BusinessMirror December 27, 2021 by BusinessMirror

Overseas Filipino Workers (OFWs) who are eager to spend Christmas

this could help prevent placing the country in another strict lockdown,

this newspaper, is for travel restrictions to be put in place swiftly and

quences on the economy.” See “Omicron,” A2

AHEAD OF LIBOR EXIT, DOF NATL GOVT BORROWINGS TWEAKS FUNDS BUILDUP FOR 10 MOS DIP TO P2.75T

w w

T T

By Bernadette D. Nicolas

Monday, December29,27,2021 2021Vol.Vol. No. 80 Monday, November 17 17 No.52

P25.00 P25.00 nationwide nationwide || 22 sections sections 18 20 pages pages ||

@BNicolasBM

Broiler raisers Omicron brace for risk spurs revival farm-gate of quarantine price plunge rules in PHL

By Bernadette D. Nicolas

HE Department of Finance is bracing for the possibility HE national that the interest rate market government’s may become gross unstable next year as the London borrowings as of Inter-Bank Offered end-October Rate (Libor)shrank is set to enter a phased by almost 6 percent process of cessation. @BNicolasBM

By Jasper Emmanuel Y. Arcalas

@jearcalas By Samuel P. Medenilla

L I

@sam_medenilla

OCAL broiler raisers are bracing for a further plunge in NTER NATIONA L concerns their farm-gate prices over the possible spread ofthis the Finance Undersecretary Mark side, on the multilateral ODA side, week as Filipinos veer away from more infectious Omicron CoDennis Y.C. Joven, who heads just in case the market becomes a chickenvariant meat prompted as the New vid-19 the Year govtheLatest DOF’s International Finance little bit choppy,” Joven explained draws closer. data from the Bureau of the ernment to reimpose mandatory Group, this that prompted them to Finance reporters. Elias Jose quarantine Inciong, United Treasurysaid showed the governfacility-based for all to frontload Official Development Libor, an interest rate benchB ro i l e r R a i s e r s in A sthe s o country. c i at io n ment’s gross borrowings during the arriving passengers Assistance (ODA)fell from mark used in a wide range of fi(Ubra) president, saidspokesperthe aver10-month period by multilateral 5.99 percent Acting Presidential lenders. nancial transactions, will enter a age farm-gate price of announced broiler fell from P2.92 trillion a year ago. son Karlo B. Nograles To minimize themonths overall financphased process of cessation beginby as muchthat as P30 kilogram With only two left for on Sunday the per Inter-Agency ing cost and to lengthen the tenor ning January next year. in the week ending December 10, this year, the latest figure is already Task Force for the Management of the government’s portfolio, Jo The transition away from Lisnapping a four-week increase equivalent to 89.6 percent of its of Emerging Infectious Diseases ven said they borrowing prioritizedprogram. going to bor, initially announced in 2017, that reached a high P115 per P3.07-trillion (IATF) suspended theofimplemenmultilateral ODAs, followed by bireached a crucial stage with the kilogram. Broken down, gross domestic bortation of its Resolution No. 150lateral then commercial March 2021 announcement by (s.2021), Inciong explained thatimposing the sudrowingsODA, fromand January to October A effectively borrowing. the United Kingdom’s Financial den plunge in farm-gate prices - two settled at P2.23 trillion, down by stricter protocols for all inbound 5.08 “For 2022, we have to consider Conduct Authority of the formal weeks before Christmas - is unusual percent from P2.35 trillion travelers. that globally, there is a change in timeline for the discontinuation andTounprecedented. in 2020. note, IATF Resolution 150the benchmark rates so from Libor, of the benchmark. He pointed that vaccinated this is now The bulk of the amount was A had allowedoutfully PEOPLE walk past the mural of Gat Andres Bonifacio at Manila City Hall Underpass. magmo-modify siya, magfo-fork siya See BusinessMirror’s earlier a “historic” drop since farm-gate sourced from Fixed Rate Treasury non-visa travelers from Green List The country willarticle celebrate the 158th birth anniversary of Filipino revolutionary [it will be modified, it will fork] into Explainer in Broader Look prices of broilers are usually Bonds (P1.19 trillion), followed by areas to enter the countrystrong withhero Gat Andres Bonifacio on Tuesday,of November various benchmark rates. I Bangthink Section on the implications the 30. ROY DOMINGO in the weeks to Christmas short-term borrowings from out the needleading for facility-based this may result in some instability Libor phaseout: https://businessand just crashes a week before new ko Sentral ng Pilipinas or BSP (P540 quarantine as long as they secure in the interest rate market in the mirror.com.ph/2020/09/10/ year due toReverse Filipinos’s belief in, isang billion), Retail Treasury Bonds/Prenegative Transcriptionnear term. That’s why we areRetail comlive-or-die-libor-phase-outkahig isang tuka. myo Bonds (P463.3 billion), Polymerase Chain Reaction (RTing in prepared and basically, as leaves-local-banking-sector “Far m-gate ices are prior now Onshore Dollar Bonds (P80.84 bilPCR) test withinpr72 hours you can see from the disclosures, with-lots-of-work-options/ ranging from P75 per kilogram lion). In the same period, there was to their departure. we up on ODA See “Libor exit,” A2 to “Except P85 perfor kilogram. Prices may By Jasper Emmanuel Y. Arcalas dating its registry following the them. This allows everyone to see programs as President Duterte alsohave a netbuffered redemption of the Treasury countries classified further collapse this week since @jearcalas enactment of the Coconut Farmwho are listed in the registry and if is expected to sign the industry Bills amounting to P43.94 billion. as ‘Red,’ the testing and quarantine Filipinos do eat chicken meat ers and Industry Trust Fund law. farmer doesn’t see his name then he development plan in early 2022. Net debt redemption means protocols fornot all inbound internaduring New Year,” Inciong told the ORE than 3 million Rosales explained that about shall coordinate with the PCA imRosales said the PCA will not there were more debts repaid comtional travelers in all ports of entry BusinessMirror. coconut farmers and 500,000 coconut farmers and mediately,” he explained at a recent stop updating its list of coconut pared to the amount borrowed durshall comply with the testing and “The skidprotocols may be averted if the workers are now regisworkers were added to the PCA’s dialogue with coconut farmers. farmers and enjoined them to reging the period. quarantine for ‘Yellow’ production loading a month ago is tered with the government’s reg2018 list that had about 2.5 million “On the other hand, if people ister in order to reap the benefits Meanwhile, gross foreign borlist countries,” Nograles said, citing lower than the demand since proistry, which serves as the basis coconut farmers and farm workers. would see names on the list and of the decades-long idled coconut rowings in the same period also the provision of IATF Resolution duction costs at that time were so for the number of people to be The PCA’s next step is to conthey think they are not coconut levy fund. “We will not stop at 3.1 contracted by 9.7 percent to P518.7 No. 151-A. By Ma. Stella F. Arnaldo star] quarantine hotels,” she exhigh,” he added. covered by the utilization of the duct an exclusion-inclusion profarmers or their details are incormillion. We hope that more indibillion from last year’s P574.4 billion. He noted Hong Kong, which has @akosistellaBM plained. Inciong local P75-billion coconut levy fund. cedure by making the updated rect, they can report it to the PCA viduals will register in our coconut This was raised through global confirmed aexplained case of thethat Omicron Special to the BusinessMirror In an advisory issued on Debroiler raisers have become Philippine Coconut Authority farmers’ registry public, providfor immediate action,” he added. farmers registry,” he said. bonds (P146.17 billion), program variant, will also fall under theconYel (P139.98 billion), euro-december 2021,Administrator the DOT-Na- Roel servative in their production due (PCA)22, Deputy ing everyone the opportunity to The PCA official noted that The updating of the coconut loans low list countries. HE Department Tourtional Capitalsaid Region to uncertain demand M. Rosales aboutwarned, 3.11 million check the veracity of the list, Rothe completion of the initial list farmers registry is mandated by nominated bonds (P121.97of billion), The suspension ofand the high rulesprofor ism (DOT) has issued a “[All] accommodation establishduction costs. coconut farmers and farm worksales added. of coconut farmers registry would Republic Act (RA) 11524 or the a project loan (P86.41 billion), and “Green List” countries will be in stern warning to quaranments in Metro partici However, he pointed out to it ers have beenManila registered with the “The list will be posted in public be just in time for the expected Coconut Industry Trust Fund Act. yen-denominated samurai bonds effect from November 28, 2021 tine hotels to only accept guests pating as quarantine facilities seems that current supply still government since it started upSee “3-M farmers,” A2 spaces where people can easily see rollout of coconut levy-funded (P24.19 billion). December 15, 2021. arriving from abroad,A2and not should strictly adhere to the outpaces Continued demand by consumers See “Borrowings,” on A2 allow the transfer of Covidminimum public health standespite the easing of mobility and positive individuals to their esdards enshrined in these issuquarantine restrictions, indicatn ances” US 50.4600 JAPAN 0.4374Taskn UK 67.2329 n HKflag 6.4722 CHINA 7.9013 n SINGAPORE AUSTRALIA n EU 56.5758 n SAUDI ARABIAing 13.4531 Source: BSP (November 26, 2021) by tablishments. of then Inter-Agency THE Philippine is seenn in front of a Philippine Coast Guard station, 36.8968 damaged bynTyphoon Odette, on36.2807 Pag-asa Island in the Spratly group of islands lower purchasing power “I am aware of certain hoForce for the Management of in the West Philippine Sea on Tuesday, December 21, 2021. The most powerful typhoon to hit the Philippine archipelago this year left over 300 dead Filipinos. tels which have been allowing Emerging Infectious Diseases, Continued on A2 and more than 50 missing, mostly in the central region, including nearly 100 dead in Bohol, according to officials. PHILIPPINE COAST GUARD VIA AP Covid-positive guests to transDepartment of Health/BoQ, and fer to their hotels after having DOT. already spent time in isolation The DOT also “[reiterated] facilities,” said Tourism Secrethat accommodated guests who tary Bernadette Romulo Puyat tested positive with Covid-19 in an interview with the Busiafter their mandatory RT-PCR nessMirror. She noted that a should be aptly reported to and By Malou Talosig-Bartolome away four ships that came from the ■ Jewel of the Seas (Royal Carib ■ American Queen number of them are balikbayans coordinated with the LGU (local US — three from southern Florida, bean) - 14 infected ■ Carnival Cruises’ Breeze, Con(homecoming Filipinos), who government units) and BoQ to HE US Centers for Disease where cruise passengers are not ■ Norwegian Breakaway (Norquest, Dream, Elation, Glory, Legwere found Covid-positive on facilitate proper extraction to Control and Prevention legally mandated to be fully vacwegian) - 20 infected end, Magic, Mardi Gras, Panorama, their fifth day of hotel quaranidentified isolation facilities.” (CDC) is investigating at cinated. ■ Carnival Freedom (Carnival) Pride, Radiance, Sunrise, Valor, tine. In these cases, the Bureau Romu lo Puyat st ressed, least 67 cruise ships, including Jim Walker, a US-based mari- undisclosed number Vista of Quarantine (BoQ) transfers “We’ve already given them [quarthose from Carnival, Norwegian time lawyer, reported in his blog ■ Queen Mary 2 (Cunard) - 10 ■ Holland America’s Nieuw Amthe Covid-positive guests to isoantine hotels] fair warning, but and Royal Caribbean cruise lines, at cruiselawnews.com that cruise infected sterdam, Nieuw Statendam, Rotlation facilities, many of them, they keep doing it. Let this be which employ thousands of Filipino lines, passengers and crew reported ■ MSC Seashore (MSC) - 28 interdam, Zuiderdam hotels that are rated three stars their final warning. These hotels seafarers for the increasing number these number of Covid cases in the fected ■ Carnival’s Emerald Princess, or lower, and thus not up to the don’t even think their employees of Covid-19 cases inside their ships. following ships: ■ Hal Koningsdam (Holland Regal Princess, Ruby Princess, Seausual standards of these balikmight get infected by the Covid Amid the outbreak of the Omi ■ Symphony of the Seas (Royal America) - 21 crew bourn Cruise, bayans. “That’s why they want positive guests!” cron variant in the United States, Carribean)- 48 infected Aside from these eight ships, ■ Walt Disney’s Disney Cruise, to transfer to the [four- or fiveSee “Hotels,” A2 port authorities in Mexico and oth ■ Odyssey of the Seas (Royal the CDC is also investigating the Disney Fantasy Continued on A2 er Carribean countries have turned Caribbean) - 55 infected following: year-on-year to P2.75 trillion.

OVER 3-M FARMERS LISTED FOR P75-B COCO LEVY FUND

HOTELS-AS-QUARANTINE M ON THE SLY REAP D.O.T. IRE

PESO EXCHANGE RATES

US CDC tracks 67 cruise ships for Covid

PESO EXCHANGE RATES n US 50.1180

n JAPAN 0.4382 n UK 67.2233 n HK 6.4265 n CHINA 7.8684 n SINGAPORE 36.9003 n AUSTRALIA 36.2955 n EU 56.7937 n SAUDI ARABIA 13.3484

Source: BSP (December 24, 2021)

News

BusinessMirror

A2 Monday, December 27, 2021

Law on department for OFWs signed Dec. 28–TUCP chief

By Samuel P. Medenilla

@sam_medenilla

HE law creating a new department to manage overseas Filipino workers (OFW) may finally be signed by President Duterte, according to the Trade Union Congress of the Philippines (TUCP).

In a virtual forum last Sunday, TUCP president Raymond C. Mendoza announced he was informed by the Presidential Legislative Liaison Office (PLLO) that the bill creating the Department of Migrant Workers (DMW) will be signed on December 28, 2021. “The signing will continue and it will be in Malacañang. There is no time yet, but it is going to be on the 28th that is why I will be leaving tomorrow to attend the sign-

Hotels..

ing ceremony,” the representative of the TUCP party-list group said. The tentative schedule was also confirmed by Senator Christopher “Bong” T. Go. “I hope it could be [signed] on December 28 since I was the one who authored it since it is meant to be a gift for OFWs,” Go told BusinessMirror in a Viber message. The creation of the new department consolidating government agencies which deal with OFW af-

fairs was among the commitments made by Duterte during his previous State of the Nation Address (SONA).

Transition committee

AMONG the agencies expected to be absorbed in the DMW are these attached offices of the Department of Labor and Employment (DOLE): Philippine Overseas Employment Administration (POEA), Philippine Overseas Labor Offices (POLO) of the, National Reintegration Center for OFWs (NRCO), and National Maritime Polytechnic (NMP). It will also include the Office of the Undersecretary for Migrant Workers’ Affairs (OUMWA) of the Department of Foreign Affairs (DFA), and the office of the Social Welfare Attache (OSWA) of the Department of Social Welfare and Development (DSWD). Mea nwh i le, t he O versea s Workers Welfare Administration (OWWA) will serve as an attached agency of the new department. ping my name,” she said.

Continued from A1

While the DOT chief declined to identify the hotels, industry sources said one consistent violator is a 5-star hotel based in Makati owned and managed by Filipinos, and with branches in

key tourism destinations. “I found out because the BoQ told me that they will allow the transfer if I give my consent. Some of these Covid-positive guests think they can get away by drop-

Hotels are full

AS this developed, the DOT said hotel quarantine facilities are currently running at full capacity. Per BoQ data, 512 hotels with 55,572 rooms in Metro Manila are being used as quarantine facilities for

Mendoza said the bill will not include the Commission on Filipinos Overseas (CFO) of the Office of the President. The principal author of the House of Representatives (HOR) version of the bill said among the agencies, POEA is expected to serve as the “core” of the newly created agency. He said a two-year transition will be implemented by a transition Committee to include the Department of Migrant Workers Secretary, the head of the affected agencies. Among the tasks of the committee will be to “rationalize” the workforce for the new department and determine the budget for its operations. Workers who will be displaced during the transition will be given separation benefits under the Government Reorganization Law and other similar laws, according to Mendoza. “We are looking at the end of the transition period by 2023,” Mendoza said.

returning overseas Filipinos like balikbayans, and overseas Filipino workers (OFWs) visiting their families for the holidays. Of the total rooms available, 54,205 are currently occupied as of December 21, 2021, indicating a 97-percent occupancy rate. For hotels dedicated to balikbayans, the data show 351 hotels with 37,684 rooms in Metro Manila. Only 651 rooms remained available as of December 21, indicating a 98-percent occupancy rate. Seven hotels are being used as Covid-19 isolation facilities. Of the 1,270 rooms in their inventory, only 97 rooms occupied, indicating an occupancy of 9 percent. Guests staying at quarantine hotels who test positive for the virus are immediately transferred to BoQaccredited isolation facilities.

Owwa gets addl funds for hotel quarantines

MEANWHILE, the Philippine Hotel Owners Association (PHOA) expects more payments for its members from government for the quarantine stays of OFWs. In a statement sent by Viber, PHOA President Arthur Lopez said, “We have just received information from Overseas Workers Welfare Administration [Owwa] Administrator Hans Leo Cacdac that the Department of Budget and Management already released P1.7 billion as additional funds for Owwa.” Lopez added, “Owwa will be releasing the payouts on past due accounts of hotels starting this week.” He declined to say how much Owwa owed PHOA quarantine hotels, although in previous cases, past due accounts reached P250 million. The PHOA president earlier expressed concern that Owwa funds to pay for the quarantine stays of OFWs would run out by yearend, although he was still optimistic the government agency would eventually catch up with its payments. (See, “Owwa funds for quarantine hotels running out at yearend,” in the BusinessMirror, December 14, 2021.)

www.businessmirror.com.ph

US CDC tracks 67 cruise ships for Covid Continued from A1

Symphony ■ MSC Cruises’ MSC Divina, MSC Seashore, Norwegian Bliss, Norwegian Encore, Norwegian Epic, Norwegian Escape, Norwegian Gem, Norwegian Joy, Riviera, Seven Seas Explorer, Seven Seas Mariner ■ Royal Carribean Celebrity Apex, Celebrity Edge, Celebrity Equinox, Celebrity Millennium, Celebrity Reflection, Adventures of the Seas, Allure of the Seas, Anthem of the Seas, Freedom of the Seas, Harmony of the Seas, Independence of the Seas, Liberty of the Seas, Mariner of the Seas These cruise ships were given yellow color codes by the US CDC which means Covid-19 cases have been reported in less than 0.10 percent of passengers (e.g. if 6,500 passengers are on board—7 or more passenger cases meet CDC’s investigation threshold) or 1 or more cases reported in crew. In a statement, the Royal Caribbean International said they require travelers 12 and older to have two doses of Pfizer or Moderna vaccine or one dose of Johnson & Johnson vaccine, except for medical or religious reasons. In its Symphony of the Seas, 48 passengers and staff tested positive,

IN terms of commercial borrowings, the government has raised a combined total of P292.33 billion from offshore bond issuances this year. Broken down, P121.97 billion was raised through its first-ever triple-tranche euro-denominated bonds, P24.19 billion from t hree -yea r zero - coupon yendenominated samurai bonds,

98 percent were vaccinated under those guidelines. Odyssey of the Seas had 55 infected crew and passengers which they said is 1.1 percent of the 5,000 onboard community. “The cruise sailed with 95 percent of the onboard community fully vaccinated,” it said in a statement. Carnival Freedom, which also came from South Florida, had an undisclosed number of passengers and crew who caught the virus. Holland America’s Hal Koningsdam had a “small number of fullyvaccinated crew” who tested positive and showed “mild or no symptoms.” They were not allowed entry into Puerta Vallarta in Mexico and the ship is now en route back to San Diego. The Department of Foreign Affairs said it has not received any report of Filipino crew infected by Covid from these cruise ships being investigated by CDC. It was estimated that before the pandemic, 30 percent of workers on board cruise ships are Filipinos. Thousands of Filipinos working in cruise ships were repatriated during the first wave of the Covid-19 outbreak in 2020. Historically, the virus spreads between people in close quarters aboard ships far more easily than in other settings.

Broiler raisers brace for farm-gate price plunge Continued from A1

Since production costs have increased consistently in recent months due to more expensive feed materials like soybean as well as dayold chicks, the break-even cost for broiler raisers now ranges from P88 per kilogram to P95 per kilogram, Inciong said. “Demand is not there. There is really an imbalance between the supply and demand,” he said “Production was already low and we thought we would be okay since we hit P100 per kilogram already. We thought it would stabilize at that level,” he added. Inciong noted that even farms that are fully commercial, which buy everything from feed to day-old chicks, are losing at prevailing prices. Latest Ubra price monitoring

reports showed that the average price of regular-sized broilers (1.5 kilograms to 1.69 kilograms) as of December 24 was at P85.5 per kilogram, from an average of P110 per kilogram in the week ending of December 10. In a separate interview on Saturday evening, Inciong said they have seen sudden spikes in the farm-gate prices of broilers. However, Inciong noted that they cannot pinpoint yet the reasons behind the increase a day after the December 24 decline. “Not sure if it is a trend or a fluke. It’s messy,” he said. “We have to see how it unfolds. This is unusual. It is possible that there is a fragility in both supply and demand that any sizable movement in both causes farm-gate prices to wildly swing in either direction,” he added.

Odette a super typhoon? Not quite, says PAGASA Continued from A10

Two other international weather forecasting agencies were predicting a supertyphoon strength. Hawaii-based Joint Typhoon Warning Center, which monitors the weather in the Pacific and Indian oceans for the US Department of Defense, estimated Rai as a Category 5 Hurricane. The Japanese Meteorological Agency (JMA) measured Rai’s windspeed and estimated it as a Category 4. Both JT WC and JM A used Saffir-Simpson Hurricane Wind S c a le — J T WC a n a ly z i ng t he strength based on one-minute average, while JMA was calculat-

Libor exit... Offshore bonds

■ Genting Hong Kong’s Crystal

Continued from A1

and P146.17 billion from dualt r a nc he dol l a r - de nom i n ate d global bonds. For the second year in a row, the government did not issue renm i nbi- denom i n ated panda bonds. While Joven did not categorically reveal the menu of offshore bond issuances that the national government is eyeing to offer next year, he said they will consider the overall financing cost, swap rate,

ing based on 10-minute average. “Either way, Rai was a monster of a storm,” accuweather.com stated in its report. Gonzalez said scientists will debate in the coming months Super Typhoon Odette’s monster strength formed at the end of the year, its attribution to the climate change and its impact to the most vulnerable countries like the Philippines. But for now, he stressed, what is important is to address the immediate needs of 2.4 million most vulnerable Filipinos in the six affected regions. “The trajectory of needs and the required scale of the response paint a dire picture,” he added.

and tenor. The finance official also pointed out that for 2020 and 2021 they were able to take advantage of good rates, even for the euro-denominated global bonds which became their first offshore bond issuance for both years. “At that point, interest rates were low for euro, so doon tayo nauna [that’s where we were first] and basically demand was robust,” he said.

Economy BusinessMirror

www.businessmirror.com.ph

Red Cross sends more water tankers to Siargao

HE Philippine Red Cross (PRC) has provided water tankers and water bladders to typhoon-stricken Siargao island. Senator Richard Gordon, chairman and CEO of PRC, said the Red Cross will also send fully-operational hospital tents. These hospital tents are equipped with cots and medicines and are manned by PRC’s army of trained volunteers together with its medical corps comprising of doctors, nurses, and other medical allied personnel. “Above anything else, the people in Siargao need clean water! Kung walang malinis na tubig, kakalat ang iba’t ibang sakit [If there is no clean water, the diseases will spread]. I’m sending more water tankers and water bladders to the

island. We at the Red Cross understand that it is critical to prevent and control infectious diseases after natural disasters,” said Gordon who has been in the forefront of the country’s disaster response for decades. Beyond damaging and destroying physical infrastructure, Gordon said typhoons such as Odette can and will lead to outbreaks of infectious diseases if not quickly acted upon. The PRC noted as that Siargao deals with the aftermath of Odette, the death toll may rise exponentially if adequate actions to fix the shortage of clean water are not done immediately. That is why the Red Cross is moving mountains to make it happen, he added. Claudeth Mocon-Ciriaco

Editor: Vittorio V. Vitug • Monday, December 27, 2021 A3

‘Proposed 2022 budget complies with Charter’

By Jovee Marie N. Dela Cruz

@joveemarie

LEADER of the House of Representatives on Sunday said she is hopeful President Duterte will sign into law the Congress-ratified P5.024-trillion national budget in its entirety. House Deputy Speaker Bernadette Herrera said the final version of the proposed 2022 General Appropriations Act, which has already been transmitted to the president for his signature, complies with the Constitution, thus reducing the chances of a veto.

“The GAB [General Appropriations Act] was prepared with the constitutionality of every provision in mind, and we are confident PRRD won’t veto its provisions, especially those related to Covid-19 response,” the Bagong Henerasyon representative said. Herrera was a member of the

House contingent to the bicameral conference committee that worked on the reconciled version of the national budget for 2022. Herrera said the 2022 national budget tried to cover all of the requirements that will arise as part of the response to the Covid-19 pandemic. “Next year’s national budget includes appropriations for benefits and compensation for health care workers, hiring of human resource for health emergency, laboratory network commodities, free Covid-19 tests for jobseekers, procurement of vaccine booster shots, hiring and training of contact tracers, among others,” Herrera said. “Most, if not all of these, were not funded in the National Expenditure Program or the original budget document submitted by Malacañang to

Congress,” she added. Both the Senate and the House of Representatives had already ratified the report approved by the bicameral conference committee co-chaired by Senator Juan Edgardo M. Angara and Representative Eric Go Yap. The ratified version is only awaiting the president’s signature. The proposed 2022 P5.024-trillion GAA is the last national budget to be enacted under the Duterte administration. With the theme, “Sustaining the Legacy of Real Change for Future Generations,” the 2022 national budget is equivalent to 22.8 percent of GDP and is higher by 11.5 percent than this year’s national budget. For 2022, the government expects to generate P3.290 trillion in total revenues,representing14.9percentofGDP.

