2021 budget, a reboot from pandemic, signed By Samuel P. Medenilla @sam_medenilla
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RESIDENT Duterte finally signed on Monday the P4.506trillion 2021 national budget, which will focus on funding the country’s recovery from the pandemic. The Department of Budget and Management (DBM) said the 2021 General Appropriations Act (GAA) is the country’s largest national budget to date, and is 10 percent larger than P4.1-trillion national budget this year. In his speech at the ceremonial signing, Duterte said a highlight of the 2021 GAA is the P72.5 billion for the implementation of the vaccination drive of the government for Covid-19, which is expected to start by the first quarter of next year.
He said the amount will be used for the purchase, storage, transportation and distribution of Covid-19 vaccines. “I cannot stress this enough. Every centavo of this budget must be spent to ensure our nations recovery, resilience and sustainability,” Duterte said. “Let me therefore serve as an assurance to the Filipino people that this coming year we intend to recover as one nation,” he added. A study by some economists indicated, however, that the 2021 budget puts more premium on peace and order concerns than on health and social welfare in a time of pandemic. See related story on page A8, “Amid pandemic, ’21 budget focuses on security.”
Lawmakers thanked
Duterte thanked the cooperation of the House of Representatives and
the Senate for the swift ratification of the 2021 GAA. “The prompt ratification of the 2021 national budget is a testament to our commitment to set aside divisive partisan politics. Indeed in this crucial juncture in our history we can no longer engage in politics of division, hate, and finger pointing,” Duterte said. In a statement, the Department of Budget and Management (DBM) said the social services sector got the bulk or 37 percent of the 2021 GAA with P1.668 trillion. The economic services sector came in second place, which makes up 29.4 percent of the national budget with P1.323.1 trillion, it includes the administration’s flagship Build, Build, Build program. Other sectors which got significant budget allocation is the General
Tuesday, December 29, 2020 Vol. 16 No. 82
Public Services sector with P747.8 billion (16.6 percent), Debt Burden with P560.2 billion (12.4 percent), and Defense with P206.8 billion (4.6 percent).
Bounceback seen
Senators expect the economy to quickly “bounce back ” following the timely signing into law of the budget bill. Sen. Juan Edgardo Angara, chairman of the Senate Finance Committee, credited the Office of the President and the DBM for early enactment of the new budget law, projecting that with a new budget in place, “the economy is set to bounce back after a historic slump” this year due to the pandemic, allaying apprehensions any delay in the passage of the 2021 budget would derail the recovery process. See “2021 budget,” A2
11-MO BOP SURPLUS HITS w
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P25.00 nationwide | 2 sections 16 pages |
$11.8B; NOV DATA AT $1.47B JAPAN FIRMS TWEAK SUPPLY CHAINS TO PHL, OTHER NATIONS
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The 18-km Skyway 3 cuts a dramatic image as it snakes through some of Metro Manila’s busiest cities, in this photo provided by San Miguel Corporation (SMC), which financed and built the much-awaited project, the country’s longest elevated expressway. SMC is soft-opening this vital link between southern and northern Luzon on Tuesday, December 29, and making it free to motorists for one month. Story in Companies Section, B1.
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By Bianca Cuaresma
@BcuaresmaBM
HE country’s transactions with the rest of the world yielded a dollar surplus of $11.8 billion in the first 11 months of the year, Bangko Sentral ng Pilipinas (BSP) data showed.
The BSP reported on Monday that the country’s Balance of Payments (BoP) registered a surplus of $1.47 billion in November this
year, up from the $541-million surplus in the same month last year. This development pushed the
country’s overall BoP to $11.8 billion in the first 11 months of this year. The BSP said the November surplus alone reflected inflows mainly from the BSP’s foreign exchange operations and income from its investments abroad. The surplus could have been larger, however, if not partially offset by the foreign currency withdrawals the national government made to pay its foreign currency debt obligations. The 11 months’ cumulative BOP surplus was also significantly higher than the $6.27-billion surplus recorded for the same period
a year ago. Foreign portfolio investments (FPI), one of the BoP components, also registered a net inflow in November. This is the second consecutive month that FPI—more popularly known as “ hot” money—yielded inf lows this year. FPI net inflows amounted to $227 million, resulting from the $1.6-billion gross inf lows and $1.3-billion gross outflows for November. The month’s net inflow reversal of last year’s $352-million net outflow of FPI. See “BOP surplus,” A2
Jica, BSP to create SMEs credit risk database By Cai U. Ordinario
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@caiordinario
HE Japan International Cooperation Agency (Jica) and the Bangko Sentral ng Pilipinas (BSP) will be creating a credit risk database (CRD) of local enterprises to boost financing for small and medium enterprises (SMEs).
In a statement, Jica said the technical cooperation project, which will be undertaken for three years, aims to improve SMEs access to financing in the Philippines. The initiative will include the creation of a scoring model based on a database built from information gathered from banks. Jica said some banks have al-
PESO exchange rates n US 48.0620
ready expressed their interest to participate. “We’ve finished the feasibility study for the project that helped pave the way for a technical cooperation between Jica and BSP on formally establishing a credit risk database of local enterprises,” Jica Senior Representative Kawabuchi Kiyo said.
“The pandemic brought about d i sr upt ion s a nd d i f f ic u lt ies which spared no one, including SMEs. Through this project, we look forward to working with more financial institutions and banks so we can mainstream CRD and support economic recovery of SMEs,” Kiyo said. Continued on A2
EWLY DESIGNATED Japan Ambassador to the Philippines Koshikawa Kazuhiko told Finance Secretary Carlos G. Dominguez III that Japanese companies are exploring ways of realigning their supply chains to other countries like the Philippines. In a statement on Monday, the Department of Finance said Koshikawa also told the finance chief that Japanese investors doing business in the Philippines welcomed the Senate approval of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill, which was also earlier passed by the House of Representatives. The Japanese envoy congratulated Dominguez on the Senate passage of the CREATE bill and expressed hope that Congress would give its final nod to the measure so that President Duterte could sign it into law. The envoy also said passage of the measure will soon end the unpredictability on the future tax and incentives scheme of the country. The Senate version of the CREATE bill aims to bring down the current corporate income tax (CIT) rate from 30 percent—the region’s highest—to 20 percent for micro, small, and medium enterprises (MSMEs) with a net taxable income of P5 million and below; while other companies, including foreign firms, will pay a harmonized rate of 25 percent. Aside from the CIT rate cut, Dominguez also informed Koshikawa that CREATE will also allow the government to tailor-fit incentives given to businesses so as to attract the kind of investors that it wants to invest in the Philippines. When Congress resumes session next year after its year-end break, a bicameral conference committee composed of representatives from both chambers will hammer out a consolidated version of the CREATE bill for submission to the President for his approval. Dominguez also told Koshikawa the Philippines’s competitive edge in attracting foreign direct investments (FDI) is its young working population, which complements Japan’s highly skilled labor force and makes the two countries ideal“demographic partners.” During the meeting, Koshikawa also commended the Philippine economic team led by Dominguez for its sound fiscal management of the economy amid the Covid-19 pandemic. He also restated Japan’s continuing support for the Philippine government’s efforts to curb the spread of the
virus and recover from the economic repercussions of the crisis. Citing the signing in September between the two countries of the 50-billion yen Post-Disaster Standby Loan (PDSL) Phase 2, Koshikawa affirmed Japan’s commitment to continue assisting the Philippines in its disaster risk reduction and mitigation programs. In response, Dominguez said the Philippines has looked to Japan as a good example of how to curb the spread of Covid-19. He again thanked Japan for responding swiftly to the government’s call for emergency financing to help mitigate the impact of the pandemic on the economy and the Filipino people. The finance chief also thanked Japan for its support to the Philippines’s development agenda under the Duterte administration, citing its status as the country’s No.1 official development assistance (ODA) partner, with loans and grants amounting to around $10.10 billion (38.53 percent of total ODA) as of June this year. Since the start of the Duterte administration in July 2016, at least 15 loan agreements totaling JPY679.296 billion (about P313.147 billion or $6.443 billion) have been signed by Manila with Tokyo. Koshikawa, meanwhile congratulated the Philippines on its recent successful issuance of $2.75-billion global bonds, which included the Japan-based Daiwa Capital Markets as among the joint bookrunners of the offering. The envoy reiterated Japan’s longterm support for the economic development of, and the peace process in, Mindanao. Dominguez also briefed Koshikawa on the progress of the implementation of the Bangsamoro Organic Law (BOL) and the strides made by the National Government-Bangsamoro Government Intergovernmental Relations Body (IGRB). Dominguez co-chairs the IGRB with Education Minister Mohagher Iqbal of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM). Before beginning his tour of duty in Manila, Koshikawa was a senior official at the Japan International Cooperation Agency (Jica), and had served as Japan’s Ambassador to Spain and Angola. Koshikawa presented his credentials to President Duterte as Ambassador Extraordinary and Plenipotentiary of Japan to the Republic of the Philippines last December 14.
n japan 0.4643 n UK 65.1432 n HK 6.1988 n CHINA 7.3476 n singapore 36.1994 n australia 36.5271 n EU 58.6020 n SAUDI arabia 12.8063
Bernadette D. Nicolas
Source: BSP (December 28, 2020)
"Amid pandemic, ’21 budget focuses on security."
News
BusinessMirror
A2 Tuesday, December 29, 2020
Insurance sector’s H1 net income dips 17% to ₧19B
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By Bernadette D. Nicolas
@BNicolasBM
HE local insurance industry’s net income for the first half of the year dipped by 16.68 percent to P19.03 billion from P22.84 billion in the same period a year ago as the country suffered from the adverse effects of the Covid-19 pandemic.
Based on the unaudited quarterly reports submitted to the Insurance Commission, the life insurance and mutual benefit associations (MBA) sectors saw
their respective net incomes drop while the nonlife sector managed to post a significant increase in its net income despite the pandemic.
Covid vaccine… The Palace official said the vaccine may likely be a donation from China. “If it was able to pass through [the customs], it has to be in small quantities because if it is in commercial quantities, it will require a license [from FDA],” Roque said. Defense Secretary Delfin Lorenzana clarified that only members of the Presidential Security Group (PSG) were given the vaccine. This was confirmed by PSG Commander Jesus Durante, who said those inoculated were close-in security for the President. “With the current pandemic, PSG needs to ensure that they are not themselves threat to the President’s health and safety,” Durante said in a statement.
Side effects
DURANTE said they were aware of the possible risk of using new vaccines. The PSG roster includes members of the Armed Forces of the Philippines (AFP), Philippine National Police (PNP) and the Philippine Coast Guard (PCG). In a radio interview, Interior Secretary Eduardo Año said some of those inoculated suffered side effects from the second dose.
Army chief admits
A TOP commander of the military has admitted that some soldiers have been vaccinated with a Chinese-manufactured anti-coronavirus medicine, an admission that the military spokesman refused to confirm, however. The confirmation by Army chief Lt. Gen. Cirilito Sobejana that some military officers took anti-Covid shots stirred a controversy, given that the FDA is yet to approve any anti-Covid vaccine in the country. “I know of some, but I could not just disclose the unit. I know personally that some
of the year from P1.72 trillion in the same period last year. Total investments of the insurance industry also went up by 2.31 percent year-on-year to P1.56 trillion from P1.52 trillion as of endJune 2019. The total net worth of the insurance industry for the first half of the year also slipped to P378.87 billion, contracting by 4.33 percent from last year’s P396.03 billion. Data from the Insurance Commission also showed the country’s insurance penetration shrinking to 1.58 percent from 1.61 percent in the same period in 2019. There are still a total of 134 licensed life, nonlife insurance companies, and MBAs operating in the country as of end of second quarter of this year just like in the same period last year.
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in the ranks of the AFP have been vaccinated,” Sobejana said on radio station DWIZ. His admission followed an earlier statement by Duterte that some members of the military have taken anti-coronavirus shots from Chinese-manufactured SinoPharm. Military spokesman Major General Edgard Arevalo said the Armed Forces is not officially aware of any vaccination in the organization, although they are trying to verify it. ”The AFP is not aware of Covid-19 inoculation made to military personnel. We do not have an AFP Leadership-sanctioned vaccination. We are getting details,” he said in a statement.
Lacson laments Palace switch
SENATOR Panfilo Lacson lamented Monday Malacañang’s mishandling of the Covid vaccine supply deal with United States pharmaceutical companies to favor a Chinese supplier, which was seen to likely derail annual joint military exercises under the RP-US Visiting Forces Agreement (VFA). Lacson warned that the President’s “No vaccines, no VFA!” threat was uncalled for. He added that, “treating the Americans like a bunch of yokels might have sealed our fate to settle for China’s Sinovac in lieu of the US-made Pfizer-BioNTech and Moderna vaccines.” Lacson aired his disappointment in a statement indicating his frustration that concerned Duterte administration officials could have handled the matter diplomatically, to avoid misperceptions they were“blackmailing”the US. “Such a pronouncement from the President is at the very least, unfortunate,” Lacson rued. “I think there could be a more diplomatic or at least a better way of asking a longtime ally to help us avail of the vaccines for our people without sounding like we are blackmailing our
Amid pandemic, ’21 budget focuses on security Continued from A8
“The shortfall will compete with the regular PAPs [projects and programs] [e.g., national immunization, micronutrient supplementation, management of acute malnutrition in vulnerable populations, and family planning] under this budget item,” she added. In terms of the DSWD budget, Cuenca said the budget will increase by 12.6 percent to P169.2 billion in 2021 from P156.6 billion in 2020. The lion’s share of the budget will be for operations, which represent
As of end-June, the life insurance sector reported a net income of P14.3 billion, a 20.18-percent decline from P17.91 billion in the same period last year. Also, the MBA sector’s net surplus in the same period plunged by 55.26 percent year-on-year to P1.38 billion from P3.08 billion in 2019. On the other hand, net income among nonlife insurers surged by 81.8 percent to P3.35 billion for the first half of this year from last year’s P1.84 billion. Meanwhile, total premium income generated by the industry for the first semester this year settled at P136.1 billion, a 4.1-percent decrease from P141.91 billion in 2019. The total assets of the insurance industry rose by 4.23 percent to P1.79 trillion in the first six months
98.8 percent of its 2021 budget. This will finance projects such as the National Household Targeting System for Poverty Reduction, which will see a 5-percent growth in its budget in 2021. However, the remaining portion of the budget allocation for the DSWD Office of the Secretary budget is “thinly distributed across other programs and projects.” She said the assistance to persons with disability and older persons represents 0.01 percent of the total DSWD Osec budget. “Programs concerning distressed OFWs and trafficked persons such as services to distressed overseas Filipinos, services to displaced persons [deportees], and recovery and reintegration program for trafficked persons accounts for 0.05 percent, 0.03 percent, and 0.01 percent of the Osec budget, respectively,” Cuenca said.
way into it.” The senator added:“What is more unfortunate is that we had a good chance to procure vaccines early from the US, but someone from our side dropped the ball, and has yet to be held accountable up to this day,”a reference to Health Secretary Francisco Duque III.
Not blackmail–Roque
MALACAÑANG defended Duterte’s decision to require the US to provide the country access to its vaccine or it will risk losing the Visiting Forces Agreement (VFA). Presidential spokesman Roque said the initiative only aims to ensure the country’s interest especially during the pandemic. “What the President is saying, since we are friends [with the US], we should help one another. We need the vaccine, and they have it, so they should send some to us,” Roque said. “They need our territory for their Visiting Forces Agreement, so we will give them [access] to it,” he added. Last Saturday, Duterte said in his public address that if the US government will not provide the government at least 20 million doses of vaccine, then he will bar their military personnel from entering the country under the VFA. Roque said the condition is not considered as blackmail and is the government exercising its independent foreign policy.
‘Overpriced vaccine’
MEANWHILE, a senator has added to the controversy with revelations that some vaccines being imported by the Duterte administration seem “overpriced.” Senator Imee Marcos asked officials involved in the deal to explain “why [the Philippines] will pay more than double what rich countries have negotiated to buy the same
vaccine against Covid-19.” Marcos earlier pushed for an Asean initiative to lobby global pharmaceutical firms to waive their intellectual-property rights on vaccine patents,“so that vaccines can be produced locally and sold at a cheaper price in poorer countries, adding that “computed that at $5 per dose, 30 million doses will cost the Philippine government $150 million or almost P7.2 billion, which could buy more than 69 million doses for the EU.” With two doses required, Marcos computed that “15 million Filipinos can be vaccinated at the same cost that can cover about 34.5 million Europeans.” She noted that Belgium’s Budget Secretary Eva De Bleeker had earlier disclosed that EU member-states will buy the AstraZeneca vaccine for only 1.78 euro or about 105 pesos per dose which, Marcos computed, “is 2.3 times less than what the Philippines will be paying the British-Swedish pharmaceutical firm.” She noted that the Inter-AgencyTask Force for the Management of Emerging Infectious Diseases (IATF-EID) will sign this week an agreement with AstraZeneca to buy 30 million doses of its vaccine at $5 or about P240 per dose, as soon as the UK health ministry authorizes its use. At the same time, she recalled statements by AstraZeneca’s CEO Pascal Soriot and its research partner Oxford University“to provide the vaccine on a not-for-profit basis for the duration of the pandemic across the world, and in perpetuity to low- and middle-income countries.” Marcos cited reports the United States will be buying the AstraZeneca vaccine at $4 per dose, at which rate five Americans can be immunized for every four Filipinos. She stressed that “the pricing issue must be addressed by the IATF, lest the government be suspected of profiteering amid tight funding for vaccines.” With Claudeth Mocon-Ciriaco
2021 budget…
“All of Congress saw the urgency of approving the 2021 national budget on time,” Angara said, recalling that “we went through two reenacted budgets—one that lasted for four months in 2019 and the other for a few days in 2020.” Angara acknowledged there is too much at stake in the 2021 budget, saying “the economy is set to bounce back after a historic slump this year due to the Covid-19 pandemic and any delay in the passage of the budget would be akin to throwing a monkey wrench in the recovery process.” The senator recalled that “with this sense of urgency among the members of the Senate and the House of Representatives, the budget measure was transmitted to Malacañang
on schedule, giving them enough time to go over the voluminous document and sign it before the year ends. Angara said, “We are now assured that the government will be operating on a new budget on January 1, 2021.” According to Angara, the 2021 national budget, together with the soon-to-be enacted extension of the validity of funds under the 2020 GAA and the Bayanihan to Recover as One Act will “provide the government with the tools needed to address the pandemic, help our people to get back on their feet after losing their livelihood and their homes, and revive our economy as we inch slowly towards recovery.” With Butch Fernandez
BOP surplus…
Despite the month’s net inflow, the FPI’s overall standing for the year remains at a net outflow of $3.7 billion in January to November. This more than doubles the $1.58-billion net outflow seen in the same 11-month period last year. The BSP said about 68.1 percent of investments registered were in listed securities pertaining mainly to banks, property companies, holding
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firms, food, beverage and tobacco companies and retail firms while the remaining 31.9 percent went to investments in Peso government securities. The United Kingdom, Singapore, the United States, Hong Kong and Norway were the top 5 investor countries for the month, with combined share to total at 82.4 percent. The US, meanwhile, received 74.7 percent of total outflows.
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DOT arm ties up with children’s hospital on Covid-19 testing By Ma. Stella F. Arnaldo
@akosistellaBM Special to the BusinessMirror
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HE Department of Tourism (DOT) is contracting the Philippine Children’s Medical Center (PCMC) for subsidized Covid-19 tests for travelers, even though there are a few takers for its subsidized tests with another partner-hospital. In an online presser, Tourism Secretar y Bernadette Romulo Puyat said that as of December 26, the DOT and its marketing arm, the Tourism Promotions Board (TPB) has processed 1,569 applications for testing at the University of the Philippines-Philippine General Hospital (PGH), out of the 11,000 slots available for domestic tourists. Of the applications processed, 965 have been approved, while 150 are undergoing validation. The rest, however, “did not meet our eligibility requirements,” she said in her remarks on Monday, at the signing of a memorandum of agreement (MOA) with PCMC. Travelers only need to pay P900 for the test, with the TPB shouldering the rest of the PGH’s fee. (See, “PGH studies saliva test, inks deal with TPB on Covid subsidy,” in the BusinessMirror, December 17, 2020.) Stakeholders in Boracay Island have been complaining of their slow visitor arrivals, which they blamed on the high cost of RT-PCR tests, previously reaching as high as P6,500. This, until President Duterte ordered a price cap on Covid tests. Meanwhile, Romulo Puyat said the DOT, through the TPB, will be making available P8.7 million to the PCMC in Quezon City to cover some 11,600 tourists who wish to travel to destinations which require RT-PCR testing. The PCMC charges only P1,500 each for RT-PCR tests booked by its government partners. With the TPB subsidizing 50 percent of the cost, tourists “only have to pay P750” each, said the DOT chief. To avail themselves of the subsidized tests at PCMC, travelers must first register online at https://bit. ly/3hp2NjO to pre-schedule their RT-PCR test and submit a valid government-issued identification card, proof of hotel booking in a DOT-accredited accommodation establishment, and proof of mode of travel such as airline or bus ticket. PCMC will accept RT-PCR test applications on a first-come, first-served basis. In his opening remarks, PCMC
Executive Director Dr. Julius Lecciones, said, with its Covid-19 testing laboratory, “We were focused on our desire for an affordable test accessible not just to patients but to private and public organizations and individuals, particularly the sectors that will potentially jumpstart the economy. Now that the tourism industry needs help to recover from the brunt of the pandemic, the PCMC is ready to work with you to get through this challenging time.” PCMC promises a 24-hour turnaround for the RT-PCR test results. “A small number that will need confirmatory test is within 48 hours,” said Lecciones. He added, the hospital has a curbside or drivethrough service: “The fee is the same [P1,500], but endorsement from the DOT must be secured first.” The medical center is also open to the general public for RT-PCR testing, with a regular rate of P3,577. One just has to call PCMC directly for a booking, whether it be for a walk-in or curbside service, he added. (For inquiries, call 85889900 loc. 426.) The MOA was signed by TPB Chief Operating Officer Ma. Anthonette C. Velasco-Allones, and Lecciones, and witnessed by Romulo Puyat and other PCMC officials at the medical facility. The partnership will be in place until June 2021. The MOA also allows foreigners who have resident or student visas to apply for the subsidized tests. “The rolling out of the subsidized RT-PCR tests for qualified domestic tourists is just one of the tourism promotions’ recovery strategies as part of our Safe Bangon Turismo campaign to support the Philippine tourism industry which has been adversely affected by the ongoing pandemic,” said Romulo Puyat. For her part, Allones told the BusinessMirror that PCMC is “willing to set up an alternative swabbing venue to address people’s fears of going to the hospital.” TPB is eyeing a venue somewhere between Quezon City and Manila for the alternative swabbing center. At the PCMC, Allones said there is “no maximum number of people to be swabbed,” unlike at the PGH, which puts a cap at 100 people a day. The TPB, the marketing arm of the DOT, has tapped its special contingency fund for the subsidized testing of domestic tourists. Among the destinations that require RT-PCR testing is Boracay Island, El Nido and Coron, Siargao, and Bohol.
Jica, BSP to create SMEs credit risk database
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An expert team from CRD Association and CRD Business Support Limited of Japan, which operate and maintain the CRD in Japan, will also collaborate with BSP on this project. In Japan, Jica said the CRD system helped improve credit access of SMEs using a tool that analyzes credit risk information. In the statement, BSP Governor Diokno said SMEs locally need more access to financing. Prior to Covid-19, he said SME loans from local banks accounted for 8.8 percent of total business loans and 6.1 percent of total loans. Part of the reason why access of SMEs to financing is low is the lack of credit history of these firms, giving a perception that SMEs are high-risk borrowers, Diokno added. He also said SMEs lacked “acceptable collateral” that banks require before these firms can be given the loans. “The project is a tangible step in building a sustainable financing ecosystem for SMEs. Banks, on the
other hand, will benefit from the robust credit scoring models built on the database to supplement or to validate their internal scoring models. This will particularly be useful to those without a credit scoring model. The CRD will enhance the credit risk management system of banks,” Diokno said. Jica said the Philippine Magna Carta for Small Enterprises has consolidated all programs for MSME development in the Philippines. The project also help improve risk perception on small businesses and improve their access to finance. The agency handles technical cooperation, ODA loans and investment, and grant aid, as well as cooperation volunteers and disaster relief programs. Jica is the world’s largest bilateral aid agency with its volume of cooperation amounting to about $14.08 billion for JFY 2018 and a worldwide network of about 100 overseas offices, including the Philippines.
