BusinessMirror December 04, 2020.pdf by BusinessMirror

Shoppers flock to Divisoria in Manila, known as the cheapest bargain center in the Philippines, to buy early Christmas gifts. In Baguio City, however, City Hall temporarily shut down its famed night market hours after it opened amid complaints people were not observing physical distancing. ROY DOMINGO

Thursday, December 3, 2020 Vol. 16 No. 56

P25.00 nationwide | 2 sections 20 pages |

JFC SETS 10-YR GOALS:

$50-B BUSINESS, 3-M JOBS By Elijah Felice E. Rosales

PHL readies return to offshore bond market

@alyasjah

HE Joint Foreign Chambers of the Philippines (JFC) has set an objective of securing $50 billion in investments and creating 3 million jobs for the country in the next 10 years.

By Tyrone Jasper C. Piad

Speaking on behalf of JFC, Peter W. Hayden, president of the American Chamber of Commerce of the Philippines, on Tuesday announced the group is targeting to bring in $50 billion worth of new investments into the country up to 2030. These FDI, he added, should generate at least 3 million additional jobs for Filipino workers. The JFC achieved the goals it marked in 2010, at the launch of the first Arangkada Philippines Forum, of pulling $10 billion in foreign direct investments (FDI) and adding 1 million jobs for up to 2020, Hayden reported. As such, he said the JFC decided to raise the roof consistent with the forum’s title, “Arangkada,” to accelerate in Filipino. Hayden argued the new targets can only be achieved if the government enforces reforms across the board, especially in bringing down the cost of doing business in the Philippines at a time the FDI competition is tightening in Southeast Asia. Continued on A2

T A vendor in Quiapo, Manila, arranges his vegetables for display on Wednesday. Prices of vegetables have risen considerably since three successive typhoons destroyed huge parts of the country’s food baskets in Luzon. Prices of Sili (the native chili pepper) has gone up to as much as P500 per kilo—both for the siling labuyo and siling haba varieties. They used to fetch only P80 to P100 per kilo. NONIE REYES

BSP TO ‘PULL OUT ALL STOPS’ TO HELP COVID-HIT LOCAL MSMEs By Bianca Cuaresma

@BcuaresmaBM

ANGKO Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said they are looking at implementing more measures to aid local micro, small and medium enterprises (MSMEs) in their recovery after being badly hit by the pandemic. Speaking at the virtual launch of the Citi Microentrepreneurship Awards (CMA) 2020, Diokno said more than ever, it is vital to sustain local microentrepreneurs who provide essential products and services in the “last mile.” “Predominant in low-income areas and serving as engines driving local economies, microentre-

preneurs also nurture swathes of the Filipino population depending on them for post-pandemic recovery and rebuilding,” Diokno said. “Hence, the BSP is pulling out all the stops to support micro entrepreneurs and SMEs,” he added. MSMEs account for 99.5 percent of local business enterprises, 62.4 percent of total employment in the country, and 35.7 percent of gross value added (GVA). Diokno said they are looking to implement more projects in the pipeline to help facilitate MSMEs’ access to financing and to further understand their behavior and needs. According to the BSP chief, among the BSP’s hallmark MSME projects include the ongoing

building of a Credit Risk Database (CRD), which uses a variety of data to build statistical scoring models to sharpen credit assessment of banks and promote risk-based SME lending. The governor also said they are developing a standard loan application form (SLAF) for small business loans to address sector preference for simplified and streamlined loan application requirements. To f u r t her u nderst a nd MSMEs’ needs, Diokno said the BSP partnered with stakeholders for the upcoming study to inform strategic interventions toward developing a supply chain finance (SCF) market in the country. Continued on A2

@Tyronepiad

HE Philippine government is tapping the dollar bond market anew to raise additional funds for budgetary support as the economy continues to grapple with the impact of the pandemic, coupled with the recent onslaught of typhoons. The Bureau of the Treasury (BTr) is set to sell benchmark-sized 10.5year and 25-year dollar-denominated senior unsecured fixed rate notes. The bonds, which have a settlement date of December 10, are set to mature on June 10, 2031 and December 10, 2045. S&P Global Ratings assigned a “BBB+” long-term foreign currency rating on the offering. Moody’s Investors Service gave a “Baa2” rating, which mirrors the Philippines’s issuer rating. Fitch Ratings, meanwhile, rated the issuance with “BBB,” which is in line with the country’s long-term foreign currency issuer default rating. “The notes represent direct, general, unconditional, unsecured, and unsubordinated obligations of the sovereign, and rank equally with the Philippines’s other unsecured and unsubordinated debt obligations,” S&P said in a statement on Wednesday. With the offering, ING Bank Manila Economist Nicholas Antonio T. Mapa and RCBC Chief Economist Michael L. Ricafort said the Philippines is continuing to build up its war chest to fight the pandemic. Apart from the Covid-19 response, Ricafort said the proceeds can also be allocated to other government spending, such as infrastructure, to boost the economy. See “PHL,” A2

PESO exchange rates n US 48.1100

n japan 0.4613 n UK 64.5540 n HK 6.2062 n CHINA 7.3227 n singapore 35.9808 n australia 35.4523 n EU 58.0736 n SAUDI arabia 12.8276

Source: BSP (December 2, 2020)

News

BusinessMirror

A2 Thursday, December 3, 2020

JFC SETS 10-YR GOALS:$50-B BUSINESS, 3-M JOBS Continued from A1

Nabil Francis, president of the European Chamber of Commerce of the Philippines, pointed out the economy can no longer afford a repeat of what happened in the legislation of the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE) bill. The CREATE bill had to be filed thrice in Congress—first as the Tax Reform for Attracting Better and High-Quality Opportunities, or Trabaho, then as the Corporate Income Tax and Incentives Rationalization Act, or Citira—before it slipped through both legislative houses. Francis said this stirred uncertainty among investors to the detriment of FDI inflows to the country. “We have the potential,”Francis made clear, “but on the other hand we have to be in a position to unfold this potential,” a statement that was echoed by fellow industry leaders. Further, Francis warned the Philippines will fail to hit these JFC targets if the government keeps on changing the rules and regulations in doing business. He called on policy-makers to prioritize the rollout of infrastructure projects, passage of liberalization bills and improving the investment environment for the country to catch up with its regional rivals. Julian H. Payne, president of the Canadian Chamber of Commerce of the Philippines, also said cutting the corporate income tax (CIT) as packaged in the CREATE bill is just one of the several reforms the government needs to enforce to magnet FDI here. He listed, among others, the need to complete public infrastructure and arrange new free trade agreements to enhance the Philippine pitch to foreign investors. Without these moves, it will be difficult for the country to entice multinationals to locate here, particularly those packing up from China to transfer factories to Southeast Asia, Payne said. Based on the World Investment Report 2020, FDI registered in the Philippines last year fell by more than 24 percent to $4.99 billion, from $6.6 billion, to mark the second consecutive year the country endured a double-digit decline. In the region, the Philippines obtained the fifth highest FDI for 2019 to trail Singapore’s $92.08 billion, Indonesia’s $23.42 billion, Vietnam’s $16.12 billion and Malaysia’s $7.65 billion. As much as recovery is desired, capital inflows are seen to worsen this year with the pandemic infecting Asia’s supply chains.

PHL…

Continued from A1

“The new bonds should be wellreceived by the market with Philippine authorities looking to secure funding at very attractive rates,” Mapa said. However, Mapa said the “bigger question for the government . . . will not be their ability to raise funding both globally and domestically, but rather their willingness to part with their loan proceeds and move to accelerate spending to support the economy floundering in recession.” In October, government spending slipped by 6.84 percent to P289.6 billion from P310.8 billion in the same month last year. The ING economist added that the projected inflow of dollar borrowings will bode well for the peso in the near term. According to data from the Bankers Association of the Philippines, the local currency ended flat at P48.05 on Wednesday.

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EO lets FDA issue Covid-19 vaccine emergency clearance By Samuel P. Medenilla

@sam_medenilla

HE Food and Drug Administration (FDA) will soon be able to approve in less than a month the local use of vaccines and any drugs for the novel coronavirus disease (Covid-19).

The new issuance is expected to further speed up the implementation of the proposed government Covid-19 vaccination drive next year. On Tuesday, President Duterte finally issued Executive Order (EO) 121, which gave FDA the power to issue emergency use authorization (EUA) for Covid-19 vaccines and drugs. “An EUA issued pursuant to this Order shall be valid only within the duration of the declared public health emergency due to Covid-19, without prejudice to the discretion of the FDA Director General to revisit or revoke the same, as may be appropriate, to protect the general public health and safety,” Duterte said in his three-page issuance.

Faster approval

The EUA aims to reduce the processing time for the approval of Covid-19 drugs and vaccine from six months to just 21 days.

Duterte said the EUA can only be issued to drugs and vaccines, which have evidence of preventing Covid-19; have benefits which outweigh its potential health risks; and there is no adequate or approved at available alternative for it. Manufacturers of Covid-19 vaccines and drugs, which would like to apply for an EUA “should demonstrate compliance with current Good Manufacturing Practices and accompanied by an undertaking by the manufacturer to complete the development of the drug and vaccines, among others.” EUA applications will be first evaluated by the government’s vaccine expert panel, before they could be approved by FDA. The approval of the EUA may make use of the decision of international regulatory authorities such as the World Health Organization (WHO) and the United States-Center for Disease Control (US-CDC). “Outside clinical trials and except

in cases where a Compassionate Special Permit is issued, no unregistered Covid-19 drug and vaccine may be manufactured, sold imported, exported, distributed, or transferred without EUA,” Duterte said . EO 121 will take effect immediately after being published in the Official Gazette or in a newspaper of general circulation.

On track

In an interview with PTV on Wednesday, Chief implementer of the government’s national policy on Covid-19 Carlito G. Galvez may be able to secure its supply of vaccine by the first quarter of next year if they can conclude the necessary agreements this month. “If we will succeed in negotiating with two to three vaccines from different countries, we might be able to get it during the first quarter,” Galvez said. He noted this will allow them to be on track with the national Covid-19 vaccination road map. Currently, the vaccine czar said among the manufacturers that may start selling their Covid-19 vaccines by early next year are those from two Chinese manufacturers: Sinovac and Sinopharm. He said they are also closely monitoring the Covid-19 vaccine from Moderna and Pfizer, which may soon get advance clearance through the US-FDA for emergency use authorization. In the United Kingdom, the vaccines from Pfizer and AstraZeneca

may also soon be approved by regulators, Galvez said.

Acute supply

But even if the said vaccines do become available in the global market earlier than anticipated, which is on May 2021, Galvez admitted the government may only be able to secure a small portion of the said items. He explained why: 80 percent of the doses of Covid-19 vaccines to be produced by the said manufacturers have been procured in advance by rich countries. Two percent of the said supply will be secured by the Covid-19 Vaccine Global Access (Covax), where the country is a participant. This leaves developing countries like the Philippines only 18 percent of the Covid-19 vaccines supply worldwide to purchase, Galvez said. With the “acute” scarcity in the sources or supply of vaccine, “the realistic scenario is we will be able to roll out [a] vaccine [in] the middle of the second quarter,” Galvez said. But, he added, “we are trying hard to get vaccines especially from our diplomatic friends like China, Australia and other countries like US during the first quarter [of 2021],” he added. He explained the government is rushing to launch its Covid-19 vaccination drive as soon as possible next year to address the growing “emotional fatigue” of Filipinos from months of quarantine, as well as to allow the country to recover from the pandemic.

TREASURY MAKES FULL AWARD OF P30-B 3-YR BONDS By Bianca Cuaresma

@BcuaresmaBM

HE Bureau of the Treasury (BTr) fully awarded the reissued P30 billion on offer for 3-year Treasury bonds (T-bonds) during its auction on Wednesday. The security fetched an average rate of 2.169 percent, 5.5 basis points lower from the last

Third offering The dollar bond transaction is the third time that the Philippines launched a global bond offering this year. In January, the government’s first offering raked in at least €1.2 billion as it returned to the euro debt market. The issuance consisted of three-year and nine-year euro-denominated securities. BTr raised additional $2.35 billion in April after issuing 10-year and 25-year dollar-denominated global bonds. Majority or $1.35 billion of the total proceeds came from the 25-year issuance. The government raised $1.5 billion from dollar-denominated bonds and sold €750 million worth of euro bonds last year. Meanwhile, BTr announced in October that it has already shelved plans to issue renminbi-denominated Panda bonds and yen-denominated Samurai bonds this year. This, after the Bangko Sentral ng Pilipinas approved the P540-million advance credit to temper the government’s budget deficit. The government, to recall, raised 2.5 billion renminbi or P19 billion from its second Panda bond issuance and ¥92 billion or P44.3 billion from its Samurai bond sale in 2019. In the local debt market, the national government is set to borrow P120 billion this month, which was lower compared to P140 billion it programmed in November. The borrowing comprises P60billion Treasury bills and P60billion Treasury bonds.

reissuance which fetched an average rate of 2.224 percent. National Treasurer Rosalia V. de Leon told reporters that the “demand for the belly of the curve remains strong” for T-bonds, bringing the rates lower during the week’s auction. The auction attracted total tenders of P68.5 billion, more than 2.2 times oversubscribed from the P30 billion offer.

With a remaining term of 2 years and 9 months, the reissued T-bonds are set to mature on September 10, 2023. T he Treasur y earlier announced that it has programmed to borrow P120 billion from the local debt market this month. P20 billion worth of T-bills with a 91-day tenor was up for sale on December 1, while 182day and 364-day tenors are up

for sale on December 7 and December 14, respectively. Meanwhile, another P30 billion worth of 7-year T-bonds will be sold on December 15. “With its decision, the committee was able to raise the full program of P30 billion, bringing the total outstanding volume for FXTN [Fixed Rate Treasury Notes] 3-25 to P148.9 billion,” the BTr said.

BSP TO ‘PULL OUT ALL STOPS’ TO HELP COVID-HIT LOCAL MSMEs Continued from A1

Earlier this year, the BSP decided to include new loans granted to MSMEs as part of industry compliance with reserve requirements to stimulate lending to the sector. The country’s monetary authority also reduced the credit risk weight of current loans granted to MSMEs and assigned zero percent risk weights for loans covered by government guarantee programs.

FSP fees waived

Diokno has also encouraged fi-

Mayors… Continued from A12

Binay cited the contradicting statements made by government officials on the supposed policy allowing children to enter malls. He said while one official said children would now be allowed to enter malls provided they are accompanied by their parents, another official clarified that the policy would still need ordinances from local governments. “Then another official said it is

nancial service providers (FSPs) to waive fees for PESONet and InstaPay transactions to broaden usage of digital payment streams and make digital payments available for all enterprises, big or small. The governor also lauded Citibank’s efforts to continue with the annual CMA awards amid the pandemic. “This year is a landmark for the CMA program, for being launched amid the Covid-19 pandemic and showcasing the determination of Filipino micro entrepreneurs to succeed at this trying time,” Diokno said.

Diokno and Citi Philippines Chief Executive Officer (CEO) Aftab Ahmed led the launch of the 18th CMA, which aims to give due recognition to outstanding microentrepreneurs. The 2020 edition of the annual ceremony was modified to respond to community needs resulting from the impact of the Covid-19 crisis. This year’s program will be focusing on two main components: Covid-19 rehabilitation support package and recognition of outstanding microentrepreneurs during the Covid-19 crisis.

not the right time to let children inside malls. Ano ba talaga [What is it, really]?,” he said. He then suggested that government officials meet first and agree before making any official pronouncements. If such meeting is physically impossible because of lockdown restrictions, Binay said these officials can always talk using group chat apps on their mobile phones. “Or better yet, deliberate thoroughly, have everyone on board, and prepare the talking points for those who will speak to media. Much better, just have one person talk,” he added.

The former Vice President said any policy intended to further ease lockdown restrictions first imposed in March should always have the safety of the public in mind. He reminder government officials and the public that after nine months, the country has yet to flatten the curve. “We are still on the first wave. Let us not forget that,” he said. With research groups and experts warning of a surge in Covid infections after the Christmas season, Binay said he hopes government is already making preparations to handle such a situation.

DOLE-PSA poll shows mass breaches of Kasambahay Law By Samuel P. Medenilla

@sam_medenilla

RECENT survey conducted by the Department of Labor and Employment (DOLE) and the Philippine Statistics Authority (PSA) on the status of household service workers (HSW) nationwide revealed mass violations of Republic Act (RA) 10361 or the Kasambahay Law. In an online press briefing on Wednesday, DOLE’s National Wages and Productivity Commission (NWPC) reported that only 2.5 percent or 35,455 of the 1.4 million HSWs nationwide have written employment contracts. Likewise, it also reported that 83 percent of the HSWs did not have any social welfare benefits from the Social Security System (SSS), Philippine Health Insurance Corporation (PhilHealth), and the Home Mutual Development Fund, more popularly known as Pag-IBIG Fund. Both written employment contracts and social welfare benefits for HSWs are mandated under RA 10361. The survey questions about HSWs were included in the regular labor survey conducted by PSA last year, which covered 40,000 households nationwide.

Lack of awareness

NWPC Executive Director Maria Criselda R. Sy said she was particularly alarmed with the large number of HSWs, who have no written employment contract since it shows many people are still not aware of the provisions of the Kasambahay Law. “The law was already in effect for 7 years but up to now, despite advocacies done with regard to [implementing] the contract of kasambahay to make sure all the provisions of the law are being complied with, [the provision] is still not being implemented,” Sy said. Director Ma. Karina PeridaTrayvilla of the Bureau of Workers with Special Concerns (BWSC) stressed the importance of the written employment contract since it contains the rights and obligation of HSWs and employers. She noted the copy of the said contracts should have been submitted to local barangays, to ensure its provisions are enforced and also to monitor the number of HSWs in an area. Aggrieved HSWs may file a complaint against their employer at DOLE regional offices. Employers who will not execute such contracts with their HSWs, could be fined not less than P10,000 but not more than P40,000. They could also face criminal and civil charges for the said violations.

Possible solutions

Labor Secretary Silvestre H. Bello III ordered the Domestic Work Inter-Agency Committee to convene and determine how to boost the compliance with the RA 10361. Trayvilla said a possible solution would be for DOLE to improve its inspection of households, where there are HSWs. However, she admitted that DOLE’s labor inspection system is not designed for such a policy. “The labor inspector [may] only enter a home if they have a warrant for it,” Trayvilla said. As an alternative to actual physical inspection, she said the employers may just be required to submit proof of compliance to the RA 10361 in their barangays. For her part, Sy is advocating for an intensified advocacy of the Kasambahay Law instead. “When we presented the result of the survey to stakeholders, one of their concerns is that the kasambahay themselves are afraid to sign a contract. This means they are still not aware [of RA 10361],” Sy said. This was supported by data from PSA, which showed only about 41 percent of the 1.4 million HSWs are aware of the Kasambahay Law.

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Family planning benefits 8-M Filipino women in 2019–Popcom By Elijah Felice E. Rosales @alyasjah

EARLY 8 million Filipino women have availed of family planning as provided by the reproductive health law, according to a report, and this prevented 2.8 million unintended pregnancies through the use of contraceptives. Based on the 2019 Responsible Parenthood and Reproductive Health (RPRH) Law Report, the number of women who made use of modern family planning methods doubled to about 8 million last year, from 4 million in 2012, when the measure was enacted. The increase was attributed to the programs and services activated by local governments. The prevalence rate for contraceptive use among women reached 58 percent, about 7.8 million women, nearing to hit the 60 percent to 65 percent range set under the Philippine Development Plan 2017-2022. The report assessed 2.8 unwanted pregnancies and 669,000 unsafe abortions were prevented as a result of family planning use. Further, it averted the probable deaths of 1,470 mothers and infants due to maternal complications. Juan Antonio A. Perez III, executive director at the Commission on Population and Development (Popcom), said local governments should be credited for the increased usage of family planning nationwide, as they are responsible for enforcing the programs and services and sending health workers on the ground level. Proof to this, provinces, cities and municipalities last year spent around P1.9 billion to carry out measures mandated by the RPRH law. Broken down, municipalities used 63 percent of the total expenditures, while cities and provinces accounted for 26 percent and 11 percent, respectively. Further, Perez said his agency extends funds to local governments, as well as assistance in the crafting of strategies, dissemination of information and delivery of services, as part of efforts to improve the implementation of the RPRH law. Perez stressed the importance of involving the local government in the rollout of family planning programs and services. He explained it trickles down to the households in a way that it impacts on their income, as a family with just one to three children can allocate for their needs, whether it be food, shelter or education. “A well-provided family, therefore, contributes to poverty amelioration,” Perez said in a statement issued on Wednesday. “In a macroeconomic view, it contributes to overall national development, where families do not have to rely on the government to provide for their everyday necessities,” he concluded. “Thus, funds can be allocated for other basic services.” Apart from the surge in contraceptive users, postpartum visits improved to 62 percent last year, from 57 percent in 2018, and for the same period antenatal care rate jumped to 58 percent, from 53 percent, according to the RPRH law report.

25 Covid-19 cases in Subic firm traced to workers who partied By Henry Empeño Correspondent

UBIC BAY FREEPORT—Employees of a business-process outsourcing (BPO) firm here have found out rather too late that it was not yet okay to party. Subic Bay Metropolitan Authority (SBMA) Chairman and Administrator Wilma T. Eisma said 25 workers of a company registered in this free port have been infected with the new coronavirus disease (Covid-19) after being exposed to coworkers who attended parties two weeks ago. “As of latest count, 25 employees have tested positive for Covid-19 infection out of 65 workers who had to be placed on quarantine,” Eisma announced on Wednesday. “Our health experts here have determined that were it not for

parties that workers attended, all these hassles of quarantine and work stoppage would not have happened,” she added. The SBMA did not mention the name of the company in its statement but described it as a provider of BPO services. The firm reportedly has more than 500 call center agents in its employ. According to Dr. Solomon Jacalne, who heads the SBMA Public Health & Safety Department, the surge in Covid-19 cases at the BPO firm was traced to two parties that employees attended last November 14. He said one was a beach party at Baloy, a popular beach area in Olongapo City, and the other was a pool party held in San Marcelino, Zambales. Jacalne said contact tracing indicated that the employees who

MILITARY CONDUCTS WAR EXERCISE NEAR CHINA-OCCUPIED SCARBOROUGH SHOAL

tested positive of Covid-19 either attended the parties or were exposed to coworkers who went to the said social gatherings. The doctor also pointed out that the unsafe behavior of employees allowed the further spread of the virus in the workplace. “Some were not honest with their health declaration,” he noted. “They didn’t say they were sick and they reported for work just the same because of the company’s no-work-no-pay policy.” Jacalne said the first case was recorded on November 6, but the patient’s two identified close contacts had tested negative. The next two positive cases were known on November 17 a couple who declared as close contacts only those with whom they shared the shuttle bus. “Then there came to be a sudden spike in the following days, from

NAVY war ships conduct Joint Interoperability Exercises in the waters of San Antonio, Zambales. PHOTO COURTESY OF NAVAL FORCES NORTHERN LUZON By Rene Acosta @reneacostaBM

ITH new assets in the inventory of the Navy and the Air Force, the military carried out its amphibious landing and island defense exercises in Zambales where the Scarborough Shoal sits at a shooting distance. The drills were carried out on Wednesday in the waters of San Antonio, Zambales where Scarborough Shoal, which China exercises a de facto control lies more than just 200 kilometers away. The amphibious landing and island defense, participated by land and sea-borne forces and assets, were undertaken under the continuing AJEX DAGIT-PA war games of the Armed Forces of the Philippines (AFP), its first major exercise following its continuous acquisition of assets and equipment. The drills followed a major activity on Tuesday dubbed as jointinteroperability exercises (JIOE) where combined air-to-sea operations by helicopters, ships and other assets of the Navy were practiced, including activities akin to repro-

visioning, which is an irregular occurrence in the West Philippine Sea as Chinese forces often harass Philippine resupplies to its forces in the area. Under the continuing exercises, soldiers have practiced target acquisition for HERMES 450 from Basa Air Base in Pampanga to San Antonio, Zambales, displaying for the first time the tactical capability of the Israeliacquired unmanned aerial vehicle. Soldiers also undertook simulated naval surface fire support; helideck operations; joint intelligence, surveillance and reconnaissance; recovery of AW109 aircraft; over the beach operations; hydro reconnaissance; underwater mine clearing; obstacle breaching; simulated air strike; amphibious assault vehicle launch; ship to objective maneuvers and ship to shore maneuver. The drills were undertaken under Maj. Gen. Edgard Arevalo as AJEX DAGIT-PA exercise director. The war games, the 4th iteration of such exercises but are being held for the first time under a more equipped military, focuses on the AFP’s capability development in maritime security and amphibious operations.

Philippine Embassy in Kuwait’s 20th chartered flight to Manila on November 29, 2020, coinciding with the Philippine commemoration of the 18-day Campaign to End Violence Against Women (VAW). Her airfare was shouldered by the Assistance to Nationals (ATN) Fund of the DFA. Before she left Kuwait, Marites paid a call on Philippine Ambassadordesignate to Kuwait Mohd. Noordin Pendosina N. Lomondot who extended his best wishes to the Filipino. “The Embassy is glad that Marites will finally close this difficult and painful

chapter of her life, and will embrace her 14-year-old son once again after years of working overseas. I pray that with her second life, Marissa’s story and bravery will continue to serve as an inspiration to others in fighting for what is right and just,” Ambassador Lomondot said. Before the special chartered flight’s departure, Embassy officials led by Vice Consul and ATN Head Adrian Audrey L. Baccay and Welfare Officer Llewelyn D. Perez sent off Marites and the 76 other Filipino repatriates at the Kuwait International Airport. Recto Mercene

November 19 to 25. And this was the only time when the employees admitted about the beach and pool parties—when there were already 16 positive cases,” Jacalne said. After the parties were revealed, further investigation by tracers widened the circle of close contacts to a total of 65—all employees of the BPO firm. Out of these, 25 so far have tested positive of the virus. Jacalne added that no other positive case was recorded at the firm in the last seven days and that all the suspect cases are now under quarantine in their respective areas in Zambales, Olongapo City and Bataan and awaiting schedule for RT-PCR test. In the wake of the outbreak, Chairman Eisma ordered further investigation to determine addi-

tional safety measures to be imposed at the BPO firm. Company officials said they have already installed barriers between work stations as early as August and have now positioned their call center agents one workstation apart. It was also learned that with 500 call center agents in its employ, the company intends to expand into a bigger area to comply with Joint Memorandum Circular 20-04-A, which provided for supplemental guidelines from the Department of Trade and Industry (DTI) and the Department of Labor and Employment (DOLE) on workplace prevention and control of Covid-19. Eisma said the SBMA will look into the possibility of leasing out a portion of a nearby building for the expansion area needed by the firm.

Solons, labor group: Security of Tenure Act in Bicam may not spell end of endo

Filipina rape victim wins justice, returns home finally to start new chapter in life

FTER years of waiting, a Filipina rape victim in Kuwait was repatriated to the country last Sunday, reuniting with her family to make a fresh start with the money she was awarded for her victory in the courts. The Department of Labor and Employment on Tuesday said Marites Torijano won the rape and frustrated murder case she filed in 2014 against a Kuwaiti traffic police officer, who was given a death sentence but later commuted to life imprisonment. The Department of Foreign Affairs (DFA) said Marites joined the

Editor: Vittorio V. Vitug • Thursday, December 3, 2020 A3

AWMAKERS and a labor group on Wednesday said the passage of the proposed Security of Tenure Act does not meet a presidential promise to end contractualization in the private sector. Minority Leader Joseph Stephen Paduano, as one of the principal authors of House Bill 6908 during the 17th Congress, said the new bill departs from the original intent of the old bill which was to eliminate “endo.” On Tuesday, the House of Representatives endorsed for Senate approval House Bill 7036, or the proposed Security of Tenure Act, which seeks to strengthen the rights of workers in the private sector. “The current bill, to my mind, will not address the problem on labor-only contracting. HB 6908 outlaws contractualization, while HB 7036 legalizes job contracting. This will complicate the issue due to the very thin line that separates labor contracting from job contracting,” said Paduano. “While manifesting my strong opposition to the bill, let me clarify that on the issue of sub-contracting, it is my position not to totally ban the same. It promotes creation of jobs as well as supports the business of MSMEs [micro small and medium enterprises] for as long as the employees or the sub-contractors have security of tenure,” Paduano added. According to the minority leader, the bill pales in comparison to the provisions of the Labor Code of the Philippines that clearly stipulate the prohibition of abusive workers’ contracts. For her part, Gabriela Rep. Arlene Brosas, who voted against the bill, said House Bill 7036, or the current form of the Security of Tenure bill, actually makes contractualization a rule rather than an exception. Brosas said this measure modifies the definition of regular employees in the Labor Code by deleting the parameter “usually necessary or desirable” and replacing it with a very steep precondition that the jobs being performed are “directly related and necessary.” “This simple change in parameters actually has far-reaching consequences and dooms the hopes of millions of contractual workers for regularization,” said Brosas. The Trade Union Congress of the Philippines (TUCP), for its part, said it cannot support or endorse House Bill 7036, saying the Con-

gress missed a historic chance to correct the decades-long injustice to workers under endo. “As currently worded, it legitimizes the highly exploitative endof-contract or endo work arrangements by perpetuating the falsehood that it is the lack of capital and control, and not the business of labor supply, that constitutes labor-only contracting, which has long been a prohibited practice,” the TUCP said in a statement. TUCP said it has serious concerns over the bill as workers have long fought for an end to contractualization, even after an initial Presidential veto in 2019, only to be presented now with a further watered-down version which will further betray their hopes. “Let it be said at the outset, that the bill is not just a deeply flawed bill, it is fatally flawed and squandered the historic opportunity to correct the decades-long injustice to workers under endo,” it added. It said the essence of the fraud blurring the employeremployee relationship for millions of contractual workers remains unaddressed. “Our position in labor remains firm: Regardless of whether or not the contractor has capital or investments in the form of office or equipment, if all that the contractor does is to recruit and deploy workers, that is labor-only contracting, and is therefore illegal,” it added. The group said the bill specifically legitimizes the setting up of manpower cooperative as a contractor, and as a consequence will allow the perpetuation of contractualization and exploitation. While the bill prohibits shortterm contracts, the TUCP said it specifically added probationary employment as an allowable fixedterm or short-term contract. “It is therefore conceivable, that contractors will use this device to move away from 5-5-5, or 5 month short-term contracts to defeat the regularization of workers, towards 6-6-6, or the sequential use of 6-month probationary contracts to legitimize the practice of neverending probationary status of the worker,” it added. TUCP appealed to the congressional bicameral conference committee to correct those flaws, which will further loosen and expand upon the loopholes and may lead to the proliferation and exploitation of millions of contractual workers. The House Bill 7036 seeks to

amend Presidential Decree 442 as amended, or the Labor Code of the Philippines. Once passed into law, HB 7036 would prohibit “labor-only” contracting except: when the contractor or any intermediary does not have substantial capital or investment in the form of tools, equipment, machineries, and work premises, among others; has no control over the workers’ method and means of accomplishing their work and; the workers recruited and placed are performing activities which are directly related and necessary to the principal business of such employer. The measure also introduces a new provision requiring all persons or entities doing business as job contractors to obtain a license from the Department of Labor and Employment, including compliance with the listing requirements for such licensing, determining the period of validity of the license, and stating the responsibility of the licensee to submit an annual report. It also declares that violation of substantive or procedural due process is equivalent to illegal dismissal. In addition, the entitlements of an illegally dismissed employee are broadened by including the payment of social welfare contributions and benefits to said employee. The bill amplifies and clarifies the classification of employees by: mandating regular employment as the general rule; and prohibiting fixed-term employment except in cases of overseas Filipino workers, workers on probation, relievers who are temporary replacements of absent regular employees whose engagements shall not exceed six months, project employees, and seasonal employees. The bill also provides that the rights and benefits of relievers, project, and seasonal employees are at par with regular employees consistent with the principle that all workers must be treated alike both as to rights enjoyed and obligations assumed. The measure provides administrative penalties of a fine and possible closure of business for those engaging in prohibited end-of-contract arrangements, and labor-only contracting. At present, there is no imposable penalty for engaging in laboronly contracting except the simple declaration of ostensible employees of the contractor as employees of the principal employer. Jovee Marie N. Dela Cruz

A4 Thursday, December 3, 2020 • Editor: Vittorio V. Vitug

Economy BusinessMirror

BIR’s Oplan Kandado nets P547.9M from ‘tax cheats’ in 1st 9 mos of ’20 By Tyrone Jasper C. Piad @TyronePiad

HE Bureau of Internal Revenue (BIR) collected P547.9 million worth of taxes in the first nine months from commercial establishments tagged as tax code violators. In a statement from the Department of Finance (DOF) on Wednesday, BIR noted that 178 commercial establishments were padlocked in January to September for failing to register or pay the correct amount of taxes. The bureau also lodged 14 cases before the Court of Tax Appeals (CTA) to collect around P338 million in tax liabilities from different respondents. BIR Deputy Commissioner Arnel SD. Guballa added that the 72 complaints the bureau filed before the Department of Justice (DOJ) are now undergoing preliminary investigation. The cases involve a combined estimate of P3.4 billion in tax liabilities.