Govt troops brace for NPA attacks on 53rd anniversary ... Centino said the CPP had suffered “irreversible damage” as the military gains tactical and strategic victories against the rebels. “The CPP has nothing to celebrate on its December 26 anniversary. The year 2021 was the

most successful period in our fight against insurgency,” he said, adding that they have already reduced the capabilities of the NPA through the neutralization of its top leaders, dismantling of 21 guerrilla fronts and the weaken-

ing of 14 others. Centino said at least 340 conflictaffected barangays were cleared, causing the surrender of rebels and the withdrawal of support by their mass bases. “This year, the CTG (communist

terrorist group) has suffered irreparable damage in its leadership, strength and resources, and the government’s accomplishments have placed us in a better position to end the local armed conflict by next year as mandated by the President,” the

chief of staff said. “The AFP is confident that it can comply with the order to put an end to insurgency before the term of the President ends, and finally bring lasting peace and development in the countryside,” he added.

continued from a10

The CPP vowed to lead the NPA in waging extensive and intensive guerilla war and expand its guerilla fronts by building new fronts and subregional areas to widen the rebels’ areas of operations and stop the government’s campaign.

The Nation BusinessMirror

A4 Monday, December 27, 2021 • Editor: Vittorio V. Vitug

Govt tracks gastro outbreaks in typhoon-affected communities F

www.businessmirror.com.ph

BBM pledges to boost relief for typhoon Odette victims

By Rene Acosta

@reneacostaBM

OME residents in provinces in Mindanao devastated by Typhoon Odette have fallen ill to diarrhea and two have already died of the disease, the government said on Sunday as it continued to assist the millions of people affected by the typhoon, including in the Visayas. “We received [reports of] two deaths in Surigao del Norte, but these are subjects for validation,” said Eisha Mariano of the National Disaster Risk Reduction and Management Council (NDRRMC). She said they are in the process of coordinating with their office in the region while the Department of Health (DOH) is undertaking assessments.

Mariano said that they also received reports about reported cases of acute gastroenteritis in Cagdianao, San Jose and Tubajon in Dinagat Islands and Del Carmen in Surigao del Norte. “As per DOH region, there are also already admissions in hospitals and teams have been deployed in areas for assistance. The deliv-

DOH logs 433 new PHL Covid infections By Claudeth Mocon-Ciriaco @claudethmc3

HE Covid-19 cases in the country reached 2,838,640 on Sunday after the Department of Health (DOH) logged 433 additional infections. There were also 283 recoveries and 13 deaths. Of the total number of cases, 0.3 percent (9,522) are active, 97.9 percent (2,777,918) have recovered, and 1.80 percent (51,200) have died. Of the 433 reported cases, 392 (91 percent) occurred within the recent 14 days (December 13-December 26, 2021). The top regions with cases in the recent two weeks were National Capital Region with 192 or 49 percent, Region 4A (45 or 11 percent), and Region 3 (33 or 8 percent). Of the 13 deaths, 5 occurred in December 2021 (38 percent),

3 in October 2021 (23 percent), 2 in September 2021 (15 percent), 1 in July 2021 (8 percent), and 2 in March 2021 (15 percent). Five duplicates were removed from the total case count. These 5 are recoveries. In addition, 169 cases were found to have tested negative and have been removed from the total case count. These 169 are recoveries. Moreover, 9 cases that were previously tagged as recoveries were reclassified as deaths after final validation. Two laboratories were not operational on December 24, 2021. Also, six laboratories were not able to submit their data to the Covid-19 Document Repository System. Based on data in the last 14 days, the 8 non-reporting laboratories contribute, on average, 0.7 percent of samples tested and 0.9 percent of positive individuals.

ery of logistics to Surigao City and Dinagat Island is continuing,” she said. As of Sunday, the NDRRMC reported that the death toll from the typhoon was already 387, of whom 59 have been confirmed and validated. Another 742 people were also injured while 50 are still missing. Odette affected at least 1,012,997 families or 3, 952,880 people in 5,908 barangays in Regions 4B, 5, 6, 7, 8, 9, 10, 11 and 12, and in Caraga and the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM). The NDRRMC said at least P3.9 billion worth of agriculture products were also lost along with P16.5 billion worth of infrastructure projects. At least 478,953 houses were damaged or destroyed. Meanwhile, power supply has been restored in 150 cities and municipalities out of the 281 cities and towns that lost power due to Odette while 281 cities and municipalities are still experiencing communication outage.

Energizing communities

IN Bohol, Col. Gerry Besana of the Armed Forces Visayas Command said the government has targeted to energize about 20 to 30 percent of the province until the end of the year following a meeting between officials led by Energy Secretary Alfonso Cusi and Governor Arthur Yap. “It will take a month to restore the power supply coming from the grid. Hopefully, that will be by the end of January. Plus, they have to repair the distribution lines,” said Besana, who was present during the meeting. “The challenges, sustained supply of diesel, transport of repair materials coming from Luzon and availability of repair crews from other electric cooperatives,” he added. Besana said the phone signal in Bohol is already strong while air travel via the airport in Panglao is already regular although the military still has no direct contact to the northeastern part of the province, which still has no power.

ORMER senator Ferdinand “Bongbong” Marcos Jr. on Saturday pledged to double down on relief efforts and continue sending aid to people affected and displaced by Typhoon Odette. “My supporters will continue scouring the remote areas in the provinces that were badly hit by the typhoon to bring the necessary assistance. We will not stop helping them until such time that they will be back on their feet,” Marcos said. In an interview on DZRH on Friday, the presidential aspirant had promised to visit the victims in other provinces, "as the reports of the extent of the devastation in their areas came in late because of poor communications.” “Hindi pa maaring pumunta sa malalayo. Kailan lang lumabas ang balita sa Palawan, medyo mabigat ang tama kaya’t nagpadala na kami ng barko na may dala na mga relief goods para sa mga biktima ni Odette at sasalubungin namin dahil hindi pa yata pwede lumipad ngayon. [It’s not yet possible to reach some areas. We just got the reports on Palawan. It was badly hit so we sentaboatloadofreliefgoodforOdette’s victims. I think it’s not yet possible to go by air now],” Marcos said.

Besides the problem of food, electricity, and other basic necessities, water has been a critical problem, he noted. “That’s why we sent almost 30 tons of water to various areas and a filtration kit. We are worried about a cholera outbreak, the bacteria, because of dirty water,” he added, speaking partly in Filipino. “From the lessons from Yolanda, water is the first thing. After sending food, water is a must and then construction materials. We must help those with destroyed homes to repair or rebuild,” Marcos said. He added that after restoring relative normalcy to victims’ lives, he said he will focus on helping them rebuild their homes. As with past challenges that the country faced, "we will persevere and come out of this stronger than ever," he promised in a statement. “It is my fervent wish this Christmas season that we continue to pray for good health and prosperity, and that God may give us the courage to stand as a united nation, because it is only through unity that we can get back on our feet as we move forward to a brighter future,” Marcos said.

Amid pandemic, Cimatu rallies DENR to extend help to typhoon survivors By Jonathan L. Mayuga @jonlmayuga

ECRETARY Roy A. Cimatu urged employees of the Department of Environment and Natural Resources (DENR) to come together and find ways to extend help to fellow Filipinos affected by Supertyphoon Odette. “This is an opportunity for those of us who were spared from the damage done by the Covid-19 and Typhoon Odette to commiserate with and assist the victims. I hope that you find it in your heart to extend help,” Cimatu said in a news statement. The DENR chief first made the call during the 2021 DENR Yearend Employees' General Assembly on December 22, 2021, which was held at the DENR Multi-purpose building. The event was also launched

online via Zoom. Some 1,600 employees attended the event with 300 on-site and 1,300 via Zoom. “During difficult times, we should come together and let the bayanihan spirit come to force,” he added. In appealing for support for the needy, the DENR chief highlighted the yearend assembly’s theme: “Patuloy na Malasakit at Pagtutulungan, Sagot sa Pandemya Ngayong Pasko.” One of the efforts of the agency is a donation drive for DENR employees whose families were severely affected by typhoon Odette. This will be led by the DENR Association of Career Executives (DENR-ACE), Kalipunan ng mga Kawani sa Kagawaran ng Kalikasan (K4), and DENR Employees Union (DENREU). Cimatu has already ordered the

DENR Executive Committee to ensure that support will be brought to the affected employees in Visayas and Mindanao. During the DENR Yearend Assembly, Cimatu turned over the cash donations to K4 on behalf of the DENR-ACE for the typhoon Odette relief efforts. The DENR, on the other hand, also donated the cash prizes intended for the event for the same cause. K4 national president and Land Management Bureau-DENREU president Atty. Elizabeth Alexandra Mary Pimentel has assured that updates will be provided on how the funds were spent in the affected areas. According to Pimentel, the K4—through its different chapters—is already "starting a donation drive in several areas of Visayas and Mindanao.

The DENR has mounted initial relief operations and vowed further assistance to communities hit hard by Supertyphoon Odette. To recall, Benny Antiporda flew to Siargao in the immediate aftermath of Supertyphoon Odette on December 19 to conduct an assessment and provide the first wave of aid to affected communities. The DENR chief has committed to providing cash assistance to affected communities and DENR employees in Siargao, Dinagat Islands, Cebu, Bohol, Palawan, and other typhoonhit provinces. “One thing that saddened me is the plight of the settlers within the shoreline that was badly hit,” Cimatu said. “With this, I will extend all my powers and privileges being the Secretary of the DENR. We will come to their rescue,” he added.

permanent, strong evacuation Manila City Hall’s iconic clock tower, ‘Make sites part of rehabilitation plan’ renovated view deck unveiled soon A L OCAL and foreign tourists are expected to flock to the City Hall’s iconic clock tower once all the renovations are finished and the view deck is opened to the public, Manila Mayor Isko Moreno Domagoso said at the weekend. Considered as the Philippines own version of London’s “Big Ben,” the historic clock tower underwent improvements as part of City Hall’s efforts to make it one of Manila’s premier attractions, he said.

The mayor was impressed with the materials used in the renovation of the viewing deck as this will attract more tourists both local and foreign. Comfort rooms were also constructed at the clock tower for use of visitors. Moreno inspected the clock tower recently. He was accompanied by Manila City Engineer Armand Andres as well as other city hall officials and employees. The 47-year-old presidential aspirant said the

Manila City Hall clock tower may be compared to that of the Old Post Office and Clock Tower located in Washington, D.C. “The view deck is great. I used to go to this old post office in Washington, and I got the idea from there. Of all post offices it is the tallest in Washington, D.C. You just ride a small elevator and from the top, you can see all Washington,” Moreno explained, partly in Filipino. He told Engineer Andres to put up a coffee shop for visitors. Even judges, fiscals, lawyers, and city hall officials and employees can also drop

by the place during break time or if they are not busy at work, he added. The Aksyon Demokratiko standard bearer also instructed the renovation team to put up information boards about the history of Manila so that visitors may also learn of the city’s very rich history. A space will also be reserved for painters and other artists to showcase their works. Moreno said an information board should also be put up telling about the history of the tower clock for better appreciation of the place. Meanwhile, he also plans a tourism package fopr visitors to the capital city, to include Manila Zoo, Jones Bridge, Lagusnilad, Kartilya (ng Katipunan), Mehan Garden, and Intramuros. The clock tower was designed by Antonio Toledo and was unveiled in the 1930s, was destroyed during World War II and rebuilt in 1946. The largest clock tower in the Philippines has one red-faced clock placed on its three facets. It is illuminated at night. The bell of the clock tower is rung three times then followed by a melody. The bells within the tower make a sound to mark the break time of Manila City Hall employees. The bells ring again at the close of business day.

SENIOR lawmaker on Sunday urged the Palace to include the construction of permanent and durable evacuation centers in government's six-month rehabilitation plan for provinces devastated by Typhoon Odette. Camarines Sur Rep. Luis Raymund Villafuerte made a statement after the Department of Social Welfare and Development (DSWD) reported that over 285,000 people or nearly 71,000 families spent their Christmas in a total of 1,204 evacuation centers across 10 regions affected by Odette. According to the lawmaker, the initial construction of these permanent evacuation centers can be sourced from the P10 billion that the Department of Budget and Management (DBM) said would be made available for the rehabilitation of Odette-ravaged provinces. “Rehabilitation should not only cover the reconstruction of typhoondamaged infrastructure, but should also consider adaptation measures to help safeguard people from future calamities,” Villafuerte said. “Building permanent, durable evacuation centers complete with the essential facilities that evacuees need is among the adaptation measures that the government should include in its six-month rehabilitation efforts in the Odette-

battered provinces in the Visayas and Mindanao,” he added. According to reports quoting Cabinet Secretary and Acting Presidential Spokesman Karlo Nograles, the Duterte administration last week committed to work “as fast as possible” to complete the rehabilitation of these typhoon-hit areas before the President steps down on June 30. President Duterte declared a state of calamity on December 21 in six Odette-battered areas, including Mindoro, Marinduque, Romblon and Palawan or Mimaropa, Western Visayas, Central Visayas, Eastern Visayas, and Northern Mindanao and Caraga. Earlier, Villafuerte welcomed the passage by the House of Representatives of a measure paving the way for the construction of such permanent evacuation centers across the country, especially in his disaster-prone home region of Bicol. He appealed to senators to immediately consider passing a counterpart bill in the Senate for the benefit of would-be displaced families in future natural calamities. Under House Bill 8990, the Department of Public Works and Highways (DPWH) will be in charge of building the evacuation sites, while local city and municipal governments shall be responsible for running and maintaining the centers. Jovee Marie N. Dela Cruz

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Editor: Jennifer A. Ng • Monday, December 27, 2021 A5

Traders get nod to buy 2 MMT of imported meat By Jasper Emmanuel Y. Arcalas @jearcalas

HE Philippines cleared the purchase of 2.1 million metric tons (MMT) of imported meat products in January to November, according to the latest data from the Bureau of Animal Industry (BAI). Data released by BAI recently indicated that the agency overseeing meat imports approved sanitary and phytosanitary import clearances (SPS-IC) covering 2.146 MMT of meat products. The volume approved was 88.95 percent higher than the 1.136 MMT covered by the SPS-ICs approved and issued by the BAI a year ago. Historical BAI data also showed that the volume greenlighted by the agency during the 11-month period has surpassed the 1.264 MMT approved in 2020. Traders are required to secure an SPS-IC prior to the importation of meat products. The document serves as proof that the imports are safe for consumption and won’t pose a threat to the health of the domestic animal population. BAI data showed that 49.16 per-

Number of hungry in Asia-Pacific swells by more than 50M–report

HE state of food security and nutrition in Asia and the Pacific has worsened, as more than 375 million people in the region faced hunger in 2020, an increase of 54 million over the previous year While hunger has increased, so too has inadequate access to nutritious foods, according to a joint report published by the Food and Agriculture Organization of the United Nations (FAO), and the United Nations Children’s Fund (UNICEF). The 2021 Asia and the Pacific Regional Overview of Food Security and Nutrition revealed that in this region alone, more than 1 billion people did not have access to adequate food in 2020—an increase of almost 150 million people in just one year. The high cost of a healthy diet, and persistently high levels of poverty and income inequality, continue to hold healthy diets out of reach for 1.8 billion people in the Asia and Pacific region. In recent years, progress has stalled in reducing the number of undernourished, and the prevalence of certain nutritional indicators, such as stunting in children under five years of age, was already much too high, as reported last year. Since then, the situation has worsened. While it is not yet possible to fully quantify the damage done to food security and nutrition by Covid-19, the pandemic has had a serious impact on the region. Even countries that initially reported a limited number of Covid-19 cases experienced the negative effects of the containment measures, combined with people’s health concerns, that led to a major contraction of economic activity in this region and worldwide. Disruption in food supply chains only added to the problems.

A way forward

THE situation could have been worse without the response of governments and the impressive social protection measures they put in place during the crisis. In building back better food environments, future agri-food systems will have to provide better production, better nutrition, a better environment and better lives. To do that, FAO and UNICEF state the focus must revolve around meeting the needs of small-scale, family farmers and indigenous people in the region. Food systems must also prioritize the dietary needs of vulnerable groups, including young children and women.

cent or about 1.055 MMT covered by the SPS-ICs were pork imports. The figure is more than double the 434,129.051 MT of imported pork approved last year. Figures from the agency also indicated that the bulk of the approved SPS-ICs for pork imports were for pork bellies and pork cuts at 581,474.169 MT. The government lowered pork tariffs this year for prime cuts of pork, such as bellies, to plug the shortfall in domestic supply and pull down prices. Manila also expanded its minimum access volume (MAV) program by 200,000 MT to allow the entry of more imports at lower tariffs. Pork imports within MAV are slapped lower tariffs compared to those that are brought in outside of MAV. BAI data also showed that the agency approved the importation of 743,039.522 MT of chicken meat products in January to November, of which almost 400,000 MT is mechanically deboned meat—a vital raw material used for making processed meat products. Actual meat imports that arrived

PORK chops are displayed for sale during the grand opening of a Whole Foods Market Inc. location in Burbank, California, United States, on June 20, 2018. BLOOMBERG NEWS

in the country in January to November expanded by 32 percent year-onyear to a record 1.09 MMT, according to BAI data. Historical BAI data indicated that the figure had already surpassed the 2020 volume of 894,698.528 MT by nearly 22 percent. Pork accounted for the bulk of the meat imports that arrived in the country during the 11-month period. Pork imports more than doubled to 520,932.058 MT from 231,140.247 MT recorded a year ago. The Philippines is expected to double its pork imports this year due to the shortfall in domestic supply caused by a deadly pig disease and changes to its tariff rate quota system, according to a report released by the United States Department of Agriculture (USDA). The USDA projected that the country’s pork imports could reach 350,000 metric tons (MT), or more than double the 167,000 MT it purchased last year. Also, the USDA said the Philippines’s hog production this year could decline by 10 percent as African swine fever continues to disrupt domestic output.

DA: Technical working group to help boost BARMM’s rice output

HE Department of Agriculture (DA) has formed a technical working group (TWG) that would oversee the implementation of various programs for increasing rice production in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM). The DA said the programs that will be implemented in vast rice production areas in the region would help improve the overall rice selfsufficiency level of the country. “The areas within and proximate to Kabulnan River Irrigation System (KRIS) in the municipalities of Datu Abdullah Sangki, Ampatuan, Mamasapano, Sultan sa Barongis, and Radjah Buayan, of the Maguindan-

ao Province, Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) have large areas devoted to irrigated rice,” according to DA Special Order (SO) 951. “These areas could be tapped to increase the level of self-sufficiency in rice as well as achieve the goal of increasing the income of farmers to make them prosperous.” The DA noted that there are “certain concerns” that must be addressed to boost rice productivity in BARMM. “Unfortunately, there are certain concerns that impede attaining a higher level of rice productivity in these areas such as high prices of agricultural inputs, availability and

accessibility to proper and quality machinery and equipment, lack of upskilled workers, and expensive value chain,” it said. “To achieve higher rice productivity specifically to attain a harvest of six (6) tons per hectare and aid the farmers along the value chain to realize higher income, the OneDA Approach shall be put to effect.” The TWG will be chaired by Agriculture Undersecretary Zamzamin L. Ampatuan and co-chaired by Agriculture Assistant Secretary for BARMM Dr. Sailila E. Abdula. Members of the TWG include DA-Regional Field Office 12 OICRegional Executive Director Den-

nis R. Arpia, Bureau of Soils and Water Management Director Pablo M. Montalla, and Philippine Center for Postharvest Development and Mechanization Director Baldwin G. Jallorina. The TWG will evaluate the rice production situation of KRIS and identify the strengths and weaknesses in the rice value chain of the area. The TWG will form a developmental framework for KCRP

Container shortage sparks coffee shipping experiment

BAGS of coffee beans at a processing plant. PHOTOGRAPHER: TOMAS AYUSO/BLOOMBERG

N the coffee trading world, a ship steaming across the Atlantic Ocean is garnering a lot of attention. A break-bulk vessel named Eagle has wound its way from Lampung in Sumatra, through the Mediterranean and is now headed for New Orleans. Transporting robusta coffee bags stacked in its hold to the United States—where roasters are starved of supply—it’s one of the first shipments of this kind in over 20 years. The ship is part of a burgeoning experiment in the industry where producers, roasters and traders are looking to leapfrog a global container shortage that’s causing an unprecedented backlog of shipments. “At the point when we were seeing shipments getting delayed, customers really struggling to get their supplies in time and getting access to coffee, that’s when we started to look at it,” Manish Dhawan, senior vice president for coffee at trading company Olam Food Ingredients, which chartered Eagle, said in an interview. “If you speak to some

of the older traders, it was the late 80s, or perhaps the early 90s, when they last did it, so this is really a new frontier kind of thing for us as well.” Staggered economic restarts during the pandemic and an acceleration of online buying has created an all-out fight for freight. That’s rendered shipping containers at best expensive for moving coffee, at worst unobtainable, adding fuel to prices propelled to decade highs by a shortage in Brazil this year. Olam expects roasters to start utilizing old-school shipping without containers more in the future. In a separate shipment on the Eagle, arabica coffee from Brazil was recently unloaded in Bremen. Other break-bulk vessels are also setting sail from Brazil’s Santos Port, where the world’s top arabica cooperative Cooxupe shipped 108,000 bags of coffee to Europe in a ship leased by a client early in December, according to commercial director Lucio Dias. The cooperative will handle two more cargoes of coffee bags without containers

in January. “We made an experiment as some clients have been adjusting to this new shipping modality to solve shipments bottlenecks,” Dias said in a telephone interview. “But it’s a complex operation.” Everything is harder handling bags compared with containers, from the inland transportation in the origin to the reception at the destination, as only some ports have adequate equipment to lift the bags from a vessel’s hold, he said. Typically, coffee is either poured in bulk into special containers, or bags are stacked inside containers for easier sea and rail transportation. Cooxupe expected to load its first break-bulk vessel with bags in two days, but it took more than five as the operation was disrupted by rain, Dias said. Costs were also higher than initially estimated, leading the cooperative to renegotiate the values of new shipments with its client. Dias expects the logistic bottlenecks to continue in the first half of 2022 as new isolation measures are adopted by different nations to fight the spread of Covid’s omicron variant. “Logistics are obstructed all over the world, and it will take a long time to undo this knot,” Dias said. Not everyone will be able to do these kinds of trades, which require a huge amount of coffee and are very capital intensive. But already market players are talking of break-bulk as a way of alleviating a bottleneck that has seen coffee pile up in Vietnam, the world’s biggest producer of robusta coffee. “I’m quite certain that people will be looking at it, we have heard of a couple of vessels being planned, and we are evaluating our options,” said Olam’s Dhawan. That could in turn impact prices, said Carlos Mera, Rabobank’s head of agricultural commodities research. Bloomberg News

and integrate all recommended actions into proposals for possible implementation. The TWG will also conduct regular meetings to properly oversee planning and implementation of the project. According to the Philippine Statistics Authority, BARMM produced an estimated 90,000 MT of rice as of the second quarter. Rainfed farms accounted for 65 percent of rice output during the period. Jasper Emmanuel Y. Arcalas

A6 Monday, December 27, 2021

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France posts record 100,000 new cases as Omicron rages

rance reported a daily record of more than 100,000 new coronavirus cases as President Emmanuel Macron weighs measures to contain the fast-spreading Omicron variant. Covid-19 cases totaled 104,611 on Saturday, according to data from the public health office, topping the 94,124 infections logged the previous day. The country reported 84 deaths. Macron, who is widely expected to seek a second term in April’s election, will convene his health defense council on Monday to discuss the coronavirus. The government intends to adopt a system requiring people to

be fully vaccinated to enter bars, restaurants and cultural venues starting as soon as early January to help slow the spread, government spokesman Gabriel Attal said Tuesday. Health Minister Olivier Veran predicted earlier this week that the Omicron strain will become dominant in France during the period from Christmas to New Year’s Day. Omicron has also driven cases to records in the UK and Italy. More than 16,000 people are currently hospitalized for Covid in France, including some 3,300 in intensive care. There have been more than 122,500 deaths. Key developments:

Italy posts daily case record

Italy recorded its most daily cases for a third straight day, as the government tightens coronavirus measures to slow the spread of the Omicron variant. The first country in Europe to move into lockdown last year reported 54,762 cases on Saturday, up from 50,599 a day earlier.

Queen says UK can still enjoy festive season

Queen Elizabeth II gave a personal message in her first televised Christmas Day address since the death of her husband, Prince Philip, saying the UK can still enjoy the festive

season even as a raging pandemic means not celebrating quite as freely. An estimated one in 10 Londoners is currently infected with Covid-19.

Turkey says Omicron makes up 10% of cases

The Omicron variant accounts for 10 percent of all cases found in Turkey’s major cities, Health Minister Fahrettin Koca said Saturday. He announced no additional measures, citing the lack of a significant increase in hospitalizations. The minister also renewed calls to get booster shots as the country stepped up its vaccination efforts.

Turkey started the mass production of its locally made Covid-19 jab Turkovac this week.

said, adding that people should not pay attention to rumors nor panic about rising infection numbers.

India to start vaccinating teenagers

Christmas travel chaos deepens

India will begin vaccinating teenagers from 15 to 18 starting on January 3 and administer booster doses for health-care workers a week later, Prime Minister Narendra Modi said. Citizens who are older than 60 and suffer from co-morbidities can also get booster shots in January, Modi said in a televised national address. “India needs to be vigilant about the spread of the coronavirus,” Modi

Airlines’ US flight cancellations neared almost 1,800 for the Christmas weekend, disrupting travel on one of the busiest periods of the year as the Omicron-fueled wave of Covid cases triggered air-crew shortages. Saturday’s pullbacks erased at least 10 percent of the schedule at Delta Air Lines Inc., United Airlines Holdings Inc. and JetBlue Airways Corp., according to data tracker FlightAware. com. The cuts on Christmas Day in the US totaled almost 900. Bloomberg News

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Report: Women, children among dozens killed by Myanmar troops B ANGKOK—Myanmar government troops rounded up villagers, some believed to be women and children, fatally shot more than 30 and set the bodies on fire, a witness and other reports said Saturday.

