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PHL BOP POSTS $752-M www.businessmirror.com.ph

Friday, February 26, 2021 Vol. 16 No. 138

P25.00 nationwide | 2 sections 18 pages | 7 DAYS A WEEK

DEFICIT IN JANUARY

Govt yielding ₧14-B revenue from vaccine tax exemption By Bernadette D. Nicolas

See “BSP,” A2

SIGN OF THE TIMES? In a reflection of how free speech is exercised in a pandemic, social-distancing signs are seen alongside Philippine flags placed by members of the Tindig Pilipinas coalition to mark the 35th anniversary of the Edsa People Power Revolution, at the Liwasang Diokno Freedom Park at the Commission on Human Rights central office in Quezon City. The park was named after human-rights champion and late senator Jose W. Diokno. NONOY LACZA

By Bianca Cuaresma

HE country’s transactions with the rest of the world yielded a dollar deficit in January as the national government withdrew foreign currency from the Bangko Sentral ng Pilipinas’s (BSP) reserves to pay for its international debt obligations and as trade also recorded a deficit at the start of the year.

CORRUPTION DEEPENED POVERTY IN PANDEMIC–U.N. By Cai U. Ordinario

LLICIT financial flows and tax avoidance during the pandemic caused millions to become poor, according to a new United Nations (UN) report. In a report titled “Financial Integrity for Sustainable Development,” the Financial Accountability, Transparency and Integrity for Achieving the 2030 Agenda (Facti Panel) said 2.7 percent of the global GDP is

laundered annually. The panel added that while corporations were looking for tax-free jurisdictions, this has led governments to lose around $600 billion a year. “A corrupt and failing financial system robs the poor and deprives the whole world of the resources needed to eradicate poverty, recover from Covid and tackle the climate crisis,” Dalia Grybauskaitė, Facti See “Corruption,” A2

GRYBAUSKAITĖ: “A corrupt and failing financial system robs the poor and deprives the whole world of the resources needed to eradicate poverty, recover from Covid and tackle the climate crisis.”

Mabuhay Lane

Continued on A2

Financial execs call for speedy passage of GUIDE By Tyrone Jasper C. Piad

HE Financial Executives Institute of the Philippines (Finex) is calling for the immediate passage of a bill that seeks to strengthen the lending capacity of government financial institutions for distressed enterprises. In a statement on Thursday,

the business group said that more government measures must be implemented to jumpstart the economy anew, including the Government Financial Institutions Unified Initiatives to Distressed Enterprises for Economic Recovery (GUIDE) bill. “We see the need for other measures that will further help

PESO EXCHANGE RATES n US 48.7010

HE government expects at least a total of P14 billion in forgone revenues from giving value-added tax (VAT) exemption to importations of Covid-19 vaccines. Finance Assistant Secretary Maria Teresa S. Habitan said this was based on the estimate conducted by the Department of Finance (DOF) should the government be able to purchase 75 million doses of Covid-19 vaccines this year. “Around P14 billion in revenues forgone from VAT [valueadded tax], assuming 75 million doses of vaccines priced @1,545/ dose,” Habitan said in a message to the BusinessMirror on Thursday. Habitan said the computation was based on the VAT exemption provided for Covid-19 vaccines under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, which is already awaiting President Duterte’s signature. Finance Secretary Carlos G. Dominguez III said earlier this month that the Philippines, together with the help of the private sector, expects to get a total of about 178 million Covid-19 vaccine doses, good for 92 million individuals, to ensure that 100 percent of the country’s adult population gets inoculated. Of the 178 million doses, Dominguez said around 106 million doses will be covered by the loans negotiated by the government with the Asian Development Bank, World Bank (WB) and the Asian Infrastructure Investment Bank (AIIB), while the Covax Facility will deliver another 40 million doses of the vaccine. Meanwhile, the DOF also announced on Thursday that Dominguez also approved the inclusion of all Covid-19 vaccine importations in the “Mabuhay” or express lane of the DOF, paving the way for expedited processing of tax and duty exemptions of these shipments.

businesses to recover from the pandemic and navigate through challenges that lie ahead,” Finex President Francisco Ed. Lim said. Finex explained that the bill will extend financial assistance to potentially cash-strapped and debt-laden enterprises to inject liquidity and fuel recovery. The lending facilities will be

focused on medium, small and micro enterprises (MSMEs) and strategically important industries, including the agriculture supply chain, food industry, manufacturing, low-cost and socialized housing, hospitality and education. To achieve this, the proposed law seeks to strengthen the lending capacity of Philippine Guar-

antee Corp., the Land Bank of the Philippines and the Development Bank of the Philippines. The bill, in addition, proposes incentive grants and exemption privileges in the lending and investing activities of the state-run financial institutions. “Its [GUIDE bill] immediate See “GUIDE,” A2

WITH this, Covid-19 vaccine tax exemption applications in the Mabuhay Lane, which is under the DOF’s Revenue Office, will be processed within 24 working hours. On top of this, Dominguez also approved the waiving of filing fees for Covid-19 vaccine applications under the Mabuhay Lane, as well as the use of the Tax Exemption System (TES) Online Filing Module in processing the vaccine imports “to further support the government’s rollout of the Covid-19 vaccination program.” Continued on A2

n JAPAN 0.4628 n UK 68.7366 n HK 6.2810 n CHINA 7.5342 n SINGAPORE 36.8947 n AUSTRALIA 38.5225 n EU 59.1717 n SAUDI ARABIA 12.9869

Source: BSP (February 24, 2021)

News BusinessMirror

A2 Friday, February 26, 2021

Govt yielding ₧14-B revenue from vaccine tax exemption Continued from A1

Filing fees are based on the value of the importation and these must be paid upon submission of request or application under the Mabuhay Lane. The filing fee could go as low as P200 for importations with value of P100,000 and below. For importations with value of over P1 million, a P1,000 filing fee must be paid, according to DOF’s Revenue Office Tax Exemption Manual. These tax exemption policies will be incorporated in the interagency guidelines on the implementation of a One-Stop Shop for International Donations and Government-Procured Covid-19 Vaccines that is being prepared by the DOF, the Department of Health, the Department of Foreign Affairs, the Bureau of Customs, and the Food and Drug Administration. Dominguez made these decisions following the recommendations of Finance Undersecretary Antonette Tionko, who heads the DOF’s Revenue Operations Group (ROG). Tionko pushed for the inclusion of Covid-19 vaccine imports in the Mabuhay Lane, “regardless of the applicable legal basis,” to “allow for the expedited processing of the tax and exemption of such applications.” Under DOF Department Order 542000, the Secretary of Finance is authorized to include additional sectors that may avail themselves of the express service under the Mabuhay Lane. “We add that the Mabuhay Lane currently processes all Relief Consignment under Section 120 in relation to Section 121 of the Customs Modernization and Tariff Act (CMTA). The Lane is expected to process all Covid-19 vaccines which may qualify as relief consignment,” Tionko said. Relief consignment refers to goods donated to national government agencies and accredited private entities for free distribution to, or for the use of, victims of calamities. Under Section 121 of the CMTA, relief consignment imported during a state of calamity and intended for the use of calamity victims shall be exempted from the payment of duties and taxes. The Mabuhay Lane, which was created on May 13, 1994, through DOF Department Order 29-94, is tasked to expeditiously process applications for the tax and duty exemption of certain groups of importers, which include export-oriented firms, returning residents (balikbayan) and nonprofit, nonstock educational institutions.

PCIC okays DA bid to hike indemnity for insured hogs Continued from A10 Meanwhile, backyard hog raisers, who currently receive free insurance if they are listed in the Registry System for Basic Sectors in Agriculture (RSBSA), would still benefit from the relaxed provisions on indemnity payment, according to the DA. The PCIC Board has directed the state-run agricultural insurance firm to “increase the number of backyard hog raisers to be provided insurance coverage,” the DA also said. The “enhanced insurance policy features for hogs will remain in place until such time that the industry shall have stabilized or a vaccine or other veterinary solutions will have been developed for ASF,” according to agriculture officials. Dar earlier revealed that the DA is seeking the Cabinet’s approval for its P740million proposal to subsidize half of the insurance premium of commercial hog raisers to encourage them to partake in the government’s pig repopulation tack. “This will now be the indemnification for the backyard and commercial raisers. We will only subsidize the commercial raisers, while backyard raisers do not have to pay a premium as long as they are registered in the RSBSA [Registry System for Basic Sectors in Agriculture]. This will encourage commercial hog raisers to repopulate,” Dar had explained last Monday. Based on Dar’s presentation, it would cost a total of P1.48 billion to insure 5 million pigs, comprising 1 million breeders and 4 million pigs. Dar said the government will shoulder half of the total cost; the rest would be paid by the commercial raiser. Insurance coverage for a fattener is up to P10,000 with a 2.25-percent premium payment, while breeders are insured for P14,500 at a 4-percent premium payment, according to Dar’s presentation.

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ADB raises $2B in US bond market for Covid assistance

By Cai U. Ordinario

HE Asian Development Bank (ADB) returned to the US bond market for the second time this year to help boost its resources to address the region’s pandemic-related needs. In a statement, the Manilabased multilateral development bank said it raised $2 billion from the issuances of 10-year global bonds. This will help support the ADB’s plans to raise around $30 billion to $35 billion from the capital markets in 2021. The proceeds will boost the bank’s ordinary capital resources (OCR). “We appreciate the strong support of our investors for this new 10-year global bond issue,” said ADB Treasurer Pierre Van Peteghem. “This is our second successful outing in the US dollar market this year. The constructive result provides us with more resources to support our developing members in Asia and the Pacific, especially those most affected by the pandemic.” The 10-year bond has a coupon

ADB headquarters in Mandaluyong City JIMKAYALAR | DREAMSTIME.COM

VAN PETEGHEM: “This is our second successful outing in the US dollar market this year. The constructive result provides us with more resources to support our developing members in Asia and the Pacific, especially those most affected by the pandemic.”

rate of 1.5 percent per annum payable semi-annually and a maturity date of 4 March 2031. It was priced at 99.088 percent to yield 18.35 basis points

over the 1.125-percent US Treasury notes due February 2031. The transaction was leadmanaged by JPMorgan, Nomura, RBC and TD Securities. A syndicate group was also formed consisting of ANZ, Credit Agricole CIB, ING, Natixis and Scotiabank. The issue achieved wide primary market distribution with 27 percent of the bonds placed in Asia; 48 percent in Europe, the Middle East and Africa; and 25 percent in the Americas. By investor type, 56 percent of the bonds went to central banks and official institutions, 30 percent to banks, and 14 percent to fund managers and other types of investors. In 2015, the ADB announced it was significantly scaling up its capacity to provide more financ-

ing through a merger of its concessional Asian Development Fund (ADF) loan portfolio with its OCR balance sheet. The merger will boost the ADB’s total annual lending and grant approvals to as high as $20 billion—50 percent more than the current level. ADB assistance to poor countries will rise by up to 70 percent. The Manila-based multilateral development bank (MDB) extends two kinds of lending, the OCR for middle-income countries at market rates and the ADF for poor countries at concessional rates. The Philippines’s ADB loans are obtained from OCR. The ADF, which was established in 1973, is extended to poorer countries at lower interest rates and longer maturities.

TOURISM FIRMS FRET OVER SURVIVAL; SEEK VACCINES By Ma. Stella F. Arnaldo Special to the BusinessMirror

HE country’s tourism enterprises live in a constant state of worry during this pandemic, and believe that the stability of public health will be the minimum requirement to fasttrack the recovery of their sector. In “The Philippine Travel Survey Report: The Evolving Landscape of Domestic Travel in the Philippines” by the Department of Tourism (DOT), Asian Institute of Management, and Guide to the Philippines, among the 108 respondents’ pressing concerns are insufficient funds (86 percent of respondents) and inadequate cash flow (84 percent). Also, they are anxious about the loss of key employees (49 percent), permanent business closure (47 percent), and “damage to the brand” (37 percent). Of the total respondents, 44 percent were tour operators, 35 percent were in the accommodation business, while 21 percent were in retail, food and beverage, etc. Sixty-two percent are family-owned enterprises, while the rest are not. At least 31 percent of these tourism enterprises believe that a proven vaccine is a “requirement for a fast tourism recov-

ery,” and 24 percent added, faster and cheaper testing is key. About 20 percent said a commercially viable vaccine will definitely help fast-track the recovery, while the rest said it would be declining new cases (10 percent), rising recovery (8 percent), and an effective and cheaper Covid cure (6 percent).

Deterrence to travel

AT present, they think the testing and quarantine requirements, along with the various permits demanded by local government units, discourage people from traveling (42 percent of respondents). This supports the DOT’s view for the need of standardized health and safety protocols among destinations now open for inbound travel. Most respondents are smallto medium-scale enterprises (SMEs), with 70 percent of tour operators indicating they were capitalized up to P3 million, while 39 percent of the accommodation establishments were capitalized between P15 million and P100 million, and 37 percent of the latter up to P3 million. Bulk of “Others” (retail, F&B, etc.) were capitalized up to P3 million (48 percent), and P3 million-P15 million (26 percent). Of those surveyed, 21.2 per-

cent were located in the National Capital Region (NCR), 15.2 percent were from Bulacan, 11.1 percent Pampanga, 6.1 percent Bataan, and 46.5 percent were from several other locations. Of the 67 family enterprises, 97 percent said they had to adjust their family lifestyle to cope with the pandemic and 93 percent provided financial assistance to their employees. Seventy-six percent also infused personal funds into their business, 72 percent received pay cuts, 69 percent provided financial assistance to their family/relatives, and 67 percent provided financial assistance to the community.

Marketing, cash aid needed from DOT

DESPITE the financial assistance programs made available to the tourism sector via the DOT and the Department of Labor and Employment (Cash-for-Work), and the DOT-Department of Trade and Industry (CARES for Travel under the Small Business Corp.), most respondents are still urgently asking for financial aid. A huge 82 percent require marketing and promotions for the new normal environment of the industry from the DOT; financial support to sustain tour-

ism businesses and employment (79 percent), market and product development (71 percent), protection of tourism workers (71 percent), appropriate communication and dissemination of accurate information during pandemic (69 percent), policy support to help financial and business solvency (66 percent), assistance to tourists/travelers affected by the pandemic (66 percent), development of travel bubbles and green corridors to restart tourism activities (64 percent), development and enforcement of new normal standards (63 percent), Philippine tourism investment promotion (53 percent), among others. Yet the DOT-DOLE reported that only 158,166 workers received P790.83 million in cash aid of P5,000 each as of February 2. Under the Bayanihan 2 Law, some P3 billion in funds was made available for the tourism sector.

(See, “Habal-habal drivers covered by DOT-DOLE aid,” in the BusinessMirror, February 5, 2021.)

Under the SB Corp’s facility, only 415 loan applications amounting to some P247.52 million had been processed as of December 29, 2020. Bayanihan 2 provided P6 billion in funds for direct loans to tourism enterprises.

PHL BOP posts $752-M deficit in January Continued from A1

The BSP reported on Thursday that the country’s balance of payments (BOP)—or the summary of its transactions with the rest of the world—hit a deficit of $752 million in January. This is the first BOP deficit of the country since March 2020 and the largest deficit since January last year. Despite the global economic turmoil brought about by the restrictions needed to curb the pandemic, the Philippines’s BOP managed to stay in surplus territory

in 2020, ending the year with a $16-billion surplus. The deficit in January 2021, however, was smaller compared to the $1.36-billion deficit seen in the same month in 2020. The Central Bank attributed this to the outflows mainly from the foreign currency withdrawals of the national government from its deposits in the BSP to pay its foreign currency debt obligations. The BSP said the outflows could have had a larger effect on the BOP, if not for the BSP’s income from its foreign exchange operations and investments abroad.

Rizal Commercial Banking Corporation (RCBC) economist Michael Ricafort, in his analysis, said the BOP deficit could also be a result of the wider trade deficit in recent months amid some pick-up in imports. Ricafort thinks the coming months could see the Philippines’s BOP reverting to surpluses if the country records a narrower trade deficit in the coming months—if foreign investments rise and if dollar inflows from remittances and business-process outsourcing receipts continue to be stable over 2021. Additional foreign borrowings

by the national government, potential foreign fund-raising activities by the biggest local companies and conglomerates or an increase of foreign direct investments to the country after the CREATE Bill is signed into law will also push the country’s BOP back to surplus territory. The BOP is usually considered as an important economic indicator in an economy as it shows the level of earnings or expenses of the Philippines with its transactions with the world. A deficit means that the country made more dollar expenses than its earnings during the period.

Corruption… Continued from A1

cochairman and former president of Lithuania, said. The report said that six months into the pandemic, Transparency International found documented cases of corruption and malfeasance across 17 countries, involving public funds amounting to $1.1 billion—a sum that could purchase 50,000 ventilators. The Facti Panel said inequality across the globe has risen sharply because of the pandemic. While there was an estimated 7-percent increase in extreme poverty, billionaires’ wealth surged 27.5 percent at the peak of the crisis or between April and July 2020. “Even if this result cannot be traced solely to illegal corruption and fraud, it is an alarming testament to the way the international financial system is presently skewed in favor of the wealthy, even during a pandemic,” the report stated. In a statement, the panel said recovering the annual loss to tax avoidance and evasion would be beneficial, especially in efforts to achieve the Sustainable Development Goals (SDGs). In the case of Bangladesh, recovering its losses could expand its social safety net to 9 million more elderly. In Chad, the panel said, the losses could pay for 38,000 classrooms, while in Germany, it could build 8,000 wind turbines. “Closing loopholes that allow money laundering, corruption and tax abuse and stopping wrongdoing by bankers, accountants and lawyers are steps in transforming the global economy for the universal good,” Ibrahim Mayaki, Facti cochairman and former prime minister of Niger, said. The report called for greater transparency around company ownership and public spending as well as on international cooperation to prosecute bribery, international efforts to create a minimum corporate tax and the taxing of digital giants, and global governance of tax abuse and money-laundering. The panel was convened by the 74th President of the United Nations General Assembly and the 75th President of the Economic and Social Council on March 2, 2020. The panel reviews financial accountability, transparency and integrity, and makes evidence-based recommendations to close remaining gaps in the international system as a means to achieve the 2030 Agenda and the SDGs.

GUIDE… Continued from A1

passage will also optimize the benefits of the CREATE and FIST Acts and will also help balance the risks to inflation as the government pushes its efforts to pump prime the economy, restore normalcy in the country’s business sector, reduce unemployment and provide renewed impetus towards robust economic growth,” Lim added. CREATE means Corporate Recovery and Tax Incentives for Enterprises, while FIST stands for Financial Institutions Strategic Transfer. “These two legislative measures are important components of the economic relief plan of the government to address the devastating effects of the Covid-19 pandemic and to make the Philippines an attractive investment destination for the longer term,” Lim explained. CREATE eyes to cut the corporate income tax (CIT) immediately to 25 percent from 30 percent upon effectivity. The CIT will then be reduced further by 1 percentage point every year from 2023 to 2027 until it reaches 20 percent. FIST, meanwhile, allows financial institutions to unload their nonperforming assets (NPAs) by selling them to asset management firms to better handle their debt portfolio. NPAs refer to nonperforming loans (NPL) and real and other properties acquired in settlement of loans.

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Editor: Vittorio V. Vitug • Friday, February 26, 2021 A3

DOJ chief: PNP may have failed to follow protocols in war vs drugs By Joel R. San Juan

@jrsanjuan1573

USTICE Secretary Menardo Guevarra has confirmed before the United Nation Human Rights Council (UNHRC) that the interagency review panel on anti-illegal drugs operations has documented certain violations by some police operatives of standard protocols on coordination and processing of crime scenes. In the Philippine statement at the high-level segment of the 46th Human Rights Council Session, Guevarra told participants that the initial findings was the result of the reexamination of cases conducted by the Inter-Agency Review Panel involving anti-illegal drug operations where deaths occurred. Despite the admission, however, Guevarra reiterated the government’s rejection for international groups to assume jurisdiction over the investigation of the anti-illegal drugs campaign being waged by the Duterte administration. He said the issues surrounding the all-out war against drugs campaign are considered internal matters, “which are being addressed more than adequately by our national institutions and authorities.” “In closing, the Philippines strongly emphasizes that its legal and judicial system and domestic accountability mechanisms are functioning as they should,” Guevarra stressed. The justice chief announced in June last year the creation of the panel following reports of human-rights abuses and extrajudicial killings in the police’s all-out war against illegal drugs campaign under the Duterte administration. Despite the challenges due to restrictions brought about by the Covid-19 pandemic, Guevarra said, the DOJ contingent was able to gather available records on certain key areas and cities where most deaths related to anti-drug operations may have occurred. “Our initial and preliminary findings confirm that in many of these cases, law enforcement agents asserted that the subject of the antidrug operations resisted arrest or attempted to draw a weapon and fight back,” Guevarra noted. “Yet no full examination of the weapon recovered was conducted, no verification of its ownership undertaken, and no request for ballistic examination or paraffin test was pursued until its completion,” he added. Guevarra said that it was also noted during the examination of records “in more than half of the records reviewed, the law enforcement agents involved failed to follow standard protocols pertaining to coordination with other agencies and processing of the crime scene.” Guevarra also said the panel’s findings have been referred to the Philippine National Police. In turn, the DOJ chief said, the PNP informed the panel that it had conducted an internal probe of thousands of these incidents and had recommended administrative and criminal action against “scores of police officers.” Guevarra said it is within the panel’s task to ensure that proper disciplinary authorities would carry out these sanctions and cases against erring police officers. “We are expecting the PNP to submit to us the recommendation of their Internal Affairs Service [IAS] for administrative and criminal action against those PNP personnel found liable, so that we can verify if their recommendations have actually been carried out,” the DOJ chief pointed out. In an interview with reporters, Guevarra said any member of the panel may file an appropriate complaint before the DOJ against

Task force vows to renew crackdown against Candaba Swamp bird hunters By Jonathan L. Mayuga

@jonlmayuga

IRD hunters targeting migratory birds in one of the country’s largest wetlands in the Province of Pampanga are now the objects of a manhunt by wildlife law enforcers for blatantly defying the law against hunting wild animals. The Provincial Environment and Natural Resources Office (Penro) of Pampanga has launched surveillance operations against a group of bird hunters who were recently spotted while conducting bird-hunting activities along the North Luzon Expressway in Apalit, Pampanga. The latest report of bird-hunting activities came just weeks after the Department of Environment and Natural Resources (DENR) and the Ramsar Convention declared on February 2, 2021,World Wetlands Day, the Sasmuan Pampanga Coastal Wetlands as a wetland of international importance. The first in Pampanga and the entire Central Luzon Region, the Sasmuan Pampanga Coastal Wetland became the 8th Ramsar Site in the Philippines. Its designation as a wetland of international importance highlights the province’s commitment to protect and conserve its coastal and inland wetlands as a staging ground of endangered migratory birds and habitat to native bird species that thrive in the area. “Pampanga Penro [Provincial Environment and Natural Resources Officer] Laudimir Salac has already sent a team to the area to conduct surveillance operation,” Don Guevarra, Regional Public Affairs Office chief of DENR Central Luzon told the BusinessMirror in a telephone interview. “It just happened that because of Covid-19, our team’s movement is limited,” he said. The “hunt” for Pampanga’s bird hunters came in response to reports of illegal activities documented and posted on social media by bird enthusiasts recently. Sought for reaction, Rogelio Demelletes Jr. of the DENR’s Philippine Operations Group on Ivory and Illegal Wildlife Trade, or Task Force POGI, said it is unfortunate that bird-hunting activities have again resumed in the area. Apparently, he said, the bird hunters are taking advantage of the restricted movement of wildlife law enforcers because of the pandemic. “We know who they are. We can track them down. These hunters are not from Pampanga. Some of them are from nearby provinces congregating in the Candaba Swamp to show off their weapons and try it on these poor birds,” said Demelletes. “Some of them need to show off to demonstrate the firepower of their upgraded rifles. The only way they can do it there is to hunt birds,” lamented Demelletes.

policemen involved if the PNP would not act on the recommendation of its IAS. The panel is also eyeing to reach out to the families of the victims of these anti-illegal drug operations so that they could act as complainants. The initial findings of the panel covered review

of anti-illegal drug operations in Bulacan, Pampanga, Cavite and parts of the National Capital Region where numerous deaths were recorded. DOJ Undersecretary Adrian Sugay, for his part, said that the panel was able to review the cases that were filed at the National Prosecution Service (NPS).

As of December 11 last year, a total of 916 cases were filed but only 328 cases were made available for review. The panel intends to review a total of 5,655 antiillegal drugs operations where deaths occurred, Guevarra said, in his report last June during the 44th UNHRC Human Rights Council Session.

