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Wednesday, December 23, 2020 Vol. 16 No. 76
P25.00 nationwide | 2 sections 20 pages | 7 DAYS A WEEK
By Jovee Marie N. Dela Cruz
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PHL FACING A W-SHAPED RECOVERY, LONG-DRAWN RECESSION, SAYS EXPERT
HE cochairman of the House Economic Recovery Cluster on Tuesday warned that the government’s high current account surplus—which means that there are greater savings than investments in the economy—is a “troubling sign,” saying the country’s spending has to be quicker and more effective during a crisis.
House Committee on Ways and Means Chairman Joey Sarte Salceda made a statement in response to an economic bulletin by the government showing the current account in the balance of payments rose to a surplus of $8.7 billion or 2.4 percent of GDP during the first three quarters of 2020. Continued on A2
By Tyrone Jasper C. Piad
A
NTICIPATING a prolonged recession, Bank of the Philippine Islands (BPI) Lead Economist Emilio Neri Jr. said that a W-shaped rebound is expected for the Philippine economy. During a recent online forum hosted by the bank, Neri explained that this is a trend “wherein the economy begins to recover rapidly, but then falls into a double-dip recession, but ending with another sharp rise.” The country’s GDP slipped by 10 percent as of end-September on average after posting a contraction in three consecutive quarters, according to the Philippine Statistics Authority. According to his latest forecast, full-year GDP may plunge by 11 percent in 2020 amid the continued economic slump, coupled with the damage caused by the recent typhoons. Neri added that the economy may then grow by 7 percent next year on the back of improved mobility and wider shift to digital. However, he said that the economic output level will not be back to 2019 levels yet.
FROM left, Covid-19 National Task Force Secretary Vince Dizon, DOH Undersecretary Leopoldo Vega, Public Works Secretary Mark Villar and DPWH Undersecretary Emil K. Sadain lead the turnover of modular hospitals built inside the Quezon Institute along E. Rodriguez Avenue in Quezon City on Tuesday, December 22. The modular hospitals are constructed with the use of prefabricated sandwich panels and feature wide hallways. Authorities are ramping up preparations to make sure there are enough facilities to handle infected persons amid a feared surge in cases as people gather for the holidays. NONOY LACZA
Continued on A2
By Samuel P. Medenilla
M
ALACAÑANG on Tuesday said President Duterte will sign the P4.5-trillion 2021 national budget after Christmas. In an online press briefing, Presidential spokesperson Harry Roque said he got word that the signing was reset from December 25, 2020, to next week. “Yesterday [December 21], it was clarified that the signing is on [December] 28,” Roque said. He said the signing will be done in Davao City and will be at-
tended by five members of the House of Representatives and another five from Senate. The Office of the President is currently reviewing the 2021 General Appropriations Act (GAA) to determine if Duterte will opt to veto some of its provisions. It got the copy of the legislation from Congress only last Friday. Roque earlier said the government is targeting to pass the 2021 GAA this month to prevent having a reenacted national budget next year. He said passage of the legislation will ensure the govern-
PESO EXCHANGE RATES n US 48.0620
ment’s Covid-19 response in 2021 is funded. Under the bicameral conference version of the 2021 national budget, the biggest allocations will go to the following sectors: Education (P708.1 billion); Public Works and Highways (P694.8 billion); Health (P287.4 billion); Interior and Local Government (P247.5 billion); National Defense (P205.5 billion); Social Welfare and Development (P176.7 billion); Transportation (P87.4 billion); Agriculture (P68.6 billion); Judiciary (P44.1 billion); and Labor and Employment (P36.6 billion).
DUTERTE
MALACAÑANG PRESIDENTIAL PHOTOGRAPHERS DIVISION VIA AP
Duterte to sign 2021 budget on Dec 28 in Davao
n JAPAN 0.4653 n UK 64.7491 n HK 6.1991 n CHINA 7.3376 n SINGAPORE 36.0745 n AUSTRALIA 36.4550 n EU 58.8567 n SAUDI ARABIA 12.8111
Source: BSP (December 22, 2020)
News A2 Wednesday, December 23, 2020
BusinessMirror
BIR moves deadline for tax amnesty availment to June
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By Bernadette D. Nicolas
HE Bureau of Internal Revenue (BIR) has once again moved the deadline for availing of the tax amnesty on delinquencies (TAD) and Voluntary Assessment and Payment Program (VAPP) until June 2021.
The BIR on Tuesday issued Revenue Regulations 32-2020 and 33-2020 allowing taxpayers to avail themselves of TAD and VAPP, respectively, until June 30 next year. Prior to the extension, taxpayers only had until December 31 this year to apply for TAD and VAPP. The new revenue regulations were issued in line with Republic Act 11494 or the Bayanihan to Recover As One Act, allowing the extension of statutory deadlines and timelines to ease the
taxpayers’ burden as the country grapples with the Covid-19 pandemic. BIR Commissioner Caesar R. Dulay and Finance Secretary Carlos G. Dominguez III signed the revenue regulations before the expiration date of the Bayanihan 2 law on December 19. In a message to the BusinessMirror, BIR Deputy Commissioner Marissa Cabreros said they have so far collected P3.4 billion from the tax amnesty program on delinquent accounts as of November 30 this year. Cabreros said they have started
the collection on April 2019. On February 2019, President Duterte signed into law Republic Act 11213, which allows taxpayers with delinquent accounts to take advantage of lower rates to settle their obligations. This also provided an opportunity to unclog the administrative and judicial dockets of slow-moving cases. On the other hand, the VAPP lets taxpayers voluntarily settle their unpaid internal revenue tax, with or without an ongoing audit/ investigation. Those who do so shall not be audited for 2018 for the tax types availed.
P200-M collection
ACCORDING to the Department of Finance, the BIR reported that it had collected more than P200 million from the VAPP program with just three months of implementation. The majority of the applicants were small business taxpayers who wish to settle their 2018 tax liabilities. “We are delighted that the
VAPP has been helping our small and medium taxpayers settle their 2018 tax obligations while also generating additional revenue collection for the BIR. The same goes with the TAD program,” Undersecretary Antonette Tionko of the DOF Revenue Operations Group said. “By further extending the two programs, we hope to help more taxpayers settle their tax deficiencies amid the pandemic," she added. Moreover, Revenue Regulation 33-2020 ensures that the BIR correctly evaluates VAPP applications by requiring denials and invalidation to be supported by documents such as Discrepancy Notices and other third-party information documents. Taxpayers whose VAPP applications are denied or whose VAPP entitlements are invalidated may likewise appeal to either the Assistant Commissioner for Large Taxpayer Service or the Regional Director.
BANKS’ CREDIT CARD RECEIVABLES DOWN BY 7.6% IN Q2 By Bianca Cuaresma
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EWER people used their credit cards for purchases in the second quarter of the year, but higher unpaid credit ratio was seen during the period, Bangko Sentral ng Pilipinas (BSP) data showed. Credit card receivables declined by about P33.8 billion or 7.6 percent to P412.7 billion in endJune this year from the P446.5 billion in end-March this year. The decline in credit card loans
parallels the decline in auto loans as well as the tepid lending environment in the economy due to jitters caused by the pandemic amid the ultra-low interest rates. Despite the lower volume of loans during the period, the BSP recorded a higher non-performing credit card loan ratio in the second quarter of the year compared to the previous quarter. Nonperforming loans (NPL) are more popularly known as “bad” or “soured” loans as they are unpaid loans way beyond their due date.
Out of the P412.7-billion credit card loans during the period, P23.6 billion are bad loans. This comprises a 5.7-percent NPL ratio for credit card loans for the period, up from the previous quarter’s 5.3 percent. This is the highest NPL ratio of credit card loans in the country since June 2016 when it hit 5.87 percent. It is also the second consecutive quarter of NPL rise for the personal loan segment. The credit card loans’ NPL is higher than the average NPL of the Philip-
pine banking system, which is at 3.6 percent in end-September this year. 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.
PHL facing a W-shaped recovery, long-drawn recession, says expert Continued from A1
The earliest that a full economic recovery is seen is in 2022, he said. To boost economic recovery, the BPI economist said a “stronger and more focused stimulus” is needed next year. It is also necessary to have quicker reopening of the economy to boost activities, he added. “Production is responding positively to easing of quarantine measures. But the country’s recovery may continue to fall behind our Asean [Association of Southeast Asian Nations] neighbors if reopening remains slow and fiscal
response remains too conservative,” Neri explained. Last week, the Senate passed on third and final reading the bill extending Bayanihan 2 appropriation, which was initially set to conclude on December 19. It is a stimulus package providing P140 billion in regular appropriation and P25 billion for standby funds. According to a report by the Department of Budget and Management, it has disbursed P102.53 billion of the Bayanihan 2 funds.
V-shaped for some
ECONOMIST Thierry Apoteker, chairman of France-based eco-
nomic advisory firm TAC Economics, pointed out in the same forum that the path to recovery remains bumpy because of threats of further Covid-19 infection, leading to lockdown measures. “Several economies will likely experience an asymmetric Vshaped recovery which will last for at least two years,” he said. Apoteker explained that the pace of recovery will vary across economies. While Apoteker agrees that the economy will not return to prepandemic levels next year, he observed that consumption patterns were showing “significant changes” already. In addition, he said that unconventional monetary policies will likely continue in 2021 amid the slow pace of economic recovery. “As a result, liquidity will remain substantial in 2021. Low returns in the bond market might force investors to seek returns in high-risk assets like equities. The
abundance of liquidity is expected to cause volatility in the stock market,” he said. In the Philippines, the Bangko Sentral ng Pilipinas cut policy rates by 200 basis points in total this year, with overnight reverse repurchase facility currently at 2 percent. The Cabinet-level Development Budget Coordination Committee (DBCC) is anticipating the Philippine economy to contract by 8.5 percent to 9.5 percent this year as business activities continued to slow down amid the prolonged lockdown measures due to the pandemic. It is worse than the earlier forecast of a 5.5-percent contraction for the GDP. In the coming years, the DBCC is optimistic that GDP will rise due to relaxation of restrictions. Economic managers expect the economy to grow to 6.5 percent to 7.5 percent in 2021 and 8 percent to 10 percent in 2022.
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GOVT WILL SOON SEAL DEAL TO BUY 30-M NOVAVAX DOSES
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HE government will soon be sealing the deal for the purchase of 30 million doses of Covid-19 vaccine of Novavax. At President Duterte’s public address on Monday, chief implementer of the government’s national policy on Covid-19 Carlito G. Galvez they will be meeting with the representative of Serum Institute of India (SII), the manufacturer of the Novavax vaccine, to finalize the details of the said agreement. He said the country representative of SII has already committed to provide the country with 30 million doses of Novavax. SII has agreed to go through the transaction without the need of any advance cash payments in compliance with Republic Act 9814 or the Government Procurement Act, according to Galvez. “This means all our transaction [with SII] will be flexible. And he [SII country manager] will comply with your guidance that there will be no cash advance,” Galvez said. Galvez said they also expected to complete the agreement with AstraZeneca next week for the purchase of 20 million doses of its Covid-19 vaccine. Of which, 10 million doses will go to the private sector, while the remaining 10 million will be used by local government units. “We are just waiting for the Ministry of Health regulatory authorization in the UK before we finally sign the contract," Galvez said.
Second batch
IF both agreements are signed this month, Galvez said he expects the Novavax and Astra Zeneca vaccines to arrive bythe second and third quarter of 2021. The vaccine czar earlier said they are targeting to secure the initial batch of Covid-19 vaccines for the first quarter of next year from Sinovac Biotech Ltd. and the Gamaleya Research Institute. Galvez did not give any updates on their negotiations for the purchase of the Covid-19 vaccine Pfizer-BioNTech, which is also supposed to be completed before the second quarter. No less than Duterte said currently Pfizer-BioNTech has no available supply of its vaccines to be sold to the government. “It remains to be seen when they will have extra [vaccine supplies],” Duterte said. Foreign Affairs Secretary Teodoro Locsin Jr. earlier accused Health Secretary Francisco Duque III of “dropping the ball” regarding the preliminary negotiation done by the Department of Foreign Affairs (DFA) to secure 10 million doses of Pfizer-BionTech vaccines. Duque belied the allegation, saying he was not responsible for said delay in approving the said transaction. The government is also eyeing to purchase Pfizer-BionTech vaccines for the second quarter of 2021. On Monday, Locsin told CNN Philippines that talks with Moderna Inc., another US-based vaccine maker, will start by December 30. Samuel P. Medenilla
‘Troubling sign’… Continued from A1
“You want people to save during high growth years, but you want them to invest during periods like this. It’s countercyclical to save during a crisis. If we don’t induce firms to invest more by ramping up government spending, we’re in for extended economic sluggishness,” Salceda said. The House leader also called out stimulus-implementing agencies for their slow action. “The reason we kept pushing for a Bayanihan III that is more focused on income transfers is precisely that supply-side interventions such as those in Bayanihan II take some time to make a positive impact. Demand always matters more, when you are a government trying to intervene. Supply will follow if people have the money to spend on things,” Salceda added. According to the bulletin, the current account balance reverted to a surplus from a deficit last year as the economy slowed down, bringing down import demand with it. As a result, the peso strengthened from end-2019 level of P50.8/$1 to P48.1/$1 as of midDecember 2020. “There is this misguided notion that having less imports than exports, and having more savings than investments, is always a good idea. Not during a demand-side crisis. And certainly not in our stage of development, where we need high-value goods and services to jumpstart new industries,” he said.
“The principle should be simple: Spend quick. Spend wisely. Spend enough. There is still an opportunity to redeem our response, as we are extending the validity of Bayanihan II. But that is not a signal that the implementing agencies can just relax. We have to spend it all and soon,” Salceda added. Meanwhile, Salceda also called on the national government to buy and compete for vaccine supplies. “The silver lining here is we can definitely buy vaccines, as the peso is strong and our credit ratings are robust. So, let us not try to cut too many costs anymore. Let’s buy the most effective and easy-to-administer vaccine. We can buy the best, anyway,” he said. “The point of not being so generous with our fiscal stimulus after all was that so we can buy vaccines when they become available. The vaccines are now here. So, let’s buy them already. Compete in bidding if necessary. The losses of every single day we remain on quarantine are bigger than any increase in vaccine costs anyway,” the lawmaker added. According to the solon, the economic loss of every day in quarantine is about P8.5 billion in economic activity. “Not to mention the opportunity costs—what could have been. Bid, compete, do whatever it takes to get viable vaccines. Congress will be all-out in supporting government to make sure there are no delays,” Salceda said.
DOT hits Aklan failure to test Boracay workers Continued from A12
Several hoteliers interviewed on the island said they weren’t aware the Aklan government was supposed to provide them free RT-PCR testing for their staff. “Really? There’s free testing?” was the question of one resort manager to this paper. Another said he had “heard about it before, but until now, we don’t have it.”
First case after reopening
MEANWHILE, industry sources said the Covid-positive staff works at Discovery Shores Boracay on Station 1. “He just had a day off in Lezo, Aklan, but there’s a Covid case there, so it’s possible he got it there because when he returned, he showed symptoms already,” said one source. The employee is reportedly 28 years old, male, and
took his day off on December 14. He returned to Boracay the next day, and went to work. Another source said that when the hotel employee exhibited symptoms, “the hotel conducted an antigen test, but according to the Municipal Health Office, the hotel didn’t coordinate with them before the antigen test was given.” This is the first Covid-19 case on the island after it was reopened to domestic tourism on October 1. One source intimated that the “resort’s guests were not informed of the Covid-positive employee, even if he worked at the Food and Beverage department. Whether he is a cook or a server, they should still have told the guests because that’s precisely what we are trying to avoid, a superspreader event.”
Romulo Puyat said initial reports showed the hotel followed the correct protocol in isolating and quarantining the staff, and contacting health officials. She said the hotel checked the other staff for possible infection. She noted the Covid-positive staff, though, was a “back of housekeeping attendant and didn’t mingle with guests.” According to hoteliers on the island, however, once a staff is suspected to have Covid, the LGU protocol is to isolate and quarantine the staff and immediately call the barangay health emergency response team. The BHERT will then take the suspected Covid-positive patient for RT-PCR testing. “No, we are not supposed to give them a Covid test, since we don’t have medical personnel,” said one resort owner.
As of press time, the resort’s parent Discovery World Corp. (DWC) had yet to revert with a response on its Covid-positive staff in Boracay, despite repeated followups, although its president, Jose C. Parreño Jr., texted this reporter that he would have his public relations staff call. A listed concern of the Tiu-led JKTC Equities Inc., DWC’s share price closed at P2.24 on Tuesday, unchanged from Monday. In the first nine months to September 2020, DWC recorded a net loss after tax of P278.31 million, larger than the P10-million net loss in the same period last year. Primarily engaged in the hotel and resort business, DWC owns and operates other properties such as Discovery Country Suites in Tagaytay, Discovery Suites in Ortigas Business District, and Club Paradise in Coron.
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The Nation BusinessMirror
SC Chief Justice condemns slaying of ex-CA magistrate By Joel R. San Juan
@jrsanjuan1573
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UPREME COURT Chief Justice Diosdado Peralta condemned the killing of retired Court of Appeals (CA) Normandie Pizarro on Tuesday and urged law enforcers to immediately bring his killers to justice. This developed as the lawyers, through the Integrated Bar of the Philippines (IBP), have sought concerted actions from various government agencies to stop the spate of killings involving lawyers. The IBP, through its national president Domingo Egon Cayosa, made the call in a letter addressed to President Duterte, CJ Peralta, Vice President Leni Robredo, House Speaker Lord Allan Velasco, Department of Justice Secretary Menardo Guevarra, members of the Senate and congressmen-lawyers president of the League of Governors and president of the League of City Mayors. The group pointed out that a total of 54 lawyers have been killed under the Duterte administration from July 1, 2016. “The continuing, increasing and more brazen killings on Filipino lawyers and judges have been going for many years now but we noticed a sharp increase since President Rodrigo Duterte came to office in 2016 and has made the legal profession one of the most dangerous careers in the country,” the IBP letter, sent to CJ Peralta, stated. The IBP was joined by the National Union of People’s Lawyers (NUPL) in calling the government for a concrete action to prevent further killings of lawyers. In particular, the IBP and NUPL are asking the Court to take appropriate steps to ensure a thorough, prompt, impartial, and independent investigation into all the killings of lawyers. It also urged the SC to convene a dialogue between the SC, IBP, state security forces, particularly the Philippine National Police, the Armed Forces of the Philippines, other relevant government agencies, civil-society organizations, and other lawyer organizations, where all parties could engage in open and constructive discussion on ensuring the safety and security of lawyers. It also asked the Court to demand accountability and justice for the victims of extrajudicial killings and violence against lawyers and judges. In a separate letter to the President, the IBP sought the government’s clear action and guidance with regard to the 54 lawyers killed under his administration. “We appeal to our brothers-lawyers in all branches of government who occupy positions of great authority and power to take concerted
action to decisively address attacks on lawyers,” the letter read. “We see this not only on behalf of the slain lawyers, their families and on the legal profession, but more importantly, for our country that has long suffered from creeping criminality and delayed or denied justice,” it added. The IBP said the help of the heads of the other branches of government and other stakeholders is crucial in “ensuring justice for the victims, proactively preventing more violence, and restoring our people’s faith and trust in the rule of law and governance.” The IBP also appealed to public prosecutors, defense lawyers, and judges to hasten the resolution of cases without partiality. “Aside from addressing its root causes, certainty and timeliness of accountability and punishment is a proven antidote to criminality and impunity,” Cayosa pointed out. In response, Justice Secretary Menardo Guevarra said he would invite the IBP leadership in the coming days to discuss their concerns and coordinate the justice department’s action to address the increasing number of judges, lawyers and prosecutors being killed. Meanwhile, the National Bureau of Investigation (NBI) has confirmed that the body recovered in Capas, Tarlac, on October 30, 2020 was that of Justice Pizarro. NBI spokesman Ferdinand Lavin said the body was identified by the NBI forensic based on the DNA test result that yielded a 99.9 percent match. Pizarro was reported missing after he was last seen at a casino in Clark, Pampanga, last October 23. His car was later discovered somewhere in San Simon, Pampanga. Before he disappeared, he last spoke with one of his sons on October 23 at around 11:30 a.m to 12 noon. Pizarro retired from the CA in February 2018, a year ahead of his mandatory retirement, two months after he was found guilty by the SC of conduct unbecoming of a member of the judiciary over instances of gambling in a casino and fined him P100,000. Among the controversial cases he resolved was the acquittal of former Palawan governor Joel Reyes in the Gerry Ortega murder case which was later reversed by a new set of CA justices tasked to review the case. He also penned the decision that denied victims of human-rights violation during martial law from claiming the $2 billion in damages that was earlier awarded to them by a Hawaii court. Pizarro also wrote the decision absolving pork barrel fund scam mastermind Janet Lim Napoles of the serious illegal detention charges in 2017 filed by whistle-blower Benhur Luy.
Editor: Vittorio V. Vitug • Wednesday, December 23, 2020 A3
Sen. Marcos moves to unmask Tarlac policeman’s ‘protectors’
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By Butch Fernandez
@butchfBM
EN. Imee Marcos moved on Tuesday to unmask the “protectors” of the killer cop who recently shot dead a mother and son in Tarlac, after noting police records involving murder suspect Police Senior Master Sergeant Jonel Nuezca in two previous homicide cases that were dropped or dismissed.
Who are this guy’s sponsors? [Sino mga padrino nito?]. The guy is clearly inured to shooting people like target practice, using his service firearm.
BM
Sen. Imee Marcos
“Who are this guy’s sponsors? [Sino mga padrino nito?],” Marcos asked, adding: “The guy is clearly inured to shooting people like target practice, using his service firearm.” The senator cited Nuezca’s police record showing previous involvement in two cases of homicide last year, which were either dropped or dismissed. Moreover, Marcos noted Nuezca was suspended for refusing a drug test in 2014 but dodged a case of grave misconduct in 2013 and of serious neglect of duty in 2016 for failing to appear as a prosecution witness in a drug case. Marcos maintained that Nuezca’s immediate superiors must likewise be automatically included in the investigation, citing Republic Act 8551 that was passed into law precisely to “reform and reorganize” the Philippine National Police (PNP). She suggested that Congress needs to amend and strengthen Republic Act 8551, reminding that “clear lapses are being committed in the psychological and drug tests for police personnel, as well as the periodic review of their behavior.” Marcos added that “could even be a regular hitman.” At the same time, the senator voiced concerns a strong padrino and frat system was defeating PNP
efforts since 2018 to prevent influence-peddling in police recruitment through the PNP’s Robust, Neuro-Psychiatric, Medical and Dental System. Known as the RONMEDDS program that bar-codes regional health service processes, Marcos noted it was put in place “because the results of periodic psychological and drug tests were being bought or negotiated by political sponsors and classmates of police recruits and personnel,” Marcos said.
Tighter screening
LAWMAKERS on Tuesday filed resolutions calling for an inquiry into the PNP’s current standards in evaluating the tactical knowledge and mental fitness of all its uniformed personnel. In her resolution, Marikina Rep. Stella Luz Quimbo said Nuezca’s behavior is criminal and contrary to his sworn duty as a police officer to maintain peace and order under fair, humane, and legal circumstances. Last Sunday, Nuezca shot mother and son Sonya, Frank Anthony dead in Paniqui, Tarlac, after Nuezca reportedly went to the victims’ residence to investigate the alleged use of boga, triggering an altercation. “I filed a resolution to launch an inquiry on the PNP’s current
standards for evaluating the tactical knowledge and mental fitness of all its uniformed personnel. The killings of both Sonya and Frank Gregorio are a symptom of lapses in our law enforcement. Congress must act now to determine what reforms are needed to ensure that PNP personnel are of sound body and mind in the performance of their duties. Congress must also assess whether it is time to prohibit policemen from carrying guns while off duty, as how it is in other countries,” she said. Nuezca had been suspended from the service in 2010 and 2014, with the latter suspension being caused by his refusal to test for drugs and for leaving the testing area without permission from the National Police Commission; from 2013, five cases have been filed against Nuezca for varied reasons such as grave misconduct, less grave neglect of duty, and serious neglect of duty, and in 2019, he had been the accused party in two cases of homicide. Quimbo said despite demonstrably dangerous behavior and inability to comprehend his duties and responsibilities as a police officer for approximately 10 years, Nuezca remained in the service and was allowed to continue carrying a firearm. “Despite existing standards, there appears to be insufficient screening and monitoring of the psychiatric or mental well-being of police officers to prevent unnecessary brutality and killings by members of the police force,” she said. The lawmaker said the United Nations Office on Drugs and Crime has an established principle that officers should not take their issued firearms home but should have these weapons kept in an armory when off duty. The policy, she added, has helped other countries, such as Japan, minimize gun-related crimes and the abuse of firearms. “There is also a need to assess the implications of the regulations of the PNP on the use of firearms, including the policy allowing its members to carry firearms even when off duty,” she added. “There is a pressing need to ensure that members and officers of the Philippine National Police are knowledgeable, psychologically fit, and adequately trained in the fulfillment of their mandate to serve and protect the Filipino people,” she said.
Be wary of groups, individuals with ‘malicious’ intent, social work group told
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E PA R T M E N T of S o c i a l Welfare and Development (DSWD) Secretary Rolando Joselito Bautista warned on Tuesday the Association of DSWD Social Workers Inc. (ADSWI) of organizations with “malicious” intentions seeking partnerships. “Never allow your organization to be used by another organization
that is not in accordance with your intent and purpose. I advise you to focus on your goals and objectives and be careful in accepting members which we believe may have a different motivation on why they are joining your organization,” Bautista said during the online screening of the ceremonial signing of the memorandum of understanding between
DSWD and ADSWI. ADSWI is an organization of employed social workers, who are contract of service and regular employees in the department both at the central and regional offices. The group was registered under the Securities and Exchange Commission on November 16, 2012. Bautista cited the vital contribu-
tions of social workers in the work of providing social protection in the country. “This collaboration will not only ensure our commitments to the Asean consortium but will also help us in our common goal to uphold and continue improving the standards of social work practice across the country,” he said. PNA
DFA to keep flying home stranded, distressed workers
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S Christmas Day approaches, the Department of Foreign Affairs continued to deliver on its commitment to bring home overseas Filipinos (OFs) wherever they are in the world. Last week alone, 13,320 OFs were flown home by the DFA, bringing the total number of repatriated OFs to 314,158 since the DFA started its Covid-19 related repatriations in February. The DFA facilitated 64 special commercial repatriation flights last week. Among those brought home through these special flights include:
74 OFWs from the island Diego Garcia; 33 OFWs and one minor child from Cambodia; 21 trafficking-in-persons victim from UAE; 9 undocumented OFWs from Iraq; 4 OFWs and 2 minor children from Guangzhou, China; 2 medical repatriates from Oman; 2 undocumented OFWs from Vietnam; 1 household service worker from Iran; and
1 stranded seafarer from the Bahamas. Thirty-two Filipino crew of stranded fishing vessels, Long Xing 905, 906, and 907 also arrived on December 19. The three ships were previously stranded at sea near the Marshall Islands after the ship owner, Dalian Ocean Fishing Company Limited, stopped paying the salaries of the crew and failed to make provisions for refueling the ships. The DFA, through its Office for Migrant Workers’ Affairs and its Philippine Embassies in Australia, New Zealand
and China lobbied hard with the authorities in Vanuatu, Marshall Islands and China, including with the Chinese Embassy in Manila. This led the ship owner to make arrangements for the salaries of the crew and to refuel the ships to be able to return to port in Dalian, China. With only a couple of weeks to go before the end of 2020, the DFA said it will continue with its repatriations efforts and stands ready to assist Filipino nationals affected by the pandemic.
Earlier, Speaker Lord Allan Velasco said the incident also highlights the need for the leadership of the PNP to remind its ranks on the proper and responsible use of their weapons and that they should, as much as possible, apply non-violent means at all times. He said police officers must be reminded that force and firearms may only be used if other means remain ineffective or without any promise of achieving the intended result. “We sympathize with the family of Mrs. Sonya Gregorio and her son, Frank Anthony, especially their young and innocent relatives who, unfortunately, bore witness to the horrific killings. It is our fervent hope that the circumstances surrounding their deaths are investigated thoroughly and that justice is ultimately served. The culprit, Police Officer Jonel Nuezca, must not go unpunished and that his effective prosecution must be ensured,” the Speaker added. House Deputy Speaker Bro. Eddie Villanueva also condemned the recent shooting, saying that the incident is a glaring picture of the state where the worsening culture of impunity and injustice in the country have already brought us. “The brazen and senseless shooting of a mother and son by a policeman in Tarlac must be a sudden prick to our consciousness which might have become accustomed to incidences of killings in the country. It should be a stern warning that justice must be served for every fall of life— particularly brutal cold-blooded killing. Or else, we make the culture of impunity larger each day that we let injustice get away,” he added. “The Tarlac incident should be a foreshadowing of what is ahead of us if abuse of power and wanton disregard of the sanctity of life will not be stopped now,” said the CIBAC solon, who is the House Deputy Speaker for Good Governance and Moral Uprightness.
End impunity
ALSO, ACT-CIS Party-list Rep. Rowena Niña Taduran called for an end to impunity as she strongly condemns the cold-blooded murder of a mother and her son by a policeman in Paniqui, Tarlac. Taduran insisted that the PNP should regularly evaluate all cops especially those who have several cases filed against them.
A4 Wednesday, December 23, 2020 • Editor: Vittorio V. Vitug
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Film industry’s pandemic loss exceeds ₧10 billion–FDCP By Samuel P. Medenilla
@sam_medenilla
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HE local film industry suffered at least P10 billion worth of box-office revenue losses due to the novel coronavirus disease (Covid-19). In an interview with PTV on Tuesday, the Film Development Council of the Philippines (FDCP) said this was the estimated cost of government measures to shutdown cinemas, as well as film productions to control the spread of the virus. “The typical box-office gross each year is P11.5 billion. Since it is now December, almost P10 billion or more is the estimated loss of the industry,” FDCP chairman Liza B. Diño said. Based from FDCP’s latest data, about 480 or about 30 percent of the usual production shoots have resumed since the government relaxed its quarantine restrictions during the
second half of the year.
Digital platform
WITH the closure of movie houses, Diño said producers and filmmakers now have no reliable platform to distribute and monetize their films. The FDCP tried to remedy the situation by launching its own digital platform for film distribution, but earning from the scheme remains lower compared to traditional cinemas. Diño urged movie-goers to support local films by patronizing such digital platforms. Further worsening the plight of the local film industry, Diño said, is the additional cost needed for film producers that their shoots remain Covid-free. “Their production cost rose by 30 percent since they have to implement safety and health protocols,” Diño said. Despite causing financial burden to film
producers, the said measures, she maintained, is necessary since infections in shoots will delay their production by several day and also cause their personnel, who are mostly under a “no work, no pay” scheme, to be cut off from their daily earnings.
