BusinessMirror December 09, 2021 by BusinessMirror

Foreign funds for Covid response now P1.17T

‘SEA OF HUMANITY’ Tens of thousands of people jammed major thoroughfares in Quezon City on Wednesday after the Bongbong-Sara UniTeam’s convoy swept through the streets, in what organizers billed as a “show of force” in Metro Manila by the tandem. Story on page A12. CONTRIBUTED PHOTO

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HE government has so far secured a total of $23.4 billion (P1.17 trillion) in financing from foreign lenders for the government’s Covid-19 response, Finance Secretary Carlos G. Dominguez III said. Of the total Covid-19-related external financing contracted by the government from March 16 2020 until December 7 this year, Dominguez said $21 billion was contracted for general budget support to cover up the drop in the state revenue collections while $2.4 billion was for Covid-19 response and recovery projects, including vaccine procurement. “Out of the $21-billion budget

support fi nancing contracted by the government, a total of $19.8 billion has been disbursed to the government since March of last year to help bridge the budget gap,” he said in a forum on Wednesday. Meanwhile, half or $1.2 billion of the total $2.4-billion grant and loan financing contracted in support of various Covid-19 related projects has also been disbursed to the government. “These projects include the procurement of laboratory equipment, medical supplies, and vaccines, as well as interventions that will address the impact of the pandemic on rural communities. These are

being implemented by the relevant agencies involved in our pandemic response,” he said. In the same forum, Dominguez said the country’s fiscal position “remains solid” and the economy is poised for a strong and early recovery as soon as it reopens along with the implementation of the massive vaccination program. “From January to October 2021, our total revenue collection has been exactly as projected. Revenues reached P2.5 trillion, 5 percent higher than last year’s level. This is equivalent to 86 percent of the P2.9 trillion revised revenue program for the year,” he said. Meanwhile, total expenditures

for the same 10-month period reached P3.7 trillion, exceeding the previous year’s level by 12 percent. It is also equivalent to 78 percent of the P4.7-trillion program for the year. The budget deficit as of end-October widened by 27.94 percent to P1.2 trillion from P940.6 billion a year ago. The economic team expects this year’s budget deficit to reach P1.8 trillion or equivalent to 9.5 percent of GDP. “Nevertheless, the budget deficit as a percentage of GDP is projected to decline starting next year S “F,” A

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Thursday, December 9, 2021 Vol. 17 No. 62

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P.  |     | 7 DAYS A WEEK

NG TO REPAY BSP P540-B ADVANCES, SEEKS P300B ■

Fully-vaxxed frontline workers now total 13M

B B D. N

@BNicolasBM

HE national government is set to fully repay this week its outstanding P540billion provisional advances from Bangko Sentral ng Pilipinas (BSP). It is also set to request a lower liquidity support of P300 billion by the second week of January 2022.

DOMINGUEZ: “We have seen economic recovery already begin to take root as more businesses embark on a safe reopening with the successful rollout of the government’s mass vaccination program.”

Finance Secretary Carlos G. Dominguez III informed the Monetary Board that the government’s plan to seek a lower amount as provisional advance in January 2022 signals to the market “that we are on track with the unwinding of liquidity support on firmer evidence of return to economic strength.” In a letter addressed to BSP Governor Benjamin Diokno, Dominguez said, “The extension of a new P300-billion provisional advances will ensure sufficient resources for the government to safeguard this promising but still fragile recovery.” The new P300-billion provisional advances to be requested in January will have similar terms as the earlier loan: (i) zero interest, and (ii) three-month maturity with another three-month extension, as recommended by National C  A

PESO EXCHANGE RATES

B S P. M @sam_medenilla

SOME 180 families on Onyx Street in San Andres Bukid, Manila, will spend Christmas homeless this year after an hours-long fire gutted the residential area late Tuesday afternoon. Residents are trying to salvage what they can from the ruins. NONIE REYES

SEC READY TO EXPAND SUSTAINABILITY REPORTING B VG C @villygc

HE Securities and Exchange Commission said it is open to expand the scope or focus on biodiversity in its sustainability reporting guidelines that it required to the publicly listed companies. “Please be informed that we are studying this and we are open to recommendations,” the SEC’s Corporate Governance and Finance Department said. The European Financial Reporting Advisory Group (EFRAG) and Global Reporting Initiative earlier joined forces on the technical work for their respective new biodiversity standards. EFRAG is to make the draft Eu-

ropean Union standard available to the European Commission in midJune next year, while GRI’s aims to release an updated GRI Biodiversity Standard in the second half of 2022. The Philippines mainly uses the GRI guidelines on how to craft the sustainability reports. Co-construction means EFRAG and GRI join each other’s technical expert groups, share information, align work plans and adjust timelines as much as possible. The joint work will incorporate the latest developments and authoritative intergovernmental instruments in the field of biodiversity, will enable consideration of double materiality perspectives, and ensure multi-stakeholder consensus.

“Co-constructing our new biodiversity standard with EFRAG marks a significant next step in our collaboration. Aligning global and European sustainability reporting will result in more effective, comprehensive and comparable biodiversity reporting,” Judy Kuszewski, chair of the Global Sustainability Standards Board, which has responsibility for setting the GRI Standards, said. She said one of the key takeaways from COP 26, or the United Nations Climate Change Conference, was that climate change and biodiversity loss are intrinsically linked. “Holding organizations accountable for their impacts is crucial to break the chain of events on both, for which transparency

forms the basis. Not only will highquality disclosures lead to better decisions by the companies, it also will inform decisions from providers of capital, labor, and governments. That is why the review of GRI 304: Biodiversity 2016 is so important to us,” she said. “Our aim is to create the highest possible level of alignment between the European Sustainability Reporting Standards and the GRI Standards. Such alignment will also help address a second requirement from the Commission, which was to minimize the additional reporting pressure on organizations,” Patrick de Cambourg, chair of the EFRAG Project Task Force leading the technical work to develop EU sustainability reporting standards, said.

TOTAL of 13 million frontline and essential workers are now fully inoculated against Covid-19 after the threeday National Vaccination Days (NVD) last week, according to the Department of Labor and Employment (DOLE). In a radio interview last Wednesday, Labor Assistant Secretary Dominique R. Tutay said NVD, which was held from November 29, 2021 to December 1, 2021, greatly boosted the number of vaccinated individuals under the A4 category. The A4 category includes frontline personnel in essential sectors, including uniformed personnel. Prior to the NVD, Tutay said only 10 million A4 workers were inoculated against Covid-19 since the government started its inoculation drive last March. As of December 6, 2021, the National Vaccination Operation Center (NVOC) reported there were already 13.9 million fully vaccinated A4 workers. Tutay noted they hope to replicate the success of the initial NVDs during its second round, slated from December 15 to 17, 2021. The labor official said they will meet with the NVOC and employers on Thursday to determine how many additional A4 workers they will target in the second NVDs. The Department of Health (DOH) earliest said the government will aim to administer 7 million Covid-19 jabs during the second round of NVDs. Tutay said the increase in the number of vaccinated workers will allow the government to further ease quarantine restrictions and enable more businesses to operate with greater capacity.

LABOR Assistant Secretary Dominique R. Tutay

■ US 50.3700 ■ JAPAN 0.4440 ■ UK 66.8259 ■ HK 6.4577 ■ SINGAPORE 36.8013 ■ AUSTRALIA 35.5058 ■ SAUDI ARABIA 13.4273 ■ EU 56.8577 ■ CHINA 7.8997

Source: BSP (December 7, 2021)

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Thursday, December 9, 2021

Foreign...

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as revenue starts to recover and grow at a faster rate than expenditures. This puts less pressure on our borrowing requirements and debt sustainability threshold,” he said. The national government’s outstanding debt as of end-October this year has reached a new recordhigh of P11.97 trillion. While National Treasurer Rosalia V. de Leon earlier said they expect upcoming repayments to bring down the debt stock, the latest figure is still beyond the government’s expected level of P11.73 trillion by the end of this year. The current debt stock level is also 19.38 percent higher than P10.028 trillion a year ago. Based on the budget documents, the government expects outstanding debt to hit P13.42 trillion in 2022. The country’s debt-to-GDP ratio this year is projected to rise to 59.1 percent and peak next year at 60.8 percent—slightly above the internationally accepted threshold—before gradually tapering off to 60.7 percent and 59.7 percent in 2023 and 2024. As of the end of the third quarter this year, the country’s debt-toGDP ratio is already at 63.1 percent. The Department of Finance also sees the national government returning to its pre-pandemic debt and budget deficit levels as early as 2024 or by 2025, if the recommended fiscal measures are passed early by the next administration, and if the economy quickly recovers. Bernadette D. Nicolas

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Democracy Summit: ‘Learning’ for Duterte or just a distraction?

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LEARNING experience or a means to distract the international community from alleged state-led human rights violation. This was how labor groups viewed President Duterte’s participation in the Democracy Summit hosted by the United States government on December 9 and 10, 2021. In a virtual forum on Wednesday, Public Services Labor Independent Confederation (PSLINK) general secretary Annie E. Geron said she hopes the event will allow other countries to “teach” Duterte on how to implement “democracy.” “It is no secret to them what kind of leadership Duterte has and what the situation is being faced by Filipino. So I hope they will be able to teach him,” Geron said. The US government invited 110 countries, including the Philippines, to participate in the event. Nagkaisa labor coalition chair and Federation of Free Workers (FFW) president Sonny Matula adopted an optimistic view on the effect of the summit on Duterte. “He still has some remaining

months left before the 2022 elections. We hope he will ensure the 2022 polls will not be ‘bastardized’ and he will leave a clean democratic exercise,” Matula said.

Smokescreen

KILUSANG Mayo Uno (KMU) chair Elmer Labog sees Duterte’s participation in the Democracy Summit serves as a “smokescreen” to hide the supposed prevalence of human rights violations committed by the government. “If there is really democracy in the Philippines, they should stop the implementation of the antiterrorism law and the harassment of the NTF-ELCAC [National Task Force to End Local Communist Armed Conflict] to legitimate expression of dissent in the country,” Labog said. Sentro ng Nagkakaisa at Progresibong Manggagawa (Sentro) deputy secretary general Nice Coronacion echoed Labog’s senti-

PRESIDENT Duterte

ment on how Duterte is allegedly using the summit as a pretense that his administration still respects democratic processes. “In fact,” Coronacion said, they are holding a press conference and will hold a global day for action “because of the worsening red tagging and trade union killing.” “If there is anything participants [of summit] will learn from him, it is how not to become democratic,” she added.

Global action

PSLINK, FFW, KMU, Sentro and other members of the Council of Global Unions-Philippines (CGU) are set to conduct a Global Day of Action on Friday in Quezon City to condemn the alleged trade union killings and red-tagging in the country.

CGU noted that since 2019, it was able to document 7 killings of trade unionists, 16 cases of arrests and detention, 12 cases of forced disaffiliation and other state interference with the right to selforganization through threats, harassment and intimidation and 17 cases of red-tagging/terrorist-tagging/intimidation/harassment. The Department of Labor and Employment (DOLE) earlier said some of the cases are undergoing verification and being investigated by concerned authorities. CGU expressed dismay over the pace of the probe and demanded a more definite timeline on the resolution of the labor-related cases. It also wants stronger tripartite monitoring of such labor-related abuses as well as the abolition of the NTF-ELCAC.

Comelec’s party-list raffle has 166 groups

HERE are now 166 party-list groups which will participate in the raffle to be conducted by the Commission on Elections this week to determine their positions in the 2022 poll ballot. In its Resolution 10735-S, the Comelec en banc declared Walang Iwanan sa Free Internet Inc. (WIFI) qualified to participate in the event to be held at 10 am on Friday, December 10. Despite its inclusion in the raffle, WIFI could still be removed by Comelec from the ballot if its pending incident under Section 1 (B) of Resolution 10733, will result in the cancellation of its accreditation. WIFI will join the 13 other partylist groups with pending incidents and 152 registered party-lists in the said raffle. The other 107 party-list groups were barred from joining the raffle after their petitions for registration were denied by the poll body. In the same issuance, Comelec also clarified that the Abante Midwife, appearing in page 13 under Section 2 of Resolution 10735, refers to Abante Midwife Party-list. To note, under Resolution 10735, Abante Midwife Party-list wrongfully referred to Educators in the Service of the Country. Comelec Resolution 10735-S will take effect after its publication in two newspapers of general circulation and in the official web site of Comelec. Samuel P. Medenilla

PHL adds France to its red list B M T-B @maloutalosig

RAVELERS from France are barred from entering the Philippines starting Monday (December 13) 12:01am until December 15 to curb the spread of Covid-19, Malacañang announced Wednesday. France was included in the Red List, or those countries with high cases of Covid-19, effective Friday (December 10). It appears that the Inter-Agency Task Force Against Emerging Infectious Diseases (IATF) has become more cognizant of passengers who are already enroute to the Philippines or who simply have no means to rebook their flights to be able to adjust to the new travel restrictions. Passengers, regardless of vaccination status, who have stayed

in France for 14 days and arrived between December 10 12:01am until December 12 12:01am will be required to quarantine at a hotel or other government-accredited facility for two weeks and undergo RTPCR test on the seventh day upon arrival. “Notwithstanding a negative RT-PCR result, the completion of the 14-day quarantine is required,” presidential spokesman Karlo Nograles said. Starting Monday (December 13), the full travel ban for all travelers from France who have stayed there for 14 days or more starts. “Beginning 12:01A.M. of December 13, 2021 until the end of December 15, 2021, entry in any port of the Philippines shall not be allowed for passengers coming from or who have been to France within the last 14 days prior to arrival in the Philippines, regardless

of vaccination status,” Nograles said. Only Filipinos returning to the country under the governmentinitiated or nongovernment-initiated repatriation, and Bayanihan flights shall be allowed entry. But they need to undergo 14-day quarantine in a designated facility. All passengers—including Filipino seafarers—who were merely transiting through France and stayed in the airport the whole time during the layover will also be exempted from the travel ban. France has registered an average of 44,727 cases per day in the last week—making December 2021 the highest in average cases in the country since the start of the pandemic. Cases have increased by 99 percent from the average two weeks ago. Deaths have also increased by 103 percent.

NG TO REPAY BSP P540-B ADVANCES, SEEKS P300B C  A

Treasurer Rosalia V. de Leon. De Leon also recommended that the P300-billion advances be fully repaid before the end of June 2022 to fully unwind the liquidity support before the start of the next administration. De Leon was also the one who recommended the early repayment of the P540-billion provisional advances, which will be settled on December 10, on the basis of a favorable cash position brought about by promising revenue collections and overwhelming support in the recent Retail Treasury Bond offering. The P540-billion outstanding provisional advances were supposed to mature on January 12, 2022. “We have seen economic recovery already begin to take root as more businesses embark on a safe reopening with the successful rollout of the government’s mass vaccination program,” Dominguez said.

The extension of provisional advances, which is a temporary arrangement between the BSP and the national government, was meant to provide the government access to cash resources at a time that revenue generation was weak and the fulfillment of the borrowing program was challenged by the scale of the borrowing need and the unpredictability of financial markets amid the Covid-19 pandemic. Funds granted under this shortterm lending arrangement are not used for direct financing of government operations but serve as a liquidity gap measure that ensures the government can undertake large spending in advance of anticipated revenue collections or regular borrowing proceeds. Under Section 89 of The New Central Bank Act (Republic Act 7653), the BSP may make direct provisional advances with or without interest to the national government to finance expenditures

authorized in its annual appropriation, on condition that said advances shall be repaid before the end of three months, extendible by another three months as the Monetary Board may allow following the date the national government received such provisional advances. Initially, the advances were in the form of a zero-interest repurchase agreement (repo) transaction in the amount of P300 billion, granted in March 2020 and fully repaid in September 2020. The provisional advances were then converted to a zero-interest 3-month loan in the amount of P540 billion, granted in October 2020 and fully repaid in December 2020. These were again accessed in January 2021, extended in April 2021, and fully repaid in July 2021. The latest access of provisional advances was in July 2021, which was due in October 2021 and extended to January 2022, but will be fully repaid this December 2021.

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Victory for SEC after conviction of X-CEE789 lending founders By VG Cabuag

@Villygc

HE Securities and Exchange Commission claimed victory against illegal lending after a regional trial court convicted the incorporators and directors of X-CEE789 Lending and Trading Inc. for submitting falsified documents for its registration as a lending company. In a decision dated June 30, the Pasay City Regional Trial Court Branch 118 found the incorporators and directors of the lending firm and fined each of them at least P10,000. Found guilty were Merlinda A. Derequito, Mila R. Anonuevo, Haydee S. Alarcon, Maria Collen A. Custodio, Marisa D. Abaquin, Ramona C. Belen, Pinder Kaur Bhopal, Parvesh Kumar, Karan Kumar, Surinder Bhopal, Kamaljit Kaur and Jaswinder Kaur. The SEC filed the criminal complaint against the respondents upon finding that they made a false statement in their application for the incorporation of X-CEE789 and issuance of its authority to operate, as mandated by the law. X-CEE789 submitted a Certificate of Bank Deposit of P1 million, which it said was issued by Banco de Oro-Two Shopping Center Branch in Pasay City, to comply with the minimum paid-up capital prescribed during its registration as a lending company with the SEC in 2017. Upon verifying with the bank, however, the SEC found that no such certificate was issued to X-CEE789. The agency subsequently denied the company’s application for registration as a lending company. “For knowingly and willingly making a false statement in their Articles of Incorporation and submitting a falsified Certificate of

Bank Deposit that the law requires lending companies to file, the accused have clearly violated Section 12[3][a] of RA 9474 [or the Lending Company Regulation Act of 2007],” the court said. Luis Lopez, who was the former liaison officer of X-CEE789, said that it was his godfather Salvador Dapadap who told him to secure a Certificate of Bank Deposit from a certain Sarah Jane Ibasco for the company’s application. Lopez would then pay Ibasco, who supposedly arranged documents for filing with the SEC, P5,000 in exchange for the bank certificate. Surinder Bhopal, Haydee Alarcon, and Karan Kumar admitted to signing the Articles of Incorporation of X-CEE789, stating that the company had a paid-up capital of P1 million. Kumar also noted that it was their agreement to pay their capital contribution to their friend, Parvesh Kumar, only after the company was registered with the SEC. “Per their own admission, the accused never made any capital contribution at all…they said that they held on to their money because they believe that they will only give their contribution after the corporation has been registered and started operating as a lending company,” the court noted. “This is a willful violation of the law for which the accused cannot be excused.” The conviction of the incorporators and directors of X-CEE789 represents the eighth conviction the SEC has won under a crackdown initiated in 2017 on illegal lenders, including those engaged in “5-6” schemes and other usurious practices. In the eight cases decided so far, the concerned trial courts found 71 individuals, 33 of whom are foreigners, guilty.

New EO imposes cap on retail, wholesale prices of vital drugs By Samuel P. Medenilla @sam_medenilla

N a bid to grant access to lifesaving medicine to more people, President Duterte signed Executive Order 155 on Tuesday imposing a cap on the wholesale and retail prices for selected drugs. In a news statement, Acting Presidential spokesman Karlo B. Nograles said the issuance would help reduce health-related expenses of many people in line with the Universal Health Care Act. The new issuance imposed a Maximum Retail Price (MRP) and/or Maximum Wholesale Price (MW) on 34 drug molecules and 71 drug formulas used in agents affecting bone metabolism, analgesics, anesthetics, anti-angina, antiarrhythmics, anti-

ment to the media confirming the hospital’s zero-Covid patient census for the first time in 20 months since March 2020. At present, Makati is under low-risk classification with 31 active cases, zero death, and one recovery, according to the latest report of the Makati Health Department (MHD). Mayor Abby said the MHD attributed the low number of active cases to the city’s high vaccination rate, availability of rapid antigen and RT-PCR tests, surveillance and early isolation or quarantine of suspected Covid-19 patients, and strict implementation of minimum public health standards. The mayor, however, reminded the public not to be complacent. She cited the looming threat of the

asthma and chronic obstructive pulmonary disease medicines, antibiotics, anticoagulants, anticonvulsants, antidiabetic drugs, antidiuretics, and antiemetics. It will also cover anti-glaucoma, anti-hypercholesterolemia medicines, antihypertensive medicines, anti-neoplastic/anti-cancer medicines, anti-Parkinsons drugs, drugs for overactive bladders, growth hormone inhibitors, immunosuppressant drugs, iron chelating agents, and psoriasis, seborrhea and ichthyosis medicines. Drug manufacturers, importers, distributors, wholesalers, traders, and retailers are mandated to comply with the MRP and MW, including the necessary labeling for its implementation, or face sanctions. Violators of the provisions of EO

155 will be held accountable in accordance with the provisions of Republic Act 9502 or the Universally Accessible Cheaper and Quality Medicines Act of 2008, which includes administrative fines of not less than P50,000, but not more than P5,000,000.

90-day timeline

AFFECTED companies were given a “non-extendable period of 90-days” from the effectiveness to dispose of their existing stocks using prevailing prices. “Thereafter, regardless of the status of the existing stock, the MRP and/or MWP under this Order shall be strictly implemented,” Duterte said. The Department of Health (DOH) was instructed to conduct the investigation against the erring companies and impose administrative fines

and penalties. The new issuance is set to take effect once it is published in the Official Gazette or in a newspaper of general circulation. DOH was also tasked to consult the Department of Trade and Industry (DTI) to review the list of MRP and MWs six months after EO 155 took effect, and every six months thereafter. Both DOH and DTI together with the Philippine Competition Commission (PCC) will also “study and propose measures” on the procurement, price negotiation and other mechanisms, which will influence the supply, demand, expenditure on drugs and medicines. Likewise, DOH was authorized to come out with the implementing guidelines for EO 155.

Philippine Bar Association offers legal assistance to journalists in Cusi libel suit By Joel R. San Juan @jrsanjuan1573

HE Philippine Bar Association (PBA) has offered legal assistance to media outfits and journalists recently sued by Department of Energy (DOE) Secretary Alfonso G. Cusi for libel and cyberlibel for reporting about the filing of graft charges against him before the Office of the Ombudsman over the sale of Malampaya shares to Davao businessman Dennis Uy. In a news statement, the PBA also expressed concern that Cusi’s move would send “chilling effect” to other journalists considering the P200 million in damages be-

Two Makati hospitals–OsMak and MMC–log zero Covid cases since last month, mayor says AKATI Mayor Abby Binay today said both Ospital ng Makati (OsMak) and Makati Medical Center (MMC) have recorded zero Covid patients to date. The mayor said the city-run OsMak has not recorded any new Covid-19 case since November 24. “Earlier this month, we had 54 patients with Covid-like symptoms at OsMak. Fortunately, they all tested negative after undergoing RT-PCR tests. Therefore, we have zero Covid cases at OsMak,” she stated. Mayor Abby said a 75-year-old man was the last person so far to be admitted at OsMak last November 24 due to a critical Covid-19 infection. He died last December 3. Earlier, MMC medical director Dr. Saturnino Javier issued a state-

Editor: Vittorio V. Vitug • Thursday, December 9, 2021 A3

Omicron variant, which has been detected in some neighboring countries, including Hong Kong. “Even if we are now under the low-risk classification, we should remain vigilant. It may only be a matter of time before the Omicron variant makes its way to our country. We must continue to strictly observe public health standards like wearing face masks and keeping a 1-meter distance from another person,” she said. To date, Makati has vaccinated 439,185 individuals or more than 70 percent (437,192) of Makati’s population (624,560). The city continues to speed up the Bakuna Makati drive in partnership with the private sector to further decrease the number of active cases. Claudeth Mocon-Ciriaco

ing sought by him from the news organizations. Cusi filed the complaints against 18 officials and reporters of Manila Bulletin, ABS-CBN News, BusinessWorld, Rappler, Philippine Star, GMA News, and the BusinessMirror last December 3 before the Taguig City Prosecutor’s Office. “We all are well aware that criminal prosecutions are stressful and financially-draining challenges. They are time-consuming and for those without ready access to competent legal counsel, can become debilitating experiences,” PBA President Rico V. Domingo. “The sheer scope and breadth of the targeted journalists, not to mention the amount being

asked from each [P200,000,000] leave little doubt that this slew of suits will introduce a ‘chilling effect,’” he pointed out. The PBA said its lawyers believe in the importance of press freedom, thus, it cannot just stand idle and allow the law on libel be used to curtail such rights. “A free press kept the light of freedom lit even during the darkest days of martial law. They have fought for the public’s right to know on countless occasions. The Rule of Law, upon which every lawyer pays fealty to, is kept strong by the light that a free press illuminates. When the Fourth Estate is under siege, those of us who believe in these freedoms must offer what we

can to aid them,” the group stressed. He said the PBA, the country’s oldest organization of volunteer lawyers established in 1891, is composed of “some of the most distinguished lawyers and law firms in the country.” Domingo advised journalists needing legal representation to contact the PBA through telephone 88152485 or through e-mail pbalegalassistance@gmail.com. “We ask our journalists to keep writing facts. But their ability to do so remains only insofar that they themselves are Free—free from fear, fear from harassment. If we want them to remain ‘free,’ then we must do our part to keep them that way,” the PBA said.

PNP chief orders review of rules for policemen in live fire training after LU ‘accidental firing’

ATIONAL Police Chief Gen. Dionardo Carlos ordered on Wednesday a thorough internal investigation into the alleged “accidental firing” inside a police training school in La Union that wounded a police instructor and his trainee. At the same time, the Philippine National Police (PNP) chief sought for a review of policy on weapons training to avoid similar incidents in police training courses involving live fire exercises. “If accidents like this can happen in training even under controlled conditions, it is likely to happen anytime during the course of normal police functions involving firearms and live ammunition,” he said. Carlos, himself a qualified firearms instructor and weapons spe-

cialist reminded policemen, “The firearm is standard police equipment that must be handled only by properly trained personnel with updated training certification on firearms proficiency and safety.” Based on initial reports reaching the PNP Command Center in Camp Crame, the incident happened at 3:30 p.m. on Tuesday inside the Andres Bonifacio Room of Regional Training Center-1 at Barangay Poblacion in Aringay, La Union while Police Corporal Benie Dupayat, 32, was holding a lecture on Basic Parts of Firearms and Gun Safety Rules to police trainees of Bravo Company of “Mahigmayan” Class undergoing Public Safety Basic Recruit Course. According to the investigation report of the Aringay Municipal

Police Station, Dupayat was demonstrating to police trainees the operating functions of a .45 caliber pistol when the demonstration gun malfunctioned and discharged a round that went through the palm of Dupayat’s hand and hit a trainee, Patrolman John Conrad Villanueva, 23, in the thigh. Both injured personnel were brought to the Caba District Hospital for medical treatment. “We remind our instructors to ensure safety at all times, in this case, foremost, no loaded firearms and live ammunition inside the classroom even for training purposes,” Carlos said. “Safety is paramount in weapons training and every instructor must not fall behind this primary consideration,” he added. Rene Acosta

Major General Romeo Brawner Jr. lists priority as incoming Philippine Army chief Comelec deposits poll source code for ’22 elections to ITD By Rene Acosta @reneacostaBM

NCOMING Army Commanding General Maj. Gen. Romeo Brawner Jr. has vowed to further develop the war fighting skills and capabilities of Army troops while improving their morale and welfare. Brawner, the current commander of the 4th Infantry Division (4th ID) based in Cagayan de Oro City, said these would be his main focus once he assumes the reign of the Army leadership. “I have lots of goals, but foremost is to take care of the health, welfare and morale of the troops and their families because our troops are the most important resources of the Philippine Army,” he said. The senior Army official, a member of the Philippine Military Academy Class of 1989, has been

PHILIPPINE Army (PA) chief and incoming PA Commanding General Maj. Gen. Romeo Brawner Jr. FILE PHOTO COURTESY OF AFP

designated to replace Lt. Gen. Andres Centino as Army chief in a yet to be announced change of command rite.

Centino is the chief of staff of the Armed Forces of the Philippines (AFP) and he is currently holding the top Army post in concurrent capacity following his designation as chief of staff upon the retirement of Gen. Jose Faustino. Aside from improving the morale and welfare of Army personnel, Brawner said, he would like to focus in further developing the war fighting skills of the troops as fighting is their core competency. The Army, just like the Air Force and the Navy, is a force provider to the AFP. The AFP through its spokesman Col. Ramon Zagala welcomed the designation of Brawner and even that of his PMA classmate, Maj. Gen. Connor Anthony Canlas Sr. as the new commanding general of the Air Force. Canlas, cum laude of PM A Class 1989, succeeded retired

Lt. Gen. Allen Paredes during a change of command ceremony on Tuesday. “The AFP welcomes the appointment of Major General Romeo Brawner Jr. as the Commanding General of the Philippine Army, replacing Lt. Gen. Andres Centino who previously assumed as the AFP chief of staff,” said Zagala. Before holding his current post as commander of the 4th ID, Brawner served and as the first AFP Deputy Chief of Staff for Financial Management, an office that was activated in December 2020 and Commandant of Cadets of the PMA. He had also served as deputy commander of the JTF Marawi and spokesman during the Marawi siege, commander of the 103rd Brigade, and chief of the AFP Public Affairs Office. Brawner is a Special Forces and an Airborne trooper by training.

HE Commission on Elections (Comelec) has deposited the final local source code and “trusted build” of the automated election system (AES) of the May 9, 2022 elections to its Information Technology Department (ITD) in preparation for its escrow at the Bangko Sentral ng Pilipinas (BSP). Comelec executive director Bartolome Sinocruz Jr. and ITD acting director Jeannie Flororita received the codes during the turnover ceremony held at Diamond Hotel in Manila on Wednesday afternoon. Comelec spokesman James Jimenez said the two officials will be the ones who will deposit in the vault of ITD at the central bank. “The codes will be deposited in the vault of the ITD preparatory to be deposited in escrow in the BSP as

provided for by law,” he said. The proceedings were streamlined via the Facebook account of the poll body. “This deposit of source code is necessary to ensure that there is a trusted copy of the final trusted build, the trusted copy and will not be opened to tampering or any possible alteration by anyone precisely because it is under the vault of the BSP, which is a very important security and transparency measure,” Jimenez added. Jimenez said the verifiable hash codes will be published on the Comelec website for the people can check for themselves if the vote counting machines (VCMs) they are using on Election Day are the same unaltered machines that have been subjected to the final trust build. PNA

A4 Thursday, December 9, 2021 • Editor: Vittorio V. Vitug

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Foreign investment pledges drop 45.8% in Q3–PSA data

By Bernadette D. Nicolas

@BNicolasBM

HE country’s foreign investment pledges in the third quarter of this year plunged by 45.8 percent, data from the Philippine Statistics Authority showed.