Guballa said the nine-month operations were in accordance with the Revenue Memorandum Order (R MO) 3 -2009, or the “Oplan Kandado” Program. This BIR initiative is aimed at deterring violations in the National Internal Revenue Code. In 2019, the program resulted in collection of P1.92 billion from temporary closure of 743 establishments which violated various tax regulations. The BIR’s performance last year under the Oplan Kandado program showed 140.76-percent increase from tax collections of P799.47 million in 2018 and a 218.88-percent surge from 233 closures of establishment in the same period. Last year, the BIR also filed 347 complaints before either the DOJ or CTA as it ramps up campaign against tax evaders. The amount involved in the cases is around P24.02 billion in total. It also lodged 209 cases for preliminary investigations before the DOJ in 2019 for tax liabilities from

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Govt lifts burden from ecozone firms to provide shuttle service to workers By Samuel P. Medenilla @sam_medenilla

FILE photo shows taxpayers settling their tax dues at the Makati office of the Bureau of Internal Revenue. NONIE REYES

various individuals and corporations amounting to P19.06 billion in total under BIR’s Run After Tax Evaders program. This was an improvement when it filed 197 cases involving P15 billion worth of tax liabilities in 2018. BIR, meanwhile, filed 38 cases

in CTA last year, which is more than triple the 12 cases it lodged in the court in 2018. Meanwhile, the total amount of tax liabilities arising from the cases last year was P4.94 billion, markedly higher than the estimate of P851.57 million in 2018.

ARGE companies in economic zones will no longer be required to provide shuttle services to their employees under a new joint issuance of the Department of Labor and Employment (DOLE) and Department of Trade and Industry (DTI). Instead the ecozone firms are now only “enjoined” to commission services for their workers. In their Advisory 20-03, Series of 2020, DOLE and DTI made the decision amid the growing availability of public transportation as the government eases quarantine restrictions. Under the new issuance, companies must implement a “one-seat apart” rule in the shuttle they will provide for their workers. A full seating capacity will only be allowed if the necessary “dividers” will be put in place in the shuttle. Both agencies also stipulated

the contact tracing form to be accomplished by the passengers of the said shuttle service must only be limited to name, contact number of a passenger in line with the Data Privacy Act. The new issuance, which was signed last Sunday, urged employers to make use of the official digital contact tracing app of the government, StaySafe.ph. DOLE and DTI said the digital form will not make the contact tracing efforts of private companies more efficient and secure, but also ensure its contents will be integrated in the Covid-19 Documentary Repository System (CDRS) of the Department of Health. Last September, both agencies mandated large-sized private establishments with total assets of above P100 million located inside special economic zones to provide shuttle services employees after the government stopped the operations of public transportation to contain the spread of Covid-19.

Public, private sectors set to launch Boracay to shift to antigen testing once ‘Digital Pilipinas’ drive on Dec. 10 health and safety protocols are tightened By Roderick L. Abad Contributor

@rodrik_28

OVERNMENT agencies and information and communications technology (ICT) industry stakeholders will launch on December 10 a country-wide initiative to push further digital transformation from local to the national level. The National ICT Confederation of the Philippines (NICP) and the Department of Information and Communications Technology (DICT), with the support of the Department of Trade and Industry (DTI), the Department of the Interior and Local Government (DILG,) and GeiserMaclang Marketing Communications Inc. (GMCI), will kick off the “Digital Filipino, Digital Cities, Digital Philippines” campaign through a forum on how going digital will help the country achieve economic prosperity. To be attended by national and local government leaders, industry captains, industrialists from foreign chambers of commerce and media professionals, the one-day event will be the single, largest, most important virtual conference that will also tackle head on the issues of business, technology, and countryside development. Dig ita l transfor mation remains a long journey for the Philippines, according to DILG Under-

secretary Epimaco Densing III. “Unfortunately, my estimate is, as of today, we’re only at 30 percent,” he told reporters during the recent webinar for the upcoming online summit. With this is mind, the “Digital Pilipinas” campaign is envisioned to bring improvement and economy to the countryside. “We cannot live off cities like Cebu and Manila, but we need more cities like Davao,” NICP President Michael Tiu Lim noted, while suggesting a way to do it is to “upskill the current work force so that we would have the necessary talents for them to hire.” While only a few of the local government units (LGUs) has already adopted the digital age, some are either in the process or about to embrace it. “There are other LGUs that are very much active in terms of their digital transformation internally,” DICT Director Emmy Delfin said, while noting that a lot of them “are really stepping up and, in fact, Covid-19 has helped accelerate their move to really embrace digital transformation.” The Philippines has seen significant progress in improving Internet connectivity, boosting digital security and regulation, and supporting tech education. In 2018, the Ease of Doing Business Act was signed and made effective to empower small and medium enterprises (SMEs) to

shift to the digital age, while LGUs are mandated to computerize their basic licensing and permit system until 2022. Before digitalization, it’s estimated that the Philippines has been losing at least $2 billion to $3 billion in potential investments, or equivalent to 100,000 to 200,000 jobs yearly, because many of the foreign investors have been frustrated in the way of doing, registering or opening their business here. “If we can improve our ease of doing business, if we can improve our information and communications technology, then putting the infrastructure, getting the right mindset of the local chief executives, including the ordinary Filipinos, we can really move and, hopefully, bring the country prosperity,” Densing said. Investment in the upskilling of the individual Filipino can spiral into regional growth and then build into a massive nationwide effort. “What we want to communicate is that there is now a national movement to make tech. What better way to start ‘tech-ing’ up the country than by tech-ing up the communities and our cities. We envision that there will no longer be a digital divide, regardless of where you are: no municipality is ever too far because of technology,” stressed Amor Maclang, “Digital Pilipinas” convener and cofounder of GMCI.

TRB vows to address tollway traffic within two weeks, blames gridlocks on RFID ‘birthing pains’ By Lorenz S. Marasigan @lorenzmarasigan

HE bottlenecks experienced during the maiden launch of the 100-percent cashless transactions program in all expressways in the country was a result of “birthing pains” that should be addressed within the next couple of weeks, officials said on Wednesday. Toll Regulatory Board (TRB) Executive Director Abraham Sales confirmed reports of traffic congestion in all expressways on December 1, when the implementation of the cashless transactions program started. “These are what we call birth pains because it was Day One of implementation of cashless toll collection program. We expected this

to happen because of the following reasons: we observed that there are a lot more motorists getting RFID stickers; then the long weekend; and then there are a lot of motorists that are going to the provinces without RFID stickers,” he said. However, Sales said, he is positive that the situation in the expressways will improve in the next couple of days. “The situation today, Wednesday, is much better. Hopefully in the coming days, the situation gets better— and then we will hit the target of 100 percent cashless transactions in all expressways,” he said. Department of Transportation (DOTr) Assistant Secretary Goddes Hope O. Libiran said the government continues to give leeway to motorists who have yet to have

RFID stickers installed on their cars for cashless transactions. Until January 11, she said, motorists without stickers will not be apprehended and will be allowed to use the expressways, provided they get RFID stickers on ground. “We have decided to implement a transition period from December 1 to January 11 and still maintain RFID stickering lanes even after that. We think the net effect will still be the same,” she said. “The primary reason for pushing for the implementation of cashless transactions now is because we want to protect the health and safety of our citizens amid the Covid pandemic.” The government is moving toward the digitalization of tollways with interoperability of payments systems as the last step.

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

OR now, tourists going to Boracay Island will still have to get an RT-PCR test, at least 72 hours prior to their departure from Metro Manila or their home provinces. This was the decision of the Boracay Inter-Agency Task Force (BIATF) which met on the island on Wednesday afternoon at Crimson Resort. Tourism Secretary Bernadette Romulo Puyat announced during an online news briefing that the cost of the RT-PCR tests will be subsidized by the Tourism Promotions Board, the marketing arm of the Department of Tourism (DOT). TPB Chief Operating Officer Anthonette C. Velasco-Allones told the BusinessMirror in a separate Viber message, “We’re still discussing the details [of the subsidy] with UPPGH [University of the PhilippinesPhilippine General Hospital]. We can

perhaps subsidize 50 percent of the RT-PCR cost.” Allones could not yet reveal how much TPB will be allocating for said subsidy. Boracay stakeholders claim that the prohibitive cost of the RT-PCR test is discouraging tourists to vacation on the island. The RT-PCR test costs anywhere from P4,000 to P6,500 depending on the medical facility and speed by which the test results are released. Romulo Puyat pointed out PGH is charging only P1,800 per person for the RT-PCR, and even without the subsidy, “is already very low.” Allones said though, only a few well-off tourists can afford the RTPCR test at PGH, “but a traveling family would benefit from [the subsidized cost].” But the DOT chief did not preclude the possibility of the BIATF allowing antigen testing for Boracay tourists eventually. She said, this was why Mayor Benjamin Magalong, government’s appointed contract-tracing czar, joined the meeting of the BIATF chaired by Environment Secretary

Roy A. Cimatu and co-chaired by Interior Secretary Eduardo M. Año, and Romulo Puyat. “They will transition to use of the antigen test once contact-tracing and safety protocols are in place, care of Mayor Magalong,” said Romulo Puyat. “He will also help Boracay set up an operation center, which will have data analytics, geo-spatial analysis, link analysis, and clinical analytics,” she stressed. During the news conference, the tourism secretary praised Magalong for his own innovative ways in dealing and handling Covid-19 outbreaks in his city. “Baguio City is a model for other provinces to follow,” she said, citing that any Covid case in Baguio now “was not due tourism.” Arrivals on Boracay from January to November was 319,611, compared to 1.88 million in the same period in 2019, according to data from the municipality of Malay. From June 8 to November 25, 2020, the DOT has issued certificates of authority to operate to 253 hotels and resorts, covering 5,731 rooms.

Duque, on the ground, checks health safeguards compliance in public sites By Claudeth Mocon-Ciriaco Correspondent

O ensure that minimum public health standards (MPHS) are strictly followed, Health Secretary Francisco T. Duque III will visit public places in the metropolis as he encouraged other government officials to do the same. In an online forum on Wednesday, Duque stressed that it is better for government officials to see on the ground “the real situation,” especially as the holiday season is fast approaching. On Wednesday, Duque together with DOH Assistant Secretary Elmer Punzalan , Metro Manila Center for Health Development OIC-Director Dr. Corazon Flores, and Celebrity Chef Margarita Fores visited Farmers Market in Cubao, Quezon City to check the adherence to MPHS. This is the first stop of Duque’s plan to visit to popular areas and establishments to deter the potential spike in Covid-19 cases over the holiday season through proactive prevention. “As we continue revitalizing our economy, we have to arm our people

As we continue revitalizing our economy, we have to arm our people with the knowledge to ascertain the associated risk level of their usual activities, and to empower them to make healthy choices for themselves and their communities...this holiday season lest we... endanger our family and friends.

Health Secretary Francisco Duque III with the knowledge to ascertain the associated risk level of their usual activities, and to empower them to make healthy choices for themselves and their communities. This is all the more necessary this holiday season lest we risk losing our gains and endanger our family and friends. With strict observance of our MPHS, tuloy ang Paskong Pinoy,” Duque said. Duque himself went around the market distributing BIDA hygiene kits, and engaged with stall owners, vendors, and shoppers. He emphasized to them the importance of safe food handling to ensure

safety from food and water-borne illnesses, and gave sanitation tips when handling produce and meat products. He also reminded them on the #BIDA Solusyon st rateg ies a nd demonstrated the proper conduct of MPHS such as proper physical distancing, the correct use of face masks and face shields, and correct hand washing technique. “Our stall vendors are stewards of MPHS in their own stalls. As frontliners, they must not only ensure the cleanliness and safety of their products, but of their suking customers, as well,” he noted.

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Esperon: Let’s not politicize or romanticize Jevilyn’s demise By Jovee Marie N. Dela Cruz @joveemarie

HILE expressing sympathy for the death of Bayan Muna Rep. Eufemia Cullamat’s daughter, Jevilyn, the National Security Council (NSC) on Wednesday issued a call not to politicize or romanticize the death of the young woman, stressing that she was a victim of a manipulative armed movement. NSC Adviser Hermogenes Esperon Jr. made statement as the Makabayan bloc filed a complaint before the Commission on Human Rights against the Armed Forces of the Philippines (AFP) for allegedly desecrating the remains of the young Cullamat. But Esperon said it was her own family rather than the military that should be blamed for her death as “her own mother, Rep. Cullamat, and the entire [members of the] family are allegedly supporters of the armed movement being waged by the New People’s Army [NPA].” Esperon also called on allies of the leftist movement to realize that Jevilyn “was deceived into sacrificing her life for a cause lacking legitimacy and noble purpose,” and that “she was a victim of [a] manipulative organization that has taken advantage of her from the moment she was radicalized until her recruitment into the armed struggle.” Jevilyn, 22, was the single fatality during an encounter between the military and the NPA in Marihatag, Surigao del Sur. Her lifeless body was left along a highway after an encounter last month in Barangay San Isidro. Military reports said Cullamat allegedly served as a medic of the NPA. According to Esperon, a former Armed Forces of the Philippines (AFP) chief of staff, Jevilyn was recruited to the NPA fold during her early years as a student at Tribal Indigenous Filipinos Phil-Surigao del Sur and Alternative Learning Center for Agricultural and Livelihood Development. He added that Jevilyn graduated to become a full-fledged NPA combatant and medic in the SYP Platoon, Guerilla Front 19. Esperon, vice chairman of the National Task Force to End Local Communist Armed Conflict (NTFELCAC), reiterated that Makabayan lawmakers are acting as legal fronts of the Communist Party of the Philippines (CPP) and NPA. For his part, Bayan Muna Rep. Ferdinand Gaite said the government’s claim that Cullamat’s death is proof of Makabayan bloc’s link to the CPP is “nothing but a straw man’s [argument] meant to divert from the real issues at hand.” “But this is no basis to continue red-tagging members of the House of Representatives. [Defense Secretary Delfin] Lorenzana’s claim that Jevilyn’s death is proof of Makabayan bloc’s link to the CPP is nothing but a straw man’s [argument] meant to divert from the real issues at hand. Instead of asking legitimate and duly elected lawmakers in Congress whether we are linked to the CPP-NPA and National Democratic Front [NDF] or not, why not ask why our countrymen continue to join the NPA? Let us address the root of armed conflict instead of forcing us to participate in a national circus of baseless and dangerous accusations!” said Gaite. T he l aw m a k e r a l s o s a id , “Jevilyn’s death at the hands of the AFP does not prove Makabayan’s link to the CPP-NPA-NDF. The fallacy of guilt by association is most evident in Esperon’s non-sequitur claim.”

Thursday, December 3, 2020 A5

MWSS announces downward tariff adjustment on customer water bills By Jonathan L. Mayuga @jonlmayuga

HE Metropolitan Waterworks and Sewerage System-Regulatory Office (MWSS RO) on Wednesday announced a tariff decrease on customers’ water bills for the first quarter of 2021. Patrick Lester N. Ty, MWSS RO chief regulator, told mediamen in a virtual news conference that the MWSS Board of Trustees has approved the MWSS RO’s recommendation to implement the 2021 1st Quarter Foreign Currency Differential Adjustment (FCDA) effective January 1, 2021. The FCDA recommendation was based on the MWSS RO’s evaluation of the FCDA proposals of the two private water concessionaires. Under the approved FCDA, Ma-

nila Water Co. Inc. (MWCI), which provides water and wastewater services for the East Zone concession area, will implement an FCDA of 0.66 percent of its 2021 Average Basic Charge of P28.52 per cubic meter, or P0.19 per cubic meter. This is a downward adjustment of P.14 per cubic meter from the previous FCDA of P0.33 per cubic meter. In effect, MWCI residential customers consuming 10 cubic meters or less, with the exception of lifeline customers who are already exempted from the quarterly FCDA charges, are expected to have a decrease on their monthly bills of P0.76 per month. Meanwhile, those consuming 20 cubic meters per month and 30 cubic meters per month are expected to have their bills go down by P1.69 and P3.45, respectively. Maynilad Water Services Inc.

(MWSI), which serves the West Zone concession area, meanwhile will apply an FCDA of negative 0.39 percent of its 2021 Average Basic Charge of P36.24 per cubic meter or negative P0.14 per cubic meter. This is also a downward adjustment of P0.05 per cubic meter from the previous FCDA of negative P0.09 per cubic meter. In effect, MWSI residential customers consuming 10 cubic meters or less are expected to see their monthly bills go down by P0.05. Those consuming 20 cubic meters per month and 30 cubic meters per month are expected to have a decrease of P0.64 and P1.30 respectively on their bills this coming quarter. FCDA is a quarterly reviewed tariff mechanism that allows concessionaires to recover losses or give back gains arising from fluctuations in foreign-exchange rates as payments

are made for foreign currency-denominated loans that are used to fund the expansion and improvement of water and sewerage services. It is a corrective mechanism formulated by the MWSS RO to avoid under recovery or over recovery caused by forex movements.

Be ‘very lenient’

MEANWHILE, Ty assured customers of MWCI and MWSI that the two private water concessionaires were told to exercise leniency to delinquent customers who are still reeling from the economic impact of Covid-19 pandemic and subsequent community quarantines and are still unable to settle their long-overdue accounts until now. Ty said the Bayanihan 2 law allows MWCI and MWSI to disconnect delinquent customers who are unable

to pay their bills now that the moratorium prohibiting disconnection is lifted. However, he said, both MWSS private water concessionaires were told to be “very lenient” to customers. “All the customers have to do is go to the MWSI and MWCI office and enter into a payment scheme or sign a promisory note,” Ty said. Meanwhile, the MWSS RO chief said an investigation is ongoing to verify the claim of both water concessionaires for the post-Ulysses water service interruptions because of the turbidity of water in reservoirs. To recall, as most parts of Metro Manila was submerged by floodwater, water consumers also had to deal with waterless days after the typhoon. He assured that the MWSS RO is investigating service interruption to protect the interest of water consumers.

Mabalacat honors Capampangan film director’s 50th year in showbiz

FILM director Elwood Perez displays his plaque of recognition as he poses for a souvenir snapshot with Mabalacat City Mayor Crisostomo C. Garbo, Provincial Board Members Fritzie Dizon, Cherry Manalo, Nelson Calara and Benny Jocson. ASHLEY MANABAT By Ashley Manabat Correspondent

ABALACAT CITY—For his “valuable contribution” to

the Philippine movie industry, the city and provincial government on Tuesday celebrated the 50th year in showbiz of Capampangan film director Elwood Perez.

On the occasion of his golden year in showbiz industry, Perez—popularly known as “El Maestro” who is a native of this city —was given recognition both by the city government and Pampanga provincial government. The tribute also coincided with the celebration of his 75th birthday. In a solemn event held inside the Clark Freeport Zone, Mabalacat City Mayor Crisostomo C. Garbo handed over a plaque from the city government, citing his remarkable achievements as a film director and his significant contributions to the arts, particularly in filmmaking. Senior Board Member Cherry Manalo, on the other hand, presented the plaque of recognition to Perez. She was joined by Board Members Benny Jocson, Fritzie David-Dizon and Nelson Calara. Also present during the tribute are fellow Mabalaqueños and patron of arts and culture Robbie Tantingco, Alex Castro, Cecil Yumul, Clark Development Corp. (CDC) Commu-

Sema reaffirms MNLF’s support to govt peace efforts in Mindanao By Rene Acosta

@reneacostaBM

USLIMIN SEMA, the reinstalled chairman of the Moro National Liberation Front (MNLF), has vowed his group’s continued collaboration and support to the government’s peace effort in the south. The assurance was made by Sema and other officials of the MNLF during a courtesy call on Wednesday to Armed Forces Western Mindanao Command (Westmincom) commander Lt. Gen. Corleto Vinluan Jr. Sema reassumed the leadership of one of the factions of the MNLF after the death of Yusoph Jikiri, also a former member of the House of Representatives. The former secessionist group, which entered into a peace agreement with the government during the term of former President Fidel Ramos, was founded by Nur Misuari, who still serve as the titular head of its main group. “We are here to revive and continue the program of the MNLF to support the anti-kidnapping efforts of the government,” Sema said during his group’s meeting with Vinluan. “We commit to continuously collaborate with and support to the Philippine government for the attainment of lasting peace in the Bangsamoro region,” he added. While at the Westmincom, a Government of the Philippines-MNLF meeting took place and it was attended by 18 MNLF leaders and members under Sema, Westmincom staff under Vinluan and the Ad Hoc Joint Action Group Action Officer. The Westmincom welcomed the assurance of the MNLF’s collaboration

with the government in its peace effort in Mindanao. “Let us continue to work together for our common goal that is to win the genuine peace for the Bangsamoro people,” Vinluan said. Sema’s group included MNLF’s Vice Chairman for Foreign Affairs Hatimil Hassan, Vice Chairman for Political Affairs Romeo Sema (the younger brother of chairman Sema) and Vice Chairman for Military Affairs Abakil Jikiri during the visit. Meanwhile, the Philippine National Police Anti-Kidnapping Group (AKG) neutralized an Abu Sayyaf Group member who has been involved in kidnapping activities since 2016. AKG director Brig. Gen. Jonel Estomo reported to Philippine National Police chief Gen. Debold Sinas that Jupuri Dais, alias Jupuri Nabua, was killed during the service of a warrant at Barangay Poblacion, Sibuco, Zamboanga del Norte following a shootout. Estomo said the suspect fired at a composite police team that was sent by a court to serve a warrant of arrest for kidnapping and serious illegal detention. Dais was a member of an ASG sub-unit under Almujir Yadah, Estomo said. He was a lso a for mer member of Moro Islamic Liberation Front before his involvement in the operations of the A SG. Dais was also being sought by the AKG for his alleged involvement in a series of kidnapping incidents in Mindanao particularly the kidnapping of Martina Yee in 2016, the Duterte Couple in 2017, and Ruda Couple and Javier Family in 2018.

nications Manager Noel G. Tulabut, and Development Managers Frank Madlangbayan and Jeam Espanta, Perez’s cousin. “We are very proud of you. We join each Mabalaqueño in celebrating your work as film director as you are recognized here and abroad. The city government of Mabalacat and the province of Pampanga honor all people like you who contribute to the arts as you bring pride to all of us,” Garbo said in his speech. For his part, Perez expressed elation over the honor and recognition that he received from the Provincial government of Pampanga and the Mabalacat City government. “You did not make my day, month or year but you made my life with this honor and recognition. Thank you to Mabalacat and Pampanga officials,” Perez said in his acceptance speech. Perez is a multi-awarded film maker, director, writer and showbiz legend, who is a native of Barangay San Francisco here.

During the tribute, Perez’s well-wishers sent video greetings. They included film directors Brillante Mendoza, Gina Alajar and Laurice Guillen, actresses Snooky Serna, Cherie Gil, Vilma Santos, Boots Anson-Roa and comedienne Tessie Tomas. Perez started making movies in 1970 together with Lino Brocka, Ishmael Bernal and Celso Ad. Castillo. For 20 straight years—in the 1970s through the 1980s—Perez directed films that broke box office records that won him a series of awards. He continued making films in the 1990s and into the new millennium—reportedly a feat that few filmmakers can match. Perez directed the country’s top celebrities like Nora Aunor, Vilma Santos, Amalia Fuentes, Rio Locsin, and a host of others. Among his top films are Lollipops and Roses at Burong Talangka, Ibulong Mo Sa Diyos, Problem Child, and Bilangin Ang Bituin sa Langit.

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CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

TANG, QINGHUA Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

WANG, HONGYAN Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

10.

YU, SHAOSEN Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

11.

YU, HAOZHAI Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

12.

ZHANG, XUESEN Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

13.

ZHANG, QIANG Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

ACCENTURE, INC. 7f Robinsons Cybergate Tower 1 Pioneer St Mandaluyong City 14.

TONYE NLEND, JOSHUA SANKEY, Cameroonian

SERVICE DESK ANALYST

AMUSETECH BUSINESS OUTSOURCING 2/f Rivergreen Residences 2217 Pedro Gil St. 096, Bgy 880 Santa Ana Manila 15.

GUO, XIN Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

NO.

ESTABLISHMENT / ADDRESS

FOREIGN NATIONAL / NATIONALITY

POSITION

NO.

41.

WANG, HAO Chinese

CUSTOMER SERVICE REPRESENTATIVE

85.

42.

WEI, RONG Chinese

CUSTOMER SERVICE REPRESENTATIVE

43.

WU, HUAIFU Chinese

CUSTOMER SERVICE REPRESENTATIVE

44.

YANG, TAO Chinese

CUSTOMER SERVICE REPRESENTATIVE

COUNTRYWIDE TRAVEL & TOURS CORP. 2/f Rfc Mall Alabang-zapote Road Pamplona Tres Las Piñas City 45.

MALLI JASPAL, Indian

INBOUND MANAGER

CXLOYALTY PHILIPPINES, INC. 10f W Fifth Building 32nd St. Cor. 5th Avenue Bonifacio Global City, Fort Bonifacio Taguig City 46.

GONGO, KAPEU JEAN RONIS, Ivorian

FRENCH CUSTOMER CARE SPECIALIST

47.

MBUYI, GORETTI NDALA Congolese

FRENCH CUSTOMER CARE SPECIALIST

48.

NGO LOGA ABANDA, BABETTE CELESTINE Cameroonian

FRENCH CUSTOMER CARE SPECIALIST

49.

NGWATIO NGUINI, CARINE Cameroonian

FRENCH CUSTOMER CARE SPECIALIST

50.

NONGNI, GILDAS NESLIE Cameroonian

FRENCH CUSTOMER CARE SPECIALIST

51.

PEREIRA MORA, ENGELBERT JOSUE Venezuelan

SPANISH CUSTOMER CARE SPECIALIST

EASTVANTAGE BUSINESS SOLUTIONS INC. 11/f Fort Legend Tower 3rd Ave. Cor. 31st St., Bonifacio Global City Fort Bonifacio Taguig 52.

KEMMER, AARON MICHAEL, American

DIRECTOR OF OPERATIONS

EUROPAYACHTS PHILIPPINES INC. Unit 15 10th Floor One Park Drive 9th Avenue Corner 11th Drive Bgc Fort Bonifacio Taguig City 53.

BERNICHE, LUCAS,French

PROJECT MANAGER

FLY ASIAN INTERNATIONAL CORPORATION Eighty One Newport Blvd. Newport City Va, Brgy. 183 Pasay City 54.

LI, YONGQUAN Chinese

MARKETING CONSULTANT (MANDARIN SPEAKING CLIENTS)

GLOBALLGA BUSINESS PROCESS OUTSOURCING Ground Level, Level 2-5 Floor Silver City 4, Ortigas East Ugong Pasig City 55.

CHEN, MINGFU, Chinese

CHINESE IT SUPPORT

56.

FENG, SHUN, Chinese

CHINESE IT SUPPORT

57.

OU, HAOHUI, Chinese

CHINESE IT SUPPORT

58.

WANG, SIDONG, Chinese

CHINESE IT SUPPORT

59.

HU, PENG Chinese

17.

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

YANG, DONGZE Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

61.

CHEN, GUOZHU Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

62.

CHEN, MINGXIN Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

63.

CUN, DAIHU Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

64.

DENG, RUINA Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

FENG, YAJUN Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

FENG, YUANZHI Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

67.

GONG, ZHIYI Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

68.

GUO, CUNYING Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

69.

HE, HUISHENG Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

70.

HUANG, KETING Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

71.

LI, XIUHONG Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

72.

LI, XIAONA Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

73.

LI, XIAOFEI Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

21.

LIU, YUE, Chinese

MANDARIN CUSTOMER SERVICE

22.

WANG, BEN, Chinese

MANDARIN CUSTOMER SERVICE

23.

ZHANG, GUIPING,Chinese

MANDARIN CUSTOMER SERVICE

24.

LAN, LIULAN Chinese

MANDARIN LANGUAGE SPECIALIST

25.

ZENG, JIKAI Chinese

MANDARIN LANGUAGE SPECIALIST

BILLION DRAGON OUTSOURCE PHILS., INC. 3/f Ayala Mall Southpark National Road Alabang Muntinlupa City 26.

ZHANG, HANWEN Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

CAPSLOCK INC. 7th & 8th Flr. Y Tower Bldg. Coral Way Drive Cor. Macapagal Brgy. 076 Pasay City 27.

GAO, SHANGYU Chinese

CHINESE IT SUPPORT SPECIALIST

28.

JIANG, YANG Chinese

CHINESE IT SUPPORT SPECIALIST

29.

JIANG, ZHUFENG Chinese

CHINESE IT SUPPORT SPECIALIST

30.

PU, LEPING Chinese

CHINESE IT SUPPORT SPECIALIST

31.

ZHANG, MEILING Chinese

CHINESE IT SUPPORT SPECIALIST

COGNIZANT TECHNOLOGY SOLUTIONS PHILIPPINES, INC. 5th And 6th Floors, 8/10 Upper Mckinley Building Mckinley Hill Cyberpark Fort Bonifacio Taguig City 32.

33.

AL-MSTAKA, ESHAQ EBRAHIM ABDULLAH MOHAMMED Yemeni

PROCESS EXECUTIVE-DATA

AWADH, ALI ABDULATEF ALI Yemeni

SENIOR PROCESS EXECUTIVEDATA

COLLABERA TECHNOLOGIES PRIVATE LIMITED, INC. U-40 A-d 40/f Rufino Pacific Tower, 6784 Ayala Ave. San Lorenzo Makati City 34.

LEVYKIN, ARTEM Russian

36.

66.

74.

LI, JINXIN Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

75.

LI, YANGRONG Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

76.

LIU, JIAN Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

77.

LIU, ZIXIN Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

78.

LUO, LEI Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

RUSSIAN SERVICE DESK

CONCENTRIX CVG PHILIPPINES, INC. 25/f Ayala North Exchange Tower 2, 6796 Ayala Ave. Cor. Salcedo & Amorsolo Streets Makati City 35.

65.

MORENO GONZALES, DIEGO ARMANDO Mexican

ADVISOR I, CUSTOMER SERVICE

GARZON RIAÑO, LEONARDO Colombian

ADVISOR II, CUSTOMER SERVICE

COSMOLINK GLOBAL SOLUTIONS INC. Flr. No. 6th, 7th & 8th Bldg. No. 100 Necc Bldg., Andrews Ave. St. Newport City Subd. District 1, Barangay 183 Pasay City 37.