Financial aid
TO help alleviate the plight of the struggling film industry, FDCP said the government allocated funding under the Bayanihan to Recover as One Act to provide cash aid to over 5,000 workers in the said sector. Diño said they are now coordinating the Department of Labor and Employment (DOLE) for the implementation of the financial assistance. FDCP also launched its CreatePHFilms program, which aims to provide funding ranging from P300,000 to P5 million to qualified movie producers and filmmakers.
Solon pushes JTI’s Global Business Service passage of Center launches Manila office textbook digitization bill By Jovee Marie N. Dela Cruz @joveemarie
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SENIOR lawmaker is pushing for a swift approval of a measure to overhaul the Book Publishing Industry Development Act (BPIDA) and mandate the scanning, or conversion, into electronic copies and other digital formats of all textbooks. Camarines Sur Rep. Luis Raymund Villafuerte filed House Bill 8020 amid the current shift to blended or distance learning amid Covid-19. Villafuerte said his proposal requiring the digitization of all contents used by publishers participating in the Public School Textbook Program (PSTP) will address the recurring shortage of printed modules in public schools. “It is no secret that textbooks in public elementary and high schools are limited in number and, as result, our students are forced to share or borrow from one another,” Villafuerte said. “This difficulty is even more evident in the time of Covid-19 when there is a shift to blended or distance learning. The sharing of materials among groups of students still exists because of the shortage of printed modules,” he added. The lawmaker said requiring the digital reproduction of textbooks will allow students to have a copy or access to the contents of these learning materials in electronic format without the need for them to borrow from, or share resource materials with, their classmates. To protect the intellectualproperty rights of both the authors and publishers of the textbook, Villafuerte said the implementation of the scanning or conversion must comply with the provisions of Republic Act (RA) 8293, otherwise known as the Intellectual Property Code of the Philippines. He said the e-books and digital format copies of the textbooks shall also be made available and accessible to all public school students “in a manner deemed appropriate and reasonable by the Department of Education.” Villafuerte has been an advocate of digital transformation in Congress even before the Covid-19 contagion struck the country and the rest of the world at the onset of 2020. Earlier, he filed HB 1248 on E-Governance, which seeks to establish a contactless, electronic-based system of services in all government offices and state-run corporations to put flesh into President Duterte’s pitch in his latest State of the Nation Address to do away with paper-based official transactions and physical queueing in government offices in the midst of the pandemic.
J
APAN Tobacco International (JTI), a leading global tobacco company headquartered in Geneva, Switzerland, officially inaugurated the office of its Manila Global Business Service (GBS) Center recently. The office occupies one and a half floors of West Campus, 20 Le Grand Avenue, McKinley West, Fort Bonifacio, Taguig City. Its modern facilities include features such as full wireless experience via Wi-fi 6 technology, meeting room reservation via EVOKO, printers using uniflow server, Ergonomic workstations, and a Learning & Development auditorium. JTI’s Manila GBS Center is the company’s third of its kind globally, with the other two located in Warsaw, Poland and St. Petersburg, Russia. The center will provide sophisticated solutions, consulting and analytics to satisfy complex operational challenges in the areas of Finance, Marketing and Sales, People and Culture, Global Supply Chain and IT. The GBS is expected to increase operational efficiency by streamlining operations, harmonizing
business processes and sharing best practices across JTI global markets. In addition to Manila GBS Center, JTI already has an operating entity in the Philippines, as well as a modern state of the art factory in Malvar, Batangas. All in all, the group employs around 5,000 people in the country. Akhtar Hannan, Manila GBS general manager said, “The Covid-19 pandemic presented unprecedented challenges to our opening this year. However, we are grateful that we were still able to proceed with not only setting up the office but kick-starting our operations, thanks to the support of the JTI organization and the excellent local team that we have assembled. The jobs we have created is our small way of helping support the local economy while affirming once again the Philippines as an ideal investment destination.” Manila GBS Center’s recruitment is still ongoing. All open positions are posted on LinkedIn, Jobstreet and JTI SuccessFactors.
PHL logs highest rice production rate at 19.44M metric tons: DA
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A TRINIDAD, Benguet—The Philippines has recorded its highest rice production level at 19.44 million metric tons (MMT) this year, Agriculture Secretary William Dar revealed on Tuesday. “I just got the report this morning and record volume rice production is amounting to 19.44 million metric tons. This has surpassed the highest rice production in previous years. Ito na ’yung new record for the country to have reached this level of rice production [This rice production level is the newest Philippine record],” Dar told reporters on the sidelines of the groundbreaking of the P40-million processing and packaging facility at the Benguet Agripinoy Trading Center (BAPTC) here. This figure is higher than the 18.81 million MT produced in 2019 and the 19.07 million MT recorded in 2018, based on data from the Philippine Statistics Authority (PSA). Dar said this lower the country’s rice pro-
duction deficit. “Naitaas natin ng 3 percent although we were looking at 93 percent so ang ibig sabihin mas kokonti na ang deficit natin [We were able to raise the production rate by 3 percent although the target was 93 percent. This only means that the country’s deficit is lowered],” he said. He said that the country achieved a high production rate despite the series of typhoons that hit several areas and the coronavirus disease 2019 (Covid-19) pandemic. He added that every year, the government increases its targets to be able to cut on the rice importation needs of the whole country. The biggest contributors to local rice production is Central Luzon, followed by Cagayan Valley and Ilocos region, Dar said. In the Visayas, Iloilo is the top producer of rice while the regions of Northern Mindanao and Soccsksargen are the biggest contributors to the country’s rice production in Mindanao. PNA
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More than bike lanes, QC eyes facilities for urban cyclists By Jonathan L. Mayuga @jonlmayuga
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HE Quezon City Council has expressed its support for safe cycling in the city through the QC Safe Cycling and Active Transport Ordinance. Authored by District 2 Councilor Fernando Miguel “Mikey” Belmonte, the ordinance aims to boost the plan to put up more than just bike lanes, but also to provide hydration and repair stations, including shower facilities for bikers to use in their travels, as the Covid-19 pandemic continues to greatly reduce the capacity of public transportation options, particularly in Metro Manila. “We want to go the extra mile for Quezon City’s residents by promoting cycling as a convenient alternative. Cycling as an activity doesn’t just address the current problem of limited availability in transportation; it also promotes fitness and reduces pollution to protect the city,” Belmonte said in a news statement. Belmonte who is serving his first term as a member of the city council underscored the need for institutional policies to support alternative transportation. The new ordinance will create a Bicycle and Active Transport Section (BATS) under the Department of Public Order and Safety-Green Transport Office. BATS will spearhead the identification and establishment of a network of cycling lanes and walking paths in order to create a comprehensive plan to include infrastructure and traffic engineering solutions to support active transport in the city. According to Belmonte, a major provision of the ordinance includes laying down around 90 kilometers of bike lanes throughout the city. These bike lanes will be strategically placed for easier access to vital establishments, such as hospitals, markets, transport terminals, educational institutions, and government offices.
Hydration facilities, as well as green rest and repair stations with tools can be found along these routes. The ordinance, which has been approved on third reading, also proposes dedicated parking stations for all modes of active transportation including e-bikes and e-kick scooters. These will be located in city-managed offices, MRT and LRT terminals, and major business establishments such as malls, restaurants, banks, and grocery stores. Changing rooms and shower facilities will also be established. “City Hall employees will be the first to benefit from the shower stations because we want them to set an example for other QC residents,” Belmonte added. “The number of City Hall employees that have taken up cycling as their method of getting to work has significantly increased, and with the establishment of these facilities, we know that they will continue to grow,” he said. To maximize the use of technology, an app is also currently being developed to assist cyclists on the best bike lane routes they can use to navigate to their destination within the city. In writing the proposal, the councilor shared that the city’s legislative body worked with various cycling groups. “We wanted to take a more holistic approach by working closely with cycling groups such as Cycling Matters, Electric Kick Scooter PH, United Bikers’ Marshalls, Greenpeace Philippines, and Kalyetista to develop these plans and be able to address the issues that our cycling citizens have been facing during their daily rides,” Belmonte said. “We see this as the beginning of a new era for the city. We know it will take years for many of these changes to be enforced but we’re confident that promoting active transport will be beneficial to commuters, cyclists, and all of Quezon City,” he added.
Duterte to PNP: Keep lawman in Tarlac shooting behind bars
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RESIDENT Duterte on Tuesday said he would rather see the Parañaque policeman who shot dead a woman and her son last Sunday in Paniqui, Tarlac, behind prison. In his public address on Monday, the President ordered the Philippine National Police (PNP) to keep Senior Master Sergeant Jonel Nuezca under detention after he shot dead at point blank range Sonya Gregorio and her son Frank Anthony Gregorio following an altercation. The President said he personally saw the viral video of the “double murder” and condemned Nuezca’s brutality in committing the criminal acts.
“I’d like to call the PNP: Be sure that he is detained ha. He should not be allowed to go out because that is a serious offense. There’s no bail,” Duterte said. He stressed he will not tolerate such grave infractions committed by policemen. Interior Secretary Eduardo Año said the inquest of Nuezca was already completed on Monday. He said the policeman is now facing two counts of murder, which was filed at the Regional Trial Court Branch 67 in Paniqui, Tarlac. Año reiterated that Nuezca’s case should be considered an isolated instance in the Philippine National Police. Samuel P. Medenilla
Wednesday, December 23, 2020 A5
Amid spike in cases, tighter quarantine controls eyed in 3 regions next month By Samuel P. Medenilla
M
@sam_medenilla
ALACAÑANG on Tuesday said three regions may be placed under stricter quarantine protocols by next month due to the rising novel coronavirus (Covid-19) cases in the said areas.
In an online news briefing, Presidential spokesman Harry Roque said they are now closely monitoring infection incidents in the Cordillera
Administrative Region (CAR), Calabarzon and the Davao region. “…The regional health-care utilization and the attack rate
[in the said areas], that is the reason why we will change the quarantine classifications in an area,” Roque explained. Currently, the health-care utilization rate in CAR is 52 percent, while for Calabarzon and Davao region, it is at 44 percent and 51 percent, respectively. The said regions are nearing the moderate utilization level, which is at 60 percent. Roque noted that if the utilization rate in the said areas reaches critical level, which is at 70 percent, the Covid-19 patients from the said region will be transferred to other areas, which still have available
Nolcom bags governance transformation award
ARMED Forces Chief of Staff General Gilbert Gapay (left) awards the Gold Governance Trailblazer Certification to Lt. Gen. Arnulfo Marcelo B. Burgos Jr., commander of the Northern Luzon Command, for having fulfilled all the requirements for the unit and garnering an overall rating of 97.28 percent for the AFP Transformation Roadmap Institutionalization Pathway. The awarding ceremony is one of the highlights of the AFP 85th Founding Anniversary celebration on Monday at Camp Aguinaldo, Quezon City. PHOTO COURTESY OF AFP By Rene Acosta
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@reneacostaBM
HE military’s Northern Luzon Command (Nolcom) has bagged the Gold Trailblazer Award in its bid to attain the Institutionalization Status of the Armed Forces of the Philippines Transformation Roadmap Institutionalization Pathway (AFPTRIP). Armed Forces Chief of Staff Gen. Gilbert Gapay presented the award to Nolcom commander Lt. Gen. Arnulfo Marcelo Burgos Jr. during the 85th founding anniversary of the AFP at Camp Gen Emilio Aguinaldo on Monday. The AFPTRIP is a governance re-
form program that aims to provide a rational and long-term basis for the organizational and capability thrusts of the AFP; establish and synchronize the various reform initiatives; and to advance and institutionalize good governance and performance excellence. Having earned the institutionalized status is a validation that the system and processes of good governance and performance excellence are already ingrained in Nolcom. Gapay lauded the Nolcom for its achievement, saying that the award could serve as an inspiration to other units “pursue our vision and commit to genuine transformation.”
Burgos attributed the accomplishment to the firm c o m m i t ment for or g a n i zat ional excellence of t he of ficers, enlisted personnel, and civ ilian
Bicol PNP head wants sanctions against Bato town cop chief
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EGAZPI CITY—The leadership of the Philippine National Police (PNP) in Bicol region on Tuesday said it has directed the Catanduanes police director to recommend appropriate sanctions against the chief of police of Bato town over the latter’s social-media post on the killing of a mother and son by a cop from Tarlac. Brig. Gen. Bartolome Bustamante, in a text message, said, “I have directed police provincial director [Col. Brian] Castillo to issue a show-cause order against police Capt. [Ariel] Baruga, the town police officer-in-charge.” On Monday, Bato town Mayor Juan Rodulfo recommended the removal of Baruga who issued a statement on Facebook about the brutal killing of the mother and son that went viral on the Internet. He asked Castillo to transfer Baruga for his biased statement. Rodulfo, in his letter, said “We find it very disturbing that Capt. Baruga’s FB post cited that the slain mother was at fault because she did not give due respect to the policeman, prompting him
health-care facilities through the One Hospital Command Center of the Department of Health. The Palace official, however, assured the existing community quarantine classifications in the said areas will remain until next month. Currently, only the National Capital Region, Batangas, Iloilo, Tacloban City, Lanao del Sur, Iligan, and Davao City are under general community quarantine (GCQ). The rest of the country are under modified GCQ (MGCQ). The government is anticipating a spike in Covid-19 after the Christmas holidays.
A COPY of the letter of Bato Mayor Juan Rodulfo to Catanduanes police chief Col. Brian Castillo dated December 21, 2020. Rodulfo asked for the removal of town police chief Capt. Ariel Baruga over the latter’s remarks on the viral killing of a mother and son in Tarlac province.
to shoot the victims.” “Much as we respect his right to publicly pronounce his personal opinion regarding the killings, he should have exercised restraint and prudence in doing so, considering that he is the Chief of Police of this town,” he said. In his letter, Rodulfo asked the police provincial director to relieve Baruga to allay the fears of his constituents. He said Baruga’s loyalty seems to rest primarily on his fellow policemen rather than the oath he took to serve and protect the people. Baruga, in his FB post said, “Lesson learned kahit puti na ang buhok o ubanin na tayo eh matuto rumispesto sa ating mga Kapulisan, mahirap kalaban ang pagtitimpi at pagpapasensya [even if our hair turns grey, we should learn to respect our police, it’s hard to fight against restraint and tolerance]. RIP Nanay and Totoy.” The municipal police chief’s statement angered thousands of netizens who were outraged over brutal killing of the unarmed victims. PNA
employees of Nolcom. “This achievement attests to your resolute and dedication in pursuit of excellence and genuine reforms for our command,” he said. “As we sustain our efforts for organizational excellence, our approach must be anchored on best strategies and innovations as we implement longterm reform initiatives,” he added. Nolcom’s journey toward genuine transformation began in December 2014 when the unit attained the initiation status having formulated strategies to achieve organizational excellence. In April 2019, it attained the compliant status, having established mechanisms that will align its strategies with that of the higher headquarters. In January this year, the unit attained the proficient status, having implemented a functional system and processes for genuine reform. The institutionalization status is the fourth and final stage of the AFPTRIP, after which units conferred with such status will undergo re-certification to sustain their gains and ensure continuous implementation of the transformation road map.
BusinessMirror
Wednesday, December 23, 2020
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DALETH CORPORATION Units A & B 20/f Rufino Pacific Tower 6784 Ayala Ave. Cor. V.a. Rufino St. San Lorenzo Makati City 101.
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DAXIFA CORPORATION Mpire Center 93 West Avenue Project 7 Bungad 1 Quezon City 102.
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MANDARIN CUSTOMER SERVICE
148.
YI, ZIQING Chinese
MARKETING STAFF MANDARIN SPEAKING
73.
GAO, PENGXIANG Chinese
MANDARIN CUSTOMER SERVICE
GLOBALLGA BUSINESS PROCESS OUTSOURCING Ground Level, Level 2-5 Floor Silver City 4, Ortigas East Ugong Pasig City
149.
ZHANG, FUJI Chinese
MARKETING STAFF MANDARIN SPEAKING
74.
HU, PENG Chinese
MANDARIN CUSTOMER SERVICE
67.
JUNG, SEOK YEON South Korean
MARKETING OFFICER (KOREAN MARKET)
ASIAN TECHNOLOGY SERVICES, INC. 11/f Tower 2 Double Dragon, Macapagal Blvd. Brgy. 076 Pasay City 68.
YOON, SANGDON South Korean
CUSTOMER SERVICE REPRESENTATIVE
BERKELEY ENERGY PHILIPPINES BUSINESS SOLUTIONS CORPORATION 8f, Unit 8a, Inoza Tower 40th Street Bonifacio Global Taguig City JAI PRAKASH Indian
MANAGER-TRANSACTIONS
109.
FANG, ZUYI Chinese
CHINESE IT SUPPORT
110.
CUI, GAOFENG Chinese
CHINESE IT SUPPORT MANDARIN SPEAKING
150.
MANDARIN CUSTOMER SERVICE
ZHANG, XIAODONG Chinese
MARKETING STAFF MANDARIN SPEAKING
111.
GUO, QIANG Chinese
CHINESE IT SUPPORT MANDARIN SPEAKING
151.
ZHONG, BINCHENG Chinese
MARKETING STAFF MANDARIN SPEAKING
112.
HUANG, ZHUOQUAN Chinese
CHINESE IT SUPPORT MANDARIN SPEAKING
152.
ZHOU, LINQING Chinese
MARKETING STAFF MANDARIN SPEAKING
113.
KHIN MAR SWE Myanmari
CHINESE IT SUPPORT MANDARIN SPEAKING
114.
LI, BENPING Chinese
CHINESE IT SUPPORT MANDARIN SPEAKING
153.
115.
LIN, YULONG Chinese
CHINESE IT SUPPORT MANDARIN SPEAKING
INVECH TREASURE PROCESSING CORPORATION Ground, 2nd, 3rd, 4th, 5th Floor Six West Campus Mckinley West Fort Bonifacio Taguig City
116.
QIN, SHEYU Chinese
CHINESE IT SUPPORT MANDARIN SPEAKING
154.
DYLON FUNG KING KEAT Malaysian
COMPUTER TECHNICAL SUPPORT SPECIALIST
117.
SHE YIN Myanmari
CHINESE IT SUPPORT MANDARIN SPEAKING
155.
ZHANG, XU Chinese
COMPUTER TECHNICAL SUPPORT SPECIALIST
118.
SHI CUI Myanmari
CHINESE IT SUPPORT MANDARIN SPEAKING
156.
YANG, GAOPENG Chinese
QA (QUALITY ASSURANCE) SPECIALIST
119.
WEI, CHAO Chinese
CHINESE IT SUPPORT MANDARIN SPEAKING
ITECHNO SPECIALIST INC. 9/f 100 West Building Sen. Gil Puyat Ave. Pio Del Pilar Makati City
31.
LIM KAI WERN Malaysian
MANDARIN CUSTOMER SERVICE REPRESENTATIVE
75.
LI, JIALIANG Chinese
32.
LIU, YA Chinese
MANDARIN CUSTOMER SERVICE REPRESENTATIVE
76.
LIU, KECUN Chinese
MANDARIN CUSTOMER SERVICE
33.
LIU, PEIWANG Chinese
MANDARIN CUSTOMER SERVICE REPRESENTATIVE
77.
LIU, XING Chinese
MANDARIN CUSTOMER SERVICE
34.
LONG, LINYI Chinese
MANDARIN CUSTOMER SERVICE REPRESENTATIVE
78.
LIU, ZHELUN Chinese
MANDARIN CUSTOMER SERVICE
35.
LU, ZHENJUN Chinese
MANDARIN CUSTOMER SERVICE REPRESENTATIVE
79.
RU, JUNHAO Chinese
MANDARIN CUSTOMER SERVICE
36.
LUO, YUAN Chinese
MANDARIN CUSTOMER SERVICE REPRESENTATIVE
80.
TAO, MENG Chinese
MANDARIN CUSTOMER SERVICE
37.
MA, QIUXIA Chinese
MANDARIN CUSTOMER SERVICE REPRESENTATIVE
81.
TENG, RUIXUE Chinese
MANDARIN CUSTOMER SERVICE
38.
MAO, BAOJIAN Chinese
MANDARIN CUSTOMER SERVICE REPRESENTATIVE
82.
WANG, XINMING Chinese
MANDARIN CUSTOMER SERVICE
39.
MENG, XIAO Chinese
MANDARIN CUSTOMER SERVICE REPRESENTATIVE
83.
WANG, ZHICHANG Chinese
MANDARIN CUSTOMER SERVICE
40.
NGUYEN ANH DUC Vietnamese
MANDARIN CUSTOMER SERVICE REPRESENTATIVE
84.
XIN, XUAN Chinese
MANDARIN CUSTOMER SERVICE
ZHANG, XIANGQI Chinese
MANDARIN CUSTOMER SERVICE
41.
NGUYEN THI THU HANG Vietnamese
MANDARIN CUSTOMER SERVICE REPRESENTATIVE
85.
42.
QU, DANDAN Chinese
MANDARIN CUSTOMER SERVICE REPRESENTATIVE
86.
ZHANG, TAO Chinese
MANDARIN CUSTOMER SERVICE
43.
REN, LIANGLIANG Chinese
MANDARIN CUSTOMER SERVICE REPRESENTATIVE
87.
ZHAO, TONG Chinese
MANDARIN CUSTOMER SERVICE
IDNPLAY CORPORATION 8/f Burgundy Corporate Tower 252 Sen. Gil J.puyat Ave. Pio Del Pilar Makati City JO, MINHO South Korean
KOREAN-SPEAKING CUSTOMER SERVICE
BusinessMirror
www.businessmirror.com.ph
ESTABLISHMENT / ADDRESS NO.
ESTABLISHMENT / ADDRESS
FOREIGN NATIONAL / NATIONALITY
POSITION
NO.
157.
DAI, BINGYING Chinese
CHINESE IT SUPPORT SPECIALIST
200.
158.
HUANG, YULIANG Chinese
CHINESE IT SUPPORT SPECIALIST
159.
LIN, YUANDA Chinese
160.
ESTABLISHMENT / ADDRESS POSITION
NO.
SURYADANI KASMARANTA Indonesian
INDONESIAN CUSTOMER SERVICE REPRESENTATIVE
243.
201.
SWAN YONG Indonesian
CHINESE IT SUPPORT SPECIALIST
202.
LU, ZHIHUI Chinese
CHINESE IT SUPPORT SPECIALIST
161.
PU, QIAN Chinese
162.
NO.
INDONESIAN- MARKETING OFFICER
INDONESIAN CUSTOMER SERVICE REPRESENTATIVE
NEW ORIENTAL CLUB88 CORPORATION 3rd, 5th, 6th, 7th, 8th, 9th & 10th/f Pearl Marina Building Pacific Drive Don Galo Para単aque City
TEDY CEN JAYA Indonesian
INDONESIAN CUSTOMER SERVICE REPRESENTATIVE
244.
YU, SHUQING Chinese
203.
TONY Indonesian
INDONESIAN CUSTOMER SERVICE REPRESENTATIVE
245.
CHINESE IT SUPPORT SPECIALIST
204.
WILLY GONNERY Indonesian
INDONESIAN CUSTOMER SERVICE REPRESENTATIVE
WANG, ANCAN Chinese
CHINESE IT SUPPORT SPECIALIST
205.
YENNI LESTARI Indonesian
INDONESIAN CUSTOMER SERVICE REPRESENTATIVE
163.
WANG, QIANG Chinese
CHINESE IT SUPPORT SPECIALIST
LAMUDI TECHNICAL SERVICES CORP. Unit 28b 28/f Bpi Philam Life Bldg. 6811 Ayala Ave. Bel-air Makati City
164.
WEI, LIMING Chinese
CHINESE IT SUPPORT SPECIALIST
165.
XU, HENGFENG Chinese
CHINESE IT SUPPORT SPECIALIST
166.
ZHANG, YUNAN Chinese
CHINESE IT SUPPORT SPECIALIST
207.
PEI, FENG Chinese
CUSTOMER SERVICE REPRESENTATIVE
NEWLIFE PHARMACEUTICALS, INC. 2/f & 3/f 2667 Honduras St. San Isidro Makati City
167.
ZHAO, ZHICHAO Chinese
CHINESE IT SUPPORT SPECIALIST
208.
WANG, SIXIONG Chinese
CUSTOMER SERVICE REPRESENTATIVE
251.
168.
AIKE NYI YONE Myanmari
IT SUPPORT SPECIALIST
J-NA ALLOUT TECHNOLOGY SOLUTIONS CORP. 3/f Lipams Bldg. #48 President Avenue Bf Homes Para単aque City
URSOVICIU, DANIELADRIAN Romanian
CHIEF TECHNOLOGY OFFICER
LOGICALSOURCE1 CALL CENTER INC. 8/f Sultan Cityland Central Brgy. Highway Hills Mandaluyong City
MOA CLOUDZONE CORP. 4th-11th Flr. Nexgen Tower C4 Rd. Edsa Ext. Brgy. 076 Pasay City
FOREIGN NATIONAL / NATIONALITY
FOREIGN NATIONAL / NATIONALITY
POSITION
277.
LIN, HAIXIN Chinese
CHINESE IT SUPPORT SPECIALIST
278.
LIU, WENWEN Chinese
CHINESE IT SUPPORT SPECIALIST
CHINESE CUSTOMER SERVICE
279.
MA, BEIBEI Chinese
CHINESE IT SUPPORT SPECIALIST
DONG, LONGLONG Chinese
CHINESE CUSTOMER SERVICE
280.
PENG, LEILIN Chinese
CHINESE IT SUPPORT SPECIALIST
246.
LI, XIN Chinese
CHINESE CUSTOMER SERVICE
281.
PU, TING Chinese
CHINESE IT SUPPORT SPECIALIST
247.
YANG, BAOBAO Chinese
CHINESE CUSTOMER SERVICE
282.
TANG, YUN Chinese
CHINESE IT SUPPORT SPECIALIST
248.
YANG, HUAHUAN Chinese
CHINESE CUSTOMER SERVICE
283.
WANG, CHENGWEI Chinese
CHINESE IT SUPPORT SPECIALIST
249.
YE, LICHANG Chinese
CHINESE CUSTOMER SERVICE
284.
WANG, HONGSHENG Chinese
CHINESE IT SUPPORT SPECIALIST
250.
CHANG YIP MIN Malaysian
MALAYSIAN CUSTOMER SERVICE
285.
WEN, QILING Chinese
CHINESE IT SUPPORT SPECIALIST
286.
XIONG, LIN Chinese
CHINESE IT SUPPORT SPECIALIST
287.
YANG, LAIBIN Chinese
CHINESE IT SUPPORT SPECIALIST
288.
YANG, QIAOJING Chinese
CHINESE IT SUPPORT SPECIALIST
289.
ZHANG, YA Chinese
CHINESE IT SUPPORT SPECIALIST
290.
ZHENG, XINYAN Chinese
CHINESE IT SUPPORT SPECIALIST
291.
CHEN, YU-TING Taiwanese
IT SUPPORT SPECIALIST
292.
CHIN KIM YONG Malaysian
IT SUPPORT SPECIALIST
293.
JAMES WONG TUCK WAH Malaysian
IT SUPPORT SPECIALIST
294.
KONG YIE WEI Malaysian
IT SUPPORT SPECIALIST
295.
LAU CHUN HOONG Malaysian
IT SUPPORT SPECIALIST
296.
LEE ZONG LIN Malaysian
IT SUPPORT SPECIALIST
297.
LEONG WAI HONG Malaysian
IT SUPPORT SPECIALIST
298.
LIM CHI SUM Malaysian
IT SUPPORT SPECIALIST
299.
MAH DER CHING Malaysian
IT SUPPORT SPECIALIST
300.
NGUYEN PHUONG THAO Vietnamese
IT SUPPORT SPECIALIST
301.
VO NGOC THANH THANH Vietnamese
IT SUPPORT SPECIALIST
302.
VU KIE LOONG Malaysian
IT SUPPORT SPECIALIST
ENMIA GRACIA BANUAREA Indonesian
WADHWANI, KISHORE RAMESHLAL Indian
MARKETING MANAGER
NOCMAKATI, INC. 8,9,10,11,12,14,15,16,17,18 & 19 Floors Century Diamond Center Kalayaan Ave. Cor. Salamanca St. Poblacion Makati City
209.
CHEN, FENG Chinese
CHINESE CUSTOMER SERVICE
252.
HAO, YIFEI Chinese
HAO, YIFEI Chinese
169.
LIU, TIANTIAN Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
210.
DENG, YING Chinese
CHINESE CUSTOMER SERVICE
170.
LUAN, LING Chinese
MANDARIN CUSTOMER SERVICE REPRESENTATIVE
OKKDA ASIA TECHNOLOGY INC. Unit 5b 5/f Marvin Plaza 2153 C. Roces Ave. Pio Del Pilar Makati City
211.
DENG, JIE Chinese
CHINESE CUSTOMER SERVICE
253.
GAO, LIPING Chinese
BRAND SPECIALIST
212.
HUANG, CHAO Chinese
CHINESE CUSTOMER SERVICE
254.
LOH YEE WEI Singaporean
BRAND SPECIALIST
213.
JIA, CHONGKAI Chinese
CHINESE CUSTOMER SERVICE
255.
WANG, MENGYAO Chinese
214.
LI, WUPING Chinese
CHINESE CUSTOMER SERVICE
ORIENTAL TIN CAN & METAL SHEET MFG. 64 Gen. Luis Sitio Kapre Nagkaisang Nayon 2 Quezon City
215.
LI, YANHONG Chinese
CHINESE CUSTOMER SERVICE
256.
216.
MA, HE Chinese
CHINESE CUSTOMER SERVICE
QUALITY CORRUGATED BOX MANUFACTURING CORPORATION 4227 Avocado St. Bagbaguin Valenzuela City 257.
JIANG NAN SHI FU FOOD CORP. 223 Nicanor Garcia St. Bel-air Makati City 171.
DU, ZHIQIANG Chinese
CHINESE COOK SPECIALIZED IN FUJIAN CUISINE
JONES LANG LASALLE (PHILIPPINES), INC. 19/f Nex Tower 6786 Ayala Ave. San Lorenzo Makati City 172.
VICIC, CHRISTOPHE JOSEPH French
CHAIRMAN AND PRESIDENT
KONGANBUDDIES MARKETING INC. 12/f Pbcom Tower 6795 Ayala Ave. Cor. V.a. Rufino St. Bel-air Makati City 173.
