BusinessMirror February 11, 2021 by BusinessMirror

ISUZU GENCARS MAKATI, STA ROSA REAP AWARDS

SUZU Gencars Makati and Isuzu Gencars Santa Rosa are among Isuzu Philippines Corporation's (IPC) 2020 Grand Slam dealer awardees in the Dealer of the Year Awards 2020 (DOYA 2020). The two branches of Isuzu Gencars were recognized for their “outstanding performance for target achievement sales, parts and service,” after winning in all the five categories of DOYA 2020, which were the Light Commercial Vehicle, Commercial Vehicle, Sales Total, Parts Operations, and Service Operations. Aside from Isuzu Makati and Santa Rosa, two other branches of Gencars also received recognition for their outstanding performance in 2020. Isuzu Santo Tomas Batangas won in the Commercial Vehicle Category, while Isuzu Batangas City bagged awards in the Parts Operations and Service Operations Categories. In a statement, Isuzu Gencars president Lerma O. Nacnac thanked IPC for the awards, and expressed her gratitude to all the employees, staff and crew of Gencars for their hard work and dedication, which made

See “Isuzu,” A2

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‘PANDEMIC MAY SHRINK GLOBAL TRADE BY 22%’ www.businessmirror.com.ph

Thursday, February 11, 2021 Vol. 16 No. 123

P25.00 nationwide | 2 sections 20 pages | 7 DAYS A WEEK

Govt, Manila Water now talking on deal tweaks By Joel R. San Juan

THE monk Lama Shakya offers a prayer at the Philippine Karma Kagyu Buddhist Society ahead of the celebration of the Chinese New Year around the world. Most Filipino-Chinese visit their respective temples to offer prayers for guidance and luck in the New Year. NONIE REYES

By Cai U. Ordinario

HE pandemic will redesign globalization and could lead more firms to re-shore their operations, a move that may cause global trade to contract by as much as 22 percent, according to the Asian Development Bank (ADB). Continued on A2

BSP OKAYS LOWER MINIMUM OPENING ACCOUNT FOR IMAs By Bianca Cuaresma

HE Bangko Sentral ng Pilipinas (BSP) approved on Wednesday the reduction of the minimum opening account for investment management activities. In a statement, the BSP said the Monetary Board made the policy amendment in an effort to expand the investment opportunities of the public

by reaching markets that may not have been able to open investment management accounts (IMAs) due to the high entry requirement. Previously, the minimum opening account value for IMAs was set at P1 million. The amendment lowered this to any amount, subject to a floor of P100,000. “Through our forthcoming issuance, we hope that more savers will transition into investors,” stated Gov-

ernor Benjamin Diokno. “This is in line with the goal to make financial services more accessible to the public.” The BSP also reduced the required investment of each IMA in a commingled fund from P1 million to P100,000. “This is aimed at increasing the participation of retail investors in the securities markets through IMAs. Furthermore, commingled funds can now

See “BSP,” A2

HE Department of Justiceled panel has started its negotiations with Manila Water for the revision of its existing water concession agreement with the government. Justice Secretary Menardo Guevarra disclosed this to mediamen on Wednesday, but refused to give further details about the ongoing discussion. Guevarra, however, said the government review panel would sit down next with Maynilad Water Services Inc., also to discuss proposed amendments to their existing concession agreement. “The review panel is currently discussing the draft revised water concession agreement with Manila Water. We will sit down with Maynilad soon thereafter,” Guevarra said. The Justice secretary would not say when the discussion started and when it is expected to be finished, but expressed optimism that the revised contracts would be amenable to all parties. “Sorry, no further details at this time. Suffice it to say that the revised water concession agreement is a great improvement over the original agreement, as it does away with the onerous provisions of the latter, without making the concession less economically viable,” Guevarra pointed out. In November 2020, President Duterte gave the DOJ the go-ahead to sit down with the two water concessionaires—the Ayala-led Manila Water and Pangilinan-led Maynilad—for the proposed revision of their existing contracts. Guevarra earlier said among the provisions in the existing concession agreements that would have to go is that mandating noninterference by the state in the rate-setting mechanism of the two water firms and the Metropolitan Waterworks and Sewerage System (MWSS); and its twin provision warranting indemnification for losses in case of such government interference. Duterte ordered the DOJ to review the concession agreements after discovering onerous provisions in the existing contracts, and after the Permanent Court of Arbitration (PCA) in Singapore See “Water,” A2

PESO EXCHANGE RATES n US 48.0450

n JAPAN 0.4595 n UK 66.3886 n HK 6.1981 n CHINA 7.4671 n SINGAPORE 36.2385 n AUSTRALIA 37.1772 n EU 58.2353 n SAUDI ARABIA 12.8100

Source: BSP (February 10, 2021)

News BusinessMirror

A2 Thursday, February 11, 2021

BSP… Continued from A1

invest in a wider range of financial assets, which includes exchange-traded equities and fixed income securities and commercial papers registered with the Securities and Exchange Commission and securities issued by banks incorporated in the Philippines,” the BSP said. Corporate accounts are also now allowed to participate in commingled funds. The BSP said the new amendments are expected to support the growth of the trust industry while underscoring the importance of consumer protection. “We aim to strike a balance between liberalization and prudence. There are more changes in trust regulations in the pipeline and we hope that the industry will welcome these changes as well,” Diokno said in a statement. Trust entities are required to fully disclose to clients the risks, including the risk that assets in a commingled fund may not, at times, be easily divested at favorable market prices.

Isuzu… Continued from A1

these achievements possible. “We thank Isuzu Philippines Corporation for constantly recognizing our hard work and achievements. I would also like to thank our hardworking employees for working together and always giving their best in everything that they do. Without them, Gencars would not have achieved these awards,” she said.

Isuzu Gencars chairman D. Edgard A.

Cabangon also conveyed sincere thanks to IPC for the honors conferred on Gencars. “We are always grateful for the support that Isuzu Philippines has been giving Gencars through the years, and these awards inspire us more to keep doing our work with passion and commitment,” he said. He also commended the Gencars Team for their achievements and for a job well done. “To our hardworking people, congratulations and let us keep up the good work,” said Cabangon.

Founded in 1978 by the late Ambassa-

dor Antonio L. Cabangon Chua, Isuzu Gencars is a recipient of multiple Dealer of the Year Awards, including the very first award conferred by IPC in 2005. It is a member of the ALC Group of Companies, which is also headed by D. Edgard A. Cabangon.

Water… Continued from A1

issued a decision saying the Philippine government should pay P7.4 billion to Manila Water and P3.4 billion to Maynilad for the losses they suffered from water rate hikes that were not enforced after the government stepped in. This ruling was based on the “non-interference” clause in the concession contracts. The President lambasted Manila Water and Maynilad and threatened to file a case of economic sabotage against the two water firms due to the “onerous” 1997 contracts with the government. Last December, the drafting committee—with representatives from the Office of the President, Department of Finance, DOJ, Office of the Solicitor General and Office of the Government Corporate Counsel—came up with a draft based on the terms approved by the review committee. The draft was then forwarded to the relevant Cabinet secretaries and the review committee for approval.

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Senators back calls to defer vehicle testing centers rule

By Butch Fernandez

HE Senate Committee on Public Services is poised to render a report endorsing a mounting clamor to defer implementation of the administration’s policy requiring vehicles to undergo testing in “a few select private centers” prior to registration.

Senator Grace Poe, panel chairperson, confirmed Wednesday she “will be submitting a committee report by next week.” First, Poe pointed out that “the government is not ready, it is under very suspicious terms that they approved these centers, and the people will be paying more out of pocket.” In a statement, Poe pleaded for concerned authorities to heed the mounting public clamor, airing concerns that “pushing ahead with the testing could prompt individuals or groups to seek legal remedies which may cite the Senate panel’s recommendations for suspension.” Poe had earlier filed a resolution for the Senate to look into the issues hounding the operations of the Private Motor Vehicle Inspection Centers (PMVIC), now being implemented in accordance with the Department of Transportation’s (DOTr) Department Order 2018-19, LTO’s Memorandum Circular 2018-2518 and other related issuances. At the same time, Senate

President Pro Tempore Ralph Recto debunked claims that the PMVIC is “a magic pill that will stop all road mishaps.” “It is wrong and misleading to attribute all road accidents to poorly maintained vehicles,” Recto said, shooting down a “favorite selling point” of PMVIC owners. “Yes, accidents are caused by clunkers on the road, but to spin that they are solely to blame is again an overreach,” Recto said. Many accidents, he said, are caused by “dark roads, confusing traffic signs, bad roads, ill-placed road barriers and the lack of safe pedestrian lanes or overpasses.” Recto reminded that “a welltuned car driven by someone with a high IQ who aced the driver’s test can still meet an accident if he sleeps on the wheel, or intentionally disregards a traffic light or sign.” Recalling the February 9 committee hearing, Poe did not rule out “legal questions” that may be raised “from the DOTr’s delegation of the testing to private centers.”

Continued from A1

Philippines has a large share of online workers, particularly in the creative and multimedia space. ADB data showed the Philippines accounts for 12 percent of global labor oversupply in at least one major platform. The potential workforce is estimated at 1.78 million; successful workers, 198,900; and the oversupply is 1.58 million. Of these numbers, the potential workforce in the Philippines is at 221,000; successful workers, 32,800; and the oversupply could reach 188,300. However, data also showed that 25 percent of online workers in the Philippines are doing clerical and data services. This is quite high compared to only 10 percent of workers doing the same kind of work in Bangladesh, India, Indonesia and Pakistan. The data also showed only 14 percent of Filipino online workers perform tasks related to software development and technology. This is lower compared to workers in this space in India at 59 percent; Vietnam, 52 percent; and Pakistan, 45 percent. “Although the Philippines has a large share of online workers in creative and multimedia, many are in jobs that have low value-added,” the report stated.

She cautioned that “there is really no legal basis for the DOTr to delegate a power that’s been given to them,” clarifying that this means “they have the power to do the testing, but for them to delegate it to a private company or individual, there is a legal concern regarding that, so it can definitely be challenged.” Poe added that her committee is asking for the identities of the 23 private centers accredited by the DOTr to do the testing even without public bidding, noting that in the selection of the centers, the department took out the provision prohibiting families and relatives of officials from participating. “All they did was put that those in the accrediting committee may not participate, meaning, you can still be a relative of an officer of the DOTr or the LTO [Land Transportation Office], or you yourself in the DOTr or LTO, as long as you’re not in the selection of accrediting committee, you may actually own a private motor vehicle inspection center,” noted Poe.

MVUC fund

MEANWHILE, Senate Minority Leader Frank Drilon thumbed down an option to open a separate probe of why funds from the Motor Vehicle Users Charge (MVUC) meant for purchase of multibillion-peso equipment for the Land Transportation Office to test the roadworthiness of trucks and buses were parked with the Philippine International Trading Corp. (PITC) since 2017. “No need for a separate

probe,” Drilon said in a text message to the BusinessMirror, adding: “It will be among the issues we will tackle when the committee hearing is called.” At the same time, the Minority Leader did not find credible the reported alibi of a “failed bidding.” “Given the PITC’s numerous ‘failed bidding’ claims, I do not find LTO’s line credible,” said Drilon. In a separate statement, Senate President Pro Tempore Recto pressed for the suspension of defective LTO policies, suggesting these “should be recalled for fixing like defective cars.” Recto rued that “the slew of LTO fees slaps taxes on the pandemic-hit people without basis in law nor approval from agencies and creates confusion, something which could have been avoided if the agency did not commit reckless speeding in implementing them.” The senior lawmaker lamented that the LTO’s “pileup of mistakes now look like a multiple car collision.” Besides the delegation to the PMVIC, he questioned the mandatory driving school enrollment, which he said is not required by any law. Republic Act 10930, which extends the validity of driver’s license, does not carry such a provision, but Recto said “this was hijacked to make it appear that said law mandates driving school enrollment.” The senator said “newer and higher” LTO fees also bypassed National Economic and Development Authority (Neda) review when the practice is that fees and charges must be reviewed by that agency.

‘PANDEMIC MAY SHRINK GLOBAL TRADE BY 22%’ In its Asian Economic Integration Report 2021, ADB projected that goods processing in global value chains may experience re-shoring to domestic markets as a result of Covid-19. If 10 percent to 20 percent of goods processing are re-shored, this could lead to a global trade contraction of 13 percent to 22 percent. The most affected regions are Southeast Asia, which could see trade contract by 14 percent to 25 percent; followed by Central Asia at 13 percent to 23 percent, and the Pacific and Oceania, 12 percent to 21 percent. “Southeast Asia and the Pacific and Oceania connect primarily with Asia’s value chain. The Asian economies most affected include Malaysia; Kazakhstan; Brunei Darussalam; Taipei, China; Singapore; Australia; Maldives; and the Republic of Korea,” the report stated.

Boon for PHL?

HOWEVER, in a webinar on Wednesday, ADB Economic Research and Regional Cooperation Department Director for Regional Cooperation and Integration Cyn-Young Park said a post-pandemic world could benefit the Philippines. Park said despite the partial reshoring that is forecast to occur after the pandemic, the Philippines still has a competitive advantage, particularly in providing services. She explained the post-pandemic trade landscape would place a premium on digital and services trade where the Philippines has a clear advantage. “Even when they [Philippines] are not exporting, there’s also offshore call centers, they can provide the services from the Philippines to around the world,” Park said. “These [sectors] are really some of the potential areas to benefit from a different form of globalization, more digitally connected globalization post-Covid.”

Low value-added online jobs

BASED on the report, ADB said the

Disputes

MEANWHILE, the report said the post-pandemic trade landscape would likely increase investor-state disputes and non-tariff measures, particularly on vaccines. The report stated that while international investment agreements (IIAs) can help facilitate the foreign direct investment (FDI) flows, questions raised about IIAs have surfaced. ADB said the increase in crossborder investment flows in the past 15 years has also increased the number of investor-state disputes (ISDs). Data showed that before 2000, very few ISD cases involved Asian economies. However, based on the World Bank’s International Center for

Settlement of International Disputes database, which covered a significant portion of ISDs worldwide, the numbers have steadily increased. The report counted 673 cases globally, including ongoing and concluded cases, since 2003. Of this number, around 83 cases concerned Asian economies. Disputes involving Asian states increased by 57 percent from 20002010 and 2011-2020. Most cases were concentrated in the oil, gas and mining, and electricity sectors. According to the report, Covid-19 could trigger the increase of these ISDs. This should prompt international investment tribunals to review state measures to tackle the pandemic and call for a moratorium on treaty-based ISD arbitrations related to Covid-19. “Provisions on expropriation could play a role in future Covid-19 disputes. Expropriation occurs when an investor can prove that the legal system has been changed in breach of a legitimate expectation the investor had at the time of making an investment,” the report stated. “To better respond to a crisis such as Covid-19, Asian governments should continue strengthening provisions in their BITs [bilateral investment treaties] to ensure that they are flexible and balanced,” it added. Meanwhile, ADB said non-tariff measures (NTMs) have significantly increased in Asia over the years, even before the onset of the Covid-19 pandemic. As of 2020, almost 12,000 NTMs have been imposed in Asia from just over 2,000 measures in 2000.

Trade curbs

AS of August 24, 2020, ADB said Asian economies enacted 36.4 percent of Covid-19-related trade measures. More than half or 54.7 percent aim to restrict trade, while only 45.3 percent aim to liberalize trade. Park said compared to 2019, there was an increase in NTMs imposed on medical supplies, but many of the new

trade measures implemented across Asia sought to liberalize trade. However, for certain goods, particularly food and other agricultural products, trade measures became more restrictive during the pandemic. “Unfortunately, there were more restrictive measures imposed on food during the pandemic. A lot of these new measures suggested that we need to have a stronger international cooperation to facilitate the flow of critical, essential goods such as medical supplies and food and agricultural products,” Park said. The report looked at Asia and the Pacific’s progress in regional cooperation and integration, and examines the initial impact of the pandemic on trade, cross-border investment, financial integration, and the movement of people. The report noted that the region’s trade performance, while hit hard during the first half of 2020, is expected to recover faster than anticipated. Asia’s merchandise trade volume growth hit bottom at -10.1 percent year-on-year in May, and has recovered gradually, turning into positive territory since September 2020. Investment flows globally and to the region are estimated to have fallen further in 2020, following a 7.7-percent slide in foreign direct investment to Asia in 2019 at $510.5 billion. Governments in the region can leverage and reap the benefits of the emerging digital economy through policies and reforms to improve digital infrastructure and connectivity, as well as access to them. These steps include promoting fair competition and improving ease-of-doing business processes, as well as enhancing labor security and social protection measures to align with digital jobs. The report also emphasized the need to focus on data privacy and security, taxation, partnership between public and private institutions, and regional cooperation.

HOUSE PANEL TO TRACK CLIMATE CHANGE FUNDS Continued from A12

“Over-reporting inflates actual contributions to our climate action. It is possible that it is simply a report wrongly made with no bad intentions, but without anyone looking, it is almost as if we are accepting the reports as they are,” Dela Cruz said. Moreover, Chatto agreed that the government should track the climate change funds. “We have to track the climate change fund and make sure it goes to projects that are much needed, whether for adaptation or mitigation, and make sure that there will be no fund duplication as sources come from local and international [donors],” the lawmaker said. “The committee will work closely with CCC for our oversight functions. We would like even more to know about international sources because we have heard that utilization of these funds for local governments is very, very difficult. We would like to reach out to LGUs and make these funds available to them,” he said. Also, he said the committee will make sure these funds will be scrutinized to make sure that the integrity of the projects being implemented is well within the framework of Nationally Determined Contributions under the Paris Agreement. Chatto said the committee will also study the passage of a measure governing climate finance accountability “that can result in climate adaptation or mitigation measures that are responsive to the need of every Filipino and can be felt by every Filipino.” “As a developing country with low carbon emissions but with high vulnerability to climate change, we are in need of support from developed countries in terms of climate finance as part of climate justice. They must deliver their commitments to finance innovative solutions in the developing world,” he added. Meanwhile, Chatto said his committee is also awaiting the report from the DOF regarding the Peoples’ Survival Fund (PSF). The PSF was created under Republic Act (RA) 10174, which was signed into law in 2012 amending the Climate Change Act of 2009. The P1-billion replenishable annual allocation intends to provide support on top of the yearly appropriations to LGUs for climate change-related programs and projects.

DOF oversight role

IN the same forum, Finance Assistance Secretary Paola Alvarez said the DOF is also now exercising its oversight function and Finance Secretary Carlos Dominguez, as the chairman of CCC, already gave instruction to make it more accessible for local governments. “We’re also looking into the rules implemented by CCC to set the criteria for the People’s Survival Fund” because, she said, Congress has been asking them why the PSF is “not utilized by the local governments so we are looking into that.” Dominguez, she added, “actually instructed them to do one on one with local governments and to act as sort of sales people. They should sell the benefits of the People’s Survival Fund so that more local government units can participate. I think these are the policies that we are looking into.” According to the DOF, among the activities eligible for funding by the PSF are projects on water resources management, land management, agriculture and fisheries, and health, along with other activities that serve as guarantee for the risk insurance needs of farmers, agricultural workers and other stakeholders. However, it said most of the proposals submitted to the PSF have failed to pass the initial screening due to incomplete documents or because the project activities are not eligible. PSF projects should clearly address the community’s climate vulnerabilities based on scientific and historical data.

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Bill authorizes LGUs to procure Covid-19 vaccines sans bidding By Jovee Marie N. Dela Cruz @joveemarie

OUSE leaders are pushing for the passage of a bill granting local government units (LGU) the authority to directly purchase Covid-19 vaccines from manufacturers without having to go through public bidding. Speaker Lord Allan Velasco, Majority Leader Ferdinand Martin Romualdez and Minority Leader Joseph Stephen Paduano filed House Bill 8648, or the proposed Emergency Vaccine Procurement Act of 2021 to provide exemptions to compliance by LGUs with the procurement requirements under Republic Act 9184 or the Government Procurement Reform Act. Under the bill, the requirement of Phase IV trials for Covid-19 medication and vaccine stipulated in the Universal Health Care Law is waived to expedite the procurement, provided that these are recommended and approved by the World Health Organization and other internationally recognized health agencies. As an additional exemption to the guidelines of RA 9184, concerned LGUs are authorized to engage in an advance payment mechanism for purposes of procuring vaccines from foreign manufacturers. The bill allows provinces, cities and municipalities to make advance payment not exceeding 50 percent of the contract amount for the procurement of Covid-19 drugs and vaccines, unless otherwise directed by the President. Following the advance payment of the supply of vaccines, the foreign manufacturer, in consideration of its agreement with the concerned LGU, shall undertake to deliver the supply of vaccines within six months from the date of perfection of the contract. However, the availment of the advance payment mechanism is not an exemption to the post-transaction audit that the Commission on Audit (COA) must conduct on the LGUs. The COA shall submit the posttransaction audit report to both houses of Congress before the end of the quarter when the transaction is perfected through that mode of payment. The LGUs may only purchase vaccines that are registered with the

Food and Drug Administration, or issued with an emergency use authorization status. The deployment of vaccines in every province, city and municipality must be in accordance with the national guidelines implemented by the Department of Health and the National Task Force Against Covid-19. Another important feature of the bill is the creation and administration of indemnification fund for the adverse events following immunization, or AEFI. Along with the monitoring of individuals who will receive the vaccine, Epidemiology and Surveillance Units of the Department of Health shall continuously survey and investigate incidents of AEFI. Moreover, the procurement, importation, storage, transport, distribution, and administration of Covid-19 vaccines by the local government units shall be exempt from customs duties, value-added tax, excise tax, and other fees, provided, that the vaccines acquired shall only be used for their residents and constituents, and not for commercial distribution. According to Velasco, this mechanism would ensure that Covid-19 vaccines are “procured and administered in an expeditious, effective, efficient and equitable manner.” “The next crucible in the fight against the Covid-19 pandemic is the speedy procurement and effective administration of vaccines against the deadly disease,” Velasco said. “Time is of the essence. Each day of delay is very costly for the government, and leaves many of our vulnerable countrymen exposed to the dangers of this disease,” he added. The House Speaker said LGUs play an important role in ensuring “people are protected, lives are saved, economic losses are stemmed and mitigated, and public trust and confidence in our institutions is restored.” He said the crucial fight against Covid-19 is the vaccination process of a significant part of the population to attain herd immunity and return to normal, noting that the country could no longer absorb the economic losses of any further restriction in economic activity.

Pentagon chief reaffirms commitment to PHL in territorial spat with China

By Rene Acosta

ing inflation rate, recorded at 4.2 percent in January,” Quimbo said. “So, yes our economy is sinking, the inflation rate is increasing, while economic output is decreasing. [But there is a solution —Bayanihan 3,” she added.

Bayanihan 2

MEANWHILE, DBM’s Toledo said total allotment releases under Bayanihan to Recover as One Act (Bayanihan 2) have so far reached P109.16 billion as of Tuesday. Special allotment release orders are issued by DBM to authorize agencies to incur obligations not exceeding a given amount during a specific period for the purpose indicated. Of the P140-billion allocation for Bayanihan 2, P103.24 billion or 73.74 percent was released, latest DBM data showed. On top of this, another P5.9 billion in Bayanihan 2 releases were sourced from regular funds under the 2020 national budget.

The reaffirmation of commitment by the US to its two most important defense and security agreements with the Philippines was made by US Defense Secretary Lloyd J. Austin III during his telephone conversation with Defense Secretary Delfin N. Lorenzana on Wednesday, Manila time. “Secretary Austin reaffirmed commitment to the Philippines-US alliance through the Mutual Defense Treaty, and the Agreement Regarding the Treatment of US Armed Forces Visiting the Philippines [VFA],” the Department of National Defense said in a news statement released to the media on Wednesday.

due to regional income disparities and the persistence of rural poverty. The Philippine performance was also off-track on SDG 16 on peace, justice, and strong institutions because of the deterioration in performance in the World Justice Project Rule of Law Index, including fundamental human rights, and in certain components of the Worldwide Governance Indicators. “The off-track path also implies that left-behind groups with respect to these SDG sub- indicators were starting from a more disadvantaged position when the pandemic struck, and the lockdowns and consequent economic and political hardships brought them additional misery. Social protection should therefore adequately target these groups,” the researchers said.

The US assurance came following Lorenzana’s expression of concern over a recent China Coast Guard law, which authorizes Chinese Coast Guard ships to fire at vessels even in maritime waters that are subjects of its expansive claims, including the West Philippine Sea (WPS). Lorenzana earlier said the issuance of the edict may probably raise the specter war, or at the least, a “miscalculation” in the South China Sea (SCS) that may trigger a maritime incident. Such concerns was echoed by Armed Forces of the Philippines (AFP) Chief of Staff Lt. General Cirilito Sobejana on Tuesday along with

DEFENSE Secretary Delfin Lorenzana talks to his US counterpart, Defense Secretary Lloyd J. Austin III, over the phone on Wednesday, February 10, 2021, on issues related to the Mutual Defense Treaty and Visiting Forces Agreement, among other matters. PHOTO COURTESY OF DND

other military officials. “That is very alarming. I should say it’s a very irresponsible statement because our countrymen are not going to that area, the disputed area, to wage a war, but to earn a living,” Sobejana stressed. He, nevertheless, said he would order an increased deployment, visibility and presence naval assets in the WPS as a measure to protect Filipino fishermen. During their conversation, Austin and Lorenzana also discussed other security matters, including the situation in WPS and the SCS, where China maintain a strong presence of its ships, including vessels manned by its maritime militias. The two officials looked into the

ongoing capability program of the AFP, which the US is currently supporting through the continued transfer and turnover of military equipment. Several weeks ago, the US turned over military drones, precision guided munitions and even bunker busting missiles to the AFP. The transfer followed the arrival of some of the procured Black Hawk helicopters from the Polish subsidiary of American defense manufacturer Lockheed Martin. Days ago, President Duterte announced that the government will procure additional 15 Black Hawks for the Air Force to pave the way for the phase out of its fleet of aging and crash-prone Huey helicopters.

Higher pay for private sector workers for February holidays

RIVATE sector employees who will report for work during two special holidays this month will be getting additional pay. This after President Duterte declared February 12, 2021 and Febr u a r y 25, 2021 a s spec i a l non-work i ng hol id ays for t he commemoration of Chinese New Ye a r a nd E d s a Pe o ple Po we r

“We would like to note that the release of funds particularly for Bayanihan 2 will depend on the submission of the requests of the implementing agencies with complete supporting documents,” Toledo said. “The DBM, likewise, assures that all requests will be immediately evaluated and processed within 24 hours upon receipt thereof.” Toledo made the remark after lawmakers urged the House Committee on Public Accounts to conduct an inquiry into the unreleased and unutilized appropriations under Bayanihan 2. Authored by 37 lawmakers, House Resolution 1558 seeks to probe the accountability, stressing that delays in releases forego the opportunity to rescue the economy and correlate with actual economic losses, according to AAMBIS-OWA Rep. Sharon Garin. Bayanihan 2 authorized P165.5 billion in emergency relief and spending, including a P25.5-billion standby fund.

With Jovee Marie N. Dela Cruz

Pandemic slows PHL gains in meeting SDG continued from a12 These goals are SDG 2 on hunger, given the country’s slow improvement in arresting stunting and wasting among children, and rising numbers of overweight children. The list also included SDG 3 on health, particularly because of the increase in HIV cases and the low number of public health facilities with essential medicines. PIDS researchers also said SDG 6 on access to water and sanitation was off-track given the poor management of, and access to water and sanitation facilities by households. The country was also off-track in SDG 12 on sustainable consumption and production as hazardous waste generated per capita kept growing. The study said progress in achieving SDG 10 on reducing inequality was off-track

@reneacostaBM

HE United States, under the administration of President Joe Biden, has reaffirmed its commitment to the Mutual Defense Treaty (MDT) and the Visiting Forces Agreement with the Philippines after Filipino defense officials raised serious concerns over China’s authorization for its Coast Guard to fire on vessels even in contested maritime territories.

Economic team to assess Bayanihan 3 fiscal impact continued from a12 The bill proposes to allocate P108 billion for additional social amelioration to impacted households, P100 billion for capacity-building for impacted sectors, P52 billion for wage subsidies, P70 billion for capacity-building for agricultural producers, P30 billion for Internet allowances to students and teachers, P30 billion for assistance to displaced workers, P25 billion for Covid-19 treatment and vaccines, and P5 billion for the rehabilitation of areas impacted by recent floods and typhoons. These funding proposals were not considered in the National Expenditure Program, which Malacañang submitted last year to assist Congress in the review, deliberation and passage of the national budget for 2021. Quimbo urged critics to look closely at Bayanihan 3 and how it can halt the steep decline of the country’s economy brought about by economic output stagnation and increase in inflation. “Together with the significant decline in economic output, we have seen an increas-

Editor: Vittorio V. Vitug • Thursday, February 11, 2021 A3

The SDGs comprise 17 goals with around 169 targets with 230 global indicators adopted in September 2015. The Global Goals aim to end poverty and hunger, promote universal health, education for all and lifelong learning, achieve gender equality, sustainable water management, ensure sustainable energy for all, decent work for all, resilient infrastructure, and reduce income inequality between and among countries. The goals also include: create sustainable cities, ensure sustainable consumption and production, take action against climate change, conserve and sustainably use oceans and marine resources, reduce biodiversity loss, achieve peaceful and inclusive societies, and revitalize global partnership for development.

Revolution, respectively, through Proclamation 986. In his Labor Advisory (LA) 2, 2021, Labor Secretary Silvestre H. Bello III said a “no work, no pay” scheme will take effect during both holidays “unless there is a favorable company policy, practice or collective bargaining agreement [CBA] granting payment on those days.”

For those who be on duty during both events, Bello said they will be entitled to 30 percent of their basic wage for the first eight hours of their work. If they will work overtime on both events,theyshouldgetanother30percent of their hourly rate on the said days. They will also receive an additional 50 percent of their basic wage if both holidays will coincide with their rest day.

Unlike the holiday pay rules issued by labor department last year, LA 2 does not contain any provision allowing employers to temporarily defer the payment of holiday pay of their employees. Bello reminded employers to comply with the said pay rules to avoid any complaint from their workers. Samuel P. Medenilla

Senators, friends pay tribute to late Ex-Sen.Victor S. Ziga in necro rites

NCUMBENT and former senators honored former Sen. Victor S. Ziga, who passed away on January 31, 2021 at the age of 75, during a hybrid necrological service held at the Senate session hall Wednesday. Ziga was accorded arrival honors led by Senate President Vicente C. Sotto III, the family of the former senator, and Senate officials. The Senate President presented to the family of the late senator Senate Resolution (SRN) 84, expressing the profound sympathy and sincere condolences of the Senate on the death of Ziga who served the chamber from 1987 to 1992. “The passing away of a great and dedicated public servant, who had established standards of excellence in and devotion to public service, is a great loss to the nation,” SRN 84 read. Sotto, in his eulogy, said Ziga’s life as a public servant truly mirrors the ideals as a man for the masses, being involved in numerous typhoon relief operations and other civic organizations. “When the pages of our history would be reviewed by the coming generations of students and the public, they would be convinced that there was a man who did his work quietly and without fanfare and pomposity but only the best interest of his country,” Sotto said. “We say goodbye to our dear colleague and friend, Filipino, and statesman, Sen. Victor S. Ziga. We shall all strive to follow your example of extraordinary simplicity while holding extraordinary power,” the Senate President added. For Senate Majority Leader Juan Miguel “Migz” F. Zubiri, Ziga was a brilliant legislator who was behind landmark legislations like the Government Assistance to Students and Teachers in Private Education, the Local Government Code of 1991, and the Magna Carta of Public Health Workers. “Sen. Victor Ziga was a doer through and through; a workhorse who got things done without needing much fanfare. Instead his legacy persists through the work he has left behind.... Even beyond his

and pursuit of excellence certainly deserve the admiration not only of Bicolandia but the entire Philippines,” Lina said. Sen. Win Gatchalian said apart from being a statesman, a lawyer and a business leader, Ziga is also a family friend. “Vic Ziga earnestly carried on this proud family tradition by making significant contributions to nation building in these turbulent times in our republic’s history. Throughout his distinguished career as a member of the Batasan Pambansa, Cabinet secretary, and senator of the 8th Congress of the Philippines. Sen. Ziga embodied the patriotism, integrity and competence we should expect from every Filipino leader,” Gatchalian said.

THE late former Senator Victor Ziga Sr. PHOTO COURTESY OF ALBAY REP. JOEY SALCEDA

political career, he devoted himself to helping the Filipino in any way he could—medical missions, relief operations, emergency response,” Zubiri said. Ziga, according to Senate Minority Leader Franklin Drilon, is a simple man who was raised to be of service to the Filipino people. Apart from being one of the magnificent 12 who voted against the extension of the PHL-US bases treaty in 1991, Ziga also ensured that health-care workers were protected by passing the Magna Carta of public health workers, a measure that is significant today because of the pandemic health workers would have to address, Drilon said. “I did not have the honor to work with Vic [Ziga] in this august chamber, but I consider it a distinct privilege to have worked with him in the Liberal Party [LP]. Sen. Ziga as well as his mother, former Sen. Tecla San Andres Ziga, were stalwarts of the LP,” Drilon added. Former Laguna governor and Sen. Joey Lina, in his virtual eulogy, described Ziga’s pursuit of excellence in life as inspiring, noting that apart from becoming a lawyer, he was also a highly successful politician. “Indeed, fixed sterling accomplishment in life

Sen. Christopher Lawrence Go, who consider Ziga as an inspiration, vowed to continue his advocacy against the use and abuse of illegal drugs. “As a new senator, former Sen. Ziga is an inspiration to me and to the new generation of senators and public servants. Aside from the proposed bills he pushed as a senator and as a member of the Batasang Pambansa, nothing could diminish his significant contribution to the executive and the private sector. We cannot repay all of this and for this we are truly thankful,” added Go, who first crossed paths with the former senator when he joined the group campaigning for the presidency of then Mayor Rodrigo Duterte in 2015. Sen. Emmanuel “Manny” Pacquiao described Ziga as a noble public servant who used his influence to protect the weak and the vulnerable sector, including the youth and the senior citizen. “We take comfort knowing that he maximized his potentials by serving the people. He was a noble public servant, lived his life to the fullest and we are all inspired... I am inspired. Today, let us make a commitment to honor his legacy by also loving our country with utmost courage and determination. When we do so, we glorify and magnify our Almighty God and Father, the creator of heaven and earth,” Pacquiao said in his virtual eulogy.