CHEN, HAN Chinese

CUSTOMER SERVICE REPRESENTATIVE

38.

LI, JINGJING Chinese

CUSTOMER SERVICE REPRESENTATIVE

39.

LUO, MENGHUI Chinese

CUSTOMER SERVICE REPRESENTATIVE

40.

NIU, YUANQING Chinese

CUSTOMER SERVICE REPRESENTATIVE

MO, ZHIWEI Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

80.

SHANG, YEPING Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

81.

SHEN, HAIXIA Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

TANG, PING Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

83.

WANG, ENLIE Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

84.

WANG, JINYONG Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

79.

82.

123.

ZHUANG, YEXIN,Chinese

SPECIAL ADVISOR

86.

XIANG, HONGWEI Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

124.

87.

YANG, MINZHEN Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

ZHANG, DANDAN Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

89.

ZHANG, YONGYE Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

90.

ZHANG, CHENGBO Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

91.

ZHANG, XINGTAO Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

92.

ZHANG, RAN Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

93.

ZHAO, HONGBO Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

GREEN TREE BUSINESS CONSULTANT INC. Unit 1402 14/f Cityland Herrera Tower 98 V.a. Rufino Cor. Valero Sts. Bel-air Makati City 94.

XU, TIANTIAN Chinese

MANDARIN SPEAKINGMARKETING MANAGER

HMR AUCTION SERVICES, INC. Km 21 West Service Road South Superhighway Cor. Villonco Road Sucat Muntinlupa City 95.

WORTHINGTON, BRENT FRANCIS New Zealander

INTERNATIONAL BUSINESS DEVELOPMENT CONSULTANT

96.

HUDSON, GRANT HOWARD New Zealander

SALES MANAGER CONSULTANT

HUAWEI TECHNOLOGIES PHILS. INC. U-5302, 53/f Pbcom Tower 6795 Ayala Ave., Cor., V.a. Rufino St. Bel-air Makati City 97.

PENG, PAI Chinese

SENIOR SERVICE MANAGER FOR GLOBE TELECOM 4G/5G ROLL-OUT PROJECT

IDNPLAY CORPORATION 8/f Burgundy Corporate Tower 252 Sen. Gil J.puyat Ave. Pio Del Pilar Makati City

99.

CHEN, JING Chinese

COMPUTER SYSTEM ANALYST

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

THAI-SPEAKING CUSTOMER SERVICE

60.

GOH CHIOU KAWANG Malaysian

WU, XIANFENG Chinese

LOHAKART, PHIANGJAI Thai

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

20.

POSITION

CHINESE IT SUPPORT MANDARIN SPEAKING

PENG, HUI Chinese

BIG EMPEROR TECHNOLOGY CORP. Eastfield Center Cbp1, Macapagal Blvd. Brgy. 076 Pasay City

FOREIGN NATIONAL / NATIONALITY

THAI-SPEAKING CUSTOMER SERVICE

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

YOU, ZHI-JIE Taiwanese

NO.

LERDWORALUCK, SIRITHORN Thai

HUANG, ZIH-JHU a.k.a. HERMIONE HUANG Taiwanese

19.

POSITION

88.

FOREIGN NATIONAL / NATIONALITY

ESTABLISHMENT / ADDRESS

98.

16.

18.

www.businessmirror.com.ph

ITECHNO SPECIALIST INC. 7/f Aseana I Bldg. Bradco Avenue Aseana Business Park Tambo Parañaque City

MJ INTERNATIONAL BUSINESS CONSULTING CO., INC. Cluster F U-183-185 Bluebay Wa Macapagal Blvd. Brgy. 076 Pasay City DONG, LULU, Chinese

ACCOUNTING OFFICER

NEW ORIENTAL CLUB88 CORPORATION 1331 Pearl Plaza Bldg. Quirino Ave. Tambo Parañaque City 125.

LIN, WENTING, Chinese

CHINESE CUSTOMER SERVICE

126.

WANG, FANG, Chinese

CHINESE CUSTOMER SERVICE

127.

YUE, MENG, Chinese

CHINESE CUSTOMER SERVICE

128.

ZHENG, JIANGPEI, Chinese

CHINESE CUSTOMER SERVICE

129.

LEE YEE KEE,Malaysian

MALAYSIAN CUSTOMER SERVICE

130.

TIKE PHAR, Myanmari

MYANMARI CUSTOMER SERVICE

NINTH PRINCE MUSIC RESTAURANT U-112, 115 Shore 1 Residences Seaside Blvd. Cor. Sunrise Dri Brgy. 078 Pasay City 131.

ZENG, ZHENGYONG Chinese

CHINESE SPECIALTY COOK

RED DOT MARKETING AND BRANDING INC. Unit 1514 Burgundy Transpacific Place Taft Ave. 079, Bgy. 727 Malate Manila 132.

REN, FU, Chinese

MANDARIN TECHNICAL SUPPORT

SILOAM CHRISTIAN ACADEMY INC. 2 San Isidro Labrador Payatas 2 Quezon City 133.

NAM, SOON WOO South Korean

SCHOOL DIRECTOR

SKY DRAGON GLOBAL TECHNOLOGIES CORP. # 103 Mezzanine Floor Edsa Mandaluyong City 134.

CHEN, GUANGYI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

135.

GOU, WENFEI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

136.

JIANG, HUANBAO Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

137.

XIAO, LIANG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

138.

ZHANG, JIAZHENG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

139.

ZHOU, JINKAI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

THIRTY ONE DIGITAL MEDIA SOLUTIONS INC. 8-m Cyberzone Plaza Bldg. Eastwood Avenue Bagumbayan 3 Quezon City 140.

TAN WEI MENG Malaysian

IT CONSULTANT

TIANYU TECHNOLOGY INC. 27/f Pbcom Tower Ayala Avenue Cor. Rufino Street Bel-air Makati City 141.

CHEW BOON BIN Singaporean

CHINESE IT SUPPORT SPECIALIST

142.

FENG, SUJUAN Chinese

CHINESE IT SUPPORT SPECIALIST

143.

LY TRAM ANH Vietnamese

CHINESE IT SUPPORT SPECIALIST

144.

XIANG, XUEBIN Chinese

CHINESE IT SUPPORT SPECIALIST

145.

XIAO, JIN Chinese

CHINESE IT SUPPORT SPECIALIST

100.

BAI, JUNFEI Chinese

CHINESE IT SUPPORT SPECIALIST

146.

XIAO, LING Chinese

CHINESE IT SUPPORT SPECIALIST

101.

CHAO, PIANPIAN Chinese

CHINESE IT SUPPORT SPECIALIST

147.

XIN, LONGFEI Chinese

CHINESE IT SUPPORT SPECIALIST

102.

LIANG, CHENG Chinese

CHINESE IT SUPPORT SPECIALIST

148.

CHIN ZHI KANG Malaysian

IT SUPPORT SPECIALIST

103.

LIANG, XIAOJIAN Chinese

CHINESE IT SUPPORT SPECIALIST

149.

HOANG NHUT PHONG Vietnamese

IT SUPPORT SPECIALIST

104.

LIU, SHAN Chinese

CHINESE IT SUPPORT SPECIALIST

105.

WU, JUN Chinese

CHINESE IT SUPPORT SPECIALIST

106.

ZHANG, ZHIYUAN Chinese

CHINESE IT SUPPORT SPECIALIST

107.

LY NGOC MAI Vietnamese

IT SUPPORT SPECIALIST

108.

THAM TUONG MINH Vietnamese

IT SUPPORT SPECIALIST

109.

TRINH CAM PHAN Vietnamese

IT SUPPORT SPECIALIST

JINDINGYUAN BUSINESS SUPPORT, INC. 3-9/f Filinvest Cyberzone Bldg. A, Bay City Brgy. 076 Pasay City

TOYOTA TSUSHO PHILIPPINES CORPORATION Unit 1504-1505 15th Floor One Global Place 5th Ave. Cor. 25th St. Bonifacio Global City Fort Bonifacio Taguig City 150.

FUJITA, YUSUKE Japanese

SALES MANAGER

VOLENDAY INC. U1406 14/f Pacific Star Bldg. Sen. Gil Puyat Cor. Makati Ave. Bel-air Makati City 151.

YANG, BIN, Chinese

DEPUTY PROJECT MANAGER

152.

GAO, MING, Chinese

PROJECT MANAGER

153.

MIN, HONGWEI Chinese

SITE ACQUISITION REGIONAL PROJECT MANAGER

154.

ZHOU, JING, Chinese

STRUCTURE EMPLOYEE

VPC CORPORATE SOLUTIONS INCORPORATED 11/f 100 West, Sen Gil Puyat Ave. Cor. Washington St. Pio Del Pilar Makati City

110.

GAO, BAODUO Chinese

CUSTOMER SERVICE REPRESENTATIVE

111.

VAN PHU NHUC Vietnamese

CUSTOMER SERVICE REPRESENTATIVE

155.

112.

YAN, LI Chinese

CUSTOMER SERVICE REPRESENTATIVE

113.

YANG, GUOXIN Chinese

CUSTOMER SERVICE REPRESENTATIVE

ZAPPORT SERVICES, INC. 36/f Burgundy Corporate Tower 252 Sen. Gil J. Puyat Ave. Pio Del Pilar Makati City

JT INTERNATIONAL (PHILIPPINES) INC. Penthouse, W Office Building 28th St. Cor. 11th Avenue Fort Bonifacio Taguig City 114.

PUKSHLIS, IVAN Belarusian

ROUTE TO MARKET PROJECT MANAGER

115.

MADDEN, WILLIAM THOMAS, Irish

SALES DIRECTOR

KOWLOON MEDICAL CLINIC AND LABORATORY 4803 Alabang Zapote Rd. Almanza Uno Las Piñas City 116.

FU, GUOJUN, Chinese

MANDARIN PHLEBOTOMIST

LINDE BUSINESS SOLUTIONS CENTER PHILIPPINES, INC. 10th Floor Cyber Sigma Lawton Avenue Mckinley West Fort Bonifacio Taguig City 117.

DANGSA-AD, ARKORN Thai

SOLUTIONS DELIVERY PROFESSIONAL

MAERSK GLOBAL SERVICE CENTRES (PHILIPPINES) LTD. Levels 5-8 North Wing, Estancia Offices Capitol Commons Meralco Ave. Oranbo Pasig City 118.

DA MOTTA MAFRA TERRA, MARIA CAROLINA DE CASSIA Brazilian

SENIOR SPECIALIST COLLECTIONS PORTUGUESE SPEAKER

MEGA-WEB TECHNOLOGIES INC. 6,7,8,9,10,11/f Met Live Bldg. Edsa Cor. Macapagal Blvd. Brgy. 076 Pasay City 119.

TOMMY HALIM Indonesian

BAHASA SPEAKING CUSTOMER SERVICE REPRESENTATIVE

120.

LYU, ZONGLIN Chinese

MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

121.

TAO, XIAOHAI Chinese

MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

122.

ZHANG, DUANRAN Chinese

MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

METROPOLITAN BANK & TRUST COMPANY Metrobank Plaza Gil Puyat Ave. Bel-air Makati City

NGUYEN KHANH LINH Vietnamese

VIETNAM- SPEAKING CUSTOMER SERVICE OFFICER

156.

AL FANDY Indonesian

INDONESIAN SPEAKING CUSTOMER SERVICE OFFICER

157.

FERRY WIJAYA Indonesian

INDONESIAN SPEAKING CUSTOMER SERVICE OFFICER

158.

MICHAEL Indonesian

INDONESIAN SPEAKING CUSTOMER SERVICE OFFICER

159.

WIRANTO Indonesian

INDONESIAN SPEAKING CUSTOMER SERVICE OFFICER

*Date Generated: Dec 2, 2020 In the ad material of Notice of Filing of Application for Alien Employment Permits published on November 18, 2020, the position of CHEN, CHAOFAN under RAINBOW PROMISE SOLUTIONS INC., should have been read as CREATIVE DESIGN (MANDARIN CHINESE) and not as published. In the ad material of Notice of Filing of Application for Alien Employment Permits published on November 24, 2020, the position of BERNARDO, JOHAN MARTIN under JT INTERNATIONAL (PHILIPPINES) INC., should have been read as BARNARDO, JOHAN MARTIN and not as published. In the ad material of Notice of Filing of Application for Alien Employment Permits published on November 28, 2020, the position of NG, HERMAN under GLOBAL B2B CONSULTANCY, INC., should have been read as HERMAN NG and not as published. Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at DOLE-NCR Regional Office located at DOLE-NCR Building, 967 Maligaya St., Malate Manila, within 30 days after this publication. Please inform DOLE-NCR if you have any information on criminal offense committed by the foreign nationals.

ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

News

BusinessMirror

www.businessmirror.com.ph

Thursday, December 3, 2020

SC dismisses graft case vs ex-ERC execs

By Joel R. San Juan

@jrsanjuan1573

HE Supreme Court has ordered the dismissal of the graft case filed before the Regional Trial Court of Pasig City against four former commissioners of the Energy Regulatory Commission (ERC) who were accused of allowing electric utilities like Manila Electric Company (Meralco) to forgo the bidding of their power supply requirements at the public’s expense. In a 15-page decision penned by now retired Associate Justice Jose Reyes Jr., the Court en banc unanimously declared that the Regional Trial Court of Pasig City has no jurisdiction to hear and resolve the complaint filed by the Office of the Ombudsman against ERC

commissioners Alfredo Non, Gloria Victoria Yap-Taruc, Josefine Patricia Magpale-Asirit, and Geronimo Sta. Ana for violation of Section 3(e) of the Anti-Graft and Corrupt Practices Act. “All actions of and all proceedings undertaken by the RTC of Pasig

City in the case are declared null and void for lack of jurisdiction,” the SC declared. The ruling granted the petition of the four former ERC commissioners seeking the annulment of the orders issued by the Pasig RTC Branch 155 on September 10, 2018 and October 22, 2018, which denied their plea to quash the information against them. In their petition before the SC, the officials argued that Pasig RTC Branch 155 presiding Judge Maria Gracia Cadiz-Casaclang erred in denying their motion to quash information because, based on the provisions of Republic Act 10660 (An Act Strengthening Further the Functional and Structural Organization of the Sandiganbayan, Further Amending Presidential Decree No. 1606, As Amended, and Appropriating Funds Therefor), she has no jurisdiction over the criminal case as it must be tried by a regional trial court in a judicial region other than in the National Capital Judicial Region.

The SC agreed with the position of the petitioners, saying that Section 2 of RA No. 10660 clearly provides that the RTC has original and exclusive jurisdiction when the information either does not allege any damage to the government or any bribery; or alleges damage to the government or bribery arising from the same or closely related transactions or acts in an amount not exceeding P1 million. The provision further stated that such cases falling within the jurisdiction of the RTC shall be tried in a judicial region other than the place where the accused official holds office. “R.A. No. 10660 took effect in 2015. When the Information against petitioners was filed in 2018, petitioners were still commissioners of the ERC, holding office in Ortigas, Pasig City. The Information also did not allege any amount of damage to the government, or any bribery,” the SC said. “Applying Section 2 of R.A. No. 10660, the information against petitioners should have been filed

in a judicial region outside of the National Capital Judicial Region. Since jurisdiction is a matter of substantive law, the established rule is that the statute in force at the time of the commencement of the action determines the jurisdiction of the court,” it added. The Court did not give credence to the argument raised by the Office of the Ombudsman and the trial court that until the Court comes up with implementing rules, the application of R.A. 10660 should be considered put on hold. “The Court cannot enlarge, diminish, or dictate when jurisdiction shall be removed, given that the power to define, prescribe, and apportion jurisdiction is, as a general rule, a matter of legislative prerogative,” the SC explained. “A void judgment for want of jurisdiction is no judgment at all. All acts performed pursuant to it and all claims emanating from it have no legal effect. The dismissal of the case, thus, follows as a necessary consequence,” it stressed. The case stemmed from the is-

suance of ERC Resolution No. 13 and ERC Resolution No. 1 by the petitioners which unilaterally postponed the effectivity of the conduct of competitive selection process (CSP) on all power supply agreements (PSAs). The CSP rules require power distributors to get at least two offers for supply of electricity before awarding a PSA, ensuring the least cost for electricity consumers. In a ruling issued last May 3, 2019, the Court voided the said ERC resolutions and directed the ERC to conduct CSP on all PSAs submitted by distribution utilities on or after June 30, 2015. The SC’s ruling granted the petition filed by the Alyansa Para Sa Bagong Pilipinas along with intervenor Bayan Muna seeking to nullify the assailed resolutions of the ERC. They claimed that the intention for the issuance of now voided ERC resolutions is to give Meralco and other players more time to enter into self-negotiated PSAs in violation of the CSP policy.

Moody’s reverts to ‘negative’ LIMINAL SPACES: THEN AND NOW CSB’s time to shine has come after quarter of a century its outlook for RCBC, PNB By Tyrone Jasper C. Piad @TyronePiad

N T ER NAT IONA L c red it watcher Moody’s Investors Service reverted its “stable” outlook for Rizal Commercial Banking Corporation (RCBC) and Philippine National Bank (PNB) to “negative” to reflect coronavirusinduced economic shocks on local enterprises. Moody’s also noted that both banks’ profitability are lower than peers, and represents a credit weakness. The ratings agency also said the likely deterioration in asset quality due to the coronavirus outbreak will continue to impact these banks’ profitability through elevated credit costs over the next two years. Both banks are also noted to have relatively high exposure to retail and small and mediumsized enterprises (SMEs) in their loan portfolio. These two segments are among the most af-

fected during the pandemic. “The change in outlook to negative on RCBC’s ratings reflects risks to asset quality, especially in the retail and SME segments, arising from the coronavirusinduced economic shock. At the same time, the affirmation of its ratings reflect the bank’s capital, which provides a buffer to absorb some level of asset quality deterioration,” Moody’s said. “PNB faces similar asset quality challenges. However, its capital is much stronger, providing it with a bigger buffer to withstand asset quality pressures and underpinning the ratings affirmation. Nevertheless, the change in outlook to negative considers scenarios under which even its current strong buffer could be eroded,” it further said. A negative outlook means these banks could be up for a downgrade in the next 12 to 18 months, depending on their conditions upon reassessment.

“RCBC’s Baseline Credit Assessment [BCA] could be downgraded if asset quality deteriorates such that the bank's CET1 [common equity tier 1] ratio declines by more than 50 basis points from current levels, or if its net NPL [non-performing loan] ratio remains above 3 percent,” Moody’s said. “PNB's BCA could be downgraded if there is a substantial deterioration in asset quality, such that either its capital levels or net NPL ratio weakens materially from the current levels,” it added. On the other hand, Moody’s believes funding and liquidity will be stable and remain a credit strength for the two banks. “The banks’ funding has remained stable in the last few months, even amid high volatility in the macro environment,” Moody’s said. “Funding is a particular strength of PNB, as reflected in its low cost of funding when compared to peer banks in the Philippines,” it added.

Volunteer health-care workers sent to Davao to help cut Covid infections By Claudeth Mocon-Ciriaco

O address the Covid-19 situation in Davao City, the Department of Health (DOH) sent volunteer health-care workers, referred to as “Warriors with a Heart” after President Duterte ordered the city placed under General Community Quarantine. The Covid-19 tally in the city reached the 9000-mark. To further help in the city’s response, nearby regions also pledged to send the necessary health workforce; at least 15 additional volunteer health-care workers were deployed on November 29 to the Southern Philippines Medical Center (SPMC). They were from Cagayan De Oro. The next day, 40 more nurses from different public hospitals in the National Capital Region (NCR) and Central Visayas (Cebu City), arrived in Davao City. Thirty-five of these frontliners, who include 33 nurses and

two medical technologists from Northern Mindanao, will be staying in SPMC until December 14. Meanwhile, the remaining 20 nurses from Cebu City were assigned to Temporary Treatment Monitoring Facilities and Hospitals with allocated Covid-19 dedicated beds in Davao City until December 31. All 55 health-care providers have arrived safely in Davao City and were welcomed by the Center for Health Development in Region XI. “To our valiant frontliners, we deeply thank you for your tireless dedication to our nation’s fight against the Covid-19 pandemic and for continuously providing care to all, especially to Covid-19 patients. Your service to your countrymen will forever be appreciated," Health Secretary Francisco T. Duque III said. There were also 22 health workers who arrived on December 1, to aid the swabbers as the local

health authorities conduct a 3-day Aggressive Community Testing in identified barangays with a high risk of Covid-19 transmission. The Davao Center for Health Development targets to swab all close contacts of confirmed Covid-19 cases in the region in an attempt to mitigate the spread of the virus. To date, there are 2,225 active cases in Davao City alone, and 530 active cases in other provinces in Region XI, bringing 9,250 cases in total. Moreover, the region has confirmed 6,142 total recoveries and 353 total fatalities. “We value the bravery of all our volunteers and we laud the spirit of Bayanihan exemplified by other regions in the city's fight against Covid-19. The support we received from other regions to help augment the Covid-19 response in Davao City is crucial in this time of crisis. It is through displays of collaboration like these that we will successfully overcome this crisis,” Duque emphasized.

By Jimi Aguilar

HE Roaring 20s of the last century... Great Gatsby images of a carefree, exuberant, indulgent Flapper Era and Jazz Age. But the decade was also a time of great socioeconomic and political upheaval. The US recovered strongly from the horrors of World War I and progressed towards superpower status. But fully 60 percent of the population lived below the poverty line; modern conveniences like electric vacuum cleaners, elevators, airconditioning, ice boxes (forerunners of refrigerators) and automobiles were beyond them. The 1920s in fact ended with a whimper, as the stock market crashed in October 1929 and led to the Great Depression. Over in the Philippine Islands, the Jones Law passed by the US Congress in 1916 presaged checkered efforts over the next decade to prove equal to the task of eventual independence and selfgovernment. The period saw the emergence of the dapper, erudite Manuel L. Quezon as foremost Filipino politician amid the likes of F.B. Harrison, Leonard Wood and William Cameron Forbes, now better known as place and street names in Manila and Baguio. Liminal spaces...the times between “what was” and “what’s next.” Places of waiting, of transitioning...of catching glimpses of something in the offing yet not quite knowing what’s to come. Like America a hundred years ago with the makings of a superpower. Or our country already flexing her economic and political prowess for the promise of independence, but still some ways off. Fast forward to the new century: any hope or ambition to reprise the positivity of the Roaring 20s or the incurable optimism of a spanking new decade was soon dashed by the sudden, explosive eruption of Taal Volcano in January, serial earthquakes, onset of the Covid 19 pandemic in mid-March, and trainwreck of typhoons. With the economy in the throes of double-digit contraction wrought by a prolonged lockdown, businesses have had to adjust their business models or die trying. Recent fintech-driven stars of the sharing and sourcing industry like Grab and Lazada have boosted their presence in the burgeoning e-commerce and logistics space.

Quiet player

ONE such player, albeit well below the radar, is Citystate Savings Bank (CSB). While the much bigger thrift and universal banks have seen their profits slashed by bulked-up loan loss provisions and slowed-down lending, this middle-ofthe-pack player has been quietly turning its fortunes around. Undeterred by the massive business slowdown, CSB has reversed the

deficits of the earlier part of the year to post steady month-to-month net profits from June thru September 2020. As a result, year-to-date Net Income reached P5.92 million, a P37.51-million reversal of its year-ago deficit. This newfound if modest profitability stemmed from cost discipline, a 9.6-percent improvement in total interest income of P155.82 million from loans, and extraordinary income of P15.77 million, an over threefold increase from a year ago. This is a prime example of a pivot that’s paying off: as loan demand decreased and credit quality deteriorated, the bank successfully monetized its acquired assets and booked net credit gains. On the expense management side, CSB capitalized on the BSP’s determined monetary easing to reduce interest expenses by over P7 million year-on-year, a 20.25-percent drop. All told, non-controllable expenses dipped by almost P4 million (down 5.29 percent), and controllable expenses by over P8 million (down 11.98 percent). For its part, the Bank’s balance sheet held steady and prudent. Management kept deposit liabilities at the P3-B level, given tepid requirements for loan funding and a major capital infusion by its shareholders (subject to regulatory

approval): proof positive of the principals’ confidence in the Bank’s strategic growth and sustained profitability. The loan book hovered around the P2-B mark, mostly secured by hard collaterals, what with the Bank’s conservative risk/reward stance. Leading the charge are newly minted Chairman D. Edgard A. Cabangon, President Benjamin V. Ramos, and Chief Operating Officer Jaime V L Araneta. The period under review also witnessed the Board’s approval of CSB’s new (2021-2025) Strategic Plan, to be undergirded by a digital-first platform and automated credit decisioning and other support systems for its core business of lending (all subject to prior regulatory approval). Turning the corner on profitability... getting a fresh vote of confidence from its shareholders...pivoting to prudent, timely revenue generation...forming an agile, customer-obsessed team . . . laying the groundwork for the Bank’s future. A liminal space is where all transformation takes place. Citystate Savings Bank has been learning, and waiting, for well-nigh a quarter of a century. It’s now on the cusp—of its time to shine! 2020 had its moments... 2021 bids fair to become much, much better.

Thursday, December 3, 2020 • Editor: Gerard S. Ramos

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‘All my love, Elliot’: Actor Page comes out as transgender ELLIOT PAGE

By Jake Coyle The Associated Press

EW YORK—Oscar-nominated actor Elliot Page, the star of Juno, Inception and The Umbrella Academy, came out as transgender Tuesday in an announcement greeted as a watershed moment for the trans community in Hollywood. “I love that I am trans. And I love that I am queer,” Page said in a statement on social media. Page, the 33-year-old actor from Nova Scotia, said his decision to come out as trans, which also involved changing his first name, came after a long journey and with much support from the LGBTQ community. “I can’t begin to express how remarkable it feels to finally love who I am enough to pursue my authentic self,” Page wrote. “I’ve been endlessly inspired by so many in the trans community. Thank you for your courage, your generosity and ceaselessly working to make this world a more inclusive and compassionate place.” “The more I hold myself close and fully embrace who I am, the more I dream, the more my heart grows and the more I thrive,” added Page, who said his pronouns are “he” and “they.” Page signed his statement with the words, “All my love, Elliot.” The announcement was celebrated widely on social media by LGBTQ rights advocates and many in the film industry. Netflix, maker of the comic-book series The Umbrella Academy, said, “So proud of our superhero! We love you Elliot!” “Elliot Page has given us fantastic characters onscreen, and has been an outspoken advocate for all LGBTQ people,” said Nick Adams, GLAAD director of Transgender Media. “He will now be an inspiration to countless trans and non-binary people. All transgender people deserve the chance to be ourselves and to be accepted for who we are. We celebrate the remarkable Elliot Page today.”

benjamin alves

AIAI DE LAS ALAS

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Amanda Seyfried, 35; Bruno Campos, 47; Holly Marie Combs, 47; Julianne Moore, 60. Happy Birthday: Conversations that lead nowhere will hold you back. A cut-and-dried approach to what’s going on around you and what you want to do will ensure that you reach your goal and build a better future. Learn from the past and forge ahead. Put your energy where it counts, and you will succeed. Choose peace over discord. Your numbers are 6, 11, 19, 28, 36, 38, 47.

ARIES (March 21-April 19): Put your thoughts on hold. Now is not the time to share with outsiders or those who don’t see things your way. Stay focused on what you are trying to accomplish, and you will make headway. HH

TAURUS (April 20-May 20): Show interest in what others do, and you will gain support when you present your pursuits. You will reach a personal goal if you speak up on your own behalf and negotiate positively. HHHH

GEMINI (May 21-June 20): Don’t saddle yourself with someone’s problems. Offer suggestions, and move on to what you want to achieve today. If you let someone mislead you or come between you and your pursuits, you will have regrets. Put your needs first. HHH

CANCER (June 21-July 22): Do your part and make deals. Handle emotional and business matters personally. A joint venture looks promising. A romantic gesture will prompt you to make a change that allows you more time to enjoy life’s little pleasures. HHH

Page broke out in Jason Reitman’s 2007 film Juno in a performance as a pregnant teenager that earned him an Academy Award nomination. Page has frequently worked to bring the lives of LGBTQ characters to screen, including the 2015 film Freeheld, which he produced and starred in as the

GMA stars headline Noel Bazaar 2020 as longest-running bazaar goes online GMA Network stars Andrea Torres, Benjamin Alves, Mike Tan, Martin del Rosario, Vaness del Moral and top comedienne Aiai de las Alas make holiday shopping even more colorful, bannering Noel

Today’s Horoscope

Bazaar 2020’s official launch of its online shopping platform www.noelbazaar.ph. In celebration of Noel Bazaar’s two-decade-strong shopping extravaganza, the longest-running bazaar’s newest online platform is accessible throughout the year to further delight shoppers where they can conveniently score their favorite local bazaar finds and catch exciting promos, flash sales, and liveselling. Shoppers should definitely not miss the online version of Noel Bazaar’s much-awaited annual GMA Celebrity Ukay-Ukay and prepare to add to their carts the pre-loved items of the Noel Bazaar ambassadors as well as clothes, bags, and shoes from style mavens Solenn Heussaff, Lovi Poe and more GMA stars for a good cause. Proceeds of the items sold will go to GMA Kapuso Foundation. Expect a variety of amazing finds on www. noelbazaar.ph such as clothing, skincare and cosmetics, toys and novelty items, packed and ready-to-eat food items, as well as timely safety essentials. The newest online bazaar’s main initiative is to help local businesses bounce back from the toll of the pandemic by giving them a platform to showcase their unique items. Noelbazaar.ph takes pride in its hassle-free system for merchants and shoppers alike. More information is available on www.noelbazaar.ph and its pages on Facebook, Twitter and Instagram.

partner of a dying New Jersey police detective who had been denied pension benefits. Last year, he made his directorial debut with the documentary There’s Something in the Water, about environmental damage on Black and First Nations communities in Nova Scotia. n

George Clooney’s secret to cutting his hair, as seen on TV LOS ANGELES—George Clooney is just like us, maybe. The star said he does his own haircuts with a device famously touted in infomercials. In an interview on CBS Sunday Morning, the Oscarwinning actor and filmmaker said he’s been cutting his own hair for more than two decades. “My hair is really like straw,” Clooney said of his thick, salt-and-pepper thatch. “So it’s easy to cut, can’t really make too many mistakes. So years ago, I bought a thing called a Flowbee.” “You did not,” said skeptical interviewer Tracy Smith. “The thing with the vacuum cleaner and clippers, yeah. I still have it,” Clooney replied. “My haircuts take, literally, two minutes. “ Flowbee sales surged when the coronavirus pandemic limited access to salon and barber shops in some areas, Fortune magazine reported in late March. But as Clooney told CBS News correspondent Smith, he’s been cutting his hair “for 25 years” and relies on the Flowbee. The product’s Texasbased maker didn’t immediately respond Sunday to a request for comment. The device, first marketed in the late 1980s, has become entrenched in popular culture: It was spoofed in the movie Wayne’s World and served as a punchline in TV’s Glee and The Nanny. Stan Rosenfield, Clooney’s longtime publicist, said on Sunday he didn’t know if Clooney tends his own hair. Although the actor is famed for pranking his costars, Rosenfield said it seemed unlikely this was one of his practical jokes. AP

LEO (July 23-Aug. 22): Head down the fast track. Engage in activities that inspire you to get fit. Focus more on the things you love to do, and promote better relationships with the people you love. Speak up and do what you do best. HHH

VIRGO (Aug. 23-Sept. 22): You have more opportunities than you realize. Take a closer look at your options, and distance yourself from people trying to push you in a direction you don’t want to go. Live life your way. HHHH

LIBRA (Sept. 23-Oct. 22): Live and learn. The information you receive will change the way you handle personal and professional matters. Refuse to let anyone put you in an awkward position. If you want something, say so, and if you don’t, decline. HH

SCORPIO (Oct. 23-Nov. 21): Focus more on your physical and emotional well-being and less on what’s happened in the past. Take action, and get your responsibilities out of the way, then move on to something that inspires and motivates you. Romance is favored. HHHHH

SAGITTARIUS (Nov. 22-Dec. 21): You’ll accomplish the most if you work alone. An activity that will get you up and moving will motivate you to take better care of your health and emotional well-being. Set realistic goals, and you will achieve your expectations. HHH

CAPRICORN (Dec. 22-Jan. 19): Do your part, and make a difference. How you deal with others will affect your reputation and encourage a promotion. Your leadership ability will shine through, and good recommendations will follow. Improved partnerships will transpire, and romance is favored. HHH

AQUARIUS (Jan. 20-Feb. 18): Don’t make changes because someone else does. Follow your heart, and do what’s right and best for you. Speak your mind, and make it clear where you stand and what you plan to do. HHH

PISCES (Feb. 19-March 20): Stick to facts, figures and regulations. Pay attention to detail, and negotiate on your behalf. There is money to be made if you do things properly. How you appeal to others will determine the type of assistance you receive. HHHHH Birthday Baby: You are passionate, intense and original. You are conscientious and determined.

