BusinessMirror December 09, 2020

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JOB LOSSES TO PUSH 3-M FILIPINOS INTO POVERTY www.businessmirror.com.ph

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Wednesday, December 9, 2020 Vol. 16 No. 62

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

VALENZUELA traffic enforcers direct traffic at the Mindanao Avenue Toll Plaza on Tuesday after Mayor Rex Gatchalian suspended the business permit of Nlex Corp. over the RFID mess. The NLEx operator said on Tuesday it was “reviewing the situation” and “doing everything necessary to address the issues.” Story on B1. NONOY LACZA

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By Cai U. Ordinario

ITH a quarter of breadwinners in the Philippines out of work in 2020 due to Covid-19, the World Bank expects nearly 3 million Filipinos to fall into poverty by the end of this year.

Based on the Philippine Economic Update (PEU), the World Bank said growth is expected to contract to 8.1 percent this year

before rebounding to 5.9 percent in 2021 and 6 percent in 2022.

Poverty incidence, the World Bank said, is expected to increase

to 22.6 percent this year from 20.5 percent in 2019. This is based on the $3.2-a-day poverty line for lower middle-income countries like the Philippines.

“As the threat of the Covid-19 pandemic dissipates and business activities gradually return to normal, the economic recovery is expected to contribute to poverty reduction. The poverty rate is projected to fall to its 2018 level in 2021 and keep falling throughout 2022,” the report stated.

“Poverty in the Philippines is likely to increase in the short term given the negative impact of the pandemic on employment and

household income,” it added.

The World Bank said a large share of breadwinners remained jobless even after the government started easing community quarantines.

The report listed sectors which lost the most jobs as construction at 31.3 percent; food services and accommodation, 25.6 percent; and trade, 25.4 percent.

Based on government estimates, using its own poverty thresholds, National Statistician Claire Dennis S. Mapa said some 4.5 million Filipinos became jobless. This translated to an annual unemployment rate of 10.4 percent this year.

Continued on A2

US farm exports to PHL seen to hit record $3.1B

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S agricultural exports to the Philippines this year are expected to rise by 7 percent to reach a record-high $3.1 billion, driven by higher demand of Filipinos for high-value food and beverage products, a Global Agricultural Information Network (Gain) report said.

The Gain report noted that the Philippines has become the US’ ninth-largest global market for its agricultural products while remaining as the biggest market for American consumer-oriented

products in Southeast Asia.

The Philippines previously ranked as the 11th largest global market for US agricultural products.

Total US farm exports to the Philippines last year stood at $2.9 billion, according to the Gain report which was prepared by the US Department of Agriculture Foreign Agricultural Service in Manila (FAS Manila).

Top US exports to the Philippines include soybean meal, wheat, dairy products, prepared food and processed vegetables, it added.

PESO EXCHANGE RATES n US 48.0330

“While US agricultural exports amounted to $2.9 billion, down 2 percent from 2018, the Philippines grew to become the ninth-largest US export market,” the report, which was published recently, read.

“Despite Covid-19 disruptions to trade flows, business operations and consumer welfare, US agricultural exports to the Philippines are up 12 percent through September 2020, while FAS Manila forecasts year-end sales will reach a record $3.1 billion, topping 2019 by seven

AMID RFID FIASCO, PROBE OF TOLLWAY OPERATORS’ CONCESSION DEALS SET

percent,” it added.

The Gain report said Filipino consumers “have a strong affinity for US culture, including food and beverage products, they perceive US products to be safe and of high quality.”

Furthermore, the report noted a growing demand locally for “healthy, organic, gourmet and convenience,” foods that US suppliers could take advantage of.

Despite the trade disruptions caused by the Covid-19 pandemic,

STANDSTILL traffic at Karuhatan Toll Plaza on December 5. VALENZUELA CITY LGU

S

ENATE probers will review the compliance with minimum performance standards of toll operators, now under fire for problems in the shift to a radio frequency identification (RFID) system for all tollway users, as seen in daily monstrous traffic jams.

Senator Sherwin Gatchalian, in filing Resolution 587 Monday, paved the way for a Senate review of the minimum performance standards compliance of toll operators, as stipulated in their concession agreements.

He also asked that the inquiry cover the powers and functions of the Toll Regulatory Board (TRB) as the lead agency regulating all toll roads in the country.

See “RFID Fiasco,” A2

See “US Farm Exports,” A2

n JAPAN 0.4615 n UK 64.4123 n HK 6.1976 n CHINA 7.3557 n SINGAPORE 35.9744 n AUSTRALIA 35.6885 n EU 58.2832 n SAUDI ARABIA 12.8068

Source: BSP (December 8, 2020)

News A2 Wednesday, December 9, 2020

BusinessMirror

DTI pitches halal exports; biz leader has eye on China

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By Elijah Felice Rosales

HE Department of Trade and Industry (DTI) has set its eyes on expanding halal shipments next year, particularly to the Middle East, as part of a strategy to diversify both the export products and their markets.

In an interview with the BusinessMirror, Trade Undersecretary Abdulgani M. Macatoman argued that the Philippines needs to enlarge its export basket to ease the impact of supply-and-demand shocks brought about by global crises. As such, the DTI next year will push to broaden the type of exports the country is sending to its trading partners, he said.

To complement this effort, Macatoman disclosed the government will maximize its memorandum of understanding (MOU) with the United Arab Emirates (UAE) to increase its halal shipments to the Middle Eastern economy.

“We are looking at Middle East countries, particularly our exports of halal there. Halal is one of the fastest-growing consumer sectors amounting to $3.2 trillion, that’s why we see it imperative to explore our market there in the Middle East,” Macatoman said.

In 2018, the DTI and the Emirates Authority for Standardization and Metrology (Esma) signed an MOU to facilitate the flow of Philippine halal goods to the UAE. Under the MOU, halal certification bodies authorized by the Philippine Accreditation Bureau, an attached agency of the DTI, would be recognized as well by Esma. In turn, products certified by these bodies can enter the UAE market without having to undergo the usual barriers that Abu Dhabi enforces on halal shipments.

“As for the accreditation, the mutual recognition, we have that with UAE, through our Philippine Accreditation Bureau,” Macatoman explained.

“We just have to take advantage of that,” he added. “We want our halal products to infiltrate the global mainstream halal consumer market to improve our export figures.”

According to the trade official,

the Philippines stands to benefit in a move to improve exports to the Middle East, as the country has a captured market there numbering in millions, thanks to the population of overseas Filipinos in the region.

Based on records from the Department of Foreign Affairs, around 2.22 million Filipinos were working in Middle East and North Africa as of January. More than two-thirds of them are located in Saudi Arabia and in the UAE, while the rest are situated mainly in Kuwait, Qatar, Bahrain, Oman, Jordan, Lebanon and Israel.

Last year exports to the Middle East grew a little over 9 percent to $815.92 million, from $748.3 million in 2018, according to data from the Philippine Statistics Authority (PSA).

However, shipments to UAE declined by over 4 percent to $399.66 million, from $418.01 million.

Likewise, bananas and electronic products remained the country’s largest exports to the Middle East; processed food and beverages, where halal goods fall under, stayed on third.

Focus on China

IF Sergio R. Ortiz-Luis Jr. is to be asked, though, Philippine exporters should focus on shipping to the country’s traditional markets, especially with China.

The president of the Philippine Exporters Confederation Inc. added this is no time to experiment

with strategies, and called on the government to stick with the tried and tested. He explained among all the economies worldwide, it is China that is recovering from the pandemic at a pace unrivaled by superpowers Europe, Japan and the United States.

In September goods exports, for the first time since February, recorded a positive performance to the tune of more than 2 percent to $6.21 billion, from $6.07 billion during the same month last year.

Ortiz-Luis attributed this growth to China, which accelerated its purchase of Philippine products for the month. PSA reported September exports to China ballooned by close to 44 percent to $1.22 billion, from $852.16 million, on increased orders of electronic parts, mineral products and cathodes of refined copper.

“We can always say we want to diversify, we can always talk of going to nontraditional markets, but we cannot deny the fact the recovery of our exports relies on the demand of our conventional partners, particularly China,” OrtizLuis told the BusinessMirror.

Reliance on the country’s traditional markets, and especially China, backfired at the onset of the pandemic, though. When Beijing shut down factories to contain the spread of the virus, Chinese importers cancelled their orders to the loss of income of their suppliers.

Calabarzon LGUs told: Enforce health protocols to stop Covid

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LARMED by the number of people not wearing masks outside their homes, a Department of Health (DOH) official in the Calabarzon (Cavite, Laguna, Batangas, Rizal, Quezon) region urged the local government units (LGUs) and the police to strictly implement health protocols in the community, as the region recorded a total of 64,106 cases including additional 318 new cases on Tuesday.

“I call on all local government units including our police force to strictly implement health protocols in the community.

We are still facing the threat of Covid. We

should not lower our guard so that we will not become a victim of this pandemic!"

OIC-Regional Director Paula Paz N. Sydiongco said, partly in Filipino.

“We are still currently facing the threat of Covid-19 and we need everyone’s cooperation in preventing its spread in the community. As of now, there has been some neglect in enforcing safety protocols because there are many people outside their houses who are not wearing a mask and are mingling with people in the streets,” she stressed.

Sydiongco noted that the vaccine is

still months away before it can be made available.

“The government is doing its best to keep each and everyone of us safe, so let us do our share in preventing the spread of the virus,” she said.

“Let us not take the recent easing of restrictions [as a reason] to go out and travel everywhere we please. This is the time that we need to be wary. It is still best to stay at home and be safe, especially if you do not have any important matter to attend to outside of your residence,” she reminded.

Sydiongco said the regional office is continuously working with LGUs in the management and treatment of Covid cases.

She reported that a total of 56,821 patients have already recovered from the virus.

“We only have 5,521 active cases and are currently undergoing treatment in various health facilities in the provinces.”

Of the total cases, 1,764 have died.

The province of Laguna has the highest number of cases with 17,242; followed

by Cavite with 17,160; Rizal with 13,286; Batangas, 10,905; and Quezon, 5,513.

Claudeth Mocon-Ciriaco

Job losses to push 3-M Filipinos into poverty Continued from A1

Philippine Statistics Authority (PSA) Assistant National Statistician Wilma Guillen earlier told the BusinessMirror that 104 Filipinos out of 1,000 persons in the labor force also had no income this year.

“The job losses among household heads were more pronounced in the National Capital Region and neighboring regions of Central and Southern Luzon—one-third of household heads reported job losses here—where case infections were widespread and stricter community quarantines were enforced,” the World Bank said.

Typhoons, low consumption

APART from the pandemic, the World Bank said Typhoons Rolly (international name Goni), Siony (Atsani) and Ulysses (Vamco) that hit the country in November in just a span of two weeks brought devastation to a large swath of Luzon, fueling the rise in poverty.

Prior to these disaster events, the economy had already posted a

DIOP: “The series of natural disasters that hit the country while we are battling the pandemic highlights the importance of mainstreaming disaster risk reduction and climate change adaptation into policy and planning.”

10-percent contraction in the first three quarters, the worst since the 1985 debt crisis, due to a plunge in private domestic demand, deep contraction in investment activities, and weak exports.

The current economic forecast is a revision from the -6.9 percent World Bank forecast in October, resulting from the deep contraction in the third quarter and the extensive damage and losses suffered by the country from the typhoons and floods in November.

“The series of natural disasters that hit the country while we are battling the pandemic highlights the importance of mainstreaming disaster risk reduction and climate change adaptation into policy and planning,” said Ndiamé Diop, World Bank Country Director for Brunei, Malaysia, Thailand and the Philippines.

“While the Philippines is

financially resilient, stronger coordination, execution and implementation will help further improve social and physical resilience to frequent shocks.”

Private consumption, which accounts for two-thirds of the Philippine economy, has declined at a record pace because of high unemployment and falling incomes, the World Bank said.

The economic update said the pandemic and natural disasters threaten to reverse the trend of a steady decline in poverty in recent years.

Falling households income

THE results of a Covid-19 impact monitoring survey conducted in August 2020 show about 40 percent of households reporting a fall in income. Entrepreneurial income reportedly declined, particularly among households engaged in nonfarm business.

Remittances from abroad, a lifeline for many Filipino families, were reported to have fallen for two in five households that receive remittances, according to the survey.

“I think the most effective way to help the poor is actually to build confidence by continuing to flatten the infection curve, therefore, more activity will open and people will have the confidence to go out and spend. This is really the most effective way to help the poor instead of the cash transfer,” World Bank Senior Economist Rong Qian said.

Boosting confidence

IN a briefing on Tuesday, Qian said the Philippine economy is expect-

ed to return to its pre-pandemic growth path in 2022.

Qian said the growth drivers for next year and in 2022 will still be the growth of private consumption and public investments in the country. This will boost confidence and support consumption growth.

The World Bank said the government is expected to ramp up its infrastructure spending starting in the fourth quarter of 2020, creating jobs in the construction sector.

Qian added that the pre-election spending in the latter part of 2021 and election spending in 2022 would also help boost growth in the country.

The PEU’s current forecasts hinge on China’s early recovery, alongside the expected rebound in the global economy in 2021— which will allow for export growth to recover—and larger remittance inflows to stimulate domestic demand.

“Also, the global economic recovery will help the domestic economy via trade of Philippine export goods and remittances,” Qian added.

The PEU summarizes key economic and social developments, important policy changes, and the evolution of external conditions affecting the Philippines over the past six months.

It also presents findings from recent World Bank analyses, situating them in the context of the country’s long-term development trends and assessing their implications for the country’s mediumterm economic outlook.

www.businessmirror.com.ph

DOJ CHIEF WARNS PEDDLERS OF FAKE NEWS ON ‘LOCKDOWN’

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USTICE Secretary Menardo Guevarra has assured the public that the National Bureau of Investigation (NBI) would go after individuals or groups deliberately peddling wrong and malicious information with regard to the government’s response to the Covid-19 pandemic.

Guevarra made the warning following the circulation of text messages claiming the government is poised to impose another lockdown from December 23 to January 3 next year as part of measures to stop the spread of Covid-19 during the holiday season.

The DOJ chief, however, clarified that the NBI would not be asked to trace the origin of the text message as he prefers to reserve its resources “for more urgent and critical investigations.”

“However, if there are signs that misinformation about the Covid-19 situation are deliberate and coordinated to create public unrest or sabotage the economy, I will immediately deploy the NBI to intervene and find out who are perpetrating this malicious information,” Guevarra said.

The Palace earlier branded the report as fake news and warned the public against believing or sharing it.

The National Task Force against Covid-19 has also warned the public against believing in unverified information about Covid-19.

Joel R. San Juan

RFID fiasco…

Continued from A1

Gatchalian, however, said they are still awaiting formal plenary referral of Resolution 587 for committee hearings even as he told the BusinessMirror: “I hope to have that hearing next week.”

The senator’s brother, Valenzuela City Mayor Rex Gatchalian, had suspended on Monday the business permit of the North Luzon Expressway (NLEx) operator, the Metro Pacific Tollways Corp., effectively barring it from collecting toll until City Hall is satisfied with its efforts to resolve the problems arising from the shift to totally cashless transactions effective December 1.

Implementation had been botched because, with the sheer volume of vehicles that need to get RFID stickers, long lines have been forming on routes leading to installation sites and tollbooths.

Frequent glitches in some RFID stickers—which could not be read at NLEx toll booths—compounded the delays.

Asserting the Senate’s oversight functions, Gatchalian stressed the need to review the concession agreements of existing tollway operators, “to check if the operation of their toll collection system conforms to the minimum standard specifications for operations and maintenance under toll operations certificate or agreement.”

He indicated that the upcoming review will also cover existing oversight mechanisms set by Presidential Decree 1112 that created the TRB. The senator noted that the TRB, by virtue of PD 1112, was empowered to grant authority to operate a toll facility and issue the necessary “Toll Operation Certificate,” as well as the power to amend, modify or revoke the same whenever public interest so requires.

In a statement, Gatchalian,

at the same time, prodded the TRB to “implement a toll holiday in the wake of an admission from NLEx operators on the glitches in their system, including the malfunctioning of RFID sensors on vehicles.”

He recalled that NLEx Corp.

Senior Vice President for Communications Junji Quimbo had earlier acknowledged the veracity of claims of motorists on the defective RFID sensors, “and vowed to remedy the situation and improve their operations in the coming days.”

Senator Gatchalian said he was prompted to pick up the cudgels for motorists affected by the numerous issues surrounding the full implementation since December 1 of the compulsory use of RFID. This was meant, per the Department of Transportation (DOTr), to ensure 100-percent cashless or contactless transactions in order to lessen human contact and prevent Covid-19 infections.

“These malfunctioning RFID sensors and installation of RFID stickers exacerbated the already dismal traffic situation in the tollways and nearby roads since the start of the shift to a purely cashless toll collection system,” said Gatchalian, voicing motorists’ complaints.

The lawmaker lamented that “thousands of motorists have been suffering from the horrendous traffic that has been going on for a week now and which could have been prevented had they exercised prudence before setting a deadline on the implementation of the RFID system.”

“What’s more glaring than the admission of the fact that the system is not equipped enough to carry out the cashless payment scheme? Does that not constitute gross negligence on the part of the toll operator?” the senator asked, signalling the tone of the upcoming inquiry. Butch Fernandez

US farm exports…

Continued from A1

the Gain report said the country’s total global agricultural imports this year is on track to reach $13.5 billion, 2 percent higher than last year’s $13.3 billion.

The Gain report said the country’s top agricultural suppliers last year were Asean (35.3 percent), United States (21.7 percent), and EU (11.3 percent).

“Meanwhile, China continues to gain market share while presenting notable competition for highvalue products, including apples, table grapes, potatoes, citrus, and food preparations. Agricultural exports from the EU and Asean are steady to slightly down, with Australia more so,” it added.

Furthermore, the Gain report

said US exports of “high-value, consumer-oriented food and beverage products” to the Philippines this year could increase by 5 percent to a record-high $1.15 billion.

The report added that the Philippines was the US’ 10th largest market in the world and the top market in Southeast Asia for its “highvalue, consumer-oriented food and beverage products.” These products include cheese, dried fruits, wines, sauces and condiments, baking premixes, among others.

“While the months leading into the holiday season, typically the peak consumption period, are expected to be significantly more subdued than past years, traders report brisk sales and strong preference for US products,” it said.

Jasper Emmanuel Y. Arcalas

The Nation BusinessMirror

www.businessmirror.com.ph

Editor: Vittorio V. Vitug • Wednesday, December 9, 2020 A3

No more cease-fire with Reds–Duterte

By Samuel P. Medenilla

the past to build up its army through “forced recruitment, oppress our people through extortion and betray peace by launching attacks against both civilian and military targets.”

“We will capitalize on the gains which we have recorded in just a span of five days,” Burgos said, referring to the neutralization of one NPA Regional White Area Secretary and

@sam_medenilla

& Rene Acosta

@reneacostaBM

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RESIDENT Duterte on Monday vowed that the government will no longer declare any cease-fire with the communist rebels during his term.

In his public address on Monday, the President said he is already through negotiating with the National Democratic Front (NDF), the Communist Party of the Philippines (CPP) as well as its armed wing, the New People’s Army (NPA).

“For all intents and purposes, the cease-fire is dead,” President Duterte said.

He made his latest announcement amid the upcoming Christmas season, when the government traditionally declares a truce with the rebels.

The President said his “no ceasefire” policy is an offshoot of his decision to permanently end the government’s peace talks with NDF in 2019 after it insisted in the implementation of a “coalition government.”

President Duterte said he rejected the proposal, which he said is a form of treason for “destroying” the government.

“I cannot compromise anything in this government. It’s either I will be impeached or the military and the police will shoot me,” he said.

He then proceed tagging alleged

For all intents and purposes, the cease-fire is dead.

President Rodrigo R. Duterte

members of the communist rebels including lawmakers, who are part of the Makabayan bloc.

President Duterte stressed they are guilty of committing murder, arson, and rape, which is allegedly being perpetrated by its members.

“The act of one is the act of all,” he said.

“All communists are bad because all of you are conspiring to overthrow the government of the Republic of the Philippines and nobody would allow you. Not the military, not the police, and not the majority of all Filipinos,” he added.

President Duterte said he will be naming all the NDF members, whom he knew, before the end of his term.

President Duterte admitted knowing some of them when he was still a local official in Davao.

‘Insincere’

AS this developed, the commander

BM

of all military forces in Northern Luzon has ordered troops on Tuesday to sustain their operations against NPA rebels and all threat groups this holiday season.

Armed Forces Northern Luzon Command (Nolcom) commander Lt. Gen. Arnulfo Marcelo Burgos Jr. issued the order following President Duterte’s pronouncement that there will be no cease-fire with the rebels this year.

Burgos said the soldiers “fully adhere to PRRD’s [President Rodrigo Roa Duterte] decision not to declare cease-fire because, time and again, the NPA terrorists have been insincere and, instead, used the period to further their terroristic intentions toward the community and the general public.”

Nolcom spokesman Maj. Mikko Magisa said the NPA has historically taken advantage of unilateral ceasefires declared by the government in

Marcos camp distances from bid to oust Justice Leonen from SC

By Joel R. San Juan @jrsanjuan1573

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HE camp of former Senator Ferdinand “Bongbong” Marcos Jr. has distanced itself from the move to oust Associate Justice Marvic Leonen from the Supreme Court through an impeachment filed before the House of Representatives.

Lawyer Victor Rodriguez, one of the counsels of Marcos in the election protest case pending before the Presidentia l Electoral Tribunal (PET), said Marcos “ has nothing to do with the impeachment complaint filed against Justice Leonen.”

“We refrain from commenting on an event or case where we are not a party as it is inappropriate for anyone to make wild accusation on something that they have no basic comprehension of the allegations, have not read the complaint and are just but the usual ballyhoos,” Rodriguez said.

It can be recalled that Marcos’s camp has sought the inhibition of Justice Leonen from handling and participating in the deliberations and resolution of his election protest filed against Vice President Leni Robredo for his alleged bias and being hostile against the Marcoses.

Marcos a lso insinuated

that Leonen was delaying the resolution of his election protest until it becomes moot and academic with the filing of candidacies for the 2022 elections in October of next year.

He noted that it took the magistrate 11 months since he was assigned to the case last October 2019, to issue his first order— requiring several pleadings and documents not only from Marcos and Robredo but also from the Commission on Elections (Comelec) and the Office of the Solicitor General (OSG).

The PET has denied Marcos’s plea for Leonen to inhibit in a resolution issued last November 18.

The delay in the resolution of Marcos’s election protest was cited as one of the grounds for his impeachment.

A side f rom t h is, L eonen’s impeachment is being sought for alleged culpable violation of the Constitution for failing to dispose of at least 37 cases within 24 months as mandated

by Section 15 (1), Article VIII, in relation to Section 16, Article III of the Constitution, which mandates the prompt action and speedy disposition of cases and for alleged betrayal of public trust for his failure to file his statements of assets, liabilities and net worth (SALN) during his

tenure in the University of the Philippines (UP) as mandated by Section 7, Article XI of the 1987 Constitution.

Leonen has denied the accusations against him saying that the impeachment complaint was filed due to “personal or vindictive reasons.”

Meanwhile, graduates of the University of the Philippines College of Law (Class 2000) came to the defense of Justice Leonen and called for the House of Representatives to dismiss the impeachment complaint.

“Associate Justice Mario Victor ‘Marvic’ F. Leonen was our professor at the UP College of Law and he taught us that, no matter what, we should do the right thing. He was a mentor to some of us who worked for him, and who witnessed his fairness, integrity, professionalism, and deep love for our country,” the statement read.

They vouched for Justice Leonen’s commitment to adhere to the rule of law and to the supremacy of the Constitution.

“A ssoc i ate Ju st ice L eonen deserves to be in the Supreme Court and the Filipino people should ensure that he remains in the High Court for it to maintain its pivotal role in the Philippines as the final arbiter of law,” it added.

Angry residents almost mob telco repair crew over Internet service interruption in Davao City

By Manuel T. Cayon @awimailbox Mindanao Bureau Chief

D

AVAO CITY—With this month’s deadline imposed by President Duterte to improve telco services, Internet connection went down in the western part of this city since Saturday after months of poor broadband speed.

Residents complained that telco service provider Philippine

Long Distance Telephone Co. failed to provide any advisory, or information until Tuesday morning. Service was restored at around noon time the same day.

Access to PLDT’s call-center lines was difficult over the apparent swarm of calls placed on the company for explanation or complaint.

A store owner inside the Elenita Heights subdivision here said angry residents almost mobbed a PLDT vehicle whose

driver reportedly told her he was surveying the area. The driver told residents that the company would come back by the next day.

The store owner earlier told the BusinessMirror she stopped mobile text and call loading for all networks, saying all networks have been affected.

A neighboring sari-sari store said several PLDT Internet subscribers also paid data loads while angrily complaining about the long lost connection.

two NPA Finance Officers, “that are on top of the numerous intelligencedriven encounters across northern and central Luzon.”

“We can, and we will, crush insurgency in this part of the country within the given timeline which will allow us to completely refocus our efforts in preserving and upholding our sovereignty over every inch of

Philippine territory,” Burgos said.

The Nolcom has been promoting localized peace engagements instead of the traditional top-level peace talks, saying that the CPP and NDF negotiators “no longer enjoy control over the armed NPA fighters in the ground who has almost always defied the provisions stipulated in previous cease-fire declarations.”

A4 Wednesday, December 9, 2020 • Editor: Vittorio V. Vitug

Economy BusinessMirror

www.businessmirror.com.ph

Tourism stakeholders appear to shun Covid financial assistance, SBCorp official reveals

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

F

INANCIAL assistance to the tourism sector, which has been sorely devastated by the Covid-19 international travel restrictions, continues to remain largely untapped, according to government agencies.

Speaking at a news conference from Bohol on Tuesday, Grace Fate R. Dalisay, Chief Accounts Management Specialist of the Small Business Corp. (SBCorp) said, “As of today, we received a total of 281 [loan] applications equivalent to P175 million [for] the P6-billion fund for the revitalization of the tourism-related enterprises.”

Under the Bayanihan 2 Act, micro, small, and medium scale tourism enterprises may tap SB Corp’s CARES for Travel program for working capital loans, which are collateral-free and have zero interest rate.

In Region 7 (Central Visayas) alone, to which Bohol belongs, SBCorp received 25 loan applications from tourism enterprises for P28 million.

