BusinessMirror August 05, 2020

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PHILHEALTH FINANCIAL WOES STUN SENATORS www.businessmirror.com.ph

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Wednesday, August 5, 2020 Vol. 15 No. 300

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

FIRST day of MECQ in Cainta, Rizal, on Tuesday finds people putting on face shields on top of face masks. Aside from shields for backriding motorcyclists, the government now adds face shields to the list of health protocols people must follow when going out in public. The Department of Transportation, in its Memorandum Circular 2020-014, has required all passengers in areas where public transportation is allowed to wear face shields starting August 15. BERNARD TESTA

By Bernadette D. Nicolas & Butch Fernandez

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ITH operating losses of P90 billion and counting, state-run Philippine Health Insurance Corporation (PhilHealth) admitted on Tuesday it may collapse in 2022 without additional funding from the government as the Covid-19 pandemic forces it to increase benefit payouts despite declining collections.

Briefing senators, PhilHealth Acting Senior Vice President Nerissa R. Santiago revealed that the Covid-19 impact slashed the agency’s actuarial life to just one year from more than 10 years before the pandemic hit the country.

“Before the pandemic occurred, the actuarial life was more than 10 years. However because of the pandemic, there is a double impact on the program because of the decreased collections, as well as the expected increase in benefit

payouts,” Santiago said in response to Minority Leader Senator Franklin Drilon’s question. Senators convened as a Committee of the Whole on Tuesday, opening an inquiry into fresh allegations of corruption and mismanagement at the state health insurer.

The revelations of PhilHealth’s problems—characterized by the agency’s President and Chief Executive Officer Ricardo Morales as apparently part of a serial “bash-PhilContinued on A2

‘POGOs, BPOs will still drive office segment’

By VG Cabuag

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EECHIU Property Consultants Inc. said Philippine online gaming operators (POGOs), composed of mostly Chinese players, and the traditional business-process outsourcing (BPO) firms will continue to drive the of-

fice market this year despite a series of scaling down of operations during the lockdown.

David Leechiu, the company’s president, said POGOs and other companies have cut back their operations in the first half of the year, resulting in a higher 8-percent vacancy rate.

A total of 89,000 square me-

PESO EXCHANGE RATES n US 49.1040

ters were vacated, with POGOs accounting for half of the spaces vacated, followed by the BPOs at 12 percent. The rest was accounted for by other companies.

“Tax regulations and movement restrictions curtailed POGO growth and, in some instances, led to contraction,” he said.

The company said there were a total of 234,000 square meters of new leases, and 89,000 square meters of vacated spaces, resulting in a net absorption of 145,000 square meters.

“The Philippine office segment has not yet entered a point See “POGOs,” A2

U.N. CRAFTS P6-B PHL COVID PLAN, LARGEST SINCE ‘YOLANDA’

By Cai U. Ordinario

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HE United Nations has crafted the largest international humanitarian response plan in the Philippines since Supertyphoon Yolanda struck in 2013.

In a statement, the UN said it crafted a P6-billion Humanitarian Country Team (HCT) coronavirus 2019 (Covid-19) Response Plan for the Philippines.

The plan aims to provide critical health interventions and multisectoral humanitarian assistance to the 5.4 million poorest and most marginalized Filipinos living in poor, densely populated urban areas. It also prioritizes the safety and well-being of women and girls.

“The pandemic is challenging the capacity of response of any single country in the world. Our role is to make best use of our global knowledge and resources to join government’s efforts to contribute to the safety and well-being of the Filipino people,” said Gustavo Gonzalez, UN Resident Coordinator and Humanitarian Coordinator in the Philippines.

See “UN,” A2

n JAPAN 0.4634 n UK 64.2231 n HK 6.3358 n CHINA 7.0330 n SINGAPORE 35.6705 n AUSTRALIA 34.9620 n EU 57.7610 n SAUDI ARABIA 13.0958

Source: BSP (August 4, 2020)

News BusinessMirror

A2 Wednesday, August 5, 2020

www.businessmirror.com.ph

PHL to spend ₧1.5B for Covax facility for Covid vaccine–DOST

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By Samuel P. Medenilla

the system [to be implemented] if it will be subsidized by the government or they will have to buy it [vaccine] on their own,” Dela Peña explained.

HE government may spend around P1.5 billion for the country’s participation in the Covid-19 (novel coronavirus disease) Vaccines Global Access (Covax) facility, according to the Department of Science and Technology (DOST).

In an online press briefing on Tuesday, Science and Technology Secretary Fortunato de la Peña disclosed this was the estimated cost for the country to inoculate at least 3 percent of its population using the vaccine being developed through Covax of Gavi.

He said this was the condition given by Gavi for the country to avail itself of its Covid-19 vaccine once it becomes available.

Gavi is a Geneva-based international public-private organization, which aims to facilitate the distribution of vaccines nationwide, particularly in poor countries.

Since the government is targeting to provide the Covax-developed vaccine, which is expected to cost P500 per dose, to an initial 3 million Filipinos, Dela Peña said they will spend at least P1.5 billion.

Target beneficiaries

HE said the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) and the Department of Budget and Management (DBM) have already approved the initial allocation for the Covax vaccine.

However, the DOST chief said the budget for it may increase de-

Herd immunity

MOTORCYCLISTS show their credentials to police and military personnel manning a checkpoint at the boundary of Las Piñas and Cavite, on the first day of the implementation of a modified enhanced community quarantine in Mega Manila. ROY DOMINGO

pending on the number of doses required for a person for the inoculation to take effect, as well as if the government will opt to vaccinate more of its population.

He said the government could buy enough Covid vaccines from Gavi to cover as much as 20 percent of its population.

“But this will be decided once the vaccine is already out [in the market],” Dela Peña said.

He said people living below the poverty line will be prioritized in being given the free Covid-19 vaccine from the government.

“All the rest [of the other social classes], we still don’t know

THE Department of Finance (DOF) earlier said the government is ready to spend P20 billion to procure Covid-19 vaccine from different countries, which will be able to supply it.

Aside from Covax, the government is now also considering buying Covid vaccines which are being developed in China and other countries to meet its demand.

Based on the assessment of the Department of Health (DOH), Dela Peña said the country will have to vaccinate at least 60 percent of its population to ensure there will be herd immunity against Covid-19.

In its website, the Mayo Clinic said herd immunity “occurs when a large portion of a community (the herd) becomes immune to a disease, making the spread of disease from person to person unlikely. As a result, the whole community becomes protected—not just those who are immune.”

RACE VS TIME: POWER SHORTAGES SEEN SANS NEW ENERGY

By Lenie Lectura

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AWMAKERS and power industry stakeholders on Tuesday discussed various ways the country can attain energy independence amid the ongoing Covid-19 pandemic.

Lt. Gen. (Ret.) Rozzano Briguez, President and CEO of The Philippine National Oil CompanyExploration Corporation (PNOCEC), said the country needs to fast-track the development of new energy supply. “We envision exploring new oil and gas sources to augment our Malampaya reserves,” Briguez commented at Tuesday’s virtual Kapihan ng Samahang Plaridel, on the theme “Energy Independence Crucial to National Security.”

Congressmen, belonging to the “power bloc” of the House

of Representatives, meanwhile advocated the extension of the Malampaya gas-to-power project.

A pending House Resolution 1063 calls on the implementation of national defense and security policies to attain independent and sustainable energy supply, while also focusing on extending the life of the Malampaya gas facility in Palawan.

The continuous operation of Malampaya is critical in ensuring a sustainable, uninterrupted supply of energy, the advocates for extension argued. Currently, it powers 30 percent of the country, especially Luzon, with natural indigenous gas, and accounts for 98 percent of domestic oil and gas production.

“Malampaya plays a vital

role in energy security,” said Philreca party-list Rep. Presley C. de Jesus. At the same time, he challenged policymakers: “Is it enough? That’s the question.

Natural gas is very affordable and dependable. Energy independence would help us sustain our rapid development.”

APEC party-list Rep. Sergio C. Dagooc said, meanwhile, that the issue of energy security has long-term repercussions that go beyond the power industry. “Energy security is a crucial factor in protecting and upholding our national sovereignty, so we can keep domestic economies running at full power.”

Ako Padayon party-list Rep. Adriano A. Ebcas gave an urgent warning: “Unless the government quickly addresses

all these energy issues and rising demands, the Philippines may face an acute power shortage.

These power shortages can have far-reaching effects—from access to energy and high energy cost, to livelihood, education and, of course, national security.”

Philippine Energy Independence Council Director Don Paulino, for his part, said fast-tracking the development of more energy resources can become an investment in the country’s future. “This country will have further growth, social mobility, and deeper impact on society if we have energy security and independence.

Energy demand will increase as the Philippines continues to grow. We need two to three times the supply we have right now.”

The Malampaya gas field is projected to be depleted by early 2022 or latest by 2027.

The consortium that currently operates the gas field is composed of Shell Philippines Exploration BV, which owns 45 percent of the Malampaya consortium, Chevron Malampaya Llc. at 45 percent and state-owned PNOC Exploration Corp. with 10 percent.

The consortium members were awarded Service Contract (SC) 38, allowing them to explore and develop an area in Northwest Palawan, Philippines.

In October last year, UC Malampaya Philippines Pte. Ltd., a unit of Udenna Corp. (UC) led

by Davao businessman Dennis Uy, signed a sale and purchase agreement to acquire Chevron’s entire stake in the gas project.

POGOs… Continued from A1

of contraction,” Leechiu said, adding that POGOs and BPOs will continue to be two major pillars of growth for the local office sector.

He said of the 482,000 square meters in office requirements for the second half of the year, some 68 percent are still coming from the POGO and BPO sectors.

Leechiu said more support should be given to these two sectors as these are the fastest-growing job generators.

“The sustained growth of these sectors will allow us to bounce back from this pandemic swiftly. We need as many employers as possible to help our economy,” he said.

UN…

Continued from A1

The HCT response plan focuses on supporting the government in addressing the most immediate challenges relating to health, food security, water and sanitation, protection as well as risk communication, among others.

The UN said 23 percent of the response plan has been mobilized.

The plan will be in effect until the end of the year and will be updated based on changes caused by the pandemic.

Some 50 country-based UN and non-governmental partners contributed to the response, bringing together national and international NGOs and their networks, faith-based organizations, as well as the private sector.

“The evolving nature of this document reflects the manner in which the humanitarian community in the Philippines rapidly mobilized and came together in a coordinated and inclusive way to support the government-led efforts in response to the Covid-19 pandemic, as well as help address socioeconomic needs emerging from contraction of the economy and unprecedented levels of unemployment,” the UN said in a statement.

The plan is also a stepping stone to the UN’s mid- and longterm support to the Covid-19 recovery, to be developed in the upcoming UN Socioeconomic and Peacebuilding Framework.

The Philippines has also been included in the Global Humanitarian Response Plan, with a total of $10.3 billion, the largest in history, bringing together the response plans of 63 of the hardest-hit and most vulnerable countries.

PhilHealth financial woes stun senators Continued from A1

Health” annual exercise—come at the worst time, with people’s Covid-19 medical bills soaring, and as the nation anxiously awaits full implementation of the Universal Health Care (UHC) law.

“By next year po, wala na po tayong [we will no longer have a] reserve fund, so one year lang po ang ating actuarial life,” Santiago told senators, some of whom joined the inquiry virtually, while others, led

by Senate President Vicente Sotto III, were physically present at the Senate premises along with the resource persons.

When asked by Drilon if she meant that there will be no PhilHealth by 2022, Santiago replied, “Yes, sir.”

Drilon immediately expressed concern over the PhilHealth official’s statement on the agency’s actuarial life, saying that the agency’s financial situation is “worrisome.”

To prevent the collapse of the agency by 2022, Santiago said PhilHealth needs subsidy from the government—a tall order given how the pandemic has slashed government revenues while shuttering businesses and causing

economic contraction.

Pressed by Drilon on how much subsidy PhilHealth would need from the government, she said: “For 2020, we expect a net operating loss of P90 billion.

And if the Covid pandemic persists for 2021 and no vaccine is discovered by 2021, we will incur about P147 billion in terms of operating loss.”

P153-B subsidy

IN June, PhilHealth President Morales had proposed a P153-billion subsidy for this year, but was only granted over P71 billion. For 2021, Morales is seeking a P138-billion subsidy from the government.

Morales also earlier recommended postponing the implementation of the expanded primary care benefits, which cover more illnesses, disabilities and maintenance medicines of members.

Audit rules ignored

DRILON said urgent action was needed to avert a looming collapse of PhilHealth by 2022, due to “decreased collections amid high payouts.”

The minority leader suggested that PhilHealth work it out to

Villanueva hits ‘evasiveness’

VILLANUEVA: “They couldn’t answer my questions, not even the average hospital bill of confirmed and possible Covid patients, so we can see if the PhilHealth case rates for Covid-19 patients are enough.”

DRILON: “We are in this mess because of PhilHealth’s non-compliance with rules, including a simple COA rule. That is why we have all these problems because you disregard all the rules designed to protect public funds.”

implement remedial measures to prevent the PhilHealth from collapsing, even as Drilon noted controversies continue to haunt PhilHealth because it “does not follow simple auditing rules.”

Addressing Morales, Drilon said, “We are in this mess because of PhilHealth’s non-compliance with rules, including a simple COA rule. That is why we have all these problems because you disregard all the rules designed to protect public funds.”

He reminded PhilHealth officials of the COA rule that no additional cash advances shall be allowed to any official or employee

unless the previous cash advance given to him is first settled or a proper accounting is made.

“Per COA rules, you must first liquidate before further advances are made,” Drilon said, on learning that the agency released about P15 billion to certain hospitals from its controversial Interim Reimbursement Mechanism (IRM) even if only P1 billion was liquidated.

“Even the name Interim Reimbursement Mechanism is a misnomer because this is not a system of reimbursement but an advance—one with very weak liquidation procedure, ” Drilon said in disbelief.

SENATOR Joel Villanueva assailed the failure of PhilHealth officials to offer substantial answers on issues he raised at the hearing.

Noting PhilHealth officials’ “evasiveness” to answer simple questions, such as the average hospital bill of Covid-19 patients or the rationale for the insistence of certain board members to endorse a P750-million budget despite a pending audit or inventory of the ICT equipment of the corporation, Villanueva admitted being worried.

Villanueva questioned the PhilHealth board approval of the P750-million ICT budget despite having previously approved only a P327-million budget for ICT. The matter of “overpriced” ICT equipment and systems, the controversial IRM, and the alleged “tweaks” in the agency’s financial condition had been cited earlier by Sen. Panfilo Lacson in pushing for the inquiry on PhilHealth.

Villanueva lamented that, “They couldn’t answer my questions, not even the average hospital bill of confirmed and possible Covid patients, so we can see if the PhilHealth case rates for Covid-19

patients are enough. I’m therefore tempted to think they don’t want it said that the benefit value of PhilHealth is too small.” He asserted that the small benefit value “goes against the spirit of the Universal Health Care law.”

The UHC law, which mandated increased premiums to support more and increased benefit packages, should have eased the burden of members in shelling out cash to cover health-care expenses, he explained.

Citing PhilHealth data, Villa­ nueva pointed out that even before the pandemic, PhilHealth has been recording persistently low support value, or the portion of hospitalization costs that the agency shoulders vis-à-vis the members’ total hospital bill. This, despite the increased funds of PhilHealth from premium payments of direct contributors and the annual appropriations in the national budget to finance UHC implementation.

The support value was as high as 59 percent in 2014, but decreased steadily every year after. In the first six months of 2019, PhilHealth support value was at mere 41 percent, according to agency data.

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The Nation BusinessMirror

Anti-Terror law gains grassroots support in Angeles, Pampanga

By Rene Acosta

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@reneacostaBM

HE military’s effort to cascade the acceptance and understanding of the revitalized anti-terrorism law down to the local level is gaining steam after barangay officials in Pampanga pledged their support to the controversial measure.

Thirty-three barangay chairmen of Angeles City, Pampanga vowed to support for the implementation of the new law, which security officials claimed would better arm the government in dealing with terrorist threats.

On Monday, newly installed Armed Forces Chief of Staff Lt. Gen. Gilbert Gapay said he would make the implementation of the Anti-Terrorism Act of 2020 a priority of his leadership, asserting it would boost government efforts in dealing with the threats posed by the New People’s Army and terrorist groups operating in Mindanao.

The village leaders expressed their support to the new law during the conduct of “An Awareness on Communism, Terrorism and Security [ACTS] for Peace 2020” held by the 48th Infantry Battalion (48th IB) at the Angeles City Police Office.

The event was initiated to provide local officials a better understanding of the newly signed anti-terrorism law and Executive Order 70 creating a national task force to end insurgency.

The 48th IB was joined by Angeles City police and city officials

during the event.

Lawyer Frederick Mikhail Farolan, former consultant, Office of the Chairperson, Commission on Human Rights, and lead convener and executive director, Coalition for Security Towards Peace, graced the event as the guest of honor and speaker.

Brig. Gen. Andrew Costelo, 703rd Brigade commander, fully supported the dialogue, saying the military will help the government in ensuring that local officials and communities fully understand the new law and its intent.

“This is a good step of the 48th IB in order for the barangay captains to be made aware of the true and clear provisions of the Anti-Terrorism Law of 2020,” he said.

“Alongside with Executive Order 70, it is necessary that barangay executives will be equipped with true and needed information regarding the law to avoid confusion and to synchronize the effort towards peace and development,” he added.

Lt. Col. Felix Emeterio Valdez, 48th IB commander, underscored the need for police and military officials to work together in the implementation of the new law.

“This is to avoid misinformation and to promote harmony in the implementation of the Anti-Terrorism Law of 2020. This endeavor will continue, and together with our Philippine National Police counterparts, we will reach out to every corner of our area of operations to inform and to impart regarding the new law on anti-terrorism,” he said.

Editor: Vittorio V. Vitug • Wednesday, August 5, 2020 A3

DOT chief cracks whip on hotels violating health, safety protocols

By Ma. Stella F. Arnaldo @akosistellaBM Special to the BusinessMirror

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HE Department of Tourism (DOT) has warned that it will cancel the certificate of authority to operate of hotels, which continuously flout the health and safety protocols set by the government to contain the spread of the novel coronavirus.

Tourism Secretary Bernadette Romulo Puyat issued the warning in the wake of several incidents reported to their agency of hotels not accommodating their returning overseas Filipino (ROF) guests on time, and letting them mingle with the general population. In one incident, she told the BusinessMirror, a five-star hotel in Pasay “overbooked” its rooms, and let its waiting guests “loiter in its lobby without following any physical distancing protocols,” and had no masks on.

She said the guests arrived at 3 a.m. but were told the check-in time was still at 3 p.m. The duty manager insisted that the guests should have booked their stay a day before the arrival, but the guests averred, they were not informed that they were supposed to do this. Some guests also left the hotel to eat.

Similarly, a three-star hotel in Malate also didn’t have the rooms

ready for their ROF guests and thus, allowed the latter to just go out and eat. “So if one of those guests were positive, they could have already mingled with the general population and spread the virus!” said the DOT chief.

“We advise the hotels to prepare the rooms of their arriving guests, at the expected time of arrival, so they can immediately proceed to their rooms for quarantine,” stressed Romulo Puyat. She noted, “These are extraordinary times, and we are living in a pandemic,” so the hotels should have flexible check-in procedures to immediately accommodate their guests upon arrival. Normally, hotels have a 3 p.m. check-in time.

She said the agency has already written the two hotels and asked them to explain the circumstances surrounding the reported incidents of health and safety violations. “After a first warning, if they do it again, we will cancel their certificates of authority to operate,” she warned, “and we will be constrained to review their accreditation.”

Romulo Puyat underscored, “We have to contain the virus,” adding these hotels have been allowed to operate to accept guests who need to temporarily quarantine themselves while waiting for their Covid-19 test results. “So they should not be allowed to min-

gle with the rest of the population; we had already issued regulations regarding this matter.”

The DOT also wrote the heads of the Tourism Congress of the Philippines, Philippine Hotel Owners Association, and Hotel Sales and Marketing Association Inc., urging them to remind their members to strictly adhere to the health and safety protocols issued by the government. The guidelines include DOT Administrative Order 2020-002-A or Amended Guidelines on the Operation of Hotels and Other Establishments Under a Community Quarantine (Annex A), DOT Memorandum Circular 2020002-A, or the Amended Health and Safety Guidelines Governing the Operations of Accommodation Establishments under the New Normal (Annex B), the Inter-Agency Task Force on Emerging and Infectious Diseases (IATF-EID) Omnibus Guidelines on the Implementation of Community Quarantine in the Philippines.

“While we understand the business and operational challenges faced by our private sector partners in these trying times, the health and safety of our fellow Filipinos—guests and employees alike—should remain our primary consideration,” said Romulo Puyat in her letters to these organizations dated August 3, 2020.

Relief goods pour for Valenzuela City community under lockdown

By Roderick L. Abad

Contributor

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@rodrik_28

ESIDENTS of Bagong Kaunlaran Compound in Paso de Blas, Valenzuela continue to receive relief goods from the local government unit (LGU) to ensure that they will not leave their houses to buy basic essentials while under the community lockdown until August 9.

Apart from food packs, they are also provided with hygiene kits and snacks for children on fiveday intervals.

Through the City Social Welfare and Development Office, the LGU has so far delivered the second batch of food ration to 435 families.

Likewise, the residents were given 450 packs of canned goods from First District Rep. Weslie T. Gatchalian and fresh vegetables from Vice Mayor Lorie Natividad-Borja.

Valenzuela City Mayor Rexlon Gatchalian ordered the two-week quarantine of the community, which is home to 530 families and 1,342 individuals.

The lockdown started last July 25 after random Covid-19 swab testing among residents yielded 25 percent to 50 percent positive cases. Of the initial 453 individuals tested, 106 were confirmed positive.

A4 Wednesday, August 5, 2020 • Editor: Vittorio V. Vitug

Economy BusinessMirror

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Families reliant on OFW remittances at risk of falling into poverty–experts

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By Cai U. Ordinario

@caiordinario

OUSEHOLDS benefiting from remittances sent by overseas Filipino workers (OFW) in the pre-pandemic era are most vulnerable to fall into poverty due to remittances decline this year, according to Asian Development Bank (ADB) experts.

In a briefing on Tuesday, ADB Senior Economist James Villafuerte and Economist Aiko Kikkawa Takenaka said this is especially the case among households of seniors who are receiving remittances.

Villafuerte and Takenaka cited data from the Philippine Statistics Authority (PSA) which estimate that 21 percent of all remittance receiving Filipinos are composed of senior citizens.

“Households that are highly dependent on remittances are at most risk of falling back into poverty,” Takenaka said in a webinar on Tuesday.

Villafuerte and Takenaka said in their policy brief that there are cross-country studies that estimate a 1-percentage-point increase in the share of gross domestic product (GDP) of remittance is linked to a reduction in the poverty gap ratio

by 22.6 percent and poverty severity ratio by 16 percent.

They also cited a study based on microdata from selected economies in South Asia and Southeast Asia that estimate a 10-percent increase in remittance inflows leads to a 4-percent increase in real GDP per capita.

However, as to the specific impact on poverty in light of the pandemic, particularly for severely affected countries due to the remittances, Villafuerte and Takenaka said they are still crunching the numbers.

“We are working on the estimation in selected countries using household data, [we will] keep you posted,” Takenaka told reporters.

Meanwhile, Villafuerte said the impact of the pandemic on remittances may even extend beyond 2020. This means the 20.2 percent decline in remittances that they expect was “still on the low side.”

Ateneo Center for Economic Research and Development (ACERD)

NGCP urges govt to address Zambo Peninsula’s power sufficiency woes

By Lenie Lectura

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@llectura

HE National Grid Corp. of the Philippines (NGCP) is urging the government to implement longterm solutions to address power glitches that regularly occur in the Zamboanga Peninsula, particularly within the franchise area of the Zamboanga City Electric Cooperative Inc. (Zamcelco).

The grid operator said it has implemented remedial measures to address the problem but stressed that government needs to intervene to ensure power quality and reliability in the area.

From January to May this year, NGCP has recorded an increase in the number of undervoltage and voltage fluctuations from both the power generation and distribution side, adversely affecting power stability in the area.

To address this, the NGCP has put in place short-term measures such as placement of capacitor banks installed in 2018 at NGCP’s Pitogo Substation.