The purported photos of the aftermath of the Christmas Eve massacre in eastern Mo So village, just outside Hpruso township in Kayah state where refugees were sheltering from an army offensive, spread on social media in the country, fueling outrage against the military that took power in February. The accounts could not be independently verified. The photos showed the charred bodies of over 30 people in three burned-out vehicles. A villager who said he went to the scene told The Associated Press that the victims had fled the fighting between armed resistance groups and Myanmar’s army near Koi Ngan village, which is just beside Mo So, on Friday. He said they were killed after they were arrested by troops while heading to refugee camps in the western part of the township. The government has not commented on the allegations, but a report in the state-run Myanma Alinn

daily newspaper on Saturday said that the fighting near Mo So broke out on Friday when members of ethnic guerrilla forces, known as the Karenni National Progressive Party, and those opposed to the military drove in “suspicious” vehicles and attacked security forces after refusing to stop. The newspaper report said they included new members who were going to attend training to fight the army, and that the seven vehicles they were traveling in were destroyed in a fire. It gave no further details about the killings. The witness who spoke to the AP said the remains were burned beyond recognition, and children’s and women’s clothes were found together with medical supplies and food. “The bodies were tied with ropes before being set on fire,” said the witness, who spoke on condition of anonymity because he feared for his safety.

In this photo provided by the Karenni Nationalities Defense Force (KNDF), smokes and flames billow from vehicles in Hpruso township, Kayah state, Myanmar on Friday, December 24, 2021. Myanmar government troops rounded up villagers, some believed to be women and children, fatally shot more than 30 and set the bodies on fire, a witness and other reports said Saturday. (KNDF via AP)

He did not see the moment they were killed, but said he believed some of them were Mo So villagers who reportedly got arrested by troops on Friday. He denied that those captured were members of locally organized militia groups. Myanmar’s independent media reported on Friday that 10 Mo So

villagers including children were arrested by the army and four members of the local paramilitary Border Guard Forces who went to negotiate for their release were reportedly tied up and shot in the head by the military. The witness said the villagers and anti-government militia groups left

Thousands line up for ‘jingle jabs’ on Christmas in England

ONDON—T housa nd s of people across England are spending a few minutes of Christmas Day to line up under leaden winter skies to be vaccinated against Covid-19 as the Omicron variant fuels a surge in infections across the country. The Good Health Pharmacy in north London is one of dozens of vaccination sites that kept their doors open Saturday to administer “ jingle jabs” amid a government push to offer booster shots to all adults by the end of the year. Pharmacist Fenil Lalji said the shop’s owners decided to stay open because they lost a family member to the pandemic and wanted to do what they could to help others stay safe. “His family have obviously had a really hard time so his children wanted to make sure they could provide the maximum level of contribution to fighting this Covid virus,” Lalji told the BBC. “It was a very hard time for his family, and we’re just trying to make sure no one has to go through that.” Britain has expanded its booster program over the past two

People wait in line to receive a ‘Jingle Jab’ Covid vaccination booster injection at the Good Health Pharmacy, north London on Saturday, December 25, 2021. Thousands of people across England are spending a few minutes of Christmas Day to line up under leaden winter skies to be vaccinated against Covid-19 as the Omicron variant fuels a surge in infections across the country. The Good Health Pharmacy in north London is one of dozens of vaccination sites that kept their doors open Saturday to administer ‘jingle jabs’ amid a government push to offer booster shots to all adults by the end of the year. GarethFuller/PAviaAP

weeks, reopening sports stadiums and cathedrals as inoculation hubs, after research showed that two doses of the vaccine weren’t enough to protect against the high-

ly transmissible Omicron variant. Even as the National Health Service races to vaccinate as many people as possible, the number of confirmed infections soared past

100,000 a day last week for the first time during the pandemic. Health Secretary Sajid Javid on Friday urged people to “make the booster a part of your Christmas this year,” praised those who are working through the festive period to deliver the shots. “I would like to thank the tireless and selfless work of the NHS and volunteers for sacrificing time with their loved ones to deliver life saving jabs through Christmas Day and Boxing Day this year, and helping everyone to Get Boosted Now,” Javid said in a statement. The Omicron threat was underlined by data released by the Office for National Statistics, which estimated that 1.7 million people in the UK had Covid-19 in the week ending December 19, the highest number since comparable figures were first recorded in autumn 2020. While infection rates are rising, public health officials hope that widespread vaccination will limit the number of people who are hospitalized or ultimately die from Covid-19. AP

China reports most daily local infection cases since January

hina reported 158 new local transmitted coronavirus cases, the highest daily number of infections since last January, as an outbreak in Shaanxi province presents one of the government’s biggest challenges yet to its Zero Covid policy. Among the cases reported Sunday by the National Health Commission, 157 were found in the northwestern

Shaanxi province, and one person without symptoms was found in Guangxi province. The latest number of new daily local infections is close to the peak level from the wave in late January. Xi’an, the capital city of Shaanxi province known for its terracotta warriors, has become the latest hotspot in China, which has made eradicating the virus central to its Covid approach. China recently

punished local officials in the city for failing to curb an outbreak that led to the biggest lockdown since Covid-19 emerged in Wuhan and continues to spread after more than two weeks. The world’s second-largest economy remains mired in a protracted battle against the coronavirus as it prepares to host the Winter Olympics in February. While most of the world is now focused on the poten-

tial damage from the novel Omicron variant, China remains dedicated to the increasingly difficult task of containing the virus and restoring its Covid Zero status -- using stringent curbs, mass testing, quarantines and targeted lockdowns. China has been constantly battling outbreaks since mid-October, the last time it reported no domestic infections. Bloomberg News

the bodies as military troops arrived near Mo So while the bodies were being prepared for cremation. The fighting was still intense near the village. “It’s a heinous crime and the worst incident during Christmas. We strongly condemn that massacre as a crime against humanity,” said Banyar

Khun Aung, director of the Karenni Human Rights Group. Earlier this month, government troops were also accused of rounding up villagers, some believed to be children, tying them up and slaughtering them. An opposition leader, Dr. Sasa, who uses only one name, said the civilians were burned alive. A video of the aftermath of the December 7 assault—apparently retaliation for an attack on a military convoy—showed the charred bodies of 11 people lying in a circle amid what appeared to be the remains of a hut. Fighting meanwhile resumed Saturday in a neighboring state on the border with Thailand, where thousands of people have fled to seek shelter. Local officials said Myanmar’s military unleashed airstrikes and heavy artillery on Lay Kay Kaw, a small town controlled by ethnic Karen guerrillas, since Friday. The military’s action prompted multiple Western governments including the US Embassy to issue a joint statement condemning “serious human rights violations committed by the military regime across the country.” “We call on the regime to immediately cease its indiscriminate attacks in Karen state and throughout the country, and to ensure the safety of all civilians in line with international law,” the joint statement said. AP

On Christmas, Pope prays for Covid’s end

OME—Pope Francis prayed Saturday for an end to the coronavirus pandemic, using his Christmas Day address to urge health care for all, vaccines for the poor and for dialogue to prevail in resolving the world’s conflicts. Amid a record-setting rise in Covid-19 cases in Italy this week, only a few thousand people flocked to a rain-soaked St. Peter’s Square for Francis’ annual “Urbi et Orbi” (“To the city and the world”) Christmas address. Normally, the square would be packed with tens of thousands of holiday well-wishers. At least they could gather this year. Italy’s 2020 holiday lockdown forced Francis to deliver a televised address from inside the Apostolic Palace to prevent crowds from forming in the square. Although Italy this week counted more than 50,000 cases in a single day for the first time, the government has not ordered another lockdown. The pope’s Christmas Day speech gives him an opportunity to draw a global audience’s attention to conflicts big and small. This year was no different. Francis lamented ongoing conflicts in Syria, Yemen and Iraq, newly flaring tensions in Ukraine and Ethiopia, and an “unprecedented crisis” in Lebanon. “We have become so used to them [conflicts] that immense tragedies are now being passed over in silence; we risk not hearing the cry of pain and distress of so many of our brothers and sisters,” he said from the loggia of St. Peter’s Basilica as Swiss Guards stood at attention in the square below. Francis warned of the pandemic tendency to withdraw and isolate, urging instead dialogue to try to resolve the world conflicts. He prayed in particular for those most affected by the virus, including women and children who have suffered increased

abuse during lockdowns. “Son of God, comfort the victims of violence against women, which has increased in this time of pandemic. Offer hope to young children and adolescents suffering from bullying and abuse,” he said. He prayed for “consolation and warmth” for older adults who are alone, as well as for health care workers who “generously devote themselves” to caring for the sick. “Grant health to the infirm and inspire all men and women of good will to seek the best ways possible to overcome the current health crisis and its effects,” he said. “Open hearts to ensure that necessary medical care—and vaccines in particular— are provided to those peoples who need them most.” Francis delivered his speech hours after celebrating a “Midnight Mass” service for some 2,000 people, a fraction of the basilica’s capacity. The service actually began at 7:30 p.m., a nod to the 85-year-old pope’s endurance and a hold-over from last year, when the service had to end before Italy’s nationwide Covid-19 curfew. For the second day in a row, Italy on Friday set a daily pandemic record with 50,599 new cases. Another 141 people died, bringing Italy’s official death toll in the pandemic to 136,386. With the arrival of the Omicron variant in Italy, the Vatican secretary of state this week imposed a new vaccine mandate on Vatican staff, extending it to all employees except those who have recovered from Covid-19. Previously, only employees who dealt with the public directly had to be vaccinated, such as the staff of the Vatican Museums and the Swiss Guards. Other Vatican employees could access their offices with regular testing. Now, there is no test-out exemption. AP

Monday, December 27, 2021 • Editor: Angel R. Calso

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New Omicron variant: Bad news, good news

he bad news first: The world is being inundated by a tsunami of the new Omicron variant. The US government reported last week that 73 percent of new infections nationwide are from the Omicron variant. According to data collected by Johns Hopkins University, the seven-day rolling average for US Covid-19 cases climbed past 160,000, which is more than double the average in November. In the UK, The Guardian reported on December 24 that Omicron has infected one in 35 people across the country, and one in 20 in London. Based on random swab tests taken in the community, the Office for National Statistics estimated that almost 3 percent of the people in England had Covid between December 13 and 19. In Denmark, one of the countries reporting fast Omicron surges, infections are doubling every two days. Of the country’s Omicron patients, 75 percent were fully vaccinated, and 9 percent had received a booster shot. About 80 percent of the Danish population is fully vaccinated. Now, the good news: A South African study has suggested that the Omicron variant causes less severe illness than earlier variants. The study found that people who were hospitalized with Omicron in October-November were 70 percent less likely to develop severe disease than those admitted with Delta between April and November. “Compellingly, together, our data suggest a positive story of a reduced severity of Omicron compared to other variants,” said Professor Cheryl Cohen of the National Institute for Communicable Diseases, one of the study’s authors. Following the release of the South Africa study on Omicron, the US heeded the World Health Organization’s advice that travel bans risked doing more harm than good. The WHO issued the statement after dozens of countries around the world imposed travel restrictions targeting mostly South African countries in the week since the new variant was reported. In an advisory, the WHO warned the bans could ultimately dissuade countries from sharing data about the evolving virus. From the Associated Press: “The US will lift travel restrictions on eight southern African countries that it imposed to try to blunt the spread of the Covid Omicron variant, the White House announced Friday. The variant, which was first detected by scientists in South Africa, has since spread around the world. The World Health Organization and leaders in southern Africa criticized the travel ban as ineffective and unfairly damaging to local economies. The November 29 ban barred nearly all non-US citizens who had recently been in South Africa, Botswana, Eswatini, Namibia, Lesotho, Malawi, Mozambique and Zimbabwe. The restrictions will be lifted on New Year’s Eve.” White House spokesman Kevin Munoz said on Twitter that the decision was recommended by the Centers for Disease Control and Prevention. Munoz said the temporary travel bans bought scientists necessary time to study the new virus variant and conclude that the current vaccinations are effective in blunting its impact. The WHO is hoping that other countries will follow the US example; that all travel restrictions on South African countries will soon be lifted. A health expert said these travel bans are punishing south African countries and making them take the economic impact for doing a good job to help end the pandemic. Salim Abdool Karim, Director of the Center for the AIDS Program of Research in South Africa and a Professor of Global Health at Columbia University, said what these travel bans are saying to the rest of the world is that in the future, if you have good surveillance systems and you have in place the mechanisms to identify a new variant and to identify it early, then whatever you do, don’t tell the world, keep it secret. Let some other country do the announcement so that you don’t have to bear the burden of the reaction. As the world enters the second year of the pandemic, and as new variants emerge, a global effort is needed to fight the virus. Global leaders should start listening to the WHO, which has been urging countries to find ways to work together to solve the problem instead of building barriers by closing borders.

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What is our climate action plan? Atty. Jose Ferdinand M. Rojas II

RISING SUN

fter Typhoon Odette (international name: Rai) hammered central Philippines, the damages and losses are staggering. In the latest report by the National Disaster Risk Reduction and Management Council, Typhoon Odette affected 1.1 million Filipinos in 3,238 barangays, claimed 156 lives, and damaged houses, infrastructure, and agriculture amounting to P390,587,949. The typhoon also cut off power, water, and communication lines. At least 12 cities and municipalities were declared under a state of calamity. (Source: Climate Change Commission (CCC) Facebook page) Until now, there are places with no power, water, or telephone and Internet service. We heard that drinking water is being sold at absurd prices. Recovery will take time, which has always been the case, so sometimes we wonder why we never learn. In the midst of the destruction, help does not come fast enough. It’s a good thing that there are groups and organizations that are working

together to be able to bring relief to those who are in need. They still need our support, however, so if we have the means to help them we should not hesitate to do so. We can be sure that Typhoon Odette will not be the last one to bring extreme devastation to the country. Because of climate change, we should even expect the arrival of more powerful typhoons in the future, which is

Typhoon Odette serves as a powerful reminder of how extreme weather can destroy entire towns and cause extreme suffering and damage after just a few hours in our territory. While there is still a bit of time left, I hope that we would finally heed nature’s warning. why preparation is of utmost importance. Shouldn’t we—both the government and the citizens—be preparing now? The CCC explains: As the level of global warming continues to increase, these extreme weather events and other climate impacts are becoming severe, and may be irreversible, threatening to further set back our growth as a nation. The rise in temperature intensifies the water cycle, bringing more intense rainfall and associated flooding, as well as more intense drought in many regions. It is important to strengthen adaptation actions at the local level in order to build community resilience against extreme climate-related

events, says the CCC. Planting trees and propagating mangroves will be beneficial. We must also take our carbon emissions seriously and do everything to minimize or decrease our current levels—as an individual, as a family unit, as a community, and as a nation. CCC adds that national agencies and local government units must have stronger consideration of climate science in crafting policies and implementing projects and programs for our most vulnerable regions. Companies, businesses, and households have to be more aware of the specific climate risks and hazards in their area. A systems-wide transformation is necessary to climate-proof our future, if that is at all possible at this point. This transformation would require a shift in every aspect of planning and investing for development. Typhoon Odette serves as a powerful reminder of how extreme weather can destroy entire towns and cause extreme suffering and damage after just a few hours in our territory. While there is still a bit of time left, I hope that we would finally heed nature’s warning.

Desmond Tutu, South African equality activist, dies

By Andrew Meldrum | Associated Press

OHANNESBURG—Desmond Tutu, South Africa’s Nobel Peace Prize-winning activist for racial justice and LGBT rights and retired Anglican Archbishop of Cape Town, has died, South African President Cyril Ramaphosa announced Sunday. He was 90. An uncompromising foe of apartheid—South Africa’s brutal regime of oppression against the Black majority—Tutu worked tirelessly, though non-violently, for its downfall. The buoyant, blunt-spoken clergyman used his pulpit as the first Black bishop of Johannesburg and later Archbishop of Cape Town as well as frequent public demonstrations to galvanize public opinion against racial inequity both at home and globally. Tutu’s death on Sunday “is another chapter of bereavement in our nation’s farewell to a generation of outstanding South Africans who have bequeathed us a liberated South Africa,” Ramaphosa said in a statement. “From the pavements of resistance in South Africa to the pulpits of the world’s great cathedrals and places of worship, and the prestigious setting of the Nobel Peace Prize ceremony, the Arch distinguished himself as a non-sectarian, inclusive champion of universal human rights.” Tutu died peacefully at the Oasis Frail Care Center in Cape Town, the

Archbishop Desmond Tutu Trust said in a statement Sunday. Tutu had been hospitalized several times since 2015, after being diagnosed with prostate cancer in 1997. “Typically he turned his own misfortune into a teaching opportunity to raise awareness and reduce the suffering of others,” said the Tutu trust’s statement. “He wanted the world to know that he had prostate cancer, and that the sooner it is detected the better the chance of managing it.” In recent years he and his wife, Leah, lived in a retirement community outside Cape Town. Throughout the 1980s—when South Africa was gripped by antiapartheid violence and a state of emergency giving police and the military sweeping powers—Tutu was one of the most prominent Blacks able to speak out against abuses. A lively wit lightened Tutu’s hardhitting messages and warmed otherwise grim protests, funerals and marches. Short, plucky, tenacious, he was a formidable force, and apartheid leaders learned not to discount his canny talent for quoting apt scriptures to harness righteous support

for change. The Nobel Peace Prize in 1984 highlighted his stature as one of the world’s most effective champions for human rights, a responsibility he took seriously for the rest of his life. With the end of apartheid and South Africa’s first democratic elections in 1994, Tutu celebrated the country’s multi-racial society, calling it a “rainbow nation,” a phrase that captured the heady optimism of the moment. Nicknamed “the Arch,” Tutu was diminutive, with an impish sense of humor, but became a towering figure in his nation’s history, comparable to fellow Nobel laureate Nelson Mandela, a prisoner during white rule who became South Africa’s first Black president. Tutu and Mandela shared a commitment to building a better, more equal South Africa. In 1990, after 27 years in prison, Mandela spent his first night of freedom at Tutu’s residence in Cape Town. Later, Mandela called Tutu “the people’s archbishop.” Upon becoming president in 1994, Mandela appointed Tutu to be chairman of the Truth and Reconciliation Commission, which uncovered the abuses of the apartheid system. Tutu campaigned internationally for human rights, especially LGBT rights and same-sex marriage. “I would not worship a God who is homophobic and that is how deeply I feel about this,” he said in 2013,

launching a campaign for LGBT rights in Cape Town. “I would refuse to go to a homophobic heaven. No, I would say, ‘Sorry, I would much rather go to the other place.’” Tutu said he was “as passionate about this campaign [for LGBT rights] as I ever was about apartheid. For me, it is at the same level.” He was one of the most prominent religious leaders to advocate LGBT rights. Tutu’s very public stance for LGBT rights put him at odds with many in South Africa and across the continent as well as within the Anglican Church. South Africa, Tutu said, was a “rainbow” nation of promise for racial reconciliation and equality, even though he grew disillusioned with the African National Congress, the anti-apartheid movement that became the ruling party in 1994 elections. His outspoken remarks long after apartheid sometimes angered partisans who accused him of being biased or out of touch. Tutu was particularly incensed by the South African government’s refusal to grant a visa to the Dalai Lama, preventing the Tibetan spiritual leader from attending Tutu’s 80th birthday celebration as well as a planned gathering of Nobel laureates in Cape Town. South Africa rejected Tutu’s accusations that it was bowing to pressure from China, a major trading partner. See “Desmond,” A9

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Gorbachev’s resignation 30 years ago marked the end of USSR

Just minutes earlier, Soviet President Mikhail Gorbachev announced his resignation in a live televised address to the nation, concluding 74 years of Soviet history. In his memoirs, Gorbachev, now 90, bitterly lamented his failure to prevent the USSR’s demise, an event that upset the world’s balance of power and sowed the seeds of an ongoing tug-of-war between Russia and neighboring Ukraine. “I still regret that I failed to bring the ship under my command to calm waters, failed to complete reforming the country,” Gorbachev wrote. Political experts argue to this day whether he could have held onto his position and saved the USSR. Some charge that Gorbachev, who came to power in 1985, could have prevented the Soviet breakup if he had moved more resolutely to modernize the anemic state-controlled economy while keeping tighter controls on the political system. “The collapse of the Soviet Union was one of those occasions in history that are believed to be unthinkable until they become inevitable,” Dmitri Trenin, the director of the Moscow Carnegie Center, told The Associated Press. “The Soviet Union, whatever its long-term chances were, was not destined to go down when it did.” By the fall of 1991, however, deepening economic woes and secessionist bids by Soviet republics had made the collapse all but certain. A failed August 1991 coup by the Communist old guard provided a major catalyst, dramatically eroding Gorbachev’s authority and encouraging more Soviet republics to seek independence. While Gorbachev desperately tried to negotiate a new “union treaty” between the republics to preserve the USSR, he faced stiff resistance from his arch-rival, Russian Federation leader Boris Yeltsin, who was eager to take over the Kremlin and had backing from other independentminded heads of Soviet republics. On December 8, the leaders of Russia, Ukraine and Belarus met in a hunting lodge, declaring the USSR dead and announcing the creation of the Commonwealth of Independent States. Two weeks later, eight other Soviet republics joined the newly formed alliance, handing Gorbachev a stark choice: step down or try to avert the country’s breakup by force. The Soviet leader analyzed the tough dilemma in his memoirs, noting that an attempt to order the arrest of the republics’ leaders could have resulted in a bloodbath amid split loyalties in the military and law enforcement agencies. “If I had decided to rely on some part of the armed structures, it would have inevitably triggered an acute political conflict fraught with blood and far-reaching negative consequences,” Gorbachev wrote. “I couldn’t do that: I would have stopped being myself.” What would have happened had Gorbachev resorted to force is hard to imagine in retrospect, the Carnegie Center’s Trenin observed. “It might have unleashed bloody events in Moscow and across Russia, maybe across the Soviet Union, or it might have consolidated some things,” he said. “Had he decided to go down that route...there would have been blood on his hands. He would have had to turn into a sort of a dictator, because that would have... done away with his most important element of legacy; that is, not using force in a massive way.” When the leaders of Russia, Belarus and Ukraine declared the Soviet Union defunct, they didn’t pay much

Russian President Vladimir Putin, whose two decades at the helm is longer than Gorbachev and Yeltsin’s tenures combined, has famously described the Soviet collapse as “the greatest geopolitical catastrophe of the 20th century.” attention to what would happen to the 4-million-strong Soviet military and its massive nuclear arsenals. After the Soviet collapse, it took years of US-led diplomatic efforts to persuade Ukraine, Belarus and Kazakhstan to hand over to Russia the Soviet nuclear weapons left on their territories—a process finally completed in 1996. “The leaders of the republics that announced the end of the Soviet Union in December 1991 did not think through all the consequences of what they were doing,” Gorbachev’s aide, Pavel Palazhchenko, told the AP. Russian President Vladimir Putin, whose two decades at the helm is longer than Gorbachev and Yeltsin’s tenures combined, has famously described the Soviet collapse as “the greatest geopolitical catastrophe of the 20th century.” “The breakup of the Soviet Union was the collapse of a historic Russia,” Putin said in a documentary that aired this month on Russian state television. “We lost 40% of the territory, production capacities and population. We became a different country. What had been built over a millennium was lost to a large extent.” The Kremlin moved to redraw the post-Soviet borders in 2014, responding to the ouster of Ukraine’s former Moscow-friendly leader by annexing the Ukrainian Crimean Peninsula and throwing its weight behind separatist rebels in its neighbor’s east. More than seven years of fighting in Ukraine’s eastern industrial heartland has killed over 14,000 people. Tensions flared up in recent weeks over a Russian troop buildup near Ukraine that fueled Western fears of an invasion. Moscow has denied plans for an offensive and sternly urged the US and its allies to provide a binding pledge that Nato wouldn’t expand to Ukraine or deploy weapons there—a demand rejected by the West. Putin and his officials countered the Western argument that Russia doesn’t have a say in the alliance’s expansion by emphasizing the country’s right to protect its core security interests. “Russia has never pretended to have the right of vote to make decisions for other countries,” Konstantin Kosachev, a deputy speaker of the upper house of Russian parliament, told the AP. “But we have an absolute right of vote to ensure our own interests and security, and to offer our vision of a security environment in the nearby regions.” While Putin has repeatedly denied intentions to rebuild the USSR, he has described Russians and Ukrainians as “one people” over angry protests from Kyiv and charged that Ukraine unfairly inherited historic parts of Russia in the Soviet demise. The Russian leader further toughened his rhetoric Thursday amid spiraling tensions with the West, blaming Soviet founder Vladimir Lenin for handing Russian lands to Ukraine to “create a country that had never existed before.” Harriet Morris, Tanya Titova and Anna Frants contributed to this report.

Toll interoperability and other tollway musings Thomas M. Orbos

STREET TALK

By Vladimir Isachenkov | Associated Press

OSCOW—People strolling across Moscow’s snowy Red Square on the evening of Dececember 25, 1991 were surprised to witness one of the 20th century’s most pivotal moments—the Soviet red flag over the Kremlin pulled down and replaced with the Russian Federation’s tricolor.

Monday, December 27, 2021

just got back from a trip up north. And what could have been a smooth and amazing Christmas journey given the infrastructural marvel of the highways that used to take several hours to traverse and now whittled down to a few, was unfortunately hampered by the long lines at the toll gates. It’s unfortunate that our tollways, despite the roads being interconnected now, remain to be inefficiently not interoperable.

It should not be so. Announcements made as early as 2017 by the government, in particular the Department of Transportation and the Department of Public Works and Highways, which proudly heralded that the interoperability of the different expressway operators will soon become a reality. A Memorandum of Agreement was even signed between the government and the tollway operators, proudly indicating that such interoperability will commence six months from signing, with the DOTr in its press statement saying such a common and unified toll system is an “exercise of both political will and common sense.” Up to now, it remains to be still in the works; its realization will mostly likely drag on to the next administration.

