BusinessMirror August 21, 2020

Duterte to get Bayanihan 2 for signing next week

By Butch Fernandez & Jovee Marie N. Dela Cruz

T

HE Senate was poised to ratify late Thursday the P165-billion funding bill endorsed by a bicameral panel to bankroll the Bayanihan To Recover as One Act, also known as Bayanihan 2.

The House of Representatives will ratify the bicameral version on Monday, according to the chamber’s leaders.

Sen. Juan Edgardo Angara, Senate Finance Committee chairman, said the final version was agreed upon in an earlier meeting of senators and congressmen sitting in a bicameral conference panel that wrapped up the Bayanihan bill for timely approval

by Congress, so it could be submitted to President Duterte for signing into law.

Angara said P140 billion will be drawn

WORKERS put finishing touches to the new molecular laboratory in Barangay Teachers Village East, Quezon City, on Thursday. The local government is set to open the laboratory, which can process 500 tests per day, by the end of August. NONOY LACZA

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from regular appropriation allocations, while the balance of P25 billion will be funded from government savings or fresh revenues.

The senator noted that just like Bayanihan 1, Bayanihan 2 can be deemed part of an extra power for the President given the emergency situation in the country with the Covid-19 pandemic. The Bayanihan packages effectively provide the Executive spending authority to respond to the pandemic by realigning the 2020 budget and legislating outlays for the response.

While the bulk of Bayanihan 1 went to emergency doles for millions of Filipinos impacted by crippling lockdowns imposed to curb transmission of the deadly coronavirus, Bayanihan 2 is meant to help badly hit sectors recover, while allotting also funds for other vital pandemic measures like contact tracing and quarantine facilities.

As approved, Angara said Bayanihan 2 was crafted for the “survival and recovery” of the country from the Covid-19 pandemic, with 25 percent of the budget or over P40 billion allotted for the health sector.

Tucked into the budget proposal is funding to buy medical supplies to contain Covid-19, including Covid test kits and personal protective equipment for health personnel assigned to Covid areas.

Angara said it also included budget for contact tracers as well as the purchase of vaccines against Covid 19 and setting up isolation and quarantine facilities.

In addition, it will fund the P10,000 a month “special risk allowance” for public and private health workers, apart from P15,000 for treatment of health workers afflicted with mild or moderate Covid 19 infection.

Continued on A2

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Friday, August 21, 2020 Vol. 15 No. 316

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KEY RATES UNTOUCHED F

OR the first time this year, the Monetary Board (MB) decided to take a breather from cutting interest rates to pump the local economy in four consecutive rate cuts for the first eight months of 2020.

The Bangko Sentral ng Pilipinas (BSP) kept its main monetary policy rate unchanged on Thursday at 2.25 percent. Interest rates on the overnight deposit and lending facilities were likewise kept at 1.75 percent and 2.75 percent, respectively.

The decision was based primarily on the MB’s assessment of a benign inflation in the economy, and that a “prudent pause” is deemed necessary for the time being.

“The Monetary Board is of the view that monetary policy settings remain appropriate for the time being. A prudent pause will enable

the cumulative 175-basis-point reduction in the policy rate, as well as other monetary and regulatory relief measures by the BSP, to fully work their way through the economy, even as the national government continues to implement interventions to bolster economic activity and protect human lives and livelihoods,” the BSP said.

Inflation

THE board, meanwhile, raised inflation projections for 2020, 2021 and 2022.

Continued on A2

‘LARGER STIMULUS NO GUARANTEE FOR MILDER RECESSION’

By Bernadette D. Nicolas

F

INANCE Secretary Carlos G. Dominguez III said rolling out a larger stimulus package during the Covid-19 pandemic does not guarantee that a country will undergo a milder recession.

Addressing local business chambers in North Luzon on Thursday, Dominguez argued that at least three countries experienced significant economic downturn despite having massive stimulus packages.

“This is not the usual economic crisis, where a larger stimulus package translates into a milder recession. For instance, we have seen that there doesn’t seem to be a direct correlation between the size of one’s stimulus package and the drop in GDP,” he said in a videotaped message to participants of the 29th North Luzon Area Business Conference, which was organized online via Zoom by the Philippine Chamber of Commerce and Industry (PCCI).

The country’s finance chief, who also heads the government’s Economic Development Cluster, noted that the economies of Malaysia, the United Kingdom and Sweden “retreated significantly despite massive stimulus packages.”

See “Stimulus,” A2

PESO EXCHANGE RATES n US 48.5610

BUSINESSES at the Bonifacio Global City are still trying to recover from two weeks of reverting to modified enhanced community quarantine, as the government tries to balance the health of the people and the economy in its efforts to stem the coronavirus pandemic. According to one expert, though, this “either-or” equation is misleading. Read, “Good health outcomes vs. good economic outcomes: A false choice,” on page A7. NONIE REYES

Hotels cut room discounts to cover safety rules

By Ma. Stella F. Arnaldo Special to the BusinessMirror

H

OTELS in Metro Manila have had to cut their average daily rate (ADR) on rooms by as much as 28 percent during the extreme community quarantines imposed by government to contain the spread of the novel coronavirus.

This was among the findings of realestate services firm Santos Frank Knight in its Hospitality Sector Update for the second quarter 2020. But the hotels trimmed

their ADR discount to an average of 25 percent under general community quarantine (GCQ), “to compensate for the additional costs incurred in complying with the health and safety protocols by the DOT [Department of Tourism].” Other hotels, which reopened only during the GCQ, offered smaller room rate discounts to recover lost revenues.

The company also projects a drop in new hotel rooms to 1,500 by the end of the year, from the original forecast of 2,700 rooms prior to the imposition of commu-

nity quarantines.

In an e-mailed message, Kash Salvador, the company’s associate director for investment and capital markets, said, “Hospitality and tourism are among the hardest hit sectors in the real-estate industry. Occupancy has dropped drastically over the last couple of months that slumped hotel revenues, and the global tourism market is still far from going back to pre-Covid-19 levels. At this point, some investors are on the lookout for distressed hotels to acquire.

It is very important now more than ever

that hotel owners and operators adapt and innovate to make use of their real estate in the changing times of today.”

She added, “Local tourism will be the best bet in the industry’s start of recovery.

Many of the country’s world-renowned tourist spots are just waiting to be rediscovered and enjoyed by the Filipinos.”

Under the enhanced community quarantine (ECQ) and modified ECQ from March 16 to May 31, overall hotel occupancy plunged by 25 percent, with those

See “Hotels,” A2

n JAPAN 0.4580 n UK 63.6878 n HK 6.2659 n CHINA 7.0182 n SINGAPORE 35.4356 n AUSTRALIA 34.8765 n EU 57.5205 n SAUDI ARABIA 12.9482

Source: BSP (August 20, 2020)

News BusinessMirror

A2 Friday, August 21, 2020

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Stimulus… Health workers with pre-March 8 Continued from A1

Malaysia’s economy contracted by 17.1 percent in the second quarter of the year in spite of a bigger stimulus package equivalent to 18.2 percent of its GDP, he said.

On the other hand, the UK’s economy went down by 21.7 percent although it had a total stimulus of 23.4 percent of its GDP.

Meanwhile, Sweden’s economy decelerated by 8.2 percent despite rolling out a bigger stimulus package of between 10.8 percent and 16.6 percent of GDP.

“Only Thailand and the Philippines had stimulus packages lower than the drop in their GDPs. In particular, the Philippines’ stimulus package is between 4.2 percent [and] 6.4 percent of GDP, yet our GDP drop is 16.5 percent for the second quarter of this year,” he said.

With this, Dominguez concluded that the size of the stimulus package is immaterial now and what is important is the impact of the stimulus to the economy.

“It appears that no matter how much money countries pump into their economies, their GDP would have shrunk massively, anyway. It is not the sheer size of the stimulus package that matters now but also whether it is actually saving the productive parts of the economy.

This is because the problem is not a systemic contraction or a cyclical bust. Simply, necessary mobility restrictions hamper aggregate demand,” he said.

“If we can keep the pandemic at bay so that tough restrictions are not necessary, the economy should recover. In the meantime, we have to make sure we can adequately finance the country’s needs during the protracted struggle with this virus,” he added.

Critics have since said that the crisis being faced by the country right now calls for a much bigger fiscal stimulus package from the government.

The House of Representatives has already passed two massive economic stimulus packages on third and final reading. These include the P1.3-billion Accelerated Recovery and Investments Stimulus for the Economy (ARISE) and the P1.5-trillion Covid-19 Unemployment Reduction Economic Stimulus (CURES) Act of 2020.

However, Dominguez earlier said the government would incur a huge budget deficit from passing trillions of pesos in stimulus bills in Congress.

The Cabinet-level Development Budget Coordination Committee (DBCC) expects the country’s budget deficit to more than double to 9.6 percent of GDP or P1.815 trillion from 3.4 percent of GDP or P660.2 billion in 2019.

The DBCC also expects the economy to shrink by 4.5 percent to 6.6 percent this year, worse than its earlier projected contraction of 2 percent to 3.4 percent.

contracts may still fly out–Roque

R

By Samuel P. Medenilla

ETURNING overseas Filipino workers (OFWs), or those who flew in for breaks during the pandemic but need to travel back to host countries, will still be allowed to work abroad.

Presidential Spokesperson Harry Roque made the assurance on Thursday amid reports that the country will no longer allow the deployment of all OFWs, and that a number of nurses were

barred from flying out.

In an online press briefing, Roque reiterated the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) policy

is still allowing OFWs with existing employment contracts abroad to fly out in order to fulfill their commitments.

However, the IATF maintains its temporary deployment restriction for Filipino medical workers to ensure the country will have the available work force for its response to the novel coronavirus disease (Covid-19) pandemic.

This was in line with the Philippine Overseas Employment Administration (POEA) Governing Board Resolution (GBR) 9, Series of 2020.

Under GBR 9, the POEA will not allow the deployment of overseas Filipino workers with the

following occupations: medical doctors/physicians; nurses; microbiologists; medical technologists; clinical analysts; respiratory therapists; pharmacists; laboratory technician; radiologic technicians; nursing assistants/aides; operators of medical equipment; supervisors of health services and personal care; repairmen of medical-hospital equipment.

The measure will remain in effect until the national state of emergency due to Covid-19 is lifted.

Only health-care workers, who “perfected and have signed overseas employment contracts as of March 8, 2020,” will be exempted from the ban.

Duterte to get Bayanihan 2 for signing next week Continued from A1

Just like Bayanihan 1, the amount of P100,000 will still be allotted to health workers “severely affected,” and P1 million for the family if a health worker dies.

SAP for ECQ sites

IT also includes a “special amelioration program” specifically for those in enhanced community quarantine (ECQ) areas, with the

budget ranging from P13 billion to P16 billion.

Among those who would be provided with assistance are teachers and part-time teachers in private schools who were not included in Bayanihan 1.

Moreover, the bill provides for a 60-day moratorium for paying debts, including salary loans, business loans and insurance premium.

As for water and power bills, house rental or lease for business space, a 30-day reprieve will be provided for those in areas covered by ECQ and MECQ. According to Angara, Bayanihan 2 will be in effect until December 19, 2020, when Congress adjourns for its traditional yearend recess.

House ratifies on Aug. 24

THE House of Representatives will ratify on Monday the proposed P165-billion Bayanihan 2, according to Deputy Speaker Luis Raymund Villafuerte and Majority Leader Martin Romualdez.

“After three days of marathon sessions with our Senate counterparts, we finally approved the reconciled final version of the Bayanihan 2 or the Bayanihan to Recover As One Act this [Thursday] afternoon. The House will ratify on Monday and the Senate this afternoon,” Villafuerte said.

Romualdez said, “It [the bicam version of the bill] will be ratified immediately next week.”

Of the P165-billion stimulus fund, Deputy Majority Leader Wilter Wee Palma II said P140 billion is readily available for the government to spend, while the remaining P25 billion is a standby allocation.

The standby fund, to be made available once additional funds are generated from savings, will be allocated thus: P10 billion for Covid testing and procurement of medication and vaccine; P9 billion to support wholesale banking and equity infusion of the LBP for lowinterest loans and P6.5 billion to support wholesale banking and equity infusion of the DBP.

“Our job is to allocate. If and when the DOF [Department of Finance] finds funding for the P25 billion, then at least they already have a standby authority to spend for it,” he added.

According to the highlights of the bicameral committee meeting, lawmakers have agreed on the existence of continuing national emergency.

With this, the committee granted the President powers necessary to undertake Covid-19 response and recovery interventions.

Speaker Alan Peter Cayetano said the Bayanihan 2 seeks to allocate a total of P10.5 billion in various compensations for medical frontliners, including a special risk allowance not just for public healthcare workers (HCWs) but also for private HCWs treating Covid-19 patients.

The bicam committee also ap-

proved the mandatory testing of public and private health workers every 15 days. They also included new provision penalizing any person who discriminates against any person who has declared, confirmed, suspected or recovered from Covid-19.

Other highlights

THE Bayanihan 2 bill also provides financial relief to agrarian reform beneficiaries; payment of such interest, penalties and surcharges used for land acquisition shall be condoned, as proposed by Albay Rep. Joey Sarte Salceda.

Bayanihan 2 directs the LandBank of the Philippines and the Development Bank of the Philippines to introduce a lowinterest and/or flexible term loan program for operating expenses available to business affected by the pandemic to assist and encourage them and their creditors to continue investing in lending to and operating their businesses.

Priority shall be given to agri-fishery and non-essential businesses that are micro, small and medium enterprises but not limited to start-ups and cooperatives.

The bill also liberalizes the grant of incentives for the manufacture or importation of critical or needed equipment until June 25, 2020.

Not included

SALCEDA, however, said the final version does not yet include the Financial Institutions Strategic Transfer (FIST) and the Government Financial Institutions Unified Initiatives to Distressed Enterprises for Economic Recovery (GUIDE).

“These are also urgently needed, especially GUIDE, which will release more credit into the economy. The House version has these essential reforms, so we hope the Senate can have these bills passed soon so we can enact them,” he added.

Salceda is preparing a comprehensive proposal for credit uptake acceleration.

“Unless more people borrow, especially consumers, credit facilities will not translate into real sector improvements. We need more people to borrow, at a reasonable and manageable loss to the government if necessary,” he added.

With the passage of Bayanihan 2, Salceda said he hopes the Senate can live up to its commitment to pass the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act this month.

“The House is ready to ratify a good Senate version immediately, or go to bicam for a better version if it does not meet key principles. They promised the Filipino people that they will have a version passed before August ends.

We take note of that promise,” he added.

BSP stands back, keeps key rates untouched Continued from A1

For this year, it now expects inflation to hit 2.6 percent from the earlier projection of 2.3 percent. For next year, inflation is seen to hit 3 percent from the earlier forecast of 2.6 percent. For 2022, meanwhile, inflation projection was raised to 3.1 percent from 3 percent in earlier forecasts.

“While latest baseline forecasts have risen slightly due to the higher-thanexpected inflation in July and recent increases in global crude oil prices, the future inflation path remains firmly within the government’s 2-percent to 4-percent target. The balance of risks to the inflation outlook also leans toward the downside from 2020 until 2022 owing largely to potential disruptions to domestic and global economic activity amid the ongoing pandemic. Meanwhile, inflation expectations remain broadly consistent with the inflation target,” the BSP said.

As for economic growth, the BSP assessed that both the local and global economies will remain subdued and uncertain amid a resurgence in Covid-19 cases. Amid this, the BSP assured that the local economy still has “ample liquidity” in its financial system.

“Going forward, the BSP remains committed to deploying its full range of instruments as needed in fulfillment of its mandate to promote non-inflationary and sustainable growth over the medium term,” the BSP said.

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

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

This was supplemented by another 50-basis-point cut in an off-schedule MB meeting in April, and another 50-basispoint cut in June.

Hotels…

Continued from A1

continuing to operate posting an average of 58 percent of their rooms. “Some hotels extended additional discounts to BPO [business-process outsourcing] firms on top of corporate rates as a means of attracting more occupants…. Due to high discounts offered, some hotels were reported to operate even at a loss, only doing so out of altruism, especially for their employees and frontliners,” the report said.

Under GCQ, which began on June 1, the situation improved with 60 percent of hotels operating, up from only 43 percent during ECQ-MECQ. Some hotels—Go Hotels, Summit Hotels and Seda Hotels— “repurposed a portion of their facilities to long-stay rooms and work spaces.”

The report noted though, average hotel occupancy declined to 50 percent due to the departure of BPO employees who started working from home, with guests now composed of stranded and repatriated overseas Filipino workers.

The realtor noted that delays in completion dates of new hotels were caused by several factors such as the extended lockdowns, disruptions in the supply chain and new working guidelines in the construction sector. “Moreover, other challenges faced by the hospitality sector during the pandemic such as operational restrictions, travel bans and other uncertainties in the market, have forced some hotel operators to suspend their opening dates indefinitely. Other operators have pushed back their target completion to a later year,” the report said.

Leisure travel, especially by domestic tourists, will likely restart the industry.

The report recognizes, though, that this will depend on the quarantine status and travel restrictions imposed by local government units, and “subject to the discretion of the individual travelers” who have to weigh in the risks or safety of traveling for holidays.

“Likewise, demand for business travel will remain uncertain depending on the travel restrictions as well as the financial capabilities of the companies,” the report said.

“Recovery will be much slower in areas with stricter quarantine than MGCQ as only those employees from exempted establishments, such as government offices, are allowed to travel. Moreover, processing and securing of documents, such as travel passes, will take significant time and effort.”

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Associations can think like a futurist

‘T

he coronavirus pandemic has thrown all our future plans into disarray, and we still don’t know what’s around the corner in the next few weeks and months. In an uncertain future, many people fall into the trap of setting smaller goals or making short-term plans. But that’s the wrong approach. Instead of only planning for what you can see, use scenario planning as a tool for working with uncertainty and creating flexible plans.”

Reading this drew me to the webinar, “Think Like a Futurist,” organized by the Australasian Society of Association Executives (AuSAE). Like my organization the Philippine Council of Associations and Association Executives (PCAAE), the AuSAE is also a founding member of the Asia-Pacific Federation of Association Organizations (Apfao).

The featured speaker was Gihan Perera, a futurist, conference speaker, author and consultant, whose company bearing his name gives organization leaders a glimpse of what’s ahead and how they can become “fit for the future,” both in their professional and personal lives.

Futurists are those who attempt to systematically explore predictions and possibilities about the future and how they can emerge from the present.

To think like a futurist, Gihan presented, among others, three “Ps”—platform, plan, and perspective—aimed to tickle your imagination into thinking about

Association World Octavio Peralta ideas and future actions for your own association.

Platform is about your current organization’s strategic posture. In sequential order: Is it reactive, responsive, proactive or disruptive?

It is reactive if you aim to merely head off the crisis, responsive if you aim to recover, and proactive if you aim to grow. However, Gihan said you can also leapfrog from reactive to disruptive straight away and grow further.

He used the “workplace of the future” as an example. This will be WFH (work from home) if reactive, RTO (return to office) if responsive, WFA (work from anywhere) if proactive, and use of “fluid teams” if disruptive.

In a 2008 article, Deborah Mackin, founder of New Directions Consulting, defined “fluid teams” as “experts from disparate functions and geographies who must get a temporary project or task up and running, sometimes with completely different priorities, beliefs and values.”

Plan is about scenario planning.

For this, Gihan cited the “Pestle” analysis, which is a look at all important factors that might

affect the success or failure of your organization. “Pestle” is an acronym for political, economic, social, technological, legal and environment.

The current coronavirus pandemic was given as an example with the following scenarios that could evolve: eradicating the virus globally, eliminating the virus locally, finding a vaccine, finding treatment, and the virus becoming endemic.

In the end, Gihan said that the question to ask when planning is, “What problem do you solve?”

Perspective is about going deeper, wider, and further in your way of thinking.

One of the examples Gihan gave here was Emirates, the world’s first airline to provide free global cover for Covid-19 health expenses and quarantine costs whenever you fly with them. This talks about safety and peace of mind for the customer.

So, are you ready to think like a futurist?

The column contributor, Octavio “Bobby” Peralta, is concurrently the secretary-general of the Association of Development Financing Institutions in Asia and the Pacific and the Founder & CEO of the Philippine Council of Associations and Association Executives. PCAAE is holding the Associations Summit 8 on November 25 and 26, 2020 at the Philippine International Convention Center which is expected to draw over 200 association professionals here and abroad. The two-day event is supported

by Adfiap, the Tourism Promotions Board, and the PICC. E-mail inquiries@adfiap.org for more details on AS8.

Friday, August 21, 2020 A3

Peso bruised as investors follow Wall Street cue T

By Tyrone Jasper C. Piad

@Tyronepiad

he local currency weakened against the dollar on Thursday as investor sentiment turned sour, with traders taking cues from the sell-off in Wall Street.

RCBC Chief Economist Michael Ricafort said that the peso dipped “after some reduction in global market risk appetite amid the slight healthy profit-taking in most US stock markets from new record highs.”

Ricafort explained that the profittaking in Wall Street was triggered “after the Fed’s latest signals that the coronavirus would weigh heavily on the economy and the economic recovery would largely depend on the containment of Covid-19.”

The RCBC economist shared that the delay in the proposed new US stimulus package also weighed on

market sentiment.

On the local front, Ricafort said the traders were on the lookout for the policy decision of the Bangko Sentral ng Pilipinas on Thursday.

“Peso also partly weighed as PSEi [Philippine Stock Exchange index] corrected lower to new 1-week lows, but still above the 6,000-mark; still near 1-month highs,” he added. The PSEi dipped by 0.61 percent to 6,005.40.

Ricafort said that further reopening of the local economy could boost sentiment as this can lead to more economic activities and better recovery. Metro Manila and nearby

RICAFORT

areas were placed once again under general community quarantine on August 19-31 after being subjected to modified enhanced community quarantine as Covid-19 cases rose.