AGUS FIRMANSYAH Indonesian
INDONESIAN CUSTOMER SERVICE REPRESENTATIVE
217.
MO, SHAN Chinese
CHINESE CUSTOMER SERVICE
174.
AWI LAW Indonesian
INDONESIAN CUSTOMER SERVICE REPRESENTATIVE
218.
QIU, PENGYU Chinese
CHINESE CUSTOMER SERVICE
175.
BELINDA RANGIAN Indonesian
INDONESIAN CUSTOMER SERVICE REPRESENTATIVE
219.
REN, LONG Chinese
CHINESE CUSTOMER SERVICE
176.
BENNY CHANDRA Indonesian
INDONESIAN CUSTOMER SERVICE REPRESENTATIVE
220.
TANG, CHAOJIE Chinese
CHINESE CUSTOMER SERVICE
177.
DANIEL ADI NUGROHO Indonesian
INDONESIAN CUSTOMER SERVICE REPRESENTATIVE
221.
TANG, XINJIAN Chinese
CHINESE CUSTOMER SERVICE
178.
DAVID FERNANDO Indonesian
INDONESIAN CUSTOMER SERVICE REPRESENTATIVE
222.
WANG, CHAO Chinese
CHINESE CUSTOMER SERVICE
179.
DERMAWAN Indonesian
INDONESIAN CUSTOMER SERVICE REPRESENTATIVE
223.
ZENG, RONGRONG Chinese
CHINESE CUSTOMER SERVICE
180.
DONNIE AGUSTHANG Indonesian
INDONESIAN CUSTOMER SERVICE REPRESENTATIVE
224.
ZHANG, HUAIMIN Chinese
CHINESE CUSTOMER SERVICE
181.
EDI SUSANTO Indonesian
INDONESIAN CUSTOMER SERVICE REPRESENTATIVE
225.
ZHANG, ZHIXIN Chinese
CHINESE CUSTOMER SERVICE
182.
EDO Indonesian
INDONESIAN CUSTOMER SERVICE REPRESENTATIVE
226.
ZHAO, XIAOQIANG Chinese
CHINESE CUSTOMER SERVICE
183.
EFENDI SUSANTO HARAHAP Indonesian
INDONESIAN CUSTOMER SERVICE REPRESENTATIVE
227.
ZHENG, JIA Chinese
CHINESE CUSTOMER SERVICE
184.
ENNY Indonesian
INDONESIAN CUSTOMER SERVICE REPRESENTATIVE
228.
ZHU, YAN Chinese
185.
ERIC PRIMA Indonesian
INDONESIAN CUSTOMER SERVICE REPRESENTATIVE
MPOTECH DIGITAL SYSTEM INC. 2/f 331 Bldg. Sen. Gil Puyat Ave. Bel-air Makati City
186.
FAISYAL TAMIN Indonesian
INDONESIAN CUSTOMER SERVICE REPRESENTATIVE
229.
RISKY PERMADI Indonesian
INDONESEIAN- MARKETING OFFICER
187.
FERY Indonesian
INDONESIAN CUSTOMER SERVICE REPRESENTATIVE
230.
NELLY Indonesian
INDONESIAN - MARKETING OFFICER
188.
FRANS THOMAS WILLIM Indonesian
INDONESIAN CUSTOMER SERVICE REPRESENTATIVE
231.
ALBET Indonesian
INDONESIAN CUSTOMER SERVICE REPRESENTATIVE
189.
HENDRA JAYA Indonesian
INDONESIAN CUSTOMER SERVICE REPRESENTATIVE
232.
ARDIAN TANOTO Indonesian
INDONESIAN CUSTOMER SERVICE REPRESENTATIVE
190.
INDAH PERMATASARI Indonesian
INDONESIAN CUSTOMER SERVICE REPRESENTATIVE
233.
DESEARNALDO ONGKY Indonesian
INDONESIAN CUSTOMER SERVICE REPRESENTATIVE
191.
JIMMY Indonesian
INDONESIAN CUSTOMER SERVICE REPRESENTATIVE
234.
HADI SUYONO Indonesian
INDONESIAN CUSTOMER SERVICE REPRESENTATIVE
192.
KRIESTIAN RISNADY Indonesian
INDONESIAN CUSTOMER SERVICE REPRESENTATIVE
235.
HARTADINATA KOSASIH Indonesian
INDONESIAN CUSTOMER SERVICE REPRESENTATIVE
193.
NILAM CAHAYA Indonesian
INDONESIAN CUSTOMER SERVICE REPRESENTATIVE
236.
IWAN HARTONO Indonesian
INDONESIAN CUSTOMER SERVICE REPRESENTATIVE
194.
SANDI YOWANDA Indonesian
INDONESIAN CUSTOMER SERVICE REPRESENTATIVE
237.
JIMMY ANDREAS Indonesian
INDONESIAN CUSTOMER SERVICE REPRESENTATIVE
RIO FEBRIAN Indonesian
INDONESIAN CUSTOMER SERVICE REPRESENTATIVE
SUSI Indonesian
INDONESIAN CUSTOMER SERVICE REPRESENTATIVE
CHINESE CUSTOMER SERVICE
195.
SHIN TONY Indonesian
INDONESIAN CUSTOMER SERVICE REPRESENTATIVE
238.
196.
STEPHEN LIE Indonesian
INDONESIAN CUSTOMER SERVICE REPRESENTATIVE
239.
TEHRI Indonesian
INDONESIAN CUSTOMER SERVICE REPRESENTATIVE
MARTIN, ROBERT Canadian
HE, YINGWEN Chinese
BRAND SPECIALIST
MARTIN, ROBERT Canadian
SALES EXECUTIVE
REDSHIELD SERVICES INC. Rm. 127 12/f Times Plaza Bldg. Un. Cor . Taft Ave. 072, Bgy. 666 Ermita Manila 258.
HUANG, FEI Chinese
FIELD MARKETING OFFICERMANDARIN
259.
DAI, LIJUAN Chinese
SITE CUSTOMER SERVICEMANDARIN
S&P GLOBAL PHILIPPINES INC. G/f Silver City 2 Frontera Drive, Ortigas East Ugong Pasig City 260.
GUPTA, GAUTAM Indian
ASSOCIATE DIRECTOR, FINANCIAL MODELING
SMARTINFO PHILIPPINES INC. U-405 Mjm Bldg. 650 J.p. Rizal Ave. Valenzuela Makati City 261.
LIU, YIRAN Chinese
ASSISTANT TREASURER
262.
MANN, MARK Canadian
ASSISTANT TREASURER
SODEXO BENEFITS AND REWARDS SERVICES PHILIPPINES, INC. 11/f Ba Lepanto Bldg. Paseo De Roxas Bel-air Makati City 263.
CETIN, MERT Turkish
CHIEF EXECUTIVE OFFICER
SOJITZ G AUTO PHILIPPINES CORPORATION Unit Ugc15 Edsa Grand Residences No.75 Corregidor St. Edsa, Ramon Magsaysay 1 Quezon City 264.
NISHI, YOSUKE Japanese
EXECUTIVE VICE PRESIDENT
265.
TAKAYAMA, MIKIHISA Japanese
PRESIDENT/CEO
SPEED QUALITY TECH INC. 3/f Eco Plaza Bldg. 2305 Chino Roces Ave. Extn. Magallanes Makati City 266.
GAO, YONGXIN Chinese
A7
ESTABLISHMENT / ADDRESS POSITION
206.
FOREIGN NATIONAL / NATIONALITY
Wednesday, December 23, 2020
MANDARIN CUSTOMER SERVICE SPECIALIST
TIANYU TECHNOLOGY INC. 27/f Pbcom Tower Ayala Avenue Cor. Rufino Street Bel-air Makati City
TIGER RESORT, LEISURE AND ENTERTAINMENT, INC. Okada Manila, New Seaside Drive Entertainment City Barangay Tambo Para単aque City 303.
XONGMIXAY-LAU, MANIDA American
ASSISTANT VICE PRESIDENT, BUSINESS SOLUTION
304.
KAMURA, SUMIRE Japanese
VICE PRESIDENT CORPORATE PLANNING
TOYOTA TSUSHO PHILIPPINES CORPORATION Unit 1504-1505 15th Floor One Global Place 5th Ave. Cor. 25th St. Bonifacio Global City Fort Bonifacio Taguig City 305.
NISHIKAWA, SHUSAKU Japanese
SALES MANAGER
VAN GOGH BUSINESS PROCESS OUTSOURCING INC. 5th To 8th Flr. Sm Southmall Tower 2 Alabang Zapote Rd. Almanza Uno Las Pi単as City 306.
LEI, LINGLI Chinese
COMPUTER TECHNICAL SUPPORT SPECIALIST
307.
ZHANG, XIANJIN Chinese
COMPUTER TECHNICAL SUPPORT SPECIALIST
308.
LIU, MANXING Chinese
I.T TECHNICAL MANDARIN
W.E.W RESOURCE MANAGEMENT, INC. 50/f Pbcom Tower 6795 Ayala Ave. Cor. V.a. Rufino St. Bel-air Makati City 309.
DAO TUYET MAI Vietnamese
MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE
310.
LI, LANG Chinese
MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE
267.
ZHAO, LIN Chinese
CHINESE IT SUPPORT SPECIALIST
311.
MAC THI VIEN Vietnamese
MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE
268.
DU, XUDONG Chinese
CHINESE IT SUPPORT SPECIALIST
312.
NGUYEN THI KIEU OANH Vietnamese
MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE
269.
FU, LEI Chinese
CHINESE IT SUPPORT SPECIALIST
313.
TRAN CAM LIN Vietnamese
MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE
270.
FU, RUJIE Chinese
CHINESE IT SUPPORT SPECIALIST
271.
GAO, QI Chinese
CHINESE IT SUPPORT SPECIALIST
272.
GUO, CHANGYAN Chinese
CHINESE IT SUPPORT SPECIALIST
273.
HE, DICE Chinese
CHINESE IT SUPPORT SPECIALIST
274.
KUANG, XIAOMEI Chinese
CHINESE IT SUPPORT SPECIALIST
197.
STEVEN TJOENG Indonesian
INDONESIAN CUSTOMER SERVICE REPRESENTATIVE
240.
198.
SUANTI Indonesian
INDONESIAN CUSTOMER SERVICE REPRESENTATIVE
241.
UCI JENI Indonesian
INDONESIAN CUSTOMER SERVICE REPRESENTATIVE
275.
LI, LINQIAN Chinese
CHINESE IT SUPPORT SPECIALIST
199.
SURIYAWATI Indonesian
INDONESIAN CUSTOMER SERVICE REPRESENTATIVE
242.
VICKY Indonesian
INDONESIAN CUSTOMER SERVICE REPRESENTATIVE
276.
LIN, CHUNWAN Chinese
CHINESE IT SUPPORT SPECIALIST
*Date Generated: Dec 22, 2020 In the ad material of Notice of Filing of Application for Alien Employment Permits published on November 07, 2020, the position of KUWAHARA, YUKA under THE JAPANESE ASSOCIATION, MANILA, INC., should have been read as JAPAN DESK STAFF and not as published. Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at DOLE-NCR Regional Office located at DOLE-NCR Building, 967 Maligaya St., Malate Manila, within 30 days after this publication. Please inform DOLE-NCR if you have any information on criminal offense committed by the foreign nationals.
ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR
A8
Wednesday, December 23, 2020
The World BusinessMirror
Editor: Angel R. Calso • www.businessmirror.com.ph
Isolated UK battles to reopen trade route after day of chaos
B
ritish Prime Minister Boris Johnson said he’s trying to reopen trade routes to France “as fast as possible” after a day of crossChannel political bartering failed to end the chaos at the UK’s busiest port.
A police officer directs traffic at the entrance to the closed ferry terminal in Dover, England on December 21, after the Port of Dover was closed and access to the Eurotunnel terminal suspended following the French government’s announcement. France banned all travel from the UK for 48 hours from midnight Sunday, including trucks carrying freight through the tunnel under the English Channel or from the port of Dover on England’s south coast. AP/Kirsty Wigglesworth
France shut down freight traffic from Dover in southeast England at midnight on Sunday because of fear over a faster-spreading mutant strain of Covid-19 that forced the UK government to impose a strict lockdown on London and surrounding areas. Spain and Portugal, meanwhile, joined dozens of countries restricting flights and effectively isolating the UK. Johnson said he’d spoken with French President Emmanuel Macron while Transport Secretary Grant Shapps had been in talks
with his counterpart. “We both understand each other’s positions and want to resolve these problems as fast as possible,” Johnson told a press conference on Monday. The government is drawing up contingency plans to test truck drivers for coronavirus before they leave the UK, the Telegraph newspaper reported late Monday, citing an official it didn’t identify. The search for a solution to keep goods flowing in and out of Britain comes after another taxing weekend for the UK at the end of
a torrid year. A spike in coronavirus infections forced Johnson to backtrack on allowing people to spend the festive period together while talks with the European Union on a post-Brexit trade deal missed another deadline.
Brexit warning
The upheaval just 10 days before Britain’s post-Brexit transition period is due to end also gave the country a foretaste of what could ensue. Without an accord, the UK will default to trading with the EU on World Trade Organization terms, with the imposition of costly tariffs and quotas, and the threat of more tailbacks at ports as haulers cope with new bureaucracy. The economy is already buckling again, with London, the most critical dynamo for growth, in lockdown. Bloomberg Economics revised its outlook on Monday to predict another recession at the start of 2021. The pound plunged against the dollar, marking its worst day since the coronavirus hit markets in March. Outside Dover, trucks lined up on the M20 highway as an emergency plan was triggered with drivers unable to board ferries. The Department for Transport also prepared to open Manston Airport in Kent, which is being overhauled to accommodate as many as 4,000 vehicles as part of Britain’s planning for a no-deal outcome from the EU trade talks. Johnson sought to downplay the crisis, stressing the closure only applies to “a very small percentage” of food entering the UK. “The vast majority of food, medicines and other supplies are coming and going as normal,” he said. “The government has been preparing for a long time for exactly this kind of event.”
Vaccine shipments
The UK this month became the first Western country to authorize a coronavirus vaccine. Johnson’s spokesman, Jamie Davies, told reporters that the program would be unaffected because the nation already has the majority of this year’s supply from Pfizer Inc. Shapps earlier said the border snarl-up only affects about 20 percent of incoming trade, and that haulers are accustomed to disruption across the Dover-Calais strait because of the weather and strikes. Nevertheless, the latest challenge is exposing Britain’s trade vulnerabilities just as a 4 1/2year odyssey to leave the EU moves from political rhetoric to economic reality. Container ports and ferr y terminals were already congested because of stockpiling ahead of the December 31 deadline marking a final break from the European single market. Business groups facing catastrophic losses urged the government to act soon, with the 18,000-member Logistics UK calling for rapid Covid-19 testing of truckers departing the country as the quickest way of protecting supply chains. Meanwhile, there were long queues at some supermarkets in London, with fresh produce fast disappearing from shelves. French Transport Minister Jean-Baptiste Djebbari said European nations are working on “a solid health protocol” to be implemented “in the coming hours.” But a meeting of the EU’s crisis response experts in Brussels on Monday ended without a decision on how to proceed, according to an EU official, who spoke on condition of anonymity. Some members of the group called for an urgent discussion at political level to resolve the issue. Bloomberg News
Fresh coronavirus wave tests S. Korea’s no-lockdown policy
T
ime after time this year, South Korea prevented the coronavirus from spreading uncontrollably, applying its elite testingand-tracing practices that have become a global model for managing the pandemic without draconian, economy-sapping lockdowns. Now, this “living with the virus” strategy—as the nation of 51 million calls it—is being tested like never before. While case numbers are still small compared to the US and parts of Europe, Korea saw new infections top 1,000 for five consecutive days through Sunday, a staggering jump from an average of about 100 in previous months. The fierce winter wave has alarmed a country that’s drawn pride from being globally lauded for its Covid-19 response. Korean health officials concede the latest outbreak has been particularly challenging to combat as small clusters of infections are more widespread and sprouting across the country. Prior surges were concentrated in a region or among specific groups such as churchgoers or young clubbers. In an attempt to prevent a year-end surge, Prime Minister Chung Sye-kyun said Tuesday the country will shut down ski resorts and other tourist spots during the upcoming holiday season, and will restrict entrance to nursing-homes that are typically more vulnerable to virus infections. The latest measures come a day after Seoul Metropolitan Government announced that it and its neighboring Gyeonggi Province and Incheon city will ban holiday parties with five or more people from December 23 to January 3. Weddings and funerals are exempt. Health experts say South Korea has been hit with a perfect storm: a public tired of restrictions, a government wary of imposing more severe measures and colder weather that makes people spend more time indoors where the virus spreads more efficiently. The setback comes as other places that previously steered clear of lockdowns like Japan and Sweden also face persistent winter waves, suggesting the virus is testing more laissez-faire strategies that emphasized voluntary actions rather than top-down restrictions. Korea and Japan, which doesn’t have the legal power to force a lockdown, have dropped out of the top five in Bloomberg’s Covid Resilience Ranking,
A medical worker wearing personal protective equipment collects a sample from a visitor at a temporary Covid-19 testing station outside Seoul Station in Seoul, South Korea, on December 14. South Korea reported a drop in new cases on Monday after posting a record of more than 1,000 infections on Sunday and Prime Minister Chung Sye-Kyun said implementing the strictest level of social distancing measures is a last resort. Bloomberg which scores economies on their handling of the virus with the least social and economic disruption. In contrast, places that pursued heavier-handed strategies aimed at eliminating the virus like Australia, New Zealand and China are not seeing cases flare to the same degree. “Perhaps there is overconfidence with the K-Quarantine,” said Kim Woo Joo, professor of infectious disease at Korea University’s Guro Hospital, referring to a term coined after the country’s K-Pop. After extensive testing and tracing, Korea contained multiple surges including two major outbreaks in early spring in the southern city of Daegu and then over the summer in Seoul. Daily new cases were brought down to double digits after those outbreaks. But as the weather began to cool, virus clusters started to emerge and spread—many of them at restaurants, spas and fitness centers as more people withdrew indoors, where poor ventilation and close confinement can fuel transmission.
By the book
As cases inched up, health authorities returned to their tried-and-true playbook. The government gradually raised the virus alert level, triggering stricter social-distancing measures, including limiting the number of people who can attend sporting events or group gatherings.
But this time, the gradual escalation isn’t having the same impact as before, said Ki Moran, an epidemiology professor at the Goyang-based National Cancer Center. South Koreans who diligently wore masks and refrained from dining out during earlier outbreaks seem to be no longer adhering strictly to the social-distancing rules. “Before, people were alarmed when cases reached just 100 and urged closing day care centers,” Ki said. “Now, even when cases top 1,000, people are complaining that if day care centers close, there will be no other place they can take their kids. People are not as wary of the virus anymore and there is fatigue with the government measures. People are not listening.” Temperatures dipping below freezing also aren’t helping health authorities fight the surge, health experts said. “The virus is getting stronger in the winter while the public is getting less alert,” Ki said.
Saving the economy
At the same time, the Korean government has been reluctant to move toward stricter restrictions because of the potential blow to the economy, said Jung Ki-suck, former head of Korea’s Center for Disease Control & Prevention who is now a professor at Hallym University Medical Center. The economy has fared better than in other developed countries because of Korea’s strategy
of managing the pandemic rather than pursuing virus elimination, as places such as China and New Zealand have done—an approach that requires lockdowns. “When South Korea eased social-distancing measures in the fall, the decision was made in consideration of the economy,” Jung said. “So when the virus started to spike, those who argued for containing the virus first and saving the economy later were not heard.” Last week, senior health ministry official Yoon Tae-ho said in a briefing that while the criteria for raising the virus alert to the highest level was met—reaching a weekly average of 800 or more new cases a day—the government was still weighing the decision because the “social and economic impact would be too great.” Raising the alert level to 3 could mean closing or restricting operations of as many as two million businesses, according to South Korean government officials.
‘Positive signs’
H ealth authorities are instead focused on expanding testing: setting up nearly 200 temporary diagnosis centers and doubling the number of people tested to almost 50,000 a day. They’re also boosting the country’s army of contact tracing investigators. “The increase in preemptive tests and finding hidden patients early will inevitably lead to a temporary increase in the number of confirmed cases,” Yoon said. “But this is an effective strategy to reduce the number of confirmed cases as soon as possible.” On Monday, Prime Minister Chung said there were “positive signs” that the playbook may be working again. Based on tracking of mobile phone use, vehicle traffic and credit card transactions, there has been a noticeable fall-off in people moving about outdoors. The proportion of confirmed Covid-19 patients age 60 or older is also gradually decreasing, he said. “The effectiveness of large-scale preemptive testing is being confirmed,” Chung said in a briefing Monday, when daily infections declined to 926, the first time they’ve dipped below 1,000 in a week.
Bloomberg News
New York Gov. Andrew Cuomo speaks to members of New York state’s Electoral College before voting for president and vice president in the Assembly Chamber at the state Capitol in Albany, NY on December 14. AP/Hans Pennink
Cuomo asks airlines to test passengers coming from UK
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LBANY, NY—New York Gov. Andrew Cuomo said Monday that he has asked airlines flying into the state from the United Kingdom to make all passengers take a Covid-19 test before they get on the plane. The Democrat said three airlines with scheduled flights from London to New York—British Airways, Delta and Virgin Atlantic— had agreed to comply. Starting Thursday, Covid-19 testing will be required up to 72 hours prior to departure for all passengers of Delta and its partner Virgin Atlantic traveling from the UK to New York or Atlanta, a Delta spokeswoman said Monday. Cuomo has been calling on the US government to temporarily halt all flights from the UK because of the emergence there of a new strain of the coronavirus. Numerous nations have already taken that step out of concern that the newly identified strain might be more easily transmitted. “I think the United States should do what other countries have done, which is halt the travel,” Cuomo said, adding that too much was still unknown about whether the mutated virus would pose more of a threat. “I was on the phone with top experts all weekend. We don’t know if it’s more deadly. We don’t know how much more easily it’s transmitted.” Cuomo added t h at he be lieved he had the legal authority as governor to ask airlines to test passengers in the absence of federal action.
Vaccines In nursing homes
Cuomo said the state’s 85,000 nursing home residents began receiving vaccinations Monday
morning under a federally run program. It could take six weeks to vaccinate residents as well as many as 130,000 nursing home staffers, he said. Pharmacy workers who will administer the vaccines will also receive vaccinations themselves. “The Covid-19 virus is the greatest public health threat our country has faced in most of our lifetimes, and our nursing home and assisted living residents and dedicated health care workers are on the front line of this pandemic,” said Stephen Hanse, President & CEO of the New York State Health Facilities Association and the New York State Center for Assisted Living. Hanse said assisted living residents and staff are next on New York vaccination priority list and will begin receiving Covid-19 vaccinations in early 2021. Cuomo said the state expects to receive another 630,000 doses by this week from Moderna and Pfizer. He said New York will add EMTs, coroners, medical examiners, funeral home workers and other group home workers to its priority list. The number of new virus infections has begun to flatten in New York over the past week, according to the latest state Department of Health data. The state averaged 10,400 new infections each day over the past seven days, up about 3 percent from a week ago and up 12 percent from two weeks ago. Nearly 202,000 people have tested positive for Covid-19 in New York so far in December. Hospitals statewide were treating about 6,340 Covid-19 patients as of Sunday, which is up 38 percent from two weeks ago, Cuomo said. AP
Biden gets Covid-19 vaccine, says ‘nothing to worry about’
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EWARK, Delaware—President-elect Joe Biden on Monday received his first dose of the coronavirus vaccine on live television as part of a growing effort to convince the American public the inoculations are safe. The president-elect took a dose of Pfizer vaccine at a hospital not far from his Delaware home, hours after his wife, Jill Biden, did the same. The injections came the same day that a second vaccine, produced by Moderna, will start arriving in states. It joins Pfizer’s in the nation’s arsenal against the Covid-19 pandemic, which has now killed more than 317,000 people in the United States and upended life around the globe. “I’m ready,” said Biden, who was administered the dose at a hospital in Newark, Delaware. The presidentelect rolled the left sleeve of his turtleneck all the way up to his shoulder, then declined the option to count to three before the needle was inserted into his left arm. “You just go ahead anytime you’re ready,” he told the nurse practitioner who administered the shot. Biden emphasized the safety of the vaccine, and said President Donald J. Trump’s administration “deserves some credit” for getting the vaccine distribution process “off the ground.” “I’m doing this to demonstrate that people should be prepared when it’s available to take the vaccine,” he added. “There’s nothing to worry about.” He noted, however, that distributing the vaccine is “going to take time,” and urged Americans to take precautions during the holiday season to avoid the spread of the virus, including wearing masks. “If you don’t have to travel, don’t travel,” he said. “It’s really important.” Biden also thanked health care workers, and offered praise and an elbow bump to Tabe Mase, the
nurse practitioner who administered his first dose of the vaccine. Vice President-elect Kamala Harris and her husband are expected to receive their first shots next week. Other top government officials have been in the first wave of Americans to be inoculated against Covid-19 as part of the largest vaccination campaign in the nation’s history. Vice President Mike Pence, House Speaker Nancy Pelosi, D-Calif., Senate Majority Leader Mitch McConnell, R-Ky., and other lawmakers were given doses Friday. They chose to publicize their injections as part of a campaign to convince Americans that the vaccines are safe and effective amid skepticism, especially among Republicans. President Donald Trump is discussing with his doctors the timing for taking the vaccine, the White House has said. He tweeted earlier this month that he was “not scheduled” to take the vaccine but that he looked “forward to doing so at the appropriate time.” The White House has offered another reason for waiting, saying Trump was showing support for the most vulnerable to get the vaccine first. Trump was hospitalized with Covid-19 in October and given an experimental monoclonal antibody treatment that he credited for his swift recovery. A Centers for Disease Control and Prevention advisory board has said people who received that treatment should wait at least 90 days to be vaccinated to avoid any potential interference. Dr. Anthony Fauci, the nation’s top infectious diseases expert, and other experts have recommended that Trump be vaccinated without delay as a precaution. AP
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Wednesday, December 23, 2020
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Senator: Treasury Dept e-mail accounts compromised in hack
A Marine stands outside the entrance to the West Wing of the White House, signifying the President is in the Oval Office on December 21, in Washington. AP/Evan Vucci
Trump, House lawmakers plot futile effort to block Biden win
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ASHINGTON—President Donald Trump hosted several House Republican lawmakers at the White House on Monday to discuss an ultimately futile effort to block Congress from affirming President-elect Joe Biden’s victory in the November election. The meeting underscored Trump’s refusal to accept the reality of his loss and his willingness to entertain undemocratic efforts to overturn the will of the majority of American voters. Biden will be sworn in as president on January 20. With no credible legal options remaining and the Electoral College having confirmed Biden’s victory earlier this month, Trump is turning his attention to January 6. That’s when Congress participates in a count of the electoral votes, which Biden won 306-232. The count, required by the Constitution, is generally a formality. But members can use the event to object to a state’s votes. Rep. Mo Brooks, R-Ala., said he organized Monday’s session with about a dozen House Republicans who are willing to challenge the results. “President Trump is very supportive of our effort,” Brooks said in an interview late Monday. With Democrats holding the House majority and several Republican senators now acknowledging Biden’s victory, any effort to block congressional approval of the election appears sure to fail. Senate Majority Leader Mitch McConnell has warned his members against taking such a step. Sen. John Thune, the No. 2 Senate Republican, urged lawmakers to remember that an effort to block the election results in Congress was “just not going anywhere.” “I mean, in the Senate, it would go down like a shot dog,” Thune told CNN. “I just don’t think that it makes a lot of sense to put everybody through this when you know what the ultimate outcome is gonna be.” Still, Trump has continued to dangle the possibility of congressional intervention. Brooks said Monday’s White House meeting was originally scheduled for about an hour, but lasted for three hours, with Trump participating for much of it. Other attendees including Trump’s personal lawyer, Rudy Giuliani, who has spent the weeks since the election promoting false claims of voter fraud. Brooks said he also met with Vice President Mike Pence. As president of the Senate, Pence is to preside over the January 6 session and declare the winner. Brooks said the group is making plans to challenge
the election results from Michigan, Wisconsin, Pennsylvania, Georgia and Nevada, all battleground states Biden carried. Brooks in particular has raised questions about the way state elections were conducted this year, with some having made changes to ballots and procedures during the pandemic. While the new procedures may have led to confusion in some states, state and federal officials have said there was no credible evidence of widespread fraud. Still, Trump’s top aides, including chief of staff Mark Meadows, continued on Monday to push false claims of election malfeasance, without providing any evidence. A range of nonpartisan election officials and Republicans have confirmed that there was no fraud in the November contest that would change the results of the election. That includes Attorney General William Barr, who on Monday said he saw no reason to appoint a special counsel to look into the president’s claims about the 2020 election. Trump has discussed doing so with some of his advisers. Trump and his allies have filed roughly 50 lawsuits challenging election results, and nearly all have been dismissed or dropped. He’s also lost twice at the US Supreme Court. With no further tenable legal recourse, Trump has been fuming and peppering allies for options as he refuses to accept his loss. On January 6, a lawmaker can object to a state’s votes on any grounds. The objection will not be heard unless it is in writing and signed by both a member of the House and a member of the Senate. If there is such a joint request, then the joint session suspends and the House and Senate go into separate sessions to consider it. For the objection to be sustained, both chambers must agree to it by a simple majority vote. If they disagree, the original electoral votes are counted. The last time such an objection was considered was in 2005, when Rep. Stephanie Tubbs Jones of Ohio and Sen. Barbara Boxer of California, both Democrats, objected to Ohio’s electoral votes by claiming there were voting irregularities. Both chambers debated the objection and rejected it. It was only the second time such a vote had occurred. McConnell has told Senate Republicans that a dispute over the results in January would yield a “terrible vote” for Republicans. They would have to choose whether to back Trump or publicly buck him. AP
Japan ex-premier Abe questioned by prosecutors on party funding
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ormer Japanese Pr ime Minister Shinzo Abe was questioned by prosecutors looking into allegations political funds were improperly used to subsidize parties for voters, Kyodo News reported, in a case casting a shadow over the current premier. Abe submitted to voluntary questioning by prosecutors on Monday, Kyodo cited sources close to the matter as saying. The Kyodo report added prosecutors are seeking to build a case against Abe’s state-paid secretary for allegedly not recording income and expenditures related to the dinner functions. National public broadcaster NHK also had a similar report. Prosecutors have said they wouldn’t comment on individual cases. But the Tokyo Shimbun newspaper and other media have said the investigation centered on whether the aide violated campaign financing laws by using the funds to subsidize dinner parties for supporters, held every year at a hotel the night before a publicly funded cherry-blossom party. Abe, who stepped down in September for health reasons, has repeatedly denied any wrongdoing over the gatherings. But his
statements in parliament have contradicted the findings of the prosecutors as reported in the media at least 118 times, public broadcaster NHK reported Tuesday, citing a parliamentary research bureau. Toward the end of 2019, Abe faced stiff questioning in parliament from opposition members over the blossom parties. Current Prime Minister Yoshihide Suga, who served as Abe’s right-hand man during his record stint as premier, has defended him over the scandal. Support for Suga slumped 17 percentage points to 39 percent in a poll published by the Asahi newspaper on Sunday, amid the investigation and renewed concerns over his handling of the coronavirus. The fallout could affect the timing of the next election, with the lower house term set to end October 21. “The mere fact of an Abe scandal being back in the news and a target of prosecutors’ scrutiny is enough to make life difficult for a prime minister who is carr ying on the work of the Abe ad m in ist rat ion,” sa id Tobi a s Harris, a Japan analyst at consultancy Teneo, and author of a biography of Abe. Bloomberg News
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ASHINGTON—Dozens of e-mail accounts at the Treasury Department were compromised in a massive breach of US government agencies being blamed on Russia, with hackers breaking into systems used by the department’s highest-ranking officials, a senator said Monday after being briefed on the matter. Sen. Ron Wyden, D-Ore., provided new details of the hack following a briefing to Senate Finance Committee staff by the IRS and Treasury Department. Wyden said that though there is no indication that taxpayer data was compromised, the hack “appears to be significant,” including through the compromise of dozens of e-mail accounts and access to the Departmental Offices division of the Treasury Department, which the senator said was home to its highest-ranking officials. In addition, the breach appears to involve the theft of encryption keys from US government servers, Wyden said. “Treasury still does not know all of the actions taken by hackers,
or precisely what information was stolen,” Wyden said in a statement. It is also not clear what Russian hackers intend to do with any e-mails they may have accessed. A Treasury Department spokeswoman declined to comment on Wyden’s statement. Treasur y was among the earliest known agencies reported to have been affected in a breach that now encompasses a broad spectrum of departments. The effects and consequences of the hack are still being assessed, t hough t he Depa r t ment of Homeland Security’s cybersecurity arm said in a statement last week that the intrusion posed a “grave” risk to government and private networks.
