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BSP: DEC INFLATION TO SETTLE WITHIN 2.9-3.7% www.businessmirror.com.ph

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Wednesday-Thursday, December 30-31, 2020 Vol. 16 No. 83

By Bianca Cuaresma

DUTERTE VETOES AGENCIES’ DIRECT USE OF THEIR INCOME, MONITORING OF INTEL FUNDS

HE growth in consumer goods’ prices toward the holiday season likely remained manageable despite typhoon disruptions and economic disturbances caused by the movement and travel restrictions forced by the Covid-19 pandemic, the Central Bank said.

Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno told reporters on Tuesday that inflation in December likely settled between 2.9 percent and 3.7 percent.

Should inflation hit the floor of BSP’s forecast for the month, inflation will average at 2.6 percent for 2020. Should it hit the ceiling of the forecast range, inflation will average 2.7 percent for 2020. Both remain within the government’s 2-percent to 4-percent target range for inflation for the year.

“Higher prices of domestic petroleum products and key agricultural items contributed to upward price pressures during the month. These could be partly offset by the downward adjustment in electricity rates in Meralco-serviced areas, along with slightly lower rice prices and the continued appreciation of the peso,” the governor said.

See “BSP,” A2

P25.00 nationwide | 2 sections 22 pages | 7 DAYS A WEEK

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By Samuel P. Medenilla

RESIDENT Duterte scrapped the provisions of the P4.5-trillion 2021 national budget that would have allowed government agencies to directly use their income and gave Congress powers to monitor the spending of intelligence funds.

In his letter addressed to House Speaker Lord Alan Velasco and Senate President Vicente Sotto III, Duterte disclosed he opted to subject the said provisions under direct veto for being unconstitutional.

He cited the special provision of the 2021 General Appropriations Act (GAA), which would have allowed the Department of Labor and Employment (DOLE), the Philippine Overseas Employment Administration (POEA), the Philippine Racing Commission (PRC) and the Optical Media Board (OMB) to exceed their fund allocation next year.

It would have also reduced the available revenue to the national government for fiscal year 2021.

“Such provisions are considered as ‘riders’ that are violative of Section 25 (2), Article VI of the Constitution, which prescribes that ‘[n]o provision or enactment shall be embraced in the general appropriations bill unless it relates specifically to some particular appropriation therein,” Duterte said.

He also vetoed the 2021 GAA provisions granting authority to the Subic Bay Metropolitan Authority (SBMA) to use its excess dividends.

See “Intel,” A2

A SIGN reminding people to practice social distancing to prevent the spread of Covid-19 apparently goes unheeded as Quezon City residents flock to City Hall on Tuesday (December 29, 2020) to avail themselves of the P2,000 cash relief from the Quezon City Kalinga Program. NONOY LACZA

RCEP ratification by PHL to aid recovery–DTI

By Elijah Felice Rosales

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HE Department of Trade and Industry (DTI) is hoping policy-makers would ratify the Regional Comprehensive Economic Partnership (RCEP) within 2021 in support of the country’s economic recovery from the unprecedented damage wrought by the Covid-19 pandemic.

In an interview with reporters, Trade Assistant Secretary Allan B. Gepty said the DTI expects the RCEP’s ratification and Senate concurrence by next year. The

RCEP is a multilateral trade deal concluded in November involving the 10 Southeast Asian nations and trading partners Australia, China, Japan, New Zealand and South Korea.

As with any free-trade agreement (FTA), the RCEP has to be ratified by President Duterte and must be approved by the Senate before it takes effect on the domestic end.

Next year would be the ideal time to ratify the RCEP, Gepty said, as it can be used by exporters to boost their activities in line with the national recovery from the

PESO EXCHANGE RATES n US 48.0360

health crisis. Further, he said the RCEP as a whole may only be legally enforced by 2021 due to a clause that states the trade deal can only take effect once it is ratified by majority of the signatories.

“The effectivity of the RCEP agreement depends on the signatories. It will become effective only when there are at least six Asean member states and three trading partners who deposited their approval,” Gepty explained.

In a previous statement, Trade Secretary Ramon M. Lopez himself said he believes lawmakers will rat-

ify the RCEP without delay, as the trade deal could be key in bringing down the cost of Covid-19 vaccines and facilitating their transfer to the Philippines.

Lopez explained that the Philippines can maximize its membership in the RCEP to reduce the cost of vaccines manufactured by parties to the trade deal, particularly China. He said tariffs for medical supplies are trimmed, if not eliminated, under the RCEP, as agreed upon by negotiators, in view of the health crisis.

See “RCEP,” A2

n JAPAN 0.4629 n UK 64.6228 n HK 6.1935 n CHINA 7.3469 n SINGAPORE 36.1200 n AUSTRALIA 36.3969 n EU 58.6904 n SAUDI ARABIA 12.8007

Source: BSP (December 29, 2020)

News A2 Wednesday-Thursday, December 30-31, 2020

BusinessMirror

Covid variant alert prompts expanded PHL travel ban

By Samuel P. Medenilla, Ma. Stella F. Arnaldo & Claudeth Mocon-Ciriaco

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RESIDENT Duterte has approved the expansion of a travel ban on 19 more countries and territories to contain the possible spread of the new coronavirus strain recently found sweeping the UK. The countries and territories are: Denmark, Ireland, Japan, Australia, Israel, the Netherlands, Hong Kong, Switzerland, France, Germany, Iceland, Italy, Lebanon, Singapore, Sweden, South Korea, South Africa, Canada and Spain.

Duterte earlier approved a ban on inbound and outbound flights to the UK, as 10 Downing Street put London and Southeast England under Tier-4 restrictions, and imposed a travel ban as well.

According to the December 29 memorandum from Executive Secretary Salvador C. Medialdea to Health Secretary Francisco T. Duque III, the travel ban on these countries begins December 30 and will last until January 15, 2021.

Health Undersecretary Dr. Ma. Rosario S. Vergeire told the BusinessMirror the United States was not included in the travel ban because, “they have not officially reported [the presence of the new virus strain] through the International Health Regulations system managed by the WHO [World Health Organization],” unlike the countries included in the

Janssen gets FDA nod for trial; China vax entry probed Continued from A12

Clover pends while the agency awaits certain documents “from the proponent to be able to complete the requirements while Sinovac has requested some changes on their protocol design,” Domingo said.

Asked about the possible “gains” after Janssen decided to conduct the clinical trials in the country, Domingo replied, “The good thing about it is, of course, number one, we will be contributing to the world knowledge on the development of a vaccine.”

He added, as gains: “The potential use of a vaccine. The added bonus to us, if this turns out to be a good vaccine, then at least we know a few thousand Filipinos have been tested, seen [the] effects, and possible side effects.”

“That would then make it easier for us to make a decision, when it comes to authorization and maybe actual use of that potential vaccine,” he said.

Pfizer seeks EUA

MEANWHILE, Domingo said that only American drugmaker Pfizer has submitted an application for Emergency Use Authorization (EUA) of its Covid vaccine in the country.

Domingo said they will be completing the preliminary investigation of Pfizer’s request “within two weeks” to look into their evaluation on “both regulatory side and clinical side” for the efficacy and safety of the vaccine before making a decision.

expanded travel ban.

US media, citing medical professionals, however, have confirmed the possibility that the new virus strain that causes a more infectious Covid-19 has probably been spreading there already. Also not included in the travel ban are Middle Eastern countries, where the bulk of overseas Filipino workers (OFWs) reside.

Presidential spokesman Harry Roque said the Office of the President could further expand the list of countries included in the travel ban upon the recommendation of the Department of Health (DOH) and the Department of Foreign Affairs.

Foreigners already in transit and will arrive before December 30, 2020, 12:01 will still be allowed entry into the country, but will be required to undergo 14day quarantine period in facility, notwithstanding a negative result of their mandated reverse transcription-polymerase reaction (RT-PCR) test results.

Exemptions

ALL Filipinos coming from the 20

countries will still be allowed entry in the country provided they also undergo a 14-day quarantine in government facility and RT-PCR tests.

Roque said the government will allow Filipinos to travel to those countries covered by the travel ban on condition they comply with local exiting protocols and entry protocols in their destinations.

Labor and Employment Secretary Silvestre H. Bello III said the Philippine Overseas Employment Administration (POEA) will not impose a deployment ban for OFWs bound for these countries.

However, he noted some of the said countries have already implemented a lockdown on their own, barring inbound and outbound flights in their territories.

The government implemented the travel restriction after the UK reported a new, more infectious strain of Covid-19, designated as B117, among its citizens.

The presence of the new strain has since then been recorded in the 19 other countries covered by the travel ban.

tions from the new variant have entered the country.

Health Undersecretary Maria Rosario Vergeire said the PGC will be receiving until today (December 30) samples from laboratories from the previous inbound passengers coming from the UK and other countries where the new strain was reported.

Vergeire said the samples needed for genome sequencing, a process which involves revealing the order of bases present in the entire genome of an organism, are from those who were infected. The samples are from the months of November and December.

“We will wait for the result [of the genome sequencing] next week,” Vergeire said, adding that they promised the Office of the President a report on the PGC’s findings by the first week of January.

Meanwhile, Vergeire also revealed that out of 85 inbound passengers from the UK, one turned out positive, 81 tested negative, while three other results are still “pending”.

Genome Center at work

Covid cases

ASIDE from the travel ban, the government also intensified its “biosurveillance” measures through genome sequencing to detect if the new strain of Covid-19 is present in the country.

Currently, the DOH has yet to report of any Filipino infected with B117.

The Philippine Genome Center (PGC) started receiving samples on Tuesday to detect if infec-

AS of 4 p.m. of December 29, 2020, the DOH logged 886 additional cases, bringing the total number of infections in the country to 471, 526.

There were also 253 recoveries and 38 deaths.

Of the total number of cases, 5.0 percent (23,348) are active cases, 93.1 percent (439,016) have recovered, and 1.94 percent (9,162) have died.

Households with children, pregnant women hurt by food insecurity in pandemic Continued from A12

Coping mechanisms

THE food-insecure families adapted coping mechanisms to avail themselves of food, including purchasing food on credit (71.8 percent), borrowing food from relatives and neighbors (66.3 percent), barter or exchanging goods (30.2 percent) and adults limiting amount of food intake in favor of children (21.1 percent).

Among the problems encountered by more than half, or 56.3 percent of households, in sourcing food during community quarantine involved having no money to buy food (22.1 percent), no public transportation and could not go out (20.9 percent), and loss of job (19.5 percent).

The respondents availed themselves of the following intervention programs during the pandemic: • 96.6 percent received food assistance or ayuda from LGUs and private and/or nongovernment organizations (NGOs), of which 48.9 percent received them two to three times; • Increased frequency of four to seven ayuda was noted in highrisk areas, or 51.7 percent of surveyed households; • Only two to three ayuda were received by 57.6 percent of respondents in low-risk areas and 51.2 percent by medium-risk areas.

• 62.9 percent of households received cash assistance from either the national or LGUs, of which more than half (58.7 percent) received once.

• About 56.4 percent of respondents in the high-

risk areas received cash assistance two times.

• In low-risk areas, 78.2 percent of surveyed households received cash assistance only once.

Basic nutrition and health services

THE presence of Covid-19 also affected basic nutrition and health services. This was indicated by the significant reduction in the Operation Timbang (OPT Plus), vitamin A supplementation, supplementary feeding and deworming program participation as follows:

• OPT plus, 51.1 percent • Vitamin A supplementation, 54.9 percent

• Deworming, 35.3 percent

• Supplementary feeding, 11.9 percent

Child stunting

THE study revealed that the mothers have perceptions and knowledge on child stunting. It showed that:

• 19.7 percent of mothers from the food-insecure families perceived their children to be stunted, or short; • 80 percent of mothers reported their children are not getting taller; • 23.4 percent reported their children had lost weight; • 66.7 percent said their children are stunted due to inadequate food intake; • 39.4 percent said hereditary, or genetic influence, was the cause of stunting.

Gaps in accessing health facilities for maternal health

GAPS in accessing health facilities for maternal health services during pregnancy were likewise evident.

The findings: • 15.5 percent of pregnant women had no prenatal check-up because: 39.1 percent expressed fear going to any health facility; 34.8 percent had no available transportation; 13.0 percent were not aware they were pregnant; 13.0 percent had no money to go to the nearest health facility; and 13 percent were busy, had no time, or were not interested.

In addition, only the Barangay Health Center was reported by 69.6 percent to be the most accessible health facility for maternal health services, followed by private clinics (23.2 percent).

The survey also noted that 14.2 percent of pregnant women did not take vitamins and mineral supplements.

Breastfeeding not affected

by Covid-19

THE study found that the pandemic did not drastically affect breastfeeding practices. The reasons were:

• 59.7 percent of children 0-23 months were being breastfed during the pandemic.

• 60.8 percent of children 0-5.9 months were reported to be exclusively breastfed.

However, among mothers and caregivers who had access to breastfeeding and complementary feeding information, only 20.1 percent had access to breastfeeding and complementary feeding information.

The sources of information on breastfeeding and complementary feeding are: 67.1 percent, healthcare facilities; 25.9 percent, TV; 22.8 percent, social media; 13.9 percent, printed materials; and 7.6 percent, radio.

www.businessmirror.com.ph

AS BORROWINGS RISE 3-FOLD, SOLON SAYS: DON’T FEAR DEBT Continued from A12

“Even the most developed global economies, such as the United States, have applied this insight in their policies.”

In the third quarter, household consumption declined by 9.3 percent, which is a reversal of the 6-percent growth in the same period last year. However, it is an improvement from the 15.3-percent plunge in the second quarter.

The countries that were aggressive in providing stimulus checks registered “quick” economic recovery, Salceda said.

With this, he said that the House should consider universal basic income or a minimum cash transfer to all households.

Salceda explained that, in the Philippines, a targeted cash subsidy to the poor was instead implemented. He said it was a “solution somewhat more politically acceptable on the one hand, but also less efficient and less easy to implement.”

Stable inflation

INFLATION will continue to remain at low levels next year, Salceda projected. Consumer price growth stood at 2.6 percent on average as of November, which is within the government target band of 2 percent to 4 percent.

However, he warned that the economy may deal with a “combination of low inflation, low growth and low interest rates.”

“This is a problem because it will blunt the effectiveness of monetary policy in the future. What is left to adjust to induce growth, if interest rates are already very low?” he said.

To infuse liquidity into the financial system, the BSP trimmed the policy rates by 200 basis points in total this year, with overnight reverse repurchase facility currently at 2 percent.

“High growth must be the aim of corresponding fiscal policy, to avoid this terrible trio,” Salceda stressed.

While Salceda welcomed the Central Bank’s aggressive monetary policy stance, he also called for reforms in the banking industry to make monetary policy more effective in fostering economic growth.

The Development Budget Coordination Committee expects the Philippine economy to plunge by 8.5 percent to 9.5 percent this year as business activities continued to slump amid the prolonged lockdown measures due to the pandemic. It is worse than the earlier forecast of a 5.5-percent contraction for the GDP.

BSP…

Intel…

Inflation in November hit 3.3 percent. In its last monetary policy meeting for the year, the BSP revised its inflation target to 2.6 percent from 2.4 percent in the November meeting.

For 2021, the BSP expects inflation to hit 3.2 percent from the earlier expectation of 2.7 percent. Meanwhile, it kept its expectation unchanged at 2.9 percent for 2022.

Economists expect inflation to trend downwards in 2021, as they see the 3.3-percent November inflation as a one-off event.

“We think November’s uptick will turn out as a one-off event and prices will revert to pre-typhoon days. Thus, we keep our annual forecast of 2.6 percent for the year,” analysts said in the First Metro Investment Corporation (FMIC) and University of Asia and the Pacific (UA&P) Market Call publication.

SBMA together with other government-owned and -controlled corporations should continue to remit 50 percent of their annual net earnings to the national government unless it is adjusted by the Office of the President, according to Duterte.

Continued from A1

More cuts?

Continued from A1

THE tamer inflation, economists said, will give the BSP further elbow room to cut rates anew if needed by the economy.

Annually, the BSP holds eight meetings every six weeks. For 2020, five of these meetings were rate cuts to bolster monetary policy support for the pandemic-ravaged economy.

“Looking ahead, the BSP will continue to monitor economic and financial developments to ensure that its primary mandate of price stability conducive to balanced and sustainable economic growth is achieved,” Diokno said on Tuesday.

In total, the Central Bank has already cut its rates by 200 basis points— by 25 basis points in February, 50 basis points in March, another 50 basis points in an off-schedule Monetary Board meeting in April, another 50-basis-point cut in June and the latest 25-basis-point cut just last month.

RCEP…

Inappropriate provisions

THE President has also stricken down parts of the 2021 GAA, which he considers inappropriate provisions inserted by Congress.

Among the programs affected by the veto are the technical skills training program of the Department of Trade and Industry (DTI); condonation of interests, penalties and surcharges of the Department of Agrarian Reform (DAR); public utility modernization program of the Department of Transportation (DOTr); and the forensic laboratory of the Public Attorney’s Office-Department of Justice (DOJ).

Duterte also removed the provision of the 2021 GAA which would have required the executive branch of the government to submit quarterly reports of the use of its intelligence funds to the offices of the House Speaker and the Senate President.

He stressed that intelligence funds cover programs, projects and activities related to national security, which he noted falls under executive privilege.

“Reports on the utilization of intelligence funds shall be directly submitted to my office,” Duterte said.

Last, the President also vetoed the provision which would have exempted the Department of Education (DepEd) and the Commission on Higher Education (CHED) from the cash budgeting system.

Under the scheme, government agencies should submit their budget proposals for specific fiscal year, which in the case of the 2021 GAA will be from January to December 2021.

Both DepEd and CHED, however, usually require funding within an academic year, which runs for one specific year to the next.

Duterte said both agencies should still strictly implement the cash budgeting scheme.

Continued from A1

In November, state leaders of Southeast Asian nations, along with Australia, China, Japan, New Zealand and South Korea, signed the trade deal that was negotiated for nearly a decade.

The RCEP is one of the world’s largest economic agreements covering at least 25 chapters on multilateral relations among its parties. It sets rules and regulations on trade in goods, services, investments, e-commerce, dispute settlement, rules of origin, among others, with the objective of opening up the economies of RCEP countries.

The 15 RCEP negotiators account for roughly 29 percent of world GDP, but it used to be 32 percent back when India was part of the negotiations.

India last year withdrew from the RCEP talks on hesitation to reduce its tariff rates as required by the trade deal.

The Nation BusinessMirror

www.businessmirror.com.ph

Editor: Vittorio V. Vitug • Wednesday-Thursday, December 30-31, 2020 A3

DOT records rising number of quarantine hotels violating terms of accreditation

By Ma. Stella F. Arnaldo

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@akosistellaBM Special to the BusinessMirror

GROWING number of quarantine hotels have been caught by the Department of Tourism (DOT) offering guest rooms to leisure tourists.

The latest violator is a hotel based in Clark, Pampanga, and part of a worldwide hospitality chain, according to an industry source. The violation was actually reported by a tourism leader who was on a staycation at the hotel.

“He noticed there were chairs being placed in front of the rooms that were beside him. That was where the food boxes of the guests were being placed, apparently. It was only then he realized he was booked in a quarantine hotel,” said the industry source. It was the tourism leader who reported the matter to the DOT. Tourism Secretary Bernadette Romulo Puyat confirmed receiving the said report on the hotel violation, and assured the BusinessMir-

ror “they have been issued a ‘notice to explain’ already.”

She disclosed more quarantine hotels have already been found violating the agency’s rules on not mixing quarantine guests and staycation guests. “There are a lot of violators,” said the DOT chief, “we have already sent them warnings.” She declined to name the quarantine hotels that have “brazenly admitted guests for leisure purposes.”

In the case of one hotel, for instance, Romulo Puyat said she learned about the violation “by accident.”

Someone texted me saying he is supporting tourism by staycationing.

When I asked what hotel, it was a quarantine hotel.

As such, she warned DOT-accred-

ited hotels currently used as quarantine hotels to refrain from accepting guests for staycation purposes.

In a news statement, the tourism chief said, “This is not acceptable and should not be tolerated. Our guidelines explicitly prohibit the use of quarantine hotels for staycation purposes and vice-versa. We call on owners and operators of these accommodation establishments to be more vigilant and strict about these protocols. We all are hard at work setting the environment to restore businesses and bring back job and livelihood opportunities to benefit our people who rely on tourism.”

Quarantine hotels are likewise barred from operating their ancillary establishments such as spas, bars, gym and the like. First-time offenders will be issued a stern warning and/or penalized not less than P1,000, but not more than P10,000, based on the gravity of the offense.

Second-time offenders will be suspended from operating from three months to a year and/or meted a fine of P10,000, but not more than P20,000, based on the gravity of the offense. On the third offense, the accreditation of these hotels will be revoked or canceled and/or meted a fine P20,000, but not more than

P100,000, based on the gravity of the offense.

“Let us not be remiss in our obligations as service provider. We will weather this crisis and welcome the time when normalcy returns,” said Romulo Puyat. “Meanwhile, we appeal to all DOT-accredited AEs to strictly adhere to the rules and regulations of your assigned operation, whether as quarantine facility or staycation establishment. We owe our guests and workers’ safety to your continued cooperation,” she stressed.

As of December 17, 2020, 15 hotels in the National Capital Region have been issued certificates of authority to operate as a staycation establishment. These are: Grand Hyatt Hotel; Makati Shangri-La; Okada Manila; Shangri-La at the Fort; Joy Nostalg Hotel and Suites Manila; Edsa Shangri-La Manila; Solaire Resort and Casino; hotels at the City of Dreams (Hyatt Regency, Nuwa Hotel, Nobu Hotel); The Peninsula Manila; Aruga by Rockwell; Sheraton Manila; Hilton Manila; and Hotel Okura Manila.

Hotels outside the NCR with at least three-star rating have also been allowed to offer staycations, but the DOT failed to name them.

DENR eyes farming of ‘wood of the gods’ to avert possible extinction of local species

By Jonathan L. Mayuga @jonlmayuga

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HE Department of Environment and Natural Resources (DENR) is eyeing to promote backyard farming of agarwood, also known as the “wood of the gods,” as a conservation measure and to save the species from rampant harvesting in the wild.

To help save the species from extinction, DENR Assistant Secretary Ricardo Calderon, concurrent director of the DENR’s Biodiversity Management Bureau (BMB) told the BusinessMirror they are looking at allowing its propagation through backyard farming.

“We are looking at promoting farming of agarwood to save the

species,” Calderon said.

The strategy is used in saving wild plant species with high commercial value, like orchids. This is the same principle behind the wildlife farming now being promoted for critically endangered species.

In the Philippines, the DENR promotes crocodile farming for their skin, meat and other byproducts, to help save the saltwater reptile species from extinction.

“Just like crocodile farming, we are looking at farming agarwood. [DENR] Secretary [Roy A.] Cimatu is open to this idea,” Calderon said, adding that a draft administrative order will allow interested parties to venture into agarwood farming in the future once the policy is put in place.

Calderon, a forestry expert said, science and technology will be a big factor in making agarwood farming work.

He said friendly bacteria and virus applied to a fissure or wound it obtains in the wild can be imitated, hence, producing the same aromatic scent it exudes that make it very much in demand.

“We are waiting for the secretary’s approval for this,” he said.

Authorities have been successful in intercepting shipments of agarwood in the past several months. However, this does not effectively prevent the species’ possible extinction.

By allowing agarwood farming, Calderon said there will be a legal source of the wood, hence, buyers, as well as sellers, would not have to

risk being caught for involvement in the illegal wildlife trade.

Until the supply for agarwood becomes readily available and accessible from backyard agarwood farms, or even plantation, Calderon said there will always be enterprising middlemen who will look for supply and there will be enterprising Filipinos who will go to the forest to harvest agarwood hoping to cash in from the venture.

Just recently, the Bureau of Customs confiscated 73 kilos of agarwood, with an estimated total value of P62 million at the Port of Davao on December 24.

The seized agarwood is scheduled to be flown to Vietnam via the Ninoy Aquino International Airport in Manila.

Cavite mayor vows free vaccination to jeepney, trike drivers

DIRECTOR Lionel Dalope, (fourth from right), Cavite Interior and Local government head, awards two plaques to General Trias City Mayor Antonio Ferrer (second from left) as Best LGU in the conduct of contact tracing in the province, as a proof of diligence in work and commendable performance in protection it citizenry to prevent the spread of coronavirus. PHOTO COURTESY OF DENNIS ABRINA

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ENERAL TRIAS CITY, Cavite— The local government unit here has vowed to include jeepney and tricycle drivers in its free Covid-19 vaccination program.

“The city government plans to buy the vaccine kung hindi kayo i-consider as frontliners. We, the local government unit will provide to around 4,000 members of jeepney and tricycle driv-

ers for them to continue transporting passengers.” Mayor Antonio Ferrer assured during a meeting with 30 leaders of Jeepney Operators and Drivers Association and Tricycle Operators and Drivers Association of the locality held at Jollibee GenTri Bayan function room at Barangay Bagumbayan on Monday, December 28, 2020.

“Paramakalabasagad,paramakapasada

agad, hindi po kayo kayang sustentuhan ng pamahalaang lokal. Ang priority po natin ay kumita ang bawat isa para mabuhay at para umusad ang ekonomiya,” Ferrer added.

Ferrer stressed that those 15 years old below and 65 years old and above should not be allowed to board publicutility vehicles to prevent the spread of the virus in the city and that passengers must be required to wear face masks and

shields upon boarding.

Rep. Luis Ferrer IV of the Lone District of General Trias said he is ready to cooperate in opening new access roads or streets to ease of traffic flow in the area and install decent jeepney and tricycle terminals in the city.

Department of the Interior and Local Government (DILG) Cavite provincial director Lionel Dalope, was also guest in the saidmeetingandpresentedsomeexplanations of the Covid situation in the country.

“Based on the study, there is new variant of Covid-19. ’Wag po tayo pakampante or relaxed sa panahon ngayon. Ugaliin po natin sumunod sa guidelines, hindi po solusyon ang puro reklamo,” Dalope said.

“Huwag po natin abusuhin ang luwag ng quarantine, as President Rodrigo Roa Duterte announced that Cavite will remain under modified general community quarantine [MGCQ] mode until January 31, 2020,” he added.

The DILG also bestowed to Gen. Trias City the Best LGU Award “in the conduct of contact tracing in the province as proof of diligence in work and commendable performance in the protection of the citizenry to prevent the spread of coronavirus and exemplary action to control the transmission of the virus, provide financial and material support to his local folks, a performance worthy of emulation and enviable adherence to the high standard of public service.” Dennis Abrina

Amid Covid-19, govt issues agri free patents

covering 20,144.98 hectares

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MID community lockdowns due to Covid-19, the Department of Environment and Natural Resources (DENR), through its Land Management Bureau (LMB), was able to issue a total of 30,456 agricultural free patents covering around 20,144.98 hectares in various parts of the country in 2020.

Environment Secretary Roy A. Cimatu said considering the travel restriction and work limitation challenges posed by Covid-19, the agency was able to score major accomplishments.

This accomplishment slightly topped its own target by 4.25 percent.

LMB Director Emelyne V. Talabis said the increase was due to December 31, 2020 deadline on the filing of applications pursuant to Republic Act 9176, as well as the increased use of the Land Administration Management System Philippines (LAMS), which fast-tracked the approval of land surveys.

At the same time, the regions also issued 56,265 residential free patents covering around 1,408.46 hectares across 16 regions in the country.

Such issuances of free patents, which include beneficiaries of the Handog Titulo Program, was in support of President Duterte’s socioeconomic agenda of ensuring security of land tenure to encourage investments and to address bottlenecks in land management and titling agencies.

Modernization initiatives of LAMS, such as the migration of land records in the LAMS database, pilot testing of the submission of e-survey returns and online access to survey records, digital cadastral database cleansing, and projection of Certificate of Ancestral Domain Title or Certificate of Ancestral Land Title have been implemented in several cities and regions across the country.

Meanwhile, in partnership with the Land Registration Authority (LRA), a joint memorandum circular has also been crafted to implement information sharing between LMB’s LAMS and LRA’s Philippine Land Registration and Information System, or PHILARIS. This will link the land information database managed by both agencies and significantly reduce turnaround time in the processing of land transactions.

This year, the regional offices have also formulated the Foreshore Management and Development Plans for the provinces of La Union, Camarines Sur, Leyte, Eastern Samar, Camiguin and Davao Oriental, and the city of Iloilo.

Each plan contains a broad analysis of the conditions and issues covering foreshore lands, as well as recommendations on the appropriate foreshore management scheme to be adopted for each of the said provinces and city.

Upon the recommendation of LMB and DENR-Region 13, Secretary Cimatu, through the Undersecretary for Field Operations, Enforcement and Muslim Affairs Jim Sampulna lifted the titling suspension in Siargao on November 18, 2019. This year, the suspension was lifted in South Cotabato and Sarangani on January 29, Panglao, Bohol on February 28, and Palawan on March 2.

Rapid Land Tenure Assessment (RLTA) was also conducted by the regional offices in support of a planned nationwide acceleration of titling.

RLTA is a barangay profiling activity designed to determine how much titling work is still needed to be done in a local government unit.

The LMB also intensified public awareness on Alternative Dispute Resolution (ADR) Mechanism through the conduct of “ADR on Wheels” in selected cities, as well as its online talk show “Talakayang Panlupa” to encourage parties to settle disputes amicably.

“The resilience that we have developed because of the pandemic all the more drives us to continue to work on our commitment to provide policy direction and technical support on land management and administration for 2021,” said Talabis. Jonathan L. Mayuga

Economy

A4 Wednesday-Thursday, December 30-31, 2020 • Editor: Vittorio V. Vitug

BusinessMirror

Meat imports may reach new all-time high this year–BAI

By Jasper Emmanuel Y. Arcalas @jearcalas

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HE country’s total meat imports this year is poised to set a new all-time high as January-to-November figures are some 20,000 metric tons away from surpassing the 844,971.338 MT volume recorded last year.

Latest Bureau of Animal Industry (BAI) data showed that meat imports during the 11-month period rose by 6 percent to 825,152.081 MT from 779,087.238 MT recorded in the same period of last year.

The 11-month figure is 19,819.257 MT away from matching the country’s record-high import volume of 844,971.338 MT that was recorded in 2019, historical BAI data showed.

BAI data showed that imports of all meat products except pork, which has

been in a downward trend since African swine fever (ASF) wreaked havoc in the global market last year, expanding during the reference period.

The growth in imports of beef, chicken meat, buffalo meat, duck meat, lamb meat and turkey meat were more than enough to offset the 27.15-percent annual decline in pork imports, which is about a third of overall meat imports.

Last month, Meat Importers and Traders Association President Jesus C. Cham told the BusinessMirror that the country “could relatively larger imports this calendar year but weak imports in the first half next year.” (Related story here: https://businessmirror.com. ph/2020/11/30/meat-importsseen-surpassing-2019-record/) BAI data showed that chicken meat imports, which accounts for

45 percent of total volume, rose by nearly 23 percent to 374,040.136 MT from 304,242.307 MT last year.

BAI data also indicated that imports of chicken mechanically deboned meat (MDM), a raw material used for making processed meat products, grew by 26.36 percent to 253,690.978 MT from last year’s 200,763.979 MT. The country’s imports of chicken cuts grew 44.53 percent to 36,515.467 MT, while purchases of chicken leg quarters from abroad grew by 8 percent to 73,566.685 MT. Cham earlier said the increase in chicken imports could be attributed to stronger consumer appetite for processed meat coupled by lower prices for chicken cuts and leg quarters.

He added that meat processors could also be importing more

MDM of chicken as they are hedging against the possibility that tariff on these products will increase next year.

BAI data also indicated that beef imports rose by 43.91 percent to 183,958.514 MT from last year’s 127,820.639 MT. Shipments of beef cuts grew by 36.70 percent while beef fats rose by 45.83 percent on an annual basis. Likewise, imports of beef choice cuts more than doubled during the 11-month period.

The country’s 11-month imports of beef cuts were at 107,052.364 MT while choice cuts and beef fats reached 30,055.188 MT and 32,530.001 MT, respectively.