A4 Thursday, February 11, 2021 • Editor: Vittorio V. Vitug

Economy BusinessMirror

USDA sees 10% decline in PHL rice imports this year to 2.2 MMT

By Jasper Emmanuel Y. Arcalas

@jearcalas

HE country’s rice imports this year could decline by 10 percent to a four-year low of 2.2 million metric tons (MMT) on the back of rising domestic harvest, the United States Department of Agriculture (USDA) said. In its latest monthly global grain market report, the USDA revised downward its import forecast for the Philippines to 2.2 MMT from 2.3 MMT earlier estimate. The USDA slashed its import forecast for the Philippines as it estimates higher milled rice output for 2021. The USDA said domestic milled

rice production this year could reach a three-year high of 12.2 MMT. The volume was 1.6 percent higher than the USDA’s earlier production estimate of 12 MMT last January. The USDA kept its rice consumption and residual forecast for the Philippines this year at a record-high 14.4 MMT.

The USDA revised upward its fullyear rice import estimate for China in 2020 to 2.9 MMT from 2.3 MMT. With the upward revision, China has overtaken the Philippines last year as the biggest buyer of rice in the global market, based on USDA data. The Philippines imported about 2.45 MMT of rice last year, according to the USDA. The Philippines became the largest buyer of rice in the global market in 2019 after it enacted a law that deregulated its rice industry and eased restrictions on importation. The Philippine Department of Agriculture (DA) said it targets to increase the country’s unhusked rice output to a new record-high of 20.4 MMT from last year’s 19.44 MMT. If the production target is realized, the country will achieve a 95 percent self-sufficiency level in rice, according to the DA.

The DA had earlier filed a petition before the Tariff Commission to reduce the most favored nation (MFN) rates on rice imports to 35 percent from the current 40 percent (in-quota) and 50 percent (out-quota) levels. The tariff reduction measure is supported by the Department of Finance. The DA and the DOF said the reduction in tariff would result in more available cheaper rice sources for the Philippines as export prices in Thailand and Vietnam continue to rise. The DA and the DOF are looking at South Asian countries as alternative suppliers to the country’s staple supply. The DOF noted that rice export prices in India are now 30 percent cheaper than their counterparts in Vietnam and Thailand. At least 90 percent of the country’s rice imports come from Vietnam and Thailand.

www.businessmirror.com.ph

Govt to cover vaccination of MSME workers–DTI

HE government has ceased collecting vaccine orders for micro, small and medium enterprises (MSMEs) on the promise that the state’s procurement would be enough to cover the entirety of the population. Trade Secretary Ramon M. Lopez on Wednesday announced the government terminated efforts to collect vaccine orders from MSMEs. He said only 10 MSMEs have so far reserved for shots, and their requirements are of “minimal quantity.” Likewise, Lopez argued the government is purchasing enough for the whole of population, and that it can cover MSMEs and their workers. “Not too much submitted,” Lopez said in a text message. “Latest from vaccine committee is we suspended the consolidation since there will be more than enough government purchases and current tripartite agreements to cover vaccination of all frontliners, including economic frontliners and workers.” In January Lopez said the trade department would consolidate orders for vaccine doses placed

by MSMEs as part of efforts to acquire shots for members of the private sector. According to Lopez, the orders made by MSMEs would be collated and would be included in the country’s purchase from vaccine manufacturers abroad. He said it would also ensure even the smallest of firms will be given access to Covid-19 vaccines. The government is eyeing to bring in 148 million doses to vaccinate at least 70 million people, as it pins its hopes on the program to boost the economic recovery for the country. The government had secured an agreement with China’s Sinovac Biotech for the supply of 25 million doses of its vaccine. The first batch of 50,000 shots are slated to arrive here in February, and the rest of the order will come in from March to December. Authorities are also negotiating with pharmaceutical giants AstraZeneca, Moderna and Pfizer, as well as Russia’s Gamaleya Institute, for the purchase of the vaccines they created. Elijah Felice E. Rosales

Romblon execs urge ERC to avert blackouts

HE Sangguniang Panlalawigan (SP) of Romblon and nine municipal mayors of Tablas Island on Tuesday appealed to the Energy Regulatory Commission (ERC) to help avert an impending power crisis in the province. In a unanimously approved resolution, Romblon’s provincial board appealed for the early resolution of Suweco Tablas Energy Corp.’s (STEC) power rate petition to ensure steady supply of electricity, amid the pandemic and coming summer months. A similar plea to ERC Chairman Agnes VST Devanadera was aired by Mayors Riza Pamorada of Alcantara; Marietta Babera of Calatrava; Jovencio Mayor Jr. of Ferrol; Lisette Arboleda of Looc; Lorilie Fabon of Sta. Maria; Arsenio Gadon of San Andres; Esteban Madrona of San Agustin; Elsie Visca of Santa Fe; and Trina Alejandra Firmalo-Fabic of Odiongan. “During these times of

pandemic, the need for stable and reliable power supply is significant in order to effectively prevent the spread of the virus. In addition, since most of our constituents are staying at home, curtailing the power supply will gravely affect them,” the mayors said in their joint letter appeal. STEC, the lone power supplier in Tablas Island, earlier advised ERC and its customers that it would scale down operations by February 15, 2021. It cited hundreds of millions of pesos in business losses due to the regulatory agency’s interim power rate approvals. The firm said the ERC-approved rates are insufficient to maintain its operations at current capacity. Earlier, Romblon Rep. Eleandro Jesus Madrona made a similar plea. “I understand that the combination of ERC’s decision to charge solar rate for diesel in excess of the generation mix and computing the generation mix

QC waives rental fees of meat retailers affected by price cap in public markets

HE Quezon City government has announced that it will waive the rental fees in public markets of meat retailers who are unable to sell pork meat due to the price cap imposed by Malacañang on meat and chicken. Mayor Joy Belmonte made the pronouncement after inspecting the prices of pork in Commonwealth Market and Mega Q Mart, together with representatives from the Department of Agriculture, Department of Trade and Industry and the Metropolitan Manila Development Authority. “We have decided to waive their rental fees to help them cope with the current crisis, and we enjoin our private markets to do the same,” Belmonte said. She also instructed the Market Development and Administration Department (MDAD) to coordinate with market vendors on other forms of assistance they could be given while waiting for the subsidized supply of pork from the DA. Belmonte earlier ordered the MDAD, headed by Procopio Lipana, to step up its inspection of private and public markets in the city to ensure the strict enforcement of President Duterte’s Executive Order 124. The President’s directive placed the price ceiling of kasim/pigue at P270 per kilo, liempo at P300 per kilo and dressed chicken at P160 per kilo for 60 days.

“We are making sure that meat retailers do not take advantage of our consumers and we will intensify our monitoring and enforcement in order to protect our consumers’ rights,” Belmonte said. “Our local price coordinating council which was activated in December 2019, will be working closely with the Department of Agriculture to monitor the price and supply of basic goods and commodities. I-imbestigahan natin ang mga retailer na mag-o-overprice ng mga produktong ito at ’yung suppliers nila,” she added. Lipana, for his part, said meat retailers who will not comply with the mandated price ceiling will receive a notice of violation. “Mayroon po tayong mga nakatalagang team, araw-araw po nag-iinspeksyon ang mga tao natin upang makasiguro tayo na tama ang presyo ng mga produkto sa market,” Lipana said. Lipana also reported that one market in District 1, 2 markets each in Districts 2 and 3, three markets in District 4, nine markets in District 5 and seven markets in District 6 earlier informed MDAD that they won’t sell pork meat if their respective suppliers will deliver high prices of meat. The MDAD conducts random inspections of the city’s markets to ensure that retailers only sell quality products and do not overprice other goods and commodities.

on a monthly basis led to STEC’s massive losses,” he said. Madrona said ERC’s mandate is to protect not just electricity consumers but also investors who poured in money to help energize small islands like Romblon. The lawmaker warned that thousands of consumers will suffer should STEC reduce its operations. While a power-rate hike will raise electricity costs in the island, Madrona said this is better than having no power at all. “Remember, the most expensive electricity is no electricity,” he stressed. “On behalf of memberconsumers of Tablas Island Electric Cooperatives Inc., I’m humbly appealing to ERC Chair Devanadera to immediately resolve and give STEC’s final rate. Should power outages occur, this would be very embarrassing considering that it was President Duterte himself who inaugurated the Solar Plant of STEC in August 2019,” Madrona said.

CODE TEAM IN SAN JUAN CITY

San Juan City Mayor Francis Zamora (right) welcomes Metropolitan Manila Development Authority Chairman Benjamin “Benhur” Abalos Jr. with a fist bump during the Covid-19 vaccine Coordinated Operations to Defeat Epidemic (CODE) Team visit at San Juan City Hall on Wednesday, February 10, 2021. The CODE Team has been visiting local government units to oversee their preparedness for the nationwide Covid-19 vaccination program. PNA/JOEY O. RAZON

SMC sets wholesale pork, chicken prices at ‘least cost’

N a bid to ensure stable and affordable supply of quality meats in the market, San Miguel Corp. (SMC) said it is setting the wholesale prices of its pork and chicken products for wet markets at “least cost” to allow distributors and resellers to still make reasonable profits, while keeping to government’s 60-day price ceiling in Metro Manila. The company will also maintain the current wholesale price of pork to its Monterey franchisees to keep its meats affordable. The move aims to protect consumers from manipulators jacking up prices of meats amid the ongoing pandemic and the African swine fever emergency. Executive Order 124 has set the price cap for dressed chicken at P160, the pigue part of pork at P270 per kilo, and liempo at P300 per kilo. Before the price ceiling was set, reports indicated that a kilo of pork cost over P400. “As a leading food manufacturer, we have a responsibility to the consumers.

We want to make sure that the objective of the order is met, and that is to make pork and poultry products still within reach of many Filipinos. Our commitment to government, through the Department of Agriculture [DA], and our countrymen, is that we will deliver goods to our wet market distributors at the least cost. This way, they can pass these on to resellers at still favorable prices, and they can still profit while keeping to the price caps,” said SMC President Ramon S. Ang. “We will closely monitor prices to make sure those in our chain will follow the price caps. This way, we can help ensure that prices in wet markets will go down to the level of government’s mandated prices, so that more consumers will benefit,” he added. Ang said that he has also ordered the company’s food unit, San Miguel Foods, to expand distribution and widen its wet market presence, so it can help further keep prices down and supply stable for more Filipinos.

BOI, DOST-PCIEERD LAUNCH PINOY TECH COMPENDIUM

HE Board of Investments (BOI) and the Philippine Council for Industry, Energy and Emerging Technologies of the Department of Science and Technology (DOST-PCIEERD) have put together a compendium of select Filipino technologies that are ready for adoption and commercialization. The compendium, which was soft launched on December 10, 2020, at the DOST-PCIEERD’s 10th anniversary, features locally developed technologies supported by the government through DOST-PCIEERD and includes summary information about the technologies, including its various applications, uses and development status. The compendium is accessible and ready for download through http://projects.pcieerd.dost.gov. ph/. Visitors can also go to the BOI web site, click Compendium of Technologies under the Resources tab to be redirected to the compendium. “The BOI is proud to partner

with DOST-PCIEERD in doing this compendium. This collaboration is a testament to our shared advocacy in pursuit of inclusive innovation that serves the needs of the people and ultimately, propels the economy towards sustained industrialization,” BOI Executive Director for Industry Development Ma. Corazon Halili-Dichosa said. The BOI is encouraging local industries to look through the compendium for technologies that may suit their business needs, and to reach out to BOI and PCIEERD for their research and development needs. “Through this compendium, we renew our partnership with BOI and the industry in bringing more responsive and competitive scientific and technological innovations and improving the quality of life of all Filipinos,” Dr. Enrico C. Paringit, PCIEERD executive director added.

Katipunan Avenue road extension project to open this year–DPWH

OTORISTS going to Batasan and San Mateo, Rizal, can soon expect faster trips with the significant progress of the 3.38-kilometer Katipunan Avenue Extension project in Quezon City. During his inspection, Department of Public Works and Highways (DPWH)

Secretary Mark A. Villar expressed optimism that the project will soon be able to cater to the increasing demand for alternate route from Katipunan to Barangay Batasan Hills and towards the Province of Rizal to ease the traffic situation at Katipunan and Commonwealth Avenues in Quezon City.

“We are fast-tracking the construction of Phases 1 and 2 from Metropolitan Waterworks and Sewerage System [MWSS] Property and Government Service Insurance System [GSIS] Properties to Vista Real Subdivision which are now 60 percent and 90 percent complete, respectively,” said Villar.

According to DPWH Quezon City First District Engineer Loida S. Busa, they have already delivered the 800-meter road extension under Phase 3 and the 22.50-meter permanent bridge along Vista Real Classica Subdivision at Barangay Batasan Hills, QC.

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24/7 BUSINESS PROCESSING INC. 9/f Capella Bldg. L-3&4 B2,filinvest Alabang Muntinlupa City MANDARIN SPEAKING GONG, ZEJIAN 1. CUSTOMER SERVICE Chinese REPRESENTATIVE MANDARIN SPEAKING LIU, WEI 2. CUSTOMER SERVICE Chinese REPRESENTATIVE MANDARIN SPEAKING WEI, KAIQI 3. CUSTOMER SERVICE Chinese REPRESENTATIVE MANDARIN SPEAKING ZHU, ZHIMIN 4. CUSTOMER SERVICE Chinese REPRESENTATIVE 3D ANALYZER INFORMATION TECHNOLOGIES INC. 7-8/f Double Dragon Plaza 255 Edsa Cor. Macapagal Blvd. Brgy. 076 Pasay City CUSTOMER SERVICE CHEN, YANTING 5. REPRESENTATIVE - MANDARIN Chinese SPEAKING CUSTOMER SERVICE WANG, TAO REPRESENTATIVE - MANDARIN 6. Chinese SPEAKING 8 STONE BUSINESS OUTSOURCING OPC 5th-10th/f Tower 3, Pitx #1 Kennedy Road Tambo Parañaque City GU, LIANG CUSTOMER SERVICE 7. Chinese REPRESENTATIVE LEI, ZHI CUSTOMER SERVICE 8. Chinese REPRESENTATIVE LI, YIJUN CUSTOMER SERVICE 9. Chinese REPRESENTATIVE LIU, RUNZI CUSTOMER SERVICE 10. Chinese REPRESENTATIVE PHUNG HUE SAN CUSTOMER SERVICE 11. Vietnamese REPRESENTATIVE QIN, HUAZENG CUSTOMER SERVICE 12. Chinese REPRESENTATIVE WU, BICAI CUSTOMER SERVICE 13. Chinese REPRESENTATIVE XU, KEXIN CUSTOMER SERVICE 14. Chinese REPRESENTATIVE ZHAN, JIASHUANG CUSTOMER SERVICE 15. Chinese REPRESENTATIVE BRENPRO INC. U-213 2/f Buma Bldg. 1012 Metropolitan Ave. San Antonio Makati City NGUYEN VIET HAI 16. TECHNICAL SUPPORT Vietnamese CHINA HARBOUR ENGINEERING COMPANY 5/f Rm 501 Ramon Magsaysay Center 1680 Roxas Blvd. 076, Bgy. 699 Malate Manila CAI, YUSHUN ASSISTANT PROJECT 17. Chinese CONTROLS SPECIALIST WANG, JING CONSTRUCTION 18. Chinese MANAGEMENT SPECIALIST WANG, LIN FACILITIES CONSTRUCTION 19. Chinese SPECIALIST CLICKPLAY SPORTSGAME CORP. 3/f, #119 Dr. Lazcano St. Laging Handa 4 Quezon City CHANG, CHIH-CHIA 20. TECHNICAL SUPPORT Taiwanese 21. YANG, LING-YI, Taiwanese TECHNICAL SUPPORT CONSULTING SUPERIORS INC. Unit No. 2c, Flr. No. 4/f, One E-com Center Bldg. Ocean Drive Mall Of Asia Complex St. Zone 10, Barangay 076, District 1 Pasay City CHEN, JIAJIAN CHINESE SPEAKING ADMIN 22. Chinese ASSOCIATE CHEN, QUAN CHINESE SPEAKING ADMIN 23. Chinese ASSOCIATE ZHAI, YULIN CHINESE SPEAKING ADMIN 24. Chinese ASSOCIATE DA PROSPERITAS HOLDING INC. 16/f Tower 6789 6789 Ayala Ave. Bel-air Makati City FU, LUQI CHINESE SPEAKING ADMIN 25. Chinese ASSOCIATE PAN, LIU CHINESE SPEAKING ADMIN 26. Chinese ASSOCIATE WU, DI CHINESE SPEAKING ADMIN 27. Chinese ASSOCIATE WU, YOUYIN CHINESE SPEAKING ADMIN 28. Chinese ASSOCIATE XU, YINGCUI CHINESE SPEAKING ADMIN 29. Chinese ASSOCIATE YU, JIANMING CHINESE SPEAKING ADMIN 30. Chinese ASSOCIATE DA SUCCESS BUSINESS TRADING INCORPORATED 2503 The Finance Centre 26th Street Corner 9th Avenue Fort Bonifacio Taguig City GUO, HAO MANDARIN SPEAKING 31. Chinese MARKETING SPECIALIST DAIKIN AIRCONDITIONING PHILIPPINES, INC. Exxa Tower Bridgetown C-5 Road Ugong Norte 3 Quezon City TAKEUCHI, KAZUYUKI GENERAL MANAGER - AFTER 32. Japanese SALES SERVICE DOOSAN HEAVY INDUSTRIES & CONSTRUCTION CO., LTD. 1802 18 Flr. One World Place 32nd St. Cor. 9th Ave. Fort Bonifacio Taguig City OH, JUNG YOUNG 33. COUNTRY DIRECTOR South Korean ESTUDIO ARKIPELAGO CONSULTANTS INC. Unit 1102 One Park Drive 11th St. Fort Bonifacio Taguig City DIAZ DE MIRANDA BUSINESS DEVELOPMENT 34. FERNANDEZ DE MOLINA, MANAGER FELIPE ANTONIO, Spanish DEUS ALONSO, NATALIA INTERNATIONAL 35. Spanish PROCUREMENT MANAGER AMPUDIA GAMERO, PROJECT EXECUTION 36. ENDIKA, Spanish MANAGER EXQUISEEN INC. Unit 1 & 3 14/f Shhg Law Center Sycip Law Center 105 Paseo De Roxas San Lorenzo Makati City JIANG, XIAOLONG CHINESE SPEAKING COGNOS 37. Chinese DEVELOPER XU, GAOYUN CHINESE SPEAKING SYSTEMS 38. Chinese ANALYST FAREAST OUTSOURCE PROCESSING INC. 7th, 8th, 9th Flr. Nu Tower Moa Coral Way Brgy. 076 Pasay City LU KIM TU CUSTOMER SERVICE 39. Vietnamese REPRESENTATIVE (CSR) TANG, LISONG CUSTOMER SERVICE 40. Chinese REPRESENTATIVE (CSR) FRONTIER TOWER ASSOCIATES PHILIPPINES INC. Ug/f Somerset Olympia Bldg. 7912 Makati Ave. Urdaneta Makati City HIGGINS, ALUN CHARLES HEAD OF PROCUREMENT AND 41. Irish SUPPLY CHAIN FUXINGYING CAIYUN HENTONG, CORP. 7th, 8th, 9th, 10th Floor Eton Ewestpod Chino Roces Avenue Cor. Yakal & Malugay Streets San Antonio Makati City 42.

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GLOBAL ALLY ENTERPRISES, INC. Unit 8-1 Ibm Plaza Bldg. Eastwood Cyberpark City Bagumbayan 3 Quezon City JIA, HOUYA CUSTOMER SERVICE 69. Chinese REPRESENTATIVE GLOBALLGA BUSINESS PROCESS OUTSOURCING 2nd, 3rd & 6th Flr. Ortigas Technopoint 2 Ortigas Home Depot Complex #1 Doña Julia Vargas Ave. Pasig City CUSTOMER SERVICE LIU, FUQI 70. REPRESENTATIVE MANDARIN Chinese SPEAKING CUSTOMER SERVICE XIE, HUAN 71. REPRESENTATIVE MANDARIN Chinese SPEAKING CUSTOMER SERVICE YAN, XIAOHU 72. REPRESENTATIVE MANDARIN Chinese SPEAKING CUSTOMER SERVICE YANG, YUQUN 73. REPRESENTATIVE MANDARIN Chinese SPEAKING CUSTOMER SERVICE YUAN, JIPENG 74. REPRESENTATIVE MANDARIN Chinese SPEAKING CUSTOMER SERVICE ZHANG, JUNBO 75. REPRESENTATIVE MANDARIN Chinese SPEAKING HE, YINGYUE MARKETING STAFF MANDARIN 76. Chinese SPEAKING GUANGXI HYDRO ELECTRIC CONSTRUCTION BUREAU (GHCB PHILIPPINES CORPORATION) #58 Road 1 Project 6 1 Quezon City QIN, WEISHOU MANDARIN OPERATIONS AND 77. Chinese MAINTENANCE MANAGER MANDARIN OPERATIONS AND LI, MIANJIN 78. MAINTENANCE RECORDING Chinese SYSTEM HUA JIE MANAGEMENT AND CONSULTANCY CO. LTD. INC. Unit 146 The Manila Residence Tower 2 Taft Ave. 078 Bgy. 709 Malate Manila CUSTOMER SERVICE CHEN, JIAXIN 79. REPRESENTATIVE (MANDARIN Chinese SPEAKING) CUSTOMER SERVICE DENG, WEI 80. REPRESENTATIVE (MANDARIN Chinese SPEAKING) INTEGRITY GLOBAL GROUP, INC. 2/f-3/f Ayala Malls Circuit A.p. Reyes Ave. Carmona Makati City HE, LINZHAO CUSTOMER SERVICE 81. Chinese REPRESENTATIVE CUSTOMER SERVICE CHEN, FENG 82. REPRESENTATIVE (MANDARIN Chinese SPEAKING) CUSTOMER SERVICE FAN, KEXIN REPRESENTATIVE (MANDARIN 83. Chinese SPEAKING)

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FOREIGN NATIONAL / NATIONALITY

ESTABLISHMENT / ADDRESS POSITION

CUSTOMER SERVICE REPRESENTATIVE (MANDARIN SPEAKING) CUSTOMER SERVICE LIANG, ZHONGYUAN 85. REPRESENTATIVE (MANDARIN Chinese SPEAKING) CUSTOMER SERVICE LIU, ZHAO REPRESENTATIVE (MANDARIN 86. Chinese SPEAKING) CUSTOMER SERVICE OUYANG, YONGJIA REPRESENTATIVE (MANDARIN 87. Chinese SPEAKING) CUSTOMER SERVICE QIN, HAOTIAN 88. REPRESENTATIVE (MANDARIN Chinese SPEAKING) CUSTOMER SERVICE WANG, LIQUAN REPRESENTATIVE (MANDARIN 89. Chinese SPEAKING) CUSTOMER SERVICE WANG, SISONG REPRESENTATIVE (MANDARIN 90. Chinese SPEAKING) CUSTOMER SERVICE YAN, AN 91. REPRESENTATIVE (MANDARIN Chinese SPEAKING) CUSTOMER SERVICE ZHANG, FAYUAN REPRESENTATIVE (MANDARIN 92. Chinese SPEAKING) CUSTOMER SERVICE ZHAO, GUOWEN 93. REPRESENTATIVE (MANDARIN Chinese SPEAKING) CUSTOMER SERVICE ZHU, HAIJUN 94. REPRESENTATIVE (MANDARIN Chinese SPEAKING) JINSHENGLONG BUSINESS SUPPORT, INC. 3rd, 4th, 5th, 7th, 8th, 9th Flr. Filinvest Bay City Brgy. 076 Pasay City JING, YONGCHANG CUSTOMER SERVICE 95. Chinese REPRESENTATIVE MASTERLINK CORP. 7/f Ba Lepanto Bldg. 8747 Paseo De Roxas Bel-air Makati City ZHANG, XIAOWEN CHINESE MARKETING 96. Chinese SPECIALIST MEGA-WEB TECHNOLOGIES INC. 6,7,8,9,10,11/f Met Live Bldg. Edsa Cor. Macapagal Blvd. Brgy. 076 Pasay City MANDARIN SPEAKING CHEN, YI-WEN 97. CUSTOMER RELATIONS Taiwanese SERVICE PROVIDER MANDARIN SPEAKING CHEN, JINGHAO 98. CUSTOMER RELATIONS Chinese SERVICE PROVIDER MANDARIN SPEAKING CHEN, LEI 99. CUSTOMER RELATIONS Chinese SERVICE PROVIDER MANDARIN SPEAKING CHI, XUAN 100. CUSTOMER RELATIONS Chinese SERVICE PROVIDER MANDARIN SPEAKING LI, ZHIWEI 101. CUSTOMER RELATIONS Chinese SERVICE PROVIDER MANDARIN SPEAKING LIU, ZIYAN 102. CUSTOMER RELATIONS Chinese SERVICE PROVIDER MANDARIN SPEAKING LIU, JIAQIANG 103. CUSTOMER RELATIONS Chinese SERVICE PROVIDER MANDARIN SPEAKING SU, JING CUSTOMER RELATIONS 104. Chinese SERVICE PROVIDER MANDARIN SPEAKING SUN, AN 105. CUSTOMER RELATIONS Chinese SERVICE PROVIDER MANDARIN SPEAKING SUN, LE 106. CUSTOMER RELATIONS Chinese SERVICE PROVIDER MANDARIN SPEAKING SUN, QIANG 107. CUSTOMER RELATIONS Chinese SERVICE PROVIDER MANDARIN SPEAKING XIANG, XUEBIN 108. CUSTOMER RELATIONS Chinese SERVICE PROVIDER MANDARIN SPEAKING XIONG, QI 109. CUSTOMER RELATIONS Chinese SERVICE PROVIDER MANDARIN SPEAKING ZHANG, DONGYU 110. CUSTOMER RELATIONS Chinese SERVICE PROVIDER MANDARIN SPEAKING ZHOU, CAIYONG 111. CUSTOMER RELATIONS Chinese SERVICE PROVIDER MANDARIN SPEAKING ZHU, WENHUI 112. CUSTOMER RELATIONS Chinese SERVICE PROVIDER MF CONSULTANCY MANAGEMENT SERVICES INC. Unit 1001 10/f Antel 2000 Corporate Centre 121 Valero St. Bel-air Makati City QIU, CONGXIAO CHINESE SPEAKING CUSTOMER 113. Chinese RELATIONS OFFICER MOA CLOUDZONE CORP. 4th-11th Flr. Nexgen Tower C4 Rd. Edsa Ext. Brgy. 076 Pasay City 114. CHEN, XIAODAN, Chinese CHINESE CUSTOMER SERVICE 115. CHEN, ZHOU, Chinese CHINESE CUSTOMER SERVICE 116. LIAO, YUNLONG, Chinese CHINESE CUSTOMER SERVICE 117. LIU, HUI, Chinese CHINESE CUSTOMER SERVICE 118. LU, HAOHONG, Chinese CHINESE CUSTOMER SERVICE 119. LWIN MOE , Myanmari CHINESE CUSTOMER SERVICE NANG LAO HLAING 120. CHINESE CUSTOMER SERVICE Myanmari 121. PAN, ZHIWEN, Chinese CHINESE CUSTOMER SERVICE 122. PENG, LIN, Chinese CHINESE CUSTOMER SERVICE 123. QING, YANMEI, Chinese CHINESE CUSTOMER SERVICE REN, JINGCHENG 124. CHINESE CUSTOMER SERVICE Chinese SAI AUNG MAIN 125. CHINESE CUSTOMER SERVICE Myanmari 126. SOE SOE WIN , Myanmari CHINESE CUSTOMER SERVICE 127. SU, LIANGDE, Chinese CHINESE CUSTOMER SERVICE TIN MYO AUNG 128. CHINESE CUSTOMER SERVICE Myanmari TRAN THI QUYNH 129. CHINESE CUSTOMER SERVICE PHUONG , Vietnamese 130. WANG, TIANYI, Chinese CHINESE CUSTOMER SERVICE 131. WANG, YONGQI, Chinese CHINESE CUSTOMER SERVICE 132. WANG, JINFA, Chinese CHINESE CUSTOMER SERVICE 133. WEN, BO, Chinese CHINESE CUSTOMER SERVICE 134. WU, SULI, Chinese CHINESE CUSTOMER SERVICE 135. WU, XIAOYI, Chinese CHINESE CUSTOMER SERVICE 136. XU, CHAO, Chinese CHINESE CUSTOMER SERVICE 137. XUE, JIANHUA, Chinese CHINESE CUSTOMER SERVICE YANG, MINGCHAO 138. CHINESE CUSTOMER SERVICE Chinese 84.

HU, ZHIQIANG Chinese

NO.

FOREIGN NATIONAL / NATIONALITY

POSITION

YANG, ZHAOCHAO CHINESE CUSTOMER SERVICE Chinese 140. YU, YUNZHU, Chinese CHINESE CUSTOMER SERVICE ZHANG, DONGHUI 141. CHINESE CUSTOMER SERVICE Chinese 142. ZHONG, JIE, Chinese CHINESE CUSTOMER SERVICE 143. ZHOU, JUN, Chinese CHINESE CUSTOMER SERVICE MPOTECH DIGITAL SYSTEM, INC. 11 P/f Burgundy Corporate Tower 252 Sen. Gil Puyat Ave. Pio Del Pilar Makati City DARSON SURYA JAYA 144. BILINGUAL SUPERVISOR Indonesian NEW ORIENTAL CLUB88 CORPORATION 3rd, 5th, 6th, 7th, 8th, 9th & 10th/f Pearl Marina Building Pacific Drive Don Galo Parañaque City CHEN, XIANGCHENG 145. CHINESE CUSTOMER SERVICE Chinese DENG, QIAOXIONG CHINESE CUSTOMER SERVICE 146. Chinese 147. DU, XIAOFANG, Chinese CHINESE CUSTOMER SERVICE FENG, WEIZHEN 148. CHINESE CUSTOMER SERVICE Chinese 149. GUO, JING, Chinese CHINESE CUSTOMER SERVICE 150. HUANG, ZITING, Chinese CHINESE CUSTOMER SERVICE 151. LIU, JIANGLONG, Chinese CHINESE CUSTOMER SERVICE 152. MA, DONGBO, Chinese CHINESE CUSTOMER SERVICE 153. SHU, ZHANPENG, Chinese CHINESE CUSTOMER SERVICE 154. SUN, XUEFEI, Chinese CHINESE CUSTOMER SERVICE 155. WU, SI, Chinese CHINESE CUSTOMER SERVICE 156. ZENG, CHAOFAN, Chinese CHINESE CUSTOMER SERVICE 157. ZHANG, JU, Chinese CHINESE CUSTOMER SERVICE 158. ZHAO, DAQIANG, Chinese CHINESE CUSTOMER SERVICE 159. ZHONG, LIBO, Chinese CHINESE CUSTOMER SERVICE OKKDA ASIA TECHNOLOGY INC. Unit 5b 5/f Marvin Plaza 2153 C. Roces Ave. Pio Del Pilar Makati City MANDARIN SPEAKING ZHU, XIAOYAO 160. OUTBOUND MARKETING Chinese CONSULTANT RED DOT MARKETING AND BRANDING INC. Unit 1514 Burgundy Transpacific Place Taft Ave. 079, Bgy. 727 Malate Manila MA PHUC KHIEM FOREIGN LANGUAGE 161. Vietnamese CUSTOMER SERVICE SINO ROAD AND BRIDGE GROUP CO. LTD. Suite 701 Ma Natividad Bldg 470 T M Kalaw St. 072, Bgy 666 Ermita Manila 162. LI, YANLEI, Chinese SITE INSPECTOR SKY DRAGON GLOBAL TECHNOLOGIES CORP. # 103 Mezzanine Floor Edsa Mandaluyong City FENG, WEI CHINESE CUSTOMER SERVICE 163. Chinese REPRESENTATIVE 164. GAO, JIANFENG, Chinese CHINESE RESEARCH ANALYST 165. ZHOU, HONGXI, Chinese CHINESE RESEARCH ANALYST TELUS INTERNATIONAL PHILIPPINES, INC. Units 23/f, 31st/f - 37th/f Discovery Centre Adb Avenue, Ortigas Center San Antonio Pasig City BAH, ABDOURAHAMANE 166. FRENCH OPERATIONS CSR Guinean TOYOTA COROLLA SAPPORO PHILIPPINES HOLDINGS INC. 256 Batangas North St. Ayala Alabang Village Ayala Alabang Muntinlupa City HAGIWARA, HIROKI 167. TREASURER Japanese TRI7 SOLUTIONS, INC. Unit 9-a 9/f Marvin Plaza Bldg. 2153 Don Chino Roces Ave. Pio Del Pilar Makati City RUSSIAN LANGUAGE YASKEVICH, VIKTORYIA CUSTOMER SERVICE 168. Russian REPRESENTATIVE TRIVES TECHNOLOGY CORPORATION Tower 4 Bayport West Naia Garden Residence, Naia Road Tambo Parañaque City BAI, JIAXUE CHINESE CUSTOMER SERVICE 169. Chinese REPRESENTATIVE LI, QIUNAN CHINESE CUSTOMER SERVICE 170. Chinese REPRESENTATIVE WANG, YUBO CHINESE CUSTOMER SERVICE 171. Chinese REPRESENTATIVE WANG, YANG CHINESE CUSTOMER SERVICE 172. Chinese REPRESENTATIVE WISHLAND SOFTWARE TECHNOLOGY INC. 28/f Techzone Condo Corp. 213 Buendia Ave. San Antonio Makati City VU THI THUC ANH VIETNAMESE LANGUAGE 173. Vietnamese CUSTOMER SERVICE STAFF WORLD MEDICAL RELIEF-PHILIPPINE NATIONAL BUSINESS AND COORDINATION CENTER FOUNDATION, INC. 14-d 14/f Ocean Tower Condo. Roxas Blvd. 077, Bgy. 701 Malate Manila HUANG, QUNLONG 174. EXECUTIVE ASSISTANT Chinese ZTE PHILIPPINES INC. Unit 1201 & 1202 12th Floor Fort Legend Towers 3rd Ave. Corner 31st St. Bgc, Fort Bonifacio Taguig City 175. ZHAN, CHUNLIN, Chinese PROJECT MANAGER 139.

