BusinessMirror February 19, 2021 by BusinessMirror

NCR mayors okay MGCQ amid anxiety By Claudeth Mocon-Ciriaco

Correspondent

FTER unanimously deciding against it earlier, the Metro Manila mayors have already agreed to place the National Capital Region (NCR) under modified general community quarantine (MGCQ ), with nine of 17 mayors voting to ease restrictions, as sought by economic managers worried by the slow pace of recovery. Although he did not reveal who voted for and against the shift to MGCQ at Wednesday night’s meeting of the Metro Manila Council, Chairman Benjamin “Benhur” Abalos Jr. of the Metropolitan Manila Development Authority (MMDA) said all mayors will honor the al-

abalos: “Mahirap sa Metro Manila kung magkanya-kanya ang mga mayor [It would be difficult if Metro Manila mayors go their own way].”

most split decision. “Mahirap sa Metro Manila kung magkanya-kanya ang mga mayor [It would be difficult if Metro Manila

mayors go their own way],” Abalos said in a media briefing on Thursday afternoon. When asked about the reasons cited by mayors who voted against it, Abalos cited one: funds. Some of the mayors who voted against relaxed quarantine status, he said, have expressed fear that cases may rise if MGCQ will be implemented “and that they cannot afford another lockdown.” He, however, stressed that the issue was discussed thoroughly, “and it was a fruitful discussion.” The MGCQ, he said, will be implemented on March 1. Abalos said the Metro Manila mayors support the reopening of the economy devastated by the Covid-19 pandemic’s lockdowns, but want the easing done “gradually.”

Likewise, Abalos said the mayors, who compose 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. He reiterated that the mayors cannot allow the government’s gains in controlling the spread of the virus to be put to waste. “We must balance the economy and health for everyone’s safety,” Abalos added.

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FRESH MONETARY MOVES PHL’S 1ST CATASTROPHE INSURANCE FACILITY ROLLED OUT SOON—DOF By Cai U. Ordinario

@caiordinario

HE Insurance Commission (IC) is rolling out the first private sector-led catastrophe insurance facility that will help Filipinos become more resilient in times of disasters, according to the Department of Finance (DOF). In a statement, DOF said the Philippine Catastrophe Insurance Facility (PCIF) is already being finalized by the IC, the National Reinsurance Corp. of the Philippines (Nat Re), and the Philippine Insurers and Reinsurers’ Association (Pira). The facility, IC Commissioner Dennis Funa said in a report to Finance Secretary Carlos G. Domin-

Construction work is seen full blast at the Metro Rail Transit 7 (MRT 7) project along Commonwealth Avenue in Quezon City on Thursday (February 18). The P63-billion MRT 7 is now 58.95 percent complete, the Department of Transportation (DOTr) announced. It will run for 22 kms from North Avenue to San Jose Del Monte, Bulacan, with 14 stations. It will cut travel time from end to end from 2 hours to 34 minutes, easing traffic in Quezon City once the project is finished. NONOY LACZA

By Bianca Cuaresma

@BcuaresmaBM

HE weakness in business and consumer confidence in the face of the pandemic is limiting the potency of monetary policy as a tool to lift the economy from recession, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said on Thursday. In a virtual press briefing, the Central Bank governor said monetary policy moves may “take a while” to materialize and, thus, called for

a “whole of government” approach to lift the economy out of contraction. “The Covid-19 pandemic showed

PESO exchange rates n US 48.3840

that the expected impact of policy rate adjustments and recent, and triple R cuts [reserve requirement ratio], may take a longer time to materialize due to bank risk aversion and weak private sector demand, largely because the length and intensity of the lockdown dampened the impact of the BSP measures and credit and private spending,” Diokno said. “Hence, any further monetary measures may continue to have a limited impact unless business and consumer confidence improves significantly. These limits to monetary policy underscore the need for a whole of government approach to address the impact of the pandemic,” he added.

In 2020, the BSP aggressively cut its interest rates to spur activity in the local economy. In total, it has already cut its rates by 200 basis points to push its overnight reverse repurchase rate at an alltime low of 2 percent. Just last week, however, the BSP decided to keep all monetary policy levers untouched, alongside their inflation forecast revision to 4 percent on average for 2021. “In this regard, fiscal policy, together with structural reforms, must continue to share in the heavy lifting to quicken the economic recovery by improving sentiment and demand,” Diokno said. Continued on A4

guez III, would allow non-life insurers to cede their catastrophe risks to the new insurance pool or facility. “We recognize the significant role that the non-life insurance industry should play in ensuring the Philippines’s catastrophe resilience and in bridging the catastrophe insurance gap that we need to urgently address as our country is among the most vulnerable to the onslaught of natural calamities,” Funa said. DOF said the PCIF will share the pooled risks back to the nonlife insurers and enable these companies to more efficiently manage their exposures and boost their capacity to take in more risks. Continued on A4

PHL’s ESG credit impact risks flagged by Moody’s

NTERNATIONAL credit watcher Moody’s Investor Service retained its “stable” outlook of the Philippines’s investment grade rating, despite assigning a “moderately negative” ESG credit impact score for the country. In a research assessment published on Thursday, Moody’s Investor Service released an update on its credit opinion on the Philippines following their assessment of the country’s ESG credit impact scores. ESG stands for environmental, social and governance. In December 2020, Moody’s announced

that it has updated its methodology for assessing environmental, social and governance risks of a sovereign. Under this framework, Moody’s, on Thursday, said the Philippines’s ESG Credit Impact Score is moderately negative (CIS-3), reflecting high exposure to environmental risks and social risks, contained by institutional and economic resilience. Broken down, both environmental and social risks profiles are rated “highly negative” while the governance risk is rated “neutral to low.” See “Credit impact,” A2

n japan 0.4571 n UK 67.0457 n HK 6.2411 n CHINA 7.4926 n singapore 36.4227 n australia 37.4928 n EU 58.2543 n SAUDI arabia 12.9010

Source: BSP (February 18, 2021)

News

BusinessMirror

A2 Friday, February 19, 2021

Policy gaps and ‘supply’ issues bug vaccine drive

By Jovee Marie N. dela Cruz @joveemarie & Samuel P. Medenilla @sam_medenilla

OLICY deficiencies and restrictions as well as “supply” issues are now threatening to delay the start of the government’s Covid inoculation drive this month.

President Duterte on Thursday made several issuances in attempts to address some of these issues. Presidential spokesman Harry Roque said the expected arrival of the 600,000 doses of Covid-19 from Sinovac, which are being donated by the Chinese government, might not be delivered on February 23, 2021. He said unless the Food and Drug Administration (FDA) is able to issue an Emergency Use Authorization (EUA) for Sinovac by February 18, 2021, the Chinese government will not be able to ship the vaccines as scheduled. As of 4:30 pm on Thursday, FDA had yet to approve the EUA for Sinovac’s Covid-19 vaccine. It had earlier explained that Sinovac still had not submitted certain paper requirements vital to a decision on an EUA.

Causes of delays

Chief implementer of the government’s national policy on Covid-19 Carlito G. Galvez, meanwhile, also said delivery of the 117,000 doses of Pfizer-BioNTech vaccine and 5 million doses of AstraZeneca-Oxford vaccine from the Vaccines Global Access (Covax) facility also face delays due to the pending indemnification agreement. He said they are still waiting for Pfizer’s

action on the indemnification agreement, which they submitted. The agreement will ensure the Philippine government will pay for the compensation of people who suffer adverse reactions tied to the administration of the Covid-19 vaccine. “For the information of everybody, during our initial negotiation, it was not required by Pfizer. It is only just now [that they asked for it], so we were surprised because before, the only one seeking an indemnity clause was Johnson and Johnson,” Galvez explained. In the case of Covid-19 vaccines from British drug maker AstraZeneca, Galvez said they already finalized the necessary indemnity agreement; however, they were unable to determine which country would supply the expected 5 million doses. The AstraZeneca-Oxford vaccine is currently being manufactured in Thailand, India and South Korea. Until recently, Galvez said they thought the supply of AstraZeneca-Oxford vaccine that will be sent to the Philippines will come from Thailand due to its proximity. However, the Philippine officials were informed just a few days ago that the supply to be shipped to Manila will come from South Korea. This “supply issue,” Galvez said, caused delay in vaccine delivery. Despite these setbacks, Galvez remained hopeful they can start the deployment of Covid-19 vaccines from Sinovac and Pfizer-BioNTech this month. The bulk of vaccine deployment, he said, is expected to start from the second quarter and third quarter of the year.

Indemnification law

Galvez explained most pharmaceutical companies are hesitant to send their vaccine to the country without an indemnification agreement since they fear lawsuits similar to what happened to French manufacturer Sanofi, whose Dengvaxia vaccine was used on 800,000 Filipino schoolchildren. To add ress t h is concern from vaccine makers, Duterte certified as urgent the passage of Senate Bill (SB) 2057 and its counterpart bill

in the House of Representatives, House Bill (HB) 8648, which created the indemnity fund for Covid-19 vaccines. “The indemnification clause is important for the allocation of the indemnity fund and also vaccine makers will have confidence [to start shipping their vaccine to the country],” Galvez said.

Congressional response

With the urgent certification from the Palace, Speaker Lord Allan Velasco said the House can now approve HB 8648 or the proposed Emergency Vaccine Procurement Act of 2021 both on second and third reading on Monday. In a statement, Velasco welcomed Duterte’s move allowing local government units (LGUs) to make advance payment —beyond the 15 percent allowed by law—for the purchase of Covid-19 vaccines under a memorandum the Chief Executive has signed. “We will do our best to finish it by Monday [February 22],” said the Speaker. “This is an important step in our fight to defeat the spread of Covid-19 as this allows the speedy procurement of the most effective vaccines by LGUs, cognizant that any delay would have serious consequences on how we move forward from this pandemic,” he added. House Bill 8648, introduced by Velasco, seeks to expedite the purchase and administration of vaccines to ensure that all Filipinos, particularly the elderly and those in the marginalized sectors, will be inoculated and protected from the deadly disease. The bill, which expedites the purchase and administration of vaccines, is pending for second reading in the plenary. It exempts LGUs from compliance with the requirements under RA 9184 or the Government Procurement Reform Act and other related laws. Under the bill, the provinces, cities and municipalities may purchase, only in cooperation with the DOH and national task force against Covid-19, through a multiparty agreement which shall include the DOH and the relevant supplier of Covid-19 vaccine or ancillary supplies or services. Earlier, House Committee on Economic Affairs Chairman Junie Cua, sponsor of the bill, said an amendment will be introduced to include the Covid-19 National Vaccine Indemnity Fund, to be administered by PhilHealth. He said the P500-million fund is being established to compensate any person inoculated under the Covid-19 Vaccination Program, in case of death or for the medical treatment of any serious adverse event. The amount shall be sourced from the Contingent Fund of the Office of the President.

New memorandum order

While the indemnification bill remains pending in Congress, Duterte also issued Memorandum Order (MO) No. 51 allowing the Department of Health, National Task Force against Covid-19 (NTF) and LGUs to exceed the 15-percent limit when making advance payments for their vaccine acquisition. This will also allow the national government and LGUs to comply with requirements of some drug makers for a 50 percent advance payment, when purchasing their vaccines.

Credit impact…

“The Philippines’s overall issuer profile score is highly negative [E-4], given the high incidence of climate-related shocks, including typhoons and extreme precipitation leading to flooding. In addition, the relatively large, albeit declining, share of the labor force employed by the agricultural sector heightens the country’s susceptibility to heat stress given the periodic episodes of drought,” Moody’s said. The credit watcher also said the inadequate and intermittent access to clean water and issues of waste and pollution add to the Philippines’s exposure to environmental risks. Meanwhile, in terms of the social aspect, Moody’s said the high levels of poverty and low overall levels of wealth are risks to the country’s risk profile. “In the context of rapid economic growth, income inequality remains high while development gaps persist between large urban centers and rural areas. Labor markets feature a high share of informal employment, which is partially mitigated

Continued from A1

by household income support via remittances,” Moody’s said. “Despite traction on socioeconomic reform, inadequate provision of health care and lack of sufficient access to basic services and housing contribute to social risks,” it added. For governance, Moody’s said the Philippines is broadly in line with other sovereigns and that the country’s governance does not pose specific risks. “Strong macroeconomic and fiscal policy effectiveness compensates for comparatively weak political and legal governance, while providing some capacity to respond to environmental and social risks,” Moody’s said. As such, the credit watcher said the Philippines remains at Baa2 with a stable outlook. “The stable outlook reflects the view that the recovery from the acute shock posed by the coronavirus pandemic will restore rapid economic growth relative to peers, complemented by the stabilization and eventual reversal of the deterioration in fiscal and debt metrics,” Moody’s said. Bianca Cuaresma

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‘BONGBONG CONFIDENT POLITICAL BASE INTACT’

HE narrow margin bet ween him and Vice President Maria Leonor Robredo in the 2016 elections, as well as his coming in as close second to Sara Duterte-Carpio in a recent survey on possible frontrunners in the 2022 polls, are a signal to Ferdinand “Bongbong” Marcos Jr. that he enjoys a nationwide political base. This, according to his lawyer, fuels his decision to throw his hat once more into the ring next year, although his camp has not confirmed for what position. In an interview with CNN Philippines, lawyer Vic Rodriguez insisted that the Supreme Court had dismissed only two of the three courses of action that the Marcos camp brought in its election protest against Robredo. This, even as Rodriguez said the protest filed by Marcos is “not relevant anymore” in next year’s presidential elections. Nonetheless, he did not categorically say whether Marcos is ceding the fight against Robredo altogether. In the TV interview, Rodriguez explained that, “when we speak of election protest...in its strictest legal meaning it has...to acquire a legal meaning. Election protest pertains solely to manual recount and judicial revision.... Surely, when you dismissed the entire election protest meaning the manual recount and judicial revision. [I]t follows that you have to dismiss the counter protest.” “[W]e have two pending causes of action before the tribunal. One is the manual recount and judicial revision which is strictly election protest and the other one, the annulment, our third cause of action. The annulment of election results in the three provinces of Mindanao,” Rodriguez added. He said Marcos has no plans to lay down the third “sword” in his election protest because “it has been established during the numerous hearings and decisions and deliberations of the court [that] the third cause of action is separate, distinct and

can proceed independently from the manual recount and judicial revision.” Meanwhile, Marcos has started preparing for the next elections, he said. Rodriguez told CNN Philippines the Marcos camp’s focus has been on the 2022 elections since January 1. This way before Associate Justice Marvic Leonen finished his ponencia on the protest and the magistrates voted on it. The high court ruled unanimously to dismiss the Marcos case against Robredo, the SC spokesman said on Tuesday. In his engagements with media organizations, Rodriguez did not confirm if Marcos will seek the highest position of the land, which his late father and namesake held from 1965 to 1986. Marcos filed his protest against Robredo in June 2016, alleging fraud in the VP race. With the tight race between them, the former senator is confident his political base remains intact, said Rodriguez. His hopes were bolstered by a Pulse Asia survey in November showing Marcos getting the second-highest rank, next only to Davao City Mayor Sara DuterteCarpio, his lawyer added. A separate survey done by other pollsters in December also showed Marcos getting the second-highest number of votes from respondents. After that survey, the daughter of President Duterte released a statement saying she is not interested in seeking the presidency, and asked polling firms not to include her name in succeeding surveys. Robredo is widely expected to be fielded in 2022 by the Liberal Party (LP), which she heads. Hours after the SC ruling in her favor, Robredo had shrugged off queries on her presidential run next year, saying she would rather focus on urgent concerns in dealing with the Covid-19 crisis. All nine LP candidates lost in the 2019 senatorial race, but LP leaders are confident 2022 will have a different outcome.

FIRST SUSTAINABILITY FUND EYES SDG-FRIENDLY PHL FIRMS Continued from A12

Atram said, “investment in a UITF is done through participation in units, or simply enjoying the gains and losses from the fund, instead of ownership of shares, wherein the fund is effectively a company regulated by the Securities and Exchange Commission and the investment represents co-ownership of that company.” The UITF is structured as a MultiClass Fund with two Classes, A Units which will be in Philippine peso and Y Units in US dollars. The trust fee for A Units is 1.75 percent per annum while for Y Units, it’s 0.60 percent per annum. For those who would like to invest, Atram said, the fund is available on their digital platform, Seedbox, for as low as P1,000. For GCash, the minimum investment is P50.

Targeting millennials, Gen Z

In a statement, Hagedorn said the sustainability fund also aims to entice members of the millennial and Gen Z generations, who are seen to become the “biggest investor market in the next decade.” A sustainability fund would be attractive to this young market given the importance they place on sustainability. By buying into the fund, Hagedorn said, investors would have a say on how companies will build the future. “Sustainability has become more relevant in a post pandemic environment that has waged a hefty cost on

society and the economy. The Fund hopes to mitigate some of these effects by incentivizing companies to continuously invest in wellness, progress, and fairness as expressed in the UN SDGs. There is a need to draw inspiration from those who put welfare and responsibility at the forefront,” Hagedorn said. SDGs are the 17 goals set by UN member governments that address the challenges that economies, societies and the environment face, and that threaten earth’s long-term sustainability or outlook. The UN SDGs also serve as common discussion points in the development of socially responsible investment strategies or spectrum. The goals, with 169 targets and 230 global indicators, were adopted in September 2015. The Global Goals aim to end poverty and hunger, promote universal health, education for all and lifelong learning, achieve gender equality, sustainable water management, ensure sustainable energy for all, decent work for all, resilient infrastructure, and reduce income inequality between and among countries. The goals aim to: create sustainable cities, ensure sustainable consumption and production, take action against climate change, conserve and sustainably use oceans and marine resources, reduce biodiversity loss, achieve peaceful and inclusive societies, and revitalize global partnership for development.

A4 Friday, February 19, 2021 • Editor: Vittorio V. Vitug

The Nation BusinessMirror

DENR says Manila Bay water quality improves but still not good enough for bathing, swimming By Jonathan L. Mayuga @jonlmayuga

HE Department of Environment and Natural Resources (DENR) said water quality in Manila Bay continues to improve more than two years after launching the ambitions P47-billion, 7-year “Battle for Manila Bay” rehabilitation program. Inspired by the significant decline in the level of fecal coliform level in Manila Bay, Environment Secretary Roy A. Cimatu, also chairman of the Manila Bay Interagency Task Force, vowed to continue the government’s efforts to clean the waters of the historic bay. This after water samples were taken last February 8, 2021 from 21 stations surrounding the Manila Bay have shown significantly lower fecal coliform from the annual average of 7.16 million most probable number per 100 milliliters (mpn/100ml) in 2020 to only 4.87

million mpn/100ml at present. Cimatu noted that fecal coliform level in the waters near the beach nourishment project has dropped from 2.2 million mpn/100ml last January 4 to 523,000 mpn/100 ml on February 8, based on the average count from three monitoring stations. Despite the significant improvement in the water quality in Manila Bay, including the dumping of artificial white-sand beach at a 500-meter portion of the “Baywalk” along Roxas Boulevard, swimming and bathing and other recreation activities in Manila Bay remain unsafe. The standard coliform level for coastal waters which is safe for swimming and other similar recreational activities is at only P100 mph/100ml. The DENR continues to strictly enforce the Clean Water Act, requiring commercial establishments to put up a sewerage treatment plants (STP) to reduce the pollution levels of water that drain to Manila Bay.

Amid the other tasks that we are also seriously taking on and the restrictions brought about by the pandemic, we assure the Filipino people that our focus to clean Manila Bay is crystal clear. Environment Secretary Roy A. Cimatu Last year, the DENR chief inaugurated a solar-powered STP near the Manila Yacht Club, which contributed to the significant decrease in the level of fecal coliform bacteria in the area. In a news statement, Cimatu said that despite time constraints due to other pressing commitments and the coronavirus 2019 pandemic, the agency still persevered to address the issues in Manila Bay, particu-

larly its water quality. “Amid the other tasks that we are also seriously taking on and the restrictions brought about by the pandemic, we assure the Filipino people that our focus to clean Manila Bay is crystal clear,” Cimatu said. “We have doubled, if not tripled, our efforts to rehabilitate Manila Bay, especially in bringing down the water’s fecal coliform,” he added. The DENR chief reiterated his

commitment to bring down the fecal coliform of the bay to Class SB to make safe for recreational activities and fishing. “We will make sure that we continue to clean the waters of Manila Bay until it becomes safe again for contact activities,” he said. Cimatu also said they will continue to implement necessary interventions to address the water quality of Manila Bay. He pointed out that additional water quality monitoring stations have been installed along the Manila Baywalk on Roxas Boulevard, apart from the regular stations used in 2019 and 2020, to monitor the fecal coliform level of the waters within the major outfalls. The DENR chief also cited that the sewage treatment plant constructed along the Manila Yacht Club has sustained its operation, which also notably contributed in lowering down fecal coliform in the outfall that drains into the Manila Bay.

N. Ecija farmers to receive land, cash, farm machinery from DAR

TOTAL of 2,164 farmers from Nueva Ecija will finally receive their much-awaited land titles from the government as beneficiaries of the Comprehensive Agrarian Reform Program (CARP). The Department of Agrarian Reform (DAR) has scheduled the distribution of 216 individual Certificates of Land Ownership

Award (CLOAs), covering a total of 111.34 hectares of land to 200 landless farmers in the province on Friday, February 19, during ceremonies to be held at Hotel Consuelo in Sta. Rosa, Nueva Ecija. Aside from the CLOAs, the DAR will also distribute a total of P1.81 million worth of financial assistance, P1.9-million vital farm

machinery and P5.5 million worth of hauling tricycles during the event. In a news statement released a day ahead of the event, DAR Secretary John R. Castriciones said to be awarded by DAR are financial assistance to two 2 agrarian reform beneficiaries’ organizations (ARBOs), 2 units of 40-horsepower tractors

and 75 hauling tricycles. DAR Undersecretaries Emily Padilla of the Support Services Office and Virginia Orogo of the Planning, Policy and Research Office will be assisting Castriciones in distributing the package of support from DAR. The CLOAs to be distributed cover pockets of landholdings that are spread over 12 municipalities and 2 cities in Nueva Ecija. The Bagong Talavera Agrarian Reform Cooperative, located in Paludpod, Talavera would be the biggest winner as its 16 members would receive financial assistance amounting to P1.44 million under the DAR’s Credit Assistance Program for Program Beneficiaries Development (CAP-PBD) to replenish its funds for loans applied for by its members that is intended for livelihood and other enterprisedevelopment projects.

A total of 11 members of the Talavera Handicraft Makers and Processed Food Producers Cooperative would also get its share of P374,000 credit assistance under the Expanded Assistance to Restore and Install Sustainable Enterprises for Agrarian Reform Beneficiaries (E-ARISE ARBs) to enable the cooperative to continue serving the financial needs of its members who had been adversely affected by natural calamities, disasters, pests and diseases and viral infections/outbreaks. He also identified the two lucky ARBOs to be gifted with a tractor each as the Lawang Kupang Farmers ARB Cooperative of San Antonio municipality, benefiting its 80 members; and the Calabalaan Farmers ARB Cooperative of the Science City of Muñoz, with 38 member beneficiaries. Jonathan L. Mayuga

Limited impact seen in fresh monetary moves continued from a1

The BSP had also reported that despite their stimulus, the local bank lending rate entered negative territory at 2020’s close, registering the system’s first decline in 14 years. The governor, however, projected bank lending to pick up in the coming months once the economy starts to recover. “We know that credit demand has remained weak despite substantial monetary easing. And this is due to persistent bank risk aversion. Looking ahead, the BSP expects borrowing and lending activity to pick up in the coming months, as

the economy recovers with continuing monetary and fiscal policy supporting progressive lifting of lockdown measures and mass inoculation against Covid-19,” Diokno said. Several analysts have forecast a muted monetary policy direction from the BSP for the entire 2021. Earlier this week, 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.

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Nolcom installs sovereign markers in remote northern maritime territory By Rene Acosta @reneacostaBM

HE military’s Northern Luzon Command (Nolcom) is continuing to assert the country’s sovereignty in the northern maritime territory after installing two sovereign markers at Mabaag and Barit Islands in Aparri, Cagayan, on Wednesday. The two newly erected sovereign markers add up to the 11 sovereign markers that were already installed last year to the 11 uninhabited islands that were located north of Cagayan and within the Babuyan Channel. Like the other markers, the two latest markers were emplaced in prominent areas of the two islands, making them clearly visible to vessels transiting the waterways in the country’s northern maritime territory. Commodore Caesar Bernard Valencia, commander of the Naval Forces Northern Luzon, whose personnel are responsible in establishing the two sovereign markers, explained the significance of the markers in asserting the country’s claim in the maritime areas. “These islands and their surrounding territorial waters are an integral part of the country’s territory. Thus, these markers will help us ensure that our sovereignty will be recognized in these areas,” he stressed. Nolcom and Area Task Force- North commander Lt. Gen. Arnulfo Marcelo Burgos Jr. said the placing of the markers was part of the effort of the military in declaring those waters as part of the country. “ The establishment of these sovereign markers is our proactive way of asserting our sovereignty in the northern maritime territories,” he said. “We give utmost importance to our country’s northern maritime territory, as we treat these maritime areas as a significant part of our country. It is a key source of livelihood due to its abundant marine resources and a strategic trading route to boost our economy.Thus, it must be secured, and our sovereignty must be asserted in these areas,” he added. Aside from the markers, the military also regularly conducts maritime and surface patrols in the northern waters. Burgos reaffir med the Nolcom’s commitment in preserving the integrity of the national territory, saying that “rest assured that we will remain proactive and vigilant in ensuring the security of our people, as we safeguard our sovereignty and preserve the integrity of our national territory in this part of our country.”

PHL’s 1st catastrophe insurance facility rolled out soon–DOF continued from a1 Funa said with the PCIF in place, communities, businesses and even households can hasten their recovery after large losses arising from catastrophic events such as typhoons and earthquakes. Apart from these, Funa said, the PCIF aims to create a risk-appropriate rating environment that ensures sustainable premium rates. This,

he said, will provide the public wider access to catastrophe insurance protection. DOF said the PCIF aims to pool resources available in the country to keep most of the funds here and enable non-life insurers to grow the premium base. This would allow them to expand the range of catastropheinsuranceproductsavailabletoFilipinos.

Last year, the IC, Nat Re and PIRA signed a memorandum of understanding (MOU) committing them to cooperate on the establishment of the PCIF. Domestic insurance companies that provide catastrophe coverage currently reinsure their risks overseas.

SC: PLDT case vs BayanTel, Globe moot continued from a12 The PLDT also argued that the joint application seeks the transfer of Bayantel’s franchise to Globe, thus, prior congressional approval is needed. And, by holding in abeyance the resolution of the issue of whether or not prior legislative approval is required to entertain the join application, the NTC appropriated unto itself powers that are inherent in Congress and which were not delegated. PLDT stressed that the NTC violated its own rules, the notarial rules, rules of court and other applicable jurisprudence by acting on the joint application to the prejudice of the rights of PLDT and other interested parties. The CA noted, however, that the ARP and MRA were furnished to the NTC during its course of proceedings; thus, the issue raised by PLDT on the matter is moot and academic.

Likewise, the appellate court held that the NTC did not commit grave abuse of discretion in deferring resolution of the issue on whether or not prior congressional approval is needed before the NTC can proceed to hear the joint application of Globe and Bayantel. The CA pointed out that such assertion requires proof that an actual transfer of franchise will happen between the two firms. Records showed that on October 11, 2013, Globe and Bayantel filed before NTC a joint application for the approval of the debt-to-equity transaction between the two companies. The case arose after the rehabilitation court approved Bayantel’s ARP and MRA which allowed its creditors the option to convert their restructured debt in the total amount of $114 million into additional equity.