It is true that such integration of different systems is not a walk in the park, with different systems from not just a few different operators—San Miguel Holdings Corp., Skyway O&M Corp., South Luzon Tollways Corp., Vertex Tollways Development Inc., Star Infrastructure Development Corp., Nlex Corp., Tollway Management Corp., Citra Metro Manila Tollways Corp., Manila Toll Expressway Systems Inc., Metro Pacific Tollways Corp., Cavitex Infrastructure Corp., PEA Tollway Corp., MPCALA Holdings Inc., Ayala Corp., and MCX Tollway Inc. As there was really no standard set at the onset, such integration will take time as well as equate to have some substantial costs. Initially borne by the operators themselves, this will presumably be passed on to

These over speeding motorists are caught on camera by the CCTV networks of the tollways. It would, however, be better if sometimes over speeding enforcement is done by actual enforcers to have more weight and additional effectiveness.

the motorists and the riding public. But considering the time saved and the convenience offered through a seamless toll transactions, such unification of tolls will be worth its costs and will translate to its eventual contribution to the economy. Think of the increase of commerce transport that will happen daily as well as the convenient temptation to visit the provinces that will all contribute to our grossly underachieving domestic tourism. So we wonder, when will we ever have that interoperability? Still on the tollways. Admirable is how speeding laws are enforced in these areas with many over speeding motorists being flagged down by LTO-deputized enforcers at the toll gates. These over speeding motorists are caught on camera by the CCTV networks of the tollways. It would, however, be better if sometimes over speeding enforcement is done by actual enforcers to have more weight and additional effectiveness. Besides, overall enforcer presence is already there, mostly assisting those who encounter vehicular problems. Actual apprehension by enforcers on the

long stretches, similar to the CHiPs in California, are proven to result in better deterrence to over speeding. On another note, gas stations on tollways seem to be destinations in themselves with more non-gasoline offerings getting even bigger, grander and in some cases, comparable to shopping malls that we Filipinos are endeared to. But in some cases, basic gasoline services such as vehicle troubleshooting is kept minimal or are left out to give more room to commercial ventures. Also, it will do us good if we can have basic medical services, especially for travel-related illnesses or accidents, in these places. After all, should this not be part of the services that government should have in the first place and which they require from operators in their concession contracts? We do wish that the toll regulatory agency will monitor the over-commercialization of these gasoline establishments. So much for my travel musings. Thank you for such a wonderful year traveling with you, my readers. I look forward to another exciting year of travel, transport and commuting with all of you as we journey towards 2022. Thomas “Tim” Orbos is currently a transport policy advisor for an international organization and worked in government on transport and urban development matters. He is an alumnus of Georgetown University and the MIT Sloan School of Management. He can be reached via e-mail—tmo45@ georgetown.edu /thomas_orbos@sloan.mit.edu

Space telescope launched on daring quest to behold first stars

By Marcia Dunn | AP Aerospace Writer

he world’s largest and most powerful space telescope rocketed away Saturday on a high-stakes quest to behold light from the first stars and galaxies and scour the universe for hints of life.

NASA’s James Webb Space Telescope soared from French Guiana on South America’s northeastern coast, riding a European Ariane rocket into the Christmas morning sky. “What an amazing Christmas present,” said Thomas Zurbuchen, NASA’s science mission chief. The $10 billion observatory hurtled toward its destination 1 million miles (1.6 million kilometers) away, or more than four times beyond the moon. It will take a month to get there and another five months before its infrared eyes are ready to start scanning the cosmos. First, the telescope’s enormous mirror and sunshield need to unfurl; they were folded origami-style to fit into the rocket’s nose cone. Otherwise, the observatory won’t be able to peer back in time 13.7 billion years as anticipated, within a mere 100 million years of the universeforming Big Bang. NASA Administrator Bill Nelson called Webb a time machine that will provide “a better understanding of our universe and our place in it: who we are, what we are, the search that’s eternal.” “We are going to discover incredible things that we never imagined,” Nelson said following liftoff, speaking from Florida’s Kennedy Space Center. But he cautioned: “There are still innumerable things that have to work and they have to work perfectly... we know that in great reward there is great risk.”

Intended as a successor to the aging Hubble Space Telescope, the long-delayed James Webb is named after NASA’s administrator during the 1960s. NASA partnered with the European and Canadian space agencies to build and launch the new 7-ton telescope, with thousands of people from 29 countries working on it since the 1990s. With the launch falling on Christmas and a global surge in Covid-19 cases, there were fewer spectators at the French Guiana launch site than expected. Nelson bowed out along with a congressional delegation and many contractors who worked on the telescope. Around the world, astronomers and countless others tuned in, anxious to see Webb finally taking flight after years of setbacks. Last-minute technical snags bumped the launch nearly a week, then gusty wind pushed it to Christmas. A few of the launch controllers wore Santa caps in celebration. “We have delivered a Christmas gift today for humanity,” said European Space Agency director general Josef Aschbacher. He described it as a special moment, but added: “It’s very nerve-racking. I couldn’t do launches every single day. This would not be good for my life expectancy.” Cheers and applause erupted in and outside Launch Control following Webb’s flawless launch, with jubilant scientists embracing

Desmond. . .

prosecuted. Desmond Mpilo Tutu was born Oct. 7, 1931, in Klerksdorp, west of Johannesburg, and became a teacher before entering St. Peter’s Theological College in Rosetenville in 1958 for training as a priest. He was ordained in 1961 and six years later became chaplain at the University of Fort Hare. Moves to the tiny southern African kingdom of Lesotho and to Britain followed, with Tutu returning home in 1975. He became bishop of Lesotho, chairman of the South African Council of Churches and, in 1985 the first Black Anglican bishop of Johannesburg and then in 1986, the first

continued from A8

Early in 2016, Tutu defended the reconciliation policy that ended white minority rule amid increasing frustration among some South Africans who felt they had not seen the expected economic opportunities and other benefits since apartheid ended. Tutu had chaired the Truth and Reconciliation Commission that investigated atrocities under apartheid and granted amnesty to some perpetrators, but some people believe more former white officials should have been

one another amid shouts of “Go Webb!” and signs that read: “Bon Voyage Webb.” Cameras on the rocket’s upper stage provided one last glimpse of the shimmering telescope against a backdrop of Earth, before it sped away. “That picture will be burned into my mind forever,” Zurbuchen told journalists. The telescope’s showpiece: a goldplated mirror more than 21 feet (6.5 meters) across. Protecting the observatory is a wispy, five-layered sunshield, vital for keeping the light-gathering mirror and heat-sensing infrared detectors at subzero temperatures. At 70 feet by 46 feet (21 meters by 14 meters), it’s the size of a tennis court. If all goes well, the sunshield will be opened three days after liftoff, taking at least five days to unfold and lock into place. Next, the mirror segments should open up like the leaves of a drop-leaf table, 12 days or so into the flight. In all, hundreds of release mechanisms need to work—perfectly—in order for the telescope to succeed. Such a complex series of actions is unprecedented—“like nothing we’ve done before,” noted NASA program director Greg Robinson. Black archbishop of Cape Town. He ordained women priests and promoted gay priests. Tutu was arrested in 1980 for taking part in a protest and later had his passport confiscated for the first time. He got it back for trips to the United States and Europe, where he held talks with the UN secretarygeneral, the pope and other church leaders. Tutu called for international sanctions against South Africa and talks to end the conflict. Tutu often conducted funeral services after the massacres that marked the negotiating period of 1990-1994. He railed against black-

“Now it’s our job to start from here and keep going,” said Massimo Stiavelli, an astronomer who heads the Webb mission office at the Space Telescope Science Institute in Baltimore. The institute serves as the control hub for Hubble and, now, Webb. The Hubble Space Telescope will be a tough act to follow, according to Stiavelli and retired astronautastronomer Steven Hawley, even though Webb is 100 times more powerful. Hawley, in fact, is more stressed over Webb than he was for Hubble, which he released into orbit from space shuttle Discovery in 1990. That’s because Webb will be too far away for rescuing, as was necessary when Hubble turned out to have blurry vision from a defective mirror. Spacewalking repairs by astronauts transformed Hubble into a beloved marvel that has revolutionized humanity’s understanding of the universe, casting its eyes as far back as 13.4 billion years. It’s now up to Webb to draw even closer to the Big Bang 13.8 billion years ago, its infrared vision keener and more far-reaching than Hubble’s is in the shorter visible and ultraviolet wavelengths. NASA is shooting for 10 years of operational life from Webb. Engineers deliberately left the fuel tank accessible for a top-off by visiting spacecraft, if and when such technology becomes available. “Hubble is like the perfect story. It starts badly, then the cavalry fixes it, then it’s a major success. It’s almost a Christmas movie in a way,” Stiavelli said following Webb’s liftoff. “It’s a high bar, but hopefully the science contributions of Webb will be up there.” on-black political violence, asking crowds, “Why are we doing this to ourselves?” In one powerful moment, Tutu defused the rage of thousands of mourners in a township soccer stadium after the Boipatong massacre of 42 people in 1992, leading the crowd in chants proclaiming their love of God and themselves. After Mandela became president in 1994, he asked Tutu to head the truth commission to promote racial reconciliation. The panel listened to harrowing testimony about torture, killings and other atrocities during apartheid. At some hearings, Tutu wept openly. AP journalist Christopher Torchia contributed to this report

A10 Monday, December 27, 2021

7K HEALTH-CARE WORKERS TO BE DEPLOYED IN ’22–DOLE By Samuel P. Medenilla

@sam_medenilla

NOTHER 7,000 healthcare workers (HCW) will be deployed next year, according to the Department of Labor and Employment (DOLE). Labor and Employment Secretary Silvestre H. Bello III announced at the weekend that the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) approved their recommendation to keep the existing deployment cap for HCWs next year. This, after the IATF also decided to increase the deployment cap for HCWs from 6,500 to 7,000 for this month. Bello noted that the limit for deployment of HCWs for 2022 may still be adjusted

depending on the supply in demand of the workers in the country. “What is important is that we don’t run out of health-care workers,” Bello said. To note, the Philippine Overseas Employment Administration (POEA) imposed the deployment cap for several categories of HCWs, which includes nurses and doctors, last January to make sure the country will have sufficient numbers of frontliners for its Covid-19 response. Initially, the deployment cap was only at 5,000 but it was increased to 6,500 and recently to 7,000. The cap, however, does not apply to HCWs, who have existing employment contracts abroad as well as those deployed under governmentto-government arrangement or to the United Kingdom.

Odette a super typhoon? Not quite, says PAGASA By Malou Talosig-Bartolome & Jonathan L. Mayuga @jonlmayuga

YPHOON Odette (international name: Rai) was a super typhoon, contrary to earlier forecasts, a United Nations official said as he rallied the international community to help the more than 2 million Filipinos left homeless and powerless by the monster typhoon. “Contrary to predictions, Rai intensified from a tropical storm to a super typhoon within hours before making landfall,” Gustavo Gonzalez, UN Resident Coordinator and Humanitarian Coordinator wrote in the UN assessment report on humanitarian needs and priorities for Typhoon Odette. A super typhoon is defined by the Philippine weather bureau, Pagasa, as having winds with 220 kilometers per hour and wave height or more than 14 meters in the open sea. Visually it would mean: widespread damage to high-risk structures, very heavy damage to medium-risk structures, heavy damage to low-risk structures, almost total damage to structures of light in highly exposed coastal areas, complete roof failure on many residences and industrial buildings; severe and extensive window and door damage, most residential and institutional buildings of mixed construction may be severely damaged, electrical power distribution and communication services severely disrupted, and all signs/ billboards blown. Vegetation damage will also be catastrophic: most tall trees are broken, uprooted or defoliated, coconut trees are stopped, broken or uprooted and only few plants and trees survived. All of these descriptions of a super typhoon were seen in Siargao Island, Dinagat Islands, Cebu, Surigao Del Norte and other parts of Visayas, Mindanao and central and southern Palawan Island.

Not quite

HOWEVER, a weather forecaster said Odette does not fall under their classic definition of a Super Typhoon? Not quite, says Ana Clauren, Weather Forecaster at the Weather Division of the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA). Interviewed by the BusinessMirror, Clauren said that while

Odette’s havoc on Visayas and Mindanao evoked images of postYolanda, it still falls under the “typhoon category.” “The maximum sustained winds of Odette reached up to 195 kilometers per hour. To reach the Super Typhoon category, the maximum sustained winds should be more than 220 km/hour,” she explained in Filipino. She explained further: it just happened that the impact of Odette was severe in the affected areas that some people are calling it “Super Typhoon” “It doesn’t need to be a super typhoon to be destructive. Even if it is just a typhoon, if there’s landfall and the area hit by the typhoon are populated area with houses made of light materials, then expect severe devastation. If a typhoon is packed with strong wind, brought in excessive rainfall and made landfall, then expect severe damage,” she said. She noted that even the Category of a Severe Tropical Storm can be very destructive. “Every typhoon has its own impact, especially if it makes landfall several times,” she explained. PAG A S A’s forec a st of t he strength of Typhoon Odette were: ■ 150 kph as of December 16 5am https://pubfiles.pagasa. dost.gov.ph/tamss/weather/ bulletin/TCB%239_odette.pdf ■ 165 kph as of December 16 8am https://pubfiles.pagasa. dost.gov.ph/tamss/weather/ bulletin/TCB%239_odette.pdf ■ 185 kph as of December 16 11am https://pubfiles.pagasa. dost.gov.ph/tamss/weather/ bulletin / TCB%2310_odette. pdf ■ 195 kph as of December 16 2pm https://pubfiles.pagasa. dost.gov.ph/tamss/weather/ bulletin/TCB%2311_odette.pdf At 8am, Signal No. 3 was hoisted in Southern Leyte, Bohol, Cebu, Dinagat Islands, Surigao del Norte, the northern portion of Agusan del Norte, and the northern portion of Surigao del Sur. Three hours later, at 11am, Signal No. 4 was hoisted in Southern Leyte, eastern portion Bohol, Dinagat Islands, Surigao del Norte including Siargao and Bucas Grande Islands. Odette first unleashed her wrath around 1pm. Residents of Siargao and Dinagat claimed Odette was more powerful than Super Typhoon Yolanda (international name: Haiyan), the most powerful storm ever to land on Earth. Continued on A2

Govt troops brace for NPA attacks on 53rd anniversary C By Rene Acosta

@reneacostaBM

OMMUNIST guerillas vowed on Sunday to meet the military’s intensified counterinsurgency operations head-on and frustrate President Duterte’s goal to end insurgency in the country before he steps down in June next year. They made the vow as they marked the 53rd anniversary of their political wing, the Communist Party of the Philippines (CPP). The Philippine National Police has alerted its units against possible attacks by the rebels, whom the Armed Forces of the Philippines said have suffered irreversible defeat around the country. On Friday, a member of the Central Committee of the Communist Party of the Philippines died during a firefight in Davao de Oro. W hile acknowledging some losses by its armed wing, the New People’s Army (NPA), in some areas around the country, the Central Committee of the CPP said a great majority of NPA units have rendered the military’s superiority ineffective and have “grown in

strength” and “expanded” their base of support. “ The national and regional operational commands of the NPA remain intact despite the unremitting division and battalion-sized tactical operations carried out by the AFP,” the CPP said. The military recently killed Jorge “Ka Oris” Madlos, head of the national operations command of the NPA. “NPA units have also frustrated major strategic offensives in the provinces of Cagayan, Ilocos Sur, Quezon, Camarines Norte, Masbate, other Bicol provinces as well as in the islands of Mindoro, Palawan,

Samar and Negros,” the CPP said. Duterte has ordered the military to finish the communistspawned insurgency before he leaves office next year, a task that the Armed Forces Chief of Staff Lt. Gen. Andres Centino said is not impossible, considering that the rebels only number about 4, 000. Their guerilla fronts are currently the subjects of sustained operations, he noted. Centino noted the successive dismantling of guerilla fronts in the operational areas of the Northern Luzon Command and Eastern Mindanao Command. On the eve of the CPP anniversary, PNP chief General Dionardo Carlos ordered police units to heighten their vigilance against possible hostilities as rebels mark the anniversary of their political wing. “Historically, there are documented incidents of high-profile tactical engagements against government forces, and hostilities against soft targets launched by the CPP-NPA to mark the CPP anniversary every December 26th, and the NPA anniversary on March 29th,” he said. The PNP chief put the Special Action Force, the PNP’s national maneuver force and all 17 Regional Mobile Force Battalions nationwide

on highest alert for possible rapid deployment and quick reaction to any contingency. Defen se Sec ret a r y De l f i n Lorenzana said the “long years of futile resistance” by the rebels “should be more than enough for them to realize that they will never succeed in forcing their unchristian ideology and communist principle on our people.” “The influence of the CPP will continue to diminish as the government implements a whole-ofnation (WON) approach, where the people themselves are in the forefront of the fight. Since the WON was started in 2018, we saw the flood of surrenderees and the capture or killing of ranking NPA cadres. At last the people are fed up and are rising up against them,” the defense chief said in a statement. Lorenzana noted that since the government has offered benefits for those returning to the government fold, “tens of thousands have availed of this offer.” “We call upon those still in the hills to also take up this offer. Come down for the sake of your families. Together we shall work to make our country peaceful and prosperous,” he said. Continued on A3

AN Emirates Airlines plane carrying 1,531,000 doses of Moderna vaccines donated by the German government through the Covax facility—a partnership between the World Health Organization and international groups which aims to send vaccines to developing countries—is welcomed by Mojca Krisper Figueroa (Attaché, European Union); Thomas Meyerer (Deputy Representative, Unicef) , Secretary Carlito Galvez (NTF/OPAPP); and George Maue (Economic Counselor, German Embassy), at the Ninoy Aquino International Airport on Thursday, December 23, 2021. NONILON REYES

Former President Arroyo foresees ‘first-world’ PHL By Roderick L. Abad

Contributor

PBEAT on the nation’s economic rebound despite the pandemic and the recent typhoon that caused massive destruction to some parts of the country, former President Gloria Macapagal-Arroyo expressed hope that the Philippines would become an advanced economy or first-world country within this generation. She said she would like to see the Philippines attain such status in her lifetime, duplicating the accomplishment of her father, the late President Diosdado Macapagal, whose term saw the country become the second richest Asian nation after Japan.

First world refers to high-income and industrialized countries with gross national income (GNI) per capita of $12,700 or more. These are the likes of the United States (US), Japan and Germany. At present, the Philippines is ranked as a middle-income economy. The National Economic and Development Authority projects that this island nation would achieve by 2022 the upper middle-income status—next to the first-world level— with GNI per capita of over $4,000. The Philippines’s per capital income was lifted during the 38 quarters of economic growth experienced in the Arroyo’s nine-year administration from 2001 to 2010. Under her watch, the country also survived the global financial crisis

with stronger finances. “At that time two-thirds of the world went into a recession, but not the Philippines,” the ex-chief executive said. An economist by profession, Arroyo made different economic reforms that resulted in strong government finances, low inflation and stable economic growth that averaged 4.5 percent yearly, one of the fastest in Southeast Asia. She introduced fiscal reforms, such as the Expanded Value Added Tax law, which bolstered government revenues and guaranteed fiscal stability for the next administrations. This, likewise, laid the foundation for the Philippines to obtain investment-grade rating from major credit rating agencies. Among

them is Fitch Ratings, which acknowledged that the “improvements in fiscal management begun under President Arroyo have made general government debt dynamics more resilient to shocks.” Arroyo, who is seeking to return to Congress representing the Second District of Pampanga, believes that apart from Metro Manila, the development of a new megalopolis will help the Philippines attain faster economic expansion in the next decades. She is pushing for various infrastructure projects to support the rise of Pampanga Golden Triangle as the next megalopolis in Luzon. “When completed, Pampanga Megalopolis will become a jewel in Southeast Asia,” the former House Speaker said.

Editor: Jennifer A. Ng

Companies BusinessMirror

Monday, December 27, 2021

Po family acquires sardines brand, French fries retailer

By VG Cabuag

@villygc

irms owned by the Po Family are acquiring the Ligo sardines brand from the Tung family and Potato Corner, an operator of kiosks selling flavored French fries. Century Pacific Food Inc., which produces canned goods, such as Century Tuna and 555 Sardines, said it is purchasing all the assets and intellectual property related to the manufacturing of Ligo’s product lineup, which consists of shelf-stable marine products. The company did not announce the acquisition cost, but it said it had secured the necessary board approvals late last week. “Ligo is a leading brand in the sardine category. Ligo will be highly synergistic with the rest of our shelf stable marine products. We are deeply humbled that the Tung family has entrusted this brand to our company, and we shall do our utmost to honor this legacy brand and continue its heritage,” Christopher Po, the company’s executive chairman, said. “This will be an accretive, bolt

on acquisition. We foresee synergies in selling and distribution, supply chain, and marketing. Moreover, this acquisition is very aligned with our mission to provide affordable nutrition to our consumers. Our company has a long-standing business in the sardines category. We will be leveraging our scale and our experience to create more value for the brand, which will in turn strengthen our core business.” Gregory Tung Sr., founder of A. Tung Chingco Trading Inc. partnered with Liberty Gold Fruit Co., Inc. of California, United States to become the exclusive distributor of Ligo Sardines in the Philippines in 1954. His son, Gregory Tung Jr., transformed the trading company into a manufacturing company in the 1980s. It was during his time when

Ligo sardines began exporting locally sourced, canned sardines produced in their Caloocan factory, with the staple fish being sourced from Zamboanga. Today Ligo is one of the top shelfstable sardine brands in the Philippines with a heritage of over 60 years. It is a market leader in key regions in the Philippines. Meanwhile, the Po family’s Shakey’s Pizza Asia Ventures Inc. will also purchase assets and intellectual property relating to the Potato Corner business. The acquisition involves owning and operating all company-owned stores, as well as serving as brandowner and franchisor of stores being operated by franchisees both domestically and internationally. Potato Corner is widely-known as one of the leading and most established food kiosk chains in the Philippines. It is a heritage brand made famous by its flavored fries. It is owned by the partners of Jose Magsaysay, established in 1992 with its first kiosk in SM Megamall in Mandaluyong. It retained its strategy of operating kiosks, but it has built a vast network of over 1,000 outlets domestically and has a growing international footprint in Asia Pacific. Like most food service businesses in the country, Potato Corner took a

blow during the pandemic, but still posted profits. “Its co-founder, Jose Magsaysay, has truly established a solid brand foundation with a product that universally resonates with consumers. The current scale of Potato Corner and the brand love that it receives from consumers are a testament to that. We, at Pizza, are grateful that Potato Corner’s former owners are entrusting the brand to our team,” Vicente Gregorio, Shakey’s president and CEO said. “This is an accretive acquisition. Nonetheless, we will pursue maximizing synergies and wielding our expertise in business development, franchise management, and supply chain operations to further grow the brand sustainably.” The company also did not announce the acquisition price. “As an established player in the kiosk industry, Potato Corner is often the brand of choice among budding entrepreneurs. The brand’s market leadership, small and relatively lowcost store format, healthy margins, and fast payback create an attractive investment for micro, small, and medium-sized enterprises. Over the years, the brand has supported a multitude of entrepreneurs, helping their businesses flourish along with Potato Corner’s growth.”

‘Property market to rebound in 2022’ T he Philippine property market’s rebound next year will be driven by office and residential buildings, according to property consultant Colliers. In its report, Colliers also said that while it believes in the so-called revenge spending by the consumers, there may still be an oversupply of retail spaces. Colliers said the vacancy in the retail sector will rise to about 17 percent, as 523,700 square meters of fresh retail space will be delivered through next year but demand from consumers was tepid due to the lockdown situation in Metro Manila and nearby provinces. “Over the next 12 to 24 months, we encourage mall operators to be cautious of new supply. Colliers observed that developers have been cautious in completing new malls and this was evident in 2020 when

only 53,100 square meters of new space was completed. This is significantly lower than the annual average of about 323,200 square meters of new supply from 2017 to 2019,” it said. In January to September, retail rents dropped by 5 percent, from a 10-percent decline in the same period a year ago. The property consultant expects rents to recover slowly starting 2022 with an improved vaccination program and a government-projected economic recovery spurring an increase in consumer spending. “Filipinos’ growing propensity to shop online remains an important factor that will likely influence physical mall space absorption beyond 2022. Colliers recommends that retailers expand their e-commerce presence and maximize technological advantages,” it said.

