BusinessMirror February 16, 2021 by BusinessMirror

HE Bangko Sentral ng Pilipinas (BSP) reported a slight decrease in the country’s dollar reserves at the start of the year, bucking the 12 consecutive months of increase in gross international reserves (GIR) in 2020. The country’s GIR hit $108.8 billion in January this year, slightly declining from its $110.12-billion level in December 2020. The decrease was largely brought about by the downward valuation of the BSP’s gold holdings, as well as the lower income from its foreign investments during the year. The country’s GIR is the level of foreign-exchange holdings that is being managed by the Central Bank during a given period. It is a crucial component of the economy as it is often used to manage the country’s

foreign-exchange rate against excess volatility. The Philippine GIR has been rising steadily for the whole of 2020 amid the pandemic, as the local currency remained strong against the US dollar. Despite the January decline, the BSP said the current GIR level still represents an adequate external liquidity buffer, which can help cushion the domestic economy against external shocks. In particular, the current GIR level is still equivalent to around 11.6 months’ worth of imports of goods and payments of services and primary income. It is also about 9.4 times the country’s short-term external debt based on original maturity, and 5.1 times based on residual maturity, ac-

FILE PHOTO

PHL GIR snaps 12-month hike in January

cording to the Central Bank. The BSP attributed the monthon-month decrease in the GIR level to outflows, mainly from the foreign-currency withdrawals of the national government (NG) from its deposits in the BSP to pay its foreign-currency debt obligations,

and revaluation adjustments from the BSP’s gold holdings as the price of gold declined in the international market. The decline could have been larger, if not partly offset by the inflows from the BSP’s foreignexchange operations. Bianca Cuaresma

REMITTANCES DOWN ONLY SLIGHTLY IN ‘20

Tuesday, February 16, 2021 Vol. 16 No. 128

P25.00 nationwide | 2 sections 20 pages |

ECONOMY TO TRACK ‘DIRTY’ L-SHAPED RECOVERY IN 2021 By Tyrone Jasper C. Piad

A woman drives past the Zuellig Pharma Corporation office in Parañaque on Monday, February 15. Reports said at the weekend that it is ready to manage Covid-19 vaccines with its cold chain facilities after expanding its capacity. Zuellig Pharma’s chief business officer Janet Jakosalem said in an interview they can provide all the temperature requirements for the vaccines. NONIE REYES

By Bianca Cuaresma

@BcuaresmaBM

ILIPINO migrant workers were able to pull through and send almost as much money back home during the pandemic as they did before the global health crisis, data from the Bangko Sentral ng Pilipinas (BSP) showed.

The BSP announced on Monday that overseas Filipino workers’ (OFW) cash remittances to the Philippines hit $29.9 billion for the full year of 2020, only $230 million short of what they sent— $30.13 billion -- when the global economy was not affected yet by

the pandemic in 2019. The 0.8-percent decline in remittances also exceeded the BSP’s expectations that remittances will decline by about 2 percent. By source, cash remittances from Saudi Arabia, Japan, the United Kingdom (UK), the United

Arab Emirates (UAE), Germany, and Kuwait declined, while those from the United States (US), Singapore, Canada, Hong Kong, Qatar, South Korea, and Taiwan increased. The US posted the highest share of the total remittances at 39.9 percent, followed by Singapore, Saudi Arabia, Japan, the UK, the UAE, Canada, Hong Kong, Qatar, and South Korea. The combined remittances from these areas accounted for 78.6 percent of the total cash remittances during the year. “Overseas Filipinos find a way again. Remittance flows bucked the general expectation for a substantial contraction in 2020 with Overseas Filipinos [OFs]

managing to send home muchneeded funds despite the challenges faced on the economic and health front,” ING Bank economist Nicholas Mapa said. “Initially, analysts had expected an alarming drop in remittances as the usual ‘hedge’ against a downturn was negated with the virus striking just about every country across the globe. Despite lockdowns, threats to health, the shutdown of the cruise line industry and repatriation due to widespread job losses abroad, remittances fell by only 0.8 percent, with OFs finding a way to send home much-needed funds to help support their loved ones,” he added. Continued on A2

BSP seen to keep policy rate, RRR on hold

FTER a year of aggressive monetary-policy easing, the Bangko Sentral ng Pilipinas (BSP) is expected to hold monetary-policy settings unchanged for the entire 2020, a banking economist said. Speaking at ING’s Economic

Briefing on Monday, ING Bank economist Nicholas Mapa said the Central Bank will likely keep both the main monetary-policy rate and the reserve requirement ratio (RRR) of banks on hold for the entire year. “By pausing, they are keeping

PESO exchange rates n US 48.0320

the 2 percent as it is still quite accommodative. They are keeping the support in terms of monetary stimulus while at the same time pausing from their recent rate cut cycle given the inflation dynamics right now,” Mapa said. In 2020, the BSP aggressively

cut its interest rates to spur activity in the local economy. In total, the Central Bank has already cut its rates by 200 basis points to push its overnight reverse repurchase rate at an all-time low of 2 percent. See “BSP,” A2

@Tyronepiad

FTER Covid-19 erased three-year economic gains, the Philippine is bound to have a “dirty” Lshaped recovery in 2021, an economist said, anticipating an average growth of 4.7 percent. ING Bank Manila Economist Nicholas Antonio T. Mapa said in an online briefing on Monday that the Philippine economy began this year with a low base after gross domestic product (GDP) contracted by 9.5 percent on average in 2020 as a result of the pandemic-induced lockdown protocols. With this, Mapa noted that the P4.9-trillion economy prior to the pandemic saw a drop to P3.9 trillion last year, which is the same GDP level in 2016. “We can say in some sort of fashion that Covid-19 wiped out three years’ worth of economic gains,” Mapa said. “We are now operating at that base.” Considering this, he said that a 3.4-percent decline in GDP is likely in the first quarter. It is expected to recover to 13 percent in second quarter; 5.9 percent in third quarter; and 5 percent in fourth quarter. The forecast hinges on many factors, including a “not too rosy” job market outlook, he said, which will affect private consumption spending—a major GDP contributor. While the easing of lockdown measures paved the way for some job creation, Mapa said the country is still behind. “With no income, it is difficult for us to expect a strong bounce back for a good portion of the society,” he explained. The unemployment rate, to recall, peaked at 17.7 percent in April last year before going down to 8.7 percent in October. Both figures, Mapa noted, are above the 5.5-percent average jobless rate prior to the pandemic. The downturn in job oppor-

tunities, in turn, affected the consumer confidence, Mapa said, noting that the consumer expectations index—as reported by the Bangko Sentral ng Pilipinas—slid to -47.9 percent from pre-pandemic 1.3 percent. “This [consumer confidence] is actually tied to your job prospects, job security. With that type of job market, you cannot expect to have consumer confidence,” he explained. Mapa said some consumers may do revenge shopping, but it would not be at the same pace prior to the pandemic.

Capital formation weak

Meanwhile, Mapa also said that capital formation may not likely return soon given that bank lending is currently in decline as businesses are reluctant to invest or expand. Outstanding loans of universal and commercial banks declined by 0.7 percent in December 2020—the first contraction in 14 years. “Even if BSP has cut [the policy rates] rather aggressively, borrowing costs have not really followed suit in 2020. The spread is actually quite substantial,” he said. “This has been tied to banks being a little more circumspect in giving out loans for the mere fact that there is a lot of risk out there.” The overnight reverse repurchase facility is currently at 2 percent after a total cut of 200 basis points last year. In terms of consumer loans, Mapa is also not seeing immediate recovery. “Given the struggles on the ground with the job market still quite challenging, maybe some bounceback once again [on] base effects will roll in by early next year. But a true return to the double-digit sustained level of expansion in consumer loans may be closer to end-2022 when the job market hopefully stabilizes,” he explained. Continued on A2

n japan 0.4576 n UK 66.5531 n HK 6.1956 n CHINA 7.4651 n singapore 36.2615 n australia 37.3017 n EU 58.2436 n SAUDI arabia 12.8068

Source: BSP (February 15, 2021)

News

BusinessMirror

A2 Tuesday, February 16, 2021

EVEN SMALL NUMBER OF VOTERS CAN DECIDE SPLITTING OF PALAWAN

HE plebiscite for the possible division of Palawan into three separate provinces can be decided even with only a few of its locals casting their voters, according to the Commission on Elections. Comelec Commissioner Antonio Kho said on Monday the outcome of the plebiscite will be decided by the majority of the votes cast rather than a certain threshold. Nevertheless, he said they will try to make sure that most of the 490,639 registered voters in Palawan will be able to participate in the plebiscite to make sure its outcome will reflect the decision of most Palaweños. “We cannot really determine at this point in time if there will be high voter turnout as this will be the first time we will be holding an electoral exercise with a public health emergency. But we hope and we encourage voters to have a high turnout,” Kho said in a recent online forum. Preparations by the poll

body for the plebiscite slated on March 13, 2021 is now ongoing. L a st T hu rsd ay, Come lec started the information campaign for the plebiscite, through online, televised, or radio-aired messages running until March 11, 2021. Comelec also ended on Monday the accreditation for foreign and domestic observers, who will be monitoring the conduct of the plebiscite. Those accredited will be given passes granting them access and other privileges relating to the conduct of the plebiscite. “The passes may be confiscated and the accreditation revoked for violation of the guidelines of the accreditation,” Comelec said in a statement. The outcome of the plebiscite will determine if Republic Act 11259 or the Act Dividing the Province of Palawan into three provinces—Palawan del Norte, Palawan Oriental, and Palawan del Sur—will be ratified or not. Samuel P. Medenilla

DOH: No community spread of UK variant D

By Claudeth Mocon-Ciriaco | Correspondent

ESPITE the country’s having recorded a total of 44 B117 or UK variant cases, Health Undersecretary Maria Rosario Vergeire maintained on Monday that there is still no community transmission in the country. Vergeire, meanwhile, disclosed that one of the reported 19 additional UK variant cases was linked to an employee of the Metro Rail Transit (MRT) 3. The Department of Health (DOH) official said the child of a 46-year-old mother is working in the MRT. Her child tested positive for Covid. Despite the additional cases positive for UK variant, Vergeire said there is still no evidence to confirm an ongoing community transmission. “The samples that we get are still not at that level that we can say [and] can already provide us with that predictive factor for community transmission,” Vergeire said.

She also said that due to different airline protocols, they encountered logistical issues for the samples that were scheduled to be sequenced coming from the provinces. The DOH, she said, has already coordinated with the Office of Civil Defense to help them deliver the samples to the University of the Philippines-Philippine Genome Center (UP-PGC). The Covid cases in the country surged to 550,860 as of February 15. On Friday, 19 additional Covid-19 cases positive for the UK variant were detected. The DOH said the UP-PGC, and the UP-National Institutes of Health

Roque: No extortion, just fair payment for VFA

ALAC AÑANG said on Monday it simply wants “fair” compensation from the United States (US) government to extend the validity of the Visiting Forces Agreement (VFA). In an online press briefing on Monday, Presidential spokesperson Harry Roque said the country should get “something similar” to the financial compensation given by the US to Pakistan. Citing a study from the Stimson Center, he said the US paid $16.4 billion to Pakistan in 2017 and only $3.9 billion to the Philippines. “We are basing it on the fact that we have had historically very strong ties and if you have very strong ties with a very strong ally, then I think it also comes with a higher amount of financial assistance to be given,” Roque said. The VFA was supposed to be scrapped in August 2020 upon the

instructions of President Duterte. The President, however, later opted to suspend the six-month termination process, which would have followed Manila’s service of the notice of termination in February. The two-decade military pact, which allows American military forces to enter the country for joint training with Philippine troops, was thus extended to this year. It is seen as a key support to the 1951 Mutual Defense Treaty (MDT) that China critics have said is crucial to maintaining the balance of power in an area wracked by sea tensions.

No extortion

Roque issued the statement to defend the remark made by Duterte last week that he wants the US to “pay” for allowing the continuation of the VFA. Duterte’s pronouncement drew criticisms from several government

official, who likened it to extortion. Roque belied “extortion” angle, saying the government is merely demanding for just compensation, especially since the local presence of the US military forces, puts the country’s security at risk. “It is not extortion—that is establishing the national interests of Filipinos,” Roque said. The government could use the additional funding for its measures to address the Covid-19 pandemic, Roque said. However, he clarified that the government will not be asking for free Covid-19 vaccine from the US as a condition for maintaining the VFA. “We are not begging for the vaccines because we are going to pay for it. In fact, initial mode of payment is through the financing window offered by the ADB and the World Bank,” Roque said.

Nothing to lose

Aside from poor compensation, Roque noted the government is now reviewing the value of the MDT and VFA with the US after both failed to deter the entry of Chinese forces in disputed territories in the West Philippine Sea. He pointed out had the US government honored its obligation in assisting the country, China may have not been able to build structures in the Panatag Shoal. “There are so many islands we have lost—not just Panatag—and yet America did not help us. The consistent position of the US is that when it comes to the territorial dispute in the West Philippine Sea, America does not take sides,” Roque said. “So the question of everybody is [of] what use is the Mutual Defense Treaty if we cannot use it when we lose our territory,” he added.

Villanueva added: “If we measure the flow of money from OFWs daily— like a taxi meter— it would be P4.276 billion a day, P178.17 million an hour, and almost P3 million per minute.” Besides the huge economic boost from remittances, OFWs are also a “source of great pride” for the Philippines, and “as such, their contributions need to be met by equally efficient and timely government services,” said Villanueva. Today, he reported, there are Filipinos in every time zone, every conti-

BSP…

Continued from A1

Just last week, the BSP decided to keep all monetary policy levers untouched, alongside their infla-

nent, and every sea, adding: “The sun never sets on the Filipino Diaspora. We are virtually the world’s human resource provider, from bedside care to artificial intelligence. “As we speak, Filipinos are digging oil from the frozen tundras to the blazing hot sands of Sahara...Hospitals everywhere also benefit from “Made in the Philippines” talents... [Even classrooms in] America, Thailand, Japan and Mongolia have been penetrated by Filipino teachers,” the senator reported. Butch Fernandez tion forecast revision to 4 percent on average for 2021. This is after inflation hit a twoyear high in January at 4.2 percent, overshooting the government’s annual 2 to 4 percent target range on average for the year.

Given the economic setback, Mapa said the government sector is anticipated to “step up to the plate” to boost business activities. While the 2021 budget of P4.506 trillion was 10 percent higher than last year, it may not be enough still. “Yes, it is the biggest budget in history; however, [it] may not be commensurate to the drop down in

“As most people have noted, the BSP has done most of the heavy lifting so I think they pause for now. This pause allows them to still provide stimulus given the low rates and at the same time keep their inf lation targeting

case last January 21, and is currently experiencing mild symptoms. Eight of these cases are Returning Overseas Filipinos (ROF) who were tested at different ROF catchment laboratories. Four of them are males while four are females, all aged between 28 and 53 years old. Six of the additional ROF cases are currently being managed in ROF isolation facilities, while two cases have been tagged as recovered. Lastly, six cases are currently being verified as to whether these are local cases or ROFs. Case investigation and contact tracing shall also immediately be initiated by the DOH through the Centers for Health Development and regional epidemiology and surveillance units (RESU), in close coordination with concerned LGU local health offices, local epidemiology and surveillance units, and law enforcement. The DOH acknowledged the help of the UP-PGC, UP-NIH, RESUs, and laboratories in the conduct of biosurveillance, and the National Bureau of Investigation in locating reported cases and their contacts.

REMITTANCES DOWN ONLY SLIGHTLY IN ‘20 Continued from A1

GDP,”he said. The ING economist said the economy could further grow to 5.1 percent this year if the lockdown measures are further eased. Recently, the government announced that cinemas are allowed to open in areas under the general community quarantine. They are required to limit their capacities to only 30 percent and provide ventilation as part of safety protocols.

Despite the Filipino migrant workers’ reputed “altruistic” and “heroic” nature in 2020, the performance of remittances and its contribution to the economy is still uncertain for this year as more and more OFWs are losing jobs and being repatriated due to the stale global economy. According to Rizal Commercial Banking Corporation (RCBC) economist Michael RIcafort, remittances could still continue to contract year-on-year after the holiday season in 2020 until some of the repatriated, retrenched and laid-off OFWs restore or regain the jobs they have lost in the same host country or in another host country, or until constraints ease further on travel. “Realities about increased number of OFWs repatriated back to the Philippines and reduced OFW remittances already started to set in, with more than 300,000 OFWs repatriated since February 2020 out of an estimated 500,000 adversely affected OFWs. This is amid risks

price stability mandate upheld,” Mapa said. “Rate cuts are off the table for now, given the inflation dynamics; and even when inflation fades towards the end of the year, I still think that the governor will keep to it with the long pause for the full year,” he added. Rate hikes are also out of the question, Mapa said, as the economy remains weak and monetary policy tightening will likely do more harm than good for the economy. “So with the labor market slack and the general weakness in the economy, we can’t see the BSP reacting quite aggressively to this inflation spike,” Mapa said.

“Another thing is, the last time inflation breached the target was in 2018 when inflation hit 6.7 percent. Back then the currency was weaker by about 9 to 10 percent at the worst of it. Where the peso is right now should mitigate some of that imported inflation and we will likely see a not as high a peak as we saw in 2018,” the economist added. As for the reserve requirement ratio (RRR), Mapa said the BSP is also likely to keep it at current levels as the economy is flushed with liquidity, with banks refusing to lend. “With all the liquidity that is out there, it is not likely that they will resort to adding another P200 billion. That is just probably going

to return to them. I think the RRR decision is likely to be on hold given that no matter what liquidity they release in the system, it is likely to just stay with them,” Mapa said. There is not a lot of movement in bank lending yet, he added, so “any changes to RRR anytime soon” are not likely. Earlier this month, the BSP announced that bank lending entered contraction territory for the first time in 14 years at the end of 2020. BSP data showed that the outstanding loans of universal and commercial banks declined by 0.7 percent in December 2020, further decelerating from the 0.5 percent growth seen in November.

L-SHAPED RECOVERY IN 2021 Continued from A1

(UP-NIH) have also confirmed that no other variant of concern was detected, and 60 samples from Region 7 fitting sequencing criteria were negative for the UK variant. The 19 additional cases were part of the sixth batch of 718 samples sequenced by the UP-PGC on February 8, 2021. The sixth batch of samples were sourced from all regions, except BARMM, and were selected to ensure representation of each region as well as areas where spikes in cases have been reported. Three of the 19 cases have indicated current addresses in Region 11: one 10-year-old male, one 54year-old female, and one 33-yearold male. All three cases currently do not have any known link to each other. These cases are currently active with mild symptoms. Two cases have indicated addresses in Calabarzon. One is a recovered 20-year-old female who was swabbed last December 22, 2020 and has unknown exposure. The other case is a 76-year-old female with exposure to a positive

of further lockdowns and travel restrictions in some OFW host countries brought about by the new coronavirus variants/strains that are more contagious,” Ricafort said. What would be crucial, economists said, is the effectiveness of the vaccination rollout in host countries and its ability to restore the global economy for 2021. “We expect remittance flows to remain flat—or only modest growt—in 2021 with the return of sea-based OFs helping offset the substantial number of OFs sent home over the course of 2020,” Mapa said. “Meanwhile, w ith vaccinat ion rol louts ongoing across the globe, job prospects may brighten for OFs in the coming months, which will be crucial in supporting sagging domestic incomes due to severe job losses and poor consumer confidence,” he added. “A n important positive offsetting factor is the increased development and deploy ment/ rollout of vaccines for Covid-19 in many countr ies worldw ide into 2021, especia lly in major host countr ies of OFWs, thereby [such] could help reduce new coronav ir us cases and further i mp r o v e e c o no m i c r e c o v e r y prospects t hat lead to more jobs/employ ment oppor t u n ities for OFWs than other w ise, resu lting to improvement in OFW remittances data,” R icafort said.

Villanueva pushes creation of OFWs dept ECONOMY TO TRACK ‘DIRTY’ Continued from A12

www.businessmirror.com.ph

In December, however, cash remittances coursed through the banks fell slightly by 0.4 percent to $2.89 billion from $2.902 billion in December 2019. In particular, cash remittances from land-based workers fell by 0.7 percent to $2.297 billion, while that of sea-based workers increased by 0.8 percent to $593.2 million.

Future uncertain

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Tuesday, February 16, 2021 A3

Tuesday, February 16, 2021

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Editor: Vittorio V. Vitug

PHL at risk of missing housing goal under PDP due to Covid By Cai U. Ordinario

@caiordinario

HE country is at risk of missing its housing target under the updated Philippine Development Plan (PDP) given the lockdowns imposed to contain the spread of Covid-19, according to the Department of Human Settlements and Urban Development (DHSUD). At a press conference on Monday commemorating the 2nd anniversary of the DHSUD, Secretary Eduardo del Rosario said the agency was only able to achieve 70 percent of its targets in 2020. It will be noted that the lockdown, in a survey last year, the National Economic and Development Authority (Neda) said the construction sector was one of the hardest hit sector in terms of job loss. A total of 689,974 jobs were lost during the enhanced community quarantine (ECQ). “With the pandemic in 2020, this accomplishment percentage was lowered and I think for this year we only accomplished about 70 percent of our target for 2020. So this will pull down our accomplishment for the whole 2017 to 2022,” del Rosario said. Under the PDP, the DHSUD committed to increase the percentage of socialized housing units delivered to 73 percent from the 54 percent baseline in 2016, as well as deliver 100 percent on its low-cost housing targets every year. Further, the PDP targets included increasing the proportion of local government units with Comprehensive Land Use Plan (CLUP) to 31 percent by 2022 from the 27 percent in 2019. The updated PDP also stated that housing targets that were adjusted to meet the Sustainable Development Goals (SDGs) included decreasing the proportion of the urban population living in informal settlements to 2.35 percent from 3.2 percent in 2015. The list also included increasing the proportion of families with owned or owner-like possession of housing units and access to secure tenure to 77.68 percent and 98.26 percent by 2022, respectively. In 2016, around 61 percent of families with owned or owner-like possession of housing units,

while the proportion of families with access to secure tenure was at 97 percent. “As of 2019, we have achieved 97 percent of our [targets] so basically, without the onset of the pandemic, we have achieved the goal, the targets of the DHSUD from 2017-2022 until December of 2019,” del Rosario, however, said. Despite this, the DHSUD vowed to continue efforts to provide affordable and sustainable housing for more Filipinos this year. Del Rosario said these efforts will include digitization which would lead to streamlined processes to eliminate unnecessary permits and licenses. The Subdivision and Housing Developers Association, Inc. (SHDA) earlier told the BusinessMirror that before developers can lay down the foundation for a project, they need to secure the approval of no less than 27 different offices or agencies. Going through the process will require them to secure 78 permits signed by 146 signatories that are contained in 373 documents. These regulatory costs could make housing projects at least 10 percent more expensive. “If we digitize and we’ll have a database of all assessments, zonings nationwide, we can eliminate permits and licenses. If a certain area is classified as residential already, then we don’t need a conversion or certificate of land conversion from [agencies like] the Department of Agriculture [DA]. We can minimize all the requirements in terms of conversions and permits in other agencies,” del Rosario explained. In order to do this, del Rosario said the DHSUD will be organizing a one-stop shop that would involve the participation of other agencies in the process. These agencies include the DA, Department of Environment and Natural Resources, Department of Agrarian Reform, and the Land Regulatory Authority, among others. Del Rosario said the DHSUD will sit down with these agencies to discuss and identify the gaps and redundant permits, policies, and signatories to eliminate these and help bring down the cost of housing.

Moving Philippine foreign trade-in and out

By Michael K. Raeuber

T is disappointing to recognize that foreign shipping lines carry ALL Philippine containerized imports and exports. No Philippine flag carrier participates for several decades already. That can and may change if and once the Maritime IndustryAuthority(Marina)permitsdomesticshipownersorshippinglinestooperateaPhilippineflagcontainer shipping line to operate within Asia regionally, as well as to and from the Philippines, under one registry. In that case, local shipping lines will have to measure up and meet the international standards set forth by the International Association of Classification Societies (IACS), which may be good for all, including its crew and the public. If some local shipping lines, MCC and IRIS Logistics, per example, can comply with the IACS standards— others can as well. In contrast, our neighbors have their flag shipping lines carrying their international trade. The Philippines has none. With investors willing to fund our international shipping line, Marina now has an opportunity to let the world see us carrying at least some of our goods. And participate in clean competition with others to participate in this regional market for their transports, same as they compete for ours. The beginning of the Philippine “Blue Economy.” Our four Philippine flag commercial airlines, i.e., Cebu Pacific, Phil Air Asia, Philippine Airlines, and Skyjet, carry most of the country’s international and domestic cargoes. A Philippine Flag, container shipping line catering to foreign and domestic shipments may do the same once realized. What will the Philippines/the Philippine government gain by allowing Philippine flag vessels to operate domestically and internationally in one registration? The Philippine registered company will pay local income and other taxes for businesses done here and abroad. Foreign registered shipping lines pay carriers taxes but no income or other taxes in case of substantial destination charges/services, even as they claim these charges not to be part of “freight.” Neither do they

pay taxes locally for freight income generated abroad. Access to foreign financing for the purchase of ships will be enabled if the ship mortgage law will be amended by the government Freight revenues, profits, and taxes stay in the country instead of being remitted abroad Importers will be protected from the imposition of excessive surcharges. They will now have alternative options to import goods at lower costs due to real competition in a functioning market. As a consequence, local consumers will buy imported products at a reduced landed cost as frivolous surcharges are gone. Thisprojectwillpavethewayforalldomesticcarrierstoconsidergoinginternational,therebygiving workto displaced seafarers for as long as the local vessels comply with international maritime safety standards. Once domestic companies start to engage in international trade, foreign-flagged carriers will have competition from Philippine flag carriers Government imports such as rice, sugar, G to G projects can and will be carried by Philippine flags as the flag law requires Per research done by the United Nations Comtrade, Thailand, and Vietnam, exports to the Philippines in 2019 were $6.47 billion and $3.46 billion, respectively. For 2019, the Philippines imported $112.9 billion and exported $70.3 billion worth of goods worldwide based on data gathered. Byvalue,thePhilippinesexported67.7percent toAsian countriesandimported78.8percentfromtheirfellowAsian countries. Imagine all the possible benefits if at least some of these trading activities will be carried by Philippine flag shipping lines servicing Intra-Asia routes. The good news is that Marina has formed a working group to evaluate these arguments and, if found meritorious to establish what needs to be done to implement change. In partnership with the private sector, Marina should, as they may do already, study the best way to attract investments in shipping that will uplift the country’s flag registry and the Philippines becoming a leading maritime services center in the region. Let us create the Philippine blue economy: The role of shipping in the Philippine economic growth WE started looking at “The role of shipping in economic growth” already in 2018. Being focused on creating economic opportunities for 2021 and beyond, it makes sense to see the shipping sector as part of the Maritime Blue Philippines’s economic potential. Why now? Shipping in Asean becomes more critically crucial after global trade is affected by the policies in Washington, and Europe is looking at Asia as a focus for trade and investments. Michael K. Raeuber is the Group CEO of the Royal Cargo Group of companies and is the vice chairman of the Integrity Initiative Inc. Feedback is welcome; please contact him at Michael.raeuber@royalcargo.com

BusinessMirror

Tuesday, February 16, 2021

ESTABLISHMENT / ADDRESS NO.

FOREIGN NATIONAL / NATIONALITY

ESTABLISHMENT / ADDRESS POSITION

8 STONE BUSINESS OUTSOURCING OPC 5/f To 10/f, Tower 4 Pitx #01 Kennedy Road Tambo Parañaque City 1.

YAN, HUIHUI Chinese

CHINESE SPEAKING GRAPHIC DESIGNER

YANG, JIANCHUN Chinese

CHINESE SPEAKING GRAPHIC DESIGNER

YANG, XIAOQU Chinese

CHINESE SPEAKING GRAPHIC DESIGNER

YANG, XU Chinese

CHINESE SPEAKING GRAPHIC DESIGNER

YANG, ZHEN Chinese

CHINESE SPEAKING GRAPHIC DESIGNER

YE, JIALI Chinese

CHINESE SPEAKING GRAPHIC DESIGNER

YU, JIAJIA Chinese

CHINESE SPEAKING GRAPHIC DESIGNER

ZHANG, JUN Chinese

CHINESE SPEAKING GRAPHIC DESIGNER

DAI, JUN Chinese

CUSTOMER SERVICE REPRESENTATIVE

10.

HE, LIN Chinese

CUSTOMER SERVICE REPRESENTATIVE

11.

LIU, DONG Chinese

CUSTOMER SERVICE REPRESENTATIVE

12.

WANG, XIN Chinese

CUSTOMER SERVICE REPRESENTATIVE

13.

YI, CHUANZHENG Chinese

CUSTOMER SERVICE REPRESENTATIVE

14.

ZHANG, LONG Chinese

CUSTOMER SERVICE REPRESENTATIVE

15.

WANG, SHOUYU Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

AMUSETECH BUSINESS OUTSOURCING 2/f Rivergreen Residences 2217 Pedro Gil St. 096, Bgy 880 Santa Ana Manila 16.

TSAI, MENG-CHIH Taiwanese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

ANOC99 CORPORATION 5/f Ayala Malls Manila Bay Building D. Macapagal Blvd. Cor. Aseana Street Tambo Parañaque City

NO.

ESTABLISHMENT / ADDRESS

FOREIGN NATIONAL / NATIONALITY

POSITION

NO.

48.

SHI, YINKUN Chinese

MANDARIN LANGUAGE SPECIALIST

49.

ZHOU, CHUANGBO Chinese

MANDARIN LANGUAGE SPECIALIST

90.

91.

BIOCARE LIFESCIENCES INC. 4/f Goodwill Bldg. 393 Sen. Gil Puyat Ave. Bel-air Makati City 50.

PANT, SIDDHARTH Indian

BUSINESS DEVELOPMENT CONSULTANT

BIPO SERVICE PHILIPPINES INC. 10/f South Tower Sheridan Rockwell Business Center Mandaluyong City 51.

TERESIA Indonesian

HR SERVICE DELIVERY SENIOR CONSULTANT

CHINA ENERGY ENGINEERING GROUP GUANGDONG ELECTRIC POWER DESIGN INSTITUTE CO. LTD., (PHILIPPINES) BRANCH U-1205 12/f 6750 Ayala Bldg. Ayala Ave. San Lorenzo Makati City 52.

LUO, BO Chinese

DEPUTY PROJECT MANAGER

53.

LI, ZHUOHUI Chinese

DESIGN MANAGER

54.

WU, ZHENGBIN Chinese

DESIGN MANAGER

CHINA GEZHOUBA GROUP CO., LTD. (PHILIPPINES BRANCH) 910 High Street South Corporate Plaza Tower One 26th Street Fort Bonifacio Taguig City 55.

WU, RENYI Chinese

GENERAL MANAGER

COSMOLINK GLOBAL SOLUTIONS INC. Flr. No. 6th, 7th & 8th Bldg. No. 100 Necc Bldg., Andrews Ave. St. Newport City Subd. District 1, Barangay 183 Pasay City 56.

LIN, YUANPENG Chinese

CUSTOMER SERVICE REPRESENTATIVE

57.