Based on the latest Approved Foreign Investments report, foreign investments dropped to P16.82 billion in the third quarter of this year from P31.03 billion in the same period a year ago. “Approved foreign investments represent investment commitments and pledges by foreigners regardless

of percentage of ownership of the ordinary shares, which may be realized in the near future,” PSA said. Bulk of approved foreign investments for the period came from Philippine Economic Zone Authority (Peza). However, investments approved by Peza slipped by 27.6 percent

year-on-year to P14.68 billion from P20.28 billion. Meanwhile, pledges approved by the Board of Investments plunged by 90.5 percent to P1.01 billion from P10.63 billion in the third quarter of last year. Other foreign investment pledges were approved by Clark Development Corporation (P847.3 million) and Subic Bay Metropolitan Authority (P290 million). Of the investing countries, Japan led the list as it intended to pour P11.16 billion or 66.4 percent of the total foreign investment pledges. This was higher by more than threefold compared with P3.31 billion recorded in the previous year. Trailing Japan are the Netherlands and the British Virgin Islands, with pledges amounting to P1.56 bil-

lion (9.2 percent) and P698.3 million (4.2 percent), respectively. Foreign investment pledges recorded during the period are projected to generate 10,268 jobs. By industry, the manufacturing sector would receive P11.01 billion or 65.5 percent of the total foreign investment pledges, followed by real estate with P2.7 billion or 16 percent and administrative and support service activities with P2.38 billion or 14.2 percent. Majority of the foreign investment pledges were intended to finance projects in Calabarzon (P8.45 billion). Other regions, which cornered big chunks of the total are Ilocos Region (P3.4 billion), Central Luzon (P2.12 billion), and the National Capital Region (P2.1 billion).

Senators await Palace signing into law of benefits for learners with disabilities By Butch Fernandez

@butchfBM

AWMAKERS moved to elevate to Malacañang for early signing into law a Congressratified legislation mandating sweeping reforms to benefit learners with disabilities. Sen. Win Gatchalian, co-author and sponsor of Senate Bill 1907, hailed the Senate’s ratification of the bicameral conference committee report that merged its counterpart House Bill 8080, paving the way for President Duterte to sign into law the landmark legislation “Instituting a Policy of Inclusion and Services for Learners with Disabilities in Support of Inclusive Education Act.” The awaited legislation mandates that “all schools, whether public or private, shall ensure equitable access

to quality education to every learner with disability, such that no learner shall be denied admission on the basis of disability.” In a news statement, Gatchalian reported that the lawmakers, in crafting the new law, ensured the proposed measure’s implementing rules and regulations shall provide that “minimum services and conditions will be set in the admissions systems and policies of all schools,” adding that it likewise included “the provision of assistive devices, facilities and infrastructure in the admission process, and other forms of reasonable accommodation,” among others. He added that the remedial legislation, as proposed, also provides for “the creation of a national network of Inclusive Learning Resource Centers of Learners

with Disabilities [ILRC] that will serve as a one-stop shop for the delivery of free support services to learners with disabilities and the implementation of inclusive education programs.” Moreover, the senator affirmed that the Department of Education (DepEd), in collaboration with local government units (LGUs), are mandated to “initially establish and maintain at least one ILRC in all cities and municipalities,” adding that the ILRCs may also be established in every schools district based on the requirements of cities and municipalities and the availability of resources. He noted, “Each ILRC will have a multidisciplinary team, which will be composed of experts such as educational psychologists, guidance counselors, developmental

TFBM chief: More Marawi IDPs to return home soon

OST families of internally displaced persons (IDPs) from Marawi City’s most affected area (MAA) are likely to start year 2022 rebuilding or repairing their homes. This, after Task Force Bangon Marawi (TFBM) Chairman Secretary Eduardo del Rosario and Marawi City Mayor Majul Gandamra agreed to expedite the release of building permits to about 1,500 applicants and allow them to rebuild their homes. “Basically, complete na ang documentation, ’yung go signal na lang ng officeofbuildingofficialanghinihintay,” Secretary del Rosario said, noting the meticulous process the local government unit (LGU) is observing to ensure safety and establish legal ownership of properties to avoid future dispute. “Hopefully by the third week of December, this can be cleared already. And we expect that by January [2022], we can expect that hundreds

or even a thousand can already start the construction or repair of their houses,” he stated. Out of the more than 2,200 who applied for building permits, 300 plus are now repairing their houses, while 1,500 are awaiting go signal from the LGU. “Basically, their applications are already complete and the LGU is ready to release the building permits pending final inspection and assessment to determine the structural integrity of the structures,” the TFBM chief explained. Del Rosario and Mayor Gandamra agreed to create several teams to conduct simultaneous final assessment and inspection of the subject structures in Sectors 4 to 7 to allow the IDPs to start rebuilding their homes. So far, TFBM has allowed the return of IDPs from Sectors 1 to 3— composed of three barangays out of the 24 situated inside MAA or the ground zero.

Del Rosario also said he remains optimistic that all projects within the MarawiCity’srehabilitationplanwillbe completed despite numerous challenges, particularly the weather condition. He said the ongoing massive rebuilding workisexpectedtobecompletedatleast 95 percent by June 2022. “I am certain that we can finish at least 95 percent of all major infra projects by June 2022, and I can assure everyone that the few remaining projects will surely be completed because they are already funded and being implemented by the concerned agencies,” he stressed. During latest project update briefing, officials from the various implementing agencies have cited the almost daily downpour in Marawi City as the biggest challenge hampering the rehabilitation efforts. They claimed that rains resulted in the delayed pouring of concrete and prolong the curing period for concrete structures.

pediatricians, physical therapists, speech and language therapists, special needs teachers, and other allied medical professionals. After confirming that the Senate and House panels already settled disagreeing provisions on Senate Bill 1907 and House Bill 8080, Gatchalian projected that its early enactment into law by Malacañang would be credited as the “most beautiful gift” to the education sector. At the same time, he also credited fellow senators who signed up as co-authors of his bill, including: Lito Lapid, Pia Cayetano, Sonny Angara, Cynthia Villar, Joel Villanueva, Bong Revilla Jr., Miguel Zubiri, Nancy Binay, Risa Hontiveros, Bong Go, Richard Gordon, Leila de Lima, Francis Tolentino, and Aquilino “Koko” Pimentel.

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DENR reopens 55 PAs to visitors, local tourists By Jonathan L. Mayuga @jonlmayuga

HE Department of Environment and Natural ResourcesBiodiversity Management Bureau (DENR-BMB) has revealed that 55 of the 93 Protected Areas (PAs) that promote ecotourism are now open to local visitors as the government eases Covid-19 pandemic curbs. Records further showed that as of November 25, 38 of the PAs remain closed due to the current quarantine restrictions imposed by the Covid-19 Inter-Agency Task Force for the Management of Emerging Infectious Diseases and concerned local government units (LGUs). Two of the PAs in the National Capital Region are now open. These are the Ninoy Aquino Parks and Wildlife Center and the Las PiñasParañaque Wetland Park (formerly Las Piñas Parañaque Critical Habitat and Ecotourism Area). In Region 1, the Paoay Lake National Park and Hundred Island National Park are now open. In Region 2, Northern Sierra Madre Natural Park, Quirino Protected Landscape and Palaui Island Protected Landscape and Seascape are now open to local visitors. In Region 3, only the Masinloc Oyon Bay Protected Landscape and Seascape is open to local visitors. In the Calabarzon or Region 4A, open to visitors are the Taal Volcano Protected Landscape, Quezon Protected Landscape, Maulawin Spring Protected Landscape, Pamitinan Protected Landscape and Upper Marikina River Basin Protected Landscape. In the Mimaropa or Region 4B, El Nido Taytay Managed Resource Protected Area is open for local visitors or as required by EOC-El Nido with antigen and vaccination card as requirements. The Naujan Lake National Park, meanwhile, is open to local tourists. The world-famous Tubbataha Reefs Natural Park allows tourism only from May to June. In Region 5, Abasig-MatogdonMananap Natural Biotic Area, Bongsanglay Natural Park, Libmanan Caves National Park, and Mt. Isarog Natural Park are now open to local visitors. In Region 6, Mt. Kanlaon Natu-

ral Park, Northwest Panay Peninsula Natural Park and Sagay Marine Reserve are open to visitors, while the Taklong Island National Marine Reserve is open only to fully vaccinated individuals. In Region 7, open to the public are Central Cebu Protected Landscape, Olango Island Wildlife Sanctuary, Camotes Island Protected Landscape and Seascape, Guadalupe Mabugnao Mainit Hot Spring National Park, Rajah Sikatuna Protected Landscape, Chocolate Hills Natural Monument, Cabilao-Sandingan Islands Mangrove Swamp Forest Reserve/Wilderness Area, Candijay-Anda-Mabini Mangrove Swamp Forest Reserve, Bantayan Island Wilderness Area, Apo Island Protected Landscape and Seascape and Balinsasayao Twin Lakes Natural Park. In Region 8, Cuatro Islas Protected Landscape and Seascape is open for residents of Inopacan, Leyte, while Lake Danao Natural Park, Mahagnao Volcano Natural Park, Samar Island Natural Park, Guiuan Marine Resource Protected Landscape and Seascape are all open to local visitors. In Region 9, the Jose Rizal Memorial Protected Landscape and Mt. Timolan Protected Landscape are open to local visitors. In Region 10, open to local visitors are the Mt. Kalatungan Range Natural Park, Mt. Malindang Natural Park, Initao-Libertad Protected Landscape and Seascape. In Region 11, partially opened are the Mt. Apo Natural Park, Pujada Bay Protected Landscape and Seascape. Open to local and foreign visitors, meanwhile, are the Mabini Protected Landscape and Seascape, Aliwagwag Protected Landscape, and Baganga Mangrove Swamp Forest Reserve. In Region 12, some of the local beach resorts in Sarangani Bay Protected Seascape are now open, while the Mt. Matutum Protected Landscape, Allah Valley Watershed Forest Reserve and Libungan River Watershed Forest Reserve are now accepting visitors. Finally, in the Caraga Region, both the Agusan Marsh Wildlife Sanctuary and Siargao Island Protected Landscape and Seascape are now open to tourists.

Bong Go: Digital transformation key to boost economy, biz, job creation

ONGRESS was pressed to frontload passage of the proposed E-Governance Law, embodied in Senate Bill 1738 filed by Senator Christopher Lawrence “Bong” Go with proponents projecting early enactment of the enabling law will “fast-track private and public transactions” through digitalization billed to boost economic recovery. To be known as the E-Governance Act of 2020 once enacted into law, Go noted that digitalization will be “crucial in business, job creation and economic recovery.” In a news statement, the administration senator stressed the need to digitalize government processes and transactions as the country adapts to the new normal towards pandemic recovery. Citing a recent survey affirming that vast majority of Filipinos believe digital technology can improve business and employment creation, the senator said, “We need egovernance to provide our people with services they need from the comfort of their homes or workplaces,” adding that “not only shall it enable our bureaucracy to better transition into the ‘new normal’ but it will also cut or minimize red tape and corruption.” Go noted a survey conducted by Social Weather Stations for the Stratbase ADR Institute for Strategic and International Studies in October this year, noting, “about 89 percent of Filipinos recognized the advantage of digital technology in the creation of jobs and businesses.” The senator added it also showed the respondents agree “more overwhelmingly,” with 94 percent agreeing that digitalization has a lot of advantages, according to the research group. At the same time, he observed that 92 percent of the respondents said the Duterte government should “create, upgrade and expand” the country’s digital infrastructure to increase speed, dependability

SEN. Christopher Lawrence “Bong” Go FILE PHOTO

and access across the country. The senator also noted that about 82 percent, on the other hand, agreed that “government and private sector collaboration” could boost the growth of the economy. Go also recalled filing in July 2020, Senate Bill 1738, also known as the E-Governance Act of 2020, mandating the government to establish an integrated, interconnected, and interoperable information and resource-sharing and communications network spanning the entirety of the national and local government, an internal records management information system, an information database, and digital portals for the delivery of public services. As provided in Go’s bill, the government, both national and local, can also enter into contracts, agreements, or partnerships with the private sector to provide various resources, assets, and services in order to comply or enhance compliance with the provisions of the proposed law, adding that “all contracts or agreements with the private sector will be subject to the laws and rules on public accountability and transparency and good governance.” The remedial legislation, likewise, provides for the digitization of paper-based and other traditional modes of workflows for a more efficient and transparent public service. Go observed that the transition of the government to the digital age has been a long time coming. “In an age where almost everything can be done online and through other digital platforms, the government must harness the power of information andcommunicationstechnologytobetterserveitspurposeand bring the government closer to the people,” Go said. ButchFernandez

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DOH tells ROFs: Provide accurate contact details By Claudeth Mocon-Ciriaco @claudethmc3

HE Department of Health (DOH) on Wednesday reminded travelers, specially returning overseas Filipinos (ROF) to provide accurate contact details and travel history, or face penalties stipulated under Republic Act 11332, or the “Mandatory Reporting of Notifiable Diseases and Health Events of Public Health Concern Act.” Health Undersecretary Maria Rosario Vergeire issued the reminder amid the DOH’s efforts to locate seven more travelers from South Africa where the origin of the more transmissible variant with multiple mutations was traced. DOH reported earlier it has tracked down one of the eight travelers from South Africa. These seven are all ROFs Filipinos, three of whom gave an agency number and not a personal number; one an incorrect number; one incomplete number and two uncontactable. “Yes [giving of wrong information is punishable under] RA ng [of the] notifiable diseases [law] and’‘yung [the] health declaration forms once we sign it are attested dapat [it should] be true,” Vergeire said. The law aims to protect people from public health threats through the efficient and effective disease surveillance of public health concern. It also recognizes the disease surveillance and response systems of the DOH and its local counterparts as the first line of defense against epidemics or any events that may pose as health threats to the public. Any person or entity found to have violated the mentioned law shall be penalized with a fine of “not less than P20,000 but not more than P50,000 or imprisonment of not less than 1 month but not more than 6 months, or both such fine and imprisonment, at the discretion of the power court.” On Monday, while Vergeire said

that there has been no detection of the Omicron variant yet in the country, she admitted that the agency is still tracing the whereabouts of eight more travelers from South Africa who arrived in the Philippines between November 15 and 29. Vergeire said that the travelers being located are part of the 253 travelers from South Africa.

Ready for Omicron

MEANWHILE, Philippine Red Cross (PRC) Chairman Sen. Richard Gordon said that the country’s foremost humanitarian organization has made preparations to combat the Omicron variant. Gordon assured PRC is accelerating its testing and vaccination rollout as well as readying its Emergency Field Hospitals and medical tents as the threat of the Omicron variant looms. At the height of the Covid-19 surge last April 2021, PRC opened a 100bed capacity Emergency Field Hospital at the Lung Center of Philippines and medical tents at the National Kidney and Transplant Institute to serve as emergency ward extensions to cater to Covid-19 positive patients. To date, PRC has served more than 8,744 patients. “Dapat lagi tayong handa. Kaya ipinapaalala ko ang [We should be ready. I am reminding you of the ] 4Ps. We must Predict, Plan, Prepare and Practice,” Gordon said, stressing that they are gearing up even there is still no Omicron variant detected in the country. Gordon has also directed the PRC to prepare personal protective equipment (PPEs) especially N95 face mask as the gear offers better protection if Omicron hits Philippine shores. Currently, PRC has 45 medical tents deployed in 32 hospitals to help mild to moderate Covid-19 cases. Gordon vowed to continue its operation as long as people need additional health-care facilities.

DND finalizing deal for procurement of 32 Black Hawk choppers, 6 OPVs By Rene Acosta @reneacostaBM

HE Department of National Defense is already in the thick of negotiations this early for the procurement of additional Black Hawk helicopters for the Air Force along with six offshore patrol vessels for the Navy. Defense Secretary Delfin Lorenzana said the projects, sought for a long time by the military, were officially pushed after funding have been appropriated for the two big ticket items under the Armed Forces of the Philippines modernization program. He told military reporters on Tuesday night that P32 billion has been approved for the acquisition of additional 32 units of Blackhawk and another P30 billion for six offshore patrol vessels (OPVs).

the International Monetary Fund, a consortium of experts working to advance development-centered climate policy at the IMF. The Climate Breakthrough Project, which was founded in 2015, selects promising leaders and champions in the international climate

HE country’s case fatality rate (CFR) as of December 7, 2021 is currently at 1.61 percent, which is below the global average of 2.0 percent, the Department of Health (DOH) on Wednesday said. This Philippine CFR, DOH added, was markedly lower than the 9 percent CFR reported in the Nikkei Covid-19 Recovery Index press release. The DOH added that after cases and deaths peaked in September 2021, both have continuously declined thereafter, along with the monthly CFR. In October 2021, there were 4,348 deaths and an October 2021 CFR of 1.84 percent and a slightly lower figure for November 2021 with 838 deaths and a November CFR of 1.81 percent.

arena annually and provides funding that will support the awardees’ ambitious and innovative work in the succeeding years. This year’s awardees will receive $3 million each, and alongside Ahmed are Emerald Cities Collaborative President Denise Fairchild from the United States and Europe Beyond Coal Campaign Director Kathrin Gutmann from Germany. Led by the David and Lucile Packard Foundation in partnership with the Oak Foundation, the IKEA Foundation, the JPB Foundation, and the Good Energies Foundation, this initiative aims to contribute to global efforts in reducing greenhouse gas emissions and maintaining the 1.5 degree warming threshold, as indicated in the Paris Agreement. Lauding this achievement is Renato Redentor Constantino, executive director of the Manila-based think tank Institute for Climate and Sustainable Cities.

BBM-Sara Uniteam in show of force in NCR. . . continued from a12

People lined up on the streets waving the Philippine flag and shouting, “Marcos Pa Rin, Marcos Pa Rin!”—a slogan made famous by supporters of Bongbong’s father in the 80s. The five-hour motorcade began along Commonwealth Avenue in front of the Commission on Audit (COA) and ended at Welcome Rotonda. “Lakasan natin ang ating sigaw ng ating sinasabi na ipagpatuloy ang pagkakaisa ng Pilipinas. Ang pagpili po ninyo kay Marcos at Duterte ay boto ninyo para sa pagkakaisa, para sa mas mabuti at mas magandang kinabukasan ng ating bansa,” Marcos told his supporters.

Marcos Jr., who won hands down in Quezon City during his vice presidential bid in 2016, is seen by supporters to dominate the presidential race in Metro Manila and other voterich regions. A 72-year-old man watching the caravan along Quezon Avenue, Francisco Moral, was on the verge of tears as he reminisced the days when he was a rabid supporter of the late strongman, who was ousted by a People Power revolt in 1986. Another senior citizen said, “They can never put a good man down.” “They said it was People Power that ousted the Marcoses then; now

DEFENSE Secretary Delfin N. Lorenzana (left) graces the turnover ceremony of the five brandnew Sikorsky S-71i “Black Hawk” combat utility helicopters at the Clark Air Base, Angeles City, Pampanga, on December 3, 2021. Lorenzana on Sunday, December 5, 2021, said the five new helicopters will further improve the lift capability of the Philippine Air Force to support various operations of the Armed Forces of the Philippines. PHOTO COURTESY OF DEFENSE SECRETARY DELFIN LORENZANA FACEBOOK

The helicopters will be bought from the Polish company that already supplied the 16 units of Black Hawks to the Air Force, although Lorenzana clarified that there has been “no contract yet” and that the procurement is “still under negotiations.” The Air Force took delivery last month of five Black Hawks from the same Polish firm, which comprised the last batch of its procurement of 16 units of such helicopters in an earlier but separate contract. While all of the choppers have been delivered, one of them crashed while Air Force pilots were conducting night proficiency training in Tarlac last June. As to the six OPVs, Lorenzana said they were negotiating with Australian ship builder Austal for their deliveries. The Australian company maintains and operates an assembly plant in Cebu through Austal Philippines.

PHL case fatality rate remains below 2.0% global average–health dept

Pinay renewable energy expert Sara Jane Ahmed wins 2021 Climate Breakthrough Project award ARA JANE AHMED, advisor to the Vulnerable 20 (V20) Group of Finance Ministers and founder of the Financial Futures Center (FFC), was recognized as one of the awardees of the Climate Breakthrough Project this year. Ahmed is the first Filipino and Bangladeshi to receive this award. She has authored studies on renewable energy, island grid transition, coal stranded asset risk, and the regulatory weaknesses of the Philippine power sector revealed by the Covid-19 pandemic back when she was with the Institute for Energy Economics and Financial Analysis (IEEFA). She has contributed so much to the climate and energy finance discourse in the country, and is now reinforcing this in developing countries through FFC and her role as advisor to the V20 and the Climate Vulnerable Forum (CVF). Ahmed is also currently a member of the Task Force on Climate, Development and

Thursday, December 9, 2021 A5

it’s clear it’s also People Power that will install Bongbong Marcos as the next president,” he added. Meanwhile, Atty. Vic Rodriguez, Marcos’s chief of staff and spokesperson, thanked Mayor Joy Belmonte and other city officials, the caravan organizers, and the residents, regardless of their political belief, for their support. Rodriguez also apologized to the motorists and the MMDA for the traffic the event created “because we never anticipated that the carefully laid down preparation exerted by the organizers will be overwhelmed by the massive number of supporters who graced the occasion.”

For two consecutive days, meanwhile, the DOH recorded over 300 Covid-19 cases after 370 infections were logged on Wednesday. The total number of Covid-19 cases in the country stood at 2,835,593. There were also 859 recoveries and 171 deaths. The DOH further noted that the Philippine CFR used in theNikkeiCovid-19RecoveryIndexwas the rolling average CFR in Our World in Data (OWID). The 9 percent CFR calculated by the OWID was based on the number of reported deaths per day from November 18 to 27, 2021. However, of the 2,096 deaths reported for that period, only 16 percent occurredinNovember,while80percent occurred between August to October.

The high reported deaths in this latter part of November 2021 was due to delayed encoding, validation, and reporting of death information to COVIDKaya. “The Covid-19 deaths have to be verified by local Epidemiology and Surveillance Units on the ground. We are aware of the delays in encoding of death information to COVIDKaya hence we are addressing this issue with the Epidemiology and Surveillance Units to ensure our Covid-19 data is up to date,” said Health Undersecretary Maria Rosario Vergeire. She also cited the vaccination and improvements in our health-care capacities and systems may have contributed to the decline of our CFR. However, while overall Covid-19

deaths have markedly declined over the past months, an analysis of hospital admissions showed that 85 percent of those hospitalized were those who are not yet to be fully vaccinated. Also, those with severe or critical Covid-19 disease were 1.75 times more likely among the unvaccinated, while deaths due to Covid-19 were 2.6 times more likely also among the unvaccinated. “The vaccination program has helped lower our case fatality rate. Hence, the DOH continues to urge the high-risk population, especially senior citizens and those with underlying conditions, to get fully vaccinated to provide them with additional protection against Covid-19,” said Vergeire. Claudeth Mocon-Ciriaco

Deforestation threatens nesting site of Philippine Eagle in Mindanao anew By Jonathan L. Mayuga @jonlmayuga

ONSERVATION advocates on Tuesday called on the government to stop treecutting activities in Mount Makahabol-A li koson Conser vation Area, an ancient nesting site of the Philippine eagle, the country’s national bird. Led by Haribon Foundation, they are calling on DENR Secretary Roy Cimatu to direct the regional and local levels of the DENR offices to stop the cutting of 121 old-growth trees and protect what they described as an ancient nesting site of the Philippine eagle, scientifically called Pithecophaga jefferyi, a criticallyendangered species. Haribon expressed support behind the move of the Philippine Eagle Foundation (PEF), civil society organizations, and indigenous peoples to stop the cutting of 121 old-growth trees in the area, which has been designated as an environmentally critical watershed domain measuring 8,819 hectares. Haribon noted that based on the PEF’s efforts, a pair of Philippine Eagles raised at least 12 younglings in five nesting trees within the area. “It has been doing so since 1986. Based on their oral history, the Obu Manuvu has always observed the banog (local name of the Philippine eagle) in the region since time immemorial,” Haribon said in a news statement. The Philippine Eagle Integrated Conservation Plan of the Department of Environment and Natural Resources (DENR) and its partners are tasked to search for, record, and protect the nesting trees to allow the Philippine Eagle population to

survive and thrive. Our national bird has been one of the key indicators of forest health. The continuous decline of these raptors is consequent to the decline of forest cover. There are only around 400 Philippine Eagles left in the wild. A pair of adult Philippine Eagles needs at least 10 hectares of oldgrowth forest to successfully breed and raise a chick. Upon giving birth, the pair will raise the chick for two years before it goes out on its own. The cutting of the 121 old-growth trees, ancient nest trees, and eventual forest loss is

akin to stealing the home of our national bird. By law, the Philippine Eagle and its nesting trees should be protected under the Wildlife Resources Conservation and Protection Act of 2001 or Republic Act 9147—with the DENR taking the lead role. Apart from Mount MakabolAlikoson being a home to the mighty Philippine Eagles, the conservation area provides ecosystem services, such as clean water to more than 1.8 million inhabitants of Davao City alone. Clean water is a universal human right.

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Pinoys find sol fortifying aga By Khrystyn Andaya, Bianca Marie Austero, Mitzi Marion Buenconsejo & Alodia Berzel Laguardia

OFW Journalism Consortium

T’S the winter of discontent; at least for Filipinos in France, Italy, Japan and Spain. The states governing these labor-receiving countries have reciprocated the warm hospitality and sedulousness of Filipino workers.

“People here are more ‘chill,’” observed Leonor Dimaculangan who’s just on her fourth month in Spain after moving from Singapore. This is how Dimaculangan describes the support laid down by Madrid: healthcare program; unemployment benefits; job or wage security; and, ayuda (help). One or two of these were also cited as having benefited nearly 0.7 million Filipinos in France, Italy and Japan; three of the world’s advanced economies battling Covid-19. The alpine air that sweeps through Madrid adds to the calm Filipino and foreign workers feel given Spain’s response to Covid-19 infection. With about 78 percent of its 47.35 million people vaccinated as of late October, even another surge of cases in Europe won’t prompt Filipinos in Spain to decide to return to their motherland. Last November 1, the European Center for Disease Prevention and Control designated Spain as “the safest European country to visit” amid the ongoing pandemic. With the continuing inoculation of people, coupled with anti-lockdown measures, physical distancing and mobility restrictions, “incident rates have lowered,” Labor Attaché Joan Lourdes D. Lavilla said during a news briefing last October 29. Lavilla, who leads the Philippine Overseas Labor Office (POLO) based in Madrid, said Spain has lowered its 14-day incidents rate to 249 per 100,000 people.

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SOME Filipinos are choosing to stay in Spain (despite some 5,047,156 Covid-19 cases and 87,673 deaths) due to the perks and benefits the country has in store for foreigners. Dimaculangan said the health care system in Spain made her and her children decide to stay. “There are still [available beds] in hospitals and in ICUs (intensive care units) just in case Spain reaches a worst-case scenario,” she said. The Instituto Nacional de la Salud spearheads the Sanchez government’s provision of universal access to healthcare for Spanish nationals and foreign residents. The system is funded through taxes as patients are occasionally required to contribute by paying a portion of the cost of prescriptions. And since the Philippines is a former colony of Spain, Filipinos there are given the chance to apply for permanent residency and citizenship after two years of legally staying in the country. When the Sanchez Government ordered a lockdown on March 14,

2020, the government automatically extended permits, visas, foreign identification cards, renewals and long-term stays by foreigners. Spain also handed out unemployment benefits to affected workers and foreigners. The move comes even after Spain’s economy shrank by 10.823 percent in 2020, World Bank data figures showed.

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FILIPINO domestic worker Alma Pido Tadena said her husband continued receiving salaries, “as (what) my employer did to me.” The continued receipt of salaries is due to a “temporary employment adjustment” scheme called “ERTE,” or the Expedientes de Regulación Temporal de Empleo. Recently extended by the Spanish government for another year as announced last October 17, ERTE pays workers around 70 percent of their regular salary. Compa nies whose workers are eligible to receive ERTE also prohibited employers from firing workers. Small and medium-sized enterprises (SMEs) spotted to engage in fraud or redundancies while receiving ERTE benefits must return exemptions from contributions to the country’s social security system and risk heavy penalties. A statement from the La Moncloa website said that at the end of October, a total of 165,624 workers were included in temporary redundancy plans. The website article said that as of December 1, with the new ERTE regulation, 125,632 ERTEs were registered, the article read. Reportedly, the Philippine Embassy in Madrid handed over 20 euros-worth of groceries. Tadena said the salaries paid through ERTE allowed her to send money to her loved ones in the Philippines. However, the estimated 45,498 Filipinos in Spain remitted only $52.026 million in 2020, lower than the $69.958 million in 2019. O verseas Fi l ipino workers (OFWs) deployed to Spain in 2020 only reached 293, compared to 1,070 in 2019.

French’s pandemic aid

A THOUSAND kilometers northeast of Spain is France where Filipinos, including irregular migrants, also cited the response of Paris to the pandemic has ironed out worries. France’s anti-Covid response is about 110 billion euros in economic support package, with an added 15 billion euros for Covid-related programs. About 20 billion euros from that budget was given as support for companies through an unemployment insurance scheme.

These funds have benefited foreign workers. The fund covers free check-up, medicines and hospitalization, plus salary support for workers affected by the closure of businesses. “All of their medical needs, especially those who don’t have papers, are free. Check-ups, medicines and hospital bills are free,” a 48-year-old caretaker who goes by the name of Luchie said. English tutor Sheryl, 37, said she also received not only financial aid but also skills training. These, she said, helped her “integrate with the local community, as easily as possible.” Unemployed workers in France also received support through an insurance for the jobless. Up to 80 percent of the salary was covered by the French government through the state’s unemployment insurance agency Unédic (Union nationale interprofessionnelle pour l’emploi dans l’industrie et le commerce or the National Professional Union for Employment in Industry and Trade).