The peso ended at P48.68 against the greenback, which is weaker by around 11 centavos than the previous day’s closing of P48.575.

It opened at P48.61 and traded as high as P48.71 and as low as P48.61.

The peso traded at P48.654 on average during the session.

The amount of dollars traded dipped slightly at $788.66 million from $794.5 million the previous day. Nonetheless, the recent close was still among the strongest in nearly four years, Ricafort said.

News

BusinessMirror

A4 Friday, August 21, 2020 • Editor: Vittorio V. Vitug

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Dar authorizes REDs to issue CFS in transport of live hogs

S

By Jasper Emmanuel Y. Arcalas

@jearcalas

ECRETARY William D. Dar has authorized Department of Agriculture (DA) regional executive directors (REDs) to issue certificates of free status on African swine fever (ASF) for the transport of live pigs to avert disruption in domestic trade.

Dar issued Memorandum Order (MO) 4, which authorized DA regional field office REDs to issue, or approve, certificate of free status on African swine fever on live pigs traded locally.

“In order to avoid delays and inconvenience to stakeholders, the DA regional field office regional executive directors are hereby authorized

to issue/approve Certificate of Free Status on African swine fever [CFSASF] as a requirement for the local transport of live pigs,” he said in the document dated August 17.

The certification ensures that live pigs being transported and traded locally are free from the fatal hog disease. ASF virus could spread through transport of sick, or infected pigs.

“The processing and issuance of the CFS-ASF under this authority shall be in accordance with the existing laws, rules and regulations,” Dar said.

Dar said the MO was pursuant to DA Administrative Order 22, which directed all government agencies and local government units to strictly implement and comply with the National Zoning and Movement Plan for ASF. The MO took effect immediately and would be fully enforced until revoked by Dar, according to the document.

Based on latest data disclosed by the DA, the government has culled 316,637 pigs to address and contain the spread of ASF in the country.

Based on the DA’s report, ASF has affected 1,119 barangays in 262 municipalities/cities in 28 provinces across nine regions in the country.

The country’s hog output in the first half declined by 2.5 percent to 1.118 million metric tons, from 1.147 MMT recorded volume in the

same period of last year, Philippine Statistics Authority (PSA) data showed.

The DA has been ramping up its measures against ASF capped by its P6.4-million investment in a state university research that seeks to provide vital information in developing vaccines against animal diseases such as ASF and bird flu.

In a news statement, the DA said it has signed a memorandum of agreement with the Pampanga State Agricultural University (PSAU) to provide the agri-fishery sector with access to cutting-edge technologies in accurately detecting and effectively addressing emerging animal diseases.

“The launch of this project is both timely and relevant, as it marks a new milestone in our efforts to boost our capacity to accurately detect and effectively manage emerging animal diseases, including that of transboundary diseases, here in Central Luzon and nearby regions,” Dar said during the MOA signing last August 8.

Gold and nickel reserves rise on back of higher appraisals

T

HE country’s total gold reserves in 2018 slightly rose to 4.89 million kilograms, from 4.85 million kg in 2013, on the back of higher reappraisals, according to the Philippine Statistics Authority (PSA).

“This increase is mainly attributed to reappraisals recorded during the period, with a net total of more than 130,000 kg,” it said in its report on Thursday.

The PSA defines reappraisals as changes in the “measured stock of assets due to the use of updated information that permits a reassessment of the size of the stock.”

PSA data showed that from 2013 to 2018, gold upward reappraisals reached 147,445.15 kilograms as against a six-year downward reappraisal of 12,572.154 kilograms.

In 2018 alone, gold reserves had an upward reappraisal of 27,356 kilograms versus a 5-kilogram downward reappraisal, PSA data showed.

PSA data showed that more than half, or about 62.8 percent, of the country’s gold reserves are Class C, which are minerals that are for non-commercial use and other known deposits.

PSA data also showed that about a fifth of the country’s gold reserves, or about 1.217 million kilograms, are

Class B (potentially commercially recoverable resources), while the remaining 591,192 kilograms were Class A, which are commercially recoverable resources.

The average gold extraction, or production, from 2016 to 2018 was close to 20,000 kilograms, PSA data showed.

The country’s total nickel reserves in 2018 increased by 1.5 percent to a six-year high of 2.05 billion metric tons from 2.02 billion MT in 2013, based on PSA data.

“This increase is mainly attributed to reappraisals recorded during the period, with a net total of more than 158 million MT,” it said.

“Nickel extraction was stable during the period, ranging from 25 to 35 million MT, with the highest recorded in 2014,” it added.

About 51.5 percent, or around 1.027 billion MT of the country’s nickel reserves, were Class C, while 929.322 million were classified as Class A, according to PSA. The remaining volume of 38.053 million were Class B nickel reserves, PSA data showed.

“Class A reserves, or the portion of the total reserves which is commercially recoverable, saw a decrease from 1.03 billion MT in 2013 to 0.95 billion MT in 2018,” it said. Jasper Emmanuel Y. Arcalas

Families of 14 Pinoys in Mindoro House bill upholding right to peaceful assembly hurdles committee approval ship ‘collision’ to get ₧1M each

By Rene Acosta

Wood and FV Liberty 5 will hold a formal settlement for the damages caused by the sea collision in the vicinity waters off Mamburao, Occidental Mindoro, on 27 June 2020 at the PCG National Headquarters, Port Area, Manila,” the Coast Guard said.

“On Monday, the family members of the 12 missing Filipino fishermen and two other passengers of FV Liberty 5 will receive compensations amounting to P1 million each from MV Vienna Wood,” it added.

Aside from the families of the missing crewmen and passengers, the Irma Fishing and Trading Inc., owner of FV Liberty 5, will receive a settlement amount of P40 million from Vienna Wood to “cover the cost of the distressed fishing vessel.”

The Coast Guard said the settlement was agreed upon by both sides.

The Liberty 5 was on its way to the Navotas Fish Port in Metro Manila when

@reneacostaBM

T

HE families of the 12 missing crewmen and two passengers of FV Liberty 5, which sank in the waters of Occidental Mindoro more than a month ago following a “collision” with a Hong Kong-flagged carrier vessel have agreed for a monetary settlement, the Philippine Coast Guard reported Thursday.

Coast Guard Commandant Admiral George Ursabia Jr. said family members have agreed for a P1-million settlement for each of the crewmen and passengers of the local fishing boat, which sank in June in the waters of Mamburao, Occidental Mindoro, after colliding with the Australia-bound MV Vienna Wood.

“Philippine Coast Guard [PCG] Commandant, Admiral George V. Ursabia Jr. announced that on Monday, 24 August 2020, the stakeholders of MV Vienna

it was “struck” by the Vienna Wood, which came from Subic Bay and was on its way to Australia. The foreign vessel, manned by Chinese crewmen, is owned by Nomikos Transworld Maritime.

All of the crewmen and the two passengers of the local fishing vessel have not been recovered as their families filed charges against the owner of Vienna Wood and the crewmen of the vessel.

Last month, a local court in Mamburao granted the petition of the Coast Guard to issue a hold departure order against the top officers of Vienna Wood.

The order was issued by Judge Ulysses Delgado of Regional Trial Court, Branch 44 in relation to the criminal charges of reckless imprudence resulting in multiple homicide and damage to property filed against Nomikos; ship Captain Zhang Wei Wei; third officer Shi Bin; chief officer Yang Xifeng and second officer Yi Lie.

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HE House Committee on People’s Participation has recently approved the proposed “New Public Assembly Act” to strengthen the right of the people to free expression.

San Jose del Monte City Rep. Florida Robes, panel chairman, said members of the committee approved the substitute bill to House Bill 6297, or the New Public Assembly Act filed by the Makabayan bloc.

Robes stressed that both sides of the political spectrum want the same output, which is to strengthen the fundamental freedoms to free speech and peaceably assemble but, at the same time, protect the lives of those who join mass gatherings. “[But] as a mother, I don’t want my children wandering the streets and participating in rallies for their safety,” she said.

The lawmaker said her committee awaits the final recommendations of the Commission on Human Rights with regard the regulation of the participation of minors in rallies.

“With political will, it is evident that even

the opposite sides of the pole can reach a compromise,” said the lawmaker.

The key provision of the bill includes the filing of a notice of public assembly to the office of the mayor to ensure peace and order. Failure to do so may mean sanctions to the organizers, such as public censure, fines and arresto menor.

Bayan Muna Rep. Carlos Isagani Zarate said many protest rallies would have been otherwise peaceful were it not for their violent dispersal by state security forces, particularly the police.

“Every year, the persisting trend has been the police disruption of rallies that should have radically ebbed following the ouster of the Marcos dictatorship,” he said.

The bill seeks to repeal Batasang Pambansa 880, which, he said, “has become excuse by state forces to suppress otherwise peaceful demonstrations.”

The measure also seeks to ensure the exercise of civil rights without unnecessary and unreasonable impediments. Jovee Marie N. Dela Cruz

ADB’s culture is changing but not fast enough, evaluation report says Trader nabbed for allegedly polluting

By Cai U. Ordinario

@caiordinario

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HE Covid-19 pandemic would require the Asian Development Bank (ADB) to boost its efforts in providing knowledge products which are needed by the region at this time, according to its Independent Evaluation Department (IED).

In its Knowledge Solutions for Development: An Evaluation of ADB’s Readiness for Strategy 2030, the IED said ADBs developing member-countries (DMCs), including the Philippines, appreciated the knowledge solutions provided by ADB. IED said DMCs are looking for more integrated and sophisticated solutions than in the past. Providing this knowledge can become ADB’s comparative advantage.

“ADB’s comparative advantage in financing is diminishing and it must provide more value addition through knowledge solutions.

While ADB is strongly committed to its knowledge goals, it faces structural, infrastructural, and cultural constraints. To meet the region’s changing needs, ADB must change how it operates—becoming less siloed, less hierarchical, and

more teamwork-based,” said IED Director Walter Kolkma. “Although ADB’s culture is changing, it is not changing fast enough,” he added.

The evaluation report, IED said, found institutional issues that constrain ADB’s endeavor of becoming more of a knowledge solutions institution.

The department found that ADB operated with “strong silos within and between its operational and geographical departments” which prevent the flow of knowledge. IED noted that the internal competition for resources can also limit regional collaboration and teamwork.

The IED also noted ADB’s consensus-based and risk-averse culture and focus on the fast preparation of infrastructure projects, limited the investigation, debate, and innovation needed for integrated knowledge solutions.

“Absence of a system to capture, codify, and store knowledge means most of its tacit knowledge remains undocumented,” IED said.

IED said the pandemic highlighted the interconnectedness of the development challenges faced by DMCs, which now stress the need for partners to provide knowledge support, as well as innovative programs for

the years ahead.

The challenges faced by countries and by the region reveal that urbanization, pollution, environmental degradation, food security, regional health, and inequality, are all interlinked while all economies need to deal with rapidly changing production processes.

IED said ADB’s leadership is committed to expand the role of integrated knowledge solutions throughout its operations. This has already begun with recent investments in information technology.

“The unprecedented crisis the world is experiencing with Covid-19 highlights the need for innovative and knowledge-based solutions to such complexity. ADB is first and foremost a development bank but its continued relevance will also depend on its role as a knowledge institution that can provide adaptive knowledge solutions to the region,” ADB’s Director General for Independent Evaluation Marvin Taylor-Dormond said.

IED said should ADB decide to provide more knowledge solutions to complement its financing support for DMCs, IED said there is a need to make deep reforms that could entail costs.

Batangas river with toxic chemicals

By Jonathan L. Mayuga

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@jonlmayuga

TRADER engaged in buying and selling of used chemical containers is facing criminal charges for allegedly dumping toxic chemicals into a river in Tuy, Batangas, last Wednesday.

Department of Environment and Natural Resources (DENR) Undersecretary Benny D. Antiporda said 46-year-old Romano Cabrera is now facing charges for alleged violation of Republic Act 6969, or Toxic Substances and Hazardous and Nuclear Wastes Control Act of 1990, and Republic Act 9275 or the Clean Water Act of 2004.

Antiporda, who heads DENR’s Solid Waste Management and Local Government Unit Concerns, told reporters via Viber that Cabrera is also facing charges for conducting business without the necessary permits from LGU office.

An initial investigation report alleged that Cabrera was dumping toxic wastes into a river in Barangay Bayudbud where

he was washing foul-smelling drums.

Residents of Barangay Bayudbud and nearby Barangay Sabang, however, complained of the foul smell and fish mortality caused by Cabrera’s frequent drum washing and reported these to the authorities, leading to the trader’s arrest.

Antiporda said Cabrera’s washing of his drums may have caused fish in the river to die and float.

Police reportedly recovered from Cabrera 16 drums containing still unknown chemicals.

According to Antiporda, Cabrera appears to have bought the containers, which he may have intended to sell after washing and cleaning. “The damage he did for the environment is serious. Naglutangan ang mga igat at hito sa ilog,” the DENR official said.

Antiporda said a team from the DENREnvironment Management Bureau Calabarzon Office has been dispatched in the area to conduct further investigation to the extent of damage caused by Cabrera.

DFA reminds passport applicants to get appointment prior to Aseana, CO visit

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HE Department of Foreign Affairs (DFA) Office of Consular Affairs (OCA) announced on Thursday that passport applicants are required to secure an appointment prior to visiting DFA Aseana, or any Consular Office (CO).

Applicants were advised to visit https://passport.gov.ph to set

an appointment.

Those are entitled to use the Courtesy Lane (CL) services at DFA Aseana may make their appointment by e-mail to oca.cl@dfa.gov.ph, or online at http://passport.gov.ph.

For CL services at other COs, applicants may e-mail the CO directly. DFA advises to check the

CO Directory at https://consular. dfa.gov.ph/directory#COS. In view of the current health crisis, DFA said only those who have booked appointments through https://passport.gov.ph/ and those who received confirmation from oca.cl@dfa.gov. ph will be allowed entry to DFA Aseana in Parañaque City on their

appointment date.

A copy of the appointment confirmation will be required to enter the premises.

In compliance with protocols issued by the Department of Health to all workplaces, DFA said only a limited number of applicants can be physically accommodated in the COs.

The DFA is also implementing health standards and protocols, which include basic precautionary measures such as physical distancing, wearing of masks and face shields, and temperature checks to ensure the safety of all applicants and attending personnel and service staff.

The DFA also reminded the public of possible logistical limitations due to community quarantines in certain areas nationwide and to expect some delays in the production, delivery, and availability of passports.

Passport applicants were also advised to prepare contingencies for their travel plans. Recto Mercene

World Friday, August 21, 2020

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Wildfires and pandemic converge on California in multiplying crises

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alifornians are in their sixth month of sheltering in place because of a pandemic that’s killed more than 11,000 residents.

Now a new crisis—hundreds of wildfires—is forcing people to prepare to flee their homes at a moment’s notice.

“This really is unprecedented,”said Bela Matyas, health officer of Northern California’s Solano County, where thousands of residents of Vacaville were forced to evacuate as fires crept toward the city. “We need people ideally to be able to stay in their homes and not be socializing with people, not be congregating.”

In a state known for its disasters, multiple crises are converging at once. After a summer of soaring coronavirus cases and scaled-back reopenings, Californians have been gripped by record-setting heat that strained its power grid and led to rolling blackouts for the first time since the 2000-2001 energy crisis. Then came wildfires, many of them caused by lightning strikes in the extreme weather.

Vacaville is only one of the cities with evacuations. Thousands of residents in Napa and Sonoma counties north of San Francisco, and Santa Cruz and San Mateo counties to the south, have had to leave their homes as fires tear through the region. Smoke has blanketed the Bay Area, with San Franciscans finding cars covered in ash and a city that smelled like a campfire. Near Los Angeles, a blaze known as the Lake Fire has burned nearly 26,000 acres since last week.

By Wednesday afternoon, there were 367 known fires burning in the state, Governor Gavin Newsom said at a press briefing. Of those, 23 were known as complex fires.

“We are experiencing fires the likes of which we haven’t seen in many, many years,” Newsom said.

The state did get some good news over the past few days as it was spared from more of the rolling blackouts, and cooler weather is expected on Thursday.

Still, California faces a “risk of resource insufficiency,” on August 24, according to a letter to Newsom sent by agencies including the power grid operator.

While heat waves, wildfires and blackouts are nothing new for California, all of that going on during a pandemic is uncharted territory. Huddling fire-evacuees and those looking for relief from the heat and power outages isn’t a great option in the age of Covid-19.

In Solano County—home of the first confirmed US coronavirus infection from community spread—the fires are forcing people out of the home and into evacuation or cooling centers, hotels or with family or friends, Matyas said. That type of congregation is exactly what’s recently pushed California into “substantially elevated rates of Covid,” he said. The state is nearing 640,000 cases of the virus, the most in the US. Not only are the fires forcing people to gather, but the smoke is causing more people to cough, potentially spreading the virus easier. The fact that Covid-19 is a respiratory virus only makes matters worse because smoke may weaken the lungs, Matyas said. He expects places affected by extreme heat, blackouts and wildfire evacuations may very well see increased levels of Covid-19 as a result.

Another troubling sign is that California is early in its wildfire season, which tends to intensify in the fall as dry weather persists and winds pick up.

The state has already had 6,754 known fires this year, compared with 4,007 at the same time last year, Newsom said Wednesday.

“This makes me very nervous for our September, October and November,” said Michael Wara, director of the Climate and Energy Policy Program at Stanford University. “What we just experienced in terms of lightning strikes is unprecedented, particularly in August. I don’t know what to make of it.”

In Napa, Sonoma and Solano counties, the fire known as the LNU Lightning Complex grew to 124,000 acres by 7 p.m. local time on Wednesday and threatened 25,000 structures.

The areas of wine country had been a popular place of refuge for many San Francisco residents as the pandemic forced everyone indoors, leading people to seek more space. Michael Fanelli, a real estate agent with Sotheby’s in Sonoma County’s Healdsburg, said the period from the beginning of April to the end of June was the busiest he’d ever been in his more than two-decade career. He’s already getting asked by clients about the blazes and is worried by how early the season is starting this year.

“Everybody I know has had their insurance jacked up,” he said. “That’s one thing that’s likely to be impacted.”

For San Francisco, the bigger issue is the quality of the air, prompting new pleas from health officials to stay at home.

“We continue to live in unprecedented times and air quality is another challenge that we need to address as a city,” Grant Colfax, San Francisco’s director of health, said during a press conference on Wednesday with Mayor London Breed. “We will be living with the intersection of Covid-19, poor air quality and likely heat events for some time.”

Bloomberg News

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Friday, August 21, 2020 • Editor: Angel R. Calso

Opinion

BusinessMirror

www.businessmirror.com.ph

editorial

China’s pyrrhic Hong Kong victory

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pyrrhic victory is a victory that inflicts such a devastating toll on the victor that it is tantamount to defeat.” The phrase originates from a quote from Pyrrhus of Epirus, whose triumph against the Romans in the Battle of Asculum in 279 BC destroyed much of his forces.

Since Hong Kong was transferred to China in 1997 after 156 years of British rule, it has always been treated as a special case. The “One Country; Two Systems” was used to great advantage by everyone.

Foreign companies could do business with corrupt private and public sector entities in the mainland without getting their hands dirty. Chinese companies could remove money from the Chinese economy with little fear of being caught. It was easy for the Beijing government to monitor this money laundering and take advantage of it too. And when they wanted to clamp down, it was easily done.

Remember when the government basically shut down funds flowing through the Macau casinos?

Hong Kong has always been the largest source of Foreign Direct Investment into China, accounting for 47 percent of all FDI to the mainland. Likewise, China accounted for 26 percent of all FDI into Hong Kong. Geopolitics could be hidden too. Vietnam’s leading source of FDI in 2019 was from Hong Kong. That was fine since everyone accepted the “fact” that Hong Kong was not part of “China.” Hong Kong has been separate from China.

But Hong Kong has been an integral part of China for more than 2,000 years since the Qin dynasty in 214 BCE. Beijing has made it clear through its new laws, statements, and actions that it wants Hong Kong to be considered completely part of China.

The Beijing government would like the world to believe—primarily through its global apologists—that everything is about Trump and US fighting with China.

In July, China accused the US of using “gangster logic” after President Trump directed an end to Hong Kong’s special economic treatment. This week, the US formally halted its extradition treaty with Hong Kong.

Further, the US State Department announced that this was part of a total of three US bilateral agreements with Hong Kong being permanently dropped. “These agreements covered the surrender of fugitive offenders, the transfer of sentenced persons, and reciprocal tax exemptions on income derived from the international operation of ships,” a State Department spokeswoman said.

Australia, Canada, New Zealand, Germany, France and Britain did the same earlier. A month ago, the UK government unveiled the conditions under which almost 3 million Hong Kong residents will be able to start on a path to UK citizenship. Hong Kong’s British National (Overseas) passport holders and their immediate dependants will have the right to apply for a special UK visa from January.

President Donald Trump issued an executive order on July 14, which deemed Hong Kong “no longer sufficiently autonomous to justify differential treatment in relation to the People’s Republic of China.” Isn’t that the status that China wants for Hong Kong, to be considered wholly a part of China?

Xi Jinping is between a rock and a hard place with the fear of a call in Hong Kong for secession and cannot allow talk of genuine independence. But Xi may have to lose the advantage of a separate Hong Kong to gain that objective.

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Leaving big cities–Part of the new normal?

Sonny M. Angara

Better Days

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young couple in London was interviewed in a recent CNN Business article about their decision to move out of the city— something unheard of practically a few months back. As the article explains, many people have tolerated the smaller living spaces combined with the noise and pollution, in exchange for the vibrant culture and lifestyle that London provides. But the Covid-19 pandemic has restricted exactly those things, with many social activities and businesses limited in capacity. Hence, such an upheaval has prompted many city dwellers to consider living elsewhere.