Dalisay appealed to the tourism associations “to help us [SBCorp]

encourage our hotels and tourism operators to avail of the loans.”

The Tourism Promotions Board (TPB) hosted the news briefing during while conducting an inventory of Bohol as a tourism destination and a MICE (Meetings, Incentives, Conventions, Exhibitions) familiarization tour with tourism associations, MICE organizers, and representatives of the National Recovery Task Force.

Tourism Secretary Bernadette Romulo Puyat also expressed concern about the slow uptake on financial aid from the Department of Labor and Employment (DOLE).

Over the weekend, DOLE reported 7,477 tourism workers received some P37.4 million in financial aid from the Bayanihan funds as of December 4. This accounted for some 61.7 percent of the total applications approved so far by the agency, or 12,121 tourism workers from 720 establishments. However, these beneficiaries account for only 1.2 percent of the over 600,000 workers from tourism micro, small and medium enterprises (MSME), estimated by the DOT to have been affected by closures of their establishments or now work shorter hours.

She told the BusinessMirror, “It’s been slow,” so under new guidelines issued by the DOLE and DOT, titled “������������������������� �������������������������� Expanded Coverage of Beneficiaries Under DOLE-DOT Joint Memorandum Circular No. 2020001,” beneficiaries now include tourism workers who have already benefited from the Department of Social Welfare and Development’s Social Amelioration Program and the Covid-19 Adjustment Measures Program under the first Bayanihan Act, as well as workers of affected establishments that implemented flexible work arrangements or alternative work schemes.

Also, secondary tourism e����� nterprises licensed by their respective local government units are now covered by the financial aid.

So far, 36,446 tourism workers from 1,210 establishments have submitted their applications for financial aid from the DOLE, with the most number of applications for aid, at 10,719, from Central Visayas, where many of Cebu’s hotels and resorts continue to remain shuttered.

This was followed by the National Capital Region or Metro Manila, at 6,217 applications.

Romulo Puyat urged tourism en-

POEA lifts deployment ban only for nurse, nursing aide new hires

By Samuel P. Medenilla @sam_medenilla

O

NLY newly hired nurses and nursing aides are exempted from the Philippine Overseas Employment Administration’s (POEA) temporary deployment ban for health-care workers (HCW).

The lifting immediately took effect upon the issuance of POEA Governing Board Resolution 17, Series of 2020, which was disseminated on Monday.

The lifting came with the condition that nurses and nursing aides will comply with the travel restrictions of the host country and execute a declaration signifying their knowledge and understanding of the risks involved of their travel.

In the same issuance, POEA opted to retain the deployment restriction for 12 other occupational

categories upon its consultation with stakeholders.

The ban would still apply for medical doctor/physicians; microbiologists; molecular biologists; medical technologists; clinical analyst; respiratory therapist; pharmacist; laboratory technician; x-ray/ radiologic technician; operator of medical equipment; supervisor of health services; and repairman of medical-hospital equipment. “ The supply of these skills vis- a-vis the demand needs further study by the govt agencies involved,” POEA Administrator Bernard Olalia said.

This despite President Duterte’s approval of the recommendation of the Department of Labor and Employment (DOLE) to lift the temporary deployment ban for all HCWs. POEA, however, noted the restrictions for the 12 HCWs may

also be lifted in the future depending on the recommendation of Professional Regulation Commission (PRC) and the Department of Health (DOH).

It also noted that starting on January 1, 2021, the government will be imposing an annual deployment ceiling of 5,000 new hire HCWs disaggregated by occupation.

“HCWs already exempt as per existing issuances shall remain exempt from moratorium,” POEA said.

These include newly hired nurses and nurse aides, as well as HCWs who were deployed to be able to secure perfected employment contract before September 30, 2020.

POEA imposed the temporary deployment ban last April to ensure the country will have a sufficient pool of HCWs who will assist the government’s Covid-19 response.

terprises, associations and local government units to help in providing the necessary documentary requirements for the affected tourism workers. Under the Bayanihan 2 Act, DOLE has P3 billion in funds for disbursement to affected tourism workers.

“This initiative of the DOT and DOLE has widened the scope of recipients of this financial assistance program and accommodates those who have already availed of existing programs open to the tourism sector. Hopefully, the program’s take-up rate significantly improves to reach more members of the micro, smalland medium enterprises [MSMEs] and more importantly, those belonging to the informal sector,” she said in a news statement.

Tourism Congress of the Philippines (TCP) President Jose C. Clemente said, from his discussions with some stakeholders, “some said their approved loan was only for P50,000, since their application was based on their submitted financial statements.”

He added, “Others are just plain afraid to borrow. They’re concerned about what would happen if they are unable to repay the debt. Although I already explained to them, SBCorp just needs them to write a letter in

case they feel sometime, they will no longer be able to repay their loan in a year. It can be restructured.”

Also, “some are unsure how to use the money. For instance, one stakeholder in Cebu asked me if tourism transport companies could use the SBCorp loan to pay for their vehicle amortizations. According to SBCorp, the borrowers can use the loan for anything; it’s a working capital loan so that encompasses a lot.”

TPB Chief Operating Officer Ma. Anthonette Velasco-Allones, for her part, assured, “Unlike the workers’ aid, SBCorp has no deadline for its CARES for travel loan program.”

Clemente added TCP is now conducting a survey to find out the other reasons behind the poor uptake on SBCorp loans. The TCP had been at the frontlines with the DOT, fighting to get some form of financial aid for tourism stakeholders, during the lawmakers discussions over Bayanihan 2.

Earlier, Clemente even expressed concern that the Bayanihan 2 funds were too small, not all stakeholders would be able to benefit. (See, “Reality of allocating limited tourism financial aid sets in,” in the BusinessMirror, August 25, 2020.)

SMC’s Ang underscores urgency of river rehab to mitigate floods

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A N Mig uel Cor p. (SMC) President and Chief Operating Officer Ramon S. Ang on Sunday underscored the urgency of rehabilitating the country’s rivers in the wake of the massive flooding caused by Typhoon Ulysses last month.

In a news statement, Ang said many Filipinos in Northern and Southern Luzon had to contend with destroyed homes, crops and properties because of massive flooding after the recent strong typhoons that hit the country.

He cited a National Disaster Risk Reduction and Management Council report which recorded a total of 213 flooding incidents.

This, he said, has brought to light the urgent need for mitigation projects that will address the perennial problem of flooding.

In Metro Manila, SMC, which is implementing the P735-billion Bulacan Airport Project, flooding can be avoided by dredging and pos-

sibly widening rivers, Ang said, citing the case of flood-prone cities of Malabon and Navotas, which were spared from severe flooding during the onslaught of Ulysses.

This can be attributed to the government pumping stations that may have improved the management and mitigation of flood water in the area, which was further boosted by SMC’s dredging of the Tullahan-Tinajeros River system.

“There are many factors that lead to flooding, some are natural-occurring, but many are man-made. We are not fully helpless against flooding, there are ways we can mitigate or minimize their impact,” Ang said.

The dredging project has widened and deepened the river by up to 5 meters resulting in no river overflow despite the increased volume of water.

The project costs P1 billion and is aimed at dredging the 27-kilometer stretch of the river system.

Jonathan L. Mayuga

Transport scheme aims to tap 9K out of job drivers

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OVERNMENT’S efforts to make public transportation more accessible to commuters during the pandemic will translate to the employment of almost 9,000 displaced drivers.

During the public address of President Duterte on Monday, the Department of Transportation (DOTr) announced it had already conducted the orientation and training of 7,000 drivers for its service contracting program.

He said another 1,838 drivers from other regions will also participate in the said initiative.

Under the P5.58-billion program, DOTr will hire the operators and drivers of some bus companies to transport passengers in selected areas.

Transportation Secretary Arthur P. Tugade said this will give people a predictable and convenient commute during the pandemic.

He said public-utility vehicles which will participate in the program will ply their routes with or without any passengers.

The Land Transportation Franchising and Regulatory Board (LTFRB) said the program will be implemented in the National Capital Region, Cebu, Davao, Caraga, as well as in Regions 10, 6, 9, and 1.

Expanded capacity

IN a related development, Tugade also reported they have expanded the capacity of trains and other public transportation after they restricted their operations during the onset of the pandemic last March.

He said the Light Rail Transit Line 1 (LRT 1) had its passenger capacity increase from 158 to 370, while LRT 2 from 160 to 486.

The Metro Rail Transit Line 3 (MRT 3) also increased its passenger capacity from 153 to 372, while the Philippine National Railways (PNR) from 166 to 219.

Tugade also reported they were able to successfully increase the speed of MRT 3 to 60 kilometers per hour this month after they completed its railway replacement.

He said this will now reduce the waiting time between trains from 9 minutes to 3.4 minutes.

DOTr also reported it was able to implement an electronic ticketing system for seaports as well as the reopening of more airports.

As of December 6, 2020, Tugade also reported 36 of 49 airports nationwide have resumed operations.

Mayor to transport, traffic execs: Reopen two Edsa intersections

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HE Quezon City government appealed to transport and traffic authorities on Tuesday to reopen the Edsa-Muñoz Interchange and the EdsaWest Avenue-North Avenue Interchange.

In a letter sent to the Department of Transportation (DOTr), Metropolitan Manila Development Authority (MMDA), and the Land Transportation Franchising and Regulatory Board (LTFRB), Mayor Joy Belmonte requested to open the two intersections to lessen the worsening traffic in those areas.

“We made the request in response to the numerous complaints we received from motorists. While we fully support the national government’s transporta-

IN this file photo: Philippine National Police Highway Patrol Group personnel guard a newly closed lane leading to a U-turn slot on Edsa in front of TriNoma mall in Quezon City. The gradual closure of the 13 U-turn slots along Edsa, done to free up traffic on dedicated bus lanes, has led to initial confusion on lane assignments, as some private vehicles used to the open lanes merge toward the inner lanes, only to find a dead end. NONOY LACZA

Puny ₧4-B budget for housing flagged continued from a8 These destructive typhoons damaged over 391,000 homes, according to the latest situation reports from the National Disaster Risk Reduction and Management Council (NDRRMC).

While organizations like Habitat for Humanity Philippines have worked with government to close the housing gap and address the Filipinos’ need for decent houses, the damage wrought by the typhoons means more needs to be done to make a dent on the housing backlog.

The housing backlog currently stands at 6.57 million and the Department of Human Settlements

and Urban Development (DHSUD) estimated that this could balloon to 22 million by 2040.

“We should be in the forefront of building safe, decent, and disaster-resilient homes. Empowering communities towards sustainability and resiliency in order to prevent casualties, save lives, and protect properties and infrastructures. A dollar spent in reducing disaster risk means lives and dollars saved from disaster recovery,” Fuentes said.

Based on a study conducted by the University of Asia and the Pacific (UA&P) Center for Research and Communication-Habitat’s Terwilliger Center for In-

novation in Shelter, the country’s housing needs could balloon to 15.076 million by 2022.

In a presentation, UA&P President Dr. Winston Conrad B. Padojinog said this is composed of housing needs for socialized, economic, and low-cost types of housing at 5.118 million, 2.11 million, and 1.915 million, respectively.

But the largest share of these housing needs is for the unserved market which is expected to reach 5.933 million by 2022. This is composed mainly of the ODC segment.

The ODC segment, Padojinog said, accounts for 55 percent or around 3.1 million households of the

tion initiatives, particularly the Edsa Bus Carousel project, we have to do a balancing act so that we won’t compromise the welfare of those using Edsa,” the mayor explained.

The city government also suggested to reopen some of the U-turn slots closed by the national government to give way to the Edsa Bus Carousel project.

After monitoring the Balintawak area, the city government determined that the bottleneck caused by the reduction of lanes from three to two, per direction, at the Edsa Balintawak Cloverleaf to give way to the exclusive Edsa Bus Carousel lane has resulted to heavy traffic at times reaching Edsa corner North Avenue.

unserved segment based on 2018 data. Their number could increase to as much as 3.3 million by 2022.

Padojinogsaidmuchofthecountry’shousingbacklog canbefoundintheunserved,aswellassocializedandeconomic segments. The backlog for the unserved segment has reached P5.623 million between 2001 and 2018.

The socialized segment has a price range of around P480,000 per unit while the economic segment is between P480,000 and P1.7 million. The backlog between 2001 and 2018 for these two segments reached 4.808 million for socialized housing and 303,934 for economic housing. Cai U. Ordinario

The World BusinessMirror

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

Wednesday, December 9, 2020

A5

UK gives 1st doses of Covid vaccine as the world watches

Prime Minister Justin Trudeau holds a press conference at Rideau Cottage during the Covid pandemic in Ottawa on December 1. Sean Kilpatrick/The Canadian Press via AP

Trudeau: Canada to get Pfizer vaccine by end of this year

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ORONTO—Prime Minister Justin Trudeau said Monday Canada will get up to 249,000 doses of the vaccine developed by American drugmaker Pfizer and Germany’s BioNTech before the end of December.

The vaccine is expected be approved by Health Canada as soon as Thursday.

Trudeau had come under criticism from opposition parties for saying Canadians won’t be among the first to get a vaccine against Covid-19 because the first doses will likely go to citizens of the countries they are made in. Canada doesn’t have mass vaccine-production facilities.

Trudeau said Canada recently amended the contract with Pfizer so that it would deliver up to 249,000 doses this month. That will mean about 124,500 of the highest risk Canadians will get vaccinated at first, as two doses are required per person a few weeks apart.

“We are now contracted to receive up to 249,000 of our initial doses of Pfizer-BioNTech’s Covid-19 vaccine in the month of December,” Trudeau said. “Pending

Health Canada approval, the first shipment of doses is tracking for delivery next week.”

Canada has contracts with six other vaccine makers as well.

Trudeau said 14 distribution centers will be located in large Canadian cities initially. There will be one in each province and two each in Canada’s four largest provinces.

He said millions of more doses will be on the way.

“It has been a difficult year, and we are not out of this crisis yet,” Trudeau said. “But now, vaccines are coming.”

Retired Gen. Rick Hillier, who leads the Covid-19 Vaccine Distribution Task Force in Canada’s largest province of Ontario, said he expects Ontario to get about 85,000 doses this month for roughly 42,500 people. Hillier said seniors and workers in long-term care homes are among those expected to get the vaccine first.

And he expects Ontario to get at least 1.2 million people vaccinated in the first three months of next year.

Ontario has a population 14.5 million. AP

Australia passes law that can scrap China’s Belt and Road Initiative

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rime Minister Scott Morrison has new powers to veto or scrap agreements that state governments reach with foreign powers under laws that could stymie China’s Belt and Road Initiative in Australia and further inflame tensions between the trading partners.

The laws passed by Parliament on Tuesday will give the foreign minister the ability to stop new and previously signed agreements between overseas governments and Australia’s eight states and territories, and with bodies such as local authorities and universities.

Morrison’s government will be able to block or curtail foreign involvement in a broad range of sectors such as infrastructure, trade cooperation, tourism, cultural collaboration, science, health and education, including university research partnerships. An early target is likely to be an agreement the Victoria state government signed in 2018 to join President Xi Jinping’s signature infrastructure-building BRI. The laws could further worsen ties between Australia and its largest trading partner, which have been in free fall since April, when the prime minister called for an independent probe into the origins of the coronavirus. Beijing has since inflicted a range of trade reprisals, including imposing crippling tariffs on Australian barley and wine while blocking coal shipments.

Relations hit a fresh low last week when a Chinese diplomat tweeted an image purporting to show an Australian soldier holding a knife to the throat of an Afghan child. After Morrison called for an apology for the “repugnant” post, a senior Chinese Foreign Ministry official dismissed the demand, questioning whether the Australian leader “lacks a sense of right and wrong.”

Victoria Premier Daniel Andrews told reporters last week that his government wasn’t considering withdrawing from its BRI agreement due to the worsening ties, the Australian Associated Press reported.

China’s cooperation with Victoria on BRI has

brought benefits to both sides, Chinese Foreign Ministry spokesman Zhao Lijian said in August.

“Australia should have an objective view of such cooperation and BRI, and not set up impediments for China-Australia cooperation.”

Beyond the BRI deal signed by Victoria, which aims to increase Chinese participation in new infrastructure projects, the law may allow the federal government to review and overturn memorandums of understanding between Beijing and the governments of Western Australia, South Australia and Tasmania in sectors ranging from investment, science cooperation and access to the Antarctic.

The states and territories have at least 1 3 0 a g r e e m e n t s a c ro s s 3 0 n a t i o n s t h a t could be affec ted by the new law, according to Morrison. The law will establish a public register to provide transparency to the foreign minister’s decisions and states and territories will be given three months to deliver a stocktake of their existing agreements.

Partnerships between Australian universities and Beijing-sponsored bodies could be scrapped.

There is mounting concern in intelligence circles about China’s influence in universities, and a program under which academics sign over intellectual property rights to their work in return for research grants, the Australian newspaper reported in April.

Under the law, Morrison won’t be able to scrap deals between state governments and commercial companies or state-owned enterprises. That means the lease of a strategic port in Darwin, used by the US military, to a Chinese company by the Northern Territory government in 2015 could not be overturned.

It’s the latest move by the government to safeguard national interests. Morrison also plans to toughen foreign investment screening, regardless of the size of the deal, for sectors such as telecommunications, energy and technology.

Bloomberg News

L

ONDON—UK health authorities began rolling out the first doses of a widely tested and independently reviewed Covid-19 vaccine on Tuesday, starting a global immunization program that is expected to gain momentum as more serums win approval.

The first shot came early in the morning at one of a network of hospital hubs around the country where the initial phase of the UK program will be rolled out on what has been dubbed “V-Day.” Public health officials are asking the public to be patient because only those who are most at risk from Covid-19 will be vaccinated in the early stages. Medical staff will contact people to arrange appointments, and most will have to wait until next year before there is enough vaccine to expand the program.

“I think there’s every chance that we will look back on...[Tuesday] as marking a decisive turning point in the battle against coronavirus,” said Simon Stevens, the CEO of England’s National Health Service.

The first recipient was grandmother Margaret Keenan, who turns 91 next week. She received the shot at University Hospital Coventry at 6:31 a.m.

Keenan says she feels “so privileged to be the first person vaccinated against Covid-19.”

“It’s the best early birthday present I could wish for because it means I can finally look forward to spending time with my family and friends in the New Year after being on my own for most of the year,” she said.

The first 800,000 doses are going to people over 80 who are either hospitalized or already have outpatient appointments scheduled, along with nursing home workers. Others will have to wait their turn.

A mong t hose older Br itons scheduled to get vaccinated is Hari Shukla, of Newcastle.

“When I received the telephone call, I was very excited I got the opportunity of joining in and taking part in that,” he said. “So we are very very pleased and happy and excited as well.”

Buckingham Palace refused to comment on reports that Queen Elizabeth II, 94, and her 99-year-old husband, Prince Philip, would be vaccinated as a public example of its safety.

“Our goal is totally to protect every member of the population, Her Majesty, of course, as well,” Dr. June Raine, chief executive of Britain’s Medicines and Healthcare products Regulatory Agency, told the BBC. Public health officials elsewhere are watching Britain’s rollout as they prepare for the unprecedented task of vaccinating billions of people to end a pandemic that has killed more than 1.5 million. While the UK has a well-developed infrastructure for delivering vaccines, it is geared to administer them to groups such as school children or pregnant women, not the whole population.

The UK is getting a head start on the project after British regulators on December 2 gave emergency authorization to the vaccine produced

by US drugmaker Pfizer and Germany’s BioNTech. US and European Union authorities are also reviewing the vaccine, alongside rival products developed by US biotechnology company Moderna, and a collaboration

Amid pandemic, Davos event to be held in Singapore in 2021

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ENEVA—Organizers of the annual World Economic Forum event in Davos, Switzerland have again changed their planned venue for next year’s edition, announcing it will now take place in Singapore in May—a sign that the Covid-19 crisis has played havoc with planning.

Forum leaders in early October had said the elite gathering that usually takes place in the frigid climes of the Swiss Alps every January would be held in the Swiss city of Lucerne and nearby town of Buergenstock in May next year, delayed because of the pandemic.

“The change in location reflects the Forum’s priority of safeguarding the health and safety of participants and the host community,” managing director Adrian Monck said. “After careful consideration, and in light of the current situation with regards to Covid-19 cases, it was decided that Singapore was best placed to hold the meeting.”

The May 13-16 event is being billed as “the first global leadership event to address worldwide recovery from the pandemic,” and will—as usual—bring together heads of state and government, chief executive officers, civil society leaders, global media and youth leaders from around the world.

The event is expected to return to Davos in 2022. AP

HK returns to tightest Covid restrictions as infections surge

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ong Kong is implementing some of its strictest social distancing measures since the pandemic began, cutting off in-person dining at restaurants from 6 p.m. and closing gyms and beauty salons, amid a growing surge in cases.

“We have no choice,” Chief Executive Carrie Lam said as she announced the dining restrictions at a weekly press briefing on Tuesday. She did not say when the new restrictions would take effect. “We all need to be mentally prepared about more measures to be rolled out.”

The Asian financial hub is struggling to contain its latest wave of Covid-19 infections, with case numbers often exceeding 100 a day last week—the most since August. That’s prompted the government to gradually raise its social distancing measures, recently raising fines for those breaching restrictions and sending civil servants back to working from home.

Hong Kong bans in-person dining at restaurants from 6 p.m. and closes gyms and beauty salons amid a growing surge in cases. Bloomberg photo The new wave of virus cases has already shuttered local schools and delayed a Hong Kong-Singapore travel bubble, a blow to efforts to re-open a city whose economy has been rocked by protests and the pandemic. Activists, meanwhile, have worried that authorities are using virus-related restrictions

to curb their ability to gather for demonstrations.

‘Stay at home’

In-person dining restrictions hit hard in a city with some of the world’s tiniest apartments, many of which have small or not fully-equipped kitchens.

But Lam said the city needed to act. Public transport network data revealed that this current round of social distancing restrictions had not led to a significant drop off in residents traveling around the city compared with previous rounds of tightening, she said.

Hong Kong is also moving to close what Lam called “loopholes” in the arrivals process at the city’s international airport.

In addition to measures already in place, she said visitors will now have to take designated transport to specially-picked hotels for a 14-day quarantine, and will also need to take an additional virus test on the 19th day after their arrival.

Lam urged employers to allow work from home arrangements, and said the flow of people on the streets needed to be reduced.

“Unless it is necessary, please stay at home, work from home,” she said.

Bloomberg News

90-year-old Margaret Keenan, the first patient in the UK to receive the Pfizer-BioNTech Covid-19 vaccine, administered by nurse May Parsons at University Hospital, Coventry, England on December. The United Kingdom, one of the countries hardest hit by the coronavirus, is beginning its vaccination campaign, a key step toward eventually ending the pandemic.

Jacob King/Pool via AP

between Oxford University and drugmaker AstraZeneca.

On Saturday, Russia began vaccinating thousands of doctors, teachers and others at dozens of centers in Moscow with its Sputnik V vaccine.

That program is being viewed differently because Russia authorized use of Sputnik V last summer after it was tested in only a few dozen people.

The first shipments of the Pfizer-BioNTech vaccine were delivered to a selected group of UK hospitals on Sunday.

At one of those facilities, Croydon University Hospital, south of London, staff members couldn’t so much as touch the vials, but they were thrilled to just have them in the building.

“I’m so proud,” said Louise Coughlan, joint chief pharmacist at Croydon Health Services NHS Trust.

The vaccine can’t arrive soon enough for the UK, which has more t ha n 61,0 0 0 Cov id-19 -rel ated deaths—more than any other country has reported in Europe. The UK has more than 1.7 million cases.

The 800,000 doses are only a fraction of what is needed. The government is targeting more than 25 million people, or about 40 percent of the population, in the first phase of its vaccination program, which gives first priority to those who are highest risk from the disease.

After those over 80 and nursing home workers, the program will be expanded as the supply increases, with the vaccine offered roughly on the basis of age groups, starting with the oldest people.

In England, the vaccine will be delivered at 50 hospital hubs in the first wave of the program, with more hospitals expected to offer it as the rollout ramps up. Northern Ireland, Scotland and Wales are making their own plans under the UK’s system of devolved administration.

Logistical issues are slowing the distribution of the Pfizer vaccine because it has to be stored at minus-70 degrees Celsius (minus-94 degrees Fahrenheit).

The immunization program will be a “marathon not a sprint,” said professor Stephen Powis, medical director for NHS England.

Authorities also are focusing on large-scale distribution points because each package of vaccine contains 975 doses and they don’t want any to be wasted.

The UK has agreed to buy millions of doses from seven different producers. Governments around the world are making agreements with multiple developers to ensure they lock in delivery of the products that are ultimately approved for widespread use. AP

A6 Wednesday, December 9, 2020 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Chaotic Governance 101

P

rotecting the public from Covid-19 was the rationale given by the Department of Transportation when it issued Department Order 2020-012 in August directing its attached agencies to implement the contactless and cashless transaction system in tollways. In a statement dated August 27, the DOTr said electronic toll collection lanes should have been in place by November 2. The same statement indicated that the policy would “promote adherence to health protocols such as physical distancing through limiting human intervention, and removing the traffic queues as well as congestion at toll plazas.”

The policy was inspired by the memorandum circular issued by the Land Transportation and Franchising Regulatory Board in May, which directed public utility vehicles using tollways to install radio frequency identification (RFID) tags in their units pursuant to the program of the Toll Regulatory Board. The circular was issued on May 14, back when Metro Manila was still under enhanced community quarantine—the most stringent quarantine status imposed by the government to contain the spread of Covid-19. Even after Metro Manila was placed under modified ECQ starting May 16, people remained wary of going out due to fears of contracting the disease.

To make the shift to a cashless transaction system, operators of major tollways in the Philippines—San Miguel Corp. (SMC) and Metro Pacific Tollways Corp.—had to install RFID stickers in all vehicles that make use of their toll roads. Because the installation of RFID stickers became mandatory, vehicle owners queued in tollways where these stickers were installed by the operators to beat the initial November 2 deadline. The installation of RFID had been cumbersome for many because of the tedious requirements and the long wait for the stickers.

The eventual relaxation of quarantine restrictions and the need to meet the deadline set by the government pushed more motorists to go out and secure their RFID stickers. This resulted in problems that the policy had sought to avoid, such as traffic in toll plazas. The chaos and the long wait for the stickers had also caused health hazards including bladder problems, hypertension, and even anxiety.