*Date Generated: Feb 10, 2021 In the ad material of Notice of Filing of Application for Alien Employment Permits published on February 09, 2021, the name of HTAI, YWIN under NEW ORIENTAL CLUB88 CORPORATION, should have been read as HTAI YWIN and not as published. In the ad material of Notice of Filing of Application for Alien Employment Permits published on February 09, 2021, the name of HTWAN, YIN under NEW ORIENTAL CLUB88 CORPORATION, should have been read as HTWAN YIN and not as published. In the ad material of Notice of Filing of Application for Alien Employment Permits published on February 09, 2021, the nationality of SHI, WEI under 24/7 BUSINESS PROCESSING INC., should have been read as TAIWANESE and not as published. In the ad material of Notice of Filing of Application for Alien Employment Permits published on February 09, 2021, the nationality of LIN, YI-HSUAN under VPC CORPORATE SOLUTIONS INCORPORATED, should have been read as TAIWANESE and not as published. Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at DOLE-NCR Regional Office located at DOLE-NCR Building, 967 Maligaya St., Malate Manila, within 30 days after this publication. Please inform DOLE-NCR if you have any information on criminal offense committed by the foreign nationals.

ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

TheBroa

Business

A6 Thursday, February 11, 2021 • www.businessmirror.com.ph

No love lost: Valentine’s Day-related enterprises By By Elijah Felice Rosales

Reporter

HE always stopped and smelled the flowers she sold for more than two decades. Last year, Remedios Cruzat just stopped. And the flowers white and pink baby’s breath, red roses and blue and purple aster disappeared from sight at a street in downtown Manila. “We had to close down our shop for six months last year starting March,” Cruzat, known by fellow vendors at the Dangwa flower market as Nanay Edios, told the BusinessMirror. She smoothens with gnarled fingers the hem of her blue duster dotted by yellow sunflower prints. “I had to plant palay for my family to survive during that time,” Cruzat continued. A native of Los Baños, Laguna, she has been selling flowers for 25 years along the street near the bus terminal operated by the Dangwa Transportation Co. Inc. She buys wholesale in her hometown. The fields of Los Baños, Laguna, used to grow the largest plantations of aster, daisy-looking plants with star-shaped flowerheads that burst in colors of white, blue or purple. In the second half of 2020, these were converted to rice farms. As Cruzat puts it: “Who plants flowers over grains in a time of hunger and economic crisis?” She touches her right ear as if checking if one of a pair of bronze crocodile-shaped earring is still t here and reminiscing about the profitable days before the borders of Metro Manila were blocked by soldiers.

Easy, not

RETAILERS like Cruzat said they understand the need for the government to shut them down at the height of the contagion in the summer of 2020. And even if authorities ordered them not to, Cruzat said she would stay in her hometown to avoid contracting the virus that was spreading fast in Metro Manila and key cities. However, life wasn’t that easy when she returned and stayed in Los Baños, 56 kilometers south of the capital. On the week she arrived in the first-class municipality, she was required by the local government to go on quarantine. Forced to take a 14-day observation, she was prohibited to leave house and make a living. “Los Baños was Covid-free back then. It was a difficult decision for me to make—to go home not knowing if I’m sick—as I fear that I may put my family at risk,” she said. “Last December, we were allowed to reopen. By God’s grace, here we are: surviving in a pandemic,” Cruzat said while arranging the flowers. “We try to sustain this livelihood in spite of the difficulties because it’s what we have known for decades now. And our hope is that people would flock here in February to buy flowers for their beloved,” she added. It’s Sunday in Dangwa, nearly half-past noon. So Cruzat sprays water on the aster.

Learning growing

ASTER (Symphyotrichum prenanthoides) plays the role of a supporting cast to the rose in a bouquet of flowers. Aster is a popular starting plant for individuals who look to

grow a garden in their backyard. Likewise, aster attracts bees and butterf lies that provide these pollinators with their steady bag of nectar. As such, farmers may find it easy to turn a few stems of aster into a plantation of this flower. It’s also the reason Los Baños exploits this associate of daisy and composite to their advantage, by expanding their aster fields and transporting the yield to Dangwa, one of the world’s top-ten flower markets. In 2019, aster-growers in Barangay Bayog in Los Baños had their dreams granted when experts from the National Crop Protection Center (NCPC) introduced them to the proper use of pesticide. For three years they have demanded that government teach them how. They wanted to learn the proper use of pesticide to combat armyworms, locally known as harabas. To growers like Cruzat, the allure of aster can either expand fields or bring them to rot. In the teach-in with NCPC experts, the farmers in Bayog estimated the infestation of harabas in their flowers costs them P15,000 per stack. Once an aster is attacked, it is frustrating as much as it is hopeless to stop the worms from ruining the others. For smallscale growers like those in Bayog, this makes farm work all the more exhausting.

In the rose’s shadow

TR ADITIONALLY, asters play the role of a sidekick in a bouquet where the lead characters are roses. In Cruzat’s own words: asters, like baby’s breath, are fillers. The aster’s stem is clothed green with shreds of leaves attached to its sides. The petals resemble elongated grains of usually white, purple, pink or blue; its stamen in the center glow with a dandelion blush. Cruzat explains this glitter of colors in the aster gives a bouquet just the right amount of pizzazz to make the redness of a rose glow. “That’s why the aster is most sought during Valentines because it serves as filler to the rose, or to any bouquet even. Its sophistication makes it popular in the Valentine’s season,” Cruzat said, as she holds an aster and points to its parts like a science teacher explaining the body of a flower to her elementary students. However, what is a supporting cast without the lead role. Like all the retailers in Dangwa, Cruzat holds her breath on what Valentine’s Day this year has in store for them. She said all of them expect a decline in sales when compared to previous Valentines, as they assume couples will choose to celebrate the day at home.

Jolted from routine

THE Dangwa flower market shelters dozens of vendors who compete for customers as if the buyer’s the last on earth. The lane is open 24 hours a day, seven days a week, except when the government shut down the whole of Luzon for 80

days last year. Now that it has reopened, Dangwa, like any commercial area in the new normal, is suffering the effects of induced agoraphobia. Cruzat shares the desperation of her fellow flower retailers to sell all of their stock before the petals begin to decay and fall off. In this particular time of the year, they pin their hopes on customers who might buy flowers to give to their special person. Before the lockdown, Cruzat earned P5,000 in three days. Once her stack of aster is sold off, she would take a train to Lawton, ride a bus to Calamba and head home to her family in Los Baños. The next day, she would walk to the farm where she works for to pick up asters that she would bring on her trip to Manila. When it’s her turn to sell the following week, she would travel back to Dangwa with her harvest. It was like this every week for Cruzat until the lockdown disrupted her routine.

Asters vs essentials

TODAY, it takes her nearly a week to sell all of the aster flowers she brings to Dangwa. When she returns to Los Baños, she’s lucky to get at least a few hours to rest. She said all her time is dedicated to picking up the white flora, selecting which ones make it, arranging them in piles and then taking them to Dangwa. “Dangwa’s changed now to the ‘new normal.” Yes, it’s open 24 hours like it used to be, but there are days back then when we close before 8 in the evening because all of our flowers have been sold; all of them,” Cruzat said. “It’s new normal now for us here, and that means less and less customers each day.” As of last week of January, Cruzat chuckled she could count on her fingers the number of potential buyers who made their way to Dangwa to survey the cost of flowers. It’s bad news, she added, because she should, by now, be getting reservations for asters. “There are some teenage men who come by to canvass the price of rose, of aster, of a bouquet. However, we know not all of them would go on to purchase what they surveyed. Also, they may just opt to spend their money on essentials instead of buying flowers this Valentine’s Day,” she said. T here are t hree occasions throughout the year when Dangwa can compete with other consumer markets: Valentine’s Day; Mother’s Day; and, Day of the Dead. With a stay-at-home directive by the government and the entry of a new strain of the virus, Cruzat mused that the pandemic may have just killed the romantic in many people.

Heeding nostalgia

ANNE Claire Simpao bought herself a Fujifilm Instax in the heat of the lockdown measures last year. She used the camera to snap and print photos of her favorite moments in life. Truth is, she admitted, she’s just trying to reminisce what life was before the lockdown measures ruined plans and dreams. “We were nostalgic at the time because we missed social interactions and gatherings,” Simpao sighed. “As we styled our photo albums and shared them online, our friends and relatives were greatly interested in doing the same.” And that birthed a concept that Simpao founded into a business: Claires and L Creatives. What Claires and L Creatives does is not entirely new; like photo studios back in the day, it prints out images in instant films. However, Simpao wants the experience to be personal and nostalgic for people who miss their loved ones

In this February 14, 2020 file photo, a man peddles flowers at Dangwa Market in Manila. NONIE REYES NONIE REYES

aderLook

sMirror

Editor: Dennis D. Estopace • Thursday, February 11, 2021

ponder profit losses, potentials amid pandemic in these trying times. The business offers photo printing services and creative add-ons for table and room decorations of sorts, including wooden clips, fairy lights, easel and frames. Simpao said buyers can take the bundles they make to save up on cost, as their products and services can be availed of anywhere from P35 to P900.

Lover’s boon

AS Valentine’s Day nears, Simpao expects lovers to look for ways to celebrate the day in a safe and yet romantic manner. She argued couples may find it difficult to do the usual traditions of the love day with mobility restrictions in place. Cinemas in Metro Manila have yet to reopen, and not all hotels can be booked for leisure stays. “Celebrating Valentines, similar to other holidays and special occasions that Covid-19 affected, has indeed changed. It is saddening for many since they can’t go out, give out their gifts face to face,” Simpao said, as she shared the sentiment of most of her customers. As most transactions moved online, Claire and L Creatives took advantage of this transition to expand their reach. For Valentines, the business offers to personalize boxes that contain printed films, flowers, chocolates, love letters, fairy lights and even jewelry. Putting safety as a priority, the box can be delivered door to door to the house of the special someone. “Basically, we put together the old traditions [of Valentines] in a box. And yes, giving gifts is also a love language,” Simpao said. Simpao knows how much individuals miss the feeling of romance in the age of social distancing. She took up behavioral sciences in her undergraduate at the De La Salle University, and is now finisher her master’s in the same school. Separated from society for months, people tend to hold on to their memories with their special someone just to get by, she argued.

Avoiding contact

BM GRAPHIC: JOB RUZGAL

IF this was the world before the pandemic, the asters prepared by Cruzat would sell in just about a day during Valentines season. She would travel home to Los Baños with P5,000 rolled up in her pockets the next day she got to Manila; after all, Dangwa is the country’s flower capital the same way Taytay is to garments and La Loma is to lechon. However, she knows the prestige Dangwa holds as the flower capital would fail to save some of her colleagues from shutting down for good. There’s a lot to deal with, she said, from the travel restriction that’s making it costly to transport goods, to the health protocols that discourage buyers from going out. And then, there’s the competition coming from online. If the Department of Trade a nd Indust r y (DT I ) is to be asked, the future of retail can be found in enterprises such as Claire and L Creatives. As consumers fear for their health and, in turn, avoid physical contact, they will turn to e-commerce to do their transactions. In January the DTI launched the Philippine E-Commerce Roadmap 2022 that set the near-term goals for e-commerce activities in the country. Under it, the contribution of digital transactions to the economy is targeted to increase to P1.2 trillion by 2022, from P599 billion in 2020. As such, the ecommerce industry is seen to take up 5.5 percent of GDP by then.

Business roadmap

DURING the launch, Trade Secretary Ramon M. Lopez reported there are now 93,318 online sellers registered with the DTI, and bulk of these retailers signed up

in the course of the health crisis. The road map projects there would be 1 million firms doing business online by next year. The DTI is banking on the shift to digital to accomplish all these objectives. “For the month of January 2021, online businesses registration has already hit 93,318,” Lopez disclosed. “This is a clear indication of Filipino resilience as many of our countrymen adapted to the challenging times.” Lopez vowed the government will pour in everything the e-commerce industry needs to improve its operations in the Philippines. Under the road map, authorities will accelerate efforts to boost Internet infrastructure to encourage sellers and buyers alike to transact in virtual platforms. The DTI will also streamline the registration and renewal procedures for licenses of online shops. “As our economy recovers from the pandemic, we can harness the fast-growing e-commerce in the country to boost our economic growth. We have already seen how e-commerce has come to our rescue—and was ready to fill the void left by brick and mortar businesses unable to serve our people—because of the lockdowns,” Lopez said.

Southeast Asia

THE DTI, for its part, can no longer afford to deny the network covered by e-commerce players, as they exploited the pandemic to reach new customers who used to patronize physical stores. Further, the Philippines is trailing its Southeast Asian (SEA) neighbors in terms of Internet retail growth, and is, therefore, compelled to take actions that would promote a shift to the digital. Based on the “e-Conomy SEA Report 2020,” the Philippines was seen to enlarge its e-commerce market by 6 percent to $7.5 billion last year, from $7.1 billion in 2019. The country is also poised to reach its forecast of breaching $28 billion by 2025. However, when pitted against Southeast Asian rivals Vietnam and Indonesia, e-commerce here is growing too little, too slow. The report indicated Vietnam’s Internet economy was estimated to improve by 16 percent to $14 billion last year, from $12 billion in 2019. On the other hand, Indonesia was penciled to increase the value of its online market by 11 percent to $44 billion, from $40 billion. Further, new demographics showed the Philippines is one of the three SEA nations that witnessed a rise in digital consumers from the rural areas. Most of new e-commerce users in Indonesia, Malaysia and the Philippines live outside of cities. Broken down, 54 percent of the new e-commerce users here were traced in the provinces.

Marketing plans

THE Philippines also registered the most number of digital consumers who plan on using online platforms even in the pandemic aftermath, at 95 percent. In turn, this painted a rosy prospect for sellers in e-commerce sites: nine in 10 new e-commerce users in the region said buying online is the standard way to purchase things in the new normal, according to the report. The average time spent online by Southeast Asians increased to 4.7 hours during the lockdown, from 3.7 hours prior, and steadied at 4.2 hours when the mobility restrictions were removed, in a proof the shift to digital is real. Simpao sees the future in ecommerce as well and recognizes competition would soon tighten. Looking beyond Valentines and the holidays, she plans to expand the offerings of her business in accordance with the sustainability plan she herself crafted. “We have a sustainability plan

that helps us to introduce new products every certain time of the year, and researches on how to effectively market our products,” Simpao disclosed. In Dangwa, Cruzat prays that couples muster the courage to go out on Valentine’s Day to buy flowers and chocolates and dine in a restaurant. She pins her hopes on tradition beating the pandemic; that sweets, roses and dinner dates stay as Valentines staple; and that Dangwa keeps its energy during Februaries. She knows, though, that things may never be the same.

Applying protocols

LEON John Reyes and Kimberly Sablan had planned on going out on February 14 to toast their sixth Valentines together as a couple. They had wanted to celebrate the love day like they used to: sharing plates of their favorite dishes in a restaurant they frequent. However, Reyes and Sablan have called off the idea of dining out on fears that partners like them would flock to malls on Valentine’s Day. Reyes said they now look to just staying at home and cooking their own food. For the Ateneo de Manila University law student, preparing their own dish not only saves them cash, but also gives them time to bond in the kitchen. “We thought about going out this February 14, but we decided not to push through with it. We realized that even with proper application of protocols and restriction, there is still a huge risk of contracting the virus,” Reyes told the BusinessMirror. In their six years together, Reyes and Sablan celebrated Valentine’s Day without thinking twice about spending. Reyes allocates at least P5,000 for the February occasion to treat his girlfriend on an evening of food, drinks and movie. In some of those years, he said they dated either prior or after February 14 to avoid the usual crowds in public spaces.

Ultimate wish

ASIDE from Valentine’s Day, Reyes and Sablan have celebrated holidays and birthdays at home since the pandemic reached the Philippines and the government enforced lockdowns. In spite of this, the couple hopes the contagion ends soon in hopes of a return to pre-pandemic life. “I think that once the pandemic ends, everything will go back to how it was before,” Reyes said. “Going out to eat is much more practical compared to preparing everything at home, as there is much less planning and preparation when going out.” Cruzat wants partners like Reyes and Sablan to stay strong for many years. The couple, who for the meantime lives in their hometown Cabanatuan, Nueva Ecija, itches to return to what life was before the health crisis. The hope of Cruzat is that they hold on to their traditions until the vaccines arrive and the pandemic ceases. “Our wish here in Dangwa is that people appreciate flowers the way they do before all of this,” Cruzat said. “Our wish is, once this is over, they see flowers as an offering to the dead, as a gift to a special someone and as a tribute to their mothers; just like before the pandemic.” In the course of the interview, Cruzat asks to be excused as she attends to a man in black polo and denim jeans asking about the prices of rose and aster. Upon learning a kilo of aster would cost him P250, he smiles at Cruzat and walks to the next store. Cruzat apologizes for the interruption: it’s her first potential buyer of the day. At least the man stopped to smell the flowers or a possible bargain.

Thursday, February 11, 2021

The World BusinessMirror

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

Trump’s trial moves forward after vote on constitutionality O

UK vaccine drive shows Pfizer shot gives two-thirds protection

he Senate affirmed the constitutional basis of former President Donald Trump’s second impeachment trial, clearing the way for arguments to begin on whether he incited an insurrection by inflaming the mob that stormed the US Capitol last month. After four hours of arguments from House impeachment managers and Trump’s defense team, the Senate voted 56-44 to proceed with the trial, rejecting the former president’s contention that it is unconstitutional to try an official who is no longer in office. Six Republicans joined with Democrats in voting to continue to the trial: Lisa Murkowski of Alaska, Bill Cassidy of Louisiana, Susan Collins of Maine, Mitt Romney of Utah, Ben Sasse of Nebraska and Pat Toomey of Pennsylvania. Still, that is far short of the 67 votes that would be required for a conviction. Opening arguments are set to begin at noon on Wednesday. Trump was impeached by the House on a single article accusing him of incitement of insurrection for stoking the anger of his supporters, leading to the mob storming the US Capitol on Jan. 6 as Congress was certifying the Electoral College count that delivered the presidency to Joe Biden. Trump’s lawyers had argued that his impeachment by the House was a politically motivated attempt to remove him as a challenger to Democratic power rather than a constitutional remedy for any wrongdoing. “We are really here because the majority of the House of Representatives do not want to face Donald Trump as a political rival,” attorney Bruce Castor said as the former president’s defense team argued that the Senate’s impeachment trial is unconstitutional.

‘January exception’

Another Trump lawyer, David Schoen, said that Democrats have an “insatiable lust for impeachment.” During his presentation, Schoen played a video showing a procession of Democrats in

Congress demanding Trump’s impeachment starting as early as 2017. Representative Jamie Raskin of Maryland, the lead House impeachment manager, argued that there is no “January exception” to holding a president accountable for his actions just before leaving office. In t heir presentat ion, t he House impeachment managers moved quickly to the core of their argument through a vivid and dramatic video of the former president’s supporters rampaging through the US Capitol and attacking police officers. The edited video juxtaposed Trump’s address to the crowd before the attack near the White House in which he urged supporters to march to the Capitol with scenes of the mob overwhelming barriers and lawmakers evacuating the House chamber. The screams and yells echoed through the Senate as the video played on large monitors. “If you don’t fight like hell you’re not going to have a country any more,” Trump said to the crowd in the recording. As the mob surged to the Capitol, shouts of “Traitor Pence,” a reference to then-Vice President Mike Pence who was presiding over the electoral vote count, and “No Trump, no peace,” could be heard. Trump was impeached “ for doing that,” Raskin said as the video ended. “If that’s not an impeachable offense, then there’s no such thing.” Castor and Schoen asserted that the Senate has no jurisdiction to try citizen Trump, saying that the Constitution offers only removal from office and disqualification from holding future office as the penalties for impeachment. C a s tor d e fe nd e d Tr u mp’s

Billboard trucks parked on the National Mall near the US Capitol during the impeachment trial of former President Donald Trump in Washington on February 9. AP/Jose Luis Magana

speech to a crowd of supporters before the attack on the Capitol as protected by the First Amendment. I f Tr u mp were conv ic ted , the Philadelphia attorney said, pa r t isa n impeac hments over political speech could become commonplace.

‘Missed opportunity’

Many GOP senators criticized the former president’s defense team. Murkowski said that the House impeachment managers “presented a pretty good legal analysis.” But she faulted Trump’s lawyers, particularly Castor. “I couldn’t figure out where he was going,” she said. “I don’t think he helped give us a better understanding where he was coming from on the constitutionality of this. And I felt that Mr. Schoen did a better job. But I think they had a missed opportunity with their first attorney there.” Cassidy said the presentations mattered in his vote to proceed with the trial. “Anyone who listened to those arguments would recognize that the House managers were focused,” he said. “Anyone who listened to President Trump’s legal team saw they were unfocused, they attempted to avoid the issue, and they talked about everything but the issue at hand.” Republican John Cornyn of Texas, who voted to dismiss the case, said Castor “just rambled on and on and on and didn’t really address the constitutional argument.” “I thought we had a good day,” Castor responded.

Constitutional question

The trial got underway with senators taking their seats at mahogany desks where they were admonished to remain silent as both sides present their cases. Democratic Senator Patrick Leahy, the senior member of the majority party, gaveled the proceeding to order at 1 p.m, taking the place at the chamber’s marble dais that Chief Justice John Roberts occupied during Trump’s first impeachment trial a year ago. Roberts isn’t required to preside because Trump is no longer in office. R e publ ic a n se n ators h ave adv a nced t he con st it ut ion a l question as the main justification to vote for Trump’s acquittal, though most of them have avoided directly defending his actions leading up to and on Januar y 6 when his supporters stormed the US Capitol. It would require at least 17 Republicans to vote to convict Trump at the trial’s conclusion to reach the needed two-thirds majority, and that appears to be unlikely. Senator Roy Blunt of Missouri, a member of Minority Leader Mitch McConnell ’s leadership team, said he will be voting to acquit Trump at the end of the trial because he views the proceedings as unconstitutional. “I’m going to vote like I voted the other day through the trial,” he told reporters. “I don’t think it’s constitutional. I don’t think we should be doing it.” Blunt said he believes the trial will end on Saturday or Sunday. Bloomberg News

WHO team: Coronavirus unlikely to have leaked from China lab

UHAN, China—The coronavirus most likely first appeared in humans after jumping from an animal, a team of international and Chinese scientists looking for the origins of Covid-19 said Tuesday, saying an alternate theory that the virus leaked from a Chinese lab was unlikely. A closely watched visit by World Health Organization experts to Wuhan—the Chinese city where the first coronavirus cases were discovered—did not dramatically change the current understanding of the early days of the pandemic, said Peter Ben Embarek, the leader of the WHO mission. But it did “add details to that story,” he said at a news conference as the group wrapped up a four-week visit to the city. And it allowed the joint Chinese-WHO team to further explore the lab leak theory—which former US President Donald Trump and officials from his administration had put forward without evidence—and decide it was unlikely. The Wuhan Institute of Virology is home to many different virus samples, leading to allegations that it may have been the source of the original outbreak, whether on purpose or accidentally. Embarek, a WHO food safety and animal disease expert, said experts now consider the possibility of such a leak so improbable that

it will not be suggested as an avenue of future study. But another team member, Danish scientist Thea Koelsen Fischer, told reporters that team members could not rule out the possibility of further investigation and new leads. China had already strongly rejected the possibility of a leak and has promoted other theories. The Chinese and foreign experts considered several ideas for how the disease first ended up in humans, leading to a pandemic that has now killed more than 2.3 million people worldwide. Embarek said the initial findings suggest the most likely pathway the virus followed was from a bat to another animal and then to humans, adding that would require further research. “The findings suggest that the laboratory incidents hypothesis is extremely unlikely to explain the introduction of the virus to the human population,” he said. Asked why, Embarek said accidental releases are extremely rare and that the team’s review of the Wuhan institute’s lab operations indicated it would be hard for anything to escape from it. He also noted that there were no reports of this virus in any lab anywhere before the pandemic. Liang Wannian, the head of the Chinese side, also emphasized that, saying there was no sample of it in the Wuhan institute. The mission was intended to be an initial step in

the process of understanding the origins of the virus, which scientists have posited may have passed to humans through a wild animal, such as a pangolin or bamboo rat. Transmission directly from bats to humans or through the trade in frozen food products are also possibilities, Embarek said. The WHO team’s visit is politically sensitive for Beijing, which is concerned about being blamed for alleged missteps in its early response to the outbreak. An AP investigation has found that the Chinese government put limits on research into the outbreak and ordered scientists not to speak to reporters. Still, one member of the WHO team, Britishborn zoologist Peter Daszak, told The Associated Press last week that they enjoyed a greater level of openness than they had anticipated, and that they were granted full access to all sites and personnel they requested. Koelsen Fischer said she did not get to see the raw data and had to rely on an analysis of the data that was presented to her. But she said that would be true in most countries. US State Department spokesman Ned Price said the US looked forward to seeing the report and the underlying data from the WHO investigation. The team—which includes experts from 10 countries who arrived on January 14—visited the Huanan Seafood Market, the site of an early cluster of cases in late 2019.

Marion Koopmans, a Dutch virologist on the team, said that some animals at the market were susceptible or suspected to be susceptible to the virus, including rabbits and bamboo rats. And some could be traced to farms or traders in regions that are home to the bats that carry the closest related virus to the one that causes Covid-19. She said the next step would be to look more closely at farms. Liang, the head of the Chinese team, said the virus also appeared to have been spreading in parts of the city other than the market, so it remains possible that the virus originated elsewhere. The team found no evidence that the disease was spreading widely any earlier than the initial outbreak in the second half of December 2019. “We haven’t been able to fully do the research, but there is no indication there were clusters before what we saw happen in the later part of December in Wuhan,” Liang said. The visit by the WHO team took months to negotiate. China only agreed to it amid international pressure at the WHO’s World Health Assembly meeting last May, and Beijing has continued to resist calls for a strictly independent investigation. While China has weathered some localized resurgences of infection since getting the outbreak under control last year, life in Wuhan itself has largely returned to normal. AP

ne dose of the PfizerBioNTech vaccine offers two-thirds protection against coronavirus, data seen by the UK government suggests. Early findings from the UK’s vaccination program, due to be released within days, show that the first dose reduced the symptomatic infection risk among patients by 65 percent in younger adults and 64 percent in over80s, a person familiar with the matter said. The data, first reported by T he Su n newspaper, showed that two doses of the Pfizer vaccine saw protection rise to between 79 percent and 84 percent, depending on age. The AstraZeneca vaccine offers similar protection, the newspaper said. While efficacy results are lower than those found in Pfizer’s clinical trials, Boris Johnson’s government is likely to hail the UK’s first real-world data as a significant boost to its efforts to immunize the population. A successful mass vaccine rollout is key to the government’s hopes of reopening the economy after months of lockdown. More than 12.6 million people in the UK have so far received their first doses of either the Pfizer shot or the Oxford-AstraZeneca vaccine, according to latest data published Tuesday. That includes more than 90 percent of the over-80s. Joh n son h a s set a t a rget to immu ni ze a l most 15 m i ll ion people by Febr u a r y 15, foc using on t he most v u l ner able g roups a nd t heir ca rers. A f ter t hat, h is tea m w i l l consider when a nd how to beg in l if t ing t he UK ’s t hird nat iona l loc kdow n, wh ic h has been in

pl ace for t he past mont h a nd has compounded the economic d a mage a l ready done by t he cou nt r y ’s deepest recession in more t ha n 30 0 yea rs. From March 8, schools could begin to reopen, followed by the easing of other curbs. But while the UK’s vaccine rollout is one of the most advanced in the world, the one big doubt is whether the shots will remain effective against new strains of coronavirus. This week Johnson led effor t s to rea ssu re t he publ ic t hat vaccines w i l l sti l l work to prevent the most severe illness and death from the South Africa variant. Some scientists are concerned that the strain is far more widespread in the UK and could derail the plan to lift restrictions. Data from the real world rollout of the UK’s two vaccines will be critical in determining how fast the government can begin to ease the lockdown. Pau l Hu nter, professor of med ic ine at t he Universit y of East A ngl i a, sa id t he ea rly re sults were “quite amazing” and he bel ieved g radu a l l if t ing of t he c u rbs wou ld be possible, s t a r t i n g w it h s c ho o l s f r o m ea rly Ma rc h. “If these numbers are borne out, then they are ver y reassuring,” Hunter told The Sun. “If they are achieving 65 percent protection after three weeks w ith both jabs, then I think that’s really good.” T he gover nment h a s de ployed more surge testing of the population in parts of Lambeth, south London, in an attempt to trace and contain the new strain found there. Bloomberg News

Top E.U. diplomat to propose new sanctions against Russia

RUSSELS—European Union foreign policy chief Josep Borrell said Tuesday that the 27-nation bloc must take a firm stance in its future relations with Russia including through the use of new sanctions, in the wake of the jailing of opposition leader Alexei Navalny. Borrell said that he will submit proposals for such action when he chairs the next meeting of the bloc’s foreign ministers on February 22. EU countries are divided in their approach to Russia, and no member state has yet made a demand for such measures. “It will be for the member states to decide the next step, but yes, this could include sanctions. And I will put forward concrete proposals, using the right of initiative the high representative has,” Borrell told EU lawmakers. “Containment effor ts should include combining robust actions against disinformation, c yberattacks and other possible hybrid challenges,” he said. Navalny, Russian President Vladimir Putin’s most high-profile political foe, was arrested in January when he returned to Moscow after spending months in Germany recovering from a poisoning in Russia with what experts say was the Soviet-era nerve agent Novichok. The EU has imposed sanctions on those responsible for his poisoning, but Navalny has urged the Europeans to slap travel bans and asset freezes on several Russian oligarchs close to Putin. Borrell didn’t elaborate on the details of his proposal. Germany, Poland and Sweden on Monday each declared a Russian diplomat in their country “persona non grata,” retaliating in kind to last week’s decision by Moscow to expel diplomats from the three EU countries, accusing them of attending a rally in support of Navalny. Moscow’s decision on Friday was as an extra slap in the face for the Europeans because it came as Borrell—the EU’s top diplomat—was meeting with Russian Foreign Minister Sergey Lavrov. Borrell said he learned about the expulsions on social media. Several lawmakers on Tuesday criticized the former Spanish foreign minister for the timing of his visit, and for not doing enough to rebut Lavrov at a media conference that some described

as an “ambush.” “The behavior of Foreign Minister L a v r o v w a s u n f r i e n d l y, u n c o o p e r a t i v e and unacceptable,” German conser vative parliamentarian Michael Gahler said. “But was it not to be expected that Lavrov would produce an attack on the EU?” The trip wasn’t just about Navalny. Russia is a major trading partner and the EU depends on the country for natural gas. It’s also a key player in talks on curbing Iran’s nuclear ambitions and has a central role in conflicts that impact on European interests, like those in Syria and Ukraine. But EU countries are deeply divided over their approach to Moscow. European heavyweight Germany has strong economic interests there, notably the NordStream 2 undersea pipeline project, and a number of countries are reluctant to wade into any sanctions battle over Navalny. Borrell said one aim of his visit was “to test if the Russian authorities are interested in a serious attempt to reverse the deterioration of our relations.” But, he said, “the answer has been clear. No, they are not. They are not if we continue to put the political situation and human rights issues in the package.” “Russia has been trying to divide us. They seek to divide us,” he warned. “This seemed to be a clear objective during my visit. We should not fall into these traps.” EU leaders plan to debate in what direction to take Europe’s troubled ties with Russia during a March 25-26 summit. The chairman of that meeting, European Council President Charles Michel, agreed Tuesday that Moscow does not appear to want to improve relations. “The aggressive Russian stance during the visit of the high representative shows that Russia is not interested in dialogue even in those areas where cooperation could be of mutual—or global— interest,” Michel’s spokesman, Barend Leyts, said Tuesday. “The EU will not be intimidated.” Michel intends to travel to Ukraine and Georgia next month to show EU support for the territorial integrity of the two former Soviet republics, which had parts of their territories either annexed by Russia or seized by pro-Russian separatists. AP

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Cambodia begins vaccination campaign against Covid-19

HNOM PENH, Cambodia—Three sons of Cambodian leader Hun Sen were inoculated against Covid-19 on Wednesday as the country began distributing vaccines donated from its closest ally, China. Hun Manet, the head of the army and Hun Sen’s eldest son, urged all Cambodians to be vaccinated and thanked China for the donation. “I trust this vaccine and that is why I have been vaccinated with it,” Hun Manet said. China is donating 1 million doses of the Chinese-made Sinopharm vaccine, enough for half a million people, and the first shipment of 600,000 doses arrived in Cambodia on Sunday. Hun Sen’s two sons-in-law, government ministers and other officials were vaccinated at a state-run hospital. Hun Sen himself backtracked on receiving the vaccine because he is 68. In China, the Sinopharm vaccine was approved only for people ages 18-59 because that is the population studied in clinical trials. While there is not yet data on its effectiveness for other age groups, other countries have discretion to use it in older people.