As the principal creditor, Globe Telecom agreed to convert its exposure into 56.6 percent of Bayantel’s outstanding shares. However, Section 20 (h) of Commonwealth Act 146 of the Public Service Act requires that before a transfer of more than 40 percent of a grantee’s subscribed capital stock can be effected, the grantee and the transferee must obtain the approval or authorization of NTC; otherwise, the transfer shall be deemed null and void. To recall, Globe acquired 98.26 percent of Bayantel’s loans and 100 percent of Radio Communications of the Philippines Inc’s (RCPI) liabilities. RCPI is a unit of Bayantel, and both are owned by the Lopez Group. The acquisition cost $130 million, lower than the $400-million face value of Bayan’s aggregate debt. Joel R. San Juan

Economy BusinessMirror

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Editor: Vittorio V. Vitug • Friday, February 19, 2021 A5

NIA blacklists 3 ‘delinquent’ contractors By Jasper Emmanuel Y. Arcalas @jearcalas

HE National Irrigation Administration (NIA) has blacklisted three project contractors for failing to “fully and faithfully” comply with their contractual obligations over construction and improvement of dams. In a news statement issued on Thursday, NIA said it has blacklisted MAC Builders, the consortium of ITP Construction Inc. and Guangxi

Hydroelectric Construction Bureau Co. Ltd and Premium Megastructures Inc. for one year. The three contractors are suspended from participating in all government procurement for one year from January 28, 2021 until January 27, 2022, NIA added. T he t hree cont ractors were blacklisted for their failure to comply with their respective contracts, the agency added. On top of the blacklisting, NIA

Bill seeks to update IP Code, promote creativity, innovation

AWMAKERS are pushing for the passage of a bill that seeks to fill the gaps in the Intellectual Property (IP) Code and ensure that scientists, inventors, artists, and other gifted citizens are encouraged to continue with their pursuits in creativity and innovation. AAMBIS-OWA Party-list Rep. Sharon Garin and Pangasinan Rep. Christopher de Venecia said their House Bill 8062, or the New Intellectual Property Act is designed to ensure a balance between the interests of both the owners/ holders and users of the products. The authors of the bill said innovation and creativity are important factors and drivers of economic growth. They said protecting the IP rights helps to ensure that individuals who innovate and use their creativity and skills are properly rewarded and their rights over their creations are protected. The bill increases the capacity of the Intellectual Property Office of the Philippines (IPOPHL) to provide assistance to stakeholders, the general public, and specific sectors like academe, the industries, and micro, small and medium enterprises. It also highlights the streamlining of administrative procedures related to IP rights and liberalizing the registration on the transfer of technology. According to Garin, these will enhance the enforcement of IP rights

in the Philippines and promote the use of relevant, emerging, advanced, and state-of-the-art technologies in providing a more efficient and higher quality service to the stakeholders and the public. Upon the enactment of the bill, provisional patent applications shall be allowed to encourage Philippine inventors to file applications while the invention has yet to be perfected. The bill is also set to promote the adoption of IP policies in schools, universities, research and development institutions, and public entities to nurture a culture of creativity and innovation. In line with the country’s gradual shift to a digital platform, the bill mandates the creation of the SubCommittee on Enforcement of Intellectual Property Rights in the Digital Environment, which shall be in charge of issuing orders that will restrict, limit, reduce, or disable the capability of online platforms and the persons operating them to engage in infringing activities, including, but not limited to such measures as taking or shutting down or permanent closure of web sites or online platforms, removing allegedly infringing materials, or blocking access thereto including payment gateways. The bill is pending with the House Committee on Trade and Industry since November 2020. Jovee Marie N. Dela Cruz

Extra expense: Palawan seeks addl P50-M budget for upcoming poll

HE Commission on Elections (Comelec) has requested for an additional P50-million supplemental budget for the conduct of the upcoming plebiscite in Palawan to implement minimum health standards. In an online news briefing on Thursday, Comelec Region 4B Director Gloria Ramos-Petallo said this is on top of the P79 million already allocated by the provincial government of Palawan for the said activity last year. She explained they will use the additional budget for voting venues. “Before the pandemic, we can accommodate about 400 registered voters in polling precincts. However, now

we could only accommodate 200 to comply with the IATF [Inter-Agency Task Force on Management of Infectious Diseases] requirements observing distancing and health protocols,” Petallo said. Comelec is set to conduct a plebiscite on March 13, 2021, for the ratification of Republic Act (RA) 11259 or the Act Dividing the Province of Palawan into three provinces—Palawan del Norte, Palawan Oriental and Palawan del Sur. The plebiscite was supposed to be conducted last year, but was postponed by the poll body due to the Covid-19 pandemic. Samuel P. Medenilla

said a total of P2.060 billion of performance securities by the three contractors has been forfeited in favor of the government, pursuant to the penalty provisions stipulated under Republic Act 9184 or the Government Procurement Act. “The blacklisting of the three contractors was made in penalty to their failure to fully and faithfully comply with contractual obligations without valid cause or non-compliance to any written lawful instruction of the pro-

CDC CARES FOR PNP FRONTLINERS

NIA said MAC Builders, project contractor of the P730.945-million Malinao Dam Improvement Project, will forfeit its P219.283-million performance security for the project to the NIA. “On the other hand, ITP/Guangxi Construction [Consortium], with principal address at 10 Dao Street, Project 3, Quezon City, is the project contractor of P5.863-billion BalogBalog Storage Dam and its appurtenant structures under the BalogBalog Multipurpose Project-Phase II

[BBMP-II] located in Barangay Maamot, San Jose, Tarlac,” NIA said. “Moreover, NIA forfeited the PerformanceSecurityofthecontractoramounting to P1,759,116,280.55,” it added. NIA said Ormoc City, Leyte-based Premium Megastructures is the contractor of the P273.508-million BonotBonot Earthfill Dam and its appurtenant structures located in the municipality of Buenavista Bohol. Premium Megastructures’ P82.052-million performance security has been forfeited.

Lawmaker backs appeal of hog raisers to double ASF indemnification to ₧10K T

HE chairman of the House Committee on Agriculture and Food on Thursday backed the appeal of various hog producers for the government to raise the indemnification cost for every pig sickened by the African swine fever (ASF). In a news statement, Quezon Rep. Mark Enverga, said the Department of Agriculture (DA) should come out with “win-win solution” that would first address the problem that raised havoc to swine raisers and secondly, assure the steady supply of pork in the market by assisting local producers in reviving their operation. According to Enverga, the local swine industry is in dire need of help after the said deadly disease entered the country in 2019 that resulted in the closure of many hog farms, as well as backyard raisers who decided to temporarily stop their business. The DA is pays a standard P5,000 per head of swine that died and those needed to be culled in an effort to stop the spread of the virus. But Enverga said the amount is not enough even to recover the losses incurred by hog producers, saying the government should also put into consideration the challenges brought about by the Covid-19 pandemic. After experiencing great loss to ASF, he said, many hog producers are adamant to reinvest for fear of failing to recover not

only their new capital but also their previous losses as well. During the recent hearing of the committee, Pork Producers Federation of the Philippines (ProPork) President Edwin Chen called on DA to double, or from P5,000 per head, the agency should pay pork farmers P10,000 for each pig infected by ASF. Enverga said “we support the call for an increase from P5,000 to P10,000 indemnification pay out.” Likewise, Enverga raised with the DA the concern of other hog farmers who are yet to receive their indemnification pay, notably from those from the National Capital Region (NCR), Calabarzon (Region 4A) and Bicol region. Enverga also asked DA to be proactive in responding to the plight of swine raisers, and that there must be concrete actions on the goal of revitalizing the industry and putting an end on the spread of

PhilHealth extends deadline for employers to remit Jan contributions to February 22 By Cai U. Ordinario

@caiordinario

HE Philippine Health Insurance Corp. (PhilHealth) is extending its deadline for employers to remit contributions for January. The deadline has been extended to February 22, 2021 in view of the technical issues in the Electronic Premium Remittance System (EPRS) Online Payment Module. The EPRS has been experiencing issues since February 11, preventing employers from generating their Statement of Premium Accounts or billing statements. “The extension is applicable to all employers in the private and government sectors nationwide,” PhilHealth said. “Employers needing further assistance may contact the nearest Local Health Insurance Office or their respective PhilHealth Accounts Management Specialists,” it added.

AMLC tie up

Clark Development Corp. (CDC) PresidentCEO Manuel R. Gaerlan (center) personally hands collapsible tents to PCol. Narciso Domingo, Deputy Regional Director for Administration (second from right) and PLtCol. Amado Mendoza Jr., (right) from the Police Regional Office 3 (PRO3). The said tents are part of the protective gears that were also recently donated by CDC which includes 52 boxes of medicines, 40 boxes of face masks, and 400 pieces of face shields to help ensure the overall safety of PNP frontliners. Also in the photo are CDC VP for Admin and Finance Engr. Mariza O. Mandocdoc (second left) and CDC AVP for External Affairs Rommel C. Narciso (left). CDC-CD PHOTO

curing entity or its representative[s] pursuant to the implementation of the contract,” NIA stated. “Other violations under Annex I of the Revised Implementing Rules and Regulations [IRR] of RA 9184 include the absence of minimum essential equipment listed on the bid. The said equipment is necessary to prosecute the contract works in accordance with the approved work plan and equipment deployment schedule as required for the project,” NIA added.

MEANWHILE, PhilHealth and the Anti-Money Laundering Council (AMLC) will be partnering to prevent, control, detect investigate, and prosecute money-laundering facilities, including terrorism financing. In a news statement, PhilHealth said the agreement will help the agency obtain financial information related to violating laws that it was tasked to implement, particularly those that involve unlawful activities under the Anti- Money Laundering Act of 2001. “The partnership also endeavors to cooperate in the areas of information exchange in accordance with the Data Privacy Act of 2012, and capacity building measures to enhance the capability of both parties in addressing money laundering, terrorism financing and unlawful activities in the country,” the statement read. The agreement was signed by PhilHealth President and CEO Atty. Dante A. Gierran and AMLC Executive Director Atty. Mel Georgie B. Racela in a ceremony in Pasig City.

the ASF, including the immediately securing the needed supplies of the much-awaited vaccine and boost the confidence of stakeholders. Enverga also directed the DA to submit to his committee its supply chain analysis on pork and to tighten its watch on the supply chain so as to immediately identify those who are causing the skyrocketing of the price of pork.

As part of the current nationwide biosecurity and surveillance program, aptly called “BABay ASF” (Bantay ASF sa Barangay), Agriculture Secretary William Dar told lawmakers that the DA is initially allotting P80 million for the development and mass production of Filipino-made test kits that can detect the ASF faster and cheaper. Jovee Marie N. Dela Cruz

BusinessMirror

Friday, February 19, 2021

ESTABLISHMENT / ADDRESS NO.

FOREIGN NATIONAL / NATIONALITY

ESTABLISHMENT / ADDRESS POSITION

21TH CONSTRUCTION DEVELOPMENT CORPORATION #28 Lot 12 Blk 94 R. Papa Ave. Cor. P. Garcia St. Phase 6, Afpovai Western Bicutan Taguig City 1.

JIAO, CONG Chinese

ASST. MARKETING

24/7 BUSINESS PROCESSING INC. 11/f Capella Bldg. L-3&4 B2, Asean Drive Filinvest Alabang Muntinlupa City 2.

SUN, NA Chinese

MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE

8 STONE BUSINESS OUTSOURCING OPC 5/f To 10/f, Tower 4 Pitx #01 Kennedy Road Tambo Parañaque City 3.

CAO, YONG Chinese

CHINESE SPEAKING BUSINESS DEVELOPMENT ASSOCIATE

CAO, YANYAN Chinese

CHINESE SPEAKING BUSINESS DEVELOPMENT ASSOCIATE

LIU, ANRAN Chinese

CHINESE SPEAKING BUSINESS DEVELOPMENT ASSOCIATE

CAO, XIANGJIN Chinese

NO.

FOREIGN NATIONAL / NATIONALITY

ESTABLISHMENT / ADDRESS POSITION

AMUSETECH BUSINESS OUTSOURCING 2/f Rivergreen Residences 2217 Pedro Gil St. 096, Bgy 880 Santa Ana Manila 36.

LIU, TAO Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

ANOC99 CORPORATION 5/f Ayala Malls Manila Bay Building D. Macapagal Blvd. Cor. Aseana Street Tambo Parañaque City 37.

CHEN, MENGHONG Chinese

CHINESE CUSTOMER SERVICE

38.

WU, JIANMING Chinese

CHINESE CUSTOMER SERVICE

39.

ZHU, SHUYUAN Chinese

CHINESE CUSTOMER SERVICE

BAOLONG TECHNOLOGY INDUSTRY GROUP LIMITED INC. 20-29th/f Century Diamond Tower Kalayaan Ave. Cor. Salamanca St. Poblacion Makati City

NO.

FOREIGN NATIONAL / NATIONALITY

POSITION

103.

SHANG, PENG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

104.

SHU, ANHUI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

105.

SU, SHIXING Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

106.

SUN, SHILIANG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

107.

TANG, RUI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

108.

WANG, GONGWEI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

109.

WANG, QUANLIN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

110.

WANG, DAFENG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

111.

WANG, BINGSHOU Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

112.

WU, NANNAN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

113.

XU, ZHIXIN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

MARKETING AND SALES AGENT

114.

YU, SIKAI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

ECHOTECH SERVICES INC. 18/f Philamlife Tower 8767 Paseo De Roxas Bel-air Makati City

115.

ZHANG, JUN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

71.

SHARMA, DEEPESH Indian

72.

LIU, YU-WEI Taiwanese

73.

FISHER, ALEXANDER WILLIAM American

41.

MANDARIN CUSTOMER SERVICE REPRESENTATIVE

74.

CHENG, PENG Chinese

CHINESE SPEAKING DATA ENTRY CLERK

42.

HONG MY LINH Vietnamese

MANDARIN CUSTOMER SERVICE REPRESENTATIVE

EASTERN GOLD CORPORATION 503 Nueva St Binondo Manila

DENG, GUANGWEI Chinese

CHINESE SPEAKING DATA ENTRY CLERK

43.

MANDARIN CUSTOMER SERVICE REPRESENTATIVE

75.

DING, LIANGQUN Chinese

CHINESE SPEAKING DATA ENTRY CLERK

JEFFREY HOO CHEONG YEW Malaysian

44.

CHINESE SPEAKING DATA ENTRY CLERK

MANDARIN CUSTOMER SERVICE REPRESENTATIVE

10.

LIU, QIAO Chinese

LISANIAS Indonesian

45.

CHINESE SPEAKING DATA ENTRY CLERK

MANDARIN CUSTOMER SERVICE REPRESENTATIVE

11.

LIU, SHIGANG Chinese

MAULINDA Indonesian

12.

LIU, QIANG Chinese

CHINESE SPEAKING DATA ENTRY CLERK

13.

CHEN, TING Chinese

CHINESE SPEAKING GRAPHIC DESIGNER

14.

YANG, JIANPING Chinese

CHINESE SPEAKING GRAPHIC DESIGNER

15.

YE, HONGZHOU Chinese

CHINESE SPEAKING GRAPHIC DESIGNER

ZENG, WENBIN Chinese

CHINESE SPEAKING GRAPHIC DESIGNER

18.

CHEN, QING Chinese

CHINESE SPEAKING PROGRAM DESIGNER

19.

CHEN, TAO Chinese

CHINESE SPEAKING PROGRAM DESIGNER

CHEN, QING Chinese

CHINESE SPEAKING PROGRAM DESIGNER

21.

CHEN, SI Chinese

CHINESE SPEAKING PROGRAM DESIGNER

22.

CHEN, QIJIAN Chinese

CHINESE SPEAKING PROGRAM DESIGNER

23.

BAI, CHUNYU Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

24.

DONG, JUNLIANG Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

25.

LIU, BIN Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

26.

WANG, MINLONG Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

20.

HSU, MING-HSI a.k.a. HSU, PI-CHIA Taiwanese

YANG, KANG Chinese

CHINESE SPEAKING ADMIN ASSOCIATE

76.

CAO, JIA Chinese

MANDARIN SITE TECHNICAL OFFICER

116.

ZHANG, YUYI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

77.

CHEN, XINMING Chinese

MANDARIN SITE TECHNICAL OFFICER

117.

ZHONG, YU Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

78.

WANG, WENHAI Chinese

MANDARIN SITE TECHNICAL OFFICER

118.

ZHOU, RONGJUN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

79.

ZHANG, XIN Chinese

MANDARIN SITE TECHNICAL OFFICER

119.

ZHOU, YANPENG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

FINEST GW CONSULTANCY SERVICE INC. Unit-a Paseo View 16/f Ba Lepanto Bldg. 8747 Paseo De Roxas Belair Makati City

120.

ZHOU, YUPENG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

121.

ZHOU, HOUDE Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

122.

ZHU, YULONG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

123.

BUI THI YEN Vietnamese

VIETNAMESE CUSTOMER SERVICE REPRESENTATIVE

NGUYEN THI NGOC PHUONG Vietnamese

COMPUTER SYSTEM ANALYST

47.

BU, XIAOYUN Chinese

MANDARIN CUSTOMER SERVICE

48.

FENG, ZHIHAO Chinese

MANDARIN CUSTOMER SERVICE

49.

HUANG, QINGHUI Chinese

MANDARIN CUSTOMER SERVICE

50.

KUANG, XIAOLU Chinese

MANDARIN CUSTOMER SERVICE

51.

KUANG, LYU Chinese

MANDARIN CUSTOMER SERVICE

81.

52.

LIN, WENCHENG Chinese

MANDARIN CUSTOMER SERVICE

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

53.

LYU, WENJUN Chinese

MANDARIN CUSTOMER SERVICE

82.

BAN, LIUQIN Chinese

54.

MA, YI Chinese

MANDARIN CUSTOMER SERVICE

83.

55.

YANG, YUANJIE Chinese

MANDARIN CUSTOMER SERVICE

56.

YIN, YUNTAO Chinese

57.

46.

NO.

SALES MANAGER

DYNA BINARY HOLDINGS INC. 18/f Tower 2 The Enterprise Center, 6766 Ayala Ave., Cor. Paseo De Roxas San Lorenzo Makati City

DUONG THANH THU Vietnamese

17.

CHINESE SPEAKING ADMIN ASSOCIATE

DIGITAL DOLPHIN ASIA INC. Unit A 22/f Robinsons Cyberscape Beta Topaz Road Cor. Ruby Roads Ortigas Center, San Antonio Pasig City

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

CHINESE SPEAKING GRAPHIC DESIGNER

COMMERCIAL LEADER, PH (COUNTRY LEADER)

DIAMONDSTONE INC. Unit No. Unit 2c Flr. One E-com Center Building Bldg. Lot No.4/f, Ocean Drive St. Mall Of Asia Complex Subd. District 4 Barangay 076 District 4 Pasay City

MANDARIN CUSTOMER SERVICE REPRESENTATIVE

YU, ZHIWEI Chinese

POSITION

CORTEVA AGRISCIENCE PHILIPPINES, INC. 8th Flr. I Square Bldg. Meralco Ave., Ortigas Ctr. San Antonio Pasig City

DOAN VAN THUY Vietnamese

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

ESTABLISHMENT / ADDRESS FOREIGN NATIONAL / NATIONALITY

40.

16.

www.businessmirror.com.ph

80.

LY THANH PHUONG Vietnamese

CHINESE SPEAKING BUSINESS DEVELOPMENT ASSOCIATE

FIRST GREAT COMPUTER TECHNOLOGIES INC. Lot 5 Sta. Agueda Cor. Queensway Pagcor Drive Sto. Niño Parañaque City LI, JUNPENG Chinese

MANDARIN CUSTOMER SERVICE REPRESENTATIVE

FUXINGYING CAIYUN HENTONG, CORP. 7th, 8th, 9th, 10th Floor Eton Ewestpod Chino Roces Avenue Cor. Yakal & Malugay Streets San Antonio Makati City 124.

CHEN, GUOBIN Chinese

CHINESE CUSTOMER SERVICE

CHINESE CUSTOMER SERVICE REPRESENTATIVE

125.

HU, XIAOQIAN Chinese

CHINESE CUSTOMER SERVICE

CHEN, XIANYAO Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

126.

HUO, PEIYI Chinese

CHINESE CUSTOMER SERVICE

84.

CHEN, SONG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

127.

JIA, MALIN Chinese

CHINESE CUSTOMER SERVICE

MANDARIN CUSTOMER SERVICE

85.

CHEN, YAOYAO Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

128.

LI, YINGLONG Chinese

CHINESE CUSTOMER SERVICE

ZHANG, LI Chinese

MANDARIN CUSTOMER SERVICE

86.

DING, ZHENGBIN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

129.

LIAO, XIANGTIAN Chinese

CHINESE CUSTOMER SERVICE

58.

ZHU, LIN Chinese

MANDARIN CUSTOMER SERVICE

87.

DUAN, XIBIN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

130.

LIU, JINNAN Chinese

CHINESE CUSTOMER SERVICE

59.

GUO, QIAOYAN Chinese

MANDARIN LANGUAGE SPECIALIST

88.

GUO, AICHEN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

131.

LIU, YUNJIE Chinese

CHINESE CUSTOMER SERVICE

60.

HOU, DANLI Chinese

MANDARIN LANGUAGE SPECIALIST

89.

GUO, HAILONG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

132.

SHEN, BIFANG Chinese

CHINESE CUSTOMER SERVICE

61.

LI, HAIXIN Chinese

MANDARIN LANGUAGE SPECIALIST

90.

HUANG, DONGDONG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

133.

SHEN, NONG Chinese

CHINESE CUSTOMER SERVICE

62.

LUO, XIAO Chinese

MANDARIN LANGUAGE SPECIALIST

91.

HUANG, HAIBING Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

134.

TAN, RONGYUN Chinese

CHINESE CUSTOMER SERVICE

63.

YI, TAIPING Chinese

MANDARIN LANGUAGE SPECIALIST

92.

JIANG, JIACHENG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

135.

WEI, JIACHENG Chinese

CHINESE CUSTOMER SERVICE

27.

YANG, YUAN Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

28.

ZHANG, LEI Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING MANDARIN CUSTOMER SERVICE REPRESENTATIVE

64.

ZHANG, BING Chinese

MANDARIN LANGUAGE SPECIALIST

93.

LI, TINGTING Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

136.

29.

LI, FEI Chinese

XIONG, DAN Chinese

CHINESE CUSTOMER SERVICE

MANDARIN CUSTOMER SERVICE REPRESENTATIVE

65.

ZHAO, SHAOLUO Chinese

MANDARIN LANGUAGE SPECIALIST

94.

LIANG, WEILI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

137.

YANG, FAN Chinese

CHINESE CUSTOMER SERVICE

30.

LIU, RONGCE Chinese

MANDARIN CUSTOMER SERVICE REPRESENTATIVE

66.

ZOU, SHIMIN Chinese

MANDARIN LANGUAGE SPECIALIST

95.

LIN, QUANLONG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

138.

ZHUANG, JIANNAN Chinese

CHINESE CUSTOMER SERVICE

31.

LIU, ZIANG Chinese

MANDARIN CUSTOMER SERVICE REPRESENTATIVE

LI, PENGJU Chinese

QA (QUALITY ASSURANCE) SPECIALIST

96.

LIU, JIAJIA Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

139.

TANG, ZHIYONG Chinese

67.

HONG ZHENG XU Malaysian

MALAYSIAN CUSTOMER SERVICE

YANG, WENLING Chinese

MANDARIN CUSTOMER SERVICE REPRESENTATIVE

BOWENHILLS TECH INC. 19/f Lepanto Bldg. 8747 Paseo De Roxas Bel-air Makati City

97.

LIU, HUAN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

98.

LU, LIUSHAI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

GENX SPORTS & MEDIA PRODUCTION CORP. 26th And 27th Flr. Eastwood Cyber One Bldg. Eastwood City Cyberpark No. 188 E. Rodriguez Jr. Ave. Bagumbayan 3 Quezon City

99.

LUO, JIAHUA Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

100.

LUO, JIAXING Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

101.

LUO, ZHOUJIE Chinese

102.

RUAN, KUN Chinese

32. 33.

ACCENTURE, INC. 7f Robinsons Cybergate Tower 1 Pioneer St Mandaluyong City 34.

YOSHIOKA, TAKU Japanese

JAPANESE SERVICE DELIVERY OPS SENIOR ANALYST

ACTION.ABLE INC. 2/f Crown Center 158 N. Garcia Cor. Jupiter Sts. Bel-air Makati City 35.

MUNTEANU, LUCIAN Romanian

TECHNICAL OPERATIONS SPECIALIST

68.

LIANG, PO-CHUN Taiwanese

TAIWANESE-SPEAKING CUSTOMER SERVICE

69.

TRAN DU KY Vietnamese

VIETNAMESE-SPEAKING COMPLIANCE OFFICER

CHUBB ASIA PACIFIC PTE. LTD. 12f Rockwell Business Center Sheridan Brgy. Highway Hills Mandaluyong City 70.

NICKY INKRAIS WITRAS Indonesian

SENIOR ANALYST - ACTUARIAL SUPPORT

140.

CHAN HOU KEONG Malaysian

CUSTOMER SERVICE REPRESENTATIVE (MALAYSIAN SPEAKING)

141.

CAO, YILONG Chinese

CUSTOMER SERVICE REPRESENTATIVE (MANDARIN SPEAKING)

CHINESE CUSTOMER SERVICE REPRESENTATIVE

142.

CHEN, YUXI Chinese

CUSTOMER SERVICE REPRESENTATIVE (MANDARIN SPEAKING)

CHINESE CUSTOMER SERVICE REPRESENTATIVE

143.

CHENG, XINHUI Chinese

CUSTOMER SERVICE REPRESENTATIVE (MANDARIN SPEAKING)

BusinessMirror

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

FOREIGN NATIONAL / NATIONALITY

ESTABLISHMENT / ADDRESS POSITION

144.

FENG, XIAOWEN Chinese

CUSTOMER SERVICE REPRESENTATIVE (MANDARIN SPEAKING)

145.

YAO, ZHUOLIN Chinese

CUSTOMER SERVICE REPRESENTATIVE (MANDARIN SPEAKING)

ZHAO, LIJUN Chinese

CUSTOMER SERVICE REPRESENTATIVE (MANDARIN SPEAKING)

146.

GLOBALLGA BUSINESS PROCESS OUTSOURCING Ground Level, Level 2-5 Floor Silver City 4, Ortigas East Ugong Pasig City 147.

148.

149.

150.

LIN, DIMING Chinese LIU, CHENGJIE Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

XU, HUAN Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

ZHAO, YAXIN Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

151.

GUO, SIYUAN Chinese

MARKETING STAFF MANDARIN SPEAKING

152.

LOU, SHUANGQI Chinese

MARKETING STAFF MANDARIN SPEAKING

HC CONSUMER FINANCE PHILIPPINES, INC. 15th Floor, Ore Central 9th Ave. Cor 31st. Bonifacio Global City Fort Bonifacio Taguig City 153.

PECHOUCKOVA, JANA Czech

CHIEF FINANCIAL OFFICER

HINDUJA GLOBAL SOLUTIONS LIMITED 7th Floor Aeon Prime Centre North Bridgeway Avenue Corner Alabang- Zapote Road, Northgate Cyberzone Filinvest Corporate City, Alabang Muntinlupa City 154.

ANTONIO ANDREAS SITUMORANG Indonesian

BAHASA INDONESIA SPEAKING ASSOCIATE

HUAWEI TECHNOLOGIES PHILS. INC. U-5302, 53/f Pbcom Tower 6795 Ayala Ave., Cor., V.a. Rufino St. Bel-air Makati City

155.

YIN, XING Chinese

NETWORK PERFORMANCE OFFICER FOR GLOBE WIRELESS EXPANSION PROJECT

NO.

ESTABLISHMENT / ADDRESS POSITION

NO.

FOREIGN NATIONAL / NATIONALITY

179.

WANG, YIQUN Chinese

CHINESE IT SUPPORT SPECIALIST

221.

JIANG, MAOYIN Chinese

CHINESE CUSTOMER SERVICE

180.

WANG, TINGWEN Chinese

CHINESE IT SUPPORT SPECIALIST

222.

LI, LINGSEN Chinese

CHINESE CUSTOMER SERVICE

CHINESE IT SUPPORT SPECIALIST

223.

LI, HONGYIN Chinese

CHINESE CUSTOMER SERVICE

CHINESE IT SUPPORT SPECIALIST

224.

LI, KAOYING Chinese

CHINESE CUSTOMER SERVICE CHINESE CUSTOMER SERVICE

REFINITIV ASIA PTE. LTD. - PHILIPPINE BRANCH Ground Floor 18/20 Building Upper Mckinley Hill Fort Bonifacio Taguig City

181. 182.

WANG, MEIHU Chinese WANG, HU Chinese

184. 185.

XIANG, LONGHUA Chinese

CHINESE IT SUPPORT SPECIALIST

227.

LIANG, GUANGHUI Chinese

CHINESE CUSTOMER SERVICE

186.

XU, CHAO Chinese

CHINESE IT SUPPORT SPECIALIST

228.

LIU, DAHAI Chinese

CHINESE CUSTOMER SERVICE

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

229.

LOW WAI CHUN Malaysian

CHINESE CUSTOMER SERVICE

230.

SHAUK LWAN Myanmari

CHINESE CUSTOMER SERVICE

S&P CONSTRUCTION TECHNOLOGY & DEVELOPMENT CO., INC. U-1168b G/f Veca Bldg. Chino Roces Ave. Cor. Estrella St. San Antonio Makati City

231.

