BusinessMirror January 06, 2021 by BusinessMirror

PhilHealth defers rate hike; UHC tweaks bill rushed

HE Philippine Health Insurance Corporation (PhilHealth) announced on Tuesday it is temporarily deferring the implementation of its scheduled premium contribution hike following President Duterte’s directive. In a statement, PhilHealth President and Chief Executive Officer Dante A. Gierran said that in the meantime they will still collect premiums from direct contributors using the 3 percent instead of the 3.5 percent contribution rate with a monthly income ceiling of P60,000 instead of P70,000. However, Gierran was quick to point out that the “interim arrangement” will be good until Congress passes a new law allowing the deferment of scheduled premium adjustment in the Universal

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Health Care (UHC) law. “Should there be no new legislation passed for this purpose, the state health insurer will proceed with the scheduled premium rate and ceiling as provided for in the UHC law,” it said. In his weekly public address late Monday, Duterte asked PhilHealth to defer its scheduled premium hike this year, and lawmakers in both chambers of Congress quickly signalled support for remedial legislation to stop the provision of the Universal Health Care (UHC) Law mandating the rate hike.

‘Certify UHC amendment’

HOWEVER, one senator also urged Duterte to certify as urgent the remedial legislation that lawmakers filed in response to calls from vari-

ous groups to halt the premium hike to give reprieve to workers still reeling from the impact of the Covid-19 pandemic. In a Viber message, Senator Imee Marcos said, “President Duterte must certify the bill” suspending the increase in PhilHealth contributions this year. “Good intentions need to be backed up by an amendment to the law,” Marcos said, after Duterte said payment of higher PhilHealth premiums should be postponed amid the economic and financial difficulties wrought by the Covid-19 pandemic. She asserted that billions of pesos in government loans “can plug revenue losses resulting from the postponement of contributions.” Marcos on Monday filed Sen-

ate Bill 1966 in a bid to postpone to 2022 the legal mandate of PhilHealth to raise membership contributions by 0.5 percent this year to 3.5 percent. “Under the UHC act, the same incremental 0.5-percent increase will be applied each year until 2025 when PhilHealth contributions will reach 5 percent of members’ salaries,” she noted, even as the senator suggested that “passing the bill to suspend the increase will also solve the dilemma of PhilHealth officials who were duty-bound to implement the law but must also heed the call of the times.” She warned that PhilHealth officials “may be accused of dereliction of duty if they do not carry out their mandate under the existing UHC Law.” Continued on A2

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AS INFLATION HITS 3.5% PEAKING PRICES HIT PINOYS’ PURCHASING POWER IN DEC 2020 By Cai U. Ordinario

Continued on A2 QUEZON City government with MMDA and MRT 7 contractor EEI started implementing a zipper lane from 6 am to 11 am to ease the traffic congestion along Commonwealth Avenue caused by the MRT-7 construction at the Quezon City Memorial Circle Elliptical Road-North Avenue interchange, which is being extended for another two months until February 27, 2021. NONOY LACZA

By Bianca Cuaresma

HE faster rise of consumer prices in the last month of the year may put the Bangko Sentral ng Pilipinas’ (BSP) easing measures on hold, at least in the early parts of 2021. After the Philippine Statistics Authority’s (PSA) announcement on Tuesday that inflation hit a 22-month high level of 3.5 percent in December, BSP Governor Benjamin Diokno told reporters that

this level of acceleration is well within their expectations for monetary policy. “The December 2020 inflation of 3.5 percent was within the BSP’s forecast range of 2.9 to 3.7

PESO EXCHANGE RATES n US 48.0220

percent.… The BSP continues to expect inflation to settle within the target range over the policy horizon,” Diokno said. The governor also said the recent uptrend in inflation is largely “transitory,” reflecting the shortterm impact of weather disturbances. The Philippines’s inflation numbers have been consistently rising toward the latter part of 2020. From 2.3 percent in September, it accelerated to 2.5 percent in October, 3.3 percent in November and up to 3.5 percent in December. This rise in the country’s inflation will likely push the BSP to

pause its easing measures despite earlier pronouncements that they will keep the country’s monetary policy accommodative to curb economic disruptions wrought by the measures used to curtail the spread of the pandemic.

No rate cuts soon

IN an assessment, ING Bank Manila economist Nicholas Mapa said with the recent inflation reading, the BSP is not likely to cut policy rates anytime soon. “With the central bank pushing up its 2021 inflation forecast to 3.2 percent, we do not expect

HE successive typhoons that struck the Philippines in the fourth quarter and the holidays increased the prices of goods and services in December 2020 and further weakened the purchasing power of Filipinos, Philippine Statistics Authority (PSA) data showed. On Tuesday, PSA reported that inflation rate accelerated to 3.5 percent, coming from 3.3 percent in November 2020 and 2.5 percent in December 2019. Full-year inflation was pegged at 2.6 percent, within government targets. However, the December data brought aggregate inflation from 2012 to 2020 to an aggregate of 26.2 percent, according to the computation of the PSA. “The quantity of goods and services worth P100 in 2012 is worth P126.20 in December 2020. The growth rate is 26.2 percent,” National Statistician Claire Dennis S. Mapa told the BusinessMirror. Weaker purchasing power for a consumption-driven economy like the Philippines means slower growth. But for households already struggling with low incomes, De La Salle University’s Maria Ella Oplas said, that could mean hunger. Oplas said the natural reaction of households to low incomes and high prices is to remove miscellaneous expenses such as the schooling of children or allowing a child to start earning his or her keep. Unionbank Chief Economist Ruben Carlo S. Asuncion told the BusinessMirror that crises would usually showcase the resilience of Filipinos. Households will always find ways to survive. Asuncion said, however, that this should not be used as an excuse to provide poor public services. The resilience of Filipino families should instead be “compensated” with excellent public service. But if all the possible miscellaneous expenses were removed, workarounds have been exhausted, and incomes were still not enough to buy basic needs, Oplas said reducing food consumption would be possible. “I think our opponent now is hunger because of the long recession. This is a bigger problem for Filipinos. This is why you see people willing to take the risk of getting Covid-19 just to earn and feed their family,” Oplas said. Continued on A4

Continued on A2

n JAPAN 0.4658 n UK 65.1851 n HK 6.1937 n CHINA 7.4315 n SINGAPORE 36.3693 n AUSTRALIA 36.7993 n EU 58.8366 n SAUDI ARABIA 12.8014

Source: BSP (January 5, 2021)

News BusinessMirror

A2 Wednesday, January 6, 2021

SC stops 5% franchise tax on Pogo gaming operations

By Joel R. San Juan

HE Supreme Court has enjoined the government from imposing a 5-percent franchise tax on the gross bets from gaming operations of Philippine offshore gaming operators (POGOs) as mandated by Republic Act 11494 or the Bayanihan 2 Law.

The temporary restraining order (TRO) was issued at Tuesday’s regular en banc session of the magistrates with a vote of 13-1. Specifically, the Court stopped the enforcement of Section 11 of Bayanihan 2, BIR Revenue Regulation 30-2020 and Memorandum Circulars 102-17 and 078-18 based on the petition filed by 14 foreign-based POGOs last December. Section 11 states that “five percent franchise tax on the gross bets or turnovers or the agreed predetermined minimum monthly

revenues from gaming operations, whichever is higher, earned by offshore gaming licensees, including gaming operators, gaming agent, service providers and gaming support providers.” Named respondents in the petition were Finance Secretary Carlos Dominguez and BIR Commissioner Caesar Dulay. The petitioners—all holders of offshore gaming licenses from the Philippine Amusement and Gaming Corp. (Pagcor)—described the provisions and administrative issuances as “pat-

ent violations of substantive due process and equal protection of the law, and are oppressive and offensive not only to the petitioners, but also to other foreign corporations who are subject to their provisions.” The Pagcor-issued offshore gaming license authorizes petitioners to offer online games of chance via the Internet using a network and software or program, exclusively to offshore authorized players, excluding Filipinos abroad. The petitioners pointed out that Bayanihan 2 was envisioned as a temporary relief measure apparently enacted to address the Covid-19 pandemic and raise funds for the purpose. “However, a closer examination would show that Sections 11 (f) and (g) of the Bayanihan 2 Law impose new taxes (in the guise of merely listing sources of funding) and are, therefore, an aberration because the entire law does not create or refer to the imposition of any new tax,” they noted. Counsel for petitioners lamented that for a mere opportu-

nity to operate, their clients would be “forced to pay the tax on their offshore income, even if the imposition is not constitutional.” The group also stressed that the law unfairly uses as “tax base” the totality of wagers made through POGOs even as these bets are made online outside the Philippines in violation of the territoriality principle of taxation. Moreover, by using “gross bets” as tax base, it will necessarily include money eventually paid out as winnings by the firms. “Since the tax base is the totality of the wagers made, without deducting or excluding the winnings or money paid out to patrons, what this means is that the petitioners are being made to pay tax even on money that does not flow to them as wealth or redound to their benefit, not to mention the fact that these are bets made offshore or outside of the Philippine taxing jurisdiction,” the petitioners said. Among the petitioners are Oriental Game Limited, Golden Dragon Empire Ltd., Riesling Capital Limited and 11 others.

Rate cut not likely as inflation hits 3.5% Continued from A1

BSP to adjust its main policy rate soon; however, Diokno did hint at a possible reduction to reserve requirements (RR) in the near term,” Mapa said. “We forecast inflation to remain at 3 percent for first-quarter 2021 with BSP likely keeping policy rates unchanged with Diokno possibly utilizing his provisional 200 bps reduction in RR by first quarter should fourth-quarter 2020 GDP disappoint,” he added. Looking ahead, Diokno said that while the overall balance of risks to future inflation continues to lean toward the downside, there

are emerging upside risks to watch out for. “Upside risks emanate from the possibility of an early rollout of Covid-19 vaccines in the Philippines, which is expected to ease the existing lockdown measures and expand further operating capacity of the economy,” Diokno said. “At the same time, a strongerthan-expected world economic recovery as the vaccine is increasingly deployed in key economies abroad could present upward price pressures on global oil and food prices,” he added.

ASF factor

MONETARY Board member and

former agriculture undersecretary V. Bruce J. Tolentino said African Swine Fever (ASF) consequences coupled by “import controls favoring local producers” contributed to higher meat prices in December. As for rising vegetable prices, Tolentino explained that this could be attributed to the “long-standing infrastructure and transport bottlenecks that have exacerbated the seasonal increased demand.” He added that supply disruptions caused by typhoons in the fourth quarter also contributed to the increase in vegetable prices. “These are the seasonal factors which could have been moderated by infrastructure. Note that

historically typhoon damage is concentrated in the last quarter of each year,” he told the BusinessMirror. “Do note that the source of the increased inflation in December is food—especially meats, fish and vegetables. Not rice—like in past years,” he added. Nonetheless, Tolentino said the Central Bank expects general stability in prices throughout this year “given the benign behaviors of oil and rice prices.” “Inflation will remain within the target 3 plus or minus 1 percent range,” Tolentino added. With Jasper Emmanuel Y. Arcalas

PhilHealth defers rate hike; UHC tweaks bill rushed Continued from A1

Duterte to look for resources

ON Monday evening, Duterte had said: “At this time of our life, may I just suggest to the PhilHealth chairman, Dante Gierran…not to increase for now [the premiums].” He said he will look for resources to augment PhilHealth’s existing funds until it can increase its premiums. “That is the job of the government, to make it easy for everybody,” Duterte said. Under the UHC Law, PhilHealth is mandated to raise its contribution from 3 percent to 3.5 percent this year. The Department of Health (DOH) earlier said the implementation of the said provision of the UHC Act can only be deferred through another legislation.

Velasco: Ready to review UHC

THE House of Representatives is ready to review the UHC Act as lawmakers filed a bill granting the President power to suspend the scheduled increases in premium rates of PhilHealth and a joint resolution deferring the implementation of the contribution hike, Speaker Lord Allan Velasco said on Tuesday. “[We are] ready to review the Universal Health Care Act and its Implementing Rules and Regulations, particularly the provisions on incremental premium rate hike for direct PhilHealth contributors,” said Velasco. Velasco said the House will also coordinate with the PhilHealth and DOH on the proposed

amendments. In 2019, Republic Act 11223 or the Universal Health Care Act (UHC Act) was enacted to institute reforms in the health-care sector and help ensure access to quality and affordable health care. From January to June 2020, the PhilHealth collected a total of P74.2 billion in premium contributions—P41.7 billion from direct contributors plus P32.5 billion from indirect contributors such as indigents whose premiums are paid for by the government. In 2019, the PhilHealth collected a total of P146.4 billion in premium contributions—P77.1 billion from direct contributors and P69.3 billion from indirect contributors. That year, PhilHealth paid a total of P97.3 billion in claims.

Low payment data

MARIKINA Rep. Stella Luz Quimbo said the UHC Law that provided for the premium hike, being enacted in 2019, could not have been crafted with a forethought of the Covid-19 pandemic that has battered the health-care sector and the people’s livelihoods in the past year. Quimbo said PhilHealth’s own projected collection rates for 2021 speak volumes, saying they expect only 10 percent of Individually Paying Program members to pay their premiums this year. The projected collection rate for overseas Filipino workers is lower at 4 percent. “This is a clear signal of members’ low willingness to pay the high premium rates,” she said. With this, Quimbo filed a bill amending Section 10 of the UHC Act

to grant the President the power to suspend the scheduled increases in premium rates provided it is in the interest of the public, such as with the ongoing national emergency. In such instances, she said the scheduled increase in a certain year will fall to the year following the lifting of the suspension. To date, the economist-lawmaker said PhilHealth has not made clear how it will utilize the P71 billion allocated for premium subsidies under the 2021 General Appropriations Act. “While this amount is similar to the budget allocated to PhilHealth in previous years, PhilHealth projects an overall deficit of P86 billion in 2021, suggesting significant leakages and calling into question PhilHealth’s management of its funds. To avoid any wastage of the people’s money, it may be prudent to address such issues prior to any further increases in PhilHealth funds through premium contributions,” she said.

Senators’ move

THE Senate is on track to pass an awaited remedial legislation to avert the imposition of higher premiums for members of PhilHealth and the Social Security System, senators assured on Tuesday. “I think so, especially with the pronouncement of President Duterte on PhilHealth contributions,” said Senator Joel Villanueva. “This is good news.” Villanueva added: “Similarly, we have called for the deferment of the increase of Social Security System premiums.”

The chairman of the Senate Committee on Labor, Employment and Human Resources Development noted that “we have yet to recover from the pandemic.” In a text message to the BusinessMirror, Villanueva reminded Palace officials “it is not timely to impose additional tax when everyone is still struggling to survive the recession.” Meanwhile, PhilHealth vowed to “closely work with both houses of Congress for the most viable whole-of-government and wholeof-nation solution pursuant to existing laws.” In a separate message to the BusinessMirror on Tuesday, PhilHealth spokesman Rey Baleña said they are expecting that the implementation of the scheduled premium contribution hike this year would yield an additional P13 billion from direct contributors. Baleña also earlier said in a radio interview on Sunday that suspending the scheduled premium contribution hike would make it difficult for them to sustain the benefit payments for its members in the long run. Budget Secretary Wendel E. Avisado also told the BusinessMirror on Tuesday they are still “studying the financial requirements and shortfall as well as the possible source of funds.” “The PhilHealth Board should be able to tackle it since it is a policy issue and what would be its fallback position on the matter,” he added. Samuel P. Medenilla, Bernadette D. Nicolas, Jovee Marie N. Dela Cruz and Butch Fernandez

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‘CONTRIBUTION HIKE DELAY TO HURT S.S.S. BID TO SERVE CLIENTS’ By Samuel P. Medenilla

HE Social Security System (SSS) expects to collect less than P43 billion worth of contributions—way below the payouts it must make—if its scheduled contribution hike this year is postponed. In an interview with PTV on Tuesday, SSS President and CEO Aurora C. Ignacio warned the deferment could hurt the long-term sustainability of their funds, especially since they expect to pay P231 billion worth of claims this year. She issued the statement amid calls from lawmakers and labor groups for the SSS to delay raising its contribution rate from 12 percent to 13 percent as mandated by Republic Act 11199 or the Social Security Act. On Monday, Senator Joel Villanueva said he has filed Senate Bill 1965 to postpone the rate hike. “If that will be passed into law and will be mandated by the President [to implement it], we will comply [with its provisions],” Ignacio said. But SSS is still pushing to continue implementing the higher contribution rate, since it will allow its members to save more for their retirement benefits.

Ongoing trend

BECAUSE of the economic slowdown caused by Covid-19, many workers were displaced or suffered a reduction in their income, prompting more of them to avail themselves of their SSS benefits. From January to October 2020, the SSS disbursed a total of P159.47 billion in social security and employees’ compensation benefits to 3.56 million members and beneficiaries. It also released loan benefits worth P58.03 billion for 3.20 million members, as well as P3.17 billion for 69,813 retiree-pensioners from January to November 2020. Meanwhile, the SSS was able to collect lower contributions last year also because of the economic effects of the pandemic. “SSS contribution collections from January to October 2020 totaled only P169.73 billion, or a decrease of 5.4 percent from the P179.34 billion collected in the same period last year [2019],” Ignacio said in a statement. She said the SSS was able to cope with the decline in its contribution though its “well-managed” investments. The number of SSS members who are availing of their benefits like calamity loans and unemployment benefits this year will be higher compared to that of 2020, according to Ignacio. In a statement, Ignacio said the SSS has been listening to the clamor of various labor groups and members to defer the said mandated increases; however, the move is designed to protect the fund life of the SSS. “We understand the plight of our covered employers and members, but, at the same time, it is our duty to secure the long-term viability of the SSS fund entrusted to us for the continuous delivery of SSS benefits to our current and future members, as well as their beneficiaries,” Ignacio said. “Moreover, these scheduled reforms are pursuant to Republic Act 11199 or the Social Security Act of 2018. Thus, we are bound by law to implement it,” she added. This January 2021, the SSS contribution rate was increased to 13 percent from the previous 12 percent. On the other hand, the minimum monthly salary credit (MSC) has been raised to P3,000 from P2,000 (except for Kasambahay and OFW members whose minimum MSC will remain at P1,000 and P8,000, respectively), while the maximum MSC is set at P25,000 from P20,000. For employed members, land-based OFW members in countries with Bilateral Labor Agreements (BLAs) with the Philippines, and sea-based OFW members, the additional 1 percent will be divided between them and their employers, bringing the contribution rate breakdown to 8.5 percent for employers and 4.5 percent for them. To illustrate, a member paying under the P10,000 MSC will now pay a monthly contribution of P1,300, which is P100 higher than the P1,200 in 2020. Suppose the member is employed as a land-based OFW in a country with a BLA with the Philippines or a sea-based OFW. In that case, the P100 additional contribution will be divided as P50 from their employers for a total employer share of P850 and P50 from them for a total member share of P450. While the MSC to be considered for the computation of benefits under the regular social security program is capped at P20,000, contributions pertaining to the MSC in excess of P20,000 will go to the Workers’ Investment and Savings Program (WISP), a provident fund that will yield additional pension income for members contributing under it. For example, a member will be paying under the P25,000 MSC. Based on the 13-percent contribution rate, his/her monthly contribution will be P3,250, of which P2,600 will go to the regular social security fund, while the remaining P650 will go to the WISP. The SSS said these reforms will allow members to save more for their retirement. The SSS remains the cheapest pension and most accessible pension scheme in the country that offers seven kinds of benefit programs and various loan privileges.

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Editor: Vittorio V. Vitug • Wednesday, January 6, 2021 A3

DOF boosts anti-graft drive with launch of new web site

By Bernadette D. Nicolas

@BNicolasBM

HE Department of Finance (DOF) has launched its anticorruption web site where the public can report officers and personnel of the department and its attached agencies like the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC) whose lifestyles may be “grossly disproportionate” to their incomes. In a news statement issued on Tuesday, the DOF said the “Information against Corruption Page” can be accessed under the Advocacies/Anti-Corruption menu of the DOF web site.

It said this is in support of the latest directive of President Duterte against graft and corruption. Under Executive Order 259, Series of 2003, the secretary of finance has the power to investigate infor-

mation against errant officials and personnel, submit the findings to the Office of the Ombudsman, and push for their criminal prosecution and dismissal from the service. According to the same EO, the power of the finance secretary to investigate corruption is exercised through a trusted undersecretary who supervises the RIPS, or Revenue Integrity Protection Service. Prior to the launch of the anticorruption web site, any information on suspected corruption is reported to DOF on a face-to-face basis. In the midst of the Covid-19 pandemic, the online tool allows the public to safely submit information directly to the DOF through their mobile devices. While DOF is not officially a part of the newly created Department of Justice Mega Task Force tasked to investigate graft, the DOF said it has always heeded the call of the President to curb corruption through its RIPS team.

In light of the memorandum of President Duterte directing the Department of Justice [DOJ] to investigate allegations of corruption in the entire bureaucracy, this department shall be pleased to extend its assistance which your department may need.

Finance Secretary Carlos G. Dominguez III Finance Secretary Carlos G. Dominguez III has informed Justice Secretary Menardo Guevarra about the RIPS anti-corruption team, which is mandated to detect, investigate and prevent corruption under the DOF, BIR, BOC, and all other DOF-attached agencies. “In light of the memorandum of President Duterte directing the Department of Justice [DOJ] to investigate allegations of corruption in

the entire bureaucracy, this department shall be pleased to extend its assistance which your department may need,” Dominguez said in his letter to Guevarra. “[The RIPS team] has the authority to gather evidence and file the appropriate criminal, civil or administrative complaints against government officials and employees in the said offices before the appropriate court, or administrative body and

actively assist in the prosecution of the cases,” Dominguez added. Dominguez also said the DOJ may coordinate with RIPS Executive Director Ray Gilberto Espinosa “to discuss how our respective departments can work together towards this effort.” Since assuming office, Undersecretary Bayani Agabin has been at the helm of the team assisted by Espinosa who was previously a prosecutor with the DOJ-National Prosecution Service (DOJ-NPS). Since July 2016, the RIPS has initiated investigations against 384 officials and employees of the DOF and its attached agencies. The RIPS was able to secure successful resolutions against 57 individuals charged before the Civil Service Commission (CSC) and the Office of the Ombudsman, 14 of whom were ordered dismissed from the service. The information against corruption page can be accessed using the URL https://www.dof.gov.ph/reportcorruption/.

Comelec registers addl 62K voters in last four months

HE Commission on Elections (Comelec) has registered an additional 62,000 voters for the last four months for the upcoming May 2022 national and local elections. From September 1 to December 18, 2020, Comelec spokesman James Jimenez said in his Twitter account that the number of their newly registered voters rose from 863,309 to 925,937. He said they hope these figures will breach

FILE photo taken before Covid-19 hit the country shows prospective voters trooping to a Commission on Elections registration center in Arroceros, Manila. NONIE REYES

DOH says saliva-based Covid testing a potential alternative By Claudeth Mocon-Ciriaco Correspondent

HE Department of Health (DOH) is recognizing the potential use of saliva as specimen for SARS-CoV-2 detection through RT-PCR after Sen. Richard J. Gordon, chairman and CEO of the Philippine Red Cross, urged the use of saliva test as an alternative for Covid-19 testing, which is faster and 99.9 percent reliable. Gordon also said that saliva test will reduce the cost of Covid-19 testing. Currently, the DOH said that nasopharyngeal (NPS) and oropharyngeal swab (OPS) are the recommended modes of specimen collection for the detection of Severe Acute Respiratory Coronavirus 2 (SARS-CoV-2). However, recently there has been growing evidence on the potential of saliva as an alternative specimen for Covid-19 testing. Hence, to be able to establish its effectiveness supported by local evidence, there are two ongoing local studies on its use as an alternative specimen for Covid-19 testing led by the Research Institute for Tropical Medicine and the other by Philippine Red Cross. To date, RITM has yet to conclude its study while PRC has yet to consider the recommendations of the DOH and Covid-19 Laboratory Expert Panel (CLEP) based on its initial results.

HTAC recommendation

ON Tuesday, Gordon said they are hoping that the Health Technology Assessment Council (HTAC) would soon make a recommendation to the DOH in connection with the PRC’s application to be allowed to conduct saliva test for Covid-19. “Health Technology Assessment Council ang nag-e-examine [is the one examining it], It’s taking them a long time, October 17 pa sinubmit ’yan at ginagamit na din ’yan sa ibang bansa [we submitted it on Ocotber 17 and other countries are also using it]. Over 1 million Covid testing has been done using that, at 99.9 percent…accuracy,” he said. HTAC is an independent advisory body created to provide guidance to the DOH and the Philippine Health Insurance Corp. (PhilHealth) on the coverage of health interventions and technologies to be funded by the government. It is also mandated to undertake technology appraisals by determining their clinical and economic values in the Philippine health-care system, with the aim to improve overall health outcomes and ensure fairness, equity, and sustainability of coverage for all Filipino citizens. Upon completion of both studies, results shall be assessed by the CLEP and the HTAC whose recommendations will help the DOH develop an evidence-based policy on the use of saliva as alternative specimen for Covid-19 testing.

Gordon further explained that the same machines used for RT-PCR testing would also be used without needing the nasal and pharyngeal swab that use test kits. He mentioned that the University of Illinois launched a Manhattan Project—style effort to create a cheaper, faster Covid test. After running a successful pilot of the saliva test during the early part of summer, the university conducted more than 1 million Covid tests during the recently completed fall semester. The alternative delivers a result within hours rather than days at a total cost of $20 per test and is 99.9 percent accurate on specificity.

Pooled testing

THE DOH recognizes specimen pooling strategies as an opportunity for greater Covid-19 testing efficiency by reducing turnaround time and saving on supplies. In line with this, the DOH issued Department Memorandum 2020 - 0539 providing interim guidelines on the conduct of Covid-19 pooled testing based on the pooling protocols set by the Philippine Society of Pathologists Inc., RITM and DOH. “Rest assured, the Department of Health will continue to support the conduct of studies and innovations that will help mitigate the spread of Covid-19 in our country,” the DOH assured.

the 1-million mark in the coming months as they intensify their voter registration promotion. “We still have a long way to go. #MagparehistroKa #DontSitThisOneOut,” Jimenez said. Comelec resumed its voter registration last Monday after being postponed during the Christmas holidays. The poll body earlier announced it is

anticipating another 4 million new voters who will be able to cast their votes in the 2022 elections. It attributed the still small turnout of registrants to quarantine protocols and minimum health standards due to the novel coronavirus disease (Covid-19). The deadline for the ongoing voter registration is on September 30, 2021. Samuel P. Medenilla

A4 Wednesday, January 6, 2021 • Editor: Vittorio V. Vitug

Economy BusinessMirror

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PHL rice inventory rises by 19.3 percent to 3.158 MMT in November–PSA data

By Jasper Emmanuel Y. Arcalas

@jearcalas

HE country’s rice inventory as of November 1 rose by 19.3 percent to a nearly four-year high of 3.158 million metric tons (MMT), latest Philippine Statistics Authority (PSA) data showed.

“This was an increase of 6.6 percent from previous year’s level of 2.962 [MMT]. Similarly, a growth of 19.3 percent was observed from the previous month’s inventory level of 2.647 MMT,” the PSA said in its monthly inventory report published recently. Historical PSA data showed that this is the highest monthly nationwide rice inventory in 42 months since the 3.214 MMT was recorded in May of 2017. The PSA said more than half of the total rice stocks during the reference period was held by households, while 30.5 percent were stored in commercial warehouses and the remaining 12.2 percent were in NFA warehouses. R ice stocks in households reached 1.809 MMT, while those in commercial warehouses and NFA depositories reached 963,520 MT and 385,620 MT respectively, PSA data showed. “The household stocks inventory level rose by 18.5 percent compared with the previous year’s level. However, stocks inventory level in commercial warehouses and NFA depositories dropped by

1.9 percent and 15.1 percent, respectively,” PSA said. “Month-on-month, rice stocks inventory level grew in all sectors. Increases were noted at 24.8 percent, 0.6 percent and 60.8 percent in the households, commercial warehouses, and NFA depositories, respectively,” the PSA added. Latest estimates by the Department of Agriculture (DA) indicated that the country’s rice output last year could range from 12.66 MMT to 12.779 MMT, which would allow the country to have a year-end stockpile that is sufficient for 85 to 88 days. Despite the series of typhoons that battered the farm sector, the country’s palay output last year was on track to reach a record high this year, based on latest PSA projections. PSA data indicated that the countr y would produce 19.44 MMT of palay by the end of 2020. While the agency adjusted downward its estimated production in the October-to-December period to 7.54 MMT, the volume is still higher than the 7.49 MMT produced last 2019.

@lorenzmarasigan

HE Maritime Industry Authority (Marina) stands by its policy on the phase out of wooden hulled ships, as it believes that it has provided operators ample time to modernize their ships. Admitting that the expiration of the certificates of public convenience (CPCs) of wooden hulled ships has caused a “temporary influx of pas-

sengers” in the Guimaras-Iloilo route, Marina said it will implement the said policy due to safety concerns. Marina, in 2016, issued Memorandum Circular 2016-02, which provides for the phase out of wooden hulled vessels. “The issuance of the aforementioned Marina Circular is imbued with public interest particularly in the promotion of maritime safety in domestic waters. Since the issuance of this policy in 2016, wooden hulled

TRADITIONAL ENTREPRENEURSHIP

Despite the presence of numerous shopping malls and prevalence of online shopping, small traders from nearby Luzon provinces continue to promote the sale of the country’s native handicraft products using the traditional method: Through an animal drawn cart. This photo was taken along Aurora Boulevard near Katipunan Avenue in Quezon City on Tuesday, January 5, 2021. PNA/JOEY O. RAZON

With the latest estimate, fullyear 2020 palay output could grow by 3.3 percent from 2019’s 18.814 MMT, historical PSA data showed. PSA data also showed that probable total output in 2020 may eclipse the record-high production of 19.276 MMT recorded in 2017. Earlier, the DA said the country’s rice self-sufficiency ratio (SSR) in 2020 may settle between 90 percent and 91 percent, below its ini-

tial target of 93 percent due to the impact of typhoons. The typhoons that struck the Philippines in recent months destroyed at least P12.3 billion worth of crops, including rice, according to government data. Nonetheless, the latest rice SSR estimate of the DA is higher than 2019’s nearly 80 percent, based on the latest PSA data. The DA has initially set a palay

production target of 20.34 MMT for 2020, or 8 percent more than the total harvest in 2019. Pundits noted that the government’s Rice Competitiveness Enhancement Fund (RCEF), as well as additional Covid-related interventions propped up this year’s palay production. For this year, the DA will shoot for another record as it has set a palay production target of 20.48 MMT.

ship operators have been given ample time to modernize their ships to plastic reinforced or fiber reinforced plastic boats,” Marina said. The full implementation of the policy has been extended several times to provide wooden hulled ship owners time to acquire new ships, or modernize their existing fleet altogether. “At the policy level, the transitory period for the grant of CPC to woodenhulled boats has been extended several

times already, and this practice should be put an end. A CPC for wooden-hulled ships is valid for five years, without extension,” Marina said. For now, Marina is “closely monitoring” the situation in Guimaras and has relaxed the schedule of trips of boats operating in Buenavista, Guimaras to Iloilo route. “Marina assures the public that it has taken necessary steps to ensure that passengers traveling this route have reached their port of destination

through the provision of available plastic reinforced or fiber reinforced plastic boats and Roro ships,” Marina said. Marina noted that it may provide wooden hulled ship owners incentives to be able to meet the requirements under the 2016 memo. “The Marina, in collaboration with industry stakeholders, will pursue incentive schemes for domestic ship owners so that they would be able to acquire modern ships to replace wooden-hulled boats,” Marina said.