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Editor: Vittorio V. Vitug • Tuesday, December 29, 2020 A3
BI reports gradual hike in foreigner, ‘balikbayan’ arrivals in Dec 132,000 passengers have already arrived this December, which is 18 percent higher than those who came in October. “The number of foreigners who arrived have steadily increased from only 1,591 in April to more almost 18,000 this December, which is still very low compared to last year when foreigner arrivals averaged more than 700,000 a month,” Tan noted. Tan attributed the increasing number of foreigner arrivals to the decision of the government to lift restrictions on the entry of former Filipinos, also known as balikbayans, and their foreign spouses and children who are traveling with them. Since the easing of travel restrictions, there were already a total of 5,237 balikbayans who have arrived
FERDINAND BANENAS, who works as airport terminal cleaner at the Ninoy Aquino International Airport, disinfects the handles of empty pushcarts on Monday, December 28, 2020, commonly used by local and foreign travelers to wheel their luggage. Immigration authorities on Monday reported a gradual increase in the number of foreigner and balikbayan arrivals in December as the government eases travel restrictions. NONIE REYES By Joel R. San Juan @jrsanjuan1573
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HE Bureau of Immigration (BI) has recorded a 79-percent decrease in the number of in-
ternational passengers arriving in the country in 2020 which it attributed to travel restrictions imposed by the government to contain the Covid-19 pandemic. The BI, however, also noted a
gradual increase in the number of foreigners and balikbayans entering the country since the easing of travel restrictions by the government. Lawyer Candy Tan, BI Port Operations division chief, said more than
MANILA BAY REHAB ‘UNHAMPERED’ Lanao LGUs get P81.4M worth BY PANDEMIC, DENR CHIEF SAYS of MinSAAD infra projects D By Jonathan L. Mayuga @jonlmayuga
ESPITE threats posed by the Covid-19 pandemic and community quarantines put in place by the government since March this year, government’s efforts to rehabilitate Manila Bay remain unhampered, according to Department of Environment and Natural Resources (DENR) Secretary Roy A. Cimatu. Cimatu, also the designated chairman of the Manila Bay Inter-Agency Task Force (MBIATF), reported that the solar-powered sewage treatment plant (STP) inaugurated in July highlighted the year’s accomplishments. “Our work continues despite the limitations in mobilizing people, especially for our cleanup, monitoring and enforcement activities,” Cimatu said in a news statement. The STP, which is capable of treating 500,000 liters of wastewater per day from three drainage outfalls, namely, Padre Faura, Remedios and Estero de San Antonio Abad, is able to significantly reduce water pollution in the historic bay. Despite being unsafe for swimming and bathing, the water quality in Manila Bay is improving. A significant decrease in fecal coliform was recorded in three sites, namely, the Baywalk area, Estero de San Antonio Abad and Baseco Beach. These are priority areas considered by the MBIATF when it launched the Battle for Manila Bay on January 27, 2019. In the Baywalk, fecal coliform is now down to 2,211,833 most probable number per 100 milliliters (MPN/100ml), compared to 5,666,213 MPN/100ml in 2019. The coliform level in Estero de San Antonio Abad also went down from 43,881,048 MPN/100ml to 19,066,767 MPN/100ml, and Baseco Beach from 1,700,000 MPN/100ml in 2019 to 341,225 MPN/100ml. According to the DENR, aside from these priority areas, cleanup activities were also regularly conducted in creeks, esteros, and river systems. An average of 60 metric tons of garbage is being collected daily for a total of 24,471.30 metric tons from 2019.
In partnership with the Department of Public Works and Highways (DPWH), dredging and desilting operations were also conducted. In the Baywalk area, a total of 210,549 cubic meters of silt and submerged garbage were dredged. Meanwhile, a total of 551,768.72 cubic meter of dredged materials were collected from the esteros, creeks and rivers. These include esteros in eight priority river systems: San Juan River, Pasig River, Tullahan-Tinajeros River, Navotas-Malabon River, Parañaque River, Las Piñas-Zapote River, Taguig-Pateros River, and Marikina River. Cimatu said the task force also introduced geoengineering interventions in the bay, such as the installation of trash booms and silt curtains. “We are optimistic that these measures will really help clean the waters of Manila Bay. However, as I repeatedly stressed, this is an effort not only of the government but of every Filipino. We must work hand in hand,” Cimatu stressed. In Baseco, a circumferential sewerage interceptor was constructed and communal septic tanks were installed to minimize the direct discharge of untreated wastewater to the bay. Just recently, Project Kubeta Ko was launched at Parola Compound in Tondo, Manila by the city government of Manila, the Bill and Melinda Gates Foundation, Maynilad Water Services Inc., Metropolitan Waterworks and Sewerage System, and the DENR. The project aims to minimize open defecation in Manila Bay by informal settler families (ISFs) in Manila. It adopted a portable, container-based toilet solution to provide dignified temporary sanitation facilities for squatter dwellers prior to relocation. In September, the DENR also embarked on the beach nourishment project with the use of dolomite to rehabilitate and protect the coastal resources in the area, as well as to prevent coastal flooding, erosion, and pollution. The estimated cost of the entire project is P389 million, around P28 million of which is allotted for the dolomite overlay.
T
HE Department of Agrarian Reform (DAR) has announced that it has turned over various infrastructure projects worth P81.4 million to five local government units in the Province of Lanao del Norte. DAR Regional Director Merlita Capinpuyan said the projects were implemented under the program dubbed Mindanao Sustainable Agrarian and Agriculture Development (MinSAAD). She identified the primary beneficiaries as farmers and rural communities in the towns of Kolambugan, Tangcal, Tubod, Magsaysay, and Munai. The infrastructure projects include rural water systems, Tulay ng Pangulo (bridges), and communal irrigation systems. Capinpuyan said in a news statement the projects, which were implemented under the program, would greatly help farmers bring their produce to the market and help facilitate the transport of farm inputs to their farms. MinSAAD project manager Eduardo Suaybaguio said the rural water system in Barangay Pantaon, Kolambugan will benefit a total of 2,898 individuals, including 598 agrarian reform beneficiaries in the barangays and nearby sitios from the municipality of Tangcal; another 640 farmer-beneficiaries in Barangay Maganding in Munai municipality is now benefiting from the rural water system provided to them. Suaybaguio said the DAR also turned over communal irrigation projects in Magsaysay municipality which will irrigate about 50 hectares of farmlands located in barangays Lumbac and Baguiguicon, while 100 hectares of farmlands will be irrigated in Barangay Lindongan. Another project that was turned over was the Tulay ng Pangulo bridges worth P25 million each. Measuring 28 meters in length, the bridges were constructed to connect nearby barangays to Tangcal municipality. The bridge in Barangay Sto. Niño in Tubod now connects the people to Baroy municipality. Jonathan L. Mayuga
in the country to spend the holidays from December 7 up to December 25 alone. From a promising 1.53-million arrivals last January, Tan lamented that the volume dropped to 858,859 in February and to 363,548 in March when President Duterte placed the country under a state of public health emergency and implemented an enhanced community quarantine. BI Commissioner Jaime Morente said BI records would show that 3.5 million passengers arrived in the country from January to December 25, compared to the 16.7 million who came in 2019. Morente said that of those who arrived this year, 2.03 million were Filipinos while 1.54 million were foreigners.
But in 2019, 8.7 million Filipinos and 7.9 million foreigners entered the country during the same period. Morente said the 13 million drop in figures is not surprising, considering that worldwide drop in international travel due to the Covid-19 pandemic. “We expect these passenger statistics to remain low perhaps until early next year,” Morente said. “But we remain hopeful that the international travel sector recovers soon, especially once the vaccine reaches our shores and confidence in travel is restored,” he stressed. The United Nations World Tourism Organization (UNWTO) had earlier said international tourism is “expected to decline over 70 percent in 2020, back to levels of 30 years ago.”
BusinessMirror
A4 Tuesday, December 29, 2020
ESTABLISHMENT / ADDRESS NO.
FOREIGN NATIONAL / NATIONALITY
ESTABLISHMENT / ADDRESS POSITION
24/7 BUSINESS PROCESSING INC. 5th-6th-7th Flr. 81 Newport Bl Newport City Brgy. 183 Pasay City 1.
CHENG, HSU-HUANG Taiwanese
CUSTOMER SERVICE REPRESENTATIVE (CHINESE ACCOUNTS)
2.
SEE HUI JUE Malaysian
CUSTOMER SERVICE REPRESENTATIVE (CHINESE ACCOUNTS)
3O BPO INCORPORATED 2/f Lcs Bldg South Super Highway San Andres Cor Diamante St 087 Bgy 803 Santa Ana Manila 3.
SEO, HEEJUNG South Korean
CUSTOMER SERVICE AGENT KOREAN
8 STONE BUSINESS OUTSOURCING OPC 5th-10th/f Tower 3, Pitx #1 Kennedy Road Tambo Parañaque City
NO.
FOREIGN NATIONAL / NATIONALITY
www.businessmirror.com.ph
ESTABLISHMENT / ADDRESS POSITION
NO.
FOREIGN NATIONAL / NATIONALITY
ESTABLISHMENT / ADDRESS POSITION
44.
HUANG, ZHIBIN Chinese
CHINESE CUSTOMER SERVICE
CHINA AIRLINES, LTD. 1322 Roxas Blvd. 072 Bgy. 688 Ermita Manila
45.
JIA, JUN Chinese
CHINESE CUSTOMER SERVICE
89.
46.
KE, YIHU Chinese
CHINESE CUSTOMER SERVICE
DAXIFA CORPORATION Mpire Center 93 West Avenue Project 7 Bungad 1 Quezon City
47.
LEE SIEW MAY Malaysian
CHINESE CUSTOMER SERVICE
48.
LI, LINGJIE Chinese
49.
LI, TIANRONG Chinese
50.
LI, YULIN Chinese
CHEN, CHUN-NAN Taiwanese
GENERAL MANAGER
JADEMUD CORP. Unit 2304 Antel Global Corporate Center Doña Julia Vargas Ave., Ortigas Center San Antonio Pasig City
CHINESE CUSTOMER SERVICE
92.
OU, YIFENG Chinese
MANDARIN SPEAKING CUSTOMER REPRESENTATIVE
125.
CHINESE CUSTOMER SERVICE
93.
TANG, LIAOYUAN Chinese
MANDARIN SPEAKING CUSTOMER REPRESENTATIVE
WANG, LI Chinese
MANDARIN SPEAKING CUSTOMER REPRESENTATIVE
5.
NGUYEN THI TOAN Vietnamese
CUSTOMER SERVICE REPRESENTATIVE
52.
LIN, MENG Chinese
CHINESE CUSTOMER SERVICE
95.
WEI, GUOSHENG Chinese
MANDARIN SPEAKING CUSTOMER REPRESENTATIVE
6.
SUN, YUE Chinese
CUSTOMER SERVICE REPRESENTATIVE
53.
LIU, FANG Chinese
CHINESE CUSTOMER SERVICE
96.
YANG, YANG Chinese
MANDARIN SPEAKING CUSTOMER REPRESENTATIVE
7.
WU, WEIWEI Chinese
CUSTOMER SERVICE REPRESENTATIVE
54.
LIU, LIJIE Chinese
CHINESE CUSTOMER SERVICE
97.
YI, JIAN Chinese
MANDARIN SPEAKING CUSTOMER REPRESENTATIVE
8.
ZHANG, DAN Chinese
CUSTOMER SERVICE REPRESENTATIVE
55.
LIU, PING Chinese
CHINESE CUSTOMER SERVICE
56.
LIU, XUDONG Chinese
CHINESE CUSTOMER SERVICE CHINESE CUSTOMER SERVICE
DTCC SINGAPORE PTE. LTD. 8/f And Unit 2 9/f V Corporate Centre 125 L.p. Leviste St., Salcedo Village Makati City 98.
SIDHU, SAU FONG WONG British
CLIENT SERVICE DIRECTOR
9.
HERI SUTONO Indonesian
INDONESIAN ONLINE PAYMENT SPECIALIST
57.
LIU, YANG Chinese
10.
JACELYN Indonesian
INDONESIAN OPERATIONS SPECIALIST
58.
MIAO, SHIHUI Chinese
CHINESE CUSTOMER SERVICE
FLY ASIAN INTERNATIONAL CORPORATION Eighty One Newport Blvd. Newport City Va, Brgy. 183 Pasay City
11.
MELVIN WONG VERN PING Malaysian
MALAYSIAN FINANCE MANAGER
59.
NGUYEN ANH LINH Vietnamese
CHINESE CUSTOMER SERVICE
99.
12.
FLORENCE LOW MAYCE Malaysian
MALAYSIAN OPERATIONS SPECIALIST
60.
QIU, JUAN Chinese
CHINESE CUSTOMER SERVICE
13.
JONG YIE WON Malaysian
MALAYSIAN OPERATIONS SPECIALIST
61.
VY QUANG THANG Vietnamese
CHINESE CUSTOMER SERVICE
FLYING DRAGON NETWORK PHILIPPINES INC. 4th-11th Floor Aseana 3 Building Aseana Avenue Corner Diosdado Macapagal Tambo Parañaque City
14.
LO ZHI YING Malaysian
MALAYSIAN OPERATIONS SPECIALIST
62.
WANG, ZHUBIN Chinese
CHINESE CUSTOMER SERVICE
15.
QIN, LIN Chinese
MANDARIN IT SUPERVISOR
63.
WU, LICHANG Chinese
CHINESE CUSTOMER SERVICE
LIU, JIA-MING Taiwanese
MANDARIN ONLINE PAYMENT SPECIALIST
64.
WU, XINDE Chinese
CHINESE CUSTOMER SERVICE
YUAN, KUO-TAI Taiwanese
MANDARIN OPERATIONS MANAGER
65.
YANG, DONG Chinese
CHINESE CUSTOMER SERVICE
NGUYEN THI THANH THUY Vietnamese
VIETNAMESE BUDGET CONTROL SPECIALIST
66.
YANG, GUANDONG Chinese
CHINESE CUSTOMER SERVICE
67.
CHINESE CUSTOMER SERVICE
19.
TA QUYEN PHAT Vietnamese
VIETNAMESE BUDGET CONTROL SPECIALIST
YANG, ZHANGLING Chinese
68.
CHINESE CUSTOMER SERVICE
20.
LY VI DUONG Vietnamese
VIETNAMESE ONLINE PAYMENT SPECIALIST
YE, XUANAN Chinese
69.
CHINESE CUSTOMER SERVICE
PHAM VAN KHIEN Vietnamese
VIETNAMESE ONLINE PAYMENT SPECIALIST
ZHANG, QIANG Chinese
GU, DONGQI Chinese
23.
HSIEH, YUN-YU Taiwanese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
24.
SUN, JIE Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
22.
ANOC99 CORPORATION 5/f Ayala Malls Manila Bay Building D. Macapagal Blvd. Cor. Aseana Street Tambo Parañaque City 25.
AI, LONG Chinese
CHINESE CUSTOMER SERVICE
26.
CAO, YAN Chinese
CHINESE CUSTOMER SERVICE
CHEN, ZEHUA Chinese
CHINESE CUSTOMER SERVICE
CHEN, JIAQI Chinese
CHINESE CUSTOMER SERVICE
27. 28. 29.
CHENG, ZIHAO Chinese
70.
HOANG NGOC THUY Vietnamese
MANDARIN CUSTOMER SERVICE REPRESENTATIVE
71.
LE VAN HANH Vietnamese
MANDARIN CUSTOMER SERVICE REPRESENTATIVE
72.
WANG, DENGXIU Chinese
MANDARIN CUSTOMER SERVICE REPRESENTATIVE
BIG EMPEROR TECHNOLOGY CORP. 5f-13f, Jiaxing Tower Building Aseana Avenue, Aseana Business Park Tambo Parañaque City 73. 74. 75.
30. 31.
GONG, CHENG Chinese
32.
GUAN, XIONGWEI Chinese
33.
GUAN, SHUIBO Chinese
CHINESE CUSTOMER SERVICE
34.
HAO, ZHENNAN Chinese
CHINESE CUSTOMER SERVICE
CHINESE CUSTOMER SERVICE CHINESE CUSTOMER SERVICE CHINESE CUSTOMER SERVICE
HE, QIUPING Chinese
CHINESE CUSTOMER SERVICE
36.
HE, PANPAN Chinese
CHINESE CUSTOMER SERVICE
37.
HOANG VAN HIEP Vietnamese
CHINESE CUSTOMER SERVICE
38.
HU, SHENG Chinese
CHINESE CUSTOMER SERVICE
39.
HUANG, JIALU Chinese
CHINESE CUSTOMER SERVICE
40.
HUANG, YANYUN Chinese
CHINESE CUSTOMER SERVICE
41.
HUANG, ZHENPING Chinese
CHINESE CUSTOMER SERVICE
42.
HUANG, PENGBIN Chinese
CHINESE CUSTOMER SERVICE
43.
HUANG, QIUYAN Chinese
CHINESE CUSTOMER SERVICE
COMPUTER SYSTEM ANALYST
LING MONH SING Malaysian
COMPUTER SYSTEM ANALYST
TIN TUN WIN Myanmari
COMPUTER SYSTEM ANALYST
76.
FENG, DANDAN Chinese
MANDARIN CUSTOMER SERVICE
77.
GUAN, YUE Chinese
MANDARIN CUSTOMER SERVICE
78.
GUO, CHAOLIANG Chinese
MANDARIN CUSTOMER SERVICE
KANG, QING Chinese
MANDARIN CUSTOMER SERVICE
CHINESE CUSTOMER SERVICE
DO THI OANH Vietnamese
35.
BAOLONG TECHNOLOGY INDUSTRY GROUP LIMITED INC. 20-29th/f Century Diamond Tower Kalayaan Ave. Cor. Salamanca St. Poblacion Makati City
AUNG MIN TUN Myanmari
79. 80.
LAI, JIAQI Chinese
MANDARIN CUSTOMER SERVICE
HSU, CHING-WEN Chinese
MARKETING CONSULTANT (MANDARIN SPEAKING CLIENTS)
100.
CHEN, MINGLIANG Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
101.
DU, DONGLIANG Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
102.
GE, FENGLI Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
103.
LAI, NINI Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
104.
WANG, JINYU Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
105.
WU, GUIPENG Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
106.
XIANG, KUN Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
107.
XIAO, TAO Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
108.
XIE, YAJUN Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
109.
YIN, KAI Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
110.
TEE HWEE LU Malaysian
MALAYSIAN CUSTOMER SERVICE REPRESENTATIVE
FRONTIER TOWER ASSOCIATES PHILIPPINES INC. Ug/f Somerset Olympia Bldg. 7912 Makati Ave. Urdaneta Makati City
JT INTERNATIONAL (PHILIPPINES) INC. Penthouse, W Office Building 28th St. Cor. 11th Avenue Fort Bonifacio Taguig City 126.
YAMAMOTO, SHOTARO Japanese
PEOPLE AND CULTURE BUSINESS PARTNER
LOGICALSOURCE1 CALL CENTER INC. 8/f Sultan Cityland Central Brgy. Highway Hills Mandaluyong City 127.
DAI, JIANRONG Chinese
CUSTOMER SERVICE REPRESENTATIVE
128.
DENG, CHAO Chinese
CUSTOMER SERVICE REPRESENTATIVE
129.
LAU NGOC MINH Vietnamese
CUSTOMER SERVICE REPRESENTATIVE
MINGCHAO INC. G/f Alphaland Makati Place Ayala Ave. Cor., Malugay St. Bel-air Makati City 130.
CAO, LEI Chinese
CHINESE CUISINE SPECIALIST CHEF
131.
BAI, XIAOWEI Chinese
CHINESE CUISINE SPECIALIST COOK
132.
FAN, YUANLE Chinese
CHINESE CUISINE SPECIALIST COOK
MOA CLOUDZONE CORP. 4th-11th Flr. Nexgen Tower C4 Rd. Edsa Ext. Brgy. 076 Pasay City 133.
GUO, PING Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
134.
HE, XING Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
135.
LI, XUGUANG Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
136.
LI, YANHAI Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
137.
MU, MINGXUAN Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
138.
NIE, BINGQUAN Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
139.
WU, DONGQING Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
140.
YAN, HUAXIN Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
141.
YANG, JIE Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
142.
ZHANG, JIBIN Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
143.
ZHANG, QIXIAN Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
144.
ZHANG, PENG Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
CHIEF COMMERCIAL OFFICER
NEW ORIENTAL CLUB88 CORPORATION 3rd, 5th, 6th, 7th, 8th, 9th & 10th/f Pearl Marina Building Pacific Drive Don Galo Parañaque City
112.
KNOWLES, TIMOTHY SUTHERLAND British
CHIEF FINANCIAL OFFICER
145.
BAI, NAN Chinese
CHINESE CUSTOMER SERVICE
113.
SHEPERD, ANDREW GEORGE British
DEPUTY CHIEF FINANCIAL OFFICER, TREASURER AND CONTROLLER
146.
HUANG, ZHIQIANG Chinese
CHINESE CUSTOMER SERVICE
147.
MA, XIAOPENG Chinese
CHINESE CUSTOMER SERVICE
148.
MEI, WANGJUN Chinese
CHINESE CUSTOMER SERVICE
149.
QIN, HONGHUA Chinese
CHINESE CUSTOMER SERVICE
150.
TAO, DONGDONG Chinese
CHINESE CUSTOMER SERVICE
151.
XI, PENG Chinese
CHINESE CUSTOMER SERVICE
152.
YAN, ZHAOLONG Chinese
CHINESE CUSTOMER SERVICE
153.
ZHANG, JIYANG Chinese
CHINESE CUSTOMER SERVICE
154.
ZOU, BENZHU Chinese
CHINESE CUSTOMER SERVICE
FUXINGYING CAIYUN HENTONG, CORP. 7th, 8th, 9th, 10th Floor Eton Ewestpod Chino Roces Avenue Cor. Yakal & Malugay Streets San Antonio Makati City 114.
LI, YANLING Chinese
CUSTOMER SERVICE REPRESENTATIVE
GENX SPORTS & MEDIA PRODUCTION CORP. 11/f Aseana I Bldg. Bradco Ave. Aseana City Tambo Parañaque City 115.
NING, LIJIN Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
GLOBALLGA BUSINESS PROCESS OUTSOURCING Ground Level, Level 2-5 Floor Silver City 4, Ortigas East Ugong Pasig City 116.
AN, XI Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
LEI, DEFENG Chinese
MANDARIN CUSTOMER SERVICE
117.
82.
MI, YE Chinese
MANDARIN CUSTOMER SERVICE
118.
LIU, YAHONG Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
83.
RAO, JUNTAO Chinese
MANDARIN CUSTOMER SERVICE
119.
MEN, HAIHUA Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
84.
SUN, CHAO Chinese
MANDARIN CUSTOMER SERVICE
120.
ZHANG, YINGWEI Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
85.
WANG, NAN Chinese
MANDARIN CUSTOMER SERVICE
121.
ZHENG, LIANFU Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
86.
WANG, JIAN Chinese
MANDARIN CUSTOMER SERVICE
HUAWEI TECHNOLOGIES PHILS. INC. U-5302, 53/f Pbcom Tower 6795 Ayala Ave., Cor., V.a. Rufino St. Bel-air Makati City
87.
XIE, SHUIJIANG Chinese
MANDARIN CUSTOMER SERVICE
122.
MANDARIN CUSTOMER SERVICE
MARKETING DIRECTOR
KROON, HENDRIKUS JOHANNES BERNARDUS Dutch
81.
YU, JINGJING Chinese
LEE, KYUWOONG South Korean
111.
LI, KUNMEI Chinese
88.
SERVICE DESK TECHN SPEC LEVEL 130
MANDARIN SPEAKING CUSTOMER REPRESENTATIVE
94.
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
EKRA, VIRGILE ANGE LANDRY Ivorian
LIN, SHUAI Chinese
CHINESE CUSTOMER SERVICE
AMUSETECH BUSINESS OUTSOURCING 2/f Rivergreen Residences 2217 Pedro Gil St. 096, Bgy 880 Santa Ana Manila
124.
91.
LIANG, XIAOMIN Chinese
21.
IQVIA SOLUTIONS OPERATIONS CENTER PHILIPPINES INC. 4th Floor, One World Square Upper Mckinley Road Fort Bonifacio Taguig City
CHINESE CUSTOMER SERVICE
51.
18.
I.T TECHNICAL MANDARIN
90.
CUSTOMER SERVICE REPRESENTATIVE
17.
LUO, HAIYAN Chinese
POSITION
MANDARIN SPEAKING CUSTOMER REPRESENTATIVE
LI, JIAN Chinese
16.
123.
FOREIGN NATIONAL / NATIONALITY
GONG, HAIBO Chinese
4.
ACSTREAM MANAGEMENT INC. 2204b/2206, 22/f Pbcom Tower Ayala Avenue Bel-air Makati City
NO.