Pork imports during the 11-month period declined by 27.16 percent to 231,140.248 MT from last year’s 317,323.606 MT, based on BAI data.

www.businessmirror.com.ph

Long weekend offers double pay for private sector workers

By Samuel P. Medenilla @sam_medenilla

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ORKERS in the private sector will be getting an additional pay during the upcoming long weekend.

The Department of Labor and Employment (DOLE) said employees, who will report for work during Rizal Day (December 30, 2020) and New Year’s Day (January 1, 2021) will be entitled to twice their regular pay.

“For work done during the regular holiday, the employees shall be paid a total 200 percent of his/her wage for that day for the first eight hours,” Labor Secretary Silvestre H. Bello III said in his Labor Advisories 32 and 34, Series of 2020.

This after President Duterte declared both days as regular holidays.

The said employees will be entitled to another 30 percent of their hourly rate on the said

holiday if they will work over time, and another 30 percent of their basic wage if the event coincides with their rest day.

“If the employee did not work [during a regular holiday], he/ she shall be paid 100 percent of his/her wage for that day, subject to certain requirements under the implementing rules and regulations of the Labor Code, as amended,” Bello said.

Meanwhile, a “no work, no pay” scheme will take effect on December 31, 2020 (last day of the year), which was declared by the President as a special nonworking holiday.

Employees, who will be on duty on the said day will be paid an additional 30 percent of their basic pay.

For those who will work in excess of eight hours, they will get 30 percent of their hourly rate on the said day and an additional 50 percent of their basic pay, if the holiday falls on their day off.

DHSUD copes with pandemic, birth pains, Opening of new Subic expressway lanes seen easing holiday traffic builds 113K housing units in maiden year

By Henry Empeño | Correspondent

By Elijah Felice E. Rosales

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@alyasjah

HE Department of Human Settlements and Urban Development (DHSUD) has built more than 113,000 housing units throughout the country during the pandemic year.

In a news statement issued on Tuesday, DHSUD Secretary Eduardo D. del Rosario said his agency on its first year as a government body produced and funded a total of 113,412 houses nationwide. The production of the units were made through its four shelter agencies, National Housing Authority (NHA), Pag-IBIG Fund, Social Housing Finance Corp. (SHFC) and the National Home Mortgage Finance Corp. (NHMFC).

Broken down, Pag-IBIG Fund financed 75,582 units, NHA accounted for 24,139 units, SHFC bankrolled 13,256 units and NHMFC put up funded 435 units.

Likewise, del Rosario said his agency enforced measures to assist the general public, especially the poor, to cope with the impact of the extended lockdowns triggered by the health crisis. At the height of the enhanced community quarantine in Luzon, he ordered a three month moratorium on monthly amortizations on housing and loan payments.

Apart from this, the housing agency implemented another 60-day moratorium under Bayanihan 2, and some 5.5 million people all in all, most of whom are Pag-IBIG members, benefited from the payment deferrals.

Further, del Rosario spoke with private developers to extend the grace period for home buyers under their in house financing program.

“Despite some birth pains and Covid-19, the department managed to pursue its mandate of providing decent and affordable housing for the underprivileged, especially the informal settler families,” del Rosario said in the same statement.

“At DHSUD, we don’t just build houses, we developed resilient and sustainable communities guided by our principle that shelter is a right, home ownership is an option and it is our responsibility in the Housing sector to capacitate and provide opportunities to all Filipinos realize their dream of owning a house of their own,” he added.

To mitigate the job losses in the pandemic, del Rosario also called for the resumption of construction works in the real estate last June that resulted in the return to site for over 55,000 workers.

This is the first full year of operation for the DHSUD, a department created under Republic Act 11201 signed in 2019 by President Duterte.

S

UBIC BAY FREEPORT—The temporary opening of the new lanes at the Subic Freeport Expressway (SFEX) will be greatly ease heavier-than-normal movement of people and goods at the Subic Bay Freeport before and after the New Year festivities.

Subic Bay Metropolitan Authority (SBMA) Chairman and Administrator Wilma T. Eisma said the Subic agency is expecting more people to visit or pass through Subic for the holidays, at the same time that business locators transport more products in and out of the free port.

“The opening of the new lanes, albeit temporarily, is very timely,” Eisma said on Monday after Public Works Secretary Mark A. Villar led the ceremonial opening of the new SFEX lanes.

“It will ease the movement of people and goods in the Subic Bay Freeport and further develop Subic’s business and tourism prospects,” she added.

Eisma also said the SBMA had opened the Subic Freeport to tourists during the holidays subject to strict health safety protocols, and that tourist volume had increased dramatically to almost the current 50 percent full capacity.

She added that the Subic agency had allowed children to come into the free port as long as they stay in open areas or alfresco restaurants and not in malls and other closed spaces.

“There are lots of people coming in and Subic is very much excited, in a way,” Eisma said.

Villar, along with Eisma and Nlex Corp. President and General Manager J. Luigi Bautista, graced the ceremonial drive-through at the new 8.2-kilometer expressway lanes to mark the temporary opening on Monday. The

PUBLIC Works Secretary Mark Villar (center), flanked by SBMA Chairman and Administrator Wilma T. Eisma and Nlex Corp. President and General Manager J. Luigi Bautista, walks along the new lanes of the Subic Freeport Expressway past the new tunnel during the soft opening of the expanded expressway on Monday.

new lanes will be open temporarily until January 15, after which more construction activities will resume.

During the expressway drivethrough, Villar expressed satisfaction at the expansion project and said the new SFEX is already 92 percent complete, with the remaining portion being the construction of the Jadjad Bridge.

Villar said the P1.6-billion SFEX Capacity Expansion Project is expected to be fully completed in the

first quarter of next year.

It entails the conversion of the Subic Freeport Expressway into a 2x2 divided expressway, with additional two lanes, two new bridges and a tunnel, as well as the installation of expressway-standard LED lights, raising the elevation of Maritan HighwayRizal Highway-Tipo Road junction, and the enhancement of drainage systems for better flood management in the area.

Villar also noted that the project

will enhance accessibility and promote travel efficiency along this key road that connects Bataan and Zambales, as well as boost Subic’s competitiveness as an ideal shipping gateway for Central and North Luzon.

The SFEX, which is operated by Nlex Corp., a toll road subsidiary of Metro Pacific Tollways Corp., connects the Subic Bay Freeport to the 94-kilometer Subic-Clark-Tarlac Expressway, which further links with the TarlacPangasinan-La Union Expressway.

Leyte power cooperative upbeat of franchise renewal

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ACLOBAN CITY—An electric cooperative in Leyte is confident that their 50-year franchise renewal will be approved by lawmakers.

Don Orestes Romualdez Electric Cooperative (Dorelco) with franchise area in central Leyte said it is largely counting on the support of power sector party-lists in the House

of Representatives.

These party-lists are the Association of Philippine Electric Cooperative (Apec), Philippine Rural Electric Cooperative Association (PHILRECA), Rural Electric Consumer and Beneficiaries of Development and Advancement Inc. (RECOBODA), and Cooperative NATCCO Network Party (COOP-NATCO).

“I think [Senator] Imee [Marcos] cannot say no because Dorelco is a project of his father and the cooperative carries the name of his grandfather. Leyte province is in the heart of the Marcoses and Romualdezes,” Allan Laniba, general manager of the Leyte III Electric Cooperative Inc. (LEYECO III) said at a news briefing on Tuesday.

In 2018, the National Electrification Administration

(NEA) has asked electric cooperatives to file their application for the renewal of distribution franchise at least five years before the expiration considering the lengthy congressional hearings, deliberations, and several requirements.

The power distributor is named after the donor of the land in Tolosa, Leyte where Dorelco is headquartered. Dorelco’s 50-year franchise will expire in 2027.

Among the documentary requirements are a copy of the House Bill for renewal or extension of franchise and index service, copy of the existing franchise law, executive summary of the historical accounts, certificate of good st a nd ing f rom t he concer ned regulatory agency, certified true copy of the audited financial statements, Bureau of Internal Revenue

tax clearance, and soft copies of documentary requirements.

Dorelco was established on June 21, 1971, through the declaration of Presidential Decree 269, as Leyte Electric Cooperative Inc. (LECI) financed by a long-term loan of P28 million to the government through NEA by the United States Agency for International Development (USAID). Their first franchise was approved in 1977.

T he cooperative’s franchise area is 164,426 hectares bounded by the Pacific Ocean on the eastern part and the mountainous range of the coverage area lies the towns of Burauen, Dagami, and Lapaz on the western part and the towns of Abuyog, Javier, and Mahaplag on the southern portion and the town of Tanauan on the northern side. PNA

News BusinessMirror

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Wednesday-Thursday, December 30-31, 2020 A5

Mayor orders fireworks ban in Pasay City

By Claudeth Mocon-Ciriaco Correspondent

T

O prevent injuries and casualties, the Pasay City government has imposed a total ban on fireworks during the traditional New Year’s Eve revelry.

Mayor Emi Calixto-Rubiano said the ban is in line with President Duterte’s Executive Order 28, which regulates and controls the use of firecrackers and in accordance with a resolution from the National Capital Region Peace and Order Council, which recom-

mended the banning of the use of firecrackers in Metro Manila.

The Philippine National Police also affirmed that it will not issue special permits for community fireworks display to discourage mass gatherings as a measure against the spread of Covid-19.

DPWH completes flood control infrastructure project in Pampanga

By Lorenz S. Marasigan @lorenzmarasigan

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HE Department of Public Wo r k s a n d H i g h w a y s (DPWH) has completed the construction of a flood control structure in Pampanga.

Public Works Secretary Mark A. Villar said the newly completed slope protection structure along Abacan River in Angeles City, Pampanga will help “protect lives and properties against flooding.”

“This newly constructed project is aimed to provide stability and protect ion aga i nst l a nd sl ide and flooding especially such as the most recent typhoons that caused overflowing of the water tributaries in Pampanga,” he said.

T he proje c t i nvolve s t he construction a 465-meter slope protection t hat w i l l prevent scouring along the riverbank that damages crops and properties on

the low-lying plains of Barangays Pandan and Capaya in Angeles City.

Funded by the 2020 appropriations, the P49-million project included the use of steel sheet pile foundation to prevent river obstruction from landslide,

rockslides, and flooding.

“By constructing flood control structures like this all over the country, we hope to protect lives and mitigate damage to properties, so we can focus on economic development,” Villar said.

C a l i x t o - R u b i a no s a id t he local government unit will not issue any special permit “pursuant to the authority provided under Executive Order 28, Series of 2017.”

She instructed the local police as well as barangay officials, the Pasay

B

dents in 264 barangays. The initiative was made possible with the help of San Miguel Corp. and carried out under the leadership of AAMBIS-OWA Party-list Rep. Sharon Garin and Vice Governor Christine “Tingting” Garin.

Rep. Garin, who has primarily pushed for legislation geared toward a more resilient economy, maintained that supporting small businesses, particularly those in far-flung areas, is crucial to helping the country’s gears up and running as

T

HE Social Security System’s (SSS) new contribution schedule is set to take effect on January 2021 pursuant to Republic Act 11199, or the Social Security Act of 2018.

Based on SSS Circulars 2020-033-b, 034-b, 035-b, 036, and 039 signed by SSS President and CEO Aurora C. Ignacio, the contribution rate will be 13 percent, 1 percent higher than the current rate.

For employed members, including overseas Filipino workers (OFW) members in countries with Bilateral Labor Agreements (BLAs) with the Philippines, and sea-based OFW members, the additional 1 percent will be divided equally between them and their employers, bringing the contribution rate breakdown to 8.5 percent for their employers and 4.5 percent for them.

To cite an example, those who will be paying under the P10,000 monthly salary credit (MSC) starting next year will pay a monthly contribution of P1,300, which is P100 higher than the P1,200 in 2020.

Suppose the member is employed, an OFW in a country with a BLA with the Philippines or a sea-based OFW.

the new year opens.

Echoing Bangko Sentral ng Pilipinas Gov. Benjamin Diokno’s call, Rep. Garin maintained that MSMEs are indispensable in galvanizing local economies.

The distribution of food packs began last December 23, 2020 and is still ongoing. According to Rep. Garin, more areas of distribution in the Province of Iloilo are still being eyed. “We want to make sure that no one gets left behind during this holiday season,” she said.

Depositors of San Francisco del Monte Rural Bank, given until Jan. 8 to file deposit insurance claims

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HE Philippine Deposit Insurance Corp. (PDIC) announced that depositors of the shuttered San Francisco del Monte Rural Bank Inc. have until January 8, 2021 to file their deposit insurance claims.

Based on latest PDIC data, deposit insurance claims for 70 deposit accounts with aggregate insured deposits amounting to P1.7 million have yet to be filed by depositors. Data also showed that as of October 31, 2020, PDIC had paid depositors of the bank the total amount of P265.0 million, corresponding to 99.4 percent of the bank’s total insured deposits amounting to P266.7 million.

Depositors are advised to file their claims either online via electronic mail (e-mail) at pad@pdic.gov.ph or through postal mail or courier addressed to the PDIC Public Assistance Department, 3rd Floor, SSS Building, 6782 Ayala Avenue corner V.A. Rufino Street, Makati City 1226. Claims may also be filed personally at the PDIC’s Public Assistance Center in Makati City on a per appointment basis. To make an appointment, depositors may call the Public Assistance Hotline at (02) 8841-4141 or at Toll Free number 1-800-1888-7342 or 1-800-1-888-PDIC, send an email to pad@pdic.gov.ph, or send a private message at PDIC’s official Facebook page, www.facebook.com/OfficialPDIC. When filing claims through e-mail, scanned copies or photo images of the signed and accomplished Claim Form, evidence of deposit (i.e., savings passbook, certificate of time deposit, etc.), and one valid photobearing ID with the depositor’s signature should be attached to the e-mail.

Scanned copy or photo image of the first and last page of the passbook, or the front and back portion of the certificate of time deposit should be sent as e-mail attachments. For claims filed personally or via postal mail or courier service, depositors are advised to enclose the accomplished and signed Claim Form, original Savings Passbook and/or Certificate of Time Deposit and photocopy of one valid photo-bearing ID with depositor’s signature. The depositors are further advised that additional documents and/ or original copy of documents submitted via e-mail may be required by PDIC, as necessary, in the course of evaluation and processing of claims. The Claim Form can be downloaded from the PDIC web site http://www.pdic.gov.ph/files/ New_PDIC_Claim_Form.pdf. The Claim Form is free and there is no fee for filing deposit insurance claims.

Depositors who are below 18 years old should mail or submit either a photocopy of their Birth Certificate issued by the Philippine Statistics Authority (PSA) or a duly certified copy issued by the Local Civil Registrar.

Representatives of claimants are required to mail or submit an original copy of a notarized Special Power of Attorney of the depositor or parent of a minor depositor. The Special Power of Attorney template may be downloaded from the PDIC web site. The last day for filing deposit insurance claims was moved to January 8, 2021 from November 9, 2020 to allow the depositors more time to prepare the required

Republic Act 11332, which penalizes non-cooperation of person or entities affected by a health event of public concern; and/or Article 151 of the Revised Penal Code [Resistance and Disobedience to a Person In Authority],” she said.

SSS’s Ignacio bares circulars on new contribution schedule

200 Iloilo small bakers get assistance from SMC, local leaders for the holidays

ORNE out of the need to help micro, small and medium enterprises (MSMEs), in remote areas regain business confidence, around 200 small-time bakers in the municipalities of Guimbal, San Joaquin, Tigbauan, Tubungan, and Igbaras in the Province of Iloilo received a muchneeded boost to help them earn a little more during the holiday season.

Food packs containing essential baking goods, such as margarine, butter, and cheese were distributed among resi-

Public Order and Safety Unit, and the Pasay City Environment and Natural Environment Office to strictly enforce the ban.

“Persons that violate this order may be arrested and charged under existing sangguniang ordinances; and/or Section 9 of

documents before filing their claims, and to ensure that affected depositors are not disenfranchised because of the enhanced community quarantine.

Under the PDIC Charter, depositors are given two years from bank takeover to file deposit insurance claims with the PDIC. San Francisco del Monte Rural Bank Inc. was taken over by the PDIC on November 9, 2018 after it was ordered closed by the Monetary Board of the Bangko Sentral ng Pilipinas on November 8, 2018.

Depositors who will not be able to file their deposit insurance claims with PDIC on or before January 8, 2021 may file a claim against the assets of the bank with the Regional Trial Court-Branch 90, Quezon City, where the Petition for Assistance in the Liquidation (PAL) of San Francisco del Monte Rural Bank Inc. is pending under Sp. Proclamation R-QZN-19-10321CV. Payment of these claims shall be subject to availability of assets of the closed bank, legal priority and approval of the Liquidation Court. Depositors who have outstanding loans or payables to the bank will be referred to the duly designated Loans Officer prior to the settlement of their deposit insurance claims.

For more information, depositors may call the PDIC Public Assistance Hotline at (02) 8841-41-41, or the Toll-free hotline 1-800-1-888-PDIC or 1-800-1-888-7342 during office hours. Depositors may also send an e-mail to the PDIC Public Assistance Department at pad@pdic.gov.ph or private message at the official PDIC Facebook page, www.facebook.com/OfficialPDIC.

In that case, the P100 additional contribution will be divided as P50 from their employers for a total employer share of P850 and P50 from them for a total member share of P450.

Minimum and maximum MSCs ALSO pursuant to the Social Security Act of 2018, the minimum MSC will be adjusted to P3,000 from P2,000, except for Kasambahay and OFW members whose minimum MSC will remain at P1,000 and P8,000, respectively, while the maximum MSC will be raised to P25,000 from P20,000.

The MSC to be considered for the computation of benefits under the regular social security program is capped at P20,000. However, contributions pertaining to the MSC in excess of P20,000 will go to the Workers’ Investment and Savings Program (WISP), a provident fund that will yield additional pension income for members contributing under it. ���������������������������������� For example, a member will be paying under the P25,000 MSC. Based on the 13-percent contribution rate that would begin in January 2021, his/her

monthly contribution will be P3,250, of which P2,600 will go to the regular social security fund, while the remaining P650 will go to the WISP. “We understand the plight of our covered employers and members, but it is our duty to ensure the longevity of the SSS fund entrusted to us, to allow the continuous delivery of meaningful social security protection to our current and future members, as well as their beneficiaries,” Ignacio said.

The said reforms under the Social Security Act of 2018 aims to ensure the long-term viability of the SSS and provide higher benefits for SSS members and their beneficiaries.

Moreover, upon full implementation in 2025, these reforms will offset the adverse financial impact of the P1,000 pension increase granted in 2017.

“We hope that members see their contributions as their safety net and savings, which they and their beneficiaries can turn to in times of sickness, maternity, unemployment, retirement, disability, death, calamity, and other contingencies, through the benefit programs and privileges the SSS offers,” Ignacio added.

TheBroa Family, faith fortify Filipinos

Business

A6 Wednesday-Thursday, December 30-31, 2020 • www.businessmirror.com.ph

By Cai U. Ordinario

A

caiordinario

VIRUS the size of a droplet is nearly breaking economies around the world; it made a mother’s world fall apart when three of her loved ones were infected.

The husband of Arlene (not her real name) was diagnosed in September when a routine company check, after another employee tested positive, confirmed the bad news.

During this time, Arlene was told her mother was also found positive for the virus.

As if fate taunted her, her 22-year-old son also got infected with Covid-19.

“Lahat yata ng santo sa langit tinawag ko na maka-survive lang sila,” Arlene said. “Sabi ko, ako na lang, ‘wag na lang sila, akin na lang.

Bigay niyo na lang sakin lahat, ‘wag lang sila. Nagmakaawa ako na please lang ibigay niyo na lang sakin (ang sakit).” [I called on all the saints in heaven just so my family will survive. I prayed they give me the virus instead and spare my family. I pleaded to just make me sick instead of my family.]

Battling Covid

ARLENE, a mother of two, said while her husband was asymptomatic, he remained in quarantine until November, away from his family and without earning a single cent during his confinement.

She received news of her mother’s condition afterward.

As a senior citizen who had weak health, her mother exhibited all the symptoms of Covid-19.

But Arlene and her family decided against admitting their mother to the hospital where she will battle the disease among other Covid-19 patients in a Covid wing.

To prevent her condition from getting worse, their mother fought the virus at home. She was monitored 24/7 by Arlene’s cousin, a nurse in Quezon City where her mother lived.

Soon after, Arlene learned her son, an employee in an Ortigasbased company, experienced the more severe case of Covid-19 than what his father and grandmother acquired.

He decided not to tell his mother about his condition.

It was mother’s instinct: Arlene knew something was wrong with her son.

Her son stopped visiting and neither called nor accepted video calls. She said her son gave several excuses to not to talk; even her daughter-in-law refused to take her calls.

It was only after her son survived Covid-19 that she learned of the extent of his ordeal. The disease not only made breathing difficult but it also affected his kidney.

Escape ruin

COVID-19’s first victim in the family was Arlene herself.

During the lockdown imposed by the government to contain the spread of the pandemic in the early part of the year, her company decided to downsize and she was one who received the pink slip. This made her one of the millions of jobless Filipinos this year.

In her most desperate hour, she had to send her youngest to the house of a relative so that the child could eat.

With her source of livelihood gone, her husband in a quarantine facility, her mother also battling Covid-19 and her son recovering from the virus that almost killed him, Arlene’s anxiety worsened and she became depressed. The discrimination and the swirling gossip around her and her family’s misfortunes were unparalleled.

On top of that, no help from the government came. The paper from the Department of Social Welfare and Development (DSWD) that made her eligible to receive help from the state did not turn into a golden ticket that would allow her family to escape financial ruin.

Those in their community who also needed assistance waited and are still waiting for help that could save them from hunger and from begging in the streets.

Horrible year

SUFFICE it to say that 2020 is, indeed, a bad year.

There may be millions more like Arlene in the Philippines who had to suffer the brunt of the pandemic and the lockdown imposed by the government to contain the virus.

The latter, however, also brought down economies to their knees, made millions jobless, and more people sinking deeper into poverty.

Socioeconomic Planning Secretary Karl Kendrick T. Chua admitted that this year has not been easy for the Philippines, as in other countries around the world. The Philippines, he said, had to prioritize saving lives, which prompted the government to restrict economic activity.

The same economic restrictions have caused the domestic and global economies to experience the worst recession since the second World War in the 1940s.

This, nongovernment organization Ibon Foundation Inc. said, is the one that has made this year’s recession a unique one.

In an analysis, Ibon recorded a total of 14 global recessions “in the age of imperialism” and that 10 of these worldwide recessions were mainly due to crises that occurred due to “uncontainable economic pressures or imbalances erupting in the system and disturbing economic activity.” Ibon said the recessions in 1876, 1885, 1893, 1908, 1930-32, 1938, 1975, 1982, 1991 and 2009 occurred because of “overproduction-driven internal imbalances such as overinvestment or un-payable debt.”

At a standstill

IN the Philippines, the country faced a debt crisis in the early 1980s which caused growth to plunge by over 10 percent, which was nothing compared to the 16.5 percent contraction the economy registered in the second quarter of the year. Even the 11.5-percent decline in the third quarter was still worse than the performance of the gross domestic product (GDP) during the debt crisis years.

However, 2020 was different.

The crisis stemmed from an enemy that cannot be seen a virus.

As early as the end of 2019, reports from Wuhan, China stated that an

unknown virus has spread and is killing Chinese citizens. By January 2020, Wuhan, a major industry and logistics hub, was placed on lockdown.

Toward the end of January, the BusinessMirror talked to economists who said the virus would likely lead to disruptions in the tourism and manufacturing sectors despite the government downplaying the impact of the health scare on the Philippine economy (See ‘Virus may disrupt PHL tourism, manufacturing here: https:// businessmirror.com. ph/2020/01/28/virus-may-disrupt-phl-tourism-manufacturing/). But the economists were right and the virus, which also led to lockdowns in the country, had far-reaching effects, placing the entire economy practically at a standstill.

PSA data

THE National Economic and Development Authority (Neda) estimated that a total of 4.5 million Filipinos were rendered jobless this year. This after the Philippine Statistics Authority (PSA) reported that 3.81 million Filipinos were unemployed last October.

In July, there were 4.57 million unemployed and in April, the PSA reported there were 7.23 million Filipinos without work.

The loss of jobs has severely affected the country’s consumption which remains, to this day, the primary growth driver of the economy. Household final consumption expenditure (HFCE) contracted 9.3 percent in the third quarter after posting a decline of 15.3 percent in the second quarter.

HFCE growth in the first quarter was flat at only 0.2 percent.

Based on PSA data, even rich Filipinos or those who have the means, are holding on to their cash as indicated by the steep decline in spending for valuables which includes heirloom jewelry, antiques, and other similar luxury items. Data showed the consumption of these valuables contracted 53.2 percent in the third quarter.

PSA data showed even government spending weakened this year. The weakness in government spending was pronounced in the third quarter when it grew only 5.8 percent, the slowest in 14 quarters.

In the second quarter, government final consumption expenditure (GFCE) grew 21.8 percent and in the first quarter, 7 percent.

Poorer still

APART from GDP, it is estimated that more Filipinos will become poorer because of the pandemic and the state measures to try to contain it.

Poverty incidence, the World Bank said, is expected to increase to 22.6 percent this year from 20.5 percent in 2019. This is based on the $3.2 a day poverty line for lower middle-income countries like the Philippines.

The World Bank said a large share of breadwinners remained jobless even after the government started easing community quarantines (CQ). The report stated that sectors which lost the most jobs include construction at 31.3 percent; food services and accommodation, 25.6 percent; and trade, 25.4 percent.

“This year brought enormous challenges, not just to the Philippines, but also to all economies around the world,” Chua said in a recent briefing. “This has not been an easy year but in every crisis, there is also an opportunity to move our country forward.”

A woman wearing a protective mask to prevent the spread of the coronavirus checks Christmas lanterns that are being sold along a street in Manila, Philippines on December 14. Many Filipinos adorn their homes with Christmas decorations as one of the most important holidays in this predominantly Roman Catholic nation approaches amid government restrictions to curb the spread of Covid-19. AP/Aaron Favila

Yearning for more

WITH such an immense health crisis, which led to an economic fallout, the Associate Director of the John J. Carroll Institute on Church and Social Issues at the Ateneo de Manila University, Anna Marie A. Karaos, said that the pandemic has highlighted problems in the country’s social protection system, weak healthcare system and lack of adequate housing facilities.

Karaos told the BusinessMirror via email a good social protection system is anchored on a comprehensive and reliable database.

She said the National Household Targeting System being used for the “Pantawid ng Pamilyang Pilipino” program, or 4Ps, is inadequate and outdated. She added that Filipinos deserve a better system to bring help especially to the poor and vulnerable.

Further, Karaos said, the low quality of primary healthcare systems and the poor’s lack of access to these services have made it difficult to control the spread of Covid-19, particularly among Informal Settler Families (ISFs).

This is compounded by the fact that many of these ISFs are living in cramped houses that prevent them from practicing social distancing.

Single-detached homes

UNDERSECRETARY and Popcom Executive Director Juan Antonio A. Perez III earlier said one major example is housing.

The PSA data showed 3.785 million Filipinos (27.2 percent of the country’s 13.867 million population) who live in 812,584 housing

units that are under-20 square meters (sqm) each.

Perez has said that with an average number of 4.7 persons in each household, that leaves a living space of only 4.25 sqm per person, “making it nearly impossible to achieve physical distancing” during a pandemic. The Popcom Chief said the poorest in Metro Manila estimated at 2.066 million or 14.9 percent of the megacity’s population live in single-detached homes that are less than 20-sqm.

Further, in an earlier email to BusinessMirror, Eduardo C. Tadem of the University of the Philippines Center for Integrative and Development Studies Program on Alternative Development (UPCIDS AltDev), said the country’s gini coefficient, a measure of inequality, likely increased this year given the increase in poverty and joblessness.

Tadem, UP-CIDS AltDev Convener, noted that 40 percent of the labor force has resorted to taking on part-time work while 30.7 percent Filipinos experienced hunger this year. Many micro-, small- and medium-scale industries have also decided to close.

Trickled aid

PROBLEMS of inequality also abound during the pandemic.

Mina Justo, an officer of the Alyansa ng mga Samahan sa Sitio Mendez, Baesa Homeowners Association Inc. (Asamba) said whatever aid they received from the government was insufficient.

The same rings true for citizens in far-flung areas, such as those belonging to the Ayta Mag-indi Community in Porac, Pampanga.

A boy wears a face mask as he sells bags in the shopping district of Divisoria, in Manila, Philippines on December 18. Many Filipinos flock to this area to buy cheaper goods as they prepare for Christmas holidays in this predominantly Roman Catholic nation amid government health restrictions to help curb the spread of the coronavirus. AP/Aaron Favila

The help extended to the aeta community was also not enough, they said.

The “ayuda” from the local government was only good for over 20 families. They had to divide the assistance so as many as 250 families could benefit. And out of 950 families that qualified for the Social Amelioration Program (SAP), only 417 received assistance from the government.

The insufficient help received is a common story among marginalized communities.

Apart from food and other basic needs, some 5,000 students in

aderLook

sMirror

Editor: Dennis D. Estopace • Wednesday-Thursday, December 30-31, 2020

A7

s against pandemic, perfidy wealth is only secondary to Filipino’s happiness and that family is the driving force behind the success of every Pinoy. Unlike westerners who are individualists, Filipinos are collectivists and this defines how they respond to challenges in life.

She also said this explains how even during difficult times, such as the current pandemic, Filipinos are able to cope. Family is a primary driving force as well as humor; hardships come and go but the ability of Filipinos to make light of their situation helps them survive their struggles, Martinez said.

“Our ‘happy pill’ is our family,” Martinez told the BusinessMirror. “In the context of the pandemic for instance, the family plays a crucial role on how we can navigate the challenges and the stressors. If the government will do any intervention, it should be directed into the family unit.

We always find our happy pill on whatever makes the family happy.”

Having jobs

first happiness index, the Filipino’s happiness comes from community participation and volunteer work; cultural activities; education; family; health; income and financial security; leisure and sports; religion and/or spiritual work; technological know-how; work; economy; environment; government; politics; friends; sex life; love life; food; peace and security; and others.

The initial findings of that index showed that family remains the primary source of Filipino’s happiness.

Yes to family

Lumad and Bakwit Schools were marginalized.

Rose Hayahay, a volunteer teacher in the Save Our Schools Network, said 178 Lumad schools are closed in Mindanao. Hayahay also said those students who are able to continue their schooling are challenged by the lack of internet and technology facilities as well as the means to purchase laptops.

A happy people

AMID all these challenges and despite economic difficu lties in the recent past, Filipinos are considered among the happiest

in Developing Asia. Based on the Asian Development Bank (ADB), the Philippines is part of the top 10 happiest among developing economies in the region.

In a thematic chapter of the A si a n De ve lopment O ut look (ADO), the ADB said Taipei, China, is the happiest economy followed

by Singapore, Uzbekistan, Thailand, Republic of Korea, Kazakhstan, Pakistan, the Philippines, Tajikistan and Hong Kong, China.

According to former National Statistical Coordination Board Secretary General Romulo A. Virola, who pioneered the country’s

UNIVERSITY of the Philippines Manila (UPM) Department of Behavioral Sciences (DBS) Assistant Professor Andrea B. Martinez told the BusinessMirror that placing family as the top source of happiness among Pinoys is basic for all Filipinos. Martinez said this is because it stems from something that is intrinsic in the Filipino value system, the sense of “kapwa” or shared identity.

“Economics is basic but you see how Filipinos are willing to go to great lengths to sacrifice economic welfare just for the sake of the family because family is central to us. Our happiness is defined for instance by how we make our family happy,” Martinez told the BusinessMirror. “ The same reason explains the OFWs [overseas Filipino workers] w i l l i ng ness to sac r i f ice themselves, ‘mapalayo sa pamilya,’ [far from family members] because they think that they have the responsibility to make their family happy.”

Martinez added that material

DE La Salle University Economist Maria Ella C. Oplas told the BusinessMirror that family needs come first and would often make Filipinos find ways to make them happy. Oplas said this has become evident in this pandemic when many Filipinos who lost their jobs turned to online selling or taking on odd jobs just to get by.