A4 Friday, February 26, 2021 • Editor: Vittorio V. Vitug

Economy BusinessMirror

PIDS: Tax gaps in PHL digital economy may require infra expansion to resolve

By Cai U. Ordinario

@caiordinario

DDRESSING taxation gaps in the digital economy may require the government to boost its digital infrastructure expansion nationwide, according to the Philippine Institute for Development Studies (PIDS).

In a discussion paper, PIDS Research Fellow Janet S. Cuenca said gaps remain in taxing firms operating in digital platforms in part because of the lack or absence of official industry data. This is partly the reason for the absence of a satellite account dedicated to measuring the contribution of digital trade to economic growth. “The satellite accounts are not yet formulated and still, there is a lack of statistics that explicitly measure the digital economy,” Cuenca said. “[There is also a] lack of international definition and statistical framework as well as international guidelines with regard to measurement of the digital economy.”

Further, Cuenca said, regulatory barriers continue to inhibit businesses from exploring and investing in digital technology solutions. She said the country’s digital infrastructure gap remains one of the clearest bottlenecks that hinder the growth of digital economy in the Philippines. Cuenca added that there is even a lack of standard permit issued across local governments, hindering the greater deployment of the needed infrastructure. “[There are] problems concerning Internet availability [i.e., 74 percent of secondary schools lack Internet access], affordability [e.g., prices of ICT services are among the highest in Asean] and reliabil-

ity/quality of digital infrastructure,” Cuenca said. Apart from this, the Philippines said in an Asia-Pacific Economic Cooperation (Apec) report that other policy gaps in the digital economy include competition policy, Internet infrastructure improvements and consumer education. In the same report, Cuenca said, the Philippine government said the “entry of new players in the ICT sector is hindered by limitation in ownership.” Only when these restrictions are eliminated will there be greater competition and innovation in the digital economy. “The issues and challenges in taxation in the digital economy stem from the complex and multifaceted nature of digital economy. Reaching a common understanding and measurement of the size and impact of the digital economy is critical in devising a tax regime for the digital economy,” Cuenca said. In a report, titled “A Better Normal Under Covid-19: Digitalizing the Philippine Economy Now,” around 60 percent of Filipino households do not have access to the Internet. This despite findings by We Are Social, which stated that Filipinos spend 10 hours online daily.

World Bank Economist Kevin Chua, lead author of the report, said in a briefing on Monday that most Filipinos rely on mobile data to connect to the worldwide web. Part of the reason is that digital connection in the Philippines is expensive, slow, and has a low broadband penetration rate. Where Internet services are available, Filipino consumers experience slow download speeds. At 16.76 megabytes per second (Mbps), the Philippines’s mobile broadband speed is much lower than the global average of 32.01 Mbps. In the region, the report said 3G/4G mobile average download speed stands at 13.26 Mbps compared to only seven Mbps in the Philippines. Chua said the most commonly used in the country is 3G which is the lower version of Internet connection. Further, the World Bank noted that efforts to enhance digital infrastructure in the Philippines are hindered by the lack of competition, as well as restrictions on investment in the telecommunications markets. These restrictions include the public utility designation of telecommunications, which limits foreign ownership and places a cap on the rate of return.

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DA harnesses innovative tech to boost ‘dalag,’ ‘hito’ production By Jasper Emmanuel Y. Arcalas @jearcalas

HE Department of Agriculture (DA) has bared the implementation of “innovative technologies” to boost the domestic production of mudfish (dalag) and catfish (hito), through the use of induced spawning techniques and nursery rearing protocols to expand the country’s fish supply. In a recent news statement, the DA said its National Fisheries Research and Development Institute (NFRDI) together with the Bureau of Fisheries and Aquatic Resources (BFAR) are developing induced spawning techniques and nursery rearing protocols for the two freshwater fish species. The DA’s Biotechnology Program supports the development. The DA explained that the development and implementation of these technologies would “increase the production of dalag and hito fingerlings that will be distributed to interested aquaculturists and fishpond operators.” “The technologies will also help solve the perennial challenges facing the fishery industry, namely: high fishing pressure in the wild; human-induced harmful and illegal fishing activities; and ineffective cultural and management practices. These have invariably

caused a decline in total fish catch from both aquaculture and marine waters,” it added. The DA said the declining catch of fingerlings from the wild and lack of better technologies in the propagation of fish are considered “bottlenecks” in ensuring “sustainable” production of freshwater species like mudfish and catfish. “Specifically, the NFRDI-BFAR biotechnology project on mudfish production aims to optimize the induced spawning techniques and nursery rearing protocols, whose outcome is a sustainable, cheaper and efficient way to produce dalag,” it added. The DA said the two-year project, which started in October 2020, would produce a total of 300,000 mudfish fingerlings that will be distributed to fish farmers in Central Luzon and in Tanay, Rizal. “On the other hand, the oneyear project on catfish, initiated in January 2021, targets a continuous supply of quality fingerlings by improving induced spawning techniques and rearing protocols by engaging six village-level hatcheries and nurseries in La Union and Pangasinan,” the DA said. “The project aims to produce 1.2 million hito fingerlings and attain a 10-percent growth in production and more importantly achieve a three-fold increase in profit,” the DA added.

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The World BusinessMirror

Facebook bans all Myanmar military-linked accounts, ads

ANGON, Myanmar—Social-media giant Facebook announced on Thursday it was banning all accounts linked to Myanmar’s military as well as ads from military-controlled companies in the wake of the army’s seizure of power on February 1. It said in a statement that it was treating the post-coup situation in Myanmar as an “emergency,” explaining that the ban was precipitated by events since the coup, including “deadly violence.” Facebook’s ac tion comes as diplomatic efforts to resolve Myanmar’s political crisis have intensified and protests continued in Yangon and other cities calling for the country’s coup makers to step down and return Aung San Suu Kyi’s elected government to power. Facebook already has banned several militarylinked accounts since the coup, including armycontrolled Myawaddy TV and state television broadcaster MRTV. The bans are also being applied on Instagram, which is owned by Facebook. Facebook and other social-media platforms came under enormous criticism in 2017 when right groups said they failed to act enough to stop hate speech against Myanmar’s Muslim Rohingya minority. The army launched a brutal counterinsurgency operation that year that drove more than 700,000 Rohingya to seek safety in neighboring Bangladesh, where they remain in refugee camps. Myanmar security forces burned down villages, killed civilians and engaged in mass rape in their campaign, which the World Court is investigating as a crime of genocide. Facebook in 2018 banned the accounts of several top Myanmar military leaders, including Senior Gen. Min Aung Hlaing, who led this month’s coup that ousted the elected government of Aung San Suu Kyi and her National League for Democracy party. The general heads the junta that now acts as the government. The junta has tried to block Facebook and other social-media platforms, but its efforts have proven ineffective. For more than a week it has also turned off access to the Internet nightly from 1 a.m. Indonesian Foreign Minister Retno Marsudi on Wednesday visited the Thai capital, Bangkok, and held three-way talks with her Thai counterpart Don Pramudwinai and Myanmar’s new foreign minister, retired army colonel Wunna Maung Lwin, who also traveled to Thailand. The meeting was part of Marsudi’s efforts to coordinate a regional response to the crisis triggered by the military takeover in Myanmar. Indonesia and fellow members of the Association of Southeast Asian Nations are seeking to promote some concessions by Myanmar’s military that could ease tensions to prevent more violence. The regional grouping, to which Thailand and Myanmar also belong, believes dialogue with the generals is a more effective method of achieving concessions than more confrontational methods, such as the sanctions often advocated by Western nations. In a virtual news conference after her return to Indonesia, Marsudi said she expressed her country’s

concern about the situation in Myanmar. “We asked all parties to exercise restraint and not use violence...to avoid casualties and bloodshed,” she said, emphasizing the need for dialogue, reconciliation and trust-building. Marsudi said she had conveyed the same message to a group of elected members of Myanmar’s Parliament who were barred by the military coup from taking their seats. The lawmakers are from Suu Kyi’s National League for Democracy party, which won a landslide victory in elections last November that would have given it a second five-year term in office. After the coup, the group, called the Committee Representing Pyidaungsu Hluttaw, the name of the combined houses of Parliament, announced it was convening the body in an online session and appealed to the UN and foreign countries to treat it as Myanmar’s legitimate government. It has received mounting suppor t from Myanmar’s protest movement, but little if any foreign endorsements. Indonesia’s acknowledgement that the group has a role to play could open an avenue for negotiations between Myanmar’s ruling junta and its opponents. Opposition to the coup continues inside Myanmar, with large demonstrations in many cities and towns. Th e re w a s a n e w l o o k to a nt i - co u p demonstrations Thursday, with protesters smearing a traditional yellow paste on their faces, as a proclamation of their national identity. Outside the Hledan Centre in Yangon, where around 1,000 people gathered to keep up pressure on the new military regime, protestors wore the mixture, called thanaka, in broad swathes on their foreheads, cheeks and down their noses. Some had slogans written into the designs. Thanaka is made from pulverized tree bark. It is said to be good for the skin and to protect it from sunburn. It is ubiquitous in Myanmar and is as much a symbol of its culture as the sarong-like longyi skirt or the Shwedagon temple in Yangon. There was a tense standoff on Wednesday in the country’s second-biggest city, Mandalay, where police holding riot shields and cradling rifles blocked the path of about 3,000 teachers and students. Af ter abou t t wo hours, during which demonstrators played protest songs and listened to speeches condemning the coup, the crowd moved away. On Saturday, police and soldiers fatally shot two people in Mandalay while breaking up a strike by dock workers. The military says it took power because last November’s election was marked by widespread voting irregularities, an assertion that was refuted by the state election commission, whose members have since been replaced by the ruling junta. Despite the landslide victory by Suu Kyi’s party at the polls, the army blocked Parliament from convening and detained her and President Win Myint and other top members of her government. The junta has said it will rule for a year under a state of emergency and then hold fresh elections. AP

But Country Press Australia, which represents 161 regional newspapers across the country, has raised concerns that tiny publications outside large cities might miss out. Sims said he was not surprised that the platforms would strike deals with the large city businesses first. “I don’t see any reason why anybody should doubt that all journalism will benefit,” Sims said. “These things take time. Google and Facebook don’t have unlimited resources to go around talking to everybody. I think this has got a long way to play out,” he added. Chris Moos, a lecturer at Oxford University’s Business School, said the latest amendments amounted to a “small victory” for Zuckerberg. Moos said the legislation would likely result in small payouts for most Australian news publishers. But Facebook could again block Australian news if negotiations broke down. The legislation was designed to curb the outsized bargaining power of Facebook and Google in their negotiations with Australian news providers. The digital giants would not be able to abuse their positions by making take-it-or-leaveit payment offers to news businesses for their journalism. Instead, in the case of a standoff, an arbitration panel would make a binding decision on a winning offer. Frydenberg and Facebook confirmed that the two sides agreed to amendments to the proposed legislation. The changes would give digital platforms one month’s notice before they are formally designated under the code. That would

Ghana 1st nation to receive Covid vaccines from COVAX A

CCR A , Gh a na— Gh a na received the world’s first delivery of coronavirus vaccines from the United Nations-backed COVA X initiative on Wednesday—the long-awaited start for a program that has thus far fallen short of hopes that it would ensure shots were given quickly to the world’s most vulnerable people. The arrival of 600,000 doses of the AstraZeneca vaccine in the West African country marks the beginning of the largest vaccine procurement and supply operation in history, according to the World Health Organization and UNICEF. It is a linchpin of efforts to bring the pandemic to an end and has been hailed as the first time the world has delivered a highly sought-after vaccine to poor countries during an ongoing outbreak. “Today marks the historic moment for which we have been planning and working so hard. With the first shipment of doses, we can make good on the promise of the COVAX facility to ensure people from less wealthy countries are not left behind in the race for lifesaving vaccines,” said Henrietta Fore, executive director of UNICEF, which delivered the vaccines. But the initiative, formed to ensure fair access to vaccines by low- and middle-income countries, has been hampered by the severely limited global supply of doses and logistical problems. Although it aims to deliver 2 billion shots this year, it currently has legally binding agreements only for several hundred million shots. It already missed its own goal of beginning vaccinations in poor countries at the same time immunizations were rolled out in rich ones. The overall campaign thus far has been extremely uneven: 80 percent of the 210 million doses administered worldwide thus far were given in just 10 countries, WHO Director-General Tedros Adhanom Ghebreyesus said this week.

Australia passes law to make Google, Facebook pay for news C ANBERRA, Australia—Australia’s law forcing Google and Facebook to pay for news is ready to take effect, though the laws’ architect said it will take time for the digital giants to strike media deals. The Parliament on Thursday passed the final amendments to the so-called News Media Bargaining Code agreed between Treasurer Josh Frydenberg and Facebook chief executive Mark Zuckerberg on Tuesday. In return for the changes, Facebook agreed to lift a ban on Australians accessing and sharing news. Rod Sims, the competition regulator who drafted the code, said he was happy that the amended legislation would address the market imbalance between Australian news publishers and the two gateways to the Internet. “All signs are good,” Sims said. “The purpose of the code is to address the market power that clearly Google and Facebook have. Google and Facebook need media, but they don’t need any particular media company, and that meant media companies couldn’t do commercial deals,” the Australian Competition and Consumer Commission chair added. The rest of the law had passed in Parliament earlier, so it can now be implemented. Google has already struck deals with major Australian news businesses in recent weeks including News Corp. and Seven West Media. Frydenberg said he was pleased to see progress by Google and more recently Facebook in reaching commercial deals with Australian news businesses.

Friday, February 26, 2021

give those involved more time to broker agreements before they are forced to enter binding arbitration arrangements. Facebook Vice President of Global Affairs Nick Clegg said on Wednesday that the Australian law, without this week’s amendments, would have enabled media conglomerates to “demand a blank check.” “Thankfully, after further discussion, the Australian government has agreed to changes that mean fair negotiations are encouraged without the looming threat of heavy-handed and unpredictable arbitration,” Clegg, a former British deputy prime minister, wrote in a Facebook post. Facebook last week prevented Australians from sharing news, but also blocked access to pandemic, public health and emergency services. The blockade was a response to the House of Representatives passing the code last week in a form that Facebook considered “unworkable.” Clegg said Facebook had “erred on the side of over-enforcement” and “some content was blocked inadvertently.” B oth Google and Facebook are pursuing Australian media deals under their own licensing models, G oogle News Showcase and Facebook News. But media executives argue such deals would not be possible without the threat of an arbitration panel making final decisions. Frydenberg said his department will review the code within a year to “ensure it is delivering outcomes that are consistent with government’s policy intent.” AP

That delay led numerous poorer countries to rush to sign their own deals, potentially undermining COVA X’s efforts to get shots to the neediest people. And some countries can’t afford to go it alone. Ghana is among 92 countries that will receive vaccines for free through the initiative, which is led by the WHO; Gavi, a vaccine group; and the Coalition for Epidemic Preparedness Innovations. Another 90 countries and eight territories have agreed to pay. Ghana, a nation of 30 million people that has recorded 81,245 cases and 584 deaths since the beginning of the pandemic, plans to begin vaccinations on March 2. Neighboring Ivory Coast will be the next to receive vaccines, and also will roll them out starting next week. Even as it celebrated receiving the first doses, Ghana noted the long road ahead. “ The government of Ghana remains resolute at ensuring the welfare of all Ghanaians and is making frantic efforts to acquire adequate vaccines to cover the entire population through bilateral and multilateral agencies,” Ghana’s acting minister of information, Kojo Oppong Nkrumah, said in a statement. T hat f renet ic ism has been echoed across the continent of 1. 3 bi l l ion people, as del iver ies have fa l len beh ind sc hedu le a nd A f r ica n nat ions have scra mbled to sec u re vacc ines

f rom v a r iou s s ou rc e s . O n l y about seven of 54 have beg u n vacc inat ion ca mpa ig ns. “If you look at which countries have managed to secure vaccines for their citizens, they are all in the developed industrialized world. And we are happy for their citizens. But we also want everyone who needs to be protected against the pandemic to get the vaccine,” UNICEF’s regional director for West and Central Africa, Marie-Pierre Poirier, told The Associated Press, calling the deliveries to Ghana a historic moment. “This is critical to put an end to the pandemic, because until everybody is safe, no one is safe.” The target for 2021 is 1.3 billion doses in the 92 countries, and up to 2 billion taking into consideration the other countries, she said. While 20 percent of the most vulnerable population being vaccinated is the current goal, she said the hope is that this is significantly increased. “I think that more actors, once they feel a little bit reassured about their own population, would for sure come and help so we can catch up,” she said. Some activists have also expressed serious concern about the COVA X initiative’s goal of only giving enough shots to cover about 20 percent to 30 percent of the population in countries that receive donated doses. They have warned that even if the program is successful in distributing those vaccines, those countries

will remain vulnerable to continued coronavirus outbreaks since most experts guess that at least 70 percent of people will need protection from the virus to reach herd immunity. And experts have noted that even if richer countries reach some level of herd immunity, everyone will remain vulnerable as long as there are pockets of Covid-19 anywhere in the world. “We will not end the pandemic anywhere unless we end it everywhere,” said Tedros, the WHO leader. “Today is a major first step towards realizing our shared vision of vaccine equity, but it’s just the beginning. We still have a lot of work to do with governments and manufacturers to ensure that vaccination of health workers and older people is underway in all countries within the first 100 days of this year.” The vaccines delivered Wednesday are the first of some about 7 million doses being produced by the Serum Institute in India for some 20 countries, according to the Africa Centres for Disease Control and Prevention. “Over the coming weeks, COVA X must deliver vaccines to all participating economies to ensure that those most at risk are protected, wherever they live,” said Dr. Seth Berkley, CEO of Gavi. “We need governments and businesses now to recommit their support for COVA X and help us defeat this virus as quickly as possible.” AP

Friday, February 26, 2021

The World BusinessMirror

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

FDA says single-dose vaccine from J&J prevents severe Covid

A SHINGTON— Johnson & Johnson’s single-dose vaccine offers strong protection against severe Covid-19, according to an analysis released on Wednesday by US regulators that sets the stage for a final decision on a new and easier-to-use shot to help tame the pandemic. The long-anticipated shot could offer the nation a third vaccine option and help speed vaccinations by requiring just one dose instead of two. Food and Drug Administration scientists confirmed that overall the vaccine is about 66 percent effective at preventing moderate to severe Covid-19, and about 85 percent effective against the most serious illness. The agency also said J&J’s shot is safe. The analysis is just one step in the FDA’s evaluation. On Friday, the agency’s independent advisers will debate if the evidence is strong enough to recommend the shot. With that advice, the FDA is expected to make a final decision within days. The Covid-19 death toll in the US topped 500,000 this week, and the vaccination drive has been slower than hoped, hampered by logistical and weather delays. So far, about 44.5 million Americans have received at least one dose of vaccine made by Pfizer or Moderna, and nearly 20 million of them have received the second dose required for full protection. Test s showed t he P f i zer a nd Moderna vaccines were 95 percent e f fe c t ive at prote c t ion a g a i n st sy mptomatic Cov id-19. Dr. Paul Offit, a vaccine expert at

Children’s Hospital of Philadelphia, is part of the FDA advisory panel that will scrutinize the J&J data on Friday and cautions that none of the vaccines have been directly compared. Still, he was encouraged that one dose of the J&J vaccine appears as good at preventing serious illness as its two-dose competitors. “This is a vaccine to prevent you from going to the hospital and dying at a level that’s certainly comparable” to the Pfizer and Moderna vaccines, he said. J&J tested its single-dose option in 44,000 adults in the US, Latin America and South Africa. Different mutated versions of the virus are circulating in different countries, and the FDA analysis cautioned that it’s not clear how well the vaccine works against each variant. But J&J previously announced that the vaccine worked better in the US—72 percent effective against moderate to severe Covid-19, compared with 66 percent in Latin America and 57 percent in South Africa. South Africa recently began giving the J&J vaccine to frontline health workers on a test basis after deciding that a vaccine from rival AstraZeneca had not shown strong enough study results against the particularly concerning variant spreading there. “I was reassured ” that despite different variants, the J&J shot still protected against serious illness, said Dr. Jesse Goodman of Georgetow n University, a former FDA vaccine chief. “ That’s pretty robust data.”

This December 2, 2020 photo provided by Johnson & Johnson shows vials of the Janssen Covid-19 vaccine in the United States. Johnson & Johnson’s single-dose vaccine protects against Covid-19, according to an analysis by US regulators on February 24, that sets the stage for a final decision on a new and easier-to-use shot to help tame the pandemic. The Food and Drug Administration’s scientists confirmed that overall, it’s about 66 percent effective and also said J&J’s shot, one that could help speed vaccinations by requiring just one dose instead of two, is safe to use. Johnson & Johnson via AP In case the vaccines eventually need to be updated, manufacturers are working on adjustments to their recipes. Moderna announced Wednesday that it is ready to begin testing ex per imenta l doses that better match the South A fr ican version of the v irus. Across all countries, the analysis of the J&J vaccine showed protection began to emerge about 14 days after vaccination. But by 28 days after vaccination, there were no hospitalizations or deaths in the vaccinated group compared with 16 hospitalizations and seven deaths in study recipients who received a dummy shot. The FDA said effectiveness and safety were consistent across racial

groups, including Black and Latino participants. All of the world’s Covid-19 vaccines have been tested differently, making comparisons nearly impossible. It would not be surprising if one dose turned out to be a little weaker than two doses, and policymakers will decide if that’s an acceptable trade-off to get more people vaccinated faster. J&J has another large study underway to see if a second dose of its vaccine works better, raising the prospect that countries could eventually add a booster if one turned out to be warranted. Like other Covid-19 vaccines, the main side effects of the J&J shot are pain at the injection site and flu-like

fever, fatigue and headache. No study participant experienced the severe allergic reaction, called anaphylaxis, that is a rare risk of some other Covid-19 shots, although one experienced a less serious reaction. The FDA said there were no serious side effects linked to the vaccine so far, although it recommended further monitoring for blood clots. In the study, those were reported in about 15 vaccine recipients and 10 placebo recipients, not enough of a difference to tell if the vaccine played any role. J&J was on track to become the world’s first one-dose option until earlier this month. Mexico announced it would use a one-dose version from China’s CanSino, which is made with similar technology as J&J’s shot but initially was developed as a two-dose option until beginning a one-dose test in the fall. The Pfizer and Moderna vaccines now being used in the US and numerous other countries must be kept frozen, while the J&J shot can last t hree mont hs in a ref r igerator, making it easier to handle. AstraZeneca’s vaccine—w idely used in Europe and Britain—is made similarly and also requires refrigeration but takes two doses. If the FDA clears the J&J shot for US use, it will not boost vaccine supplies significantly right away. Only a few million doses are expected to be ready for shipping in the first week. But J&J told Congress this week that it expected to provide 20 million doses by the end of March and 100 million by summer. AP

Facebook says it will pay $1B over 3 years to news industry

acebook, following in Google’s footsteps, says it plans to invest $1 billion to “support the news industry” over the next three years. The social networking giant, which has been tussling with Australia over a law that would make social platforms pay news organizations, said it has invested $600 million since 2018 in news. Google said in October that it would pay publishers $1 billion over the next three years. News companies want Google and Facebook to pay for the news that appears on their platforms. Governments in Europe and Australia are increasingly sympathetic to this point of view. The two tech companies suck up the majority of US digital advertising dollars, which—among other problems—has hurt publishers. Facebook said on Tuesday it would lift a ban on news links in Australian after the government agreed to tweak proposed legislation that would help publishers negotiate payments with Facebook and Google. Facebook was criticized for its ban, which also temporarily cut access to government pandemic, public health and emergency services on the social networking site. Facebook said Tuesday that the changes allow it to choose which publishers it will support and indicated that it will now start striking such deals in Australia. Google had already been signing content licensing deals with Australian media companies, and says that it has arrangements with more than 50 publishers in the country and more than 500 globally. AP

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NBI, Senate set probe as Board of Inquiry is formed on PNPPDEA ‘misencounter’ By Rene Acosta

Covid-19 task force not keen on ‘full’ immunity to vaccine makers; Drilon says ‘against the law’

@reneacostaBM

By Samuel P. Medenilla

@jrsanjuan1573

& Butch Fernandez

& Joel R. San Juan

HE Nat iona l Bu reau of Investigation (NBI) will conduct a separate probe into the alleged “misencounter” between agents of the Philippine Drug Enforcement Agency (PDEA) and Philippine National Police (PNP) anti-illegal drug operatives that left three people dead and several others injured on Wednesday night. Justice Secretar y Menardo Guevarra said he has instructed the NBI to step in despite the creation of a joint PNP-PDEA Board of Inquiry (BOI) into the shooting at a parking lot outside the Ever Gotesco mall in Quezon City. The PNP and PDEA both gave assurances on Thursday that those found responsible over the shootout will be prosecuted. “We appeal to the public to allow us to finish the investigation,” said PNP spokesman Brig. Gen. Ildebrandi Usana at a news briefing attended by top officials, including PNP chief General Debold Sinas and PDEA Director General Wilkins Villanueva. “Cr imina l and administrative charges will be filed at the end of the investigation,” Usana added, as Sinas disclosed that a BOI and a joint investigation was being undertaken by the PNP and the PDEA. Sinas and Villanueva did not give details into the anti-drugs operations that resulted in the death of two policemen, a PDEA agent and a civilian informant. A policemen and three PDEA agents were also wounded. “We cannot give anything. How it happened. How it started and how it escalated. Those are the focus of the investigation,” Villanueva said, to avoid preempting the investigation. “It is very raw to make a statement on what happened. Which one is doing the buy-bust? We do not have the evidence [yet],” Villanueva said. “We will not preempt the investigation. If we have the true picture, you will have it,” Sinas told reporters. Autopsies were being conducted on the bodies; the firearms of those involved in the shootout are undergoing ballistic examinations and forensic examinations were being conducted, including on the mobile phones of the involved agents and policemen.