Currently, four 7.5 mega volt ampere reactive capacitor banks at the said substation that caters to Zamcelco and power supplier Western Mindanao Power Corp. (WMPC).

NGCP has also certified WMPC as an Ancillary Services (AS) provider for dispatchable reserve and reactive power support.

NGCP also conducted a transposition activity for the Aurora-Nagamin and Nagamin-Zamboanga 138 kiloVolt lines to help mitigate unbalanced voltage in the area. This activity, it said, temporarily addressed the distribution side imbalances that contribute to the issue.

The energization of the KauswaganLala-Aurora line, the Lala-Naga (MinZamboanga line), and the completion of the Min-Visayas Interconnection project. Barring unforeseen circumstances, these initiatives are also expected to further improve voltage reliability in the area.

However, NGCP said, these are only mere stop-gap measures to the larger issues, such as the lack of power generation plants that would provide voltage support and address increasing demand in the area, as well as the lack of unimpeded access to the right-of-way (ROW) of older lines for maintenance, specifically the 350-kilometer Aurora-Naga MinZamboanga line.

The transmission line, which serves Zamcelco and other customers in the Zamboanga Peninsula and is one of the longest radial lines in Mindanao built before NGCP took over power transmission operations. Its weak configuration is also a factor in the power quality issues.

“NGCP has exhausted all short and mid-term remedial measures to help solve the power quality issues faced by the customers of Zamcelco and WMPC. These are, however, only short term, temporary measures implemented to immediately address bigger concerns,” NGCP said.

“We appeal to the government authorities in charge of long-term planning to adopt a more holistic approach to power development so that the needs of the grid as a whole will be better coordinated, and power plant locations will be more strategic,” it said.

NGCP also appealed to concerned government agencies to address the unresolved and unpaid ROW over old lines built by the National Power Corp. and National Transmission Corp.

(Transco). “Unimpeded access to the line’s right-of-way corridor is imperative for NGCP to continue with proper maintenance of the transmission lines under its care,” it said.

NGCP’s limited ability to access the old and long lines in the area contributes to line tripping that cause power interruptions, it said.

“NGCP has done what it can to address the ROW concerns such as the conduct of regular vegetation trimming activities and public information campaigns but it can only do so much.

Under its concession agreement, the obligation to settle these issues remain with Transco,” NGCP said.

The company is also seeking the public’s support to report any hazardous activity within the transmission line corridor, including kite flying, high-growing vegetation, and construction activities, among others, which may trigger unscheduled power interruptions.

“There exists a multilateral problem which needs a multilateral, long-term solution and thorough implementation from our governing agencies,” NGCP added.

Under the Epira, NGCP is limited to the operations and maintenance of power transmission facilities. Its tasks include ensuring the readiness of transmission facilities to deliver any and all available power to where it is needed. It cannot intervene in generation, or distribution issues, nor is it responsible for ROW concerns over lines built prior to its takeover of transmission operations on January 15, 2009.

NGCP is a Filipino-led, privately owned company in charge of operating, maintaining, and developing the country’s power grid, led by majority shareholders and Vice Chairman of the Board Henry Sy Jr. and Co-Vice Chairman Robert Coyiuto Jr.

Director Alvin P. Ang agreed and told the BusinessMirror that OFW remittances growth will remain muted as long as travel restrictions are in effect.

Ang said in the same forum that this is something that individual governments can resolve. Migrant worker sending countries can enter into bilateral agreements with host countries in this regard.

The agreement should focus on preventing the immediate return of workers to their countries. Ang said host countries can retool or re-skill affected workers to allow them to continue sending remittances to their families and help governments like the Philippines cope with the crisis.

“The Philippine government has to negotiate with host countries. If it’s possible, don’t send back workers, retool them, allow them to work,” Ang said in the webinar.

“A huge bilateral is needed but many things need to be done [through] international [coopera-

tion]. A multilateral approach to this challenge must also be initiated soon,” he added.

T he mu lt i l atera l approac h means organizations like ADB, the World Bank and the International Organization for Migration should collaborate to help migrant workers worldwide.

On Tuesday, ADB said remittances in the Philippines are expected to decline by 20.2 percent in the worst-case scenario. This will affect 8.4 percent of recipient local households.

The other Southeast Asian country that will suffer a large reduction in remittances is Indonesia, with a 21.4-percent decline in remittances. However, only 3.3 percent of its households receive remittances.

The Bangko Sentral ng Pilipinas (BSP) reported that remittances dropped 19 percent in May, as the impact of Covid-19 was hitting host countries, displacing thousands of OFWs.

SSS approves ₧15.63-B calamity loans to 1.03-M members since lockdown

By Bernadette D. Nicolas

@BNicolasBM

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TATE-RUN Social Security System (SSS) has announced that it has approved P15.63 billion in calamity assistance loans to help ease the financial woes of its members amid the Covid-19 pandemic.

In a news statement issued on Tuesday, the Department of Finance (DOF) said the pension fund has approved more than 1.03 million applications for its Calamity Loan Assistance Package (CLAP) for the Covid-19 pandemic since its online filing was launched last June 15.

SSS President and Chief Executive Officer Aurora Cruz Ignacio said from June 15 to July 28, CLAP applications are averaging at P15,144 per individual claim.

The calamity loan for Covid-19, which started in June is set to run until September 14 this year.

Online application, however, is now mandatory.

President Duterte declared a state of national calamity in the country last March 16 amid the contagion.

The calamity loan for Covid-19 carries a 6-percent interest per annum commencing on the fourth month with a 27-month term, inclusive of a threemonth moratorium.

In line with the instructions of Finance Secretary and Social Security Commission (SSC) Chairman Carlos Dominguez III for the SSS to digitize its system in order to speed up the grant of loans and benefits to its members, Ignacio said that CLAP claims were released since June 28 via “cheque-less” disbursement through the Development Bank of the Philippines PesoNet accredited banks.

In terms of unemployment insurance benefits, the agency extended P190.02 million from July 1 to 27 this year to help workers hit hard by the economic fallout from the pandemic.

For the same period, applications approved by SSS for the unemployment insurance benefits have reached 14,186.

Since SSS started accepting applications from

August 2019 up to July 27, a combined total of P544.37 million in unemployment insurance benefits were extended by the agency as it granted 43,347 applications.

Premium-paying SSS members can also avail of the unemployment insurance benefits equivalent to half of their average monthly salary credit (AMSC) for a maximum of two months if they are involuntarily separated because of the economic downturn, calamity/disaster, redundancy, installation of laborsaving devices, retrenchment or downsizing, closure or cessation of operation, and disease or illness of these employees whose continued employment is prohibited by law, or is prejudicial to their, or their co-employees’ health.

They should have also paid the requisite minimum number of monthly contributions for three years to qualify for this unemployment benefit, 12 of which should have been made in the 18-month period immediately preceding the month of involuntary separation.

The unemployment insurance benefit is one of the landmark provisions of Republic Act (RA) 11199, or the Social Security Act of 2018.

Since July 15, online filing for unemployment insurance benefits have been made mandatory to speed up the application process.

Funeral benefit claims for SSS member-claimants is also set to be made mandatory this month, Ignacio said.

She added that the SSS has also started using electronic payment systems in releasing the unemployment insurance and funeral benefits to its members.

The agency has also made mandatory the online filing of SSS retirement benefit for members who are at least 65 years old, for overseas Filipino workers and for voluntary members who are 60 to 64 years old, as well as the online applications for salary loans and online filing of sickness benefit reimbursement for employers.

“The SSS has issued circulars covering the guidelines for the online filing of funeral benefits and the enhanced filing of retirement benefit claims to make them operational,” Ignacio added.

Ensure passage of food trucks amid MECQ, DA tells LGUs

By Jasper Emmanuel Y. Arcalas @jearcalas

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HE Department of Agriculture (DA) is appealing to local chief executives to ensure unhampered food trade by allowing food deliveries to easily pass through checkpoints to ensure stable food supply in areas that reverted to modified enhanced community quarantine (MECQ).

Agriculture Secretary William D. Dar issued the appeal after he received reports of vegetable deliveries bound for Metro Manila that were not allowed to pass through checkpoints in Benguet on the first day of MECQ. The government has placed Metro Manila, Laguna, Rizal and Bulacan provinces under MECQ from August 4 to 18.

“We are calling on all provincial chief executives and municipal mayors to ensure unhampered flow of food deliveries. We have received initial feedback that some ‘viajeros’ cannot get past checkpoints in Benguet,” Dar said in a news briefing on Tuesday morning.

“So, please let us try to help. We should work with each other. We should be together on this to ensure that no vegetables from Benguet would rot and would reach Metro Manila,” Dar added.

“Let us be united in the pursuit of having to move these food supplies from the provinces toward the metro areas like Metro Manila,” he added.

Agriculture Undersecretary for Operations Ariel T. Cayanan said food passes for cargoes and deliveries carrying food products are not required to secure food passes to be able to transport their goods.

However, if certain local government units (LGUs) would require such passes to be able to pass through checkpoints, then the DA would immediately issue these to ensure unhampered trade of food, Cayanan added.

“Food passes as when it is needed, we are ready to issue but the [Agriculture] Secretary [Dar] is reminding the LGUs [local government units] to be consistent with the implementation of [national guidelines] that anything related to agriculture are considered frontliners, hence, there should be unhampered movement,” he said.

The DA also assured the public that there is no need to resort to panic buying as the country has sufficient food stocks during the MECQ and even until the end of the year based on its supply forecasts.

“Even before the MECQ, the supplies of our prime commodities are sufficient. We remind consumers to just purchase your needed stocks for example good for one week,” Cayanan said.

Based on Dar’s presentation, the country is projected to have a total rice supply this year of 18 million metric tons more than enough to meet the estimated total demand of 14.536 MMT. For corn, the country would end the year with a surplus of about 4.067 MMT, while chicken meat supply is estimated to have a year-end inventory of as much as 552,256 MT.

Labor chief to employers: Consider cashless payment of workers’ wages

By Samuel P. Medenilla

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@sam_medenilla

O ensure workers get their salaries safely and promptly amid the Covid-19 pandemic, the Department of Labor and Employment (DOLE) urged employers to explore cashless payment of wages.

In Labor Advisory 26-20, Labor Secretary Silvestre H. Bello III said employers should consider paying their workers using electronic money (e-money), which could conveniently stored in payment instruments, such as cash cards, or e-wallets, and could be accessed through mobile phones.

“The list of e-money issuers [EMI] or entities authorized by BSP [Bangko Sentral ng Pilipinas]

to offer e-money account can be found on the BSP web site,” Bello said.

The labor chief said they could also opt to make use of BSP’s Philippine EFT System and Operations Network (PESONet) to digitally transfer from one bank to another.

“Designed for bulk disbursements and payments, PESONet is useful for payment of wages from employer’s transaction accounts to the accounts of employees in PESONet participating FIs [financial institutions],” Bello said in the three-paged issuance.

He said this will “reduce the costs and risks of physical cash disbursements,” especially during the Covid-19 crisis, wherein face-to-face transactions could raise chances of infections.

For companies, which will still opt for physical cash payments, Bello said, they could make use of an unconventional financial service access points such as pawnshops, cooperatives, convenience stores, pharmacies and other retail outlets aside from the usual automated teller machines (ATM).

DOLE said companies, which are interested in making use of these options should first communicate it to their respective workers.

It noted such use of alternative means of wage payments should not result to additional expenses for the part of the workers.

The new payment scheme should also still comply with wage protection provisions of the law and reflected in the payslip, or record of payment of wages of their employees.

The World BusinessMirror

Editor: Angel R. Calso

US issues alert about malware used by Chinese government

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he US government issued an alert on Monday that a type of malware seen frequently by security researchers in the last decade is tied to the Chinese government, the latest in a series of American warnings about China’s cyber capabilities this summer.

The US Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency (CISA), the Federal Bureau of Investigation, and the Department of Defense “identified a malware variant used by Chinese government cyber-actors, which is known as Taidoor,” according to the alert.

The purpose of the alert, which contained no information about the prevalence of the malware or who has been targeted, is to “enable network defense and reduce exposure to Chinese government malicious cyber-activity.”

While this type of malware has been used since 2008, the Chinese government continues to leverage it in ongoing espionage to gain intelligence, according to a US Cyber Command official, who requested

anonymity as is the agency’s policy.

The cybersecurity firms FireEye Inc. and CrowdStrike have seen Taidoor malware used by multiple China-based groups targeting the US and Asia but have observed a recent decline in its use.

In the past, the malware has hit sectors including law, nuclear power, airlines, engineering, defense industrial base, technology, government and aerospace, according to the cybersecurity firms. It’s commonly sent in spearphishing attacks and used to gain access to systems, said Ben Read, a senior manager of analysis at FireEye. T he government’s decision to publicly connect Taidoor to China comes as President Donald J. Trump plans to order China’s ByteDance Ltd. to divest its ownership of the music-video app TikTok amid a US investigation of potential national security risks.

In May, the US warned organizations researching coronavirus of “likely targeting and attempted network compromise” by China.

Bloomberg News

U.N. says 1 billion students affected by virus closures

U

NITED NATIONS—The United Nations chief says the coronavirus pandemic has led to the largest disruption of education in history, with schools closed in more than 160 countries in mid-July affecting more than 1 billion students.

In addition, Secretary-General Antonio Guterres said Tuesday that at least 40 million children worldwide have missed out on education “in their critical pre-school year.”

As a result, he warned that the world faces “a generational catastrophe that could waste untold human potential, undermine decades

of progress, and exacerbate entrenched inequalities.”

“We are at a defining moment for the world’s children and young people,” Guterres said in a video message and a 26-page policy briefing. “The decisions that governments and partners take now will have lasting impact on hundreds of millions of young people, and on the development prospects of countries for decades to come.”

Guterres called for the reopening of schools once the local transmission of the virus is under control. AP

S. Korea-Japan discord stirs Trump’s China plans

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South Korean court is set to start liquidating assets of a Japanese company to compensate Koreans co n s c r i p te d to wo r k d u r i n g co l o n i a l occupation, straining ties between two key US partners just as the Trump administration needs their help in countering China.

A district court in the eastern city of Pohang will start a process on Tuesday to seize shares valued at about $356,000 that Japan’s Nippon Steel Corp. has in a joint venture with South Korean steelmaker Posco. No money is expected to move immediately, however, as the liquidation process requires months to realize due to procedural formalities.

Nippon Steel will immediately appeal the notice to seize its assets, spokesman Tsuyoshi Yoshizumi said on Tuesday. If it does not appeal within a week, the order is set to become effective and that would likely inflame tensions as Japan has said the order is unlawful.

The two countries have seen threats to their enmeshed economies and their joint security effor ts following South Korea’s Supreme Court ruling in 2018 that Nippon Steel and Mitsubishi Heavy Industries Ltd. were liable to compensate for forced labor during the 1910-1945 colonial period.

The renewed acrimony could prove troublesome for Donald J. Trump, as his administration has stepped up its pressure campaign against China, seeking help from allies to contain Beijing’s push into the South China Sea and block Chinese technology on the grounds of posing security risks.

Tokyo has vowed to strike back if the liquidation takes place, while Seoul has said it has already reviewed possible countermeasures in response.

Japan has said all claims were completely and finally settled by a 1965 treaty that established basic relations, while Seoul believes some conscripted workers were not properly compensated for their emotional pain and suffering.

The Trump administration has been reluctant to step in and ease tensions. But last year it pressured Seoul to make a lastminute pivot to save an intelligence sharing pact with Tokyo designed to demonstrate the

neighbors’ ability to cooperate independently from Washington to counter shared threats including China and North Korea.

Troublesome

T h e renewed tensions could also hur t the US on the economic front. The Trump administration has talked about bringing supply chains home from China, and even publicly floated the need for a group of friendly nations in Asia that could help produce essential goods, seeking assistance from the likes of Japan, South Korea and others.

The tension between Tokyo and Seoul, however, could benefit China, according to Zhao Tong, Senior Fellow at Carnegie‑ Tsinghua Center in Beijing.

“The growing gap between Japan and South Korea may help China maintain a good relationship with South Korea due to their shared historical grievances toward Japan and can help ensure that a US-ROK-Japan trilateral security alliance will never become real,” Zhao said, referring to South Korea by its formal name.

People in both countries see ties clouded by animosity. A poll published in June by Japan’s Yomiuri newspaper and South Korea’s Chosun Ilbo found 84 percent of Japanese and a record high of more than 90 percent of South Koreans saw the relationship between the two countries as bad.

Japanese Prime Minister Shinzo Abe and South Korean President Moon Jae-in have found support at home for taking a hard line against their neighbor. With both facing slides in their domestic support rate, making unpopular concessions to ease the tensions could lead to an even deeper fall.

Apart from the court cases over colonialera labor, Japan and South Korea are squaring off at the World Trade Organization over Tokyo’s decision to restrict exports of electronics components vital for South Korea’s tech sector.

Tokyo has also shown concern over a memorial at a private botanical garden in Pyeongchang, east of Seoul, showing a man thought to resemble Abe prostrating himself in apology before a seated young woman who represents Koreans trafficked in Japanese imperial army brothels. Bloomberg News

Wednesday, August 5, 2020

A5

China accuses US of harassing Chinese students, researchers

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EIJING—China on Monday accused the United States of “monitoring, harassing and willfully detaining” Chinese students and researchers in the US.

Foreign ministry spokesman Wang Wenbin’s comments follow the denial of a bail request in California for a university researcher accused of lying about her ties to China’s military and governing Communist Party to gain access to the United States.

Wang also criticized the Trump administration for imposing sanctions on a major paramilitary organization in the country’s western Xinjiang region and on two officials for alleged human rights abuses against ethnic and religious minorities.

Wang said China had no intention of helping Juan Tang escape from the United States, but did not otherwise comment directly on the accusations against her.

However, he said China urges the US to “handle the case fairly in accordance with the law and ensure the safety and legitimate rights and interests” due to Tang.

“For some time, the US, with

ideological prejudice, keeps monitoring, harassing and willfully detaining Chinese students and researchers, and making presumptions of guilt against Chinese researchers,” Wang said.

“The US actions have seriously violated the legitimate rights and interests of Chinese citizens and severely disrupted the normal cultural and personnel exchanges between China and the US, which amounts to outright political persecution,” he said.

In denying bail, US Magistrate Judge Deborah Barnes said Tang, 37, would have reason to leave the country if released. Tang has been held without bail since July 23 when she was arrested after she left the Chinese Consulate in San Francisco to seek medical care for her asthma.

Tang, who has a doctorate in cellular biology, entered the United States on December 27, 2019, to work at the University

of California, Davis, as a visiting researcher in the Department of Radiation Oncology, Alexandra Negin, an assistant federal public defender, said in her filing asking the court for her release on bail. The lab closed because of the coronavirus pandemic and Tang had been preparing to return to China, Negin said.

Tang and three other scientists living in the US face charges of lying about their status as members of China’s People’s Liberation Army, or PLA. All were charged with visa fraud, the Justice Department said.

Tang was the last of the four to be arrested after the Justice Department accused the Chinese Consulate in San Francisco of harboring a known fugitive.

Negin said Tang went to the consulate to seek help and remained there after FBI agents questioned her at her Davis apartment on June 20 and executed a search warrant, seizing her passport and visa.

Agents found photographs of Tang in a uniform of the civilian cadre of the PLA and also reviewed articles from China that identified her military affiliation. Negin argued that the evidence against Tang is based on old photographs from when she was a student at a medical school run by the military and documents that were translated on apps.

Wang said the US State and Treasury Department penalties targeting the Xinjiang Production and Construction Corps “seriously interfered in China’s internal affairs and violated the basic norms of international relations.”

The sanctions hit the corps, its commander and former political commissar for alleged abuses against Uighur Muslims, including mass arbitrary detentions, forced labor and torture. They freeze any assets the targets may have in US jurisdictions, and perhaps more significantly, bar Americans from doing business with them.

Wang repeated China’s assertion that it has been acting against violence, terrorism and separatism and that “Xinjiang-related issues are not about human rights, ethnic groups, or religions at all.”

China has used that in an attempt to def lect international condemnation of its internment of more than 1 million Uighurs and members of other Muslim minority groups in prison-like camps that it calls re-education and job training centers, along with other abuses.

The corps acts like a parallel government in the vast, resourcerich region, operating its own schools, courts and a large network of businesses. AP

Afghan forces retake prison after deadly IS group attack

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AL AL ABAD, Afghanistan— Militants affiliated with the Islamic State group stormed a prison in eastern Afghanistan in a daylong siege that left at least 39 people dead, including the assailants, and freed nearly 400 of their fighters before security forces restored order, a government official said on Monday.

The attack underscored that the Islamic State affiliate in Afghanistan is still a formidable presence, and it highlighted the challenges ahead as US and NATO forces begin to withdraw following Washington’s peace deal with the Taliban.

The peace accord aims to recruit the Taliban to battle the militants from IS, which US officials have told The Associated Press is the Americans’ biggest foe in Afghanistan. Both the Taliban and the IS affiliate are staunch rivals.

At least 10 of the dead were IS militants involved in the assault to free their comrades from the prison in Jalalabad, the capital of Nangarhar province, said Ajmal Omar, a provincial council member. The rest of the dead were believed to be prisoners, civilians and Afghan forces, although no official breakdown was given.

A nother 50 people were wounded in the attack that began on Sunday when a suicide bomber detonated his ex plosives-packed vehicle at the entrance to the prison complex some 115 kilometers (70 miles) east of K abul, Omar said.

Other militants simultaneously stormed the prison and took up positions in nearby residential buildings. They fired on Afghan troops for several hours, even after the security forces retook the prison and began recapturing some of the inmates.

Of the five prisoners killed by the militants, at least three were members of the Taliban, showing the tensions between the two factions.

An AP photographer who went inside the prison, which houses about 1,500 inmates, said he saw

Afghan security personnel take position on the top of a building where insurgents were hiding, in the city of Jalalabad, east of Kabul, Afghanistan on August 3. An Islamic State group attack on a prison in eastern Afghanistan holding hundreds of its members raged on Monday after killing people in fighting overnight, a local official said. AP Photo/Rahmat Gul

the bodies of five of the attackers and at least four prisoners.

Omar said about 430 prisoners stayed in their cells or hid during the siege. It was unclear on Monday how many prisoners remained at large.

One inmate, who gave his name as Azizullah, said he heard the powerful explosion, followed by the militants storming into the main prison block, shouting for their fighters and telling them to flee.

“The aim of this attack was to rescue all Daesh members inside the prison, and unfortunately that included five or six senior Daesh people,” Omar said, using an Arabic acronym for the Islamic State group, which is also known as ISIS. Among the prisoners who escaped was the g roup’s shadow gover nor for neighbor ing Kunar Prov ince, he said.

The Islamic State affiliate in Afghanistan, known as IS in Khorasan Province, claimed responsibility for the attack. The militants have established a base in Nangarhar Province.

Afghanistan has seen a recent surge in violence, with most attacks claimed by IS militants. US and Afghan forces—along with the Taliban—have pounded IS

positions.

W hile the group’s strength might have been reduced, analysts say it is still able to stage such high-profile attacks such as the jailbreak.

“Rumors of the demise of ISIS in Afghanistan are greatly exaggerated. It retains the capacity to carry out attacks, and it continues to gain new recruits ranging from disaffected former Taliban fighters to newly radicalized young Afghans,” said Michael Kugelman, deputy director of the Asia Program at the Washington-based Wilson Center.

“The attack on the jail took place in terrain where ISIS has long had a deep presence, and it used tactics that the group has frequently deployed in Afghanistan,” he said. “It amplifies, for Kabul and Washington and other NATO partners, just how serious the ISIS challenge remains.”

On Saturday, authorities said Afghan Special Forces killed a senior Islamic State commander near Jalalabad.

The Taliban’s political spokesman, Suhail Shaheen, told the AP that his group was not involved in the prison attack.

“We have a cease-fire and are not involved in any of these attacks anywhere in the country,” he said.

The Taliban had declared a three-day cease-fire starting Friday for the major Muslim holiday of Eid al-Adha. The cease-fire expired at midnight on Sunday, although it wasn’t immediately clear if it would be extended.

The US reached the peace deal with the Taliban in February, but a second, crucial round of negotiations between the Taliban and the political leadership in Kabul has yet to begin.

Washington has been pushing for an early start to intra-Afghan negotiations that have repeatedly been delayed since the Taliban accord was reached.