Peaking prices hit Pinoys’ purchasing power in Dec. 2020 More forceful stimulus

PHILIPPINE Economic Society (PES) President Emilio S. Neri Jr. told the BusinessMirror that inflation erodes purchasing power and dampens consumer confidence. Neri said this means the fiscal stimulus of the government must be “more forceful” in order to have a more meaningful impact on Filipinos’ purchasing power. He said the government’s strategy which provided greater stimulus to support the monetary side of the economy is causing problems, particularly with the low interest rates. “Extremely low interest rates can lead to higher property prices and can pressure rental rates to rise, which is poor timing. More government guarantees on loans need to be given out too to help support companies, who in turn support their employees. Merely cutting policy rates won’t work as banks will not have enough confidence to lend,” Neri said. Nonetheless, Foundation for Economic Freedom (FEF) President Calixto V. Chikiamco said that in the case of the Philippines at this time, boosting consumption only means one

thing: removing fears of the pandemic. Chikiamco cited a need for greater mobility that allows more Filipinos to go to work and regain some normalcy, leading to higher consumption. Oplas supported this and said if the economy will become more open, Filipinos struggling with low or no incomes due to the lockdowns imposed to prevent Covid-19’s spread would be able to earn. If this will not happen, Oplas said, maybe going back to the province would be a better option. She said many of those who lost their work are surviving on what little they saved, but these savings are dwindling and getting back incomes is now a priority. “There are more resources in the province. [The cost of living is] cheaper and there is more access to food. That’s [also] good for rural areas. The lockdown in Metro Manila is driving rural development,” Oplas said.

ers to producers launched by the Department of Agriculture and the Department of Trade and Industry—will also help address issues on logistics. Besidesthepandemic,thecountryhasbeenfacing adverse weather conditions in recent months. Based on the latest climate monitoring of the Philippine Atmospheric, Geophysical and Astronomical Services Administration or Pagasa, the ongoing La Niña is likely to persist until March 2021. Chua also encouraged the continued use of climate-resilient varieties of seeds and technologies. “The imminent threat of natural calamities every year highlights the need for long-term solutions such as infrastructure investments that would improve flood control, water management and irrigation systems, reforestation, climateresilient production and processing facilities, among others,” Chua said.

Solutions and outlooks

MEANWHILE, economists such as Ateneo Center for Economic Research and Development (Acerd) Director Alvin P. Ang told the BusinessMirror that the increase in inflation in December may not necessarily be a bad thing. Ang said higher consumption which partly increased inflation may have softened the contraction of the economy to around 9 percent in the October to December 2020 period. He said this is still a good sign for the economy even if the increase in consumption was not as high as before. “Actually this is the situation, there was inflation and no deflation. This means people spent last Christmas and it could have softened the contraction of the fourth quarter,” Ang said. Asuncion expects inflation to remain elevated in the first few months of 2021, but sees this within

IN a statement, Acting Socioeconomic Planning Secretary Karl Kendrick T. Chua stressed the need to establish processing facilities to prevent wastage and spoilage of farm harvests, such as the Benguet Agri-Pinoy Trading Center in the Cordillera region where a large part of the country’s supply of vegetables is sourced. He underscored the need to set up additional cold storage facilities, warehouses and postharvest centers that will improve supply management in the agriculture sector, especially during natural disasters or when there is a surplus in harvest. Further, online platforms such as the various Kadiwa ni Ani at Kita modalities as well as the recently launched Deliver-E—a new digital platform that directly links buy-

By Cai U. Ordinario @caiordinario

Marina affirms policy to phase out wooden hulled vessels in domestic maritime routes By Lorenz S. Marasigan

Factory output contracts for 9 consecutive months in Nov

Not really a bad thing

target at 2.5 percent this year. He said demand will still remain weak because of Covid-19. It can also be noted that several countries have also reported a new strain of the virus which forced them to go on lockdowns.

Higher prices

IN December, Mapa said the major reasons for the increase in inflation was the food and nonalcoholic beverages segment which posted a 19.7-percent increase in December. More expensive vegetables like tomatoes and onions saw a 19.7-percent increase in prices; meat, 10 percent; and rice, 0.1 percent. Mapa noted that in terms of rice prices, this is the first time that prices increased in 19 months. It can be noted that the Rice Trade Liberalization (RTL), which took effect in March 2019, has been cited as the primary reason for the decline in rice prices. Transportation was also a major culprit, posting an inflation of 8.3 percent. This was particularly due to tricycle prices that rose 47.2 percent in December, and jeepney fares which rose 6.6 percent during the period. Restaurant and miscellaneous goods and services also increased prices at 2.5 percent, with meals registering a growth of 2.4 percent in December. “On the uptrend on the inflation, as I mentioned it is because of food and non-alcoholic beverages and the top 3 is of course meat such as pork, you have vegetables and fish. For meat prices, we all know that this is partly because of demand and the ASF [African swine fever] where we also have a supply problem,” Mapa explained, partly in Filipino.Inflation in Metro Manila, on the contrary, slowed down to 3.2 percent during the month, from 3.5 percent in November 2020. In December 2019, inflation in

continued from a1

the area was posted at 2.8 percent. In Areas Outside the National Capital Region (AONCR), inflation increased further to 3.7 percent in December 2020, from 3.3 percent in November 2020. Inflation in the area in December 2019 was observed at 2.4 percent. The annual average inflation in NCR eased to 2.2 percent in 2020, from 2.6 percent in 2019. The annual average inflation in AONCR went up to 2.7 percent in 2020, from 2.5 percent in 2019.

Bottom 30%

THE poorest 30 percent of Filipinos went up further to 4.3 percent in December 2020. In November 2020, it was posted at 3.6 percent, and in December 2019, 1.9 percent. Higher annual increment in the index of the heavily weighted food and non-alcoholic beverages at 3.6 percent primarily pushed up the overall inflation during the month. The country’s annual average inflation for the bottom 30 percent income households for the year 2020 picked up to 2.9 percent, from 2.4 percent in 2019. Meanwhile, inflation for the bottom 30 percent income households in NCR, however, eased to 5.5 percent in December 2020. Inflation in the area in November 2020 was 6.2 percent, and in the same month in 2019, 2.9 percent. Inflation for this particular income group of consumers in AONCR jumped further to 4.2 percent in December 2020. In the previous month, inflation in the area was observed at 3.6 percent and in December 2019, 1.9 percent. The annual average inflation in NCR accelerated to 3 percent in 2020, from 2.3 percent in 2019. The annual average inflation in AONCR went up by 2.9 percent in 2020, from 2.4 percent in 2019.

HE manufacturing industry’s average capacity utilization slowed for the second consecutive month in November 2020, according to the Philippine Statistics Authority (PSA). Based on the results of the Monthly Integrated Survey of Selected Industries (MISSI), the average capacity utilization rate was at 70.9 percent, the slowest since the 67.4 percent posted in August 2020. In September, the average capacity utilization rate jumped to 72.4 percent but slowed again to 71.8 percent in October. The slowest rate for the year was the 66.9 percent posted in July 2020. “Six of the 20 industry groups had at least 80-percent average capacity utilization rate which was led by machinery except electrical [91.7 percent], followed by electrical machinery [85.4 percent], and furniture and fixtures [84.4 percent],” PSA said. PSA noted that those operating at 90 percent to 100 percent capacity covered 55 establishments, or 20.1 percent of the total in November. There were a total of 274 establishments who responded to the MISSI in that month. Nearly a fourth of the establishments, or 23.7 percent, covering 65 firms operated at 70 percent to 79 percent. Those who operated at 50 percent to 59 percent covered the least number, or only 29 establishments representing 10.6 percent. Meanwhile, manufacturing output again registered a doubledigit contraction, recording its ninth consecutive month of decline in November 2020. PSA data showed the Volume of Production Index (VoPI) contracted 10.8 percent in November, the lowest since July when it contracted 13.6 percent. In August, September and October, the VoPI contracted in single-digits recorded at 9.2 percent, 7.8 percent, and 9.3 percent, respectively. “The downtrend in the VoPI for the sector was influenced by the two-digit decrements in the indices of 16 industry groups led by petroleum products [-61.9 percent], tobacco products [-58.6 percent] and printing [-51.5 percent],” PSA said. In terms of the Value of Production Index (VaPI), PSA data showed that it contracted 13.8 percent in November 2020. The PSA said the contraction in VaPI was faster than the reported a decrease in October at 12.3 percent and 7.2 percent in November 2019. The agency also stated that VaPI in November 2020 was the ninth consecutive month that it posted a negative growth rate in 2020. “Contributory to the faster annual decline of VaPI for the manufacturing sector in November 2020 were the decreases in the indices of 17 industry groups. Among these industry groups, the top 3 were petroleum products [-66 percent], tobacco products [-56.9 percent] and printing [-50.8 percent],” PSA said. MISSI is a report that monitors the production, net sales, inventories, and capacity utilization of selected manufacturing establishments to provide flash indicators on the performance of the manufacturing sector.

News BusinessMirror

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Wednesday, January 6, 2021 A5

DOLE chief: Prioritize OFWs, wage earners on vaccination list

By Samuel P. Medenilla @sam_medenilla & Claudeth Mocon-Ciriaco | Correspondent

inoculation. A portion of this amount will be used for the initial purchase of AstraZeneca’s allocated vaccine for Quezon City. QC Task Force on Covid-19 Head Joseph Juico said that the city is now finalizing its vaccination program guidelines and requirements such as vaccination centers, storage, transport, and mobilization. “The Task Force Vax to Normal is almost finished with all the needed systems for this vaccination program. All we need is the vaccine,” Juico said.

HE Department of Labor and Employment (DOLE) is now eyeing to include minimumwage earners and overseas Filipino workers (OFW) on the list of sectors to be prioritized in the government’s novel coronavirus disease (Covid-19) vaccination program.

Labor Secretary Silvestre H. Bello III said he had formally proposed to the Inter-Agency Task Force on the Management of Emerging Infectious Diseases (IATF) to include minimumwage earners to be among the first to be inoculated since they are responsible for a considerable portion of the country’s economic activities. “There are about 25 to 30 million minimum-wage earners. They are the movers of our economy so their health should be maintained to keep our economy moving,” Bello stressed. He added that OFWs also greatly help the economy through their dollar remittances. “OFWs are our modern day heroes so they should be treated as such,” Bello said. Currently, the labor chief disclosed OFWs are ranked at level 10, while workers are ranked at level 11 in terms of priority of being inoculated with the vaccine. Bello said he recommended to elevate the priority of OFWs in the list to level 5 or 6. Based from the list issued by the IATF, the following groups will be prioritized in the vaccination drive of the government, which is expected to start during the first half of the year. Also to be prioritized are government workers; essential workers, such as in the food, transportation, and tourism sectors; groups in higher-risk areas; OFWs; remaining work force; and students.

Metro LGU vaccination program RIGHT after the cities of Makati and Manila and San Juan announced that they have already set aside funds to procure Covid-19 vaccines for their

constituents, the Department of Health (DOH) urged local government units (LGUs) to work with them for an “effective distribution” and “unified effort” for the vaccination deployment implementation. Health Undersecretary Maria Rosario Vergeire said the emergency use authorization (EUA) only allows the national government to procure a vaccine approved by the Food and Drug Administration (FDA). “The vaccine will only be made available to the market if it has been given a certificate of product registration. The Phase 3 of the clinical trial is not finished yet, but there were exemptions because of the public health emergency. By saying that, we urge the local government units to work with us because we can pool the funds. The national government can procure and we can have an effective distribution system,” Vergeire said. She added that this is why they are asking the LGUs to work for a “unified effort” to “avoid technicalities” and efficient monitoring as well. “We have to remember that the national immunization program rests on the mandate of the Department of Health. So, hopefully the local governments will work with us. We can assure local governments that based on the prioritization list, they are included in the list based on the priority that was spelled out or [that was] officially decided already,” Vergeire stressed. “Try to work with us so that we can have a more effective vaccination deployment implementation,” she stated.

Makati

MAKATI Mayor Abigail Binay said

Taguig City

SAN Juan City Mayor Francis Zamora provides an update on the progress of the Covid-19 pre-vaccination registration for San Juan residents from the city’s database at the mayor’s office on Tuesday, January 5, 2021. NONOY LACZA

the city government has allocated P1 billion to purchase Covid-19 vaccines to ensure that all Makatizens are vaccinated for free. Binay said Makati City officials are coordinating with vaccine czar Carlito Galvez Jr. and the Covid-19 Inter-Agency Task Force (IATF) to finalize details of the purchase and mass vaccination. “This is our No. 1 priority for 2021. I want each and every Makatizen to receive both doses of the coronavirus vaccine for free to protect them and their families against the virus,” she said. She added, “We’ve seen the damage it can do both to human lives and our economy. After everything we’ve lost this year, we will do whatever it takes to protect our residents, employees, and our business community.” The mayor said she will ask the City Council to pass a supplemental budget as soon as the city gets the go-ahead from the IATF. “We will exhaust all means to get the much-needed vaccines early and have all Makatizens vaccinated. The city will also assist companies and businesses that would like to buy vaccines for their employees and workers. We are aiming for 100 percent vaccination in Makati,” she said.

No improvement in Manila Bay daily fish catch despite rehab, fisherfolk group says

WO years after the launch of “Battle for Manila Bay,” an ambitious program to rehabilitate Manila Bay, the fish catch of small fisherfolk who depend on the waters’ bounty for food and livelihood has not improved. This was stressed by the Pambansang Lakas ng Kilusang Mamamalakaya ng Pilipinas (Pamalakaya), saying fisherfolk across Manila Bay barely felt the effects of the rehabilitation. The group said that average fish catch in most of Manila Bay’s municipal fishing grounds remains at 2 to 5 kilos per fishing trip. “Fish catch suffer from interminable decline, an indication of an ever-polluted marine resources. The DENR has failed to address the primary causes of Manila Bay’s ecologi-

cal degradation. Instead, the head agency of the rehabilitation program resorts to a superficial solution such as dumping of synthetic white sands, or the dolomite,” Fernando Hicap, Pamalakaya national chairman said in a news statement. In January 2019, the DENR which was tasked by President Duterte to lead the Manila Bay Inter-Agency Task Force launched the P47-billion Battle for Manila Bay. The rehabilitation was anchored on the 2008 Supreme Court continuing mandamus to “cleanup, rehabilitate, and preserve Manila Bay, and restore and maintain its waters to SB level [Class B sea waters per Water Classification Tables under DENR Administrative Order 34 1990], to make them fit

for swimming, skin-diving, and other forms of contact recreation.” “Ecological disturbances continue to occur across Manila Bay, such as the decline of fish catch, loss of endemic fish species, and proliferation of alien species regarded as pests. Thus, we raise the question of the effectiveness of the government’s ongoing rehabilitation drive that costs billions of public funds,” Hicap, former Anakpawis Party-list said. The group scored the DENR for giving the “go signal” to reclamation projects that would cause massive destruction of Manila Bay’s resources such as mangroves, sea grasses, and aquaculture, and moreover, would entail displacement of fishing and coastal communities. Jonathan L. Mayuga

Binay added that preparations for online registration are under way to ensure safe and convenient access of Makatizens to free vaccination against Covid-19.

San Juan

MAYOR Francis Zamora, for his part, said the city has allocated P50 million to purchase vaccines. Zamora said City Hall is coordinating with the national government and talking to pharmaceutical companies to secure the vaccines. It will conduct a registration for those who want to avail of the free vaccine.

Manila

MAYOR Francisco “Isko Moreno” Domagoso has launched a web site for Manila residents to join the preregistration process for the free Covid vaccine. Domagoso said that the city government is allocating P250 million from the city’s 2021 budget. He also assured the public that the vaccine they will get are safe and effective, as certified by the Food and Drug Administration.

Quezon City

QC Mayor Joy Belmonte has ex-

pressed her gratitude to the City Council for the swift approval of the resolution authorizing her to enter into a tripartite agreement with the National Task Force Against Covid-19 and AstraZeneca Pharmaceuticals Philippines for the advance purchase of a Covid-19 vaccine. The resolution was introduced by Majority Floor Leader Councilor Franz Pumaren and passed on Tuesday afternoon by the council presided by Vice Mayor Gian Sotto. The City Council cited provisions of the Local Government Code which grants the city the power to promote the health and safety of QCitizens and protect them from the harmful effects of Covid-19. “With the council resolution, we will soon finalize the tripartite partnership and begin the process of prioritizing our most vulnerable citizens,” Belmonte said. The city government will prioritize its 10,000 health workers, 300,000 senior citizens, 20,000 adult persons with disabilities, and other priority sectors as recommended by the World Health Organization. As announced last December, the city has allocated an initial P1 billion in its 2021 budget to purchase vaccines and supplies needed for the

TAGUIG Mayor Lino Edgardo Cayetano on Tuesday said the city has rolled out a 2021 P13.5-billion “recovery budget,” which includes a P1-billion allotment for vaccination. “As early as September, we have already started planning for vaccination, it will complement our other ongoing anti-Covid programs like our aggressive mass testing and treatment,” said Cayetano stressing that they want to ensure every citizen has access to a free Covid-19 vaccine. He added the city wants to make sure that “testing continues throughout 2021; that our free testing in 30 health centers and two drive-through sites continue and we continue to invest in health care and treatment.” Taguig’s own molecular laboratory and disease surveillance units will also continue operations and will be funded in 2021 since disease surveillance is one of the most important aspects of preventing the spread of Covid and other infectious diseases even while the vaccine is being rolled out.

Mandaluyong City

MANDALUYONG City Mayor Carmelita Abalos said that they have allotted P200 million for the purchase of Covid-19 vaccine. “We will do everything that we can to make sure that every Mandaleño will get the vaccine,” Abalos assured in Filipino.

Pasay City

PASAY City Mayor Emi CalixtoRubiano assured residents of free Covid-19 vaccines with the initial allotment of P250 million. The mayor said they are targeting to initially inoculate approximately 275,000 persons.

PRC launches biggest cash grant distribution in Olongapo City

HE Philippine Red Cross (PRC), in partnership with the International Federation of Red Cross and Red Crescent Societies (IFRC), conducted cash distribution for 833 families in Olongapo City on January 2, 2021. PRC Chairman and CEO Sen. Richard J. Gordon led the cash distribution with PRC SecretaryGeneral Elizabeth Zavalla, SBMA Administrator Atty. Wilma Eisma, and other local government officials at the SBMA tennis court, Subic Bay Freeport Zone. The beneficiaries of the cash grant are pandemic-stricken residents of Barangays Gordon Heights, Asinan, and Mabayuan of the said city. “The Philippine Red Cross has been providing aid to the most vulnerable since the pandemic hit us. With 2021 now here, we extend

further help, with a bigger aid for the people affected by the coronavirus, especially the most vulnerable,” Gordon said. With PRC’s third visit to the prov-

ince, the humanitarian organization has provided a total of P3,612,000 cash assistance to families in Olongapo City that will be their resource to jump-start their livelihood.

Law allowing President to rush permits during national calamities approved

VEN if the Bayanihan to Recover as One Act (Bayanihan 2) expires, President Duterte can now cut government red tape during calamities. This, after Duterte finally signed Republic Act (RA) 115171, or the Act Authorizing the President to Expedite the Processing and Issuance of National and Local Permits, Licenses, and Certifications during Times of National Emergency.

During an emergency, the President will be allowed to accelerate and streamline regulatory processes; suspend or waive requirements; and prescribe permanent reforms and regulatory processes. However, such powers can only be exercised by the President as long as they are consistent with existing laws and regulations. Government officials and employees, who fail to comply with the

provisions of RA 115171 can face suspension, or even dismissal from the service. The legislation will apply to 33 government agencies as well as local government units (LGU). Among the agencies, which will be covered by RA 115171 are the Department of Finance, Bureau of Internal Revenue (BIR), Bureau of Customs, Department of Environment and Natural Resources, Na-

tional Water Resources Board, Environment Management Bureau, Land Management Bureau, Department of Justice, Land Registration Authority and the Bureau of Immigration. Also included in the list are Department of Transportation, Land Transportation Franchising and Regulatory Board, Land Transportation Office, Civil Aviation Authority of the Philippines, Philippine Ports Authority, Maritime Industry Au-

thority, Department of Social Welfare and Development, National Commission on Indigenous Peoples, Department of the Interior and Local Government, Bureau of Fire Protection, Department of Health, Philippine Health Insurance Corp. and Food and Drug Administration. The remaining government agencies covered by the new law are the Department of Information and Communications Technology, National

Telecommunication Commission, Department of Agriculture, Bureau of Fisheries and Aquatic Resources, Department of Energy, Energy Regulatory Commission, Department of Labor and Employment, Department of Human Settlements and Urban Development, Home Development Mutual Fund, Human Settlements Adjudication Commission, Social Security System, and the Government Service Insurance System. Samuel P. Medenilla

A6 Wednesday, January 6, 2021

News

BusinessMirror

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DOT eyes tougher sanctions on hotel-violators; City Garden under fire for flight attendant’s death

By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

HE Department of Tourism (DOT) will review its penalties on accredited accommodation establishments in the light of the rising number of violators of existing laws, as well as regulations issued by the government agency during the pandemic—the latest apparent violation leading to the shocking rape-slay of a flight attendant who checked in for a New Year’s Eve party.

DOT Undersecretary for Legal Affairs Edwin Enrile told the BusinessMirror, “The DOT looks mostly on the administrative aspect [of accommodation establishments], so the gravest penalty we can impose is cancellation of accreditation. This does not preclude of course criminal and civil aspects of any violation, which is beyond the jurisdiction of DOT; that is with the DOJ [Department of Justice] and the courts.” He added, “It’s only under the time of Secretary Berna [Romulo Puyat] that the DOT’s regulatory function is being emphasized, so we are also looking to review the scale of penalties (fine, suspension, cancellation) on violators…. I think it’s already within our authority, but if it’s still necessary, we can also recommend revisions in the Tourism Act of 2009 (Republic Act 9393).”

Show-cause order

This developed as DOT-National Capital Region Regional Director Woodrow C. Maquiling Jr. issued a show-cause order to City Garden Grand Hotel in Makati City on January 5, 2021, directing them to submit “within three days from receipt of this show-cause order a written explanation why your DOT Accreditation should not be suspended or revoked for violation of the foregoing issuances.” The show-cause order was addressed to the general manager Richard Reazon, and was issued after Philippine Airlines (PAL) Express flight attendant Christine Angela Dacera was found dead in a guest

room after a New Year’s Eve party with friends. “We understand based on reports that several individuals [had] checked in or spent the evening in one of your rooms on the said date (Dec. 31, 2020),” according to Maquiling’s letter. Under the agency’s regulations, hotels in general community quarantine areas are not allowed to accept guests for leisure purposes, while those accredited as quarantine hotels should not accept staycation guests. The hotel, which is accredited as a stringent quarantine facility by the Bureau of Quarantine, is part of the hotel group that includes City Garden and Lotus Garden Hotels that are owned by businesswoman Jeanette Lim Macasieb.

PAL statement

It was only last December 28 that DOT reiterated the penalties on quarantine hotels being used for staycation and other purposes, after recording a rising number of violations. (See, “DOT records rising number of quarantine hotels violating terms of accreditation,” in the BusinessMirror, December 30, 2020.) Fines on violators range from P1,000 (first-time offenders) to P100,000 (thirdtime offenders, including the revocation or cancellation of DOT accreditation. Meanwhile, PAL Express said in a news statement it mourned the “tragic death” of Dacera. “She was an upstanding and professional PAL Express crew member who will be sorely missed by her colleagues and friends.” The airline added that it is extending

its “full support to the flight attendant’s family at this most difficult time. Our desire is for the truth to come out in the interest of justice.”

Travel alert order

The Department of Justice, meanwhile, is set to issue a travel alert order against the individuals being linked to Dacera’s death. Justice Secretary Menardo Guevarra said the DOJ would wait for the formal filing of a complaint for alleged rapeslay of Dacera against the 11 persons who were with her in the hotel to celebrate the New Year before ordering the Bureau of Immigration to issue a travel alert order. Three of the suspects are now in police custody while the others have remained at large. A complaint for rape with homicide before the Makati City Prosecutor’s Office has been filed by the Philippine National Police (PNP) while the others have remained at-large. The 23-year-old Dacera was found unconscious at a bathtub of a hotel room and was rushed to the hospital where she was declared dead upon arrival. “As soon as the police file a complaint with the Prosecutor’s Office, we may issue a travel alert order to the BI,” Guevarra said. Guevarra also said that for the meantime he would not order the NBI to conduct a separate probe, and instead leave the investigation in the hands of the PNP. “For now we’ll let the PNP handle the case,” he added. With Joel R. San Juan

Organic farmer-exporters get more perks in new law L

ONG WTIME organic farmers, specifically those who export their products, will get additional incentives under the new law signed by President Duterte. Under Republic Act 11511 or the Act Amending the Organic Agriculture Act of 2010, certified small farmers/fisherfolk, who are organic input producers and compliant with government regulations for at least five years and free from any infraction will have their international certification fully subsidized by the government for a year.

The said farmers and fisherfolks will also be invited and given, for free, prime location in any government agencyinitiated or sponsored trade and business marketing gathering of Filipino products. Likewise, the new law also relaxed sanctions for those who will mislabel their products as organic by including a low degree of penalty. A first offense related to mislabeling will be given a written warning, while a second offense can draw a suspension of their accreditation.

Presidential spokesperson Harr y Roque cited other salient points of the new law: it raises the possible earnings of farmers engaged in organic farming or fishing; and includes food self sufficiency in the declaration of policy of RA 11511. The new law was signed by Duterte on December 23, 2020, but it was only released to the media on Tuesday. It will take effect 15 days after being published in at least two newspapers of general circulation or in the Official Gazette. Samuel P. Medenilla

PSG spared, but NBI, senators’ vaccine probe seen to go on Continued from A12

“But to investigate in aid of legislation is also a valid exercise of legislative power. There is no preventing Congress from eliciting information in aid of legislation from other resource persons. Congress can exact information on matters that can help it craft better legislation,” Drilon added. Earlier, Senate President Vicente Sotto III, in confirming plans to convene the Senate as a Committee of the Whole on the issue, had already signalled that summoning the PSG was not a priority, since the original scope of the inquiry was focused on drawing out the vaccine rollout roadmap of the Executive, as sought in a privilege speech by Sen. Kiko Pangilinan. The issue of the unsanctioned PSG immunization cropped up after Pangilinan’s speech was tabled for a Committee of the Whole inquiry because Duterte himself revealed the matter. In his address to the public on Monday night, Duterte said summoning the PSG would not serve any purpose in aid of legislation, and chided lawmakers for planning to call them.

Drilon, early Tuesday, laid down the basis for inquiring into the circumstances of the PSG inoculation by saying: “The Senate should continue with the hearing especially in the light of the revelation that 100,000 POGO workers were inoculated in the country. That is illegal.” The minority leader said the senators can elicit information they need from other sources without calling the PSG. “In aid of legislation, the Senate must elicit information from other sources on how to strengthen the FDA and Bureau of Customs to prevent similar episodes in the future,” Drilon added.

Order to Durante: Snub summons

In his public address late Monday evening, Duterte ordered PSG commander Jesus Durante to ignore the summons of the lawmakers regarding the said issue. “I think I will tell Durante now. He is here. Durante, do not obey the summons. I am ordering you to stay put in the barracks,” Duterte said. This, after Presidential spokesperson Harry Roque said earlier that PSG will cooperate in investigations related on the use of unregistered vaccine.

Duterte warned there will be a “little crisis” if Congress will cite Durante in contempt from following his orders and detain him in its premises. “I will not allow it. I will personally go to Congress and I will get them,” Duterte said. “I am prepared to defend my soldiers. I will not allow them to be brutalized in [Congressional] hearings,” he added. Last week, several other high ranking officials admitted PSG used Covid-19 vaccine, which are still unregistered with FDA. Currently, FDA has yet to issue any emergency use authorization (EUA) to any Covid-19 vaccine manufacturer, which would allowed the mass local use of their products. FDA director general Eric Domingo explained they could have issued a “compassionate special permit” to PSG, which would have allowed them to use Covid-19 vaccine even if they have yet to approve any EUA. But he noted the special permit will only be good for small quantities of vaccine, which are good for a small group of people. Joel R. San Juan, Samuel P. Medenilla and Butch Fernandez

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ESTABLISHMENT / ADDRESS NO.

FOREIGN NATIONAL / NATIONALITY

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8 STONE BUSINESS OUTSOURCING OPC 5th-10th/f Tower 3, Pitx #1 Kennedy Road Tambo Parañaque City

NO.

Wednesday, January 6, 2021

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29.

CHANG, SHIYING Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

ESTABLISHMENT / ADDRESS

FOREIGN NATIONAL / NATIONALITY

POSITION

NO.

FOREIGN NATIONAL / NATIONALITY

POSITION

65.

LIU, MEIHUA Chinese

CHINESE SPEAKING CUSTOMER SERVICE STAFF

100.

ZHANG, LING Chinese

CHINESE IT SUPPORT SPECIALIST

CHI, WEIMING Chinese

CUSTOMER SERVICE REPRESENTATIVE

30.

CHEN, JING Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

66.

NIU, CHAOXIANG Chinese

CHINESE SPEAKING CUSTOMER SERVICE STAFF

101.

BUI LY THIEN AN Vietnamese

IT SUPPORT SPECIALIST

YANG, SIQI Chinese

CUSTOMER SERVICE REPRESENTATIVE

31.

DU, DAIGUO Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

67.

PENG, HONGKUN Chinese

CHINESE SPEAKING CUSTOMER SERVICE STAFF

102.

CHANG, YI-LING Taiwanese

IT SUPPORT SPECIALIST

YIN, FEI Chinese

CUSTOMER SERVICE REPRESENTATIVE

32.

DUAN, ENLIANG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

68.

SU, XIAOYAN Chinese

CHINESE SPEAKING CUSTOMER SERVICE STAFF

103.

CHAU TRUC THAO Vietnamese

IT SUPPORT SPECIALIST

33.

GUO, ZHIMING Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

69.

WANG, QIAN Chinese

CHINESE SPEAKING CUSTOMER SERVICE STAFF

104.

DESY SUSANTI Indonesian

IT SUPPORT SPECIALIST

34.

GUO, ZIFAN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

70.

WANG, XIAOQUN Chinese

CHINESE SPEAKING CUSTOMER SERVICE STAFF

105.

LAU BAC SINH Vietnamese

IT SUPPORT SPECIALIST

35.

HUANG, HAIQING Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

71.

WEI, ENMEI Chinese

CHINESE SPEAKING CUSTOMER SERVICE STAFF

106.

LE THI DAO Vietnamese

IT SUPPORT SPECIALIST

36.

LI, CHANGYOU Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

72.

YANG, WENMIN Chinese

CHINESE SPEAKING CUSTOMER SERVICE STAFF

107.

LIM BOON KIN Malaysian

IT SUPPORT SPECIALIST

37.

PAN, WEI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

73.

YU, SUO Chinese

CHINESE SPEAKING CUSTOMER SERVICE STAFF

108.

NGUYEN MY DUNG Vietnamese

IT SUPPORT SPECIALIST

38.

TU, QIAO Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

74.

ZHOU, LINGYUE Chinese

CHINESE SPEAKING CUSTOMER SERVICE STAFF

109.

NGUYEN THI PHUONG DIEM Vietnamese

IT SUPPORT SPECIALIST

39.

TU, RUBING Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

MOVING UP SERVICES INC. 2oth Floor One Global Place, 5th Avenue, Cor. 25th Street Bonifacio Global City Taguig City

110.

NGUYEN THI VAN ANH Vietnamese

IT SUPPORT SPECIALIST

40.

YUAN, JIACUI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

111.

ROSDIANA Indonesian

IT SUPPORT SPECIALIST

41.

ZENG, YANG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

112.

TRAN THI THOA Vietnamese

IT SUPPORT SPECIALIST

42.

ZHANG, XIAOWEI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

43.

ZHAO, LIANG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

AMAZON OPERATION SERVICES PHILIPPINES, INC. B21 Three E-com Moa Complex Harbour Drive Cor. Bay Shore Brgy. 076 Pasay City 4.