‘what? what?’ by neville fogarty The Universal Crossword/Edited by David Steinberg

ACROSS 1 Marriage Story actor Alan 5 Bits of smoke 10 Mimicked 14 Quantity of paper 15 “Snowy” bird 16 Rural storage site 17 La Vie Boheme musical 18 Obsession focus in Moby-Dick 20 Take place 22 Author whose son was named Christopher Robin 23 With 49-Across, 2001 Shakira hit with the lyric, “I’ll be there and you’ll be near” 26 Lion constellation 27 Poem with a hero 28 “This is all my fault!” 32 Battle reminder 35 Polished, as a shoe 37 Great rage 38 Once around a track 39 Annual publication of notable names 40 A Beautiful Mind director Howard 41 Egyptian biter 42 Red blood cell deficiency

3 Patch up 4 44 Person you may hate to be 46 Rating for HBO’s Westworld 48 Online gamer’s woe 49 See 23-Across 53 Order in the office? 56 Really buff 57 Toast option 60 Swirl in a stream 61 Make less difficult 62 Ski resort building 63 ___-Ball (arcade game) 64 Practice boxing 65 Rice of politics 66 Covers, as a road DOWN 1 Shape on a one-way sign 2 Predatory worm 3 Do the Macarena, perhaps 4 Certain radio component 5 Church seat 6 “Blech!” 7 Tuck of Sherwood Forest fame, for one 8 Greek cheese 9 Rose support

0 Singer Simpson 1 11 What a baby grand’s strings are made of 12 Magazine founded in Paris 13 Stag’s mate 19 “On it!” 21 Part of a set at the gym 24 Husband of Lakshmi 25 Reverberant 28 A member of, as a clique 29 “Act your age!” 30 Fe, to a chemist 31 Look after 32 Bed frame component, perhaps 33 Wallet filler 34 Spotted breed of horse 36 Suffix for a belief 39 Move side to side 43 Actress known for her double entendres 45 Less short 47 ___ Doubtfire (Sally Field film) 49 Gardener’s nuisances 50 Screwdriver ingredient 51 Wise figure in a village 52 Judy of Claws

3 Get rough, like lips 5 54 Puncturing tools 55 Holier-than-___ 57 The French Dispatch director Anderson 58 Palindromic Turkish title 59 One and two and three and four

Solution to yesterday’s puzzle:

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Editor: Gerard S. Ramos

• Thursday, December 3, 2020

Let’s have a ‘purpose-filled’ pandemic Christmas: Part I

➜ ERGONOMIC study table for your kids’ online classes.

SAMPLE Christmas projects from Arts & Crafts Teacher Nica Cosio’s Gift Card and Wrapping Online Tutorial.

➜

ERGONOMIC adjustable study chairs are definitely a must-haves for your kids’ everyday homeschooling.

➜ VIDEO games are more fun and exciting with this new Nintendo Switch.

➜ ➜

LET your kids stroll around your backyard with Ninebot’s scooter.

STAY fit and fab with this Samsung Galaxy smart watch.

AMAZING GIFTS OF KNOWLEDGE

THIS Christmas, give your kids gifts that will enhance their learning in the new normal with gifts of knowledge, and Toy Kingdom has some excellent gift ideas. Make home schooling and online classes more interesting and comfortable for your kids with these amazing home schooling essentials: ergonomic study tables, chairs, headphones and Android tablets. During their spare time at home, kids will surely love to play with the newest video games using Nintendo Switch, or they can also go for a quick stroll around your backyard with Ninebot’s kick scooter. Christmas this year may not be the same as before but nevertheless, bring cheer and keep the Christmas spirits high. All these gift ideas and more are available at www.toykingdom.ph and inside Toy Kingdom stores located in most SM Supermalls nationwide.

HIS year is challenging, to say the least, for many sectors. Aside from the pandemic, we were hit recently by more devastating typhoons. Because of all this, there have been many debates running in my head about this holiday season. Do we still prepare presents? How do we celebrate festively without contact with family and friends? Can this holiday be really “merry”? Last week, I resolved to make this holiday season a “purpose-filled” one. I decided that from gifts, gestures and get-togethers, we can all make this Christmas even more meaningful. Below are the results of my research and personal plans: GIFTS FOR gifts, I tried to simplify it this year. Instead of doing individual gifts, I opted for “family gifts.” Instead of going for decorative or nice-to-have items, I opted for things closer to the hygiene department. I found antibacterial and more gentle cleaning agents that may be used by the whole family. For my god kids, I opted for educational toys, arts & crafts and study/organizing furniture that may give their distance learning a newer flavor this coming new year. I wanted to find ways to personalize, recycle things in the house and involve my family to give the gift more meaning. I was glad to have attended a Facebook Live card-making and gift-wrapping tutorial from Teacher Nica Cosio last Saturday. Many of the things she suggested, I actually have in our house. I also like the more recycle-friendly material she suggested to use as gift wrapper. Sample works are found in the photo above and at www.carlosandveronica.net. For our overseas family and friends, as well as digital social groups, I plan to do a Christmas project in Canva with my kids. Canva is an online design tool with tons of templates you can choose from. Our periodic get-togethers with our friends provided occasions to see how much our kids have grown up and what they were up to. We also looked forward a lot to our mutual visits with our overseas friends and family especially from Taipei and New York for the same reasons. Given that we were unable to do so these past few months, I decided to make a short video with my family. One of the highlights of the video is my son’s violin performances of “Silent Night” and “Joy to the World.” This is also good for him since there were no recitals this year. For all your kids who dance, perform or even do sports, you can include a few snippets. Maybe even end with a short song from the singers of the family. I am sure your relatives overseas would enjoy seeing your family “in action” like how they would have seen you in an in-person Christmas reunion. There are many free applications to easily edit your videos.

GESTURES THE reason why I also decided to simplify my gifts this year is because I wanted to use a bigger portion of my usual budget for worthy causes. I realized that the best way to show gratitude this year is to be more empathic and do meaningful action where it matters the most, and however way we can. Whether we are an executive, an entrepreneur or a big conglomerate, I believe there are gestures we can do that concretely impact people’s lives. Since the lockdown, I have worked hardest with one thing in mind. I want our employees to have a good Christmas. This year, I also started to find ways to give back to schools I have attended. I have also recently listed down my previous teachers and plan a Christmas surprise for them. My husband and I also found means to help places that mean a lot to us, like when the typhoon hit our home province of Bicol. That’s why I was glad to know about Araneta City’s great gesture of temporarily converting its Gateway Gallery into a free learning space for teachers and college students in need of stable Wi-Fi connection. This provides the much-needed conducive study

atmosphere during this pandemic. In partnership with the J. Amado Araneta Foundation and Quezon City’s Education Affairs Unit, the City of Firsts’ art museum now becomes the Gateway Gallery Learning Lab. It is equipped with a fast and reliable 5G Internet connection to aid students and teachers in their online classes. Setting the mood at the Learning Lab is Gateway Gallery’s interesting artwork gallery, which features a diverse cultural and historical display that will set an inspiring ambiance for education. A teacher or college student may reserve a slot online or via walk-in. A valid school identification card will be requested to access the amenities. A dedicated waiting area will be allotted to walk-ins should the Learning Lab reach its maximum person capacity. For online reservations, contact Gateway Gallery via the Connect Section of its Pocket Museum mobile app, or through its official social-media page (www. facebook.com/GatewayGalleryPH). Next week, I will share a lot of ideas on “purposefilled” virtual get-togethers. ■

Webinar series debunks myths about breastfeeding BY PAULINE JOY M. GUTIERREZ ONE of the most common myths about breastfeeding is that it comes naturally to all mothers. However, the fact of the matter is that many women experience challenges in doing so. In the Sekaya Prescribing Nature Series: Mommy, Are You Okay?, Synnovate Pharma Corp., the natural products company of pharmaceutical brand Unilab, tapped medical experts and breastfeeding advocates to share their knowledge on the major struggles and misconceptions breastfeeding moms encounter, as well as how these impact their emotional and mental well-being, and the ways they can ease the burden. “Mothers should not be afraid to ask for support when they feel overwhelmed, especially now that we’re living in uncertain times,” said pulmonary specialist Dr. Anna York Bondoc. According to Bondoc, one recurring question that women have is about their milk capacity. Interior stylist Leona Laviña Panutat shared that when her first son was born, her milk supply was adequate and that her baby latched easily, but with her second son, she noticed a drop in her milk production. Author and speech and language pathologist Robyn Chua Rodriguez also shared a similar situation. Early in her journey through motherhood, her daughter developed mild jaundice, which causes the yellowing of the skin. Although a common condition among newborns, Rodriguez shared that she blamed herself for not producing enough milk.

“Women vary dramatically in how much milk their breasts can hold,” explained Bondoc, who pointed to a recent study of mothers seeking help for breastfeeding problems. The study found that two out of three among the mothers surveyed had inadequate milk supply. Various factors can also affect milk production, like hormonal or endocrine problems, insufficient glandular tissue, as well as taking certain medications. There are certain steps mothers can take to improve their milk supply, such as eating a balanced and healthy diet, breastfeeding regularly, offering both their breasts while feeding alternatively, and getting help from their lactation consultants. Bondoc reiterated that mothers shouldn’t stop breastfeeding unless their doctors order them to do so, as it is critical for keeping their newborns healthy because breast milk supplies all the necessary nutrients and protects babies against diseases and infections. “Don’t be affected by what other people say,” said Bondoc, adding that several common misconceptions often lead mothers to believe they have insufficient milk when they are in fact producing enough. “You’re not alone in your struggle, and it’s OK to feel not OK. What isn’t good is to just keep all these overwhelming emotions to yourself. Seek help and let others support you and lighten your load,” said Bondoc. She advised mothers to seek advice from fellow

mothers and support groups, and to reach out to their families. Panutat said one should acknowledge selfguilt but not to dwell on it and seek help. “The difficult stage won’t last. After you acknowledge those emotions, you can address the underlying issues. It will allow you to focus on the happy moments,” Rodriguez said. “Don’t lose your sense of self when you become a mom. As full-time moms, we forget we have other roles. You are a child of God, a wife, a friend. You have talents—you can dance, you can cook. That way, your child gets to know the real you,” she added. In helping women cope with the challenges of motherhood, Sekaya is offering a line of food supplements made from moringa oleifera (or malunggay) to boost milk production among mothers. “Knowing that our primary consumers would be lactating moms, we made sure to provide them all the superfood benefits of moringa or malunggay in the best and safest way possible—from source, since our moringa is certified organic by the EU, to processing in no less than pharma-grade facilities,” said Abi Nepomuceno, director and business unit head of Synnovate Pharma. “While there may be many moringa capsules already in the market, we can confidently say that Sekaya Food Supplements Organic Moringa is highly safe and effective. With our moringa supplement, breastfeeding moms are assured that they’re taking a high quality product to ensure their own good health as well as that of their babies,” she added. ■

A10 Thursday, December 3, 2020 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

Protecting our own construction industry

onfidence is growing that the Philippine economy will rebound in 2021 despite the pandemic’s economic impact and the P16 billion damage and losses to infrastructure and agriculture wrought by Typhoon Ulysses in Luzon. The government’s “Build, Build, Build” program and the private sector’s rebuilding efforts will help fuel next year’s economic growth. This is good news for the country’s construction industry, which saw a 33-percent contraction in the second quarter due to strict quarantine controls implemented to help prevent the spread of Covid-19.

Before the Covid-19 pandemic, the Philippine construction industry was seen growing 18 percent this year. Recent projections, however, see the industry suffering a 10-percent decline in 2020. But experts said the industry will bounce back in 2021 if the government can win its battle against the pandemic. Fitch Solutions, a unit of the Fitch Group, earlier said: “We have made an upward adjustment to our growth forecasts for real growth of the Philippine construction industry in 2021 to 9.5 percent year-on-year, with the major assumption that the country is able to contain the spread of Covid-19 and that normal construction activity can be resumed.” As the industry gears up to full construction reopening, a brewing storm threatens industry players making preparations to recommence operations. A House measure has been filed to open the Philippine construction industry to foreigners. House Bill 7337 seeks to amend Republic Act 4566 or the Contractors’ License Law by allowing foreign firms to obtain a regular license that was originally exclusive to companies with at least 60 percent Filipino equity. Local contractors have expressed their strong opposition to the bill that would fully open the construction business to foreigners, saying it will spell the demise of the local construction industry, which employs more than 4 million Filipinos. The bill’s author, Valenzuela City Rep. Wes Gatchalian, said the measure would level the playing field in the construction industry to encourage competition, transfer of technology and sharing of knowledge between Filipino and foreign contractors. DMCI President and CEO Jorge Consunji, however, warned that removing existing regulations favoring Filipino contractors will open the floodgates to unregulated entry of foreign-owned construction companies. “This will kill the local construction industry, and the entry of unqualified foreign contractors can cause a danger to public safety,” Consunji told the House Committee on Trade and Industry during its recent virtual hearing on HB 7337. He said it is important to balance extending equal opportunities to foreign contractors and protecting local players, especially those in the micro, small and medium enterprises (MSMEs). Philippine Constructors Association President Wilfredo Decena shared the same concerns for the MSME sector, which makes up about 97 percent of local contractors. “The unregulated entry of foreign contractors will adversely affect small and medium-sized Filipino contractors. We will even deprive Filipinos of job opportunities in our own country,” Decena said. He encouraged the House panel to be mindful in safeguarding and ensuring the survival of local players and the more than 4 million workers in the industry because “foreign contractors have the tendency to bring their own people even for jobs than can be performed by Filipinos.” The issue of potential displacement of over 4 million workers in the construction industry was brought to light in a recent Senate budget hearing after Majority Floor Leader Juan Miguel Zubiri sought the commitment of Public Works Secretary Mark Villar to back a legislation he will file to limit the participation of foreign firms in local infrastructure projects. Industry players welcomed this development. “This support by our legislators is very crucial especially in these difficult times when the very survival of the MSMEs in the construction sector is being threatened by the adverse impact of the pandemic. And with the entry of foreign companies under the guise of leveling the playing field, it will hasten the death of many small local players reeling from the economic slump,” said Engineer Wilfredo Hilao Guerzon Jr. of FGM Builders Resources & Development Corp. House Bill 7337, which seeks to open the Philippine construction industry to foreigners, may help level the playing field. But our lawmakers must understand that the greatest challenge we face in the current crisis is striking the right balance between opening up a strategic industry to foreign players and protecting our own. For all we know, some foreign players may have an unfair advantage. If a foreign construction company, for example, that is state-backed were to compete with local construction companies, wouldn’t that be considered an assault on one of the country’s strategic industries?

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iRehistro is live James Jimenez

spox

ast week, the Commission on Elections quietly relaunched iRehistro—the web site where you can supply the Comelec with your information by answering a series of questions, and print it out as a completed voter registration application form. And after you do that, you can also book an appointment with the Comelec office where you intend to register, without having to use a different program or application. No, it’s not online registration Obviously, iRehistro falls short of being a complete online voter registration solution. In fact, the opening screen itself reminds the user that “accomplishing this online form DOES NOT mean that you are already a registered voter.” However, it will contribute much to the Comelec’s Covid-safe protocols—protocols which, incidentally, have given voter registration the enviable record of having no recorded cases or instances of Covid-19 transmission. Without iRehistro, a person

would have to wait until he or she gets into the office in order to be given a form. This after having waited in queue for the person ahead of him to finish and exit the premises. Once the registrant gets the form, he needs to accomplish it, while inside the office, and this means that the next person in line has to also wait for him to finish, extending the waiting time of everyone in queue after him. And because Comelec offices aren’t the most spacious places, you can only have a very limited

Grouchy and old

et it be publicly noted that I am not a “grouchy old man.” Well, actually I am. But that does not affect my analysis and outlook for the future the way you think. It has nothing to do with the “grouchy” part and everything to do with the “old” part. History may not repeat itself, but it does rhyme. We know that “this time it is different” is not true. But it is true, except when it is not. You cannot ignore the similarities between “then” and “now.” But you also must recognize the changes. That is why I wrote recently that many of the stock market truths became less valid over time. Inflation since 1958 has seen what cost $100 then would cost $897 now, for an increase of about 800 percent. The Dow is up about 600 percent. So, the only brilliant analysis you needed to make money over the long term was to look at the inflation rate, sort of. What I see does not give me much confidence in the short to medium term future. The economic

Montreal Protocol in 1987 banned the production of CFCs and other ozone-depleting chemicals. In 2019, NASA reported that the ozone hole was the smallest ever since it was first discovered in 1982. Last Sunday, SpaceWeather.com reported that Earth-orbiting satellites detected the biggest solar flare in more than three years. “M4.4-category eruption produced a shortwave radio blackout over some parts of Earth. The solar flare and an associated CME [coronal mass ejection] were not Earth-facing.” We are at the bottom of Solar Cycle 24 that peaked in 2014, which followed a super peak of Solar Cycle 23 in 2001-2002 when “The Earth is burning.” Now we may be entering an increase in solar activity period, which will create more warming.

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number people in them at any one time. With social distancing rules, some will even be able to accommodate only one applicant at a time—literally. So let’s not even argue about why we can’t have people off to one side filling up forms while others do whatever. It’s not likely to happen, and even if it did, it would endanger people and that is non-negotiable. All told, going to the Comelec office, queueing up, and filling out the form can take you about 20 to 30 minutes, whereas the actual business of getting registered— basically the biometrics part of the whole process—only takes about 5 to 10 minutes. iRehistro, in effect, allows the registrant to bypass the long queue, so that they can be quickly

Turchin: “The elites have to pacify unhappy citizens with handouts and freebies and when these run out, they have to police dissent and oppress people.” The final trigger of impending collapse, Turchin says, tends to be state insolvency, something I have written about many times. Now, do you understand why I am grouchy?

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iRehistro, in effect, allows the registrant to bypass the long queue, so that they can be quickly processed and directed to the biometrics capturing set-up. All told, that entire registration procedure, facilitated by iRehistro, would not take longer than an average of 5 to 10 minutes.

catastrophe of the pandemic is not as huge a concern for me, unlike others. This is because the economic collapse is “man-made” and I am used to seeing man screwing things up. Further, it is self-correcting over the long term. Increasing global temperatures as well as decreasing has less to do with man and more to do with nature. Do not tell anyone I said that. I try to avoid offending anyone’s religion. Global temperatures have gone through countless cycles of ups and downs, and if you lay a temperature chart against solar activity you—not the “religious”—will see the correlation. The most critical man-made screw up was the hole in the ozone layer during the late 1970s. The

processed and directed to the biometrics capturing set-up. All told, that entire registration procedure, facilitated by iRehistro, would not take longer than an average of 5 to 10 minutes.

Don’t sign

The thing about iRehistro, however, is that while it prints out a completely accomplished application form, the applicant isn’t supposed to sign the document until he’s in the Comelec office, before the Election Officer. This is because of a provision in Republic Act 8189, and it’s one of the two major bummers keeping us from going fully online with voter registration. With the exception of that one crazily counter-intuitive caveat, going through the iRehistro process is actually pretty smooth. The form is well-designed and generous with tooltips and onscreen reminders, so it should be easy enough for anyone to use. All you need to get you started is to point your browser to https:// irehistro.comelec.gov.ph. Do not forget the “S” in “https;” irehistro is a secure site and without the “s” in “https,” well you’re just not going to get where you want to go.

The point is, had that M4.4 eruption been pointed directly at Earth, “it would’ve likely been an X-class event, meaning it could’ve resulted in widespread radio blackouts, downed power grids, and disrupted communication networks.” If we are entering a new active solar period, we could have disruptions sparked by solar flares creating massive economic damage as remote working has been kicked into hyperdrive because of the virus pandemic. And we may have strange weather into 2024. Peter Turchin is one of my go-to people on cycles. A few months ago, he said that “we are almost guaranteed” five hellish years and maybe a decade. Turchin: “The elites have to pacify unhappy citizens with handouts and freebies and when these run out, they have to police dissent and oppress people.” The final trigger of impending collapse, Turchin says, tends to be state insolvency, something I have written about many times. Now, do you understand why I am grouchy? E-mail me at mangun@gmail.com. Visit my web site at www.mangunonmarkets.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis tools provided by the COL Financial Group Inc.

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Life after the pandemic-driven debts

Models wanted Msgr. Sabino A. Vengco Jr.

Alálaong Bagá

Val A. Villanueva

Businesswise

lobal investment banking giant Goldman Sachs economists Andrew Tilton, Danny Suwanapruti, and Jonathan Sequeira have painted a shiny economic outlook in 2021 for the Philippines and our Asean neighbors. Their Philippine projection rests on what they say is the country’s growth potential and the availability of Covid-19 vaccines that are “expected to control the outbreak sooner than later,” notwithstanding the economic pit I believe our country has fallen into and the precipitous recession being experienced in the Asean region. They expect growth to “rebound the most in the Philippines [9.4 percent] and Malaysia [6.6 percent], which were among the hardest hit by virus containment this year.” The banking giant nonetheless forecasts the country’s gross domestic product (GDP) this year to account for the enormous shrinkage in Asean at 8.5 percent; Malaysia at 6.5 percent; Thailand, 6.3 percent; Singapore, 5.8 percent; and Indonesia at 1.8 percent, or an average drop of 4.5 percent across these five countries. But much of Goldman’s optimism is anchored on the slowing down of the pandemic, easing up of health protocols, the effectiveness of the vaccine, and the speed by which it will be administered to large swaths of the Asean population. There goes the caveat! I’m not sure, however, if Goldman has also taken into account the huge debt the Philippines has accumulated since the onset of the pandemic. The International Monetary Fund’s (IMF) world economic outlook data base lumps the Philippines among the world’s indebted governments. The country’s percentage of public debt-to-GDP rose from 36,669 in 2019 to 48,858 as of October this year. We borrowed P3.22 trillion between January and October this year, outstripping the P3-trillion full-year program, even as the national government locked in another P540 billion from the Bangko Sentral ng Pilipinas (BSP) to augment its pandemic war chest. As of October, according to government data, our debts have amounted to a record P2.65 trillion, distended by the P840 billion in short-term borrowings through the BSP and the Bureau of the Treasury’s repurchase agreement. My point is this: Our enormous debts can weigh down growth. High-level debts could restrain our capacity to service them and dampen investors’ interest in parking their funds here. From where we’re at, our country couldn’t afford to receive a credit downgrade because it will jack up borrowing costs, possibly crowding out the private sector and tightening the noose on interest rates. So much will depend now on how we can service our debts. Stock analyst Den Somera of Eagle Securities—one of the most respected in the industry—told BusinessWise that, as long as our country can pay, there should be no problem. I agree, but then again, paying our debts would strain the country’s ability to raise funds. Taxpayers would surely bear all the burden. Also, doubts still linger as to whether we could free ourselves from the pandemic soon enough. Considering the protracted demand contraction and constrained fiscal offset to private sector balance sheets, it is highly possible that the country may also accumulate greater permanent output losses going forward. Bob Herrera Lim, managing director of Teneo—a global CEO advisory firm providing strategic counsel to global corporations—told BusinessWise that there must have been an

My point is this: Our enormous debts can weigh down growth. High-level debts could restrain our capacity to service them and dampen investors’ interest in parking their funds here. From where we’re at, our country couldn’t afford to receive a credit downgrade because it will jack up borrowing costs, possibly crowding out the private sector and tightening the noose on interest rates. overestimation in the country’s ability to rebound: “We will probably get the vaccine later than our SE Asian peers; LGUs will be very conservative, [and] DOF will keep stimulus low.” He cited three reasons for the Philippines experiencing a weak recovery in 2021. The first reason, Herrera Lim said, would be “the low emergence from the health care crisis [due to our being] late to vaccine procurement [which means the vaccines will only be] disbursed in volume later next year or even in 2022.” Without an “exit from the pandemic,” he pointed out, “LGUs may continue to impose restrictions on travel, and other countries may see us as a riskier travel destination—all weakening tourism and trade ties. Finally, the Philippines has kept to a smaller stimulus relative to other countries in the region. If the downturn persists, then the current stimulus program could prove insufficient.” Luca Ventura of Global Finance says that governments spend money on health care, education, infrastructure, defense activities, and a plethora of other services and goods. He asks: “But why do governments have to borrow money? For the simple reason that things do not always go as planned, and that the only way to dig the world out of debt now appears to be [acquiring] more debt.” To my mind, many economists are skeptical about the ability of our policy-makers to manage the pandemic-driven global depression. This incredulity extends to the establishment of a fixed debt-to-GDP ratio—often simply referred to as the “tipping point”—after which productivity rates decline or the risk of default increases substantially. Certain empirical evidence corroborates these economists’ skeptical position. The pandemic undoubtedly unmasked the debt weaknesses of many developing countries. If not confronted with across-the-board and on-the-ball innovative actions, the situation could spiral into a prolonged crisis, with ruinous aftermaths for poverty alleviation and, more broadly, supportable economic expansion. Borrowings are often resorted to for economic growth in the future. It has thus become incumbent for our country’s finance leaders to show fiscal self-restraint. If we were to persistently run deficits, sooner or later we will reach the default point. Even if we were able to avoid default, the snowballing cost of financing debt becomes an unaffordable burden on the shoulders of younger and future generations. Is a runaway national debt, caused by our leaders’ lack of reliable, judicious, and forwardthinking fiscal decisions, what we want to leave our heirs? For comments and suggestions, e-mail me at mvala.v@gmail.com

aiting is never in abstraction; oftentimes there are persons who somehow personify what lies in prospect and so exemplify what needs to be done. Such forerunner or precursor is John the Baptizer in connection with the coming of Jesus Christ that humanity in Advent is looking forward to and clearly must prepare for (Mark 1:1-8).

The beginning of the good news Preparatory to the coming of Jesus and part of the beginning of the good news of salvation was the appearance of John in the Jordan wilderness. His role and service were foretold by the prophet of old: a messenger would be sent ahead of the messiah to prepare his way (Malachi 3:1). Isaiah (40:3) described this servant as like a voice crying out in the desert, “Prepare the way of the Lord, make straight his paths.” It is part of God’s design that the long-awaited salvation of His people would truly begin because some persons have been waiting and preparing for it. Clearly, to be able to receive what heaven would rain down upon the Earth, humankind must be made ready. The people had to be reminded to make straight the paths of the Lord

and thus welcome his advent. And the people flocked to see John and to listen to him, from the countryside as well as from the city. Not just some but all the inhabitants of Jerusalem and from the whole Jordan region. He proclaimed a baptism of repentance, demanding from the people a sign of moral transformation and change. Their sins needed forgiveness; they must show repentance. Asking to be washed in the running water of the Jordan River was such a demonstration of repentance. It was a beginning of the story of salvation as they acknowledged their sins.

The baptizer

The people were moved to follow John’s call because they saw in him a prophet of God. John was unmistakably clear as to his task and regarding his own identity. Yes, he baptized

Thursday, December 3, 2020 A11

The coming of the Lord, not only at the end but also now, calls for models, precursors or torchbearers, to facilitate people’s encounter with him and prepare his way. Whether as parents to their children, or friends to fellow travelers, or pastors to their communities, people’s faith is nourished and quickened by the vitality of the faith of authentic witnesses who are today’s models and precursors of the Lord Jesus Christ. but that was merely preparatory; his baptism was only with water, a symbol of purification in function of repentance. What he was preparing the people for was the baptism with the Holy Spirit, which only the messiah would be offering to the people. The imparting of God’s Spirit will be what gives life and creates a new people of God. The messiah who would come after him is mightier than he is; he is not even worthy to untie his sandals for him. This humility and truthfulness of John the Baptizer was backed up by his authenticity of life. Out in the desert in communion with God, John subsisted on locusts and honey, i.e. on judgment and consolation. Locusts represent divine judgment, being instruments of punishing and bitter destruction (Exodus 10:4; Psalm

105:34; Isaiah 33:4). Honey signifies peace and plenty, a symbol of comfort and reward. John was a walking sign of God’s approaching judgment, which he tried to warn people about, and to prepare them for the coming divine reward for the faithful ones. John was a personification of his message, a prophet of God in the format of Elijah (2 Kings 1:8), garbed in camel’s hair and tied with leather around his waist. Alálaong bagá, the Lord is coming, and the Church as God’s people of salvation has now the task of being the voice in the desert: “Prepare the way of the Lord, make straight his paths.” This prophetic role demands fidelity and courage in delivering God’s Word to all, in all seasons, welcome or unwelcome. The soil on which the seed falls needs to be cultivated constantly, or it turns into a wasteland. The coming of the Lord, not only at the end but also now, calls for models, precursors or torchbearers, to facilitate people’s encounter with him and prepare his way. Whether as parents to their children, or friends to fellow travelers, or pastors to their communities, people’s faith is nourished and quickened by the vitality of the faith of authentic witnesses who are today’s models and precursors of the Lord Jesus Christ. Join me in meditating on the Word of God every Sunday, from 5 to 6 a.m. on DWIZ 882, or by audio streaming on www.dwiz882.com.