In a tweet late Monday, Shaheen said US Secretary of State Mike Pompeo held a video call with the Taliban’s chief negotiator, Mullah Abdul Ghani Baradar. His Pashto language tweet said Pompeo welcomed the cease-fire.

Shaheen repeated the Ta liban’s demand that the Afghan government free all 5,000 Taliban prisoners it holds in line with the deal. President Ashraf Ghani has refused to release the last 400, calling a grand council of elders for Thursday to decide the issue.

While the Islamic State group has seen its so-called caliphate stretching across Iraq and Syria eliminated after years of fighting, the group has continued its attacks in Afghanistan. The extremists also have battled the Taliban, which was overthrown by the US in a 2001 American-led invasion following the September 11 attacks.

A United Nations report released last month estimated the membership of IS in Afghanistan at 2,200. While its leadership has been depleted, IS still counts among its leaders a Syrian national Abu Said Mohammad alKhorasani.

The report also said the monitoring team had received information that two senior Islamic State commanders, Abu Qutaibah and Abu Hajar al-Iraqi, had recently arrived in Afghanistan from the Middle East. AP

A6 Wednesday, August 5, 2020 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Urban households can do composting

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he Environmental Management Bureau (EMB) of the Department of Environment and Natural Resources said households were the biggest source of municipal solid waste in 2008 to 2013. The National Solid Waste Management Status Report published by the agency indicated that residential waste constitutes more than half of municipal solid waste. Items that end up in the trash bins of households include biodegradables, such as kitchen scraps, and paper and cardboards.

Rice, leftover food, banana peels are some of the biodegradables thrown in landfills. This, despite the fact that the Philippines imports rice yearly to augment its domestic supply. According to data from the Philippine Statistics Authority, a Filipino household wastes 1.676 kilograms of rice annually, translating to a total country loss of 38.507 million kilos, valued at P1.617 billion (See, “Food waste, postharvest losses where millions remain hungry,” in the BusinessMirror, October 18, 2018).

As more people stay in their homes to prevent the spread of Covid-19, households are expected to produce more food waste. This is the best time for government to encourage households to segregate their wastes and turn these items into compost. It doesn’t take much to do composting—the natural process of “rotting” or decomposition of matter by microorganisms under controlled conditions, according to the Food and Agriculture Organization.

Composting will keep biodegradables from local landfills where these items could release methane, a potent greenhouse gas. Apart from this, the United States Environmental Protection Agency said the use of compost would enrich the soil, suppress plant diseases and cut the use of chemical fertilizer. The use of compost would make soil healthier, which can help improve crop yield.

The Department of Agriculture has jump-started initiatives to encourage composting by including compost in the urban gardening kits it distributes to personnel in all government agencies. Promoting the recycling of food waste and composting will complement its thrust to encourage city residents to take up urban gardening to augment their food supply. Due to the quarantine restrictions, people now have the time to recycle food waste and make compost for the crops they want to plant in their own gardens.

Developing a recycling mindset among Filipinos will not only reduce the country’s food waste, but also encourage them to convert trash into something useful. Apart from improving the quality of crops, recycling food waste will also help cut the volume of trash that ends up in dumpsites or landfills that require huge spaces and budgets. Currently, the government is already hard pressed to build more landfills to accommodate trash from households, industries and commercial establishments. (See “PHL only has 10 percent of needed sanitary landfills, says DENR exec,” in the BusinessMirror, February 5, 2020).

Government does not have to shell out so much money for the initiative as it has all the necessary platforms where it could carry out information campaigns even during the pandemic. There are governmentowned radio and television stations as well as web sites where even residents in far-flung areas can access information. The beauty of this initiative is that it is simple, cheap and effective, especially if it is done with the right mind-set.

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08052020

My.SSS portal and the online Sickness Benefit Reimbursement Application Aurora C. Ignacio

All About Social Security

O

ne of the challenges being faced by the Philippine government during these difficult times is the dynamic landscape of the digital economy. Various efforts and reforms in policies are all directed toward optimizing the benefits of information, communications and technology (ICT) solutions to improve public service delivery. The E-Government Master Plan (EGMP), which was launched in 2013, aims to harmonize and integrate the ICT efforts of the government. Generally, the objective is to automate the processes and to provide online services to the citizens and businesses.

As part of the SSS commitment to the EGMP, the SSS web portal was created. Online accounts for both individual members and employermembers serve as primary channel for providing information and services to them. The My.SSS portal allows SSS member-employers, including household employers, to access their records and perform transactions online. Online services include certification of salary loan application, submission of sickness notification and reimbursement, maternity notification and employment reports, among others.

In our continuing efforts to bring

convenient and reliable services to both our employers and members, the SSS has been continually enhancing its IT programs, especially its My.SSS portal. One of the recent enhancements in the My.SSS portal for employer-members account is the mandatory online filing of the Sickness Benefit Reimbursement Application (SBRA) where employers can easily file their SBRAs in the comfort of their homes even beyond office hours. Saving time and effort on the part of employers, the service allows them to monitor the status of their filed sickness notifications online.

‘Let’s kill all the lawyers’

By Dennis Gorecho

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he first thing we do, let’s kill all the lawyers!” is an infamous line from William Shakespeare’s work titled Henry VI. This has been interpreted in different ways: a critique of how lawyers preserve the privilege of the wealthy and powerful; implied accolade of how lawyers stand in the way of violent mobs; and commentary on bureaucracy and anomaly of the rule of law.

Notwithstanding Shakespeare’s derogatory remarks about lawyers, lawyering is very much a noble profession, says Atty. Ignacio S. Sapalo, managing partner of the Makatibased Sapalo Velez Bundang Bulilan (SVBB) law offices.

Lawyers apply their knowledge of the law to sort out, settle and resolve the countless conflicts among individuals, families and communities.

Atty. Sapalo stressed that on the lawyer’s shoulders fall the challenging task of ferreting out the truth in every case they handle, carefully balancing contending interests to reach fair and just results, and always staying within the bounds of the rule of law.

The 44 years of existence of SVBB law offices—during which it witnessed episodes of political turmoil and economic crisis—are a testa-

ment to the sterling character and resilience of the partners, lawyers and staff of the firm.

Established on August 1, 1976, the heart and soul of SVBB was forged by the vision and leadership of its founders, classmates Eugene A. Tan and Sapalo, both of the Ateneo School of Law batch 1967.

SVBB became one of the frontrunning law firms in the country engaged in intellectual property prosecution, maintenance, licensing, and enforcement.

Intellectual property rights are the rights given to persons over the creations of their minds such as copyright, trademark, patent, utility model, and industrial design.

IP rights give the creator an exclusive right over the use of one’s creation for a certain period of time, ensuring that he is given due recogni-

In addition to the sickness benefit reimbursement, SSS also started accepting online applications for unemployment benefit, salary and calamity loan, and funeral claims from members through their My.SSS accounts.

Through the online facility, the processing time of SBRA has been reduced, thereby eliminating the transmission of the hard copies of claims from the SSS branches to processing centers. Also, employers are not required to transact with the SSS branches personally, thus restricting their movements to prevent the spread of the dreaded Covid-19.

To submit their SBRA online, employers must be registered with the My.SSS portal. They must also be enrolled with a PESONET Participating Provider using the Bank Enrollment Module (BEM) through their My.SSS accounts. Meanwhile, the sickness notification of their employees who are entitled of the sickness benefit must be duly approved by the SSS, and employers also need to submit a certification that indicates that the employee’s sickness benefit was paid in advance.

However, there is only one exemption for sickness benefit claims subject to adjustments and/or refilling, which must be done over-the-

tion or remuneration for his effort.

The governing local law is Republic Act 8942, otherwise known as the Intellectual Property Code of the Philippines.

SVBB later evolved into a full service law firm with diversified practice areas in Philippine law, including corporation/taxation, litigation and labor (specifically seafarers’ claims) with branch offices in Cebu, Davao, Iloilo and Cagayan de Oro. Given the important role of Filipino seafarers, SVBB remains as one of the leading movers advocating seafarers’ rights through initiatives showcasing its commitment to the principle of social justice.

The life of a seafarer is not a walk in the park as they are physically, mentally and emotionally stressed being away from their families and working on board vessels sailing the world’s oceans non-stop for months.

The risks of getting killed, injured or ill are high as seafarers are constantly exposed to several perils and fluctuating temperatures as the ships cross ocean boundaries.

The SVBB cooperates with various stakeholders, such as the churchbased Apostleship of the Seas (AoS) Philippines, in ensuring better

counter at SSS branches because the online facility system only accepts new and initial claims with approved sickness notifications.

In addition to the sickness benefit reimbursement, SSS also started accepting online applications for unemployment benefit, salary and calamity loan, and funeral claims from members through their My.SSS accounts.

As we continue our digital transformation efforts, SSS is encouraging our employer-members to maximize the use of our online services to get updated and reliable information through our online services, which is now under our new normal procedures.

In the coming years, SSS will continue to adapt to the modern culture of IT innovations with the primary objective of providing world-class service and satisfactory customer experience to its members and stakeholders in general.

As what American writer, teacher and futurist Alvin Toffler said, “The great growling engine of change is technology.” Indeed, he hit the nail on the head with that statement.

Aurora C. Ignacio is SSS president and chief executive officer.

We welcome your questions and insights on the topics that we discuss. E-mail mediaaffairs@sss. gov.ph for topics that you might want us to discuss.

protection and more benefits for seafarers.

SVBB also believes that the best way to afford legal protection to seafarers is for them to be informed of their legal rights through nationwide paralegal lectures and through legal publications and radio programs.

“Serving with a heart; driven to challenge change!” is SVBB’s motto, which captures succinctly what the firm is, its culture and values in the protection of the clients’ interests with sensitivity, care, and attention.

“Serving with a heart,” in essence, is an adaptation of the dictum “No master but law. No guide but conscience. No aim but justice” that was immortalized by the well-revered jurist, nationalist and former Supreme Court Justice Jose Benedicto Luis Reyes.

In some aspects, lawyering is intertwined with “politics” in the classical sense of Plato and Aristotle, and viewed as “the art concerned with what it means to be a human being; what is the best life for a human being; and… the ways in which we can order our living together so that good human lives will emerge.”

“Change, indeed, is the rule of the See “Gorecho,” A7

Opinion BusinessMirror

www.businessmirror.com.ph

Wednesday, August 5, 2020 A7

Mutual microinsurance Taxing ‘junk food’ is taxing the poor as instruments of sustainable development Dr. Jesus Lim Arranza MAKE SENSE

Atty. Dennis B. Funa

INSURANCE FORUM

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study was published by the University of Cambridge—Institute for Sustainability Leadership (CISL) in June 2019 on the impact of mutual microinsurance on Sustainable Development Goals (SDG) in the backdrop of Super Typhoon Haiyan (Yolanda) which occurred in November 2013. CARD MBA, as the mutual microinsurer, was the central subject of the study by Dr. Ana Gonzales-Pelaez.

The conclusion was that “mutual microinsurance has the potential to contribute to 10 SDGs by building financially literate, insurable, resilient and empowered communities.”

Specifically, it contributes “to the SDGs by increasing the protection and resilience of low-income communities.” Mutual microinsurers necessarily operates at the community level or in the “informal sector”.

It should come as no surprise that the Philippines is the site of the study since the country has one of the largest microinsurance sector in the world. As a backdrop of the study, it has been observed that only 5 percent of disaster losses are covered by insurance in poor countries, while it is 50 percent for the rich countries. The study focused on 280 households in Eastern Visayas.

Mutual microinsurance refers to those Mutual Benefit Associations (MBAs) that are engaged in microinsurance. Not all MBAs are. The International Cooperative and Mutual Insurance Federation (ICMIF) defines mutuals as “organizations whose legal status may not be classified as such in their national law, but whose structure and values reflect the mutual/cooperative firm, i.e. companies which are owned by, governed by and operated in the interests of their member policyholders. These include limited companies owned by peoplebased organizations, fraternal benefit societies (fraternals), friendly societies, Takaful providers, reciprocals, non-profits, exchanges, discretionary mutual, protection and indemnity clubs, community organizations and foundations.” In the Philippines, these MBAs have been the driving force behind the growth of microinsurance. And CARD MBA is the pioneer in the country being the first to be licensed as an MBA in 2001. CARD started as a microfinance entity that soon realized the risk of a member’s death to the organization’s solvency where loan obligations are not paid. So it created an informal insurance-like activity called “Members’ Mutual Fund” in 1994. It was formalized in 1997.

It is noteworthy that mutual in-

Gorecho. . .

continued from A6

day, but our basic commitment and obligation to protect the interests of our clients remain constant. As good lawyers, we will carefully balance contending interests to reach fair and just results, and always staying within the bounds of the rule of law,”

surers represent almost 30 percent of the global insurance industry by premium volume (ICMIF, Global Mutual Market Share, 2019). And yet, in 45 percent of the world’s countries, local laws do not allow mutual or cooperative insurance.

An important part of CARD MBAs operations is the availability non-life insurance products. In 2007, after Typhoon Durian, CARD MRI Insurance Agency was created to provide non-life products to its members.

In 2013, CAMIA (as the insurance agent) partnered with Pioneer Insurance Company to create CARD Pioneer. CARD MBA owns a 46 percent stake in CARD Pioneer Microinsurance, Inc. (CPMI).

In November 2013, Super Typhoon Yolanda made landfall in Tacloban City causing 7,000 fatalities and injuring 30,000. The total exposure of CARD Mutually Reinforcing Institutions (CARD MRI), the mother entity of CARD MBA, to Super Typhoon Yolanda is $3,227,035. Of this amount, $257,510 represented claims upon CARD MBA (Life insurance of $220,798; credit life of $28,522; and refund of mandatory savings of $8,190). Some $1,592,328 were for CAMIA claims (or nonlife claims). And $1,377,197 as CARD MRI Relief Assistance. These amounts represented 603 life insurance claims (policyholders or dependents) and 125 credit life insurance repayments following the death of the policyholder. It should also be mentioned that CARD MRI distributed almost 180,000 emergency family packs of food and medicines.

The average life insurance payment for principal members was P50,000 and for their legal dependents P10,000. Credit life varied depending on the loan amount of the member. Fifty-two percent were paid in cash within one day; 6 percent paid within two to five days and about 42 percent paid after five days as beneficiaries had temporarily relocated to other provinces. The presence of mutual microinsurer CARD MBA greatly afforded resilience and allowed the insureds the opportunity to get back on their feet in a shorter period of time.

Atty. Sapalo said.

SVBB is committed to perform the noble task of upholding justice with excellence and professionalism, for the good and interest of society, especially the poor and underprivileged.

Atty. Dennis Gorecho heads the seafarers’ division of the Sapalo Velez Bundang Bulilan law offices. For comments, e-mail info@sapalovelez.com, or call 0917-5025808 or 0908-8665786.

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axation in the Philippines is governed chiefly by the Constitution and three Republic Acts. And the most notable provision is articulated in Article VI, Section 28 of the Philippine Constitution, which states that “the rule of taxation shall be uniform and equitable” and “Congress shall evolve a progressive system of taxation.”

I may not be a lawyer, but in my layman’s understanding of this Constitutional provision, taxation in the Philippines must be homogenous and fair. Thus, I cannot rationalize why a proposal to impose tax on foods for their content and for supposedly having zero-nutritional value and branding them as “junk food” is being pushed at the Senate to raise more Covid-19 funds for the government.

What are these so-called junk food anyway? Are these the mami noodles and “chichiriyas” like potato chips, banana chips and peanuts, among others, that most poor Filipinos eat, especially the school children who can’t afford to have burgers for their baon?

But most of these foods have already been fortified with vitamins and nutrients because of Republic Act No. 8976, otherwise known as the Food Fortification Act of 2000.

In fact, even prior to the Act, I had the mami noodle fortified with iron when I handled its marketing years back. So, are these foods still considered “junk” under the proposed legislation?

Branding them as junk food, like their strategy when our legislators softened public resistance and tamed opposition to the House measure seeking to impose a levy on cigarettes and alcoholic drinks by branding them as sin products, followed by the subsequent passing

Intelligence-driven cybersecurity amid digital revolution in Southeast Asia

By Yeo Siang Tiong

A

mong the obvious effects of this pandemic is the rapid rise of online payment services and digital banking across Southeast Asia. Due to various social distancing restrictions, people from across the region now opt to avoid the brick-and-mortar bank branches deemed as a public space where coronavirus may flourish, in turn kicking off the increased use of the physically safer option— e-wallets and mobile payment applications.

It is, however, far beyond surprising. As early as late 2019, before Covid19’s massive effect across Southeast Asia, I’ve read an article which revealed that online financial transactions in the region will be a $1 trillion business by 2025 and the digital wallet segment is set to jump fivefold to $114 billion during the same year.

I believe these two key sectors will go far beyond these predicted numbers as we try to minimize human contact for the sake of our physical health. In fact, a latest study noted that 40% of consumers in the region admitted to using e-wallets more than ever. Malaysia is leading the way when it comes to this area. On the other hand, cash is slowly being dethroned as king as lesser people use banknotes to purchase or trade goods and services.

Fertile land for online payments

What makes the region a fertile land for digital banking and online payment systems is the fact that it houses countries with young population—millennials and Gen Z’s who are not used to physically visiting financial buildings, queuing for a long time to fill up forms, like how the generations before them have done.

Another important factor is that there is still a significant percent of individuals who are unbanked or underbanked, which means those without any bank account or credit statements to begin with. This is particularly true in still emerging countries like Indonesia, Malaysia, Thailand, the Philippines, and Vietnam.

In Singapore, the public and the private sector are also campaigning

to improve the online financial literacy of the country’s older population.

Several groups are hosting a series of training to drive the 54 and above age group in embracing payment apps and e-wallets. Based on the recent survey, the efforts are bearing fruit as the older Singaporeans now agree to use these remote tools and apps to do their monetary transactions.

Financial sector’s growth pains

AT the center of this digital revolution is trust. Customers are using e-wallets, mobile banking, and web applications driven by necessity. Now more than ever, they need to trust financial institutions to secure their hard-earned and definitely much-needed money.

Digital transformation, of any sector, always presents new challenges, especially for banks and for financial services. To put it simply, revolutionizing banks’ way of doing transactions means overhauling their legacy systems including people, process, and technology.

Humans remain the weakest link.

Customers, especially those that are not digitally native, lack the proper awareness about the simplest risks like phishing and spam. Internal employees require new training and third party services should also be assessed comprehensively.

Processes have to be adapted to the digital world. Data required a sophisticated level of encryption, access and data management should be reviewed and given intelligently, additional security also required additional security budget.

When it comes to security, end-

This app could solve a big reopening problem

By Cathy O’Neil Bloomberg Opinion

V

entilation is perhaps the most underappreciated challenge of reopening during the Covid-19 pandemic. As people increasingly return to indoor spaces such as office buildings, airports, schools and restaurants, they’ll need plenty of outside air, so they won’t walk into a cloud of coronavirus spray. But how can they

trust building managers to ensure it’s safe to breathe?

They can’t. Which is why I think people need to cooperate—with the help of technology—to monitor air quality themselves.

Through tragic trial and error, we now know some things about Covid-19 transmission. Being outside, socially distanced and wearing masks is pretty safe. Being crowded inside with poor ventilation is not. The pandemic’s surge

of the Sin Tax Law, I would not be surprised to wake up one morning with a new tax burden on supposedly junk food and calling the additional burden “junk food tax.”

Perhaps, the proponents of the bill to tax junk food are trying to avoid a similar situation that happened during the 17th Congress when the “Asin Tax,” a proposed legislation to tax salted foods for health reasons, was withdrawn after getting strong opposition at the House for allegedly being anti-poor.

In our discussions with former Senate President Juan Ponce Enrile during our radio program “Dito sa Bayan ni Juan” on July 18, 2020, we examined the issue on the proposed levy on junk food. And Enrile, who is a Harvard University Master’s degree holder in Taxation, explained that taxing only certain products for their content and not taxing other food items that have the same content would be tantamount to unequal taxation. This is definitely a violation of the constitutional provision on equal protection of law.

Thus, in light of the sufferings of the poor Filipinos because of this pandemic, with many of them practically struggling to survive after losing their jobs due to the closure of factories and businesses, maybe our legislators can find other ways to

in the southern and western US has a lot to do with people seeking refuge from the summer heat in spaces where airconditioning systems recirculate inside air, exposing them all to each other.

Northern states will face a similar problem soon, when colder weather forces more people inside.

Pre-Covid trends in building design don’t help. Consider modern offices.

Open plans and tightly sealed windows might be great for productivity and

energy efficiency, but they’re problematic from an epidemiological perspective. Even before the pandemic, sealed buildings presented an air quality issue: Carbon dioxide levels could spike if ventilation systems failed to handle all the human exhaling. At levels exceeding 1000 parts per million (compared with the typical 400 ppm outside), the pollution could cause drowsiness and headaches, symptoms associated with “sick building syndrome.”

point should be the foundation and banks should have known this by now.

Financial services, as they transform and carry more data behind their back, should be looking at adaptive approach in security, which should be proactive rather than reactive – ready before an attack happens.

Banks and e-wallet providers

The future may be foggy as different technologies continue to be developed, AI, 5G, Internet of Things, cryptocurrency, name it. But the past offers concrete lessons the financial sector could learn a lot from.

The unfortunate answer to the questions why banks and e-payment service providers should take cybersecurity seriously is the $81 million Bangladesh Bank Heist, which rocked the world in 2016. This incident, which started with a spear-phishing e-mail clicked by an unsuspected employee, ended up costing a lot of professional, reputational, and financial losses.

Based on our telemetry, financial phishing is still being used rampantly with our solutions blocking more than 40 million financial-related fraudulent e-mails just from January to May of this year.

The cybercriminal group responsible for this incident, based on pieces of evidence gathered by our researchers as well as other investigators, is the infamous Lazarus group. It is the same cybercrime group responsible for the Sony Pictures attack in 2014 and even the Wannacry ransomware attack in 2017.

Our very own Research and Development Team at Kaspersky, which we call GreAT (Global Research and Analysis Team) has been monitoring Lazarus group closely for years. Through this intelligence, we can detect the possible tactics, techniques, and procedures (TTPs) they may use when they try to get into an enterprise’s or an organization’s system. We can block them, analyze, and alert the team on which TTPs to look out for based on the previous behavior of this actor.

The upside of the CO2 issue is that it provides a proxy for a building’s Covid safety. It’s not perfect: Levels could be elevated due to environmental factors other than too many people breathing in the same space. But a high reading is a pretty good red flag, and in any case suggests the air is bad for people’s health. A well-functioning climate control system should kick in and ventilate. If it doesn’t, something is wrong.

Which brings me to my proposal.

raise Covid-19 funds for the government, instead of putting additional burden on the poor with a new junk food tax.

According to the Department of Labor and Employment (DOLE), of the 3,000 businesses and factories that manifested their plans to shut down operations because of Covid-19, over 200 of them have already folded up. Thus, I find it untimely and inappropriate to impose a new tax burden on an already struggling Filipino nation, especially the poor, who would suffer most under the proposed tax on junk food.

Moreover, the government is losing over P250 billion in potential revenues due to smuggling. If this is properly addressed, it could increase the market share of local businesses in the Philippine economy to the tune of trillions of pesos or even more. Is this not a better solution for the government to adopt? Stop smuggling and we can definitely raise more Covid-19 funds while protecting local businesses at the same time.

Dr. Jesus Lim Arranza is the chairman of the Federation of Philippine Industries and Fight Illicit Trade; a broad-based, multisectoral movement intended to protect consumers, safeguard government revenues and shield legitimate industries from the ill effects of smuggling.

This is how critical threat intelligence is. It can supply enterprises with the essential data needed for you to combat future cyberattacks against your organization.

At Kaspersky, we deliver threat intelligence in different forms but with one aim—to give enterprises and organizations a 360-degree view of the current threat landscape. For instance, our Threat Data Feeds provides actionable data, saving your IT workforce’s time spent dealing with false flags. We also have Financial Threat Intelligence Reporting which is specifically made for the financial sector, focusing on the threats and tools cybercriminals are using or selling to target banks, payment processing companies, ATMs and POS systems.

Threat intelligence, however, is just one part of a proactive approach to cybersecurity. Again, it’s people, process, and technology. Proper and effective training for all employees should be done regularly. Awareness matters as the biggest cyberattacks usually start with a simple human error.