LUO, FEI Chinese

CUSTOMER SERVICE REPRESENTATIVE

58.

ZHANG, JIANGHUANG Chinese

CUSTOMER SERVICE REPRESENTATIVE

CUSHMAN & WAKEFIELD PHILIPPINES INC. Unit 901 & 906 9th Flr Ecotower 32nd St. Cor. 9th Ave., Bonifacio Global City Fort Bonifacio Taguig City 59.

COOPER, RANDAL WAYNE Canadian

IFM PROGRAMME DIRECTOR

DAXIFA CORPORATION Mpire Center 93 West Avenue Project 7 Bungad 1 Quezon City 60.

XU, JING Chinese

MANDARIN SPEAKING CUSTOMER REPRESENTATIVE

DIGISPARK TECH CORP. Unit 1618 High Street, South Corporate Plaza, Tower 2 26th St. Corner 9th Ave. Bgc Fort Bonifacio Taguig City

17.

CHEN, MINGDE Chinese

CHINESE CUSTOMER SERVICE

18.

CHEN, WENCHENG Chinese

CHINESE CUSTOMER SERVICE

19.

ERWIN Indonesian

CHINESE CUSTOMER SERVICE

20.

HAN, QINGHAO Chinese

EASTERN GOLD CORPORATION 503 Nueva St Binondo Manila

CHINESE CUSTOMER SERVICE

63.

21.

HUANG, CHENGJIN Chinese

CHINESE CUSTOMER SERVICE

22.

HUANG, WEIJIN Chinese

CHINESE CUSTOMER SERVICE

FLYING DRAGON NETWORK PHILIPPINES INC. 4th-11th Floor Aseana 3 Building Aseana Avenue Corner Diosdado Macapagal Tambo Parañaque City

HUANG, ZHONGCAN Chinese

CHINESE CUSTOMER SERVICE

24.

JEFFREY LEOPARDJO Indonesian

25. 26.

61.

YANG, BIFEN Chinese

IT COORDINATOR

62.

WU, HUAHUA Chinese

MARKETING EXECUTIVE

FENG, WENLI Chinese

MARKETING AND SALES AGENT

64.

CAO, HANG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

65.

CAO, GUIHUA Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

CHINESE CUSTOMER SERVICE

66.

CHEN, JIAXING Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

LI, CHENGCHENG Chinese

CHINESE CUSTOMER SERVICE

67.

CHEN, TINGTING Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

LIANG, XIANBIN Chinese

CHINESE CUSTOMER SERVICE

68.

CHENG, KEROU Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

LIANG, WUXIANG Chinese

CHINESE CUSTOMER SERVICE

69.

DENG, XIAOBING Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

MO, FAKUN Chinese

CHINESE CUSTOMER SERVICE

70.

HUANG, YAO Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

NGUYEN ANH TUNG Vietnamese

CHINESE CUSTOMER SERVICE

71.

LI, XIAOSHUANG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

NGUYEN THANH LE Vietnamese

72. CHINESE CUSTOMER SERVICE

LIU, BAO Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

31.

RAO, JIE Chinese

73.

CHINESE CUSTOMER SERVICE

LUO, GUANGQUAN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

74.

CHINESE CUSTOMER SERVICE REPRESENTATIVE

32.

SONG, RONGKAI Chinese

LYU, DUANXIA Chinese

CHINESE CUSTOMER SERVICE

75.

CHINESE CUSTOMER SERVICE REPRESENTATIVE

33.

TIMJEEN, SUWANUN Thai

TANG, RONGLEI Chinese

CHINESE CUSTOMER SERVICE

76.

WANG, ZHIYI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

TRAN DINH TAI Vietnamese

CHINESE CUSTOMER SERVICE

77.

WANG, CHUNAN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

78.

WANG, ZHIXIONG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

79.

YANG, ZHONGDING Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

80.

ZHANG, GUOWEI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

81.

ZHANG, YU Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

82.

ZHAO, LIJUN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

83.

ZHOU, YONG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

84.

ZHU, DONGSHENG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

85.

ZOU, YUANSHAN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

23.

27. 28. 29. 30.

34.

VUONG TRUONG THINH Vietnamese

CHINESE CUSTOMER SERVICE

36.

YANG, HAILONG Chinese

CHINESE CUSTOMER SERVICE

37.

YAO, LINPING Chinese

CHINESE CUSTOMER SERVICE

38.

ZHANG, GUANGHUA Chinese

39.

ZHANG, YONG Chinese

CHINESE CUSTOMER SERVICE

40.

ZHANG, ZILIANG Chinese

CHINESE CUSTOMER SERVICE

41.

ZHOU, HUAQIN Chinese

CHINESE CUSTOMER SERVICE

35.

CHINESE CUSTOMER SERVICE

BAYVIEW TECHNOLOGIES, INC. 43/f Yuchengco Tower Rcbc Plaza Ayala Ave. Cor. Sen. Gil Puyat Ave. Bel-air Makati City

GALAXIER INC. Unit 1 & 3 14/f Sshg Law Center Sycip Law Center 105 Paseo De Roxas San Lorenzo Makati City

42.

CAI, TIANWEN Chinese

CS ASSISTANT MANAGER (MULTI-LINGUAL)

86.

43.

BI, CHUNNING Chinese

CUSTOMER SUPPORT (MULTILINGUAL)

GATEWAYSOLUTIONS CORP. 8/f Edsa Cor. Sultan Brgy. Highway Hills Mandaluyong City

BIG EMPEROR TECHNOLOGY CORP. Eastfield Center Cbp1, Macapagal Blvd. Brgy. 076 Pasay City 44.

HO, CHIH-HAO Taiwanese

COMPUTER SYSTEM ANALYST

45.

SU, TIANZHI Chinese

MANDARIN CUSTOMER SERVICE

46.

CAI, ZICHANG Chinese

MANDARIN LANGUAGE SPECIALIST

47.

DUAN, YANYAN Chinese

MANDARIN LANGUAGE SPECIALIST

87.

WANG, WEI Chinese

CAI, SHANSHAN Chinese

www.businessmirror.com.ph

CHINESE SPEAKING HARDWARE TECHNICIAN

CUSTOMER SERVICE REPRESENTATIVE

IDNPLAY CORPORATION 8/f Burgundy Corporate Tower 252 Sen. Gil J.puyat Ave. Pio Del Pilar Makati City 88.

GRANNOOJ, SARUN Thai

THAI-SPEAKING CUSTOMER SERVICE

89.

KHWANPIA, KITTIPHONG Thai

THAI-SPEAKING CUSTOMER SERVICE

FOREIGN NATIONAL / NATIONALITY

ESTABLISHMENT / ADDRESS POSITION

NO.

PORNPIBUL, SUTTHAPORN Thai

THAI-SPEAKING CUSTOMER SERVICE

127.

YANG, CHANGCHI Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

THAWILERTKASEM, PHOORIN Thai

THAI-SPEAKING CUSTOMER SERVICE

128.

YE, BAOXI Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

129.

YUAN, YUANXIZE Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

130.

ZHANG, HAIXIAO Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

131.

ZHANG, LONG Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

INFINI CONSULTANCY GROUP INC. Rm 2a 2/f Ma Daniel Bldg. 470 San Andres Cor. M H Del Pilar Sts. 077, Bgy. 701 Malate Manila 92.

XIAO, SUQING Chinese

MANDARIN TRANSLATOR

INFOVINE INC. 9/f Y Tower, Moa Complex Coral Way Drive Cor. Macapagal Brgy. 076 Pasay City

FOREIGN NATIONAL / NATIONALITY

POSITION

93.

CHEN, HONGBAO Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

132.

CHEN, CHAO Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

94.

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

ZHAO, ZHIHAO Chinese

133.

CHEN, HANG Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

95.

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

ZHAO, QIANG Chinese

134.

FAN, HONGWEI Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

96.

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

ZHOU, XIONG Chinese

135.

GAO, CHENGGANG Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

97.

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

ZHU, HAOFENG Chinese

136.

GOU, YUCHUN Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

98.

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

ZHU, PENGFEI Chinese

137.

GUAN, YUE Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

99.

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

ZHUANG, WENYI Chinese

INTEGRITY GLOBAL GROUP, INC. 2/f-3/f Ayala Malls Circuit A.p. Reyes Ave. Carmona Makati City

100.

HAN, XIAOWEI Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

138.

KITH, SIEKLENG Cambodian

CUSTOMER SERVICE REPRESENTATIVE (MANDARIN SPEAKING)

101.

HOU, JIAYONG Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

139.

TANG, SHUN Chinese

CUSTOMER SERVICE REPRESENTATIVE (MANDARIN SPEAKING)

102.

HU, RONG Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

140.

TU, BAOJUN Chinese

CUSTOMER SERVICE REPRESENTATIVE (MANDARIN SPEAKING)

103.

HUANG, JUNDA Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

ITECHNO SPECIALIST INC. 7/f Aseana I Bldg. Bradco Avenue Aseana Business Park Tambo Parañaque City

104.

HUANG, CANSEN Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

105.

HUANG, CHENGCHENG Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

106.

HUO, YAN Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

107.

JIANG, HAI Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

108.

JIANG, JUNJIE Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

109.

LI, XINGDA Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

110.

LIANG, SHENGGUI Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

111.

LIEW WEI KANG Malaysian

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

112.

LIM YIH HANN Malaysian

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

113.

LIN, KUN-LING Taiwanese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

114.

LIU, YUE Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

115.

LIU, JUNXUAN Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

116.

MEI, HONGQIANG Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

117.

MEN, YUNLONG Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

JIANGSU DIBANG CONSTRUCTION PHILIPPINES CORPORATION Unit 2106-a West Tower Psec Exchange Road, Ortigas Center San Antonio Pasig City

118.

RISSANCE WONG KIN SIONG Malaysian

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

159.

CAI, JINKUN Chinese

EQUIPMENT INSTALLATION SPECIALIST

119.

WANG, BANG Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

160.

ZHANG, ZHAOPEI Chinese

EQUIPMENT INSTALLATION SPECIALIST

120.

WANG, HUAN Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

121.

WANG, DONG Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

122.

WEI, YIHUI Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

123.

WU, BOTING Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

124.

XING, YUNXIANG Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

125.

XU, XIN Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

XU, RUI Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

126.

141.

CAO, GUOSEN Chinese

CHINESE IT SUPPORT SPECIALIST

142.

DUAN, YINGJUN Chinese

CHINESE IT SUPPORT SPECIALIST

143.

GONG, HUA Chinese

CHINESE IT SUPPORT SPECIALIST

144.

HU, JINJUN Chinese

CHINESE IT SUPPORT SPECIALIST

145.

HU, XINWEI Chinese

CHINESE IT SUPPORT SPECIALIST

146.

HUANG, YIFENG Chinese

CHINESE IT SUPPORT SPECIALIST

147.

JIA, NAN Chinese

CHINESE IT SUPPORT SPECIALIST

148.

JIANG, YU Chinese

CHINESE IT SUPPORT SPECIALIST

149.

LIU, GUIBIN Chinese

CHINESE IT SUPPORT SPECIALIST

150.

MA, DAQIANG Chinese

CHINESE IT SUPPORT SPECIALIST

151.

MENG, BO Chinese

CHINESE IT SUPPORT SPECIALIST

152.

OUYANG, JING Chinese

CHINESE IT SUPPORT SPECIALIST

153.

SHI, XINGYUE Chinese

CHINESE IT SUPPORT SPECIALIST

154.

TANG, BIN Chinese

CHINESE IT SUPPORT SPECIALIST

155.

TANG, HUAN Chinese

CHINESE IT SUPPORT SPECIALIST

156.

YANG, SHAOFEI Chinese

CHINESE IT SUPPORT SPECIALIST

157.

YANG, BO Chinese

CHINESE IT SUPPORT SPECIALIST

158.

ZHAN, XIANGFENG Chinese

CHINESE IT SUPPORT SPECIALIST

KONGANBUDDIES MARKETING INC. 48/f Lower Ground Pbcom Tower 6795 Ayala Ave. Cor. V.a. Rufino St. Bel-air Makati City 161.

TOMMY SUTANTO Indonesian

BAHASA CUSTOMER SERVICE REPRESENTATIVE

162.

DENNY PUTRA PRATAMA Indonesian

INDONESIAN CUSTOMER SERVICE REPRESENTATIVE

163.

DIAN ALVIAN Indonesian

INDONESIAN CUSTOMER SERVICE REPRESENTATIVE

164.

ELISABETH Indonesian

INDONESIAN CUSTOMER SERVICE REPRESENTATIVE

165.

HANA ROHNINGSIH Indonesian

INDONESIAN CUSTOMER SERVICE REPRESENTATIVE

166.

JESLYN Indonesian

INDONESIAN CUSTOMER SERVICE REPRESENTATIVE

167.

JHEVICA Indonesian

INDONESIAN CUSTOMER SERVICE REPRESENTATIVE

168.

JULIANA RATNASARI Indonesian

INDONESIAN CUSTOMER SERVICE REPRESENTATIVE

169.

MARTIN Indonesian

INDONESIAN CUSTOMER SERVICE REPRESENTATIVE

BusinessMirror

www.businessmirror.com.ph ESTABLISHMENT / ADDRESS NO.

ESTABLISHMENT / ADDRESS

FOREIGN NATIONAL / NATIONALITY

POSITION

NO.

170.

MARVIN KASIO Indonesian

INDONESIAN CUSTOMER SERVICE REPRESENTATIVE

230.

171.

SONDANG MASNIARI MANURUNG Indonesian

INDONESIAN CUSTOMER SERVICE REPRESENTATIVE

LI, SHUXIAN Chinese

MANDARIN MARKETING SUPERVISOR

172.

MEERA ENTERPRISES, INC. (MEERA TRADING) Jasra Bldg. 8062 Estrella Ave. San Antonio Makati City 173.

TOPPO, PREM LATA Indian

SALES MANAGER

MEGA-WEB TECHNOLOGIES INC. 6,7,8,9,10,11/f Met Live Bldg. Edsa Cor. Macapagal Blvd. Brgy. 076 Pasay City 174.

LIU, JIANGLIN Chinese

MANDARIN SPEAKING CUSTOMER RELATION SERVICE PROVIDER

175.

GUO, YINHUA Chinese

MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

176.

LI, XUEJIAO Chinese

MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

LIANG, JIANQIANG Chinese

MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

LIU, BIN Chinese

MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

177. 178. 179.

SHEN, LILEI Chinese

MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

MOA CLOUDZONE CORP. 4th-11th Flr. Nexgen Tower C4 Rd. Edsa Ext. Brgy. 076 Pasay City 180.

A LONE Myanmari

CHINESE CUSTOMER SERVICE

181.

CHEN, JIANWEI Chinese

CHINESE CUSTOMER SERVICE

182.

CHEN, WEN Chinese

CHINESE CUSTOMER SERVICE

183.

CHEN, DELIAN Chinese

CHINESE CUSTOMER SERVICE

184.

CHEN, GUODONG Chinese

CHINESE CUSTOMER SERVICE

185.

CHEN, YUELING Chinese

CHINESE CUSTOMER SERVICE

186.

CHEN, LIANG Chinese

CHINESE CUSTOMER SERVICE

187.

CHEN, YAN Chinese

CHINESE CUSTOMER SERVICE

188.

CHIN TIKE SHAN Myanmari

CHINESE CUSTOMER SERVICE

189.

CUI, YANG Chinese

CHINESE CUSTOMER SERVICE

190.

DAN, FU Chinese

CHINESE CUSTOMER SERVICE

191.

DENG, QICHAO Chinese

CHINESE CUSTOMER SERVICE

192.

DONG, CHENGHONG Chinese

CHINESE CUSTOMER SERVICE

193.

DONG, KANG Chinese

CHINESE CUSTOMER SERVICE

194.

DONG, YUNXIAN Chinese

CHINESE CUSTOMER SERVICE

195.

DU, QUANJIA Chinese

CHINESE CUSTOMER SERVICE

196.

DUAN CAI LE Myanmari

CHINESE CUSTOMER SERVICE

197.

FU, YANG Chinese

CHINESE CUSTOMER SERVICE

198.

GAO, JIAWEI Chinese

CHINESE CUSTOMER SERVICE

199.

GAO, HAIDONG Chinese

CHINESE CUSTOMER SERVICE

200.

GE, YINLONG Chinese

CHINESE CUSTOMER SERVICE

201.

GUO, KAI Chinese

CHINESE CUSTOMER SERVICE

202.

GUO, YING Chinese

CHINESE CUSTOMER SERVICE

203.

HE, JIPING Chinese

CHINESE CUSTOMER SERVICE

204.

HU, LEI Chinese

CHINESE CUSTOMER SERVICE

205.

HUANG, FUJIANG Chinese

CHINESE CUSTOMER SERVICE

206.

HUANG, JIANING Chinese

CHINESE CUSTOMER SERVICE

HUANG, PING Chinese

CHINESE CUSTOMER SERVICE

208.

HUANG, GANG Chinese

CHINESE CUSTOMER SERVICE

209.

HUANG, HEKAI Chinese

CHINESE CUSTOMER SERVICE

210.

JIA, YINGYING Chinese

CHINESE CUSTOMER SERVICE

211.

JIANG, YAN Chinese

CHINESE CUSTOMER SERVICE

212.

JIN, YONGQI Chinese

CHINESE CUSTOMER SERVICE

213.

KANG, YAXIN Chinese

CHINESE CUSTOMER SERVICE

214.

KE, WEIWEI Chinese

CHINESE CUSTOMER SERVICE

215.

LI, NING Chinese

CHINESE CUSTOMER SERVICE

216.

LI, TAOTAO Chinese

CHINESE CUSTOMER SERVICE

217.

LI, YANLING Chinese

CHINESE CUSTOMER SERVICE

218.

LI, JUNYAO Chinese

CHINESE CUSTOMER SERVICE

219.

LI, GUANGYE Chinese

CHINESE CUSTOMER SERVICE

220.

LI, LANG Chinese

CHINESE CUSTOMER SERVICE

221.

LIN, SHA Chinese

CHINESE CUSTOMER SERVICE

222.

LIN, WEIWEI Chinese

CHINESE CUSTOMER SERVICE

223.

LIU, JIANWEI Chinese

CHINESE CUSTOMER SERVICE

224.

LIU, YULONG Chinese

CHINESE CUSTOMER SERVICE

225.

LIU, YONGQIANG Chinese

CHINESE CUSTOMER SERVICE

226.

LIU, YUANYUAN Chinese

CHINESE CUSTOMER SERVICE

227.

LIU, XIAOXIAO Chinese

CHINESE CUSTOMER SERVICE

228.

LIU, DONG Chinese

CHINESE CUSTOMER SERVICE

207.

229.

LUO, ZHIHAO Chinese

CHINESE CUSTOMER SERVICE

FOREIGN NATIONAL / NATIONALITY

Tuesday, February 16, 2021 A7

ESTABLISHMENT / ADDRESS POSITION

NO.

LUO, CHAOMING Chinese

CHINESE CUSTOMER SERVICE

295.

231.

LUO, PAN Chinese

CHINESE CUSTOMER SERVICE

232.

LUONG VINH NGOC SANG Vietnamese

233.

FOREIGN NATIONAL / NATIONALITY

ESTABLISHMENT / ADDRESS POSITION

NO.

FOREIGN NATIONAL / NATIONALITY

POSITION

ZHONG, QINGHAI Chinese

CHINESE CUSTOMER SERVICE

351.

XAVIER, CHARLES Indian

MECHANICAL IN CHARGE

296.

ZHONG, JIAMING Chinese

CHINESE CUSTOMER SERVICE

352.

297.

ZHOU, CHUNLI Chinese

PLANNING & MECHANICAL MANAGER

CHINESE CUSTOMER SERVICE

GNANAVEL, SRINIVASAN Indian

MU, JINQIU Chinese

CHINESE CUSTOMER SERVICE

298.

ZHOU, JING Chinese

CHINESE CUSTOMER SERVICE

234.

NA, ZHIHUI Chinese

CHINESE CUSTOMER SERVICE

299.

ZHU, CONG Chinese

CHINESE CUSTOMER SERVICE

235.

NGUYEN VAN MAI Vietnamese

CHINESE CUSTOMER SERVICE

300.

CHEN, MINGCHI Chinese

236.

NI, CHUNJIAO Chinese

CHINESE CUSTOMER SERVICE

301.

237.

PAN, CHAORONG Chinese

CHINESE CUSTOMER SERVICE

238.

PO TUN LIN Malaysian

239.

RIGHT CHOICE FINANCE CORP. 5e-1 Electra House Bldg. 115-117 Esteban Street San Lorenzo Makati City 353.

CAI, LIMENG Chinese

CHINESE CUSTOMER SUPPORT

CHINESE CUSTOMER SERVICE REPRESENTATIVE

354.

CHEN, ZHIJIE Chinese

CHINESE CUSTOMER SUPPORT

FENG, KAIBIN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

355.

LI, ZHUJUNYA Chinese

CHINESE CUSTOMER SUPPORT

302.

SU, WENQIANG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

356.

SU, WEIBIN Chinese

CHINESE CUSTOMER SUPPORT

CHINESE CUSTOMER SERVICE

303.

CHINESE CUSTOMER SERVICE REPRESENTATIVE

357.

ZHANG, YUMIN Chinese

CHINESE CUSTOMER SUPPORT

PU, FENGTAO Chinese

WANG, XIN Chinese

CHINESE CUSTOMER SERVICE

304.

CHINESE CUSTOMER SPECIALIST

358.

HA TUAN UY Vietnamese

CREDIT ANALYST

240.

REN, QIANQIAN Chinese

MAO, MING Chinese

CHINESE CUSTOMER SERVICE

305.

CHINESE CUSTOMER SPECIALIST

241.

SAI WIN TUN Myanmari

ZENG, HAIPING Chinese

CHINESE CUSTOMER SERVICE

SHELL SHARED SERVICES (ASIA) B.V. 16/f-25/f Solaris One Bldg. 130 Dela Rosa St. San Lorenzo Makati City

306.

CHINESE CUSTOMER SPECIALIST

242.

SHI, MINGKANG Chinese

ZHANG, YUHAO Chinese

CHINESE CUSTOMER SERVICE

359.

307.

243.

SONG, JIANGTAO Chinese

CHINESE CUSTOMER SERVICE

LEONG ZHI KANG Malaysian

MALAYSIAN CUSTOMER SERVICE REPRESENTATIVE

244.

SU, LUYING Chinese

CHINESE CUSTOMER SERVICE

NEW ORIENTAL CLUB88 CORPORATION 3rd, 5th, 6th, 7th, 8th, 9th & 10th/f Pearl Marina Building Pacific Drive Don Galo Parañaque City

245.

SU, PEI Chinese

CHINESE CUSTOMER SERVICE

308.

CAO, FANGWEN Chinese

246.

SUN, ZHIRU Chinese

CHINESE CUSTOMER SERVICE

309.

247.

SUN, DAYE Chinese

CHINESE CUSTOMER SERVICE

248.

TAN BENG YEOW Malaysian

CHINESE CUSTOMER SERVICE

249.

TANG, WENHONG Chinese

CHINESE CUSTOMER SERVICE

250.

THIDA HTWE Myanmari

CHINESE CUSTOMER SERVICE

251.

TIAN, HAILONG Chinese

CHINESE CUSTOMER SERVICE

252.

TRAN VAN TAM Vietnamese

CHINESE CUSTOMER SERVICE

253.

TSAI, JI-SHIUAN Taiwanese

CHINESE CUSTOMER SERVICE

254.

WAN JI KAI Myanmari

CHINESE CUSTOMER SERVICE

255.

WANG, YOUPENG Chinese

CHINESE CUSTOMER SERVICE

256.

WANG, WENBIN Chinese

CHINESE CUSTOMER SERVICE

257.

WANG, YUQING Chinese

CHINESE CUSTOMER SERVICE

258.

WANG, JIAYANG Chinese

CHINESE CUSTOMER SERVICE

259.

WANG, SHAOPENG Chinese

CHINESE CUSTOMER SERVICE

260.

WANG, JINBIN Chinese

CHINESE CUSTOMER SERVICE

GARCIA CHAVARRO, ERICK ANDRES Colombian

PROJECT HR ADVISOR

SKY DRAGON GLOBAL TECHNOLOGIES CORP. # 103 Mezzanine Floor Edsa Mandaluyong City 360.

CHENG, LONG Chinese

CHINESE RESEARCH ANALYST

CHINESE CUSTOMER SERVICE

361.

GAO, ZHENYUAN Chinese

CHINESE RESEARCH ANALYST

HAN, LINGYU Chinese

CHINESE CUSTOMER SERVICE

362.

JIANG, CHENGCHENG Chinese

CHINESE RESEARCH ANALYST

310.

LI, CONGJUN Chinese

CHINESE CUSTOMER SERVICE

363.

LI, YU Chinese

CHINESE RESEARCH ANALYST

311.

LI, JIANCHENG Chinese

CHINESE CUSTOMER SERVICE

364.

REN, GAOLIN Chinese

CHINESE RESEARCH ANALYST

312.

LI, PAN Chinese

CHINESE CUSTOMER SERVICE

365.

WANG, YING Chinese

CHINESE RESEARCH ANALYST

313.

LI, ZHIFENG Chinese

CHINESE CUSTOMER SERVICE

366.

WEI, HONGJI Chinese

CHINESE RESEARCH ANALYST

314.

LI, JIN Chinese

CHINESE CUSTOMER SERVICE

367.

ZOU, YONGHAI Chinese

CHINESE RESEARCH ANALYST

315.

LIU, HAN Chinese

CHINESE CUSTOMER SERVICE

368.

CHANG KHAI WEE Malaysian

RESEARCH ANALYST

316.

LIU, JIE Chinese

CHINESE CUSTOMER SERVICE

317.

NONG, DAOJUN Chinese

SMARTMATIC PHILIPPINES, INC. Unit 2208 22nd Floor The Trade And Financial Tower 7th Ave. Cor. 32nd St., Bgc Fort Bonifacio Taguig City

CHINESE CUSTOMER SERVICE

318.

NURTURSYN, DAUREN Kazakhstani

CHINESE CUSTOMER SERVICE

319.

PAN, JUNHUA Chinese

CHINESE CUSTOMER SERVICE

320.

SONG, QIANYU Chinese

CHINESE CUSTOMER SERVICE

321.

WANG, KANG Chinese

CHINESE CUSTOMER SERVICE

322.

WANG, PENG Chinese

CHINESE CUSTOMER SERVICE CHINESE CUSTOMER SERVICE

369.

GUEVARA SERRANO, GERALDINE Venezuelan

PRESIDENT, DIRECTOR & CHAIRMAN OF THE BOARD

TELUS INTERNATIONAL PHILIPPINES, INC. Units 23/f, 31st/f - 37th/f Discovery Centre Adb Avenue, Ortigas Center San Antonio Pasig City 370.

BOKUNGU, JONATHAN IKWA Congolese

FRENCH OPERATIONS CSR

371.

ENOKA BABI, GUY Cameroonian

FRENCH OPERATIONS CSR

THE PENBROTHERS INTERNATIONAL INC. 6/f Opl Bldg. 100 C. Palanca Cor. Dela Rosa & Gil Sts. San Lorenzo Makati City

261.

WEI, JINDOU Chinese

CHINESE CUSTOMER SERVICE

323.

WANG, MENG Chinese

262.

WU, FENG Chinese

CHINESE CUSTOMER SERVICE

324.

WANG, QING Chinese

CHINESE CUSTOMER SERVICE

263.

WU, QIONG Chinese

CHINESE CUSTOMER SERVICE

325.

XIANG, YUAN Chinese

CHINESE CUSTOMER SERVICE

264.

WU, FENGMENG Chinese

CHINESE CUSTOMER SERVICE

326.

CHINESE CUSTOMER SERVICE

373.

CHINESE IT SUPPORT SPECIALIST

CHINESE CUSTOMER SERVICE

327.

CHINESE CUSTOMER SERVICE

374.

266.

XING, HUAWEI Chinese

XUE, ERMING Chinese

GAO, WENKAI Chinese

265.

WU, BO Chinese

XIE, YONGFENG Chinese

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

CHINESE CUSTOMER SERVICE

CHINESE IT SUPPORT SPECIALIST

328.

CHINESE CUSTOMER SERVICE

375.

267.

XING, KAISHUN Chinese

YANG, WEN Chinese

HUANG, BIN Chinese

CHINESE CUSTOMER SERVICE

CHINESE IT SUPPORT SPECIALIST

329.

CHINESE CUSTOMER SERVICE

376.

268.

XU, SHAOYOU Chinese

YU, XIANHE Chinese

JIANG, YUE Chinese

CHINESE CUSTOMER SERVICE

CHINESE IT SUPPORT SPECIALIST

330.

CHINESE CUSTOMER SERVICE

377.

269.

XU, FANG Chinese

YU, TAO Chinese

LI, JIAN Chinese

CHINESE IT SUPPORT SPECIALIST

331.

CHINESE CUSTOMER SERVICE

270.

XU, SHUAI Chinese

CHINESE CUSTOMER SERVICE

YU, TAIPING Chinese

LI, XUEFENG Chinese

378.

CHINESE IT SUPPORT SPECIALIST

332.

CHINESE CUSTOMER SERVICE

271.

XU, LILI Chinese

CHINESE CUSTOMER SERVICE

ZENG, PENG Chinese

ZHAO, XIAONAN Chinese

CHINESE CUSTOMER SERVICE

ZENG, MINGYONG Chinese

CHINESE CUSTOMER SERVICE

272.

XU, SHAOHUI Chinese

333.

TRANSCOSMOS INFORMATION SYSTEMS INC. 11th Floor Commerce And Industry Plaza Bldg. Mckinley Hill Cyberpark Fort Bonifacio Taguig City

273.

XU, YONG Chinese

CHINESE CUSTOMER SERVICE

334.

ZHANG, JINHU Chinese

CHINESE CUSTOMER SERVICE

274.

YANG, HONG Chinese

CHINESE CUSTOMER SERVICE

335.

ZHANG, XIN Chinese

CHINESE CUSTOMER SERVICE

275.

YANG, SHENGHUA Chinese

CHINESE CUSTOMER SERVICE

336.

ZHANG, WANDIAN Chinese

CHINESE CUSTOMER SERVICE

VAN GOGH BUSINESS PROCESS OUTSOURCING INC. 5th To 8th Flr. Sm Southmall Tower 2 Alabang Zapote Rd. Almanza Uno Las Piñas City

276.

YAP WAN JUN Malaysian

CHINESE CUSTOMER SERVICE

337.

ZHANG, JIE Chinese

CHINESE CUSTOMER SERVICE

381.

ZHAO, YULU Chinese

COMPUTER TECHNICAL SUPPORT SPECIALIST

277.

YAP WAN ZI Malaysian

CHINESE CUSTOMER SERVICE

338.

ZHANG, GUOWEN Chinese

CHINESE CUSTOMER SERVICE

382.

LIN, YONGLONG Chinese

I.T TECHNICAL MANDARIN

278.

YIN, FAGUI Chinese

CHINESE CUSTOMER SERVICE

339.

ZHANG, FENG Chinese

CHINESE CUSTOMER SERVICE

383.

WANG, FEI Chinese

I.T TECHNICAL MANDARIN

279.

YU, DONGCHUAN Chinese

CHINESE CUSTOMER SERVICE

340.