In general, however, there will be a rebound in the property sector, which has been affected the most by the pandemic. Joey Roi Bondoc, Colliers associate director and head of research, said the office, residential, retail and industrial sectors will benefit from a macroeconomic rebound. “Landlords should prepare to capture pent-up demand while tenants and investors should maximize opportunities as the market is on its way to recovery,” he said. For the office sector, the company said it projects new supply to reach 723,400 square meters by the end of 2022 as office deals will pick up within and outside of Metro Manila. “Colliers also sees more landlords and occupiers embracing the healthy and sustainable route to office development and leasing. We believe that the adoption of sustainable office

spaces plays a crucial role in futureproofing office towers beyond 2022. In our view, there will likely be a heightened preference for sustainable buildings that provide natural lighting and optimize air quality, among other features.” There may be some 9,700 units of residential units to be delivered in 2022, up 18 percent from 8,200 units this year, with the Manila Bay area likely accounting for 60 percent of the new supply. Prices and rents are also both seen to recover. For the industrial sector, vacancy is seen to drop to 5.5 percent from 5.6 percent this year. Rents will increase by 3 percent, as demand for cold storage facilities will rise to sustain demand for industrial assets in the next 12 to 36 months. “We also anticipate an increased demand for warehouses from e-commerce and logistics firms.” VG Cabuag

ICTSI unit Westons sell Selfridges to Thai JV for $5.4B in Australia expands fleet

nternational Container Terminal Services Inc. (ICTSI) said on Wednesday its Australian subsidiary took delivery of six new automated container carriers (ACC) from Kalmar. The new container carriers expands Victoria International Container Terminal’s fleet to a total of 17 units, which will enhance container movement between automated ship-to-shore- cranes on the terminal’s quay side and auto stacking cranes on the land side. “The delivery of six additional automated container carriers is very much welcomed by VICT. The ACCs will enable VICT to meet the growing volumes being driven across the Port of Melbourne, whilst also providing necessary equipment availability time to support engineering maintenance activities,” VICT COO Jon Wheeler said. Lorenz S. Marasigan

he billionaire dynasty behind Selfridges & Co. has sold the British department store operator to a Thai-Austrian joint venture for about 4 billion pounds ($5.4 billion) in one of the biggest United Kingdom retail deals in years. The Weston family said Central Group, which is owned by the Chirathivats, one of Asia’s wealthiest families, and Signa Holding of Austria, have formed a joint venture to buy the retail group. Central and Signa will own the chain in a 50-50 partnership, according to a statement late Thursday London time. The purchase price was not formally disclosed but is close to 4 billion-pounds ($5.4 billion), according to two people with knowledge of the transaction who asked not to be named because the information is confidential. This makes it one of the top 10 biggest takeovers targeting a UK company this year, according to Bloomberg data. Bloomberg previously reported the Weston family was considering a sale following an approach from

an interested party and appointed Credit Suisse as an adviser in June. Selfridges, founded in 1908 by Harry Gordon Selfridge, is best known for the giant store on London’s Oxford Street that has long been a mecca for fashion enthusiasts. There are also Selfridges stores in Manchester and Birmingham. The business was bought by the Canadian businessman Galen Weston for almost 600 million pounds in 2003 and has since expanded to include other department store chains, including Arnotts and Brown Thomas in Ireland, Holt Renfrew in Canada and De Bijenkorf in the Netherlands. Overall the group operates 25 stores worldwide across its five brands. The sale to Central and Signa doesn’t include Holt Renfrew, which will remain with the Weston family. Central Group is a fourth generation family-owned company involved in a host of industries from real estate and retailing to hospitality and restaurants. The Chirathivat family had the 20thlargest fortune in Asia, worth

$12.9 billion, according to a ranking compiled in November 2020 by Bloomberg News.

Famous properties

Signa was founded by retail and real estate entrepreneur Rene Benko, who owns or has stakes in some of the world’s most famous properties including the Chrysler building in New York. Trophy assets in the UK have attracted interest even as retail business on major shopping streets suffers. Retail property values have declined in recent years, and the industry was hammered by the pandemic and the shift to online shopping. Selfridges is among the world’s most famous department stores and has weathered the pandemic well. A considerable part of the retailer’s value lies in the significant chunk of London real estate it owns on Oxford Street. This includes an undeveloped site at the back of the store where there were once plans for a hotel, leisure and office complex. Bloomberg News

Philippine Estates lists SRO shares

Photo shows (from left, by row): Philippine Estates Corp. (PHES) Chairman Arthur M. Lopez, PSE COO Roel A. Refran; PHES President and CEO Elvira A. Ting, PHES Director Dee Hua T. Gatchalian, PSE President and CEO Ramon S. Monzon, PSE Issuer Regulation Division Head Marigel B. Garcia; PHES Director Sergio R. Luis-Ortiz Jr., PHES Treasurer and Director Richard L. Ricardo and Securities Clearing Corporation of the Philippines Chief Operating Officer Renee D. Rubio. Contributed photo

he Philippine Estates Corp. (PHES) concluded its P1.4billion stock rights offering (SRO) with a listing ceremony held on December 24 at the Philippine Stock Exchange (PSE). PHES had a 1:1 SRO, proceeds of which will be used for the acquisition of land in Bulacan, Cavite, Cebu and Iloilo as well as for general corporate purposes. In his welcome remarks during the listing ceremony, PSE President and CEO Ramon S. Monzon cited that some listed companies that have not had any equity fund raising in a decade or so returned to the stock market this year, including PHES. “As Philippine Estates continues to expand its property portfolio,

there is no question that the funds raised from this SRO will support the company’s initiatives and provide new windows for growth.” PHES had its last capital raising in September 1995 when it was still listed as Philippine Cocoa Estates Corp. (PCEC). PCEC was acquired by the Wellex Group in 1996 and was renamed Philippine Estates Corp. Prior to acquisition, PCEC already a public listed firm, produced and supplied the cocoa beans used as raw materials in factories. With the continued softening of prices of cocoa products in the world market, and with vast landholdings, the company shifted to real estate to take advantage of the upsurge in the real estate business and “to give better value to stockholders.”

TikTok sued by content moderator disturbed by graphic videos

ikTok’s 10,000 content moderators are exposed to a regular diet of child pornography, rapes, beheadings and animal mutilation, according to a lawsuit filed against the video-sharing platform and its parent, ByteDance Inc. It gets worse. Content moderator Candie Frazier says in her proposed class-action lawsuit that she has screened videos involving freakish cannibalism, crushed heads, school shootings, suicides, and even a fatal fall from a building, complete with audio. And there’s no escaping it, Frazier claims. TikTok requires moderators to work at a frantic pace, watching hundreds of videos per 12-hour shift with only an hour off for lunch and two 15-minute breaks, according to Thursday’s complaint in federal court in Los Angeles. “Due to the sheer volume of content, content moderators are permitted no more than 25 seconds per video, and simultaneously view three to ten videos at the same time,” her lawyers said in the complaint. TikTok said it doesn’t comment on ongoing litigation, but strives “to promote a caring working environment for our employees and contractors.” “Our safety team partners with third party firms on the critical

work of helping to protect the TikTok platform and community, and we continue to expand on a range of wellness services so that moderators feel supported mentally and emotionally,” a company spokesperson said in a statement. TikTok was a member of a group of social media companies including Facebook and YouTube that developed guidelines for helping moderators cope with the images of child abuse that their jobs required them to view, according to the complaint. But TikTok failed to implement the guidelines, which include providing psychological support and limiting shifts to four hours, according to the suit. Frazier, who lives in Las Vegas, said she suffers from post traumatic stress disorder as a result of all the disturbing videos she has had to watch. “Plaintiff has trouble sleeping and when she does sleep, she has horrific nightmares,” according to the complaint. Frazier, who seeks to represent other TikTok content screeners, is asking for compensation for psychological injuries and a court order requiring the company to set up a medical fund for moderators. Bloomberg News

Companies BusinessMirror

Monday, December 27, 2021

SPNEC starts construction of solar project in N. Ecija

By VG Cabuag

@villygc

olar Philippines Nueva Ecija Corp. (SPNEC) said it has started building what it envisions to be the largest solar project in Southeast Asia, which will begin to deliver power to the grid by the end of next year. The company said it plans to reach profitability by 2023, the same year that it will also construct the rest of its project. According to its plans, the company will use the P2.7-billion proceeds of its initial public offering (IPO) to construct the first 50 megawatt of solar facilities, prepare the interconnection for its full 500 MW capacity and acquire land. The company said the full 500

MW of capacity will use the land that SPNEC has been developing since 2016. “Once the first 50 MW begins delivering power to the grid, SPNEC plans to install solar panels for the next 175 MW over half a year, and be ready to install solar panels for the rest of the 500 MW over a year, given the relative ease of adding capacity to an already operating solar farm,” the company said.

Solar Philippines is using its inhouse engineering, procurement, construction (EPC) team, which it said is the largest solar EPC team in the Philippines. Its EPC also implemented the company’s now operational solar farms in Calatagan, Batangas and Concepcion, Tarlac. Its facility is located in Peñaranda, a fourth class municipality in Nueva Ecija. The project is expected to create over 5,000 jobs during construction and over 500 jobs during operations. “The company is investing in training locals in solar panel installation, given the expected scale of projects in this area over the coming years,” it said. SPNEC earlier said it is using the rest of its IPO proceeds to develop a 1000-hectare expansion for a joint venture with a partner, whom it did not name. The company has noted that partnering with the country’s lead-

ing companies is key to accelerating the transition to renewable energy. The co-location of the first 500 MW and the 1000-hectare expansion in the same area will support the development of new transmission and bring economies of scale to solar in the Philippines, with these two projects being larger than all the solar projects to date in the Philippines combined, the company said. The Department of Energy earlier said it wants to increase energy from renewable sources to 35 percent of the total power mix by 2030. This would translate to the need to build over 20,000 MW of solar farms. According to the DOE’s latest figures as of December 2020, the Philippines had a total operating grid-connected solar capacity of 1,021 MW. SPNEC is the first company to list under the Supplemental Rules for Renewable Energy of the Philippine Stock Exchange.

STOCK-MARKET OUTLOOK Last week

Share prices fell last week, with the main index returning to the 7,100-point level, after investors cashed in on their gains ahead of the Christmas holiday. The benchmark Philippine Stock Exchange index (PSEi) fell 115.80 points to close at 7,181.86 points. The main index was down in four of the five trading days. Volume of trade was thin at an average of P4.66 billion, with Friday having the lowest trading value at just P1.74 billion. Foreign investors, which made up almost 40 percent of the trade, were net sellers at P529.63 million. With the exception of the Mining and Oil index that rose 108.49 points to close at 9,223.42 points, other sub-indices ended lower. The broader All Shares index was down 29.33 to 3,822.26, the Financials index dropped 18.37 to 1,603.55, the Industrial index fell 1.74 to 10,385.83, the Holding Firms index declined 157.39 to 6,973.50, the Property index was down 37.72 to 3,191.92 and the Services index shed 39.05 to 1,979.70. For the week, losers edged gainers 115 to 93 and 33 shares were unchanged. Top gainers were Acesite (Phils.) Hotel Corp., Solar Philippines Nueva Ecija Corp., Harbor Star Shipping Services Inc., Shakey’s Pizza Asia Ventures Inc., Philippine Trust Co. and Cirtek Holdings Philippines Corp. Top losers were Now Corp., Dizon Copper-Silver Mines Inc., Discovery World Corp., Keppel Philippines Properties Inc., Pacific Online Systems Corp. and Premiere Horizon Alliance Corp.

This week

Trading is expected to be muted during the last trading week for the year as many investors are already on a holiday mood while many are contemplating their moves for the next year. It will be a four and half-day trading week, as December 30 is a public holiday. Meanwhile, December 31 is a working public holiday which means that there will be a half-day trading at the PSE on Friday. Sessions on New Year’s Eve will open at 9 a.m. and close at 12.10 p.m. Broker 2TradeAsia said investors are al-

ready preparing for the initial public offering of Figaro Coffee Group Inc. and Haus Talk Inc. and the P40-billion stock rights offering of Union Bank of the Philippines. “Coupled with a hotly anticipated election season, liquidity maybe gyrating at non-normal levels for the first quarter of 2022, further highlighting how lulls in the market—such as that expected (this) week—may be an opportune time to tweak portfolios before the market officially heads off to the races,” the broker said. The broker said there is no indication that the main index could fall into the 6,000-point level by the end of the year. Japhet Louis O. Tantiangco, senior research analyst at Philstocks Financials Inc. said, recent developments have made investors hopeful, though the mood for this week could be one of “cautious optimism.” “Hopes that our Covid-19 situation will continue to improve, and that our economic recovery momentum would further strengthen next year may give rise to market sentiment,” Tantiangco said. “Downside risks are still on the table however. Hopes could be tempered by the lingering uncertainties on the pandemic, primarily the current problem at hand which is the Omicron variant. Adding to these are the economic damages caused by the Typhoon Odette which may carry over to next year.” He said the PSEi is currently near its 50-day exponential moving average at 7,176.52 as of December 24. This could be tested next week. “If the market holds its position above the 50-day moving average, we may see it climb towards its 7,300 resistance level. If it fails to do so however, the local bourse may test its support at the 7,000-7,100 range,” he said.

Stock picks

Broker Regina Capital and Development Corp. advised to buy when its support price holds on the stock of BDO Unibank Inc. “Throughout the session, selling pressure was down. On the other hand, buyers picked up pushing the stock closing an inch higher last week. BDO could retest

“ICTSI’s shares would likely continue moving sideways in the short term. Resistance at P200 still looks like a tough territory to pierce through by the bulls. Meanwhile, support at P190 proves to be reliable,” it said. ICTSI shares closed Friday at P193.60. VG Cabuag

the support at P122,” the broker said. BDO shares closed last week at P123 apiece. Meanwhile, it advised to trade the range on the stock of International Container Terminal Services Inc. (ICTSI) as the bears are still lingering, albeit weakened.

mutual funds

December 24, 2021

NAV

One Year Three Year Five Year

per share

Return*

Y-T-D Return

Stock Funds ALFM Growth Fund, Inc. -a

230.83

0.74%

-3.32%

-0.09%

1.6%

ATRAM Alpha Opportunity Fund, Inc. -a

1.6296

23.65%

4.45%

4.5%

24.11%

1.1%

-6.73%

-2.94%

2.15%

-5.87% n.a.

-7.37%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.2004

Climbs Share Capital Equity Investment Fund Corp. -a 0.7529 -7.12% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.7609 1.55%

-2.95% n.a.

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

-1.06%

1.58%

4.08%

0.86%

5.1429

3.12%

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

0.7747

MBG Equity Investment Fund, Inc. -a

92.9

-8.43%

PAMI Equity Index Fund, Inc. -a

47.5756

Philam Strategic Growth Fund, Inc. -a

495.88

Philequity Alpha One Fund, Inc. -a,d

1.1358

4.46% n.a. n.a.

Philequity Dividend Yield Fund, Inc. -a

1.332

Philequity Fund, Inc. -a

35.6308

2.6%

-2.84%

-2.06%

-8.27% n.a.

-8.8%

0.65%

-1.56%

1.69%

1.57%

0.55%

-1.59%

0.9%

1.42% 3.51%

13.38%

1.64%

3.32%

14.02%

1.94%

-1.3%

1.92%

2.48%

Philequity MSCI Philippine Index Fund, Inc. -a

0.9147

-0.61% n.a. n.a.

0.19%

Philequity PSE Index Fund Inc. -a

4.8171

-0.38%

-1.4%

0.54%

2.01%

818.91

1.26%

-0.82%

2.32%

2.16%

Soldivo Strategic Growth Fund, Inc. -a

0.7449

2.42%

-5.01%

-1.05%

3.62%

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.7358

Philippine Stock Index Fund Corp. -a

2.03%

-3.12%

0.64%

3.09%

Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.9335 0.81%

-1.16%

2.03%

1.72%

United Fund, Inc. -a

-1.23%

2.66%

2.7%

-0.61%

2.81%

3.4083

1.83%

-0.22%

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

110.176

1.54%

2.44%

Primarily invested in foreign currency securities $1.1227

-5.19%

7.31%

6.08%

-6.67%

Sun Life Prosperity World Voyager Fund, Inc. -a $1.8098

ATRAM AsiaPlus Equity Fund, Inc. -b

9.08%

16.8%

11.71%

8.19%

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

1.6737

0.28%

0.21%

0.48%

0.31%

ATRAM Philippine Balanced Fund, Inc. -a

2.268

-1.14%

0.76%

0.88%

-0.76%

First Metro Save and Learn Balanced Fund Inc. -a 2.679

1.42%

1.64%

2.59%

1.98%

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.2072

3.81% n.a. n.a.

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

2.67%

2.72%

2.0054

1.69%

PAMI Horizon Fund, Inc. -a

3.7451

-1.61%

1.74%

1.68%

-1.18%

Philam Fund, Inc. -a

16.7589

-1.49%

1.55%

1.63%

-1.07%

Solidaritas Fund, Inc. -a

2.108

0.16%

0.33%

1.54%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.6264 0.91%

-0.47%

1.22%

1.49%

-3.91% n.a. n.a.

-3.61%

Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9857

0.81%

Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.9362

-2.16% n.a. n.a.

-1.37%

Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.925

-1.69% n.a. n.a.

-0.87%

Sun Life Prosperity Dynamic Fund, Inc. -a

0.9457

5.61%

0.54%

1.59%

4.59%

1.95%

6.53%

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

$0.03797

-3.06%

2.57%

1.77%

-2.89%

PAMI Asia Balanced Fund, Inc. -b

$1.0594

-7.35%

4.29%

3.83%

-6.25%

5.75%

11.91%

8.71%

4.95%

Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,2 $1.1903 1.05%

6.67%

4.6%

0.57%

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.736

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

374.56

0.96%

2.95%

2.6%

0.93%

ATRAM Corporate Bond Fund, Inc. -a

1.8852

-0.76%

0.51%

-0.09%

-0.79%

Cocolife Fixed Income Fund, Inc. -a

3.2439

0.96%

3.02%

3.94%

0.89%

Ekklesia Mutual Fund Inc. -a

2.2519

-1.97%

1.87%

1.63%

-2.02%

-1%

3.2%

1.97%

-1.08%

-4.96%

3.96%

1.72%

-4.92%

First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4267 Philam Bond Fund, Inc. -a

4.4021

Philam Managed Income Fund, Inc. -a

1.3205

0.05%

3.81%

2.84%

-0.06%

Philequity Peso Bond Fund, Inc. -a

3.9755

-0.26%

4.33%

2.85%

-0.64%

Soldivo Bond Fund, Inc. -a

1.0289

-0.98%

4.88%

2.2%

-1.4%

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

3.193

-0.14%

4.93%

3.57%

-0.41%

Sun Life Prosperity GS Fund, Inc. -a

1.731

-1.05%

4.02%

2.87%

-1.37%

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

$489.52

1.21%

2.55%

1.14%

ALFM Euro Bond Fund, Inc. -a

Є219.91

0.35%

1.12%

0.31%

ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2039

-5.88%

2.29%

1.9%

-5.93%

First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.026 -2.26%

1.45%

1.03%

-2.26%

PAMI Global Bond Fund, Inc -b

$1.0238

-6.33%

-0.34%

-0.39%

-6.07%

Philam Dollar Bond Fund, Inc. -a

$2.5088

-1.01%

4.95%

3.1%

-1.23%

Philequity Dollar Income Fund Inc. -a

$0.0623359

-0.08%

3.04%

2.04%

0.06%

Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1967 -0.89%

3.69%

1.99%

-0.83%

2.56%

1.04%

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

131.17

1.09%

2.8%

First Metro Save and Learn Money Market Fund, Inc. -a 1.0578 0.96% n.a. n.a.

0.93%

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

1.42%

1.3153

1.48%

2.6%

2.53%

Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0605

0.79%

1.46% n.a.

0.65%

Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d 1.3452

21.48% n.a. n.a.

19.09%

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

$0.97

-1.02% n.a. n.a.

PSE STOCK QUOTATIONS FINANCIALs

BDO UNIBANK BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PHIL NATL BANK PSBANK PHILTRUST RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL NTL REINSURANCE PHIL STOCK EXCH SUN LIFE

2 - Adjusted due to stock dividend issuance last November 25, 2021.

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."

123 90.9 25.9 9.35 54.55 19.58 56 104.1 19.8 117.1 101.5 1.5 4.13 0.59 211.4 2,510

123.5 91 26 9.4 54.6 19.6 57.5 109.8 20 117.2 102 1.67 4.2 0.68 212 2,788

124 92 25.95 9.3 54.9 19.48 57.5 109.8 20 117.1 101 1.52 4.28 0.59 211.2 2,500

124.3 92 26 9.43 54.9 19.58 57.5 109.8 20 117.4 102 1.67 4.28 0.59 211.2 2,500

122.3 90.9 25.95 9.3 54.3 19.44 57.5 109.8 20 117 98.5 1.5 4.1 0.59 211.2 2,500

123 90.9 26 9.4 54.6 19.58 57.5 109.8 20 117.2 102 1.67 4.2 0.59 211.2 2,500

587,820 431,920 90,200 100,700 972,330 10,100 190 20 11,100 52,540 159,100 96,000 70,000 100,000 10 5

72,250,777 39,353,173 2,345,085 945,145 53,092,193 197,190 10,925 2,196 222,000 6,156,377 16,005,726 144,910 293,080 59,000 2,112 12,500

INDUSTRIAL

AC ENERGY 11.26 11.28 11.12 11.38 11.12 11.26 10,481,800 118,074,936 30.85 30.9 31 31.1 30.6 30.9 188,600 5,818,455 ABOITIZ POWER BASIC ENERGY 0.62 0.63 0.64 0.64 0.62 0.62 5,973,000 3,728,200 27.45 27.5 27.65 27.75 27.45 27.5 209,900 5,788,400 FIRST GEN 70.25 71 70.95 71 70.2 71 2,620 184,992.50 FIRST PHIL HLDG 299 301 304 304 299 299 55,940 16,797,066 MERALCO MANILA WATER 24.75 25 24.8 25.15 24.8 25 177,700 4,438,320 PETRON 3.13 3.14 3.16 3.16 3.13 3.14 265,000 831,830 4.05 4.2 4.05 4.05 4.05 4.05 2,000 8,100 PETROENERGY PHX PETROLEUM 10.48 10.86 10.86 10.86 10.86 10.86 10,000 108,600 19.5 19.82 19.62 19.9 19.5 19.5 60,400 1,181,790 PILIPINAS SHELL 13.88 13.9 13.9 13.9 13.88 13.9 73,500 1,021,468 SPC POWER 1.15 1.16 1.13 1.17 1.12 1.15 94,050,000 108,180,950 SOLAR PH AGRINURTURE 4.25 4.27 3.95 4.28 3.6 4.27 1,049,000 4,211,630 AXELUM 2.86 2.9 2.85 2.86 2.85 2.86 111,000 316,380 13.2 13.76 13.78 13.78 13.78 13.78 100 1,378 CNTRL AZUCARERA CENTURY FOOD 26.9 27 27.4 27.6 26.7 26.9 3,290,900 88,760,405 DEL MONTE 16.34 16.42 16.4 16.44 16.4 16.42 45,400 745,476 9.03 9.04 9.36 9.36 8.78 9.03 501,100 4,519,775 DNL INDUS 19 19.02 18.98 19.2 18.98 19 1,515,600 28,819,922 EMPERADOR SMC FOODANDBEV 70.1 71.45 70.85 71.45 70 71.45 43,390 3,096,850.50 FRUITAS HLDG 1.22 1.23 1.22 1.23 1.22 1.23 1,572,000 1,918,270 111 113 113 113 110.1 111 4,930 547,136 GINEBRA JOLLIBEE 219 219.6 222 224.8 219 219 105,000 23,193,434 LIBERTY FLOUR 27 28.85 27 27 27 27 200 5,400 6.54 6.65 6.54 6.54 6.54 6.54 11,000 71,940 MAXS GROUP 0.151 0.158 0.158 0.158 0.15 0.158 90,000 14,060 MG HLDG MONDE NISSIN 15.86 15.88 16 16.1 15.86 15.86 3,645,300 58,209,192 SHAKEYS PIZZA 10.38 10.4 9.83 11.2 9.83 10.4 1,308,700 13,886,497 0.63 0.65 0.62 0.65 0.62 0.65 1,907,000 1,182,420 ROXAS AND CO RFM CORP 4.6 4.65 4.65 4.65 4.65 4.65 3,000 13,950 129.4 130 130.1 130.2 129.4 129.4 166,210 21,576,990 UNIV ROBINA 0.69 0.7 0.69 0.7 0.69 0.7 2,377,000 1,642,930 VITARICH 1.04 1.05 1.04 1.05 1.04 1.05 652,000 681,200 CEMEX HLDG EEI CORP 6.65 6.69 6.54 6.95 6.54 6.69 224,600 1,523,470 HOLCIM 5.36 5.5 5.46 5.58 5.3 5.36 27,100 145,869 1.33 1.34 1.34 1.35 1.33 1.34 3,080,000 4,111,890 KEEPERS HLDG MEGAWIDE 5.1 5.11 5.12 5.12 5.06 5.11 57,200 291,639 PHINMA 20 20.25 20.4 20.4 20 20 26,800 542,730 0.77 0.8 0.77 0.77 0.77 0.77 10,000 7,700 TKC METALS 0.93 0.95 0.93 0.93 0.93 0.93 112,000 104,160 VULCAN INDL CROWN ASIA 1.69 1.72 1.72 1.72 1.72 1.72 6,000 10,320 2.31 2.34 2.3 2.35 2.3 2.34 4,769,000 11,159,070 GREENERGY 8.62 8.79 8.7 8.82 8.59 8.62 103,400 899,582 INTEGRATED MICR IONICS 0.7 0.71 0.71 0.71 0.7 0.7 40,000 28,150 5.8 6.01 6 6.01 6 6.01 5,500 33,010 PANASONIC 1.08 1.12 1.12 1.12 1.12 1.12 1,000 1,120 SFA SEMICON 3.84 3.85 3.9 3.9 3.8 3.85 510,000 1,957,820 CIRTEK HLDG

HOLDING & FRIMS

ABACORE CAPITAL AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL AYALA LAND LOG COSCO CAPITAL DMCI HLDG FILINVEST DEV GT CAPITAL JG SUMMIT LODESTAR LT GROUP METRO PAC INV PACIFICA HLDG PRIME MEDIA REPUBLIC GLASS SYNERGY GRID SM INVESTMENTS SAN MIGUEL CORP TOP FRONTIER ZEUS HLDG

0.92 871 56.5 12 6.26 5.17 7.67 7.51 568.5 53.5 0.64 9.9 3.96 2.87 1.1 2.85 13.4 961.5 112.4 120.7 0.166

0.93 872 57.45 12.1 6.28 5.19 7.68 7.98 571.5 53.95 0.67 9.98 3.98 3.16 1.11 3 13.42 963.5 114 129 0.169

0.93 880 58.1 12.1 6.4 5.18 7.72 7.98 566.5 54 0.66 9.86 4 3.23 1.2 2.99 13.5 978.5 114 125 0.17

0.93 880 58.15 12.16 6.45 5.2 7.73 7.98 572 54.05 0.67 10.1 4 3.23 1.2 2.99 13.52 978.5 114.2 129 0.17

0.91 861 56.5 12 6.26 5.15 7.67 7.98 566 53 0.64 9.8 3.95 3.23 1.2 2.99 13.32 961.5 112 125 0.166

0.93 871 56.5 12 6.26 5.17 7.67 7.98 570 53.5 0.67 9.9 3.96 3.23 1.2 2.99 13.42 961.5 114 129 0.166