Senate hearing; NBI role

THIS developed as the head of the Senate Public Order Committee, Sen. Ronald “Bato” dela Rosa, said he will also open a separate inquir y on Tuesday, March 2. Meanwhile, Guevarra said the work by NBI is “separate and distinct from the probe to be conducted by an ad hoc joint PNP-PDEA Board of Inquiry by PNP Chief Debold Sinas.” National Capital Regional Police Office Director Major Gen. Vicente Danao said PDEA agents and the Quezon City Police District-Drug Enforcement Unit were conducting legitimate operations when the shooting broke out. Initial reports showed that QCPD’s District Special Operations Unit (DSOU) launched a buy-bust operation, not knowing they were dealing with PDEA’s Special Enforcement Service (SES) agents. However, PDEA spokesman Director Derrick Carreon said their agents were also on a legitimate anti-illegal drug operation in the same area.

Friday, February 26, 2021 A7

@sam_medenilla

@butchfBM

HE National Task Force Against Covid-19 has expressed its reservations over granting blanket immunity to vaccine manufacturers, a stand that the Senate minority leader has backed, as giving blanket immunity is “against the law and contrary to public policy.” During the televised public address of President Duterte on Wednesday evening, Chief implementer of the government’s national policy on Covid-19 Carlito G. Galvez revealed they want manufacturers to be still held liable for “malpractice and willful neglect” if they deliver defective vaccines.

He noted while the government is willing to grant the manufacturers’ demand to shoulder the indemnity for people who suffer adverse effects from vaccine use, they cannot absolve the pharmaceutical firms for all possible cases. “They should also be fair and maintain the specifications required in delivering the vaccines, which are safe and effective,” Galvez said. Galvez revealed late Wednesday the government cannot give blanket immunity out of concerns over possible malpractices and willful misconduct. Senate Minority Floor Leader Franklin M. Drilon said the version of the Covid-19 Vaccination Program Act passed earlier this week by lawmakers, vaccine manufacturers are “immune from suits for claims arising out of the administration of the

Covid-19 vaccine, but not for willful misconduct or gross negligence.” Section 8 of the said measure prov ides that “notw ithstanding any law to the contrary, public officials and employees, contractors, manufacturers, volunteers, and representatives of duly authorized private entities who are duly authorized to carry out and are actually carrying out the Covid-19 vaccination program shall be immune from suit and liability under Philippine laws with respect to all claims arising out, related to, or resulting from the administration or use of a Covid-19 vaccine under the...vaccination program except arising from willful misconduct and gross negligence.” The former justice and executive secretary explained that any vaccinee can file claims for damages, based on

the vaccine manufacturers’ liabilities arising from willful misconduct and gross negligence. “It is part of their individual and private rights that cannot be set aside by the government,” he said. Drilon said that the approved measure provides for an indemnity fund. “The government set up a P500million indemnity fund to compensate any person inoculated through the vaccination program. The fund will take care of the costs for deaths, permanent disabilities and hospital confinements caused by vaccination,” Drilon said. Earlier, some vaccine manufacturers reportedly sought total immunity from any liability, especially since their vaccines were only issued an Emergency Use Authorization (EUA) by regulatory agencies. The EUA was

given because the vaccines are being rolled out in an urgent bid to stop the spread of Covid-19, even though the manufacturers have yet to complete all the necessary phases of their respective clinical trials. Galvez noted they had expressed their position on the possible accountability of vaccine makers before lawmakers when they were still drafting the Covid-19 Vaccination Program bill. The bill, approved on third and final reading by both chambers, will be sent to the President for signing into law. It will provide protection not only to manufacturers but also to vaccine recipients, according to the vaccine czar. It is also expected to contain an P500-million indemnity fund, to be lodged with the Philippine Health Insurance Corp. (PhilHealth).

Senator worries over education quality decline amid Covid-19 distance learning

NITIAL Senate findings on “distance learning” option allowing schoolchildren to study at home away from classrooms amid the Covid-19 contagion got mixed results. “Assessment is already set in motion, meaning a lot of schools are already doing their own assessment and analysis whether our learners are in fact learning,” said Sen. Sherwin T. Gatchalian,” chairman of the Senate Committee on Education. Gatchalian reported Thursday that he got the preliminary data from Valenzuela, adding: “I found out that their students there are not doing so well, hovering around the 40 percent range.” The senator explained “the reason that I said they are not doing well is because pre-Covid, we already have a lot of problems in learner outcomes, if you remember we were last in PISA [Programme for International Student Assessment].” “We are playing catching up so meaning we have to score a high of 70 percent and above to catch up that low performance in PISA. Having scores around 40 percent doesn’t speak well of our distance learning,” he added. In an interview with ANC, Gatchalian clarified the “40 percent” pertained to the “Valenzuela assessment of our learners, meaning they assess our learners and they try to determine if their learners are indeed learning using these self-learning modules and the score that came out is around 40 percent.” “This is across subjects, this is an average but the caveat here is it’s only in Valenzuela,” he said. “I just want to share this because the other areas, the other divisions are still doing their own assessments.” Gatchalian adds his initial reaction was “it is very challenging to launch distance learning because not all our students have the luxury of Internet so all of them are using the manual selflearning modules and it’s very difficult because we rely on our parents to teach and to tutor our students and we all know that not all of our parents have graduated elementary or even high school.” The senator acknowledged that even those students with stable Internet connection are struggling with academic requirements. “In fact I conducted my own focus group on this and the initial reaction from parents is number one, concentration from the student is very difficult. There are a lot of distractions, especially if you are living in a small home. There’s a lot of distraction from your siblings, a lot of distractions from your parents themselves,” Gatchalian noted. He added that “even the parents are distracted also because they are working, they are doing household chores so a lot of distractions.” The senator conceded, “Concentration is very difficult inside the home,” noting this was “why the performance of our students are now affected because of the

complications inside their homes and launching this distance learning.” Gatchalian indicated he expects the Department of Education (DepEd) officials to provide the Senate panel a feedback upon completion of the DepEd assessment. “The first semester will end this week, February 27. So meaning we’re already halfway when it comes to the school year and assessment is being conducted in various divisions. They will probably be available to the public, to policy-makers, by the first or second week of March,” the senator said. He stressed the data that will come out from this assessment is “very important because it will help us come up with interventions that will help our students.” “It is important to pinpoint where the students are weak and it’s important to give them the right interventions so that they can keep up so that when they move to the next grade level, they will have an easy time to keep up,” the senator added. Asked about the gaps the Senate panel has identified aside from the problems with the learning modules and problems with households with no computers or even Internet connections, Gatchalian noted the most prevalent gaps the committee detected is “the intervention or the tutoring that our parents should give to our children.” “Those who are independent learners, meaning grade four or grade five and above they can study by themselves but from kindergarten all the way to grade three the participation of our parents is very important,” the senator said. “This is where the problem comes in because our parents come from different back-

grounds, some graduated from college well and good, some of them didn’t have the luxury of graduating basic education and that is where the problem comes in.” In the same interview Gatchalian reported he also talked to a lot of mayors, especially from rural areas where the complications come in because parents are not confident themselves to teach and to tutor their children, noting this was “why the clamor for face-to-face [learning at school] is quite loud in the rural areas because of these anecdotes and these examples.” The senator also acknowledged another problem when a family has to worry about other things like livelihood. “Definitely some of the comments that we get from the focus groups, the livelihood time or time to add additional money on the table is cut because they are now teaching or tutoring their children. So instead of going out to sell food or items to gain livelihood, that’s scrapped into half, waived from now to give time to teach our children. It is also affecting the livelihood and well-being of the entire family. So those are the things that we see in the distance learning complications...what we really want is for the government to intervene, DepEd to intervene to make it easier for example, some of the solutions that we are seeing is for our teachers to participate heavily, to add more time to connect with our students and to interact with our students. Some of the interventions that we are also seeing are roving teachers, teachers going to communities, interacting with students on a one-to-one basis and those students who need additional interventions, our teachers can go there and tutor the child.” Butch Fernandez

EPIC REMINDERS OF THE PAST

Unknown street artists paint a mural depicting the country’s beast of burden—the Philippine carabao—in full rainbow colors on the cylindrical façade of one of the two pre-war concrete water storage tanks at the corner of 15th Avenue and Colonel Bonny Serrano in Barangay Socorro, Quezon City on Wednesday, February 24, 2021. The twin massive structures built during the 1930’s somehow survived the devastation of Manila after World War II. PNA/RICO H. BORJA

Friday, February 26, 2021 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

It’s tough to be a hero

here are several wise old sayings about being sure about what you are saying before you talk. “Put your brain in gear before you put your mouth in action” is one. Another is “You better load your brain before you shoot your mouth.”

But in these current times—and unfortunately often in the press/ media—research is hard and “fact-checking” depends only a little on the truth and much on if the “fact” supports the narrative. Alexei Navalny is a “Russian opposition leader, lawyer, and anticorruption activist.” Now this is definitely someone that the “progressive” press/media in the West can get behind. “Russian opposition” means that he is against Vladimir Putin whom we all know is right up there with Hannibal “The Cannibal” Lecter. Count Dracula’s real name is Vlad the Impaler Dracula. There are no coincidences. Navalny is a lawyer and lawyers always fight for truth and justice, except when they don’t. Finally, he is an anti-corruption activist who has been nominated for a Nobel Peace prize along with Greta Thunberg. His parents have owned a basket-weaving factory since 1994. The man has perfect credentials. In August 2020 Navalny was poisoned with the Russian Novichok nerve agent, perhaps on the orders of his arch-nemesis Putin. That is certainly possible. Navalny has been a thorn in Putin’s neck for 20 years. The man is serious about government corruption since the government of the former USSR was perhaps the most corrupt in world history from the top down to the local guy who counted the sheep on some farm a thousand kilometers from Moscow. Post-Soviet Russia was the perfect blending of Mafia-like organized crime and “free and fair elections.” You may have been mostly ignorant of Alexei Navalny until recently. Since January one local news source has published 20 stories including an opinion piece titled “Navalny pulls a Ninoy in Russia. Who will pull a Navalny in the PH?” Granted, Navalny was facing immediate arrest for several crimes he was charged with if he decided to come back to Russia from Germany and Aquino’s murder was a senseless tragedy. But “People Power” probably started on the afternoon of July 14, 1789 in Paris, France with the Storming of the Bastille to release seven prisoners: four forgers, a “lunatic” imprisoned at the request of his family; Auguste-Claude Tavernier, who had tried to assassinate Louis XV 30 years before; and one “deviant” aristocrat imprisoned by his father. However, being a “hero” to the Progressive wing of global politics requires near-sainthood qualities. Just ask Myanmar’s Aung San Suu Kyi. She was right up there with Mother Teresa with a Nobel Peace Prize until she failed the “sainthood” test regarding the Rohingya people. Amnesty International named Navalny a “Prisoner of Conscience” after his arrest in January. Now, though, he is just an “ordinary” political prisoner because of old videos and social-media posts in which Navalny made controversial pronouncements. “Some of these comments, which Navalny has not publicly denounced, reach the threshold of advocacy of hatred, and this is at odds with Amnesty’s definition of a prisoner of conscience. Navalny has not publicly denounced his past comments.” The comments attributed to Navalny in the mid-2000s were not specified but might have been “statements seen as racist and dangerously inflammatory.” Imagine what would happen to him if he had denied Global warming or rejected transgender females competing in women’s sports? Since 2005

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On Covid-19 vaccines Sonny M. Angara

Better Days

ccording to the February 24 Bloomberg data, some 213 million Covid-19 vaccine doses have already been administered across 95 countries. And with an average inoculation rate of 6.1 million a day, it was estimated that it will take 5.1 years before global herd immunity—where at least 75 percent of the world’s population is vaccinated—will be achieved. Attaining this herd immunity to finally end the pandemic entails surmounting the greatest logistical challenge humanity has ever faced in modern history. It also involves navigating some of the deepest inequalities between and within nations. At a recent virtual meeting of the United Nations Security Council, UN Secretary-General Antonio Guterres decried current Covid-19 vaccination trends to be “wildly uneven and unfair.” He pointed out that while only 10 countries account for as much as three-fourths of all the vaccines that have already been administered, more than a hundred other countries, like the Philippines, have yet to receive a single dose. In late January this year, the

Economist Intelligence Unit (EIU) reported that of the 12.5 billion doses that the main vaccine producers have pledged for 2021, 6.4 billion were pre-ordered mostly by high-income countries. Having purchased such high volumes, richer countries like Canada and the United Kingdom could reportedly inoculate their entire populations many times over. One article in the South China Morning Post put it succinctly: “If the big problem of 2020 was the coronavirus, the big one of 2021 is shaping up to be vaccine inequality.” Leaving this issue unaddressed will surely prolong the pandemic and the economic recovery. In fact, a study commissioned by the International

The true result of an election

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Chamber of Commerce Research Foundation even estimated that vaccine inequality could cost the global economy up to $9.2 trillion. Of course, this is where the Covax facility of the World Health Organization (WHO) comes in, as it aims to provide every country—especially the ones with limited resources— with doses to inoculate at least 20 percent of their populations. By and large, however, low-income countries will still need to fight tooth and nail to purchase the doses they need, or attract donations from other countries. Having fallen behind, they will still be hard-pressed to scrounge up the resources, hasten the procurement process, and ensure the unhampered delivery and distribution of vaccines. The National Covid-19 Vaccination Program Act—which we recently sponsored, and which both Houses of Congress passed upon certification by the President—aims to provide some solutions to this problem. For one, it provides legal cover for our Local Government Units (LGUs) and private entities to procure and even make advance payments for vaccines and ancillary supplies and services, subject to certain conditions. By enabling LGUs and private entities this way, we free up even more resources to purchase vaccines. While there is roughly P82.5 billion

rothers and sisters, finally, after almost five years, the electoral protest of the son of a dictator and former Sen. Ferdinand “Bongbong” Marcos Jr. against Vice President Maria Leonor “Leni” Robredo has ended. The Supreme Court standing as the Presidential Electoral Tribunal released their unanimous decision last week. In spite of this decision, Mr. Marcos’ camp insists that this case hasn’t been ultimately trashed because the PET hasn’t addressed their protest’s third cause of action wherein they shall invalidate the votes coming from several provinces in Mindanao. This has been clarified by the PET, which released another statement saying that “the protest was dismissed.”

“Move on!” called out VP Leni’s supporters, several political allies, and civil society groups. In over four years before the end of VP Leni’s term that Mr. Marcos has assertively attempted to take, the process to resolve the case has taken so long. In 2017, the PET stood by the integrity of the 2016 elections. In 2019, the recount included in the second cause of action from Mr. Marcos’ protest finalized, and in the vote recount from the provinces he himself handpicked,

it was recorded that his then adversary VP Leni came victorious, and the results even concluded a higher number of votes in her favor. In the past year, Mr. Marcos’ camp, with the help of Solicitor General Jose Calida, aimed to relieve Justice Marvic Leonen from the PET. SolGen Calida stood as the Marcoses’ chief legal counsel despite his duties as a government lawyer. The magistrates disallowed the removal of Justice Leonen who took the lead in the case hearings. And even a week

In the book of John 8:32, Jesus said: “You will know the truth, and the truth will set you free.” In the end, the true decision of the people will remain. May every camp be open to accepting PET’s decision, and let this decision become a starting point for healing and unity. ago, the PET ultimately discarded the whole protest. VP Leni’s camp became joyous of the PET’s decision. As I write this column, Marcos’ camp still waits for the official copy of the decision with the hopes that the battle is yet to end. Alongside this, Mr. Marcos’ spokesman admitted that the former senator will be running again in the 2022 elections, but they have yet to mention for what position. When VP Leni was asked about her plans in the coming elections, she mentioned that she will savor her position that she defended for almost five years, and primarily focus on the current issues of the country. We are reminded by the social teachings of the Church about the importance of elections as a way to ensure the accountability of the people toward their government

that has been appropriated in 2021 for our national Covid-19 immunization program, we are adding more to this fund by allowing LGUs and companies to use whatever resources they have to purchase vaccines and the related supplies. In fact, based on a survey and study conducted by the League of Provinces of the Philippines (LPP), 70 LGUs are prepared to spend a little more than P13 billion to purchase and administer vaccines—P4.392 billion from 32 provinces and P8.72 billion from 38 cities and municipalities. Then as of December last year, hundreds of Filipino companies pooled their resources and were able to secure pledges of up to 17 million doses. With revenues down, we will need as much cash as we can to procure and administer vaccines expeditiously. The measure also responds to the issue of indemnification that some vaccine manufacturers have required for their supply agreements. Under the measure, a Covid-19 national indemnity fund—worth P500 million to be administered by PhilHealth— will be established for the compensation of any inoculated person who subsequently experiences severe adverse effects or even death. We believe that by putting such terms in black and white, we remove a See “Angara,” A9

officials. A free and clean election plays an important role in the relations between the people and public servants. Elections serve as a hiring process wherein the people choose or replace the people who will work on promoting the common good. Truly, it is good news that the almost five years of questioning on our Vice President’s victory had ceased. It would be great if protests like this conclude faster, and not last for many years. Ensuring a clean fulfillment of a position held by leaders is important in having strong institutions. Added to this, a strong campaign against cheating ensures an effective and fast addressing of protests involving elections. Brothers and sisters, in the book of John 8:32, Jesus said: “You will know the truth, and the truth will set you free.” In the end, the true decision of the people will remain. May every camp be open to accepting PET’s decision, and let this decision become a starting point for healing and unity. Make it a habit to listen to Radio Veritas 846 Ang Radyo ng Simbahan in the AM band, or through live streaming at www.veritas846.ph, and follow its Twitter and Instagram accounts @veritasph, and YouTube at veritas846.ph. For your comments, e-mail veritas846pr@gmail.com.

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Opinion

Policy tightrope

Where were you during the revolution?

BusinessMirror

Alvin Ang

Tito Genova Valiente

EAGLE WATCH

here have been concerns that rising inflation and the country remaining in recession will be leading to what is known as stagflation. Coined in the 70s during the oil shocks, stagflation is a confluence of rising prices, high unemployment and essentially an economy that is in recession. Unlike the economic events of the Great Depression wherein the economy went into a tailspin of falling demand, output and prices, stagflation can put an economy into a dilemma of which policy levers to move. As we are generally aware of, price increases are caused by both supply and demand conditions. In a recession economy where unemployment is high, demand tends to fall and retreats itself into essential consumption. This in turn will send signals to firms to decrease production. The general observation is that prices will fall. What have been used to resuscitate demand is a combination of fiscal and monetary policies to create jobs and increase consumption beyond the essential base. Fiscal policies can be in the form of subsidies to consumers or direct paycheck stimulus (as in the case of our ayuda) and monetary policies are usually focused on increasing money supply by cutting interest rates and reserve requirements. This remains to be the playbook in this pandemic. Presently, the country is slowly getting back into the economic groove. With quarantine restrictions remaining in place, continuing wait for the vaccine rollout and relatively unchanged number of daily cases since November, unemployment is likely to continue to about 6 percent to 8 percent range in the first quarter of the year with about 3 to 4 million unemployed. With muted demand in general and still a large number of people without jobs, the expectation is that prices will be generally weaker. This will conform basically to the Central Bank’s band of inflation of 2 to 4 percent even taking into consideration the base effects. Most people focused their expenditures primarily into the essential portions of their consumer basket, which will be food and utilities that have a combined share of about 60 percent of total basket. The Central Bank is able to bring down interest rates and release more money into the system because they initially saw no threat of inflation rising from the demand side for the most of 2020. However, the impact of the typhoons and floodings in November 2020 and the continuing increase of the ASF disease in Luzon and some areas in the Visayas affecting livestocks, primarily hogs, have unnecessarily created supply chokes. These supply chokes have continued to push pork prices up, which in turn have increased the prices of meat substitutes. This has also spilled to other food items in the basket, including rice. Food inflation actually started to pick up as early as October 2020 when it increased to 2.3 percent from 1.5 percent in September. It was 6.2 percent in January and we are looking at it possibly at 8.1 percent this February. If the supply chokes remain unchecked (which is possible since agricultural output and harvests have timelines), it will pick up to double digit by June, including impact of base effects. Under this scenario, overall inflation can breach 6 percent by April and will possibly remain at that level until September. This rising level of inflation nonetheless do not necessarily point to

Angara. . .

continued from A8

significant barrier to the signing of a vaccine supply agreement. We’ve also exempted purchases, importations and donations of Covid-19 vaccines from customs duties, VAT, excise tax, donor’s tax and other fees and charges. In doing so, we hope to encourage more parties to donate vaccines for the benefit of the public. With the assistance of our Senate colleagues, counterparts in the

Presently, the country is slowly getting back into the economic groove. With quarantine restrictions remaining in place, continuing wait for the vaccine rollout and relatively unchanged number of daily cases since November, unemployment is likely to continue to about 6 percent to 8 percent range in the first quarter of the year with about 3 to 4 million unemployed. stagflation. It will not reach double digit levels and unemployment will likely ease in the 2nd half of the year assuming the economy gets out of the recession by the 2nd quarter. The scenarios on the overall economy can change significantly by the 2nd half as vaccine rollouts begin and relaxed quarantine restrictions can help boost confidence. Nonetheless, it is not easy to address the inflation pressures as this is a question of supply of essentials. Putting price controls may unnecessarily add to the pressures, especially if supply remains weak. The approach is really a combination of time-bound increased importation and lowering of tariffs (this must be limited to the levels until local producers can catch up to past capacity), subsidies for the high transaction costs for local producers, addressing the ASF pandemic, and more importantly, digitizing the livestock industry. Since there are a lot of factors to consider in order to address this challenge, it will not be easy to lower the supply pressures immediately. Let us hope as well that oil prices do not go beyond their pre-pandemic levels as they will add pressure to overall domestic transaction costs. This is where you have the policy tightrope. The Central Bank would like to sustain the low interest rate environment to entice lenders and borrowers to increase loan uptakes. This is necessary for the recovery to be sustained. However, if inflation remains above 5 percent, this will mean that real interest rate will be -3 percent. It could push up borrowing rates of government and firms. Hence, it is unlikely that the BSP will keep rates unchanged for the rest of the year leading to a likelihood that policy rates have to increase, which can cool the revving up economic engine. The economic managers have to work closely to ensure that this supply choke is addressed within the 1st half of the year. Otherwise, the full benefit of easing restrictions, vaccine rollout and increasing confidence will be capped leading to a lower than expected recovery this year. House, and friends in the academe and the private sector, we were able to pass such an important measure in a short amount of time. And as we await the President’s signature, we hope that what we’ve come up with will facilitate the speedy procurement and administration of life-saving vaccines. Sen. Sonny Angara has been in public service for 16 years. 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

T was a Sunday, the 22nd of February. I should have left by that time for Morong, Bataan, where the Philippine Refugee Processing Center was, and where I was working. But the afternoon of that, the voice of Cardinal Sin was over the radio calling everyone to go to Edsa. No one really knew what would happen there. The news trickling in was a mix of confusing details.