Given the evolving nature of cyber threats that are expected to become more sophisticated, it is also important that financial institutions have the necessary tools that can help track threats that can evade regular endpoint solutions, even before they hit you. For example, solutions such as Kaspersky Anti-Targeted Attack can help you pre-empt what is out there and how it can affect you before such an attack commences.

We are at the middle of a digital revolution and the use of online payment gateways and e-wallets are certainly here to stay and even increase.

While it is a huge responsibility for banks and financial service providers to secure their virtual systems, I am certain they can pilot their way to the future as long as they build their cyber defenses intelligently.

The author is the General Manager for Southeast Asia at Kaspersky, a global cybersecurity company founded in 1997.

Personal CO2 monitors are not expensive: I bought one on Amazon for $125.

If enough people had them (perhaps with the aid of targeted subsidies), and if someone in the tech world created an app to collect and aggregate the readings, we could have a regularly refreshed database of the CO2 levels in every significant building. It could even be integrated with Google maps, so people could quickly and easily check whether a building was safe to enter.

A8 Wednesday, August 5, 2020

No Chinese takeover of Fuga Island, says Ceza

By Elijah Felice E. Rosales

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@alyasjah

HERE are no plans by the Chinese, nor any investor for that matter, to develop Fuga Island, the Cagayan Economic Zone Authority (Ceza) reported on Tuesday, belying the circulating claims about an alleged takeover of the isolated Philippine territory.

In a statement, Ceza Deputy Administrator Agrimero Cruz denied reports that China is in the process of acquiring and militarizing Fuga, an island to the north of Luzon. These allegations were based on a lapsed memorandum of understanding (MOU) entered into by the Ceza with Fong Zhi Enterprise for the development of a smart city in Fuga.

“We are fully aware of the fact that the Cagayan Special Economic Zone and Freeport is geographically configured in a very strategic location not only in terms of economic investment viability but more so in terms of national security and disaster response especially in the northern Philippines,” Cruz explained.

Cruz, a retired police general, maintained that it is only under the present Ceza leadership that the agency is coordinating with the military to safeguard the country’s topmost frontier. He said the MOU with Fong Zhi has already expired and there are no investment proposals in Fuga at the moment.

“That MOU with Fong Zhi has already effectively lapsed and to

date, Ceza has not received any other proposal for investment in Fuga Island,” Cruz stressed.

The Ceza executive said the MOU with Fong Zhi that was signed last year is only a marketing tool to entice foreign investors to set up shop in the Cagayan economic zone. He added it has an effectivity of six months only and is nonbinding on terms and conditions.

Further, the intent of the MOU is for the Ceza and Fong Zhi to explore business partnerships in Fuga Island.

Had there been an investment plan there, the investor, like any other, would have had to undertake such procedures as conducting project feasibility studies, environmental impact assessment and master planning. It would also have had to make a proposal before the Ceza Board of Directors, who will look at the project and evaluate it for approval.

“Fuga and its adjacent islands Mabbag and Barit are owned by private entities who offer these properties to foreign investors for investment opportunities,” Cruz made clear.

To strengthen military presence in the Cagayan economic zone, the Ceza last year entered into an agreement with the Philippine Navy formalizing the plan to build a naval detachment in Fuga and in one of the three islands of Aparri. These islands, along with the town of Santa Ana, make up the whole of Ceza’s jurisdiction.

35-day T-bills swamped on first day of MECQ 2

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By Bernadette D. Nicolas

@BNicolasBM

NVESTORS flocked to government securities on Tuesday, the first day of the reimposition of a lockdown in Metro Manila, as the Bureau of the Treasury (BTr) fully awarded P15 billion in 35-day Treasury bills (T-bills).

The short-term governmentbacked debt papers fetched the lowest-ever average rate at 1.157 percent, a plunge of 52.7 basis points from 1.684 percent in the previous auction.

National Treasurer Rosalia V. de Leon told reporters the strong demand for the tenor persisted as the market is still awash with liquidity and investors still opt to park their funds in government securities.

Tuesday’s auction coincided with Day 1 of the second modified enhanced community quarantine (MECQ) wherein government reimposed stricter rules on mobility

and business operations, but avoided a return to a hard lockdown, as sought by exhausted medical frontliners swamped by rising Covid-19 cases.

Total bids for the tenor reached P31.725 billion, more than twice

the P15-billion offer.

For this month, the Treasury programmed to borrow P170 billion from the local debt market.

Government has been on a borrowing binge to fund an economy that has been stalling since the first ECQ was imposed last March 17.

De Leon said the BTr is working on the issuance of “Premyo” Bonds, particularly its volume and tenor.

The issuance of this bond last year fetched for gover nment around P4.961 billion, which was 65 percent higher than the initial size of P3 billion.

The issue size was increased following “remarkably strong demand from the investing public” during the three weeks these were offered from November 25 to December 13.

The prize bond float received wide participation among small savers and overseas Filipino workers, with its offer of cash and other rewards on top of assured income from a safe investment.

PhilGuarantee gives ₧5.5-B credit cover

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TATE- OW NED Philippine Guarantee Corp. (PhilGuarantee) extended P5.53 billion in credit guarantees for the first quarter of the year to its 35 partnerinstitutions lending to small farmers and fisherfolks (SFFs) or their organizations.

In a statement, PhilGuarantee said its partner lending institutions (PLIs) have so far made guarantee enrollments of P2.20 billion, serving more than 31,00 agriculture-based workers in the country.

As the administrator of the Agricultural Guarantee Fund Pool, PhilGuarantee is able to encourage partner-institutions to lend to SFFs or their organizations, by providing guarantee coverage to their unsecured agricultural production loans.

Eligible lending institutions include banks, cooperatives, farmers/ people’s organizations other than cooperatives, nongovernment organizations, and corporations lending to SFFs. At the height of the enhanced community quarantine period, the PhilGuarantee Governing Board approved the reduction of the rate of guarantee fee from 1 percent to 0.5 percent and the increase of the guarantee coverage from 85 percent to 90 percent of the loan amount. The above measures were effective from April 15 to July 15, 2020, and applied to loans granted to palay farmers.

Aside from reduced guarantee fees and the 90 percent risk-free coverage, the zero risk weighting provision has been afforded to PLIs beginning May 15, 2020, in accordance

with Bangko Sentral ng Pilipinas Circular 1084, Series of 2020.

This initiative of PhilGuarantee to the agriculture sector is also in line with the institutional thrust of corporate social responsibility by financing for development, with the end in view of not only assisting affected sectors but also contributing to employment generation and livelihood opportunities.

Apart from the agriculture sector, PhilGuarantee also extended support to the micro, small and medium enterprises (MSME) when it approved a total of P37.5 billion in credit guarantees for loans granted by 22 accredited banks as of June 30 this year.

PhilGuarantee earlier said it expects a substantial increase in guarantee applications as banks have reportedly already completed the review of their MSME loan portfolios.

The special credit guarantee program aims to support P120 billion in working capital loans to be granted by banks to its MSME borrowers that were adversely affected by government’s lockdown against the spread of Covid-19.

The program provides for a 5050 credit-risk sharing arrangement whereby PhilGuarantee guarantees lending to banks against the losses they will incur in lending to MSMEs. PhilGuarantee said loans released by banks beginning March 16 this year are eligible for guarantee.

Guarantee premium for this program has been reduced while origination fees are waived up to December this year. Bernadette D. Nicolas

AIRPORT security personnel are seen at the deserted arrival area at Terminal 3 of the Ninoy Aquino International Airport in Pasay City. All domestic flights were canceled as the government implements a 15-day modified enhanced community quarantine (MECQ) in the capital and nearby provinces following pleas from medical frontliners for a timeout, as coronavirus cases continue to rise. NONIE REYES

House eyes full package stimulus bill in 2 weeks

By Jovee Marie N. dela Cruz

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@joveemarie

HE cochairman of the economic cluster of the House of Representatives on Tuesday said the lower chamber is targeting to pass a “full package” stimulus bill within the next two weeks.

Albay Rep. Joey Sarte Salceda, however, admitted that the leadership is still finalizing its final version of the Bayanihan to Recover as One or the Bayanihan 2.

“Very likely, we will have enacted a full package within the next two weeks. I expect the coming GDP [gross domestic product] figures to emphasize the urgency of passing the package. I expect a doubledigit decline, although, again, that is merely a recording of what has already happened, so it should no longer harm us more than it already has,” Salceda said.

“I proposed to the Speaker that we discuss the stimulus bills as one big package of reforms, so that we can discuss them all in a more holistic context, instead of discussing them one by one. It should not be lost upon us, both the House and the Senate, that the ultimate goal of all the proposals is economic recovery, and that the programs should work to complement one another,” he added.

Salceda said the stimulus bills are still top priority of the 18th Congress.

The Senate already approved its version of the P140-billion Bayanihan 2 while the House version is still pending for the plenary approval.

“We have already allowed remote discussions, and have been productive in this modality in the past. Much committee and plenary work has already been done online, so the imposition of MECQ [modified enhanced community quarantine] should not present problems for us,” Salceda said.

‘No to piecemeal’

HOUSE economic cluser cochairman and Marikina Rep. Stella Luz Quimbo has said a piecemeal stimulus will not be an effective tool for an economic recovery amid a pandemic.

If the plan is to propose the ARISE interventions as separate budget items in the 2021 budget, Quimbo said “this will not be an effective economic stimulus package.”

She added: “If the approach becomes a piecemeal, like regular budget items on proposed interventions.

How do we know which of these are counted towards the incremental effort of responding to Covid? Maybe we thought it was a stimulus, it was a long plan even without Covid.”

In all other countries in the world, the steps taken to revive the economy are in distinct economic packages, she noted.

Earlier, Salceda said the Congress plans to approve the stimulus package in three tranches with the last tranche to be inserted under the 2021 national budget.

Salceda said the House will adopt the Senate’s P140-billion counterpart bill to the House’s Accelerated Recovery and Investments Stimulus for the Economy of the Philippines (ARISE). If ever, this version will be the second stimulus package as Congress considered the Bayanihan to Heal as One Act as the first stimulus package.

This second stimulus is expected to be implemented up to September of this year.

Also, Salceda said the House leadership is now considering the Executive Department’s “openness” to a third tranche of economic stimulus by July. He said this recovery measure can include around P280 billion. The target implementation of this third stimulus is the fourth quarter. Salceda said they also recommended the inclusion of around P280 billion in the 2021 national budget.

Companies BusinessMirror

www.businessmirror.com.ph

Petron losses widen as fuel consumption remains weak

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By Lenie Lectura

@llectura

etron Corp.’s net loss in the first half of the year reached P14.2 billion, a reversal of the P2.6-billion net income it posted a year ago, mainly due to the collapse in global oil prices and the decline in fuel consumption.

Revenues also went down to P152.4 billion, from P254.8 billion during the period. Consolidated sales volume from its Philippine and Malaysian operations fell by 19 percent to 41.9 million barrels, from 51.9 million barrels a year ago due to the impact of Covid-19 on fuel demand.

Philippine sales volume dropped 28 percent due to reduced consumption, particularly by the aviation and retail industries, due to the lockdown restrictions imposed in cities.

The company suffered a net loss

of P4.9 billion in the first quarter, compared to last year’s net income of P1.3 billion.

“The combined slump in demand, poor refining margins, and collapse in prices resulted in Petron’s consolidated net loss of P14.2 billion for the first six months of 2020 versus its P2.6 billion net income in 2019.

During the said period, the company suffered inventory losses of nearly P15 billion,” the country’s No. 1 oil refiner reported Tuesday.

Petron said the worldwide lock-

downs resulted in an “unprecedented demand destruction” which led to a sustained drop in oil prices, reaching record low levels in 26 years.

Dubai crude collapsed by almost 70 percent or $44 per barrel (bbl) from January to April when oil prices fell to as low as $13/bbl in daily trading. As oil consumption declined, refining margins also remained weak in the region.

Despite tough times, Petron vowed to continue improving its productivity and reduce expenses to cope with Covid-19’s impact. It has also initiated cash preservation initiatives and managed its capital expenditure spending.

“The company forecasts modest gains from inventory of about P3.5 billion in the second half of the year as prices start to recover. As the economy slowly reopens, we will need to find new ways to adapt to these new and unprecedented economic realities and remain resilient,” said Petron President and CEO Ramon S. Ang. “Just as we have survived many

hardships in the past, we know we can rely on our strong corporate culture to pull us through this most challenging period."

Nearly all Petron service stations have reopened or resumed normal operating hours. Furthermore, Petron assures the public that its service stations remain safe and Covid-free.

On top of its already stringent standards, stricter safety protocols are now in place at its service stations to ensure that its customers and personnel remain protected from any threats of the virus.

“Expanding our safety protocols at our stations was something that we immediately did at the start of the pandemic. This includes temperature checks for our personnel, wearing of face masks, physical distancing, more frequent sanitation, and even promoting cashless payment. We also enforce even more rigid guidelines to reduce health risks and keep our facilities and communities safe,” Ang said.

Globe slashes capex for this year

By Lorenz S. Marasigan @lorenzmarasigan

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lobe Telecom Inc. has decided to cut its capital expenditure (capex) program by a fifth to P50.3 billion, from P63 billion, due to limitations on mobility that brought delays to its network rollout plans.

Ernest L. Cu, the company’s president, said the group has so far spent P20.9 billion of the programmed capex for the year. The amount represents 29 percent of its revenues and 54 percent of its earnings before

interests, taxes, depreciation, and amortization (Ebitda).

“Globe’s network has withstood and continues to prove its resilience during this Covid-19 pandemic. Our priority to keep our network up to speed has allowed us to continuously serve our customers and ensure that communities stay connected during these tough times,” he said.

Cu also reported that Globe’s net income in the first half declined by 5 percent to P11.5 billion from P12 billion the year prior, as a result of higher depreciation consolidated brought about by continued network

investments.

Service revenues were almost flattish at P72.4 billion, while total operating expenses including subsidy remained at P34 billion.

Its core net income, also affected by higher depreciation costs, stood at P12 billion, or an 8-percent decline from a year ago.

“While we expect revenues for full year 2020 to decline by low single digit against last year, given the impact of community quarantine restrictions, we do see growth opportunities on the home broadband front and ICT space,” Cu said.

Higher demand for internet connectivity and cloud solutions, he added, is expected, as companies have been forced to adapt remote working for employees and to fasttrack their digitalization efforts.

“Mobile data and digital solutions will also increase traction with more customers adopting a digital lifestyle in the new normal. Despite the challenges, we are confident in our effective cost management efforts, to keep our Ebitda at around the 50-percent level, ensuring the sustainability of our operations and services.”

PAL cancels RCBC mulls over launch of bond offering flights to and from Manila

By Tyrone Jasper C. Piad @TyronePiad

By Recto Mercene @rectomercene

F

lag carrier Philippine Airlines on Tuesday cancelled all domestic flights to and from Manila, from August 4 to 18, after the government placed the National Capital Region (NCR) under modified enhanced community quarantine (MECQ).

However, the company said domestic flights between Clark, Cebu, Davao and cities other than Manila are not affected and shall remain operational. PAL said international flights to and from Manila shall continue to operate, subject to further guidelines from the authorities in line with quarantine capacity and related arrangements.

Domestic passengers of all canceled flights have options to rebook, refund or convert their ticket into a travel voucher.

“We seek the understanding and full cooperation of our passengers as we make these necessary changes to comply with the government directives and above all to support public safety,” PAL said in a statement.

President Duterte again placed NCR, Bulacan, Cavite, Laguna and Rizal under MECQ after health-care workers appealed for the reimposition of strict quarantine measures.

Health-care workers made the appeal after Metro Manila and Calabarzon recorded spikes in Covid-19 cases.

R

izal Commercial Banking Corp. (RCBC) said it is still looking for the right opportunity to tap the offshore bond market again amid the Covid-19 pandemic.

In a statement on Tuesday, the Yuchengco-led bank said it continues to monitor the developments in international markets to evaluate when it would launch a dollar-denominated bond offering.

RCBC Senior Executive Vice President and Treasurer Horacio E. Cebrero III said that, for now, the bank has decided to delay the said offering mainly because it remains highly liquid.

“The planned US dollar senior

note that we were looking at for this year has been pushed back primarily due to the high liquidity level that the bank currently maintains, and partly due to the developments in the interest and credit markets as a consequence of the ongoing pandemic,” he explained.

RCBC announced in June that it approved the issuance of additional securities amounting to $300 million for its green and social project funding. It consisted of non-cumulative unsecured subordinated capital securities which are eligible as additional tier 1 capital under Basel 3.

Still, Cebrero said that RCBC would “not hesitate” to return to the international bond market to raise funds for its requirement and diversify investment portfolio.

This year, the Yuchengco-owned bank has already launched two local bond offerings. Proceeds of the fixed rate bond offerings are allocated to finance asset growth, maturing obligations and other general corporate matters.

RCBC listed its P7.05-billion fixed-rate bonds in Philippine Dealing and Exchange Corp. (PDEx) in April, noting that a strong demand from investors allowed its offering to be oversubscribed by more than two times.

Last month, the bank listed with PDEx anew a bond offering whose order book reached P16.6 billion or more than five times the minimum issue size of P3 billion. The listed bank said it has raised over P54.17 billion already since it launched its bond program last year.

ByteDance CEO: Trump’s real goal is to kill off TikTok

T

he investigation of the United States into ByteDance Ltd.’s TikTok is really intended to smother a Chinese-owned app that’s become a sensation with Americans, founder Zhang Yiming told employees in China Tuesday.

In his second missive to the troops in as many days, the billionaire entrepreneur said a government probe into the company’s 2017 purchase of Musical.ly,—TikTok’s progenitor—was intended to spur a complete shutout. Escalating US-China tensions had prompted American politicians to warn that the app posed a potential national security threat and call for an investigation into whether US user data was being shared with Beijing, accusations that ByteDance has repeatedly rejected.

Beijing-based ByteDance has come under pressure from the White House and US lawmakers

to sell off its US TikTok operations and now has until September 15 to hold negotiations with Microsoft Corp. over such a deal. President Donald Trump said on Monday any sale of TikTok’s American operations would have to include a substantial payment to the US, though it wasn’t clear under what authority he can extract a payment.

While a forced sale of TikTok to US buyer is “unreasonable”, it is still part of a legal process and the company has no choice but to abide by the law, Zhang said. “But this is not their goal, or even what they want. Their real objective is to achieve a comprehensive ban,” he wrote.

Zhang’s comments were echoed by prominent venture capitalist Lee Kai-Fu, who wrote Tuesday on Chinese social media he found the fracas around TikTok “unbelievable.” The former head of Google’s Chinese operations added that

while Google was forced to leave China, Beijing had always been clear about its restrictions while Trump lacked a legal basis to bar TikTok. In a separate letter yesterday, Zhang said ByteDance is exploring all possibilities to resolve an intensifying confrontation with Washington and that the world’s largest startup has made no final decision on options. The CEO said on Tuesday that both he and ByteDance have come under intense criticism at home following news of a possible sale and thanked China employees for their efforts.

Beijing has also waded into the fray. China’s government won’t accept an acquisition of TikTok’s US operations by Microsoft Corp. and may take action against Washington if a sale is forced, the state-run China Daily said in an editorial Tuesday. Bloomberg News

Wednesday, August 5, 2020

B1

Exec: In-house brands drive AllHome margins

www.allhome.com.ph

A

llHome Corp., the listed retail arm of the Villar Group, on Tuesday said its in-house brands generated higher margins and allowed the company to claim the top position in the country's home essentials and home improvement sectors.

Products sold exclusively by the company have contributed to AllHome’s sales of P3.37 billion in the first quarter, and increased gross margin to 30.7 percent, from last year's 29 percent, the company said.

“It is a firmly-held belief in AllHome that exclusive product diversification will benefit both the company and its loyal consumers.

AllHome sees further improvement in the revenue share of these in-house brands over the medium term, as these provide choice alternatives to customers,” Manuel B. Villar Jr., the company's chairman, said.

The company, which currently has 45 branches, has 31 in-house brands as of the first quarter, from just 27 brands last year.

Its exclusive brands include Kreativ, LivArt, Grab and Go for furniture; Blossoms, EZ space and Elements for homewares; Ho-

methreads for linens; Markel, Toughnotch and Leuchte for hardware; Rossio, Lustro, Brauhn, Teuer, Wudland and Eisei for tiles and sanitary wares; and Kernig, Finestra, Emboss and PolyShade for construction materials.

Camille Villar, the company's vice chairman, said high-performing brands in the first quarter included Lustro, Rossio and Brauhn.

“This is a result of well-chosen tile designs as well as unique, functional sanitary ware items that are displayed elegantly and prominently in the stores. The company currently sees continuous growth for all exclusive brands, most especially the ceramics line,” she said.

“Inventory for these in-house brands are stable, despite current pandemic uncertainties. We maintain six to eight months’ worth of inventory. Although tiles and sanitary wares is one category with stock acquisitions affected by the pandemic, we have addressed this by importing from South East Asian countries that provide easier logistics.” VG Cabuag

Metrobank urges use of digital platforms

M

etropolitan Bank & Trust Co. (Metrobank) vowed to continue providing banking services to its clients amid the recently imposed stricter lockdown measures.

“While Metro Manila and surrounding areas are under modified enhanced community quarantine [MECQ], we will continue to provide meaningful banking,” the listed bank said in an advisory.

The government placed the capital region, along with Cavite, Laguna and Rizal, under MECQ again from August 4 to 18 amid the recent surge in Covid-19 cases.

Metrobank also advised its clients to continue using the bank’s digital platforms for their transactions.

“For your convenience, you may continue your transactions on Metrobank Online or the Metrobank Mobile App,” it added.

In the first semester, the Ty-led bank saw its net earnings decline by 30 percent to P9.1 billion, from last year's P13 billion on the back of higher loan loss buffer. Metrobank raised its provisions for credit risks to P22.8 billion to shield its loan portfolio from the impact of the current economic downturn. This figure is five times more than P4.6 billion it booked in the comparable period last year.

“Consistent with our conservative business strategy, we are very mindful of future risks that will likely impact the entire banking industry, so we are doing an early build-up of larger provisions to ensure our readiness,” Metrobank President Fabian S. Dee said.