PSA data showed that in the third and second quarters, Filipinos who were self-employed without any paid employees accounted for nearly a third or 29.3 percent of employed workers. In the second quarter this was at 28.7 percent while in October 2019, this was only at 26.7 percent.

The need to take on any job this year, Oplas explained to this reporter, is not because Filipinos desire material wealth but because a job will enable them to support their family in this challenging year.

“During this pandemic, we do anything to preserve our family what determines our happiness by taking on any job possible. During this pandemic, we Filipinos are able to survive because we started to count our blessings. Our family is still alive,” Oplas told the BusinessMirror. “I think those who became depressed during the pandemic not because of economics but the fear that their family might not survive this pandemic.”

Empty promises

However, Philippine Institute of Development Studies (PIDS) Senior Research Fellow Jose Ramon G. Albert told the BusinessMirror that family can also be a source of difficulty for Filipinos.

This often happens when the term “resilience” is abused.

In some cases, Albert said, politicians manage to use Filipinos’ “resilience,” founded on Pinoy’s sense of family, for political gain.

Some politicians identify themselves as part of the “Filipino family” and this resonates with Filipinos, making them vote and believe in promises made by politicians no matter how empty these promises may be.

“What we need to build among Filipinos is analytical thinking that can help us harness family relations or cope with difficulties caused by family. This Christmas, we Filipinos again put the family in the spotlight with the imagery of Jesus as our baby, a divine baby but a baby nonetheless, with innocence that gives us hope for the future. Ultimately, that hope should be borne from actions that

will make us better persons tomorrow and that tomorrow starts today,” Albert said.

Albeit negative

THE Bangko Sentral ng Pilipinas (BSP) recently released the results of the fourth quarter Consumer Expectation Survey (CES) and the data “was less pessimistic” for the fourth quarter.

Based on the data, the overall confidence index (CI) increased to -47.9 percent from -54.5 percent in the third quarter of 2020.

The central bank explained that the improved outlook was due to expectations of availability of more jobs and permanent employment; additional and high income; effective government policies and programs such as the SAP and the “Plant, Plant, Plant” program; and, less community restrictions, reopening of businesses and end to the Covid-19 pandemic.

T he resu lts of t he su r vey showed that consumer sentiment was comparable to the less pessimistic outlook of consumers in Japan, South Korea, and Thailand for the last quarter of 2020.

“The improved CI, albeit remaining negative, indicates that the number of households with optimistic views increased, but was still lower than those with pessimistic views,” the BSP said.

Ateneo Center for Economic Research and Development (ACERD) Director Alvin P. Ang told the BusinessMirror that more needs to be done to ensure that consumers regain their confidence and for the economy to recover in the coming year.

Limited revenues

ANG said the government should “spend, spend, spend” and partner with the private sector to make more financing available, given the revenue generation limitations at this time.

From January to November, state revenues slid by 9.56 percent to P2.62 trillion from P2.89 trillion in the same period last year. Despite this, the BTr said this already exceeded the P2.52trillion revised full-year target by 4 percent.

As of end-November, the Bureau of Internal Revenue (BIR) collected a total of P1.788 trillion.

While the BIR already exceeded its revised full-year program of P1.686 trillion by 6 percent, this is still 11.19 percent lower than the 11-month tally in 2019 of P2.013 trillion.

Ang said Public Private Partnerships (PPPs) can help in this regard, particularly in implementing infrastructure projects with a high multiplier effect. This year, a number, if not all, of the government’s infrastructure projects were severely affected by the lockdowns which did not allow construction activities to continue. “(The government needs to) ensure an environment for business to recover and consumers to regain confidence,” Ang told the BusinessMirror. “They need to find financing and the share implementation (of these projects) with the private sector.”

Task for government

FOR Oplas, the primary task of the government is to secure vaccines and gradually lift the General Community Quarantine (GCQ ) restrictions. She added that the government must also implement barangay-level monitoring of the Covid-19 cases as well as implementation of restrictions.

She said these will allow more businesses to open, which can pave

the way for jobs to return. Jobs are crucial at this point given the dependence of the economy on consumption, according to Oplas.

On top of this, jobs will secure the future of families and ensure that they are happy.

She told the BusinessMirror this may be a simplistic view but can be true for many families nationwide. Oplas said that as a Filipino, she can relate to this since surviving the pandemic as a family is one major source of happiness for her this year.

“I would really want the economy to slowly open so that business can go back to the new normal.

Jobs will be back. With jobs comes security of provision for family. We will be happy,” Oplas said.

“Now more than any time before, I am happier just to see that we have survived as a family. We don’t have to be filthy rich. As long as we are still getting the basics, I’m happy,” she added.

Hope floats

AS for Arlene, 2020 is far from over, especially considering the bills they have to pay. Arlene is concerned that her P25,000 Meralco bill will further increase. Other utility bills are also expected to come running after them.

On top of these, her husband’s medical expenses not all of which was shouldered by the company will be difficult to pay for. In fact, she said, they had to loan P5,000 from another relative just to get his last swab test.

But there’s a glimmer of hope for her and her family. As of this writing, Arlene has been able to find a secure job. It’s not a job that she is used to doing but it can help them pay their bills. Her husband is back at work while her mother and son have also survived their ordeals with Covid-19.

Arlene is still thankful that their landlord, the aunt of her husband, has helped keep them out of the streets during this difficult time despite delays in their rent payments.

She also had a neighbor who commiserated with her misery and helped make 2020 bearable. Simple acts of kinds such as these were what helped her get through 2020.

Yearning for God

DESPITE everything that she went through this year, Arlene is still looking forward to a brighter future. Another relative has offered her and her husband a place to call their own in exchange for minimal payments. This gives her hope that their future would be brighter.

She is really hoping and praying that 2021 will be a kinder year for her and her family. “(Sa panahong ito), ngayon mo malalaman kung sino ang kaibigan mo sa hindi. Nung nagkaron kami ng problema, wala akong kaibigan eh, naglaho silang lahat. Itong 2021, extra-ingat na lang. Plano ko mag-ipon kaming mag-asawa kasi lahat ng pera namin (nagastos),” Arlene said. “Ngayong 2021, malay mo, [by] God ’s grace, talagang ibibigay sayo yan, na walang pagsubok na ibibigay sayo na hindi mo kakayanin. Walang imposible sa Diyos.”

[The situation allowed you to know who your friend is and who is not. When we had a problem, I had no friends; they all disappeared.

This 2021, we would be extra cautious. I plan to save because we spent all our money. Who knows,

by God’s grace, we could get the money back and God would allow us not to suffer any more trials that we couldn’t exit from. Nothing is impossible with God.]

A8

The World

Wednesday-Thursday, December 30-31, 2020

Editor: Angel R. Calso

Hospitals in Britain scramble for space as virus cases soar

L

ONDON—British hospitals are canceling non-urgent procedures and scrambling to find space for Covid-19 patients as coronavirus cases continue to surge despite tough new restrictions imposed to curb a fastspreading new variant of the virus.

Another 41,385 confirmed cases were recorded across the UK on Monday. It was the first time the daily number of cases reported in the country surpassed 40,000, although many more tests are being performed than earlier in the pandemic.

Dr. Nick Scriven, immediate past president of the Society for Acute Medicine, said the rising number of hospitalized patients was “extremely worrying.”

“With the numbers approaching the peaks from April, systems will again be stretched to the limit,” he said.

British authorities are blaming a new variant of the coronavirus for soaring infection rates in London and southeast England. They say the new version is more easily transmitted than the original, but stress there is no evidence it makes people sicker.

In response, authorities have put a swath of England that’s home to 24 million people under restrictions that require nonessential shops to close, bar indoor socializing and allow restaurants and pubs only to operate for takeout.

Even so, hospital admissions for Covid-19 in southeast England are approaching or exceeding the levels seen at the first peak of the outbreak. Government figures show 21,286 people were hospitalized with the coronavirus across the UK on December 22, the last day for which data is available.

That is only slightly below the high of 21,683 Covid-19 patients who were recorded in UK hospitals on April 12.

Dr. K at her i ne Henderson, president of the Royal College of Emergency Medicine, described her experience working in a hospital on Christmas Day as “wallto-wall Covid.”

“The chances are that we will cope, but we cope at a cost,” Henderson told the BBC. “The cost is not doing what we had hoped, which is being able to keep nonCovid activities going.”

The UK has reported more than 71,000 deaths among people with the coronavirus, one of the highest tolls in Europe. A further 357 deaths were reported onMonday.

Cabinet Minister Michael Gove said more parts of England might have to be put into the toughest tier of restrictions if case numbers do not fall. Scotland, Wales and Northern Ireland also have implemented strong lockdown measures.

Still, there is rising confidence help could soon be on the way, with expectation mounting that UK regulators may authorize a second coronavirus vaccine this week.

British media reports say the Medicines and Healthcare Products Regulatory Agency is likely to give the green light to a vaccine made by AstraZeneca and Oxford University.

The regulator authorized a jab made by US pharmaceutical company Pfizer and German firm BioNTech on December 2, making Britain the first country to gain access to a rigorously tested vaccine.

More than 600,000 people in the UK have received the first of the two shots needed of the vaccine.

If the A straZeneca- Oxford vaccine is authorized this week, members of the public could start receiving it from January 4. Britain has ordered 100 million doses, compared to 40 million doses of the Pfizer-BioNTech shot.

The AstraZeneca-Oxford vaccine is considered a potential game-changer in global immunization efforts because it is less expensive than the Pfizer shot and does not need to be stored at freezer temperatures, making it easier to distribute.

But it had less clear-cut results from clinical trials than its main rivals. Partial results suggest that the shot is about 70 percent effective for preventing illness from coronavirus infection, compared to the 95 percent efficacy reported for the Pfizer-BioNTech vaccine.

But the trials produced two different results based on the dosing regimen used. Researchers said the vaccine protected against disease in 62 percent of those given two full doses and in 90 percent of those given a half dose followed by a full dose.

However, the second group included only 2,741 people—too few to be conclusive.

AstraZeneca CEO Pascal Soriot told the Sunday Times newspaper that he was confident the vaccine would work against the new strain and would prove as effective as its rivals.

“We think we have figured out the winning formula and how to get efficacy that, after two doses, is up there with everybody else,” Soriot said. AP

Thailand governor infected; U.K. variant in South Korea

B

ANGKOK—The governor of a province at the center of an expanding Covid-19 outbreak in Thailand has been confirmed infected with the coronavirus after meeting with public health officials including the deputy prime minister.

The meeting on Sunday attended by the Samut Sakhon governor, Deputy PM Anutin Charnvirakul and others was considered a low risk of spreading the virus because everyone wore masks, said Dr. Taweesilp Visanuyotin, a spokesperson for the Covid-19 response center.

The governor, Weerasak Wijitsaengsri, did not have symptoms but would be treated at a hospital, Taweesilp said.

Anutin, who is also Thailand’s public health minister, wrote on Facebook that he has tested negative for the virus and is isolating at home for 14 days.

Thailand reported 144 new cases on Monday, most of them locally transmitted, and its total has reached 6,285.

The Southeast Asian country had virtually no cases beyond quarantined travelers for months, but its totals have surged since an outbreak among migrant workers at a seafood market in Samut Sakhon was detected in mid-December.

The province was put under lockdown on December 19. Confirmed cases related to the seafood market have been found in 43 other provinces, including the capital, Bangkok.

Taweesilp said every province has to work hard to control the virus and the number of new infections could reach the thousands daily if nothing is done to prevent the spread. “The best way is to avoid traveling and meetings.”

Meanwhile, South Korea has confirmed its first cases of a more contagious variant of Covid-19 that was first identified in the United Kingdom.

The Korea Disease Control and Prevention Agency said Monday the cases are a family of three people who came to South Korea on December 22. They arrived a day before South Korea halted air travel from Britain until December 31 to guard against the new version of the virus. The three people, who reside in the UK, are under quarantine in South Korea. South Korea on Monday registered 808 new coronavirus cases, raising its national caseload to 57,680 with 819 deaths.

Other developments in Asia-Pacific region: n Indonesia’s government plans to ban foreigners from entering the country for 14 days starting January 1 in an attempt to keep out a new coronavirus variant that is believed to spread more rapidly. Foreign Affairs Minister Retno Marsudi said the Cabinet made the decision on Monday. The government also announced 5,854 new Covid-19 cases on Monday, bringing the country’s total to 719,219 confirmed cases, including 21,452 deaths. n Authorities have banned New Year’s Eve revelers from congregating in Sydney’s downtown harborside to see the celebrated fireworks due to the pandemic risk. New South Wales state Premier Gladys Berejiklian said on Monday people who live in the city center can invite up to 10 guests to their homes to celebrate. The guests will have to apply for permits to enter the area.

Australia’s largest city recorded five new cases of Covid-19 connected to a cluster in the northern beaches region, bringing the total to 126 infections since December 10.

Around 1 million people usually congregate on the harbor foreshore to see the annual fireworks that center on the Sydney Harbor Bridge. n Japanese Prime Minister Yoshihide Suga says he plans to submit legislation that will make coronavirus measures legally binding for businesses, punish violators and include economic compensation as his government struggles to slow the ongoing upsurge. Japan had a state of emergency in April and May with non-binding requests for people to stay home and business to close, but people have been complacent about the pandemic and storeowners have become less cooperative due to the economic impact. Suga said experts are discussing the legislation to make coronavirus more effectively enforced and hoped to submit the bill for parliamentary approval “as soon as possible” next year. n Japan on Monday reported its first member of parliament to die from the coronavirus. Yuichiro Hata, 53, also had served as transport minister under a nowdefunct opposition party. He developed a slight fever on Thursday and planned to be tested for the virus as a precaution, but his condition suddenly worsened on Sunday, said Tetsuro Fukuyama, secretary general of the Constitutional Democratic Party of Japan, to which Hata belonged. Hata was the son of late Prime Minister Tsutomu Hata, who headed an opposition-led government in

1994. Fukuyama said he hopes Hata’s death will raise public awareness of the danger of the virus. “He was still just over 50 and his condition worsened so quickly.

I feel strongly that we really should not underestimate the risk of the coronavirus,” he said. Japan is struggling with a surge in infections that is showing no signs of slowing. Prime Minister Yoshihide Suga’s government has been reluctant to impose tougher restrictions that would further damage the pandemic-hit economy. Japan has reported 220,236 cases, including 3,252 deaths, as of Sunday. Three other national lawmakers have contracted the virus and recovered. n A member of the security staff and a cleaner at Hong Kong’s international airport have tested positive for the coronavirus. The Airport Authority said Monday that all cleaning staff have been ordered to undergo testing and keep isolated while awaiting results, and that all areas that might have been exposed to the virus have been disinfected. The authority said it is also instituting measures to keep a distance between staff and passengers in the terminal, including designating separate dining areas. Hong Kong’s airport is among the world’s busiest and the economy of the city known as an international business center has taken a severe hit from pandemic control measures and the downturn in international travel. The local government, meanwhile, has struggled to control a new surge in cases, with another 70 announced on Monday for a total of 8,610, including 137 deaths. n Sri Lanka’s government announced Monday that cinemas will be allowed to reopen throughout the country on January 1 after being closed for three months because of the coronavirus. The reopening, which will require the following of strict health guidelines, is part of the island nation’s efforts to return to normalcy despite lockdowns in different parts of the country. Prime Minister Mahinda Rajapaksa decided to reopen the cinemas because of the hardships faced by the industry, his office said in a statement. Patrons will be required to wear facemasks and have their body temperatures taken before entering the cinemas. Seats will also be kept vacant between patrons and cinemas can admit only 25 percent of their normal capacity. Consumption of food and drinks will not be allowed because that would require the removal of facemasks. Sri Lanka has confirmed 41,053 coronavirus cases, including 191 fatalities. AP

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS NO.

FOREIGN NATIONAL / NATIONALITY

ESTABLISHMENT / ADDRESS POSITION

8 STONE BUSINESS OUTSOURCING OPC 5-10/f Tower 1 Pitx Kennedy Road Tambo Parañaque City

NO. 27.

ESTABLISHMENT / ADDRESS

FOREIGN NATIONAL / NATIONALITY

POSITION

NO.

LIU, ZHANGZHU Chinese

QA (QUALITY ASSURANCE) SPECIALIST

63.

1.

LI, WEIQUN Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

ITECHNO SPECIALIST INC. U-608 Eastfield Ctr. Moa Comp. Macapagal Ave. Brgy. 076 Pasay City

2.

LI, ERLEI Chinese

MANDARIN CUSTOMER SERVICE REPRESENTATIVE

28.

HUANG, YUJIAO Chinese

CHINESE CUSTOMER SERVICE SUPPORT

29.

WANG, ZHIGANG Chinese

CHINESE CUSTOMER SERVICE SUPPORT

30.

FU, LISHA Chinese

CHINESE IT SUPPORT SPECIALIST

31.

HUANG, WEI Chinese

CHINESE IT SUPPORT SPECIALIST

ADVANCED WORLD SYSTEMS, INC. Unit 505 5f Atc Bpo1 Madrigal Ave., Atc, Mbp Ayala-alabang Muntinlupa City 3.

KONISHI, AKIRA Japanese

CHAIRMAN OF THE BOARD, CHIEF EXECUTIVE OFFICER AND PRESIDENT

ALSTOM TRANSPORT CONSTRUCTION PHILIPPINES, INC. 4/f U-2c One E-com Center Moa Ocean Drive Brgy. 076 Pasay City 4.

LEE, CHIH-HSIEN Taiwanese

TRACK CONSTRUCTION MANAGER

BRIGHTLEISURE MANAGEMENT INC. 10/f Newport Entertainment & C Newport City Manlunas Brgy. 183 Pasay City 5.

HUDSON, DENNIS Australian

SENIOR DIRECTOR FOR TABLE GAMES OPERATIONS

CAPSLOCK INC. 7th & 8th Flr. Y Tower Bldg. Coral Way Drive Cor. Macapagal Brgy.

076 Pasay City 6.

7.

XIAO, BANGRONG Chinese SAI WIN OO Myanmari

CHINESE IT SUPPORT SPECIALIST IT SUPPORT SPECIALIST

CHROMELAB TECHNOLOGIES INC. 25/f Techzone Bldg. 213 Sen. Gil Puyat Ave. San Antonio Makati City 8.

TRAN THI LAN HUONG Vietnamese

BI-LINGUAL SPEAKING CUSTOMER SERVICE OFFICER

CLOVERSENSE TECHNOLOGY INC. 29/f Robinsons Summit Center 6783 Ayala Center Bel-air Makati City 9.

LEI, ZHIPENG Chinese

DATA ANALYST - MANDARIN SPEAKING II

10.

TAM, KWAN YEUNG Chinese

DATA ANALYST - MANDARIN SPEAKING II

11.

TAM, PERRY Portuguese

SPORTS TRADER PORTUGUESE SPEAKING II

CONCENTRIX CVG PHILIPPINES, INC. 25/f Ayala North Exchange Tower 2, 6796 Ayala Ave. Cor. Salcedo & Amorsolo Streets Makati City 12.

SMITH, MARK ROBERT British

SENIOR DIRECTOR, GLOBAL SERVICE DELIVERY

DIGICHROM INC. Unit 2602 & 2603 26/f Pbcom Tower 6795 Ayala Ave. Bel-air Makati City 13.

CHEN, YING-YU Taiwanese

MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE

FLY SKY SERVICE INC. Level 10-1 One Global Place 5th Ave. Cor. 25th St. Bonifacio Global City Fort Bonifacio Taguig City 14.

ZHUANG, HOUCHENG Antiguan

ADMINISTRATIVE EXECUTIVE FOR MANDARIN ACCOUNT

FOSCON SHIPMANAGEMENT INC. Palacio Grande Building Gen. Luna Corner Anda Street Intramuros Manila 15.

KIM, WANGHWEI South Korean

MANAGER

FUXINGYING CAIYUN HENTONG, CORP. 7th, 8th, 9th, 10th Floor Eton Ewestpod Chino Roces Avenue Cor. Yakal & Malugay Streets San Antonio Makati City 16.

17.

18.

23.

CUSTOMER SERVICE THAI SPEAKING

YAN, SHASHA Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

LEHKY, ROMAN Czech

MARKETING MANAGER

CHEN, JUAN Chinese

MANDARIN COLLECTION OFFICER

NING, JIAYU Chinese

MANDARIN OFFICE SUPERVISOR

RO, EUN JIK South Korean

CHIEF EXECUTIVE OFFICER (CEO)

INQUICK SERVICES INC. Unit 606 6/f Itc Bldg. 337 Sen. Gil Puyat Ave. Bel-air Makati City 25.

CHUNG, SHIH-WEI Taiwanese

MANDARIN SPEAKING MARKETING SPECIALIST

INVECH TREASURE PROCESSING CORPORATION Ground, 2nd, 3rd, 4th, 5th Floor Six West Campus Mckinley West Fort Bonifacio Taguig City 26.

BAI, PENGFEI Chinese

IT TECHNICAL MANDARIN

CHINESE CUSTOMER SERVICE

104.

NGUYEN THI BIEN Vietnamese

IT SUPPORT SPECIALIST

64.

YANG, WEN Chinese

CHINESE CUSTOMER SERVICE

105.

ONG KEAN KOK Malaysian

IT SUPPORT SPECIALIST

65.

ZHANG, CHENGGUANG Chinese

CHINESE CUSTOMER SERVICE

106.

SUSANTO THIE Indonesian

IT SUPPORT SPECIALIST

66.

ZHANG, LI Chinese

CHINESE CUSTOMER SERVICE

107.

WAH LI PING Malaysian

IT SUPPORT SPECIALIST

67.

ZHANG, HAO Chinese

CHINESE CUSTOMER SERVICE

68.

ZHANG, XU Chinese

CHINESE CUSTOMER SERVICE

ZHU, HONGWEI Chinese

CHINESE CUSTOMER SERVICE

TRI7 SOLUTIONS, INC. Unit 9-a 9/f Marvin Plaza Bldg. 2153 Don Chino Roces Ave. Pio Del Pilar Makati City 108.

ERWIN Indonesian

BAHASA LANGUAGE CUSTOMER SERVICE REPRESENTATIVE

109.

HERIYANTO Indonesian

BAHASA LANGUAGE CUSTOMER SERVICE REPRESENTATIVE

110.

CHEN, JIANNAN Chinese

CHINESE LANGUAGE CUSTOMER SERVICE REPRESENTATIVE

DUONG TAN PHAT Vietnamese

MANDARIN OPERATIONS SPECIALIST

CHINESE IT SUPPORT SPECIALIST

72.

LAI, YAN-BO Taiwanese

MANDARIN OPERATIONS SPECIALIST

111.

CHEN, XINSHENG Chinese

CHINESE LANGUAGE CUSTOMER SERVICE REPRESENTATIVE

SHI, LIANHUI Chinese

CHINESE IT SUPPORT SPECIALIST

73.

SHEN, HAOTING Chinese

MANDARIN UI DESIGNER

112.

CHEN, ZHENYAN Chinese

CHINESE IT SUPPORT SPECIALIST

74.

37.

ZHANG, JINGBIN Chinese

DO DAT THUAN Vietnamese

VIETNAMESE OPERATIONS ANALYST

CHINESE LANGUAGE CUSTOMER SERVICE REPRESENTATIVE

75.

TRAN KHAY SIU Vietnamese

VIETNAMESE OPERATIONS SPECIALIST

113.

DING, LI Chinese

CHINESE LANGUAGE CUSTOMER SERVICE REPRESENTATIVE

38.

ZHANG, WEIBIN Chinese

CHINESE IT SUPPORT SPECIALIST

114.

DONG, YU Chinese

CHINESE LANGUAGE CUSTOMER SERVICE REPRESENTATIVE

39.

DAO THI HUONG Vietnamese

RAINBOW PROMISE SOLUTIONS INC. Unit A 14/f B.a Lepanto Bldg. 8749 Paseo De Roxas Bel-air Makati City

IT SUPPORT SPECIALIST

76.

COMPLIANCE AND FRAUD EXECUTIVE

115.

FENG, WENSI Chinese

CHINESE LANGUAGE CUSTOMER SERVICE REPRESENTATIVE

40.

DAU KHAC HOA Vietnamese

IT SUPPORT SPECIALIST

SPEED QUALITY TECH INC. 3/f Eco Plaza Bldg. 2305 Chino Roces Ave. Extn. Magallanes Makati City

116.

FU, CAIXIA Chinese

CHINESE LANGUAGE CUSTOMER SERVICE REPRESENTATIVE

117.

GE, RONGQIAN Chinese

CHINESE LANGUAGE CUSTOMER SERVICE REPRESENTATIVE

118.

LI, YING Chinese

CHINESE LANGUAGE CUSTOMER SERVICE REPRESENTATIVE

119.

LIU, SIYUAN Chinese

CHINESE LANGUAGE CUSTOMER SERVICE REPRESENTATIVE

120.

LIU, ZHENXIU Chinese

CHINESE LANGUAGE CUSTOMER SERVICE REPRESENTATIVE

121.

QI, JIANMIN Chinese

CHINESE LANGUAGE CUSTOMER SERVICE REPRESENTATIVE

122.

SONG, JIE Chinese

CHINESE LANGUAGE CUSTOMER SERVICE REPRESENTATIVE

J-NA ALLOUT TECHNOLOGY SOLUTIONS CORP. 3/f Lipams Bldg. #48 President Avenue Bf Homes Parañaque City 41.

REN, YINGYAN Chinese

MANDARIN CUSTOMER SERVICE REPRESENTATIVE

KONGANBUDDIES MARKETING INC. 48/f Lower Ground Pbcom Tower 6795 Ayala Ave. Cor. V.a. Rufino St. Bel-air Makati City

VIVIAN TAN YI HAN Malaysian

77.

HO THANH NGUYEN Vietnamese

MANDARIN CUSTOMER SERVICE SPECIALIST

78.

HU, XIN Chinese

MANDARIN CUSTOMER SERVICE SPECIALIST

79.

KUO, HENG-HUNG Taiwanese

MANDARIN CUSTOMER SERVICE SPECIALIST

42.

WOO MEI ZHI Malaysian

MALAYSIAN CUSTOMER SERVICE REPRESENTATIVE

80.

LAN, FEIPIN Chinese

MANDARIN CUSTOMER SERVICE SPECIALIST

43.

PA-OR, PATCHARIN Thai

THAI CUSTOMER SERVICE REPRESENTATIVE

81.

LI, MUYAN Chinese

MANDARIN CUSTOMER SERVICE SPECIALIST

82.

SHEN, JIARUI Chinese

MANDARIN CUSTOMER SERVICE SPECIALIST

83.

ZHAO, WEN Chinese

MANDARIN CUSTOMER SERVICE SPECIALIST

MEGA-WEB TECHNOLOGIES INC. 6,7,8,9,10,11/f Met Live Bldg. Edsa Cor. Macapagal Blvd. Brgy. 076 Pasay City 44.

IVY PEK SUE XIAN Malaysian

MALAYSIAN SPEAKING CUSTOMER SERVICE REPRESENTATIVE

45.

LI, ZHIQUAN Chinese

MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

84.

GU, WENWEN Chinese

CHINESE IT SUPPORT SPECIALIST

123.

TANG, JIE Chinese

46.

ZHANG, LIJUN Chinese

MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

CHINESE LANGUAGE CUSTOMER SERVICE REPRESENTATIVE

85.

HE, CONG Chinese

CHINESE IT SUPPORT SPECIALIST

124.

WANG, YIYI Chinese

CHINESE LANGUAGE CUSTOMER SERVICE REPRESENTATIVE

86.

HUANG, SHENGJUN Chinese

CHINESE IT SUPPORT SPECIALIST

125.

WANG, JINGJING Chinese

CHINESE LANGUAGE CUSTOMER SERVICE REPRESENTATIVE

87.

WANG, WEI Chinese

CHINESE IT SUPPORT SPECIALIST

126.

WANG, SHENGLONG Chinese

CHINESE LANGUAGE CUSTOMER SERVICE REPRESENTATIVE

88.

XIAO, MENGFAN Chinese

CHINESE IT SUPPORT SPECIALIST

127.

XU, ANQI Chinese

89.

CAO, JIAN Chinese

CHINESE IT SUPPORT SPECIALIST

CHINESE LANGUAGE CUSTOMER SERVICE REPRESENTATIVE

128.

ZHANG, YANMIE Chinese

90.

DONG, RUI Chinese

CHINESE IT SUPPORT SPECIALIST

CHINESE LANGUAGE CUSTOMER SERVICE REPRESENTATIVE

129.

HIEW HON HOI Malaysian

91.

FAN, XIAOLIN Chinese

CHINESE IT SUPPORT SPECIALIST

MALAY LANGUAGE CUSTOMER SERVICE REPRESENTATIVE

130.

LYU, JUNYONG Chinese

CHINESE IT SUPPORT SPECIALIST

KONG KAH LEONG Malaysian

MALAY LANGUAGE CUSTOMER SERVICE REPRESENTATIVE

131.

93.

XU, SIJIN Chinese

CHINESE IT SUPPORT SPECIALIST

WONG WAI YEE Malaysian

MALAY LANGUAGE CUSTOMER SERVICE REPRESENTATIVE

94.

CHEN, PO-HAN Taiwanese

IT SUPPORT SPECIALIST

MF CONSULTANCY MANAGEMENT SERVICES INC. Unit 1001 10/f Antel 2000 Corporate Centre 121 Valero St. Bel-air Makati City 47.

49.

HOME SHOPPING NETWORK, INC. Del Bros Ave. Cor. Venecia De Leon Sto. Nino Parañaque City 24.

36.

POSITION

71.

CUSTOMER SERVICE REPRESENTATIVE – MANDARIN SPEAKING

HENTSON BUSINESS CONSULTANCY INC. Unit Ug-8 Cityland Herrera Tower 98 V.a. Rufino Cor. Valero Sts. Bel-air Makati City 22.

35.

PENG, JIANMING Chinese

YANG, JIALIANG Chinese

OUTWIT, INC. 2/f Marvin Plaza 2153 Chino Roces Ave. Pio Del Pilar Makati City

FOREIGN NATIONAL / NATIONALITY

MANDARIN IT TESTER

48.

GULF SUPPORT MARKETING PH INC. Level 26-a Rufino Pacific Tower 6784 Ayala Ave. San Lorenzo Makati City 21.

CHINESE IT SUPPORT SPECIALIST

NO.

LI, YELIANG Chinese

SEPTY Indonesian

GLOBALLGA BUSINESS PROCESS OUTSOURCING Ground Level, Level 2-5 Floor Silver City 4, Ortigas East Ugong Pasig City 20.

34.

LIU, FENG Chinese

POSITION

69.

FOREIGN NATIONAL / NATIONALITY

ESTABLISHMENT / ADDRESS

70.

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

MOONPANUN KORNPAT Thai

CHINESE IT SUPPORT SPECIALIST CHINESE IT SUPPORT SPECIALIST

SEPTARIANTO Indonesian

ERWIN DANANTO Indonesian

KE, XINYI Chinese LIU, ZONGXING Chinese

33.

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

GLOBAL B2B CONSULTANCY, INC. 50/f Pbcom Tower 6795 Ayala Avenue Bel-air Makati City 19.

32.

Wednesday-Thursday, December 30-31, 2020 A9

ZHANG, HAIJIAO Chinese

CHINESE SPEAKING CUSTOMER RELATIONS OFFICER

MOA CLOUDZONE CORP. 4th-11th Flr. Nexgen Tower C4 Rd. Edsa Ext. Brgy. 076 Pasay City

50.

CAO, GANG Chinese CHANG, XIAOHUI Chinese CHEN, XIAOPENG Chinese

CHINESE CUSTOMER SERVICE CHINESE CUSTOMER SERVICE CHINESE CUSTOMER SERVICE

51.

FENG, KAI Chinese

52.

JING, CHENGENG Chinese

CHINESE CUSTOMER SERVICE

53.

LI, NINGNING Chinese

CHINESE CUSTOMER SERVICE

54.

LI, ZONGLIANG Chinese

CHINESE CUSTOMER SERVICE

55.

LIN, ZHIQIAN Chinese

CHINESE CUSTOMER SERVICE

56.

LU, QI Chinese

CHINESE CUSTOMER SERVICE

57.

SHU, FA Chinese

CHINESE CUSTOMER SERVICE

58.

TRAN THI HUONG Vietnamese

CHINESE CUSTOMER SERVICE

59.