1,037,000 98,680 263,340 380,900 1,520,500 433,400 1,297,700 1,600 15,620 552,400 29,000 2,715,300 2,689,000 1,000 40,000 23,000 764,000 41,380 52,360 40 1,070,000

949,520 85,756,845 14,997,162 4,583,100 9,611,266 2,242,178 9,980,499 12,768 8,897,580 29,574,247 18,770 27,261,980 10,655,580 3,230 48,000 68,770 10,240,868 39,910,535 5,949,518 5,080 181,620

PROPERTY

ARTHALAND CORP 0.62 0.63 0.64 0.64 0.64 0.64 5,000 3,200 35.25 35.35 35.3 35.4 35 35.25 951,800 33,523,230 AYALA LAND ARANETA PROP 0.94 1 1 1 1 1 6,000 6,000 48.95 49 48.95 49 48.6 48.95 152,400 7,459,195 AREIT RT 1.34 1.39 1.39 1.39 1.39 1.39 3,000 4,170 BELLE CORP 0.78 0.79 0.78 0.78 0.78 0.78 12,000 9,360 A BROWN CITYLAND DEVT 0.72 0.75 0.76 0.76 0.76 0.76 2,000 1,520 0.097 0.104 0.104 0.104 0.104 0.104 10,000 1,040 CROWN EQUITIES 2.73 2.74 2.75 2.75 2.73 2.73 69,000 188,950 CEB LANDMASTERS CENTURY PROP 0.395 0.4 0.395 0.4 0.395 0.4 4,160,000 1,643,500 DOUBLEDRAGON 7 7.02 7.04 7.05 7.01 7.01 135,800 954,536 1.78 1.79 1.79 1.79 1.78 1.79 643,000 1,148,400 DDMP RT 6.76 6.78 6.76 6.78 6.76 6.78 36,700 248,536 DM WENCESLAO EMPIRE EAST 0.255 0.27 0.265 0.27 0.265 0.27 90,000 23,900 0.315 0.32 0.315 0.32 0.31 0.32 10,340,000 3,277,000 EVER GOTESCO 7.39 7.4 7.4 7.44 7.39 7.4 184,500 1,364,921 FILINVEST RT FILINVEST LAND 1.08 1.1 1.08 1.1 1.08 1.1 1,941,000 2,101,680 GLOBAL ESTATE 0.88 0.9 0.88 0.88 0.88 0.88 46,000 40,480 11.16 11.46 11.16 11.6 11.02 11.46 646,000 7,289,144 8990 HLDG 1.12 1.15 1.1 1.12 1.1 1.11 49,000 54,080 PHIL INFRADEV KEPPEL PROP 3.01 3.29 3.06 3.06 3.05 3.05 15,000 45,850 0.86 0.91 0.86 0.86 0.86 0.86 20,000 17,200 CITY AND LAND 3.18 3.2 3.19 3.22 3.16 3.2 14,503,000 46,303,210 MEGAWORLD MRC ALLIED 0.246 0.247 0.247 0.247 0.245 0.246 2,100,000 517,000 18.3 18.32 18.32 18.36 18.3 18.32 1,376,100 25,226,786 MREIT RT 0.51 0.53 0.53 0.54 0.51 0.51 3,801,000 1,978,770 PHIL ESTATES 2.01 2.05 1.89 2.06 1.89 2.05 1,241,000 2,416,550 PRIMEX CORP RL COMM RT 7.47 7.49 7.55 7.55 7.47 7.49 465,700 3,505,550 ROBINSONS LAND 18.58 18.62 18.4 18.62 18.36 18.62 1,156,600 21,444,190 0.206 0.21 0.206 0.206 0.206 0.206 380,000 78,280 PHIL REALTY SHANG PROP 2.59 2.61 2.6 2.61 2.6 2.61 21,000 54,610 2.61 2.89 2.89 2.89 2.89 2.89 5,000 14,450 STA LUCIA LAND 34.55 34.7 35.3 35.3 34.5 34.55 2,196,300 76,017,835 SM PRIME HLDG 1.07 1.08 1.05 1.1 1.05 1.08 25,000 26,750 SUNTRUST HOME VISTA LAND 3.5 3.52 3.49 3.5 3.49 3.5 181,000 632,950 SERVICES

ABS CBN GMA NETWORK GLOBE TELECOM PLDT APOLLO GLOBAL CONVERGE DFNN INC DITO CME HLDG NOW CORP TRANSPACIFIC BR PHILWEB 2GO GROUP CHELSEA CEBU AIR INTL CONTAINER LBC EXPRESS MACROASIA HARBOR STAR DISCOVERY WORLD IPEOPLE BERJAYA BLOOMBERRY PACIFIC ONLINE LEISURE AND RES PH RESORTS GRP PREMIUM LEISURE ALLDAY ALLHOME METRO RETAIL PUREGOLD ROBINSONS RTL PHIL SEVEN CORP SSI GROUP WILCON DEPOT EASYCALL IPM HLDG MEDILINES PRMIERE HORIZON

12.44 13.62 3,350 1,836 0.077 33 2.38 5.08 1.23 0.3 1.87 7.55 1.61 43.45 193.6 21 5.22 0.9 1.8 7.4 6.86 6.36 1.75 1.43 0.74 0.435 0.63 8.44 1.4 38.1 66.7 88 1.12 30.05 4.5 7.04 1.29 0.51

12.46 13.64 3,360 1,844 0.078 33.1 2.44 5.09 1.24 0.305 1.9 7.98 1.64 43.65 194.8 21.95 5.23 0.93 1.87 7.68 6.94 6.39 1.86 1.45 0.75 0.44 0.64 8.54 1.42 38.5 66.75 93.5 1.13 30.1 5.46 7.05 1.3 0.52

12.5 13.62 3,370 1,850 0.08 32.95 2.38 5.16 1.23 0.3 1.91 8 1.6 43.3 197.5 21.05 5.31 0.94 1.8 7.69 6.75 6.25 1.86 1.43 0.75 0.44 0.64 8.49 1.4 38.45 66.5 87.8 1.13 30.4 4.5 7.03 1.35 0.52

12.5 13.7 3,398 1,860 0.08 33.2 2.51 5.16 1.24 0.3 1.97 8 1.65 43.7 197.5 21.05 5.31 0.94 1.88 7.69 7.1 6.36 1.86 1.43 0.79 0.44 0.65 8.55 1.43 38.5 67 87.8 1.13 30.4 4.5 7.06 1.36 0.53

12.46 13.6 3,342 1,833 0.078 32.8 2.38 5.04 1.23 0.3 1.87 7.55 1.6 43.3 193.6 21 5.18 0.9 1.8 7.6 6.75 6.23 1.75 1.43 0.75 0.43 0.63 8.43 1.4 37.85 66.2 87.8 1.12 30.05 4.5 7.01 1.3 0.51

12.46 13.62 3,360 1,836 0.078 33 2.39 5.09 1.24 0.3 1.87 7.98 1.64 43.65 193.6 21 5.23 0.93 1.87 7.6 6.94 6.36 1.75 1.43 0.75 0.435 0.64 8.54 1.43 38.5 66.75 87.8 1.12 30.05 4.5 7.06 1.3 0.51

28,500 61,000 8,150 34,180 33,360,000 3,683,100 165,000 5,772,100 193,000 170,000 178,000 2,700 106,000 21,100 293,270 9,300 282,500 34,000 2,722,000 1,700 128,200 1,051,200 44,000 59,000 476,000 1,040,000 12,791,000 142,200 71,000 325,000 204,520 150 39,000 731,100 1,000 10,200 3,281,000 4,596,000

31,036,620 -22,323,240.50 21,488,303.50 -39,000.00 -3,323,671 1,460,269 8,850 2,112 12,500

23,122,124.00 -2,209,915 3,701,935 -1,011,488 3,602,050 -1,027,490 8,340 -1,052,920.00 -503,840.00 -10,710,165 16,410 61,790 349,374 -2,156,156.00 -17,903 -7,402,374 -11,520,874 -5,219,098 -983,940 -13,275,318 -43,585 -9,198 -2,991,130 1,120 7,600

138,000 -26,125,140 -7,310,694 -2,288,310 -283,816 1,551,047 -1,864,194 12,768 -785,810 -10,355,531.50 -2,148,169 -1,951,090 2,613,736 11,236,370 -2,539,956 -170,000

-3,200 17,610,795.00 5,442,655 4,170 -43,800 -11,850 113,239 12,530 2,630,700 230,668 -1,667,710 53,058 2,220 -2,011,940 -23,430,586 19,710 480,996 -5,515,794.00 -65,920 -25,559,000 13,990

355,874 832,046 27,363,680 62,869,625 2,608,790 121,717,135 401,550 29,235,499 238,270 51,000 344,770 21,545 171,600 919,630 56,963,512 195,320 1,478,116 31,580 4,933,520 12,938 894,282 6,634,057 78,200 84,370 360,620 448,600 8,125,140 1,206,407 99,850 12,427,325 13,662,045.50 13,170 44,000 22,023,675 4,500 71,719 4,310,580 2,373,350

-6,050,190 5,054,095 110,880 14,838,130 4,728,125 -15,000 17,031,668 83,687 1,304,038 -88,500 17,200 157,040 448,928 4,339,515 1,066,523.50 -13,170 42,200 -95,730 268,550

MINING & OIL ATOK 5.51 5.79 5.97 5.98 5.51 5.79 124,000 693,846 APEX MINING 1.37 1.38 1.35 1.4 1.35 1.38 238,000 328,860 ATLAS MINING 5.95 5.96 5.87 5.96 5.87 5.96 1,247,800 7,381,801 5.05 5.15 5.08 5.08 5.05 5.05 62,000 314,900 BENGUET A 2.55 2.79 2.71 2.79 2.71 2.79 70,000 194,500 CENTURY PEAK FERRONICKEL 2.08 2.09 2.07 2.09 2.06 2.09 401,000 832,530 LEPANTO A 0.13 0.131 0.126 0.131 0.126 0.13 7,060,000 912,430 0.009 0.0092 0.0087 0.0092 0.0087 0.0091 34,000,000 305,600 MANILA MINING A MANILA MINING B 0.009 0.0093 0.0093 0.0093 0.0093 0.0093 1,000,000 9,300 1.03 1.06 1.05 1.05 1.03 1.05 95,000 99,530 MARCVENTURES 5.15 5.18 5.14 5.15 5.08 5.15 187,400 960,109 NICKEL ASIA 0.72 0.75 0.72 0.72 0.72 0.72 38,000 27,360 ORNTL PENINSULA PX MINING 4.9 4.91 4.82 4.91 4.82 4.9 153,000 749,210 SEMIRARA MINING 21.6 21.7 21.85 21.9 21.3 21.7 102,700 2,225,955 0.0063 0.0064 0.0063 0.0064 0.0063 0.0064 10,000,000 63,400 UNITED PARAGON ACE ENEXOR 37.6 37.95 37.5 38.95 37.5 37.95 740,000 28,398,495 ORNTL PETROL A 0.01 0.011 0.01 0.011 0.01 0.01 10,100,000 104,400 0.01 0.012 0.01 0.012 0.01 0.011 2,912,700,000 31,310,000 ORNTL PETROL B 0.0088 0.0089 0.0088 0.0088 0.0088 0.0088 1,000,000 8,800 PHILODRILL PXP ENERGY 5.99 6.09 6 6 5.99 5.99 71,900 431,386

4,160 7,683 167,400 451,200.00 -423,666 -83,040 19,520 2,423,890 5,000 -

PREFFERED HOUSE PREF B 99.35 101 101 101 101 101 500 50,500 511 520 514 514 511 511 3,200 1,641,200 AC PREF B2R BRN PREF A 101.2 102.8 102 102.8 101.2 102.8 1,810 183,708 CEB PREF 42.9 43 43.3 43.3 43 43 16,800 725,560 105.8 106 105.6 105.8 105.6 105.8 35,100 3,708,960 EEI PREF B 1,010 1,019 1,010 1,010 1,010 1,010 520 525,200 GTCAP PREF A GTCAP PREF B 1,015 1,047 1,015 1,015 1,014 1,014 2,800 2,839,400 96.1 100 99 100 99 100 760 75,495 MWIDE PREF 2A 99.8 100.5 100.5 101 100.5 101 3,430 345,930 MWIDE PREF 4 PNX PREF 3B 101 102.5 102.5 102.5 102.5 102.5 10 1,025 998 1,000 1,000 1,000 1,000 1,000 865 865,000 PNX PREF 4 1,043 1,072 1,062 1,062 1,042 1,042 2,000 2,101,505 PCOR PREF 3A 79.4 80 79.5 80 79.4 80 22,280 1,775,900 SMC PREF 2F SMC PREF 2H 75.65 75.95 75.95 75.95 75.95 75.95 100 7,595 78 79.7 77.2 77.2 77.2 77.2 134,000 10,344,800 SMC PREF 2I 76.45 77.1 77.1 77.1 77.1 77.1 180 13,878 SMC PREF 2J TECH PREF B2D 53 53.5 53.5 53.5 53.5 53.5 190 10,165 PHIL. DEPOSITARY RECEIPTS GMA HLDG PDR 13.02 13.44 13.02 13.04 13.02 13.02 40,000 520,980 WARRANTS TECH WARRANT 0.85 0.88 0.92 0.92 0.85 0.88 720,000 620,110

-131,680 -665,320 -1,057,000 -

SMALL & MEDIUM ENTERPRISES

-1.02% ALTUS PROP ITALPINAS MAKATI FINANCE MERRYMART

"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

December 24, 2021

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

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

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20.5 1.28 2.45 2.32

21.25 1.31 2.75 2.33

EXHANGE TRADE FUNDS FIRST METRO ETF

109.4

110.8

20.3 1.3 2.48 2.34

21.3 1.31 2.5 2.34

20.3 1.25 2.45 2.31

21.25 1.31 2.5 2.33

57,000 99,000 442,000 631,000

1,178,950 125,900 1,089,240 1,464,390

- 236,570

110.5 110.5 109.4 109.4 9,770 1,077,950 44,200

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Banking&Finance BusinessMirror

LandBank counsels online holiday shoppers vs fraud

TATE-RUN Land Bank of the Philippines (LandBank) urged its customers to be wary of online banking fraud and phishing activities as consumers are expected to shop online this holiday season. Customers should ignore suspicious e-mails, social-media messages, SMS, links and attachments, especially from unknown senders. It also reminds customers to be wary of fake web sites, social-media accounts and fraudulent transactions by checking and verifying the site’s URL, the sender’s e-mail address, social-media account, or phone number, according to LandBank. “As online shopping becomes a more prudent option to limit physical contact during this season, we would like to remind our customers to be on their guard against different forms of cyber fraud. The best way to avoid becoming a fraud victim is to stay vigilant by being familiar with the online red flags,” said LandBank President and CEO Cecilia C. Borromeo. LandBank also advised customers not to share their username or login ID and password to anyone, and keep critical financial information private, including the card number, card expiry date, credit verification

value, and one-time password. It said the bank’s representatives will never ask for critical financial information of its customers. Apart from this, the state-run bank also urged customers to be vigilant of e-mails, text messages, and web sites offering free perks or games in exchange for personal information. Such are designed to steal customers’ hard-earned money and identity. Reminders and best practices to avoid cyber fraud are also being posted regularly on LandBank’s social-media channels, as well as tips on spotting cyberattacks, preventing different forms of phishing, and keeping online credentials confidential, among others. For specific tips on spotting phishing scams, the public is asked to refer to this short video from the Information Security Officers Group: (https://www.youtube.com/ watch?v=y9fvBsOcEvE). Customers are also reminded that the official e-mail addresses of LandBank’s Customer Care and iAccess are customercare@mail.landbank. com and lbpiaccess@mail.landbank. com, respectively, while its official URL is www.landbank.com.

Paying for sustainable growth

Was recent bank hacking a one-off stunt or dry run?

LAWMAKER on Sunday underscored the need for the National Bureau of Investigation (NBI) to swiftly arrest those behind the hacking of more than 700 deposit accounts with the country’s largest bank by total assets.

In a statement, Rep. Michael Defensor of Anakalusugan said authorities should not discount the possibility that the hackers were merely out to stage a “rehearsal” ahead of potentially bigger attacks against other financial institutions. “Was the recent hacking of a bank’s computer system a one-off or a dry run? Were the culprits acting on their own, or were they sponsored by a bigger threat actor?” Defensor asked.

“Until and unless the suspects are apprehended and interrogated in custody, we may never know their real motives, aside from the cybertheft of a few million pesos,” Defensor said. Union Bank of the Philippines (UBP) earlier said it has identified at least six persons suspected of involvement in the hacking of the BDO Unibank Inc. accounts. The hacking was exposed after frantic BDO depositors used social media to report unauthor-

ized Instapay transfers out of their accounts. The stolen funds were later found to have been routed to the fictitious UBP account of a certain “Mark Nagoyo” and subsequently salted away in virtual currencies. “Assuming the suspects are planning further attacks elsewhere, then their capture should effectively thwart them,” said Defensor. “We must also stress that the certainty of getting caught and punished is our best deterrence to other wouldbe threat actors in cyberspace,” Defensor added. BDO has since voluntarily reimbursed depositors affected by the fraud. The bank has also assured clients that it has already put into effect additional security measures to block unauthorized transactions and to protect credentials. “What is clear is that the hackers succeeded in breaching the defenses of a bank’s computer system, and they now have an idea as to how

much time they need to break in and escape with the loot before they are discovered,” Defensor said. Under the law, Defensor said the hackers face the criminal charge of economic sabotage and life imprisonment, on top of paying restitution to victims and a fine of up to P5 million. The lawmaker said Republic Act 11449 has increased the penalties for the unlawful use of electronic access devices such as cards, codes, personal identification numbers (PINs), user names, and passwords, among others. The law amended the Access Devices Regulation Act of 1998 to include additional prohibitions and increase penalties for violation of the law. Earlier, several lawmakers filed resolutions directing the House Committee on Banks and Financial Intermediaries to look into the reported widespread fraudulent online bank withdrawals from clients of the BDO. Jovee Marie N. Dela Cruz

Bernadette D. Nicolas

Perspectives S focus on the ethical, legal and environmental issues related to business has increased, driven by growing concerns over areas such as climate change and diversity, so too has pressure on companies to address them. ESG (Environmental, Social and Governance) factors have become critical to good business practice and are tied to the success and long-term sustainability of companies across all sectors. While we continue to see more and more companies making long-term sustainable growth the focal point of their strategy, there is emerging pressure from investors, regulators, and other stakeholders to push this further and directly link ESG factors with areas of governance such as executive pay. If your company is thinking about incorporating ESG measures into your executive incentive plans, below are some initial questions you may want to consider. Do you need to include ESG measures in your executive incentive plans? In some cases, ESG may be strongly embedded in the company culture and strategy, and this value already embedded in financial measures that are already linked to executive pay. Decisions on KPIs and their relative weighting should take into account the risk of overpaying executives by linking unnecessary ESG measures, while also assessing the potential benefits to company performance, sustainability and reputation. ESG for long-term or shortterm incentives? Although most ESG matters are long-term in nature (normally longer than the performance period for long term incentive plans), you may be able to identify some shorter-term milestones that are measurable and appropriate for either incentive plan. It is important that the timeline of these milestones is aligned with the performance period of your incentive plans, and that the measures set up do not encourage unsuitable behaviors which distort the longer term ESG agenda. How should you include ESG measures? There are pros and cons for each of these methods and investors normally have their own preferences. For example, ISS suggested that ESG matters could be assessed through application of discretion (although bearing in mind that listed companies now need significant disclosure on the basis on which

Editor: Dennis D. Estopace • Monday, December 27, 2021

discretion is exercised). Legal and General Investment Management stated specifically that they would prefer ESG to be incorporated in the form of weighted, clearly measurable metrics. Which ESG measures should be incorporated? One of the key challenges companies face when linking ESG measures to executive pay is deciding what measures to include. Our research shows that Environmental measures are most popular among the FTSE 350 but there is no correct single answer and the appropriateness of any given measure will vary depending on the nature of the business and your unique circumstances. Your chosen measures should align with your wider ESG agenda and fit into your overall business strategy. Investor views also need to be considered. Whatisanappropriateweighting for ESG? While ESG measures are increasingly important, getting your weightings right is a balancing act. Applying a larger percentage to your ESG measure(s) is not necessarily better, but they do need to be material in the overall context of the executive remuneration package. Companies need to be mindful of other performance measures and their weightings and how ESG fits into the overall incentive plan. ESG is clearly an area of growing focus and is here to stay. By linking performance-related pay, businesses show their commitment to long-term sustainability and their intention to encourage their executives to be the driving force in advocating ethical behaviors, creating an ESG aligned culture from the top down, and ensuring that they personally take into account the ESG impact of any decisions they make. Results show that ESG is becoming a vital component of reward strategies across the FTSE 350 and we expect it to remain so over the longer term. The excerpt was taken from the KPMG Thought Leadership publication Paying for sustainable growth. © 2021 R.G. Manabat & Co., a Philippine partnership and a member-firm of the KPMG global organization of independent member-firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. For more information on KPMG in the Philippines, you may send a message via social media or visit www.home.kpmg/ph.

Ping presses govt to hasten digitalization for recovery

EN. Panfilo Lacson, batting for a formula to ensure quick recovery from assorted crisis besieging the country, pressed the Duterte administration at the weekend to fast-track the adoption of digitalization across all sectors. “Facing assorted problems like corruption, crisis in health and economy due to pandemic, and the onslaught of killer typhoons, requires quick response from government agencies,” Lacson said over the weekend.

The lawmaker lamented, however, that “despite the modern technology, delivering efficient service to the people remains slow.” This system, Lacson said, is what he wants to end in seeking the presidency by “pushing digitalization in government services. The standard bearer of Partido Reporma said this will not only “eliminate wrongdoing but also ensure effective delivery of assistance to the people.” Lacson envisions “digital reforms will expand our commu-

Lemery rural bank depositors have until Jan. 3 to file claims

EPOSITORS of the closed Rural Bank of Lemery, Inc. have until January 3, 2022 to file deposit insurance claims, the Philippine Deposit Insurance Corporation (PDIC) announced. The last day for filing deposit insurance claims was moved to January 3, 2022 from November 4, 2021 to allow the depositors more time to prepare the required documents for filing of claims, and to ensure that affected depositors are not disenfranchised with the implementation of community quarantine. Based on latest PDIC data, deposit insurance claims for 194 deposit accounts with aggregate insured deposits amounting to P3.6 million have yet to be filed by depositors. Data also showed that as of November 30, 2021, PDIC had paid depositors of the closed bank the total amount of P55.5 million, or 93.3 percent of the bank’s total insured deposits of P59.5 million. Depositors are advised to file their claims either online via e-mail at pad@ pdic.gov.ph or through postal mail or courier addressed to the PDIC Public Assistance Department, 3rd Floor, SSS Bldg., 6782 Ayala Avenue corner V.A. Rufino Street, Makati City 1226. Claims may also be filed personally at the PDIC’s Public Assistance Center in Makati City on a per appointment basis. To make an appointment, depositors may call the Public Assistance Hotline at (02) 8841-4141 or at Toll Free number 1-800-1-888-7342 or 1-800-1-888PDIC, send an e-mail to pad@pdic.gov. ph, or send a private message at PDIC’s official Facebook page, www.facebook. com/OfficialPDIC. When filing claims through e-mail, scanned copies or photo images of the signed and accomplished Claim Form, evidence of deposit (i.e., savings passbook, certificate of time deposit, etc.), and one valid photo-bearing ID with the depositor’s signature should be attached to the e-mail. Scanned copy or photo image of the first page with account name/number

and last page with account balance, or the front and back portion of the certificate of time deposit should be sent as e-mail attachments. For claims filed personally or via postal mail or courier service, depositors are advised to submit the accomplished, signed and notarized Claim Form, original Savings Passbook and/or Certificate of Time Deposit and photocopy of one (1) valid photo-bearing ID with depositor’s signature. Depositors are further advised that additional documents and/or original copy of documents submitted via e-mail may be required by PDIC, as necessary, in the course of evaluation and processing of claims. The Claim Form can be downloaded from the PDIC web site at http://www. pdic.gov.ph/files/New_PDIC_Claim_ Form.pdf. The Claim Form is free and there is no fee for filing deposit insurance claims. Depositors below 18 years old should mail or submit either a photocopy of their Birth Certificate issued by the Philippine Statistics Authority (PSA) or a duly certified copy issued by the Local Civil Registrar. Representatives of claimants are required to mail or submit an original copy of a notarized Special Power of Attorney of the depositor or parent of a minor depositor. The Special Power of Attorney template may be downloaded from the PDIC website at http://www.pdic.gov.ph/files/ spa_claims.pdf. The PDIC Charter gives depositors two years from bank takeover to file deposit insurance claims with the PDIC. Rural Bank of Lemery, Inc. was taken over by the PDIC on November 4, 2019 after it was ordered closed by the Monetary Board of the Bangko Sentral ng Pilipinas on October 31, 2019. Depositors with outstanding loans or payables to the bank will be referred to the duly designated Loans Officer prior to the settlement of their deposit insurance claims.

nication infrastructure that will pave the way to boost mobile and internet connectivity in the country,” as well as “interoperability in the system of government agencies and the database of the National ID system.” He added it will likewise fast-track delivery of assistance as well as contact tracing during a pandemic. The senator stressed that once government service is digitalized, ‘there will be no more human intervention or control by any individual

or organization that give rise to corruption.” Speaking mostly in Filipino, Lacson pointed out that, besides expediting citizens’ transactions with government, digitalization will “do away with ‘fixers’ if taxes are paid online” as the taxpayers themselves can access government application forms. He noted that this way, Filipinos can also closely monitor government projects and see for themselves how public funds are being spent. Butch Fernandez

Gordon moves to retain WWII heroes in ₧1K bill

ORE voices have weighed in on the central bank’s decision to replace World War II heroes with wildlife in Philippine bank notes. The currency should not set aside its depiction of national heroes in recognition of their bravery and invaluable contribution to the country’s rich history and culture, reelectionist Sen. Richard J. Gordon said on Sunday. Gordon made the statement in response to the Bangko Sentral ng Pilipinas (BSP)’s announcement in phasing out World War II heroes in its experimental P1000 polymer bills set for release next year, in favor of the Philippine eagle. He said the lives of girl scout leader Josefa Llanes Escoda; former Supreme Court Chief Justice Jose Abad Santos who refused to collaborate with the Japanese occupying army, and Gen. Vicente Lim, a West Point graduate, all have “vital lessons for Filipinos,” Gordon said in a radio interview. “Ang salapi ay talagang mahahawakan ng lahat ngmamamayan yan at puwede nating ipagmalaki, maymaikukwento tayo sa salapi pa lamang,” he added. “Many people can see the currency; from our money itself, we already have compelling stories,” the senator said of the three heroes. The P1,000 bank note represents the

largest denomination in circulation and depicted them for their role in the resistance against the invading Japanese. BSP earlier said the new banknote series will focus on the country’s flora and fauna, with a large chance that other heroes may also be phased out. The Philippine eagle, the world’s biggest eagle, is also the country’s national bird. Gordon, a former tourism secretary who led the highly successful “WOW Philippines” promotions here and abroad, underscored the importance of having heroes as role models for future generations. As tourism chief under the Arroyo administration, Gordon underscored cultural preservation as one of his pillars in the “WOW Philippines” campaign, which had bagged international recognition for its effectivity in bringing in tourists to the country. Cultural preservation builds on the Philippines’ heritage, and is being used to teach Filipinos and foreigners alike its national identity, he stressed. Under his watch, numerous historical sites, such as Fort Santiago in Intramuros, Manila, Fort San Pedro in Cebu, Fort Pilar in Zamboanga, and Cotta in Ozamiz City were restored to highlight Philippine history and promote nationalism. Butch Fernandez

Explainer BusinessMirror

B4 Monday, December 27, 2021

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Why did Hong Kong remove

a Tiananmen memorial? By Zen Soo & Ken Moritsugu The Associated Press

T happened in the dead of night. Workers at the University of Hong Kong put up barriers that largely blocked their activity from view and, over the next several hours, took down the towering Pillar of Shame and carted it away early Thursday in a container truck. The 8-meter-tall sculpture, which was taken away in parts, remembered the victims of China’s 1989 crackdown on pro-democracy protests at Beijing’s Tiananmen Square. Its removal is testament to the ruling Communist Party’s efforts to erase the bloody events of that day from the public consciousness. It also comes as the party snuffs out democratic challenges in Hong Kong to its rule. Together they signal the different future that lies ahead for the city of 7.4 million people.