For the period, the bank's net loans and receivables dipped by 5 percent to P1.3 trillion while deposits rose by 5 percent to P1.7 trillion. Tyrone Jasper C. Piad

B2

Companies BusinessMirror

Wednesday, August 5, 2020

PSE STOCK QUOTATIONS

August 4, 2020

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

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

44.25 87.15 64.5 20 6.62 7.19 33.5 8.02 19.8 47.05 15.72 89.1 52.95 0.67 20.8 2.41 0.95 0.275 0.6 156.5 1752

45.95 87.2 64.6 20.05 8.49 7.2 33.9 8.2 19.9 48.4 15.96 89.25 53.1 0.73 21.2 2.55 0.99 0.29 0.63 158 1790

44.05 85.25 64.75 19.4 8.49 7.05 33.5 8 19.56 47.1 15.6 87.3 52.95 0.74 20.9 2.43 0.95 0.275 0.6 156.5 1790

46 87.5 65.25 20.05 8.49 7.2 34 8 19.96 47.1 15.72 89.45 53.1 0.74 21.2 2.65 0.95 0.275 0.63 158 1790

44.05 85.25 64.3 19.38 8.49 7.05 33.5 8 19.52 47 15.6 87.3 52.95 0.73 20.9 2.4 0.95 0.27 0.59 156.5 1790

45.95 87.15 64.5 20 8.49 7.2 33.5 8 19.8 47 15.72 89.15 52.95 0.73 21.2 2.55 0.95 0.275 0.63 156.6 1790

7700 2238630 2609650 99200 100 244900 3156000 46800 31600 3000 33100 249970 17650 17000 11700 422000 3000 260000 44000 690 5

353645 194808747 169184122 1972615 849 1757511 106428010 374400 620820 141160 516372 22232870.5 935448.5 12430 245925 1054130 2850 71250 26760 108480 8950

340240 -26111237.5 -52973828 -673517 -77287990 -149280 37600 -6626981.5 -7880 12520 -

INDUSTRIAL AC ENERGY 2.7 2.71 2.57 2.72 2.55 2.71 28578000 76418620 8681120.0001 1.14 1.15 1.14 1.16 1.14 1.15 43000 49410 ALSONS CONS ABOITIZ POWER 24.95 25 25 25.25 24.9 25 1449600 36247145 264340 0.151 0.162 0.164 0.164 0.164 0.164 10000 1640 BASIC ENERGY FIRST GEN 26.5 26.8 26.7 26.8 26 26.8 1535500 40819765 25969745 59.5 59.8 57.8 59.8 57.8 59.8 11280 667065.5 -405695.5 FIRST PHIL HLDG MERALCO 257 257.2 259 262 256.4 257 166340 43011778 250076 12.4 12.5 12.32 12.68 12.32 12.5 1835700 22940536 -4181786 MANILA WATER PETRON 3.04 3.06 3.01 3.08 3.01 3.06 989000 3015150 -219339.9999 3.2 3.34 3.42 3.42 3.18 3.3 49000 160440 3250 PETROENERGY PHX PETROLEUM 11.08 11.4 11.4 11.4 11.4 11.4 10200 116280 17.1 17.14 17 17.12 16.8 17.1 57100 968552 -103070 PILIPINAS SHELL SPC POWER 7.98 8 8.05 8.05 7.98 7.98 22700 181653 7.12 7.28 7.04 7.4 7.04 7.29 70600 513802 38783 AGRINURTURE AXELUM 2.02 2.05 1.91 2.06 1.91 2.05 4121000 8186140 -5021800 14.46 14.5 14.5 14.54 14.42 14.48 723800 10481826 -2601066 CENTURY FOOD DEL MONTE 5.98 6 6.12 6.35 5.92 5.98 543100 3288881 -1268359 4.51 4.52 4.56 4.7 4.52 4.52 4724000 21554130 -6401790 DNL INDUS EMPERADOR 9.07 9.08 9.12 9.12 9.03 9.07 42195700 382,363,888( 364,694,568.9997) 62.4 62.55 62.8 62.8 62.2 62.55 195510 12229171 -2263464 SMC FOODANDBEV ALLIANCE SELECT 0.61 0.62 0.61 0.61 0.61 0.61 30000 18300 1.25 1.26 1.12 1.26 1.11 1.25 18296000 21861310 -297189.9997 FRUITAS HLDG GINEBRA 33 33.7 33.7 33.7 33.7 33.7 2600 87620 126.2 127.4 127.2 130.8 126.2 126.2 657170 84498990 -17410450 JOLLIBEE MACAY HLDG 7 7.14 7.12 7.15 7.12 7.15 7000 49900 4.45 4.48 4.48 4.49 4.42 4.45 401000 1784600 -404400 MAXS GROUP SHAKEYS PIZZA 5.6 5.62 5.68 5.7 5.59 5.62 2232300 12545878 548808 1.17 1.2 1.19 1.21 1.16 1.16 1039000 1230780 17550 ROXAS AND CO RFM CORP 4.35 4.48 4.48 4.48 4.4 4.4 4000 17840 1.4 1.59 1.4 1.4 1.4 1.4 33000 46200 ROXAS HLDG SWIFT FOODS 0.105 0.108 0.103 0.105 0.103 0.105 120000 12400 130.5 130.6 125 130.9 124.1 130.5 3957260 510920663 137247936 UNIV ROBINA 0.75 0.76 0.74 0.78 0.74 0.76 2106000 1603780 -99600 VITARICH CONCRETE A 52 56.45 53.05 53.05 51.15 52 2790 145321 52.2 56.6 52.3 52.3 52.2 52.2 1180 61625.5 CONCRETE B CEMEX HLDG 0.9 0.91 0.91 0.94 0.89 0.91 22782000 20627300 -4478820 10.02 10.12 9.8 10.1 9.8 10.02 123500 1236988 444438 EAGLE CEMENT EEI CORP 5.08 5.09 5.1 5.1 5.03 5.09 339500 1727078 4.89 4.9 4.69 4.97 4.69 4.9 581000 2822850 521120 HOLCIM MEGAWIDE 6.61 6.65 6.6 6.75 6.5 6.65 661200 4389781 -77668 0.69 0.7 0.69 0.69 0.69 0.69 60000 41400 TKC METALS VULCAN INDL 0.73 0.74 0.75 0.76 0.74 0.74 245000 181450 1.84 1.9 1.9 1.9 1.88 1.9 11000 20800 CROWN ASIA EUROMED 2.08 2.09 2.1 2.14 2.06 2.08 2184000 4586970 -104000 18.12 18.2 18.1 18.3 18.1 18.2 2200 40050 CONCEPCION GREENERGY 1.68 1.69 1.65 1.71 1.65 1.69 2292000 3867180 355730 4.59 4.6 4.6 4.64 4.59 4.6 148000 681120 -23070 INTEGRATED MICR IONICS 0.95 0.98 0.95 0.98 0.95 0.95 82000 77930 1.37 1.38 1.39 1.42 1.35 1.37 3347000 4631420 SFA SEMICON CIRTEK HLDG 5.52 5.55 5.31 5.63 5.3 5.55 712600 3947053 -111400

HOLDING & FRIMS ABACORE CAPITAL 0.465 0.47 0.46 0.475 0.46 0.465 3800000 1774350 7.45 7.92 7.8 7.97 7.05 7.91 33500 262642 ASIABEST GROUP AYALA CORP 705 710 696.5 707.5 696 705 256220 179900975 45.35 45.95 45.1 46.4 45.1 45.35 1346700 61209260 ABOITIZ EQUITY ALLIANCE GLOBAL 5.65 5.69 5.5 5.69 5.49 5.69 10755900 59844481 1.64 1.66 1.62 1.66 1.62 1.66 105000 172360 AYALA LAND LOG ANSCOR 6.15 6.25 6.3 6.3 6.25 6.25 2400 15070 0.47 0.495 0.48 0.48 0.48 0.48 20000 9600 ANGLO PHIL HLDG ATN HLDG A 0.58 0.59 0.57 0.59 0.57 0.59 330000 191270 4.89 4.95 4.9 4.91 4.87 4.89 1563000 7643270 COSCO CAPITAL DMCI HLDG 3.65 3.66 3.49 3.65 3.49 3.65 2602000 9379040 8.21 8.5 8.5 8.59 8.5 8.5 5000 42914 FILINVEST DEV GT CAPITAL 409 417 416 424 409 409 75080 31104474 2.89 3.06 2.89 2.89 2.88 2.88 3000 8660 HOUSE OF INV JG SUMMIT 61.1 62 60.45 62.5 60.45 61.1 2250870 138396414 4.51 4.98 4.34 5.06 4.34 5.06 4000 18237 JOLLIVILLE HLDG LODESTAR 0.59 0.6 0.58 0.6 0.57 0.59 43000 25410 2.34 2.44 2.34 2.34 2.34 2.34 37000 86580 LOPEZ HLDG LT GROUP 7.35 7.38 7.32 7.41 7.29 7.35 1625900 11983300 0.455 0.5 0.475 0.5 0.43 0.5 134000 60810 MABUHAY HLDG METRO PAC INV 3.06 3.07 3.01 3.09 3.01 3.07 28928000 88777230 2.91 3.06 3.06 3.06 3.06 3.06 1000 3060 PACIFICA HLDG PRIME MEDIA 0.71 0.74 0.7 0.76 0.7 0.76 99000 69360 151 159 151 155 151 155 260 39780 SYNERGY GRID SM INVESTMENTS 865 872 850 873 847 865 464270 402531710 98.5 98.8 98 98.8 97 98.5 29960 2944162.5 SAN MIGUEL CORP TOP FRONTIER 122 124 122.1 124 122.1 124 4010 497221 0.145 0.15 0.142 0.15 0.142 0.15 500000 74600 ZEUS HLDG

-196000 -105653065 -33335500 -21807244 -435230 -1190200 -11242830 -84204296.5 18720 1441312 -26371020 148013580 -715891.5 -

PROPERTY ARTHALAND CORP 0.5 0.51 0.51 0.51 0.5 0.51 353000 177450 32 32.2 31 32.2 31 32.2 8605500 273677285 AYALA LAND BELLE CORP 1.34 1.35 1.34 1.35 1.33 1.34 41000 54800 0.77 0.78 0.75 0.82 0.75 0.78 8628000 6858410 A BROWN CITYLAND DEVT 0.75 0.78 0.78 0.78 0.78 0.78 1000 780 0.117 0.119 0.12 0.12 0.117 0.117 4160000 489830 CROWN EQUITIES CEBU HLDG 5.75 6.08 5.73 6.08 5.73 6.08 300 1756 4.98 5.04 4.9 5.05 4.9 5.04 621500 3119552 CEB LANDMASTERS CENTURY PROP 0.35 0.355 0.355 0.36 0.345 0.35 2250000 788750 15.98 16.1 15.96 16.14 15.96 16.1 179500 2873442 DOUBLEDRAGON DM WENCESLAO 5.99 6 5.92 6 5.92 6 275300 1651383 0.246 0.247 0.24 0.246 0.24 0.246 400000 97360 EMPIRE EAST EVER GOTESCO 0.095 0.099 0.092 0.1 0.092 0.1 250000 24920 0.83 0.85 0.84 0.86 0.83 0.83 16330000 13747730 FILINVEST LAND GLOBAL ESTATE 0.8 0.84 0.83 0.83 0.78 0.8 456000 361970 8.41 8.45 8.5 8.5 8.45 8.45 21100 178783 8990 HLDG PHIL INFRADEV 0.84 0.85 0.82 0.86 0.82 0.84 223000 186330 0.68 0.69 0.69 0.69 0.66 0.67 118000 79090 CITY AND LAND MEGAWORLD 2.94 2.99 2.9 2.99 2.9 2.99 23996000 70760970 0.217 0.218 0.209 0.221 0.207 0.217 31110000 6737700 MRC ALLIED PRIMEX CORP 1.31 1.36 1.4 1.4 1.31 1.31 121000 162000 14.16 14.3 14.4 14.7 14.06 14.16 2383700 34289346 ROBINSONS LAND ROCKWELL 1.51 1.55 1.5 1.51 1.5 1.51 63000 95090 2.59 2.69 2.7 2.7 2.59 2.59 30000 80230 SHANG PROP STA LUCIA LAND 1.72 1.85 1.84 1.85 1.84 1.85 5000 9210 28.45 28.6 28.2 29.1 28.2 28.45 14245400 409455575 SM PRIME HLDG VISTAMALLS 3.74 3.88 3.81 3.88 3.74 3.88 31000 116780 1.11 1.12 1.07 1.12 1.07 1.11 920000 1013030 SUNTRUST HOME VISTA LAND 2.92 3 2.91 3.03 2.91 2.92 4190000 12443780

1000 -7374000 -2670 -16000 -423032 -150603 -704160 -50780 13800 -34158500 -17600 7860 -21292846 -30200 194791260 -11100 422170

SERVICES ABS CBN 7.35 7.36 7.4 7.4 7.3 7.35 138000 1012094 5.05 5.06 5.06 5.13 5.03 5.06 718400 3641450 GMA NETWORK MANILA BULLETIN 0.385 0.39 0.385 0.385 0.375 0.385 490000 188450 11.42 11.86 11.3 11.3 11.3 11.3 1000 11300 MLA BRDCASTING GLOBE TELECOM 2070 2072 2054 2080 2028 2070 86565 178653090 1337 1339 1310 1345 1310 1337 286735 383537855 PLDT APOLLO GLOBAL 0.047 0.049 0.049 0.049 0.046 0.049 3140000 146800 2.8 2.89 2.7 3 2.7 2.9 42000 122410 DFNN INC DITO CME HLDG 2.68 2.69 2.54 2.69 2.51 2.68 17819000 46762860 1.27 1.37 1.42 1.42 1.39 1.4 21000 29430 IMPERIAL JACKSTONES 1.66 1.69 1.59 1.69 1.59 1.66 61000 101860 1.96 1.98 1.91 1.99 1.9 1.98 13544000 26372840 NOW CORP TRANSPACIFIC BR 0.17 0.171 0.171 0.174 0.167 0.17 970000 166980 1.86 1.87 1.83 1.87 1.83 1.86 517000 958210 PHILWEB 2GO GROUP 8.16 8.3 8.45 8.45 8.15 8.3 14900 122619 15.34 16.76 15.34 15.34 15.34 15.34 100 1534 ASIAN TERMINALS CHELSEA 3.26 3.29 3.25 3.3 3.25 3.26 177000 581310 35.3 35.5 35.1 35.5 35.1 35.3 126200 4475150 CEBU AIR INTL CONTAINER 95.5 96 94 96.95 94 95.5 1367910 130315568.5 13.82 14.46 14.2 14.46 13.82 14.44 3200 45570 LBC EXPRESS MACROASIA 5.09 5.1 4.9 5.14 4.81 5.1 2346000 11920540 1.8 1.83 1.82 1.9 1.7 1.83 1854000 3371280 METROALLIANCE A PAL HLDG 5.89 5.9 5.95 5.95 5.89 5.9 104200 615047 0.76 0.78 0.79 0.79 0.75 0.77 245000 189480 HARBOR STAR ACESITE HOTEL 1.16 1.26 1.28 1.28 1.15 1.15 51000 59040 0.036 0.037 0.032 0.038 0.032 0.037 347100000 12412100 BOULEVARD HLDG GRAND PLAZA 11.02 11.84 11.08 12.02 11 11.84 4800 54584 0.365 0.375 0.365 0.38 0.365 0.38 20000 7450 WATERFRONT CENTRO ESCOLAR 6.31 6.49 6.49 6.49 6.31 6.31 3100 19939 0.295 0.3 0.295 0.295 0.295 0.295 550000 162250 STI HLDG BERJAYA 2.11 2.18 2.12 2.18 2.11 2.18 15000 31880 6.1 6.12 6.06 6.19 6.01 6.12 6718100 40866361 BLOOMBERRY 1.96 2.05 2.05 2.08 1.95 2.08 23000 46800 PACIFIC ONLINE LEISURE AND RES 1.2 1.23 1.2 1.25 1.2 1.23 395000 484500 2.22 2.49 2.22 2.22 2.22 2.22 3000 6660 MANILA JOCKEY PH RESORTS GRP 2.12 2.18 2.2 2.2 2.1 2.18 10000 21700 0.285 0.29 0.29 0.295 0.285 0.285 5610000 1616500 PREMIUM LEISURE PHIL RACING 7.6 7.89 7.6 7.6 7.6 7.6 50000 380000 6.25 6.29 6.3 6.36 6.25 6.29 642700 4058196 ALLHOME METRO RETAIL 1.4 1.41 1.39 1.43 1.39 1.4 1353000 1894230 48.65 48.7 47.7 49 47.7 48.7 2733800 132655170 PUREGOLD ROBINSONS RTL 59.1 59.3 60 61.5 58.05 59.3 708740 41916252 125 126 125 127 125 125 56640 7080120 PHIL SEVEN CORP SSI GROUP 1.03 1.04 1.04 1.08 1.02 1.04 1352000 1411290 14.94 14.98 14.9 15.04 14.9 14.98 4342600 65088978 WILCON DEPOT APC GROUP 0.305 0.31 0.3 0.31 0.3 0.31 140000 42650 6.32 6.4 6.4 6.4 6.3 6.3 4600 29010 EASYCALL GOLDEN BRIA 280.8 299.8 280.4 303.6 280.4 299.8 220 65574 4.02 4.5 4.79 4.79 4.5 4.5 11000 49790 IPM HLDG PRMIERE HORIZON 0.211 0.212 0.21 0.211 0.208 0.211 1740000 365940 4.31 4.47 4.02 4.07 4.02 4.07 2000 8090 SBS PHIL CORP

-10401880 -251124145 155700 56130 37100 5069.9996 -141470 -2832680 -5824341.5 -11200 -1844860 5918 65570 -18500 321843 56280 -2400 1217102 33600 -73689045 -40152689 -20 -645940 1522208 -15154 -

MINING & OIL ATOK 7.7 8.16 8.19 8.19 7.7 8.16 500 3945 APEX MINING 1.61 1.62 1.5 1.64 1.48 1.61 21540000 34039590 1940160 0.0008 0.0009 0.0008 0.0008 0.0008 0.0008 80000000 64000 ABRA MINING ATLAS MINING 2.64 2.72 2.55 2.64 2.55 2.64 76000 195810 1.88 1.98 1.97 2 1.97 1.99 25000 49300 BENGUET A BENGUET B 1.88 1.97 1.97 1.97 1.8 1.97 73000 137710 0.191 0.207 0.2 0.209 0.19 0.209 190000 37040 COAL ASIA HLDG CENTURY PEAK 2.62 2.69 2.6 2.69 2.59 2.69 272000 720270 621300 7.5 7.55 7.43 7.55 7.36 7.55 30200 226990 DIZON MINES FERRONICKEL 1.1 1.11 1.1 1.12 1.09 1.1 8620000 9517930 -430680 0.232 0.235 0.237 0.237 0.229 0.232 80000 18520 GEOGRACE LEPANTO A 0.153 0.154 0.144 0.157 0.144 0.154 54000000 8168580 0.153 0.154 0.143 0.155 0.143 0.153 9370000 1422300 -103560 LEPANTO B MANILA MINING A 0.0099 0.01 0.0099 0.01 0.0099 0.01 69000000 688500 0.01 0.011 0.01 0.01 0.0095 0.01 19400000 193950 MANILA MINING B MARCVENTURES 0.82 0.83 0.81 0.84 0.8 0.82 2307000 1883250 1.51 1.52 1.42 1.55 1.4 1.51 1648000 2453010 -261900 NIHAO NICKEL ASIA 2.69 2.7 2.55 2.7 2.54 2.7 21176000 56109190 -7602710 0.38 0.39 0.38 0.39 0.38 0.39 400000 155500 OMICO CORP ORNTL PENINSULA 0.56 0.58 0.55 0.58 0.55 0.56 3086000 1752420 3.32 3.33 3.24 3.34 3.13 3.32 3057000 9919010 1008820 PX MINING SEMIRARA MINING 10 10.02 9.56 10.08 9.56 10 5312800 52996862 -42494138 0.0052 0.0053 0.0052 0.0052 0.0051 0.0052 4000000 20700 UNITED PARAGON ACE ENEXOR 5.86 6.16 6.06 6.16 5.82 6.16 31100 185984 0.008 0.0081 0.008 0.008 0.008 0.008 48000000 384000 ORNTL PETROL A ORNTL PETROL B 0.0081 0.0084 0.0082 0.0094 0.0082 0.0084 37000000 323600 0.0085 0.0087 0.0085 0.0087 0.008 0.0087 43000000 361800 PHILODRILL PXP ENERGY 5.32 5.37 5.42 5.43 5.3 5.32 740600 3960937 -43647

PREFFERED HOUSE PREF A 100.7 102.5 102.5 102.5 102.5 102.5 10 1025 508 519 509 509 509 509 50 25450 AC PREF B1 ALCO PREF B 100.6 104.1 101.3 104.5 100 104.3 52560 5319468 100.5 105 104.9 104.9 100.5 100.5 20000 2081052 ALCO PREF C AC PREF B2R 506.5 517 517 517 517 517 90 46530 100.7 101 101 101 101 101 100000 10100000 CPG PREF A DD PREF 101 101.4 101.4 101.4 101.4 101.4 150 15210 105.8 106 106 106 106 106 33230 3522380 FGEN PREF G GTCAP PREF B 1010 1020 1010 1010 1010 1010 19905 20104050 101.3 101.5 101.5 101.5 101.5 101.5 21050 2136575 MWIDE PREF PNX PREF 3B 106 108 108 108 108 108 100 10800 1035 1050 1045 1045 1045 1045 10 10450 PCOR PREF 2B PCOR PREF 3A 1045 1060 1045 1045 1045 1045 2000 2090000 78.2 78.5 78.5 78.5 78 78.2 8550 667436 SMC PREF 2C SMC PREF 2I 78.5 79 79 79 79 79 10 790

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 7.01 7.3 7.01 7.3 7.01 7.3 11700 82075 -80615 4.68 4.7 4.75 4.75 4.64 4.68 560000 2622820 -2425940 GMA HLDG PDR

WARRANTS LR WARRANT 0.62 0.65 0.61 0.68 0.55 0.63 383000 234930

SMALL & MEDIUM ENTERPRISES ALTUS PROP 13.1 13.16 13.02 13.2 12.8 13.1 341400 4448654 -98196 1.83 1.84 1.78 1.83 1.77 1.83 2185000 3956860 -885700 ITALPINAS KEPWEALTH 5.08 5.27 5.07 5.28 5.04 5.28 31400 161513 1.89 2.14 - - - - - - MAKATI FINANCE MERRYMART 2.7 2.71 2.47 2.73 2.47 2.71 36813000 96733080 612850 0.55 0.56 0.56 0.57 0.54 0.56 265000 147220 XURPAS

EXHANGE TRADE FUNDS

FIRST METRO ETF 88 88.5 88.6 89.5 88 88 23370 2077617 211364.5

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San Miguel beer, liquor units show signs of recovery–Ang

C

By VG Cabuag

@villygc

onglomerate San Miguel Corp. (SMC) said its beer and spirit units showed signs of recovery after the government eased lockdown restrictions which dented demand for their products.

San Miguel Brewery Inc. (SMB) said its income in the first half fell 62 percent to P5 billion, from last year’s P13.25 billion due to the drop in sales. Its revenues during the period ended at P42.8 billion, down 39 percent from last year’s P70.28 billion.

Ginebra San Miguel Inc., meanwhile, claimed that demand for its products jumped significantly as it recorded its highest volumes in June.

The company, however, did not provide more details.

“Demand for our beer and liquor products, remain strong, and if June and July are any indication, we’re seeing signs of a strong recovery in the second half of the year,” SMC President and Chief Operating Of-

ficer Ramon S. Ang said.

“We have been working steadily to adapt to the new normal, and adjust our operations where needed, to better serve the market during these challenging times. Despite the declaration of a new, two-week MECQ [modified enhanced community quarantine] by government, I believe we’re in a better position now to build on our gains for the rest of the year and beyond. The strong demand we’re seeing is also a big encouragement.”

SMC said the full impact of the lockdown was reflected on the first half performance of its beer business. Domestic operations volumes were lower than in the

same six-month period last year, due to the implementation of the enhanced community quarantine, liquor bans, the extended closure of beer selling outlets, as well as the imposition of higher excise taxes on beer products.

International operations also reflected the effect of the different levels of lockdown and restrictions in countries where SMB operates, particularly in Indonesia, Hong Kong, Vietnam. Its export markets, however, registered favorable results.

In the two months since the lockdown restrictions were eased, Ang said that both SMB and Ginebra worked not only to get their operations back up, but also to implement programs that will further strengthen each unit’s resilience.

These include maximizing operational efficiencies, introducing new ways to make products more easily accessible to consumers and the utilization of online platforms to promote products.

SMB said it implemented effective cost management and tighter business controls to sustain positive profit level and protect margins in the first semester.

Ginebra, meanwhile, started

trade replenishments in mid-May, and registered record volumes in June.

Ang said the liquor firm’s volumes were boosted by its strong brand equity that kept it in the minds of consumers and encouraged consumption; prompt replenishment of stocks in outlets, as well as the expansion to e-commerce channels.

“We’re optimistic about this second half, especially since our first half reflects the full impact of the pandemic and the more than twomonth quarantine. We look forward to executing on all the programs we’ve put in place, especially since it will boost not just our businesses, but also the many other small and medium enterprises in our supply chain, who are impacted by this pandemic,” he said.

“Another important thing for us is that our partners across so many provinces nationwide are back earning a livelihood. From bottle-collectors, to sari-sari stores, dealers, to haulers, among others. At this time when our economy is affected, we need to help as many of our countrymen as possible—while adhering strictly to safety guidelines on quarantines, nationwide.”

IDC income in H1 rises despite lockdowns

I

talpinas Development Corp.

(IDC), a boutique property developer of mostly green buildings, said its income in the first half rose by 43 percent to P35.2 million, from last year’s P24.47 million, as sales rose despite the lockdowns.

Net sales jumped 36 percent to P278.68 million in the January-toJune period from last year’s P204.79 million, the company said.

Net income in the second quarter alone rose 28 percent to P19.58 million, from last year's P15.21 million.

Net sales, meanwhile, grew by almost half to P144.22 million, from last year’s P97.24 million.

“The key factor behind this extraordinary performance despite the Covid-19 pandemic is the sustained positive market response to IDC’s new green projects, namely Miramonti in Sto. Tomas, Batangas and Primavera City phase 2 in Cagayan de Oro,” Romolo Nati, the company’s CEO, said.