China is Cambodia’s biggest investor and its closest political partner, while Hun Sen is shunned by some Western nations who consider his government to be repressive. Cambodia in turn backs Beijing’s geopolitical positions in international forums on issues such as China’s territorial claims in the South China Sea. China also announced it would give Cambodia 1 million doses of the vaccine produced by Beijing Institute of Biological Products Co., but a date for delivering the rest of the promised amount has not yet been set. Cambodia has recorded 478 confirmed cases of infection with the coronavirus, with no deaths. Hun Sen said earlier this month that Cambodia seeks to reserve 20 million vaccine doses to inoculate 10 million people, roughly two-thirds of its total population. In addition to the Chinese donation, Australia has announced a grant of $28 million to purchase 3 million doses, and it is set to get 7 million doses through the World Health Organization’s COVAX initiative. AP

South Korea unemployment rate at 21-year high as million jobs lost

outh Korea’s jobless rate surged to its highest in more than two decades, raising concern that an export-driven recovery could be masking a harsher scarring of the economy. The unemployment rate jumped to 5.4 percent in January from a revised 4.5 percent the previous month to hit its highest level since the aftermath of the Asian financial crisis. The result outstripped all survey forecasts as the economy shed almost a million jobs from a year ago for the worst losses since 1998. The sharp deterioration in the labor market contrasts with the view that Korea’s economy has been one of the best performers in the developed world last year and suggests the government may need to take more action to support jobs. “The huge hit to jobs is going to weigh on the pace of economic recovery,” said Sung Tae-yoon, an economics professor at Seoul’s Yonsei University. “People looking for jobs will also decrease as the economy worsens, which may technically bring down the jobless rate, but economic difficulties will continue.” Korea’s job market took a sharp turn for the worse in December when the government tightened its social distancing rules as daily infection cases rose to more than 1,000. In January, the sector combining retailers, wholesalers, restaurants and hotels was hit hardest with 585,000 job losses from a year earlier. More than 340,000 positions were shed in a sector that includes public service as the government’s job-creation measures expired before a new start. Manufacturing lost 46,000 jobs. “Given the hit to the economy from the latest virus wave and tighter curbs, we continue to see potential for additional extra budgets to secure the recovery,” said Bloomberg economist Justin Jimenez. While resurgent export strength has put the economy on track to reach per-capita income levels

of Group of Seven nations, the unemployment jump shows the lagging impact of the pandemic is biting deeper into employment than expected as a K-shaped recovery becomes clearer. Policy makers will likely be hoping that the situation will ease as further government support feeds in to the economy and virus restrictions are loosened further. The government takes the situation “seriously” and will use all available options to deal with it, Finance Minister Hong Nam-ki said in a statement, blaming the job losses partly on expired fiscal support for jobs creation at the turn of the year, and a high year-earlier base. Still, the latest figures may indicate that not enough fiscal support is coming through, or at least, not quickly enough, potentially requiring a tweaking of the timing of existing planned measures, or an outright expansion, wrote Rob Carnell, chief economist for Asia Pacific at ING. President Moon Jae-in is also calling for incentives for companies that would share some of their profits during the pandemic with ones that suffered, a move that could indirectly support employment. Some lawmakers are putting pressure on the Bank of Korea to adopt a jobs mandate as part of its goals. The job market outlook based on Korea’s virus caseloads looks slightly better, as the number of daily infections eased to a few hundred from more than 1,000 in December. The government is gradually relaxing its social distancing rules, allowing longer opening hours for some retail businesses such as coffee shops and gyms outside Seoul. More fiscal stimulus under consideration may backstop workers and companies that have suffered from forced business restrictions. The government is in the process of handing out its third round of cash support as part of its pandemic relief measures, and the possibility of a fourth round has been floated. Bloomberg News

Putin’s hopes for economic revival threatened by shortage of workers

ladimir Putin’s hopes of getting his economy growing again quickly are likely to be dashed by Russia’s shrinking work force. Employers, especially in construction, are struggling to find enough people to fill jobs because coronavirus restrictions have halved the number of immigrants. Companies ranging from gold miners to builders say they’ve been forced to push up wages to attract locals. Almost half of construction companies surveyed by the national builders union said they have increased pay. MIC Group, a Moscow-based constructor, has hiked wages by as much as 15 percent on average and that’s helped bring in more staff, said Andrey Ryabinskiy, head of the board of directors. “It was hard enough to find qualified workers before the pandemic, but now we’re feeling it much more,” he said. The Kremlin is relying on a rapid recovery from the pandemic to quell growing discontent over falling incomes and rising consumer prices. Despite the success of its Sputnik vaccine, Russia is behind on its ambition to inoculate 60 percent of the population by the middle of the year. Russia has already lifted most of its coronavirus restrictions and a recent rally in oil

prices should help an economic rebound kick in as soon as the second quarter, but the pace of growth could be limited without an ample supply of workers. A shrinking labor force could shave about 25 basis points off potential growth every year for the next decade, according to Bloomberg Economics. Russia usually relies on an army of laborers from other parts of the former Soviet Union to help meet the increased demand when the economy picks up, but most borders have been closed for almost a year. Migrant workers usually make up about 7 percent of Russia’s workforce and contribute to about 6 percent of gross domestic product, according to Evgeny Vinokurov, chief economist at the Eurasian Development Bank. “Construction sites are still noticing the shortage of workers, despite the fact that they increased wages,” said Anton Glushkov, president of the Nostroi, the national builders union. “This will ultimately result in an increased cost of construction.” Russia’s already shrinking workforce has also taken a hit from the third-highest Covid-19 death toll in the world last year. The population shrank by almost 700,000 people in 2020, the biggest annual slump in 15 years. Bloomberg News

Thursday, February 11, 2021

Myanmar junta cracks down on crowds defying protest ban

ANGON, Myanmar—Police cracked down on demonstrators opposing Myanmar’s military coup, firing warning shots and shooting water cannons to disperse crowds that took to the streets again on Tuesday in defiance of new protest bans. Reports of many injured demonstrators drew strong concern from the UN’s office in Myanmar. “According to reports from Nay Pyi Taw, Mandalay and other cities, numerous demonstrators have been injured, some of them seriously, by security forces in connection with the current protests across the country,” the UN said. “The use of disproportionate force against demonstrators is unacceptable,” said Ola Almgren, the UN resident coordinator in Myanmar. Water cannons were used in Mandalay, Myanmar’s secondbiggest city, where witnesses said at least two warning shots were fired in early attempts to break up the crowd. Gunfire could be heard on videos from the city, some of which showed riot police flailing wildly with their batons at people trying to flee. Reports on social media said police arrested more than two-dozen people there. Police also used water cannons in the capital, Natpyitaw, for a second day and fired shots into the air. Police were reported to have also shot rubber bullets at the crowd in Naypyitaw, wounding several people. Photos on social media showed an alleged shooter—an officer with a shortbarreled gun—and several injured people. Protesters posted photos online of bullet casings they said they found at the scene. Unconfirmed social media reports circulated of shootings with live rounds and deaths among the protesters, with the potential of sparking violent retaliation against the authorities—an outcome proponents of the country’s civ i l d isobedience movement have warned against. The AP was unable to immediately confirm the reports. The weekly magazine 7Day News reported on Twitter that a 19-year-old woman was shot by police in Naypyidaw and was undergoing emergency surgery at the city’s main hospital. It cited Min Thu, the local chairman of the

National League for Democracy party of ousted national leader Aung San Suu Kyi. Security forces on Tuesday night raided the NLD’s national office in Yangon, following raids of regional party offices last week that the party called illegal. NLD spokesman Kyi Toe wrote on his Facebook page that army personnel took documents and computer hardware. The protesters are demanding that power be restored to the deposed civilian government and are seeking freedom for Suu Kyi and other governing party members detained since the military took over and blocked the new session of Parliament from convening on February 1. The growing defiance is striking in a country where past demonstrations have been met with deadly force and are a reminder of previous movements in the Southeast Asian country’s long and bloody struggle for democracy. The military used deadly force to quash a massive 1988 uprising against military dictatorship and a 2007 revolt led by Buddhist monks. The protests were banned by decrees issued Monday night for some areas of Yangon and Mandalay that made illegal rallies and gatherings of more than five people, along with motorized processions, while also imposing an 8 p.m. to 4 a.m. curfew. It was not clear if restrictions were imposed for other areas. Violators could be punished by up to six months in prison or a fine. Demonstrations were also held in other cities Tuesday, including Bago—where city elders negotiated with police to avoid a violent confrontation—and Dawei, and in northern Shan state. In Mag we in central Myanmar, where water cannons were also used, unconfirmed reports on social media said several police officers had crossed over to join the protesters’ ranks. Police in Nay pyitaw and Pathein,

Police use water cannon to disperse demonstrators during a protest in Mandalay, Myanmar on February 9. Police were cracking down on the demonstrators against Myanmar’s military takeover who took to the streets in defiance of new protest bans. AP

west of Yangon, were also said to have switched sides. The AP was unable to immediately confirm the reports. Crowds also gathered in Yangon, the country’s biggest city where thousands of people have been demonstrating since Saturday, despite a heightened security presence. No violence was reported. Police, not soldiers, appeared to have been deployed to stop the demonstrations, a small indicator of restraint by the military government. The army has a record of brutality in crushing past revolts as well as in fighting ethnic minorities in border areas seeking self-determination. It also has been accused of carrying out genocide in its 2017 counterinsurgency campaign that drove more than 700,000 members of the Muslim Rohingya minority across the border to seek safety in Bangladesh. State media for the first time on Monday referred to the protests, saying they were endangering the country’s stability. “Democracy can be destroyed if there is no discipline,” declared a statement from the Ministry of Information read on state television station MRTV. “We will have to take legal actions to prevent acts that are violating state stability, public safety and the rule of law.” However, the military commander who led the coup and is now Myanmar’s leader made no mention of the unrest in a 20-minute telev ised speech Monday night, his first to the public since the takeover. Senior Gen. Min Aung Hlaing instead repeated claims about voting fraud that have been the justification for the military’s takeover, allegations that were refuted by the state election commission.

He added that his junta would hold new elections as promised in a year and hand over power to the winners, and explained the junta’s intended policies for Covid-19 control and the economy. The general’s remarks, which included encouragement for foreign investors, did nothing to assuage concern in the international community. US State Department spokesman Ned Price said the US condemned violence against the protesters and reiterated the US’s earlier calls for the military to restore power to the elected government. “The international community is attempting every avenue to ensure that democracy and civilian leadership is restored in Burma,” Price said in Washington, using Myanmar’s former name. The UN’s Human Rights Council, based in Geneva, will meet Friday to consider the human rights implications of the crisis. Britain and the European Union spearheaded the request for the special session, which will amount to a high-profile public debate among diplomats over Myanmar and could lead to a resolution airing concerns or recommendations of international action. New Zealand suspended all military and high-level political contact with Myanmar, Foreign Minister Nanaia Mahuta announced Tuesday in Wellington, adding that any New Zealand aid should not go to or benefit Myanmar’s military government. “We do not recognize the legitimacy of the military-led government and we call on the military to immediately release all detained political leaders and restore civilian rule,” Mahuta said. New Zealand was also placing a travel ban on the military leaders. AP

Divide on Syria again blocks UN Security Council action

NITED NATIONS—The top UN envoy for Syria on Tuesday urged the rival international players in Syria to bridge the divides that have blocked any moves toward peace, but the chasm remained too deep for the Security Council to take any action. Geir Pedersen reiterated his disappointment to the UN’s most powerful body that after five rounds of preliminary discussions aimed at revising the war-torn country’s constitution—a key step toward UN-supervised elections— ended without progress on Jan. 29. But the Security Council could not agree on a press statement that would have expressed regret “that 17 months after the launch of the Syrian-owned and Syrian-led Constitutional Committee, the drafting of a constitutional reform...had not begun.” A revised statement dropped the expression of regret and made no mention of the Constitutional Committee, which diplomats said was at the request of Russia, a key ally of Syria’s government. But after objections from some Western nations at eliminating that key point, the attempt by the British council presidency

to issue a press statement was dropped, the diplomats said, speaking on condition of anonymity because the discussions were private. After the council meeting, its three European Union members—Estonia, France and Ireland along with previous members Germany and Belgium—issued a statement expressing regret at “no substantial progress” on a constitution and “regret that the Syrian regime continues to obstruct the process, refusing to engage constructively on the proposals of the special envoy and of the Syrian opposition.” The failed effort to produce a Security Council statement, which dragged on for more than six hours, reflects the extreme difficulty of making any movement toward ending the Syrian conflict, now in its 11th year. Pedersen’s frustration was evident when he talked to reporters from Geneva after virtually briefing the council, calling the Constitutional Committee meeting was “a missed opportunity.” He hinted at the time that the Syrian government delegation was to blame for the lack of progress. Pedersen said he told council members that he needs “a credible engagement to ensure that

if the committee reconvenes, it will function properly, work expeditiously, and achieve some results and continued progress.” More importantly, he said, “my key point was the need for a constructive international diplomacy on Syria.” He said he is “more convinced than ever that without this,” there will be no progress on a constitution or any other issue that needs to be resolved on the road to peace. “The current divides in the international community need to be bridged, in an effort to define mutual and reciprocal steps, ... defined with realism and precision, that can create some trust and confidence and generate movement on the issues,” Pedersen said. There appears to be agreement on one issue. Both draft press statements Tuesday referred to the need to adhere to a council resolution adopted in December 2015 that unanimously endorsed a road map to peace in Syria. It was approved in Geneva on June 30, 2012, by representatives of the United Nations, Arab League, European Union, Turkey and all five permanent Security Council members—the US, Russia, China, France and Britain.

The road map calls for a Syrian-led political process starting with the establishment of a transitional governing body, followed by the drafting of a new constitution and ending with UN-supervised elections. The resolution says the free and fair elections should meet “the highest international standards” of transparency and accountability, with all Syrians—including m e m b e r s o f t h e d i a s p o ra — e l i gi b l e to participate. At a Russian-hosted Syrian peace conference in January 2018, an agreement was reached to form a 150-member committee to draft a new constitution, which took until September 2019. A 45-member committee known as the “Small Body” has been meeting, unable so far to launch the drafting process. Pedersen said he told the council that when the Constitutional Committee meets again will depend on consultations he plans to have with the Syrian government, opposition and civil society, and with the two co-chairs of the discussion, “both on procedural questions, work plan, and hopefully, of course, also on substantive issues.” AP

A10 Thursday, February 11, 2021 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

Economic recovery sans Charter change

he economic crisis created by the Covid-19 pandemic calls for urgent government policy responses to support households and businesses trying to stay afloat.

The government needs to help a lot of Filipinos keep their jobs and put food on their tables. It has to make its stimulus packages matter most to the people who are barely eking out a living, as well as those who are downright desperate. The Philippine economy contracted by 9.5 percent in 2020, the worst performance in our country’s post-war history. The Labor department estimates unemployment to have risen to a recordhigh 10.2 percent in 2020, which is likely understated, as real unemployment could even be higher. An Asian Development Bank study also showed that 70.6 percent of micro, small and medium enterprises (MSMEs) in the Philippines were forced to temporarily close due to Covid-19. The government is pinning its hopes of a job rebound on the implementation of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act. Trade Secretary Ramon M. Lopez said the new law could encourage multinationals to locate in the Philippines, and their investments should, in turn, create employment opportunities. The CREATE Act brings down corporate income tax (CIT) to 25 percent, from 30 percent, the highest rate in Southeast Asia. It also introduces new fiscal incentives to replace those already enjoyed by investors and institutes deductions on operational costs, depending on the preference of the firm. The measure would grant new investments up to seven years of tax breaks, and investors can apply for five years of extension for incentives based on industry. Lopez said CREATE can bring over P200 billion in new investments that can generate 1.4 million to 2 million jobs. Another measure that can help economic recovery is the third installment of the Bayanihan Law, which would provide a P420-billion fund for sustainable recovery, including subsidies to small businesses for wages and other worker-related expenses, aid to businesses in critically impacted sectors, additional social amelioration to impacted households, assistance to farmers, livestock producers and fishermen, unemployment assistance and cash-for-work programs, Internet allowances to students and teachers in public and private schools, rehabilitation fund for typhoon-affected areas, and more money for vaccines. Indeed, the House of Representatives would do better to focus on the CREATE Act and the Bayanihan 3 law instead of ramming Charter change down people’s throats. It should also look into the unreleased and unutilized appropriations under the previous Bayanihan law. The latest Executive report on Bayanihan 2 issued last January showed only 73.74 percent of the authorized appropriations have been released by the Department of Budget and Management. The House also recently endorsed for Senate approval the Government Financial Institutions Unified Initiatives to Distressed Enterprises for Economic Recovery (Guide) Act. Transparency in these government support packages is critical for public trust. The administration must demand full accountability, especially amid this crisis, to ensure that relief aid will benefit target families that can barely eke out a living, on top of stimulating economic activity in the country. At a time when jobs are being lost and businesses are closing, the government must step in and make a difference. Providing funding to micro, small- and medium-sized enterprises, which account for 97 percent of all registered businesses in the Philippines and employ about two-thirds of the country’s labor force, would be a sure way to give people back their jobs. The best solution to poverty is to help poor people find a decent way of earning a living, either by giving them jobs or helping them start small businesses. In the long term, dole-outs cannot solve poverty and they will not help much in this pandemic. They may alleviate hunger in the short term, but after that what? Sure, the government needs short-term measures to address hunger and poverty. But cash dole-outs are palliative measures at best. Helping businesses recover would bring back jobs and put money in the pockets of workers to help them cope with this crippling pandemic. And the money they earn would be spent on goods and services, thereby boosting the economy. The government must also provide safe, efficient mass transportation to get workers to their workplaces. Changing the 1987 Constitution cannot prevent a catastrophic economic collapse that would have dire consequences for our people. There is no compelling reason and no public clamor for it. It will not do wonders for the economy. Lawmakers should cease and desist from pursuing it.

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Be like Joseph John Mangun

OUTSIDE THE BOX

admit that I have not attended any seminars given by those teaching “financial literacy.” From the outlines there seems to be emphasis on learning about bank accounts and insurance. That is important. Those who talk about how “God wants you to be rich” also have a place in the discussion. I suppose it may be true. Who am I to say otherwise? However, whether your financial literacy guru is “godly” or “godless,” all such wisdom begins about 3,500 years ago in the biblical book of Genesis. So Pharaoh said to Joseph (Genesis 41), “I hereby put you in charge of Egypt.” During the seven years of abundance the land produced plentifully. Joseph collected all the food produced in those seven years of abundance and stored it. The seven years of abundance came to an end, and the seven years of famine began. When the famine

Barricades of the Diliman Commune Dennis Gorecho

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had spread over the whole country, Joseph opened all the storehouses and sold grain to the Egyptians. And all the world came to Egypt to buy grain from Joseph, because the famine was severe everywhere. The key to Joseph’s success was that he managed the Pharaoh’s government as if it were a business. That is why his actions provide such a valuable lesson. Unfortunately, many businesses are managed as if they were “government” and that is not successful. The basic lesson from the Joseph story is that you accumulate (save) during good times and distribute (spend) during bad times. There is a problem. The gurus always talk

about the “save” and rarely about the “spend” except, “don’t spend too much.” You need to know how to prepare for both sides of the cycle and most of literacy conversations do not offer strategies for both feast/famine. The strategies are different. The Egyptians were not happy that grain prices did not drop during abundance because Joseph was hoarding all the excess grain. Human nature. No one really cared about automobile fuel efficiency until the price of gasoline in the US went from $0.39 in 1973 to $1.31 per gallon in 1981. There has been talk about how the Philippine government needs to spend more. The conversations leave this out: In the fourth quarter of 2019, total government spending was less than P300 billion. In the second quarter of 2020, that went up to P850 billion and currently holding at P600 billion per quarter. We now come to the part of the Joseph story no one discusses— Genesis 47—and this part will make you richer. Joseph collected all the money in Egypt in payment for the grain and brought it to Pharaoh’s palace. When the people’s money was gone, Joseph said, “Then bring

‘R

aise high the barricades!” was the headline of the February 4, 1971 issue of the Philippine Collegian that chronicled the so-called Diliman Commune.

The Diliman Commune occurred 50 years ago, from February 1-9, 1971, as an uprising led by the students, faculty members, and residents of the University of the Philippines in Diliman, together with transport workers in protest of the three-centavo increase in oil prices. I was barely two months old then when the nine-day uprising became an evidence of UP’s role as the “bastion of activism” since the early days of the Marcos dictatorship. It is the same academe where I later spent a decade of my student life in the late 1980s until late 1990s. A year before Marcos’ eventual declaration of Martial Law, the Diliman Commune is hailed as the first-ever display of mass resistance from the UPD community and the first student action after the First Quarter Storm. The “communards” bravely fought

for the safety of the campus against the violent police and military force under the common banner of academic freedom and the right of peaceful assembly. “Babalik kami. Mas madami.” After every chase and dispersal, where the military used sticks, shields, and guns to disperse the students, the UP community quickly consolidated their ranks and returned. The barricades were even raised higher by hauling logs, branches, chairs and tables from their classrooms to replace what had been destroyed. Improvised Molotov cocktails, pillboxes, and rockets were also used to deter police from entering the University. The Commune is just a historical point in the long history of radical activism in UP. The university teaches what

textbooks cannot capture, the state education curriculum avoids, or the military censors erase or prohibit. As a symbol of people standing up against oppression, fellow UP SAMASA member and visual artist Toym Imao recreated UP’s barricades in commemoration of the 50th anniversary of the Diliman Commune. “Barikada” is Imao’s art installation assembled from bamboo, repurposed materials and condemned classroom furniture, previous installations which are painted bright red. Imao said in an interview that “Barikada now not only represents a commemoration of the Diliman Commune but becomes an essential visual response to current developments concerning the university and state forces.” Fifty years later, attempts by state forces to dismantle the “barricade” continued, as recently amplified by the sudden, arbitrary, and unilateral termination by the Department of National Defense of the so-called UP-DND accord. The UP-DND Accord was signed on June 30, 1989 that established certain norms and protocols governing relations between the University and military and police forces. The termination eliminates key freedoms essential to UP’s academic freedom and institutional autonomy, such as the non-entry of military

your livestock.” They brought their livestock to Joseph, and he sold them food. When that year was over, they came to him; “All our money and our livestock now belong to you.” “So Joseph bought all the land in Egypt in exchange for food.” That is way too harsh but when you are Pharaoh and responsible for “maintaining the cosmic order,” anything goes. However, as a business owner— or you want to grow your personal wealth—knowing the strategies for prospering during times of famine is critical. If you saved during the good times, go buy a one-year-old car with 8,000 km on the odometer and a 3040 percent discount. If you are a company, you should be spending for expansion—from your savings during feast times— and not hiding in the shelter waiting for the typhoon to pass. If you are a stock market investor, you are buying shares of those few companies that are enhancing their business and not downsizing to survive. Be like Joseph. E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.

and police operatives into UP campuses nationwide as well as the noninterference by the military or police in protest activities except under strictly defined circumstances and after complying with strictly defined procedures. This is seen as part of the government’s propaganda of maliciously associating critical thinking and dissent to extremism or terrorism as it waged anti-communist witch hunts among those who dared to speak against the regime. However, UP will continue to be a bastion of resistance in the name of democracy, offering refuge to those marginalized and silenced by the state. All educational institutions, including UP, must be maintained as safe havens for civilized and intelligent discourse of all beliefs and forms of democratic expression, where students and teachers can discuss freely without fear of censorship or retaliation. UP shall continue to exist with a critical eye on social and historical issues. “Raise high the barricades!” Kule is the monicker of Philippine Collegian, the official student publication of UP Diliman. Atty. Dennis R. 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.

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Cashless payment, Healed and witnessing courier services–finding Msgr. Sabino A. Vengco Jr. opportunities in crisis

Alálaong Bagá

Val A. Villanueva

Businesswise

ot everybody loses during crises. It’s been an established business phenomenon that someone is sure to gain for somebody else’s loss. I wish it doesn’t have to be this way, but it is how the wheels of commerce turn. Ever heard of the stock-market phrase, “buy when there’s blood in the streets”? There’s no argument that the pandemic has brought the global economy to its knees. Millions have been out of work for months in the wake of most businesses closing shops around the world, even as governments scramble to raise the wherewithal to fund their various stimulus packages. But the pandemic has also brought out the resiliencies of many who find ways to thrive in these most trying times. In the village where I live, for example, Viber chat groups have mushroomed to serve as a platform to sell anything and everything under the sun. Cooped up in the comfort of our homes, my neighbors and I are enjoying the convenience of online buying and selling of food and such essentials for delivery right at our doorstep, minimizing the risk of going out and getting infected with Covid-19 and its variants. Multiply this experience to maybe thousands more subdivisions, and you’d get the drift of why and how small- and medium-sized businesses are coping with the pandemic and the almost year-long lockdown we’ve been through. Established restaurants, supermarkets, department stores, and other suppliers have likewise embraced cashless payments as the new business norm. The obvious beneficiaries, of course, are online banking providers and courier services. The growth of PayMaya and GCash has also spurred the expansion of courier services, such as Grab, Lalamove, 2-Go, JRS, market leader LBC, and many more. PayMaya, GCash and LBC appear to have taken a considerable bite at this growth pie. PayMaya, for one, ends the year with more than 28 million customers across its platforms expediently paying for purchases, adding money, cashing out, or remitting to other parties in over 200,000 touchpoints nationwide. PayMaya President Shailesh Baidwan was even quoted as saying, “This radical shift to cashless for the Philippines will only continue accelerating in 2021 as we offer more services and forge more enterprise partnerships that are relevant for many consumers.” Globe Telecom’s GCash, on the other hand, saw the number of registered users soaring 150 percent this month from mid-March last year. “In a world where digital is the new normal, financial technology should be considered the bedrock of digital services,” Pebbles Sy, chief technology and operations officer at Globe Fintech Innovations (or Mynt), which operates the GCash service, said in mid-May 2020. The Bangko Sentral Pilipinas (BSP) has set a target of raising the share of electronic payments to 50 percent in terms of volume by 2023. But the figure had only inched 10 percent in volume by 2018, according to a report published in December last year by the Better Than Cash Alliance, a UN-based partnership of governments, companies and international organizations that aimed to accelerate the transition from cash to digital payments. Coupled with the growth of online selling and e-commerce, the growing

habits of consumers to buy online has effectively increased demand for such delivery services, particularly through the changing lockdown levels and procedures. Needless to say, a rightward shift in the demand curve is usually met with a corresponding increase in supply. Indeed, while we have seen a number of local courier companies cropping up recently, LBC’s market ranking stands solid at the top. In a phone conversation with a friend (who holds a top position at the company and begged not to be identified), I learned that the company’s main holding company, LBC Express Holdings, more than made up for lost ground in the third quarter of 2020, as the demand for logistics and courier services surged alongside the gradual reopening of the economy. This meant a bottom-line boost of 38 percent yearon-year, placing LBC in a prime growth position for 2021. Originally known as the Luzon Brokerage Company, LBC was founded by the Araneta family initially as a brokerage firm. The company later expanded into air cargo and more logistics-based services as time went on. In 1985, the first branch of LBC outside the country was established in San Francisco. LBC introduced a game-changing concept that has become a ubiquitous part of Filipino culture: the Balikbayan Box. To date, LBC has over 6,400 locations across the Philippines, the US, Canada, as well as Hong Kong, Brunei Darussalam, Malaysia, Australia, Singapore, Germany, the UAE, South Korea, Japan, Spain, Kuwait, South Korea, and Taiwan. They are the country’s market leader in payments and remittance, documents and mail, parcels and boxes, and cargo and logistics. As a testament to their corporate foundations and resiliency, they actually made significant gains in their earnings despite the pandemic. Driving LBC’s success in the midst of the pandemic, according to my friend, are the extraordinary strides the company is taking in maintaining safety protocols and Covid-proofing its processes to ensure business flexibility and stability. He says that the Employers Confederation of the Philippines has lauded LBC for enacting best practices during the pandemic. “At the height of the lockdown, we activated our ‘Business Continuity Plan,’ which encompassed action modules for employees and overall operations. We set in place guidelines for skeletal forces and put majority of office workers on Workfrom-Home arrangements. We also heightened precautionary and preventative measures to deliver quality services while at the same time ensuring the safety of our frontliners.” Now that both traders and consumers have discovered the convenience of cashless trading and courier services, is it safe to say then that this kind of transaction will be the business default mode even after the pandemic has been contained?

For comments and suggestions, e-mail me at mvala.v@gmail.com

he gospel account of the leper healed by Jesus (Mark 1:40-45) presents a picture of what we as Christians should be as reborn and reconciled believers. In our on-going meditation on Jesus Christ, we discover that it is in his power and in his compassion that we find our salvation.

Repugnant, bold IN the ancient world leprosy condemns a person among the living dead. For the Jews, it and other skin diseases were seen as scourge from God and rendered a person unclean and unfit for life in community with others. The strict quarantine imposed to protect others meant the leper must be excluded from society, branded and ostensibly segregated, announcing at the sight of anyone else his/her wretched state. In the gospel account, it was surprisingly bold of the leper to approach Jesus. Clearly, the leper was ready to do whatever it takes to get out of his miseries, disregarding taboos. Jesus himself was amazingly daring, letting the leper get near him

and entering into an exchange with him. Moved with pity, Jesus even stretched out his hand and touched the leper to heal him. In his loving mercy, Jesus often disregarded human taboos, actually welcoming and even seeking out the repugnant outcasts and the forsaken ones of society like a good shepherd searching for the lost sheep. It was not a sentimental pity Jesus had for the man, but a form of “anger” inasmuch as leprosy was then associated with sin as being somehow demon-caused, and so healing often involved exorcism. That is why Jesus is described as “warning him sternly, he dismissed him at once”—as in casting demons away. With the evil spirit authoritatively driven out of the man, the leprosy is said also to have “left him immediately.”

Thursday, February 11, 2021 A11

Believing, healed, witnessing

Apparently aware of the happenings and the news around him in connection with the mighty deeds of Jesus, the initial faith and hope of the leper in Jesus emboldened him to break through the wall segregating him from the rest of the living and to connect personally with the one who can give him new life. His words to Jesus: “If you wish, you can make me clean” reveal his startling confidence in Jesus, who responded to this profession of faith with his creative words: “I do will it. Be made clean.” The love of Jesus cannot not respond to anyone calling upon him. The man healed was told not to tell anyone anything, but to go and report to the authorities for the official verification of his cure leading to his readmission into the community. The miraculous healing was like a window of light through which the “secret” of Jesus penetrated the man’s consciousness. He could not possibly have kept his mouth shut in such as overwhelmingly joy-filled development in his life. His very person as healed and reborn and his presence alone would have shouted the miracle abroad, a testimony to Jesus, an invitation to others to believe in him. The erstwhile leper made the story, the word about Jesus, public, “proclaiming” it as the

Associated Press

OLOGNE, Germany—Bars have been closed for more than three months, Carnival celebrations are canceled, and it’s not clear when things will get better in Germany. That has left the boss of Brauerei Heller, an organic brewery in Cologne, thinking “from week to week” as she tries to chart a course out of the coronavirus pandemic. Official data released last week showed beer sales in Germany dropped 5.5 percent last year to 8.7 billion liters (2.3 billion gallons), a decline fostered by lengthy shutdowns. German bars and restaurants were

closed from March until May, and have been shut again since the beginning of November as part of the country’s second lockdown. Major events and festivals where large amounts of beer would usually be consumed also have been canceled. The current lockdown was set to end on February 14, but the government could announce an extension on Wednesday that will keep on hurting beer sales. That’s a problem above all for Germany’s many small brewers. MarcOliver Huhnholz, the spokesman for the German Brewers’ Association, says the country has over 1,500 breweries, including more than 1,000 small ones “that are very strong in the catering in-

Alálaong bagá, the former leper is a symbol of the believer, coming into contact with Jesus, purified from the leprosy of sin and reclaimed from death, and restored to a life of communion with God and with others. Healed, reborn and reconciled, the Christian proclaims in joy the good news of salvation personally experienced. Touched by Jesus, such a person is never the same again. Liberated from the forces of evil, the follower of Jesus becomes a witness to him, testifying by one’s life that Jesus is the Savior. Can it be said that in 500 years of Christianity enough Filipinos have already come into personal contact with Jesus and touched by him have been freed from repugnant disorders? Though some have been healed and reconciled, we realize that evil in many forms is still very much at home among us. Evangelization and conversion to Jesus is clearly as urgent as ever. What joy in Jesus have we ourselves been proclaiming to the world and to one another by our lives? Are we healed (or healing) and witnessing? 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.

Draft new commitments to Paris Agreement: Still not ambitious enough Dr. Rene E. Ofreneo

LABOREM EXERCENS

he Climate Change Commission (CCC) conducted last January another consultation with civil society organizations (CSOs) on the new or updated proposals of the Philippines to the Paris Agreement of 2015. Under the said Agreement, UN Member States are supposed to submit last December their revised Nationally Determined Contributions (NDCs). The overarching goal of the Paris Agreement is to limit the rise of global temperature to 1.5-degree Celsius (maximum of 2.0-degree Celsius) from the preindustrial era in order to prevent a catastrophic global inferno called global warming.