WHAT IS THE ‘PILLAR OF SHAME’?

There is more than one Pillar of Shame. It is a series of works by Danish sculptor Jens Galschioet, all the same height and typically made of bronze, copper and concrete. They have been erected in Hong Kong, Mexico and Brazil, and are designed to remind people of events to ensure they don’t happen again. The one in Hong Kong, which marks the Tiananmen crackdown, depicts a mass of torn and twisted bodies in a tall pile. Galschioet has said the bodies symbolize the devaluation of the individual, and the sculpture expresses the pain and despair of what happened. It was erected in Hong Kong in 1997 during an annual candlelight vigil to commemorate the event. The text at the base of the sculpture reads, “The old cannot kill the young” in English and Chinese. Later, the Pillar of Shame was exhibited at several universities in the city before being placed at the University of Hong Kong on a long-term basis.

WHY WAS THE SCULPTURE IMPORTANT?

China’s Communist Party has worked hard to scrub the June 4,

1989, Tiananmen crackdown from history on the mainland. Authorities don’t allow any memorial and even whisk dissidents out of town so they can’t organize any commemoration around the anniversary. There is no mention of it in the media and the day passes like any other. Hong Kong, because it has greater freedoms than mainland China, together with Macao were the only places in the country that openly remembered those who died when the government sent in troops to end the protest. Until 2019, a massive outdoor candlelight vigil was held every year on the anniversary. Hong Kong authorities have banned the annual vigil for the last two years, citing Covid-19 risks. They have arrested the organizers of the vigil under a tough national security law enacted last year, driving the leaders to disband their group. They have seized materials from a temporary exhibit on Tiananmen that it had set up every year. Through it all, the Pillar of Shame remained standing on the Hong Kong University campus. Now it is gone too.

THE Pillar of Shame statue, a memorial for those killed in the 1989 Tiananmen crackdown, is displayed at the University of Hong Kong, October 13, 2021. AP/Kin Cheung

TIANANMEN 1989 AND HONG KONG 2021

The Tiananmen massacre, in which hundreds and possibly thousands were killed, was a pivotal moment at which a divided Communist Party leadership decided to suppress the democracy movement rather than allow it to grow. In the ensuing years, the party experimented with allowing villagers to vote for their local representatives, but it has maintained its monopoly on power and only those who are loyal to it are allowed to hold office. Hong Kong was a British colony

THE site where the Pillar of Shame statue used to stand is empty after the pillar was removed at the University of Hong Kong, Thursday, December 23, 2021. AP/Vincent Yu

and not part of China in 1989. After its return to China in 1997, it was given partial democracy, with some of its legislature but not the city’s leader chosen by popular vote. Demands for greater democracy sparked massive protests in 2014 and 2019. Demonstrators and police clashed violently in 2019, and

Beijing responded by imposing the national security law in 2020, which has largely silenced political opposition, and revamping Hong Kong’s election system this year to ensure that only “patriots” can run for office. The first election under the new system, held Sunday, returned an overwhelmingly pro-

UNIVERSITY students clean the Pillar of Shame statue, a memorial for those killed in the 1989 Tiananmen crackdown, at the University of Hong Kong Tuesday, June 4, 2019. The monument was boarded up by workers late Wednesday, December 22, 2021, prompting fears over the future of the monument as the city’s authorities crack down on dissent. AP/Kin Cheung

Beijing legislature. The party says it has restored stability. It also has ensured it remains in control.

WHAT HAPPENS NEXT?

Galschioet, the artist, wants the sculpture displayed somewhere else. He said he has offers to display it across from the Chinese Embassy

in Washington, D.C., as well as in Norway, Canada and Taiwan. The University of Hong Kong has not said what it plans to do with the work, which it has put in storage, and said it would seek legal advice on next steps. Galschioet has said he will pursue legal action if necessary to get it back.

More Tiananmen massacre memorials removed in Hong Kong

niversities in Hong Kong are removing memorials to the bloody suppression of the 1989 Chinese pro-democracy movement centered on Beijing’s Tiananmen Square. The Chinese University of Hong Kong early Friday took down the Goddess of Democracy, a statue based on a figure created by art students and brought to the square shortly before the crackdown in which hundreds, if not thousands, of people were killed. The removal of the monuments testifies to the ruling Communist Party’s efforts to erase the bloody events from the public consciousness. It also comes as the party snuffs out democratic challenges in Hong Kong to its rule. On Thursday, a monument at the University of Hong Kong was dismantled, wiping out one of the city’s last remaining places of public commemoration of the crackdown.

A UNIVERSITY student writes notes at the site after the Goddess of Democracy statue, a memorial for those killed in the 1989 Tiananmen crackdown, was removed at the University of Hong Kong Friday, December 24, 2021. The Chinese University of Hong Kong early Friday morning took down the statue based on a figure created by art students and brought to the square shortly before the crackdown in which hundreds of people were killed. AP/Vincent Yu

The government has never provided a figure on casualties and the pro-democracy movement remains a taboo topic in mainland China. Hong Kong and Macao, the two semi-autonomous territories, were the only places on Chinese soil where commemorations of the crackdown were allowed until authorities banned annual candlelight vigils for two consecutive years. In a statement, Chinese University confirmed the removal of the statue and said it had never authorized its display and that no organization has claimed responsibility for its maintenance and management. Separately, Lingnan University also removed a bas relief memorial wall display dedicated to the memory of the June 4 movement. The university’s decision was predicated on the “overall protection of the university community after a recent assessment,” government-run Hong Kong Radio Television reported. AP

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BusinessMirror

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Editor: Gerard S. Ramos

• Monday, December 27, 2021

Make the Yuletide Gay CLOCKWISE: Jeremy O. Harris in Emily in Paris 2 (NETFLIX); Brazil’s Grag Queen in Queen of the Universe (@ RODOLFOMAGALHAES); Tom Cruise and Brad Pitt in Interview with the Vampire (GEFFEN PICTURES); Jennifer Coolidge, Michael Urie and Philemon Chambers in Single All the Way (NETFLIX); Kodi Smit-McPhee in The Power of the Dog (NETFLIX).

ATHLETES Benjie Paras (from left), Anton Asistio and Andre Paras with MJ Sazon of ANTA PH

GLOBAL SPORTS BRAND ANTA OPENS NEW STORE PUMPING things up, ANTA Philippines recently open its newest store in Robinsons Place Manila with lots of surprises in store for sports and basketball enthusiasts. First on the list is the launch of NBA superstar Klay Thompson’s signature shoe, the KT7. With the design concept “above the waters,” KT7 reflects Thompson’s on-and-off-the-court power of penetrating through the hardest barriers and toughest battles. It can be recalled that Thompson suffered from an ACL injury during the 2019 NBA finals, and also tore his Achilles tendon just before the 2020-21 season started. But it seems we’re going to see him back in action soon. According to the report of ESPN’s Nick Friedell, the Golden State Warriors has assigned the basketball superstar to its G-league affiliate to receive practice time while he continues with his rehabilitation program. Now, the latest edition of his signature shoe is expected to delight his fans who are patiently waiting for his return. For the look of its signature Blank Space colorway, KT7’s whole body is white, with a brush of green on cuff. The side is made of nylon, resembling a stroke of calligraphy on Chinese art paper. The shoe’s all snowwhite parts highlight salient features of science and technology. Aside from the signature color Blank Space, KT7 also comes in two other color variants: The KT7-Rocco and KT7 Night Storm. KT7-Rocco takes full-printing patterns with the whole body covered with portraits and food images of Rocco—Thompson’s dog—with faint effects appearing indistinctly. For KT7 Night Storm, its color scheme reminds one of violent storm at night. It is similar to Thompson’s attack on the court, which is as fierce as strong wind and heavy shower. To make it more elastic, KT7 features NitroSpeed for better energy return and Smart S.A.M for better cushioning. Part of the ANTA 3D Flow System, Smart S.A.M refers to shock absorption molecule, and fluid, bulletproof materials that can absorb 99.4 percent of impact to reduce the burden on ankles and knees to a great extent. It also uses lower heights, and thin and breathable material for comfort. For stability, KT7 uses parametric for better traction and liquid rubber for better grip. “Our latest store is not only a surprise for Dub Nation but also to Filipino sports fans in general. From the new KT7 to the latest sports apparel, accessories and footwear, ANTA Culture has always been about spreading the soul and the spirit of modern sports to the world,” said JP Paglinawan, AvidSports Philippines general manager. The new gym-lounge-inspired ANTA store is located at the second floor of Robinsons Place Manila’s Padre Faura Wing. Offering a relaxed and cozy atmosphere, it is also the first G10 ANTA Concept Store in the Philippines.

‘I

T’S the most wonderful time of the year! With the kids jingle-belling! And everyone telling you be of good cheer!” Supposedly. Typhoon Odette came a-visiting. And the street near mine was razed to the ground. A nightmare before Christmas. But still: “It’s the hap-happiest season of all! With those holiday greetings and gay happy meetings!” The gloom and doom are no match for old-fashioned, feel-good gaiety. Here are some wonderful things to consider as coping mechanisms, Odette and Miss ‘Rona be damned: n MUSIC. There’s a new power friendship brewing: Elton John, Britain’s other queen, is praising his “intelligent” new friend and collaborator Lil Nas X for coming out in the “homophobic” hip-hop arena. But the bigger gag is the Eurovision-Drag Race mash-up, Queen of the Universe. High octave, high heels, high drama and high stakes with a whopping $250,000 in prize money. The all-drag, all-live singing competition is hosted by Graham Norton, the real King of Talk. Fourteen international queens are judged by an all-pop diva panel (Vanessa Williams, Trixie Mattel, Michelle Visage and Leona Lewis) on their WAP—what they’re wearing, all-star attitude and performance. Some in the super-talented cast have competed in major singing shows and have won pageants: American Idol (Ada Vox from Texas), Miss Gay Black America 2018 (Aria B Cassadine of Atlanta), Miss Continental Plus 2018 (Chy’enne Valentino of Chicago), X Factor UK (Gingzilla of Australia), double Drag Race All-Stars (Jujubee of Laos/Boston), Britain’s Got Talent (La Voix of London), Chile’s The Switch (Leona Winter of France), and Mr. Gay India 2014 (Rani-Ko-He-Nur of Mumbai). The queens know that the show offers a huge platform. They carry the weight of expectations of gay people in their countries on their shoulders. As they showcase their WAP, they also highlight LGBT issues, like a trans person’s life expectancy in Brazil is said to be 35 while there are no safe drag spaces in India. We’re now down to the Tough 3: Ada Vox, Aria B Cassadine and Grag Queen from Brazil. A missed opportunity for Queen of the Universe is casting a Pinay power belter like Anton Diva, and this show would have been as big as Miss Universe. n FILM. The Oscar contenders feature strong representations of LGBT characters. Steven Spileberg’s West Side Story has Anybodys (a transgender portrayed by nonbinary actor Iris Menas) while gay actor Robin de Jesús plays Michael, the gay best friend in tick, tick...Boom! And The Matrix Resurrections, by trans director Lana Wachowski, is unabashedly a trans allegory. I watched Jane Campion’s The Power of the Dog fully anticipating Benedict Cumberbatch’s powerhouse performance. I got whiplash from Kodi SmitMcPhee’s instead. I didn’t read any reviews nor any synopses so I didn’t know their characters’ closeted and unapologetic gay orientations,and just like with Moonlight, I was pleasantly surprised. For his chilling portrayal of Peter, Smit-McPhee has won best supporting actor prizes from the New

York, Chicago and Los Angeles film critics, and is nominated for a Golden Globe. He will next star in the Elvis Presley biopic from Baz Luhrmann. n BOOKS. Anne Rice, the gothic writer whose subjects were vampires, witches and Jesus Christ, died recently at 80. Her homoerotic series, The Vampire Chronicles, remains an all-time favorite. When Interview with the Vampire, starring Tom Cruise as Lestat de Lioncourt and Brad Pitt as Louis de Pointe du Lac came out, I was first in line at SM City. Long before her son Christopher, also a successful novelist, came out as gay, Rice was a steadfast LGBT ally. “I don’t sit down and think, I’m going to write about gay characters, or I’m going to write about a homoerotic theme. It just keeps happening in my work pretty naturally,” she told The Advocate in 2000. In 2010, she declared, “I refuse to be antigay. I refuse to be antifeminist. I refuse to be anti-artificial birth control.” JK Rowling, what’s good? n FASHION. Tony-nominated playwright Jeremy O. Harris plays Pierre Cadault rival and fashion enfant terrible Gregory Elliott Duprée in Emily in Paris Season 2. He stages a fashion show at Versailles, the Marie Antoinette-themed “Let Them Eat Cake!” As co-costume designer Marylin Fitoussi (with

the legendary Patricia Field as costume consultant) told Fashionista.com, she put her attention toward a “macaron palette” to custom-dye the shapewear she and her team built and sourced. Body-positive concept brand AZ Factory, founded by the late Alber Elbaz, also sent her some stock. The late great Joe Salazar would’ve been delighted. He created a terno with a caged petticoat for Miss Israel Ravit Yarkoni for a Santacruzan side event during Miss Universe 1994, which angered conservatives in Congress. n NETFLIX. “I’m so glad representation has finally progressed far enough that we too can have terrible Hallmark movies about us, the gays,” said one comment about Single All the Way, starring gay actors Michael Urie and Philemon Chambers as best friends who pretend to be lovers until they realized that they were in love with each other. I loved it because it has Luke Macfarlane (a fave Hallmark leading man, also Wentworth Miller’s ex) and every gay obsession, Jennifer Coolidge (the new queen of Christmas). The rom-com was reviewed on the Katya and Trixie Watch show on YouTube, where the drag queens read films for filth. And you know that you’ve gone overboard when Katya says, “I’m gay, but I’m not that gay.” n

afterward. The cap is already pre-moistened so it’s not messy to use. n PINK VERA LIP BALM: This lip balm would make a great gift for anyone who loves pink because the actual product is, well, pink. The texture is waxy instead of oily and it doesn’t leave a film on the lips (this is a dealbreaker for me). It was moisturizing for me. n FARMSKIN FRESH FOOD MICELLAR CLEANSING WATER

(POMEGRANATE) FOR DRY SKIN: I use micellar water before cleansing my face. In the morning, I wipe my face with a reusable pad with micellar water instead of washing my face with soap and water. Of course, I also use micellar water to remove my makeup. Farmskin Fresh Food Micellar Cleansing Water didn’t sting my skin and this was a big pro for me. It was simple and uncomplicated to use. According to Farmskin, Pomegranate Micellar Cleansing Water is “infused with the patented formula “Red Snow” and five more botanical ingredients to provide long-lasting moisture and energy to the skin. The Red Snow formula is made with ingredients from steam extracted camellia petals.” n FRESH FOOD AVOCADO CICA SUN STICK: This chemical sunscreen comes in a stick form, which I love as it makes application so easy if you’re in a hurry. With an SPF 50+ PA++++, the product, according to Farmskin, doesn’t just offer sun protection, but also soothes the skin and has antiaging properties. I also liked the waterdrop-shaped design, which made for easy application. The feel was smooth and silicone-y and it didn’t pill when used with other products, including makeup and skin care. n PUZZLE SOAP SET: I got several small soaps in puzzle shapes, which can be joined to form a bigger bar. This would be a fun gift for anyone as the soaps come in different colors and variants so you’d end up with a colorful puzzle bar The products are well-priced; nothing is above P700. Check them out at www.shopee.ph/farmskin?smtt=0.0.9.

A farm-to-skin beauty concept

WHOEVER is in charge of packaging at Farmskin, a brand of skin care and personal care products from South Korea, deserves a bonus because the packaging conveys what the brand is all about. One of the things I love about Farmskin is how the products are packaged. It’s like you bought food, not beauty products. This is spot-on since the brand claims to use natural ingredients. Farmskin claims to be cruelty-free and ethically conscious in all its processes and practices. The brand also says it does not use six ingredients in any of its products. These are Triethanolamine, Ethanol, Methylparaben, Benzophenone-3, Talc and Butylparaben. So I received a bunch of products from the brand and I

got to try some of them. Here are the ones I really loved: n FARMSKIN FRESH FOOD HAIR MASK APPLE AND GRAPE: Initially, I thought this would be a cream or serum to be applied on the hair. It turned out to be a cotton-textured elastic fabric that you put on like a cap on shampooed and towel-dried hair. You leave the cap on for around 30 minutes and rinse the product off. I liked this because of the concept and how moisturizing it was without making my hair greasy

NEW ways to approaching skin care and personal care from South Korea. PHOTOS: JULIANA MAXINE C. VASQUEZ

B6 Monday, December 27, 2021

PhilHealth holds first Members Summit to boost awareness on benefits and services

Hyundai Phils. honors the New Normal Champions of the PC Dealership Network Hyundai Alabang, Muntinlupa, Hyundai Cebu North, Hyundai Cebu South, Hyundai Cabanatuan City, Hyundai Cagayan de Oro, Hyundai Naga City, Hyundai Lipa Batangas, Hyundai Tacloban Leyte, and Hyundai Dumaguete, Negros Oriental. Resilience Award for After Sales: Hyundai Alabang, Muntinlupa, Hyundai Las Piñas, Hyundai Dagupan Pangasinan, and Hyundai Pagsanjan, Laguna.

TATE agency Philippine Health Insurance Corporation (PhilHealth) recently held its very first PhilHealth Members’ Summit with the theme “Benepisyong PhilHealth: Maaasahan, Saanman, Kailanman” in line with its intensified information dissemination efforts even during the pandemic. Speakers during the three-day virtual forum thoroughly explained PhilHealth’s inpatient, outpatient and special benefit packages available to the members and their qualified dependents. In addition, its Z Benefits and primary care benefit package under Konsultasyong Sulit at Tama or PhilHealth Konsulta were also presented in addition to must-know information on membership, registration and contribution payments.

Efforts in addressing the financial burden brought by the pandemic through COVID-19 benefit packages had been presented. These packages include testing, isolation, inpatient care, and vaccine injury compensation for those who will suffer serious adverse effects arising from inoculation for the virus. PhilHealth President and CEO Atty. Dante A. Gierran assured members that PhilHealth is always ready to assist all Filipinos in times of hospitalization due to ill health. “Nandito po ang PhilHealth upang maging kaagapay ninyo sa oras na kayo ay magkasakit at mangailangan ng pagpapaospital,” Gierran declared. Around 300 participants joined the virtual forum that was also streamed via Facebook Live for the benefit of members in the provinces and even abroad.

Resilience Award for Sales:

TOP OVERALL WINNERS OF HYUNDAI’S DEALER RESILIENCY AWARDS: (top to bottom) Champion-Hyundai Alabang Muntinlupa; First Runner Up-Hyundai Commonwealth Avenue; Second Runner Up-Hyundai Dumaguete Negros. President and CEO Ma. Fe Perez-Agudo and the family of the late HARI Chairman Edward Go, Mrs. Pacita Go and daughter Christine Go (right) presented the Edward S. Go Award to the three dealerships for having shown outstanding courage, determination, and creativity to meet, if not exceed, their targets despite the odds of conducting business in the new normal.

YUNDAI Asia Resources, Inc. (HARI), the country’s official distributor of Hyundai passenger cars, capped its 20th year celebration with the Hyundai Dealer Resiliency Awards for Passenger Cars. Aware of the numerous challenges that its dealership fortress has and continues to face in these challenging times, dubbed the New Normal, HARI tailored this recognition to celebrate the dealership teams that have shown outstanding courage, determination, and creativity to meet, if not exceed, their targets despite the odds of conducting business from January 2020 to September 2021, the Year of the Resilient. In her message of congratulations, HARI President and CEO Ma. Fe PerezAgudo said, “Not all heroes fly around in capes. And they come in all shapes and sizes. They even feel afraid and sometimes stumble in all this uncertainty. But one thing is certain, they never back down. And, in difficult times, forging on and doing what must be done is already superhuman.” Thirty-nine resilience champions in six major categories were honored last December 15 at the virtual awards

ceremony. The Edward S. Go Award, inspired by HARI’s late chairman of the board, was presented to the dealerships that have proven their mettle in all key areas of the business: Sales, After Sales, Marketing, Parts, and Customer Relations. Chairman Go, who passed away on August this year, was admired and respected for his keen business savvy and, more importantly, for his firm stand on ethical practice as the key to business sustainability. Following is the roster of awardees: For Edward S. Go Award, Champion: Hyundai Alabang Muntinlupa, First Runner Up: Hyundai Commonwealth Avenue, Second Runner Up: Hyundai Dumaguete Negros Oriental.

Department Awards, Resilience Award for Customer Relations Management:

HYUNDAI Cebu North, Hyundai Batangas City, Hyundai Dagupan, Pangasinan, and Hyundai La Union. Resilience Award for Parts Operations: Hyundai Commonwealth Avenue, Hyundai E. Rodriguez, Hyundai Baliwag Bulacan, and Hyundai Pagsanjan Laguna. Resilience Award for Marketing:

HYUNDAI Commonwealth Avenue, Hyundai Las Piñas, Hyundai Naga City, and Hyundai Dumaguete, Negros Oriental.

Special Awards

THE Guardians of GPS award recognizes the dealerships who have excellently implemented Hyundai’s Guidelines for Protection and Safety (GPS) in their daily operations. And the winners are: Hyundai Cabanatuan City, Hyundai Biñan, Laguna, and Hyundai Baliwag, Bulacan. The Fleet Sales Champion Award celebrates exemplary teamwork in closing the biggest fleet sales in 2020-2021. The winners are Hyundai Alabang, Muntinlupa, Hyundai Pasig City, Hyundai Biñan, Laguna, and Hyundai Pagsanjan, Laguna. The Service Caravan King is the dealership that has consistently taken the Hyundai ownership experience of “right care, everywhere” from the dealership to the customer’s doorstep. The winners are Hyundai Commonwealth, Avenue, Hyundai Cagayan de Oro, Hyundai Santiago City, and Hyundai Tagbilaran, Bohol. To close the event, Ms. Agudo emphasized, “After 20 years of operation in the Philippines, it gladdens the heart to see how the HARI Dealership Family has matured and toughened up in the bold and innovative spirit of our brand. Congratulations to our resiliency champions! Truly, you are Hyundai heroes in the new normal!”

Pandemic-born takoyaki business goes nationwide after closing its first year with over 30 branches

OR small business owners, milestones are good indicators of their growth as entrepreneurs. Otako Monsta just hit a major one as they celebrated their first year anniversary. They also celebrated the success of a similar Japanese street food concept called Crazy Tori, which was simultaneously conceptualized and launched last July 2021. “This event is our way of showing gratitude to everyone who has been with us every step of the way and we look forward to more fruitful years with you as our partners,” Co-founder Gian Franco Go said as he welcomed guests. The gathering was filled with music, good food, and drinks to celebrate their partners that have greatly contributed to their success as a company. Sharing their love for Japanese food inspired a group of young entrepreneurs to launch their business at ILEA Christmas Bazaar last December 2020 in Iloilo City. Bringing the same quality and taste of Takoyaki found in Osaka, Japan, has always been at the core of their business. Their offerings are competitively priced at P99 for 6 pieces, and are only made with real seafood ingredients. Seasonal product introductions keep their menu updated and exciting. The brand

BENEFITS Development and Research Department Acting Senior Manager Dr. Mary Antonette Remonte discusses updates on PhilHealth Special Benefits.