ZHOU, LINGJUN Chinese
SENIOR SOLUTION MANAGER FOR SAFE PHILIPPINES AND BDO UNIBANK STORAGE PROJECTS
INVECH TREASURE PROCESSING CORPORATION Ground, 2nd, 3rd, 4th, 5th Floor Six West Campus Mckinley West Fort Bonifacio Taguig City
NINTH PRINCE MUSIC RESTAURANT U-112, 115 Shore 1 Residences Seaside Blvd. Cor. Sunrise Dri Brgy. 078 Pasay City 155.
HU, GANG Chinese
CHINESE COOK
NOCMAKATI, INC. 8,9,10,11,12,14,15,16,17,18 & 19 Floors Century Diamond Center Kalayaan Ave. Cor. Salamanca St. Poblacion Makati City 156.
CAI, JUNJIE Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
157.
CAI, JUNKAI Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
158.
CHEN, SHUMENG Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
159.
CHEN, CHEN Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
160.
CHEN, HAO Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
161.
CHU, JIALUN Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
162.
DING, TIANFANG Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
News BusinessMirror
www.businessmirror.com.ph
Tuesday, December 29, 2020 A5
Cebu resort tweaks procedures for persons with special needs By Ma. Stella F. Arnaldo @akosistellaBM Special to BusinessMirror
P
LANTATION BAY Resort and Spa in Mactan, Cebu bared changes in its booking procedures and configuration of its property in a bid to make it more responsive to persons with special needs. In a news statement, the resort said it is modifying its “booking and reservations procedures, which now include a more focused interface allowing guests to provide advance notice should any members of their group require special needs. This will allow the resort to make preparations prior to the guests’ arrival and ensure a pleasant experience during their stay.” The resort made the announcement as it tries to head off possible sanctions from the Department of Tourism (DOT), which is investigating it for probable violations of the Magna Carta for Persons with Disability. This stemmed from a review on TripAdvi-
sor, in which a guest complained that the resort was not friendly to children with special needs. The DOT gave the resort until December 17 to respond to a “show-cause order” why its accreditation should be approved given the guest allegations. (See, “Plantation Bay accreditation up for renewal; top manager resigns post,” in the BusinessMirror, December 15, 2020.) Regarding the resort’s accreditation, DOT Spokesman and Undersecretary Benito C. Bengzon told the BusinessMirror, “The matter is now being discussed internally.” He did not give a time frame, however, when a decision on the resort’s accreditation or any sanctions would be issued. Resort General Manager Cherry Allego also said certain areas in the property are now being “reconfigured” to allow flexibility in guests handling. She noted, “Many of the resort’s clients, including the elderly and those with certain kinds of disability, prefer low noise levels.” As such, it is “remodeling one of its
freshwater swimming pools, which will be exempt from the resort’s general ‘low noise level policy’ during scheduled times. This pool is in an enclosed, easy-to-monitor area to compensate for the increased safety risks posed by high noise levels. The area will also have a snack and beverage service.” In addition, the resort said it is setting aside a 1,000-square-meter Children’s Play Area “for more energetic children.” The play area includes wallclimbing, a children’s boot camp, play golf, and an electric go-kart circuit. The resort is currently planning further learning sessions for both management and staff, including inclusivity training for handling people with disabilities. Allego, said to have risen from Plantation Bay’s ranks with over 15 years of employment with the property, expressed confidence that “the resort will find other means of expanding its appeal to all kinds of clients, including those with various disabilities.”
DOH and RITM deny delivery of ‘expired’ test kits to Baguio lab By Claudeth Mocon-Ciriaco Correspondent
T
HE Department of Health (DOH) and Research Institute for Tropical Medicine (RITM) have denied reports that expired testing kits were delivered to a laboratory in Baguio City. “There were no expired RT-PCR test kits released to any laboratory based on delivery records and documents,” the DOH argued. Earlier, Baguio City Mayor Ben-
jamin Magalong revealed that some 50,000 RT-PCR test kits that were about to expire were received by a private diagnostic center in the city in October. Some of these test kits reportedly have expiry dates on October 10, October 15 and in November. However, the DOH and RITM denied this and emphasized that unlike medicines which have a shelf life of 3 to 5 years, “testing kits have a significantly shorter shelf life of 6 months from the
date of manufacturing.” “Test kits are fast-moving stock that have to be utilized immediately, considering that shipment and other laboratory processes already take up part of their already short shelf life,” the DOH said. Additionally, machine compatibility, technical issues, low testing referral count, and availability of supplies also contribute to low consumption of the Covid-19 test kits which in turn increase likelihood of expiry before use.
Data protection needs in 2021
By Henry J. Schumacher
Y
OU will agree with me that the global pandemic has sped up the process of digitalization and transformed the landscape of the economy in 2020. Many of my friends moved into ecommerce and are looking forward to expanding their entrepreneurial business in 2021, assuming that consumers will not dramatically change their habits in the year to come. Many businesses had no choice but to embrace online transactions and digital solutions as part of their effort to survive. Managers understood that data management became super important, from data collection to data analysis. However, what happened in the bid to quickly digitalize their business, they neglected efforts to build data protection aspects into their operational controls. Hackers and other malicious agents are waiting for an opportune time to take advantage of these situations and steal customer or employee data from these businesses. Having partnered with Straits Interactive Pte Ltd. years ago to drive data privacy protection and introduce Straits interactive ex-
cellent software solutions for data protection, we join Straits Interactive CEO and Founder , Kevin Shepherdson in highlighting the career that is quietly but surely on the rise, the one of the Data Protection Officer (DPO). First and foremost, a DPO’s task is to assist the organization to govern how personal data is being collected, used, disclosed, or stored within an organization according to the requirements of relevant data protection laws, like the Data Privacy Act in the Philippines. From an operational perspective, the responsibilities of the DPO and key players in the organization are to: • Assess the risks relating to the processing of personal data and this includes conducting a data protection impact assessment (DPIA). • Protect the organization by developing a data protection management program (DPMP) against these identified risks. This includes implementing policies and processes for handling personal data. • Sustain the above compliance efforts by communicating personal data protection policies to stakeholders including training; conducting audits, as well as ensure the ongoing monitoring of risks. • Respond and manage personal data protection related queries and complaints, as well as liaising with the data protection regulators (local and/or international) on data protection matters, especially if there is a data protection breach. As we head into the New Year, here’s a reminder that data protection never stops. In outsourcing work that involves personal data, the question arises whether you, involved in the BPO industry, have assessed your risks and mitigated them through contracts that you have with
your data intermediary (DI)? A DI is subjected to the Data Protection Provisions relating to the protection of personal data (Protection Obligation) and retention of personal data (Retention Limitation Obligation) when processing personal data on behalf of the Data Controller (DC) and for the DC’s purposes. This is all part of the Cross-Border Data Protection Rules that exist with the European Union, the US and Apec. It was good that the Philippines joined the Apec Cross Border Protection Rules (Apec CBPR) system but—unfortunately—has not supported the establishment of Accountability Agents (AA) yet. AAs are needed to certify companies involved in cross-border transfers of personal and sensitive data, establishing that the data given to these companies is well protected. The question remains when the National Privacy Commission will finally get its work done to set the rules for the establishment of badly needed AAs. Finally, given the importance of data protection at a time when pandemic forces organizations to gather health information on tracing and very soon on vaccination, we are running regular webinars on “Data Privacy & Protection made simple.” We offer the online DPOinBOX platform to equip professionals, managers and executives with the competencies to perform their jobs in data protection. The DPOinBOX is not only assisting in the compliance with the Philippine Data Privacy Act but also with the EU’s General Data Protection Regulation (GDPR). If assistance is needed or demos on the automation of data privacy protection processes are desired, contact me at schumacher@eitsc.com
A6 Tuesday, December 29, 2020 • Editor: Angel R. Calso
Opinion BusinessMirror
www.businessmirror.com.ph
editorial
Christmas of survivors
W
E have heard it said that a crisis is like a magnifying glass. It enlarges our understanding of our helplessness and helps us see clearly our need for God.
Indeed, the year 2020 saw a lot of Filipinos suffering from one crisis after another. From Taal Volcano’s eruption in January, which resulted in the loss of livelihoods and buried once productive agricultural land in volcanic ash, to the catastrophic Covid-19 pandemic that soon followed, which has claimed over 9,000 lives in the country so far and sent our economy into a tailspin, to the powerful typhoons that left vast sections of the Philippines in ruins—it seems we Filipinos have seen death and destruction on a truly biblical scale this year. Amid these crises, we saw our congressional leaders apathetically vying for plum posts, in the process practicing the politics of division, hate, mudslinging and muckraking. We saw the double-edged nature of the government’s wars against communism and illegal drugs claim lives, drawing complaints of impunity and human-rights violations. Yet, despite all these bad things that happened to us in 2020, hope has not diminished among many Filipinos. Pulse Asia’s November 2020 Ulat ng Bayan survey showed that a total of 91 percent of Filipino adults are still optimistic about their prospects in 2021. IOptions Ventures’ nationwide online survey, called Sukat ng Bayan 2020, showed that while 50 percent of those polled said their Christmas is sadder this year, 80 percent are still hopeful for 2021. In his homily during Christmas Eve mass, Pope Francis said the birth of Christ is a gift from God that brings people hope and courage in troubled times. This seems especially true in the Philippines, the only Christian nation in Asia. Filipinos dare to be optimists even in these trying times. We see more hope in times of despair. We see more redemption when we’re down and out. Optimism has always been the majority sentiment among Filipinos when welcoming the New Year. Overwhelming majorities of the population across geographic areas and socioeconomic classes express hope, not fear or apprehension when a new year arrives. Not even the pandemic, the typhoons or the recent earthquakes could have changed our hopeful mood. We are just happy, hopeful people by nature, even after being hit by one crisis after another. We are able to celebrate Christmas no matter the circumstances. Hope always wins. As a line from the film The Shawshank Redemption goes: “Hope is a good thing, maybe the best of things, and no good thing ever dies.” There’s something truly valiant, beautiful and inspiring in our unwillingness to surrender our hope that things will eventually turn out for the better. The survivors of all these crises inspire us too with their unsinkable spirit and by their very optimism. Many have lost their loved ones and their homes, everything they hold dear, and yet they can still see redemption in the immediate horizon. They can still celebrate Christmas and find things to be thankful for. Even those who naturally felt fear, anger, confusion and grief because of what befell them can tell stories of hope. They have not sunk into deadly, debilitating despair. They have not allowed hate and bitterness to diminish them. Hope and redemption amid tragedy—is there a better Christmas message than this? The survivors remind us of what should matter most in the celebration of Christmas: family and friends, people giving and sharing themselves, the sense of shared sacrifice, the love that survives after everything has been taken away. It is easy to lose the significance of Jesus’s birth when we have everything we need and want. But the life of Jesus, who was born of peasant parents, in an animal’s stall, who would eventually be crucified between two thieves, tells us that his place is and will always be for the least, the lost and the last in society. Perhaps it is not so ironic that Christmas is most meaningful to those who have nothing and have lost everything. Perhaps that is what Christmas is truly about after all. Since 2005
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T
he current year is about to end and we all should look forward to 2021 as a year of hope, healing and quick recovery. We should welcome the New Year with plenty of aspirations. There is no sense in ruing about the events that transpired in 2020. We cannot undo the many bad things that befell the Philippines and the rest of the world. Every nation suffered the same pandemic fate that led to loss of millions of lives, jobs and livelihoods. We can only reflect on the year that was, and perhaps learn from the lessons that Covid-19 imparted on us. People will live in a new normal and discard some of the ways of doing things as the virus has taught us. The New Year will be equally challenging, as we are not out of the woods yet despite forthcoming vaccines. We should persevere, though, knowing that the virus can be defeated. President Duterte, in his Christmas message to the nation, conceded that 2020 was a trying time for all Filipinos. Many lives, he said, were lost and forever changed due to the Covid-19 pandemic and several natural calamities. But through it all, Duterte said the Philippines will continue to survive and rise because
of our unity, strength and the Filipinos’ indomitable spirit. I share President Duterte’s optimism despite the nation’s misfortunes. The economy and the Filipinos in general bore the brunt of the pandemic. Our gross domestic product is contracting for the first time in 30 years. The economy shrank nearly 10 percent in the first three quarters of 2020, with household consumption falling 9.3 percent and investment declining 41.1 percent in the third quarter. The Philippine economy paid the price for trying to contain the virus. Months of lockdowns, especially in the latter part of the first quarter and in the whole of the second quarter, led to thousands of business closures and millions of job losses.
2020: ‘That’s a wrap’
T. Anthony C. Cabangon Lourdes M. Fernandez
John Mangun
OUTSIDE THE BOX
Jennifer A. Ng Vittorio V. Vitug Lorenzo M. Lomibao Jr., Gerard S. Ramos Lyn B. Resurreccion, Dennis D. Estopace Angel R. Calso Ruben M. Cruz Jr. Eduardo A. Davad Nonilon G. Reyes D. Edgard A. Cabangon Judge Pedro T. Santiago (Ret.) Benjamin V. Ramos Aldwin Maralit Tolosa Rolando M. Manangan
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2021 is a year of hope and the time to persevere
I
N the early days of the movie industry, at the end of shooting a scene, the director would say, “That’s a wrap”—supposedly an acronym for “Wind Reel and Print.” All the filmed raw footage was sent to the processing lab. Select cast and crew members viewed the “dailies” to judge performances and technicals.
Similar to a “wrap” is an “autopsy” when a pathologist cuts a dead guy open to find out what killed him. The following is either a “wrap” or an “autopsy.” Beginning on January 24, 2020 with my editorial “China’s health problem is our problem,” I wrote more than one hundred pieces on the pandemic. This involved hundreds of hours of research both health-wise and economically. I can now say with absolute certainty and confidence that I still do not have a conclusion about what has been and is going on. If you do, then “You’re a better man than I am, Gunga
Din!,” and much smarter. Being simple minded, I am somewhat stunned by these events. November 18th: “Pfizer and BioNTech Conclude Phase 3 Study of Covid-19 Vaccine Candidate, Meeting All Primary and Secondary Efficacy Endpoints.” Then on December 16th, “New SARS-CoV-2 Variant Spreading Rapidly in UK.” While the “mutations are not expected to reduce effectiveness of vaccines,” the timing of the virus mutation is impeccable. The UK was shut down from the rest of Europe just as the UK/EU Brexit negotiations were at a critical phase. In May, “Corona-
Consumer spending slumped 9.3 percent in the third quarter, with many Filipinos—wary of catching the virus that has infected over 400,000 in the Philippines—avoiding shopping malls and restaurants. Sales and consumption in Metro Manila, which accounts for a third of the country’s output, dropped amid limited public transportation. Filipinos, in general, observed the health protocols espoused by authorities. Workers and consumers alike imbibed the discipline required in avoiding the virus. I’d like to believe that the Philippines has long flattened the Covid-19 infection curve. The Philippines just ranked 28th among countries with the most virus infections in the world, at 467,601 as of December 25. In contrast, our neighbor Indonesia was in 20th place with total cases of 700,097. Having said that, the Philippines should strive further to reopen the economy more. As I have written in this column before, restoring jobs to millions of Filipinos, along with the widespread distribution of vaccines, should be the country’s priority in the coming year given the discipline and health protocols being seriously observed by our population. The latest “improving” labor report reminded us of what an economic reopening can do in terms of employment. The unemployment rate in the country improved to 8.7 percent in October from 10 percent
in July and 17.6 percent in April, after the Philippines allowed more economic activities to resume. The National Economic and Development Authority has admitted that the unemployment rate could have been reduced if the economy were opened further and sufficient public transportation allowed. The Philippine economy has kept its potential to robustly expand. The contraction in the economy and the job losses along the way, as I’ve said before, are not long-term problems. The Philippines has maintained its solid macro-economic fundamentals—a manageable inflation rate, stable currency, high foreign exchange reserves and a skilled labor force and a young population. The political climate is also very stable, with President Duterte keeping his high approval rating despite the pandemic woes. The year 2021 is the time to stage the economic rebound. But first things first: Job generation should be the country’s priority in the coming year and authorities can greatly achieve the task if transport restrictions are eased to improve mobility. Our workers are a disciplined lot. They are aware of the health protocols and seriously implement them. 2021 should be their year and we owe it to them. HAPPY NEW YEAR!
virus mutations: Much ado about nothing—CNN.” Now, “Genetics experts worry coronavirus vaccines might not work quite as well against UK variant,” also from CNN. The mother of all coincidences: Virus mutates within a month of a vaccine(s) becoming available. Good job virus. It starts in the UK, which is ready to leave the European Union without a “deal.” Continental Europe closes its borders with the UK. Then “Covid-19 isolation gives Britain a taste of ‘no-deal’ Brexit chaos.” “Dear UK, you have been warned. Love, the EU.” I have had many incredible experiences in my life. But I can say without equivocation that 2020 was my most remarkable year. That contrasts with two local pundits. One wrote, “It has been an awful year.” The other said, “For most of us, 2020 is a forgetful year.” Most of life is all a matter of perspective. The number 4 is considered unlucky in Chinese because it is nearly homophonous to the word “death.” The British Medical Journal reported a study of mortality in the US over a 25-year period. On the fourth day of the month in California, Asians were 27 percent more likely to die
of a heart attack. In English, the number “four” sounds like “fortunate.” A table with four legs is the most stable. Making broad generalizations about the horrible effects of the pandemic is a fine “intellectual exercise.” I, too, had a very close friend suffer miserably through his Covid illness, and yes, I feared for his survival. But I will remember 2020 as the year when my family and neighbors actively looked for ways to help other people suffering more. It was an awful year for a family that lost their commercial remodeling company. It is a year to remember as they built a now thriving fruit/vegetable business. Probably, I am the unique exception. All the plans I made for 2020 “died” from Covid. Yet, despite all the hardship, I have never been closer to my wife and sons. And as a family, we can take anything 2021 throws at us. Happy New Year.
For comments, e-mail mbv.secretariat@gmail. com or visit www.mannyvillar.com.ph.
E-mail me at mangun@gmail.com. Visit my web site at www.mangunonmarkets.com. Follow me on Twitter @mangunonmarkets. PSE stockmarket information and technical analysis tools provided by the COL Financial Group Inc.
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Opinion
Fearless forecast 2021
MacKenzie Scott–The ultimate giver
BusinessMirror
Manny F. Dooc
Dr. Carl E. Balita
TELLTALES
Entrepreneurs’ Footprints
L
ife is not all about Covid-19. We are done hiding with fear of the novel microscopic enemy that modern science had enough time to now understand and we brace to confront it—and its variants—fearlessly. Courage is not the absence of fear. It is the mastery of fear. The year 2020 has forced us into virtuous courage with survival as a short-term objective and growth as a mid- to long-term goal. Just like a prey rolling with every punch of the invisible predator and who is pushed against the wall to fight or flight, entrepreneurs are seeing 2021 as an opportunity to survive and, with a dose of new year optimism, to bounce back. Entrepreneurs would rather aim to fight for success and miss it, than to aim to fail or quit and achieve it. The following are the bases of these forecasts. These 12 observations may also help entrepreneurs in reflecting for innovation of products and services and in pivoting business models and enterprises to adapt and create a better normal. 1) The realization of humanity to co-exist with the coronavirus and its mutated variants and the other health concerns that pre-existed prior to the pandemic which were neglected as if Covid is the only illness; 2) The availability and effectiveness of the vaccine and willingness of the Filipino to voluntarily avail of it; 3) Government policies and regulations that would enable or restrict business that could empower or discourage entrepreneurs, respectively; 4) Continued physical distancing and health protocols enforced by government and self-imposed by people on themselves and others in a paranoid economy; 5) The changed lifestyle and living style as well as preferences that we as consumers learned from the almost yearlong quarantine; 6) The meaningful reflections and the values of the younger GenZ and the millennial generations whose patronage is biased for the purpose-driven enterprises and whose familiarity with technology makes digital transactions a fulfilling lifestyle; 7) The older generation of Baby Boomers and Gen X who migrated into digital transactions and who are getting more addicted to the convenience they bring; 8) The new roles of homes in the way we work, do business, socialize and learn; 9) The transforming hyper-proactive e-commerce which is driven by the solution it wants to offer the very receptive markets in the digital world; 10) The buying capacity of the markets as well as their willingness to spend, given the traumatic lessons of the financial crises and the impact of current and sustaining recession; 11) The returning overseas Filipinos, the retired and early-retired employees and the optimists who may still have the financial resources to invest their money in business, realizing that there are emerging needs and pain-points across almost all sectors; and 12) The election fever which is already felt and which will pour in money to the suppliers of their campaign requirements and to the electorate they are poised to bribe. Given these, here are some of the expected trends in innovating products and services of businesses and in business models and pivots of enterprises. The aspiring entrepreneurs may also pick up some ideas and take the entrepreneurial plunge. Many of these already exist but may be exploited further. 1) Agricultural produce will be delivered direct from sources to family home kitchen, as farmers learn and get more support from concerned social entrepreneurs to digitalize. Food producing habits will shift the plantitos and plantitas to take more pride posting on social media fresh harvests from their pots and backyard gardens, rather than ornamentals. 2) Natural and healthy food alter-
natives, preferably organic, which will be priced cheaper because of higher demands and more direct supply, and because of the competition and the social-media informed market. Vegetables and seafoods will be preferred over meat if prices are comparable. The reduction of middle traders in between producers and consumers will lead to more reasonable price. 3) Homemaking and house maintenance products and services with a productive do-it-yourself alternative will be offered by entrepreneurial architects, engineers, interior decorators and technicians as solutions to families living, working and studying in the same home space. On-call gardeners, janitors, cleaners and pet groomers from trustworthy neighborhood providers will be legitimized and patronized. 4) There will be a rise in affordable but legitimate franchising that gives investors more confidence in taking the venture amid the crisis. It is the Golden Age of Franchising, as envisioned by its father, Dr. Samie Lim. Franchising will reinvent itself to adapt to the crisis as it remains the most reliable business success model. 5) The professionals will be more entrepreneurial in offering their services in a more mobile manner. Doctors, dentists and veterinarians may go back to the old practice of home visits, but this time, supplemented by telemedicine. Nurses and midwives may have to revert to attending to home birth as families find it safer and surely, cheaper. Psychologists and counsellors as well as optometrists may need to hit the road to attend to clients in their living room, or even provide “drive-thru” service. These are all subject to ethical issues that may be raised by their respective regulators. Many elements of healthcare may just be efficiently delivered in a mobile mode like laboratory, sight refraction and eye wear selection, wound care and post-surgery follow-up, physical therapy and other rehabilitative services, and more. 6) Personal services may go in the comfort of homes like how massage and nail care had been done even before the pandemic. This may expand to include haircut and treatments, facial treatments, and others. While these personal services are pampering treats achieved in salons and barbershops, the offer of the same in the comfort of a more controlled settings of homes, or even garage or backyard, may re-orient market preference towards them. The personal care enterprises need to prove safety of clients, otherwise the home service, being in a more controlled environment, will be more preferred. 7) Personal Tutorial offered both virtually and physically or its combination will become a solution to the perceived academic learning gaps in schools’ blended learning modalities. Entrepreneurial educators who may not need any physical center or infrastructure to engage in them may undertake these. Other lifelong learning areas will emerge in the online learning of language, culinary skills, continuing professional development (CPD) requirements for professionals, skills certifications or simple life skills. To be continued tomorrow. For feedback, please send e-mail to drcarlbalita@ yahoo.com.
M
any business moguls have reached a point where accruing material wealth for their own aggrandizement is no longer the end goal of life. After amply providing for one’s financial needs and security of their family, and even future generations, their concerns have shifted outside their households. They become involved in their neighbors’ plight and become more socially conscious of their role in society. Many of them have fully embraced the concept of stewardship as a way of life, a practice of giving back to the less fortunate what God has blessed them with. Nothing is nobler than sharing one’s fortune to the poor and the dispossessed particularly during this Season of giving.