SU, QIAOHONG Chinese

CHINESE CUSTOMER SERVICE

278.

232.

TU, QINGBIN Chinese

CHINESE CUSTOMER SERVICE

233.

VONG ANH Vietnamese

CHINESE CUSTOMER SERVICE

SA RIVENDELL GLOBAL SUPPORT, INC. 5th & 7th Flr. Star Cruises Ce Andrews Drive Newport City Brgy. 183 Pasay City

234.

WANG, XIANGZHI Chinese

CHINESE CUSTOMER SERVICE

235.

WANG, BINBIN Chinese

CHINESE CUSTOMER SERVICE

236.

WANG, JINXUAN Chinese

CHINESE CUSTOMER SERVICE

237.

WANG, RUI Chinese

CHINESE CUSTOMER SERVICE

238.

WANG, XUTENG Chinese

CHINESE CUSTOMER SERVICE

239.

WEI, XIANG Chinese

CHINESE CUSTOMER SERVICE

240.

WEI, BOYU Chinese

241.

XU, SHUAI Chinese

CHINESE IT SUPPORT SPECIALIST

188.

YUAN, GUANG Chinese

CHINESE IT SUPPORT SPECIALIST

189.

ZHAN, XIANG Chinese

CHINESE IT SUPPORT SPECIALIST

190.

ZHANG, RONGCAI Chinese

CHINESE IT SUPPORT SPECIALIST

191.

ZHANG, XIAOLUO Chinese

CHINESE IT SUPPORT SPECIALIST

187.

JINDINGYUAN BUSINESS SUPPORT, INC. 3-9/f Filinvest Cyberzone Bldg. A, Bay City Brgy. 076 Pasay City 192.

LIU, JIAN Chinese

CUSTOMER SERVICE REPRESENTATIVE

MEGA-WEB TECHNOLOGIES INC. 6,7,8,9,10,11/f Met Live Bldg. Edsa Cor. Macapagal Blvd. Brgy. 076 Pasay City 193.

KHAING KHAING OO Myanmari

BURMESE SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

194.

CHEN, SIQI Chinese

MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

195.

DING, KAI Chinese

MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

GAO, YANJI Chinese

MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

199.

LI, CUNXI Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

200.

LI, TAO Chinese

MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

LI, MINGQING Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

201.

TIAN, YE Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

WU, ENEN Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

163.

164.

165.

166.

167.

168.

LIU, WEIWEI Chinese

MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

202.

MA, XUHE Chinese

MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

203.

SHU, TAO Chinese

MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

204.

TIAN, SEN Chinese

MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

205.

WANG, ZEXIN Chinese

MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

ZHANG, PENGFEI Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

206.

ZHAO, WEICHAO Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

207.

WANG, MEINA Chinese

MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

ZHONG, NING Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

208.

WANG, XIAOLONG Chinese

MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

209.

XIA, FUQIN Chinese

MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

XUE, FEILONG Chinese

MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

ZHANG, SHIMING Chinese

MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

ZHUANG, DAHAI Chinese

MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

YANG, NING Chinese

ZHOU, MEIYAO Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

INQUICK SERVICES INC. Unit 606 6/f Itc Bldg. 337 Sen. Gil Puyat Ave. Bel-air Makati City 169.

WANG, FUSHENG Chinese

MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE

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

IT TECHNICAL MANDARIN

276.

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

XU, LIANGFENG Chinese

TU, TAO Chinese

CHINESE CUSTOMER SERVICE

MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

162.

275.

LI, JUNYI Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

161.

IT TECHNICAL MANDARIN

226.

MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

160.

HE, CHAOHUI Chinese

CHINESE IT SUPPORT SPECIALIST

HUANG, ZIHAO Chinese

DUAN, XUFENG Chinese

274.

WU, TONGTONG Chinese

198.

159.

PRIME GREAT COMPUTER TECHNOLOGIES INC. 3/f To 8/f, Nissan Sucat Zentrum Building 8390 Dr. A Santos Avenue Bf Homes Parañaque City

225.

MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

158.

POSITION

CHINESE IT SUPPORT SPECIALIST

HU, DAN Chinese

CHIU, HSI-MEI Taiwanese

FOREIGN NATIONAL / NATIONALITY

WU, HAIYUAN Chinese

197.

BAO, LUWEN Chinese

NO.

183.

INFOVINE INC. 9/f Y Tower, Moa Complex Coral Way Drive Cor. Macapagal Brgy. 076 Pasay City 157.

POSITION

LI, CONGCONG Chinese

196.

WANG, PENG Chinese

ESTABLISHMENT / ADDRESS

FOREIGN NATIONAL / NATIONALITY

SOLUTION MANAGER FOR DITO PHILIPPINES THIRD OPERATOR (PTO) PROJECT

156.

Friday, February 19, 2021 A7

210.

211.

212.

WANG, KANG Chinese

MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

277.

CHANDALA, SAMUEL DOMINGOS Angolan

LIN, QINGHUA Chinese

YANG, PINGGUO Chinese

CONTENT ANALYSTPORTUGUESE

CHINESE CUSTOMER SUPPORT

MARKETING SPECIALIST

279.

HUANG, YINENG Chinese

CUSTOMER SERVICE REPRESENTATIVE

280.

LUO, JIANPING Chinese

CUSTOMER SERVICE REPRESENTATIVE

281.

LY VINH THUNG Vietnamese

CUSTOMER SERVICE REPRESENTATIVE

282.

LYU, HAO Chinese

CUSTOMER SERVICE REPRESENTATIVE

283.

TANG, MING Chinese

CUSTOMER SERVICE REPRESENTATIVE

284.

TANG, QUANYI Chinese

CUSTOMER SERVICE REPRESENTATIVE

CHINESE CUSTOMER SERVICE

285.

WANG, YANLIANG Chinese

CUSTOMER SERVICE REPRESENTATIVE

WIN WIN YEE Myanmari

CHINESE CUSTOMER SERVICE

286.

WEI, HUIKE Chinese

CUSTOMER SERVICE REPRESENTATIVE

242.

WU, LIUXIAN Chinese

CHINESE CUSTOMER SERVICE

287.

YE, LU Chinese

CUSTOMER SERVICE REPRESENTATIVE

243.

WU, CAIHONG Chinese

CHINESE CUSTOMER SERVICE

288.

ZHANG, WENSEN Chinese

CUSTOMER SERVICE REPRESENTATIVE

244.

WU, JIAHAO Chinese

CHINESE CUSTOMER SERVICE

289.

ZHOU, SHITUAN Chinese

CUSTOMER SERVICE REPRESENTATIVE

245.

WU, PENG Chinese

CHINESE CUSTOMER SERVICE

246.

XIE, WEI Chinese

CHINESE CUSTOMER SERVICE

SAMSUNG SDS GLOBAL SCL PHILIPPINES CO., LTD. INC. 2001 Trade & Financial Tower 32nd St. Cor. 7th Ave. Bonifacio Global City Fort Bonifacio Taguig City

247.

XU, XINGGE Chinese

CHINESE CUSTOMER SERVICE

248.

YANG, ZAIJIANG Chinese

CHINESE CUSTOMER SERVICE

249.

YANG, KAILIANG Chinese

CHINESE CUSTOMER SERVICE

250.

YE LIN TUN Myanmari

CHINESE CUSTOMER SERVICE

SINOMA CBMIPH CONSTRUCTION CORPORATION 37b Rufino Pacific Tower Ayala Ave. Cor. V.a. Rufino St. San Lorenzo Makati City

251.

YU, XIAODONG Chinese

CHINESE CUSTOMER SERVICE

292.

252.

ZHANG, YUTAO Chinese

CHINESE CUSTOMER SERVICE

253.

ZHANG, SHIZONG Chinese

CHINESE CUSTOMER SERVICE

SKY DRAGON GLOBAL TECHNOLOGIES CORP. 2f-5f Unit 710 Shaw Blvd. Global Link Center, Brgy. Wack Wack Mandaluyong City

254.

ZHENG, YUHANG Chinese

CHINESE CUSTOMER SERVICE

255.

PENG, YIBO Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

256.

YU, WENBIN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

257.

ZHU, JUNJIE Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

THINK TANK SOFTWARE LAB DEVELOPMENT CORPORATION 4/f Cambridge Center Bldg. 108 Tordesillas Cor. Gallardo Sts. Bel-air Makati City

258.

CHANG CHOON KIAT Malaysian

MALAYSIAN CUSTOMER SERVICE REPRESENTATIVE

296.

259.

ONG SIAOW CHIEN Malaysian

MALAYSIAN CUSTOMER SERVICE REPRESENTATIVE

260.

SAI WIN AUNG Myanmari

MYANMARI CUSTOMER SERVICE REPRESENTATIVE

290.

NEW ORIENTAL CLUB88 CORPORATION 1331 Pearl Plaza Bldg. Quirino Ave. Tambo Parañaque City 261.

CHEN, WEIQIANG Chinese

CHINESE CUSTOMER SERVICE

262.

CHEN, KUN Chinese

CHINESE CUSTOMER SERVICE

263.

CHEN, WENWEN Chinese

CHINESE CUSTOMER SERVICE

264.

HE, HONGTING Chinese

CHINESE CUSTOMER SERVICE

265.

LI, ZHIJUN Chinese

CHINESE CUSTOMER SERVICE

266.

LIU, YONGCHENG Chinese

CHINESE CUSTOMER SERVICE

267.

MO, BITANG Chinese

CHINESE CUSTOMER SERVICE

CHOI, SUNGHO South Korean

MANAGING DIRECTOR

SHIMIZU PHILIPPINE CONTRACTORS, INC. King’s Court Bldg. 1 5/f 2129 P. Tamo St. San Lorenzo Makati City 291.

MIKI, KANTA Japanese

MA, BAOBING Chinese

AREA MANAGER

MANDARIN PROJECT DEVELOPMENT MANAGER

293.

TANG, ZHIKANG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

294.

YAO, SHILIANG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

295.

MA, SHUNMING Chinese

CHINESE RESEARCH ANALYST

EMPL, THOMAS Austrian

CONSULTANT

VAN GOGH BUSINESS PROCESS OUTSOURCING INC. 5th To 8th Flr. Sm Southmall Tower 2 Alabang Zapote Rd. Almanza Uno Las Piñas City 297.

TAN, CHUANJIANG Chinese

INFORMATION SECURITY ANALYST

298.

ZHAO, YUE Chinese

INFORMATION SECURITY ANALYST

W.E.W RESOURCE MANAGEMENT, INC. 50/f Pbcom Tower 6795 Ayala Ave. Cor. V.a. Rufino St. Bel-air Makati City 299.

GUAN, KAIYAO Chinese

MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE

WORLD MEDICAL RELIEF-PHILIPPINE NATIONAL BUSINESS AND COORDINATION CENTER FOUNDATION, INC. 14-d 14/f Ocean Tower Condo. Roxas Blvd. 077, Bgy. 701 Malate Manila

170.

CHEN, JUNHAO Chinese

CHINESE IT SUPPORT SPECIALIST

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

171.

CHEN, JIAPENG Chinese

CHINESE IT SUPPORT SPECIALIST

213.

ARR TONE Myanmari

CHINESE CUSTOMER SERVICE

172.

CHEN, YUTING Chinese

CHINESE IT SUPPORT SPECIALIST

214.

CHAU VAN DUONG Vietnamese

CHINESE CUSTOMER SERVICE

173.

DIAO, XINGHAO Chinese

CHINESE IT SUPPORT SPECIALIST

215.

CHENG, CONG Chinese

CHINESE CUSTOMER SERVICE

268.

SONG, JIAJUN Chinese

CHINESE CUSTOMER SERVICE

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.

174.

LI, YANG Chinese

CHINESE IT SUPPORT SPECIALIST

216.

CUI, HAILONG Chinese

CHINESE CUSTOMER SERVICE

269.

WU, YUWAN Chinese

CHINESE CUSTOMER SERVICE

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

175.

LIU, SHIHUI Chinese

CHINESE IT SUPPORT SPECIALIST

217.

DAVID INDRAMULJO Indonesian

CHINESE CUSTOMER SERVICE

270.

XUE, LONGFEI Chinese

CHINESE CUSTOMER SERVICE

176.

LIU, GANG Chinese

CHINESE IT SUPPORT SPECIALIST

218.

GAO, FENG Chinese

CHINESE CUSTOMER SERVICE

271.

YU, BILIAN Chinese

CHINESE CUSTOMER SERVICE

177.

LYU, HUAN Chinese

CHINESE IT SUPPORT SPECIALIST

219.

HOANG VAN HUNG Vietnamese

CHINESE CUSTOMER SERVICE

272.

ZHENG, RUI Chinese

CHINESE CUSTOMER SERVICE

178.

PENG, XUEJIANG Chinese

CHINESE IT SUPPORT SPECIALIST

220.

HUANG, LIN Chinese

CHINESE CUSTOMER SERVICE

273.

YONE HWAR Myanmari

MYANMARI CUSTOMER SERVICE

300.

XU, SHIZHONG Chinese

EXECUTIVE ASSISTANT *Date Generated: Feb 18, 2021

ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

Friday, February 19, 2021

The World BusinessMirror

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

Anti-coup protests spread in Myanmar amid UN warning of violent crackdown

ANGON, Myanmar—Tens of thousands of demonstrators flooded the streets of Myanmar’s biggest city on Wednesday, in one of largest protests yet of a coup, despite warnings from a human rights expert that recent troop movements could indicate the military was planning a violent crackdown.

In Yangon, protesters marched carrying signs calling for ousted leader Aung San Suu Kyi to be released from detention, while others feigned car trouble, strategically abandoning their vehicles—and leaving the hoods up—to prevent security forces from easily accessing the demonstrations. Large rallies were also held in the country’s secondbiggest city, Mandalay, and the capital of Naypyitaw, in defiance of an order banning gatherings of five or more people. One motorist, who spoke on condition of anonymity because he feared being targeted, explained tongue-in-cheek that his car had broken down “ due to the suffering that our people are undergoing now. We just stopped the cars here on the road to show that we do not want the militar y regime.” The demonstrations came a day after—rapporteur Tom Andrews expressed alarm at reports of soldiers being transported into Yan-

World’s $281-t debt seen rising again in 2021

he world has never been more indebted after a year of battling Covid-19. And there’s even more borrowing ahead. Governments, companies and households raised $24 trillion last year to offset the pandemic’s economic toll, bringing the global debt total to an all-time high of $281 trillion by the end of 2020, or more than 355 percent of global GDP, according to the Institute of International Finance. They may have little choice but to keep borrowing in 2021, said Washington-based director of sustainability research Emre Tiftik and economist Khadija Mahmood. Even as vaccines are rolled out, low central bank policy rates are keeping issuance above pre-pandemic levels. Governments with big budget deficits are set to increase debt by another $10 trillion this year as political and social pressures make it hard to curb spending, pushing this group’s debt load past $92 trillion by end-2021, the IIF estimates. “The most important challenge is to find a well-designed exit strategy from these extraordinary fiscal measures,” Tiftik said during a Wednesday webinar. Both mature and emerging markets will be searching for a perfect balance. While an economic recovery may lead some governments to start developing strategies to roll back stimulus, doing so too soon could magnify default and bankruptcy risk. But waiting too long could lead to unwieldy debt loads. Even amid historically muted credit spreads, global debt markets have started selling off, pushing up sovereign yields. Long-term US Treasury yields reached the highest in about a year this week. Bloomberg News

gon, noting that such movements had previously preceded killings, disappearances and mass arrests. “I am terrified that given the confluence of these two developments—planned mass protests and troops converging—we could be on the precipice of the military committing even greater crimes against the people of Myanmar,” he said in a statement issued by the—Human R ights office in Geneva. By Wednesday evening, there had been no reports of major violence at the protests. However, residents of Mandalay reported hearing gunshots about an hour after the start of the nightly curfew at 8 p.m. as dozens of police and soldiers roamed a neighborhood with housing for state railway workers. There have been similar reports of gunshots and other aggressive actions in several cities since last week—apparently part of attempts to intimate people rather than cause injury. Railway work-

Demonstrators gather in an intersection close to Sule Pagoda to protest against the military coup in Yangon, Myanmar on February 17. Demonstrators in Myanmar gathered Wednesday in their largest numbers so far to protest the military’s seizure of power, even after a UN human rights expert warned that troops being brought to Yangon and elsewhere could signal the prospect of major violence. AP

ers could be targets because they have declared their support for the protest movement and carried out work stoppages. The military seized power on February 1, the day newly elected parliamentarians were supposed to take their seats—a shocking backslide for a country that had been taking tentative steps toward democracy. The junt a sa id t he t a k e o ve r w a s ne ces s a r y because Suu Ky i ’s gover nment had fa i led to invest igate f raud c l a ims in elect ions her pa r t y won in a l a nd sl ide; t he election commission has dismissed t hose c l a ims. The high protest turnout came a day after junta leaders had declared that the demonstrations were dying down—and Kyi Pyar, a former lawmaker from Suu Kyi’s

party, said that dismissal only served to spur on the resistance. “This upset the people,” she said. “We are not weak, we will never step back in the fight against the military regime. So we are back on the street again.” In Naypyitaw, thousands of people, including private bank employees and engineers, marched down the city’s wide boulevards, chanting for the release of Suu Kyi and President Win Myint. Protesters also poured into the streets of Mandalay, where ea rl ier i n t he week sec u r it y forces pointed g uns at demonstrators and attacked them with slingshots and sticks. Local media reported that several people were injured. The marches have been organized as part of a civil disobedience

m o v e m e nt , s p e a r h e a d e d b y med ic a l workers a nd suppor t e d b y m a ny c i v i l s e r v a nt s . Police filed a new charge against Suu Kyi, her lawyer said Tuesday, a move likely to keep her under house arrest and further fuel public anger. It was the second charge against Suu Kyi—the first for illegally possessing walkie-talkies, the second for an alleged violation of coronavirus restrictions—both apparent attempts to provide a legal veneer for her detention. S t at e t e l e v i s i o n a l s o a n nou nced c h a rges Wed nesd ay against several prominent entertainers, including actors and directors, who have a l l been publicly supportive of the protests against the coup. T hey were charged under a law that penalizes those who act in a manner intended to hinder or prevent members of the military and government employees from carr ying out their duties. T he enter t a iners were ap pa rent ly acc used of induc ing c iv i l ser va nts to wa l k of f t he j ob — a nd t he mo v e re f l e c t s t he ju nt a’s concer n about t he w idespread a nd increasing involvement of c iv i l ser va nts in t he protests. On Tuesday night, the military for a third day in a row ordered an Internet blackout—almost entirely blocking online access from 1 a.m. to 9 a.m. W hile the militar y did not say why the Internet was being blocked, there is w idespread speculation that the gover nment is insta l ling a f irewa l l system to allow it to monitor or block online activity. AP

Global Covid infections drop to slowest pace since October

l m o s t a year after the World Health Organization declared the coronavirus a pandemic, there are some encouraging signs as new global infections fall sharply. Fresh Covid-19 cases for the week e n d e d Fe b ru a r y 1 4 we re t h e l owe s t since October, at 2.7 million, according to data from Johns Hopkins University. That resulted in a 2.5 percent increase in total infections from the previous week, the weakest gain since the start of the pandemic and less than half the rate seen a month earlier. The death toll is also beginning to ease, yet at a less dramatic pace. Daily fatalities have averaged less than 10,000 over the past five days, down from a peak of more than 18,000 in mid-January. It’s too early to count vaccines as a major reason for the improvement in the data, and some of the trend may partly reflect lower testing because of holidays and severe winter storms in the US. But it’s clear that social-distancing behavior and lockdown efforts around the world are helping to keep down the numbers. Of course, it’s also too soon to declare a victory against the coronavirus. Variants— those already identified as well as others that may emerge—present a very real threat to the recovery, and could send infections climbing once again. Health officials are warning against complacency. Global herd immunity is years away, according to some calculations, and so is the revival of longhaul travel. Two factors will likely help keep cases and deaths lower in the months ahead. The first is the coming of spring in the Northern Hemisphere, as the virus tends to be less active during warmer weather. The other is that the biggest vaccination campaign in history is just getting started. Already, more than 186 million shots have been administered across 82 countries, and more regions are set to start inoculations in coming weeks. Bloomberg News

Power outages linger for millions UN chief eyes urgent global plan to reverse unfair vaccine access in US as another icy storm looms U A

USTIN, Texas—Millions of Americans endured another frigid day without electricity or heat in the aftermath of a deadly winter storm as utility crews raced to restore power before another blast of snow and ice sowed more chaos in places least equipped to deal with it. Nearly 3.4 million customers around the US were still without electricity, and some also lost water service. Texas officials ordered 7 million people—a quarter of the population of the nation’s second-largest state—to boil tap water before drinking it following days of record low temperatures that damaged infrastructure and froze pipes. The latest storm front was certain to complicate recovery efforts, especially in states that are unaccustomed to such weather—parts of Texas, Arkansas and the Lower Mississippi Valley. “There’s really no letup to some of the misery people are feeling across that area,” said Bob Oravec, lead forecaster with the National Weather Service, referring to Texas. The system was forecast to move into the Northeast on Thursday. More than 100 million people live in areas covered by some type of winter weather warning, watch or advisory, the weather service said. This week’s extreme weather has been blamed for the deaths of more than 30 people, some of whom perished while struggling to keep warm inside their homes. In the Houston area, one family succumbed to carbon monoxide from car exhaust in their garage. Another family died while using a fireplace to keep warm. Weather-related outages have been particularly stubborn in Oregon, where some customers have been without power for almost a week. The worst US outages by far have been in Texas, where 3 million homes and businesses remained without power as of midday Wednesday. More than 200,000 additional customers were in the dark in four Appalachian states, and nearly that many in the Pacific Northwest, according to poweroutage.us, which tracks utility outage reports.

The president of the Texas power grid manager, the Electric Reliability Council of Texas, said he hoped many customers would see at least partial service restored by later Wednesday or Thursday. Dashawn Walker, 33, was thrilled to find the power back on in his Dallas apartment. He stayed at a suburban hotel Tuesday night after being without power since Sunday, but said he was charged $474 for one night. “It’s crazy,” Walker said. “I mean why would y’all go up on the hotels in the middle of a crisis?” Water pressure has fallen across the state because lines have frozen, and many residents are leaving faucets dripping in hopes of preventing pipes from freezing, said Toby Baker, executive director of the Texas Commission on Environmental Quality. Texas Gov. Greg Abbott urged residents to shut off water to their homes, if possible, to prevent more busted pipes and preserve pressure in municipal systems. The outages in and around Portland, Oregon, affected nearly 150,000 customers nearly a week after a massive snow and ice storm toppled many trees and took out hundreds of miles of power lines. The damage to the power system was the worst in 40 years, said Maria Pope, CEO of Portland General Electric. At the peak of the storm, more than 350,000 customers in the Portland area were in the dark. “These are the most dangerous conditions we’ve ever seen in the history of PGE,” said Dale Goodman, director of utility operations, who declined to predict when all customers would have power restored. Utilities from Minnesota to Texas implemented rolling blackouts to ease the burden on strained power grids. The Southwest Power Pool, a group of utilities covering 14 states, said the blackouts were “a last resort to preserve the reliability of the electric system as a whole.” The weather also disrupted water systems in several Southern cities, including in New

Orleans and Shreveport, Louisiana, where city fire trucks delivered water to several hospitals, and bottled water was being brought in for patients and staff, Shreveport television station KSLA reported. Power was cut to a New Orleans facility that pumps drinking water from the Mississippi River. A spokesman for the Sewerage and Water Board said on-site generators were used until electricity was restored. In the southwest Louisiana city of Lake Charles, Mayor Nic Hunter said Wednesday that water reserves remained low and local hospitals were faced with the possibility they might have to transfer patients to other areas. Travel remains ill-advised in much of the United States, with roadways treacherous and thousands of flights canceled. Many school systems delayed or canceled face-to-face classes. But staying home carried risks too in places without power. Authorities said a fire that killed three young children and their grandmother in the Houston area likely was caused by the fireplace they were using to keep warm. In Oregon, authorities confirmed Tuesday that four people died in the Portland area of carbon monoxide poisoning. The crisis also produced stories of kindness. In Clinton, Mississippi, Army veteran Evelyn Fletcher has been cooking and delivering meals to sidelined truck drivers, travelers and people staying at hotels after losing power at home. “They’re stranded, they’re isolated—people are in need of support right now,” Fletcher said. On Monday, Fletcher made 85 meals. On Tuesday, she made 30 plates, while a local restaurant, T’Beaux ’s Crawfish and Catering, cooked 75 plates of shrimp and gumbo that she and other volunteers delivered. And on Wednesday, Fletcher was cooking a pot of turkey noodle soup, hoping to deliver another 70 meals. “People are worried about more snow,” she said. “We are going to keep people fed and keep them feeling hopeful.” AP

NITED NATIONS—UN Secretary-General Antonio Guterres sharply criticized the “wildly uneven and unfair” distribution of Covid-19 vaccines on Wednesday, saying 10 countries have administered 75 percent of all vaccinations and demanding a global effort to get all people in every nation vaccinated as soon as possible. The UN chief told a high-level meeting of the UN Security Council that 130 countries have not received a single dose of vaccine and declared that “at this critical moment, vaccine equity is the biggest moral test before the global community.” Guterres called for an urgent Global Vaccination Plan to bring together those with the power to ensure equitable vaccine distribution—scientists, vaccine producers and those who can fund the effort. And he called on the world’s major economic powers in the Group of 20 to establish an emergency task force to establish a plan and coordinate its implementation and financing. He said the task force should have the capacity “to mobilize the pharmaceutical companies and key industry and logistics actors.” G u t e r r e s s a i d F r i d a y ’s m e e t i n g o f the Group of Seven major industrialized nations—the United States, Germany, Japan, Britain, France, Canada and Italy—“can create the momentum to mobilize the necessary financial resources.” Thirteen ministers addressed the virtual council meeting organized by Britain on improving access to Covid-19 vaccinations, including in conflict areas. The coronavirus has infected more than 109 million people and killed at least 2.4 million of them. As manufacturers struggle to ramp up production of vaccines, many countries complain of being left out and even rich nations are facing shortages and domestic complaints. The World Health Organization’s COVAX program, an ambitious project to buy and deliver coronavirus vaccines for the world’s poorest people, has already missed its own goal of beginning coronavirus vaccinations in poor countries at the same time that shots were rolled out in rich countries. WHO says COVAX needs $5 billion in 2021. US Secretary of State Antony Blinken told

the council the Biden administration “will work with our partners across the globe to expand manufacturing and distribution capacity and to increase access, including to marginalized populations.” President Joe Biden has rejoined the WHO and Blinken announced that by the end of February the United States will pay over $200 million in previously assessed and current obligations to the UN agency, which Washington will seek to reform. America’s top diplomat said the US also plans to provide “significant financial support” to COVAX through the GAVI vaccine alliance, and will work to strengthen other multilateral initiatives involved in the global Covid-19 response. He gave no details. China’s Foreign Minister Wang Yi criticized the growing “immunity divide” and called on the world to “come together to reject “vaccine nationalism,” promote fair and equitable distribution of vaccines, and, in particular, make them accessible and affordable for developing countries, including those in conflict.” At WHO’s request, he said, China will contribute 10 million doses of vaccines to COVAX “preliminarily.” China has donated vaccines to 53 developing countries including Somalia, Iraq, South Sudan and Palestine, which is a UN observer state. It has also exported vaccines to 22 countries, he said, adding that Beijing has launched research and development cooperation on Covid-19 with more than 10 countries. I n d i a ’s E x t e r n a l A f f a i r s M i n i s t e r Subrahmanyam Jaishankar also called for a halt to “vaccine nationalism” and encouragement for internationalism. “Hoarding superfluous doses will defeat our efforts towards attaining collective health security,” he warned. Jaishankar said India has been at the forefront of the global fight against the Co v i d - 1 9 p a n d e m i c, i n i t i a l l y p ro v i d i n g medicine, ventilators and personal protective equipment and now directly sending madein-India vaccines to 25 nations across the world, with 49 additional countries from Europe and Latin America to Africa, Southeast Asia and the Pacific Islands slated to receive vaccines “in the coming days.” AP

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Russian embassy exec vouches for safety, efficacy of Sputnik V for PHL’s vaccination program By Jovee Marie N. Dela Cruz @joveemarie

HE Russian Embassy in the Philippines on Thursday vouched for the safety and efficacy of their Sputnik V vaccine for Covid-19 and vowed full cooperation with the government for its application for emergency use authorization (EUA). During a hearing of the House Committee on People’s Participation, Deputy Chief of Mission of the Russian Federation Embassy Vladlen Epifanov said the Russian vaccine has gained widespread approval. He said Sputnik V is now being used to inoculate citizens in 29 countries all over the world and is now being manufactured in several countries like India, Brazil and South Korea through the Russian Direct Investment Fund (RDIF) to ensure sufficient production. Epifanov said the Philippines may avail of the RDIF to enable at least one-third to one-half of its population to be inoculated for Covid-19 using Sputnik V. If approved this February, he added, the first doses will be made available as early as April this year. “The results of the clinical trial Phase 3 conducted last year showed its very high safety and efficacy rate which has been recognized by the very respectable British Lancet medical journal. As far as its efficacy, it goes up to 91.6 percent and

volunteers of 60 [years of age] and up is a little bit higher [at] 91.8 percent. 98 percent of those vaccinated developed good immune response,” Epifanov mentioned. The House panel, chaired by San Jose Del Monte Bulacan Rep. Florida Robes, has been conducting a series of meetings on the development of vaccine for Covid-19 since last year when Russia approved Sputnik, the first vaccine approved against Covid-19, to facilitate efforts to bring it to the Philippines. Epifanov added that the Sputnik V has neither side effects nor trigger allergic reactions and even provides immunity to the new more aggressive strains of Covid-19. For his part, Food and Drug Administration (FDA) Director General Eric Domingo said they are just awaiting for the several authorization documents from Gamaleya Research Institute, manufacturer of Sputnik V, before they could stamp their approval to its EUA application. He said they need the authorization of its local agents to sign papers on behalf of Gamaleya and the Good Manufacturing Practice certification to assure the consistency of the product. He said a Philippine team is ready to go to Russia to conduct an inspection of the Gamaleya factory in Russia. Domingo added that the Department of Science and Technology (DOST) vaccine panel is also conducting some fine-tuning on whether the vaccine, which uses the adenovirus

5 as vectors as expressions for the severe Covid-19 protein, may have lower efficacy since many Filipinos have become infected with adenovirus 5 in the past. “The DOST would want to know since many Filipinos have had this adenovirus 5 and whether we already have antibodies to it because it is possible that if Filipinos have it, the efficacy will be lowered. But its efficacy is still very high at 90 percent and above. There is just fine-tuning,” he explained. Epifanov, for his part, vowed to facilitate the visa applications of those scheduled to go to Russia for the inspection, as well as other documentations needed to secure Sputnik V’s EUA approval the soonest possible time. Meanwhile, Robes expressed her gratitude to the FDA and the Russian Embassy for their active participation in the meeting as he noted their commitment to fast track efforts not only to decide on the application of Sputnik V but other vaccines as well. “We are favored with the readiness of the Russian Direct Investment Fund, and the Russian government in general, to start the Russian coronavirus vaccine supplies to the Philippines immediately after the national regulator gives its approval for emergency use. Undeniably, the success of the Covid-19 vaccination program in the Philippines is also hinged on the stockpile of countries and companies at the forefront of developing the vaccines,” Robes said.