Securing their stickers, however, did not guarantee vehicle owners a hassle-free travel given unforeseen glitches, such as machine failure to read the stickers. It also did not shield them from the monstrous traffic jams caused by the rush to install RFID in their own cars to beat the government’s new deadline. Compounding the woes of car owners is the interoperability issue of the cashless systems of the two operators.

SMC tried to make up for its initial tedious requirements by setting up as many installation centers as possible, on 24/7, so it could serve more vehicle owners. However, the math shows how finite and inelastic the situation is, unless the government—the root of the haphazardly considered policy—steps in to ease it by pulling back on the deadline.

Government should listen to SMC President Ramon Ang, who had earlier suggested the extension of the deadline for installing RFID stickers, and House leaders who backed proposals for an extension (See, “House leaders back calls to extend RFID deadline,” in the BusinessMirror, December 8, 2020).

The resulting chaos caused by DO 2020-012 shows that the agency lacked the necessary preparation to implement the order. The DOTr should have first set the deadline for tollway operators to make their systems interoperable; and then set the deadline for the public—but only in full consideration of many factors like traffic flow patterns and volume of vehicles. Until the issues are resolved and all 6.1 million registered vehicles in Metro Manila, Central Luzon and Calabarzon get their stickers, tollway operators should consider maintaining at least one cash lane.

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The 13th-month bonus: A Christmas gift for all SSS pensioners Aurora C. Ignacio

All About Social Security

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he good news that greeted SSS pensioners since the first day of December indeed brought bright and happy smiles on their faces. The SSS has already granted the early release of the annual 13th-month pension to retiree, disability, and death or survivor pensioners.

My contemporaries always tell me that their favorite month of the year is December simply because they are receiving double, just like when they are still working in the corporate world.

Around 2.8 million SSS pensioners are our beneficiaries for this year’s 13th-month and December pensions. Even though it has been a challenging year for SSS pensioners, the yearly tradition of giving 13thmonth bonuses is something to look forward to before the year’s end. The annual tradition began in December 1988 as one of our initiatives to enhance the pensioners’ benefits in time for Christmas. As we have done in the past 32 years, the SSS will continue to grant this add-on

Dennis Gorecho

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crued pensions due to the resumption of their pension from ACOP non-compliance suspension are also entitled to a 13th-month pension, which they will receive later as scheduled on December 16.

For SSS pensioners with accounts on non-PESONet banks, SSS has already coordinated with the said banks and requested them to release the 13th-month pension on December 4. We have already asked the Philippine Postal Corp. (PhilPost) to expedite the delivery of 13th-month pension checks so SSS pensioners can enjoy their cash benefits during the Yuletide Season. Pensioners receiving benefits via checks only composed about 0.53 percent of the total current number of pensioners as of December 2020.

Covid-19 might have temporarily disrupted our lives, but it cannot postpone the holiday celebration.

Christmas will be celebrated everywhere in a new normal setting, and for our pensioners, this is the time to enjoy their benefits with their dearest families and relatives.

A good day to all!

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.

Filipino seafarers and the ‘Good Samaritan at Sea’ doctrine

✝ Ambassador Antonio L. Cabangon Chua Publisher

benefit to its pensioners every year before Christmas.

Generally, it is patterned after the 13th-month pay given to workers in time for the Christmas season. The extra benefit is equal to their basic monthly pension plus the P1,000 additional benefit without the monthly medical allowance for disability pensioners. Retirees, survivors, and disability pensioners are entitled to receive the 13th-month pension. For partial disability pensioners, they should have received a full year’s pension to qualify for the said 13th-month, whereas minor children receiving dependent’s pensions are also entitled to the 13th-month pension.

For SSS pensioners receiving

their monthly pensions through banks participating in the Philippine Electronic Fund Transfer System and Operations Network (PESONet), they have already received their 13th-month and December pensions on December 1 and 4, respectively, depending on their date of contingency.

For retiree pensioners, the date of contingency refers to the pensioner’s date of birth, separation from employment, cessation of his/her business, or the first day of the following month/semester from his/her last payment contribution.

For survivor pensioners, however, the date pertains to the date of member’s death, or presumptive death, while for disability pensioners, it is the date of his/her disability.

Pensioners whose date of contingency is from the first up to the month’s 15th day have already received their 13th-month and December pensions last December 1.

Meanwhile, pensioners whose date of contingency falls on the 16th to 31st day of the month have received theirs last December 4, while pensioners who recently applied for the advance 18 months pension have already received their 13thmonth pension on the same date, December 4.

However, pensioners with ac-

T

he recent story of an American sailor who was rescued by Filipino seafarers may aptly be an application of the “Good Samaritan at Sea” doctrine or the obligation to render assistance at sea.

The 63-year-old sailor, Stuart Bee, was missing at sea for nearly two days after his boat capsized in the Atlantic Ocean.

Filipino seafarers on board the vessel “Angeles” found him on November 29, adrift in the middle of the Atlantic Ocean while clinging to his boat 86 miles from the shore of Port Canaveral, Florida.

“The story of Stuart is no different from others who are pleading for help today; in this time of pandemic.

You don’t need to sail out in the ocean to rescue and serve your purpose.

There maybe too many Stuarts who happen to be your neighbor, a friend, or just like the Stuart we came to know, a stranger that needs help.

Help in any way you can, whenever the opportunity to help is present,” Filipino seafarer Lacruiser Relativo said in his Facebook post.

For centuries, the “Good Samari-

tan” maritime rescue doctrine encourages seafarers to go to the aid of life and property in distress.

Life as a seafarer involves obligations that are unlike almost any other occupation, as seafarers have long understood that a moral, if not legal, obligation is upon them to render assistance to persons in peril at sea.

The biblical anecdote of the Good Samaritan pertains to the traveler who, for no other reason than a desire to help a fellow human being, stopped on the road to Jericho to help a man who had been beaten and bloodied by robbers.

The Samaritan bandaged the victim’s wounds, and took him to an inn to recover, which was a gratuitous act for which no reward was sought and by his actions the man was saved.

In most cases, a person reacts to save another person as a result of compassion or instinct, or both.

While seafarers will have the same compassion and instinct as other professionals, they have a legislated obligation to render assistance.

The duty to render assistance is a general reflection of customary international maritime law.

Whether vessels sailing under their flag operate in either a private or public capacity, the requirements incumbent upon the masters of the vessels are the same.

This obligation comes from various legal sources, most notably from international conventions of the United Nations and the International Maritime Organization.

The United Nations Convention on Law of the Sea says that every signatory to the convention must require the master of a ship flying its flag to render assistance to any person found at sea in danger of being lost and to proceed to the rescue of persons in distress.

The exemption is when the assisting vessel, the crew or the passengers on board would be seriously endangered as a result of rendering assistance to those in distress.

The Safety of Life at Sea Convention (SOLAS) says “the master of a ship at sea which is in a position to be able to provide assistance, on receiving a signal from any source that persons are in distress at sea, is bound to proceed with all speed to their assistance, if possible informing them or the search and rescue

service that the ship is doing so.”

The International Convention on Maritime Search and Rescue 1979 also mandates this principle “regardless of the nationality or status of such a person or the circumstances in which that person is found.”

The Salvage Convention of 1989, although primarily directed at addressing the salvage of property and the prevention of marine pollution, nonetheless repeats the SOLAS obligation on the master to render assistance to any person in danger of being lost at sea.

States, both signatories and nonsignatories to the conventions, are duty bound to ensure those in distress at sea are rendered assistance on a non-discriminatory basis.

However, there are some jurisdictions where the law has developed that those who undertake to render assistance must exercise reasonable care and acceptable seamanship in doing so, or else suffer liability for the aggravation or excess harm that they cause to the individuals or property.

They are expected to exercise reasonable care to avoid negligent conduct that worsens the position of the victims and to avoid reckless and wanton conduct in performing the rescue.

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

Opinion BusinessMirror

www.businessmirror.com.ph

How best to utilize the coco levy fund

Are hospitals safe? Perceptions and realizations tocol in the hospitals but not regarding it as a safe place to go.

Dr. Carl E. Balita

Entrepreneurs’ Footprints

Dr. Jesus Lim Arranza

MAKE SENSE

I

F the information I received is true, then the planned merger of the United Coconut Planters Bank (UCPB) with the Land Bank of the Philippines (LandBank) will materialize soon.

I’ve been active in the coconut industry since the 1960s and I know a great deal about UCPB, being a former director of this bank for several years. I am also privy to the circumstances that led to the institution of the so-called coco levy fund, which was the main source of money used to purchase the First United Bank (now UCPB).

Let me share with you first a bit of background about UCPB, its creation and purpose, and later enumerate the many questions that will certainly bug its merger with the government-owned LandBank.

In 1971, Congress enacted Republic Act 6260 creating the Coconut Investment Fund (CIF) that mandated the collection of the first-ever coco levy from coconut producers for a period of 10 years.

The target collection was P100 million, although the amount was not reached.

The collection was then used to set up the Coconut Investment Company (CIC).

About a year later, there was a global shortage of fats and oils that caused coconut oil prices to skyrocket, something that the government paid much attention to so as to prevent a supply shortage in the domestic market. Because of the high price of coconut oil in the world market, producers would rather export this commodity and thus earn dollars and a windfall, to the detriment of the local market.

This led to the institution of another coco levy via Presidential Decree (PD) 276. It is another form of collection meant to subsidize Filipino consumers in their purchase of coconut-based products through the Coconut Consumer Stabilization Fund (CCSF). Because of this fund, producers allocated part of their produce for the domestic market.

Then came PD 755. This law directed that the funds collected from RA 6260 and PD 276 be used to acquire a bank that would provide financing for working capital and other production-related costs of the coconut farmers. This bank was later identified as the First United Bank, which was then owned by the family of the late Jose Cojuangco. FUB was later renamed UCPB. Later, the government caused the distribution of shares of stocks in UCPB to coconut farmers who were able to present the so-called coconut fund receipts, which evidenced payments of the coco levy. It came to a point where about 65 percent of the outstanding stocks in UCPB were already owned by the coconut farmers.

After the 1986 revolution, the issue of whether the coco levy fund was a private fund, or ill-gotten wealth of certain government officials, or a fund that actually belonged to the government were raised before the Sandiganbayan.

The graft court, and eventually the Supreme Court, ruled that the various coco levies collected by government were effectively in the nature of a tax, and thus pertained to the government. To the detriment of thousands of coconut farmers, their shares of stocks in UCPB were declared invalid and ordered reconveyed to the government. The redeeming part of this 2012 Supreme Court decision is that the proceeds of all the coco levy assets that included oil mills, 33 million San Miguel Corp. shares, and the integrated coconut chemical firm purchased or established through the coco levy funds, as well as shares of stocks in UCPB were directed to be utilized by the government exclusively for the benefit of coconut farmers and the development of the coconut industry.

Now, I heard there is a resolution approved by the UCPB Board that was pushed by the government represented by the Department of Finance (DOF), allowing the merger of UCPB with LandBank. Another resolution was said to have been passed by the UCPB Board requesting that the existing loan given by the Philippine Deposit Insurance Corp. (PDIC) to UCPB be converted into preferred shares in UCPB. This loan amounts to more or less P12 billion.

There are so many serious questions concerning the planned merger.

Isn’t it that LandBank was created via another special law, which mandates this bank to provide financing for the agrarian reform program of the government and provide credit to our rice farmers?

On the other hand, UCPB was acquired and established as the financing arm from which coconut farmers can obtain working capital and other credit accommodations to fund coconut productionrelated costs. Don’t these special laws have different mandates and are still in full force and effect as they have never been repealed?

Let me stress that the Supreme Court had specifically directed that the proceeds of the coco levy assets should be used for the benefit of the coconut farmers and the development of the coconut industry. This, I believe, is the reason why President Benigno Aquino III, through Executive Order 179 and 180, directed the identification of all coco levy assets (those purchased or established through various coco levy funds) as well as mandated the disposition of these assets.

There are now bills pending in Congress that propose the establishment of a coconut trust fund from the proceeds of the coco levy assets. For one, Sen. Cynthia Villar is pushing such bill in the Senate. It appears that the direction of the country’s leaders is to liquidate these assets so that the proceeds can be placed in the proposed trust fund. But to my simple mind, these steps are clearly aimed at implementing the Supreme Court’s 2012 decision.

Surely, questions will be asked as to whether or not the proposed merger of UCPB with LandBank is consistent with the Supreme Court mandate. Some quarters believe that merging the two banks is violative of the Supreme Court decision.

Doesn’t the merger of UCPB with LandBank necessitate the passage of a new law amending both the special laws that envisioned the creation of these banks, and not through mere resolutions issued by the boards and stockholders of both UCPB and/or LandBank?

Isn’t it a more viable option to just sell through bidding the shares of stocks of UCPB and other coco levy assets so the proceeds can be used for the coconut industry and the farmers as originally intended?

Another point. PDIC was created to provide emergency loans or assistance to distressed banks. Isn’t the conversion of PDIC’s loan into preferred shares in UCPB contrary to the former’s charter?

Wouldn’t the conversion of such loan into preferred shares be tantamount to an equity investment in UCPB? Wouldn’t it be best that this loan be simply returned to PDIC so that these funds can replenish its revolving fund that will in turn be continuously used to assist ailing or distressed banks? After all, this is PDIC’s core function.

I really believe (actually a position shared by many) that it is better to just privatize UCPB and the other coco levy assets so that the Supreme Court’s mandate is complied with and our coconut farmers will not again feel betrayed or abandoned by the government.

The coconut farmers are in dire need of support right now because they are also victims of the Covid-19 pandemic, not to mention the effects of the recent series of typhoons that hit the country.

The coconut farmers are probably among the poorest of the poor in the country since they do not have the capacity to intercrop and venture into other livelihood sources for lack of funding support.

Clearly, there are more advantages to a UCPB privatization over the planned merger with LandBank.

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

Wednesday, December 9, 2020 A7

O

ur place of sanctuary couldn’t be the same place we are afraid to go. This dichotomized perspective is reflected in a survey to determine the general public’s perception of hospitals, before and during the pandemic. While perception matters, there are more that the public should know about how safe hospitals could be, and there is more that the hospitals should do to create a more positive public impression about hospitals. There seems to be an image issue on how hospitals are known as a place to go to and be in during this pandemic experience.

The health-care sector was never given as much attention and value as it is getting now from all sectors across humanity. The health professionals became heroes and saints in the eyes of the public. The World Health Organization declared 2020 as the Year of the Nurses and Midwives, not because of the pandemic but because of the 200th birthday of nursing founder Florence Nightingale. In July, President Duterte declared 2020 as the year of the Filipino Health Workers through proclamation No. 976.

The survey

This writer virtually surveyed 565 respondents from all over the country with 55 percent coming from urban cities, mostly 21 to 40 years old, college level (75 percent). A 20-item questionnaire was developed to cover various areas of the hospital experience before and during the pandemic. The respondents were clustered based on their experience either in public hospital or in private hospitals. Statistics covered central tendencies of means and used t-test to see the significant difference between those groups who experienced public hospitals and those who experienced private hospitals. The ratings were derived by the difference between those who agreed versus those who disagreed with the statements.

The degree of confidence

The respondents had high level of confidence in “going to the hospitals” before the pandemic with mean confidence rating of (+) 7.9, which is very high in a 10-point scale. The respon-

dents had (+) 68 confidence rating (percentage of confident minus percentage of non-confident).

This dropped to a mean degree of confidence of 3.7 with (–) 62 confidence rating, with 81 percent of the respondents expressing that they are “not confident to go to hospitals.”

The survey indicated that the respondents had (+) 40 comfort level in going to private hospitals but gave a (-) 72 rating when asked about comfort in going to public hospitals. When asked “I am comfortable to go to private hospital these days,” 70 percent agreed.

Asked the same question but referring to public hospitals, 86 percent of the respondents disagreed. Statistics showed significant difference between two groups of respondents, with rating of confidence higher for private hospitals at 3.2 (in a 5-point scale) compared with 2.4 given to public hospitals.

Safety and environment

The (+) 70 of the respondents perceived that “the hospitals are implementing strict health protocol” with 85 percent in agreement, but when asked if the “hospital is a safe place to go,” 72 percent disagreed giving a rating of (-) 44. There is no difference between the perceptions of the respondents for public and private hospitals in this area of concern. The “welcoming ambiance” of the hospitals is given (+) 10 approval rating.

The public is well aware of the deaths of some health professionals in the line of duty. This must have contributed to this dilemma of perceiving the implementation of the strict pro-

The hospital personnel

The nurses are given the highest agreement rating of (+) 74 for their “caring behavior,” while doctors “being accommodating” are given (+) 66 rating, as compared with the “friendliness of the hospital personnel” that got (+) 46 agreement rating.

There is an observable difference in the rating of the nurses in public and government hospitals, with the nurses in private hospitals rated higher at 3.6 compared to the 3.3 rating of the nurses in the public hospitals. This can be attributed to the nurse-patient ratio in public hospitals, which is higher than private hospitals. And the government nurses are paid higher salaries and wages compared with their counterparts in private hospitals.

The hospital experience

When asked about providing “positive memorable hospital experience,” the respondents had a close split score with only (+) 2 rating. Higher mean rating is given to private hospitals at 3.05 compared with 2.8 mean score of the public hospitals.

When asked if they “felt special in the hospital,” 59 percent disagreed giving it a (-) 18 rating. In a related question about if hospital provided for “meaningful experience,” 53 percent agreed. Hospital facilities are rated comfortable at (+) 32 or by 66 percent of the respondents. Meanwhile, laboratory enjoys the highest rating for its “reliability” with (+) 76 approval rating by 88 percent of the respondents. The “fast service” of the hospitals suffered a (-) 14 approval rating while “food served in the hospitals” given a (-) 24 approval rating. The accessibility of the hospitals is approved by (+) 78.

The respondents gave a (+) 20 rating in hospitals engagement in socially relevant activities.

Hospitalization is not a happy experience but may be remembered for its valuable moments. This seems to be the challenging area in hospital service delivery system that hospitals should figure out and strategize about.

The cost of hospital experience

The 61 percent disagreed that the price of hospital fees are fair and affordable giving it a (-) 22 rating but the respondents agreed that they “got service

worth the value of their money at (+)10 rating with 54 percent in agreement. It is in this area that the public hospitals got a higher mean score of 3.04 compared with 2.84 for private hospitals.

The private hospital experience may be costly considering the very complicated health-care system and the lack of government support for its private operations. Many private hospitals are suffering from the blows of the economic and health impact of this pandemic experience along with other issues like that with Philippine Health Insurance Corporation. The late president of the Private Hospitals Association of the Philippines Inc (PHAPI), Dr. Rustico Jimenez, died crying for the resuscitation of the dying hospitals that resuscitate the dying Filipinos.

The professional assurance

Dr. Jose Rene de Grano, the new president of the PHAPI assures that the hospital is safe than what everybody thinks. He asserts that the strictest health and safety protocols are being observed by highly trained professionals in order to ensure the safety of all patients, relatives and hospital employees. He pointed out that the possible infectious cases are screened and segregated from the non-infectious ones. “With all the safety standards, hospitals are one of the safest places to go during this pandemic, even safer than most public places,” he assures.

Dr. Bu C. Castro, former president of Association of Allied Health Organizations of the Nations, Philippine Medical Association and Philippine Hospitals Association (PHA) notes that a hospital is a refuge not only for the sick but also for the healthy to remain healthy.

Dr. Jaime Arnibal Almora, the current president of the PHA, pointed out that if indeed health is wealth, one would want the best service to promote and restore it, at all cost. As a doctor, he has this to ask, “if you cannot trust your hospital or your health professional, who else can you trust?”

Indeed, if there is any time in our history when we should give the highest appreciation of these medical institutions and their health service frontliners, it is now. For many, these hospitals become witness to our first footprint at birth and our final foot-

print as well.

For feedback, please send e-mail to drcarlbalita@ yahoo.com.

Competition law in times of natural disasters Atty. Emerson B. Aquende

Competition Matters

T

he successive typhoons that devastated large swathes of Luzon in November, and the massive flooding that recently inundated Metro Manila and Cagayan province have once again raised to the national consciousness the vulnerability of the Philippines to natural disasters. To a large part, geography is to be blamed for this curse. The entire east coast of the country faces the Pacific Ocean, which sends our way 20 typhoons every year on the average, at least five of which are destructive.

Accompanying flooding and landslides often aggravate the lethality and destructiveness of typhoons. Fluctuating ocean temperatures caused by climate change further compounds the problem by either increasing the severity of typhoons, or causing droughts, depending on whether the ocean is warmer or colder than normal. It doesn’t also help being in the Pacific Ring of Fire, where earthquakes from the occasional movement of the tectonic plates, and volcanic eruptions from the 24 known active volcanoes sprinkled across the archipelago, is frequently expected but cannot be predicted. Given all these adverse factors, it’s not surprising that the Philippines is among the countries with the highest risk for natural disasters—9th out of 181 countries in the World Risk Index of 2020. The human and economic cost of natural disasters to the country is staggering. In the past 20 years, the 432 disaster events resulted to 39,946 deaths and estimated damages reaching $24.2 billion.

Coming from the Albay province, I am no stranger to frequent natural disasters. Super typhoons, landslides, flooding, earthquakes and volcanic

eruptions are regular fare for us living at the foot of Mayon Volcano, whose majestic beauty is equaled only by her deadly reputation as the most active volcano in the Philippines with 52 eruptions to her credit since the year 1616. Albay, with the rest of the Bicol provinces, straddles also the typhoon alley where super typhoons birthed by the warm ocean in the months of October, November and December cuts across the archipelago on a diagonal northwest path.

For those of us who live with natural disasters, we know that every natural disaster leaves a lengthy trail of misery in the lives of those impacted. The survivors of natural disasters have to endure lengthy periods of recovery and rebuilding even as they are beset with a host of difficulties and deprivations. Water and electricity services may take weeks (or even months) to be restored in the disaster area, leaving everyone scrambling to buy electric generators and bottled drinking water. Roads may be impassable for days due to landslides, fallen trees and electric poles, or worse, destroyed bridges isolating local communities for a time. Business operations of banks,

grocery shops, water refilling stations and other commercial establishments may be interrupted because of damages incurred and employees unable to work, resulting in shortages of basic necessities and prime commodities.

As is most often the case in post-disaster situations, prices of food, other basic necessities, and prime commodities, including building materials, may surge to unjustifiable levels because of price gouging. In many instances, the increase in post-disaster prices are justifiable due to higher input costs of traders and retailers, such as added expenses from cleanup, higher transportation charges, increased labor expenses, and similar legitimate factors.

However, there is also no denying that many traders and businessmen will take advantage of the chaos in the market that follows natural disasters to generate more profit just because they can.

The adverse impact of price gouging can be magnified several times under a post-disaster situation. It is particularly injurious to those who belong to the lower income groups who may be denied access to basic necessities and prime commodities because prices have risen beyond their means. Unless the government is able to stabilize the markets immediately, price gouging may worsen the suffering of survivors due to hunger and other deprivations.

While the Price Act allows the government to use price freeze and price ceilings as immediate remedial tools to suppress price gouging, it should not be overlooked that these are not the only tools available in its arsenal.

In fact, there are more potent measures that the government can deploy to suppress the more injurious types of price gouging—the kinds committed by cartels, and those practiced by dominant firms and businesses.

The Philippine Competition Act (PCA) offers alternatives, and perhaps even more appropriate remedies to

suppress post-disaster price surges.

Admittedly, anti-price gouging measures like price freeze and price ceilings are attractive to deploy because these are very visible tools. However, implementing price freezes and price ceilings can be administratively difficult, given the resources needed to enforce it effectively. Worse, it may actually be counter-productive in the long run because these interventions may in fact distort competition in the market. It is argued that allowing post-disaster price increases will result to increase in production (to meet demand), incentivize outside firms to bring in additional supply (because of attractive prices), promote efficient use of in-demand products, and even encourage businesses to stockpile supplies in anticipation of impending natural disasters. Capping prices may produce the reverse results, and even lead to rationing and long queuing.

I even hazard to argue that the PCA offer better tools to address price gouging than price freeze and/or price ceilings because the former is geared towards eliminating anti-competitive conducts and restore market efficiency.

Sections 14 and 15 of the PCA, which deals with anti-competitive agreements and abuse of dominance can be better employed as they do not adversely affect, rather aid in, the proper functioning of the market.

Comm. Emerson B. Aquende is the newest member of the Philippine Competition Commission.

Before joining the PCC on March 5, 2020, he headed the Legal Education Board, the government agency regulating legal education in the country. He has gained experience in insurance and finance as board director in the United Coconut Planters Life Assurance Corp., UCPB General Insurance Co., Inc., and its various subsidiaries. He practiced law as a litigation attorney, and has accumulated more than 22 years in the academe, 14 years of which as the law dean of the University of Santo Tomas-Legazpi. He currently teaches law in the University of the Philippines College of Law.

A8 Wednesday, December 9, 2020

OVER HALF OF S.E.A. BUYERS CHECK DIGITAL REPUTATION OF BRANDS–KASPERSKY STUDY

By Elijah Felice E. Rosales

F

@alyasjah

IRMS in Southeast Asia must maintain the integrity of their businesses even in the digital space, as consumers in the region check the online reputation of a brand before buying its products, an antivirus provider reported on Tuesday.

A study commissioned by Kaspersky indicated 51 percent of buyers in Southeast Asia consider a firm’s digital reputation as a factor for patronizing its offerings. Moreover, the same number of people said they will avoid using a product from a brand involved in a scandal or negative news online.

Likewise, two in every five consumers in the region disclosed their views of a brand are swayed by the personalities endorsing it.

More than a third of Southeast Asians also said they have stopped using a product or a service from a firm linked to controversies online.

At least half of them even called on brands to maintain all kinds of comments, even the negative ones, posted on social-media accounts.

Yeo Siang Tiong, Kaspersky’s general manager for Southeast Asia, explained the shift to digital during the pandemic compelled buyers to study their brands’ virtual identities.

“Consumers in Southeast Asia are aware about their own digital reputation on social-media,” he said in a news briefing. “And now [they] hold brands accountable for their behavior

online, too.”

As such, Yeo advised firms to stay mindful of what they put up on their online platforms, as they may have repercussions in the future against the integrity of their brand.

He also reminded both individuals and firms they may suffer from attacks in digital platforms due to hacking. They then must make sure security solutions are put in place to keep their accounts protected from possible breaches, Yeo recommended.

Kaspersky also reported 35 percent of Internet users in the region operate anonymous accounts to conduct various activities online.