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THE unemployment insurance called allocation d’aide au retour à l’emploi, or commonly known as allocation chômage. It was this instrument that helped tide Luchie over for three months after her employer left

Paris and she became jobless. “Even if we were out of work, we receive 80 percent of our salary,” she said. An article at the Unedic website said the unemployment benefit is calculated on the basis of a worker’s last wage. The higher the salary, the higher the allowance will be, the article written in French said. The allowance is at least 29.56 euros per day after full-time employment. It is a maximum of 256.96 euros gross per day, the article said. About 10.2 million laid-off employees became beneficiaries of France’s extended indemnity program through the unemployment insurance. With the allocation chômage, some Filipino workers like Luchie d idn’t ex per ience sig nif icant changes in remittances to the Philippines. Still, Filipinos in France remitted only $47.534 million in 2020, down by some 45.3 percent from the $86.819 million sent home in 2019. In the first eight months of the year, Filipinos from France sent home less money: $23.03 million, compared to the $33.214 million over the same January-to-August period in 2020. For health care, eligible individuals apply for assurance mala-

die offered by the French agency L’assurance Maladie. A report by news provider Connexion France said that individuals must reside in France for at least three months to be eligible for the program. Employees who are registered in Sécurité Sociale have access to this service too. Economically-inactive individuals are covered by the this universal healthcare program. However, they need to pay to access the service. Patients with critical illnesses are entitled to 100-percent coverage.

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ACCORDING to Sher yl, while France is “almost back to normal,” the unvaccinated are getting discriminated. Last August, people with French government-mandated health passes indicating vaccination or a recent negative-Covid result were allowed inside establishments such as restaurants, cinemas, hospitals, airplanes and trains. Mandatory vaccinations are required for healthcare workers. By September 15—the deadline for vaccination—about 3,000 healthcare workers were suspended without pay. The move led to protests. However, the French Hea lth Minister Oliv ier Veran said the cou nt r y is now e x per ienc ing a “ fifth wave” of the SAR S- CoV-2

p a nd e m ic , e ve n w it h r i s i n g vacc inat ions. Data from the Organization for Economic Cooperation and Development (OECD) showed that France only accepted 230,000 new immigrants in 2020. This figure was down by 21 percent compared to entrants last year. According to the Philippine Overseas Employment Administration (POEA), only 28 overseas Filipino workers (OFWs) went to France last year, from 153 in 2019. There are an estimated 50,000 Filipinos in France. Many of these Filipinos are found in Paris and lack official work permits.

Italy’s case

ABOUT 1,300 kilometers of France is Italy where similar wage guarantees also helped OFWs stem the pandemic’s impact on cash flows. A wage guarantee fund provided by the Italian government to pandemic-hit workers has been credited by OFWs there as helping them survive. T he cou nt r y ’s u ne mplo y ment insurance, called Cassa Integrazione Guadagni Ordinario (CIGO), provides 80 percent of a worker’s salary should the worker be laid off. Liezl Joyce Callado, 33, considers herself one of those who benefited from this program. Callado, a service crew employee at

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Editor: Dennis D. Estopace • Thursday, December 9, 2021

lace in states ainst pandemic well. They follow rules properly.” Miya Shiomoto, a FilipinoJapanese teacher in Japan, said that Covid-19 “was not extremely felt” as the Japanese government was observed to be “hands on” in handling the public health crisis. Even local tourist destinations remained open. The Filipinos also said the Japanese government has been generous in giving its citizens cash aid, especially during the lockdowns. According to Arcangel, those who cannot go to work were each given 100,000 yen (about P45,000).

Next time

BUT Shiomoto chided fellow Filipinos as stubborn. News reports have reported that Japan is third among the Group-of-7 countries in terms of vaccination rate. About 70.6 percent of the country’s 127 million people, including foreign nationals, were immunized as of October 27. Philippine Ambassador to Japan Jose C. Laurel 5th said in an online briefing last June that Japan “would like to have Filipinos as caregivers or homemakers for their aging population,” but not for the meantime. “Let’s anticipate that once Japan opens its borders and allow the entry of foreign workers, we are ready; our workers are ready to enter Japan,” Labor Attaché Marie Rose C. Escalada has said.

BM GRAPHICS: JOB RUZGAL

Fewer hires

a fast-food burger joint, was one of the employees who kept her job and received the 80-percent equivalent of her monthly salary during the lockdown measures imposed in Italy. Since Callado works for a multinational firm, her field of work was not completely affected when a lockdown was implemented. “We still survive to this day,” she said. Apart from the unemployment insurance and her job, Callado also sells skin-care products online as she is required to work only 18 hours for four days. From her earnings she was—and still is—able to remit money to loved ones in the Philippines.

Income management

ACCORDING to Cindy Fuentes, a domestic helper in Milan, she had to manage her income more dutifully than before. Because of lockdown measures, she said she wasn’t and still could not remit regularly. She said she sends money intermittently and only when she has set aside income. Fuentes, 42, said she works for three to four different households a week to earn money. “I can’t work full-time now; in all seven days of the week,” she said. Nonetheless, Fuentes said she’s grateful for having a “kind-heart-

ed” employer who helped process her application for CIGO from which she received a thousand euros during the lockdown. At the onset of the pandemic, the Italian government provided three sets of wage guarantee funds. CIGO applies to firms facing a temporary crisis (especially for workers in the industrial sector). Through CIGO, the Istituto Nazionale Previdenza Sociale (INPS or the National Society Security Institute) pays the worker 80 percent of the salary for 13 weeks to 14 weeks.

Second fund

A second guarantee fund, the Cassa Integrazione Guadagni Straordinaria (CIGS), covers companies under crisis or re-organization. Industrial workers with more than 15 employees and commercial companies with more than 50 workers, are covered by CIGS. INPS pays full or partial amounts of workers’ salaries for a period of 24 months. Finally, a Wage Integration Fund (FIS) applies to workers in case of reduction or suspension of businesses by companies employing more than five employees that do not fall under CIGO and CIGS. The pandemic has led to a drop in deployment numbers to Italy, reaching only 2,095 in 2020 compared to the 9,444 deployed

in 2019, data from the POEA revealed. Filipinos in Italy sent less money last year at $179.367 million compared to 2019 ($217,405). As of the first eight months of this year, the $102.787 million is some 15.7-percent less from the $121.917 million sent during the same eight-month period last year, data from the Bangko Sentral ng Pilipinas revealed.

Japan

ACROSS continents, in Japan, no Filipino, be they workers of permanent residents, currently suffers from Covid-19. Some of them attribute this to the hands-on pandemic-mitigation response efforts of the Japanese government. Since the pandemic was declared in mid-March of 2020, the Philippine embassy recorded over500 Filipinos afflicted with SARSCoV-2. As of October, Deputy Chief of Mission Robespierre L. Bolivar said in a November 1 radio interview from Manila, there are “zero active cases” among Filipinos. Filipinos are even included in the free vaccination program of the government, with Japan reportedly having inoculated 71 percent of its 125.8 million people. According to Chiesca Arcangel, whose family migrated to Japan six years ago, “Japanese people are really disciplined and hospitable as

Even before travel ban orders were issued, overseas Filipino workers deployed to Japan took a nosedive in 2020. Data from the POEA showed that only 10,579 new-hire and rehired OFWs were deployed to Japan in 2020. That number is 67.8-percent less than the 32,844 OFWs deployed to Japan in 2019. Newly-hired OFWs to Japan fell to 7,261 in 2020, down from 20,456 in 2019. Furthermore, the rehired OFWs in Japan declined to 3,318 in 2020 from 12,388 in 2019, POEA data show. Statistics from the Japanese government show the country has about 1.7 million foreign employees, with Vietnamese (443,998) leading the list, followed by Chinese (419,431) and Filipinos in third (over-283,000). As for foreign workers, majority of Filipino workers in Japan (49.6 percent) are Technical Intern Training Program trainees. They are followed by professionals (30.3 percent), OFWs on defined activities visa (16.2 percent) and skilled workers, overseas performing artists and healthcare workers. Filipinos in Japan remitted less in 2020 ($1.576 billion) compared to 2019 ($1.795 billion). After the first eight months of 2021, the $1.023 billion remitted by Filipinos in Japan is some 1.4-percent less than the $1.038 billion wired home during the same eightmonth period last year. EDITOR’S NOTE: The contributors are third-year students of an elective journalism course, Reporting on Global Migration, at the University of Santo Tomas. Each gave consent for use of their story on a labor-receiving country.

In Africa’s most-inoculated country, life for many of Morocco’s

Pinoy migrants back to normal By Joanne Christine Ramos

OFW Journalism Consortium

VERSEAS Filipino workers (OFWs) in Morocco believe that the government has done its job in mitigating the spread of Covid-19 in this northwest African country. As of November 24, Morocco had administered over 48.6 million doses of Covid-19 vaccine, the highest number of inoculations so far in the whole African continent. At least 61.3 percent of the country’s 39.6 million population has been fully vaccinated, which some OFWs deem as a good number compared to other countries in the continent. “The health authorities [here in Morocco] made an excellent intervention in combating the spread of the virus. [There was] no problem at all,” OFW Fernando Lopez said. “Lately, [they] are back to their normal lives. They were able to return to their respective jobs,” The Covid-19 cases in Morocco have been decreasing in the past three months, with an average of 306 cases each day, Reuters’s Covid-19 tracker reported. The country’s vaccination rate is approximately 126 doses per 100 people. According to Inah Saplala, an OFW in the Moroccan capital Rabat, the government mandated vaccination. “Vaccination is mandatory; you cannot enter any building or place without the vaccination pass. Thankfully, no changes happened in my work,” Saplala said, adding she is one of the lucky ones whose work was not affected by the pandemic. However, Saplala said many OFWs still lost their jobs and were forced to go home. Recent records from the Philippine Overseas Employment Administration showed deployed OFWs in Morocco plummeted by 80 percent: from 645 in 2019 to only 124 in 2020. Saplala said the Moroccan government, however, didn’t give financial support to foreign workers An August 13 report by the Switzerland-based nonprofit the Global Detention Project wrote that migrant workers and asylum seekers in Morocco “have faced a number of increasing hardships since the onset of the Covid-19 pandemic, including as a result of their lost access to work during lockdowns.” Reuters also reported that irregular or undocumented migrants in Morroco were not included in the mandatory vaccination program of government. Morocco hosted a United Nations-run intergovernmental conference in December 2018 that led to the approval of the Global Compact on Migration (GCM), a non-binding instrument where origin states and host countries initiate measures to help migrants and refugees. Nonetheless, Filipino migrants still found a way to help their compatriots. Aside from food vouchers given by the Philippine Overseas Labor Office (POLO) in Rabat, Lopez initiated a relief effort last year to give financial assistance to some OFWs in Rabat who had lost their jobs. “I couldn’t sleep thinking of my fellow Filipinos here in Morocco. This is not my responsibility but we ought to help,” he said, Lopez said they came up with a fund of around 2,000 Moroccan dirhams (about P10,912.12 at current exchange rates); enough to help some families in Takadoum, an area within Rabat. “That’s how we started a small relief effort here in Rabat.” Despite the small number of Filipinos working and living in Morocco (over 4,600, as of 2019 figures from the Department of Foreign Affairs), the relief effort gained support and positive feedback which resulted in more donors. The 2020 donation drive lasted for three months. Amid the pandemic, the cash remittances coming from Filipinos in Morocco rose to $0.671 million in 2020 from $0.538 million in 2019, data from the Bangko Sentral ng Pilipinas showed.

Thursday, December 9, 2021

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South Korea’s daily Covid-19 cases top 7,000 for first time

EOUL, South Korea—New coronavirus infections in South Korea exceeded 7,000 for the first time since the start of the pandemic on Wednesday as hours-long lines snaked around testing stations in the capital Seoul amid a worsening virus crisis.

More than 5,600 of the new 7,175 cases were reported in Seoul and the nearby metropolitan region, where a Delta-driven surge has led to a shortage of hospital beds and strained an already depleted health care workforce. The country’s death toll exceeded 4,000 after 63 virus patients died in the past 24 hours. The 840 patients in serious or critical conditions were an alltime high, the Korea Disease Control and Prevention Agency said. “Last week, the level of daily increase reached 5,000 and today the tally came out over 7,000— the viral spread has been fierce,” Prime Minister Kim Boo-kyum, Seoul’s No. 2 behind President Moon Jae-in, said during a virus meeting. “The greater capital region is where 80 percent of the infections have been concentrated. While we have been working with hospitals to increase the number of hospital beds (designated for Covid-19

treatment), we have been unable to catch up with the speed of transmissions,” he said. Officials have been scrambling to administer booster shots and they are monitoring a larger number of mild cases at home to preserve hospital beds for patients who are sicker. Wednesday’s daily infection tally was 1,800 more than the previous one-day record of 5,352 set on Saturday, illustrating how the Delta variant has ripped through the country after it loosened social distancing rules in November to address economic concerns. In allowing larger social gatherings and longer indoor dining hours at restaurants, officials had hoped that the country’s improving vaccination rates would help suppress hospitalizations and deaths even if the virus continues to spread. But there has been a surge in serious cases and fatalities among people in their 60s and

People queue up to wait for the coronavirus testing at a makeshift testing site in Seoul, South Korea on Wednesday, December 8. AP/Ahn Young-joon

older, including those whose immunities have waned after getting inoculated soon after the vaccine rollout began in February. Following weeks of criticism by health experts, officials enforced tighter virus restrictions starting Monday, banning private social gatherings of seven or more people in the greater Seoul area and requiring adults to verify their vaccination status at restaurants, movie theaters, museums and other indoor venues. South Korea has also tightened its borders to fend off the new Omicron coronavirus variant since identifying its first cases last week that were linked to arrivals from Nigeria. The KDCA said health workers confirmed two new Omicron cases

on Wed nesd ay, br i ng i ng t he tally to 38. While the emergence of Omicron has triggered global alarm and pushed governments around the world to tighten their borders, scientists say it remains unclear whether the new variant is more contagious, more likely to evade the protection provided by vaccines or more likely to cause serious illnesses than previous versions of the virus. South Korea is currently requiring all passengers arriving from abroad to quarantine for at least 10 days, regardless of their nationality or vaccination status. The country has banned short-term foreign travelers arriving from nine African nations, including South Africa and Nigeria. AP

Japan economy contracts 3.6% in Q3 on weaker spending, trade

OKYO—Japan’s economy contracted at a 3.6 percent annual rate in JulySeptember, according to a revised estimate released Wednesday. The downgraded growth estimate for the last quarter, down from an earlier report of a 3.0 percent contraction, reflected weaker consumer spending and trade, the government said. In quarterly terms, the measure

used for most economies, the economy contracted 0.9 percent, compared to the earlier estimate of a 0.8 percent contraction. The world’s third-largest economy has been mired in recession and struggling to recover from the impact of waves of coronavirus infections. The latest outbreak, in the late summer, has receded for now with a sharp drop in cases.

But it hit during the usually busy summer travel season, with calls for restricted business activity and travel hurting restaurants, hotels and other service sector industries. The data showed a lower level of private inventories than earlier reported, weaker government spending and business investment and weaker consumer spending. It also showed wages

contracted by 0.4 percent, instead of growing by 0.1 percent as earlier reported. Japan’s Cabinet has approved a record 56 trillion yen, or $490 billion stimulus package, including cash handouts and aid to ailing businesses, to help the economy out of the doldrums worsened by the coronavirus pandemic. Parliamentary approval of the plan is expected this month. AP

Malaysian court upholds ex-PM Najib Razak’s graft conviction

U TR A JAYA , Ma laysia— Malaysia’s Appeal Court on Wednesday upheld the conviction of ex-Prime Minister Najib Razak linked to the massive looting of the 1MDB state investment fund that brought down his government in 2018. Najib was sentenced to 12 years in jail after a high court ruled in July 2020 that he was guilty of abuse of power, criminal breach of trust and money laundering for illegally receiving 42 million ringgit ($9.9 million) from SRC International, a former unit of 1MDB. The ruling by the three-member appellate bench was delivered via a Zoom hearing after a defense lawyer was suspected to have contracted Covid-19. “All in all, we find the conviction safe,” said Appeal Court judge Abdul Karim Abdul Jalil. “We dismiss the appeal... and affirm the conviction by the High Court on all seven charges.” Najib, who looked somber when the verdict was read out, can still challenge the decision in the Federal Court, the country’s top court. The appellate court approved the defense’s request to stay the conviction pending a final appeal. Najib will remain

Former Malaysian Prime Minister Najib Razak, center, wearing a face mask arrives at the Court of Appeal in Putrajaya, Malaysia on April 5. Malaysia’s Appeal Court upheld on December 8, 2021, his conviction and 12-year jail sentence linked to the massive looting of the 1MDB state investment fund that brought down his government in 2018. AP/Vincent Thian

out on bail until then. Najib, who set up 1MDB shortly after taking office in 2009, has denied all wrongdoing and said the charges against him were political. He has just returned from Singapore, after the court approved his request earlier to travel to be with his daughter who has just given birth. Despite his graft conviction, Najib, 68, remains politically influential and his United Malays National Organization party has rebounded from its 2018 shocking election ouster. UMNO returned to government in March 2020 as part of a new coalition that took power from the reformist government that won

2018 elections. In August, UMNO took back the premiership after one of its leaders was appointed the country’s new prime minister following a power struggle. Defense lawyers argue that Najib has been denied a fair trial because the high court judge made “serious misdirections” in the trial. Najib has said he wasn’t aware of the SRC money channeled into his bank accounts and that he was misled by Malaysian fugitive financier Low Taek Jho. But the three-member appellate bench said they found no error in the high court’s judgement. Judge Abdul Karim said Najib clearly used his position to approve a government guarantee

for billions in loans to SRC in return for a bribe. He called it a “bad management of public funds” as SRC didn’t have the ability to service the loans and rejected Najib’s defense that he was acting in the national interest. “There is no national interest here, just national embarrassment,” the judge said. Abdul Karim said Najib’s argument that he was duped by Low into believing the money was part of a donation by the Saudi royal family, to keep Najib from being suspicious of the 1MDB plundering, was “untenable”. Investigators have identified Low as the mastermind behind the looting of 1MDB and he remains at large. It was “clearly a fabrication” as the money trail clearly showed the funds came from SRC, he said. Najib had knowledge of the source of the funds and “dishonestly converted it for his own use,” the judge added. Ev idence du r i ng t he t r i a l showed a complex trail of illgotten money paid for his home renovation, credit card purchases including a Chanel watch bought in Hawaii as a birthday gift for his wife, and disbursements to political parties. AP

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

Pfizer vaccine provides partial Omicron shield in early study

fizer Inc.’s vaccine provides less immunity to the Omicron variant than to other major versions of Covid-19, according to laboratory experiments that still indicated a third dose may help stop the highly mutated strain. R esea rc hers at t he A f r ic a Health Research Institute in Durban, South Africa, found Omicron resulted in about a 40-fold reduction in levels of neutralizing antibodies produced by people who had received two doses of the Pfizer-BioNTech SE shot, compared with the strain detected in China almost two years ago. The loss of immune protection is “robust, but not complete,” Alex Sigal, head of research at the laboratory, said in an online presentation of the first reported experiments gauging the effectiveness of the vaccine against the new variant. “ There will be more breakthrough” of vaccine-induced immunity, Sigal said. “A good booster probably would decrease your chance of infection, especially severe infection leading to more severe disease. People who haven’t had a booster should get one, and people who have been previously infected should be vaccinated.” Representatives for Pfizer and BioNTech, makers of the first Covid vaccine cleared in the US, didn’t immediately respond to a request for comment. The study may add to the debate over whether tweaked, Omicron-targeted vaccines will be needed soon to continue effectively fighting the pandemic. Moderna Inc. President Stephen Hoge has said there’s a risk that existing vaccines will be less effective against the strain, although US medical adviser Anthony Fauci said the severity of illness caused by the variant may be limited. Omicron’s rapid spread in South Africa has raised concern that the immune protection from vaccination or a previous bout of Covid-19 may be insufficient to stop reinfections or stem a fresh wave of cases and hospitalizations. The World Health Organization has warned Omicron could fuel surges with

“severe consequences” amid signs that it makes the coronavirus more transmissible.

Cautious optimism

Still, the jump in cases in South Africa following Omicron’s emergence hasn’t overwhelmed hospitals so far, prompting some cautious optimism that the new strain may cause mostly mild illness. Since South Africa announced the discovery of Omicron on Nov. 25, about 450 researchers globally have been working to isolate the variant from patient specimens, grow it in labs, verify its genomic sequence, and establish methods to test it in blood-plasma samples, according to the WHO. The work in Sigal ’s lab involved testing 14 blood plasma samples collected from a dozen people who had been given a second Pfizer-BioNTech shot about a month earlier to gauge the concentration of antibodies needed to neutralize, or block, the virus. Levels of neutralizing antibodies against Omicron were notably higher in a subset of participants who had a bout of Covid about a year earlier, Sigal said. That’s “promising,” said John Wherry, director of the institute for immunology at the University of Pennsylvania’s Perelman School of Medicine. It likely means an additional dose of the currently available vaccines would boost levels of neutralizing antibodies to Omicron, though more data are needed to confirm that, he said. The results are preliminary and exact levels of immune escape may change, Sigal said. The results, along with those from other labs studying the strain, will help determine whether existing Covid vaccines need to be altered to protect against Omicron. Sigal’s laboratory was the first to isolate the Beta variant, a strain of the coronavirus that was identified in South Africa in late 2020. He noted that Omicron escapes antibody neutralization more readily than Beta, which had been considered the most immune evasive of the variants of concern detected previously. Bloomberg News

Australia joins US in diplomatic boycott of Beijing Winter Games

ELLINGTON, New Zealand—Australian Prime Minister Scott Mor r ison said Wednesday that Australia will join the US in a diplomatic boycott of the Beijing Winter Games over human rights concerns. Morrison said it should come as no surprise that Australian officials would boycott the event after the nation’s relationship with China had broken down in recent years. “I’m doing it because it’s in Australia’s national interest,” Morrison said. “It’s the right thing to do.” He said Australian athletes would still be able to compete. As well as citing human rights abuses, Morrison said China had been very critical of Australia’s efforts to have a strong defense force in the region “particularly in relation, most recently, to our decision to acquire nuclear-powered submarines.” He said his government was very happy to talk to China about their differences. “There’s been no obstacle to that occurring on our side, but the Chinese government

has consistently not accepted those opportunities for us to meet,” Morrison said. Rights groups have pushed for a full-blown boycott of the Games, accusing China of rights abuses against ethnic minorities. The US and Australian decisions fall short of those calls but come at an exceptionally turbulent time for international relations and have been met with a barrage of criticism from China. The Australian Olympic Committee said the arrangements for the 40 or so Australian athletes expected to compete at the Games would not be impacted by Morrison’s announcement. “Getting the athletes to Beijing sa fely, compet ing safely and br ing ing them home sa fely rem a i ns ou r greatest challenge,” said Matt Carroll, the committee’s chief executive. “Our Australian athletes have been training and competing w ith this Oly mpic dream for four years now and we are doing everything in our power to ensure we can help them succeed,” Carroll said in a statement. AP

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UN refugee chief warns of world’s growing inability to restore peace

NITED NATIONS—The growing inability of the international community to restore peace in countries like Yemen, Libya and Ethiopia is forcing humanitar ian and refugee organizations to work increasingly dur ing conf licts which they can’t solve despite the expectations of many people caught up in these crises, the UN refugee chief warned Tuesday. Filippo Grandi reminded the UN Security Council that in the absence of political solutions to conf licts—“and those political solutions seem to be more and more scarce and far apart”—the consequences on people caught in these violent confrontations “continue to become more and more serious.” The UN high commissioner for refugees said his office and other organizations are dealing with about 84 million refugees who fled across borders and people displaced within their own countries, trying to provide humanitarian support, shelter and safety. Grandi spoke to the council and UN correspondents from Geneva where donors pledged a record of more than $1 billion Tuesday to support UNHCR’s work in 2022. While he welcomed their crucial support, Grandi said the pledges won’t be enough to support the growing challenges the agency foresees next year, largely driven by conflict, climate change and Covid-19. The high commissioner said UNHCR is appealing for nearly $9 billion to cover its operations in 136 countries and territories next year. Almost half the money is for emergencies to assist a record number of forcibly displaced people, especially in the Middle East and Africa as well as millions who have fled their homes in places like Afghanistan, Ethiopia, Myanmar, Venezuela and beyond, he said. Asked whether he saw any hope for the many millions of refugees and displaced people in 2022, Grandi said “I see glimmers of hope everywhere—if certain things are done.” “The question is will these things be done?” he asked. “Will states cooperate more to try and solve these issues? Will more resources be put into responses? Will the neutrality and safety of humanitarian operations be granted?” “I remain not terribly optimistic about progress on these matters, especially on cooperation and the search of solutions,” he said. Grandi said if it took “excruciating negotiations” in the Security Council to get approval to continue delivery of humanitarian aid through a single crossing point from Turkey into Syria, “then we are in trouble, then we cannot really aim at moving forward.” “So yes, I think the prospects,

unfortunately, are rather grim in terms of the size of the problem and the complexity of the causes,” he said. Grandi said UNHCR works in highly politicized situations, and increasingly it has to deal with “de facto authorities” who are not internationally recognized but control areas in many countries where it operates because people need help. These situations are very often complicated by political difficulties, sanctions and other restrictions on dialogue and engagement that aggravate the provision of humanitarian needs, he said. Grandi said he is often warned by countries that UNHCR should not politicize humanitarian action, but “I keep reminding states that if anybody politicizes humanitarian action it is the states, not the United Nations as an institution, not UNHCR for sure.” Nonetheless, he said, UNHCR is being accused by all sides in Ethiopia, for example, of supporting the other side which he warned is not safe for its staff or conducive to effective humanitarian action. “We operate in context in which there is more burden, expectation that humanitarian actors can solve problems, when in reality, the space is reduced even for us to save lives,” he said. Grandi said he just returned from a tour of Mexico and northern Central America where he saw “the incredible complexity of the causes of displacement”—conflict, human rights abuses, violence by criminal gangs, poverty, inequality, climate change and an inadequate response by states. He said the complexity of causes in Central America, Africa’s Sahel region, and elsewhere leads to “increasingly complicated forced displacement.” Grandi said his message to the Security Council was to focus on one of the causes—conflict—because if progress can be made toward stability then perhaps “the vicious circle” leading to the displacement of millions of people can be unblocked. He also appealed to the council to provide “the widest scope for humanitarian exception” to UN sanctions on Afghanistan’s new Taliban rulers to help the 23 million Afghans facing extreme levels of hunger and other humanitarian challenges. Grandi warned that a widespread implosion of the Afghan economy will almost inevitably trigger a much bigger exodus of Afghans seeking a better life in neighboring countries and beyond. “This is something that can still be prevented at this point, but it requires quicker action” to ensure that the economy functions including the f low of cash and ser vices, he said. AP

Thursday, December 9, 2021

Biden-Putin 2-hour talks yield no breakthrough in Ukraine tensions

ASHINGTON—President Joe Biden and Vladimir Putin were still far apart after two hours of talks on the escalating crisis caused by Russia’s massing of tens of thousands of troops near its border with Ukraine. Biden delivered a simple message during Tuesday’s video call with Putin: invade Ukraine again and face painful sanctions that will do resounding harm to your economy. Putin had his own blunt take, according to his foreign adviser Yuri Ushakov, telling the US president that “the Russian troops are on their own territory, and they don’t threaten anyone.” With no immediate breakthrough to ease tensions on the Ukraine question, the US emphasized a need for diplomacy and de-escalation, while issuing stern threats to Russia about the high costs of a military incursion. Biden “told President Putin directly that if Russia further invades Ukraine, the United States and our European allies would respond with strong economic measures,” US National Security Adviser Jake Sullivan said. He added that Biden said the US would also “provide additional defensive material to the Ukrainians… and we would fortify our NATO allies on the eastern flank with additional capabilities in response to such an escalation.” White House officials made clear that Biden is not interested in putting US troops in harm’s way defending Ukraine. But Sullivan added that potential efforts to bolster regional allies could lead to additional deployments of US troops to eastern European NATO allies. A top US envoy, Victoria Nuland, said a Russian invasion of Ukraine would also jeopardize a controversial pipeline between Russia and Germany known as Nord Stream 2. She told the Senate Foreign Relations Committee on Tuesday that if Russia invaded, “our expectation is that the pipeline will be suspended.” Ushakov dismissed the sanctions threat during his own comments to reporters following the leaders’ meeting. “While the US president talked about possible sanctions, our president emphasized what Russia

needs,” Ushakov said. “Sanctions aren’t something new, they have been in place for a long time and will not have any effect.” He described the presidents’ videoconference as “candid and businesslike,” adding that they also exchanged occasional jokes. The two leaders met on the 80th anniversary of the Japanese attack on Pearl Harbor, a defining moment that led to the US entry in World War II. They commiserated about the cost of that conflict to their own families, Ushakov noted. Hours before the high-stakes call, Biden and first lady Jill Biden visited a war memorial in Washington to commemorate the solemn anniversary. In a brief snippet of the start of their meeting broadcasted by Russian state television, the two leaders offered friendly greetings to each other. “I welcome you, Mr. President,” Putin said, speaking with a Russian flag behind him and a video monitor showing Biden in front of him. At the White House, Sullivan called it “a useful meeting,” allowing Biden to lay out in candid terms where America stands. But as the US and Russian presidents conferred, Ukraine grew only more anxious about the tens of thousands of Russian troops that have been deployed near its border. Ukrainian officials said Russia had further escalated the crisis by sending tanks and snipers to wartorn eastern Ukraine to “provoke return fire” and lay a pretext for a potential invasion. US intelligence officials have not been able to independently verify that accusation, according to an administration official who spoke on the condition of anonymity to discuss the sensitive matter. But the official said that the White House has directly raised concerns with the Russians about “resorting to their old playbook” by trying to provoke the Ukrainians. Putin entered the call looking