Was it also in the early evening of the 22nd when the tired and tiresome voice of Marcos was on the air threatening to arrest everyone who went to Edsa? I was then staying somewhere in San Francisco del Monte. Edsa where the action was a bit far. It was not the Edsa of Quezon Avenue but the Edsa of Cubao and Ortigas. The voice of Sin and Marcos took turns. Like anyone who was weary of some 20 years of Marcos/ Martial rule, I was ready to join any movement that would put a stop to dictatorship. We were being told to do things for so many years that we did not know what was right from wrong anymore. It was a period when everything was being faked—the people’s consent to martial rule, the people’s acquiescence, and the people’s consensus to accept that Marcos had won the snap elections. Those who were against Marcos knew they had the number but on February 20, 1986, Marcos declared himself the winner of the election. Marcos was going to be the president again. The mass reaction was no more a political will as it was a socio-psychological fatigue. Tama na! “Enough” was a rallying cry and it worked. That day the dictator declared himself the president, Cory Aquino had also gathered her supporters in Manila. She called for a boycott of all companies linked to the cronies of Marcos. My friends who met that night were worrying over one thing: could we boycott the only beer we drank? Do we go back to the refugee camp? Then someone asked: are we

ready to die? It was annoying to see the same faces on free TV, the same lying voices of concern for the nation. But I was not ready to die. Dying was not factored in my idea to join the masses, which referred to the crowd that was getting more massive each hour in Edsa. There were many reports on the radio. While I wondered if the announcers were really being factual, their voices and encouragement

Friday, February 26, 2021

sounded truthful enough. I found myself leaving the boarding house and taking the next jeep that was going to the direction of Kamuning. From there, there were very few cars going to the direction of Cubao. I walked fast. When I reached the corner of Aurora Boulevard and Edsa, I saw on one side of the highway buses parked side by side and several buses deep to block any car coming from the North. It was about four in the afternoon, and there was no order yet on the highway. From the corner going to Araneta Center, I saw some young men unfurl a black cloth. It stretched from end to end, covering the entire highway. There were two lines of defenses then: the buses on the other corner and the black cloth on the other. Huddling close to the black cloth were women who started building a fire. Soon kettles were burning and giving out smoke and anyone could ask for a cup of instant coffee from the group. I crossed Edsa and looked for my friends, all from the Philippine Refugee Processing Center. Like me, they opted not to

Manny F. Dooc

TELLTALES

ne score and 10 years ago, Filipinos were on cloud 9 following the heady days of the Edsa Revolution. The sustained peaceful demonstrations and civil disobedience that started on February 22 and culminated on February 25, 1986 had placed the Philippines on the world map and made the Filipinos the pride of the human race. We have proven to all and sundry that peaceful protests and civil disobedience could topple a dictator who had been entrenched in power and shielded by a politicized military for over two decades. Our unique People Power has become a source of hope and inspiration to all freedom-loving people around the world. Some two decades later, massive people’s discontent fomented protests and uprising against despotic rulers in the Middle East. It spread like wildfire across the region, which saw the powerful ruler of Egypt, Hosni Mubarak, who had ruled his country with an iron fist ousted from power on February 11, 2011. Other authoritarian regimes in the region had suffered the same fate. Our People Power predated the Arab Spring that was ignited by the public outrage over the selfimmolation of Mohamed Bouazizi, an impoverished fruit vendor in Tunisia, on December 17, 2010. It was reported that he was repeatedly harassed by the police while hawking on the streets. Bouazizi got fed up, set himself afire in front of a court building while shouting: “How do you expect me to make a living?” Four weeks later, the tyrant ruler of Tunisia, President Zine El Abidine Ben Ali, had stepped down from his office. These ground shaking political events also dislodged or disrupted most of the autocratic regimes in the Arab world.

go back to Morong so they could join the EDSA crowd. As there were no more cars, I was walking in the middle of Edsa. Half running and half bouncing, I soon hit a pothole. In a few seconds, I was limping. The friends saw my condition but I waved off their concern. We went to Edsa and positioned ourselves in front of one of the gates of Camp Aguinaldo. Doctors and nurses were all over the place and when they saw me, they volunteered to look at my foot. They all agreed it was a sprain. One of them found an empty bottle of softdrink and instructed me to roll my foot over them as strongly as I could. It was painful. We did not stay that night in Edsa. We were not sure what would happen but we promised to be back the next day with provisions of our own: water, food and anything we could share with the people there. It appeared that bags of pan de sal were being distributed and boiled saba was popular among those keeping vigil. We were back the next day. It was the 23rd of February. The celebratory air was gone. There was tension in the air as rumors circulated that poisoned water were being distributed by some individuals. There was news also that planes were being readied to fly over us and drop bombs. Every now and then, calls for reinforcement of barricades at the Libis area were being made. Men would not move fast enough and women, who were quick on their feet, would soon fill the trucks that would bring the support to the other side of the highway. On the second day, I noticed there were Marian images in Edsa. The La Naval de Manila was there, her presence quite confusing if one knew her history (she protected the colonizers from other colonizers). Then the image of our Lady of Fatima made her appearance. By default, the battle was between good and evil. We were, fortunately, on the side of the ideological good. Two more days followed. The Marcoses first fled. Exiled. Then the Marcoses came back. Elected. Edsa has become but a traffic problem.

Edsa: The unfinished revolution

The common denominators in all of these political upheavals were: firstly, authoritarian rule marked by human rights abuses and political rights repression. Secondly, the dire poverty of the population resulting in social inequities, which fan the flame of discontent among the population. The abuses by the ruling class, the rampant corruption of government officials, repression of human and political rights and absence of the rule of law create a revolutionary climate. Economic and political power are concentrated on a narrow few who controlled the economy and government at the expense of the majority. Many nations fail because of people’s unrest. So, unless

these powers are distributed to the broad masses of people, the elites will continue to control the government and the economy. The only recourse is for the people to revolt to acquire greater political rights and gain a share in the economic wealth. No real change will occur unless the basic structure of society is overhauled. What will happen is that one corrupt and despotic ruler is deposed, only to be replaced by another corrupt and oppressive leader. After the Edsa revolt, we have seen a succession of leaders, but nothing significant has changed in our society and government. Every election, we vote into office a candidate who promises us everything only to regret later our choice. Once elected, he repudiates his pledges and betrays our trust. He feathers his own nest and consolidates his powers and resources to keep him and his party in power. He anoints and empowers his successor, who is either his kin or his lackey, to protect himself from future prosecution from crimes and venalities he committed while in office. He fills critical institutions like the military and the courts with his allies and minions to shield himself from any accountability after his term. We, Filipinos, started it all. We did not realize then that the public discontent that erupted in the Philippines would encourage other nations some 20 years later down the road to depose their own despots. This was the aftermath of our People Power. Abusive regimes that are allergic to change and reforms fall prey to the call for democratization. Strongmen backed up by subservient military and powerful foreign allies that profit from the corrupt regime crumble against

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the tide of popular uprising. Their wealth, power and might were no foil against mass discontent. This is the lesson of history lifted from the Edsa People Power and the Arab Spring. For us Filipinos, the Edsa revolt is an unfinished business. It would seem that removing an unworthy leader is a never-ending story in Philippine politics. After Marcos, we had Erap. And we almost forced out Arroyo. We overthrow one tyrant after another and collapse a depraved regime with a new order. We have done it through People Power, or by way of elections. But they did not result in a restructuring of our government and society, which could bring about the changes that we desire. We started with high hopes and ended with gross disappointment. After a series of failed expectations, is it still possible to install a new leader who can effect the political transformation that we need and complete the unfinished revolution that our people have aspired for? Can the new leader be replaced by worthy successors who can continue the crusade for reforms? Can we hold clean and honest elections that will give us outstanding public servants who are dedicated to serve the best interests of our impoverished people? Are we capable of electing into office leaders who will be bold to change the basic structure of our government and lead our country to real reforms? Otherwise, our wretched people, the Bouazizis of our country, who roam our streets to eke out a living, will cry for justice and compassion every time they get harassed by the police and the anti-hawkers’ squad. Let’s not wait until someone sets himself afire. That may ignite another People Power.

A10 Friday, February 26, 2021

PCIC okays DA bid to hike indemnity for insured hogs By Jasper Emmanuel Y. Arcalas

@jearcalas

HE Philippine Crop Insurance Corp. (PCIC) has relaxed its insurance rules for hogs, now allowing the coverage of pigs ordered to be culled by the government, and raising indemnity to

100 percent of the insurance cover. In a statement on Thursday, the Department of Agriculture (DA) said the PCIC Board of Directors approved its proposal to pay raisers’ losses resulting “from government-ordered culling or slaughter of insured hogs.” The DA added that their proposal

to “raise the payable amount up to 100 percent of the insurance cover or the total sum insured” was also approved by the PCIC Board of Directors last February 24. Prior to the approval of the proposals, insured hogs could not be indemnified if their deaths were the result of government-ordered

culling during epidemic outbreaks. Furthermore, indemnity payouts are only 60 percent of total sum insured (TSI). “Bold policy actions are needed in periods of adversity like the hog industry is in now, and we thank the PCIC for this quick response that sends the message [that] the

DA and its family of agencies are here to help our stakeholders, particularly the hog industry, build resilience and sustainability,” Agriculture Secretary William D. Dar said. The DA said the relaxation of insurance policies would “help encourage the raising of over 10

million heads of swine among commercial and backyard raisers.” The DA added, “The stocks to be insured will be a mix of fatteners and breeders, including grandparent stock, among the former, and fatteners and breeders, among the latter.” Continued on A2

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Meralco sees lower rates in March By Lorenz S. Marasigan

@lorenzmarasigan

anila Electric Co. (Meralco) said it expects power rates to go down for the second consecutive month in March due to lower rates from its suppliers, a company official said on Thursday. “Currently, we are still awaiting the final bills from our power suppliers, but based on initial projections, there is a strong likelihood that power rates for March 2021 will go down, as this will be the second consecutive month of decrease for the year,” Agapito Joe Zaldarriaga,

the company’s spokesman, said. Meralco cut its power rates by 7 percent per kilowatt hour to P8.6793/kWh in February or about P14 for the total bill of residential customers consuming 200 kWh per month. The reduction in generation

charge in February was due to lower fixed charges from the Power Supply Agreements. Transmission charge for residential customers also registered a reduction of P0.0128 per kWh due to lower Ancillary Service charges while taxes and other charges also registered a net decrease of P0.0154 per kWh. This month’s overall rate, decline of which was driven by the lower generation charge, is also 18 centavos lower than that of the year prior. “Notably, the March power rate will already include the average refund rate of P0.1528 per kWh, as part of Meralco’s Distribution Rate True-Up,” Zaldarriaga said. The Energy Regulatory Commission (ERC) has granted the re-

quest of Meralco for the issuance of a provisional authority, with the refund to be implemented in approximately 24 months starting March 2021. “Meralco’s refund rate will be reflected as a separate line item in the bills of the customers during the refund period,” Zaldarriaga said. To recall, Meralco earlier asked the ERC to approve its petition to refund P13.89 billion of over-recoveries based on its actual weighted average tariff charges (AWAT) from July 2015 to November 2020. “This projected decrease in power rates will continue the downward trend in the cost of electricity, with overall rates having decreased by more than P1 per kilowatt hour since the start of 2020,” Zaldarriaga said.

PNR cancels ₧921-M train supply contract

he Philippine National Railways (PNR) has canceled its P921-million train supply contract with CRRC Zhuzhou Locomotive Co. Ltd., after the Commission on Audit (COA) questioned the procurement processes implemented by the railway regulator. PNR General Manager Junn B. Magno said with the cancellation of the contract with the Chinese manufacturer, the management will soon start the bidding process

for the supply of new trains. “The PNR board decided to cancel that contract. We are in cancellation proceedings and we will rebid the project. We’re in the pre-procurement process to comply with the provisions of the SEC and the GPBB,” he said, referring to the Securities and Exchange Commission and the Government Procurement Policy Board. To recall, the PNR management declared CRRC Zhuzhou was

the winning bidder for the P921million contract for the supply of 3 three-car diesel multiple unit train sets. According to the audit commission, CRRC failed to submit post-qualification requirements, a move that should have resulted in its disqualification. The new trains were poised to be utilized for the PNR’s long haul services. Magno did not provide further details as to the schedule of the

rebidding of the contract. The contract for the procurement of the trains was signed in December 2019, two months after CRRC Zhuzhou Locomotive Co. Ltd. was declared the winning bidder for the delivery of the trains. The contract for the procurement of t he st a nd a rd gauge Diesel Multiple Unit trains was signed by Magno and CRRC Locomotive Vice President Wang Qiaolin. Lorenz S. Marasigan

Friday, February 26, 2021

Manila Water breaks ground for 42nd STP By Jonathan L. Mayuga @jonlmayuga

anila Water, the concessionaire for the East Zone of the Metropolitan Waterworks and Sewerage System (MWSS) said on Thursday that it recently held the groundbreaking ceremony for the Aglipay Sewage Treatment Plant (STP) in Mandaluyong City. The said STP is the company’s 42nd facility. It will have a treatment capacity of 60 million liter per day (MLD) of wastewater to be collected from 2,115 hectares fo catchment area spanning across Mandaluyong, San Juan, and Quezon cities. The facility’s capacity is expandable up to 120 MLD after the complementing network of 53 kilometers of sewer lines is completed. The Mandaluyong West Sewerage System is designed to serve a population of up to 652,000. In a statement, Abelardo P. Basilio, Manila Water Operation’s Chief Operating Officer said the project is a vital compolnent of the company’s wastewater masterplan which aims to provide 100 percent sewer and sanitation coverage to the entire East Zone by 2037. “This masterplan will help ensure the sustained care for our waterways through short term interventions and long-term technical solutions,” Basilio further said. The P4.164-billion Aglipay STP is the first wastewater treatment facility of Manila Water that will use the Moving Bed Biofilm Reactor (MBBR) process with Biological Nutrient Removal (BNR) technology, which will promote treatment efficiency and improve effluent quality. Construction of the STP is expected to be completed by 2024 and the sewer network by 2025.

Mandaluyong City Mayor Carmelita Abalos and Metropolitan Manila Development Authority (MMDA) Chairman Benhur Abalos, Metropolitan Waterworks and Sewerage System-Regulatory Office (MWSS-RO) Chief Regulator Patrick Ty along with representatives from the Department of Environment and Natural Resources (DENR), headed by the Director Jacob Meimban, Jr., of the Manila Bay Coordinating Office, took part in the groundbreaking ceremony. In her speech, Abalos expressed her gratitude and continued support for Manila Water of her constituency in Mandaluyong. MMDA Chairman Abalos, meanwhile, commended Manila Water for its part in addressing what he called Metro Manila's "urban decay" underscoring the importance of the soon-to-bebuilt wastewater facility in helping alleviate the current concerns on environmental protection plaguing the country. Meimban shared DENR’s appreciation of the company’s contribution towards the clean-up of Manila Bay. “Since Sec. Cimatu organized the Manila Bay Task Force and launched the ‘Battle for Manila Bay’, Manila Water has been aggressive in its efforts to help clean the tributaries that empty into Manila Bay, helping us move closer to our goal of bringing Manila Bay back to its old glory." Manila Water President and CEO Jose Rene Almendras expressed his appreciation to the different stakeholders particularly the local government of Mandaluyong for hosting the site of the STP. “Once completed, Mandaluyong City can boast of a truly world-class sewage treatment facility that will redound to urban growth and greatly help in environmental protection," Almendras added.

Companies BusinessMirror

Friday, February 26, 2021

PSE STOCK QUOTATIONS

February 24, 2021

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

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

43.5 103.2 84.1 23.8 7.85 9.87 50.25 10.74 22.05 24.45 54.5 96.35 17.04 127.4 73 1.39 3.85 0.59 3.26 1.48 0.41 0.77 146.7 2,198

44.5 104.5 84.15 23.9 8.49 9.88 50.35 10.76 22.8 24.85 54.55 114.9 17.3 128.7 73.9 1.4 3.87 0.6 3.5 1.51 0.44 0.83 146.8 2,200

43.4 105 84.05 23.9 7.85 9.95 50.5 10.8 22 25.6 55 96.35 17.1 129.8 74 1.47 3.97 0.58 3.4 1.5 0.43 0.83 147.2 2,198

43.4 105.7 84.4 23.9 8.49 10 51.2 10.8 22 26 55 96.35 17.1 129.8 74 1.48 3.97 0.6 3.4 1.54 0.44 0.84 147.2 2,198

43.4 103 84 23.8 7.85 9.85 50.25 10.76 22 24.4 54.55 96.35 17.04 125.5 73 1.28 3.8 0.58 3.22 1.44 0.405 0.77 146.8 2,198

43.4 103.2 84.1 23.85 8.49 9.87 50.25 10.76 22 24.45 54.55 96.35 17.04 128.7 73.05 1.39 3.85 0.6 3.22 1.48 0.41 0.82 146.8 2,198

500 21,700 4,215,020 437,227,955 2,540,790 213,735,504.50 68,200 1,626,890 700 5,623 334,400 3,310,676 7,517,220 379,579,188.50 6,000 64,664 5,000 110,000 1,431,100 35,775,135 2,440 133,190 220 21,197 9,400 160,380 347,390 44,088,907 49,100 3,588,608 3,783,000 5,109,060 243,000 940,260 21,000 12,540 87,000 289,020 437,000 643,600 1,440,000 588,850 180,000 148,280 3,450 507,322 185 406,630

INDUSTRIAL

AC ENERGY ALSONS CONS ABOITIZ POWER BASIC ENERGY FIRST GEN FIRST PHIL HLDG MERALCO MANILA WATER PETRON PETROENERGY PHX PETROLEUM PILIPINAS SHELL SPC POWER VIVANT AGRINURTURE AXELUM CNTRL AZUCARERA CENTURY FOOD DEL MONTE DNL INDUS EMPERADOR SMC FOODANDBEV ALLIANCE SELECT FRUITAS HLDG GINEBRA JOLLIBEE LIBERTY FLOUR MACAY HLDG MAXS GROUP MG HLDG SHAKEYS PIZZA ROXAS AND CO RFM CORP ROXAS HLDG SWIFT FOODS UNIV ROBINA VITARICH CONCRETE A CONCRETE B CEMEX HLDG EAGLE CEMENT EEI CORP HOLCIM MEGAWIDE PHINMA TKC METALS VULCAN INDL CROWN ASIA EUROMED LMG CORP MABUHAY VINYL PRYCE CORP CONCEPCION GREENERGY INTEGRATED MICR IONICS SFA SEMICON CIRTEK HLDG

7.22 1.3 25 1.1 29.8 74 275 15.18 3.56 3.76 11.7 21.9 10.08 14.52 6.96 3.35 13.02 17.82 8.5 7.27 9.94 66.75 0.62 1.48 51.2 172.9 33.15 7.4 6.49 0.395 7.3 1.12 4.63 1.69 0.137 129.7 0.87 52.05 54.2 1.3 11.94 8.4 6.3 7.18 10.9 1.3 2.8 2.05 2.12 4.7 4.5 5.4 20.7 4.04 12.98 1.21 1.52 6.54

7.23 1.32 25.3 1.11 29.85 74.45 276.2 15.2 3.57 3.78 12.48 21.95 10.1 14.9 7.14 3.37 13.88 18 8.66 7.28 10 67 0.63 1.49 51.5 173 34.9 7.41 6.55 0.405 7.4 1.13 4.7 1.73 0.14 129.9 0.88 54 55.25 1.31 12 8.44 6.35 7.25 10.92 1.31 2.82 2.07 2.14 4.98 4.62 5.45 21 4.08 13 1.26 1.53 6.56

7.4 1.32 25.05 1.15 29.9 74.6 278.8 15.7 3.56 3.8 12.2 22 10.12 14.5 7.23 3.3 13.6 17.9 8.62 7.3 10.02 67.6 0.64 1.48 51.1 178.1 35.25 7.41 6.5 0.42 7.31 1.16 4.63 1.7 0.141 132.5 0.9 52 54.2 1.35 12.68 8.85 6.28 7.3 10.88 1.47 2.98 2.15 2.23 4.78 4.5 5.41 20.25 4.15 13.4 1.25 1.52 6.61

7.4 1.32 25.25 1.17 29.9 74.6 279 15.7 3.57 3.8 12.48 22 10.16 14.52 7.23 3.35 13.6 18 8.9 7.3 10.02 68 0.64 1.5 51.5 178.9 35.25 8.09 6.63 0.425 7.4 1.16 4.64 1.7 0.142 132.8 0.9 52.3 54.2 1.35 12.7 8.9 6.31 7.3 10.92 1.47 2.99 2.2 2.23 4.78 4.5 5.42 21.3 4.23 14 1.26 1.6 6.61

6.89 1.28 24.85 1.02 28.5 74 275 15.04 3.54 3.76 11.7 21.5 10.06 14.5 6.9 3.1 13 17.7 8.41 7.08 9.93 66.75 0.61 1.43 51.1 172.9 32.5 7.41 6.44 0.34 7.2 1.12 4.63 1.69 0.13 125.2 0.86 52 54.2 1.26 11.92 8.4 5.95 7.05 10.88 1.21 2.66 2 2.08 4.72 4.5 5.4 20.25 3.96 12.6 1.2 1.45 6.15

7.22 1.3 25 1.1 29.85 74.45 275 15.2 3.56 3.76 12.48 21.95 10.1 14.52 7.14 3.35 13.02 18 8.68 7.28 10 67 0.63 1.49 51.5 172.9 34.9 7.41 6.49 0.4 7.3 1.12 4.64 1.69 0.137 129.9 0.88 52.3 54.2 1.31 12 8.4 6.3 7.25 10.92 1.31 2.8 2.05 2.14 4.72 4.5 5.4 21 4.04 13 1.21 1.53 6.54

75,130,800 2,110,000 1,540,500 170,241,000 970,700 14,540 300,140 3,934,800 1,503,000 58,000 29,000 671,200 307,400 1,300 863,900 2,448,000 27,200 1,411,900 222,800 886,900 426,200 61,170 1,823,000 15,018,000 16,480 1,052,810 12,200 2,100 425,200 61,110,000 258,400 2,502,000 6,000 83,000 27,850,000 1,730,560 6,111,000 2,880 50 9,799,000 722,000 1,022,500 1,375,400 1,562,300 46,300 4,857,000 47,401,000 1,883,000 311,000 171,000 1,000 47,600 481,800 21,763,000 6,228,300 1,517,000 4,274,000 6,313,600

-192,338,207 -52,355,729 -292,640 -3,925 -1,042,290 -232,532,521 -18,794,375 -1,092 -1,927 -1,710 -16,252,641 -58,310 129,810 -1,740.00 6,650 -4,050 -1,540 116,176 406,630

533,805,191 2,737,170 38,572,810 185,088,480 28,386,440 1,083,126 82,892,228 59,963,278 5,344,490 219,040 355,560 14,604,320 3,099,180 18,864 6,066,404 8,009,190 356,358 25,274,364 1,900,752 6,407,132 4,244,781 4,105,416.50 1,132,030 21,823,130 843,828 183,678,506 418,705 15,629 2,770,782 23,449,450 1,886,106 2,809,610 27,830 140,320 3,758,500 224,749,461 5,313,420 149,811 2,710 12,671,450 8,777,868 8,818,548 8,421,415 11,169,309 504,864 6,310,950 132,111,210 3,893,270 663,860 812,210 4,500 257,099 9,858,620 88,536,300 82,602,892 1,850,470 6,409,580 40,287,698

24,228,581 -195,000 -9,156,775 -3,966,320.00 -121,975 -697,311 -28,560,606 -14,120,918 -419,780 27,560 9,515,570 -2,016 -94,383 3,817,000 10,540 -1,041,322.00 7,030 -604,096 -62,680 -592,937.00 -3,399,800 -29,943,039 3,410 -1,482 1,592,677 2,230,950 1,052,720 -219,470 -4,630 -1,700 -2,720 -88,434,038 -183,500 -1,084 425,750 -3,151,116 -2,183,553 -170,327 -1,923,834 -246,476 26,200 951,840 85,330 128,030 -4,500 -1,620 73,775 -345,830 13,000,032 -2,400 97,260 874,406