Nearly half of them said they maintain fake profiles to express secret interests they want to hide from friends, as well as to exercise freedom of speech without having to engage in squabbles in social-media networks. Over a third explained they use the anonymous account to disagree with people minus the risks of exposing their identity.

According to Kaspersky, majority of these anonymous accounts are registered on Facebook, the rest are distributed among YouTube, Instagram and Twitter.

The report gathered the insights of 1,240 respondents across Asia and the Pacific, 819 of whom are from Southeast Asia. It was conducted in November by YouGov for Kaspersky, and targeted the insights of working professionals who are active on social media.

‘CREATE could lure $7-10B in new investments in 2021’ A

By Jovee Marie N. dela Cruz

@joveemarie

S the enactment of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) looms, the chairman of the House Committee on Ways and Means on Tuesday said the proposal could spur as much as $7 billion to $10 billion in new additional foreign investments in 2021 alone and at least 2 million jobs in two years.

With this, Albay Rep. Joey Sarte Salceda described the CREATE as a much-needed “shot in the arm” for the country’s pandemichit economy.

With the fog of uncertainty over tax incentives almost lifted, Salceda also said that businesses can now also make decisions about investing in the Philippines.

Earlier, Salceda already transmitted his committee’s intention to have the House plenary adopt the Senate version of CREATE to fast-track its approval.

Salceda confirmed that the Senate version of the CREATE will be adopted by the House plenary on Wednesday (December 9).

“I will be working with the Board of Investments and the ecozones on how we can promote the Philippines

as an investment destination more aggressively, now that the cloud of uncertainty due to the delayed passage of CREATE is almost over,” said Salceda, the principal author of the proposed CREATE in the House.

If the country gets its promotion strategy right, the House leader said CREATE could result in $7 billion to $10 billion in new additional foreign investments.

He promised to work with the Department of Finance (DOF) to ensure that the Fiscal Incentives Review Board (FIRB), which CREATE will strengthen as the central incentives management agency of the country, can handle an influx of new investment applications.

Once signed by the President, CREATE will implement a 10-percent corporate income tax cut for corporations that are making P5 million and below in net taxable income; and a 5-percent reduction

for all other corporations.

Salceda said the reform “modernizes the tax incentives regime to make it simpler, fairer, and more efficient.”

Investment promotion

Salceda, meanwhile, called on the Department of Trade and Industry (DTI) to intensify its programs on business and investment promotion.

He said the DTI must now “redouble their efforts towards helping small businesses create jobs and large investors create new opportunities.”

With CREATE alone, 1 million new jobs can be created in the next 2 to 3 years, Salceda said, “but we have to be very aggressive in helping businesses expand.”

As “a much-needed shot in the arm for our pandemic-hit economy,” CREATE will “infuse some P39 billion just this year for business expansion, while finally settling the fog of uncertainty over tax incentives. If we get this right, we can set 2021 up for very rapid recovery in the double digits. But we have to act decisively,” the lawmaker added.

In October, Salceda wrote the DOF and DTI, asking them to share with Congress the plans for attracting more investment into the country.

“They informed me that we are pursuing double taxation agree-

Bohol reopens Dec. 15 with test-before-travel policy

By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

T

HE province of Bohol will reopen for leisure travel on December 15, in time for family gatherings for the Christmas holidays.

This was announced by Tourism Secretary Bernadette Romulo Puyat during an online presser on Tuesday, with Bohol Gov. Arthur Yap. “Bohol will be open for leisure travel, even those coming from GCQ [general community quarantine] areas,” such as the National Capital Region, she said.

Yap said the province will impose a test-before-travel policy for leisure tourists, who have to prebook their accommodations and tours with hotels and operators accredited by the Department of Tourism (DOT) and certified by the province under its Ultimate Bohol Experience (Ube) program.

“The hotels are ready. They are not just DOT-accredited but also have the Ube seal. It’s really helped us implement stronger health and safety protocols,” said Yap. “This is also welcome news to the airlines, because at least one or two will be able to [fly here]…. Tourists have to take their RT-PCR tests 72 hours before traveling and submit a negative test,” he stressed.

According to DOT-Region 7 (Central Visayas), 24 accommodation establishments in Bohol have already received their certificates of authority to operate (CAO), while 130 have provisional CAOs. Asked whether he was still pursuing plans to initiate a travel bubble with Covid-free countries like Taiwan, Singapore, Australia/New Zealand by next year, Yap said, “Definitely we have to consider that. The carrying capacity of Panglao Island alone is 3,000 a day, and last year, we reached 1.5 million to 1.6 million tourists. Today, I don’t think we’ve reached 10 percent of that amount, so that’s how bad the situation has been.”

The local executive expressed disappointment that MICE (Meetings, Incentives, Conventions, Exhibitions)

had yet to pan out after he reopened Bohol for such events, following the successful holding of the Tourism Promotions Board’s Philippine Travel Exchange last September. “We did try to open to MICE events last October, but we noted the arrivals leave much to be desired,” said Yap. The Tourism Promotions Board (TPB), which hosted the online presser during its ongoing Destination Inventory and MICE familiarization tour, will allot P10 million to Bohol for the local government’s use in reopening the province to tourism.

TPB COO Ma. Anthonette C. VelascoAllones said the allocation will be used to pay for the RT-PCR testing of Bohol’s hotel employees and other tourism frontliners, similar to what the government agency did for Boracay Island.

“Gov. Yap and I are also discussing other schemes by which to maximize the contingency fund support,”she told the BusinessMirror. Under Republic Act 9353 (Tourism Act of 2009), 10 percent of its annual corporate operating budget for marketing and promotions is earmarked as a special contingency fund (SCF), to be tapped in case of emergencies.

This the same fund the TPB is tapping to fund the subsidy for RT-PCR tests for tourists, in partnership with the Philippine General Hospital. Allones said more funds may be allocated next year for the subsidized RT-PCR testing, considering that the current allocation will only cover some 11,000 domestic tourists. (See, “TPB tapping emergency fund for Covid test subsidy,” in the BusinessMirror, December 7, 2020.)

For her part, Romulo Puyat said she will continue to raise with the Department of Health her proposal to pilot the saliva test for Covid testing.

“We are continually reminding them that we are ready to fund [the pilot test], the answer is always ‘they are still validating.’ But don’t worry, we will continue to ask about it.”

The saliva test is currently being used in all airports of Japan and in Hong Kong, and is reported to be as accurate as the RT-PCR test.

ment to attract more foreign investors of all sizes, and the DTI is already undertaking trade missions, but we have to go double time, because our competitors are doing so, too,” Salceda added.

Market boom

Salceda, meanwhile, said the country can expect a stock market boom in 2021 with the passage of CREATE. “I did the calculations. The actual net present value of the infusion in private sector capital due to CREATE is as much as P5.7 trillion over the next 10 years, or 38 percent of market capitalization. You don’t always get a policy that gives you that much private sector capital.

CREATE is once in a generation,” Salceda said.

“That’s why when the pandemic worries ease and uncertainty fades, I expect a stock market boom in 2021. Now may be the time to invest in resilient companies, because if the private sector can maximize the gift that is CREATE, I expect a very good earnings year in 2021, relative to this year. Maybe earnings growth would even exceed GDP growth,” Salceda added.

Also, the House tax panel and economic recovery chief has also asked the DTI to boost the efforts of Negosyo Centers to formalize small businesses that are currently unregistered and thus unable to benefit from existing loan programs.

Puny ₧4-B budget for housing flagged

A

LARGER housing budget will help the Philippine economy recover from the pandemic and achieve the AmBisyon2040, according to Habitat for Humanity International.

In a statement, the Habitat for Humanity Philippines said with a budget of P4 billion, the housing sector had the lowest budget allocations for 2021.

Habitat’s Terwilliger Center for Innovation in Shelter (TCIS) Global Director for Financial Inclusion and Capital Markets Naeem Razwani said a higher budget will help the country restart the economy and get closer to AmBisyon2040.

“We usually forget that the housing services that come in with construction of each of the houses—the kind of electric appliances that you buy, the kind of supplies that you use to improve the internal environment of your house—also contributes to the GDP,” Razwani said.

“In the Philippines, the undercount of the entire housing sector which contributes to the country’s GDP is already P1.3 trillion [$29 billion]. We all need to work together to build on this opportunity,” he explained.

Razwani said the slowdown in construction due to the pandemic has severely affected the economy.

He said this forced 79 percent of households to halt their housing building plans this year. Based on the AmBisyon2040, 61 percent of Filipinos want to own at least a medium-sized home.

A compounding factor was that in the past few months Typhoons Quinta, Rolly and Ulysses struck in quick succession, noted Lili Fuentes, Habitat Philippines Chief Operating Officer.

Continued on A4

www.businessmirror.com.ph

Companies BusinessMirror

Wednesday, December 9, 2020

B1

Nlex looking at options to fix glitches in cashless scheme

A

By Lorenz S. Marasigan

@lorenzmarasigan

FTER having its business permit in Valenzuela City suspended, Nlex Corp. said on Tuesday it will “implement several measures to resolve” the issues raised and “protect” its customers and stakeholders.

Nlex Corp. President Luigi L. Bautista said his group is currently assessing the needed recourse to fix the glitches on the RFID system, which had caused heavy traffic along the expressway over the past couple of days.

“We are reviewing the situation and are doing everything necessary to address the issues,” he said.

Bautista noted that this may

include amicable and cooperative initiatives between the tollway company and the City of Valenzuela.

“We are working to eliminate the inconvenience caused to our customers by the new compulsory tollway cashless transaction system using RFID that is required by the Department Order of the Department of Transportation,” he said.

To recall, Valenzuela Mayor Rex

T. Gatchalian on Monday temporarily suspended the business permit of Nlex Corp. to operate within his jurisdiction due to the heavy traffic that was caused by the glitches in its digital toll collection system.

This resulted in free toll for many motorists and freed up congestion on the Valenzuela portion of the expressway.

Bautista noted that his group “acknowledges the mandated 100 percent cashless toll implementation has experienced birth pains that unfortunately resulted in technical problems in some instances.”

“These glitches that are occurring at the toll booths are simply a result of some adjustments that should be expected because the RFID implementation took effect only eight days ago,” Bautista said.

He noted that the group is now ramping up measures to ensure that the RFID systems will be “more

convenient for the public,” and that concerns are of “top priority.”

Bautista added that the tollways firm “will continue to pursue a series of consultations and dialogues with the Valenzuela Mayor in good faith.”

The transport department has mandated all expressway operators to implement a full cashless toll collections system in their thoroughfares, as a means to prevent the spread of Covid-19. The policy was implemented on December 1.

The government is currently giving leeway to motorists who failed to have RFID stickers installed on their vehicles by allowing operators to convert all toll plazas into so-called “stickering lanes.”

By January 11, only select toll plazas will remain as stickering lanes. On that same day, motorists passing through expressways without RFID stickers will be apprehended.

Solon: Microgrids to electrify entire PHL

By Lenie Lectura @llectura

A

LAWMAKER is pushing for the deployment of microgrids to achieve 100 percent electrification nationwide by 2022.

Under Senate Bill 1928, or the proposed Microgrid Systems Act, microgrid systems providers will be allowed to operate in any area where there is either no electricity access at all or where the power connection does not provide 24/7 electricity supply.

Sen. Sherwin Gatchalian, who is also the chairman of the Senate Energy Committee, said the measure would provide round-the-clock electricity supply to “unserved” and underserved” areas.

Unserved areas are those with no electricity access while underserved areas are currently served by distribution utilities whose supply of

electricity is less than 24 hours daily.

The National Electrification Administration (NEA) reported that there are 12, 672 unelectrified ongrid sitios as of June while there are 5,262 identified off -grid and remote areas for electrification as of November this year.

To fast-track the installation of microgrids, the bill simplifies the government permitting process and expedites specifically for microgrid systems the already-accelerated permitting process under Republic Act 11234 or the Energy Virtual One Stop Shop Act reducing the applicable time frames by half.

NEA proposed a budget of P1.7 billion to cover for next year’s electrification of 1,153 sitios.

“If the same amount is given by the national government every year, then it would take close to 10 years to electrify all these sitios. These sitios are bound to increase due to

population growth,” said Gatchalian.

Gatchalian also said the installation of microgrids would also spare the government billions of pesos in spending as it will allow private investors to enter the market.

“A hundred percent electrification will have an enormous impact on reducing energy poverty and help improve the overall quality of life of millions of Filipinos living in farflung rural areas,” he said.

Meanwhile, NEA Administrator Edgardo Masongsong reaffirmed the agency's commitment to complete its electrification program.

However, he said, the agency needs additional government subsidy to implement the Sitio Electrification Program in the coming years.

The NEA and all 121 electric cooperatives (ECs) have identified several measures in order to meet the full energization target by 2022.

These include accessing the En-

MRT trains run faster at 60 kph–exec

T

HE Met ro R a i l Tra nsit (MRT) Line 3 will run at 60 kilometers per hour (kph) before the end of the year, cutting headway by half, after the system’s maintenance provider successfully replaced the old rails of the train line.

MRT-3 Director for Operations Michael J. Capati said the increase in speed will result in headway— or the average waiting time in between trains­— of between 3.5 minutes to 4 minutes from 8 minutes to 9.5 minutes.

This also means that travel time from North Avenue station to Taft Avenue will be shortened

to only 50 minutes from the previous 1 hour and 15 minutes.

“The increase in train speed will provide our passengers a safer, faster and more reliable public transportation,” Capati said.

Sumitomo-Mitsubishi Heavy Industries was able to complete its rail replacement works in September this year, several months ahead of its scheduled completion in February 2021.

Capati noted that the rail line has been gradually increasing its train operating speed since October, when it increased the 30 kph speed to 40 kph. By November, speeds have averaged at 50 kph.

“During the first week of December, we have been performing test runs to ascertain the alignment and safety of railway tracks.

We are targeting to increase the train operating speed to 60kph in the entire revenue line before this year ends, when all system checks have been performed to ensure compliance to safety standards," Capati added.

The MRT-3's last run at 60 kph was in September 2013. After that, several incidents caused by poor maintenance led to the further deterioration of the train line, cutting its speed by half.

Lorenz S. Marasigan

Yanson matriarch’s group reelected to Vallacar board

T

HE group of the Yanson matriarch has been reelected to the board of directors of Vallacar Transit Inc., the country’s largest bus company, cementing their foothold on the firm gripped by feuding family members over the past two years.

“The newly appointed board is excited to see how they can continue to push boundaries to provide quality transportation to every Filipino despite the challenges of the pandemic,” the Vallacar board said in a statement.

The company said despite all the turbulence experienced by the management in the past two years, “the company remains strong and resilient as it continues to be steadfast in its goal to serve the Filipino commuters.”

The said meeting was held at its principal

office in Barangay Mansilingan, Bacolod City.

Family matriarch Olivia V. Yanson, Leo Rey V. Yanson, Ginnette Y. Dumancas, Charles M. Dumancas, Anita G. Chua, Arvin John V. Villaruel and Daniel Nicolas Golez were reelected as members of the board of directors during the meeting.

Leo Rey Yanson was reappointed as chairman of the board and president, while Olivia V. Yanson, the co-founder of the company, was re-appointed as corporate secretary and treasurer.

Stockholders Roy V. Yanson, Ma. Lourdes Celina Yanson-Lopez, Ricardo V. Yanson Jr., Juan Manuel Lopez and Ma. Susan F. Yanson did not attend the meeting.

Roy, Celina, Ricky with their sister Emily V. Yanson—called as the Yanson Four—did not attend the meeting.

The Yanson Four, the other group who wants to wrest control of the company, face outstanding warrants of arrest for various cases filed by the other camp including alleged carnapping and qualified theft, perjury and falsification of the company's general information sheet.

On July 7, 2019, the four Yanson siblings held a meeting and unseated Leo Rey as president of the bus company, with Roy Yanson, the eldest brother, taking over.

Leo Rey, with the support of his mother, Olivia V. Yanson and sister Ginnette Y. Dumancas, refused to step down.

A series of stockholders meeting of the units of Yanson bus groups between the two camps were held in the succeeding months after the incident, and each of them declared their own set of board of directors. VGCabuag

ergy Regulation No. 1-94 program, availing foreign grants and donations, using internally generated funds of ECs, or entering into a qualified third party agreement.

“Under the Qualified Third Party program, ECs can waive a part of their unviable areas to qualified private investors,” Masongsong said, adding that if there are no takers, the National Power Corp. may implement these projects through missionary electrification.

SMC turns over land titles to relocated families in Bulacan

By VG Cabuag @villygc

S

AN Miguel Corp. on Tuesday said it formally turned over land ownership titles to former residents of Sitio Kinse in Barangay Taliptip, who were relocated to give way to the conglomerate's multibillion international airport project.

They are part of the last batch of former residents to move out of the future site of San Miguel P740-billion airport project. They were able to buy land and build new homes in Barangay Bambang, Bulakan with the financial assistance provided to them by the conglomerate.

The company also helped them find the property they chose, construct their houses and secured for them electricity and water utilities connection. San Miguel said it also took care of processing the transfer of ownership and titling of properties to their names.

The turnover was held last December 3, the company said.

The former Sitio Kinse residents did not own the land where their houses on stilts stood. They also did not have access to water and electricity.

Immediately after the completion of construction, they decided to move into their new houses last October 31 before heavy rains and wind brought by Typhoon Ulysses reached many parts of Luzon, including Bulacan.

Many of the residents still rely on fishing but the conglomerate said it is providing them livelihood

and skills training opportunities through the Technical Education and Skills Development Authority.

Recently, the first 58 graduates of the TESDA courses completed their courses in shielded metal arc welding, electrical installation and maintenance, heavy equipment operations, dressmaking, and cookery.

About 12 graduates of the Heavy Equipment Operator course are set to be employed in the ongoing dredging project in Tullahan River and also the planned river channel improvement projects in Bulacan.

San Miguel provided a total of 277 owners of concrete and shanty houses in Barangay Taliptip with financial assistance. The company gave owners of non-concrete houses or shanties P250,000 each, while owners of concrete houses were given the appraised value of their homes, multiplied by two, plus P100,000.

San Miguel also provided cash assistance to 87 others who were disqualified, for a total of 364 beneficiaries.

Upon the request of Malolos Bishop Dennis Villarojo, San Miguel also distributed the total appraised cash value of abandoned chapels in Sitio Pariyahan, Sitio Dapdap, Sitio Bunutan and Sitio Capol to the 242 residents of these sitios.

Many decided to stay in Bulacan, but some of the residents decided to go back to their provinces Samar, Negros, Nueva Ecija, Sorsogon, Mindoro, Masbate, Camarines Sur, Malabon, Bataan Valenzuela, Parañaque, Dumaguete and Albay.

B2

Wednesday, December 9, 2020

Companies BusinessMirror

Producers: PHL has enough VCO to meet demand surge

T

By VG Cabuag

@villygc

HE United Coconut Associations of the Philippines (UCAP) said the country’s coconut industry has more than enough untapped capacity to meet the anticipated growth in demand for virgin coconut oil (VCO), which has shown to significantly reduce Covid-19 symptoms in tests.

The Department of Science and Technology (DOST) revealed recently that VCO significantly decreased symptoms in suspected and probable Covid-19 cases in as early as the second day of testing.

UCAP and VCO Producers and Traders Association of the Philippines are now encouraging government agencies like the Department of Health to support and promote Covid-19 natural alternative op-

tions.

“Coconut oils and the inherent medium-chain triglyceride (MCT) properties in it have long been recognized for their antiviral action,” UCAP Executive Director Yvonne Agustin said.

“Many who tested Covid-19 positive have recovered rapidly by incorporating coconut oil into their daily diet while those who are taking it as a supplement have seen

AllHome opens 49th branch in Bulacan

A

LLHOME Corp., the Villar Group’s listed retail arm, on Monday said it opened its 49th store located in Sta. Maria in Bulacan, its last store launch for the year.

The said branch was opened along with the Villar Group’s retail brands All Day Supermarket, All Day RX, Coffee Project and Bake My Day. The said store, located in Pulong Buhangin, the largest barangay in the municipality, right along the busy Norzagaray-Sta. Maria Road, is already the fourth in Bulacan province.

“Another distinct advantage to shoppers is the unique All Value retail ecosystem which offers a complete shopping experience for customers. The robust store line-up caters not only to the shopper’s home needs but also their daily essentials—even including the everyday cup of coffee,” All Home Chairman Manuel B. Villar Jr. said.

“With the All Value retail ecosystem present, customers can expect not only a complete but also an enjoyable and rewarding shopping experience during every visit,” he said.

With this new store, AllHome now has 38

stores in Metro Manila, 6 in Luzon outside Metro Manila, and 5 in the Visayas and Mindanao dispersed in 28 cities and municipalities.

Its new store features higher ceilings and rackings for the construction area for the professionals to get a better appreciation of its products.

There are also in-store consultancy service offered to homeowners who are currently building or fixing up their homes.

“Found inside the supermarket is All Day RX, All Day’s in-house pharmacy. All Day offers a complete selection of essential grocery items, a collection of imported goods, and a curation of wine, deli and cheese,” AllHome Vice Chairman Camille Villar said.

The supermarket implements strict health and safety protocols for both its employees and customers. It also has rigorous sanitation routines that are observed daily to ensure that its stores remain clean and safe for all shoppers.

The newest branch brings AllDay Supermarket’s store network to 25.

Coffee Project Sta. Maria is the brand’s 50th branch to date. VG Cabuag

their immunity strengthened,” she added.

VCO Philippines President Marco Reyes said VCO is an age old daily diet not only of Filipinos, but in other tropical countries in Asia, the Caribbean and Pacific Islands and Africa.

The Philippines still has more than enough supply of VCO even if there is an increase in demand during the pandemic.

UCAP and VCO Philippines data revealed that only 30 percent of the current capacity of 73,000 metric tons (MT) is being utilized. Local sales and export of VCO notched north of 20,000 MT in 2019.

The current local market consumes about 470 MT of VCO as of 2019 data. With renewed public interest in VCO, MCT and other coconut oils’ alternative health benefits, stakeholders are seeing a 20-percent growth in the demand by 2021.

The Philippine Coconut Authority, however, warned the public that unscrupulous manufacturers might ride on the current popularity of VCO and other coconut oils by producing bootleg or substandard

MUTUAL FUNDS

products. The PCA is encouraging consumers to buy only Food and Drug Administration-approved VCO brands.

Agustin lauded the DOST’s Food and Nutrition Research Institute result as positive proof to these claims.

A total of 58 quarantined patients, divided into two groups, were chosen to participate in the 28-day trial conducted by the FNRI at the Sta. Rosa Community Hospital in Laguna.

DOST Secretary Fortunato dela Peña said they noted significant reduction in the C-Reactive Protein or level of inflammation among the patients given VCO in as early as the second day of tests.

Ateneo de Manila Science Professor Emeritus Toby Dayrit, who helped craft the VCO testing protocol, earlier clarified that VCO is not the “Covid-19 silver bullet.” He said it should be taken as a food supplement.

Dayrit explained that “VCO is a functional food, people should take it as a vitamin, not a drug, and while taking it, they should still follow the same safety protocols.”