WANG, QINGSHAN Chinese

CHINESE CUSTOMER SERVICE

60.

WEI, JIANQIANG Chinese

CHINESE CUSTOMER SERVICE

61.

WU, YANGGANG Chinese

CHINESE CUSTOMER SERVICE

62.

XU, LIANG Chinese

CHINESE CUSTOMER SERVICE

CHINESE CUSTOMER SERVICE

TIANYU TECHNOLOGY INC. 42/f Pbcom Tower Ayala Avenue Cor. V.a Rufino Street Bel-air Makati City

92.

VERTIV (SINGAPORE) HOLDINGS PTE. LTD. - ROHQ 7/f, Robinsons Cybergate Plaza Pioneer Brgy. Barangka Ilaya Mandaluyong City 132.

95.

GIAP THI HIEN Vietnamese

IT SUPPORT SPECIALIST

96.

KOH JIE FENG Singaporean

IT SUPPORT SPECIALIST

97.

OOI GOON KIAT Malaysian

IT SUPPORT SPECIALIST

98.

DAM KIEN DAN Vietnamese

IT SUPPORT SPECIALIST

99.

JEREMY SEBASTIAN SHIM Malaysian

IT SUPPORT SPECIALIST

100.

LIN, MEI-LING Taiwanese

IT SUPPORT SPECIALIST

101.

LUSI Indonesian

IT SUPPORT SPECIALIST

102.

NG LING JENN Malaysian

IT SUPPORT SPECIALIST

103.

NGIEN HOCK KHIN Malaysian

IT SUPPORT SPECIALIST

MANDAHL, CHRISTOPHER BRIAN New Zealander

SENIOR DIRECTOR, SERVICE AND PROJECTS MANAGEMENT, SEA

VPC CORPORATE SOLUTIONS INCORPORATED 11/f 100 West, Sen Gil Puyat Ave. Cor. Washington St. Pio Del Pilar Makati City 133.

NGO DUONG CUC TAM Vietnamese

VIETNAM-SPEAKING CUSTOMER SERVICE OFFICER

134.

NGUYEN THE TAM Vietnamese

VIETNAM-SPEAKING CUSTOMER SERVICE OFFICER *Date Generated: Dec 29, 2020

Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at DOLE-NCR Regional Office located at DOLE-NCR Building, 967 Maligaya St., Malate Manila, within 30 days after this publication.

Please inform DOLE-NCR if you have any information on criminal offense committed by the foreign nationals.

ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

Opinion

A10 Wednesday-Thursday, December 30-31, 2020 • Editor: Angel R. Calso

BusinessMirror

www.businessmirror.com.ph

editorial

Food manufacturers need govt support

T

he Philippines will likely end 2020 with a record number of shipments of imported meat products due largely to the surge in demand for canned meat and processed meat products (See, “Meat imports seen surpassing 2019 record,” in the BusinessMirror, November 30, 2020). The lockdown imposed in March and the ensuing lack of transportation gave the impetus for consumers to stock up on canned food items, such as corned beef, luncheon meat, and sausages. These food items augmented fresh produce bought by residents from wet markets or groceries during the lockdown.

Data from the Bureau of Animal Industry showed that shipments in January to October expanded by 760,000 metric tons, as traders and processors bought more imported chicken meat and beef products. During the period, traders bought an average of 76,000 MT of imported meat products a month. According to BAI, nearly a third of the shipments during the period consisted of chicken MDM, a raw material used for making processed products.

As the economy opens up further next year and spending for the 2022 elections commences, the demand for processed meat and canned food items could expand, particularly since major urban areas in the country including the National Capital Region are still under quarantine. Even before the pandemic, the appetite of Filipino consumers for processed meat products and canned food items has been growing. Poor Filipinos particularly gravitate toward these products because processed meat and canned food are more affordable and are relatively easier to store.

Local manufacturers import the bulk of raw materials for canned food items because they cannot find them in the country. MDM, a paste-like and batter-like meat product produced by forcing bones, with attached edible meat, under high pressure through a sieve or similar device to separate the bone from the edible meat tissue, is abundant in countries that have invested heavily in its production.

Manufacturing MDM in the Philippines would require the same attention and resources accorded by countries that are now profiting from it.

Traders shell out anywhere from $600 to $800 per metric ton of chicken MDM or as much as P4,000 at the current exchange rate (See, “DA asked to clarify ban on MDM; processed meat supply gaps seen,” in the BusinessMirror, August 18, 2020). At 200,000 metric tons, countries exporting this product earn a minimum of $120 million. The figure does not yet include other raw materials used by Philippine manufacturers, like beef fats.

Government should earnestly pursue its goal of jump-starting chicken MDM production here if it wants to achieve food security for the country and enable the agriculture sector to create more jobs (See, “Govt soon to have Triple A facility to produce MDM of chicken—Dar,” in the BusinessMirror, August 31, 2020 and “Govt to build cold storage warehouses in 3 provinces,” in the BusinessMirror, December 7, 2020). It must also encourage and facilitate the entry of private sector investors in this type of venture via incentives and the provision of technical support to finally get MDM chicken production in the Philippines off the ground. The government must see to it that Philippine canned goods manufacturers should not be forever buying raw materials from other countries.

This is important for the country’s food security.

SSS in 2021: Looking forward to a better year ahead Aurora C. Ignacio

All About Social Security

I

t’s exactly three days before we welcome 2021! The year 2020 was indeed a very challenging and tough ride for every Filipino.

Yes, we started the year with a clear vision and goals and yet, we experienced a drastic start with the Taal Volcano eruption in January, followed by the spread of African Swine Fever in February, and the major outbreak of the coronavirus disease in March, which was followed by a series of enhanced community quarantine until June.

In the last quarter of this year, we have been struck by a series of destructive natural calamities in Luzon provinces and Metro Manila brought by Typhoons Rolly, Quinta and Ulysses. By December, a string of hope was unveiled with the discovery of a Covid vaccine and followed by its mass distribution in some European countries.

We have survived! Despite all these happenings, we haven’t lost our faith. Faith in God and faith in our people, and the hope that things will turn out for the better. There is really a reason behind all of these, which taught us a few lessons in adapting to change as we practice the new normal. To mention a few—wearing our face masks and face shields, practicing

social distancing, avoiding crowded areas, limiting social interactions and opting to engage in online and virtual reunions instead so as not to contract the virus.

As we welcome 2021, the Social Security System (SSS) will also implement its new contribution schedule and Workers’ Investment and Saving Program (WISP) pursuant to Republic Act 11199 or the Social Security

BusinessMirror A broader look at today’s business

Dennis Gorecho

Pinoy Marino Rights

✝ Ambassador Antonio L. Cabangon Chua Publisher Editor in Chief Associate Editor News Editor

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Senior Editors

Lorenzo M. Lomibao Jr., Gerard S. Ramos Lyn B. Resurreccion, Dennis D. Estopace Angel R. Calso

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Ruben M. Cruz Jr.

Creative Director Chief Photographer Chairman of the Board Ombudsman President Advertising Sales Manager Group Circulation Manager

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pensions were increased 22 times.

Further, in 2017, a P1,000 additional monthly benefit was implemented for all pensioners without a corresponding adjustment in the contribution rate, which caused a reduction in the SSS fund life of 10 years.

Indeed, one of the significant provisions under the new SSS law is a schedule of increases in contribution rate as well as the minimum and maximum MSCs up to 2025. Upon full implementation, the reforms under it will offset the adverse financial impact of the additional monthly benefit granted in 2017.

SSS never really stops in offering new and beneficial programs to its members, especially amid the pandemic. Let us take to heart the lessons 2020 taught us and realize that we are all still blessed that we are still able to provide for ourselves and for our families.

On behalf of the SSS Management and staff, let me greet everyone— Manigong Bagong Taon!

Stay safe and well!

Aurora C. Ignacio is SSS president and chief executive officer.

We welcome your questions and insights on the topics that we discuss. E-mail mediaaffairs@sss. gov.ph for topics that you might want us to discuss.

Manunggul Jar ‘ship-of-the-dead’ and the journey to afterlife

Since 2005

Founder

Act of 2018.

A 1 percent adjustment in contribution rate will be implemented next year, from the current 12 percent, making it 13 percent by January 2021.

Likewise, the minimum monthly salary credit would be adjusted to P3,000 from the current P2,000, except for Kasambahay and OFW members whose minimum MSC will respectively remain at P1,000 and P8,000, while the maximum MSC will be at P25,000 from P20,000.

As to the contribution share of the employer and employee, the additional 1 percent will be equally divided, thus the employer share will be at 8.5 percent from 8 percent, while the employee share will be at 4.5 percent from 4 percent. It applies to employed members, landbased OFW members in countries with Bilateral Labor Agreements with the Philippines, and sea-based OFW members.

To cite an example, those who will be paying under the P10,000 MSC starting next year will pay a monthly contribution of P1,300, which is P100 higher than the P1,200 in 2020.

Historically, though, from 1980 to 2016, the contribution rate was increased only four times, while

T

he journey of the soul to the afterlife was closely associated by early Filipinos to maritime culture as represented by the “ship-of-the-dead” burial container called Manunggul Jar.

I saw the burial jar twice during my visits to two museums, the Palawan Cultural Center in Puerto Princesa, and the National Museum in Manila.

The jar dates from 890–710 BC and was excavated from a Neolithic burial site in the Manunggul cave of the Tabon Caves at Lipuun Point in Palawan.

During the webinar on maritime history sponsored by the Asian Institute of Maritime Studies (AIMS) last September, my fellow speaker historian Xiao Chua explained how the Manunggul Jar shows the interaction between the Filipinos’ maritime culture and their ancestors’ religious beliefs.

The upper part of the Manunggul Jar, as well as the cover, is carved with curvilinear scroll designs (reminiscent of waves on the sea), which are painted with hematite.

At the top handle of its cover, there are two human figures in a boat representing the voyage to

the afterlife.

The front figure is the deceased man with hands crossed on his chest, which was a widespread practice in the Philippines when arranging the corpse.

The rear figure, on the other hand, is holding a steering paddle directing the boat, to bring the soul of the man to the afterlife.

Chua pointed out that many Filipino epics narrate how souls go to the next life and pass through the rivers and seas aboard boats.

Early Filipinos believed that a man is composed of a body, a life force called ginhawa, and a kaluluwa (soul), which explains why the design of the cover of the Manunggul Jar featured three faces—the soul, the boatman, and the boat itself.

The kaluluwa, after death, can return to Earth to exist in nature and guide his descendants.

Filipino ancestors respected nature, as they believe that even things from nature have souls of their own.

Another Filipino artifact that exhibited the country’s maritime history is the Balangay, which is one of the most ancient boats in the Philippines that used celestial navigation.

It is a type of lashed-lug boat built by joining planks edge-to-edge using pins, dowels, and fiber lashings.

The boats were finely manufactured without any blueprints and were taught to be made from one generation to another.

The Filipino balangay was used largely as trading ship up until the colonial era.

It was navigated by the old method used by the ancient mariners— steering by the sun, the stars, the wind, cloud formations, wave patterns and bird migrations.

The country’s maritime culture is reflected in its status as one of largest supply countries for all seafarers (officers and ratings).

However, despite its glorification due to economic returns, a job of a seafarer is not exactly a walk in the park.

The maritime profession has always been identified as a high-risk workplace replete with health and safety hazards in relation to the risks of accidents, illnesses and mortality.

The seafarer is often mentally, physically and emotionally stressed, aside from being constantly exposed to a variable environment while working on board vessels that cross ocean boundaries.

The European Maritime Safety

Agency reported 745 work-related fatalities among maritime workers and nearly 9,000 persons injured between 2011 and 2020, among other tragic statistics in this sector.

Under the Philippine Overseas Employment Administration standard employment contract, in the case of a seafarer’s work-related death during the term of his contract, the employer shall pay his beneficiaries the Philippine currency equivalent to the amount of $50,000 and an additional amount of $7,000 to each child under the age of 21 but not exceeding four children.

The amount usually is higher if the death is covered by a Collective Bargaining Agreement (CBA).

The POEA contract is designed primarily for the protection and benefit of Filipino seafarers in the pursuit of their employment on board ocean-going vessels.

However, the right over death benefits has also become a long legal battle for some families of deceased Filipino seafarers.

As the employer does not hesitate to harness its immense resources to limit its liability, the claims process has become more litigious, allowing employers to question how the seafarers’ fate and misfortunes are work-related.

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

www.businessmirror.com.ph

Opinion

Fearless forecast 2021

RSA’s gift of peace and security for SMC

BusinessMirror

Dr. Carl E. Balita

Dr. Jesus Lim Arranza

MAKE SENSE

Entrepreneurs’ Footprints Concluded from yesterday

8)

Sales of mobility vehicles and maintenance service repairs will grow. From cars to motorcycles used in logistics business to bicycles used for mobilit y and healthy lifestyle, the need for maintenance repairs and parts will peak as the wear and tear is expected after months of use and abuse. Skilled community repairmen will benefit from this if they will guarantee reliable services.

9) Bazaar organizers, small supermarkets and market cooperatives will collaborate with homeowners for a more controlled mobile selling within a small trading community.

Once these transient transactions prove sustainable, the high-street active hyper-local community-clustered enterprises will be institutionalized and will emerge as the new community commercial centers.

10) Brands will invest more on logistical vehicle (than rental and interiors) and on hiring more motorcycle riders (than waiters for restaurants and salesladies for retail stores) so that deliveries may be given for free.

The market is beginning to realize that the cost of goods suffers from the cost of delivery, which, unfairly, is borne by the customers. In crisis, the proposition of anything free becomes attractive.

11) Social entrepreneurship is the new success secret. Without a good story to tell and without social purpose being authentically great, only price matters. The millennials and the GenZ-ers are attracted to support neither the logos in the brand nor the impressive endorsements by celebrities of what they buy but by the purpose for which the brand and the

enterprise exist. Social purpose, like advocacy for people and planet over profit, attracts their patronage and they are very diligent in confirming its authenticity.

12) Value for money and experience are the new formula for marketing. The example is the refilling stations for recurring needs like shampoo, alcohol, soaps, cleansing liquid will be on the rise not only for its lower price but also for its environmental value proposition. Water refilling stations, however, are challenged by more advanced and reliable water filtration and disinfecting systems. Tourism had suffered but may bounce from the public’s hunger for some staycation experience in a place that is less crowded, accessible without much inconvenience of costly tests, but is assuring of safety.

Entrepreneurs do not deserve the title unless they are willing to take the risks and to fail. They leave footprints in the past, showing they failed, but such failures made them stronger and more resilient. These entrepreneurs will continue to leave footprints on less traveled roads.

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

2020 saw the return of the state Leviathan

By Ferdinando Giugliano Bloomberg Opinion

L

ike wars, pandemics drive changes that are bound to outlast them. The Black Death in the mid-14th century helped raise wages across Europe, since labor had become scarce and workers could command a premium from landowners. Similarly, the Covid-19 crisis looks set to have long-term consequences on the economy—in no small part because of how much power the state has seized across much of the rich world. Unless managed carefully, this return of the Leviathan could hamper economic growth and productivity for many years to come.

The pandemic prompted governments to intervene in two primary ways: Politicians issued unprecedented restrictions, such as lockdowns, on companies and individuals to slow contagion and reduce pressure on health-care systems. At the same time, they provided large-scale economic support, including loan guarantees and equity injections, to struggling businesses. In Europe, the bloc temporarily loosened its stateaid rules so it could deploy this allimportant safety net.

The case for such public intervention in the economy was overwhelming. Throughout history, pandemics have been temporary shocks, with life returning to normal once the health crisis ended. So it would make no sense to let viable businesses go to the wall only because they face passing liquidity constraints. A wave of bankruptcies would simply delay the expected economic recovery.

However, European governments seem reluctant to play only a temporary role in supporting businesses.

Even before the Covid crisis, the view gaining popularity was that the market by itself could not be trusted to deliver prosperity. After the financial crisis, regulators intervened to

fix the flaws in the banking system.

Politicians, especially in the European Union, had begun to target “Big Tech” companies, as they feared their growing dominance would unfairly squeeze out competitors.

The pandemic has strengthened this belief that the government must step in. From Italy to the UK, politicians increasingly see themselves as better than private entrepreneurs at investing in winning technologies of the future. In Britain, the government has been at loggerheads with the EU in Brexit negotiations over its plans to relax state aid rules to invest heavily in the tech sector. In Italy, Cassa Depositi e Prestiti SpA, the state lender, has become the central player in several industrial battles, as it aims to expand its remit further into telecoms and highways.

Of course, the public sector has a role to play in helping the economy recover from Covid-19. This goes beyond providing unemployed people with a livelihood. “Operation Warp Speed” in the U.S. and Germany’s financial support to BioNTech SE both helped accelerate the development and distribution of Covid vaccines.

But the risks of a return to the old interventionist ways that characterized Britain in the 1970s and Italy in the 1980s are just around the corner. British Leyland, the troubled car company, and Alitalia SpA, Italy’s chronically loss-making airline, are two reminders of how nationalizations can lead to endless waste of public money without any real turnaround.

Should governments fail to relinquish control of failing businesses after the pandemic, it would add substantive costs to public purses at a time when that money could be directed toward helping families directly. Competition would suffer, especially if political connections become more important than efficiency in getting access to public resources and procurement.

A

S we hope and pray for the coming of a safe and prosperous New Year, I strongly believe, as a Catholic, that sharing is a most hallowed way of celebrating the Advent season. Let me therefore share my thoughts about Ramon S. Ang or RSA as he is fondly called by friends and business associates.

As part of the late Ambassador Eduardo “Danding” Conjuangco’s management group, I saw in RSA during his younger years, his commitment and dedication for work, including his determination to succeed in whatever endeavor he gets involved in.

I saw his management style in handling and untangling business situations that eventually led to his being named President and Chief Executive Officer of Top Frontier Investment Holdings, Inc., the larg-

est shareholder of San Miguel Corp.

(SMC). As such, he sits as Vice-Chairman, President and Chief Operating Officer of SMC and the Chairman of Cyber Bay Corp. and Eagle Cement Corp. All these, he attained through hard work, keen business foresight and strategic implementation of programs and projects.

And when SMC proposed to develop what would be the country’s most modern and biggest airport in Bulacan, Bulacan, I believe that RSA, as SMC President, must have

Wednesday-Thursday, December 30-31, 2020 A11

considered the investment and environmental risks of the projects.

I know RSA to be a canny person. He would not have engaged SMC into such a huge investment project without pondering on all the possible issues that would go with building the country’s biggest airport.

Like how he saved the jobs of all SMC employees as the world, including the Philippines, faced its biggest challenge with the pandemic.

According to an Inquirer Online report, all 66,000 employees of the nation’s most diversified company continue to receive their salaries in full. And, already, San Miguel has released full compensation with benefits amounting to over P3 billion for all its 66,557 employees, consultants, and contract workers, the report further said.

Moreover, knowing that many SMC employees only depend on their salaries for their family’s survival, RSA even told them not to worry about their jobs. Would this not make RSA a reasonable and sensitive executive and businessman?

The new power in the world Msgr. Sabino A. Vengco Jr.

Alálaong Bagá

I

T is with the solemnity of the Epiphany of the Lord, popularly known as the feast of the Three Kings, that we commemorate the visit of the Magi to the Baby Jesus as the glorious manifestation of God to all the peoples of the world (Matthew 2:1-12). This self-revelation (epiphania in Greek or pagpapakita in Pilipino) of the Savior was already a most important feast in the East, long before Christians in the West introduced the celebration of Christmas.

The face-off Two kings are in a face-off in this story by Matthew. On the one hand is Herod, King of the Jews and called the Great, a vassal of the Roman Emperor since 40 B.C.E., a survivor-type in the intrigue-rich world of despots, a builder of grandiose constructions focused on fortification, whose hold to power was his principal concern.

This explains why he was “greatly troubled and all Jerusalem with him” at the news about the newborn “King of the Jews.” Like so many earthly potentates, the elimination of a perceived rival is paramount.

He employed list and deceived those looking for the baby king by feigning

interest to revere the baby and so to get his hands at the “baby danger.”

He consulted religious experts to plan with precision his dark design.

Eventually in a panic he would resort to the mass murder of innocent children in pursuit of his futile selfpreservation.

The newborn child of Mary, on the other hand, the alleged King of the Jews, is lying on a manger, born in the poverty of his plebian parents, posing no physical danger to the throne of any earthly king. Yet this child was feared precisely because his type of kingship is not based on any human patronage or machination but altogether on another plane

that challenges and radicalizes the core of every human being. He does not maintain himself in power by means of a ruthless security force or a program of power-displays to cow the people into submission or to beguile them into willing surrender.

He presents himself to the world lying on a manger, meaning he is the life and nourishment for God’s precious flock because he is willing to love to the extent of self-oblation.

It is not the terror of death but the gospel of love and life that he offers humankind.

The wise men

There were wise men (magi in Latin) from far corners of the Earth who came looking for the infant king.

Their search and hunger for the one signified by the star they observed was so overpowering, they braved the unknown and left the security of their homes. There lies their wisdom. What does anything else matter, if life is without any transcending meaning and goal? And what one is not ready to risk everything for is not really it. To have looked for it and found it was their life’s accomplishment of ultimate and eternal value.

They were successful in offering their gifts, their faith, to the newborn Savior of the world.

The wise men came upon the like

The demise of SMC’s top man Eduardo “Danding” Conjuangco has placed RSA as the most likely successor of Conjuangco in the SMC hierarchy. I don’t want to be judgmental, but what I saw in RSA’s work style as a top executive, businessman, manager and investor is something that should give SMC shareholders peace of mind. And as he continues the programs of his predecessor, RSA could efficiently and successfully bring SMC to new investment fronts and milestones.

In short, with RSA leading SMC, its investors and employees can celebrate this year’s Advent season amid a pandemic, without having to worry about their investments and jobs.

And for that, I congratulate RSA for a job well done.

Merry Christmas everyone and lets all stay safe.

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

of Herod, but they did not give up what they believed in. They maintained their innocence, even naively asking for assistance from the very persons upset by their quest. They persevered in their intention and were not let down. The star was there still and again, because the guiding star is never actually away for those who search for the truth in the marvels of creation and in the wisdom of human cultures. They continued to be attentive and obedient, knowing they would remain in need of guidance. They did not return to foxy Herod; they had enough of him. A wise move.

Alálaong bagá, in life we are challenged to search for the life and happiness that truly last. Our Christian faith and wisdom tell us that the Son of God was born one like us to manifest and share with us the life-giving love of God. Amid our human darkness, there is now the light guiding all peoples to be wise and live in communion with God. We offer our adoration only to the Child on the manger, whose love is now the real life and power in the world.

Join me in meditating on the Word of God every Sunday, from 5 to 6 a.m. on DWIZ 882, or by audio streaming on www.dwiz882.com.

America can’t compete with Chinese tech by walling itself off Noah Smith

BLOOMBERG VIEW

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he election of Joe Biden will not end the US-China trade war.

Biden has already vowed to keep outgoing President Donald J. Trump’s tariffs as leverage for negotiations. That signals the dawn of a permanent new era of economic competition between the two superpowers. But beyond the flashy, headline-grabbing issue of tariffs and trade deals, there’s another, more important economic struggle being waged—the battle to control technology industries.

And the US is deploying some very risky weapons to win it.

As China approaches technological parity with the US in a variety of high-value industries, the US has acted to maintain supremacy. Under Trump, the Committee on Foreign Investment in the US (CFIUS) dramatically stepped up its blockage of Chinese acquisitions of US companies—a major way that China appropriates advanced technology.

Though natural security is the official justification for this, retaining US commercial dominance is undoubtedly an additional goal.

CFIUS’s tougher approach will probably continue under Biden. This is probably a smart move, as Chinese acquirers have little to offer the US

tech industry except capital, and it’s already awash in that, thanks to low interest rates and continued inflows of foreign and domestic money. But what’s less obviously smart is Trump’s other big weapon against the Chinese tech industry: export controls.

Export controls prevent US companies from selling technology to Chinese companies. Although China is getting more advanced, its flagship companies still depend on various specialized hardware and software products that are only produced by one or two highly specialized companies in the US or other developed nations—for example, equipment used to make semiconductors. Blocking

the flow of these products can severely hamper a Chinese company’s business. This weapon was first wielded against Huawei Technologies Co., China’s premier telecom equipment maker and the leading contender in the race to supply 5G technology. For a while it looked as if Trump had relented, but this fall he cracked down even harder.

The controls have succeeded in hurting Huawei’s business substantially, at least in the short term. That has apparently encouraged Trump to double down on the tactic. His administration recently extended export controls to more than 60 Chinese companies, including flagship semiconductor maker SMIC and world-beating drone maker DJI. The official justification is these companies’ involvement with the Chinese military. But the latest round of controls also seem aimed at preventing China from gaining dominance in any high-value, high-tech industry.

This is a very dangerous game.

Stopping trade secrets from leaking from the US to China is one thing.

But trying to smash the Chinese tech industry is a far taller order, and it seems unlikely to succeed.

Countries specialize when they trade with each other. The US is great at software, Japan at car manufacturing, Taiwan at making semiconductors, and so on. For China to be

integrated with the world economy while not specializing in any internationally competitive high-tech products at all would be extremely strange. China is no longer the lowcost assembly platform it was in the 2000s, slapping together iPhones with components made in Korea and Japan; its tech talent and accumulated knowledge are now world-class.

Someone, somewhere, will want to buy Chinese tech products, and the US won’t be able to stop them.

And in the meantime, export controls are hurting US companies.

If China can’t buy high-tech equipment, semiconductors, and software from the US, then it will go buy them from Japan or Europe or elsewhere.

Or if the US manages to block that too, then China will simply learn how to make the products itself. The main enduring result will be a loss of revenue for American manufacturers, who will now be permanently shut out of the Chinese market.

Thus export controls could easily end up hurting the US more than China. The Peterson Institute for International Economics reports that as of July, China accounted for a quarter of US semiconductor manufacturers’ revenues, but China only got 5 percent of its semiconductors from the US. So American suppliers can be replaced more easily than the Chinese market can.

A12 Wednesday-Thursday, December 30-31, 2020

Janssen gets FDA nod for trial; China vax entry probed

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By Claudeth Mocon-Ciriaco | Correspondent & Bernadette D. Nicolas @BNicolasBM

HE Janssen Covid-19 vaccine candidate has received the green light from the Food and Drug Administration (FDA) for the conduct on an independent trial in the country by first week of January, Director General Eric Domingo said on Tuesday. This, even as revelations that certain government officials and close-in security aides of President Duterte had already received an unnamed vaccine without FDA sanctions continued to draw controversy.

On Tuesday, Bureau of Customs officials said they were probing the circumstances by which certain vaccines had entered the country from abroad, in apparent violation of usual procedures.

Meanwhile, FDA’s Domingo also said that the Department of Science and Technology (DOST) will be looking for the site where Janssen’s clinical trials will take place.

Recruitment for the subjects for such trial will also begin.

“We received three applications for clinical trials here and yesterday [December 28], we approved one,” Domingo said, referring to Janssen, in an online forum of the DOH.

As for the possible vaccine smuggling, Customs Assistant Commissioner and spokesman Atty. Vincent Philip C. Maronilla told the BusinessMirror the instruction to look into the issue was given by Customs Commissioner Rey Leonardo B. Guerrero during their executive committee meeting on Monday.

While Maronilla has yet to disclose the initial findings of the inquiry, he said the instruction was to finish the inquiry “immediately.”

In a separate radio interview on Tuesday, Maronilla said it is still too early to jump into conclusions that the vaccines used on certain

individuals were smuggled or did not pass Customs but he said they are already coordinating with the FDA and the Department of Health (DOH).

Maronilla said they are also checking their own records.

“What our President said about some soldiers having been given shots, we still have to find out in what context were they actually given the vaccines,” he said, in Filipino, adding that “certain processes or, for example trial runs may have been done.” While stressing he wasn’t prejudging the issue, he took pains to indicate that there may be some justification for the vaccines’ entry, “but again we will have to look into it.”

He also said they are looking into their own processes in the bureau to come up with clearer and specific procedures as he said it is possible that these vaccines were misdeclared or there was a misunderstanding on the representation of its use, especially given that concessions were granted under the Bayanihan to Recover as One Act for the government to ensure the speedy release of medical supplies and equipment in response to Covid-19 pandemic.

If it’s proven, though, that the vaccines were brought into the country without proper approvals, Maronilla said those responsible may face charges for violating the

Customs and Modernization Act for smuggling.

They may also face civil, criminal, and administrative charges for violating special laws on bringing in illicit medicines.

FDA Director Domingo earlier said those who received the vaccine did not commit any violation.

What is prohibited, Domingo said, is importing, distributing, and dispensing of unregistered drugs. The FDA said the commission of such prohibited acts may lead to possible liabilities provided under the law.

Duterte revealed in his public address last Saturday that some soldiers were inoculated with the vaccine from Chinese drug maker Sinopharm.

Defen se Sec ret a r y De l f i n Lorenzana has also 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.

Durante said they were aware of the possible risk of using new vaccines.

China vaccine candidates

According to Domingo, the applications of Sinovac Biotech and Clover Biopharmaceuticals, two vaccine candidates developed by China, are still pending.

AS BORROWINGS RISE 3-FOLD, SOLON SAYS: DON’T FEAR DEBT

By Tyrone Jasper C. Piad @Tyronepiad

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O not fear debt even during a crisis, House Ways and Means Chairman Joey Sarte Salceda said amid the recent threefold increase in government borrowings.

In his white paper titled “The Great Reset: How Covid-19 Changed Macro-Fiscal Policymaking, And the Post-Covid-19 Future,” the Albay 2nd District representative explained that debt can fund programs and initiatives for economic growth, which is a must to recover from the pandemic in the coming year.

“Debt can be used as an instrument of growth, and must at all times be evaluated in view of the future income it can create.

It should not always be feared, but it should always be used for wise spending,” he said.

Salceda stressed that borrowing can help the economy during a crisis if it will be spent “to earn more in the future.”

“I would argue that now is the best time to borrow, when interest rates are still very low, but the vaccine is already there.

The impact of public spending will be bigger than during the height of restrictions,” he said.

“The usual fears that come with large public borrowing, namely high prices and a decline in confidence in the borrower, did not happen,” Salceda added.

This week, the Bureau of

the Treasury reported that the government’s gross borrowings grew by three times to P3.048 trillion in January to November from P981.9 billion in the same period last year.

It is also slightly above the all-time-high nominal P3-trillion borrowing programmed for 2020.

Broken down, most of the borrowings were from the local debt market amounting to P2.46 trillion via retail Treasury bonds, fixed-rate treasury bonds, short-term borrowings from the Bangko Sentral ng Pilipinas (BSP) and Treasury bills.

Gross foreign borrowings for the period, meanwhile, reached P583.64 billion.

In addition, the Philippine government is currently seeking approval to borrow $325 million from the Asian Development Bank to fund its Covid-19 vaccine procurement.

Household income

Salceda’s white paper also cited the importance of protecting the household income to boost consumption, a major component of the country’s gross domestic product.

“Above all things, policymakers must protect household income, especially in consumption-driven economies, for household income drives firm activity in such economies,” he said.

Continued on A2

Continued on A2

Households with children, pregnant women hurt by food insecurity in pandemic

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EVEN in 10, or 74.7 percent of households with children, and eight in 10, or 80.8 percent of households with pregnant members, experienced the highest food insecurity during the Covid-19 pandemic.

This was gleaned from the Rapid Nutrition Assessment Survey (RNAS) of the Department of Science and Technology’s Food and Nutrition Research Institute (DOST-FNRI).

The survey report was disclosed during a virtual presser “Food Security, Coping Mechanisms and Nutrition Services during the Covid-19 Pandemic” on December 29.

Science Secretary Fortunato de la Peña, who presented the report, said, “Employment, food security, food accessibility, access to health and nutrition programs for children, including pregnant women, are priority concerns during the pandemic and disasters in areas covered by RNAS.” He said “these priority concerns may increase the percentages of nutrient deficiencies and undernutrition, leading to frequent illness that weakens the immune system, that increases susceptibility to Covid–19 and other viral infections resulting in tremendous medical cost, lost opportunities, and economic drain.”