In New York City, a comparable urban exodus appears to be taking place, according to a New York Times article. Instead of the lack of culture and an active lifestyle, young couples in New York talked about how unemployment and subsequent lack of opportunities brought about by shuttered businesses have made the Big Apple lose much of its luster. As the article puts it, moving trucks lining the streets have become a common sight across many blocks of Lower Manhattan.

Will something similar happen in the Philippines? According to a May 2020 market outlook by online real estate marketplace Lamudi, more from Metro Manila were in-

quiring about properties outside of major urban areas and central business districts (CBDs). Before the enhanced community quarantine (ECQ) was implemented, only 25 percent of survey respondents were interested in non-CBD areas.

This has since jumped to 83 percent in May, where 50 percent were exclusively searching for non-CBD properties. And the top 3 mostsearched provinces were Batangas, Bulacan, and Cavite.

This uptake in property inquires outside of Metro Manila could be pointing indirectly to how the Covid-19 pandemic has made city life even more difficult and untenable.

The demands of social distancing and

It’s time to be more generous

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self-quarantines could be pushing NCR residents to move out into the provinces—or at least give it some serious thought.

Indeed, the pandemic has laid bare many things in our country that need improvement or rethinking. And among these include the long-standing imperatives to decongest our urban spaces, develop the countryside, and stimulate economic activity across a bigger swath of the country. We could achieve these goals faster if we entice and enable more of our people to work online and get into digital careers.

As the articles above mentioned, people are leaving the big cities, relocating to nearby provincial areas or returning to hometowns in part because of the advent of work-fromhome jobs. A majority, if not all, of these WFH jobs are enabled by the Internet, and require that people have digital skills.

This is exactly why the National Digital Careers Act or SB 1469 which we filed needs to be passed and enacted as soon possible. The NDCA bill outlines what educational, upskilling and reskilling programs we need to get our people ready to take on digital careers, as well as what legal documentation should be in place to protect them as digital workers.

There is of course the issue of Internet connectivity that still needs to be addressed. So, as Chairman of

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rothers and sisters, since the beginning of the community quarantine in the country, brought about by the Covid-19 pandemic, we have heard numerous times the words “mas maraming mamamatay sa gutom kaysa sa Covid” (“more people would die from hunger than from Covid”).

This is not a delusion. Millions of Filipinos have been denied opportunities to work and lost chances to provide enough food for their families. Even before the country felt the effects of the pandemic, we have been affected by suffering, loss of jobs, and hunger. Unfortunately, the steps the government took to stop the spread of Covid-19 have worsened these problems.

According to a report by the international NGO Oxfam, it is possible that more people will die from hunger than from Covid-19. Now that we’re in the middle of a pandemic, our economy is experiencing what we call a “recession” after our country’s gross domestic product

or GDP went down to 16.5% in the second quarter of the year. This caused a halt in many businesses and loss of jobs. From the Philippine Institute of Development Studies or PIDS, the number of people trapped in poverty may increase by 1.5 million this year. Many of them consist of daily wage earners. And without money, there wouldn’t be anything to spend for food. Thus, hunger is inevitable. In the survey results released by the Social Weather Stations in the past month, over five million Filipinos are experiencing hunger because of the lack of food amid the Covid-19 crisis. Truly, this pandemic has pulled our fellowmen who were already poor into the brink

of destitution.

The pandemic has also illuminated the inequality in society. On one hand, there are a few homes that are comfortable because they can work from home and continue getting paid. Those with cars can go to markets and stock up on food that could last for months. Others can have their food, medicine, and groceries delivered with the use of their smartphones.

On the other hand, many of our fellow Filipinos are desperately queuing for financial assistance and food; some are forced to beg in the streets; and many farmers suffer from the difficulty of bringing their goods to markets. Some people have no choice but to walk for miles just to get to work. Our economic situation worsened because of government’s missteps in addressing the needs of the poor amid this pandemic. As people can’t go to work—or were retrenched—many will not be spared from the claws of poverty. The next steps and policies the government will take must prioritize the welfare of the poor.

One of the basic principles of the Catholic social teaching is what we call preferential option for the poor.

It is a challenge for all of us, especially for Christians, to act with compas-

the Senate Committee on Finance, we aim to ensure that in the coming years, the government will invest more and act more decisively toward fulfilling its mandate to deliver Internet connectivity to more citizens and finally bridge the so-called digital divide.

I have always believed that we should build up our digital infrastructure across the country, in every nook and cranny and not just in major cities. Because in doing so, more of our people will have the opportunity to work as digital workers from the comforts of their own homes, wherever that is. That, in turn, could help us decongest overpopulated areas like the National Capital Region.

If more of our people are looking to leave Metro Manila and other major urban areas like Cebu or Davao City, then we as a country should look into supporting “remote work” arrangements such as WFH. We should be enticing more people to take on digital careers, while making sure that we take decisive steps to improve connectivity all over the country.

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

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

sion for the poor, not because they are special, but because they are victims of injustice in our society.

We can practice compassion, for example, by becoming the voices of those who aren’t heard at all. We can also live a modest life and try to help those in need. Of course, we can help scrutinize laws and policies that affect our brothers and sisters who are neglected and denied opportunities to live with dignity. As Christians, it is our duty to address the needs of all our neighbors, but those who live in great suffering are the ones more in need of help.

Brothers and sisters, we as followers of Christ are reminded that part of our faith in God is to look after the welfare of the hungry and the poor. In the book of Isaias, “Is it not to share your food with the hungry and to provide the poor wanderer with shelter—when you see the naked, to clothe them, and not to turn away from your own flesh and blood?” This is our calling—to become generous to all our neighbors.

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

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Friday, August 21, 2020

Good health outcomes A plea against the new normal vs good economic outcomes: A false choice Tito Genova Valiente annotations

Randy Tuaño

EAGLE WATCH

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N the past few weeks, there have been a public debate on whether the quarantine restrictions in the Metro Manila and the surrounding regions, while good for keeping the number of Covid infections and deaths down, have restricted economic activity and worsened the downturn in income growth and therefore adversely affected employment and household welfare.

The decision to lift last Wednesday the modified extended community quarantine imposed in Metro Manila has been regarded as a means of “reviving a battered economy” or “to restart a plunging economy” or “boost a tanking economy.” At the same time, the decision to impose additional health and safety protocols in urban areas have been said to result in “grimmer economic prospects” or even “triggering an economic crisis.”

What many people, including those in government, do not clearly understand is that controlling the pandemic is key to sustainable economic growth.

While undertaking lockdowns and reducing the contact people have with others in public spaces, including restaurants, shops, offices and sporting and entertainment events may reduce the spread of the pandemic, the consequent changes in economic and social life are ultimately inefficient, as those isolated are not only the infected but also everyone in general. This increases joblessness and lack of work, the loss of income, and other attendant social issues.

At the same time, lifting lockdowns without vigorously strengthening public health institutions only allows the pandemic to return with full force. Therefore, the most viable choice for countries would be to strengthen the capacity of health and social institutions to arrest the spread of the pandemic, so that business activity can reach as close to the pre-pandemic period as possible.

The 2020 Sustainable Development Report, published by the Sustainable Development Solutions Network, a global organization of universities and research institutions, shows that countries with poor leadership, which generally are led by populist or dictatorial governments and would likely dismiss scientific evidence and therefore respond weakly to the health crisis, tend to do poorly also in terms of economic outcomes. Their failure to effectively respond to the crisis sets back the medium and longer-term revival of tourism, and business and trade activities.

The Report also provides a novel way to measure the extent of control of the Covid-19 pandemic across developed countries using mainly three indicators—mortality rate (as measured by the number of Covid-related deaths per million), effective reproduction rate (defined as the average number of infections that an infected person transmits to susceptible individuals) and another measure called the “epidemic control efficiency,” which compares the reduction in the number of new infections with the average number of contacts that a person has.

Epidemic control measures, the last variable, is assumed to be more “efficient” if the reduction in infections is due to the lower rate of probability of contact made by an infectious person and also is due to the decline in the number of days that an infectious person is circulating in the community. In effect this is saying that epidemic control measures such as improved personal hygiene and early isolation or quarantine in public facilities that can be undertaken through contact tracing and others are better, compared to implementing widespread lockdowns, as the former has less adverse effects on the movement of people and therefore on economic activity.

Using data from the Organization of Economic Cooperation and Development (OECD), a grouping of the most developed economies around the world, and from other sources, the range of the Report’s “Covid Index” can be as high from 0.90 (in South Korea) to as low as 0.39 (in Spain). Unfortunately, only data on the stated indicators are available for advanced countries. South Korea ranks highly due to its high-quality public health system, the quick response of Korean biotechnology firms to produce effective tests and the ability of government and the private sector to effectively utilize technology to develop contract-tracing apps, developing distance-learning tools and communication tools for emergency notices.

Comparing the Covid index and the second quarter 2020 gross domestic product growth rates of rich countries that were already able to report these figures show a high degree of correlation between the effective response to the pandemic and the change in economic activity. South Korea, with the highest Covid index, has been least affected by the pandemic in economic terms with a negative 0.3 percent growth rate. On the other hand, Belgium and Spain, which ranks the lowest in the index, have some of the worst economic growth rates in the April to June 2020 period.

Country Covid index1

South Korea Czech Republic Austria Germany Canada Portugal USA Italy France United Kingdom Belgium Spain

0.90 0.70 0.68 0.64 0.56 0.55 0.51 0.49 0.46 0.43 0.40 0.39

Second quarter 2020 GDP growth rate2 (in percent) -0.3 -10.7 -13.3 -11.7 -13.5 -16.5 -9.5 -17.3 -19.0 -9.5 -14.5 -22.1

Clearly, what the evidence shows is that countries have a clearer alternative rather than the false dilemma of economy versus health. And that preference should be toward responding smarter and more effectively to the public health crisis, which would allow us to economically recover at a much faster rate. The question is whether we have the national leadership that will direct us in this preferred choice.

(Endnotes) 1 From Table 1 of the 20202 Sustainable Development Report.

2 From the OECD Statistics quarterly national accounts site https://stats. oecd.org/index.aspx?queryid=33940 Randy Tuaño is associate professor and chair of the Economics Department, Ateneo de Manila University, and country manager of the Sustainable Development Solutions Network Philippines.

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N the 70s, there was a book that people lug around because it was “hip” and “cool” to do so. This book was called Future Shock and the reading public would have that or Kahlil Gibran’s The Prophet or Richard Bach’s Jonathan Livingston Seagull. While the last two books were about self-actualization and connection, Alvin Toffler’s Future Shock touched on disconnection as caused by rapid changes in society.

Toffler in that book discussed about human societies moving from industrial society to post-industrial society. We have long ago passed that age; we are, in fact, now in the middle of the knowledge society—moving faster to a world that was never directly named. We are in a new society whose formation is caused by a virus.

Where in ancient histories we had the B.C. and A.D. those period have shifted to an Age marked by an affliction. Are we in Covid-19 era or are we nearing post-Covid civilization?

The future that was expected to shock human societies is here and now.

Are we shocked with what is happening presently? It depends. If you are in higher learning, then you must have either heard or embraced already the new normal. The dominant discourse does not question the present situation; in fact, learning institutions can be appraised highly or lowly by the degree they have embraced or critiqued the new dispensation classified as the new normal. The post-Eden?

It is interesting how educational institutions noted for being one of the slowest institutions to adapt to the new environment are quick to migrate to the conditions offered or allowed in the new normal. For many, the adaptation is simplistic: deliver the lessons through the Internet, by way of computers, tablets or mobile phones.

Connection is the new mantra; the theology is interconnectivity.

The sins available are committed through slow connection; the most

mortal of afflictions is disconnection or unavailability of technologies to link up to a central Heaven. To have a unity of discourse, think of teachers as Angels and the hindrance to connectivity as the new Devil.

Purgatory—that halfway house to redemption then but now ideated as learning—is for those who have flawed connectivity.

I can go on and on with these metaphors. I am even tempted to recalibrate now the meaning of the fall of man as the fall of learners.

But I am getting carried away with my hopelessly human metaphors.

The fact is in this new enforced theology, there are gaps or fissures.

There are those that, by destiny engendered by lack of wealth and resources, cannot be part of this new mode of learning—or salvation?

What about those that, by economics, cannot be integrated (evangelized?) into the new learning?

Allow me to be carried away by my technological/theological trope: in the distribution of material resources, there are those that cannot participate in salvation. They are not poor in spirit, but they are poor in resources. This is the sector of public education.

Look, where these public institutions are now. They are in the midst not in being part of the technologies but in separating from these tools.

Wealth enters the picture: gold and other resources being not available, other peripheral (for they are not central) seats of learning and wisdom are harnessed.

Behold therefore teachers—some

are crouched on the floor—arranging modules that are going to be introduced to their students. If you are bound to help schools preparing these learning modules, then you become part of the new redeemers.

These are individuals ready to save the educational system of the island.

“A-4” is the potent word that opens the Cave—that is the size of the paper on which modules or guides to lessons or learning are printed. See, redemption can be earthbound, a firm take on the old existentialism.

In the meantime, higher seats of learning or those academies that can charge more are gearing to creating a different approach to education. Gone is the Peripatos— the philosopher/teacher who roams or is peripatetic. Welcome to the new world where the pupil would not even know where the teacher is. The only assurance, if that is needed, is that teachers shall remain earthbound.

When Alvin Toffler released his book, people did not really feel the shock. Reading the book was “hip”.

The ideas that floated out of that book were seen as dire predictions.

Listen to what Toffler said: “By instructing students how to learn, unlearn and relearn, a powerful new dimension can be added to education.”

Toffler then quotes Herbert Gerjuoy, a psychologist: “The new education must teach the individual how to classify and reclassify information, how to evaluate its veracity, how to change categories when necessary, how to move from the concrete to the abstract and back, how to look at problems from a new direction— how to teach himself. Tomorrow’s illiterate will not be the man who can’t read; he will be the man who has not learned how to learn.”

Are these claims still true, or have we been driven out of the Garden and now are insanely looking at the million prospects of saving ourselves from Knowledge?

Don’t we just miss the old classroom, and the classic excuse letter when we got sick? Or the urge to step out of the classroom because the professor was didactic and a dictator? I guess, this is what prophets called “outside the Garden.”

E-mail: titovaliente@yahoo.com

An insurance premium is not a debt obligation Manny F. Dooc

TELLTALES

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S I was writing this column, there had been mounting opposition from the financial sectors against the one-year debt moratorium for borrowers earlier proposed in the Bayanihan to Recover as One (Bayanihan II) bill currently under consideration.

Even the Bangko Sentral ng Pilipinas and the Insurance Commission had joined hands to assail the proposal.

BSP Governor Benjamin E. Diokno had issued a warning that such a moratorium “will significantly strain the liquidity of the banks” which may impact their ability to service withdrawals. Diokno is concerned that a one-year moratorium could result in “unintended consequences that will severely affect the banking industry, the financial system and the economy.” Thus, while the intention of the bill to provide relief to the sector devastated by the pandemic is salutary, a serious liquidity problem may trigger a bank run, which is the last thing we may want at present.

For his part, Insurance Commissioner Dennis Funa has strongly pointed out that a one-year moratorium would be detrimental to the insurance and pre-need industries and our economy. He stated that if passed into law, the 12-month moratorium could spell financial risk to the life and pre-need industries that are already reeling from low premium production brought about by the reduced economic activity. He worried that such a measure “will exacerbate the adverse effects of the pandemic to

said industries’ financial and capital positions, such that said industries may be permanently unable to recoup the consequent losses during this period, even if we were to consider future premiums.”

Atty. Francis Lim, President of the Management Association of the Philippines, suggested that “the moratorium should exclude insurance and pre-need companies as they may find it difficult to service claims, especially Covid-19 related deaths.”

The Bicameral Conference Committee approved the recommendation of both BSP and the IC, which is supported by the business sector to provide for a 60-day payment moratorium for insurance premiums and debt payments. This move was welcomed by the banking and insurance communities, but this will not sit well with the borrowers and insurance policy owners. It will be up to the President to decide.

If I may add to this discussion and I hope it’s not yet late, the payment of insurance premium is not a debt obligation per se. It’s entirely different from a loan. A premium is a con-

tractual obligation on the part of the insured in consideration of which the insurer commits to keep its promise under the policy of insurance. The premium is the consideration for the continuation of the insurance protection or services an insured is getting from the insurance company.

By the nature of its contract, there is a strict necessity for prompt payment of premiums to keep the policy in force, and this has been judicially recognized in most jurisdictions.

“Promptness of payment is essential in the business of life insurance.

All the calculations of the insurance company are based on the hypothesis of prompt payments. They not only calculate on the receipt of the premiums when due, but on compounding interest upon them.” (New York Life Ins. Co. V. Statham, 93 US 24) Stretching the period for premium payment will upset the actuarial soundness of the policy. Unlike a loan that earns interest and penalties, which are also enforceable for as long as the principal loan remains unpaid, non-payment of premiums will only result in policy lapsation.

Premiums paid had already served their purpose of obtaining insurance protection against the risk or contingency, which had run during the period that the policy had been in force.

The Insurance Code requires a Grace Period Provision in every individual and group life policy of at least one month while the Pre-Need Code provides for a Grace Period of at least 60 days. In non-life, it is usual to have a 90-day credit extension under the brokers and agency agreements within which to deliver the premiums. The Grace Period is a fixture in the policy with or without

A7

a pandemic, which allows an extra number of days to pay the premium after it has become due. In fact, in the event of a calamity, it has become de rigueur for these industries to extend the statutory grace period, if not ordered by the regulator itself.

It is common for the industry to declare motu propio premium payment moratorium in places declared a calamity area by the authorities.

The contract remains in force during the Grace Period. If a loss occurs during the Grace Period, any unpaid premium is automatically deducted from the benefit paid.

Premiums due are not loans and the two differ materially in many respects. Unlike loans, premium payments cannot be enforced by the insurer. The consequence of non-payment of premium will be termination of the policy unless the policy has earned a cash surrender value, which entitles it to a nonforfeiture benefit.

In most cases, a loan is secured by a collateral, which provides the lender another recourse against a borrower in default which is not available to an insurer. Therefore, premium payments should not be treated as loans and should not be bundled with payment of debts for the purpose of giving relief to their customers. It’s only prudent not to include premium payments under the debt moratorium contemplated in Bayanihan II bill.

The Grace Period Provision and the liberal implementation accorded to it already provide ample protection to the insuring public. To further stretch it to an unreasonable period will upset their sound actuarial valuation, which will work hardship on the insurance and pre-need industries already suffering from the ill-effects of the coronavirus.

A8 Friday, August 21, 2020

BSP gives banks room to boost real-estate activities via lending

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OCAL banks have been given more leeway to support real-estate activities and spur economic action in the sector, after the Bangko Sentral ng Pilipinas (BSP) eased real-estate lending restrictions for local lenders.

In a statement released on Thursday, BSP Governor Benjamin Diokno said the amendments aim to support growth in productive sectors of the economy amid the Covid-19 situation, including the real-estate activities.

The most salient amendment was that the monetary board decided to raise real-estate lending caps of banks to 25 percent of their total loan portfolio. Prior to the amendments, universal and commercial banks were required to comply with a real-estate loan limit of 20 percent of their portfolio, net

of interbank loans. “[The decision] encourages bank lending to households for the acquisition or construction of a residential real-estate property,” Diokno said.

Universal and commercial banks and their subsidiary thrift banks have also been required to comply with the real estate stress test (REST) limits, after assuming a 25 percent write-off of real estate exposures, on both solo and consolidated basis.

With the amendments, the methodology for computing a

bank’s REST limits was revised to exclude residential real-estate loans to individuals for own occupancy and foreclosed real-estate property.

“The REST limits are implemented as soft limits such that a

bank may maintain exposures to real estate for as long as it is able to demonstrate ability to manage risks,” Diokno said.

“The forthcoming guidelines reinforce this approach by relating assessment of risks by a covered

bank on its real-estate exposure to its Internal Capital Adequacy Assessment Process or capital planning process,” he added, saying that this ensures a holistic approach for banks’ risk management relative position.

43 PORT WORKERS COVID-POSITIVE; SBMA OFFERS ISOLATION FACILITY

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UBIC BAY FREEPORT—The Subic Bay Metropolitan Authority (SBMA) has offered the use of its community isolation facility at the Subic gymnasium here, as more workers at the Subic container terminal tested positive for Covid-19 in a mass testing held on Monday on orders of the Subic authority.

SBMA Chairman and Administrator Wilma T. Eisma said she sounded the offer in a meeting with officials of the Subic Bay International Terminal Corp. (SBITC) and representatives of the Department of Health (DOH) and World Health Organization (WHO) to defuse the health crisis at the SBITC facility where 43 workers have tested positive of Covid-19 since August 4.

The videoconference on Wednesday

discussed issues like the home quarantine of infected workers, and the tracing of their contacts in their respective communities, Eisma said.

“In this situation where we have a rising number of Covid-19 cases among workers in one area at the Freeport, it would be best to quarantine the infected workers in a proper isolation facility, rather than send them home to self-quarantine,” Eisma said in a statement on Thursday.

“This is a situation that could blow bigger, but by isolating those who tested positive, we can help arrest local transmission. Otherwise, the contagion would spread and may get out of hand. We don’t want that to happen,” she added.

The infections at the SBITC container

terminal broke out last week when a total of 15 cases were recorded after a worker manifested symptoms of the disease on July 30. The first patient, a resident of Olongapo City, had no history of travel to any Covid-19 high-risk area.

On Monday, the SBITC had all its employees tested through reverse transcription polymerase chain reaction (RT-PCR) upon SBMA orders to mass-test workers, or face a total shutdown of operations.

SBITC said that aside from those previously tested as a result of contacttracing, the required testing involved 238 shift workers, port users, security personnel, canteen staff, and SBMA checkers.