December 7, 2020

www.businessmirror.com.ph

PSE STOCK QUOTATIONS

December 7, 2020

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

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

44.5 44.6 44.6 44.6 44.5 44.6 6,400 285,380 209,620 108.9 109.5 108.9 109.5 107.7 109.5 3,882,970 422,702,668 72,592,446 82.75 83 84 84 82.4 83 3,170,520 263,126,807.50 -41,868,020.50 25.7 25.8 25.5 26 25.5 25.9 242,500 6,216,770 -577,015 11.34 11.36 11.5 11.6 11.3 11.36 1,626,900 18,512,170 -12,472,014 51.2 51.75 51 51.75 50.3 51.75 10,184,050 517,329,757 -72,302,295.50 9.71 9.8 9.65 9.81 9.65 9.71 6,600 64,128 19.94 22.9 20.7 23 20.7 22.9 11,700 268,435 30.15 30.2 30.5 30.55 30.15 30.15 309,600 9,370,205 -202,170 53 53.5 53 53.5 53 53.5 2,230 118,818 96.05 105 95.2 95.2 95 95 50 4,756 19.04 19.1 19 19.04 19 19.04 191,200 3,635,902 -530,068 134.8 134.9 134 135 132.8 134.9 1,487,870 198,952,227 88,848,597 66.7 66.8 65.55 66.7 65 66.7 42,590 2,828,798 667 0.88 0.95 0.91 0.95 0.85 0.95 58,000 51,500 28.3 28.4 27.7 28.4 27.7 28.3 6,900 194,355 3.7 3.71 3.83 3.84 3.7 3.72 84,000 316,370 1.31 1.32 1.29 1.35 1.29 1.32 214,000 282,850 0.335 0.35 0.335 0.35 0.335 0.335 330,000 110,700 790 800 790 790 790 790 90 71,100 71,100 0.65 0.67 0.67 0.68 0.67 0.67 261,000 175,170 156.4 156.5 157 157 155.5 156.5 4,560 714,971 -438,030 2,000 2,060 2,000 2,000 2,000 2,000 50 100,000 100,000

INDUSTRIAL AC ENERGY 6.13 6.15 6.27 6.27 6.13 6.13 16,050,400 99,015,460 -3,829,034 1.42 1.43 1.42 1.44 1.42 1.42 1,264,000 1,802,820 ALSONS CONS ABOITIZ POWER 27.45 27.5 27 27.45 26.8 27.45 2,646,500 72,230,250 -22,386,975 0.3 0.305 0.315 0.325 0.29 0.305 87,160,000 26,548,250 1,424,350 BASIC ENERGY FIRST GEN 27.75 27.8 27.9 27.9 27.4 27.8 2,689,200 74,698,270 -56,882,810 77.15 77.6 76.55 77.6 76.55 77.15 233,000 17,951,836.50 -10,006,767.50 FIRST PHIL HLDG 297 298 295 301.6 294.4 297 282,910 84,599,666 -15,193,250 MERALCO MANILA WATER 16.2 16.22 15.64 16.2 15.6 16.2 4,944,300 78,998,038 15,025,004 4.05 4.06 4 4.07 4 4.05 5,155,000 20,828,770 3,527,180 PETRON PETROENERGY 3.42 3.49 3.5 3.5 3.42 3.49 15,000 51,820 12.7 12.74 12.7 12.76 12.6 12.74 78,200 995,148 PHX PETROLEUM 22.2 22.25 21.3 22.55 21.3 22.25 1,861,300 41,229,440 4,961,005 PILIPINAS SHELL SPC POWER 10.98 11 10.78 11 10.5 11 1,432,400 15,350,664 82,776 13.9 14 14 14 13.9 13.9 800 11,140 VIVANT AGRINURTURE 8.47 8.5 8.6 8.6 8.43 8.5 337,900 2,878,929 -400,810 3.7 3.72 3.79 3.79 3.66 3.72 2,767,000 10,254,650 11,070 AXELUM 71.4 84.25 84.3 84.3 71.35 71.35 190 14,851.50 BOGO MEDELLIN CNTRL AZUCARERA 14.86 14.9 15.2 15.2 14.86 14.9 23,500 352,160 17.52 17.56 17.68 17.68 17.52 17.52 961,900 16,914,144 -9,850,202 CENTURY FOOD DEL MONTE 6.1 6.12 6.1 6.12 6 6.12 294,900 1,799,811 7.44 7.45 7.17 7.45 7.05 7.45 4,486,800 32,914,849 2,070,415 DNL INDUS EMPERADOR 10 10.06 10.06 10.08 10 10.06 6,329,800 63,456,022 421,674.00 SMC FOODANDBEV 68.75 69 69 71.5 68.4 69 269,800 18,703,553.50 -7,951,751 0.68 0.7 0.68 0.71 0.67 0.7 772,000 538,900 ALLIANCE SELECT FRUITAS HLDG 1.65 1.66 1.66 1.7 1.61 1.66 54,652,000 90,028,720 2,133,820 52.5 52.9 52.3 53.4 52.15 52.9 71,910 3,809,029 1,589,547 GINEBRA JOLLIBEE 208.8 209 207 209 205.2 209 849,270 176,408,552 24,843,220 LIBERTY FLOUR 55.6 59.2 58.9 59.7 55 59.2 9,540 540,143 34,371 8.18 8.71 8.81 8.81 8.81 8.81 100 881 MACAY HLDG MAXS GROUP 8.15 8.18 8.1 8.18 8 8.15 787,500 6,359,032 468,009.00 0.171 0.18 0.172 0.18 0.166 0.169 4,150,000 709,830 16,800 MG HLDG SHAKEYS PIZZA 8.43 8.45 8.56 8.56 8.3 8.42 227,500 1,900,852 8,320 ROXAS AND CO 1.3 1.31 1.35 1.35 1.3 1.31 6,349,000 8,346,740 -416,710 4.66 4.8 4.7 4.7 4.7 4.7 33,000 155,100 -112,800 RFM CORP ROXAS HLDG 1.79 1.85 1.85 1.85 1.85 1.85 17,000 31,450 0.115 0.118 0.118 0.118 0.118 0.118 120,000 14,160 SWIFT FOODS UNIV ROBINA 145.5 146.4 144 146.6 143.5 146.4 1,539,020 224,255,393 32,986,034 VITARICH 1 1.01 1.03 1.03 1 1.01 6,385,000 6,482,830 983,380 2.5 2.56 2.55 2.56 2.46 2.56 62,000 158,150 VICTORIAS CONCRETE A 57.25 57.3 58 58 57.3 57.3 150 8,665 54.1 59 58.05 61.75 54 59 2,870 167,606.50 CONCRETE B CEMEX HLDG 1.68 1.69 1.71 1.71 1.67 1.69 8,640,000 14,555,890 -103,790 5.05 5.15 5.2 5.2 5 5.05 91,100 459,286 DAVINCI CAPITAL 15 15.02 15.02 15.02 14.96 15.02 47,500 713,020 EAGLE CEMENT EEI CORP 7.82 7.9 7.9 7.96 7.8 7.9 502,600 3,958,515 -463,922 7.18 7.2 6.89 7.2 6.78 7.2 3,659,400 25,781,570 -2,081,975 HOLCIM MEGAWIDE 8.89 8.9 8.65 8.99 8.5 8.89 20,152,500 178,021,331 -13,175,621.00 8.69 9.12 8.6 9.14 8.5 9.14 2,800 24,142 PHINMA 0.82 0.85 0.86 0.86 0.82 0.85 168,000 140,350 8,500 TKC METALS VULCAN INDL 1.25 1.27 1.27 1.28 1.21 1.25 4,611,000 5,766,390 12,500 1.89 1.94 1.9 1.93 1.88 1.93 322,000 609,580 CROWN ASIA EUROMED 2.54 2.6 2.61 2.61 2.52 2.6 1,550,000 3,962,930 418,120 4.43 4.6 4.44 4.44 4.43 4.43 7,000 31,030 LMG CORP 4.6 4.69 4.68 4.69 4.68 4.69 13,000 60,910 -28,080 MABUHAY VINYL PRYCE CORP 5.25 5.27 5.1 5.27 5.1 5.25 81,700 428,943 -262,500 22.9 23 22.95 23.45 22.85 22.9 155,600 3,576,165 -2,485,410 CONCEPCION GREENERGY 2.55 2.56 2.56 2.58 2.48 2.56 16,123,000 40,479,000 -869,420 7.06 7.07 7.2 7.2 7.07 7.07 973,800 6,920,263 24,805 INTEGRATED MICR 1.14 1.15 1.15 1.2 1.14 1.14 3,698,000 4,298,190 -63,250 IONICS PANASONIC 5.2 5.41 5.44 5.44 5.2 5.2 2,100 10,944 1.51 1.54 1.52 1.55 1.51 1.54 1,196,000 1,829,860 SFA SEMICON CIRTEK HLDG 6.74 6.79 6.85 6.89 6.72 6.74 4,342,100 29,645,344 323,262

HOLDING & FRIMS ABACORE CAPITAL 0.63 0.64 0.65 0.65 0.62 0.64 16,413,000 10,403,780 69,500 8.5 8.66 8.49 8.69 8.34 8.65 12,100 102,647 42,250 ASIABEST GROUP AYALA CORP 850 860 864 864.5 845 860 559,280 479,720,695 -25,533,445 44.75 45.6 47.5 47.5 44.75 44.75 2,768,200 126,334,495 -57,268,870 ABOITIZ EQUITY ALLIANCE GLOBAL 10.56 10.58 10.16 10.56 10.14 10.56 21,469,100 224,148,862 52,256,482 3.16 3.18 3.09 3.18 3.08 3.18 6,546,000 20,644,400 6,059,360 AYALA LAND LOG 6.36 6.39 6.41 6.46 6.35 6.39 30,100 193,008 -32,160 ANSCOR ANGLO PHIL HLDG 0.69 0.72 0.69 0.72 0.69 0.72 7,000 4,860 0.99 1 0.97 1 0.95 0.99 11,192,000 10,991,460 ATN HLDG A ATN HLDG B 0.98 1.02 0.98 1.02 0.96 1.02 703,000 691,350 -340,810 5.63 5.64 5.64 5.72 5.61 5.63 3,645,500 20,679,851 -11,911,337 COSCO CAPITAL 6.03 6.06 5.8 6.07 5.78 6.03 11,931,800 71,019,369 38,792,286 DMCI HLDG FILINVEST DEV 9.35 9.52 9.35 9.54 9.25 9.52 31,200 292,103 0.208 0.217 0.205 0.205 0.205 0.205 100,000 20,500 FORUM PACIFIC GT CAPITAL 660 665.5 645 666.5 642 665.5 319,250 209,562,025 -2,363,480 4.16 4.18 4.2 4.2 4.18 4.18 43,000 179,760 HOUSE OF INV 70.95 71.15 72.2 72.2 70.35 71.15 1,806,970 128,904,328.50 17,409,121 JG SUMMIT JOLLIVILLE HLDG 4.95 5.13 4.94 5.36 4.94 5.14 40,000 211,500 4.97 5.27 4.31 5 4.31 4.94 6,000 29,632 KEPPEL HLDG A LODESTAR 0.81 0.82 0.82 0.82 0.8 0.82 243,000 195,400 3.7 3.71 3.73 3.73 3.71 3.71 10,454,000 38,845,660 -6,350,840 LOPEZ HLDG LT GROUP 13.56 13.58 13.7 13.7 13.46 13.56 2,317,200 31,328,412 2,589,186 MABUHAY HLDG 0.52 0.54 0.54 0.54 0.52 0.54 105,000 54,660 1.89 1.92 1.89 1.89 1.89 1.89 6,000 11,340 MJC INVESTMENTS METRO PAC INV 4.55 4.57 4.54 4.58 4.45 4.55 22,782,000 103,406,430 -14,301,140 3.85 3.87 3.9 3.9 3.84 3.85 49,000 189,630 92,880 PACIFICA HLDG PRIME MEDIA 0.86 0.88 0.86 0.88 0.85 0.86 344,000 294,680 -8,500 REPUBLIC GLASS 2.7 3 2.99 2.99 2.99 2.99 3,000 8,970 1.19 1.2 1.17 1.25 1.17 1.19 300,000 359,290 23,400 SOLID GROUP SYNERGY GRID 258 268 271 271 268 268 740 198,860 1,040 1,050 1,044 1,054 1,020 1,050 366,925 383,726,780 136,419,015 SM INVESTMENTS SAN MIGUEL CORP 134.2 134.3 132.9 134.9 132.9 134.3 597,000 80,239,740 -23,978,659 SOC RESOURCES 0.7 0.73 0.7 0.7 0.7 0.7 171,000 119,700 1.86 1.98 1.83 1.99 1.83 1.99 8,000 14,800 SEAFRONT RES TOP FRONTIER 146.7 147 149 149 143 147 12,060 1,746,713 -156,732 0.224 0.23 0.23 0.23 0.224 0.226 1,060,000 243,540 WELLEX INDUS ZEUS HLDG 0.174 0.177 0.17 0.178 0.17 0.177 2,090,000 365,590 -

NAV ONE YEAR THREE YEAR FIVE YEAR Y-T-D

PER SHARE RETURN* RETURN STOCK FUNDS ALFM GROWTH FUND, INC. -A 227.43 -9.52% -6.63% -1.58% -9.69% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.3102 -7.03% -5.78% 1.72% -5.2% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 3.1542 -15.04% -10.4% -3.02% -14.25%

PROPERTY CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.8135 - 9.91% -6.87% N.A. -9.41% ARTHALAND CORP 0.69 0.7 0.71 0.72 0.68 0.7 2,685,000 1,862,670 104,900.00 39.6 39.8 39.8 40.05 39.15 39.8 11,488,000 456,368,175 34,203,900 AYALA LAND FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.7553 -11.27% N.A. N.A. -11.07% ARANETA PROP 1.21 1.22 1.25 1.25 1.2 1.22 236,000 287,810 27.55 27.65 27.55 27.7 27.5 27.55 531,400 14,639,920 529,010 RT AREIT FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 4.9567 -6.6% -5.13% -1.35% -6.97% BELLE CORP 1.64 1.65 1.65 1.66 1.64 1.64 1,431,000 2,359,500 -1,409,720 0.87 0.88 0.9 0.9 0.87 0.88 2,151,000 1,885,520 -5,620 A BROWN FIRST METRO SAVE AND LEARN PHILIPPINE INDEX FUND, INC. -A,4 0.7648 -10.25% -7.84% N.A. -10.4% 0.8 0.81 0.8 0.8 0.78 0.79 217,000 170,720 CITYLAND DEVT CROWN EQUITIES 0.151 0.153 0.153 0.154 0.15 0.153 2,360,000 359,040 MBG EQUITY INVESTMENT FUND, INC. -A 98.83 -6.77% N.A. N.A. -4.26% 6.02 6.18 6.18 6.2 6.18 6.18 49,600 307,298 53,820 CEBU HLDG CEB LANDMASTERS 4.98 5 5.03 5.06 4.97 4.97 1,117,700 5,594,890 158,783 PAMI EQUITY INDEX FUND, INC. -A 46.8502 -8.44% -4.44% 0.08% -8.64% 0.49 0.495 0.485 0.495 0.485 0.495 7,620,000 3,732,650 -48,500 CENTURY PROP 0.34 0.345 0.325 0.35 0.325 0.345 22,800,000 7,773,900 CYBER BAY PHILAM STRATEGIC GROWTH FUND, INC. -A 489.42 -8.1% -4.51% -0.63% -8.14% DOUBLEDRAGON 15.24 15.26 14.92 15.34 14.92 15.24 3,100,800 47,174,148 -10,369,118 6.76 6.78 6.38 6.8 6.37 6.78 1,227,100 8,112,812 -61,620 DM WENCESLAO PHILEQUITY ALPHA ONE FUND, INC. -A,D,5 1.0827 N.A. N.A. N.A. 5.11% EMPIRE EAST 0.325 0.33 0.325 0.33 0.32 0.33 8,660,000 2,828,150 9,600 0.084 0.085 0.086 0.086 0.082 0.085 930,000 78,520 5,950 EVER GOTESCO PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.1627 -9.69% -4.81% -0.18% -9.65% 1.16 1.17 1.15 1.17 1.13 1.16 15,111,000 17,409,250 2,911,560.00 FILINVEST LAND GLOBAL ESTATE 0.91 0.93 0.92 0.92 0.91 0.91 330,000 303,300 PHILEQUITY FUND, INC. -A 34.642 -8.56% -4.19% 0.52% -8.59% 8.56 8.64 8.55 8.67 8.55 8.6 28,700 246,508 60,705 8990 HLDG PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A 0.9149 -10% N.A. N.A. -10.14% PHIL INFRADEV 1.59 1.6 1.62 1.62 1.59 1.59 3,223,000 5,159,120 510,720 0.71 0.73 0.73 0.73 0.71 0.71 116,000 84,170 CITY AND LAND PHILEQUITY PSE INDEX FUND INC. -A 4.7903 -8.05% -3.85% 0.84% -8.29% MEGAWORLD 3.98 3.99 4.02 4.04 3.93 3.98 14,831,000 59,058,900 -6,767,290 MRC ALLIED 0.51 0.52 0.54 0.54 0.5 0.52 121,347,000 62,612,500 -6,530,500 PHILIPPINE STOCK INDEX FUND CORP. -A 801.25 -7.83% -3.75% 0.74% -8.11% 0.4 0.42 0.425 0.425 0.425 0.425 350,000 148,750 PHIL ESTATES PRIMEX CORP 1.32 1.34 1.31 1.34 1.29 1.34 779,000 1,024,350 SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.7269 -15.51% -7.76% -3.27% -14.62% 19.56 19.58 19.22 19.56 18.9 19.56 6,676,600 128,773,578 5,670,086 ROBINSONS LAND PHIL REALTY 0.275 0.28 0.29 0.295 0.275 0.28 580,000 164,000 SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 3.6131 -14.18% -1.08% -14.16% -6.22% 1.57 1.58 1.56 1.58 1.55 1.58 1,533,000 2,392,290 -802,660 ROCKWELL 2.7 2.72 2.69 2.72 2.69 2.72 120,000 323,370 54,180 SHANG PROP SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 0.9173 -8.1% -4.09% 0.62% -8.34% STA LUCIA LAND 2.18 2.2 2.2 2.28 2.18 2.19 1,464,000 3,260,290 38.55 38.7 37.8 38.7 37.8 38.7 10,097,400 389,244,335 101,690,245 SM PRIME HLDG UNITED FUND, INC. -A 3.3224 -9.21% -3.65% 1.1% -9.06% VISTAMALLS 4.8 4.82 4.71 4.94 4.7 4.8 70,000 335,360 1.84 1.85 1.74 1.88 1.7 1.85 6,635,000 12,068,690 988,340 SUNTRUST HOME EXCHANGE TRADED FUND 38.1 44.95 38.1 38.1 38.1 38.1 100 3,810 PTFC REDEV CORP VISTA LAND 4.83 4.84 4.7 4.97 4.7 4.84 24,369,000 117,963,410 -17,028,330 FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C 107.5579 -7.72% -3.49% 1.52% -8.03%

SERVICES PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ABS CBN 12.2 12.3 12.18 12.34 12.16 12.2 491,800 6,014,754 6.01 6.03 5.91 6.04 5.9 6.01 2,201,300 13,167,743 GMA NETWORK ATRAM ASIAPLUS EQUITY FUND, INC. -B $1.1822 21.41% 2.94% 5.63% 14.96% MANILA BULLETIN 0.415 0.435 0.415 0.435 0.415 0.415 200,000 83,400 12.2 12.68 12.3 12.68 12.3 12.68 200 2,498 BRDCASTING MLA SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.632 21.93% 9.61% N.A. 18.37% GLOBE TELECOM 2,038 2,040 2,040 2,052 2,024 2,040 72,830 148,878,230 40,876,370 1,325 1,327 1,350 1,355 1,322 1,327 217,820 289,491,935 -100,659,155 PLDT BALANCED FUNDS 0.057 0.058 0.055 0.059 0.054 0.058 389,420,000 22,060,660 -560,280 APOLLO GLOBAL CONVERGE 15.88 15.9 16 16 15.82 15.9 2,941,000 46,742,934 -9,692,466 PRIMARILY INVESTED IN PESO SECURITIES 6.03 6.35 4.4 6.35 4.4 6.35 4,055,000 22,267,380 -493,280 DFNN INC DITO CME HLDG 7.61 7.62 7 7.64 7 7.61 130,417,000 965,289,378 31,562,598 ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.6622 6.44% -2.63% -0.74% 6.36% 1.37 1.45 1.37 1.37 1.37 1.37 3,000 4,110 IMPERIAL 0.112 0.115 0.115 0.116 0.112 0.115 4,960,000 567,380 ISLAND INFO ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.2795 3.55% -1.59% 1.31% 4.51% JACKSTONES 1.81 1.86 1.83 1.87 1.8 1.87 93,000 169,010 4.98 4.99 4.76 5.02 4.76 4.98 21,719,000 107,481,090 -708,410 NOW CORP FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.6319 0.46% -0.91% -0.68% 0.02% TRANSPACIFIC BR 0.305 0.31 0.325 0.325 0.31 0.31 19,940,000 6,274,700 212,050 FIRST METRO SAVE AND LEARN F.O.C.C.U.S. DYNAMIC FUND, INC. -A,1 0.1988 -13.11% N.A. N.A. -13% 2.99 3 2.98 2.99 2.92 2.99 1,571,000 4,673,940 -1,466,580 PHILWEB 9.2 9.22 9.23 9.3 9.13 9.2 54,600 503,814 -50,600 2GO GROUP NCM MUTUAL FUND OF THE PHILS., INC. -A 1.9665 0.43% 0.65% 1.98% 0.25% ASIAN TERMINALS 15.68 15.8 15.64 15.88 15.64 15.8 10,600 167,576 -117,016 5.78 5.79 5.55 5.79 5.54 5.79 10,076,700 57,183,446 -1,486,548 CHELSEA PAMI HORIZON FUND, INC. -A 3.7819 0.12% -0.11% 1.26% -0.19% CEBU AIR 51.25 51.3 51.3 51.75 50.5 51.3 668,050 34,156,005.50 -7,806,256 123.7 126 121 126 120.9 126 3,056,130 380,739,973 57,902,992 INTL CONTAINER PHILAM FUND, INC. -A 16.9099 0.05% -0.24% 1.18% -0.3% LBC EXPRESS 15.7 15.78 15.5 15.78 15.5 15.78 1,100 17,236 0.97 1.03 0.96 0.96 0.96 0.96 1,000 960 LORENZO SHIPPNG SOLIDARITAS FUND, INC. -A 2.0911 -1.66% -1.43% 0.92% -1.46% 7.91 7.92 8.01 8.01 7.8 7.91 5,138,200 40,603,068 1,165,742 MACROASIA METROALLIANCE A 2.15 2.16 2.19 2.19 2.13 2.15 793,000 1,699,870 SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.5648 -7.44% -2.78% -0.07% -7.73% 7.16 7.18 7.3 7.3 7.16 7.2 99,600 721,075 -245,050 PAL HLDG HARBOR STAR 1.66 1.67 1.71 1.71 1.62 1.66 6,615,000 10,988,150 921,630 SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D 1.0194 0.85% N.A. N.A. 0.36% ACESITE HOTEL 1.39 1.43 1.39 1.45 1.39 1.39 165,000 232,330 0.034 0.035 0.035 0.035 0.034 0.034 58,100,000 1,984,100 BOULEVARD HLDG SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D 0.9515 -4.06% N.A. N.A. -4.51% DISCOVERY WORLD 1.97 2 2 2 1.98 1.98 23,000 45,600 10.74 11.44 11.2 11.2 11.2 11.2 1,000 11,200 PLAZA GRAND SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D 0.9349 -5.48% N.A. N.A. -5.87% WATERFRONT 0.62 0.64 0.63 0.65 0.62 0.64 15,744,000 9,900,850 96,390 IPEOPLE 9 9.49 9 9 9 9 13,500 121,500 SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.8853 -9.02% -3.63% -0.88% -9.18% 0.395 0.4 0.4 0.405 0.395 0.4 3,410,000 1,363,450 -608,000 STI HLDG BERJAYA 5.02 5.15 5.23 5.39 5 5.15 514,000 2,616,451 PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES 8.63 8.7 8.55 8.81 8.55 8.63 3,802,100 33,071,635 -4,595,552 BLOOMBERRY PACIFIC ONLINE 2.02 2.06 2.05 2.05 2.01 2.01 37,000 75,400 COCOLIFE DOLLAR FUND BUILDER, INC. -A 2.18% 2.55% 1.93% 2.07% $0.03899 1.89 1.9 1.94 1.94 1.85 1.9 333,000 625,300 16,650 LEISURE AND RES 2.99 3 2.99 3.05 2.87 3 15,104,000 45,028,140 -1,621,110 PH RESORTS GRP PAMI ASIA BALANCED FUND, INC. -B $1.1314 14.18% 3% 4.81% 11.8% PREMIUM LEISURE 0.415 0.42 0.42 0.42 0.41 0.415 15,340,000 6,380,650 45,650 6.7 6.8 6.8 6.8 6.8 6.8 400 2,720 PHIL RACING SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $4.4198 15.37% 7.09% 7.13% 13.02% ALLHOME 8.48 8.5 8.3 8.54 8.3 8.5 2,801,400 23,799,466 1,842,081 1.65 1.66 1.67 1.67 1.65 1.66 2,235,000 3,716,890 116,200 METRO RETAIL SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A,3 $1.1876 6.5% 3.32% N.A. 5.22% 42.5 42.6 42 42.75 42 42.5 1,947,500 82,597,280 -20,622,100 PUREGOLD ROBINSONS RTL 68.65 68.7 68.35 69 68.35 68.7 311,570 21,425,986 51,550.50 BOND FUNDS 109.4 110.7 106.5 111 106.5 110.7 10,500 1,154,012 -23,310 PHIL SEVEN CORP SSI GROUP 1.68 1.69 1.71 1.77 1.69 1.69 15,513,000 26,644,160 -12,259,700 PRIMARILY INVESTED IN PESO SECURITIES 18.02 18.04 17.76 18.08 17.76 18.04 2,188,600 39,329,252 29,470,712 WILCON DEPOT 0.405 0.415 0.42 0.42 0.405 0.405 570,000 235,350 36,450 APC GROUP ALFM PESO BOND FUND, INC. -A 370.02 3.74% 3.2% 2.8% 3.37% EASYCALL 7.92 8.09 8.14 8.2 7.9 7.93 42,200 336,792 ATRAM CORPORATE BOND FUND, INC. -A 1.8976 -0.04% 0.13% 0.04% -0.23% 439.2 450 450 450 450 450 190 85,500 GOLDEN BRIA IPM HLDG 4.51 4.94 4.7 4.99 4.36 4.51 29,000 131,120 COCOLIFE FIXED INCOME FUND, INC. -A

3.2102 3.24% 4.56% 4.86% 2.96% 2.31 2.4 2.31 2.31 2.31 2.31 15,000 34,650 PAXYS 0.74 0.75 0.76 0.76 0.73 0.74 28,963,000 21,473,230 249,600 PRMIERE HORIZON EKKLESIA MUTUAL FUND INC. -A 2.2921 3.48% 2.88% 2.38% 3.09% SBS PHIL CORP 5.09 5.15 5.07 5.15 5.07 5.15 6,600 33,830 FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.4471 4.2% 3.4% 2.09% 3.73%

MINING & OIL ATOK 8.5 8.59 8.55 8.84 8.5 8.59 99,700 856,872 PHILAM BOND FUND, INC. -A 4.6281 6.58% 4.58% 3.13% 5.84% APEX MINING 1.8 1.81 1.85 1.86 1.8 1.8 10,540,000 19,135,990 -352,820 0.0014 0.0015 0.0011 0.0015 0.001 0.0015 43,499,000,000 54,501,600 -568,200 ABRA MINING PHILAM MANAGED INCOME FUND, INC. -A,6 1.3167 5.24% 4.4% 2.58% 4.77% ATLAS MINING 6.23 6.29 6.14 6.3 6.12 6.29 641,800 3,986,733 -1,174,620 3.03 3.15 3.18 3.18 3.18 3.18 10,000 31,800 BENGUET A PHILEQUITY PESO BOND FUND, INC. -A 3.9714 5.34% 4.42% 2.78% 4.84% 3 3.1 3.01 3.1 3 3.1 15,000 45,180 -33,080 BENGUET B COAL ASIA HLDG 0.295 0.3 0.295 0.305 0.295 0.3 1,930,000 573,600 SOLDIVO BOND FUND, INC. -A 1.0362 8.42% 3.98% 2.57% 7.46% 2.35 2.36 2.41 2.44 2.34 2.35 339,000 807,400 CENTURY PEAK DIZON MINES 8.17 8.39 8.39 8.39 8.17 8.39 1,600 13,201 SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 3.188 4.62% 4.67% 3.57% 3.65% 2.24 2.25 2.26 2.29 2.22 2.24 8,257,000 18,500,880 1,887,360 FERRONICKEL 0.249 0.255 0.26 0.265 0.25 0.255 2,050,000 514,700 229,100 GEOGRACE SUN LIFE PROSPERITY GS FUND, INC. -A 1.743 3.42% 3.97% 2.87% 2.46% LEPANTO A 0.152 0.153 0.156 0.156 0.151 0.152 36,760,000 5,615,160 0.151 0.153 0.156 0.156 0.153 0.153 3,420,000 531,080 -218,400 LEPANTO B PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES MANILA MINING A 0.0094 0.0096 0.0093 0.0095 0.0093 0.0094 13,000,000 123,000 0.01 0.011 0.01 0.01 0.01 0.01 7,400,000 74,000 -10,000 MINING B MANILA ALFM DOLLAR BOND FUND, INC. -A $482.79 3.37% 2.71% 2.93% 3.08% 1.23 1.24 1.24 1.27 1.23 1.24 7,033,000 8,774,990 591,370 MARCVENTURES NIHAO 2.87 2.9 2.86 2.93 2.86 2.9 229,000 659,690 100 ALFM EURO BOND FUND, INC. -A Є218.73 -0.4% 0.74% 1.16% -0.48% 4.75 4.76 4.79 4.81 4.69 4.76 7,237,000 34,375,710 1,283,320 NICKEL ASIA OMICO CORP 0.38 0.385 0.36 0.38 0.36 0.38 1,600,000 592,100 ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.2715 5.51% 3.88% 3.02% 5.33% 583,000 400,660 ORNTL PENINSULA 0.68 0.7 0.68 0.7 0.68 0.7 PX MINING 5.09 5.1 5.05 5.21 5.04 5.09 11,659,700 59,329,859 2,687,440 1.75% 2.71% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0265 2.71% 1.96% SEMIRARA MINING 12.54 12.6 12.1 12.62 12.08 12.54 3,954,500 48,737,514 -8,141,700 0.0053 0.0057 0.0052 0.0057 0.0052 0.0057 22,000,000 122,800 -56,600 UNITED PARAGON PAMI GLOBAL BOND FUND, INC -B $1.0905 -0.44% 0.39% 0.8% -0.28% ACE ENEXOR 10 10.1 9.2 10.2 9.18 10 859,900 8,484,476 1,010 0.01 0.011 0.011 0.011 0.01 0.01 24,000,000 247,200 ORNTL PETROL A PHILAM DOLLAR BOND FUND, INC. -A $2.5267 5.51% 3.96% 3.67% 5.13% ORNTL PETROL B 0.01 0.011 0.01 0.01 0.01 0.01 300,000 3,000 PHILEQUITY DOLLAR INCOME FUND INC. -A $0.0621932 3.2% 2.69% 2.31% 3.14% 0.0085 0.0086 0.0084 0.0087 0.0084 0.0085 75,000,000 636,100 PHILODRILL 13.5 13.6 13.4 13.68 13.22 13.6 1,612,900 21,693,280 2,610,716 PXP ENERGY SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $3.2014 1.11% 2.03% 2.46% 0.83%