Other side of pandemic: Covid ups health awareness of most Pinoys, survey shows The Philippines remains one of the most under-insured markets in the region, but technology is enabling more Filipinos to get the protection they need. We also see insurance customers in the Philippines very willing to manage their insurance through digital platforms, having recognized that those channels are secure, simple and convenient.

President and CEO of Manulife Philippines Richard Bates By Cai U. Ordinario @caiordinario

T took a pandemic for Filipinos to become more health-conscious, at least that’s what the recent Manulife Asia Care Survey results showed. In a news statement, Manulife said almost all Filipino respondents at 99 percent said they took action to help them manage Covid-19. Majority or 69 percent said this included doing more regular physical exercises, while 61 percent said they improved their diet. The Philippine results were both above the Asian average. Manulife said in Asia, nearly all or 95 percent of those across the region who worry most about Covid-19 have made an effort on a personal level to improve their overall health through more regular exercise at 58 percent and improved diet at 54 percent. “We see that the pandemic has turned the spotlight on health and retirement for many Filipinos,” said Richard Bates, president and CEO, Manulife Philippines. “Amid all the uncertainty, they are finding ways to take more control of these aspects of their lives.” The data also showed that in the Philippines, around 97 percent are self-monitoring their health with three quarters or 75 percent tracking their body weight. The numbers are lower in Asia with 92 percent of respondents in the re-

gion tracking their health and fitness, including body weight, sleep quality, blood pressure, heartbeat and steps. Filipinos also monitored their sleeping quality and blood pressure in equal measure at 62 percent, above the regional average of 51 percent and 47 percent, respectively. About a third of Filipinos or 36 percent are also monitoring the number of steps they have taken. In addition, two out of five or 40 percent of the Filipinos surveyed own fitness wearables, compared to a regional average of 46 percent. Meanwhile, Manulife said aligned with taking better control of health and finance is an interest to buy new insurance. In the Philippines, almost 9 out of 10 or 87 percent said they intend to buy new insurance in the next six months, higher than anywhere else in the region except Vietnam at 91 percent. The regional average is 71 percent. The survey results showed that Filipino respondents were interested in health, hospitalization and life cover, while also interested in investing in retirement and their children’s education. Nearly three quarters or 70 percent of Filipino respondents said they prefer to manage their policies through digital means such as mobile apps, including for claims and payment. The survey also showed that 53 percent of these respondents had spoken to

an agent about purchasing insurance, a relatively high percentage but below the regional average of 64 percent. “The Philippines remains one of the most under-insured markets in the region, but technology is enabling more Filipinos to get the protection they need. We also see insurance customers in the Philippines very willing to manage their insurance through digital platforms, having recognized that those channels are secure, simple and convenient,” Bates said. “At the same time, it’s clear that many still like to speak to their agents. So, while the trend going forward looks to be more digital, having agents and an omnichannel approach is the way of the future. It’s one that integrates digital, while drawing on human empathy, trust and a holistic understanding of our customers’ needs,” he added. Further, data showed that 90 percent of Filipino respondents, more than anywhere else in the region, said retirement planning has become more important since Covid-19 started, well above the region wide average of 73 percent. This high level of interest in retirement is evident, despite the fact that Filipinos surveyed were the least concerned in the region about a decline in personal wealth at 20 percent as a result of Covid-19 while the regional average is 42 percent. However, Manulife said the interest in retirement does reflect their increased focus on achieving financial security amid uncertainty. The Manulife Asia Care Survey was conducted via online self-completed questionnaires in eight markets, namely, Mainland China, Hong Kong, Indonesia, Japan, Malaysia, Philippines, Singapore and Vietnam. A total of 3,946 people, aged 25 years old or above, was surveyed in November 2020. In the Philippines, 519 people were surveyed. They included insurance owners and those who did not own insurance but intended to buy it in the next six months.

A10 Friday, February 19, 2021 • Editor: Angel R. Calso

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Biden’s China confusion

arold Isaacs was an American political scientist who wrote Scratches on our Minds: American Images of China and India in 1955. He identified six stages of American attitudes toward China. During the founding of the US there was “respect.” This was followed by “contempt” (1840–1905); “benevolence” (1905-1937); “admiration” (1937–1944); “disenchantment” (1944–1949); and “hostility” (after 1949). In 1990, historian Jonathan Spence updated Isaac’s model to include “reawakened curiosity” (1970–1974); “guileless fascination” (1974–1979); and “renewed skepticism” (1980s). As we start the third decade of the 21st century, we would call it “fearful confusion.” During the four years of the Trump administration, there seemed to be a hardline policy toward China as with the trade sanctions. Yet at the same time, the US knew that in any negotiations with North Korea, China would always be a key player. But with the new Biden administration, we may be returning to the “bad old days”—at least for the Philippines—of 2012. In April 2012, eight Chinese fishing vessels anchored in Panatag (Scarborough) shoal. The US mediated a deal whereby both China and the Philippines promised to withdraw their forces from the shoal. The Philippines complied with the “agreement” and withdrew. China did not. The US did nothing. American diplomat John Roos wrote: “Diplomacy is fundamentally working with people, bringing people together to deal with difficult issues.” American humorist and newspaper columnist Will Rogers wrote, “Diplomacy is the art of saying ‘Nice doggie’ to a snarling dog until you can find a rock.” During his presidential campaign in 2019, candidate Joseph Biden explained why he believed that concerns that China could eventually surpass the US as a world power and economic force were overstated. “China is going to eat our lunch? Come on, man. I mean, you know, they’re not bad folks. But guess what? They’re not competition for us.” Last week, during a televised Presidential Town Hall meeting, Biden warned that China will “eat our lunch” after speaking with Chinese President Xi Jinping for the first time since becoming president. That is only a US problem. This is not (more from Biden on his conversation with Xi Jinping): “And so the idea is, that I am not going to speak out against what he’s doing in Hong Kong, what he’s doing with the Uighurs in western mountains of China, trying to end the one China policy, by making it forceful… [Xi] gets it. Culturally there are different norms that each country and their leaders are expected to follow.” Both former US Secretary of State Mike Pompeo and current Secretary Antony Blinken publicly agreed that China’s treatment of its Uighur and Muslim minority populations is genocide. But apparently to the US president, China’s policies are subject to interpretation based on a nation’s individual “cultural norms.” And besides, “Xi gets it,” whatever that means. The White House said that Biden voiced concerns over China’s crackdown in Hong Kong and treatment of Muslims. But they made no mention of Biden’s televised remarks that “if you know anything about Chinese history, it has always been, the time when China has been victimized by the outer world is when they haven’t been unified at home,” going on to say that President Xi Jinping is aiming to achieve a “tightly controlled China.” Apparently, that is a good thing. The way it is starting, it is going to be a long four years weathering the US position on China. Since 2005

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Lost opportunities and the youth Sonny M. Angara

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ast week, we wrote about the myriad ways the ongoing Covid-19 pandemic has made our youth even more vulnerable than before. Over the past year, this was manifested in increasing cases of online sexual exploitation of children (OSEC); teenage pregnancies; failure to enroll and the possible ballooning of out-ofschool youth; and reported difficulties with the current blended system of learning. These are no small issues, and they demand no less than immediate attention and action from both the private sector and the government. However, it appears the pandemic is imperiling the lives of our young people in even more profound, almost existential, ways. And that relates to the prospects they face of enjoying a better, and brighter future, which unfortunately the pandemic has made dimmer than before. An August 2020 joint report by the International Labor Organization (ILO) and the Asian Development Bank (ADB) highlighted how

the pandemic has caused massive disruptions (reduced working hours or layoffs) particularly in the jobs of young people (15 to 24 years old) in Asia and Pacific. Nearly half of young workers in the region (a little more than 100 million) were employed in four sectors that were hit hardest by the ensuing slowdown—namely wholesale and retail trade and repair; manufacturing; rental and business services; and accommodation and food service. And given the low job tenure of young people, they were more likely to be laid off completely, rather than

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was experienced during previous crises, the ILO-ADB report pointed out that young people who enter the job market during recessions often have to contend with diminished earnings and wages. And often, youth who’ve faced problems early in their schoolto-work transition find it difficult to transition into better, higher-paying forms of employment. The findings of the ILO-ADB report resonate with the World Economic Forum’s (WEF) recent diagnosis that a doubly lost generation of youth is emerging as the pandemic has brought about an age of lost opportunity. In its recent Global Risks Report 2021, the WEF highlighted that the young adults of today—dubbing them as “Pandemials”—are experiencing their second major global crisis in a decade, and hence, will be facing serious challenges to their education and economic prospects, as well as their mental health. According to the WEF report, more than one-third of respondents to the 2021 Global Risk Perceptions Survey (GRPS) have identified “youth disillusionment” as a clear and present danger, saying it is one risk that is being largely neglected by the global community, but one that can become See “Angara,” A11

Why the power grid failed in Texas and beyond By David Koenig And Michael Liedtke | Associated Press

ALLAS—The power outages tormenting Texas in uncharacteristically Arctic temperatures are exposing weaknesses in an electricity system designed when the weather’s seasonal shifts were more consistent and predictable—conditions that most experts believe no longer exist.

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be placed on temporary job suspension. At the same time, four out of five young people in the region were also working in informal and insecure jobs before the pandemic, which made them particularly more vulnerable to job and income losses once the lockdowns ensued. These job losses coincided with school closures, which affected almost 90 percent of students worldwide in April 2020, and disruptions to work-based training and certifications. For instance, citing a survey of 183 firms operating in the Philippines, the ILO-ADB report said that up to three-quarters of firmlevel apprenticeships and internships were completely interrupted because of the pandemic. This, in turn, prompted a majority of the firms to discontinue giving wages and stipends to apprentices and interns. Such interruptions to learning effectively set the youth back, and open the opportunity for them to be forced into more precarious (i.e. low-paying, informal) forms of work. Even the youth who’ve finished their schooling will be facing problems, as they will have to deal with fierce competition for scarce jobs, given that the economic slowdown has led to fewer vacancies. Citing what

This isn’t just happening in Texas, of course. Utilities from Minnesota to Mississippi have imposed rolling blackouts to ease the strain on electrical grids buckling under high demand during the past few days. And power outages have become a rite of summer and autumn in California, partly to reduce the chances of deadly wildfires. But the fact more than 3 million bone-chilled Texans have lost their electricity in a state that takes pride in its energy independence underscores the gravity of a problem that is occurring in the US with increasing frequency.

What happened in Texas?

Plunging temperatures caused Texans to turn up their heaters, including many inefficient electric ones. Demand spiked to levels normally seen only on the hottest summer days, when millions of air conditioners run at full tilt. The state has a generating capacity of about 67,000 megawatts in the winter compared with a peak capacity of about 86,000 megawatts in the summer. The gap between the winter and summer supply reflects power

plants going offline for maintenance during months when demand typically is less intense and there’s not as much energy coming from wind and solar sources. But planning for this winter didn’t imagine temperatures cold enough to freeze natural gas supply lines and stop wind turbines from spinning. By Wednesday, 46,000 megawatts of power were offline statewide—28,000 from natural gas, coal and nuclear plants and 18,000 from wind and solar, according to the Electric Reliability Council of Texas, which operates the state’s power grid. “Every one of our sources of power supply underperformed,” Daniel Cohan, an associate professor of civil and environmental engineering at Rice University in Houston, tweeted. “Every one of them is vulnerable to extreme weather and climate events in different ways. None of them were adequately weatherized or prepared for a full realm of weather and conditions.” The staggering imbalance between Texas’ energy supply and demand also caused prices to skyrocket from roughly $20 per megawatt hour to $9,000 per megawatt hour

in the state’s freewheeling wholesale power market. That raised questions whether some power generators who buy in the wholesale market may have had a profit motive to avoid buying more natural gas and simply shut down instead. “We can’t speculate on people’s motivations in that way,” said Bill Magness, CEO of ERCOT. He added he had been told by generators that they were doing everything possible to provide power.

Why wasn’t the state prepared?

Gas-fired plants and wind turbines can be protected against winter weather—it’s done routinely in colder, northern states. The issue arose in Texas after a 2011 freeze that also led to power-plant shutdowns and blackouts. A national electric-industry group developed winterization guidelines for operators to follow, but they are strictly voluntary and also require expensive investments in equipment and other necessary measures. An ERCOT official, Dan Woodfin, said plant upgrades after 2011 limited shutdowns during a similar cold snap in 2018, but this week’s weather was “more extreme.” Ed Hirs, an energy fellow at the University of Houston, rejected ERCOT’s claim that this week’s freeze was unforeseeable. “That’s nonsense,” he said. “Every eight to 10 years we have really bad winters. This is not a surprise.” In California, regulators last week ordered the state’s three ma-

jor utilities to increase their power supply and potentially make plant improvements to avoid another supply shortage like the one that cropped up in California six months ago and resulted in rolling blackouts affecting about 500,000 people for a few hours at a time. “One big difference is that leadership in California recognizes that climate change is happening, but that doesn’t seem to be the case in Texas,” said Severin Borenstein, a professor of business administration and public policy at the University of California, Berkeley who has been studying power supply issues for more than 20 years.

Why the need for rolling blackouts?

Grid operators say rolling blackouts are a last resort when power demand overwhelms supply and threatens to create a wider collapse of the whole power system. Usually, utilities black out certain blocks or zones before cutting off power to another area, then another. Often areas with hospitals, fire stations, water-treatment plants and other key facilities are spared. By rolling the blackouts, no neighborhoods are supposed to go an unfairly long period of time without power, but that was not always the case this week in Texas. Some areas never lost power, while others were blacked out for 12 hours or longer as temperatures dipped into the single digits.

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Getting ready to loosen up Commemorating not our histories Alvin Ang

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eda has proposed that the country be put into the more lenient quarantine level—modified general community quarantine—by March. This proposal makes a lot of sense considering that the country is limited in bringing back business and consumer confidence as result of the restrictions. As data of cross country performance in 2020 are now mostly out, we find that the long quarantine restrictions have weakened confidence significantly that the country’s economic decline was the deepest among the Asean 6 (Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam). Secretary Ramon Lopez of the Department of Trade and Industry is in the right direction in saying that we are not recovering faster than our neighbors. Comparing the country’s performance in the last quarter of 2020 with our Asean neighbors reveals that the country’s quarter on quarter gross domestic product grew by 5.6 percent, second only to the 6.9 percebt of Vietnam. This is good performance considering that much of the country was in general community quarantine then. Likewise, Indonesia and Malaysia posted QoQ declines as they grappled with the second wave of the virus. In addition, the Google Mobility report shows that consumer confidence was boosted up significantly in December when retail and leisure activities moved up more than 20 percent from their levels when the quarantine restrictions were first implemented in March 2020. People in the retail sector and some in fast food confirmed that this was the case as sales showed significant recoveries in December. This was the time that people were concerned that a mid-January surge is about to happen as people went shopping in many crowded places. However, we are now in the middle of February and the latest data from Department of Health show that the expected surge did not occur. Hospitals’ Covid facilities that were prepared for the surge remain less than 30 percent occupied. These are encouraging signs, suggesting that people are conscious and careful about the importance of health protocols. It is saying that despite the stricter quarantine, the country can create economic activities because of traditions. Nevertheless, the same Google mobility reports show that just after the season ended, the confidence that was observed in December went back below the March 2020 levels. In a normal year, that is also observed as people tend to overspend as they also received their 13th month pay and bonuses in December. As resources dried up and with an unemployment rate of 8.6 percent, it is understandable that activities are muted once again. Despite these, the data show that we can balance economic activities with health needs. This seems to be the message of the economic team. The government have already supported the private sector through various programs in Bayanihan I and II. Private sector response has been limited as it grapples with limited mobility of the work force. The weak business confidence is also reflected in the flat growth of loans, suggesting that the resources provided by the government to increase economic activities are not being utilized to the extent desired. The

Angara. . .

continued from A10

a critical threat to the world in the next two years if left unaddressed. Interestingly, younger respondents to the GRPS—members of the WEF’s Global Shapers program—emphasized that the huge societal gains of recent years could be lost if decisive reforms are not put in place and the youth are not provided enough job and education opportunities. As discussions continue on what the country needs to do to bounce back and recover, it is absolutely es-

A combined falling rate of infections with the arrival of vaccines will be a significant boost to confidence in the economy. The call of the economic managers should be complemented by better implementation of health protocols across the country so that the resulting economic benefits can be maximized, avoiding the risk of possible return of restrictions. infrastructure push of government is also hampered by lack of utilitization of funds allotted for it, possibly due to limited participation of private contractors. This has led to the Bayanihan 2 funds being extended to June this year. Thus, increasing stimulus alone will not be enough if they are implemented in a strict quarantine environment. The other side of this opening is the capacity of government to ensure that health protocols are religiously followed across the country to control the pandemic. Almost a year into this, we still lack a common and single approach to contact tracing. Local government units have their own approach in test, trace and isolate. This part should be done better already as falling numbers of infections is really a better measure of confidence for business and consumer to go back to their economic activities. It should be noted that the number of cases has remained at a rough average of more 1,000 per day since November. The cases are observed to be falling in National Capital Region but they are going higher outside the capital. This is a sign that we still have limitations in addressing the spread of Covid outside key urban areas. Hence, what is crucial in loosening quarantine restrictions is the ability to ensure a uniform approach in testing, tracing and isolating across the country. We need to have cases going down as can be observed with previously high case countries like Bangladesh, which has seen its daily rate dramatically go down to less than 400 today from highs of more than 2,000 per day in November 2020. A combined falling rate of infections with the arrival of vaccines will be a significant boost to confidence in the economy. The call of the economic managers should be complemented by better implementation of health protocols across the country so that the resulting economic benefits can be maximized, avoiding the risk of possible return of restrictions. sential that these issues that hound the youth are addressed in tandem. We will have no real recovery if we are unable to provide for the needs of our younger citizens. Urgent action is needed. Let this be an invitation for others to chime in and share their thoughts on how we can keep the future bright for our youth. Sen. Sonny Angara has been in public service for 16 years—nine years as Representative of the Lone District of Aurora, and seven as Senator. He has authored and sponsored more than 200 laws. He is currently serving his second term in the Senate. E-mail: sensonnyangara@yahoo.com| Facebook, Twitter & Instagram: @sonnyangara

annotations

hen the historians of a government protest over a rapper’s own version of history in a land where histories depend greatly upon foreign archives or documents written in the languages of the colonizers, then we are a truly pathetic, bathetic community of confused citizens, of a nation at best imagined and a territory at worst assumed.

What is the root of this rage at the thought that a popular artist perhaps in his own attempt at heroic illustration sang of Lapu-Lapu beheading Magellan? Where is the certainty that this valiant act of violently decapitating an adventurer/navigator/colonizer never took place? There were observers with quills but they came from the other camp. Those who were supposed to be on the side of the “Filipinos” did not have the tradition of chronicling defeats and victories. In terms therefore of historicizing things, we on the Lapu-Lapu side have, by default, the losing proposition. We are ahistorical while the Spanish armada or whatever they were belonged to a civilization marked by histories, an empire loaded not only with cannonballs but lots of ink to draw maps of encounters and domination. Thus, there is Pigafetta on whose name our historians swear allegiance because, naturally, there is no one else to vouchsafe any claim to historical knowledge of what transpired on that lonesome beach of Mactan. See, I just wrote a beautiful sentence about that Battle involving inglorious “basterds” out to conquer us, in the guise of a quest for spices and a discovery that there were not only golds but also golden-skinned women and, let us not preclude this—the golden muscled men. And who can stop me if I curse the invaders? I have the right to be angry and be contemptuous of those who try to come and dominate the

land where I was born. In much the same way, who does not remember how we were told of that Battle of Mactan where the “Filipinos” (never mind the hasty assertion of national identity where it was not even clear yet because our narrators then were not yet briefed about being critical of histories) wielded only bolos against the more superior cannons and arms of the invaders? The fact is the cinematic Hollywood narration of yore where the narratives of the past are said to be “glimpsed through the mist of histories” captures both the limitations and infinitely poetic as well as prosaic licenses historians and narrators are open to committing. But this nation that does not have cultural proofs of being a nation (of course, the legalese of nationhood is the easiest to impose, lawyering being the most arrogant of disciplines) rests on having a history. Only historians steeped in the rakish investigations of theories will insist that in a land with its own defined territories and cultures, there are histories and not a monolithic narrative, not a single history. So, what is the problem of that rap spoken over the layered music of Cariñosa? As with any rap music, it is a subversion of what music is all about. As with jazz, blues, and rock. What is there to protest against such interpretations? Do we join this cancel culture where we banish those whose thoughts and acts are not in accordance with what we deem proper, i.e., Filipino and patriotic? See

how patriotism is terrifically sexist. It does matter, however, how we can be selective about things that get our nationalistic goat. When the late and much lamented Yoyoy Villame attributed to Magellan an old nursery rhyme as he was dying (O, mother, mother, I am sick. Call the doctor very quick. Doctor, Doctor, shall I die? Tell my Mama do not cry) we never raised hell. That was in the 70s when Lapu-Lapu was a staple joke as a fish and not a hero. But we raise hell now. And the reason is because we are about to commemorate the circumnavigation of the world and, whether we like it or not, the leading man of the plot is Magellan. Substantial are the materials about the Portuguese while scanty are the materials for Lapu-Lapu. We need to settle also a severe flaw in officiating over the enshrinement of this memory for the collective—the journey was not our journey, that history was not our history. We run around like headless chicken in coming up with a commemorative image of Lapu-Lapu. We scour the archives of the State that devalued this Mactan chieftain hoping we could find images and hidden fragments that will assure he was indeed the man—let us forget the label, Filipino—who was the first to repulse the invaders. The search was flawed ab initio: no battle was won in Mactan. The three centuries of Spanish presence and the structured inequality that was its main

legacy other than the religion, which supported the same iniquities, are material proofs needing no archival testimonial about the success of colonialism. And, typical of us, we managed to find new discoveries. One archive said Lapu-Lapu was never there. Another said, Lapu-Lapu could not have killed Magellan because he was already an old man during that monumental siege. Whereupon artists after artists started presenting images of an old man; whereupon people started missing the gallant, buffed warrior embodied by statues depicting Lapu-Lapu. The thing is if we are not even sure how our first hero looked like, if we cannot at all supply hard facts to support what really happened in Mactan long, long time ago, shouldn’t we let the metaphor stay. Let us be quiet, let us allow the symbolling to work. Do not talk too much lest we reveal the hands behind the manipulation of Lapu-Lapu, the ultimate symbol that arises from the dialectical tensions that people unconsciously employ to resolve socio-political contradictions. Respect the search and writing of more histories—the discrepant, the alternative, the revolutionary. A single, unchallenged history, let us be cautioned, is a product of an authoritarian thinking, one that is free to erase identities and biographies.

E-mail: titovaliente@yahoo.com

Is impeachment still a potent tool to make the president accountable for his action? Manny F. Dooc

TELLTALES

eadlines read: “Trump Acquitted!” So, what else is new? No one in his right mind had expected that former President Donald J. Trump would be convicted by a Senate populated by his toady partisans who have been obsequious to Trump’s wishes all these years. The votes are simply not there. Converting 17 Republican senators to vote against Trump would be the greatest miracle since Moses parted the Red Sea. What is incomprehensible is how this bunch of intelligent senators could arrive at a decision that is totally inconsistent with the facts and the law. They obstinately declined to come to their senses and discern the truth from the lies. They voted not to convict Trump not because they found him not guilty but because they were afraid of what Trump and his conservative base can do to ruin their political plans. There was a time when the US Senate was recognized as the greatest deliberative body in the world. It was an august assembly made up of honorable men who had served the best interests of their country. It was the greatest lawmaking body that passed milestone legislations like the Civil Rights Act, the Voting Rights Act, the Social Security Act and the more recent Affordable Care Act. It was the citadel of democracy, which had championed human rights and the rule of law. Today, it is anything but. How will history judge the action of the Senate in absolving Trump from the charge of “inciting to insurrection”? It was the second time he got acquitted by the juror senators. The two impeachments showed that Trump is the worst president the US has ever had. Although Trump was ab-

solved, the last voting was the most bipartisan decision in an impeachment trial against a US president. nnn How would an impeachment process against a president play out in the Philippines? We had removed a president through People Power or by bloodless coup, but we have not impeached a president. It seems that making an impeachment process work against the president is next to impossible. We have no strong party system where party members stick to their political party when it is no longer in power. An elective official turns coat and abandons his group to join the ruling party even before the new president is proclaimed and assumed office. He knows that only the president can butter his bread, so why not jump the ship? Abandoning

one’s own party is a ritual which takes place after every presidential election where the president-elect with nary a dozen of partymates winning seats in Congress succeed in installing his own Speaker and Senate President. We all know that turncoatism should be repudiated as it destroys the system of checks-and-balances. Without separation of powers, the road to dictatorship by an ambitious president is paved without any obstacles. Every politician understands that a robust opposition is needed to maintain a healthy democracy. But in our country, the party in power creates its own opposition that goes to bed with the ruling party. There is hardly any real opposition, and if there is any, you can count them in your fingers. There is an utter lack of scruples and total absence of character and principle. Being a Nacionalista, a Liberal, a PDP-Laban, or what have you, is only a matter of convenience. A political party here in the Philippines has no distinctive platform or ideology that differentiates it from others. All of them adopt whatever is popular in order to ensnare the votes of the masses. Our electorates vote based on personalities and the charisma of the individual candidates, not on the platform and program presented to the voters. Mass defections to the winning president’s party after the elections have become de rigueur, making the party system a myth. Self-interest is paramount than party loyalty. It’s hard to find a politician who will go against the tide and pursue an independent course that may be unpopular but right. Political opportunism is not a liability in our country. We keep on electing political butterflies that cavort from flower to flower which offer them the nectar to suck. John F.