MacKenzie Scott is a 50-year-old former wife of Jeff Bezos, acknowledged by many as the world’s richest individual with a net worth of close to $200 billion. Scott graduated from Princeton University earning a BA degree with highest honors in 1992. Her future husband, Bezos, graduated from the same university six years earlier. It’s unlikely that they met in school but they worked together in D.E. Shaw, a hedge fund in New York. Scott served Bezos, one of the firm’s vice presidents, as his assistant. She got employed to pay the bills while she was writing her first novel. The two became a couple and they got married in 1993. The following year, the couple resigned from their jobs and decided to move to Seattle to start their own business. While Bezos was working on their future company’s business plans inside the car, Scott was on the wheels negotiating the long cross-country trip from New York to Seattle. Together, they came up with the company name, Amazon. It’s likely that Scott came up with the name, and Bezos merely
concurred, since Amazon refers to a strong, warrior-like woman or a statuesque, athletic woman that Scott personifies. While Bezos was the architect for the monumental success of Amazon, no one disputes that Scott was a significant partner to the birth and early growth of the company. She helped Amazon take off out of the garage, which was Amazon’s first office. Scott managed the fledgling company’s finances and was instrumental in getting early businesses for the company. They have three sons and an adopted daughter from China. Helping out in the business and attending to the needs of their four children required full time concentration. And she was writing her first novel, which was completed only after 10 years’ work. Business observers claim that there would have been no Amazon without Scott. They divorced in 2019 after 25 years of marriage, which saw Amazon emerged as a giant e-commerce company with a wide range of diversified businesses. Starting out
Tuesday, December 29, 2020 A7
Many filthy rich are to a manor born. They just live off their inherited wealth, which ordinately grows under the watch of their professional managers. They have not toiled all their lives and never experienced any hardship, which every ordinary working man, if they have any job at all, encounters everyday of his life. They are callous to the untold sufferings of the people around them. as a book retailer, it has become the largest e-commerce company in the world. It is the acknowledged leader in online selling, subscription and web services. It is the top rival of some of the largest companies in the world—Walmart in retail business; Netflix, Apple and Google in subscription services; and Oracle, Microsoft, Google and Alibaba in web services. Its physical stores have occupied a huge footprint, which have crowded out Costco, Best Buy, Target and Walmart. It also owns The Washington Post and the Blue Origin, an aerospace outfit which is engaged in developing rockets for commercial use. Amazon is a well-diversified group with each line contributing heavily to its massive revenues. Last year, Amazon posted $280.5 billion in revenues and recorded $11.5 billion net profit. It was reported that Bezos transferred 1/4 of his interests in Amazon to Scott, making her one of the wealthiest individuals on the planet. Her net worth has significantly increased during the pandemic. Of this, she wrote: “This pandemic has been a wrecking ball in the lives of Americans already struggling. Economic and health outcomes alike have been worse for women, for people of color, and for people
living in poverty. Meanwhile, it has substantially increased the wealth of billionaires.” By September 2020, Scott became the 22nd richest person in the world and the world’s richest woman with a net worth estimated at $62 billion. She vowed to give 50 percent of her wealth to charity. Last year, Scott signed the campaign, “Giving Pledge,” where she committed to donate most of her wealth to worthy causes and charities. Last July 2020, Scott had donated $1.7 billion to charity consisting of 116 non-profit organizations. She also gave to black universities—Howard University and Morehouse College. With the donations, she further instructed her financial advisors to distribute her wealth faster to cope with the worsening impact of the pandemic. This month before Christmas, Scott announced that she has donated another $4.15 billion to 384 organizations focusing on people directly affected by Covid-19. Overall, she has given away a total of almost $6 billion to worthy organizations and causes around the world. So far, she has given up $6 billion of her wealth. Her first novel, The Testing of Luther Albright in 2005 won her the American Book Award in 2006. Time Magazine recently named her one of the 100 Most Influential People of 2020. Many filthy rich are to a manor born. They just live off their inherited wealth, which ordinately grows under the watch of their professional managers. They have not toiled all their lives and never experienced any hardship, which every ordinary working man, if they have any job at all, encounters everyday of his life. They are callous to the untold sufferings of the people around them. They bury their heads in the ground to mute the anguish of their impoverished fellowmen. But not McKenzie Scott. She’s the ultimate giver.
Tax sparing: Requirements for availment Fulvio D. Dawilan
Tax Law for Business
A
number of taxpayers had recently been soliciting advice regarding their entitlement, as well as the procedures and other requirements for availing the tax-sparing provision in the Tax Code. This is triggered in part by the need to declare dividends to avoid the imposition of the improperly accumulated earnings tax (IAET). Our advice was made based on the prevailing rules at that time. The general rule is that dividends received from the Philippines by nonresident foreign corporations are subject to income tax at the rate of 30 percent. This is paid in the form of final withholding tax, which is required to be remitted to the tax authority by the corporation paying the dividends. There are, however, instances where this 30 percent tax rate may be reduced. One is through the availment of the preferential tax rates provided in the tax treaties, if any, between the Philippines and the country of residence of the recipient of the dividends. The other instance is through the availment of the tax sparing provision in our Tax Code. This tax-sparing credit provision allows the reduction of the 30 percent tax rate to 15 percent, on the condition that the country in which the nonresident foreign corporation is domiciled allows a credit against the tax due from the non-resident foreign corporation taxes deemed to have been paid in the Philippines equivalent to the difference between the regular tax rate and the 15 percent tax on dividends. This tax-deemed paid happens to be also at 15 percent (30 percent to 15 percent) based on current tax rate. A decision of the Supreme Court (GR 68375, April 15, 1988) interpreted this rule to include an instance where the country of residence of the corporate stockholder does not impose any tax on the dividends derived
from the Philippines. Thus, there are two instances where the tax sparing provision will apply, which are: (a) the country of residence of the corporate shareholder allows a credit of 15 percent tax deemed to have been paid in the Philippines, and (b) the country of residence of the corporate shareholder does not impose any tax on the dividends. This means that a tax relief is available in the home country of the foreign corporation, either through a grant of tax credit in the home country for the tax waived by the Philippines or by not imposing any tax on the dividends. The tax treatment of the dividends in those countries should therefore be considered. A reference has to be made to the applicable laws of the country where the income recipient/shareholder has its tax residence. These two instances had been made clear by the Court decisions and by the issuances by our tax authority. Thus, the countries where corporate shareholders could reside and avail of the reduced tax on dividends are more or less established. These will, of course, change with the changes in the tax laws of those countries. What remain to be unclear are the procedures in availing the tax-sparing provision. The current tax laws and the implementing regulations prescribed no particular guidance in availing or establishing entitlement to the tax-sparing provision. An attempt was made in the past
through Revenue Memorandum Order (RMO) 27-2016, requiring an application for a ruling to avail of the 15 percent tax-sparing rate. However, this was suspended and never took off. Taxpayers were left with no specific guidelines to be followed in availing of the 15 percent tax rate. Perhaps realizing the need to provide a system for foreign corporations intending to avail of the reduced tax on dividends and to simplify the manner of confirming the entitlement to such rate, as well as to provide uniformity in the documentary requirement, the Bureau of Internal Revenue issued RMO 462020 (December 23, 2020). Among other features, the RMO provides that the domestic corporation paying the dividends may remit outright the dividends to the foreign corporation and apply the reduced tax rate of 15 percent without securing first a ruling from the BIR. The paying corporation should, however, determine whether the existing law of the home country of domicile of the payee allows a “deemed paid” tax credit in an amount equivalent to the 15 percent waived by the Philippines or exempts from tax the dividends received. However, within 90 days from the remittance of the dividends or from the determination by the foreign tax authority of the deemed paid tax credit/non-imposition of tax because of the exemption, whichever is later, the foreign corporation shall file with the International Tax Affairs Division of the BIR a request for confirmation for the applicability of the reduced dividend rate of 15 percent. There is therefore a requirement for an after-the-fact confirmation of the reduced rate. The BIR will issue a certification in lieu of a ruling. The application for the reduced tax rate requires certain documentary requirements both coming from the foreign corporation and the domesticpaying corporation. Aside from the usual corporate documents of the foreign corporation, the documentary requirements include: (a) authenticated or apostilled copy of the law of the country of domicile allowing
a tax credit for taxes actually paid in the Philippines and for taxes deemed paid in the Philippines equivalent to at least 15 percent, and (b) duly authenticated or apostilled copy of any document issued by, or filed with, the foreign tax authority showing the amount of deemed paid tax credit actually granted by the foreign tax authority. These requirements apply if the dividend is taxable in the country of residence. If the dividend is exempt in the country of residence, these documents will instead be required: (a) duly authenticated or apostilled copy of the law of the country of domicile, and (b) duly authenticated or apostilled copy of any document issued by the foreign tax authority confirming that the foreign corporation is exempt from tax on dividends received from a Philippine corporation. We will reserve for the subsequent articles the discussion on the concerns already being raised related to the requirement for application and the documents required upon application. What is important at this juncture is for the taxpayers to be aware of this new rule and be ready for its compliance. As a last note, the 30 percent tax rate mentioned above may soon be reduced once the Corporate Recovery and Tax Incentives for Enterprises Act is passed. The same holds true for the “tax-deemed paid” of 15 percent. Also, included in this proposed law is the repeal of the Improperly Accumulated Earnings Tax. Hence, the declaration of dividends may no longer be anchored on the need to avoid the IAET, but based on business considerations. The author is the Managing Partner of DuBaladad and Associates Law Offices (BDB Law), a member-firm of WTS Global. The article is for general information only and is not intended, nor should be construed as a substitute for tax, legal or financial advice on any specific matter. Applicability of this article to any actual or particular tax or legal issue should be supported therefore by a professional study or advice. If you have any comments or questions concerning the article, you may e-mail the author at fulvio.dawilan@ bdblaw.com.ph or call 8403-2001 loc 310.
A8 Tuesday, December 29, 2020
PALACE DEFENDS COVID VACCINE USE BY DUTERTE AIDES; FDA ISSUES ALERT By Samuel P. Medenilla @sam_medenilla,
By Rene Acosta
@reneacostaBM
& Butch Fernandez
@butchfBM
R
EVELATIONS that some soldiers and government officials were vaccinated against Covid-19 has sparked a firestorm, with Palace officials defending the act as regulators asserted “no violation was commited,” even though the Food and Drug Administration (FDA) reiterated it had not yet issued “any Emergency Use Authorization [EUA]” to any vaccine for Covid-19. FDA Director Eric Domingo issued the reminder following reports that certain individuals have received vaccines against Covid-19 and reiterated its public advisory (FDA 20201395-00-A) counseling ex treme caution in the purchase and use of vaccines claiming to be safe and effective against the virus. “Rest assured that the FDA is observing utmost diligence in the regulation of vaccines. Vaccines will only be approved if there is a reasonable scientific evidence to show that benefit outweighs risk,” Domingo said on Monday. Asked by the B usiness M irror if there was a violation after some soldiers, members of the Presidential Security Group, and government officials were given the Covid vaccine, Domingo replied: “Walang violation ang nagpabakuna [There was no violation].” He added: “Ang bawal ay ang [What is prohibited is ] importing, distribution and dispensing of unregistered drugs.” He said the manufacture, importation, exportation, sale, offering for sale, distribution, transfer, non-consumer use, promotion, advertisement, or sponsorship of any unauthorized vaccine is prohibited —a point echoed separately by Presidential Spokesman Harry Roque, a lawyer. Th e F DA s a i d c o m m i s sion of such prohibited acts may lead to possible liabilities provided under the law.
“The FDA will coordinate with other agencies and take appropriate regulatory action involving any unauthorized vaccines,” the FDA added. Meanwhile, the Department of Health (DOH) maintained that all vaccines should undergo the evaluation and regulatory process of Philippine regulatory and expert bodies. “We also reiterate that the use of unregistered products poses harm to a person’s health and safety,” the DOH stressed. This is why, the DOH said, only vaccines which have been approved and found to be safe should be administered. On Monday, Malacañang said the use of unregistered vaccine by some members of the Cabinet and “soldiers” was not illegal. In an online press briefing on Monday, Roque said an individual has the “personal choice” to use a vaccine, whether it is registered or not, but they are still bound by FDA regulations, when it comes to how they were able to access such imported item. “The law does not prohibit people from injecting themselves unregistered [vaccine]. What is illegal is its distribution and selling,” Roque said. Currently, FDA has yet to authorize any clinical trial or approve an EUA, which would have allowed the impor tation, distribution as well as a d m i n i s t rat i o n o f a ny Co vid-19 vaccine. In fact, FDA and concerned agencies have conducted several raids specifically meant to confiscate unregistered vaccine, which it discouraged the public from purchasing and using due to safety concerns. But in the case of Sinopharm, Roque said, its vaccine is safe since its use was already approved in China and the United Arab Emirates (UAE).
A
By Elijah Felice E. Rosales
W
@alyasjah
ITH the election of a new president in the White House, the Philippines is exploring the option of joining another multilateral trade deal to boost economic relations with the United States. Trade Assistant Secretary Allan B. Gepty told reporters the Department of Trade and Industry (DTI) is now looking into the possibility of signing up for the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). This review was triggered, he said, by the election of Democrat Joseph R. Biden as new US president. It will also boost the country’s trade activities that would help exporters bounce back from the ill effects of the Covid-19 pandemic,
Gepty added. Manila in November agreed to sign the Regional Comprehensive Economic Partnership (RCEP) after years and years of negotiating the economic package between Southeast Asian nations and their trading partners. With the RCEP’s conclusion, Philippine negotiators now have all the time to look into other trade deals, such as the CPTPP. “Now that we have concluded the RCEP, it might accelerate the
discussions for other FTAs [free trade agreements], as it gives us more resources to devote for other FTAs, including the review of existing ones,” Gepty said. At present, the Philippines enjoys duty-free trading with the US under the Generalized System of Preferences (GSP). With a GSP status, the Philippines can ship a total of 5,057 products, or close to half of the 10,600 US tariff lines, to the American market at zero or reduced tariffs. However, the country’s GSP is set to expire this year, and there is no certainty the US Congress will pass another GSP for the Philippines the soonest, Gepty said.
New GSP uncertain
According to the trade official, it will be difficult to secure another GSP at this time given the political situation in Washington. Aside from its struggle to contain local Covid-19 transmission, the White House is set to transition from Donald J. Trump to President elect Biden in January, which means new
agenda will be set across all fronts, including in trade. This is why it’s important for the Philippines to study its cards and weigh its options in engaging the US, making participation in the CPTPP, a likelihood as the US is seen to rejoin the trade deal with the election of Biden. Upon taking oath in office in 2017, Trump withdrew the US from the CPTPP to shift to a trade policy that promotes protectionism. Without the US, the CPTPP signatories are Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. Combined, the 11 parties to the trade deal represent around 495 million consumers and 13.5 percent of global GDP. Based on official records, bilateral trade between Manila and Washington reached $21.4 billion last year. Shipments to the US totaled $12.8 billion, while imports amounted to $8.6 billion. As such, the Philippines maintained a goods surplus of at least $4 billion.
Official confirmation
Roque confirmed Duterte’s remarks at his public address last Saturday that some soldiers were inoculated with the vaccine from Chinese drug maker Sinopharm. See “Covid vaccine,” A2
80% of Pinoys see ’21 being better, despite pandemic–Veritas poll
ROUND 80 percent of Filipinos are confident that 2021 will be much better than this year. This, according to a new survey of Veritas Truth Survey (VTS) of Church-run Radyo Veritas to determine the confidence level of Filipinos next year. Of the 1,200 respondents of the survey, 48 percent said they are “confident” next year, while 31 percent said they are “very confident.” Veritas TS head sociologists Clifford Sorita attributed the higher percentage of those “confident” than those “very confident” to their disastrous experience this year, which left them with cautious optimism. “ T he e x per iences brought about by 2020—our Taal Volcano Eruption, Typhoons Ambo, Rolly, Siony and Ulysses plus this Covid-19 [novel coronavirus disease]
With new US chief, PHL eyes another global trade accord
Pandemic—has prompted our respondents to choose a somewhat cautious optimism towards 2021,” Sorita said. He said these optimistic individuals are hoping for the best, but are still ready for more difficulties and disappointments next year. The government earlier said it is anticipating the effects of the pandemic will linger up to the next two years. Only 14 percent of the VTS participants said they are somewhat confident, while 7 percent said they are not very confident with their outcome of 2021. The VTS covers 1,200 respondents nationwide, which has a +/3% margin of error (gathered through a text based and online data gathering process). It was conducted from November 20 up to December 20, 2020. Samuel P. Medenilla
A fruit vendor arranges assorted fruits being sold at San Andres Market in Manila as the prices of fruits have started to rise before the New Year. According to the vendor, prices of all fruits have increased by P100 on average per kilo, compared to last month. ROY DOMINGO
Amid pandemic, ’21 budget focuses on security By Cai U. Ordinario
D
@caiordinario
ESPITE the need to combat the pandemic and boost economic growth next year, a study by the Philippine Institute for Development Studies (PIDS) showed the President’s 2021 budget reflected different priorities, most notably peace and order and national defense. In a study titled, Analysis of the 2021 President’s Budget, PIDS Research Fellow Janet S. Cuenca said the budgets of the Department of the Interior and Local Government (DILG) and the Department of National Defense (DND) were larger than those intended for the Department of Health (DOH) and the Department of Social Welfare and Development (DSWD). The higher budget given to the DILG and DND was mainly driven by the National Task Force to End Local Communist Armed Conflict (NTF-Elcac), which received a budget of P1.08 billion or 0.57 percent of the total budget.
“Based on the detailed analysis done in this study, the 2021 proposed budget gives higher spending priority on maintenance of peace and order and national defense, which placed DILG and DND in higher spots compared to DOH and DSWD in the top 10 departments/recipients for FY 2021,” Cuenca said. “A close examination of various government documents [e.g., DBM 2020e] indicates that the proposed budget for National Task Force to End Local Communist Armed Conflict [NTF-Elcac] is part of the government’s recovery program to adapt to the post-pandemic life,” she added. Cuenca explained that the Philippine National Police (PNP) budget for 2021, which is under the DILG, will be higher by 3.21 percent or P6 billion in nominal terms. She said the PNP budget for its crime prevention and suppression program has the biggest share at 84.8 percent in 2020 and 86.8 percent in 2021. Apart from this, the PNP will also implement new programs. These new programs include the
“end local communist armed conflict” (Elcac) project which, Cuenca said, is the top priority with an allocation of almost P1.1 billion for 2021. Cuenca said Department of Budget and Management (DBM) data showed that the DILG budget for Elcac forms part of a much bigger budget, the NTF-Elcac, which is set to receive P19 billion next year. “The NTF-Elcac budget includes support to the Barangay Development Program [Local Government Support Fund] and Elcac budget of the Department of Agriculture, Department of Agrarian Reform, DSWD, and DILG,” Cuenca said. “NTF-Elcac is one of the recovery programs of the government that are meant to help the country adapt to the post-pandemic life.” In contrast, Cuenca said that while there will be a 39-percent increase to P127.3 billion in the DOH budget for 2021, most of the increase was provided for general administration. The DOH budget for operations was slashed by 26 percent to P1.8 billion in 2021.
The lower budget will lead to lower service delivery subprogram, which incurred the largest budget reduction of about P0.84 billion in 2021. Under this subprogram, the health facilities enhancement program (HFEP) will bear the brunt of the budget drop. Cuenca also noted that while the budget allocation for critical programs such as family health, immunization, nutrition, and responsible parenting will increase to P12.2 billion in 2021, this will not be enough to cover the needs for Covid-19 vaccines. “It is inadequate to cover for the cost [i.e., P2.5 billion] of Covid-19 vaccines that will be administered to priority target groups [e.g., medical frontliners in public hospitals, DOH, Bureau of Jail Management and Penology, Bureau of Corrections, DepED, DSWD, and uniformed personnel in Philippine National Police and Armed Forces of the Philippines, as well as indigent senior citizens],” Cuenca said. Continued on A2
www.businessmirror.com.ph
Companies BusinessMirror
Tuesday, December 29, 2020
B1
SEC voids CA of ‘unfair’ lending company
T
By VG Cabuag
@villygc
he Securities and Exchange Commission on Monday said it has revoked the certificate of authority (CA) of lending firm Super Cash Lending Corp. for its unfair debt collection practices. In an order, the SEC's Corporate Governance and Finance Department found the company, through
its online lending platforms Super Cash, Cash Porter and Loan Bee, to have threatened borrowers with
shaming on social media through the publication of their loan and personal details, as well as with estafa and theft charges. It found Super Cash liable for nine violations of its memorandum circular on the prohibition on unfair debt collection practices of financing and lending companies. Super Cash also threatened borrowers that they would be blacklisted with the National Bureau of Investigation, and used profane and abusive language to collect debts, the SEC said. “Worse, in one of the screen captures submitted by one of the com-
plainants, messages showing threats of inflicting grave physical harm upon the person of the complainant could be seen. These unfair collection practices are all too obnoxious to ignore,” it said. A third violation of the SEC's circular merits the imposition of either a monetary fine, suspension or revocation of the company’s CA, depending on the facts, circumstances, and gravity of the case. “The revocation of respondent’s CA is not merely appropriate, but rather necessitated by the gravity and number of its offenses,” the agency said.
Free toll for a month: SMC bares partial opening of Skyway 3 today By Lorenz S. Marasigan @lorenzmarasigan
S
an Miguel Corp. (SMC) said on Monday it is partially opening the 18-kilometer Skyway Stage 3 providing motorists with free toll for a month. Ramon S. Ang, the company’s president, said for the partial opening motorists will be able to use up to four lanes of Skyway 3. By January 14, he said SMC will
formally open all seven lanes of the entire 18-kilometer stretch from Buendia, Makati to the North Luzon Expressway (Nlex). “We are glad to finally welcome motorists, even on a limited capacity, starting December 29 [Tuesday]. While this is only a partial opening, given the scale and importance of this project, this is a very significant development,” Ang said. He noted that the group would have had the soft opening sooner, but
typhoons caused several disruptions in the work flow, especially in curing concrete and asphalt preparations. “We cannot rush the curing of concrete and preparation for asphalt because these have to be given enough time and have to be done according to the highest specifications to ensure quality and safety,” Ang said. Together with Skyway 1, 2, and Skyway extension which have a total of 20 kilometers, Skyway 3 extends the entire Skyway system
to 38 kilometers. With the completion next year of the Skyway Extension project at the southern end—from Susanna Heights to Alabang—the entire Skyway will have 36 access points on both sides, from end-to-end. Skyway 3 is expected to reduce travel time from Makati to Nlex to 20 minutes and Alabang to Nlex to only 30 minutes. It is also seen as an alternative road to major roads such as Edsa.
Nestlé PHL employees reach out to typhoon-ravaged communities
E
mployees of Nestlé Philippines recently held a voluntary fundraising initiative for the benefit of fishing communities across Albay, Catanduanes, and Camarines Sur, who have lost their homes and livelihoods in the aftermath of typhoons Rolly and Ulysses.
Out of their own resources, they raised almost P600,000, which was matched by the company, with the proceeds totaling P1,181,600 turned over to WWF–Philippines for Kabang Kalikasan ng Pilipinas Foundation Inc. The initiative dubbed as Kasam-
buhay sa Pagbangon was held under the auspices of Nestlé Cares, a global employee volunteer program which enables participants to make a difference by engaging with and assisting individuals and communities. As another component of the
initiative, Nestlé Philippines contributed products in two waves consisting of Milo, Bear Brand Fortified, and Nescafé to communities hit by the typhoons, including those in the Cagayan Valley region, Bulacan, Marikina City, Rizal, and the Bicol region.
SEC's memorandum circular on unfair collection practices took effect on September 8, 2019, as part of the agency's response to several complaints for unreasonable, abusive, and unfair practices that lending and financing companies used in order to collect debt from borrowers. “We respect the right of lending and financing companies to formulate and adopt certain strategies to effectively collect debts and secure their profitability,” SEC Commissioner Kelvin Lester K. Lee said. “However, harassment and other abusive or predatory practices will never be acceptable and tolerated.
As we pursue erring lending and financing companies, we also advise the public to be cautious and mindful of their transactions with entities representing themselves as such,” he said. Earlier this year, the SEC revoked the CA of FCash Global Lending Inc., which had one of the most number of complaints for collection harassment since 2017. It also ordered four online lending applications, namely CashAB, CashOcean, KwikPeso and Little Cash, to cease operations for lack of authority to operate as a lending or financing company aside from the abusive collection practices.