The DOST’s “call to action, in terms of policy implication,” based on the study results, de la Peña pointed out, is that “donations, government services and benefits must be decentralized from the Highly Urbanized Cities [HUCs] and extended equitably to provinces with less resources and with minimal or no benefactors.”

De la Peña said the DOST provided programs and projects nationwide to help cushion the impact and help Filipinos cope with the challenges of the pandemic and disasters.

He said the public can have ac-

cess to these services through the provincial and regional offices of the DOST. Dr. Imelda Angeles-Agdeppa, DOST-FNRI chief science research specialist, Scientist II and RNAS Project Leader, said in the same virtual briefing that the RNAS “provides a snapshot of the nutrition and food security situation of the country during the Covid-19 pandemic.“ The study was held from November 3 to December 3. It covered 5,717 households, or 7,240 individuals, through telephone interview.

Angeles-Agdeppa added that the findings of the RNAS ”can aid policymakers in understanding the impact of the Covid-19 pandemic on food and nutrition security of Filipinos and guide reprogramming and enhancing of appropriate programs.”

Job loss

According to the study, about 2 in 10, or 16.7 percent, of household heads lost jobs, which was highest at 18.1 percent in Covid-19 highrisk areas.

However, about 17 percent had job opportunities, which was highest in Covid-19 medium-risk areas at 18.6 percent, mostly service- and agriculture-related, the study revealed.

Food insecurity higher in low- and medium-risk areas

The survey also showed that 6 out of 10, or 62.1 percent of households, experienced moderate or severe food insecurity.

Food insecurity was higher in low- and moderate-risk than in the high-risk areas.

This was explained by the situation that high-risk areas are in HUCs, where food availability and accessibility are easier due to local government unit (LGU), national government, or private assistance.

Continued on A2

Social distancing markers line the floor leading to the Immigration counter in the almost-empty Terminal 1 of the Ninoy Aquino International Airport in Pasay City, as the Philippines joins the growing list of countries restricting flights to and from the UK after a new, more transmissible strain of the coronavirus was discovered in Britain. See story on expanded travel ban, on page A2. NONIE REYES

₧500.7B so far released for Covid-19 response–DBM

By Bernadette D. Nicolas

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@BNicolasBM

HE Department of Budget and Management (DBM) has so far released P500.7 billion for the government’s fight against the Covid-19 pandemic.

Broken down, the bulk or 77.12 percent of Covid-19 allotment releases by the DBM went to Bayanihan 1, which amounted to P386.14 billion.

Meanwhile, Bayanihan 2 releases reached P107.96 billion and P6.589 billion for Post-Bayanihan 1.

Days before the last day of effectivity of Bayanihan 2 on December

19, the House of Representatives adopted the Senate version of the measure extending the appropriations under the Bayanihan to Recover as One Act in order to fasttrack transmittal of the measure to the Palace.

However, President Duterte has yet to sign the measure.

The Bayanihan 2 earmarked P140 billion in regular appropriations and a standby fund of P25 billion to cushion the effects of the pandemic.

Out of the P140-billion allocation under Bayanihan 2, P103.24 billion was released by the DBM. The remaining P4.73 billion was charged to regular funds under the

2020 national budget in line with Bayanihan 2.

The budget department has released special allotment release orders (Saros) for Bayanihan 2 to 17 government agencies. Saros are issued by DBM to authorize agencies to incur obligations not exceeding a given amount during a specified period for the purpose indicated.

The Department of Agriculture received the biggest amount under Bayanihan 2 at P23.29 billion, followed by Department of Health (P22.5 billion), Department of Labor and Employment (P16.4 billion), Department of Finance (P12.03 billion) and Department of Transportation (P10.31 billion).

In terms of funding source for the overall Covid-19 releases, 61.3 percent or P306.7 billion came from discontinued programs, activities, and projects of the government under the 2019 and 2020 national budgets, while 21.83 percent or P109.3 billion was sourced from a special purpose fund.

The rest of the funds were sourced from unutilized automatic appropriations and collections beyond targets under the Budget of Expenditures and Sources of Financing, as certified by the Bureau of the Treasury (P63.478 billion) and from regular agency budget under the 2019 and 2020 national budgets (P21.22 billion).

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Companies BusinessMirror

Wednesday-Thursday, December 30-31, 2020

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Vista Land’s bullish about ’21 prospects as sales climb

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By VG Cabuag

@villygc

ISTA Land and Lifescapes Inc., the property development firm of the Villar group, said it is optimistic of its 2021 performance as it managed to recover from the devastation on the industry brought by the pandemic.

“While Covid-19 continues to impact our performance, both on our leasing and residential businesses, we also have seen a number of positive signs of recovery since

the reopening of the economy last June. The upward trend of our reservation sales were sustained and are now at 70 percent of preCovid level,” Manuel B. Villar Jr.,

the company chairman, said.

This prompted the Vista Land to restart launching residential projects in its existing land banks, since 55 percent to 60 percent of its sales are coming from overseas Filipinos, he said.

“The resiliency of the OF remittance, which amounted to $24.6 billion and are down only 1 percent as of end October 2020. helped in the sales uptrend.

“As for our leasing business, our operational gross floor area has increased to about 95 percent as government-imposed restrictions started to ease and we are experiencing over half of pre-covid level foot traffic. System-wide occupancy rate is steady at 89 percent,” he said.

For his part, Manuel Paolo A. Villar, Vista Land President and CEO, said, “The continued price increase for house and lot products in the provincial areas as shared by Bangko Sentral ng Pilipinas [BSP] bodes well for the company.”

In a recent report, BSP said that for the third quarter, prices for single detached/attached housing units have increased 7.4 percent while residential properties outside NCR went up 6.4 percent from the same period last year.

“Vista Land is the biggest homebuilder with the widest geographic presence among others. We generate over 50 percent of our real estate revenues outside the Mega Manila area,” the younger Villar said.

ERC widens RCOA implementation T HE Energy Regulatory Commission (ERC) recently promulgated the Resolution expanding the coverage of the Retail Competition and Open Access (RCOA) pursuant to its mandate to promote competition and ensure the successful restructuring and modernization of the electric power industry.

The regulator draws such mandate from Section 31 of the Electric Power Industry Reform Act (Epira) and Rule 12 of its Implementing Rules and Regulations (IRR).

“The expansion of the RCOA coverage is the embodiment of the pira’s end-goal of achieving competition at the retail or end-user level.

Promoting robust and fair competition among the market participants

is definitely one of the significant considerations that the ERC is eyeing which can help boost further the country’s economy especially in the power industry during this trying times,” said ERC chairman and CEO Agnes VST Devanadera.

The new resolution prescribed the latest coverage of the RCOA, which shall be expanded to cover end-users with an average monthly peak demand of at least 500kW for the preceding 12 months, which is Phase III, on a voluntary basis. Based on that threshold, all qualified end-users may be considered contestable customers under the Phase III threshold level (500kW-749kW) and shall be allowed to switch to the Competitive Retail Electricity Market (CREM) starting 26 February 2021.

The expansion of the threshold arose from ERC’s thorough evaluation and study of the market’s readiness, the necessary infrastructure, customer awareness, and the economic impact of the migration of contestable customers towards CREM, in support of the National Government’s thrust towards economic recovery.

“Based on our data as of November 2020, the weighted average price in the Competitive Retail Electricity Market or the CREM for Phase 1 [those consuming 1 MW and up] and Phase 2 [those consuming 750 kW] is PhP3.63/kWh, which is lower than the Generation Charge billed by DUs for the captive market, for the same period, in Luzon and Visayas which ranges from PhP3.9513/kWh

to PhP5.0985/kWh. We expect that competition will be stronger and the supply of electricity will become more affordable and reliable as RCOA becomes more popular in the coming years,” Devanadera explained.

At present, the RCOA scheme is operational, and shall remain in effect, in the Luzon and Visayas grids.

“Indeed, the RCOA has gained ground and the intent of the Epita was achieved for the Phases 1 and 2.

We are optimistic that the expanded RCOA implementation will result to further reduction in electricity rates, which will encourage more investors in the country and bring more job opportunities. This will definitely aid the country towards economic recovery from the negative impacts of this pandemic,” Devanadera concluded.

New Clark International Airport showcases the best of C. Luzon

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SERIES of glorious peaks greets travelers as they approach Pampanga, one of the country's most historic Luzon provinces. These peaks of Mt. Arayat and the Zambales mountains are gods of folk tales that stand as guards of the province and the people.

The majestic silhouettes of these mountains are reflected in the sprawling new terminal of the Clark International Airport, reflecting a deep sense of place.

Other features of the province— Mt. Pinatubo and the serene Sacobia riverbed—provide are also reflected in the interior design of vital sections of the airport.

Bundled with the ease and the comfort to be accorded to travelers in this new terminal, the design inspirations all come together to make the experiences at the new Clark International Airport pleasurable and meaningful, according to officials.

With construction starting under the Duterte administration, the completed structure of the new terminal is currently undergoing the fitting of all necessary installations and the preparation of the operational readiness protocols , according to Bi Yong Chungunco, CEO of the Luzon International Premier Airport Development Corp. (LIPAD).

LIPAD is in charge of the airport's operations and management.

Terminal building construction was accomplished by Megawide–GMR, structural design by Budji + Royals.

For the fit-out and interiors, LIPAD appointed international design firm Populous together with Casas + Architects.

Formal handover of the terminal building by the Bases Conversion and

The new terminal’s Arrival Corridor and Immigration Hall are clad in soft grey and cream colors, mimicking hues on rock formations by the mountainside, and by the riverbed unique to the surroundings. CONTRIBUTED PHOTO

Development Authority (BCDA) to LIPAD for fit-out and installations is to be scheduled soon.

The new, fully fitted and expansive international airport in Pampanga, with increased levels in logistics capacity, technology, and total service offerings, marks a milestone in aviation history. Its predecessor facility, the former Clark Air Field, was the home base of the 13th US Air Force, then the largest US airfield outside of US soil. Its transfer to the BCDA, after the withdrawal of the bases from the Philippines, coincided with other developments in the area to usher in a new phase for Pampanga and the rest of the country.

As the new Clark International Airport opens to the world as the premier gateway to Asia, new records in economic and social development for Central Luzon are expected to follow suit.

The new Passenger Terminal Building is 1.5 kilometers from the existing passenger terminal and serves both domestic and international flights, with the boarding

gates for each directionally color coded. It has a design capacity for 8 million passengers per year and has four floor levels, 18 aero bridges and has, in totality, a floor area of 110,000 square meters.

Earth tones and the central color of soft gray grace the terminal floors and pillars in the Check-In Hall. Cool and soothing, accents of green and blue are thrown in to emulate the greenery and Mt. Pinatubo’s crater lake, respectively.

A specific tint of blue that is near turquoise represents the water formation on Mt. Pinatubo crater lake. This tint is likewise present in glass structures situated around the terminal, particularly the Security Screening Area.

The undoubtedly Pampangueño “parol,” or star lantern, with rhythmic display of colors, are hanging fixtures in the central Airside Retail Area. The kaleidoscope-like colors are symbols of family merriment and meaningful moments.

Passengers will also be able to easily decipher international board-

ing gates from domestic boarding gates. A vibrant green dominates the international boarding gates while a serene blue does the same for domestic. The blue refers to the waters of Manila Bay, where the area faces; the green represents the landscape of Mt. Arayat which faces the domestic boarding gates.

Passengers are greeted with a refreshing air of grays and creams at the Arrival Corridor leading up to Immigration. At the Baggage Reclaim Area, passengers are treated with a ceiling design that mimics the jagged stone walling of majestic caves found in Central Luzon.

LIPAD is a special purpose company established to manage the operations and maintenance of Clark International Airport. The members of LIPAD Corporation are Filinvest Development Corporation, JG Summit Holdings Inc., Philippine Airport Ground Support Services Inc., Changi Airports Philippines (I) Pte. Ltd., a wholly owned subsidiary of Changi Airports International.

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Wednesday-Thursday, December 30-31, 2020

Companies BusinessMirror

ERC tells Meralco to refund ₧1.4B in over collections

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HE Energy Regulatory Commission (ERC) has directed the Manila Electric Company (Meralco) to refund to consumers its over collections in the following pass-through charges: Transmission Rate (TR), System Loss Rate (SLR), Lifeline Subsidy Rate (LSR), and Senior Citizen Subsidy Rate (SrCSR).

The ERC, upon review of Meralco’s submitted data for the period from January 2017 to December 2019, validated the over recoveries of P1.4 billion in the said passon charges.

It was also confirmed, however, that Meralco likewise incurred un-

der recoveries of P2.38 billion in the Generation Rate (GR).

“The Commission’s initial evaluation of the documents submitted

by Meralco revealed that it [Meralco] incurred a total over collection amounting to P1.4 billion in the Transmission, System Loss, Life-

line Subsidy and Senior Citizen Discount Rates, but also incurred a total of P2.38 billion under collection in the Generation Rate,” ERC Chairman and CEO Agnes VST Devanadera explained in the recently issued order.

The ERC directed the utility to implement its over and underrecoveries, by way of refunding and collecting the same, subject to the final evaluation by the Commission. ERC ordered Meralco to refund the over-recoveries at an average rate of P0.1331/kWh, for a period of approximately three months until fully refunded, and to collect the computed underrecovery in the Generation Rate, with an equivalent rate of P0.0395/ kWh, for approximately 24 months until fully collected starting on the next billing cycle upon receipt of the ERC’s subject Order. The longer period for Meralco to col-

lect the under charges is meant to protect consumers by mitigating the impact of such under-recovery collection, ERC said.

Moreover, Meralco was directed to reflect the over and under-recoveries in the monthly computations of GR, TR, SLR, LSR and SrSR as “OGA” for Generation, “OTCA” for Transmission, “OSLA” for System Loss, “OLRA” for Lifeline Subsidy, and “OSrRA” for Senior Citizen Subsidy. Meralco must submit within 10 days from its implementation a sworn statement indicating its compliance with the ERC’s relevant Order.

Distribution Utilities (DUs) are required under ERC Resolution 16, Series of 2009 to file their respective applications to the ERC once every three years in order to ensure that the recovery of the said various pass-through costs is fair and proper.

First Circle to provide ₧3-B loans in 2021 A S businesses pave their way toward recovery, First Circle Growth Finance Corp. is eyeing to finance at least P3 billion in borrowings next year for approximately 5,000 customers.

While a complete turnaround is not yet expected for all sectors next year, First Circle Managing Director Moritz Gastl said that there have been early signs of improvements, which could boost demand for borrowings.

“Demand for financing will increase next year as the country is recovering and business need working capital to finance their growth,” Gastl told the BusinessMirror in an e-mail.

The amount of borrowings projected for next year is twice as much as the firm provided in 2020. According to its latest estimates, First Circle approved around P1.5 billion worth of loans this year to over 2,000 borrowers.

The sectors that received the lion’s share of financing—equiva lent to 60 percent—inc luded transport and logistics behind e-commerce businesses, medical and health and essential goods suppliers.

These are the businesses that have “remained open and thrived during

the pandemic,” Gastl pointed out.

The official said that First Circle has enough in its coffers to finance borrowings for next year, noting that existing investors have been providing support.

“We are set up well in terms of financing and are expecting to be able to meet our 2021 financing needs without needing to raise additional funds,” he said.

“We were able to manage the pandemic reasonably well by staying close to all of our customers and really understanding their financing needs,” he continued.

Gastl underscored the importance of extending financing even during an economic crisis, especially to micro, small and medium enterprises, to fund asset growth.

Given the tightening of lending standards for most banks, he said that First Circle was able to step in to meet the demand for loans this pandemic.

“However, we still needed to remain prudent and assess each and every loan application under the ‘new normal’ requirements and see if businesses that were growing fast prepandemic are still viable now,” he explained.

He noted that it is expected to have “a wave of insolvent businesses

whose business model was destroyed

by Covid and that have been able to survive but have depleted cash reserves now and can’t access new financing because their business isn’t viable anymore.”

In November, First Circle renewed its partnership with the Department of Trade and Industry to provide loans to the MSME sector.

First Circle and DTI signed their first memorandum of understand-

mutual funds

ing back in 2018 in a bid to promote financial literacy and access to the said industry.

From October 2018 to July this year, the finance firm had extended borrowings to 6,000 SMEs and disbursed over 16,000 loans. In terms of amount, First Circle has provided P4.5 billion worth of loans to the MSME industry since the contract signing a few years ago.

Tyrone Jasper C. Piad

December 29, 2020

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December 29, 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

42.7 106.8 81.35 24.9 10.78 49.05 11.6 29.35 53.65 101 18.88 133.8 71.9 0.86 31.7 0.63 3.99 1.66 0.37 760 0.66 153.7 1,965 1.04

44.9 106.9 81.9 24.95 10.8 49.2 12.8 29.5 54.6 120 19 134 71.95 0.91 34 0.72 4.09 1.68 0.375 810 0.67 153.9 2,000 1.1

43.35 104.5 81.45 24.75 10.64 49.25 11.6 29.55 53.05 101 18.9 135.3 71.9 0.99 32 0.67 4.24 1.85 0.38 820 0.68 153.6 1,965 1.1

44.9 107.6 82.45 25 10.86 49.45 12.8 29.95 54.6 120 19 135.3 71.9 1 34 0.72 4.24 1.85 0.38 820 0.68 154 2,044 1.1

42.5 104.5 81.2 24.75 10.64 49.05 11.12 29.25 53.05 101 18.88 133.5 71 0.9 31 0.66 3.9 1.61 0.37 820 0.61 153.5 1,965 1.04

44.9 106.8 81.35 24.95 10.8 49.05 12.8 29.35 54.6 120 18.88 134 71.9 0.91 34 0.72 4.08 1.68 0.375 820 0.67 153.9 2,000 1.04

23,400 2,768,820 2,363,730 53,400 972,200 2,710,400 110,000 209,800 11,700 9,860 44,000 1,032,530 53,190 223,000 26,900 727,000 330,000 812,000 1,640,000 30 418,000 5,600 25 5,000

1,014,405 294,847,331 193,322,485 1,329,055 10,429,316 133,415,050 1,371,100 6,179,890 633,105.50 1,151,016 833,060 138,679,070 3,794,558 204,250 869,215 509,890 1,325,080 1,357,320 611,100 24,600 272,630 859,721 50,045 5,320

69,130 58,894,692 -2,472,793.50 782,870 -1,451,124 -18,027,710 1,195,666 -854,880 -132,306 -28,569,755 237,499 -3,600 77,250 469,710 -

INDUSTRIAL AC ENERGY 8.99 9 8.1 9.05 8.1 9 54,844,400 480,598,219 1.35 1.36 1.31 1.36 1.25 1.36 6,619,000 8,548,600 ALSONS CONS ABOITIZ POWER 26.55 26.9 26.6 26.9 26.5 26.55 1,674,600 44,585,625 28.15 28.35 28.55 28.85 28.15 28.15 492,200 13,977,465 FIRST GEN FIRST PHIL HLDG 75.8 77 75.5 77.05 75.5 77 215,210 16,545,360.50 291.8 292 290 293 289 292 333,660 97,296,312 MERALCO MANILA WATER 15.52 15.98 15.6 15.98 15.48 15.98 1,477,200 23,189,358 PETRON 3.97 3.99 4 4 3.95 3.99 3,997,000 15,923,790 3.38 3.74 3.42 3.74 3.36 3.74 406,000 1,468,470 PETROENERGY PHX PETROLEUM 12.48 12.5 12.02 12.5 12 12.5 164,600 2,009,030 20.6 20.65 20.5 20.8 20.3 20.65 402,800 8,301,480 PILIPINAS SHELL SPC POWER 9.8 9.82 10.2 10.2 9.72 9.82 1,518,400 14,857,108 14 14.12 14.12 14.12 14.12 14.12 600 8,472 VIVANT AGRINURTURE 7.84 8 8.02 8.09 7.81 8 927,100 7,423,814 AXELUM 3.43 3.5 3.41 3.5 3.31 3.5 2,619,000 8,947,090 14.64 15 15.26 15.26 14.64 14.64 7,600 112,648 CNTRL AZUCARERA CENTURY FOOD 17.5 17.54 17.48 17.6 17.48 17.5 2,066,200 36,189,220 7.21 7.3 7.5 7.5 7.2 7.21 320,000 2,324,819 DEL MONTE DNL INDUS 7.66 7.7 7.32 7.7 7.31 7.7 5,326,600 40,250,936 10.08 10.1 9.91 10.1 9.91 10.1 9,229,900 92,254,081 EMPERADOR 67 67.45 68.5 68.5 65.8 67 212,700 14,243,249.50 SMC FOODANDBEV ALLIANCE SELECT 0.66 0.68 0.67 0.68 0.66 0.66 1,027,000 679,320 1.69 1.7 1.72 1.73 1.66 1.7 26,599,000 44,735,000 FRUITAS HLDG GINEBRA 49.4 49.95 50.4 50.4 49.4 49.4 78,730 3,919,812.50 195.2 196.1 193.4 197 193.3 195.2 702,460 137,468,293 JOLLIBEE LIBERTY FLOUR 38.6 38.65 40 40 38 38.6 11,800 455,910 8.31 8.86 8.31 8.86 8.31 8.86 1,200 10,082 MACAY HLDG 6.89 6.95 7.12 7.12 6.88 6.89 2,015,200 14,000,865 MAXS GROUP MG HLDG 0.218 0.219 0.226 0.226 0.212 0.219 15,560,000 3,405,200 7.65 7.7 7.72 8 7.7 7.7 779,700 6,064,157 SHAKEYS PIZZA ROXAS AND CO 1.29 1.3 1.34 1.34 1.28 1.29 10,839,000 13,997,980 4.55 4.74 4.52 4.55 4.52 4.55 34,000 153,770 RFM CORP ROXAS HLDG 1.63 1.81 1.64 1.81 1.64 1.81 216,000 384,340 0.122 0.128 0.125 0.128 0.122 0.128 1,290,000 159,420 SWIFT FOODS 152 152.5 149.1 152.8 149.1 152.5 856,180 129,873,734 UNIV ROBINA VITARICH 0.91 0.92 0.89 0.91 0.88 0.91 8,755,000 7,843,610 2.4 2.5 2.4 2.5 2.3 2.5 37,000 88,100 VICTORIAS CONCRETE A 53.55 54.9 54.95 55.85 53 53.55 3,500 193,208 55.2 60 60.2 60.2 55.2 60.1 210 12,461 CONCRETE B CEMEX HLDG 1.45 1.46 1.51 1.52 1.44 1.45 22,256,000 32,729,260 DAVINCI CAPITAL 5.15 5.28 5.42 5.42 5.06 5.28 327,300 1,701,016 14.36 14.48 14.5 14.62 14.24 14.48 103,600 1,491,714 EAGLE CEMENT EEI CORP 7.59 7.6 7.6 7.61 7.55 7.59 333,600 2,530,263 7.25 7.26 7.23 7.3 7.02 7.25 4,368,200 31,196,345 HOLCIM MEGAWIDE 7.94 7.95 7.97 7.98 7.9 7.94 5,654,100 44,814,809 9.7 10 10 10 9.55 10 75,100 749,990 PHINMA TKC METALS 0.94 0.97 0.92 0.98 0.92 0.97 119,000 112,140 1.04 1.05 1.2 1.21 1.03 1.05 14,493,000 15,767,220 VULCAN INDL 126.9 139.9 126.8 126.8 126.8 126.8 300 38,040 CHEMPHIL CROWN ASIA 1.87 1.88 1.82 1.87 1.82 1.87 160,000 297,780 2.33 2.34 2.39 2.39 2.31 2.34 874,000 2,035,040 EUROMED LMG CORP 4.44 4.87 4.52 4.52 4.45 4.45 259,000 1,155,890 4.43 4.53 4.53 4.53 4.53 4.53 4,000 18,120 MABUHAY VINYL PRYCE CORP 5 5.01 5 5.05 4.92 5.01 78,500 393,503 CONCEPCION 22.7 23.4 22.65 23.4 22.65 23.4 32,400 739,715 2.59 2.6 2.46 2.6 2.37 2.6 10,923,000 27,347,300 GREENERGY INTEGRATED MICR 9.1 9.12 9.45 9.45 9.1 9.1 1,135,600 10,448,474 1.19 1.2 1.2 1.21 1.15 1.2 1,531,000 1,811,620 IONICS PANASONIC 5.22 5.38 5.22 5.49 5.21 5.39 5,300 27,902 1.51 1.53 1.55 1.55 1.48 1.53 3,425,000 5,201,170 SFA SEMICON CIRTEK HLDG 6.64 6.68 6.62 6.74 6.51 6.64 4,499,700 29,687,035

10,727,585 85,800 -53,875 227,030 -12,672,535 25,984,198 9,341,932 -176,480 4,530 -4,078,045 83,689 29,883 -68,000 22,446,292 28,305,032 816,581 -2,882,583 -3,130,740 50,000 -28,621,342 19,025.00 331,102 17,200 1,395,148 73,650 -16,290 43,185,354 813,740 328,110 -196,208 130,982 36,490 10,333,288 4,165,524 1,000 338,000 209,440 -42,300 -190,740.00 465,910 -1,526,430 129,921.00 17,860 203,210 743,980

HOLDING & FRIMS ABACORE CAPITAL 0.63 0.64 0.64 0.67 0.62 0.64 50,903,000 32,327,500 10.02 10.36 10.44 10.46 9.97 10.38 95,300 981,557 ASIABEST GROUP AYALA CORP 827 830 817 837 817 827 264,770 218,967,865 47.1 47.25 46.8 47.4 46.05 47.25 1,092,300 51,527,735 ABOITIZ EQUITY ALLIANCE GLOBAL 10.6 10.68 10.76 10.8 10.6 10.6 9,935,400 106,274,060 3.39 3.4 3.36 3.47 3.33 3.4 4,300,000 14,532,570 AYALA LAND LOG ANSCOR 6.57 6.68 6.55 6.6 6.55 6.6 38,600 254,625 ANGLO PHIL HLDG 0.76 0.77 0.77 0.77 0.75 0.77 1,060,000 801,200 0.84 0.85 0.88 0.89 0.85 0.85 9,387,000 8,119,120 ATN HLDG A ATN HLDG B 0.85 0.89 0.88 0.9 0.88 0.88 122,000 107,400 5.65 5.68 5.69 5.72 5.64 5.65 2,167,000 12,263,767 COSCO CAPITAL DMCI HLDG 5.66 5.7 5.74 5.74 5.66 5.66 5,932,300 33,808,471 9.44 9.68 9.7 9.7 9.44 9.44 31,400 303,361 FILINVEST DEV FJ PRINCE A 3.03 3.48 2.9 2.99 2.9 2.99 290,000 865,920 0.204 0.225 0.202 0.225 0.202 0.225 170,000 34,570 FORUM PACIFIC 585 590 581 595 581 585 254,200 149,891,120 GT CAPITAL HOUSE OF INV 3.95 4.02 4.02 4.13 3.94 4.02 94,000 374,300 71.6 71.65 71.05 71.9 71.05 71.6 1,001,760 71,668,155.50 JG SUMMIT JOLLIVILLE HLDG 5.2 6.25 5.9 6.21 5.2 5.2 122,800 677,333 4.9 5.19 5 5.19 4.76 5.19 6,400 32,036 KEPPEL HLDG A 5.06 6.15 3.3 6.21 3.3 5.06 10,414,000 49,524,040 KEPPEL HLDG B LODESTAR 0.79 0.82 0.85 0.85 0.8 0.83 1,153,000 933,750 3.71 3.72 3.72 3.73 3.71 3.72 3,965,000 14,749,640 LOPEZ HLDG LT GROUP 13.1 13.2 13.1 13.4 12.98 13.1 1,850,900 24,266,170 0.52 0.54 0.54 0.54 0.52 0.54 163,000 85,280 MABUHAY HLDG METRO PAC INV 4.28 4.29 4.29 4.33 4.26 4.28 18,094,000 77,581,750 3.15 3.19 3.4 3.41 3.02 3.19 359,000 1,145,220 PACIFICA HLDG 0.85 0.86 0.9 0.9 0.86 0.86 392,000 344,230 PRIME MEDIA REPUBLIC GLASS 2.55 3.1 3.03 3.05 3.03 3.05 11,000 33,490 1.12 1.16 1.12 1.13 1.1 1.11 100,000 111,120 SOLID GROUP SYNERGY GRID 237 242 237 242 237 242 270 64,610 1,047 1,049 1,050 1,060 1,042 1,049 248,185 260,662,395 SM INVESTMENTS SAN MIGUEL CORP 128 128.1 128.9 129 128 128.1 183,190 23,518,036 0.71 0.76 0.73 0.76 0.72 0.76 404,000 303,350 SOC RESOURCES 1.85 2.1 1.86 1.86 1.85 1.85 27,000 50,050 SEAFRONT RES TOP FRONTIER 139.3 140 140 141 139.8 140 7,320 1,025,159 0.221 0.224 0.222 0.224 0.22 0.224 280,000 62,010 WELLEX INDUS ZEUS HLDG 0.179 0.184 0.183 0.184 0.177 0.184 1,640,000 294,670

922,180 3,000 24,769,715 29,224,840 -3,927,078 -28,900 148,400 3,611,090 -2,946,213 -38,147,900 -44,220.00 19,879,007.50 -12,390 -4,378,230 402,650 3,961,250 12,160 -45,072,810 -4,099,764 -

PROPERTY ARTHALAND CORP 0.63 0.65 0.62 0.65 0.62 0.65 962,000 607,730 7.85 8.15 8.18 8.18 8.15 8.15 4,200 34,341 ANCHOR LAND AYALA LAND 40.9 41 41.7 41.7 40.9 40.9 6,322,500 260,995,205 1.11 1.24 1.21 1.21 1.19 1.19 68,000 81,120 ARANETA PROP AREIT RT 29.25 29.35 29.3 29.35 28.9 29.35 655,900 19,138,025 1.71 1.72 1.72 1.72 1.68 1.71 291,000 492,970 BELLE CORP A BROWN 0.89 0.9 0.91 0.92 0.88 0.9 6,367,000 5,686,380 CROWN EQUITIES 0.146 0.148 0.15 0.15 0.14 0.146 5,910,000 870,550 5.53 5.9 5.52 5.9 5 5.9 572,100 3,029,393 CEBU HLDG CEB LANDMASTERS 5 5.05 5.01 5.05 4.99 5.05 1,623,000 8,164,005 0.445 0.45 0.46 0.46 0.45 0.45 17,090,000 7,718,800 CENTURY PROP CYBER BAY 0.325 0.33 0.34 0.345 0.325 0.33 7,410,000 2,476,850 14.88 14.9 14.92 15.1 14.8 14.9 2,330,200 34,723,192 DOUBLEDRAGON DM WENCESLAO 7.54 7.6 7.68 7.68 7.32 7.6 342,800 2,572,520 EMPIRE EAST 0.31 0.315 0.315 0.32 0.31 0.315 2,960,000 931,400 0.086 0.087 0.087 0.087 0.083 0.085 1,280,000 109,380 EVER GOTESCO FILINVEST LAND 1.12 1.13 1.11 1.13 1.11 1.12 14,288,000 15,918,460 0.91 0.92 0.93 0.93 0.92 0.92 1,578,000 1,457,520 GLOBAL ESTATE 8990 HLDG 8.02 8.15 8.24 8.24 8.24 8.24 6,700 55,208 1.41 1.42 1.39 1.44 1.38 1.41 6,487,000 9,110,740 PHIL INFRADEV CITY AND LAND 0.72 0.73 0.73 0.73 0.71 0.73 235,000 168,220 MEGAWORLD 4.07 4.08 3.94 4.08 3.91 4.08 30,936,000 125,163,530 0.58 0.59 0.55 0.59 0.52 0.59 259,576,000 143,681,930 MRC ALLIED PHIL ESTATES 0.385 0.425 0.385 0.425 0.38 0.425 220,000 86,500 1.5 1.53 1.5 1.55 1.48 1.5 844,000 1,272,620 PRIMEX CORP ROBINSONS LAND 21.05 21.2 20.6 21.4 20.45 21.2 5,605,600 118,626,160 0.305 0.33 0.305 0.33 0.305 0.33 1,390,000 431,350 PHIL REALTY 1.53 1.54 1.54 1.54 1.53 1.54 351,000 537,780 ROCKWELL SHANG PROP 2.67 2.71 2.71 2.71 2.71 2.71 9,000 24,390 1.97 1.98 1.96 1.99 1.93 1.98 479,000 930,880 STA LUCIA LAND SM PRIME HLDG 38.5 38.6 38.55 38.65 38.3 38.5 9,207,200 354,615,305 4.2 4.24 4.25 4.25 4.15 4.24 191,000 798,120 VISTAMALLS SUNTRUST HOME 1.67 1.7 1.67 1.76 1.65 1.67 3,025,000 5,042,940 4.65 4.68 4.56 4.68 4.56 4.68 7,343,000 34,201,570 VISTA LAND

75,400 10,206,450 -6,478,070 -13,530 472,000 -2,686,550 27,100 67,000 -4,178,898 14,900 50,250 -503,550 1,415,320.00 26,710 -17,799,940 9,116,560 22,640,995 7,700 5,420 9,700 6,558,930.00 36,950 -401,520

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 226.81 -10.37% -8.12% -1.69% -9.94% ATRAM Alpha Opportunity Fund, Inc. -a 1.309 -5.03% -6.54% 2.28% -5.28% ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.1282 -15.35% -11.92% -3.11% -14.95% Climbs Share Capital Equity Investment Fund Corp. -a 0.8009 -11.3% -7.65% n.a. -10.81% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.7415 -13.08% n.a. n.a. -12.69% First Metro Save and Learn Equity Fund,Inc. -a 4.9323 -7.72% -6.25% -1.35% -7.43% First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.7591 -11.39% -8.45% n.a. -11.07% MBG Equity Investment Fund, Inc. -a 100.72 -2.6% n.a. n.a.