ZHOU, YOUCAI Chinese

CHINESE CUSTOMER SERVICE

384.

LUO, ZICHENG Chinese

IT TECHNICAL MANDARIN

280.

YU, LEI Chinese

CHINESE CUSTOMER SERVICE

341.

HO YEN CHIN Malaysian

MALAYSIAN CUSTOMER SERVICE

385.

WANG, XIN Chinese

IT TECHNICAL MANDARIN

281.

YU, GUOQING Chinese

CHINESE CUSTOMER SERVICE

342.

ARR CHAIN Myanmari

MYANMARI CUSTOMER SERVICE

386.

WU, TAO Chinese

IT TECHNICAL MANDARIN

282.

YU, HOUPING Chinese

CHINESE CUSTOMER SERVICE

343.

NGUYEN THI TAM Vietnamese

VIETNAMESE CUSTOMER SERVICE

387.

ZHANG, HAO Chinese

IT TECHNICAL MANDARIN

283.

YU, XUEQIN Chinese

CHINESE CUSTOMER SERVICE

284.

ZAYAR HTWE Myanmari

OAMPI INC. 8/f 6780 Ayala Ave. Ayala Ave. San Lorenzo Makati City

CHINESE CUSTOMER SERVICE

285.

ZENG, KANG Chinese

CHINESE CUSTOMER SERVICE

286.

ZHANG, SHUAI Chinese

CHINESE CUSTOMER SERVICE

344.

SHENGERO, ARMEL Rwandan

FRENCH CONTENT MODERATION ANALYST

PHILKO UBINS LTD. CORP. D301 Fil-estate Renaissance Towers D Meralco Ave. Ugong Pasig City 345.

CHOI, SUNGMIN South Korean

FINANCE MANAGER/ DIRECTOR

ZHANG, DONGBO Chinese

CHINESE CUSTOMER SERVICE

288.

ZHANG, YONGBIN Chinese

CHINESE CUSTOMER SERVICE

POWERSOURCE GROUP DEVELOPMENT CORPORATION 10/f The Athenaeum Bldg. 160 L.p. Leviste St. Bel-air Makati City

289.

ZHAO, XUELI Chinese

CHINESE CUSTOMER SERVICE

346.

SUBBIAH, MANIGANESH Indian

AUXILIARY OPERATOR

290.

ZHAO, YIJIE Chinese

CHINESE CUSTOMER SERVICE

347.

CONTROL ROOM OPERATOR

291.

ZHENG, XU Chinese

CHINESE CUSTOMER SERVICE

BATHULA, CHENNA NUKARAJU Indian

292.

ZHENG, JUNHAO Chinese

CHINESE CUSTOMER SERVICE

348.

PONNAMBALAM, ASHOKRAJ Indian

CONTROL ROOM OPERATOR

293.

ZHENG, ZHENHUA Chinese

CHINESE CUSTOMER SERVICE

349.

SIVAGURUNATHAN, AMMAIAPPAN Indian

CONTROL ROOM OPERATOR

294.

ZHENG, LONGYAN Chinese

350.

DEVAKUMAR, VIVEK Indian

ELECTRICAL IN CHARGE

287.

CHINESE CUSTOMER SERVICE

372.

CHAI SEE MEI Malaysian

BUSINESS DEVELOPMENT MANAGER

379.

AUMAIS, SEBASTIEN Canadian

FRENCH CUSTOMER SERVICE REPRESENTATIVE

380.

EBAI ARREY, IRENE Cameroonian

FRENCH CUSTOMER SERVICE REPRESENTATIVE

WUHAN FIBERHOME INTERNATIONAL TECHNOLOGIES PHILS., INC. U-19d 19/f Rufino Pacific Tower 6784 Ayala Ave. Cor. V.a. Rufino St. San Lorenzo Makati City 388.

ZHAO, DONG Chinese

ACCOUNT MANAGER

389.

ZHENG, YUQING Chinese

FINANCE MANAGER *Date Generated: Feb 15, 2021

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

The Nation BusinessMirror

A4 Tuesday, February 16, 2021 • Editor: Vittorio V. Vitug A8

Army overruns Maute lair in Lanao del Sur with gunships and artillery By Rene Acosta @reneacostaBM

ECURITY forces backed by helicopter gunships and artillery fire overran a camp of the Islamic State’s (IS) local front in Lanao del Sur over the weekend, thwarting yet another attempt of one of the groups responsible for the attack of Marawi City almost four years ago to regroup. Army forces captured the camp of the Maute Group following more than six hours of firefight last Saturday in the municipality of Madamba, Lanao del Sur, said Armed Forces Western Mindanao Command (Westmincom) commander Lt. Gen. Corleto Vinluan Jr. The Maute Group is one of the local fronts of the IS, which along with other extremist groups participated in the siege of Marawi City, Lanao del Sur’s capital, in 2017 under the IS flag. During the five month battle, Isnilon Hapilon, a former commander of the Basilan province-based Abu Sayyaf Group (ASG) and the “emir” of the IS in the whole of Southeast Asia, was killed. The firefight over the weekend was the first against a biggest group of the Maute so far since the attack of Marawi City which left the country’s

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DPWH slates opening of Central Luzon Link Expressway Phase 1 We are seeing a quality infrastructure that will benefit around 11,200 motorists and commuters daily and ease traffic Daang Maharlika Highway about to be delivered.

and hide in their foxholes,” delos Santos said. As the terrorists stuck to their foxholes and fought with the soldiers, the military deployed air and artillery support. Public Works Secretary Mark A. Villar “We deployed air and artillery troops to conduct assault forcing the By Lorenz S. Marasigan enemies to abandon their position,” @lorenzmarasigan delos Santos quoted Maj. Gen. Generoso Ponio, commander of the Joint HE Department of Public Task Force ZamPeLan, as saying. Works and Highways The group then scattered for sur(DPWH) will open within vival, abandoning their stronghold due the next three months a section to the intense ground and air support. of the Central Luzon Link Delos Santos said the intermittent Expressway (CLLEX) Phase 1, firefight lasted for about six hours which runs between the cities of and 55 minutes. Tarlac and Cabanatuan. “Our troops were able to penetrate Public Works Secretary Mark A. the enemy’s defensive line through Villar said the section, which will run timely and accurate supporting from Tarlac City to Aliaga, Nueva fires,” Ponio said. Ecija, will be opened to the public on While scouring the area, the solMay 15. The expressway is toll free. diers discovered that the camp con “Within the next 90 days, tain 20 foxholes and eight makeshift the 18-kilometer section from huts that can accommodate more or the connection of SCTEx [Subicless 70 individuals. Clark-Tarlac Expressway] and They also recovered assorted empTPLEx [Tarlac-Pangasinanty shells of linked 7.62mm, 40mm La Union Expressway] in grenade launcher, and 5.56mm and Balingcanaway, Tarlac City up to cal. 30 cartridges in the area. Aliaga Interchange of the Central “Rest assured that our intensified Luzon Link Expressway Project campaign against terrorism will not Phase 1 will be substantially falter and we thank our partner stakecompleted,” he said. holders for their undying support to phase of the four-lane, all our endeavors,” Vinluan said. The first

A FOXHOLE at the camp of the Maute Group that was overrun by soldiers in Lanao del Sur over the weekend. PHOTO COURTESY OF LT. COL. ALARIC AVELINO DELOS SANTOS, WESTMINCOM

Islamic capital in ruins. “Following a heavy skirmish... troops of the Joint Task Force ZamPeLan [Zamboanga peninsula and Lanao] successfully overran an enemy stronghold in the hinterlands of Barangay Bawang, Madamba, Lanao del Sur,” said Vinluan.

A statement released by Westmincom spokesman Lt. Col. Alaric Avelino delos Santos said soldiers were conducting combat operations when they encountered at least 15 Maute Group fighters. “A fierce gun battle ensued which forced the enemies to disengage

BM 30-kilometer CLLEX aims to cut the travel time between Tarlac and Cabanatuan to 20 minutes from the current 70 minutes. The department reported that the “4.10-kilometer Tarlac Section and 6.40-kilometer Rio Chico River Bridge Section including 1.5-km Rio Chico Viaduct are already completed, while the 9.20-kilometer Aliaga Section and 10.30-kilometer Cabanatuan Section 78.46 and 85.04 percent accomplished, respectively.” “We are seeing a quality infrastructure that will benefit around 11,200 motorists and commuters daily and ease traffic at Daang Maharlika Highway about to be delivered,” said Villar. Part of the “Build, Build, Build” (BBB) program of the Duterte administration, the P11.81-billion CLLEX also aims to spur trade and tourism in Central Luzon, and provide better market access to farmers in the country’s rice granary.

DTI’s FTEB enforcement division holds PNP signs accords with Peza for ‘industrial three day face-to-face refresher seminar peace,’ creation of ‘fusion center’ with AMLC

N accordance with the Fair Trade Enforcement Bureau’s (FTEB) annual plans, programs, and commitment for continual improvement, the Enforcement Division (ED) conducted a three-day refresher seminar from January 26 to 28, 2021, at the DTI-FTEB office. The retooling session focused on the processes that products covered by technical regulation

must go through with the Philippine Standard (PS) Quality and/or Safety Mark and Import Commodity Clearance (ICC) certification scheme of the Bureau of Philippine Standards (BPS). As part of the said retooling, the ED Team visited the BPS Testing Laboratory (BPSTL) located at Salawag, Dasmariñas, Cavite, on January 26, 2021, for actual demonstration of the product testing procedures. They were also apprised of the processes on how machines and equipment work in the testing laboratory and the various stages of product testing per product category conducted by the BPS Stan-

dards Testing Division prior to market distribution. Further, they were taught techniques on how to determine whether a product is conforming or non-conforming through the use of physical testing and without the aid of machines and equipment which could be useful in the field. FTEB Director Ronnel O. Abrenica emphasized the vital role of the ED and fully supports the worthwhile undertaking of the division. “This seminar will help craft a concrete group work plan for the year and will redound to the benefit of consumers as we improve the delivery of the Office mandate,” Abrenica added.

HE Philippine National Police (PNP) signed on Monday the implementing rules and regulations of a memorandum of agreement (MOA) with the Philippine Economic Zone Authority for the Ecozone Industrial Peace Program, or EIPP. The signing of the IRR was held at the National Headquarters in Camp Crame by PNP chief General Debold Sinas and Peza Director General Charito Plaza. Under the IRR, PNP Police Regional Offices will designate police officers, including female police officers on the established Peza Police Assistance Desk to address security issues and cater to complaints, queries and other concerns in the workplace with the end in view of promoting industrial peace and respect

for the rights of labor and management toward achieving a more conducive business environment in ecozones. For its part, the Peza will create its own police force that will undergo seminar and training focused on subjects related to police operations, crisis resiliency, civilian resistance, profiling, human relations, traffic violation and investigation, human psychology, community relations, IED (improvised explosive device) Awareness and Bomb Threats Management and life-saving techniques. “Alongside the battle against Covid-19, the greater challenge is to turn the economy into a healthy haven of progress,” Sinas said. Sinas said that with the IRR, the PNP and Peza will work together to-

ward sustaining a competitive Philippine export industry through integrated business-friendly policies without compromising public safety. Itisalsoalaw-enforcementmechanism to address industrial crimes like pilferage, hijacking and technical smuggling. Meanwhile, a liaison office for information exchange will be established at the National Headquarters to expand inter-agency cooperation against money laundering and terrorist financing in the country.

Sinas signed also on Monday a separate MOA with Anti-Money Laundering Council (AMLC) Executive Director Mel Georgie Racela that will fully operationalize the PNP-AMLC Fusion Center which has been completed and ready for use. Rene Acosta

Package yields ₧4.8M worth of party drugs at Manila Central Post Office By Recto Mercene

declared as “2 women clothes, 1 kids’ clothes & 1 shoes,” sent by a certain “Mary Lumbao Edward” from the Netherlands. The parcel was consigned to a certain resident of Malate, Manila. Upon further profiling and examination by airport Customs examiners, aided by drug sniffing dogs, the authorities found 12 packs of ecstasy tablets concealed inside the box. Subsequent laboratory analysis by the drug enforcement

@rectomercene

LOSE to 3,000 tablets of ecstasy party drugs valued at P4.8 million were seized at the Manila Central Post Office from a claimant during a string operations over the weekend. Airport Customs chief Mimel Talusan said a certain “Ronron Salonga” from Port Area, Manila, claimed the parcel at around 12 noon on Monday. The suspect was immediately apprehended by the authorities. Records show that the subject package was

agency by the Philippine Drug Enforcement Agency subsequently confirmed that the tablets as ecstasy. The claimant and the hot items are now in the custody of PDEA. The claimant is also being subjected investigation for violation of the Comprehensive Dangerous Drugs Act, otherwise known as the Customs Modernization and Tariff Act. Bureau of Customs Port of Ninoy Aquino International Airport (Naia), PDEA, Naia Inter-Agency Drug Interdiction Task Group (Naia-IADITG), participated in the operation.

Justice chief Guevarra not keen on being Chief Justice By Joel R. San Juan

@jrsanjuan1573

USTICE Secretary Menardo Guevarra has finally quashed insinuations that he is eyeing the Chief Justice (CJ) post, which will be left vacant on March 27 following the decision of Supreme Court Chief Justice Diosdado Peralta to retire a year early. This developed as the Judicial and Bar Council (JBC) has extended the application for the CJ post until February 26, 2021. The JBC, which is tasked to vet all applicants and nominees for vacancies in the judiciary and to shortlist the qualified candidates, had originally set the deadline on February 15. “The JBC has extended the application period for SC CJ until February 26, 2021.

Online and physical submission of the documental requirements should also be completed before the aforementioned new deadline,” Guevarra said. Meanwhile, in response to insinuations that he is eyeing the post, Guevarra said he is already “contented” with serving the people as secretary of the Department of Justice (DOJ). “I am happy serving the people as the secretary of justice, and I aspire for nothing more,” Guevarra stressed. Guevarra also expressed belief that there are other members of the judiciary who are more qualified for the CJ post. “I thank you, my dear JUCRA [Justice Correspondents and Reporters Association] colleagues for entertaining the thought that I

may be good enough to apply for or be nominated to the highest position in the judiciary,” the justice chief said. “But, with all sincerity, I believe that there are many judges and justices who are more qualified and deserving than I am to be considered for the illustrious position of Chief Justice, many of them have spent their entire professional career in the judiciary and it is only fair that they be given the privilege of being considered preferentially,” he added. Guevarra admitted that his classmates in law school, fellow lawyers and colleagues have also been prodding him to consider the post. Thus, he said, it would be better that he would squelch such speculations this early to help simplify the selection process.

It can be recalled that Guevarra has twice rejected his nomination for an SC post. Retired Sandiganbayan Associate Justice Raoul Victorino first nominated Guevarra to the SC in November 2019 for the vacant post that was created following the appointment of then Associate Justice Diosdado Peralta as Chief Justice on October 23, 2019. Guevarra, however, declined the nomination saying that he was till “very much in love” with the Department of Justice and there were still a lot of things needed to be done before he set his eyes on a post in the SC. He was again nominated by Victorino for possible replacement of Associate Justice Jose Reyes who retired in September 2020 but again, he declined the nomination.

News BusinessMirror

www.businessmirror.com.ph

Tuesday, February 16, 2021 A9

Boracay tourism slumps by 80% in January 2021 By Ma. Stella F. Arnaldo @akosistellaBM Special to the BusinessMirror

HE crown jewel of Philippine tourism, Boracay Island, recorded visitor arrivals at 11,898 visitors in January 2021 alone, averaging 300 to 400 visitors a day. This was a fall by 80 percent, however, from the 60,213 domestic tourists who arrived in January 2020, according to data from the Department of Tourism-Region 6 (Western Visayas), as the island continued to reel from the apparent public’s caution over traveling amid Covid-19. Arrivals in January 2021 were also 22 percent down from the 15,307 who arrived in December 2020. Boracay had reopened to tourists from general community quarantine areas last October. It would be recalled that island stakeholders had been blaming its poor tourism numbers to the prohibitive cost of RT-PCR tests. The DOT, however, has already been subsidizing the cost of RT-PCR tests by 50 percent in government hospitals such as University of the PhilippinesPhilippine General Hospital and the Philippine Children’s Medical Center. (See, “DOT arm ties up with children’s hospital on Covid-19 testing,” in the BusinessMirror, December 29, 2020.)

DOT sues fakers of RT-PCR test results

AS this developed, the DOT has fi-

BORACAY Island in Malay, Aklan FILE PHOTO

nally decided to crack down on forgers of RT-PCR test results by pressing charges against the six tourists from Manila who were nabbed in January for Falsification of Public Documents, after presenting fake RT-PCR test results to enable them to enter Boracay. Three of them turned out to be Covid-positive and were confined in a Kalibo quarantine facility. In a news statement, the DOT said it was Marc Judicpa of the DOT-Region 6’s Boracay Field and Compliance Monitoring Office who filed the complaint of falsification before the provincial prosecutor in Kalibo, Aklan. “We laud the recent parallel actions of the Department of the Interior and Local Government [DILG] and the Aklan and Malay local government units [LGUs] to reinforce IATF-MEID [Inter-Agency

Task Force for the Management of Emerging Infectious Diseases] regulations and health and safety protocols for the protection of guests, workers and host communities,” said Tourism Secretary Bernadette Romulo Puyat. “We will continue to be vigilant and ensure that these collaborative interventions will deter the entry of such delinquent and unwanted visitors to the island. This is how serious the DOT is in enforcing existing health and safety rules,” she warned. The DILG had earlier ordered the Philippine National Police to arrest and prosecute individuals who forge their RT-PCR tests, a crime punishable under Republic Act 11332, or the Mandatory Reporting of Notifiable Diseases and Health Events of Public Health

Concern Act. Said law imposes a fine of P20,000, but not more than P50,000 on the guilty party, or imprisonment of not less than one month but not more than six months, or both fine and imprisonment, at the court’s discretion. Specifically, Section 1-b of said law stipulates,�� “�� Tampering of records relating to notifiable diseases or health events of public health concern, which includes official medical test results or medical certificates, or such other documents and records issued by public health authorities is punishable by law.” Also, the DOT underscored the need for LGUs to tighten the registration procedure of would-be tourists by thoroughly validating the latter’s submitted Covid test results and confirmed hotel bookings. At present, there are about 10 to 12 validation and monitoring officers per shift on two shifts a day, seven days a week. These officers verify required documents to the island, before a QR code is given. However, the six tourists were given provisional codes to enter Boracay, even before their documents had been fully validated. �� “�� In anticipation of the further relaxation of regulations governing inter- and intra-regional movements, the LGUs should be prepared to address an increase in the number of applications and visits. Enforcement is key and we must all do our share in keeping Boracay safe,” stressed Romulo Puyat.

Palace resets reopening of theaters, leisure places to March 1 at soonest By Samuel Raphael Medenilla @sam_medenilla

& Claudeth Mocon-Ciriaco Correspondent

ALACAÑANG on Monday concurred with the decision of Metro Manila mayors to push back the reopening of cinemas in areas under general community quarantine (GCQ) to next month. Presidential Spokesman Harry Roque said the Palace decision was in line with the provisions of the InterAgency Task Force for the Management of Infectious Diseases (IATF) Resolution No. 90, which allow local chief executives to set their own operations guidelines for the reopening of the said establishments. “The IATF respects the position of the mayors especially in Metro Manila,” Roque said. “As I said, the opening of cinemas is subject to LGU (local government units) issuance of guidelines.” The Palace official said the local chief executives of the National Capital Region (NCR) have officially decided to move the resumption of cinema operation to March 1, 2021 instead of February 15, 2021. He noted areas outside of NCR may already reopen their cinemas as long as their LGUs has the necessary guidelines for it. Under IATF resolution No. 90, the following establishments will be allowed to operate in GCQ areas: driving schools; traditional cinemas, a and video- and interactive-Game Arcades; libraries, archives, museums, and cultural centers; meetings, incentives, conferences, and exhibitions, and limited social events at accredited establishments ofr the Department of Tourism; and limited tourism attractions. Chairman Benjamin “Benhur” Abalos Jr. of the Metropolitan Manila Development Authority (MMDA) ear-

lier said the mayors should have been consulted first because they know the “real situation on the ground.” Abalos, however, stressed, the mayors support the reopening of the pandemic-devastated economy, but want it to be done “gradually.” “There should be a calibration of both the health and the economic teams with the local government units and all affected sectors,” Abalos said at a news briefing held in MMDA. He said he was set to meet with the National Capital Region (NCR) mayors on Monday night. For his part, San Juan City Mayor Francis Zamora said that while he understands the need for the economy to reopen, the hard-won gains in fighting the pandemic must be kept. “...With the impending rollout of the vaccines, we may be at the final stretch of this battle against Covid-19 and so we would like to maintain, if not totally increase the gains we have already achieved with our many sacrifices,” Zamora told the BusinessMirror. Zamora shared the sentiments of his peers that allowing leisure establishments to open should wait a little more. “Cinemas and game arcades target the younger market, which are not allowed to leave their houses anyway. The risk is also high with these places being enclosed and people confined inside for two hours or more,” he said.

Pasay City

MEANWHILE, Pasay City Mayor Emi Calixto-Rubiano supports the decision of other mayors to defer the reopening of the movie theaters, but insisted that they are working hard to maintain their distinction as one of the cities with the lowest Covid-19 cases in the country. “While we support the decision of IATF to open some tourism-related businesses to help revive our economy, however, I believe that it is not yet the

perfect time for theaters to reopen,” Rubiano said. According to the mayor, although Pasay City hosts some of the most modern and advanced theaters in the country, she cannot allow them to reopen just yet. She noted that cinemas are enclosed facilities with air-conditioning system, two of the main ingredients for the virus to spread. Instead, she suggested that cinemas be reopened after the nationwide immunization campaign is through and vaccines have been proven effective in containing the virus. Navotas Mayor Toby Tiangco, via text message sent through his public information officer, Irish Cubillan said: “Tuwing may pagluluwag po sa restrictions, parati lang naming sinasabi na dapat base ito sa konsultasyon ng mga health experts at ayon sa science at facts. Kailangan po natin malaman kung ano ang magiging epekto nyan sa kalusugan ng ating mamamayan. Gusto man nating buksan nang tuluyan ang ekonomiya, ayaw naman nating ilagay sa peligro ang ating kalusugan at ayaw din nating bumalik sa paghihigpit sakaling dumami muli ang mga kaso,” Tiangco said.

Act as one

MEANWHILE, according to Abalos, the members of the Metro Manila Council, have one voice in the fight against Covid-19. “If you open the economy, we also need to factor in safeguards. It is a big challenge for the government to help the economy going while keeping the people safe and healthy. The Metro Manila mayors play a big role in this issue,” said Abalos. “What is important is we act as one. What is important is unity,” he stressed. At present, he disclosed, the NCR mayors are crafting a recommendation

to IATF on the planned resumption of the cinema operations in areas under the GCQ. In the crafting of guidelines, factors to be considered are the observance of physical distancing, seating capacity of the cinemas, use of air-conditioned units, bringing in of food, temperature inside the cinema, contact tracing, etc. The MMC, governing body and policy-making body of the MMDA, is composed of the 17 mayors in Metro Manila and representatives from national government agencies.

Outside NCR

IT’S not just the NCR mayors who fret over the IATF announcement to reopen cinemas and leisure places. Davao del Sur Representative Mercedes “Didi” Cagas is questioning the decision. At the weekend, the IATF was reported to have allowed traditional cinemas, driving schools, video and interactive-game arcades, libraries, archives, museums, and cultural centers; meetings, incentives, conferences and exhibitions, and limited social events to re-open and expand their operations, effective February 15. Moreover, the increase to 50 percent of a venue’s capacity for religious gatherings, up from the present 30 percent will also be allowed. Presidential spokesman Harry Roque Jr. said that all of these will be subject to implementing guidelines to be issued by the Department of Health (DOH) and concerned local government units (LGUs) where they are located. Cagas noted the growing evidence showing airborne transmission of Covid-19 in enclosed spaces. Experts have warned of the danger of spreading droplets carrying the virus within enclosed spaces including cinemas, restaurants, and the like. With Jonathan Mayuga

House bill sets penalty on bogus Covid test result

HOUSE leader is pushing for the passage of a bill that seeks to impose stiffer penalties for falsification novel coronavirus test results. Deputy Speaker Wes Gatchalian of Valenzuela said he filed House Bill

8643 to amend Republic Act 11332, or the Mandatory Reporting of Notifiable Diseases and Health Events of Public Health Concern Act, to include the falsification of Covid-19 test results. The lawmaker cited as example the three women in Caloocan who

were caught selling fake Covid-19 test results in July last year, as well as the six Boracay tourists who submitted falsified test results to be able to enter the island on February 3. Half of the six later tested positive for Covid-19.

The Department of Tourism has already filed a complaint these tourists for faking their Covid-19 test results. “The desire of individuals to proceed with their lives in the new normal should not be at the expense of other people,” he said. Jovee Marie N. Dela Cruz

A10 Tuesday, February 16, 2021 • Editor: Angel R. Calso

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editorial

Be brave against China

vigorous national defense cannot exist without strong, security alliances with other nations. It is nice to have the assurance that those foolish enough to threaten our country would be confronted not only by our own military but those of other nations who are our allies.

US Secretary of State Antony J. Blinken on Wednesday repeated a previous commitment by the US to “stand with Southeast Asian claimants” in the face of continuing aggressive behavior by China in the contested waters of the South China Sea. Blinken told Philippine Foreign Secretary Teodoro Locsin Jr. that the US will defend the Philippines against attacks and it rejects China’s claims in the South China Sea “to the extent they exceed the maritime zones that China is permitted to claim under international law.” He stressed the importance of the 1951 US-Philippines Mutual Defense Treaty and “its clear application to armed attacks against the Philippine armed forces, public vessels, or aircraft in the Pacific, which includes the South China Sea.” This unwavering assurance from our country’s oldest security ally is commendable, especially as it comes after China passed a law allowing its coast guard to fire on foreign vessels even in maritime waters that it disputes, including in the West Philippine Sea, where Chinese military and paramilitary ships abound. It is about time we strengthen our strategic and diplomatic relationship and our treaty alliance with the US. The Philippines has a mutual defense pact with the US—not a provisional arrangement but a treaty—and as a sovereign nation it has an inherent right to use this treaty in the interest of peace and security. Otherwise, why have a treaty at all when we are not prepared to invoke and honor it. The Mutual Defense Treaty with the US may not be an end-all solution to help peacefully resolve whatever tensions there are in the South China Sea, but it is a powerful leverage nonetheless. China, by its own admission, is bothered by US sailings near the islands it illegally occupies and controls. Two US carrier groups conducted joint exercises and sailed near Chinese-controlled islands in the South China Sea last week, drawing immediate reactions from the Chinese government. The US helps keep the peace with these freedom of navigation operations. The willingness of the US to challenge Chinese attempts to restrict access or limit lawful navigation in the South China Sea prevents China from being more aggressive. This is reassuring to the Philippines and other countries in the region that have been victims of China’s frequent maritime bullying. The government should also rescind its notice for the termination of the Visiting Forces Agreement. The unilateral cancellation of the two-decade old VFA was made in an angry response after the US canceled the visa of Sen. Ronald dela Rosa. The withdrawal period was extended twice, and the second suspension will end on August 6, 2021. Rather than cancelling the VFA, it should instead be reviewed and renewed, with better terms and concessions. Rather than sniveling and being skeptical about US support, the government should test it and compel the US to define and concretize it, to help boost the country’s maritime defense potentials. The government should focus on the framework and the deliverables to make the defense treaty and the VFA favorable to our country. There is nothing wrong with exploring all possible collective security arrangements that could bolster our measly military strength, expand our defense options and divide our costs and risks against any direct or indirect aggression. This includes the Asean’s stronger show of solidarity on South China Sea issues, which we pointed out in a previous editorial. But President Duterte too must show his own resolve and not leave the wimpy impression, made more obvious by his public statements, that he is afraid and unwilling to confront China, even on issues when the Philippines has irrefutable sovereignty. Last week, Duterte kept up his defeatist attitude, as he went off-script during his speech before Philippine Air Force troops in Pampanga, and said he “cannot afford to be brave in the mouth against China because we are avoiding any confrontation, a confrontation that would lead to something which we can hardly afford, at least not at this time.” China takes its cue and is further emboldened by such cowardice. Hearing such words from the President is also discouraging to many Filipinos, especially as China’s boats have been having their way on our traditional fishing grounds, shooing away our fishermen in our own waters, even confiscating their goods; and even as Chinese dredging ships have been conducting illegal activities in our country, pillaging our natural resources and destroying the environment. We should stand up to China’s bullying. We should not be cowed into silence, more so, into statements of absolute surrender. How can we expect our allies to stand with us if we refuse to stand up for ourselves?