This June 6, 2013 file photo shows the sign outside the National Security Agency (NSA) campus in Fort Meade, Md. All fingers are pointing to Russia as author of the worst-ever hack of US government agencies. But President Donald Trump, long wary of blaming Moscow for cyber attacks, has so far been silent. AP/Patrick Semansky
In the Treasury Department’s case, Wyden said, the breach began in July. But experts believe the overall hacking operation began months earlier when malicious code was slipped into updates to popular software that monitors computer networks of businesses and governments. T he m a lw a re, a f fe c t i n g a product made by US company SolarWinds, gave elite hackers remote access into an organization’s networks so they could steal information. It wasn’t discovered until the prominent cybersecurity company FireEye determined it had been hacked. Tech giant Microsoft, which has helped respond to the breach,
revealed last week that it had identified more than 40 government agencies, think tanks, nongovernmental organizations and IT companies infiltrated by the hackers. Microsoft notified the Treasury Department that dozens of e-mail accounts were compromised, Wyden said. President Donald Trump sought to downplay the severity of the hack last week, tweeting without any evidence that perhaps China was responsible. At least two Cabinet members, Secretary of State Mike Pompeo and Attorney General William Barr, have stated publicly that they believe Russia was to blame, the consensus of others in the US government and of the cybersecurity community. AP
Fox, Newsmax shoot down their own aired claims on US election
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EW YORK—Two election technolog y companies whose names have come up in President Donald Trump’s false charges of widespread voter fraud in the presidential election are fighting back, prompting unusual public statements from Fox News and Newsmax. The statements, over the weekend and on Monday, came after the companies Smartmatic and Dominion raised the prospect of legal action for reporting what they said was false information about them. Both companies were referenced in the campaign’s suggestion that vote counts in swing states were manipulated to the advantage of President-elect Joe Biden. The companies deny several statements made about them, and there is no evidence any voting system switched or deleted votes in the 2020 election. A nearly two-minute pre-taped segment was aired over the weekend on a Fox Business Network program hosted by Lou Dobbs and Fox News Channel shows with Maria Bartiromo and Jeanine Pirro. That came days after Smartmatic sent a letter threatening legal action to Fox and two other networks popular with Trump supporters, Newsmax and One America News Network. The two-minute Fox segments
aired in the form of a questionand-answer session between an offscreen voice and Eddie Perez, a voting technology expert at the nonpartisan Open Source Election Technology Institute. “I have not seen any evidence that Smartmatic software was used to delete, change or alter anything related to vote tabulations,” Perez said. The company says its only work that involved the 2020 US election came in Los Angeles. Trump lawyer Rudolph Giuliani has falsely claimed that Smartmatic was founded in Venezuela by former dictator Hugo Chavez for the goal of fixing elections. Smartmatic was started in Florida in 2000. Its founder is Venezuelan, but the company said Chavez was never involved, and its last work in Venezuela came in 2017 when its software found the government had reported false turnout numbers. After the segment aired Sunday on Bartiromo’s show, she said, “So that is where we stand right now. We will keep investigating.” Perez also said there was no apparent business relationship between Smartmatic and Dominion; Trump’s lawyers have claimed with no evidence that Dominion’s vote counting system used at some locations in the US elections had used Smartmatic’s software. Asked Monday about the seg-
ments, Smartmatic’s lawyer, J. Erik Connolly, said the company “cannot comment on the recent broadcast by Fox News due to potential litigation.” The network did not comment beyond the on-air segments aired over the weekend. A statement aired by Newsmax anchors on Monday, and also printed on the company website, was much broader and concerned both Smartmatic and Dominion. In the statement, Newsmax said there were “several facts our viewers and readers should be aware,” among them the lack of a business relationship between the two companies or that Dominion had any ownership relationship with George Soros, House Speaker Nancy Pelosi and others. “No evidence has been offered that Dominion or Smartmatic used software or reprogrammed software that manipulated votes in the 2020 election,” Newsmax said. Company spokesman Anthony Rizzo said Newsmax itself had never made a claim of impropriety, but that others had appeared on the network to raise questions about Smartmatic. “As any major media outlet, we provide a forum for public concerns and discussion,” he said. There was no immediate response to a request for comment from OANN.
Dominion has not specifically targeted any news organization. Instead, last week its lawyers sent a letter to Sidney Powell, demanding the Trump supporter retract several of the “wild and reckless” allegations she has made about them. The company said some of its employees have been stalked, harassed and received death threats. Powell, an appellate lawyer from Texas, was part of the president’s legal team immediately after the election but was disavowed after making accusations of a scheme to manipulate voting machines. In its letter to Powell, Dominion lawyers Thomas Clare and Megan Meier said that the company had no ties “to the Chinese government, the Venezuelan government, Hugo Chavez, [British politician] Malloch Brown, George Soros, Bigfoot or the Loch Ness Monster.” Powell did not immediately return a request for comment. Clare said Dominion’s immediate focus is on Powell for what she has been saying about the company. “Moving forward, we will certainly be taking a close look at others who have participated directly in the defamatory campaign, as well as those who have recklessly provided a platform for these discredited allegations,” he said. AP
Malaysia to obtain 6.4 million doses of AstraZeneca vaccine
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alaysia has signed a deal with AstraZeneca Plc. to secure 6.4 million doses of the Covid-19 vaccine, Prime Minister Muhyiddin Yassin said. The government is also in final negotiations with China’s Sinovac, CanSino Biologics and Russia’s Gamaleya Research Institute, part of a plan to get supplies to cover more than 80 percent of the population, or 26.5 million
people, he said in a televised address on Tuesday. The country expects to spend $504.4 million on the shots, he said. “The 80 percent figure exceeds our initial target, which was to vaccinate 70 percent of Malaysians,” Muhyiddin said. Malaysia is struggling to stem a fresh wave of cases that emerged in September and threatens a nascent economic recovery. Daily
infections hit a record 2,234 on Dec. 10, with cases erupting at facilities of companies including Top Glove Corp. and Karex Bhd., the world’s biggest producer of condoms. The government last month ordered 12.8 million doses of the Pfizer Inc.-BioNTech SE vaccine and has an accord with the World Health Organization’s Covax facility. The first 1 million doses of
the Pfizer vaccine will be rolled out as early as February, Muhyiddin said, adding that he would be among the first Malaysians to get the shot to convince the people of its safety. “ T his means a 40 percent vaccine-supply guarantee has already been obtained through a joint agreement with Covax, Pfizer and AstraZeneca,” he said. Bloomberg News
A10 Wednesday, December 23, 2020 • Editor: Angel R. Calso
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editorial
Celebrating Christmas amid the pandemic
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ovid-19 may have upended life in countries where it unleashed its fury, but it failed to dampen the Christmas spirit in the Philippines, where the yuletide season is celebrated as early as September. While the country remains under quarantine, Filipinos will find a way to celebrate the season and express their love to family and friends through their gifts. Despite the quarantine restrictions aimed at stopping Covid-19 on its tracks, families will still gather around the dinner table and partake of the traditional holiday fare. Unfortunately, the pandemic continues to wreak havoc on the Philippines, based on the latest data released by the Department of Health. The Covid-19 cases added in the DOH’s daily tally have not gone done below 1,000 despite the restrictions imposed by the government. As of December 21, the Philippines has already logged 461,505 cases, of which 23,341 are active. Hospitals around the country are dealing with these Covid-19 cases, on top of the other health issues of Filipinos—cardiovascular diseases, diabetes and cancer. These Covid-19 cases have already exacted a heavy toll on public health since mid-March, when the government first implemented the lockdown to stop the spread of Covid-19. Because they are badly needed in Covid-19 wards, many of our health workers will not be able to spend the holidays with their loved ones this year. We could help our health workers cope with their increasing workload by avoiding certain practices and by taking things in moderation, such as alcohol and cholesterol-laden food, which could cause heart diseases. We should heed the advice of the DOH to avoid large gatherings and to hold virtual parties instead (See “It’s going to be a virtual Christmas, says DOH,” in the BusinessMirror, November 25, 2020). Overcrowded areas should also be avoided to minimize possible exposure to the virus. For those who want to cook their Noche Buena, meals should be carefully planned to avoid food waste, and to consider healthy options. Food that is thrown away will usually end up in landfills and produces methane, a greenhouse gas. We also urge restaurants to see to it that members of their kitchen staff are observing safe food handling practices to ensure the quality and safety of their food products. It is customary for Filipinos to celebrate the holidays with firecrackers or fireworks, but these should be avoided this year. Fireworks and firecrackers, including kwitis, luces, fountain and the prohibited piccolo, injured more than 160 Filipinos who welcomed 2020 (See, “DOH reports sharp drop in fireworks injury as PNP declares zero deaths from stray bullets,” in the BusinessMirror, January 2, 2020). Aside from these injuries, fireworks could cause respiratory diseases and pollute the air. While merrymaking during the holidays will somehow ease the anxiety brought about by the pandemic, letting our guards down will only bring more suffering and pain, particularly if our loved ones get sick. Throwing caution to the wind at this time will further burden our healthcare system, which continues to grapple with rising Covid-19 cases. We do not have to “cancel” Christmas, but the sacrifices we make this year to stay healthy would ensure us of more holiday celebrations after the pandemic is over. Stay safe this Christmas. Since 2005
Christmas: Connecting families Aurora C. Ignacio
All About Social Security
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t’s two days before Christmas and through this piece, I will discuss a personal topic that is really close to my heart like every Filipino…ang Kapaskuhan.
It has been said time and again that the Philippines has the longest Christmas celebration compared with other countries around the world. This is why most Filipinos working or residing overseas prefer to celebrate it in the country. Why so? Since the start of the “ber” months, we started preparing for the holidays. We start decorating our homes with tall and colorful Christmas trees and garlands; hang our Christmas lanterns, set-up bright lights around the house, or even play our Christmas carols in our CD players. We also have this long list where we jot down names of people whom we plan to buy gifts as a sign of gratitude for being a part of our lives. As we count
Starry, starry night
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down the days to December 25, we start planning our menu for Noche Buena, and we start to feel the holiday rush of shopping in the malls or tiangge as we see people rushing to buy things for exchange gifts on Christmas Eve. As we are still in the middle of a pandemic, online shopping may be a better option for majority of individuals, me included, since there’s no need to travel as part of basic safety measures in avoiding crowded and closed spaces, which could be a ground for contracting Covid-19. Last Friday, December 18, 2020, we had our virtual Christmas Party at SSS. Unlike the previous years when face-to-face interaction was
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stronomy fans eagerly waited for the appearance of the so-called Christmas Star or Star of Bethlehem on December 21, 2020, which coincidentally is my natal day.
On this day, Jupiter and Saturn appeared closer to each other. It is called a “great conjunction” because Jupiter and Saturn are the two largest planets in the Solar System, and to the naked eye they will look like a single bright star during this “celestial summit meeting.” One of the more popular theories for the “Christmas Star” was that it was part of a series of conjunction between Jupiter and Saturn in 7 BC wherein these planets met not once but three times that year (in May, September and December). In Christian belief, the Christmas star is found within the New Testament only in the Gospel of Matthew. The Christmas Star led the three wise men (Magi) to Jesus’ home in the town in Bethlehem where they worshiped him and gave him gifts. The wise men were then given a divine warning not to return to Herod, so they travelled back home by a different route.
For seafarers, stars also played special roles in their profession through the so-called celestial navigation. Considered as one of the oldest practices in human history, celestial navigation is the art and science of finding one’s way by the celestial bodies of the sun, moon, stars, and planets. Hundreds of years ago, early mariners traversed the open sea using only their eyes and the stars. They tracked the movement of stars across the night sky and knew the positions of constellations during every season. Their extensive knowledge of celestial bodies allowed them to cross large spans of open water with confidence. It is the use of angular measurements (sights) between celestial bodies and the visible horizon to locate one’s position in the world, on land as well as at sea. At a given time, any celestial body is located directly over one point on
the norm, this year is really an exemption. Nevertheless, we still found time in the office to celebrate it in the workplace in a new normal setting. For most employees, the holiday break is the best time to file a leave to spend quality time with our families. Like other CEOs in the government and private sector, I also look forward to Christmas as a respite from various meetings and appointments that I usually facilitate and attend daily. But unlike any ordinary employee, being the SSS President is also like a 24-hour job. Like medical doctors, CEOs are also always on call. Nothing will really compare with the joy of being in the company of your spouse and children even for just a limited period of time. Though mine are already of age and have their own families, the time spent reconnecting with my children and grandchildren are priceless moments. At home, I am not a CEO but a certified mother and loving wife and a doting grandma. I appreciate the laughter and giggles of my children whenever we have our light conversations, as well as the playful antics of my grandchildren running around the house. Looking back at the past months when strict quarantine was imple-
the earth’s surface. Knowing the position of the star in the sky, the measure of the angle between the horizon of the observer and the star, using a sextant, is enough to determine the observer’s position in latitude and longitude. For thousands of years, brave sailors and explorers relied on Polaris, or the North Star, as an excellent fixed point for navigation, especially during turbulent times and rough seas. The North Star is located almost directly above the North Pole and does not change position in the sky. In the Northern Hemisphere, mariners could determine the latitude by measuring the altitude of the North Star above the horizon. Depending on which constellations are visible in the sky, seafarers can easily find true north by locating the North Star. Balangay is one of the most ancient boats in the Philippines that used celestial navigation. It is a type of lashed-lug boat built by joining planks edge-to-edge using pins, dowels, and fiber lashings. The Filipino balangay was used largely as trading ships up until the colonial era. It was navigated by the old method used by the ancient mariners— steering by the sun, the stars, the wind, cloud formations, wave patterns and bird migrations. If my natal day December 21 this year is associated with the Christmas star, on the other hand, it was considered as the doomsday in 2012, or
mented in the country, I realized the importance of home, and time spent with my family. I began to appreciate how fortunate the generation of our youth today where technology is at their fingertips. Though we might have missed some family reunions this year, the mere presence of an Internet connection where you can browse social media is a breather. Well, if I’d be asked, what I really think about Christmas? I will say it’s family. You connect with them in this Season of Joy and Giving. Just like at the SSS. We value our SSS members and pensioners for they are our clients who have been contributing to the fund. As their family for many years, we protect them against all contingencies and give them back what they truly deserve…social security protection in the midst of sickness, maternity, disability, unemployment, retirement, death and funeral. On this note, let me greet you all, Maligayang Pasko! 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.
eight years ago, when believers expected that cataclysmic or transformative events would occur. An ancient Maya prophecy associated the doomsday to a mysterious planet on a collision course with Earth, or a reverse in Earth’s rotation. It was linked to the end of one of the cycles in the ancient Mayan calendar at the winter solstice in 2012 —hence the predicted doomsday date of December 21, 2012. It is said that a person’s destiny is written in the stars. I was born under the zodiac sign Sagittarius (November 23 and December 21), which is the ninth astrological sign associated with the constellation Sagittarius. Greek mythology associates Sagittarius with the centaur Chiron, who mentored Achilles, a Greek hero of the Trojan War, in archery. Also known as the Archer, Sagittarius is represented by the symbol of a bow and arrow. Half human and half horse, Sagittarius is the centaur of mythology, the learned healer whose higher intelligence forms a bridge between Earth and Heaven. May the guiding stars keep the voyages of our brave Filipino seafarers safe. 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
Wednesday, December 23, 2020 A11
Corruption cuts both ways What went wrong with the Covid-19 vaccine trials? in Russia’s surveillance state Faye Flam
BLOOMBERG VIEW
Leonid Bershidsky
BLOOMBERG
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he relationship between the surveillance state and corruption is one of the most fascinating aspects of today’s increasingly data-based governance. The means by which Russian opposition leader Alexei Navalny claims to have discovered the names of the eight secret police agents who allegedly tried to poison him in August show how the same tech-based methods that governments use to track citizens also enable citizens to fight back.
Theoretically, corruption should be impossible in a strong surveillance state, which can constantly watch and track every potentially greedy official and every citizen hoping to grease the wheels. There are cameras everywhere, telephone, e-mail and even online messenger records are routinely kept by operators and accessed by investigators, cash dealings have become far more difficult than in the 20th century. But, as Keith Darden from Yale University wrote back in 2002, a powerful surveillance state can also be corrupt: A robust surveillance apparatus (including the tax ministry, interior ministry, and secret police) provides leaders with the ability to monitor and record the illegal activities of their subordinates necessary to insure their compliance through the implicit or explicit threat of a sudden decision to enforce the law. In this way, systematic graft, so long as it is tracked and recorded by a surveillance apparatus, provides both an added incentive to comply with leaders’ directives and increases the potency of the sanctions that leaders can impose on their subordinates for disobedience. Accordingly, it enhances rather than undermines state capacity. That’s a good and, as of 2002, even prophetic description of the Russian state as it has emerged under President Vladimir Putin. The Russian state is both strong and corrupt, and it both hogs and leaks the data on which its strength increasingly rests. Navalny’s certainty that eight specific agents were behind the attempt to kill him with a military-grade poison while he was traveling in Siberia is based on an investigation conducted principally by Bellingcat. The independent research organization is known for, among other journalist coups, exposing the two Russian military intelligence operatives who tried to kill ex-spy Sergei Skripal in the UK in 2018. By their own account, Bellingcat journalist Christo Grozev and his team obtained non-public and closely guarded data from the passenger lists of flights that Navalny has taken in recent years and identified a group of people who consistently accompanied him or traveled to the same destinations right before or after him. They then acquired the group’s phone call metadata, including location tracking information that allowed them to triangulate exact positions. They ran the traveling companions’ names through publicly available and supposedly secret databases, ranging from the GetContact app that allows users to see how a phone contact is listed on other people’s phones to the Russian passport database. The people turned out to have links to the FSB, the Russian domestic secret police. Grozev and team found out that while repeated, increasingly severe poisoning attempts were apparently made against Navalny and his wife Yulia, the mysterious traveling companions communicated frequently with operatives linked to the Russian chemical weapons program, which Bellingcat claims didn’t end with the supposed destruction of the last of such weapons in 2017. Accessing the content of the conversations appears to have been beyond Bellingcat’s powers, but the links they did discover form a highly suggestive picture. One of the operatives even lived in the same building as Navalny
in Moscow. This being Russia, the evidence will not be tested in an independent court of law in the near future. Its publication, though, is already another in a long line of public relations disasters for the Putin regime—and it’s enough for Navalny to be convinced, privately of course, of the identities of his would-be killers. Putting myself in his shoes, I’d probably be persuaded, too. The first reaction from Navalny’s Russian opponents, albeit not government figures, was that the information used in the investigation would be impossible for a private outfit to obtain, and that it must have come from Western intelligence services. At a subsequent press conference, Putin added his official imprimatur: “This isn’t some kind of investigation, it’s the legalization of American intelligence material.” One Russian computer scientist claimed the information could only be gleaned from tools supplied by the secretive software company Palantir, a big Pentagon supplier. These protestations are why Bellingcat, and Grozev in an interview with the Russian-language news outlet Meduza, felt compelled to discuss their methods—even if this discussion, as Grozev made clear, could undermine Bellingcat’s ability to access the data in the future. According to Grozev, he used his own money to buy data from black market dealers. Bellingcat puts the information it obtains in this way in a database that allows it to link people, events and locations. There’s an art to the purchases: Multiple dealers have to be used in an investigation so that no one has a clear idea of what Grozev is looking for. Sometimes information has to be checked against other sources to make sure no one is playing a game with Bellingcat. I believe the explanations, because I know the black market exists and works as described: Nothing, not even data involving secret police agents, seems to be off limits. In a darknet store recently, I saw someone purporting to sell access to thousands of Moscow’s surveillance cameras, including the ability to operate them; I’m not sure this one is real, but tested passport databases and phone billing data are routinely offered, for hundred-tothousand-dollar price tags, via Tor and Telegram bots. Recently, a database of Moscow Covid-19 patients leaked out, showing, among other things, that official statistics have been undercounting them— and no, this was no hacker’s feat but a leak by the people responsible for the tables. I doubt there’s any government database in Russia that isn’t fully or partially on the black market. The more data the government collects, the more is offered for sale; Navalny thanked, in particular, pro-Putin legislator Irina Yarovaya for pushing through a 2016 law that requires telecom operators to store call metadata for three years, something without which the Bellingcat investigation might not have gotten as far as it did. Can foreign intelligence services access the data? Of course. That would plausibly explain the detailed information about the Russian military intelligence’s hacking activities laid out in the 2018 US indictment of officers allegedly involved in breaching the Democratic National Committee and the Hillary Clinton election campaign.
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f there’s a common theme in the errors of the US response to Covid-19, it’s been the astounding amount of squandering. Our leaders squandered time, as well as public trust and people’s economic and emotional resources. And they squandered the chance to do good science—testing drugs and vaccines in a way that serves the public interest rather than the interest of pharmaceutical companies. There’s no question that Covid-19 vaccines and therapies will save many lives. But we’re not doing the kinds of scientific studies needed to determine the best vaccines and therapies to maximize lives saved and minimize the weeks we endure unprecedented social and economic constraints. It’s not too late to change course. It’s not too late, for example, to test the possibility some have raised that the return to normal could be advanced by months if the Pfizer vaccine is given as a single shot. Though clinical trials determined safety and efficacy for two shots, supplies are running short and there’s some evidence that one shot provides some protection. The company could test the idea by picking a group of volunteers in the early rollout to get one shot, and compare them with those getting two, says Peter Bach, a physician
and director of the drug pricing lab at Memorial Sloan Kettering Cancer Center. A trial would be the only way to justify giving people a single shot. He says he also stands by a recommendation he made in September, that vaccines be tested against one another. There’s much valuable data that could be gathered quickly given that there are more than 40 vaccines in the testing stage, with many different technological approaches. Some use inactive virus, others pieces of the virus and still others viral DNA encased in various kinds of harmless viruses. Then there are the two front runners, which use messenger RNA. As researchers told me last spring, some of these vaccines might be better at preventing high risk people from getting fatal cases, while others might be better for keeping lowerrisk individuals from spreading the virus. Some will be cheaper and easier
to manufacture. Some will induce fewer side effects. Pfizer’s product requires extreme refrigeration; others don’t. One candidate might even work as an oral vaccine rather than an injection. The first vaccines across the finish line of FDA authorization might not be the best ones for achieving worldwide immunity. As STATnews reported in September, several of the “tortoises” in the race, from Merck and Sanofi, look very strong. “You don’t lose anything if you do 50,000 people with Pfizer versus J&J,” says Bach. “It’s not like you’re squandering the Pfizer vaccines.” Such tests would be in the public interest, ensuring we get the maximum amount of data in a minimum of time. The way clinical trials usually work, companies design their own trials within some constraints established by regulators like the FDA. But it doesn’t have to be that way. In this unprecedented situation, we should have a much more uniform standard for scientific testing. In fact, last June, the FDA did lay out some standard experimental guidelines for vaccine manufacturers, says Bach. “That was completely ignored.” A mandatory standard might have given us much-needed information on how well those newly approved Pfizer and Moderna vaccines protect against asymptomatic infection and thereby help us all achieve herd immunity. Testing subjects regularly for Covid-19 would have told us this,
but Pfizer and Moderna didn’t collect that data. The AstraZeneca trial did collect data on asymptomatic cases, though the trial was marred by a serious mistake with dosing. And contact tracing subjects might even help us learn if vaccinated people can transmit silent infections to others. Those are not normal procedures, but this is not a normal situation. The other looming mystery is how long vaccine-induced immunity lasts. The best way to learn about longer-term safety and efficacy is to keep the placebo-controlled trials going. But Pfizer is already talking about ending its trial by giving the people in the control arm the vaccine. The gesture may seem altruistic, but there’s a selfish side to it: It undercuts the ability to keep getting data and uncover less common safety issues. The same idea applies to drug that could treat Covid-19, which should be tested in a standardized system designed for our benefit. Last spring, the antiviral drug Remdesivir was approved, for example, with minimal data on efficacy, timing and dosing. It’s proven disappointing. The public is so worn down that we’re grateful for any ray of hope, and disinclined to question something that would end the pandemic — even though pharmaceutical companies are getting a great bargain out of this. They deserve some praise, but not as much as the public deserves the best possible public health campaign. That hasn’t been the standard in 2020, but it’s not too late to do better.
How worrisome is this UK virus variant?
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am Fazeli, a Bloomberg Opinion contributor who covers the pharmaceutical industry for Bloomberg Intelligence, answered questions about the emergence in the UK of a mutant variant of the coronavirus, which has prompted strict lockdown measures across England and led neighboring countries to put up trade and travel restrictions to protect against its spread. The conversation has been edited and condensed. How unusual is this virus mutation? SF: As far as viruses go, it’s not unusual to see mutations like this. They happen all the time, even within the same person. In fact, there have already been some 4,000 different documented mutations in the SarsCov-2 virus that causes Covid-19 as it has spread around the globe. Until now, none have been a real cause for concern. But the latest one that has been discovered in the UK is potentially worrisome, and I believe the government’s action in imposing severe lockdowns in London and southeastern England is warranted until more information is available. The UK government says it took its action on lockdowns in part because the new variant may be as much as 70 percent more transmissible than original strains. What evidence is there of that? SF: There is little hard data to prove that the new variant is transmitted more easily. The rapid rise in the number of cases in southeastern England may simply be because the
virus was at the right place at the right time, just as was the case with a variant—so-called D614G—that was subsequently shown not to have better transmission but still became the dominant version of the virus in the US and Europe. Also, one of the mutations related to this new variant has previously been shown to actually reduce transmission. So it’s just too early to know whether the spread is just luck or the result of a biological property of the virus. Without more information, though, it’s best to take these added precautions. Does this variant cause a more severe form of Covid-19? SF: Again, there are no hard data to suggest one way or another, but it’s very early days. Data on overall case counts relative to hospitalizations and mortality will in the next few weeks be able to provide preliminary clues. But definitive answers will need deeper study as there are many other confounding drivers of hospitalizations, such as the fact that infections are occurring in a colder climate, which is generally associated with weaker immune systems. Again, the mutation now dominant in the US and Europe was thought to have 50 percent higher mortality, but that has turned out not to be the case. What about vaccines? Is the immunity caused by the approved Pfizer Inc.-BioNTech SE and Moderna Inc. shots good enough to prevent disease from this variant? SF: This is the big concern, but here’s what we know. This latest
variant evolved with 17 mutations. Eight of these occurred in the part of the virus that’s targeted in the vaccines made by Pfizer-BioNTech and Moderna, as well as the shot in development by AstraZeneca Plc and the University of Oxford and many other companies. The working hypothesis of how this variant evolved is that it came from a chronically infected, immunocompromised patient who was treated with human convalescent plasma to protect against Covid-19. This gave the virus plenty of time to evolve in a way to allow it to grow despite the immune protection provided by the plasma. The problem is, that may also make it less sensitive to our current vaccines, given that the plasma therapy likely contained antibodies similar to those induced by the vaccines. Luckily, this is a relatively easy question to answer using blood from vaccinated individuals and laboratory experiments that look at how effectively this blood can kill the new variant. Also, given the high level of efficacy of the Pfizer-BioNTech and Moderna vaccines, a reduction from the 95 percent we have seen so far to even 60 percent or 70 percent would still mean a very good level of protection. Also, vaccine trials underway by AstraZeneca and Novavax Inc. include large numbers of subjects in Britain and can directly answer this question in the next few weeks. The UK rollout of Pfizer-BioNTech’s vaccine will allow a similar analysis. Still, if the variant is shown to be more resistant to vaccines, that would seem to be a problem.