LI, XINJIAN Chinese

INVESTIGATION SPECIALIST I

APPTECHURE CORP. Units A&b 20/f Rufino Pacific Tower 6784 Ayala Ave. Cor. V.a. Rufino St. San Lorenzo Makati City 5.

YIN, YALING Chinese

MANDARIN SERVICE DESK ANALYST

BAUER FOUNDATIONS PHILIPPINES, INC. Unit A To K 12/f Cyberone Bldg. 11 Eastwood Ave., Eastwood City Cyberpark Bagumbayan 3 Quezon City 6.

KHAN, AMIR ALAM Indian

CHIEF MECHANIC

BAUER FOUNDATIONS PHILIPPINES, INC. Unit A To K 12/f Cyberone Bldg. 11 Eastwood Ave., Eastwood City Cyberpark Bagumbayan 3 Quezon City 7.

KHAN, AMIR ALAM Indian

CHIEF MECHANIC

RENEMA, HARMEN ANDRIES Dutch

BIG EMPEROR TECHNOLOGY CORP. 5f-13f, Jiaxing Tower Building Aseana Avenue, Aseana Business Park Tambo Parañaque City 9.

SOON WAI THENG Malaysian

COMPUTER SYSTEM ANALYST

10.

YAN, XINGLIANG Chinese

CAPSLOCK INC. 7th & 8th Flr. Y Tower Bldg. Coral Way Drive Cor. Macapagal Brgy. 076 Pasay City 11.

FAN, WEI Chinese

CHINESE IT SUPPORT SPECIALIST

12.

HE, ZHENHUA Chinese

CHINESE IT SUPPORT SPECIALIST

13.

LIU, HONGHONG Chinese

CHINESE IT SUPPORT SPECIALIST

14.

XU, SHUAIBING Chinese

CHINESE IT SUPPORT SPECIALIST

15.

WU, KUAN-TE Taiwanese

IT SUPPORT SPECIALIST

DA SUCCESS BUSINESS TRADING INCORPORATED Unit 25d 2/f Zeta Ii Bldg. 191 Salcedo St. San Lorenzo Makati City 16.

LIU, YANG Chinese

MANDARIN SALES AND MARKETING ASSOCIATE

17.

YANG, YOUJIANG Chinese

MANDARIN SALES AND MARKETING ASSOCIATE

18.

YU, GENGXIONG Chinese

MANDARIN SALES AND MARKETING ASSOCIATE

19.

CHEN, QING Chinese

MANDARIN SPEAKING MARKETING MANAGER

DENSO PHILIPPINES CORPORATION 9/f & 10/f Filinvest One Northgate Cyberzone Filinvest City Alabang Muntinlupa City 20.

TAGUCHI, AKIHIRO Japanese

GENERAL MANAGER - DESIGN ENGINEERING DEPARTMENT

21.

YAMAMOTO, YOSHIYUKI Japanese

GENERAL MANAGER - DESIGN ENGINEERING DEPARTMENT

ONO, HIROYUKI Japanese

MANAGER - DESIGN ENGINEERING DEPARTMENT

22.

DIGICHROM INC. Unit 2602 & 2603 26/f Pbcom Tower 6795 Ayala Ave. Bel-air Makati City 23.

LY NU Vietnamese

MANDARIN COLLECTION OFFICER

EASTERN GOLD CORPORATION 503 Nueva St Binondo Manila 24.

WANG, ZHIKANG Chinese

25.

MATHUR, ANCHIT Indian

MARKETING AND SALES AGENT QA ASSOCIATE

FINSTAD INC. 2/f Smpc Bldg. 1747 Remigio St., 032 Bgy. 319 Santa Cruz Manila 26.

TIWARI, SHYAMNANDAN Indian

TECHNICAL SALES CONSULTANT

FIRST GREAT COMPUTER TECHNOLOGIES INC. Lot 5 Sta. Agueda Cor. Queensway Pagcor Drive Sto. Niño Parañaque City 27.

ZHANG, WEI Chinese

IT TECHNICAL MANDARIN

FLYING DRAGON NETWORK PHILIPPINES INC. 4th-11th Floor Aseana 3 Building Aseana Avenue Corner Diosdado Macapagal Tambo Parañaque City 28.

CAO, ZONGFU Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

INVECH TREASURE PROCESSING CORPORATION Ground, 2nd, 3rd, 4th, 5th Floor Six West Campus Mckinley West Fort Bonifacio Taguig City 44. 45. 46.

LUO, LIJUN Chinese

I. T TECHNICAL MANDARIN

WANG, ZHIHAO Chinese

I. T TECHNICAL MANDARIN

WU, KAIJIE Chinese

I. T TECHNICAL MANDARIN

75.

TSUKREL, LEEAD ITZHAK (LEEAD) Israeli

MARKETING CONSULTANT

76.

KAPLAN, BLAKE ELIZABETH American

OPERATIONS CONSULTANT

PACIFIC SEA BPO SERVICES, INC. 16/f Pbcom Tower 6795 Ayala Ave. Cor. V.a. Rufino St. Bel-air Makati City 77.

47.

LUO, KEKE Chinese

CHINESE IT SUPPORT SPECIALIST

48.

ZHANG, LONG Chinese

CHINESE IT SUPPORT SPECIALIST

49.

ZHANG, CHUNHUAN Chinese

CHINESE IT SUPPORT SPECIALIST

50.

ZHONG, YU Chinese

CHINESE IT SUPPORT SPECIALIST

51.

CHAN SIANG LIN Malaysian

IT SUPPORT SPECIALIST

52.

LONG SAU KHIN Vietnamese

IT SUPPORT SPECIALIST

JAYA GUNA LANCAR (JGL) INC. Level 10-1 One Global Place 5th Ave. & 25th St. Bgc Fort Bonifacio Taguig City

DATA ANALYST OFFICER

PHILIPPINE INFRADEV HOLDINGS INC. Unit 35-b 35/f Rufino Pacific Tower 6784 Ayala Ave. San Lorenzo Makati City 78.

ITECHNO SPECIALIST INC. 9/f 100 West Building Sen. Gil Puyat Ave. Pio Del Pilar Makati City

TYAGI, SHWETA Indian

HAO, FUYIN Chinese

INTERNATIONAL FINANCIAL CONSULTANT

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

TIGER RESORT, LEISURE AND ENTERTAINMENT, INC. Okada Manila, New Seaside Drive Entertainment City Barangay Tambo Parañaque City 113.

TAN CHUI LAN a.k.a. CHEN CUILAN Singaporean

DIRECTOR OF CREDIT COLLECTIONS

W.E.W RESOURCE MANAGEMENT, INC. 50/f Pbcom Tower 6795 Ayala Ave. Cor. V.a. Rufino St. Bel-air Makati City 114.

BUI THI HUE Vietnamese

MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE

115.

NGUYEN TRAN KHANH LINH Vietnamese

MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE

79.

LIANG, XIAOLONG Chinese

CUSTOMER SERVICE REPRESENTATIVE

116.

PHAM THI NGAN Vietnamese

MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE

80.

YANG, ZHI Chinese

CUSTOMER SERVICE REPRESENTATIVE

117.

TRAN THI THANH HUYEN Vietnamese

MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE

118.

YIN, QITAO Chinese

MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE

SUMITOMO CORPORATION OF THE PHILIPPINES 35/f Philamlife Tower 8767 Paseo De Roxas St. Bel-air Makati City 81.

FUKAO, JUN Japanese

DEPUTY PROJECT MANAGER

THIRTY ONE DIGITAL MEDIA SOLUTIONS INC. 8-m Cyberzone Plaza Bldg. Eastwood Avenue Bagumbayan 3 Quezon City 82.

CHANG HOC VAN Vietnamese

IT SUPPORT

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

WISHLAND SOFTWARE TECHNOLOGY INC. 28/f Techzone Condo Corp. 213 Buendia Ave. San Antonio Makati City 119.

GUO, HAOJIE Chinese

CHINESE LANGUAGE CUSTOMER SERVICE STAFF

120.

LUO, QIANGHUI Chinese

CHINESE LANGUAGE CUSTOMER SERVICE STAFF

121.

NIE, BOCHENG Chinese

CHINESE LANGUAGE CUSTOMER SERVICE STAFF

83.

CAI, WEICHEN Chinese

CHINESE IT SUPPORT SPECIALIST

122.

XIANG, KAI Chinese

CHINESE LANGUAGE CUSTOMER SERVICE STAFF

53.

DAI, HONGMEI Chinese

CHINESE SPEAKING - QUALITY SURVEY

84.

CHEN, XINGPENG Chinese

CHINESE IT SUPPORT SPECIALIST

123.

ZHENG, BIN Chinese

CHINESE LANGUAGE CUSTOMER SERVICE STAFF

54.

GUNAWAN LAUW Indonesian

INDONESIAN SPEAKING QUALITY SURVEY

85.

CUI, YUANLIN Chinese

CHINESE IT SUPPORT SPECIALIST

124.

MAI HUYEN TRANG Vietnamese

VIETNAMESE LANGUAGE MARKETING STAFF

86.

DENG, GUOTING Chinese

CHINESE IT SUPPORT SPECIALIST

125.

NONG THI THUY HA Vietnamese

VIETNAMESE LANGUAGE MARKETING STAFF

87.

FAN, MEILING Chinese

CHINESE IT SUPPORT SPECIALIST

126.

TRUONG DUC HAI Vietnamese

VIETNAMESE LANGUAGE MARKETING STAFF

88.

FAN, ZEMING Chinese

CHINESE IT SUPPORT SPECIALIST

89.

FU, XIAOZHAO Chinese

CHINESE IT SUPPORT SPECIALIST

90.

HUANG, ZHIQI Chinese

CHINESE IT SUPPORT SPECIALIST

91.

LI, CAICHENG Chinese

CHINESE IT SUPPORT SPECIALIST

92.

LIU, GENJIAN Chinese

CHINESE IT SUPPORT SPECIALIST CHINESE IT SUPPORT SPECIALIST

JINDINGYUAN BUSINESS SUPPORT, INC. 3-9/f Filinvest Cyberzone Bldg. A, Bay City Brgy. 076 Pasay City 55.

MA, CHUNSHENG Chinese

CUSTOMER SERVICE REPRESENTATIVE

LOGICALSOURCE1 CALL CENTER INC. 8/f Sultan Cityland Central Brgy. Highway Hills Mandaluyong City 56.

LUONG THI LIEM Vietnamese

CUSTOMER SERVICE REPRESENTATIVE

57.

TAN WEI CHING Malaysian

CUSTOMER SERVICE REPRESENTATIVE

MARKETROLE ASIA PACIFIC SERVICES, INC. 26/f, 27/f, 28/f The Enterprise Center Tower 1 6766 Ayala Ave. Cor. Paseo De Roxas San Lorenzo Makati City 58.

CHE, RONGWEI Chinese

CHINESE SPEAKING CUSTOMER SERVICE STAFF

93.

LU, FENGLIANG Chinese

59.

CHEN, LI Chinese

CHINESE SPEAKING CUSTOMER SERVICE STAFF

94.

MA, LANGJIAN Chinese

CHINESE IT SUPPORT SPECIALIST

60.

HAN, TING Chinese

CHINESE SPEAKING CUSTOMER SERVICE STAFF

95.

WANG, SHIJIANG Chinese

CHINESE IT SUPPORT SPECIALIST

61.

HOU, KAI Chinese

CHINESE SPEAKING CUSTOMER SERVICE STAFF

96.

WANG, DONGWEI Chinese

CHINESE IT SUPPORT SPECIALIST

62.

HUANG, JUNXI Chinese

CHINESE SPEAKING CUSTOMER SERVICE STAFF

97.

XIAN, YUANYUAN Chinese

CHINESE IT SUPPORT SPECIALIST

63.

JIANG, WEN Chinese

CHINESE SPEAKING CUSTOMER SERVICE STAFF

98.

YE, ZHIJING Chinese

CHINESE IT SUPPORT SPECIALIST

64.

LIANG, ZHANTU Chinese

CHINESE SPEAKING CUSTOMER SERVICE STAFF

99.

ZHANG, HAN Chinese

CHINESE IT SUPPORT SPECIALIST

WUHAN FIBERHOME INTERNATIONAL TECHNOLOGIES PHILS., INC. U-19d 19/f Rufino Pacific Tower 6784 Ayala Ave. Cor. V.a. Rufino St. San Lorenzo Makati City 127.

LIAO, XINQIANG Chinese

PROJECT MANAGER *Date Generated: Jan 5, 2021

In the ad material of Notice of Filing of Application for Alien Employment Permits published on December 29, 2020, the position of XU, KAI under SOMI UNLIMITED SOLUTIONS, INC., should have been read as CHINESE CUSTOMER SERVICE REPRESENTATIVE and not as published. In the ad material of Notice of Filing of Application for Alien Employment Permits published on December 29, 2020, the position of LI, YANLING under FUXINGYING CAIYUN HENTONG, CORP., should have been read as CUSTOMER SERVICE REPRESENTATIVE-MANDARIN SPEAKING and not as published. Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at DOLE-NCR Regional Office located at DOLE-NCR Building, 967 Maligaya St., Malate Manila, within 30 days after this publication. Please inform DOLE-NCR if you have any information on criminal offense committed by the foreign nationals.

ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

Wednesday, January 6, 2021

The World BusinessMirror

UK prime minister orders new national lockdown for England

ONDON—Prime Minister Boris Johnson announced on Monday a new national lockdown for England until at least mid-February to combat a fast-spreading new variant of the coronavirus, even as Britain ramped up its vaccination program by becoming the first nation to start using the shot developed by Oxford University and drugmaker AstraZeneca.

In this image taken from video, Britain’s Prime Minister Boris Johnson makes a televised address to the nation from 10 Downing Street, London on January 4, setting out new emergency measures to control the spread of coronavirus in England. Pool via AP

Johnson said people must stay at home again, as they were ordered to do so in the first wave of the pandemic in March, this time because the new virus variant was spreading in a “frustrating and alarming” way. “As I speak to you tonight, our hospitals are under more pressure from Covid than at any time since the start of the pandemic,” he said in a televised address. From Tuesday, primary and secondary schools and colleges will be closed for face to face learning except for the children of key workers and vulnerable pupils. University students will not be returning until at least mid-February. People were told to work from home unless it’s impossible to do so, and leave home only for essential trips. All nonessential shops and personal care services like hairdressers will be closed, and restaurants can only operate takeout services. As of Monday, there were 26,626 Covid-19 patients in hospitals in England, an increase of more than 30 percent from a week ago. That is 40 percent above the highest level of the first wave in the spring. Large areas of England were already under tight restrictions as officials try to control an alarming surge in coronavirus cases in recent weeks, blamed on a new variant of Covid-19 that is more contagious than existing variants. Authorities have recorded more than 50,000 new infections daily since passing that milestone for the first time on Dec. 29. On Monday, they reported 407 virus-related deaths to push the confirmed death toll total to 75,431,

goal was that by mid-February, some 13 million people in the top priority groups—care home residents, all those over 70 years old, frontline health and social workers, and those deemed extremely clinically vulnerable—will be vaccinated, he said. Brian Pinker, an 82-year-old dialysis patient, received the first Oxford-AstraZeneca shot early Monday at Oxford University Hospital. “The nurses, doctors and staff today have all been brilliant, and I can now really look forward to celebrating my 48th wedding anniversary with my wife, Shirley, later this year,” Pinker said in a statement released by the National Health Service. But aspects of Britain’s vaccination plan have spurred controversy. Both vaccines require two shots, and Pfizer had recommended that the second dose be given within 21 days of the first. But the UK’s Joint Committee on Vaccination and Immunization said authorities should give the first vaccine dose to as many people as possible, rather than setting aside shots to ensure others receive two doses. It has stretched out the time between the doses from 21 days to within 12 weeks. While two doses are required to fully protect against Covid-19, both vaccines provide high levels of protection after the first dose, the committee said. Making the first dose the priority will “maximize benefits from the vaccination program in the short term,” it said. Stephen Evans, a professor of pharmacoepidemiology at the London School of Hygiene & Tropical Medicine, said policymakers are

one of the worst in Europe. The U.K.’s chief medical officers warned that without further action, “there is a material risk of the National Health Service in several areas being overwhelmed over the next 21 days.” Hours earlier, Scotland’s leader, Nicola Sturgeon, also imposed a lockdown there with broadly similar restrictions from Tuesday until the end of January. “I am more concerned about the situation we face now than I have been at any time since March last year,” Sturgeon said in Edinburgh. The announcements came on the day UK health authorities began putting the Oxford-AstraZeneca vaccine into arms around the country, fueling hopes that life may begin returning to normal by the spring. “The weeks ahead will be the hardest yet but I really do believe that we’re entering the last phase of the struggle,” Johnson said. Britain has secured the rights to 100 million doses of the Oxford-AstraZeneca vaccine, which is cheaper and easier to use than some of its rivals. In particular, it doesn’t require the super-cold storage needed for the Pfizer vaccine. The new vaccine will be administered at a small number of hospitals for the first few days so authorities can watch out for any adverse reactions. Officials said hundreds of new vaccination sites—including local doctors’ offices—will open later this week, joining the more than 700 vaccination sites already in operation. A “massive ramp-up operation” is now underway, Johnson said. The

Greek Orthodox Church tells priests to ignore government closure order

THENS, Greece—Greece’s powerful Orthodox Church is rebelling against a government order to briefly close places of worship under a weeklong drive to tighten virus restrictions before the planned reopening of schools. The conservative Church’s ruling body issued a statement on Monday directing priests to admit worshippers during indoor services for Wednesday’s feast of the Epiphany. The Holy Synod said it “does not accept” the new restrictions, in force from January 3-10, and would send a letter of protest to the center-right government. The government responded with a mildly worded statement voicing hope that the Church “will realize, as it has so far responsibly done, how crucial this time is for [Greek] society.” It added that Greeks are still free to offer individual prayers in church, but not to attend services. This had not been specified when the restrictions were announced on January 2. After Greece saw a spike of new Covid-19 infections and deaths in November, when intensive care units bordered on full capacity, authorities imposed a second lockdown, closing schools and suspending much economic and social activity. The measures were partially relaxed before Christmas, when churches and nonessential shops were allowed to resume some activities—albeit with limitations— together with hair salons and nail parlors. All these have now been closed for a week, while priests are allowed to conduct Epiphany church services but without admitting worshippers. The restrictions were aimed to contain the virus spread so schools could reopen after the Christmas and New Year’s holidays, following a two-month hiatus because of the pandemic.

The education ministry said Monday that inperson nursery and primary classes will start again on January 11, while secondary schools will resume online classes on January 8 with a view to fully reopening when possible. The Holy Synod statement said the government should stick to the Christmas relaxation, which had followed negotiations with the Church, arguing that clerics had faithfully observed all agreed pandemic containment measures over the holidays. Church functionaries have shown a mixed response to pandemic containment measures, ranging from lukewarm support to virulent opposition. The Church’s moderate leader, Archbishop Ieronymos—who himself contracted and recovered from Covid-19—has backed the country’s ongoing vaccination drive. But a conservative bishop made headlines after Christmas by railing against the vaccines, telling parishioners he had been informed that they included material harvested from aborted fetuses. Greece on Monday started to vaccinate retirement home residents and workers, with authorities saying that drive would be completed by Jan. 20. Separately, health workers have already started to be vaccinated. Nearly 10,000 people have received the jab since December 27, more than half of them on Monday, while the target for the end of January is 220,000. Meanwhile, daily new confirmed infections remained within three digits—427 on Monday—a considerable improvement from a high of over 3,500 in November. Health officials reported 54 new deaths, compared with a daily record of 120 in November. The overall death toll in the country of nearly 11 million is about 5,000. AP

being forced to balance the potential risks of this change against the benefits in the middle of a deadly pandemic. “As has become clear to everyone during 2020, delays cost lives,” Evans said. “When resources of doses and people to vaccinate are limited, then vaccinating more people with potentially less efficacy is demonstrably better than a fuller efficacy in only half.” Monday’s urgent announcement was yet another change of course for Johnson, who had stuck with a regional alert system that stipulated varying restrictions for areas depending on the severity of local infections. London and large areas of southeast England were put under the highest level of restrictions in mid-December, and more regions soon joined them. But it soon became clear that the regional approach wasn’t working to tamp down the spread of the virus, and critics have been clamoring for a tougher national lockdown. And while schools in London were already closed due to high infection rates in the capital, Johnson had said that students in many parts of the country could return to classrooms on Monday after the Christmas holidays, to the dismay of teachers’ unions. “We are relieved the government has finally bowed to the inevitable and agreed to move schools and colleges to remote education in response to alarming Covid infection rates,” said Geoff Barton, general secretary of the Association of School and College Leaders. AP

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

Vaccination drive enters new phase in U.S., Britain

he first Americans inoculated against Covid-19 began rolling up their sleeves for their second and final dose on Monday, while Britain introduced another vaccine on the same day it imposed a new nationwide lockdown against the rapidly surging virus. New York State, meanwhile, announced its first known case of the new and seemingly more contagious variant, detected in a man in his 60s in Saratoga Springs. Colorado, California and Florida previously reported infections involving the mutant version that has been circulating in England. The emergence of the variant has added even more urgency to the worldwide race to vaccinate people against the scourge. In Southern California, intensive care nurse Helen Cordova got her second dose of the Pfizer vaccine at Kaiser Permanente Los Angeles Medical Center along with other doctors and nurses, who bared their arms the prescribed three weeks after they received their first shot. The second round of shots began in various locations around the country as the US death toll surpassed 352,000. “I’m really excited because that means I’m just that much closer to having the immunity and being a little safer when I come to work and, you know, just being around my family,” Cordova said. Over the weekend, US government officials repor ted that vaccinations had accelerated significantly. As of Monday, the Centers for Disease Control and Prevention said nearly 4.6 million shots had been dispensed in the US, after a slow and uneven start to the campaign, marked by confusion, logistical hurdles and a patchwork of approaches by state and local authorities. Britain, meanwhile, became the first nation to start using the Covid-19 vaccine developed by AstraZeneca and Oxford University, ramping up its nationwide inoculation campaign amid soaring infection rates blamed on the new variant. Britain’s vaccination program began December 8 with the shot developed by Pfizer and its German partner BioNTech. Brian Pinker, an 82-year-old dialysis patient, received the first Oxford-AstraZeneca shot at Oxford University Hospital, saying in a statement: “I can now really look forward to celebrating my 48th wedding anniversary.” The rollout came the same day Prime Minister Boris Johnson announced a new lockdown for England until at least mid-February. Britain has recorded more than 50,000 new coronavirus infections a day over the past six days, and deaths have climbed past 75,000, one of the worst tolls in Europe. Schools and colleges will generally be closed for face-to-face instruction. Nonessential stores and services like hairdressers will be shut down, and restaurants can offer only takeout. “As I speak to you tonight, our hospitals are under more pressure from Covid than at any time since the start of the pandemic,” Johnson said. Elsewhere around the world, France and other parts of Europe have come under fire over slow vaccine rollouts and delays. France’s cautious approach appears to have backfired, leaving just a few hundred people vaccinated after the first week and rekindling anger over the government’s handling of the pandemic. The slow rollout has been blamed on mismanagement, staffing shortages over the holidays and a complex consent policy designed to accommodate vaccine skepticism among the French. “It’s a state scandal,” Jean Rottner, president

of the Grand-Est region of eastern France, said on France-2 television. “Getting vaccinated is becoming more complicated than buying a car.” Health Minister Olivier Veran promised that by the end of Monday, several thousand people would be vaccinated, with the tempo picking up through the week. But that would still leave France well behind its neighbors. French media broadcast charts comparing vaccine figures in various countries: In France, a nation of 67 million people, just 516 people were vaccinated in the first six days, according to the French Health Ministry. Germany’s first-week total surpassed 200,000, and Italy’s was over 100,000. Millions have been vaccinated in the US and China. The European Union likewise faced growing criticism about the slow rollout of Covid-19 shots across the 27-nation bloc of 450 million inhabitants. EU Commission spokesman Eric Mamer said the main problem “is an issue of production capacity, an issue that everybody is facing.” The EU has sealed six vaccine contracts with a variety of manufacturers. But only the Pfizer-BioNTech vaccine has been approved for use so far across the EU. The EU’s drug regulators are expected to decide on Wednesday whether to recommend authorizing the Moderna vaccine. In the US, Dr. Mysheika Roberts, health commissioner in Columbus, Ohio, said demand has been lower than expected among the people given top priority for the vaccine. For example, the city’s 2,000 emergency medical workers are all eligible, but the health department has vaccinated only 850 of them. She said some people were hesitant to get the vaccine and wanted to see how others handled it. The vaccine also arrived the week of Christmas, and a lot of people were on vacation and didn’t want to be bothered during the holiday, she said. “I think we all assumed that people would want this vaccine so badly, that when it became available, people would just come get it,” Roberts said. Roberts noted there has been no effective mass marketing campaign explaining why people should get vaccinated. “From the president on down, so many people have been touting the fact that we’re going to have a vaccine and get this vaccine out. But so many of those same people who were talking about it now have gone silent,” she said. “That could help if those same people would be more vocal about it.” Elsewhere around the globe, Israel appears to be among the world leaders in the vaccination campaign, inoculating over 1 million people, or roughly 12 percent of its population, in just over two weeks. The effort has been boosted by a high-quality, centralized health system and the country’s small size and concentrated population. Hoping to spur a halting vaccination effort that has only given about 44,000 shots since the third week of December, Mexico approved the Oxford-AstraZeneca vaccine for emergency use Monday. Previously, the Pfizer vaccine was the only one approved for use in Mexico. On Sunday, India, the world’s second-most populous country, authorized its first two Covid-19 vaccines—the Oxford-AstraZeneca one and another developed by an Indian company. The move paves the way for a huge inoculation program in the desperately poor nation of 1.4 billion people. India has confirmed more than 10.3 million cases of the virus, second in the world behind the US. It also has reported about 150,000 deaths. AP

Thailand confirms 745 new Covid-19 infections

ANGKOK—Thailand has registered 745 new coronavirus cases, with a new death reported in Bangkok, where a semi-lockdown went into effect. The Center of Covid-19 Situation Administration said Monday that the new infections bring the total number since last January to 8,439, while the death toll has climbed to 65. The agency said the number included 152 Thais and 577 migrant workers in Samut Sakhon, the province next to Bangkok that is the epicenter of the new outbreak. Nearly all the infected workers were employed in fish markets and factories and are all housed in dormitories that have been closed off to the public since the recent outbreak began. Since the initial spike in late December, the virus has now been found in 54 of Thailand’s 73 provinces. The government has ordered all schools closed from Monday and had taken earlier other steps to try and restrict the spread of the virus, including closing bars, massage parlors and playgrounds, and banning all public gatherings.

It has not yet closed down shopping malls or stores, while restaurants are still allowed to operate but cannot serve alcoholic beverages. Provincial governors can also order their own, tougher, measures. Bangkok authorities have announced that all eateries can only do takeaway service from 7 p.m. to 6 a.m. starting Monday evening. The government has been considering tougher measures if the spread of the virus does not slow down around the country. Elsewhere in the Asia-Pacific region: n Mask wearing has become mandatory in some circumstances in Australia’s largest city due to the pandemic risk. People risk a 200 Australian dollar ($154) fine in Sydney if they don’t wear masks in shopping malls, on public transport and in various indoor areas. New South Wales state Chief Health Officer Kerry Chant could not say how long the measure would be in place. The state on Monday reported its first 24-hour period without a new coronavirus infection being detected since December 15. A cluster that started in Sydney last month has

spread to Melbourne, Australia’s second-largest city, where masks have been mandatory since July. Australian Chief Medical Officer Paul Kelly said three new cases had been detected in Melbourne during the latest 24-hour period, bringing the national total to 28,504 cases since the pandemic began. Only 26 Covid-19 patients were in Australian hospitals on Monday, and none was in an intensive care unit, Kelly said. n Japanese Prime Minister Yoshihide Suga says vaccine approval is being speeded up to curb the spread of the coronavirus, and he promised to consider declaring a state of emergency. Tokyo Gov. Yuriko Koike and the governors of Saitama, Chiba and Kanagawa had asked the national government on Saturday to declare the emergency after the capital saw a daily record of 1,337 cases on New Year’s Eve. The declaration carries no legal penalties but works as a strong warning for people to work from home, reduce nonessential outings and social distance, as well as having businesses close early. Suga told reporters the ruling party will push

for a legal change when parliament reconvenes later this month, to allow penalties for violations. He said vaccine approval is now expected this month instead of February. Vaccinations are expected to begin next month. n Sri Lankan authorities say schools will partially reopen next week after being shut for nearly three months because of the coronavirus. Classes in primary schools will resume in most places on Jan. 11, and grade 11 classes on Jan. 25. Students in grade 11 face a compulsory government exam in two months. However, the education ministry said it decided not to reopen schools in the capital region, where Covid-19 cases are still being detected. Schools were closed in October following outbreaks at a garment factory and a fish market. Schools in some areas reopened in November but were closed again for school holidays in December. Sri Lanka has also banned public gatherings and imposed restrictions on public transport. It has reported 44,774 cases as of Sunday, including 213 fatalities. AP

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Trump to ‘fight like hell’ to hold on to presidency