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ood security is crucial to keeping prices stable and ensuring the inflation rate stays within target. While sufficiency through local production is an ideal and patriotic goal, we should keep our trade borders open to prepare for any emergency and ensure that our food stock is adequate to feed our population today and tomorrow. Data analysis and foresight are important in monitoring and predicting our national food supply. If companies are tapping data analytics to avoid disruption in their production and inventories, it is all the more important to do the same at the national level. The 4.2-percent inflation rate in January 2021, which exceeded the target of the Bangko Sentral ng Pilipinas, is an eye opener for us. It was the fastest price increase in two years since the inflation rate hit 4.4 percent in January 2019. Economic managers linked this to high food prices in January, which likely continued in February. Food inflation climbed to 6.6 percent, while non-food inflation was steady at 2.3 percent in January, based on the data of the Philippine Statistics Authority. A variety of factors led to the high

food inflation last month. The National Economic and Development Authority blamed the outbreak of African swine fever that decimated the hog population in several areas, higher logistics and transportation costs of sourcing pork from farther provinces, the closed fishing season across several regions and the damage in the countryside from typhoons and floods in October and November last year. Our geographic location that puts us on the path of typhoons makes us very vulnerable to food supply disruptions. With 20 typhoons crossing our islands each year, our food supply is always at the mercy of weather conditions. This is why we should keep our mind open to importation to augment supply in case of emergency. Failing to do so could lead to a tight food supply and

Money madness

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Food security key to taming inflation

‘T

hose whom the gods wish to destroy, they first make mad.” This is one of those quotes that has been misattributed to dozens of famous people, reaching back to ancient Greece, except maybe for Abraham Lincoln. Other variations include: “When a god plans harm against a man, he first damages his mind.” “When the devil purports any evil against a man, he first perverts his mind.” I like this one best, “For whenever the divine spirits want to harm someone, they first steal away his good sense, and turns his thought to foolishness.” The last phrase perfectly describes today’s financial and asset markets. The Bubble-Babblers have been screaming about the markets for the past 10 years. The stock markets, crude oil, cryptos, you name it. They are all in a bubble, which

is just about to blowup any minute now. These kinds of people are just as annoying as their ancestors were a few thousand years ago. During the solar eclipse they were the ones running around, yelling, “Apep the Moon Serpent is eating the Sun!” When the Sun miraculously returned it was because Ra always manage to fight free of the serpent’s coils. When the markets fail to collapse it is because the US Federal Reserve comes to the rescue. Both John F. Kennedy and Ronald Reagan repeatedly used the imagery of the “Shining city on a hill” to describe the vision for the United States. Unfortunately, the US has be-

excessive food prices. This does not mean we should not aim for the lofty goal of improving our agriculture. We should continue to support our farmers, while always preparing for fortuitous events beyond our control, like typhoons and outbreaks of animal diseases. Otherwise, we will have a serious challenge of feeding 110 million Filipinos. Local agriculture production has been actually rising in recent years. The national rice output reached a record 19.4 million metric tons in 2020, exceeding the bumper harvests in the 1970s and 1980s. But we continued importing rice because our population has doubled over the past three decades and will further increase in the next three decades. Meanwhile, an evidence of an outbreak of animal disease or seasonal destructive typhoons should give our government officials enough time to calculate our food stock and determine if an immediate importation of a commodity is necessary. This is what the government did when it temporarily allowed the importation of more meat products to ease the limited local supply and curb the escalating prices. The Department of Agriculture estimated that the country had a pork supply deficit of 400,000 metric tons as of January this year. It is a serious shortfall because pork accounts for 60 percent of meat consumption in the country. I agree with the National Econom-

come more like Gotham City’s “The Elizabeth Arkham Asylum for the Criminally Insane on a hill.” I have spoken enough about the recent fun and games with GameStop Corp. stock. Now that the price had stopped going ballistic, the US politicians are no longer concerned about their probes, hearings, and investigations. But that does not mean the madness has stopped. On March 20, 2000, the British newspaper The Independent wrote, “Snowfalls are now a thing of the past.” The UK paper The Daily Telegraph updated that prediction on December 7, 2020: “Snow days could ‘disappear’ by 2100 due to climate change.” This past week the polar vortex has hit the middle of the US with temperatures the coldest in more than a decade, natural gas wellheads are freezing cutting off supply. ONEOK Gas Transportation operates an intrastate natural gas pipeline system in Oklahoma. The “Natgas” cash price has gone from $3.46 one week ago, to $9 last Wednesday, $60.28 on Thursday and an insane $377.13 on Friday, up 32,000 percent in a few days. Any discussion of madness must

ic and Development Authority—our priority right now is to ensure adequate food supply so that households affected by Covid-19 restrictions would not bear the additional burden of high food prices. If there is anything that helped us survive the pandemic last year, it was the low inflation rate that averaged 2.4 percent in 2020, or within the government’s target range of 2 percent to 4 percent. Although imports will directly affect local farmers and producers such as hog and poultry raisers, we have no choice but to resort to this remedy until the local supply stabilizes. Meanwhile, I find the scheduling of a Food Security Summit timely to address the challenges faced by the agriculture sector, including the issues of logistics. The summit seeks to develop a National Food Security Plan that will ensure unhampered movement of agricultural commodities, accessibility and price stability. I hope the summit will also discuss the need to adopt data analytics so that we will have an accurate foresight on production, inventory and importation. Predictability and management of food supply and prices are the key to making sure our inflation rate is stable and our population has constant access to affordable products. For comments, e-mail mbv.secretariat@gmail. com or visit www.mannyvillar.com.ph.

include cryptocurrencies. Bitcoin has gone from $4,000 to $47,000 in two years, up around 350 percent over the last 12 months. Elon Musk just bought $1.5 billion, apparently doing a “GameStop” short squeeze, pushing the price up almost 20 percent higher in a matter of minutes of Musk’s buying announcement. Cryptos are supposed to be out of the control of governments. India is said to be levying a complete ban on cryptocurrency investments, including those done outside of the country. Like China, probably crypto to crypto trading will be allowed but no “real” money to crypto. In other news, the Reserve Bank of India is planning to issue its own cryptocurrency. But don’t misunderstand me. I like crazy markets fueled by mad men and women. Rudyard Kipling said it best. “If you can keep your head when all about you are losing theirs, you’ll be a Rich Man, my son!” That is not an exact quote, but I know that is what Kipling meant. 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.

Opinion BusinessMirror

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When a corporation is half dead

The gruesome Valentine’s Day massacre Manny F. Dooc

TELLTALES

Atty. Irwin C. Nidea Jr.

Tax law for business

o you know that a corporation may be considered dead by the Securities and Exchange Commission (SEC) but not by the Bureau of Internal Revenue (BIR)?

The Supreme Court (SC) recently issued a Resolution that addresses this quandary. In a recent case (GR 230847), Company A merged with Company B, which became the surviving corporation. However, prior to the merger, Company A filed a claim for refund with the BIR. According to the CTA En Banc, Company A ceased to exist when its merger with Company B was approved by the SEC. The fact that it is Company A and not Company B, the surviving corporation, that filed the claim for refund is fatal to the claim since Company B no longer had legal personality to do so. Hence, no claim for refund can be considered filed, and no suit or proceeding can be maintained in any court for the recovery of the tax. The SC disagreed with the CTA En Banc. In the same case, the SC said that a merger is the union of two or more existing corporations in which the surviving corporation absorbs the others and continues the combined business. The Corporation Code provides that one of the effects of merger is the cessation of the separate existence of the constituent corporations. The merger dissolves the non-surviving corporations. Hence, upon approval by the SEC of the merger, Company A’s legal personality, was dissolved. However, according to the SC, the dissolution of Company A due to the merger may not be true as far as the Tax Code is concerned. According to the SC, before the Corporation Code took effect in 1980, the law had taken steps to protect government revenue by ensuring that taxes are collected from companies planning to dissolve. This is by way of the tax clearance requirement. Retiring corporations were obliged to report the incomes they earned for the purpose of determining the amount of imposable tax. Once a corporation has completely paid of its tax liabilities, the BIR will issue a Certificate of Tax Clearance which confirms that the corporation no longer has any outstanding tax obligations to the government. The tax clearance is then submitted to the SEC as a requirement before the latter may issue a Certificate of Disso-

lution. The law clearly provides that corporations shall not be dissolved until cleared of any tax liability. However, this may not be true in a merger because the corporation that is merged automatically cease to exist. Thus, the SC ruled that in cases of merger, like in this case, Company A is considered dissolved under the Corporation Code but not insofar as the Tax Code is concerned. Can a corporation then be considered both dissolved and not dissolved at the same time? The answer is yes. According to the SC, the purpose of the tax clearance requirement under the Tax Code is to ensure that a corporation contemplating dissolution does not renege on its tax liabilities and thereby irreparably deprive the government of much needed revenues. Consequently, the Tax Code prevents the corporation from being dissolved without having been cleared by the BIR. The SC held that Company A is considered not dissolved prior to it obtaining a tax clearance, but only for tax purposes. Thus, Company B, which is the surviving corporation, can still claim for tax refund. This SC ruling has the following jurisprudential implications. The general rule is that a company can only be considered dissolved when it has secured both a certificate of tax clearance and a certificate of dissolution. But in case of a merger, a company can be considered dissolved for SEC purposes. But it remains alive for tax purposes until a certificate of tax clearance is secured. A corporation cannot kill itself and hope that its obligations will die with it. The government will find a way to collect, always. The author is a senior partner of Du-Baladad and Associates Law Offices, a member-firm of WTS Global. The article is for general information only and is not intended, nor should be construed as a substitute for tax, legal or financial advice on any specific matter. Applicability of this article to any actual or particular tax or legal issue should be supported therefore by a professional study or advice. If you have any comments or questions concerning the article, you may e-mail the author at irwin.c.nideajr@ bdblaw.com.ph or call 8403-2001 local 330.

Surge in Britain’s renewable power exposes grid risks By Ronan Martin Bloomberg Opinion

record year for renewable power in the UK showed the need for a broader suite of green technologies to balance the grid once fossil fuels fade away entirely. Green power exceeded coal and gas generation in the country’s energy mix for the first time in 2020. While this is a step in the right direction to hit strict climate goals, technologies like nuclear, hydrogen and carbon capture are needed to compensate for when the wind doesn’t blow or the sun doesn’t shine, according to a report by Imperial College London for Drax Group Plc. Wind power produced a quarter of Britain’s electricity last year, however the climb in output lead to more than 250 million pounds ($346 million) being spent on costs where energy had to be dumped because of network constraints. Overall electricity demand in Britain fell by 6 percent last year, the

largest year-on-year drop on record, which allowed renewable energy to contribute to a greater percentage of power generation. Fossil fuel generation dropped below 100 terra-watt hours for the first time since 1960. “The next steps we must take towards a net zero power system will be more challenging, driving out the last sources of fossil carbon will require us to go beyond just having more wind and solar power,” Dr. Iain Staffell of Imperial College London said. A greater reliance on renewable energy exposes the system to greater swings in power production, with cold, cloudy and still days causing drops in output. This can lead to surges in power prices, and much higher grid balancing costs. National Grid Plc issued several warnings of tight electricity margins over winter, when demand was expected to be high and wind power output low. Systems for storing energy such as batteries can provide grid-balancing services to make up for a drop in renewable power.

Tuesday, February 16, 2021 A11

alentine’s Day is a celebration of love and affection by all lovers around the world. It is associated with romantic love where couples profess their affection for each other by giving flowers, chocolates and sending love notes and Valentine’s cards. It is even said that the birds propose or marry on Valentine’s Day. Records show that February 14 is a favorite date for couples’ betrothal. Valentine’s Day is symbolized by the shape of the heart, the winged Cupid with his bow and arrow and the color red. But why red? Red is the color of love and passion and, represents intense love and ardent feelings. It is the blood red of the beating heart, which pulsates for love. Red is also the color of vaginal blood, which is the woman’s ultimate sacrifice in an intimate relationship with a man. Among Chinese and Indian women, red cheongsams and saris signal the beginning of their sexual life. On the lighter note, when a lady wears red on her Valentine’s date, it signifies that she is already “taken”, or ready to accept love. Valentine’s red, however, should not be equated with violence and cold-blooded murder. Violence has no place on Valentine’s Day. It’s the day to make love, not war. Obviously, Al Capone and his gangmates did not believe that painting the city of Chicago red is a profanation of St. Valentine. On February 14, 1929, the most gruesome mass murder of seven members of the Northside Gang led by George “Bugs” Moran was committed by a rival gang headed by Al Capone. Capone wanted to avenge Moran’s earlier attempts to eliminate him and some of his partners in crime. The ultimate prize is to

gain control of the thriving bootlegging business in Chicago during the years of Prohibition. Capone’s men disguised themselves as policemen complete with uniforms and badges, and armed with Thompson submachine guns. On that early Valentine morning at the height of the Prohibition Era, they barged into the garage, which also served as one of Moran’s hideouts. Thinking that it was one of the routine police raids that could get easily settled given their influence with local authorities, the victims peacefully lined up against the wall for the usual search, but instead of doing a frisk the assailants mercilessly opened fire at the hapless victims with their hands raised. The burst of gunfire shattered the morning silence of that fateful Valentine’s Day and recorded one of the grisly mass murders in US crime history. This made Al Capone the most dreaded gangster and the first Public Enemy Number 1 in the US. Capone and Moran had a long history of intense rivalry in Chicago. The two gangs fought violent wars resulting in the deaths of their members. The city was small for the two ganglords, so they practically divided the city to establish their turf. Bugs Moran, a part of the Irish group, ran the North Side and his gang was called the

On February 14, 1929, the most gruesome mass murder of seven members of the Northside Gang led by George “Bugs” Moran was committed by a rival gang headed by Al Capone. Capone wanted to avenge Moran’s earlier attempts to eliminate him and some of his partners in crime. The ultimate prize is to gain control of the thriving bootlegging business in Chicago during the years of Prohibition.

North Side Gang. Capone was the leader of the rival Italias group and he controlled the South Side. Capone’s crime mentor, Johnny Torrio, killed Dan O’Banion, Moran’s associate. In retaliation, Moran’s gang hit Torrio injuring the latter seriously. Torrio survived, relocated and relinquished his business to Capone who became Chicago’s mob czar. Unsatisfied, Moran and his group tried to assassinate Capone himself by attacking Capone at his headquarters in Hawthorne Inn in Cicero, Illinois. Despite firing over a thousand shots at the Inn and its adjacent restaurant, Capone survived the attack. To avenge the failed attempt on his life, Capone hatched the daring plan to execute Moran’s group on Valentine’s Day. Luckily, Moran, who was supposed to join his men early that day, was delayed by traffic and he saw the fake police officers leave the garage as he approached the place. There were conflicting reports about Moran’s whereabouts but one thing certain was that he narrowly escaped death that day. The police and the people in the streets knew the author of the dastardly act but no one was arrested and prosecuted to this day. The massacre shocked the nation. Its ruthlessness had awakened the public from stupor and galva-

nized the people’s support for law and order and good government. It contributed to the downfall of Capone and the organized crimes, although it took some years later. The vicious gangsterism that invaded America had jolted the nation. The deafening public outcry sprang the authorities into action. In the early 1950s, Senator Estes Kefauver led the Senate investigation, which looked into the illegal activities of the Mafia and other organized crimes. This resulted in meaningful reforms in criminal laws and the US criminal justice system. The unholy alliance between the criminals and the depraved politicians and law enforcers, which prospered during the Prohibition era up to the early post-war years, was arrested. The years of organized crime were finally put behind. Moran died while serving sentence at Leavenworth Federal Prison in Kansas on February 25, 1957 at the age of 63. Capone, also known as Scarface, served time in Alcatraz where his former prison cell continues to attract millions of tourists every year. After his release from prison, Capone settled in Palm Island in Miami, which he bought years earlier, with his family and died from stroke and pneumonia on January 25, 1947 at the age of 48. For many years, Capone and Moran were beyond the reach of the law. Crooked politicians and corrupt police officers were on their payroll. Organized crimes were also employed to harass political rivals and intimidate voters in exchange for protection and immunity. Both amassed fortunes although Moran eventually became a petty criminal after losing out to Capone. They spent years in prison and were troubled by health problems. Their wicked and inglorious lives continue to stoke the imaginations of youthful lawbreakers but they constitute the incontrovertible proof that crime does not pay.

Impeachment isn’t the final word on Capitol riot for Trump By Colleen Long | Associated Press

ASHINGTON—Donald J. Trump’s acquittal at his second impeachment trial may not be the final word on whether he’s to blame for the deadly Capitol riot. The next step for the former president could be the courts. Now a private citizen, Trump is stripped of his protection from legal liability that the presidency gave him. That change in status is something that even Republicans who voted on Saturday to acquit of inciting the Jan. 6 attack are stressing as they urge Americans to move on from impeachment. “President Trump is still liable for everything he did while he was in office, as an ordinary citizen, unless the statute of limitations has run,” Senate Minority Leader Mitch McConnell of Kentucky said after that vote. He insisted that the courts were a more appropriate venue to hold Trump accountable than a Senate trial. “He didn’t get away with anything yet,” McConnell said. “Yet.” The insurrection at the Capitol, in which five people died, is just one of the legal cases shadowing Trump in the months after he was voted out of office. He also faces legal exposure in Georgia over an alleged pressure campaign on state election officials, and in Manhattan over hush-money payments and business deals. But Trump’s culpability under the law for inciting the riot is by no means clear-cut. The standard is high under court decisions reaching back 50 years. Trump could also be sued by victims, though he has some constitutional protections, including if he acted while carrying out the duties of president. Those cases would come down to his intent. Legal scholars say a proper criminal investigation takes time, and there are at least five years on the statute of limitations to bring a federal case. New evidence is emerging every day.

“They’re way too early in their investigation to know,” said Laurie Levenson, a law professor at Loyola Law School and former federal prosecutor. “The have arrested 200 people, they’re pursuing hundreds more, all of those people could be potential witnesses because some have said ‘Trump made me do it’.” What’s not known, she said, is what Trump was doing during the time of the riot, and that could be the key. Impeachment didn’t produce many answers. But federal investigators in a criminal inquiry have much more power to compel evidence through grand jury subpoenas. “It’s not an easy case, but that’s only because what we know now, and that can change,” Levenson said. The legal issue is whether Trump or any of the speakers at the rally near the White House that preceded the assault on the Capitol incited violence and whether they knew their words would have that effect. That’s the standard the Supreme Court laid out in its 1969 decision in Brandenburg v. Ohio, which overturned the conviction of a Ku Klux Klan leader. Trump urged the crowd on Jan. 6 to march on the Capitol, where Congress was meeting to affirm Joe Biden’s presidential election, Trump even promised to go with his supporters, though he didn’t in the end. “You’ll never take our country back with weakness,” Trump said. He also had spent weeks spinning up supporters over his increasingly combative language and false election claims urging them to “stop the steal.” Trump’s impeachment lawyers said he didn’t do anything illegal. Trump, in a statement after the ac-

quittal, did not admit to any wrongdoing. Federal prosecutors have said they are looking at all angles of the assault on the Capitol and whether the violence had been incited. The attorney general for the District of Columbia, Karl Racine, has said that district prosecutors are considering whether to charge Trump under local law that criminalizes statements that motivate people to violence. “Let it be known that the office of attorney general has a potential charge that it may utilize,” Racine told MSNBC last month. The charge would be a misdemeanor with a maximum sentence of six months in jail. Trump’s top White House lawyer repeatedly warned Trump on Jan. 6 that he could be held liable. That message was delivered in part to prompt Trump to condemn the violence that was carried out in his name and acknowledge that he would leave office Jan. 20, when Biden was inaugurated. He did depart the White House that day. Since then, many of those charged in the riots say they were acting directly on Trump’s orders. Some offered to testify. A phone call between Trump and House Republican leader Kevin McCarthy emerged during the impeachment trial in which McCarthy, as rioters stormed the Capitol, begged Trump to call off the mob. Trump replied: “Well, Kevin, I guess these people are more upset about the election than you are.” The McCarthy call is significant because it could point to Trump’s intent, state of mind and knowledge of the rioters’ actions. Court cases that try to prove incitement often bump up against the First Amendment. In recent years, federal judges have taken a hard line against the anti-riot law. The federal appeals court in Virginia narrowed the Anti-Riot Act, with a maximum prison term of five years, because it swept up constitutionally protected speech. The court found invalid parts

of the law that encompassed speech tending to “encourage” or “promote” a riot, as well as speech “urging” others to riot or involving mere advocacy of violence. The same court upheld the convictions of two members of a white supremacist group who admitted they punched and kicked counterdemonstrators during the 2017 “Unite the Right” rally in Charlottesville, Virginia. It’s possible federal prosecutors will decide not to bring charges, and if Trump were indicted in one of the many other separate investigations, federal prosecutors could decide justice would be done elsewhere. Atlanta prosecutors have recently opened a criminal investigation into Trump’s attempts to overturn his election loss in Georgia, including a Jan. 2 phone call in which he urged that state’s secretary of state, Brad Raffensperger, to “find” enough votes to reverse Biden’s narrow victory. And Manhattan District Attorney Cyrus R. Vance Jr., is in the midst of an 18-month criminal grand jury investigation focusing in part on hushmoney payments paid to women on Trump’s behalf, and whether Trump or his businesses manipulated the value of assets—inflating them in some cases and minimizing them in others—to gain favorable loan terms and tax benefits. GOP Sen. Thom Tillis of North Carolina, who voted to acquit along with McConnell and 41 other Republicans, argued that because Trump is no longer in office, impeachment is not the right way to hold him to account. “The ultimate accountability is through our criminal justice system where political passions are checked and due process is constitutionally mandated. No president is above the law or immune from criminal prosecution, and that includes former President Trump.” Associated Press writers Jim Mustian and Michael R. Sisak in New York and Mark Sherman contributed to this report.

A12 Tuesday, February 16, 2021

INFLATION FEARS EASE, BTR SELLS P24-B T-BILLS By Bernadette D. Nicolas

@BNicolasBM

HE Bureau of the Treasury sold P24 billion in Treasury Bills (T-bills) on Monday’s auction as investors shrugged off inflation concerns. The auction committee upsized the issuance from the initial P20-billion offer by doubling the accepted noncompetitive bids for 91-day and 182-day securities to P4 billion each. This, after it saw strong demand for government securities as debt papers attracted total bids amounting to P88.6 billion, more than four times the equivalent of the initial offer. Rates across all tenors were all lower than the previous auction and secondary market rates. Following the auction, National Treasurer Rosalia V. De Leon told reporters they also opened the tap facility for an additional P5-billion offering for 364-day T-bills. “Liquidity continues to overflow. Market sees spike in prices as temporary with supply constraints and inflation dialing back to middle of target next year,” De Leon said in a message. The 91-day T-bills fetched an average rate of 0.845 percent, 0.1 basis point lower than the previous auction’s 0.846 percent. Tenders for the security reached P17.45 billion, more than thrice the initial P5-billion offer. For the 182-day T-bills, the average rate settled at 1.046 percent, dipping by 4.8 basis points from 1.094 percent in the previous auction. Bids for the tenor reached P30.05 billion, six times the initial P5-billion offer. Lastly, the 364-day T-bills capped at an average rate of 1.416 percent, a 3 basispoint drop from 1.446 percent previous-

ly. Tenders for the debt paper hit P41.11 billion, four times the P10-billion offer. For this month, the Treasury programmed borrowings of P140 billion from the local debt market, the same amount it planned to raise in January. It is also currently offering 3-year retail treasury bonds (RTBs) with a coupon rate set at 2.375 percent, lower by 200 basis points from the 4.375 percent coupon rate of the previous 3-year RTBs sold in February 2020. Generally considered low-risk investment instruments, RTBs allow investors to earn a fixed interest based on prevailing market rates that are paid quarterly during the term of the bond. During the rate-setting auction for the government’s 25th RTB offering last Tuesday, the government raised an initial P221.218 billion. Proceeds from the issuance of RTBs are expected to boost the government’s funds for its Covid-19 response and recovery efforts. In addition to the new RTBs, the BTr is also allowing holders of previously issued bonds to exchange and reinvest their bond holdings for the RTB-25. The offer period is set to end on March 4, with settlement scheduled on March 9. Last month, Finance Secretary Carlos G. Dominguez III said they expect the national government’s debt this year to settle at 57 percent of GDP as the country aims to borrow a total of P3.03 trillion, roughly the same amount it borrowed in 2020. In 2020, the government posted a record-high outstanding debt of P9.795 trillion and a 14-year-high debt-to-GDP ratio of P54.5 percent. This came a year after the country recorded an outstanding debt level of P7.73 trillion as it snatched a historic low debt-to-GDP ratio of 39.6 percent.

Vaccine rollout, govt spending seen to lift Asean nations’ GDP By Cai U. Ordinario

@caiordinario

HE rollout of vaccines, increase in government spending, and easing of monetary restrictions would boost GDP growth among Association of Southeast Asian Nations (Asean) nations to an average of 6 percent this year, according to Londonbased data analytics firm GlobalData. In a statement, GlobalData said Vietnam would post the fastest growth in the region at 8.5 percent despite averting a contraction in 2020. The Philippine economy is seen to follow with a projected growth of 8.4 percent this year, followed by Malaysia with 7.1 percent. “Increasing investment and recognizing open trade are key to put Asean economies on a steady growth path, along with effective vaccination for Covid-19 in 2021. An uptick in retail trade and growing demand for e-commerce will bring in new capital to spur growth,” GlobalData Economic Research Analyst Gargi Rao said. Rao said the implementation of non-tariff measures on essential goods among the Asean nations under the Regional Comprehensive Economic Partnership (RCEP) will also boost growth. With the RCEP, trade growth in the Asean as well as Australia and New Zealand, which are included in the world’s largest trade agreement to date, would see a “sharp recovery” in the second half of 2021. “The new free trade agreements among Asean, Australia and New Zealand will bring in new trade and employment opportunities for 2021 and beyond. The need of the hour is to facilitate business

activities through effective cooperation among the Asean nations,” Rao said. She said data from the Purchasing Manager’s Index (PMI) also showed a recovery. Singapore posted a 52.9 in PMI for manufacturing followed by the Philippines at 52.5; Indonesia, 52.2; and Vietnam, 51.3. In April 2020, the PMI was below 50, indicating a steep contraction in economic activities among Asean economies. This was largely due to the mobility restrictions imposed to contain the spread of Covid-19. The PMI for manufacturing in the Philippines posted the steepest dive in April with a contraction of 31.6, followed by Malaysia at 31.3 and Indonesia at 27.5. “With an improving health sector, global vaccine rollouts, gradual recovery in global demand and strong output growth, the Asean manufacturing sector is set to rebound in 2021,” GlobalData said in a statement. Earlier, the Department of Trade and Industry (DTI) expressed hope policymakers would ratify the RCEP within 2021 to boost the country’s economic recovery from the unprecedented damage wrought by the Covid-19 pandemic. In an interview with reporters, Trade Assistant Secretary Allan B. Gepty said the DTI expects the RCEP’s ratification and Senate concurrence by next year. The RCEP is a multilateral trade deal concluded in November involving the 10 Southeast Asian nations and trading partners Australia, China, Japan, New Zealand and South Korea. As with any free-trade agreement (FTA), the RCEP has to be approved by President Duterte and must be ratified by the Senate before it takes effect on the domestic end.

PHL banana exports down 18.3% on weak production

By Jasper Emmanuel Y. Arcalas

@jearcalas

HILIPPINE banana exports last year declined by almost a fifth to a two-year low of 3.595 million metric tons (MMT) as shipments across all key markets contracted due to weak domestic production. Preliminary Philippine Statistics Authority (PSA) trade data analyzed by the BusinessMirror showed that the total banana exports last year was 808,000 MT lower (18.35 percent) than the record-high 4.403 MMT in 2019. PSA data also showed that export receipts from banana shipments in 2020 declined by 20.6 percent to $1.552 billion from $1.953 billion. Due to the double-digit reduction in value, bananas dropped a notch to the sixth spot of the top export products of the Philippines, PSA data showed. Pilipino Banana Growers and Exporters Association (PBGEA) attributed the decline in exports to “poor production” caused by the rapid spread of diseases worsened by logistical bottlenecks such as movement restrictions against Covid-19. The country’s banana output last year fell by 1.1 percent to a three-

year low of 9.056 MMT, about half of which are cavendish, from 9.157 MMT in 2019, PSA data showed. “There was a lot of production wastage. The decline in both volume and value were expected despite the demand for fresh fruits, including bananas in foreign markets,” PBGEA Executive Director Stephen A. Antig told the BusinessMirror. Antig explained that the spread of diseases, such as Fusarium wilt, in farms “[was] left unattended.” The production situation was worsened by “forced work stoppage/ disruptions mainly because of the restrictions imposed by local government units,” Antig added. He added that difficulties in crossing borders between LGUs resulted in a “slow flow” in the transport of fresh bananas from farms-to-packing houses-to-ports for loading. This, Antig pointed out, “affected the quality of the fresh

bananas” for export.

‘Not promising’ outlook

For this year, the outlook for the country’s precious yellow fruit export would “not be promising,” Antig said, as other banana exports have “easily filled-in the supply gaps” that the Philippines created in its key markets. “We also need to double-time overhauling the production areas badly affected by diseases. We are keeping our fingers crossed, though we will withstand the pandemic, hopefully with government’s interventions,” he said. PSA data showed that the country’s banana exports to its key markets such as Japan, China, South Korea, and Saudi Arabia, posted declines in terms of both volume and value. PSA data showed that shipments to China, South Korea, and Saudi Arabia declined by at least 25 percent to as much as 30 percent.

Japan regains top spot

Despite a 4-percent year-on-year reduction in volume, Japan regained its position as the Philippines’s top market for banana exports from China, which held the spot for two years since 2018. (Related story: https://businessmirror.com.ph/2019/04/22/chinawrests-japans-30-yr-record-astop-buyer-of-phl-bananas/)

PSA data showed banana exports to Japan reached 1.345 MMT, 18 percent higher than the 1.139 MMT volume shipped to China last year. The country’s banana exports to China, mostly supplied by small to medium domestic banana growers, declined 29 percent from 1.603 MMT in 2019, based on PSA data. Antig told the BusinessMirror in November 2020 that Japan edged the Chinese market due to the country’s banana quality advantage that Japanese consumers prefer. (Related story: https://businessmirror.com.ph/2020/11/18/ japan-seen-to-wrest-back-topbanana-importer-status/) But in a recent interview, Antig explained that since China started buying bananas from nearer sources such as Vietnam, Laos, Cambodia, Filipino exporters to the East Asian market lost contracts and incurred losses due to decline in export prices. “The China market is actually dominated by small Filipino banana exporters. When the bananas from China’s other sources were available, the price for Philippine bananas went down, which hurt a lot of Filipino exporters,” he said. “That is usually the situation when there is oversupply. Most of the small exporters rely on the spot market price. No contracts. They sell directly to Chinese consolidators,” he added.

The Department of Agriculture-Bantay Presyo and the Caloocan City Local Government conduct pork and fish price monitoring operations at the Maypajo Public Market on Monday, February 15, 2021. Leading the operations is DA-Bantay Presyo Coordinator, former Candaba Mayor Jerry Pelayo, and other DA officials. NONIE REYES

Villanueva pushes creation of OFWs dept

ITING the “sheer numbers” of overseas Filipino workers’ (OFWs) remittances that helped bail out the economy during crunch times, Senator Joel Villanueva on Monday pressed Congress leaders to frontload passage of a bill creating a Department of Overseas Filipino Workers (DOFil). “Remittance figures justify the creation of DOFil,” Villanueva said, adding that the “sheer number of OFWs remittance figures justify creation of DOFil.” Presiding over a hearing of the Senate Committee on Labor, Employment and Human Resources Development, Villanueva said the DOFil is envisioned as a new line

agency, citing the “immeasurable contribution” of overseas Filipinos to “the country’s pride and the nation’s economy, especially in these times of pandemic.” He added, partly in Filipino: “One in 10 Filipinos lives overseas. If all our OFWs were placed in one country, that would be the 91st most populated in the world. Its population would be bigger than those of Sweden, Austria, UAE, Israel, or Switzerland.” In 2019, total cash remittances of OFWs amounted to P1.56 trillion, the senator said. “These were the ones that went through banks and remittance centers. The amount would be bigger if we

consider those sent personally by hand, or requested for handcarry by Filipinos returning to the Philippines,” he noted. The senator asserted that “these facts alone are enough justifications to create a whole department mandated to only look after OFWs worldwide, and consolidate the mandates of smaller government offices under the Department of Labor and Employment and the Department of Foreign Affairs.” That is why, he added, “we probably need the DOFil to address the 5Rs: Red-Tape, Regulation, Recruitment, Repatriation, and Reintegration. He stressed the need to grant a

mandate to “amalgate” functions, similar to “the 3 types of attaches whom we must place under one office, and other overlapping functions that our Senate peers have cited.” Villanueva confirmed that the enabling OFW bill has been certified as urgent by President Duterte.

12% of national income

At present, he said, 12 percent of the national income is the “monetized sweat of the overseas Filipinos,” noting that “their generous remittances buoy our economy up, keeping it afloat in times of economic headwinds.” Continued on A2

www.businessmirror.com.ph

Companies BusinessMirror

Tuesday, February 16, 2021

Jollibee losses hit ₧11.49B as pandemic slashes sales

By VG Cabuag

@villygc

ast-food giant Jollibee Foods Corp. (JFC) on Monday said it had a restated net loss of P11.49 billion for the entire 2020, a reversal of the P7.3-billion income it posted in 2019.