Henry Empeño

DENR flags Calabarzon landfill limits

W

ITH an estimated 5,000 tons of garbage produced daily, Region 4A or the Calabarzon region will soon find itself in trouble. Of the volume, only about 38 percent can be accommodated by its existing landfills.

This prompted the DENR-Calabarzon Office to reiterate its call to stakeholders to work together to reduce the volume of waste for disposal.

In a statement, DENR-Calabarzon Regional Executive Director Nonito Tamayo called on local governments to ensure segregation at source.

The segregation of dry and wet waste, reduction or elimination of the habitual use of single-use plastics; the repair, reuse and upcycling of waste; and turning food scraps and agricultural excess materials into compost will help reduce the daily waste production, said Tamayo.

“We have already seen the success stories of some LGUs such as Teresa in Rizal, Malvar in Batangas, Mauban in Quezon, Biñan in Laguna and Barangay San Jose in Tagaytay City, Cavite,” he said.

To recall, the DENR recently received complaints sent by concerned citizens regarding a sanitary landfill operated by S.B. Hain Enterprises & General Services Inc., located in Purok 1, Barangay Kay-Anlog, Calamba City, Laguna.

Jonathan L. Mayuga

Companies BusinessMirror

www.businessmirror.com.ph

Friday, August 21, 2020

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PCC clears logistics, airport O&M deals

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By Elijah Felice E. Rosales

@alyasjah

he Philippine Competition Commission (PCC) has approved two mergers and acquisitions on logistics and airport management on grounds that they will not lead to an erosion of competition in their relevant markets.

In a commission decision, the PCC authorized Asia Seal Pte. Ltd. to carry out its joint venture with FastCargo Logistics Corp. In the transaction, Asia Seal is set to subscribe up to 40 percent of the then issued share capital new shares in FastCargo, re-

positioning the former to get 100 percent issued share capital in each of FastCargo’s subsidiaries.

These include Fast Distribution Corp., Fast Services Corp., Fast Unimerchants Inc. and Fast Toll Manufacturing Corp.

The PCC concluded the transaction will not result in substantial lessening of competition in the distribution of fast-moving consumer goods to retailers across the country.

Further, its investigation showed there exists no horizontal overlaps between the parties.

The commission found the sale of the subsidiary is part of BDO’s restructuring in response to new regulations on lease transactions and, thereby, portfolio adjustments.

Asia Seal is owned by CVC Capital Partners Asia Pacific IV L.P., which is an investment fund holding interests in a number of companies in various industries, including its last investments held in SPi Global and Rizal Commercial Banking Corp. in the Philippines.

FastCargo is engaged in the business of cargo loading, forwarding and

warehousing services. The joint venture stands to benefit in efficiencies in the value chain where Fast Services Corp. provides warehousing services, Fast Distribution Corporation takes on distribution and logistics management, Fast Unimerchants Inc. caters to land-based motor vehicles distribution, and Fast Toll Manufacturing Corp. engages in the business of toll manufacturing, toll and multipacking services.

The antitrust also approved the acquisition of Aeroports de Paris SA of a 49-percent stake in GMR Airports Ltd. The PCC concluded the transacting parties have no overlapping businesses in the operation and management of airports in the country.

While GMR has a partnership with Megawide Construction Corp. in developing and operating Mactan-Cebu

International Airport, Aeroports de Paris has no active presence in the Philippines.

Moreover, the markets of the award of airport operation and management (O&M) concession, and provision of technical services are likely global in scope with enough market players to pose competitive restraint on the merged entity.

The transaction allowed Aeroports de Paris to acquire: first, an indirect stake of 24.99 percent, and second, a direct stake of 24.01 percent of the shares of GMR Airports.

After the transaction, GMR Airports will be jointly owned by Aeroports de Paris with GMR Infrastructure Ltd., a listed Indian corporation, which will keep a 51-percent stake and retain control over GMR. Aeroports de Paris is a listed

French firm engaged in airport operation and management, including consultancy and design. It developed and manages three major gateways of Paris: Paris-Charles de Gaulle, ParisOrly and Paris-Le Bourget.

GMR Airports is an Indian firm in the business of airport development, managing and operating a portfolio of airports in its home country, as well as in other countries, including the Philippines.

The PCC is mandated under the Philippine Competition Act to review mergers and acquisitions that meet its thresholds to make sure such transactions will not harm consumer interests.

To date, the PCC has received 216 notifications for mergers and acquisitions with a combined value of P3.8 trillion. Of this, the antitrust body approved 200 and blocked one.

SMC unit taps AG&P for LNG project ‘GCash waging war

By Lenie Lectura @llectura

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MC Global Power Holdings Corp., a wholly-owned subsidiary of conglomerate San Miguel Corp. (SMC), is partnering with Atlantic Gulf & Pacific (AG&P) for its planned LNG (liquefied natural gas) project in Batangas.

The company’s planned Ilijan LNG Terminal will be developed by AG&P LNG Terminals and Logistics, with EPC (engineering, procurement and construction) work to be handled by AG&P Construction Solutions.

“As of August 2020, the company is in advanced stages of executing a

binding term sheet on the Terminal Use Agreement [TUA] with AG&P to provide LNG receiving, storage and regasification services to the Ilijan Power Plant and Ilijan Expansion,” the power firm said in a report.

The LNG terminal’s commercial operation is targeted in June 2022, in time for the expiration of the Ilijan IPPA (Independent Power Producer Agreement).

SMC Global Power, through its subsidiary South Premiere Power Corp., is the IPP administrator of the output of the 1,200MW Ilijan plant.

Ilijan is among the gas plants fueled by the Malampaya natural gas facility, which is nearing the end of its service contract in early 2024.

The proposed LNG facility will have a Floating Storage and Regasification Unit (FSRU). The power plant component of the project is capable of handling 3,000 megawatts (MW) of capacity. Of which, 1,200MW is for baseload operations and 1,800MW for mid-merit.

It will tap a hybrid onshore/offshore solution using modular technology, resulting in a cost-effective EPC and consequently, a viable terminal use fee for the power plants.

The power firm has negotiated “priority status” for the Ilijan LNG Terminal over all projects of AG&P. “As the foundation customers, SMC’s power plant will also be the priority terminal users for the

terminal and its capacity."

SMC Global Power said AG&P has extensive expertise in LNG regasification technologies and the development and execution of LNG infrastructure solutions to utilize gas for retail and power plant use.

AG&P acted as EPC contractor or technical partner for various LNG terminal projects across the world.

The site for the LNG terminal and expansion project is strategic because of the proximity to the existing Ilijan plant.

SMC President Ramon S. Ang has been vocal in the company’s interest to venture into LNG, provided that gas prices become more competitive.

Singapore Air Macay Holdings to acquire Kitchen City spends half of cash raised M

By VG Cabuag @villygc

S

ingapore Airlines Ltd. has burned through half of the S$8.8 billion ($6.4 billion) it raised through share sales in just two months, highlighting how carriers’ expenses keep incurring even as planes are grounded.

Of the S$4.4 billion spent since mid-June, S$1.1 billion was used for operating expenses, maturing fuel-hedging trades and ticket refunds from canceled flights due to the coronavirus pandemic, the airline said Wednesday. About S$900 million was spent to service debt and S$200 million to buy aircraft.

Singapore Airlines raised the funds in June after the outbreak and resulting border restrictions decimated travel demand. The airline industry is unlikely to recover fully before 2024, the International Air Transport Association said last month.

The airline also used the proceeds to repay a bridge-loan facility of about S$2 billion that it had taken to cover expenses from March until the fundraising was completed.

The proceeds spent during the two months to August 14 are almost equivalent to the combined net losses made by Singapore Airlines, Cathay Pacific Airways Ltd. and Qantas Airways Ltd. in the first half. To curb costs, the Singaporean carrier has slashed salaries and put staff on unpaid leave as it operates at less than 10 percent of capacity.

Singapore Airlines posted a firsthalf loss of S$1.85 billion as the pandemic wiped out passenger traffic.

Cathay Pacific lost HK$9.9 billion ($1.3 billion) and Qantas A$1.96 billion ($1.4 billion). Bloomberg News

acay Holdings Inc., the holding company of the businesses of Alfredo M. Yao, is buying the operator of Kitchen City canteens in the country, which has achieved profitability in 2018.

Artemisplus Express Inc., the company that owns the canteen operator, was able to post a profit of P25.45 million, from a P25.08 million loss in 2017.

Artemisplus also had revenues of P1.21 billion in 2018, some 33 percent higher than the previous year's P909.18 million.

Macay, which also owns the bottler of RC Cola products in the country, is buying Artemisplus for P2 billion in cash as the company forays into the food service business.

The canteen concessionaire currently services clients mainly from business-process outsourcing (BPO), corporate, manufacturing and hospital segments. It also provides catering services and recently ventured into the sale of packed and frozen meals.

“The acquisition will bring to fruition Macay’s vision to expand

its business portfolio to other consumer products and services in the Philippines and in other Asian countries," the company said in its disclosure.

“Our priority is to accelerate the growth of Kitchen City and support the company's vision to provide high-quality but affordable meals to its clients which mirrors Macay's mission to provide superior value for its customers in the Philippines.”

The purchase price of the transaction is based on a negotiated price between the parties, the company said.

The acquisition of Kitchen City provides Macay the opportunity to diversify into the food service space and is acquiring not only a market leader in cafeteria operations but also has the potential to expand beyond the existing 90 outlets it primarily services in Metro Manila, it said.

“Macay’s priority is to accelerate the growth of Kitchen City and to capitalize on potential synergies with ARC Refreshments Corp., bottler of RC Cola, Juicy Lemon, Fruit Soda Orange, Seetrus, Arcy's Rootbeer and Rite N Lite and the rest of the Yao group of companies,” the company said.

Kitchen City claims to be one of the biggest food concessionaires in

the Philippines serving more than 100,000 meals per day.

Artemisplus, which has over 20 years of experience, started out as canteen concessionaire in semiconductors plants, school and BPO companies, the company said in its website.

“The past years with excellent performance and satisfied clients, Artemisplus Express continuously build its business and have increased the number of stores in the different companies in Metro Manila, Laguna and Cavite,” it said.

The company has ventured into the catering business, which can serve up to 10,000 persons in one event. It has a work force of 1,300 in 68 outlets and two restaurants.

AlphaPrimus Advisors acted as financial advisor to Macay, while PwC Philippines’s corporate finance team acted as financial advisor to the seller.

Kitchen City's 2019 audited financial statements are currently being finalized, the company said.

Macay said its net income plunged more than half in the first semester to P105.99 million, from last year's P253.03 million.

Sales for the period fell 17 percent to P4.74 billion, from last year’s P5.71 billion due to lower volume.

AboitizPower units help communities fight Covid-19

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he subsidiaries of AboitizPower Corp. said they continue to assist local communities in their Covid-19 response and relief efforts funded by the government’s Energy Regulations 1-94 (ER 1-94) program.

“For AboitizPower generation units stationed in Davao, namely Hedcor and Therma South Inc. [TSI], their support through ER 1-94 program comes at an important time. The country’s battle against Covid-19 wages on, and local government units nationwide are tapping any and all resources available to support their constituents,” it said.

This program is a policy under the Department of Energy (DOE) Act of 1992 and Electric Power Industry Reform Act of 2001 (EPIRA), which allows host communities to directly access funds generated from the operations of power plants in its areas. The funds are intended for local

projects and activities.

Through the DOE Department Circular 2020-0040008, the remitted funds may be fully utilized for initiatives to combat the effects of Covid-19.

The company said about P26 million has now been remitted to the city of Davao by Hedcor and TSI. Earlier this year, Mayor Sara Duterte-Carpio thanked the two units and DOE for their support of this program.

“This funding relief couldn’t have come at a more opportune time when resources are badly needed by local governments to battle Covid-19. We thank DOE, as well as Hedcor and Therma South of AboitizPower for making this proactive move and providing us with additional resources to help step up our anti-Covid campaign,” she said.

TSI has also generated funds for its other host communities. The generation unit along with DOE has completed its remittances of P17.5 million to Brgy. Binugao, P4 million to Brgy. Inawayan, and P9 million to the province of Davao del Sur. So far, TSI has also generated P4.6 million for the municipality of Sta. Cruz, with DOE still slated to deliver an additional P1.1 million.

Beyond Davao City, AboitizPower hydro unit Hedcor is currently in the process of completing the ER 1-94 remittances for its other host communities within the Davao region, including Brgy. Kapatagan, Brgy. Sibulan, Brgy.

Darong, Brgy. Astorga, the municipality of Sta. Cruz, and the province of Davao del Sur. Hedcor is also host to areas within the Bukidnon province in Mindanao, as well as in Northern Luzon. Lenie Lectura

against fraudsters’

By Lorenz S. Marasigan @lorenzmarasigan

F

inancial technology (fintech) player GCash said on Thursday it is doubling down on security measures to provide necessary safeguards to its users from fraudsters and cybercriminals amid the pandemic.

GCash President Martha Sazon said her group has so far provided text, in-app, and social media advisories to its users against fraudulent pages and individuals and have so far collaborated with authorities to takedown fake advisories and accounts online.

She added that her group is constantly reminding users to never share their mobile and one-time personal identification numbers to anyone. The group has also created a series of online videos educating users of the security features of the GCash app.

“As the fight against the coronavirus ensues, we're also waging a war against unscrupulous individuals who are taking advantage of this pandemic to defraud Filipinos. We want to ensure that GCash users who are dependent on our services have trust and confidence in our app, which is why we are doing everything we can to improve our own programs that promote cybersecurity awareness,” Sazon said.

GCash, she added, has also partnered with authorities in fraud investigations, offering assistance and cooperating with the National Bureau of Investigation (NBI).

It has also introduced the so-called Customer Protect Program, wherein qualified users are assured of compensation for unauthorized financial transactions on their GCash app, arising from stolen mobile phones or identity theft.

“We are committed to ensuring that our users' data is protected and that they enjoy the app safely and securely," Sazon said. "This is why we're always on the lookout at how we can intensify our drive against criminals who continue to sully the company's name.”

“At GCash, we understand that the surge of users can also breed fraud risks like cyberattacks and identity theft, which is why, since day one, we have always worked toward prioritizing security and reducing our vulnerabilities,” Sazon said.

She added that her group will continue to improve its security features to further safeguard its users from unscrupulous individuals and groups.

“We recognize the importance of mutual trust and confidence between the app and its users and we aim to further develop this through our efforts in upgrading and ensuring that our system is always at its best,” Sazon said.

THC buys Airbus H125 helicopters

Photo from www.airbus.com.

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he Helicopter Co. (THC), which is fully owned by the Public Investment Fund (PIF) of Saudi Arabia, announced on Thursday that it has signed a purchase agreement with Airbus Helicopters to purchase 10 H125 helicopters.

The deal comes as part of THC’s commitment to further expand its fleet and introduce new services that fulfill market demand and support the development of the Kingdom’s wider aviation sector. Considered a multi-task aircraft, the Airbus H125 can carry up to six passengers and be easily reconfigured to suit varying requirements.

THC will utilize the new additions to its fleet to roll out new services related to scenic tourism and aerial work such as filming, banner towing, and surveying.

Commenting on the purchase agreement, Capt. Arnaud Martinez, CEO of THC said: “By signing this agreement, THC has taken a massive step in expanding its fleet and implementing its ambitious operational plan.”

“We are proud to be contributing to the advancement of Saudi Arabia’s tourism and aviation industries through our innovative air transport services that guarantee passengers a one-of-a-kind experience to relish the beauty

of the Kingdom from above.”

Martinez expressed his gratitude to the company's partners at Airbus Helicopters and to PIF for its support.

“This order marks the beginning of a new partnership with The Helicopter Company and we welcome them as a new Airbus Helicopters customer,” said Ben Bridge, executive vice president of Global Business at Airbus Helicopters.

“The H125 is the perfect helicopter for developing commercial operations in the Kingdom of Saudi Arabia as it is a powerful and truly versatile aircraft particularly suited to hot and high environments,” he added.

PIF established THC as part of its strategy to activate new sectors in Saudi Arabia that support the realization of Vision 2030 and generate long-term commercial returns. The Kingdom’s first local commercial helicopter operator, THC has been offering private flights since mid-2019 and is now expanding its services with the addition of the H125 to its fleet.

This new agreement will contribute to driving the development of Saudi Arabia’s nascent and increasingly dynamic tourism and aviation industries and support the integration of each sector’s respective value chains.

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Companies BusinessMirror

Friday, August 21, 2020

PSE STOCK QUOTATIONS

August 20, 2020

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

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

44.85 89 63.1 20.4 8.15 34.7 8.12 19.78 16.4 96.35 53.9 0.84 21.95 2.51 0.96 0.28 690 0.62 1901

45.45 89.05 63.5 20.5 8.17 34.9 8.5 19.8 16.6 96.5 53.95 0.85 22.3 2.69 0.98 0.29 755 0.64 1915

45 91.85 63.5 20.4 8.14 36 8.12 19.86 17 98 54 0.84 21.95 2.7 0.99 0.28 760 0.65 1900

45.1 91.95 63.85 20.5 8.15 36.2 8.12 19.86 17 98 54 0.85 22.35 2.7 0.99 0.28 760 0.65 1920

45 88.55 62.55 20.25 8.07 34.7 8.12 19.74 16.4 96 53.8 0.83 21.95 2.51 0.99 0.28 760 0.63 1900

45 89.05 63.5 20.5 8.15 34.7 8.12 19.8 16.4 96.5 53.95 0.85 22.35 2.69 0.99 0.28 760 0.64 1915

356700 2715500 1785050 58400 807800 2711800 276700 135800 50000 413040 7280 223000 1400 103000 1000 50000 20 88000 755

16051780 242562285 112938874 1192860 6570052 95108995 2246804 2687760 830240 39887776 392426.5 185960 30770 267560 990 14000 15200 55490 1438350

112500 -150062573.5 -26147561 190105 8910 -48688185 -2198584 -311850 -12758620.5 -15120 1390450

INDUSTRIAL AC ENERGY 2.75 2.76 2.75 2.83 2.73 2.76 31037000 86226220 ALSONS CONS 1.28 1.29 1.28 1.3 1.27 1.29 2117000 2727250 ABOITIZ POWER 25.65 25.8 25.8 25.8 25.3 25.8 336700 8635230 0.159 0.16 0.16 0.163 0.16 0.16 1170000 187290 BASIC ENERGY FIRST GEN 23.3 23.4 23.7 23.7 22.85 23.3 534800 12379765 60.6 60.65 60 61 58.8 60.65 21500 1303642.5 FIRST PHIL HLDG MERALCO 270 272 273.4 273.4 266.2 270 221750 59683366 MANILA WATER 13.5 13.6 13.1 13.6 13.02 13.6 4607200 61478434 3.08 3.1 3.09 3.1 3.08 3.1 231000 713810 PETRON 11.1 11.28 11.08 11.28 11.08 11.28 240900 2713312 PHX PETROLEUM PILIPINAS SHELL 17.04 17.1 17.04 17.2 16.98 17.04 209500 3567240 SPC POWER 8.4 8.43 8.55 8.55 8.4 8.4 46800 395186 AGRINURTURE 7.69 7.83 7.9 7.95 7.65 7.83 80700 622398 AXELUM 2.42 2.45 2.49 2.53 2.38 2.42 2090000 5070680 11.4 11.68 12.98 12.98 11.1 11.4 29900 335624 CNTRL AZUCARERA 16.18 16.2 16.4 16.5 16 16.2 1716600 27754698 CENTURY FOOD DEL MONTE 4.99 5 5.04 5.04 4.97 4.99 102500 512186 DNL INDUS 5.03 5.05 5.1 5.12 5.02 5.05 1345800 6,825,871( EMPERADOR 10.1 10.14 10.1 10.1 9.88 10.1 745100 7434176 66.1 67.4 67.5 67.85 66.1 67.4 266000 17906164.5 SMC FOODANDBEV 0.65 0.66 0.65 0.66 0.65 0.66 453000 294620 ALLIANCE SELECT FRUITAS HLDG 1.18 1.19 1.23 1.24 1.17 1.19 6361000 7572250 GINEBRA 39.1 39.45 39 39.1 38.95 39.1 71600 2796330 JOLLIBEE 139.5 140 141.4 141.4 139.5 139.5 1407640 196522704 8.51 8.79 8.05 9.4 8.01 8.79 220800 1938439 MACAY HLDG 4.7 4.74 4.9 4.9 4.61 4.7 552000 2607220 MAXS GROUP 0.131 0.134 0.132 0.132 0.131 0.131 660000 86970 MG HLDG SHAKEYS PIZZA 5.52 5.55 5.8 5.86 5.5 5.55 1090000 6068608 ROXAS AND CO 1.28 1.29 1.2 1.29 1.2 1.28 28683000 36400400 4.31 4.4 4.44 4.44 4.4 4.4 6000 26440 RFM CORP SWIFT FOODS 0.106 0.11 0.11 0.11 0.11 0.11 100000 11000 137.2 137.4 138.8 139 135.1 137.2 1609910 220743646 UNIV ROBINA VITARICH 0.77 0.78 0.78 0.78 0.77 0.78 969000 754330 VICTORIAS 2.25 2.41 2.39 2.39 2.39 2.39 1000 2390 CONCRETE A 52.5 52.9 51.8 52.9 51.4 52.85 400 20737.5 53.5 54.9 53.5 53.5 53.5 53.5 30 1605 CONCRETE B CEMEX HLDG 1.3 1.31 1.3 1.31 1.28 1.31 22060000 28604480 DAVINCI CAPITAL 3.91 4.07 3.91 3.91 3.91 3.91 128000 500480 EAGLE CEMENT 10.32 10.48 10.1 10.48 10.02 10.48 3129000 32205776 EEI CORP 5.42 5.43 5.38 5.48 5.35 5.42 1890800 10245892 5.22 5.24 5.51 5.57 5.22 5.22 1911000 10231702 HOLCIM 6.4 6.41 6.61 6.73 6.4 6.41 1610500 10471597 MEGAWIDE 8.5 9 9 9 9 9 2500 22500 PHINMA TKC METALS 0.66 0.69 0.66 0.7 0.64 0.69 973000 635900 VULCAN INDL 0.74 0.75 0.75 0.75 0.72 0.74 316000 233330 1.93 1.95 1.93 1.95 1.93 1.95 131000 253960 CROWN ASIA EUROMED 1.88 1.92 1.94 1.94 1.83 1.9 271000 507850 3.8 3.89 3.86 3.86 3.85 3.86 21000 80930 MABUHAY VINYL PRYCE CORP 4.05 4.13 4.04 4.06 4.04 4.05 11000 44500 CONCEPCION 18.42 19 19 19 19 19 594200 11289800 GREENERGY 1.78 1.79 1.84 1.85 1.79 1.79 2975000 5394080 4.79 4.83 4.77 4.8 4.77 4.79 58000 277760 INTEGRATED MICR 0.98 0.99 0.97 0.99 0.97 0.98 70000 68770 IONICS PANASONIC 4.21 4.66 4.25 4.68 4.24 4.68 4000 17420 SFA SEMICON 1.43 1.44 1.43 1.46 1.43 1.43 859000 1231790 CIRTEK HLDG 5.7 5.73 5.8 5.85 5.63 5.7 1533100 8806614