ALTON, Ga.—With mounting desperation, Donald Trump declared he would “fight like hell” to hold on to the presidency and appealed to Republican lawmakers to reverse his election loss to Joe Biden when they convene this week to confirm the Electoral College vote. Electoral voters won by President-elect Biden are “not gonna take this White House!” he shouted as supporters cheered at an outdoor rally Monday night in Georgia. Trump’s announced purpose for the trip was to boost Republican Senate candidates in Tuesday’s runoff election, but he spent much of his speech complaining bitterly about his election loss—which he insists he won “by a lot.” Earlier, in Washington, he pressed Republican lawmakers to formally object Wednesday at a joint session of Congress that is to confirm Biden’s victory in the Electoral College, itself a confirmation of Biden’s nationwide victory November 3. Though he got nothing but cheers Monday night, Trump’s attempt to overturn the presidential election is splitting the Republican Party. Some GOP lawmakers backing him are rushing ahead, despite an outpouring of condemnation from current and former party officials warning the effort is undermining Americans’ faith in democracy. All 10 living former defense secretaries wrote in an op-ed that “the time for questioning the results has passed.” It’s unclear the extent to which GOP leaders in Congress will be able to control Wednesday’s joint session, which could drag into the night, though the challenges to the election are all but certain to fail. Trump himself is whipping up crowds for a Wednesday rally near the White House. Vice President Mike Pence, who is under pressure to tip the results for Trump, will be closely watched as he presides in a ceremonial role over Wednesday’s joint session. “I promise you this: On Wednesday, we’ll have our day in Congress,” Pence said while himself campaigning in Georgia ahead of Tuesday’s runoff elections that will determine control of the Senate. Trump said in Georgia: “I hope that our great vice president comes through for us. He’s a great guy. Of course, if he doesn’t come through, I won’t like him quite as much.” He added, “No, Mike is a great guy.” One of the Georgia Republicans in Tuesday’s runoff—Sen. Kelly Loeffler, who faces Democrat Raphael Warnock—told the crowd she will join senators formally objecting to Biden’s win. The other Republican seeking reelection, David Perdue, who is running against Democrat Jon Ossoff, will not be eligible to vote. Trump repeated numerous times his claims of election fraud, which have been rejected by election officials—Republican as well as Democratic in state after state—and courts up to the US Supreme Court. His former attorney general, William Barr, also has said there is no evidence of fraud that could change the election outcome. The congressional effort to keep Trump in office is being led by Sens. Josh Hawley of Missouri and Ted Cruz of Texas, along with rank-and-file House members, some on the party’s fringe. “Just got off the phone with @realDonaldTrump,” tweeted newly elected Rep. Marjorie Taylor Greene of Georgia, who is aligned with a conspiracy group backing Trump. “He wants you to call your Rep & Senators TODAY, ALL DAY!” she tweeted Monday. “Don’t let Republicans be the Surrender Caucus!”She later joined the president on Air Force One as he traveled to Georgia. Senate Majority Leader Mitch McConnell has tried to prevent his party from engaging in this battle, which could help define the GOP in the post-Trump era. House Minority Leader Kevin McCarthy, a Trump

ally, has declined to say much publicly on it. Both Hawley and Cruz are potential 2024 presidential contenders, vying for Trump’s base of supporters. Biden, speaking at a drive-in rally in Atlanta, said Trump “spends more time whining and complaining” than he does working on solving the coronavirus pandemic. He added dismissively, “I don’t know why he still wants the job—he doesn’t want to do the work.” During the day Monday, more current and former GOP officials rebuked the effort to upend the election. Former three-term Sen. John Danforth of Missouri said in a stinging statement, “Lending credence to Trump’s false claim that the election was stolen is a highly destructive attack.” He said, “It is the opposite of conservative; it is radical.” Two current Republican senators, Rob Portman of Ohio and Mike Lee of Utah, joined the growing number who now oppose the legislators’ challenge. Portman said in a statement, “I cannot support allowing Congress to thwart the will of the voters.” At the Dalton rally, Trump noted he was a “little angry” at Lee, but expressed hope that the senator would change his mind. “We need his vote,”Trump said. The US Chamber of Commerce, the giant lobbying organization and virtual embodiment of the business establishment, said the electoral vote challenge “undermines our democracy and the rule of law and will only result in further division across our nation.” So far, Trump has enlisted support from a dozen Republican senators and up to 100 House Republicans to challenge Biden’s 306-232 Electoral College win. With Biden set to be inaugurated Jan. 20, Trump is intensifying efforts to prevent the traditional transfer of power. On a call disclosed Sunday, he can be heard pressuring Georgia officials to “find” him more votes from the November 3 election he lost in that state. The challenge to the presidential election is on a scale unseen since the aftermath of the Civil War, though the typically routine process of confirming Electoral College votes has been hit with brief objections before. In 2017, several House Democrats challenged Trump’s win, but Biden, who presided at the time as the vice president, swiftly dismissed them to assert Trump’s victory. States run their own elections, and Congress has been loath to interfere. “The 2020 election is over,” said a statement Sunday from a bipartisan group of 10 senators, including Republicans Susan Collins of Maine, Lisa Murkowski of Alaska, Bill Cassidy of Louisiana and Mitt Romney of Utah. A range of Republican officials—including Gov. Larry Hogan of Maryland; Rep. Liz Cheney of Wyoming, the third-ranking House GOP leader; and former House Speaker Paul Ryan—have criticized the GOP efforts to overturn the election. Hawley defended his actions in a lengthy email over the weekend to colleagues, saying his Missouri constituents have been “loud and clear” in insisting Biden’s defeat of Trump was unfair. Cruz’s coalition of 11 Republican senators vows to reject the Electoral College tallies unless Congress launches a commission to immediately conduct an audit of the election results. Congress is unlikely to agree to that. The group, which presented no new evidence of election problems, includes Sens. Ron Johnson of Wisconsin, James Lankford of Oklahoma, Steve Daines of Montana, John Kennedy of Louisiana, Marsha Blackburn of Tennessee, Mike Braun of Indiana, Cynthia Lummis of Wyoming, Roger Marshall of Kansas, Bill Hagerty of Tennessee and Tommy Tuberville of Alabama. AP

Wednesday, January 6, 2021

Mayor calls in National Guard ahead of pro-Trump protests

ASHINGTON—Bracing for possible violence, the nation’s capital has mobilized the National Guard ahead of planned protests by President Donald Trump’s supporters in connection with the congressional vote expected on Wednesday to affirm Joe Biden’s election victory. Trump’s supporters are planning to rally Tuesday and Wednesday, seeking to bolster the president’s unproven claims of widespread voter fraud. “There are people intent on coming to our city armed,” D.C. Acting Police Chief Robert Contee said Monday. A pro-Trump rally in December ended in violence as hundreds of Trump supporters, wearing the signature black and yellow of the Proud Boys faction, sought out confrontations with a collective of local activists attempting to bar them from Black Lives Matter Plaza, an area near the White House. On Monday, Metropolitan Police Department officers arrested the leader of the Proud Boys, Henry “Enrique” Tarrio, 36, after he arrived in Washington ahead of this week’s protests. Tarrio was accused of burning a Black Lives Matter banner that was torn down from a historic Black church in downtown Washington during the December protests. A warrant had been issued for Tarrio’s arrest for destruction of property, police said. He was also facing weapons charges after officers found him with two highcapacity firearm magazines when he was arrested, a police spokesman said. Trump has repeatedly encouraged this week ’s protests and hinted that he may get personally involved. Over the weekend, he retweeted a promotion for the rally with the message, “I will be there. Historic Day!” At a November rally, which drew about 15,000 people, Trump staged a limousine drive-by past cheering crowds in Freedom Plaza, on the city’s iconic Pennsylvania Avenue. And at the December rally, which drew smaller numbers but a larger contingent of Proud Boys, Trump’s helicopter flew low over cheering crowds on the National

Mall. The protests coincide with Wednesday’s congressional vote expected to certify the Electoral College results, which Trump continues to dispute. Election officials from both political parties, governors in key battleground states and Trump’s former attorney general, William Barr, have said there was no widespread fraud in the election. Nearly all the legal challenges from Trump and his allies have been dismissed by judges, including two rejected by the Supreme Court. Now with downtown D.C. businesses boarding up their windows, Mayor Muriel Bowser has requested a limited National Guard deployment to help bolster the Metropolitan Police Department. During a press conference on Monday, Bowser asked that local area residents stay away from downtown D.C., and avoid confrontations with anyone who is “looking for a fight.” But, she warned, “we will not allow people to incite violence, intimidate our residents or cause destruction in our city.” According to a US defense official, Bowser put in a request on New Year’s Eve to have Guard members on the streets from Tuesday to Thursday to help with the protests. The official said the additional forces will be used for traffic control and other assistance but they will not be armed or wearing body armor. Congress is meeting this week to certify the Electoral College results, and Trump has refused to concede while whipping up support for protests. Some 340 D.C. National Guard members will be activated, with about 115 on duty in the streets at any given time, said the defense official, who provided details on condition of anonymity to discuss internal deliberations. The official said Guard members will be used

In this December 17, 2020 file photo, District of Columbia Mayor Muriel Bowser speaks during a news conference in Washington. Homicides in Detroit, New York, Philadelphia and other cities have topped 2019 numbers as violence surged while much of the US struggled during the coronavirus pandemic. “We’re all sick of the heinous crimes in our city,” said Bowser. Shawn Thew/Pool via AP

to set up traffic control points around the city and to stand with district police officers at all the city’s Metro stops. Contee said Guard troops will also be used for some crowd management. “Some of our intelligence certainly suggests there will be increased crowd sizes,” said Contee. D.C. police have posted signs throughout downtown warning that carrying any sort of firearm is illegal and Contee asked area residents to warn authorities of anyone who might be armed. Because D.C. does not have a governor, the designated commander of the city’s National Guard is Army Secretary Ryan McCarthy. Any D.C. requests for Guard deployments have to be approved by him. The defense official said that there will be no active duty military troops in the city, and the US military will not be providing any aircraft or intelligence. The D.C. Guard will provide specialized teams that will be prepared to respond to any chemical or biological incident. But the official said there will be no D.C. Guard members on the National Mall or at the US Capitol. At previous pro-Trump protests, police have sealed off Black Lives Matter Plaza itself, but the confrontations merely spilled out to the surrounding streets. Contee on Monday said sealing the area again was “a very real possibility” but said that decision would depend on the circumstances. “We know that historically over the last few demonstrations that BLM plaza has been a focal point,” Contee said. “We want to make sure that that is not an issue.” The National Park Service has received three separate applications for pro-Trump protests on

Tuesday or Wednesday, with estimated maximum attendance at around 15,000 people, said Park Service spokesman Mike Litterst. On Monday, a stage was being assembled for one of the protests on The Ellipse, just south of the White House. Organizers plan to rally on Tuesday evening at Freedom Plaza and again all day Wednesday on the Ellipse, including a 1 p.m. Wednesday march to the Capitol. Expected attendees include highlevel Trump supporters like Texas Attorney General Ken Paxton and Republican strategist Roger Stone, a longtime Trump devotee whose three-year prison sentence was commuted by Trump. Stone was convicted of repeatedly lying to Congress during the investigation into Russian interference in the 2016 election. During the Dec. 12 pro-Trump protests, at least two local Black churches had Black Lives Matter banners torn down and set ablaze. Contee said the hate-crimes investigation into those incidents was still ongoing and that his officers would be out in force around area churches to prevent similar incidents. “We will be increasing out visibility around the churches in the area,” he said. On Monday the Lawyers’ Committee for Civil Rights Under the Law filed a lawsuit in D.C. Superior Court against the Proud Boys and Tarrio on behalf on one of the vandalized churches, Metropolitan African Methodist Episcopal Church. “We will not allow white supremacist v iolence to go unchecked by the laws of the land,” Rev. William H Lamar IV, pastor of Metropolitan AME, said in a statement. AP

Saudi Arabia reopens borders with Qatar, easing Gulf crisis U.N. adopts $3.2 billion budget over U.S. and Israel objections D UBAI, United Arab Emirates—Saudi Arabia will open its airspace and land border to Qatar in the first step toward ending a years-long diplomatic crisis that deeply divided US defense partners, frayed societal ties and tore apart a traditionally clubby alliance of Gulf states, officials said late Monday. Qatar’s only land border has been mostly closed since mid-2017, when Saudi Arabia, Egypt, the United Arab Emirates and Bahrain launched a blockade against the tiny Gulf state, accusing it of supporting Islamist extremist groups and of having warm ties with Iran. The Saudi border, which Qatar relied on for the import of dairy products, construction materials and other goods, opened briefly during the past three years to allow Qataris into Saudi Arabia to perform the Islamic hajj pilgrimage. It was unclear what concessions Qatar had made or is promising to make regarding a shift in its policies. Kuwait, which had been mediating throughout the dispute, was first to announce the diplomatic breakthrough through its foreign minister. Earlier on Monday, the foreign minister had reportedly traveled to Doha to deliver a message to Qatar’s ruling emir, Sheikh Tamim bin Hamad Al Thani. While the Saudi decision marks a major milestone toward resolving the Gulf spat, the path toward full reconciliation is far from guaranteed. The rift between Abu Dhabi and Doha has been deepest, with the UAE and Qatar at sharp ideological odds.

Following Kuwait’s announcement, the UAE’s Minister of State for Foreign Affairs, Anwar Gargash, tweeted that his country was keen to restore Gulf unity. However, he cautioned: “We have more work to do and we are in the right direction.” The lifting of the embargo by Saudi Arabia paves the way for Qatar’s ruler to attend an annual summit of Gulf leaders Tuesday that will be held in the kingdom’s ancient desert site of Al-Ula. The summit would traditionally be chaired by Saudi King Salman, though his son and heir, the crown prince, may instead lead the meeting. Qatar confirmed late Monday that Sheikh Tamim would be attending the summit, a move that analysts say would have been domestically sensitive for him had the Saudi blockade still been in place. This year, Egypt’s president has also been invited to attend the summit of the six-nation Gulf Cooperation Council, which comprises Saudi Arabia, the UAE, Bahrain, Kuwait, Oman and Qatar. Kuwait’s foreign minister said in a statement carried on state TV that Kuwait’s ruler had spoken with Qatar’s emir and Saudi Arabia’s crown prince. The conversations “emphasized that everyone was keen on reunification,” and would gather in Al-Ula to sign a statement that promises to “usher in a bright page of brotherly relations.” The summit will be “inclusive,” leading the states toward “reunification and solidarity in facing the challenges of our region,” Saudi Crown Prince

Mohammed bin Salman was quoted as saying in remarks carried by the Saudi state-run news agency. The decision to end the Saudi embargo comes just weeks after President Donald Trump’s advisor and son-in-law, Jared Kushner, visited the kingdom and Qatar in a final push by the administration to secure a diplomatic breakthrough. It also comes just ahead of President-elect Joe Biden’s swearing in. Saudi Arabia may be seeking to both grant the Trump administration a final diplomatic win and remove stumbling blocs to building warm ties with the Biden administration, which is expected to take a firmer stance toward the kingdom. Normalization with Qatar could buy Saudi Arabia time to strike compromises with the Biden administration on other issues, like its war in Yemen and potential US re-engagement with Iran, said Samuel Ramani, a nonresident fellow at the Gulf International Forum. “Saudi Arabia could frame a partial détente, which allows Qatari civilian planes to fly over Saudi airspace and de-escalates the information war, as proof of ‘new thinking’ in Riyadh,” Ramani said ahead of the announcement. In a recent column for the UAE’s The National newspaper, Beirut Institute founder Raghida Dergham questioned whether Gulf states would be able to finalize a strategy on how to approach the Iran issue, which they would then put forward to the Biden administration as it comes to power on Jan. 20.

At heart are concerns that Qatar’s close relations with Turkey and Iran have undermined regional security. Egypt and the UAE view Qatar and Turkey’s support of the Muslim Brotherhood as a security threat and have deemed the group a terrorist organization. Saudi Arabia and Bahrain are primarily concerned with Qatar’s close ties with regional foe Iran. Those simmering tensions came to a boil in the summer of 2017, when the four countries announced their stunning blockade on Qatar and cut all transport and diplomatic links with it. The move frayed social ties, separating families who’d intermarried with Qataris. It also pushed Qatar diplomatically closer to Turkey and Iran, which both rushed to Doha’s aid with food and medical supplies that had been in short supply in the first days of the embargo. Patriotic fervor swept through Qatar in support of Sheikh Tamim’s resolve. Gas-rich Qatar also took an economic hit from the blockade, and its national airline was forced to take longer and more costly routes. It was unclear how the blockade would impact its ability to host the 2022 FIFA World Cup. The blockading countries made a list of demands on Qatar that included shuttering its flagship Al-Jazeera news network and terminating Turkish military presence in Qatar, which is also home to a major US military base. Qatar has outright rejected the demands, and has denied that its support of Islamist groups indicates support for violent extremists. AP

NITED NATIONS—After down-to-the-wire negotiations, United Nations members have adopted a budget for 2021 that was higher than Secretary-General Antonio Guterres proposed and was strongly opposed by the Trump administration for including money to commemorate the outcome of a 2001 conference in South Africa that it called anti-Semitic and anti-Israel. The UN’s regular operating budget is usually approved by consensus before Christmas, but this year contentious negotiations kept diplomats sparring until New Year’s Eve. While many countries that had compromised on a variety of issues thought consensus had been achieved, the United States called for a vote over funding to commemorate the Durban Declaration and Program of Action adopted at the World Conference Against Racism. The $3.231 billion budget was then approved by the UN General Assembly last Thursday by a vote of 167-2 with the United States and Israel voting “no.” US Ambassador Kelly Craft accused the world body of extending “a shameful legacy of hate, anti-Semitism, and anti-Israel bias” by supporting an official event during the next General Assembly session, which starts in September, commemorating the Durban outcome. The Durban conference was dominated by clashes

over the Middle East and the legacy of slavery, and the US and Israel walked out during the meeting over a draft resolution that singled out Israel for criticism and likened Zionism to racism. That language was dropped in the final documents. Craft said it was ironic that while the General Assembly was eagerly endorsing “two decades of dishonesty and division,” the Trump administration was bringing Israel and Arab nations, including the United Arab Emirates and Bahrain, together “and bridging age-old divides between people.” On December 29—long after the usual adoption of the budget—General Assembly President Volkan Bozkir had written to member states urging them to “make every effort to overcome disagreements or disputes.” He warned that “if member states fail to reach an agreement, the consequences on the work of the United Nations will be dire.” He said, for example, that all UN activities would be disrupted and all personnel would be asked to halt any activity except the minimum to ensure the safety of UN personnel and assets. The budget that was adopted two days later was slightly higher than the $3.07 billion regular budget for 2020, and it was higher than the $2.99 billion secretary-general Guterres proposed in October. AP

A10 Wednesday, January 6, 2021 • Editor: Angel R. Calso

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Crafting safety nets for vulnerable sectors

he weapon that will end the war against Covid-19, which has claimed 1.9 million lives as of this writing, has arrived. The rollout of vaccines in the US and European countries has given us hope that life would return to normal once the world gain herd immunity. While there are challenges in delivering the vaccine to billions of people all over the world, citizens can say that the end of the dreaded pandemic is now in sight. The disease may be stopped on its tracks by the vaccine, but its lingering effects would continue to be felt by many others who had been affected. Even after the pandemic is over, millions of families affected by Covid-19 would be haunted by the nightmare caused by an unseen enemy. Those who contracted the disease would also have to grapple with the post-Covid-19 syndrome even after they have recovered from the disease. Apart from those who lost their loved ones and those who contracted the disease, the impact of Covid-19 would continue to be felt by children and expectant mothers who experienced food insecurity during the pandemic. This is a problem that is not unique to poor and middle-income countries because even rich nations saw their poverty incidence rise due to the quarantine restrictions. However, for a country like the Philippines, which considers its young population as one of its economic advantages, the lack of access to food would have dire consequences not only for families but also for the country’s health-care system. According to a survey conducted by the Department of Science and Technology’s Food and Nutrition Research Institute, 7 in 10 (74.7 percent) households with children, and 8 in 10 (80.8 percent) households with pregnant members experienced the highest food insecurity during the Covid-19 pandemic (See, “Households with children, pregnant women hurt by food insecurity in pandemic,” in the BusinessMirror, December 30, 2020). The Rapid Nutrition Assessment Survey of the DOST-FNRI also indicated that 6 out of 10 (62.1 percent) households experienced moderate or severe food insecurity. Food insecurity experienced by children could lead to undernutrition and weaken their immune system, making them susceptible to diseases. According to DOST, undernutrition and frequent illness among children could result in tremendous medical cost, lost opportunities, and economic drain. The public health-care system, which has been stretched to its limits during the pandemic, would also have to shoulder the medical burden caused by undernutrition and stunting. We join the DOST-FNRI in urging policy-makers to consider the results of the survey in crafting policies that would ensure that vulnerable sectors have access to food. Policy-makers must listen to experts who said that Covid-19 is not the last health crisis that the world will see, particularly if climate change and animal welfare are not addressed. They must use the lessons of this health crisis to craft safety nets that would prevent a repeat of what Filipino children and mothers experienced during the pandemic. Since 2005

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All About Social Security

inally, it’s the third working day of the year and just like everybody else from the working population, I am back to work. Indeed, the recent holiday has been a short and relaxing respite from last year’s workload and this year, 2021, is another year to start anew. Time to revisit our personal and family goals and for the Social Security System (SSS), which I represent, to adopt better and more beneficial programs for our members and pensioners alike. The Covid-19 pandemic has taught us several lessons and one of those is taking care of ourselves and saving for our future as well. We have faced various uncertainties and challenges for the past few months and the important thing is, we all survived. Twenty twenty-one is full of opportunities. One of this is the Provident Fund that we have launched in our social-media platforms late last year, which is part of the significant provisions under Republic Act 11199 or the Social Security Act of 2018 when the new law was amended and approved by President Duterte in March 2019. Side by side with the implementation of the 1 percent Contribution Rate Increase starting this month,

we have launched the Workers’ Investment Savings Program (WISP), a Provident Fund Program of SSS. What is WISP? It is a safe, convenient, principal-protected, and tax-free individual retirement savings plan that will serve to augment members’ benefits from the regular program. Since the regular program puts a cap of P20,000 Monthly Salary Credit (MSC) in calculating benefits, the WISP will cover the contributions more than the P20,000 MSC or up to the prescribed maximum MSC. Coverage under the WISP will be automatic to all private-sector employees, self-employed individuals, OFWs, and voluntary members who have no final claim in the regular SSS program, have contributions in the

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Unlike our programs under the Flexi-Fund Program for OFWs and the Personal Equity and Savings Options Program (PESO) with early withdrawal or refund prior to member’s retirement, the benefits under WISP can only be released to a WISP member upon his final benefit claim.

regular SSS program, and have an MSC that exceeds P20,000. Contributions in WISP shall be paid together with contributions in the regular SSS program. This will also allow faster accumulation of a worker’s savings because of the employer share in the contribution. WISP contributions will be invested following the principles of safety, high yield, and liquidity, and as provided under the SS Act of 2018, which will yield additional pension income for contributing members. However, earnings realized from them will be distributed proportionately based on the member’s contribution. The total accumulated account value (AV) of the member under the WISP will be the basis of his/ her additional benefits, which will be given at the same time during his/ her retirement, total disability, and/ or death benefits. Unlike our programs under the Flexi-Fund Program for OFWs and

Starting 2021 with a collision

Lourdes M. Fernandez

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Pinoy Marino Rights

or me, the year 2021 started with a bang, literally, due to a car accident. On my way home from the grocery on the evening of January 1, a speeding Lalamove motorcycle driver hit my car along C5 extension in Las Piñas City. After my car safely turned left in an intersection, the motorcycle directly rammed the right side of my car, causing heavy dents on the front door and shattering the window. Fortunately, I did not suffer the common injuries from side-impact crashes that include head concussion or traumatic brain injury, neck or back injuries, herniated discs, whiplash, nerve damage, spinal cord damage, and paralysis. I only had minor cuts due to the splintered glasses. It is classified as a T-bone accident wherein the front of one vehicle strikes the side of another at an in-

tersection, forming the shape of a “T” at the point of impact. I have nothing against motorcycle drivers but they should bear in mind that they are not the kings of the road as their carelessness may lead to damages, injuries and worse, fatalities. In 2019, the Metropolitan Manila Development Authority documented 31,279 motorcycle accidents in Metro Manila—or an average of 86 incidents a day, with 394 deaths, making them the main killer on the road. If the road rules are to motorists, the International Regulations for Preventing Collisions at Sea 1972

The European Maritime Safety Agency declared in a report that there were 745 work-related fatalities among maritime workers and nearly 9,000 persons injured between 2011 and 2020, among other tragic statistics of this sector. (COLREGs) are to mariners. COLREGs are published by the International Maritime Organization (IMO) and set out, among other things, the “rules of the road” or navigation rules to be followed by ships and other vessels at sea to prevent collisions between two or more vessels. Causes of any ship collision may include blatant human error as well as any technical malfunction. The COLREGs were adopted as a convention on October 20, 1972 and entered into force on July 15, 1977 with 160 ratifying parties as of August 1, 2020. Under the convention, every vessel shall at all times maintain a proper lookout by sight and hearing as well as by all available means so as to make a full appraisal of

the Personal Equity and Savings Options Program (PESO) with early withdrawal or refund prior to member’s retirement, the benefits under WISP can only be released to a WISP member upon his final benefit claim. Compared to Flexi Fund, members can avail themselves of annual dividends while under WISP, benefits will be given in annuity or lump sum, depending on the manner of payment of his/her benefit under the regular SSS program. The annuity will be given in the form of a fixed amount monthly pension to be paid until the member’s AV is fully settled, covering at least 15 years. Worth mentioning also is upon the death of a WISP pensioner, any remaining balance in the accumulated AV will be paid to his/her beneficiary in lump sum. What’s great with this program is that members are now assured of higher additional benefits when they retire. To quote renowned American investor Warren Buffet, “The best investment you can make is an investment in yourself…. The more you learn, the more you’ll earn.” He is right. Have a great week ahead! Aurora C. Ignacio is SSS president and chief executive officer. We welcome your questions and insights on the topics that we discuss. E-mail mediaaffairs@sss. gov.ph for topics that you might want us to discuss.

the situation and of the risk of collision. It added that every vessel shall at all times proceed at a safe speed so that it can take proper and effective action to avoid collision and be stopped within a distance. Any action taken to avoid collision shall be made in ample time and with due regard to the observance of good seamanship. Under the “give way” rule, when two power driven vessels are crossing so as to involve risk of collision the vessel which has the other on her starboard side shall keep out of the way and shall if the circumstances of the case permit avoid crossing ahead of the other vessel. If necessary to avoid collision or allow more time to assess the situation, a vessel shall slacken its speed or take all way off by stopping or reversing her means of propulsion. Adverse effects of a collision include injury or death of life to passengers or crew, the environmental impact more so if one of the vessels is carrying any harmful material dangerous for marine life, and financial losses to the owners of the vessels. See “Gorecho,” A11

Opinion BusinessMirror

www.businessmirror.com.ph

The City of London’s new Big Bang

The blue sky revolution: Business as an agent of world benefit

By Elisa Martinuzzi | Bloomberg Opinion

he City of London, for years the world’s dominant financial center, is facing its biggest reset since the Big Bang of 1986. Those reforms liberalized market trading, making the UK a magnet for banking activity from around the globe. This time the reverse is happening: The rules that shape Britain’s new relationship with the European Union (EU) mean finance business is leaving the City at an unprecedented clip. While the lasting effects of Brexit on London probably won’t be known for years, the first business day after Britain’s January 1 departure from the single market was a significant turning point—and not just symbolically. Because EU investors must trade European shares inside the bloc (unless they’re denominated in pounds), brokers and exchanges have been advising customers from the UK and the rest of the world to also buy and sell equities in EU hubs, where liquidity is now likely to be deeper. The result? On Monday, the first trading day of 2021, public data on exchanges pointed to London having lost almost 45 percent of the volume of stock that would have gone through the City at the end of last year. About €6.3 billion ($7.7 billion) of shares that would have traded on London-based platforms changed hands in the EU, according to data compiled by Cboe Global Markets Inc., which now handles some of those exchanges from Amsterdam. It was only one day of trading and habits could still change, but it’s hard to imagine the circumstances under which the EU would want that business to return to London. Indeed, snapping up other financial business of even greater economic significance will be next on Europe’s agenda. EU stock trading leaving the British capital wasn’t unexpected. Soon after the 2016 UK vote to leave the single market, the financial services industry started preparing for the worst. Sidelined in the trade discussions, it quickly became apparent that finance would lose unfettered access to the bloc, leaving firms with little choice but to set up EU bases to serve the region’s clients. Late last year, some big banks shifted large chunks of their balance sheets across the Channel. Trading will inevitably migrate to where investors can get the best execution. If EU clients had to move their business, it was inevitable that their financiers would follow. Why would a US or Japanese investor keep trading EU stocks in London if that’s not where they’d be getting the best price? More surprising—and more alarming for London—is the apparent seamlessness with which the New Year move happened. Going into the final stages of Brexit negotiations at

Gorecho. . .

continued from A10

The sinking of the passenger vessel MV Doña Paz on December 20, 1987 was considered as one of the worst peacetime disaster and the worst in the 20th century. At around 10:30 p.m., MV Doña Paz collided with a motor tanker, MT Vector, near Dumali Point between the provinces of Marinduque and Oriental Mindoro. With only 25 survivors, MV Doña Paz was even named the Asia’s Titanic as the collision resulted to the death of 4,341 passengers. The vessel was overcrowded, with at least 2,000 passengers not listed on the manifest. The maritime profession has always been identified as a perilous job on board vessels that cross ocean boundaries and replete with health and safety hazards, in relation to the risks of accidents, illnesses and mortality. The job of a seafarer is, indeed, not exactly a walk in the park. The European Maritime Safety Agency declared in a report that there were 745 work-related fatalities

the end of last year, regulators were cautiously optimistic that most risks to financial stability have been mitigated and any disruption would be minimal. But the ease with which the EU has been able to seize control of share trading—a key emblem of its financial markets—will only embolden Europe to pursue yet more business (assuming there are no bumps over coming days). For now, trading firms are still allowed to carry out market-making of EU shares from outside the bloc. Why not bring that under Brussels oversight too? That would be a big prize, involving substantial amounts of capital and human intellect. The clearing of derivatives, in which the UK has been granted temporary equivalence with EU rules until June 2022, could be next. London’s dominance as an investment-management hub is also uncertain. The European Commission is studying whether to tighten rules over how EU–based funds delegate the management of portfolios to investors outside the bloc. While delegation isn’t likely to be banned, Brussels could make it more expensive to manage funds from thirdparty countries by increasing compliance and governance obligations. Britain and the EU have agreed to draft a memorandum of understanding around the regulation of financial markets by March, an agreement that will supplement the broader Christmas Eve trade agreement, but which won’t be as legally binding. The hope on both sides must be that it establishes a framework for granting equivalent access to each others’ markets, with predictable rules and proper consultation on any decision to withdraw access. Greater visibility will allow finance firms to determine which businesses will be worth duplicating between London and continental hubs, and which activities will simply cease to be economically viable—either in the UK or the bloc. The shift in stock trading is a poignant sign of what the EU is aiming for as it seeks to establish a deeper capital market to fund its economies and wean its companies off bank loans. In the words of one market participant, “It’s not ‘Big Bang,’ it’s ‘Bang and it’s gone.’” The EU’s dependence on the City of London is no longer a given. among maritime workers and nearly 9,000 persons injured between 2011 and 2020, among other tragic statistics of this sector. For centuries, the “Good Samaritan” maritime rescue doctrine encourages seafarers to go to the aid of life and property in distress, including those involved in collisions. Regardless of who is at fault in a collision incident at the high seas, vessels that sustained minimal or no damage are obliged to rescue mariners distressed or shipwrecked by the mishap. The United Nations Convention on Law of the Sea says that every signatory to the convention must require the master of a ship flying its flag to render assistance to any person found at sea in danger of being lost and to proceed to the rescue of persons in distress. The exemption is when the assisting vessel, the crew or the passengers on board would be seriously endangered as a result of rendering assistance to those in distress. Atty. Gorecho heads the seafarers’ division of the Sapalo Velez Bundang Bulilan law offices. For comments, e-mail info@sapalovelez.com, or call 0917-5025808 or 0908-8665786.

Wednesday, January 6, 2021 A11

Dr. Carl E. Balita

Entrepreneurs’ Footprints

corporation is privileged with a juridical personality, which in effect makes it a temporal being created with rights and privileges as well as duties and obligations. The primary purpose written in the incorporation document of a corporation spells out its essence of being and prescribes its boundaries of becoming towards corporate citizenship. It is logical therefore to oblige this corporate citizen to assume its social role with social rights as provider, political rights as channel, and civil rights as enabler. Simply, it is about being a good neighbor to a host community.

The quintuple bottom-line The business goal of doing well takes a new objective of doing good. Innovation, being an indispensable element of entrepreneurial success, takes a new strategy of anchoring itself on the solid bottom-line of profit (economy), people (empowerment), and planet (ecology) aligned with a purpose, unique on its own embedded in the corporate DNA of the business. The triple bottom-line further transforms to a more meaningful model for social entrepreneurship with a quintuple bottom-line to also include financial stability and ethico moral-legal sensitivity. The resultant outcomes are social equity, environmental sustainability, economic prosperity, and cultural vitality. Social entrepreneurship may endeavor to achieve one or any combination of these. The following illustrates the Social Entrepreneurship Framework proposed by this writer:

There are many great entrepreneurial stories championing these outcomes that can be told. They are businesses that prove to be agents of world benefit.

From the red ocean to the blue sky

From the bloody red ocean where enterprises are predators to survive, the blue ocean strategy emerges to make competition irrelevant by creating a new market space. A new business revolution paints a blue sky

where the horizon extends to an infinite abundance. The blue hue in the sky is a reflection of the scattered blue light from the energizing sun as it converges with the molecules of the life-giving air. Social entrepreneurship is a revolutionary blue-sky mindset of abundance that blends the energizing profit for sustainability (like the sun) and the life-giving social benefits for its purpose (like the air). There are local, regional, national and international exemplars of enterprises founded by entrepreneurs and continuously innovated towards meaningful existence as agents for world benefits. Here are some stories in the four areas of Social Entrepreneurship.