In this image provided by The White House, President Joe Biden speaks as he meets virtually via a secure videoconference with Russian President Vladimir Putin from the Situation Room at the White House in Washington on Tuesday, Dec. 7, 2021. At far left is White House national security adviser Jake Sullivan along with Secretary of State Antony Blinken, right, national security council senior director for Russian and Central Asia, Eric Green. Adam Schultz/The White House via AP

for guarantees from Biden that an expansion of the NATO military alliance would never include Ukraine, a demand that was a non-starter for the US and its NATO allies. The Kremlin, in a post-call statement, said NATO had been “making dangerous attempts to expand its presence on the Ukrainian territory and has been expanding its military potential near Russian borders.” On another matter, Putin proposed to lift all mutual restrictions on diplomatic missions and help normalize other aspects of bilateral relations, according to the Kremlin. Sullivan said the leaders would direct their staff to continue negotiations on that. The leader-to-leader conversation—Biden speaking from the White House Situation Room, Putin from his residence in Sochi— was one of the most important of Biden’s presidency and came at a perilous time. US intelligence officials have determined that Russia has moved 70,000 troops near the Ukraine border and has made preparations for a possible invasion early next year. Sullivan said the US believes that Putin has not yet made a final decision to invade. Biden was vice president in 2014 when Russian troops strode into the Black Sea peninsula of Crimea and annexed the territory from Ukraine. Aides say the Crimea episode— one of the darker moments for then-President Barack Obama on the international stage—looms large as Biden looks at the smoldering current crisis. Biden’s Republican opponents in Washington are framing this moment as a key test of the presi-

dent’s leadership on the global stage. Biden vowed as a candidate to reassert American leadership after President Donald Trump’s emphasis on an “America First” foreign policy. “I will look you in the eye and tell you as President Biden looked President Putin in the eye and told him today that things we did not do in 2014, we are prepared to do now,” Sullivan told reporters after the leaders’ video call. Republicans have charged that Biden has been ineffective in slowing Iran’s march toward becoming a nuclear power and has done too little to counter autocratic leaders including China’s Xi Jinping and Putin. “Fellow authoritarians in Beijing and Tehran will be watching how the free world responds,” Senate Minority Leader Mitch McConnell said from the Senate floor before the Biden-Putin meeting. But there was at least one area where the two leaders found common ground during Tuesday’s call. Sullivan said Biden and Putin had a “good discussion” on efforts to prevent Iran from becoming a nuclear power and called it an area where the two countries could cooperate. “The more Iran demonstrates a lack of seriousness at the negotiating table,” the more there will be a sense of unity among the US and the parties to the 2015 nuclear accord, including Russia and the European Union, he said. Biden on Tuesday spoke for the second straight day with leaders of the United Kingdom, France, Germany and Italy to coordinate messaging and potential sanctions. Biden is also expected to speak with Ukrainian President Volodymyr Zelenskyy on Thursday. AP

Congressional leaders reach agreement to hike debt limit W

A SHI NGTON — Cong ressiona l leaders reached an elaborate deal Tuesday that will allow Democrats to lift the nation’s debt limit without any votes from Republicans, likely averting another lastminute rush to avoid a federal default. Hours later, the House passed legislation overwhelmingly along party lines that kicked off a multi-step process. Congress approved a $480 billion increase in the nation’s debt limit in October. That’s enough for the Treasury to finance the government’s operations through Dec. 15, according to Treasury Secretary Janet Yellen’s projection. But Republicans have warned they won’t vote for any future debt ceiling increase to ensure the federal government can meet its financial obligations, and instead,

the politically unpopular measure would have to be passed entirely by the Democratic majority in both chambers of Congress. P r e s i d e nt J o e B i d e n h a d called on Republicans to “get out of the way” if they won’t help Democrats shoulder the debt responsibility. But rather than step aside and allow for a quick vote, Senate Republican leader Mitch McConnel l has helped engineer an unusual legislative process that will play out over the next several days. Donald Trump, the former president, ridiculed McConnell for allowing any action, showing just how politically toxic the routine act of paying the nation’s bills has become. “I think this is in the best interest of the country,” said McConnell, R-Ky. “I think it is also in

the best interest of Republicans, who feel very strongly that the previous debt ceilings we agreed to when President Trump was here carried us through August. And this current debt ceiling is indeed about the future and not about the past.” The agreement spelled out in the House bill passed Tuesday establishes the days-long process ahead. In short, it would tuck a provision to fast track the debt limit process into an unrelated Medicare bill that will prevent payment cuts to doctors and other health care providers. That measure passed the House by a vote of 222-212 with an only Republican, Rep. Adam Kinzinger of Illinois, siding with Democrats in voting for the measure. “House Republicans can’t support using patients and access to

local doctors as leverage to increase the national debt on our children,” said Rep. Kevin Brady, R-Texas. The measure now goes to the Senate, and if the Medicare bill becomes law, it will open the process for the Senate to raise the debt ceiling through subsequent legislation with a Democrats’ only majority vote. Senate Majority Leader Chuck Schumer, D-N.Y., struck an optimistic note that the debt ceiling plan will pass. “This is a very good outcome for the American people. We will avoid default, which would have been disastrous. Democrats have always said that we were willing to shoulder the load at 50 votes to get this done as long it was not a convoluted or risky process, and Leader McConnell and I have

achieved that.” Key to the agreement is that Democrats will have to vote on a specific amount by which the debt ceiling would be lifted. The amount has not yet been disclosed, but it is sure to be a staggering sum. Republicans want to try to blame Democrats for the nation’s rising debt load and link it to Biden’s $1.85 trillion social and environmental bill. “To have Democrats raise the debt ceiling and be held politically accountable for racking up more debt is my goal, and this helps us accomplish that,” said Sen. John Cornyn, R-Texas. The increase in the debt ceiling, however, is needed to meet financial obligations accrued by both parties under past legislation. The vast majority of it predates Biden’s presidency.

“This is about meeting obligations that the government has already incurred, largely during the Trump Administration,” House Speaker Nancy Pelosi said in a letter to Democratic colleagues. “Only three percent of the current debt has been accrued under President Biden.” Pelosi said that addressing the debt limit will prevent a drastic increase in interest rates for car loans, student debt, mortgages and other types of borrowing for Americans. T he leg islation before t he House on Tuesday establishes a fast-track process for the days ahead. A subsequent vote will be needed to pass the debt ceiling increase itself. Once the Senate has done so, the House will take up the bill and send it to Biden to be signed into law. AP

A10 Thursday, December 9, 2021 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

Strengthening PHL’s archipelagic house

ollowing China’s recent provocative actions toward the Philippines, the House of Representatives on Monday unanimously passed on third and final reading House Bill 9981 or the Philippine Maritime Zones Act, which will legitimately declare the country’s maritime zones in order to establish the legal bases by which social, economic, commercial, and other activities may be undertaken in these areas that we own. The measure provides a general declaration of the maritime zones under the jurisdiction of the Philippines, which include internal waters, archipelagic waters, territorial sea, contiguous zone, exclusive economic zone (EEZ), and continental shelf. When signed into law, it will follow the delineation in accordance with Article 76 of the United Nations Convention on the Law of the Sea (Unclos) of continental shelves extending beyond 200 nautical miles. It will establish the Philippines’s exclusive rights to explore and exploit living and nonliving resources found in these zones, in accordance with the Unclos and other existing laws and treaties. House Committee on Foreign Affairs Chairperson Rep. Ann K. Hofer said the bill was crafted in close consultation with officials from the Executive Branch and members of the academe and civil society. Explaining the bill’s impact, Hofer said that, taken together with the bill on the Archipelagic Sea Lanes, the Philippine Maritime Zones Act brings to realization the other half of the twin measures, which will complete the Philippines’s archipelagic house. “The approval of HB 9981 marks an important step towards consolidating our maritime jurisdiction as declared in the historic Arbitral Award,” she said (Read, Bill declaring PHL maritime zones hurdles House vote, in the BusinessMirror, December 6, 2021). Maritime affairs expert Jay Batongbacal said in a published report that the measure, if passed into law, will clarify to the world that we are claiming these zones in accordance with Unclos. “That is very important especially for our law enforcers, and the navy, coast guard, and maritime police because before, there would always be questions as to whether or not something can or cannot be done in a particular area of the Philippine seas because of the inconsistencies between the old law and international law. So this will now clarify that as well,” he said. Senator Panfilo Lacson earlier listed three serious threats posed by China in the West Philippine Sea: “National security, food security, and economic security.” The chairman of the Senate Committee on National Defense and Security aired the warning in a news statement: “These are the aspects of Philippine security that continue to be hit by China’s continued encroachment into our territorial waters in the West Philippine Sea.” Lacson called on the Duterte administration to take “more proactive efforts to urge the international community to exert pressure on China to comply with the arbitral ruling favoring the Philippines.” He added: “One course of action we can take is to appeal to the international community to exert whatever political pressure they can have on China to comply with the ruling. It cannot be sought by war especially in this day and age of modern technological warfare where nobody wins.” (Read, Senator lists serious China threats for PHL in WPS tiff, in the BusinessMirror, December 6, 2021). In a recent virtual conference with the 10 members of the Association of Southeast Asian Nations, Chinese President Xi Jinping said his country will not seek dominance over Southeast Asia or bully its smaller neighbors. We hope this measure will soon be signed into law. It’s about time we defend and preserve our sovereign rights in our Exclusive Economic Zone—a huge maritime area that is rich in fish, oil, gas, and other natural resources. We can’t wait to see if China’s actions can match its rhetoric about promoting peace and prosperity in the region.

Stock market snowflakes John Mangun

OUTSIDE THE BOX

edilines Distributors Inc. (MEDIC) listed its shares on the Philippine Stock Exchange on Tuesday. The offering of 825,000,000 common shares came at a price of P2.30 as the company raised approximately P1.265 billion. The “Sole Issue Manager, Lead Underwriter and Sole Bookrunner” was PNB Capital. The closing price on listing day was P1.61, the “floor” price, down 30 percent. Immediately there was great “weeping and gnashing of teeth” as buyers who apparently expected quick and bountiful profits suddenly were holding losing positions. Equally immediately came more weeping from “stock market snowflakes” and their enablers. One stock market expert who is in the process of writing a book of trading strategies and risk management for beginners had this to say: “PSE should be taking care of its handful of retail investors to encourage market participation. These bad experiences will only serve to discourage.”

Now, I am gnashing my teeth— fake, of course, but fairly expensive—at that sort of “snowflake” dumb thinking. By current “definition,” a “snowflake” is someone who “is especially sensitive and more specifically, wants to be regarded and treated as unique or special.” Let’s examine this idea of taking care of or “protecting its handful of retail investors.” If you happen to look at the web site of another “speculative” investment, you will find this warning: “Players have the sole responsibility for checking the accuracy of the data printed on your ticket[s].” That is from the Philippine

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Charity Sweepstakes Office. I wonder if the aforementioned expert ever read beyond the cover to any of the 193 PDF pages of the MEDIC prospectus, especially beginning at page 26 and through page 47, “Risk Factors”? Those 15,434 words (my column has 600 words) is part—only part—of the protection and “taking care” the PSE does for its retail investors. If that is way too difficult, one major stock broker did an 18-page report on the MEDIC offering and wrote regarding the P2.30 offering price of 32x Price Earnings Ratio, “To justify this premium, Medilines would have to deliver above-average growth over the coming years.” I guess the book writer has not gotten to the point of explaining what a PER “double the median P/E (14.7x) of its comparable (companies)” might mean to the share price. Note this, the average current return on the total 1,008 IPOs in 2021 on all US stock markets is a negative 2.14 percent. The worst non-Chinese owned performing company is VectivBio Holding AG, down 82.06 percent since its listing. The best is esports wagering company Esports Technologies at 300 percent higher.

ho would have imagined that we will reach this stage when almost all transactions are now being done online and digital? I remember in the 1990s when fax machines were the primary office equipment of every organization in sending out communication to their respective clients; the non-stop ringing of beepers whenever there is an important message received, and the heavy, chargeable cellular phones carried by business executives in their daily official transactions. Yes, those were the early days of communication technology. It is good to look back and recall how we survived using those gadgets. It is worth mentioning that the Social Security System was one of the primary government agencies that facilitated and anticipated technological breakthroughs, which led to computerization in its systems and core processes after the computer was first introduced in the country. Its official web site www. sss.gov.ph, launched in March 1998, provides an information gateway for members and employers to easily access their records. Subsequent upgrades were also made since then, which resulted to the creation of the My.SSS account on the web site. This is a portal for members, pensioners and employers where they can access their SSS records and submit transactions online.

Among the list of services available in My.SSS include access to membership information, inquiry on contributions and loans, status of benefit claims, submission of maternity benefit notification and application (for Self-Employed/Voluntary Member/Overseas Filipino Worker only), disbursement account enrollment, submission of benefit claims, generation of Payment Reference Number for SE/VM/OFW only) for contribution and loan payment and setting up of branch office appointments. As for our employers, they can access in My.SSS their employer information, payment history, and reimbursements. They can also submit collection lists and employment

reports, certify employee’s submitted salary loan and retirement claim applications, submit employee’s maternity and sickness notifications, monitor the status of submitted sickness and maternity reimbursement claims, download R3 and LMS File Generators, file sickness benefit reimbursement and enroll their disbursement accounts. The SSS Mobile App, a mobile digital platform/application also provides an option for our members, pensioners and employers to view their SSS records anytime and anywhere. Individuals can get their SS numbers, while members can file maternity notification and loan applications, or search SSS branch locations, among others, in the SSS Mobile App. Now, they can do all these transactions at the comfort of their own homes and offices without having to go to the SSS branch. Recently, we have been receiving positive figures regarding the usage of our electronic services. As of October 2021, there was a .66 million or 5.43-percent growth of total cumulative Web registrations compared to the total cumulative Web registrations in September 2021. The total My.SSS registration by the end of October 2021 is 12.85 million, with corresponding breakdown of 95.15 percent composed of members and pensioners, while 4.84 percent are employers. As for the SSS Mobile App, the number of downloads has also in-

For me, I do not like to see the bulk of IPO proceeds used for paying down debt. The company previously borrowed the money to improve its business. The enhancements should have paid the debt. Now perhaps they want new money to pay a debt that may have been used unprofitably. If the funds are going to be used for expansion and marketing reach, I want to know that the existing locations are profitable. Or is the company just adding more unprofitable locations with IPO cash? Last but not least, I treat every IPO as if it was a start-up company, meaning I want a “sexy” story. A corporation that suddenly has a few hundred million to a few billion pesos in new cash—“my” cash—should have some wonderful excitement just like a start-up. An IPO investor should not expect to make money if he or she is too lazy to do some research or too lacking in knowledge to understand that information. Go watch “Shark Tank” and see how successful “IPO Investors” make money. E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.

creased by 3.95 percent. More users are also downloading the App as seen by the 39.99 percent higher downloads in October 2021 compared to the same month last year. Generally, the total downloads as of October 2021 is around 21 million. The number of member and employer transactions in October 2021 coursed through My.SSS and SSS Mobile App increased by 14.70 percent and 13.13 percent, respectively. For My.SSS, most of the member transactions are Disbursement Account Enrollment Module (DAEM)related covering 50 percent of the total member transactions. For SSS Mobile App, almost half or 47.61 percent of the member transactions in October 2021 are related to Online Contribution Payment. In terms of Customer Satisfaction Rating, the SSS Mobile App’s ease of use got a high rating from members, who also gave high marks as well to their My.SSS overall experience. Aside from these, we received two awards recognizing the Innovation excellence that we have institutionalized through our Mobile App, particularly its user-friendly functionalities, flexible mobility, and secured convenience. Last month, the SSS was awarded by the Asean Social Security Association the 2021 Innovation Recognition Award. They cited the SSS Mobile App as a noteworthy innovation designed to serve SSS members’ needs in a platform adapted to the See “Ignacio” A11

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The missing ‘surge’: Stronger recovery Dr. Rene E. Ofreneo

LABOREM EXERCENS

he latest labor force statistics reaffirm what we already know. Positive economic growth is slowly coming back, alongside the gradual re-opening of the economy. This is reflected in the declining number of the unemployed. The country’s unemployment rate was down to 7.4 percent in October 2021, which is below the 8.7 percent recorded in April 2021 and the astronomical 17.7 percent in April 2020. The unemployed now number 3.5 million, while the employed total 43.8 million. However, there is a downside on the nature of the growth taking place. The underemployed, those with jobs but still looking for work, are growing in number. At 16.1 percent, they are more than double the unemployed. This figure is reinforced by other PSA data: the number of those working at less than 40 hours is rising and so are the unpaid family workers who work without pay in small farms and micro family-owned businesses, most of which belong to the large and unprotected informal sector. In short, there is a shortage of good quality jobs and businesses capable of providing workers with decent jobs. But many less fortunate workers, desperate to have a job, are accepting whatever jobs are available, no matter how low is the compensation or how bad the work conditions are. W hat the country needs is

stronger economic and jobs recovery. Not a slow-by-slow or gradual recovery based on the assumption that opening up the economy will bring it back automatically to the pre-Covid “old normal.” As it is, the Philippine unemployment rate is among the highest in Asia, and its economic recovery, among the slowest in the world. The next administration should have the capacity to strategize, develop and implement a program of vibrant, inclusive and sustainable growth. This will not be easy. It shall inherit a bad fiscal situation: high level of national indebtedness (at unpayable 65 percent debt-to-gross domestic product ratio) and limited available financial resources. How shall the next government nurse the economy to grow at a higher and faster level if it does not have the financial weapons to do so? This is the reason why civil society

movements such as the Freedom from Debt Coalition and the Nagkaisa Labor Coalition are pushing for a wealth tax, a tax to be levied on the country’s richest corporations and families. It is a tax not to punish the wealthy per se but to save the economy and save everyone, including the rich who cannot make money in an unstable economy. The next administration should also review and re-strategize the country’s development blueprint. The call to go back to the “old normal” is a bad call. The economy was not exactly doing well in the prepandemic period, with President Duterte himself declaring, middle of his term, that the economy was “in the doldrums” (“Duterte: economy in the doldrums,” Philippine Daily Inquirer, June 24, 2018). He made this comment during his inspection of the situation in the provinces and in the communities near the military camps. Yes, the economy then was growing but it was growing in a very unequal and unsustainable (in terms of the environment) way, with the industrial and agricultural sectors remaining stagnant or hardly growing. In reality, the call to “go back to the old normal” is a call for the deregulated economy to resume the old neoliberal way. This old neoliberal way assumes that the road to recovery depends on FDI coming in in a liberalized market. Is this not the reason why the DOF and Neda, instead of raising corporate tax, even pushed for its lowering through the new CREATE law? Now, they are pushing for new

laws further liberalizing a liberalized trade/investment regime. The target is not manufacturing where 100 percent foreign equity has long been allowed. The main target: abolition of the requirement for Filipino participation in the capitalization of businesses operating public utilities, owning land and extracting minerals. The CSOs are against such proposed liberalization. The Philippine experience in the liberalization and the privatization of the power sector (from generation to transmission and distribution) shows that big players, foreign and domestic, simply engage in oligopolistic business practices, content in capturing guaranteed profits at the expense of the consumers. As to mineral exploitation, these have serious implications on the environment. Same with the land market liberalization, which can lead to more social and economic inequality. Another FDI liberalization target: further opening up of the retail market to foreigners down to the pop-and-mom level or neighborhood small stores. A number of SMEs and CSOs are questioning how liberalization at such a low level in the highly competitive retail market can infuse dynamism in the economy. The likely scenario is that the big players, foreign and domestic, will simply displace thousands of micro entrepreneurs and sari-sari store owners, as what has been happening since the 1980s1990s. But why focus on a program of

Thursday, December 9, 2021 A11

attracting FDI through fiscal incentives, which lower the government’s overall tax collections? History shows that the biggest attraction to FDI is a booming economy, not necessarily fiscal incentives or cheap labor and other resources. And why focus on attracting FDI as the main economic stimulus at a time of “global distancing” among countries and trade conflicts among big players? Why forget the potentials of developing domestic industries catering to 110 million Filipinos? Incidentally, local producers bewail how the country lost some golden opportunities to use the pandemic to strengthen domestic agriculture and domestic manufacturing. At the height of the pandemic, the government liberalized the importation of rice (under the Rice Tariffication law or RTL), pork, chicken, vegetables and fish, a certain volume of which is not even taxed because they are smuggled (under-declaration or mis-declaration by importers with the connivance of corrupt customs officials). The flood of rice imports in 2020-2021 even forced a number of farmers, especially in the rice sector, to get out of farming. The projection by the lousy free-trade economists that the rice farmers would become stronger and competitive did not happen. The rice farmers were simply clobbered by the bad tariffication law enacted by a government insensitive to the situation of farmers. As to the objective that rice would be cheaper for the consumers, this did not happen either. The big private rice import-

London’s night economy dented The muddy race for the presidency by staff shortages, Covid fears By Rebecca Smith Bloomberg Opinion

ondon’s pubs and clubs have yet to fully recover from the pandemic, hit by staff shortages, a decline in visitors and growing consumer fears about the new Omicron variant. Footfall in the UK capital is still below pre-pandemic levels ahead of the vital Christmas period and advance bookings are lower than they should be for 2022, according to a report published Wednesday by a committee that scrutinizes the London mayor’s work. London’s nighttime businesses— which contributed between 17 billion pounds ($22.5 billion) and 26 billion pounds to the economy before the pandemic—have been open since July when lockdown restrictions were lifted. However, while some businesses are reporting a return to pre-Covid-19 levels of sales, the recovery for many is uneven. Prolonged closures during lockdown that led to the failure of businesses and the exit of thousands of workers from the sector mean staff shortages are acute. Door security in London is operating at about 80 percent of pre-Covid levels, hindering the operations of businesses required to implement public safety measures, such as checking

Ignacio. . .

continued from A10

changing technology. The ASSA considered the nearly 60 million SSS Mobile App transactions for the entire 2020, downloads of about 7.38 million in the same year, and the App’s top ranking in various app stores. On December 1, 2021, SSS was bestowed the 2021 Digital Excellence Award for Excellence in Digital Public Aid Distribution by Globe GCash. This award is given to government units and agencies that paved the way in uplifting the lives of their constituents and clients by pioneering the use of digital financial products to help ensure safe and efficient delivery of their services.

customer vaccination records, the report says. The Night Tube reopened on the Central and Victoria lines in late November, in what should have been a much-needed boost to the city’s nighttime economy, but was promptly disrupted by industrial action amid union disputes. Businesses from music venues to nightclubs are also grappling with changing consumer behavior. “The shape of the spend is very different,” said Paul Kohler, owner of CellarDoor in London’s West End. “Mondays and Fridays are a lot quieter. Tuesdays, Wednesdays and Thursdays are a lot busier. That is because that is when people tend to go in to work.” Younger audiences have been quicker to return than older ones. “Contemporary music gigs are selling out. Comedy is selling out. Talks aimed at younger audiences are selling out,” said Elaine Bedell, chief executive officer of the Southbank Centre, a complex of artistic venues. “Classical music has been much slower, and I know from the Arts Council that that is pretty widespread across the country.” Pub chain J D Wetherspoon Plc also said last month that a material proportion of sales came from older customers, “some of whom have visited pubs less frequently in recent times.” The achievements and innovations that we have accomplished this year affirmed SSS’s commitment in providing the members with the means to enjoy the convenience of electronic financial products that will provide them with the highest level of service. We are truly humbled and honored to receive these recognitions. We will definitely be more inspired to work harder to ensure that member transactions are “Mas Pinasimple. Mas Pinadali. Mas Pinabilis.” I wish you all a meaningful and productive week!

Aurora C. Ignacio is SSS president and chief executive officer. We welcome your questions and insights on the topics that we discuss. E-mail mediaaffairs@sss. gov.ph for topics that you might want us to discuss.

Val A. Villanueva

Businesswise

he campaign period hasn’t officially started yet, but the political scene is already awash with drama that could rival any Korean telenovela.

Presidential aspirant Sen. Christopher Lawrence “Bong” Go, even after his tearful announcement, has yet to formally file his withdrawal papers, saying that he would do it “at the right time.” His ambivalence has spawned speculations up and down the political grapevine that he could still do a turnaround. There are those who say that Go’s withdrawal depends on the outcome of the disqualification case filed against presidential aspirant Ferdinand “Bongbong” Marcos Jr. before the Commission on Elections. According to Comelec Spokesperson James Jimenez, Go has until election day, May 9, 2022, to finalize his decision. Suspicions about Go’s seeming foot-dragging to file his withdrawal are bolstered by President Rodrigo Roa Duterte’s earlier tirades against the dictator’s son and his unwillingness to backtrack or soften his attacks. Political pundits are convinced that Duterte was miffed by his daughter Sara Duterte Carpio’s acceptance of becoming Bongbong’s vice, despite what Duterte and his supporters’ claimed as Sara’s “unassailable” lead in earlier presidential surveys. The Marcos family, according to Imee Marcos, is deeply hurt, but still hopes that the President will eventually support her brother and not only his daughter in the 2022 elections. In the eventuality that the dictator’s son will be defeated in the Comelec case, it is bruited about by political insiders that Sara will then run for president with Bong Go as her vice. Political pundits are sensing intense lobbying and horse-trading at the Comelec. in the face of extreme pressure from civil society groups to immediately nullify Bongbong’s certificate of candidacy and totally disqualify him from the race, his

high-caliber legal team, led by Estelito Mendoza, is pulling out all the stops to ensure his Comelec victory. The big question mark is, as advanced by some people, if the President’s camp is lending its support to these groups. A Palace insider whom BusinessWise called to verify such insinuations issued a flat denial. The Palace source who requested anonymity said that “the President respects the independence of the Comelec and expresses hope that this episode would be over soon, for the sake of the electorate.” But is Bongbong really guilty of moral turpitude? This question is at the heart of the five petitions before the Comelec, which are aimed at cancelling his certificate of candidacy to prevent him from his presidential bid in next year’s elections. Two of the petitions asked the Comelec to cancel Bongbong’s candidacy papers, while another wanted him declared a nuisance candidate. A fourth petition that sought for his disqualification was filed by a group of victims of human-rights violations during the martial law era of Bongbong’s late dictator father Ferdinand Sr., citing a 1995 case in which the younger Marcos was convicted for failing to file income tax returns from 1982 to 1985. The fifth petition sought to disqualify him, saying his conviction for tax evasion prohibits him from holding public office. Up to this day, Bongbong has not paid any tax deficiency and surcharges, making him ineligible to hold any public office, according to the petitioners led by human-rights lawyer and University of the Philippines assistant professor Theodore Te. The petitioners were Father Christian Buenafe of the Task Force Detainees; Fides Lim of prison group Kapatid, whose husband Vicente Ladlad is a martial

law victim; Ma Edeliza Hernandez of the Medical Action Group; Celia Lagman Sevilla of the Families of Victims of Involuntary Disappearance; Roland Vibal of the Philippine Alliance of Human Rights; and Josephine Lascano of the Balay Rehabilitation Center. In a recent public statement, the petitioners said, “Marcos falsified his certificate of candidacy when he claimed that he was eligible to be a candidate for president of the Philippines in the 2022 national elections when in fact he is disqualified from doing so.” Because he was plainly a convicted criminal, the petitioners explained, Marcos Jr. is not eligible to run for any public office. Bongbong’s lead lawyer countered the allegation, saying that “the petitions to cancel [Bongbong’s] COC or disqualify him did not have specific allegation of false material representation.” His client, Mendoza asserted, is qualified to become president, as the Court of Appeals did not convict him of moral turpitude and the Comelec had actually allowed him to run for senator in 1995 and vice president in 2016. Petitioners claim that Bongbong has “no record” of compliance of payment with regard to the 1997 Court of Appeals decision on his tax case. Te cited documents from Quezon City Regional Trial Court that showed that Bongbong “was ordered by the appellate court to pay a fine of P2,000 for each count of the non-filing of income tax returns for the years 1982, 1983, and 1984, as well as a P30,000 fine for 1985 “with surcharges.” The dictator’s son, Te added, was also tasked to pay the Bureau of Internal Revenue the deficiency income taxes due with interest. In a series of articles published in the Philippine Daily Inquirer, retired Chief Justice Artemio Panganiban declared that Bongbong’s COC should be cancelled. He pointed out that a candidate may be disqualified only if he committed election offenses under the Omnibus Election Code. He said that the dictator’s son’s COC must be cancelled instead. “Disqualification, unlike cancellation of COCs, allows substitution by another candidate from the same political party bearing the same surname,” Panganiban expounded. “If the COC of Bongbong

ers and distributors kept rice prices at pre-Covid levels while grabbing the extra profits generated by the low prices of rice imports. As to manufacturing, the pandemic provided the country the opportunity to develop industries supportive of the health sector such as those producing face masks, face shields, ventilators, coveralls, PPEs and so on. The DOH even challenged the local manufacturers to show their capability in producing these materials. A number responded positively by reengineering or re-purposing their facilities (particularly those in the garments, electronics and auto parts industries). But what did the DOH do? It turned around and, together with the DBM, supported the graft-ridden importation of the said medical supplies from China. Clearly, the review and re-strategizing of the development blueprint by the next government should be as rigorous and exhaustive and participatory as possible. It will be a mistake if the next government shall repeat the mistakes of past administrations to rely on a small group of neo-liberal economists whose shopworn economic remedies—trade and investment liberalization, economic deregulation, privatization—have failed to deliver the promises of strong and sustained growth, poverty reduction and good quality jobs for the Filipino masses. Dr. Rene E. Ofreneo is a Professor Emeritus of the University of the Philippines. For comments, please write to reneofreneo@ gmail.com.

is canceled or denied due course, he cannot be substituted because such cancellation or denial legally means that the COC never existed. Thus, Bongbong’s votes will not be counted. The candidate getting the highest number of votes, excluding his votes, would be declared winner.” The retired chief justice urged the Commission’s second division to resolve the petition against Marcos Jr. immediately since the ruling will likely be appealed all the way to the Supreme Court. He summarized the grounds raised in the 52-page petition filed by Te’s group, thus: “It argued that Bongbong’s CoC should be canceled because he falsely declared under oath in paragraph 11 of his COC dated October 6, 2021, that he was “eligible for the office I seek to be elected to.” This material declaration or representation is “false” because he was convicted by a final judgment, dated October 31, 1997, of the Court of Appeals (CA) for violating Section 45 of the Tax Code, “(a) Ordering (him) to pay the BIR the deficiency taxes due with interest at the legal rate until fully paid; and (b)…to pay a fine of P2,000 for each charge in Criminal Cases Nos… for failure to file income tax returns for the years 1982, 1983 and 1984; and the fine of P30,000 in Criminal Case No…for failure to file income tax return for 1985, with surcharges.” This judgment made him ineligible to hold any public office. In a nutshell, Panganiban noted, if the petitioners “can show that Bongbong’s conviction by the CA involves moral turpitude and that the five-year prescriptive period does not embrace moral turpitude, or his alleged payment is false, inadequate, or ill-timed, his COC should be canceled.” Despite the historical revisionism that the Marcos family has been peddling for many years now, there is no question that Martial Law victims and those who oppose the return of the Marcoses to Malacañang are the clear beneficiaries if Bongbong loses his Comelec case. There is also no denying that diehard Duterte supporters who are bent on pushing for the Sara presidency would gleefully accept such an outcome. For comments and suggestions, e-mail me at mvala.v@gmail.com

A12 Thursday, December 9, 2021

Tap OFWs’ investing power, solon tells BIR C By Jovee Marie N. dela Cruz

@joveemarie

ALLING the sector a “sleeping giant” of potential investors in the Philippines, the chairman of the House Committee on Ways and Means has asked Internal Revenue Commissioner Caesar Dulay to allow overseas Filipino workers (OFWs) to apply for their Tax Identification Numbers (TINs) online and without the need for face-to-face transactions. The requirement that taxpayer information must be verified by personal appearance in the Revenue District Offices (R DOs) leaves OFWs who are still abroad unable to open stock brokerage accounts without their TINs— and because getting a TIN requires personal appearance, they are practically locked out of the market, Albay Rep. Joey Sarte Salceda pointed out. “OFWs are a sleeping giant among direct investors to the Philippines. OFWs invest some 28 billion in remittances to the Philippines. If only some 20 percent of that is additionally invested, you would increase our direct investments by around $5.6 billion. That is no number

to miss," he said. Salceda wrote a letter to Dulay following the suggestion of MyTradeAbacus Securities Corporation. The economist-lawmaker said OFWs are sleeping giants among investors, who could satisfy the need for “a broad investor base” that he called “crucial for deepening our capital markets.” Salceda added, every transaction that the stock investor makes is also subject to tax—earning the government much-needed funds for fiscal and economic recovery.” Overseas Filipinos, he noted, “are the greatest untapped resource when it comes to deepening our capital markets. All it takes is opening the doors in the first place.”