HOLDING & FRIMS ABACORE CAPITAL 1.13 1.14 1.18 1.19 1.02 1.13 60,117,000 66,162,920 7.26 7.5 8.04 8.04 7.22 7.24 312,700 2,344,724 ASIABEST GROUP AYALA CORP 751.5 752 755 760 744 751.5 272,840 205,146,975 42.8 43.45 43.55 43.55 42.5 43.45 731,200 31,558,220 ABOITIZ EQUITY ALLIANCE GLOBAL 10.4 10.46 10.3 10.46 10.1 10.46 3,030,900 31,348,622 AYALA LAND LOG 2.95 2.96 3.07 3.07 2.84 2.96 6,248,000 18,290,740 7.35 7.39 7.35 7.37 7.35 7.35 69,300 509,555 ANSCOR ANGLO PHIL HLDG 0.81 0.82 0.84 0.87 0.78 0.82 10,833,000 8,798,310 0.87 0.88 0.9 0.93 0.83 0.88 10,670,000 9,106,000 ATN HLDG A 0.84 0.9 0.9 0.9 0.86 0.9 217,000 187,380 ATN HLDG B COSCO CAPITAL 5.36 5.4 5.45 5.45 5.32 5.4 1,513,700 8,135,468 5.24 5.38 5.27 5.38 5.2 5.38 4,524,100 23,986,338 DMCI HLDG FILINVEST DEV 8.8 8.94 8.79 8.8 8.75 8.8 45,800 402,870 0.236 0.24 0.238 0.238 0.234 0.235 190,000 44,840 FORUM PACIFIC 540 548 540 549 535.5 548 157,690 85,370,690 GT CAPITAL HOUSE OF INV 3.6 3.7 3.7 3.8 3.6 3.6 84,000 309,370 62.1 63.2 63 63.3 62.1 62.1 1,809,370 113,002,829 JG SUMMIT JOLLIVILLE HLDG 4.66 5.38 4.66 4.66 4.66 4.66 1,000 4,660 1.61 1.62 1.74 1.74 1.38 1.62 59,925,000 94,954,050 LODESTAR 3.74 3.78 3.74 3.74 3.74 3.74 140,000 523,600 LOPEZ HLDG LT GROUP 14.02 14.4 14 14.4 13.72 14.4 1,446,100 20,390,274 0.52 0.55 0.53 0.55 0.52 0.55 931,000 491,200 MABUHAY HLDG 1.84 2.07 1.91 1.91 1.8 1.8 30,000 55,150 MJC INVESTMENTS METRO PAC INV 4.15 4.17 4.19 4.19 4.1 4.17 15,950,000 66,085,720 4.9 5 5.05 5.19 4.8 4.9 97,200 483,325 PACIFICA HLDG PRIME MEDIA 2.39 2.4 2.38 2.53 2.12 2.39 13,622,000 32,225,520 2.9 2.95 3.4 3.4 2.75 2.95 784,000 2,261,860 REPUBLIC GLASS 1.23 1.3 1.29 1.33 1.23 1.3 560,000 709,680 SOLID GROUP SYNERGY GRID 311 313 313 313 313 313 550 172,150 1,035 1,038 1,054 1,054 1,035 1,038 342,435 356,334,580 SM INVESTMENTS SAN MIGUEL CORP 123 125.7 125.4 125.7 121.9 125.7 133,220 16,483,696 SOC RESOURCES 0.79 0.8 0.8 0.81 0.78 0.8 998,000 791,640 2.38 2.63 2.39 2.39 2.38 2.38 6,000 14,330 SEAFRONT RES TOP FRONTIER 135.9 142 135.8 142 135.8 142 930 129,431 0.235 0.245 0.235 0.245 0.232 0.245 1,680,000 402,470 WELLEX INDUS 0.235 0.238 0.245 0.245 0.235 0.238 3,660,000 872,300 ZEUS HLDG

1,418,530.00 11,775 -63,643,745 -13,721,020 -8,555,546 3,926,080 657,990 339,816 -1,366,922.00 -15,223,805 -111,000 -55,431,998.50 -58,140 -385,220 -3,422,834 -47,320 -7,776,490 28,320 -756,730 -5,660 -3,750 -74,538,305 742,303 -21,300 -

PROPERTY ARTHALAND CORP 0.63 0.64 0.64 0.65 0.62 0.63 1,207,000 754,280 38.55 38.65 39.65 39.65 38.25 38.65 6,423,200 248,442,975 AYALA LAND ARANETA PROP 1.3 1.4 1.42 1.42 1.26 1.4 270,000 344,530 33.9 33.95 34.3 34.45 33.5 33.9 1,079,800 36,662,250 AREIT RT BELLE CORP 1.64 1.65 1.66 1.66 1.64 1.64 324,000 535,890 A BROWN 0.92 0.93 0.93 0.93 0.89 0.92 2,595,000 2,345,420 0.77 0.79 0.77 0.77 0.77 0.77 80,000 61,600 CITYLAND DEVT CROWN EQUITIES 0.142 0.144 0.147 0.147 0.141 0.142 3,430,000 490,500 7.19 7.2 7.08 7.5 7 7.2 1,629,500 11,735,599 CEBU HLDG 5.21 5.25 5.25 5.25 5.15 5.25 1,248,000 6,507,020 CEB LANDMASTERS CENTURY PROP 0.405 0.41 0.405 0.43 0.4 0.41 16,520,000 6,857,100 0.335 0.34 0.35 0.35 0.335 0.335 4,090,000 1,383,650 CYBER BAY DOUBLEDRAGON 14.9 15 15.08 15.18 14.68 15 2,071,900 30,890,230 6.55 6.6 6.7 6.7 6.5 6.55 78,900 518,320 DM WENCESLAO 0.29 0.3 0.305 0.305 0.28 0.3 3,510,000 1,005,600 EMPIRE EAST EVER GOTESCO 0.085 0.091 0.087 0.091 0.086 0.091 760,000 65,510 1.14 1.15 1.15 1.15 1.12 1.15 8,353,000 9,483,750 FILINVEST LAND GLOBAL ESTATE 0.9 0.91 0.91 0.91 0.89 0.9 1,700,000 1,530,120 7.43 7.5 7.5 7.5 7.43 7.43 12,900 96,309 8990 HLDG 1.45 1.46 1.51 1.64 1.4 1.46 24,268,000 37,427,620 PHIL INFRADEV CITY AND LAND 0.69 0.73 0.7 0.7 0.69 0.69 12,000 8,390 3.7 3.71 3.76 3.79 3.68 3.7 10,907,000 40,442,860 MEGAWORLD 0.5 0.51 0.52 0.53 0.46 0.5 164,908,000 81,238,080 MRC ALLIED PHIL ESTATES 0.45 0.46 0.425 0.46 0.425 0.45 2,130,000 946,650 1.5 1.51 1.5 1.52 1.46 1.5 1,814,000 2,723,100 PRIMEX CORP ROBINSONS LAND 18.72 18.76 19 19 18.66 18.72 2,626,100 49,286,964 0.285 0.295 0.29 0.295 0.285 0.295 750,000 215,250 PHIL REALTY 1.42 1.43 1.54 1.55 1.41 1.42 1,824,000 2,644,340 ROCKWELL SHANG PROP 2.7 2.76 2.73 2.77 2.73 2.76 585,000 1,619,230 2.11 2.19 2.19 2.2 2.11 2.19 411,000 882,590 STA LUCIA LAND SM PRIME HLDG 35 35.1 35.55 35.8 35 35 9,081,700 318,909,160 VISTAMALLS 3.89 3.98 4 4 3.86 3.98 35,000 137,000 1.73 1.75 1.8 1.87 1.72 1.73 3,498,000 6,239,090 SUNTRUST HOME PTFC REDEV CORP 40.3 47.6 40.25 40.25 40.25 40.25 300 12,075 4.22 4.24 4.2 4.22 4.15 4.22 1,813,000 7,585,270 VISTA LAND

-7,485,645 -10,950,700.00 -6,570 251,550 44,660 -1,470 -135,000 -105,109 -564,600 33,500 4,717,982 -2,610 214,190 2,476,810 -20,441,240 257,335 -22,350 1,125,500 -29,823,654.00 -389,180 -49,650 -4,240 -197,327,185 -326,990 1,874,090

SERVICES ABS CBN 11.98 12 12.24 12.24 11.98 12 135,500 1,630,024 7.1 7.14 7.27 7.35 6.99 7.14 1,328,200 9,484,366 GMA NETWORK MANILA BULLETIN 0.465 0.48 0.48 0.48 0.46 0.47 440,000 208,000 10.5 10.98 10.22 11 10.22 11 1,300 13,364 MLA BRDCASTING GLOBE TELECOM 1,985 1,993 2,026 2,026 1,985 1,985 68,170 135,863,755 PLDT 1,300 1,311 1,320 1,330 1,300 1,300 161,400 210,826,785 0.255 0.26 0.27 0.275 0.235 0.255 2,042,930,000 516,228,260 APOLLO GLOBAL CONVERGE 17.6 17.74 17.76 17.92 17.4 17.74 7,598,900 134,045,044 4.34 4.35 4.66 4.66 4 4.34 2,588,000 11,368,840 DFNN INC 16 16.08 17.42 17.42 14.4 16 324,840,100 5,187,954,982 DITO CME HLDG ISLAND INFO 0.165 0.167 0.174 0.174 0.16 0.165 20,500,000 3,363,660 2.03 2.07 2.15 2.15 2.03 2.03 166,000 340,570 JACKSTONES NOW CORP 2.75 2.78 2.96 2.98 2.62 2.78 13,670,000 38,111,610 0.455 0.46 0.485 0.49 0.425 0.46 58,120,000 26,394,850 TRANSPACIFIC BR 2.6 2.61 2.62 2.62 2.57 2.6 1,053,000 2,738,390 PHILWEB 2GO GROUP 8.26 8.48 8.4 8.48 8.25 8.48 52,100 432,855 14.78 15.84 14.76 14.78 14.76 14.78 600 8,860 ASIAN TERMINALS CHELSEA 4.05 4.09 4.3 4.3 3.9 4.05 4,240,000 17,238,950 CEBU AIR 45.5 45.6 46.4 46.4 45.2 45.5 579,500 26,406,415 121.9 122 120.9 123 120 122 1,474,130 179,439,415 INTL CONTAINER LBC EXPRESS 16.06 16.58 16.06 16.58 16.06 16.58 7,400 121,444 0.98 1.03 0.98 1.03 0.97 1.03 55,000 53,910 LORENZO SHIPPNG 5.36 5.4 5.5 5.52 5.2 5.4 3,031,900 16,268,129 MACROASIA METROALLIANCE A 2.71 2.78 2.79 2.8 2.48 2.71 2,091,000 5,481,940 2.6 3.29 2.58 2.59 2.58 2.59 5,000 12,930 METROALLIANCE B PAL HLDG 6.1 6.2 6.28 6.3 6.1 6.2 66,500 415,061 1.29 1.3 1.33 1.33 1.26 1.3 2,054,000 2,634,460 HARBOR STAR 1.45 1.48 1.45 1.45 1.45 1.45 16,000 23,200 ACESITE HOTEL BOULEVARD HLDG 0.045 0.046 0.045 0.046 0.042 0.045 181,700,000 7,990,500 5.43 5.45 5.81 5.82 5.05 5.43 5,126,400 28,217,654 DISCOVERY WORLD WATERFRONT 0.53 0.54 0.54 0.56 0.53 0.54 12,829,000 6,980,900 CENTRO ESCOLAR 6.72 9.57 6.7 6.7 6.7 6.7 100 670 584 644 584.5 584.5 584 584 80 46,745 FAR EASTERN U IPEOPLE 8.07 8.47 8.07 8.47 8.07 8.47 5,100 41,277 0.385 0.39 0.405 0.405 0.385 0.39 9,680,000 3,786,650 STI HLDG 4.33 4.36 4.36 4.36 4.32 4.33 20,000 86,810 BERJAYA BLOOMBERRY 7.3 7.75 7.5 7.75 7.19 7.75 2,235,000 16,534,505 2.05 2.1 2.15 2.15 2.05 2.05 111,000 228,690 PACIFIC ONLINE LEISURE AND RES 1.75 1.79 1.91 1.98 1.75 1.79 1,892,000 3,524,210 2.1 2.14 2.11 2.11 2.05 2.1 143,000 297,810 MANILA JOCKEY 2.53 2.55 2.56 2.6 2.38 2.53 10,409,000 26,029,990 PH RESORTS GRP PREMIUM LEISURE 0.465 0.47 0.475 0.475 0.46 0.47 8,830,000 4,088,900 6.24 6.5 6.6 6.6 6.24 6.24 4,800 30,460 PHIL RACING ALLHOME 7.86 7.92 8 8 7.82 7.9 1,792,000 14,113,384 METRO RETAIL 1.33 1.34 1.38 1.38 1.34 1.34 3,641,000 4,944,130 35.5 35.75 36.3 36.35 35.5 35.5 2,449,500 87,543,925 PUREGOLD ROBINSONS RTL 53.95 54 55 55 53.9 54 491,530 26,668,057 98.1 100 101.5 101.5 98 98.1 145,200 14,387,340.50 PHIL SEVEN CORP 1.33 1.35 1.36 1.36 1.3 1.35 3,800,000 5,016,030 SSI GROUP WILCON DEPOT 17.92 18 17.9 18 17.9 18 1,044,500 18,767,722 0.42 0.43 0.42 0.43 0.4 0.42 4,510,000 1,850,900 APC GROUP EASYCALL 6.75 6.95 7 7 6.69 6.95 124,100 854,676 425 440 432 440 410.2 440 2,010 868,620 GOLDEN MV 5.05 5.15 5.15 5.15 5.15 5.15 3,100 15,965 IPM HLDG PAXYS 2.21 2.37 2.22 2.22 2.21 2.21 66,000 146,110 2.98 2.99 2.93 3.09 2.66 2.98 262,534,000 753,860,050 PRMIERE HORIZON SBS PHIL CORP 4.32 4.33 4.45 4.5 4.32 4.33 39,000 169,860

-87,672,210 -95,949,085 -4,395,120 30,774,066 1,787,870 -6,757,266 -215,490 -242,660 959,350 59,800 -25,606 741,170 5,093,010 22,366,613 -32,120.00 -930 -634,193 14,287 -93,750 64,500.00 4,200 1,015,000 -2,118,800 -3,605,386 6,270 -4,813,060 -3,200 -4,549,549 -832,240.00 -41,506,825 -1,900,609.50 -1,244,449 -174,560 5,250,252.00 479,100 280,150 -

MINING & OIL ATOK 7 7.18 7.66 7.66 7 7 2,869,900 20,332,737 1,868,868 APEX MINING 1.56 1.57 1.61 1.61 1.55 1.56 4,719,000 7,391,170 -937,740 0.0034 0.0035 0.0038 0.0038 0.0032 0.0034 29,679,000,000 104,526,200 10,607,900 ABRA MINING ATLAS MINING 6.8 6.85 6.86 6.96 6.68 6.8 1,535,200 10,450,913 -2,309,079 BENGUET A 2.81 2.83 2.8 2.83 2.8 2.81 44,000 123,510 2.78 2.8 2.81 2.81 2.79 2.79 120,000 335,500 BENGUET B COAL ASIA HLDG 0.34 0.35 0.34 0.35 0.305 0.35 5,140,000 1,664,800 2.69 2.82 2.7 2.82 2.69 2.82 18,000 49,310 27,000 CENTURY PEAK 12.3 12.58 12.34 13 11.28 12.58 365,200 4,425,686 -79,068 DIZON MINES FERRONICKEL 2.97 2.98 3.04 3.05 2.73 2.98 33,824,000 98,022,740 6,306,520 0.475 0.485 0.53 0.53 0.43 0.49 35,312,000 17,019,480 435,000 GEOGRACE LEPANTO A 0.153 0.154 0.157 0.158 0.15 0.153 40,030,000 6,119,190 0.154 0.155 0.16 0.16 0.154 0.154 2,090,000 324,360 LEPANTO B 0.01 0.011 0.01 0.011 0.0099 0.01 136,400,000 1,365,010 MANILA MINING A MANILA MINING B 0.01 0.011 0.01 0.01 0.01 0.01 16,600,000 166,000 -2,000 1.66 1.67 1.73 1.75 1.57 1.67 2,708,000 4,461,060 -51,850 MARCVENTURES NIHAO 2.71 2.77 3 3 2.71 2.72 577,000 1,588,740 -5,430 NICKEL ASIA 5.9 5.93 6.25 6.25 5.75 5.9 19,671,600 116,779,508 -4,532,168 0.45 0.47 0.47 0.47 0.415 0.45 1,840,000 799,450 -4,300 OMICO CORP ORNTL PENINSULA 1.08 1.12 1.15 1.17 1.05 1.12 7,135,000 7,806,250 -65,750 4.9 4.92 5.08 5.08 4.76 4.9 1,825,500 8,873,883 -9,515 PX MINING 12.52 12.84 12.56 12.84 12.38 12.84 1,678,000 21,140,782 -8,305,852 SEMIRARA MINING UNITED PARAGON 0.0095 0.0096 0.01 0.01 0.0088 0.0096 698,100,000 6,520,860 20 20.35 19.5 20 18.6 20 811,300 15,561,070 -1,302,000 ACE ENEXOR ORNTL PETROL A 0.012 0.013 0.013 0.013 0.012 0.012 439,800,000 5,296,900 0.013 0.014 0.013 0.014 0.013 0.014 63,200,000 837,000 -2,600 ORNTL PETROL B 0.013 0.014 0.013 0.014 0.013 0.014 782,600,000 10,188,600 343,200 PHILODRILL PXP ENERGY 9.06 9.08 9.24 9.3 9.05 9.06 819,000 7,475,596 -1,707,530 PREFFERED HOUSE PREF B 100 101 100 101 100 101 22,010 2,211,010 101 101.4 101.5 101.5 101 101 2,100 212,205 HOUSE PREF A ALCO PREF C 110 118 110 110 110 110 180 19,800 100.2 102 100.5 100.5 100 100 20,000 2,000,707 CPG PREF A DD PREF 101.1 102 101.5 101.5 101.1 101.1 200 20,224 106.3 106.5 106.5 106.5 106.3 106.5 3,550 377,805 FGEN PREF G 504 508 504 504 504 504 2,000 1,008,000 GLO PREF P GTCAP PREF B 1,029 1,030 1,030 1,030 1,029 1,029 510 525,290 100.2 100.4 100.2 100.4 100 100.2 20,450 2,049,105 MWIDE PREF 100.7 101.3 100.7 100.7 100.7 100.7 20,100 2,024,070 MWIDE PREF 2B PNX PREF 3B 102.3 104 102.3 104 102.3 104 220 22,829 -2,046 1,000 1,004 1,000 1,000 1,000 1,000 720 720,000 PNX PREF 4 PCOR PREF 3A 1,085 1,100 1,100 1,100 1,085 1,085 60 65,250 1,125 1,140 1,140 1,140 1,124 1,124 1,790 2,039,480 PCOR PREF 3B 1.63 1.78 1.64 1.64 1.63 1.63 10,000 16,380 -1,640 SFI PREF SMC PREF 2C 79.6 80 80 80 79 80 3,880 306,933 -281,333 76.1 77.5 76.1 76.1 76.1 76.1 130 9,893 SMC PREF 2E SMC PREF 2F 77.8 79.3 77.8 79.3 77.8 79.3 900,280 71,391,934 76.1 76.8 76.8 76.8 76.8 76.8 395,000 30,336,000 SMC PREF 2G 77 78.9 77 77 77 77 2,000 154,000 SMC PREF 2H SMC PREF 2I 77.5 78.5 77.4 77.4 77.4 77.4 30 2,322 76.5 76.8 76.8 76.8 76.3 76.5 6,460 493,938 SMC PREF 2K PHIL. DEPOSITARY RECEIPTS GMA HLDG PDR 6.85 6.93 6.97 6.97 6.8 6.85 218,400 1,514,154 340,320 WARRANTS LR WARRANT 1.03 1.04 1.1 1.12 1 1.03 3,902,000 4,089,640 -145,130 SMALL & MEDIUM ENTERPRISES ALTUS PROP 18.8 19 19.9 20 18 19 561,500 10,572,644 -166,830 2.8 2.87 2.95 2.95 2.6 2.8 5,876,000 16,320,830 109,750 ITALPINAS KEPWEALTH 5.8 5.9 5.9 5.9 5.8 5.8 24,800 144,610 2.39 2.76 2.5 2.77 2.5 2.77 116,000 302,010 MAKATI FINANCE MERRYMART 6.72 6.73 7 7.03 6.36 6.72 39,729,500 264,169,524 -3,789,048 EXHANGE TRADE FUNDS FIRST METRO ETF 102.1 103 103 103 102.1 102.1 35,040 3,593,579 116,556

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Ayala Land to finance 2021 capex via loans, bond issue By VG Cabuag

@villygc

roperty developer Ayala Land Inc. said it is set to borrow between P8 billion and P10 billion this year for its capital expenditures including the completion of projects that it had already started. The company said it is looking at borrowing more to refinance its debt and replace it with cheaper ones. Augusto Cesar D. Bengzon, the company’s CFO, said the company will borrow an additional P30 billion to refinance its debt, as rates have come down further since the company tapped the capital market since last year. “Rates have come down further and we'd like to refinance our debt. As you know we really don't have high interest rate debt because our credit spreads our quite low but we see still opportunity because rates have come

down. So we will be actively refinancing our capital market debts, our bond, as well as our bilaterals [bank loans]. There's quite an activity for 2021 for our treasury team,” Bengzon said. All of its fund raising this year will be peso denominated. “What we are doing is that we are actively pre-terminating high cost debt and will going to replace it with lower cost debt as interest rates have come down significantly and we'd like to take advantage of that opportunities that it present,” he said. Bengzon said the company will soon launch its 4-year bond from

which it hopes to raise as much as P6.25 billion. The country's second largest property developer will also refresh its P50 billion in shelf registration with the Securities and Exchange Commission. The company said it will spend some P88 billion the year, and launch projects worth some P100 billion. This is higher than last year's P63.7 billion in revised capital expenditures, mainly for the completion of residential and commercial leasing assets, with a portion spent on land acquisition and development of estates. Of this year's spending, some P38.8 billion will be for Avida Land, P37 billion for Alveo Land, P17.2 billion for Amaia Land, P12 billion for Ayala Land Premiere and P0.3 million for Bellavita. Some 62 percent of these projects are for high-rise buildings, 37 percent are for horizontal and 1 percent for the leisure. About half of its projects are still located in Metro Manila and the rest are scattered in several parts of the country. The company is expecting a “sharp recovery” this year, but it

admitted that it will still take them two to three years to reach its 2019 figures. Ayala Land said most of the spending this year will be earmarked to finish its ongoing construction as it will delay some of the projects that it has previously set to launch this year. The company is still looking to replace some 4 percent of its office space, or about 40,000 square meters, that will be left vacant by the Chinese online gaming operators, mainly located in its Circuit Makati project. For its shopping malls, the company provided some P6.1 billion in rent condonation last year, which it may continue this year depending on the lockdown situation in country. It is now offering a variable rent discount of 5 percent for food stalls and 3 percent for non-food and as much as 50 percent discount for those that have fixed rent in its malls. The company's income fell 74 percent last year to P8.72 billion from the previous year's P33.18 billion, its first drop in earnings since the global financial crisis.

FDFC, Xendit offer cardless installment solution By Tyrone Jasper C. Piad @TyronePiad

illEase operator First Digital Finance Corp. (FDFC) is teaming up with an Indonesiabased financial technology (fintech) player Xendit to offer “pay later” solution via cardless installments. The collaboration allows Xendit's merchants to include BillEase as a payment option for consumers, who are usually unbanked or uncarded. "By offering BillEase at checkout, merchants can give their customers the option to split the cost of their purchases into installments either monthly or bi-weekly with no hidden fees," FDFC said. The customers may pay for their purchases online via installments over a period of 3, 6, 9 or 12 months with monthly interest rates ranging from 0 percent to 3.49 percent. Amid the digital shift, FDFC CEO and Co-Founder Georg Steiger said consumers are looking for alternative methods to pay online transactions and merchants who can offer such flexible payment options. "We're excited to partner with Xendit to help Filipino merchants grow more by removing unnecessary challenges customers face at checkout, especially for those who are unable to use credit and debit cards," he added.

Yang Yang Zhang, Managing Director of Xendit Philippines, said the firm's partnership with FDFC was necessary given the increasing demand for installment solutions. "At Xendit, we aim to give our merchants the options needed to help their business grow by offering all types of payment methods," the Xendit official said. "That's why we’re excited to bring our PayLater solution to online retailers in the country." Y Combinator-backed fintech firm Xendit enables businesses to accept and send payments across multiple channels, including debit and credit cards, online banking, e-wallets, over-the-counter outlets and online installments. Recently, FDFC said in an interview with the BusinessMirror that it was eyeing to at least double the transactions and credit disbursal for Billease this year, driven by its partner merchants. With this, the fintech firm said that it was focused on scaling up its "buy now, pay later" partnerships. The digital credit app operator teamed up with several e-commerce firms including DragonPay, Shopify, Magento, Prestashop and WooCommerce last year to launch the installment payment scheme. Last month, BillEase partnered with insurance technology startup Maria Health to provide accessible health coverage.