With 28-M users, PayMaya affirms support for digital finance goal of Central Bank
F
INANCIAL technology (fintech) player PayMaya has enabled 28 million users with digital finance tools that create a “more inclusive and accessible cashless ecosystem” in the Philippines. PayMaya President Shailesh Baidwan said the figure represents how PayMaya has been “leading” the way to a “cashless Philippines” in 2020 and beyond. “No other fintech company has built this inclusive ecosystem of products, services, and touchpoints that reach a vast majority of Filipinos nationwide. We have made it so easy for ordinary consumers to get a financial account and for merchants to accept a wide range of cashless payments, including PayMaya," he said. Baidwan added that PayMaya now has over 200,000 touch points nationwide, including a network of 33,000 agents that process transactions such as remittances, bills payments, mobile prepaid loading, and even QR payments. “This radical shift to cashless for
the Philippines will only continue accelerating in 2021 as we offer more services and forge more enterprise partnerships that are relevant for many consumers,” he said. PayMaya transactions have “consistently” surged thrice throughout 2020, better than the 25-percent improvement registered globally, based on research conducted by Google and Temasek. PayMaya enables Filipino consumers to send money, buy airtime credits, pay bills, and transact with merchants and governments, among others. It also enables both merchants and government institutions to bring their services closer to their customers in trough digital finance. Baidwan said his group’s efforts to promote fintech in the country support the goal of the Bangko Sentral ng Pilipinas to increase the share of digital payments to 50 percent of all retail transactions and expand financial inclusion to 70 percent of Filipino adults by 2023, as part of its recently released Digital Payments Transformation Roadmap 2020-2023. Lorenz S. Marasigan
B2
Companies BusinessMirror
Tuesday, December 29, 2020
PSE STOCK QUOTATIONS
December 28, 2020
Net Foreign Bid Ask Open High Low Close Volume Value Trade (Peso) Stocks Buy (Sell) FINANCIALs
ASIA UNITED BDO UNIBANK BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PB BANK PHIL NATL BANK PSBANK PHILTRUST RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FIRST ABACUS FERRONOUX HLDG IREMIT MEDCO HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH SUN LIFE VANTAGE
43.3 104.5 81.05 24.85 10.66 49.35 11.6 29.6 53.2 98 18.88 135.1 71.6 0.92 31 0.63 4.07 1.75 0.38 762 0.68 153.7 1,970 1.04
44.85 104.6 81.5 25 10.68 49.4 12 29.65 54.3 103.8 19 135.5 71.9 0.99 32 0.66 4.08 1.79 0.385 820 0.7 154.8 2,000 1.1
45 105 82.25 25.2 10.9 49.95 11.5 30 54 98 19.16 134.2 70.5 0.99 31 0.66 4.14 1.83 0.375 820 0.7 154.8 1,990 1.1
45 105.4 82.25 25.2 10.9 50 12 30 54.3 98 19.16 136.9 71.6 0.99 32 0.66 4.14 1.83 0.395 820 0.7 154.8 2,000 1.1
43 103.5 81 24.85 10.6 49.3 11.5 29.6 53.2 98 18.8 133.1 70.5 0.93 30 0.66 3.9 1.73 0.375 820 0.68 153.6 1,965 1.1
43.15 104.5 81.05 24.85 10.68 49.4 11.58 29.6 54.2 98 18.88 135.5 71.6 0.99 32 0.66 4.08 1.79 0.39 820 0.68 153.6 1,965 1.1
12,300 3,537,820 1,807,430 240,400 562,900 3,792,420 106,600 341,800 390 10 80,400 630,270 50,790 44,000 11,800 1,000 497,000 526,000 620,000 10 35,000 10,800 30 93,000
544,520 370,118,087 147,125,203 5,981,720 6,059,136 187,838,442 1,246,068 10,167,095 21,020 980 1,526,466 85,102,728 3,600,677 42,200 371,320 660 1,983,030 934,210 234,000 8,200 24,200 1,667,478 59,725 102,300
-21,845 -10,111,891 -6,019,474.00 3,722,590 -1,050,862 -43,996,056 -23,000 81,695 -28,860 -9,159,131.00 -199,560 -82,390 112,500 8,200 -461,066 9,825 -
INDUSTRIAL AC ENERGY 8.02 8.03 7.3 8.08 7.2 8.02 68,296,000 535,381,693 1.31 1.33 1.33 1.34 1.31 1.33 3,676,000 4,850,540 ALSONS CONS 26.5 26.6 26.75 26.75 26.2 26.6 1,690,300 44,723,940 ABOITIZ POWER 28.55 28.75 29 29 28.25 28.75 278,800 8,001,515 FIRST GEN FIRST PHIL HLDG 75.3 75.5 77.2 77.2 75.2 75.5 70,170 5,336,534 MERALCO 288.4 290 285 292 285 288.4 159,070 46,012,866 MANILA WATER 15.6 15.62 15.86 15.86 15.3 15.6 1,037,100 16,147,204 PETRON 3.99 4 4.01 4.03 3.98 4 6,034,000 24,129,310 3.42 3.56 3.54 3.54 3.4 3.4 36,000 123,080 PETROENERGY 12.02 12.4 12.1 12.42 12.02 12.02 44,200 536,090 PHX PETROLEUM 20.25 20.35 20.5 20.5 20.1 20.25 497,500 10,086,955 PILIPINAS SHELL SPC POWER 10 10.02 10.26 10.26 10 10 667,500 6,729,472 AGRINURTURE 7.89 8.1 8.16 8.16 7.8 8.1 426,500 3,377,194 AXELUM 3.39 3.49 3.45 3.49 3.38 3.49 1,408,000 4,826,560 CNTRL AZUCARERA 14.7 15.24 15.3 15.3 15.28 15.28 1,500 22,928 17.48 17.5 17.56 17.64 17.4 17.48 1,034,100 18,112,410 CENTURY FOOD 7.48 7.5 7.63 7.7 7.49 7.5 300,500 2,273,444 DEL MONTE 7.3 7.31 7.2 7.3 7.1 7.3 2,224,400 16,036,760 DNL INDUS EMPERADOR 9.84 9.99 10 10 9.83 9.99 10,029,800 100,122,593 SMC FOODANDBEV 68.45 68.5 69.85 69.85 68 68.5 143,770 9,821,600.50 ALLIANCE SELECT 0.68 0.7 0.7 0.71 0.67 0.67 1,593,000 1,083,250 1.72 1.73 1.68 1.75 1.65 1.73 26,172,000 44,705,640 FRUITAS HLDG 50.3 50.5 51 51 50.5 50.5 36,920 1,866,938.50 GINEBRA 193.3 193.4 196 196.3 192.7 193.3 597,460 115,622,655 JOLLIBEE 40 40.2 40.25 40.25 38.65 40 14,600 578,185 LIBERTY FLOUR 7.1 7.13 7.27 7.27 7.02 7.13 619,800 4,400,079 MAXS GROUP MG HLDG 0.227 0.228 0.25 0.25 0.227 0.228 28,880,000 6,706,000 SHAKEYS PIZZA 7.72 7.75 7.85 7.85 7.6 7.72 205,800 1,583,604 ROXAS AND CO 1.32 1.33 1.37 1.41 1.3 1.33 25,827,000 34,909,180 4.56 4.75 4.54 4.56 4.54 4.56 27,000 122,630 RFM CORP 1.64 1.69 1.73 1.73 1.63 1.64 353,000 588,700 ROXAS HLDG 0.124 0.125 0.13 0.13 0.124 0.124 1,730,000 215,340 SWIFT FOODS 149 149.5 151.4 151.5 148 149 1,390,040 206,930,644 UNIV ROBINA VITARICH 0.9 0.91 0.92 0.93 0.9 0.9 6,335,000 5,764,200 VICTORIAS 2.46 2.5 2.5 2.5 2.5 2.5 5,000 12,500 52.5 54.95 54.9 55 52.35 54.95 2,390 130,108.50 CONCRETE A 54.9 60 54.8 60.8 54.8 60.5 360 20,813 CONCRETE B 1.51 1.52 1.55 1.55 1.51 1.51 9,340,000 14,233,860 CEMEX HLDG 5.42 5.6 6 6 5.3 5.42 349,100 1,924,315 DAVINCI CAPITAL 14.48 14.5 14.5 14.78 14.5 14.5 63,300 918,384 EAGLE CEMENT EEI CORP 7.6 7.64 7.59 7.64 7.52 7.6 347,100 2,629,991 HOLCIM 7.35 7.36 7.54 7.54 7.28 7.35 3,126,900 22,964,078 MEGAWIDE 7.99 8 8.19 8.19 7.99 7.99 5,438,900 43,700,060 9.46 10 10 10 9.45 9.99 105,800 1,056,936 PHINMA 0.93 0.99 0.96 0.99 0.92 0.99 488,000 459,670 TKC METALS 1.2 1.21 1.27 1.27 1.2 1.21 3,336,000 4,057,860 VULCAN INDL 126.6 137.4 130 130 126.3 126.3 110 13,930 CHEMPHIL CROWN ASIA 1.82 1.83 1.86 1.86 1.83 1.83 202,000 373,080 EUROMED 2.38 2.39 2.54 2.54 2.35 2.39 1,124,000 2,716,060 MABUHAY VINYL 4.52 4.6 4.6 4.6 4.53 4.6 8,000 36,580 4.95 5 5.15 5.15 4.92 5 45,500 228,520 PRYCE CORP 22.65 22.7 23.35 23.35 22.65 22.7 25,200 572,350 CONCEPCION 2.54 2.56 2.54 2.57 2.53 2.56 5,837,000 14,892,760 GREENERGY 9.42 9.5 8.6 9.5 8.2 9.5 3,742,400 33,380,987 INTEGRATED MICR IONICS 1.21 1.22 1.28 1.28 1.2 1.22 1,711,000 2,113,220 PANASONIC 5.24 5.48 5.41 5.5 5.4 5.49 8,600 46,786 1.55 1.56 1.59 1.6 1.55 1.55 2,365,000 3,707,030 SFA SEMICON CIRTEK HLDG 6.62 6.65 6.89 6.89 6.61 6.62 6,451,800 43,155,090
11,949,102 -52,600 -12,113,185 -3,893,985 -4,588,393.50 7,343,124 3,354,556 -2,023,840 -152,620 -74,870 149,518 17,130 -4,938,594 20,601 11,819,963 -2,723,118 -112,325.50 -1,866,090 265,125 -15,100,552 19,425 249,523 -1,643,380 370,611 -279,260 34,230 61,100,544 172,460 18,260 56,195 31,650 8,620,946 1,483,050 72,600 -3,700 2,380 -15,450 68,100 -1,792,520 495,570 -41,840 28,160 -3,269,484
HOLDING & FRIMS ABACORE CAPITAL 0.65 0.66 0.68 0.69 0.65 0.65 32,984,000 21,789,570 10 10.38 10.38 10.66 10 10.38 81,500 822,488 ASIABEST GROUP 813 817.5 829 830 813 813 211,040 173,192,670 AYALA CORP 46.05 46.8 46.5 46.8 45.8 46.8 477,800 22,263,085 ABOITIZ EQUITY ALLIANCE GLOBAL 10.8 10.84 10.76 10.86 10.52 10.8 5,841,700 62,467,218 AYALA LAND LOG 3.34 3.35 3.47 3.47 3.31 3.35 5,237,000 17,716,440 ANSCOR 6.55 6.65 6.65 6.7 6.65 6.7 4,000 26,745 0.77 0.79 0.77 0.81 0.76 0.81 338,000 265,920 ANGLO PHIL HLDG 0.87 0.88 0.9 0.92 0.88 0.88 5,812,000 5,181,790 ATN HLDG A 0.88 0.89 0.9 0.9 0.89 0.89 220,000 196,600 ATN HLDG B 5.69 5.7 5.72 5.72 5.63 5.69 974,400 5,518,654 COSCO CAPITAL DMCI HLDG 5.74 5.75 5.8 5.8 5.6 5.74 5,158,100 29,374,029 FILINVEST DEV 9.61 9.7 9.7 9.7 9.41 9.7 13,200 127,360 FORUM PACIFIC 0.205 0.229 0.205 0.205 0.201 0.205 440,000 89,120 581 582 586 586 578.5 581 176,250 102,546,775 GT CAPITAL 4.02 4.09 4.13 4.13 4.02 4.02 114,000 462,140 HOUSE OF INV 71.05 71.95 71.2 72 69.5 71.05 462,400 32,887,194.50 JG SUMMIT 5.2 5.88 5.36 6 5.36 5.9 51,600 286,314 JOLLIVILLE HLDG KEPPEL HLDG A 5 5.18 5.27 5.27 5.27 5.27 100 527 0.82 0.83 0.83 0.87 0.81 0.82 1,825,000 1,509,680 LODESTAR 3.72 3.73 3.71 3.73 3.71 3.72 646,000 2,403,190 LOPEZ HLDG LT GROUP 12.98 13.1 13.02 13.04 12.8 12.98 1,177,400 15,235,196 0.52 0.53 0.53 0.54 0.52 0.54 114,000 59,780 MABUHAY HLDG 4.27 4.28 4.15 4.28 4.15 4.27 16,886,000 71,218,420 METRO PAC INV 3.4 3.43 3.52 3.52 3.4 3.4 246,000 851,030 PACIFICA HLDG PRIME MEDIA 0.9 0.92 0.92 0.92 0.9 0.9 324,000 293,890 SOLID GROUP 1.13 1.16 1.2 1.2 1.12 1.13 140,000 161,300 236 242 239 242 235 242 690 164,250 SYNERGY GRID SM INVESTMENTS 1,050 1,055 1,065 1,068 1,050 1,050 217,125 228,900,590 126.5 129 130 130 122.2 129 325,630 41,179,451 SAN MIGUEL CORP 0.73 0.76 0.78 0.78 0.73 0.76 424,000 323,720 SOC RESOURCES 138 143 142 142 135 140 6,220 867,800 TOP FRONTIER 0.183 0.185 0.182 0.183 0.176 0.183 2,200,000 392,310 ZEUS HLDG
243,510 57,128 -80,169,830 -2,314,120 16,816,128 411,160 -532,769 -2,603,535 3,764 -6,528,695 -69,260 -5,211,656.50 -115,320 -6,377,894 6,846,320 13,640 19,110 -47,800 -115,116,130 -479,587 35,200
PROPERTY ARTHALAND CORP 0.62 0.63 0.66 0.66 0.63 0.63 1,971,000 1,247,840 8.2 8.89 8.2 8.2 8.2 8.2 9,800 80,360 ANCHOR LAND 41.6 41.75 41.2 41.75 41.05 41.75 4,895,800 203,481,695 AYALA LAND 1.21 1.25 1.21 1.22 1.21 1.22 146,000 177,410 ARANETA PROP AREIT RT 29.05 29.25 29.1 29.25 28.45 29.25 2,755,700 79,775,865 BELLE CORP 1.69 1.7 1.74 1.74 1.66 1.7 537,000 903,760 A BROWN 0.91 0.92 0.92 0.93 0.9 0.91 5,015,000 4,566,990 CITYLAND DEVT 0.78 0.81 0.82 0.82 0.78 0.81 121,000 94,920 0.15 0.152 0.153 0.153 0.15 0.15 4,890,000 739,490 CROWN EQUITIES 5.73 6 5.7 6 5.7 6 116,400 668,345 CEBU HLDG 4.97 5.01 4.97 5.08 4.96 5.01 825,000 4,114,702 CEB LANDMASTERS CENTURY PROP 0.455 0.46 0.465 0.47 0.455 0.46 12,310,000 5,702,200 CYBER BAY 0.34 0.345 0.36 0.36 0.34 0.34 11,910,000 4,157,400 14.8 14.84 15.38 15.38 14.8 14.8 5,700,300 85,738,954 DOUBLEDRAGON DM WENCESLAO 7.5 7.68 7.6 7.7 7.34 7.68 353,100 2,640,385 0.315 0.32 0.33 0.33 0.315 0.315 2,500,000 798,400 EMPIRE EAST 0.086 0.087 0.089 0.089 0.085 0.087 1,030,000 89,780 EVER GOTESCO 1.11 1.12 1.11 1.13 1.1 1.11 20,356,000 22,705,210 FILINVEST LAND GLOBAL ESTATE 0.93 0.94 0.93 0.94 0.93 0.94 310,000 288,500 8.05 8.24 8.05 8.3 8.02 8.24 113,700 914,972 8990 HLDG 1.37 1.38 1.41 1.44 1.37 1.37 9,511,000 13,321,700 PHIL INFRADEV KEPPEL PROP 3.38 3.49 3.39 3.39 3.38 3.38 11,000 37,230 0.72 0.74 0.74 0.76 0.71 0.74 207,000 150,390 CITY AND LAND 3.96 3.97 3.95 3.98 3.89 3.96 11,860,000 46,721,840 MEGAWORLD 0.56 0.57 0.59 0.6 0.56 0.57 164,995,000 96,256,650 MRC ALLIED PHIL ESTATES 0.385 0.41 0.41 0.41 0.41 0.41 10,000 4,100 1.45 1.49 1.58 1.58 1.46 1.46 780,000 1,155,160 PRIMEX CORP 20.75 20.8 20.5 20.75 20.2 20.75 6,400,600 131,865,640 ROBINSONS LAND PHIL REALTY 0.31 0.32 0.31 0.32 0.305 0.32 430,000 134,250 1.54 1.57 1.54 1.54 1.52 1.54 341,000 522,900 ROCKWELL 2.64 2.71 2.72 2.72 2.65 2.71 691,000 1,834,550 SHANG PROP 1.97 2 1.99 2.09 1.94 1.97 895,000 1,776,390 STA LUCIA LAND 38.55 38.6 38.2 38.9 37.4 38.6 5,404,000 208,088,745 SM PRIME HLDG VISTAMALLS 4.3 4.44 4.53 4.53 4.3 4.3 167,000 734,950 1.66 1.67 1.68 1.72 1.65 1.66 2,649,000 4,423,280 SUNTRUST HOME VISTA LAND 4.57 4.58 4.64 4.65 4.53 4.57 6,103,000 27,983,930
16,510 80,360 79,689,815 -53,355,915 -15,280 221,800 -535,870.00 32,200 -5,443,240 51,050 -40,260 605,750 590 3,800,840 -3,345,270 7,223,205 1,221,990 37,800 -14,903,890 139,000 1,303,900
SERVICES ABS CBN 11.68 11.74 12 12 11.7 11.74 425,700 5,030,754 5.91 5.92 6 6 5.91 5.92 600,400 3,567,163 GMA NETWORK 0.445 0.465 0.45 0.45 0.44 0.445 700,000 313,500 MANILA BULLETIN 11.02 11.8 10.74 11.5 10.74 11.5 1,700 18,446 MLA BRDCASTING GLOBE TELECOM 2,032 2,034 2,022 2,032 2,012 2,032 18,315 37,084,090 PLDT 1,338 1,340 1,350 1,350 1,325 1,340 72,150 96,672,035 APOLLO GLOBAL 0.125 0.127 0.104 0.138 0.103 0.125 4,080,690,000 498,453,320 CONVERGE 15.16 15.2 15.28 15.28 15.08 15.2 1,602,400 24,218,720 5.05 5.14 4.9 5.2 4.9 5.05 75,600 379,736 DFNN INC 9.81 9.82 8.7 9.89 8.7 9.81 148,160,900 1,377,708,564 DITO CME HLDG 1.6 1.79 1.85 1.85 1.6 1.82 173,000 289,970 IMPERIAL ISLAND INFO 0.121 0.126 0.127 0.127 0.12 0.121 5,310,000 650,610 JACKSTONES 2.05 2.19 2.23 2.23 2.1 2.19 19,000 41,150 4.64 4.65 4.73 4.79 4.65 4.65 14,335,000 67,538,060 NOW CORP TRANSPACIFIC BR 0.35 0.355 0.355 0.36 0.35 0.355 23,970,000 8,476,450 2.9 2.93 2.96 2.99 2.9 2.9 3,743,000 10,898,930 PHILWEB 8.5 8.6 8.69 8.8 8.3 8.5 151,300 1,275,555 2GO GROUP 5.24 5.25 5 5.36 5 5.25 8,334,200 43,433,136 CHELSEA CEBU AIR 50.7 50.75 50 51 49 50.7 1,521,800 76,393,784 INTL CONTAINER 121.9 122 122.1 124.8 120.1 122 489,520 59,934,143 LBC EXPRESS 15.58 16.14 15.62 15.62 15.58 15.58 4,200 65,464 0.97 0.98 1 1 1 1 11,000 11,000 LORENZO SHIPPNG 6.66 6.67 6.8 6.96 6.67 6.67 9,582,700 65,308,873 MACROASIA 1.93 1.95 2 2 1.9 1.95 536,000 1,037,960 METROALLIANCE A 1.94 2 2.05 2.05 1.94 1.94 38,000 75,510 METROALLIANCE B PAL HLDG 6.7 6.71 6.92 6.92 6.7 6.7 100,300 677,976 HARBOR STAR 1.5 1.51 1.5 1.53 1.46 1.5 3,049,000 4,562,160 ACESITE HOTEL 1.44 1.49 1.44 1.49 1.44 1.44 4,000 5,810 0.038 0.039 0.04 0.04 0.038 0.038 111,600,000 4,357,300 BOULEVARD HLDG 2.1 2.34 2.34 2.35 2.34 2.35 14,000 32,880 DISCOVERY WORLD 0.59 0.6 0.61 0.61 0.59 0.6 8,138,000 4,872,160 WATERFRONT 580.5 634 576 576 576 576 50 28,800 FAR EASTERN U 9 9.79 9.25 9.25 9 9 48,400 435,885 IPEOPLE STI HLDG 0.47 0.475 0.485 0.485 0.465 0.475 2,140,000 1,010,900 5.78 5.79 5.27 5.78 5.15 5.78 3,369,100 18,648,871 BERJAYA BLOOMBERRY 8.1 8.3 8.3 8.32 8 8.3 2,248,300 18,331,972 2.07 2.08 2.17 2.17 2.05 2.08 237,000 498,930 PACIFIC ONLINE 1.9 1.91 1.94 1.95 1.87 1.9 1,751,000 3,335,040 LEISURE AND RES 2.31 2.35 2.35 2.35 2.3 2.32 85,000 198,260 MANILA JOCKEY 2.67 2.7 2.9 2.93 2.67 2.67 24,025,000 67,495,460 PH RESORTS GRP PREMIUM LEISURE 0.455 0.46 0.455 0.46 0.445 0.46 18,610,000 8,409,600 PHIL RACING 6.7 6.99 6.71 6.99 6.71 6.99 2,100 14,119 8.74 8.75 8.78 8.78 8.62 8.74 1,655,700 14,455,265 ALLHOME 1.51 1.52 1.6 1.6 1.52 1.52 3,715,000 5,715,960 METRO RETAIL 41.45 41.5 40.85 41.5 40.4 41.5 2,763,400 113,464,290 PUREGOLD 65.7 66 65.5 66.5 65.05 66 298,700 19,690,239.50 ROBINSONS RTL 116.1 118 118 118 116.1 118 9,300 1,095,791 PHIL SEVEN CORP SSI GROUP 1.53 1.54 1.55 1.58 1.5 1.53 9,537,000 14,652,240 WILCON DEPOT 16.98 17.1 17.5 17.5 16.82 16.98 1,070,300 18,223,492 APC GROUP 0.42 0.425 0.45 0.45 0.415 0.42 10,360,000 4,397,400 EASYCALL 7.29 7.44 7.5 7.55 7.29 7.29 115,500 855,991 437.8 455 440 455 437.2 455 2,740 1,231,332 GOLDEN BRIA 5.8 5.9 4.5 5.8 4.5 5.8 49,200 269,177 IPM HLDG 2.3 2.35 2.35 2.35 2.35 2.35 1,000 2,350 PAXYS PRMIERE HORIZON 1 1.01 1.03 1.04 0.99 1 86,639,000 87,094,150 SBS PHIL CORP 5.4 5.5 6 6 5.5 5.5 40,200 227,854
-8,667,780 4,731,305 15,271,440 -477,444 9,820 49,955,632 47,320 83,690 737,850 596,400 26,580 -283,892.00 -283,185 738,422.50 -20,205,201 1,871,979 34,600 -71,530 -1,120 -28,850.00 -1,449,424 340,400 429,200 -116,300 9,225,317 -904,210 -23,671,965 -2,141,569.50 512,933 -137,750 -12,931,290 43,000 11,250 -227,500 -795,550 -
MINING & OIL ATOK 7.92 8 8.4 8.4 7.92 8 457,200 3,670,186 -16,115 1.74 1.76 1.74 1.78 1.71 1.74 5,236,000 9,153,470 -248,060 APEX MINING 0.0035 0.0036 0.0031 0.0036 0.003 0.0035 54,677,000,000 175,985,100 1,386,600 ABRA MINING ATLAS MINING 6.4 6.46 6.28 6.47 6.28 6.4 420,100 2,671,317 -190,272 BENGUET A 3.04 3.1 3.04 3.1 3.04 3.1 54,000 165,640 3 3.1 3.01 3.01 3 3 19,000 57,150 BENGUET B 0.275 0.285 0.28 0.3 0.28 0.28 4,930,000 1,407,850 222,300.00 COAL ASIA HLDG 2.67 2.7 2.65 2.69 2.57 2.69 3,035,000 8,010,000 3,408,380 CENTURY PEAK 8.03 8.29 8.29 8.29 8.29 8.29 300 2,487 DIZON MINES 2.59 2.6 2.52 2.7 2.52 2.6 10,823,000 28,239,890 -340,680 FERRONICKEL GEOGRACE 0.28 0.29 0.29 0.3 0.28 0.29 2,540,000 736,200 0.159 0.16 0.16 0.16 0.155 0.159 45,720,000 7,206,090 LEPANTO A 0.156 0.163 0.156 0.157 0.156 0.156 720,000 112,370 -7,800 LEPANTO B MANILA MINING A 0.01 0.011 0.01 0.01 0.0099 0.01 56,200,000 561,900 0.011 0.012 0.01 0.012 0.01 0.012 47,300,000 505,200 MANILA MINING B 1.44 1.47 1.45 1.48 1.37 1.47 4,547,000 6,557,000 168,990 MARCVENTURES 3.01 3.04 3.01 3.07 3 3.01 785,000 2,369,360 15,050.00 NIHAO NICKEL ASIA 5.18 5.19 5.14 5.24 5.12 5.18 13,668,700 70,949,048 6,479,448 OMICO CORP 0.375 0.39 0.39 0.39 0.375 0.375 720,000 270,700 0.78 0.8 0.79 0.81 0.76 0.8 1,012,000 792,280 322,210 ORNTL PENINSULA PX MINING 5.07 5.08 5.13 5.13 4.97 5.07 2,651,100 13,386,525 568,543 13.86 13.88 14.16 14.16 13.7 13.86 4,312,600 59,868,212 7,762,344 SEMIRARA MINING 0.0058 0.0066 0.006 0.0061 0.0058 0.0058 55,000,000 325,400 59,000 UNITED PARAGON 11 11.1 11.4 11.4 10.6 11 248,900 2,702,906 ACE ENEXOR ORNTL PETROL A 0.012 0.013 0.012 0.013 0.012 0.012 269,800,000 3,247,600 0.012 0.013 0.013 0.013 0.012 0.012 22,900,000 292,200 158,600 ORNTL PETROL B PHILODRILL 0.011 0.012 0.011 0.011 0.011 0.011 49,000,000 539,000 11.06 11.1 11.38 11.38 10.82 11.1 2,124,200 23,377,506 -967,606 PXP ENERGY PREFFERED HOUSE PREF A 100.2 102 100.1 100.1 100.1 100.1 200 20,020 498 515 511 511 495 495 23,000 11,416,520 24,950 AC PREF B2R 102 102.8 102 102.8 102 102.8 3,210 328,084 CPG PREF A 101.5 102.6 101 102.6 101 102.6 530 54,188 DD PREF FGEN PREF G 108.2 112.5 112.9 112.9 112.9 112.9 320 36,128 424 517.5 517.5 517.5 517.5 517.5 30 15,525 FPH PREF C 517 518.5 509 517 509 517 8,800 4,549,520 GLO PREF P 1,018 1,046 999 1,018 999 1,018 605 615,700 GTCAP PREF A 1,029 1,030 1,000 1,000 1,000 1,000 10 10,000 GTCAP PREF B 100.4 101.5 100.4 101.5 100.4 101.5 400 40,270 MWIDE PREF 100 100.1 100 100 100 100 4,300 430,000 MWIDE PREF 2A MWIDE PREF 2B 99.7 99.8 99.8 99.8 99.7 99.8 7,310 728,888 102.2 103.6 102.5 103.6 102 103.6 3,510 362,460 PNX PREF 3B 1,000 1,007 1,006 1,008 1,000 1,000 1,210 1,210,720 PNX PREF 4 1,020 1,029 1,029 1,030 1,027 1,029 190 195,540 PCOR PREF 2B 1,060 1,070 1,060 1,070 1,060 1,060 105 111,350 PCOR PREF 3A 1,080 1,100 1,080 1,080 1,080 1,080 1,730 1,868,400 PCOR PREF 3B 1.61 1.7 1.61 1.61 1.61 1.61 11,000 17,710 -16,100 SFI PREF SMC PREF 2C 78 78.2 78.5 78.5 77.9 78 2,520 196,707 10,205 SMC PREF 2F 77.5 78 77.5 77.5 77.5 77.5 737,300 57,140,750 75.4 76 75.8 76 75.8 76 3,800 288,600 SMC PREF 2G 75.65 77 75.65 75.65 75.65 75.65 1,007,870 76,245,365.50 SMC PREF 2H 76.85 78.85 76.8 76.8 76.8 76.8 700,080 53,766,144 SMC PREF 2I 75 76 76 76 75.4 75.4 683,620 51,614,275 SMC PREF 2J 75.3 75.9 75.1 76 75.1 75.3 3,190 240,962 SMC PREF 2K PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 11.98 12 11.98 12 11.98 11.98 33,500 401,770 5.8 5.85 5.73 5.86 5.73 5.86 151,800 887,842 GMA HLDG PDR WARRANTS LR WARRANT 1.02 1.05 1.11 1.11 1.01 1.02 319,000 332,410 4,080 SMALL & MEDIUM ENTERPRISES ALTUS PROP 12.7 12.72 13.62 13.62 12.5 12.7 910,100 11,607,674 -2,528,010 3.02 3.03 3.02 3.07 3.01 3.02 3,063,000 9,300,090 -914,860 ITALPINAS 6.4 6.5 6.6 6.6 6.5 6.5 124,200 810,211 KEPWEALTH 2.51 2.69 2.65 2.7 2.65 2.7 10,000 26,950 MAKATI FINANCE MERRYMART 5.9 5.91 5.9 5.99 5.85 5.91 30,688,400 181,770,528 2,178,426 EXHANGE TRADE FUNDS FIRST METRO ETF 107 107.3 108 108 106 107.3 35,340 3,789,500 67,672
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Fruitas widens scope of acquisition targets F By VG Cabuag
@villygc
ruitas Holdings Inc., an operator of food and beverage kiosks, on Monday said it has widened its scope of its potential acquisitions, which is no longer limited to food service. The company’s board also approved to remove the restriction of using the proceeds of its initial public offering allocated to acquisitions solely on food service targets. The company said in its disclosure that it would also evaluate its fund-raising options to include notes, bonds and preferred shares, so it can further seek longer-term growth capital. “We were able to build our community stores even during the quar-
antine and achieve our target within four months. We were also able to quickly adapt and widen our product range for such format. This is a testament to the nimbleness and depth of our organization. We believe that we are in stronger footing now with our community stores and delivery service which is accessible through phone, dedicated web site and social media. We also continue to seek ways to add new revenue and profit streams,” Lester Yu, company
president and CEO, said. Fruitas opened Soy and Bean in Suki Market at Mayon Street, Quezon City over the weekend, its 30th store. On December 23, it also opened the same brand in President’s Avenue, BF Homes, Parañaque. Babot’s Farm and Soy and Bean stores offer the same breadth of products from the Fruitas Group, including fresh fruit juices, soy-based products, Fruitas and Soy and Bean ice cream, frozen Jamaican Patties and Shou Chinese delicacies, and selected partners. Babot’s Farm carry fresh fruit juices as its anchor product while Soy and Bean carry soy-based items as its anchor product. These stores, which still have a small footprint and are strategically located to serve dense residential communities, are already having a significant positive impact on profits. Fruitas targets to expand its community store network to 100 by 2021.