In his letter, Salceda also requested Dulay “to supply the Committee [on Ways and Means] with the tax administration rules and regulations, if any, that prevent us from fully digitalizing the process.” “May I also request that the Bureau consider agency issuances that would allow for full TIN registration,” Salceda said. The senior lawmaker said the National Internal Revenue Code, as amended, and Section 236 (I) of the Code, which requires the TIN for every taxpayer, does not appear to require personal appearance. "A fully-digital process for registering corporations has in fact already been adopted by the Securities and Exchange Commission [SEC],” Salceda told Dulay. “ R eg i st rat ion of Ta x payer Identification Number is the most basic step to ensuring that a taxpayer is able to pay taxes on his taxable activities. TINs are particularly crucial for small investors who seek to invest their money in the stock market. Overseas Filipino workers may be particularly interested in investing in Philippine stocks as a means for preparing for their return to the country and to secure the future of their family,” Salceda.

HONORING MARY Different “Marias” are displayed in a Marian exhibit at the Immaculate Conception Parish in Tayuman, Manila on Wednesday, December 8,2021, as the nation celebrated the Feast of the Immaculate Conception of the Virgin Mary. NONIE REYES

BBM-SARA UNITEAM IN SHOW OF FORCE IN NCR

HE BBM-Sara UniTeam caravan held in Quezon City as a show of force for the MarcosDuterte tandem’s drawing power in Metro Manila, drew hundreds of thousands of people on Wednesday, according to the UniTeam camp, which noted how this reinforced survey results showing them leading the race in the National Capital region. The motorcade was meant to be a show of force of supporters of presidential aspirant Ferdinand

“Bongbong” Marcos, Jr. and his running mate Davao City Mayor Inday Sara Duterte. Traffic was stalled along major thoroughfares in Quezon City, but motorists and passersby eagerly waited for the vehicle bearing Marcos and Duterte and honked, while crowds chanted “Bongbong-Sara!” What was described as a sea of humanity came in their trademark red and green T-shirts. Thousands of Angkas and Joy Ride riders clad

in blue took a day off to join the motorcade. Taxi drivers and other public utility vehicle drivers also stopped plying their routes temporarily and patiently waited for the motorcade. Some people filled footbridges, while others stood atop vehicles for a clearer view of Marcos and Duterte. Sirens of firefighters and marching bands playing along the route dominated the festive mood. Continued on A5

Companies BusinessMirror

Editor: Jennifer A. Ng

Thursday, December 9, 2021

‘Local firms must pursue sustainable development’

By VG Cabuag

@villygc

hilippine Stock Exchange Inc. (PSE) President and CEO Ramon S. Monzon said local companies need to focus on climate change as the economy further reopens and business activity returns to pre-pandemic levels. Monzon issued the statement during an online event which featured the sustainability initiatives of six publicly-listed firms. “We need to address climate change while we still can, with whatever resources we have. This is especially true for us as our country has proven to be very vulnerable to extreme weather conditions. We owe it to our countrymen, who are our

stakeholders, to reduce the likelihood of these events from happening by adopting pro-climate solutions. We all must do our part, no matter how small,” he said. “Sustainable development is not merely a buzz word or an abstract concept. It is the new necessity and reality; the new way for people to behave and live their lives and the new way for companies to do business.”

He said sustainability should be “the new necessity and reality.” “It is how individuals should live their lives and how companies should conduct their businesses. Companies that understand this will dominate the future,” he said. In partnership with the Securities and Exchange Commission, the PSE hosted a virtual event that exhibited the sustainability initiatives of six publicly-listed companies. The event featured the key sustainability policies, practices and initiatives embedded in the business strategies of selected listed firms that have created meaningful results and positive impact on the UN sustainable development goals especially those pertaining to the environment and society. Listed firms that participated in the sustainability showcase include Aboitiz Equity Ventures Inc., Axelum Resources Corp., Ayala Corp.,

First Gen Corp., San Miguel Corp. and SM Investments Corp. In October, Ayala Corp. announced its commitment to achieve net-zero greenhouse gas emissions by 2050. Ayala President and CEO Fernando Zobel de Ayala said during the group’s Integrated Corporate Governance, Risk Management, and Sustainability Summit, that the company hopes to develop its greenhouse gas footprint that includes all relevant emissions from the value chain. These include its direct emissions from its units and indirect emissions from the generation of purchased electricity. Zobel said the move aligns Ayala with the global movement for climate action, using the Paris Agreement’s goal of limiting global warming to 1.5C compared to preindustrial levels.

CEB adds more flights to Bacolod By Lorenz S. Marasigan @lorenzmarasigan

UDGET carrier Cebu Pacific (CEB) is adding more daily flights from Manila to Bacolod, as it strengthens its domestic operations for its continued recovery. Cebu Pacific Chief Corporate Affairs Officer Michael Ivan Shau said the airline’s increased frequencies for the Manila-Bacolod flights will start on December 16. The airline will be operating Manila-Bacolod flights twice daily, on top of its twice-weekly flights exclusively for fully-vaccinated pas-

Smart, Marikina govt deploy WiFi sites

sengers until January 15. “We remain committed to rebuilding the public’s trust and confidence in air travel, and we will continue to collaborate with the government to achieve this goal,” Shau said. He noted that with increased frequencies, Cebu Pacific will be able to “reduce fares” and support “the recovery of air travel to and from Bacolod.” Cebu Pacific offers a waiver of fees for 5 kilograms of excess baggage for fully-vaccinated passengers flying to and from Bacolod. The offer will run until January 15. Alex Reyes, the company’s head

of strategy, said the airline expects demand for travel will remain on a growth path if 2021 was any indication. From operating at only 19 percent of its original capacity, Cebu Pacific has restored 60 percent of its pre-Covid capacity this month. “Clearly on the domestic side, recovery will be much quicker with 84 percent of total output in 2022. We’re expecting that in some months we’ll actually be back to levels in 2020 on a month-on-month comparison. International side will be much slower [at 39 percent of total output],” Reyes said during a press briefing on Tuesday. He added that the group is pre-

pared to meet higher travel demand next year with the addition of six new aircraft to its fleet. Cebu Pacific will receive two A321neo (new engine option), one A320neo, two A330neo, and one ATR 72-600 this year. “We’ve already taken deliveries of the two A321neos, the A330 and the A320. Another A330neo, along with the ATR 72-600, are expected to arrive. We are among the few airlines in the world and the only one in the Philippines to take deliveries during a pandemic, which is a testament to CEB’s resilience, liquidity, and expected recovery as we enter 2022,” Reyes said.

Citi to relaunch PayLite in PHL By Bianca Cuaresma @BcuaresmaBM

iti Philippines announced on Wednesday that it has forged an agreement with Global Payments Inc. to bring back Citi’s merchant installment facility, PayLite. Citi PayLite is an installment facility that allows Citi credit cardholders to split their purchases of at least P3,000 at participating merchants into equal monthly installments for 3, 6, 9, 12, 24 or 36 months depending on the amount of the purchase and the terms of the participating merchant. “During this time of uncertainty brought about by the pandemic, Citi and Global Payments want to provide customers with more flexible payment options when they purchase high-ticket items, pay for school tuition fees or healthcare expenses,” the bank said in a statement. Currently, Citi PayLite is already available for purchases at some merchants across various categories such as gadgets, appliances, department store/shopping, education and healthcare and medical.

The bank said it is “aggressively growing their merchant portfolio”, to expand to hundreds of brands and thousands of outlets nationwide, to ensure that Citi PayLite is available in more locations by the end of the year. By March 2022, Citi PayLite will be available in nearly 5,000 outlets serviced by Global Payments in the Philippines including key merchants such as Abenson, Power Mac Center, Rustan’s, Stores Specialists, Inc., and The SM Store. “Citi enjoys a rich history in the Philippines, having been established here for 120 years and we take pride in our global network and in being the largest international player in the cards business. Here in the Philippines, we have nearly one million credit cards in force,” said Citi Philippines Consumer Business Head Manoj Varma. “Our cardholders have the highest purchasing power, disposable income, and credit limits. So we constantly challenge ourselves to serve them better, which is why we are happy to announce the return of Citi PayLite, so our customers enjoy the advantage and convenience of paying in installment.”

How Amazon outage left smart homes not so smart after all

Fortune Life celebrates its 37th anniversary

mart Communications Inc. and the local government of Marikina have partnered to deploy WiFi sites in high foot-traffic locations to provide residents with free Internet connection. The company said the WiFi sites will be deployed in Marikina’s barangay halls, City Hall, Freedom Park, and Public Market. Aside from this, Smart said it has fired up 5G base stations in Marikina, an initiative that it claimed to “help drive economic growth and development in the city.” “We are honored to work with Marikina City in delivering this essential service to Marikeños. We believe that through collaborations like this, and our shared purpose of nation-building powered by good governance, we can overcome this crisis,” Smart SVP and Head of Consumer Wireless Business Alex Caeg said in a statement. Smart FVP Gia Palafox added that this initiative is just a portion of its goal for Marikina. “This is just the beginning of a long partnership. Our mission is to transform Marikina into a ‘Smart Fiber City’ through fiberization of its barangays,” she said. Mayor Teodoro hailed the program as Marikina’s first city-wide WiFi project. “I strongly believe that a digital government is a better government,” Teodoro said, adding that Marikina’s digitization initiatives cover management of critical and priority programs, particularly in disaster and health crisis management. Lorenz S. Marasigan

Items for final delivery at an Amazon.com Inc. fulfillment center in Swindon, United Kingdom on November 23, 2021. Photographer: Chris Ratcliffe/Bloomberg

elebrating 37 years, Fortune Life Insurance Co., Inc. extends its gratitude to its valued policyholders, agents and employees for their trust and loyalty to the company. In line with this, Fortune Life held a Thanksgiving Mass on December 8, 2021 officiated by Fr. Jojo Buenafe of Santisima Trinidad Parish, Manila.

It was shared via livestreaming on the Facebook pages of Santisima Trinidad Parish Malate, Manila and Fortune Life Insurance (@FortuneLifePH). As part of the fun and celebration, Tiktok videos of employees enjoying their dance performance to the tune of Sandalan, the new corporate jingle were posted on their FB page which

gained thousands of likes and shares. Amazing and colorful designs showing the creativity of the employees can also be found in their FB page’s Pamaskong Face Mask post. Fortune Life, with its competent management and staff as well as the agents, will stay true to its commitment to its policyholders of “Securing your tomorrow today”.

he outage at A ma zon. com Inc.’s cloud-computing arm left thousands of people in the United States without working fridges, roombas and doorbells, highlighting just how reliant people have become on the company as the Internet of Things proliferates across homes. The disruption, which began at about 10 a.m. Eastern time Tuesday, upended package deliveries, took down major streaming services, and prevented people from getting into Walt Disney Co.’s parks. Affected Amazon services included the voice assistant Alexa and Ring smart-doorbell unit. Irate device users tweeted their frustrations to Ring’s official account, with many complaining that they spent time rebooting

or reinstalling their apps and devices before finding out on Twitter that there was a general Amazon Web Services (AWS) outage. Multiple Ring users even said they weren’t able to get into their homes without access to the phone app, which was down. The outage prompted people to reflect on the pitfalls of having a “smart” home that’s overly dependent on not only the internet, but one company in particular— while those with “dumb” homes gloated that their fridges and light switches were working just fine. Several of the affected AWS operations were on the East Coast. AWS said about nine hours later that it had resolved the network device issues that led to the outage. Bloomberg News

Companies BusinessMirror

Thursday, December 9, 2021

PSE STOCK QUOTATIONS

December 7, 2021

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

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

375,771,283 140,185,924.50 5,646,315 381,355 86,280,776.50 99,270 2,270,277 18,923 3,925,852 130,830,155 9,373,199.50 8,471,870 1,215,000 5,580 199,520 375,440 60,000 420,990

-28,234,092 43,378,487.50 76,350 78,960 1,770,081.50 -121,658 -11,448 190,000 12,463,550 289,218.50 -128,840 9,000 -

INDUSTRIAL AC ENERGY 10.48 10.5 10.9 10.9 9.97 10.5 104,575,200 1,080,020,355 ALSONS CONS 1.09 1.14 1.09 1.14 1.09 1.14 2,501,000 2,726,140 ABOITIZ POWER 29.3 29.5 30.15 30.15 29.3 29.3 1,529,200 45,160,435 BASIC ENERGY 0.63 0.64 0.64 0.65 0.63 0.64 9,725,000 6,163,310 FIRST GEN 28.6 28.75 29.15 29.15 28.6 28.6 200,300 5,736,570 FIRST PHIL HLDG 72.1 72.35 72.3 72.35 72.05 72.1 156,810 11,306,257 MERALCO 292 295.4 295.2 296.8 292 292 60,830 17,844,166 MANILA WATER 24.6 24.95 25.5 25.5 24.5 24.95 1,387,800 34,625,500 PETRON 3.16 3.19 3.2 3.2 3.16 3.16 480,000 1,525,470 PETROENERGY 3.92 4.1 4.05 4.05 3.92 4.05 36,000 145,440 PHX PETROLEUM 10.72 11.48 11.46 11.48 10.86 11.48 9,000 102,654 PILIPINAS SHELL 19.94 19.96 19.9 20.5 19.9 19.96 95,100 1,920,871 SPC POWER 13.9 13.98 13.98 14 13.7 13.98 57,100 792,416 AGRINURTURE 3.9 3.98 3.98 3.99 3.98 3.98 163,000 648,750 AXELUM 2.94 2.96 2.97 3 2.9 2.96 3,666,000 10,936,800 BOGO MEDELLIN 61.05 70.95 61.05 61.05 61.05 61.05 200 12,210 CENTURY FOOD 26.5 26.8 26.05 26.8 26.05 26.5 1,307,400 34,682,875 DEL MONTE 14.12 14.26 14.12 14.28 14.08 14.12 61,300 866,144 DNL INDUS 8.78 8.8 8.7 8.88 8.7 8.8 3,836,000 33,868,765 EMPERADOR 17.88 17.9 18 18.06 17.78 17.9 3,188,200 57,139,244 SMC FOODANDBEV 74.05 74.35 74.3 74.35 74.05 74.35 29,980 2,226,490.50 ALLIANCE SELECT 0.53 0.57 0.6 0.6 0.57 0.57 47,000 26,850 FRUITAS HLDG 1.22 1.24 1.25 1.25 1.23 1.24 965,000 1,192,600 GINEBRA 105 105.9 106 106.5 105 105 238,470 25,104,883 JOLLIBEE 232 232.2 229.6 232 228.6 232 345,810 80,043,710 LIBERTY FLOUR 27.25 28.95 27.25 27.25 27.25 27.25 1,400 38,150 MAXS GROUP 6.61 6.69 6.79 6.83 6.6 6.61 74,300 501,652 MG HLDG 0.145 0.159 0.159 0.16 0.145 0.145 180,000 27,420 MONDE NISSIN 15.8 15.84 16.54 16.6 15.74 15.8 46,155,200 738,928,852 SHAKEYS PIZZA 8.64 8.65 9 9 8.64 8.64 109,400 951,566 ROXAS AND CO 0.63 0.65 0.64 0.68 0.63 0.63 1,040,000 662,690 RFM CORP 4.6 4.65 4.6 4.65 4.58 4.58 10,000 46,230 SWIFT FOODS 0.108 0.109 0.11 0.11 0.108 0.109 1,210,000 131,810 UNIV ROBINA 131.5 131.8 132.5 132.9 131.1 131.5 955,440 125,739,859 VITARICH 0.73 0.74 0.73 0.74 0.73 0.74 1,197,000 882,290 CONCRETE A 47.95 48.2 48.45 48.5 48.2 48.2 600 29,030 CONCRETE B 50 56 59.95 59.95 59 59 100,300 6,012,700 CEMEX HLDG 1.14 1.16 1.18 1.18 1.14 1.16 1,740,000 2,007,230 EEI CORP 6.43 6.53 6.55 6.55 6.43 6.53 16,100 104,366 HOLCIM 5.17 5.18 5.29 5.29 5.17 5.18 526,900 2,734,764 KEEPERS HLDG 1.48 1.49 1.5 1.52 1.49 1.49 42,967,000 64,452,430 MEGAWIDE 5.15 5.2 5.4 5.4 5.15 5.15 697,900 3,642,539 PHINMA 19.08 19.2 18.98 19.2 18.98 19.08 557,700 10,587,676 TKC METALS 0.8 0.81 0.83 0.83 0.8 0.8 272,000 219,670 VULCAN INDL 0.93 0.94 0.96 0.96 0.92 0.94 2,511,000 2,353,000 CROWN ASIA 1.7 1.71 1.71 1.71 1.7 1.7 75,000 127,900 EUROMED 1.45 1.53 1.46 1.55 1.45 1.45 63,000 92,580 MABUHAY VINYL 4 4.29 4.18 4.29 4.15 4.29 21,000 87,460 PRYCE CORP 5.69 5.76 5.85 5.85 5.78 5.78 31,600 183,319 CONCEPCION 20.55 21.45 21.45 21.45 20.55 20.55 700 14,550 GREENERGY 2.33 2.36 2.35 2.41 2.33 2.38 1,944,000 4,627,970 INTEGRATED MICR 8.22 8.35 8.48 8.48 8.15 8.21 452,500 3,726,227 IONICS 0.71 0.74 0.72 0.72 0.71 0.71 61,000 43,380 PANASONIC 5.57 5.99 5.88 5.88 5.8 5.8 30,800 180,455 SFA SEMICON 1.06 1.11 1.1 1.11 1.06 1.11 123,000 131,610 CIRTEK HLDG 3.78 3.84 3.95 3.95 3.78 3.78 690,000 2,633,120

-205,039,219 -2,725,000 -7,580,610 12,770 -1,604,975 -10,058,935 -10,711,390 19,992,835 50,790 -713,265 321,000 -413,920 -1,476,945 5,640 -2,467,730 5,424,006.00 -560,551.50 5,015,409 22,987,024 13,400 -208,636,948 -175,498 16,910 -23,250 -36,042,568 8,030 18,470.00 -1,479,211 -2,080 -862,943 3,816.00 -51,320 -1,700 -1,450 4,109,290 1,376,129 8,520 10,600 -379,600

HOLDING & FRIMS

ABACORE CAPITAL AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL AYALA LAND LOG ANSCOR ANGLO PHIL HLDG COSCO CAPITAL DMCI HLDG FILINVEST DEV GT CAPITAL HOUSE OF INV JG SUMMIT LODESTAR LOPEZ HLDG LT GROUP MABUHAY HLDG METRO PAC INV PRIME MEDIA REPUBLIC GLASS SYNERGY GRID SM INVESTMENTS SAN MIGUEL CORP SEAFRONT RES TOP FRONTIER WELLEX INDUS ZEUS HLDG

120 92 25.5 9.35 50.4 8.7 19.96 56.6 19.1 116.9 100.9 1.83 4.04 0.59 3.22 0.88 0.6 205

0.93 828 53.1 11.3 5.84 7.39 0.9 5.13 7.81 7.5 555.5 3.5 56.05 0.64 2.93 9.81 0.39 3.85 1.15 2.3 14.64 950 111.7 2.02 125 0.231 0.166

120.8 93 25.6 9.42 50.55 8.8 20 57.5 19.48 117.7 101 1.84 4.05 0.62 3.35 1.05 0.69 207

0.95 829 53.5 11.36 5.85 7.4 0.91 5.14 8.08 7.8 558.5 3.58 56.65 0.65 3.09 9.82 0.415 3.89 1.2 2.92 14.66 959.5 112.4 2.38 126 0.25 0.178

121 93.8 25.45 9.3 50.45 8.7 20 57.5 19.1 119.2 99 1.7 4.05 0.62 3.22 0.94 0.6 207

0.95 832 53.2 11.48 5.94 7.5 0.9 5.18 7.89 7.8 569 3.56 57 0.63 2.98 9.98 0.41 3.89 1.23 2.27 14.9 940 113 2.02 125 0.235 0.166

122.7 93.8 25.6 9.45 51 8.8 20.15 57.5 19.1 119.6 101.5 1.83 4.05 0.62 3.35 0.94 0.6 207

0.97 840 53.5 11.48 5.97 7.5 0.91 5.18 8.08 7.8 572 3.56 57 0.66 2.98 10.02 0.42 3.93 1.23 2.27 14.9 959.5 113.1 2.02 125.5 0.235 0.166

119.7 92 25.2 9.3 50.3 8.7 19.96 56.4 18.8 116.8 99 1.68 4.05 0.62 3.21 0.9 0.6 205

0.93 826 52.35 11.2 5.74 7.4 0.9 5.09 7.77 7.8 555 3.5 56 0.63 2.92 9.8 0.41 3.85 1.15 2.27 14.58 935.5 111 2.02 125 0.231 0.166

120 92 25.6 9.42 50.55 8.8 20 56.4 18.8 117.7 100.9 1.83 4.05 0.62 3.35 0.9 0.6 205

0.94 828 53.5 11.3 5.85 7.4 0.9 5.13 8.08 7.8 558.5 3.5 56.65 0.63 2.93 9.81 0.42 3.85 1.15 2.27 14.64 959.5 112.4 2.02 125 0.231 0.166

3,116,040 1,506,190 221,100 40,600 1,706,210 11,400 113,600 330 207,400 1,108,820 93,520 4,711,000 300,000 9,000 62,000 410,000 100,000 2,050

2,466,000 170,870 963,200 2,190,600 5,442,000 28,100 128,000 256,900 6,106,200 1,500 138,270 20,000 1,925,640 126,000 32,000 4,539,900 500,000 11,074,000 162,000 1,000 7,935,500 172,290 67,860 9,000 25,510 150,000 240,000

2,318,320 142,246,620 51,103,605 24,680,970 31,876,826 208,036 115,330 1,316,106 48,264,779 11,700 77,309,000 70,180 108,787,887 80,210 93,600 44,839,300 208,200 42,995,710 192,130 2,270 116,720,478 163,852,340 7,597,646 18,180 3,194,715 35,050 39,840

PROPERTY ARTHALAND CORP 0.62 0.63 0.62 0.62 0.62 0.62 288,000 178,560 AYALA LAND 35.45 35.8 35.55 35.8 35 35.8 5,915,800 210,224,795 ARANETA PROP 0.98 1.02 0.98 1.03 0.98 0.98 74,000 72,650 AREIT RT 47.05 47.2 47 48 46 47.2 2,763,800 129,789,040 BELLE CORP 1.35 1.38 1.38 1.38 1.34 1.35 68,000 91,390 CITYLAND DEVT 0.73 0.74 0.73 0.74 0.73 0.74 118,000 87,190 CROWN EQUITIES 0.101 0.105 0.109 0.109 0.102 0.108 200,000 20,730 CEBU HLDG 6.1 6.6 6.06 6.11 6.06 6.1 9,800 59,620 CEB LANDMASTERS 2.86 2.87 2.83 2.87 2.81 2.87 567,000 1,610,110 CENTURY PROP 0.395 0.4 0.395 0.405 0.395 0.4 2,210,000 873,200 DOUBLEDRAGON 7.02 7.04 7.28 7.29 6.85 7.02 2,350,400 16,551,774 DDMP RT 1.78 1.79 1.81 1.81 1.79 1.79 7,643,000 13,732,780 DM WENCESLAO 6.91 6.92 6.91 6.92 6.8 6.92 262,000 1,808,360 EMPIRE EAST 0.26 0.27 0.26 0.26 0.26 0.26 280,000 72,800 EVER GOTESCO 0.305 0.31 0.32 0.32 0.305 0.31 18,720,000 5,885,300 FILINVEST RT 7.58 7.59 7.77 7.77 7.56 7.59 6,065,000 46,204,256 FILINVEST LAND 1.1 1.12 1.12 1.12 1.1 1.12 2,876,000 3,173,530 GLOBAL ESTATE 0.83 0.86 0.86 0.89 0.83 0.86 1,008,000 853,220 8990 HLDG 10.3 10.68 10.68 10.7 10.16 10.68 490,900 5,086,978 PHIL INFRADEV 1.16 1.18 1.19 1.19 1.13 1.18 1,767,000 2,050,110 CITY AND LAND 0.9 0.92 0.94 0.94 0.9 0.9 57,000 52,280 MEGAWORLD 3.09 3.1 3.16 3.17 3.08 3.09 8,451,000 26,221,530 MRC ALLIED 0.265 0.27 0.27 0.27 0.265 0.27 6,110,000 1,631,900 MREIT RT 18.28 18.3 18.3 18.32 18.2 18.3 3,307,100 60,417,048 PHIL ESTATES 0.495 0.5 0.52 0.53 0.495 0.495 11,589,000 5,835,995 PRIMEX CORP 1.99 2 1.98 2.03 1.93 1.99 933,000 1,823,340 RL COMM RT 7.21 7.33 7.4 7.4 7.2 7.33 3,164,600 23,034,493 ROBINSONS LAND 17.8 17.82 18.3 18.3 17.8 17.8 1,247,100 22,302,284 PHIL REALTY 0.211 0.219 0.22 0.22 0.219 0.219 50,000 10,990 ROCKWELL 1.47 1.55 1.5 1.5 1.47 1.47 246,000 363,610 SHANG PROP 2.58 2.62 2.62 2.62 2.62 2.62 5,000 13,100 STA LUCIA LAND 2.71 2.9 2.9 2.93 2.9 2.93 5,000 14,620 SM PRIME HLDG 35.55 36 35.85 36.1 35.5 36 4,785,800 171,749,740 VISTAMALLS 3.65 3.78 3.67 3.78 3.67 3.78 6,000 22,130 SUNTRUST HOME 1.15 1.2 1.17 1.2 1.13 1.18 510,000 588,840 VISTA LAND 3.68 3.69 3.7 3.72 3.66 3.69 201,000 741,330 SERVICES ABS CBN 12.94 12.96 13 13.1 12.94 12.96 93,800 1,219,152 GMA NETWORK 13.5 13.52 13.76 13.8 13.5 13.5 758,600 10,300,588 MANILA BULLETIN 0.41 0.44 0.435 0.445 0.405 0.445 170,000 73,500 MLA BRDCASTING 10.4 10.6 10.4 10.4 10.4 10.4 200 2,080 GLOBE TELECOM 3,280 3,390 3,286 3,390 3,202 3,390 45,990 151,477,610 PLDT 1,690 1,691 1,699 1,699 1,666 1,690 73,635 124,229,415 APOLLO GLOBAL 0.075 0.076 0.078 0.081 0.074 0.075 288,180,000 21,959,900 CONVERGE 31.85 32.1 32.4 32.4 31.7 31.85 8,993,600 288,095,695 DFNN INC 2.72 2.78 2.85 2.85 2.67 2.72 892,000 2,454,300 DITO CME HLDG 5.77 5.78 6.15 6.23 5.75 5.77 7,148,500 42,165,661 NOW CORP 1.52 1.53 1.54 1.55 1.51 1.52 480,000 729,640 TRANSPACIFIC BR 0.305 0.31 0.31 0.315 0.305 0.305 2,380,000 727,500 PHILWEB 1.87 1.88 1.89 1.89 1.81 1.87 110,000 203,860 2GO GROUP 7.7 7.79 7.61 7.85 7.61 7.8 2,900 22,582 ASIAN TERMINALS 13.9 14 13.9 14 13.9 13.9 5,800 80,790 CHELSEA 1.63 1.67 1.64 1.68 1.62 1.63 142,000 231,190 CEBU AIR 43.05 43.2 44.15 44.5 43.05 43.05 152,000 6,657,595 INTL CONTAINER 195 197.9 199.6 199.9 195 197.9 748,710 147,837,824 LORENZO SHIPPNG 0.91 0.96 0.91 0.91 0.91 0.91 24,000 21,840 MACROASIA 5.37 5.4 5.65 5.66 5.4 5.4 1,609,400 8,908,188 METROALLIANCE A 1.22 1.37 1.31 1.37 1.22 1.37 20,000 25,720 HARBOR STAR 0.87 0.9 0.9 0.9 0.88 0.88 520,000 461,460 ACESITE HOTEL 1.42 1.46 1.41 1.47 1.41 1.45 94,000 136,420 DISCOVERY WORLD 1.92 1.98 1.98 1.98 1.93 1.93 103,000 200,790 WATERFRONT 0.47 0.48 0.47 0.48 0.47 0.48 220,000 104,600 IPEOPLE 7.4 7.47 7.4 7.4 7.4 7.4 1,600 11,840 STI HLDG 0.345 0.35 0.355 0.355 0.35 0.35 1,080,000 378,200 BERJAYA 6.85 6.9 6.85 7.21 6.6 6.9 322,400 2,224,776 BLOOMBERRY 6.9 6.93 7.04 7.12 6.9 6.9 7,810,500 54,383,599 PACIFIC ONLINE 1.82 1.98 1.98 1.98 1.8 1.82 214,000 391,990 LEISURE AND RES 1.48 1.53 1.51 1.53 1.5 1.53 140,000 211,060 PH RESORTS GRP 0.82 0.83 0.85 0.85 0.82 0.83 238,000 197,360 PREMIUM LEISURE 0.425 0.43 0.44 0.44 0.43 0.43 970,000 420,200 ALLDAY 0.68 0.69 0.71 0.71 0.68 0.69 104,536,000 72,067,360 ALLHOME 9.98 10 9.68 10 9.66 10 1,250,400 12,401,036 METRO RETAIL 1.43 1.44 1.44 1.44 1.42 1.43 474,000 676,910 PUREGOLD 39.1 40 40.4 40.5 39.1 40 578,200 23,073,530 ROBINSONS RTL 63.3 63.5 63.9 64 63 63.5 83,460 5,297,668.50 PHIL SEVEN CORP 88.75 92 92.9 92.9 88.65 90 1,050 93,871 SSI GROUP 1.13 1.14 1.15 1.16 1.13 1.14 610,000 699,010 WILCON DEPOT 31.3 31.5 31.05 31.9 31.05 31.3 4,816,800 151,270,780 EASYCALL 4.81 5.68 4.86 4.86 4.85 4.85 11,500 55,870 IPM HLDG 7 7.02 7.04 7.04 7.02 7.02 8,400 59,010 MEDILINES - 1.61 1.99 2.12 1.61 1.61 387,434,000 692,790,000 PRMIERE HORIZON 0.61 0.62 0.64 0.64 0.61 0.62 7,715,000 4,815,860 MINING & OIL