Both projects are strategically situated to grow with the decongestion of overcrowded areas. Miramonti is a 45-minute drive from Makati, while Citta Bella Primavera City Phase 2 is in uptown Cagayan de Oro City, one of its fastest

growing areas in the country.

“The two projects are certified green buildings and they have been awarded the Best Mixed-Use Buildings in the Philippines award at the International Property Awards,” Nati said.

During the lockdown, he said people understood more than ever how important is to live in a comfortable and sustainable environment that can offer easy and direct access to open spaces, such a terraces and gardens, where unit owners can enjoy fresh air, exposure to natural sunlight and constant natural airflow.

“Being exposed to those natural elements can definitely help not only to provide a healthy and comfortable living style, but also to counteract spreading of virus, which is now known to spread more easily in environments where ventilation is poor.”

IDC President Jose D. Leviste III said the company is targetting alternative locations for the development of sustainable buildings, anticipating the trend of greater growth outside Metro Manila and Metro Cebu.

“Such locations offer many advantages, such as a lower cost of living, less traffic and less polluted environments. On top of that, we

‘PLDT, Smart provide fastest fixed, mobile Internet connections’

O

okla, a global internet testing and analysis firm, said PLDT Inc. and Smart Communications Inc. have the fastest fixed and mobile internet networks in the first half.

In two separate reports, Ookla reported that PLDT had top download speeds of 70.54 Mbps and top upload speeds of 85.38 Mbps, bringing its speed score to 24.79 points, while Smart posted a Speed Score of 18.33, with average download speeds of 15.94 Mbps and average upload speeds of 7.57 Mbps.

PLDT’s speed score was higher than that of Converge (21.53 points), Sky (15.56 points), and Globe (9.17 points), while Smart’s speed score was also better than the 12.35 points accumulated by Globe.

“Over half a billion users rely on Speedtest to measure their internet performance every year. Ookla analyzes these test results to get an unparalleled view into mobile and fixed broadband metrics around the world,” Ookla CEO Doug Suttles said.

“It is our pleasure to recognize Smart as the Fastest Mobile Network and PLDT as the Fastest Fixed Network in the Philippines based on our rigorous analysis. These awards are a testament to PLDT and Smart’s exceptional performance, as experienced by their own customers, in the first quarter and second quarter.”

PLDT-Smart SVP Mario G. Tamayo noted that the Ookla awards reflect that its sustained investments in network infrastructure over the past five years are bearing fruit.

“As a result, we have been able to ensure that our customers have the best data experience, even amid the pandemic,” he said.

“We have achieved this by continuing our network expansion program, particularly by steadily extending the reach and increasing capacity of our 4G/LTE network. We’ve done this by combining the roll out of our physical installations with software systems upgrades that can be done remotely.” Lorenz S. Marasigan

see that the market is more and more discerning about what it means to be truly ‘green.’ We respond with

mutual funds

innovation and sustainability which is accessible in terms of price,” Leviste said. VG Cabuag

August 4, 2020

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 188.75 -29.8% -11.57% -6.75% -25.05% ATRAM Alpha Opportunity Fund, Inc. -a 0.9953 -39.62% -14.56% -6.93% -27.98% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.5278 -39.38% -16.28% -9.36% -31.28% Climbs Share Capital Equity Investment Fund Corp. -a 0.6509 -32.83% -13.54% n.a.

-27.52% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6453 -27.68% n.a. n.a. -24.02% First Metro Save and Learn Equity Fund,Inc. -a 4.0572 -27.02% -10.28% -6.43% -23.86% First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.6347 -29% -12.95% n.a.

-25.64% MBG Equity Investment Fund, Inc. -a 76.06 -37.02% n.a. n.a.

-26.31% PAMI Equity Index Fund, Inc. -a 37.7177 -29.3% -10.23% -5.81% -26.45% Philam Strategic Growth Fund, Inc. -a 407.86 -26.8% -9.32% -5.81% -23.45% Philequity Alpha One Fund, Inc. -a,d,5 0.831 n.a. n.a. n.a.

-19.33% Philequity Dividend Yield Fund, Inc. -a 0.965 -28.65% -9.68% -5.47% -25.01% Philequity Fund, Inc. -a 28.2965 -28.61% -9.32% -5.24% -25.33% Philequity MSCI Philippine Index Fund, Inc. -a 0.7455 -29.98% n.a. n.a. -26.78% Philequity PSE Index Fund Inc. -a 3.8376 -29.13% -9.76% -5.17% -26.53% Philippine Stock Index Fund Corp. -a 643.2 -28.87% -9.69% -5.33% -26.24% Soldivo Strategic Growth Fund, Inc. -a 0.5823 -38.67% -13.62% -9.27% -31.61% Sun Life Prosperity Philippine Equity Fund, Inc. -a 2.9825 -32.8% -11.09% -6.44% -29.14% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.7372 -29.03% -9.89% -5.32% -26.34% United Fund, Inc. -a 2.7211 -28.56% -8.43% -4.64% -25.51% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 86.3414 -28.69% -9.23% -4.53% -26.17% Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b $1.0348 6.68% -0.08% 1.45% 0.62% Sun Life Prosperity World Voyager Fund, Inc. -a $1.4652 11.35% 7.28% n.a.

6.27% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.5494 -12.17% -4.42% -3.81% -0.86% ATRAM Philippine Balanced Fund, Inc. -a 2.0106 -14.63% -5.29% -2.56% -7.82% First Metro Save and Learn Balanced Fund Inc. -a 2.3482 -12.99% -4% -3.74% -10.77% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1801 n.a. n.a. n.a.

-21.18% NCM Mutual Fund of the Phils., Inc. -a 1.8036 -8.37% -1.81% -0.86% -8.05% PAMI Horizon Fund, Inc. -a 3.4061 -11.13% -3.06% -2.1% -10.11% Philam Fund, Inc. -a 15.1826 -11.82% -3.36% -2.26% -10.48% Solidaritas Fund, Inc. -a 1.868 -14.31% -4.54% -2.22% -11.97% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.179 -19.76% -5.72% -3.57% -17.72% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9173 -11.56% n.a. n.a.

-9.69% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.807 -21.87% n.a. n.a.

-19.01% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.7802 -24.22% n.a. n.a.

-21.45% Sun Life Prosperity Dynamic Fund, Inc. -a 0.7789 -23.2% -6.89% -4.84% -20.1% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03959 5.46% 3.36% 2.2% 3.64% 3.74% PAMI Asia Balanced Fund, Inc. -b $1.0339 0.8% 1.94% 2.16% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.0577 7% 5.2% 4.36% 3.76% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.1546 4.1% 2.88% n.a.

2.29% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 367.33 4.34% 3.17% 2.57% 2.62% ATRAM Corporate Bond Fund, Inc. -a

1.9465 2.08% 1.1% -0.07% 2.34% Cocolife Fixed Income Fund, Inc. -a 3.1979 4.6% 5.02% 5.08% 2.57% Ekklesia Mutual Fund Inc. -a 2.3051 4.64% 3.04% 2.35% 3.67% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4481 4.89% 3.46% 1.95% 3.77% Philam Bond Fund, Inc. -a 9.63% 4.58% 2.77% 6.75% 4.6679 Philam Managed Income Fund, Inc. -a,6 1.3044 6.15% 4.24% 2.36% 3.8% Philequity Peso Bond Fund, Inc. -a 3.957 6.65% 4.41% 2.33% 4.46% Soldivo Bond Fund, Inc. -a 1.0388 9.66% 3.81% 1.89% 7.73% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1771 5.76% 4.85% 2.85% 3.3% Sun Life Prosperity GS Fund, Inc. -a

1.7459 4.77% 4.25% 2.33% 2.63% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $478.03 3.85% 2.6% 2.8% 2.06% ALFM Euro Bond Fund, Inc. -a Є216.6 -1.13% 0.68% 1.04% -1.45% 2.79% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2429 4.59% 3.3% 2.96% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0265 3.52% 2.1% 1.66% 2.71% PAMI Global Bond Fund, Inc -b $1.0936 0.51% 0.47% 0.53% 0% Philam Dollar Bond Fund, Inc. -a

$2.5118 6.64% 3.98% 3.49% 4.51% Philequity Dollar Income Fund Inc. -a $0.0610647 2.71% 2.16% 1.92% 1.27% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.25 5.04% 2.51% 2.75% 2.36% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 128.62 3.64% 3.27% 2.48% 2.22% First Metro Save and Learn Money Market Fund, Inc. -a 1.0434 2.54% n.a. n.a.

1.67% Sun Life Prosperity Money Market Fund, Inc. -a 1.286 2.95% 3.03% 2.59% 1.66% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0466 1.61% n.a. n.a.

0.8% Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 0.9992 n.a. n.a. n.a. n.a.

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

-5.05%

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

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

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

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

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

pifa.com.ph to see the latest NAVPS/NAVPU."

www.businessmirror.com.ph

Entrepreneur BusinessMirror

Editor: Vittorio V. Vitug • Wednesday, August 5, 2020 B3

Govt unveils programs to help entreps gain entry to foreign markets, survive pandemic 4 out of 10 Asian biz adapt ‘wait and see’ outlook amid contagion

By Roderick L. Abad

F

@rodrik_28

our out of 10 businesses across Southeast Asia have adapted a “wait and see” outlook before they take the next step to level up their competencies in a postpandemic world, a study has confirmed.

“The Covid-19 pandemic has resulted in the world economy going through a period of ‘reset’ for the ‘rebound.’ The race for competiveness has already started again, and countries that sprint forward now will leave others trailing behind,” said Rachel Barger, president and managing director, SAP South East Asia.

The top executive reminded companies that are complacent with such attitude amid today’s “digitally disruptive” world compounded by the pandemic would be left behind and may even become irrelevant.

“As businesses recalibrate their strategies for the longterm, it is crucial to shift away from an expectation to revert to normalcy as before. In a new reality, intelligent enterprises can ‘do more with less,’ deliver best-in-class customer experience, build resilient supply chains, while inventing new business models and revenue streams,” she noted.

Unveiled during the recent inaugural of SAP Forward Together virtual event, the report showed that 63 percent of 4,500 Southeast Asian business leaders surveyed have already witnessed changes in the buying behavior and motivations of customers since the beginning of 2020, although 21 percent of businesses are unsure, or simply lack the insight on changes on their clients’ needs.

Amid this shift, organizations continue to move conservatively with their digitalization efforts—many of them embracing a protective stance with the thinking that disruption from the unprecedented health emergency will pass in due course.

While businesses have transformed their operations toward e-commerce and online selling, smaller enterprises still worry about implementation costs of digital platforms and juggling operations to meet the sudden influx of demand.

In fact, only a fifth, or around 20 percent of entities, foresee a need to adapt their customer experience strategies to meet evolving expectations and requirements of customers across platforms.

Supply chain and operations are, likewise, other aspects that businesses are keeping tab on, with 22 percent of them expecting vital change in the future.

More than 80 percent of the survey participants expect significant/massive impact to change their business model, or operations, with just one percent projecting “businessas-usual” in the long run.

Regional business leaders, per the SAP research, are adjusting organizational priorities with a focus on business transformation (21 percent), enhancing customer engagement (15 percent), making business processes more efficient (14 percent), ensuring business continuity (12 percent), and supply chain resilience and redefinition (9 percent).

“Traditional practices never changed, primarily because they served their purpose. And it took a pandemic like Covid-19 for businesses to rethink how to transform those practices to digital engagements. Fortunately, advancements in technology have allowed industries to adapt to new ways of working and learning, “ PLDT Vice President and Head of Enterprise Digital Solutions John Gonzales said during the online event.

To support business continuity amid tough times, SAP has opened up access to SAP Ariba Discovery, the world’s largest business network until December 31 so any buyer can post their immediate sourcing needs and any supplier can respond to show they can deliver.

Free access to Qualtrics Remote Work Pulse has also enabled organizations understand how their employees are doing and what support they need as they adapt to new work environments.

The SAP Value Lifecycle Manager, an industry benchmark tool, is also made available to support businesses to measure, monitor and optimize value across their enterprise, while the SAP Experience Center Singapore provides an innovative space for businesses to deep dive into the latest technologies like AI, Big Data and data intelligence on the cloud to develop solutions tailored to the organization’s unique challenges.

“At SAP, we have the expertise to support enterprises in 25 industries where we have empowered various customers to confront many challenges. Our mission at SAP is to help Filipino businesses run better and improve the lives of Filipinos. With SAP opening access to complimentary solutions to help companies during this unprecedented time, we believe we can help support in the recovery,” said SAP Philippines Managing Director Edler Panlilio.

M

icro, small and medium enterprises (MSME) entrepreneurs aiming to penetrate the overseas markets, or surviving the contagion, can avail of government programs to reskill and upskill themselves.

Philippine Trade Training Center (PTTC) Executive Director Nelly Nita Dillera said the center’s Advancement of Skills and Competencies of Entrepreneurs towards Internationalization Agenda (ASCEND) program is a comprehensive approach to reskill and upskill, especially in this time of pandemic.

“According to the Asian Trade Center, Philippine products are still among the countries that cannot easily be searched, that cannot receive e-payments nor have we optimized the use of technology, the tools and applications, the enablers,” she said during an e-forum of National

MSME Week 2020.

As the country was fast-forwarded to the digital age, Dillera said it is therefore timely that technology takes on a greater prominence in PTTC programs.

She said the PTTC’s ASCEND program, a whole of Department of Trade and Industry (DTI) approach, comprises stakeholder consultation, module alignments, shifting to elearning modality, and learning management.

“We do consultation with industry stakeholders, it is important to hear the needs of MSMEs in the international market, the trends and all that. [We have]

one module that fits all. We look at the market requirements and we try to redesign, or make our modules be relevant and responsive to these requirements and we also are now shifting to elearning modality. And of course learning management because after all, what we wanted those attending the training... as much as possible is to see what the positive impacts [on their businesses],” she added.

Dillera said the PTTC has launched 137 e-learning modules, including selfhelp modules. “We have [also] entrepreneurial development, digitalizing business back office operations. Gone are the days na papel-papel lang ginagamit natin [we used papers]. As much as possible, use apps, softwares that are available because it will make our work more productive, more efficient and more effective. We have digital productivity tools, export made easy, and of course good manufacturing practices,” she said.

Dillera said they target teaching the MSMEs to use online training programs, and at the same time, utilize different applications or software that are available.

Apart from training courses, Dillera said the center also provides training services and facilities, such as regional food champions, digifab, Food Connect and trend hub. “So the regional food champions, we will launch this, we will be helping all our food processors elevate the taste profile of their food,” she said, adding the digifab facilities are equipped to deliver high quality fabrication services.

The Food Connect, on the other hand, is designed for entrepreneurs intending to secure registration and other international certifications to penetrate the mainstream market, she said.

Dillera said the PTTC has also partnerships with Asean SME Academy, International Trade Centre SME Trade Academy, and International Chamber of Commerce Academy in providing elearning modules and courses.

“So hindi natin iiwan ’yung nag-eexport ngayon [we would not leave exporters now]. Now is the time to also re-skill and upskill. Just log on to our web site, you can find the links,” she added.

Plastic Credit Exchange launches ‘Aling Tindera’ waste-to-cash program with the City of Manila

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N a move to address the mounting plastic waste crisis, the Plastic Credit Exchange (PCEx), the country’s first homegrown global non-profit plastic offset organization, together with the City of Manila, and with the support of the PepsiCo Foundation recently introduced the “Aling Tindera” Waste-toCash program.

Along with their teams, PCEx founder Nanette Medved-Po and Manila Mayor Isko Moreno Domagoso signed a memorandum of agreement to roll out 100 network partners over three years covering all of the city’s 897 barangays.

Under the Aling Tindera program, PCEx incentivizes women-owned sarisari stores to become collection points for post-consumer plastic waste and establishes the community infrastructure for the aggregating, storing, and efficient transport of the waste to partner processing facilities. Among the many benefits of this project are: increased income opportunities for women micro-entrepreneurs and city residents; a more organized informal sector of waste collectors; cleaner environments and improved health.

“We couldn’t be happier to work with the mayor and his team who have passionately demonstrated their commitment to the improvement of Manila.

We hope that our program will have a positive impact on the city’s citizens and on the environment that we all share,” Medved-Po said.

Speaking at the signing, Mayor Isko Domagoso said he chose to partner with PCEx because the Aling Tindera

Manila Mayor Isko Moreno Domagoso and Plastic Credit Exchange founder Nanette Medved-Po pose for a souvenir shot following the signing event of a memorandum agreement for the formal launch of the Aling Tindera program.

Program is “applicable, doable, and sustainable” and “malaking bagay ito for the environment.”

“We are very grateful to [PCEx] as it will also generate some income for the community” and encourage “more sensible and responsible citizens to participate.”

PepsiCo Corporate Affairs Head for the Philippines and Asia, Anne Marie Corominas emphasized: “PepsiCo realizes no single organization, or industry, can solve the plastic waste challenge on their own. That is why we’re working with PCEx and communities in Manila through the Aling Tindera program to accelerate systemic change and meaningful progress through collaborative,

holistic and sustainable solutions in the Philippines.”

This initiative forms part of PCEx’s broader plastic offset mechanism inspired by the carbon offset industry.

Plastic offsetting enables businesses to take action in stopping plastic waste from polluting our waterways and ending up in nature.

Turning waste into cash

Aling Tinderas’ are women sari-sari store owners invited by the City of Manila to partake in this initiative. To jumpstart their new micro-enterprise, PCEx will provide each one with a purposefully designed 20-foot container, one manual baler donated by the PepsiCo Foundation,

and starting capital.

The journey from waste to cash begins in Aling Tindera’s neighborhood, where residual plastic has little to no value and ends up contaminating nature.

In response to this challenge, the Aling Tindera container will serve as an aggregation hub where any member of the community may sell post-consumer plastic by the kilogram. Simple bystanders become empowered not only to depollute their environment, but make extra income.

Using the manual baler, Aling Tindera compacts the plastics she buys into blocks that are easier to store and transport.

Once she fills up her container, offset partners through PCEx purchase the lot from her and ensure they are processed using environmentally sound technologies.

Transparency matters

IN serving businesses who desire to have a real, sustainable impact on ending plastic waste, PCEx commits to transparency to the public and its clients. Together with SGV & Co.’s Climate Change and Sustainability Services practice, PCEx will perform compliance audits for both plastic footprint as well as the entire value chain of offset operations, including the Aling Tindera plastic collection model.

“We hope to expand our network of professional services firms and work with them to refine standards for verification to make sure that we are doing our part to make sure that no plastic winds up in nature,” said Medved-Po.

Canva joins DBI’s BounceBack to build PHL’s digital human capital backbone

T

o help the Philippines bounce back from the pandemic, Canva Philippines joins the Digital Bayanihan Initiative (DBI) of the BounceBack Global Movement that aims to train 10 million entrepreneurs, educators, and leaders in government and private sector.

The DBI will build the Philippines’s Digital Human Capital Backbone by enabling Filipinos to acquire worldclass validated digital competencies that will empower them to become resilient and bounce back better than ever from the crisis.

“We welcome the partnership with the BounceBack movement as both our organizations aspire to help Philippine leaders, entrepreneurs, and educators to thrive within and after the pandemic,” Yani Hornilla-Donato, Canva Philippines country manager said. “Canva shares the goal of the Digital Bayanihan Initiative to empower Filipinos and it

aligns with our core belief that being a force for good, we are actively working towards a world that isn’t just good for a small few, but one that is good for everyone.”

“We thank Canva Philippines for signing up as the Official Creative Platform Partner of the BounceBack Global Nation, as well as the first Institutional Partner of the Digital Bayanihan Initiative,” said Jason De la Rosa, BounceBack Founder. “As our Creative Platform Partner, Canva will help our team with all of our strategic creative requirements across all of our digital platforms.”

BounceBack will integrate the courses in Canva’s Design School to strengthen the creative competencies of BounceBack Academy’s certification programs such as the Certified Digital Entrepreneur, Certified Digital Educator, etc. Canva and BounceBack will be launching a Canva Certified Digital Cre-

ative certification program that aims to ensure that the quality of digital professionals are anchored and validated on world-class creative competencies.

“We’re stoked that Canva has joined us to drive the digital creativity of our entrepreneurial community through their world-class design platform,” added Sam Jacoba, BounceBack cofounder and DBI Lead. “Filipinos are very creative and with Canva’s guidance, entrepreneurs, educators, and leaders in government and private sector will exponentially drive the full digital transformation of institutions in the country.”

“Digital design is one of the most sought-after skills in the world today,” said Donato. “Infused with the holistic competency framework of BounceBack, the design discipline that participants will acquire from Canva’s Design School will allow them to produce an extensive portfolio of work that will

help them succeed in their respective organizations.”

As institutions move toward the new online normal, digital creatives will be one of the key building blocks of their digital work force.

“There are a lot of free webinars now, but there are only a few that offer independent and transparent confirmation on the efficacy of the training content,” Jacoba explained. “With the Canva-BounceBack partnership, Filipino digital leaders, entrepreneurs and educators now have access to world class digital creative training and certification content.”

For partnership inquiries on the BounceBack Digital Bayanihan Initiative and the BounceBack Canva Certified Digital Creative, send e-mail to partners@bounceback.ph. For inquiries on BounceBack Academy’s Digital Certification programs, send e-mail to academy@bounceback.ph.

B4

Show BusinessMirror

Wednesday, August 5, 2020

www.businessmirror.com.ph

Today’s Horoscope

By Eugenia Last

z

CELEBRITIES BORN ON THIS DAY: Lolo Jones, 38; Jesse Williams, 39; Jonathan Silverman, 54; Maureen McCormick, 64.

Happy Birthday: You may not like the changes that take place this year, but as time passes, you will discover you can save money and, as a result, find peace of mind and a chance to live a simpler lifestyle.

Restrictions can build strength of character and make you realize what’s truly important to you. Put your health and personal pleasures first. Your numbers are 6, 13, 23, 29, 32, 35, 49.

THE BIG SWITCH

SO this very popular love team wants to switch networks for obvious reasons. But first, they have long list of demands, which come to think of it are quite reasonable. One of these demands is that they never be in a network-created love triangle. They’re OK with working separately and to be paired with other stars.

They do not want to be in love triangles that can be used for publicity purposes and which can eventually lead to fan wars. Two other stars from said network also want to transfer. They are two young female stars who are quite big in social media. The network is not keen on any other stars from the other network.

They just want these four. So will the transfers ever take place? Eventually, yes—but for now, there are no tapings and shoots and there is no urgency.

UNFAITHFUL GIRL?

SO there is a rumor going around that a married actor and a girl with a longtime boyfriend secretly had an affair when they did a project together years ago. The project, ironically, also featured the girl’s boyfriend. The affair supposedly lasted a couple of years and like her boyfriend, the actor was very generous to the girl. The girl, lovely as she is, has no manners and etiquette. She blatantly uses her connections to acquire certain things even when she can afford these. She even obliged the actor, not her boyfriend, to treat and shop for her family and friends, all of whom are mooching experts. Everybody feels sorry for the boyfriend because he really is a nice guy, but we guess that is the problem with having such a beautiful girlfriend.

WISHFUL THINKING

WHEN her beautiful daughter was involved with rich politician’s son, the actress kept making trouble via her social-media posts. That’s because she wanted the rich boy to marry her daughter, who has since moved on and is happier with her life now.

She and the rich boy are cordial. Even now that the daughter has a new partner, the actress still secretly hopes that she will end up with the rich boy. She has been sneaking in posts to that effect on her social media, at a time when all parties are quiet and peaceful. She doesn’t even care that the rich man’s son is known to be irresponsible. She has this mentality that she gave birth to a beautiful daughter so she must marry into money.

FRENEMIES

IF you think the two celebrities that formed this famous loveteam are now at least civil when they see each other, you are very wrong. The guy apparently hates the girl because for him, she ruined everything.

He does not care to hide his disdain for her, conveniently forgetting that he and his management were the ones who wanted the loveteam discarded as he thought he was big enough to go solo. He had one successful project but he had to accept peanuts for it.