“The foodservice and retail sectors are evolving quickly and we need to also adapt our acquisition criteria. However, we continue to focus on our customers and seek ways to further facilitate customers’ access to Fruitas and deepen our relationship with them. We will build on our strengths of operating a nationwide network of small footprint stores, and providing healthy and minimally processed products which provide happiness. We reiterate our vision to be ubiquitous in Filipinos’ daily lives,” Yu said. “The completion of the IPO late last year introduced us to public investors and the additional equity capital also provided us additional debt capacity. Having the ability to tap the capital markets is important at this time while interest rates remain low and there are a lot of opportunities to generate returns for our shareholders,” Calvin Chua, the company’s chief financial adviser, said.
Meralco Bayad Center to accept GSIS loan payments starting January 22, ’21 By Bernadette D. Nicolas @BNicolasBM
M
embers of the staterun Government Service Insurance System (GSIS) nationwide would be able to pay their loans via Meralco Bayad Centers starting January 22 next year. In a news statement issued on Monday, GSIS said it has partnered with Meralco Bayad Center to accept loan payments from GSIS members across the country in a bid to provide an accessible payment system amid the pandemic. GSIS President and General Manager Rolando L. Macasaet and CIS Bayad Center Inc. President and CEO Lawrence Y. Ferrer signed the agreement in a virtual ceremony on December 21. “Starting January 22, 2021, GSIS members will be able to pay their GSIS loans at the Bayad Center nearest their home. Hindi na kailangang pumunta sa GSIS branch just to settle loan obligations," Macasaet said. “This is part of our continuing efforts to make our services fast and convenient. Hangad namin sa GSIS na makapag-hatid at makapagdulot ng ginhawa sa lahat ng aming miyembro at pensyonado.” Macasaet said GSIS selected Meralco Center for being pioneer, market leader, and an established brand with over 20 years of experience in bills payment collection in the country. It has over 40,000 outlets or touchpoints a l l over the country. For the part of Bayad Center, Ferrer assured GSIS members that their hard-ear ned payments will reach the right hands. “Saludo kami sa mga kawani ng gobyerno for their hard work that’s why we are here now. We are happy to extend this payment solution to GSIS. It’s a good gift that you can give to your members,” Ferrer said. GSIS members who may avail of the Bayad Center facility are those who will pay their loan
amortization in advance; have underpaid accounts; have delayed payment; or with accounts which are already in default (unpaid for more than six months). Aside from the Bayad Center facility, the other modes of payment available to GSIS members are through agency remittance and payment over-the-counter at any of the GSIS branch offices. The GSIS loan accounts that may be paid through Bayad Center are Enhanced Salary Loan; Emergency Loan Assistance; Su mmer One Mont h Sa l a r y Loan; eCard Cash Advance; Enhanced Consoloan; emergency loan; Home Emergency Loan Program; Study Now, Pay Later Loan; Fly PAL, Pay Later Loan; Educational Assistance Loan (EAL); Stock Purchase Loan; Regular Policy Loan; Optional Policy Loan; GSIS Financial Assistance Loans; Program for Restructuring and Repayment of Debts; Multi-Purpose Loans (MPL) and other upcoming GSIS loans. GSIS members have to present SMS notification received from GSIS or loan balances displayed through eGSISMO and proceed to the nearest Bayad Center and fill out a transaction slip with their full name, business partner (BP) number, loan type, payment amount, and mobile number. The slip, which will be validated by Bayad Center, will serve as proof of payment. Payments of GSIS members accepted at Bayad Center will be remitted to GSIS in real time. Payors will receive payment confirmation through SMS within twenty four (24) hours from receipt of the payment made. Members may get their BP number from their agency authorized officers designated by their human resource department or from the GSIS Contact Center at 8847-4747 if in Metro Manila or 1-800-8-847-4747 (for Globe and TM subscribers) or 1-800-10-847-4747 (for Smart, Sun, and Talk ’N Text subscribers).
mutual funds
December 28, 2020
NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 229.24 -9.41% -7.65% -1.53% -8.97% ATRAM Alpha Opportunity Fund, Inc. -a 1.3256 -3.83% -6.11% 2.76% -4.08% ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.1693 -14.24% -11.39% -2.88% -13.84% Climbs Share Capital Equity Investment Fund Corp. -a 0.8117 -10.1% -7.08% n.a. -9.61% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.7516 -11.9% n.a. n.a. -11.5% First Metro Save and Learn Equity Fund,Inc. -a 4.9894 -6.65% -5.76% -1.13% -6.36% First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.7682 -10.33% -7.96% n.a. -10% MBG Equity Investment Fund, Inc. -a 101.05 -2.28% n.a. n.a. -2.1% PAMI Equity Index Fund, Inc. -a 47.2795 -8.15% -5.39% 0.11% -7.8% Philam Strategic Growth Fund, Inc. -a 493.27 -7.8% -5.41% -0.58% -7.42% Philequity Alpha One Fund, Inc. -a,d, 1.0887 6.08% n.a. n.a. 5.69% Philequity Dividend Yield Fund, Inc. -a 1.1753 -9.03% -5.5% -0.05% -8.67% Philequity Fund, Inc. -a 34.9672 -8.1% -4.99% 0.58% -7.73% Philequity MSCI Philippine Index Fund, Inc. -a 0.9189 -10.07% n.a. n.a. -9.74% Philequity PSE Index Fund Inc. -a 4.8365 -7.75% -4.94% 0.83% -7.41% Philippine Stock Index Fund Corp. -a 808.99 -7.55% -4.83% 0.71% -7.22% Soldivo Strategic Growth Fund, Inc. -a 0.7289 -14.73% -8.72% -3.27% -14.39% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.6623 -13.41% -6.95% -0.99% -12.99% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.9263 -7.78% -5.13% 0.61% -7.44% United Fund, Inc. -a 3.348 -8.8% -4.39% 1.17% -8.35% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 108.5384 -7.5% -4.59% 1.46% -7.2% Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b $1.1748 14.78% 2.6% 5.78% 14.24% Sun Life Prosperity World Voyager Fund, Inc. -a $1.6674 21.61% 9.79% n.a. 20.94% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.6707 6.62% -3.36% -0.87% 6.9% ATRAM Philippine Balanced Fund, Inc. -a 2.2961 5.01% -2.04% 1.44% 5.27% First Metro Save and Learn Balanced Fund Inc. -a 2.6427 0.24% -1.36% -0.33% 0.43% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1998 -13.24% n.a. n.a. -12.56% NCM Mutual Fund of the Phils., Inc. -a 1.9728 0.49% -0.04% 1.95% 0.57% PAMI Horizon Fund, Inc. -a 3.8077 0.25% -0.65% 1.38% 0.49% Philam Fund, Inc. -a 17.0206 0.11% -0.76% 1.27% 0.35% -1.93% 0.97% -0.76% Solidaritas Fund, Inc. -a 2.106 -1.35% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.5951 -7.21% -3.3% 0.03% -6.95% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 1.0264 0.82% n.a. n.a. 1.05% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.9569 -4.19% n.a. n.a. -3.96% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.941 -5.49% n.a. n.a. -5.26% Sun Life Prosperity Dynamic Fund, Inc. -a 0.8959 -8.46% -3.98% -0.72% -8.09% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. - $0.03915 2.57% 2.75% 2.05% 2.49% 5.18% PAMI Asia Balanced Fund, Inc. -b $1.1348 9.9% 2.66% 12.13% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.4976 15.49% 7.31% 7.8% 15.01% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.1991 6.61% 3.5% n.a. 6.24% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 371.23 3.74% 3.29% 2.87% 3.71% ATRAM Corporate Bond Fund, Inc. -a 1.8997 -0.09% -0.05% 0.04% -0.12% Cocolife Fixed Income Fund, Inc. -a 3.2131 3.18% 4.47% 4.81% 3.05% Ekklesia Mutual Fund Inc. -a 2.297 3.3% 3% 2.6% 3.31% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.452 3.95% 3.46% 2.19% 3.94% Philam Bond Fund, Inc. -a 4.6351 6.01% 3.3% 6% 4.69% Philam Managed Income Fund, Inc. -a,6 1.3204 5.1% 4.49% 2.65% 5.07% Philequity Peso Bond Fund, Inc. -a 3.9917 5.69% 4.49% 3.11% 5.37% Soldivo Bond Fund, Inc. -a 1.0403 7.93% 4.17% 2.64% 7.88% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.2013 4.11% 4.84% 3.81% 4.09% Sun Life Prosperity GS Fund, Inc. -a 1.7523 3.01% 4.2% 3.16% 3.01% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $483.7 3.35% 2.78% 2.96% 3.28% ALFM Euro Bond Fund, Inc. -a Є219.2 -0.23% 0.85% 1.24% -0.27% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2797 6.08% 4.09% 3.19% 6.01% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0266 3.1% 2.09% 1.83% 3.1% PAMI Global Bond Fund, Inc -b $1.0929 -0.01% 0.77% 0.73% -0.06% Philam Dollar Bond Fund, Inc. -a $2.5345 5.52% 4.08% 3.71% 5.45% Philequity Dollar Income Fund Inc. -a $0.0623835 3.37% 2.8% 2.39% 3.46% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.2254 1.69% 2.35% 2.61% 1.58% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 129.77 3.18% 3.35% 2.59% 3.13% First Metro Save and Learn Money Market Fund, Inc. -a 1.0478 1.74% n.a. n.a. 2.09% Sun Life Prosperity Money Market Fund, Inc. -a 1.2962 2.54% 2.98% 2.61% 2.47% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0522 1.46% 1.75% n.a. 1.34% Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 1.1112 n.a. n.a. n.a. n.a. Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $0.98 -1.01% n.a. n.a. -1.01% a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. d - in Net Asset Value per Unit (NAVPU). 1 - Launch date is September 28, 2019. 2 - Launch date is November 15, 2019. 3 - Adjusted due to stock dividend issuance last October 9, 2019. 4 - Renaming was approved by the SEC last October 12, 2018 (formerly, One Wealthy Nation Fund, Inc.). 5 - Launch date is December 09, 2019. 6 - Re-classified into a Bond Fund starting February 21, 2020 (Formerly a Money Market Fund). 7 - Launch date is July 6, 2020. "While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www. pifa.com.ph to see the latest NAVPS/NAVPU."
www.businessmirror.com.ph • Editor: Angel R. Calso
The World BusinessMirror
Tuesday, December 29, 2020
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South Africa on verge of new Covid rules as infections exceed 1 million
J A view of an empty Regent Street, during what would normally be the Boxing Day sales. Boxing Day spending is expected to fall by more than a quarter compared with a year ago, after extensive new Covid-19 restrictions forced nonessential retailers to close, in London on December 26, 2020. Stefan Rousseau/PA via AP
AstraZeneca: Shot will be effective against new coronavirus variant
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O N D O N —T h e h e a d o f drugmaker AstraZeneca, which is developing a coronavirus vaccine widely expected to be approved by UK authorities this week, said Sunday that researchers believe the shot will be effective against a new variant of the virus driving a rapid surge in infections in Britain. AstraZeneca chief executive Pascal Soriot also told the Sunday Times that researchers developing its vaccine have figured out a “winning formula” making the jab as effective as rival candidates. Some have ra ised concer n that the AstraZeneca vaccine, which is being developed with O x ford Un ive rsit y, m ay not be as good as the one made by Pfizer already being distributed in the UK and other countries. Partial results suggest that the AstraZeneca shot is about 70 percenteffective for preventing illness from coronavirus infection, compared to the 95 percentefficacy reported by Pfizer and its German partner BioNTech. “We think we have figured out the winning formula and how to get efficacy that, after two doses, is up there with ever ybody else,” Soriot said. “I can’t tell you more because we will publish at some point.” Britain’s government says its medicines regulator is reviewing the final data from AstraZeneca’s phase three clinical trials. The Times and others have reported that the green light could come by Thursday, and the vaccines can start to be rolled out for the UK public in the first week of January. A sked about t he vacc ine’s efficacy against the new variant of coronavirus spreading in the UK, Soriot said: “So far, we think the vaccine should remain effective. But we can’t be sure,
so we’re going to test that.” British authorities have blamed the new virus variant for soaring infection rates across the country. They said the variant is much more transmittable, but stress there is no evidence it makes people more ill. Prime Minister Boris Johnson sounded an urgent alarm about the variant days before Christmas, saying the new version of the virus was spreading rapidly and that plans to travel and gather must be canceled for millions to curb the spread of the virus. Authorities have since put increasing areas of the country—affecting about 24 million people, or 43 percentof the population—in the strictest level of restrictions. Nonessential shops have closed, restaurants and pubs can only operate for takeout and no indoor socializing is allowed. Many countries swiftly barred travel from the UK, but cases of the new variant have since also been reported in a dozen locations around the world. Public health officials said on December 24 that more than 600,000 people had received the first of two doses of the Pfizer vaccine. B r it a i n re c ord e d a not he r 30,501 positive Covid-19 cases and a further 316 deaths on Sunday, bringing the country’s total death toll to 70,752. Many hospitals are under pressure, including the largest hospital in Wales, which issued an urgent appeal on Saturday for health care staff or medical students to help care for coronavirus patients in intensive care. The health board that runs University Hospital of Wales said Sunday that the situation has improved, but its critical care unit remains extremely busy. AP
Fauci: US taking hard look at new coronavirus strain
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ASHINGTON—US health officials believe the coronavirus mutation that set off alarms in parts of Britain is no more apt to cause serious illness or be resistant to vaccines than the strain afflicting people in the United States but it still must be taken “very seriously,” the government’s top infectious disease expert said Sunday. Dr. Anthony Fauci endorsed the decision of US officials to require negative Covid-19 tests before letting people from Britain enter the US. He declined to weigh in on whether that step should have been taken sooner. He said the variant strain is something “to follow very carefully” and “we’re looking at it very intensively now.” He said: “Does it make someone
more ill? Is it a more serious virus in the sense of virulence? And the answer is, it doesn’t appear to be that way.” British officials are telling their US colleagues it appears that the vaccines being rolled out will be strong enough to deal with the new variant but, Fauci said, “we’re going to be doing the studies ourselves.” Fauci said the US is at a critical phase of the pandemic, with the worst probably still ahead. He predicted the general population would be getting immunized widely by late March or early April—beyond the frontline workers, older people and certain other segments of the public given priority for the vaccines. Fauci spoke on CNN’s “State of the Union.” AP
OHANNESBURG—South Africa’s Covid-19 spike has taken the country to more than 1 million confirmed cases on Sunday and President Cyril Ramaphosa called an emergency meeting of the National Coronavirus Command Council.
The country’s new variant of the coronavirus, 501.V2, is more contagious and has quickly become dominant in many areas of the resurgence, according to experts. With South Africa’s hospitals reaching capacity and no sign of the new surge reaching a peak, Ramaphosa is expected to announce a return to restrictive measures designed to slow the spread of the disease. “We are not helpless in the face of this variant,” infectious disease specialist Dr. Richard Lessells told The Associated Press. “We can change our behavior to give the virus less opportunities to spread.” He said it’s most important to avoid contact with others in indoor, enclosed spaces. South Africa announced a cumulative total of 1,004,431 con-
firmed cases of Covid-19 on Sunday evening. That number includes 26,735 deaths in a country of 60 million people. “One million cases is a serious milestone, but the true number of cases and deaths is almost certainly much higher,” Lessells said. “We have seen the new variant spread rapidly,” he said, pointing out that genomic sequencing shows it has become dominant in the coastal provinces of Western Cape, Eastern Cape and KwaZuluNatal. It is not yet certain if the variant is as dominant in the inland Gauteng province, which includes Johannesburg and is the countr y’s most popu lous province. “As people return from holidays at coastal areas, we can expect them to bring the variant with
Members of the Saaberie Chishty Burial Society prepare the body of a person who died from Covid-19 at the Avalon Cemetery in Lenasia, Johannesburg on December 26, 2020. South Africa’s health minister has announced an “alarming rate of spread” in the country, with more than 14,000 new confirmed coronavirus cases and more than 400 deaths reported on Wednesday. It was the largest single-day increase in cases. AP/Shiraaz Mohamed
them,” said Lessells. “We can also expect travelers to take the variant with them across the borders to other African countries.” The mutation of the Covid-19 virus has made it bind more efficiently to cells within our bodies, say experts. Va c c i n at io n s h av e n’t y e t reached South Africa, although Ramaphosa has said that he expects 10 percent of the country’s 60 million people to be inoculated in the first months of 2021.
South Africa’s seven-day rolling average of daily new cases has nearly doubled over the past two weeks from 10.24 new cases per 100,000 people on December 12 to 19.86 new cases per 100,000 people on December 26. The number of deaths has also nearly doubled with the seven-day rolling average of daily deaths in South Africa has risen over the past two weeks from 0.25 deaths per 100,000 people on December 12 to 0.48 deaths per 100,000 people on December 26. AP
Japan halts all foreign arrivals over UK variant
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OKYO—Japan is barring entry of all nonresident foreign nationals as a precaution against a new and potentially more contagious coronavirus variant that has spread across Britain. The Foreign Ministry says the entry ban starts on December 28 and last through January 31.