PREFFERED MONEY MARKET FUNDS HOUSE PREF A 101 101.5 101.9 101.9 101.9 101.9 10 1,019 513 515 515 515 515 515 50 25,750 AC PREF B1 PRIMARILY INVESTED IN PESO SECURITIES AC PREF B2R 500 509.5 500 500 500 500 59,500 29,750,000 101.8 102 101.8 101.8 101.8 101.8 1,140 116,052 CPG PREF A ALFM MONEY MARKET FUND, INC. -A 129.63 3.27% 3.33% 2.57% 3.02% DD PREF 101 101.5 102 102 101 101 2,090 211,155 510.5 517.5 517.5 517.5 517.5 517.5 50 25,875 GLO PREF P FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A 1.0472 1.72% N.A. N.A. 2.04% 999 1,007 1,001 1,001 998 998 1,000 998,760 GTCAP PREF A GTCAP PREF B 1,029 1,032 1,029 1,029 1,029 1,029 60 61,740 SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.2949 2.61% 2.99% 2.62% 2.36% 100.3 100.6 100.6 100.6 100.5 100.5 35,990 3,620,424 1,006 MWIDE PREF MWIDE PREF 2A 97.35 99.9 97.35 97.35 97.3 97.3 500 48,660 PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES 98.4 98.45 98.4 98.45 98.35 98.45 13,190 1,297,927.50 59,040 MWIDE PREF 2B 99.5 100.5 100.5 100.5 100.4 100.4 1,050 105,425 PNX PREF 3A SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.0517 1.51% 1.73% N.A. 1.29% PNX PREF 3B 102 104.9 104.9 104.9 102 102 490 50,649 997 999 998 998.5 998 998.5 90 89,845 PNX PREF 4 FEEDER FUNDS PCOR PREF 2B 1,005 1,029 1,029 1,029 1,000 1,029 1,090 1,095,515 1,069 1,070 1,069 1,070 1,069 1,069 1,550 1,657,450 PCOR PREF 3A PRIMARILY INVESTED IN PESO SECURITIES 1,110 1,113 1,114 1,114 1,114 1,114 70 77,980 PCOR PREF 3B SFI PREF 1.51 1.8 1.8 1.8 1.8 1.8 2,000 3,600 SUN LIFE PROSPERITY WORLD EQUITY INDEX FEEDER FUND, INC. -A,D,7 1.1069 N.A. N.A. N.A. N.A. 78.65 79 78.7 79 78.65 79 5,430 428,688 SMC PREF 2C SMC PREF 2F 77.3 78.75 78 78 78 78 9,100 709,800 PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES 76.05 76.25 76.25 76.25 76 76.25 14,250 1,084,312.50 SMC PREF 2H SMC PREF 2I 76.8 77 77.2 77.2 77 77 13,390 1,031,042 ALFM GLOBAL MULTI-ASSET INCOME FUND INC. -B,D,2 $0.98 N.A. N.A. N.A. -1.01% 75.55 76 76.15 76.15 76 76 37,700 2,865,796 SMC PREF 2J

A - NAVPS AS OF THE PREVIOUS BANKING DAY. B - NAVPS AS OF TWO BANKING DAYS AGO. C - LISTED IN THE PSE. D - IN NET ASSET VALUE PER UNIT (NAVPU).

1 - LAUNCH DATE IS SEPTEMBER 28, 2019. 2 - LAUNCH DATE IS NOVEMBER 15, 2019. 3 - ADJUSTED DUE TO STOCK DIVIDEND ISSUANCE LAST OCTOBER 9, 2019.

4 - RENAMING WAS APPROVED BY THE SEC LAST OCTOBER 12, 2018 (FORMERLY, ONE WEALTHY NATION FUND, INC.). 5 - LAUNCH DATE IS DECEMBER 09, 2019.

6 - RE-CLASSIFIED INTO A BOND FUND STARTING FEBRUARY 21, 2020 (FORMERLY A MONEY MARKET FUND). 7 - LAUNCH DATE IS JULY 6, 2020.

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

PHIL. DEPOSITARY RECEIPTS

ABS HLDG PDR 12.5 12.9 12.98 12.98 12.5 12.92 51,900 669,290 644,732 5.7 5.74 5.63 5.74 5.63 5.74 697,000 3,973,617 -280,940 GMA HLDG PDR

WARRANTS LR WARRANT 1.01 1.03 1.03 1.04 1.01 1.01 239,000 246,020 5,150

SMALL & MEDIUM ENTERPRISES ALTUS PROP 14.7 14.8 15.02 15.46 14.6 14.7 1,016,700 15,100,240 -967,104 2.98 2.99 3.09 3.1 2.91 2.99 6,376,000 19,131,020 -3,349,390 ITALPINAS KEPWEALTH 6.29 6.3 6.32 6.32 6.2 6.29 47,700 299,009 2.49 2.73 2.73 2.73 2.73 2.73 25,000 68,250 MAKATI FINANCE MERRYMART 5.92 5.93 6.08 6.08 5.85 5.92 25,148,900 149,565,242 -31,022,884

EXHANGE TRADE FUNDS

FIRST METRO ETF 108.3 108.4 106 108.5 105.7 108.3 26,610 2,848,283 236,338

www.businessmirror.com.ph

Entrepreneur

Passion Venture Capital launches $30-M lending fund for SMEs

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he Passion Trade Credit Insured Lending Fund (PTCI Lending Fund) will provide trade receivables financing to Philippine small and medium enterprises.

The fund will start at $30 million and anticipated to grow over the next months. After the launch of the fund, PVC plans to enlist global financial institutions such as World Bank, International Finance Corp. and Asian Development Bank to support the SME value chain. The fund also plans to expand across emerging markets in Asia.

Anticipated demand in trade financing in Asia is still a massive unmet market and expected to grow in the next two years. This facility requires all transactions to be covered by trade credit insurance (TCI).

“The fund is leveraging on trade credit insurance, as it’s a great value add to both obligors and investors as it assists to reduce/eliminate the obligor’s collaterals requirements and gave credit assurance to investors, and provide an optimal risk return to all relevant parties,” said Davy Goh, CEO of Passion Venture Capital, MAS-regulated Fund Manager.

The fund has partnered with insurance broker Philinsure to provide sound technical risk management and insurance advice to ensure SMEs get the best options for trade credit insurance. The fund has also partnered with Vesl, a digital platform that enables businesses to access pay per invoice trade credit coverage.

This will make TCI affordable even for small businesses.

“With trade credit insurance being an integral component of the fund, we make sure that our clients and prospects that are interested in getting access to the fund have full knowledge of their trade credit policy’s coverage, terms, conditions and limitations,” Julian Thomas A. Sese, Assistant Vice President of Philinsure, said.

In line with the Department of Trade and Industry’s (DTI) new initiative for women, She Trades PH, and in cooperation with the Philippine Commission on Women, the PTCI Lending Fund is poised to allocate at least 15 percent to women led SMEs and exporters.

“Filipino businesses have learned to be resourceful in dealing with this pandemic. It is important to provide flexible and alternative financing options especially to women entrepreneurs/exporters during this pandemic,” DTI Undersecretary Abdulgani M. Macatoman, Trade Promotions Group, for his past, said.

“Given the Covid-19 situation, there are many great Philippine companies that are undergoing payment delays from customers—we want to support these companies to ride through this economic period. At the same time, with Global K-Shaped economic growth, there are companies that need expansion capital, we want to support these Philippine companies grow as well,” said Davy Goh, CEO of Passion Venture Capital, MAS-regulated Fund Manager.

About Passion Venture Capital

PVC is a Capital Market Services licensed Fund Manager in Singapore, founded by Davy J. Goh. Davy has more than three decades of business, banking and finance industry experience serving both local and international companies. His passion with investing and growing Fintechs and innovative businesses led him to start PVC.

About Philinsure

Philinsure, a most reputable, fast-growing and well-managed insurance broker in the Philippines, is the only insurance brokerage with major national presence, having four offices nationwide—Ortigas, Makati, Cebu and Davao. Philinsure is in partnership with Gallagher, a fortune 500 company and 4th largest broker worldwide, who has been part of the World’s top 100 most ethical companies consecutively for the last nine years.

BusinessMirror

Editor: Vittorio V. Vitug • Wednesday, December 9, 2020 B3

Stevia queen blazes new path to market health, wellness product amid pandemic

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By Erica Torres

o keep businesses afloat amid the Covid-19 pandemic, companies must learn to promote health and wellness and innovate products to retain jobs of employees.

These are the realizations of entrepreneur and health advocate Maura de Leon, popularly dubbed as the queen of stevia, who pioneered Sweet and Fit, the country’s first sweetener extracted from the stevia plant.

“The pandemic is pushing people to be conscious of their health, and opt for organic products,” said de Leon in an interview with The BusinessMirror. “The market behavior change should serve as an opportunity to improve products, and help our employees keep their jobs during the crisis.”

Stevia plant belongs to the sunflower family and can be used as a healthy alternative to sugar. The leaves of the South American shrub have been used to sweeten beverages in countries like Brazil and Paraguay.

De Leon started stevia farming in Bocaue and Pandi in Bulacan, heeding the advice from a friend, with an initial 50 employees. The farms

have grown to over 200,000 stevia plants now.

New skills

The company aims to provide farmers with new skills by providing them training and hands-on assistance in preparing farm, and seedlings.

Over the years, the number of stevia farmers has grown to 200 and de Leon’s company is now supporting 50 scholars in Bicol and Pangasinan.

She obtained a certificate of registration from the Food and Drug Administration (FDA) in 2008 and started the Sweet and Fit, the first Philippine sweetener extracted from powdered Stevia plant under her company, Glorious Industrial and Development Corp. (GIDC).

Tie ups with start-ups

De Leon said introducing a local organic sweetener was not easy as she had to compete with popular imported brands. Such challenge

inspired her to explore partnerships with local food brands by attending trade shows, food bazaars, as well as sports and wellness lectures.

The company applied for assistance to put up research and development (R&D) from the Department of Science and Technology (DOST) to help the company develop new products.

The initiative helped the company develop new line of food and non-food products. “The acceptance is wide because of the ISO 9000 accreditation,” said de Leon.

“It is important to reach out, and to partner particularly with local start-ups so we can strengthen our businesses together,” said de Leon.

Main drivers of success

The International Labor Organiza-

tion (ILO) score program survey conducted last June revealed that micro-, small, and medium-sized enterprises (MSMEs) have been hit the hardest during the pandemic. But the sector matter most during the crisis as it represents more than 70 percent of global employment and 50 percent of gross domestic product.

The ILO survey cited that seven out of ten MSMES are the first that have to reduce production and retrench workers. It cited that MSMEs have also asked workers to take unpaid leave, work for reduced pay (20 percent of those surveyed), or even by laying off permanent staff (10 percent of those surveyed).

Also, at least one-third, or 30 percent, of MSMEs report a shortage of workers resulting from containment measures, family care responsibili-

ties, or fear of infection. These are alarming statistics for those concerned about working conditions in MSMEs, said the ILO. De Leon said product innovations R&D and ISO 9000 accreditation helped her company afloat, and even expanded even during the pandemic.

“Our advocacy to help farmers and their families continue to inspire us to be strong despite the challenges of the pandemic,” said de Leon.

The GIDC has been able to hire additional 5,000 members of Sangguniang Kabataan as marketing officers for the new products.

“Behind the success of stevia are the farmers and their families who continue to have improved lives, and the local consumers who gain from health benefits of organic sweetener,” said de Leon.

Helping entrepreneurs bounce back from the Covid-19 fallout

By Isabela Blancas

Bazaar happening on December 11, 12 and 13. The online event features live interviews with participating entrepreneurs and artists.

There are also exclusive interviews with Pinoy fashion icons Lesley Mobo, Ken Samudio, Resty Lagare, Jojo Bragais, Zarah Juan and Victor Baguilat Jr. (Kandama Collective). These interviews aim to inspire entrepreneurs and other viewers with the success stories of these designers.

For the trunk show, Mindanao’s finest designers Melvin Lachica of Cagayan de Oro and Edgar Buyan and Steffy de Mylo of Davao will be joined by fashion entrepreneurs from Butuan and Agusan del Norte, namely my One Closet, Johnbert Hubahib, Tine Montejo, Gina Bagasbas and The Trading Post.

My fervent Christmas wish is that there will be many people buying from this online bazaar. Because of this, many of the struggling and even dying enterprises will be given a new lease of life.

Founder of Social Enterprise One Closet

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his pandemic has taken its toll on many enterprises as well as freelance artists. Many of them have lost clients leading to the loss of staff and the lack of profit.

Unfortunately, we at One Closet are no exception to this problem. My gown rental shop has been closed since mid-March. We can relate with fellow entrepreneurs. We feel their struggle.

My family had also fallen victim to Covid-19, and by God’s grace was healed. Kind people helped us by giving us Chinese medicines and by assisting us with hospital bills. We are very grateful to them and we decided to pay their kindness forward.

My social enterprise One Closet lives for lending a helping hand to those who need it. At the onset of the pandemic, with the help of our network of donors, fashion designers and seamstresses, we embarked on making personal protective equipment (or PPE suits) that we donated to frontline doctors and nurses in Luzon and Mindanao. It was purely charity work. But this time we want to provide an opportunity to fellow entrepreneurs and artists to recover some of their losses.

We thought of holding a Christmas bazaar in Butuan City, my home-

Entrepreneurs and fashion designers will hold a Christmas Pinoy Online Pop-up (P.O.P.) bazaar on December 11, 12 and 13. Photos above show models sporting some of the fashion items on sale bags, dresses and necklace creations, among others.

town. A segment of this event will be a trunk show, a fashion show that features dresses, bags and fashion accessories that are for sale. This was actually my proposal for Hackbang, an online hackathon that happened

in the middle of this year. Hackbang Pilipinas, the organization behind the hackathon, is helping us bring this concept to reality. When my family got sick with the virus, we decided to shift the event to online.

Entrepreneurs from Butuan, Agusan del Norte, Cagayan de Oro, Davao and Luzon have signed up to sell (from food to fashion to artworks) at the Christmas Pinoy Online Popup (P.O.P.).

Isabela Blancas founded One Closet when she was 13. It is a social enterprise based in Butuan City that rents out pre-loved dresses donated by fashion designers and celebrities. A portion of their profit goes to helping marginalized children in Butuan and Agusan del Norte with their education. One Closet also produces events for a variety of causes.

App to help women entreps expand business into new markets launched

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ilipino women entrepreneurs can build strong networks and strike business deals as they expand globally through the SheTrades Philippines hub, the first in Asia.

The Department of Trade and Industry-Export Marketing Bureau (DTI-EMB) and the International Trade Centre (ITC) launched the hub during the National Export Congress (NEC) on Thursday. “We can do a lot together to bolster the international competitiveness of Filipino women owned businesses in the Philippines and to support them to tap into regional and global value chains,” ITC Executive Director Pamela CokeHamilton said.

Coke-Hamilton said the hub’s launching was “timely” as the micro, small and medium enterprises (MSMEs) are in dire need of additional support to overcome the challenges posed by the Covid-19 crisis.

She cited data from the ITC survey showing that MSMEs in the Philippines were twice as likely as large firms to anticipate business closure within three months, and 9 percent of companies expected to shut down permanently due to the crisis.

She said Covid-19 has accelerated adoption of digital technologies, which requires women-led MSMEs to invest in digital solutions to reach more consumers and keep pace with shifting consumer demand.

Coke-Hamilton said SheTrades hub implemented a digital transformation program which supports women-owned businesses to access available technologies, promote digitization, as well as digitalization.

The hub also provides opportunities to them for networking, learning through virtual space, and connections to online buyers, she said.

“By joining the hub, they will also become part of a global SheTrades network comprising more than 20,000 women-owned businesses from about hundred different countries,” she added. “We know that with adequate support and networks, women-led businesses can play a major role in the economic recovery

and job creation in the Philippines,” Trade Undersecretary Abdulgani Macatoman said.

SheTrades Philippines hub is envisioned to support existing and aspiring women entrepreneurs to widen their network, sell products and services, and access the learning program and market tools to enhance their participation in international trade.

“We support this initiative and we look forward to continue working together in helping our MSMEs, especially our women entrepreneurs, reach their full potential in the global market,” he said.

DTI Undersecretary for regional operations group Blesila Lantayona

said they hope to address the challenges brought about the pandemic, particularly to exporting enterprises. “This collaboration actually really excites us with the opportunities to further develop the capacities of our women MSMEs to export. We already have a number of programs on this and we have to make sure that these complement, they prepare our women entrepreneurs to really jump to the next level which is being offered by SheTrades,” she said.

Meanwhile, SheTrades aims to connect 3 million women entrepreneurs to markets by 2021. To join, women entrepreneurs need to register at SheTrades.com and download the mobile app.

Banking&Finance BusinessMirror

Wednesday, December 9, 2020

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Extending tax amnesty seen to raise additional revenues

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By Cai U. Ordinario

@caiordinario

he government would be able to raise additional revenues and give taxpayers some reprieve if the Tax Amnesty Act is extended, according to the National Tax Research Center (NTRC).

The Tax Amnesty Act or Republic Act (RA) 11213 signed by the President last year sets a December 31, 2020, deadline for taxpayers to settle their delinquencies.

However, the NTRC said there is merit to extending the law, espe-

cially considering the impact of the ongoing pandemic on the economy.

“The Tax Amnesty Act, if extended, aside from possibly generating more revenues that can be used by the government, can provide tax relief to the taxpayers and enough time to

avail of the tax amnesties given this pandemic,” the NTRC said in a study.

The NTRC noted that one of the advantages of granting tax amnesty is the generation of short-run revenues.

In 2019, NTRC said, around 14,122 taxpayers availed of tax amnesties. It added that most of the revenues generated from RA 11213 were from tax amnesty delinquencies despite a smaller number of availers.

In June, the Bureau of Internal Revenue (BIR) extended the deadline for the tax amnesty on delinquencies to December 31 this year despite the shortfall in government revenues due to the pandemic.

The extension, BIR Deputy Commissioner Arnel SD. Guballa told the BusinessMirror, would give delin-

quent taxpayers more time, given that “many are restricted because of the lockdown.”

BIR Commissioner Caesar R. Dulay announced the extension of the deadline for availment of tax amnesty on delinquencies through Revenue Memorandum Circular 612020 dated June 9.

The circular said the extension was done “in consideration of the current circumstances prevailing in the country in relation to the World Health Organization’s declaration of Covid-19 Global Pandemic.”

This was not the first time that the BIR extended the deadline of availment of tax amnesty on delinquencies, citing the imposition of the enhanced community quarantine in Metro Manila and other major provinces.

Auto loans decline in 1st qrtrly contraction by ₧6B

By Bianca Cuaresma @BcuaresmaBM

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oans dedicated to the purchase of automotive vehicles declined at height of lockdowns due to the pandemic in the second quarter of the year, data from the Bangko Sentral ng Pilipinas (BSP) showed.

Motor vehicle loans declined by about P6 billion to P591.6 billion in end-this year from the P597.2 billion in end-March this year.

Historical data from the BSP showed this is the first quarterly con-

traction of auto loans in more than a decade or since the third quarter of 2008.

Despite the lower volume of loans during the period, the BSP recorded higher non-performing loans in the second quarter of the year compared to the previous quarter.

Non-performing loans (NPL) are more popularly known as “bad” or “soured” loans as they are unpaid loans way beyond their due date.

Out of the P591.6 billion auto loans during the period, P31.7 billion are bad loans. This is higher compared to March’s numbers where,

out of the P597.2 billion, P27 billion were bad loans.

By percentage, the ratio of NPL auto loans to the total auto loans during the period is at 5.35 percent, up from 4.53 percent in the previous month. This is the highest NPL ratio of automotive loans since March 2008 when it hit 5.56 percent.

Auto loans’ NPL is higher than the average NPL of the Philippine banking system, which is at 3.6 percent in end-September this year.

Earlier this year, S&P Global Ratings warned that secured re-

tail loans such as mortgages and auto loans will see some stress as unemployment rises, the credit watcher said.

S&P Credit Analyst Nikita Anand earlier said that the Philippine banking sector is expected to see low-single-digit credit growth, rising nonperforming loans and credit costs, and declining profitability for the rest of the year.

Anand said they forecast a 2 percentage point rise in the overall nonperforming assets, including restructured loans and repossessed assets, to 5.4 percent for the year.

Goldman Sachs closer to be 1st with China JV

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oldman Sachs Group Inc. is inching closer to becoming the first Wall Street bank with 100-percent ownership of its securities joint venture in China, paving the way for an aggressive expansion as the Asian nation opens its $50-trillion financial market wider to foreign firms.

The New York-based bank has started the process of getting clearance from regulators to take full control of Goldman Sachs Gao Hua and signed a definitive agreement with its partner to buy the 49 percent of the venture it doesn’t own, according to an internal memo. A Hong Kongbased spokesman at Goldman Sachs confirmed the contents.

The move will end Goldman Sachs’s 17-year collaboration with Beijing Gao Hua Securities and gives the firm free rein to pursue an expansive growth strategy that includes boosting its workforce in China to 600 and ramping up in asset and wealth management. Wall Street giants are rushing to gain a bigger foothold as China’s market opens, jostling to capture a share of

Goldman Sachs Group Inc. headquarters stands in New York, on July 12, 2020. Goldman Sachs is scheduled to release earnings figures on July 15. BLOOMBERG

profits that are estimated to swell to $47 billion in investment banking alone by 2026.

Full ownership “of our franchise on the mainland represents a significant commitment to and investment in China,” CEO David Solomon, President John Waldron and Chief Financial Officer Stephen Scherr

said in the memo.

The internal announcement comes amid rising tension between China and the US, with sanctions being imposed on a string of Chinese officials and restrictions on investments. US lawmakers have also started to question the push by big banks into China, which is counting

on investments to help transform its export-led economy.

Others are also gunning for full ownership, including JPMorgan Chase & Co., which last month boosted its stake in its venture to 71 percent. JPMorgan has already obtained approval to take full ownership of a futures venture in the country.

The time period of the application process in China is unclear, but it took Goldman Sachs about seven months to win the nod for majority control.

Taking full control in China would bring the firm closer to its vision of being “one Goldman” in all markets.

As part of the progression to full ownership, the firm will migrate all onshore businesses currently under Gao Hua across to the venture, which will be renamed Goldman Sachs (China) Securities Co. Ltd. That includes moving its non-investment banking businesses such as wealth management and securities trading into the new wholly owned company. The current venture handles advising companies and stock and bond issuance. Bloomberg News

www.businessmirror.com.ph

LGUs to receive annual interest subsidy on loans

By Tyrone Jasper C. Piad @Tyronepiad

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he national government, through the state-run Land Bank of the Philippines, is granting an annual interest rate subsidy of 2 percent on new and existing loans extended to local government units (LGUs) for their Covid-19 response.

The interest subsidy is among the provisions under Republic Act 11494 or the Bayanihan to Recover As One Act. To recall, LandBank has received a P1-billion allocation from the national government for the interest subsidy fund in loans applied for

by LGUs. The loan interest payments of municipal, city, and provincial LGUs until December 31, 2022, or until the fund is fully used, will be given the said relief.

A maximum of interest subsidy amounting to P10 million was set for city and provincial LGUs while P5 million was for municipalities.

“We strongly encourage our LGUs to make full use of credit facilities subsidized by the national government to bankroll development projects in their respective localities.” LandBank President and CEO Cecilia C. Borromeo said. “This will contribute greatly to reviving local economies and helping the country recover from the impact of the Covid-19 pandemic.”

LandBank said that qualified LGUs may avail of the loan interest subsidy for eligible projects, including purchase of agricultural produce, acquisition of equipment and construction of facilities for linking of products to the market, among others.

LGUs whose proceeds of borrowings were for programs and projects that provide basic and support services, social welfare and healthcare, and other infrastructure activities are also allowed to apply for the interest subsidy.

LandBank set the fixed interest rate on these loans at 4 percent until end-2022. The interest rate is subject to annual repricing according to the benchmark rate and the applicable credit spread. It shall not be lower than 4 percent per annum.

The LGUs may settle their loans up to 15 years, which include three years of grace period.