Story of social equity

Dante Tiosan was a 19-yearold college student when he became blind. He was a semester away from graduating in a College in Accountancy. He had been through a se-

ries of depression and struggles to adapt to the dark world before he found himself as a skilled homeservice masseur. In 1989, he became a massage instructor for the blind. In three years, he realized that his trainees were not productive and hardly could make a living. He organized them under VIBES and started in 1992 as a home-servicing massage center. In less than a decade, VIBES has established in the malls, and currently has 56 branches—45

of which are owned by blind franchisees. Almost 500 blind masseurs are now productively working in VIBES, earning from P500 to more than P1,000 a day. Dante Tiosan may have lost his sight but never the vision for the blind.

A story of economic prosperity:

AT the age of 23, Emerson Atanacio became the youngest President & CEO of a college in the Philippines. He is called the Father of Manufacturing and Production Technology Education. He founded the LEAP (Learn-Earn-Achieve Program) where the companies provide trainees with training allowance, which becomes their source to pay their tuition fees. In the process of training, he impresses upon the youth the lessons in life: to labor to earn, to earn to live and to live to understand that the value of hard work is in itself one’s treasure—lessons that he envisioned will forge the tool for nation-building. Over 24,000 trainees, including out-of-school youths from different parts of the country, have benefited from his program and are now mostly employed. The youth were able to go back to school and be part of the productive mainstream of our society. He is a The Outstanding Young Men (TOYM) awardee for Social entrepreneurship. Emerson Atanacio proved that the proof of learning is change.

A story of environmental sustainability:

Inspired by the success of China to overcome food shortages, the Lim Family engaged in performing research work on hybrid rice. Henry Lim Bon Liong has successfully led the developed hybrid rice varieties suitable to the tropical conditions in the Philippines. He is regarded as the Father of Hybrid Rice for having promoted the development, commercialization, and growth of hybrid rice technology. Collaborating with government agencies, he was able to launch the Doña Maria Rice brand with entrepreneurial strategies to ensure its commercial success. He now has contract growers for rice to whom he provides financing and income opportunities through the additional yield of 3-4 tons per hectare compared with their traditional variety. Through nationwide farmers education projects, he has advocated that maximum agricultural productivity is achievable only through sustainable agricultural practices. He makes available for the farmers the Planergy, a liquid organic element from volcanic pit and he leads the rejuvenation of the soil for the generations to come. To Henry Lim Bon Liong, the Philippines can rice (pun intended) and shine.

Story of cultural vitality

Finishing his Medical degree and passing the Physician Licensure Examination are both good news to Dr. Nol Montalbo until the bad news of family bankruptcy made them lose everything. All the hard-earned money of his father, who worked in Saudi Arabia for 28 years, vanished. With P1,500 borrowed from a classmate, he started making homemade soap in his kitchen, and he sold to friends and online. He decided to convert a space in their rented apartment to a small spa. He learned the different kinds of massage, took the DOH licensure examination for massage therapists, and topped it, and developed his own massage sequence. It was branded as Mont Albo Massage Hut, which niched in the offering of the traditional Filipino massage called hilot. He was passionate in the wellness value of the hilot and as a doctor advocated its revival as a mainstream massage option in the Philippines where Thai, Japanese and Swedish massages are more popular than its own traditional hilot. With Mont Albo Massage Huts, the Philippine traditional hilot perfected by our ancestors was revitalized and will be passed on to the next generations. Dr. Nol Montalbo has resurrected the grandmother’s way of finding health through serenity. And there are more stories waiting to be made and told. While a business may somehow achieve some ulterior benefits from the chosen area of social entrepreneurship, the authenticity of its social value is measured by the benefits of the greater majority it honestly chooses to serve. If indeed every generation calls for a revolution, our present generation calls for not only entrepreneurial revolution but also social entrepreneurship revolution. As the discrepancy between the rich and the poor widens—even wider than the diversity of the space for commodities and services—the real prosperity of an entrepreneur is derived from what others have become because of them. Social entrepreneurship is the blue ocean strategy where abundance is in its infinity because of the patronage it enjoys from growing markets (as the horizon), and the energizing profit that sustains the enterprise (as the sun) converges with the life-giving force of social benefits that make a difference (as the molecules of the air). The absence of any of these elements will not make the sky blue, and such a beautiful analogy on how business revolution should take the path and leave footprints to bring about changes that matter. This is an abridged version of the chapter in the book Entrepreneur in 12 Days by the writer. Feedback may be sent to drcarlbalita@yahoo.com

The politics of Covid just got even more hellish By Tyler Cowen | Bloomberg Opinion

new strain of Covid-19, more contagious than previous strains, is now circulating in dozens of countries. Other new strains, such as one first detected in South Africa, will almost certainly emerge. Aside from the challenges these mutations pose to public health, they will also be a test of our moral and political principles. As exhausted as we all are from making stressful judgments throughout this pandemic, we are about to face some of the most difficult trade-offs yet. Preliminary data indicate that the new strain in the UK allows the virus to spread from one person to another more easily. The practical upshot is that even the strict lockdowns of early 2020, such as the one just ordered in the UK by Prime Minister Boris Johnson, may not be enough to reverse the spread of the virus. It is far from obvious that politicians will be able to sell voters on strict lockdowns if they still allow the virus to spread. Furthermore, vaccine distribution has been sufficiently slow that a full lockdown would have to last for many months, and that probably isn’t feasible or desirable. Yet not having lockdowns

would lead to a much more rapid spread of the virus, overloading hospitals and public health facilities. It’s hard to come up with the moral language to compare those outcomes when all of them are unacceptably bad. Trust in elites is already weak in the US, and it is likely to wane further. Whatever one might think is the correct course of action, how exactly would or should a President Joe Biden present and defend it to the public? A further set of moral dilemmas comes from the interaction of viral spread and the vaccine process. If the virus is spreading more quickly, then so should vaccinations. The UK will be vaccinating a greater number of people with a single dose, and giving them the second dose somewhat later, rather than reserving second doses for a rapid follow-up within two to three weeks. The Brits also might experiment with giving a first dose of one vaccine, and a second dose of a different vaccine, to stretch the available supply. That might work, but it is also untested and thus it involves some risk. Whatever you think of those approaches, the public health establishment is not well-geared to evaluate and present them to the public. The

common mentality and message in public health is “safety first.” Yet none of the available approaches increases the level of safety or avoids major additional risks. One option would be for public health experts to speak explicitly in terms of “expected value” and medical triage, and to be upfront about how many lives are being sacrificed and according to which standards. An alternative would be to retreat into a defense of status-quo vaccine allocation procedures, insisting that major changes would involve risks, and maximizing blame avoidance rather than seeking the best outcome. Either way, the public health bureaucracy doesn’t appear to have much ability to negotiate such treacherous shoals. Perhaps more condescension is what should be expected. The biggest moral dilemmas might come in those countries that to date have been fairly successful at containing the spread of the virus. Apart from restrictions on foreign travel, life in Taiwan has been normal for some time now, and Covid-related casualties have been miniscule. Other successful examples of virus containment can be found throughout Asia and the Pacific.

But how will those countries deal with the new strain? It has already appeared in both Taiwan and China. So far it has not taken over, but the previous tactics of quarantine and tracing may no longer suffice, should the new strain become more active. It is already spreading in Denmark, which did a good job against Covid-19 early on. Imagine being a leader of a country that has successfully contained Covid, and now realizing that a single mistake could undo almost a year of very hard work. You also know that, precisely because your country has been so effective at fighting the virus, it is not on the verge of vaccinating your entire population. What if you let a single returning citizen pass through customs taking one Covid test rather than three? What if you then cannot control the subsequent spread of the strain that person is carrying? When was the last time that stakes for such apparently minor decisions were so high? How will leaders deal with the extreme moral anxiety that their decisions will likely induce? It is like we are living in a horror movie, and just when we think it’s over, the monster comes back, stronger than ever.

A12 Wednesday, January 6, 2021

SC thumbs down bid for writ of kalikasan vs SMC Aerocity

By Joel R. San Juan

@jrsanjuan1573

HE Supreme Court has junked the petition seeking the issuance of a writ of kalikasan to enjoin San Miguel Corporation’s (SMC) construction of a domestic and international airport in Bulacan known as the Aerocity Airport Project. The unanimous decision was reached at Tuesday’s regular en banc session of the High Tribunal. The SC declared that the petition filed by Oceana and several fisherfolk in Bulacan was “not

sufficient in form and substance,” thus warranting its immediate dismissal. Oceana is an international advocacy organization dedicated to protecting the world ’s oceans.

SMC Aerocity, with its subsidiary-contractor Silvertides Holdings, plans to construct the New Manila International Airport on a 2,500-hectare foreshore area of Bulakan, Bulacan—classified by the National Mapping and Resource Information Authority (Namria) as forestland and permanent forest land. The airport is part of an envisioned 12,000-hectare township that features a residential zone, government center, seaport, and an industrial zone. However, the petitioners said the project should be enjoined for violating numerous environmental laws. It poses danger to the resident and migratory bird population and would have an impact on climate change and marine habitat, petitioners claimed. They noted that the Airport Project Area and the A ir port City Area cover forest and permanent forest land that are not alienable and disposable, thus, violate Republic Act 4701 or An Act Declaring a Portion of the Foreshore Fronting Manila Bay Along the Province of Bulacan as Bulacan Fishing Reservation and

Authorizing the Appropriation of Funds Therefor. Other laws allegedly violated were R.A. 7160 of the Local Government Code R.A. 8550 or the Philippine Fisheries Code of 1998; R.A. 9275 or the Clean Water Act; R.A. 9729 or the Climate Change Act; R.A. 10654 or An Act to Prevent, Deter and Eliminate Illegal, Unreported and Unregulated Fishing, Amending R.A. No. 8550 or The Philippine Fisheries Code of 1998; Presidential Decree 705, also known as the Revised Forestry Code of the Philippines; Presidential Decree 1586 (Violation of the Philippine Environmental Impact Statement Law), and several other administrative issuances, memoranda and circular per ta ining to env ironmenta l protection. Named respondents were Environment and Natural Resources Secretary Roy Cimatu, Environmental Management Bureau Region III regional director Wilson Trajeco, Transportation Secretary Art Tugade, San Miguel Aerocity President/CEO Ramon S. Ang, and Silvertides President/CEO Hercules V. Galicia.

POLL: INSTABILITY, INFRA LACK STYMIE JAPANESE FIRMS’ PLANS By Elijah Felice E. Rosales

@alyasjah

APANESE firms have said they may hold back from investing in the Philippines over the next two years, as they cited numerous issues, ranging from political instability to lack of infrastructure, in operating here. A survey by the Japan External Trade Organization (Jetro) showed the number of Japanese investors who said they will expand their business in the Philippines dropping to 34 percent in 2020, from 52 percent in 2019. More than half said they will just keep their operations as is to mitigate their losses incurred during the Covid-19 lockdowns. Further, the survey reported at least 8 percent of Japanese firms here will scale down, from just 3 percent in 2019, to cope with the changing investment landscape. Likewise, roughly 23 percent of the survey respondents reduced their Filipino work force, from only 9 percent in 2019, and some 15 percent look to reduce further in 2021. On the other hand, close to a third of Japanese investors are eyeing to expand their manpower this year in anticipation of an economic rebound. Roughly 40 percent claimed recovery will likely take place in the second half of 2021, while 29 percent said it could happen in the first half; 15 percent, for their part, believe a bounce back is only possible by 2022. According to the Jetro survey, demand for the products of 43 percent of Japanese

enterprises in the Philippines remained the same in the time of Covid-19. However, at least 41 percent of them saw a decline in the appetite for the goods they are producing. In spite of the stay-at-home order for most of 2020, 51 percent of the Japanese firms said they have yet to revise their business model, while the other half said they already did and adopted new arrangements, such as work from home.

Issues

The Japanese investors who responded to the survey argued the Philippines is facing issues on political instability, lack of infrastructure, shortage in raw materials, low demand, and safety and security concerns. These factors, they added, at times outweigh its advantages in terms of the wages for workers and fiscal incentives for investors. “Reasonable compensation for workers and favorable tax incentives as of September 2020 were superior to neighboring countries,” the Jetro report said. In terms of compensation based on annual total salary, the Philippines is the most competitive country in Southeast Asia for engineers in the manufacturing sector. Vietnam, for its part, is the most cost-competitive for workers and managers in manufacturing, while Indonesia is for those in nonmanufacturing. The survey gathered the insights of 133 Japanese companies in the Philippines, of which 74 are in nonmanufacturing and 59 are manufacturers, from August to September 2020.

PSG spared, but NBI, senators’ vaccine probe seen to go on

USTICE Secretary Menardo Guevarra is not inclined to order the National Bureau of Investigation (NBI) to drop its investigation into the controversy that stemmed from the voluntary inoculation of several members of the Presidential Security Group (PSG) with unregistered anti-Covid 19 vaccine. Guevarra made known his position despite President Duterte’s pronouncement that he would shield the PSG from the planned Senate inquiry in aid of legislation on the government’s action plan to procure anti-Covid-19 vaccines. Duterte has advised PSG chief Brig. Gen. Jesus Durante III not to attend the Senate hearing and to invoke executive privilege if pressed to appear and testify. “The focus of the NBI investigation is the alleged proliferation of unregistered anti-Covid 19 vaccines in the so-called black market and their unauthorized administration,” Guevarra said when asked whether the President’s remarks would stop NBI’s probe on the issue. “The agency can obtain information from various sources,” he added. NBI Deputy Director and Spokesperson Ferdinand Lavin, in an interview over CNN Philippines, said the agency has to comply with the existing directive from the DOJ to conduct an investigation on the issue. “Our investigation will proceed unless that order of the secretary is withdrawn,” Lavin said. In fact, Lavin said upon receipt of the order of the DOJ, its Special Action Unit led by lawyer Emeterio Dongallo Jr., had already sent a communication to the Food and Drug Administration requesting for certification on whether there had already been vaccines which has been registered or whether there are vaccines submitted for registration and on what stage already are these vaccines on the registration process. Lavin said the NBI might reach

out to Durante in the coming days through the Armed Forces of the Philippines since the PSG is under its command. “If they will not cooperate, we will proceed with the investigation and we will build up the case on independent evidence,” Lavin said.

Vaccine smuggling

Lavin added that the NBI is also expected to reach out to the Bureau of Customs on the matter of importations or reported smuggling of vaccines. Guevarra issued last December 28 an order directing the NBI on the reported importation, sale, offering for sale, distribution, administration, and inoculation of Covid-19 vaccines that are not authorized or registered with the Food and Drug Administration. Guevarra directed the NBI to file charges, if evidence warrants, against those responsible for the illegal act.

No Senate grilling

Senate leaders indicated early on Tuesday that what President Duterte called a possible “little crisis” on the participation of Palace security aides in an inquiry over their use of unregistered Covid-19 vaccine would not happen, as lawmakers will not insist on grilling members of the PSG. According to Minority Leader Franklin M. Drilon, the President can invoke executive privilege in enforcing his late-Monday directive for PSG men not to attend the congressional investigation on the use of vaccines unsanctioned by the FDA. “The President, in effect, is invoking executive privilege. It is a recognized power of the President. It is a valid exercise of the power of the President under EO 464, as affirmed by the Supreme Court in the case of Senate of the Philippines vs Ermita,” said Drilon in a statement to Senate reporters. Continued on A6

Arnel Baltazar, 65, working on a wooden bed in a sash manufacturing company on Pedro Gil Street, Manila, laments the impact of the pandemic on their business. The Department of Trade and Industry reduced its medium-term export projections from $130 billion set in the Philippine Export Development Plan 2018-2022 to $103.9 billion. DTI added that travel goods, garments and wood-based industries were hit most by the Covid-19 restrictions. NONIE REYES

Insurance sector pays out ₧2.3-B Covid-related claims By Bernadette D. Nicolas

@BNicolasBM

OTA L Cov id-19 rel ated claims paid by the insurance industry have already hit P2.3 billion as of September last year, according to the Insurance Commission (IC). According to the second survey conducted by the IC from May until September, the insurance industry paid a total of P1.98 billion for Covid-19 related claims. This was on top of the Covid-19 related claims paid by the industry amounting to P326.95 million as earlier reported in the first survey done by IC from April 16 to May 8. The surveys were conducted across four insurance sectors to assess the financial impact of Covid-19 and how these entities have responded to Covid-19-associated claims. Insurance Commissioner Den-

nis B. Funa said in a statement on Tuesday that the payment of such pandemic-linked claims by the four insurance sectors is a “clear testament” of the regulated entities’ financial resiliency despite the challenges posed by the pandemic. “This Commission is confident that the staggering [six-fold] increase in payment of Covid-19 related claims serve to inspire consumer confidence in the four respondent industries and educate our fellow Filipinos of the benefits of availing the insurance and HMO products sold by said regulated industries,” Funa said. Hospitalization benefits cornered the biggest chunk, or 62 percent of claims paid with In-Patient and Out-Patient Benefits amounting to a combined total of P1.226 billion. Out-Patient Benefit claims paid amounted to P637.92 million while

In-Patient Benefit claims paid reached P588 million. This was followed by Death Benefit claims paid at P553.31 million. Apart from this, the industry paid claims on Other Benefits (P148.4 million), Personal Accident Benefits (P20.64 million), Medical Reimbursement Benefits (P9.49 million), Hospital Income Benefits (P7.04 million), Travel Benefits (P6.03 million), Critical Illness Benefits (P4.13 million), and Hospitalization Allowance Benefits (P372,550). Among the four insurance sectors, the health maintenance organization (HMO) industry paid the biggest amount of Covid-related claims at P1.09 billion. This was followed by the life insurance sector which paid P739.83 million, mutual benefit associations or MBAs (P219.63 million), and nonlife insurance sector (P41.71 million).

However, the Commission admitted a discrepancy between the figures presented in the total claims paid per benefit and per industry. The Commission said it tried to call the attention of the companies to clarify the discrepancies in the figures, but not all of them replied and/or made the necessary corrections. Nonetheless, the IC said the second survey had fewer respondents at 111 compared to the first survey with 142 participants out of 147 regulated entities. Participants for the second survey include 24 life insurance companies, 44 nonlife insurance companies, 23 MBAs and 20 HMOs. The second survey also revealed that 68 of the respondent companies received claims related to Covid-19, translating to a 54.55-percent jump from 44 companies with pandemic-related claims in the first survey.

www.businessmirror.com.ph

Companies BusinessMirror

Wednesday, January 6, 2021

Cebu groups urge Duterte to intervene in Naia rehab

By Lorenz S. Marasigan

@lorenzmarasigan

USINESS groups in Cebu have called on President Duterte to intervene in the approvals process for the P109-billion unsolicited proposal for the redevelopment of the Ninoy Aquino International Airport (Naia).

In separate letters to Duterte, members of the Cebu Business Groups—composed of the Cebu Chamber of Commerce and the Mandaue Chamber of Commerce and Industry Inc.—backed Megawide Construction Corp. and partner GMR Infrastructure Ltd. in their bid to rehabilitate the decades-old Naia. Cebu Association of Tour Guides President Mary Grace Melendres said her group finds the issues being hurled against the Filipino-Indian partners as “harassment.” This includes the anti-dummy case filed before the National Bureau of Investigation (NBI). “We believe the sole purpose of this issue is to tarnish their reputation given the Naia project and has nothing to do with the airport’s management,” Melendres said in the letter. She also called the two companies, which has been developing and operating the Mactan-Cebu International Airport (MCIA) for years now, as as-

sets to the “advancing of Cebu’s tourism image as tourist arrivals greatly increased.” She cited 2019 data, which showed that 13 million passengers traveled through the airport last year, double the volume recorded six years ago at 6.5 million passengers per year. “The solid partnership of Megawide and GMR has been an asset to Cebu boosting local tourism and the regional economy. MCIA excellent operations has provided jobs and livelihood to Cebuanos and business growth opportunities for local entrepreneurs that include us,” Melendres said. In a separate letter to Duterte, local supplier Vertical Difficult Access Solutions Inc. President Eduardo Solana Jr. said third-party partners of Megawide and GMR are “very much satisfied with how the MCIA is operated and managed.” He said the cases filed against the two companies are nothing but aggravating issues that inhibit the

companies from quickly modernizing the old airport. “The case is nothing more than a nuisance issue meant to tarnish the company’s reputation in connection to the private contractor’s Naia rehab bid,” he said. In yet another letter, Prime Care Alpha Covid-19 Testing Laboratory Head James Peter S. Aznar said the modernization of the prime air hub is necessary not only to jumpstart the country’s tourism and economy. A modernized airport, he said is “the first line of defense” in the fight against Covid-19. “We strongly believe that Megawide and GMR are also the nation’s best bet to revive the glory of the country’s airports most especially the country’s primary gateway, the Ninoy Aquino International Airport,” Aznar said. To recall, the Manila International Airport Authority (Miaa) revoked the original proponent status of Megawide for its P109-billion unsolicited proposal, after it found that the company could not allegedly fund the equity portion of the project. Before the revocation, however, Megawide submitted various documents that support its claim that it can fund the project through its partnership with GMR, as well as the issuance of preferred shares to raise fresh capital for the airport project. The consortium submitted these, including other requirements like a joint solidary agreement, on November 20 and December 1.

The OPS of Megawide was revoked on December 15, after a December 4 meeting that based the revocation on the Neda’s earlier findings. During a Senate hearing, Transportation Secretary Arthur P. Tugade said the consortium may file an appeal before the Miaa board, which will soon convene to discuss the merits of the motion for reconsideration. Megawide filed a motion for reconsideration on December 21. Megawide has proposed to implement the P109-billion project between seven to five years in three phases. The first phase includes the immediate improvement of the airside and landside segments of Naia through the improvements of the existing terminal and the optimization of the existing runways. The second phase involves the construction of a new passenger terminal building and the improvements of the apron and taxi lane to provide access to the new terminal. The group will also relocate the cargo terminal and the fuel farm to accommodate the new terminal building. The last phase will see the group building a rail-people mover system that will allow passengers to move from one terminal to another through an overhead railway system. Should Megawide fail to win this appeal, the government has two more unsolicited proposals for the Naia lined up: one from Philippine Airports and Ground Services Inc. and another for San Miguel Corp.

IP E-Game acquires stake in 2 firms I

P E-Game Ventures Inc. is acquiring shares in a payment service provider and a foreign exchange and remittance company, according to separate disclosures to the local bourse. The interactive gaming and content distribution firm said it has executed a term sheet with Fastcash Remittance Inc., a payment service provider, for the acquisition of the latter’s 60-percent capital stock.

It has pegged the acquisition cost at $3.6 million, funded through a share swap deal with selling shareholders. Approximately, this translates to 6.04 percent of IP E-Game’s shares. Fastcash is a special purpose vehicle that controls 60 percent of MYEG Philippines, a subsidiary of Asean unicorn MYEG Malaysia. MYEG Philippines operates an aggregated Over the Counter network of approximately 50,000 locations,

while also having credit card, debit card, and e-wallet payment processing capabilities. MYEG Philippines also owns MYEG Insurance Brokers, a licensed insurance agency engaged in online micro-insurance. Aside from Fastcash, IP E-Game also executed a term sheet with IPay Commerce Ventures Inc. for the acquisition of a minimum of 47 percent up to a maximum of 80 percent

of the latter’s capital stock. A definitive valuation was not disclosed, but the company intends to do a share swap—equivalent to as much as 6.67 percent of its shareholdings—for the transaction. I-Pay is a foreign exchange and remittance company that operates a sub-agent base of close to 1,000 physical locations. It is also a direct agent of Western Union. Lorenz S. Marasigan

Hon Hai sets sales record on strong 5G iPhone demand

Clark aviation firm recommended for ISO certificate

ain iPhone assembler Hon Hai Precision Industry Co. reported higher-than-expected quarterly revenue thanks to robust demand for Apple Inc.’s new 5G devices. The Taiwanese company’s sales in December totaled NT$713.8 billion ($25.5 billion). Revenue in the quarter reached a record NT$2 trillion, according to Bloomberg News’s calculations based on previously released monthly sales figures, beating the average estimate of NT$1.8 trillion. The strong showing from Apple’s most important production partner suggest demand for the United States giant’s latest devices may have surpassed initial expectations. The world’s most valuable company outperformed the biggest tech corporations in 2020 on the strength of its 5G iPhones, a crucial indicator of whetherconsumerswilladoptthemuchfasterbutpricier technology in 2021. Wall Street has grown increasingly bullish on Apple’s prospects in the coming year with analysts projecting that a recovering economy will fuel even more demand for iPhones, wearables such as Airpods and services. Wedbush analyst Daniel Ives wrote Asia supply-chain checks “have now exceeded even our ‘bull case scenario’ for units in FY21 given the current trajectory, a major positive for shares over the coming months.” Hon Hai is the exclusive assembler of the top-of-theline iPhone 12 Pro and iPhone 12 Pro Max. Its sales for 2020 came in at NT$5.4 trillion, up slightly from NT$5.34 trillion in 2019 after Covid-era demand for connected gadgets offset a global economic downturn. Chairman Young Liu has said he expects Hon Hai sales to grow by single digits in 2021, while its automotive-related business will be “very good” in the first half.BloombergNews

Contributed Photo

lark Freeport—A global provider of auditing and certification services recommended the issuance of an ISO 9001:2015 Certification to the government-run Clark International Airport Corp. (CIAC) which passed a recent external audit late last month, CIAC President Aaron Aquino said. TUV Rheinland recommended the issuance of a new ISO certificate for the agency after clearing the external audit covering estate management and processing of lease of land, building and structures under CIAC’s jurisdiction. ISO 9001:2015 is an international standard dedicated to Quality Man-

agement Systems, the combined processes, resources, assets, and corporate values that support the goal of customer satisfaction and organizational efficiency. “TUV Rheinland found zero nonconformities, cited us for business continuity that we were able tooperate in spite of the pandemic, and commended us for positive findings, including our 93.75 percent overall performance rating in the 2019 balanced scorecard validated by the Governance Commission for GOCCs,” Aquino said. The external auditors also commended CIAC’s iHanda 2022 Strategic Plan which is aimed at airport infrastructure and aviation com-

plex development, technological deployment, and the adaptation to the new normal in corporate governance. “The recommendation (for the new ISO certificate) verifies CIAC’s organizational efficiency and commitment to stakeholders as we pursue our corporate mission to develop a world-class aviation complex in Clark,” Aquino added. In the past years, CIAC was also ISO-certified for its airport operations, specifically on passenger facilitation and internal processes. The scope of external audit for the agency was changed after the airport’s operations and management were privatized in August 2019.

SMC completes target 156 RFID installation sites S

an Miguel Corp. (SMC) said it has reached its target 156 RFID stations last December 29, following through on an earlier commitment to open more Autosweep RFID installation stations in more locations before the end of December—particularly in “offsite” areas away from its southern expressways to reach more motorists. “Back in November, and again in mid-December, we committed to open over 100 new RFID stations in various locations before end of the year. Even as we were preoccupied with soft-opening our Skyway 3 and then had a long New Year’s break, I’m happy to report to the public that we also reached our target 156 Autosweep RFID installation stations, last Dec. 29,” said SMC President and Chief Operating Officer Ramon S. Ang in a statement. “With our continuous rollout of additional RFID stations which started November, and the completion of our target 156 stations by end-December, we’re no longer seeing long lines at the stations. We will continue to serve and accommodate all motorists wanting to install their free Autosweep stickers as we approach the January 11 full implementation of cashless toll collection on all expressways set by government, and even after that.” SMC, which operates the STAR (Southern Tagalog Arterial Road) Tollway, South Luzon Expressway (SLEX), Skyway, NAIA Expressway (NAIX), and Tarlac-Pangasinan-La Union Expressway (TPLEX), said it converted all but one of its 66 dedicated “onsite” or toll plaza stations into 24/7 stickering stations. It also now operates 9 RFID centers, 18 gas station installation sites, 11 local government and Land Transportation Office (LTO) sites, and 44 mall sites. It also has stickering sites in 3 major transportation terminal

hubs, 2 home builders depots and 3 showrooms. Eleven out of 156 installation sites are by appointment to manage traffic congestion in the areas. Ang said that the opening of more “off-site” stickering stations, including those in malls and government offices, was a key part of the company’s strategy to reach more non-regular users of its toll roads, concentrated mostly in the south. It will be recalled that a surge in non-regular expressway users trying to beat the government’s deadline, along with a shortage of RFID stickers—manufactured by suppliers abroad who also had to contend with pandemic restrictions in their countries—contributed to long lines experienced in October and November last year. Ang said that while the company is expecting an uptick in RFID installation towards the end of January 11, the company is confident that there will no longer be long lines similar to the ones experienced previously, as the government’s original deadline, and extended deadline, approached. “With the amount of stickers we have already issued over the past few months, particularly from November through December when we started increasing the number of stations, coupled with now 156 total RFID stations that are well spread out through Metro Manila and neighboring cities and provinces, we see no major problems in serving the remaining number of motorists without stickers yet,” Ang said. “But of course, we want to reiterate that our installation activities will continue even after January 11. There is no need to panic and rush to the stations. We will retain our installation activities and even expand programs to reach villages and barangays.”