What can be done about that? SF: It is critical that vaccine developers start working on this variant as soon as possible. Fortunately, new technologies from Pfizer-BioNTech, Moderna, AstraZeneca and Johnson & Johnson are quickly adaptable to mutations of the virus. AstraZeneca, in fact, has already started working on a new vaccine candidate against the variant. I also think that this may turn attention to the few companies—such as the Valneva SE and China’s Sinovac—that are developing Covid-19 vaccines using the killed virus itself. These, while potentially less effective than the modern vaccines, would cause a broader immune response. What can be learned from the UK’s experience? SF: While I understand the government’s desire to support its economy, allowing indoor dining and the reopening of gyms in the past few months while cases were still at relatively high levels was misguided given the strong evidence that suggests the high risk of transmission in such settings. The UK should have followed the same path as France, which relaxed its rules but not to such an extent, keeping restaurants and bars closed. On the other hand, the UK has been a victim of its own success in that it does more genomic sequencing of the virus than almost all other countries. The pace and quantity of sequencing is what has allowed it to rapidly detect new variants of the virus. It is imperative that other countries do the same. Bloomberg Opinion
Iran is not looking for a war with America By Eli Lake | Bloomberg Opinion
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ver since a US missile killed Iran’s most important general almost a year ago, the regime has been vowing revenge, with the latest threat coming just last week. Yet aside from a barrage of missile strikes on an Iraqi base last January, causing traumatic brain injuries for US soldiers stationed there, Iran’s response has been relatively muted. That’s because, even as the US military prepares for anything Iran or its proxies might try, the regime is not looking for an open confrontation with the world’s most powerful military. So says General Frank McKenzie, the man in charge of the US Central Command. “It’s a very complex issue,” McKen-
zie said in an interview Sunday with a small group of reporters. “At one level the Iranians are not looking for a major incident with the United States, they are not looking for a war.” At the same time, he acknowledged that there is a real desire for the regime to avenge General Qassem Soleimani’s death. That last part is understandable. Soleimani was a gifted military strategist, commanding a multi-front war and insurgency in the Middle East that at its peak included operations in Yemen, Iraq, Syria and Lebanon. His leadership abilities helped Soleimani coordinate this multi-front war and keep the disparate proxies and militias on the same page. Since Soleimani’s demise, McKenzie said, the US has seen fissures within the
Shiite militias Iran supported in Iraq, some of which are more open to taking orders from Iraq’s elected government instead of its more menacing neighbor. Soleimani’s death, McKenzie said, “unhinged Iran’s ability to direct these units forcefully.” On the one hand this makes it more likely that rogue units could launch unauthorized attacks. On the other, the frequency of attacks from Iraniansupported militias against the US and its allies has diminished. “In the last few months, they have been few and far between,” McKenzie said. All of this raises a question for President-elect Joe Biden. Most of his party denounced President Donald Trump’s decision to kill Soleimani in January as
a reckless provocation. Biden himself wrote in Foreign Affairs that Soleimani’s killing “removed a dangerous actor but also raised the prospect of an ever-escalating cycle of violence in the region.” Will Biden attempt to de-escalate that cycle with Iran—and will that work? McKenzie’s perspective is instructive. Iran’s leaders have never doubted America’s “capability to respond” to their attacks, he said. Instead, the regime has doubted “our will to respond.” The Soleimani attack demonstrated a willingness “they did not think we would be able to have,” he said. The events leading to Soleimani’s demise demonstrate the point. Iran began to escalate its attacks on US allies in the region in the spring of 2019.
A12 Wednesday, December 23, 2020
DOT hits Aklan failure to test Boracay workers By Ma. Stella F. Arnaldo
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@akosistellaBM Special to the BusinessMirror
HE provincial government of Aklan has yet to carry out free RT-PCR testing among Boracay Island’s tourism workforce, despite the funds given to it by the Department of Tourism (DOT) last November.
This came to light after an employee of a high-end resort in Boracay tested positive for Covid-19 this week. The staff had arrived from his hometown in Lezo, Aklan, and showed Covid symptoms such as a sore throat, two days later. “He is now in quarantine,” according to
Tourism Secretary Bernadette Romulo Puyat. She added, the employee’s six other companions in the staff house “tested negative for the virus using RT-PCR, but I said they should be quarantined just the same, just to be safe.” She stressed, though, that the
DOT’s marketing arm, the Tourism Promotions Board (TPB), already “downloaded” P10 million to the local government headed by Gov. Florencio Miraflores last November 19 “to test for free via RT-PCR all those working in the tourism sector.” InalettertoMirafloresonDecember
8, Romulo Puyat even asked for an update on the use of said funds, “such as number of people tested, amount of already spent, among others.” However, the free testing program was apparently never carried out, she told the BusinessMirror. Continued on a2
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Companies BusinessMirror
Wednesday, December 23, 2020
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Bloomberry secures ₧20B in loans to fund capex plan By VG Cabuag
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@villygc
LOOMBERRY Resorts Corp., the gambling arm of billionaire Enrique K. Razon Jr., on Tuesday said its unit was able to secure an additional P20 billion in syndicated loans to fund the capital expenditures (capex) for its flagship facility in Entertainment City. “Securing an additional funding option during this difficult time is a landmark achievement for our company and a resounding vote of confidence by our lenders,” the company’s chairman and CEO said in a statement. The company said its unit Bloomberry Resorts and Hotels
Inc. (BRHI) on December 21 signed, with a syndicate of banks, an amendment to the P73.5-billion omnibus loan and security agreement for an additional facility in the principal amount of P20 billion. The facility was oversubscribed. The additional facility will be available for 2 years from the sign-
ing of the amendment agreement and any amount borrowed will be payable within 5 years from the date of the first drawdown. The additional funding, if drawn, will be used to support the cash flow requirements of Solaire Resort and Casino, partially finance capex for the improvement and refurbishment of existing facilities at Solaire and partially finance BRHI’s working capital requirements and other general corporate purposes, the company said. Interest payments on the loan will be based on a floating rate, calculated on a quarterly basis. “BRHI intends to draw only the amount that it requires for the purposes it has stated to minimize additional interest expenses,” Razon said. The syndicate of banks participating in the additional facility is composed of BDO Unibank Inc., China Banking Corp., Philippine National Bank, Robinsons Bank Corp. and United Coconut Planters Bank.
All of the said banks are part of the original syndicate of banks that participated in the P73.5-billion loan facility. BDO Capital and Investment Corp. served as lead arranger and sole bookrunner while BDO-Trust and Investments Group was assigned as security trustee, facility agent and paying agent. Bloomberry incurred a net loss of P2.5 billion in the nine months of the year ending September from last year's profit of P3.9 billion as its premises remained closed to public gamblers. Gross gaming revenue (GGR) at Solaire was at P4.4 billion during the quarter, a 74-percent decrease from P17.1 billion in the same period last year. GGR was further impacted by the return to modified enhanced community quarantine from August 4 to August 19, which resulted in the closure of the mass gaming floor. Consolidated net revenue was at P3.2 billion, a 76-percent drop from last year.
Carmen Copper halts mine operations By Jonathan L. Mayuga @jonlmayuga
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ARMEN Copper Corp. (CCC), an operating mine of Atlas Consolidated Mining Development Corp. based in Toledo City in Cebu, on Tuesday said an accident occurred in its mining site, which collapsed, killing at least four people. “The incident was traceable to the incessant rains for the past several months and aggravated by Typhoon Vicky which hit parts of the Visayas, including Toledo City last Friday, December 18, 2020,” the company said in a statement. The company said it has suspended all activities in the mining operations area to ensure the safety of its employees and contractors. CCC said six more persons remain missing following the landslide that occurred at around 4:15 p.m. on Monday. “The management of CCC is doing all the necessary action to assess and address the overall situation,” it said. The continuous rain in the area that has prevented rescue attempts
due to the risk of more landslides occurring in the site on Monday resumed Tuesday, with the hope of finding the six other miners underneath rubbles of mud and rocks. Several miners were rushed to the Carmen Copper Hospital Tuesday afternoon following the landslide that happened at the Carmen Pit, CCC’s mine operations site. The company said it is in close coordination and communication with the affected immediate families and will continue to extend the needed support and assistance. “We humbly ask the general public to exercise caution and responsibility in distributing information out of respect to the affected families. We would like to extend our utmost gratitude to private groups and the Toledo City Government Emergency Response team for extending valuable assistance in our search and rescue operations,” it said. “We are also in close coordination and communication with concerned government agencies as we continue to conduct all necessary actions to assess and address the situation."
Probe
THE Mines and Geosciences Bureau (MGB) said on Tuesday it will investigate the landslide. MGB Director Wilfredo Moncano said the mine’s operation is temporarily suspended pending the result of the investigation. According to Moncano, the Toledo copper mine passed the Mining Industry Coordinating Council’s independent audit this year. According to its website, Carmen Copper has an operating agreement with Atlas Mining and it has exclusive operating rights over the in situ mineral resources and ore reserves of Carmen, Lutopan and biga mineral deposits or more commonly known as the Toledo copper mine which covers 1,674 hectares. Carmen Copper resumed the Toledo mining operation in September 2007. “Initial findings indicate that Typhoon Vicky exacerbated the already waterlogged limestone and mudstone layer from the prior typhoon that weakens its contact with the intrusive rock base. This is the
material that went down to the pit bottom. A fault line called the Barot fault was also observed in the slide area and may have contributed to the landslide,” Moncano told reporters via text message. Meanwhile, the Chamber of Mines of the Philippines (COMP) described the mining incident as “unfortunate.” “Atlas is known for its strict adherence to the highest safety and health standards. Nevertheless, accidents happen in any industry. This is why the Chamber and its members are constantly looking for ways to further improve our safety and health protocols,” COMP said. In a text message to the media, Rocky Dimaculangan said proof to this is the Chamber’s adoption of the Toward Sustainable Mining initiative. “The important thing is for the industry to learn lessons from incidents such as this to continue to improve on its protocols and practices. Undoubtedly the industry as a whole will absorb the lessons from this incident,” he said. With VG Cabuag
LRMC announces LRT-1 schedule for Dec holidays
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N observance of the holiday season, LRT-1 private operator Light Rail Manila Corp. (LRMC) will implement shortened service hours on December 24 (Christmas Eve) and December 31 (New Year’s Eve), which were both declared as special non-working days by the government under Proclamation No. 845. On Christmas Eve (December 24), the LRT-1’s operating schedule will be from 4:30 AM to 8 p.m. both bounds, and 4:30 a.m. to 7 p.m. both bounds for New Year’s Eve (December 31). LRT-1 will continue to serve passengers on 25 December 2020 (Christmas Day), 30 December 2020 (Rizal Day), and 1 January 2021 (New Year’s Day) following the regular weekends/holiday schedule. Roosevelt station will remain temporarily closed until further notice to accommodate the still ongoing construction by the government of the Common Station or the Unified Grand Central Station (UGCS), which will connect the systems of LRT-1, MRT-3, and MRT-7. The last stop of LRT-1 will remain to be Balintawak station, northbound.
LRT-1 Regular Schedule (without Roosevelt Station)
Rest assured that LRMC is working closely with the government to accelerate the reopening of Roosevelt Station. The public is also advised to be guided accordingly on passenger advisories, any change in schedule, and to plan trips ahead during this period. For more updates on the LRT-1,
DECEMBER 24 & 31 LRT-1 Service Hours
follow LRMC on Facebook at facebook.com/officialLRT1, Twitter at @ officialLRT1, or download the ikotMNL mobile app for free on Google Play and App Store. LRMC is a joint venture company of Metro Pacific Invstments Corp. and Sumitomo Corp.’s Metro Pacific Light Rail Corp., Ayala Corp.’s Infrastructure Holdings Corp., and
the Philippine Investment Alliance for Infrastructure’s Macquarie Infrastructure Holdings (Philippines) PTE Ltd. It assumed operations and maintence of LRT-1 in September 2015 through a P65-billion 32-year concession agreement with the Department of Transportation and the Light Rail Transit Authority.
Telco tower permits obtained by PLDT, Smart hit 6,500—exec
BUSINESSMIRROR FILE PHOTO
By Lorenz S. Marasigan @lorenzmarasigan
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LDT Inc. and wireless subsidiary Smart Communications Inc. said on Tuesday that it secured a “record number of permits” in the second half of the year. Alfredo S. Panlilio, Smart president and PLDT chief revenue officer, said since July, the two companies secured roughly 6,500 permits to build cell sites across the country. Broken down, Smart secured 2,500 permits, while PLDT, 4,000 permits. “Despite the challenges of Covid-19 and the lockdowns, we managed to ramp up our network rollout, with the help of government. We are really thankful for the government’s help in making it easier for us to build our network,” he said. As of November, Smart has increased the number of its base stations to over 58,000, a 20-percent hike from 2019. It has also deployed 5G sites in a number of cities. To date, Smart has over 10,000 sites across the country, including more than 700 new cell sites fired up by the end of 2020. Panlilio said this will help Smart increase its “4G population coverage, cover more municipalities and provide more capacity for dense areas.” Smart is rolling out an addition-
al 2,000 cell sites in 2021. Earlier PLDT said it plans to spend as much as P92 billion in capital outlays in 2021 to meet the “surge in demand for data” and heed the government’s call to “elevate” the local telecommunications industry and deliver services that meet global standards. Panlilio said PLDT is increasing its capital expenditures (capex) by as much as 25 percent in 2021 to expand both its fixed and wireless networks. “With the surge in demand for data, we are prepared to invest between P88 billion and P92 billion next year to meet the requirements of all our mobile and fixed line customers. Providing good customer experience remains to be our ‘North Star,’ as we aim to elevate PLDT and Smart to the level of global operators,” he said. PLDT has programmed roughly P70 billion in capex this year, but Panlilio noted that his group may “end this year with approximately the same level of capex spend” in 2019, when it spent P73 billion to modernize its networks. In the last five years, PLDT has invested P260 billion in its networks, with its wireless network now reaching 96 percent of the population and covering 95 percent of the country’s cities and municipalities, while its fiber infrastructure now running at 422,000 kilometers.
AllHome expands product offering via specialty store
A
LLHOME Corp. on Tuesday said it expanded its product offering by launching a small specialty store format that sells gadgets and other technology products. The company said it opened its All Digital store in Evia Lifestyle Center in Las Piñas, to become its 50th branch. All Digital is a tech emporium that offers a variety of gadgets such as laptops, cellphones, cameras, drones, e-scooters and even collectible toys. “All Digital has curated the latest and innovative tech brands in the country in one store. This is the one-stop shop for all your technology needs for your home and home office. It puts great value in offering only the best original merchandise,” All Home vice chairman Camille A. Villar said. The store allows gamers to try the newest games with its gaming nook, complete with a high-specs gaming desktop and a top-of-theline gaming chair; e-scooters are on display and can be tested in-store; and drones have a dedicated fly zone where customers can fly them. For the toy collectors, life-size models are on display to complement its offering of collectibles.
The company said it hopes to capture markets, such as technology enthusiasts, gamers, photographers, music lovers and toy collectors in the upscale market. “As the pandemic pushes us to adopt technology faster, AllHome enters the tech world, further expanding its offering for the appliances category and targeting a brand new market. This involves creating a tech hub that houses nothing but the best-selling premium products today. It’s a place where gadget enthusiasts can come together and even learn from one another. All Digital is the core for both play and innovation. It is also a testament to All Home’s innovative mindset and its capability to quickly adapt to changing customer needs,” Manuel B. Villar, the company's chairman, said. AllHome now has 39 stores in Mega Manila, 6 in Luzon outside Metro Manila and five in the Visayas and Mindanao. All Digital is an addition to AllHome’s small specialty store format, bringing the store count by format to 15 small specialty, 13 large free-standing and 22 large mall-based. The recent launchings of Cabanatuan and Sta. Maria stores increased the store count for large free-standing format. VG Cabuag
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Companies BusinessMirror
Wednesday, December 23, 2020
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December 22, 2020
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ASIA UNITED BDO UNIBANK BANK PH ISLANDS CHINABANK CITYSTATE BANK EAST WEST BANK METROBANK PB BANK PBCOM PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FIRST ABACUS FERRONOUX HLDG FILIPINO FUND IREMIT MEDCO HLDG NTL REINSURANCE PHIL STOCK EXCH SUN LIFE
45 46 45.05 45.05 45 45 107.9 108 109 109.4 105.1 107.9 81.3 81.35 82.2 82.2 81.15 81.35 25.1 25.3 25.1 25.4 25.1 25.1 6.47 8.45 8.48 8.48 8.48 8.48 11.04 11.08 11.28 11.3 11 11.04 50.35 51 49.6 51 48.8 51 12 12.2 12.3 12.3 12.3 12.3 21.05 21.3 21.05 21.05 21.05 21.05 30.5 30.7 31 31.1 30.55 30.7 53.5 54 54.3 54.3 53.4 53.5 19.1 19.16 19.32 19.32 18.7 19.16 132.5 133.5 134.6 136 131.8 132.5 68.85 69 71.25 71.9 68.5 69 0.93 0.97 1 1.05 0.9 0.97 30.5 31 31 31 30.5 31 0.63 0.67 0.63 0.63 0.63 0.63 4.11 4.17 4.42 4.42 4.03 4.11 7.05 7.41 7.05 7.05 7.05 7.05 1.79 1.81 1.95 1.99 1.76 1.81 0.38 0.39 0.375 0.395 0.375 0.395 0.69 0.71 0.74 0.74 0.67 0.71 154.6 154.7 154.8 154.9 153.8 154.7 1,965 2,000 2,000 2,000 2,000 2,000
12,000 540,285 -22,505 5,093,980 543,094,733 -164,757,805 2,260,030 183,846,653 12,663,430 387,800 9,761,015 1,374,195 200 1,696 1,413,100 15,668,992 -5,298,416 9,670,560 484,907,846 94,986,253 100 1,230 400 8,420 808,400 24,918,925 -6,610,355 1,280 68,914 151,200 2,889,988 -328,456 1,666,680 221,754,288 -46,304,858 45,610 3,185,803.50 90,543 333,000 314,980 54,900 1,677,950 7,000 4,410 776,000 3,237,410 115,080.00 500 3,525 1,835,000 3,344,230 116,260 1,700,000 642,200 112,500 701,000 481,060 39,030 6,036,422 -5,467,608 10 20,000 -
INDUSTRIAL AC ENERGY 7.33 7.34 7.22 7.6 6.86 7.34 52,739,400 382,421,066 670,763 1.36 1.37 1.38 1.38 1.34 1.37 2,773,000 3,767,060 27,200 ALSONS CONS ABOITIZ POWER 26.2 26.25 27 27 26.05 26.2 3,247,200 85,242,150 -35,284,185 29 29.05 29.1 29.4 28.3 29.05 926,000 26,664,640 13,711,475 FIRST GEN FIRST PHIL HLDG 75.5 76.15 78 78 74 75.5 267,520 20,259,480.50 -14,805,453.50 282 282.2 283 284.2 282 282 240,260 67,924,478 -13,228,624 MERALCO 15.64 15.66 15.86 15.98 15.28 15.64 1,587,100 24,822,508 3,530,168 MANILA WATER PETRON 4.09 4.1 4.08 4.17 4.06 4.1 9,633,000 39,631,570 -1,908,880.00 3.38 3.63 3.45 3.68 3.3 3.38 227,000 772,100 10,140 PETROENERGY PHX PETROLEUM 12.02 12.5 12.5 12.68 12.02 12.5 1,168,900 14,586,846 -9,682 20.6 20.8 21.3 21.3 20.05 20.8 1,187,700 24,636,010 1,540,610 PILIPINAS SHELL 10.14 10.16 10.34 10.48 10.1 10.16 510,500 5,183,362 230,214 SPC POWER AGRINURTURE 7.83 8 8.3 8.3 7.72 8 1,518,400 12,204,480 1,086,257 3.35 3.42 3.55 3.55 3.27 3.42 5,500,000 18,484,040 200,950 AXELUM CNTRL AZUCARERA 14.64 15 14.64 15.48 14.64 14.64 9,000 132,654 17.52 17.56 17.56 17.6 17.5 17.52 1,021,700 17,902,462 -2,039,318 CENTURY FOOD 7.55 7.75 8 8.01 7.5 7.75 364,100 2,791,005 12,535 DEL MONTE DNL INDUS 7.2 7.35 7.35 7.35 7.1 7.35 4,465,200 32,233,337 27,599,594 9.9 10 9.99 10 9.83 10 10,033,400 99,806,866 2,219,818 EMPERADOR SMC FOODANDBEV 69.05 69.15 71.5 71.5 68 69.15 221,640 15,310,298 -593,678.50 0.67 0.68 0.71 0.71 0.66 0.68 1,635,000 1,103,270 ALLIANCE SELECT FRUITAS HLDG 1.71 1.72 1.78 1.78 1.68 1.72 34,011,000 58,242,730 -1,941,000 GINEBRA 52.1 52.5 54 54 50 52 44,900 2,309,688.50 609,585 197 197.3 201 201.4 193.3 197 1,023,200 201,139,213 -86,442,294 JOLLIBEE LIBERTY FLOUR 40.2 41.7 42.3 42.3 40 40.2 24,100 987,160 8.33 8.67 8.31 8.67 8.31 8.67 8,200 68,572 MACAY HLDG MAXS GROUP 7.22 7.26 7.5 7.55 7.1 7.26 1,521,700 11,086,004 1,266,684 MG HLDG 0.265 0.27 0.255 0.285 0.255 0.265 61,100,000 16,610,000 -3,715,300 7.75 7.78 8.1 8.14 7.7 7.75 1,004,800 7,811,737 3,818,190 SHAKEYS PIZZA ROXAS AND CO 1.36 1.39 1.45 1.45 1.35 1.36 12,351,000 17,163,980 405,680 4.6 4.74 4.6 4.6 4.53 4.55 6,000 27,410 RFM CORP ROXAS HLDG 1.63 1.66 1.7 1.7 1.54 1.63 521,000 828,440 0.123 0.129 0.125 0.13 0.123 0.123 5,200,000 663,500 -54,600 SWIFT FOODS 152.1 152.9 155.1 155.2 151.1 152.9 1,001,210 152,337,151 -121,857,847 UNIV ROBINA VITARICH 0.93 0.94 1 1.03 0.93 0.93 19,666,000 18,873,120 -1,259,290 2.47 2.5 2.5 2.5 2.47 2.47 12,000 29,840 VICTORIAS CONCRETE A 52.2 54.9 52.25 52.4 52.1 52.1 1,570 81,989.50 54.75 57 57 57 54.7 54.7 480 26,302 CONCRETE B 1.56 1.57 1.64 1.64 1.53 1.56 26,431,000 41,440,180 684,320.00 CEMEX HLDG DAVINCI CAPITAL 6.03 6.04 6 6.64 5.8 6.03 2,069,600 12,818,020 -532,668 14.8 15 14.72 15 14.22 15 138,500 2,024,336 189,564 EAGLE CEMENT EEI CORP 7.69 7.7 7.8 7.8 7.51 7.7 391,300 2,989,986 -20,124 7.65 7.66 7.39 7.67 7.3 7.65 7,194,400 53,504,300 16,269,506 HOLCIM 8.19 8.2 8.5 8.5 8.14 8.19 6,516,300 53,659,494 -1,065,658.00 MEGAWIDE PHINMA 9.17 9.88 9.85 9.9 9.14 9.89 69,600 686,527 0.96 0.99 1.02 1.05 0.96 0.99 744,000 722,230 TKC METALS VULCAN INDL 1.27 1.28 1.32 1.32 1.26 1.27 2,205,000 2,817,310 -63,700 125.6 144.9 125.4 149.9 125.4 144.9 940 123,137 5,016 CHEMPHIL 1.86 1.9 1.94 1.94 1.85 1.88 176,000 329,060 9,400 CROWN ASIA EUROMED 2.6 2.65 2.58 2.6 2.29 2.6 1,999,000 4,990,310 15,720 4.55 4.89 4.56 4.56 4.56 4.56 2,000 9,120 LMG CORP MABUHAY VINYL 4.6 4.7 4.69 4.7 4.69 4.7 8,000 37,540 -28,140 5.19 5.27 5.45 5.45 5.19 5.19 68,900 362,268 105,400.00 PRYCE CORP 23.2 23.3 23.45 23.5 23 23.3 43,800 1,023,185 23,400 CONCEPCION GREENERGY 2.56 2.57 2.6 2.6 2.47 2.57 11,486,000 29,211,800 -759,070 8.18 8.19 8.35 8.35 8 8.19 1,028,500 8,376,312 437,686 INTEGRATED MICR IONICS 1.24 1.25 1.35 1.35 1.2 1.25 2,755,000 3,459,280 158,290 5.22 5.43 5.22 5.22 5.22 5.22 600 3,132 PANASONIC 1.58 1.59 1.66 1.67 1.58 1.59 5,045,000 8,112,420 493,560.00 SFA SEMICON CIRTEK HLDG 6.7 6.71 7.2 7.2 6.62 6.7 19,304,700 131,078,656 2,248,276 HOLDING & FRIMS ABACORE CAPITAL 0.69 0.7 0.73 0.74 0.68 0.69 35,986,000 25,038,370 709,130 10.5 10.66 9.25 10.98 9.01 10.5 879,600 8,826,139 -56,475.00 ASIABEST GROUP AYALA CORP 833 838 825 838 821 838 129,450 107,578,550 -7,316,260 45.65 46.75 46.5 46.75 45.55 46.75 712,400 32,997,770 -5,903,380 ABOITIZ EQUITY ALLIANCE GLOBAL 10.74 10.82 10.82 10.82 10.2 10.82 7,750,100 81,510,774 15,583,282 3.43 3.44 3.5 3.6 3.38 3.44 6,721,000 23,145,790 6,911,100 AYALA LAND LOG 6.55 6.78 6.52 6.56 6.52 6.55 30,600 200,553 85,819 ANSCOR ANGLO PHIL HLDG 0.77 0.79 0.81 0.83 0.75 0.79 4,029,000 3,182,250 0.9 0.91 0.93 0.94 0.88 0.9 11,243,000 10,289,170 ATN HLDG A ATN HLDG B 0.91 0.92 0.92 0.93 0.9 0.92 492,000 447,370 5.7 5.72 5.78 5.79 5.64 5.7 2,152,800 12,249,578 -3,520,484 COSCO CAPITAL 5.71 5.72 5.8 5.8 5.5 5.71 13,357,000 74,750,641 4,338,869 DMCI HLDG FILINVEST DEV 9.62 9.75 9.9 10 9.61 9.75 9,900 97,215 3.31 3.41 3.31 3.31 3.31 3.31 31,000 102,610 FJ PRINCE A FORUM PACIFIC 0.215 0.224 0.216 0.216 0.216 0.216 510,000 110,160 -41,040 593.5 594 609 609.5 580.5 594 666,660 393,391,460 -206,438,280 GT CAPITAL 4.14 4.17 4.19 4.2 4.17 4.17 53,000 222,020 HOUSE OF INV JG SUMMIT 71.25 72 73.05 73.05 70.2 72 729,010 52,170,055.50 1,452,777.50 4.93 5.19 5.2 5.2 5.2 5.2 36,000 187,200 JOLLIVILLE HLDG LODESTAR 0.79 0.82 0.92 0.92 0.79 0.82 6,726,000 5,724,800 171,000 3.72 3.73 3.72 3.73 3.72 3.72 880,000 3,274,120 -1,000,510 LOPEZ HLDG LT GROUP 13.16 13.18 13.4 13.4 12.76 13.18 3,616,900 47,382,360 -19,022,638 MABUHAY HLDG 0.52 0.53 0.54 0.55 0.52 0.53 463,000 244,320 4.17 4.18 4.31 4.31 4.15 4.17 49,167,000 205,520,310 -84,310,850.00 METRO PAC INV PACIFICA HLDG 3.62 3.75 3.7 3.8 3.6 3.61 351,000 1,295,840 254,000 0.9 0.93 0.93 0.94 0.89 0.9 369,000 332,090 PRIME MEDIA REPUBLIC GLASS 2.9 2.95 2.98 2.98 2.9 2.9 8,000 23,640 1.13 1.19 1.2 1.2 1.11 1.2 777,000 899,740 27,120.00 SOLID GROUP 235 240 240 245 230 240 1,490 352,508 SYNERGY GRID SM INVESTMENTS 1,065 1,075 1,065 1,075 1,046 1,075 119,735 127,701,145 -18,744,825 129.1 130.1 133.5 133.5 127 130.1 415,680 53,542,883 -2,411,991.00 SAN MIGUEL CORP SOC RESOURCES 0.76 0.78 0.84 0.84 0.78 0.78 152,000 119,620 1.9 2.11 1.87 1.87 1.81 1.81 206,000 374,640 1,860 SEAFRONT RES 143 144 145 145.3 143 144 135,270 19,571,362 55,269 TOP FRONTIER WELLEX INDUS 0.222 0.234 0.225 0.225 0.222 0.222 1,410,000 314,500 0.184 0.185 0.19 0.19 0.179 0.184 2,460,000 449,620 30,870 ZEUS HLDG PROPERTY ARTHALAND CORP 0.66 0.67 0.71 0.71 0.65 0.66 6,197,000 4,151,770 158,090 8.2 8.76 8.21 8.21 8.2 8.2 6,200 50,880 5,740.00 ANCHOR LAND AYALA LAND 41.55 41.7 41.25 41.7 40.45 41.7 6,216,500 255,874,955 24,609,575 1.25 1.3 1.28 1.3 1.25 1.3 96,000 123,820 ARANETA PROP AREIT RT 29.25 29.3 29.4 29.45 28.8 29.3 2,943,300 85,981,665 -30,657,040 1.68 1.72 1.73 1.73 1.68 1.68 630,000 1,072,170 -16,870 BELLE CORP 0.93 0.94 0.98 0.98 0.91 0.93 14,416,000 13,471,210 2,302,760 A BROWN CITYLAND DEVT 0.8 0.82 0.8 0.8 0.78 0.79 327,000 258,950 0.152 0.155 0.165 0.168 0.152 0.152 19,910,000 3,174,620 112,700 CROWN EQUITIES CEBU HLDG 5.7 5.85 6 6 5.5 5.7 117,100 665,576 -78,756 CEB LANDMASTERS 4.86 4.97 4.9 4.97 4.85 4.97 1,841,000 9,013,160 -820,370 0.475 0.48 0.475 0.49 0.46 0.48 47,640,000 22,756,000 -229,600 CENTURY PROP CYBER