434100 130790 -2145765 1993320 325925 -27908196 5876776 6180 2253138 5040 88221 -330990 11160 -7943104 -52294 2,094,508.9997) -1123680 11547265 34370 2324430 6694142 -163840 187820 563146 -981340 -9900 -20791101 9628110 -4277160 4451858 -807015 -3560634 271500 -6750 -244910 -60800 23270 -191600 170313

HOLDING & FRIMS ABACORE CAPITAL 0.475 0.48 0.475 0.475 0.465 0.475 3980000 1868950 ASIABEST GROUP 7.38 7.8 7.89 7.89 7.36 7.82 1900 14250 AYALA CORP 729 730 744 744 722 730 109690 80094560 49.15 49.8 49.9 49.9 49 49.8 624100 30789820 ABOITIZ EQUITY 6.19 6.2 6.41 6.43 6.15 6.2 13673400 85336835 ALLIANCE GLOBAL 1.72 1.73 1.75 1.75 1.71 1.73 246000 423990 AYALA LAND LOG ANSCOR 6.31 6.48 6.31 6.48 6.31 6.48 1100 7111 ANGLO PHIL HLDG 0.52 0.53 0.51 0.52 0.51 0.52 198000 101960 0.56 0.57 0.58 0.58 0.56 0.57 680000 382360 ATN HLDG A COSCO CAPITAL 5 5.04 5.05 5.1 4.99 5 3820700 19129946 3.9 3.91 3.98 3.98 3.86 3.9 5933000 23095140 DMCI HLDG FILINVEST DEV 8.6 8.74 8.74 8.74 8.74 8.74 100 874 GT CAPITAL 404.2 407 412 412 403 407 199490 81234472 HOUSE OF INV 2.97 3.13 2.9 2.97 2.9 2.97 74000 215230 62.15 63.45 63.5 63.5 61.1 63.45 532810 33477060 JG SUMMIT 0.59 0.6 0.61 0.61 0.58 0.59 337000 199080 LODESTAR LT GROUP 8.42 8.43 8.6 8.6 8.41 8.42 2219800 18750658 MABUHAY HLDG 0.5 0.56 0.56 0.56 0.56 0.56 1000 560 METRO PAC INV 3.2 3.21 3.26 3.26 3.17 3.21 16310000 52203540 2.88 2.98 2.88 2.98 2.88 2.98 4000 11620 PACIFICA HLDG PRIME MEDIA 0.75 0.78 0.76 0.79 0.76 0.79 45000 34270 SOLID GROUP 0.99 1.01 1 1.06 0.97 1 152000 153600 SM INVESTMENTS 889.5 900 900.5 907 881 900 614140 546589790 SAN MIGUEL CORP 100 103 102.1 103 99.25 103 99480 10062664.5 0.65 0.68 0.68 0.68 0.68 0.68 50000 34000 SOC RESOURCES TOP FRONTIER 131 132 128 132 128 132 1190 157020 ZEUS HLDG 0.146 0.151 0.148 0.152 0.146 0.151 340000 49970

-248800 -47798075 -9608535 -47958311 -60200 510 -4048374 -1868820 -44182338 -0 -10043284.5 14750 1344171 -22209710 10620 435860060 -2507573 -

PROPERTY ARTHALAND CORP 0.52 0.53 0.53 0.53 0.52 0.52 828000 432360 AYALA LAND 31.35 31.4 31.85 31.9 31.15 31.35 5512600 173141860 ARANETA PROP 0.97 0.98 0.99 1 0.97 0.98 240000 235120 25.85 25.9 25.95 26.1 25.75 25.9 5656800 146593165 AREIT RT 1.35 1.37 1.35 1.35 1.34 1.34 45000 60500 BELLE CORP A BROWN 0.82 0.83 0.87 0.88 0.82 0.83 3919000 3253070 CITYLAND DEVT 0.8 0.81 0.81 0.81 0.8 0.81 88000 70780 CROWN EQUITIES 0.122 0.125 0.123 0.126 0.123 0.126 800000 98430 4.99 5.01 5.01 5.02 5 5.01 1043300 5224037 CEB LANDMASTERS 0.35 0.36 0.365 0.365 0.355 0.36 3470000 1235850 CENTURY PROP CYBER BAY 0.25 0.27 0.25 0.25 0.25 0.25 20000 5000 DOUBLEDRAGON 15.4 15.46 15.2 15.5 15.14 15.46 145500 2231336 DM WENCESLAO 5.92 5.95 6 6 5.95 5.95 684200 4071436 EMPIRE EAST 0.255 0.26 0.255 0.26 0.255 0.26 40000 10250 0.089 0.093 0.09 0.09 0.088 0.088 1200000 106760 EVER GOTESCO 0.93 0.94 0.93 0.94 0.92 0.93 5953000 5521040 FILINVEST LAND GLOBAL ESTATE 0.79 0.81 0.81 0.81 0.81 0.81 10000 8100 8990 HLDG 7.9 7.99 8.1 8.1 7.9 7.99 42300 336085 PHIL INFRADEV 1.01 1.02 1.04 1.06 1 1.01 5701000 5752720 3.07 3.08 3.1 3.1 3.04 3.07 3722000 11388270 MEGAWORLD 0.246 0.248 0.245 0.249 0.244 0.246 27280000 6713510 MRC ALLIED PHIL ESTATES 0.285 0.3 0.3 0.3 0.285 0.285 570000 170500 PRIMEX CORP 1.23 1.24 1.22 1.27 1.17 1.23 401000 496320 ROBINSONS LAND 14.76 14.8 14.96 14.96 14.5 14.8 1297500 19151910 0.227 0.23 0.228 0.228 0.228 0.228 40000 9120 PHIL REALTY ROCKWELL 1.52 1.57 1.53 1.53 1.53 1.53 12000 18360 SHANG PROP 2.63 2.71 2.71 2.71 2.71 2.71 3000 8130 STA LUCIA LAND 1.73 1.85 1.85 1.86 1.85 1.86 25000 46290 SM PRIME HLDG 31 31.1 31.1 31.15 30 31 4846200 149399265 3.71 3.82 3.82 3.82 3.72 3.82 26000 97330 VISTAMALLS SUNTRUST HOME 1.2 1.21 1.15 1.21 1.15 1.2 1811000 2143720 3.17 3.18 3.26 3.27 3.15 3.17 2555000 8116240 VISTA LAND

-46800 -131544330 -106680120 -44860 -445100 -445568 -164596 9000 -2524540 -2356250 -12950 -2323162 8130 -7440 -20156270 -11700 -518600

SERVICES ABS CBN 7.28 7.29 7.26 7.44 7.25 7.28 514800 3758559 GMA NETWORK 5.06 5.08 5.19 5.19 5.01 5.08 583400 2962547 MANILA BULLETIN 0.395 0.4 0.4 0.4 0.39 0.395 520000 205200 11.6 12.12 12.12 12.12 12.12 12.12 100 1212 MLA BRDCASTING GLOBE TELECOM 2112 2114 2130 2138 2102 2112 40420 85288390 1368 1374 1380 1382 1361 1368 24270 33293615 PLDT APOLLO GLOBAL 0.053 0.054 0.054 0.054 0.052 0.054 7930000 421430 DFNN INC 3 3.13 2.96 3.13 2.95 3.13 147000 438460 3.14 3.15 3.2 3.2 3.11 3.15 35747000 112334740 DITO CME HLDG 1.23 1.37 1.29 1.29 1.23 1.23 3000 3750 IMPERIAL ISLAND INFO 0.072 0.074 0.072 0.072 0.072 0.072 490000 35280 JACKSTONES 1.61 1.66 1.61 1.66 1.61 1.66 11000 17930 NOW CORP 2.21 2.22 2.15 2.24 2.15 2.21 8339000 18292990 TRANSPACIFIC BR 0.177 0.18 0.18 0.18 0.176 0.177 5220000 925280 1.93 1.94 1.95 1.95 1.9 1.94 413000 796600 PHILWEB 2GO GROUP 8.62 8.67 8.7 8.7 8.61 8.62 25000 215707 ASIAN TERMINALS 15.72 16.76 15.82 15.82 15.72 15.72 3700 58240 CHELSEA 3.3 3.33 3.34 3.34 3.25 3.33 522000 1707040 CEBU AIR 38.4 38.5 38.65 39 38.4 38.4 122600 4745795 107.9 108 107.1 109.6 106.6 108 1030100 110849740 INTL CONTAINER 14.56 15.4 15.8 16 15.4 15.4 16600 262962 LBC EXPRESS 0.75 0.79 0.74 0.78 0.74 0.78 41000 31180 LORENZO SHIPPNG MACROASIA 5 5.02 5.06 5.1 4.95 5 1374500 6891728 METROALLIANCE A 1.62 1.64 1.69 1.69 1.61 1.62 242000 398000 5.99 6 6.1 6.1 5.99 6 10200 61667 PAL HLDG HARBOR STAR 0.89 0.9 0.93 0.93 0.85 0.89 1708000 1516710 BOULEVARD HLDG 0.029 0.03 0.032 0.032 0.03 0.03 75600000 2288600 WATERFRONT 0.37 0.39 0.395 0.395 0.37 0.39 150000 58300 FAR EASTERN U 564 580 560 580 560 580 30 17000 7.24 7.5 7.25 7.5 7.24 7.24 30100 218600 IPEOPLE STI HLDG 0.3 0.315 0.305 0.31 0.3 0.3 6160000 1862500 2.13 2.17 2.17 2.17 2.17 2.17 3000 6510 BERJAYA BLOOMBERRY 6.2 6.22 6.16 6.22 6.08 6.22 2130800 13140256 PACIFIC ONLINE 1.97 2 2.07 2.07 2 2 20000 40870 LEISURE AND RES 1.23 1.28 1.22 1.23 1.22 1.23 7000 8560 2.11 2.43 2.07 2.07 2.07 2.07 1000 2070 MANILA JOCKEY PH RESORTS GRP 2.14 2.24 2.2 2.2 2.2 2.2 8000 17600 PREMIUM LEISURE 0.285 0.29 0.295 0.295 0.285 0.29 18960000 5497750 ALLHOME 6.19 6.2 6.39 6.39 6.1 6.2 2074800 12844673 METRO RETAIL 1.43 1.45 1.45 1.45 1.42 1.43 1257000 1806720 51 51.05 51.8 51.8 50.9 51 2021090 103212864 PUREGOLD 66.35 66.4 67 67 65 66.35 92810 6,096,217.5( ROBINSONS RTL 121.1 125 125 125 125 125 22350 2793750 PHIL SEVEN CORP SSI GROUP 1.03 1.04 1.05 1.06 1.03 1.03 2394000 2484850 WILCON DEPOT 15.72 15.8 15.94 15.94 15.7 15.8 359200 5674984 0.295 0.3 0.305 0.305 0.295 0.3 2470000 742900 APC GROUP EASYCALL 6.26 6.44 6.26 6.26 6.26 6.26 3300 20658 GOLDEN BRIA 283 299 299 299 299 299 10 2990 IPM HLDG 4.2 5 4.2 4.2 4.2 4.2 1000 4200 PRMIERE HORIZON 0.224 0.225 0.223 0.233 0.222 0.225 35980000 8155300 SBS PHIL CORP 4.53 4.85 4.86 4.86 4.86 4.86 1000 4860

-30102120 -3677820 -177130 366200 -37460 -87828 6500 -1888440 2413617 249002 -8580 -875019 -1200000 2779883 -722250 -6097603 -915370 -36253273.5 1,958,090.0003) -0 -733800 -1761918 66070 -

MINING & OIL ATOK 7.6 8.14 8 8.38 7.6 7.6 20300 155496 APEX MINING 1.61 1.62 1.59 1.64 1.57 1.62 11450000 18307850 728160 0.0009 0.001 0.001 0.001 0.0009 0.001 806000000 739000 ABRA MINING ATLAS MINING 2.93 2.94 2.77 2.93 2.77 2.93 1314000 3740070 -1376620 2.14 2.24 2.2 2.3 2.12 2.26 290000 634330 BENGUET A BENGUET B 2.08 2.19 2.24 2.24 2.08 2.19 135000 284190 COAL ASIA HLDG 0.191 0.205 0.201 0.218 0.191 0.191 2810000 571340 2080 2.59 2.66 2.59 2.65 2.59 2.65 246000 647080 450000 CENTURY PEAK 7.45 7.55 7.58 7.58 7.41 7.55 13300 99512 DIZON MINES FERRONICKEL 1.1 1.11 1.11 1.11 1.09 1.11 3520000 3872890 -114280 GEOGRACE 0.238 0.24 0.239 0.243 0.238 0.239 80000 19120 LEPANTO A 0.143 0.144 0.144 0.145 0.138 0.143 17090000 2423110 LEPANTO B 0.146 0.15 0.146 0.15 0.144 0.15 1550000 225780 58439.9997 0.0099 0.01 0.0099 0.01 0.0099 0.0099 16000000 158800 MANILA MINING A MANILA MINING B 0.01 0.011 0.01 0.011 0.01 0.011 35200000 366200 MARCVENTURES 0.91 0.92 0.91 0.93 0.91 0.92 1113000 1022270 NIHAO 1.91 1.92 1.86 1.93 1.86 1.91 1723000 3275410 -38400 NICKEL ASIA 2.93 2.94 3 3 2.87 2.93 25047000 73208620 -14686970 0.38 0.39 0.38 0.38 0.38 0.38 10000 3800 OMICO CORP ORNTL PENINSULA 0.56 0.59 0.59 0.59 0.57 0.59 523000 300650 PX MINING 3.29 3.3 3.35 3.35 3.21 3.3 2276000 7504440 -62740 SEMIRARA MINING 9.47 9.48 9.55 9.55 9.31 9.47 3198500 30212972 -10681577 UNITED PARAGON 0.0053 0.0056 0.0056 0.0056 0.0053 0.0053 5000000 27200 5.51 5.68 5.65 5.69 5.5 5.68 282500 1564660 423885 ACE ENEXOR 0.0086 0.009 0.0088 0.009 0.0088 0.009 9000000 79600 ORNTL PETROL A PHILODRILL 0.0096 0.01 0.01 0.01 0.0099 0.01 3400000 33800 PXP ENERGY 5.63 5.67 5.9 5.9 5.62 5.63 1097300 6250690 1414694

PREFFERED CPG PREF A 101 102.2 101 101 101 101 740 74740 -24240 DD PREF 100.7 103 101.5 101.5 100.7 100.7 47600 4794680 152250 FGEN PREF G 105 105.5 104.9 105.5 104.9 105.5 120110 12611599 504 516 504 516 504 516 6620 3375880 5150 GLO PREF P 1011 1090 1010 1250 1010 1010 840 869900 GTCAP PREF A GTCAP PREF B 1007 1030 1010 1010 1010 1010 8410 8494100 MWIDE PREF 100 100.1 100.3 101 100.1 100.1 2820 282431 PNX PREF 3A 99.05 100 100 100 100 100 6000 600000 101.1 102.9 103 103 100.6 102.1 14280 1451063 -448000 PNX PREF 3B 963 965 960 965 950 965 13290 12713030 PNX PREF 4 PCOR PREF 3A 1055 1060 1055 1055 1055 1055 50 52750 PCOR PREF 3B 1070 1090 1071 1071 1070 1070 100 107045 SMC PREF 2C 78 78.1 78.15 78.15 78 78.1 1570 122650.5 SMC PREF 2D 75.2 75.5 75.2 75.5 75 75.5 77830 5851116 75.3 76.8 75.3 75.3 75.3 75.3 13700 1031610 SMC PREF 2E SMC PREF 2G 76 76.55 76.6 76.6 75.7 75.7 26900 2036420 -7659.9999 SMC PREF 2H 76.5 77.5 76.5 76.5 76.5 76.5 5000 382500 SMC PREF 2I 78.3 78.5 78.3 78.3 78.3 78.3 10000 783000

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 6.84 6.99 6.7 7.1 6.62 6.99 238200 1619314 -159970 GMA HLDG PDR 4.74 4.8 4.8 4.8 4.8 4.8 144000 691200

WARRANTS LR WARRANT 0.62 0.63 0.62 0.62 0.62 0.62 103000 63860

SMALL & MEDIUM ENTERPRISES ALTUS PROP 13.48 13.5 13.94 13.94 13.48 13.5 429700 5849610 193462 ITALPINAS 1.79 1.8 1.79 1.81 1.76 1.8 1471000 2615540 KEPWEALTH 5.17 5.18 5.18 5.19 5.18 5.18 30200 156499 1.94 2.14 2.14 2.14 2.14 2.14 3000 6420 MAKATI FINANCE MERRYMART 3.24 3.25 3.15 3.25 3.11 3.25 64621000 207338540 31590210 0.54 0.55 0.56 0.56 0.55 0.55 1752000 964580 70400 XURPAS

EXHANGE TRADE FUNDS

FIRST METRO ETF 91 91.15 93.9 93.9 91 91 37060 3395060 530709

www.businessmirror.com.ph

SEC nullifies Gonzales group takeover of The Medical City

T

By VG Cabuag

@villygc

he Securities and Exchange Commission (SEC) has voided the transfer of a majority stake in The Medical City to a shareholder group led by Jose Xavier Gonzales after the regulator found the transaction fraudulent.

In its decision dated August 13, the SEC nullified the transfer of shares of Professional Services Inc. (PSI), the operator of the hospital, to a group of firms led by Gonzales, a nephew of former Health Secretary Alfredo Bengzon, a founding shareholder of the hospital.

The SEC en banc affirmed the earlier decision of the special hearing panel created for the case that penalized Gonzales family-led firms Fountel Corp. and Felicitas Antoinette Inc. and also its Singapore partners Viva Healthcare Ltd. and Viva Holdings (Phil.) Pte. Ltd. The en banc modified the resolu-

tion and declared null and void with immediate effect all share acquisitions made by Viva Holdings, Viva Healthcare, Fountel and FAI in PSI beginning August 1, 2013. It also penalized the firms.

The said firms managed to increase its collective shares in PSI to over 50 percent, mainly through subscriptions to the company's capital stock increases made in November 2013, July 2014, August and October 2017.

The collective actions of the said firms, however, were not communicated in the board meetings and said they were doing the acquisi-

tions independent from each other.

The group, however, were able to wrest control of PSI, which then was chaired by Bengzon, who was booted out in September 2018 and was replaced by Gonzales.

“The CSA [cooperation and shareholders agreement] Parties succeeded in making it appear and convincing the PSI Board and shareholders that their acquisitions were independent of each other, and that the same will not be used to wrest control over the management, governance and conduct of business of PSI,” the SEC said in its decision. “By doing so, the CSA Parties secured for themselves the opportunity of subscribing from the increase in capital/unissued stock or from the outstanding capital stock of PSI, protected such acquisitions, and used the same to their advantage by asserting that they were exempt.

This scheme afforded and provided the CSA Parties with the time needed to acquire majority shareholdings in PSI (which was their intent and plan from the very beginning) without being questioned.”

The directors and other shareholders of PSI only learned about the CSA in 2017, as a consequence of a negotiation for Ayala Health-

care Holdings Inc. to acquire shares in the company.

“The subscription contracts, deeds of assignments and deeds of sale which the CSA Parties executed and entered into to effect such acquisitions were thus tainted with illegality and fraud for which reason, the nullification of the same pursuant to Section 71.2 of the SRC is warranted,” it added.

The SEC said the increases in the authorized capital stock of PSI will remain valid but it will be considered as unsubscribed and allocated for subscription by investors.

Shares acquired from other shareholders—Splash Corp., San Miguel Corp. and Insular Life Assurance Co. Ltd.—will also be canceled and reverted to PSI as treasury shares, which may be sold to other persons.

Once the shares are sold and paid for, PSI shall reimburse Viva Holdings, Fountel and FAI for the subscriptions that were nullified.

Bengzon, a founding shareholder of The Medical City, was responsible for rescuing the institution from near bankruptcy in the 1970s, and building it up to become one of the biggest healthcare institutions in the Philippines.

‘Accor eyed deal with InterContinental’ F rench hotel company Accor SA considered a possible merger with UK rival InterContinental Hotels Group Plc as the tourism industry grapples with the unprecedented collapse in business from the coronavirus pandemic, Le Figaro reported.

To study a transaction, Accor Chief Executive Officer Sebastien Bazin created a team in June that included Chief Financial Officer Jean-Jacques Morin and bankers from Centerview and Rothschild, the French daily reported, without saying how it obtained the information.

Accor’s board is in favor of the project in principle, but Bazin decided it wasn’t the right moment to move ahead. The company hasn’t contacted InterContinental, Le Figaro said.