In its December consultation with the CSOs, the CCC presented an NDC draft that outlines a Philippine mitigation target (reduction of GHG emission) of 70 percent from what the UN climatologists call as the “business as usual” conduct of the economic and social life of a country. In the January consultation, the CCC increased the target to 75 percent. The participating CSOs were not impressed with the increased mitigation target. First, they asked why the CCC missed the December 2020 deadline, which was explicitly provided in the 2015 Paris Agreement. Secondly and more importantly, they felt that the draft NDC was not ambitious enough nor equitable and just. Additionally, the NDC draft, like the original initial NDC submitted in 2015, was vague on how certain targets or contributions can

be met. Relevant sectors were also not included. Among the CSOs’ criticisms are the following: n The forestry sector, a critical element in any mitigation and adaptation program, was missing. n The agriculture sector, which contributes to GHG emission through certain cropping system such as GMO-based production, has no mitigation targets. n The must-do “unconditional target” of the CCC was a measly 2.33 percent. The “conditional” targets—over 72 percent—are obviously tied to the assistance that the Philippines can get from the global climate change fund that the developed countries, in the name of “climate justice,” are supposed to support. Should such fund be limited or even not available,

should the Philippines stop doing mitigation? It should not stop in its efforts to reduce GHG emissions. But it should not also stop demanding securing such climate mitigation assistance as a matter of principle. After all, the Philippines, one of the lowest GHG emitters, is one of the top 5 countries that are most vulnerable to the climate change phenomenon, which is a direct offshoot of the industrialization efforts and natureeroding consumption culture in the developed countries. This is simply a question of justice, as the Philippine Movement for Climate Justice puts it. Moreover, the drafting and submission of an updated NDC are a good opportunity for the Philippines to develop an integrated and holistic approach to the reduction of the country’s vulnerability to climate change risks, with or without the Paris Agreement. Such risks cannot be addressed through the usual bureaucratic or rhetorical calls for more environmental protection and green recovery. On the mitigation side, the country can generate more jobs by going green. In the energy sector, studies show that the renewables—geothermal, hydro, wind and solar—are job intensive and are now cheaper compared to the GHG emitters—coal, oil and gas. Why the hesitation of the Department of Energy in issuing a call for a green energy shift? Why should the Department limit itself to making a timid announcement of a vague “moratorium” for new coal plants, without mentioning the

Lockdowns weigh on German beer sales, hurt small brewers By Daniel Niemann

first Christians, the early Church, would irrepressibly proclaim the good news of Jesus Christ.

dustry. So they sell their beer in their bars and restaurants, and they are, of course, massively affected.” One such case is Brauerei Heller, a nearly 30-year-old organic brewery with its own beer garden. “We’re getting through the pandemic from week to week,” CEO Anna Heller said. Strong summer business followed Germany’s relatively short first lockdown, but when the winter started “everything was over again,” Heller said. The brewery is largely dependent on draft beer; only about 20 percent of its output is bottled beer, which doesn’t depend so much on open bars. Heller says she has “no idea how far and how well we can carry on like this.” Revenues were down 40 percent on a

normal year in 2020, “and without help we wouldn’t survive at all,” she said. The German government has put together a series of aid packages for companies affected by the pandemic. “We are producing now for the time afterward, because beer isn’t ready straight away,” said Heller, whose brewery produces some 400,000 liters (105,000 gallons) in a normal year and has 15 employees. “We have to plan, look to the future and produce ahead of time, but if things don’t go the way we hope, then we’ve produced for nothing and run up personnel costs.” There’s little visibility right now on when bars and restaurants might reopen. Germany’s infection rates are gradually declining toward the

government’s target level, and politicians have vowed to open schools and childcare centers as the first priority. Heller said she hopes for “clear figures” from political leaders on the point at which bars and restaurants can reopen, and says it must be recognized that they can’t then close again after two weeks. “That would break our necks,” she said. Chancellor Angela Merkel and the country’s 16 state governors are meeting on Wednesday to discuss the way forward. While beer remains emblematic of Germany, the country’s beer sales have been declining gradually for years as a result of health concerns and other

need to phase out coal plants, both the existing ones and those in the development process? As to reforestation, this is a mitigation as well as adaptation instrument. The effort to shift to green transport is good, except that the Department of Transportation has to address the missing “just transition” measures to support those dislocated by a green transformation, such as what has happened to the jeepney drivers and operators. As to the blueprint for adaptation, this should accompany the drafting of the NDC. The Philippine readiness to climate change risks is abysmally low. While the level of CC awareness is high among Filipinos, the level of preparedness for possible disasters remains generally weak, as what we recently witnessed with the arrival of Typhoon Ulysses last year. We have a DRRM law that cascades down to the lowest level of government the task of developing a disaster risk reduction and management. The Department of Environment and Natural Resources and the Department of Interior and Local Government should undertake a review of the DRRM program and initiate a possible overhaul of the nationwide DRRM system. The truth is that the entire archipelago is vulnerable to climate change risks. And yet, the irony is that the country has been hailed for having the most comprehensive set of environmental laws in Asia. The challenge is for government policy makers to walk the talk in addressing the twin challenge of mitigation and adaptation.

factors. They have fallen 22.3 percent since 1993. But last year’s drop was unusually sharp, and a month-by-month breakdown pointed to the impact of coronavirus restrictions. Sales were down 17.3 percent in April compared with a year earlier, and down 14.1 percent in November. Huhnholz says some breweries have seen revenue drops of up to 70 percent or 80 percent. “We hope that if things open up around Easter at the latest, the catering business can resume, and many breweries will get out of the worst time since World War II and survive,” he said. Geir Moulson and Volkmar Kienoel in Berlin contributed to this report.

A12 Thursday, February 11, 2021

Economic team to assess Bayanihan 3 fiscal impact By Bernadette D. Nicolas @BNicolasBM

HE government’s economic team will be assessing the economic and fiscal impact of the proposed P420-billion Bayanihan 3.

Budget Assistant Secretary and spokesman Rolando U. Toledo said the Development Budget Coordination Committee (DBCC) is willing to work with Congress for the “proper review of the proposed Bayanihan 3.” In a message to BusinessMirror, Toledo said, “However, we are presently prioritizing the prudent utilization of the appropriations authorized under the FY 2021 National Budget, as well as the FY 2020 GA A and Bayanihan 2 whose periods of validity have been extended until December 31, 2021 and June 30, 2021, respectively. Rest assured that we will carefully study the proposed Bayanihan 3, specifically its intended effect on eco-

nomic recovery and its impact on the country’s fiscal space.” Budget Secretary Wendel E. Avisado refused to comment on the proposed measure “until the DBCC meets and take up this matter.” But Toledo said there is “no schedule yet” for the DBCC meeting. House Committee on Appropriations Chairman Eric Go Yap has said they will work closely with the Department of Budget and Management and Department of Finance to secure the funding for the proposed measure. Marikina Rep. Stella Luz A. Quimbo also earlier said Bayanihan 3 will be a “big help to avoid stagflation,” which she defines as the combination of a stagnant economic output and rising inflation.

However, Finance Undersecretary and Chief Economist Gil Beltran told BusinessMirror “no stagflation is expected in 2021 with or without Bayanihan 3.” Beltran did not elaborate. Local economists earlier interviewed by the BusinessMirror also said there could be no stagflation without runaway inflation, or inflation rates of above 50 percent.

No funding issue

On Wednesday, Quimbo said in a forum that finding P420 billion for Bayanihan 3 is a non-issue. Quimbo, who filed the Bayanihan 3 together with Speaker Lord Allan Velasco, claimed that, “As of end-November 2020, the estimated cash balance in our Treasury is at P1.6 trillion. Apart from this, our total net borrowing is at P2.82 trillion. We have more than enough for what we need in Bayanihan 3.” Once enacted, House Bill (HB) 8628 or the proposed “Bayanihan to Arise As One Act” would be the third installment of the government’s response to Covid-19 and its devastating impact on the economy. Quimbo urged President Duterte

to certify as urgent Bayanihan 3 bill to boost the recovery. “If there is one indisputable thing, that is the economy has turned out worse than what we had all expected, and even the President agrees with this,” Quimbo said. Quimbo said the government needs to infuse a substantial amount into the economy to prevent “stagflation.” She noted that compared to other Asian countries, the Philippines spent too little against its gross domestic product or GDP in 2020. “One of the main drivers of the decline is the decrease of 7.9 percent in household consumption. Meanwhile, government spending only contributed 1.3 percent to GDP growth last year. At a time when the economy is prostrate and government is being looked to for pumppriming, the growth in government spending is so little,” Quimbo said, partly in Filipino. HB 8628 seeks to allocate P420 billion for much-needed Covid-19 response as well as recovery interventions grounded on economic inclusivity and collective growth.

HOUSE PANEL TO TRACK CLIMATE CHANGE FUNDS By Jovee Marie N. dela Cruz

@joveemarie

OLLOWING the study report on the “over-reported” climate financing to the Philippines, the chairman of the House Committee on Climate Change on Wednesday said he will activate the congressional oversight function to track the funds and craft specific measures to govern the climate finance accountability. During a roundtable discussion on climate adaption finance tracking, Bohol Rep. Edgar Chatto said his committee will closely coordinate with the Department of Finance (DOF), Climate Change Commission (CCC) and Department of Budget and Management on this matter. “The most obvious answer by the legislative is the [activation of] congressional oversight, which serves as check and balance for the Executive branch of the government by reviewing and evaluating its projects and operations including its management of climate finance,” he said. According to Institute for Climate and Sustainable Cities (ICSC) Deputy Executive

Director Angelo Kairos dela Cruz, the Philippines received $4.3 billion worth of climate financing between 2013 and 2017. However, $2.1 billion of the amount was allocated for adaptation; but some $770 million, or 37 percent, could be considered as “over-reported” funds. “In total, the team calculates that 37 percent of the $2.10 billion of adaptation finance reported by donors across the 18 assessed projects can be considered as over-reported. Primarily arising in projects committed by Japan ($425 million), the World Bank ($156 million), France ($98 million), the Asian Infrastructure Investment Bank ($54 million), and Korea ($32 million). Highlighting the high potential for inflated adaptation finance figures and a significant level of inaccuracy in current donor reporting methods,” he said during the forum. Dela Cruz said developed countries usually account for their climate-related spending as part of their commitments to international agreements such as in the United Nations Framework Convention on Climate Change. Continued on A2

Continued on A3

Pandemic slows PHL gains in meeting SDG By Cai U. Ordinario

@caiordinario

HE Philippines’s progress in achieving the Sustainable Development Goals (SDGs) suffered under the weight of the pandemic and could lead to a regression in the country’s performance in the global goals, according to the Philippine Institute for Development Studies (PIDS). In the United Nations Common Country Assessment Update for the Philippines, PIDS Research Fellow Adoracion M. Navarro, President Celia M. Reyes, and Research Fellow Kris A. Francisco said the Social Amelioration Program (SAP) did not prevent millions from becoming poor due to lockdowns imposed to avert the spread of Covid-19. Based on a simulation, Covid-19 could increase poverty incidence among families and population to 18 percent and 23.8 percent, respectively. With the same, poverty incidence could go down to 13.8 percent for families and 19.4 percent for population, regardless of whether 14 million or 18 million received the subsidy. “The simulation results suggest that around 1.44 million families covering about 7.53 million individuals will become poor as a result of the pandemic,” the authors said. “The SAP reduces the number of new poor to 400,000 families or 2.82 million individuals. Clearly, given the projected economic performance, poverty will increase despite the presence of the SAP,” they added. This is one reason the authors said could cause the country’s regression in achieving SDG 1 on eradicating poverty. Prior to the pandemic, the country had already cut its poverty incidence. “Significant progress in poverty reduction, the bedrock of all SDGs, is among the recent key accomplishments of the Philippines but it is now evident that this is a fragile progress due to the pandemic,” they said.

Apart from poverty, targets where the country may have regressed include SDG 4 on quality education, given that basic education quality remained a problem. Inequality in access to ICT infrastructure during the pandemic is seen to worsen this. The target on gender equality under SDG 5 is also at risk of regression. During the lockdowns, violence against women and children continued and may have worsened. Performance may have also regressed in terms of decent work and economic growth under SDG 8, as millions lost their jobs during the lockdown. The country’s performance on SDG 9 which focused on industry, innovation, and infrastructure may have worsened because the country continues to suffer from low levels of industrialization; research and development investments remain low; and the country’s infrastructure stock remains low. For SDG 11 on sustainable cities and communities, the authors said efforts may have regressed because decent housing remains a problem for 2.45 million Filipinos. The pandemic also exposed the weaknesses of disaster mitigation and adaptation efforts, which led to displacements and the failure to maintain physical distancing in evacuation centers. “Covid-19 impacts are anticipated to result in regression in human development capacities and opportunities. These are also expected to thwart economic prosperity, change consumption behavior and affect the environment,” the researchers said. Delays in peacekeeping activities and fiscal resources realignments might also affect the communities that are trying to recover from violence and armed conflicts, especially in Mindanao,” they added. Meanwhile, efforts to attain the SDGs has been an uphill battle for the country since efforts to attain several goals were deemed off-track even before the pandemic. Continued on A3

Because the Chinese New Year will celebrate bovines in a few days, A People for the Ethical Treatment of Animals (PETA) “Cow” visits Binondo in Manila at the Fountain near Santa Cruz church, holding a sign that reads, “Make it a Good Year for Cows, Go Vegan,” in order to encourage people to make the new year compassionate and happy for everyone. The Year of the Ox is the perfect time to start practicing compassion for cows and other animals by going vegan and leaving meat and dairy off your plates, the advocates preached. ROY DOMINGO

Neda wants private sector investments for recovery

O boost economic recovery, the government will support private sector investments that will push business expansion in digital transformation, education continuity, food resilience and health, according to the National Economic and Development Authority (Neda). In a statement during a recent online press conference, Neda Policy and Planning Group Undersecretary Rosemarie Edillon said, “We want the private sector to have more investments in these areas.” Solutions for digitalization and learning continuity will support business continuity and distance learning amid the prolonged lockdown, she pointed out. Edillon said the government will identify investments to support in

these sectors. According to Globe Telecom President Ernest Cu, capital expenditures for 2020 will reach P70 billion for the building of 2,000 new sites and faster fiber rollout to address home connectivity for the largely underserved market. More areas will have high-speed 4G LTE and 5G technologies and better Internet services. Smart Communications has committed to expand their fiber footprint and wireless coverage to address increasing demand, allocating up to P88 billion to P98 billion capex in 2021. In a statement, Consumer group Bantay Konsy umer, K a lsada, Kuryente (BK3) called for increasing public investments for digital transformation and telecommuni-

cations infrastructure as a priority to address the economic shock of the people. BK3 Lead Convenor Louie Montemar said in a statement, “Even ordinary consumers must now depend on digital technologies to survive the daily burdens caused by non-contact safety protocols.” He added: “Our smart phones have become indispensable to for communication, business transactions, medical emergencies, education, and personal activities.” In a separate statement, CitizenWatch Philippines Lead Convenor Orlando Oxales said, “Aggressive investments already being done by the private telecommunications companies to expand and improve Internet service will accelerate rapidly if government steps in to build

a nationwide broadband backbone that will integrate with tower and fiber networks of private telcos.” “Hence, it makes sense for government to allocate enough funding to at least operationalize the existing fiber network in the NGCP’s power transmission infrastructure and link-up with existing networks of private telcos,” Oxales said. The data in the November 2020 report of TowerXchange show that Thailand has 52,483 telecommunications towers while Vietnam has 90,000. This is over 5 times the 17,850 cell towers in the Philippines. Vietnam has only 756 users per tower and Thailand, 991—compared to 4,090 users per tower in the Philippines, resulting in intermittent and slower services due to high congestion.

www.businessmirror.com.ph

Companies BusinessMirror

Thursday, February 11, 2021

Globe banking on improved ‘Converge fiber network reaches network to boost revenues

By Lorenz S. Marasigan

@lorenzmarasigan

ESPITE the lingering effect of the pandemic on the economy, Globe Telecom Inc. hopes to overturn last year’s decline in revenues to post a “modest” single-digit growth this year, as it ramps up its network development program. Globe CFO Rizza Maniego-Eala said the company hopes to tread on a more favorable growth path this year, despite posting a 2-percent decline in revenues last year due to the Covid-19 pandemic. “Revenues will grow in the low single digit for 2021,” she said. The Ayala-led telco, she said, is investing P70 billion in capital ex-

penditures (capex) this year, higher than the P60.3-billion capex spent in 2020 to further modernize its mobile and fixed line networks. “We will fund it with cash from operations and borrow some debt for 2021,” she said. “We do have some borrowing planned for this year. We will monitor it depending on cash inflows.”

Globe, as of end-2020, has a cash balance of P90.5 billion. Ernest L. Cu, the company’s president, noted that the record capex will help drive the single-digit revenue growth target for 2021, as it seeks to gain more customers on the back of the demand for home broadband this year. “We remain optimistic that our strategy to focus on fulfilling the needs of our customers, backed by our resilient and improved network, will drive our performance moving forward,” he said. Globe reported on Wednesday that it booked a net income of P18.62 billion in 2020, a 16-percent drop from P22.28 billion the year prior, as its revenues dipped by 2 percent to P146.38 billion, from P149.01 billion while posting flattish operating expenses at P72.87 billion. Its core net income likewise plunged by 13 percent to P19.52 billion from P22.45 billion during the

same comparative periods. On a normalized basis, which removes the effects of seasonality, one-time influences, and unusual revenue and expenses, Globe booked a net income of P20.44 billion, still an 8-percent decline from the P22.28 billion it booked the year prior. “2020 was a challenging year for Globe but we pulled through despite the Covid-19 pandemic and adverse economic environment. Our prudent financial management in these turbulent times allowed us to maintain strong cash flows, giving us the flexibility to continue to invest back into our network,” Cu said. He noted that as an industry, the telecom sector will likely grow this year so long as the economy continues to open up despite the rigid demands of the pandemic. “The industry will continue to grow as long as we don’t have the severe lockdowns that we had,” Cu said.

CASA eyes ₧558M from share sale By VG Cabuag @villygc

ugar miller Central Azucarera de San Antonio Inc. (CASA) is set to raise some P558.47 million in fresh cash through direct public offering of its primary and secondary shares. In its registration statement filed with the Securities and Exchange Commission, the company said it will sell some 277,500 common shares, or 15 percent of the company's issued and outstanding common shares, at an offer price of P2,012.52 apiece. The offer consists of 214,571 common shares in primary offering and 62,929 common shares in secondary offer that will come from the existing shareholders of the company, mainly the Chan family, who owe their fortunes to sugar milling in Iloilo since the pre-war period. The company engaged SB Capital Investment Corp. as the issue manager and underwriter for the

Heineken CEO targets to cut 8,000 jobs

eineken NV plans to cut 8,000 jobs as the beermaker’s business with bars and restaurants suffers from pandemic-related lockdowns. The staff reductions, which amount to almost a 10th of the workforce, are part of a target for 2 billion euros ($2.4 billion) in gross savings through 2023, Heineken said Wednesday. About a fifth of jobs at the brewer’s headquarters are set to be eliminated in the first quarter of this year. “On the productivity side, we need a bit more of an intervention, and that shouldn’t stop in 2023,” Chief Executive Officer Dolf van den Brink said by phone. The world’s second-largest brewer after Anheuser-Busch InBev NV outlined additional strategic initiatives under its turnaround program launched last year, including targeting an operating margin of 17 percent by 2023. That would bring the measure of profitability into line with levels achieved before the pandemic. The shares fell as much as 2.1 percent in early trading in Amsterdam. The stock declined 6 percent in 2020.

Sales miss

The results mark the CEO’s first year at the helm—a baptism of fire given the impact of the coronavirus on pubs and the mass-market beer industry. In Europe, Heineken estimates that about a third of the bars it sells to were closed during 2020. Heineken had announced job cuts last autumn, without putting a number on the reductions. Bloomberg News

transaction. Direct public offer involves selling of shares only through SB Capital. It will not be listed at any exchange. It placed a minimum subscription of 100 shares and increments of 10 shares thereafter. The company is authorized to distribute dividends out of its surplus profit. Dividends paid in the form of cash or property is subject to the approval of its board. A chunk of the net proceeds from the offer will be used to upgrade the company's 15-megawatt cogeneration facility, motor pool and sugar factory, as well as for land acquisition. The company was organized in February 2003 with its primary office in Makati and sugar milling facilities in Passi City in Iloilo. It is mainly engaged in sugar milling and selling of any by-products generated by its facilities to other entities. The company started its commercial operations on October 1, 2008. Its

shareholders are comprised mainly of members of the Chan family. CASA’s primary business is sugar milling, with its facilities having a maximum milling capacity of 8,000 tons of cane per day. Its main products are raw sugar and its by-products include sugarcane molasses. Antonio Steven L. Chan, the brother of singer Jose Marie Chan, founded the company and has been its president since 2008. On March 31, 2011, the Department of Energy approved the registration of the company as a Renewable Energy Developer of Biomass Energy Resources covered by Biomass Renewable Energy Operating Contract no. 2011-03-021 that took effect on the same date. CASA was born from the success of Central Azucarera de Bais Inc. (CAB), which is also majority owned by the Chan family, one of the oldest sugar mills in the Philippines. CAB was established in 1918 by Compania General de Tabacos de

Filipinas, known more popularly as "Tabacalera". In 1979, Antonio Chan, then a prominent sugar trader, acquired CAB from the Tabacalera group, signaling his family’s initial foray into sugar milling. Last year, CAB completed a factory-wide modernization project modeled almost identically after CASA’s technological success. The company has initiated the expansion of its co-generation facilities with the contemplated 8 MW increase in installed generation capacity. It expects some delays in the completion of the co-generation plant expansion and export of generated electricity. This is due to the delays in the development of the expansion facilities caused by restrictions in the entry of foreign thermal and electrical contractors. It also expects delays in the completion of required transmission lines by the National Grid Corporation of the Philippines.

unserved areas’ C

onverge ICT Solutions Inc. said on Wednesday it has more than doubled its fiber network in 2020, providing Internet services to underserved and unserved areas in the country. Dennis Anthony Uy, the company’s CEO, said the fiber network of Converge now runs to over 55,000 kilometers, 28,300 kilometers more than the prior year’s 26,600 kilometers of fiber optic cables. “We have been accelerating the expansion of our fiber optic network because we wanted to reach the underserved and unserved areas in the country which are longing for fiber-fast internet service,” he said. Through the fiber infrastructure, Converge has made available nearly 2.7 million fiber-to-the-home ports nationwide. At end-2020, Converge had over 1 million subscribers, or double its 529,000 home subscribers the year prior. “The community quarantine regulations due to the Covid-19 pandemic that made people rely more on their internet service for work and study at home have only made our

Global launch of One World Filter™ System

AiFEN True Water Inc. globally launched the One World Filter™ System last January 28 at the PCCI Innovation Center in Double Dragon Meridian Park in Pasay City. AiFen True Water Inc., founded by businessman and trusted advocate for Filipino innovation, Dr. Alberto Fenix, Jr. is the country group distributor in the Philippines. Photo shows AiFEN True Water Inc. president, Dr. Alberto Fenix Jr., turning over a One World Filter™ starter set to Philippine Chamber of Commerce and Industry president, Amb. Benedicto Yujuico, to symbolize that the OWF System is now available worldwide and in the Philippines on February 1. Contributed Photo

Study: 4 in 5 firms to retain, W expand work force in PHL P hilippine businesses are becoming more optimistic, according to a study, which indicated that 35 percent of companies will increase their headcount while 45 percent will maintain the status quo this year. “We are seeing positivity increase across the board with regards to recruitment and hiring in the Philippines. W hile the country’s e-commerce and logistics sectors aren’t as developed as other Asia Pacific markets, the traditional consumer markets have remained robust and are assisting in the economic recovery,” Olly Riches, managing director of Michael Page Indonesia and the Philippines, said in a statement. Based on Michael Page Philippines’s Talent Trends 2021 Report, e-commerce, financial services, healthcare and life sciences, technology and telecoms, and fast moving consumer goods are the Top 5 sectors where hiring activities happen mostly in 2021. The Top 5 job types that are indemand are general management, marketing, supply chain, sales, and technology.

“Acquiring and retaining high potential talent will be crucial to enable companies to build sustainable operations to position for future growth,” he noted. To bridge skill gaps resulting from their move to business recovery this year, 56 percent of the companies surveyed nationwide cited their continued investment in employees by upskilling them with training, 56 percent turned to the use of automation for basic processes, 31 percent opted fulltime hires in key areas, 17 percent looked for short-term contract hires, and 19 percent considered outsourcing or engaging thirdparty service providers. While the Philippine economy contracted between 8.5 percent and 9.5 percent in 2020, 63 percent of employers said they intend to give a salary increase and 55 percent plan to distribute bonus payments to their employees. However, 30 percent of firms said they expect employee promotions will be postponed in 2021, with middle management employees likely to be the most affected. Looking forward, 85 percent

of firms still believe that things would change for the better from the second quarter of this year onwards. A bullish prospect is, likewise, apparent among the workforce as 67 percent of those employed anticipate new job opportunities this year, while another 31 percent are passively open to new roles. Before applying for a job, the study showed that 1 in 3 of the respondents did extensive research first on the company via its portal, social media, or review sites. Sixty-eight percent of the survey participants stated remuneration and benefits as their top consideration when accepting a work offer. Beyond this, Michael Page found out that professionals, whether baby boomers (born in or before 1965), Gen X (born in or between 1966 and 198), and Gen Y and Z (born in or after 1981) ranked career growth opportunities, healthy work culture and an aligned company mission to personal values as the top factors on their perception towards their employers of choice. Roderick L. Abad

mission to deliver fiber-fast broadband to a greater number of Filipinos more urgent,” Uy said. Converge aims to have at least 15 million subscribers by 2025. Currently, Converge recorded 6.1 million homes passed, which is about 25 percent of the total households in the Philippines. “We are well on track to meeting our goal of reaching over 15 million or 55 percent of Philippine households by 2025 and ready to serve the highspeed broadband requirements of the majority of our people,” Uy noted. Last month, Converge said it has completed the deployment of a third core node for its fiber network, boosting its redundancy and resiliency against outages. Uy said the new node will enable the company to perform a “robust and redundant traffic routing,” ensuring that the network is “more fault-tolerant.” He added that with the third node the company’s “fiber network becomes stronger and more resilient with a more efficient network traffic distribution and better ability to address outages.” Lorenz S. Marasigan

hile drinking water is our most basic need, it has become less and less accessible over the decades for all social classes. Going out to replenish our pantries has become risky and exhausting, especially when you have to go out of your way to carry several bottles of water for your whole family that would only last you a few days. Many have addressed this issue, but these found solutions transformed into a different problem pertaining to the budget to have access to safe and affordable drinking water. In 2021, as the news of the pandemic continues to fill everyone’s newsfeed, a solution to one of our everyday woes has finally come to light. On January 28, AiFEN True Water Inc., launched globally the One World Filter™ System at the newly established PCCI Innovation Center located in Double Dragon Meridian Park in Pasay City, Philippines. One World Filter™ (OWF) System is a revolutionary, microbiological and chemical interception filter system based on proprietary nanotechnology that releases no chemicals and does not remove essential salts and minerals from the water thereby producing safe, good tasting, and healthy drinking water. One World Filter™ System can process wells, rivers, lakes, ponds and even rainwater and requires no electricity

to operate and produces the safest and most affordable drinking water on the planet. Peter Heilveil, the Chief Technology Officer of One World Filter™ Corp. said that, “Terms like revolutionary, disruptive, game-changing are commonly banted about these days, and frequently are no more than marketing hype. The OWF Water Purification Technology on the other hand is the real thing, bringing an end to waterborne diseases globally." The Country Group Distributor in the Philippines is AiFEN True Water Inc., founded by businessman and trusted advocate for Filipino innovation, Dr. Alberto Fenix, Jr. The OWF System will be available for nationwide delivery via the One World Filter™ Philippines’ official website. When asked why he got into this business endeavor, Dr. Fenix said, “I decided to undertake this business because of its tremendous social and environmental benefits. Our company’s goal is for all Filipinos to have the OWF System and thus improve their quality of life.” The replaceable OWF Filter Packs are manufactured in Connecticut, USA by one of the world’s pioneers in air and water filtration, Dr. Evan Koslow. The OWF dispensers are proudly made in the Philippines. One World Filter™ System will be available in the Philippines in February 2021.

Companies BusinessMirror

Thursday, February 11, 2021

PSE STOCK QUOTATIONS

February 10, 2021

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

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

43.8 107.3 85 24 7.73 10.18 49.05 11.26 26.5 54.25 97.05 17.5 127.9 72 0.99 3.99 0.56 3.65 7.5 1.57 0.42 0.67 151.4 2,100

44.5 107.5 85.4 24.5 8.2 10.2 49.1 11.28 26.55 54.9 112 17.84 130.3 72.9 1 4 0.59 3.74 7.79 1.58 0.445 0.71 152.5 2,156

44 112.4 86.65 24.7 8.33 10.24 49.9 11.3 26.7 54.25 96.3 17.5 130.8 72 1.02 4.05 0.59 3.76 7.1 1.58 0.42 0.7 151.9 2,150

44 112.5 87.15 24.7 8.33 10.24 49.9 11.3 26.7 54.3 96.3 17.6 131.5 72 1.05 4.05 0.6 3.76 7.1 1.74 0.42 0.71 152 2,150

44 106.1 84.9 24 7.71 10.16 48.9 11.28 26.5 54.25 96.3 17.5 127.9 71.2 1 3.99 0.56 3.65 7.1 1.54 0.42 0.67 151 2,100

44 107.3 85 24 8.2 10.2 49.05 11.28 26.5 54.3 96.3 17.5 127.9 72 1 4 0.56 3.65 7.1 1.58 0.42 0.71 151.3 2,100

5,000 6,906,340 3,538,000 208,700 4,000 213,800 3,015,200 9,800 157,600 220 50 12,200 759,670 17,980 213,000 307,000 52,000 70,000 600 918,000 40,000 299,000 2,510 660

220,000 749,999,091 304,895,701 5,026,790 32,620 2,175,948 148,558,205 110,738 4,196,275 11,940 4,815 213,700 98,611,015 1,291,797.50 214,500 1,227,290 31,020 260,420 4,260 1,476,590 16,800 205,860 379,894 1,405,250

220,000 -205,099,771 57,390,791.50 9,600 -27,288 -8,055,725 -1,943,875 26,250 -60,489,915 -248,230 125,500 1,258,250

INDUSTRIAL AC ENERGY 7.88 7.89 7.83 7.95 7.65 7.89 40,405,700 316,082,571 1.37 1.38 1.38 1.4 1.35 1.38 3,934,000 5,421,400 ALSONS CONS ABOITIZ POWER 26.4 26.45 26.5 26.65 26.45 26.45 1,555,400 41,241,215 1.18 1.19 1.15 1.21 1.13 1.19 375,150,000 442,665,000 BASIC ENERGY 29.95 30 29.9 31.05 29.9 29.95 978,800 29,579,470 FIRST GEN FIRST PHIL HLDG 75.5 75.55 75.55 75.65 75.5 75.55 62,630 4,732,645 293.8 294.8 293 294.8 291.4 294.8 127,740 37,543,670 MERALCO MANILA WATER 15.5 15.52 15.7 15.7 15.42 15.5 393,900 6,099,180 PETRON 3.72 3.73 3.75 3.76 3.7 3.73 1,882,000 7,036,810 12.44 12.8 12.8 12.8 12.3 12.8 153,600 1,930,660 PHX PETROLEUM PILIPINAS SHELL 22 22.05 21.9 22.1 21.7 22.05 659,900 14,517,460 10.3 10.32 10.26 10.36 10.26 10.32 226,600 2,332,466 SPC POWER 7.1 7.16 7.16 7.18 7.01 7.16 1,099,400 7,815,283 AGRINURTURE AXELUM 3.5 3.56 3.6 3.6 3.5 3.56 1,725,000 6,124,690 71 75.95 76.25 76.25 70.6 70.6 1,040 73,697 BOGO MEDELLIN 13.98 14.4 13.82 15.1 13.82 13.98 43,800 628,128 CNTRL AZUCARERA CENTURY FOOD 18 18.14 18.04 18.1 17.8 18.1 814,300 14,649,774 8.92 9 8.83 9.05 8.83 9 69,200 622,422 DEL MONTE DNL INDUS 7.32 7.34 7.35 7.36 7.25 7.32 328,300 2,400,938 EMPERADOR 9.94 9.95 10.1 10.1 9.95 9.95 256,100 2,557,030 68.15 68.45 68 68.5 67.6 68.45 266,000 18,202,801.50 SMC FOODANDBEV ALLIANCE SELECT 0.62 0.63 0.64 0.64 0.63 0.63 233,000 148,060 1.53 1.54 1.59 1.62 1.51 1.54 34,016,000 52,531,050 FRUITAS HLDG 51.5 51.95 51 51.9 50.25 51.5 96,880 4,963,370.50 GINEBRA JOLLIBEE 185.5 185.9 185 187 184.9 185.5 613,750 114,080,176 34 34.85 34 34.5 34 34.5 2,500 85,790 LIBERTY FLOUR 7.81 8.16 7.8 8.16 7.8 8.16 11,900 92,856 MACAY HLDG MAXS GROUP 6.85 6.91 6.7 6.94 6.7 6.91 233,300 1,608,421 0.415 0.42 0.415 0.43 0.4 0.415 36,040,000 15,060,000 MG HLDG SHAKEYS PIZZA 7.55 7.6 7.42 7.55 7.4 7.55 65,800 492,747 1.19 1.2 1.16 1.21 1.14 1.19 13,383,000 15,754,910 ROXAS AND CO 4.61 4.76 4.76 4.76 4.76 4.76 3,000 14,280 RFM CORP ROXAS HLDG 1.74 1.75 1.73 1.74 1.69 1.74 128,000 221,370 0.156 0.157 0.152 0.166 0.151 0.157 95,360,000 15,225,140 SWIFT FOODS 141.1 142 146 146 141.1 141.1 1,316,940 188,172,933 UNIV ROBINA VITARICH 0.93 0.94 0.93 0.94 0.91 0.94 2,236,000 2,075,380 2.25 2.28 2.23 2.28 2.23 2.28 8,000 18,140 VICTORIAS CEMEX HLDG 1.37 1.38 1.4 1.41 1.37 1.38 13,250,000 18,295,660 DAVINCI CAPITAL 6.84 6.96 6.82 7.1 6.8 6.9 349,300 2,420,717 13.4 13.88 13.2 13.88 13.2 13.88 285,300 3,859,592 EAGLE CEMENT EEI CORP 8.12 8.14 8.2 8.2 8.05 8.14 284,700 2,309,039 HOLCIM 6.39 6.4 6.57 6.57 6.38 6.39 430,700 2,765,156 7.48 7.5 7.7 7.74 7.45 7.48 1,415,800 10,710,387 MEGAWIDE PHINMA 10.3 10.4 10.3 10.4 10.3 10.4 15,000 154,700 1.36 1.37 1.25 1.37 1.25 1.36 2,295,000 3,065,110 TKC METALS 2.77 2.78 2.9 3.08 2.72 2.77 53,674,000 153,775,300 VULCAN INDL CROWN ASIA 1.79 1.82 1.78 1.79 1.76 1.79 84,000 150,230 2.31 2.32 2.3 2.35 2.3 2.31 364,000 846,530 EUROMED LMG CORP 4.72 4.98 4.72 4.72 4.71 4.71 36,000 169,810 4.32 4.64 4.52 4.52 4.31 4.31 32,000 141,620 MABUHAY VINYL 5.71 5.8 5.71 5.8 5.65 5.71 126,500 721,300 PRYCE CORP CONCEPCION 21.3 21.55 20.5 22.95 20.4 21.55 82,900 1,792,105 GREENERGY 3.12 3.13 3.03 3.15 3.01 3.13 20,841,000 64,155,010 12.7 12.74 12.86 13.04 12.5 12.7 879,500 11,250,864 INTEGRATED MICR IONICS 1.21 1.22 1.23 1.25 1.19 1.22 954,000 1,157,180 5.9 6 6.1 6.1 6.1 6.1 2,100 12,810 PANASONIC 1.49 1.5 1.53 1.54 1.5 1.5 1,133,000 1,708,570 SFA SEMICON CIRTEK HLDG 6.98 6.99 7.01 7.05 6.89 6.98 3,409,800 23,742,534

51,012,110 190,170 11,169,905 8,259,690.00 -3,121,855 -3,161,890 21,719,510 -645,254 141,120 -1,087,992 4,133,670 -209,320 -3,732,865 108,680 52,316 189,000 388,190 737,962 -1,601,020.50 1,386,450 2,068,875.50 -35,422,233 -44,181 -870,650 2,204,360 528,560 -47,551,356 77,630 150,400.00 -9,940 -1,804,300 1,061,881 -837,980 -342,716 -16,910 -2,446,120 -150,400 -914,765 1,431,580 1,475,864 -13,640 15,000 1,027,327