Last week, Japan banned nonresident foreigners coming from Britain and South Africa after confirming the new variant in seven people over the last two days—five from Britain who tested positive at airports and two others in Tokyo. Japan is also suspending the exemption of a 14-day quarantine for Japanese nationals and
resident foreigners in a short-track program that began in November. The entrants now must carry proof of a negative test 72 hours prior to departure for Japan and selfisolate for two weeks after arrival. US military personnel stationed in Japan—who under the Status of Forces Agreement are exempt from Japanese passport control
and visa requirements—would be permitted to enter the country for duty or other reasons, although they would have to follow quarantine rules. Japan, which has been struggling with surging cases since November, has confirmed a total of 217,312 cases, including 3,213 deaths. AP
Pope proclaims year of families and offers advice to keep peace
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OME—Pope Francis on Sunday proclaimed an upcoming year dedicated to the family as he doubled down on one of his papal priorities and urged renewed attention to his controversial 2016 document on family life. Francis announced the upcoming year on the family would begin March 19, the fifth anniversary of his document “The Joy of Love.” Among other things, the document opened the door to letting divorced and civilly remarried couples receive Communion, sparking criticism and even claims of heresy from conservative Catholics. Francis penned the document after summoning bishops from around the world to debate how the Catholic Church can better
Pope Francis caresses a boy as he arrives to celebrate Mass on Christmas Eve at St. Peter’s basilica at the Vatican on December 24, 2020. Vincenzo Pinto/Pool Photo via AP
minister to families. While the divorce-remarriage issue dominated headlines during the back-to-back synods, the discussion also touched on ministering to gay people and other “non-traditional” families. Francis made the comments during his Sunday noon blessing, delivered from inside his studio to prevent people from gathering in St. Peter’s Square below as part of the Vatican’s anti-virus precautions. In making the announcement, Francis offered some friendly papal advice to bickering families, reminding them to say “pardon me, thank you and sorry” and never end the day without making peace. “Because the Cold War the day after is dangerous,” he quipped. AP
Trump signs virus relief bill after panning $600 checks
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resident Donald Trump signed a bill containing $900 billion in pandemic relief, backing down from last-minute demands that undercut his own negotiating team, risked a government shutdown and delayed widely supported economic aid as coronavirus cases continue to rise. The legislation Congress passed on December 21 includes $1.4 trillion in government spending to fund federal agencies through the end of the fiscal year in September. The government had been operating on temporary spending authority that expires after the end of the day Monday. The combined $2.3 trillion package was the product of intense negotiations, from which Trump was largely absent until he surprised lawmakers of both parties by demanding bigger stimulus payments for individuals after the bill was already passed. In signing the bill, Trump demanded a vote in Congress to replace $600 in stimulus payments with $2,000—a non-binding request that is unlikely to pass both chambers.
That demand also plays into Democrats’ hands. House Democrats were already planning a vote Monday to increase payments to individuals, allowing Senate Democrats to pressure Republican leader Mitch McConnell to take up the House bill without other unrelated provisions Trump requested. The top Democrat in the Senate, Chuck Schumer, said that once that House bill passes $2,000 payments, he’ll move for passage in the upper chamber. “No Democrats will object,” Schumer tweeted. “Will Senate Republicans?” House Speaker Nancy Pelosi said in a statement Sunday: “Every Republican vote against this bill is a vote to deny the financial hardship that families face and to deny the American people the relief they need.” Trump’s hesitation to sign the bill means these stimulus payments will likely go out later than Treasury Secretary Steven Mnuchin had promised, and it may cut a week from the supplemental unemployment benefits that were part of the package and scheduled to end in March.
The delay also resulted in a temporary loss of unemployment benefits for gig workers and the long-term unemployed.
Benefits lapse
“Donald Trump’s tantrum has resulted in a lapse in unemployment benefits, and cost millions of jobless workers a week’s worth of income,”Oregon Democratic Senator Ron Wyden said. The virus relief package will likely be the last major legislation signed by Trump, whose re-election hopes were dashed in large part due to his handling of the pandemic. President-elect Joe Biden has said he will push for even more stimulus after taking office early next year, but it remains unclear whether Republicans in Congress will go along. Control of the Senate will be determined by the outcome of two runoff elections in Georgia on January 5. Lawmakers approved the government funding and additional relief after months of inaction, followed
by weeks of grueling negotiations. Business leaders had called on Congress to pass more stimulus, saying that restaurants, theaters, mom-and-pop stores and airlines were being decimated by closures and restrictions as Covid-19 cases spiked in the US. Senate Majority Leader Mitch McConnell, Pelosi and Schumer announced a relief deal on December 20 after more than a week of frantic talks sparked by a bipartisan group of senators who drafted their own compromise proposal and urged their leaders to act. Treasury Secretary Steven Mnuchin, representing the administration, also was involved in the talks. Trump surprised even his fellow Republicans on Tuesday by tweeting a video saying that he wanted Congress to increase the size of stimulus payments for individuals to $2,000, from the $600 in the bill Congress passed. He also complained about federal spending on foreign aid and international programs, even though those funds were allocated as part of the bipartisan appropriations process for funding the government. Bloomberg News
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Tuesday, December 29, 2020 • Editor: Gerard S. Ramos
Show BusinessMirror
www.businessmirror.com.ph
Fiction is this writer’s passion Don Rosal Gonzalez with his family
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T has been four years since Fernando (Don) Rosal Gonzalez decided to pack his bags and leave the Philippines, where he was a promising writer. “My parents and other members of the family all live in the United States and I wanted my kids to grow up knowing the bigger family unit, just like how it is back home, bonding with their grannies, cousins, uncles and aunties.” Gonzalez is credited as the creator and headwriter of the award-winning children’s program Oyayi, coproduced by CBN Asia, NCCT (National Council For Children’s Television), and ABS-CBN, the network responsible for this popular children’s show to be aired in some key cities in North America via The Filipino Channel. He also wrote for another kiddie show, called Jollitown. “Oyayi has remained my favorite all these years because I had to do a lot of research and I had to infuse these with fiction. It is interesting to note that the characters in the show all belong to the endangered species of Philippine wildlife: Tarsiera (tarsier), Diva Butanding (whale shark), Tama Raw (tamaraw), Bon Haribon (Philippine eagle), and Dok Pil (mouse deer). The show aimed to connect the gap between the old and the new, between history and technology, linking the past and the present,” he explained. Oyayi won the Best Children and Youth TV Program at the 2018 Catholic Mass Media Awards, a highlight of Gonzalez’s young career. After dozens of stories that catered to both young and older readers, Gonzalez found himself being pulled to the world of children. “I have always been drawn to stories with children as protagonists. It doesn’t matter if the genre is drama or a hybrid of drama and fantasy. But characteristics that these stories must possess may include the precociousness, struggles, resilience and willingness of these children to overcome insurmountable odds. Sometimes they succeed, and sometimes they don’t—and that’s OK. And perhaps, like other writers, I reckon I had numerous experiences as a child—happy, good, and even frightening memories which I like to revisit and expound on paper. Maybe as a form of catharsis. But I also write based on research and from learning about
FROM left: Tom Rodriguez, Carla Abellana, Coney Reyes, Rhian Ramos and Mikael Daez
‘Love of My Life’ returns to prime time
other people’s experiences.” He admits that he is a fictionist by heart. “When I was young, I loved creating stories and letting my siblings give life to mostly in-a-land-far-far-away type of stories which served as a game for us growing up in Kamuning. In college, I also dabbled in creating short narrative videos, using my friends and siblings as actors.” During his first few years in the United States, Gonzalez enrolled in the City College of San Francisco and took up film courses and creative writing classes. “I took this film class, called American Cinema, and remembered how as a child I was always charmed and mystified by American films, like the Disney classic Peter Pan—the very first movie that I remember watching in a moviehouse.” Interestingly, one of his non-children books, Bukas A.D., won in the Pinoy Story Writing Contest by the National Book Development Board. The novel is about an immigrant who is in comatose for two decades following a bombing. After regaining consciousness, he seeks his identity and his roots. “It is a dystopian novel that began in 2000 and ended in the year 2060. I had originally written it as a screenplay but found that it could make for interesting
and fun prose,” he shared. Currently, Gonzalez is working on a new novel about young adults and he is surprised that as the writing progresses, he realized he has already injected some fantasy or surreal elements to his narrative. “My goal is to finish this novel in the new year,” he said. He also dreams of finishing a script that might be picked up by a film producer for the big screen. He added, “It is important for writers to see their works get published. Writing is such a lonely and solitary job. It is just you and the pen, or the computer. You give both your heart and soul to it. It is not, I think, for the fainthearted because you will face a lot of rejections and criticisms. Last month alone, I got two rejection letters. But on the other hand, last month, too, I got an offer of publication for two of my works. As an artist, you just move forward. Because this is my passion. It is really my heart’s desire to write stories that will explore deeper issues like the Filipino diaspora—stories that have a strong resonance about my faith and values.” Gonzalez says his wife Joy and his children Ivan and Belle are his inspiration, and their love and support for his passion remain priceless all these years. n
❶ The Japanese
Film Festival Plus kicked off with the screening of Project Dreams: How to Build Mazinger Z’s Hangar at the SM Cinema Drive-in at SM Mall of Asia.
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Japan Foundation, Manila director Tsutomu Suzuki (right), with (from left) assistant director Wataru Abe, program coordinator Kanami Namiki, assistant director Tomoko Nakamura, and SM SVP for Marketing Millie Dizon during the Japanese Film Festival opening night at SM Cinema Drive-in at SM Mall of Asia.
YESTERDAY, December 28, marked the much-awaited comeback of the highly rated family drama series Love of My Life to GMA’s prime-time block, giving viewers something to look forward to this new year. After several months of hiatus due to the pandemic, the star-studded cast are all set to gift their loyal fans with a recap of the heartwarming series which they have consistently followed since its pilot airing. Love of My Life explores the atypical relationship of the Gonzales family. Isabella (Coney Reyes), the matriarch, is a rich widow with high standards who would stop at nothing to get what’s best for her sons: Nikolai (Mikael Daez), the youngest son who has grown into a rebellious man, and Stefano (Tom Rodriguez), the favorite son who also happens to father the child of his former lover, Kelly (Rhian Ramos). Amid his mother’s objection, Stefano pursues Adelle (Carla Abellana), a widow with a child who manages her own handicraft business. Their seemingly perfect life crumbles not only when Kelly barges into the picture along with the estranged Nikolai, but also when Stefano gets diagnosed with a terminal illness. Playing equally vital roles are Anna Marin, Vaness del Moral, Geleen Eugenio, Samantha Lopez, Maey Bautista, Angeli Bayani, Ethan Hariot, Raphael Landicho, Levi Ignacio, Carl Guevarra and Dino Pastrano. As the series returns, the cast members reveal how they feel about working in the new normal and alongside each other, their memorable experiences on set, and what’s the most valuable lesson they learned this year. Coney took to Instagram to commend Carla and Rhian’s utmost professionalism: “Happy to be working for the first time in a TV drama with Carla Abellana and Rhian Ramos. These two young actresses exhibit excellent work ethics and display remarkable acting skills. I would say they are underrated. Through time, I know they will get even better and shine even brighter! Such gems of GMA.” Carla, in turn, shares in one of her YouTube vlogs about her experiences on set: “So far, so great. Nag e-enjoy kaming lahat dito. We’re very grateful for our work and for this place. Hindi lang kami makapag-usap masyado dahil concentrated talaga kami sa aming mga eksena, lalo na sa mga linya namin given na for seven weeks ang hawak naming scripts.” Rhian also expresses her gratitude toward her costars and the production team after the success of their lock-in taping, “Our lock-in taping for Love of My Life has come to an end, and I’m leaving our bubble with memories I’ll cherish. So many good times. In the end, it’s those things I take with me. It’s amazing what we were able to achieve despite all challenges. Ipinagmamalaki kong makasama sa isang palabas na gawa ninyo. Thank you for having me in your team.” Don’t miss the highly anticipated recap episodes of Love of My Life under the helm of esteemed director Don Michael Perez, airing weeknights on GMA.
Queen Elizabeth pays tribute to ‘kindness of strangers’
❶
Continued from B5
❸ Solar
Pictures General Manager Butch Ibanez with wife Ma. Elena.
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Japanese Film Festival at MOA Drive-in Cinema THE first digital edition of the Japanese Film Festival Plus: Online Festival recently kicked off with an exclusive screening at the SM Mall of Asia Drive-in Cinema. The Japan Foundation, Manila, in partnership with the Embassy of Japan, SM Cinema, Film Development Council of the Philippines, and JT International Philippines, brought together the only hybrid Japanese Film Festival, which had extended drive-in screenings of the opening film Project Dreams: How to Build Mazinger Z’s Hangar by Hanabusa Tsutomu. The live-action Mazinger Z-inspired film by
Hanabusa Tsutomu follows the journey of Maeda Corp.’s fantasy marketing department, on a mission to make the impossible possible and challenge the boundaries between reality and fiction. During the rest of the festival, Japanese film enthusiasts were treated to 28 full-length films online—ranging from comedy, romance, drama, thriller, documentary, animation, and classic movies, which were available for 24 hours in the newly launched JFF Plus web site run by Japan Foundation. Japan Foundation, Manila bid goodbye to the popular Eigasai brand last March to embrace the
Japanese Film Festival with a fresh selection of fun and exciting films. In 2016, the Japan Foundation rebranded its most-anticipated film event as the Japanese Film Festival with the same mission to promote Japanese film around the world. The Japanese Film Festival remains an avenue to celebrate Japanese culture in the Philippines and increase people’s interest in Japanese films, as well as bridge the Asia-Pacific film market and the Japanese film industry for possible collaborations. Japanese Film Festival is one of exciting crosscultural events at SM Cinema Drive-in at SM Mall of Asia.
virus that is said to spread far easier. “Of course, for many, this time of year will be tinged with sadness: some mourning the loss of those dear to them, and others missing friends and family members distanced for safety, when all they’d really want for Christmas is a simple hug or a squeeze of the hand,” she said. “If you are among them, you are not alone, and let me assure you of my thoughts and prayers.” There was a strong religious theme to the address reflecting her Christian faith and the Queen said the biblical story of the Good Samaritan had relevance today. “Good Samaritans have emerged across society showing care and respect for all, regardless of gender, race or background, reminding us that each one of us is special and equal in the eyes of God,” she said. Though living a far more solitary existence, over the past few months the Queen has been a visible presence, most notably in her two televised addresses to the nation from Windsor Castle in April and May, which were partly intended to bolster people’s resolve in the face of the lockdown. Members of the royal family are spending the festive period at their respective residences this year instead of gathering at Sandringham. AP
www.businessmirror.com.ph
Show BusinessMirror
Editor: Gerard S. Ramos
• Tuesday, December 29, 2020
Queen Elizabeth pays tribute to ‘kindness of strangers’ LONDON—One of the traditional fixtures of any Christmas Day is to see Queen Elizabeth II and her family go to church. Not this year. The coronavirus pandemic has made sure of that. However, the Queen, 94, did fulfill what is considered her most cherished Christmas Day duty. Addressing the nation—as well as the Commonwealth—on television Friday. The Queen, who has spent much of the year
isolating at Windsor Castle with her 99-yearold husband Prince Philip, delivered a heartfelt message of hope in her Christmas address, praising the “indomitable spirit” of those who have risen “magnificently” to the challenges of the pandemic. Seated behind a desk where the only family photo on show was a private portrait of Philip, the queen expressed sympathy for the ordeal of the past few months while also laying out hope of a return
to normality. “We continue to be inspired by the kindness of strangers and draw comfort that—even on the darkest nights—there is hope in the new dawn,” she said. The queen wrote her address, as she does every year, and her words are likely to have added poignancy given the upheaval many families have experienced during the pandemic, particularly in the UK, which has an official coronavirus-related
death toll of just over 70,000, Europe’s second-highest behind Italy. It was recorded before the British government decided last weekend to ditch its plans for a five-day easing of coronavirus restrictions around Christmastime. In many parts of the UK, including London, people were being urged to stay at home and not meet others because of a new variant of the
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Q by Mimosa offers limitless favorites
There’s nothing like the holidays at Sandari Batulao in Batangas
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RAVING to dine in a safe and healthy environment, with scenic views of the Mimosa Plus Golf Course? A limitless dining experience offers all these and more only at Q by Mimosa. From December 22 to January 15, 2021, have a morning start-up with unlimited orders of your breakfast favourites for only PHP 350+. Come lunch time, give in to your cravings with a limitless offering of delicious Asian and Western Cuisine for only PHP 750+. Breakfast is available from 6:00AM to 10:00AM and lunch is available from 11:00AM to 2:00PM every Tuesdays to Sundays. Expect delicious dish highlights as Turkey and Roast Beef for January 1. Q by Mimosa is located at the Mimosa Plus Golf Clubhouse, inside the Filinvest Mimosa+ Leisure City. As a special holiday gift, get a chance to win an overnight stay in Quest Plus Clark and a golf package in Mimosa Plus Golf by simply sharing your dining experience on social media with the hashtags #QbyMimosa and #QuestForLife. To know more, follow
Quest Plus Clark and Mimosa Plus Golf on Facebook and Instagram. For reservations, call (045) 599 8000 or email clarkinfo@questhotelsandresorts.com
Giving Filipinos the opportunity to do business
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MAGINE waking up to misty mornings while you look forward to your first cup of steaming barako coffee. The chilly temperature greets as you watch the sun gently rises from the gentle slopes of the majestic mountains of Batulao and Talamitan. You take in deep breaths of fresh air as the warm sunlight envelopes your body. This is the sought after moment the residents of Sandari Batulao get to enjoy every day. Sandari Batulao is a mountainside wellness community with lush greenery and undulating hills. Christmas mornings here are just lovely, especially
when the fog comes rolling in. Its close proximity to Caleruega Church, Chapel on the Hill, and other churches makes it possible for residents to attend the holy mass, after which is best capped by savoring the local kakanin paired with hot tablea (chocolate drink), or salabat. Christmas at Sandari Batulao offer residents a countryside vibe with simple joys that can only be found in a gated community that’s in harmony with nature’s gifts. Spending some downtime with close friends and family is made more special with the verdant, lush environment as your playground while the breathtaking view
of the mountains provides the perfect background for the memories that will be long remembered. With the holiday decors sprucing up the area, the overall look gives a dreamy feel of the season, something extra special that every resident gets to enjoy right from their own doorstep. Sandari Batulao is a real estate development located in Nasugbu (15 minutes from Tagaytay, Batangas). Few lots left so reserve now. For inquiries, please email us at inquiries@cpmc.ph or check out www.sandaribatulao.com, and Sandari Batulao (Official) on Facebook, and Instagram.
Celebrity philanthropist, COVID-19 survivor Wilbert Tolentino gives back
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ESPITE the struggles and challenges that we are facing because of this global health issues, we Filipinos will rise from this. We are not alone. We have each other. Let us not permit anxiety and sadness get the better of us,’ said former Mr. Gay World titlist Wilbert Tolentino as he successfully hurdles another colorful chapter of his life and career. Yes, the businessman, known for his philanthropic acts, has a new ace on
his shoulder – a vlogger who makes his presence felt in the digital universe to share his blessings and give back. In just two months, his vlogs already reached 300,000 subscribers and it continues to grow. “I am very thankful for this achievement. As a newbie in this entertainment streaming, knowing that I can bring smiles on the lips and good time to my subscribers, that makes me feel great,” declared Tolentino.
“I turned into vlogging because I want to spread joy and honest to goodness entertainment to people who are cocooned in their homes. All of us have faced anxiety and depression in this time of the pandemic,” he added. Having survived critical COVID pneumonia severe, his vlog, aside from the fun a and cheer it brings, is also his way of offering assistance, reaching out to fellow Pinoys who faced all sort of calamities, either man made or because of nature’s wrath, and for all those who are in the sectors greatly afflicted by the current pandemic. Sir Wil, as he is acknowledged in the live entertainment industry, is co-owner of three bars (Apollo, Club 690, Farenheit). His biggest dream as a vlogger is to come up with convention for all the popular and positive influencers in the different social media sites such as Instagram, Twitter, Youtube, Lyka, Facebook. “This coming together of the digital universe’s crème dela crème will define how we can all become more responsible in using the medium in bringing concrete changes that will have beneficial effects to all,” he said. “When all is well next year, I plan to stage The Philippines Influencer Awards 2021 for both media practitioners and vloggers,” he added. On Christmas eve, December 24, Sir Wil held a Noche Bola Raffle Bonanza to further bring cheers toall his subscribers.
O you know that there’s a Filipino brand that quietly helps women address beauty issues that are not often brought to light – the dark underarms and other dark areas in the female body? This brand does this and more, going to the extent of giving Filipino women and OFWs the opportunity to have their own business. Tyff Short started her beauty business in 2012 by selling a beauty facial set that was chemical-based. “My skin is so sensitive and I have psoriasis. Everything was aggravating for me,” Tyff recalls. “This prompted me to explore and research more on plant-based ingredients.” Tyff became vigilant about researching plant-based counterparts to every chemical component of the facial set she was selling. As luck would have it, she had a friend who had a manufacturing business for natural beauty products. Tyff shared her idea with her friend, and One Earth Organics was born. Tyff recognizes that not everyone can afford treatments that would help address their problem areas that’s why she makes sure that One Earth Organics products are not just competitively priced — they are also the most affordable in terms of the promise and results they deliver. One Earth Organics only has 34 SKUs that can address all skin problems. “If you have a dark skin problem in any part of your body, you can use our Wonder Blanche Balm. At the same time, you can use it to moisturize the hardest or roughest areas of your skin,” suggested Tyff.
“I know there are so many salons doing that, but not all people can afford the service. Many people want to use organic and natural, but at the same time get the results, be able to afford it, and experience no side effects,” she added. As the core mission of One Earth Organics is about giving business opportunities to people, Tyff came up with business packages for distributors and resellers, and this led to the organic Herculean growth of One Earth Organics from 2013 to 2017. In 2017, the brand entered Beauty Bar. In 2018, they got into Watson’s. In the midst of these opportunities for the company, Tyff kept her distributors in mind. Instead of opening just company-owned stores in these big retailers, she gave the business to her distributors. “We fought for our 50 franchisees’ stores to remain open during the pandemic, even when all stores were closed. We also have a contingency plan — an emergency plan — where, in case of disasters and a franchise has to close down for a while, we have company-owned stores that we can lend to the franchisee so they can continue to sell and make profit,” Tyff shared. She added: “Our OFW program is about recognizing that an OFW application for a franchise here in the country is an investment. If you want to own a store, we will take care of it for you. We will manage your store for a minimal management fee.” For more information, visit oeorganics.com today.
Enjoy anime treats this holiday season
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ROM orgasmic food choices, exciting fitness journeys, superheroes in training, to Pinoy style street basketball, POPTV got the anime series that will make your holiday viewing worthwhile this Christmas season. Follow the story of talented young chef Yukihira Soma as he finds his way inside the most prestigious culinary school in the country, the Totsuki Culinary Academy, in the Filipino-dubbed “Food Wars.” Let teenage girl Hibiki Sakura take you on her journey
to lose weight and become sexier just so she can finally get a boyfriend in the Filipino-dubbed “How Heavy Are the Dumbbells You Lift?” Izuku Midoriya, on the other hand, proves that anyone can be a hero as his bravery and spirit led him to become one of the students at U.A. School for heroes in “My Hero Academia” also Tagalized for your viewing pleasures. Lastly, Bren Park from the award-winning first Filipino anime series in Asia, “Barangay 143,” finally learns of his biological father and faces the possibilities of leaving his basketball team in the much awaited second season of the show. Make sure to check out new episodes of these anime series every Wednesday on POPTV. To download the streaming app, just search for POPTV PINAS on Google Play, Huawei App Gallery, and Apple App Store. Users can avail its special introductory promo of P49 for 3 months that gives them all access to POPTV’s library of local content (blockbusters, indie and classics) and dubbed Pinoy foreign favorites (KDramas, animes, BL series, asian movies, and more). For more information visit facebook.com/poptvph or visit www.poptv.ph.