Kennedy, while convalescing from his sickness, had written a book, “Profiles in Courage”, to chronicle exemplary acts of courage of selected US senators even at the risks of their political career. No scholar in our country can assemble a book that profiles political courage in this country. The spoils system, which is predominant in our system of government, enables the winning president to distribute rewards and assigns positions not only to his allies but also the opposition to buy their loyalty and support. And every administration exploits it to the hilt. It is the carrot-and-stick to make public servants obeisance to the president. Any act that will displease the president is forbidden. A legislator cannot afford to offend the president by voting against an administration bill. Will he have the spine to impeach or convict a president? If they can give up their party which has nurtured their political career to fully enjoy the perks of their office, can you expect them to vote against the president who wields the power to keep them in office or elect them to a higher office? The president dispenses the pork, privileges and patronage that every ambitious politician needs to survive the rough- and-tumble game of politics. Thus, any resolution of an article of impeachment against an incumbent president will be certified dead on arrival upon filing in Congress. It won’t see the light of day. As one respected writer of yesteryears, Indalecio P. Soliongco, had once said: “The provisions for impeachment are a joke, and Congress, under the present system, will always remain a congregation of rascals subservient to the President.” I. P. Soliongco said that long ago but it resonates louder today more than ever.

A12 Friday, February 19, 2021

‘Mobile lending underwriting process lacks transparency’

By Tyrone Jasper C. Piad @Tyronepiad

ESPITE the popularity of mobile lending in the Philippines, the underwriting process followed by the financial technology (fintech) players remains to be “very opaque,” a report noted. The Foundation for Media Alternatives (FMA), in its February report titled “Loan Apps: Financial Inclusion At What Cost?” said that many are still in the dark about the exact process of underwriting the loans for the borrowers. “Although most people are aware that they process data using algorithms and proprietary lending models, very few—even among their employees—know exactly how they work,” FMA said. The lack of transparency when it comes to credit standards by mobile lenders can pose some concerns, the report stressed. “How can one determine if specific groups are discriminated against, or are being unfairly targeted with predatory lending, without

insights into how these companies evaluate their borrowers and marketing recipients?” FMA wondered aloud. While the mobile lending apps have privacy notices and terms of use, FMA said these were not enough for transparency because “many of these documents are just as problematic.” Some are just poor replicas of other policies, inaccurate and deceptive, the report explained. Apart from this, FMA flagged the perceived excessive collection of the borrowers’ data given that their credit score assessment process is confidential in nature. The report said that many do not understand why certain information are being collected and if

whether such data have weight in the loan application. For example, FMA said many customers were puzzled after some lenders required the following information: borrower’s location, text messages, file storage, vibration control, flashlight, calendar, web bookmarks and history, battery statistics, and even the phone’s system settings. “Lending companies may face criminal charges for violating data protection laws, if they are unable to provide any valid explanation,” FMA said. With this, FMA said the lenders should have a sound privacy program being led by a qualified data protection officer. The program is expected to establish an opt-in model for data collection instead of relying on default method of “collect-everything mindset.” T he lender’s pr ivac y team should also give priority in putting up strong consent mechanisms that offer the borrowers meaningful alternatives and allowing them to withdraw easily at the same time. “Cybersecurity ought to be a priority, instead of an afterthought,” FMA said. “Many technology enthusiasts commit this common mistake of thinking of technology

solely in terms of convenience and profitability.” On the part of the regulators, FMA expects them to be more proactive in addressing the concerns involving mobile lending operators. The group said additional industry-specific rules are often necessary in these cases. “They [regulators] need to be made in coordination with stakeholders, so that they actually respond to the issues, without negatively impacting legitimate business practices,” it explained. Borrowers, meanwhile, are urged to do research about the mobile lenders before doing business with them online to avoid future lending problems. It would be helpful if customers read the reviews of the mobile lending operators and check their privacy notices and terms of use first, the report suggested. “If, despite all these precautionary measures, one still ends up with a delinquent lender, all available remedies must be exhausted to make sure the company is held to account,” FMA said. According to the Philippines Fintech Report 2020, there are currently over 190 fintech players in the country, mostly offering services in lending, payments, digital wallets, and remittances.

FIRST SUSTAINABILITY FUND EYES SDG-FRIENDLY PHL FIRMS By Cai U. Ordinario

@caiordinario

N a bid to encourage more companies to adopt initiatives geared toward attaining the Sustainable Development Goals (SDGs), Philippine fund manager ATR Asset Management (Atram) launched the country’s first Sustainability Fund. In a statement, Atram said the fund will invest in companies that score high in terms of integrating the United Nations SDGs into their operations. In an email to BusinessMirror, Phillip Hagedorn, the Chief Investment Officer of Atram, listed the top 11 on their list: Ayala Land Inc. (ALI); Axelum Resources Corp. (AXLM); BDO Unibank Inc. (BDO); Bank of the Philippine Islands (BPI); Century Pacific Food Inc. (CNPFI); Eagle Cement Corporation (EAGLE); First Gen Corporation (FGEN); Jollibee Foods Corporation (JFC); Manila Water Company Inc. (MWC); Unionbank of the Philippines (UBP); and Wilcon Depot Inc. (WLCON). “We would do an annual review of SDG scores for the top 20 companies that passed our initial minimum threshold. For some background, we started off with 20 of our top scoring companies whose SDG scores passed a certain level. We plan to also review

the other companies in the next cycle,” Hagedorn explained. Hagedorn said the criteria used to determine the firms meant assigning specific outcomes based on the SDGs that they can reliably measure from sustainability reports. These are investment in education, carbon emissions and hiring from nearby communities to objectively score the companies across the SDGs. The overall score will be called the SDG score. “Through this fund, we hope to encourage PSE listed companies to integrate UN SDGs into their businesses. This means companies should always look after employee health and education, drive employment and not unemployment, invest significantly into R&D, take care of their environment, and other SDG-related responsibilities. If more companies pay it forward, we can make a huge difference for the environment, society, and the economy,” Hagedorn said in a statement. The fund, Atram explained, is a Unit Investment Trust Fund (or UITF), a pooled investment that is regulated by the Bangko Sentral ng Pilipinas. The fund, as a UITF, is similar to how a mutual fund (MF) works but with some differences. Continued on A2

China must pay P.8-T SC: PLDT case in WPS damage–Risa vs Bayantel,

HE Chinese government was asked to start paying China’s “debt” to the Philippines, pegged at over P800 billion, for “damaging the wealth and marine life stolen in the West Philippine Sea.” Lay ing the blame squ a re ly on “ B eiji ng’s adventurism in the disputed waters,” Senator Risa Hontiveros pressed the Chinese government to “pay reparations for the value of the wealth and marine life stolen in the West Philippine Sea due to Beijing’s adventurism in the disputed waters.” In a statement Thursday, the senator stressed it is “time to pay up” even as she recalled that the Chinese Embassy in Manila earlier thumbed down an initial demand for over P200-billion reparations, that has now ballooned to over P800 billion. “The Chinese Embassy had earlier rejected our demand for P200 billion for the damage they caused in the WPS since 2013. But now, that amount has risen to P800 billion in damage to our natural resources; hence, our continuing demand,” Hontiveros said, partly in Filipino. She recalled that the initial estimate of P231.7 billion worth of ruined reefs for seven years was published in the international journal Ecosystem Services last year, on the basis of valuation per coral reef at P18 million. The amount was multiplied by 1,850 hectares of reef ecosystems in Panatag and Spratlys that have been damaged by China.

DWIZ host’s computation The senator added there

has been a total of P644 billion looted fish catch since 2014, citing recent computations by DWIZ investigative journalist Jarius Bondoc who, she noted, arrived at the number by multiplying the 1.2 million tons of fish usually caught by Chinese vessels in Zamora and Panganiban reefs annually, with Seafdec’s estimated value per ton of fish catch in the South China Sea at P76,710. In filing Senate Resolution 369, she sought to have China foot the bill of Covid-19 response by paying the over P200 billion worth of reparations owed to the Philippines for its activities in the WPS, adding that “this amount should now be updated” to include the recent computations. The lawmaker lamented that “we cannot take back the marine resources that China has destroyed in the WPS,” but strongly suggested, “we can go after China to pay up.” At the same time, Hontiveros cited former foreign affairs secretary Albert del Rosario’s lament that the livelihood of 350,000 fisherfolk have been negatively affected by China’s presence in the WPS. Asserting that Filipinos have the legitimate right to demand reparations, the senator recalled that “in fact, Japan already paid the Philippines reparations for, among others, the destruction of Manila during World War II. The United States also paid the Philippines after the USS Guardian gashed corals around the Sulu Sea in 2015. We have to find a way to make China pay. If other nations paid up, why not China?” she asked. Butch Fernandez

Globe moot

HE Supreme Court has junked the bid of Pangilinan-led Philippine Long Distance Telephone Company (PLDT) to block Globe and Bayan Telecommunications Inc.’s (Bayantel) joint application for regulatory approval filed before the National Telecommunications Commission (NTC). In a six-page resolution released on Tuesday, the Court’s First Division held that the petition for review filed by PLDT, seeking the reversal of the Court of Appeals’ 2015 decision affirming the validity of the orders issued on November 27, 2013, December 13, 2013 and July 3, 2014 by the respondent NTC, is already moot and academic. The NTC orders allowed the continuation of the proceedings before the NTC in connection with Globe and Bayantel’s joint application for regulatory approval, and denied the PLDT’s motion to dismiss or suspend the same. The Court explained that the petition for review has become moot and academic with the approval of Globe and Bayantel’s Joint Application by the NTC last July 2, 2015. “In this case, while the certiorari petition filed by PLDT questioning the interlocutory orders issued by the NTC was pending, the NTC rendered a decision on the Joint Application … Given this development, any action on the certiorari petition on mere incidental matters of the Joint Application would not accord any practical relief to PLDT,” the resolution read. Globe and Bayantel had sought the denial of PLDT’s petition for review on the ground that it has become moot and academic because of the issuance of the NTC decision on July 2, 2015 approving the Joint Application. They noted that PLDT has already resorted to the filing of a motion for reconsideration before the NTC, seeking to set aside its July 2, 2015 resolution. PLDT, however, insisted that the petition has not been mooted by the approval of the Joint Application, considering that such decision is not yet final and executory. It also insisted that the case is an exception to the rule on mootness. However, the SC maintained that the case has already become moot and academic and that PLDT’s remedy is to file an appeal questioning the NTC decision in the Joint Application and not to insist on the petition for review on certiorari involving interlocutory orders earlier issued by the NTC. In questioning Globe and Bayantel’s Joint Application, PLDT claimed that the NTC violated its own rules and its right to due process when it did not order the joint applicants to append the amended rehabilitation plan (ARP) and the master restructuring agreement (MRA) to the joint application. Continued on A4

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DTI to Indian firms: Explore opportunities in PHL infra

By Elijah Felice E. Rosales

@alyasjah

he Department of Trade and Industry (DTI) is enticing Indian firms to set up shop in the Philippines to capitalize on the new trade deal among Asia-Pacific economies that New Delhi failed to sign. In a speech on Thursday, Trade Secretary Ramon M. Lopez called on Indian investors to look to the Philippines for partnerships in the infrastructure sector. He said there are six public-private partnership (PPP) rail projects that India can assess for its consideration. “India was encouraged to consider the opportunities in Philippine infrastructure and construction given the complementaries in the sector,”

Lopez explained at the Business Conference on India-Philippines Infrastructure Cooperation. Likewise, he relayed the interest of Philippine firms to participate in the modernization of India’s ports and development projects under the Sagamala and the Bharatmala Projects. As such, he argued there’s cooperation that can be maximized between Manila and New Delhi in terms of infrastructure buildup.

“To this end, we invite you to look into possible partnerships with local construction companies for the development of infrastructure and construction projects in India,” Lopez said. “We would like to point out that construction and related engineering services was our top export product in the 1970s. As such, our companies have built and continue to build famous landmarks and structures globally.” Further, Lopez said Indian investors can take advantage of the Philippines’ membership in the Regional Comprehensive Economic Partnership (RCEP). India abandoned its plans to sign the RCEP on domestic protests that the trade deal would hurt the supply and demand for its local goods. The Indian government formally withdrew from talks in 2019, and the RCEP would be later on signed in 2020. “Given that India did not pursue

its memberships in the RCEP, Indian businessmen can still benefit from the mega free trade agreement through the Philippines’s own participation,” Lopez said. “Once it is effective, RCEP is expected to boost intra-regional investment and trade with ASEAN expected to play a vital role in the agreement.” The trade chief concluded it would benefit both economies if they improve their trade activities, especially at a time the Philippines and India are suffering the economic impact of the Covid-19 pandemic. India has the second worst Covid-19 situation with nearly 11 million infections and at least 156,000 deaths. The DTI is expecting lawmakers to ratify the RCEP this year. Once ratified, the trade deal would remove tariffs on most of exports to and imports from RCEP economies, namely, the Southeast Asian nations, Australia, China, Japan, New Zealand and South Korea.

VisMin grid project faces delay–NGCP By Lorenz S. Marasigan @lorenzmarasigan

he National Grid Corp. of the Philippines (NGCP) on Thursday said the Mindanao-Visayas Interconnection Project (MVIP) may be delayed as several portions of its fiber optic connection were damaged. According to the company, the first portion of its submarine cable for the Capitan-Santander 350 kV high voltage direct current (HVDC) “was found to have been damaged in several locations.” The line, which was completed last November, runs between Zamboanga del Norte and Cebu. Initial reports show a vessel navigating the area where the first cable was laid a month after the completion of the cable laying activity. The damage was discovered while the

Photo shows the damaged fiber optic cable of the National Grid Corp. of the Philippines. Contributed Photo

second cable was being laid. The NGCP said investigation is underway. But a company official clarified that there are “no indica-

tion” of sabotage. “This is an unfortunate circumstance which may delay the MVIP timeline. NGCP is working on a

catch-up plan given the fragility of handling fiber optic submarine cables,” the company said. A project of national significance, the MVIP’s completion was extended from December 2020 to December 22021 due to the pandemic. The damage will require the NGCP to conduct another procurement procedure, which is also affected by the current quarantine restrictions on cable shipping and availability of foreign experts. Weather and tide conditions may also affect the repair works. Once completed, the MVIP will connect the Visayas and Mindanao grids through an HVDC system with a 450 MegaWatt (MW) initial capacity. It covers 184 circuit kilometers (ckm) of submarine cables and 526 ckm of overhead wires connecting Dapitan, Zamboanga del Norte to Santander, Cebu.

Globe racing Ayala represents PHL in Vatican-backed group to build more telco towers

lobe Telecom Inc. said it is doubling its efforts in constructing new cell sites or towers, as it seeks to “fortify its leadership” in the race for telco infrastructure development in the country. Ernest L. Cu, the company’s president, said in 2020, his group led the industry with the most number of towers. Citing data from the National Telecommunications Commission (NTC), Cu said Globe ended 2020 with 10,395 cell sites, beating Smart Communications Inc.’s 10,079, and Dito Telecommunity Corp.’s 2,360 towers. With this, he said, Globe is further ramping up efforts to continue leading the industry in terms of infrastructure builds. “Globe is seizing the opportunity to further accelerate its builds in 2021. The target is to put up 2,000 new sites, including in-building solutions and partnerships with independent tower companies,” he said. The telco is spending P70 billion in capital expenditures this year to further develop its fixed and wireless networks. The company also said it activated its Taal disaster relief operations on the “heightened possibility” of another volcanic eruption. The telco currently provides Libreng Tawag and WiFi services to three barangays as well as free data access to websites of the Philippine Institute of Volcanology and Seismology (Phivolcs) and the National Disaster Risk Reduction and Management Council (NDRRMC). The Libreng Tawag and Libreng WiFi facilities are available in Barangay Tumaway, Talisay Batangas from February 18 to 21, 9 a.m. to 6 p.m. It was also earlier offered to residents of Barangay Aya and Barangay Poblacion 5 in Talisay, Batangas. Lorenz S. Marasigan

yala Corp. Chairman and CEO Jaime Augusto Zobel de Ayala has joined the Council for Inclusive Capitalism with the Vatican—a global nonprofit coalition of business and public sector leaders. Ayala is the first business group from the Philippines to be represented in the Council. Hailed by the UN Global Compact as a Sustainable Development Goals pioneer, Zobel is among the 17 new stewards of the council—business and investment leaders from around the world working to change capitalism for good via measurable public commitments toward more inclusive and sustainable practices. “All of us who thrive on the success of capitalism need to have a sense of responsibility and empathy to counteract the forces of inequity that the system also creates. We need to collectively harness our resources, ingenuity, and energy to align our institutions to the broader, progressive development goals of humanity, in general, and our host communities,” Zobel said. Launched in December 2020, the council is a collaboration of CEOs and global leaders and provided moral guidance by Pope Francis and the Vatican through Cardinal Peter Turkson of the Dicastery for Promoting Integral Human Development. The

ZOBEL DE AYALA

said group was formed to build a more trusted, fair, responsible, dynamic, and sustainable economic system that addresses the needs of people and planet. It serves as a forum for interaction and sharing best practices, and a core group of guardians for inclusive capitalism. Guardians include leaders of the United Nations, Ford Foundation, Rockefeller Foundation, Bank of America, Ernst and Young, Mastercard, among others. “Whether you are a small-town grocer, or a CEO of a global corporation, we all have a role to play to build more inclusive economies and societies,” Meredith Sumpter, CEO of the council, said. L a st yea r, Zobel wa s a l so named co-chair of Trade and In-

vestment Taskforce at B20 Saudi Arabia, the official voice of the global private sector to the G20. As part of the taskforce leadership, he has been an instrumental part of the policy formulation process, providing his continuous guidance and expertise to other leaders and members. “I believe that no challenge is insurmountable if we harness our collective ingenuity and energy, most especially when we are driven by a shared commitment to make a meaningful difference in the lives of people; and the future of our children and our planet. The Council for Inclusive Capitalism is an excellent coalition to push this agenda forward, and I am committed to contribute and to learn,” Zobel said.

Friday, February 19, 2021

AirAsia: Tweaks in health protocols to spur tourism

BusinessMirror file photo

By Recto L. Mercene @rectomercene

irAsia said it is optimistic that domestic tourism will start to pick up in the coming months with more and more local government units (LGU) accepting antigen and the saliva Reverse Transcription-Polymerase Chain Reaction (RT-PCR) test, which are cheaper alternatives to the nasopharyngeal RT-PCR. The Province of Bohol was the first LGU to accept saliva RT-PCR test results for those availing the tourism bubble. The LGUs of Negros Occidental and Aklan, meanwhile, expressed interest in using the same method for residents and arriving tourists to Boracay and Bacolod. The adjustments in health and safety protocols in different provinces and the proposed shift to modified general community quarantine have driven more tourists to look forward to visiting different tourist destinations especially this coming summer, according to the budget carrier. The earlier pronouncement of the Provincial Government of Cebu allowing entry of local tourists from anywhere in the country with minimal requirements needed is also another positive development. Aside from a negative RT-PCR test, tourists who will be visiting resorts and hotels in Cebu will only need to present their pre-booked reservations. Those who would like to experience other activities in the province meanwhile need to register

in advance at discover.cebu.gov.ph. And with only a month before the hot dry season kicks off, AirAsia believes it is time for local travelers to “REDyscover” their favorite travel destinations. To entice more Filipinos to travel, AirAsia released a series of travel video “memes” coined as “dream summer” on its social-media platforms, portraying people who dreamed of going to their favorite destinations to experience the sand and the beach. AirAsia Spokesperson Steve Dailisan said, “It’s been almost a year since the pandemic started. We know how frustrating the past months have been. We can only guess that with summer just around the corner, most of our kababayans who spent their months on lockdown are now excited to fit their summer ‘Outfit of the Day’ (OOTD).” “AirAsia is here to make that happen for you. While most of the destinations in the provinces have relaxed their restrictions and requirements, we at AirAsia are coming up with promos that will entice Filipinos to travel and REDyscover the Philippines.” AirAsia is offering big discounts on tickets and hotels. Travelers may book flights until March 7, 2021 and travel from February 15 to July 31, 2021, and get big discounts, from as low as P98 one-way base fare from Manila, Clark and Cebu to their favorite summer destinations, such as Bohol, Kalibo, Puerto Princesa, Cagayan de Oro, Tacloban, Davao, Iloilo, General Santos, Bacolod and Zamboanga.

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PSE STOCK QUOTATIONS

February 18, 2021

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

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

43.3 107.6 84 24.05 7.93 10.3 51 10.8 26.1 54.3 96.3 17.32 128.1 71 1.12 3.95 3.51 1.58 0.43 0.8 149.4 2,100 1.03

44.95 107.9 84.2 24.1 8.48 10.4 51.15 11 26.15 54.65 114.9 17.5 129.1 72.5 1.15 3.98 3.59 1.59 0.465 0.81 149.5 2,190 1.07

43.5 107 84.4 24.05 8.2 10.42 51.25 10.82 26.15 54.65 96.3 17.4 128.1 71 1.15 3.99 3.59 1.6 0.46 0.82 149.7 2,100 1.02

43.5 107.9 85 24.1 8.48 10.66 52.2 10.82 26.6 54.65 96.3 17.4 129.6 72.5 1.2 3.99 3.6 1.6 0.485 0.82 150.5 2,100 1.02

43.15 105.9 83.85 23.95 8.2 10.02 51 10.82 26.05 54.3 96.3 17.1 128 70.8 1.08 3.94 3.5 1.59 0.43 0.8 149.1 2,100 1.02

43.25 107.6 84 24.1 8.48 10.4 51 10.82 26.15 54.65 96.3 17.32 129.1 72.5 1.15 3.95 3.51 1.59 0.465 0.81 149.5 2,100 1.02

16,800 727,530 1,950,240 208,968,149 1,854,270 155,872,516.50 454,400 10,925,240 700 5,880 513,600 5,355,414 18,254,600 937,923,850 4,600 49,772 480,700 12,639,485 7,680 419,263.50 10 963 56,800 982,806 429,340 55,364,697 96,520 6,978,587.50 581,000 659,210 205,000 810,580 53,000 190,110 104,000 165,670 3,610,000 1,615,250 288,000 233,500 3,420 511,267 20 42,000 40,000 40,800

4,345 -47,771,362 -46,178,783.50 -1,010,400 -1,312,894 -262,931,555 -5,885,925 9,832.50 -676,730 -38,430,339 5,989,003 -3,500 9,000 810 98,670 42,000 -

INDUSTRIAL AC ENERGY 7.86 7.87 7.7 7.89 7.7 7.86 31,872,900 249,665,748 ALSONS CONS 1.37 1.39 1.33 1.4 1.3 1.39 7,740,000 10,646,070 25.35 25.4 26.15 26.15 25.4 25.4 2,607,800 67,035,385 ABOITIZ POWER BASIC ENERGY 1.17 1.18 1.15 1.17 1.14 1.17 55,031,000 63,765,230 29.9 29.95 30 30.9 29.95 29.95 1,409,400 42,357,575 FIRST GEN FIRST PHIL HLDG 75.6 75.7 76 76 75.5 75.6 16,220 1,230,736.50 285.6 288 288.2 289.8 285.6 285.6 336,170 96,735,170 MERALCO PETRON 3.73 3.74 3.74 3.74 3.72 3.74 434,000 1,619,410 3.82 3.97 3.85 3.85 3.85 3.85 5,000 19,250 PETROENERGY PHX PETROLEUM 12.58 12.76 12.62 12.82 12.58 12.76 15,200 192,678 22 22.4 22.45 22.45 22 22 602,800 13,344,210 PILIPINAS SHELL SPC POWER 10.16 10.2 10.26 10.26 10.16 10.16 123,400 1,258,920 7.17 7.21 7.2 7.28 7.07 7.21 1,243,900 8,911,600 AGRINURTURE AXELUM 3.41 3.45 3.48 3.48 3.36 3.45 836,000 2,870,110 14.08 14.18 14.28 14.28 14.06 14.06 6,500 92,110 CNTRL AZUCARERA CENTURY FOOD 17.36 17.52 17.5 17.8 17.28 17.52 975,000 17,070,354 8.81 9 8.86 9 8.8 9 261,500 2,305,298 DEL MONTE DNL INDUS 7.2 7.28 7.3 7.35 7.2 7.2 500,700 3,626,072 9.95 9.99 9.99 9.99 9.91 9.99 248,600 2,473,156 EMPERADOR SMC FOODANDBEV 68 68.1 68 68.4 67.6 68.1 268,610 18,270,459.50 0.64 0.65 0.67 0.67 0.64 0.66 380,000 247,400 ALLIANCE SELECT FRUITAS HLDG 1.55 1.58 1.55 1.59 1.55 1.58 11,126,000 17,430,620 52.75 52.9 52.6 53.1 52.6 52.9 129,640 6,855,688 GINEBRA JOLLIBEE 178.8 178.9 179 182 178.9 178.9 802,130 143,910,681 38 38.4 35.9 39.25 35.9 38.4 24,400 918,140 LIBERTY FLOUR MAXS GROUP 6.65 6.67 6.61 6.79 6.61 6.65 81,800 542,933 0.39 0.395 0.41 0.415 0.385 0.395 56,890,000 22,710,900 MG HLDG SHAKEYS PIZZA 7.42 7.45 7.5 7.5 7.4 7.42 292,400 2,185,503 1.13 1.14 1.15 1.17 1.13 1.13 3,474,000 3,976,320 ROXAS AND CO RFM CORP 4.61 4.7 4.61 4.61 4.61 4.61 2,000 9,220 1.7 1.75 1.68 1.79 1.67 1.75 481,000 837,800 ROXAS HLDG SWIFT FOODS 0.146 0.148 0.144 0.156 0.136 0.146 141,370,000 21,018,190 135.4 135.7 140 140.5 135.4 135.4 1,397,500 191,276,714 UNIV ROBINA VITARICH 0.91 0.92 0.91 0.92 0.9 0.92 1,754,000 1,598,260 CONCRETE A 52.05 53.45 52.05 53.45 52 53.45 2,580 134,282 1.42 1.43 1.44 1.46 1.41 1.43 6,077,000 8,699,140 CEMEX HLDG DAVINCI CAPITAL 6.22 6.23 6.36 6.6 6.16 6.22 4,214,300 26,813,518 13.32 13.8 13.44 13.8 13.24 13.8 143,800 1,915,228 EAGLE CEMENT EEI CORP 8.7 8.74 8.85 8.86 8.7 8.74 1,260,400 11,081,845 6.46 6.5 6.35 6.5 6.31 6.5 473,400 3,028,682 HOLCIM MEGAWIDE 7.6 7.62 8 8 7.58 7.6 1,764,400 13,504,372 10.8 10.94 10.6 10.8 10.6 10.8 18,700 201,260 PHINMA TKC METALS 1.42 1.43 1.43 1.44 1.34 1.43 2,706,000 3,758,510 3.51 3.52 3.25 3.59 3.11 3.52 48,875,000 164,970,160 VULCAN INDL CROWN ASIA 2.02 2.03 2.07 2.07 1.97 2.03 3,021,000 6,068,670 2.26 2.28 2.3 2.3 2.22 2.26 165,000 369,860 EUROMED LMG CORP 4.76 4.99 4.73 4.73 4.72 4.72 60,000 283,700 4.5 4.66 4.64 4.66 4.64 4.66 2,000 9,300 MABUHAY VINYL PRYCE CORP 5.52 5.6 5.52 5.65 5.52 5.6 15,900 88,987 20.7 20.8 21 21 20.7 20.8 103,900 2,166,765 CONCEPCION GREENERGY 4.37 4.38 3.94 4.44 3.86 4.38 46,905,000 200,273,400 14.48 14.5 13.3 14.6 13.1 14.5 8,052,200 113,362,862 INTEGRATED MICR IONICS 1.31 1.32 1.33 1.34 1.26 1.32 1,419,000 1,843,770 5.76 6.09 6.1 6.1 6.1 6.1 100 610 PANASONIC SFA SEMICON 1.68 1.69 1.61 1.72 1.55 1.69 15,352,000 25,543,530 6.8 6.82 6.8 6.82 6.68 6.8 3,084,900 20,807,665 CIRTEK HLDG

27,793,293 185,190 -14,222,115 2,190,790.00 4,489,570 -592,339.50 -31,608,018 11,220 56,610 627,890 -15,256.00 2,496,287 1,810,992 176,000 -1,700,795 -220,657 218,863 -6,500 -42,430 4,655,479 -39,659,641 -4,763 48,350 -1,741,626 -23,100 -1,790 -95,250 -117,378,089 8,240 -77,060 318,558 89,684 -5,208,883.00 -158,472 -1,449,516 69,000 3,995,370 -64,320.00 2,220 -1,008,175 -2,156,960 -13,659,990 128,000 -1,590,310 -1,284,475