ALE ties up with Alpha-3 to hasten PHL digital shift

RENCH software firm Alcatel-Lucent Enterprise (ALE) has tied up with the newly established Alpha-3 Technologies Inc. in the Philippines to help digitalize remote and underserved areas in the country. The latter is an alliance of private companies, including UCAAS Sdn Bhd (Ulap), Trends & Technologies, and GBU Biz International Holdings Company. Alpha-3 Technologies will utilize each partner's strengths in advanced technologies, business solutions, and other customized services to support government projects. AS the sole technology vendor in the partnership, ALE will take advantage of its capabilities to reach different sectors and build smart city infrastructures. “We are proud to be part of the Alpha-3 alliance and to bring our expertise to the table. Our goal as a group is to help Filipinos adapt to digitalization,” said Kit Andal, country manager for

the Philippines at ALE. According to Andal, their company’s digital-age networking solutions are tailored fit to support this type of digital shift. “Through our system integration and other advanced technology solutions, we hope to strengthen the alliance and enable more projects to come to fruition,” he noted. In addition to the partnership, ALE’s solutions and product offerings are geared to help the Philippines recover from the enduring impacts of Covid-19 pandemic. The multinational is providing reliable network, Wi-Fi and communication solutions, as well as new offerings like managed Wi-Fi and Smart City solutions required by government agencies and enterprises. “The only way forward is to support one another. That is why ALE is developing and delivering sustainable solutions that can positively impact the lives of Filipinos through safe and secured connectivity." Roderick L. Abad

mutual funds

February 24, 2021

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 216.66 -9.32% -9.14% -2.11% -4.65% ATRAM Alpha Opportunity Fund, Inc. -a 1.3071 5.11% -6.47% 3.54% -0.45% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.9846 -10.54% -13.17% -3.76% -4.74% Climbs Share Capital Equity Investment Fund Corp. -a 0.7628 -7.92% -8.31% n.a. -5.11% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6926 -13.85% n.a. n.a. -6.61% First Metro Save and Learn Equity Fund,Inc. -a 4.7118 -6.48% -7.07% -1.19% -4.64% First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.6988 -12.8% -10.37% -6.48% -8.03% MBG Equity Investment Fund, Inc. -a 100.24 4.74% -5.17% n.a. -1.67% PAMI Equity Index Fund, Inc. -a 44.6362 -7.48% -7.28% -0.54% -4.72% Philam Strategic Growth Fund, Inc. -a 466.13 -7.52% -7.22% -1.24% -4.67% Philequity Alpha One Fund, Inc. -a,d,5 1.0528 7.22% n.a. n.a. -4.06% Philequity Dividend Yield Fund, Inc. -a 1.1252 -7.66% -6.59% -0.36% -3.68% Philequity Fund, Inc. -a 33.3237 -6.9% -6.53% 0.3% -4.16% Philequity MSCI Philippine Index Fund, Inc. -a 0.8634 -10.44% n.a. n.a. -5.43% Philequity PSE Index Fund Inc. -a 4.5676 -7.12% -6.78% 0.21% -4.67% Philippine Stock Index Fund Corp. -a 764.19 -6.92% -6.66% 0.13% -4.67% Soldivo Strategic Growth Fund, Inc. -a 0.6898 -10.95% -10.45% -3.72% -4.05% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.4497 -12.1% -8.84% -1.48% -4.8% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8743 -7.22% -6.97% -0.03% -4.73% United Fund, Inc. -a 3.1825 -8.16% -5.89% 0.94% -4.11% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 102.5548 -6.94% -6.45% 0.85% -4.65% Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b $1.3238 32.58% 5.51% 10.84% 10.05% Sun Life Prosperity World Voyager Fund, Inc. -a $1.7723 23.8% 11% n.a. 5.95% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.6567 8.07% -3.24% -0.46% -0.71% ATRAM Philippine Balanced Fund, Inc. -a 2.2097 5.49% -3.18% 0.74% -3.31% First Metro Save and Learn Balanced Fund Inc. -a 2.5395 -0.61% -2.57% -0.26% -3.33% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1916 -10.72% n.a. n.a. -3.52% NCM Mutual Fund of the Phils., Inc. -a 1.9331 0.3% -0.62% 1.63% -1.57% PAMI Horizon Fund, Inc. -a 3.6654 -0.61% -1.73% 0.67% -3.24% Philam Fund, Inc. -a 16.4034 -0.49% -1.79% 0.62% -3.15% Solidaritas Fund, Inc. -a 2.0392 -1.52% -2.89% 0.54% -2.62% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.4695 -6.36% -4.53% -0.53% -2.9% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9847 -0.25% n.a. n.a. -3.71% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.9094 -4.64% n.a. n.a. -4.19% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.8916 -5.88% n.a. n.a. -4.45% Sun Life Prosperity Dynamic Fund, Inc. -a 0.8598 -7.11% -5.21% -1.16% -3.14% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03849 -1.53% 3.09% 1.69% -1.61% PAMI Asia Balanced Fund, Inc. -b $1.1874 15.28% 3.35% 7.07% 3.23% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.717 17.01% 8.32% 9.76% 4.52% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.219 7.71% 4.38% n.a. 1.41% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 371.3 3.33% 3.27% 2.68% 0.06% ATRAM Corporate Bond Fund, Inc. -a 1.9044 -0.24% 0.49% 0.23% 0.22% Cocolife Fixed Income Fund, Inc. -a 3.2175 2.51% 4.27% 4.64% 0.09% Ekklesia Mutual Fund Inc. -a 2.2821 1.77% 2.72% 2.07% -0.61% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4297 2.58% 3.19% 1.91% -0.96% Philam Bond Fund, Inc. -a 4.5817 4.04% 4.82% 2.48% -1.14% Philam Managed Income Fund, Inc. -a,6 1.3192 4.8% 4.35% 2.66% -0.15% Philequity Peso Bond Fund, Inc. -a 3.9663 4.75% 4.34% 2.54% -0.87% Soldivo Bond Fund, Inc. -a 1.0249 5.14% 4.13% 1.98% -1.64% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.19 3.05% 4.64% 3% -0.5% Sun Life Prosperity GS Fund, Inc. -a 1.7405 2.12% 3.9% 2.37% -0.83% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $483.13 2.34% 3.01% 2.66% -0.15% ALFM Euro Bond Fund, Inc. -a Є219.38 -0.87% 1.04% 1.26% 0.09% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2252 0.65% 3.09% 2.14% -4.31% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0261 0.38% 1.85% 1.36% -1.88% PAMI Global Bond Fund, Inc -b $1.0736 -3.28% 0.9% -0.19% -1.75% Philam Dollar Bond Fund, Inc. -a $2.496 1.09% 4.71% 2.81% -1.56% Philequity Dollar Income Fund Inc. -a $0.0625401 2.74% 3.27% 2.32% 0.36% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1456 -3.85% 2.25% 1.49% -2.42% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 130.05 2.82% 3.34% 2.57% 0.18% First Metro Save and Learn Money Market Fund, Inc. -a 1.049 1.68% n.a. n.a. 0.09% Sun Life Prosperity Money Market Fund, Inc. -a 1.2991 2.27% 2.93% 2.6% 0.19% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0541 1.37% 1.78% n.a. 0.16% Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 1.1943 n.a. n.a. n.a. 5.73% 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

EXCLUSIVE

Fintech group seeks easy person-to-govt payments By Tyrone Jasper C. Piad @Tyronepiad

ITH the recent establishment of the payments and currency management sector (PCMS), a financial technology (fintech) group hopes that online payments made to government agencies, such as taxes and monthly contributions, will be centralized immediately via an automated clearing house (ACH). FintechAlliance.ph is expecting the new Bangko Sentral ng Pilipinas (BSP) department to “further expedite implementation of the various payments use cases, including a biller’s ACH, removing the barrier for players to do separate integrations,” its chairman Angelito M. Villanueva told the BusinessMirror. Villanueva explained to the BusinessMirror that, currently, individual fintech players need to establish partnerships with agencies such as the Bureau of Internal Revenue, Social Security System and the Philippine Health Insurance Corp. This explains why not all mobile financial services platforms allow their customers to make payments to such government agencies, he said. Villanueva told the BusinessMirror that the PCMS can “remove that red tape of having individual players having to deal with each government agency just to offer P2G [person-to-government] payments.” Apart from this, Villanueva told the BusinessMirror he hopes for faster implementation of the national ID card system given it is under the mandate of the new BSP sector. “Since the newly-created sector will also oversee the printing of the national ID cards, the Alliance hopes that it would be expedited

and provide timelines as to how and when these cards are issued to Filipinos,” Villanueva told the BusinessMirror. It was last Wednesday when the Central Bank announced the creation of the PCMS that it tasked to “manage the interplay of physical currency and digital money.” BSP Governor Benjamin E. Diokno said the move was aligned with the BSP’s “Digital Payments Transformation” roadmap, which aims to further promote financial inclusion via digital platform use. Digital finance services and inclusive-finance expert Mamerto E. Tangonan, who has over 28 years of relevant experience, was named as deputy governor of the PCMS. The FintechAlliance.ph welcomed the appointment of Tangonan adding he has the support of fintech and digital industry players. “[Tangonan] has been instrumental in the promotion of electronic payments in the Philippines and addressing gaps in the digital payments ecosystem,” Villanueva said. “As he transitions into his new role in the government, he can expect the industry’s active support and dynamic collaboration in ensuring his success.” Tangonan has made contributions in furthering digital payments in the country. These include leading a 6-year USAid-funded program on the e-Peso project and spearheading a team in providing technical assistance to the BSP in the policy formulation and implementation of the National Retail Payments System. Tangonan also served as general manager of PT Smart Telecom, director of Globe Telecom Inc. and first vice president of ING Life Insurance Co. (Phils.) Inc.

Saving in dollars won’t lead to higher returns–think tank

By Cai U. Ordinario

@caiordinario

AVING in dollars will not lead to higher yields in countries like the Philippines, according to Washington-based think tank Peterson Institute for International Economics (PIIE). According to PIIE Research Fellow Madi Sarsenbayev, domestic currency investors in countries that employ inflation targeting enjoyed higher returns than those who saved in greenbacks. According to Sarsenbayev, it was easy for investors to shift their savings to US dollar denominations to avoid the volatility of exchange rates. But this will not always lead to higher yields, especially in countries that employ inflation targeting. “It is, therefore, safe to conclude that floating exchange rates under an inflation targeting regime have not made investors in national currencies worse off compared to those who chose to save solely in US dollars,” Sarsenbayev said. Inflation targeting, Sarsenbayev

said, is when “central banks use interest rates to stabilize inflation around a publicly announced goal—an inflation target.” The Philippines, to note, is one of 41 countries that adopted a technique called inflation targeting to control the general rise in the level of prices. If inflation is too high, Sarsenbayev said central banks would tighten monetary conditions by raising interest rates; but if it is too low, central banks would lower interest rates. “Previously, many of these countries targeted a fixed exchange rate. Although a fixed exchange rate provides some restraint on inflation, it limits a central bank’s capacity to react to economic shocks that

affect employment and inflation. Plus, fixed exchange rates are often subject to speculative attacks,” he explained. Based on data, Sarsenbayev said the Philippines adopted inflation targeting in 2002 and experienced an average inflation rate of 3.98 percent. The average compounded local interest rate is pegged at 3.92 percent. Sarsenbayev said the average local interest rate was based on domestic short-term Treasury bills starting from the first year immediately following adoption of the inflation targeting framework until the end of 2020. This is then converted into US dollars. In the Philippines, this conversion leads to a local interest rate of 3.92 percent. The difference between this US dollar local interest rate and the US interest rate will determine the gain or loss of investors. The US interest rate is the average rate of return earned on US Treasury bills for the same period and is pegged at 1.23 percent for the Philippines. When the difference between the US dollar local interest rate and the US interest rate is obtained, the result is a gain of 2.69 percent on average for the Philippines. This indicated that local currency investors earned

@joveemarie

AWMAKERS on Thursday slammed the “oppressive” increase in interbank automated teller machine (ATM) withdrawal fees that the country’s 58 million cardholders are set to shoulder starting April 7; even noting that indigents, senior citizens and disability pensioners will bear the brunt of the increase. Makati City Rep. Luis Jose Angel N. Campos Jr. said while indigents, senior citizens, disability pensioners who are receiving cash transfer from the government through the Land Bank of the Philippines (Landbank) can always withdraw their money free of charge from any Landbank ATM, many of them actually end up using the nearest machine of another bank, mostly to save on transportation costs. “Thus, they will be forced to cough up the P18 fee per withdrawal transaction,” said Campos, a member of the House committee on banks and financial intermediaries. Campos said Landbank’s 2,188 ATM terminals comprise only 10 percent of the national network of cash dispensers. Landbank’s cardholders include the 4.4 million families under the Pantawid Pamilyang Pilipino Program and the bulk of the 3.1 million combined pensioners of the Social Security System and the Government Service Insurance System. The 1.8 million national and local government employees are also Landbank cardholders. Campos earlier urged the Bangko Sentral ng Pilipinas to defer the increase in withdrawal fees. “It is

a bad time for banks to be nickeland-diming pandemic-weary Filipinos amid the massive job losses and soaring food prices,” he said. For his part, Rep. Michael T. Defensor of Anakalusugan said banks should use some of their excess capital to enlarge their ATM networks, instead of punishing cardholders with higher user fees to fund their expansion. The banks now have plenty of surplus capital amid the decline in lending due to the Covid-19 pandemic, Defensor said. “In fact, one bank is so awash with capital, it is paying out a record P18 billion in special dividends to shareholders next month, even after setting aside P41 billion in reserves against potential bad loans,” Defensor said without naming the bank. “They clearly have the money to build up their ATM networks without having to add to the burden of cardholders who are already saddled with miscellaneous bank charges,” Defensor said. Banks are poised to simultaneously jack up their interbank ATM withdrawal fees—mostly to P18 per transaction—on April 7. Most banks are currently charging only P10 to P11 per transaction, with no more than five exacting between P12 to P15. Financial intermediaries need the extra fee income to grow the national ATM network, which currently has only 21,762 terminals, according to the Bankers Association of the Philippines (BAP). “But in reality, users will have little or no choice because, based on our survey, at least 10 of the biggest banks that dominate the national ATM network are already set to evenly impose the P18 fee,” Defensor said.

more than those who invested in the US dollar. “Savers in local currencies did better not only in terms of US dollars but also in terms of their overall purchasing power at home, as witnessed by average annual domestic currency interest rates that have been higher than average annual consumer price inflation. The only exceptions are Japan and the Philippines, where annual inflation slightly surpassed returns made on government securities,” Sarsenbayev said. For other countries that use inflation targeting—Brazil, Iceland, Russia, Uganda and Ukraine—local investors were rewarded with over 5-percent higher yields than US dollar savers. Investors in Armenia, Kazakhstan, Moldova and Uruguay saw their fortunes rise more than 4-percent faster than similar investments in US dollars. Sarsenbayev said that Canada, Chile, the Dominican Republic, Georgia, Mexico, Sweden and the United Kingdom witnessed average domestic interest rates that were less than 1-percent higher than US dollar rates. “Investors in all other inflationtargeting economies realized a higher return, despite fluctuations in the value of their national currencies vis-à-vis the US dollar,” he added.

Stand out with a VIP

ATM withdrawal-fee hike ‘oppressive’–lawmakers By Jovee Marie N. dela Cruz

Friday, February 26, 2021 B3

ENHANCING LINKS Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno (left) and Japanese Am-

bassador to Manila Koshikawa Kazuhiko discussed economic cooperation initiatives during the diplomat’s recent courtesy call at the BSP head office in Manila. Their meeting tackled bilateral agreements between the BSP and the Bank of Japan, the establishment of a Philippine Peso-Japanese Yen Direct Settlement Framework and the development of a credit risk database for small and medium enterprises. Diokno said he looks forward to further enhancing economic relations between Manila and Tokyo. Photo courtesy Bangko Sentral ng Pilipinas

Nature bonds next big thing for rising markets?

MERGING-market nations are looking at issuing the first nature-linked bonds as part of talks involving the World Bank and major sovereign creditors to make their debt more sustainable. The proposals aim to link new debt to targets for biodiversity and carbon emissions, according to Simon Zadek, chairman of the Finance for Biodiversity Initiative, which published the plans last Thursday. Pakistan could be the first out of the blocks to issue such nature bonds. The discussions on greening sovereign debt, involving the US, China, the UK and Germany, come as mitigating climate change and spending to recover from the pandemic have climbed to the top of the agenda for governments. Among the ideas are plans for an advisory hub to match borrowers with creditors, at a time of surging investor demand for environmental assets. “This year provides an historic opportunity to harvest a double dividend by aligning sovereign debt relief with nature and climate outcomes,” said Zadek, who previously led a green finance task force for the United Nations. “The only reason we need this platform is because investment banks don’t know much about this subject.” The group’s proposals would tie the cost of debt repayments to quantified biodiversity and emissions-reductions targets, meaning borrowers would have to pay less interest if they hit those. Countries might also be able to pay back debt using carbon credits. Pakistan is set to use this system to issue a so-called

nature-performance bond of up $1 billion this year, according to Malik Amin Aslam, a climate-change adviser to Prime Minister Imran Khan. His government has been a heavy user of coal for power generation, yet aims to use greener energy and plant almost 10 billion trees by 2023. “We could actually tie our sovereign debt retirement to our nature-based performance,” Aslam said in an interview. “It’s a win-win for us, because it’s helping us do what we wanted to do but at the same time creating a novel instrument to finance that whole process.” There’s already been a rush by governments around the world to issue record levels of green bonds, which mainly focus on funding clean energy projects. Poland issued the first sovereign green notes in 2016, saying it would use some of the proceeds for its natural parks. “There’s trillions out there in pension funds and they’re begging for new products,” said Kevin P. Gallagher, professor of global development policy at Boston University, who co-authored a January paper on green-debt relief. “The key thing is someone has to be a first mover.” The new proposals aim to integrate nature and climate into sovereign debt more systemically, including with credit-rating agencies and investment banks that advise governments on their debt. The Finance for Biodiversity Initiative has also talked to lenders and asset managers to explore the best designs for these nature-performance bonds. Bloomberg News

recently attended a webinar on “2021 Plans and Possibilities” by Kirryn Zerna and, although it was not necessarily foAssociation World cused on associations, I Octavio Peralta was pleasantly surprised to have something to share with associations. Kirryn, who’s from Australia, is a keynote speaker, masterclass presenter and author. She was highly engaging and her storytelling is impeccable. The takeaway I got and tweaked to enable associations to stand out and be more relevant to their members is her “VIP framework,” which I expound on here: V: Value. The key question to ask is, “What value can an association offer to its members during this pandemic?” Indeed, Covid-19 has created a shift in what members value. Some of the ideas I got, which can be applied to members, are to: (a) share information via your website, publications and social media outlets; (b) host a webinar on a topic that resonates with them; (c) give them support, e.g., in advancing an advocacy or finding solutions to their woes; and, (d) provide a “gin-to-sanitizer” innovation (she referred to the story of a gin manufacturer which used its existing facilities as an opportunity to make sanitizers). I: Identity. The main point here is to know what your association is and its brand identity. Perception and credibility are important at this time. What will people out there find out when they look for you on your website? In your social profiles? When they Google you? Kirryn was emphatic when she said, “products are made in the factory but brands are created in the mind.” In my January 17, 2018, column, “Is Branding for Associations?” I wrote that branding, among other things, is about storytelling. It is also a process that should be nurtured. So how does an association start to brand itself? Some ideas are: (a) discover who you really are; (b) answer the question, “What is the essence of who you are?”; (c) focus on relationships; and, (d) be consistent. P: Purpose. This is the very essence of an organization. Kirryn suggested “to move with purpose.” In my column of May 3, 2018, titled “The Power of Why,” I posited that purpose has a deeper meaning and impact as it strikes at the very core of an association and answers these basic questions: “Why do you do what you do?,” “Why do you exist?” and “Why do you serve your cause?” Members and leaders of associations must know by heart their purpose for strategy and direction. If you are not clear about your purpose, then you will not know what to do and where to go. This is as basic as it can get. I hope the “VIP model” that Kirryn shared and which I have adapted to associations provide you with ideas on how to differentiate your association in this crowded and digitalized marketplace where associations and non-associations providing similar services meet and compete. While you may consider this VIP template to be basic, it makes a good tool to ponder upon.

The column contributor, Octavio ‘Bobby’ Peralta, is concurrently the secretary-general of the Association of Development Financing Institutions in Asia and the Pacific, Founder & CEO of the Philippine Council of Associations and Association Executives and President of the Asia-Pacific Federation of Association Organizations. The purpose of PCAAE—the “association of associations”—is to advance the association management profession and to make associations well-governed and sustainable. PCAAE enjoys the support of Adfiap, the Tourism Promotions Board, and the Philippine International Convention Center. E-mail: obp@adfiap.org

Relationships

Friday, February 26, 2021 • Editor: Gerard S. Ramos

BusinessMirror

www.businessmirror.com.ph

Today’s Horoscope By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Corinne Bailey Rae, 42; Erykah Badu, 50; Mark Dacascos, 57; Michael Bolton, 68. Happy Birthday: Update your image, and be cognizant of what’s trending this year. Keeping up will help you forge into the future with confidence. There is a chance to bring about positive changes to your life personally, professionally and financially if you are progressive and eager to take on any challenge you meet along the way. Romance is featured. Your numbers are 8, 12, 20, 27, 33, 38, 44.

❶ ❶

Boracay Island, Aklan, continues to be the family’s favorite vacation happy place. PHOTOS: STELLA

❷

TAURUS (April 20-May 20): Take better care of your health, well-being and relationships with people who can influence your future. Uncertainty will loom if you are indecisive or you let your emotions override practicality. Stubbornness will stand in your way. HH

I dream of travel

ARNALDO

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A glimpse of Mount Hibok-Hibok on the boat trip from White Island in Camiguin.

ITH the promise of Covid-19 vaccines, how exciting it is to dream of traveling again. The family has finally started to discuss taking that long-delayed vacation to Boracay Island, perhaps toward the end of the year, when—fingers crossed—everyone is sure to have the life-saving jab. The family has always loved the beach, white sand or otherwise. We were practically reared by the beach every summer, as we visited our Papa’s home province of Capiz, and the one-month break would always find us swimming in the salty waters of the baybay and raking the sand for cagaycay. And now that we are much older, we continue to enjoy soaking up the sun’s rays (our skin now slathered with lotions to protect us against its more harmful UV), breathe in that pleasant briny smell in the air, relax with the cool breeze in the evening, and savor the fresh seafood accompanied by strong libations to fill up our hungry tummies, in Boracay. I am guessing that for now, many of us will still be sticking close to home, or will just travel to domestic

MARIAN RIVERADANTES is now the celebrity endorser of WalterMart Supermarket.

ARIES (March 21-April 19): Pull in your allies to ensure that you get the support you require to reach your goal. Expect to face opposition if you want to bring about change. Spend quality time with someone you love, and you’ll resolve pending or problematic issues. HHHHH

GEMINI (May 21-June 20): Temptation will lead to excessive behavior. Focus on opportunities that will help you get ahead and maintain a comfortable lifestyle. Align yourself with people who have your best interest at heart. Poor judgment will be your downfall. HHHH

destinations, instead of taking a 14-hour trip to, say, Prague or New York. Even if I get vaccinated, I’d still be wary of breathing in regurgitated or recirculated air, Hepa-filtered or otherwise, aboard a long-haul aircraft. So here are my other favorite, must-visit local destinations: n ILOCOS SUR. There is nothing more breathtaking than taking a walk along the cobbled streets that romance has preserved. Calle Crisologo in Vigan has long been a center of commerce in this province north of Manila. But its Filipino-Chinese homes and ground-floor retail shops continue to thrive because of the romances between Japanese soldiers and the local women in World War II. As the stories go, even when ordered by their superiors, the soldiers refused to burn down Vigan as they already had families there. n INTRAMUROS. The incredible depth of history the Walled City holds makes it a major attraction for history buffs like myself. Fort Santiago has the Jose Rizal shrine, a replica of the late hero’s home which houses a number of memorabilia. There are also paintings and religious art at the San Agustin Church Museum, while Casa Manila speaks to the traditional way of life of Filipinos during the Spanish period. (Visit Intramuros’s Facebook page for details on visitor requirements.) n LAGUNA. Stop off at Casa San Pablo, a bed-andbreakfast with a rustic charm, quirky guest rooms, and delicious cuisine from the freshest of ingredients. Travel onward to visit Ugu Bigyan’s pottery studio for

Continued on B5

CANCER (June 21-July 22): Use your imagination. Structure your day to encourage success, peace of mind and happiness. Learn from the experience you have, and protect meaningful relationships. A joint venture will lead to a long-term commitment. Romance is in the stars. HHHH

LEO (July 23-Aug. 22): Get your facts straight before you indulge in rhetoric that can taint your reputation. Refuse to let anyone push you around or into something that isn’t a physically or financially healthy option. HHH

VIRGO (Aug. 23-Sept. 22): You’ve got control, so stop wasting time. Make a promise, do your thing, shoot for the stars and follow through with your plans. Refuse to let someone’s uncertainty stand between you and what you are trying to accomplish. Romance is featured. HHH

LIBRA (Sept. 23-Oct. 22): Tidy up loose ends before someone steps in and takes over. Don’t leave yourself open for criticism or complaints. Concentrate on stabilizing your positions and relationships with loved ones. HHH

SCORPIO (Oct. 23-Nov. 21): Stop wasting time. Look around you, size up your situation and make a dent in the clutter. It’s time to find peace of mind and to set goals that will give you the leverage to get on with your life. HHHH

The tarsier of Bohol is the smallest primate in the world.