Accor doesn’t comment on market rumors, a company spokeswoman said by text message, and an InterContinental spokesman also declined to comment.

A combination would bring together InterContinental’s almost 6,000 hotels, under brands including Holiday Inn and Crowne Plaza, and Accor’s 5,000 properties, which include Raffles, Sofitel and Ibis. It would allow for savings on headquarters expenses, reservation systems and loyalty programs, Le Figaro said.

InterContinental’s shares have fallen 22 percent this year, giving the company a market value of about 7.4 billion pounds ($9.7 billion). Accor has slumped 44 percent, for a valuation of 6.1 billion euros ($7.3 billion).

Neither company is in a position to buy the other in an outright takeover, Geoffroy Le Guyader,

an arbitrage analyst at Kepler Cheuvreux, said in emailed comments.

Accor shares rose 1.3 percent to 23.47 euros at 11:17 a.m. in Paris, while InterContinental gained 1.3 percent to 40.46 pounds.

A deal may have made sense when InterContinental shares bottomed out near 21 pounds this year, but the merits aren’t clear now that the stock has rebounded to 40 pounds, analysts Richard Clarke and Harry Martin of Bernstein wrote in a note.

While a combination would be a good geographic fit and offer cost savings, it would be a complex deal, requiring the companies to define the brand portfolio, combine their loyalty programs and align their relationships with property owners, they wrote. Accor would be better off concentrating on the “near-free growth” that comes from striking deals with hotel owners to rebrand existing properties, the Bernstein analysts said.

“This will not help the investor perception that Accor management will not stick to its organic growth/simplification strategy and will continue to look for big deals,” they wrote.

Companies from the travel and hospitality industries have been hardest hit by the pandemic, with lockdowns and travel restrictions all but wiping out sales for some of them in the most recent quarter. CTS Eventim AG, which organizes concerts and musicals, on Thursday said its revenue fell 97 percent in the second quarter, a decline topped only by package tour operator TUI AG, where the measure collapsed by almost 99 percent. Bloomberg News

Globe users get free data for Tesda courses

By Lorenz S. Marasigan @lorenzmarasigan

G

lobe Telecom Inc. on Thursday said it is giving free data connectivity to its subscribers who are availing of the Technical Education and Skills Development Authority (Tesda) Online Program, as it pitches for the government’s education program amid the pandemic.

Yolanda Crisanto, Globe’s Chief Sustainability Officer, said Globe and TM subscribers need only to open the online program’s website through their mobile devices, which will not incur any data charge. It can also be accessed even without airtime load.

“With the uncertainties that we are facing, we need to be prepared to take on new challenges, making it important to continuously learn and explore new

ways of doing things. By making Tesda’s online courses more accessible through free data, our Globe and TM customers will have another opportunity to improve their skills,” she said.

The Tesda Online Program is an open educational resource that aims to make technical vocational education and training more accessible to Filipino citizens. It offers free online courses on computer systems, food processing, baking, and housekeeping, among other courses.

“Now, our services can reach even our kababayan without having to pay for data costs. Indeed, this is a very special milestone,” Tesda Secretary Isidro Lapeña said.

Globe’s offer for data access does not cover the materials, courses, and other resources that may be accessed outside the Tesda web site.

mutual funds

August 20, 2020

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 198.69 -23.97% -10.61% -5.31% -21.1% ATRAM Alpha Opportunity Fund, Inc. -a 1.0244 -34.01% -13.55% -4.94% -25.88% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.6474 -34.7% -15.5% -7.76% -28.02% Climbs Share Capital Equity Investment Fund Corp. -a 0.6824 -28.89% -12.16% n.a. -24.01% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6923 -20.32% n.a. n.a. -18.49% First Metro Save and Learn Equity Fund,Inc. -a 4.274 -21.59% -8.9% -4.74% -19.79% First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.6698 -23.51% -11.36% n.a.

-21.53% MBG Equity Investment Fund, Inc. -a 77.76 -34.66% n.a. n.a. -24.67% PAMI Equity Index Fund, Inc. -a 39.875 -23.74% -9.28% -4.25% -22.24% Philam Strategic Growth Fund, Inc. -a 428.68 -21.48% -8.45% -4.31% -19.54% Philequity Alpha One Fund, Inc. -a,d,5 0.892 n.a. n.a. n.a. -13.41% Philequity Dividend Yield Fund, Inc. -a 1.013 -23.44% -8.82% -3.93% -21.28% Philequity Fund, Inc. -a 29.7688 -23.34% -8.37% -3.61% -21.45% Philequity MSCI Philippine Index Fund, Inc. -a 0.7904 -23.79% n.a. n.a. -22.37% Philequity PSE Index Fund Inc. -a 4.0703 -23.33% -8.71% -3.48% -22.08% Philippine Stock Index Fund Corp. -a 680.45 -23.21% -8.72% -3.68% -21.96% Soldivo Strategic Growth Fund, Inc. -a 0.6078 -33.85% -12.97% -7.84% -28.61% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.1488 -27.54% -10.09% -4.87% -25.19% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.7798 -23.44% -8.91% -3.69% -22.08% United Fund, Inc. -a 2.8461 -23.86% -7.82% -3.11% -22.09% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 91.3847 -23.05% -8.25% -2.86% -21.86% Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b $1.0658 15.23% 1.08% 2.88% 3.64% Sun Life Prosperity World Voyager Fund, Inc. -a $1.5091 19.2% 8.54% n.a.

9.46% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.5757 -6.72% -4.31% -3.13% 0.83% ATRAM Philippine Balanced Fund, Inc. -a 2.0669 -11.07% -4.69% -1.64% -5.24% First Metro Save and Learn Balanced Fund Inc. -a 2.4191 -9.4% -3.27% -2.51% -8.07% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1847 n.a. n.a. n.a.

-19.17% NCM Mutual Fund of the Phils., Inc. -a 1.8399 -6.22% -1.56% -0.1% -6.2% PAMI Horizon Fund, Inc. -a 3.5099 -8.3% -2.53% -1.18% -7.37% Philam Fund, Inc. -a 15.6228 -8.83% -2.86% -1.37% -7.89% Solidaritas Fund, Inc. -a 1.9169 -11.27% -4.12% -1.38% -9.67% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.2844 -16.25% -5.08% -2.62% -14.99% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9466 -7.98% n.a. n.a.

-6.8% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.8482 -16.62% n.a. n.a. -14.87% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.8211 -19.02% n.a. n.a. -17.33% Sun Life Prosperity Dynamic Fund, Inc. -a 0.8125 -19.02% -6.06% -3.55% -16.65% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03915 1.11% 3% 1.94% 2.49% PAMI Asia Balanced Fund, Inc. -b 9.16% 1.87% 3.16% 3.9% $1.0515 Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.1361 11.37% 6.04% 5.09% 5.76% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.1657 5.38% 3.31% n.a.

3.28% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 368.1 4.11% 3.22% 2.58% 2.84% ATRAM Corporate Bond Fund, Inc. -a 1.9498 2.01% 1.1% -0.01% 2.51% Cocolife Fixed Income Fund, Inc. -a 3.1982 4.01% 4.95% 5.03% 2.58% Ekklesia Mutual Fund Inc. -a 2.3155 4.36% 3.3% 2.39% 4.14% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4626 4.8% 3.63% 2.03% 4.39% 4.7123 8.92% 4.93% 2.86% 7.76% Philam Bond Fund, Inc. -a Philam Managed Income Fund, Inc. -a,6 1.3105 5.84% 4.38% 2.46% 4.28% Philequity Peso Bond Fund, Inc. -a 3.96 5.62% 4.39% 2.27% 4.54% Soldivo Bond Fund, Inc. -a 1.0461 9.63% 4.09% 1.95% 8.48% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1991 5.57% 5.13% 2.87% 4.02% Sun Life Prosperity GS Fund, Inc. -a

1.7595 4.69% 4.53% 2.37% 3.43% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $478.21 3.31% 2.59% 2.8% 2.1% ALFM Euro Bond Fund, Inc. -a Є217.02 -1.36% 0.73% 1.08% -1.26% 3.08% 2.66% 2.59% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2385 3.68% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0265 2.32% 1.96% 1.66% 2.71% PAMI Global Bond Fund, Inc -b $1.0907 -1.31% 0.34% 0.53% -0.27% Philam Dollar Bond Fund, Inc. -a $2.5076 3.88% 3.89% 3.4% 4.33% Philequity Dollar Income Fund Inc. -a $0.0610772 1.64% 2.12% 1.93% 1.29% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.2334 1.81% 2.3% 2.63% 1.83% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 128.77 3.5% 3.28% 2.49% 2.34% First Metro Save and Learn Money Market Fund, Inc. -a 1.0442 2.34% n.a. n.a.

1.74% 2.93% 3.05% 2.61% 1.82% Sun Life Prosperity Money Market Fund, Inc. -a 1.288 Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0473 1.59% n.a. n.a.

0.87% Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 1.0246 n.a. n.a. n.a. n.a.

Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $0.95 n.a. n.a. n.a.

-4.04%

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

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

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

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

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

www.businessmirror.com.ph

BusinessMirror

Friday, August 21, 2020

B3

B4

Friday, August 21, 2020 • Editor: Gerard S. Ramos

Relationships BusinessMirror

On that Spanish word for ‘assistance’

www.businessmirror.com.ph

Today’s Horoscope

By Eugenia Last

z

CELEBRITIES BORN ON THIS DAY: Hayden Panettiere, 31; Usain Bolt, 34; Carrie-Anne Moss, 53; Kim Cattrall, 64.

Happy Birthday: Take the initiative to update your skills, knowledge and technology this year. The more you have to offer, the better. Don’t limit what you can do; exploring the possibilities and the prospects that surface will encourage you to set higher goals and standards. The information you receive on your quest for a better future will be enlightening and life-altering.

Your numbers are 5, 13, 19, 22, 32, 36, 43.

THE chefs of Culinary Pampanga

Nico Bailon (from left), Howard Dizon, Judy Uson, Vince Garcia, Sau del Rosario, Cherry Pasion-Tan and Den Lim. PHOTOS:

a

ARIES (March 21-April 19): Be careful how you treat sensitive issues. Someone close to you will be easily hurt if you are too vocal about the way you feel. Ease into personal matters with kindness and consideration in order to avoid getting into a fight. HHH

CULINARY PAMPANGA

O

NE of the most popular words during this pandemic has got to be ayuda. It is actually a Spanish word, which means “assistance,” although generally Filipinos are more likely to use tulong, or among Ilonggos bulig, both of which mean “help.”

I don’t know who started it, but ayuda has been used to denote local government assistance during the community quarantines, in the form of grocery bags of milled rice, canned goods (usually tuna and meat loaf) and instant noodles. The term has become so common nowadays, we even use it to affectionately describe gifts of food among friends and family.

I’ve been fortunate to receive a few ayuda over these past few months while in quarantine—from bags of healthy veggies, baked goods, tinned food, and cooked food. One of the most recent is a gift of love from Culinarya Pampanga, a group of friends who are chefs and restaurateurs hailing from the province. Their main goal is to preserve their unique heritage through food, and promote it as among the country’s culinary treasures.

According to their marketing consultant Spanky Enriquez, the group’s first project was during the Apec Leaders Summit in the Clark Freeport in 2015, and then again during the SEA Games at New Clark City in Tarlac in 2019. “After the success of those endeavors, their next step was a consensus to find a

CHEF Cherry Pasion-Tan’s Pork Humba

b

TAURUS (April 20-May 20): An emotional incident will lead to a change of heart. Do what’s best for you, and you will have no regrets. A personal change will be the pick-me-up you need to improve your attitude. HHH

c

GEMINI (May 21-June 20): Keep busy, and you’ll avoid trouble. If you stretch the truth, someone who knows the facts will be eager to question you. Work on self-improvement, not trying to change others. Avoid temptation and untrustworthy people. HH

d

CANCER (June 21-July 22): Don’t act in haste. It’s in your best interest to assess a situation, look for solutions and do whatever is necessary to make things better. Anger is not the answer if you want to resolve a pending problem. HHH

e

LEO (July 23-Aug. 22): Don’t dismiss a change before you check it out. Embrace new possibilities, and you’ll find a way to make whatever is happening around you beneficial. A steady pace and open mind will help you gain confidence as well as support. HHHH

way to offer their heritage dishes to the prime Metro Manila market,” he said.

The group set up shop in Manila, led by Chef Sau del Rosario (25 Seeds/Café Fleur), and includes Den Lim (DenLim’s Kitchen), Howard Dizon (Howard Dizon’s Catering), Cherry Pasion-Tan (Apag Marangle), Vince Garcia (Rainforest Kichene), Judy Uson (Café Noelle), Chef Froi Cruz (Cioccolo), the legendary home cook and beloved Aling Mila Gomez (Mila’s Tokwa’t Baboy), and Chef Nico Bailon, the son of “darlengs” Mary Anne and Claude Tayag.

The ayuda I received from the group, delivered in a quaint and reusable native bag included fresh bananas and a delectable humba by Pasion-Tan, slowcooked until the pork meat is tender, with spices like star anise, sliced ripe lacatan banana, and a whole head of stewed garlic. It’s a sweet, earthy dish that is the epitome of traditional Filipino comfort food.

Also in the bag was relyenong bangus, still by PasionTan, which was so easy and painless to eat. Unlike commercially available relyenos, Pasion-Tan’s version tasted of loving preparation. There was nary a stray fish pinbone that can get annoyingly stuck in the throat—one of the reasons I hardly eat stuffed bangus (unless I know who prepared it).

And, last, there was a Spanish-style chicken afritada by Cruz, using bone-in free-range chicken stewed in tomatoes.

Many Pampanga heritage dishes are not too easy to find in Metro Manila; last year I was lucky enough to have been invited by the Department of Tourism for a special lunch of much-loved Capampangan dishes at the Augusto P. Hizon Heritage Home in San Fernando. (See “The coming of age of Filipino cuisine: Part I” in BusinessMirror, December 20, 2019.)

Aside from one popular Capampangan restaurant, the rest of the province’s heritage dishes are beyond our reach in the Metro. With this project of Culinary Pampanga, all one has to do is pick up the phone to order; pay via GCash, BDO or BPI; then wait for the delivery.

Enriquez said among the heritage dishes available are pindang (carabao beef tocino), a delicacy that has a distinct sour and sweet flavor profile, almost an acquired taste for non-Capampangans, but absolutely a comfort food for Cabalens; kilayin, pork meat and innards stewed in vinegar, like a richer version of bopis; sisig, of course, which has gone beyond bar chow to being a national dish for the Philippines; tidtad, Pampanga’s version of the dinuguan, almost soupy with an intense flavor; and some of the chefs’s own interpretation of their much-loved heritage dishes.

“The first two weeks were a revelation,” said Enriquez, himself a Cabalen. “With very little fanfare, we started Culinarya Pampanga on July 28, with simple announcements on our Facebook and Instagram pages. We really were pleasantly surprised by the very warm reception from all over Metro Manila.”

He added, “We’re very fortunate that in spite of our minor growth pains—we’re still tweaking our ordering system to be at peak efficiency—we were able to dispatch 100 percent of the orders, and we’ve been receiving very positive, encouraging and inspiring feedback, the best of which are from our customers who are very familiar with the food (having enjoyed them in Pampanga), and who share their Culinarya Pampanga experience by posting happy and rave reviews on their social media. We’d like to thank each and every one of them for their encouragement and support.”

So make someone stuck in quarantine feel better. Send your loved ones (or yourself! Or me!) an affectionate ayuda, and gift them with their Capampangan favorites today. n For a complete menu of dishes and ordering details, check out Culinary Pampanga Delivery’s Facebook account, @ culinaryapampanga.ph on Instagram, or call 0917-3242768.

Customers book their own delivery service or pick up the dishes at the CP Commissaryof Bistro 62 on 62 Victoria Avenue in New Manila.

f

VIRGO (Aug. 23-Sept. 22): Make unique plans with someone who puts a smile on your face. A kind gesture will make a difference to someone going through a hard time and make you feel good as well. HHH

g

LIBRA (Sept. 23-Oct. 22): Set goals, high standards and expectations that make you feel proud. Refuse to let anyone deter you from concentrating on what’s important to you. An opportunity to make changes at home conducive to getting ahead at work should be put in motion. HHH

h

SCORPIO (Oct. 23-Nov. 21): How you help others will determine what you will get in return. Being cooperative and doing what’s best for everyone will give you leverage when you want to bring about change. HHH

i

SAGITTARIUS (Nov. 22-Dec. 21): Learn something new. An open mind and a desire to make a difference will help you incorporate positive changes that encourage you to let go of the past. Don’t let an emotional matter stop you from making progress. HHHH

j

CAPRICORN (Dec. 22-Jan. 19): Keep your emotions under control, and you’ll avoid getting into a spat with a friend, relative or one of your business associates. Look for personal opportunities that will help you update your attitude, image or lifestyle.

Romance is encouraged. HH

k

AQUARIUS (Jan. 20-Feb. 18): Pay attention to how much you spend, eat or take on physically. Moderation will be essential if you want to reduce situations that bring you down. Aim to look and feel your best, and you will find it easier to resist temptation. HHHHH

l

PISCES (Feb. 19-March 20): Extending a helping hand has to be for the right reason.

If you have ulterior motives, you will be disappointed with the results. Put greater emphasis on using your imagination and delving into creative projects. Romance is on the rise. HHH Birthday Baby: You are logical, productive and helpful.

You are philosophical and astute.

‘cold snap’ by george jasper The Universal Crossword/Edited by David Steinberg

ACROSS 1 Response to “Who’s there?”

6 Letters on a Cardinal’s cap 9 Ed who played Lou Grant 14 Less tainted 15 Xbox competition 16 “Gotta go!”

17 Noted Senate testifier in 1991 (unscramble letters 5 to 8) 19 Any port in a storm 20 Indian lentil dish 21 ___ prime beef 22 It’s cheap, they say 23 Regulating org. for 10-Down 25 South Carolina military college (3 to 5) 28 Certain ponies or old Fords 30 Leave unoccupied 31 Welcome at the door 32 Unexpected victory 35 “Are we finished here?” (4 to 8) 41 The Hunger Games character whose name sounds like a bread 42 Opera boxes 43 Reach, as a goal

7 Indian Ocean’s Bay of ___ 4 48 Sweet ingredient in glazed ham (3 to 6) 52 List-shortening abbr.

53 Timely benefit 54 Grandma, to a tot 55 Suffix with “meteor” 57 Jazz pianist Blake 59 Perilous forecast for travelers, and a hint to the starred answers’ indicated letters 62 Bridge statistics 63 Name within “Angelica” 64 Source of irritation 65 Everglades plant 66 Easter coloring 67 Foals’ mothers DOWN 1 Siri’s tablet 2 Meat for a cat 3 Teardrop of India 4 Bumped into 5 ___ of Good Feelings 6 Sound of a perfect jump shot 7 Mark missing from “Sao Paulo”

8 Pale purple 9 Volcanic output 10 Airport in Washington 11 Raiders’ new home state 12 Hole in a sneaker 13 Get on the nerves of 18 Simple homes 24 “You’re looking ___!”

26 Singer Burl 27 Tell the playground monitor 28 Friendly dog’s offering 29 Closest bowling target 32 Manipulate 33 Teacher’s favorite 34 “Cheap Thrills” singer 36 One may help you focus 37 Sharpen 38 Cook’s hourglass-shaped gizmo, perhaps 39 Subject to change?

40 Night school subj.

43 She oversees an order 44 Theatrical company 45 “Sorry not sorry!”

46 Sidewalk shade source

47 Sitter’s handful 49 Like a bachelor 50 With good cheer 51 Musical orphan 56 Split personalities?

58 180 degrees from WNW 60 Tach readout 61 Vote in favor Solution to yesterday’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

Heneral Paciano: The ‘othered’ hero, the other Rizal

Pepe, bakit palagi na lang tayong sawi?

(Pepe, why are we always so wretched)

T

hero at all.

Who among the Filipino historians would ever accuse Jose Rizal of hubris? No one. But Paciano, in the pen of Floro Quibuyen, sees a giant ego in our heroes, including Gomburza. The judgment about the ideological narcissism of heroes—from Del Pilar to Antonio Luna and other personalities—is actually the same decision we make with regard to all those who had supposedly died for our country. Every time we hear the rant of Paciano, we know it is our own rant, our own cry for the inutility of those who tried to save this nation.

As of now, I am caught up in the discourse of this film about the other Rizal. It is, of course, a disservice to talk of a film about Paciano by ignoring the cinematic aspect of this film.

Footages from film archives and photographs, some of them animated, introduce us to the story of Heneral Paciano. Old photos lead us to the old story.

A voice floats over these images; it is a sad voice, a valediction from Paciano who is not ready to die without resolving the conflicts formed by the selfishness of heroes, including Rizal. A man, his back to the camera, enters the frame. Without any introduction, we react to the stimuli of this man in black with a hat. He is Rizal. We know this is Rizal because, unlike Paciano, the heroism of Rizal has brought him honors in terms of being remembered.

But Paciano has a moral ascendancy—we don’t—to ask what happened to the thoughts that Rizal learned in Europe. Is it enough that flowers are being offered on the day of his birth and on the day of his death? Is he happy being on a box of matches,

• Friday, August 21, 2020

‘Bubble Gang’ airs brand-new episode; ‘Stand for Truth’ strengthens online presence

or on a two-peso bill? In the meantime, we see Rizal gazing up at his own likeness atop a pedestal made of cement or granite.

At the center of this magisterial film is Nanding Josef in his role of a lifetime. He is the sole talking head in this reluctant documentary—teary-eyed, disappointed, betrayed. As Paciano, Josef bares himself through a face that is weathered but not vanquished. He is relentless. He is not the brother narrators and storytellers of the legend of the national hero love to paint as timid and apolitical.