The company said, however, its gains in the fourth quarter allowed it to pare its losses in 2020. System-wide sales, a measure of all sales to consumers both from company-owned and franchised stores, fell 28 percent to P175.97 billion from the previous year’s P243.79 billion primarily as a result of permanent store closures and lower sales per store due to the Covid-19 pandemic. The company was able to post an income of P2.04 billion in the fourth quarter alone, more than a third lower than the previous year’s P3.12 billion in income. The fourth quarter was the only time that the company posted an income following three consecutive quarters of loss in 2020. System-wide sales for the quarter fell 32 percent to P49.54 billion from

the previous year’s P72.72 billion. The company re-stated its financial statements in 2019, adding a gain of P1.1 billion following the finalization of its third party valuation on its acquisition of the firm that owned The Coffee Bean and Tea Leaf. JFC also said it was able to pare down the decline in revenues after it reduced its cost and improved its cash flow via its business transformation program. Under the P7-billion plan, 4 commissaries and a total of 486 stores, of which 262 were covered by the program, were permanently closed. Headcount and operating and general and administrative expenses were significantly reduced in stores, supply chain facilities and support group offices. As a result, a total of P2.6 billion in annual savings are

now being realized with full impact in 2021 and the years ahead, it said. About P8 billion in capital expenditures were avoided last year and some of the budget were just delayed as part of the program’s objective to preserve cash as a precautionary measure during the business downturn at the height of the pandemic. Of the budget for the program, it used P6.7 billion or 96 percent, some P4.7 billion of which were in cash spending while P2 billion represented write-off of book value of assets. The unspent portion came mostly from lower-than-expected charges for pre-termination of leases mainly in North America. The cash savings payback period for the cash portion of the spending is estimated at less than 2 years with an internal rate of return of more than 50 percent. “All of our regions generated recurring profit in the fourth quarter, led by the Philippines. We have significantly improved the Smashburger and The Coffee Bean and Tea Leaf businesses that they are now in a reasonable position to start generating profit in 2021. Our strong profit recovery shows our organization’s capability to execute complex and massive undertaking in a very short time like the Business Transformation,” Jollibee CEO Ernesto Tanmantiong said.

“It was a very difficult and painful program but the right thing to do for the long term good of the business and the organization.” For the year, he said the company will open more than 400 new stores worldwide most of which will be outside of the Philippines, particularly in North America, Vietnam and China. “In 2021 and the years ahead, JFC’s sales and profit growth will be driven by its international business. We believe that out of this pandemic, we will emerge as a stronger business and organization,” he said. For the year, the company has allocated some P12.2 billion in capital expenditures to fund the opening of about 450 stores. The said amount is 22 percent higher than the actual spending in 2019 of P10 billion. In 2020, the company spent P5.9 billion in capital investments, mostly for new stores. A total of 338 new stores were opened in 2020, 81 in the Philippines and 257 abroad. For the first time in the company’s history, more new stores were opened abroad than in the Philippines led by SuperFoods of mostly Highlands Coffee in Vietnam at 115. CBTL opened 55; Yonghe King, 38; and Jollibee International at 36, of which Europe and Middle East at 20 and North America at 16.

NSW solar farm secures debt financing By Lorenz S. Marasigan @lorenzmarasigan

he energy development arm of Ayala Corp. (AC) and its Australian partner have reached financial close for the first stage of its New England Solar Farm in New South Wales (NSW). Filipino firm AC Energy and Infrastructure Corp. and Australian partner UPC Renewables said on Monday that the first 400 MW alternating current of its solar farm in Uralla is now funded through debt financing from Westpac, Commonwealth Bank of Australia, and Bank of China. This, according to the two groups, is just the first stage of the final 720 MW solar and 400

Stocks rise to another record

tocks rose as the vaccine rollout and slowing virus outbreaks spurred bets on a global recovery. West Texas Intermediate crude topped $60 a barrel amid an arctic freeze in parts of the United States. Europe’s Stoxx 600 Index climbed, led by banks and commodity shares. South Korean and Japanese shares led Asia higher, with the Nikkei 225 hitting 30,000 for the first time since 1990. Data showed Japan’s economic expansion beat expectations. US markets are shut for Presidents’ Day, while exchanges in China and Hong Kong are also closed Monday. Treasury futures dipped in Asian trading, and Australian bonds slumped after US yields jumped Friday. The pound reached the highest since April 2018. Bitcoin slipped after a weekend rally that took the cryptocurrency to a record of almost $50,000. The reflation trade remains alive and well: global equities are on course to rise for 11 straight sessions, and the Treasury yield curve has tested the steepest levels in more than five years. Investors are banking on US government spending and the coronavirus vaccine rollout to boost the economic recovery, though new variants are threatening to temper the outlook. “The reflation trade is set to continue to gather steam with vaccine deployment and massive fiscal spending by the Biden administration,” said Esty Dwek, head of global market strategy for Natixis Investment Managers Solutions. “Yields are likely to rise further and the catch-up of cyclical sectors should continue.” Bloomberg News

MWhr battery at the site. “It’s exciting to achieve financial close on a merchant basis for such a large project, which is the first of many such projects we have in Australia. UPC\AC Renewables Australia views this project fitting into the NSW Government RoadMap and look forward to being engaged in this process to help lower electricity prices in NSW,” said UPC\AC Renewables CEO Anton Rohner. Officials were not responding to queries on project cost and questions on debt financing. With this development, grid connection and initial energy production is expected to start by July 2022, while the remainder of the project is projected to be placed in service

by around the end of 2023. UPC\AC Renewables is also planning to install up to a 400 MWh lithium-ion battery storage facility, with the first 50 MWh, which is supported by the NSW Emerging Energy Program, expected to become operational in mid-2022. This battery system will assist with electricity grid stability and provide firm capability to deliver energy at peak periods, lowering prices for consumers. Once finished, the New England Solar Farm will produce enough energy to power approximately 250,000 typical NSW households each year and will supply energy to the market to help fill the gap left by the expected closure of the Liddell Power Station.

According to AC Energy International COO Patrice Clausse, the New England Solar Farm will contribute significantly to AC Energy’s goal of reaching 5,000 MW of renewables capacity by 2025, towards becoming the largest listed renewables platform in Southeast Asia. He added that the solar farm is a “major milestone” for the group as it is a first in Australia. “We look forward to helping Australia achieve and exceed its long-term decarbonization goals by continuing to develop and construct more renewable energy projects in the country,” he said. Green Light Contractors was tapped for the construction of the solar farm.

Tesla to start making cars in India

esla Inc. is closing in on an agreement to make electric vehicles in India for the first time, opening up a new growth opportunity after setting up production in China. Tesla has picked Karnataka, a southern state whose capital is Bangalore, for its first plant, the state’s chief minister said over the weekend. The automaker has been negotiating with local officials for six months and is actively considering car assembly in the suburbs of Bangalore, people familiar with the matter said. Tesla didn’t immediately respond to requests for comment and did not confirm the minister’s statement.

The company is conducting due diligence for office real estate in the region and plans to set up an R&D facility, said the people, asking not to be named because the matter is private. Tesla has focused on Bangalore because it’s shaping up to be a hub for electric vehicles and aerospace manufacturing talent, they said. Tesla has incorporated its Indian unit and registered offices in downtown Bangalore. Chief Executive Officer Elon Musk all but confirmed Tesla would enter India in January after months of speculation. The world’s richest man on January 13 tweeted “as promised” in response to a report on a Tesla-focused blog

that the automaker was in talks with several Indian states to open an office, showrooms, a research and development center—and possibly a factory. That revelation sparked euphoria from locals, such as Nikhil Chaudhary, a 20-year-old student at the University of Delhi who helped start India’s Tesla fan club in 2019. Despite the hype, Tesla’s foray into India may well prove challenging. The country hasn’t yet rolled out the welcome mat for EVs like neighbor China, where Tesla set up its first factory outside of the United States and now dominates sales of premium EVs. Bloomberg News

PSE welcomes Chinese Year of the Metal Ox

he Philippine Stock Exchange, Inc. (PSE) Board and Management led the opening of the first trading day in the Chinese Year of Metal Ox with an animated lion dance featured on the LED display board at the PSE Trading Floor. PSE President and CEO Ramon S. Monzon addressed the traders, employees and members of the PSE Board who attended virtually in his opening remarks. “Our Chinese New Year program this year may be simpler and more austere compared to our traditional festivities through the years, but just the same we are glad that we are celebrating this occasion with all of you,” said Monzon. “As we mark this new year which is the Year of the Metal Ox let us strive to practice in our personal, everyday lives and professional dealings the diligence, dependability, strength and

Photo shows (from left, by row) PSE Issuer Regulation Division Head Marigel B. Garcia, PSE General Counsel Veronica V. Del Rosario; PSE Capital Markets Development Division Head Mark Frederick V. Visda, PSE COO Roel A. Refran; PSE President and CEO Ramon S. Monzon and PSE Technology Division Head Philip A. Driz. Contributed Photo

determination which the ox stands for. Let us work as hard as an ox this year so that we can

jump back fierce and strong like a tiger next year, which is the Year of the Tiger.”

SMC gives out 70,000 nutribuns to poor areas

Photo from www.sanmiguel.com.ph

onglomerate San Miguel Corp. (SMC) on Monday said it has distributed over 70,000 nutribuns to poor communities as part of its efforts to provide food aid for Filipinos still struggling to cope with the economic impact of the pandemic. “It’s been almost a year since the pandemic started, and while we have made a lot of headway in terms of addressing the spread of the Covid-19, its economic impact continues to be felt today by almost all sectors of society, particularly the vulnerable. Access to food and basic nutrition is still an issue, especially for our poorest families. This is why we have continued our nutribun distribution program which we started September last year to this day,” company president Ramon S. Ang said. The company revived nutribun, a staple for schoolchildren during the Marcos era in the 70s to fight malnutrition and hunger, in March last year to provide immediate and nutritious food aid to poor communities following the lockdown. It also started regular distribution of

the nutrient-packed bread to select communities in September through its network of Petron gas stations. Since then, the company has been distributing 4,000 pieces of nutribuns per week to the poorest communities of Malolos, Tondo, Payatas and Caloocan through the help of LGUs, the Diocese of Malolos, Gawad Kalinga, the Philippine Business for Social Progress, Puso ng Ama and volunteers of its Better World Tondo facility in Manila. “We are grateful for our partners’ work in making sure that our nutribuns reach those in need. In the midst of this pandemic, it is crucial for us to continue working together to help as many people as we can,” Ang said. Its Better World Tondo community center also continued to provide daily meals for 465 families in the Tondo area, along with weekly groceries as lockdown guidelines required them to stay home. Volunteers also provided meals for all locally stranded individuals in Manila North Harbor and Rizal Coliseum as well as the fire victims near the center.

Companies BusinessMirror

Tuesday, February 16, 2021

PSE STOCK QUOTATIONS

February 15, 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 EAST WEST BANK METROBANK PB BANK PBCOM PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FERRONOUX HLDG FILIPINO FUND IREMIT MEDCO HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH SUN LIFE

43.85 107.1 85.9 24.05 10.08 49 10.98 22 26 54.8 17.4 127.2 71.5 1.07 3.97 3.6 8.21 1.56 0.44 815 0.68 150.4 2,100

43.9 107.7 86 24.1 10.1 49.1 11 23.45 26.2 55.7 17.8 128.5 71.95 1.08 3.99 3.69 8.67 1.57 0.45 849 0.7 150.9 2,150

44 107 86.3 24.1 10.08 49 11.06 22.85 26.25 55.6 17.84 126.5 72 0.99 3.98 3.78 7.7 1.55 0.45 840 0.7 153 2,100

44 108.7 86.3 24.2 10.08 49 11.06 22.85 26.25 55.7 17.84 128.5 72 1.08 4 3.78 8.21 1.59 0.45 840 0.7 153 2,100

43.9 107 85.75 24.05 10 48.1 11 22.85 26 54.5 17.4 126.5 71.15 0.99 3.96 3.6 7.69 1.5 0.445 840 0.7 150.5 2,100

43.9 107.1 85.9 24.1 10.08 49 11 22.85 26 54.8 17.4 128.5 71.5 1.08 3.97 3.6 8.21 1.56 0.45 840 0.7 150.5 2,100

1,100 653,840 1,082,470 78,100 531,700 1,070,100 4,000 700 200,800 950 2,100 674,110 7,390 558,000 145,000 171,000 30,500 339,000 310,000 170 50,000 11,390 20

48,330 70,483,917 93,048,520 1,881,575 5,326,968 52,201,400 44,006 15,995 5,255,735 52,716 36,672 86,049,440 528,844 576,780 575,990 618,660 245,535 517,520 139,300 142,800 35,000 1,718,869 42,000

9,435,232 43,606,343 -1,332,560 -1,678,014 -6,095,255 -9,900 -2,524,790 4,905 34,213,829 21,600 3,970 -75,500 10,599 42,000

INDUSTRIAL AC ENERGY 7.58 7.59 7.88 7.9 7.51 7.59 46,573,100 357,081,197 1.32 1.33 1.34 1.35 1.32 1.33 2,020,000 2,697,890 ALSONS CONS 26.2 26.3 26.35 26.65 26.1 26.3 624,700 16,392,415 ABOITIZ POWER 1.13 1.14 1.17 1.18 1.1 1.13 102,820,000 116,172,180 BASIC ENERGY 29.85 29.9 29.95 30.5 29.8 29.9 506,000 15,159,190 FIRST GEN FIRST PHIL HLDG 75.4 75.5 75.4 75.5 75.3 75.4 355,520 26,804,135 MERALCO 289 290.4 289.2 294 289 289 110,380 32,081,088 MANILA WATER 15.98 16 16.3 16.36 15.96 15.98 1,656,800 26,670,920 PETRON 3.71 3.72 3.77 3.78 3.7 3.72 836,000 3,116,560 3.85 3.97 3.87 3.87 3.85 3.85 55,000 211,840 PETROENERGY 12.56 12.86 12.9 13 12.42 12.86 742,900 9,437,412 PHX PETROLEUM 21.7 21.8 22 22 21.6 21.7 169,600 3,692,620 PILIPINAS SHELL 10.3 10.32 10.36 10.4 10.26 10.32 175,000 1,802,248 SPC POWER VIVANT 13.9 14.5 13.88 13.88 13.88 13.88 500 6,940 7.06 7.1 7.26 7.27 7 7.1 757,300 5,362,292 AGRINURTURE AXELUM 3.42 3.51 3.55 3.55 3.4 3.51 1,140,000 3,938,780 CNTRL AZUCARERA 14 14.3 14.2 14.3 14 14.3 11,100 155,662 18 18.02 18.04 18.04 17.32 18 1,174,100 21,063,986 CENTURY FOOD 9.15 9.19 9 9.5 9 9.15 179,900 1,648,777 DEL MONTE 7.2 7.21 7.34 7.4 7.16 7.2 995,300 7,172,511 DNL INDUS 9.91 9.92 9.91 9.92 9.91 9.92 265,300 2,629,772 EMPERADOR SMC FOODANDBEV 68 68.05 68.4 68.85 67 68.05 266,050 18,086,994.50 ALLIANCE SELECT 0.62 0.64 0.62 0.64 0.62 0.64 710,000 447,070 1.59 1.6 1.6 1.64 1.53 1.6 33,718,000 53,809,400 FRUITAS HLDG GINEBRA 52.5 52.9 51.5 53.5 51.5 53 63,260 3,352,475 JOLLIBEE 179.4 179.5 180 181.5 179.5 179.5 1,095,200 197,354,134 34.1 34.9 34 34.25 34 34.25 6,100 207,550 LIBERTY FLOUR 6.65 6.7 6.76 6.76 6.65 6.7 130,900 879,272 MAXS GROUP 0.41 0.415 0.435 0.44 0.41 0.415 32,330,000 13,544,600 MG HLDG 7.49 7.5 7.55 7.55 7.49 7.49 91,200 687,499 SHAKEYS PIZZA ROXAS AND CO 1.19 1.21 1.2 1.22 1.16 1.21 4,084,000 4,845,300 RFM CORP 4.64 4.76 4.63 4.63 4.63 4.63 1,000 4,630 ROXAS HLDG 1.7 1.77 1.76 1.76 1.75 1.76 16,000 28,110 0.151 0.152 0.155 0.156 0.15 0.151 41,600,000 6,314,250 SWIFT FOODS 138.8 140 139 141.2 138.8 138.8 534,430 74,603,622 UNIV ROBINA 0.92 0.93 0.93 0.93 0.91 0.92 2,931,000 2,703,510 VITARICH 2.25 2.3 2.23 2.23 2.23 2.23 8,000 17,840 VICTORIAS 52.3 54 52.35 54 52.35 52.35 470 25,264.50 CONCRETE A CONCRETE B 55.25 56 56 56 56 56 190 10,640 1.37 1.38 1.37 1.4 1.37 1.38 4,829,000 6,659,360 CEMEX HLDG DAVINCI CAPITAL 7.95 8 9.1 9.34 8 8 8,048,900 69,602,369 EAGLE CEMENT 13.6 13.8 13.5 13.8 13.5 13.6 2,600 35,460 8.18 8.2 8.05 8.26 8.05 8.19 275,900 2,250,179 EEI CORP 6.35 6.36 6.45 6.5 6.31 6.35 956,300 6,077,744 HOLCIM 7.39 7.4 7.35 7.39 7.29 7.39 617,600 4,522,596 MEGAWIDE 10.52 10.88 10.56 10.56 10.5 10.56 40,000 420,978 PHINMA TKC METALS 1.75 1.76 1.53 1.75 1.46 1.75 15,762,000 26,177,630 VULCAN INDL 3.85 3.88 3.54 4.2 3.2 3.85 94,609,000 365,618,090 CROWN ASIA 1.8 1.82 1.79 1.8 1.78 1.8 74,000 132,660 2.24 2.27 2.3 2.32 2.23 2.24 188,000 422,820 EUROMED 5 5.08 5 5 5 5 4,300 21,500 LMG CORP 4.43 4.61 4.62 4.62 4.62 4.62 2,000 9,240 MABUHAY VINYL 5.52 5.61 5.6 5.61 5.6 5.6 184,200 1,031,645 PRYCE CORP 21.1 21.15 21.6 21.75 21.1 21.15 48,600 1,034,280 CONCEPCION 3.27 3.28 3.26 3.3 3.17 3.28 25,740,000 83,602,660 GREENERGY INTEGRATED MICR 13.3 13.34 13.4 13.5 13.22 13.3 1,861,300 24,850,310 IONICS 1.28 1.3 1.22 1.3 1.2 1.3 1,259,000 1,585,900 PANASONIC 5.75 6.09 5.9 6.09 5.74 6.09 11,500 66,174 1.58 1.6 1.48 1.63 1.44 1.59 4,966,000 7,727,270 SFA SEMICON 6.67 6.68 6.85 6.85 6.61 6.68 6,383,000 42,828,068 CIRTEK HLDG

2,744,358 -18,680 1,906,940 -11,670,030 -8,906,970 -21,552,538 -2,093,100 -6,692,660 2,910 -32,508 -65,800 -379,587 61,050 1,793,384 -72,900 -39,776 49,768 -2,387,508.50 -544,410 198,757.50 -57,489,913 -63,358 -540,750 -244,866 -292,030 4,630 233,300 -8,293,934 507,160 -1,331,790 105,589 817,329 -1,200,328 -190,643 -874,530 3,714,530 -620,905 -5,496,620 6,165,514 -60,300 -227,250 -521,452

HOLDING & FRIMS ABACORE CAPITAL 1.19 1.2 1.23 1.26 1.18 1.2 42,392,000 51,122,050 8.46 8.49 8.78 8.84 8.11 8.49 89,300 747,540 ASIABEST GROUP 782.5 786 802 803 780 782.5 238,150 187,292,290 AYALA CORP 42.3 42.75 43.05 43.15 42.1 42.3 887,300 37,630,635 ABOITIZ EQUITY 10.5 10.6 10.94 10.98 10.5 10.5 5,294,700 56,252,764 ALLIANCE GLOBAL AYALA LAND LOG 3.12 3.15 3.15 3.15 3.1 3.12 1,167,000 3,642,180 ANSCOR 6.9 7.1 7 7.1 7 7.1 68,300 480,700 0.88 0.89 0.84 0.93 0.83 0.89 7,745,000 6,747,070 ANGLO PHIL HLDG ATN HLDG A 0.9 0.92 0.9 0.92 0.89 0.92 7,791,000 7,051,180 0.91 0.92 0.9 0.91 0.9 0.91 244,000 220,040 ATN HLDG B 5.38 5.4 5.42 5.45 5.38 5.38 1,312,400 7,110,215 COSCO CAPITAL 5.4 5.45 5.45 5.52 5.4 5.4 2,375,000 12,947,999 DMCI HLDG 8.87 8.9 8.9 8.9 8.9 8.9 1,000 8,900 FILINVEST DEV FORUM PACIFIC 0.233 0.242 0.23 0.243 0.23 0.242 170,000 39,840 570 570.5 555 570 555 570 278,760 157,780,695 GT CAPITAL HOUSE OF INV 3.78 3.79 3.8 3.8 3.78 3.78 356,000 1,347,280 JG SUMMIT 65.4 65.5 65.5 66 65.2 65.4 1,175,400 77,042,390 4.82 4.99 4.75 4.8 4.75 4.8 1,500 7,150 JOLLIVILLE HLDG 5.26 5.68 5.26 5.26 5.26 5.26 5,300 27,878 KEPPEL HLDG A 1.73 1.74 1.48 1.76 1.45 1.74 89,249,000 147,822,310 LODESTAR 3.78 3.8 3.75 3.8 3.75 3.8 535,000 2,020,700 LOPEZ HLDG LT GROUP 14.62 14.68 14.8 14.96 14.36 14.62 978,200 14,260,528 MABUHAY HLDG 0.51 0.53 0.51 0.53 0.5 0.53 370,000 187,700 4.17 4.18 4.21 4.27 4.15 4.18 15,156,000 63,628,950 METRO PAC INV PACIFICA HLDG 5.01 5.02 5.1 5.3 4.99 5.02 163,300 824,052 1.46 1.48 1.29 1.5 1.26 1.48 9,529,000 13,439,480 PRIME MEDIA 2.81 2.95 2.95 2.95 2.95 2.95 3,000 8,850 REPUBLIC GLASS 1.35 1.37 1.25 1.37 1.21 1.35 1,648,000 2,168,260 SOLID GROUP 315 329 315 315 315 315 200 63,000 SYNERGY GRID 1,060 1,068 1,068 1,080 1,055 1,060 10,269,730 10,988,707,860 SM INVESTMENTS SAN MIGUEL CORP 126.5 126.6 126.5 126.7 126.1 126.5 78,740 9,956,303 SOC RESOURCES 1 1.06 0.85 1.17 0.85 1 9,030,000 9,497,900 2.15 2.69 2.09 2.11 2.09 2.11 3,000 6,310 SEAFRONT RES TOP FRONTIER 135.6 140 139.4 140 135.7 140 3,640 509,498 0.227 0.235 0.227 0.23 0.227 0.227 420,000 95,400 WELLEX INDUS 0.245 0.25 0.23 0.265 0.23 0.25 16,050,000 3,978,480 ZEUS HLDG

565,730 19,571 -40,328,765 -3,456,660 -10,602,262 685,580 110,050 -8,190 984,907 -1,878,584 56,935,545 -408,840 29,096,678.50 8,198,030 -26,600 4,087,008 -24,516,160 193,000 143,226,880 -3,531,000 2,090 -282,794 -

PROPERTY ARTHALAND CORP AYALA LAND ARANETA PROP AREIT RT BELLE CORP A BROWN CITYLAND DEVT CROWN EQUITIES CEBU HLDG CEB LANDMASTERS CENTURY PROP CYBER BAY DOUBLEDRAGON DM WENCESLAO EMPIRE EAST EVER GOTESCO FILINVEST LAND GLOBAL ESTATE 8990 HLDG PHIL INFRADEV CITY AND LAND MEGAWORLD MRC ALLIED PHIL ESTATES PRIMEX CORP ROBINSONS LAND PHIL REALTY ROCKWELL SHANG PROP STA LUCIA LAND SM PRIME HLDG VISTAMALLS SUNTRUST HOME VISTA LAND

0.66 40 1.3 33.85 1.66 0.94 0.79 0.147 5.68 5.1 0.41 0.345 14.3 6.83 0.295 0.092 1.19 0.89 7.42 1.37 0.72 3.81 0.52 0.405 1.49 19.54 0.285 1.42 2.62 2.15 36.75 3.98 1.78 4.4

0.67 40.35 1.36 33.9 1.67 0.95 0.8 0.15 5.9 5.12 0.425 0.36 14.44 6.95 0.3 0.093 1.2 0.9 7.57 1.39 0.73 3.82 0.53 0.41 1.51 19.58 0.3 1.43 2.65 2.19 36.9 4.05 1.79 4.44

0.68 40.1 1.27 33.15 1.61 0.93 0.79 0.147 5.68 5.1 0.43 0.35 14.4 6.9 0.295 0.091 1.21 0.9 7.69 1.4 0.72 3.8 0.55 0.4 1.54 19.18 0.3 1.43 2.6 2.23 37.3 4.05 1.74 4.45

0.68 40.9 1.36 33.9 1.67 0.95 0.8 0.153 5.68 5.14 0.43 0.35 14.44 6.95 0.305 0.092 1.22 0.9 7.69 1.41 0.73 3.91 0.56 0.41 1.56 19.58 0.3 1.43 2.66 2.23 37.5 4.05 1.8 4.45

0.66 40 1.26 33.15 1.61 0.93 0.79 0.146 5.68 5.08 0.405 0.35 14.2 6.75 0.295 0.091 1.18 0.89 7.4 1.37 0.72 3.8 0.5 0.4 1.44 19.18 0.3 1.39 2.6 2.13 36.75 3.93 1.73 4.35

0.67 40 1.36 33.9 1.67 0.94 0.79 0.15 5.68 5.12 0.425 0.35 14.44 6.95 0.3 0.092 1.19 0.9 7.42 1.37 0.73 3.81 0.53 0.405 1.51 19.58 0.3 1.43 2.65 2.2 36.75 4.05 1.78 4.44

350,000 4,798,500 313,000 867,400 157,000 1,830,000 70,000 6,560,000 7,000 431,900 32,880,000 660,000 988,500 99,200 670,000 570,000 18,406,000 127,000 78,700 2,335,000 5,000 21,400,000 167,648,000 150,000 3,127,000 1,373,500 180,000 1,336,000 243,000 476,000 4,015,300 81,000 1,226,000 768,000

234,080 193,692,055 398,450 29,315,175 260,140 1,713,770 55,310 968,670 39,760 2,201,317 13,509,450 231,000 14,122,624 681,585 201,600 52,260 21,995,550 113,520 588,019 3,240,080 3,640 82,382,170 88,223,040 60,150 4,750,940 26,745,392 54,000 1,875,910 643,730 1,036,380 148,074,790 322,690 2,183,100 3,381,710

80,400 45,569,180 -2,358,165 24,150 27,900 -32,390 146,000 503,214 219,800 66,500 -937,322 -1,068,650 205,580 -27,676,980 -19,130,530 885,000 1,700,142 -30,000 167,300 7,800 -68,712,640 701,600 -667,440

SERVICES ABS CBN 12.32 12.34 12.6 12.6 12.32 12.34 191,400 2,371,226 6.77 6.78 6.7 6.78 6.6 6.77 1,620,400 10,853,358 GMA NETWORK 0.475 0.495 0.49 0.495 0.47 0.495 87,000 41,695 MANILA BULLETIN 10.06 11 11.02 11.02 11 11 6,500 71,540 MLA BRDCASTING 2,040 2,050 2,040 2,080 2,040 2,040 12,130 24,842,930 GLOBE TELECOM PLDT 1,360 1,370 1,356 1,386 1,356 1,360 39,360 53,825,960 APOLLO GLOBAL 0.236 0.237 0.241 0.245 0.234 0.237 990,620,000 238,185,360 CONVERGE 18.52 18.58 20 21.2 18.52 18.52 42,172,400 808,932,249 DFNN INC 5.3 5.31 5.7 5.76 5.14 5.3 4,072,800 21,902,918 17.38 17.4 17.7 18.12 16.84 17.4 72,408,900 1,280,439,726 DITO CME HLDG 1.81 1.89 1.81 1.81 1.77 1.77 69,000 123,610 IMPERIAL 0.188 0.191 0.198 0.198 0.181 0.188 39,940,000 7,550,630 ISLAND INFO 2.02 2.09 2.05 2.12 2 2.01 148,000 300,190 JACKSTONES NOW CORP 3.3 3.32 3.42 3.42 3.21 3.3 8,195,000 26,967,780 TRANSPACIFIC BR 0.64 0.65 0.51 0.68 0.495 0.64 1,161,970,000 707,667,200 PHILWEB 2.62 2.63 2.7 2.7 2.61 2.63 729,000 1,916,290 2GO GROUP 8.37 8.5 8.6 8.6 8.3 8.37 49,300 416,816 14.66 15.52 15 15 14.64 14.66 3,000 43,986 ASIAN TERMINALS 4.55 4.56 4.63 4.7 4.55 4.56 2,174,000 9,993,860 CHELSEA 50 50.2 50.4 50.7 48.55 50 663,580 33,166,792 CEBU AIR 122.2 124 123 125 122.2 122.2 766,750 94,710,270 INTL CONTAINER LBC EXPRESS 16 16.48 16 16 15.98 16 14,200 227,056 1 1.04 0.97 1.04 0.97 1.04 207,000 214,910 LORENZO SHIPPNG 5.7 5.72 5.9 5.9 5.7 5.7 3,440,900 19,791,263 MACROASIA METROALLIANCE A 2.98 2.99 3.18 3.18 2.91 2.98 2,198,000 6,608,460 6.36 6.4 6.4 6.46 6.35 6.4 41,000 261,803 PAL HLDG 1.4 1.41 1.42 1.42 1.38 1.4 1,251,000 1,751,490 HARBOR STAR 5.7 5.74 6.88 6.88 5.51 5.7 6,892,900 40,197,206 DISCOVERY WORLD 10.1 11.08 11.2 11.2 10.08 11.08 1,100 12,086 GRAND PLAZA 0.54 0.55 0.53 0.57 0.53 0.55 8,102,000 4,449,170 WATERFRONT CENTRO ESCOLAR 6.53 7.03 6.52 6.52 6.52 6.52 9,188,000 59,905,760 600 650 600 600 600 600 20 12,000 FAR EASTERN U 8.12 8.65 8.12 8.12 8.12 8.12 6,300 51,156 IPEOPLE 0.405 0.41 0.41 0.415 0.4 0.41 1,930,000 789,550 STI HLDG 4.4 4.56 4.4 4.41 4.4 4.4 126,000 554,820 BERJAYA 7.9 7.95 7.77 7.96 7.75 7.95 1,724,400 13,640,436 BLOOMBERRY 2.1 2.12 2.05 2.11 2.05 2.11 163,000 335,750 PACIFIC ONLINE 1.71 1.75 1.71 1.75 1.71 1.75 372,000 638,910 LEISURE AND RES MANILA JOCKEY 2.14 2.19 2.1 2.2 2.1 2.2 29,000 62,410 2.65 2.71 2.72 2.74 2.65 2.71 5,655,000 15,149,540 PH RESORTS GRP PREMIUM LEISURE 0.455 0.46 0.47 0.47 0.455 0.455 3,600,000 1,649,050 ALLHOME 8.4 8.45 8.58 8.58 8.37 8.45 992,100 8,354,057 1.41 1.42 1.44 1.44 1.41 1.41 1,494,000 2,113,130 METRO RETAIL 38.8 39.1 38.8 39.15 38.5 38.8 975,000 37,678,900 PUREGOLD 57.8 57.9 56.8 58.45 56.8 57.9 689,690 39,817,209.50 ROBINSONS RTL 102 103 103.8 103.8 103 103 111,150 11,488,018 PHIL SEVEN CORP SSI GROUP 1.36 1.37 1.37 1.38 1.35 1.36 1,951,000 2,662,600 WILCON DEPOT 17.92 17.94 17.98 18 17.92 17.94 554,500 9,950,136 APC GROUP 0.455 0.46 0.46 0.46 0.445 0.455 4,450,000 1,998,900 7.21 7.3 7.1 7.71 6.91 7.21 284,400 2,104,058 EASYCALL 5.15 5.3 5.25 5.25 5.25 5.25 2,500 13,125 IPM HLDG 2.89 2.9 3.1 3.14 2.89 2.9 138,137,000 416,307,490 PRMIERE HORIZON 4.6 4.72 4.76 4.76 4.56 4.72 13,000 60,320 SBS PHIL CORP