HOLDING & FRIMS ABACORE CAPITAL 1.33 1.34 1.29 1.39 1.28 1.33 264,023,000 349,946,460 8.7 9.22 8.78 9.24 8.72 9.23 20,200 179,192 ASIABEST GROUP AYALA CORP 809.5 818 803 818 801 818 253,560 205,979,495 43.15 44.3 43.2 44.6 43.15 43.15 1,428,300 62,312,255 ABOITIZ EQUITY 10.76 10.78 10.8 10.86 10.58 10.78 7,278,100 78,409,112 ALLIANCE GLOBAL AYALA LAND LOG 3.12 3.13 3.1 3.15 3.1 3.13 1,195,000 3,728,640 0.87 0.88 0.88 0.89 0.86 0.87 2,828,000 2,466,800 ANGLO PHIL HLDG ATN HLDG A 0.9 0.91 0.89 0.93 0.88 0.91 15,272,000 13,823,120 0.89 0.91 0.88 0.91 0.88 0.91 364,000 321,760 ATN HLDG B 5.42 5.45 5.3 5.45 5.3 5.42 700,700 3,792,667 COSCO CAPITAL DMCI HLDG 5.49 5.5 5.55 5.62 5.49 5.49 12,142,600 67,491,485 8.92 9 9.11 9.11 9 9 15,200 136,822 FILINVEST DEV 0.226 0.239 0.226 0.226 0.226 0.226 60,000 13,560 FORUM PACIFIC GT CAPITAL 562 566 561 570 561 566 197,300 111,468,605 3.74 3.79 3.88 3.88 3.8 3.8 15,000 57,400 HOUSE OF INV 68.3 68.7 68.45 68.7 67.6 68.7 991,080 67,790,283.50 JG SUMMIT KEPPEL HLDG A 5.26 5.69 5.69 5.69 5.69 5.69 400 2,276 1.38 1.39 1.4 1.45 1.35 1.39 13,652,000 18,812,270 LODESTAR LOPEZ HLDG 3.76 3.77 3.73 3.77 3.73 3.77 89,000 334,340 LT GROUP 14.94 15 14.7 15.5 14.52 15 2,906,300 43,660,166 0.51 0.53 0.52 0.53 0.51 0.53 82,000 42,120 MABUHAY HLDG METRO PAC INV 4.25 4.28 4.3 4.31 4.25 4.25 19,278,000 82,438,220 5.01 5.53 5.31 5.6 5 5.53 274,200 1,432,651 PACIFICA HLDG 1.19 1.2 1.19 1.2 1.1 1.19 998,000 1,149,160 PRIME MEDIA REPUBLIC GLASS 2.8 2.87 2.8 2.82 2.8 2.8 50,000 140,200 1.2 1.23 1.23 1.24 1.2 1.23 153,000 185,210 SOLID GROUP 311 315 312 315 311 315 120 37,510 SYNERGY GRID SM INVESTMENTS 1,067 1,078 1,055 1,095 1,052 1,078 375,190 405,384,155 126 127.4 127.1 127.8 126 126 127,100 16,104,506 SAN MIGUEL CORP SOC RESOURCES 0.84 0.85 0.86 0.86 0.82 0.85 195,000 160,760 2.06 2.49 2.5 2.5 2.49 2.49 11,000 27,490 SEAFRONT RES 138 139 138 139 138 139 3,130 435,040 TOP FRONTIER WELLEX INDUS 0.226 0.235 0.226 0.23 0.226 0.226 370,000 84,500 0.228 0.23 0.226 0.234 0.226 0.23 1,030,000 236,260 ZEUS HLDG

2,045,370 43,850 43,322,990 21,950,910 5,712,424 -21,840 17,200 856,734 93,334.00 50,200,130 36,973,489 69,500 116,640 -11,314,300 10,669,070.00 130,455,020 380,532 4,140 -

PROPERTY ARTHALAND CORP 0.67 0.68 0.69 0.69 0.67 0.68 787,000 532,790 7.81 8.33 8.38 8.38 7.71 8.34 3,100 25,497 ANCHOR LAND AYALA LAND 40.45 40.5 40.5 41.2 40.5 40.5 9,768,500 398,802,345 1.29 1.3 1.3 1.3 1.3 1.3 1,000 1,300 ARANETA PROP 32.95 33 32.8 33 32.8 33 612,400 20,170,045 AREIT RT BELLE CORP 1.59 1.61 1.65 1.65 1.58 1.61 774,000 1,231,900 0.96 0.97 0.95 0.97 0.95 0.96 2,629,000 2,506,310 A BROWN CITYLAND DEVT 0.78 0.8 0.78 0.8 0.78 0.8 13,000 10,180 0.154 0.155 0.151 0.154 0.15 0.154 4,820,000 737,330 CROWN EQUITIES 5.89 5.9 5.87 5.9 5.75 5.89 42,100 247,956 CEBU HLDG CEB LANDMASTERS 5.1 5.12 5.12 5.13 5.08 5.1 225,200 1,151,145 0.425 0.435 0.42 0.44 0.405 0.435 25,150,000 10,527,300 CENTURY PROP 0.345 0.36 0.345 0.36 0.345 0.36 540,000 188,500 CYBER BAY DOUBLEDRAGON 14.54 14.56 14.74 14.74 14.52 14.54 981,000 14,304,204 6.76 6.9 6.75 6.9 6.72 6.9 174,100 1,175,119 DM WENCESLAO 0.295 0.305 0.305 0.305 0.29 0.3 1,490,000 446,300 EMPIRE EAST EVER GOTESCO 0.095 0.098 0.1 0.1 0.091 0.098 990,000 97,070 1.21 1.22 1.21 1.22 1.19 1.22 9,097,000 11,016,180 FILINVEST LAND GLOBAL ESTATE 0.9 0.91 0.89 0.9 0.89 0.9 125,000 112,400 8990 HLDG 7.51 7.76 7.5 7.79 7.4 7.77 181,300 1,363,531 1.43 1.44 1.43 1.44 1.4 1.43 1,350,000 1,915,960 PHIL INFRADEV KEPPEL PROP 3.05 3.24 3.24 3.24 3.23 3.24 4,000 12,940 0.72 0.74 0.72 0.74 0.72 0.74 43,000 31,170 CITY AND LAND 3.9 3.94 3.9 3.97 3.88 3.9 8,916,000 34,944,000 MEGAWORLD MRC ALLIED 0.56 0.57 0.54 0.58 0.52 0.57 297,228,000 165,517,410 0.41 0.435 0.41 0.41 0.41 0.41 20,000 8,200 PHIL ESTATES 1.42 1.44 1.4 1.46 1.38 1.44 1,903,000 2,714,500 PRIMEX CORP ROBINSONS LAND 19.26 19.28 19.12 19.5 19.12 19.26 1,259,300 24,281,830 0.295 0.3 0.29 0.305 0.29 0.3 180,000 53,350 PHIL REALTY ROCKWELL 1.44 1.45 1.45 1.46 1.43 1.45 1,075,000 1,554,300 SHANG PROP 2.6 2.64 2.64 2.65 2.6 2.6 561,000 1,483,480 2.15 2.17 2.3 2.36 2.1 2.17 3,301,000 7,212,980 STA LUCIA LAND SM PRIME HLDG 38.1 38.15 37.55 38.4 37.5 38.1 8,475,700 322,649,060 4.02 4.05 4.05 4.05 4.02 4.03 34,000 137,200 VISTAMALLS 1.78 1.8 1.79 1.84 1.78 1.78 423,000 759,770 SUNTRUST HOME VISTA LAND 4.45 4.46 4.46 4.46 4.44 4.46 1,071,000 4,768,190

24,120 107,618,455 421,275.00 17,860 14,250 54,260 -49,750 239,384 19,600 550,690 -28,800 25,108 -39,760 2,210 13,624,690 3,994,910 -2,545,054 105,370 10,400 577,060 69,544,960.00 10,740 -961,420

SERVICES ABS CBN 12.7 12.78 12.5 12.8 12.32 12.7 206,600 2,580,254 6.88 6.9 6.69 6.93 6.59 6.9 5,128,300 34,831,476 GMA NETWORK MANILA BULLETIN 0.475 0.495 0.475 0.5 0.475 0.5 200,000 97,100 11.2 11.4 11.4 11.4 11.4 11.4 800 9,120 MLA BRDCASTING 2,038 2,050 2,002 2,050 2,002 2,038 49,990 101,809,790 GLOBE TELECOM PLDT 1,380 1,384 1,366 1,398 1,366 1,380 90,750 125,846,760 0.236 0.237 0.255 0.265 0.236 0.236 3,080,060,000 759,374,440 APOLLO GLOBAL CONVERGE 17.72 17.8 18.8 18.8 17.5 17.8 15,481,900 277,952,572 DFNN INC 5.62 5.69 5.98 6.29 5.62 5.62 11,889,300 70,874,544 17.1 17.12 15.62 17.1 15.42 17.1 99,807,900 1,648,046,964 DITO CME HLDG IMPERIAL 1.9 2.05 2.05 2.05 2.05 2.05 4,000 8,200 0.195 0.196 0.21 0.21 0.19 0.196 36,350,000 7,193,730 ISLAND INFO 2 2.03 2.03 2.03 2 2.03 56,000 113,160 JACKSTONES NOW CORP 3.45 3.47 3.53 3.53 3.41 3.47 4,057,000 14,094,060 0.425 0.43 0.44 0.445 0.405 0.425 60,340,000 25,400,550 TRANSPACIFIC BR 2.62 2.65 2.65 2.74 2.61 2.65 833,000 2,210,710 PHILWEB 2GO GROUP 8.35 8.4 8.3 8.55 8.28 8.4 80,900 673,590 14.72 15.38 15.4 15.4 15.4 15.4 1,900 29,260 ASIAN TERMINALS CHELSEA 4.63 4.64 4.66 4.75 4.5 4.63 1,992,000 9,232,240 CEBU AIR 50 50.05 49 50.2 48.5 50 395,900 19,726,780 124.1 124.5 125.9 126 123.6 124.5 892,530 111,263,423 INTL CONTAINER LBC EXPRESS 16.3 16.58 15.88 16.3 15.88 16.3 3,500 56,484 1 1.03 0.99 1 0.99 1 27,000 26,880 LORENZO SHIPPNG 5.99 6 6.2 6.2 6 6 3,562,500 21,597,719 MACROASIA METROALLIANCE A 3.19 3.2 3.39 3.39 3.11 3.19 2,745,000 8,781,900 2.86 3.34 3.34 3.34 3.34 3.34 1,000 3,340 METROALLIANCE B 6.49 6.65 6.6 6.66 6.49 6.49 37,500 246,957 PAL HLDG HARBOR STAR 1.41 1.42 1.44 1.44 1.4 1.41 994,000 1,401,130 1.45 1.53 1.53 1.53 1.53 1.53 50,000 76,500 ACESITE HOTEL DISCOVERY WORLD 5.88 5.9 5.6 6.2 5.6 5.9 5,874,400 34,492,724 WATERFRONT 0.54 0.55 0.53 0.55 0.52 0.55 6,988,000 3,659,780 600 660 600 600 600 600 40 24,000 FAR EASTERN U STI HLDG 0.415 0.42 0.405 0.425 0.4 0.42 5,160,000 2,128,400 4.45 4.59 4.4 4.5 4.4 4.45 23,000 102,210 BERJAYA 7.6 7.61 7.78 7.89 7.61 7.61 2,112,000 16,277,448 BLOOMBERRY PACIFIC ONLINE 2.02 2.1 2.02 2.05 2.02 2.05 52,000 106,540 1.73 1.75 1.72 1.77 1.72 1.75 377,000 655,450 LEISURE AND RES MANILA JOCKEY 2.11 2.18 2.18 2.18 2.18 2.18 4,000 8,720 2.76 2.78 2.79 2.83 2.7 2.78 8,176,000 22,409,570 PH RESORTS GRP 0.465 0.47 0.46 0.475 0.455 0.47 5,560,000 2,591,900 PREMIUM LEISURE ALLHOME 8.48 8.6 8.63 8.63 8.47 8.63 219,400 1,876,540 METRO RETAIL 1.42 1.44 1.42 1.44 1.41 1.43 1,474,000 2,087,500 38.95 39 39.4 39.4 38.3 38.95 1,554,200 60,699,645 PUREGOLD ROBINSONS RTL 57.5 57.8 57 59.4 56.9 57.5 18,583,290 1,062,310,861.50 101.8 102 103 103 101.8 102 8,980 918,142 PHIL SEVEN CORP 1.38 1.39 1.43 1.43 1.39 1.39 4,727,000 6,599,100 SSI GROUP WILCON DEPOT 17.98 18 17.98 18 17.82 18 1,274,100 22,927,776 0.465 0.47 0.46 0.47 0.45 0.465 2,690,000 1,244,700 APC GROUP EASYCALL 6.88 7.09 6.88 7.2 6.87 7.09 57,200 395,500 GOLDEN MV 437 450 450 450 450 450 200 90,000 5 5.25 5.1 5.1 5 5 16,800 84,370 IPM HLDG PAXYS 2.2 2.4 2.25 2.25 2.2 2.2 11,000 24,600 3.12 3.13 3 3.14 2.88 3.13 226,669,000 689,936,980 PRMIERE HORIZON 4.8 4.92 4.96 4.96 4.92 4.92 10,000 49,320 SBS PHIL CORP

6,731,820 -2,631,400 -3,215,750 -64,154,282 -431,329 -3,412,946 77,740 -1,553,260 -907,300 -57,500 96,060.00 11,558,230 10,642,045 -32,600 -7,189,572 35,250 -2,478,000 114,920 -801,650 -10,660,237 34,900 461,530 47,000 -582,613 204,480 -20,488,085 -119,463,201.50 235,426 1,263,980 19,682,838 34,850 3,332,280 -

MINING & OIL ATOK 7.2 7.21 7.25 7.4 7 7.2 498,700 3,609,637 -30,225 APEX MINING 1.57 1.58 1.58 1.59 1.56 1.58 2,005,000 3,160,060 296,910 0.0049 0.005 0.0051 0.0052 0.0047 0.005 21,311,000,000 106,263,000 -4,351,700 ABRA MINING 6.12 6.15 5.83 6.2 5.83 6.15 1,556,000 9,433,304 2,090,715 ATLAS MINING BENGUET A 3.02 3.19 3.2 3.2 3.1 3.19 77,000 241,140 2.91 2.99 2.99 2.99 2.92 2.95 98,000 288,170 -20,690 BENGUET B COAL ASIA HLDG 0.3 0.31 0.295 0.305 0.295 0.305 1,220,000 368,500 2.72 2.75 2.8 2.8 2.72 2.72 5,000 13,680 CENTURY PEAK 9.35 9.38 8.85 9.52 8.66 9.38 392,300 3,652,347 -42,635 DIZON MINES FERRONICKEL 2.61 2.62 2.66 2.69 2.6 2.61 6,120,000 16,105,140 -289,050 0.51 0.52 0.475 0.55 0.465 0.51 67,300,000 34,543,150 -868,400 GEOGRACE 0.154 0.155 0.156 0.158 0.154 0.155 18,860,000 2,937,140 LEPANTO A LEPANTO B 0.156 0.157 0.159 0.159 0.157 0.157 2,940,000 463,460 0.01 0.011 0.01 0.011 0.01 0.01 64,500,000 654,300 MANILA MINING A 0.01 0.011 0.011 0.011 0.01 0.01 3,400,000 34,600 8,000 MANILA MINING B MARCVENTURES 1.44 1.45 1.43 1.48 1.4 1.45 1,151,000 1,651,230 -41,290 2.68 2.75 2.74 2.75 2.67 2.75 264,000 710,750 -2,750 NIHAO NICKEL ASIA 5.69 5.7 5.6 5.73 5.6 5.69 13,902,700 79,006,161 44,455,069 OMICO CORP 0.43 0.44 0.46 0.46 0.42 0.45 210,000 89,800 1.12 1.14 1.09 1.17 1.07 1.14 7,993,000 9,024,440 226,640 ORNTL PENINSULA PX MINING 4.51 4.52 4.32 4.53 4.25 4.51 765,000 3,428,570 -8,940 12.88 12.92 12.82 13.18 12.8 12.88 1,549,700 20,035,508 -5,466,640 SEMIRARA MINING 0.01 0.011 0.011 0.011 0.01 0.011 370,800,000 3,781,400 536,000 UNITED PARAGON ACE ENEXOR 22 22.5 21.35 23.5 21.05 22.5 1,185,600 26,501,180 -4,919,765 0.013 0.014 0.014 0.014 0.013 0.013 103,300,000 1,395,200 ORNTL PETROL A 0.013 0.015 0.014 0.015 0.013 0.014 13,400,000 185,700 ORNTL PETROL B PHILODRILL 0.014 0.015 0.014 0.015 0.014 0.014 380,100,000 5,347,600 -109,200 9.25 9.31 9.02 9.5 9 9.31 914,600 8,489,988 31,165.00 PXP ENERGY PREFFERED HOUSE PREF B 100 100.5 101 101 100 100 5,700 570,975 80,500 100 101.9 101 101 101 101 180 18,180 18,180 HOUSE PREF A AC PREF B1 516.5 535 528 528 516.5 516.5 30 15,610 101 104.5 101 101 101 101 200 20,200 ALCO PREF B 102.1 104 102.1 102.1 102.1 102.1 500 51,050 CPG PREF A DD PREF 100.8 101 101 101 101 101 10,950 1,105,950 -1,105,950 108 110.8 111 111 108 108 4,410 477,236 54,050 FGEN PREF G GTCAP PREF B 1,030 1,032 1,030 1,030 1,030 1,030 1,000 1,030,000 100.5 101 101 101 100.5 100.5 6,220 625,395 MWIDE PREF 98.65 100 100 100 100 100 3,130 313,000 MWIDE PREF 2A MWIDE PREF 2B 100.7 101 101 101 101 101 800 80,800 80,800 106.3 106.7 106.7 106.7 106.7 106.7 100 10,670 PNX PREF 3B 1,013 1,019 1,016 1,019 1,012 1,019 310 314,460 101,900 PNX PREF 4 PCOR PREF 3B 1,110 1,129 1,110 1,129 1,110 1,129 700 779,940 169,260 79.5 80.4 80.45 80.45 79.5 79.5 310 24,687.50 SMC PREF 2C 76.5 77.5 77 77 77 77 440 33,880 33,880 SMC PREF 2E SMC PREF 2F 77.65 79 77.7 79.3 77.65 77.65 22,940 1,801,757 77 77.5 77 77 77 77 975,120 75,084,240 SMC PREF 2H SMC PREF 2I 77 78 77 77 77 77 14,400 1,108,800 76.5 76.75 76.4 76.8 76.2 76.8 26,820 2,052,684 SMC PREF 2J 76.25 76.45 76.25 76.45 76.25 76.45 2,750 210,037.50 SMC PREF 2K PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 12.34 12.5 12.5 12.5 12.5 12.5 90,500 1,131,250 0 6.6 6.66 6.5 6.65 6.49 6.65 865,100 5,674,765 783,290 GMA HLDG PDR WARRANTS LR WARRANT 0.91 0.93 0.91 0.94 0.88 0.91 262,000 235,900 - SMALL & MEDIUM ENTERPRISES ALTUS PROP 23 23.2 22.3 23.8 21.7 23.2 1,123,400 25,833,035 -1,681,340 3.09 3.1 3.01 3.11 3 3.1 2,341,000 7,106,740 18,300 ITALPINAS KEPWEALTH 6 6.08 5.96 6.1 5.95 6.1 26,700 159,558 3.4 3.54 3.07 4.56 3.07 3.54 268,000 992,340 MAKATI FINANCE 7.01 7.02 7 7.1 6.85 7.01 14,004,100 97,679,771 -75,707 MERRYMART EXHANGE TRADE FUNDS FIRST METRO ETF 106.6 106.7 106.5 107.8 106.5 106.7 11,350 1,212,876 64,166

www.businessmirror.com.ph

CIC income drops by half due to lockdowns last year

By VG Cabuag

@villygc

oncepcion Industrial Corp. (CIC), known for its line of refrigerators and air-conditioning units, on Wednesday said its income fell by half last year to P471 million from the previous year's P947 million. Sales fell 29 percent to P10.8 billion, from last year's P15.06 billion.

Including its other brand Midea, the company's overall sales fell 24

percent, it said. CIC said both the consumer and commercial markets slowed down during the early parts of 2020 as a result of the government-imposed lockdown measures to control the spread of Covid-19. “Our focus throughout 2020 was to ensure our readiness as an organization even as we put temporary measures to temper the impact of very weak demand. We continue to make investments in re-energizing our brands, the right technology platforms and innovation as we open the doors to better days ahead in 2021,” Raul Joseph A. Concep-

cion, the company's chairman and CEO, said. The company said its second half figures showed signs of recovery mainly in the consumer segment. Sales in the second half of the year still fell 13 percent from the previous year while profits grew 5 percent year-on-year to P682 million. “Second half performance was impacted by softer demand in the air-conditioning segment as well as the commercial segment affected by the slowdown in construction. Domestic refrigerators and consumer appliances showed positive signs of recovery,” it said.

Pandemic cuts SBMA operating revenue By Henry Empeño Correspondent

ubic Bay Freeport—The economic slowdown brought about by the Covid-19 pandemic last year took its toll on the earnings of the Subic Bay Metropolitan Authority (SBMA), which reported more than half a billion losses in operating revenue in 2020. Citing the agency’s 2020 consolidated year-end report, SBMA Chairman and Administrator Wilma T. Eisma said the Subic agency lost P530.31 million in operating revenue last year, a reversal of the P3.73 billion it recorded in 2019. Eisma also said the Subic agency posted a total of P1.69 billion in earnings before interest, tax, depreciation and amortization (EBITDA) at the end of 2020, compared to the P2.17 billion it recorded at the end of 2019. SBMA’s EBITDA for 2020 was lower than the 2019 record by P486.73 million, or 22.35 percent. Aside from this, Eisma said the SBMA was affected by higher bad debts last year—from P32.09 million in 2019 to P56.26 million in 2020, or an increase of 75.3 percent—as locator-companies struggled to grow their revenue during the Covid-19

lockdown. “Subic locked down for close to 4 months early last year because of Covid-19. That means factories were closed, stores were closed, and there was not much source of income to go around. Moreover, the SBMA was forced to forego much of its collections in the meantime, because there was hardly anything to collect,” Eisma said. She added the economic slowdown “critically diminished the income-generating capacity of registered businesses and sent ripples of disruption across the Freeport that affected even the SBMA income.” In terms of operating expenses, meanwhile, the agency was able to save P67.74 million in 2020, as it spent only P1.45 billion, which was 4.45 percent lower than its expenses of P1.52 billion in 2019. The SBMA Finance Group also reported that the agency’s operating income in 2020 hit only P1.75 billion, which was 20.93 percent lower than the P2.21 billion in 2019, or a difference of P462.56 million. Eisma said the agency expects its finances to somehow bounce back this year, as more Freeport firms increase operations under strict health safety protocols imposed by the In-

8990 Holdings Inc. lists Series B preferred shares

Photo shows (from left, by row) 8990 Holdings Inc. Chairman Emeritus Luis N. Yu Jr.; PSE COO Roel A. Refran; 8990 Holdings Inc. Chief Finance Officer Roan B. Torregoza; 8990 Holdings Inc. Chairman Mariano D. Martinez Jr.; PSE President and CEO Ramon S. Monzon and PSE Issuer Regulation Division Head Marigel B. Garcia; China Bank Capital Corp. President Ryan Martin L. Tapia; PSE General Counsel Veronica V. Del Rosario; Securities Clearing Corporation of the Philippines COO Renee D. Rubio; and PSE Capital Markets Development Division Head Mark Frederick V. Visda. Contributed Photo

990 Holdings, Inc. (stock symbol: HOUSE) led a bell ringing ceremony at the Philippine Stock Exchange (PSE) on Wednesday to mark the company’s listing of P 3.7-billion Series B preferred shares. The proceeds from this follow-on offering will be used to finance obligations secured for operations and construction activities of its subsidiaries’ housing projects. The listing ceremony was attended virtually by PSE Board of Directors led by PSE Chairman Jose T. Pardo and 8990 Holdings, Inc. Directors and Officers. On-site for the bell ringing event were 8990 Holdings, Inc.

Chairman Emeritus Luis N. Yu Jr., 8990 Holdings, Inc. Chairman Mariano D. Martinez Jr., 8990 Holdings Inc. Chief Finance Officer Roan B. Torregoza, China Bank Capital Corp. President Ryan Martin L. Tapia and PSE Management led by PSE President and CEO Ramon S. Monzon. In his speech, Mr. Monzon lauded 8990 Holdings Inc.’s growth story and expansion plans. “I am optimistic that with 8990’s strategy of growing its reach, diversifying its product offerings and exploring innovative financing products, the company will be able to help more Filipinos have homes they can call their own.”

ter-Agency Task Force on Emerging Infectious Diseases (IATF). Last month, the SBMA approved the Economic Relief Assistance (ERA) Payment Scheme that gave Subic locators up to 36 months to amortize bills that remained unpaid since the pandemic hit in March 2020. Eisma said the measure was intended to help Subic businesses get back on their feet. “We are now trying to open up the

mutual funds

economy here little by little to curtail the lingering impact of the pandemic, and we’re giving every opportunity for our locators to normalize operations,” Eisma said. “I am wishing for bigger (financial) numbers this year, and we are getting back on track every little step that we can take forward, that’s why we always stress that we maintain safety protocols so we can get more industry sectors up and running." February 10, 2021

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 224.36 -7.79% -8.5% -1.01% -1.26% ATRAM Alpha Opportunity Fund, Inc. -a 1.3203 4.29% -6.78% 4.87% 0.56% ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.1001 -8.93% -12.43% -2.18% -1.05% Climbs Share Capital Equity Investment Fund Corp. -a 0.7847 -7.33% -7.69% n.a. -2.39% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.711 -13.54% n.a. n.a. -4.13% First Metro Save and Learn Equity Fund,Inc. -a 4.8737 -4.85% -6.7% -0.25% -1.37% First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.7279 -10.91% -9.7% -5.71% -4.2% MBG Equity Investment Fund, Inc. -a 98.84 2.84% -5.54% n.a. -3.04% PAMI Equity Index Fund, Inc. -a 46.2854 -5.86% -6.61% 0.69% -1.2% Philam Strategic Growth Fund, Inc. -a 482.8 -5.85% -6.59% -0.1% -1.26% Philequity Alpha One Fund, Inc. -a,d,5 1.0736 7.34% n.a. n.a. -2.16% Philequity Dividend Yield Fund, Inc. -a 1.1596 -6.66% -6.14% 0.72% -0.74% Philequity Fund, Inc. -a 34.4158 -5.6% -5.95% 1.43% -1.02% Philequity MSCI Philippine Index Fund, Inc. -a 0.9011 -8.57% n.a. n.a. -1.3% Philequity PSE Index Fund Inc. -a 4.735 -5.5% -6.11% 1.47% -1.17% Philippine Stock Index Fund Corp. -a 792.33 -5.3% -5.98% 1.41% -1.16% Soldivo Strategic Growth Fund, Inc. -a 0.713 -9.99% -9.94% -2.67% -0.82% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.5823 -10.32% -8.14% -0.15% -1.15% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.9066 -5.58% -6.3% 1.23% -1.21% United Fund, Inc. -a 3.2938 -6.42% -5.22% 2% -0.76% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 106.3391 -5.26% -5.76% 2.14% -1.13% Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b $1.3281 31.82% 6.42% 11.13% 10.41% Sun Life Prosperity World Voyager Fund, Inc. -a $1.7703 24.73% 11.51% n.a. 5.83% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.6672 8.51% -3.49% -0.07% -0.08% ATRAM Philippine Balanced Fund, Inc. -a 2.2656 7.48% -2.65% 1.78% -0.87% First Metro Save and Learn Balanced Fund Inc. -a 2.6017 1.13% -2.18% 0.45% -0.96% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1964 -10.81% n.a. n.a. -1.11% NCM Mutual Fund of the Phils., Inc. -a 1.9648 1.38% -0.45% 2.35% 0.04% PAMI Horizon Fund, Inc. -a 3.7612 1.3% -1.33% 1.55% -0.71% Philam Fund, Inc. -a 16.8259 1.27% -1.39% 1.49% -0.65% Solidaritas Fund, Inc. -a 2.0821 -0.18% -2.5% 1.22% -0.57% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.5546 -5.01% -4.12% 0.37% -0.52% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 1.0142 1.86% n.a. n.a. -0.82% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.9393 -2.61% n.a. n.a. -1.04% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.9228 -3.89% n.a. n.a. -1.1% Sun Life Prosperity Dynamic Fund, Inc. -a 0.8867 -5.42% -4.69% -0.2% -0.11% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03882 0.44% 3.13% 1.87% -0.77% PAMI Asia Balanced Fund, Inc. -b $1.189 15.15% 4.07% 7.21% 3.37% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.7079 17.7% 8.58% 10.31% 4.32% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.2216 8.62% 4.54% n.a. 1.62% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 371.73 3.71% 3.29% 2.79% 0.18% ATRAM Corporate Bond Fund, Inc. -a 1.9042 -0.16% 0.41% 0.25% 0.21% Cocolife Fixed Income Fund, Inc. -a 3.2188 2.77% 4.34% 4.71% 0.13% Ekklesia Mutual Fund Inc. -a 2.2971 2.83% 2.92% 2.31% 0.05% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4493 3.72% 3.39% 2.14% -0.16% Philam Bond Fund, Inc. -a 4.6376 5.84% 4.95% 2.99% 0.06% Philam Managed Income Fund, Inc. -a,6 1.3234 5.61% 4.48% 2.74% 0.17% Philequity Peso Bond Fund, Inc. -a 3.9903 5.57% 4.55% 2.78% -0.27% Soldivo Bond Fund, Inc. -a 1.0386 7.34% 4.4% 2.51% -0.33% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.2044 4.1% 4.7% 3.38% -0.05% Sun Life Prosperity GS Fund, Inc. -a 1.7491 3.22% 3.95% 2.73% -0.34% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $485.12 3.05% 3.06% 2.77% 0.26% ALFM Euro Bond Fund, Inc. -a Є219.46 -0.45% 0.98% 1.28% 0.13% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2662 4.46% 4.08% 2.79% -1.11% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0264 1.54% 2.11% 1.59% -0.75% PAMI Global Bond Fund, Inc -b $1.0884 -1.51% 1.08% 0.16% -0.39% Philam Dollar Bond Fund, Inc. -a $2.5278 3.64% 4.81% 3.19% -0.31% Philequity Dollar Income Fund Inc. -a $0.0625621 3.05% 3.26% 2.37% 0.39% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.2076 -1.1% 2.69% 1.97% -0.5% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 130.01 2.99% 3.33% 2.57% 0.15% First Metro Save and Learn Money Market Fund, Inc. -a 1.0491 2.28% n.a. n.a. 0.1% Sun Life Prosperity Money Market Fund, Inc. -a 1.2986 2.37% 2.94% 2.6% 0.15% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0537 1.4% 1.78% n.a. 0.12% Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 1.1774 n.a. n.a. n.a. 4.23% Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $0.99 -1% n.a. n.a. 1.02% 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."

Envoys&Expats BusinessMirror

Thursday, February 11, 2021

www.businessmirror.com.ph

SFA Locsin to Asean: Build back better, healthier in 2021

ECRETARY of Foreign Affairs (SFA) Teodoro L. Locsin Jr. called on the region’s foreign ministers to “build back better and healthier in 2021,” as they held their first meeting for the year. During the Asean Foreign Ministers’ Retreat held via video conference late in January, Locsin announced that the Philippines will contribute $100,000 to the Asean Covid-19 Response Fund (ACRF). Acting Undersecretary Elizabeth P. Buensuceso—the Philippines’s Leader to the Asean Senior Officials’ Meeting—earlier proposed to tap the ACRF for the procurement of vaccines and medical supplies, and even the training of health personnel, as well as other frontliners. “We must take the challenges of

2020 in stride and strive to build back better, healthier, and more prosperous societies through deeper engagements on vital issues uniting [the region],” the secretary said. “We must maintain the momentum of our engagements in 2020 into 2021, particularly in our efforts to respond to the challenges of [the pandemic],” the country’s top diplomat added. As the first meeting of Asean Foreign Ministers for the year under the chairmanship of Brunei Darussalam, Locsin expressed support for the said country as the new Asean

HE Philippines and the European Union (EU) have recently reinforced their engagement with the activation of the first-ever Subcommittee on Good Governance, Rule of Law and Human Rights under the new Partnership and Cooperation Agreement (PCA). The launch underscored the respect of human rights being an essential element of the PCA, as laid down in the Universal Declaration of Human Rights and relevant international human-rights instruments, to which the EU and its member-states, as well as the Philippines, are parties. The subcommittee is the formal structure to share views and concerns on the aforementioned issues. Both the EU and the Philippines reaffirmed their commitment to the promotion and protection of human rights, while recognizing the need for further

action on a number of humanrights issues. The EU welcomed the joint programme between the Philippines and the United Nations, following the adoption by consensus of Resolution 45/33 at the last session of the Human Rights Council and the Philippines Government’s commitment to its operationalization. The bloc encouraged the Philippines to continue its constructive engagement and address the issues raised in the report of the UN High Commissioner on Human Rights at the 44th session of the Human Rights Council. It anticipated the tangible progress on human rights, and stands ready to support the implementation of the joint programme and its objectives, notably through the Governance in Justice II, or GO JUST II.