Josef portrays Paciano as that passive-aggressive kin who has resolved to get to the bottom of things.

Josef’s Paciano demands for an accounting of deeds and a display of solid material accomplishments. He calls on Pepe.

A cinematography with the sweep of a big film from Dexter de la Peña cannot be ignored. In one scene, he shows us a new, magisterial landscape of demonstrators ignoring a virus and the violence of an oppressive administration. The music of Emerzon Texon alternates between the folksy, martial and hymnal, most of the time brooding and haunting.

An accomplished editor, Chuck Gutierrez outdoes himself both as a film director and as a political animal in this film. He has become, with due respect to his political stand, an activist. His Rizal, summoned from dead, dull and boring histories by Paciano, walks against the crowd of demonstrators, removes his thick suit, turns around, and joins the angry protestors. If this is Rizal, then he is my hero.

Heneral Rizal is produced by Tanghalang Pilipino in cooperation with Voyage Studios. n

THIS Friday, August 21, brings a fun and all-new episode of GMA’s longest-running multi-awarded gag show Bubble Gang, featuring fresh comedy sketches and hilarious parody videos.

Various online skits will be showcased in “Zoom Gags,” a series of rib-tickling gags about employer and employee meetings; “Ranzoom,” a kidnapping sketch via Zoom; “Online Kasal,” a comedic wedding done through video call; and “The New Normal,” a sketch about a family discussing the “new normal” way of living while in quarantine.

More good vibes are in store with “Mang Tasyo,” a monologue about popular acronyms since the quarantine; “Inday Basher,” a basher of Mr. Assimo; “G.M.T. Beki Edition,” an old sketch dubbed using popular gay lingo; and “Mr. Matapobre,” featuring “Flashback Friday” clips of previous sketches.

With special guest LJ Reyes amping up the fun this Friday night, Bubble Gang airs after Meant To Be. Meanwhile, Stand for Truth (SFT) further strengthens its position as one of the country’s leading online news sources, continuing to record impressive views both on Facebook and YouTube with its compelling and exclusive stories aired weeknights.

For July, the GMA News and Public Affairs’ pioneering mobile journalism newscast recorded a total of 22.3 million views on Facebook via its official page. Launched just this year, SFT’s Facebook page currently has almost 200,000 followers to date.

Among the top videos that contributed to the high volume of views include Atom Araullo’s “Di Matapos Na Krisis: A Stand for Truth Covid-19 Mid-Year Report,” which raked in 426,000 views.

“Di Matapos Na Krisis” is a consolidated report that aims to show how the government has responded to the crisis from the day the pandemic was announced up to half of this year. It includes a timeline, the Philippines’s similarity with other countries, and reports given by the World Health Organization.

Meanwhile, Nico Waje’s exclusive stories “ExPolicemen Project: Illegal Construction sa Watershed” and “Baklas sa Baras: Illegal Construction, Binaklas Na!” recorded 723,000 combined views. The twopart report exposed the illegal construction within a watershed and protected area in Baras, Rizal. Ten days after airing the first part of the report on July 22, Masungi Georeserve Foundation, DENR, and PENRORizal announced that the illegal construction will be demolished by local government units.

Since its launch last year, SFT has produced stories picked up by mainstream news outlets. Like Waje’s exclusive report, several issues featured in the mobile newscast created public awareness, leading concerned groups and authorities to take much-needed action.

On top of these special features and exclusive reports, some of the most-watched SFT stories on Facebook, include MJ Geronimo’s “Women’s Desk: No Police Escort” aired on July 9, which earned 1.8 million views. Rounding off the most-viewed stories last month is Jairo Bolledo’s report “Patay Pero Gumaling sa Covid-19” which scored 930,000 views.

On YouTube, SFT registered 2.3 million combined views for July from GMA Public Affairs and GMA News channels.

Joining Araullo in SFT is GMA resident political analyst Richard Heydarian. Aside from Waje, Geronimo and Bolledo, producing their stories using their mobile phones are Manal Sugadol, Shai Lagarde, Izzy Lee and Jm Encinas.

Catch Stand for Truth every night at 9 pm via its Facebook page, as well as GMA News’ and GMA Public Affairs’ YouTube channels.

of more than three minutes but if by the first 10 seconds of the song you’re not head-banging along with it, then I suggest you go to the nearest doctor to have your ears checked.

The banging drum beats, the ominous guitars and Marc’s vocals try to one-up one another in an impactful way. The song’s start of a single line melody expands as more and more layers of guitars and sound effects like a microphone feedback are added, encompassing the song and solidifying its foundation, yet at the same time exploding to a pure aural experience.

To say that the release of “Dissent” is timely would be an understatement. With what is happening in the country and all over the world, when we are bombarded by fake news or sensational tales of abuses of power by persons of authority, or when we are threatened to stay silent, Marc sings: “I choose not to listen, I choose not to believe.”

By my second listening of the song, I was dissenting along with Marc and Mia. Listen to “Dissent” on Spotify and other digital music platforms.

nnn A DOCUMENTARY based on the life of Filipino artist Jake Zyrus triumphed in this year’s US International Film and Video Festival.

Titled Jake and Charice, it received the Gold Camera Award for documentary under the social issues category of the global award-giving body.

The documentary takes viewers on the singer’s journey from being known as Charice, the first Asian artist to have a Billboard Top 10 hit, to coming out as a transgender man now known as Jake Zyrus.

It documented his life-changing decision, the challenges he faced, and his courage toward finding his own voice.

The documentary was produced by the Tokyo-based NHK (Japan Broadcasting Corp.) and Documentary Japan in association with NHK Enterprises, and coproduced by ABS-CBN. It premiered in Japan in November 2019.

The US International Film and Video Festival started in 1967, recognizing creative excellence in corporate, education, entertainment, documentary and student productions worldwide.

—Paciano

HERE is a new subversive document in town: it is a film about Paciano Rizal, the brother of Jose, the national hero.

In elementary up to college, we memorize the name of Paciano alongside those of Jose’s sisters.

That’s it. We do not care about him because Paciano did not write any outstanding documents. He did not perform any strong deeds to further the Revolution.

He became a Katipunero but, in the narrative of teachers and historians as well, Paciano never reached the dizzying heights that his younger brother reached.

No film has ever been made around him. In the many films about Jose Rizal, Paciano’s presence came in the form of walk-on roles. He was a nonentity in the saga of Jose. He was what you might call the funding agency behind the grand project called “Jose Rizal.”

It is the tragedy of Paciano that he had a brother who was not only larger than life, but one who threatened to overshadow the history of the period to which he was born. It is the greater tragedy—and the supreme sarcasm—that Paciano did not die in the drama of a de facto martyr. It is the greatest tragic truth that Paciano never really became a hero.

It is, however, also because of the fact that Paciano never reached for the stars and all the stars were to him unreachable that he lived on grounded, those two legs planted firmly on the ground, the head swirling with the questions for his dear brother.

This is the obscure personality that is at the center of the cinema of Chuck Gutierrez, called Heneral Rizal.

It is a film that is at once raging and surrendering: Paciano is angry from start to finish, his perpetual tears an emotional resignation to his footnote of a presence in the life of a brother who got declared the hero of the nation. In the person of Paciano are more questions than answers that the lead character gets to ask. The true-red Rizalista may shiver at the thoughts of how this film, by way of the lead character, dares to grill the national country of this republic. As if “disrespecting” the hero is not enough, the questions posited are for Rizal to reply to even as these questions are about Rizal the person.

But Gutierrez is not only subversive—in the sense of providing a reading of histories that we are not used to—he is also a debunker of myths and the apocryphal in our heroes’ saga. More exciting is the fact that beyond myths, Gutierrez happily shatters the traditions we have built around our national heroes, of which Rizal occupies the topmost tier of the pantheon.

Through the lens of Gutierrez, Paciano is resurrected to question the heroism of his own brother. Much as Paciano loved Jose or Pepe, it is clear that Paciano has more intelligent and sobering questions that make all the other heroes of the nation look puny and irrelevant. The problem with— or the advantage of—the doubts of Paciano regarding Pepe’s desire to die for the country is that these are our doubts and our humorless take on any kind of

Editor: Gerard S. Ramos

Rocking on with Kjwan WHILE fans of FPJ’s Ang Probinsyano know Marc Abaya as bad guy Jacob Serrano, music fans know him as front-runner of acclaimed rock band Kjwan.

As a band, Kjwan transcends music genres. The casual listener may classify them as a rock band but watching them perform live, it would be hard to pigeonhole them in one genre. In their live gigs, they can be wild on one song but then easily segue and showcase their introspective side.

Marc would be like a possessed madman half of the show; then the other half, you see him sing in a calm and thoughtful manner.

Their discography actually reflects their music genre-bending too. You hear how their albums, starting with their self-titled debut released more than a decade ago to their last one titled Kjwan IV Volume One, play on hard mood swings—from bursts of rage to quiet anxiety. Various musical genres and influences are evidenced in one album, and the way they blend them all in a delectable package has made me declare Kjwan as one of the most exciting bands we have. I always am the look out for whatever Marc and the rest of the Kjwan boys have to offer.

So when Marc started to tease on his social-media accounts a new song, I waited in excitement for the release. And, boy, does it live up to my expectations.

Titled “Dissent,” the song is a collaboration with DJ and producer Miaow (Mia Ayesa). This time, we hear Marc diving head-on with industrial rock. The song is loud, edgy and abrasive, a standout among many of the songs released of late which are either formulaic or boring.

“Dissent” gives enough twists and turns in the song to make you fully appreciate its running time

B5

B6 Friday, August 21, 2020

Zhian Kyle Dingle: The little warrior fights DPWH inspects CALAX Laguna Segment Interchanges, now open to the public

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EPARTMENT of Public Works and Highways (DPWH) Secretary Mark Villar inspects the Interchanges of the Cavite-Laguna Expressway (“CALAX”) along with MP CALA HOLDINGS INC (MCHI) Executives prior its opening. These are the Laguna Boulevard Interchange and the Laguna Technopark Interchange.

“I am very happy that this BBB project has progressed despite the challenges brought about by the COVID-19 pandemic.

The Community Quarantine affected the mobilization of construction, the manpower that oversee the coordination to secure the service roads and the overall timeline of the project. We have carefully navigated through this situation and we are ready to open these interchanges to the public at 12:01AM on August 18,2020. It is really a delicate balance as we aim to reach more milestones of this project, while keeping our people, the community and the construction sites safe," Sec. Villar said.

With these interchanges operational, motorists can enjoy access to and from the Laguna Technopark and have an alternative route to and from Nuvali via Laguna Boulevard and South Boulevard, thus decongesting Santa Rosa-Tagaytay Road and other local service roads in the area.

“About 10,000 cars per day are currently served by the Laguna Segment, and these interchanges are added catalysts for the much needed economic activity at all levels, it will allow the flow of output of goods and services that people utilize thereby spurring growth in the community and the region.” Villar further said.

MP CALA Holdings Inc President Bobby Bontia is optimistic as he shares their plans. “These interchanges will open in full electronic mode to help stem the spread of COVID-19. Safety is our highest priority for both our motorists and personnel. Operating the interchanges using 100% RFID will eliminate cross contamination of the virus which may spread through bills and coins used in cash payments. By November the whole of CALAX will be on RFID technology.

The DOTr leads the initiative on the use of RFID in all MPTC toll roads steered by Secretary Art Tugade, and DPWH headed

by Secretary Mark Villar as the grantor of CALAX has approved the adoption of 100% RFID for the whole stretch of the expressway. To support this, we have made the Easytrip RFID available through the online store Shopee, and we also have customer service centers one

each direction of CALAX and soon a drive through installation and loading center.”

The 45-kilometer CALAX has (9) interchanges in the following locations: Kawit, Governor’s Drive, Open Canal, Aguinaldo Highway, Silang East, Santa Rosa-Tagaytay, Laguna Boulevard, Laguna Technopark, and Greenfield (Mamplasan). This 4-lane expressway will soon connect the Manila-Cavite Expressway (“CAVITEX”) in Kawit City, Cavite to the South Luzon Expressway (“SLEX”) at Greenfield (Mamplasan) Interchange in Biñan, Laguna. When completed, CALAX shall serve about 45,000 vehicles cutting travel time from 2hours to under an hour.

MPCALA Holdings, Inc. is a subsidiary of Metro Pacific Tollways Corporation, which also holds the concession rights for the CAVITEX, Cavitex C5 Link, the North Luzon Expressway (NLEX), the NLEX Connector Road, the Subic-ClarkTarlac Expressway (SCTEX) and the Cebu-Cordova Link Expressway (CCLEX) in Cebu.

For inquiries, please contact: Ms. Arlette V. Capistrano, Assistant Vice President, Communication and Stakeholder Management, CAVITEX |CALAX +63 998 597 5130|mvcapistrano@mptsouth.com

Protecting wildlife and the environment to prevent disease outbreak and pandemics

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HILE medical frontliners continue to battle COVID-19, we continue to do our part by staying in the confines of our homes while we strive to be healthy and safe from a highly infectious and deadly disease. In addition to adopting the health and safety measures as part of our daily life, we can also take steps to learning more about the pandemic and how we can help prevent its resurgence in the years to come.

Scientific research had identified COVID-19 as “a zoonotic disease, an illness passed on from animals to humans.” The risk of zoonotic disease transmission is directly related to human activities that degrade the environment and exploit wildlife, leading to an increase of interactions between animals and people.

Activities leading to the destruction of natural habitats are considered to be major problem concerning the protection of the environment because these result to

the forced transfer of wild animals to the domain of the human populace.

The trade of wild animals, such as bats, pangolins and marine turtles, also creates situations where wild animals have to interact with humans. These situations include keeping wild animals as pets, and their consumption for sustenance and, in some cases, for traditional medicine.

Unless governments take serious preventive measures and the public cooperate and actively participate in the protection of the wildlife and its habitat, experts warn that an outbreak of a disease may lead to another pandemic.

To prevent the spread of zoonotic diseases and avert future pandemics, we should do our share in preserving the natural environment, and help curb wildlife trading. Specifically, we can participate in tree planting activities, monitor and report the sale of wild animals to authorities, and support groups, organizations, and

establishments that value the protection of the environment.

At Sandari Batulao, we are building a mountainside community that promotes the seamless integration human of activities with the consistent effort of preserving the environment. Following the high standards of responsible property development, Sandari Batulao respects the topography of the land, leaving the natural habitat undisturbed, and keeping the scenic environment intact for the residents. It is Sandari Batulao’s vision of forming a community that acts as a steward of the environment in pursuit of sustainable living.

This year marks the partnership between Sandari Batulao and the Haribon Foundation, a non-profit organization dedicated to the protection of nature and preservation of life. Under Haribon’s instruction and guidance, Sandari Batulao will be launching several projects and activities to conserve natural sites and habitats and encourage sustainability through community empowerment. In the coming months, the installation of bird observation spots, and a native tree nursery will be underway. In addition, basic knowledge and training on the environment and its protection will be given to the staff and eventually to the members of the community around its site.

Sandari Batulao is a real estate development located in Nasugbu (15 minutes from Tagaytay), Batangas.

For inquiries, please email us at inquiries@cpmc.ph or check out www. sandaribatulao.com, and Sandari Batulao (Official) on Facebook, and Instagram.

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CUP of coffee could save this child’s life. Zhian Kyle O. Dingle is only a year old and yet has been struggling for each breath since he was born. Born to a housewife and a construction worker from San Quintin, Pagansinan, Zhian is diagnosed with chronic liver disease and TORCH syndrome -- with the latter causing severe damage to the little baby’s body. TORCH syndrome affects newborn infants and prevents them from developing a healthy immune system.

Babies like Zhian with the infection are often in danger of dying early because their organs fail to grow correctly. It is a constant battle; yet Zhian is a little warrior who fights bravely each day to survive to the next.

His parents are unable to support all the financial obligations Zhian needs to get better and seek treatment. He desperately needs a liver transplant in order to have a fighting chance at life. Your contributions can help save a little boy. Every small donation, even just the price of a small cup of coffee, is enough to help Zhian reach his second birthday.

Zhian may only be a small baby but his spirit is big. He fights for each second. His parents appeal to your kindness – a small sacrifice for you means the world to these gentle, struggling people.

If you want to learn more about how to help Zhian, please contact: (0966) 320 4800.

PLDT, PAF INK CYBERSECURITY PARTNERSHIP. PLDT Inc., the country’s leading digital and telecommunications provider, recently signed a Letter of Conformity on its partnership with the Philippine Air Force (PAF) on cybersecurity. The telecommunications group will assist this major branch in the armed forces in terms of cybersecurity trainings and information communication infrastructures. On hand at the signing ceremony at the Agunod Hall, Villamor Air Base, Pasay, are, from left: Lieutenant General Alen T. Paredes, PAF Commanding General; Manuel V. Pangilinan, PLDT Chairman, President and CEO; Atty. Michael T. Toledo, Managing Director, Public Affairs, MVP Group of Companies; and Juan Victor I. Fernandez, PLDT Senior Vice-President and ePLDT President and CEO.

Jimini Food Group launches Pizza Togo

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O more waiting for your usual pizza delivery! Always HOT from your own oven, ANYTIME you want! With Pizza TOGO, let’s GOGOGO! Given the current times and the need to be resourceful to continue earning for the family, Pizza TOGO was launched as the advocacy brand of the Jimini Foods Group to cater to consumers in communities who want great tasting high-quality Frozen-Fresh Pizza anytime they want it!

Pizza TOGO is the answer to the current developing trends and habits of consumers for convenience and safety at home as it offers a whole range of sizes and flavors as the first and only national online community selling pizza brand.

Pizza TOGO also aims to provide people nationwide an opportunity to earn even during these trying times focusing on delivering Frozen-Fresh, Bake-Anytime Pizza and satisfy your family’s pizza cravings by offering GIANT and SOLO ROUNDS pizzas

in the comforts of your home.

If you are residing in a village/residential building/residential cluster/residential district/townhouse district, sign up to be OUR OFFICIAL PIZZA TOGO COMMUNITY DEALER! Offer your community delightful FROZEN-FRESH pizza safely delivered to their doorsteps! Be part of the Pizza TOGO Community Dealership Network NOW! Be sure to follow us on our social media pages for updates and more info: Facebook [facebook.com/PizzaTOGO.com.ph], Instagram [@pizzatogoph], and Twitter [@ PizzaToGoPH].

For a GIANT business opportunity, you can reach us thru (+63) 917-108-7438. You may also submit your application thru this link. [https://forms.gle/QCvSn7SfCVbywxeL9] GOGO with Pizz a TOGO, The Jimini Foods Group is the largest pizza network in the Philippines with over 1300 serving stations nationwide under the Pizza Pedrico’s & Santino’s Supreme Slice Pizza brands.

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

Sports BusinessMirror

Friday, August 21, 2020 B7

Tiger hopeful of ambitious busy schedule

N WOULD separating Ineos’s champions—Chris Froome, Egan Bernal and Geraint Thomas work wonders?

INEOS DROPS FROOME, ‘G’ FROM TOUR ROSTER L

ONDON—Former Tour de France champions Chris Froome and Geraint Thomas were both left off the Ineos team on Wednesday for this year’s race.

Ineos announced its selections for the pandemic-affected season with its top riders allocated to each of the three major stage races.

Defending Tour champion Egan Bernal will lead the team in France from August 29 to September 20, denying Froome a chance to tie the record of five titles. Lance Armstrong’s seven wins were retrospectively wiped out because of doping.

Froome will lead the team at the Spanish Vuelta from October 20 to November 8. That will give the British rider, who won the Vuelta in 2011 and 2017, more time for his comeback from a horrific crash 14 months ago.

Team Director Dave Brailsford said the later Vuelta start gives Froome “that little bit more

time to continue his progress to the top level.”

Froome is in his last season with Ineos before he joins the Israel Start-Up Nation squad.

Thomas, the 2018 Tour champion, will ride in the Giro d’Italia from October 3 to 25.

Richard Carapaz, the 2019 Giro champion, now rides for Ineos and will be Bernal’s main support rider in France.

“Egan will once again target the yellow jersey in France and we are very excited to give last year’s Giro winner, Richard Carapaz, his debut in this year’s Tour also,” Brailsford said, announcing the selection decision on Wednesday morning.

“Geraint will target the Giro and take on the opportunity to double up his Tour de France win with another Grand Tour title, with the aim of being the first Welshman to win it,” he said.

“In turn, Chris Froome will target the Vuelta. Chris is a legend of our sport, a true

champion who has demonstrated incredible grit and determination to come back from his crash last year,” he said. “We want to support him to compete for another Grand Tour title and the Vuelta gives him that little bit more time to continue his progress to the top level.

“I am very proud that we have several current, and I am sure future, Grand Tour champions in the team. Selecting the right leader in the right race with the right support team is critical and has meant we have had to analyze all the latest information to make sure we are in the best position possible to optimize our performances in the coming months,” Brailsford added.

Team Ineos will be known as the Ineos Grenadiers for the Tour de France and have a newlook kit design to promote the new 4x4 SUV vehicle recently launched by Ineos Automotive.

Team Ineos will be composed of Bernal,

Castro [Jonathan Castroviejo, 33], so I think it’s a good balance. I’m really happy to be in the Tour team; I’m just going to go there and try to do my best for them and the whole team.”

Bernal suggested Thomas could do well in the Giro d’Italia and that he could possibly support Froome in the Vuelta a España after the Tour de France.

“It’s a bit strange not to have G [Geraint Thomas] and Froomey [Chris Froome] in the Tour but I’m excited to see what G can do in the Giro,” he said. “I think it’s a good Giro for him with the three time trials. I think he gain time there and try to defend in the big mountains.”