ATOK 5.56 5.6 5.75 5.75 5.58 5.6 8,400 47,005 APEX MINING 1.35 1.37 1.36 1.38 1.35 1.35 6,717,000 9,132,250 ATLAS MINING 6.01 6.05 6.05 6.15 6 6.05 1,096,200 6,633,044 BENGUET A 4.84 5 5.03 5.05 4.8 4.84 1,274,700 6,171,605 BENGUET B 4.81 5.45 4.75 4.75 4.75 4.75 273,000 1,296,750 COAL ASIA HLDG 0.27 0.285 0.27 0.27 0.27 0.27 250,000 67,500 CENTURY PEAK 2.6 2.64 2.6 2.6 2.6 2.6 10,000 26,000 DIZON MINES 5.15 5.44 5.44 5.44 5.44 5.44 100 544 FERRONICKEL 2.09 2.1 2.06 2.11 2.05 2.09 992,000 2,054,530 GEOGRACE 0.195 0.216 0.194 0.194 0.194 0.194 10,000 1,940 LEPANTO A 0.125 0.127 0.125 0.127 0.124 0.127 2,030,000 253,920 MANILA MINING A 0.0086 0.0087 0.0087 0.0087 0.0087 0.0087 2,000,000 17,400 MARCVENTURES 1.12 1.16 1.18 1.2 1.1 1.13 2,013,000 2,297,850 NIHAO 1 1.04 1.01 1.01 1.01 1.01 104,000 105,040 NICKEL ASIA 5.07 5.08 5.12 5.12 5 5.08 1,010,700 5,113,442 OMICO CORP 0.305 0.32 0.3 0.32 0.3 0.32 260,000 80,100 ORNTL PENINSULA 0.72 0.74 0.73 0.73 0.72 0.72 1,320,000 954,920 PX MINING 4.82 4.9 4.96 4.96 4.82 4.89 39,000 188,460 SEMIRARA MINING 21.55 22 22.35 23 21.55 21.55 1,334,900 29,381,040 ACE ENEXOR 27.7 27.75 29 29.45 27.55 27.75 638,500 17,955,460 ORNTL PETROL A 0.01 0.011 0.01 0.011 0.01 0.011 55,700,000 559,500 ORNTL PETROL B 0.011 0.012 0.011 0.012 0.011 0.012 385,800,000 4,629,500 PHILODRILL 0.0088 0.009 0.009 0.009 0.009 0.009 3,000,000 27,000 PXP ENERGY 6.3 6.34 6.38 6.39 6.25 6.34 307,600 1,943,628 PREFFERED HOUSE PREF B 99.6 100 100 100 100 100 100 10,000 HOUSE PREF A 100.5 101 100.5 101 100.5 100.5 55,840 5,629,685 ALCO PREF D 507 510 505 507 505 507 420 212,180 AC PREF B2R 501.5 510 502 520 501 510 3,830 1,944,800 BRN PREF A 100.6 100.9 100.8 101.5 100.8 100.9 21,520 2,171,703 CEB PREF 43.5 44.45 43.6 44.45 43.5 44.45 5,200 229,060 CPG PREF A 102.6 103 103 103 103 103 100 10,300 DD PREF 100.7 101.8 100.8 101 100.8 101 11,100 1,120,900 GTCAP PREF A 1,010 1,014 1,010 1,010 1,010 1,010 885 893,850 GTCAP PREF B 1,020 1,040 1,030 1,030 1,014 1,014 5,215 5,318,910 JFC PREF A 998 1,010 998 998 998 998 20 19,960 JFC PREF B 1,015 1,020 1,015 1,015 1,015 1,015 2,950 2,994,250 MWIDE PREF 2A 96 99.9 100 100 96 100 15,300 1,489,380 MWIDE PREF 2B 98.2 101.1 101.1 101.1 98 98 15,010 1,478,617.50 MWIDE PREF 4 99 100.5 100 100.5 100 100.5 1,210 121,050 PNX PREF 3B 103.5 104.9 104 105 104 104.9 5,760 601,903 PNX PREF 4 998 1,000 1,014 1,014 1,000 1,000 655 655,180 PCOR PREF 3A 1,057 1,100 1,100 1,100 1,100 1,100 415 456,500 PCOR PREF 3B 1,100 1,124 1,084 1,122 1,082 1,122 14,830 16,047,580 SFI PREF 1.5 1.99 1.55 1.55 1.5 1.5 2,000 3,050 SMC PREF 2F 79.3 79.6 79.6 79.6 79.6 79.6 25,000 1,990,000 SMC PREF 2J 77 77.2 77 77 77 77 5,320 409,640 SMC PREF 2K 76 76.5 75.5 76.4 75.5 76.4 26,800 2,035,460 PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 12.2 12.5 12.2 12.2 12.2 12.2 900 10,980 GMA HLDG PDR 13.06 13.12 13.5 13.5 13.04 13.12 395,400 5,190,716 WARRANTS TECH WARRANT 0.81 0.82 0.85 0.87 0.8 0.81 1,306,000 1,064,960

-17,460 -17,489,010 -10,306,989 6,422,338 -2,264,430 136,180 764,176 7,616,776 8,370 22,304,267 -11,740 -5,417,127 -17,761,310 300,886 38,894,160 -2,502,924 6,200 59,475,980 -5,856,715 -30,300.00 -263,530 -106,650 -2,640,207 260,540 0 22,797,272 -1,973,310 48,858.00 -617,240.00 2,860 -1,691,960 29,650 20,961,916 10,969,109 731,322 -334,180 22,485,205 -18,350 -3,630 42,139,560 57,294,590 322,060 -15,429,100 57,070 -3,132,782 -1,520 70,150 56,990 -612,555 -24,771,054 -21,840 899,589 1,950 360,500 -18,669,468 37,600 101,110 19,255,580 6,126,349 -1,161,005 -556,072.50 -7,240.50 32,920.00 35,825,050 -7,521,610 192,780 -1,380 26,000 98,260.00 7,910 101,000 1,462,602 9,000 -24,300 -10,432,330 - 5,100 133,180 39,640 10,000 16,500 - -10,980 -4,879,528 8,000

SMALL & MEDIUM ENTERPRISES ALTUS PROP ITALPINAS MERRYMART

18.5 2.34 2.72

18.56 2.35 2.76

EXHANGE TRADE FUNDS FIRST METRO ETF

108.5

108.9

18 2.47 2.88

18.5 2.47 2.89

18 2.32 2.68

18.5 2.35 2.76

217,500 1,651,000 6,298,000

4,006,052 3,906,420 17,365,070

-7,400 24,500 -954,930.00

109 109.2 108.2 108.5 23,610 2,565,095 675,586

www.businessmirror.com.ph

House leader thumbs down govt takeover of Malampaya

LEADER of the House of Representatives on Wednesday rebuffed the call of a business group for the government—through the state-owned Philippine National Oil Co. (PNOC)—to take control of the operations of the aging offshore Malampaya gas field. In a statement, House Assistant Majority Leader Eduardo Gullas said more representative chambers of commerce and industry in the country want the government to “stay out of any business and avoid competing with private enterprises.” “In fact, we would not be surprised if business groups in the provinces, such as those in Cebu and Davao, tend to perceive the MBC [Makati

Business Club] as an elitist club from ‘imperial’ Manila,” Gullas said. “The whole point of the government’s petroleum service contracting scheme is precisely to let private corporations assume the risk of spending capital to discover and develop our indigenous gas and oil resources,” Gullas said. Manuel Pangilinan’s PXP Energy Corp., Enrique Razon Jr.’s Monte Oro

Resources & Energy Inc., and Jaime Augusto Zobel de Ayala’s ACE Enexor Inc., among others, are already engaged in petroleum service contracting, noted Gullas. “If they drill an offshore well that won’t flow gas or oil in commercial quantities, then the government does not have to worry about reimbursing them,” Gullas said. “Right now, we already have Filipino tycoons engaged in petroleum service contracting, so there’s no need for PNOC to come in and compete, more so because the government does not have the wherewithal,” Gullas added. Also, Gullas said any government acquisition and operation of a new energy asset would be highly regressive, considering that the State has been disposing of them for decades. “The business community, including the MBC, was actually very supportive of the government’s privatization program in the past,

because they participated by buying and then developing the energy assets,” Gullas said. Gullas recalled that in 2007, under pressure to bridge the budget deficit, the government sold its 60 percent stake in PNOC Energy Development Corp. (PNOC EDC) for P58.5 billion to a partnership led by Lopez-owned First Gen. Corp. “When the government sold PNOC EDC, nobody protested and said the government should keep the asset because it is the country’s largest and the world’s second-largest geothermal energy producer,” Gullas said. PNOC EDC was a Philippine Stock Exchange-listed entity with 40 percent of its shares held by the public when it was sold by the government. “The truth is, the government is a debt-ridden lumbering giant that cannot compete with highly capable private entities in running and growing energy assets,” Gullas said. Jovee Marie N. Dela Cruz

‘Clark airport to transform Pampanga’ mutual funds T

he newly built Clark International Airport (CIA) will back up the development of the Pampanga Golden Triangle into the next megalopolis in Luzon, according to former President Gloria Macapagal-Arroyo. Arroyo, who also served as Pampanga Second District congresswoman and speaker of the House of Representatives, said the rise of the new aviation facility as a global gateway to Central and North Luzon will underpin Pampanga’s shift into a megalopolis, which refers to a cluster of municipalities and cities linked by transport infrastructures such as airports, expressways and railways. “When completed it will become a jewel in Southeast Asia as it is dubbed the gateway to Northern Philippines,” she said, referring to Pampanga Megalopolis. With her vision for growth to transform Central Luzon into an icon of development, the former chief executive asked renowned urban planner Felino Palafox Jr. in 2016 to draft a development plan for the province as the epicenter of progress and development. “As a countermeasure to decongest Metro Manila, Pampanga would be one of the most viable alternatives to develop the northern part of mainland Luzon,” she said, adding that the government’s “Build, Build, Build” program will help spark economic activities in the region. Under the Pampanga Megalopolis 2017-2040 plan approved by the provincial government, the Pampanga Megalopolis will have pockets of development including an aerotropolis, an agropolis, an aquapolis and an ecopolis. The CIA will become the core of Pampanga’s aerotropolis comprised of Angeles City, San Fernando City, Mabalacat City and Mexico. It will have spatial elements, such as aviation-oriented businesses, hotels, convention centers, service industries and others. Residential areas will be developed within the outer ring of the aerotropolis and grow outwards. Also, it will have functional elements which involve businesses relying on the airport for access, while the connectivity elements will have air routes and surface linkages like highways and railways to give internal and external accessibility to the airport. Arroyo noted that the construction of Manila North Railway between Clark and Manila is now in

full swing while the Clark to Subic railway will also be developed. Other infrastructure projects that will support Pampanga’s aerotropolis are a new circumferential transport corridor, interconnecting all cities and municipalities in the province; the development of a world-class mass transportation system along MacArthur Highway in the form of bus rapid transit that will integrate and synergize with CIA. Pampanga’s Agropolis clusters the different agriculture communities of the province and provides needed urban amenities towards overall improvement of quality of life. The agropolitan development will depend on policy and technology interventions like incentives to farmers and application of hydroponic farming techniques, farm-to-market roads and post-harvest and other support facilities. It will, likewise, involve the development of agri-tourism zones. Among the municipalities covered by the proposed agropolis are Lubao, Guagua, Santa Rita, Bacolor, San Luis, San Simon, Apalit, Santo Tomas, Santa Ana and Magalang. Major products include rice, corn and sugar cane as well as livestock and poultry products. This will be complemented by pottery and casket-making (Santo Tomas), woodcarving and furniture making (Guagua), metal manufacture, guitar-making and garments and textiles, among others. Pampanga’s aquapolis, meanwhile, will bring together the province’s geographical, historical and cultural affinity to the river as well as its vast marine resources. The proposed metropolitan area that thrives on water will consider the strengths and potentials of Sasmuan, Macabebe, Minalin, Lubao and Masantol, with some of their aquatic products like tilapia, bangus, sugpo, alimango, ulang wild hito and dalang. Finally, Pampanga’s ecopolis will push the province’s rich natural attractions and eco-tourism activities such as bird watching in the wetlands of Candaba, trekking in Mt. Dorst and Mt. Arayat and community-based eco-tourism in Porac and Floridablanca. “Having clusters dedicated to eco-tourism would help in conserving the natural environment, and at the same time generate funds for the municipalities. It helps the locals, especially the indigenous people to earn their livelihood, while giving the opportunity for the guests to learn and experience.” Roderick L. Abad

December 7, 2021

NAV

One Year Three Year Five Year

per share

Return*

Y-T-D

Return

Stock Funds Growth Fund, Inc. -a

227.93

0.22%

ATRAM Alpha Opportunity Fund, Inc. -a

1.6632

26.94%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.1763

0.7%

-0.93%

0.32%

5.73%

4.64%

26.67%

-6.83%

-3.69%

1.38%

Climbs Share Capital Equity Investment Fund Corp. -a 0.7537 -7.35%

-5.65% n.a.

-7.27%

First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.7787

-2.33% n.a.

First Metro Save and Learn Equity Fund,Inc. -a

5.0908

3.1%

-3.6%

2.71%

-1.26%

0.88%

First Metro Save and Learn Philippine Index Fund, Inc. -a

0.7632

-0.21%

-3.1%

MBG Equity Investment Fund, Inc. -a

-6.1% n.a.

5% 3.03% -2.78% -1.7%

95.86

-3.01%

PAMI Equity Index Fund, Inc. -a

46.8261

-0.05%

-1.96%

0.75%

Philam Strategic Growth Fund, Inc. -a

489.58

0.03%

-1.93%

0.04%

0.13%

Philequity Alpha One Fund, Inc. -a,d

1.1497

6.19% n.a. n.a.

4.78%

-5.9% -0.03%

Philequity Dividend Yield Fund, Inc. -a

1.3058

12.31%

0.97%

2.35%

Philequity Fund, Inc. -a

35.6725

2.97%

-1.19%

1.38%

2.6%

0.34% n.a. n.a.

0.55%

Philequity MSCI Philippine Index Fund, Inc. -a Philequity PSE Index Fund Inc. -a

0.918

11.78%

4.826

0.75%

-1.22%

1.38%

0.73%

805.85

0.58%

-1.23%

1.33%

0.53%

Soldivo Strategic Growth Fund, Inc. -a

0.7407

1.9%

-5.16%

-1.78%

3.03%

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.6785

1.81%

-3.72%

-0.29%

1.51%

Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.9188 0.16%

-1.58%

1.06%

0.12%

United Fund, Inc. -a

-1.57%

2.02%

1.7%

Philippine Stock Index Fund Corp. -a

3.375

1.58%

ALFM

Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 108.3866

0.77%

-1.02%

1.81% 0.77%

Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b $1.1203

-5.24%

5.17%

5.45%

-6.87%

Sun Life Prosperity World Voyager Fund, Inc. -a $1.7917

9.79%

14.2%

11.82%

7.11%

Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a

1.6673

0.31%

0.1%

0.13%

-0.08%

ATRAM Philippine Balanced Fund, Inc. -a

2.2454

-1.5%

0.53%

0.4%

-1.75%

First Metro Save and Learn Balanced Fund Inc. -a 2.6638

1.21%

1.64%

2.09%

1.4%

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.2053

3.27% n.a. n.a. 3.63%

NCM Mutual Fund of the Phils., Inc. -a 1.9873

1.06%

2.46%

2.29%

1.03%

PAMI Horizon Fund, Inc. -a

3.7103

-1.89%

1.48%

1.27%

-2.1%

Philam Fund, Inc. -a

16.6089

-1.78%

1.3%

1.16%

-1.95%

Solidaritas Fund, Inc. -a

2.0925

0.07%

0.27%

1.02%

0.07%

0.6%

-0.96%

0.74%

0.36%

Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9812

-3.75% n.a. n.a.

-4.05%

Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.9249

-2.8% n.a. n.a.

-2.56%

Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.9139

-2.25% n.a. n.a.

-2.06%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.5863

Sun Life Prosperity Dynamic Fund, Inc. -a

0.933

5.39%

-0.07%

0.94%

5.1%

Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a

$0.03781

-3.03%

2.64%

1.62%

-3.3%

PAMI Asia Balanced Fund, Inc. -b

$1.0506

-7.14%

3.25%

3.48%

-7.03%

6.47%

10.37%

8.75%

4.27%

Sun Life Prosperity Dollar Wellspring Fund, Inc. -a $1.1878 0.02%

5.42%

4.37%

-1.2%

0.69%

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.7056

Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a

373.68

0.99%

2.92%

2.61%

ATRAM Corporate Bond Fund, Inc. -a

1.9262

1.51%

1.29%

0.4%

1.36%

Cocolife Fixed Income Fund, Inc. -a

3.2425

1.01%

3.07%

3.95%

0.84%

Ekklesia Mutual Fund Inc. -a

2.2463

-2%

1.81%

1.77%

-2.26%

First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4207 -1.08%

3.14%

1.86%

-1.32%

Philam Bond Fund, Inc. -a

4.3843

-5.27%

3.87%

1.86%

-5.31%

Philam Managed Income Fund, Inc. -a

1.3162

-0.04%

3.74%

2.71%

-0.39%

Philequity Peso Bond Fund, Inc. -a

3.9572

-0.36%

4.23%

2.74%

-1.1%

Soldivo Bond Fund, Inc. -a

1.0261

-0.97%

4.8%

2.28%

-1.67%

Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1743

-0.43%

4.65%

3.72%

-0.99%

Sun Life Prosperity GS Fund, Inc. -a

-1.22%

3.79%

3.09%

-1.9%

1.7217

Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a

$488.76

1.24%

2.99%

2.51%

ALFM Euro Bond Fund, Inc. -a

Є219.6

0.4%

1.11%

1.01%

0.17%

ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2027

-5.41%

2.28%

1.82%

-6.02%

First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.026 -1.89%

0.98%

1.45%

1.03%

-2.26%

PAMI Global Bond Fund, Inc -b

$1.0181

-6.64%

-0.36%

-0.65%

-6.6%

Philam Dollar Bond Fund, Inc. -a

$2.4994

-1.08%

5.12%

2.92%

-1.6%

Philequity Dollar Income Fund Inc. -a

$0.0623422

0.24%

3.06%

2.04%

0.07%

Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1824 -0.59%

3.51%

1.84%

-1.28%

Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a

2.55%

0.96%

First Metro Save and Learn Money Market Fund, Inc. -a 1.0571 0.95% n.a. n.a.

131.07

1.11%

0.86%

Sun Life Prosperity Peso Starter Fund, Inc. -a,1 1.3144

1.35%

1.51%

2.84% 2.63%

2.53%

Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0601

0.8%

1.46% n.a.

0.62%

Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d 1.3229

19.51% n.a. n.a. 17.11%

Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -a,d

$0.96

-2.04% n.a. n.a.

-2.04%

a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. d - in Net Asset Value per Unit (NAVPU). 1 - Renaming was approved by the SEC last July 8, 2021 (formerly, Sun Life Prosperity Money Market Fund, Inc.).

"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."

Agriculture/Commodities BusinessMirror

www.businessmirror.com.ph

Editor: Jennifer A. Ng • Thursday, December 9, 2021 B3

‘Truthful labeling to spur demand for local rice’ S

PECIFYING rice source in packages, box labels and price tags will help spur demand for the staple food produced by local farmers, according to an agricultural economist from the Philippine Rice Research Institute (PhilRice). Alice B. Mataia said “truthful labeling” will empower consumers to choose between imported and locally produced rice and to ensure food safety. “Demand for local rice may spur when more consumers are able to spot local rice and buy it over imported ones. This will [then] encourage rice traders to source their supply from local farmers,” she said in a statement. PhilRice noted that the local government of Nueva Ecija—the country’s rice granary—is the first province to enact an ordinance on the truthful labeling of rice based on the recommendations of the Department of Agriculture (DA)-PhilRice Policy Research and Advocacy team. Mataia, who is also co-lead of the DA-PhilRice team, said the ordinance requires rice retailers to indicate valid, reliable, and complete information about the prescribed milling classification, price, and source of rice (local or imported) on rice sacks, box labels, and price tags. The ordinance indicates that labels should follow the guidelines in the Philippine National Standard on Grains—grading and classification—paddy and milled rice. It also states that price tags should be used in labeling retailed unpacked

rice. Under the guidelines, the tag’s size should be 21.5cm x 16.5cm (length by width), while the tag’s color should be light yellow for premium grade rice, and white for wellmilled and regular-milled rice. The price tag should also be printed with information on price per kilogram, classification, and grade in black bold letters and figures except for the unit symbol “kg.” The prescribed color-coded price tags should also be conspicuously displayed on the grains’ box. The ordinance detailed that unpacked milled rice for retail must be displayed in wooden rice boxes painted with food grade or non-toxic white paint, and free of posters and advertisements.The boxes should be covered to prevent rice from being exposed to pests and other contaminants. It also specified that “rice sacks should only be labeled as regularmilled, well-milled, premium, and special. The prescribed colors of rice sacks are white for ordinary rice varieties, light yellow for premium varieties, and sky blue for special varieties.” Premium grade rice is the highest grade based on the prescribed national standards. Meanwhile, well-milled rice are rice kernels from which the hull, germ, outer bran layers, and the greater part of the inner bran layers have been removed but parts of the lengthwise streaks of the bran layers remain in less than 20 percent of the kernels. Regular-milled rice are almost similar with well-milled rice

PHOTO from www.philrice.gov.ph

but parts of the lengthwise streaks of the bran layers remain in 20-40 percent of the kernels.

NFA guidelines

ACCORDING to Mataia, the National Food Authority (NFA) issued guidelines on the prescribed labeling of rice boxes and price tags in 2018; however, the Rice Tariffication Law repealed NFA’s regulatory functions

including its role to enforce the national grains standard. The Bureau of Agriculture and Fisheries Standards then developed the Philippine National Standards on Grains—grading and classification—paddy and milled rice in 2019. She added that the Bureau of Plant Industry took charge of NFA’s functions through inspections and issuance of sanitary and phytosanitary

import clearances, but it does not cover the implementation of labeling guidelines in rice. “This lack of compliance due to the absence of an authority that enforces truthful labeling is one of Nueva Ecija’s reasons for enacting the ordinance.” As recommended by the team, a local task force (LTF) headed by the governor will be formed.

The LTF will set the general implementation guidelines and will ensure that the task force of all the cities and municipalities are doing their functions. City and municipal LTFs, which are to be created and convened by the mayor of each city or municipality, are mandated to promote, regularly monitor, and regulate rice box labeling and price tag practices of rice retailers; and inspect rice sold by rice retailers to validate their claims in rice box labels and/or price tags. They are also tasked to penalize, record, and maintain documentary evidence against violators; endorse compliant rice retailers to the provincial LTF for awarding of an Honesty Seal; and issue clearances to rice retailers for issuance of business permits. An Honesty Seal entitles a rice retailer, who has been consistently following the labeling guidelines for not less than six months, to a discount on fees. Violators will be penalized with a payment of P1,500 or suspension of business permit until fine is paid for the first offense, P3,000 and suspension of business permit until fine is paid for second offense, and P5,000 and revocation of business operations until compliance with the prescribed labeling for the third offense. The LTFs will be trained by the NFA and DA-PhilRice. PhilRice said the ordinance was approved by Nueva Ecija Governor Aurelio M. Umali on October 26.

BFAR finds red tide in coastal waters of Milagros Caraga farmers, fishers get assistance from govt

HE Bureau of Fisheries and Aquatic Resources (BFAR) said it found red tide toxin in the coastal waters of Milagros in Masbate. In its latest Shellfish Bulletin, the attached agency of the Department of Agriculture also warned the public against consuming seafood from areas that are still positive for toxic red tide. Based on the latest laboratory results of BFAR and local government units, shellfish collected from the coastal waters of Bataan (Mariveles,

Limay, Orion, Pilar, Balanga, Hermosa, Orani, Abucay and Samal); coastal waters of Dauis and Tagbilaran City in Bohol; Carigara Bay in Leyte; and the coastal waters of Guiuan, and Matarinao Bay in Eastern Samar remain positive for paralytic shellfish poison. Seafood and shellfish from Dumanquilas Bay in Zamboanga del Sur; coastal waters of Baroy in Lanao del Norte; Litalit Bay, San Benito in Surigao del Norte; and Lianga Bay in Surigao del Sur must also be avoided, according to BFAR.

“All types of shellfish and Acetes sp. or alamang gathered from the areas shown above are not safe for human consumption,” it said. “Fish, squids, shrimps and crabs are safe for human consumption provided that they are fresh and washed thoroughly, and internal organs such as gills and intestines are removed before cooking.” Eating shellfish products with red tide can cause paralytic shellfish poisoning (PSP), which can cause death. Early symptoms of PSP include tingling of the lips and tongue, which

may begin within minutes of eating poisonous shellfish or may take an hour or two to develop. Depending upon the amount of toxin a person has ingested, symptoms may progress to tingling of fingers and toes and then loss of control of arms and legs, followed by difficulty in breathing. If a person consumes enough poison, the muscles of the chest and abdomen become paralyzed. Death can result in as little as two hours, as muscles used for breathing become paralyzed.

Asia is largest user of plastics in agri production–report

SIA is the largest user of plastics in agricultural production, accounting for almost half of global usage, according to a report by the United Nations’ Food and Agriculture Organization (FAO). The report, titled “Assessment of agricultural plastics and their sustainability: a call for action,” is the first global report of its kind by FAO. According to data collated by the agency’s experts, agricultural value chains each year use 12.5 million tons of plastic products. A further 37.3 million tones are used in food packaging. The crop production and livestock sectors were found to be the largest users, accounting for 10.2 million tons per year collectively, followed by fisheries and aquaculture with 2.1 million tons, and forestry with 0.2 million tons. “In the absence of viable alterna-

tives, demand for plastic in agriculture is only set to increase,” FAO said. Accordingtoindustryexperts,forinstance, global demand for greenhouse, mulching and silage films will increase by 50 percent, from 6.1 million tons in 2018 to 9.5 million tons in 2030. Such trends make it essential to balance the costs and benefits of plastic. Of increasing concern are microplastics, which have the potential of adversely affecting human health. While there are gaps in the data, they shouldn’t be used as an excuse not to act, FAO warned. “This report serves as a loud call to coordinated and decisive action to facilitate good management practices and curb the disastrous use of plastics across the agricultural sectors,” FAO DeputyDirector-GeneralMariaHelena Semedo said in the report’s forward.

FAO noted that plastics have become ubiquitous since their widespread introduction in the 1950s. In agriculture, plastic products greatly help productivity. “Mulch films, for instance, are used to cover the soil to reduce weed growth, the need for pesticides, fertilizer and irrigation; tunnel and greenhouse films and nets protect and boost plant growth, extend cropping seasons and increase yields; coatings on fertilizers, pesticides and seeds control the rate of release of chemicals or improve germination; tree guards protect young seedlings and saplings against damage by animals and provide a microclimate that enhances growth.” Unfortunately, the very properties that make plastics so useful create problems when they reach the end of their intended lives.

The diversity of polymers and additives blended into plastics make their sorting and recycling more difficult. Being man-made, there are few microorganisms capable of degrading polymers, meaning that once in the environment, they may fragment and remain there for decades. Of the estimated 6.3 billion tonnes of plastics produced up to 2015, almost 80 percent has not been disposed of properly. “Once in the natural environment, plastics can cause harm in several ways. The effects of large plastic items on marine fauna have been well documented. However, as these plastics begin to disintegrate and degrade, their impacts begin to be exerted at the cellular level, affecting not only individual organisms but also, potentially, entire ecosystems,” FAO said.