1,653,550 -12,329,220 3,020,620 -164,242,603 2,479,506 19,066,166 -848,850 2,040 552,980 11,080,300 -13,030 860 -36,656 -96,730 16,308,804.50 -28,821,488 -1,358,195 -21,300 -1,362,086 -8,400 -339,550 -211,023 2,050 230,850 133,550 385,950 -2,401,987 -460,470 21,882,685 -5,005,462.50 47,253 55,270 885,854 -7,037,860 -

MINING & OIL ATOK 7.38 7.4 7.15 7.45 7 7.38 1,936,200 14,021,388 -23,370 1.58 1.6 1.57 1.59 1.55 1.58 3,682,000 5,775,110 -686,110 APEX MINING 0.0049 0.005 0.0052 0.0053 0.0049 0.0049 10,690,000,000 53,144,900 795,100 ABRA MINING 6.4 6.41 6.25 6.41 6.25 6.41 968,600 6,140,784 561,167 ATLAS MINING BENGUET A 3.1 3.12 3.18 3.19 3.02 3.1 130,000 403,030 2.95 3 2.91 2.96 2.91 2.96 2,000 5,870 BENGUET B 0.32 0.33 0.33 0.34 0.31 0.33 1,340,000 435,600 COAL ASIA HLDG 2.75 2.8 2.75 2.8 2.64 2.8 57,000 152,540 30,750 CENTURY PEAK 11.98 12 10.58 12.68 10.58 11.98 316,700 3,720,390 -23,920 DIZON MINES 2.69 2.7 2.7 2.72 2.61 2.7 8,894,000 23,767,810 3,092,480 FERRONICKEL 0.52 0.53 0.52 0.56 0.51 0.52 13,947,000 7,329,560 -5,200 GEOGRACE 0.162 0.163 0.153 0.165 0.153 0.162 65,450,000 10,435,990 LEPANTO A LEPANTO B 0.16 0.161 0.155 0.161 0.155 0.16 4,900,000 780,660 0.01 0.011 0.01 0.011 0.01 0.01 33,800,000 339,400 MANILA MINING A 0.01 0.011 0.011 0.011 0.01 0.01 238,200,000 2,513,600 -2,200 MANILA MINING B MARCVENTURES 1.72 1.73 1.46 1.72 1.46 1.72 11,114,000 17,711,850 4,497,510 2.9 2.98 3.13 3.13 2.89 2.99 388,000 1,146,590 2,910 NIHAO 5.52 5.53 5.72 5.72 5.51 5.53 5,775,600 32,139,038 3,393,458 NICKEL ASIA 0.425 0.445 0.44 0.46 0.425 0.445 330,000 146,800 OMICO CORP 1.27 1.28 1.13 1.27 1.09 1.27 23,549,000 28,605,210 -33,400 ORNTL PENINSULA PX MINING 4.42 4.46 4.4 4.46 4.36 4.42 377,000 1,665,050 -97,670 SEMIRARA MINING 12.88 12.9 12.8 12.9 12.8 12.88 653,900 8,409,138 -274,108 UNITED PARAGON 0.01 0.011 0.01 0.011 0.01 0.01 234,400,000 2,389,600 1,000 ACE ENEXOR 20.9 21.6 22 22.8 20.8 21.6 501,600 10,820,420 907,415 ORNTL PETROL A 0.013 0.014 0.013 0.014 0.013 0.013 366,500,000 4,808,600 0.013 0.014 0.014 0.015 0.013 0.014 2,918,400,000 40,864,900 140,000 ORNTL PETROL B 0.013 0.014 0.014 0.014 0.013 0.014 574,100,000 7,736,300 PHILODRILL 10.16 10.18 9.5 10.26 9.5 10.18 3,132,600 31,467,955 -939,184 PXP ENERGY PREFFERED HOUSE PREF B 100 100.5 100.9 100.9 100 100 7,110 711,090 100 101 100 100 100 100 10 1,000 HOUSE PREF A 512 522 510.5 522 510.5 512 290 148,530 AC PREF B2R 102.2 104 104 104 104 104 420 43,680 CPG PREF A 100.7 101 100.6 100.6 100.6 100.6 10 1,006 DD PREF FGEN PREF G 106.2 108 108.1 108.1 105 106.1 25,830 2,723,055 503 504 504 504 503 503 170 85,630 GLO PREF P 1,031 1,034 1,031 1,031 1,031 1,031 4,000 4,124,000 GTCAP PREF B 100.5 101 101 101 101 101 2,100 212,100 MWIDE PREF 101 101.5 101 101 101 101 58,500 5,908,500 MWIDE PREF 2B 106.7 107.9 106.7 108 106.7 108 11,940 1,277,362 PNX PREF 3B 1,013 1,018 1,014 1,018 1,013 1,013 355 359,955 PNX PREF 4 1,095 1,096 1,095 1,095 1,095 1,095 2,095 2,294,025 PCOR PREF 3A SFI PREF 1.6 1.74 1.57 1.57 1.57 1.57 21,000 32,970 79.1 79.9 80 80 79 79.9 4,320 342,988 19,975 SMC PREF 2C SMC PREF 2E 77 77.2 77 77.2 77 77.2 8,230 635,056 79.3 79.35 79.35 79.35 79.3 79.3 15,320 1,214,891 SMC PREF 2F 77 77.2 76.9 77 76.9 77 35,780 2,754,339.50 SMC PREF 2G 77 78 77.5 78 77.5 78 25,670 1,999,885.50 SMC PREF 2H 78.9 79 78.9 78.9 78.9 78.9 37,000 2,919,300 SMC PREF 2I 76.75 77.1 76.8 77.2 76.75 77 36,710 2,827,855 SMC PREF 2J SMC PREF 2K 76.8 76.85 76.25 76.8 76.25 76.8 12,570 961,453 -15,260 PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 12.32 12.5 12.34 12.34 12.32 12.32 20,500 252,686 6.5 6.67 6.65 6.67 6.6 6.67 127,400 847,638 174,384 GMA HLDG PDR WARRANTS LR WARRANT 0.88 0.89 0.88 0.9 0.86 0.88 176,000 153,780 - SMALL & MEDIUM ENTERPRISES ALTUS PROP 22.7 22.95 23.25 23.25 21.95 22.95 393,400 8,883,740 3.03 3.04 3.02 3.06 3.02 3.04 1,360,000 4,129,780 ITALPINAS 6 6.1 6 6.1 5.9 6 43,200 258,300 KEPWEALTH 2.82 3 3.07 3.07 2.8 3 451,000 1,300,700 MAKATI FINANCE 7.5 7.51 7.06 7.5 7.06 7.5 39,861,900 290,875,039 3,894,520 MERRYMART EXHANGE TRADE FUNDS FIRST METRO ETF 104.7 106.3 105.5 106.7 104.7 104.7 18,170 1,915,038 358,341

www.businessmirror.com.ph

SM Prime income dropped by more than half in 2020

By VG Cabuag

@villygc

hopping mall operator SM Prime Holdings Inc. said its income last year declined by more than half to P18 billion, from P38.1 billion in 2019, as rental earnings fell due to the lockdown measures. Consolidated revenues for the period dropped by 30 percent to P81.9 billion from the previous P118.3 billion. “SM Prime remains committed in its effort to support the national government and other organizations to contain and combat the spread of Covid-19 in the country,” said Jeffery C. Lim, SM Prime president.

“As our core businesses slowly recover from the contraction brought about by community quarantines, our company will continue providing avenues that will further enhance and facilitate these collective efforts with various organization, while sustaining our assistance to our employees, business partners and the communities we serve.”

SM Prime’s Philippine mall business reported P23.6 billion revenues some 59 percent lower from P57.8 billion in 2019. Local malls’ rent income is P21.8 billion in 2020 and is just about half of the P48.4 billion it had in 2019, it said. The company launched SM City Butuan and SM City Mindpro, both in Mindanao, in the last quarter of 2020 with safety protocols in place to provide basic needs and services to the communities in the region. Its residential business, led by SM Development Corp. posted a 6-percent increase in revenue to P46.5 billion last year from P43.7 billion in the previous year. Operating income also rose by 16 percent to P19.7 billion from P17 billion. Reservation sales grew 10 percent, bringing the sales take-up to P99 bil-

lion last year, from P90 billion in the previous year. “We are optimistic, that together as one, we will all rise from this challenge and look forward to a better year. We encourage our fellow Filipino to keep supporting our local businesses while practicing safety protocols at all times,” Lim said. The company’s commercial properties business segment reported P4.8 billion revenues in 2020 almost flat from the previous P4.6 billion. The business’ operating income reached P3.9 billion from the previous year’s P3.8 billion. SM Prime’s hotels and convention centers business segment recorded P1.6 billion revenues for the year, or just a fraction of the P5.1 billion revenues in 2019. The company opened Olongapo City Convention Center in Zambales last year.

PNB appoints DDB-Optimax as digital marketing agency

hilippine National Bank (PSE: PNB) has appointed integrated media agency Optimax Communications Group, Inc. (Optimax) of DDB Group Philippines (DDB) as its new digital marketing agency. PNB CEO Wick Veloso said, “We are shifting our digital marketing into high-gear with the help of our new marketing agency, DDBOptimax. We are optimistic that this partnership will help us drive our strategy as we bring solutions to our customers whenever and wherever they need them.” Veloso further emphasizes, “We see this partnership helping us enhance business yields in terms of leads generation, website statistics, and social media engagements. All these are aimed towards fulfilling our goal to become a more dynamic, innovative, and customerfocused bank that offers stability and security for Filipinos worldwide.” DDB was named PNB’s new Digital Marketing Agency following a pitch in October last year. To support the engagement starting January 2021, DDB created a hybrid team that is tailor-fit for PNB: the PNB-Optimax team headed by Optimax General Manager Ela Federigan-Chua. “Digital marketing has become even more essential during this pandemic. We have helped pivot clients’ campaigns from ones using traditional media to ones using digital channels and other new-normal friendly executions. And we are happy to add PNB to the roster of clients who can benefit from our expertise in integrated media especially digital media executions,” said Federigan-Chua. The PNB and DDB-Optimax partnership

is set to create a stronger digital marketing push for the bank’s credit card, retail banking, and remittance solutions, as well as its online banking channels. This will entail agency outputs such as a digital video portfolio that features social influencers, always-on digital/social media content, and business-building tactical digital materials. In terms of services, DDB- Optimax will provide account management, performance marketing, agile content, social media, and influencer management. Established by the Philippine government in 1916, PNB is one of the country’s largest private universal banks in terms of assets and deposits. It provides a full range of banking and other financial services to its highly diverse clientele comprised of individual depositors, small and medium enterprises, domestic and international corporations, government institutions, and overseas Filipinos. It has one of the industry’s widest domestic branch networks with 715 branches and more than 1,500 ATMs strategically located nationwide. It has the largest number of overseas offices with more than 70 branches, representative offices, remittance centers, and subsidiaries abroad. The multi-award-winning DDB Group Philippines is known for its human-centric design solutions. It is part of the DDB Worldwide Communications Group, known globally as DDB, one of the world’s largest and most influential advertising and marketing networks. DDB consists of more than 200 offices in over 90 countries with its flagship office in New York.

Uber CEO promises gig workers better rights ahead of EU laws

ber Technologies Inc. Chief Executive Officer Dara Khosrowshahi said he was “ready to do more and go much further” to improve social protections for so-called gig economy workers in Europe, but that new legislation was needed. “The current legal ambiguity on the status of independent workers makes it difficult for platforms like Uber to provide both access to flexible work and to social protections,” Khosrowshahi said via email. The European Union also wants to improve the working conditions of platform workers, and Khosrowshahi’s comments precede the European Commission publishing ideas for how this could be achieved. Those recommendations are expected later this month, with legislative proposals possible by the end of the year. Margrethe Vestager, the EU’s antitrust chief, has for instance said regulators are considering exemptions to competition rules for organized labor to allow platform

workers to discuss wages without running afoul of the bloc’s rules. The Uber chief said it’s key that drivers maintain the flexibility to choose when they work. Meanwhile, some gig workers in California are challenging Prop 22, a ballot measure bankrolled by Uber and other platforms. This designates app-based drivers as contractors under state law—rather than employees entitled to protections like sick pay and worker’s compensation—though it provides for some alternative benefits. Khosrowshahi said some principles from Prop 22 could be applied in Europe, including rules that guarantee independent workers access to benefits and protections without the need for litigation. In a white paper published Monday and sent to the European Commission, Uber offered suggestions such as establishing a portable benefits fund, letting platform workers accrue funds from different companies to access protections and benefits they want. Bloomberg News

mutual funds

February 15, 2021

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 222.1 -7.44% -8.65% -1.23% -2.25% ATRAM Alpha Opportunity Fund, Inc. -a 1.3246 7.22% -6.46% 4.77% 0.88% ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.0717 -8.7% -12.53% -2.55% -1.96% Climbs Share Capital Equity Investment Fund Corp. -a 0.7763 -6.93% -7.84% n.a. -3.43% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.7052 -12.98% n.a. n.a. -4.91% First Metro Save and Learn Equity Fund,Inc. -a 4.8238 -4.75% -6.79% -0.48% -2.38% First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.7199 -10.65% -9.8% -5.92% -5.25% MBG Equity Investment Fund, Inc. -a 99.39 4.25% -5.52% n.a. -2.5% PAMI Equity Index Fund, Inc. -a 45.7968 -5.55% -6.68% 0.43% -2.24% Philam Strategic Growth Fund, Inc. -a 477.92 -5.59% -6.61% -0.34% -2.26% Philequity Alpha One Fund, Inc. -a,d,5 1.0666 7.97% n.a. n.a. -2.8% Philequity Dividend Yield Fund, Inc. -a 1.1509 -6.12% -6.13% 0.51% -1.48% Philequity Fund, Inc. -a 34.0665 -5.33% -6.06% 1.17% -2.02% Philequity MSCI Philippine Index Fund, Inc. -a 0.8889 -8.42% n.a. n.a. -2.64% Philequity PSE Index Fund Inc. -a 4.6857 -5.17% -6.26% 1.21% -2.2% Philippine Stock Index Fund Corp. -a 783.96 -4.98% -6.15% 1.15% -2.21% Soldivo Strategic Growth Fund, Inc. -a 0.7079 -9.28% -9.79% -2.8% -1.53% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.5485 -10.03% -8.23% -0.38% -2.08% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.897 -5.27% -6.45% 0.97% -2.26% United Fund, Inc. -a 3.2675 -6.17% -5.28% 1.85% -1.55% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 105.2179 -4.98% -5.93% 1.88% -2.17% Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b $1.3455 31.23% 6.94% 12.22% 11.85% Sun Life Prosperity World Voyager Fund, Inc. -a $1.7948 25.31% 12.42% n.a. 7.29% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.6659 9.03% -3.26% -0.2% -0.16% ATRAM Philippine Balanced Fund, Inc. -a 2.251 7.5% -2.74% 1.47% -1.51% First Metro Save and Learn Balanced Fund Inc. -a 2.5848 1.04% -2.32% 0.34% -1.61% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1951 -9.72% n.a. n.a. -1.76% NCM Mutual Fund of the Phils., Inc. -a 1.9559 1.39% -0.45% 2.16% -0.41% PAMI Horizon Fund, Inc. -a 3.7367 1.33% -1.25% 1.28% -1.36% Philam Fund, Inc. -a 16.717 1.31% -1.33% 1.25% -1.3% 2.0707 Solidaritas Fund, Inc. -a -0.12% -2.62% 1.09% -1.12% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.5337 -4.84% -4.13% 0.13% -1.11% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 1.0087 2.07% n.a. n.a. -1.36% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.9307 -2.42% n.a. n.a. -1.95% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.9136 -3.69% n.a. n.a. -2.09% Sun Life Prosperity Dynamic Fund, Inc. -a 0.8787 -5.27% -4.76% -0.42% -1.01% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03885 -0.1% 3.37% 1.89% -0.69% PAMI Asia Balanced Fund, Inc. -b $1.2021 15.92% 4.51% 7.63% 4.51% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.7619 18.28% 9.33% 10.73% 5.52% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.2303 8.87% 5.06% n.a. 2.35% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 371.8 3.65% 3.29% 2.76% 0.2% ATRAM Corporate Bond Fund, Inc. -a 1.9039 -0.21% 0.45% 0.17% 0.19% Cocolife Fixed Income Fund, Inc. -a 3.2189 2.67% 4.32% 4.67% 0.13% Ekklesia Mutual Fund Inc. -a 2.2953 2.7% 2.85% 2.15% -0.03% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4476 3.59% 3.39% 2.12% -0.23% Philam Bond Fund, Inc. -a 5.6% 5.06% 2.71% -0.07% 4.6312 Philam Managed Income Fund, Inc. -a,6 1.323 5.4% 4.46% 2.73% 0.14% Philequity Peso Bond Fund, Inc. -a 3.9862 5.33% 4.48% 2.65% -0.37% Soldivo Bond Fund, Inc. -a 1.0387 7.08% 4.53% 2.21% -0.32% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.2045 3.82% 4.74% 3.07% -0.05% Sun Life Prosperity GS Fund, Inc. -a 1.749 3% 3.99% 2.46% -0.34% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $485.45 3% 3.15% 2.8% 0.33% ALFM Euro Bond Fund, Inc. -a Є219.54 -0.56% 1.06% 1.3% 0.16% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2694 4.49% 4.28% 2.85% -0.86% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0264 1.54% 2.24% 1.67% -0.75% PAMI Global Bond Fund, Inc -b $1.0898 -1.47% 1.29% -0.1% -0.27% Philam Dollar Bond Fund, Inc. -a $2.5315 3.45% 5.16% 3.21% -0.16% Philequity Dollar Income Fund Inc. -a $0.062614 3.01% 3.33% 2.38% 0.47% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.2177 -1.13% 2.97% 2.05% -0.18% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 130.02 2.91% 3.32% 2.59% 0.16% First Metro Save and Learn Money Market Fund, Inc. -a 1.0489 1.73% n.a. n.a. 0.08% Sun Life Prosperity Money Market Fund, Inc. -a 1.2987 2.31% 2.93% 2.6% 0.16% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0537 1.36% 1.77% n.a. 0.12% Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 1.184 n.a. n.a. n.a. 4.82% 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."

www.businessmirror.com.ph

Banking&Finance BusinessMirror

House panel okays tax breaks in LGU vax deals

HE House Committee on Ways and Means on Monday approved the tax provisions of a bill allowing local government units to procure Covid-19 vaccines direct from manufacturers. House Committee on Ways and Means Committee Chairman Joey Sarte Salceda said his committee approved the tax provision of House Bill 8648 or the proposed Emergency Vaccine Procurement Act of 2021, which aims to complement the government’s strategy of procuring Covid-19 vaccines as quickly as possible. “Although I would have preferred that we benefit from purchasing in bulk, LGUs tend to process procurement faster. Every day counts in the fight against Covid-19,” Salceda said. The tax provision of the bill provides that “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.” “The tariff rates for vaccines is actually just 1 percent. It’s not really about the savings, although the exemption will allow them to buy slightly more vaccines. It’s the amount of processing that the local governments will save from this bill that I think is what matters more,” Salceda said. Filed by Speaker Lord Allan Velasco, Majority Leader Ferdinand Martin Romualdez and Minority Leader Joseph Stephen Paduano, the bill also provides exemptions to compliance by LGUs with the procurement requirements under Republic Act 9184 or the Government Procurement Reform Act. Under HB 8648, 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 of the medication and vaccine, 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 Covid-19 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 pro-

curement of Covid-19 drugs and vaccines, unless otherwise directed by the President.

Clear guidelines

Meanwhile, Salceda said the national government has to set clear guidelines as to how LGUs can procure, store, and administer vaccines in the most efficient manner possible. “In the proper time, I might propose amendments to the bill. In particular, there has to be some way to cluster individual LGU procurements so that we can benefit from economies of scale. That will be especially useful in storage, since we can have shared storage facilities for LGUs. That’s what I am working on next: shared LGU facilities for storage,” Salceda said. “Procurement is just half the problem. Logistics is what matters once the vaccines are here. We need to identify and fund shared cold storage facilities. We need safe and efficient transport for both the vaccines and the availers. We need to train and protect our health workers, particularly the BHWs whom I expect will be the most important link in the vaccine value chain. We need to help LGUs figure these things out,” Salceda added. The lawmaker said the Department of Health has to be clear about vaccination guidelines, and has to help LGUs meet these standards. “One of the problems that we saw early during the pandemic is that when some LGUs would fail to meet DOH standards, we would see them only reject the requests of LGUs. There has to be more serious effort to help LGUs meet the standards. And the standards have to be clear from the very beginning, so that we save time from useless back-and-forth,” Salceda added. Under the bill, 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. Speaker Velasco 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. Jovee Marie N. Dela Cruz

Stalling rate hike, reforms will put SSS in dire straits–Ignacio

By Jovee Marie N. dela Cruz

@joveemarie

HE Social Security System (SSS) on Monday said delaying the “long overdue reform,” including a hike in member contributions, will only worsen an already dire financial situation of the institution.

At a hearing of the House Committee on Public Accounts, SSS President and Chief Operating Officer Aurora Ignacio said the approval of House Bill 8512—temporarily suspending the members’ contribution increase, originally scheduled this year, will imperil the sustained benefit payments to members, rather than strengthening the SSS fund. “The position of the SSS is not to conform to the requested or the proposed deferment simply because it is going to be a threat to the solvency of the unfunded liabilities of SSS,” Ignacio told lawmakers. “This will, more or less, weaken the position of SSS rather than strengthening the fund for the members. At the outset, it will bring more difficult times for SSS as regards the threatened solvency on the unfunded liabilities,” she added. With this, Ignacio said resources are insufficient to enable the SSS

to support the system for the next generation of pensioners. “In 2045, this is the year when the net revenue or the contributions and the income, will be less than the benefits and the expenses. In short, the fund will become negative to cover the benefits and the expenses given the age of the contributing members and the increase in the retirement age of our pensioners,” she said. Ignacio also said they are also looking at the fertility rates of SSS members, affecting its fund. In 1980, she said there were about nine workers to one pensioner ratio. “In year 2020, there are about six workers to one pensioner in ratio and in 2050—because of the aging population and decreasing fertility rates—there will be three workers to one pensioner,” Ignacio said. “Right now, the working population is subsidizing much of the pension that the pensioners are receiv-

P41.4-B loss

She cited projections of a loss of P41.37 billion in 2021 contributions if implementation of the contribution increase is suspended.

By Tyrone Jasper C. Piad @Tyronepiad

DO Unibank Inc. is eyeing to install more upgraded automated teller machine (ATM) terminals this year to allow cardless, QR (quick response) code-based withdrawals. The Sy-led bank said in a statement on Monday there are over 100 QR-enabled ATMs in Makati currently. The QR code-based withdrawal is seen to provide a safer way of accessing funds via ATM terminals, BDO Senior Vice President and Head of ATM Network and Applied Payment Solutions Tovi Mendoza said. “Now, our clients will enjoy faster and more convenient transactions, and most importantly, limit the risk of catching Covid-19 since they will touch the ATM surface a lot less,” Mendoza explained. Clients can generate the QR code via the digital banking app. Beginning April 7, BDO, along with other local banks, will be adopting acquirer-based ATM fee charging principle as mandated by the Bangko

Bank clients transact at automated teller machines at a BDO branch in Quezon City in this February 11, 2021 file photo. NONOY LACZA

Sentral ng Pilipinas. This scheme will charge cardholders for balance inquiry or fund withdrawal based on the fees imposed for other banks by the ATM operators. With this, the Sy-led bank will charge nonBDO clients P18 for withdrawal and P2 for balance inquiry.

(center) holds her plaque of commendation from Finance Secretary Carlos G. Dominguez III (right) and Customs Commissioner Rey Leonardo Guerrero for her outstanding performance that resulted in the revenue collection of P28,677,000—with a surplus of P3.38 billion or 13.4 percent positive deviation on its collection target—for the year 2020. The Port of Subic was also commended for its significant contribution in the achievement of the Bureau’s 2020 collection target, and its earnest commitment to fulfill the agency core mandates of revenue collection, trade facilitation and border protection. The award was given at the BOC’s 119th Founding Anniversary at South Harbor, Port Area, Manila on Monday, February 15. ROY DOMINGO

ing. Now many families have only two [children] compared [to] before [when there were] 4 to 8 children in the family,” she said. In filing House Bill 8512, Speaker Lord Allan Velasco said the temporary suspension of the hike in SSS contributions will help the workforce achieve faster recovery from the impact of the Covid-19 pandemic. Notwithstanding the good intention of the scheduled increases in SSS contribution rates under RA 11199, Velasco said it must be suspended while the country faces a national public health emergency. “We are witnesses to the negative impact of this Covid-19 outbreak,” and given this, he said “the sovereign government must be given the prerogative to bend the rules of the social security law in favor of the greater good.” He said that increasing the rate of contributions of SSS members will “strikingly undermine the recovery effort of everyone suffering from job losses, wage reduction, business closures, and health-related issues.” However, Ignacio disclosed that SSS stands to lose over P41 billion worth of contributions if the scheduled increase in contribution rate is shelved.

Also, she said, the small scheduled increase in contributions would be equivalent to around P41 billion of benefits and loans to 3.3 million beneficiaries. This amount should continue to enable the SSS to grant even more benefits and loans for the greater good of the SSS membership, both present and future. “We submit that the additional peso contributions are relatively small, ranging from P15 to P100 for employed members, from P30 to P200 for self-employed and voluntary members and from P80 to P200 for OFW members,” she added. According to Ignacio, the predetermined contribution schedule is a long overdue reform which will offset the financial impact of improved and expanded benefits that the SSS has provided since 2017. “Apart from the emergency Covid pandemic responses, these are the additional P1,000 monthly benefit allowance, expanded maternity benefit and unemployment insurance benefit, with no corresponding additional funding,” she added. “At this time of the Covid-19 pandemic, when members and pensioners have clamored for heightened benefits, including allowable loans, we would expect that proposed measures should clearly strengthen the SSS, not weaken it financially. Stopping the collection of this considerable amount would clearly weaken our institution established to provide social protection,” Ignacio said.

BDO to install more machines for QR code-based use

Dating and budgeting

BEST PERFORMER Bureau of Customs Port of Subic District Collector Maritess Martin

Tuesday, February 16, 2021 B3

AVE you experienced spending beyond your budget because of dating? You want to pursue your special someone and yet feel like you are spending too much and it is not sustainable? If you’ve experienced those things, this article is for you. When I was a student my allowance was just for my daily needs, but when I started working I enjoyed my salary. It allowed me to bless my family and others. I began to buy a better set of clothes that helped me be more presentable. For food, not being a fan of eating in expensive restaurants, I just ate based on quality serving, not merely for the ambiance. And so I diligently saved some of my income every payday, which I think majority of men can relate to. During courtship, I realized that I want to serve my former girlfriend— now my wife—with the best way I can. My expenses adjusted and I began to wonder if I should always bring her to an expensive restaurant to get her “Sweet YES” or just be true to her, as just a normal guy. I occasionally sprang some surprises for her, which added to my normal budget. I struggled at first, but then along the way I realized the following

Karlo Biglang-Awa

personal finance principles which helped me become wise in my expenditures. “You can pursue and date someone while being wise in preparing for your future.” Here are my top 4 dating tips which I also learned from my mentors and friends: 1. Be excellent, not extravagant. As a guy, one may think that to get her yes, one should always put his best foot forward. This is not really necessary; being the real you is better with the goal to lead, serve and protect her. 2. Research and observe. With the help of our family, friends and the Internet, we can now look for promos and restaurants that are good but not pricy. Sometimes we may eat in just simple places. What’s important is the meaningful time between the two of you. 3. Value memories over things.

BDO, in a recent advisory, encouraged 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 bank said. This year, BDO is set to beef up its digital platforms with an end-to-end engineering process to enhance customer experience. It is addressing the capacity issues of its online platforms given that numerous complaints were received last year. Some customers said they had a hard time accessing their accounts or accomplishing transactions online. Also, BDO is aiming to streamline bank operations through re-engineering of business processes, which includes robotic process automation. In January to September 2020, the bank saw its net earnings plunge by 48 percent to P16.6 billion because of higher provisions for potential credit loss. BDO shares climbed by 1.12 percent, or P1.20, to close at P108.20 each amid the 0.16-percent uptick for the benchmark index on Monday.

As you serve your special someone, it is good to know her likes and dislikes, strengths and weaknesses and to even celebrate your differences. Your partner will surely appreciate your gifts but more than that, she will appreciate your efforts and thoughtfulness in giving surprises, letters and even in bringing her into different places. 4. Be creative. Because of this pandemic, there are a lot of restrictions in going out so if you can prepare your own food, go for it. Study recipes in the Internet; instead of buying expensive gifts, try to create personalized gifts. You can save a lot of money and because of that, you can even have additional funds for your future. This season, a lot of couples got married, and creativity is one of the aspects that can help us grow our finances for such long-term endeavors as weddings. I personally experienced the effect of financial planning during courtship, engagement season and now that we are married. Do not be afraid to discuss finances with your family and special someone as we start 2021. Budget together, save for your future, get protected from life’s risk and invest for your future

and your children’s future as well. In reality, dating or pursuing someone may mean added cost to us. But at the end of the day, we can be secured that the One who holds our future will guide and provide for us. Our Lord will give us wisdom in our decisions with the help also of the people around us in building our future. Aside from these principles, if you are planning to get married, I would like to encourage you with this verse: Proverbs 18:22 He who finds a wife finds what is good and receives favour from the Lord. God’s favor will also overflow from the time we acted in faith to serve someone who will be our spouse. His provision for us is not limited in our salary or profit but it will come in different forms through people and unexpected circumstances. Life will be more fruitful if we will become faithful in small things; eventually God will entrust us with greater things. Karlo Biglang-Awa is a registered financial planner of RFP Philippines. To learn more about personal-financial planning, attend the 88th RFP program this March 2021. To inquire, e-mail info@ rfp.ph or text at 0917-6248110.