Accountability mechanisms

A K E Y topic d i sc u s se d w a s

SECRETARY Teodoro L. Locsin Jr. at the Asean Foreign Ministers’ Retreat DFA

chair. He commented on the theme “We Care, We Prepare, We Prosper” as a fitting anchor for regional efforts in the service of the region’s citizens, as well as in strengthening its mechanisms and preparedness to hurdle challenges. The SFA also recognized Asean external partners, and said they all greatly contributed to the bloc’s response and recovery versus the pandemic. He said the Philippines is now

on the third phase of its action plan against the health crisis, involving a strategy that combines response and recovery by a gradual opening of the economy with the least risk to public health. On the South China Sea/West Philippine dispute, Locsin said the Philippines will press harder for the completion of the second reading of the Single Draft Negotiating Text of the negotiations on the Code of Conduct. DFA

EUROPEAN External Action Service’s Deputy Managing Director Paola Pampaloni EU IN THE PHILIPPINES

strengthening accountability and investigative measures—specifically, in the context of the AntiIllegal Drug Campaign, as well as the issue of the death penalty, which the EU opposes. Referring to the UN High Commissioner’s report, it called on the Philippines to address extrajudicial killings, provide remedies for victims, and hold perpetrators accountable. T he Phi lippines stated its domestic accountability mechanisms are functioning. Nevertheless, efforts are being made to further strengthen national institutions and procedures in order to advance the fight against impunity. For one, the review panel on cases related to the anti-illegal drug campaign had begun its important work. The EU looked forward to tangible progress in this connection. Senator Leila M. de Lima’s case was also discussed. The bloc explained its

new Rule of Law Mechanism addressing the rule of law situation within its region. Freedom of opinion and expression, media and information were discussed at length— including the cases of journalists and media workers such as Maria Ressa. Both the EU and the Philippines recognized their obligations to take action to respect, protect and promote these freedoms. Acknowledging that freedom of association and assembly, as well as an enabling civic space are crucial components of any democ rac y a nd key bu i ld ing blocks for the successful implementation of the 2030 Agenda, both parties agreed on the need to acknowledge, protect humanrights defenders and enable their work in accordance with the UN Declaration on Human Rights Defenders.

Pakistan continues supporting Kashmiri quest for self-determination

T is a historical fact that India illegally occupied Jammu and Kashmir by landing its troops in Srinagar on October 27, 1947, in total violation of the Partition Plan of the Indian Subcontinent and against the wishes of the Kashmiris. The people of both territories strongly resisted India’s illegal occupation of their homeland and launched a movement to liberate it from the Indian yoke. Their resilience forced India to seek the help of the world community to get rid of the tough situation. It approached the United Nations Security Council on January 1, 1948, and the world body—in its successive resolutions—nullified the Indian invasion and called for the holding of an impartial plebiscite under its supervision to allow the Kashmiri people to decide their fate by themselves. Unfortunately, these UN resolutions and the pledges made by Indian leaders remain unfulfilled, even after the passage of several decades. The people of Indian Illegally Occupied Jammu and Kashmir (IIOJK)

intensified their struggle for freedom in 1989 and came to the streets to secure their right to self-determination. Indian rulers responded with brute military might, but could not subdue the brave Kashmiris. The latter added a new dimension to their freedom movement while hitting the streets in thousands during mass uprisings in 2008, 2009, 2010 and 2016. However, Indian forces’ personnel continued using brute force against the peaceful demonstrators and killed hundreds of them. Now, the Indian brutalities in IIOJK have increased manifold since August 5, 2019, as Indian troops martyred 305 innocent Kashmiris until December 31, 2020, while thousands others—including Hurriyat leaders and activists—remain lodged in different jails. Prime Minister Imran Khan, in his virtual address to the UN General Assembly in September 2020, drew the world’s attention to the worsening humanitarian crisis in IIOJK after Narendra Modi’s government’s illegal move on August 5, 2019. The illegal and unconstitutional actions

E&E EXCLUSIVES

IN HER MAJESTY’S HEALTH-CARE SERVICE:

Nurse is shining exemplar of PHL’s top-caliber medical care By Mike Policarpio

‘I

PHL, EU uphold good governance, rule of law, human rights

FOREIGN Affairs Assistant Secretary Jaime Victor B. Ledda EU IN THE PHILIPPINES

taken by Modi-led fascist Indian government in IIOJK on and after the said date have put the peace of the entire world at stake. Apart from imposing unrelenting military siege in IIOJK, the Modi regime has extended several federal laws and introduced new domicile rules in the territory. It has granted domicile status to thousands of non-Kashmiri Hindus—including some Indian Administrative Service officers—in gross violation of the UN resolutions and international law. The BJP-led communal government is replacing the Muslim names of important places and departments with Hindu names, and plans to construct 50,000 temples to “Hinduanize” IIOJK. It has initiated the process of delimitation of Lok Sabha and assembly constituencies in the region with an aim to give more seats to Hindu-dominated areas of Jammu division. The basic objective behind all these unilateral illegal measures is to convert IIOJK’s Muslim majority into a minority by settling

Indian Hindus in large numbers. It is also aimed at damaging the essence of the UN resolutions on the Kashmir dispute and affect the results in India’s favor if New Delhi is compelled to hold a plebiscite in Jammu and Kashmir in the future. The observance of the Kashmir Solidarity Day conveys a clear message to India that it would have to recognize the Kashmiris’ right to self-determination as guaranteed by the UN resolutions. It also sends a message to the world body to fulfill its commitments of holding a plebiscite in Jammu and Kashmir for a peaceful resolution of the dispute. In view of the actions of Modi’s regime to change the demography and disputed status of IIOJK, the solution has become more imperative for ensuring regional as well as global peace. Showing solidarity with the IIOJK people, Pakistanis and their government send their messages loud and clear to the Kashmiris that they are not alone in their fight for the noble cause of freedom. Press Section, Embassy of Pakistan-Manila

N this pandemic, Filipinos shine...” Thus declared Charito Leonardo-Romano, RGN, BEM, a Filipina staff nurse working at the Arbrook House Care Home in Esher, Surrey, England. Early this year, she provided much-needed inspiration to fellow health-care professionals back home, as her outstanding work during the pandemic was recognized by no less than Queen Elizabeth II. Romano, who originally hailed from Cabanatuan City, Nueva Ecija, and is a Bachelor of Science in Nursing alumna of the province’s Wesleyan University-Philippines, was named one of the medalists of the Order of the British Empire in its latest New Year’s Honours List. The commendation was first announced by UK’s Ambassador Daniel Pruce, who congratulated our compatriot for helping preserve the said institution’s immaculate slate from the contagion of the coronavirus disease 2019 (Covid-19). Romano leads an illustrious roster of Filipinos who recently made a mark in the European country’s health-care system. Minnie Klepacz was also bestowed the British Empire Medal in October 2020, while May Parsons holds the distinction as the nurse who administered the first Covid-19 vaccine to an elderly British patient. Flashback to 2019, nurse Joy Ongcachuy was vested with the Order of the British Empire honor for attending to the victims of the London Bridge terror attack. Despite her hectic work schedule, Romano—a mother of three whose entire family resides with her in the UK—was gracious to accord the Envoys&Expats with this interview, where she also shared a snapshot of her life in the British isles. ENVOYS&EXPATS: The entire Philippines celebrates your recognition. How were you informed about it, and what was your initial reaction? CHARITO LEONARDO-ROMANO, RGN, BEM: I received an e-mail inquiring if I am agreeable that I was being nominated to receive a medal on the New Year Honours list, and that I needed to signify by midnight of that day. I was in disbelief—but who am I not to agree to that recognition? It’s really overwhelming and humbling, and I feel honored to be nominated and to receive the medal from the Queen’s Honours List. You don’t get [such an] award every day; and as a Filipino nurse, it means a lot not only to me, but to our country. It also goes to show the UK is really recognizing the work of more Filipino nurses and frontline workers here. It’s truly an honor to receive the recognition. It must have been quite a journey becoming a nurse in the UK. How has it been so far? I went to the UK in 2002 to work for the elderly in a care home. I registered as a nurse in 2004 after giving birth to my daughter. It went all well. I tried to transfer and work in a hospital, but I kept getting pregnant! (Before coming to the UK, I had difficulty conceiving, but things changed when my husband joined me here. People say it’s because of the Thames’ water. Finally, I have three beautiful children!) Since then, I promised to stay in a care home. I fell in love with my job while at the same time, I

NOT exactly with her medal yet, but nurse Charito Leonardo-Romano, RGN, BEM celebrated her recent honor from the British government.

ROMANO (center) with her colleagues

THE nurse exemplifying the kind of care Filipinos like her are known for worldwide.

looked after my growing family. In 2018 I transferred to Arbrook House, a care home under BUPA (formerly the British United Provident Association) looking after elderly. We have 42 beds, and our residents range from elderly residential to specialization of palliative care. Your thoughts about overseas Filipinos being recognized for their outstanding service by foreign governments. It raises not only the flag of our country, but the credibility of Filipino nurses and Filipino frontline workers working in the UK. It was truly remarkable that the British government recognizes the hard work and dedication of most Filipino workers. It only shows the diversity of this [European] country. Just to update: Until now, I haven’t received the actual award yet because of the lockdown. Local events and gatherings are still not allowed, so my award is still “in paper;” there’s no specific date as to where and when the medal will be given. What do you feel is the “plus-factor” that Filipinos possess in caring for others? In this pandemic, Filipinos shine. Most Filipino health-care workers show how hard we work. The health crisis shows how truly Filipino workers don’t submit to hardships. We continue working. We choose to risk our lives, and we choose to continue serving others while risking our own health. It shows how resilient Filipinos are: We are able to withstand and recover quickly from difficult conditions and situations. Your message to your family and kababayans in the Philippines. Continue to be resilient; continue to fight in these difficult times. Be strong, and it will soon pass in God’s grace. Support our politicians who are trying their best to support our health-care system, and be part of being a good version of our community. Be safe, stay safe, and try to follow government guidelines to minimize the risk of contagion within our communities. Mabuhay po tayo!

B4 Thursday, February 11, 2021

Banking&Finance BusinessMirror

Bankers Association supports new ATM fee-charging model T

By Tyrone Jasper C. Piad

@Tyronepiad

HE Bankers Association of the Philippines (BAP) threw support behind the memorandum of the Bangko Sentral ng Pilipinas (BSP) about the new charging model for automated teller machine (ATM) transactions.

Beginning April 7, all banks will be adopting acquirer-based ATM feecharging principle following the BSP mandate. This scheme will charge cardholders for balance inquiry or fund withdrawal based on the fees imposed for other banks by ATM operators. Currently, banks follow issuerbased method: the charges are set by the issuing bank and they apply even though cardholders transact

with another ATM owner. “We are appreciative of the BSP’s move to adopt this pricing philosophy that is market driven and customer-centered,” BAP Managing Director Benjamin P. Castillo said in a statement on Wednesday. “This policy promotes competition and efficiency in the banks’ effort to deliver better services to the banking public.” Castillo assured consumers that

they will continue to enjoy free ATM services for transactions completed via their respective banks. In addition, he said “cardholders who choose to transact using an ATM of another bank will still have an option to proceed or not to proceed with his or her transaction mindful of the ATM fee that will be charged.” Several banks have already released advisories regarding this new ATM fee charging scheme. The Bank of the Philippine Islands (BPI) said that BPI debit card holders can continue using BPI ATM terminals for free. For non-BPI card holders, transaction fees may vary. “The withdrawal fee shall be automatically added to the amount withdrawn,” BPI said. “The balance inquiry fee will be shown as a separate debit amount, which will be reflected in your SOA [statement of account] on the day the transaction was made.” The Ayala-led bank will charge P15 for withdrawal transactions and P1.50 for balance inquiry for other

Batangas-based bank now part of UnionBank

local banks’ ATMs. BDO Unibank Inc. is encouraging its clients to use its over-4,000 ATM terminals so they can transact without incurring additional fees. “Using your BDO card at non-BDO ATMs will incur fees which may vary depending on the bank,” the Sy-led bank said. According to its website, nonBDO clients will be charged with P18 for withdrawal and P2 for balance inquiry. Metropolitan Bank & Trust Co., meanwhile, is charging non-bank clients with P18 and P2 per cash withdrawal and balance inquiry, respectively. “Cash withdrawal and balance inquiry transactions made using your DBP [Development Bank of the Philippines] ATM card at other banks’ ATM will now be charged a transaction fee, which may vary depending on the ATM terminal being used, as set by the other bank (acquiring bank),” state-run DBP said in an advisory.

Surging inflation may force Fed to use YCC

HE Federal Reserve is at risk of getting schooled in a classic adage: Be careful what you wish for. Daniel Tenengauzer, head of markets strategy at Bank of New York Mellon Corp., is warning that if inflation gets hotter than the Fed’s new policy is aiming for, it may trigger widespread bond selling that ripples throughout other markets. That may force the central bank to adopt a tool to cap long-term yields—known as yield-curve control, or YCC, he says. The latest reading of consumer prices to be released Wednesday is supposed to show a still tepid pace of inflation, and the Fed’s preferred measure holds well below 2 percent. Even so, U.S. bond-market proxies of future inflation this week have accelerated to the fastest pace since 2014 as traders eye the prospects of more fiscal stimulus and an improving U.S. vaccine rollout. And 30-year Treasury yields eclipsed 2 percent this week for the first time since February 2020. “A meaningful upside surprise in realized inflation may, therefore, turn out to be a double-edged sword,” Tenengauzer wrote in a research

Cars pass by the US Federal Reserve building in Washington, D.C. A Bank of New York Mellon Corp. executive believes a surging inflation may force the Fed to resort to yield-curve control, or YCC. Bloomberg News

note. “While a 3 percent year-overyear CPI inflation overshoot in 2021 would be exactly what the Fed needs to claim ‘mission accomplished’, an ensuing duration selling may trigger a broader market reaction.” Duration risk in the marketplace is also near record highs, after years of near-zero rates and historic debt issuance—which leaves both bonds and stocks uniquely vulnerable if

yields rise sharply. The US 10-year breakeven rate, the yield difference between the benchmark Treasury note and its inflation-protected counterpart known as TIPS, touched as high as 2.216 percent Monday. TIPS are tied to consumer prices, which have historically exceeded the inflation the Fed targets—the personal consumption expenditure index—by about 40

basis points. So the current breakeven rates still imply the Fed will miss its 2 percent target on average over the next 10 years. Under a new policy framework adopted last year, the Fed wants an average inflation rate of 2 percent over time—which means it could tolerate a higher one for a while. For 2021, headline CPI will have to be at least 3 percent for the Fed to consider hiking its policy rate, leaving room for additional duration sell-off, Tenengauzer wrote. January’s measure is projected to show consumer prices climbed last month at a 1.5 percent annual pace, the fastest since March, according to a Bloomberg survey of economists. The Fed, which after pondering yield-curve control, or yield caps, last year ultimately backed away from the policy. The central bank continues to buy $80 billion in Treasuries a month as part of its bondbuying programs. “Moreover, before Federal Reserve officials signaled YCC, we think higher bond yields must be painful enough to trigger financial market distress,” Tenengauzer said. Bloomberg News

Customs boarding officers assured of Covid vaccine By Bernadette D. Nicolas

OARDING officer of the Bureau of Customs (BOC) were assured by Finance Secretary Carlos G. Dominguez III they will be prioritized in the country’s vaccination program. In his message during the BOC’s 119th Founding Anniversar y, Dominguez also expressed confidence the agency will be efficient in facilitating the entry of Covid-19 vaccines that are arriving “in the next few weeks.” “Despite logistical restrictions, the Bureau prompted immediate release of containers to ensure the free-

flowing of goods. I am sure that the Bureau will be ready to facilitate the entry of [the] vaccines,” he said. “As one of the country’s frontline workers, we will ensure that our customs boarding officers are given priority when we roll out the national vaccination program.” The BOC last week released Memorandum 6-2021 asking its employees to fill out a survey form to gauge their willingness to be vaccinated against Covid-19 and to determine the brand of vaccine that employees prefer to vaccinated with “in case the BOC decides to procure such vaccine.” Top priority population groups

for the country’s Covid-19 vaccination program include health workers, senior citizens, persons with comorbidities, frontline personnel in essential sectors—including uniformed personnel—and those in working sectors identified by the Inter-Agency Task Force on Emerging Infectious Disease as essential during the lockdown. Government agencies on Tuesday also held a dry run as part of preparations for the arrival of Covid-19 vaccines. President Duterte warned government workers last Monday night not to delay the flow of Covid-19 vaccines. The president mentioned in par-

ticular the BOC, saying they have “no business opening” the shipments. During the BOC’s anniversary program, the bureau also destroyed 10 luxury vehicles worth P45.2 million. The finance chief said this was done to “prevent smugglers from circumventing the law by attempting to acquire these vehicles through the auction process.” Last year, the BOC seized an estimated P10.6 billion worth of smuggled goods, of which over half were illicit cigarettes and tobacco products. Also among the seized items were the laptops and smartphones that were recently turned over to the Department of Education.

Unit of Globe subsidiary’s tax payment hits ₧1.5-billion

HE unit of a wholly owned subsidiary of Globe Telecom Inc. announced the taxes it paid via its platform soared by 286 percent in 2020. In absolute terms, payments to the Bureau of Internal Revenue (BIR) coursed through the GCash platform reached almost P1.5 billion, according to Martha Sazon,

CEO of GCash operator Globe Fintech Innovations Inc. The company is currently wholly owned by Globe Capital Venture Holdings Inc., which is in turn a wholly-owned subsidiary of Globe Telecom. Sazon said this “signals that consumers are now shifting towards e-payments for their government transactions.”

“Government online transactions should further grow this year, similar to what we’ve observed in 2020. This trend shall continue not only because of health and safety interests against the pandemic, but also because online payments are more convenient, and has been proven to be one of the most efficient methods for transacting with the public sec-

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tor,” she said. Sazon noted that the platform will continue to support the government’s initiative for stronger tax collection this year. She said they fully support the BIR’s “campaign against delinquent taxpayers and tax dodgers and for a more efficient tax collection process.” Lorenz S. Marasigan

HE Union Bank of the Philippines (UnionBank) announced on Wednesday that it acquired majority ownership in a Batangas-based thrift bank through its wholly owned subsidiaries. In a statement, the Aboitiz-led bank said that City Savings Bank Inc. and UBP Investment Corp. (UIC) purchased a total of 70-percent stake in Bangko Kabayan (BK) Inc. CitySavings holds 49 percent while UIC has 21-percent ownership in the thrift bank. “BK is a very well-run bank with a decades-long track record of success and service to SMEs [small and medium enterprises],” CitySavings President and CEO Lorenzo T. Ocampo said. “We are excited to work with them to expand their business and reach.” BK President Betty Romulo, meanwhile, said that the UnionBank group will allow the thrift bank to expand its digital banking offering. “Being part of the UnionBank group gives us access to digital banking solutions that will improve BK’s services with no need for a brick and mortar expansion,” Romulo said. “We look forward to the technological and capital support from CitySavings and UnionBank to level up BK’s capacity and reach out to more clients faster.” The Batangas-based thrift bank aims to further its financing for SME segment in the Calabarzon region with the digital capacity of UnionBank. BK was established in 1957 as

“Ibaan Rural Bank,” a development bank providing reasonably priced credit to small merchants and farmers. “The bank’s focus on grassroots entrepreneurship is aligned with CitySavings’ overall strategy to strengthen its presence in the mass market segment,” the Aboitiz-led bank said. UnionBank saw its profits decline by 17 percent to P11.6 billion last year from P14 billion in 2019 amid the surge in credit loss reserves. Loan loss buffer reached P8.7 billion last year in anticipation of increase in nonperforming loans (NPL). This is more than four times the P1.9 billion it earmarked in 2019. NPL ratio rose to 5.1 percent from 3.1 percent. Total assets of UnionBank stood at P774.5 billion as of end-December 2020. Capital equity tier 1 ratio and capital adequacy ratio are currently at 15 percent and 17 percent, respectively. Meanwhile, thrift bank subsidiary CitySavings recently raised P5 billion from issuance of corporate notes, proceeds of which are allocated to beef up bank assets. Of the total issuance, P1.5 million is set to mature in three years while the remaining P3.5 billion has a tenor of five years. BDO Capital and Investment Corp. was the lead arranger and bookrunner of the transaction. Meanwhile, Development Bank of the Philippines, Philippine National Bank and Robinsons Bank were tapped as co-arrangers. Tyrone Jasper C. Piad

Singaporean insurtech inks agreement with Philinsure

INGAPORE-headquartered insurance technology firm Axinan Pte. Ltd. announced last February 9 an official partnership with Philippines-based insurance broker Philpacific Insurance Brokers Inc. (Philinsure). “This partnership kicks off with the digitization of Philinsure’s insurance products offering accessible and affordable insurance to Filipinos in the country to support their need for security and protection,” Axian, the operator of Igloo, said in a statement. “As the partnership evolves, Igloo and Philinsure will be providing more insurance products to better protect the families in the Philippines.” “This pandemic brought about an urgent need for traditional industries to tap technology, and this is especially evident in the insurance sector in the Philippines,” Axinan Chief Commercial Officer Raunak Mehta was quoted in the statement as saying. “This partnership with Philinsure aims to support a very important sector in the Philippines, such as small business owners whose work have a very real and immediate impact on their communities. We want to be able to provide them with affordable and relevant protection to give them the confidence to focus on their business and their livelihood.” According to the insurtech, with a digital insurance penetration of less than 1 percent, “the availability of insurance protection in the Philippines is largely offline which limits their reach, especially in these days of the pandemic.” The company said it sees “a lot of potential in driving this digitally to provide highly customized and relevant solutions to the consumers in the most accessible, scalable and affordable manner. “Leveraging its technological capabilities, [Axinan] is able to deliver operational efficiencies and lower costs for its insurance partners and provide value-adding products to the customer base of its distribution partners.” Philinsure CEO Gordon Alan P. Joseph expressed “excitement” in working with Axinan. “We also see that working with [Axinan] will help us achieve greater efficiencies in our post-pandemic digitization program,” Joseph added. The company cited the United Nations Development Program in say-

ing that micro-scale, small-scale and medium-scale enterprises (MSMEs) comprise 99.5 percent of the nation’s business establishment, employing approximately 63 percent of the country’s workforce. Axinan said its partnership with the 21-year-old Philinsure is part of its larger mission “to provide affordable insurance to the masses.” According to the insurtech, the partnership seeks to strengthen its foothold in the Philippines market as it expands the variety of verticals it serves from on-demand customer platforms to banks, fintech and logistics firms. The company added that since it entered the Philippines with its collaboration with Southeast Asia’s hotel management and booking platform RedDoorz in 2019, it has also partnered with UnionBank of the Philippines in August last year. The insurtech said it has also widened its insurance partner base to include Mercantile, Pioneer, PGASompo Insurance Corp. and United Coconut Planters Life Assurance Corp. Axinan said it looks to evolve its product offering by investing in the development of new products to cater and fit the ever-changing market needs. Apart from these existing products, we aim to work with partners to launch new policies such as home, business, internet security, pet insurance and those focused on single diseases such as dengue and Covid-19, the company said. “With these plans in mind, the team looks to hire more people in their Philippines office as it expects the number of policies sold via its platform in the Philippines to grow four times this year,” it added. “The company is also looking for strategic investors for [its] upcoming funding round,” which is expected to close by the first quarter of this year. Founded by Wei Zhu in June 2016, Axinan said it is “a full-stack insurtech firm, employs big data, dynamic risk assessment and expedited claims management, to provide partners with widened distribution networks and allows consumers access to customized insurance solutions.” The company said that, to date, it has sold over 100 million policies in Indonesia, the Philippines, Singapore, Thailand and Vietnam.

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Editor: Gerard S. Ramos

• Thursday, February 11, 2021

Embrace child safety in motor vehicles

OAD crashes kill about 1.35 million people around the world each year, becoming the leading cause of death among fiveto 29-year-olds, according to a World Health Organization report. More than 90 percent of fatalities are from low- and middle-income countries. Road crashes were also found to be one of the top 5 causes of preventable injuries in children, reveals a joint WHO-UNICEF report. According to WHO, the use of safety seats in cars reduce infant deaths by approximately 70 percent, while deaths of small children by 54 percent. In the Philippines, road deaths last 2018, as presented by Imagine Law, was 12,487. That is more than 34 persons every day. With the signing into law in February 2019 of Republic Act 11229, or the Child Safety in Motor Vehicles Act, the country now has laws on all five key behavioral risk factors for global road safety: speed, drunk driving, helmet use on motorcycles, seat belt use, and now the use of child restraints. RA 11229 aims to ensure the safety of children while being transported in any form of motor vehicle. It uses the standards set forth by UNR 44 and 129. It was enforced beginning February 2, 2021. RA 11229 requires that children up to 12 years of age or up to 4’ 11” in height, while inside a covered private motor vehicle, should each be buckled up in a car seat, also a called child restraint system (CRS), appropriate for the child’s age, height, or weight. According to the Department of Trade and Industry (DTI), a CRS “is a device capable of accommodating a child occupant in a sitting or supine position. It is so designed to diminish the risk of injury to the wearer, in the event of a collision or of abrupt deceleration of the vehicle, by limiting the mobility of the child’s body.” This means, as explained further by Imagine Law, the CRS protects a child by a) keeping the person in the vehicle; b) directing the forces to the strongest

parts of the body (hips and shoulders) and distributes the force over a wide area; c) protecting the head, neck, brain and spinal cord; and d) helping the occupant ride down the crash (like catching an egg). RA 11229 further states that children in the stated age group must not sit in the front seats of the vehicle; and must never be left unaccompanied by an adult, even if strapped in a CRS. The law covers all private vehicles, including those under lease. It does not cover public utility vehicles. This policy prohibits the promotion, sale or use of substandard or expired child car seats. Units that meet the standards of the DTI-Bureau of Philippine Standards should have a PS License Mark or an ICC Sticker on the product or product packaging. This is issued to a manufacturer whose quality management system and product have successfully complied with the requirements of the PNS (Philippine National Standards) ISO 9001 and the relevant product standards, respectively. When buying CRS, take note of the following: n manufacturer’s name or trademark —to ensure it comes from a credible manufacturer

n year of prodcution n instructions for correct installation and use n country of origin n serial/batch number n PS License Mark or ICC Sticker Child car seats purchased prior to the effectivity of RA 11229, and thus bear neither PS Mark nor ICC Sticker, must first be checked and cleared for use by the Land Transportation Office (LTO). For infants zero to 15 months, within zero to 13 kg, rear facing positioned infant carrier car seats are recommended. For toddlers 15 months to four years, within nine to 36 kg, forward facing car seats are recommended. For children four to 12 years old, within 15 to 36 kg, you will need a booster seat. There are also convertible car seats that can accommodate multiple age groups. Celebrity mom Jolina Magdangal is appealing to parents to use car seats when traveling with their children to help stem the still-high number of road incidents in pandemic-ridden 2020. “Para sa isang magulang na katulad ko, ano pa ba ang mas mahalaga kundi ang safety ng mga anak natin at mahal sa buhay?” said

Memo to families: 5 food trends to watch in 2021 By Pauline Joy M. Gutierrez EVERY year, players in the food industry release their predictions about what people will be eating and drinking for another 365 days and beyond. The previous year saw a rise in home cooks as a result of the lockdown, and institutions like the San Miguel Foods Culinary Center (SMFCC) noted that this will likely carry over this 2021, especially as the Covid-19 pandemic continues to rage. “With the pandemic still in our midst—allowing many the luxury of time to spend in the kitchen—the year yields a lot of home-grown specialties such as family and heirloom dishes, cooked with much love and care,” shares chef Reggie Aspiras, author of the best-selling book Notes From my Kitchen. “Food this year will be about coming home to one’s roots. It is food from one’s home, meant to be shared. It is a tribute to one’s familial tastes and flavors. Cooking will then be all about bringing one’s personal light to the table,” she adds. In a food forecast session over Zoom, “Food Forward: A Peek Into 2021 Food Trends,” SMFCC Culinary Services Manager Llena Arcenas listed down five food craze that will be popping up on our plates, in our homes: Plant-based diet THE plant-based food market is booming. With one-third of consumers choosing to actively reduce their meat consumption, the demand for plant-based innovation is growing at a rapid pace as consumers are now more open to alternative and flexitarian types of diets. Plant-based food options have gained popularity in previous years but 2021 will be bursting with new and creative ways of using plant-based ingredients. “Such a rise in the health and wellness movement is attributable to the pandemic situation and seeping awareness for sustainability,” said Arcenas. San Miguel Foods launched recently its Veega line of meat-free, vegetarian products made from locally produced plant-based protein ingredients. The line

Jolina in a recent interview. Jolina’s resolve in ensuring her children’s safety inside cars, and for road safety in general, arises from her family having been in a road crash. In July 2017, a van rammed into the rear of their family car while they were en route to the airport to catch a flight. She and her husband, musician Mark Escueta, suffered minor injuries. Their son, Pele, three years old at the time, was with them and, thankfully, emerged from the accident unharmed. “How thankful I was for the car seat. What if I had not put my son in a car seat? With his small and fragile body, I dread to think of what could have happened were he not in a car seat,” she recalled of her relief after she checked on her son right after their car was hit. Apart from being mildly upset at his crinkles having been thrown out of the container, Pele was fine—cushioned from the impact of the crash by the car seat he was strapped in. In closing, as Imagine Law, stated in their presentation on car accidents: “Your loving embrace is not enough.” Let’s all take car safety for our families, especially our kids, to heart to today. n

Mothers who earned straight A’s in high school manage the same number of employees as fathers who got failing grades By Jill Yavorsky & Yue Qian University of North Carolina-Charlotte, University of British Columbia

THE expanded range of delicious healthy offerings from San Miguel Foods.

has been enthusiastically received by the market.

be used as a means to ward off cooking fatigue of home cooks.

Upcycling THERE is heightened consciousness about reducing food waste among consumers. While this practice has been around for a while—turning fruit peels into edible candies or converting stale bread into bread pudding—the concept has taken a whole new level with consumers more proactive in creating from food waste and food manufacturers getting more involved.

Rise of global ethnic flavors WITH travel restrictions still in place, more consumers will turn to food this year to explore global and unconventional flavors and ingredients. India’s spice blend Garam Masala and North African condiments and spices such as dukkah, za’atar, sumac and baharat are expected to gain popularity as home cooks try more exotic spices. Ethnic breakfast dishes, such as the North African Shakshuka and Turkish Menemen as well as cuisines coming from the Asian Islands, Regional Chinese, South America and India will be seen more this year. Other flavor highlights to look out for this year include Filipino barbeque, Japanese Izakaya eats, Indian Kashmiri and Modern Mediterranean.

Ready-to-eat food IN the past, ready-to-eat (RTE) food was limited to sandwiches or handheld food purchased in convenience stores. Now, it is all about ready-to-eat restaurant meal kits and ready-to-cook food that carry local and global flavors, such as the San Miguel Foods Ready to Eat Frozen Food Pack line that includes Chicken Adobo, Lechon Paksiw, Chicken Karaage and Angus Beef Burgers. More restaurants will offer meal kits, which will give consumers the experience of eating out in the comfort of their own homes. These kits will also be a creative alternative to the usual take-out and can

Functional indulgence CONSUMERS care about what they put in their bodies, even when they indulge. This year’s food and beverage options will be not only crafted to look and taste great but also created to benefit the consumers’ health and well-being.

Mothers who showed the most academic promise in high school have the same leadership opportunities as fathers who performed the worst, according to our new peer-reviewed study. That is, in their early-tomid careers, mothers who got straight A’s end up overseeing a similar number of employees as men who got F’s. To reach these conclusions, we used a US national survey that since 1979 has tracked a group of baby boomers born from 1957 through 1964. We focused on the 5,000 or so participants for whom researchers obtained high school transcripts and then compared the data with their responses to career-focused surveys taken over an 11-year period from 1988 to 1998—a period when most of them were in their 30s. Overall, our results showed that men manage more employees than women regardless of their GPA. For participants without children, the leadership gap between men and women was fairly constant across GPA levels, with men managing about two to three workers more on average. What was most interesting to us is what we learned when we focused only on parents. Fathers with 4.0 GPAs reported overseeing an average of 19 people, compared with 10 for childless men with similar grades and about five for fathers with a 1.0 or less. In contrast, the best-performing mothers managed fewer than five people, compared with seven for childless women with top GPAs and three for mothers with the worst grades. In other words, becoming a parent boosts leadership opportunities for men while diminishing them for women. Even attaining a college or advanced degree had the same effect, helping fathers but doing little for mothers. Other research reveals that men have a faster route to leadership positions across occupations, including in stereotypically feminine fields such as human resources and health care. Recent economics research has highlighted “lost Einsteins”—the really smart students from poor families who never become inventors because they don’t receive the same advantages and support that even low-

achieving kids from rich families do. The same can be said for women, whose talents have long been underutilized by corporate America. Our research showed that even the most talented and brightest women experience diminished leadership prospects on account of genderrelated barriers, especially if they became mothers. But the problem isn’t motherhood or fatherhood per se. Past research has shown it’s more about how society views mothers and fathers and the associated stereotypes that contribute to gendered outcomes. For example, fathers could be getting more leadership opportunities because employers stereotype them as better fits for positions that emphasize authority, long work hours and travel. Mothers, on the other hand, may see fewer chances because employers falsely believe they are less committed or competent. Employers could help overcome this problem by reviewing how they evaluate workers and adopting fairer promotion practices that are more likely to recognize women’s talent. More family-friendly policies such as paid leave and subsidized child care could also help. Covid-19 has harmed women’s employment and productivity more than men’s, particularly among parents because of a lack of child care support. We plan to conduct additional research to better understand how women’s leadership opportunities may have been affected by the pandemic. THE CONVERSATION

B6 Thursday, February 11, 2021

Meralco unveils new solar-powered Bacoor City Hall

PLDT Home launches Buy Two, Share One promo with Grab

HE pandemic may have drastically changed the lives of many Filipinos and for some, this meant major adjustment and acceptance. Working from home has become the new norm while dining-in has become ordering online. But the heart of the Filipino remains the same, that is to thrive rather than just survive and likewise reach out to assist one another. PLDT Home continuously offers unique opportunities to continue to support others in these trying times. With a few simple clicks while ordering your food online, customers can now help bring joy and happiness to other families with the Buy Two, Share One program. Partnering with Grab Food, PLDT Home enables users of the Grab App to create simple acts of kindness by sharing a part of their orders to the riders’ families. Just by following the simple steps in the app, customers now have the option to avail of the Buy Two, Share One promo and provide the rider the same food item that was ordered. This way, the hardworking hands behind the hundreds, if not thousands of deliveries being made each day, will experience the genuine generosity of the customers they serve.

ATTENDING the ceremonial switch-on are, from left: Coun. Alde Pagulayan, Coun. Robert Javier, Meralco Bacoor Business Center Head Noel Dizon, Meralco HMB South Business Center Head Noel Porciuncula, Mayor Lani Mercado-Revilla, Coun. Rowena Bautista- Mendiola, and Spectrum COO Robert Pereja.