Mitsubishi ties up with Aleph to sell lab-grown beef in Japan

itsubishi Corp. agreed to partner with Israel’s Aleph Farms Ltd. to lay the groundwork for bringing lab-grown beef to Japan, where demand for meat is growing. The two companies will work on tailoring Aleph’s beef—grown in vats from muscle cells of living animals—to the tastes and nuances of Japanese consumers and regulatory bodies, Aleph’s Chief Executive Officer, Didier Toubia, said in an interview from his office in Rehovot, Israel. They would then use Mitsubishi’s manufacturing capabilities to scale up production and distribution, he said. Aleph, whose investors include American food giant Cargill Inc., plans to sell its initial batch of labgrown meat to consumers in Asia next year, with Japan being “high on the list” of target countries, Toubia said. Toubia declined to provide further details about the companies’ arrangement or plans to obtain regulatory approval. Mitsubishi wants to examine the potential of the biomeat market by becoming an insider in the industry, a company spokesman said on Tuesday. The partnership reflects the recent strides made by the so-called cultivated meat industry, which arose mainly in response to animal rights and environmental concerns. Aleph is among some 60 startups jockeying to sell meat or poultry that bypass the abattoir and modern, industrial-scale farming, and coun-

tries are starting to open pathways to consumers. Tokyo-based Mitsubishi, which had $15.6 billion in food sales in the 12 months through March, is tapping an industry that’s expected to grow. The cell-based meat market is projected to reach $140 billion in the next decade, according to forecasts compiled by Blue Horizon Corp., which invests in alternative proteins. That’s still nowhere near the size of the meat industry, which was $1.3 trillion last year, according to Global Data. High production costs and consumer skepticism over taste and health implications are among the biggest barriers to accelerated growth. Governments must also be convinced. Last month, Singapore became the first nation to approve the sale of cultured meat. Israeli Prime Minister Benjamin Netanyahu is supportive of the sector -- he visited an Aleph factory last month and tried its cultivated steak as part of his initiative to promote the country’s startups in the sector. Still, Aleph isn’t rushing its product to market, and is particularly mindful of the specific preferences of the Japanese market, famed for its Wagyu beef. “We might be the third or fourth company to release a product, but that’s because we’re focused on consumer acceptance,” Toubia said. “They have high expectations for their meat, and we want to get it right.” Bloomberg News

Companies BusinessMirror

Wednesday, January 6, 2021

PSE STOCK QUOTATIONS

January 5, 2021

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

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

43.15 102.3 81.95 24.7 6.01 10.36 46.5 28.45 53.7 95.55 18.5 130 71.95 0.95 34 0.64 3.95 6.9 1.56 0.37 775 0.7 152.4 1.04

43.5 102.4 82.1 24.9 8.39 10.38 46.55 28.5 54.7 118 18.6 130.2 72 0.96 36 0.71 3.98 7.34 1.58 0.385 800 0.72 153 1.09

43.1 104.5 82.35 24.6 5.96 10.68 47.95 29 54.6 95.55 18.7 133 71.95 0.96 34.5 0.72 3.95 6.9 1.55 0.375 775 0.72 153 1.04

43.2 104.5 82.35 25 5.96 10.68 47.95 29.1 54.8 95.55 18.9 133.2 71.95 0.97 36 0.72 4.09 6.9 1.6 0.385 775 0.72 153 1.04

43.1 101.6 81 24.6 5.96 10.24 46.25 28.45 53.6 95.55 18.5 129 70 0.91 33.5 0.71 3.95 6.9 1.52 0.37 775 0.67 152.4 1.04

43.1 102.4 82.1 24.7 5.96 10.36 46.55 28.5 53.6 95.55 18.5 130.2 71.95 0.95 35 0.71 3.96 6.9 1.56 0.385 775 0.7 152.4 1.04

1,700 73,380 4,806,590 492,907,513 3,474,050 284,944,423.50 30,600 755,630 200 1,192 826,800 8,586,278 5,470,200 255,255,200 256,100 7,352,760 3,370 183,341 10 955.5 27,100 505,314 615,970 80,249,633 17,060 1,214,567.50 51,000 48,520 132,600 4,555,835 2,000 1,430 233,000 928,190 200 1,380 750,000 1,158,700 540,000 203,150 30 23,250 631,000 445,500 7,510 1,148,223 30,000 31,200

-157,380,138 95,334,182.50 417,430 -1,531,176 -32,009,810 -490,025 -56,700.00 197,828 16,800 -3,800 -14,400 306,000 -

INDUSTRIAL AC ENERGY 9.58 9.59 10.52 11.28 9.52 9.58 66,780,200 680,856,958 1.28 1.29 1.32 1.32 1.27 1.28 2,141,000 2,746,300 ALSONS CONS ABOITIZ POWER 27.1 27.35 27 27.35 26.6 27.35 1,961,500 53,223,455 - - - - - - - - BASIC ENERGY 27.9 28.2 28.3 28.35 27.75 28.2 981,000 27,431,185 FIRST GEN FIRST PHIL HLDG 76.3 76.5 77.2 78 76.3 76.5 59,590 4,568,872.50 296.2 299.2 295 299.2 288.8 299.2 281,440 82,710,446 MERALCO MANILA WATER 16.78 17 16.24 17 15.8 17 4,503,000 75,224,498 PETRON 3.8 3.83 3.98 3.98 3.76 3.8 3,902,000 15,080,740 3.5 3.51 3.6 3.6 3.5 3.5 29,000 102,700 PETROENERGY PHX PETROLEUM 11.9 12.26 12.3 12.3 11.9 12.26 162,300 1,954,440 21.1 21.15 20.95 21.4 20.8 21.1 325,900 6,855,120 PILIPINAS SHELL 9.8 9.88 9.72 9.9 9.72 9.8 591,300 5,776,705 SPC POWER VIVANT 14 14.8 14.8 14.8 14.8 14.8 1,000 14,800 7.75 7.87 7.84 7.99 7.75 7.87 1,032,800 8,127,132 AGRINURTURE 3.33 3.4 3.44 3.44 3.33 3.4 1,121,000 3,763,980 AXELUM BOGO MEDELLIN 73.6 77.95 73.4 77.95 73.4 77.95 30 2,293 14.2 15.3 14.2 14.2 13.02 14.2 11,500 159,346 CNTRL AZUCARERA CENTURY FOOD 18.04 18.14 17.92 18.38 17.8 18.14 2,488,200 44,962,462 DEL MONTE 7.27 7.34 7.26 7.34 7.21 7.27 160,200 1,160,232 7.44 7.45 7.59 7.59 7.39 7.44 4,661,000 34,494,549 DNL INDUS EMPERADOR 10.16 10.18 10.2 10.22 10.16 10.18 3,084,400 31,419,162 67 67.2 66.8 67.4 65 67 266,040 17,748,866.50 SMC FOODANDBEV 0.67 0.68 0.69 0.69 0.67 0.67 604,000 406,120 ALLIANCE SELECT FRUITAS HLDG 1.64 1.65 1.68 1.68 1.6 1.65 39,161,000 64,198,010 50.35 50.4 52.8 52.8 50.3 50.35 2,080 105,471.50 GINEBRA 193.6 194.9 194 194.9 192.5 194.9 513,300 99,353,548 JOLLIBEE LIBERTY FLOUR 38.5 39.65 39.65 39.65 38.15 39.65 2,600 102,425 8.06 8.39 8.03 8.04 8.03 8.04 2,800 22,506 MACAY HLDG MAXS GROUP 7.28 7.29 6.94 7.28 6.94 7.28 731,200 5,252,827 MG HLDG 0.239 0.24 0.235 0.265 0.235 0.24 13,000,000 3,263,980 7.6 7.63 7.6 7.63 7.5 7.6 122,000 922,680 SHAKEYS PIZZA ROXAS AND CO 1.29 1.3 1.3 1.32 1.28 1.3 4,335,000 5,610,530 4.54 4.77 4.53 4.53 4.53 4.53 2,000 9,060 RFM CORP 1.65 1.66 1.66 1.66 1.66 1.66 55,000 91,300 ROXAS HLDG SWIFT FOODS 0.122 0.124 0.123 0.123 0.122 0.122 900,000 109,810 152.2 152.9 152.3 153.3 148.5 152.9 752,760 114,370,485 UNIV ROBINA VITARICH 0.96 0.97 0.93 0.98 0.91 0.97 10,194,000 9,642,710 VICTORIAS 2.34 2.4 2.39 2.4 2.39 2.4 6,000 14,390 52.3 55.4 52.4 55.65 51.1 55.65 3,010 156,276.50 CONCRETE A CONCRETE B 55 59.65 54.8 59.9 54.7 59.8 1,120 61,523 1.44 1.45 1.46 1.48 1.43 1.44 7,059,000 10,226,770 CEMEX HLDG 5.11 5.19 5.05 5.16 5.02 5.11 150,200 762,034 DAVINCI CAPITAL EAGLE CEMENT 14.1 14.5 14.4 14.5 14.1 14.5 542,200 7,713,496 7.1 7.2 7.57 7.57 7.2 7.2 1,559,800 11,550,021 EEI CORP 7.37 7.4 7.4 7.45 7.3 7.4 3,060,800 22,511,989 HOLCIM MEGAWIDE 7.42 7.43 7.65 7.65 7.37 7.42 4,345,900 32,312,073 9.54 10 10 10 10 10 49,500 495,000 PHINMA TKC METALS 0.93 0.95 0.95 0.95 0.91 0.93 289,000 265,870 0.99 1 1.08 1.08 1 1 8,028,000 8,212,360 VULCAN INDL 1.8 1.81 1.83 1.83 1.78 1.8 473,000 852,650 CROWN ASIA EUROMED 2.32 2.4 2.17 2.45 2.14 2.32 1,819,000 4,044,640 LMG CORP 4.4 4.83 4.4 4.4 4.4 4.4 20,000 88,000 4.5 4.69 4.42 4.42 4.41 4.41 6,000 26,480 MABUHAY VINYL PRYCE CORP 5.25 5.45 5.22 5.5 5.2 5.45 62,800 327,304 22.6 22.65 22.85 22.85 22.55 22.55 67,800 1,531,695 CONCEPCION 2.61 2.62 2.53 2.62 2.5 2.62 10,387,000 26,791,680 GREENERGY INTEGRATED MICR 9.38 9.5 9.4 9.88 9.32 9.38 2,292,800 22,008,750 1.18 1.2 1.21 1.21 1.15 1.2 1,221,000 1,445,760 IONICS PANASONIC 5.12 5.43 5.12 5.44 5.12 5.44 200 1,056 1.45 1.49 1.54 1.54 1.45 1.45 3,927,000 5,816,150 SFA SEMICON 6.66 6.67 6.92 6.92 6.55 6.66 3,324,600 22,304,357 CIRTEK HLDG

27,237,652 -55,040 13,562,545 7,562,630 -3,082,055 17,785,282 -1,661,180.00 -724,030 328,620 104,125 50,750 -282,090 2,196,050 -43,770 3,630,868 636,508.00 4,760,263 97,640 -4,849,986 1,754,385 -496,550 -215,346 46,560 -29,280 -8,077,881 71,760 85,510 -6,380,666 -6,996,057 -2,423,000 -2,472,730 10,000 45,560 19,800 -15,630 -363,350 -1,710,550 -4,494,016 73,490 357,820 -762,845

HOLDING & FRIMS

ABACORE CAPITAL ASIABEST GROUP AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL AYALA LAND LOG ANSCOR ANGLO PHIL HLDG ATN HLDG A ATN HLDG B COSCO CAPITAL DMCI HLDG FILINVEST DEV GT CAPITAL HOUSE OF INV JG SUMMIT LODESTAR LOPEZ HLDG LT GROUP MABUHAY HLDG MJC INVESTMENTS METRO PAC INV PACIFICA HLDG PRIME MEDIA SOLID GROUP SYNERGY GRID SM INVESTMENTS SAN MIGUEL CORP SOC RESOURCES TOP FRONTIER WELLEX INDUS ZEUS HLDG

0.72 9.61 821 47.45 10.04 3.47 6.41 0.78 0.85 0.84 5.45 5.61 8.91 559.5 3.92 70.55 0.8 3.72 12.98 0.51 1.8 4.22 3.15 0.85 1.17 230 1,047 129.1 0.74 135 0.218 0.18

0.73 9.96 826 47.5 10.06 3.48 6.6 0.8 0.86 0.89 5.48 5.65 9.25 560 3.95 71.35 0.81 3.73 13 0.53 1.9 4.26 3.19 0.9 1.18 249 1,050 129.2 0.77 137 0.227 0.184

0.66 9.8 832 46.7 10.26 3.76 6.6 0.8 0.85 0.85 5.62 5.68 9.4 585 4 70.95 0.82 3.73 12.94 0.51 1.9 4.21 3.21 0.85 1.19 236 1,064 131.9 0.79 139 0.214 0.176

0.73 10.18 832 47.5 10.28 3.8 6.77 0.8 0.87 0.85 5.63 5.72 9.46 590 4 72.85 0.83 3.73 13.04 0.53 1.92 4.26 3.21 0.86 1.2 249 1,067 132 0.8 139.8 0.223 0.184

0.65 9.59 821 46.5 10 3.4 6.58 0.75 0.84 0.84 5.45 5.58 8.88 557.5 3.92 70.3 0.8 3.72 12.9 0.51 1.9 4.18 3.12 0.83 1.18 235 1,046 129.1 0.76 135 0.214 0.176

0.72 9.96 821 47.5 10.06 3.48 6.58 0.79 0.86 0.85 5.45 5.65 9.25 560 3.92 71.35 0.8 3.72 13 0.53 1.92 4.26 3.15 0.85 1.18 249 1,050 129.1 0.77 135 0.218 0.181

70,680,000 41,800 141,540 829,800 6,669,300 15,694,000 9,900 149,000 2,306,000 123,000 2,598,100 7,658,800 180,200 531,420 113,000 1,226,330 210,000 3,757,000 749,200 98,000 9,000 28,166,000 199,000 362,000 30,000 1,300 122,465 131,530 194,000 2,700 290,000 1,060,000

49,715,180 407,596 116,472,470 39,172,750 67,335,892 57,866,040 65,233 117,110 1,965,750 103,960 14,294,396 43,095,377 1,625,458 301,707,155 449,270 87,376,201 170,730 13,976,570 9,729,754 50,060 17,180 118,608,610 629,890 305,120 35,850 308,040 128,706,670 17,124,298 148,730 372,730 63,440 191,120

PROPERTY

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

0.62 7.5 41 1.18 28.95 1.68 0.89 0.78 0.14 5.6 5.01 0.44 0.335 14.92 7.34 0.31 0.082 1.09 0.92 7.8 1.37 0.72 4.06 0.62 0.39 1.56 21.1 0.305 1.56 2.68 1.94 39.4 4.06 1.76 4.55

0.63 7.8 41.2 1.22 29 1.69 0.9 0.81 0.142 5.95 5.06 0.445 0.34 14.96 7.35 0.315 0.085 1.1 0.93 8 1.38 0.74 4.07 0.63 0.425 1.57 21.2 0.31 1.59 2.7 1.98 39.5 4.16 1.79 4.57

0.63 7.81 41.9 1.26 29.25 1.69 0.9 0.81 0.146 5.96 5.15 0.44 0.35 15.68 7.66 0.31 0.083 1.1 0.93 7.83 1.37 0.73 4.17 0.64 0.39 1.4 21.3 0.31 1.56 2.7 2 39.25 4.16 1.7 4.61

0.65 7.81 41.9 1.26 29.3 1.7 0.92 0.81 0.146 5.96 5.19 0.445 0.35 15.76 7.66 0.31 0.085 1.12 0.93 8.1 1.38 0.77 4.17 0.67 0.39 1.58 21.3 0.315 1.6 2.7 2.02 39.8 4.19 1.85 4.61

0.61 7.5 41 1.17 28.95 1.67 0.88 0.81 0.14 5.5 5 0.435 0.335 14.9 7.34 0.305 0.081 1.09 0.92 7.77 1.35 0.73 4.02 0.62 0.39 1.37 20.7 0.3 1.56 2.68 1.92 39.15 4.05 1.69 4.53

0.62 7.8 41 1.18 29 1.7 0.9 0.81 0.142 5.95 5.06 0.445 0.34 14.92 7.35 0.31 0.082 1.1 0.92 8 1.38 0.74 4.07 0.63 0.39 1.56 21.2 0.31 1.59 2.68 1.98 39.5 4.06 1.79 4.55

2,618,000 4,800 5,308,400 223,000 2,695,600 298,000 2,914,000 5,000 1,790,000 10,500 1,119,200 6,710,000 2,280,000 2,373,000 236,400 830,000 1,980,000 22,501,000 1,367,000 43,900 5,058,000 36,000 27,131,000 203,128,000 180,000 2,387,000 4,286,400 710,000 173,000 50,000 1,710,000 8,630,200 173,000 5,523,000 5,474,000

1,404,610 -10,669.00 -43,610,920 22,442,695 10,724,786 -4,423,130 50,040 17,850 -4,576,935 -238,425 63,075 -43,920,585 -199,500 5,341,580.50 -10,705,870 -2,247,142 -1,553,550 850 -2,615,135 -1,174,323 -13,980 -

1,628,360 37,420 219,215,195 263,770 78,372,065 501,700 2,601,790 4,050 251,330 58,845 5,710,241 2,943,650 774,150 36,043,822 1,759,949 254,650 162,760 24,819,730 1,263,230 348,484 6,899,340 26,640 110,559,400 131,356,100 70,200 3,580,140 90,061,120 216,150 272,870 134,800 3,322,220 340,778,825 707,770 9,728,090 24,957,650

9,450 20,250 16,917,860 -159,300 -66,207,785 25,470 10,200 142,860.00 -451,716 144,700 -7,193,340 9,150 14,630 3,264,620 48,152 509,390 -19,240 -5,427,210 5,592,890 -3,000 -6,060,430 -102,580 9,650 134,380,605 -20,800 -197,620 -1,061,940

SERVICES ABS CBN 13.68 13.7 14 15 13.5 13.7 4,443,700 62,793,196 5.9 5.95 6.02 6.02 5.8 5.95 1,051,100 6,181,108 GMA NETWORK MANILA BULLETIN 0.44 0.46 0.44 0.46 0.44 0.44 460,000 204,300 11 12 11.6 12.5 11.6 12.5 4,900 59,530 MLA BRDCASTING 2,014 2,020 2,020 2,026 2,010 2,020 70,200 141,617,470 GLOBE TELECOM PLDT 1,374 1,378 1,364 1,381 1,364 1,378 100,330 138,033,920 0.167 0.168 0.18 0.204 0.163 0.167 4,952,760,000 913,126,340 APOLLO GLOBAL CONVERGE 14.9 14.96 15.08 15.08 14.78 14.96 3,928,800 58,574,476 DFNN INC 5.09 5.1 5.12 5.25 5 5.09 256,900 1,303,881 13.4 13.5 13.92 14.74 12.86 13.4 161,466,100 2,240,861,756 DITO CME HLDG IMPERIAL 1.57 1.65 1.62 1.65 1.56 1.65 92,000 144,720 0.117 0.12 0.12 0.128 0.116 0.117 3,030,000 364,760 ISLAND INFO 1.92 2 1.92 2.04 1.92 2.04 2,000 3,960 JACKSTONES NOW CORP 4.08 4.09 4.24 4.24 4.05 4.08 13,266,000 54,528,200 0.345 0.35 0.345 0.355 0.34 0.35 25,570,000 8,835,900 TRANSPACIFIC BR 2.94 2.95 3.08 3.08 2.95 2.95 1,427,000 4,238,160 PHILWEB 2GO GROUP 8.27 8.49 8.25 8.6 8.05 8.27 210,200 1,736,629 15.16 15.58 15.16 15.16 15.16 15.16 8,300 125,828 ASIAN TERMINALS CHELSEA 5.25 5.26 5.78 5.79 5.21 5.25 9,339,400 51,419,101 CEBU AIR 46.4 46.45 47.7 47.7 45.15 46.4 1,452,000 67,163,205 125.5 126 126 126 123.6 126 661,070 82,809,034 INTL CONTAINER LBC EXPRESS 15.44 15.98 15.5 15.5 15.44 15.5 3,200 49,540 0.97 1 0.97 1 0.97 0.97 19,000 18,590 LORENZO SHIPPNG 6.18 6.19 6.5 6.5 6.06 6.19 8,401,200 52,096,577 MACROASIA METROALLIANCE A 1.88 1.97 1.88 1.99 1.85 1.99 389,000 737,770 6.51 6.56 6.7 6.7 6.5 6.56 55,700 365,182 PAL HLDG 1.6 1.61 1.53 1.62 1.53 1.6 5,945,000 9,415,850 HARBOR STAR ACESITE HOTEL 1.4 1.45 1.4 1.45 1.4 1.45 12,000 17,300 0.042 0.043 0.039 0.042 0.038 0.042 129,700,000 5,286,800 BOULEVARD HLDG WATERFRONT 0.59 0.6 0.59 0.61 0.57 0.6 7,739,000 4,567,030 CENTRO ESCOLAR 7.4 7.5 7 7.5 6.75 7.5 141,600 1,020,674 584 629.5 584 584 584 584 20 11,680 FAR EASTERN U IPEOPLE 8.12 8.97 8.05 8.05 8.05 8.05 6,200 49,910 0.44 0.445 0.445 0.45 0.44 0.445 6,040,000 2,687,250 STI HLDG 5.7 5.8 5.65 5.79 5.6 5.7 76,100 432,563 BERJAYA BLOOMBERRY 8.14 8.15 8.34 8.34 8.05 8.15 3,142,100 25,752,590 2.1 2.11 2.03 2.05 2.01 2.05 179,000 362,690 PACIFIC ONLINE LEISURE AND RES 1.89 1.9 1.9 1.93 1.87 1.9 594,000 1,117,930 MANILA JOCKEY 2.26 2.3 2.32 2.32 2.3 2.3 76,000 175,000 3.13 3.14 3.1 3.33 3.09 3.14 56,130,000 180,622,850 PH RESORTS GRP PREMIUM LEISURE 0.46 0.465 0.455 0.465 0.45 0.46 14,570,000 6,644,050 PHIL RACING 6.71 6.98 6.71 6.98 6.71 6.98 2,000 13,690 8.6 8.61 9 9 8.52 8.6 953,400 8,208,345 ALLHOME METRO RETAIL 1.43 1.44 1.47 1.47 1.42 1.43 3,342,000 4,831,790 38.4 39 40.85 40.85 38.4 38.4 5,490,600 215,924,415 PUREGOLD 62.9 63 64.75 64.75 62.85 63 327,730 20,781,250.50 ROBINSONS RTL PHIL SEVEN CORP 120.4 121 120 123 120 120.4 35,760 4,304,108 1.41 1.43 1.47 1.47 1.39 1.43 10,573,000 15,048,630 SSI GROUP WILCON DEPOT 18 18.02 17.98 18.18 17.8 18 4,265,600 76,780,438 APC GROUP 0.405 0.41 0.405 0.425 0.405 0.41 2,580,000 1,067,250 7.1 7.2 7.35 7.35 7.02 7.1 52,600 371,775 EASYCALL GOLDEN BRIA 430 450 425 450 425 450 230 102,990 IPM HLDG 6.5 6.78 6 7.4 6 6.79 3,000 18,487 1.34 1.35 1.41 1.47 1.28 1.34 251,120,000 349,465,590 PRMIERE HORIZON

136,420 27,514,345 8,369,110 21,104,006 126,459 -59,439,728 2,583,770 -24,800.00 -56,660 -293,013 -807,961 -7,563,275 -2,049,077 -920,182 670 -184,400 -58,500 -610 7,000 -609,750 -8,297,315 38,000 -319,680 -25,750 2,285,038 52,560 -85,084,305 -4,018,480 1,324,959 -437,300 44,423,398 17,550 -4,500 3,062,940

MINING & OIL ATOK 7.8 8 8.15 8.19 7.78 8 92,200 724,577 APEX MINING 1.82 1.83 1.84 1.88 1.81 1.82 20,578,000 38,047,970 -1,348,790 0.0031 0.0032 0.003 0.0034 0.0029 0.0031 23,664,000,000 74,942,200 -567,400 ABRA MINING 6.8 6.81 6.9 6.9 6.7 6.8 349,100 2,353,845 -323,650 ATLAS MINING BENGUET A 3.14 3.17 3.19 3.25 3.14 3.2 154,000 485,550 3.05 3.1 3.05 3.05 3.05 3.05 140,000 427,000 BENGUET B COAL ASIA HLDG 0.28 0.285 0.285 0.29 0.28 0.285 380,000 107,850 2.88 2.91 2.88 2.91 2.55 2.91 242,000 683,760 270,310 CENTURY PEAK 8.13 8.18 8.19 8.19 8.05 8.18 52,600 426,663 DIZON MINES FERRONICKEL 2.95 2.99 2.98 3.1 2.83 2.99 36,964,000 111,710,760 2,716,850 0.28 0.295 0.29 0.3 0.28 0.29 1,010,000 296,050 GEOGRACE 0.179 0.18 0.19 0.191 0.175 0.18 228,170,000 42,416,630 LEPANTO A LEPANTO B 0.18 0.188 0.19 0.195 0.18 0.18 4,150,000 775,660 -76,000 0.01 0.011 0.011 0.011 0.01 0.01 87,300,000 881,000 MANILA MINING A 0.01 0.011 0.01 0.011 0.01 0.011 8,700,000 92,800 MANILA MINING B MARCVENTURES 1.7 1.71 1.67 1.75 1.67 1.7 6,929,000 11,866,750 245,360 3.15 3.16 3.06 3.2 3.06 3.15 565,000 1,770,000 -123,070 NIHAO NICKEL ASIA 5.65 5.66 5.74 5.75 5.39 5.66 10,508,100 58,734,774 15,834,964 OMICO CORP 0.375 0.385 0.38 0.38 0.375 0.375 1,240,000 471,100 0.81 0.84 0.86 0.89 0.81 0.84 2,161,000 1,834,570 -56,730 ORNTL PENINSULA PX MINING 5.46 5.48 5.5 5.8 5.44 5.48 4,737,000 26,190,194 2,866,507 13.1 13.14 14.1 14.1 12.8 13.14 5,091,400 68,089,422 -10,214,540 SEMIRARA MINING 0.0057 0.006 0.0059 0.0059 0.0057 0.0057 21,000,000 123,500 UNITED PARAGON ACE ENEXOR 13.12 13.2 15 15 12.68 13.12 1,396,500 19,685,024 421,610 0.011 0.012 0.011 0.012 0.011 0.012 115,600,000 1,306,200 ORNTL PETROL A 0.012 0.013 0.013 0.013 0.012 0.012 3,600,000 43,600 ORNTL PETROL B PHILODRILL 0.011 0.012 0.012 0.012 0.011 0.011 16,900,000 191,100 11.52 11.62 12.2 12.2 11.4 11.52 988,500 11,563,844 -138,474 PXP ENERGY PREFFERED HOUSE PREF A 100.1 102 100.1 100.1 100.1 100.1 530 53,053 515 520 515 515 515 515 10 5,150 AC PREF B1 AC PREF B2R 501 514.5 503 514.5 503 514.5 3,030 1,524,435 102 105 106 106 106 106 460 48,760 CPG PREF A 108.1 112 108 112 108 112 360 38,920 FGEN PREF G FPH PREF C 500 517.5 500 500 500 500 30 15,000 100.5 101.5 100.4 102 100.4 102 16,980 1,726,033 MWIDE PREF MWIDE PREF 2A 100 100.9 100 100.6 100 100 3,500 350,150 100 101.5 100 100 100 100 1,000 100,000 -100,000 MWIDE PREF 2B 103 105.5 103.6 104 103.6 103.6 5,000 518,040 PNX PREF 3B PNX PREF 4 1,009 1,010 1,008 1,010 1,008 1,010 5,830 5,887,400 1,001 1,027 1,000 1,029 1,000 1,001 230 230,410 PCOR PREF 2B 1,082 1,108 1,081 1,081 1,081 1,081 30 32,430 PCOR PREF 3B SMC PREF 2C 77.85 78.5 78.75 78.75 77.85 77.85 3,570 279,598 77.25 79 77.25 77.25 77.25 77.25 78,200 6,040,950 SMC PREF 2F 75.3 75.5 75.5 75.5 75.5 75.5 16,550 1,249,525 18,875 SMC PREF 2G SMC PREF 2H 75.8 76 76 76 76 76 20,000 1,520,000 77 78.85 77 77 77 77 400 30,800 SMC PREF 2I SMC PREF 2J 75.5 76 75.2 76 75.2 75.5 41,700 3,167,990 -37,600 SMC PREF 2K 76 76.2 75.5 76.2 75.1 76.2 65,450 4,968,110 -38,000 PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 13.6 14 13.5 14.5 13.5 14 548,700 7,696,324 3,254,768 5.8 5.84 5.82 5.95 5.8 5.8 816,200 4,761,451 -2,909,557 GMA HLDG PDR WARRANTS LR WARRANT 0.97 0.98 0.99 0.99 0.95 0.97 351,000 338,280 SMALL & MEDIUM ENTERPRISES ALTUS PROP 12.04 12.12 12.2 12.4 12 12.04 413,500 4,999,014 -580,548 3.41 3.42 3.5 3.55 3.41 3.42 6,756,000 23,361,320 -543,430 ITALPINAS KEPWEALTH 6.21 6.29 6.1 6.21 6.1 6.21 129,800 799,885 -3,666 2.61 2.7 2.61 2.61 2.61 2.61 12,000 31,320 MAKATI FINANCE 7.38 7.39 8.01 8.56 7.35 7.38 110,597,500 882,999,781 8,295,186 MERRYMART EXHANGE TRADE FUNDS FIRST METRO ETF 107.4 108.2 109 109 107 107.4 20,700 2,237,000 4,492

www.businessmirror.com.ph

Shakey’s inks franchising deal with Singapore firm

By Lorenz S. Marasigan

@lorenzmarasigan

hakey’s Pizza Asia Ventures Inc. will soon introduce the pizza parlor in Singapore, after it signed a franchising agreement with Singaporean Brenrich Pte. Ltd. The 7-year deal will see the partners opening Shakey’s stores in Singapore, with the first one set for opening either in the second quarter or third quarter of 2021 at the Lucky Plaza Mall, along the iconic Orchard Road. “We are thrilled to restart our international franchise journey in Singapore, which is at the forefront of global recovery, and we are fortunate

to have Brenrich as our franchisee partner in the Lion City, given their rich experience in the restaurant industry,” Shakey’s President Vicente Gregorio said. He noted that the initiative to open its first branch in Singapore was driven by opportunities that the pandemic presented. “While the Covid-19 pandemic is presenting challenges to food compa-

nies like Shakey’s, it is also serving as an impetus to turn a crisis into an opportunity,” Gregorio said. Brenrich Director Wong Ban Ming said he was “very happy and excited to bring Shakey’s to Singapore.” “We are certain that many locals, and especially the overseas Filipinos, miss Shakey’s, and this will bring back a sense of nostalgia,” he said. Shakey’s currently has 3 stores outside the Philippines. “The primary target market initially will be Filipinos living in the city-state. But the Lucky Plaza outlet is also seen to attract Singaporeans, as it is located along a busy business district,” Shakey’s Vice President for International Operations and Franchising Jose Arnold Alvero noted. Shakey’s opened its first store in the Philippines in 1975 and now has 242 stores across the Philippines.

“With the worst of this crisis hopefully now behind us, we are setting our medium and long-term priorities, establishing plans to win in a post-Covid world by building a stronger and better Shakey’s. This includes strengthening our presence in our primary market, the Philippines, but also opportunistically expanding into other key international locations through strong partnerships with experienced and guest-centric operating partners,” Gregorio said. Shakey’s reported in November that its losses deepened in January to September to P461.91 million, a reversal of the P550.42-million income it recorded in 2019. The company also said revenues for the January-to-September period were slashed by more than a third to P3.82 billion from P5.89 billion in 2019.