Triple emergencies: Climate, environment, transition Dr. Rene E. Ofreneo

LABOREM EXERCENS

he Philippines is facing triple emergencies: Climate, environment and transition. But first, we salute the House of Representatives for unanimously adopting House Resolution 1377 declaring a climate and environmental emergency. Typhoon Rolly tells us that the Pacific Ocean is now spawning stronger and more destructive typhoons due to global warming. Typhoon Ulysses, which flooded whole provinces and cities in Luzon, reminds us of the poor capacity of our balding forests to hold water. Indeed, we are in a climate and environmental emergency. Japan and other countries of the world have been declaring a climate and environmental emergency, primarily in recognition of what is now uncontestable: Planet Earth is heating. Unmitigated, global warming poses an existential threat to all of humanity. By reckoning of the climate scientists, a rise in global temperature beyond 2.0 degrees from the pre-industrial era will be catastrophic. Arctic and Antarctic ice will melt, sea rise will inundate low-lying islands, coral reefs will die, agricultural crops will wilt, forest fires will break out everywhere, bio-diversity will disappear, etc. Hence, the battlecry of the climatologists in the 2015 Conference of Parties (UN Member States) in Paris: Limit the rise in global temperature to 1.5 degrees. Global temperature has been rising due to the mounting greenhouse gases polluting the earth’s atmosphere. The greenhouse gases are accounted mainly by the burning of fossil fuels such as coal and gas. However, deforestation also contributes to GHG emission, while reforestation helps mitigate global warming and strengthens a country’s adaptive capacity to climate change risks. Most of the Philippine CSOs welcome House Resolution 1377. The Resolution provides the country extra power in its negotiation with developed countries on how to address global warming and finance mitigation and adaptation programs. The developed Organisation for Economic Co-operation and Development countries (Europe, North America, Japan, etc.) and China happen to be the biggest GHG emitters because their past and present efforts to industrialize and modernize their countries are based on the intensive

utilization of fossil fuel and extraction of natural resources. In contrast, the Philippines is one of the lowest GHG emitters, and yet, it is in the top 5 of the list of countries that are most vulnerable to climate change risks. This is the logic behind the demand of developing countries for the developed countries to contribute more in the global effort to keep global temperature rise to 1.5 degrees (maximum of 2.0 degrees). They owe the world a huge “carbon debt.” The world is suffering from the “climate injustice” inflicted by the developed countries, including China, on the Philippines and other developing countries. However, the declaration of a climate and environmental emergency should not be used solely for global negotiations on funding for global warming mitigation. They should steel the country’s resolve to address its own climate and environmental concerns. As it is, the Philippines is one country in Asia with a comprehensive set of environmental laws. They include laws promoting forestry protection, clean water, clean air, solid waste management, environmental awareness, renewable energy, organic agriculture, disaster risk reduction and management, rights of indigenous people, green jobs, and so on. And yet, the continuing degradation of the environment remains unchecked. This is reflected in the failure of the DENR to renew the forests despite the huge budgetary allocations for the ambitious National Greening Program under the Aquino and Duterte administrations. As the President himself mentioned, the government has failed to stop the unscrupulous loggers and miners in cutting trees. To this rogue gallery

The Philippines is one country in Asia with a comprehensive set of environmental laws. They include laws promoting forestry protection, clean water, clean air, solid waste management, environmental awareness, renewable energy, organic agriculture, disaster risk reduction and management, rights of indigenous people, green jobs, and so on. And yet, the continuing degradation of the environment remains unchecked.

must be added the local elites engaged in quarrying even in protected and forested areas of the archipelago. This brings us then to a different type of emergency: The failure of the country to bridge the gap between policy pronouncements on environmental protection and actual fulfillment of the declared environmental targets. Philippine environmental laws, including PDP 2011-2016 of the Aquino administration and PDP 2017-2022 of the Duterte administration, are full of such policy pronouncements and declared protection targets. The goals have remained paper goals, while targets have remained paper targets. Prime examples: Reforestation goal, all-out renewable goal and shift to organic farming. This gap between rhetorics and practice is partly rooted in the problem of government to address “transition” issues, foremost of which are having a clear “transformation” program and getting the support of critical stakeholders in making the transformation happen. For example, the organic farming law was enacted in 2010 or 10 years ago. And yet, there is very little progress in the propagation of organic farming, which still accounts for only 2 percent or so of the total farming area of the country per estimates by experts from UP Los Baños. Chemical agriculture dependent on chemical inputs rules the countryside. Shifting from environmentallydegrading practice to earth-friendly one is not easy. This is why experts from the UN Environmental Programme have been asking countries to address “transition” issues, specifically the needed adjustment and transformation programs. But a transition program can be unjust and can deepen social and economic inequality. Hence, the demand of trade unions and CSOs around the world is the formulation of “just transition” programs.

Adjustment and transformation measures should not be unjust to the poor and should not be exclusivistic. Going “green” can lead to a “greed” economy dominated by a few “green” entrepreneurs. Going green without a clear or just transition can also go awry. This is what has been happening in the case of the jeepney modernization program, which jeepney drivers and small operators are still questioning four years after the program was announced. There is no “just transition” program to ensure that affected drivers can have stable jobs if they get out of the jeepney business or be able to manage financially the shift to modernization. In addition to the above criticism, Dr. Ted Mendoza of UP Los Baños and the Science Director of the CSO called Community Legal Help, explained other “blind sides” of the jeepney modernization (based on his study, “Blind Sides” of PUV Modernization). First, he asked: Why blame the lowly jeepney for all the pollution when there are over 12 million vehicles (cars, vans, buses, motorbikes and trucks) in the country? Second, why impose an expensive e-jeepney modernization on poor jeepney drivers? Each modern jeepney is now estimated to cost from P2.5 million to P2.6 million. To be able to pay this amount, Mendoza estimated that a jeepney driver must earn P6,899 a day. With loans from the DBP and LBP, the payables get bigger. And with fare hikes strictly regulated by the government, the indebted jeepney driver is not in a position to cover the high cost of shifting to modernization. Thirdly, Mendoza asks why the numerous requirements on jeepney drivers enrolling under the modernization program? Under DOTR Dept. Order 2017-11, jeepney drivers/operators are asked to surrender their franchise and old jeepney. This is like surrendering a driver’s lifeline. There are other requirements: Membership in a cooperative tasked to do fleet management, having “lay-over garage” with sufficient space, and cooperative training that involves additional expenses. Dr. Mendoza concluded that shifting to less-emitting modality cannot be avoided. However, he is asking why a top-down approach and arbitrariness in implementing modernization schemes that require more, not less, consultation and dialogue? Clearly, the country has a long way to go before it can master just transition management.

A12 Thursday, December 3, 2020

Biking as ‘new normal’ gets backing of DOH, 3 agencies

By Claudeth Mocon-Ciriaco | Correspondent

HE Department of Health (DOH) on Wednesday encouraged the use of bicycles as both an alternative transportation solution and a health solution during and even after Covid-19 pandemic.

In an online media forum on Active Transport with health reporters, the DOH together with Department of the Interior and Local Government (DILG), Department of Transportation (DOTr), and Department of Public Works and Highways (DPWH) presented the general plans for implementing what is now called “active transport” in the coming year 2021. The plans are pursuant to the Joint Administrative Order (JAO) No. 2020-0001, Guidelines on the Proper Use and Promotion of Active Transport During and After the Covid-19 Pandemic, jointly signed by the aforementioned agencies. Health Secretar y Francisco Duque III has expressed the DOH’s

commitment to continuously promote an active lifestyle in schools, workplaces, and communities. Duque said that in order to create the culture and sustain the interventions being done, it is critical that the public is knowledgeable, motivated, and capacitated to practice a healthy lifestyle, starting with active transport. “With active transport, physical distancing is better carried out by the individual. They no longer have to line up and ride the public transportation vehicles with other passengers. The risk for Covid-19 transmission is also less in open air,” explained the DOH chief. When asked about the Bayanihan 2 or the Bayanihan to Recover

As One Act, which provides funding for active transport, DPWH Spokesperson Anna Mae Lamentillo said they are expecting an over P1-billion allocation for bicycle lane development projects in Metro Manila, Metro Cebu, and Metro Davao. “As early as now, we are incorporating bicycle lane design considerations in some of the DPWH’s ongoing big-ticket infrastructure projects such as the Boracay Circumferential Road, Laguna Lake Highway, and other key locations in the country,” added Lamentillo. DOTr Assistant Secretary Atty. Steve Pastor announced that a bike-sharing program will be implemented by the DOTr in 2021, with a total of 702 bicycle units accessible in 28 stations within Metro Manila. Pastor said that the under the Bayanihan to Recover as One Act, the DOTr has proposed the prioritization of Metropolitan Bike Lane Projects to be able to establish bike lanes in Metro Manila, Metro Cebu and Metro Davao. “The presence of bike lane infrastructure shall ensure the safety of our cyclists and light mobility vehicle users as well as to provide

additional mode of transportation,” he added. For his part, DILG Undersecretary Jonathan Malaya committed to handhold Local Government Units (LGU) in their implementation of active transport activities, and provide them with the necessary tools and assistance including a template ordinance and technical capacity. The DILG also committed to set up and facilitate a mechanism for functional coordination between LGUs and the JAO agencies. “We want the LGUs to more easily connect with DOTr, DPWH, and DOH to ensure that concerns can be properly addressed, and to ensure that bicycle lane network projects are seamless and standard across LGUs,” Malaya explained. To support the promotion of related activities in LGUs, the DOH has developed the Health Promotion Playbook for Active Transport. The Playbook consists of implementation plans and ready-to-use tools which LGUs can readily implement at the community level. The Playbook for Active Transport may be accessed at the following link: bit.ly/PlaybookActiveTransport.

DRILON PRODS CABINET TO BACK DOMINGUEZ BID TO GET BACK PITC FUNDS

ENATE Minority Leader Franklin Drilon pressed Malacañang on Wednesday to take the cue from Finance Secretary Carlos Dominguez in demanding return of P33.3 billion lodged with Philippine International Trading Corp. PITC) to provide the cash-strapped administration funds to address the Covid pandemic and disaster recovery efforts from three strong typhoons that hit the country recently. The minority leader, who first raised the multi-billion schemes of PITC over a decade, reiterated that the funds should instead be returned to the national coffers, as recommended by the economic team led by Secretary Dominguez. Drilon denounced Malacañang’s “kid gloves” handling of the PITC controversy in a statement. The opposition senator aired disappointment over Malacañang’s approach to PITC’s alleged violations of auditing and procurement rules, lamenting that “the response is rather ‘soft’. They are treating the issue with ‘kid gloves.’ Maybe they have not realized yet the gravity of violations committed by the PITC,” Drilon said. Drilon issued the statement even as Malacañang ordered a review of the undelivered projects amounting to more than P33 billion “parked” with the PITC, which he described as “a small trading firm” attached to the Department of Trade and Industry (DTI). Drilon recalled that apart from Dominguez, a Commission on Audit (COA) report “already concluded that the funds

Mayors have last say on children going out; ex-VP Binay laments confusion

EALTH Secretary Francisco T. Duque III hopes the local government units (LGUs) will come out with an ordinance that will prohibit children from going out amid the threat of Covid-19 pandemic. “Children should not be allowed to go out as much as possible. Those 15 - 65 years old are already allowed. The decision lies with the LGUs and if they will not allow it, they should come out with an ordinance,” Duque said, partly in Filipino, in an online forum. Duque reiterated that the position of the Department of Health (DOH) remains the same: the risk is still there. He reiterated DOH’s stand a day after conflicting announcements from government officials confused people about whether or not children below 15 will now be allowed to go to malls, as long as they are accompanied by parents or guardians. Several mayors frown on the policy easing restrictions on the younger age group, as cited by Interior Secretary Eduardo Año. Former Vice President Jejomar Binay on Wednesday urged government officials to get their act together and speak with one voice saying confusion is the last thing people coping with a pandemic would need. “As much as possible, we discourage that [children in malls] because the risk is still there. Remember that in nine months since we have experienced this Covid-19, we learned so much,” Duque said. He cited data showing children figure in 3 to 5 percent of the total infections in the country. “They are not exempted [from getting infected],” Duque said, adding that even if children don’t show severe symptoms, they might pick up and spread the virus to other family members, especially the elderly. “That will cause an increase in our infection rate,” he said.

Mayors await expert view

The Metro Manila Council (MMC), the governing and policy-making body of the Metropolitan Manila Development Authority (MMDA), on the other hand, has agreed to wait for the expert opinion before making a decision on whether to allow minors to go to shopping malls with their parents. In a virtual press briefing also on Wednesday, MMDA General Manager Jose Arturo Garcia said Metro Manila mayors have agreed to wait for the Philippine Pediatric Society’s opinion on easing of agebased restriction, whether minors should be allowed to go out and go to the mall. “We have consulted with Dr. Joselyn Alonzo-Eusebio, President of the Philippine Pediatric Society on this matter. We will await their opinion, based on facts,” Garcia stressed. Garcia added he is expecting that the facts will be submitted today or tomorrow. “Once it is submitted, we will call for an emergency meeting with the Metro Manila mayors. We will discuss and vote on it,” he said. “For now, persons aged 18-65 are allowed to go out in areas under general community quarantine, except for accessing essential goods and services,” Garcia stressed. The Philippine Pediatric Society is a specialty division of the Philippine Medical Association.

‘After 9 months, speak in one voice’

Meanwhile, ex-VP Binay urged government officials to speak with one voice during the pandemic, saying contradicting statements on new lockdown-related policies tend to cause confusion among the public. “We have been on lockdown for nine months. You would think that by now, government officials would have figured out how to speak with one voice. Pero hanggang ngayon, hindi pa rin,” he said. See “Mayors,” A2

being held in trust by PITC should be returned to the source agencies.” Moreover, the senator noted the COA report stated that “the interest income earned from the trust should be remitted to the National Treasury pursuant to Presidential Decree No. 1445 or the Government Auditing Code of the Philippines.” Besides alleged violations of auditing rules and circumvention of procurement laws,“the scheme that has allowed the PITC to park around P33.3 billion from source agencies and illegally keep over P1 billion in interest income is also “a clear violation of the President’s own executive order, EO 91, signed in 2019, which provides to the country’s shift to cash budgeting system.” Drilon also cited Section 1 of Duterte’s Executive Order stating that “all authorized appropriationsshallbeavailableforobligation and disbursement only until the end of each fiscal year,” and “that obligations incurred by the National Government within each FY [fiscal year] shall be implemented during the same FY. Goods and services corresponding to said obligations shall be delivered or rendered, inspected and accepted by the end of each fiscal year.” “It is clear,” the senator stressed, that PITC “can no longer deliver the products and services,” citing reports that undelivered items “go as far back as 2007.” At the same time, Drilon insisted it is “misleading to say that the PITC can keep the interest earned from the P33 billion transferred to it by several agencies.” Butch Fernandez

2021 budget ‘realignments’ spur Lacson into action

AISING transparency issues in the bicameral process of finetuning the P4.5 trillion national budget bill for 2021, Senator Panfilo Lacson vowed to closely track down the movement of funds by a so-called ‘’committee of two.” This, even as Lacson cited initial findings indicate “questionable realignments” prompting the need for closer scrutiny of the annual budget’s details. “I don’t agree with anything that is not transparent, especially if it concerns the national budget,” Lacson said Wednesday, adding:“While the bicameral conference committee may have been reduced to a Committee of Two, it is not exactly the case.” Lacson said he instructed his Senate staff to coordinate with the Legislative Budget Research and Monitoring Office (LBRMO) to track “whatever movements of funds before the final version of the bill is presented to the bicameral members for our signatures and approval.” The senator said he “practically demanded”that his office be furnished with the full details of the Senate-approved version of the 2021 budget bill before the convening of the bicameral conference, after noting that what was provided to him was “only the summary of the Senate version.” “Having said all that, we already found some realignments that may seem questionable, based on our preliminary examination,” Lacson disclosed. For instance, the senator noted that “while some of my recommended [cuts] from the Department of Public Works and Highways budget was adopted, we also noticed at least P10 billion worth of infrastructure projects [were] realigned within the same agency under the Senate version.” Lacson noted that while they can identify the locations of the Senaterealigned projects, “we may not be able to identify the senator-proponents.” The senator added, “this is the reason why I have always called for transparency in all our individual amendments by posting the same on our official web sites for the media and the public to see.” He, however, clarified that “these are very preliminary even as we continue our scrutiny of the budget measure. Thus the importance of transparency cannot be emphasized enough.” Butch Fernandez

www.businessmirror.com.ph

Companies BusinessMirror

Thursday, December 3, 2020

AC Energy, Marubeni unit deal secures PCC approval

By Lenie Lectura

@llectura

HE Philippine Competition Commission (PCC) has cleared a shareholders’ deal between AC Energy Philippines Inc. (ACEN) and the Philippine energy unit of Japanbased Marubeni Corp. ACEN said yesterday that it received on December 1 a copy of the PCC Decision No. 20-M-017/2020 dated November 24. The transaction, noted PCC, “will not likely result in substantial lessening of competition.” As such, the PCC has decided "to take no further action

with respect to the proposed Transaction among Axia Power, ACE PH, Endevor and Ingrid Power.” ACEN is a subsidiary of AC Energy Inc. (ACEI) while ACE Endevor Inc. (Endevor) is ACEN’s whollyowned subsidiary. They signed last July a shareholders’ agreement

with Axia Power Holdings Philippines Corp. (Axia), a subsidiary of Marubeni Corp., for the development, construction and operation of the 150 megawatt (MW) diesel power plant project in Pililla, Rizal. T he d iese l power projec t, known as Ingrid Project, is expected to be operational in the first quarter of 2021. Under the Agreement, Axia will acquire 50 percent of the shares and 50 percent of the economic rights in the ACEN’s subsidiary Ingrid Power Holdings Inc. (Ingrid), the special purpose vehicle of the Ingrid Project, while ACEN will hold 50 percent of shares and 45 percent of the economic rights, with Endevor having a 5-percent share of the economic rights in Ingrid. Ingrid and Endevor were among

the ACEI subsidiaries acquired by ACEN. As of January 2020, ACEN has infused P570 million into Ingrid to fund the Ingrid Project. Ingrid will have a total subscribed capital of P1.97 billion. The Ingrid Project is a 150MW high-speed, diesel-fueled power plant project located in Brgy. Malaya, Pililla, Rizal. It will provide ancillary services to the National Grid Corporation of the Philippines. The plant will supply peaking and reserve power to the Luzon grid. “[ACEN] will have the opportunity to develop a greenfield project which will provide peaking and reserve power in partnership with Axia, which has extensive experience in the local and international power sector,” it added.

Nokia to develop Now’s 5G network By Lorenz S. Marasigan @lorenzmarasigan

OW Corp. and Now Telecom Company Inc. have tapped Finnish technology player Nokia for the development of its 5G network in the Philippines. According to a filing to the stock exchange, the Now Group has signed a memorandum of understanding with Nokia that provides for the “expansion” of Now’s current broadband network through 5G standalone technologies. The agreement also provides for the creation of a commercial framework agreement through the development of various 5G use cases that may be applicable to the Philippine market.

Vivant Energy to build plant in Pampanga

“This Now-Nokia Agreement on 5G Collaboration shall bring about the multi-gigabit broadband Internet era in the Philippine Telecom, Media and Technology markets. Now’s strategy is clear: to expand its current guaranteed service to highend markets via 5G Fixed Wireless Access and extend this compelling customer experience to consumers via 5G mobile cellular broadband service,” Mel V. Velarde, Founder and Chairman of the Now Group of Companies, said. He added that Now’s 5G standalone network will deliver “enhanced mobile broadband and ultra-low latency” that may support augmented and virtual reality applications, 8K video streaming, and other use cases for enterprise,

government, and households. “Having no legacy networks, Now’s Standalone 5G Network shall rise above competition. With Nokia as our technology partner, we are confident Now and its customers would succeed,” Velarde said. Nokia currently has 133 commercial 5G contracts worldwide. “We’re delighted to support Now in realizing the full vision of 5G. 5G standalone, with its high speed, low latency performance and edge computing will enhance business processes, bring new applications and benefits to consumers, and the wider industry," said Andrew Cope, Country Manager for Nokia Philippines. “We’re confident that our market-leading technology will play a

Jollibee Group launches Multi-Delivery Service

IVANT Energy Corp. (VEC) is putting up a diesel power plant in Pampanga to supply the requirements of Pampanga II Electric Cooperative (PELCO II). VEC and partner Gigawatt Power Inc. (GPI) will construct a 3 x 5.76-megawatt (MW) diesel-fueled power plant under a Build-Operate-Own Program in Porac, Pampanga. VEC will own 50 percent equity in the embedded power plant project. VEC and GPI earlier won in the Competitive Selection Process (CSP) for PELCO’s 15MW power supply contract. After the competitive auction, PELCO II awarded a 15-year power supply contract to VEC and GPI. “We welcome this opportunity to be a partner in the development of the seven local government units being served by PELCO II. Wherever we go, we’ve always been committed to the economic and social development of the communities we serve, and we will make the same commitment here,” said VEC Executive Vice President Emil Andre M. Garcia. GPI and VEC, according to GPI President Walden Tantuico, assured PELCO II that the power project will be able to address its peaking power supply requirements. Also, it will provide stable, reliable and quality power to PELCO II’s coverage area even during peak hours. “GPI and VEC have always been known for the service, commitment and reliability that our power plants provide in the distribution systems of electric cooperatives. We assure PELCO 2 and its memberconsumers the same level of excellence,” said Tantuico. Lenie Lectura

CONTRIBUTED PHOTO

ARNESSING its different brands and its network of over 2400 delivery stores, the Jollibee Group launches the Multi-delivery Service—the latest delivery innovation that allows people to order not just from one brand but from its various brands and deliver it to multiple locations. Starting December 1, the Multiple Delivery Service is available with two options. Customers can either order from one brand and send to multiple locations, or order from different brands and send to different locations. Multiple location deliveries for single-brand orders are available nationwide, while the option for multiple-brand orders for multiple locations is being piloted in Metro Manila. The multidelivery service

will maximize both in-house delivery and aggregator partners. “The Jollibee Group Multi-Delivery Service is our way of adapting to the evolving needs of our customers, especially as they look for new ways to celebrate during the holiday season,” said Joseph Tanbuntiong, Jollibee Group Country Group Head for the Philippines. “With this service, consumers will now find it easier and more convenient to order their favorite food and share it with friends and family who are in various locations. From having to order several times, customers need to order only once.” “We hope that with this new service, our customers can experience the joy of eating together, even if they are in different locations,” Tanbuntiong added.

crucial role in setting the right conditions for 5G to become a success in the Philippines.”

SMC nears completion of Sariaya community By VG Cabuag @villygc

ONGLOMERATE San Miguel Corp. (SMC) on Wednesday said the construction of its P352million community in Sariaya, Quezon, where it will put up an integrated agro-industrial complex, is nearing completion. A total of 127 families, who relocated from the town’s risky coastal areas, have already transferred to the company's 5.4-hectare San Miguel-Christian Gayeta Homes. More families are expected to move to the subdivision in the coming weeks, the company said. Apart from the 450-unit housing complex, it built the Sariaya Fisherman’s Dock, and the San Miguel Market to provide families with the means to thrive and develop resilience in the face of challenges. “We are building a community where people will have access to jobs and services and have the opportunity to make a difference. It’s a place that will stand the test of time, one where people of this and the future generation will want to live and work,” company president and COO Ramon S. Ang said. “This housing community that includes the Fisherman’s Dock and the San Miguel Market is an integral part of our investment in Sariaya, Quezon. With our extensive experience in high-quality housing developments, we have designed a safe space that allows members of the community to sustainably farm and fish, and also provide them additional training so that they help us build our facilities in Sariaya together,” Ang said. Construction of the 450-unit housing community started in April 2019 and was formally turned over to San Miguel last November 25. Each housing unit in the community, built under Housing Land Use Regulatory Board standards, has a lot area of 54 square meters that can fit a bedroom, toilet

and bathroom, kitchen, dining area and loft capability. The community has an overhead water tank with a 136,000-liter capacity, a dedicated sewage treatment plant made of natural reed beds, a multi-purpose hall, park, daycare center, livelihood center, e-library, and a clubhouse consisting of covered basketball court, multipurpose hall, and playground garden. “These houses were tested during the last two typhoons and withstood the strong winds and heavy rains. During the height of these typhoons, many families whose houses were destroyed by the typhoons even requested to transfer immediately so they can finally reside in a community that is safe, secure, and where they are being attended to with the company’s trademark malasakit,” he said. Currently under construction in front of the housing community is the San Miguel Market, where fishermen can sell their fresh catch and other residents, particularly those who graduated from the Technical Education and Skills Development Authority's (TESDA) livelihood and training courses, can offer services and products. Ang said the establishment of the San Miguel Market will complement the Sariaya Fishermen’s Dock which SMC inaugurated recently with the help of the local government of Sariaya and the Diocese of Lucena. The multi-purpose Fishermen’s dock, sitting on a 3.5-hectare property, aims to increase the resilience of fishing communities as it can secure more than 100 boats, particularly during typhoon season, as its Sariaya Fisherman’s Hall, can serve as a rest area and storage for 70 boat engines and other fishing implements. Recently, an initial batch of 50 trainees from San Miguel-Christian Gayeta Homes completed their skills training in organic, urban farming, edible landscaping and fish and meat processing under TESDA, the company said.

Companies BusinessMirror

Thursday, December 3, 2020

PSE STOCK QUOTATIONS

December 2, 2020

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

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

43.8 44.25 44.2 44.25 43.8 43.8 15,000 660,065 -21,935 104.1 104.2 107 107 103.8 104.1 4,031,010 422,503,439 -47,563,121 79.75 80 82 82 79.3 80 7,691,110 616,408,438.50 -300,225,553.50 25.65 25.8 25.8 25.95 25.65 25.65 33,000 848,295 -582,725 6.36 8.09 6.14 8.09 6.14 8.09 300 2,231 11.42 11.48 11.6 11.6 11.3 11.42 253,300 2,897,360 513,184 49.1 49.2 48 49.2 47.85 49.2 13,310,100 647,265,090 25,185,695 9.7 9.85 9.67 9.7 9.67 9.7 13,000 125,989 29.95 30 29.9 30.6 29.85 30 437,400 13,155,120 -4,338,845 53.15 53.5 53.1 53.55 53.1 53.5 4,580 245,016.50 18.52 18.54 18.6 19 18.52 18.54 44,800 834,628 -18,000 122.5 123.5 123.5 124 121.6 123.5 420,560 51,610,981 -886,022 65.3 66.3 66 66.4 65 65.3 15,920 1,049,968 -570,561 0.9 0.96 0.95 0.96 0.95 0.96 24,000 22,940 27.75 28 27.6 28.3 27.6 27.75 49,900 1,393,665 0.65 0.68 0.63 0.68 0.63 0.65 25,000 16,460 3.8 3.88 3.86 3.95 3.8 3.8 116,000 448,320 1.35 1.41 1.35 1.41 1.33 1.41 147,000 200,460 0.35 0.36 0.34 0.36 0.34 0.36 230,000 82,200 760 797 800 800 751 760 360 286,680 0.65 0.66 0.67 0.67 0.63 0.66 430,000 275,550 157.8 159.6 158.8 160 157.7 157.8 2,930 463,380 -153,542 1,906 2,000 2,000 2,000 2,000 2,000 10 20,000 -