BAY 0.37 0.375 0.39 0.39 0.37 0.38 3,880,000 1,458,200 15.74 15.76 16.52 16.52 15.44 15.76 7,595,600 119,805,212 -12,564,636 DOUBLEDRAGON DM WENCESLAO 7.42 7.43 7.68 7.7 7.25 7.42 814,100 6,067,744 109,288 0.325 0.33 0.35 0.35 0.32 0.325 4,850,000 1,606,200 29,950 EMPIRE EAST 0.087 0.088 0.092 0.096 0.087 0.088 7,640,000 689,750 -238,000 EVER GOTESCO FILINVEST LAND 1.15 1.16 1.17 1.17 1.13 1.16 35,456,000 40,669,400 15,896,190 0.93 0.94 0.98 0.98 0.92 0.94 3,132,000 2,966,870 GLOBAL ESTATE 8990 HLDG 8.11 8.16 8.4 8.4 8.01 8.11 86,500 705,190 -50,947 1.47 1.48 1.57 1.57 1.42 1.48 9,675,000 14,459,390 107,640 PHIL INFRADEV KEPPEL PROP 3.36 3.52 3.6 3.6 3.4 3.4 184,000 639,400 0.74 0.75 0.75 0.78 0.75 0.75 92,000 69,200 CITY AND LAND 3.96 4.04 3.96 4.04 3.85 4.04 27,725,000 109,479,520 -38,004,310 MEGAWORLD MRC ALLIED 0.59 0.6 0.65 0.65 0.59 0.6 171,249,000 104,863,270 -1,778,130 0.385 0.41 0.41 0.41 0.41 0.41 30,000 12,300 PHIL ESTATES PRIMEX CORP 1.49 1.51 1.57 1.59 1.46 1.51 1,356,000 2,038,410 20.85 20.95 21 21 20.2 20.95 5,749,200 118,729,975 -27,218,805 ROBINSONS LAND 0.31 0.33 0.32 0.33 0.31 0.33 560,000 179,400 PHIL REALTY ROCKWELL 1.57 1.59 1.62 1.62 1.57 1.57 754,000 1,193,960 15,700 2.66 2.7 2.74 2.74 2.66 2.66 79,000 211,550 24,040 SHANG PROP STA LUCIA LAND 2 2.03 2.02 2.09 1.99 2.03 565,000 1,137,910 26,040.00 SM PRIME HLDG 38.05 38.9 38.2 38.9 37.3 38.9 12,219,400 468,229,795 -94,545,080 4.47 4.5 4.68 4.68 4.46 4.47 163,000 737,110 VISTAMALLS SUNTRUST HOME 1.69 1.7 1.78 1.78 1.65 1.69 7,028,000 11,994,690 396,120 4.7 4.72 4.95 4.95 4.61 4.7 18,722,000 87,460,420 -1,270,830 VISTA LAND SERVICES ABS CBN 12.06 12.08 12.2 12.24 12 12.08 364,100 4,404,044 5.97 5.98 6.07 6.07 5.95 5.98 1,407,700 8,468,681 GMA NETWORK MANILA BULLETIN 0.45 0.465 0.48 0.48 0.45 0.45 580,000 265,950 10.34 12.28 11.74 11.74 11.74 11.74 900 10,566 MLA BRDCASTING GLOBE TELECOM 2,034 2,040 2,060 2,060 2,022 2,034 39,865 81,178,910 32,521,280 1,333 1,346 1,354 1,355 1,333 1,333 117,855 158,689,360 42,702,550 PLDT 0.097 0.098 0.099 0.102 0.092 0.097 955,930,000 92,579,340 703,570 APOLLO GLOBAL CONVERGE 15.2 15.3 15.68 15.68 15.04 15.3 14,258,400 216,632,030 -31,325,890 5.07 5.08 5.51 5.52 5.06 5.08 544,000 2,850,487 16,579 DFNN INC DITO CME HLDG 8.29 8.3 8.41 8.94 8.01 8.3 122,927,400 1,045,590,580 17,908,336 1.63 1.76 1.71 1.77 1.63 1.63 66,000 109,440 6,580 IMPERIAL 0.123 0.128 0.13 0.133 0.121 0.128 4,980,000 630,600 ISLAND INFO JACKSTONES 2.05 2.18 2.31 2.31 2.03 2.05 423,000 872,110 4.76 4.79 5.15 5.23 4.75 4.76 22,774,400 113,175,702 1,439,700 NOW CORP TRANSPACIFIC BR 0.36 0.365 0.375 0.375 0.355 0.36 39,570,000 14,414,750 102,800 3.03 3.04 3.16 3.16 3.01 3.03 3,303,000 10,024,950 78,770 PHILWEB 8.65 8.68 9.05 9.05 8.64 8.65 126,200 1,110,916 -10,582 2GO GROUP ASIAN TERMINALS 15.38 15.58 15.5 15.5 15.5 15.5 6,200 96,100 5.05 5.06 5.37 5.37 5.01 5.05 9,171,600 47,260,024 1,307,977 CHELSEA CEBU AIR 51.75 51.85 54.4 54.4 50.35 51.75 1,903,320 98,953,618 -7,825,395 121.9 122 124.9 124.9 121.2 122 911,650 111,423,403 -23,532,585 INTL CONTAINER LBC EXPRESS 15.9 15.98 15.9 16 15.88 15.98 6,700 106,952 0.96 0.98 0.98 0.98 0.96 0.96 202,000 196,250 LORENZO SHIPPNG 6.9 6.92 7.3 7.3 6.6 6.92 14,420,200 100,666,191 -202,374 MACROASIA METROALLIANCE A 2 2.01 2.07 2.07 2 2.01 1,361,000 2,754,630 2.05 2.15 2.05 2.05 2.05 2.05 2,000 4,100 METROALLIANCE B PAL HLDG 6.9 6.98 7.18 7.2 6.9 6.9 121,300 854,095 1.54 1.55 1.66 1.66 1.5 1.54 10,115,000 15,792,010 213,280 HARBOR STAR 1.43 1.49 1.53 1.53 1.41 1.49 41,000 59,070 ACESITE HOTEL BOULEVARD HLDG 0.04 0.041 0.043 0.043 0.04 0.04 206,200,000 8,537,900 134,200 2.24 2.29 2.3 2.3 2.24 2.24 124,000 284,520 DISCOVERY WORLD GRAND PLAZA 10.62 11.08 10.5 10.5 10.5 10.5 300 3,150 0.61 0.62 0.64 0.65 0.6 0.62 25,932,000 15,933,670 178,290 WATERFRONT 576 650 640 640 640 640 130 83,200 FAR EASTERN U STI HLDG 0.47 0.475 0.475 0.475 0.465 0.475 11,310,000 5,274,600 -9,300 5.1 5.15 5.3 5.3 4.81 5.1 855,800 4,334,111 BERJAYA BLOOMBERRY 8.2 8.24 8.58 8.58 8.14 8.2 4,616,400 38,197,894 -8,386,938 PACIFIC ONLINE 2.2 2.29 2.34 2.34 2.2 2.29 129,000 294,460 2 2.01 2.04 2.1 1.95 2 1,635,000 3,240,460 226,540.00 LEISURE AND RES MANILA JOCKEY 2.4 2.44 2.4 2.4 2.4 2.4 12,000 28,800 2.97 2.98 3.1 3.1 2.93 2.97 16,256,000 48,602,960 -786,050.00 PH RESORTS GRP PREMIUM LEISURE 0.455 0.46 0.485 0.49 0.45 0.455 37,360,000 17,220,100 423,650 6.71 6.9 6.9 6.9 6.9 6.9 1,300 8,970 PHIL RACING 8.62 8.68 8.76 8.77 8.51 8.62 1,672,900 14,363,643 5,520,801.00 ALLHOME METRO RETAIL 1.59 1.6 1.67 1.68 1.56 1.59 8,835,000 14,055,000 624,090 40.4 40.5 40.9 41.25 40.3 40.5 2,829,100 114,584,555 -83,833,355 PUREGOLD ROBINSONS RTL 65.95 66 66.7 66.8 65.95 66 415,150 27,460,315.50 1,922,132 121 122 120.1 122.5 116 121 44,980 5,434,789 1,880,237 PHIL SEVEN CORP 1.55 1.56 1.65 1.65 1.51 1.55 17,140,000 26,862,480 -774,500 SSI GROUP WILCON DEPOT 17.68 17.78 17.9 17.9 17.32 17.78 400,100 7,061,440 2,502,754.00 0.45 0.455 0.475 0.475 0.45 0.45 3,250,000 1,478,250 APC GROUP EASYCALL 7.56 7.69 8.5 8.5 7.5 7.56 411,900 3,163,262 440 453 440.2 453 440 453 1,390 628,524 GOLDEN BRIA 4.62 5.5 5.51 5.51 5.51 5.51 500 2,755 IPM HLDG PAXYS 2.35 2.47 2.35 2.35 2.35 2.35 4,000 9,400 1.02 1.03 1.04 1.08 0.99 1.02 95,257,000 97,830,430 -839,950 PRMIERE HORIZON SBS PHIL CORP 6.15 6.31 6.49 6.49 6.02 6.12 79,700 493,692 MINING & OIL ATOK 8.22 8.49 8.64 8.69 8 8.49 408,800 3,416,900 APEX MINING 1.72 1.73 1.79 1.79 1.7 1.72 15,025,000 25,855,320 -394,140 0.0028 0.0029 0.0029 0.003 0.0027 0.0029 18,790,000,000 53,709,000 363,800 ABRA MINING ATLAS MINING 6.6 6.65 6.69 6.7 6.58 6.6 1,444,600 9,573,497 -674,518 3.04 3.13 3.13 3.13 3.04 3.13 130,000 397,700 BENGUET A 0.275 0.295 0.3 0.3 0.27 0.275 4,170,000 1,167,200 COAL ASIA HLDG CENTURY PEAK 2.49 2.5 2.52 2.52 2.47 2.5 217,000 539,210 403,110 8.1 8.29 8.27 8.3 8 8.29 26,800 218,131 DIZON MINES FERRONICKEL 2.49 2.5 2.59 2.59 2.41 2.5 14,359,000 35,644,210 6,415,910 0.28 0.29 0.295 0.295 0.28 0.29 820,000 233,300 -14,500 GEOGRACE 0.162 0.164 0.168 0.169 0.156 0.164 98,470,000 15,746,530 LEPANTO A LEPANTO B 0.164 0.167 0.168 0.168 0.16 0.164 2,630,000 434,330 -148,500 0.01 0.011 0.011 0.011 0.01 0.011 177,500,000 1,805,400 MANILA MINING A MANILA MINING B 0.01 0.011 0.012 0.012 0.01 0.01 34,200,000 387,700 1.4 1.42 1.49 1.49 1.35 1.42 5,944,000 8,247,980 826,960 MARCVENTURES 2.89 2.96 3.09 3.09 2.89 2.97 1,199,000 3,560,880 1,930 NIHAO NICKEL ASIA 5.2 5.21 5.22 5.24 5.07 5.2 13,921,400 71,916,739 40,032,910 0.38 0.39 0.39 0.39 0.38 0.38 560,000 215,150 OMICO CORP ORNTL PENINSULA 0.73 0.76 0.77 0.8 0.7 0.76 3,490,000 2,574,160 5.14 5.19 5.41 5.45 5.06 5.19 4,932,300 25,664,076 469,024.00 PX MINING SEMIRARA MINING 13.78 13.8 14.4 14.4 13.52 13.78 5,306,400 73,062,686 21,502,854 UNITED PARAGON 0.0062 0.0065 0.0062 0.0062 0.006 0.0061 24,000,000 147,000 11.5 11.64 12.24 12.24 10.6 11.5 843,400 9,612,564 681,000 ACE ENEXOR ORNTL PETROL A 0.012 0.013 0.014 0.014 0.012 0.013 234,800,000 3,072,700 0.012 0.013 0.014 0.014 0.012 0.013 531,600,000 6,410,900 ORNTL PETROL B PHILODRILL 0.011 0.012 0.011 0.011 0.011 0.011 94,100,000 1,035,100 11.56 11.58 11.92 12 11.4 11.56 2,010,000 23,341,420 1,398,770 PXP ENERGY PREFFERED AC PREF B1 515 517 515 515 515 515 2,480 1,277,200 101.1 103 101.1 101.1 101.1 101.1 75,200 7,602,720 ALCO PREF B AC PREF B2R 511 512.5 511 512 510.5 510.5 1,210 618,655 102 103 102 102 102 102 700 71,400 CPG PREF A DD PREF 101.2 102.5 101.2 101.2 101.2 101.2 1,930 195,316 108 110 112.5 112.5 107.5 108 11,160 1,205,650 -9,000 FGEN PREF G 507 510 508 508 508 508 170 86,360 -86,360 GLO PREF P GTCAP PREF A 1,018 1,049 1,050 1,050 1,049 1,049 15 15,745 1,029 1,035 1,038 1,039 1,029 1,029 5,135 5,284,715 GTCAP PREF B MWIDE PREF 100.4 101.5 101.5 101.7 101.5 101.7 20,000 2,032,020 100 100.9 100 100.9 100 100.9 530 53,027 MWIDE PREF 2A 102.1 103.6 103.6 103.6 103.6 103.6 1,250 129,500 PNX PREF 3B PNX PREF 4 1,001 1,005 1,005 1,005 1,000 1,005 1,765 1,773,025 1,007 1,029 1,029 1,029 1,029 1,029 20 20,580 PCOR PREF 2B PCOR PREF 3A 1,060 1,073 1,065 1,074 1,060 1,060 5,775 6,177,390 1,080 1,100 1,080 1,100 1,080 1,100 1,020 1,101,800 PCOR PREF 3B 1.6 1.7 1.6 1.6 1.6 1.6 20,000 32,000 SFI PREF SMC PREF 2C 77.9 78 78 78.75 78 78 30,560 2,384,505 78,000 75.2 77 77 77 75.2 75.2 33,370 2,512,864 SMC PREF 2E SMC PREF 2F 77.1 77.6 77.15 77.6 77 77.6 33,310 2,568,661 -77,150 75.6 77 75.6 75.7 75.6 75.6 17,110 1,293,618 SMC PREF 2H SMC PREF 2I 76.8 78.5 78.75 79 78.75 78.85 37,990 3,000,022 76 76.1 76 76 76 76 8,100 615,600 SMC PREF 2J 75.05 75.6 75.5 75.6 75.05 75.05 4,780 359,357 SMC PREF 2K PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 11.8 12 12 12 11.72 12 17,400 208,248 5.74 5.85 5.85 5.85 5.72 5.74 196,300 1,128,176 -394,074 GMA HLDG PDR WARRANTS LR WARRANT 1.07 1.12 1.2 1.2 1.06 1.12 302,000 336,880 SMALL & MEDIUM ENTERPRISES ALTUS PROP 13.26 13.3 13.36 13.44 13.04 13.3 329,000 4,345,574 -9,454 3.09 3.1 3.25 3.25 3 3.1 5,440,000 17,001,820 -70,050 ITALPINAS KEPWEALTH 6.9 6.96 7.26 7.26 6.7 6.96 231,600 1,590,376 5.93 5.94 6.25 6.49 5.9 5.93 70,907,100 438,544,647 -3,107,451 MERRYMART EXHANGE TRADE FUNDS FIRST METRO ETF 108 108.4 109.9 109.9 106.8 108.4 43,300 4,674,574 319,973
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Ayala’s AC Health acquires controlling stake in Qualimed
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By VG Cabuag
@villygc
YALA Healthcare Holdings Inc. (AC Health) on Tuesday said it took in a controlling stake in Mercado General Hospital Inc. (MGHI), which operates the Qualimed brand of hospitals, after it bought the stake of its sister firm and those of the Mercado Group. In its disclosure, AC Health, through its unit Healthway Philippines Inc., said it has bought the 39.2-percent share of Ayala Land Inc. (ALI) in the hospital group and the 15-percent share of the Mercado Group, composed of Edwin M. Mercado, Ma. Soledad V. Mercado, Edward V.A. Lim, Susan M. Lat, Jose V. Tecson III, Nirmala Barbara S. Vanguardia, Edwin G. Magsino, Diana Kristine L. Carpio, Alma Panganiban-Andal, Prescilla T. Molinyawe, Nerissa M. Austria, Zosimo C. Malabanan and Menandro A. Villadelgado. The subsidiary of conglomerate
Ayala Corp. will also subscribe to 38.25 million cumulative, redeemable and non-participating preferred shares from White Knight and Mercado Group equivalent to 34.51 percent of the outstanding capital stock of shares of MGHI. This will bring Healthway’s voting interest in the hospital group to 70 percent. White Knight is the vehicle used by Ayala Land to buy into Qualimed. The companies declined to give the amount of the acquisition but Ayala Land said the “pricing was based on comparable market multiples, discounted cash flow methodology and other relevant financial
metrics.” “Cash generated from the transaction can be used by ALI for its operations,” it said. The addition of Qualimed expands the AC Health clinic and hospital portfolio, housed under Healthway, which includes all family, specialty and corporate clinics, which earlier this year were integrated under one Healthway brand. AC Health will now have four general hospitals, more than 85 outpatient clinics and about 80 corporate clinics, as well as the country’s first cancer specialty hospital which the company announced previously. “We have always believed in Qualimed’s vision to deliver accessible and affordable healthcare to Filipinos. Over the past few years, we have built a strong partnership between Qualimed and Ayala Land and we are delighted to integrate Qualimed into AC Health’s growing portfolio. The Covid-19 pandemic has renewed the Ayala Group’s commitment to invest in healthcare, and with this investment, we will be better positioned to provide much-needed healthcare services for the country,” Fernando Zobel de Ayala, chairman of AC Health, said. Qualimed includes four hospitals in Nuvali in Sta. Rosa, San Jose Del
Monte in Bulacan, Iloilo City and Daniel O. Mercado Medical Center in Tanauan, Batangas. In addition, Qualimed also operates an ambulatory surgical center in UP-PGH, and has clinics in Makati, Quezon City and in Cebu IT Park. “With the addition of the Qualimed Health Network, AC Health now completes the entire continuum of patient care, from primary clinics, multi-specialty care and now to hospital care. We have taken a deliberate approach to building up our healthcare ecosystem, with the goal of delivering an integrated patient experience for more Filipinos,” AC Health president and CEO Paolo Borromeo said. Edwin Mercado, president and CEO of Qualimed Health Network, said their partnership with AC Health to upgrade its hospitals and build Covid-19 laboratories allowed Qualimed to serve thousands of patients across its network during this pandemic. “It is this collaborative spirit that will ensure Qualimed’s continued growth during these challenging times. Qualimed has always endeavored to make healthcare more accessible, and we hope this partnership will allow us to accelerate that vision even further.”
GCash: Aid communities using app G
CASH, the undisputed leader and preferred mobile wallet in the Philippines, are encouraging Filipinos to give back during the holiday season by donating through the GCash app and giving beneficiaries a Merry GCash Christmas. Coming from a total of over P23 million gathered from its #UlyssesPHAid and #TulongCagayan donation drives, GCash said it is looking forward once again to the unwavering Filipino “bayanihan” spirit to spread the yuletide cheer to communities that need aid and support. “More than an app, GCash has genuinely become a force for good by democratizing donations through financial technology, and removing traditional barriers towards the same. Financial assistance arrives significantly faster, and is mobilized immediately for helping those in need,” said Martha Sazon, president and CEO of GCash. A part of GCash’s Merry GCash campaign, customers can donate using the app by simply going to Pay Bills, looking for #GCashGivesBack, and entering the amount they want to donate. Customers will be provided with an SMS receipt as a proof of transaction. GCash is working with 12 NGO partners, namely, Alternative Indigenous Development Foundation Inc., Animal Kingdom, Kaya Natin
Movement, Kusina ng Kalinga, Mama Earth Foundation, Operation Blessing, Project Biyahero, Project Pearls, Pusod Inc, Smile Train, Tanging Yaman Foundation, and Virlanie Foundation, in helping affected communities. All proceeds collected from December to January 2021 will go directly to the aforementioned beneficiaries. Previously, some GCash users have also mobilized their GCash accounts to create their own fundraisers for the benefit of affected communities by typhoon Ulysses. “Coming from a very challenging year, we want as many Filipinos to still feel what the Christmas spirit is all about, and one way of making it possible is through GCash. Your donations will go a long way in making families a little bit happier this holiday season,” Sazon added. Aside from giving back this Christmas through donations, ninongs and ninangs can still also give pamasko to their inaanaks by sending money through the app through Send Pamasko—no need for physical red envelopes, while staying safe against the pandemic. GCash has also launched the Merry GCash campaign this holiday season, with over P30 million in prizes and surprises in store for customers. Customers may visit facebook.com/gcashofficial for more information.
Japan Inc. cuts bonuses for workers
J
APANESE companies have pared back year-end bonuses for employees by the most since the global financial crisis, putting additional pressure on consumer spending amid signs of a slowing economic recovery. Individual bonuses for employees fell by 9 percent to 865,621 yen ($8,368), according to a weighted average of special payments by 164 large corporations tallied by major business lobby Keidanren. That’s the steepest drop since 2009, when winter bonuses slumped 15 percent. The thinner payouts are likely to serve another blow to seasonal spending following the decision by Prime Minister Yoshihide Suga to call a temporary halt to a domestic travel initiative around the New Year’s holiday. The Go-To travel campaign has been one of the government’s key tools for boosting consumption. The bonus data also confirms the delayed response of Japan’s biggest companies to reduce overall compensation amid the pandemic. Firms largely honored previously
agreed payments in the summer. Bonuses then edged down 2.2 percent. Service companies took a bigger hit with a 13-percent drop, compared with a 7.5-percent slide among manufacturers. Employees at two Japan Railway companies ended up with almost $3,000 less in extra payments than last year, while steel workers took a 25-percent hit. Japanese companies use bonuses to cut costs in a downturn while maintaining base pay and jobs for their salaried workers. Though unemployment has soared in many countries during Covid-19, the main jobless rate in Japan remains low at 3.1 percent. Still, the economy needs consumer spending to continue fueling the recovery. The government, already concerned that the economy risks losing recovery momentum, unveiled a stimulus package of more than $700 billion earlier this month. But some of the impact of the measures is likely to be delayed with the travel campaign on hold amid concern it could be contributing to record virus cases. Bloomberg News
MUTUAL FUNDS
December 22, 2020
NAV ONE YEAR THREE YEAR FIVE YEAR Y-T-D PER SHARE RETURN* RETURN STOCK FUNDS ALFM GROWTH FUND, INC. -A 229.69 -7.17% -7.21% -1.3% -8.8% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.3411 -2.17% -5.53% 3.1% -2.96% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 3.1813 -12.31% -10.9% -2.64% -13.51% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.8154 -7.14% -6.94% N.A. -9.2% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.7642 - 8.44% N.A. N.A. -10.02% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 5.0096 -3.96% -5.27% -0.94% -5.98% FIRST METRO SAVE AND LEARN PHILIPPINE INDEX FUND, INC. -A,4 0.7706 -7.96% -7.6% N.A. -9.72% MBG EQUITY INVESTMENT FUND, INC. -A 102.42 -0.22% N.A. N.A. -0.78% PAMI EQUITY INDEX FUND, INC. -A 47.4153 -5.69% -4.9% 0.41% -7.54% PHILAM STRATEGIC GROWTH FUND, INC. -A 494.16 -5.55% -5.01% -0.34% -7.25% PHILEQUITY ALPHA ONE FUND, INC. -A,D,5 1.1003 10.06% N.A. N.A. 6.81% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.1806 -6.49% -4.95% 0.21% -8.26% PHILEQUITY FUND, INC. -A 35.0852 -5.7% -4.51% 0.85% -7.42% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A 0.9233 -7.58% N.A. N.A. -9.31% PHILEQUITY PSE INDEX FUND INC. -A 4.8505 -5.22% -4.41% 1.14% -7.14% PHILIPPINE STOCK INDEX FUND CORP. -A 811.3 -5.02% -4.31% 1.04% -6.96% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.7318 -12.93% -8.28% -3% -14.05% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 3.674 -10.91% -0.72% -12.71% -6.45% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 0.9289 -5.27% -4.62% 0.92% -7.18% UNITED FUND, INC. -A 3.3555 -6.64% -4.01% 1.4% -8.15% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C 108.8508 -4.97% -4.06% 1.79% -6.93% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ATRAM ASIAPLUS EQUITY FUND, INC. -B $1.1968 16.95% 3.54% 6.3% 16.37% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.67 22.75% 9.89% N.A. 21.13% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.6791 8.2% -2.92% -0.6% 7.44% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.3025 6.6% -1.71% 1.59% 5.57% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.6478 2.01% -1.04% -0.21% 0.62% FIRST METRO SAVE AND LEARN F.O.C.C.U.S. DYNAMIC FUND, INC. -A,1 0.2 -11.97% N.A. N.A. -12.47% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.9741 1.52% 0.23% 2.08% 0.64% PAMI HORIZON FUND, INC. -A 3.8097 1.75% -0.38% 1.49% 0.54% PHILAM FUND, INC. -A 17.0246 1.5% -0.51% 1.39% 0.38% SOLIDARITAS FUND, INC. -A 2.1068 0.03% -1.74% 1.09% -0.72% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.5997 -5.49% -2.98% 0.14% -6.83% SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D 1.0263 2.44% N.A. N.A. 1.04% SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D 0.9593 -1.92% N.A. N.A. -3.72% SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D 0.9435 -3.21% N.A. N.A. -5% SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.8986 -6.19% -3.59% -0.54% -7.82% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03907 2.69% 2% 2.28% 2.01% PAMI ASIA BALANCED FUND, INC. -B $1.1457 10.89% 3.09% 5.48% 13.21% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $4.5065 16.29% 7.4% 7.91% 15.24% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A,3 $1.2014 7.05% 3.56% N.A. 6.44% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 370.88 3.76% 3.25% 2.81% 3.62% ATRAM CORPORATE BOND FUND, INC. -A 1.8995 -0.06% 0.05% 0.01% -0.13% COCOLIFE FIXED INCOME FUND, INC. -A 3.2121 3.23% 4.48% 4.82% 3.02% EKKLESIA MUTUAL FUND INC. -A 2.2944 3.34% 2.98% 2.47% 3.19% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.45 4.01% 3.43% 2.16% 3.85% PHILAM BOND FUND, INC. -A 4.6275 6.07% 4.65% 3.16% 5.82% PHILAM MANAGED INCOME FUND, INC. -A,6 1.3196 5.15% 4.47% 2.64% 5.01% PHILEQUITY PESO BOND FUND, INC. -A 3.9911 6.05% 4.58% 2.81% 5.36% SOLDIVO BOND FUND, INC. -A 1.039 8.06% 4.16% 2.69% 7.75% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 3.1924 4.19% 4.73% 3.48% 3.8% SUN LIFE PROSPERITY GS FUND, INC. -A 1.7478 3.1% 4.09% 2.82% 2.75% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. -A $483.7 3.36% 2.78% 2.96% 3.28% ALFM EURO BOND FUND, INC. -A Є219.17 -0.28% 0.83% 1.22% -0.28% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.2757 5.75% 3.99% 3.13% 5.67% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0266 3.1% 2.09% 1.83% 3.1% -0.14% 0.73% 0.74% -0.15% PAMI GLOBAL BOND FUND, INC -B $1.092 PHILAM DOLLAR BOND FUND, INC. -A $2.5313 5.48% 4.07% 3.69% 5.32% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.0623809 3.43% 2.81% 2.39% 3.45% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $3.2277 1.73% 2.39% 2.63% 1.65% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC. -A 129.76 3.25% 3.35% 2.58% 3.12% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A 1.0477 1.57% N.A. N.A. 2.09% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.296 2.58% 2.99% 2.61% 2.45% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.0522 1.5% 1.75% N.A. 1.34% FEEDER FUNDS PRIMARILY INVESTED IN PESO SECURITIES SUN LIFE PROSPERITY WORLD EQUITY INDEX FEEDER FUND, INC. -A,D,7 1.1214 N.A. N.A. N.A. N.A. PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM GLOBAL MULTI-ASSET INCOME FUND INC. -B,D,2 $0.98 -1.01% N.A. N.A. -1.01% 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."
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Entrepreneur BusinessMirror
Editor: Vittorio V. Vitug • Wednesday, December 23, 2020 B3
College dropout wins student entrepreneur award
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former college dropout from a broken family emerged as champion of the Entrepreneurs’ Organization (EO) Global Student Entrepreneur Awards (GSEA) Philippines Finals.
Charles de Belen, a Master of Science in Innovation and Business student at the Asian Institute of Management and a licensed lawyer, won the Philippine leg of the global competition as the founder of Bestway Consultancy, a company that helps other entrepreneurs start businesses. Held annually, GSEA is the premiere global competition for student entrepreneurs who own and operate a business. The competition also provides a platform where student entrepreneurs can connect with key industry players locally and internationally, allowing them to gain valu-
able insights and learn best practices. “I encourage all student entrepreneurs to follow their dreams and passions,” says EO Philippines GSEA chairman JP Tuason. “We look forward to developing more amazing young student entrepreneurs in 2021 and beyond.” “What I love about the GSEA experience,” added de Belen, “...is that when you start a business, somewhere along the way, you forget why you started the business in the first place. Through the GSEA, I was able to find that ‘why’ back.” As EO GSEA Philippines Champion, de Belen will receive a cash
prize of P150,000 and the privilege to represent the country in the EO GSEA Global Finals to be held in 2021. The EO GSEA Global Finals is held annually to coincide with the EO Global Leadership Conference (GLC), but was conducted virtually this year due to Covid-19 concerns. De Belen’s emergence as the EO GSEA Philippines champion is a true against-all-odds story, as his parents separated and left him to his grandmother at an early age, and he had to drop out of De La Salle University (DLSU) due to financial reasons. It was when he resumed his studies at the Far Eastern University (FEU) that de Belen reached a turning point. One of his professors, Joeven Castro, currently VP of Academic Services at FEU, saw his potential and invited him to join the debate team. It was his experience there that made him realize he had the capacity to achieve. Another pivotal moment for de Belen came when a computer gam-
MICE player Abrie shows how innovation, adapting to change could help amid Covid
Entreps urged to build brands, gain market edge
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By Roderick L. Abad @rodrik_28
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ESPITE the ongoing pandemic, the meetings, incentives, conventions and exhibitions (MICE) sector, though it continues to grapple from the effects of the Covid-19 pandemic, still has reasons to celebrate in the age of the “new normal.” Industry player Abrie Events and VIP Services, with its creativity to adapt to the current situation, has shown its tenacity and perseverance to withstand the challenges brought about by the unprecedented health crisis. “We treat the pandemic as a way to improve ourselves and innovate as a business. We are new entrepreneurs who want to give hope and faith to younger generation that following your passion will always result you to succeeding in life together with hard work,” Abrie Events Co-owner Abi Padiernos told the BusinessMirror in an e-mail interview. Started in October 2018, the full service production company came into being simply from the common shared passion in doing and coordinating events that she developed together with her co-owner Marie Valencia during their more than a decade of experience working in the hospitality industry. Abrie Events caters to all clients’ needs, from full coordination and production (lights and sounds, stage design, technical team to styling, and concept planning that includes scriptwriting) to hosting company events and occasions, as well as road management and VIP services. Just like many of the many micro, small and medium enterprises in the country that have been caught unprepared by the ensuing crisis, including the 40,000 live event industry players that contribute to the national coffers at around P221 billion, the twoyear-old company also has its own share of a challenges in these trying times. “Due to the circumstances, almost all our events for 2020 were canceled,” Padiernos conceded, while citing 85 percent of their overall business has been lost since the implementation of government-imposed community quarantines in March of this year. Unfazed by Covid-19, they were brave and innovative enough to revamp their business model to survive. Hence, they just focused
ing friend was killed in a gambling dispute. That was when he realized that he wanted to make a mark in the world and not be quickly forgotten when he is gone. In addition to Bestway Consultancy, de Belen has founded several other entities, including Letsan Belly, a vendor of lechon belly; EndCOV, a contact tracing app for Covid-19; Karapatan, a non-profit organization providing free legal assistance, GoodGovPH, a youth-led non-profit organization that advocates good governance; and Dibi, an online marketplace for rental items. Second place went to Sofia Coronel, a student from the University of Asia and the Pacific and founder of Convo Design, while third place went to Ryan Ibay, a student from the University of the Philippines and founder of Mindoceo. A replay of the competition is available on the EO GSEA Philippines Facebook page. Student entrepreneurs can apply for next year’s competition on the GSEA web site www.gsea.org.