The interest rate subsidy is available to the loans approved under LandBank’s RISE UP LGUs (Restoration and Invigoration package for a Self-sufficient Economy towards Upgrowth for LGUs) lending program. It was launched last July to boost economic recovery plans of the LGUs amid the pandemic.

As of end-November, the staterun bank approved P52.27-billion worth of loans under this program, benefiting 156 LGUs. Of this amount, LandBank has released P383.5 million to three LGUs.

Banks’ combined market cap wanes by 3.7% in Q3

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he market capitalization of the top banks worldwide is yet to recover to pre-pandemic levels, a Spanish blog said.

According to the research data analyzed and published by Comprar Acciones, the top 25 banks globally shed a collective $0.1 trillion in market cap during Q3 2020. From $2.7 trillion in the second quarter of the year, it dropped to $2.6 trillion in the third quarter, a 3.7-percent drop.

While most business segments have been seesawing since the start of 2020, Equity Capital Markets (ECM) have thrived throughout. According to a study by Refinitive, global ECM activity shot up by 59 percent in the first nine months of 2020 to reach $750.7 billion.

The top bank by market capitalization during the third quarter of the year was JP Morgan Chase. It grew by 2.4-percent QoQ to a market cap of $293.4 billion.

On the other hand, Charles Schwab had the highest growth of 7.5 percent to $46.7 billion. This growth moved it up by eight spots from #31 to #23.

China Construction Bank had the highest drop of 19.2 percent to $180.8 billion, moving from rank #3 to rank #4. Itau Unibanco, PT Bank Central Asia dropped out of the top

25 list with declines of 37.6 percent, 9.4 percent and 8.3 percent, respectively. In addition to Charles Schwab, PNC Financial and Qatar National Bank replaced the three dropouts.

For the top US banks, revenue from ECM drove performance.

Bank of America posted a 147 percent increase in equity underwriting fees. Goldman Sachs had a 134 percent year-over-year (YoY) rise in ECM revenue. According to Fitch Ratings, ECM revenue at the top 5 US banks shot up by 63 percent to $44.9 billion.

During the second quarter of the year, global ECM issuance surged by 78 percent to hit a five-year high.

The figure more than doubled from $104 billion in the first quarter of the year to $260 billion in the second quarter. According to Refinitiv, the performance carried into the third quarter with US issuance up 61 percent in the first nine months of the year. Asia-Pacific saw a 71-percent increase while in Europe, the Middle East and Africa (Emea), there was a 56-percent spike.

The full story, statistics and information can be found here: https:// compraracciones.com/2020/12/08/ top-25-global-banks-combined-market-cap-declines-by-3-7-in-q3-2020to-2-6-trillion/.

Ex-Citi, Deutsche Bank Australia PHL emerges as fintech center in Asia–experts heads to face trial on cartel case G

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he former Australian heads of Citigroup Inc. and Deutsche Bank AG are among six bankers who will stand trial on cartel-activity charges over a share sale by an Australian bank in 2015.

The two Wall Street firms, along with Australia & New Zealand Banking Group Ltd. will also face trial over the alleged cartel behavior, which centers on a A$2.5 billion ($1.9 billion) stock sale by ANZ Bank, Australia’s competition regulator said in a statement last Tuesday.

The bankers facing trial are: Stephen Roberts, the former country head of Citi Australia; Itay Tuchman, who was head of Citi Australia’s global markets division; John McLean, a Citi executive; Michael Ormaechea, Deutsche Bank’s former Australia CEO; Michael Richardson, former head of equity capital markets at Deutsche’s Austra-

lia unit; and, ANZ Bank’s then group treasurer Rick Moscati.

The case centers on ANZ Bank’s institutional placement of 80.8 million shares and how underwriters Citigroup and Deutsche Bank disposed of the roughly 25.5 million shares they were left holding after the sale. The third underwriter, JPMorgan Chase & Co., received immunity from prosecution in return for information.

ANZ Bank shares slumped 7.5 percent the day after the placement, at the time the biggest fall in almost seven years.

Deutsche Bank has pleaded not guilty and is “vigorously defending the charges,” the bank said in a statement last Tuesday. “We believe the bank and its staff, including two former employees, acted responsibly, in the interests of clients and in a manner consistent with market-integrity rules,” it said. Bloomberg News

LOBAL experts agreed that Asia is fast becoming a leader in financial technology (fintech), and the Philippines exhibits a strong potential to rise among its central players.

“There was a time that when fintech was mentioned, London was the hub of that world or people thought of Silicon Valley. But now the pivot is shifting to Asia, which is the next group engine for fintech,” Finnovation Cofounder and Chairman Malik Kotadia said during the opening of the ongoing five-day virtual World Fintech Festival (WFF) Philippines.

The promising capacity of the region’s only Catholic nation in this field, on the other hand, could be mainly attributed to the advent of e-money, data sharing and data privacy here.

According to him, the country “is more than ready than ever before for fintech to rise in Asia” given the vast Filipino customer

base, which is one of the largest internet and social media users the world over.

“The Philippines as a leader, is the chair of Asean [Association of Southeast Asian Nations] working group,” added John Owens, senior digital financial services advisor at Digital Finance Advisory Services.

“The Philippines has one of the best central banks—the BSP [Bangko Sentral ng Pilipinas]—to join the region, and they continuously foster collaboration among regulators.”

Seeing the country’s domain of the fintech sector, for instance, M-Pesa has tried to emulate this. Case in fact, the Africanbased mobile phone-based money transfer service has studied and adopted the success and strategies of Filipino institutions like the BSP and Gcash.

The Philippines’s shift to a truly cashless society is well underway, as leading mobile wallet GCash hit P1 trillion transaction

value this year.

Globe Fintech Innovations Inc. President and Chief Executive Officer (CEO) Martha Sazon said that safety protocols and restricted mobility during the pandemic have altered the conventions of financial transactions, paving the way for a frictionless, cashless future.

Agreeing with her was Petnet Inc. President and CEO Ian T. Ocampo, who cited that the digital economy is changing the way people do business and live their daily lives.

“What we will see is a radical shift to neo-banking. More startups will be able to bring in fintech advancements, which will benefit the nation as a whole. What will boost this further is the collaboration with the government,” he stressed.

WFF Philippines, which runs until December 11, forms part of the WFF, formerly called the Singapore Fintech Festival.

Roderick L. Abad

Image BusinessMirror

www.businessmirror.com.ph

Editor: Gerard S. Ramos

• Wednesday, December 9, 2020

Deflecting the bulls Hub for holistic wellness opens LEADING health institute Makati Medical Center recently opened its MakatiMed Wellness Center at Ayala North Exchange Tower 1 in Legaspi Village, Makati City.

Designed to provide a convenient and comfortable facility for consultation, diagnosis, and outpatient procedures, the center, according to MakatiMed President and CEO Atty. Pilar Nenuca P. Almira, “caters to every individual [pediatric and adult] and was set up to preserve the good health of patients, for early detection, and for ascertaining the diagnosis of possible illness.”

Offering holistic health care and a wide range of procedures, the center offers diagnostic imaging services including bone mineral densitometry, general ultrasound, mammography, OB-GYN ultrasound, sonomammogram and x-ray. Skin and laser services cover body contouring, body sculpting, hair reduction, lift and firm, skin renewal, skin whitening, and tattoo removal; while health screening services include electrocardiography (ECG), weight management counseling, laboratory procedures, and primary care consultation.

MakatiMed Medical Director Saturnino P. Javier, MD, points out that the Wellness Center provides a major contribution to the “healthy normal” that the hospital is encouraging the public to adopt as we continue to face the pandemic by “giving patients the option of an ‘off-hospital site’ facility that will ensure the continuity of all avenues of care related to the promotion of health wellness.”

He adds that though the main hospital remains safe, the center gives patients “the flexibility to address health concerns minus the perceived or imagined fear that a hospital environment inherently may bring about.”

MakatiMed Wellness Center’s Ma. Gia B. Sison, MD assures patients that the facility “implements the same high standard and strict safety and sanitary procedures within Makati Medical Center. We also encourage scheduled procedures to allow our team to handle the screening of each patient who comes through our doors.”

SIA Academy set to offer external training programs TOP carrier Singapore Airlines (SIA) has created a new arm that will offer training programs in the broad areas of service excellence, operational excellence, organizational innovation, and digital transformation to external businesses and organizations.

The Singapore Airlines Academy (www. singaporeair.com/theacademy) will leverage on the wide range of globally recognized skills and competencies that exists within SIA, which have enabled the airline to establish a pre-eminent position in a highly competitive industry. It will also tap on the decades of experience that has been accumulated by SIA staff.

The academy will be able to customize training packages to meet the requirements of individual companies and organizations. Courses on offer will include Service Excellence and Leadership, Handling Challenging Customers, and Innovation Program and Playbook. These will be conducted

by SIA trainers, who are certified instructors and facilitators with practical front-line experience.

SIA began offering external courses in September 2020, when it collaborated on a customized training program with Singaporebased Khoo Teck Puat Hospital (KTPH) for its patient-care officers.

The three-day course includes topics such as effective interpersonal communication, customer handling, and learning how to exemplify values such as empathy, warmth and care.

Vanessa Ng, Singapore Airlines Senior Vice President for Human Resources, said: “SIA receives many requests from organizations wanting to know how we have attained our reputation for industry-leading service and operational excellence, and to better understand how we achieved our successful digital transformation.

“Our focus on people development and investment in training has been key to achieving these world-class standards. We are happy to share our competencies by offering specialized training programs to external organizations. This would also allow us to contribute to Singapore’s national goal of reskilling and upskilling the country’s work force.”

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TEAMMATE was presenting her proposal on how to handle a customer service material when another teammate suddenly blurted out that the idea would not work. He unceremoniously enumerated everything that could go wrong with the idea and proceeded to dominate the discussion.

Fortunately, our senior manager wisely intervened so the presentation could finish, and the proposal could be properly evaluated. We knew this particular teammate could be intimidatingly critical of people but, thankfully, our leader knew just how to handle him.

There are people like him in any team—people who are extremely critical of other people’s work and enjoy belittling other people’s accomplishments. I call them bulls. And the bad thing about these bulls is that if they cannot find anything wrong with the work you do, they go personal. The sad reality is, you will encounter all sorts of critical people in the workplace—be it your colleague, a person from another team, or even your own boss. How do you manage overly critical people?

The first thing you need to do is to not take it personally, which is easy to say but hard to do.

Our initial reaction when someone criticizes us is to defend ourselves because we feel it is an attack on our work—and rightfully so because our work is an extension of who we are. But before you go on the offensive, their criticism actually reveals more who they are than what they are criticizing about you. While I believe people do not go to work to intentionally malign or be excessively critical of others, there are really some people who have difficulty expressing themselves positively. Look at how they interact with other people because that might be just how they interact.

Once you have put your emotions at bay, understand the meaning behind the words rather than letting your emotions cloud what they are really saying. It could be honest feedback veiled by their own failures or shortcomings. They might have encountered the same issue before, so they react negatively to your recommendations. So instead of responding tit for tat, ask them how they arrived at their conclusions. This is also a way of not only acknowledging what they are saying but also letting them know that you would like to understand where they are coming from so you can both move to an agreement.

Just as actions by critical people show who they really are, you also need to understand why you were bothered by what they said. It could indicate an underlying issue you may want to delve into.

Were you really bothered by what they actually said, or were you bothered because it came from that particular person? Sometimes, we do not go beyond our own biases and we think that everything a person says will always be a criticism even if it is not. A significant amount of self-reflection would do you good to avoid reacting negatively to a person’s criticism.

One important lesson I learned in dealing with others, critical or not, is that we teach others how to treat us. If we let people push us around, it gives them the license to do so again and again because we allow it. A healthy understanding of your own boundaries can help you say “no” to overly critical people and say “yes” to better working relationships.

Sometimes a critical person would continually goad you until you react negatively, which is why it is important that you remain calm. Any negative reaction on your part will be used as a platform for the person to claim a moral high ground. Do not let them get the upper hand by biting their bait. If you think they are just provoking you into a fight, thank them for their input and park their concern. You already have acknowledged their concern, so it would be wise to move on.

And if they continue to incite you, remember—do not feed the trolls. Sometimes, entertaining them just adds fuel to the fire because they relish the attention.

Respond assertively if you need to but if after that they are still critical, ignore them. Responding to them decisively lets them know you heard them, but you will also not engage in further aggravation. By ignoring them, you have more time to focus on other matters than get bogged down by unnecessary issues.

You need to discern which issues require your full attention and which ones can be let go.

There are times when you need to confront a critical person especially if you notice a difference in the way they interact with you than with others.

But when you do confront such a person, make sure

you talk to them in private and keep an open mind.

Resolve to understand what is causing the friction so you can at least minimize the effect on you both.

There are really people who will rub us the wrong way but that does not mean we should not work with them anymore. In cases when you cannot avoid each other, find an arrangement so both of you can work together without aggravating the tension.

One important lesson I learned in dealing with others, critical or not, is that we teach others how to treat us. If we let people push us around, it gives them the license to do so again and again because we allow it. A healthy understanding of your own boundaries can help you say “no” to overly critical people and say “yes” to better working relationships. It also saves you from unnecessarily assuming what people think, over which we have no control whatsoever, and start acting on what we can do to get the work done.

While it is sometimes necessary to grab the bull by the horns, there are more effective ways of dealing with unduly critical people in the workplace, and most of them have to do with not letting the horns do their damage by deflecting their attacks. So when we do encounter bulls in our workplace, we know better than to just let them maul us alive. n

Globe makes holidays more meaningful by encouraging buyers to support local businesses

By Pauline Joy M. Gutierrez FOR Filipinos, gift-giving remains one of the most enduring traditions to celebrate Christmas, and no matter how different this year’s celebrations may be from what many are used to, everybody is still looking forward to showing their appreciation to their loved ones. For years, Globe myBusiness has supported SMEs (small and medium enterprises) through the #GiftLocal campaign, which encourages Filipino consumers to purchase their gifts from small local businesses.

“We have always rallied the Filipino consumers to patronize local establishments and help Filipino SMEs, especially during the holiday season,” said Maridol Ylanan, Globe myBusiness’ strategy and marketing head.

“This year’s Gift Local campaign will serve an even greater purpose as we feature the products of our partners that will delight Filipino customers for their gift-giving celebration, while supporting our local SMEs bounce back in these challenging times,” Ylanan shared, adding that now more than ever, it is crucial to keep the lights on for SMEs as hundreds of small independent businesses have been forced to either shut down or cut down their operations.

Globe myBusiness Strategy and Marketing Head Maridol Ylanan

As a part of the annual initiative, Globe myBusiness staged a three-day E-Bazaar with Lazada from November 27 to 29. The event featured Globe myBusiness clients and partner SMEs, such as Bayongciaga, Punta Riviera Resort, Old World Food

Enterprise, and Robi & Peach RTW clothing with live selling to be streamed through Laz Live and Globe myBusiness’ Facebook page.

More activities and promos featuring SMEs will also be rolled out by Globe myBusiness in collaboration with partner malls, such as Ayala Malls and SM Premier Malls in the coming weeks.

These collaborations will be run alongside socialmedia promotions that will encourage the public to upload their picture showing how they are keeping themselves safe while shopping and dining.

Globe’s #GiftLocal likewise joins the government’s advocacy “Ingat Angat Tayong Lahat,” which aims to once again kickstart the Philippine economy by encouraging SMEs to adopt digital solutions in their operations to help ensure the safety of their customers and its employees. Services such as GCash for cashless transactions and KonsultaMD for employees’ telehealth service are easily made available to Globe myBusiness partner SMEs. Moreover, Globe myBusiness is partnering with Ayala Foundation for its Brigada ng Ayala project, which provides education packs, health and hygiene kits, and connectivity support for teachers and learners in the new normal of education. This also extends to disaster relief initiatives.

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Pru Life UK receives Gold Stevie recognition at the 17th Annual International Business Awards virtual ceremony

UNDP turns over 5 medical ventilators to Lanao del Sur and Marawi City

AT TURNOVER RITES, FROM LEFT: Lanao de Sur Board Member Abdulrashid Balindong; Winston Camarinas, UNDP Philippines Cotabato Office; Lanao del Sur Board Member Allan Panolong; Dr. Selva Ramachandran, Resident Representative of UNDP Philippines; Dr. Chetan Kumar, UNDP Philippines; Lanao del Sur Board member Abdulhamid Amerbitor

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HE United Nations Development Programme (UNDP) in the Philippines spearheaded by Resident Representative Dr. Selva Ramachandran turned over 5 medical ventilators to the Lanao del Sur provincial government to support of the efforts to enhance the local government’s capacity in the fight against the COVID-19 pandemic.

Due to the surge of COVID-19 in the province, Lanao del Sur and its component city, Marawi City, are the only areas in the country under the Modified Enhance

Community Quarantine (MECQ)—the highest community quarantine classification—as a means to flatten the rising number of cases.

An important element of the Lanao del Sur government’s response to the pandemic is to ensure that local public hospitals are well-equipped with critical medical equipment, supplies, and personal protective equipment.

“These five medical ventilators from the UNDP are essential to our war on COVID-19,” said Lanao del Sur Governor

Mamintal Adiong Jr. The 5 medical ventilators from UNDP have been sent to Amai Pakpak Medical Center in Marawi City, a licensed COVID-19 testing lab, where the newly turned-over equipment will provide the much-needed boost to the health care capacity of the province.

Dr. Ramachandran noted that the collaboration “is a good start, but a lot more remains to be done. UNDP is now working with the BARMM government to establish an online platform to streamline the procurement of critical medical supplies and PPEs, and we look forward to also working with Lanao del Sur in this area.”

On behalf of the provincial government, the ventilators were received

by Lanao de Sur Board Members Abdulrashid Balindong, Allan Panolong, and Abdulhamid Amerbitor; Dr. Shalimar Sani-Rakiin, Chief of Amai Pakpak Medical Center; and Dr. Alinader Minalang, Head of the Integrated Provincial Heath Office of Lanao del Sur. While in Marawi, Dr. Ramachandran took the opportunity to visit the Sagonsongan Temporary Shelter— home to 140 Meranao families that were displaced by the 2017 siege of Marawi City—to determine the support that UNDP can extend to rebuild the livelihood of the IDPs.

Durex donates PPEs to HIV-advocate groups

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UREX, a brand that advocates HIV Awareness and health safety, donated Personal Protective Equipment (PPEs) to local HIV-advocate groups as part of their Protection and Preparedness Education Campaign, just in time for World AIDS Day. A total of 1000 face masks, 1000 face shields, and 7000 boxes of Durex Condoms were each turned over to LoveYourself, The Red Whistle, and the PLHIV Response Center to help boost their efforts to combat HIV/AIDS amidst the COVID-19 pandemic and promote health safety.

The brand has been consistent in its efforts to spread HIV Awareness ever since the lockdown started here in the country. Launching the Protection and Preparedness Education campaign last September, Durex aims to further raise awareness on the importance of using PPEs like face masks and condoms to curb the COVID-19 pandemic and HIV epidemic in the country. They aim to remind Filipinos that alongside

COVID-19, HIV is still a growing health crisis and that it deserves everyone’s utmost attention.

As of December 3, there have been 435,413 total reported cases of COVID-19 and around 81,000 total reported cases of HIV in the country.

The campaign seeks to educate Filipinos on health safety and the importance of

practicing safe sex even during quarantine through a series of fun and informational videos with Boys Night Out and other personalities. These videos, which can be streamed via Durex’s Facebook and YouTube pages, tackle the best PPEs to use in the new normal and provide tips on how to stay safe and protected both up there and down there during this difficult time.

U.S. Meats keeps the holidays alive in the new normal

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MONG the many things that 2020 has shed light on, the desire to come together and bond over great food has become even more apparent for people, especially now that the holidays are fast approaching.

And anyone who has celebrated Noche Buena or any festivities around this time knows that some of the best and most memorable dishes deal with delicious meat, be it your favorite glazed ham or those irresistible ribs.

Thankfully, these traditions don’t have to fade out as U.S. Meats bring in the holiday cheer with their special weekend booths on December 12 and 13, 2020 at Glorietta Activity Center as well as December 19 and 20, 2020 at The Block in SM North EDSA, and their continued presence in locals’ favorite restaurants.

There is something for everybody, as the delectable U.S. Pork and U.S. Beef are both available and can either be purchased from carrying grocery stores or

CELEBRATE good tidings with Outback Steakhouse’s 6 oz U.S. Beef Sirloin Seared Cut, with farm-raised and grass-fed beef exported from U.S. Meats.

in the form of dishes prepared by some of the best restaurants in the metro.

For those looking to prep their own homemade meals in celebration of the holidays, U.S. Meats is available in groceries in the form of Johnsonville Sausages, SPAM, and Evergood Sausages. For those who like to go out and eat together at the mall, they can enjoy these premium Pork and Beef options at Burgoo, Yabu, Soban K-town Grill, Marugame, Outback Steakhouse, Teriyaki Boy, Pepper Lunch, Big City, Yoshinoya, TGIFriday’s, Number 1 Barbecues, Conti’s, and Jinjoo Korean Grill, among tons of restaurants!

Customers should remember to keep those receipts for an extra treat, too, as U.S. Meats will be opening up booths at Glorietta and SM North Edsa – The Block on December 1213 and 19-20, respectively. At these booths, anyone with a receipt worth at least P500 of U.S. Pork or U.S. Beef dishes from restaurants or U.S. Meats products from supermarkets can hand them in and redeem a special holiday present. Any receipt from December 1 to 20 of 2020 will be eligible. There will also be a fun photobooth and menus that can inform visitors about other offers.

ALLAN Tumbaga, Pru Life UK SVP and Chief Customer Marketing Officer.

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EADING life insurer Pru Life UK was named the winner of the Gold Stevie® Award in the Communications or PR campaign-Media Relations category at the 17th Annual International Business Awards® (IBA) held virtually on December 1.

Pru Life UK was recognized for its media campaign around Prudential RideLondon 2019, the world’s largest cycling festival sponsored by Pru Life UK’s parent company Prudential plc.

Philippine media and cyclists were actively engaged in the two-day cycling event, which took place on August 3 and 4, 2019. The campaign generated significant publicity and media coverage, as well as reinforced the company’s brand awareness and commitment to helping

consumers lead healthier lives.

Pru Life UK was also recognized for its innovative plan and tactical approach that was thoughtfully executed to meet its business needs and objectives. The campaign was also lauded for achieving impressive return on investment, coupled with strong participation and sustained publicity prior to and throughout the event.

“Taking part in a cycling event reflects Pru Life UK’s focus on health and exercise, and its commitment as a leading life insurer in the Philippines to help people lead more fulfilling lives. The company’s employees who took part in the festival are also to be commended for sharing the overall vision,” said one of the judges of the awards program.

The International Business Awards is one of the world’s premier business awards programs. All individuals and organizations worldwide – public and private, for-profit and non-profit, large and small - are eligible to submit nominations. The 2020 IBAs received over 3,800 entries from organizations in 63 nations and territories.

Prior to receiving the Gold Stevie Award, Pru Life UK garnered another international award – the 2020 Gold Quill Award of Merit – for the same campaign.

“These awards are a testament of the exceptional work to drive our brand awareness and our ‘We DO health’ initiatives. This milestone further inspires and motivates us to do even more and better for the programs we have lined up for the near future,” said Pru Life UK SVP and Chief Customer Marketing Officer Allan M. Tumbaga.

Widus Foundation turns over rehabilitated RHUs

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HRISTMAS came early to the Tarlaquenos as Widus Foundation Inc. (WFI) gives Bamban a big health boost by upgrading two of its Rural Health Units.

Widus Foundation Executive Director Neki Liwanag together with Mayor Jose Antonio Feliciano led the official turnover of the newly rehabilitated P2.2-M Rural Health Units (RHU) held at the Dapdap Resettlement Area.

Liwanag, who recognizes the medical challenges in Bamban and its neighboring towns which were heightened during this pandemic, hopes that the foundation’s efforts could help improve the efficiency and quality of health services being given to the public especially to the indigent families of the community.

“Even during these trying times, Widus believes that basic and quality healthcare should be accessible to all regardless of financial and social status. We in WFI, will continue to work with the LGUs and the Philippine Amusement and Gaming Corporation in improving the general public’s access to primary healthcare services, especially now that the allinclusive Universal Health Care (UHC) law is in place,” Liwanag said.

For his part, Bamban Mayor Feliciano gladly expressed his assurance and enthusiasm in providing better health services to the community through the

donations given by WFI partnered with the support of the local government.

“We are very thankful to Widus Foundation Inc. and the Philippine Amusement and Gaming Corporation for their sincere generosity and dedication in helping Bamban strengthen its health services. This is a great help to us and we hope this wouldn’t be the first and last,” the mayor said.

BETTER HEALTHCARE FOR TARLAQUENOS. Widus Foundation Executive Director Neki Liwanag together with Mayor Jose Antonio Feliciano led the ceremonial ribbon cutting which signifies the official turnover of the newly rehabilitated P2.2-M Rural Health Units (RHU) of Bamban Tarlac held last November 27 at the Dapdap Resettlement Area.

DLSU opens Lasallian 2020 Christmas Season

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E La Salle University lights up the St. La Salle Hall to formally usher in the 2020 DLSU Christmas Season.

The lighting signaled the opening of the University’s activities this Advent under the program Animo Christmas! held online last December 1. The program commenced with a Holy Mass, followed by performances of DLSU culture and arts groups, as well as the lighting of buildings on other DLSU campuses.

Aside from Christmas lights, the iconic main DLSU building features the nativity scene with the word “HOPE” in front of the facade, in line with this year’s theme “A Celebration of Hope and Healing.”

The theme hopes to inspire the Lasallian

family during this Yuletide season amid the challenging times.

In his message to the Lasallian community, DLSU President Br. Raymundo Suplido FSC says, “As we light up our Christmas decorations, we remind ourselves that the Father sends us Emmanuel, God with us. He sends us Jesus, the light and savior of His people. Jesus is the light that conquers darkness.

This Christmas, let us again welcome Jesus, the Word into our hearts and from our hearts and homes, let us share His light, His hope, His healing with other persons, other families, and other communities. Let Christmas be truly an Animo Christmas!”

BusinessMirror

Editor: Tet Andolong

Wednesday, December 9, 2020 B7

Get your family a Bria home this Christmas

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By Rizal Raoul S. Reyes @brownindio

ECEMBER is the month where most people engage on a spending spree on online shopping portals’ holiday promos.

However, the horrible events of 2020 had underscored the importance of judicious spending and the need to secure your future.