-2.42% PAMI Equity Index Fund, Inc. -a 46.7361 -9.21% -6.02% -0.04% -8.86%

SERVICES Philam Strategic Growth Fund, Inc. -a 488.09 -8.76% -6.02% -0.75% -8.39% ABS CBN 11.68 11.74 11.66 11.74 11.66 11.68 264,600 3,095,660 Philequity Alpha One Fund, Inc. -a,d,5 1.0815 5.38% n.a. n.a.

4.99% 6 6.01 5.92 6.02 5.91 6 1,082,200 6,484,778 GMA NETWORK MANILA BULLETIN 0.445 0.45 0.445 0.445 0.445 0.445 360,000 160,200 Philequity Dividend Yield Fund, Inc. -a 1.1624 -10.02% -6.01% -0.24% -9.67% 10.8 11.6 11.6 11.6 11.6 11.6 100 1,160 MLA BRDCASTING GLOBE TELECOM 2,030 2,040 2,032 2,042 2,022 2,030 42,755 86,847,190 Philequity Fund, Inc. -a 34.5984 -9.07% -5.5% 0.4% -8.7% 1,339 1,340 1,340 1,349 1,340 1,340 157,525 211,525,255 PLDT Philequity MSCI Philippine Index Fund, Inc. -a 0.9098 -10.96% n.a. n.a. -10.64% APOLLO GLOBAL 0.128 0.129 0.129 0.144 0.124 0.128 3,239,380,000 434,248,530 CONVERGE 14.9 14.98 15.2 15.24 14.9 14.9 4,100,700 61,587,440 Philequity PSE Index Fund Inc. -a 4.7806 -8.81% -5.47% 0.65% -8.48% 5.15 5.27 5.05 5.3 5.05 5.15 327,300 1,723,702 DFNN INC DITO CME HLDG 10.9 10.96 10 11.52 10 10.9 257,080,800 2,762,857,934

799.72 -8.61% -5.35% 0.54% -8.29% Philippine Stock Index Fund Corp. -a 1.6 1.67 1.6 1.68 1.58 1.67 152,000 243,920 IMPERIAL Soldivo Strategic Growth Fund, Inc. -a 0.7186 -15.93% -9.39% -3.47% -15.6% ISLAND INFO 0.123 0.125 0.12 0.125 0.12 0.123 5,470,000 668,290 2 2.11 2 2.2 2 2.11 126,000 260,560 JACKSTONES Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.6205 -14.4% -7.47% -1.18% -13.98% NOW CORP 4.33 4.42 4.64 4.65 4.2 4.33 42,334,000 185,083,260 TRANSPACIFIC BR 0.335 0.34 0.35 0.355 0.33 0.335 33,870,000 11,526,050 Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.9156 -8.84% -5.66% 0.43% -8.51% 2.89 2.9 2.91 2.91 2.84 2.89 2,603,000 7,447,580 PHILWEB United Fund, Inc. -a 3.3162 -9.66% -4.9% 1.04% -9.22% 2GO GROUP 8.3 8.48 8.5 8.5 8.25 8.3 84,200 700,227 15.38 15.58 15.42 15.58 15.4 15.58 11,400 176,498 ASIAN TERMINALS Exchange Traded Fund CHELSEA 5.2 5.21 5.3 5.39 5.1 5.21 10,489,500 55,085,253 50.5 50.75 50.4 50.75 49.5 50.5 847,090 42,585,681 CEBU AIR First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 107.2957 -8.56% -5.12% 1.29% -8.26% 123.3 123.5 122 124.4 122 123.5 652,870 80,666,831 INTL CONTAINER Primarily invested in foreign currency securities LBC EXPRESS 15.48 15.5 15.58 15.94 15.48 15.48 22,200 345,124 0.96 1.01 0.97 1.01 0.96 1.01 89,000 85,630 LORENZO SHIPPNG ATRAM AsiaPlus Equity Fund, Inc. -b $1.1857 15.85% 2.65% 5.81% 15.3% MACROASIA 6.79 6.8 6.65 6.99 6.6 6.8 6,362,000 43,204,454 1.85 1.87 1.95 1.95 1.8 1.87 1,774,000 3,285,030 METROALLIANCE A Sun Life Prosperity World Voyager Fund, Inc. -a $1.6693 9.75% n.a.

21.08% 21.75% METROALLIANCE B 1.76 1.99 1.93 1.93 1.93 1.93 20,000 38,600 Balanced Funds 6.55 6.56 6.7 6.7 6.52 6.55 95,500 627,079 PAL HLDG 1.54 1.55 1.5 1.56 1.5 1.55 2,533,000 3,878,980 HARBOR STAR Primarily invested in Peso securities ACESITE HOTEL 1.38 1.47 1.44 1.48 1.4 1.48 109,000 152,800 0.039 0.04 0.038 0.04 0.038 0.039 71,700,000 2,784,700 HLDG BOULEVARD ATRAM Dynamic Allocation Fund, Inc. -a 1.6659 6.32% -3.6% -0.89% 6.6% DISCOVERY WORLD 2.39 2.6 2.34 2.6 2.34 2.6 155,000 385,990 ATRAM Philippine Balanced Fund, Inc. -a 2.2794 4.24% -2.4% 1.3% 4.51% 0.57 0.58 0.59 0.6 0.56 0.58 10,764,000 6,221,200 WATERFRONT CENTRO ESCOLAR 6.9 7 6.92 6.92 6.9 6.9 2,000 13,838 First Metro Save and Learn Balanced Fund Inc. -a 2.6236 -0.49% -1.7% -0.49% -0.3% 581.5 630 581.5 630 581.5 630 6,360 4,006,315 FAR EASTERN U 9 9.79 9 9 9 9 3,300 29,700 IPEOPLE First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1983 -13.89% n.a. n.a. -13.22% STI HLDG 0.465 0.47 0.47 0.47 0.465 0.465 7,180,000 3,347,000 NCM Mutual Fund of the Phils., Inc. -a 1.964 0.05% -0.34% 1.86% 0.12% 6 6.05 5.9 6.12 5.9 6 3,626,900 21,824,400 BERJAYA BLOOMBERRY 8.11 8.18 8.2 8.25 8.11 8.11 2,136,700 17,464,511 PAMI Horizon Fund, Inc. -a 3.7835 -0.39% -1.12% 1.19% -0.15% 2.1 2.11 2.08 2.11 2.05 2.11 76,000 158,580 PACIFIC ONLINE LEISURE AND RES 1.9 1.92 1.91 1.98 1.86 1.92 836,000 1,581,230 Philam Fund, Inc. -a 16.9134 -0.52% -1.22% 1.11% -0.28% MANILA JOCKEY 2.31 2.35 2.31 2.31 2.31 2.31 9,000 20,790 Solidaritas Fund, Inc. -a 2.0928 -2.26% 0.89% -1.38% -1.97% 2.8 2.81 2.72 2.83 2.67 2.81 23,370,000 64,173,550 PH RESORTS GRP PREMIUM LEISURE 0.44 0.45 0.46 0.46 0.44 0.445 18,800,000 8,392,900 Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.5636 -8.02% -3.71% -0.2% -7.76% 7.39 7.4 6.7 7.4 6.7 7.4 41,800 295,579 PHIL RACING ALLHOME 9 9.15 8.7 9.15 8.68 9.15 4,296,600 38,851,433 Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 1.0215 0.33% n.a. n.a.

0.57% 1.5 1.54 1.53 1.56 1.44 1.5 8,682,000 12,857,770 METRO RETAIL Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.9474 -5.14% n.a. n.a.

-4.92% PUREGOLD 41 41.1 41.5 41.5 40.9 41 1,438,400 59,076,030 ROBINSONS RTL 65 66 66 66.65 65 65 599,370 39,194,542 Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.9312 -6.48% n.a. n.a.

-6.24% 116.1 119.8 118 119.8 118 119.8 39,110 4,669,707 PHIL SEVEN CORP SSI GROUP 1.49 1.5 1.54 1.54 1.47 1.49 8,572,000 12,767,740 Sun Life Prosperity Dynamic Fund, Inc. -a 0.8873 -9.34% -4.45% -0.91% -8.98% 16.9 16.96 17.06 17.2 16.9 16.9 4,557,400 77,408,562 WILCON DEPOT Primarily invested in foreign currency securities APC GROUP 0.405 0.41 0.405 0.435 0.395 0.405 8,430,000 3,438,400 6.88 7 7.29 7.29 6.81 6.86 183,100 1,290,924 EASYCALL Cocolife Dollar Fund Builder, Inc. -a $0.03914 2.54% 2.8% 2.03% 2.46% GOLDEN BRIA 440 441 455 455 440.2 441 2,260 996,768 7.65 7.95 5.89 8 5.89 7.95 230,200 1,546,760 IPM HLDG PAMI Asia Balanced Fund, Inc. -b $1.1426 10.65% 2.94% 12.91% 5.22% 1.09 1.1 1.01 1.13 0.97 1.1 210,542,000 221,342,140 PRMIERE HORIZON Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.5018 15.59% 7.26% 7.65% 15.11% SBS PHIL CORP 5.11 5.6 5.5 5.6 5.1 5.6 572,100 2,970,216 Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.1996 6.65% 3.45% n.a.

6.28%

MINING & OIL ATOK 7.81 8.04 7.91 8.39 7.8 7.99 150,300 1,196,844 Bond Funds APEX MINING 1.72 1.73 1.74 1.75 1.71 1.73 3,877,000 6,660,130 Primarily invested in Peso securities 0.0029 0.003 0.0036 0.0039 0.0029 0.0029 89,845,000,000 301,270,600 ABRA MINING ATLAS MINING 6.45 6.46 6.41 6.57 6.4 6.46 381,500 2,466,881 ALFM Peso Bond Fund, Inc. -a 371.03 3.69% 3.26% 2.83% 3.66% 3.05 3.1 3.1 3.1 3.05 3.1 86,000 263,100 BENGUET A BENGUET B 3 3.08 3 3 3 3 2,000 6,000 ATRAM Corporate Bond Fund, Inc. -a 1.9001 -0.07% 0.03% 0.03% -0.1% 0.275 0.29 0.29 0.29 0.275 0.29 1,220,000 343,000 COAL ASIA HLDG Cocolife Fixed Income Fund, Inc. -a 3.2137 3.2% 4.48% 4.8% 3.07% 2.93 2.94 2.7 2.98 2.66 2.94 3,652,000 10,233,030 CENTURY PEAK DIZON MINES 8 8.19 8.03 8.26 8.01 8.22 2,400 19,328 Ekklesia Mutual Fund Inc. -a 2.2964 3.27% 2.97% 2.41% 3.28% 2.71 2.72 2.66 2.74 2.64 2.72 150,745,000 399,792,470 FERRONICKEL GEOGRACE 0.28 0.285 0.29 0.29 0.28 0.285 230,000 64,850 First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4527 3.98% 3.45% 2.16% 3.97% 0.156 0.16 0.16 0.16 0.151 0.16 48,190,000 7,505,040 LEPANTO A Philam Bond Fund, Inc. -a 4.6317 4.56% 3.07% 5.92% 5.94% LEPANTO B 0.157 0.16 0.16 0.16 0.156 0.156 380,000 59,320 MINING A 0.01 0.011 0.01 0.01 0.0099 0.01 84,100,000 840,000 MANILA Philam Managed Income Fund, Inc. -a,6 1.321 5.15% 4.51% 2.68% 5.12% 0.011 0.012 0.012 0.012 0.011 0.011 49,400,000 550,300 MANILA MINING B MARCVENTURES 1.45 1.46 1.5 1.53 1.42 1.46 5,520,000 8,135,430 Philequity Peso Bond Fund, Inc. -a 4.0005 5.93% 4.51% 2.84% 5.6% 3.01 3.03 3.05 3.1 3.01 3.02 604,000 1,832,070 NIHAO Soldivo Bond Fund, Inc. -a 1.0415 8.05% 4.1% 2.58% 8.01% NICKEL ASIA 5.5 5.6 5.24 5.6 5.24 5.6 28,445,900 155,815,625 0.375 0.385 0.38 0.38 0.375 0.375 740,000 279,850 OMICO CORP Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.2003 4.07% 4.82% 3.44% 4.05% 0.79 0.81 0.81 0.81 0.78 0.81 2,385,000 1,906,420 ORNTL PENINSULA PX MINING 4.95 4.97 5.05 5.05 4.9 4.95 3,099,200 15,373,760 Sun Life Prosperity GS Fund, Inc. -a 1.754 3.11% 4.22% 2.86% 3.11% 13.76 13.78 13.82 14.22 13.78 13.78 2,903,500 40,518,698 SEMIRARA MINING Primarily invested in foreign currency securities UNITED PARAGON 0.0057 0.0063 0.0058 0.0059 0.0057 0.0058 24,000,000 139,300 11.24 11.5 11 11.7 10.8 11.5 489,600 5,501,014 ACE ENEXOR ALFM Dollar Bond Fund, Inc. -a $483.78 3.37% 2.77% 2.95% 3.29% ORNTL PETROL A 0.012 0.013 0.012 0.013 0.011 0.013 400,800,000 4,697,700 0.012 0.013 0.012 0.012 0.012 0.012 316,900,000 3,802,800 ORNTL PETROL B ALFM Euro Bond Fund, Inc. -a Є219.15 -0.25% 0.82% 1.24% -0.29% 0.01 0.011 0.011 0.011 0.01 0.011 133,800,000 1,411,400 PHILODRILL ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2804 6.14% 4.11% 3.2% 6.06% PXP ENERGY 11 11.02 11 11.2 10.84 11 1,586,600 17,442,836

First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0266 3.1% 2.09% 1.83% 3.1% PREFFERED HOUSE PREF A 100.1 102 102 102 102 102 1,010 103,020 PAMI Global Bond Fund, Inc -b $1.0929 -0.01% 0.56% 0.81% -0.06% 515.5 519.5 520 520 520 520 530 275,600 AC PREF B1 Philam Dollar Bond Fund, Inc. -a $2.5341 5.5% 4.04% 3.75% 5.43% ALCO PREF C 102.1 110 110 110 110 110 20 2,200 499.2 516 522 522 495 515.5 130,810 67,321,390 PREF B2R AC Philequity Dollar Income Fund Inc. -a $0.0624115 3.42% 2.82% 2.39% 3.5% CPG PREF A 102 106.9 105 110 105 110 890 96,000 101.5 102.6 102.6 102.6 102.4 102.6 250 25,620 PREF DD Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.2225 1.6% 2.28% 2.58% 1.49% GLO PREF P 517 518.5 517 517 517 517 4,020 2,078,340 Money Market Funds 1,010 1,046 1,000 1,000 1,000 1,000 1,000 1,000,000 GTCAP PREF A 1,029 1,030 1,030 1,030 1,030 1,030 20 20,600 GTCAP PREF B Primarily invested in Peso securities MWIDE PREF 101.3 101.5 101.5 101.5 100.5 100.5 1,500 151,750 100 100.9 100 100 100 100 500 50,000 MWIDE PREF 2A ALFM Money Market Fund, Inc. -a 129.8 3.2% 3.35% 2.59% 3.16% MWIDE PREF 2B 99.7 100.9 99.8 100.9 99.8 100.9 56,940 5,715,633 First Metro Save and Learn Money Market Fund, Inc. -a 1.048 1.76% n.a. n.a.

2.11% 102.5 103.6 102.3 103.6 102.3 103.6 2,250 231,540 PNX PREF 3B PNX PREF 4 1,002 1,007 1,009 1,009 1,002 1,007 1,280 1,285,190 Sun Life Prosperity Money Market Fund, Inc. -a 1.2965 2.56% 2.98% 2.61% 2.49% 1,011 1,029 1,020 1,029 1,005 1,029 130 133,125 PCOR PREF 2B 1,010 1,074 1,069 1,074 1,010 1,010 14,245 14,465,250 PCOR PREF 3A Primarily invested in foreign currency securities PCOR PREF 3B 1,080 1,114 1,080 1,120 1,080 1,114 1,055 1,141,365 Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0524 1.48% 1.76% n.a.

1.36% 1.6 1.86 1.61 1.61 1.5 1.6 51,000 79,380 SFI PREF SMC PREF 2C 78 78.25 78 78.25 78 78 15,770 1,230,280 Feeder Funds 76 77.7 77 77.1 75.4 75.4 18,480 1,408,907 SMC PREF 2E SMC PREF 2F 77.1 77.3 77.5 77.5 77.3 77.3 1,450 112,335 Primarily invested in Peso securities 75.5 76 75.8 75.8 75.8 75.8 1,000 75,800 SMC PREF 2G Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 1.114 n.a. n.a. n.a. n.a.

75.65 77.95 77 78 75.65 78 11,980 929,462 SMC PREF 2H SMC PREF 2J 75.15 76 75.4 76 75.1 76 22,020 1,653,862 Primarily invested in foreign currency securities 75.15 75.5 75.1 76 75.1 75.5 10,410 785,327.50 SMC PREF 2K

ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $0.98 -1.01% n.a. n.a.

-1.01% PHIL. DEPOSITARY RECEIPTS

ABS HLDG PDR 12.6 13 11.9 12.6 11.9 12.6 55,400 682,816 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."

16,930,770 -33,488,080 -11,759,860 2,249,658 403,702 26,309,372 3,180 -23,368,440 461,500 49,300 4,150 77,900 -154,233 2,452,867.50 -6,212,923 2,811,383 26,390 10,570 145,190 -13,838 -144,300 -1,632,477 34,020 -614,900 -1,118,750 2,010 21,672,309 -642,590 -17,685,640 10,909,033.50 1,192,895 413,260 6,915,026.00 1,319,185 536,830 -44,520 -516,500 100,450 2,800 5,082,490 2,552,000 760,460 34,865,782 -153,879 12,197,074 131,040 -3,600 10,230 1,540 -

481,706 5.95 5.98 5.85 5.99 5.85 5.95 1,749,200 10,415,860 -1,606,336 GMA HLDG PDR

WARRANTS LR WARRANT 1.02 1.05 1.02 1.1 1 1.02 277,000 279,900 2,000

SMALL & MEDIUM ENTERPRISES ALTUS PROP 12.38 12.4 12.6 12.7 12.3 12.4 334,100 4,159,364 3.18 3.19 3.02 3.18 3.01 3.18 4,323,000 13,351,710 -887,230 ITALPINAS KEPWEALTH 6.1 6.19 6.4 6.4 6 6.1 147,100 893,753 2.51 2.7 2.7 2.7 2.7 2.7 11,000 29,700 MAKATI FINANCE MERRYMART 6.18 6.19 5.92 6.47 5.92 6.18 69,269,200 432,238,340 -207,354

EXHANGE TRADE FUNDS

FIRST METRO ETF 107.8 108 107.4 108.4 107.4 108 25,950 2,803,375 -262,597

www.businessmirror.com.ph

EXCLUSIVE

Low budget to crimp CIC’s 2021 operations

By Tyrone Jasper C. Piad @Tyronepiad

T

he country’s central credit registry is determined to “make ends meet”after receiving a lower-thanexpected budget for 2021, the bulk of which is earmarked for security and maintenance of its database.

Aileen L. Amor-Bautista, Credit Information Corp. (CIC) Senior Vice President for Business Development and Communications, told the BusinessMirror that out of the P90-million subsidy the CIC requested for fiscal year (FY) 2021, only a total of P76 million was approved.

Amor-Bautista said it was “disheartening” because the credit registry requested for a “very conservative” amount. She noted that the lower budget might affect its operational viability.

“Still, the CIC shall continuously look for ways to make ends meet by intensifying our campaign for access—which is our only source of revenue—albeit on a limited budget,” she told the BusinessMirror.

In September, the credit registry requested a P90-million government subsidy for next year as it gears up to enhance its database management. Of this amount, P35 million is allocated to improve the security and maintenance of its growing credit database. The CIC explained that system improvements will continuously be in place as the credit registry includes more submitting entities, load additional credit data and further broaden financial inclusivity.

The firm said it was also investing in third-party solutions provider to ensure cybersecurity all the time. In addition, the CIC said it is earmarking funding for regular annual penetration-testing of the Credit Information System (CIS) to discover potential gaps in security.

In a study by the Policy and Economic Research Council and Makati Business Club, the government was urged to significantly increase the budget allocation for the central credit registry.

The research by the US-based think tank and business group explained that “while the CIC could earn fees, it should not be considered its primary source of revenue.”

In October, the CIC introduced a mobile application that allows remote access of credit reports from individual borrowers. The public may view the said data through an app launched by CIBI Information Inc., one of its accredited credit bureaus and accessing entities.

Individuals may register and create an account in the CIBIApp through desktops or mobile phones.

An individual’s credit report contains consolidated positive and negative credit data, along with other relevant information submitted by the financial institutions. It also includes basic personal information, government issued IDs, address, contact details, financial contracts and credit card records, among others.

Banking&Finance BusinessMirror

Foreign banks’ lending in Q3 dipped as business activity remained tepid

T

By Bianca Cuaresma

H

@BcuaresmaBM

he Bangko Sentral ng Pilipinas (BSP) announced on Tuesday that foreign loans also declined in the third quarter of the year alongside peso-denominated loans, as business activity remained tepid during the period.

Central bank data showed that outstanding loans granted by Foreign Currency Deposit Units (FCDU) of banks stood at $17.3 billion in the third quarter of 2020, lower by 3.9 percent or $702 million from the end-June 2020 level of $18.0 billion.

The BSP attributed the decline in foreign currency lending to borrowing firms’ lower working capital requirements and lending banks’ tightening of credit standards— both due to the less favorable economic outlook brought about travel

and movement restrictions to curb the ongoing health crisis.

Compared to the 2019 levels, FCDU loans decreased by 3.1 percent or by $554 million from the endSeptember 2019 level of $17.8 billion.

The maturity profile of the FCDU loan portfolio remained predominantly medium- to long-term debt.

This means that the foreign currency loans are mostly payable over a term of more than one year. About 80 percent of total foreign currency loans in the third quarter of 2020 are medium to long-term debt, higher

than the 77.5 percent level as of end-September 2019.

BSP data also showed that of the total outstanding loans to residents, 40.4 percent went to the following resident industries: power generation companies at 18.9 percent; merchandise and service exporters at 14.8 percent; and, public utility firms at 6.7 percent.

FCDU deposit liabilities stood at $46 billion as of end-September 2020, higher by $2.4 billion from the end-June 2020 level of $43.6 billion.

The decline in foreign currency loans mirror the lending sentiment in local bank lending.

Earlier this month, BSP Governor Benjamin E. Diokno said banks’ reluctance to lend and borrowers’ unwillingness to borrow is dampening the effectiveness of BSP’s massive monetary policy easing.

Despite interest rate cuts and liquidity infusions in the economy, latest data on domestic liquidity, broadly measured as “M3,” grew slower at 12.3 percent to P13.5 trillion in September. This is tamer than the 13.7 percent growth seen in the previous month.

Bank lending—which is one of the primary drivers of domestic liquidity—grew at 2.8 percent in September, also weaker than the 4.7-percent growth in August.

PNB moves to foster use of digital banking

T

HE Philippine National Bank (PNB) announced it is extending the waiver of electronic fund transfer fees in its digital platforms until the first quarter of next year.

In a statement on Tuesday, the Tan-led bank said that it will not be charging fees to money transfers via InstaPay and PesoNet until March 31, 2021, to promote the use of digital banking channels.

PNB President Jose Arnulfo A. Veloso said the bank is supporting the call of the Bangko Sentral ng Pilipinas to accelerate the shift to digital platforms in accomplishing banking transactions.

“We continue to strengthen our campaign on encouraging more customers to use digital banking since the start of the community quarantine,” Veloso was quoted in the statement as saying. He added that “digital banking is gaining ground as customers learn more about the benefits of these services.”

PNB shares dipped by 0.84 percent, or 25 centavos, to close at P20.35 each amid the 0.25-percent rise for the main index last Tuesday.

While its physical branches are open, the bank said that transacting online is the safer option to minimize

Association trends 2021

appy New Year!

According to a report I read recently, 2021 will be a more challenging year for associations than 2020 due to the many uncertainties the pandemic has caused socially and economically.

To cushion against this disruptive impact, it may help associations to take stock of what worked for them last year and build capabilities based on recent trends.

Here is a list of trends which have an impact on associations: Working remotely moves from location to time. While WFH (work from home) has become commonplace in 2020, the next work flexibility arrangement will not be on where they work but when they work, i.e., not based on an agreed-upon number of work hours but on target outputs regardless of the hours they work to achieve them.

‘Renting’ talent will increase.

With new skills needed to sustain business operations, associations will shift their investments away from building capacity internally (e.g., staff train-

Wednesday-Thursday, December 30-31, 2020 B3

Association World Octavio Peralta ing) to ‘renting’ talent (i.e., getting contractors).

Social commerce is rising. Marrying e-commerce with social media is making online marketing more interactive and exciting. Group-buying campaigns will motivate members to buy from their association, helping them save money, and reducing the association’s member retention costs.

Online communities will enhance member engagement. Do not let your membership engagement slip over to social media platforms such as Facebook or LinkedIn. Be part of your members’ daily social networking habits by providing them with an online member community where they can find relevant information, share ideas with peers, and network with

An unidentified man wearing a mask uses the facility of Philippine National Bank’s “Bank on Wheels,” which the bank said it revived 19 days after Luzon was locked down due to the coronavirus disease 2019 pandemic. More than nine months later, PNB announced it would boost the use of digital banking by extending the waiver of electronic fund transfer fees in its digital platforms until the first quarter of 2021.

Courtesy PNB

exposure to the virus. This has been a trend, PNB said, citing the recent uptick in digital enrollment among customers.

“Customers have become more comfortable in using these digital applications through their computers and

your association and other members.

Virtual engagement will continue to be around. Members who have become more involved have done so because you have provided them with varied online resources: webinars, e-meetings, e-newsletters, etc.

Do keep pace with this momentum but, at the same time, evaluate these benefits and determine what fresh virtual offerings you can provide.

E-learning premium features and user experience are musthaves. To reach your ultimate goal in your e-learning aspiration, you need engaging, learner-centric features that use cutting-edge technology.

The top three most desired learning platform features include artificial intelligence, gamification, and microlearning.

Mental health support becomes the norm. Because of the pandemic, organizations have realized the critical importance of mental health. Associations need to de-stigmatize mental health by expanding mental health benefits, creating “collective mental health days,” and supporting other ini-

smartphones,” Veloso said.

In a news briefing last October, the bank said it was studying moves to hike its budget for information technology (IT) projects in the next two years. PNB Chief Financial Officer Nelson C. Reyes said that the bank was still deciding how much budget increase is needed for its IT allocation.

The listed bank allotted around P2.5 billion of capital expenditures for IT initiatives this year, which is 15-percent higher than 2019 budget.

The bank said it is allocating 30 percent of the IT budget for digital payments and e-wallet, among others.

The PNB has around 696,000 digital banking platform users as of September, which is over 30 percent more than last year.

The Tan-led bank saw its 9-month profits dip by around 39 percent to P3.87 billion from last year’s P6.34 billion because of higher provisioning for potential credit losses.

The bank has set aside loan loss reserves of P9 billion in the first nine months, which is six times more than it booked last year for the same period.

Its capital adequacy ratio and common equity tier 1 stood at 16.40 percent and 15.67 percent, respectively, as of end-September. Tyrone Jasper C. Piad

tiatives to improve the mental health of their staff.

Final note: Know exactly what your members want by asking them.

Send them periodic surveys to get their thoughts and ideas about your association’s programs and benefits.

Read what they are saying in your online community, and participate in the conversations to spark more feedback. Host focus group meetings with diverse audiences of members to find out more about their needs and how you can continue to deliver value for many years to come.

The column contributor, Octavio ‘Bobby’ Peralta, is concurrently the secretary-general of the Association of Development Financing Institutions in Asia and the Pacific, Founder & CEO of the Philippine Council of Associations and Association Executives and President of the Asia-Pacific Federation of Association Organizations. The purpose of PCAAE—the “association of associations”—is to advance the association management profession and to make associations well-governed and sustainable. PCAAE enjoys the support of Adfiap, the Tourism Promotions Board, and the Philippine International Convention Center.

E-mail: obp@adfiap.org

Envoys&Expats BusinessMirror

B4

Wednesday-Thursday, December 30-31, 2020

STRENGTHENING OPERATIONAL EFFICIENCY Foreign Affairs Undersecretary for

Policy Elizabeth P. Buensuceso participated in a high-level roundtable forum, “A Cohesive and Responsive Asean Community,” on December 17. She emphasized: “Asean centrality is the backbone, heart, [and] the soul...which will enable it to withstand challenges to its existence and relevance.” DFa

DEAN OF DIPLOMATS As the new Apostolic Nuncio-designate of the Holy See to the Philippines, Most Reverend Charles John Brown presented his letter of credence to President Duterte in a virtual ceremony at the Malacañang Palace on December 14. PRESIDENTIAL PHOTO: TOTO LOZANO/PNA

www.businessmirror.com.ph

ACT OF CHARITY Hungary’s Deputy State Secretary and Co-Chair of the Joint Committee on Economic Cooperation István Joó (left) formalized his country’s donation of a mobile water-treatment plant for Catanduanes through Fr. Anton Pascual of Caritas Manila. OFFICE OF CIVIL DEFENCE/HUNGARY EMBASSY IN MANILA/PNA

UNDP: Broken societies place humans on collision course with planet, nature

N

EW YORK—The ongoing pandemic is the latest crisis facing the world, but unless humans release their grip on nature, it won’t be the last—according to a new report by the United Nations Development Programme (UNDP), which includes a new experimental index on human progress that takes into account countries’ carbon dioxide emissions and material footprint.

The report lays out a stark choice for world leaders: Take bold steps to reduce the immense pressure being exerted on the environment and the natural world, or humanity’s progress will stall.

“Humans wield more power over the planet than ever before,” said UNDP Administrator Achim Steiner. “In the wake of [the spread of the coronavirus disease 2019 (Covid-19)], record-breaking temperatures and spiraling inequality, it is time to use that power to redefine what we mean by progress, where our carbon and consumption footprints are no longer hidden.”

“As this report shows, no country in the world has yet achieved very

high human development without putting immense strain on the planet,” Steiner explained. “But we could be the first generation to right this wrong. That is the next frontier for human development.”

The report argues that, as people and planet enter an entirely new geological epoch—the Anthropocene or the Age of Humans—it is time to for all countries to redesign their paths to progress by fully accounting for the dangerous pressures humans put on the planet, while dismantling the gross imbalances of power and opportunity that prevent change.