ABRIE Events and VIP Services Co-owner Abi Padiernos (third from left) strikes a pose with members of international rap group Black Eyed Peas during the closing ceremony of the Southeast Asian Games 2019 held in the Philippines.
on virtual corporate events and intimate gatherings for weddings and birthdays. “Filipinos are naturally sociable and hospitable people that’s why we think these new strategies are taking flight in the industry,” she pointed out. T he coow ner reiterated, though, that they deliver these offerings without sacrificing the safety of customers by adhering to the standards set. “Experiencing the new normal is an adjustment, however, for safety protocols we are one of the doers who shows it’s still possible to celebrate now. We are big on health safety standards and always communicate with our clients in what they want to achieve in their event and what are the restrictions we should consider,” she explained. To ensure that they observe proper social distancing, Abrie Events has reduced the usual number of attendees of birthday parties and nuptials it organizes from 1,000 to 100. Also, it now offers an option to hold these special affairs and company events online. “With the modern era, we were able to connect worldwide through the Internet and other channels involving online media, streaming, etc. With just a simple click on the phone we can already travel with our eyes,” said Padiernos. She added that they have also started doing marketing for startup businesses during the pandemic and now promote Christmas cyber events. But their “bread and
butter” does not end there, as they have diversified to the retail of specialty meats for the past five months already. “The past eight months we really did not know what to expect since we are still continuously evolving and adapting to the new norm but what we have found amidst the situation is to venture out into other ways to earn. What the pandemic pushed us small start-ups and small business owners to do is to try other things to survive and earn,” she shared. Confident of their continued existence and that they will bounce back better once the gloomy days are over, the event organizer revealed their plan to continue leveraging on web-based gatherings and providing unique customer experience. “We are pushing for online events involving Zoom, Google Meet, etc. This is how we connect to the audience. And to the guests, we will be pursuing creating gift boxes or ideas that we can send to the attendees to make them feel like they are participating in the event even virtually,” Padiernos said. “For events, the clients are now more into sending ‘participating kits/event boxes/food trays’ to make it somehow manageable to attend an event. The kits or event boxes often engage the audience to spruce up their own homes to feel the vibe of a specific event. We will be still tapping our trusted suppliers to promote this idea which keeps everyone afloat,” she added.
ntrepreneurs are advised to brand themselves as they transition to digital business to gain competitive advantages. “Make sure our business, or our brand has a recall to people. That is why more than ever, it is important if you are doing business for a while now to revamp your brand, and if you are new to the business to build your brand so we can make sure that we get the right audience and the right customers come in for our business,” Canva Philippines Community Lead Gladys Lacorte said in a webinar. Lacorte said successful brands have clear purpose, values, and personality or character. “The values should always be clear and actionable,” she said, identifying examples of guiding values such as pursuing excellence, making complex things simple, and setting big goals and making them happen. Lacorte also underscored the importance of having a style guide and a brand name. “So a few tips in building, or deciding on your brand name—it should be memorable, it’s purposeful, it’s appropriate and most of all, please make sure that the brand name that you decide on is available so do your research and check out the competition or other brands around you. Is anyone else in the country using the brand name, is anyone else outside of the country using the brand name? It is very important that we don’t just look inside the Philippines but even outside,” she said. Lacorte said brand names can be descriptive, emotive or invented. She added business owners also need to connect their brands with colors, have a right font that complements brand personality, and a logo telling a story of their brands. “By the colors of the brands, even if you don’t see their logos or their brands or what their businesses are, you already have a recognition of who they are,” she said. Lacorte said they should stick to just one to two fonts, and not use all the fonts available. “Please always be consistent so that you can generate recognition from your audience and play with hierarchy. So when you are creating a content or a poster, what is the message that you wanted to highlight to your audiences?,” she said. “Also when you are doing content for your brand, it is important to style your imagery and stay consistent because your brand imagery is everything that makes your brand visual/aesthetic,” she added. Lacorte further said it is likewise imperative for businesses to get feedback from the market or audience about their brand name or look. “Do experimentations when it comes to branding. Within a month, hopefully, get their answers and you know what they want because it is very important for us to put them at the forefront of everything because they are our customers. Do your research and know what is popular to them and then it should just guide you,” she added.
Corporate, small lessors recognize disrupting effect of Covid-19 pandemic
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he 7-Eleven convenience store chain, which is exclusively licensed by PhilSeven Corp. (PSC) in the Philippines, is grateful to its developer and lessor partners for coming up with various measures to help retail establishments remain afloat as the pandemic continues to hit the country’s economy. According to Uly Borral, Business Development Division Head, lessors have changed their business strategy to be able to cope with the effects of the pandemic. When 7-Eleven began to negotiate for rental concessions on stores in March, when the enhanced community quarantine (ECQ) was implemented, many lessors agreed to the terms. As a result, almost 2,000 stores all over the country were given rental concessions, discounts, freeze escalations, percentage of sales and others by developers including SM, Ayala, Megaworld Properties, Cityland Development Corp., Araneta City, Inc., Filinvest Development Corp., Double Dragon Properties Corp., and Federal Land Inc.
Safe, sustainable biz ops
Aside from understanding the needs of its retail partners, developers and lessors also took the initiative of guiding retailers by keeping them up-to-date with the health and safety protocols set by the government. They even assisted in the proper sanitation and disinfection of 7-Eleven stores. SM Supermalls, after waiving its rental fees to its tenants during the lockdown period, also gave rental concessions to stores like 7-Eleven to help them recover during the transition period and remain sustainable for a long-term period. It helped 7-Eleven keep its operations as among the essential shops needed to serve the public. Part of SM’s implementation of safety protocols, under the guidance set by the Inter-Agency Task Force for Emerging Infectious Diseases (IATF-EID), is prioritizing safety from Covid-19 by giving free rapid tests to all employees and frontliners, providing them with sanitizers and thermal scanning, personal protective equipment, face masks and face shields,
as well as implementing social distancing in their respective workplaces and malls. SM also tapped its digital platform Shop@SM and launched its Viber community to bridge its tenants to customers who wished to shop online. It also allowed curbside pick-up of items, take out and deliveries to reduce human-tohuman contact. When the government eased the community quarantine level, it allowed SM to extend its base mall hours which gave tenants like 7-Eleven to operate and serve customers longer. Meanwhile, the operations team of Filinvest took the effort in issuing a “Back to Business Merchant Manual” as a guide for its tenants and retail partners in implementing the prescribed safety, sanitation, and social distancing protocols set by the IATF-EID. On the other hand, Megaworld took advantage of its township model, which it pioneered in the country, and offered lodging to employees of its retail partners during the modified ECQ period to address the latter’s logistic challenges. This resolved the commuting woes of employees when public transportation was put to a halt by the government during the ECQ and helped in continuing operations of retail partners. For Filinvest, it decided to waive the rent, commercial area maintenance, and air-con charges of its tenants from the period of March 16 until April 15, 2020. Similarly, Megaworld waived the rent of its retail partners in Metro Manila and the rest of Luzon that were not permitted to operate under government regulations. Araneta City Inc. also implemented similar appropriate financial support to its tenants and maintained essential services (maintenance, sanitation, and security among others) to support operations of permitted establishments when the community quarantine started. When quarantine guidelines were eased by the national government and some public transport routes were allowed to operate, Araneta City organized the access to its area of permitted public transport routes/operators for the convenience of both customers and employees.
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Banking&Finance BusinessMirror
Wednesday, December 23, 2020
Microfinance groups secure $15M debt financing from IFC T
www.businessmirror.com.ph
Govt to borrow ₧140B from local debt market
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By Bernadette D. Nicolas
@BNicolasBM
he private sector arm of the World Bank Group, the International Finance Corp. (IFC), plans to issue up to P750 million ($15 million) in debt financing to two of the country’s largest microfinance institutions to help keep businesses afloat amid the economic and health crises. The IFC said in a statement on Tuesday that the new loans would be issued to Card Bank Inc. and Card SME Bank Inc.; both part of the Center for Agriculture and Rural Development-Mutually Reinforcing Institutions (Card MRI) Group. According to the IFC, the Card MRI “aims to empower socially and economically challenged women and families by providing access to financial, educational, social and health services.” The group has 6.9 million clients and insures over 25 million people in the Philippines, the IFC statement said. The P750-million investment aims to benefit over 60,000 companies, 44,000 of which are micro, small and medium enterprises (MSMEs) owned or led by women, the IFC said.
“This will provide critical working capital to MSMEs, which have been especially disadvantaged by the pandemic due to the lack of funding buffers and capacity to restart operations during strict quarantine periods.” MSMEs account for 99.5 percent of businesses in the Philippines. More than half of these businesses are led by women. The largest share of companies operates in wholesale and retail, which have been particularly affected by government’s lockdown measures against the Covid-19 pandemic. “Filipino women entrepreneurs are fighting to recover from the grave effects of the pandemic; and we are right behind them every step of the way” Card MRI Founder and Chairman Emeritus Jaime Aristotle
B. Alip was quoted in the statement as saying. “We believe that a poverty-free Philippines can be achieved by empowering these women to reach their full potential,” Alip said. “Through this partnership with IFC, we can reach more women-owned and led MSMEs and help them continue their journey towards a better future.” The financing package is part of IFC’s $8-billion global Covid-19 fast-track financing facility aimed at helping businesses stay afloat during the ongoing public health crisis. The loans are being provided through IFC’s working capital solutions program, a $2 billion facility that provides funding to emergingmarket banks to extend credit to help businesses shore up their working capital. The transaction is IFC’s first investment in the Philippines as part of its “Banking on Women” business, providing financing and expertise to financial institutions to help them profitably finance women-owned businesses. Women customers present a substantial growth opportunity for financial institutions and financialtechnology companies, known as fintechs. Women own and lead roughly 9.7 million formal SMEs and 63.8 million microbusinesses in emerging markets, with a total estimated unmet credit demand of $1.5 trillion.
“The transaction builds on a relationship between IFC and Card MRI that began in 2007 when IFC helped Card MRI develop an SME-lending platform,” the IFC said. “Since then, the two institutions have worked together on a series of initiatives, including agrifinance, digital risk management and the ‘Binhi Crop Insurance’ program, which protects farmers from the adverse effects of natural disasters.” “We are delighted to continue our long-standing relationship with Alip and the Card MRI Group,” Rosy Khanna, regional industry director for financial institutionsAsia Pacific at IFC, was quoted in the statement as saying. “The success of women-owned businesses in the Philippines is critical to the success of the overall economy. Our investment will help provide much-needed working capital at a crucial time for micro, small and medium sized businesses, helping them to sustain operations and save jobs so they are on a better footing for a successful post-crisis recovery.” The Card Bank and the Card SME Bank have more than 120 branches and serve four million customers, according to the IFC. Its “Support from the Women Entrepreneurs Finance Initiative,” or We-Fi, in the form of performance-based incentives will help the banks reach pre-defined targets for lending to women-owned and/or led SMEs.
Revitalizing in the outdoors
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AGAYTAY CITY—After nine months of being cooped up in the National Capital Region, it’s refreshing to take a preChristmas break and hie off to this so-called second summer capital of the Philippines in the province of Cavite, which is part of Southern Luzon’s Calabarzon region. Unlike its rival Baguio City, Tagaytay does not require visitors to engage an accredited tour operator, show proof of accommodation booking and itinerary, or present Covid-19 test results. Gone are the checkpoints that used to cause traffic when military and police personnel asked for travel authority documents from non-Cavite residents and those who were not classified as “Apor” or “authorized persons outside residence.” This year, the tourism industry suffered a double whammy in this city on the ridge—starting with the eruption of neighboring Taal Volcano last January and aggravated by the series of lockdowns from mid-March to October due to the pandemic. But the favorite weekend destination of Metro Manilans is now on its way to recovery after quarantine protocols were relaxed beginning last month. While living in the metropolis has its perks, there are times when you would rather escape the urban frenzy and move to a more restful venue. Although it can be difficult to let go of city conveniences that we have grown accustomed to, the lure of clean air and clear skies could be quite tempting. The best solution then is to choose an address that lets you enjoy the best of both worlds. Not far from here is a residential tourism estate called Batulao Artscapes, just 20 minutes away from Tagaytay’s city center and the beaches of Nasugbu in Batangas. Nestled on the foothills of Mount Batulao, the expansive designerdriven community is being developed by the Century Properties Group (CPG) into a livable space for those who want a change of pace. Grounded in natural beauty,
he Philippine government is set to borrow P140 billion from the local debt market in January next year. Broken down, the Bureau of the Treasury will be auctioning off a total of P80 billion in Treasury Bills (T-bills) and P60 billion in Treasury Bonds (T-bonds) for the first month of the year. Under the memorandum signed by National Treasurer Rosalia V. De Leon, a total of P20 billion consisting of 91-day, 182-day and 364-day in T-bills will be offered on January 4, January 11, January 18 and January 25. On the other hand, P30-billion in 5-year T-bonds will be auctioned off on January 5 while another P30billion in 7-year T-bonds will be up for sale on January 19. De Leon told reporters on Tuesday that the “program is based on auction performance during this quarter and market expectations on monetary authorities policy actions going into next year.” For next year, the government is set to borrow P3 trillion. Economic managers are also expecting the country’s outstanding debt to further swell to P11.98 trillion and the country’s debt-to-GDP (gross domestic product) ratio to rise to 58.28 percent. This year, the government has
more than doubled its borrowing program to an all-time high nominal P3 trillion from P1.4 trillion originally. The funds should cover the expected doubling of the budget deficit as well as to fund its spending requirements for its Covid-19 response. Gross borrowings of the national government from January to October this year had already reached P3.22 trillion, breaching the P3trillion borrowing program set by the national government this year to finance its spending requirements and the budget deficit amid the economic and health crises. With an expected increase in revenue collections and disbursements, the Cabinet-level Development Budget Coordination Committee (DBCC) trimmed its projection in the budget deficit from 9.6 percent of GDP to 7.6 percent of GDP this year. The country’s outstanding debt as of end-October has already amounted to P10.028 trillion; just over a hundred billion shy of the P10.16 trillion outstanding debt level that the economic managers had earlier projected for this year. The DBCC also earlier projected the country’s debt-to-GDP ratio this year to increase to 53.91 percent of GDP—a level it hasn’t seen in over a decade—from a record low of 39.6 percent of GDP last year. Bernadette D. Nicolas
Sumitomo Mitsui Financial Group on hunt for Asian bank, US deals partner
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Finex free enterprise Joseph Araneta Gamboa Batulao Artscapes is the nurturing middle ground where one can work from home amid lush surroundings while keeping the creature comforts of the city within reach. Available designer residences are located in three enclaves: Polygonal-successions townhomes designed by multi-awarded Architect Eduardo Calma; Hedera duplexes and singledetached houses from world-renowned Furniture-maker Kenneth Cobonpue; and, Commune Village 1, which is a collaboration between Calma and Cobonpue. Known for its groundbreaking properties found in key locations across Luzon, CPG recognizes the importance of building not only captivating structures but also architectural marvels that uphold the safety and wellbeing of its communities. For example, its development projects at Century City in Makati, The Residences at Commonwealth in Quezon City, Acqua in Mandaluyong, Azure in Parañaque and Azure North in San Fernando have effective flood prevention systems since they are situated in areas frequently visited by typhoons. Nothing beats waking up to the sound of rustling trees though, and relocating to the Metro Tagaytay suburbs has become an attractive alternative for city denizens like me who long for outdoor spaces that block out the noise and offer the beauty of nature for the soul. Joseph Gamboa is the co-chairman of the Finex Week 2020 Annual Conference, chairman of the Finex Business Columns Subcommittee, and director of Noble Asia Industrial Corp. The views expressed herein do not necessarily reflect the opinion of these institutions and the BusinessMirror .
BANK LANDS HONORS
Department of Environment and Natural Resources Undersecretary for Solid Waste Management and Local Government Units Concerns and Supervising Undersecretary of the Strategic Communication and Initiatives Service Benny D. Antiporda (left) bestows to the Land Bank of the Philippines represented by its Corporate Affairs Specialist III Arnold O. Aldaba (right) the prestigious Kamagong Award during the Recognition of Volunteers held in celebration of the National Volunteer Month on December 15 at the DENR Central Office. Photo courtesy Department of Environment and Natural Resources
CitySavings raises ₧5 billion from corporate notes issue By Tyrone Jasper C. Piad @Tyronepiad
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ity Savings Bank Inc. raked in P5 billion from issuance of corporate notes, proceeds of which are allocated to beef up bank assets. In a disclosure on Tuesday, its parent firm Union Bank of the Philippines noted that the amount raised from the transaction is allocated to fund its loan portfolio, extend the maturity profile of its liabilities and to finance other general corporate requirements. Of the total issuance, P1.5 million is set to mature in three years while the remaining P3.5 billion has a tenor of five years. “CitySavings’ Notes issuance was undertaken amidst a favorable interest rate environment and was priced at the lowest end of the pricing range,” UnionBank said. The thrift bank arm’s offering was met with robust demand from financial institutions, the Aboitiz-led bank said, noting that CitySavings is now well-positioned for future capital market deals. To note, shares in UnionBank dropped by 3.09 percent, or P2.20, to close at P69 each amid the 0.31-percent drop for the benchmark index on Tuesday. BDO Capital and Investment Corp. was the lead arranger and bookrunner of the transaction. Meanwhile, Development Bank of the Philippines, Philippine National Bank and Robin-
sons Bank were tapped as co-arrangers. “We believe that CitySavings is a key player in the Philippine banking system, as it provides financing to our public educators who in turn play a critical part in molding and strengthening our country’s future prospects,” BDO Capital President Eduardo V. Francisco said. CitySavings President Lorenzo T. Ocampo, meanwhile, said that the bank will “continue to grow and evolve to become the finest mass market bank in the Philippines as we introduce more innovative solutions for a seamless customer experience.” In September, CitySavings announced it inked a partnership with financial technology (fintech) firm FinScore for credit scoring and fraud flagging. The thrift bank said that the fintech company will provide credit scoring for its motorcycle loan applicants. The model is based on more than 400 telco variables including data and voice usage, top-up patterns, location and device data. “With FinScore’s highly predictive machine learning technology, CitySavings is now geared up to open more opportunities to approve loans for both banked and underbanked applicants,” the Aboitiz-led bank said. As of end-September, UnionBank saw its net income drop by 0.9 percent to P8.5 billion because of higher bad loan provisions.
umitomo Mitsui Financial Group Inc. is seeking to buy an Asian lender and team up with a global investment bank on US dealmaking, signaling its expansion plans remain undeterred by the pandemic. Japan’s second-biggest bank is “studying specific targets” in Vietnam, the Philippines and India, CEO Jun Ohta said in an interview. It wants to find a partner to underwrite equity and bond sales in the US and elsewhere, after the lender was unable to fully take advantage of a corporate financing boom this year, he said. The plans underscore how Sumitomo Mitsui is looking beyond the coronavirus-fueled recession to grow abroad, with rock-bottom interest rates and a shrinking population likely to hamper prospects at home for years to come. “It may not immediately lead to a profit increase, but we’re going to buy what will provide a business platform in emerging countries from a long-term perspective,” Ohta said, explaining the rationale behind buying commercial banks in Asia. He didn’t identify the companies on his list of potential targets. Sumitomo Mitsui is the most likely of Japan’s three so-called megabanks to purchase an Asian lender. Larger rival Mitsubishi UFJ Financial Group Inc. recently said its acquisition phase is over after spending about $15 billion on banks in Indonesia, Thailand, Vietnam and the Philippines. Mizuho Financial Group Inc. has indicated a lack of interest in buying Asian banks with physical branches. Just a year ago, Sumitomo Mitsui failed in a bid for Indonesia’s PT Bank Permata, which was acquired by Bangkok Bank Pcl. “It was very painful to miss out on Permata,” Ohta said, adding “we are thinking about the next move.” Sumitomo Mitsui already owns PT Bank BTPN in the Southeast Asian nation.
India, Vietnam
The Tokyo-based bank is “studying various ways” to enter the industry in India, Ohta said, even as lenders there struggle with mounting bad loans. Asked about Indian authorities’ recent decision to allow a foreign
Jun Ohta, CEO of Sumitomo Mitsui Financial Group.
bank to take over a local lender, he said that since the move was designed to rescue troubled ones, potential targets need to be carefully examined for whether they can be turned around. “The conditions aren’t great in India now, but that doesn’t mean we’ve given up on the country, given its growth potential,” he said. Sumitomo Mitsui has three branches in the nation. He also said the bank’s 15 percent stake in Eximbank of Vietnam won’t be an obstacle to a possible acquisition of another lender in the country. Shares of Sumitomo Mitsui fell 0.8 percent in Tokyo on Tuesday morning, taking this year’s decline to 22 percent, broadly in line with its two local rivals.
US Deals
While Ohta said the bank also needs to consider acquisitions to boost its overseas investment banking business, he believes a more immediate solution is a tie-up with a big securities firm. Such an arrangement would involve Sumitomo Mitsui offering loans in exchange for a bigger role in bond and stock underwriting, he said. Large investment banks capitalized on a rush to tap global equity and debt capital markets this year, exposing a weakness at Sumitomo Mitsui, he said, adding that boosting mergers advisory business is another challenge to address. “We might even be able to team up with a bulge-bracket” firm, Ohta said, referring to an industry term for big investment banks. “We haven’t formed any specific plans yet, but some might be interested.” Bloomberg News
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THIS cute and lovable panda from We Bare Bears sports his reindeer look.
Making Christmas more merry IT’S the most wonderful time of the year at Miniso as it brings you quality and affordable gift ideas that should an added smile and whimsy to the holiday season. Miniso’s Christmas-inspired plush toys—Santa Clause, reindeer, gingerbread and snowman—will surely bring the holiday spirit to any home. We Bare Bears huggable characters Panda, Grizzly and Ice Bear in Christmas costumes are also available to have and to hold. The store’s fashionable Christmas headbands are also available to give you that fun holiday look. Consumers can conveniently shop your Christmas gifts now at shop.minisoph.com. All these and more are also available at Miniso stores located in most SM Supermalls nationwide.
WEAR this sparkly Christmas tree headband for a joyous holiday look.
• Wednesday, December 23, 2020
B5
Take the higher ground
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WAS meeting with several other supervisors in the organization and we were reviewing a material made by our executive leader which will be presented to a global organization. She asked a question and since I was looking down on the material, I did not notice I was the only one shaking my head in disagreement. “We do not have time to argue!” she announced with exasperation, and I looked up to meet her eyes glowering. I acquiesced but I could still feel the tension. After the meeting, I was expecting to be chastised but instead we chatted about how I was doing in my department and we parted as if nothing happened. She was one of those leaders who everybody knows as easy to forgive. She would be angry at you during the meeting but after a few minutes, she would totally forget what you argued about and would even offer to help you in your work. She would not literally say sorry but instead she would go out of her way to make sure everything is fine with you. But then, there are also leaders who would remember every detail of your offense and use it indiscriminately to make you look bad in the most embarrassing situations. As a leader, your attitude toward mistakes will determine if your people will seek to grow or work only within the confines of their job description. It will also show in what you do after you yourself have committed a blunder. But make no mistake—forgiving and condoning are two different things. Forgiveness is when you realize a mistake was committed and that you should learn from the mistake and it should not happen again—and that is why you say sorry and do whatever you can so you do not commit the same mistake again. That is why when our team member commits an error, we coach and set agreements, so we set action plans to avoid it. To condone is to know that something is wrong but we gloss over it—to the point that we encourage the behavior. This is when leaders deliberately overlook when they have committed a mistake, leading team members to think it is okay. In effect, the undesirable
behavior is inadvertently encouraged. As a leader, we need to acknowledge when we do something wrong so we can model accountability for our actions and in the process, help team members help themselves by building on their own strengths to overcome their weaknesses. But when we do not, our stubbornness can get in the way of seeing the value of mistakes and how they can be used to develop better versions of ourselves. As the leader, you model the behavior of what a workplace should be. These behaviors are caught rather than taught—especially forgiveness. When you commit a mistake and say sorry and just sweep it under the rug, you encourage your team to do the same. They would also emptily say sorry and ignore anything wrong that happened. Whether you like it or not, you influence the way people behave in your workplace. It is not always easy to say you did something wrong. But when you do, you encourage a behavior where mistakes are growing pains and you help your team become proactive in thinking of solutions more than finding fault. Speaking of fault, do not shift the blame when you know it really is your fault. As a leader, it is so easy to find fault with others and pin your downfall on the weakest link in the team. Leaders forget that they are accountable for their team. The buck stops with you. I know of people who invent all sorts of stories just to get out of accountability for their mistakes. They would also enjoin other people in their lies and blame the victims rather than take accountability for their actions. You lose not only your credibility as a leader, but also your respectability as a trustworthy person. People have more respect for leaders who take responsibility for their actions and seek to improve themselves, more than leaders who surround themselves with blame-shifting sycophants and fakenews peddlers. Take accountability for your actions, ask forgiveness, and then attempt to make restitution. Restitution is often forgotten. People assume that after saying sorry, it should already be okay. More often, it is not—especially if you did something which has significantly affected the way you work with a person, or, worse, leads them to lose complete faith in you. Attempt to do favors and offer your help when you can do so. Apologizing is empty if you do not genuinely want to become a better person. If there is a need to work with a person you have had such an issue with and you see no other way, let leaders, or even commonly trusted colleagues, intervene. There is value in having a third-party perspective because both of you may be too emotionally biased over what happened. Your leader
Hope fills the holidays THESE penguin plush toys are wonderfully wintry.
Editor: Gerard S. Ramos
FROM the Taal eruption and the Covid-19 pandemic to Typhoon Ulysses, the country has faced a year full of challenges, but Filipinos are a strong and resilient people—we bend, we do not break. As 2020 inches to a close, Shangri-La Plaza (www. facebook.com/shangrilaplazaofficial) celebrates our most beloved holiday with the warmth of home, and fills our hearts with the one thing that keeps us all going—hope. “After everything we’ve all gone through, many of us may not be in as high spirits as before. But Christmas always brings joy and healing, and Shangri-La Plaza wants to put that at the center of our celebrations,” says Joy R. Polloso, EVP of Shang Properties Inc. “It’s a choice to see beyond the current circumstances that we’re facing to something much better. That’s hope, and that’s what Christmas at the Shang is all about.” The mall decks its halls fittingly with butterflies,
symbolic creatures of transformation that reflect Filipinos’ capacity to continuously push forward, come through a great deal of darkness, and still come out as something beautiful. Cebu-based fashion designer Axel Que’s magnificent gown that stunned at the Miss Universe-Philippines pageant is one of the centerpieces of Shang’s décor. The popular mall welcomes its community with a truly meaningful and wonderful flight of the butterflies that lead to a brighter, better future. Que shares, “I hope my design as well as the decorations symbolize the hope for a better tomorrow—the kind of hope that helps us all move forward, unequivocally united, and moving toward a common goal of progress.” Christmas events and performances, as well as bazaars and fairs are ongoing, and with the mall’s longer hours, provide mall guests a haven of happiness this Christmas.
In the end, forgive yourself. There is so much time wasted on self-flagellating guilt and overthinking what-ifs that we forget we have a “right now” to enjoy. I have seen this several times in my timeline: “Breathe...it was just a bad day, not a bad life.” There are really some people in the workplace we will lose along the way. or friends can help you understand it logically and even suggest steps to restoring the relationship, or at least find ways for you to work together. Work on tasks together to hopefully restore trust. But do not force it. People have different ways of handling people who have wronged them. Not everybody forgives easily. And when they do not forgive you, accept it as it is. I do not believe in forgiving and just forgetting, but I believe in forgiving and moving on. If the working relationship is irreparable even after you have apologized and tried to do restitution, then move on. In the end, forgive yourself. There is so much time wasted on self-flagellating guilt and overthinking what-ifs that we forget we have a “right now” to enjoy. I have seen this several times in my timeline: “Breathe...it was just a bad day, not a bad life.” There are really some people in the workplace we will lose along the way. People will disagree with us and even go out of their way to destroy you. So, do not be too hard on yourself. After doing everything you can, forgive yourself and let go. I have heard it said that “resentment is like taking poison and waiting for the other person to die.” Unforgiveness works that way. When we as leaders forget to humble ourselves and ask for forgiveness, we build resentment in our team. When we look for ways to escape accountability, expect your team to do the same. So, take the higher ground and be the better leader by humbling yourself when you commit a mistake. ■
B6 Wednesday, December 23, 2020
Oman Air receives five star rating from APEX
Savor the holidays with feasts from Richmonde Hotel Iloilo
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MAN Air, the national carrier of the Sultanate of Oman, has earned a Five Star rating in the Major Airline category from the Airline Passenger Experience Association (APEX). The prestigious award from APEX, a globally recognized organisation, was given to less than 10 per cent of the world’s airlines. This recognition makes it clear that everyone who works for Oman Air is focused on delivering world-class service, said Oman Air CEO Abdulaziz Al Raisi. “From our cabin crew to our pilots and everyone on the ground, there is a commitment to set industry-leading standards”, he said. “We’re proud to accept this award on behalf of everyone who works for Oman Air; our people created this success”. To determine the award winners, flights were rated by passengers across nearly 600 airlines from around the world. Airlines are ranked in Global, Major and Regional categories, based on their size. The ratings were independently certified by a professional external auditing company.
Reaching the ratings pinnacle is a major milestone, said Dr. Joe Leader, CEO, APEX. “Oman Air’s product advancements have clearly resonated with their customers to make them an APEX Official Airline Ratings 2021 Five-Star Major Airline”, he said. “Thousands of APEX independently verified passenger votes via TripIt have advanced Oman Air in the top singledigit percentage of over 600 airlines rated worldwide.
Bayer Philippines aided communities, farming families affected by Typhoon Ulysses CELEBRATE Christmas & New Year’s as you stay safe at The Granary’s Holiday Luxe Buffets.