W hile past holiday seasons were always about indulgence, this is a time for spending your hard-earned money with a purpose. You can use your hardearned 13th-month pay either in a mutual fund or savings fund for property investment.

Financial advisors pointed out that spending wisely is a walk in the park if you have “technically survived the year without your bonus—you lived off your normal, bonus-less salary. Investing in a house is a good move since it is one of our basic needs.”

Bria Homes, a subsidiary of Golden Bria Holdings Inc., can help the people who are serious in owning a home as the company has a house-and-lot package that can be paid initially

courtesy of the 13th-month pay such as the first few months’ amortization. A Bria home has an amortization as low as P1,897 a month.

Bria helps buyers navigate the buying process through its trusted formula—Affordability (Mura) + Quality (Dekalidad) = A Beautiful Bria Home for Every Filipino. Bria offers affordable homes in more than 50 progressive towns and cities across the country. Flexible payment methods such as PagIBIG housing loans or bank’s home loans make it even easier for prospective buyers.

A buyer can choose from a wide array of Bria’s stylish home models such as Alecza, Elena, Elyana, or Bettina, all of which have provisions for a bedroom, living

Phase 1 of ₧33-billion Davao Global Township unveiled

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N anticipation of the expected resurgence of Philippine real estate, Mindanao’s emerging P33-billion iconic business district Davao Global Township (DGT) unveils the development’s mixed-use first phase highlighted in its newly launched web site.

Project owner YHEST Realty and Development Corp. explained that Phase 1 consists of worldclass residential towers, an office building destined to be one of the city’s most prestigious corporate addresses, an expansive DGT City Center composed of retail areas ready to address the new normal, and a cultural center. YHEST is a joint venture of leading developer in VisMin Cebu Landmasters Inc. (CLI) and the Villa-Abrille family of Davao organized to transform a 22-hectare property into Mindanao’s iconic premier district.

CLI President and Chief Executive Officer Jose Soberano III discloses that residential demand in the 15 key cities of VisMin where CLI operates has remained strong.

He foresees that local residents of Davao, who since the pandemic have begun prioritizing owning a home, and overseas Filipino workers will quickly take up DGT’s residential units. Davao Global Township is meticulously designed to adapt to the new normal, where everything you need is situated in one iconic Township. Its newly launched web site will provide essential information of the project’s Phase 1.

YHEST President Fred Yuson also observed: “Business confidence appears to be returning particularly in Davao. This is likely to push the growth of innovative projects like the Davao Global Township, which introduces Davaoeños to fresh lifestyle, retail and corporate concepts.”

The web site showcases how DGT was master planned and designed to have a mix of indoor and open air features to adapt to the new normal.

It has wide open spaces and lush landscapes that will allow everyone to stroll freely and shop without worry. It also showcases DGT City Center’s architecture highlighted by tree-like columns that support a waved roof that houses the retail and dining spaces. It will also describe the residential spaces with world-class amenities, a corporate tower easily accessible to the airport and other business hubs, and a cultural center inspired by the Waling Waling orchid, which represents the city of Davao.

DGT’s history as a former golf course owned by one of Davao’s most prestigious families and its planned evolution into a central business district to match other global centers will be captured in the web site as well. Construction updates will also be provided on a monthly basis on the making of this township.

To know more, visit www.dgt.com. ph to experience the Davao Global Township “the Address of Amazing.”

Phase 1 coming to Davao in 2023.

BRIA offers affordable homes in more than 50 progressive towns and cities across the country

Avail a Bria home for as low as P1,897 a month

and dining spaces, a kitchen, and a toilet and bath.

“More than anything, a comfortable home in the ‘new normal’ is a place that ensures ample space for work and learning; easy access to lifestyle hubs; and safeguards from health hazards,” Red Rosales, president and chief operating officer said. “Imagine the peace of mind this will bring now that Filipinos have seen how unexpected crises can disrupt their lives,” Rosales added.

All Bria communities provide security and leisure amenities: guarded entrances and exits, perimeter fences, 24/7 security and CCTV cameras.

A good use for your 13th-month pay is paying for the first few months’ amortization on a new Bria home

Meanwhile, for fun and recreation, Bria developments have covered basketball courts, func-

tion halls, and eco-friendly parks and gardens. Furthermore, Bria projects are strategically located

near key destinations like hospitals, schools, churches, groceries, and banks, with access to major roads and highways.

Rosales urged the market to seize the opportunity in owning a home in 2021. “Prospective buyers must take advantage of real estate’s low interest rates and low inflation rates. Land prices remain stable due to the pandemic even as their value never depreciates,” Rosales affirmed.

For inqu ir ies, 360 v ir t u a l tours are available at the official Bria web site. Those who would like to reserve a Bria house and lot may head to the Bria online reservation page.

More groups back movement to amend Resa law

By Roderick L. Abad

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EEING the urgent need to change the antiquated Republic Act (RA) 9646 or the Real Estate Service Act (Resa) of 2009, some of the country’s largest organizations of property developers have joined the movement called A Better Real Estate Philippines (Abrep) that pushes for amendments of the law to help address the current 6.5 million housing backlog nationwide.

The logjam, if left unaddressed, is expected to grow to 22 million by 2040 and leave millions of Filipino families without formal housing, according to experts.

With this in mind, Abrep, a movement that seeks to increase livelihood opportunities for the people, promote the use of technology in real estate, and bolster the salesforce to resolve the backlog, is now working closely with industry stakeholders, including practitioners, developers, and even the regulatory bodies.

“Resa is a pre-automation law that does not serve the purpose it was intended to.

It was supposed to professionalize the industry, but instead, it’s stopping the industry from progressing,” Abrep President Anthony Leuterio told reporters in a recent webinar.

Even though they have their own specific positions on the proposed amendments, he bared that each of the real-estate organizations, such as the Chamber of Real Estate Builders Associations (Creba), the National Real Estate Association (NREA), the Real Estate Brokers Association of the Philippines (Rebap), the Organization of Socialized and Economic Housing Developers of the Philippines, the Subdivision and Housing Developers Association, have come in unison to push for legislative change.

“Resa is not a perfect law; that is why it is subject to change. We, as an association, should remain receptive to changes in regulations,” said Rebap National Board Edwin Calamba. “Our group is supporting

Abrep in amending the Resa not just for a select few but for the betterment of the whole industry.”

Creba, on the other hand, has denounced the law’s Section 14 for what it calls “discriminatory scholastic requirements,” referring to both the expensive and onerous requirements of Bachelor of Science in Real Estate Management (BSREM) degree for brokers and the two-year college for salespersons.

Meanwhile, NREA’s immediate past president Benny Cabrieto Jr. pointed out that Section 32’s policy on the 1-is-to-20 ratio for real-estate brokers to salespersons restricts the selling of so many real-estate units due to the limited number of agents. He said: “The law provides that only those who are graduates of BSREM can apply to become a licensed broker—and less than 100 people graduate from this course, a big number of which are not passing the board exam.”

Renowned real-estate developer, consultant, and TV host RJ Ledesma echoed the

group’s sentiment, saying it has deprived developers of a provincial network of onground touchpoints. He noted: “The developer has no means because he has no one to market there. We need more people to help us identify these underserved areas.”

Veteran realtor and cofounder of Havitas Development Corp. Andy Mañalac cited that because Resa was crafted sans digitalization consideration, legal grey areas have formed when it comes to advertising and the alleged penetration of foreign transaction platforms. He added that any foreign platforms that seek to operate in the Philippines circumvent the law when “they remove the word brokers and they say they are just facilitating a transaction. There is no law restricting their activities, but the law restricts activities of Filipinos.”

Abrep, which has been rallying a call to change Resa as early as 2016, already approached the Professional Regulation Commission regarding its proposal and that they are awaiting further feedback.

This QC home fits your needs perfectly in the age of the ‘new reality’

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HE year 2020 has redirected the attention of most homebuyers to bigger square footage, unparalleled access to outdoor spaces, and opportunities to enjoy a higher quality of life. Living through a pandemic highlights a certain need within us— to seek peace and comfort right in the confines of our homes.

In a study conducted by real-estate service firm Lamudi Philippines, it was revealed that property seekers have been prioritizing location and the presence of functional and recreational amenities in their search for property purchase during the first half of 2020. “Given the restriction on movement, the periods covered by the ECQ and the MECQ also impacted the decision to buy or rent,” the study cited.

Additionally, the research by Lamudi Philippines also highlighted one major discovery.

“In terms of property locations, most of the leads were looking for a property to buy or rent from Quezon City, which comprises 26 percent of the leads from January to the first half of June.”

A place where we can stay as we clear our mind and tune out from the rest of the world for a while can be found right in the biggest city in all of Metro Manila.

Designed to be the best a community where you can continue enjoying a tranquil life amid the quarantine, Golfhill Gardens in Quezon City offers a variety of essential things that appeal to any kind of homebuyer. Surrounded by lush landscapes, Golfhill Gardens at Capitol Hills is property giant Megaworld’s prime residential offering in

that particular corner of the city that is all set and ready for you.

With our need to commune with nature once in a while becoming paramount as we shift back to our fast-paced lives, a home in Golfhill Gardens allows you to be a mere 15 minutes away from QC Memorial Circle, Balara Filters Park, and the wide, green, open spaces

of University of the Philippines-Diliman.

This low-density development also has only six clusters where you can be assured that you can unwind and relax in peace. The pool, gym, and jogging paths within the gated community can also be your own private fitness sanctuary.

Enjoying a variety of transportation options became a must in the new reality, which is why you’ll be glad to know that being in Golfhill Gardens allows you to be 15 to 30 minutes away from government offices, BPOs, techno hubs, and some of the country’s top schools and universities.

With a variety of unit options available, including studio (29.90 to 30.60 sq m), executive studio (34.60 sq m), and one-bedroom (50.50 to 60.60 sq m), you’ll surely find the space that fits your needs and your lifestyle at Golfhill Gardens.

What’s more, this home can also be easily purchased given the flexible payment schemes that are available. Golfhill Gardens offers minimal down payment for ready-for-occupancy (RFO) units, as well as flexible monthly amortization payments, making it also the best value for money investment in the area. http://www.megaworldcorp.com.

Sports BusinessMirror

B8

| Wednesday, December 9, 2020 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

Emirates sheikh buys 50% stake in Israeli club

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ERUSALEM—Israel’s Beitar Jerusalem soccer club, which has gained notoriety for its racist fans and refusal to have an Arab player on its roster, announced on Monday that an Emirati sheikh has purchased a 50-percent stake in the team.

The team said that Sheikh Hamad bin Khalifa Al Nahyan, a member of the Abu Dhabi ruling family, has pledged to invest 300 million shekels, or about $90 million, into the club over the next decade.

The announcement, following Israel’s historic agreement to establish diplomatic ties with the United Arab Emirates earlier this year, upended one of Israeli soccer’s most infamous and controversial traditions.

Beitar, loosely linked to Prime Minister Benjamin Netanyahu’s Likud party, is one of the country’s most storied franchises, winning 13 trophies and counting Israeli presidents and prime ministers among its fans. But in recent years it has drawn attention for being the only major club never to have an Arab player. Israel’s Arab

minority makes up roughly 20 percent of the population, and Arab players star on rival teams and the country’s national squad.

Club officials have in the past said their hands were tied by a hardcore base of fans who wield significant clout over personnel decisions. A small group of fans, known as La Familia, have been known to whoop like monkeys when an opposing team’s player from Africa would touch the ball and chant “death to Arabs” toward opposing

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ARANGAY Ginebra San Miguel expects TNT Tropang Giga to fight like a wounded tiger as the Gin Kings gun the Philippine Basketball Association Philippine Cup in Game Five on Wednesday at the Angeles University Foundation gym.

Ginebra could wrap up the best-of-seven series in the 6 p.m. game although they expect a Tropang Giga side fighting for dear life in the lone conference of the Covid-19 pandemic-troubled PBA 45th season.

“TNT is going to come out like wounded tigers. It’s an organization with a lot of pride, so closing out this series will be incredibly difficult,” Ginebra Head Coach Tim Cone told BusinessMirror. “We know that. We’ll need to earn it.”

Bobby Ray Parks Jr. (calf) and veteran Jayson Castro (bones spurs) are game time decisions for the Tropang Giga.

“I don’t know what’s the status of Parks

and Castro, but it doesn’t matter. We just have to come up strong,” said Ginebra’s veteran forward Joe Devance. “They’re going to play their hearts out and give their best. They are in a do-or-die situation.”

Ginebra won Game One (100-94 in overtime) and Game Two (92-90) with Parks already nursing the injury. The Tropang Giga took Game Three (88-67), but the Gin Kings topped Game Four, 98-88, to move to the verge of bagging the crown.

Castro suffered the injury, a recurring one, early in Game Four.

A victory will be Ginebra’s fourth allFilipino title and its 13th overall. For Cone, it will be his 23rd championship since coaching in Asia’s first professional league in 1989.

Japeth Aguilar had a big game for Ginebra in Game Four with 22 points and nine rebounds while LA Tenorio also made 22 points and Earl Scottie Thompson had an allaround performance of 11 points, 11 rebounds and nine assists.

Pacquiao-McGregor could be biggest ever

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IGHT-DIVISION champion Manny Pacquiao needs a big-time fight that offers a bigtime purse that he would eventually give to his countrymen drastically affected by these desperate times, people close to the fighting senator told BusinessMirror.

And that one-time, big-time opponent would be no less than Ultimate Fighting Championship (UFC) superstar Conor McGregor, said Pacquiao’s special assistant Jayke Joson and business manager Arnold Vegafria.

“Senator MP only needs to fight a bigger foe for a bigger purse which he will use to help the people. He really loves to help and entertain his fellow Filipinos, who deserve a bigger fight like this, or should I say this dream fight [against McGregor],” Joson said.

Joson said that Pacquiao, the reigning World Boxing Association welterweight champion, has nothing to prove if he fights the likes of International Boxing Federation and World Boxing Council champion Errol Spence Jr. or World Boxing Organization title holder Terence Crawford.

“The senator has been a world champion and already conquered those belts. He has nothing to prove anymore in his career,” Joson said. “So we need a bigger fight like McGregor.

It’s a dream fight that everybody wanted to see.

Other fights are no longer realistic like Spence or Crawford.”

A recent online report quoted MP Promotions President Sean Gibbons that the People’s Champion Pacquiao expressed interest in fighting Spence after his remarkable unanimous decision win over Danny Garcia.

Joson said Pacquiao (62-7-2 win-loss-draw record with 39 knockouts), who turns 42 next week, doesn’t need to fight the unbeaten Spence to cement his legacy as one of the best ever fighters in boxing history.

“He’s champion in eight different weight classes and beat younger fighters like Adrien Broner and former world champion Keith

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RINCESS SUPERAL fought back strong from an early miscue then pounced on Pauline del Rosario last-hole misfortune to turn one-stroke deficit into a one-shot lead with a 69 at the start of the International Container Terminal Services Inc. (ICTSI) Riviera Championship at the Langer course in Silang, Cavite, on Tuesday.

Del Rosario outshone Superal in the featured flight that included Abby Arevalo, gunning down three birdies to storm to a two-stroke lead after first 12 holes in cloudy, windy conditions. But just when she thought she got the challenging par-71 layout all figured out, she stumbled with a bogey on the 14th, recovered the stroke on the layout’s signature hole—the par-three 17th—but dropped

two strokes on the tricky par-4 closing hole.

She wound up with a 70 (34-36), enabling Superal to wrest control with a 34-35, spiked by three birdies in a five-hole stretch from No. 9 which more than made up for her missed-green mishap on the sixth.

Taiwan Ladies Professional Golf Association veteran and former Junior World champ Daniella Uy shot two birdies but made five bogeys for joint third at 74 with Gretchen Villacencio, five strokes behind Superal, while Chanelle Avaricio and Chihiro Ikeda struggled with a pair of 75s.

Three-time OOM winner Cyna Rodriguez groped for a birdie-less 76 while Arevalo, who nipped Del Rosario with a birdie on the final hole to win here as an amateur in 2017, failed to recover from a wobbly start and ended up with a 77 in a tie with Marvi Monsalve.

Fidel Concepcion,

meanwhile, brandished hot irons and putter in cloudy, windy conditions then bucked fatigue and Langer’s tough finishing hole to snatch a onestroke lead over fancied Angelo Que with a five-under 66 at the start of the men’s tournament also on Tuesday.

A bogey on the treacherous par-four 18th ruined what could’ve been an explosive round for the former Southern Utah University standout, who came into the P2.5 million event upbeat of his chances against the Philippine Golf Tour’s big guns.

Arab players.

That could now begin to change.

In a statement, team owner Moshe Hogeg said the deal, coming on the event of the Hanukkah holiday, symbolized a “new and exciting light.” AP

GINEBRA GOES FOR THE KILL

By Josef Ramos

Superal, Concepcion ahead at Riviera

Thurman,” Joson said.

Vegafria said that a Pacquiao-McGregor fight would absolutely generate enormous revenues.

“That’s what the people wanted and they are waiting for three years now to see this fight,” Vegafria said. “Sales and marketing wise, in my own opinion, this is bigger compared to other fights because of two worlds combined— boxing and mixed martial arts.”

McGregor earned $130 million when he fought unbeaten boxing champion Floyd Mayweather Jr., who banked $280 million, three years ago.

Pacquiao remains committed to donating a portion of his purse against McGregor to Covid-19 victims.

“That is something he will never forget—to help his people the best he can,” Joson said.

The Pacquiao-McGregor fight is managed by Paradigm Sports Management President Audie Attar and was penciled for next year in Dubai.

Josef Ramos

THAT’S ALL AL MENDOZA | alsol47@yahoo.com

One more for Cone

CARLOS CRUZ practices at a kiosk in Alameda park after being closed off to the public for nearly five months due to the new coronavirus pandemic in Mexico City. AP

BREAKDANCING GETS I.O.C. NOD G

of equal participation by men and women athletes, and more urbanized events.

With Paris organizers needing time to prepare their project, the IOC kept to its prepandemic schedule to confirm the 2024 sports lineup this month even before some are tested in Tokyo.

Breakdancing will be called breaking at the Olympics, as it was in the 1970s by hip-hop pioneers in the United States.

It was proposed by Paris organizers almost two years ago after positive trials at the 2018 Youth Olympics in Buenos Aires. Breaking passed further stages of approval in 2019 from separate decisions by the IOC board and full membership.

In Paris, breaking has been given a prestige downtown venue, joining sport climbing and 3-on-3 basketball at Place de le Concorde.

Surfing will be held more than 15,000 kilometers (9,000 miles) away in the Pacific Ocean off the beaches of Tahiti, as the IOC already agreed in March.

Among the 28 established Summer Games sports, a total of 41 additional events were proposed to Monday’s meeting.

All increases were rejected, including ocean rowing and parkour, and changes were allowed only at the expense of existing events being dropped. Two extreme canoe slalom events will replace canoe sprint events, and the men’s 50-kilometer race walk will be replaced by a mixed gender team event.

The IOC said “limiting the overall number of events is a key element in curbing the growth of the Olympic program as well as additional costs.”

In other IOC business, Thomas Bach confirmed the more than 11,000 competitors at the Tokyo Olympics should not stay in the official athlete village for the entire games, to help limit the risk of Covid-19 infections.

Teams will be advised of a policy that athletes should arrive at their accommodation no more than five days before the start of their competition and have left two days after it ends.

Boxing is on the Tokyo program despite its governing body, known as AIBA, being derecognized by the IOC last year.

A seven-candidate presidential election is being held this weekend and Bach said AIBA was “well aware” of the Olympic body’s concerns about some of the contenders, which he did not identify.

The IOC was skeptical last year about an offer to clear AIBA’s $16 million debts, if the sport’s Olympic status was retained, by Russian boxing official Umar Kremlev who is now a candidate.

The AIBA election is scheduled as a Court of Arbitration for Sport panel of judges is preparing a verdict in a landmark case in the Russian doping saga that could see widespread punishments imposed on the nation’s sports.

Asked if Russian election campaigns were appropriate in Olympic circles at this time, Bach said: “It is up to everybody to make his or her own judgment about any such candidatures.” AP

PSC to defend full-contact sports

baseball is one of the most injury prone sports and not contact sports?” Iroy said. “But the Chairman [Ramirez] will present a position paper on sports’ positive effects to athletes who start young—contact sports or team sports.”

Ako Bicol Party-List Representatives Alfredo Garbin Jr. and Elizaldy Co co-authored the bill that bans minors in in boxing, mixed martial arts, muay thai, jujiutsu, judo, karate and all other full-contact sports.

Thirteen national associations on combat or full-contact sports wrote a petition opposing the bill. Annie Abad

ENEVA—Breakdancing became an official Olympic sport on Monday.

The International Olympic Committee’s (IOC) pursuit of urban events to lure a younger audience saw street dance battles officially added to the medal events program at the 2024 Paris Games.

Also confirmed for Paris by the IOC executive board were skateboarding, sport climbing and surfing.

Those three sports will make their Olympic debuts at the Tokyo Games which were postponed because of the coronavirus pandemic by one year to open on July 23, 2021.

Alongside the additions, the IOC made subtractions: The slate of 329 medal events in Paris is 10 fewer than in Tokyo, including four lost from weightlifting, and the athlete quota in 2024 of 10,500 is around 600 less than next year.

Two sports with troubled governing bodies—boxing and weightlifting—saw the biggest cuts to the number of athletes they can have in Paris.

Weightlifting should have 120 athletes in Paris, which is less than half of its total at the 2016 Rio de Janeiro Games. The sport could be dropped entirely due to its historic doping problems and IOC concerns over the pace and depth of reform at the International Weightlifting Federation.

The IOC stressed its future priorities for Paris, and beyond to the 2028 Los Angeles Games, by claiming it will hit a long-term target

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HE Philippine Sports Commission (PSC) goes to Congress on Wednesday in harness to defend kids’ participation in all sports and disagree with a proposed bill that prohibits minors from seeing action in combat sports.

PSC Chairman William Ramirez will be joined by his Chief of Staff and National Training Director Marc Velasco in a hearing set by the

House Committee on Sports on the proposed House Bill 1526 which prohibits minors from joining full-contact competitive sports.

Although Velasco said the PSC is reserving its reaction to the bill for the hearing, the sports agency’s executive director, Atty.

Guillermo Iroy, was vocal with his opposition to the proposed law.

“Don’t you know that in other countries,

Gold medal last year, baby girl this year

F KICKBOXING champion Gina Iniong-Araos is doubly blessed.

PRINCESS SUPERAL turns a one-stroke deficit into a one-shot lead.

By Annie Abad

OR kickboxing champion Gina Iniong-Araos, last year’s blessing came in the form of a gold medal at the 30th Southeast Asian Games.

For Covid 19-pandemic year 2020, IniongAraos’s blessing was far more satisfying—a bouncing baby girl, her first child.

“My bundle of joy is Gianna Rose,” said Iniong-Araos, who gave birth only last month almost exactly a year after the Philippines

hosted its most successful SEA Games.

The 31-year-old Iniong-Araos married Richard Araos just before the SEA Games, so the honeymoon was shelved in favor of the Games.

Iniong-Araos admitted she didn’t see the SEA Games gold medal coming.

“It was my first time to compete in the SEA Games. I was not expecting to win,” she said.

“I told myself that I had to win. And I promised my husband that I am going to bring home that gold medal.”

Iniong-Araos did bring home the mint to her native Baguio City and it was not only she and her family who was so proud, but also the famed Team Lakay, where she started her combat sport career as a mixed martial artist.

“I just started kickboxing last year. The kickboxing association was looking for an experienced player to be trained for the SEA Games.

I tried out and luckily I was chosen,” she said. “I was also recommended by my coach, Mark Siangao.”

Her sport before the SEA Games fame

FROM the start, Tim Cone is on familiar ground.

Like fish on water.

That’s the incontrovertible truth in the ongoing seven-game series between Cone’s Barangay Ginebra and Bong Ravena’s TNT at the Angeles University Foundation gym in Pampanga.

The heavily favored Cone is one game away from another coronation against poor Ravena just having his baptism of fire in a championship playoff.

It’s a mismatch no matter which angle you would want it seen, Cone’s 3-1 edge at this point an almost irrefutable path to victory.

That is why if he’s successful on Wednesday (today) in steering Ginebra past TNT, no kidding there.

In the unlikely event that it does not happen tonight, Cone’s Gin Kings have two more chances at it.

Just one more win, just one, and Cone crowns himself All-Filipino champion coach for the sixth time—and making Ginebra a Philippine Cup titlist again since 2007.

But if you ask me, it’s all over but, umm, the last whistle blown.

First, Cone is not just your ordinary, run-ofthe-mill, champion coach. In fact, he has won so many times he is more than qualified to win the Lifetime Achievement Award plum—should there be one forthcoming—hands down.

Second, he is no longer a stranger to pressure-cooker situations as he has been to 35 Finals appearances. Thus, to him, every championship series now has practically become but a piece of cake.

And third, his record of 22 PBA (Philippine Basketball Association) titles to include an unmatched two Grand Slams has become literally unreachable. The second best coach with 15 has gone back to the Great Creator— Baby Dalupan. The third best, Norman Black, is still around as Meralco coach, but he is 11 titles behind. To surpass Cone, Black needs to win four Grand Slams in the next four years ending 2025.

And that’s like wanting to plant the Philippine flag at Spratlys Island.

I’d like TNT to win tonight if only to add a bit of excitement. After all, we need all kinds of entertainment, especially in times like this.

But if Cone won’t relent and ends up being a KJ, fine.

Champs are like that. Winning is nonnegotiable.

THAT’S IT With Anthony Davis, 27, rejoining the Los Angeles Lakers, for a whopping $190 million over five years, the LeBron James-Davis Act will be back to spearhead the Lakers’ defense of the NBA title; the 46th season is set to blast off December 22. While mainstays Rajon Rondo, Danny Green, Dwight Howard and Avery Bradley left LA for separate teams, they will be more than sufficiently replaced by Marc Gasol, Dennis Schroder, Wesley Matthews and Montrezl Harrell as the Lakers try to sustain their new-found calling as solid title contenders again. Good luck! included boxing, wushu and sanda.

Iniong-Araos’s MMA background worked wonders as she beat Apichaya Mhingkhawan of Thailand, a country known for kickboxing, in the women’s 55-kg kick light event.

Training during the lockdown also weighed down on Iniong-Araos. But she kept a positive mind.

“I train at home and it’s not that difficult for me because I have equipment at home. And we train online together with my teammates, too,” she said.