HOLDING & FRIMS ABACORE CAPITAL 1.16 1.17 1.15 1.18 1.11 1.17 21,009,000 24,256,830 ASIABEST GROUP 7.89 8.09 7.96 8.09 7.9 8.09 31,200 248,055 773 777.5 790 794 773 773 208,060 161,696,900 AYALA CORP ABOITIZ EQUITY 42 42.3 43 43.75 42 42 958,700 40,536,910 10.2 10.28 10.54 10.6 10.2 10.2 2,524,800 25,965,038 ALLIANCE GLOBAL AYALA LAND LOG 3.13 3.14 3.06 3.14 3.01 3.13 2,038,000 6,257,930 7.44 7.5 7.29 7.8 7.18 7.44 232,800 1,737,901 ANSCOR ANGLO PHIL HLDG 0.91 0.92 0.9 0.94 0.87 0.92 8,656,000 7,876,250 0.92 0.93 0.96 0.96 0.92 0.92 13,274,000 12,424,440 ATN HLDG A ATN HLDG B 0.91 0.92 0.97 0.97 0.92 0.92 1,055,000 980,410 5.25 5.27 5.23 5.27 5.18 5.25 2,775,100 14,444,485 COSCO CAPITAL DMCI HLDG 5.25 5.33 5.33 5.39 5.23 5.25 4,794,900 25,373,392 8.82 8.98 8.78 9 8.7 8.9 76,100 670,493 FILINVEST DEV FORUM PACIFIC 0.241 0.248 0.233 0.25 0.233 0.248 1,600,000 377,070 569.5 570 570 584.5 564 570 226,130 129,653,835 GT CAPITAL HOUSE OF INV 3.8 3.82 3.9 3.9 3.78 3.82 690,000 2,639,240 63.8 63.9 65.85 66.45 63.8 63.8 1,858,470 119,149,199.50 JG SUMMIT LODESTAR 1.77 1.78 1.85 1.86 1.73 1.77 18,038,000 32,043,210 3.73 3.77 3.75 3.77 3.74 3.77 62,000 233,450 LOPEZ HLDG LT GROUP 13.96 14 14.22 14.22 13.64 13.96 2,932,200 40,970,736 0.51 0.53 0.53 0.53 0.51 0.53 362,000 190,860 MABUHAY HLDG METRO PAC INV 4.16 4.19 4.21 4.22 4.16 4.16 21,243,000 88,882,880 5.11 5.2 5.46 5.5 5.07 5.28 105,100 546,937 PACIFICA HLDG PRIME MEDIA 1.73 1.75 1.58 1.76 1.55 1.75 7,019,000 11,926,610 3 3.05 2.93 3 2.92 3 75,000 221,310 REPUBLIC GLASS SOLID GROUP 1.27 1.32 1.28 1.32 1.27 1.32 10,000 12,800 317 328 317 317 317 317 230 72,910 SYNERGY GRID SM INVESTMENTS 1,036 1,038 1,050 1,060 1,033 1,036 242,500 252,066,330 125.6 126.4 126 126 125.3 125.6 70,610 8,879,010 SAN MIGUEL CORP SOC RESOURCES 0.83 0.84 0.83 0.87 0.83 0.84 1,557,000 1,312,910 2.42 2.65 2.29 2.65 2.28 2.65 65,000 159,530 SEAFRONT RES TOP FRONTIER 138.5 140 136 140 136 140 3,840 536,273 0.237 0.25 0.236 0.25 0.236 0.25 20,000 4,860 WELLEX INDUS ZEUS HLDG 0.25 0.255 0.255 0.255 0.24 0.25 15,220,000 3,749,320

1,094,200 -39,409,245 -27,573,385 -11,312,120 1,590,730 91,200 -158,860 1,046,217 -13,416,422 196,676.00 42,062,130 -870,340 -71,587,541 -2,539,070 -41,288,460 -88,700 -66,287,425 -4,261,601 -26,100 2,480

PROPERTY ARTHALAND CORP 0.67 0.68 0.66 0.7 0.66 0.68 1,335,000 908,380 AYALA LAND 38.85 39.1 39.75 39.75 38.7 38.85 10,125,000 396,103,250 1.46 1.49 1.36 1.49 1.31 1.46 562,000 801,090 ARANETA PROP AREIT RT 34.2 34.4 34.05 34.9 34.05 34.2 162,200 5,598,310 1.67 1.68 1.71 1.71 1.67 1.67 191,000 320,380 BELLE CORP A BROWN 0.97 0.98 0.98 0.98 0.96 0.97 1,230,000 1,191,320 0.78 0.79 0.79 0.79 0.79 0.79 2,000 1,580 CITYLAND DEVT CROWN EQUITIES 0.149 0.152 0.153 0.153 0.148 0.152 2,590,000 388,660 5.6 5.78 5.61 5.75 5.32 5.52 95,900 531,956 CEBU HLDG CEB LANDMASTERS 5.22 5.23 5.08 5.22 5.08 5.22 580,200 3,002,012 0.42 0.43 0.425 0.44 0.42 0.425 19,600,000 8,446,800 CENTURY PROP CYBER BAY 0.35 0.36 0.36 0.36 0.345 0.35 360,000 127,550 15.06 15.08 15.2 15.6 15.04 15.08 5,307,600 81,317,052 DOUBLEDRAGON DM WENCESLAO 6.8 6.94 6.8 6.95 6.75 6.95 124,000 844,465 0.295 0.3 0.3 0.3 0.295 0.295 130,000 38,400 EMPIRE EAST EVER GOTESCO 0.092 0.093 0.091 0.094 0.09 0.093 650,000 59,350 1.16 1.17 1.18 1.18 1.16 1.16 9,559,000 11,114,970 FILINVEST LAND GLOBAL ESTATE 0.9 0.91 0.9 0.9 0.9 0.9 213,000 191,700 7.6 7.7 7.68 7.7 7.6 7.6 91,300 697,883 8990 HLDG PHIL INFRADEV 1.54 1.55 1.46 1.59 1.45 1.54 12,374,000 18,996,040 0.71 0.74 0.74 0.74 0.74 0.74 9,000 6,660 CITY AND LAND MEGAWORLD 3.89 3.9 3.83 3.91 3.81 3.9 11,748,000 45,533,630 0.54 0.55 0.52 0.54 0.51 0.54 56,952,000 30,281,950 MRC ALLIED PHIL ESTATES 0.42 0.425 0.42 0.42 0.42 0.42 30,000 12,600 1.52 1.53 1.54 1.56 1.49 1.52 1,646,000 2,493,460 PRIMEX CORP ROBINSONS LAND 19.22 19.3 19.22 19.5 19.18 19.3 2,064,400 39,733,934 0.3 0.32 0.3 0.305 0.29 0.305 600,000 180,450 PHIL REALTY ROCKWELL 1.42 1.45 1.44 1.46 1.42 1.42 694,000 997,330 2.66 2.7 2.65 2.71 2.65 2.7 918,000 2,444,490 SHANG PROP STA LUCIA LAND 2.12 2.18 2.18 2.19 2.11 2.18 335,000 720,150 35.8 36 37 37.05 35.8 35.8 11,064,300 401,102,775 SM PRIME HLDG VISTAMALLS 3.98 4.04 4 4 3.98 4 35,000 139,580 1.92 1.93 2.12 2.12 1.89 1.92 13,268,000 26,322,930 SUNTRUST HOME PTFC REDEV CORP 41 52.6 43 52.6 43 52.6 1,300 58,780 VISTA LAND 4.25 4.32 4.32 4.36 4.23 4.25 2,787,000 11,916,910

39,611,320 -1,974,445 -144,430 -287,100 -212,200 -4,085,732 -14,750 22,500 -4,275,560 187,541 314,170 6,660 -28,235,160 -402,050 357,580 -9,862,620 14,400 151,750 106,000 -223,759,110 17,400 -5,600,850

SERVICES ABS CBN 12.4 12.46 12.34 12.5 12.3 12.46 71,300 881,564 GMA NETWORK 6.85 6.87 6.76 6.85 6.76 6.85 871,400 5,943,597 0.475 0.5 0.5 0.5 0.475 0.475 140,000 69,300 MANILA BULLETIN MLA BRDCASTING 10.06 11.26 11.28 11.28 11.26 11.26 500 5,636 2,026 2,030 2,050 2,060 2,030 2,030 56,415 115,013,710 GLOBE TELECOM PLDT 1,350 1,354 1,353 1,366 1,350 1,350 174,630 236,261,390 0.28 0.285 0.265 0.29 0.26 0.285 2,928,970,000 816,709,450 APOLLO GLOBAL CONVERGE 18.2 18.24 18.16 18.5 18.1 18.2 5,242,200 95,822,952 5.28 5.3 5.23 5.37 5.23 5.28 2,647,200 13,966,102 DFNN INC DITO CME HLDG 17.78 17.8 17.84 18.04 17.58 17.78 24,116,800 430,021,894 0.184 0.189 0.192 0.195 0.183 0.184 19,420,000 3,640,950 ISLAND INFO JACKSTONES 2.14 2.15 2.17 2.19 2.08 2.15 128,000 269,110 3.11 3.12 3.17 3.17 3.05 3.12 4,494,000 13,956,950 NOW CORP TRANSPACIFIC BR 0.51 0.52 0.495 0.54 0.48 0.52 130,210,000 66,722,600 2.63 2.67 2.76 2.76 2.54 2.63 2,228,000 5,871,100 PHILWEB 2GO GROUP 8.5 8.65 8.8 8.8 8.4 8.5 33,600 287,225 14.74 15.52 14.72 14.72 14.72 14.72 200 2,944 ASIAN TERMINALS CHELSEA 4.4 4.44 4.41 4.5 4.4 4.4 1,175,000 5,197,390 49.45 49.5 50 50 48.9 49.5 1,678,380 82,845,625 CEBU AIR INTL CONTAINER 119.1 119.5 121 122.3 119.1 119.1 1,658,010 199,224,398 16.02 16.58 16.58 16.58 16.02 16.58 2,200 35,860 LBC EXPRESS MACROASIA 5.51 5.52 5.55 5.65 5.51 5.52 1,549,900 8,611,236 3.01 3.03 2.97 3.05 2.97 3.02 493,000 1,481,790 METROALLIANCE A PAL HLDG 6.41 6.42 6.43 6.44 6.4 6.41 29,100 186,787 1.37 1.38 1.39 1.4 1.36 1.38 921,000 1,259,600 HARBOR STAR DISCOVERY WORLD 5.21 5.28 5.37 5.65 5.21 5.21 5,166,900 28,011,408 0.55 0.56 0.55 0.57 0.54 0.55 6,457,000 3,545,140 WATERFRONT CENTRO ESCOLAR 6.64 7 7 7 7 7 25,000 175,000 581 649 600 600 581 581 30 17,620 FAR EASTERN U IPEOPLE 8.11 8.6 8.12 8.12 8.11 8.11 1,600 12,980 0.405 0.41 0.41 0.41 0.405 0.405 2,350,000 958,200 STI HLDG BERJAYA 4.5 4.6 4.38 4.5 4.38 4.5 12,000 53,410 7.6 7.63 7.63 7.63 7.5 7.6 7,854,500 59,685,342 BLOOMBERRY PACIFIC ONLINE 2.07 2.14 2.11 2.11 2.11 2.11 17,000 35,870 LEISURE AND RES 1.75 1.77 1.75 1.78 1.73 1.77 113,000 199,170 2.3 2.35 2.9 2.9 2.1 2.3 2,055,000 4,948,780 MANILA JOCKEY PH RESORTS GRP 2.59 2.6 2.66 2.66 2.59 2.6 3,142,000 8,185,840 0.475 0.48 0.48 0.48 0.46 0.48 9,260,000 4,374,200 PREMIUM LEISURE PHIL RACING 6.3 6.5 6.8 6.8 6.5 6.5 2,500 16,700 8.3 8.31 8.23 8.35 8.2 8.31 1,103,900 9,176,047 ALLHOME METRO RETAIL 1.42 1.43 1.42 1.43 1.41 1.43 3,042,000 4,312,590 37.95 38 38.5 38.5 37.55 38 1,477,400 56,087,135 PUREGOLD ROBINSONS RTL 58 58.55 57.9 58.55 57.05 58.55 778,500 44,933,078 103 103.5 103.6 104 103.4 103.5 367,540 38,079,421 PHIL SEVEN CORP SSI GROUP 1.41 1.42 1.4 1.42 1.38 1.41 2,734,000 3,850,990 17.98 18 17.98 18 17.94 17.98 819,100 14,718,530 WILCON DEPOT APC GROUP 0.435 0.44 0.43 0.445 0.415 0.435 5,490,000 2,344,900 6.9 7.15 6.9 7.18 6.83 6.9 18,200 125,109 EASYCALL GOLDEN MV 435 446 446 446 446 446 300 133,800 5.1 5.15 5.15 5.15 5 5 4,800 24,645 IPM HLDG PAXYS 2.2 2.3 2.2 2.2 2.2 2.2 1,000 2,200 2.63 2.64 2.68 2.77 2.6 2.63 103,626,000 276,513,600 PRMIERE HORIZON SBS PHIL CORP 4.55 4.99 4.55 4.55 4.55 4.55 3,000 13,650

-44,700,230 -117,048,395 15,767,350 -18,291,060 10,387,064 4,726,662 37,050 1,179,240 1,291,500 -185,440 2,592 -766,430 23,851,991 -96,279,385 1,658.00 -307,861 12,859 -46,790 321,554 424,000 811.9999 -38,150 9,953,602 -176,880 7,700 32,300 -270,464 -1,665,820 -6,460,235 -15,754,761.50 -50,346 -441,400 2,098,516 403,200 -20,580 -295,260 -

MINING & OIL ATOK 7.61 7.65 7.5 7.76 7.42 7.61 1,450,600 10,920,310 240,940 1.54 1.55 1.56 1.58 1.55 1.55 2,675,000 4,164,060 485,950 APEX MINING ABRA MINING 0.0044 0.0045 0.0043 0.0045 0.0041 0.0044 10,724,000,000 46,979,800 733,400 6.38 6.41 6.38 6.42 6.37 6.38 1,262,400 8,066,808 306,240 ATLAS MINING BENGUET A 3.01 3.06 3.02 3.06 3.02 3.06 11,000 33,380 2.9 2.95 - - - - - - BENGUET B COAL ASIA HLDG 0.345 0.36 0.365 0.365 0.34 0.345 3,420,000 1,201,500 3,600 2.75 2.77 2.78 2.78 2.78 2.78 250,000 695,000 CENTURY PEAK DIZON MINES 11.9 12 11.68 12.3 11.68 12 123,500 1,472,892 2.97 2.98 2.78 3 2.78 2.98 46,234,000 136,496,220 82,551,360 FERRONICKEL GEOGRACE 0.6 0.61 0.54 0.63 0.52 0.6 54,687,000 31,789,400 -157,050 0.156 0.157 0.158 0.161 0.155 0.156 14,730,000 2,319,850 LEPANTO A LEPANTO B 0.155 0.157 0.157 0.157 0.155 0.155 2,350,000 366,170 0.01 0.011 0.01 0.011 0.0099 0.01 182,100,000 1,827,940 MANILA MINING A MANILA MINING B 0.01 0.011 0.01 0.011 0.01 0.01 34,500,000 359,000 1.68 1.69 1.68 1.77 1.67 1.68 3,702,000 6,304,910 1,551,000 MARCVENTURES NIHAO 2.74 2.79 2.8 3 2.73 2.79 370,000 1,035,090 -600 5.6 5.62 5.54 5.67 5.54 5.62 5,019,700 28,188,582 10,755,433 NICKEL ASIA OMICO CORP 0.475 0.48 0.465 0.48 0.445 0.48 930,000 427,700 -14,100 1.09 1.1 1.11 1.15 1.07 1.1 3,472,000 3,789,250 1,100 ORNTL PENINSULA PX MINING 4.5 4.51 4.49 4.56 4.48 4.5 381,000 1,712,910 -44,870 12.74 12.84 12.84 12.9 12.68 12.84 760,700 9,730,834 -2,938,314 SEMIRARA MINING UNITED PARAGON 0.0096 0.0097 0.0099 0.0099 0.0095 0.0096 195,000,000 1,880,800 -9,700 21.1 21.2 21.2 21.3 20.2 21.2 377,400 7,928,620 -831,480 ACE ENEXOR ORNTL PETROL A 0.013 0.014 0.013 0.014 0.013 0.013 787,000,000 10,239,400 0.013 0.014 0.013 0.014 0.013 0.014 3,900,000 50,900 ORNTL PETROL B PHILODRILL 0.014 0.015 0.015 0.015 0.014 0.015 361,100,000 5,197,800 185,200 9.7 9.8 9.75 10.1 9.66 9.8 610,500 5,971,370 505,485 PXP ENERGY PREFFERED HOUSE PREF A 101 101.5 101 101.5 101 101.5 10,080 1,018,180 AC PREF B1 517 528 517 517 517 517 900 465,300 512 526 510.5 511 510.5 511 1,000 510,750 AC PREF B2R CPG PREF A 103 104 102.2 102.2 102 102 3,500 357,016 101 101.5 100.9 101 100.9 101 5,870 592,865 -123,220 DD PREF FGEN PREF G 106 109.9 105 106 105 106 4,880 512,900 504 505 504 504 504 504 2,110 1,063,440 GLO PREF P GTCAP PREF B 1,035 1,036 1,035 1,035 1,035 1,035 1,150 1,190,250 100.8 101 100.8 101 100.8 101 9,350 944,280 MWIDE PREF MWIDE PREF 2A 99 100.4 100.5 100.5 100.5 100.5 500 50,250 50,250 101 101.3 101 101.5 101 101.3 9,990 1,012,157 MWIDE PREF 2B PNX PREF 3B 103.5 104.5 104.9 104.9 103.5 104.5 6,270 652,604 995 1,005 1,000 1,005 993 1,005 425 423,625 PNX PREF 4 PCOR PREF 3A 1,100 1,150 1,096 1,100 1,096 1,100 13,295 14,581,010 1,115 1,134 1,135 1,135 1,115 1,115 60 67,100 PCOR PREF 3B SFI PREF 1.7 1.85 1.71 1.86 1.7 1.85 66,000 115,470 79 79.1 79.5 80 79.1 79.1 7,050 560,305 -122,605 SMC PREF 2C SMC PREF 2E 76.2 77.95 76.2 76.2 76.2 76.2 13,400 1,021,080 77.7 79.25 77.75 79.25 77.6 79.25 269,160 20,904,924.50 SMC PREF 2F SMC PREF 2H 77 78.95 77 79 77 79 112,350 8,723,500 77.1 78.95 77.05 79 76.95 77.1 408,640 32,018,895 SMC PREF 2I SMC PREF 2J 76.2 77 76.25 77.1 76.2 76.2 77,690 5,920,169 76.3 76.85 76.25 76.3 76.15 76.2 204,330 15,570,283 SMC PREF 2K PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 11.28 12 12.26 12.26 11.22 11.26 158,800 1,894,960 -478,260 GMA HLDG PDR 6.6 6.74 6.75 6.75 6.7 6.74 37,100 249,074 -3,225 WARRANTS LR WARRANT 0.87 0.89 0.88 0.89 0.87 0.87 90,000 78,910 8,800 SMALL & MEDIUM ENTERPRISES ALTUS PROP 20.05 20.1 20 21.8 20 20.1 266,900 5,450,820 -74,000 ITALPINAS 3.05 3.06 3.03 3.05 3.01 3.05 1,398,000 4,234,310 109,030 5.95 5.98 5.9 5.95 5.9 5.95 6,200 36,692 KEPWEALTH MAKATI FINANCE 2.75 2.82 2.83 2.83 2.75 2.82 116,000 322,640 7.15 7.16 7.2 7.3 7.09 7.16 14,260,400 102,123,160 86,098 MERRYMART EXHANGE TRADE FUNDS FIRST METRO ETF 103.3 104.5 105 105.5 103.3 103.3 32,170 3,341,336 697,964

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SMC hastening construction of Skyway Extension–Ang

By Lorenz S. Marasigan

@lorenzmarasigan

an Miguel Corp. (SMC) said on Thursday it is fast-tracking extension of the Skyway System to make it more accessible to motorists from the south. This means, however, that a number of road closures have to be implemented to make way for construction works, SMC President Ramon S. Ang said. Starting February 20, motorists are advised to take alternative routes, with the closure of the Alabang southbound exit toll plaza, beside the Alabang viaduct. Motorists may take the Filinvest Exit Toll Plaza or Susana Exit Toll

Plaza as alternative routes. Heavy traffic is expected in the construction area. “We’re again appealing for patience and understanding from our motorists in the south and residents in the area, for any delays that they may experience, as we work to complete the Skyway Extension. We’ve put in place measures to help mitigate the impact on you and to ensure safety,” Ang said.

The Skyway Extension extends the elevated expressway from Skyway Main Line Toll Plaza in Sucat, Paranaque to Susana Heights at the South Luzon Expressway (Slex) and back. It will add 3 lanes going north and two lanes going south. “There is no way of getting around this key stage in construction. We really have to do it. It will be a temporary inconvenience, but I promise you, the benefits—eliminating traffic and providing seamless travel— will be well worth it,” Ang said. Once completed, the Skyway Extension will make travel to and from southern Metro Manila and southern Luzon provinces much faster and more convenient, especially with the new Skyway Stage 3 from Buendia, Makati to the North Luzon Expressway, providing seamless connection to the north. “Today, our motorists are already benefiting from travel from Alabang

to Balintawak via Skyway 1, 2, and 3. Once the Skyway Extension is completed, we will be extending access a little farther down Southern Luzon Expressway (SLEX), near the Muntinlupa-Cavite Expressway. With this, motorists coming from Cavite, Laguna, Batangas can bypass Alabang--and avoid experiencing or contributing to traffic there--and go straight to their destinations in Makati, Manila, San Juan, Quezon City, all the way to NLEX,” said Ang. He added that the project will decongest traffic along major roads to Muntinlupa, Las Piñas, and Cavite. “Traffic in areas such as the Alabang-Zapote Road and other roads feeding into Slex has grown a lot in the past decades, because of more residential and industrial developments. With Skyway Extension’s increased capacity, traffic in these areas will ease and flow more freely,” Ang said.

Aleta Planet, Greenergy eye tie up

reenergy Holdings Inc., the listed company led by businessman Antonio L. Tiu, on Thursday said Singapore-based Aleta Planet is eyeing a partnership with the company for the issuance of virtual cards as well as cross-border money remittance services. Under the proposed collaboration, Aleta Planet, a member of UnionPay International, will provide its proprietary technology solution to issue co-branded virtual UnionPay cards to individual clients through Greenergy and its affiliates. This will enable ease of payment collection and a fully digital cross-border money remittance service to UnionPay accounts. Greenergy, in turn, shall promote the use of virtual accounts and cross border remittance services to the customers and clients of its subsidiaries and affiliates. “Fintech is among Tiu’s overall goals for his business which aims to help Filipino consumers attain financial inclusion, especially the unbanked and underbanked, to have easier access to the financial system,” the company said. The deal would pave the way for Greenergy’s development of a fintech arm by providing fully digital cross-border money remittance services, consistent with the businessman’s vision of creating a seamless e-commerce landscape using financial technology for Filipinos especially agriculture stakeholders. Other services under the planned partnership will include payment acceptance, domestic and cross-border business-to-business money transfers, e-commerce and white-labeling for financial institutions and corpo-

rations and co-branding programs to co-brand partners in relation to the financial technology services it provides. “In all, Tiu wants all his businesses to help address Filipinos’ need for agricultural products, fintech, clean energy, sustainable transitoriented real estate development, green transportation and medical technology among others,” the company said. Greenergy is transforming itself into a holding firm upon its consolidation of Tiu’s assets like digital banking and the AgriToken ecosystem. The said move is in preparation for the launch of its own virtual currency for its closed loop ecosystem. Tiu earlier said he is converting Greenergy into his holding firm to own assets, such as food and agri, biotech, fintech projects, green infrastructure, and renewable energy. Aleta Planet was founded in 2014 in Singapore by a team of professionals with business and technology expertise within the banking and finance industry. It is at the forefront of facilitating cross border payments to and from China. It specializes in end-to-end technology solutions for financial institutions and corporates, providing payment services regulated under the Payment Services Act, governed by the Monetary Authority of Singapore. Aleta Planet is also a direct acquirer and issuer of UnionPay International, offering cross-border, multi-currency transactions. It enables merchants to accept over 8.4 billion UnionPay cards issued globally. It also issues UnionPay commercial and retail cards. VG Cabuag

‘Dividend payouts from PSE listed firms remain robust’

ata compiled by the Philippine Stock Exchange (PSE) showed that 105 of the 271 PSE-listed companies paid a total of P342.88 billion in cash dividends to common stockholders in 2020, giving investors in these companies a yield of 2.50 percent. In 2019, 115 of the 268 PSE-listed companies paid P368.03 billion in cash dividends, also providing a yield of 2.50 percent. For PSEi companies, the cash dividends paid to common stockholders by 29 of the 30 index stocks amounted to P157.05 billion (1.76 percent yield) and P178.52 billion (1.85 percent yield) in 2020 and 2019, respectively. “We are pleased that listed firms continued to pay attractive dividends

in 2020 despite the disruptive impact of the pandemic to their operations and cash flow. These dividends provided investors additional income during one of the most financially challenging years in the history of Philippine business,” PSE President and CEO Ramon S. Monzon said in a statement. The Financials sector had the biggest dividend payout among the sectors last year. Twelve of the 30 companies in this sector paid out a combined P159.05 billion in cash dividends. “We hope that corporate profits will improve substantially this year, especially with the expected arrival of vaccines, so companies can continue to maintain or even increase their dividend payouts,” Monzon added.

mutual funds

February 18, 2021

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 221.26 -6.81% -8.76% -1.55% -2.62% ATRAM Alpha Opportunity Fund, Inc. -a 1.3254 6.41% -6.44% 4.31% 0.94% ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.0545 -8.03% -12.69% -3.04% -2.51% Climbs Share Capital Equity Investment Fund Corp. -a 0.7755 -6.03% -7.88% n.a. -3.53% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.7051 -11.99% n.a. n.a. -4.92% First Metro Save and Learn Equity Fund,Inc. -a 4.806 -4.19% -6.9% -0.66% -2.74% First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.7152 -10.27% -10% -6.04% -5.87% MBG Equity Investment Fund, Inc. -a 101.03 5.76% -5% n.a. -0.89% PAMI Equity Index Fund, Inc. -a 45.6248 -4.9% -6.79% 0.07% -2.61% Philam Strategic Growth Fund, Inc. -a 476.05 -5.11% -6.73% -0.62% -2.64% Philequity Alpha One Fund, Inc. -a,d,5 1.0589 8.11% n.a. n.a. -3.5% Philequity Dividend Yield Fund, Inc. -a 1.1466 -5.52% -6.25% 0.13% -1.85% Philequity Fund, Inc. -a 33.9402 -4.82% -6.18% 0.83% -2.39% Philequity MSCI Philippine Index Fund, Inc. -a 0.8859 -7.67% n.a. n.a. -2.97% Philequity PSE Index Fund Inc. -a 4.6683 -4.54% -6.38% 0.84% -2.57% Philippine Stock Index Fund Corp. -a 781.09 -4.32% -6.26% 0.77% -2.56% Soldivo Strategic Growth Fund, Inc. -a 0.7039 -8.88% -9.96% -3.11% -2.09% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.5292 -9.49% -8.39% -0.83% -2.61% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8937 -4.62% -6.56% 0.6% -2.62% United Fund, Inc. -a 3.2524 -5.57% -5.43% 1.44% -2.01% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 104.8316 -4.33% -6.05% 1.49% -2.53% Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b $1.363 34.4% 7.4% 11.95% 13.31% Sun Life Prosperity World Voyager Fund, Inc. -a $1.8131 26.32% 12.8% n.a. 8.39% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.6667 9.08% -3.25% -0.27% -0.11% ATRAM Philippine Balanced Fund, Inc. -a 2.2432 7.49% -2.85% 1.21% -1.85% First Metro Save and Learn Balanced Fund Inc. -a 2.5772 1.24% -2.42% 0.24% -1.9% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1945 -9.49% n.a. n.a. -2.06% NCM Mutual Fund of the Phils., Inc. -a 1.9527 1.59% -0.5% 2.02% -0.58% PAMI Horizon Fund, Inc. -a 3.7237 1.49% -1.36% 1.14% -1.7% Philam Fund, Inc. -a 16.6613 1.48% -1.44% 1.11% -1.63% Solidaritas Fund, Inc. -a 2.0654 0.08% -2.7% -1.37% 0.9% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.5213 -4.55% -4.24% -0.07% -1.45% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 1.0047 2.21% n.a. n.a. -1.75% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.9279 -1.93% n.a. n.a. -2.24% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.9108 -3.15% n.a. n.a. -2.39% Sun Life Prosperity Dynamic Fund, Inc. -a 0.8764 -4.7% -4.85% -0.66% -1.27% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.0386 -0.8% 3.15% 1.75% -1.33% PAMI Asia Balanced Fund, Inc. -b $1.2122 16.97% 4.8% 7.62% 5.39% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.795 18.9% 9.58% 10.46% 6.25% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.2313 8.83% 5.09% n.a. 2.43% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 371.73 3.59% 3.28% 2.74% 0.18% ATRAM Corporate Bond Fund, Inc. -a 1.9053 -0.15% 0.48% 0.26% 0.26% Cocolife Fixed Income Fund, Inc. -a 3.2177 2.58% 4.31% 4.65% 0.09% Ekklesia Mutual Fund Inc. -a 2.2944 2.62% 2.84% 2.16% -0.07% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4442 3.43% 3.34% 2.06% -0.37% 2.77% -0.24% Philam Bond Fund, Inc. -a 4.6234 5.38% 5% Philam Managed Income Fund, Inc. -a,6 1.3209 5.15% 4.41% 2.69% -0.02% Philequity Peso Bond Fund, Inc. -a 3.9689 4.81% 4.33% 2.6% -0.8% Soldivo Bond Fund, Inc. -a 1.0343 6.56% 4.38% 2.23% -0.74% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.2007 3.61% 4.7% 3.15% -0.17% Sun Life Prosperity GS Fund, Inc. -a 1.7464 2.78% 3.94% 2.5% -0.49% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $484.25 2.73% 3.06% 2.73% 0.08% ALFM Euro Bond Fund, Inc. -a Є219.56 -0.63% 1.06% 1.31% 0.17% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2482 2.71% 3.69% 2.53% -2.51% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0262 0.77% 1.98% 1.43% -1.5% PAMI Global Bond Fund, Inc -b $1.0857 -1.92% 1.16% 0.02% -0.64% Philam Dollar Bond Fund, Inc. -a $2.5138 2.65% 4.92% 3.04% -0.86% Philequity Dollar Income Fund Inc. -a $0.062544 2.88% 3.29% 2.33% 0.36% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1757 -2.38% 2.52% 1.74% -1.49% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 130.08 2.92% 3.33% 2.61% 0.21% First Metro Save and Learn Money Market Fund, Inc. -a 1.0491 1.73% n.a. n.a. 0.1% Sun Life Prosperity Money Market Fund, Inc. -a 1.2989 2.29% 2.94% 2.6% 0.18% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0539 1.37% 1.78% n.a. 0.14% Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 1.205 n.a. n.a. n.a. 6.67% 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."