“In the Vuelta, who knows, maybe I can go there to try and help Froomey. Now I need to be focused on the Tour but after the Tour I have on plans yet, so it could be a good option,” he added. AP and Cyclingnews

CELTICS, RAPTORS GO 2-AND-0

Froomey: I’m not confident about Tour de France

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HRIS FROOME’S exclusion from the Ineos Tour de France team felt like a possibility from the moment he signed a contract with Israel StartUp Nation for 2021—and that hypothesis hardened gradually into fact after he resumed his season in early August.

Froome’s struggles at the Route d’Occitanie and the Tour de l’Ain were offset by a couple of encouraging cameos in the service of Egan Bernal and mitigated by the fact that he had raced just once—at the UAE Tour in February—since his horrific crash at the Critérium du Dauphiné in June 2019.

The shortened 2020 Dauphiné, however, served as a most exacting dress rehearsal for the rescheduled Tour and it was apparent that Froome was well short of the condition that had carried him to four overall victories in Paris.

Like 2018 winner Geraint Thomas, Froome was omitted from the Ineos Tour selection announced on Wednesday morning and the Briton will instead focus on preparing for the Vuelta a España, scheduled for October 20 to November 8.

In the hasty reshuffling of the Ineos deck, Richard Carapaz, long slated to defend his title at the Giro d’Italia, was drafted into the Tour team.

“It’s definitely a readjustment for me—moving the goalposts from the Tour de France to the Vuelta a España—but I think, given where I’ve come from through the last year, I’ve had an incredible recovery from the big crash I had last year, and I’m in a very fortunate position to be back racing now already,” Froome said in a video published by Team Ineos.

“But I’m not confident that I can really fulfill the necessary job that would be needed from me at this year’s Tour de France, and I think it’s a lot more realistic targeting the Vuelta a España, and it gives me a chance to really get stuck in to something that’s deliverable, really,” he added.

Froome sustained serious injury, including a fractured femur, when he crashed in a time trial route at the 2019 Dauphiné. By late summer, he was publishing videos demonstrating the advanced nature of his rehabilitation and he began the 2020 season with the avowed aim of winning a fifth Tour de France.

In April, Ineos manager Dave Brailsford suggested that the hiatus from racing and the postponement of the Tour due to the coronavirus pandemic would help Froome to complete his rehabilitation ahead of the Grand Départ. In the video published on Wednesday, Froome suggested that the race had come around too soon. Cyclingnews

Carapaz, Andrey Amador, Jonathan Castroviejo, Michal Kwiatkowski, Luke Rowe, Pavel Sivakov and Dylan van Baarle.

“We have been analyzing closely how we can win the Tour de France this year and we have a passionate team united by a common purpose, ready to get the job done,” Brailsford said.

Bernal said he liked the balance of the Tour de France squad.

“I’m really excited to have this team around me in this Tour de France,” Bernal, 23, said from the Alps where he is doing some final training after pulling out of the Criterium du Dauphine to avoid worsening a back problem.

“I think we are a young team with Pavel [Sivakov, 23], Richard [Carapaz, 27] and me.

But we will enjoy it. We have a young team but also the experience of other riders like Kwiato [Michal Kwiatkowski, 30], Luke Rowe [30] and

THE Celtics’ Jayson Tatum (left) shoots against the Sixers’ Joel Embiid. AP

United City buildup going fever pitch

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HE United City Football Club (UCFC) signed Stephan Schrock both as a player and assistant manager and announced its plans for a “farm system” that aims to help the sport’s development in the country.

Eric Gottschalk, UCFC co-owner and MMC Sportz Asia CEO and founder, also told a virtual press conference on Wednesday that the team—which bought the multi-titled Ceres Negros squad—is looking at three or four venues to play its home games.

“The organization will be dedicating and focusing on the development of local

and foreign talent,” Gottschalk said. “A ‘farm system’ will be created specifically for the holistic development of Filipino football players.”

“We are looking at players especially from the provinces who, due to lack of infrastructure, do not have access to equipment and technology but have the talent and skills,” Gottschalk added.

Gottschalk said the team also tabbed Bienvenido Marañon, the Asian Football Confederation Cup all-time leading scorer, adding the UCFC continues to shore its lineup.

AKE BUENA VISTA, Florida—Jayson Tatum scored 33 points and the Boston Celtics beat the Philadelphia 76ers, 128-101, on Wednesday night to take a 2-0 lead in the firstround Eastern Conference playoff series.

Tatum had a career playoff high for the second straight game after scoring 32 points in the opener Monday.

“I’m playing confident,” Tatum said. “Just trying to be aggressive and trying to make the right play. I say that a lot, but that’s as easy as I can break it down.”

Kemba Walker added 22 points and Jaylen Brown had 20 for the Celtics, who shot 51 percent from the field.

“I think it got deflating when their shot makers went bananas,” 76ers Coach Brett Brown said. “I’m not going to scold their [76ers] effort.

I think you’ve got to shake their hands—the Celtics—on some of the shots.”

Joel Embiid had 34 points and 10 rebounds for Philadelphia, and Josh Richardson added 18 points.

“It’s a long series,” Embiid said. “We’ve got a long way to go. Obviously, this was a tough one tonight. We’ve got to lock in and get ready for Game Three.”

The Celtics lost starting forward Gordon Hayward to a right ankle sprain in Game One and expect him to be out for approximately four weeks.

The Toronto Raptors’ second-year coach Nick Nurse used a small lineup that included Pascal Siakam at center to help finish off the Brooklyn Nets also on Wednesday to also take a 2-0 lead in the first-round playoff series.

Fred VanVleet had 24 points and 10 assists, Norman Powell had a big game off the bench with 24 points and the defending National “We are targeting from former national team mainstays to former UAAP [University Athletic Association of the Philippines] standouts,” he said.

UCFC kept the Ceres core intact by signing up 16 of the former team’s 21 players.

Ceres Negros folded up with its owners pinning the blame on the Covid-19 pandemic.

UCFC General Manager and Coordinator Ace Bright is overseeing the immediate and long-term strategy of the organization, Gottschalk said.

“The club will also have something in store for the most loyal fans of UCFC which has never been done in Philippine football,” Gottschalk said. It’s a loyalty membership program that will entitle both UCFC and maybe, even PFL

Basketball Association (NBA) champion Raptors defeated the Brooklyn Nets 104-99 in a game they trailed for more than three quarters.

Kyle Lowry had 21 points, nine rebounds and forced a big turnover in the closing seconds that led to a game-sealing dunk for Powell.

“It’s all feel,” Nurse said of the decision to play Siakam alongside VanVleet, Lowry, Powell and OG Anunoby. “I have tried to get my five guys who have played the best on the floor late.”

Garrett Temple led the Nets with 21 points.

Donovan Mitchell, meanwhile, scored 21 of his 30 points in a big third quarter and the Utah Jazz beat the Nuggets, 124-105, to even the first-round playoff series at a game apiece.

All part of his maturation as a playmaker.

“The biggest thing for me is reading the situation,” Mitchell explained.

“My first years, I kind of saw the rim, being a scorer. I prided myself over the quarantine just how to become playmaker. Find a way to get the team involved.

It may not always be scoring. I think today, just trusted my teammates.” AP [Philippine Football League] fans to promos, discounts and privileges to establishment and brand partners of the club.”

Gottschalk said the organization is also studying the establishment of football academies and training grounds as part of its contribution to the development and promotion of football.

Football training and competition remain shuttered because of the pandemic.

Vince Juico

ORTON, Massachusetts—Tiger Woods has been careful to manage his schedule to avoid playing too much as he tends to a lower back that has gone through four surgeries.

Now the idea is to play as much as he can.

“The plan is to play four out of five,” Woods said Wednesday after playing the back nine at TPC Boston. “That’s the plan.”

It’s an ambitious plan for a 44-yearold who tries to avoid playing consecutive weeks, much less the three in a row that might be required for him to reach the Tour Championship for the first time since he won at East Lake in 2018. That’s also the last time Woods played three weeks in a row.

The road begins Thursday with The Northern Trust, the first of three playoff events that culminate in Atlanta with the Tour Championship and the $15 million prize to the FedEx Cup champion.

Justin Thomas is the No. 1 seed—the eighth player in eight years to have the top seed starting the postseason—and played the ninehole practice round with Woods, Ryan Palmer and Harold Varner III. Woods wasn’t sure where he stood in the FedEx Cup. He thought it was No. 28, his position when golf shut down on March 15 because of the Covid-19 pandemic. Having played only twice since golf returned in June, he has fallen to No. 49.

Only the top 70 after this week advance to the BMW Championship at Olympia Fields south of Chicago, and from there the top 30 go to East Lake in Atlanta for the Tour Championship.

That Woods is even as high as No. 49 is remarkable considering he has played only five times this season. That includes the ZoZo Championship in Japan last October, when Woods won for his record-tying 82nd career victory.

There also was a tie for ninth at Torrey Pines, dead last at Riviera and then no golf for three months. Because the tour lost 13 weeks from its schedule due to the pandemic, FedEx Cup points for the playoff events are only triple in value instead of being worth four times as much. That will reduce some of the volatility.

A victory or runner-up finish at the TPC Boston, where Woods won in 2006, would lock up a spot in Atlanta and might afford him the chance to take off next week. Considering he hasn’t seriously contended since Japan last fall, odds are he’ll have to play three in a row to reach Atlanta.

“That’s the way it’s going to work out,” Woods said.

And then he would have one week to exhale before the US Open, one of the most grueling weeks in golf at a Winged Foot course that Woods played Monday. The US Open was rescheduled because of the pandemic.

“We’re all getting used to the schedule,” Woods said. “This is weird for every one of us.”

That includes Thomas, who joined Woods at Winged Foot on Monday. He spoke of crossing the virtual finish line at East Lake and going on a vacation to decompress. That’s in a normal year.

Now, there’s no stopping.

“That Masters in November is sort of the end of the season,” McIlroy said. “But look, it’s a different year. I think we’re all just glad that the tournaments are being played and that we’re getting them in, that there’s going to be a champion. Someone’s got to win them. Doesn’t matter if it’s in April or November. The fact that we have an opportunity is the most important thing.” AP

TIGER WOODS continues to tend to a hurting lower back. AP

Motoring BusinessMirror

Henry Ford Awards Best Motoring Section 2007, 2008, 2009, 2010 2011 Hall of Fame

B8 Friday, August 21, 2020

Editor: Tet Andolong

Optimism amid the pandemic; Isuzu in Zamboanga

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ITH sales data horrendously drawing jaw-dropping stares, the current year ought to be forgotten this early. Next year and in the coming years—even decades, perhaps?—the pandemichit 2020 will be bitterly remembered as just that: the car industry wasn’t just battered down to its knees, it was beaten black and blue by Covid-19.

Not simply knocked down but brutally knocked out.

Suddenly, Campi and Avid figures looked like trailers of a horror movie, with grotesque numbers appearing outright eyesores you could puke in just seconds gawking at them.

With industry sales plummeting down to 20,542 in July alone from 31,810 in the same month in 2019, that’s a 35.4-percent sales dip and a clear dagger at the heart that no surgery might ever repair the damage it had inflicted on the industry at this stage of the scourge.

“This volume reduction can have serious operational and financial impact on the industry,” said Rommel “Barry Gibb” Gutierrez, the president of Campi (Chamber of Automotive Manufacturers of the Philippines Inc.).

The industry’s performance in the year’s first seven months was even more appalling as sales nosedived to 48.7 percent with 105,583 units sold from 205,945 in the same span last year.

Toyota suffered a 49.2-percent drop with 44,481 units sold in the first semester and, on a bright note if it can be called that, it still remained the market leader.

Even Avid (Association of Vehicle Importers and Distributors) absorbed a terrible blow as demand fell 50.0 percent with only 50,51 units sold from

January to July.

But ever the perennial optimist that she is, Avid President Fe Perez-Agudo said: “Given that we have already bottomed out in the first semester, we believe the second half of the year will be better assuming there are no further lockdowns past August 18. Our focus now is to win back consumer confidence and give them the best value during these pandemic times.”

Parallel to this, I like what lawyer Albert B. Arcilla, the president/CEO of Chevrolet Philippines-The Covenant Car Co. Inc., told the Inquirer’s Tessa R. Salazar recently: “As soon as quarantine restrictions eased up and mobility requirements increased, we have seen an increased interest in the different segments of the brands we distribute—Chevrolet and MG…We at TCCCI acknowledged the new dynamics and needs of the motoring public so we established various aftersales programs aligned with our commitment to deliver vehicle ownership experiences that are unique to both MG and Chevrolet.”

In dire times, fighting spirit matters.

Isuzu in Pagadian City

WHILE nobody’s looking, Isuzu Philippines Corp. (IPC) opened

recently its 43rd dealership and third Isuzu Outlet Standardization (IOS) dealership facility in Pagadian City, Zamboanga del Sur. What a bold move, coming at a time when the industry is reeling from the pandemic.

On August 7, IPC executives and North-Min Automotive Dealership Inc. NMADI) officials presented a walk-through of Isuzu Pagadian in Barangay Tiguma, one of fastest-growing commercial centers in Pagadian City.

The IPC statement said the dealership is also a satellite of Isuzu Butuan.

Its floor space of 3,871 sq. m houses a four-vehicle showroom display, service bays that can accommodate five light commercial vehicles and two commercial vehicles, a wash bay and a wheel alignment facility, and five slots for body repair and paint works.

During the virtual presentation, IPC President Hajime Koso said: “The addition of a new Isuzu dealership in our rapidly expanding network is a strong testament to the growing preference for the Isuzu brand as we continue to widen our reach to our customers in Region 9. This is another major milestone that we share with our new dealer partner North-Min Automotive Dealership Inc., and we look forward to serving our customers

in through Isuzu Pagadian.”

Mr. George Ongchua, Isuzu Pagadian general manager, said: “Isuzu is a renowned automotive brand in Mindanao. Its trucks and light commercial vehicles have proven time and again that they are perfectly suited to the varying and challenging terrains and road conditions of Mindanao.”

PEE STOP

Honda is coming up with a device that collects dusts, molds, volcanic ash and cigarette smoke. The CAF (Cabin Air Filter) also improves cabin air quality as it filters out external and internal pollutants to ensure your vehicle’s air-conditioning system safe, according to Honda’s Arianne Colene L. Jalalon.… Since I’m beginning to love Zoom as the “new normal” for car launches today, I’ll join BMW President Spencer “ASY” Yu today in the BMW 7 Series launch at 7:20 p.m. See you, ASY… The Corolla Cross was also launched via Zoom on August 20, proving once more that Toyota, pandemic or no pandemic, is as determined as ever to keep its lofty ranking as the world’s No. 1 carmaker. The Corolla has been Toyota’s undisputed icon of long standing.

Ford brings in the all-new Territory Story by Randy S. Peregrino

F

OR D Phi l ippines recent ly launched its latest addition to the blue oval’s SUV lineup in the country—the all-new Ford Territory. Engineered and designed by Ford, the newest SUV combines a sleek and stylish look, impressive performance, and smart and safe technologies that will offer a unique driving experience to young professionals and starting families.

Conceived by a joint venture between Ford Motor Co. and Jiangling Motors Corp., the Ford Territory represents the brand’s known and tested DNA in its design, engineering, and capability when it comes to highest global quality standards. “The Ford Territory will boost our growing SUV lineup as a new product born out of Ford’s long-standing heritage and expertise in the utility segment,” said PK Umashankar, president and managing director, Ford Philippines. “We are confident that the Ford Territory will offer a new driving experience to Filipino customers as a modern, spacious and technologically advanced SUV that delivers great value.”

The Territory’s contemporary appearance and look result from the brand’s significant influence through its Ford Design Studio in Melbourne, Australia. Further, rigorous tests have been performed at Ford’s testing centers in Nanjing, China, and at the Geelong Proving Grounds in Melbourne, Australia, to meet Ford’s stringent engineering and quality standards. As a result, the suspension mechanism was fine-tuned, along with its handling and NVH (noise, vibration, and harshness).

Offered in Titanium+ and Trend variants, the Territory boasts an urban-ready design highlighted by standard LED illuminations such as headlamps, daytime running lamps, and tail lamps. It has an auto on/off headlamps with follow me home feature, front and rear fog lamps, panoramic moonroof, rear spoiler, and roof rails.

The interior, meantime, offers a premium and refined element. For one, seats are wrapped in perforated leather material. Then there is Smart Keyless Entry with Push Button Start, leather steering wheel with mounted controls, and power door lock with central locking. Moreover, there are speed sensing door locks, rearview mirror with auto-dimming/high-mount USB port, a leather-covered center console

with dual-lid opening, sunglass holder, seven cup and bottle holders, plus a 12-volt power outlet.

Exclusive to the Titanium+ variant are 18-inch alloy wheels, gloss black with chrome inserts on the front grille, rain-sensing front windshield wipers, power-folding mirrors, puddle lamps, and chrome exterior door handles. There are also heated and cooled front seats, a 10-inch fully digital display instrument cluster with three themes (Normal, Sport, and Fashion). Moreover, there’s tilt and telescopic steering wheel adjustment, power windows with one-touch up/down function on all windows, and ambient lighting with seven color options that complement every mood.

Powertrain-wise, the Territory’s engine was carefully designed with Ford engineers in Europe. Motivation comes from a 1.5-liter EcoBoost enMeet the all-new Ford Territory compact SUV. Ford Philippines

gine generating 141 hp and 225 N-m of maximum torque. It is mated to a CVT transmission with Sport mode.

As for other features, the Territory is equipped with standard 10-inch touchscreen infotainment with an adjustable quad view, Apple CarPlay & Android Auto compatibility with four USB ports. It is paired with multiple speakers (eight for the Titanium+ and six for the Trend) plus wireless charging (Titanium+).

Ford’s newest SUV also comes with Ford Co-Pilot360 driver-assist tech (Titanium+). It includes Active Park Assist with parallel-parking, perpendicular parking (segment-first), 360 Degree Around View Monitor, Adaptive Cruise Control with Forward Collision Warning, Autonomous Emergency Braking, Blind Spot Information System and Lane Departure Warning.

As for safety, both variants are equipped with Electronic Stability

Control, including ABS, EBD and Traction Control, Hill Launch Assist, six airbags, rear parking sensors (front and rear parking sensors available on the Titanium+ variant), and Tire Pressure Monitoring System with individual tire pressure display. Both options are also equipped with High Mount Stop Lamp and Child Seat ISOFIX Anchorage Points.

The all-new Territor y comes Ruby Red, Diffused Silver, and Panther Black (both variants), Star White (Trend), Crystal Pearl White (Titanium+), and Moonstone Blue (Titanium+). The Trend variant is priced at P1.179 million, while the Titanium+ version is valued at P1.299 million. As a launch offer, all customers purchasing the Ford Territory up to September 15, 2020, will get a free three-year scheduled service plan (SSP) for a worry-free ownership experience.

Introducing the Lexus Remote Guest Experience

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The top spec’s premium cabin. Ford Philippines

EXUS takes pride in the hospitality that it shows its customers at the Lexus Manila dealership.

This spirit of Japanese hospitality—otherwise known as Omotenashi—is at the center of the Lexus brand after all. Taking care of the Lexus customer is paramount, so the necessary precautions (thorough disinfection, mandatory face mask use, social distancing guidelines, and strict temperature checks) have already been put in place early on to elevate Lexus Manila’s safety standards amid this global pandemic.

To further enhance the hospitality that Lexus extends to its customers, the brand is offering a unique way of showcasing its products. The Lexus Remote Guest Experience, where customers who want to get to know the Lexus lineup of vehicles intimately can do so from the comfort and security of their own homes. It’s a series of guided 360-degree walkthrough videos which will make users feel the same experience as they would when in the Lexus Manila showroom, inside of the vehicle, and with a sales consultant by their side.

There’s a certain magic that comes from visiting the Lexus Manila showroom and seeing the stable of vehicles up close; hearing their engines; sitting down in and feeling their masterfully crafted interiors; and examining the intricate details of the sculpted bodywork. Chatting with knowledgeable sales consultants about the finer points of each model leaves visitors with a deeper appreciation of the craftsmanship and engineering behind every Lexus and is a highlight of every customer’s visit as well.

The Lexus Remote Guest Experience will deliver the same feeling to you—regardless of where you are.

You may experience it yourself by visiting this link: https://fal.cn/39Nda. Lexus sales consultants will guide you through the unique features of every car, just like they would at the Lexus Manila showroom. And when you are

ready to buy the Lexus model you desire, Lexus also offers a hassle-free contactless purchase journey called Lexus Remote. (Link: https://fal.cn/39Ndc).

Sales consultants will guide you through the NX, which has been Lexus’s best-selling model in its segment since its introduction. It remains to be a favorite, even until today. It comes in three variants: the NX 300, NX 300 F-Sport, and the NX 300 Self-Charging Hybrid. The F-sport has a 2.0L direct-injection turbocharged gasoline engine, with an all-wheel drivetrain and an intelligent 6-speed automatic transmission.

Get to know the RX as well, the pioneer of the luxury SUV segment, and one of the most popular SUVs in the Philippines. It comes in four different variants: the RX 350, the RX 350 F-Sport, the recently introduced RX 350 3-Row, and the RX 450 Self-Charging Hybrid. The Lexus Remote Guest Experience will walk you through all of the RX’s features, including the multimedia touchscreen which offers control of other functions of the RX such as the Lexus Climate Concierge and the 15-speaker Mark Levinson Sound System.

And then there is the ES 350—Lexus’s most popular sedan. It offers spaciousness and refinement with a coupe-like silhouette. The ES is powered by a 300 brake horsepower 3.5-liter V6 engine mated to an 8-speed automatic transmission. You will notice its low, wide stance, and a head-turning fascia, especially with its unique waterfall-inspired Lexus spindle grille.

How we interact is different now, but you can rest assured that Lexus remains true to its humancentered approach by reaching out to its customers in this unique way. The world has changed and our daily lives will never be the same again.

Thankfully, some things still remain constant. The spirit of Omotenashi is even stronger than before.

Experience it through the Lexus Remote Guest Experience today.