Savor the moment with Mang Tomas’ Macho Rap
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OME matches are just made in heaven, as confirmed by the latest collab of OPM legend Gloc-9 and rising pop artist Lirah, Macho Rap. With the angas vibe of Gloc-9 blending harmoniously with the saccharine sounds of Lirah’s vocals, the song definitely dropped some serious sizzle to the local music scene. When it comes to ‘ulam,’ combination is everything. The multi-platinum rapper knows the importance of having a macho ganado sarsa to make his meals taste that much better. “You gotta have Mang Tomas on your food, it’s almost impossible to eat without it. I have to be quick on my toes when I write my raps, so it helps that Mang Tomas always gets me excited to eat,” the rapper said. The macho ganado fest doesn’t end here. An accompanying music video is about to drop, featuring none other than Benjie and
Gloc-9
Andre Paras, as well as comedian Kat Galang. Macho Rap is available for streaming on all digital platforms like Spotify, Deezer, Apple Music, and Youtube Music in 240 countries worldwide.
www.businessmirror.com.ph
Banking&Finance BusinessMirror
Defying pandemic, Makati collects ₧18B at end-Nov, 102% of target
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ESPITE the pandemic, the Makati City government has posted a high revenue collection of over P18 billion in November, surpassing its full-year target of almost P17.8 billion. “It is such a relief to know that even with the restrictions imposed on businesses to curb the pandemic, our city has been able to achieve its overall revenue goal for 2020 before year-end. This encouraging development gives us good reason to be optimistic about brighter prospects for business and the local economy in 2021,” said Mayor Abigail Binay on learning that the city had hit its revenue target. Binay said the P150,510,850.72 is 102 percent higher than target. Based on the report from City Treasurer Jesusa Cuneta, Makati City has achieved 102 percent of its full-year revenue target, and exceeded by 3 percent its actual collections during the same period last year. The bulk of collections came from business taxes amounting to P9.5 billion, and real property taxes worth almost P6 billion. The city also derived income from local revenue sources and other sources, including fees and charges (P609.2 million), and economic enterprises (P135.1 million). Other sources of revenue included interest income (P233.4 million), internal revenue allotment (P1.2 billion), share from Peza or the Philippine Economic Zone Authority (P314.6 million), share from Pagcor/PCSO (P4.1 million), and grants and donations (P110.8 million). Records of the Business Permit and Licensing Office (BPLO) show that as of December 23, there have been 2,789 new business registrants and 35,836 permit renewals. The new enterprises accounted
for P29.8 billion in capital investments, while total gross sales of businesses that renewed their permits reached nearly P1.6 trillion. This year, the city launched technology-enabled programs that benefited Makati residents and taxpayers since the crisis started. In June, the city established the Makatizen Online Assessment and Payment Portal through which residents and business owners can pay their real property and business taxes, using their smartphones or laptops. Thus, they no longer need to line up and observe physical distancing at City Hall. In September, Mayor Abby announced the launch of the P2.5-billion Makati Assistance and Support for Businesses (MASB) Program. It aims to prime the local economy and support local merchants, thus helping sustain and create jobs for residents. Through an online portal, Makati-registered businesses may apply for grants ranging from P10,000 up to P100,000, depending on the type of business and number of employees who are Makati residents. The cash grant will be released directly to the employees and suppliers, as payment for their salaries and goods, respectively. The city has also put up an online accreditation system for Makatibased suppliers of goods and services so they can qualify as beneficiaries of the grant through their business clients. Through its PPP-led digital initiatives, Makatizen Card and Makatizen App, City Hall implemented the P2.7-billion Makatulong P5K for 500K Makatizens. The program has afforded over 400,000 residents with safe and convenient access to P5,000-financial aid via GCash to date. Claudeth Mocon-Ciriaco
DOJ pursues 2-yr-old petition vs CPP-NPA to boost AMLC bid By Joel R. San Juan @jrsanjuan1573
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HE Department of Justice (DOJ) said on Monday it would still pursue the proscription petition it filed two years ago before the Regional Trial Court of Manila City seeking to declare the Communist Party of the Philippines (CPP) and its armed wing the New People’s Army (NPA) or the Bagong Hukbong Bayan as terrorist groups. Justice Undersecretary Adrian Sugay said the objective of the proscription petition is different from the AntiTerrorism Council’s designation of the CPP-NPA as a terrorist group. “Proscription petition will proceed. Designation is mainly for purpose of the AMLC [Anti-Money Laundering Council] exercising its authority to freeze assets or funds,” Sugay explained. The prescription petition has been pending before the Manila RTC since February 2018. The DOJ filed the petition for proscription through Senior Assistant State Prosecutor Peter Ong pursuant to Section 17 of Republic Act 9372 or the Human Security Act of 2007.
If granted, this will allow the government to seek clearance from the Court of Appeals (CA) to engage in wiretapping activities against the communists, as well as apply for a freeze order on, and examination of, the bank accounts and assets of their leaders and identified members. In seeking to declare the communist groups as terrorists, the justice department highlighted the atrocities that the groups committed over the years. The DOJ insisted that the groups were organized for the purpose of engaging in terrorism and in fact, have been committing acts that fall under RA 9372. “To proscribe is to outlaw. Members of the proscribed group may be held liable for violation of the ATA [Anti-Terrorism Act],” Sugay said. In a separate interview over ANC News Channel, Sugay stressed that designating CPP-NPA as a terrorist group would not automatically lead to arrests. “There will be no arrest or detention in the coming days. This is really more for going after the funds or the assets of the designated individual or organizations,” Sugay said.
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Amid pandemic, 40-M lives covered by microinsurance
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By Bernadette D. Nicolas
@BNicolasBM
ESPITE the Covid-19 induced lockdowns, lives covered by microinsurance rose to nearly 40 million during the first half of the year. In a statement on Monday, Insurance Commissioner Dennis B. Funa said the number of insured lives by microinsurance reached 39.67 million as of end-June, a 7.86-percent increase from 36.78 million in the same period a year ago. This, even though Funa said the number of lives insured by the nonlife sector during the period dropped by nearly a quarter to 3.79 million from 5.04 million in the same quarter last year. “The statistics are indicative that it was the nonlife insurance sector that was greatly affected by the implementation of strict community quarantine measures brought about by the Coronavirus Disease 2019 [Covid-19] pandemic,” Funa said. Taking the largest market share in terms of estimated number of individuals covered by microinsurance are Mutual Benefit Associations (MBAs), with 27.43 million lives covered during the first half of the year. This is equivalent to 69.16 percent
of the total market share. As for microinsurance premium production, MBAs have yielded P2.08 billion out of P3.54 billion or 58.78 percent as of end-June this year. According to Funa, CARD Mutual Benefit Association, Inc. remains to be the dominant MBA for its 76.07-percent market share in terms of insured lives and capturing 83.2 percent in total contributions amounting to P1.73 billion as of end-June. While there was a growth in the estimated number of insured lives, the MBA sector suffered a 17.84 percent year-on-year decline in contributions due to the imposition of strict community quarantine measures by the national government in the middle of Covid-19 pandemic. The Insurance Commission said these measures affected the capability of the general public to buy, renew, or to continue paying for various microinsurance products.
China Bank Capital completes ₧150-billion transactions in 2nd sem
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HINA Bank Capital Corp. solely or jointly arranged nearly P150 billion worth of debt capital transactions in the second half, securing the biggest market share among bookrunners. In a disclosure on Monday, the China Banking Corp. wholly-owned subsidiary said the transactions it arranged in the last six months included corporate bonds, notes and other debt securities. “China Bank Capital’s strong performance is motivated by a constant drive to deliver the best results to our clients, and we are pleased to have successfully closed many landmark transactions that helped not just private companies, but also the government and the broader economy,” China Bank Capital President Ryan Martin L. Tapia said. China Bank Capital said it was involved in the most number of local currency and dollar-denominated fixed income issuances this year again. As of December, it has a market share of 30.5 percent. This year, the investment bank was a joint lead arranger for the Bureau of the Treasury’s retail treasury bond offering amounting to P310.8 billion and Premyo Bonds 2. China Bank Capital was also involved in the P10-billion fixed rate bond transaction by Ayala Land Inc. launched and issued during the early community quarantine period. Other corporate issuances that it participated in were from Aboitiz Power Corp., Robinsons Land, SM Investment Corp., Ortigas & Co., Del Monte Philip-
pines, Filinvest Land Inc., San Miguel Corp., Development Bank of the Philippines and China Bank. The investment bank was tapped to be the lead arranger, joint lead underwriter and sole bookrunner for the P20-billion corporate notes facility by North Luzon Expressway Corp. In addition, it was also engaged in Puregold Price Club Inc.’s P12-billion fixed rate corporate note issuance. Parent firm China Bank recently announced its partnership with MultiSys Technologies Corp. to beef up its digital offering for corporate clients. The software solutions firm will be providing solutions to boost its cash management capabilities, including expanding the bank’s electronic collection channels and e-commerce solutions. The bank was also able to keep its Baa2 rating with stable outlook from debt watcher Moody’s Investor Service amid the current economic slowdown as activities were tempered by the restrictions. China Bank’s investment grade rating, which is at the same level as the Philippine sovereign rating, covers the long-term foreign currency counterparty risk and long-term foreign currency deposit. In the first three quarters, China Bank grew its net earnings by 23 percent to P8.2 billion on the back of its robust core businesses. China Bank shares fell 1.39 percent, or 35 centavos, to end at P24.85 apiece amid the 1.14-percent plunge for the main index on Monday.
Tyrone Jasper C. Piad
Nonetheless, Funa expressed confidence that these figures will improve in the third and fourth quarter of the year as community quarantine guidelines were eventually eased. Trailing CARD Mutual Benefit Association in terms of estimated number of lives insured for the first half of the year are Pag-Asa ng Pinoy MBA, Tulay sa Pag-unlad Mutual Benefit Association, Inc., Alalay sa Kaunlaran (ASKI) Benefit Association, Inc., and Kasagana Ka Mutual Benefit Association, Inc. Capping the top 5 MBAs for total contributions made during the period are Pag-Asa ng Pinoy MBA, Inc. ranked second, followed by Tulay sa Pag-unlad Mutual Benefit Association, Inc., Simbag sa Emerhensiya Asin Dagdag Pasegurohan MBA, Inc., and Alalay sa Kaunlaran (ASKI) Benefit Association, Inc.
Life insurance
Meanwhile, the life insurance sector posted an 8.77-percent growth in terms of lives insured by microinsurance during the first half of the year to 8.44 million from only 7.76 million in the same period in 2019. In the same period, the total microinsurance premium production of the sector slid by 14.52 percent to P1.05 billion from last year’s P1.23 billion. Funa said the the decline was “presumably due to the adverse effects of the Covid-19 pandemic.”
Leading the life insurance companies in terms of estimated number of lives covered by microinsurance for the first half of the year is Pioneer Life, Inc., followed by CLIMBS Life and General Insurance Cooperative, United Coconut Planters Life Assurance Corporation, 1 Cooperative Insurance System of the Philippines Life and General Insurance, and Paramount Life and General Insurance Corporation. Meanwhile, CLIMBS Life and General Insurance Cooperative ranked the highest among life insurance companies in terms of microinsurance premium production. It is followed by Pioneer Life, Inc., United Coconut Planters Life Assurance Corporation, Country Bankers Life Insurance Corporation, and 1 Cooperative Insurance System of the Philippines Life and General Insurance. On the other hand, the nonlife insurance sector’s microinsurance premium production settled at only P405.13 million as of end-June, a 14.48 percent decline from P473.74 million in the same period a year ago. Visayan Surety & Insurance Corporation led the nonlife sector in terms of lives covered. Completing the top 5 are Pioneer Surety & Insurance Corp., Card Pioneer Microinsurance Inc. (Pioneer Asia), The Mercantile Insurance Co. Inc., and BPI/MS Insurance Corp.
BDO re-engineers digital platforms for clients’ needs By Tyrone Jasper C. Piad @Tyronepiad
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DO Unibank Inc. is working on its digital platforms via an end-to-end re-engineering process to enhance customer experience after receiving numerous complaints. The Sy-led bank told the BusinessMirror that it has been investing in digital infrastructure to address potential capacity constraints in its online platforms, especially at a time when consumers are shifting to digital. To recall, many customers voiced their concerns toward the bank’s digital platform earlier this year because they had a hard time accessing their accounts or accomplishing transactions online. “Unfortunately, we were hit with substantial increases in usage volume which affected the performance of our digital services. We have since addressed the capacity issues allowing us to stabilize our existing platform,” BDO assured the public. BDO said it is embarking on an end-to-end re-engineering of business processes to streamline bank operations, which includes robotic process automation. This can help the bank improve efficiency, enhance customer experience and reduce costs in the long term, it added.
“Moreover, our ongoing NextGen IT upgrade will allow the Bank to quickly respond to shifts in customer demands and behavior, allowing delivery of banking services reliably and accessibly,” BDO explained. Asked if it is open to setting up a separate digital banking arm, BDO replied, “We do not plan to set up a separate digital banking subsidiary, as we are building the capabilities of a digital bank within the Unibank.” Among its initiatives are improving cyber resiliency and developing a multi-year plan to move operation capabilities to the next generation architecture, it cited. In the first nine months, BDO saw its net income drop by 48 percent to P16.6 billion because of higher provisions for potential credit loss. Gross nonperforming loans ratio stood at 1.97 percent while NPL coverage was P138 percent. Loan loss buffer reached P23.8 billion for the period. The bank has a capital base of P378.6 billion as of end-September, translating to capital adequacy ratio and common equity tier 1 of 14.2 percent and 13.2 percent, respectively. Both are above regulatory minimum. Shares in BDO slid by 2.15 percent, or P2.30, to close at P104.50 each amid the 1.14-percent drop for the benchmark index on Monday.
How to know if it’s time to quit your job and go full time on your business
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TARTING a business remains among the top aspirations of many employees. I also had that dream once...a dream that I was able to turn to reality almost a decade ago. And today, I’m sharing with you how I knew it was time for me to quit my job and become a full-time entrepreneur. These are the questions I asked myself before I decided to tender my resignation letter to my boss. Do I have a good, running business? I highly discourage anyone from quitting their job to start a business. The business should already
Fitz Gerard Villafuerte
personal finance be running before you resign from work. If you think this is impossible, then you’re underestimating your capabilities. Before I quit, my software development freelance “business” was already set and I had clients lined up to last me the whole year. Likewise, I’ve met countless business owners
who also started their ventures while they’re still employed. If we can do it, you can too. Do I have enough savings to last me at least six months? Quitting work will affect your cash flow because you’re losing a good source of income. So be sure you have enough savings to survive at least six months. This will allow you to focus on the business without worrying about your own costs of living. What you can do is to live only with your salary income, then save all your business profits and make it your buffer fund for use when you
finally resign. What will I do when I resign? Once you get out of the rat race, you’ll get an extra 40 hours a week (probably more). What do you plan to do with all that extra time? The answer is to come up with a list of tasks that will keep you productive, and more importantly, contribute to the growth of your business. Design your new, postcorporate-world, daily, and weekly work routine. How do I want the business to grow when I go full-time? The business should not remain the same when you quit your job.
If you have no plans of growing it, then there’s very little point in resigning because all you’re doing is just straining your cash flow by cutting off an income source (your job). So before you quit your job, review your business first, especially its mission, vision and values statements. Reflect upon them and plan for the “next chapter” of the business. What’s my “Plan B trigger”? When you don’t have a back-up plan, you’ll be more determined and focused to make your one and only plan to work. However, you should be practical enough to define the
situation when drafting a “Plan B” becomes necessary. Back then, I set a minimum acceptable monthly net profit for the business. And if I fall below that target for three consecutive months, then that’s my signal to consider my available options regarding the business, and my personal finances, including the possibility of going back to employment.
Fitz Villafuerte is a registered financial planner of RFP Philippines. To learn more about personalfinancial planning, attend the 87th RFP program this January 2021. To inquire, e-mail info@rfp.ph or text at 0917-6248110.
Sports BusinessMirror
NAOMI OSAKA is The Associated Press’s top athlete for 2020. AP
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| Tuesday, December 29, 2020 mirror_sports@yahoo.com.ph Editor: Jun Lomibao
NAOMI’S YEAR W
ITH tennis, like so much of the world, shut down because of the coronavirus pandemic, Naomi Osaka found herself with time to read and think. And while she won the US Open for her third Grand Slam title, she also stood out for speaking out about racial injustice and police brutality. As noteworthy in 2020 for her activism away from the tennis court as her success on it, Osaka was selected by The Associated Press (AP) as the Female Athlete of the Year in results revealed Sunday after a vote by AP member sports editors and AP beat writers. “It was difficult to be isolated from my family for large parts of the year, but that’s nothing compared to others. It was sad to watch and read the news of people suffering from Covid-19, and the economic and social effect on so many—losing jobs, mental health. It was such a tough year for so many people,” Osaka wrote in an e-mail interview. “And then watching the police injustices like George Floyd, Breonna Taylor and Jacob Blake [to name just a few] in the summer broke my heart. I am proud of my US Open victory, but more so that I got people talking about the real issues.” Osaka collected 18 of 35 first-place votes and a total of 71 points. Women’s National Basketball Association
(WNBA) Finals MVP Breanna Stewart was next with nine first-place votes and 60 points, followed by Sarah Fuller, the Vanderbilt soccer player who kicked for the school’s football team, with one first-place vote and 24 points. LeBron James was announced Saturday as the AP Male Athlete of the Year. Billie Jean King, a 12-time Grand Slam singles title winner and a pioneering advocate for decades, praised Osaka for positioning “herself as a leader not only in women’s tennis but in all of sports and a force for change in our society.” “She successfully completed the difficult task of taking excellence in sports performance and using that platform to succeed outside of sports on a much bigger stage,” King told the AP. “She ignited a conversation on social justice, the results of which were bigger than tennis, larger than sports, and in doing so raised the bar for all those who want to leverage the gifts and talents we have to make a difference in our world.” Osaka went 16-3 during the coronavirustruncated tennis calendar—the professional tours took about a five-month hiatus; Wimbledon was canceled for the first time since 1945—and ended the year ranked No. 3. The defining stretch of Osaka’s season came in August and September, when she compiled an 11-match winning streak that included the US Open.
It was during a tuneup tournament in New York that Osaka—whose father is Haitian and mother is Japanese—declared she would not play her semifinal, joining athletes from the NBA and elsewhere in protesting the police shooting of Blake. “There are clearly so many worthy issues. This one especially resonated with me because of my own personal up-bringing; and also while the tennis tour was paused, I was able to watch and read news at length for the first time in my life. This summer in the US, tensions were high and reached boiling point,” Osaka said. “It was the right time for me to speak up.” Taking her lead, that tournament shut down completely for a day. “Her activism has shone a light on how we as individuals and sports leagues can collectively make an impact,” Women’s Tennis Association Chairman and CEO Steve Simon said. “Not only is she a phenomenal tennis player, but she also demonstrates how athletes have an opportunity to use their platform for something bigger than the game or themselves. Her actions are nothing short of inspiring and she is so very deserving of this recognition.” AP
Mavs set NBA record with 50-point halftime lead in rout of Clippers
Federer to miss Australian Open
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OGER FEDERER withdrew from the Australian Open while he continues preparing to return to action after two operations on his right knee and a tour absence that will have lasted longer than a year, his agent told The Associated Press. Tony Godsick—Federer’s longtime representative and CEO of their management
company, TEAM8—said Sunday he is working on putting together a 2021 tennis calendar for the 20-time Grand Slam champion, who plans to get back to competition soon after the year’s first major tennis tournament. This ends Federer’s streak of 21 consecutive appearances at Melbourne Park, a run that began with his 2000 debut there and includes
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six championships. “Roger has decided not to play the 2021 Australian Open. He has made strong progress in the last couple of months with his knee and his fitness. However, after consultation with his team, he decided that the best decision for him in the long run is to return to competitive ROGER FEDERER’S streak of 21 consecutive appearances at Melbourne Park ends. AP
tennis after the Australian Open,” Godsick said in a statement sent to the AP. “I will start discussions this coming week for tournaments that begin in late February and then start to build a schedule for the rest of the year,” Godsick said. The start of the Australian Open’s main draw was delayed by three weeks because of the coronavirus pandemic and is now scheduled to begin on February 8. In other news related to the tournament, Tennis Australia announced that five-time runner-up Andy Murray was given a wild-card entry. Murray, a three-time major champion and former No. 1, is 122nd in the rankings after going through two hip operations and considering retirement. The 39-year-old Federer, who has spent more weeks atop the Association of Tennis Professionals rankings than anyone else but is No. 5 after his hiatus, is currently training in his usual offseason home of Dubai, United Arab Emirates. The choice to delay his comeback came with input from coaches Severin Luthi and Ivan Ljubicic and fitness coach Pierre Paganini. “We wish him all the best as he prepares for his comeback later in the year,” Australian Open tournament director Craig Tiley said in a tweet confirming that Federer pulled out of the field, “and look forward to seeing him in Melbourne in 2022.” Federer hasn’t played a tournament match since late January at the 2020 Australian Open, where he was clearly injured while losing in straight sets to eventual champion Novak Djokovic in the semifinals. Soon after, Federer participated in an exhibition charity event with Rafael Nadal in front of a record tennis crowd of more than 50,000 people at a soccer stadium in Cape Town, South Africa. Just weeks later, Federer announced he had arthroscopic surgery on his right knee and would be sidelined for at least four months. He later had a second procedure on that knee and wound up missing the rest of the pandemic-altered season. One measure of Federer’s popularity: Despite appearing in only six matches in 2020, he recently was voted the winner of the ATP Tour fans’ favorite award for the 18th consecutive time. Until this knee issue, Federer only had his career interrupted once by an operation—on his left knee in 2016. He sat out the second half of that season, including the Rio de Janeiro Olympics and the US Open, but was back at his best when he resumed playing, winning the Australian Open and Wimbledon in 2017. He won the Australian Open again the following year for No. 20 in his Grand Slam collection, which includes eight trophies from Wimbledon, five from the US Open and one from the French Open. While Federer was sidelined this year, Nadal equaled his men’s record for most major championships by collecting his 20th at Roland Garros in October. Federer posted a congratulatory message on social media to Nadal that day, saying he hopes “20 is just another step on the continuing journey for both of us.” Djokovic’s title in Australia this year moved him closer to the other members of the Big Three of men’s tennis with a total of 17. AP
OS ANGELES—Luka Doncic scored 24 points and the Dallas Mavericks led by a National Basketball Association (NBA)record 50 points at halftime in a 124-73 rout of the Los Angeles Clippers on Sunday. Josh Richardson added 21 points and Tim Hardaway Jr. had 18 points for the Mavericks. The Clippers trailed 77-27 at halftime, with their 50-point deficit being the largest at the break in the shot-clock era, which began in 1954-55. Paul George led the Kawhi Leonard-less Clippers with 15 points before sitting out the second half. Serge Ibaka added 13 points and nine rebounds over three quarters of the team’s first loss. The Clippers opened with victories over the defending NBA champion Lakers and Denver. Leonard sat out after needing eight stitches in his mouth after accidentally getting elbowed by the 7-foot Ibaka going for a rebound in Friday’ night at Denver. In Chicago, Damion Lee hit a threepointer with 1.7 seconds remaining and Stephen Curry scored 36 points, sending Golden State past Chicago, 129-128, for its first victory of the season. With the Chicago defense focused on the sharp-shooting Curry, Lee took a handoff after Golden State inbounded the ball with 5 seconds left and fired from a few feet beyond the top of the 3-point arc. Lee finished with 12 points on 4-for-5 shooting on 3s. Curry was 11 for 25 from the field, including 5 of 15 on three-pointers—a
day after making 105 straight 3s to finish practice at the Bulls’ facility. With his first 3 late in the first quarter, Curry became the third NBA player to amass 2,500 career 3-pointers. Ray Allen (2,973) and Reggie Miller (2,560) are the others. Late in the third quarter, Curry set a Warriors record for most consecutive made free throws with his 61st dating to last season. He finished 9 for 9 for the game to run his streak to 64. Rick Barry set the previous record of 60 in 1976. Zach LaVine had 33 points for winless Chicago. Kyle Kuzma scored 20 points in the first half while starting in Anthony Davis’s place, and LeBron James added 18 points in Los Angeles’s 127-91 win over Minnesota. Star big men Davis and Karl-Anthony Towns sat out. Kuzma had a phenomenal opening half in his first start. He hit three consecutive three-pointers to open the scoring in a wireto-wire win for Los Angeles, which led by 20 in the first quarter and 36 in the third. Marc Gasol had 12 points, eight assists and seven rebounds in just 21 minutes for the Lakers, while James tied Kevin Garnett for fourth place in NBA history by scoring at least 10 points for the 1,260th time. No. 1 pick Anthony Edwards had 15 points on 6-of-21 shooting in the Timberwolves’ first loss of the season. Minnesota missed its first 12 3-point attempts while falling behind by 23 early in the second quarter. AP
Messi floats future move to US
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ARCELONA, Spain—Lionel Messi won’t make a decision on his longterm future at Barcelona until the season is over, with the soccer great also raising the possibility of playing in the United States one day in a TV interview broadcast Sunday. “I am going to wait until the end of the season [to decide],” the 33-year-old Messi told private Spanish station La Sexta. About fifth-place Barcelona’s future prospects, Messi said “there is no money” and “it is not going to be easy to turn this around.” MESSI
As of January 1, Messi could negotiate with other clubs as his contract with Barcelona is set to expire in June. In August, Messi stunned Barcelona by telling the club he wanted to leave following a season without titles that ended in a humiliating 8-2 defeat to Bayern Munich. The club said no, and Messi backed down saying that he could not take his club to court. He has played as hard as ever since then, but has not said if he has changed his mind over wanting to leave. “Now I am focused on winning titles instead of other things,” Messi said in the rare interview. “I have always had the idea that I would like to have the experience of playing in the United States, but this is not the time for it.” Messi also said he would not publicly support any of the candidates who plan to run in club elections set for January 24. Nor was he overly enthusiastic about the immediate prospects of the team. “Let the best candidate win,” Messi said. “Whoever does will find a very difficult situation, it is not going to be easy to turn this around. It is going to be difficult to bring in players. That requires a lot of money and there is no money. We need several important players to get back to fighting for titles.” Barcelona reported losses of €97 million ($118 million) last season and sold off several veteran players, including Messi’s strike partner and friend, Luis Suárez. The interview with Spanish journalist Jordi Évole was recorded recently and aired hours after Barcelona announced that Messi would miss Tuesday’s Spanish league game against Eibar due to an unspecified ankle injury. AP