Gojek in talks with Tokopedia for $18-B merger

ndonesia’s ride-hailing and payments giant Gojek is in advanced discussions about merging with local e-commerce pioneer PT Tokopedia, ahead of a planned initial public offering of the combined entity, according to people with knowledge of the matter. The country’s two most valuable startups have signed a detailed term sheet to conduct due diligence of each other’s business, said the people, who asked not to be named as the discussions are private. Both sides see potential synergies and are keen to close the deal as soon as possible in coming months, they said. The merged entity would create an Indonesian powerhouse with a valuation of about $18 billion, with Gojek and Tokopedia pegged at around $10.5 billion and $7.5 billion respectively in the talks, according to the people involved. Their businesses range from ride-hailing and payments to online shopping and delivery—a local mashup of Uber Technologies Inc., PayPal Holdings Inc. Amazon.com Inc., and DoorDash Inc. It plans to go public in the United States and Indonesia. “This is potentially a blockbuster deal,” said Usman Akhtar, a partner at Bain & Co. in Singapore. “The deal would have a lot of impact outside of these two companies and have ripple effects that aren’t even all known right now.” Gojek and Tokopedia have considered a potential merger since 2018, but discussions accelerated after deal talks between Gojek and arch-rival Grab Holdings Inc. reached an impasse, the people said. Grab Chief Executive Officer Anthony Tan continues to resist pressure from SoftBank Group Corp.’s Masayoshi Son to give up some control in a combined entity with Gojek, said the people. Southeast Asia’s two most valuable startups—together worth about $25 billion—held

on-and-off talks to combine after years of fierce competition in ride-hailing, food delivery and financial technology. As recently as December, the companies were said to have made substantial progress in working out a deal to combine, people with knowledge of the talks told Bloomberg News at the time. But they clashed over how to manage Indonesia, the key market in the region. Son, who had been a steadfast supporter of Tan in the past, is losing patience with the Grab co-founder’s reluctance to cede some control and is now supporting a merger between Gojek and SoftBank-backed Tokopedia, the people said. The two home-grown tech pioneers have common investors, including Google, Temasek Holdings Pte and Sequoia Capital India. Tokopedia is also backed by Alibaba Group Holding Ltd., which has its own e-commerce unit in the region, Lazada. Representatives of Gojek and Tokopedia declined to comment. The firms are currently discussing merger ratios that would give each side substantial equity ownership, the people said. Founders of the two companies have been friends since their inception more than 10 years ago and anticipate an amicable alliance. Grab and Gojek discussions were more contentious and had not progressed enough for them to sign a term sheet, the people said. A combined Gojek and Tokopedia would dominate in Indonesia, one of the world’s fastestgrowing internet economies. Their planned USlisting would provide global investors an alternative to Sea Ltd., the only major Southeast Asian internet company listed in the US Sea’s shares climbed almost 400 percent last year, boosted by the growing popularity of its mobile gaming and online shopping platform. Bloomberg News

FWD Insurance app rewards financial tips

HARING of financial life skills and promoting the importance of protecting one’s future will pay off with a digital ecosystem launched by FWD Life Insurance Corp. (FWD Insurance). According to FWD Insurance President and Chief Executive Officer Li Hao Zhuang, their pioneering Affiliate Program is a “win-win” platform for everyone. By simply downloading the mobile app and completing the registration process for free, everyone has a chance to become an affiliate of the surety firm. The app, he noted, offers shareable financial knowledge, tools and solutions while also creating employment, with a goal to start a virtuous cycle that directly empowers people and improves protection inclusion. This initiative comes at a time when Filipinos are stretching their budgets amid the crisis they are facing today. With this, they can now avail of expert financial self-help, and even be an ambassador helping others increase their financial intelligence

quotient and start future-proofing with investments and life insurance by sharing inspiring posts with rewards. “The ensuing Covid-19 pandemic has made people more conscious about life and health issues, while economic uncertainty has stirred their interest in financial management and planning,” the company noted. Based on the recent report of the Bangko Sentral ng Pilipinas on the average vulnerability of Filipinos, only 48 percent have savings to lean on during hard times. Meanwhile, household out-of-pocket expenses for health financing rose to a whopping P379.7 billion in 2019, per the latest figures from the Philippine Statistics Authority. “We want to reduce the digital divide and address the protection gap in the country. Through FWD’s Affiliate app, we democratize financial education and protection and make it rewarding for everyone. It allows our customers to be rewarded for doing good, and we believe that is especially valuable in this time of need,” Zhuang said. Roderick L. Abad

mutual funds

January 5, 2021

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 229.01 -8.24% -8.47% -1.19% 0.97% ATRAM Alpha Opportunity Fund, Inc. -a 1.3375 -1.97% -5.8% 2.96% 2.18% ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.1599 -12.86% -12.23% -2.61% 1.01% Climbs Share Capital Equity Investment Fund Corp. -a 0.8073 -9.2% -7.48% n.a. 0.8% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.7462 -11.33% n.a. n.a. 0.63% First Metro Save and Learn Equity Fund,Inc. -a 4.9866 -5.56% -6.27% -0.94% 1.1% -9.46% -8.76% -4.75% First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.7657 0.87% MBG Equity Investment Fund, Inc. -a 102.13 -1.7% n.a. n.a. 1.4% PAMI Equity Index Fund, Inc. -a 47.2112 -7.07% -6.32% 0.49% 1.02% Philam Strategic Growth Fund, Inc. -a 492.7 -6.74% -6.29% -0.26% 0.94% Philequity Alpha One Fund, Inc. -a,d,5 1.1022 8.43% n.a. n.a. 1.91% Philequity Dividend Yield Fund, Inc. -a 1.1776 -7.57% -6.13% 0.34% 1.31% Philequity Fund, Inc. -a 35.0451 -6.69% -5.7% 1.04% 1.29% Philequity MSCI Philippine Index Fund, Inc. -a 0.9202 -8.76% n.a. n.a. 1.14% Philequity PSE Index Fund Inc. -a 4.829 -6.68% -5.88% 1.27% 1.01% Philippine Stock Index Fund Corp. -a 807.96 -6.46% -5.77% 1.18% 1.03% Soldivo Strategic Growth Fund, Inc. -a 0.7261 -13.53% -9.64% -3% 1.04% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.6561 -12.34% -7.76% -0.56% 0.98% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.9249 -6.72% -6.07% 1.06% 1.02% United Fund, Inc. -a 3.3486 -7.65% -5.18% 1.49% 0.98% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 108.4079 -6.42% -5.53% 1.93% 1.04% Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b $1.2031 16.7% 1.81% 6.21% 1.47% Sun Life Prosperity World Voyager Fund, Inc. -a $1.6813 22.25% 9.54% n.a. 0.72% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.6775 7.91% -3.92% -0.41% 0.7% ATRAM Philippine Balanced Fund, Inc. -a 2.2938 5.83% -2.6% 1.69% 0.63% First Metro Save and Learn Balanced Fund Inc. -a 2.6423 0.98% -1.74% -0.23% 0.71% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1997 -11.83% n.a. n.a. 0.71% NCM Mutual Fund of the Phils., Inc. -a 1.9754 1.01% -0.61% 2.22% 0.58% PAMI Horizon Fund, Inc. -a 3.8051 0.83% -1.41% 1.58% 0.57% Philam Fund, Inc. -a 17.0135 0.75% -1.45% 1.46% 0.59% 0.55% Solidaritas Fund, Inc. -a 2.1044 -0.55% -2.47% 1.15% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.5938 -6.47% -3.85% 0.29% 0.85% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 1.0261 1.6% n.a. n.a. 0.45% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.9549 -3.41% n.a. n.a. 0.79% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.9392 -4.67% n.a. n.a. 0.86% Sun Life Prosperity Dynamic Fund, Inc. -a 0.8936 -7.72% -4.58% -0.52% 0.71% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. - $0.03913 2.43% 2.69% 2.02% -0.03% PAMI Asia Balanced Fund, Inc. -b $1.1502 10.82% 2.26% 5.37% 0.67% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.529 15.99% 7.17% 7.82% 0.6% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.2062 6.89% 3.42% n.a. 0.55% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 371.2 3.71% 3.26% 2.86% 0.05% ATRAM Corporate Bond Fund, Inc. -a 1.9009 -0.09% -0.03% 0.11% 0.04% Cocolife Fixed Income Fund, Inc. -a 3.2148 3.15% 4.46% 4.83% 0.03% Ekklesia Mutual Fund Inc. -a 2.2969 3.22% 2.98% 2.48% 0.02% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4533 4% 3.36% 2.17% 0.02% Philam Bond Fund, Inc. -a 4.6338 5.87% 4.54% 3.22% 0.05% 1.3215 5.17% 4.5% 2.72% 0.04% Philam Managed Income Fund, Inc. -a,6 Philequity Peso Bond Fund, Inc. -a 4.002 5.71% 4.51% 3.25% 0.04% Soldivo Bond Fund, Inc. -a 1.0422 8.11% 4.09% 2.76% 0.07% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.2067 4.26% 4.89% 3.84% 0.2% Sun Life Prosperity GS Fund, Inc. -a 1.755 3.19% 4.2% 3.26% 0.06% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $484.25 3.41% 2.77% 2.95% 0.1% ALFM Euro Bond Fund, Inc. -a Є219.26 -0.22% 0.84% 1.24% 0.05% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2804 6.11% 4.12% 3.19% 0% 2.09% 1.83% 0% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0266 3.1% PAMI Global Bond Fund, Inc -b $1.0927 -0.23% 0.58% 0.81% -0.02% Philam Dollar Bond Fund, Inc. -a $2.5392 5.77% 4.07% 3.77% 0.2% Philequity Dollar Income Fund Inc. -a $0.062402 3.44% 2.94% 2.38% -0.02% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.238 2.18% 2.38% 2.66% 0.48% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 129.84 3.17% 3.35% 2.61% 0.03% First Metro Save and Learn Money Market Fund, Inc. -a 1.0482 1.68% n.a. n.a. 0.02% 2.54% 2.98% 2.61% 0.03% Sun Life Prosperity Money Market Fund, Inc. -a 1.2969 Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0526 1.47% 1.76% n.a. 0.02% Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 1.1305 n.a. n.a. n.a. 1.48% 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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Entrepreneur BusinessMirror

Editor: Vittorio V. Vitug • Wednesday, January 6, 2021 B3

Grappling with Covid-19 challenge: Entrep struggles to keep transient house biz afloat Cashless craze fuels PayMaya’s 2,000 percent YOY growth By Rizal Raoul S. Reyes @brownindio Contributor

ajor digital financial services frontrunner PayMaya has heeded the call of the times by enabling micro, small and medium enterprises (MSMEs) to thrive and survive during the pandemic period. As of end-November, the number of MSMEs utilizing PayMaya’s various digital payment acceptance solutions have grown exponentially by 2,000 percent year-on-year, signifying a sea change on how merchants are doing business as a way to cope from the economic effects of the pandemic. “With consumers now more conscious about health and safety, cashless has fast become the default preference of Filipino consumers. With this shift, PayMaya has readily enabled our MSMEs to pivot and thrive by providing digital payment capabilities as well as additional income opportunities through our various payment solutions,”said PayMaya President Shailesh Baidwan in a news statement. It launched the PayMaya Negosyo app in May in response to the surge in demand for cashless payments at the height of the lockdown as many merchants turned to digital. The app enables MSMEs to have their own merchant QR code in as fast as 24 hours. They can then readily accept cashless payments via QR, bank transfers, and through e-Wallets, using only their mobile phones. Aside from this, PayMaya helped MSMEs to generate additional income by selling mobile prepaid load or accepting bills payments through the same app. Since its launch, the PayMaya Negosyo app has been downloaded hundreds of thousands of times in the Google Play Store and has enabled MSMEs to instantly accept payments via chat, on their social-media pages, or through their online stores. Because of this development, PayMaya said the MSME segment now comprises over 95 percent of its total merchant base in 2020, compared to just 78 percent in 2019. Data from the Department of Trade and Industry (DTI) showed there are 6 million more microenterprises that have yet to formally register, and PayMaya is already enabling this segment through its various solutions. Aside from PayMaya Negosyo, the company also offers the PayMaya One Lite device for in-store card and e-Wallet payment acceptance, as well as digital payment tools such as Digital QR, Payment Links, and PayMaya Checkout payment gateway plugins which can easily be availed of by visiting http://pymy.co/BeAMerchant. “Today, MSMEs are getting smarter in utilizing all available sales channels and opportunities to reach their customers and offer their products and services. PayMaya’s ready businessin-a-box solutions have become a perfect partner for growth and recovery for many MSMEs as they look to navigate uncharted seas in the years to come,” said Baidwan. To further help the MSMEs capabilities and networking, PayMaya has also introduced innovative programs in close cooperation with DTI and private sector partners such as Go Negosyo. In October, PayMaya launched the “Sulong Negosyo” Program wherein MSMEs are provided with readybusiness-in-a-box tools such as the PayMaya Negosyo app, as well as marketing and rewards opportunities through PayMaya Negosyante Rewards. The program aims to help MSMEs accelerate their transition to e-commerce with the help of digital and cashless technologies.

By Roderick L. Abad

@rodrik_28

Contributor

NCE a sleepy town in Laguna, Pagsanjan is so famous for its majestic falls that almost every tourist could refer to it as the province’s main landmark. All throughout the year, the threedrop water fall is visited by both local and foreign travelers who want to witness its grandeur, take a plunge at its water, explore the cave behind it, or simply just marvel at the spectacular natural views. Apart from agriculture, tourism has been its major economic driver. From travel and tour businesses to hospitality, transportation, retail and food establishments, this industry has been generating a significant income for the local government and creating livelihood and employment opportunities for the people. Such vibrancy, however, was abruptly averted by an unprecedented health crisis. Little did every stakeholder know, the ensuing Covid-19 pandemic could be their downfall. But not for young entrepreneur Daniel Shum.

“We did what we can,” the 35-yearold businessman told the BusinessMirror, while referring to Shum’s Transient House, an accommodation facility he and his family own and operate for about a year now. Due to lack of accommodation facilities amid the constant growth of tourism in Pagsanjan, it took almost three decades before he decided to renovate the place they own since 1990 into a transient house. This homey place offers guests neatly kept six rooms fit for a couple (with bath tubs) or family. Its amenities and facilities include a veranda that overlooks parts of Pagsanjan, a luxurious KTV room, sauna, common dining areas, and future garden area. It’s a five-minute walk to the terminal of the “bancas” going to the world-renown falls. According to him, the business

YOUNG entrepreneur Daniel Shum leads the transient business of his family, which opened last year when the pandemic hit globally.

started to take off when his friend listed one of its rooms on Airbnb. From then on, they started to receive inquiries not only from within their locality but also in other parts of the country and even abroad. “I had a job in a different province at the time,” Daniel recalls how hard it was to keep his day-job with a booming business on the side. Seeing the steady occupancy plus the favorable online reviews from satisfied guests, he then decided

to handle it full-time as a general manager. Delighted at the sight of visitors coming in and out of their doorsteps, however, he did not imagine that this could end in so short a time when the government started to impose mid-March of last year community quarantines in Metro Manila and nearby provinces to curb the immediate spread of the virulent disease. “We managed to survive the first six months of lockdown because we were blessed with a long-term staying guest which lasted six months. While this was a huge help in revenue, it was not enough for us to survive. My family had to inject funds from outside the country to continue. Definitely, [it] was a loss of profit during these times,” he conceded. Unfazed by the impact of the pandemic, however, Daniel was creative enough to venture into another business that could help generate additional income to sustain the transient house without sacrificing the plight of the people who depend on it for work. “[I] even explored making putubumbong to sell online. I had two employees who I gave 13th month pays to during the lockdowns,” he shared. While waiting for the tourism industry’s reopening, he and his people never failed to spruce up the transient house. They regularly disinfected everything from beds to so-

fas, door knobs, and remote controls of tv sets in the rooms. Now that they have opened doors anew to visitors, health and safety measures are strictly observed. Alcohol dispensers are scattered all over the place. Likewise, they check the body temperatures of incoming patrons and have them write their contact details in log-in books for tracking purposes. He even hired recently a manager as they expect spiked bookings. “We definitely are ready as always and will always strive to give the needs of the guests at any time,” Daniel said, while citing the important lessons he has learned from the ongoing Covid-19 crisis and how he intends to apply these in the near future. “Just keep things basic and save money where you can.” As the new year ushered in, he is hopeful for the continued recovery of the entire local tourism industry and their transient business as well. “For Shum’s Transient House it will be business as usual and [this year] 2021 only better things can happen when our famous Pagsanjan Falls will resume accepting tourists,” he stressed. “We will improve our services for the convenience of our guests. We will start advertising more on social media and other platforms. And of course upgrade where we can.

Metro Retail Stores Group provides small businesses a platform to thrive

icro, small and medium enterprises are not only the backbone of the Philippine economy; they also bring growth to the communities where they are located. For these small businesses and the local communities to thrive and continually adapt, it is crucial for them to receive support and patronage. In its commitment to support and empower Filipino micro-entrepreneurs, Cebu-based retailer Metro Retail Stores Group, Inc. (MRSGI) has strengthened its existing corporate social responsibility (CSR) partnership with adlai producer Kiboa Ridge Farms, and moringa producer GreenEarth Heritage Foundation. Through this partnership, MRSGI provides these micro-entrepreneurs access to a wider market by making their products available in select Metro branches.

Cultivating livelihood

Kiboa Ridge Farms takes its name from kibuwa, their chosen variety of adlai. The company developed

their products in collaboration with the Northern Mindanao Integrated Agricultural Research Center (DANOMIARC). “Our adlai is grown in Impasugong, Bukidnon, and harvested by more than 40 small-scale farmers and farm workers, whom we provide with high-quality seeds, technical assistance, and market access,” said Patricia de Villa, general manager of Kiboa Ridge Farms. “Cultivating adlai boosts farmers’ income, and allows us to deliver safe and nutritious food to consumers.” GreenEarth Heritage Foundation, on the other hand, maintains a sustainable farm and reforestation site at the foothills of the Sierra Madre in San Miguel, Bulacan. “We envision GreenEarth to be a model eco-community that enables a brighter future for our family beneficiaries,” said Mylene Matti, MD, GreenEarth Heritage Foundation Founder and Executive Director. One hundred percent of proceeds from the sale of their moringa tea supports their communities.

Kiboa Ridge Farms supports small-scale farmers and farm workers by providing them technical farming assistance, high-quality seeds, and market access for their adlai products.

Nurturing communities The retail company recently rolled out the products of Kiboa and GreenEarth in Metro Market! Market!, Metro Alabang, Metro Feliz, and Metro Ayala Center Cebu; another initiative towards Metro’s mission of providing means for consumers to make choices that benefit communities in need.

“We are delighted to have CSR partners who share the same values, and the vision of caring and creating a positive impact in Filipino communities,” says Anna Marie Periquet, vice president for Corporate Affairs of MRSGI. “Having a retail giant like MRSGI spearhead this initiative is a testament to their commitment to up-

lifting lives through increased opportunities in education and livelihood, and we are truly proud to be part of One Metro Community,” said de Villa. Matti added, “We are in need to expand our reach every day to be able to sell what our farming families produce under Fair Trade conditions. The partnership with MRSGI is an answered prayer in achieving our goals, since having a presence in MRSGI stores supports our vision for the communities we support.” K i b o a R i d g e Fa r m s a n d GreenEarth Heritage Foundation are also some of the CSR partners and beneficiaries of MRSGI’s Virtual Metro Retail Community Bazaar, which lasted until the end of December. “Each item we stock is a symbol of hope, passed on from the farmers and producers, down to our frontliners at the stores, and to our loyal customers. Together, we are meeting the challenges brought on by these difficult times as One Metro Family,” says Manuel Alberto, president and chief operating officer of MRSGI.

Filipino firms urged to sell online on Southeast Asian markets

ilipino companies need to develop products and services that can be sold online to penetrate the Asean market, a huge market with 700 million people that is expected to become the world’s fourth largest over the next decade. “Digitalization plays a key role; [the] e-commerce industry changes the lifestyle of business operations and it is predicted to be the fastest growing sector with Asean’s Internet economy…. Doing digitalization is a must, it’s evitable,” said Jeremiah Reyes, Commercial Attaché of the Philippine Trade and Investment Center-Jakarta and economic official to Philippine Permanent Mission to Asean. Reyes said of at least 15 percent of total Philippine exports ship to Asean member-countries, half comprises electronic products including integrated circuits, automatic data processing machines, and copper cathodes. He cited a survey released

by web site Ancient Babylonians this year showing 50 percent of the total population in Asean already shop online with clothing, electronics, and personal care and beauty products having the highest purchase frequency. “These are followed by entertainment packages consisting of media, online gaming, hobbies and content, and home improvements including urban gardening,” he said. “So 54 percent of the population in the Southeast Asian region have switched brands in the past few months, meaning the preferences of the population here in Asean are changing quickly,” he added. “And lastly, consumers buy products through discovery rather than event-driven.” Reyes further said another survey shows that almost 57 percent of the total population in Asean now prioritize value in purchases when shopping. “So more value seeking consumers,

such as urban shoppers, are more intentional about what they buy, and they want to get the best deals for a planned purchase rather than splurge or shop around, and this is because of what’s happening in the world,” he said. On grocery shopping, Reyes said 48 percent in Asean region do fresh grocery shopping, while 44 percent are doing package groceries, and most of them will continue doing such under the new normal. “It means that as businesses adjust to the new normal, the shift to online purchase has accelerated mainly for essentials. So while people are staying at home, it actually increases the demand for essential goods, both online and offline and this trend is here to stay in the region,” he said. “E-wallets show the highest growth in the preferred mode of payment, while cash on delivery is still most popular but actually declining,” he added.

In terms of specific markets, Reyes said there is a rising interest in plant-based alternatives in Singapore as it now relies on traditional ingredients. “Halal has been an indicator of actually doing business here in Indonesia so Halal is very important in the market. There is also a clamor for ready-to-go meals, interest in milk tea and other beverages continues to rise. But in terms of quick service restaurants, pizza and burger preference are on a decline,” he said. “Indonesians are munching less on cookies and cakes but there is a growing [demand] in vegetables and noodles in Indonesia; preferences for fresh fruits are also on the decline,” he added. Reyes said a survey also indicates that Indonesia is also preferring now to have more noodles than rice so “there is a huge surplus of rice now in Indonesian market.” In Vietnam, majority of the population are still preferring

local products, and the key areas of expenditures of the Vietnamese are on fresh food, education, entertainment, among others. “In Vietnam, we are seeing less cooking, more on ready-to-eat meals [and] like in Indonesia, less sugar, more natural ingredients and smart living,” Reyes said. In Thailand, plant protein is getting traction in snacks, bakery and dairy items; while some ingredients and products related to health and immunity like selenium and whey protein are on demand, he added. Reyes said Malaysia, on the other hand, is exploring moringa, camote and virgin coconut oil for immunity; while the rate of growth of bakery and snacks is increasing, and interest in milk tea is also rising. He added there is a prevalence of ready-to-eat meals and shift to plant-based alternatives in Asean member-countries.

B4 Wednesday, January 6, 2021

Banking&Finance BusinessMirror

Govt to further boost credit reporting, expand database By Tyrone Jasper C. Piad

@Tyronepiad

O further strengthen credit reporting in the country, the Credit Information Corp. (CIC) is eyeing to onboard more submitting and accessing entities in its database this year.

Aileen L. Amor-Bautista, CIC’s Senior Vice President for Business Development and Communications, told the BusinessMirror in a recent interview that the central credit registry was targeting to have a hundred more submitting entities (SEs) and a hundred accessing entities this year (AEs). “While submission is mandatory, the CIC recognizes the impact of the pandemic on the regular operations

of its submitting financial institutions,” Amor-Bautista said, explaining that the CIC last year extended the deadline for submission of credit data. Still, Amor-Bautista said that the number of SEs increased, reaching 557 as of latest data. The credit agency is also opening schedules for training of SEs this year soon to provide them knowledge on their roles in the credit information ecosystem and introduce them to the

creation of submission files. The CIC official announced last year that the training slots were fully booked. While accessing the credit registry is voluntary, Amor-Bautista said that CIC has been campaigning on onboarding more financial institutions amid the pandemic. As of December, the CIC has 86 AEs paying and investing to access credit reports as basis for their credit decision, she added. These AEs include banks such as BDO Unibank Inc., Bank of the Philippine Islands, Union Bank of the Philippines, Philippine Savings Bank, Equicom Savings Bank, ING Bank N.V. Philippines, Sterling Bank of Asia Inc. and Metrobank Card. Non-bank AEs include the HC Consumer Finance Philippines. Inc., Toyota Financial Services Philippines Corp. and the Small Business Corp. “This is such a huge milestone for the agency, since the CIC opened the registration for paid access to the database only in July [2019],” AmorBautista said adding that from zero to

24 accessing entities by end of 2019, the number more than tripled as of December 2020. She added that the CIC launched an online Covered Entity Portal to hasten the process of becoming an AE. This platform allows applicants to register, update and submit documents online. “The CIC Credit Report is an important tool for financial institutions in the conduct of their broad portfolio review across all risk segments,” Amor-Bautista explained. She noted that the CIC’s purpose is “to make credit more cost-effective and promote financial inclusion.” “The CIC Credit Report may help individuals and even MSMEs who were affected by the pandemic to gain access to their much-needed loans and other financial services as it will serve as proof of their creditworthiness and trustworthiness as borrowers,” Amor-Bautista explained. The country’s central credit registry currently has 80 million contract data as of December 2020.

PNB to allow opening of accounts online via facility

HE Philippine National Bank (PNB) is set to introduce a digital account-opening facility this year in a bid to improve its online banking services. PNB President Jose Arnulfo A. Veloso said in a recent interview with the BusinessMirror that the pandemic has highlighted the need for an efficient digital platform, which the bank is working for. “A fully digital end-to-end account opening facility will also be offered early in 2021 to better assist customers in opening an account online,” Veloso told this newspaper. In addition, PNB is expanding payment partnerships and offering quick response (QR) code services for payment and fund transfers.

The Tan-led bank said last year it was focused on enhancing its digital banking platforms given the accelerated shift to online transactions amid the lockdown restrictions. “Our customers will be using better products next year as we continue to invest time and resources in improving usability and customer experience,” Veloso said. Shares in PNB slid by 1.72 percent, or 50 centavos, to settle at P28.50 each amid the 0.88-percent drop for the benchmark index on Tuesday. In 2020, the listed bank said it allocated around P2.5 billion of capital expenditures for information technology (IT) projects, which is 15 percent more than the amount ear-

marked in 2019. Of this budget, 30 percent is for digital payments and e-wallet, among others. The PNB said it was mulling over a further increase in its IT budget for 2021 and 2022 amid the ubiquity of digital banking. The bank’s digital platform has around 696,000 users as of endSeptember last year. This figure is 30-percent more than what was recorded in 2019. Recently, PNB announced that the Insurance Commission approved the acquisition by Allied Bankers Insurance Corp. of PNB General Insurers Co. Inc. (PNBGen). The listed bank last month announced it was selling its shareholdings, along with PNB Holding Corp.’s,

in PNBGen to AlliedBankers for P1.52 billion or 9.126 million shares for P166.93 apiece. PNB has 65.75-percent ownership in PNBGen while its wholly owned subsidiary PNB Holdings holds 34.25-percent stake. The Tan-led bank also has 4-percent shareholdings in AlliedBankers. In January to September 2020, PNB’s net income dipped by 39 percent to P3.87 billion from P6.34 billion for the same period in 2019 due to higher provisioning for potential credit losses. Its capital adequacy ratio and common equity tier 1 stood at 16.40 percent and 15.67 percent, respectively, as of end-September last year. Tyrone Jasper C. Piad

Security Bank donates test kits to UP-NIH, PGC

ECURITY Bank Corp. announced it donated realtime reverse transcription polymerase chain reaction test kits to the University of the Philippines National Institutes of Health and the Philippine Genome Center. The bank said it tapped Manila Health Tek Inc. (MHTI) to produce the test kits and Security Bank Foundation Inc., its corporate social responsibility arm, to facilitate the donation. The MHTI is the local research and development company founded by physician Raul Destura who led the team that developed the locally produced, low-cost Covid-19 test kit known as GenAmplifyTM. “Security Bank gives us inspiration to continue working, serving and doing good science that will help our country win the fight against C-19,” Destura was quoted in a statement as saying.

He also expressed “appreciation of Security Bank’s involvement in strengthening the mass-testing program.” The financial intermediary said the funding for the test kit donation was generated through its Treasury Group’s initiative, wherein a portion of the bank’s income from foreign exchange and government securities trades was donated. Overall, 1.3 million pesos worth of kits were procured from the donation drive, the bank said. “Putting people at the heart of the business is not only important for us – it’s also necessary,” Security Bank President and CEO Sanjiv Vohra was quoted in the statement as saying. “We are always proactively-looking for opportunities that enrich and save lives, including efforts that would help the nation overcome the Covid-19 pandemic.”

This undated photo courtesy of Security Bank Corp. shows bank representatives posing with staff of the University of the Philippines National Institutes of Health during the donation of test kits. CREDIT: Security Bank Corp.

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₧4.7-B loan for disaster response issued by Jica By Cai U. Ordinario @caiordinario

he Japan International Cooperation Agency (Jica) announced it has released the second tranche of a loan intended to help Filipinos recover from Typhoons Quinta, Rolly and Ulysses in 2020. In a statement, Jica said it has released the P4.7-billion (10 billion yen) portion of the P24-billion (50 billion yen) Post Disaster Standby Loan 2 (PDSL 2). The loan has a repayment period of 40 years and a grace period of 10 years, with a fixed interest rate of 0.01 percent per annum based on highly concessional terms. “As partners for inclusive development, Jica is supporting the Philippines with available financial resources to mitigate the impact of natural disasters and health crisis,” Jica Philippines Chief Representative Eigo Azukizawa was quoted in the statement as saying. “We’re making it clear that we’re in this together and that Jica will support development partners who need our assistance.” As a quick-disbursing budgetary support, the PDSL 2 defines clear guidelines on the trigger of disbursement, which includes a proclamation of state of calamity or public health emergency. The government declared a state of calamity over the entire island of Luzon due to the recent typhoons that caused widespread devastation, destruction and damage to infrastructure and agriculture, disrupting lives and economic activities. Under Republic Act 10121 (Philippine Disaster Risk Reduction and Management Act) a declaration of

State of Calamity by the National Disaster Risk Reduction and Management Council of the Philippines will help hasten rescue, relief and rehabilitation efforts by government, private sector and international humanitarian groups. “As partners for inclusive development, Jica is supporting the Philippines with available financial resources to mitigate the impact of natural disasters and health crisis,” Azukizawa said through the statement. “We’re making it clear that we’re in this together and that Jica will support development partners who need our assistance.” The Jica said the first disbursement was also 10 billion yen. It was disbursed to support response and recovery efforts from the pandemic following the extension of the State of Calamity throughout the Philippines due to Covid-19 under Proclamation 929 the government issued last September 16, 2020. The PDSL 2 was formalized on September 15 last year after the signing and exchange of notes by Ambassador Haneda Koji signed and Foreign Affairs Secretary Teodoro L. Locsin Jr. In addition to PDSL 2, the Jica has supported the Philippines with a 50-billion yen Covid-19 Crisis Response Emergency Support Loan signed last July 1, 2020 and released last August 14. In 2013, the Jica provided PDSL to the Philippines’s recovery from Typhoon Yolanda, helping families recover lost income and rebuild their lives. The Jica also continues to support the Philippines’s “Build, Build, Build” agenda to boost the economy through infrastructure building. With additional

reporting by Recto Mercene

Govt raises ₧30B from sale of reissued 10-yr T-bonds By Bernadette D. Nicolas @BNicolasBM

he Bureau of the Treasury on Tuesday fully awarded P30 billion in reissued 10year Treasury Bonds (T-bonds). Strong liquidity was evident as the auction ended up oversubscribed by more than thrice the P30-billion offering. Total tenders for the tenor reached P98.67 billion. With a remaining life of 4 years and 8 months, the tenor fetched a lower average rate of 2.536 percent, a 36.4 basis point drop from 2.9 percent from the last reissuance in November 2020. National Treasurer Rosalia V. De Leon said that “abundant liquidity coupled by cautious sentiment” pulled the rates to the “belly of [the] curve.” Nonetheless, De Leon said strong buying interest was reflected during the auction. With the auction committee’s decision to fully award the reissued 10-year T-bonds, the total outstanding volume for the security has now reached P263.66 billion.

De Leon added that the auction committee decided to open the tap facility auction for an additional P20-billion offering for the same tenor due to high non-competitive bid participation. For this month, the Treasury has programmed to borrow P140 billion, part of the P3 trillion that the government targets for this year. Economic managers expect the country’s outstanding debt to further swell to P11.98 trillion and the country’s debt-toGDP (gross domestic product) ratio to rise to 58.28 percent. The government has ramped up its borrowing program last year to an all-time high nominal P3 trillion from P1.4 trillion originally. The funds are expected to address a doubling of the budget deficit as well as to fund its spending requirements for its Covid-19 response. The government has also earlier projected the country’s debtto-GDP ratio in 2020 to increase to 53.91 percent of GDP—a level it hasn’t seen in over a decade— from a record low of 39.6 percent of GDP in 2019.

Taxpayers urged to use QC online portal to avail discounts as deadline nears

imited means of travel due to community quarantine is no longer a problem for individuals who will pay their taxes in Quezon City, as they can now settle their dues in the comfort of their homes with its online platform, the local government unit said. Mayor Josefina G. Belmonte was quoted in a statement as saying she reminded taxpayers to maximize the online portal as the tax deadline approaches and if they wish to avail of the discounts given to early payers. Launched in October, the portal is

meant to provide convenience in settling tax payments and in the application and renewal of business permits among others, Belmonte added. “We urge our citizens to use our QC e-services to transact with the city,” Belmonte was quoted as saying in the statement. “This way, they are saved from the hassle of physically going to the city hall and from the possible risk of being exposed to the coronavirus disease.” City Treasurer Edgar T. Villanueva advised individuals who wish to pay their real property tax to visit the QC E-services page and create a user ac-

count to initiate the process. As for individuals who will pay business tax, Villanueva said they may download and fill out the Tax Declaration Form from the official city website. Once accomplished, the form should then be submitted to the City Treasurer’s Office (CTO) via electronic mail, he added. Villanueva said they have recently created an online payment group dedicated to respond to all emails, be it inquiries or proof of payment. He said all messages are answered within one day to two days

upon receipt. Further, he encourages taxpayers to pay the payable amount or tax bill via online bank transfer to the Official CTO Land Bank Account. Proof of payment should also be sent to the said CTO email address. Meanwhile, business owners who wish to apply, renew or amend their business permits are also advised to do so online via the QC e-Services page. “Those renewing their business permit must first settle their business tax dues with the Treasurer’s Office and then proceed to the por-

tal,” Margarita T. Santos, head of the Business Permits and Licensing Department (BPLD), was quoted in the statement as saying. Once logged in to the portal, clients may opt to submit the necessary requirements online or set-up an appointment with the city government’s business one-stop shop. The submitted applications are sent to ancillary departments in a real-time manner. Once clearance is given by said departments, clients may pay at the various business centers all over the city.