Paying it forward has more than just satisfaction as a reward. PLDT Home showcases the many exciting prizes that await every Grab user who avails of the promo. Surprise your Grab driver by ordering for them by simply logging in to your Grab app, click on the Food feature and select the “Share with your Rider” option. Every Grab user who successfully orders using the “Share with your Rider” feature from January 24 to February 7 will be entitled to a raffle entry

for a chance to win special prizes from PLDT. Grab users can order as many times within the promo period to earn more raffle entries. Sharing is indeed caring and it is now easier to share, more than ever. Be onestep closer to not only winning but being a blessing to others as well. Watch how celebrity couple Isabel Oli and John Prats changed a life of a Grab driver in this heartwarming video with PLDT Home.

Boost workforce productivity with Sun Life Grepa Healthcare

MPLOYEES are any organization’s most important asset. They are the backbone to help businesses thrive. While a good salary can make employees stay in the company, employee retention goes beyond financial compensation and adding value like health and life insurance to their benefit package can help sustain and increase their productivity. In line with the company’s mission of helping every Filipino achieve lifetime financial security and live healthier lives, Sun Life Grepa Financial, Inc. (Sun Life Grepa), a major life insurance company in the Philippines, is offering various employee healthcare benefit packages through its Sun Life Grepa Healthcare unit. Sun Life Grepa Healthcare's employee benefit program for different group sizes is designed to provide a holistic approach depending on where the business is currently at in their life cycle – whether it be a startup, a growing business or an established enterprise.

The main focus of this program is to help employers provide insurance with maximized benefits to its workforce to increase productivity and satisfaction, as well as build a foundation of trust between the employer and the employees. “Employees who feel valued and appreciated by their company are more likely to perform well and even go beyond what is required of them,” says Peter Miranda, Vice President for Sun Life Grepa Healthcare. “By securing their health and wellness, it shows that you, as employer, are invested not only in what they can contribute for the company, but also in their future.” “Through our program, we’re committed to being with our clients and their employees in every step of their wellness, protection, and recovery journey. This is especially timely in light of uncertainties brought about by the COVID-19 pandemic. Our team can assist in creating a life coverage and health benefit package

that may help your company not just retain, but attract quality talents at a reasonable cost,” Miranda added. Unlike regular group coverage, Sun Life Grepa Healthcare’s employee benefit program offers predetermined levels of life, accident, disability, and medical coverage that the company can customize depending on their employees' needs. It addresses wellness needs by providing quality treatment through the inpatient and outpatient medical benefits with access to over 900 hospitals and clinics as well as over 17,000 doctors nationwide. This is reinforced with coverage in the company’s preferred hospital, clinic or doctor with out-of-network reimbursement as well as the 24/7 client care hotline. Meanwhile, its protection benefits offer life insurance coverage anytime, anywhere and against any cause of death (subject to company's terms and conditions) while also providing disability and terminal illness benefits as well as accident insurance with medical reimbursement. It also has recovery benefits in place which provide guaranteed cash benefit in case an employee is diagnosed with any of the 36 most common critical illnesses allowing them to better manage the costs of getting treatment. Be Hyped to Ignite Productivity (Be HIP) and make Sun Life Grepa your Health Insurance Partner (Get HIP) today. For inquiries about the Sun Life Grepa Healthcare Program, contact your Sun Life Grepa advisor, visit any Sun Life Grepa branch or email groupsales@sunlifegrepa.com.

DINE UNDER THE STARS AT THE PODIUM. You and your loved one will have that top of the world feeling dining under the stars at The Podium‘s roof deck garden this Valentine. Enjoy a romantic evening dining in the cool February air with a special menu from Shanghai Saloon and Wolfgang‘s Steakhouse. Make it a date until February 14 from 6:00PM to 8:00PM.

PECTRUM Inc., the renewable energy arm of MERALCO, announced its partnership with the Bacoor City Government and recently energized the city capitol’s solar power system. This is part of the local government’s several projects which is aimed to push for a greener city and more efficient allocation of resources that will benefit the people and the environment. The system installed is expected to produce approximately 87,800 kWh, which

corresponds to 64 tons of carbon footprint reduction. This also translates to over PHP600,000 worth of savings per year. Included in this project is net metering, as the newly solar powered Bacoor city hall is able to generate their own solar power, where any excess will be exported to the grid and be credited to them. Mayor Revilla continues to explore options of other solar projects within the city of Bacoor, as she strives for it to be the premier business hub south of Metro Manila.

BRITCHAM Ph’s virtual economic outlook 2021: ‘We need to boost economic recovery’

HE British Chamber of Commerce Philippines held its 2021 Virtual Economic Outlook: 'Fostering Resiliency, Boosting FDIs and Welcoming Opportunities in a Post-Pandemic World' on 29 January 2021. Guest speakers Undersecretary Ceferino Rodolfo, Industry Development and Trade Policy Group and DTI Vice-Chairman and Managing Head of Philippine Board of Investment, Undersecretary Rosemarie Edillon, National Development Policy and Planning, (NEDA) and Mr. Edward Lee, Chief Economist, ASEAN and South Asia,

Standard Chartered Bank discussed topics ranging from vaccination, travel restrictions, removing economic barriers and age restrictions in the Philippines were discussed. DTI and NEDA called for the government to allow children to go out in a bid to increase economic activity. NEDA also emphasized the importance of removing economic barriers and passing the economic reforms to attract foreign direct investment in the country such as the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act and Retail Trade and Liberalization Act.

GBP donates computers to adoptes schools in Iloilo and Cebu to assist students in the new normal

LOBAL Business Power Corporation (GBP) recently donated computers and laptops to its adopted schools and scholars in Cebu and Iloilo, to help facilitate distance learning. Through subsidiaries Cebu Energy Development Corporation (CEDC), Toledo Power Co. (TPC) Panay Energy Development Corporation (PEDC) and Panay Power Corporation (PPC), a total of 34 computer sets and laptops were provided while one desktop unit was given to the local law enforcement unit in Nabas, Aklan.

“Now more than ever, Global Business Power is committed in helping our scholars, partner schools, and supported communities cope with the present challenges of distance learning,” said GBP President Jaime Azurin. PEDC3 plant manager Rolando Cenera and PEDC Admin manager Napoleon Maggay with GBP’s college and senior high school scholars receieved the donation. GBP is one of the leading power producers in the Visayas, Mindanao and Mindoro islands with a total gross capacity of 1,091 MW.

Editor: Anne Ruth Dela Cruz

Health&Fitness BusinessMirror

Thursday, February 11, 2021 B7

Diet, lifestyle changes needed to fight obesity

By Rory Visco Contributor

he Mayo Clinic describes obesity as a complex disease involving an excessive amount of body fat. It is not just a cosmetic concern but a medical problem that comes with increased risks for other diseases and health problems like heart disease, diabetes, high-blood pressure, and certain cancers. It adds that obesity may be due to inherited factors, together with environmental, personal diet and exercise choices. Putting it bluntly, obesity is also about lifestyle choices.

The Philippines and around the world At least one in three adults in the country is obese. This is a trend that has been increasing over time. According to the National Nutritional Survey (NNS) by the Food and Nutrition Research Institute (FNRI) in 2016, the most number of obese young adults can

be found in Luzon and this Is one of the highest in Asia-Pacific. Perhaps because we are a rice-eating nation? Probably, but there are other countries that also consume rice and yet have lower rates of obesity. On a global scale, obesity is already considered a pandemic where it has already tripled since 1975 and affects over 650 million adults worldwide. The World Health Organization (WHO) has already declared obesity as the largest global public health problem in adults, a more serious problem than malnutrition.

Fighting back

Though being overweight and obese have been part of many people for so many years, Dr. Rocio Medina, Vice President, Worldwide Nutrition Training of Herbalife, believes that there is a need to fight back because this has become a public health problem in the Philippines. “The problem continues to increase through the years. Obesity as a disease brings a lot of health problems. It is not really just about body appearance, it’s not about how you look but how you feel.” There are now a lot of challenges and obstacles, she said, because lots of things in our lifestyle have changed. “People used to exercise more but because of our need to work, we forget to establish a worklife balance. We really need to reverse this obesity pandemic by changing the way we eat.”

What can we do? It is hard for one person to make a change. Everyone is needed—from the populace, institutions, health-care practitioners, businesses, even the media—to send the message and tools to help people change their lifestyle. While the global pandemic brought about by Covid-19 forced a lot of changes

upon us, Dr. Medina said it also brought some good changes. Highlighting the key findings of the Asia Pacific Diet Decision Survey 2020, she said that in the Philippines, one in two respondents changed their diet during the pandemic. About 51 percent of respondents said they wanted to use the time at home to make positive change, 50 percent had time to research on healthier food, while 42 percent had time to cook more and learn new recipes as reasons for making dietary changes. Also, eight in 10 consumers (82 percent) considered their health as their top motivator for eating healthier during the pandemic, followed by weight loss (51 percent) and cost efficiency (27 percent).

Eating healthier from now on She suggests healthier eating options like learning to limit calories from added sugars and still enjoy the food and drinks we love. “Choosing a healthy eating pattern that is low in added sugars (sugars and syrups found in sodas, yogurts, candies, cereals and cookies or sugars added to coffee) have important health benefits.” She cited the 2018-2020 Dietary Guidelines for Americans that recommend limiting calories from added sugars to no more

than 10 percent each day. That is 200 calories, or about 12 teaspoons of sugar, for a 2,000-calorie diet. The average American gets 270 calories of added sugars daily, or about 17 teaspoons of sugar so changes need to be made. To help improve body composition, Dr. Medina cited three factors, such as increased intake of high biological value protein like isolated soy protein, egg white, beef protein, fish and poultry, whey; decreased consumption of simple carbohydrates like white bread, white sugar, white rice, among others. Finally, to increase physical activity as much as possible, like strength training by two to three times a week, and resistance aerobic training by three to four times a week. She also pointed to the consumption of nutrition shakes, high-protein and low-carb snacks, and hydration without the added sugars. When coming up with a reduced-calorie meal plan, Dr. Medina said to remember that it should be individualized (“there’s no best plan”), should include 500 to 700 Kcal daily deficit, should reflect personal and cultural preferences, and should include a variety of meal plans such as low-carb, low fat, high protein, Mediterranean, and meat replacement should be considered.

Follow the ‘52100’ rule Who should not get the Covid-19 vaccine? to improve heart health E

By Claudeth Mocon-Ciriaco

he heart is the body’s engine room. It is responsible for pumping-life sustaining blood via thousands of kilometer-long network of vessels. Over the last century, heart disease has risen steadily due largely to changes in diet and lifestyle. The Department of Health (DOH) reported that cardiovascular diseases remain to be the top cause of mortality in the Philippines with 120,000 Filipinos dying due to lifestyle-related diseases (i.e. cardiovascular, stroke, hypertension, kidney problems and diabetes) per year.

Silent killers

The Philippine Heart Association (PHA) also warned that arrhythmia is a silent killer. High blood pressure or hypertension and diabetes which are also called silent killers that contribute to the high prevalence of cardiovascular diseases (CVDs) for they are all considered lifestyle diseases. They are called silent killers because most people don’t feel any symptoms. Heart ailments, hypertension and diabetes, in the past, were generally common among people who have a family history of these diseases and disorders But today, the number of people who acquire CVDs and their complications is on the rise. Fast-paced lifestyle or adapting to western influence is one of the culprits of CVDs.

Angina

Angina is considered a prelude to a heart attack, according to Dr. Iris M. Garcia, a cardiologist from the Philippine Heart Center. “Angina is chest pain, also termed chest discomfort in adults,” Dr, Garcia said. Although it is not a disease, angina is a symptom of coronory artery disease where you feel pressure, tightness or heaviness in the chest area. “Sometimes the pain is strangling, consistent or burning. It occurs when there is reduced blood flow to the heart,” Dr. Garcia said. “It is not a disease but a symptom due to ischemia when one or more coronary arteries becomes narrowed or blocked,” she added. Angina is not life threatening but can resemble the symptoms of a heart attack and that it is a sign of heart disease.

Healthy heart

The PHA encouraged everyone to start having their blood pressure and blood chemistry checked every year, with or without genetic predisposition. Likewise, a person also needs to know how to control their numbers to be able control the risks. Awareness and compliance are among the keys to a healthy heart. It should be one of the goals of a person to not be part of the growing population of hypertensive, diabetic, hypecholesterolmic (high cholesterol), obese and couch potato Filipinos. The normal BP is 120/80. Achieve and maintain less than 100 sugar level, less than 200 cholesterol count, less than a 32 inch waistline for women and less than a 35 inch waistline for men.

Smoking and heart disease

Health Secretary Francisco T. Duque III also said that there should be prevention or cessation of cigarette smoking and even alcohol intake in order to control the prevalence of

heart and cardiovascular diseases. “I would like to reiterate that tobacco use and breathing secondhand smoke may indeed break your heart,” Duque said in a statement reiterating that the Heart Month is observed every month of February in the Philippines as pursuant to Proclamation 1096 signed in 1973. “You may have heard this a million times, smoking is dangerous to your health, but we still want to remind you every time we have a chance. Tobacco smoke thickens the blood, increases the risk of blood clots, narrows the arteries, and restricts oxygen in the blood,” he said. According to the 2016 Philippine Health Statistics, one in every four deaths was caused by diseases of the heart, making it the number one cause of death. Even the World Health Organization (WHO) stressed that both smoking and second-hand smoke contributed to about 12 percent of all heart disease deaths globally. Ischemic heart diseases, meanwhile, continued to be the leading cause of death in the Philippines with more than 74,000 recorded cases in 2016.

Battle against obesity

For health and vanity reasons, people with weight problems should win the battle of the bulge or obesity. In the latest study of the National Nutrition Council, three in 10 Filipino adults are now obese. This was supported by data coming from the National Nutrition Survey of the Food and Nutrition Research Institute that showed an alarming rise in the number of obese Filipino adults for the past two decades from 16.6 percent in 1993 to 31.1 percent in 2013. Also, avoid cholesterol overload. A 2008 study on cholesterol levels among Filipinos by FNRRI released in 2012 showed that 26 percent of 30-yearolds have high cholesterol levels; 31percent of those in their 40s have high cholesterol levels. The incidence doubles for those in their 50s, with 48 percent. Findings from WHO and the DOH bared that one out of three Filipino deaths is due to CVD, which are often caused by the high concentration of bad cholesterol in the blood. Those with high cholesterol are to two to three times more likely to have CVD than those with normal cholesterol levels. Hypertensive adults are three to four times more likely to have CVD than non- hypertensive adults. Over three million Filipinos were estimated to have type 2 diabetes in 2007. CVDs which rank second as the most common cause of death among Filipinos have been linked with obesity. It is considered as an independent risk factor and the chances of developing complications from CVDs such as strokes and heart attacks, are increased in individuals who are obese.

Heart matters

Dr. Garcia said that because heart matters the PHA launched the 52100: The 52100 advocacy means: 5 for five servings of fruits and vegetables 2 for grams of added salt per day; 2 hours of maximum screen time 1 for one hour exercise per day 0 for zero smoking 0 for zero sugared drinks “If you have chest pain that doesn’t go away, it is important to consult a doctor immediately,” Dr. Garcia stressed.

veryone is waiting for the arrival of the Covid-19 vaccines as they are considered the light at the end of the tunnel. Some feel that through vaccination, we have a fighting chance against the Covid-19 virus. There are those, however, who are not so confident while other openly declared that they will not allow themselves to be vaccinated. The question, though, is—if people should be vaccinated to protect themselves from the virus, are there people who should not get the vaccine as well? Are these the older members of society, the immunocompromised or those with known allergic reactions to vaccines? Many know that even a simple flu vaccine can cause reactions, what more a new and still largely untested, one?

Are the vaccines really necessary?

Dr. Regina Pascua-Berba, Associate Professor, UP College of Medicine and Head of Hospital Infection Control at UP-PGH, and Chief, Division of Adult Medicine, Department of Medicine of UP-PGH, said yes and that the best way to stop the virus is to build enough Covid-19 specific immunity. She said no virus has ever eliminated itself by inducing natural immunity and only “herd immunity” or protection induced by vaccination can eliminate viruses. “We need to trust the system that our vaccines are safe even if they were developed quickly. They underwent trials that were large enough to detect any major safety concerns, and were scrutinized not only by stringent global bodies but also independent scientists and experts. And there are ongoing monitoring of adverse events. Even as people are being vaccinated, they are being watched as well. So we need to trust what the government is providing us,” she said. The basic premise is that these vaccines were tested safe by the Food and Drug Administration (FDA) before they are issued an Emergency Use Authorization (EUA).

What allergic reactions will make someone fit to receive the vaccine?

According to the Philippine Society of Allergy, Asthma, and Immunology, the only current contraindication for COVID-19 vaccination is if one had an

allergy to a previous dose of Covid-19 vaccine or any of its components. For those who received the first dose and developed a rash or severe anaphylactic shock should not get the second dose. Additionally, those who developed allergic reactions to other vaccines like flu shots, should be further evaluated or should consult first with an immunologist. Meanwhile, persons with allergic reactions to certain food, inhalants/environmental allergens and those not related to vaccines can still get the vaccine. Those with autoimmune or immune-deficiencies can also get the vaccine, provided they are informed that there is not enough data yet to establish vaccine efficacy and safety in these conditions. Those with controlled asthma and on inhaled corticosteroids, those with allergic rhinitis, can receive the vaccine. On Antibody-dependent enhancement (ADE), the Covid-19 vaccines are also not expected and are not seen to be producing an ADE response.

What are the side effects?

As the body creates an immune response, there may be side effects, which may occur on the first week after vaccination, or most likely one to two days after. There will be more frequent side effects on the second dose and it is more likely to happen in younger recipients. The most common adverse events are headaches, dizziness, nausea, even chills and pain on the injection site. These are not uncommon but they usually go away within 24 to 48 hours. When there are side effects, take paracetamol, cold compress and the health-care facility should be fully equipped with emergency medications. Most mild reactions can be resolved by antihistamines, and the facility should be ready to respond in case of anaphylaxis.

But what if there are no side effects?

Many people will get the vaccine and experience no side effects but this does not mean the vaccine did not work. “On the contrary, in many of the clinical trials, about 80 percent did not experience side effects but we know there is efficacy in more than 90 out of 100 people.” For those who previously received a vaccine like anti-pneumonia, the US Centers for Disease Control

and Prevention (US CDC) recommends a 14-day wait between receipt of a Covid-19 vaccine and nonCovid-19 vaccine, regardless of the order in which they were received.

If one has received a vaccine, is it a risk to the unvaccinated household?

No. The vaccine is not composed of live viruses so there is no infectious virus to spread from the vaccinated person to the unvaccinated ones. However, if families don’t get vaccinated at the same time, those vaccinated should continue to practice the same health protocols. And even if the whole family is vaccinated, it is still best to practice same health protocols since the vaccine may not work 100 percent for everyone.

Can pregnant women get the vaccine?

There is no data included for pregnant women in the early trials but once data became available, there were no major safety concerns noted in this small group of women. Of course, there is still a need for additional data on this. But overall, pregnant women can receive the vaccine. “It is best to consult the obstetrician and discuss the pros and cons, and should still follow health protocols whether vaccinated or not.”

How about the immunocompromised?

They can still get the vaccine, provided they do not have allergies to vaccine components, history of severe allergy to vaccines or injectable medications. For those with immunocompromised states, it is better to discuss with a doctor. “But in general, the immunocompromised ones are those we really want to be protected against the severe effects of Covid-19.”

What about those with active Covid-19 infection?

They should wait until they are fully recovered, while those who participated in clinical trials or received convalescent plasma, they should wait for three months before getting the vaccine. But people who had Covid-19 in the past or tested positive can still benefit from the vaccination. Rory Visco

Hospital launches mobile clinic to serve Sta. Rosa communities

ince many people are still reluctant to visit the hospital for their medical needs, The Medical City South Luzon (TMC-SL) now has a mobile clinic that can go around the surrounding communities for this. Launched last February 8, 2021, the TMC-SL Mobile Clinic is a specially designed vehicle tailored to provide a wide range of quality health-care services including laboratory and diagnostic services such as all types of X-ray and ECG, ophthalmology screening and referrals to Ophthalmologists and other medical specialists for teleconsultation. “The Medical City South Luzon tries to be relevant to the communities that we serve and we saw that there was still the fear of contracting the Covid-19 virus,” said Dr. Cesar Ramon B. Espiritu, President and CEO of TMC-SL during the inauguration of the Mo-

bile Clinic. “This is our response to that need and we hope we will be able to cater to their health needs.” Present during the inauguration ceremony were Sta. Rosa, Laguna Mayor Arlene B. Arcillas, Laguna Provincial Health Officer Dr. Rene Bagamasbad, TMCSL COO Dr. Jose Enrico Juliano and Dr. Jesus Julio Ancheta, TMC-SL’s Chief Medical Officer. “I would like to thank The Medical City South Luzon for being one of our partners during the pandemic,” Arcillas said in her remarks. “This will really a big help to the Sta. Rosa community.” TMC SL Mobile Clinic aims to serve employees from the different locators of the industrial parks such as the Laguna Technopark, Inc., Laguna International Industrial Park, Carmelray 1 and 2 and First Philippine Industrial Park, as well as residents of neighboring communities by giving them easy and

convenient access to quality health care from diagnostic tests to teleconsultation with TMC-SL doctors. The clinic will go around on scheduled visits to the different companies and communities to provide easy and safe access to health-care services. For business owners, having the mobile clinic at their location will help in their employees productivity in providing them with easy access to diagnostic tests thereby foregoing the need to be excused or to be absent from work. “Having access to a regular health-care provider will help people living in these communities receive ongoing health care and support closer to home. It will also save time and transportation costs for patients by bringing primary healthcare services to their community,” Dr. Espiritu said. Anne Ruth Dela Cruz

PACQUIAO

Pacquiao back to training camp

OXING icon Manny Pacquiao confirmed on Tuesday that he already established his training camp for his upcoming fight under Paradigm Sports Management of President Audie Attar in Dubai most probably in May. “Training camp has begun. I am ready to get back in the ring and to further add to my legacy in the sport of boxing,” Pacquiao said to BusinessMirror on Wednesday. “Big news coming soon.” But Pacquiao, now managed by Paradigm Sports, didn’t say who his opponent would be. Pacquiao started his usual light training and jogging inside Dasmariñas Village in Makati City last week. But his chief trainer, Buboy Fernandez, has yet to join the fighting senator in his training. Pacquiao’s business manager Arnold Vegafria said in a separate interview that Paradigm Sports would officially announce Pacquiao’s opponent later this week. “He will be fighting most likely in Dubai because of the low Covid-19 cases there,”Vegafria said. BusinessMirror learned that Mikey Garcia could be Pacquiao’s potential opponent, while there are several reports that the young hardpuncher Ryan Garcia is also on the list. The 42-year-old Pacquiao (62-7-2 win-lossdraw record with 39 knockouts) last fought in July 20, 2019, in Las Vegas, winning via split decision over erstwhile unbeaten Keith Thurman. The Games and Amusements Board (GAB), meanwhile, appealed to the World Boxing Association (WBA) to restore Pacquiao’s world welterweight title which he lost for failing to defend the belt. GAB chairman Abraham Khalil Mitra sent a letter of appeal to Gilberto Jesus Mendoza, president of the WBA which declared Pacquiao as the division’s “champion in recess” while handing the belt to Cuban Yordenus Ugas. Pacquiao won the title after beating Keith Thurman in July 2019, in Las Vegas, Nevada. The Filipino boxing icon didn’t fight in 2020 because of the Covid-19 pandemic. Mitra said that GAB will do its best to convince the WBA to have the eight-Division world champion keep the crown. “The GAB is mandated by law to champion the rights of every Filipino professional boxer at all times,” Mitra said in a statement. “That is why we are appealing to the WBA to reconsider its decision.” Josef Ramos and Annie Abad

Sports BusinessMirror

Palou

| Thursday, February 11, 2021 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

PVL teams set to return to practice next week

PHILIPPINE Olympic Committee President Rep. Abraham “Bambol” Tolentino (front row, left) administers the oath of office to the officers of the Philippine National Volleyball Federation Inc. on Wednesday at The Vault restaurant at the BGC in Taguig City. In photo are Ramon “Tats” Suzara (president), Arnel Hajan (vice president), Ariel Paredes (chairman), Donaldo Caringal (secretary general), Yul Benosa (auditor) and board members Ricky Palou, Karl Chan, Charo Soriano, Carmela Gamboa, Fr. Vic Calvo and Atty. Wharton Chan. Also in photo is POC Secretary General Atty. Ed Gastanes. NONIE REYES

TOUGH TASK FOR TONYBOY T By Josef Ramos

HE Philippine National Volleyball Federation Inc. (PNVFI) tasked longtime local volleyball stakeholder Tonyboy Liao to lead the formation of the national men’s and women’s volleyball and beach volleyball teams as chair of the new federation’s National Team Department. Liao was tasked to head the most sensitive position in the newly-formed national sports association for the sport, whose officers were inducted into office on Wednesday by Philippine

Olympic Committee President Rep. Abraham “Bambol” Tolentino at the The Vault restaurant at the BGC in Taguig City. PNVFI President Ramon “Tats” Suzara said Liao was chosen for his experience and involvement with the national team that won the women’s gold medal in the 1993 SEA Game in Singapore. “Mr. Liao was a former manager of the national team for many years,” Suzara said. “He also managed two of the most successful collegiate teams, De La Salle and Ateneo.” “He has a vast experience in managing teams and players and is highly-versed on

volleyball rules,” he added. Liao is still in the US but joined the PNVFI’s first board meeting—three days after securing the recognition of the International Volleyball Federation—online. “Thank you very much,” Liao, 64, said. “It’s a privilege to head the department and I know that the task is challenging but I promise to do my best.” “I will immediately form my team and discuss the criteria of selection of the players and coaching staff,” added Liao, who will have Ormoc City member Richard Gomez, a former national team member, as his secretary.

Pilot pressured to fly Kobe Bryant to game

OS ANGELES—As helicopter pilot Ara Zobayan encountered a cloud bank and decided to try to climb out of it, he was likely worried about getting his star client, Kobe Bryant, his daughter and six others to a girls basketball tournament, federal safety investigators said. That decision cost them all their lives, the National Transportation Safety Board (NTSB) said Tuesday in releasing long-awaited findings of the January 26, 2020, crash that killed all nine aboard. The NTSB primarily blamed Zobayan for a series

of poor decisions that led him to fly blindly into a wall of clouds where he became so disoriented he thought he was climbing when the craft was plunging toward a Southern California hillside. Zobayan, an experienced pilot, ignored his training, violated flight rules by flying into conditions where he couldn’t see and failed to take alternate measures, such as landing or switching to auto-pilot, that would have averted the tragedy. NTSB Chairman Robert Sumwalt said the accident illustrated that even good pilots can

make bad decisions. “Here is a case where a pilot who is well regarded apparently got into a very bad situation,” Sumwalt said. “The scenario we believe happened he is flying along, he realizes that he’s sort of getting boxed in with visibility and then he must have made the decision, ‘You know what, I’m just going to punch up through these clouds and get on top.’” The board said it was likely he felt self-induced pressure to deliver Bryant to the destination. It’s not the first time investigators have seen that happen with celebrities. Vice Chairman Bruce Landsberg cited separate aircraft crashes that killed musicians Buddy Holly, Patsy Cline, Stevie Ray Vaughan and Aaliyah. “In all of those cases you are dealing with someone of great star power status and pilots who desperately want to do a good job for the customer,” Landsberg said. “My sense is that the preponderance of the evidence, let’s call it 51 percent, indicate this pilot really wanted to get where he was going.” The agency also faulted Island Express Helicopters Inc., which operated the aircraft, for inadequate review and oversight of safety matters. When Zobayan decided to climb above the clouds, he entered a trap that has doomed many flights. Once a pilot loses visual cues by flying into fog or darkness,

Also appointed were Richard Palou (deputy secretary general for international affairs), Roger Banzuela (deputy secretary general for member relations), Carmela Gamboa (events council), Jerry Yee (technical and coaches), Prof. Robert Calo (refeering and rules), Karl Geoffrey Chan II (development), Donald Caringal (marketing), Rosario Soriano (beach volleyball), Benson Bocboc (VIS), Dr. Jose Raul Canlas (Medical), Rodrigo Roque (finance), Fr. Victor Calvo (legal and ethics) and Alysa Valdez (athletes) with members Abigail Maraño, Dennise Lazaro and Johnvic de Guzman.

the inner ear can send erroneous signals to the brain that causes spatial disorientation. It’s sometimes known as “the leans,” causing pilots to believe they are flying aircraft straight and level when they are banking. Zobayan radioed air traffic controllers that he was climbing when, in fact, he was banking and descending rapidly toward the steep hills near Calabasas, NTSB investigators concluded. Flying under visual flight rules, Zobayan was required to be able to see where he was going. Flying into the cloud was a violation of that standard and probably led to his disorientation, the NTSB said. There were 184 aircraft crashes between 20102019 involving spatial disorientation, including 20 fatal helicopter crashes, the NTSB said. “What part of cloud, when you’re on a visual flight rules program, do pilots not understand?” Landsberg said. NTSB member Michael Graham said Zobayan ignored his training and added that as long as helicopter pilots continue flying into clouds without relying on instruments, which requires a high level of training, “a certain percentage aren’t going to come out alive.” AP

HE 10 teams in the Premier Volleyball League (PVL) will start collective training next week in preparation for a bubble conference tentatively set in May at the Inspire Sports Academy in Calamba, Laguna. PVL President Ricky Palou said on Wednesday that the teams would be training in different venues. He also announced that the league already sealed a verbal agreement with Cignal TV as its television coveror. “Everybody is excited because they haven’t played for almost a year. They really want to play, but the teams want to have at least three months of training so hopefully by next week we get an approval,” Palou said. Palou said they are expecting to get an approval from the Inter-Agency Task Force for the Management of Emerging Infectious Diseases on the league’s intention to return. The PVL already secured a professional status from the Games and Amusements Board. Defending champion Creamline, Choco Mucho and Banko Perlas are set to practice at the Ronac Gym in Mandaluyong City, while Bali Pure and Peak Form will train in a gym inside a subdivision in Greenhills. Petro Gazz is expected to return to training at The Arena in San Juan City. Cignal and PLDT, Palou said, are still looking for their training venues. The Army and Air Force teams, on the other hand, are expected to practice in their respective gyms at the Fort Bonifacio in Taguig City and Villamor Air Base in Pasay City. Palou said the deal with Cignal TV only needs to be formalized on paper. “It’s just a matter of details like scheduling, but we already agreed verbally with the Cignal TV,” said Palou, who was named deputy secretary general for international affairs during the Philippine National Volleyball Federation Inc. inducation of officers on Wednesday at The Vault restaurant at the BGC in Taguig City. The PVL, he added, eyes a two-game (4 p.m. and 6 p.m.) schedule every day except Mondays, adding the return conference could last two months. Josef Ramos

Kobe Bryant and his daughter Gianna are photographed while watching the US national swimming championships meet in Irvine, California, in July 2019. AP

Aussie Open’s hard quarantine takes toll on players

EING stuck for two weeks in a Melbourne hotel room with windows that wouldn’t open “really took a toll” on Victoria Azarenka in the leadup to the Australian Open, the Grand Slam tournament’s two-time champion explained after she had trouble breathing during a first-round loss. When Tennys Sandgren resumed practicing after his can’t-go-anywhere hard quarantine ended, the American said Tuesday, his hands developed blisters from holding a racket. The rest of his body was so sore, Sangren said, he “took two days off because I couldn’t walk.” Vasek Pospisil’s time in lockdown left him “a little bit resentful” about being “unprepared” and concerned about the lack of a level playing field, the Canadian said in a video interview with The Associated Press. The 2014 Wimbledon doubles champion was critical of Tennis Australia, saying: “They’re not

familiar with player needs and how it is to be a professional athlete.” Like Azarenka, both Sandgren and Pospisil were among the more than 70 players forced to stay in their hotel rooms for every minute of at least 14 days after arriving, at the behest of a government in a country that undertook serious measures to stem coronavirus cases (Australia has reported fewer than 1,000 deaths). And, like Azarenka, both Sandgren and Pospisil lost their opening matches. “I’ve never walked on to a court in a Grand Slam knowing that I’m probably not going to be able to win. I’m physically not in shape enough to play with my opponent,” said Sandgren, who was beaten 7-5, 6-1, 6-1 by No. 21 seed Alex De Minaur on Day 2 a year after holding match points against Roger Federer in the quarterfinals. “I wouldn’t say the whole tournament is a joke, but for some players, it’s not feasible. It’s just not feasible.” For some, it’s worked out OK so far: 20-year-old American Ann Li, for example, has won five matches in a row since emerging from her hard quarantine, including a 6-2, 6-0 victory over No. 31 seed Zhang Shuai on Tuesday. Heather Watson also reached the second round, despite acknowledging

Victoria Azarenka says she had trouble breathing during her first-round loss.

she “didn’t feel as fit as usual, which is no surprise.” Paula Badosa, a 23-year-old Spaniard, said she dealt with physical issues and anxiety during her isolation, which lasted 21 days because she tested positive for Covid-19 after getting to Australia. Azarenka and others were deemed at risk for exposure to the illness after another passenger on their chartered flight tested positive. “It was tough for me to recover,” said the 70th-ranked Badosa, who was eliminated 6-7 (4), 7-6 (4), 7-5 by Russian qualifier Liudmila Samsonova. Badosa served for the win, but she faded as the match stretched past 2½ hours, dropping the last four games. “I needed fresh air or maybe a bigger room or better conditions to play against the best players,” she said. Players in the “regular” quarantine were allowed to leave their rooms for five hours per day during the first two weeks after getting to Australia. That time was parceled out this way: 1½ hours at a practice court, 1½ hours at a gym, an hour to eat, an hour for traveling to and from those activities. Not ideal, maybe, but it did provide chances to get ready to compete. “I raised this issue with the event. I said: ‘Hey, this is an extraordinary circumstance. So extraordinary changes to rules [and] exceptions can be made...right?’ Because at the end of the day, that’s the essence of sport,” Pospisil said. “That’s the beauty of sport: the equality of opportunity.” He said he made specific suggestions to organizers that were rejected—offering those in the strictest lockdown additional treatment or massage time; shortening men’s matches to best-of-three-sets in early rounds. AP