HE Department of Agriculture (DA) said Caraga farmers, fishers, and local government units (LGU) received P159.6 million worth of financial assistance and agri-fishery projects from the national government. Government officials distributed the assistance in a ceremony held last December 7 in Prosperidad, Agusan del Sur. “The agency envisions a foodsecure Philippines with prosperous farmers and fishers. To do this, all programs and projects are aligned to the four pillars of the OneDA Reform Agenda: Modernization, Consolidation, Industrialization, and Professionalization will be in partnership with the LGUs,” Agriculture Secretary William D. Dar said in a statement. The DA said LGUs play a vital role in increasing productivity and profitability at the local level through agri-fishery extension services. Officials handed the Interventions Monitoring Card to the 1,844 Prosperidad rice farmers as they represent the 16,037 farmer-beneficiaries in the Province of Agusan del Sur. With a total amount of P81.3 million, eligible rice farmers tilling 2 hectares or less received P5,000 cash assistance that can augment farmers’ production needs. Fifteen farmers’/fishers’ cooperative and association (FCA) were

granted a working capital with a total amount of P9.7 million through the Enhanced Kadiwa ni Ani at Kita Inclusive Food Supply Chain Program. This will equip the FCAs as a reliable food commodity supplier to sustainably operate Kadiwa Retail Stores in their locality. The DA said the CARCANMADCARLAN Agri-based Multi-Purpose Cooperative (CAMPCO) in Cantilan, Surigao del Sur, Sumilihon-Taguibo Farmers Association in Butuan City, Bayugan Achievers Multi-Purpose Cooperative in Bayugan City, and the Cabadbaran City LGU each received one unit of refrigerated vans with a total amount P10.96 million. CAMPCO also received the Bangus Production and Marketing subproject amounting to P16.55 million under the DA-Philippine Rural Development Project Enterprise Component. The DA also turned over 14 units of recirculating dryers amounting to P37.3 million to LGUs in the region. The facility will be operated by the LGUs through their identified FCA. The recipients of the recirculating dryers are the following LGUs: Municipality of San Agustin, Marihatag, Lanuza, Madrid, Hinatuan, San Miguel, Tago, and Bislig City in the Province of Surigao del Sur, the Municipality of Prosperidad, Bunawan, Rosario, Talacogon, and San Francisco in the Province of Agusan del Sur and Cabadbaran City.

California’s drought threatens food production in 2022 C

ALIFORNIA farmers who struggled to make it through record-breaking drought and heat in 2021 are bracing for another bad year, this time without any additional water from the state. The state said it won’t give any water from the State Water Project to farmers unless drought conditions improve. That could mean even higher food prices at a time when consumers are struggling with an ongoing pandemic and

inflation across the board. “The carryover water that got a lot of farmers through this past year is gone,” said Mike Wade, executive director at the California Farm Water Coalition. Farmers will either have to pump groundwater, if they can, “or they’re going to be fallowing a lot of farmland,” he said. Drought conditions in 2021 already contributed to rising prices for some food products, Wade said. Prices for tomato paste and crushed tomatoes, for

example, increased 22 percent from January to April. This is the first time since a devastating drought in 2014 that California’s farmers have gotten a zero allotment for water from the state, said Ellen Hanak, vice president and director of the Public Policy Institute of California Water Policy Center. The state’s more than 69,000 farms and ranches supply over a third of United States vegetables and two-thirds of its fruit. The annual almond harvest accounts

for about 80 percent of global production. Farmers are now hoping for rain and snow. California has had only one major storm this season, Wade said, but the state needs at least four more by spring in order to make a dent in the water deficit. “We’re not holding our breath,” he said. It can take time for land to bounce back from a significant drought. In November, “it rained substantially, but it didn’t fill

any reservoir cause the ground was so dry it immediately soaked the rain,” said Reese Tisdale, president of water-analysis company Bluefield Research. “You don’t rebound from a drought with one rain, sometimes it takes more than a year.” Some farmers are choosing to diversify and plant more longterm crops like nut trees, Wade said. But for almond farmers, drought means not only fewer nuts, but smaller, lighter ones, too, said Richard Waycott,

president and chief executive officer of the Almond Board of California. The lack of water could lead to a reapportionment of agricultural land in California over the long term, Waycott said. Farmers might migrate to safer areas where water is typically more available. “For a grower, it’s an existential issue,” Waycott said. “It’s the ‘can I survive another year doing this’ thing. It’s heart wrenching.”

Bloomberg News

Envoys&Expats BusinessMirror

Thursday, December 9, 2021

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Indian investors eye Baguio as investment hub

AGUIO CITY—Indian investors from different sectors are betting on the Philippines as a viable investment destination.

Ambassador Shambhu S. Kumaran was the guest of honor of the Philippine Economic Zone Authority (PEZA), as the latter promoted the country to a delegation from the India Business Forum Philippines Association Inc. (IBF) for an investment-promotions tour from November 26 to 30. The group visited the City of Pines, as they believed its economic potential, climate and natural attractions will be an advantage for both foreign and local investors, being an option for future investments. Aside from the tour, the government agency—through its Director General Charito Plaza—conducted the “Global Biz with PEZA” event which featured India on the third day: the 13th in a series of forums for this year. Some Indian companies have already expressed their interest to locate and even expand their operations in the northern part of the

country. Moreover, they are also expected to invest through PEZA and help in the transfer of technology, generation of jobs, as well as increase the economic activities of locals. The event likewise encouraged companies to register in order to enjoy tax incentives being provided under Republic Act 7916, or the Special Economic Zones Act of 1995; and Republic Act 11534, or the Corporate Recovery and Tax Incentives for Enterprises—otherwise known as the CREATE Act. “[As] a ‘one-stop and nonstop shop,’ PEZA will definitely assist our investors in their applications, and also in looking for local partners for their investment activities,” assured Plaza. The government body also strengthened its collaborations with various groups to help bring investors to the country with the signing of a memorandum of understanding with the IBF, as it will partner with

Nitender Rao (Algorithm Solutions), Thumkesh Khera (Preventia Healthcare), Aparna Veera (Taskus), Rishi Pradhan (Conduent), Manan Mehta (Collabera), and Vikram Kochar (Shearwater), among others. First Secretary for Economics and Commerce Nishikant Singh from the Indian Embassy was overall coordinator.

Donations for Baguio

SIGNING of the memorandum of understanding between the India Business Forum and the Philippine Economic Zone Authority, witnessed by Ambassador Shambhu S. Kumaran (seated, center).

PEZA to promote the country’s economic potential to Indian investors.

Positive responses

THE tie-up is also in line with PEZA’s programs which seek to fully industrialize the Philippines and transform it into a self-reliant, selfsustaining, and resource-generating economy. Plaza also looked forward to increasing the number of registered companies under PEZA with the partnership and the positive responses from the Indian delegates. She reported: “There are 29 Indian

enterprises registered with PEZA to date. These companies contribute a total of P10.315 billion [worth of investments from] 1995 until September 2021. As of August 2021 these companies also employ 21,950 workers, and contribute $181 million [worth] of exports.” She believes “PEZA, India, and Baguio City’s strong [linkage will be vital in our plans for the recovery of the Philippines, and in furthering our economic ties].” For his part, IBF President Dileep Tiwari noted: “This partnership will pave the way for a new relationship

between [us and PEZA. Some of our] members are already interested to open an office in PEZA…zones. Also, [colleagues who are non-information technology-business process outsourcing, like those...from the pharmaceutical background, are also considering making the same move].” Senior IBF members at the event were Jaideep Pradhan (EXL Service), Pushkar Mishra (HGS), Shiju Verghese (TCS), Sanjay Vohra (Transrail Lighting), Animesh Jain (RM Chemicals), Venkatachalapathy Swaminathan (TVS Motor Comp.),

TO show their sincere appreciation for the province’s warm reception, the IBF donated motorcycles courtesy of Indian automobile firm TVS Motor Co. to Baguio City, Tuba, and the Baguio City Economic Zone. During a flag-raising ceremony at the Baguio City Hall Grounds, the IBF likewise handed over medical supplies, and also pledged to donate P4-million worth of medicines against the coronavirus disease 2019 (Covid-19) to the said local government unit (LGU). Mayor Benjamin Magalong acknowledged that they “will help us address [the new Omicron variant].” Meanwhile, Tiwari is certain the donation will aid the LGU in its fight versus the pandemic. Kumaran, for his part, also hoped more Indian medicines, which have “high efficacy rates in curing Covid-19, will be available [in] the Philippines.”

US CDA oversees medical donations, PRRD honors DFA personnel P visits eagle conservation in Davao City By Manuel T. Cayon

AVAO CITY—It was a busy day here for the United States’s Chargé d’Affaires (CDA) a.i. Heather Variava on December 3, as she witnessed her government’s donation of critical antipandemic facilities, then quickly visited a conservation program for the endangered Philippine Eagle. “I’m delighted to be here…This is my first trip to Davao City since arriving in the Philippines a couple of months ago,” Variava told local reporters at the sidelines of the turnover of 10 intensive-care unit (ICU) beds, four vaccine cold-storage units, as well as other medical equipment and supplies to Mayor Sara DuterteCarpio. Some of the equipment, such as the beds, will be sent to the Department of Health-managed Southern Philippines Medical Center, while the rest of the items will equip the city’s first 24/7, community-based pandemic response center: the Covid-19 Cluster Clinic in Doña Vicenta Village.

CHARGÉ D’AFFAIRES A.I. Heather Variava witnesses a vaccination drive with Mayor Sara DuterteCarpio (standing, third and fifth from left). TWITTER: @USAMBPH

Seven others will be opened soon. The CDA said the cluster clinics are part of a P26.4-million support by the US Agency for International Development (USAID) and the US Department of Defense (DOD) given to allow the Davao City Health Office work on a plan “to facilitate fast, accessible, and free [antipandemic] services by setting up eight cluster clinics in strategic locations,” then added the facilities will provide ef-

fective and efficient triaging, testing, contact tracing, monitoring and management of the pandemic. “These challenging times reinforce the strength of our partnership,” said Maj. Scott Holub, Special Operations Task Force 511.2 commanding officer. “Our [aid] to the Covid-19 Cluster Clinic represents our continued support to the southern Philippines in [fighting] the… pandemic. The donated refrigerators

bolster Davao’s efforts by providing the capacity to store 80,000 vaccines; while the ICU beds, for extended patient care.” The donations are on top of the P6.9-million ($138,600) worth of ICU beds and vaccine cold-storage units the US DOD donated to the country in recent months. Aside from those, Variava said the US has shipped close to 18 million vaccines to the Philippines through the COVAX facility, of which the US is the biggest donor at $4 billion. She said the US has contributed P2 billion to the country “for a variety of Covid-related programs—including testing, treatment, capacity-building and equipment such as ICU beds and freezers.” “As a friend, partner and ally, the US is one with you in fighting [the pandemic, while facilitating longterm initiatives that ensure health, peace, and prosperity in [this part of the] Philippines,” said Variava. On the same day the US Embassy official proceeded to the Philippine Eagle Center, which the USAID has likewise been supporting.

EU, UNICEF mark Intl Human Rights Day with webinar advancing learning, teaching

N celebration of Human Rights Day on December 10, the Delegation of the European Union to the Philippines, in partnership with the United Nations Children’s Fund (UNICEF), will hold “The Right to Equitable Access to Education: Learning Continuity in the Philippines Amid Covid-19” webinar on December 9 at 10 a.m. and will be streamed live on the EU in the Philippines Facebook Page. The right to education—recognized in international instruments such as the UN Convention on the Rights of the Child and in the EU, the EU Charter of Fundamental Rights—has been hampered worldwide because of the pandemic. It has exacerbated pressing learning issues in the Philippines, and threatened to widen further the gaps in education. Many children and young Filipinos have experienced severe and long-

term effects of prolonged in-person learning disruptions, while others are struggling with distance learning. The virtual dialogue aims to answer the question: “How do we move toward the future of learning and teaching?” The two-hour activity will provide a platform to discuss learning continuity in the Philippines during the public-health emergency, ways the country will move forward to resuming in-person classes and ensure equitable access to quality education for all children. The event falls under the EU’s and UNICEF’s advocacy for the rights of children to have access to education despite the contagion. “The...pandemic has had a major impact on children: from education to sexual exploitation and abuse,” said EU Ambassador Luc Véron. “More than ever, the EU is at the forefront [of upholding] the rights of

children, and this will remain one of our human rights’ top priorities for... years to come.” “I look forward to the resumption of in-person classes, [as well as continue] to exchange views and best practices on how the EU and the Philippines ensure learning continuity,” Véron added. “[The pandemic] is a child-rights crisis. We at UNICEF stay committed to providing the support needed to safely resume in-person classes and successfully implement the Department of Education’s (DepEd) learning continuity strategy,” said UNICEF Country Representative Oyunsaikhan Dendevnorov. “Together with our partners, relevant agencies and stakeholders, we continuously work to provide a better and brighter future for our children.” Véron and Dendevnorov will deliver the opening messages dur-

ing the webinar. Ambassadors Jana Šedivá (Czech Republic) and Juha Pyykkö (Finland) will provide the European perspective. Panelists who will discuss the transition to in-person classes and the future of education are Roger Masapol, director of DepEd’s Planning Services; UNICEF Philippines’s Chief of Education Isy Faingold and Health Specialist Mariella Castillo; National Philippines Parents-Teachers Association President Willy Rodriguez; Regional Subcommittee for the Welfare of Children’s student leaders Aujel Orosco (Region V) and Lien Wence Castro (Region VI); as well as Aral Pilipinas Lead Convenor Regina Sibal. Interested parties may register via https://forms.gle/vPD8QyEvdTrbJ6gc8. Further updates are available at the @EUDelegationToThePhilippines on Facebook.

RESIDENT Duterte recently bestowed presidential honors, namely the “Order of Sikatuna” and “Gawad Mabini,” on the Department of Foreign Affairs’ (DFA) most exemplary public servants who performed outstanding work for the country. Among the highest-reserved distinctions for the Philippine foreign service, the Order of Sikatuna is a diplomatic merit conferred upon Filipinos who have rendered exceptional and meritorious service to the Republic of the Philippines, while the Gawad Mabini is awarded to those who have provided distinguished foreign service, or helped promote the country’s interests and prestige abroad. The Chief Executive recognized the following: Jose Manuel G. Romualdez—ambassador extraordinary and plenipotentiary to the United States of America: the Order of Sikatuna with the Rank of Datu, Gold Distinction. His continuous engagement with the US has enhanced defense and security cooperation between the two countries. The envoy’s initiatives to promote trade and investment in the Philippines resulted in increased networks and opportunities, and his active pursuit to procure vaccines was an essential element in the national response to the pandemic. Enrico T. Fos—former assistant secretary of the Office of the Undersecretary for Migrant Workers’ Affairs, and current ambassador extraordinary and plenipotentiary to Norway: Gawad Mabini, with the rank of “Dakilang Kamanong,” or Grand Cross. He led the pandemic-response operations of the DFA—particularly the mass repatriation of affected overseas Filipinos. Fos was instrumental in the operations of the One-Stop Shop on procedures and policies relative to inbound passengers, as well as in the provision and implementation of mandatory health protocols upon arrival at the Ninoy Aquino International Airport. Robert Eric A. Borje—detailed at the Office of the President as chief of presidential protocol, and presidential assistant on foreign affairs: Gawad Mabini, also with the rank of “Dakilang Kamanong,” or Grand Cross. He was key in facilitating with the Kingdom of Bahrain the repatriation of two undocumented Filipino infants in December 2019. Serving as the president’s special envoy on numerous occasions, Borje was able to highlight Duterte’s commitment to foster bilateral ties with countries in the Middle East; and the protection of all overseas Filipinos therein. Noel M. Novicio—executive director and deputy assistant secretary of the Office of Asean Affairs: Gawad Mabini, with the rank of “Dakilang Ka-

sugo,” or Commander, for his years of dedication, outstanding achievements, and leadership in Asean’s international multilateral negotiations. During his tenure as deputy permanent representative to Asean at the Permanent Mission of the Philippines to Asean in Jakarta (2013 to 2020), he was lead negotiator of the country with the region’s dialogue partners on leaders’ or ministerial-level outcome documents, statements, declarations, and plans of action. Novicio’s knowledge and expertise of Asean issues make him one of the most respected negotiators in the regional context. Katrina Isabelle H. Borja-Martin—former first secretary and consul at the Philippine Embassy in Washington, D.C., and current director at the Office of American Affairs: Gawad Mabini, with the rank of “Dakilang Kasugo,” or Commander, for her successful negotiation efforts to supply the Philippines between 15 and 20 million doses of the Moderna vaccine. Moreover, through Borja-Martin’s effective presentation of the Philippines as a potential investment destination, she was also able to facilitate investments in the country—including those for clean energy and technology. Bernardo G. Bagalay—former assistant at the Office of the Undersecretary for Migrant Workers’ Affairs, and now cultural officer and consular assistant at the Philippine Consulate General in Barcelona, Spain: Gawad Mabini, with the rank of “Kasugo” or member, for his membership in Libya’s Rapid Response Team in 2019, which helped allay overseas Filipinos’ fears and apprehensions in the said jurisdiction. Further, in 2020, Bagalay’s presence during the arrival of the first batch of 40 overseas Filipinos from Wuhan, China in Clark Philippine Airforce Base was the beginning of the organized and systematic assistance provided to returning overseas Filipinos. Antonio B. Villar—former Assistance-to-Nationals officer at the Philippine Embassy in Rome, Italy, and current administrative officer at the Office of the Undersecretary for Multilateral Affairs and International Economic Relations: also with Gawad Mabini, with the rank of “Kasugo” or member, for his indispensable assistance in the repatriation of 11 Filipino seafarers who were stranded at Duress Port in Albania after being abandoned there for five months. Villiar was also instrumental in the successful repatriation of five overseas Filipinos working in Patos, Albania who suffered in the hands of unjust employers. The DFA lauds the honorees for their singular commitment to public service.

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Hitting kids is no way to discipline them BY ANN GUSTAFSON & HOWARD DUBOWITZ The Associated Press IN a policy statement, the American Academy of Pediatrics aims to end the debate over whether corporal punishment is an acceptable parenting tool. The verdict? It’s not. “Corporal punishment is associated with increased aggression in preschool and school-aged children,” write Drs. Robert D. Sege and Benjamin S. Siegel, coauthors of the statement. Not only that, “experiencing corporal punishment makes it more, not less, likely that children will be defiant and aggressive in the future,” they say. Corporal punishment can affect children’s longterm health, too. New evidence from brain imaging suggests that it slows brain development. Other studies have found that harsh punishment causes elevations in the stress hormone cortisol, which may explain poorer overall health associated with corporal punishment. Hitting is also ineffective in teaching a child responsibility and self-control. It can convey a dangerous message: when someone does something wrong, hit them. In this way, children who are hit are more likely to hit their peers and hit their own children when they become parents. A study showed increases in suicide attempts, moderate-to-heavy drinking and substance use disorder in adults who were spanked as children, effects similar to other adverse childhood events like witnessing domestic violence or having an incarcerated parent. Despite all this evidence, corporal punishment remains widespread and deeply ingrained in American culture as a deterrent for misbehavior—“spare the rod, spoil the child.” It’s worth noting that 54 countries around the world have banned corporal punishment, including Brazil, Kenya and Mongolia. But that may be changing. Surveys show a significant decline in parents who say that hitting is necessary or good for children. This is especially the case among parents 36 years old and younger. There appears to be a generational shift away from spanking. But abandoning spanking doesn’t mean no discipline. The word “discipline” is derived from the Latin “to teach.” Discipline is critical for healthy development in childhood. Kids need limits, rules and routines. As children learn to cope with their environment, parents play a critical role of teaching them to navigate this world. But there are better ways to teach children self-control than through hitting. Responding constructively to children’s behavior can be challenging, but a few steps can make a big difference. First, stay calm. Take a step back and breathe a deep breath. This gives you the chance to consider why you are responding this way. To be a good teacher, which is at the heart of parenting, we need to be in touch with ourselves. Second, try to understand your child’s behavior. It is appropriate for children to express emotion, anger or disappointment, perhaps by crying. Parents can talk with their child and support them in calming down. Praise can be extraordinarily effective in curbing bad behavior. Children want their parents’ approval, and praise is more powerful than punishment in encouraging good behavior. Catch her being good! And children can be forewarned of the consequences for bad behavior, such as not being able to enjoy a privilege (a favorite TV show for example). Then, the consequences need to be implemented, consistently and promptly, by all those caring for the child. “We know that children grow and develop better with positive role modeling and by setting healthy limits,” says Sege. “We can do better.”

Editor: Gerard S. Ramos

Simplifying parenting ERICA CABAYAN with her family.

S we slowly reopen and rebuild our lives under the so-called New Normal, I hope to continue to provide more tips and concrete inspirations in simplifying our parenting life. Erica Cabayan is a mom of two sons and comes from a dual career household. She has worked with P&G for 13 years. Her humble beginnings started in Cebu where she first worked as a truck seller, then started selling to sari-sari stores, working her way up to becoming a supervisor and now a director. I was lucky to have been given the chance to interview her. What are the mindsets you can share that you use in raising your two boys to parents of today? First, be at peace with the choices you make. This had always been my mantra, especially when I became a first-time mom to Pio. You won’t get to be everything to everyone and do everything you want to do, and that comes with choices and decisions. And when you do make those choices, follow through completely—don’t do it half-heartedly. If I choose to be with my family, I’ll be there 100 percent and not think of or do any work on the side. Second, ask for help. It’s true when they say it takes a village to raise a child. And I mean this both personally and professionally. We’d ask help from our parents when sudden childcare is needed. We’d ask help or tips from fellow parents with children of the same age. Professionally, I’d ask help from my manager, peers, direct reports if I need to attend to something urgent at home, or if there are certain schedules that I’d like to be kept sacred. Third, there will be bad days and that’s okay. This mindset is still a work in progress for me. I believe my two boys are the loveliest little human beings on Earth, but sometimes there are days when they can be so frustrating. These bad days take a heavy toll emotionally, but I just constantly remind myself that it’s going to be OK with the help of everyone around me. Being in a dual-income household, are there any tips you can share on how your husband and yourself share roles and responsibilities in managing the household and raising your kids? Rocky, my husband, is the most hands-on dad in raising our children and I am so grateful for that. In the two months since we had Caio, our second child, he’s been in charge of diaper changes, taking the “first shift” during the night, and focusing on Pio’s online schooling every morning, to name a few. Some tips I can share: 1. Leverage on strengths and personalities. For example, Rocky is more organized than I am, so he’s in charge of overall household upkeep—budget management, bills payment, groceries, etc. I’m a picky eater, so I am in charge of the daily menu. 2. Align on needed “me time” and adjust schedules and responsibilities around them—example, playing video games for me while he takes Pio to the park, jogging for him while I take care of the boys at home, etc. 3. Support each other completely in both career

and personal aspirations—both of you matter, and both are as important. 4. On disciplining our four-year-old—work together and have a united front when he needs to be disciplined but agree to disagree in private. We have open discussions on how we want to raise and discipline our children, and sometimes we disagree on certain things and those are discussed and resolved in private. As to having attained one of the highest-ranking positions in P&G, how were you able to do this while building a family? Rocky is my biggest supporter in both my career and building a family, and I think this is the most important part. At work, it goes back to asking for help from the company when needed. I think I benefitted from the women in leadership roles before me whom I’d seen as I “grew up” in P&G. Throughout every life stage, the company has always supported me and my goals and priorities. It’s especially important to be clear on what those are and make sure your manager

is aligned and aware. My manager was my biggest ally. In every conversation with my manager, there would always be a discussion on personal life goals, not just a career discussion. I am happy that P&G is a great enabler of this, and more women and mothers like me can show up in the workplace to lead. Lastly, what top tips you would like to impart to today’s parents in raising their kids as 21stcentury learners? Learn and adapt with them. A lot has changed in the educational set-up, especially given the pandemic, and we are all learning with them to adjust and cope to the new normal. Also, have a “flexible routine.” Encourage and nurture their changing interests. For us, our son’s general daily routine would be wake up, school, lunch, nap, play time, dinner and bedtime. Within this routine, we would be flexible on what play time would be—riding his bike, playing with his magnetic tiles, shooting a basketball, etc., depending on what interests him that day. ■

The top toys for Christmas-gifting

WIZARDING World adventures await you with this Magical Minis Ron and Ginny Weasley Friendship Set.

• Thursday, December 9, 2021

BRING the magic of Christmas to your home with toys your kids will wish for, love and hug. Thinking of what will bring so much joy to the little ones? Popular retail destination Toy Kingdom (www.toykingdom. com.ph) lists its Top Toys for the holidays. There are the gift sets from well-loved brands—Barbie, Peppa Pig and LOL—that will bring a big smile to both big and little girls; as well as DIY toys for Pretend Play like GO Glam U-nique Nail Salon. Other great stocking-stuffers: surprise toys from Itty Bitty Pretty Tea Party, LOL and Present Pet pup that will be in any child’s wish list. Toys inspired by your kids’ favorite TV shows such as Cocomelon, Blippi and blockbuster movies such as Harry Potter Wizarding World and Jurassic World will transport them to the world of make believe. Have fun playing Santa as you complete the list. The retail giant offers not only Call to Deliver services at 0917-5578797 but also a personal shopper to assist you and your kids in selecting their must-haves.

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FUN with Funko Pop! Marvel Eternals characters Thena, Sprite and Gilgamesh.

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VTECH Touch and Learn Activity Desk for toddlers

B6 Thursday, December 9, 2021

Leo Burnett shines in Publicis Groupe Philippines’ big night, bags 3 awards at 2021 Kidlat Awards

KargaX launches trucking mobile app technology for interisland shipments

FTER a pandemic hiatus, the 4As of the Philippines recently honored the country’s best campaigns in its premier creative show, Kidlat Awards. In an unprecedented feat, Leo Burnett Group Manila won 3 of the night’s 4 Grand Kidlat Awards. Its McDonald’s “Story of Us” film topped the Creative Storytelling category. While its “McClassroom” campaign ruled the Creative Purpose and Creative Technology & Media categories. These works propelled McDonald’s to clinch the Advertiser of the Year Award. Overall, Leo Burnett won 3 Grand Kidlat Awards, 5 Golds, 1 Silver and 2 Bronzes for various McDonald’s and P&G campaigns. Other Publicis Group Philippines agencies also figured prominently in the show. Publicis JimenezBasic won 2 Silvers and 3 Bronzes for their work on Lazada, Globe and Monde Nissin. Digitas, established only a year ago, racked up 2 Silvers and 3 Bronzes for its Wyeth work.

Making the night more special was the elevation of Publicis JimenezBasic’s ECD Trixie Diyco to the Creative Guild’s Hall of Fame. Meantime, Leo Burnett’s Trinee Altamirano and Gabrielle Santos, as well as PJB’s Louis Paulo Ayson and Jennifer Mandia were chosen for the Google Young Creatives Incubation Program via the 4A’s Jam for Good competition. These latest recognitions add to Leo Burnett Manila’s dominant performance in the digital-centric Boomerang Awards and the creative purpose-driven Asia-Pacific Tambuli Awards this year.

St. Peter launches full-service deathcare online store

ARGAX, one of the country's first trucking web and mobile platforms formally launched recently. Kristofer Montebon, KargaX president, said the platform is designed to connect shippers to multiple carrier options and vice versa. This gives the shippers the most cost-effective solution and the truckers a more optimized trip. “We've seen use-cases where truckers traverse the Philippines with cargo on the forward and backload and shippers saving 10-30% of the shipment costs by finding the right truckers,” Montebon added. Montebon’s 12-year experience in technology and startups - from Ninja Van, Lalamove, Transportify among others - is focused on the logistics industry as he believes, that “everything from food, fuel to construction materials hinges on an efficient supply chain”. According to a study by the Asean German Technical Cooperation in 2018, 56% of delivery trucks from Manila to the provinces return under-optimized or empty while 35% of that outbound of Metro Manila returning to their base in the provinces are under-optimized or

empty. Montebon believes innovations like the KargaX platform can solve one of the most persistent problem of “Empty Miles” in the industry. This adversely affects not just the truckers but the shippers, as well as they, get charged for the two-way trip. He saw the need to create a freight matching mechanism to encourage wider use of available logistics management solutions and coordinate supply and demand. He sees opportunities, as the transport industry is projected to grow at an 8% compounded annual growth rate according to the Philippine Statistics Authority. Montebon said, “The pandemic has given impetus to develop the technology to optimize the price for shippers and maximize the load for carriers. In some of our use cases, this resulted in a 10 percent to 30 percent reduction in transportation costs for the shippers” he said. KargaX has sales and operations team all over the Philippines located in NCR, Cebu, Bacolod, Davao and Cagayan de Oro (CDO). KargaX’s stringent accreditation process for truckers guarantees that truckers booked from the platform are

legitimate companies. A trucking company may also enroll multiple vehicles and drivers seamlessly through the app. They need to upload photos or take pictures of the vehicles and other requirements. The KargaX team will review the enrolled vehicles and approve them within an hour. Once approved, the trucking company can assign that vehicle to bookings. “We are integrated with Google maps for a more seamless routing. Clients can choose vehicle type, input cargo details, and their budget. The operator receives notifications through SMS and in-app about a booking and offers prices to the client through the app. They can chat and negotiate with the client,” he explained. Once the client accepts the offer, the trucker can assign a vehicle and the driver and will be able to track the pick up and delivery address of the shipment in real-time through the driver's phone. Both the trucker and client may also track the shipment in real-time. The information on the assigned vehicle such as plate number, model, and driver information will be visible to the client.