INDUSTRIAL AC ENERGY 6.23 6.24 6.21 6.34 6.16 6.23 15,764,200 98,142,511 6,028,775 1.42 1.43 1.44 1.44 1.41 1.42 1,896,000 2,686,890 -95,750 ALSONS CONS ABOITIZ POWER 26.3 26.65 26.15 26.85 25.85 26.3 6,312,000 165,311,910 -32,920,300 BASIC ENERGY 0.305 0.31 0.29 0.335 0.27 0.305 226,350,000 69,404,200 -87,550.00 28.25 28.45 28.95 28.95 27.85 28.25 1,192,000 33,656,680 -26,011,455 FIRST GEN 73 73.2 70 75 69.55 73 349,410 25,118,414 -8,712,883.50 FIRST PHIL HLDG MERALCO 298 299 300 300 295 298 301,760 89,922,550 -37,886,178 MANILA WATER 15.28 15.3 15.04 15.5 15.04 15.28 1,949,000 29,808,944 -2,944,204 3.97 3.98 4.12 4.15 3.9 3.97 3,991,000 16,102,270 -3,840,960 PETRON 3.38 3.4 3.4 3.55 3.4 3.4 346,000 1,194,760 PETROENERGY PHX PETROLEUM 12.88 12.9 12.6 12.9 12.56 12.88 82,200 1,045,656 21.25 21.3 21 21.7 21 21.3 1,474,500 31,595,070 2,782,815 PILIPINAS SHELL 10.94 10.96 10.9 10.94 10.82 10.94 365,100 3,983,116 -852,976 SPC POWER VIVANT 14 14.6 15 15 13.8 14.02 44,400 637,842 -150,000 AGRINURTURE 8.5 8.54 8.65 8.67 8.48 8.5 913,000 7,781,078 -1,668,229 3.48 3.54 3.56 3.56 3.47 3.54 1,923,000 6,762,890 31,300 AXELUM 15.26 15.5 15.7 15.7 15.14 15.5 17,100 264,830 CNTRL AZUCARERA CENTURY FOOD 17.62 17.7 17.54 17.86 17.54 17.7 817,700 14,462,832 -879,638 DEL MONTE 5.85 5.88 5.85 5.88 5.75 5.88 177,300 1,038,302 7.07 7.13 7.13 7.14 6.98 7.13 1,161,800 8,210,158 -126,708 DNL INDUS 10.02 10.04 10.1 10.1 10.04 10.04 853,600 8,593,772 -3,688,408 EMPERADOR SMC FOODANDBEV 68.4 68.5 69.5 69.6 68.5 68.5 78,920 5,447,234.50 -1,224,512.50 ALLIANCE SELECT 0.66 0.68 0.69 0.69 0.66 0.66 1,053,000 700,380 1.5 1.53 1.56 1.57 1.5 1.52 26,805,000 40,867,910 38,650 FRUITAS HLDG 49.2 49.55 50.7 51 49.2 49.55 100,080 4,981,206.50 199,000 GINEBRA JOLLIBEE 198.1 199 197 199 194.3 199 885,050 174,585,947 102,476,897 59.5 63.5 66.55 70.5 59.5 59.5 12,190 760,147 59,800 LIBERTY FLOUR 8.12 8.9 8.75 8.95 8.75 8.95 2,400 21,198 MACAY HLDG MAXS GROUP 7.7 7.75 7.75 7.75 7.56 7.75 1,091,400 8,380,351 4,595,498 MG HLDG 0.176 0.177 0.18 0.182 0.176 0.177 1,590,000 283,020 8.45 8.48 8.59 8.6 8.38 8.45 170,400 1,444,969 427,415 SHAKEYS PIZZA 1.37 1.38 1.37 1.39 1.36 1.37 7,327,000 10,065,740 2,284,820 ROXAS AND CO RFM CORP 4.7 4.79 4.62 4.7 4.5 4.7 16,000 73,300 -4,760 ROXAS HLDG 1.89 1.9 1.95 1.95 1.9 1.9 74,000 143,300 0.114 0.118 0.115 0.118 0.113 0.115 1,970,000 225,400 SWIFT FOODS 145 145.8 143.5 147.6 143.4 145.8 1,139,130 166,476,940 -27,864,368 UNIV ROBINA VITARICH 0.93 0.94 0.93 0.93 0.91 0.93 3,263,000 3,019,530 -57,960 VICTORIAS 2.5 2.55 2.5 2.5 2.5 2.5 2,000 5,000 55.05 57.65 54.3 59.75 54.3 55.05 5,490 311,205 CONCRETE A CONCRETE B 56.15 58 55 60 55 58 3,210 182,959.50 1.68 1.69 1.71 1.72 1.67 1.68 8,157,000 13,828,180 -1,157,110 CEMEX HLDG 5.05 5.06 5.18 5.18 5.05 5.05 132,300 674,044 DAVINCI CAPITAL 15 15.3 14.98 15 14.62 15 192,300 2,869,748 -1,722,624 EAGLE CEMENT EEI CORP 7.84 7.89 8.12 8.12 7.65 7.84 830,700 6,509,238 82,321 HOLCIM 6.95 6.97 6.97 7 6.91 6.97 1,536,900 10,718,281 -2,997,545 9.19 9.2 9.79 9.79 9.1 9.19 28,342,900 262,509,008 -58,850,439 MEGAWIDE 8.36 9.17 9.1 9.19 8.3 9.17 59,000 538,130 PHINMA TKC METALS 0.86 0.87 0.88 0.9 0.85 0.86 1,527,000 1,349,320 1.09 1.1 1.09 1.12 1.06 1.1 2,519,000 2,746,790 -44,000 VULCAN INDL 122.2 159.5 122.2 122.2 122.2 122.2 20 2,444 CHEMPHIL CROWN ASIA 1.88 1.92 1.9 1.92 1.88 1.88 100,000 190,100 2.56 2.57 2.68 2.7 2.55 2.57 1,396,000 3,633,320 63,520 EUROMED 4.37 4.49 4.47 4.5 4.4 4.4 21,000 93,270 LMG CORP 4.51 4.68 4.6 4.69 4.6 4.69 11,000 51,180 -9,200 MABUHAY VINYL PRYCE CORP 5.21 5.22 5.13 5.22 5.02 5.22 569,800 2,948,835 -2,212,790 CONCEPCION 23.5 23.8 23.8 23.8 23.5 23.8 3,700 87,555 2.63 2.64 2.65 2.65 2.6 2.64 3,985,000 10,461,990 430,400 GREENERGY 7.3 7.34 7.54 7.54 7.26 7.3 364,500 2,671,623 14,390 INTEGRATED MICR IONICS 1.06 1.07 1.08 1.08 1.05 1.06 125,000 132,820 1.53 1.54 1.51 1.54 1.5 1.53 752,000 1,135,610 60,960 SFA SEMICON 6.67 6.68 6.98 7.09 6.68 6.68 6,577,000 45,052,005 5,617,512 CIRTEK HLDG HOLDING & FRIMS ABACORE CAPITAL 0.59 0.6 0.63 0.63 0.6 0.6 20,010,000 12,125,520 247,670 8.7 9 9.09 9.09 8.61 9.07 1,700 15,192 ASIABEST GROUP AYALA CORP 840 849 830 849 825 849 391,140 329,930,110 -14,687,930 ABOITIZ EQUITY 45.2 45.75 44.55 45.75 44.5 45.75 1,593,700 71,972,770 3,097,080 9.97 9.99 10 10.02 9.86 9.99 6,212,300 61,754,819 6,099,532 ALLIANCE GLOBAL 3.05 3.07 3.18 3.18 3.05 3.05 4,737,000 14,710,680 4,448,440 AYALA LAND LOG ANSCOR 6.35 6.55 6.39 6.39 6.35 6.39 52,300 333,941 122,688 ANGLO PHIL HLDG 0.69 0.71 0.72 0.72 0.69 0.71 67,000 48,030 1.07 1.08 1.02 1.09 1.02 1.07 14,611,000 15,586,350 ATN HLDG A 1.06 1.08 1.01 1.08 1.01 1.08 232,000 247,990 -9,680 ATN HLDG B COSCO CAPITAL 5.76 5.78 5.8 5.81 5.69 5.78 696,500 4,011,086 -931,892 DMCI HLDG 5.68 5.69 5.62 5.75 5.61 5.69 10,178,500 57,922,535 517,036 9.1 9.2 9.3 9.37 9.26 9.26 5,200 48,615 FILINVEST DEV GT CAPITAL 619.5 620 621.5 640 611 620 395,140 248,140,870 35,046,660 HOUSE OF INV 3.99 4 3.99 3.99 3.99 3.99 5,000 19,950 71.35 72.25 68.5 73.05 67.8 72.25 4,486,050 314,634,649.50 20,417,454.50 JG SUMMIT 4.8 4.96 4.74 4.96 4.74 4.96 2,000 9,700 JOLLIVILLE HLDG KEPPEL HLDG A 4.92 5.19 5 5 5 5 9,200 46,000 0.8 0.82 0.82 0.82 0.8 0.82 307,000 248,710 LODESTAR 3.71 3.72 3.7 3.75 3.62 3.71 13,601,000 50,308,110 801,030 LOPEZ HLDG 13.4 13.5 13.6 13.64 13.28 13.5 1,176,300 15,830,926 -7,212,076 LT GROUP MABUHAY HLDG 0.53 0.54 0.55 0.55 0.53 0.54 129,000 69,630 4.23 4.25 4.23 4.3 4.19 4.23 29,673,000 126,415,550 29,575,850 METRO PAC INV 4.02 4.09 4.1 4.1 4.02 4.02 6,000 24,200 PACIFICA HLDG 0.86 0.89 0.9 0.9 0.86 0.89 158,000 137,770 26,300 PRIME MEDIA REPUBLIC GLASS 2.89 3 2.89 3 2.89 3 215,000 642,970 1.16 1.18 1.15 1.19 1.15 1.16 53,000 61,900 SOLID GROUP 270 276 272 280 268 270 850 230,308 10,880 SYNERGY GRID SM INVESTMENTS 1,023 1,030 1,017 1,044 1,007 1,030 241,950 248,884,905 15,751,080 SAN MIGUEL CORP 132.7 132.8 135 135 132 132.8 220,250 29,279,186 -3,105,221 0.69 0.73 0.71 0.71 0.69 0.69 155,000 107,090 SOC RESOURCES 145 148.1 148.1 148.1 144 145 10,100 1,464,321 -1,035,982 TOP FRONTIER WELLEX INDUS 0.226 0.227 0.227 0.227 0.227 0.227 10,000 2,270 0.176 0.179 0.175 0.188 0.171 0.179 15,860,000 2,846,790 ZEUS HLDG PROPERTY ARTHALAND CORP 0.65 0.66 0.65 0.67 0.64 0.65 1,583,000 1,032,690 40 40.5 39.5 40.5 39.1 40.5 12,510,700 500,265,385 150,802,955 AYALA LAND ARANETA PROP 1.2 1.26 1.19 1.26 1.19 1.26 183,000 225,190 27.55 27.6 27.45 27.7 27.3 27.55 869,300 23,858,290 -480,740 AREIT RT 1.64 1.65 1.68 1.68 1.64 1.64 1,112,000 1,838,420 -1,582,940 BELLE CORP 0.88 0.89 0.9 0.91 0.88 0.88 1,380,000 1,234,310 -160,200 A BROWN CITYLAND DEVT 0.79 0.8 0.79 0.81 0.79 0.8 94,000 74,660 0.15 0.154 0.15 0.155 0.15 0.155 2,210,000 331,720 150,000 CROWN EQUITIES 6.02 6.18 6 6.2 6 6.18 10,800 64,858 -640 CEBU HLDG 4.91 4.95 4.99 5 4.91 4.91 966,300 4,773,838 98,410 CEB LANDMASTERS CENTURY PROP 0.47 0.475 0.47 0.48 0.465 0.475 10,280,000 4,858,200 -960,300 CYBER BAY 0.335 0.345 0.345 0.35 0.33 0.335 12,220,000 4,124,250 85,000 14.74 14.76 15 15.14 14.72 14.74 1,844,700 27,442,846 -3,072,414 DOUBLEDRAGON DM WENCESLAO 5.97 5.98 6.07 6.07 5.9 5.98 275,300 1,645,820 -361,286 EMPIRE EAST 0.325 0.33 0.335 0.335 0.325 0.325 760,000 247,800 0.081 0.084 0.084 0.084 0.082 0.082 6,050,000 497,460 EVER GOTESCO 1.13 1.14 1.12 1.14 1.11 1.14 23,214,000 26,160,710 -1,811,950 FILINVEST LAND GLOBAL ESTATE 0.9 0.91 0.89 0.91 0.89 0.91 140,000 125,640 8.56 8.6 8.57 8.8 8.54 8.6 50,400 431,640 42,840 8990 HLDG 1.64 1.65 1.66 1.69 1.63 1.64 2,405,000 3,975,970 -89,240 PHIL INFRADEV 0.73 0.74 0.72 0.73 0.72 0.73 81,000 58,660 19,710 CITY AND LAND MEGAWORLD 3.85 3.86 3.9 3.92 3.82 3.85 19,239,000 74,095,320 -7,688,250 MRC ALLIED 0.53 0.54 0.52 0.54 0.52 0.54 61,913,000 32,707,540 -304,100 0.395 0.425 0.425 0.425 0.425 0.425 160,000 68,000 PHIL ESTATES 1.31 1.32 1.31 1.34 1.28 1.31 906,000 1,181,930 PRIMEX CORP ROBINSONS LAND 17.7 17.88 17.7 18 17.64 17.7 12,585,600 224,202,894 456,466 1.57 1.58 1.54 1.6 1.54 1.58 909,000 1,434,650 -590,580 ROCKWELL 2.68 2.73 2.73 2.73 2.7 2.7 254,000 687,680 108,600 SHANG PROP STA LUCIA LAND 2.11 2.15 2.11 2.18 2.09 2.15 724,000 1,543,930 37.6 38.2 37.9 38.35 37.1 38.2 9,239,800 350,740,610 -11,167,315 SM PRIME HLDG 4.79 4.89 4.95 4.95 4.8 4.8 58,000 281,340 VISTAMALLS 1.7 1.72 1.65 1.72 1.63 1.72 3,486,000 5,786,050 32,800 SUNTRUST HOME VISTA LAND 4.57 4.58 4.7 4.7 4.55 4.58 3,728,000 17,140,130 -1,867,700 SERVICES ABS CBN 12.3 12.32 12.9 12.98 12 12.32 915,600 11,485,804 5.8 5.82 5.88 5.89 5.8 5.81 466,600 2,721,912 GMA NETWORK MANILA BULLETIN 0.425 0.43 0.445 0.45 0.43 0.43 410,000 181,250 12.2 12.66 12.3 12.7 12.3 12.7 500 6,270 MLA BRDCASTING 2,000 2,004 1,972 2,016 1,972 2,000 94,425 188,742,035 1,843,535 GLOBE TELECOM 1,360 1,379 1,373 1,388 1,360 1,360 135,630 186,350,435 11,552,560 PLDT APOLLO GLOBAL 0.051 0.052 0.052 0.053 0.05 0.052 95,540,000 4,901,840 15.48 15.86 16 16 15.48 15.48 3,852,700 60,540,180 -22,010,032 CONVERGE 4.28 4.3 4.25 4.37 4.25 4.3 87,000 374,950 DFNN INC 6.69 6.7 6.48 6.69 6.47 6.69 48,950,000 324,790,931 -203,910 DITO CME HLDG ISLAND INFO 0.111 0.115 0.116 0.116 0.111 0.115 250,000 28,280 1.78 1.82 1.93 1.93 1.82 1.82 89,000 166,820 18,200 JACKSTONES 4.83 4.84 4.96 5.08 4.73 4.83 40,191,000 195,902,730 -2,008,510 NOW CORP TRANSPACIFIC BR 0.315 0.32 0.3 0.315 0.295 0.315 21,650,000 6,638,850 63,000 PHILWEB 2.95 2.96 2.99 3.05 2.95 2.95 923,000 2,763,440 97,550 9.15 9.2 9.15 9.2 9.04 9.2 68,200 625,412 2GO GROUP 15.6 15.98 15.58 15.58 15.58 15.58 5,400 84,132 ASIAN TERMINALS CHELSEA 5.5 5.51 5.39 5.54 5.39 5.5 4,542,200 24,879,985 1,418,190 CEBU AIR 49.7 49.75 50.3 50.35 48.95 49.7 586,490 29,092,303 -9,820,632.50 121.8 121.9 122.9 123 121 121.9 792,180 96,667,659 -2,571,987 INTL CONTAINER 15.22 15.98 15.98 15.98 15.22 15.22 3,500 55,094 LBC EXPRESS LORENZO SHIPPNG 0.99 1 0.98 0.98 0.98 0.98 100,000 98,000 7.8 7.88 8.2 8.2 7.8 7.8 6,157,700 48,775,744 -7,723,082 MACROASIA 2.13 2.14 2.16 2.21 2.14 2.14 813,000 1,757,760 METROALLIANCE A 7.25 7.3 7.12 7.3 7.12 7.3 50,900 368,796 7,865 PAL HLDG HARBOR STAR 1.7 1.71 1.78 1.79 1.68 1.71 3,734,000 6,516,860 512,770 0.033 0.034 0.035 0.037 0.033 0.033 255,900,000 8,774,400 -1,933,100 BOULEVARD HLDG 1.99 2 2.17 2.17 1.99 1.99 9,501,000 20,586,060 -4,080 DISCOVERY WORLD WATERFRONT 0.65 0.66 0.67 0.68 0.64 0.66 7,486,000 4,893,510 100 700 CENTRO ESCOLAR 6.64 7 7 7 7 7 552.5 654.5 650 650 650 650 10 6,500 FAR EASTERN U 9 9.8 9 9 9 9 61,000 549,000 66,600 IPEOPLE STI HLDG 0.385 0.39 0.39 0.395 0.385 0.39 7,800,000 3,042,250 62,550 BERJAYA 5.04 5.05 4.98 5.41 4.82 5.04 1,719,000 8,727,200 40,080 8.68 8.7 8.7 8.85 8.69 8.7 2,935,400 25,687,100 -11,993,080 BLOOMBERRY 2.05 2.1 2.1 2.1 2.05 2.05 52,000 107,010 PACIFIC ONLINE LEISURE AND RES 1.84 1.85 1.88 1.88 1.82 1.84 452,000 831,940 22,080 MANILA JOCKEY 2.33 2.47 2.33 2.47 2.3 2.47 44,000 103,230 3.08 3.09 3.13 3.19 3.07 3.09 11,463,000 35,620,540 126,820 PH RESORTS GRP PREMIUM LEISURE 0.41 0.415 0.41 0.425 0.405 0.415 10,010,000 4,129,100 278,450 ALLHOME 8.46 8.47 8.5 8.53 8.32 8.47 4,821,600 40,365,357 461,034 1.6 1.63 1.65 1.65 1.6 1.6 2,187,000 3,555,850 -15,750 METRO RETAIL 42.05 42.15 42.05 42.4 41.8 42.15 1,195,600 50,407,070 -8,372,620 PUREGOLD ROBINSONS RTL 68.1 68.9 69 69 67 68.9 199,690 13,656,559 -4,554,766 PHIL SEVEN CORP 106.2 107 108 108.1 106 107 89,440 9,572,152 -2,284 1.71 1.72 1.78 1.79 1.69 1.72 10,026,000 17,223,090 -3,877,710 SSI GROUP 17.92 17.98 17.98 18.04 17.88 17.98 2,353,100 42,301,052 26,148,410 WILCON DEPOT APC GROUP 0.41 0.42 0.405 0.42 0.4 0.42 5,900,000 2,423,300 -415,000 EASYCALL 7.66 7.83 7.74 7.9 7.61 7.83 35,400 273,334 438 448 447.8 448 438 448 1,190 528,798 8,760 GOLDEN BRIA IPM HLDG 4.8 5 5 5.49 5 5 49,000 257,940 102,200 PAXYS 2.3 2.38 2.3 2.3 2.3 2.3 8,000 18,400 0.77 0.78 0.8 0.8 0.75 0.77 66,558,000 51,240,340 783,600 PRMIERE HORIZON 4.91 5.17 4.92 5 4.85 4.91 15,100 75,082 SBS PHIL CORP MINING & OIL ATOK 8.75 8.85 8.96 8.96 8.36 8.86 62,000 545,251 88,000 APEX MINING 1.83 1.84 1.79 1.87 1.78 1.84 14,018,000 25,712,170 -588,570 ABRA MINING 0.0009 0.001 0.0009 0.001 0.0009 0.001 2,339,000,000 2,327,700 -57,200 5.9 5.95 5.89 5.9 5.6 5.9 623,700 3,621,374 90,074 ATLAS MINING 3.09 3.15 3.09 3.17 3.09 3.15 53,000 164,540 BENGUET A COAL ASIA HLDG 0.29 0.3 0.305 0.305 0.29 0.295 3,640,000 1,079,000 29,500 CENTURY PEAK 2.43 2.47 2.39 2.48 2.29 2.47 1,883,000 4,518,120 -21,910 8.14 8.42 8.49 8.49 8.11 8.42 57,700 470,829 DIZON MINES 2.19 2.21 2.27 2.34 2.19 2.19 13,957,000 31,843,030 -200,520.00 FERRONICKEL GEOGRACE 0.25 0.255 0.265 0.27 0.25 0.255 340,000 86,550 0.155 0.157 0.157 0.158 0.153 0.157 13,760,000 2,140,140 LEPANTO A 0.152 0.155 0.152 0.156 0.152 0.155 1,740,000 270,520 LEPANTO B MANILA MINING B 0.0096 0.011 0.0099 0.011 0.0095 0.01 18,800,000 196,850 -6,850 MARCVENTURES 1.26 1.27 1.29 1.34 1.27 1.27 2,229,000 2,898,610 167,980 2.9 2.91 2.88 3 2.88 2.91 121,000 355,880 20,540 NIHAO 4.66 4.68 4.85 4.87 4.66 4.66 6,985,000 32,974,060 1,604,080 NICKEL ASIA OMICO CORP 0.365 0.375 0.38 0.38 0.365 0.37 1,370,000 504,750 0.68 0.69 0.7 0.71 0.68 0.69 1,253,000 866,970 -34,060 ORNTL PENINSULA 4.81 4.82 4.66 4.9 4.65 4.82 4,070,000 19,587,240 3,131,930 PX MINING 11.98 12 12.2 12.26 11.86 12 7,312,300 88,036,736 584,940 SEMIRARA MINING UNITED PARAGON 0.0052 0.0054 0.0054 0.0054 0.0052 0.0052 21,000,000 109,400 9.5 9.55 9.15 9.8 8.95 9.5 978,200 9,201,358 725,485.00 ACE ENEXOR 0.01 0.011 0.011 0.011 0.01 0.01 5,100,000 55,300 ORNTL PETROL A 0.01 0.011 0.011 0.011 0.01 0.01 14,700,000 154,000 ORNTL PETROL B PHILODRILL 0.0082 0.0086 0.0083 0.0086 0.0082 0.0085 29,000,000 243,400 13.2 13.22 12.68 13.44 12.54 13.22 3,385,400 44,707,524 -1,042,396 PXP ENERGY PREFFERED HOUSE PREF A 100 101 101.3 101.5 101 101 17,090 1,734,341 513 515 513 515 513 515 440 226,520 AC PREF B1 AC PREF B2R 505 510 505 505 505 505 10,090 5,095,450 101.6 102 101.6 101.6 101.6 101.6 500 50,800 CPG PREF A 100.7 102.5 101 102.5 100.8 102.5 530 53,927 DD PREF 500 620 500 500 500 500 20 10,000 FPH PREF C GLO PREF P 510 517.5 503 510 503 510 120 60,920 101 101.4 101 101.4 101 101.4 9,240 933,296 MWIDE PREF 95.45 100.8 100 100.9 95.2 95.2 510 49,089 MWIDE PREF 2A 99.7 100.7 100.5 100.5 99.7 99.7 7,740 775,389 MWIDE PREF 2B PNX PREF 3A 99 100.5 99.5 101 99 101 6,040 598,050 101.5 104.9 101.1 104.9 101 104.9 14,320 1,447,920 PNX PREF 3B 993.5 997.5 996 997 994 996.5 1,540 1,535,000 PNX PREF 4 PCOR PREF 3A 1,063 1,070 1,070 1,070 1,070 1,070 1,390 1,487,300 1,110 1,114 1,109 1,110 1,108 1,110 745 825,825 PCOR PREF 3B 78.4 78.5 78.4 78.5 78.4 78.5 3,610 283,072 SMC PREF 2C 75.9 76.8 76.75 76.8 76.75 76.8 870 66,807 SMC PREF 2E SMC PREF 2F 77.6 78.75 77.6 77.6 77.6 77.6 74,570 5,786,632 75.9 76 76 76 76 76 20,770 1,578,520 SMC PREF 2G 76.05 76.2 76.25 76.25 76.05 76.2 22,700 1,727,980 SMC PREF 2H 77.1 77.25 77 77.25 77 77.25 20,820 1,604,757.50 SMC PREF 2I SMC PREF 2J 76.15 76.85 76.1 76.5 76.1 76.5 6,510 497,605 PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 12.4 12.5 12.04 12.4 12.04 12.4 60,500 745,254 5.52 5.59 5.6 5.6 5.51 5.52 39,200 217,114 67,704 GMA HLDG PDR WARRANTS LR WARRANT 1.01 1.04 1.03 1.04 1 1 182,000 185,590 - SMALL & MEDIUM ENTERPRISES ALTUS PROP 15.28 15.3 15.8 16 15 15.3 754,600 11,656,202 -257,480 3.12 3.13 3.2 3.25 3.11 3.13 6,026,000 19,070,610 35,400 ITALPINAS KEPWEALTH 6.16 6.19 6.3 6.3 6 6.15 86,400 528,923 2.5 2.71 2.17 2.74 2.17 2.71 76,000 193,880 MAKATI FINANCE 6.06 6.07 6.2 6.21 6.02 6.07 21,111,200 129,093,265 1,007,529 MERRYMART EXHANGE TRADE FUNDS FIRST METRO ETF 106.5 106.7 106.9 106.9 105.5 106.7 20,710 2,199,350 -205,576

www.businessmirror.com.ph

Mitsubishi Power to upgrade Makban geothermal facility

By Lenie Lectura

@llectura

ITSUBISHI Power, a subsidiary of Mitsubishi Heavy Industries (MHI) Group, was selected to upgrade a geothermal power unit of the Makban geothermal power facility owned by AP Renewables Inc. (APRI). The Japanese firm received an order for the facility upgrading, which is scheduled for completion within next year. Mitsubishi Power said it will supply a new set of steam turbine components with optimum design for Unit No. 1, in order to optimize its performance and minimize geo-

thermal steam consumption per power output. Meanwhile, Mitsubishi Power’s Nagasaki Works will supply the newly designed steam turbine components, while Mitsubishi Power’s local subsidiary MHI Power (Philippines) Plant Services Corp., the contracting arm of Mitsubishi Power

(Philippines) Inc. for its after-sales service business, will provide onsite installation services. Mitsubishi Power has f u lfilled orders for more than 100 geothermal power projects in 13 countries, with a total plant capacity of more than 3,200megawatt (MW). The company said it holds a leading share of the world’s geothermal power generating capacity, and contributed to the stable operation of geothermal power producers around the world by providing robust aftersales services. Mitsubishi Power added that it will promote the effective utilization of geothermal resources, and contribute to the conservation of the global environment while ensuring stable power supply. APRI acquired the geothermal power plant that straddles the provinces of Batangas and Laguna

from the National Power Corporation in 2009. In geothermal power generation, hot water produced by magma deep below the earth’s surface is extracted as steam, which is used to drive a turbine. Of the various forms of renewable energy that emit negligible carbon dioxide during power generation, geothermal power can be produced stably, 24 hours a day, and is virtually unaffected by weather or other factors. For this reason, geothermal power is a clean form of energy that is expected to see expanded application in countries and regions abundant in geothermal resources. However, facilities and equipment may need to be improved or repaired to adapt to changes in the natural environment over the medium to long term, as is being done in this project.

Fruitas opens first overseas kiosk By VG Cabuag @villygc

OOD and beverage kiosk operator Fruitas Holdings Inc. on Wednesday said it opened its first franchised store in Dubai in the United Arab Emirates (UAE) under the Fruitas House of Desserts brand, which started operations on December 1. “We are excited to bring Fruitas to Dubai. The Fruitas brand, with its suite of fresh and healthy products, is universal and exportable to a lot more territories outside the Philippines,” Lester Yu, the company’s president and CEO, said. The first Fruitas overseas kiosk is located inside BurJuman, a prime shopping mall in Dubai. It offers several product lines such as fruit shakes, pearl shakes and milk tea, fresh fruit desserts, halo-halo and fresh lemonades. Fruitas offers fresh beverages and Filipino desserts to both locals and overseas Filipinos living in the city. The company also said the expansion of its network in the Philippines

“is back in earnest,” with about 60 kiosks and community stores in the pipeline. The kiosk network expansion continues alongside the opening of more community stores, under the Babot’s Farm and Soy and Bean brands, which now number around 20 as of November and targeted to reach at least 30 by end of the year. The group plans to have 100 community stores in 2021 and sees this as a growth engine in the future. Fruitas said it continues to reach more cities in Mindanao, as it recently opened its first kiosk in Koronadal and adding more kiosks in Butuan and Zamboanga City. Fruitas earlier said it added its own premium dairy-based ice cream line and premium soy-based ice cream line to its product portfolio. The ice cream lines will be carried under its flagship brand, Fruitas, for the dairy-based category and its emerging brand, Soy and Bean, for the soy-based category. Both ice cream lines will be allnatural without preservatives and artificial flavoring, handcrafted and

NBI advisory puzzles new Pampanga firm

NGELES Cit y—Lokal Plate Corp. (LPC) on Wednesday said no complaint has been filed against the company and denied any irregularity in its business activities. During a press conference on Wednesday at the Vista Verde clubhouse here, Lokal Plate Corp. (LPC) President and CEO Brian So presented LPC’s articles of incorporation from the Securities and Exchange Commission (SEC) approved last August and its amendment, which was approved on November 11. So said the LPC has not received any complaint filed against the company other than an “advisory” from the National Bureau of Investigation (NBI) not to sell securities to the public. LPC legal counsel Peter Paul Maglalang said it appears that the NBI has been misled by a certain Angela Santos regarding the alleged unspecified irregularities by LPC. He explained that as far as Lokal Plate is concerned, it is not soliciting investments and is not engaged in the trading of securities. LPC said it is in the business of franchising which is compliant with its SEC registration. He said LPC has the articles of incorporation from SEC

to support its claim. “The Securities and Exchange Commission and the National Bureau of Investigation have been misled by an anonymous complaint [from] Angela Santos. Santos is not a franchisee and is not involved in any of our business. We simply don’t know her. We believe that we were deprived of due process,” So said. “As a legitimate business, we don’t tolerate any kind of fraud. Thus, they can expect that we will fully cooperate with any investigation to clear our name and to dispel the rumors that we have no legal authority to engage in franchising or we use franchising to solicit investments.” So also said he is speaking on behalf of the nameless and faceless micro, small and medium enterprises (MSMEs). “I am using my voice to amplify these MSMEs’ silenced voices that could’ve thrived but already fell victims to giants in the industry that will not allow newcomers. At Lokal Plate, we will turn these scars into stars for everyone to see that in the battle between David and Goliath, underdogs can overcome the odds and be successful.” Ashley Manabat

locally made in the Philippines. Fruitas Ice Cream will have eight flavors, while Soy and Bean Ice Cream will be lactose-free. “Ice cream has long been the go-to dessert of Filipinos. Ice cream gives them comfort and reminds them of their childhood, family, and home. Recognizing this customer need,

MUTUAL FUNDS

Fruitas came up with two new premium ice cream lines which will certainly make Filipinos happy, yet keep them healthy at the same time,” Yu said. Both ice cream lines will be available in the shelves of Babot’s Farm and Soy and Bean stores in Metro Manila.

December 2, 2020

NAV ONE YEAR THREE YEAR FIVE YEAR Y-T-D PER SHARE RETURN* RETURN STOCK FUNDS ALFM GROWTH FUND, INC. -A 224.23 -10.42% -7.49% -2.16% -10.96% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.3051 -9.98% -6.38% 1.48% -5.56% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 3.1087 -16.96% -11.22% -3.76% -15.48% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.7894 -11.91% -7.86% N.A. -12.09% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.7505 -11.12% N.A. N.A. -11.63% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 4.8801 -7.54% -5.9% -2.01% -8.41% FIRST METRO SAVE AND LEARN PHILIPPINE INDEX FUND, INC. -A,4 0.7522 -11.19% -8.45% N.A. -11.88% MBG EQUITY INVESTMENT FUND, INC. -A 96.29 -11.05% N.A. N.A. -6.72% PAMI EQUITY INDEX FUND, INC. -A 46.0359 -9.49% -5.47% -0.59% -10.23% PHILAM STRATEGIC GROWTH FUND, INC. -A 482.73 -8.93% -5.38% -1.17% -9.39% PHILEQUITY ALPHA ONE FUND, INC. -A,D,5 1.0695 N.A. N.A. N.A. 3.82% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.1473 -10.55% -5.67% -0.73% -10.85% PHILEQUITY FUND, INC. -A 34.0038 -9.75% -5.2% -0.17% -10.27% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A 0.8991 -10.83% N.A. N.A. -11.69% PHILEQUITY PSE INDEX FUND INC. -A 4.706 -9.06% -4.91% 0.11% -9.91% PHILIPPINE STOCK INDEX FUND CORP. -A 787.23 -8.85% -4.8% -0.01% -9.72% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.719 -17.04% -8.5% -3.75% -15.55% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 3.5667 -14.92% -7.11% -1.7% -15.26% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 0.9014 -9.12% -5.13% -0.11% -9.93% UNITED FUND, INC. -A 3.2824 -9.72% -4.37% 0.51% -10.15% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C 105.74 -8.7% -4.52% 0.77% -9.59% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ATRAM ASIAPLUS EQUITY FUND, INC. -B $1.1817 19% 1.76% 5.85% 14.91% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.6175 19.61% 8.9% N.A. 17.32% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.6369 4.23% -3.41% -1.32% 4.74% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.2458 1.67% -2.34% 0.75% 2.97% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.6066 -0.11% -1.49% -1% -0.95% FIRST METRO SAVE AND LEARN F.O.C.C.U.S. DYNAMIC FUND, INC. -A,1 0.197 -14.64% N.A. N.A. -13.79% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.9525 -0.05% 0.13% 1.64% -0.46% PAMI HORIZON FUND, INC. -A 3.7492 -0.45% -0.82% 0.93% -1.05% PHILAM FUND, INC. -A 16.7698 -0.47% -0.86% 0.83% -1.12% SOLIDARITAS FUND, INC. -A 2.071 -2.49% -2% 0.54% -2.41% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.5371 -7.83% -3.36% -0.4% -8.45% SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D 1.0111 0.54% N.A. N.A. -0.45% SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D 0.9372 -4.93% N.A. N.A. -5.94% SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D 0.9203 -6.39% N.A. N.A. -7.34% SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.8787 -9.52% -4.2% -1.23% -9.86% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03911 2.57% 2.64% 1.98% 2.38% PAMI ASIA BALANCED FUND, INC. -B $1.1295 12.34% 2.31% 4.86% 11.61% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $4.3809 13.64% 6.55% 6.85% 12.02% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A,3 $1.1815 5.69% 2.97% N.A. 4.68% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 369.81 3.7% 3.18% 2.77% 3.32% ATRAM CORPORATE BOND FUND, INC. -A 1.898 -1.53% -0.05% -0.01% -0.21% COCOLIFE FIXED INCOME FUND, INC. -A 3.2101 3.29% 4.59% 4.86% 2.96% EKKLESIA MUTUAL FUND INC. -A 2.2913 3.59% 2.88% 2.43% 3.05% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.4483 4.41% 3.37% 2.24% 3.78% PHILAM BOND FUND, INC. -A 4.6264 6.71% 4.4% 3.2% 5.8% PHILAM MANAGED INCOME FUND, INC. -A,6 1.3167 5.33% 4.41% 2.56% 4.77% PHILEQUITY PESO BOND FUND, INC. -A 3.9798 5.72% 4.48% 3.2% 5.06% SOLDIVO BOND FUND, INC. -A 1.0365 8.55% 3.9% 2.5% 7.49% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 3.1905 5.02% 4.69% 3.73% 3.74% SUN LIFE PROSPERITY GS FUND, INC. -A 1.7443 3.83% 3.97% 3.15% 2.54% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. -A $482.74 3.4% 2.71% 2.92% 3.07% ALFM EURO BOND FUND, INC. -A Є218.65 -0.48% 0.77% 1.15% -0.52% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.2698 5.49% 3.84% 3% 5.19% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0266 3.1% 2.09% 1.83% 3.1% PAMI GLOBAL BOND FUND, INC -B $1.0924 -0.29% 0.85% -0.11% 0.36% PHILAM DOLLAR BOND FUND, INC. -A $2.5298 5.58% 4.02% 3.63% 5.25% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.0621505 3.16% 2.67% 2.3% 3.07% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $3.2215 1.66% 2.22% 2.53% 1.46% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC. -A 129.59 3.3% 3.34% 2.57% 2.99% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A 1.0472 1.86% N.A. N.A. 2.04% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.2947 2.64% 3% 2.62% 2.35% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.0516 1.53% 1.72% N.A. 1.28% FEEDER FUNDS PRIMARILY INVESTED IN PESO SECURITIES SUN LIFE PROSPERITY WORLD EQUITY INDEX FEEDER FUND, INC. -A,D,7 1.0825 N.A. N.A. N.A. N.A. PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM GLOBAL MULTI-ASSET INCOME FUND INC. -B,D,2 $0.97 -2.02% N.A. N.A. -2.02% 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."