Human Development Index

TO illustrate the point, the 30th an-

From resilience to recovery

by Chargé d’Affaires John Law US Embassy in the Philippines

I

N his 1946 inaugural address, former Philippine president Manual A. Roxas told a newly independent Philippines and the world: “We have yet a greater bulwark today…the friendship and devotion of America.”

For three quarters of a century, Americans and Filipinos have met and overcome adversities together. As 2020 closes, I am deeply proud of how our people united to face hardships: the Taal volcanic eruption, devastating typhoons, and the ongoing pandemic.

Amid unprecedented challenges, our mutual support and collaboration demonstrate that this “friendship and devotion” endure and thrive today.

The pandemic has disrupted all aspects of our lives, in the workplace, the classroom, and at home. Despite economic hardship, family separations and loved ones’ illnesses, the outpouring of acts of goodwill and solidarity by Filipinos provides hope and inspiration to us all.

Americans have worked shoulder-toshoulder to help those in need, providing more than P1.1 billion in vital assistance— more than to any country in Southeast Asia. US tech companies have trained Filipino teachers to develop remote-learning programs,

LAW

helped the Department of Health distribute vital safety information, and provided online classroom software.

Our embassy has partnered with the Commission on Higher Education and the Department of Education to assist teachers and students. This assistance complements long-term US investments in the Philippine health system totaling nearly P28 billion over the past 20 years.

Committed to safety, security

THEN-president Roxas called the abiding USPhilippine friendship “the greatest ornament of our independence.” The 4 million-strong Filipino-American community in the US is assisting in both countries. Here, they are donating food, medical and other relief across the country. In the US, Fil-Am-owned restaurants

niversary edition of the Human Development Report, The Next Frontier: Human Development and the Anthropocene introduces an experimental new lens to its annual Human Development Index (HDI).

By adjusting the HDI, which measures a nation’s health, education and standards of living to include two more elements: a country’s carbon dioxide emissions and its material footprint, the index shows how the global development landscape would change if both the well-being of people and also the planet were central to defining humanity’s progress.

With the resulting PlanetaryPressures Adjusted HDI, or PHDI, a new global picture emerges, painting a less-rosy but clearer assessment of human progress. For example, more than 50 countries dropped out of the very high human development group, which reflects their dependence on fossil fuels and material footprint.

Despite these adjustments, countries like Costa Rica, Moldova and Panama have moved upward by at least 30 places, recognizing that lighter pressure on the planet is possible.

“The Human Development Report is an important product by the United Nations (UN). In a time where action is needed, the new generation of Human Development Reports— with greater emphasis on the defining issues of our time such as climate change and inequalities—helps us to

in San Francisco provided thousands of meals to health-care workers through #FilipinosFeedTheFrontlines, while fashion designers produced and donated masks to hospitals, elder-care facilities and essential workers.

America is committed to the safety and security of the Philippines. As treaty allies, we strengthened our partnership this year to support this country’s military modernization to defend the nation from emerging challenges.

Top US officials have repeatedly underscored our support, even in difficult times. Just in the past few weeks, the US has delivered P3.1 billion in vital defense equipment—on top of the P31.2 billion provided over the past five years—to help the Philippines defend its territorial waters and maritime resources, while countering foreign-linked terrorist threats.

America’s friendship is not empty rhetoric, and it is not subject to the vagaries of politics. As State Secretary Michael R. Pompeo declared: “We have your back.” We are and will remain your friend, ally, and partner— through fair weather or foul.

Upholding, uncompromising

PART of that commitment is upholding international law in the West Philippine Sea, and standing up for your rights to the rich maritime resources that rightly belong to you. In July, the US reiterated its unequivocal support for the 2016 Arbitral Tribunal ruling that validated the Philippines’s rights to its waters in the West Philippines Sea. The US

steer our efforts toward the future we want,” said Prime Minister Stefan Löfven of Sweden, host country of the launch of the report.

Working with nature

THE next frontier for human development will require working with nature, and not against it, while transforming social norms, values, and government and financial incentives, the report argues.

For instance, new estimates project that by 2100, the poorest countries in the world could experience up to 100 more days of extreme weather due to climate change each year—a rejects Beijing’s “Nine-Dash Line,” which falsely claims that nearly all the South China Sea belongs to it, as completely unlawful.

We agree with the Tribunal that the People’s Republic of China has no right to claim Mischief Reef (seized from the Philippines in 1995, and now home to a PRC military base) or Second Thomas Shoal (bravely defended

by Philippine Marines). We fully agree with President Duterte’s statement at the United Nations in September that the 2016 arbitral ruling is “beyond compromise.” US support for the Philippines on this issue is resolute and is backed across the US political spectrum.

2020 has tested our resilience, but I am confident 2021 will be a year of recovery, as medical advancements enable us to better contain and treat the virus, and our economies reopen to support growth and development.

2021 brims with hope for the future of our relationship, as we celebrate several important milestones: 75 years of US-Philippine bilateral relations, the 75th anniversary of the Fulbright exchange program, and the 60th anniversary of the US Peace Corps in the Philippines. What we can accomplish going forward is thanks to the friendship and devotion of many people over the years, including the brave frontliners who served as a bulwark against the pandemic.

On behalf of the entire US Embassy, we thank you for your friendship, and send best wishes to all of our Filipino friends for the New Year. Para sa isang masaganang bagong taon!

number that could be cut in half if the Paris Agreement on climate change is fully implemented.

Yet, fossil fuels are still being subsidized: The full cost to societies of publicly financed subsidies for fossil fuels—including indirect costs—is estimated at more than $5 trillion a year, or 6.5 percent of global gross domestic product, according to figures from the International Monetary Fund cited in the report.

Reforestation and taking better care of forests could alone account for roughly a quarter of the pre-2030 actions humans must take to stop global warming from reaching 2 degrees Celsius above pre-industrial levels.

“While humanity has achieved incredible things, it is clear that we have taken our planet for granted,” said UN Secretary-General’s Envoy for the Youth Jayathma Wickramanayake. “Across the world, young people have spoken up, recognizing that these actions put our collective future at risk.”

“As the 2020 Human Development Report makes clear, we need to transform our relationship with the planet—to make energy and material consumption sustainable, and to ensure every young person is educated and empowered to appreciate the wonders that a healthy world can provide.”

Inequalities, colonialism, racism

HOW people experience planetary

pressures is tied to how societies work, according to UNDP’s Human Development Report Office Director and lead author of the report Pedro Conceição. He declared: “Today, broken societies are putting people and the planet on a collision course.”

Inequalities within and between countries with deep roots in colonialism and racism mean that people who have more capture the benefits of nature and export the costs, the report shows. This chokes opportunities for people who have less and minimizes their ability to do anything about it.

For example, land stewarded by indigenous peoples in the Amazon absorbs, on a per-person basis, the equivalent carbon dioxide emitted by the richest 1 percent of people in the world. However, IPs continue to face hardship, persecution and discrimination, and have little voice in decision-making, as stated by the report.

Discrimination based on ethnicity frequently leaves communities severely affected and exposed to high environmental risks such as toxic waste or excessive pollution— a trend reproduced in urban areas across continents, argued the authors. According to the report, easing planetary pressures in a way that enables all people to flourish in this new age requires dismantling the gross imbalances of power and opportunity that stand in the way of transformation.

Czech Republic, World Vision partner for employment project

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HE Embassy of Czech Republic in Manila and World Vision jointly launched in October the “Bridge to Employment” project which will support 50 students under the Alternative Learning System Program of the Department of Education, including 30 more who are enrolled in technical-vocational-livelihood programs of the Technical Education and Skills Development Authority.

“Bridge to Employment” is a one-year project aimed to assist the education of 80 students so they can one day support their own families through livelihood and employment.

Based on reports from the Philippine Statistics Authority, the rate of unemployment nationwide increased to 17.7 percent in April, from 5.3 percent in January. Data also showed that while 13 million Filipinos continued to have jobs, they were unable to report for work due to the risks brought about by the pandemic.

These statistics reveal that wage-earners who are forced out of work due to the lockdown are in danger of a decreased or zero income. The condition will affect their ability to provide essential needs of the family, including education for their children.

One of those who applied for the project was Rodelyn Rabaya. She is currently unemployed, but still hopes to earn a decent living despite the difficulty of finding a stable job: “I worked as an office encoder and as a warehouse

assistant; but since the contracts ended, I have been without work since then.”

Especially at this time of a global health crisis, Rabaya thought opportunities were hard to come by for someone like her who did not earn a college diploma. The 23-year-old housewife from Baseco compound in Manila had to drop out from first-year college to give way for her other siblings’ schooling.

Rabaya said she immediately signed up when her local government’s youth organization announced the project through social media.

“They were looking for 18- to 24-yearold people who wanted to continue studying though a scholarship, and whom the project will eventually help land a job,” shared Rabaya, who immediately signed up for the contact-center training along with other available courses such as computer programming and events management. She said she is eagerly waiting to start her 18-day online training.

“We at World Vision are excited for the students of ‘Bridge to Employment.’ This gives them a chance to continue reaching for their dreams,” said World Vision (Philippines) National Director Rommel V. Fuerte. “We are thankful to the Embassy of the Czech Republic in Manila for supporting our projects of looking after the welfare of families—especially the most vulnerable [of their] children.”

Editor: Anne Ruth Dela Cruz

Health&Fitness BusinessMirror

More seniors are considering retirement in nursing homes

By Anne Ruth Dela Cruz

Y

ou are not abandoning your parents if you decide to place them in a nursing home. In fact, you are being responsible children because you will be entrusting them in a facility that is capable of looking after their needs, especially their medical needs.

This is the mindset that is being promoted by the Order of the Ministers of the Infirm (MI or the Camillians), a religious congregation founded in 1582 by St. Camillus de Lellis whose mission is into health care. This religious order manages Camillus Medhaven Nursing Home which is located in Marikina Heights in Marikina City.

“Camillus Medhaven Nursing Home was formerly the St. Camillus Home of Charity that was founded in 1992. It was established to respond to the needs of the abandoned quadriplegic and paraplegic patients discharged from the Philippine Orthopedic Center. On February 2, 2006, the Home of Charity changed its direction from being a shelter and health care provider for abandoned persons with disabilities into a home for the elderly,” said Father Rodel R. Enriquez MI, Chief Operating Officer of the Camillian health institutions that is made up of three hospitals, two polyclinics, one nursing home and one formation center.

In 2018, Medhaven reached its full capacity of 104 residents and this led the Camillians to open the St. Camillus Medhaven Annex which is located just across the main facility. The annex houses Medhaven’s Dementia Village and increased its bed capacity to 185.

“We consider ourselves to be the biggest private nursing home in the Philippines. Our clients say we are the best in the country as per the facility and the programs,” Fr. Rodel said. “There are around 20 nursing homes in Marikina alone but their services and their programs are not at par with us. That is the reason why when clients do visit our facility, they are the ones telling us that this is the best so far.”

Residents, not patients

Fr. Rodel related that they refer to the seniors at Medhaven as residents because the nursing home is already their home.

Of the total number of residents, 80 percent of them suffer from different forms of dementia. Medhaven also caters to seniors who are already bedridden or require hospice and palliative care.

“Our residents stay with us on the average for five to six years. The longest resident has been with us for 15 years. The original ones have been with us for around 18 years.

Two lady residents having a good time. bernard testa But that probably is one of our bad reputation and our bad reputation is that our residents live long because of the good environment, our program of care,” Fr. Rodel said jokingly.

Medhaven has specialized units for dementia care and their staff are sent out of the country, specifically in the Camillilan run nursing homes and hospitals in Taiwan, for dementia care training. In house training for dementia is also available.

The nursing home offers three levels of care to its residents—low, intermediate and high care. Low care are those residents who are still able to carry out activities of daily living or ADL like taking a bath, eating meals without much assistance.

They are retired and who just want to be in a facility where emergency health care and social activities are readily available.

“Intermediate are for those who need some form of assistance to perform ADL. These may be persons with dementia. You may be mobile but because you have dementia, you need some form of assistance and there are also those who are wheelchair bound,” he said.

High care

The last category is high care or also referred to as skilled nursing because these residents require high nursing and bedside care. These are residents who may need convalescent care, or those who are recovering post surgery or post stroke. There are also residents who have end stage Alzheimer’s, end stage of ageing and those who need hospice and palliative care.

Medhaven also goes the extra mile for residents who need to be hospitalized but their relatives are abroad.

While this is not the usual practice for nursing homes, Fr. Rodel said they do assist residents who require hospitalization. The Camillians also manage and operate three hospitals and Medhaven residents can be admitted there with expenses charged to their Medhaven account.

“We have also had cases where we were the ones who attended to the remains of residents who died up to the time they are cremated or until the funeral parlor takes over,” Fr. Rodel said.

Prior to the lockdown, seniors who wanted to become a Medhaven resident had to undergo an application process. This usually starts with relatives visiting the facility for an orientation and tour. Once the relatives have decided to avail of Medhaven’s services, Medhaven visits the incoming resident whether they are in the hospital or at home.

“From there, they will have to submit a medical abstract, undergo a chest X-ray and some laboratories and then we submit all this to our physician for the proper care plan,” Fr. Rodel said.

High-risk group

Before the implementation of the enhanced community quarantine in March, Fr. Rodel related that the facility was already placed on lockdown since the residents were a high risk group. The infection prevention protocols that were implemented were based on the guidelines provided by the Center for Disease Control specifically for nursing homes.

What was most challenging for Fr. Rodel and his team was how to change the mentality of the residents in order to adopt to the new normal and how to strike a balance between isolation and the need for social activities.

“Before Covid-19, we wanted our residents to socialize, join activities and have meals together so that they have someone to talk to,” he said.

“With the new normal, we provided them with individual tables, they had to eat in their rooms, face masks and it was more challenging for our residents with dementia.”

The staff had to stay in. Those who had direct contact with patients like nurses, nursing aides, caregivers, care assistants, physical therapists had to stay in for 17 days. Instead of an eight-

hour duty, they worked for 12 hours to comply with the number of hours to be rendered monthly. The staff had to stay in a dormitory and were categorized based on their place of assignment.

However, no matter how the facility prepared for Covid-19 the virus eventually found its way into the facility. Out of 128 residents and 22 staff, the facility had 15 confirmed cases with only eight of them requiring hospitalization.

As for clients who wish to enter the facility, Fr. Rodel said the application process is now done virtually. They meet with the client online, give them a virtual tour of the facility and the admission officer explains the admission procedure and other necessary information.

Future plans

For their future plans, Fr. Rodel said they were planning to come up with a facility in Cogeo that would cater to lower income bracket. The goal is to construct a 60-bed capacity, three story building with a polyclinic on the first floor. He added that they were also looking to expanding their services to Cebu and Davao. They are also looking into providing home health care services because not all families would want their relatives placed in a nursing home.

He added that there is already a gradual change in mentality from the time they started in 2004. Nowadays, they receive more inquiries from the local market.

“That’s because they realize that certain conditions of the elderly are in need of specialized care and they could not actually provide at home even if they have much resources,” he said.

He added that facilities like Medhaven have moved away from the old health care ambiance to a more community of village ambiance. “How can you say that we abandoned our parents if we place them in this facility? That is the shift in the philosophy of aged care in the Philippines,” Fr. Rodel said.

Celebrate the new year with a heart-healthy menu

By Claudeth Mocon-Ciriaco

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here are traditional New Year’s Day food items that bring us “good luck.”

Among the lucky food items that you should eat are a plate full of greens or vegetables that will remind you of dollar bills, and jade jewelry; noodles or pansit to lengthen your life while pork symbolizes wealth and prosperity, among others.

Just like the Christmas celebration, family and friends enjoy getting together to enjoy New Year’s dishes.

While it is tempting to consume all that delicious food prepared by the family or gifted by well-meaning friends, not all meals are healthy, especially for people living with diabetes.

To raise awareness about the critical connection between diabetes and cardiovascular disease, the “For Your SweetHeart” campaign, spearheaded by Boehringer Ingelheim [Philippines], Inc. in partnership with medical societies, and campaign ambassador Kim Atienza or Kuya Kim have come up with special recipes this holiday season for people living with diabetes.

Mommy Beng, Kuya Kim’s mom and a type 2 diabetes patient, joined him in preparing hearthealthy and diabetes-friendly holiday meals during an online cooking demo.

The mother-son duo gamely prepared two recipes—a main dish and a dessert—that Filipinos can enjoy without worrying about their impact on the sugar level and the heart. The main dish is Chicken Teriyaki with Sweet Potatoes and

Shiitake Mushrooms, while the after-meal treat is Fruit Salad with Healthy Honey Yogurt Sauce.

Being a type-2 diabetes patient, Mommy Beng knows the important role that the family plays in keeping a patient healthy.

Aside from encouraging the public to prepare healthy meals this Yuletide season for family members with diabetes, Kuya Kim and Mommy Beng also shared the most important tip of all: to always consult one’s doctor.

‘For Your SweetHeart’ web site

Besides the cooking demo, the web site foryoursweetheart.ph was also introduced where patients can learn more about the campaign.

The web site includes helpful articles on diabetes and heart disease management, including

a heart-healthy diet for patients with diabetes.

The site also contains an assessment tool based on the Framingham 10-year Heart Disease Risk Test, which requires details of the patient’s total cholesterol, HDL cholesterol, and systolic blood pressure.

The “For Your SweetHeart” campaign is supported by the Philippine Heart Association (PHA), Institute for Studies on Diabetes Foundation Inc. (ISDFI), American Association of Clinical Endocrinologists (AACE), Philippine Society of Endocrinology Diabetes and Metabolism (PSEDM), Diabetes Philippines (DP), Philippine Association of Diabetes Educators (PADE), Association of Diabetes Nurse Educators of the Philippines, Inc. (ADNEP), and Philippine Alliance of Patient Organizations (PAPO).

Wednesday-Thursday, December 30-31, 2020 B5

Achieve total health and wellness in 2021

By Rory Visco Contributor

T

hese are very challenging times and while restrictions in mobility and economic activities are easing up a bit, there still are some limitations imposed by the government. The important thing is to keep yourself strong, safe and well.

As we prepare to welcome a new year that some say is still full of uncertainties, the turbulence of Covid-19 will continue.

To say that something is predictable is the most unpredictable thing to say so people have to be constantly ready, healthy and well, according to inspirational speaker Francis Kong in the “Excellence in Overall Wellness” webinar organized by Taiwan Excellence. While some people may appear well on the outside, in reality Kong said we need to understand that in the pursuit of excellence in wellness, we should accomplish this holistically to achieve success.

Kong provided some important resources that people need to manage daily and in order to achieve excellence in the way they live their lives. Knowledge is where people need to invest their time in so invest in learning, un-learning and re-learning. Energy, meanwhile, can be depleted. Just as people expend energy in things that will not add value, it is also important to focus our energy on important things that need to be done.

Attention

As for Attention, in a world that is going to be dominated by Artificial Intelligence, Data Mining, Automation, Virtual Reality, 5G and other technologies, the most essential skill would still be “attention,” “where we invest on how to understand, focus and manage things happening in our lives.”

Talent is one that should not remain as talent alone and we should depend on it heavily. Invest in talent to help develop it until it is converted into an acquired skill.

As for Money, save money and grow it by investing, even if it cannot be denied that money is central to everything. Finally, time is a most important resource. “All the important resources above can be depleted, but can also be renewed, except time which is non-renewable. Don’t say I will spend time but invest in time, don’t say ‘time spent’ but ‘time well invested.’”

Turbulence

Kong emphasized that Covid-19 will pass but the turbulence is here to stay. No one really knows exactly what’s going to happen in the future because of the impact

of the pandemic, “but what’s important now is we have to manage these resources correctly to make sure that we achieve total health and wellness.”

Kong said that there are areas that should be developed and acquire excellence in to help achieve total health and wellness: n Develop intellectual and mental wellness—take really good care of the mind. “We are all hopelessly at the mercy of our ideas.” The pandemic managed to increase fear and anxiety in many people and many may have accumulated fear.

One tip? Stay away from being fixated on the news. Be well informed but do not be consumed by the news. Avoid doom-scrolling or doom-surfing, avoid participating in social media bashing because media, whether mass media and now social media, shapes our thinking. n Develop emotional wellness—try to be in control and manage your moods and emotions. Be curious, try to keep learning and to understand what works.

Never make a major life decision at the height of an emotional moment. Try to be confident (not arrogant) and develop people skills by being with people with different personalities, traits and character.

“Stay away from negative people. Don’t be sucked in by their negativity. They may be a wind beneath your wings but can also be an anchor around your feet.” n Develop physical wellness—There’s no fun in having a 14-karat gold bed pan in a hospital, he said. Perspectives inside the board room will turn out to be different inside the ICU or an operating table.

Avoid bad food, do regular exercise. “It’s not a good thing that we don’t exercise and later on we get to spend all our life savings in the hospital just to be well while the cardiologist goes to buy a new car.” “Health is the new wealth, Peace is the new Rich, and Kindness is the new Cool.” n Develop fiscal wellness—the way you spend time and money is an accurate barometer of the life you are living. Live within your means but increase your means. Avoid unnecessary risks like scammers and get-rich-quick schemes by being in control of your emotions and not be sucked in. Engage the family in financial literacy to prepare for the future. n Develop spiritual-relationship wellness—every morning, try to create a quiet moment with the Creator, to pause, reflect, read Scriptures. Talking to God is time well spent and certainly not wasted. In an article in the Harvard Business Review a couple of years ago, it said that though IQ, EQ, AQ (adversity quotient) are all important as well as SQ (Spirituality Quotient).

Muntinlupa opens Covid facility, allocates ₧170 million for vaccines

By Roderick L. Abad Contributor

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HE local government of Muntinlupa is initially allocating P170 million for the procurement of Covid-19 vaccines, announced Mayor Jaime Fresnedi during the recent inauguration of the Molecular Laboratory and the We Heal As One Center Isolation Facility in celebration of the city’s 103rd founding anniversary.

While the national government has a roll-out plan, the local chief executive noted that his administration will be allocating its own budget for the vaccination program to ensure that all local residents will receive the vaccine.

He cited, on the other hand, that the newly opened testing hub and isolation facility will augment the local initiatives in curbing the virus.

Located in Ospital ng Muntinlupa (OsMun), the Muntinlupa City Molecular Laboratory is now operational after it received its accreditation from the Department of Health in a bid to strengthen the local testing capacity and Covid-19 response efforts.

Test results here may be released within the day of the collection of swab samples. Real-time polymerase chain reaction or RT-PCR swab test performed in this lab costs P3,800 only, per the ap-

proved pricing scheme. Admitted indigent patients qualified in OsMun’s No Balance Billing scheme and those with valid Philhealth coverage can avail of the discounted price.

The lab is open from 8 a.m. to 5 p.m. on weekdays. Swabbing of out-patient clients is scheduled from Monday to Friday, except on holidays, from 7 a.m. to 10 a.m. All other in-patient and emergency request are subject to regular specimen collection.

Located in Filinvest Tent Alabang, the newly inaugurated 148-bed We Heal As One Center is the city’s second emergency quarantine facility built by the Department of Public Works and Highways.

It will be managed by the Bureau of Fire Protection while the local government will cover its utility charges.

For anyone who has undergone Covid-19 swab testing, Muntinlupa requires a mandatory self-isolation policy, or admission to city isolation facilities, if requirements for home quarantine are not met as certified by the City Health Office.

Fresnedi extended his gratitude to Department of Transportation Secretary Arthur Tugade for his assistance in the construction of the Covid-19 facilities in the city, as well as their partners for their donations to help his constituents recover from this crisis.

B6

Life

BusinessMirror

Wednesday-Thursday, December 30-31, 2020

Editor: Gerard S. Ramos

• www.businessmirror.com.ph

DANGER ZONE

WOMEN should be careful when their husbands, boyfriends or partners have a frequent business or prayer partner or exercise buddy. A number of socialites have learned this hard lesson after their men were snatched by other women. Another danger zone is when a woman who is divorced or separated from her husband starts getting close to your husband or partner in the guise of needing his help and advice.

A socialite lost her husband to another woman this year. She saw all the flags but ignored them because her husband and the woman kept reassuring her. In the end, her husband left the socialite for the woman.

But of course, all these women won’t matter if the man isn’t receptive. So, ladies, blame your husbands, boyfriends or partners first, not the woman.

20/20 vision N

OTHING in my lifetime has ever been as tumultuous and disruptive as that of the year just about to come to pass. From the Taal eruption to the typhoons, and now to reports of the new strains of the coronavirus that has caused deaths and disruption everywhere, 2020 has played out seemingly as the harbinger of the apocalypse. Some blindly refer to the resilience of the human spirit, while some rose to the occasion and actually helped others. And while not a few felt hopeless and helpless, some took advantage of the situation and learned as much as they could to come out of these crippling events wiser and more adaptive.

One of the most important lessons I have learned this year is that nothing is constant. Events this year tell us we live in a volatile, uncertain, complex, and ambiguous (VUCA) environment. And I am not just talking about how the events have affected organizations. I am also talking about my personal life. My social pages have seen so many obituaries of friends and loved ones. And the worst part was I could not even visit and mourn properly.

So spend as much time as you can with loved ones.

You do not need to visit them given the pandemic, but you can call. Last Christmas, my family from different parts of Luzon did a video-conference during noche buena. While we could not be physically together, at least we celebrated together. Keep close ties and nurture those relationships that add value to your life before it is too late.

Another lesson I learned is that it is OK to stop. In

PROBLEM STAR

This year showed me that one common happiness multiplier in our lives are the relationships we deliberately build and the people who enrich our own experiences. I may not see clearly into the future, but this year has taught me to have 20/20 vision on what is truly important. a world where everything is defined by deadlines, it took a pandemic to bring everybody’s attention back to themselves and to what is truly important. This year has taught me to reflect on what matters to me and to invest time and effort on things which help me grow as a person, and to invest time in people who encourage me to be the best version of myself, and who know and support my goals and vision.

And while I know I need to set SMART goals, I have learned this year to be flexible and adapt as needed. The best kind of leaders are those who know where they are going and hold their people’s hand while pulling them onwards, as opposed to bosses who bark orders from behind and lead by cracking the whip. Now that organizations have adapted to the work-from-home setup, there is a need for leaders to adapt a mindset of trusting their employees to deliver as required and being innovative in the ways they improve employee engagement, while allowing them to have creative freedom and independence. Leaders need to know when to push or pull.

But I also realized to not be too hard on myself, especially at work. There is an increasing need to focus on mental health and how to help the work force cope and even excel. People are starting to realize that self-care is a priority and not a privilege. A healthy work force means a work force that is able to meet expectations. And while there are peer support groups and mental health counselors available, nothing beats a work environment conducive to

promoting self-actualization.

I also realized it is perfectly OK to ask for help from others. I started in a new organization a week before the lockdown and it was a challenge adapting to the new environment while working with people I had not even met personally. My direct supervisor helped in orienting me to the new environment and a colleague helped me understand the organizational culture and how I could fit in. Help can come in the form of coworkers but it can also come from online classes. I finished a course on leadership, some modules on project management, and a host of other courses which will help me do better at work.

A big lesson this year is how technology enables people to do more and why organizations need to invest in a good IT infrastructure to support the work force. In one of my past organizations, we were lobbying for a work-from-home setup because the work that my team did before was output-based and we only met for reviews which could also be done remotely. They did have their work from home, but they also discovered that a work-from-home setup poses a unique set of issues which cannot be addressed by technology alone, however good it is.

In the end, people drive an organization forward, not technology. So, invest in good technology, but invest in developing people more.

Organizations also need to look at their products

Continued on B7

WHEN she was still with her family, this celebrity was known to be considerate of others. Now that she’s on her own, the truth has surfaced. It appears that her family has protected the star and the people she works with from the truth: she is not a kind person at all, and that her talent is not exceptional. Her mother just made sure she stayed away from things that would make her mediocrity surface. Now, the star eats and drinks what she wants, she doesn’t sleep properly and even drinks alcohol, something that was forbidden to her in the past. Her coworkers are also complaining that she doesn’t come on time and her performances have suffered because of lack of discipline. Her recent performances have been ridiculed by critics and everyone is waiting for the day when the celebrity realizes that she needs her family beside her, at least for professional reasons.

FOR KEEPS

THE truth has finally come out that the reason behind the split of this celebrity couple is someone from the guy’s past. The someone is a person the guy is still very much in love with and he wanted to get together with her again. But someone intervened and talked to the couple. The guy realized that he really loves her and she’s really been loyal to him. The distraction on his side was just temporary. When he realized that this was true, he talked to his girlfriend and they tried to iron things out. She agreed to take him back provided that the relationship leads to a lifetime commitment as they aren’t young anymore, and aren’t just dating to explore.

HER ONLY INSECURITY

THIS beautiful actress is so secure in the love of her actor boyfriend that she doesn’t mind bumping into his exes. One of them is a lovely actress who is now married and has two kids. The other two are also actresses who just had babies. She is cordial and even friendly to the three ladies when they would bump into each other. The beautiful actress is a naturally nice person but if there is someone who she’s jealous of, it’s another actress who has always exhibited predatory behavior toward her boyfriend even when she is around. The actress knows the person she’s jealous of has no scruples when it comes to hooking up with a man who’s in a relationship.

What to do with our ‘eves’?

AS I write this, it is Christmas Eve. It made me reminiscent of my past Christmas Eves. It would be a day after my dear sister Joan’s birthday, and we would try to get as much sleep in the morning if there were no scheduled activities that day. We would be somewhere in the map exploring a new place as a family and taking our annual Christmas Eve family photo.

As with everybody else, I struggle with the thought of not physically spending the celebration with my whole family. After recent announcements on additional restrictions, with occurrences of Covid-19 following small group gatherings, we had to revise our original plans to stay safe.

The anxiety also extends to these last few days leading to 2021. In our personal lives, we deal with the uncertainties of the coming new year in our continuing fight against this disease, family income, job security, effectivity of learning with prolonged distance learning, and the like. On the business front, most 2021 plans involve how to survive to hopefully see a rise in revenues, manage expenses, and support the livelihood of our employees.

It made me think of the word “eve” in general.

Oxford defines “eve” as “the day or period of time immediately before an event or occasion.” It is also “the evening or day before a religious festival.” I wanted to write a column about our “eves.” I wanted to take us through the “races” we have prepared for in life, then hopefully slide our emotions toward the spectrum of the good to come.

Remember your wedding day. Remember how happy you felt walking toward your future partner.

Remember seeing your family and friends all wishing you well. Do you remember the day before that big day? What were you feeling? I remember so many thoughts running through my head. Aside from worrying about the event details, the days leading to my wedding were also days of questions.

Will I be a good wife? Will I be able to raise a happy family despite my experiences in my immediate family? Then when you go back to the actual big day, remember all these thoughts suddenly disappearing because of the joy before you?

Fast forward to today, close to two decades later, I value that “eve.” I value the fears I felt because they made me prepare better. Even on days when life does not seem as bright, doesn’t just looking at your kids make you feel grateful for going through your

“wedding eve”?

Remember the “eve” when you started your business. Remember the tough decision you needed to make between a steady income versus an unknown return. Then remember that big day of your office blessing or inauguration. Remember the feeling of happiness that you finally did it. You are finally building something on your own. Looking at it today may make all that history seem so far away, but it definitely makes us feel all the worry and stress were worth going through.

This eve of 2021 will no doubt be marked by mixed

emotions. We all face different anxieties in our lives.

We all will usher in 2021 with different levels of fear.

I hope that for these remaining days of the year, we spend reflecting on our past and personal “eves.” They will remind us of the trepidations in our heart, but they should also remind us of the joy and strength that came after.

Thus, regardless of the fears we no doubt have for all that is to come, let’s relish the anticipation for 2021—and the days which will provide us with opportunities to further create a new life, a new us.

Happy Holidays, everyone.

Life

BusinessMirror

www.businessmirror.com.ph • Editor: Gerard S. Ramos

Wednesday-Thursday, December 30-31, 2020

20/20 vision Continued from B6 and services, and develop contingency plans on addressing disruptions in the production chain rather than reacting to them. This is a tall order considering that you cannot really adequately prepare for the unexpected. But you can look at current data and develop frameworks and models that your organization can use to address a VUCA environment.

Everybody knew a pandemic would happen. It was just a matter of when. Now would be a good time to look at other possible risk scenarios and manage them when possible.