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Banking&Finance BusinessMirror

Friday, February 19, 2021 B3

Bond issuance nets ₧20B for China Bank

By Tyrone Jasper C. Piad

@Tyronepiad

HINA Banking Corp. earned P20 billion from its first issuance of bonds this year, proceeds of which are allocated for strategic initiatives and expansion programs. In a disclosure on Thursday, China Bank reported that the amount it raised from the transaction was four times more than the original offer of P5 billion, thanks to robust demand from individual and institutional investors. “We would like to extend our gratitude to our investors, customers, and everyone involved in this transaction for their continued trust in us,” said China Bank President William C. Whang. “The strong demand we garnered underscores the investing public’s sustained confidence in China Bank amid these challenging times.” The three-year fixed-rate peso bonds are due in 2024. Each bond carries an in-

terest rate of 2.50 percent per annum and is payable monthly. The bond issuance is the second transaction drawn out of the bank’s P45-billion bond and commercial paper program established in September 2020. The bank previously raised P15 billion from the issuance of two-year bonds in October last year. China Bank Capital Corp. was tapped as the issue coordinator, structuring advisor, joint lead arranger and joint bookrunner. The Hongkong and Shanghai Banking Corp. Ltd. and Philippine Commercial Capital Inc., meanwhile, were the joint lead arrangers, joint bookrunners and selling

DBP LOAN

The Development Bank of the Philippines agreed to lend P1.097 billion to Cebu-based water system company Abejo Waters Corp. DBP President and CEO Emmanuel G. Herbosa said the credit facility will fund the development of water supply and distribution systems in underserved areas of Cebu and Quezon province. At the signing of the loan agreement are (from left) AWC executives led by CFO Kimberley C. Mira, Director Efrain Pedregosa, EVP Elizabeth Frances B. Abejo, CEO/ President Gabino M. Abejo, Jr.; DBP’s Herbosa and DBP SVP Sisinio S. Narisma. CONTRIBUTED PHOTO

STEPS to Next-Level Associations

S purpose-driven, mission-focused organizations, associations provide their key stakeholders with at least four main benefits: (1) learning (training programs, certification and credentials), (2) knowledge (specialized publications, studies and standards), (3) community (platform to network, co-create and collaborate on services), and (4) advocacy (preparing position papers, public policy work, and testimonials). So what else can associations do to boost their stock even more and bring them to a higher level? I read a post on this topic by Ryan Smith of the American Society of Association Executives (ASAE). I tweaked these five “STEPS” to fit the context of associations here. S-ystematize collaboration and co-creation: Associations have in their ecosystem an enormous wealth of human and organizational resources as they represent various professions and industries and their networks. These connections and linkages offer associations opportunities for co-creation and innovation on strategic projects, programs, and activities, not only for their members, but also for society at large. T-ap and boost volunteer time and talent: Volunteers are the lifeblood of associations. They provide their time, energy, and resources for advocacies they care about. They serve in boards, committees, and task forces. But volunteering also comes with both personal and professional benefits. For instance, volunteers can bring back what they have learned from serving associations to their own workplaces and personal lives. E-nergize the human spirit: Being with and working in associations involves a lot of human interactions and relationships. Associations that focus on recognizing, supporting, and raising their people’s spirit and passion can expect to operate better, achieve more results, and grow progressively. Industries prosper and decline, workplaces change over time, but what does not go away is how associations make their people feel valued and rewarded. P-ursue diversity, equity, and inclusion: DEI principles have become a norm in the workplace, in schools, and

Association World Octavio Peralta other settings. Diversity refers to recognizing and respecting everyone’s unique qualities and attributes; equity to a fair and respectful treatment of everyone; and inclusion to a feeling of being accepted and valued. Since associations bring people of different backgrounds together, associations will not be sustainable if they don’t embrace, prioritize, and embed DEI into their culture. By making DEI a strategic imperative and then taking action, associations will also be able to attract talent to their workforce and spark enthusiasm and passion to their work. S-ee the future: Foresight and strategic thinking make associations ‘see’ the future better to ensure success and sustainability. By doing so, it is not only the association that benefits from it, but also its members—e.g., industries and professions—by lifting them as well. Being in this position to think at a higher level provides an opportunity for associations to be thought leaders and influential actions in their communities. With the right focus and dedication, associations have the potential to make a difference in terms of endless possibilities and opportunities for growth and development. I hope these “STEPS” give you some ideas and tools as you move forward to levelling up your association. The column contributor, Octavio ‘Bobby’ Peralta, is concurrently the secretary-general of the Association of Development Financing Institutions in Asia and the Pacific, Founder & CEO of the Philippine Council of Associations and Association Executives and President of the Asia-Pacific Federation of Association Organizations. The purpose of PCAAE—the “association of associations”—is to advance the association management profession and to make associations well-governed and sustainable. PCAAE enjoys the support of Adfiap, the Tourism Promotions Board, and the Philippine International Convention Center. Email: obp@adfiap.org

agents of the issuance. Recently, China Bank announced that it was extending the waiver of fees for transactions via InstaPay and PesoNet until March 31. In December, the bank announced it was also able to keep its Baa2 rating with stable outlook from debt watcher Moody’s Investor Service amid an ongoing economic slump. The credit rating agency attributed this to stable capital position and profitability.

China Bank saw its net income increase by 23 percent to P8.2 billion in the first nine months of 2020 on the back of robust core businesses. Net earnings for the third quarter last year alone, meanwhile, improved by 21 percent to P3 billion year-on-year. Provisions for potential credit losses were up by 12 times to P6.3 billion as of end-September 2020. In the same period, its nonperforming loans ratio and NPL coverage stood at 2.5 per-

cent and 104 percent, respectively. The bank’s capitalization rose by 9 percent to P101 billion as of end-September last year. Capital adequacy ratio stood at 13.99 percent for the period, which is above minimum regulatory requirement. Shares in China Bank climbed by 0.21 percent, or 5 centavos, to close at P24.10 each amid the 1.68-percent drop for the benchmark index on Thursday.

Relationships

Friday, February 19, 2021 • Editor: Gerard S. Ramos

BusinessMirror

Single on Valentine’s Day and happily so

By Elizabeth Brake Rice University

N this pandemic year, many people are focused on how to have a socially distanced romantic dinner or prepare the perfect date night at home. There’s nothing wrong with celebrating romantic love, but the focus on such celebrations drowns out the voices of those who are fine as they are—single and happily so. As I’ve argued in my research on the ethics and politics of the family, social practices that celebrate romance, while ignoring the joys of friendship and solitude, reflect widespread assumptions. One is that everyone is seeking a romantic relationship. The second is more value-laden: Living in a long-term romantic, sexual partnership is better than living without one. This fuels beliefs that those living solo are less happy, or lonelier, than couples. These assumptions are so prevalent that they guide many social interactions. But research shows they’re false. The truth is that more Americans are living unmarried and without a romantic partner. In 2005, the census for the first time recorded a majority of women living outside of marriage. By 2010, married couples became a minority in the United States. While many unmarried people may have romantic partners, a 2017 Pew survey showed more young adults were choosing to live single. Personal finances likely play a role in such choices. Millennials are worse off than earlier generations. There is a proven connection between economic resources and marriage rates—what legal scholar Linda McClain calls “the other marriage equality problem.” Lower incomes correlate with lower rates of marriage. But changing family patterns are not simply the result of financial instability. They reflect choices: Not everyone wants romantic partnership and many single people see solo life as more conducive to flourishing and autonomy. As I show in my book Minimizing Marriage, people have many different political or ethical reasons for preferring singlehood. Some women become single mothers by choice. As sociologist Arlie Hochschild has argued, marriage brings extra work for women, making it less attractive than single life for some. For other people, being single is simply a relationship

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Today’s Horoscope By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Benicio Del Toro, 54; Seal, 58; Jeff Daniels, 66; Smokey Robinson, 81. Happy Birthday: Strive for harmony, and you’ll gain peace of mind. How you interact with others and do your best to be part of the solution, not the problem, will help pave the way to a brighter future. Refuse to let petty differences stand between you and your happiness. Assess situations and prepare to make this a year to remember. Having patience will deflect problems. Your numbers are 9, 14, 20, 27, 39, 41, 45.

ARIES (March 21-April 19): Be receptive to ideas presented to you. Something someone shares will set the foundation for an idea that can help provide insight into something you want to pursue. Refuse to let what someone thinks discourage you from following your dream. HHH

TAURUS (April 20-May 20): Do whatever it takes to live up to your promises. It’s what you accomplish, not what you allude to, that will ultimately turn heads. Show passion in all that you aspire to, and rewards will follow. HHH

GEMINI (May 21-June 20): Look, and you’ll find a way to get what you want. Taking a back seat to someone manipulatively trying to outdo you is not acceptable. You have plenty to offer, and it’s time to strut your stuff and make things happen. HHH

CANCER (June 21-July 22): Use your charm to get your way. A chance to show off what you have to offer will draw attention from someone who can give you the boost you need. Opportunity is within reach, but only if you can adapt to change. HHHH

e preference or even an orientation. For example, there are those, referred to as “asexuals” and “aromantics,” who lack interest in sexual and romantic relationships. Who are asexuals and aromantics? Data from a 1994 British survey of more than 18,000 people showed 1-percent of the respondents to be asexual. Because asexuality is still little-known, some asexual people might not identify as such. And so, it’s possible that the true numbers could be higher. Asexual people do not feel sexual attraction. Asexuality is not simply the behavior of abstaining from sex, but an orientation. Just as heterosexual people feel sexual attraction to members of a different sex, and gay and lesbian people feel attraction to members of the same sex, asexual people simply

do not feel sexual attraction. Asexual people can have romantic feelings, wanting a life partner to share intimate moments with and even cuddle—but without sexual feelings. But some asexual people are also aromantic, that is, not interested in romantic relationships. Like asexuality, aromanticism is an orientation. Aromantics may have sexual feelings or be asexual, but they do not have romantic feelings. Both asexual people and aromantics face a lack of understanding. Angela Chen, a journalist who wrote a book about asexuality, reports that her asexual interview subjects suffered from a lack of information about asexuality. As they failed to develop sexual attractions during

Continued on B5

VIRGO (Aug. 23-Sept. 22): Live in the moment, learn from the experience and pour your energy into something you find fulfilling. Taking a stroll down memory lane will be a good reminder of what you don’t want to pursue. Embrace new beginnings. HH

LIBRA (Sept. 23-Oct. 22): You’re ready to take on the world. Let negativity go. Allow a positive attitude, new ideas and the desire to make a difference to someone or something you cherish take over. Your discipline and hard work will pay off. HHHHH

SCORPIO (Oct. 23-Nov. 21): Mixed emotions will get in the way of success. Decompartmentalize what you have to accomplish, and it will be easier to complete your responsibilities. One step at a time is all it takes. Start the ball rolling. HHH

Kitchen workshops are going virtual Moms and dads, here is your chance to improve your way around the kitchen. The Maya Kitchen workshops are back and better than ever as it goes virtual, giving families a chance to learn how to cook and bake right in the comfort of their home. But that’s not all—with these classes all conducted live via Zoom, they can improve their kitchen skills with the expert guidance of a chef instructor, who will provide step-by-step coaching for every recipe you’ll cook or bake along. Once the user has registered for a virtual workshop, The Maya Kitchen will send the course outline, a recipe card, and a preparation sheet that’s complete with a shopping list, a rundown of required equipment, and some setup tips, so all participants will be set when the Zoom class begins. During the class, the chef instructor will walk everyone through the recipe steps and cook or bake along with them, answering any questions they may have and giving tips. The virtual workshops this month, with each class priced at P2,000, will be conducted by in-house instructor Chef Dan Wilford B. Libunao and guest instructors Chef Heart Cadiente and Chef Carla Asence. Partcipants can up their baking skills by signing up for the Basic Cakes Class on February 20 at 1 to 3 pm. As part

LEO (July 23-Aug. 22): Settle into something that feels comfortable. It will ease stress and encourage you to follow a path that is more to your liking. Love and romance are on the rise. Spending more time with someone who enhances your life is favored. HHHH

of the Baking for Beginners Class Series, this workshop will tackle basic baking know-how such as baking ingredients and proper measurement techniques, so everyone can bake with confidence every single time. Learn all of these and bake Ube Chiffon Cake and Butter Cake along with a chef instructor. On February 24 at 10 am to 12 nn is The Maya Kitchen’s Cupcake Class. Participants will learn two unique cupcake recipes and a nontraditional icing that can be paired with any cupcake. The workshop gives participants the chance to make Mango Cupcakes and Cookie Butter Cupcakes with Burnt Butter Cream Cheese Icing and introduce new treats to family and friends. Want to cook something new for family and friends? The Maya Kitchen holds the Spanish Cooking Class on February 27 at 1 to 3 pm. While Spanish cooking has in some ways influenced Filipino dishes, there’s still more to learn about its culinary traditions. Through this workshop, get to learn new Spanish recipes Pollo Ajillo or classic Spanish garlic chicken and Tarte de Queso or Basque cheesecake that families will surely appreciate. More information on the workshops is available at The Maya Kitchen’s social-media pages.

SAGITTARIUS (Nov. 22-Dec. 21): The past will be your best reference when you want to move forward or start something new. Don’t rely on others when it’s the experience you have that will point you in the right direction. Love and romance are on an upswing. HHH

CAPRICORN (Dec. 22-Jan. 19): Stay on course. Don’t deviate from your plans or let anyone push you in a direction you don’t want to go. Change begins with you; make decisions that will set you up for success. Live life your way. HHHH

AQUARIUS (Jan. 20-Feb. 18): Take your time. Listen carefully, and consider the effect your words will have on others. Getting along with others will be half the battle when you are trying to get things done. When you disagree, say little and proceed to do as you please. HH

PISCES (Feb. 19-March 20): Put more energy into getting ahead. Connect with people who owe you a favor or those who have something to offer that will help you reach your goal. A positive change will enhance the knowledge and experience you have accumulated. HHHH Birthday Baby: You are intuitive, persuasive and proactive. You are bold and judicious.

‘that’s a plus!’ by dylan schiff The Universal Crossword/Edited by David Steinberg

ACROSS 1 Common post-wedding title 4 Hang, as a poster 9 Puzzle in which an eye may stand for “I” 14 “Hold on a ___!” 15 The Princess Bride character Montoya (hidden in “mini golf”) 16 Intelligent 17 Place for a + 19 Church official 20 Island country northwest of Tuvalu 21 High vocal range 23 Margarita garnish 24 Amazon series about an LA detective 27 ___-Manuel Miranda (Hamilton creator) 28 Device for depositing a check 29 Place for a + 32 Kamala Harris, e.g., slangily 34 Seasonal shot target 35 Tres - dos 36 Place for a + 42 December 24 or 31 43 “Goodness gracious!”

44 Trig function used to model light waves 45 With 60-Across, place for a + 49 Physicians’ degs. 50 Charged particle 51 Term of endearment 53 Wetlands wader 54 Mathematical collection with nothing in it 57 Alphabetically last noble gas 59 Online business 60 See 45-Across 64 Movement founded by Tarana Burke 65 Armani competitor 66 Pencil remnant 67 “___ we all?” 68 Act expressively 69 No. such as 4.0 DOWN 1 Alternative to AOL 2 Got back together 3 Skedaddled 4 Ship’s docking place 5 Remove from a mailing list, briefly 6 ___-tac-toe 7 State sch. in Athens

8 Genre for a physics article aimed at a general audience, informally 9 Invitation letters 10 Islamic title 11 Hollywood legend Lauren 12 Muse of astronomy 13 ___ as an ox 18 Take to court 22 “Yeah, right!” 23 Kilauea output 25 Scandinavian capital 26 Went for, as a baseball 30 Nestle ___-Caps 31 Pocket watch chains 33 Their crusts are crimped 34 Savage 37 Sports bar fixtures 38 Mani’s counterpart 39 Bending over backward? 40 Turning out to be 41 Disorganized state 45 Film industry 46 Device that directs internet traffic 47 Like a show that starts at 11 p.m. 48 Power problem 52 On the money

3 Shoo-___ (sure winners) 5 55 Roar source 56 Narrow opening 58 Actress Falco 61 Low drone 62 Green prefix 63 Kings’ and Wizards’ org.

Solution to Tuesday’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

Editor: Gerard S. Ramos

• Friday, February 19, 2021

Iñigo comes for air IRRELEVANT STAR

THERE’S a guessing game going around as to the identity of this star who was mean to a sexy and engaging newcomer over a dressing room. The star allegedly questioned why she was sharing a dressing room with an unknown during a live broadcast for a TV show (when this was still a thing). The newcomer couldn’t do anything but look for another dressing room where she could have her hair makeup done. But the newcomer never got over the star’s deliberate cruelty and harsh words. To think that when that happened, she was more relevant than the star who wouldn’t share a dressing room. The star doesn’t even have a show or an endorsement right now.

OFT rock as genre of music is usually scoffed at. Music critics, especially the young ones, blast soft rock as too commercialized, too formulaic and, uhm, too soft. But it is those three elements critics often malign that, for me, make soft rock a genre to listen to again with fresh ears. There are a lot of musical gems in your tita playlist, like from Kenny Loggins, Michael McDonald, Hall & Oates, Bread and, of course, Air Supply. I remember years ago when Air Supply had a concert at the Araneta Coliseum, I really wanted to go. A lot of my friends raised their carefully drawn eyebrows to the heavens when I told them about this. Baduy was the word they used to dismiss my fixation, telling me that spending a good chunk of money to watch them would be a waste. I insisted on the merits of their songs and how these were underrated and should be considered pop classics. “Lost in Love” for me is their best song. Simple yet melodic, with perfect lyrics. It’s the perfect pop song actually. And then there’s “All Out of Love,” a painful rock ballad that starts subtly, before a lush orchestra comes in the middle; then a reflective middle eight appears (“What are you thinking of?”), finally punctuated by that long, high note. “All Out of Love” was a smash back in the 1980s, but the song title might as well be what young listeners, with all their exposure to electronic dance music, modern R&B and hip-hop, nowadays feel about the song—and Air Supply in general. That is why Air Supply members Russell Hitchcock and Graham Russell were so delighted that their song has been revived by Iñigo Pascual so that the Gen-Z market may appreciate it. “It’s very flattering to start with, that someone would pick our song and re-record it for this generation. I have been singing that song since 1978, and it never gets tired for me,” Hitchcock said in a media conference to promote the single launch as well as the Valentine online concert of the duo. “This development is great because it means the song is transcending generations,” Russell said. “There are going to be many more people that will hear it,” he added.

NO TO THE PUSHY ONE

SO the pushy starlet auditioned for a role in the new high-profile show being put out by a network. Unfortunately for the starlet, the network went for someone who was less popular but who has more acting experience. To be fair to the starlet, the people behind the show seriously considered going for her because of her popularity but they were afraid of the possible consequences for the male lead. It’s known that whoever the starlet attaches herself to will no longer have a career once she is done because her fans are even pushier than her.

CAMPAIGNING IÑIGO PASCUAL

In Iñigo’s version, gone are what I considered the highlights of the song. No more orchestra, no more high notes, no more glam rock guitar drops, but the original hugot of the song is still there. Iñigo does a low-key performance filled with a vibrato that got the thumbs-up from the Graham and Hitchcock. They also praised Moophs AKA Chris Lopez of Tarsier Records, who led the production of the song, with Hitchcock musing, “The harmonies are amazing. Right arrangement. It’s like a perfect thing.” “All Out of Love” is just the first in Tarsier Records’ series of Air Supply remakes that will be spread out this 2021. “You can expect a few more remakes by different artists and then we’ll compile them into an album at the end of the year,” Moophs shared. Glad to hear that Air Supply, Moophs and Iñigo aren’t all out of music. nnn Thanks to Netflix, I was able to watch again The House Arrest of Us, starring Kathryn Bernardo and

Daniel Padilla. The series, which debuted on the streaming platform recently, instantly won the hearts of viewers because I think it’s relatable, amusing, a heartwarming story about a newly engaged couple. It delves into the challenges Quencess (Kathryn) and Korics (Daniel) must face as they make their engagement official via the Filipino tradition of pamamanhikan, only to find their families quarantined under one roof due because of a pandemic. It’s cute, funny and even touching in many moments and very easy to binge on. The popular romantic dramedy series also stars Ruffa Gutierrez, Herbert Bautista, Dennis Padilla, Arlene Muhlach, Gardo Versoza, Alora Sasam, Riva Quenery, Anthony Jennings, and Hyubs Azarcon. Directed by Richard Arellano, the 13-episode program had its premiere last October 2020 on www. ktx.ph. The series dropped weekly new episodes on ABS-CBN’s streaming service iWantTFC. n

‘I Can See You’ now on Netflix; tasty treats on TV FEBRUARY is shaping up to be an exciting month for audiences as GMA’s drama anthology I Can See You is now streaming on Netflix. The groundbreaking program, which aired on GMA in September last year, further solidifies the network’s mission of being a catalyst in creating world-class programs and reinforcing its online presence as it joins the network’s internationally acclaimed prime-time series Descendants of the Sun Philippines on the massively popular video streaming platform. I Can See You, which features four mini-series produced by four different teams, uses a common visual storytelling device—the use of a camera as a witness to the tales of love and mystery from everyday people. Thus, the title I Can See You. First to be streamed on February 15 was “Love on the Balcony” top-billed by Alden Richards, Pancho Magno and Jasmine Curtis-Smith. It tells the timely story of a wedding videographer, Gio (Alden), who crosses paths with a frontline nurse, Lea (Jasmine). After their unfortunate initial encounter, romance eventually blossoms between Gio and Lea amid the pandemic. Top billed by Andrea Torres, Yasmien Kurdi, Benjamin Alves and Paolo Contis, “The Promise” streams on March 1. The story begins with a wealthy widower named Frank (Paolo) who loses his passion for life and becomes a recluse after losing his wife Clarisse (Yasmien) from an accident. When Jude (Benjamin), his cousin and right-hand man in the company, visits him in the lake house where he stays at, Frank takes an interest in the latter’s girlfriend Ivy (Andrea), an aspiring artist who is willing to do anything to take her family out of poverty. Heating up online streaming experience on March 15 is the third installment “High-Rise Lovers,” starring Lovi Poe, Winwyn Marquez and Tom Rodriguez. It follows the story of married couple Samantha (Lovi) and Luis (Tom) whose relationship dwindles as their opposing goals in life get the best of them. The mysterious and sultry Ysabel (Winwyn) complicates matters. Finally, set to bring mystery and romance on March 29 is the last installment “Truly. Madly.

THERE are rumors that the powerful personality, who is one of the endorsers of a corporation, was not enticed to represent the brand as is usually the case when they want to hire celebrities. He, according to the grapevine, reportedly approached the head of the company and volunteered his services. The powerful personality took a cut on his usual professional fee just to be able to do it because he wants and need the mileage for future plans. What plans are these exactly? We can’t tell for now but sources said these plans are political in nature. He will reportedly seek higher office.

GATEKEEPERS

THIS couple is known for their strange ways of gatekeeping their lifestyle. They like to project that their lifestyle is all-natural and go to great lengths to protect this image of theirs. Even at home, the couple abhors noise of any sort. Their household staff knows better than to make noise. Now that they have a child, the couple is even more protective of the lifestyle they have. In the community where they live, the couple is notorious for complaining about every little external noise. These noises, which they call disturbances, can include things like children playing and dogs barking or even cars passing by.