Envoys&Expats BusinessMirror

B3 Thursday, December 3, 2020

www.businessmirror.com.ph

SFA WELCOMES ENVOY

The Russian Federation’s Ambassador-designate to the Philippines Marat Pavlov (right) paid a courtesy call on Secretary of Foreign Affairs Teodoro L. Locsin Jr. on November 25. The latter shared his appreciation on the reinvigorated ties between their two countries, as both reviewed the overall status of relations between their two countries and agreed to work together to further boost ties and cooperation in the areas of security, trade and investments, space cooperation, information and technology, as well as health—particularly with regard to the availability of the Sputnik V vaccine for the Philippines. DFA

‘MUJIB BARSHO’ On the occasion of the centennial birth anniversary of Bangabandhu

Sheikh Mujibur Rahman, the founding leader of Bangladesh, its embassy donated books to the National Library of the Philippines on November 26, led by Ambassador Asad Alam Siam (left) and NLP Director Cesar Gilbert Q. Adriano.

Asean, EU hold talks anew on environment, climate change

TOP officials from Asean and the European Union in their recent high-level meet

By Recto L. Mercene

@rectomercene

ENIOR officials from Asean and the European Union (EU) gathered virtually for the second round of their High-Level Dialogue on Environment and Climate Change. During their meeting, the officials discussed their cooperation on shared regional and global challenges related to the protection of the environment and the fight against climate change, as agreed in the joint statement of the 22nd AseanEU Ministerial Meeting. Following the first gathering in July 2019, the second dialogue provided an opportunity for further exchanges of experiences on environmental and climate goals, as well as the promo-

tion of regional solutions for a green transition. Astrid Schomaker, director for Global Sustainable Development at the European Commission’s Directorate General for Environment; Jacob Werksman, principal adviser of the Directorate General for Climate Action; and Hazri Hassan, director for International Policy at the Ministry of Sustainability and the Environment who represented Singapore as the

Asean-EU country coordinator, chaired the meeting. The European Green Deal, the outcomes of the 31st Meeting of Asean Senior Officials on the Environment, and placing sustainability at the heart of the recovery framework, were topics that guided the discussions. Important areas of ongoing and potential cooperation between the two regional entities discussed included plastics and marine litter, circular economy, biodiversity, and natural capital. The EU informed of its intention to work toward a global agreement on plastics—deemed important for both blocs—highlighted the continued implementation of a plastics and marine-litter project in five Asean countries. The dialogue also touched on the subject of chemicals and waste, stressing the importance of promoting safety and sustainability, with reference

to the relevant agreement, as both parties will address waste trafficking and illegal waste dumping. It was also announced that the preparation of an Asean platform on circular economy is underway. The EU supports such, as part of a joint initiative between the two blocs. The platform will facilitate the sharing of good circular practices across Asean, engage key stakeholders, and help design policies that can accelerate a circular economy transition in the latter’s member-states. The two sides directed their attention to biodiversity and natural capital, as they emphasized the importance of next year’s Conference of the Parties to the Convention on Biological Diversity in Kunming, of China’s Yunnan province. It will highlight the urgent need to work jointly toward a realistic and ambitious post-2020 global biodiversity framework. In the second part of the discussion, all officials exchanged views on climate change, including in the areas of nationally determined contributions, concrete mitigation actions, long-term strategies, climate neutrality, as well as latest trends in sustainable finance. Both sides agreed to continue their cooperation on these topics as a follow up to the dialogue’s discussions. The High-Level Dialogue was supported by the Enhanced Regional EU-Asean Dialogue Instrument, a development-cooperation program that facilitates exchanges between the EU and Asean in priority policy areas of joint interest. Drawing on the EU’s experience of regional integration, the E-READI policy dialogue facility further strengthens both the Asean regional integration process, as well as the overall partnership between the two blocs.

New envoy to fortify Japan-PHL bonds T

HE Embassy of Japan recently announced that its countr y’s new Ambassador-designate to the Philippines, Kazuhiko Koshikawa, set foot in Manila on November 26. Upon his arrival, the diplomat expressed his firm commitment to build on the foundations of the long-standing partnership between Japan and the Philippines in a brief statement: “Mabuhay! It is my great honor and privilege to be appointed ambassador of Japan to the Philippines. The relationship between our two countries is a shining example of cooperation and mutual understanding

that our forebears have nurtured. I am delighted to have this opportunity to scale new heights of the bilateral relations and forge even closer friendship. The formidable ties that bind Japan and the Philippines together have undoubtedly ushered us into the ‘Golden Age’ of the Strategic Partnership. This incredible feat in our relations is one encompassing a dynamic narrative of growth and trust. Through the years, Japan’s commitment to bring development closer to the grassroots, [as well as] support the peace process and human security, has brought forth remarkable results in the Philippines, which have bolstered our bilateral ties.

KOSHIKAWA

Beyond the economic and political realms, our people-to-people [bonds have] also persistently showcased

the historical human and cultural connections that further fortify our partnership. As my diplomatic mission here in the Philippines begins, I shall exert every possible effort to further galvanize the foundations that make our bilateral ties special. I look forward to working with the people of the Philippines in realizing my commitments.” Koshikawa was previously the executive senior vice president of the Japan International Cooperation Agency or JICA. He also served as the ambassador of Japan to Angola between 2008 and 2011, as well as Spain from 2014 to 2016, respectively.

A VISIT TO CLARK

Ambassador of Australia to the Philippines Steven J. Robinson AO (left) recently visited the Clark Freeport Zone and met with Clark Development Corp. Officer in Charge Engr. Mariza Mandocdoc, as they discussed updates and developments inside the freeport. CDC-CD

Swiss Embassy lights up Yuletide with ‘little angels’

MAKATI City Mayor Mar-len Abigail S. Binay-Campos and Swiss Ambassador Alain Gaschen

HE Swiss Embassy in Manila formally launched “Angels for Angels: A Christmas Solidarity Action” for the benefit of the Negrense Volunteers for Change Foundation and the International Bazaar Foundation. From November 21 onward, Christmas angels made from upcycled materials will be sold at the Glorietta 2 Concierge, with proceeds supporting programs of the two foundations. The day prior saw the Christmas Tree lighting in the mall, on the occasion of World Children’s Day. Ambassador Alain Gaschen said the date was chosen as a reminder that the “little angels” and their well-being would be the main focus of the project. Guests were able to witness the Christmas tree fully lit for the first time during the event. With a lighted angel on top, the tree will be a fixture at Glorietta 2 symbolic of the action. Gaschen explained it will remain dark, but will slowly regain its light as more angels are sold until the angel on top shines bright as well. “We wish to provide some light

after everything the Filipino people experienced this year,” the envoy stated. “Switzerland has always stood in solidarity with the people of the Philippines. [Our] government has, on various occasions, provided aid to [survivors] of natural disasters, and now supports the efforts of the Philippine Red Cross through the International Federation of Red Cross and Red Crescent Societies for [those affected by Supertyphoons] Rolly and Ulysses...” Gaschen is optimistic of the solidarity action and the resultant change it can bring to the lives of its beneficiaries. The embassy and its partners Glorietta and Greenbelt Malls, Novateur Coffee Concepts Inc., Olympia Violago Power and Brushstroke Creatives invite everyone to be an angel for their little counterparts through this effort. The Christmas angels, to be sold at P100, are made by up-cycling used Nespresso capsules—a symbol of Swiss innovation and sustainability. Aside from the Glorietta 2 concierge, online orders can be made through manila@eda.admin.ch.

US supports PHL’s HIV/AIDS prevention, treatment efforts

N observance of World AIDS Day on December 1, the Embassy of the United States in the Philippines announced the launch of the President’s Emergency Plan for AIDS Relief (PEPFAR) program, which will begin this month. Through PEPFAR, the US government has committed more than P875 million ($18.2 million) over two years for US-Philippines bilateral efforts, with implementation by the United States Agency for International Development (USAID), US Centers for Disease Control, US Health Resources and Services Administration, as well as the US Department of Defense. The PEPFAR program will address the increasing number of people who are living with the human immunodeficiency virus in the country, which has the fastest-growing HIV epidemic in the Asia-Pacific region. Most recent data from the Department of Health’s (DOH) Epidemiology Bureau estimates that more than 110,000 Filipinos are living with HIV in 2020: 37,000 have not been diagnosed; and among those previously diagnosed, at least 18,500 still need to be enrolled in life-saving antiretroviral therapy (ART). This new PEPFAR program will support the Philippine government in reaching the ambitious Joint United Nations Programme on HIV/ AIDS 95-95-95 targets for HIV epidemic control, which means 95 percent of those infected with HIV

know their status, 95 percent of those who know their status receive treatment, and 95 percent of those on treatment achieve viral suppression. Under this new assistance, USAID will work with the DOH and local community organizations to implement activities in Metro Manila, Central Luzon, and Calabarzon. These are considered the highest HIV-burden areas in the country, where an estimated 63 percent of persons living with the disease nationwide reside. USAID will expand the country’s prevention strategy by increasing access to HIV pre-exposure prophylaxis, strengthening HIV testing and casefinding in the post-pandemic era, as well as connecting HIV-diagnosed clients with better treatment regimens and retention programs. “As a friend, partner, and ally of the Filipino people, we remain committed to assist the Philippine government in addressing this disease, so that the country can meet its development objectives in health and progress along its journey to self-reliance,” said USAID Acting Mission Director Patrick Wesner. The support also comes at a critical time, as the pandemic has hindered HIV testing and treatment coverage. Figures from January to June 2020 show a 41-percent year-on-year decline in new HIV diagnoses, and a 51-percent drop in ART initiation from 2019.

TheBroa

Business

B4 Thursday, December 3, 2020 • Editor: Dennis D. Estopace

Gold leaf farming sector still s By Jasper Emmanuel Y. Arcalas @jearcalas & Cai U. Ordinario @caiordinario

Reporters

HE past five years of the Philippine tobacco industry paint a bleak future: dwindling tobacco area and declining number of farmers. The major culprit? Falling domestic cigarette consumption due to higher excise taxes and antismoking initiatives both by the government and the private sector. Despite this, the tobacco industry, which started in the late 16th century, remains among the cornerstones of Philippine agriculture. The crop, also called gold leaf, still brings more than P3 billion worth of value to the agriculture sector annually. Latest National Tobacco Administration (NTA) data shows that total hectarage planted with tobacco plunged to a decade-low of 18,911 hectares last year. Likewise, the number of tobacco farmers in the country last year fell to its lowest level in 10 years at 29,839 tillers, based on NTA data obtained by the BusinessMirror. Despite these reductions, tobacco production in 2019 recovered to 46.571 million kilograms, halting a 9-year skid of output since 2010, the NTA data showed. The volume was 7.7-percent higher than the 43.241 million kilograms recorded in 2018, which was the lowest output since 2010.

Better adoption

NTA OIC-Deputy Administrator for Operations Roberto R. Bonoan said last year’s production recovery was caused by favorable weather conditions and better adoption of recommended technology by farmers. Bonoan explained to the BusinessMirror that farmers have been receiving farm interventions from the NTA and leaf buyers (like seedlings). They also receive incentives if they follow proper technology applications. These incentives include farm inputs and subsidies, cash assistance, firewood assistance and gas, among others. Despite these interventions, Bonoan admits that the local tobacco industry still lags behind other countries in terms of productivity due to low adoption of farm machinery that could make farm work easier and more efficient. No less than Agriculture Secretary William D. Dar stated that there is a need to make Filipino tobacco farmers “more competitive.” Dar, who sits as chairman of the NTA governing board, emphasized the need for an industry development plan that would “elevate” the industry’s productivity to be at par of foreign tobacco producers. “We have to use all available resources to accelerate the modernization and industrialization of the tobacco industry, and see to it that the tobacco farmers will have more income,” Dar said during the NTA’s 33rd anniversary in July when he emphasized the goal of “Masaganang Ani at Mataas na Kita [abundant harvest and high income].”

Industry roadmap

TWO years ago, the NTA started crafting an industry roadmap to chart the future of the tobacco farmers, especially in light of rising sin taxes, declining cigarette consumption and rising number of tobacco alternatives like vaping.

The NTA tapped the University of the Asia and the Pacific (UA&P) Center of Food and Agribusiness to conduct an industry study that would be the basis for the roadmap. By 2018, the study was completed and a tobacco industry roadmap was presented to the various stakeholders of the industry. The NTA noted then that the roadmap would guide the industry toward “improving farmers’ incomes, increasing exports, job creation and crop diversification including alternative farming systems, and provide inputs for the development of the manufacturing industries.” But a key factor in achieving such goal was the “appropriate and effective use of the Tobacco fund.” The tobacco fund was created by the 56-year-old Republic Act 4155, which seeks to promote the country’s Virginia tobacco industry. The fund comprises half of all the tariffs or taxes on imported leaf tobacco collected and half of the total special taxes on locally-manufactured Virginia type cigarettes.

Zeal in devt

AS of the end of 2019, Department of Budget and Management (DBM) documents showed that the tobacco fund stood at P71.86 billion. The DBM document said the fund could increase this year to P80.751 billion and P89.642 billion by next year. However, bulk of the fund remains parked in government coffers due to the lack of a sound and proper program that would convince the DBM to release the funds for the further development of the tobacco industry. Since 2015, the tobacco fund has been increasing by at least P6 billion to as high as nearly P10 billion. Total taxes and tariffs remitted to the tobacco fund last year reached P9.717 billion. In contrast, government expenditure using the tobacco fund is barely scratching the surface. DBM documents analyzed by the BusinessMirror showed the NTA was only able to use from 2015 to 2019 a measly average of P500 million of the parked money. Last year, the NTA spent only P401.370 million from the tobacco fund; this was only 0.55 percent of the total pool. “We could hardly get some releases from the tobacco fund unless we submit a comprehensive and sound program,” Bonoan told the BusinessMirror.

Proposed Step

BONOAN says they are keeping their fingers crossed that the proposed 5-year Sustainable Tobacco Enhancement Program (Step) would be approved and would be a “step” in the right direction in tapping the tobacco funds and unlocking the remaining potential of the industry. Bonoan explained that the Step seeks to fast-track the “modernization and industrialization” of the industry. The Step is also now considered as the “new and improved” tobacco industry roadmap aligned with Dar’s paradigm. The proposed Step, which will

run from 2021 to 2025, targets to double the net income of tobacco farmers by the 2024-2025 market period from 2019-2020 benchmark through increasing their revenues by double digit growth. The industry blueprint also seeks to achieve the following: 1) meet leaf buyers’ requirements for quality tobacco, 2) increase marketability of tobacco through technical, financial and marketing support, 3) efficient use of resources or saving in cost of production, 4) diversification towards other high value crops and 5) modernize or mechanize farm activities. “The targets are defined based on productivity and income rather than area expansion, because tobacco is mainly market-driven. Industry players rely on demand from international buyers in programming their production. They cannot program expansion beyond what the market absorbs, otherwise they will incur losses,” the NTA said in a program overview provided to the BusinessMirror.

Area of production

THE NTA document added that “the efforts are focused on the institutionalization of farm clustering, along with modernization, industrialization of agriculture, export promotion and infrastructure development, as a key strategy for food security, while enhancing the development of the Philippine tobacco sector.” The NTA said tobacco block farming would serve as a pillar of the 5-year plan as consolidating or clustering tobacco growers into one large production area would be a more efficient measure to improve their production. Block farms would then receive a series of farm interventions including farm machineries, certified seeds, subsidized fertilizer, pesticides and credit services. T he N TA e x pl a i ne d t h at through this program, traditional small-scale tobacco-rice farmers, who at an average own less than a hectare of land, into large commercial food systems or networks.

Production, post-harvest

AT the end of the 5-year plan, tobacco farmers would have “more efficient farm production and post-harvest operations” while having “more efficient marketing and distribution of their produce,” according to the NTA. “This will make the farmers competitive and resilient, and strong enough to face challenges affecting the tobacco industry,” the NTA, an attached agency of the Department of Agriculture, said. However, the five-year plan’s ambition comes with a caveat: an annual P7-billion utilization of the Tobacco fund at least over the first three years of the program or P21 billion in total. If the NTA would be able to spend such an amount, Bonoan said then tobacco farmers could be self-sustaining as early as the end of the third year of the program and would not need any additional interventions afterwards. “If we would be able to get as much as P20 billion per year then it would be better,” Bonoan said, noting that the Tobacco fund continues to accrue revenues from imports and local production.

Engaging in blocks

THE NTA said it will establish two model block farms in each of its eight branch offices nationwide for the initial implementation of the program. A block farm would be formed by consolidating 25 hectares of contiguous tobacco area, which is equivalent to about 50 to 75 farmers per block.

Bonoan said they have already identified 16 block farms nationwide, with some even exceeding the 25-hectare minimum requirement. He added that the NTA would assign one technician per block farm to assist in the land consolidation and economies of scale. Some of the block farms are in Vigan, Ilocos Sur; Badoc, Ilocos Norte; Candon, Ilocos Sur; Santa Maria, Ilocos Sur; Alcala, Pangasinan; Quezon, Isabelal and, Tuao, Cagayan. “With this, distribution and use of farm machinery would be more efficient since farmers would not rent farm machinery individually anymore,” Bonoan said. The NTA said the interventions that would be provided to the block farms would cover its strategic programs concerning market research and trade developments, accelerated farm services, community research management and cooperative farming operations and agribusiness and institutional development. “Within the block farm are the component projects and programs for one block farm. Actually, these are our current projects and programs for tobacco-rice production marketing and livelihood programs. The new projects are the farm mechanization

and the agribusiness enterprise below the big circle,” it added.

Reach for a goal

CENTER for Food and Agri Business (CFA) of the University of Asia and the Pacific (UA&P) Executive Director Rolando T. Dy said the NTA’s plan to push block farming in tobacco is meritorious. The idea is that a cluster of farmers will coordinate their land preparation and planting. However, there is a need to have a central nursery and there must be a clear focal person for each block. In the v iew of UA&P CFA Senior Agribusiness Specialist Mar ie A nnette Ga lvez-Dacul, the government’s sustainable tobacco program is the “way to go for the industry to be competitive because it brings the best standards in agricultural practices.” Consolidation brings about economies of scale. Briones agreed and said block farming could work for the tobacco farmers. However, a certain level of economies of scale is needed. This means investing in a more efficient curing process that will allow the movement away from coal. This, nonetheless, would increase the processing cost of farmers. Briones said, if the economics of this cost can be justified, block

farming can be a good way to continue farmer’s incomes and the tobacco industry as a whole. Briones said for block farming or land consolidation to work, the government should endeavor to change the country’s laws. He said presently, the Comprehensive Agrarian Reform Law (Carl), which gave birth to the Comprehensive Agrarian Reform Program (CARP), doesn’t allow land consolidation. The law, passed in 1988, aims to achieve “a more equitable distribution and ownership of land” in the country. Briones believes that land policy should “look not on the bondage to farmers but [land’s] bondage to poverty.” “If you release them from poverty, whether they cultivate the land or not, that’s better.”

Other sectors

FARM mechanization has always been one of the NTA’s key programs in order to increase farmers’ productivity. From 2018 to 2019, the NTA said it has distributed 26 tractors to tobacco farmers’ cooperatives in Region 1 and Abra. For the current crop year 20202021, the NTA said that it has given 17 units of 4-wheel tractors and 16 power tillers to cooperative-beneficiaries as well as nine

aderLook

sMirror

www.businessmirror.com.ph • Thursday, December 3, 2020

searching for own El Dorado With this extra income, farmers are able to see some improvement in their lives. This has also translated to improvements in the poverty rates of provinces where they live.

Hard work

PSA data showed that poverty incidence among families in 2018 was in the single-digits in the provinces where a significant amount of Virginia tobacco is being grown. These provinces are Ilocos Sur, Ilocos Norte and La Union. Based on PSA data, the poverty rate among families in La Union was the lowest at 2.9 percent followed by Ilocos Norte at 3.1 percent and Ilocos Sur at 5.5 percent. “Mababa ang poverty incidence sa tobacco provinces, may implications for that. [Poverty incidence in tobacco provinces remains low; this has implications.] Among the rural regions of the country, Ilocos has one of the lowest poverty incidence. This was 2018,” Dy said. “I have to give it to the hard work, diligence of the Ilocanos.” Of the three provinces, Ilocos Sur produced the most Virginia tobacco at 20,184.46 metric tons (MT) in 2018. This was followed by La Union at 2,945 MT and Ilocos Norte, 2,931.14 MT. In that year, the country’s total Virginia tobacco production reached 29,788.5 MT. This accounted for 59.13 percent of the 50,381.07 MT total tobacco production of the Philippines. In terms of total tobacco produced in 2018, Ilocos Sur produced the most at 22,153.46 MT followed by Isabela with 9,385.9 MT and La Union with 5,221.3 MT. “The earnings of farmers from tobacco farming is better than (what they can earn from) palay,” Dy told BusinessMirror. He said to produce five tons of palay per hectare at a farmgate price of P15 would lead to earnings of P75,000 per season.

Job ruzgal

Ensuring help

solar-powered irrigation systems (SPS-IS) installed in tobacco-producing provinces, servicing 47.38 hectares of area. The NTA said the use of farm machinery is critical in improving farmers’ productivity since tobacco production is labor intensive. The use of tractors and power tillers reduce farmers’ costs at the land preparation level. The loss of farm workers in the agriculture sector in general due to greener pasture in other sectors of economy has also become a burden to tobacco production since labor costs have doubled in recent years. Dy said efforts to modernize the sector are in order. Using fuel tractors rather than pedestrian ones, especially for farms that are proximate to each other would help in land preparation efforts.

Farmers poorest

FILIPINO farmers are among the poorest in the Philippines. According to the Philippine Statistics Authority (PSA), the poverty rate among farmers was at 31.6 percent in 2018. While this is lower than the 40.8 percent poverty rate recorded in 2015, this is still the highest poverty rate recorded in all sectors in the country. However, Philippine Institute

for Development Studies (PIDS) Senior Research Fellow Roehlano M. Briones told the BusinessMirror that for farmers in tobaccoproducing provinces, growing the golden leaf offers a way out of poverty. “It’s a cash crop so even on a smaller land area, pwede pa ring malaki ang kita mo [you can still get a bigger income], especially if you sell one of the higher grade types of tobacco. So up to two [times] to three times more ang income mo sa tobacco compared to rice,” Briones said. “ That’s still the case because actually a lot of our high grade tobacco is being exported as well. We actually export numerous types of tobacco and even finished tobacco products.” Tobacco, as a crop that thrives in dry conditions, is a good alternative for rice farmers. While rice is mainly grown during the wet season, the dry season would see farmers planting other crops, including tobacco. Briones said tobacco offers to increase the income of farmers by 2 to 3 times.

Translating to improvements

DY said growing tobacco has been instrumental in poverty reduction in provinces where the crop is grown. He said the returns in

tobacco farming could be around P600 per kilogram on average for Virginia tobacco while for Burley, about P100 per kilo. The NTA data showed that tobacco is grown in 21 provinces nationwide. Virginia tobacco is grown in Ilocos Norte, Ilocos Sur, Abra and La Union in Region 1. The same provinces along with Pangasinan, Isabela, Cagayan, Tarlac, and Occidental Mindoro also grow Burley tobacco. The NTA said native and/or dark tobacco is grown in Pangasinan, La Union, Cagayan, Isabela, Nueva Vizcaya, Quirinio, Capiz, Iloilo, Cebu, Negros Oriental, Leyte, Zamboanga del Sur, Bukidnon, Misamis Oriental, North Cotabato and Maguindanao. Galvez-Dacul said based on 2018 estimates and at a support price of P78 per kilo, farmers growing Virginia tobacco could earn around P48,000 per hectare per year to P76,500 per hectare per year since tobacco farmers only plant once a year. In the areas they visited for their 2018 study, Dacul said those planting native or Burley tobacco alongside rice or corn earn around P45,000 per hectare for two cropping. This means planting tobacco is necessary to keep farmers financially afloat.

DY said tobacco farming is laborintensive, making it more expensive in terms of inputs but one that leads to higher returns. He said the labor-intensive nature of tobacco farming is one reason cited by some farmers in Mindanao to quit planting the crop. However, local governments have the ability to help these farmers, given the proceeds from the tax collection that have been earmarked for them. Dy said under this arrangement, farmers and LGUs in the Northern Philippines, specifically Ilocos Sur, have the most to gain since they are the largest producer of Virginia tobacco. With this, LGUs need to be “creative” to ensure that farmers get the help that they need. This also means continuing to plant tobacco will guarantee the continuation of the flow of these funds to the locales where tobacco is planted. This will also warrant the poverty reduction in these areas. Under RA 7171, Virginia tobacco-producing provinces and municipalities shall receive 15 percent of the total excise tax collected from locally manufactured Virginia-type of cigarettes but the total amount cannot exceed P17 billion as amended by RA 11346. The amount is allocated among Virginia tobacco producing provinces on a prorated basis of their production volume. Likewise, Burley and native tobacco producing provinces and municipalities receive a 15-percent share of the total excise tax collected, as mandated by R A 10351 or the sin tax law, which is divided among them on a prorated

production volume basis. For the 2017 excise tax collections, Virginia tobacco producing LGUs received a total amount of P14.401 billion while burley and native tobacco LGUs would get P3.607 billion, latest DBM data showed.

Yet to release

DESPITE its impact on the lives of farmers, the initial version of the Philippine Development Plan (PDP) 2017-2022 or the Duterte administration’s medium-term socioeconomic plan did not mention tobacco, not even once, in its 296 pages. The government has yet to release an updated version of the PDP as of press time. National Economic and Deve lopment Aut hor it y ( Ned a) Regional Development Group OIC-Undersecretary Mercedita A. Sombilla told BusinessMirror that this was mainly because tobacco was already included under the general umbrella of crop diversification efforts. Based on the PDP, the Duterte administration aims to create “an integrated color-coded agricultural map” that can serve as a production guide on which crops and agricultural activities are suitable in a particular location. This map will take into consideration “climatic types, topography, and socioeconomic conditions.” However, no mention of the specific crops that will be included or if tobacco is included in this effort. “(Tobacco is) not specifically (mentioned in the PDP). (However, it is) part of strategy to promote crop diversification but there is no particular policy on it,” Sombilla said. For economists like Briones, this aversion toward including policies that will further the tobacco industry is no longer a surprise, especially with the passage of the sin tax law. Briones said the sin tax law put into perspective Filipino’s priorities, which included health.

Earmarking appropriation

LAWS that prevented tobacco firms from advertising or sponsoring events, Briones said, have significantly affected the tobacco industry compared to the days when laws like the sin tax law did not exist. “’Nung bata pa ‘ko, meron pang [When I was young, there was the] Marlboro Tour, Tour of Luzon, ironic [isn’t it]? So you can excise the mention of a brand name. [There’re still] cigarette companies sponsoring sports events. That’s how open it was before. But now you don’t see that anymore because they’re all banned, right? So definitely, the development of the domestic market is not a good potential. At a loss ‘yung industry,” Briones said. Apart from policies that support the tobacco industry, Briones said questions have been raised on the transparency of the use of funds. He said a portion of the funds could be provided to local governments through lump sum amounts which could be difficult to account. Briones said one way to improve transparency in the use of the funds is the policy or earmarking the appropriation of the collection. However, this “earmarking policy” is creating a new problem that perpetuates the health and environmental risks posed by the tobacco industry.

Also limiting

THE World Health Organization (WHO) considered tobacco consumption an epidemic that kills 8 million people every year globally. Over 7 million of these deaths

were the result of direct tobacco use while around 1.2 million are the result of non-smokers being exposed to second-hand smoke. The Department of Health (DOH) said there are 40 smokingrelated diseases which include lung cancer, chronic obstructive pulmonary disease, heart disease, and stroke. The same diseases are among the top causes of death of Filipinos, according to data from the PSA. Briones said the stern warnings issued by the WHO and the local departments of health globally are also limiting the growth and development of tobacco in many international markets. Countries in Europe, Indonesia, and China are slowly cutting back on their tobacco consumption. Apart from the health concerns, Briones said there are also environmental risks associated with tobacco. He said the curing process of tobacco still uses coal, which is considered a source of Greenhouse Gas (GHG) emissions. GHGs are being touted as among the causes of global warming, which triggers extreme weather events such as strong typhoons, prolonged dry spells, and even the rapid pendulum swings between El Niño and La Niña. “Hindi naman bawal gamitin ang coal, di ba? [Coal use isn’t prohibited, isn’t it?] But nobody in these days of climate change wants to encourage coal unless you’re [a] hardcore coal industry. It’s a kind of industry that you would like to move out of in the long run. In the long run, (the tobacco industry is) not really an industry we want to encourage and promote. It’s going to be like coal. One day, it should be obsolete,” Briones said.

Recent years

THE country’s tobacco exports where the bulk of the local production goes, continues to rise in recent years. Total tobacco exports last year rose by 4.1 percent to 83.152 million kilograms, the highest volume on record. Of the total volume, the bulk were manufactured tobacco products at 48.569 million kilograms while the remaining volume of 34.583 million kilograms were u n m a nu f a c t u re d , N TA d at a showed. Export receipt from total tobacco exports last year grew by 7.71 percent to a record-high $550.488 million with the bulk coming from manufactured products worth $414.066 million. Bonoan said the improved quality of Philippine tobacco has been one of the major factors in the rise of shipments over the years. But increasing export numbers do not mean a stable market for tobacco, especially since governments and private sectors have been more aggressive in curtailing smoking globally. “Some industry players are saying that tobacco demand may increase due to the development of new generation products like e-cigarettes and heated-tobacco products,” he said. In fact, Bonoan disclosed that local leaf buyers have already committed to purchase 50 million kilograms of tobacco this 2020-2021 crop year. But if it was up to Briones, using the funds for health needs of tobacco-related diseases would be a much better use of the proceeds of taxes. If there is any more left, Briones said maybe the government can finance research needed for the country’s “export winners” such as bananas or those where the country could gain a competitive advantage such as rubber.

B6 Thursday, December 3, 2020

7-Eleven elevates home meals with HottaUlam Boracay Island Devopment Authority pushed

ITING the combined weak implementation of the environmental laws and indifference to them by the people, Sen. Cynthia A. Villar pushes for the creation of the Boracay Island Devopment Authority (BIDA) to sustain its rehabilitation done by President Rodrigo Duterte’s administration. In filing Senate No. 1914 or an “Act Creating the Boracay Island Development Authority (BIDA),” Villar noted that despite the existence of landmark laws such as RA No. 9003 or the “Ecological Solid Waste Management Act” and RA No. 9275 or the “Philippine Clean Water Act,” the environment continues to gravely suffer from degradation. “The Boracay Island, which is one of the best beaches in the world and considered a world-famous jewel of Philippine tourism, was not spared from environment degradation,” said Villar as she sought for the approval of her proposed measure. “Through the years, Boracay Island gained popularity and became a top tourism destination in the Philippines, thereby ushering in developments, such as hotels, restaurants, bars and rental houses that were built over the island

to provide accommodation to the evergrowing number of tourists,” also said Villar added. The exponentially increasing number of tourists, Villar stressed, became unsustainable and breached the island’s carrying capacity. “The apathetic concern for the environment amidst the thriving development on Boracay, along with the weak implementation of the environmental laws by authorities eventually led to the polluted Boracay Island then,” she said. In 2018, there were several news reports exposing the environmental problems besetting Boracay Island, particularly the improper solid waste management and deficient sewerage system. Due to the sorry state of the island’s sewerage system, President Rodrigo Duterte said “Boracay is a cesspool”. The persistent environmental degradation of Boracay prompted the President to issue Proclamation No. 475 on April 26, 2018 declaring a temporary closure of the island as a tourist destination for six months so that it would be rehabilitated. The President also issued Executive Order No. 53 creating the Boracay

Inter-Agency Task Force (BIATF) to ensure the rehabilitation and ecological sustainability of Boracay. For fhe long term sustainability and rehabilitation done on the island, tne BIATF proposed the creation of BIDA, attached to the Office of the President. It will promote and accelerate the sustainable development and balanced growth of Boracay Island. The composition of BIDA will include representatives from DENR, DILG, DOT, DPWH. DOH, DOJ, Aklan Governor, Malay mayor, all ex-officio members, a general manager to be appointed by the President and 2 representatives from the private sector. Earlier, Villar received a letter from DENR Sec. Roy Cimatu requesting her to sponsor the BIATF’s draft bill on the creation of BIDA. Cimatu said the creation of BIDA is seen to be a long-term solution to address the root cases of environmental degradation in the island as the existence of BIATF will expire on May 8, 2021. “In its two years of existence and steadfast efforts in rehabilitating Boracay Island, the BIATF has had to undo the decades of mismanagement of the island’s resources, and rampant violation of environmental laws.