And I also realized that technology, like any other tool, can be used either for good or evil. I am pleasantly surprised that technology has helped people this year to be more empathetic to each other.

We have seen into the houses of our coworkers and

have had a glimpse of their life at home. That makes it easier for us to relate that they are someone just like us, and it helps us develop rapport more than just a business transaction. I have developed professional friendships over video calls so much so that one even wanted to meet me in person before she retires.

While nothing can take the place of face-to-face conversations, we have become more adept at reading people through their voice and choice of words.

But most of all, this year has reminded me that time is a limited resource. Spend it with people who add value to your life and do not be afraid to let go of people who weigh you down. This year showed me that one common happiness multiplier in our lives are the relationships we deliberately build and the people who enrich our own experiences. I may not see clearly into the future, but this year has taught me to have 20/20 vision on what is truly important. n

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B8 Wednesday-Thursday, December 30-31, 2020

CSC chairperson honors fallen frontliners

Choose an intimate wedding at Club Ananda in Batangas

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OVE knows no boundaries. This December, Cluba Ananda hosted its very first intimate wedding where a lovely couple tied the knot in the company of their close friends and family members.

Given the pandemic, intimate weddings are preferred by engaged couples who have decided to push with their wedding plans sooner than later. Held with a shorter guest list, an intimate wedding event allows for social distancing and the observance of other safety protocols such as face masks and face shield wearing, and frequent hand washing.

With safety concerns readily covered, intimate weddings can be the perfect set up for couples who aims to spend more personal moments with each guest. This gives the wedding couple more opportunities to enjoy a relaxed atmosphere among loved ones.

Since an intimate wedding involves a smaller guest list, soon to wed couples can also shortlist different wedding venues, spend well within their budget, and have a special day with less stress and hassles.

With intimate weddings, less is definitely more!

While intimate weddings are held

on a smaller scale, it is definitely big where it matters most: a celebration of love between individuals who bravely declared their lifetime commitment together as husband and wife. At Club Ananda, this is the treasured moment we take the utmost care and make good for wedding couples, as one of the best wedding venues in the south.

For the month of December, Club Ananda is offering amazing deals and packages on intimate weddings.

For more information on wedding packages, contact Club Ananda at 09175506871 or email club.ananda@ cpmc.ph.

PRC, Tanging Yaman get funds for communities affected by typhoons

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HE Philippine Red Cross (PRC) and Ateneo de Manila University’s Tanging Yaman Foundation Inc. (TYF) recently recieved funds from Chevron Philippines Inc. (CPI) and Chevron Holdings Inc. (CHI) to support their relief efforts for the families greatly affected by Typhoons Rolly and Ulysses.

CPI and CHI each donated P500,000 to PRC making a total of P1 million worth of donation, which was used to purchase relief items, finance operational costs, and provide cash grants for livelihood and shelter repair.

CPI and CHI regularly donate to the PRC as the organization has a bigger network to carry out largescale relief operations. Earlier this year, CPI reached out to PRC to help provide relief for the victims of the Taal Volcano eruption.

Subsequently, CPI donated its Christmas party budget for this year,

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N a year-end message to civil servants, Civil Service Commission (CSC) Chairperson Alicia dela Rosa-Bala cited the service and sacrifice of frontliners who paid the ultimate price in the nation’s battle against the COVID-19 pandemic.

She said, “It is heartbreaking to lose many public servant heroes in the nation’s fight against COVID-19, but please know that the Civil Service Commission joins the bereaved families in honoring these civil servants—they who put their lives on the line to save as many Filipinos as they can in performing their duties.”

“Tunay kayong mga lingkod bayani,” she added. Lingkod bayani is a play on the terms lingkod bayan (public servant) and bayani (hero), used by the CSC to mean government workers who are akin to heroes by going above and beyond their duty.

Chairperson Bala also expressed gratitude to government workers for striving to rise above the challenges brought by the pandemic.

“2020 has been a tough year for all of us, but your unwavering dedication to serve the Filipino people amid adversities has given us inspiration, hope, and faith in God and in humanity. Taos-puso ang pasasalamat at saludo namin sa inyo, mga lingkod bayan!” she said.

The CSC chief also echoed the call of the Health Professionals Alliance Against COVID-19 (HPAAC) to observe

Apat Dapat if gatherings cannot be completely avoided. APAT is an acronym that stands for:  A is for air circulation. There must be good air circulation in the room. Outdoor and open-air venues are preferred.  P is for physical distancing. Maintain distance of at least one meter away from other people.  A is for always wear a face mask and face shield. T is for time. Interaction should be for only thirty minutes or less.

“We hope to see our civil servants welcoming the new year reinvigorated and with a healthy body and mind so we can serve the Filipino public at our best,” said Chairperson Bala.

Philippine Regulation Commission honors ‘responsible miner,’ outstanding professionals

“OUR actions are the foundation of our character that frame our mind as a leader,” said Engr. Jose Bermudez Anievas.

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HE Philippine Regulation Commission (PRC), virtually honors their picks for the “2020 Outstanding Professionals”.

This year’s honorees include a ‘responsible miner’ – Engr. Jose Bermudez Anievas, the pride of Nickel Asia Corp. (NAC).

PRC, the government agency tasks to enforce the laws regulating various professions in the country, deliberates yearly to select exemplary individuals who have displayed competency to the highest

degree in their chosen profession.

Joebby or JBA, as he is known in the mining industry, is chosen as the “2020 Outstanding Professional of the Year in the Field of Mining Engineering” – the highest award by the Commission given to a professional as recommended by peers for demonstrating competence in the highest degree and integrity in the exercise of his profession.

Serving the mining industry for 45 years, Anievas brings pride to NAC where he started as Resident Mine Manager for Taganito Mining, a NAC subsidiary, and moving up to become the company’s Chief Operating Officer. Also to all the companies he served in his long career including Philex Mining where he started as Safety Officer and Underground Mining Engineer and where he had written a manuscript on the standard procedure on technical writing and reporting, a document later adopted as a recommended reading in a mining school. As well as in Carrascal Nickel Corporation where he first developed organizations of young professionals in the field of exploration and mining with strong emphasis on environmental protection and responsible and sustainable mining.

Top artists to grace Manila Hotel‘s countdown

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PRC volunteers board a boat to provide relief packs for the victims of Typhoons Rolly and Ulysses.

amounting to P431,000 in support of TYF’s disaster relief efforts for families affected by the recent typhoons.

“We saw the devastating aftermath of Typhoons Rolly and Ulysses, and our

heart goes out to the victims. We hope these donations will be able to help the affected communities get back on their feet,” added CPI General Manager and Country Chairman Billy Liu.

Sarangani co-hosts Mindanao Week of Peace

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THE event organizers during the culminating program of the weeklong observance.

HE provincial government of Sarangani cohosted the recently-concluded Mindanao Week of Peace, an annual celebration mandated by Presidential Proclamation No. 127 series of 2001 for the pursuit of justice and peace in the southern island. Held in Gen. Santos City, this year’s celebration bore the theme “Dialogue towards Harmony” which involved various stakeholders in Mindanao, such as local governments, civil society groups, Moro communities, indigenous peoples, and the business sector. According to Sarangani governor Steve Chiongbian Solon, the province is extending its horizons through the Sulong Kapayapaan Kalinaw project, which seeks to attain peace by addressing the roots of the conflict through Godcentered governance.

RTISTS like Lea Salonga, Kuh Ledesma, world-renowned soprano Rachelle Gerodias, Korean baritone Byeong-In Park, Richard Reynoso, UP Concert Chorus, and others join The Manila Hotel in a virtual countdown event to mark the coming of the New Year.

In keeping with the long-standing annual tradition that has been in place since prewar times, the hotel will still hold a New Year Countdown this year albeit in a different space. Due to the restriction on gatherings, this year’s welcome to the New Year will be done virtually via a Zoom viewing with amazing raffle prizes to be given away.

Guests and customers can join the Zoom party on December 31 from 10pm to watch artists share messages of love and hope through songs, words of encouragement from the hotel’s president Atty Joey Lina, and a chance to win the amazing prizes at stake. To join, anyone with a purchase from the hotel is eligible to a raffle ticket for every P3,500 in a single receipt. This includes dining bills from Café Ilang-Ilang, the Lobby Lounge, Roma Salon, and even The Manila Hotel’s signature grill restaurant Cowrie Grill in Greenhills; purchases from The Delicatessen, Lobby Shop, and Christmas corner; room bookings for FIT guests; promo purchases; and even Take Out from the regular or the festive menu.

The Covid-19 pandemic put a halt to many events this year so an online gathering such as this also gives The Manila Hotel a platform to continue its service to Filipinos

that it began in March with the Mabuhay Meals Food Drive for Frontliners; and its partnership with groups like the Rotary Club of Makati Central and others to donate food and PPEs to government-run hospitals like PGH and the Manila Medical Center, among others.

With this event, the hotel is making all its valued guests partners in an endeavor that has no extra cost to them or separate purchase needed. Part of the proceeds of guest purchases eligible in the 2021 Countdown with a Cause and the raffle will be pooled together to brighten the holidays of displaced workers in the city of Manila affected by the pandemic.

Call 85270011 or 09989501912 for information. Visit the hotel’s Facebook and Instagram accounts (@TheManilaHotel).

LEA Salonga

BusinessMirror

Editor: Tet Andolong

Wednesday-Thursday, December 30-31, 2020 B9

Property management consultants bullish in 2021

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By Rizal Raoul S. Reyes @brownindio

HERE was no doubt that 2020 was annus horribilis.

Nevertheless, the property sector is bullish that 2021 will see a rise in sales and investments.

Contrary to earlier projections, the local property sector bucked the odds and continues to flourish amid the Covid-19 pandemic, with residential property sales showing vibrant prospects as the year comes to a close.

Furthermore, homebuilders are adopting a bullish outlook in 2021 as economic recovery moves forward.

Moreover, property management consultant services firms Lobien Realty Group (LRG) and JLL Philippines see electronic commerce and real-estate investment trusts (REITS) respectively as the bright spots in the industry next year.

Bria Homes, a major player in the Philippines credited the positive trend to the industry’s resilience brought about by low interest rates, low inflation rates, and relatively stable land prices.

“Supply and demand curves for housing are at healthy levels with an increase in investment demands from cities outside of Metro Manila,” Red Rosales, president of Bria Homes said in a press statement.

“Filipinos have become increasingly appreciative of the fact that properties are real and tangible assets. Thus, apart from wanting to fulfill their dream of owning a home, they now look at property as smart investments for the long

term,” Rosales added.

If anything, the pandemic has opened the eyes of Filipinos to the importance of setting their priorities right. This has led people to give more focus on work-from-home modes and online learning.

Aware of the situations experienced by a lot of Filipinos regarding housing issues, Rosales said Bria Homes addresses these concerns w ith affordable condominium units and house-and-lot packages situated in wholesome communities where residents’ health and wellbeing are safeguarded by sanitation and hygiene protocols.

Although mobility is restricted by quarantine measures that remain in place, Rosales said Bria homeowners do not need to leave their premises to relax and unwind.

Recreational facilities such as multipurpose halls, covered basketball courts, eco-friendly spaces, and kiddie playgrounds are very accessible.

Safety is assured as round-the-clock security is also provided by perimeter fences, guarded entrances and exits, and CCTV coverage as Bria’s property management teams are available at all times.

Rosales urged Filipinos to consider investing in Bria Homes by using its effective template: Affordability (Mura) + Quality (Dekalidad)

Those looking to invest in Bria Homes’ affordable houses may view Bria properties through online 360 virtual tours

BRIA Homes communities feature recreational facilities such as multipurpose halls, covered basketball courts, eco-friendly spaces, and kiddie playgrounds

All Bria communities follow strict health and sanitation protocols and government-mandated guidelines

= A Beautiful Bria Home for Every Filipino. Rosales added the company is using the template to provide high-quality homes to a multitude of ordinary Filipinos in more than 50 Bria communities nationwide, with more projects to be rolled out in 2021.

“We encourage Filipinos seeking budget-friendly and well-designed homes to invest in a Bria condominium or house and lot while real-estate prices remain stable and steady,” Rosales pointed out.

Bria Homes’ housing options include 24-sq-m condominium

units for cozy, low-maintenance lifestyles. For families who prefer stylish houses and lots, Bria has 22-sq-m Elena, 36-sq-m Alecza, and the 44-sq-m Bettina.

“This year’s quarantine protocols have shown Bria homeowners that having access to retail establishments such as groceries, wet markets, and convenience stores is more important than ever,” Rosales pointed out.

“Proximity to hospitals, churches, schools, and major roads and highways is downright essential, too,” he added.

Rosales noted all Bria communities adhere to health and sanitation protocols and government-mandated guidelines during these challenging times to ensure the health and safety of the community.

Bright spots Meanwhile, LRG cited a growing significance in the Philippines’s economy of e-commerce. Revenues from the e-commerce market are expected to hit $3,540 million by the end 2020. Moreover, revenue is projected to have a compounded annual growth rate (CAGR 2020-

2024) of 18.4 percent, leading to a forecasted market volume of $ 6,956 million by 2024. The market’s largest segment is electronics and media with a projected market volume of $949 million in 2020.

JLL Philippines head of research and consulting Janlo de los Reyes said they expect thatREITs will continue to attract investors in the medium to long term that will enable the country to further develop capital investments. Meanwhile, JLL sees the “hub-and-club model’’ as a possible growth driver in 2021.

Under this model, occupiers will maintain a head office (club) for socializations such as client meetings and town halls, and expand through satellite offices (hubs), which may be closer to where employees reside.

“This decentralization strategy is already taking shape now and may redefine the real-estate strategy of occupiers moving forward,” de los Reyes said.

Likewise, JLL expects the current trends such as digitalization, emergence of smart cities and townships and the emergence of alternative asset classes such as data centers and logistics as the trends to watch.

HOME Century Properties outlines the must-haves for a disaster-ready home Celebrate Holidaze at home with LG

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IVEN our country’s location along the typhoon belt and the Ring of Fire, we’ve learned to prepare for natural disasters like earthquakes and typhoons. Every year, an average of 20 typhoons enter the Philippines, at least five of which are catastrophic. As we rise above the onslaught of successive typhoons these past months, the idea of owning a disaster-proof home comes to mind.

Known for its groundbreaking properties found in key locations in the city and in the provinces, Century Properties recognizes the importance of building not just captivating structures, but architectural marvels that also uphold the safety and well-being of its communities.

Effective flood-prevention and mitigation system

When looking for a home, the most important consideration you need to make is the location.

Beyond the convenience and accessibility, you also need to check if the area you’re looking into is flood-prone or not.

In the north, though The Residences at Commonwealth in Quezon City stands on an elevated location, Century Properties took into consideration the surface water runoff that might affect its neighboring villages and establishments. The site is also properly graded to make sure that the runoff from the property drains to the proper outfall locations.

For the Residences at Azure North in San Fernando, Pampanga, the entire site was back filled by 3 to 4 meters to elevate the finish grade. An adequate drainage design was also incorporated for flood readiness.

The area of Century City, along Kalayaan Avenue in Makati City, has not experienced uncontrollable floodwater surges, but that doesn’t mean proper systems aren’t needed.

To prepare for unexpected surges, Century Properties has put in place a flood-prevention and mitigation system that includes the installation of sump pumps within the buildings which pump out water into the drainage.

In addition, the company made sure to rehabilitate drainage lines found under neighboring streets to lessen the possibility of basement flooding. Ensuring that drainage lines are in

The Residences at Commonwealth

good condition help regulate the flow of water pumped out as well. Regular de-clogging and adding of new drainage culverts were also done around Valdez Street, Salamanca Street, and Kalayaan Avenue toward the Pasig River outlet.

Meanwhile, in Acqua Private Residences in Mandaluyong, homeowners need not worry about living in a waterside development. An extensive flood risk analysis was done for the site during its planning stages and though it’s less likely to experience flooding given its open access to the sea, Century Properties still undertook measures to prevent flooding.

All parking areas are above ground floor level.

The ground floor of all towers, and its amenity and retail areas have an increased elevation of 1.5 meters.

Down south at the Azure Urban Resort Residences in Parañaque City, Century Properties worked with Barangay Marcelo Green, as well as the city government in the construction of a drainage system that traverses through the company property. This assures not only current Azure residents of a flood-free path, but also pedestrians and motorists as well who use Azure’s portion on West Service Road.

Earthquake readiness

It’s no secret that when you are located on a higher floor, the most likely you’ll feel the ground shake during an earthquake. During these occurrences, it’s best not to panic and to stay vigilant. Century Properties follows the Philippine National Building Code, employing

a team of engineers and architects to ensure the integrity of its buildings in Century City Makati, the Residences at Commonwealth in Quezon City, the Residences at Azure North in San Fernando, Pampanga; Acqua Private Residences in Mandaluyong and Azure Urban Resort Residences in Parañaque City.

Fire preparedness

In the Philippines, March is observed as Fire Prevention Month. There are numerous causes and hazards related to fire; and maintaining vigilance is a must. In all projects by Century Properties, proper equipment is in place such as fire alarms, smoke detectors, sprinklers, fire extinguishers, and fire hose cabinets, and the presence of fire hydrants as readily available water sources. These are regularly tested and replaced to ensure effectiveness in case of fire.

Emergency preparedness of property management team

The property management team is in charge of making sure the building is sound and in good condition. Aside from making sure all safety equipment are in place, the team also undergoes frequent training so they know what to do during emergencies. From handling equipment to providing assistance—homeowners can count on a professional and equipped property management team.

If you’re on the hunt for a home, log on to www.century-properties.com.

HIS holiday season, LG Philippines wants to ensure that festive celebrations are held safely and responsibly at home. To make sure that everyone stays at home for the holidays, LG (www.lg.com/ph) is offering a special promotion for the season. What better way to celebrate Christmas at home than with a brand new LG TV? With LG’s Holidaze at Home Promo, customers can get up to 40-percent off and a free Christmas basket or LG XBoom Go speaker on select LG TV models. To be eligible for the promo, purchases must be made via straight card or cash payment in participating LG authorized dealer stores nationwide. LG’s Christmas baskets may be redeemed by eligible customers in participating dealer stores upon purchase.

LG offers a very diverse selection of TV sets that will be discounted for its Holidaze at Home promo. The TV models included in the promotion will be marked down until January 15, 2021. As an added bonus, each TV purchase from the Holidaze at Home promo will also come with either a portable LG XBoom Go speaker or an LG Christmas basket courtesy of LG. These special freebies will be available in selected authorized dealer stores. So grab your LG TVs for as low as P17,990 and enjoy your special holiday gift this Christmas.

When buying LG TVs as a Christmas gift, don’t forget to complete the immersive experience by adding speakers to your home entertainment system. Smaller LED TVs up to 50” are best paired with an LG SN6Y soundbar which is priced at P18,990 for 55” LED TVs and larger, bigger speakers are recommended. Try out the LG XBOOM CL98-FB, priced at P34,990 or the LG XBOOM RN9, pegged at P24,990, to complete the cinematic experience at home. For your brand-new OLED TV, we recommend the portable LG XBoom Go PL7 Bluetooth speakers which can be yours for only P7,990.

Also, LG Electronics (LG) announced a number of organizational commitments that are designed to faster transform the global consumer electronics and appliance brand into a company that will be able to better weather the coming year by turning challenges into opportunities.

Initiatives such as promoting customer value

innovation through LG’s digital transformation strategy, creating a cross-function Quality Management Center, establishing a North America Innovation Center, bolstering each company’s R&D function and giving the nascent Robot Business Division a new home in the Business Solutions Company are some of the changes in store for the new year and beyond.

A notable change will be the retirement of Dan Song, president and CEO of the Home Appliance & Air Solutions Company, who took on the role at the end of 2016 and leaves the company stronger than it has ever been. Under the leadership of the 37-year veteran of LG Electronics, LG’s H&A Company recorded the highest sales figures in the history of the company and is a key reason for LG’s strong performance this year despite the cloud of the pandemic. Taking over the reins of LG’s largest company will be Lyu Jae-cheol, a 32-year veteran of LG and head of its Living Appliance Business since 2016.

In addition to focusing on customer value, quality control, innovation, R&D and robots, LG will be creating more opportunities to reinforce its competitiveness, encourage disruptive thinking and better prepare for future uncertainties. To give management and employees direct responsibility for growing categories, separate divisions will be established for re-

frigerators and dryers under the H&A Living Appliance Business while the Air Solutions Business will get a separate System Air Conditioner division. Other new initiatives include Disruptive Technology Innovation Lab and Disruptive Product Innovation Lab which combine elements of R&D with future product planning.

Under the CTO’s Materials & Devices Advanced Research Center will be the New Display Lab which will focus on accelerating Micro LED technology for faster business development.

The CTO will also set up iLab to develop creative technologies utilizing start-up methods that can be commercialized relatively quickly. In addition to opening a North America Innovation Center to discover and promote new business opportunities, LG’s Chief Strategy Office will also set up a new Business Incubation Center to adopt new ideas and help transform them into business opportunities.

And to better respond to changing consumer needs, LG will open a Customer eXperience (CX) Lab that reports directly to the CEO. The CX Lab will include aspects of the Advanced Design lab and will focus on studying the way design affects the way consumers interact with products.

All appointments are effective on December 1, 2020 with promotions taking effect January 1, 2021. Reni Salvador

Sports BusinessMirror

B10 | W

ednesday-Thursday, December 30-31, 2020 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

Sultan hopes to fight in US in 2021

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UPER flyweight Jonas Sultan is praying and hoping that he would finally secure a fight in the United States by early next year— whether or not it’s a world match.

“I hope to fight in 2021 to give national pride,” Sultan told BusinessMirror as he enumerated his wish list composed of former world champion Roman Gonzalez, reigning World Boxing Association super flyweight champion Joshua Franco and World Boxing Organization (WBO) super flyweight titlist Kazuto Ioka.

Sultan, 29, was brought to Los Angeles by former nemesis and reigning International Boxing Federation (IBF) super flyweight titleholder Jerwin Ancajas and trainer manager Joven Jimenez last October to be their sparring partner and training buddy.

“I am really happy that I’m helping them improve their skills and at the same time they also help me develop my footwork, timing, balancing, power and speed,” said Sultan, who also sparred with Tokyo Olympics-bound middleweight fighter Eumir Felix Marcial.

“I also learned good defensive stance particularly after counter-punching,” he added.

Even if it’s not a world title bout, the Zamboanga del Norte-born Sultan (16-5 winloss record with 10 knockouts) said he is willing to snatch any opportunity to fight in the US. So far, Sultan is supported by the Zamboanga Valientes headed by Junnie Navarro and his

Murray receives Australian Open wild-card entry

mother Cory Navarro.

Sultan fought Ancajas two years ago and lost via unanimous decision in Fresno, California, in an all-Filipino battle for the world title.

Before that, he beat current WBO bantamweight champion Johnriel Casimero three years ago in a world title eliminator in Cebu.

Sultan, Ancajas and Marcial—along with Jimenez—are spending the holidays in the US as they hone their boxing skills under the care of MP Promotions President Sean Gibbons.

Josef Ramos JONAS SULTAN is sharpening his fists in California.

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ELBOURNE, Australia—Five-time Australian Open runner-up Andy Murray has been given a wild-card entry into the first Grand Slam tournament of next year.

Former top-ranked Murray has slipped to No. 122 in the Association of Tennis Professionals (ATP) rankings after several years of battling hip injuries and surgery.

“We welcome Andy back to Melbourne with open arms,” Australian Open tournament director Craig Tiley said Monday. “As a five-time

ELECTIONS committee chairman Bones Floro (top, right) administers the oath of office to re-elected president Rep. Abraham “Bambol” Tolentino (sixth from left). Also in photo are (from left) Jojo Villa, Juancho Ramores, Paquito Rivas, Jun Lomibao, Sunshine Joy Mendoza, Oscar Rodriguez, Moe Chulani, Carlos Gredonia and Alejandro Vidallo. Atty. Billy Sumagui (top, left) is reappointed secretary-general.

WITH OR WITHOUT VACCINE–BAMBOL

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EP. ABRAHAM “BAMBOL” TOLENTINO was re-elected president of the Integrated Cycling Federation of the Philippines, or PhilCycling, on Tuesday and immediately vowed to stage the national championships for road, mountain bike and BMX in 2021—with or without a vaccine against Covid-19.

Also retaining their posts were Alberto Lina as chairman and Oscar “Boying” Rodriguez as vice president, while the new members of the federation board were Alejandro Vidallo (treasurer) and Engr. Greg Monreal (auditor).

finalist he has been an integral part of so many amazing matches and storylines in the recent history of the Australian Open.”

Murray made a teary retirement announcement in Melbourne two years ago before undergoing a second round of surgeries to extend his career.

“His retirement was an emotional moment and seeing him come back, having undergone major surgery and build himself back up to get onto the tour again, will be a

Re-elected as members of the board were Jun Lomibao, Juancho Ramores, Paquito Rivas, Moe Chulani, Carlos Gredonia, Atty. Marcus Andaya and Jojo Villa.

The Philippines’s first female national road commissaire, Sunshine Joy Mendoza, was elected as a new member of the board along with Erwin Bollozos. Atty. Billy Sumagui was also reappointed secretary-general.

Philippine Olympic Committee membership chairman Bones Floro witnessed the elections and also headed the elections committee for the association’s elections that were conducted under stiff health protocols at the East Ocean

highlight of AO 2021,” Tiley added.

The rescheduled Australian Open will be played from February 8 to 21, three weeks later than the original date in order to allow players and officials to spend 14 days in quarantine once they arrive in Australia. The players will be allowed five hours of practice each day at Melbourne Park, but must stay confined to their hotel rooms otherwise.

Also receiving a wild card was Australian Thanasi Kokkinakis, who is also recovering

Palace restaurant in Pasay City. Everyone underwent antigen swab tests.

“I am looking at Clark or Subic for the national championships for road and Tagaytay City for BMX and mountain bike,” said Tolentino, adding that even without a vaccine, the races could go on inside a bubble environment.

“If the PBA [Philippine Basketball Association] did it in Clark, we could do the same in the same venue, in Subic and Tagaytay,” said Tolentino, who was also re-elected to fresh four-year term as president of the Philippine Olympic Committee.

Tolentino also foresees a merger

between the country’s top two road race organizers—Air21/Ube Media Inc. (Le Tour de Filipinas) and LBC (Ronda Pilipinas)—in the conduct of road races next year.

Also tops in Tolentino’s priorities in 2021 are the Tokyo Olympics, 31st Southeast Asian Games and the Asian Indoor and Martial Arts Games where BMX will be played.

from a series of injuries and hasn’t played a tour match since the 2019 US Open. He missed the 2020 Australian Open due to glandular fever.

Fellow Australians Destanee Aiava and Arina Rodionova gained wild cards into the 128-women’s draw.

India’s Sumit Nagal and China’s Wang Xiyu were awarded wild cards from the AsiaPacific for the men’s and women’s main draw, respectively. AP

Murray

Costly $50K fine for tweet about Harden

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EW YORK—The National Basketball Association (NBA) fined Philadelphia president of basketball operations Daryl Morey $50,000 on Monday for a since-deleted tweet about Houston’s James Harden that violated the league’s antitampering rule.

A tweet was posted to Morey’s account December 20 in commemoration of the anniversary of another tweet he had sent commemorating Harden breaking Calvin Murphy’s record for most assists as a member of the Rockets. Morey was with the Rockets at that time.

The tweet from this year was deleted.

Typically, teams are prohibited from discussing players under contract to other teams and the NBA has warned clubs that it can be considered tampering.

Harden has been mentioned in trade talks for several weeks.

A tweet by Morey in 2019 led to major problems for the NBA and its relationship with China. He posted support for anti-government protesters in Hong Kong. NBA games were not shown on CCTV, China’s state broadcaster, for one year after that since-deleted tweet.

Nikola Jokic had 19 points, 18 assists and 12 rebounds for the 42nd triple-double of his career as the Denver Nuggets beat the shorthanded Rockets, 124-111, on Monday night for their first win of the season.

Jamal Murray added 21 points before leaving with 4:05 remaining in the third quarter after a collision in traffic sent him sprawling to the floor. He held his hand to his head for a couple of minutes but got up and walked under his own power to the locker room for further examination. He was back on the bench midway through the fourth but did not re-enter the game.

James Harden had 34 points to lead undermanned Houston. Christian Wood added 23.

The Rockets have started the season without several key components, including John Wall, DeMarcus Cousins, Eric Gordon and Mason Jones, who remain away from the team due to Covid-19 health and safety protocols. Houston dressed nine players against the Nuggets following a two-point overtime loss at Portland in the season opener Saturday.

“This is a growing, learning experience for all of us and we have to get better, on the defensive end especially,” Rockets Coach Stephen Silas said. “When you have nine guys, and you are kind of doing things on the fly because you don’t have practice time, it can get ugly against a good team and that’s what happened tonight.”

Harden put on a show in the second quarter, scoring 21 points and connecting on three 3-pointers, but the Rockets still trailed

Pacquiao to fight for a cause Al Mendoza | alsol47@yahoo.com

THAT’S ALL MANNY Pacquiao is to fight for a cause when he faces Conor McGregor next year.

“I think I can help a lot of Filipinos if I’ll do the fight with McGregor,” our esteemed sportswriter Josef Ramos quoted Pacquiao as saying. “I will donate a huge part of my earnings to the people. That is my goal—to help the Filipinos.”

Hasn’t he been doing that for the longest time?

He’s just done it, again, distributing goodies to his constituents in his native GenSan City when he celebrated his 42nd birthday on December 17.

It has been a much-awaited ritual since he became a world champion on December 4, 1998, after knocking out Thailand’s Chatchai Sasakul to capture the World Boxing Council (WBC) flyweight title.

It’s been 22 years since and Pacquiao, now a senator, has remained world champion in the World Boxing Association (WBA)

welterweight division.

And through all those 22 years, Pacquiao has established himself as the only eightdivision world champion in boxing history.

If Muhammad Ali is the greatest of them all, then Pacquiao is arguably the winningest of them all, title-wise.

Will Pacquiao’s feat ever be surpassed, let alone equaled?

I doubt.

Floyd Mayweather retired unbeaten in 50 fights, but still, Pacquiao’s eight-world title plateau makes him practically unreachable.

Mayweather may boast that he beat Pacquiao in 2015 in the richest ($600 million) fight of all time.

But that was a fluke of a win since Pacman fought only with one healthy arm from the opening bell—the injury revealed after Pacquiao’s loss on points.

Anyway, back to McGregor. Who is this bloke again?

70-60 at halftime. Jokic and Murray combined for 36 points in the first half to help spark the Nuggets’ offense, which had struggled during an 0-2 start.

Houston pulled to 87-79 on a dunk by Jae’Sean Tate with 5:33 left in the third but the Nuggets closed the period with a 19-4 run and maintained a double-digit lead the rest of the way. Paul Millsap touched off the flurry with a 3-pointer off a feed from Jokic, whose 18 assists represented a career best.

“He’s a great player, a great talent,” said Millsap, who finished with 19 points. “You always know when you’re open, he’s going to hit you.”

Jokic said he learned to read the floor for passing lanes early on.

“I just play like that, trying to find the open guy,” he explained. “My coaches gave me the freedom to do that.” AP He is the undiminished Ultimate Fighting Championship star, who lost to Mayweather by a 10th-round technical knockout in Nevada in August 2017.

Although it was a farce to forget, the bout made Mayweather richer by $280 million and McGregor $130 million.

It is obviously for this similar promise of money that a Pacquiao-McGregor encounter may be palatable.

“I really want to experience fighting a UFC fighter,” Pacquiao told Josef, adding, “I work out every day as I never forget to take care of my body.”

McGregor is due to meet Dustin Poirier on January 23 in Abu Dhabi.

Let’s pray for a McGregor win— convincingly.

Otherwise, a loss could jeopardize the planned Pacquiao-McGregor fight in 2021.

Happy New Year!

THAT’S IT With LeBron James winning his fourth AP Male Athlete of The Year award, he has surpassed the “three-peat” feat of Michael Jordan. James has equaled the record four wins each achieved by cyclist Lance Armstrong and golfer Tiger Woods....

Condolences to the family of Teddyvic Melendres, the former Inquirer sports editor, who succumbed to Lou Gehrig’s disease (ALS) on December 25. He was a quiet man, always at peace with the world.