How little? He was paid way less than he would have been paid for an endorsement when he and the girl were still a loveteam. So, yes, he still hates her. The girl, meanwhile, doesn’t care. She is happy, rich and doesn’t have a mountain of debt to pay off.

a

ARIES (March 21-April 19): Keep busy, live up to your promises and don’t stop until you have taken care of your responsibilities. Let your actions speak for you, and you will gain respect and the assistance you need to reach your target. HHH

b

TAURUS (April 20-May 20): Don’t fight the inevitable. Size up what you will have to do, and formulate a strategy that will ensure your success. Your actions will have the most significant impact. Stubbornness will work against you. HHHH

c Actress-singer Madonna arrives for a news conference about the musical film Evita with British director Alan Parker in Buenos Aires on February 6, 1996. AP

Alan Parker, director of ‘Midnight Express,’ dies at 76

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By Jill Lawless The Associated Press

ONDON—Alan Parker, a successful and sometimes surprising filmmaker whose diverse output, includes Bugsy Malone, Midnight Express and Evita, has died at 76, his family said.

A Briton who became a Hollywood heavyweight, Parker also directed Fame, The Commitments and Mississippi Burning. Together his movies won 10 Academy Awards and 19 British Academy Film Awards. The director’s family said he died on Friday, July 31, in London after a long illness.

Parker was born in London on February 14, 1944, and, like many other aspiring British directors of his generation, including Ridley Scott and Adrian Lyne, began his career in advertising as a copywriter and director of commercials.

He moved into television with critically acclaimed 1974 drama The Evacuees, which won an international Emmy Award.

The next year he wrote and directed his first feature, Bugsy Malone, an unusual, exuberant musical pastiche of gangster films with a cast of children, including a young Jodie Foster.

He followed that with 1978 feature Midnight Express, the reality-based story of an American’s harrowing incarceration in a Turkish prison for alleged drug offenses. It won two Oscars—including one for Oliver Stone’s script—and gained Parker the first of two bestdirector nominations. Parker ranged widely across subjects and genres. While Shoot the Moon (1982) and Angela’s Ashes (1999) were family dramas, Birdy (1984) was a tale of war and friendship, Angel Heart (1987) an occult thriller and Mississippi Burning (1988) a powerful civil rights drama that was nominated for seven Academy Awards, including best director.

Parker was also a notable director of musicals, a genre he both embraced and expanded. Fame

(1980) was a gritty but celebratory story of life at a performing arts high school; Pink Floyd—the Wall (1982) was a surreal rock opera; The Commitments (1991) charted the ups and downs of a ramshackle Dublin soul band; and Evita (1996) cast Madonna as Argentine first lady Eva Peron in a big-screen version of Andrew Lloyd Webber’s musical.His final film was death-row drama The Life of David Gale in 2003.

Parker also championed Britain’s film industry, serving as chairman of the British Film Institute and the UK Film Council. He was knighted by Queen Elizabeth II in 2002, and in 2013 received the British film academy’s highest honor, the BAFTA Fellowship.

The Academy of Motion Picture Arts and Sciences tweeted: “From Fame to Midnight Express, two-time Oscar nominee Alan Parker was a chameleon. His work entertained us, connected us, and gave us such a strong sense of time and place. An extraordinary talent, he will be greatly missed.”

Rocketman director Dexter Fletcher said Parker “inadvertently changed my life at the age of 9” by casting Fletcher as Babyface in Bugsy Malone. He said he still gets recognized from the film, 45 years later.

Fletcher said Parker “was one of the great, diverse, eclectic and original British filmmakers of his generation and my personal directing hero.”

Fellow British filmmaker David Puttnam said Parker “was my oldest and closest friend—I was always in awe of his talent. My life, and those of many others who loved and respected him, will never be the same again.”

Barbara Broccoli, producer of the James Bond films, said Parker’s films “exhibited the elements of his personality that we so cherished; integrity, humanity, humor and irreverence and rebellion, and most certainly entertainment.”

Parker, she said, “never made the same film twice.”

Parker is survived by his wife Lisa Moran-Parker, children Lucy, Alexander, Jake, Nathan and Henry, and seven grandchildren. n

GEMINI (May 21-June 20): Keep an open mind and a sharp eye on what transpires. Don’t let distancing shove you out of the loop. Stay in touch with your associates and on top of what’s going on within the industry you work. HH

d

CANCER (June 21-July 22): Take the edge off by doing something that pleases you. Anger won’t help you get your way, but channeling your energy into doing the best job possible will bring good results. Choose your battles and associates wisely. HHHHH

e

LEO (July 23-Aug. 22): Touch base with past associates or peers through social media, and the information you receive will help you make a progressive move. Put your energy into using your skills diversely and achieving your goals. Personal improvement will pay off. HHH

f

VIRGO (Aug. 23-Sept. 22): Assess how you feel and what you want to happen, and you will gain insight into what you need to do to reach your objective. Research rules and regulations that you’ll need to abide by to proceed. HHH

g

LIBRA (Sept. 23-Oct. 22): Patience will be required when dealing with seniors or youngsters. Find a way to keep others occupied and out of your way. Anger and frustration will stand between you and what you plan to accomplish.

Self-improvement will motivate you. HHH

h

SCORPIO (Oct. 23-Nov. 21): Stick to your game plan. Don’t let what others do influence how you go about your business.

A positive change at home will bring you peace of mind and encourage you to hone a skill that will help you get ahead. HHHHH

i

SAGITTARIUS (Nov. 22-Dec. 21): Don’t let outsiders interfere in your business. Handle your investments, documents and contracts yourself. Someone will take advantage of you if given a chance. Honesty will be vital to maintaining good connections with those you love. HH

j

CAPRICORN (Dec. 22-Jan. 19): You’ll encounter competition if you try to start something new. Look at what you are up against, make adjustments and rethink your strategy before moving forward. A change at home won’t please everyone.

Joint ventures will fall short. HHHH

k

AQUARIUS (Jan. 20-Feb. 18): Do something to boost your morale. Physical activity will motivate you to make changes to the way you look. Make fitness, proper diet, health and emotional well-being your priorities. Honesty will play a role when dealing with relationship issues. HHH

l

PISCES (Feb. 19-March 20): Don’t believe everything you hear. Reach out to an organization you believe in, and do your part to make a difference. Someone from your past will have an impact on the changes you make. Think twice before you make a move. HHH Birthday Baby: You are changeable, innovative and persuasive.

You are ambitious and protective.

‘when in rome’ by matt skoczen The Universal Crossword/Edited by David Steinberg

ACROSS 1 Parts of a “war” on eBay 5 ASU locale 10 Flow from Mount Vesuvius 14 Move slowly (along) 15 Classic 1979 film with an extraterrestrial villain 16 Big day preceders 17 Formerly 18 40 warm garments?

20 Hits from the 1950s, e.g.

22 Cuban drum 23 Extra charge for bills?

25 British sausage 26 Tai ___ 27 400 legal matters?

31 Times Square Ball Drop hrs.

32 Large opening?

34 With money at stake 36 Vintage item website 37 Themed musical work 38 Not in favor of 42 Like many modern returns 44 Aligns 45 Rotating tooth

8 4 faucet problems?

4 50 One has its ways 51 Lavishly decorated 53 Bistro 55 Tennis star Osaka 56 Us genre 58 1,100 fancy homes?

61 Current mania 64 Pub choices 65 Dwarf planet since 2006 66 Word with “dunk” or “dance” 67 Scottish loch with the greatest volume 68 Steph Curry’s Ohio birthplace 69 Capital of Norway DOWN 1 Subj. where you learn about DNA 2 Place to stay the night 3 600 funny strips?

4 Top-___ (of the highest quality) 5 Got ready to take off 6 She, in Paris 7 ___ Manners 8 Congregant’s seat 9 Little Rock-to-Memphis dir.

0 Reveal 1 11 Get even for 12 Borders (on) 13 Classify 19 Demean 21 1930s architecture style 23 Pinnacle 24 (What I’m pointing at) 25 Spanish or French newborn 28 Was able to 29 Emotion to manage 30 Yemeni’s northern neighbor 33 Manhattan spirit, traditionally 35 Highway covering 37 Supreme Court majority 39 The starred answers’ starts are Roman ones 40 Run like lightning 41 Road trip game 43 Have a place 44 Bygone Russian bigwig 45 Certain scammer 46 Seer 47 Lawn ornaments 49 Partner of place and thing

52 Stockpile 54 Organ section?

56 Happy ___ (bar event) 57 Wise about 59 Place to rejuvenate 60 Type 62 Gadot of Wonder Woman 1984 63 Fall Out Boy genre Solution to yesterday’s puzzle:

Image BusinessMirror

www.businessmirror.com.ph

Singapore Airlines launches campaign to thank essential workers Singapore Airlines (SIA) recently launched “Miles of Good,” a corporate social responsibility campaign under its #SIAcares initiative.

This campaign aims to raise 100 million KrisFlyer miles that will be donated to selected frontline and essential workers, who have been tirelessly serving the public during the Covid-19 pandemic.

KrisFlyer members will now be able to nominate deserving individuals with a minimum donation of 1,000 miles. The members and their nominees must reside in the same country or territory.

Eligible nominees include health-care workers, public transport workers, supermarket employees, cleaners, as well as food delivery, courier and postal services personnel. Members can also donate their miles without making any nomination.

KrisFlyer members may submit their nominations and donate their miles via the Miles of Good campaign landing page on www. singaporeair.com.

Singapore Airlines hopes to raise 70 million KrisFlyer miles through these donations and will contribute another 30 million miles toward Miles of Good. Nominations end on August 10, although members have up to November 20 to donate their miles. Eligible nominees will be contacted by SIA. They will need to submit their details, provide their KrisFlyer membership number and share their personal story via an online form on the landing page.

Singapore Airlines will then get in touch with the successful nominees, who will receive up to 60,000 KrisFlyer miles credited into their accounts. These miles can be used to book flights on Singapore Airlines, SilkAir, Scoot or on other KrisFlyer partner airlines.

They can also be used to redeem gift items, hotel stays, car rentals, or shopping, dining, wellness and grooming services via KrisShop, KrisFlyer vRooms, and KrisPay, the latter in Singapore only.

JoAnn Tan, Acting Senior Vice President for Marketing Planning for Singapore Airlines, said: “The Miles Of Good campaign is an opportunity for us to join hands with our KrisFlyer members, and show our appreciation to the individuals who have been working on the frontlines during the Covid-19 pandemic. This is one way in which we can recognize the efforts of those who have been helping all of us through this challenging time.”

Wednesday, August 5, 2020

A paw to hold W

E have around 12 to 15 cats outside the house at any given time, five old cats inside the house, and two dogs who go in and out of the house whenever they want. Living with them can sometimes be challenging, especially during the rainy season when we have to set up temporary shelters so they do not get wet, or when nursing them after a trip from the veterinarian, or even cleaning up every morning. But for all the inconvenience of taking care of them, they have proven to be significant parts of our lives.

One of the benefits of having a pet is the companionship they provide. Of course this means you get a pet who matches your personality. Different pets have different temperaments and activity levels, so choose one which complements your lifestyle. We have cats and dogs but you can opt to get a fish, a bird, or even a reptile. It all depends on the amount of time you are willing to spend in taking care of them. But you have to do a little research on the kind of pet you want and what they need, so you can make informed decisions on what pet to get and you can properly prepare for them.

And when you do get a pet, remember that they will always have their own personality. It is not true that a dog will always be friendly, nor a cat will always be aloof and distant. We have a cat with broken hind legs who wants to be petted and rubbed all the time, but he can become so territorial against visiting cats and fight them off even if he is disabled. We have another one who follows me everywhere when I am outside the house, and has the nasty habit of crossing between my legs when I am walking. And another one who does not want to be touched at all, but after a few months has learned to enjoy being petted. The more time you spend with your pet, the more you discover their charm and idiosyncrasies.

Which brings me to another advantage of having pets. They can offer stress relief especially after having a rough day. One of the best parts of getting home after work are the faces of my dogs who could not contain themselves and wag their tails and jockey to be petted. By then, you would have forgotten the woes of the day and you get to spend a few minutes just taking in the unconditional love from your pets.

This in turn helps calm you down and might even lower your blood pressure. I guess it is the feeling of being wanted by our pets which gives us a feeling of contentment and happiness. It is no surprise that during the quarantine period, people adopted pets from shelters so they can have a companion and someone to fuss over.

A big part of having pets is being active. Having a pet means taking care of them and cleaning after their mess, which also means you are forced to actually move more than your usual. You may also be forced to be more active especially when your pet needs to release pent-up energy or just wants to roam around so they can get to know their surroundings.

Taking your dog for a walk, cleaning the aquarium, or washing the bird cage will help you burn more calories which will benefit your heart in the long run.

An advantage of having pets is that they can offer stress relief especially after having a rough day. One of the best parts of getting home after work are the faces of my dogs who could not contain themselves and wag their tails and jockey to be petted. By then, you would have forgotten the woes of the day and you get to spend a few minutes just taking in the unconditional love from your pets.

When you have a pet in the house, you will always have something to pick up, clean, or wash. So be prepared to move around because your pet will keep you moving.

If you have kids, having a pet will teach your kids responsibility and a chance to think of others’ needs. Having a pet is a big responsibility. One which involves taking care of another life. Which means that you cannot just dismiss them or throw them away when you do not want them anymore. So if you are looking for pets, please start looking in shelters rather than pet shops. An Aspin can love you as much as an Akita or a Rottweiler. And if you are getting a pet for your kid, bring them along so when they do choose what they want, you can tell them what they need to do to make their pet healthy, and you can make agreements on what they should do every day to take care of their pet.

Aside from this, you also need to factor in other considerations like budget, time needed to take care of them, and a trustworthy veterinarian. We used to have a dog who was left in front of our house. He had the worst case of mange I have ever seen and when we were able to befriend him, we took him to a vet near our place. The vet who took care of him waived her

professional fee and even gave us medicines to treat his mange and malnourishment. From then on, she would waive her fee because it turned out she also owned a dog shelter and since we were taking care of the dog, it meant one less dog from her shelter. Make sure you have a trusted veterinarian who will really take care of your pet.

“Dog is man’s best friend”—thus said Frederick of Prussia in 1798 as a beloved reference to his Italian greyhound. While this may have been the first reference to dogs, they may have been domesticated earlier. Archeologists have discovered skeletal remains of dogs in Iraq 14,000 years ago suggesting they may have been man’s best friend even earlier.

While dogs may have been a popular choice for pets, countries like Egypt revered cats as enchanted creatures and even adorned them with jewelries and fed them treats which would shame even the most lavish of cat treats today.

But one thing is clear: pets will continue to play a significant role in our lives. And when you do decide to get a pet, understand that while they may not outlive you, what they bring to your life is unconditional love, unbridled laughter, and the joy of having made an impact in someone’s life. n

The gender pay gap that no one is paying attention to

By Felice Klein Boise State University THAT women are paid less than male colleagues is a stubborn fact in the workplace.

As of July, women in the US earned 84 cents for every dollar a man earned. It is a discrepancy that has garnered significant attention from scholars, the media and sex discrimination lawsuits.

But this figure only tells part of the story regarding gender pay inequality.

As a professor of business management, I have long studied compensation and inequality and know that base pay is only one way that women are disadvantaged in the workplace. Recent research by myself and colleagues shines a light on how female employees—particularly in the tech industries— likewise lose out when it comes to other forms of pay that receive far less attention: equity-based awards.

These are stock grants, in which employees are offered shares in the firm as a form of pay, and stock option grants that offer the right to buy company stock at a preset price in the future. The value of both are tied to the employing organization’s market price.

LESS OF AN OPTION? Equity-based awards are commonly used in technology firms and start-ups and can make up a substantial part of employees’ compensation. In fact,

according to the 2014 General Social Survey, which was administered to a national random sample of working adults, 20 percent of all workers in the private sector own stock and stock options in their companies. Some estimates suggest the average value of stock options to employees who receive them is $249,901, and the average value of stock is $60,078.

My colleagues and I wanted to see if gender played a role when it comes to equity-based pay.

Aaron D. Hill of the University of Florida, Ryan Hammond at the data storage company Pure Storage, Ryan Stice-Lusvardi at Stanford University and I analyzed equity-award data from two technology organizations.

We found a gender gap for equity-based awards ranging from 15 percent to 30 percent—even after controlling for the typical reasons that women tend to earn less than men, such as differences in occupation and length of service at a company.

WHAT’S IN A NAME? WE wanted to know what could be behind the discrepancy, so we ran an experiment in which we asked working professionals to play the role of a manager in a fictitious company.

Participants were asked to read a set of employee performance reviews and distribute stock options to their team based on one of two criteria often used for equity-based awards: retaining talent and

recognizing high potential employees. The fictional employees were randomly assigned one of two gender-typical names, Steven and Susan, so that each profile was given the man’s name half the time and a woman’s the other half. This helped ensure that any differences between the profiles did not affect the results.

What emerged was a gender gap favoring men when it came to distributing stock options based on retention—but not based on potential.

In other words, the data showed when it came to equity being used as an incentive to keep employees at the company, there was a significant gender gap.

Our results were backed up by what we saw in the data provided by the technology firms, as well as publicly available data of executives. These findings come at a time when many companies are seriously looking at gender pay discrepancies.

But even with efforts under way to address the gender gap in base pay and bonuses, we believe that many businesses do not appear to be focusing equal attention to equity-based awards. We heard this firsthand in interviews conducted with 27 human resources professionals at both public and private companies.

Although nearly all interviewees acknowledged their employers were doing pay audits for base pay, and sometimes bonuses, only three said their companies conducted audits on equity-based awards.

We also found evidence of this within the two technology companies we studied.

There was small to no gender gaps in salary and bonuses after controlling for typical reasons that women receive less pay; however, large gender gaps existed in equity-based awards.

UNEQUAL EQUITY PART of the reason this gender gap in equity awards exists is down to why they are handed out to employees in the first place. Stocks and options are most often distributed to employees to keep them from leaving. In fact, a survey of 217 companies found that almost 90 percent said retention was the primary objective of their stock option program.

Our interviews with HR professionals backed this up. Interviewees described equity-based awards as retention incentives for “high performers” and as “a forward-looking reward program.”

And studies have shown that men tend to be perceived as more capable in work settings than women and as such are likely viewed as more important to retain in a company and often seen as a higher risk of leaving for a rival.

As a result, men are likely to receive more equitybased awards than women. While some companies are working hard to address gender inequality, our findings suggest that efforts should be applied more broadly to all forms of pay. THE CONVERSATION

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B6 Wednesday, August 5, 2020

Toyota celebrates 32 years in the Philippines!

The Legend that is the Hyundai Starex

IN A LEAGUE OF ITS OWN. No matter where you choose to go, the legendary Hyundai Grand Starex provides premium comfort and style throughout long journeys. It has received numerous awards and has been inducted to the motoring Hall of Famed. This Hyundai flagship van became the top choice of many Filipino families, personalities, and business owners.

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HE Hyundai Grand Starex has established a legacy all its own as a stylish and reliable people mover, making it the vehicle of choice of many Filipino families and local celebrities, politicians, and business movers and shakers.

But you don’t have to be famous or a star. The premium features of the Starex already make the proud owner feel like one.

Its string of awards received since 2001 says it all, elevating Hyundai’s flagship van to the motoring Hall of Fame--from Most Comfortable Ride to Best Safety Features, from Best Engine Performance to Best Fullsize People Carrier, to Automobile of the Year.

The list goes on and on: Star Quality, Beauty is in the details.

But looks can be deceiving because every Hyundai-designed vehicle is not only beautiful but functional. That stylish, curvy exterior is engineered for smoother aerodynamics while on the move, making it stand out all the more in a segment packed with bulky passenger vans.

Star Comfort, Inside and out, the Starex is designed for relaxation, bonding, and long, happy naps.

The long wheelbase not only assures ample legroom, but also makes the ride stable and noise-free even while moving at top speed.

The A/C vents distribute the powerful air conditioning evenly throughout the van, while the distinctive double sliding doors make it a breeze to hop in and out of the vehicle.

And even if it is famously spacious, there is always a place for everything, and everything has its place. Up front, the twotiered glove box and overhead console accommodate driver stash while passengers can load their road trip essentials, like water bottles, snacks, or reading materials into the multiple door compartments.

Star Power, Yes, it’s a beauty to behold, but beneath the hood is a beast powered by Hyundai’s signature 2.5L CRDi VGT Diesel Engine with maximum power of 170ps and a maximum torque of 45kg-m mated to a 5-speed Automatic Transmission with

H-matic manual mode.

This spells enhanced fuel efficiency while allowing the driver optimal gear control. Star Protection, From front to back, the Starex is all about “passenger first.”

The front-mounted engine makes for reduced vibration and heat emissions and an added safety cushion in case of frontal collision.

Inside, the driver safety windows and dual front air bags assure optimal safety.

At the back, rear parking sensors and a rear underview mirror facilitate safe and precise parking.

Star Performance, What gives a star staying power? It’s the capacity for reinvention. Through the years, the very same features that make the Hyundai Grand Starex the family comfort vehicle of choice also make it a premium mover of commuters and cargo.

And in these times where the health sector is constantly on emergency mode, the Grand Starex Ambulance has helped health professionals to give patients fast and uninterrupted care.

To sum it up, Hyundai’s all-time favorite van is designed and built to make you the star of your own show in ways that other vans can’t: outstanding comfort with dynamic possibilities.

For better journeys, you can only replace a Starex with another Starex.

Even better, Hyundai Asia Resources, Inc. (HARI), the official distributor of Hyundai vehicles in the country, has made it easier for you to shop for one online at HOME on hyundai.ph.

To learn more, visit www.hyundai.ph/ van/grand-starex or the Hyundai Philippines Facebook Page. Or spare yourself unnecessary trips and maintain social distancing by requesting for a quote and applying for an auto loan at the Hyundai Online Market Experience (HOME) Page www.hyundai.ph/shop/HOME.

2020 Tayo Awards opens digital search for youth groups with Covid-19 response programs

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HE Ten Accomplished Youth Organizations (TAYO) Awards Foundation, together with its partner, Coca-Cola Foundation, is calling for entries to the special digital edition of its annual TAYO awards particularly recognizing youth groups that mobilized in response to COVID-19.

This year, instead of accepting nominations for multiple categories, the 18th TAYO Awards will have one distinct category in honor and recognition of the bayanihan spirit of youth organizations whose programs and projects have responded to the pandemic and the enhanced community quarantine.

Interested clubs, groups, organizations and societies may accomplish the online registration form for the TAYO 18: Bayanihan Run and submit their digital entries on or before August 18, 2020. This year’s screening and selection processes will also be done online in keeping with social distancing measures and quarantine protocols.

The TAYO Awards is open to formal and non-formal youth organizations which consists of at least 5 members under 30 years old and has been active since April 2020.

Application is free and organizations can submit multiple entries so long as they are of different projects or programs.

For the past 18 years, the TAYO Awards has recognized and supported youth organizations that go beyond empowering communities.

Its awardees and finalists receive P50,000 and P20,000 seed grants, respectively, to help fund their ongoing projects or start new ones.

In partnership with Coca-Cola Philippines, the TAYO Awards Foundation also bestows the Coke Barkada Award to youth groups whose projects are geared towards environmental and

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OYOTA celebrates 32 years of operations in the Philippines on a very hopeful note, highlighted by the recent launch of its new Toyota Vios. As the country looks to reopen the economy after going under quarantine in March, Toyota Motor Philippines Corporation (TMP) renews its partnership with the Filipino people in its pursuit of nation building.

In a message to all team members, TMP Chairman, Alfred V. Ty, expressed his confidence that better days lie ahead. “In our over 30-year history, we have faced many challenges but this is by far the most challenging we have seen. Of one thing I am sure: this will be our finest moment.

We will draw on our collective strength to support government in its recovery efforts and we will assure our customers and each one in our Toyota family that we will stand by each other every step of the way,” he said.

In previous years, TMP team members would normally begin the day with a general assembly to honor its achievements and achievers. Atsuhiro Okamoto, TMP President, was convinced that the prevailing health crisis would not get in the way of this year’s celebrations. He called for a virtual gathering of the whole company, very much in line with the emerging new work norms.

Okamoto shared his optimism about the fight against the COVID-19 virus. He pointed to the success of countries like New Zealand and Thailand in their efforts to contain infections. “Other countries have shown that this virus can be controlled. We will get there, too, if we continue our adherence to the necessary health protocols. We will win this battle,” he said. “I would like to thank the government and all our front line workers for their selfless efforts in this time of crisis. Let us work together and heal as one.”

In 2019, Toyota ended the year with its 18th consecutive triple crown – a testament to its overall popularity as well as that of its passenger car and commercial vehicle product offerings.