Grab knows no borders, lets every Juan celebrate Paskong Pinoy with Padalove

OR Filipinos, family reunions make up a big part of the Christmas magic. However, limits to international travel and movement make it nearly impossible to get together once more. Grab hopes to close that gap through 100+ Cities Delivery. With this new feature, consumers can now look forward to sending anything from food, and presents to their loved ones living overseas as it introduces cross-border gifting to let users show their appreciation to them. Launched on November 22, 100+ Cities Delivery will enable Filipinos to send their love with GrabFood and GrabMart to 148 cities throughout the Philippines and Southeast Asian countries such as Malaysia, Thailand, Indonesia, Singapore, and Vietnam, making it easier for families to celebrate, stay connected, and feel the Paskong Pinoy spirit together again. Grab continues to make it possible to

SeedWorks PH’s US 88 dominates rice competitions in major rice-producing provinces in the country in 2021

PHOTO UPPER LEFT (LEFT TO RIGHT): Gian Franco Go, Nicole Andrea Tedoco, Hon. Julienne “Jam” Baronda, Jida Huetea, Xyra Lois Javellana, Rod Kenneth Delfin; Photo lower left (left to right): Gian Franco Go, Nicole Andrea Tedoco, Celine Syching , Xyra Lois Javellana, Rod Kenneth Delfin is best known for Monsta — Takoyaki filled with scallops, shrimp, cheese, and topped with baby octopus. They’re also the first to introduce matcha dessert balls, perfect to be paired with Takoyaki, for the same price. Those looking for a snack do not have to look far because Otako Monsta is widely available in Visayas and Mindanao. It ended their first year in operation with 32 branches and plans to double it to 60 stores nationwide by the end of 2022. The group kicked off their expansion to Luzon, opening a branch

in Cavite last October 2021. Takoyaki lovers can expect more branches in NCR in the first quarter of 2022. Otako Monsta offers a competitive franchising package and has a proven business model with their strategically planned mall branches attaining 5-6 months ROI — beating initial forecast of 8-12 months. If you love Takoyaki and want to share the gift of good food to people around you, you may reach out to their official Facebook page at https://www.facebook.com/OtakoMonsta to apply for a franchise.

find the picture-perfect presents with its extensive catalog of holiday staples and gifting options available on GrabFood, GrabMart, and GrabExpress. “There is no Christmas in the world quite like ours, with our kababayans putting a lot of effort into festive celebrations. As we enter another Christmas under the pandemic, we see the need to keep families connected so we can still experience our nakasanayang Pasko. We hope that through Grab, we are able to help light up not just Filipinos’ homes, but also our classic Filipino Christmas spirit,” says Grace Vera Cruz, Grab Philippines Country Head. Padalove your Christmas wishes and gifts to your family and friends this holiday season with Grab today, and bring back the holiday experience you treasure with your loved ones. Visit the Grab app to see its various Padalove offers, and be sure to check Grab Philippines’ Facebook and Instagram for updates.

EEDWORKS Philippines’ US 88 has again dominated two important hybrid rice derbies, further cementing its market position as the top high-yielding hybrid rice variety in the country. SeedWorks’ US 88 bested other hybrid rice varieties from eight other seed companies in the Hybrid Rice Varietal Derby at the Central Luzon State University (CLSU) compound in Muñoz, Nueva Ecija. The hybrid rice derby was organized by the Department of Agriculture (DA) – Regional Field Office III (DA-RFO3) in collaboration with CLSU, the Philippine Rice Research Institute (PhilRice), and the Provincial Agriculture Office of Nueva Ecija. The Hybrid Rice Varietal Derby was aimed at showcasing the potential of different hybrid varieties and identifying best cultivation practices. It was launched under the national agriculture department’s rice resiliency project—Ahon Lahat, Pagkaing Sapat Kontra Covid-19 program—covering the dry season from 2020 to 2021. In the said derby, US 88 was declared the highest yielder after it recorded an average yield per hectare of 9.45 metric tons, which was significantly higher than the second placer that had 7.81 metric tons and the third placer that yielded 7.07 metric tons.

Supporting PH agriculture goal

“WE are continuously supporting the country’s goal of ensuring sufficient supply

of locally produced rice with the highyielding varieties we offer, particularly US 88 which is also a premium long grain rice,” said SeedWorks Philippines President Carlos Saplala. “The company actively participates in rice demos and competitions to further showcase US 88’s potential to help make farmers more productive despite all the natural and unexpected challenges that come our way.” Earlier this year, SeedWorks also rolled out a program to further assist its partnerrice farmers by facilitating the link between them and various millers who agree to buy US 88 palay (unhusked rice produce) at prices that are P1 higher compared to the average local prices. The initiative has also paved the way for the wider commercial distribution of milled US 88 rice in standard 25-kilogram sacks to retailers, which sell the commodity to consumers.

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Monday, December 27, 2021 B7

Lessons from the Korean Wave A

PR Matters

By Abigail Ho-Torres

LITTLE over a year ago, my dear friend and fellow active PR Matters contributor Joy Buensalido wrote about some things our creative industry can learn from K-dramas. Last week, I tackled Korea’s “soft power” strategy, and how Hallyu, or the Korean Wave, is right smack in the middle of it. Let me bring this year’s PR Matters series to a close by summarizing those learnings and relating them to the wonderful world of public relations. Let’s focus on these three things: foresight, collaboration and cultural invasion. These are among the points that are usually mentioned when discussing how Korean pop culture has, slowly but surely, penetrated almost every region in the world. And I’m only saying “almost,” as I’m not counting Antarctica as a continent that Hallyu has reached—but we never know, right?

IN a spirited panel discussion at the Students’ PR Con mounted by the Public Relations Society of the Philippines (PRSP) last month, award-winning director and Hallyu aficionado Jose Javier Reyes mentioned how much foresight the Korean government and its creative industries had when they were just laying down the strategies for what we now know as Hallyu. Local film producers, in contrast, expected immediate returns on their investments without looking ahead and planning for potentially bigger returns in the future, he said. In the case of the Korean creative industry, it took some two decades for both the government and the creative industries to really reap the rewards of all their planning and hard work. And now even their consumer durables and fast-moving consumer goods industries are cashing in on the success of Hallyu. For communication professionals like us, foresight is equally important for the success of any campaign, program, or engagement. This is precisely why we spend hours crafting communication plans, mapping our stakeholders, identifying the most appropriate platforms, and making sure our messages are aligned with our objectives and audience characteristics. And these plans are not mere one-offs or standalone creations, but linked to bigger goals: of the greater organization to which we belong or of society and the world at large. Even during crisis situations, when we need to think on our feet and act swiftly and decisively, a lot of foresight is still involved. Long before a crisis strikes, we already have our business continuity plans in place, geared toward addressing various kinds of crises that may hit our organizations at any time and without warning. We plan for all sorts of scenarios, even as we fervently pray that these never happen.

Travel: AirAsia Philippines resumes Domestic Routes post typhoon Odette, focuses on relief operations MANILA, PHILIPPINES— AirAsia Philippines has announced on December 20 that all its domestic flight routes

have fully resumed with the exception of Puerto Princesa as on-ground communications continue to be a challenge in the province following the impact of Typhoon Odette. Currently, the airline is working closely with various organizations to provide assistance in the delivery of essential relief goods and services to badly affected areas, having airlifted more than 20 tons of items since December 17. Relief items are being con-

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Foresight

Collaboration

MULTISECTORAL collaboration is something we can learn from the Hallyu phenomenon as well, particularly the close partnership between the government and the various industries involved in the whole Hallyu universe. In an article on the Carnegie Endowment for International Peace web site, University of Chicago PhD candidate Jenna Gibson, who used to be a communication director at the Korea Economic Institute of America, wrote: “South Korean governmental support for the creative industries dates back to the early 1990s. Through policies like encouraging corporate investment and vertical integration in the film industry and slowly removing barriers like screen quotas for foreign content, the South Korean government laid the groundwork. This entailed providing stable financial footing while also encouraging South Korean creatives to innovate and compete with their international counterparts. “These early policies were particularly focused on bolstering the South Korean entertainment industry’s export potential. At times, this government support has been misinterpreted as the South Korean government supposedly creating the wave of popularity that South Korean pop culture has garnered as it has gained prominence all over the world. But it would be more accurate to say that Seoul created an environment in which the movie, television, and music industries were able to thrive.” In the world of PR, there is al-

solidated at the cargo house in partnership with AirAsia Teleport and will be flown to affected areas maximizing the cargo spaces in the commercial flight. It can be remembered that during the onslaught of Typhoon Odette, 198 of the airline’s domestic flights have been canceled or postponed in lieu of the assured safety of the guests. The cancellations and delays in flights have affected an estimated 30,000 passen-

ways a need to collaborate. While we are the ones who steer the ship when it comes to communication strategy, we will not be able to move the ship forward if other business units do not move with us. As PR practitioners, we cannot live in a silo.

Cultural invasion

MY own “conversion” to Hallyu was what inspired me to write this two-part column. For more than a year now, I’ve been consuming all kinds of Korean stuff: food, skincare products, and cosmetics. And this consumption was driven largely by my addiction to K-dramas, which has spawned a girly crush on a former-idol-turned-actor, and has led me to watch hours upon hours of YouTube videos of anything and everything he has appeared in. And don’t even get me started on the CDs, DVDs, and other merchandise that I ordered straight from Korea. Oh, and I can now read Korean, although very, verrrryyy slowly. This is the kind of cultural impact Hallyu has had on people. I do not even consider myself a super fan. I know people who followed BTS in one of their concert tours; who wrote a PhD paper on BTS; who established fan groups—even a massive one with global following—for their K-pop idols. How Korean culture has invaded our shores and the rest of the world! As communicators, we do not seek to change cultures, but we do aim to have an impact on perceptions, reactions, behaviors, actions. Through our programs and campaigns, we seek to turn the tide of public opinion in our

gers from December 16 to December 19. The airline mounted two recovery flights from Manila to Cebu on December 19 catering to almost 1,000 passengers. Guests affected by flight delays and cancellations from Manila to Puerto Princesa may also avail of a recovery flight to the province on December 23, 2021. AirAsia Philippines has also established help desks that are available in local airports such as those located in

organization’s favor. We engage with stakeholders so we can work with them for the good of our organization, our cause, or whatever it is we are pursuing. By telling our stories in an engaging manner, with the use of audience-appropriate platforms, we somehow get other people and organizations to want what we want—like how the father of the “soft power” theory, Joseph Nye, succinctly explained the concept. Let’s always be open to learning from other industries and other cultures. It is only when we broaden our perspective that we truly grow, both as communicators and as individuals.

Typhoon Odette ‘bayanihan’ efforts

AS the rest of the world prepares for their respective holiday festivities, many of our kababayans are reeling from the aftermath of Typhoon Odette. Parts of Luzon, Visayas, and Mindanao were badly hit, leaving hundreds homeless, just days before Christmas. It is during times like these when the Filipinos’ bayanihan spirit really shines through. The organizations of some of our Ipra Philippines members are heavily involved in providing aid to Typhoon Odette survivors. The MVP Group of Companies, to which my company belongs, and ABS-CBN Corp., of which our member Kane Errol Choa is a vice president, held fund-raising telethons last Thursday, in partnership with their respective foundations. Each company in the MVP Group also provided millions in cash and goods donations, as well as manpower to conduct repairs

Mactan, Puerto Princesa, and Bohol. AirAsia Philippines spokesman Steve Dailisan said, “Although we are faced with a lot of challenges, especially our Allstars who were also affected by the typhoon, we continue to soldier on to ensure that we continue to service our guests the best possible way during the peak season.” “We are alwaysREDy to extend whatever help we can to our Kababayans. It is our

on downed power facilities and equipment and personnel to produce potable water. Companies under the JG Summit Holdings Inc. umbrella, the organization to which Ipra PH member Red Samar belongs, donated grocery bags and go-bags, especially to Cebu, where founder John Gokongwei Jr. traced his roots. The SM Group, where our Millie Dizon serves as a senior vice president, turned some of their malls into temporary shelters and also donated thousands of relief packs to various areas badly hit by the typhoon. Many other conglomerates, companies, nongovernment orga ni zat ions, a nd ind iv idu a ls have mobilized their respective resources to help alleviate the sufferings of our kababayans. After all, giving, like how God gave His own Son to die for our sins, is what Christmas is all about. May we all have a healthy and safe 2022! PR Matters is a roundtable column by members of the local chapter of the United Kingdom-based International Public Relations Association (Ipra), the world’s premier organization for PR professionals around the world. Abigail L. HoTorres is AVP and head of Advocacy and Marketing of Maynilad Water Services Inc. She spent more than a decade as a business journalist before making the leap to the corporate world. We are devoting a special column each month to answer our readers’ questions about public relations. Please send your questions or comments to askipraphil@gmail.com.

prayer that they stay hopeful and blessed despite the many challenges that come our way.” Post-Typhoon Odette, AirAsia Philippines has doubled down on restrategizing flight routes and communications with local government units and airports for the speedy restart of flight operations. For those affected by flight cancellations may avail of moveflight privileges or credit account claims via AirAsia’s virtual assistant AVA.

Sports

Hanoi SEA Games preps in high gear

BusinessMirror

| Monday, December 27, 2021 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

LIVE FANS WITNESS ‘CLASICO’ By Josef Ramos

HE Smart Araneta Coliseum wasn’t even 50 percent capacity on Christmas Day but the cheers from 4,843 fans spread out over the cavernous arena were enough to champion the return of live basketball action amid the Covid-19 pandemic that stubbornly refuses to go away just yet. “It’s been a long time, it’s almost two years since I watched a live game,” Damian Bulusan, 59 and a librarian at the Technological University of the Philippines, told BusinessMirror on Saturday night from his seat in the Lower Box section. “I’m really hoping that the pandemic will finally end,” added Bulusan, who paid a discounted rate of P175 for his ticket. “The feeling is very great, so happy…I watched the games for almost two years on YouTube at home,” Bulusan’s team, the ever fanfavorite Barangay Ginebra San Miguel, lost to Magnolia, 94-117, in what is now dubbed the “Manila Clasico,” a Christmas Day treat of the Philippine Basketball Association. The win was the Hotshots third in three games in the Philippine Cup, while the loss was the Gin Kings’ first in four outings. “It’s my third Manila Clasico and at least it wasn’t a third straight defeat for me,” Magnolia Head Coach Chito Victolero said. “I finally won.” That brought the GinebraMagnolia head-to-head record in the “Manila Clasico” to 4-1 and for Victolero, 1-2 won-lost against the Gin Kings. Ginebra’s Tim Cone, the most successful coach in PBA history with 23 titles, took the sting from the setback but felt satisfied with the fans’ turnout. “It was an honor and I was proud to be a part of the ‘Manila Clasico’ at this time, It’s a completely different feeling that the fans are back after two years,” said Cone, who coached several teams on Christmas Days in 2015, 2016, 2017. “I wished we gave them a better show.” The Big Dome seats 16,000 but in the pandemic time, the league has set attendance at 4,000 to “test the waters,” numbers that are way below at the historic arena that hosted its last pre-pandemic game last March 8, 2020.

Excitement over the “Clasico” was evident when fans started to line up for tickets at 1 p.m. on Saturday. By 5 p.m., an hour before the GinebraMagnolia game, “Sold Out” signs were already posted on the ticket booths. “The PBA is back with fans. I’m no longer watching the games on my cell phone,” Mar Yu, a construction worker from Caloocan City who treated his son to the Clasico, said. “We’re praying Covid-19 pandemic will surely go away for good next year, so we can return to our normal life.” Adding emotions to the games aptly called “Season of Joy” in honor of Quezon City Mayor Joy Belmonte was the retirement of the Nos. 15 and 8 jerseys respectively of former Magnolia stars Marc Pingris and Peter June Simon. On Sunday, San Miguel Beer withstood Terrafirma’s endgame rally to score a 100-88 victory. After almost squandering a 23-point lead, the Beermen stood tall as Terrence Romeo and CJ Perez doused cold water on the Dyip to claim their third consecutive win against two losses. Romeo nailed 23 points, including the step-back jumper that gave San Miguel Beer a 96-88 lead with still 1:44 to go. San Miguel Beer import Brandon Brown had 23 points, 10 rebounds, five assists, four steals and three blocks, while Perez added 17 points, eight boards and five assists. Vic Manuel and June Mar Fajardo contributed 14 and 11 points, respectively. Terrafirma, playing without Alex Cabagnot because of an achilles injury, fell to 1-4 won-lost.

A drama of two football matches I WAS treated to two football matches played three days apart across two continents that was filled with so much drama, tension, controversy, incredible goals, twists and turns that no script a writer could ever conjure. The first was between Liverpool and Leicester City in the Carabao Cup in England last Wednesday, while the second was between Indonesia and Singapore in the second leg of the 2021 Suzuki Cup semifinals at Kallang National Stadium on Christmas Day—home field of the latter nation. Liverpool and Leicester ended the match, 3-3, with the Reds twice coming back from two-goal deficits, to win it, 5-4 in a penalty shootout. Indonesia survived the upset axe as they dispatched

P2-M 3-POINTER Former University of the East stalwart Philip Manalang launches the buzzer-beating three-pointer—his only conversion in the

game—over the outstretched arms of Nueva Ecija Rice Vanguards’ Bryon Villarias to lift Basilan-Jumbo Plastic Medical Depot to an 83-80 victory in the winner-take-all final of the Chooks-to-Go Maharlika Pilipinas Basketball League Invitational powered by TM on Friday night at the SM Mall of Asia Arena. That shot is worth the top prize of P2 million for the champion.

Fil-Am Golf Invitational aims to return to normal

OR almost two years, amateur golf tournaments took a back seat because of the Covid-19 pandemic, but the moment protocols eased up and with the approval of the local government unit of Baguio City and the Inter-Agency Task Force on for the Management of Emerging Infectious Diseases, the Fil-Am Golf Invitational made a successful return last week. The Fil-Am executive committee submitted a proposal to Baguio City, IATF and the

National Golf Association of the Philippines (NGAP) early this year but only got the go-ahead in October, thus, giving organizers only a month to prepare for the four-day event in the country’s Summer Capital. “They all waited the Covid-19 alert level to slide down. And when it did, that’s the time that we were given the green light,” said Robert John Sobrepeña, chairman of Camp John Hay (CJH), co-host with the Baguio Country Club (BCC)

THEY’RE SAILING DOWN UNDER

Supermaxi SHK Scallywag 100 leads the field after the start of the 76th annual Sydney Hobart yacht race in Sydney on Sunday. Last year’s race was canceled the week before it was due to start because of coronavirus-related quarantine issues, but the 2021 edition is proceeding with mass virus-testing protocols in place. This year’s fleet is reduced to 88 boats just before the race when the 49-foot Vamp withdraws because a crew member has close contact with someone who tests positive for Covid-19. Vamp is among five boats to withdraw in the 24 hours before the start. AP eight-man Singapore, 4-2 (5-3 on aggregate), in extra periods to return to the Suzuki Cup finals for the first time since 2010. For the English Football League (EFL) match, Liverpool manager Jurgen Klopp fielded once more a nondescript squad with five youth players and three second team players against a full-strength Foxes side. I realize how the EFL Cup is the least priority for Klopp and I understand why. The Premier and Champions League matches are the most important games. It doesn’t mean he is going to roll over and allow other teams to beat Liverpool. Liverpool fell quickly behind two Jamie Vardy strikes in the first 15 minutes. The Foxes took advantage of Liverpool’s high line and beat them with speed and superb counter attacking. Five minutes after Vardy’s second goal, LFC’s Alex Oxlade-Chamberlain who has been a vital part of Klopp’s squad through the years, blasted home a shot off a Roberto Firmino assist. Liverpool had a lifeline. Then came a James Maddison goal, a scorcher from several yards outside the box to make it 3-1, Leicester. That is the kind of “game over” goal but when Klopp began introducing some of his regulars into the game, the tide turned. Takumi Minamino assisted Diogo Jota on a goal to bring Liverpool into one. Then in the dying seconds of extra time, a James Milner cross into the box was missed by the Leicester defender. Minamino controlled the ball with his chest then fired it to the second post past a diving Kasper Schmeichel to level matters at 3-3. In the ensuing penalty shootout, Reds goalkeeper

of the Fil-Am golfest. In the 71st edition, the FilAm was played in a semi-bubble to ensure the health and safety of the participants—the players had to undergo three Antigen tests throughout the week and that translated to zero case, Sobrepeña happily noted. “Our staff and the people involved at CJH and BCC are fully vaccinated and have had Antigen tests, too, it safeguarded everyone,” Sobrepeña said. “This is in

CHEF DE MISSION meeting is set in early January as preparations shift to high gear with under only five months before the 31st Southeast Asian Games opening ceremony in Hanoi on May 12 next year, according to Philippine Olympic Committee President Rep. Abraham “Bambol” Tolentino on Sunday. The meeting will be held face-to-face—the first to be organized by host Vietnam for the postponed Games that end May 23, Tolentino added. “Although the SEA Games are just months away, we believe the hosts are doing everything for a successful hosting,” Tolentino said. “They’re prepared, because if not for the pandemic, the Games should have been done and over with this time.” The SEA Games, the second time Vietnam is hosting the multi-sport event, was originally scheduled for November 21 to December 2. The Philippines’s chef de mission to the Games, Philippine Sports Commission Commissioner Ramon Fernandez, and his deputies—Atty. Alberto Agra of obstacle sports and Pearl Managuelod of muay thai—are expected to fly to Hanoi with his deputies, Tolentino said. The meeting is set in Hanoi with the organizers setting the dates and agenda within the week. The Philippines intends to send a 626-athlete delegation which will compete in 29 of the 30 sports in the Hanoi program. The second Chefs de Mission and Technical Delegates Meeting is set on March 13. Also up on the POC task this week is the submission of entry by numbers to the Huangzhou 19th Asian Games on or before December 31.

compliance with the LGU’s guidelines. The good news was, it worked.” Sobrepeña said that the Fil-Am executive committee is hoping that the tournament returns to normal in 2022. “We are hoping to have a better situation next year so we can bring in more participants,” he said, noting that only 288 players participated this year, a far cry from the traditional 1,300 attendance the Fil-Am lured every year in the pre-Covid era to earn the reputation as the world’s largest amateur golf tournament and a slot in the Guinness Book of World Records.

Cuarto rematch with Taduran up

EIGNING International Boxing Federation (IBF) minimumweight world champion Rene Mark Cuarto intends to give Pedro Taduran the rematch he desires tentatively on January 29 in Digos, Davao del Sur. “I am very much willing to give him his rematch so that I can prove to everyone that I won the title,” the 25-year-old Cuarto of Zamboanga del Norte told BusinessMirror on Sunday. “I’m still waiting for my manager on the details of my next fight but I heard it’s January 29.” Cuarto (19-2-2 win-loss-draw record with 11 knockouts) dethroned Taduran (14-3-1 with 11 knockouts), also 25, last February 27 in General Santos City in

Caoimhin Kelleher saved two shots with the second atoning for Minamino’s miss from the spot (that would have allowed Liverpool to win it outright). Surprisingly, Jota, not included in the first five to take penalty kicks, came on to win it for Liverpool. It was an incredible comeback win; one that Liverpool has become famous for over the years including late strikes. Twice down and going on to draw level with a few seconds left in the game. And this win was some but of good news after the disappointing draw with Tottenham a few days earlier. It says something about the way Klopp has transformed this club. There is this belief that they can get the job done no matter what the odds. And that is something Singapore nearly pulled off. If the Liverpool-Leicester match was a completed comeback, the Singapore-Indonesia game was…helter skelter football. Indonesia’s Ezra Walian took advantage of the confusion in Singapore’s box to score early, 1-nil in the 11thminute. In extra time in the first half, Safuwan Baharudin was sent off after tussling with Indonesia’s Rizky Ridho. While Safuwan was provoked, he lost his head. You have a yellow card and you go on to bump your opponent. He was sent off. Immediately after that, Singapore’s Ui-young scored off a free kick when Indonesia was unable to clear the ball; 1-1. In the 67th minute, Irfan Fandi was also sent off for a poor tackle on Irfan Jaya who was in a goal scoring position. Indonesia was unable to capitalize on nine-man Singapore and the free kick. Instead, it was the Lions’ Shahdan Sulaiman who scored on a brilliant free kick in

a world title bout organized by Senator Manny Pacquiao’s MP Promotions. “It’s almost a year that I haven’t fought and I’m excited,” Cuarto said. “I just kept myself fit and trained here in Davao together with coach Nonoy [Neri],” he said. “I’m willing to defend my belt anywhere, any time against Taduran.” Taduran’s manager Art Monis said his boxer from Albay is waiting for the rematch contracts, including the fight purse, being prepared by Cuarto’s camp. “We have no problem fighting Cuarto in his hometown again for as long as the judges are neutral,” Monis said. “Pedro is doing well in his training in La Union.” Josef Ramos

the 74th minute that I thought Merah Putih keeper Nadeo Argawinata should have saved. That has to be one of the goals of the tournament. Think of that…each time Singapore lost a player, they scored. Sulaiman almost scored on another free kick in the 78th minute but this time, Nadeo was up to the task. With Indonesia perilously close to losing the game in spite of the man advantage, they equalized in 87th minute when Pratama Arhan scored off a rebound attempt. Arhan was actually offside but the linesman missed the infraction; one of many calls that hurt Singapore. The Lions shot themselves on the foot as the red cards were all correct, but the missed offside…now that was bad. What made it worse was Singapore’s Faris Ramli missing a penalty shot a minute later that could have given the Lions’ a storybook ending. Instead, it went to extra time where an own goal did in the Lions. A fourth goal was scored to practically end it but not before Singapore goalkeeper Hassan Sunny was also sent off for a reckless tackle. Defender Irfan Fandi took over from Sunny at the goal and saved a shot on goal. The Singaporean crowd—credit them—roared. They never left even after the fourth goal by Indonesia. And when it was all done with the Merah Putih moving on to the finals, what I loved in the end was seeing the Indonesian players consoling Ramli who could have been the hero of the game. The two games had everything—drama, tension, controversy, incredible goals, twists and turns that no script writer could ever conjure. And that is why it is called, “the Beautiful Game.”