What keeps Marian in love everyday? AS a hands-on Mom, Marian Rivera-Dante wants the best for her family, especially her two kids Zia and Ziggy. Like all moms, she found herself challenged by the uncertainties of the pandemic. That’s why it was important for her to be able to shop at a place that is easy to access considering the limited movements we can do due to quarantine period. With her family’s well-being as a priority, she also wanted to make sure that their meals were prepared with fresh items. And, of course, she wanted to be able to shop more without breaking the bank. All of these she finds under one roof—in WalterMart Supermarket. “Talagang napaka-easy mamili sa WalterMart—mapa-online or instore, ang daming reasons para ma-in love ka!” says the 36-year old mom. This year, WalterMart continues to bring that signature service from the heart through its Love Everyday campaign, where shoppers are guaranteed everyday freshness, choices

and savings. As an advocate of farm-to-store and proudly local produce, WalterMart guarantees “freshness everyday” with its wide array of fresh and perishable goods that are delivered to store, and product displays are regularly checked on a daily basis. This is also true for online orders as they are picked on the same day and delivered within one hour from the time the order is placed. Likewise, with more than 23,000 competitively priced items, the brand sees to it that it provides consumers with a wide range of choices from pantry and breakfast essentials, to baby essentials, health and beauty products and even foodto-go for those who are time-strapped. More than that, getting your money’s worth and more is what WalterMart promises to provide its customers, with bundle deals and promos almost every day, and same-asstore prices for its online delivery platform. More information is available at www.waltermart.com.

SAGITTARIUS (Nov. 22-Dec. 21): Spend less time dealing with manipulative people and more time picking up information and skills that can help you get ahead. It’s time to do your own thing and to dismiss anyone trying to control your life. HHHHH

CAPRICORN (Dec. 22-Jan. 19): An exciting prospect will grab your attention. A change in the way you handle your affairs will lead to a better lifestyle. Embrace the future with optimism, and you’ll gain peace of mind. Personal gain, self-improvement and romance are favored. HHH

AQUARIUS (Jan. 20-Feb. 18): Take the high road. Refuse to let what others do bother you. Set your sights on what’s essential and on those who mean the most to you. Ask questions and adapt to change, and you’ll ease your mind. HHH

PISCES (Feb. 19-March 20): Don’t be afraid; show your feelings and let others know what you want. Taking the high road and being honest with yourself and others will help you come to terms with your life and how best to move forward. Romance is encouraged. HHH Birthday Baby: You are loving, demonstrative and unique. You are flexible and inventive.

‘don’t start with me’ by jessie bullock and ross trudeau The Universal Crossword/Edited by David Steinberg

ACROSS 1 Evaluate, as ore 6 Mayim Bialik’s Golden State sch. 10 Make an impression? 14 Scrub in the tub 15 Pinot ___ 16 Caramelly Hershey’s candy 17 Drink with turquoise food coloring mixed in? 19 Word after “scrap” or “steam” 20 Strong desire 21 Feel crummy 22 ___ Nicole Brown of Community 24 They can be soaked in milk overnight 26 Salmon eggs 27 Stereotypical Canadian interjections 28 Get a scratch on one’s armored glove? 33 Like a dark room 34 Soccer star Messi 35 Cowboy’s neckwear 36 Rapid eyelid movement 38 Food regimen 41 Out of view 43 Suggests, with “at” 44 Speeding by an Encore or Enclave?

8 Queen of the hill, say? 4 49 Summer zodiac sign 50 One of three in a water molecule 51 Get bored with 53 Undergarment that often has an underwire 54 Tab for an acid trip 57 Big-screen movie format 58 “That makes sense to me,” and a hint to 17-, 28- and 44-Across 62 Statistician Silver 63 Fork prong 64 Initial TV episode 65 Full-bodied beers 66 Champagne glass part 67 Itty-bitty DOWN 1 “Dear” advice-giver 2 Real-estate deal 3 Flabbergast 4 Yellowfin tuna 5 “Without a doubt!” 6 Foolhardy 7 Notebook’s spine, perhaps 8 Architect Maya 9 “Is anything wrong?”

0 The “E” in HOMES 1 11 Navel-shaped pasta 12 Dress 13 Unlikely to lie 18 Owns, biblically 23 Kind of diagram with overlaps 24 They may be caramelized 25 Letters in a major cellular carrier’s URL 26 “Don’t ___ on my parade!” 28 Barbecue spice mix 29 Game with Skip cards 30 Draw pictures for 31 Sparkle 32 Monotony 36 Perks like health care 37 Brick produced with 0.002 mm accuracy 39 And so on, for short 40 Scolding sound 42 Grain storage spot 43 McMillions channel 44 Green film on the Statue of Liberty 45 Koala or bear 46 Apollo Theater’s New York neighborhood

7 And others, for short 4 52 Partners before “the one” 53 Skeleton part 54 Kid-lit crocodile 55 Before long 56 Voting is a civic one 59 ___ for a king 60 Choose 61 Michelle of LPGA fame Solution to Tuesday’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

Editor: Gerard S. Ramos

• Friday, February 26, 2021

New year, new platform MARY JAY

William says hospitalized grandfather Prince Philip is ‘OK’ LONDON—Prince William said on Monday that his grandfather, Prince Philip, is “OK” as the 99-year-old royal consort remains in a London hospital for rest and observation. William was asked about Philip when he visited a coronavirus vaccination center in eastern England. “Yes, he’s OK, they’re keeping an eye on him,” William said, and gave a wink. Philip was admitted to the private King Edward VII’s Hospital in London on Tuesday after falling ill. Buckingham Palace said the husband of Queen Elizabeth II was expected to remain in the hospital into this week for a period of “observation and rest.” Philip’s illness is not believed to be related to Covid-19. Both he and the queen, 94, received a first dose of a vaccine against the coronavirus in early January. Philip, who retired from public duties in 2017, rarely appears in public. During England’s current coronavirus lockdown, Philip, also known as the Duke of Edinburgh, has been staying at Windsor Castle, west of London, with the queen. Philip married the then-Princess Elizabeth in 1947 and is the longest-serving royal consort in British history. He and the queen have four children, eight grandchildren and nine great-grandchildren. AP

I dream of travel

ary Jay of ABS-CBN’s newly launched MOR Entertainment is a lovely lady. She is also a bubbly young woman who always engages in positive conversations in Good Time, ’To!, a daily talk show she hosts with Ateng Jeri B, Bong Bastic and Macky Kho. Besides discussing the news, daily trends in lifestyle and showbiz, they even conduct fun games and play feel good music. But in the press launch to announce their return via MOR Entertainment (MOR was the FM station of ABS-CBN before it was shut down), she turned emotional. She relayed how she felt sad that her colleagues were let go and shared her fears on this new platform she is still adjusting to. You see, while Mary Jay and several MOR on-air talents are back, this time they do their schtick via digital livestream on Facebook and Kumu. It’s a far cry from their radio work, but Mary Jay and the rest of the MOR gang are equally excited for this new venture. “We really work hard to give what our audiences want. May takot kasi now we’re seen all over the world, so ang dami mo kailangan isipin how to engage your viewers. Nahirapan ako mag-Tagalog minsan kasi Bisaya ako. It’s a continuous challenge pero we’re happy that we’re back,” she said. Besides Good Time ’To!, other shows on MOR Entertainment are Bida Ka, KaMORkada, where the funniest TikTok videos submitted by viewers will be shown during the program. Kapamilya talents will also shine in Concert Natin ’To, which features performances of Kapamilya stars from various ABS-CBN programs. Meanwhile, fan-favorite Dear MOR continues to deliver true stories of love, joy, and loneliness with a fresh duo to love—Popoy and Betina Briones —who will narrate the letters sent by “kaMORkadas” and dispense insightful advice and fun comments while interacting with viewers. Other weekday offerings to catch live on MOR Entertainment’s Facebook and Kumu is Kokoy’s oneman comedy show KumuKokoy at 10 am; Macky Kho’s hangout/talent showcase program MORkadahan at 2 pm; and Daddy Sarge’s alter-ego Medem’s fun take on public and private issues discussion Lagot Ka Kay Medem! at 4 pm. This is followed by Onse’s feel-good program for the masses 143 F\for Life at 5 pm; nonstop music

Continued from B4 a glimpse of the master’s earthen creations. Then set off to Liliw to see how native slippers are made, and purchase sturdy casual footwear at bargain prices. n ILOILO/NEGROS OCCIDENTAL. For the food alone, these two provinces are my best bets. When in Iloilo, hang out at Madge’s Cafe with its homegrown brews and pastries in the La Paz Public Market, after a bowl of steaming batchoy at Deco’s. For lunch or dinner, escape to a generous yet inexpensive meal of oysters, shrimps and more at Breakthrough. In Negros, a visit to Silay for the lumpiang ubod (Emma Lacson) and ensaimada (El Ideal) are also musts, in between tours of their heritage houses, along with a side trip to see the Church of the Angry Christ in Victorias City. n BOHOL. This province boasts of the most number of Spanish-era heritage churches, which have been rebuilt and fortified since that fateful earthquake in October 2013. Of course, one shouldn’t miss the Chocolate Hills especially during summer when the grass is all toasted. A river cruise along Loboc River comes with a hearty lunch and musical performers. After alighting from the boat, check out the tarsiers in one of the private sanctuaries. Kids will love these tiny furry creatures. n CAMIGUIN. I’ve never seen white sand a powdery cream, and waters as clear as Boracay’s except in White Island. There are no shacks nor plantation to protect against the sun so it’s best to go early morning or late afternoon. Camiguin also hosts a number of well-preserved ancestral homes, some of which have been turned into restaurants. Life and property surround the still-active Mount Hibok-Hibok, which helps nourish the province’s farms and feed its clean spring pools. On my wishlist, as I’ve never been to these destinations before, are Siargao, with its myriad or islands and beaches in which to swim around; Caramoan Islands, the site of the reality show Survivor, with white sand beaches and limestone forest, and rich marine life; and Siquijor, with its hidden beaches, waterfalls and caves. With our country’s more than 7,600 islands, it won’t be that difficult to find amazing destinations we can enjoy. I’m so looking forward to my next travel adventure. n

showcase MOR Playlist at 7 pm; and, finally, Chico’s interactive romance-themed advice-giving show SLR at 9 pm. The entire MOR entertainment family— composed of Ateng Jeri B, Betina Briones, Bong Bastic, Chico, Chinaheart, Daddy Sarge, David Bang, Erick D., Jacky G, Kisses, Kokoy, Grasya Pantasya, Macky Kho, Mary Jay, Master James Spider, Nicki Morena, Onse, Popoy, and Tito Son—are excited to bring more fun and laughter to viewers worldwide. And this “MOR for life” fan is just as excited. nnn THE third time turned out to be a charm for 23-yearold Abelaine Trinidad as she was proclaimed the Third Generation Center Girl of MNL48 after she got the most number of votes in the MNL48 Third General Election on It’s Showtime. After finishing Rank 2 in the First General Election and Rank 3 in the Second General Election, Abby finally secured the Center Girl position to lead the Third Year members this year. The MNL48 Third General Election is an annual event where fans get to choose who among their members they think should be part of the Top 48,

following the system of MNL48’s international sister group, AKB48. The said election started last March 2020 and ended last November 2020. “Grabe hindi ko ini-expect bilang first generation member na ngayon na naging parte pa rin ng third generation member,” Abby said. “Thank you so much sa binigay n’yong opportunity kasi talagang tinulungan ninyo ako mag-improve. Kaya po ako nandito dahil sa inyo. Kung wala po kayo, wala din po dito. Thank you sa MNLoves, family and friends po.” Coming in second in this year’s general election is MNL48’s First Generation Center Girl, Sheki Arzaga, while Maria Jamie Beatrice Alberto took the third rank. Completing the KAMI7 are MNL48 Ruth (Rank 4), Ella (Rank 5), Jan (Rank 6), and Andi (Rank 7). Adding to the Senbatsu roster are Jem, Yzabel, Gab, Alice, Princess, Lara, Coleen, Thea and Tin. The new Senbatsu led by Abby, together with the Undergirls, will start preparing for their seventh single. Meanwhile, four of Third General Election’s hashtags also trended on Twitter last Saturday. As of this writing, netizens have produced 600,000 tweets about the said election. n

GMovies streams Pinoy BL series If you’ve still got that hangover from Cupid’s holiday and are in the mood for some Boys Love entertainment, you’re in for a romantic treat because the sequel of Filipino BL series Ben X Jim, the first installment of which premiered on YouTube, has landed on Upstream, and you can easily buy your tickets for the entire season via GMovies for only P250. In partnership with GMovies, Upstream now presents not only movies but also TV shows, with Season 2 of Regal Entertainment’s Ben X Jim first on the list. Written and directed by Easy Ferrer, Ben X Jim follows the story of two people who go from strangers to lovers then back to strangers with memories. The show stars Teejay

Rhian Ramos renews contract with GMA Versatile actress Rhian Ramos renewed her exclusive contract with GMA on February 19. Present during the contract signing were GMA Senior Vice President for Entertainment Group Lilybeth G. Rasonable, GMA Vice President for Drama Productions Redgie Acuña-Magno, GMA Vice President for Business Development Department III Darling de Jesus-Bodegon, GMA Senior Assistant Vice President for Alternative Productions Gigi Santiago-Lara, GMA Assistant Vice President for Drama Productions Cheryl Ching-Sy, senior program manager Charles Koo, and Rhian’s manager Michael Uycoco. Following her string of successful projects and solid portrayal of diverse roles, Rhian expresses her gratitude and loyalty toward the network, “I feel so lucky that I get to live my dream and continue to live my dream with a station that supports me, and it feels so right because GMA is my home, they’re my family. I feel comfortable here. I feel well-guided and taken care of. I’ve been here for 15 years already and loyalty is a value that I really appreciate in others, and I also try to emulate it myself. I feel that GMA has also been so loyal to me through the years with all the opportunities and guidance they’ve given me.”

Having first graced the small screen in 2006 with her acting debut in Captain Barbell and further establishing her name in the industry after her iconic role in Stairway to Heaven, Rhian has evolved into a fine actress with her incredible range and experience. At present, she is one of the lead stars of the top-rating prime-time series Love of My Life. The multitalented actress shared that she is likewise beyond excited to do more hosting projects in the future: “The reason why I really want to host more moving forward is because, while I’ve hosted many shows in GMA before, as I get older and as I grow, I feel much more comfortable and confident with myself that it’s really fun to just experience something with the audience kasi that’s what hosts do.” Meanwhile, Rasonable recalled Rhian’s beginnings with the network and expressed her admiration for her growth as an artist, “’Yung television career niya, dito talaga nag-umpisa sa GMA. We saw her first in a TV ad and then we looked for her. Since she was 16, she has been with GMA and we consider her our GMA baby. Over the years, it makes me proud na makitang nag-grow talaga siya bilang isang artista. We try our best na higitan kung ano ’yung nagawa na namin at bigyan ang ating mga aktor ng roles that will challenge them more and improve their craft.”

Marquez as Ben and Jerome Ponce as Jim. Sarah Edwards, Ron Angeles and Kat Galang reprise their roles from the first season and are joined by new cast members Vance Larena, Royce Cabrera, Ejay Jallorina, Miko Gallardo, Darwin Yu, Anika dela Cruz, and Jomari Angeles. Check out the trailer at bit.ly/BenxJimS2. Tickets to Ben X Jim can be had via GMovies in just a few clicks. Go to www. gmovies.ph, select the series from the “Home” or “Stream Now” page, select specific season to rent in the details page, proceed to rent the desired season, select preferred payment method and complete checkout process, then start streaming on Upstream or watch later from the “My Shows” tab.

B6 Friday, February 26, 2021

Global indoor air quality management company launches uHoo Aura for safe work places B. Braun Avitum CSR programs bring free dialysis treatments to patients in need

HOO, a global indoor air quality management company, recently announced the launch of uHoo AuraTM, the best-in-class indoor environmental quality monitor that provides real-time data and actionable insights on key indoor environmental quality factors to help businesses and building owners create a healthy, safe, and productive workplace. uHoo Aura monitors 13 different indoor environmental parameters - temperature, relative humidity, carbon dioxide, various particle sizes (PM10, PM4, PM2.5, PM1), carbon monoxide, formaldehyde, volatile organic compounds (VOCs), air pressure, light, and sound - so business owners can customize and track indoor environmental quality factors according to their business needs. A simplified dashboard provides a consolidated view of all the devices in the different locations as well as customized email and push notification alerts that can be set up to help prioritize and take action on specific issues in the building. Advanced analytics and proprietary uHoo IndicesTM provide valuable insights on trends and patterns to easily identify events that may have caused air quality issues so they can be prevented in the future; owners can make informed decisions to ensure health, safety,

and wellbeing. The option to share data is also especially helpful for businesses looking to achieve sustainability and green building certifications as well as providing confidence and peace of mind to customers, employees, and building occupants. uHoo Aura can easily be integrated with any software or building management system. Integration allows automation of the building’s heating, air-conditioning, and ventilation (HVAC) system to enhance comfort and safety while optimizing energy use; thereby creating a smarter and healthier building and office environment. Dustin Jefferson S. Onghanseng, uHoo CEO and co-Founder said, “we are extremely pleased about introducing uHoo Aura in the market at a time when there is an urgent need for businesses and governments to ensure sustainability by investing in the health, safety, and wellbeing of citizens, employees, occupants, and customers. uHoo Aura empowers business leaders to take control of the air their customers and employees breathe and create healthy buildings, offices, schools, restaurants, hotels, and healthcare facilities.”

PHOTO shows Gerome Magboo (center) flanked by 2 nurses at the B. Braun Avitum dialysis center. Gerome is the grand prize winner of B. Braun’s Vlog Contest, which provides patients the opportunity to showcase their “vlogging” talents on 1 to 2 minute-long videos where they can share amazing and inspirational stories of their dialysis journey with B. Braun.

. Braun Avitum Philippines, one of the leading dialysis companies in the Philippines, saw yet another opportunity to give back with the launch of its ‘Share-A-Dialysis’ treatment program. ‘Share-A-Dialysis’ allowed kindhearted individuals to nominate a B. Braun Avitum dialysis patient to receive free dialysis treatments simply by “nominating” the patient via Facebook Messenger, sharing their inspiring story, and explaining why they deserve the free treatment on B. Braun’s official Facebook page. In addition to ‘Share-A-Dialysis,’ another contest, called the B. Braun’s Vlog Contest, provided an opportunity for B. Braun patients to showcase their “vlogging” talents on 1 to 2 minute-long

videos where they can share amazing and inspirational stories of their dialysis journey with B. Braun. Selected winners on the ‘Share-ADialysis’ program and the B. Braun’s Vlog Contest were awarded three free treatments as a consolation prize, and five free treatments as a grand prize. The winners of ‘Share-A-Dialysis’ and the B. Braun’s Vlog Contest were announced in the company’s official Facebook page on December 15 and December 20, respectively, with the latter’s winning vlog entries also being posted in the Facebook page. The coronavirus pandemic affected countless numbers in ways we cannot imagine, but perhaps more so with those who are poverty-stricken.

B. Braun always answers the call with a readiness to lend a hand. Part of the ‘B. Braun Cares’ umbrella advocacy, ‘Share-A-Dialysis’ and the B. Braun’s Vlog Contest are just some examples of many CSR (corporate social responsibility) programs that demonstrate the company’s faithful concern for its patients. These company initiatives help deserving indigent patients, providing moral and financial support extended willingly not just to B. Braun Avitum Philippines stakeholders but to others, as well. Due to the overwhelming successes of last year’s B. Braun Cares, the company has committed to introduce similar programs that will surely touch the lives of many others in need.

Kaabo Philippines provides fun and safe transportation to community in quarantine

AABO Electric Scooters, designer and manufacturer of ecofriendly and innovative electric scooters, has given the public a big lift by partnering with city mayors, the Armed Forces of the Philippines, and frontliners to help ease the burden of transportation and ensure community safety under quarantine. The marquee brand plans to offer more electric scooters to condominiums, subdivisions and villages, as well as provide free rides for the general public. “As soon as I got my first electric scooter, I fell in love with it and it became a hobby that turned into passion. I have used one almost every day since then,” said Eugene Martinez of Ekstreme Scooters, the country’s leading electric scooter service repair shop which exclusively distributes Kaabo scooters. Once the lockdown had taken effect, Kaabo electric scooters were lent to local government agencies. Ekstreme Scooters, the dealer of Kaabo Philippines, offered discounts to frontliner-buyers. The brand had become a main attraction in sports activities for electric scooters such as drag racing, skills challenge and racetrack racing. Ekstreme Scooters, which started in 2018 when Martinez began fixing and modifying scooters in his garage, acquired exclusivity of Kaabo electric scooters the following year. Last year, it took in three more brands under its fold, namely, Aerlang, Hiley, and Zukboard scooters. Currently, Kaabo scooters are carried by two stores and four dealerships available in Baguio, Quezon City, Makati, Cebu, Davao, and R.O.X. retail stores. After seven years of development, Kaabo, which has its own production and design team departments, has accumulated more than 25 patents, especially in terms of how to maintain the stability and safety of the vehicle under high speed and long battery life. It had obtained a lot of practical data to ensure the quality of the product.

In 2020, because of the pandemic, electric scooters had become a practical choice for personal travel. Kaabo upholds the goal of providing excellent products around the world, with environmental protection, safety and portability being the essence of its product vision. Martinez noted, “To be successful in this industry, you have to be passionate and hands-on in what you’re doing. Branding, product quality, and customer service will always be on top priority. Social media marketing also plays a big role in showing the performance of your products.” In further sharing his secret to entrepreneurship with a heart, he added, “We offer discounts and installment payments to make the product more affordable. Having multiple branches also increases brand presence and accessibility to service centers.” During strict lockdowns, transportation business was among the firsts to be shut down because of health and safety measures. Electric scooters somehow came to save the day. The pandemic saw a boom in the electric

scooter industry, with the vehicle serving as right alternative transportation. People now appreciate the time and cost they save when using electric scooters for daily transportation. It is very ideal for every household, especially those who don’t have parking spaces. Martinez also argued, “Traveling alone is the best way to prevent the virus from spreading and it will cost you less because electric scooters only cost P0.33 per km.” Electric mobility is the future of transportation with the pandemic forcing us to rely on it. Its benefit as eco-friendly transportation will not just save the environment but will also help get away from gasoline independency. Electric scooters are designed to be portable unlike cars and motorcycles, hence, people leaving in condos or houses without parking will benefit from this feature. It is also faster to travel using electric scooters. LGUs have started to implement bike lanes in every city while the government allows electric scooters to be used following the speed limit. It will be safer for the electric scooter riders to travel when all bike lanes have been implemented.

EUGENE Martinez of Ekstreme Scooters, the country’s leading electric scooter service repair shop which exclusively distributes Kaabo scooters.

SM PULILAN’S PICNIC BONFIRE. Enjoy dining in the great outdoors at SM Pulilan’s Picnic Bonfire in the mall’s Bike Trail area. Taking inspiration from ‘glamping’ the attraction is an instagrammable spot equipped with picnic and bonfire pits as well as themed huts and tents. It also has comfortable throw pillows and wooden chairs and tables for mall patrons to enjoy and create lasting bonding moments with a view of the nature and night sky.