Toyota has been the most preferred automotive brand of Filipinos in all but three of its 32-year history. Since 1988 until June, 2020, TMP has put 1.78 million Toyota vehicles on Philippine roads. From only three initial models in its lineup, TMP now offers a selection of 78 models and variants, including such favorites as the Vios, Innova, Hilux, Fortuner, Wigo, Rush, Avanza and Hiace. It has also introduced a growing number of hybrid electric vehicles and a whole range of luxury products under its Lexus brand.

Most importantly, TMP has been a vital part of the manufacturing and industrial landscape of the Philippines for over three decades. At the end of 2019, TMP provided livelihood to 55,000 Filipinos across its entire supply chain. It has made cumulative investments of P64 billion and paid P384 billion in cumulative taxes and duties.

Annually, TMP generates exports of $1 billion in

Philippine made local parts. Since it started its local production in 1989 until June, 2020, TMP has produced almost 880,000 units.

As it marks 32 years in the Philippines, TMP embarks in earnest on its transition to a mobility company. Together with its 71 dealers nationwide, Toyota is transforming itself into a one-stop solution provider to meet the growing mobility needs of Filipinos. In line with its mission of providing the best vehicle purchase and ownership experience, TMP has expanded its services to include Toyota Financial Services, Toyota Insure Program and Toyota Certified Used Vehicles.

In the area of new mobility, it has started offering Connected Auto Loans, Full Service Leases and a newly launched Kinto package that is similar to a vehicle subscription program. TMP is also piloting On-Demand Shuttle services with the Department of Transportation and offering Fleet Management Services to select partners.

Additionally, Toyota has ramped up its program of digitalization to meet a growing and apparent shift in consumer behavior towards an online consumer experience. New initiatives such as the launch of a virtual Toyota showroom, a new MyToyotaPH app that puts maintenance of your Toyota vehicle on your mobile phone and even an exciting new Supra GT Cup race experience in place of the well-followed Vios Cup. Through all the years, TMP has never forgotten its responsibility to give back to society.

During the quarantine, TMP donated 30 Vios vehicles to the Department of Health and Local Government of Santa Rosa. It also loaned a fleet of almost 50 vehicles for use of essential workers.

Dealers across the country worked with their respective communities to provide much needed relief goods. TMP also engaged its engineers and skilled workers to produce 43,000 masks for distribution to essential workers, government units and own team members.

All these are on top of Toyota’s continuing support to the environment through programs like its Coastal Clean-Up and Mangrove Planting Program; education through the TMP School of Technology; and well-being through its partnership with the Philippine Paralympic Committee and much more.

As TMP moves forward, it reaffirms its partnership with the Filipino people. “This crisis is surely a very challenging experience for everyone.

But as market leader, it is our responsibility to elevate customer service even in these most difficult times. We will redouble our efforts in helping to bring the Philippine economy back on track to a better tomorrow. Indeed, we are stronger together,” concluded Chairman Ty.

The first ever student-led online concert landing in virtual spaces near you

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educational stewardship. A beacon of the Company’s vision of building a better shared future, this year’s Coke Barkada Award recipient will get an

additional P30,000 grant to be used for sustainable project implementation.

To learn more about the 2020 TAYO awards, visit tiny.cc/TAYO18primer.

HE annual Animusika is making its comeback as we bring it closer to you! Witness music that can make your heart sing at the comfort of your own homes.

Animusika is the culminating night of La Salle Week, showcasing the love for local music by bringing acts of talented Filpino artists together as one. More than just a concert, this initiative, along with Kada Uno Lasalyano, aims to raise funds in support of the Filipino frontliners and the impoverished families that were gravely affected by the pandemic.

This year, we’re bringing some of the most soulfully inducing beats, including Mayonnaise, Itchyworms, Kiana V, and many more! The best part? This event is completely FREE! Catch all of these excitements on August 8, 2020 from 5:00PM onwards streaming at https:// www.facebook.com/MissionAtDLSU/.

About Pintig: Relaunched from DLSU University Vision-Mission Week 2020, Pintig: Pusong Lasalyano is a studentled university-wide initiative that

commemorates National Heroes Day, which centers on celebrating the legacy of our heroes through service. This weeklong event highlights activities that not only cater to the entire student body and staff of De La Salle University, but also give back to the community and to the society through its partner beneficiary, Kada Uno Lasalyano.

This year’s theme revolves around one of the Lasallian Core Values, ZEAL FOR SERVICE. This initiative aims to inspire the emerging servant-leaders of DLSU to put Lasallian education into action amidst the uncertainties of the COVID-19 pandemic.

To know more about the event, follow them in their socials to stay updated: https://www.facebook.com/ MissionAtDLSU/; https://www.instagram. com/missionatdlsu/ This initiative is part of Kada Uno Project of De La Salle Philippines with DSWD Authority/Solicitation Permit No.: DSWD-SB-SP-00036-2020. #Pintig2020; #PusongLasalyano

BusinessMirror

Editor: Tet Andolong

Wednesday, August 5, 2020 B7

Built for the future: Greenfield City’s vibrant communities

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ounded on a proud heritage of innovative projects beginning 1961, Greenfield Development Corp.

(GDC) remains one of the Philippines’s most stable and diversified real-estate companies, with its arsenal of successful projects spanning the industrial, commercial, residential, recreational and infrastructure developments.

Bu i ld i ng l a st i ng , f ut u re - proofed , mixed-use communities has always been at the core of Greenfield’s business. Since the company’s inception, it has embraced its mantra of “Building for Generations,” as it establishes properties meant to stand the test of time. Not only does Greenfield

Zadia is a mid-rise condominium in Greenfield City, perfectly marrying the conveniences of condo living with the balance and peace with living in close proximity to nature.

Trava’s spacious lots are envisioned to be gateless, its concept houses feature “green” roofs and utility wiring is fully underground to help ensure well-being of families.

Development Corp. create structurally sound spaces for the residents that it values, but it also has a positive regard of the environment it is surrounded by.

It strategically selects prime real-estate locations, taking care so as not to compromise nor impinge upon the land its properties will stand on.

As Greenfield continues to grow and build a lasting legacy, it stays true to its promise of creating vibrant, living communities for future generations, through adopting sustainable concepts and innovative building techniques. Faithful to its commitment of developing future-

Zadia has devoted 84 percent of its area to tree-lined roads, parks, playgrounds and green open spaces—a luxury practically unfounded in Metro Manila.

Another property that incorporates future-ready concepts with the comforts of suburban living is Greenfield City’s Trava, a 33-hectare premier, tropicalthemed residential development designed for discerning homebuyers. Underground utilities, solar-powered green roofs, and use of sustainable building materials create the peaceful, sustainable haven that residents can enjoy for many generations.

ready and nature-centric homes.

Greenfield City (www.greenfield.com. ph), Greenfield’s 400-hectare enclave in Sta. Rosa, Laguna, is a living testament to the company’s vision of creating selfsustaining spaces. The area, which touts life in a “city within a park,” plays home to several community-centric lifestyle and office establishments well within reach of its residents.

Situated at the heart of Greenfield City, meanwhile, is the five-building condominium Zadia. Created with the spirit of fusing modern living with a nature-inspired or “greenspired” lifestyle,

#YouNeedSpace for a new beginning T

he new normal has pushed us not just to adapt to different changes, but to reevaluate our priorities in life as well. We’ve come to realize that the home is a safe space where we can move freely, work efficiently and feel most secure. Acknowledging that #YouNeedSpace where you can start anew, Century Properties makes it easier for you to buy your dream Century home in the new normal through an online customer journey with your ease and convenience in mind.

community

Home

Why you should use a shower filter

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AKING a shower is one of the ways we practice cleanliness and good hygiene. The quality of water we absorb in our bodies during a shower, however, may put us at risks instead as rapid growth in population, urbanization and industrialization degrades our water.

In the Philippines, up to 58 percent of groundwater sampled is contaminated with coliform and needs treatment, rendering it harmful to the skin.

With our body absorbing three times as much water through the skin when showering than when drinking water, clean bathing water is essential.

A shower filter helps keep water for bathing clean and safe to use. What’s more, it can reduce harmful substances in the water, which in turn helps prevent skin rashes and other health problems.

#YouNeedSpace to renew

NoW more than ever, we need to value space and how having enough room to move around allows us to breathe easy and do the things we love. The Residences at Commonwealth by Century in Quezon City, a sprawling gated community that features eight mid-rise towers, open spaces, and family-friendly amenities, offers spacious units in a convenient location that puts you in the middle of the city while still giving you the serenity you deserve.

Commonwealth by Century has expansive condo units with usable balconies that are ideal for couples, small families, and young professionals who are looking into investing in a home. Delivered with highquality finishes, each unit is easy to style and personalize—allowing you to channel your personality into the overall look of your home.

The bonus? You don’t need to venture out of the property to have time for leisure. Commonwealth by Century’s family-friendly amenities lets you develop your passions while still letting you spend time with your loved ones. Swim, jog, paint and play—you can achieve work-life balance here.

With Greenfield ’s master-planned communities, discerning homebuyers not only find a place they can call home and commune with naturefor themselves and for their families for many years to come.

Zadia and Trava are just two of Greenfield’s exciting developments that look toward the future. With its use of sustainable practices and adoption of ecoefficient designs, Greenfield is poised to transform more areas into bustling communities that will coexist harmoniously with nature for future generations.

Reni Salvador

Here are the other benefits of using a shower filter: The Residences at Commonwealth by Century’s family friendly amenities like the pool, lawns, and playgrounds below allow you to enjoy the outdoors amidst a spacious and serene environment

Click Century

True to its #CenturyAtYourService promise, Century Properties can help you find the home of your dreams while still prioritizing your health. Through contactless selling, Century Properties will guide you through an online customer journey which involves learning about the property, taking a virtual tour of the units, and talk-

ing to an agent—all from the comforts of your home.

With improved web sites that feature 360-degree virtual tours and a live chat box, you can choose the right investment and the payment terms that suit your needs.

To learn more about Commonwealth by Century and see the virtual tours, log on to www.commonwealthbycentury.com.

STP inaugurated

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he Solar-Powered Sewerage Treatment Plant (STP) beside the Manila Yacht Club was operationally inaugurated with unveiling the historical marker by Fr. Efren Tawagan who officiated the ceremonial blessing. Witnessing the event were MYC Commodore and Rotary Club of Manila (RCM) President Robert Lim Joseph, Environment Secretary Roy Cimatu, MMDA Chairman Danilo Lim and RCM immediate past President Jackie Rodriquez. The STP has the capacity of 500,000 liters daily of dirty water from the outfalls of Remedios, Padre Faura and Estero de San Antonio Abad, so that only clean water will reach the Manila Bay.

n Makes skin feel softer and healthier

Contaminants in water such as lead and chlorine can cause skin dryness with too much exposure. A shower filter removes these harmful substances from the water, contributing to softer and healthier skin.

n Reduces the risk of some cancers

Exposure to chlorinated water may pose dangers to the body. Continuous absorption of chlorine through the skin may increase the risk of some cancers. Showering with filtered water can help reduce this risk.

n Prevents contamination of the air inside homes

ContaminantS suspended in the air can mix with the air inside your rooms after you open the bathroom door. Installing a shower filter can help prevent this from happening by keeping the air inside your bathroom clean.

n Reduces fatigue and improves energy

The chlorine present in water can aggravate the skin and lungs, potentially causing fatigue. Filtered water without contaminants can help improve energy levels.

n Reduces excessive product buildup in bathrooms

Shower filters lessen the buildup of chlorine and salt in the nozzles of the shower head and corners

of the bathroom. This means fewer areas of concern when cleaning the bathroom.

Developed with balanced design, usability and ergonomics in mind, the Kohler Exhale Shower Filter features a contemporary aesthetic at the same time highlights ease of use and benefits. It eliminates residual chlorine, heavy metal and other harmful substances from the shower water to produce water that’s safe for the skin.

The contemporary design, which won the iF World Design Award in 2016, complements the modern bathroom, with the crystal-clear outer shell symbolic of nature’s cleanest water. The polished chrome finish is resistant to corrosion and tarnishing.

The Kohler Exhale Shower Filter is easy to install and replace, with no need for tools. It also features an intuitive replacement reminder and easy change filter.

A refreshing and safe shower is vital to one’s health, and a shower that helps rid the bathroom and the rest of the house of contaminants ensures the health of the family. Kohler offers bathroom essentials that can help you achieve the highest standard of hygiene. For more information, please visit www.kohler.ph.

Sports BusinessMirror

B8

| Wednesday, August 5, 2020

mirror_sports@yahoo.com.ph Editor: Jun Lomibao

Globe fortifies Summer Quarter 2020

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LOBE partnered with campus eSports initiative Esports AcadArena for the Summer Quarter 2020 that kicked off last month and ends in September.

Participants get the chance to hone their skills in casting, production and other eSportsrelated disciplines through a series of courses and talks handpicked by their respective organizations.

They will also have the opportunity to put their skills to the test by helping produce AcadArena’s Esports tournaments.

Participating organizations can also have their own professional teams compete in the

tournaments of the Summer Quarter 2020 which stake two titles—the Alliance League and Mobile Legends National Cup. Under AcadArena’s Alliance program, 10 campus student organizations will be given hands-on training and infrastructure support so they can participate in the inaugural season of League of Legends and Hearthstone.

The season will run every Saturday until August 29 from 2 p.m. to 8 p.m. with the semifinals set on September 12 and 13 and the finals on September 19.

For the League of Legends tournament, two groups of five players will vie a round-robin

PELICANS COOL HEAT THE Grizzlies’ Brandon Clarke (15) and Jaren Jackson Jr. (13) gang up on the Pelicans’ Zion Williamson. AP

competition where the top 2 from each group will advance to the best-of-five semifinals. The Hearthstone tournament, on the other hand, will utilize a 16-player elimination phase.

In Mobile Legends, the winner be the

official Philippine qualifier for the PVP Esports Campus Championship, the regional eSports league hosted by Globe partner Singtel.

Football postpones return-to-training plans by two weeks

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HE Philippine Football Federation (PFF), just like the Philippine Basketball Association (PBA), has no choice but to move back the planned return to training of teams in the Philippine Football League (PFL).

With President Duterte’s order for the imposition of a 14-day modified enhanced community quarantine (MECQ) in Metro Manila and neighboring cities starting on Tuesday, professional team sports had to postpone all its planned return to activity by at least two weeks.

“The PFF exhorts everyone to observe best

practices in combating Covid-19, cooperate with local and national authorities, and be safe and healthy during the ongoing state of public health emergency in the country,” the PFF said in a statement on Tuesday.

The PFF said it intends to kick off training after the MECQ is lifted.

PFL teams were permitted to start training under strict health guidelines through the Joint Administrative Order drawn by the Philippine Sports Commission, Games and Amusements Board and the Department of Health.

The PFF was all set to bring the teams for training at the National Training Center in Carmona, Cavite, until President Duterte decided on the MECQ. The Carmona facility boasts of an International Football Federation-funded artificial turf and two mini pitches sponsored by the Asian Football Confederation.

PBA Commissioner Willie Marcial announced on Monday that the league is postponing returnto-training activities of its 12 teams.

Ramon Rafael Bonilla

MITRA: BOXERS NEED HELP, TOO G

AMES and Amusements Board (GAB) Chairman Abraham “Baham” Mitra said the agency would be relentless in seeking government support for professional combat sports athletes whose means of livelihood was shuttered by the Covid-19 pandemic.

Mitra appealed to the Department of Social Welfare and Development and Department of Labor and Employment as early as last April to

include licensed boxers, other contact sports fighters and trainers for them to receive cash assistance from the national government.

“Some athletes were able to receive the first tranche of financial aid which ranged from P5,000 to P8,000 from the subsidy program of the DSWD,” Mitra told the online Philippine Sportswriters Association Forum on Tuesday.

“Senator [Christopher] Bong Go also went

to the rescue and chipped in P5,000 each for the boxers in the National Capital Region and nearby areas,” he added.

But because professional fights remain banned during the pandemic, Mitra said the fighters are trying fighting a different battle to survive.

“The situation is very difficult,” Mitra told the forum presented by San Miguel Corp., Go

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AKE BUENA VISTA, Florida—Zion Williamson said he felt “alive again” after getting a chance to help his team close out a game.

Brandon Ingram scored 24 points, Williamson added 23 points and matched his career high with five assists in his most extensive playing time since the National Basketball

Association (NBA) restart, and the New Orleans Pelicans got a much-needed 109-99 victory over the Memphis Grizzlies on Monday night.

“My competitive spirit was there and I’m glad Coach and the whole team trusted me to finish the game out,” Williamson said.

After being limited to a combined 29 minutes in his first two games back, Williamson played 25

For Gold, Milo, Amelie Hotel Manila, Braska Restaurant and the Philippine Amusement and Gaming Corp. and powered by Smart with Upstream Media as the official webcast partner.

“We already reached out to the DSWD and DOLE for their assistance, but because some of our fighters did not receive the first tranche of financial assistance, chances for them being included in the second wave of the subsidy might not materialize,” he said.

Professional boxing, like basketball and football, had to take a sidestep anew after Metro Manila and nearby provinces went under modified enhanced community quarantine anew for 14 days starting on Tuesday.

Mitra said the GAB would continue coordinating with the DSWD on the plight

of the professional fighters whose jobs fall under the “no play, no pay” scheme.

The GAB chairman also stressed in the forum that violators of health and safety protocols among the ranks of professional athletes would be penalized as specified in the Joint Administrative Order (JAO) the agency formulated with the Philippine Sports Commission and Department of Health.

“The JAO gives us the authority to sanction professional athletes who breach protocols in their respective leagues—and we will be strict on that,” said Mitra, referring to the Philippine Basketball Association and the Philippine Football League.

“We can readily revoke their licenses if they break the rules,” he said. Ramon Rafael Bonilla

GAMES and Amusements Board Chairman Abraham “Baham” Mitra wants professional boxers to receive financial assistance from the government.

DOH okays PSL training under GCQ

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HE Philippine Superliga (PSL) would return to training as soon as the government lifts the modified enhanced community quarantine (MECQ) that was enforced anew in Metro Manila and nearby cities on Tuesday.

PSL Chairman Dr. Philip Ella Juico said that the league formally received the green light to return to training through a memorandum from the Department of Health dated July 23.

In the letter, DOH Assistant Secretary Nestor Santiago approved and made some recommendations on the health and safety guidelines submitted by the PSL the conduct of

physical activities and sports during the pandemic.

The DOH said PSL teams’ practices would start under GCQ but only five players are allowed to train, along with a skeletal workforce of up to 10 persons. Noncontact sports would be limited only to strength training.

Juico welcomed the development saying the PSL would be the first women’s volleyball league to return to training.

“I am pleased to inform you that the health and safety protocols that we submitted to the Department of Health had been approved with some recommendations,”Juico said in a statement.

The coach yells— but, of course THAT’S ALL Al Mendoza | alsol47@yahoo.com

WHEN the government speaks, we listen.

Otherwise, there could be chaos.

When the government barks decrees, we obey. Otherwise, there could be civil disobedience.

And when the government gets angry, we could be in deep shit.

Happily, the PBA (Philippine Basketball Association) and the PFF (Philippine Football Federation) listened and obeyed when the government ordered on Monday another stoppage of organized group activities—and that includes sports training—from August 4 to August 18.

That essentially means shuttering the two leagues’ planned practices in preparation for a grand comeback, whether individual or group activities, for the next two weeks at least as the pandemic appears, again, to be infecting a vast number of our folk—seemingly without

letup, gardemit.

Just days back, there was a spike of 10,000plus new cases in the metropolis and its environs alone in just two days, more than four months after the severely contagious virus first appeared in the Philippines via Dumaguete City. Those infected is nearing the 200 thousand plateau, with deaths listed at almost 2,000.

President Duterte’s move to re-impose the MECQ (modified enhanced community quarantine) in Metro Manila, Bulacan, Cavite, Laguna and Rizal was a result of tsunami-like surges of Covid-19 infections in these areas following the easing up of mass movement restrictions some weeks back.

It was also Duterte’s way of responding to the frenzied plea of our health workers for the government to call “a timeout” and make another serious review of our Covid-19

minutes, although he appeared to get fatigued when he didn’t hustle back on defense and was taken out with six minutes to play. But he returned a short time later and helped the Pelicans close on a 12-6 run.

“The medical guys thought that he was able to go back in and play,” Pelicans Coach Alvin Gentry said. “He played really good down the stretch.”

The game also included another Williamson shoe incident.

Williamson drove the lane in the third quarter and landed awkwardly, losing his left shoe. However, the big man quickly put the shoe back on and remained in the game. It brought back memories of when the then-Duke freshman sensation injured his knee in February 2019 when his foot ripped through the side of his shoe as he attempted to plant his foot.

Ingram was solid late, making a pair of jumpers including a transition 3 to help hold off the Grizzlies.

Jaren Jackson Jr. had 22 points for the Grizzlies, who fell to 0-3 since the NBA restart.

Ja Morant struggled from the field, finishing with 11 points on 5-of-21 shooting.

“Our offense has got to be better,” Grizzlies Coach Taylor Jenkins said. “... If we play a little better on the offensive end I think we will be in a good spot.”

After the game, Morant tweeted, “instead of giving up on the face of adversity, you should face it with a positive attitude & smile.”

Lonzo Ball had called it a “must-win game” after the Pelicans lost their first two games since the restart, dropping them to 11th place in the Western Conference standings.

Now they’re 2 ½ games behind the eighthplace Grizzlies. The ninth-place team can qualify for a play-in matchup against the eighth-place team as long as it is within four games. The Pelicans still need to move past the Spurs and Trail Blazers to get to ninth place.

“It gives us a start, knowing that we have something to build on,” Williamson said. “Those two losses were bad but they’re both a learning experience. So this win gives us a start.”

Fred VanVleet, meanwhile, made another case for a big payday later this year VanVleet scored a career-high 36 points and made seven three-pointers, and the defending NBA champion Toronto Raptors added to their strong restart with a 107-103 victory over the Miami Heat on Monday.

VanVleet, who is set to become an unrestricted free agent after the season, finished 7 of 12 from beyond the 3-point arc and was a perfect 13 of 13 from the foul line, topping his 34-point total against the Pelicans last December.

The 26-year-old VanVleet is in the midst of a two-year, $18 million contract, but figures to cash in this coming offseason after helping the Raptors win a championship and then following that up with another strong season in which he’s averaging 17.5 points and 6.7 rebounds.

Pascal Siakam added 22 points and Kyle Lowry had 14 points and eight rebounds for the Raptors, who improved to 2-0 in the bubble.

Toronto resumed its season by beating the Lakers and remains in second place in the Eastern Conference.

Goran Dragic had 25 points for the Heat. AP A former chairman of the Philippine Sports Commission and currently the president of the Philippine Athletics Track and Field Association, Juico said mandatory swab testing would no longer be needed because women’s volleyball is not as physical as professional basketball, football or boxing.

Pro basketball, football and boxing got a returnto-training approval through a Joint Administrative Order from the DOH, Games and Amusements Board and the Philippine Sports Commission.

Swab testing, Juico said, would be at the discretion of the teams. But they would be required to coordinate with the local government units where teams would conduct their trainings to ensure proper monitoring and compliance. strategy amid what is feared like a “collapsing” health-care system.

“Coach” Duterte listened to his so-called first five and, to his credit, he promptly made the adjustment. Derail the virus ploy. Return the MECQ and, in effect, ignore the contrary strategies of his assistants, namely Dominguez and Lopez.

OK, the coach did some scolding after yielding to his players’ pleas but, hey, tell me, who is the mentor that doesn’t do that? Unless you have a sissy on the bench.

In short, a coach yelling at his players is as natural as a mother-to-be screaming at the top of her lungs when her child is about to be born.

So, c’mon, ref, blow your whistle and let the game begin. Prrrt!

THAT’S IT While the PBA is on hold yet again, everything seems to be going smoothly in the NBA (National Basketball Association) restart.

No single infection has been reported thus far in what they call the NBA bubble inside the Walt Disney World complex in Lake Buena Vista, Orlando, Florida, since the July 31 resumption of games that were halted on March 11 following the infection of Utah’s Rudy Gobert. As if by design, Gobert made the first basket of the NBA’s return before sinking the winning charities himself for Utah’s 106-104 win over New Orleans.

Gobert’s niche in NBA history is secure.