Single on Valentine’s Day and happily so Continued from B4

FROM left: Winwyn Marquez, Tom Rodriguez and Lovi Poe in I Can See You

Deadly.” headlined by Dennis Trillo, Rhian Ramos and Jennylyn Mercado. Coleen (Jennylyn) is a professional woman who, after being ridiculed online for a scandal with a married man, moves out of the city and works in a remote resort where she meets the mysterious resident IT guy named Drew (Dennis). Life seems to be going well for the recovering Coleen until her frenemy Abby (Rhian) shows up and her past begins to haunt her once again. I Can See You is now streaming on Netflix. Meanwhile, GMA and Ajinomoto Philippines Corp.’s ongoing partnership Eat Well, Live Well, Stay Well has been enjoying an avid fan base since debuting in January, with audiences learning about how to keep their overall well-being with nutritious and mouthwatering dishes. Every week, Iya Villania-Arellano shares delicious and healthy recipes with the help of Chef Jose Sarasola. Eat Well, Live Well, Stay Well is a 10-minute cooking show which aims to inspire the audience to cook through their stories and discover themselves through food. Iya plays a bubbly and modern mom, who strives to improve her cooking skills and adapt to

the new normal while still putting her family as her top priority. As a hands-on mommy and fitness enthusiast herself, Iya wishes to encourage her fellow parents to cook up nutritious and delightful meals for their families: “We all know how a good meal can bring the whole family together. A good meal always makes everyone happy. Here’s a show that can give parents great tasting meal ideas that will make them feel great and confident in putting simple, yummy, and quick dishes using the versatility of Aji-No-Moto Umami Seasoning and Aji-Ginisa Flavor Seasoning Mix.” Chef Jose is beyond grateful to be the resident chef of the show and hopes to inspire the viewers to live a healthier lifestyle: “I’m super excited for this project. It’s my first time doing this kind of cooking show and being picked by a well-known food company like Ajinomoto Philippines Corp. to be the show’s resident chef was really something. Since we are in a time when health must be our top priority, the recipes we prepare for our viewers are perfect for those who wish to be fit and start eating healthier this year.” Eat Well, Live Well, Stay Well airs Fridays, 11:20 am, on GMA.

puberty—while their classmates did—they asked themselves, “Am I normal? Is something wrong with me?” But while asexuality is sometimes misunderstood as a medical disorder, there are many differences between an asexual orientation and a medical disorder causing a low sex drive. When asexual people are treated as “abnormal” by doctors or therapists, it does them a disservice. Since the early 2000s, asexual people have exchanged ideas and organized through online groups. One such group, The Asexual Visibility and Education Network, for example, promotes the understanding that lack of sexual attraction is normal for asexual people, and lack of romantic feelings is normal for aromantics. Asexual people, like aromantics, challenge the expectation that everyone wants a romantic, sexual partnership. They don’t. Nor do they believe that they would be better off with one. Far from the stereotype of the lonely single, lifelong singletons are less lonely than other older people, according to psychologist Bella DePaulo, the author of Singled Out. Nor are singles alone. Many singles have close friendships which are just as valuable as romantic partnerships. But assumptions that friendships are less significant than romantic partnerships hide their value. Understanding the reasons people have for remaining single might help to handle family pressures. If you’re single, you could take unwanted questioning as a teachable moment. If you’re the friend or family member of someone who tells you they’re happily single—believe them. And if you’re single next Valentine’s Day, consider celebrating the varied loves of your life: your friends, your family, your furry companions, and, most of all, yourself. THE CONVERSATION

B6 Friday, February 19, 2021

BPI-Philam powers through uncertainty, wins Global Insurance Awards 2020

ANCASSURANCE leader BPIPhilam capped off 2020 as the World Finance Best Life Insurance Company in the Philippines for the fourth consecutive year. The international business and finance publication recognized BPI-Philam’s agility and innovation, which helped it exemplify calm out of chaos amid a climate of uncertainty brought about by the COVID-19 pandemic. “Uncertainty continues to prevail amid the pandemic, but we’re optimistic that we will recover sooner rather than later. It is important for us at BPI-Philam to represent stability for customers at this time and to guide them throughout. This award from World Finance is a recognition of the concerted effort of all our employees, the management, and customers to push our own limits in the hope of a better future after this crisis,” said BPI-Philam Chief Executive Officer Surendra Menon. Observing a greater awareness of the value of insurance among Filipinos from the beginning of the pandemic, BPI-Philam accelerated its digital transformation even further in its race against risk to close the protection gap in the Philippines. In 2020, it launched MedLife Protect Plus, an investment-linked life and health insurance that provides policyholders access to medical care and protection. The year also saw the introduction of Bessie, the new virtual assistant on Facebook Messenger and Viber to help customers with basic life insurance policy inquiries and concerns – anytime, anywhere. The timely launch of both offerings is a testament to how BPI-Philam is attuned to the needs of customers. In addition, the bancassurance leader strengthened its iPoS (interactive point-of-sale) platform to facilitate online applications, as well as ePlan, the online portal where customers can personally manage their policies. Developed even prior to COVID-19, the iPoS and ePlan both address consumers’ evolving

preference for convenient and ondemand service delivery, allowing BPIPhilam to continue securing lives even under lockdown.

‘Healthier, longer, better lives’ campaign

World Finance recognizes that the insurance industry is uniquely equipped to cope with a disaster. BPI-Philam might be in the business of preparing for the worst, but it strongly advocates wellness and helping people bring their dreams to life. It offers a Wellness Series, a suite of protection solutions powered by Philam Vitality that reward customers as they pursue their healthy lifestyle journey. Philam Vitality is a sciencebacked health and wellness program that extends perks and benefits like premium discounts, additional insurance coverage and add-ons, incentives, and lifestyle rewards from partner establishments. Customers subscribed to insurance policies integrated with Philam Vitality earn corresponding points for the healthy choices they make such as eating right, going to the gym, or going for a health screening. BPI-Philam noted that

despite the limited movement allowed during the community quarantine, overall engagement of customers in the program decreased by only around four percent, suggesting that people are still staying active even while stuck at home. “We’re still a long way away in our race against risk but seeing that Filipinos have increasingly become protective of their long-term future serves as a great push for BPI-Philam. We’ve always worked on helping people help themselves through accessible and affordable solutions that address life’s uncertainties. Heading into 2021, we’ll continue to power through the challenges to maintain the high quality of service that our customers have come to expect,” Menon said. BPI-Philam is the bancassurance arm of AIA Philam Life in the Philippines. With over 11 years of leadership in the industry, BPI-Philam is dedicated to help Filipinos protect what matters, prepare for the unexpected, and plan the best future. More information about products and services is available at the website <bpi-philam. com>, thru Bessie <https://m.me/ BessieofBPIPhilam>, or on Facebook <fb.com/BPIPhilamOfficial>.

Vitamin C + Calcium = Calcium Cee: Boosting our immunity throughout the seasons

S the seasons change, we need to protect ourselves from all kinds of diseases that low and high temperatures can bring. In the Philippines, the first two months of the year are known for chilly weather, and this can cause colds, coughs, fever, and flu. And not to forget that the COVID-19 virus is still out there. That is why we have to strengthen our immune system in as many ways as we can. One of the best immunity boosters is our daily dose of Vitamin C. Vitamin C is a powerful antioxidant that

can neutralize harmful free radicals. It also plays a role in controlling infections and healing wounds. We get our Vitamin C from many fruits and vegetables like apples, asparagus, berries, broccoli, cabbage, melon, watermelon, and cauliflower; citrus fruits like lemons, limes, and oranges; kiwi; fortified food like bread, grains, and cereals; dark leafy greens like kale and spinach; peppers; potatoes; and tomatoes. When these sources are not available, however, we can take food supplements that contain Vitamin C.

But before we take just any Vitamin C supplement, we have to make sure that it is one that is most beneficial to our wellbeing. Now, when combined with calcium, Vitamin C becomes even more potent. Together, Vitamin C and calcium form calcium ascorbate, a formulation that gets rid of the acidity of pure Vitamin C. This is essentially what Calcium Cee is made of. With a pH level between 7.2 and 7.4, it is safe to take even on an empty stomach while still providing the benefits of both of these nutrients. That is why we can take Calcium Cee any time and anywhere, without the acidity. This formulation also makes it safe to take in higher doses, especially for those who really need the extra vitamins. Calcium Cee is a very good source of Vitamin C that fortifies our immune system. Taken regularly with Vitamin C-rich food, it shields us from the harmful effects of the elements and erratic temperatures, to help keep us healthy and strong every day. Calcium Cee also reinforces bone density, eases stress, manages blood pressure, boosts collagen formation, helps repair tissues, and preserves clear eyesight, among other benefits. Calcium Cee is available at Mercury Drug (https://www.mercurydrug.com/) and Watson’s (https://www.watsons. com.ph/calcium-ascorbate-1-tablet/p/ BP_10076743). Merry mart, All day and Alturas Bohol . For more details, visit Calcium Cee on Facebook: https://www. facebook.com/calciumc/. Or call Calcium Cee hotline: 09175642233.

Young entrepreneur shares success amid pandemic, reveals expansion plan

OR young CEO and company president Emmanuel ‘Mannix’ Carrancho, Jr., business and Tiktok go along well together. At 22, Carancho established his business, Prestige International, maker of quality, affordable and effective skin care products. Winning the hearts of many as resellers earn money while clients get best results from their skin problems, the business grew exponentially and now reaching Filipinos overseas in Hongkong and Singapore. During the pandemic, however, Carancho was having anxiety attacks due to lockdown and restriction movement. And thus, he discovered Tiktok, tried it and found relief from his depression. Reaching over 600 followers, today, he uses Tiktok to his business advantage for product and promo announcements. The soft-spoken company owner started coming out of his shell, befriending other Tiktokers as well who also endorse his products. The video-sharing social networking service which is used to make a variety of short-form videos, from genres like dance, comedy, and education, that have a duration from three seconds to one minute, is a great help according to Carancho. Today, he is doing collaboration work for the country’s Tiktokers to further promote his business. This is aside from the roster of upcoming celebrities under his two-year old co-talent management business with Amanda Salas. So aside from the day-to-day sales management of Prestige, Carancho is also busy helping talents build careers in show business through Mannix Carancho Artist and Talent Management firm, among them, are Bidaman Miko Gallardo, Rhed Bustamente, Johannes Rissler, Jervy Delos Reyes, John Paddila, Alliyah, Dennis Delgado,

PRESTIGE International CEO and President Mannix Carrancho Adrian Clarence, CJ Rada, Rosemarie Tan, and Charly Depositar. And to further harness the power of social media, Carancho and his team has also launched MannixTV on YouTube. Mannix got his entrepreneurial skills from his parents, both jewelry pawnshop owners, who trained him and his siblings in the business, in their young age. At 17, he had his own gadget pawnshop and a beauty parlor which still operates to this day in his hometown in Pangasinan. Now 28 years old, Mannix feels he has everything and is content with his life and business success until he got inspired by fellow Filipino businessman Joel Cruz to dream and aspire bigger. And the more he becomes determined to expand his business every time he receives messages from people thanking him for Prestige products which either gave them income during the pandemic or had fulfilled their dream for car, house or financial success. “Nakakatulong pala ako, so why not lakihan ko pa ang negosyo ko para mas marami pa akong matulungan,” he said.

Metrobank reports 2020 net income increase, issues special dividends on strong capital position

ETROBANK reported a 26 percent increase in its net income before provisions, which amounted to P61.8 billion. In line with its strategy to build up reserves, the Bank booked provisions of P40.8 billion, resulting in a full year 2020 net income of P13.8 billion. Metrobank’s substantial capital also prompted the Board of Directors to declare a special cash dividend of P3.0 per share in addition to the regular dividend of P1.0 per share. “Our strategy of early and aggressive provisioning in 2020 has made Metrobank stronger and well-prepared to weather future risks. Despite the events of 2020, our core business remains solid and we remain ready to be a key partner in economic recovery. Our high capital buffer has given us the opportunity to distribute more dividends this year. We will continue monitoring economic conditions and considering strategies that will maintain a balance between strong capital and optimal returns,” said Metrobank President Fabian S. Dee. The Bank’s capital ratios are still among the highest in the industry. Based on December 2020 balance sheet, Metrobank’s capital adequacy ratio (CAR) is estimated to move from 20.2 to 19.1 percent and Common Equity Tier 1 (CET1) ratio from 19.3 to 18.2 percent after dividends. Both measures are still substantially higher than the 11.0 percent minimum regulatory threshold for CET1 and 10.0 percent for CAR. Non-performing loans have been manageable, with an NPL ratio of 2.41 from 1.30 percent in 2019. Nonetheless, the Bank has set aside P40.8 billion in provisions for bad loans, four times more than the P10.1 billion provisions booked in 2019. As a result, NPL cover went up to 163.0 from

103.0 percent in 2019 strengthening the bank’s capacity to withstand more bad loans. The growth in operating income was supported by strong revenues and improving operating efficiency. The 22 percent increase in low cost current and savings accounts (CASA) to P1.3 trillion, propelled total deposits to reach P1.8 trillion in 2020, reflecting the Bank’s solid deposit franchise. CASA ratio improved to 73 from 63 percent a year ago. Healthy CASA deposit generation helped ease the overall funding cost in 2020 and supported net interest margins, which improved by 14 basis points to 3.98 percent. As a result, net interest income rose 11.8 percent from the previous year. This was achieved amid a 13 percent contraction in gross loans to P1.3 trillion as the economic impact of the pandemic affected business and consumer confidence. Commercial clients trimmed working capital loans and deferred expansion plans while consumer customers limited spending to essential goods and deferred big ticket purchases. Non-interest income expanded by 20 percent, lifted by trading and FX gains of P19.2 billion as the Bank optimized its investment portfolio under a record-low interest rate environment. Growth in operating expenses was kept at 4 percent to P60.1 billion, underscored by continued efforts to enhance productivity and operational efficiency. Cost-to-income ratio improved to 50 percent from 55 percent previously. Metrobank ended 2020 as the country’s second largest bank with consolidated assets of P2.5 trillion.

Int'l healthcare firm names Medgate Ph one of the top telehealth providers in Asia Pacific

EDGATE Philippines was recently hailed as one of the top 10 companies at the forefront of telehealth solutions in Asia Pacific, for their contribution and impact to the healthcare industry. The recognition was given by Healthcare Tech Outlook, an international publication that highlights key healthcare technologies. Healthcare Tech Outlook is committed to shining a spotlight on how healthcare can be brought to new heights through technology and innovation. “Accessible and empathetic healthcare has always been a top priority at Medgate, it is part of our mission to provide both compelling and personalized medical care to patients across the country and our other markets,” says Stavros Athanasiou, President of Medgate Philippines. “We are honored to be recognized as a leading provider of telemedicine solutions in the region, especially now that so many Filipinos are in need of more convenient healthcare options amid the pandemic,” he adds. Since their launch in 2016, Medgate Philippines has served over 1.5 million patients, with a roster of doctors

in internal medicine, family medicine, pediatrics, and OB Gynecology among other specialties - allowing for patients to get a holistic form of care. Medgate Philippines is also one of the official telemedicine partners of the Department of Health (DOH). The partnership was forged during enhanced community quarantine and Medgate handled nearly 70,000 calls from patients all over the nation, at no cost to either the caller or the DOH. With this latest award under their belt, Medgate is empowered to expand their operations and reach even more Filipinos. “We are excited to further grow telehealth services in the country,” Athanasiou notes. “We’ve seen the power that telemedicine has to greatly improve the healthcare experience, so the next step is to make an impact on more lives through our strong brand of care that comforts.” Recently, Medgate Philippines was also recognized by Healthcare Insights and Capital Finance International as the “The Most Trusted Remote Medical Service Provider in the Philippines,” and “The Best Global Telemedicine Provider of 2020” respectively.

Sports BusinessMirror

mirror_sports@yahoo.com.ph / Editor: Jun Lomibao

OUT DOWN UNDER

Credentials play important role

REDENTIALS will be a major criterion for the selection of the national volleyball team coaches to the 31st Vietnam Southeast Asian Games. National team commission chair Tonyboy Liao told BusinessMirror that women’s coach Ramil de Jesus and his men’s counterpart, Dante Alinsunurin, have the edge considering their credentials in handling the national team. Alinsunurin coached the men’s squad to a milestone silver medal finish behind Thailand in the 30th SEA Games the country hosted in 2019, while de Jesus steered the women’s squad to the bronze medal in the country’s 2005 hosting of the biennial Games. “If I can have my way, I would prefer Ramil de Jesus and Dante Alinsunurin,” Liao said. The Philippine National Volleyball Federation Inc. (PNVFI) headed by Ramon “Tats” Suzara is operating under various departments, one of which is the sevenmember national team commission that will determine collegially select the national coaches. Liao said the national team commission will buckle down to work once the Inter-Agency Task Force for the Management of Emerging Infectious Diseases allows SEA Games-bound athletes to collective training. “We only have a very short time to prepare for the SEA Games, and, if possible, we’re also looking at the Asian Senior Championship in August [men’s in Japan and women’s in China],” he said. Liao’s commission is composed of Fe MejiaMoran, Grace Antigua, Mayie Molit-Prochina, Tina Salak, Michael Verano, Odjie Mamon, Oliver Mora, Beach Volleyball Republic founder Charo Soriano and Rebisco’s Rollie Delfino. The commission is tasked to also form the under-23, under-19 and under-17 national teams. The Vietnam SEA Games are set from November 21 to December 2 primarily in Hanoi. Josef Ramos

Nadal bows to young foe

NADAL

ELBOURNE—Rafael Nadal entered his Australian Open quarterfinal with a 223-1 record when grabbing the first two sets of a Grand Slam match. Thanks to his own mistakes—and some spirited play by Stefanos Tsitsipas—that mark is now 223-2. A couple of uncharacteristically sloppy overheads and a framed backhand in a third-set tiebreaker began Nadal’s undoing, and his bid here for a men’s-record 21st major championship eventually ended Wednesday with 3-6, 2-6, 7-6 (4), 6-4,

Ernest John “EJ” Obiena completes his three-country indoor campaign in Europe.

OKYO Olympics-bound pole vaulter Ernest John “EJ” Obiena capped his three-country indoor sortie with a bronze medal on Thursday, vowing to work harder for the Games that are only five months away. “It’s okay, but there is still a lot of work to be done,” Obiena told BusinessMirror on Thursday. Obiena, 25, cleared 5.80 meters but settled for the bronze medal at the Copernicus Cup in Torun, Poland. The US’s Sam Kendricks and hometown bet Piotr Lisek also did 5.80 meters but finished 1-2

7-5 loss to the younger, sharper Tsitsipas. “Was little bit of everything, no? I missed a couple of balls in the tiebreak that I shouldn’t—that I could not—miss if I want to win. And that’s it,” said Nadal, who briefly left the Spanish portion of his post-match news conference after clutching at his cramping right hamstring. “I have to go back home,” Nadal said, “and practice to be better.” At his put-the-ballwhere-he-wants-it best in the early going, Nadal went ahead rather easily, winning 27 consecutive points on his serve in one stretch and running his streak of consecutive sets won at major tournaments to 35, one shy of Roger Federer’s record for the professional era. Nadal and Federer are currently tied at 20 Grand Slam singles titles, more than any other man in the history of a sport that dates to the late 1800s. But Tsitsipas never wavered and that surprisingly poor tiebreaker by Nadal— thinking too far ahead, perhaps?—helped hand over the third set and begin the epic comeback. “I started very nervous, I won’t lie,” the fifth-seeded Tsitsipas said. “But I don’t

Obiena: Still a lot of work to be done

for clearing the pole in their earlier attempts. Obiena maximized the indoor season, winning gold medals in Ostrava and Berlin in Germany. He also clinched silver at the Orlen Indoor Cup in Lodz, Poland. He also competed in France. Obiena said the fast-approaching Olympics are well set in his mind. “That should be [Olympics] where I really need to perform my very best—that’s the goal,” he said. “Everybody there is aiming for the gold, and all athletes have the same chance.” Obiena will fly back to the World Pole

Vault Centyre in Formia, Italy, with his Ukrainian Coach Vitaly Petrov. Obiena is one of four Filipinos who have so far qualified for the Olympics. The others are boxers Eumir Felix Marcial and Irish Magno and world champion gymnast Carlos Yulo. Marcial is training at the Wild Card gym in Los Angeles, California, while Magno is honing at the Inspire Sports Academy bubble in Calamba. Yulo, on the other hand, continues to train in Japan. The Olympics are set from July 23 to August 8. Josef Ramos

560-ATHLETE TEAM PHL TO VIETNAM SEAG By Josef Ramos

color] in the 2019 SEA Games that we hosted,” Tolentino said. HE country will be fielding 560 “We also looked at events where athletes who will compete in the potential of winning the gold 38 sports in the 31st Southeast medal is very high, as justified by Asian Games that Vietnam is hosting an athlete or athletes performance later this year. in 2019.” Philippine Olympic Committee As host in 2019, the country (POC) President Rep. Abraham fielded its biggest ever delegation TOLENTINO “Bambol” Tolentino made the at 1,115 athletes. announcement on Thursday, adding that the The Vietnam organizers set a March 21 athletes will be vying in 560 events in the deadline for the submission of entries by Games set from November 21 to December 2. numbers. The deadline for the entries by names Tolentino, however, said the number is in August. could still be reduced as they are basically The list was presented and approved entries by numbers culled from discussions by the POC executive board which met on with the various national sports associations Thursday afternoon at the East Ocean Seafoods early this week. Restaurant in Parañaque City. “The basis of selection primarily hinged Team sports make up the bulk of team on those athletes who won medals [of any Philippines, Tolentino said.

“For basketball we already have 38 for both men and women and we also have 3X3,” he said. “Volleyball has 36 also for men and women, plus the beach volleyball. Aquatics has 17.” The Philippines emerged overall champion in 2019 with a huge haul of 149 gold, 117 silver and 121 bronze medals. But Tolentino said that would be a tough act to repeat in Vietnam. “It’s going to be the best effort of every athlete,” he said. The list, he added, would be forwarded to chef de mission Ramon Fernandez and to the Philippine Sports Commission. Tolentino said discussions on the budget for training, preparation and participation will immediately proceed. “Now that we have the figures to work around on, matters on budget and funding could now be discussed,” he said.

Woman’s in charge of Tokyo Olympics

and was one of three final candidates considered by a selection committee headed by 85-year-old Fujio Mitarai of the camera company Canon. The selection committee met for three consecutive days, a rushed appointment with the postponed Olympics opening in just over five months in the middle of a pandemic and facing myriad problems. Polls show about 80 percent of Japanese want the Olympics canceled or postponed again. There is fear about bringing tens of thousands of athletes and others into Japan, which has controlled the coronavirus better than most countries. There is also opposition to the soaring costs. The official cost is $15.4 billion, though several government audits say the price is at least $25 billion, the most expensive Summer Olympics on record according to a University of Oxford study. Naming a woman could be breakthrough for gender equality in Japan, where females are under-represented in boardrooms and in politics. Japan ranks 121st out of 153 countries on the World Economic Forum’s annual gender equality ranking. AP

hashimoto

OKYO—Seiko Hashimoto appeared in seven Olympics—four Winter Olympics and three Summer Olympics. According to historian Dr. Bill Mallon, her seven appearances is the most by any “multi-season” athlete in the games. Hashimoto was set to make even more history on Thursday in Japan, where women are still rare in the boardrooms and positions of political power. The 56-year-old Hashimoto, according to widely circulated media reports, was expected to be named president of the Tokyo Olympic organizing committee. She was to be confirmed

Friday, February 19, 2021 B7

by the executive board on Thursday and replace 83-year-old Yoshiro Mori, a former Japanese prime minister who was forced to resign last week after making sexist comments about women. Essentially, he said women talk too much. Hashimoto has been serving as the Olympic minister in the cabinet of Prime Minister Yoshihide Suga. She also holds a portfolio dealing with gender equality and women’s empowerment. She competed in three Summer Olympics (‘88, ‘92 and ‘96) in cycling and in four Winter Olympics (‘84, ‘88, ‘92 and ‘94) in speedskating. She won a bronze medal—her only medal— in 1992 in at 1,500 meters in speedskating. Hashimoto is tied to the Olympics in many ways. She was born in Hokkaido in northern Japan just five days before the opening ceremony of the 1964 Tokyo Olympics. Her name “Seiko” comes from “seika,”which translates as Olympic flame in English. According to widely circulated reports in Japan, Hashimoto was reluctant to take the job

know what happened after the third set. I just flied like a little bird. Everything was working for me. The emotions at the very end are indescribable.” As Tsitsipas played, in Nadal’s estimation, a “very, very high level of tennis” over the last two sets, the 34-yearold Spaniard’s play dipped considerably. Nadal made a total of only 10 unforced errors in the first two sets combined, then 32 the rest of the way—11 in the third, 14 in the fourth, seven in the fifth. The only other occasion in which Nadal went from a two-set advantage to a defeat in a Slam came at the 2015 US Open against Fabio Fognini (who just so happened to have lost to Nadal in the fourth round at Melbourne Park this year). So now, instead of Nadal attempting to surpass Federer, it will be Tsitsipas—a 22-year-old from Greece with a flashy game—who will meet 2019 US Open runner-up Daniil Medvedev in the semifinals Friday. Neither Tsitsipas nor Medvedev has won a Grand Slam tournament. AP

...and so does Serena

ELBOURNE—As Serena Williams walked off the court after her latest so-close-yet-so-far bid for a 24th Grand Slam title ended with a loss to Naomi Osaka at the Australian Open, the 39-year-old American paused and put her hand on her chest as thousands of spectators rose to applaud. Was this, Williams was asked at a news conference after the 6-3, 6-4 semifinal defeat, her way of saying goodbye? “If I ever say farewell,” she replied with a smile, “I wouldn’t tell anyone.” When the next question returned the conversation to the subject of Williams’s many mistakes Thursday—twice WILLIAMS as many unforced errors, 24, as winners, 12— she shook her head, teared up, said, “I’m done,” and

abruptly ended the session with reporters. Once again, Williams played well enough to get to the closing days of a major tournament. And once again, she couldn’t quite get the job done in order to add one more Grand Slam trophy to her collection of 23 and equal Margaret Court for the most in tennis history. Osaka, who also beat Williams in the chaotic 2018 US Open final, reached her fourth major title match and stretched her winning streak to 20 matches by claiming the last eight points. “I don’t know if there’s any little kids out here today, but I was a little kid watching her play,” Osaka, 23, said about Williams, “and just to be on the court playing against her, for me, is a dream.” The No. 3-seeded Osaka’s Grand Slam collection also includes last year’s US Open and the 2019 Australian Open and she is, without a doubt, the most dangerous hard-court player in the women’s game at the moment. That used to be Williams, of course. But she was off-target too much in this contest. “I could have won. I could have been up 5-Love,” said Williams, who instead took a 2-0 lead at the outset before dropping the next five games. “I just made so many errors.” Her forehand, in particular, went awry, with no fewer than 10 unforced errors off that side in the first set alone. “Too many mistakes there,” she said. “Easy mistakes.” Williams’s frustration was made plain early in the second set, when she leaned over and screamed, “Make a shot! Make a shot!” After collecting her professional era-record 23rd Slam singles trophy at Melbourne Park while pregnant in 2017, Williams reached four major finals and lost them all. AP

Motoring BusinessMirror

Henry Ford Awards Best Motoring Section 2007, 2008, 2009, 2010 2011 Hall of Fame

Editor: Tet Andolong

B8 Friday, February 19, 2021

Mitsubishi turns over L300 utility vans to Orix Rental Corp.

Story by Randy S. Peregrino

ITSUBISHI Motors Philippines Inc. (MMPI), along with dealer partner Peak Motors Philippines Incorporated (PMPI), recently turned over 128 units of L300 utility vans to Orix Rental Corp. (ORC).

These utility vans will serve the dealership’s client Japan Tobacco Incorporated (JTI), on its logistic operations. In a ceremony held at Peak Motors, Manila Bay, the event was attended by officials of MMPI, PMPI, ORC, and JTI. Orix Rental Corp. is a company that services multinational companies by providing vehicles for rent that caters to various transportation needs. On the other hand, Japan Tobacco Incorporated is one of the leading tobacco manufacturing companies in the world. “We are very happy that the Mitsubishi L300 is chosen to be the vehicle partner of Orix Rental Corporation for their client JTI. It is an

honor to service a company that is recognized and trusted by multinational brands. We are confident that our Mitsubishi L300 would serve as a very reliable vehicle partner for their daily transportation needs,” said Don Comia, Branch Head of PMPI. The L300 is the most iconic nameplate when it comes to the utility van segment. With over 200,000 units sold, the L300 is known for its longevity, durability, and low ownership cost. Now equipped with an improved 2.2-liter Euro4 diesel engine, it can deliver 40 percent more power and 10 percent better fuel efficiency than its predecessor. Moreover, its adaptable cargo area is capable of accommodating up to a 1,215-kilogram payload.

Mitsubishi Philippines sold 428 units of the Strada pickup last January

To know more about the Mitsubishi L300, visit www.mitsubishi-motors.com.ph or contact any preferred Mitsubishi Motors dealership.

L300 and Strada leads January sales performance

(From left), MMPC AVP for Sales and Marketing Jack Ramirez, PMPI VP-COO John Mabasa, JTI Field Force Development Manager Rocky Alcantara, ORC FVP Marketing and Operations Lito Ondevilla, JTI Sales Operations Manager Albert Dichupa, JTI Budget Manager Mary Grace Villareal, ORC president Constancio Tan, PMPI president Sonny Dee Jr., ORC FVP (Executive Group) Helen Aguilar, ORC AVP Yosuke Anzai, ORC Marketing Head Jodie Dalangin, MMPC FVP Sales and Marketing Cecil Capacete, PMPI Branch Head Don Comia, MMPC Field Sales Manager Kristin Mancilla, and PMPI Sales Manager Safety Lucion

Meanwhile, 2021 is foreseen to be the rebound year by most industries due to the economy’s significant continuous progress. The improvements shown have uplifted the spirits of many industries, especially in the automotive sector. MMPC benefited from the economic boost as the brand ’s tough and durable, uti litar ian vehicles, namely the Mitsubishi L300 and Strada, generated a sig-

nificant increase in retail sales. The L300 and Strada started the year strong with 59 percent and 30 percent respective sales g row t h. T he proud ly Fi l ipi no made and number one selling utility van in the country capped the month of January with 764 units sold—286 units more than the previous month. The solid numbers can be attributed to the special Retro promo that brought the price point of the L300 down to P698,000 (cab and chassis only). The aggressive Retro offer is extended until the end of February for customers to avail themselves and enjoy. The powerful pick-up truck Mitsubishi Strada, on the other hand, achieved 428 total unit sales—101 units more versus December of last year. The Strada has been securing steady output month on month, showing good promise for the Mitsubishi nameplate. “Every month displays a new challenge for us but we are grateful to consistently receive an overwhelming support from the market and admirable passion from our dealer partners. We will continue to strive to give the market enticing promos to assist them in owning their desired Mitsubishi vehicle”.—said Mutsuhiro Oshikiri, MMPC president and CEO.