Villar lauds 3 Pinoy space engineers in the 2nd nanosatellite launched to the ISS

ENATOR Cynthia A. Villar wants the Senate to recognize the three Filiipino space engineers for developing Maya2 CubeSat, the country’s 2nd nanosatellite successfully launched to the International Space Station (ISS) last Feb. 21. In filing Senate Resolution 657, also introduced by Sen. Nancy Binay, Villar said the three engineers—Izrael Zenar C. Bautista, Mark Angelo C. Puno and Marloun P. Sejera, have brought pride to the country for the satellite launched aboard the cargo spacecraft Cygnus “NG 15.” Villar said the remarkable achievements of the three Filipino engineers are not just in line with the policies and goals of the Philippine Space Act. It was also viewed as a “welcome good news” bringing genuine inspiration to the Filipinos amid the backdrop of the prolonged Covid-19 pandemic in the country. “Their work on the development of Maya2 CubeSat launched into space constitutes a valuable contribution to the country’s science and technology, particularly in the area of space science,” noted Villar. And for this, Villar said the three, who are currently pursuing their respective doctorate degrees in Space Engineering at the Kyushu Institute of Technology in Japan, should be given commendation. She related that the Philippine Senate has in numerous occasions paid tribute to exemplary Filipinos for their outstanding contribution to the country.

Furthermore, the senator said the 1987 Constitution recognizes that science and technology are essential for national development and progress. Due to this, the State shall give priority to research and development, invention, innovation and their utilization, and to the science and technology education, training and services. Villar said the Maya-2 CubeSat, while being the second Philippine nanosatellite launched, is actually considered as the country’s 4th satellite orbiting into space. The Philippines launched Diwata 1 microsatellite on March 23, 2016; Diwata 2 microsatellite on Oct. 29, 2018 and Maya-1 nanosatellite on June 29,2018. The Maya-2 uses commercial off-theshelf (COTS) components to verify proper function in space and the information gathered form the basis for the usage of these COTS components for future space missions. It also carries a store-and-forward payload that can be used to gather data from ground sensors for more practical applications like for weather and infectious disease analysis. The Maya-2 CubeSat was launched to the ISS along with GuaranSat- CubeSat of Paraguay and Tsuru CubSat of Japan under the BIRDS-4 Project or the Fourth Leg of the Joint Global Multi-Nation Birds Satellite Project, initiated by the Kyushu Institute of Technology in Japan. The spacecraft Cygnus “NG-15”, carrying the Maya-2 CubeSat, is Northrop Gumman’s 15rh contracted cargo resupply mission for NSA to the ISS and tasked to deliver 8,000 pounds of science and research, crew supplies, and vehicle hardware to the orbital laboratory and its crew. It was propelled through the launcher Grumman Antaresr rocket, lifted off from the Mid-Atlantic Regional Spaceport, Pad 0A at the Wallops Flight Facility of the National Aeronautics and Space Administration in Virginia, USA.

Sports BusinessMirror

Editor: Jun Lomibao

mirror_sports@yahoo.com.ph / Friday, February 26, 2021

PURELY AN ACCIDENT? A LAW enforcement officer looks over Tiger Woods’s damaged vehicle. AP

OS ANGELES—The Los Angeles County sheriff on Wednesday characterized the crash that seriously injured Tiger Woods as “purely an accident” and appeared to rule

out any potential criminal charges even as authorities were still investigating. Deputies saw no evidence the golf star was impaired by drugs or alcohol after Tuesday’s rollover wreck on a downhill

Volleyball returns in Subic sand courts

HE Philippine Superliga (PSL) makes a historic return with eight teams clashing in the 2021 Gatorade-Beach Volleyball Challenge Cup starting on Friday at the Subic Bay Freeport’s sand courts. With no reported case of coronavirus infection among the 56 players, coaches and league staff, it’s all systems go for the bubble tournament being held in cooperation with the Subic Bay Metropolitan Authority (SBMA) and the Inter-Agency Task Force on Emerging Infectious Diseases (IATF) Central Luzon. Action fires off at 8 a.m. with Bang Pineda and Jonah Sabete of Sta. Lucia 2 coming in as heavy favorites against Arianne Luna Alarcon and Christina Canares of Kennedy Solar EnergyPetroGazz in Pool A. Chery Tiggo carries the colors of United

Auctioneers, Inc. with Ella Viray and Therese Ramas seeing action against Jennifer Cosas and Gelimae Villanueva of Abanse Negrense 2 at 9 a.m. in Pool B. F2 Logistics fields Jenny Mar Senares and Kyla Angela Gallego against Alexa Polidario and Erjan Magdato of Abanse Negrense 1 in the 10 a.m. battle in Pool A. Matches will be streamed live on PSL’s YouTube channel. The tournament also has Cherrylume, Ube Express and Subic Bay Peninsular Hotel as sponsors and Cocolife, Cocogen Insurance, Data Project and Genius Sports as technical partners. PSL president Ian Laurel said the PSL is honored to become the first non-professional volleyball tournament to restart its season after securing the IATF nod through Resolution 79 dated October 15, 2020.

Marcial gets busy sparring, hitting mitts at Wild Card

UMIR FELIX MARCIAL is getting all the sparring hours he needs at the Wild Card Gym as he relentlessly keeps his focus on the Tokyo Olympics. “He is taking advantage of all the sparring sessions he gets from different styles—Russians, Americans and Latinos,” Freddie Roach’s Filipino assistant trainer Marvin Somodio told BusinessMirror on Thursday. “He really likes to spar,” said Somodio, adding Marcial has improved a lot under Roach’s keen eyes. “He hits his punches accurately and is very composed,” Somodio said. “It wasn’t like before when he just throws punches recklessly.” Marcial, according to MP Promotions President Sean Gibbons, could be fighting again as a pro in late March or early April, before the 25-year-old Zamboanga City native flies to

Thailand to join his fellow national boxers in training camp. Marcial debuted as a pro with a flourish by scoring a unanimous decision win over American Andrew Whitfield last December 16 in Los Angeles. He spends most of his time sparring with 6-foot-4 Diego Pacheco, Gabe Rosado, Russian Artur Akavov and Eric Priest. Somodio added Marcial needs to perfect his counterpunching, control and proper timing because the competition in Tokyo are professional in approach in scoring. “So he needs to take care of his defense and hit his opponent solidly,” he said. Marcial spars on Mondays, Wednesdays and Fridays and does the mitts on Tuesdays alternately with Roach or Somodio. Josef Ramos

EUMIR FELIX MARCIAL gets precious advise from Freddie Roach at the Wild Card Gym.

NCAA hoops bubble pegged at P40M By Josef Ramos

HE National Collegiate Athletic Association (NCAA) is staring at a whopping P40 million expense if it wants to hold a men’s 5x5 basketball tournament in a bubble environment for its 96th season. BusinessMirror learned of the exorbitant cost from a top league official, who begged off from being identified sans an official statement from the organization. The total expense could be divided among the 10 member schools, but BusinessMirror again learned that such option would be farthest from the members’ minds because the Covid-19 pandemic crippled the academic community, thus no income from tuition. The P40 million do not include the cost of conducting a juniors 5x5 basketball tournament as well as 3x3 basketball, which would

separately need P8 million to run. The NCAA official said holding the other sports in the league program could be far-fetched at the moment. The basketball bubble could be a three-month activity, adding more complications for the league to return to action because face-to-face classes remain banned, the NCAA official said. NCAA Management Committee chairman Fr. Vic Calvo of Season 96 host Letran didn’t confirm the cost of holding a 5x5 basketballonly season, but said that the league would be relentless in staging the Season 96. “We are not stopping. We meet once or twice a week for four to five hours,” Calvo said on Thursday. “We will come up with what we have.” The NCAA signed GMA 7 as its official television coveror but neither Calvo nor the NCAA official could confirm if the network would shoulder the cost of holding the bubble.

stretch of road known for crashes, Sheriff Alex Villanueva said. “He was not drunk,” Villanueva said during a livestreamed social-media event. “We can throw that one out.” Woods, who had checked into a clinic in 2017 for help dealing with prescription medication, was driving alone through coastal Los Angeles suburbs when his SUV struck a raised median, crossed into oncoming lanes and flipped several times. The crash caused “significant” injuries to his right leg that required surgery, according to a post on the golfer’s Twitter account. Deputy Carlos Gonzalez, who was first to arrive at the crash, patrols the road and said he sometimes catches people topping 80 mph (129 kph) in the downhill, 45-mph zone and that wrecks are common.

Justin King, a personal injury attorney in California, said that if investigators prove the road is unsafe and contributed to Woods’s crash and others, the municipality that controls it could be held liable. The wreck happened on the border between the communities of Rolling Hills Estates and Rancho Palos Verdes, and the county supervisor who represents the area has requested a safety review. Meanwhile, Villanueva said investigators may seek search warrants for a blood sample to definitively rule out drugs and alcohol. Detectives also could apply for search warrants for Woods’s cellphone to see if he was driving distracted, as well as the vehicle’s event data recorder, or “black box,” which would give information about how fast he was going. Joe Giacalone, a professor at the John Jay College of Criminal Justice and a retired New York police sergeant, said it was “premature” for Villanueva to determine the crash was an accident just a day later. “The blood test could give us a whole other insight,” Giacalone said, noting that some drugs are not necessarily detectable by observation. “Because it’s Tiger Woods, people are going to demand answers. You have to dot your I’s and cross your T’s.” Crash investigations typically include interviews of first responders and bystanders

as well as inspections of the road and the vehicle, including photographing and measuring the scene and checking to see if the vehicle had defects or malfunctions, according to William Peppard, a retired Bergen County, New Jersey, police detective who has served as a crash investigator. Peppard said in typical cases with no immediate indications the driver was impaired, detectives might not seek blood samples if the crash did not injure anyone else or damage property. “Take the celebrity out of it—it’s a matter of resources and time,” he said. In 2017, Woods was arrested on a DUI charge when Florida police found him asleep behind the wheel of his car parked awkwardly on the side of the road, with its engine still running, two flat tires and a blinker flashing. Woods said he had an unexpected reaction to pain medication. He eventually pleaded guilty to a reduced charge of reckless driving. Three weeks after the arrest, he entered a clinic for help dealing with prescription medication and a sleep disorder. The crash this week was the latest setback for Woods, who at times has looked unstoppable with his 15 major championships and record-tying 82 victories on the PGA Tour. He is among the world’s most recognizable sports figures, and at 45,

with a reduced schedule from nine previous surgeries, remains golf’s biggest draw. Injuries, however, have been a big part of his narrative dating to his epic victory in the 2008 US Open at Torrey Pines, where he won with shredded knee ligaments and two stress fractures in his left leg. In 2009, his personal life imploded when he was caught having multiple extramarital affairs and crashed his vehicle into a fire hydrant and tree. He went two years without winning. After returning to No. 1 in the world in 2013, when he won five times and was PGA Tour player of the year for the 11th time, he had his first back surgery in 2014. He played only 16 times over the next four years. But he always made it back. Even after four back surgeries, he won the Masters in April 2019 for the fifth time, which ranks among the great comebacks in the sport. Woods had a fifth back surgery, a microdiscectomy, on December 23, just three days after he played the PNC Championship with his son Charlie, now 12. He was in Los Angeles over the weekend as the tournament host of the Genesis Invitational at Riviera Country Club. Monday and Tuesday had been set aside for him to give golf tips to celebrities on Discoveryowned GOLFTV. AP

Motoring BusinessMirror

B8 Friday, February 26, 2021

Editor: Tet Andolong

Ford unveils New Ranger with ‘Live the Ranger Life’ philosophy F Story by Randy S. Peregrino

ORD Philippines recently launched the refreshed Ranger lineup boasting new exterior enhancements to offer customers a new look more attuned to today’s needs and lifestyles. Also introduced was the “Live the Ranger Life” philosophy, which commemorates Ranger customers’ inner strengths, individualities, and diverse lifestyles.

“Our new Ford Ranger lineup will allow us to continue building on our leadership in the pickup segment in the country,” said PK Umashankar, president and managing director, Ford Philippines. “The new Ranger is set to deliver on its promise of functionality and capability while enabling the diverse needs and lifestyles of our customers.”

New look and design

The new Ranger sports a bolder look and new design elements, giving it

a stronger impression and tougher stance on the road. The new Ranger Wildtrak variants feature a new eyecatching trapezoidal shape grille with Saber accents, reflecting the Ranger’s brand of unmatched design. Complementing this bolder look are painted gloss black wheels and gloss black accents on its front grille, lower bumper, rear bumper, fog lamp bezel, exterior mirrors, and fender grille. There is also a sports bar with Saber insert, roof rail, tailgate handle, new ‘Wildtrak’ decals

Car-seat law & MVIS torpedoed; Lexus ‘omotenashi’

HO s a id P res ide nt Duterte has stopped acting fast? Think again, fellas. In one fell swoop, President Duterte torpedoed the car seat law and the motor vehicle inspection system (MVIS). The nation applauded. But, of course. Who wouldn’t? The motoring public was angry. The Chief Executive responded with the quickness of a fast draw in a Western film. It was like seeing him hit two birds with one stone. The car seat law requiring 12-yearolds and below to be strapped to a chair while aboard a vehicle was plugged with loopholes. Even its author, in a remorse-laden reaction to a complaining populace, has apologized. “I’m sorry if I had caused inconvenience to the public,” said JV Estrada, the former senator who sponsored the bill. The law is now being reviewed and its implementation suspended indefinitely. Same with the MVIS, which is not even a law but an LTO (Land Transportation Office) administrative order requiring full-body inspection of a vehicle before it is given clearance for renewal of registration. It is so sweeping a ruling that it discarded existing testing emission centers from all across the archipelago, throwing many small entrepreneurs, who charge only a minimal P400 for each emission test, off-balance. They were kicked out of business by the MVIS. No due process at all. There is something fishy in the new set-up, prompting the Senate to investigate the matter. Senator Grace Poe herself has asked the LTO’s list of accredited in-

spection centers, obviously to check if there were favored operators of the MVIS scheme as bidding for its operations was never observed. While the MVIS was in operation, motorists were required to cough out P1,800 for the first inspection. If the vehicle “fails” the initial test, a second testing would cost the owner another P800. If that’s not highway robbery, what is? In a stunning twist, an MVIS officer, whose name escapes me, said the vehicle testing will still be in force despite its suspension but it’d be done for either a minimal fee or free. What kind of an animal is that? Even Senate Minority floor leader Franklin Drilon, aghast at the bloke’s statement, said: “What is a suspension order if it is not being enforced at all?” The plot thickens.

Lexus ‘omotenashi’

THE so-called ‘omotenashi’ of Lexus is the fulfilment of a customer’s desire for satisfaction. Jade B. Sison, Lexus Manila president Raymond T. Rodriguez’s front-liner when it comes to new company approaches, discusses the outfit’s new models offering promos of 30-percent down-payment, 36-month/24-month terms and zero interest. Here: The Lexus NX 300 (P3,208,000) combines sporty urban driving performance with the power of an SUV. After the NX was first introduced in 2014, it would quickly become a world best-seller. Power comes from a turbocharged 2.0-liter inline 4-cylinder direct-injection engine which delivers 235hp and 350Nm of torque to all four wheels via a six-speed automatic transmission.

n Ranger 2.2L FX4 4x2 MT (P1.256 million) n Ranger 2.2L XLT 4x2 AT (P1.236 million) n Ranger 2.2L XLS 4x4 MT (P1.181 million) n Ranger 2.2L XLT 4x2 MT (P1.176 million) n Ranger 2.2L XLS 4x2 AT (P1.092 million) n Ranger 2.2L XLS 4x2 MT (P1.062 million)

Live the Ranger Life The New Ranger complete lineup

on the side door, and a 3D ‘Wildtrak’ decal on the tailgate. Exclusive to the 4x4 Wildtrak as an optional offer for customers is the power roller shutter—a load compartment accessory from Ford’s original equipment. It is fully automatic with three power buttons located in the dashboard, a remote key, and a pickup bed for easy access and comes with a power tailgate lock. The Ranger XLT variant, meantime, comes with a new front grille with chrome accents and exterior gloss black accents, exterior mirrors, door handles, and fog lamp bezel. As for the Ranger XLS variants, it received a new front grille. The Lexus NX 300 F Sport (P3,708,000) possesses the same elements that have made it popular in the past a sharp design, everyday convenience and driving pleasure that will satisfy all enthusiasts. The NX F Sport has evolved dramatically, but stays true to its core mission of offering an engaging drive. The Lexus ES 350 (P4,478,000) will challenge the traditional expectations of consumers. Introduced in 1989 as part of Lexus' debut vehicle lineup alongside the brand's flagship model, the LS, it is armed with a 17-speaker Mark Levinson Premium Surround Sound System and a 300hp 3.5-liter V6 engine mated to an 8-speed automatic transmission. The Lexus RX 350L (P4,858,000) has an extended body length of 110 mm (4.3 inches). Its rear has a steeper tailgate window angle than on the two-row models ensuring good headroom for third-row passengers and greater cargo room behind the third row. The Lexus UX 200 (P2,538,000) caters to urbanites in search of a fresh, contemporary and dynamic take on luxury driving. A lightweight yet super-rigid structure, low center of gravity and refined suspension tuning endow the UX with exemplary handling agility and ride comfort, along with a distinctive driving personality. The Lexus UX 200 F Sport (P3,108,000) exterior can be distinguished from standard models by its LFA-inspired gauges of 18-inch alloy wheels, F Sport grille and sport seats. It offers a driving position that makes the crossover feel more like a responsive hatchback to drive, rather than an SUV. To learn more, call (632) 8856 5050 or visit the Lexus Remote Page at https://www.lexus.com.ph/en/ lexus-remote.html for a hassle-free, contactless purchase journey.

PEE STOP Toyota is offering P100,000 discount for the Vios, P60,000 Innova or Fortuner and P50,000 Corolla Altis or Hiace Commuter. Offers up to February 28 only. Trade-ins also accepted up to P40,000 rebate…Honda has New Year “buy one, take one” deals of its models City and BR-V. Visit www. hondaphil.com for more details.

The new Ranger variants are available in all Ford dealerships nationwide with the following price points: n Ranger 2.0L Bi-Turbo Raptor 4x4 AT (P1.998 million) n Ranger 2.0L Bi-Turbo Wildtrak 4x4 AT (P1.728 million) n Ranger 2.0L Wildtrak 4x2 AT (P1.455) n Ranger 2.2L FX4 4x4 AT (P1.416 million) n Ranger 2.0L Wildtrak 4x2 MT (P1.390 million) n Ranger 2.2L FX4 4x4 MT (P1.356 million) n Ranger 2.2L FX4 4x2 AT (P1.316 million)

Bringing the Ranger’s values and persona to life, Ford also unveiled the new ‘Live the Ranger Life’ philosophy. It aims to highlight and celebrate the many ways that the renowned strength and engineering capabilities of the Ranger reflect. Further, it supported the customers’ personal goals and life’s drive and centered around five guiding values. One is ‘Up and Over,’ focusing on how no challenge we don’t tackle ahead. When we see a mountain range, we want to go over, not around. That is true of our truck, users, Ford, and partners. Another is ‘Can’t Help but Help’, which means that we are doers, and we pitch in. When people need help or assistance, we’re always there. On the building site, helping

friends or loved ones, or our dealers within their local communities. Then there is the ‘Where There Isn’t a Path, Carve One’. We are the truck that redefined the category. We don’t wait for others to lead. We have a vision and objective, and we’re fearless in what we need to do to achieve our goals. Also, ‘Bring Others Along the Journey’ since it is great to work hard and achieve recognition, but even better to share it with those who mean the most - our family and friends. Last, ‘We Make Our Own Fun’ because there’s no such thing as all work and no play. And when it’s time to play, we know how to make the most of those opportunities. Our truck is awesome and fun to drive. “Live the Ranger Life will allow us to connect with our customers in a deeper and more emotional way by showcasing how the Ranger enables their passions and goals. Understanding our customers allows us to deliver the right vehicles that truly meet their needs today and in the future. Beyond their functionality and versatility, pickup trucks have become symbols of success for our customers, and the new Ranger’s refreshed look and design will allow them to fully express their identity and individuality,” explained Umashankar.

Year of the Ox: ‘OKS’ deals on Hyundai commercial vehicles

ET Hyundai Asia Resources, Inc. (HARI) help you change your luck for the better with the Oks na Oks sa Year of the Ox promo. From February 12 to March 15, the official Philippine distributor of Hyundai vehicles, offers huge savings on its hard-working fleet of trucks and minibuses. For light-duty trucks, P140,000 off on the HD65/65X cab and chassis and P280,000 off on the HD36L Maxculado cab and chassis; a P200,000 cash discount on the premium COUNTY to set your shuttle business on track; and, for those looking for massive, heavy-duty support for construction, logistics, or other heavy industries, a hefty P480,000 discount on the XCIENT dump truck and tractor (6- and 10-wheeler; cab and chassis).

Stay strong with the HD36L Maxculado

Built with high-capacity chassis and made even more durable with its new ladder frame that features heavier gauge steel, the HD36L Maxculado helps you muscle up any business that requires a good deal of heavy lifting. Now 11.8 feet (3600 mm) long, the extended wheelbase and longer cargo bed can accommodate an 11-foot rear deck, giving it a 1.7- ton payload capacity. Complementing the sturdy build is the new more fuel-efficient 2.5-liter diesel engine that gives 130ps power output and 26kg-m torque, further optimized by mating it to a six-speed transmission that delivers 53 percent more torque than its predecessor and makes for a more effortless drive.

Work hard and smart with the HD65/65X

Engineered to make light work of heavy duties, the HD65/65X is a hardy vehicle built with heattreated, web-strengthened, ultra-rigid super frame that make for the superior performance and safety of Hyundai HD trucks. When it comes to power, the HD65/65X does

not disappoint with its Euro 4 D4GA direct-injection diesel engine with turbocharger. Mated to a 5-speed manual transmission system, this engine generates maximum power output of 150 ps @ 2,500 rpm and maximum torque of 59 kg-m @ 1,400 rpm. All within a highly efficient engine operation that optimally churns generous power at minimal fuel consumption.

Aim big with the reliable XCIENT

Boasting of a robust design, highlighted by a striking and voluminous front grille, and bold, dynamic lines, the Hyundai XCIENT is a commanding presence on the road. Its strength of character is reinforced even more by the extensive application of Hyundai’s signature high-strength steel, contributing to structural integrity and durability whatever the road or load. The XCIENT is built to take on tough jobs with its front and rear multi-leaf suspension system and its core Powertech engine (in the D6HA and D6CC for XCIENT cargo trucks and XCIENT 4x2 and 6x2 tractor heads).

Count on the COUNTY for countless business ideas

Specially designed for mass transport, the COUNTY mini-bus boasts a host of features that assures dependability, safety, and comfort. Its body alone is as sturdy and as stable as it gets, thanks to greater rust-resistance from Hyundai’s standard seven-dip electrodeposition primer (EDP), or electrostatic immersion process, plus a stringent chassis durability test that ensures that it can handle a variety of road conditions. This Year of the Ox, luck can come in many forms—best of them is the choice of the best partner to get your business back on track. Keep your luck coming and your business moving with great deals on Hyundai commercial vehicles, para maging Oks na Oks sa Year of the Ox! Promo runs from February 12 to March 15, 2021. See flyers for complete details. Get to know more of Hyundai trucks and buses at https://www. hyundai.ph/trucksandbuses or request for a quote at Hyundai e-B2B: easy Booking to Buying: https:// bit.ly/HyundaieB2B.

2.85-km Section of Alaminos-San Pablo City Bypass Road to open in March

UBLIC Works and Highways Secretary Mark A. Villar has announced the opening on March 15 of 2.85-kilometer section of the Alaminos-San Pablo City Bypass Road Phase 1 Project in the province of Laguna. Secretary Villar led the progress inspection of Alaminos, Laguna side of the bypass road starting from Daang Maharlika. “This may only be just a small portion of the 12.83-kilometer Alaminos-San Pablo City Bypass Road but this marks the non-stop efforts of the Department to improve road network to support underdeveloped areas,” said Secretary Villar.

“The entire Alaminos-San Pablo City Bypass Road with five bridge components is envisioned to cut travel time by as much as 20-40 minutes, thereby improving mobility between the two towns of Laguna,” added Secretary Villar. DPWH has so far completed 4-kilometer road opening and 1.63-kilometer road concreting under CY 2016; 1.22-kilometer road opening, construction of Bridge 1, 2, and 3 and 1.92-kilometer road concreting under CY 2017. Five segments funded under CY 2018, 2019, and 2020 are now ongoing covering

the construction of Bridge 4 and 5 which are now 45 percent and 15 percent completed respectively. Also ongoing are the 5.31-kilometer road concreting with thermoplastic pavement markings now 15 percent completed, construction of another 2.45-kilometer road with line canal npw 25 percent completed, and widening of Bridge 1 and 2 now 89 percent completed. The project has received a total allocation of P1.36 Billion since 2016 and will require P473 Million more in funds to cover the widening of Bridge 3, 4, and 5, and paving of shoulder of the entire bypass road project.