Meralco hauls 2 bronze at 2020 Asia-Pacific Stevie Awards for energy efficiency and digital communication campaigns

OLLOWING five bronze wins for its 2019 sustainability report and One Meralco Foundation initiatives during COVID-19 at the prestigious 2020 International Business Stevie Awards, Meralco came away with an additional two bronze trophies at the recently concluded 2020 Asia-Pacific Stevie® Awards. The Stevie® Awards are the world’s premier international business awards program, and the Asia-Pacific competition pits the best communications campaigns and business innovations from 29 nations in the Asia-Pacific region. One of Meralco’s wins was for a communication campaign called, Energy Efficiency, a Mandate: Understand. Comply. Profit, a narrative on the utility’s understanding of its role in nationbuilding and sustainability beyond power distribution. Meralco has evolved into an end-to-end energy solutions provider via services offered by its subsidiaries like solar and energy efficiency solutions. To recall, greater attention on energy efficiency and clean energy came with the passing of the Energy Efficiency and Conservation Law (RA 11285), which mandated operationalizing and institutionalizing energy efficiency across industries; and the United Nations’ renewed call on its 16 Sustainable Development Goals (UN SDGs), which included universal aspirations for affordable and clean energy, identified as UN SDG 7. Meralco then launched a comprehensive campaign encouraging enterprise customers to make energy efficiency an integral part of operations, and also began an expansive electrification program of unserved areas with clean energy sources.

POWER Club, Meralco’s digital publication publishes news on energy industry developments, and Meralco’s operations and service offerings, especially during the pandemic.

Meralco’s second award was for its digital publication, with entry title, Power Club: Brighter Partnerships for Tomorrow. Started as a quarterly print magazine distributed to its enterprise customers in 2011, Power Club went online (https:// www.powerclub.com.ph/) on October 2018 as part of the utility’s digital shift. As the pandemic severely restricts physical movement, Power Club has proven indispensable in communicating Meralco’s COVID-19 operations and initiatives, particularly with helping customers understand their bills during the long quarantine period. It continues to publish news on prevailing trends in the energy sector, stories of successful partnerships with notable enterprise partners, and posts articles and videos intended as a blueprint of what a Meralco partnership may contribute to businesses. Winners in the seventh annual AsiaPacific Stevie® Awards were announced last July 2020. The list of Gold, Silver and Bronze Stevie Award winners is available at http://Asia.StevieAwards.com.

In spite of the pandemic and the resulting restrictions in movement, Meralco, the Philippines’ largest electric distribution utility, has been relentless in communicating the relevance and benefits of energy efficiency solutions in the form of webinars and virtual meetings and digital platforms, such as Power Club. “We are both honored and humbled for all the Stevie recognitions of our efforts,” said Meralco Senior AVP & Head - Marketing Edeliza T. Lim. “As a provider of an essential utility service, we realize the need to create programs that bring customers and Meralco together to work towards a common vision – particularly during this year.” “Our economy has been challenged enough by the pandemic, causing tremendous strain on many of our partners. The Stevie Awards acknowledges that a customer-first approach still has a place in any business operation. And we hope that any insights our customers can glean from our initiatives can help resuscitate their businesses and bring the economy back on track,” she closed.

HESE days, people are spending most of their time inside their homes and getting busy with work. With everyone finding themselves having to do a balancing act between work life and home life, there’s just not enough time and energy spent on certain things, specifically preparing meals. In some circumstances, preparing meals for the day is an inconvenience if it’s just a meal for one. With this, people are finding new and creative ways to satisfy their cravings quickly and effortlessly. 7-Eleven, the leading convenience store chain in the Philippines, presents its latest offering to provide customers an affordable, convenient, and safe solution for their everyday home meals. These viands are guaranteed to make each meal delicious without the hassle of cooking. HottaUlam are single-serve, ready-toheat viands everyone can prepare easily. Starting at P55, customers can choose from 8 HottaUlam viands that will accommodate their palate and everyday food cravings. The HottaUlam single-serve viands include: Chicken BBQ, Pork BBQ, Fried Bangus, Ginataang Langka, Pinakbet, Pork Laing, Rico’s Lechon Binagoongan and Lechon Sisig. To further treat customers, 7-Eleven is also

launching its COMBUSOG promo. By availing the COMBUSOG promo, customers can buy 2 HottaUlam viands and get 1 free rice. HottaUlam viands are now available in select Luzon stores only, with the COMBUSOG promo running until December 15, 2020. For more information, follow 7-Eleven Philippines on Facebook and Instagram, or visit www.7-eleven.com.ph.

Chelsea Logistics provides safe, quality sea transport via Starlite RoPax Ferry and M/V Venus

/V Starlite Venus kicked off its maiden voyage in the BatangasIloilo-Bacolod route on November 12. Capable of holding 688 passengers and mixed rolling cargoes of 28 units of trucks, buses and private cars, Starlite Venus is the biggest RoPax vessel that Starlite Ferries has acquired since its incorporation 25 years ago. This new route is intended to improve the trade and commerce relationship between the Western Visayas and South Luzon markets as logistics companies and passengers coming from CALABARZON no longer have to bear the traffic congestion in Metro Manila just to pass via Manila North Harbor. This will cut not only the logistics cost but also the travel time via sea by 6 hours. With the community quarantine still being implemented at this time because of the COVID pandemic, Starlite Venus will initially cater to the needs of LSIs, APORs, and ROFWs allowing them to travel directly to Iloilo and Bacolod from Batangas for faster and more convenient sea travel. This will also

lower the cost of Iloilo and Bacolod LGUs in picking up LSIs from Caticlan Jetty Port. “This ship is more than what we see before us. Gathering here today to inaugurate M/V Venus is taking a big leap towards recovery – not only for the Chelsea Group, but also for the country. As we provide safe and quality sea transport for Filipinos, we are also upholding the universal standard for protection and sustainability of our environment with this brand-new vessel," Chelsea Logistics President & CEO Chryss Alfonsus V. Damuy said. Specifically designed to ply Philippine waters, M/V Venus is Starlite Ferries’ ninth brand-new vessel made in Japan and the 12th brand-new vessel among its 14-vessel fleet. With this newest addition, Chelsea Logistics now has a 75-strong fleet. Starlite Venus will sail from Batangas to Iloilo every Thursday and Saturday at 12pm; from Iloilo to Bacolod every Friday and Sunday at 6am; and from Bacolod to Batangas every Friday and Sunday at 12pm.

Mestiza: The secret to a healthy skin

ESTIZA Healthy Skin Soap is a tried-and-true, go-to product that’s guaranteed organic and ultra-gentle. Each bar goes through a cold process method (saponification) that ensures the benefits of all ingredients used are preserved in each bar to produce a 100% vegan, cruelty-free, locally-made genuinely natural bar of soap. The unique fusion of natural botanicals that make up Mestiza Soaps offer inherent benefits for your skin. Each bar is infused with extra premium virgin coconut oil, mixed with carrot, papaya, banana, and calamansi extracts. The combination of ingredients make it ideal for sensitive skin--there are no harsh ingredients or

chemicals in Mestiza Soaps. And the result is a product that you can rely on to effectively cleanse your skin by gently removing dirt and excess oil, leaving your skin clean, soft, and supple. It’s a single bar that can do it all for you. Depending on your your skin type, there are Mestiza Prime variants that can help you achieve that coveted healthy skin glow. And with its new packaging, you also get to enjoy more from every bar—125g at the same retail price. Tune in to FB Live @mestizaphilippines every Friday at 4:30pm for the weekly #BeauTalk where Mestiza invites skin experts to tackle questions about achieving healthy skin.

Editor: Anne Ruth Dela Cruz

Health&Fitness BusinessMirror

Thursday, December 3, 2020 B7

Having a stroke? Rush to the nearest stroke-ready hospital

By Claudeth Mocon-Ciriaco

tive at the global level, aims to encourage persons experiencing signs and symptoms of stroke (“BE FAST”) to seek emergency care regardless of the pandemic situation. Despite the Covid-19 pandemic, stroke is a medical emergency so people with stroke should not just stay home but go to the emergency room/hospital to get appropriate and immediate treatment. In the Philippines, the local Angels Team adopted the #StrokeDontStayAtHome campaign’s objective of educating patients and putting attention to stroke as a medical emergency.

arangay Kagawad Roberto Ramos, 44, was having a stressful day which eventually led to a medical emergency where he suffered a stroke. Prior to his attack, Ramos always complained of frequent severe headaches. He spent several days in an intensive care unit of a private hospital in Bacolod City. Although stroke is common in persons over 60 years old, Dr. Maria Espifania V. Collantes, who is the head of Stroke Services at the Philippine General Hospital, said there are also stroke incidence rates in those 45 years of age and below. Dr. Collantes said that young adults may also experience stroke due to stress and other risk factors like smoking, drinking alcohol and lack of sleep. She even cited that those working in call centers, who are deprived of sleep, are also at risk.

toms] in young people different compared to the older population? Sometimes, it is more subtle in the youth,” Dr. Collantes said in an online media forum. She explained that stroke happens when the blood flow to an area of the brain is cut off. It also happens when the brain cells are deprived of oxygen and brain cells begin to die. When this happens, the abilities that are controlled by those areas in the brain lose their function. She said, people should remember “BE FAST” signs of stroke. “B stands for Balance difficulty; EEye changes; F-Face drooping, crooked smile; A-Arm weak or numb; S- Slurred speech; and T-Time to call an ambulance or go to the hospital,” she said.

Symptoms

Types of stroke

Stroke is the second leading cause of death in the Philippines as it accounts for 65.55 deaths per 100,000 population. “Is the manifestation [of the symp-

She said that there are two main types of stroke:

1. Ischemic—a

blockage in the brain’s blood supply which accounts

Stroke-Ready hospitals for about 80 percent of all strokes; and

2. Hemorrhagic—a leak or rupture in a blood vessel in the brain

Risk factors To prevent stroke, she stressed that the following factors associated with higher risk of the illness should be avoided: n Lifestyle: Being overweight or inactive, cigarette smoking, heavy drinking n Medical: High blood pressure, diabetes, high cholesterol, history of cardiovascular diseases

The “Golden Hour”

The burden of stroke

Dr. Collantes also stressed that “time is of the essence” for immediate treatment of a stroke for it can “minimize the long-term effects and help reduce the risk of death from stroke.” This is particularly critical for ischemic stroke, where the treatment is only effective within 4.5 hours of the onset of symptoms. Outcomes are the most optimal when patients receive treatment within 60 minutes following the onset of stroke symptoms. “This window is known as the ‘Golden Hour,’” she added.

Globally, Dr. Collantes shared that 17 million people worldwide suffer from stroke annually. Likewise, 1/3 of the 17 million die as a result while another third is left permanently disabled. Stroke in Asian patients accounts for more than two-thirds of the overall incidence of stroke worldwide.

#StrokeDontStayAtHome Campaign The #StrokeDontStayAtHome campaign, initiated by the World Stroke Organization and the Angels Initia-

Collantes said that it is important to know which institutions to go to when you have a stroke patient. Institutions that are stroke ready should have the following: n a 24/7 CT scan; n have the capacity to administer thrombolysis (the treatment to dissolve dangerous clots in blood vessels, improve blood flow, and prevent damage to tissues and organs); n have a trained stroke team. For a list of acute stroke-ready hospitals, you may visit the Stroke Society of the Philippines web site (https:// www.strokesocietyphilippines.org/).

Nurses play important Migraine affects work performance, study shows roles in diabetes care

By Rory Visco Contributor

ccording to key figures in the 9th edition of the International Diabetes Federation (IDF) Atlas 2019, 1 in 11 adults or about 463 million people aged 20-79 years have diabetes while 1 in 2 adults, or about 232 million, with diabetes are undiagnosed, and 1 in 5 people with diabetes or 136 million are above 65 years old. The IDF estimates that 163 million people suffer from diabetes in the Western Pacific region, and will balloon to 212 million by year 2045. The Philippines, one of 39 countries and territories within the IDF Western Pacific (WP) region, has long been considered a hotspot when it comes to the number of people with diabetes. Of the country’s adult population of 63.265 million, about 6.3 percent, or almost 4 million adults, suffer from diabetes. As the number of people with diabetes continues to rise across the world, the role of nurses and allied health care professionals has become increasingly important in managing the impact of diabetes on people. This is why the central theme of this year’s observance of World Diabetes Day is the “Nurse and Diabetes.”

Foundation of health care

Nurses are considered the foundation of health care and they account for more than half of all health care professionals around the world. Even when it comes to supporting people with diabetes, they remain on the frontlines. “Nurses are one of the first health care professionals who attend to the needs of the patient, and are vital figures in diabetes management,” said Leyden Florido, president of the Philippine Association of Diabetes Educators (PADE), IDF— WPR Executive Board Member, and a leading Diabetes Nurse Educator in the Philippines. When it comes to diabetes, Florido said nurses have to be holistic in their approach to make a difference in patients’ lives. In a recent survey conducted among diabetes nurse educators from PADE and the Association of Diabetes Nurse Educators of the Philip-

pines (ADNEP), it revealed the other important roles that nurses play in helping take care of patients with diabetes.

Educators

Since one of the best outcomes will come from the patient’s adherence to treatment and doctor’s advice, nurses are considered educators by providing education to people with diabetes, those at risk, as well as their family. Diabetes is a lifetime disease, and patients will tend to regularly and consistently follow prescribed treatment when they understand their condition. Because a by-product of education is advocacy, nurses also act as advocates who spread awareness about diabetes not just to the patients they care for and their families, but to different communities as well. This may include diabetes clubs in hospitals and clinics, companies, communities, and schools.

Collaborators

They are also deemed collaborators because managing diabetes is a collective effort from all stakeholders and it is crucial that nurses collaborate with the entire diabetes care team. This includes doctors, diabetes educators, nutritionist-dietitians, and other allied health care professionals. Nurses also serve as coordinators because as members of the diabetes care team, they also regularly coordinate with other stakeholders to promote positive health-seeking behavior, prevent the onset of diabetes, and delay complications of the disease. Finally, nurses are not just about caring for a patient but they also play a key role in passing on the skills to other members of the allied health care profession. This is a more specialized role for diabetes nurse educators who are part of the diabetes education training program. “Beyond providing care, as nurses in diabetes management, we also take an active role in the continuity of patient treatment,” said Florido. “As we become more prominent figures in the lives of people with diabetes, we can better help them keep their lifetime disease under control.”

igraine has a significant impact on employee productivity in the Philippines in terms of impaired work performance, high financial costs and lower quality of life. On average, annual productivity costs lost due to migraine disability were P27,794 per person and could go up to P41,280 for those with high disability. These were the key findings of a new study conducted by researchers from the Ateneo de Manila University and Wellbridge Health, Inc. with support from Novartis Healthcare Philippines. Results of the study were published on October 27, 2020 in The Journal of Headache and Pain. Migraine is a type of headache disorder characterized by recurrent attacks of moderate to severe head pain that is typically throbbing, often on one side of the head and associated with nausea, vomiting and sensitivity to light and sound. Around 12 million Filipinos suffer from migraine, according to the Global Burden of Disease Study 2016. Migraine often occurs during peak productive years, between the ages of 35 and 45 and often results in temporary disability during attacks.

Incapacitated by symptoms

Affected people can be incapacitated by the symptoms which can last for days. Migraine is estimated to cost up to €27 billion in Europe and around $20 billion in the US annually, including indirect costs such as lost productivity. Researchers conducted a survey among employees of 12 companies in the Philippines across various industries, such as telecommunications, holdings groups, business-process outsourcing, and finance. A total of 954 employees participated in the survey, which was conducted online and through physical booths at company clinics from February to May 2020. Fifty-four percent or 511 screened positive for migraine, with 193 (38 percent) reporting they were diagnosed by a licensed medical professional and the rest screening positive using the ID Migraine Test. Of those who screened positive with the ID Migraine Test, 270 (84.9 percent) reported experiencing nausea, 282 (88.7 percent) reported that migraine headaches limited their ability to do daily tasks, and 284 (89.3 percent) reported that light bothered them when they had migraine headaches. More than half (55 percent) reported experiencing moderate to

severe migraine headaches.

More women

Women comprised two-thirds (67 percent) of all positive migraine screens and were more likely to have high migraine disability. Those with high migraine disability scored lower on role limitations due to poor emotional and physical health compared to those with low migraine disability. Quality of life was significantly lower among those with high migraine disability than those with low migraine disability. Stress and looking at computer screens were cited as the top trigger for migraine, while sleeping enough hours and getting a massage were cited as top coping mechanisms. Three in four (77 percent) visited their company clinic within the past three months, which meant that most employees with migraine-related symptoms consulted general practitioners. Five in six (85 percent) took medication for migraine, almost all of which were over-thecounter (OTC) medications. Researchers noted that there are local companies that try to provide ample support for medical consultations through their employee benefits programs. “[However],

there are opportunities to implement other interventions such as prevention and wellness programs such as setting up dark rooms in offices, and providing educational materials and education tools to monitor migraine. Most medications taken for migraine remain OTC medicines for symptom relief, and further research is needed to gauge willingness of employers to pay for preventive medication for migraine.” “This study is important as it provides local data on the burden of migraine among Filipino workers, as well as highlights the need to implement workplace wellness programs and explore new preventive and treatment options for migraine,” said Dr. Rosalina E. Picar, president, Philippine Neurological Association. “A social media analysis done by Novartis found that the stress and anxiety induced by the Covid-19 pandemic have triggered migraine attacks in patients all over the world. We hope that the results of the study can help inform employers and health care professionals in crafting workplace disease prevention programs and enhancing migraine care, especially during these challenging times,” said Mr. Jugo Tsumura, president and managing director, Novartis Healthcare Philippines, Inc.

Insurer undeterred by pandemic, to keep saving lives By roderick l. Abad Contributor

RUE to its mission to protect and empower every Filipino family to enjoy healthier and longer lives, the Philam Group (AIA Philam Life and BPI-Philam combined) reported that it achieved 67 percent of its target of lives saved and 61 percent in terms of basic sum assured coverage amid the Covid-19 pandemic. This could be mainly attributed to its strengthened digital capabilities, initially with the Facebook chatbot, the enhanced digital selling, and fully operational Coffee Closing that allows complete digital selling within 20 minutes only. “We remain committed to fulfilling our Save Lives targets and will work towards its completion by the

end of the year,” AIA Philam Life Chief Executive Officer Kelvin Ang told reporters during their recent online media briefing. The year has shown continued customer patronage for AIA Philam Life’s protection products, with best-selling offerings AIA Critical Protect 100, AIA All-in-One, and AIA Med-Assist. According to AIA Philam Life Chief Marketing Officer Leonardo Tan Jr., their focus on these kinds of products, which account for almost half of the mix, has enabled the firm to achieve a more balanced portfolio. “Customers who now have ample coverage for medical emergencies, critical illness and untimely passing, would want to look for solutions for their long-term savings needs, which is why we are now launching new funds that will address this new demand.”

Elite Funds

Called the “Elite Funds,” which include Adventurous Fund, Balanced Fund, and Conservative Fund, this latest offering was introduced in the webinar by AIA Philam Life with the support of its affiliate AIA Investment Management Pte. Ltd. They are all sub-managed by leading global investment managers Baillie Gifford, Wellington Management, and Blackrock. “We invest alongside our customers using the same best in class fund managers and apply consistent standards of professional oversight, providing our customers with the reassurance and consistency they expect from AIA,” said Mark Konyn, chief investment officer (CIO) of AIA Group. “By giving them more investment options, we are empowering them to achieve their long-term savings

objective, thus bringing to life our brand purpose of helping Filipinos live Healthier, Longer and Better Lives,” AIA Philam Life CIO Arleen Guevara added. The Philam Group comprises of the biggest life insurance company in the Philippines. Its affiliate AIA Philam Life has remained financially strong and stable despite the local economic challenges. In fact, its annualized new premiums continued to improve in the third quarter of 2020, with a strong “double-digit” growth as compared to the second quarter of this year. “We remain confident of the opportunities ahead, with the low insurance penetration rate, and our strategy coupled with an increased awareness of health risks and the value of protection following the pandemic,” AIA Philam Life Chief Financial Officer Gary Ogilvie said.

Sports

Superal in harness for 2nd LPGT drive

BusinessMirror

| Thursday, December 3, 2020

mirror_sports@yahoo.com.ph Editor: Jun Lomibao

PBA TARGETING APRIL START FOR SEASON 46 T

By Josef Ramos

HE Philippine Basketball Association (PBA) eyes an April 2021 start for its Season 46—either in the same bubble setup or back to the normal three-conference format depending upon the Covid-19 situation prevailing in the country at that time. PBA Commissioner Willie Marcial said he is hoping for the best especially on the availability of a vaccine against the virus and the country’s economic health. But one thing for sure, Marcial said the league will play next year. “We still don’t know yet that’s why we set the opening of Season 46

for April because of several factors like, No. 1 the economy, No. 2 what kind of bubble will we use—like the closed circuit setup—No. 3 the venue and No. 4 if there’s a vaccine already,” Marcial told BusinessMirror on Wednesday. The league’s board of governors, according to Marcial, will hold an online meeting on Thursday starting at 3 p.m. to discuss the mechanics of next season, the 3x3 tournament and the rookie draft in March. Marcial said that allowing fans in the game would still depend on health protocols. “It is still depend on the situation and to the government [if the crowd will be allowed by that time],” said Marcial, adding the league is satisfied with how the Philippine

WILLIE MARCIAL: For sure, there will be a 46th season next year.

Kouame naturalization still hangs

HE Samahang Basketbol ng Pilipinas (SBP) hopes Congress would act swiftly on the naturalization Kakou Ange Franck Williams Kouame so he would be available when the men’s national basketball team vies in the third window of the International Basketball Federation (FIBA) Asian Qualifiers 2021 in February. Antipolo City First District Rep. Roberto “Robbie” Puno said the House Justice Committee has already approved the 6-foot-10 Ivorian’s naturalization in the first reading. “That’s what we’re trying to do, hopefully

make him [Kouame] available in the FIBA Asian qualifiers by the February third window. But the question is can we do it? So we will try,” Puno told BusinessMirror on Wednesday. “We’ll be back by mid-January so we still have one month. Maybe we can still make it.” Puno said that House Bill No. 5951 on the naturalization of Kouame still needs to undergo a second and third reading in the plenary to secure the full approval of Congress, Sen. Sonny Angara is doing his share through his No. 1892 which he filed last October 25.

Angara is the currently the SBP chairman while Puno is the vice chairman. If both chambers of Congress approves Kouame’s naturalization, the bills would only need President Rodrigo Duterte’s signature for him to join Gilas Pilipinas. The 23-year-old Kouame was the University Athletic Association of the Philippines top rookie in 2018. He averaged of 12.5 points, 14 rebounds and 5.5 blocks last season when he helped the Ateneo Blue Eagles to their third straight men’s basketball crown in the league. Josef Ramos

Cup, the only conference staged for Season 45 has turned out. Game Three of the Philippine Cup Finals Barangay Ginebra San Miguel and TNT Tropang Giga was played on Wednesday night at the Angeles University Foundation. “I am very happy because ever since in March, we were just hoping that our fellow Filipinos could watch PBA games—and now it’s happening. We are now near to end the season,” he said. The PBA has 11 days left to end Season 45 inside the Clark bubble. Marcial, meanwhile, praised the all-cadet Gilas Pilipinas team that beat Thailand twice in the International Basketball Federation Asian Qualifiers second window recently in a bubble setup at the Khalifa Sports City in Manama, Bahrain.

PRINCESS SUPERAL says the key to victory is preparation.

Basketball in a mask? Rare but not unheard of during pandemic

T is not unusual to see players and coaches wearing masks on the sideline as the college basketball season gets going. The DePaul and Creighton women’s teams have taken it a step further: Their players are wearing masks while they are on the court competing. “The first week I complained every day, but now it’s normal as we wear them every day in practice,” said Deja Church, a senior guard for DePaul. “It’s kind of normal now. I don’t like it, but whatever keeps us and the coaches and everyone safe is what matters most.” The NCAA does not require masks on the court, though it recommends them on the bench along with social distancing guidance for its member schools and other steps to prevent the spread of Covid-19. But masks are still very uncommon in organized basketball and that is unlikely to change. DePaul Coach Doug Bruno said he took the advice of the school’s medical staff. His 20th-ranked team has worn masks in every practice since August 7 and played its first two games wearing them. Creighton Coach Jim Flanery said he left it up to his players to decide whether they wanted to wear masks in games. A majority of them are wearing them. “Our contact tracer has t old us it will be impactful in terms of contact tracing and determining whether we’d have to pause if someone on the other team tests positive,” Flanery said. “We gave [the players] the information and let them make the decision.” Flanery said that he isn’t sure how long his players will wear masks this season, but “if it gives us a greater opportunity to have everyone available or more people available if we’re exposed, it’s worth it.” But does it making breathing more difficult? Experts say no. “It’s doing very little, if anything, to your physiology,” said Susan Hopkins, a professor of medicine and radiology at the University of California San Diego School of Medicine. “All of the evidence we’ve been able to assemble is that it’s your perception of breathing that it affects. Some people may find that distressing,” said Hopkins, who specializes in exercise physiology and the study of lungs under stress. “After three months practicing in it, most athletes should be used to it.” Some schools have worn masks during warmups and found them to be uncomfortable. “When we first got here, we tried the mask thing and good lord, it felt like we were in Denver [at high altitude],” Michigan men’s basketball senior forward Isaiah Livers said

after scoring 22 points in an 81-71 win over Oakland on Sunday. Flanery did point out that masks have made communication harder for players among themselves on the court and with coaches. “With the testing that we’re doing here, with what we’re doing at home where we get tested three times a week.... No, I’m not a big advocate of wearing a mask for the games,” said Dawn Staley, coach of No. 1 South Carolina “We haven’t talked about it [wearing a mask while playing],” Gonzaga senior Jill Townsend added. “I don’t think as a team we feel the need to wear a mask out there, that we’re at risk.” The Blue Demons and Bluejays are in the minority now as far as wearing masks during games, but that could change depending on the pandemic. Some schools didn’t even know it was an option. “I didn’t even really know we could play with masks on,” N.C. State sophomore Jakia Brown-Turner said. She said she asked an assistant coach about it. “I think it’s kind of a good idea if cases keep on rising,” she said. AP

Saguiguit Altas head coach

Creighton guard Rachael Saunders plays during their women’s NCAA game against Drake in Omaha, Nebraska, on Wednesday. AP

Parkour group urges IOC to reject sport from Games

AUSANNE, Switzerland—Organizers of the sport of parkour urged the International Olympic Committee (IOC) on Tuesday to reject adding the obstacle course-style street-running event to the 2024 Paris Olympics because of a dispute with the governing body of gymnastics. The Parkour Earth group has for years opposed what it calls a “hostile takeover” of the sport by the International Gymnastics Federation, known as FIG. “Unfortunately, FIG’s encroachment and misappropriation of our sport continues,” Parkour

RINCESS SUPERAL is making it simple facing the difficult challenges in golf’s return in new normal, rewarding herself with a runaway five-stroke victory in the recent International Container Terminal Services Inc. (ICTSI) Riviera Invitational Challenge, the first of two Ladies Philippine Golf Tour events slated after an eight-month hiatus due to pandemic. “I think the key [to every victory] is preparation,” said Superal, who shuttles to and from Orchard and Manila Southwoods to sharpen her skills and stay in competitive form. Heading to next week’s ICTSI Riviera Championship, the 22-year-old reigning Order of Merit champion is taking the same approach—train hard, stay confident and have a positive mindset. “During this pandemic, I’m able to refresh my mind and set new goals,” she said. But she expects the rest to do the same or even prepare harder in their attempt to stop her from essaying a sweep of the bubble tournaments at the challenging Langer layout. Abby Arevalo, who marked her pro debut with a runner-up finish at the Couples course, is toughening up for the 54-hole championship, also at Southwoods, with the likes of Pauline del Rosario, Chanelle Avaricio, Chihiro Ikeda, Marvi Monsalve, Cyna Rodriguez and Gretchen Villacencio likewise working double-time to reach competitive level by December 8. To make things simpler under strict Covid-19 protocols and new guidelines, Superal said she is toning down expectations but stressed the need for a strong start for the proverbial momentum. “It’s really tough having to go through the process but we feel very safe with the health protocols,” she said. “While I feel upbeat, I don’t want to expect much although a good start would surely boost my confidence.” Playing without the help of a caddie also makes each bidder’s campaign a lot tougher but the petite, talented shotmaker said she and the rest are getting through with the challenges and thankful for the opportunity to compete again. “It’s hard doing it all from the tee to the green by yourself but we’re coping up and we’re happy to be able to play again,” she said. “We’re really thankful to the ICTSI and the Pilipinas Golf Tournaments, Inc. for scheduling two tournaments to end this pandemic-hit season. These also serve as our warm-up tournaments for next year.”

Earth wrote Tuesday in an open letter to the IOC. The IOC executive board will meet on Monday and on the agenda is finalizing the sports program for the Paris Games. Requests to add new medal events or modify existing ones are expected from governing bodies. FIG, which will have 18 medal events at next year’s Tokyo Olympics, is expected to ask again for parkour’s inclusion. Paris is where parkour was developed in the 1990s. Parkour’s spectacular tricks in an urban setting has clear appeal at a time when the Olympics is targeting a younger audience.

ike Saguiguit was officially appointed as head coach of the University of Perpetual Help System Dalta men’s basketball program recently. Anton Tamayo, the school board’s liaison officer in charge of the athletic program, announced Saguiguit’s new responsibility which covers both the high school and college basketball programs. He took over from Frankie Lim, who resigned several months ago. “He’s now the coach starting December 1,” said Tamayo of Saguiguit who played for the Altas for several years. Saguiguit had been handling both squads on an interim basis since Lim left last September and should have the full coaching rein in leading the Altas back into Final Four conversation after missing the cut a season ago. He, however, relinquished the high-school team to Joph Cleofas, who is one of his assistants. “He will be the new high-school coach but I will still look after them as we only have one program,” the 46-year-old Saguiguit said. Besides 6-foot-7 sophomore Mario Baras, Jr., Saguiguit said they retained the core of the team from last season headed by skipper Jielo Razon, Ben Adamos and Tonton Peralta. Skateboarding, 3-on-3 basketball and sport climbing will make their debuts in Tokyo, though the IOC declined FIG’s proposal of parkour. Breakdancing will be an Olympic sport in Paris in 2024. What counts against parkour for the Paris Games is the IOC’s policy of adding medal events that involve only the existing pool of athletes. The IOC does not want to increase the overall quota of 10,500 athletes competing in 2024, and parkour competitors are separate from FIG’s Olympic disciplines of artistic and rhythmic gymnastics, and trampoline. AP