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ICHMONDE Hotel Iloilo is gearing up for the season’s events with lavish buffet spreads and awesome takeaway menus so you can savor your Christmas and New Year’s feasts however and wherever you want. Safe dining has always been priority at The Granary, Richmonde’s all-day dining restaurant. And with the hotel’s Safe Stay program securely in place, you can enjoy the scrumptious fare at the Holiday Luxe Buffets worry-free. Serving up delectable dishes like roasted beef chuck roll, classic paella, sisig traingulo with beer sinamak, Cabatuan tablea pudding, and tender rib eye at the grilling station, The Granary promises a feast to remember on Christmas eve. To usher in the new year, a marvelous banquet awaits revelers—risotto balls stuffed with beef ragu and mozzarella cheese, duck ala manga, braised lamb with saffron-infused Middle Eastern rice, grilled Angus beef, Guimaras mango cheesecake with Cabatuan tablea and muscovado tuille, and a lot more. Adding to the opulence of these festive buffets are mouthwatering items that fill the Japanese, pasta and dessert stations, and the fresh meats available for a la
minute grilling at the open kitchen. The Holiday Luxe Buffets happen on December 24 and 31, from 6pm to 10pm and are priced at PhP 1,500 nett per person, inclusive of taxes. Children 6 to 12 years old get 50% discount while children 5 years old and below eat for free. Prior reservations are required due to limited seating capacity. If a cozy home celebration with the family is what you’re planning, no need to go through the trouble of cooking because with Richmonde’s Holiday Hotboxes, you can savor hot, freshly cooked gastronomic delights conveniently packed and ready to eat. For as low as PhP 900, get the Holiday Bento Hotbox, a single serving meal set complete with entrée, side vegetables, and flavored rice. The Holiday Hotbox Big Bites offers an even better deal with sets consisting of an entrée plus noodles good for two persons, at prices starting at only PhP 1,150. Craving for your favorite dishes from The Granary’s menu? Order the Holiday Platter Hotbox that serves four to five persons and get generous servings of popular items like BBQ pork spareribs, grilled boneless chicken, Middle Eastern mixed
grill, spaghetti ala Bolognese, fettucine carbonara, and even the Richmonde fried chicken (RFC) and spaghetti meatballs for the kids. Fill your noche buena and media noche spread with Richmonde’s special takeaway selections and with the innovative Hotboxes, you can heat up the food in an instant without taking it out of the box. Simply pull the string to release the steam and have a deliciously warm meal with absolutely no hassle. For those organizing e-gatherings but wishing they can raise the bar of Zoom Christmas parties, Richmonde also offers a new virtual event package for the holiday season with its Virtual Meets x Gourmet Eats + L.O.V.E. (Live On-request Virtual Entertainment). For as low as PhP 1,500 per person, get a packed Black Box lunch or dinner set (soup, salad, entrée and dessert), free delivery within Iloilo City, and a 30-minute virtual concert courtesy of the talented artists from The L.O.V.E. Project. For inquiries, table reservations, and takeaway orders, call Richmonde Hotel Iloilo at +63 33 3287888 or send an email to stay@richmondeiloilo.com. For virtual gatherings, call 0917-563 3973 or email sales@richmondeiloilo.com.
BNYP offers Santa’s Feast for the holidays
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REAT your family and friends with a special meal this Christmas with Brooklyn's New York Pizza Santa's Feast. It has a little something for everyone. The best seller, the White Pizza, is topped with cheese over cheese over cheese. A New Yorker's favorite, the Pepperoni Pizza, is topped with homemade pizza sauce covered with pepperoni and mozzarella cheese. The Pomodoro sauce cooked is kitchen and prepped with special blend of spices bringing out the best flavor when mixed with BNYP pasta. The White Shrimp, a cream based pasta is perfect for kids who enjoy a no- nonsense flavor profile. The 16-piece Buffalo Wings is marinated perfectly to make the chicken flavorful inside and out enough to share with everyone. Then there's three bottles of 1.5 Pepsi to help wash everything down. Call us now via these numbers to order: Alabang Town Center 0288509999 / 09190777061 Ayala Mall Feliz - 0282883004 / 09190777065 Madison Galeries Alabang Hills 0287889935 Chino Roces Makati 0288969696 / 09190777063 Robinsons Place Las Pinas 0285533555 / 09190777062 Tomas Morato – 0283767676 / 09190777064
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AYER is supporting communities impacted by Typhoon Ulysses in Luzon with a cash donation of Php 4 million to the Philippine Red Cross (PRC). “We recognize how this tragic event left thousands of families homeless and, for some, their source of income from farming stripped away. The support could add to PRC’s current efforts in distributing food & medicine and help communities get back to their normal lives,” said Vinit Jindal, Managing Director for Bayer Philippines, Inc. The PRC is one of the key organizations actively aiding families whose homes were either partially or totally damaged by flooding from the typhoon. “On behalf of the staff and volunteers of the Philippine Red Cross, we thank Bayer for the humanitarian aid. We will make sure that this goes directly to the most vulnerable families who are still
recovering from Typhoon Ulysses,” said PRC Chairman and CEO Senator Richard Gordon. “This act of generosity from Bayer clearly shows how the private sector is going beyond merely doing business by helping people in need during the challenging times.” Bayer has been active in the farming sector with its seed and crop protection products and technical assistance to help improve farm productivity & incomes. Bayer employees came up with their own donation drive for selected towns and they provided essential needs to bring hope for farming families situated there. On top of the Php 4 million donation from the company, employees were able to contribute more than Php 160,000 through its own fund campaign. For any inquiries, contact 09297158669 09171026734.
The future of OTT looks bright, business getting exciting with unique markets
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ITH audiences’ video viewing habits still unscathed despite changes brought about by technology in this modern world, the future of OTT looks bright and this business gets even more exciting. This is according to PopTV founder and CEO Jyotirmoy Saha during his talk at the recent 14th International Busan Contents Market. In OTT channels, content is delivered via an internet connection rather than through a traditional cable/broadcast provider In the session named “OTT as the future of TV,” Saha said: “In the OTT business, there are still a lot of unique markets that are yet to be served. We created a service that caters to niches, which is not just about content, but it’s also how you deliver, where you deliver and how you serve specific viewership and consumption habits." “Since free television had been the primary source of content in the Philippines, there remained large audience segments who remained underserved. We specifically serve audiences who’s choices will hardly ever find its way to free TV for one reason or the other,” he explained. Saha is also the founder of August Media Holdings and has been in the business of kids content for over a decade. POPTV, meanwhile, is a video-ondemand streaming platform for the Filipinos that offers a wide array of local content (blockbuster movies, indie films, classics) and tagalized international content that includes current Pinoy favorites such as
POPTV CEO Jyotirmoy Saha
KDramas, animes, BL series, asian movies, plus many more. To download, search for POPTV PINAS on Google Play and App Store. Users can avail its special introductory promo of P49 for 3 months that gives them all access to POPTV’s library of local content. Visit facebook.com/poptvph or www.poptv.ph.
BusinessMirror
Editor: Tet Andolong
Wednesday, December 23, 2020 B7
A primary alternative home At Tagaytay Highlands’ Asian contemporary-themed Horizon Terraces Garden Suites, luxurious five-story, low-density residential condos, the new year ushers in new beginnings in life. By Rizal Raoul S. Reyes
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@brownindio
INCE the time the pandemic hit the country, the concept of a home has drastically changed.
Aside from being a place of refuge, it has been transformed into a hub for work, study, and even business. The result was the growing demand for space as families stress kept of thinking how their domiciles can be capable of holding activities and at the same time still function as a haven at the end of a grueling day. Moreover, the typical upper middle to highend market wants their setting in
a suburban area that is just oneand-half to two hours away from the urban area. Tagaytay Highlands’ Asian contemporary-themed Horizon Terraces Garden Suites fits the need of families to have a spacious and idyllic home outside the metropolitan area. Moreover, moving to the luxurious five-story, low-density residential condominiums with stunning
At times of health crises such as a pandemic, having a primary home close to nature’s bounty promotes optimum mental health.
nature vistas all around is going to be a good start for families who want to have a good start for 2021. “After spending months quarantined indoors, the leisure development project people are raring to break free and move out of the congested metropolis. Settling down in the suburbs has suddenly become enticing,” the company said in a press statement. For one, Horizon Terraces Garden Suites’ 3.2 hectares provides an overall pleasant environment. A resident can view the placid Taal Lake. In the distance, the mythical Mount Makiling can be seen. For the golfing aficionados, the Midlands Golf Course is just nearby and the expansive Central Garden with over 70 percent of development dedicated to open space will en-
tice people to stroll and enjoy the serenity of the area. The leisure development project of the SM Group of Companies offer several benefits to future homeowners, its laid-back lifestyle ensures a pollution-free envionment and a breath of fresh air. Furthermore, each condo unit allows natural light and ventilation to flow into the home, enabling one to experience the best of nature even indoors. Watch the sun rise or set from balconies on the higher floors or engage in tranquil meditation in the ground floor units’ terraces. Horizon Terraces Garden Suites offers one- and two-bedroom units of 43 to 68 square meters designed to be an alternative primary home for the upper segment of
the market. “Its family-friendly leisure amenities let one finally know what work-life balance truly means. That is because minimal stress and a more relaxed pace boost one’s immunity and improve the cardiovascular system,” the company said. At times of health crises such as a pandemic, Tagaytay Highlands underscored the importance of having a primary home that is close to nature’s bounty promotes optimum mental health. “Each time one goes on ‘nature escapes,’ anxiety and worry give way to joy and optimism,” the company said. Being part of the Tagaytay Highlands community, Horizon Terraces Garden Suites homeowners and investors will also enjoy exclusive access to the first-rate golf
and country club. Moreover, there are challenging golf courses, the cable car, various sports facilities, and specialty restaurants. It also offers flexible payment terms to help investors protect their wealth and turn their property investments into real assets. To ensure the health of residents and investors, Tagaytay Highlands’ facilities are subjected to regular disinfection and that personnel strictly comply with safety protocols—hand sanitation, wearing of face mask and face shield, and social distancing—at all times. Meanwhile, the Tagaytay Highlands Property Management team is always ready to deliver its quick crisis response during natural and high-risk events.
Hotel Casiana opens its Big box retailer S&R on lessons gained in the pandemic doors with rooms at 50% off
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OWERING at 10 stories high, the imposing edifice of Hotel Casiana is now part of the Tagaytay skyline, with the hotel offering a peaceful and relaxing home for leisure and business travelers. The new hotel has 100 serene and cozy rooms of different comfortable and functional arrangements, whether it be a two-single bed, king couple bed, small to big family suites, all of which are deluxe with the finest amenities and upscale finishing, and features rooms with smart toilets. All these and more will surely please guests, whether they are with family, friends, or business associates. The pandemic has affected Tagaytay, a haven for tourism. But amid the challenges, Hotel Casiana is very optimistic in the business climate of the city. Thus, the opening Hotel Casiana is not only a proof of the trust and commitment to Tagaytay’s tourism opportunities and potentials, but is also the hotel’s “citizenship commitment” to provide employment to members of the sector affected by this health crisis. During the hotel’s socially distanced soft opening on December 18, Presidential spokesman Harry Roque lauded the hotel’s management for providing opportunities and employment to Filipino workers. “Tourism is very important as it provides jobs and income to our fellow men. For me, what Hotel Casiana is doing is very commendable as it helps Tagaytay on its way to recovery,” Roque said. He also led the ribbon-cutting ceremony, together with Representative Dr. Janette Garin, Hotel Casiana President Jerry T. Sy, Business Partner Anthony Li, and General Manager Aileen Lin. Hotel Casiana’s opening is also at its most opportune time with the holiday season. Your Christmas becomes merrier with an acrossthe-board half the room rate price. While it is the hotel’s utmost wish to welcome everyone, current health and safety protocols limit
its capacity. The hotel will strictly adhere to IATF guidelines and the local government’s strict implementation for both the hotel team and guests, such as wearing face masks and face shields, enforcing physical distancing, imposing age restrictions, monitoring of body temperature and the use of alcohol placed strategically in common areas. Hotel Casiana’s soon-to-open leisure and business amenities and services will include a full-service restaurant, a pleasant café, and a vibrant bar for night caps; a fully equipped gym and spa and a completely finished ready-to-use heated pool. But due to safety protocols, the pool is not ready to serve guests. Guests will appreciate the hotel’s elegant Scandinavian-inspired design—uncluttered, gracefully simplistic, functional, fully harmonious—which could already be previewed from its lobby up to its rooms. During the day, natural light comes in through full-height mirror walls, while at night, golden glow envelopes the welcome area courtesy of sleek warm lighting. All these features and amenities of the hotel are naught without guests remembering that during their stay, they were comfortably and securely served by the “benchmark of excellent service”—the Hotel Casiana’s brand of service.
ITH food and other household items on steady or even increasing demand as the public continues to spend most of their time at home, big box supermarket retailer S&R Membership Shopping (S&R) is riding the pandemic on a positive note. According to S&R President Anthony Sy, the year has brought the company to reexamine its operations while also realizing the returns of investing in strategic locations that ensured the constant flow of people who buy their goods. “Location has always been a main priority for us when picking a new spot for our branches. This year, we discovered how this factor really makes a difference in any business’s operational success,” he shared. With three of its branches located in Ayala Land Inc.’s (ALI) master-planned estates in Bonifacio Global City, Nuvali, and Circuit Makati, S&R was able to capture key markets that saw value in their product of-
fers and security in their spacious aisles in an era of face masks, face shields, and social distancing. Being at the center of integrated mixed-use developments also meant serving not only families living in the residential units or lots, but also office workers and other visitors who frequent ALI’s estate developments. As Colliers shared in their most recent report, supermarket retailers like S&R will receive the bulk of the public’s spending capacity as individuals and families focus on buying medicines, groceries, and food and beverage over other items or luxuries. With this expected economic pattern prevailing until next year, S&R can expect constant product demand and foot traffic from their stores’ strategic placements. Ayala Land Estates Assistant Vice President Cris Zuluaga noted how S&R’s presence in ALI estates enhances the livability and convenience for their buyers. Having a big box store affords residents, visitors, and workers in the area a reliable stop for
all their groceries and home essentials and thus increases the value of being located in an ALI property. “To us at Ayala Land Estates, our partnership with S&R greatly benefits the public because we are able to provide a diverse and integrated lifestyle experience that accounts for their every need especially at a time when convenience and accessibility are big considerations for many,” Zuluaga stressed. S&R’s footprint of stores with ALI estates also aligns with the expected next phase of development arising from the pandemic, as observed by Leechiu Property Consultants. According to the firm, there will be a surge in movement of people and businesses from Manila to the periphery, in light of density issues brought to fore by Covid-19. Dubbing real estate as a “store of value,” Leechiu Property Consultants views commercial investments especially in upcoming growth centers as a foothold in long-term growth especially in rising urbanized locales.
From this, Zuluaga added, “Our mixed-use developments outside of Metro Manila such as Altaraza, Vermosa, Nuvali, Alviera and Cresendo all offer exciting new possibilities for investors and locators who want to take advantage of being first movers in new and strategic locations. We maintain that real estate is still the best investment even at this time, especially when considering the capital appreciation expected from integrated mixed-use developments.” For S&R, their partnership with ALI is one they see unfolding continuously over time especially after seeing first-hand the upside of being part of master-planned developments. “The benefit of locating in a master-planned community is that you can set your expectations based on the development proceeding as planned. This typically works out to be in the best interest of all businesses. A well-thought out plan and an organized community tends to generate more traffic and interest from the public,” Sy said.
Home
Premium home label gives a toast of success to 10 years
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REVILLE is the kitchen appliance brand that delivers innovation based on consumer insights, empowering people’s potential to do things more impressively or easily than they’d thought possible in their own kitchen. Comfort and Mastery. For many of us, these are two things that were pushed at the forefront of our lifestyles as we tried to adjust to the changes 2020 has brought. As we spent most of our time at home, we became more attracted and acquainted with different hobbies and activities that could bring out some joy to an otherwise difficult year. For some, it was baking. Others explored their green thumbs. Many transformed from being kitchen novices to pros. As we explored and widened our interests, so came the need for many home partners that could support us in this phase. This is something that Breville Philippines, a premium home label brand exclusively distributed by IAJ Wellness Corp., made sure to deliver throughout the year as it celebrates its first decade in the industry. The brand, which is known for its first-rate kitchen products like the Barista Express, the Smart Oven Pro, and the Juice Fountain Max has dedicated its yearlong efforts to inspire kitchen mastery by providing the market with the best tools. A global heritage brand, Breville has championed culinary craftsmanship and
technological artistry with its products, event initiatives, and partnership with the best experts in the Food and Beverage industry. Among its most recent and highly successful events is the “Breville Virtual Coffee Hub” which invited the best chefs and baristas in the country to share their recipes and techniques with everyone. The free live Facebook event, which is open to all, talked about everything and anything about coffee and baking, and hosted several cooking and brewing challenges for event participants. Now that the year is almost over, the premium brand is closing 2020 strong by hosting a two-part virtual event as their last hurrah. “Bravo, Breville!” will serve as a holiday celebration for the brand and will be streamed live on Facebook in two separate events, on December 12 and 19, 3 p.m., respectively. The first part, “A Breville Christmas,” which streamed on December 12 features culinary masters Chef Waya Araos-Wijangco (Gourmet Gypsy Art Cafe), Chef Myke “Tatung” Sarthou (Simpol), and entertainment personality and coffee enthusiast Mikael Daez. In this session, participants learned how to make recipes perfect for their Noche Buena tables using some of Breville’s best products. The second part of the online event is the “House of Masters” and will feature more holiday-themed recipes and drinks from Breville’s
Host Kakki Teodoro, Chef Myke “Tatung” Sarthou and culinary master Chef Waya Araos-Wijangco
very own affiliated chefs and ambassadors. Joining the session is Chef Philip John Golding (Culinary Director of CCA Manila), Chef Louise Mabulo (Founder of The Cacao Project, Forbes under 30 Honouree), Chef Chad Joseph Datu (Breville Corporate Chef), Dave Dexter Dource (Academic Director-Philippine Chapter, Barista Guild Asia), and Chef Edward David Mateo (Owner, La Royale Patisserie Food Group). In addition to helping consumers become masters of their kitchen, Breville has always been focused on connecting with its community and inspiring them to start a healthier
lifestyle, too. Even as the year comes to a close, the brand promises to continue its efforts to champion mastery and creativity among its market. Keep up to date on more details of the event by following Breville’s official Facebook page at https://www.facebook.com/brevillephilippines/. Find out more also about their 10-percent off offers until December 31. Kitchen aficionados can also check out their Instagram https://www.instagram.com/breville_phils/ and https://foodthinkers.com.ph/ for more inspiration and recipes. Reni Salvador
Sports BusinessMirror
B8 Wednesday, December 23, 2020
NBA RETURNS
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HE National Basketball Association (NBA) found a way to get through last season amid a pandemic. Adam Silver sees no reason why the same cannot ring true again this season. Silver, the the NBA’s Commissioner, said Monday—one day before the new season begins—that he is confident the league’s health and safety protocols will allow teams to get through their planned 72-game regular season slates even as the coronavirus problem rages across the country and the world. He did, however, warn that he expects the virus to create some problems along the way. “I think we are prepared for isolated cases; in fact, based
on what we’ve seen in the preseason, based on watching other leagues operating outside a bubble, unfortunately, it seems somewhat inevitable,” Silver said. “We’re prepared for all contingencies.” Games could be postponed or canceled along the way, and Silver said that if the league encounters issues that cannot be controlled by what’s covered in the health and safety protocols suspending the season—just as was the case back on March 11, when the 2019-20 season was halted for four-and-a-half months—will again be a possibility. But the league, Silver vowed, will wait its turn to get players and others inside the NBA vaccinated against the coronavirus. “In no form or way will we jump the line,” Silver said.
Silver spoke on the eve of the seasonopening doubleheader—Golden State visiting Brooklyn and the Los Angeles Clippers playing against the defending champion Los Angeles Lakers. He said if the league didn’t believe in its plans, the season simply would not be starting. “We do anticipate that there will be bumps in the road along the way,” Silver said. Teams will play 10 fewer games than the customary 82-game slate. The season is starting two months later than usual and the playoffs are set to stretch into July, all with players and coaches being tested daily and with nearly 60 players having already missed some time with their teams during training camp and the preseason because of positive Covid-19 tests. And as was the case at Disney, social justice initiatives remain top priorities for the league,
Yulo’s rivals look beatable, for now
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CARLOS YULO poses with his medals.
F the Tokyo Olympics were held tomorrow, Carlos Yulo would be ruling the men’s floor exercise of gymnastics for a historic first gold medal for the Philippines in the Games of all Games. Yulo earned 70 points to share the International Gymnastics Federation No. 1 ranking in men’s floor exercise with Spain’s Rayderly Zapata, a significant progress from his world championships gold medal in the event in 2019. Yulo rose to No. 1 despite settling for two
bronze medals in the all-Japan championships that pushed through despite Covid-19 pandemic restrictions. Gymnastics Association of the Philippines (GAP) President Cynthia Carrion Norton said she is confident that Yulo will get better and peak when the Tokyo Olympics are held in July next year. “Caloy is in a good position. He never showed off anything in his last competition because we don’t want other country to read his moves,” Carrion Norton said. “We told Caloy to just take it easy and not to show off yet. Not yet.” A look at the credentials of the gymnasts shadowing Yulo in the world rankings is giving the 20-year-old world champion a strong
mirror_sports@yahoo.com.ph / Editor: Jun Lomibao
PBA’s Clark season a success
ADAM SILVER: We are prepared for isolated cases. AP
Silver said. The efforts will be different now—for example, “Black Lives Matter” is no longer painted onto game courts, a change from what was the case in the bubble. Buy the commissioner stressed that fighting racial inequality is no less important now than it was then. “I think there’s also been in a new awakening among the players in the league as to the impact they can have when they use the platforms they have to speak out on issues that are important to them,” Silver said. “So, I think it’s a combination of the collective action that the league will be taking together with its players and coaches, and on top of that players realizing the enormous reach they have with their voices.” The NBA currently expects only six of its 30 teams to open the season with fans in the stands, and no arena is planning to have
more than 4,000 ticketholders in the seats at this point. Smaller attendance means smaller revenue, and the league missed its revenue projection by about $1.5 billion last season— largely because many games were canceled and the bubble games, including the playoffs, were played without fans in the seats. Silver said playing another season without fans would mean NBA revenue would dip about 40 percent. “Tens of thousands of people rely on our league and its related businesses for their livelihoods,” Silver said. “We also feel a responsibility to our fans. People continue to look at sports as a break from the challenges of the pandemic and as a small reminder of what life was like before Covid-19.... It’s a piece of life I feel we’re able to get back, for the time being.” AP
chance at the gold medal. Zapata, 27, was a world and European champion in 2015, making him look ancient when the Tokyo Games are staged. He competed in the Rio de Janeiro 2016 Olympics but failed to advance to the finals. No. 3-ranked Kirill Prokopev of Russia (64 points), on the other hand, could only boasts of his gold medals at the 2017 (floor exercise) and 2019 (all-around) Summer Universiade. Artem Dolgopyat (60 points) of Ukraine could be Yulo’s worthiest opponent despite being ranked No. 4. He is the only other
gymnast in the top five who already qualified for Tokyo with a 2020 European championships gold medal and a silver medal each from the 2017 and 2019 world championships tucked in his belt. Fifth-ranked Milad Karimi (52 points) owns a floor exercise silver medal and a vault bronze medal from the 2019 Asian artistic championships in Ulaanbatar. He also clinched bronze in the horizontal bar in the 2017 Asian championships in Bangkok and another bronze in the Summer Universiade in Naples. Annie Abad
Gawilan, para athletes seek inclusion in Calamba bubble
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RNIE GAWILAN and his para athlete teammates are hoping to join Tokyo Olympics hopefuls who will train in a bubble facility at the Inspire Sports Academy in Calamba, Laguna. Gawilan is holed up in the Island Garden City of Samal, but couldn’t swim in open water nor in a swimming pool because the general community quarantine is in effect in the resort city. “I only do land training,” Galiwan told BusinessMirror. Land training includes push ups, sit ups, core strengthening and other drills. Gawilan, 29, is a veteran of the Rio de Janeiro 2016 Paralympics and has qualified for the Tokyo in Paralympics August next year. He earned his ticket to Tokyo in February after earning enough qualification points
highlighted by his 400-meter freestyle, 100-meter backstroke and 200-meter individual medley gold medals at the Jakarta 2018 Asian Para Games. “Right now, I am settling for improvised online training with my coaches here in our house,” he said. Samal Island officials insisted on implementing the GCQ to prevent the influx of tourists from neighboring Davao. Restrictions were eased but only momentarily, giving Gawilan a limited window to swim in open water. Gawilan said he hopes the Philippine Sports Commission—which got the InterAgency Task Force for the Management of Emerging Infectious Diseases’s approval for the Calamba bubble—would include para athletes in the program. “I hope all of us,” he said. Gawilan’s Coach Tony Ong told BusinessMirror that he has requested a P60,000 monthly bubble training budget for the para athletes—including Gary Bejino, Arnel Aba and Ronald Sabido—in La Consolacion in Pasig City, and are only waiting for the sports agency board’s approval. “As a national athlete, I would like to repay our government’s for being so kind that’s why I really wanted to return to training,” Gawilan said. The Tokyo Paralympics are set from August 24 to September 5 next year. Josef Ramos THE pool and beaches are closed so Ernie Gawilan is training on land.
Vogel as film fan Al Mendoza | alsol47@yahoo.com
THAT’S ALL THE National Basketball Association (NBA) is back on Wednesday after only a little over 71 days of rest. There will be no more bubble as the league gained health clearance to stage its games in their usual venues but still, minus the fans. It’s another test of toughness for the league that has, generally speaking, successfully survived the Covid-19 pandemic after completing its July 31 restart in Epcot (Disney World complex) near Orlando, Florida. There were about 48 cases of infection but none were reported serious after the October 12 conclusion of the championship won by the Los Angeles Lakers in a 4-2 Finals victory over the Miami Heat. The Lakers open defense of their crown Wednesday against the Los Angeles Clippers, boasting of a 4-0 record in the shortest preseason ever. Twice they beat the Clippers without LeBron James and Anthony Davis. But the Deadly Duo
were back when the Lakers defeated the Phoenix Suns back-to-back in Phoenix. In their fourth win, Davis fired a gamehigh 35 points and grabbed six rebounds in 30 minutes. James had 20 points and eight rebounds in 25 minutes spread over three quarters as the Lakers capped their 4-0 run by stealing a 114-113 victory from the Suns. They rallied from 21 points and relied on Quinn Cook’s go-ahead shot with 26 seconds left. Devin Booker topscored for Phoenix with 27 points as new recruit Chris Paul sat out on a sore ankle. In LA’s limited preparation, Coach Frank Vogel said he leaned heavily on films of their scrimmage “to teach” the Lakers. “This is a unique situation,” said Vogel. “It’s tough to deal with the new set-up, getting them [players] in the morning to the arena for practice.” Vogel said he learned a lot from their
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HE Clark bubble that hosted the Philippine Basketball Association (PBA) Philippine Cup for 72 days was a success, according to Deputy Chief Implementer of the National Action Plan Against Covid-19 Secretary Vince Dizon. “Conservatively, I’ll give it a 90 percent rating,” Dizon told Tuesday’s online Philippine Sportswriters Association Forum. “What’s important is that no one got sick.” Dizon said the PBA deserves more than just a passing grade after the league traverse its 45th season in the bubble. Barangay Ginebra won the championship in a five-game Finals with TNT Tropang Giga. Dizon said there were challenges along the way, but the PBA survived the test and got the job done. “That wouldn’t be possible without the cooperation and help of the PBA hierarchy led by Commissioner Willie Marcial,” Dizon told the session presented by San Miguel Corp., Go For Gold, Milo, Amelie Hotel Manila, Braska Restaurant and the Philippine Amusement and Gaming Corp. Marcial said everyone in the bubble followed the protocols set by the league and the Bases Conversion and Development Authority, which Dizon also heads. “Follow the protocols and you will never go wrong,” said Marcial, adding the league has yet to decide if it will hold its 46th season— tentatively set to start in April—will again be played in the bubble or use the moderate closed-circuit system where a house-gymhouse routine will be enforced. Dizon, who is also the OIC chairman of the Clark Development Corp., agreed that it’s still too early to say if the league needs to go through another bubble setup. But granting it does, Dizon said Clark is more than willing to help the league again.
ABUEVA
Abueva inks 3-yr, P14M contract extension with Phoenix
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ALVIN ABUEVA signed on Tuesday a threeyear contract extension with Phoenix Super LPG worth more than P14 million. “Yes, we signed up already,” Abueva’s long time player agent Danny Espiritu told BusinessMirror after they met Phoenix Super LPG team governor Atty. Raymond Zorilla at Phoenix’s Bonifacio Global City office in Taguig City. “It’s a P14 million contract and he’s very happy because he already has a livelihood program,” Espiritu added. Big man Jake Pascual also signed a contract extension while vastly-improved Justin Chua is negotiating for an extension with the Fuel Masters. Abueva returned to the Philippine Basketball Association during the Philippine Cup in the Clark bubble after serving a 17-month suspension for unsportsmanlike conduct on and off the court. The Fuel Masters reached the semifinals but lost to TNT Tropang Giga in five games. He averaged 19.4 points, 12.4 rebounds, 4.0 assists and 2.0 steals in the semifinals. Josef Ramos
three-day stay in Phoenix, with game films guiding his coaching all the way. “We haven’t had a shoot around or a practice, so it has been really important for us to learn things in the film room where we’ve had some success. What we talk about in our film is carried out onto the court.” Most coaches today lean so much on films usually prepared by video scouts, who now mostly occupy choice seats in many, if not all, NBA teams. Some NBA coaches are even former video scouts themselves before ascending as head coaches, including Vogel and Erik Spoelstra of Miami. Vogel paid tribute to his players’ undivided attention “at the film room” during all their preseason games. “We really dove deep into the film,” said Vogel. The basketball world is changing rapidly that video scouts have become part and parcel of NBA operations. Alas, we have but a handful of them in the Philippine Basketball Association (PBA). THAT’S IT Eumir Felix Marcial, still euphoric over his four-round unanimous decision win in his pro debut in Los Angeles, California, wants to resume his training in the US for the Tokyo Olympics in July—essentially rejecting calls for him to return to Manila and train under “Olympic style” conditions here. Now, that’s a problem. As the saying goes, one can’t serve two masters at the same time. Even a dog bows to just one boss.