Tuesday, February 16, 2021 • Editor: Gerard S. Ramos

Art

BusinessMirror

www.businessmirror.com.ph

Singapore Art Week 2021 tackles, embodies the state of evolving visual arts scene THE recently concluded Singapore Art Week 2021 served as the annual event’s first-ever blended edition. Several exhibitions combined technology and art, such as Inner Like the OutAR by Tulika Ahuja, a.k.a. Mama Magnet. “I’m interested to see how we can continue to create more seamless physicaldigital interactions in the near future,” the artist said.

Today’s Horoscope By Eugenia Last

CELEBRITIES BORN ON THIS DAY: The Weeknd, 31; Elizabeth Olsen, 32; Ice-T, 63; LeVar Burton, 64. Happy Birthday: Make adjustments that encourage a better home life. A well-thought-out and organized household will help you reach your long-term goals. Negotiate with finesse when dealing with someone who can make a difference regarding your prospects. Stick to your plans, regardless of what others decide to do. Strive for stability and security; you’ll attain peace of mind. Your numbers are 4, 12, 18, 22, 26, 32, 43.

ARIES (March 21-April 19): Keep your eyes on your objective. It doesn’t matter what everyone else is doing; what does matter is that you take care of your responsibilities and forge ahead relentlessly. You are only as good as your word. Live up to your promises. HHH

TAURUS (April 20-May 20): Update a license, contract or personal identification. Don’t take an unnecessary risk that may leave you in a precarious position at work or with an organization or group. Control your temper; the fallout will not be worthwhile. HHH

HIS year’s Singapore Art Week introduced a string of firsts during the annual event’s nine-day run that concluded on January 30. Among the fresh offerings of what is tagged as “the pinnacle of Singapore’s visual arts scene” was the SAW Art Symposium, a series of curated talks and panel discussions that featured cultural leaders and policy-makers. Conducted in person at Victoria Theatre in Singapore and live-streamed simultaneously online, the seven panels discussed topics relevant to the changing arts ecosystem in light of the prevailing global pandemic, as well as its implications for the future. “One takeaway I had was that the pandemic and travel restrictions have forced galleries, museums, art fairs and collectors to accelerate their adoption of social media and new software into their SOPs,” said Chong Huai Seng, cofounder of The Culture Story and art collector, who spoke on the panel titled “How Sustainable is Art Going Digital?” Meanwhile, according to Takashi Kudo, communications director of international art collective teamLab, the conversations gave industry stakeholders new creative hints and inspiration to create art, even amid these challenging times. “It is important to seek out and affirm an idealistic part of humanity, and present an idea of the future; that’s why we try to create art,” said Kudo, who spoke on the panel “The Future of Digital Technology in Art.” While the discussions tackled the role of digital technology in the art landscape, SAW 2021 in itself embodied the blurring lines between technology and art. For the first time in its history, SAW held its inaugural hybrid edition. The event’s dynamic lineup of art and interventions took over bus stops, car parks and the digital realm. SAW 2021 showcased over 100 programs presented by more than 300 independent artists and

GEMINI (May 21-June 20): You stand to get ahead if you share your ideas and follow through with your plans. Be aware that someone will be eager to take credit for what you do; be prepared to prove otherwise. A partnership looks inviting and personal gain promising. HHHH

curators, celebrating the resurgence of Singapore’s vibrant arts community following the country’s gradual lifting of Covid-19 restrictions. This year’s audiences were treated to various showcases that had artists experimenting and breaking creative boundaries. These included a public art exhibition along the bus 175 route cocurated by Amelia Abdullahsani and Merryn Trevethan, titled Bus.Stop.Art, as well as Singapore’s first mall-wide art activation at Creative Unions curated by Neighborhood and presented by Funan, which brought together Singaporean artists and retail brands in a series of collaborations. SAW 2021 also leveraged newer technologies such as augmented reality (AR) and virtual reality (VR) to introduce visual art to more audiences at home and outside of Singapore. The fourth IMPART Collectors’ Show: Leap of Faith, for example, took online audiences into the homes of private collectors around the region. While digital technology played a vital role in this year’s festivities, the physical offerings of SAW still allowed audiences to experience art in-person despite the pandemic. Maybe we read too much into things presented the use of found objects by artist Berny Tan, while the inaugural Singapore Ceramics Now 2021 by Jason Lim and SEED Art Space displayed the largest survey of contemporary ceramic art practices in Singapore.

SAW also continued to be a stage for international collaborations, reflecting Singapore’s openness and diversity as a regional arts hub. The project S.E.A. Focus, which has grown to become one of the highlyregarded art platforms in Southeast Asia, was able to bring the best representation of galleries and artworks to Tanjong Pagar Distripark despite travel restrictions. Similarly, global travel restrictions notwithstanding, over 40 international artists from the UK, US, Australia, Indonesia, Taiwan, Malaysia and beyond worked with Singaporean artists across the digital space to generate cross-collaborative programs. These included headliner projects such as hybrid exhibition Otherworlds: non/digital realities, produced in collaboration with Hong Kong-based Altermodernists, as well as Open to Interpretation by The Asian Art Institutum, organized in collaboration with Gasworks in London. SAW 2021 was a joint initiative by the National Arts Council, the Singapore Tourism Board and the Singapore Economic Development Board. According to NAC Chief Executive Officer Rosa Daniel, the rich diversity of artistic programming, privatepublic partnerships and activation of spaces across Singapore in SAW 2021 is the result of a cohesive visual arts community that stepped up amid the significant challenges arising from the Covid situation in 2020. n

Shang celebrates National Arts Month with three major exhibits IN celebration of the National Arts Month, Shangri-La Plaza showcases three major exhibitions organized by respected galleries, a testament to its long commitment of supporting the arts by bringing it closer to more people. The first exhibit, Quartet IV: Art at the Frontline, was held from February 1 to 7 at the Grand Atrium, featuring works that served as a response to the ongoing Covid-19 pandemic. It brought together four painters, who also excel in their own chosen careers: top-notch opthalmologist Dr. Ping Puran, fashion designer-equestrian-businessman Boysie Villavicencio, foremost art critic Cid Reyes, and seasoned lawyer and former Philippine Charity Sweepstakes Office General Manager Atty. Joy Rojas. A portion of the sales from this exhibit will be donated to the AJ Kalinga Foundation. Another exhibit that mall guests should look forward to is the International Contemporary Art Fest, happening from February 18 to 24 at the Midlevel Atrium. Organized by Galerie

Stephanie, which is known for bridging international and local art through artist residencies and art fair participations, this annual artfest celebrates the diversification and growth of international artists in the Philippines, featuring works from Asia, the Middle East, United States, Canada and Europe. For 2021, this highly anticipated group show at the Shang brings together 27 artists from 11 countries: Renz Baluyot, Edrick Daniel, Vincent de Pio, Alexander Calceta, Anton del Castillo, Aileen Lanuza, Shannah Orencio, Gabby Prado, Reybert Ramos and Juan Sajid from the Philippines; Roby Dwi Antono, Imam Santoso and Anton Subiyanto from Indonesia; Chayanin Kwangkaew from Thailand; Liew Mei Toong from Malaysia; Akira Miyamoto, Hideo Tanaka, Atsuko Yamagata and Keiko Yokoyama from Japan; Noor Bahjat from Syria; Dan Barry from the United States; Julie Liger Belair and Meghan Hilderbrand from Canada; Cristina Gamon from Spain; Nunzio Paci from Italy; and Ciane Xavie from Brazil.

Shang’s final contribution to National Art Month is The Art of Healing, Resilience, and Resistance, which will be presented by Art Circle Gallery from February 24 to 28 at the Grand Atrium. The exhibit is in celebration of Art Circle Gallery’s 30th anniversary and brings together accomplished Filipino contemporary artists whose works reflect on the pandemic. This exhibition features pieces that showcase landscapes of healing, and portraits and figures as acts of resistance. It is divided into two parts, the first focusing on The Art of Healing while the second is about The Art of Resilience and Resistance. It also tackles isolation, mental health, personal struggles and hope amid a crisis. Part of the proceeds from this exhibition will be donated to the family of the artists who passed away during the pandemic. More information can be found at www.facebook.com/ shangrilaplazaofficial.

CANCER (June 21-July 22): Put your creative imagination to the test at work, and you’ll come up with a great idea that leads to a transformation. Education and preparation will help you take on a trendy challenge that leads to profits. HH

LEO (July 23-Aug. 22): Do what’s best for you. Help yourself instead of putting your time and effort into something that benefits someone else. Pledge to do your own thing and to work alongside people who have as much to offer as you. HHHHH

VIRGO (Aug. 23-Sept. 22): Open your mind to change. Look for ways you can use your skills and knowledge to open a conversation that can lead to an exciting position. Don’t sell yourself short. Have your resume fine-tuned and ready to go. HHH

LIBRA (Sept. 23-Oct. 22): Be creative without overspending. Where there is a will, there is a way to overcome any obstacle that challenges you. Laziness and relying on others will be your downfalls. Pick up the slack by doing the work yourself. Romance is featured. HHH

SCORPIO (Oct. 23-Nov. 21): Use your charm, and you’ll avoid getting into an argument. Listen attentively, and go about your business. The less fuss you make, the easier it will be to get things done your way. Take better care of your health and well-being. HHH

SAGITTARIUS (Nov. 22-Dec. 21): You’ll spin heads with your outgoing, spirited nature. What you have to bring to the table will make others take notice. A romantic encounter will encourage you to spend more time nurturing a meaningful relationship. Self-improvement is encouraged. HHHHH

CAPRICORN (Dec. 22-Jan. 19): Making a change will tempt you. Take precautions before you spend money. Refuse to buy into someone’s plans. Don’t settle for anything less than what you want. Hold out for a better deal, investment or suggestion. HH

AQUARIUS (Jan. 20-Feb. 18): Spend more time taking care of personal matters. How you handle domestic responsibilities will make a difference in the way others treat you. Be willing to compromise when faced with a dilemma. HHHH

PISCES (Feb. 19-March 20): Keep your secrets to yourself. An emotional incident can affect your reputation and your chance to advance. Look inward, then make adjustments that will enhance your ability to reach your goal. Change the way you handle money, and prosperity will follow. HHH Birthday Baby: You are compassionate, helpful and curious. You are changeable and assertive.

‘say again?’ by samuel a. donaldson The Universal Crossword/Edited by David Steinberg

ACROSS 1 Comfy shoes, informally 5 Site code 9 Prefix meaning “milk” 14 Jacob’s twin 15 Where Davenport is 16 Detest 17 Slaps a honeycomb, perhaps? 19 Shifts course suddenly 20 Jousting weapons 21 Queen of the Greek gods 23 Biz bigwig 24 Ireland’s best-selling solo artist 26 Creator of a toy cube 28 Runway departures 32 Stand-up person 35 Peeled covering 36 Outrage 37 Russian villa 38 Much ___ About Nothing 39 Potheads 42 In high demand 43 Wooden duck 45 Big name in acne care 46 “Try one!” 47 NYC’s only mayor in the 1980s

9 Animals that may invade henhouses 4 51 Shoulder wrap 53 Not keep or donate, say 54 Mork & Mindy planet (hidden in “doorknob”) 56 “Stay out of this,” for short 58 Speed trap devices 62 Sound heard twice in “solo” 64 Ruins the dinosaur in Toy Story? 66 Love, in Paris 67 In ___ of 68 Treats, as a sprain 69 ‘90s-style rush order 70 Site for reviewing doggy daycares, aptly 71 Warning letters before a link DOWN 1 Kitten cry 2 Workplace safety org. 3 Elf costar James 4 Go far in life 5 Major tantrum 6 Pull from behind 7 Air kiss sound 8 Not as rigid 9 Certain Hawaiian expanses

0 Prez on a five 1 11 Inspects a square cereal at a factory? 12 Came apart at the seams 13 “Ish” 18 Casino game with balls 22 Liquor in a daiquiri 25 Natural hairstyle 27 Message ___ bottle 28 Swap 29 Gave a hand 30 Bad-mouths a Kentucky fort? 31 Mister, in Madrid 33 To-do list task 34 Detests 39 Large maple 40 People you may unfollow on Instagram 41 Biennial golf event 44 “That looks pretty!” 46 Represses, as feelings 48 Major rte. 50 Harsh criticism 52 Menial 54 Evil count in Lemony Snicket books 55 Tomato that didn’t originate in Italy,

oddly 57 Captain Marvel star Larson 59 Circle segments 60 Great Barrier ___ 61 Annual festival in Austin, briefly 63 What gets stuck under a desk 65 Slender fish

Solution to Friday’s puzzle:

www.businessmirror.com.ph

Show BusinessMirror

Editor: Gerard S. Ramos

• Tuesday, February 16, 2021

OSCAR OIDA and Mav Gonzales of On Record

‘MAGKAAGAW’ AIRS ALL-NEW EPISODES; NEW GMA DOCU-MAGAZINE LAUNCHED

Jomari Angeles, Matt Lozano land their the big�est breaks

ESTINY has started to unfold for Matt Lozano and Jomari Angeles, who are both getting their biggest breaks as actors. Indie fixture Jomari Angeles is thrilled to finally fulfill his dream of being cast as a lead actor in the online series Limited Edition. Over the years, Angeles has worked with some of the most celebrated local filmmakers, like Chito Roño (Signal Rock), Dan Villegas (Hintayan ng Langit) and Brillante Mendoza (Ma’ Rosa), and he has kept all that he learned handy as he traverses from one acting assignment to another, whether it be on the big screen or television. He shared that he has played alongside some of the biggest names in entertainment, like Jericho Rosales, Angelica Panganiban and Jaclyn Jose, and he treasures these experiences. “Every new character is a chance for me to learn, an opportunity to absorb skills and techniques from how a director guides and motivates you, and how a coactor inspires you with his or her years of experience,“ he intoned.

Admitting that he quietly dreamt of bagging a lead role one day, Angeles said he couldn’t contain his excitement when he learned he had landed this most coveted project. “I go to every audition equipped with the most realistic expectations while hoping for the best. So when I was told that I got the lead role, I was just so happy and thankful.” The narrative of Limited Edition unravels from the point of view of Angeles’s character, a naive and conservative lad from the province who finds love in the most interesting circumstances. Promising director Jill Singson only took six days to complete the entire season of this series produced by the master shoemaker Jojoj Bragais, having ironed out every little detail their team needed during the pre-production phase of the project. To prepare his actors, Singson and his line producer Weng Concepcion commissioned respected actress and workshop expert Angeli Bayani to make sure that Angeles and his coactor Andrew Gan got into their respective characters with ease and spontaneity when shooting commenced. Bayani told us that both actors work very hard and she added that Angeles is a natural actor who is focused and determined to bring out his best in every scene. Angeles, who started out in the industry using his real name Jomari Umpa, reiterated to us that he treats big or small roles with the same dedication. “An actor is expected to get into his character, whether you are in all the frames or in just a few scenes. When the audience remembers you in particular scene and recalls your lines, you know you did a good job as an actor.” Meanwhile, Matt Lozano has just been announced

as the actor to give life to the character of Big Bert Armstrong in the GMA show Voltes V Legacy. We’ve known Lozano’s mom, Elaine, a singer turned production executive, for a long time now. Lozano the son started out wanting to be a singer because he got more than recessive genes from his mom who was the original Nescafe Girl many decades ago. (In the 1980s, The Nescafe Girl title was bestowed to the lady who was chosen to sing the jingle of the coffee brand in the commercials.) For many years, Lozano, who has changed his name from Mavi to Mav to Matt, tried his luck as a singer, performing wherever there was a stage that would welcome him. He was with a band, then went solo, and even joined a reality show for singers, but the big break remained very elusive. Throughout his journey, Lozano added unwanted poundage, which gave him a complex. When a friend convinced him to audition for the Voltes V Legacy series, Lozano went along and little did he know that the weight he gained allowed him to match perfectly the character’s requirements. The eyes of the decision-makers in GMA were on him long after he was done with the camera test. “Everything happens for a reason and unravels at the most perfect time. I am just thankful that this break came at a point in my life when things seemed so unclear. I will seize every moment because opportunities like this do not come very often,” he said. Jomari Angeles and Matt Lozano are both reminders that patience is indeed a virtue, and the universe gives the good breaks to those who want it so bad. ■

THE top-rating afternoon drama Magkaagaw on GMA begins airing its highly anticipated fresh episodes. The show tells the story of a legal wife who eventually becomes the person she hated the most—a mistress. In the story so far, Laura’s (Sunshine Dizon) life was put in danger when she confronted Veron (Sheryl Cruz) about the latter’s relationship with Jio (Jeric Gonzales). Oliver (Polo Ravales) arrived just in time to rescue Laura, she asked him to accompany her in pursuing Veron to stop her from hurting anyone. However, Laura was surprised when Oliver told her not to go after Veron. Little did Laura know, Veron ordered a henchman to kill Clarisse (Klea Pineda) in their house. Will Veron’s revenge plans succeed? Following a month-long recap, the cast members of the intriguing drama are thrilled for the audience to witness the continuation of the original drama. “I’m just excited as everyone who’s waiting for Magkaagaw. Kakaiba ’yung makikita ninyong confrontation scenes dito. Halos every taping sa set namin noong naka-lock-in kami, palaging may confrontation scenes,” said Sheryl. On taping under the new normal, Sunshine is thankful for everyone’s safety. She also expressed her admiration toward her costars’ professionalism: “I’m just glad that we got to finish everything on time and that we all came home safely. I’m sure we all did our best na magawa ng tama ’yung dapat naming gawin.” Meanwhile, Klea teased viewers on what to expect: “Iba’t ibang emosyon ang mararamdaman ninyo sa fresh episodes. Dapat ninyong abangan kung mababawi ba ni Clarisse si Jio mula kay Veron.” Completing the cast of Magkaagaw are Polo Ravales, Dion Ignacio, Dennis Padilla, Lovely Abella, Isay Alvarez, Patricia Tumulak, and Jhoana Marie Tan. Directed by Gil Tejada Jr. and airing from Monday to Saturday after Eat Bulaga, the original series is created by the GMA Drama group headed by the SVP for Entertainment Group Lilybeth G. Rasonable. Viewers abroad can watch the series via GMA’s flagship international channel, GMA Pinoy TV (www.gmapinoytv.com). Meanwhile, GMA Public Affairs lightens the pandemic atmosphere with On Record, which will cover life in all its moments—from the pleasant to the beautiful to the inspiring. It will feature videos and photos about heroism, random acts of kindness, the secret life of pets, among others—all caught on camera. Hosted by reporters Oscar Oida and Mav Gonzales, On Record offers a glimmer of hope as it features inspirational stories of ordinary Filipinos and their own version of “Serbisyong Totoo” caught on cam. It airs every Tuesday, 11:30 pm, beginning February 16. Viewers abroad can catch the show beginning February 27 on GMA News TV International. Known for his distinct approach to news reporting, Oscar is regularly seen on GMA’s flagship newscast 24 Oras as well as on Unang Balita and Brigada. Meanwhile, one of Mav’s notable news stories was the Taal Volcano eruption in January 2020, being the first reporter to break the story. She also received a Save the Children citation for her Brigada documentary about children walking long distances just to get potable water. For both Oscar and Mav, On Record serves as a break from the hard and serious news that they normally work on. “For someone who has been covering hard news for over two decades, it is a breath of fresh air to dabble on inspiring stories that would lift people up,” shares Oscar. For her part, Mav says, “People usually see me covering sports or hard news but in On Record, we will be featuring more good vibes—something we all need during this pandemic.”

‘Space Sweepers’ is 1st Korean-made space sci-fi film BY DINNA CHAN VASQUEZ SPACE Sweepers is touted as South Korea’s first space sci-fi movie, reportedly filmed at a cost of over $20 million. Set in 2092, the movie is directed by Jo Sunghee of A Werewolf Boy and Phantom Detective. Starring Song Joong-ki, Kim tae-ri, Jin Seonkyu and Yoo Hae-jin, the movie was scheduled for release in theatrers in the summer of 2020, but it was postponed due to the global pandemic. Now, Space Sweepers can be streamed exclusively on Netflix. In the movie, Spaceship Victory is one of the many ships that live off salvaging space debris. The crew includes genius space pilot Tae-ho (Song Joong-ki), a mysterious ex-space pirate Captain Jang (Kim Tae-ri), an engineer Tiger Park (Jin Seon-kyu), and a reprogrammed military robot Bubs (Yoo Hae-jin). After successfully snatching a crashed space shuttle in their last debris chase, the crew find a seven-year-old girl inside. They realize she’s the human-like robot wanted by UTS Space Guards, and decide to demand ransom in exchange. “I first heard about this story 10 years ago, about space sweepers, from a friend and this was an idea we began to developing since then. This is truly the result of 10 years of planning,” said Jo Sung-hee in Korean during an online press conference organized by Netflix. “When I worked with the director on A Werewolf Boy, I actually heard he was planning to create this kind of a space sci-fi movie, and I thought it would be interesting and amazing. He proposed this role and I immediately thought I would do it. Back then, the storyline was a little bit different from what it came to be. But when I first heard it from director Jo, I was shocked because it’s so new and fresh,” said Song Joong-ki, who was last seen on the big screen in 2017’s

Battleship Island. For Kim Tae-ri, the director of Space Sweepers was also the reason why she accepted the role. “The script was amazing and I was grateful to have been offered the role. On our first meeting, he told me about his vision and what he pictured the film would be. He had prepared so much, and I could see how much passion he had for the film. So I immediately trusted him,” she said. “I read the script and met with the director, and we talked about the parts of the movie that weren’t in the script and I felt his passion for it and how wellprepared he was,” said Jin Seon-kyu. When Yoo Hae-jin read the script, he had some

concerns in the beginning. “The script was very entertaining. However, as to what it’s going to be like onscreen, I admit that I was quite concerned. But when I was with director Jo, he drew us pictures literally on a white board and he showed me what Bubs would look like. He was very skilled in drawing, and when I saw his artistic sense, and read the amazing script, I felt like we could really make something good here.” Space Sweepers is the second project of Song Joong-ki with Jo Sung-hee, and the actor jested that he has not played a role under the director where he was handsome. “I’m always dirty, covered in oil or mud. I think I fell in love with these types of characters

because their personalities are very pure and they have the warmest hearts, so this is why I love playing parts chosen by director Jo.” Space Sweepers is Kim Tae-ri’s return to the big screen after over two years. The last movie she appeared in was the critically acclaimed indie Little Forest. “I personally think that I’m a clumsy person, but the captain is always very determined and perfect with everything,” said Kim Tae-ri when asked how similar she is to her role in Space Sweepers. Also in the movie is Richard Armitage, who played Thorin in The Hobbit franchise. “Thank you for inviting me to play Solomon, for bringing me to Korea, a place across the other side of the world from my home and introducing me to a new country and all of the sights and the culture, but more importantly for including me in a film which I think the Korean film industry is going to be extremely proud of,” said Armitage in a video aired during the press conference. For Song Joong-ki, one of the most challenging scenes he filmed was the very first scene which showed him flying through space. “It had to do with loss of gravity so that was quite something new and challenging. But again, amazing preparation went into this scene and it was really satisfying,” said the actor. For Yoo Hae-jin, the challenge to playing Bubs, a robot, was the motion-capture acting. “At first, I thought, ‘I’ll get to the set and I’ll be able to do what I always do,’ but it was quite challenging. I had all types of sensors attached to my body and I had to wear these tights, and then we had to set the zero points for each scene. But all in all, it was a new experience and it was fun,” he said. For Jin Seon-kyu, acting in Space Sweepers was like being an athlete and playing with the flag of South Korea on his chest.

NOW streaming on Netflix, Space Sweepers is South Korea’s first space sci-fi movie. NETFLIX

B6 Tuesday, February 16, 2021

Toast to a true millennial milk tea lifestyle

SBFI's ‘Perfect Harmony’ online concert benefits agency scholars

MIDST the pandemic, Security Bank employees nationwide gathered virtually for an online concert for a cause organized by Security Bank’s corporate social responsibility arm, Security Bank Foundation, Inc. (SBFI). Entitled “Perfect Harmony”, the online concert held on December 18, 2020, aimed to raise funds for SBFI’s scholarship program called Regalo Mo, Kinabukasan Ko (RMKK). The said initiative aims to provide educational assistance to the Bank’s agency personnel such as the security guards, messengers, janitors, and other support staff. The scholarship program also extends to their children. “Our success as a business is directly related to the growth and well-being of the people around us. With our current circumstances, we believe that helping

each other get better is the only way forward,” said Sanjiv Vohra, President and Chief Executive Officer of Security Bank Corporation. The Bank’s employees, Foundation scholars and external guests showcased various song numbers and dance performances to start off the festivities. The concert’s theme was inspired by Security Bank’s modernized yin and yang logo. “"During this pandemic, people are looking for sources of light and hope. We volunteered to perform hoping to spread holiday cheer while helping also our agency personnel. It is the least we can do in this trying time,” said Gabriel Montes, Security Bank Senior Information Technology Manager and member of the Bank Chorale. Apart from the concert ticket proceeds, Security Bank also raised a significant

amount for the scholarship program by reallocating budgets from previously planned physical employee engagement events and through the donations of Security Bank employees. “I watched the concert because of its cause. I remember our janitor in the office who is an existing beneficiary of the RMKK scholarship. When I had a chat with him, he is indeed very grateful for this opportunity. It is very heartwarming to know that even with our little contribution through the concert, we can help them have a brighter future through education,” added Jennifer Lam, Security Bank Officer at Ortigas Banking Center. “Despite the difficult situation that we are facing during this pandemic, Security Bankers continue to be committed with our work and even go beyond supporting worthy causes such as RMKK to help each other get better. This shall make us prouder to be a Security Banker,” said Joselito Mape, Trustee of Security Bank Foundation. To date, Security Bank Foundation’s CSR initiatives for education also include the construction of school buildings and provision of teachers training through the Build a School, Build a Nation program, an external scholarship program called Scholars for Better Communities, and the production of Ready, Set, Read! educational videos in partnership with Ateneo de Manila University and Knowledge Channel. To know more about Security Bank and Security Bank Foundation, visit www.securitybank.com/sustainability and www.facebook.com/SecurityBank

Sen. Villar, DENR, DPWH, Rep. Villar inaugurate last stage of the Zapote River Drive to ease heavy traffic and avert flooding

RAFFIC gridlock and flooding will be further prevented in Las Pinas City after Sen. Cynthia Villar Environment Sec. Roy Cimatu, DPWH Secretary Mark Villar and Las Piñas Representative Camille Villar led the inauguration of the completed stage 5 of the Zapote River Drive in the city. With the completion of the new road project along Zapote river, Villar expects a significant reduction in the volume of vehicles plying AlabangZapote Road, a major thoroughfare in Las Piñas. Metro Manila Development Authority has named Alabang-Zapote Road, a four-lane national road, as among the major bottleneck areas in the southern part of Metro Manila. “The new road project will also lessen travel time by 70% from Cavitex to MCX, “according to the senator. Villar said she is fully aware of the terrible traffic affecting Las Pinas residents and all motorists and commuters passing through the Alabang-Zapote Road. “I understand their anger and frustrations so I am always finding ways to minimize their burden brought about by the heavy traffic,” noted Villar. Aside from faster traffic flow, the senator braced for easier business movements to and from Las Pinas and the adjacent areas. “I initiated this road project to make travelling easier and less burdensome for our people,” said Villar, adding that this will also help lessen flooding in the city which resulted from the massive clean-up of Las Pinas and Zapote River. Due to the clean-up component of the road project, we have rid the river of tons of garbage and make it free flowing again. “We can help stop flooding in the city,” she further stated. Villar said the completion of the road project involves a 3.2 kilometers road crossing Springvale Heights,

FROTEA Bestsellers Oreo Cheesecake, Ube Cheesecake, and Wintermelon Milk Tea

ITH stores across Luzon and Visayas, and nearly a decade of providing consumers in Palawan and beyond with quality drinks at affordable prices, Frotea has established itself as one of the fastest-rising milk tea franchises in the Philippines. Frotea first opened its doors in September 2012 in Puerto Princesa, Palawan. The brand was the brainchild of Frotea owner, Engr. Ana Lustre Malijan who recognized the demand for quality milk tea and FroYo (frozen yoghurt) among consumers of all demographics on the island. Through this, Frotea became a cozy destination where people from all walks of life could enjoy a refreshing drink; from budget-conscious students, generous young professionals, and adults in need of a well-deserved break. Frotea’s renewed focus as a premier destination for authentic Taiwanese milk

tea is reflected in the revamped look found in each store. Designed to inspire comfort and vibrance, each Frotea store reflects a true millennial milk tea lifestyle—which is also evident in the brand’s mascots, Poppo and Bobba. Today Frotea is among the leading shops in the Philippines that specializes in authentic Taiwanese milk tea at insanely affordable prices. As a leading milk tea shop in the Philippines, Frotea offers a number of beloved customer favorites and bestsellers, including: Oreo Cheesecake, a standout among the Cheesecake Series of milk teas, this flavor harnesses a childhood favorite for a thick and tantalizingly decadent treat; Ube Cheesecake, a unique twist on a customer favorite that showcases a beloved Filipino ingredient; and Wintermelon, a cherished favorite among milk tea fans all over the world, Frotea’s signature wintermelon milk tea is made with ingredients sourced directly from Taiwan. This year, Frotea invites students and adults from all walks of life in every corner of the Philippines to cozy up and indulge with an irresistible cup of authentic Taiwanese milk tea. Prices start at just P55.00. Visit Frotea online (https:///www. frotea.ph) to learn more and be sure to follow Frotea on social media (FB: froteaphilippines / IG: froteaphilippines) for regular updates and promotions.

LOVE AND LUCK AT SM CITY NORTH EDSA. Love and luck combine in The Block's XOXO centerpiece, a play on the Year of the Ox and the modern term of endearment, XOXO which means hugs and kisses. This is surrounded by Chinese horoscopes and koi fish, who are said to have a powerful and energetic life force, with its ability to swim against currents and travel upstream.

Megaworld Lifestyle Malls reinforced more safety measures with alfresco spaces for happier dining

USTOMERS can enjoy more outdoor dining choices that are reinforced with safety measures. Megaworld Lifestyle Malls has reinforced more safety measures and allocated more space for outdoor dining as part of their creative solutions for restaurants to keep afloat as food businesses cope with the world’s shift to the new normal.