T. Peter Life Plan and Chapels (St. Peter) has just launched live on its official Facebook page its eStore, the country’s first and only full-service deathcare online store. Even before the pandemic happened, the deathcare provider already started working on creating the e-commerce site as part of its digital transformation in response to a world that’s rapidly turning digital. The transformation is seen to help the company adapt to the changing customers’ expectations and preferences in the new normal. “We recognized the need to engage our current plan holders and reach prospective clients in the digital space, and one way to do this is to launch an online store that will cater to our customers. It’s the goal of the St. Peter Group to help and make it easy for the Filipino Family to plan ahead so that they can enjoy life more, thus, the creation or St. Peter eStore. With St. Peter, we always live by our commitment to serve our clients fully with integrity, excellence and compassion. Makakasigurado kayo

na kahit saan, kahit kailan, St. Peter maasahan.,” (Jonathan Vitangcol, SVP and COO – St. Peter Life Plan) ,” said. The St. Peter e-commerce site www. online.stpeter.com.ph is where customers can get all the necessary information on the plan that suits their needs. They can conveniently purchase and pay online for the company’s affordable preneed traditional and cremation plans. Customers can choose several payment options, and track and update their plans. “The site has a variety of important features and functions to support our agents in selling and marketing to the new emerging digital market segment. It’s our way to further empower our sales team to help the Filipino family plan ahead by inviting them to visit the eStore,” said Mr. Vitangcol said. Check out St. Peter’s products in their new e-commerce site, visit their website at https://www.stpeter.com.ph/, and follow them on their official Facebook page at https://www.facebook.com/ stpeterlifeplanandchapels.

Take a pause from the discomforts of menopause with Neufemme

ENOPAUSE is a natural part of the aging process that women will have to go through eventually. It is a transitional stage in a woman’s reproductive life, a stage where your once-regular period will suddenly be irregular before reaching a full stop, thus marking the end of a woman’s childbearing years. More than that, this stage may also be marked by a lot of discomforts; from hot flushes or a sudden feeling of warmth that spreads from the chest, neck, and face - to vaginal dryness that

may cause itching, soreness, and burning sensations. Menopausal women may also experience psychological symptoms, conditions that can take a toll in personal relationships due to mood swings and irritability. Various vasomotor symptoms especially at night may also disturb your sleep cycle, making it challenging to achieve a good night’s sleep. The changing estrogen level of the menopausal woman also makes her prone to different health conditions like Urinary Tract Infections, it also increases

the possibility of having Osteoporosis and Cardiovascular Conditions like heart disease and stroke. But don’t despair, Science has come a long way in terms of assuaging the discomforting symptoms of menopause. Neufemme, an herbal dietary supplement for women that contains herbal extracts derived from Mung beans and Eucommia ulmoides. This Singapore-made supplement may help lessen the discomforts caused by perimenopause and menopause, clinically proven effective in reducing the vasomotor symptoms, with 90% of trial participants experiencing fewer hot flashes, 77% experiencing fewer menopausal symptoms, and 79% experiencing reduced emotional distress. Neufemme has a unique mechanism of action and has also been proven effective to provide 7-day quick action relief. Just as important, Neufemme is safe and is not toxic to the liver. Bring balance back into your body–Neufemme, the natural way of managing and relieving the signs and symptoms associated with perimenopause and menopause. Available online via www.mypharma. ph and www.goodwill. market.

HOLIDAY HUGS AT THE SM MALL OF ASIA. A giant teddy bear topiary surrounded by blooming poinsettias hugs a stack of red Christmas balls to celebrate the love and joy Christmas brings at the SM Mall of Asia Atrium. Inspired by a classic European English labyrinth garden, the mall’s Christmas centerpiece has picturesque winding paths that filled with poinsettias flower beds, huge bear-shaped topiaries, and timeless giant Nutcracker figures. It is highlighted by a 60 foot giant Christmas tree dazzling with gold Christmas balls and berries accented with 40,000 color changing LED lights.

Editor: Anne Ruth Dela Cruz

Health&Fitness BusinessMirror

Don’t panic but prepare for Omicron, Pinoys told

By Rory Visco Contributor

hen many thought the Delta variant was the end of it, here comes the Omicron variant, which supposedly originated in South Africa. It is touted to be more deadly than other variants in terms of transmissibility and severity, though these are still to be clearly determined.

As some experts believe, the looming arrival of Omicron is not really a question of “if ” but of “when” even if there is no Omicron case yet in the country. So, is Omicron a bad omen for the Philippines? During the recent webicon on the new Covid-19 Omicron variant, which was organized by the Cardinal Santos Medical Center titled “How Do You Solve a Problem Like Corona,” several prominent experts gathered to share their thoughts about this new and potential menace, its challenges and prospects. Prof. Ranjit Singh Rye, Associate Professor, Department of Political Science of the University of the Philippines (UP) and a fellow of the OCTA Research Group, said OCTA’s outlook for December is positive and optimistic based on very good data and trends, which point to Covid-19 being on a decline not just in the National

Capital Region (NCR) but in the whole country. “Cases have gone down by double digits, positivity rate in NCR is at an all-time low at 2 percent for the whole country, which is quite low, he said. Covid wards in hospitals have lesser patients and are operating at normal capacity. This is the basis of OCTA’s outlook,” he explained.

New variant for concern AS for the Omicron, the new variant of concern, it should not be a cause for panic, he emphasized. According to him, there is still much to learn about the real threat of Omicron so focus should be on the best science that works, which is vaccination and vaccines, observing minimum public health standards. “The best science is telling us is this works, and also of our past experience with other variants and the Delta. When Omicron

arrives, and with our vaccination rates, we are now a more prepared nation. The worst that can happen to us now is being over-confident. We should be vigilant in order to enjoy a safe Merry Christmas,” Rye stressed. Looking at the numbers, Dr. Guido David, UP professor and scientist and OCTA Research fellow, said the number of Covid-19 cases have really dropped, a seven-day average (November 26 to December 2, 2021) of 551 new cases per day in the country compared to 1,635 for the same period last year, and only 138 for the NCR compared to 416 last year, also for the same period. “The NCR now is classified as very low risk since the metrics [reproduction, average daily attack rate, healthcare utilization rate, positivity rate] show very low numbers,” Dr. David said.

Outlook AS for the outlook regarding Omicron, Dr. David said there’s not enough data yet about it, and while it may be more transmissible than Delta, vaccinations may help reduce transmissibility. “Preliminary data shows that vaccines are very effective in reducing the severity of infection, initial analysis shows a low threat of surge in the NCR, given the available data, or worst a slight surge. However, provinces with low vaccination coverage may be vulnerable to surges and lockdowns,” Dr. David said. For Rev. Fr. Nicanor Austriaco, O.P., a University of Sto. Tomas College of Science professor and also OCTA Research fellow, Covid variants, like Omicron, have dif-

ferent spike proteins. “W hat experts are worried about is that because so many changes have happened to Omicron’s spike protein, vaccines developed against the spike protein may not be as effective,” Fr. Austriaco explained. Fr. Austriaco pointed out that while Initial data from South Africa indicated that Omicron is highly transmissible, many of the cases were mild. However, he added that we cannot really know how acute the variant is until after a few weeks. So, how should the country prepare against Omicron? “We have to prepare as we prepared before,” he commented. He suggested that the country prepare i n f r a st r uc t u re a nd i nc re a s e healthcare worker capacity, vaccinate and boost as fast as possible, increase population immunity around global gateways such as airports. “If we provide a wall around our airports, it will be difficult for the people who arrive with the virus to penetrate the population.” Lastly, he suggested to procure anti-viral drugs such as Paxlovid (Pfizer) and Molnupiravir (Merck) to further decouple cases and hospitalizations. “The advantage of drugs is that they are equally effective against all SARS-CoV2 variants. Recent data have shown their efficacy and in preventing people from going to the hospital. Though expensive, hopefully, for developing countries, the companies will provide a discount. I am hoping they will be provided because these drugs will really be game changers,” Fr. Austriaco pointed out.

Thursday, December 9, 2021 B7

After Covid vaccine, time to get your flu shot—expert By Claudeth Mocon-Ciriaco

hile the country’s Covid-19 cases are going down because of mass vaccination, an infectious disease expert advised the younger generations to still take extra safety precautions because they could get infected with the flu and chances of transmitting the virus is higher among their age group. “Flu transmissions are usually from children and the youth. It spreads fast in schools and public places where they usually frequent. Someone sneezes and everyone’s at risk. Then they go home, hold the door knob, touch the TV remote, get a plate without washing their hands. And before we know it, the flu virus has taken over the home,” Dr. Remedios Coronel said. Dr. Coronel gave the piece of advice on an online show titled “Okay, Doc” that aside from hygienic measures, the whole family should be vaccinated against the f lu after completing their Covid vaccines to ensure that everyone has an extra layer of protection thus, reducing the risks of our elderly to infectious diseases. “While you need to encourage your Lolo and Lola to get vaccinated against the flu, you also need to get vaccinated against it since you regularly go out of the house. By getting the flu vaccine, you protect yourself and your loved ones. Make sure to get the quadrivalent flu vaccine for

broader protection,” Dr. Coronel quipped.

Health education For its part, the local government units launched one-on-one health education consultations so that the correct information will be disseminated about vaccines. A c cord i n g t o D r. Ly n ne t t e Gemperle, Chief of the Integrated Non-Communicable Disease Prevention and Control Office of the Manila Health Department, they have 46 health centers in Manila which regularly update their Facebook pages regarding their vaccine services. Because of this, 73 percent of Manila’s senior citizens have been vaccinated against the flu for free. The Department of Health started their free flu vaccination program for indigent senior citizens in 2011. Under the National Policy on Health and Wellness Program for Senior Citizens or HWPSC, the scope was expanded to include all senior citizens in the country. Dr. Gemperle said that they still have a long way to go because they have to encourage the younger generations, parents, uncles and aunties, also those with comorbidities to get their flu vaccines as soon as possible. The public can get their flu vaccines from different health clinics while seniors can get their free flu vaccines from health centers nearest them.

Seiryu Japanese pharmacy system now in the country

Car-Free Sundays back in Pasig’s Emerald Ave

eing physically active has many health benefits while being physically inactive is associated with cardiovascular diseases, dementia, type 2 diabetes, breast and colon cancers and stress and anxiety. One study in Europe found that people who get insufficient exercise have a 20 to 30 percent increased risk of all-cause mortality compared with people who exercise for 30 minutes a day. To promote a healthy lifestyle and lessen carbon footprint in one of the busiest cities in Metro Manila, Barangay San Antonio, Pasig (BSA) has relaunched its “Car-Free Sunday” along a street located in the heart of Pasig City’s Central Business District. “It also promotes a healthy lifestyle by having a decent place to do your outdoor activities and provide an open space for the public because parks in Pasig are limited,” BSA Chairman Raymond Lising said.

Public clamor

LISING stressed that the clamor of the people wanting to do physical activities outdoors pushed them to relaunch the program following the easing of restrictions in Metro Manila. On November 21, BSA reimposed the Car-Free Sunday as the quarantine alert level of the National Capital Region (NCR) was downgraded to Alert Level 2. This means that Emerald Avenue will be off-limits to motorized vehicles from 6 a.m. to 6 p.m. With this, the 500-meter stretch of Emerald Avenue—a typically busy street during weekdays—was transformed into a recreational space where people are free to jog, bike, and do Zumba. Lising said that the Car-Free Sunday seeks to diminish the carbon footprint particularly along Emerald Avenue, which is their small contribution to save the environment. The carbon footprint is the total

greenhouse gas emissions caused by an individual, event, organization, service, place, or product, expressed as carbon dioxide equivalent.

Healthy living MOREOVER, the BSA chairman said the road closure also aims to promote healthy living to residents by giving them space to exercise and other physical activities for their wellness amid the Covid-19 pandemic. Lising said their barangay has also deployed health and safety officers to man the area and ensure that all minimum health protocols are being strictly followed. “We have deployed safety officers along Emerald Avenue. They are ensuring that all health protocols such as social distancing and the wearing of face masks are being followed,” he emphasized, stressing that the number of people in the area is also being strictly monitored by the barangay.

Lising said Barangay San Antonio is the first to implement such an activity in Pasig City, and it has since been replicated by other cities to provide their constituents with an open space where they could relax and unwind during weekends. The village chief said that people can jog and bike around Emerald Avenue. As such, he said that they can also join in the free one-hour Zumba session of BSA from 8:30 a.m. to 9:30 a.m. There is also a weekend market with stalls that offer snacks and other refreshments, the chairman said. “We are now in the pipeline of expanding the weekend market especially this coming Christmas. We want to have a more organized weekend market,” Lising said, adding that more stalls will be added soon. He said that everyone is free to use the space during the Car-Free Day, but reminded the public to continue observing minimum public health standards. Claudeth Mocon-Ciriaco

Hi-Precision holds the world’s first blood lotto

o celebrate their 25th anniversary, leading diagnostic center Hi-Precision recently rolled out their latest campaign called ‘“Blotto.” Patients who have their blood tested starting November 8, 2021 to January 31, 2022 have the chance to win P250,000.00! Who would have thought that a blood test would become a lotto ticket? Joining is simple and easy! Go to

www.hi-precision.com.ph and retrieve and keep your CBC and platelet count blood test results. The second digit from the left of your White Blood Cells, Red Blood Cells, Hemoglobin, Mean Corpuscular Volume, and Platelet Count results will be your Blotto numbers. If they match the numbers picked during the grand draw, you win P250,000! And since we’re already in the Christmas season, it’s best to have you

and your loved ones’ blood checked before all the feasting begins! Check out this link to know if you’re qualified to join the Blotto https://www.hi-precision.com.ph/ newsroom/Blotto. You can choose to get tested in Hi-Precision clinics, or book a home service on their app. If no one wins in the draw, HiPrecision w ill be donating the P250,000.00 to Center for Health Improvement and Life Develop-

ment (CHILD) Haus. CHILD Haus is a charity organization that provides a home for indigent children with cancer. The Blotto was developed by Hi-Precision Diagnostic Centre in partnership with GIGIL, a leading independent ad agency. For inquiries, visit Hi-Precision’s Facebook page to see latest Blotto updates https:// www.facebook.com/ hpdiagnostics.

Seiryu Pharmacy

ur i ng t h i s pa nde m ic , health workers have been recognized as modern-day heroes. They are at the frontline of defense against the Covid-19 virus. But among the ranks of health workers in the country, the pharmacists are less recognized for their critical role in healthcare. They are more known as salespersons who dispense medicines at a drugstore. Not with Seiryu Pharmacy as it tries to uplift their image. “Pharmacists are health professionals specializing in the use of medicines,” says Seiryu Japan CoFounder and Seiryu Philippines President Cristine May Sy-Kaneko. “They are familiar with the chemical composition and mechanism of medicines, as well as the possible side effects of its usage. They dispense prescriptions and counsel patients on the safe and appropriate dosage of their medicines.” Recognizing the important role of pharmacists in helping customers get the best results from their med ications, Seir y u Phar mac y boasts of its signature Japanese Pharmacy System. This highlights the doctor—pharmacist relationship where pharmacists address patients’ concerns after they visit the Doctor’s clinic. According to Seiryu Philippines Business Consultant Eco Castro, it’s a unique concept in healthcare where doctors and pharmacists work together for the recovery and wellness of patients. “We are proud to claim that

Seiryu is the only pharmacy with a VIP Lounge in the country,” boasts Castro. “It is where the patients are given more privacy and personal consultation. We believe that the patients’ road to recovery becomes faster if they are in a more caring environment.” Founded by Japanese philanthropist Harou Kaneko, Seiryu has been operating as a regional pharmacy in Akita City and Yuzawa City, Japan for more than 15 years. Kaneko has over 45 years of experience in building and operating pharmacies in Japan. Today, it already has six outlets in Japan and has expanded its operations in Thailand and the Philippines in 2019 and 2021, respectively. “We provide a convenient pharmacy experience to the Filipinos and contribute to the improvement of the Philippine healthcare system,” shares Sy-Kaneko. She also talks about Seiryu Pharmacy’s Japanese Customer Service called “Omotenashi.” “We want to make every encounter and visit at our pharmacy extra special; for we only want the best healthcare for our customers. We are serious about taking care of their health.” The Japanese pharmacy continues to partner with medical professionals to provide the customers the best information about their medication. Seiryu Pharmacy branches are located in K a mu ning , Quezon City and at the Centuria Medical Makati.

Sports

Petecio back in training, eyes women’s worlds in Istanbul

BusinessMirror

OKYO Olympics silver medalist Nesthy Petecio will travel to Baguio City on Friday to join her national boxing teammates at the Teachers Camp training bubble aiming to get back in fighting shape for three major competitions in 2022. Petecio told BusinessMirror that she intends to defend her world championship gold medal in March when the postponed worlds are held in Istanbul. “My coaches wanted me to fight in Turkey so I can defend my title,” Petecio, 29, said. “But the first step is to get back in shape. Petecio was the women’s featherweight world champion in Ulan-Ude, Russia, in 2019. The International Boxing Association scheduled the women’s worlds for this month, but postponed it for March because of the Covid-19 pandemic. Also on Petecio’s 2022 program are the 31st Southeast Asian Games in May in Hanoi and the 19th Asian Games in Huangzhou in September. The rewards and perks of being an Olympic medalist kept Petecio away from serious training for the past three months. She admitted she’s overweight, although she stayed fit by doing gym work almost every day since she settled for the Olympic silver medal against Japan’s Sena Irie last August 3. The pride of Santa Cruz in Davao del Sur thanked the Philippine Coast Guard, her benefactor Lucas Britanico and the Association of Boxing Alliances in the Philippines for providing her a training venue during her layoff. “I still train despite my busy schedule as a team leader at the Coast Guard. I jog and do the punching bag to stay fit,” said Petecio, a Petty Officer Three assigned at the Special Service Office in Parola, Manila. Petecio didn’t say how many pounds she gained in the past three months, but stressed she could easily get to her training weight of 60 kgs and eventually the featherweight limit of 57 kgs. “We have a good nutritionist— Jeaneth Aro—she will help us as we train,” she said. Petecio, along with fellow Tokyo silver medalist Carlo Paalam and bronze medalist Eumir Felix Marcial received their brand new houses and lots from Philippine Olympic Committee President Rep. Abraham “Bambol” Tolentino and Senator Francis Tolentino last Sunday in Barangay San Jose, Tagaytay City. Josef Ramos

B8 | T

hursday, December 9, 2021 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

ACES BEAT BATANG PIER NESTHY PETECIO has a busy year ahead.

By Josef Ramos

LASKA spoiled Arwind Santos’s big NorthPort with a thrilling narrow 87-85 victory to kick off action in the Philippine Basketball Association Governors’ Cup on Wednesday at the Ynares Sports Arena in Pasig City. After almost squandering an 11-point lead, 76-65, early in the fourth period, the Aces banked on Robert Herndon, Jeron Teng and import Olu Ashaolu at crunch time to hold off the Batang Pier’s comeback. Down 84-85, Herndon nailed a fade away in the last 30 seconds to

give the Aces an 86-85 edge. Robert Bolick then attempted an ill-advised shot from beyond the arc with still 19 seconds remaining and forced the Batang Pier to commit foul and send Teng to the charity line. “It was part of the play and Robbie [Herndon] wanted the ball in his hands. Olu [Ashaolu] did a good job sealing while Abu [Tratter] was screening to get him open,” Alaska coach Jeffrey Cariaso said. Santos? It looked eerie seeing the “Spiderman” of the league wearing a different uniform from the San Miguel Beer colors he wore for 12 straight season. He fought to the very end and tried to steal the win, scoring 14 in the fourth quarter to wind up with his 23 points that went with seven rebounds, three steals and four blocks. Ashaolu racked up 20 points with 14 rebounds and three steals while Teng had 19 points on 8-of15 shooting and Herndon added 13 points for the Aces. Greg Slaughter posted 18 points, 11 rebounds and three blocks, while import Cameron Forte had 18 points and 15 rebounds for NorthPort. Jamie Malonzo had 10 points and

Bolick contributed eight points. Santos buried three triples in led a 20-8 NorthPort run that gave the Batang Pier an 85-84 lead with 39 seconds left.

IT’S odd seeing Arwind Santos not in a Beermen uniform.

MELTON OK TO PLAY

TERRAFIRMA’S high-leaping guard Justin Melton got his first dose of Sinovac vaccine and will be allowed to play against Phoenix Super LPG on Thursday, according to Commissioner Willie Marcial. But Melton and all other players with incomplete vaccines will have to undergo swab tests before practices and games as part of the league’s health protocols, Marcial said. But Magnolia’s Rafi Reavis won’t be allowed to play until he gets vaccinated, Marcial added. Terrafirma coach John Cardel said Melton got his first jab in Pateros three days ago or a few days after arriving from the US. His second dose is due on December 27. Marcial, meanwhile, said the league got Pasay City’s approval for fully vaccinated fans to watch games at the Mall of Asia Arena on a 50-percent capacity.

SECURITY guards patrol near the logos for the Beijing Winter Olympics and Paralympics in Beijing. AP

Cordillera son rise DO fathers make the best coaches for their similarly inclined athlete sons (or daughters?) There would be two different schools of thought to that. One is the “no they aren’t” side that says parent-coaches have a tendency to favor their kids, knowingly or unknowingly. Or they are harder on their kids. Others say they’re too close to the situation and can’t be objective about how they’re conducting themselves, especially with their child. Lastly, and here’s the sad part. Many people say parentcoaches think they’re more qualified than they are.

with the Beijing Games “out of ideological prejudice and based on lies and rumors,” Foreign Ministry spokesperson Zhao Lijian told reporters. The boycott “seriously violates the principle of political neutrality of sports established by the Olympic Charter and runs counter to the Olympic motto ‘more united,’” Zhao said. As he did the previous day, Zhao vowed that China would respond with “resolute countermeasures” but offered no details. “The US will pay a price for its practices. You may stay tuned for follow-ups,” Zhao said. On Monday, White House press secretary Jen Psaki told reporters that the Biden administration will fully support US athletes competing at the Games but won’t dispatch diplomats or officials to attend. Psaki said the US has a “fundamental commitment to promoting human rights” and that it “will not be contributing to the fanfare of the Games.” The diplomatic boycott comes as the US attempts to thread the needle between stabilizing difficult relations with Beijing and maintaining a tough stance on trade and political conflicts. The US has accused China of humanrights abuses against Muslim Uyghurs in northwest Xinjiang province, suppressing democratic movements in Hong Kong, committing military aggression against the self-ruled island of Taiwan and more.

Well, on the other side, there are those who believe parents make the best coaches for their progeny. Not only do the two get to spend quality time with each other, sports strengthens that bond even better because precious lessons like goalsetting, discipline, strength of character and fighting spirit are learned from the best teacher of all. That’s Dad. This is true in boxing, where the guy in your corner may not be just your coach, he’s your father. Vegas former lightweight title contender and WBO Latino Super Lightweight champion David Sample works with his son DJ and says the connection is different. “We’re just on the same page. I feel like I can see what he’s thinking, and it’s like he knows what I’m going to call before I call it.” “I get respect out of the gate because of my Dad, I appreciate that a lot,” says the younger Sample in a story written in Title Boxing about fathers and sons connecting in the ring. Aaron Pryor Jr. son of Aaron Pryor, one of the best pound for pound fighters ever, also feels good about having his Dad in his corner. “It’s a special feeling,” he says. It feels good being the son of such a great fighter because everywhere we go, he has fans.” “I’m always going to be in his shadow,” acknowledges Junior. “My dad was one of the greatest. I may not be that, but I have his heart. I know that,” he says proudly. Team Lakay’s newest hero, Jhanlo Mark Sangiao, all of

Beijing has denounced US criticisms and punitive sanctions as interference in its internal affairs and slapped visa bans on American politicians it regards as anti-China. Zhao warned the US to “stop politicizing sports” and cease what he said were actions undermining the Beijing Winter Olympics, “otherwise it will undermine the dialogue and cooperation between the two countries in a series of important areas and international issues.” The Chinese Embassy in Washington dismissed the move as posturing in a tweet. “In fact, no one would care about whether these people come or not, and it has no impact whatsoever on the #Beijing2022 to be successfully held,” the embassy said. China’s mission to the United Nations called the boycott a “selfdirected political farce.” Even the ruling Communist Party’s notoriously opaque Central Commission for Discipline Inspection issued a response in the form of a lengthy screed on its website entitled “The Spirit of the Olympic Charter Cannot be Tarnished.” “Some Western anti-China politicians” have shown a “defensive Cold War mentality aimed at politicizing sport,” the article said, calling that a “clear violation of the Olympic spirit and a challenge to all people who love the Olympic movement.”

HE Philippines’ Jayrack de la Noche and Alexander Iraya failed to recover from a narrow first set defeat to drop a 20-22, 9-21 decision at the hands of Australia’s Jack Pearse and Lucas Josefsen on Wednesday in the International Volleyball Federation (FIVB) Beach Volleyball U19 World Championships in Phuket, Thailand. Josefsen, a quarterfinalist in the Third Asian U19 Championships in Nakhon Pathom last July with a different partner, and Pearse found their bearing in the second set to post their second straight win in Pool H. Australia also struggled in the first set before beating Estonia’s Karmo Saviauk and Kaur Erik Kais, 23-21, 21-10, in Tuesday’s first match. De la Noche and Iraya pushed Pearse and Josefsen to the limits in the extended opening set only to fall short. De la Noche and Iraya, who also bowed to Thailand’s Narakorn Chumaphai and Veerayut Sopati, 15-21, 19-21, on opening day, will face Saviauk and Kais in a must-win match at 10:40 a.m. on Thursday to clinch a spot in the round of 24. The Estonians beat the Thais, 21-19, 1621, 15-13, to tie their victims in second place at 1-1 won-lost, giving the Aussies the solo lead in their bracket. De la Noche and Iraya’s participation in the event is supported by the Philippine National Volleyball Federation and backed by the Philippine Sports Commission, Rebisco, Asics and Taguig City Rep. Alan Peter Cayetano.

Sebastian bags jrs chess crown

China: US diplomatic boycott violates Olympic spirit EIJING—China accused the United States of violating the Olympic spirit on Tuesday after the Biden administration announced a diplomatic boycott of the Beijing Winter Games over human-rights concerns. Rights groups have pushed for a full-blown boycott of the Games, accusing China of rights abuses against ethnic minorities. The US decision falls short of those calls but comes at an exceptionally turbulent time for relations between the powerhouse nations and was met with a barrage of criticism from China. The US is attempting to interfere

PHL pair yields to Australians in world U19 tilt in Phuket

People on the streets of Beijing were overall dismissive of the US move. “I don’t think it matters at all if they would come or not. The Olympic Games are not about one country or a couple of countries,” said coffee shop employee Deng Tao. “Such remarks from someone we never invited are simply a farce. And I don’t think it will have much impact on the holding of the Winter Olympics,” Lu Xiaolei, who works in trade. It wasn’t clear which officials the US might have sent to Beijing for the Games and Zhao said Monday that no invitation had been extended by China. AP

19 years old, is in a very similar situation with Sample and Pryor, but in the field of martial arts. His father Mark—9-72, a multi-awarded fighter and founder-coach of the legendary Team Lakay—is his coach as well. Called The Machine during his fighting days because “once he starts, he just keeps on going until there is a clear winner”—the elder Sangiao takes on the mantle of being his son’s coach when he debuts in ONE Championship in ONE: Winter Warriors II this December. “This will be the first time that I’m going to coach my son,” he said in Team Lakay’s recent media availability. “Although I consider our athletes as like my own children, it’s really different when it’s your own blood.” Coach Mark insists he won’t treat Jhanlo Mark with kid gloves at all, even as he admits he could not help but feel emotional as he juggles his role of being a caring father and a stern coach to his son. “If it’s all up to me, I will treat him the same as our other athletes. But we don’t know what will happen and like I said, that will be the first time that I will experience [being in his corner on fight night]. So I think we could only wait for fight night before we can see how different I could really be when I’m just barking orders for him as a coach on the side,” Coach Mark said. Jhanlo is adapting quickly to the situation, however, and is aware of the pressures that come with having his

HAGE GERRIAHLOU SEBASTIAN came from behind to snatch the crown from Ruelle Canino in the Philippine National Juniors Chess Championship at the PACE Center in Quezon City Tuesday. Trailing 13-year-old Canino by a point entering the ninth and last round, Sebastian, 15, trampled Rinoa Mariel Sadey and Canino falter against 2019 champion Vic Glysen Derotas to claim the title. Sebastian, a Far Eastern University stalwart, ended up on top with 7.5 points and shoved Canino to second place with 7.0 points. Fide Master Alekhine Nouri displayed poise as he drew with Israelito Rilloraza in the last round to emerge the new juniors champion of the event backed by National Chess Federation of the Philippines (NCFP) president Prospero “Butch” Pichay, Philippine Sports Commission chairman William “Butch” Ramirez, Philippine Olympic Committee president Rep. Abraham “Bambol” Tolentino and Chess Movement Inc. chairman Dr. Ariel Potot. Nouri, 15, tallied seven points, half a point ahead of Adrian Othniel Yulo, who beat Jeremiah Luis Cruz to settle for No. 2. Sebastian and Nouri will represent the country in the Asian and World Championships next year, according to NCFP chief executive officer Grandmaster Jayson Gonzales.

first match in ONE Championship. He is excited and a bit nervous, but he is more confident and upbeat than anything else. “He has to understand how to handle pressure despite this being his first time [to fight]. But as far as I can see, he’s really ready,” said Coach Mark candidly about his son. So sure is the Lakay chieftain about his son’s readiness and ability to put Team Lakay up there again in the ONE firmament that he has already bequeathed to Jhanlo his “The Machine” monicker. “Now that he’s old enough, he could already have the name of ‘The Machine,’” Coach Mark said proudly. “That name was given to me when I was still an athlete. Maybe, he says, “the fruit is better than the tree.” Great expectations are in those words for Jhanlo who wasn’t just born around but was also constantly surrounded by Igorot champions. As a young boy he grew up in the company of top-caliber talents like Eduard Folayang, Geje Eustaquio, Kevin Belingon, Danny Kingad and Joshua Pacio, among others, inside the Team Lakay Central Gym in Benguet. Now the young warrior sets off on his first quest on December 17 in Singapore. He will face Indonesian striker Paul “The Great King” Lumihi in a bantamweight showdown. Will the fruit indeed be better than the tree? We will know in a week’s time if the son’s rise will be a blazing one across the mountains of Cordillera.