Uptown Mall’s The Deck, Uptown Parade PREVENTING HEAVY TRAFFIC AND FLOODINGS. Sen. Cynthia A. Villar led the inauguration of the final stage of the Las Pinas River Drive in Las Pinas City. The Senator was joined by DENR Sec. Roy Cimatu, DPWH Sec. Mark Villar, Las Pinas Rep. Camille Villar, DENR Usec Jonas Leones and DENR Regional Executive Director (NCR) Jacquline Caangcan.The senator assured they are always finding ways to address heavy traffic and floodings to ease the burden of the Filipino people especially during this time of pandemic. Versailles, Enclave, Portofino to Evia at Daang Hari Road connecting to MCX. She said the new road will also complete the 25 kilometers project from Cavitex to MCX connecting Cavite, Las Pinas and Muntinlupa to the Southern Luzon Expressway (SLEX) The Zapote River Drive starts from C5 Road to Brgy. Longos, Zapote, passing Zapote Underpass, Barangay Pamplona Dos, BF Resort Village, Moonwalk, Soldier Hills, Ayala Southvale, Springville Heights, Versailles. Enclave,Portofino and ends in Evia. The completed Zapote River Drive is a part of the total 32 kilometers river drive road improvement initiated by Senator Villar that started in 2012. The other projects are the Las Pinas and Molino River drive which are set to be completed this year. “The Zapote and Las Pinas Riverdrive as well as the Molino Riverdrive do not only ease up the traffic woes and

flooding, it will also closely maintain the cleanliness of the river, which is considered the artery of the city and nearby areas, since the people along the river cannot throw their wastes anymore because the road is already fence,” the Senator cited. Villar has spent decades in ensuring the cleanliness, maintenance and rehabilitation of Las Pinas-Zapote river, which was previously clogged because of garbage that hindered the flow of water, caused water pollution and massive flooding. She created various livelihood projects out of water hyacinths, waste coconut husks, plastic wastes, kitchen and garden wastes which came from the river, as raw materials. Her “SagipIlog” project was recognized as United Nations’ “Best Practices Award” in 2011. An initiative program which was recognized for protecting water resources and providing livelihood to Filipinos.

MEGAWORLD Lifestyle Malls’ flagship lifestyle establishment, Uptown Bonifacio, has delegated more area for alfresco dining. Guests doing their shopping at Uptown Mall can easily make their way to The Deck, which is conveniently situated at the fourth level of the mall. Across it, Uptown Parade boasts of an abundance of restaurants, with rows of various flavors and cuisine. Customers can sit back and enjoy the relaxed ambiance while filling their stomachs with good food. Plus, the open space is perfect for well-distanced gatherings.

Twin Lakes

WITH a picturesque view of the Taal Lake and a cool climate to match, Twin Lakes Tagaytay is your perfect go-to for a quick and safe dining getaway. From desserts, to breakfast, to seafood dining — it’s just more fun to devour them outside.

Forbes Town

A posh dinner out is still possible to do in Forbes Town, all while following social distancing guidelines. Positioned at the heart of high-rise residences, the food selections at Forbes Town offer satisfaction for different types of cravings that are best enjoyed in the open-air.

Eastwood City

CITY of great eats, Eastwood City, has also dedicated more space outside so that their

restaurants can accommodate more diners. So, if you miss the chill vibe of Eastwood City, pay it a visit and you’ll see how much they have evolved to become more conducive to dining out in the new normal.

Venice Grand Canal

TRAVEL restrictions are still in effect, but you can go on a (safe) global food trip at the Venice Grand Canal Mall in McKinley Hill. Eat outdoors in any of their restaurants and experience elevated dining matched with charming views. Alfresco dining has been encouraged to better implement physical distancing and for better air quality. All of Megaworld Lifestyle Malls’ lifestyle centers require wearing of face masks, temperature checks, footwear disinfection, and completion of health checklists. For more information, visit megaworldlifestylemalls.com or call 8-462-8888.

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

TheWorld

Support grows for Capitol riot inquiry after Trump acquittal

A S H I N G TO N —A d ay a f te r f o rm e r Pre s i d e nt D o n a l d Tru m p wo n h i s second Senate impeachment trial, bipartisan support appeared to be growing for an independent September 11-style commission into the deadly insurrection that took place at the US Capitol. Investigations into the riot were already planned, with Senate hearings scheduled later this month in the Senate Rules Committee. House Speaker Nancy Pelosi, D-Calif., has asked retired Army Lt. Gen. Russel Honoré to lead an immediate review of the Capitol’s security process. Lawmakers from both parties, speaking on Sunday’s news shows, signaled that even more inquiries were likely. The Senate verdict Saturday, with its 57-43 majority falling 10 votes short of the two-thirds needed to convict Trump, hardly put to rest the debate about the former president’s culpability for the Jan. 6 assault. “There should be a complete investigation about what happened,” said Louisiana Sen. Bill Cassidy, one of seven Republicans who voted to convict Trump. “What was known, who knew it and when they knew, all that, because that builds the basis so this never happens again.” Cassidy said he was “attempting to hold President Trump accountable,” and added that as Americans hear all the facts, “more folks will move to where I was.” He was censured by his state’s party after the vote. An independent commission along the lines of the one that investigated the September 11 attacks would probably require legislation to create. That would elevate the investigation a step higher, offering a definitive government-backed accounting of events. Pelosi has expressed support for such a commission while stressing that the members who sit on it would be key. Still, such a panel would pose risks of sharpening partisan divisions or overshadowing President Joe Biden’s legislative agenda. “There’s still more evidence that the American people need and deserve to hear and a 9/11 commission is a way to make sure that we secure the Capitol going forward,” said Sen. Chris Coons, D-Del., a Biden ally. “And that we lay bare the record of just how responsible and how abjectly violating of his constitutional oath President Trump really was.” House prosecutors who argued for Trump’s conviction of inciting the riot said Sunday they had proved their case. They also railed against the Senate’s Republican leader, Mitch McConnell, and others who they said were “trying to have it both ways” in finding the former president not guilty but criticizing him at the same time. A close Trump ally, Sen. Lindsey Graham, R-S.C., voted for acquittal but acknowledged that Trump had some culpability for the siege at the Capitol that killed five people, including a police officer, and disrupted lawmakers’ certification of Biden’s White House victory. Graham said he looked forward to campaigning with Trump in the 2022 election, when Republicans hope to regain the congressional majority. “His behavior after the election was over the top,” Graham said. “We need a 9/11 commission to find out what happened and make sure it never happens again.” The Senate acquitted Trump of a charge of “incitement of insurrection” after House prosecutors laid out a case that he was an “inciter in chief ” who unleashed a mob by stoking a monthslong

campaign of spreading debunked conspiracy theories and false violent rhetoric that the 2020 election was stolen from him. Trump’s lawyers countered that Trump’s words were not intended to incite the violence and that impeachment was nothing but a “witch hunt” designed to prevent him from serving in office again. The conviction tally was the most bipartisan in American history but left Trump to declare victory and signal a political revival while a bitterly divided GOP bickered over its direction and his place in the party. The Republicans who joined Cassidy in voting to convict were Sens. Richard Burr of North Carolina, Susan Collins of Maine, Lisa Murkowski of Alaska, Mitt Romney of Utah, Ben Sasse of Nebraska and Pat Toomey of Pennsylvania. “It’s frustrating, but the founders knew what they were doing and so we live with the system that we have,” Democratic Del. Stacey Plaskett, a House prosecutor who represents the Virgin Islands, said of the verdict, describing it as “heartbreaking.” She added: “But, listen, we didn’t need more witnesses. We needed more senators with spines.” McConnell told Republican senators shortly before the vote that he would vote to acquit Trump. In a blistering speech after the vote, the Kentucky Republican said the president was “practically and morally responsible for provoking the events of that day” but that the Senate’s hands were tied to do anything about it because Trump was out of office. The Senate, in an earlier vote, had deemed the trial constitutional. “It was powerful to hear the 57 guilties and then it was puzzling to hear and see Mitch McConnell stand and say ‘not guilty’ and then, minutes later, stand again and say he was guilty of everything,” said Rep. Madeleine Dean, D-Pa. “History will remember that statement of speaking out of two sides of his mouth,” she said. Dean also backed the idea of an impartial investigative commission “not guided by politics but filled with people who would stand up to the courage of their conviction.” The lead House impeachment manager, Rep. Jamie Raskin, D-Md., called the trial a “dramatic success in historical terms” by winning unprecedented support from GOP senators. He said the verdict didn’t match the reality of the strength of evidence. “We successfully prosecuted him and convicted him in the court of public opinion and the court of history,” he said. Pointing to McConnell and other Republican senators critical of Trump but voting to acquit, Raskin said, “They’re trying to have it both ways.” Raskin and Plaskett defended the House team’s last-minute reversal not to call a witness, Rep. Jaime Herrera Beutler, R-Wash. They acknowledged they were aware they might lose some GOP votes for conviction if they extended the trial much longer. Beutler’s statement late Friday that Trump rebuffed a plea from House Republican leader Kevin McCarthy to call off the rioters was ultimately entered into the trial record. “I think what we did was, we got what we wanted, which was her statement, which was what she said, and had it put into the record,” Plaskett said. Cassidy and Dean spoke on ABC’s “This Week,” Graham appeared on “Fox News Sunday,” Raskin was on NBC’s “Meet the Press,” and Plaskett appeared on CNN’s “State of the Union.” AP

Japan formally approves its first Covid-19 vaccine

OKYO—Japan on Sunday formally approved its first Covid-19 vaccine and said it would start nationwide inoculations within days, but months behind the US and many other countries. Japan’s health ministry said it had approved the vaccine co-developed and supplied by Pfizer Inc. The announcement comes after a government panel on Friday confirmed that final results of clinical testing done in Japan showed that the vaccine had an efficacy similar to what overseas tests showed. Many countries began vaccinating their citizens late last year, and Pfizer’s vaccine has been used elsewhere since December. Under the current plan, about 20,000 frontline medical workers at hospitals in Japan will get their first shots beginning around Wednesday. About 3.7 million other medical workers will be next, followed by elderly people, who are expected to get their shots in April. By June, it’s expected that all others will be eligible. Health ministry official Yuta Yamashita said inoculations can start as soon as a ministry panel on vaccination logistics gives the go-ahead. The approval was granted in a special fasttrack process for emergency use. It took two months compared to the usual one year in a country known for cautious and slow-moving approval processes.

Still, the rollout in Japan is months behind many other countries because the government had asked for clinical testing at home in addition to the multinational tests Pfizer conducted on more than 40,000 people from July to November. Many countries accepted Pfizer’s results and moved ahead. In a country where many people are skeptical about vaccines, Japan sought additional tests to address safety concerns. But the tests were conducted on only 160 people, and some question whether it was worth it to delay the rollout. Vaccines are considered key to holding the delayed Tokyo Olympics this summer. Japan is expected to receive 144 million doses from Pfizer, 120 million from AstraZeneca and about 50 million from Moderna before the end of this year, enough to cover its population. Vaccines being developed by Japan are still in the early stages, so the country must rely on imports. AstraZeneca applied for approval in Japan only recently, while Moderna hasn’t applied yet. Japan’s reliance on the imports, many of them subject to EU export controls, is also causing concerns about supplies. Shigeru Omi, the head of the government coronavirus task force, earlier this month cited a lack of global competitiveness of Japanese pharmaceuticals as a reason for the delayed rollout. AP

BusinessMirror

Tuesday, February 16, 2021

Myanmar junta strengthens grip on power, cuts Internet services

yanmar’s junta strengthened its grip on power over the weekend, ordering an Internet blackout overnight and making it easier for authorities to make arrests as it looks to quell surging protests against its February 1 coup.

Protests continued on Monday after tens of thousands of people continued to demonstrate in defiance of the military even as the regime stepped up detentions of civil servants, lawyers and other professionals. Telecom services were told to cut all Internet between 1 a.m. and 9 a.m. on Monday, and armored vehicles were seen rolling through the streets of central Yangon on Sunday night. In a joint statement on Sunday, ambassadors from the US, UK, Canada and the European Union called on the military to avoid violence while condemning the arrests of dissidents as well as the disruption in communications. Real-time network data showed national connectivity fell to just 14 percent of ordinary levels following the blackout order, according to London-based Internet monitor NetBlocks. Internet services have since been restored allowing live footage of fresh protests to emerge on social media. “We support the people of Myanmar in their quest for democracy, freedom, peace, and prosperity,” the ambassadors wrote. “The world is watching.” Myanmar army chief Min Aung Hlaing has struggled to gain control of the streets since ousting the civilian government led by Aung

San Suu Kyi, whose party won a landslide victory in November elections. She has urged the country’s 55 million people to oppose the army’s move, calling it “an attempt to bring the nation back under the military dictatorship.” Suu Kyi and other political leaders are among 400 people detained since the coup, a number that keeps rising by the day. While authorities have largely avoided confronting protesters in major cities like Yangon who have ignored a ban on public gatherings, several demonstrators have been injured in crackdowns—including a woman shot in the head who is now on life support in Naypyidaw, the capital. Suu Kyi will remain in detention ahead of a Wednesday court hearing, Reuters reported citing her lawyer. A spokesperson for UN Secretar y General Antonio Guterres wrote in a statement on Sunday that he was “ deeply concerned ” about the situation, “ including the increasing use of force and t he re por ted de ploy ment of additional armored vehicles to major cities.” Min Aung Hlaing over the weekend amended a privacy law to suspend provisions that pre-

In this image made from video by the Democratic Voice of Burma (DVB), two armored personnel carriers were seen traversing on a road in Yangon, Myanmar on February 14. Sightings of armored personnel carriers in Myanmar’s biggest city and an Internet shutdown raised political tensions late Sunday, after vast numbers of people around the country flouted orders against demonstrations to protest the military’s seizure of power. DVB via AP

vented authorities from taking actions like conducting searches without a warrant, detaining suspects for more than 24 hours without court approval or intercepting electronic communications. The amendments will remain in effect only during the reign of the State Administration Council, the body formed to govern Myanmar during a yearlong state of emergency. The military also warned the media against referring to their power seizure as a “coup,” saying the state of emergency was declared in line with provisions of the 2008 constitution drafted under a previous junta. Last week, the junta proposed a cyber security law that could see social media users fined or jailed for posts containing what it construes as “misinformation or disinformation that causes public panic.” The junta late Saturday issued arrest warrants for seven activists including 1988 uprising leader Min Ko Naing and

members of Suu Kyi ’s National League for Democracy party. Activists said the amendments on Saturday are a sign of tougher crackdowns to come. “Anyone can be arrested anytime,” said Maung Saung Kha, executive director of Athan, a Yangon-based freedom of expression advocacy group. “No one feels safe at this point.” The Biden administration was quick to denounce the coup and implement sanctions against its leaders. Global companies including Japanese beer maker Kirin Holdings Co. have dialed back investment plans in the country since the military takeover. “The Tatmadaw’s strategy not only threatens to further inflame social unrest and elevate stability risks, but a crackdown on civil servants could also undermine policy delivery,” said Peter Mumford, Southeast & South Asia practice head at risk consultancy Eurasia Group. Bloomberg News

UK hits target: Gives at least one vaccine shot to 15 million

ONDON—The UK announced on Sunday that it had reached its goal of giving at least one Covid-19 vaccine shot to the most vulnerable people in the country, increasing pressure on ministers to clarify when they will ease a lockdown imposed in early January. More than 15 million people, or 22 percent of the UK population, have received their first shot. The figure includes most people in the government’s top four priority groups, including everyone over 75, frontline healthcare workers and nursing home staff and residents. Over 537,000 of them have also received their second dose. “15,000,000! Amazing team,’’ Nadhim Zahawi, the vaccines minister, said in a tweet that featured a red heart and three syringes. “We will not rest till we offer the vaccine to the whole of phase1 the 1-9 categories of the most vulnerable & all over 50s by end April and then all adults.’’ British Prime Minister Boris Johnson plans to unveil his roadmap for easing restrictions on Feb. 22 amid signs that infection rates, hospitalizations and deaths have fallen sharply since England’s third national lockdown began on January 4. “This country has achieved an extraordinary feat — administering a total of 15 million jabs into the arms of some of the most vulnerable people in the country,’’ Johnson said in a tweet. Johnson said in England, everyone in the four top priority groups had been offered the vaccine. He plans to release further details on the vaccination effort on Monday. Jockeying has already begun between those who want the measures lifted as soon as possible and those who fear moving too fast will lead to a resurgence of the virus. Britain got a head start on its vaccination effort in December, when it became the first country to authorize widespread use of a Covid-19 shot. It ranks behind only Israel, 73 percent, the Seychelles, 53 percent, and the United Arab Emirates, 51 percent in the percentage of people who have received one dose, according to Oxford University. The US is fifth at 15 percent.

Rabbi Bieberfeld receives a dose of coronavirus vaccine at the John Scott Vaccination Centre in London on February 13. The dose was administered at an event to encourage vaccine uptake in Britain’s Haredi community, which has been hard hit during the Covid-19 pandemic. AP/Frank Augstein

At the same time, coronavirus lockdown rules that have closed schools, restaurants and nonessential shops in the UK are starting to pay off. The number of new infections, hospital admissions and deaths recorded over the past seven days have all dropped by more than 20 percent from the previous week. When Johnson announced the lockdown, he said the government would review the measures in mid-February based on their success in controlling the pandemic and progress in the vaccination effort. Johnson’s first priority is to reopen schools, and he has promised to give schools two weeks notice to give teachers time to prepare. Britain has reported over 117,000 virus-related deaths, the highest pandemic toll in Europe. Mark Harper, a lawmaker from the ruling Conservative Party, has warned the government against “moving the goalposts” for deciding when to ease the lockdown. Johnson should start by reopening schools, then gradually lift other restrictions as more people are vaccinated, said Harper, who leads a

group of about 70 lawmakers who have lobbied the government to consider the negative economic and social impacts of the restrictions along with the health benefits. “Once you have protected people from serious illness and from death, I don’t think these draconian restrictions of not being able to meet your family, not see your friends, not see your children, not see your parents, not visit people in care homes, I don’t think they are justifiable anymore,’’ Harper told Times Radio. After meeting the target for reaching the most vulnerable, UK authorities will progressively expand the vaccination drive to the next five priority groups until everyone over 50 and vulnerable younger people with health conditions that put them at higher risk from the virus have been offered the vaccine. Public health officials say the top nine priority groups account for 99 percent of the deaths caused by Covid-19 so far. While the vaccines currently authorized for use in the UK require two doses to ensure full protection against Covid-19, British authorities say one dose

provides a significant level of protection. Because of this, they have made it their priority to give the first dose to as many people as possible as quickly as possible. To do this, Britain is planning to give second doses after three months, instead of one month as recommended by the manufacturers. Jeremy Farrar, director of the Wellcome Trust health think tank, said the number of Covid-19 infections in Britain is still too high to think about lifting the restrictions. “We’ve made enormous progress...but the transmission is incredibly high still and we’ve got to get it lower,” he said. There are other dangers on the horizon. UK government scientific advisers say the Covid-19 variant now predominant in the country may be up to 70 percent more deadly than previous variants, underscoring concerns about how mutations may change the characteristics of the disease. The findings from the New and Emerging Respiratory Virus Threats Advisory Group, published Friday on the government’s website, builds on preliminary research released January 21. The group, known as NERVTAG, includes experts from universities and public agencies across the UK. The new report is based on analysis of a dozen studies that found the so-called Kent variant, named after the county where it was first identified, is likely 30 percent to 70 percent more deadly than other variants. The studies compared hospitalization and death rates among people infected with the variant and those infected with other variants. The results of the analysis are worrisome, said Dr. David Strain, a clinical senior lecturer at the University of Exeter Medical School and the clinical lead for Covid at the Royal Devon & Exeter Hospital. “The higher transmissibility means that people who were previously at low risk of catching Covid (particularly younger fitter females) are now catching it and ending up in hospital,’’ Strain said. “This is highlighted by the latest figures for hospitalization that now suggest almost 50:50 male to female ratio compared to this being predominantly in men during the first wave.’’ AP

Sports

RELENTLESS PLANNING

BusinessMirror

| Tuesday, February 16, 2021 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

Patafa head Juico in forum

HILIPPINE Athletics Track and Field Association (Patafa) President Philip Ella Juico will give an update on Filipino athletes’ bid for the Tokyo Olympics in Tuesday’s online session of the Philippine Sportswriters Association (PSA) Forum. Juico will talk about the preparations being done by Olympic-bound pole vaulter EJ Obiena and the other athletes who are bidding to qualify for the Summer Games scheduled from July 23 to August 8. Juico is also expected to discuss the plans of the Philippine Super Liga (PSL) to finally hold

competitions this year. The 10 a.m. public sports program is presented by San Miguel Corp., Go For Gold, Milo, Amelie Hotel Manila, Braska Restaurant and the Philippine Amusement and Gaming Corp. Powered by Smart and Upstream Media as the official webcast partner, the session is livestreamed via the PSA Facebook page fb.com/ PhilippineSportswritersAssociation and also shared by Radyo Pilipinas 2 Facebook page.

Summit on sports marketing

HE Philippine Sports Commission’s (PSC) National Sports Summit focuses on Sports Marketing in this Thursday’s online session that starts at 1 p.m. Prof. Theresa Jazmines from the University of the Philippines will talk about the core principles, strategies and benefits of sports brand marketing in the summit’s fourth session. Jazmines, one of the country’s first female sports

journalists in the 1970s, has an extensive experience in the field of public relations and sports writing. “It is pivotal for sports stakeholders in the country, from the community grassroots level, the national sports associations, and up to the elite professional level to learn the value of sports marketing to forward the development of their own sports,” PSC Chairman William Ramirez said. Ramirez stressed the need for the national

RAFAEL NADAL serves to Italy’s Fabio Fognini during their fourth round match on Monday. AP

sports associations and other groups to tap the private sector or market their sports to fund their activities because of limited financial support from the government. “Sponsors can connect directly with their target markets and create greater awareness for their brands in a rewarding fashion and the officials, teams and athletes get their desired resources and improve their performances,” Jazmines said. The National Sports Summit 2021 will cover 25 topics from local sports administration to international linkages in the field.

Ancajas ready vs. Mexican challenger By Josef Ramos

ORE than one year without a fight won’t be much of a problem for International Boxing Federation (IBF) super flyweight champion Jerwin Ancajas as he defends his belt against Mexican Jonathan Javier Rodriguez in April. Rodriguez, 25, on the other hand, last fought in December 4 when he

dealt fellow Mexican Julian Yedras a stinging knockout only two minutes and 27 seconds into the fight in Nuevo Leon, Mexico. But that doesn’t worry Ancajas, who continues to train in Los Angeles during the lockdown. “We just keep our training and sparring for Jerwin [Ancajas] since early last year and we’re not bothered even if he didn’t fight for a long time—that’s not a problem for us,” Ancajas’s trainer

and manager Joven Jimenez told BusinessMirror on Monday. “What we don’t like to happen is for him to overtrain,” Jimenez said. “We are just preparing seriously against Rodriguez, and we’re only waiting for the final date and venue.” Ancajas, Jimenez said, is now 85 percent fit and ready to peak anytime. Ancajas (32-1-2 win-loss-draw record with 22 knockouts) was locked down in various training camps since

ELBOURNE, Australia—It could have been canceled at any minute. It still could. Australian Open tournament director Craig Tiley was always working on the assumption there’d be a massive hit financially for staging the year’s first tennis major during the Covid-19 pandemic. Organizers have spent 80 million Australian dollars ($62 million) in cash reserves, built up over 10 years, and taken out a loan to get the season’s first major started. Regardless of the obstacles, Tiley always remained focused on a sweet spot, an angle that made it different. Tiley told The Associated Press that he was not only committed to holding the tournament at its usual time of year (it was pushed back three weeks due to scheduling issues), he wanted to do something no Grand Slam managed to do in the pandemic last year: have sizeable crowds. “That’s the angle we chose because we thought there’s an opportunity to...showcase the sport and have the players play in front of fans,” Tiley said, looking fatigued and wearing a mask while sitting in a conference room beside his office underneath Rod Laver Arena. The US Open had no crowds on site and the French Open was limited to 1,000 per day. For its first five days, the Australian Open averaged

just under 20,000 spectators per day. “Momentum was building really nicely for us,” Tiley said, “until—boom—we got the change.” The “change” was a five-day hard lockdown from Saturday imposed by the state of Victoria to try to quash an outbreak of Covid-19 cases linked to Melbourne’s hotel quarantine system. The tournament suddenly went from pre-pandemic near-normalcy to empty stands and silence. Tiley’s staff had a contingency plan ready in the event of a sudden lockdown, so it leapt swiftly into action. Despite assurances he’s had from authorities that the tournament will be able to finish—and fans may also return in a few days—nothing is guaranteed. “Tomorrow, the government could say we have 10 new cases...and we want you to shut the site down,” he said in a weekend interview. “We have a plan for that. But that’s not what we expect.” For Tiley, it’s been that kind of year. Planning a Grand Slam tournament in the middle of a pandemic was a logistical nightmare that involved flying 1,200 people—hundreds of players and their teams—to Australia from all over the world and arranging hotel quarantine for all of them in a country that had all but eliminated Covid-19. Yet, despite the enormous costs and challenges, canceling

February in Dipolog City, Philippine Naval Base in Cavite City and Survival Camp in Magallanes, Cavite, before flying to the US in October. Ancajas and Rodriguez were scheduled to fight in November last year in Los Angeles, but the Mexican had trouble with his visa. The fight was moved to April in Las Vegas, but was overran by the Covid-19 pandemic. JERWIN ANCAJAS is fighting after more than a year of inactivity.

the Australian Open this year was only briefly considered and then immediately taken off the table, Tiley said. “It felt like we were drinking from a firehose every single day, gasping for air,” he said. “It’s just relentless.” Paul McNamee, who was Australian Open tournament director before Tiley took over in 2006, described it as “six to eight months of torture.” McNamee said the biggest challenge he faced in the job was a flood on center court the night before a women’s singles final—a minor setback compared with dealing with a pandemic. “You could have imagined it would have been easier in Paris or New York. Over there, it’s acceptable if there’s some outbreak. It’s a manageable situation in terms of PR anyway,” he said. “Here, there’s one case, it’s catastrophic.” The strict isolation regulations in Australia inevitably led to a number of complaints from players, which Tiley said verged on “aggressive” at times. Among those most upset were the 72 players forced into hard lockdown for 14 days after passengers on their charter flights to Australia tested positive for Covid-19. Because they were unable to leave their hotel rooms for two weeks, some players said they felt physically unprepared to play a Grand Slam. Tennys Sandgren was one vocal critic. After his first-round loss to Alex de Minaur, he said, “I’ve never walked on to a court in a Grand Slam knowing that I’m probably not going to be able to win.” No. 1 Novak Djokovic sent Tiley a letter last month suggesting ways to ease quarantine restrictions on players, including allowing them to stay in houses with private tennis courts. Djokovic later said in a statement his intentions were “misconstrued as being selfish, difficult and ungrateful.” Tiley said he had more than 60 phone calls with the players over those two weeks in quarantine, spending four-and-a-half hours a day personally listening to their concerns. AP

Berger has final say, wins at Pebble Beach

EBBLE BEACH, California—For all the stunning views at Pebble Beach that can be so soothing, Daniel Berger couldn’t escape the tension when he arrived at the final hole Sunday in the AT&T Pebble Beach Pro-Am. He was tied for the lead, needing a birdie on the par-five 18th to win. Off to his right was outof-bounds markers below a row of hedges, where Berger hit his drive on Saturday that led to double bogey. To his left was the Pacific Ocean. “I was going to go down swinging,” he said. Two of the best swings of his career, a driver into the fairway and a 3-wood from 250 yards away in the cool air at sea level, left him 30 feet and two putts away. Berger capped it off with an eagle putt for a seven-under 65 and a two-shot victory over Maverick McNealy. “To step up there and hit a great drive and then one of the best 3-woods I’ve ever hit in my life, and then to make that putt is just as good as it gets for me,” Berger said. He finished at 18-under 270 for his fourth career victory. Berger started his final round with a 4-iron to 20 feet for eagle on the par-5 second hole to catch up to Jordan Spieth in no time at all. And while the cast of contenders kept changing, Berger was never out of the mix until he had the final say with one last eagle, his fourth of the week. He won for the second time since the

Professional Golfers’ Association (PGA) Tour returned to golf in June from the Covid-19 pandemic, starting with a playoff victory at Colonial, where a half-dozen players had a chance to win over the final hour. This wasn’t much different. Spieth went from leading to lagging behind. He started with a two-shot lead and was three shots behind after six holes, wasting the scoring stretch at Pebble Beach. He finished with two birdies for a 70 and tied for third with Patrick Cantlay (68), who made all his putts at Pebble on Thursday. He had 10 birdies in the opening round when he tied the course record with a 62. He made seven birdies and an eagle in two weekend rounds. Berger saw a leaderboard leaving the 18th green and knew he was tied. He just figured it would be with Nate Lashley, unaware of the sad turn of events on the 16th. Lashley, playing in the final group with Spieth, nearly holed his wedge on the 11th for a tap-in birdie that took him to 16 under and leading by one shot. He was tied with Berger with three holes to play when Lashley went long on the 16th hole. He pitched out to 12 feet, missed the par putt and then missed the next two putts from the 3-foot range. AP

Girls Got Game Vincent Juico @VJuico, Instagram vpjp_j, vince.juico@gmail.com

SPORTS WITHOUT BORDERS A STUDENT of my former classmate—fellow BusinessMirror columnist Rick Olivares who teaches online journalism, writing, photography, video, interviews and life— Krizanne Ty talked about how young women and former student athletes of Girls Got Game (GGG) brought their A-game to get something special started. “I co-founded GGG with Nikka Arcilla back in 2015. We were both former student athletes who were just passionate about sports and realized the lack of access for sports especially for underprivileged young girls,” Ty said. Ty continued: “The road was challenging from the ground up. It was like a startup— we had to build our team, while pitching to multiple potential partners, and solidify the program. But through it all, the ‘Whys’ were very clear—so it was just the ‘Hows’ that needed refining. We were able to pool together people who were in line with our vision of empowering women through sports.” Gely Tiu, GGG’s co-Managing Director told

me: “Girls Got Game was started by Krizanne Ty and Nikka Arcilla who got like-minded individuals together with the goal of ending the cycle of poverty and pre-teen pregnancy among young Filipinas aged 10-12 years old from low income families.” My younger sister is a third term councilor in Quezon City and she told me how crucial it is to teach and disseminate information on sex education to young Filipinas to fight the rising cases of pre-teen and early teen pregnancies in depressed areas. Gely told me about the initial challenges they faced: “In 2015 there were not a whole lot of women empowerment organizations around.” She added: “There were a lot experimentations and trials that went into building the model and program that would follow what was in our mission, vision and values as an organization. “We really had to dig into our reservoir of patience, hard-work, dedication

DANIEL BERGER finishes at 18-under 270 for his fourth career victory. AP

and commitment to the cause and the organization. We set meetings with potential partners, possible communities and beneficiaries of our advocacy.” According to Gely, because of the outbreak, their long-term plans became short term in a matter of months. They had to look beyond sports camps and other projects in the pipeline to stay on track in meeting their goals and objectives. Like other organizations, GGG moved quickly and looked for options and alternatives to circumvent the pandemic. One alternative was launching an E-learning series of sports modules on their social-media platforms. They also organized a donation drive wherein the proceeds were used to purchase feminine kits for female frontline health workers at the Research Institute for Tropical Medicine (RITM). “There is a natural ‘high’ that is experienced after every sports camp,” Gely said. “There’s a light that emanates from every young girl that attends their camps and the empowerment and inspiration is palpable among the volunteers.” As I watched the videos of testimonials and shares from the young girls and volunteers, I feel the gratitude and joy from the young lady beneficiaries of the program, and from the volunteers, their passion, dedication, sacrifice, commitment and responsibility to make sure the girls get the most out of the experience.