The clients may also choose to have his permit delivered to him via a courier service of his choice. Belmonte, meanwhile, reminded taxpayers and business owners to be wary of fixers who claim they can assist them in expediting transactions with the city government. “Tax payments and business registrations can easily be done through our city’s website. If unauthorized individuals offer to assist you for a fee please contact our Hotline 122. There’s no place for fixers in QC because here, Biz is Easy,” Belmonte said.

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Editor: Gerard S. Ramos

• Wednesday, January 6, 2021

People management after Covid-19

T the start of the pandemic, organizations scrambled to respond to the need for safety and security of their work force while ensuring business continuity and profitability. And while some sacrificed one for the other, there is no denying that the core of all these decisions comes from the recommendations from human resources (HR) which serves as the primary guide for people management and development. This year, with the availability of a Covid-19 vaccine and the events that transpired last year, HR will be hard pressed to address issues relative to employee experience, working arrangements, and professional development as organizations face an unprecedented working condition this year. Organizations need to think in terms of the overall experience of employees and not just the sporadic activities spread throughout the year. They need to focus on the entire employee experience, which is the life cycle of an employee from recruitment to retirement. A good understanding of what attracts an employee, why they stay, and what makes them leave will help organizations understand how they can create experiences to retain the best talents. Working from home will become an alternative working arrangement especially for organizations whose products and services do not rely heavily on the physical presence of their work force. Even before the pandemic, there have been organizations that have adopted a hybrid workplace where they allow employees to report to work only three times a week, or only when their physical presence was needed. Other organizations have even allowed flexibility of where to work and when to work. Last year, I noticed the expansion and proliferation of shared office spaces where you can rent a workspace on a daily or monthly basis. Other organizations have allowed for flexibility in schedules to give employees the option to work when they were most productive in the day, or to commute to work when traffic is not too congested. These working conditions help employees schedule and plan their day to maximize their productivity, although this could pose a problem in monitoring employee’s output. With the increasing reliance on technology and flexibility in working arrangements, organizations will need to develop a system of monitoring productivity and efficiency without violating employee’s data privacy and minimize the feeling of someone looking over their shoulder. In a previous organization, we were once asked to install an app which automatically ran in the background while we worked. Since I had a team under me, I was given access to my team’s information on how much time they spent on work and non-work applications. They knew I could see what applications they ran and how much time they spent on certain websites. It can be particularly intrusive for employees, so organizations need to be judicious in the way they monitor productivity. There will also be an increase in digitizing HR processes like recruitment, onboarding, and even people development. I used to work in an organization which used a chatbot to screen possible candidates for available job postings. This helped HR sift through the job applications faster and avoid unnecessarily interviewing candidates who cannot meet the minimum job requirements. There is also an increase

in using video call services for interviews and team meetings. Onboarding will also likely turn to a digitized format with the use of videos and gamified learning materials which can be made available every time there is a new employee. There will also be a need for the work force to develop learning agility, which is the ability to use past experiences to adapt and assimilate new skills needed to resolve new and emerging issues. As the pandemic has shown, people need to acquire new skills quickly to address an ever-changing environment. HR needs to implement programs and initiatives to drive skills development especially in areas of data literacy or analytics, development of the entrepreneurial mentality, and the adoption of a digital mindset. You can also expect an increase in the need and adoption of a Learning Management System (LMS), which can monitor an employee’s professional development and makes it easier for HR to recommend a learning path suitable for an employee’s strengths and areas of improvement. This customized learning path has started in some organizations but will increase this year as more organizations are narrowing down skills necessary for specific roles in their organization. More employees will need to be cross-skilled to ensure there are enough team members who know enough of what others are doing to ensure coverage for work processes and smooth operations despite lack of manpower. There is also an increasing trend in automating processes like the one I mentioned above—chatbots used for recruitment, and the use of an LMS for professional development. While these are efficient and useful, there will be displaced employees. HR needs to consider how they can re-skill and help these employees find new work in the organization rather than just letting them go. They have invaluable experiences and transferable skills which can be developed for use in another team. As a result, people development will be geared toward ensuring the resilience and adaptability of the work force for new and emerging threats which might develop over the new year. This does not just entail learning and development solutions, but also significant investments in new tools and processes

While organizations are deep in discussion on how to address millennials, boomers, and the Gen Xs and Zs in the workplace, there is a growing need to focus on developing the Perennials, which refers to not an age group but the mindset of passionate individuals who transcend age, are curious, push boundaries, and have a deep sense of inclusion, creativity, and work well with others of all ages, cultures and social classes. Think Justin Trudeau, Elon Musk, Madonna—timeless, relevant, and can work well with all generations. to ensure the work force remains connected to the organization and employees can communicate easily with people they work with. And while organizations are deep in discussion on how to address millennials, boomers, and the Gen Xs and Zs in the workplace, there is a growing need to focus on developing the Perennials. The term was first coined by Gina Pell in 2016 to describe not an age group but the mindset of passionate individuals who transcend age, are curious, push boundaries, and have a deep sense of inclusion, creativity, and work well with others of all ages, cultures and social classes. Think of Justin Trudeau, Elon Musk and Madonna—timeless, relevant, and can work well with all generations. So instead of focusing on a segment of the work force, HR needs to work on developing a holistic and collaborative team. What is apparent in all these is that HR will play a pivotal role in ascertaining operational continuity for organizations this new year. The challenge is to ensure that their organization has the right people in place to do what is required, and that HR can provide the tools and training needed for employees to succeed in their roles. In the end, the success of the organization depends on how much they have invested in their people.

Campaign to give unwanted clothing new life

UNIQLO’S Recycled Down Jackets

GLOBAL apparel retailer UNIQLO launches RE.UNIQLO, an initiative that collects the brand’s clothing no longer needed by customers and gives them new life and new value. This effort is a new step toward benefiting the environment and communities by keeping valuable resources out of landfills. Now available in the Philippines, Recycled Down Jackets make up the first offering from the initiative. These items incorporate rejuvenated down taken from 620,000 jackets gathered since September last year. In addition, UNIQLO will initiate a new down product collection campaign in stores

across 21 markets. Christophe Lemaire, artistic director of the UNIQLO Paris R&D Center, said, “My personal commitments are aligned with the goals of RE.UNIQLO. The Uniqlo U Recycled Down Jacket represents UNIQLO and my own continued dedication to sustainability.” The brand is committed to providing customers with more sustainable apparel, notably by employing sustainable materials and using less resources in production processes. RE.UNIQLO is a major step forward building upon these efforts. It further develops the All-Product Recycling initiative that the brand started in 2006 to collect

lightly used clothing from customers and donate them to refugees and others in need, and promotes product-toproduct recycling. The RE in RE.UNIQLO is proof of the virtues of recycling, reusing and reducing. Under the initiative, the company collects pre-worn UNIQLO items from customers to be recycled as part of new products. In the process, waste, carbon dioxide emissions and resource consumption are reduced throughout product lifecycles. Through RE.UNIQLO, the brand is uniting with customers in a drive to become a company that is better for the environment and communities alike.

Andreas Kornmayer, head of fitness and conditioning of Liverpool F.C.

Liverpool F.C., AXA share home fitness tips GIVEN how the scourge of Covid-19 has upended lives everywhere, AXA, one of the leading global insurance providers, recognizes the need to create a work environment that enables its employees to safely manage their mental well-being. This is part of the company’s #HowAreYou Mental Awareness campaign, which encourages open and honest conversations on mental health within the company, among clients, and the whole community. Among the initiatives to support this is its collaboration between English professional football club Liverpool F.C. for a series of online fitness videos that aim to help everyone stay in top physical condition at home amid prolonged lockdowns and self-isolation due to Covid-19. AXA is the official insurance partner of the football club. Liverpool F.C.’s online exercise videos are included in AXA’s free in-depth resource guides, coauthored with the Columbia University-World Health Organization Center for Global Mental Health, to offer everyone tips on how to cope with psychological and emotional distress during these unprecedented times. More information is available at www.axa.com.ph.

B6 Wednesday, January 6, 2021

Be a smart head of the household with these innovative home products

S Filipinos start to become more health conscious, CHERRY on the other hand continues to expand as it now offers another Deerma product under Cherry Home. Aside from its extensive list of IOT products that aim to offer convenience and make every Filipino household smarter, it also now focuses on furthering healthy and safer lifestyle with the launch of the Cherry Digital Air Fryer

and Cherry Clothes Dryer Ionizer. Months spent at home has truly unleashed everyone’s culinary prowess. Master the art of cooking healthy with Cherry Digital Air Fryer. This features Healthy Fry which allows you to cook with up to 80% less fat and has seven cooking presets for fries, shrimp, chicken, meat, and fish and which allows you to bake and even thaw! Using it is a piece of old tackle

with its digital easy touch panel, digital thermostat temperature, timer, and non-stick coating food basket. On top of these, it is also energy-saving and safe to use as it highlights overheating protection and rapid frying. It has a large capacity of up to 4.5L, allowing you to prepare huge servings of your best dishes. This retails at P3,990. Hanging your clothes dry has never been this revolutionary with the Cherry Clothes Dryer Ionizer. Not only does this innovation make chores easier with its fast-drying feature, thanks to its 360˚ heat circulation, but is also proven to level up the protection you wish to give your loved ones as it is equipped with as much as 5 million/cm3 negative ions that will keep your clothes sterile. It is also space-saving as it has portable wheels and conveniently fits under a sofa when folded. It has double large storage and thick steel frame allowing you to hang even your jeans and as many clothes as possible. It comes with a remote control that has smart timer and is proven safe with its overheating protection and fireproof material. Enjoy all these features for only P3,500. These two additions are part of CHERRY’s active expansion and realizing the vision of creating one ecosystem. Cherry Home, one of the five brands under CHERRY’s belt, has a wide array of IOT products and exclusive Deerma collection to make every home smarter and more comfortable. For more information, visit: Cherry Shop PH: www. cherryshop.com.ph

Balloon Payment Plus gets you a step closer to your dream car today, and in the future

ONVENTIONAL thinking suggests that having a brand new car is usually preceded by a momentous milestone in someone’s life. Finally landed that corner office? Expecting a new addition to the family? A booming business? Retirement plans? Yes, nothing can mark a special occasion in your life quite like a fresh-out-of-the-showroom-floor vehicle. But, what if we say that getting to drive such a pristine machine doesn’t require all that proverbial fanfare and fireworks? Because you can have one parked right in your driveway today. Thinking outside the box has always been a true Toyota strength and now with Balloon Payment Plus, you can be driving a brand new car via a rewarding decision that reaps value through and through. Best part: you can stay on course that can allow you to bring a brand new car home time and time again.

Easy Downpayment, Guaranteed Future Value

BALLOON Payment Plus — offered by Toyota Financial Services Philippines Corp. which is supervised by the Bangko Sentral ng Pilipinas (consumeraffairs@bsp.gov.ph)—is a finance lease product that makes your Toyota experience affordable with low monthly payments. This product is also top quality as it comes with built-in periodic maintenance throughout the finance term, and with convenient end of term options. That’s the overview, but let us get down to the nitty-gritty. Let’s key in on these terms: “trade-in with lower cost and repurchase.” Meaning: you can positively repurchase a new vehicle as you trade-in your current car on the program. Picture this: you’re at the tail-end of your payment term. You’ve been using the car for quite some time now, but let’s also say that there’s a latest Toyota model that has caught your eye. Well, you can make that transition easily thanks to the guaranteed future value of your current car that the Balloon Payment Plus has afforded you. You can use the guaranteed future value as lump sum payment. Should there be an amount remaining, you can use said portion to apply for your next brand new car. And before you conclude Balloon Payment Plus’ benefit can be felt only at the end of your financing term, allow us this rebuttal. An obvious, glaring advantage: your low monthly payments are packaged with periodic maintenance. It’s common knowledge that as a vehicle ages, maintenance

HOPE FLOATS AT THE SM MALL OF ASIA. The SM Mall of Asia welcomes the New Year with hope for better times as gigantic balloons featuring Cathie the Caterpillar, MOA Airlines, and MOA Express Train float above the Central Park of SM By the Bay delight shoppers of all ages.

5 tips to get your business off the ground this new year

HE Bank of the Philippine Islands (BPI) recently partnered with Go Negosyo Mentor Me Online to help aspiring and established entrepreneurs take advantage of various business opportunities during the Holiday season and educate them about the importance of having a sound operational financial plan. “Now is the best time to re-assess your business model,” said BPI Business Banking Product Management Head Jessymel Cruz. “Look at the strength of the business and your strength as an owner. Check your competition, innovate, and know where you want to be in the next year or in the next five years.” For Ms. Cruz, 2020 may be a tough year for entrepreneurs because of the pandemic, but knowing the ABCs of running a business in tough times is essential.

Take care of everyone involved in your business.

NOTHING is more vital than building a good relationship. Your employees are important— their strength, commitment, dedication, and positive emotional connection with your customers are assets—and they should be well taken care of. Ask yourself: Have I trained these people well and do they have the right skills? This economic slowdown is temporary. If you treat employees well and give them the skills they need, they will more likely support and help you get back on track when as the situation improves. Establishing relationships with your suppliers is also of paramount importance. Earn their trust and keep your word so you can build long-term partnerships.

Know and listen to your clients.

costs tend to go up. As you make your light monthly payments, you receive trusted dealership-service upkeep on your car periodically. And, here’s the unmitigated truth: you’re more than cool and confident each time you hit the road because your vehicle is in tip-top shape. That’s definitely one-less worry when you have to fulfill tasks and go places. So, let us paint you a pretty picture: you landed on the Toyota Vios. Down payment is between 20 to 30 percent of the vehicle price. Say, you go for a 24-month finance term, you’ll be looking at 45 percent lump sum amount of the vehicle price and a guaranteed resale value at 55 percent. Your assured resale price and flexible financing options can be realized in one of two routes. Option A is paying-off the lump sum amount together with the monthly installment indicated on your last due date official receipt. Or go for Option B which is trading-in your vehicle and effectively purchasing a new Toyota vehicle. With Balloon Payment Plus, you can update your (and your loved ones’) car every few years and experience all the exciting trappings that come with it. The new car smell, the latest car technologies, the smoothest rides, the newest looks—all can be yours sooner rather than later. So, whether it’s finally going for an upgrade or even getting your dream car—rest assured— avenues are made available and attainable for you.

Fits You Fine

SO, do you think this scheme is perfect for you? Truth is: With a solid roster of Toyota participating models to choose from, there’s a viable purchase for almost every customer profile. Been eyeing a trustworthy

subcompact sedan? Why not get around the city in the country’s most-sought after as all Toyota Vios variants are offered. Bringing in a new member to your young family? Corolla Cross 1.8V Hybrid—which is available via Balloon Payment Plus —can be a fine addition to any household. This SUV packs power, elegance, and an electric motor that can make every gas refill cost-effective and efficient. Toyota Hilux (MC) Conquest, G, E, and J variants only are on the Balloon Payment Plus list, too. So, if your livelihood and lifestyle require you to venture into further distances and rougher terrains, there’s an easy and practical choice that awaits you here. Balloon Payment Plus also includes all Toyota Fortuner (MC) variants in their offering, which seamlessly brings together luxury and utility just as a mighty mid-size SUV should be. Whether a first-time car owner realizing a lifelong goal or seasoned car enthusiast adding another steed to the stable, you can find the perfect match from Balloon Payment Plus to accommodate your aspirations. For more information, go to www.toyota.com. ph/balloon-payment-plus. Explore the vehicles and calculator function on the website that estimates your would-be expenses. For final quotation, contacting any Toyota Dealer is advised. You may also inquire with Toyota Financial Services Customer Care Hotline 02-7757-8500, email at feedback@ toyotafinancial.ph or visit their website at www. toyotafinancial.ph. To see the list of TCUV dealers, visit www.toyota.com.ph/tcuv.

CUSTOMER-DRIVEN and customer-driving business strategies are marketing buzz words you should know. The former means being reactive to the existing behavior of customers and offering the same products or services to meet their needs. The latter means being bolder, more creative and innovative by introducing a business concept and convincing your customers that they need it. Entrepreneurs must identify their core clients and know their behavior. Listening to client feedback is also part of the formula for

building your business. See if you can manage feedback and address concerns, as necessary.

Be open to change.

EVERY enterprise out there is racing to offer the best-quality product or service to its customers. Be prepared to pivot when necessary. Adapt to changing times as this is critical for your business' survival. Always innovate—be it big or small, so you can exploit growth opportunities.

Develop financial discipline.

THIS is what small businesses need, and we can’t stress this enough. Your personal money and business money should never merge. Business owners should only take the profit for personal or family expenses, otherwise they may encounter problems. It is important to carefully keep track of your money. Opening a bank account will help you monitor your cash inflows (deposits) and outflows (withdrawals), especially with online banking.

Build your personal and business reputation.

BUILD your reputation by being a responsible entrepreneur. Establish a solid payment. As you expand your business, you may need to borrow from banks. Even prospective suppliers and distributors want to be connected to a reputable business owner. That’s why it is important to be a responsible or conscientious borrower. A good credit score is definitely an asset. Indeed, it takes time to grow a business. But learning the basics and understanding operational intricacies will definitely go a long way. “These disruptions in business operations because of the quarantine protocols and the slowdown in sales are temporary. As an entrepreneur, you are here for the long term. These struggles and economic downturns will soon pass. Carry on with your business and be smart,” she said.

THANKSGIVING CELEBRATION. Staff of the Public Attorneys Office led by PAO Chief Persida Acosta and PAO Forensic Lab head Atty. Erwin Erfe released balloons as part of thanksgiving celebration as President Rodrigo Duterte vetoed the budget cut on the Public Attorney’s Office (PAO) forensics laboratory for 2021 that was inserted by Senators Franklin Drilon and Juan Edgard “Sonny” Angara. Acosta thanked the President for the veto, saying it retained the rights of indigents to gain access to free legal and medical services. She added that the President “has saved the 13 million indigent clients [of PAO] from inserted rider that undermines the human rights and due process clause of the constitution.” Read the complete veto message here https://www.dbm.gov.ph/index.php/budget-documents/2021/president-s-veto-messageon-fy-2021-general-appropriations-act-gaa

BusinessMirror

Editor: Tet Andolong

Cebu Exchange: Coloring the Cebu City skyline green C

@brownindio

The Po family-controlled Arthaland pointed out that locators are excited to move to Cebu Exchange to take advantage of Cebu’s continued economic growth and regard Cebu Exchange to be the most sought-after premium business address, as well as an upcoming landmark of the Cebu City skyline. Standing at the Cebu IT Park gateway, Cebu Exchange will be the Philippines’s largest multi-certified green office tower with approximately 11 hectares of office gross floor area along with five stories of premier retail along Salinas Drive. The Aboitiz-led UnionBank considers Cebu as a strategic growth-engine for the entire country. With digital transformation rapidly happening throughout the archipelago, the bank wants to ensure it remains at the forefront to service growing business needs—whether digital or physical. UnionBank was also impressed with Cebu Exchange’s capacity to optimally support “phygital” initiatives so that brands and enterprises can effectively execute newer consumer-focused marketing blending smart “digital” experiences within an interactive “physical” location. Cebu Exchange has the fiber-optic pathways are designed to provide tenants like UnionBank with uninterrupted, highspeed data connection critical to the seamless operations of their trailblazing ARK digital branch. “This is why Cebu Exchange will be the home of one of our most-advanced ARK digital branches as well as our Cebu headquarters. Together, these should allow UnionBank to continue delivering best-in-class phygital banking services in Cebu,” said Edwin R. Bautista, UnionBank president and chief executive officer.

The 5,152-sq-m retail area of Cebu Exchange will brighten up the Cebu IT Park. (Artist’s Perspective)

As of December 2020, construction on the Cebu Exchange is at 75 percent completion with handover for Phase 1 ongoing since October 2020. (Actual Photograph)

The Tan siblings during the official handover of their Phase 1 office unit in Cebu Exchange

“The bank made Cebu a region-in-itself, and not just the hub for the Visayas, so that all Cebu-based UnionBankers can now focus 100 percent on serving and enabling the banking and business needs of the Cebuanos,” Bautista added. Meanwhile, Esquire Financing, a staunch supporter of empowering the small and medium-sized businesses chose Cebu Exchange as its principal headquarters for Cebu and Visayas because of its strategic location and design excellence. “The Cebu Exchange had everything we wanted for our regional hub, apart from being perfectly situated in the Cebu Central Business District, we were impressed by its sustainable features and future-ready facilities. The same can be said with Arthaland’s other projects, such as the Savya Financial Center in Taguig City where we have partnered with Arthaland in its development. It will also be the future site of our Philippine headquarters,” said Rajan Uttamchandani,

Esquire Financing Chairman and Chief Executive Officer in a press statement. On the other hand, the Cebu-based Tan family was encouraged by their relatives who have vouched for the company’s excellent track record from exceptional quality from design to execution and even service. Being in the construction industry themselves, the relatives of the Tan family have a deeper appreciation of the company’s vision and mantra for building green, which extends to educating the community and encouraging unit owners and tenants to participate and promote environmental sustainability. According to the Tan siblings, working with Arthaland for the Cebu Exchange project was a pleasant experience as efficiency was present in every department. With the teams working efficiently despite the challenging times, the Tan family and Arthaland were able to deliver the units on time and as scheduled. Moreover, they have enrolled their

units with Arthaland ’s Consolidated Leasing Solutions (CLS), which provides them with a hassle-free solution to maximize their investment. Through CLS, their units will be combined with other units within the same floor and will thereafter be offered for lease to larger companies and multinational companies. This will bring them ease and convenience of dealing with just one entity to manage possible tenants from negotiation to rental collections. Cebu Exchange is scheduled for completion and handover of Phase 2 will be in April 2022. Furthermore, Cebu Exchange is multi-certified development, having just been Pre-Certified for the International WELL Building Institute’s WELL Building Standard in addition to having previously been Pre-Certified Gold for the US Green Building Council’s Leadership in Energy and Environmental Design (LEED) and Design Certified 5-Stars for the Philippine Green Building Council’s Building for Ecologically Responsive Design Excellence (BERDE). It is also registered and on track for the International Finance Corporation’s (a member of the World Bank Group) Excellence in Design for Greater Efficiencies (EDGE) certification. It was awarded Best Office High Rise Development in the 2019 Japan International Property Awards, Best Commercial Landscape Architectural Design at the 2019 PropertyGuru Philippines Property Awards, and as the Best Office Development in the Philippines 2018 PropertyGuru Asia Property Awards.

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Making the most of the quarantine season with Hisense

EING cooped up within the confines of your home for months now can really get you and your children real cranky. Undoubtedly, the Covid pandemic has hugely created a big “lifestyle” change all over the world. Suddenly, everyone— adults, the elderly, even children—families are together and staying safely indoors. Staying indoors together is the “new normal” at home and has created vast opportunities to strengthen family ties. Families are united now and have more time to connect and enjoy bonding moments only done on rare occasions. Add to this the fact that most now find themselves having to work home, a new paradigm that is totally foreign for someone who is used to a 9 a.m. to 6 p.m. weekday routine. As it is a time to reflect and be cautious for safety reasons, this quarantine season is also a great time to genuinely enjoy each other’s company. So how else do we make the most out of the quarantine season with much time spent at home? Staying indoors shouldn’t stop family activities from happening. Staying inside the comforts of your home becomes a more

Businesses like real estate urged to digitize against virus impact

By Rizal Raoul S. Reyes

LIENTS are looking forward to moving to Cebu Exchange after following Arthaland’s on-time handover of Phase 1 in October 2020.

Wednesday, January 6, 2021 B7

relaxed and comfortable environment with a Hisense split type air-conditioner around. As a trusted brand, Hisense is like a family household member you can rely on. Its innovative features make it one “smart” air-conditioner. Its DC Inverter Technology minimizes energy consumption along with higher energy efficiency. With the “Super Cooling” feature, you will immediately feel the cool air you desire. Now, binge watching favorite shows and movies weekly with the brood is more relaxing and hassle-free. If you prefer karaoke, belting out ballads or rock numbers with siblings couldn’t be a happier activity. Hisense’s High-Density Filter removes more than 90 percent dust and other particles from the air, allowing you and the kids to safely have playtime activities such as and do your favorite board games. And even if the AC is off, the indoor fan will continue running for 30 seconds inhibiting mildew. You can totally depend on Hisense in all your bonding moments indoors during this quarantine season. After all, it is all about the family. Reni Salvador

By Roderick L. Abad

USINESSES, by and large, have no other choice than to go digital to solve the crisis brought about by the coronavirus disease 2019 (Covid-19) pandemic, according to a conglomerate’s top executive. “We realized that there were tremendous number of products and services that were going to have to ride obviously on a digital infrastructure,” Ayala Corp. Chairman and Chief Executive Officer (CEO) Jaime Augusto Zobel de Ayala said during the recent online Pilipinas Conference organized by Stratbase Albert del Rosario Institute. When the pandemic hit, the whole world absolutely had no choice but to embrace the so-called new normal. The implementation of lockdowns in Metro Manila and other areas in the country has restricted the peoples’ movement and resulted to the rise of the online setup, whether in the education, business and corporate sectors. “Customers, if you’re focused on them, were thinking about keeping themselves safe and were accessing services and products in completely different ways. That transformation just moved up to a whole other degree,” he noted. Zobel de Ayala emphasized the big role of digital technology in the realestate industry that has been affected among the many industries by the ensuing health crisis. For instance, he cited how it helps developers in selling properties even without the prospective client’s actual tour of the site. “We are now able to close a transaction on a piece of property, looking at it visually, exchanging notes virtually, and then signing documents electronically,” noted the chairman and CEO of Ayala Corp. “This whole cycle can be done without someone visiting a site and has been an extraordinary transformation in what has been traditionally a brick-and-mortar oriented company,” he added, while recognizing the significant contribution of telecommunications companies that keep Filipinos still connected amid the pandemic. Publicly listed firm Ayala Corp. is the holding company of the Ayala Group of Companies, with principal interests in various businesses, including real estate and hotels, as well as telco, among others. It’s affiliate, Ayala Land Inc. the largest property developer in the country, involved in the planning and development of large scale, integrated estates having a mix of use for the sale of residential lots and buildings, office buildings and commercial and industrial lots, leasing of commercial and office spaces and the development, operation and management of hotels and resorts. Also, it develops commercial and industrial parks and is also engaged in property management, construction and other businesses like retail and health care. Among its subsidiaries are Alveo Land Corp., Avida Land Corp., Ayala Property Management Corp., Makati Development Corp., North Triangle Depot Commercial Corp., Laguna Technopark Inc., and Ten Knots Philippines Inc. Its telco arm, Globe Telecom Inc., provides digital wireless communication services nationwide, as well as domestic and international long distance communication services or carrier services. The company has already built 700 new cell sites and upgraded 8,036 existing ones as of October 2020, with 600 more to be finished by end of the year.

Sports BusinessMirror

B8 Wednesday, January 6, 2021

BAMBOL’S GOAL: P.O.C.’S OWN HOME

PBA to shelve bubble set up for 46th season

By Josef Ramos

HILIPPINE Basketball Association (PBA) Chairman Ricky Vargas will not agree to any proposal to hold the league’s 46th season in another bubble environment. “I don’t like the bubble setup anymore,” Vargas told BusinessMirror on Tuesday. “The NBA [National Basketball Association] isn’t holding its games in a bubble anymore.” Vargas said the league governors will decide on how the 46th season would be when they meet on January 28 and any recommendation will be evaluated further in the PBA’s annual planning session in February. The NBA opened last month no longer in a bubble as the league did last year in a sealed environment In Disneyland in Orlando, Florida. The PBA had its bubble in Clark that lasted 72 days through the help of the Bases Conversion and Development Authority. Both bubbles were staged without fans— not even the immediate members of the players, officials and staff’s families. Vargas also said that the league could be discussing the vaccine against Covid-19. “We haven’t thought about it [vaccine] yet. Maybe, it will be just a per company basis,” he said “The PBA is composed of big companies. If PLDT or San Miguel Corp. will get a vaccine on their own, then they will include the basketball team.” A proposal to hold the traditional threeconference or a two-conference season will also be discussed during the planning session. The league tentatively set an April opening for the 46th season.

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

REP. ABRAHAM “BAMBOL” TOLENTINO wants to build a home for the organization which has been settling from one place to another since 1911.

HE Philippine Olympic Committee (POC) needs a home that the organization could truly call its own, POC President Rep. Abraham “Bambol” Tolentino announced on the second official working day of 2021 on Tuesday. And Filipino athletes need to get vaccinated against Covid-19 to ensure their safety as 2021 looks bound to be a busy year as sports try to bounce back from pandemic year 2020.

“The POC doesn’t have a home of its own for 110 years,” Tolentino told the online Philippine Sportswriters Association Forum. “It’s about time that the POC gets its own home, its own headquarters that it can be proud of.” Since its establishment in 1911, the POC offices hopped from one place to another—from the historic Rizal Memorial Sports Complex to the Philippine International Convention Center. At

present, the POC has its headquarters at the Philippine Sports Commission (PSC)owned facilities at the PhilSports Complex in Pasig City. “We [POC] are not informal settlers, sad to say. But we have been so in PSC facilities for several years,” Tolentino told the forum presented by San Miguel Corp., Go For Gold, Milo, Amelie Hotel Manila, Braska Restaurant and the Philippine Amusement and Gaming Corp, and powered by Smart with Upstream Media as webcast partner. “The POC doesn’t have a permanent home. It’s only the POC that doesn’t have one,” he said. “All over the world, you will feel awed how grandeur the other countries Olympic committee headquarters are.”

Tolentino said he would be seeking government help—specifically through Senator Christopher “Bong” Go, on his goal to give the POC its home. “Ideally, the PICC/Cultural Center of the Philippines complex would suit our dream for a POC office. There are several idle paces in the complex and the POC, say, needs 1,000 square meters for its home.” “We need a piece of land, and the building? The POC will work on that. We will approach stakeholders who could help us build a building—and I intend to approach the International Olympic Committee and the Olympic Council of Asia for assistance,” he added. “A three-storey building would suffice,” said Tolentino, adding the first floor would

house the POC museum, the second floor would be for the organization’s offices and the third floor would be a multi-purpose hall. “I hope to accomplish that during my term,” he stressed. Tolentino also told the forum that the POC intends to have all Tokyo Olympics qualifiers vaccinated in the event that athletes won’t fall under the government’s priorities. At the same time, the POC chief said he is looking at a modest top three finish for the country in the 31st Southeast Asian Games in Vietnam should the Filipino athletes fall short of retaining the overall championship. Tolentino is aware that the other Asean countries have begun training their athletes for November 21 to December 2 Sea Games.

PRINGLE, PARKS LEAD BPC CONTEST F

IVE players led by Stanley Pringle and Ray Parks are strongly contending for the Philippine Basketball Association (PBA) Best Player of the Conference (BPC) award of the Philippine Cup bubble season. Pringle steered Barangay Ginebra San Miguel to its first all-Filipino championship in 13 years, while Parks emerged as the top player in the statistical points standings. Crowding out the two in the bubble’s highest individual award in lieu of the season Most Valuable Player are the Phoenix duo of

Calvin Abueva and Matthew Wright, Parks’s TnT Tropang Giga teammate Roger Pogoy and Terrafirma’s CJ Perez. Voting started on Tuesday and ends on Monday. Abueva finished second behind Parks in the statistical race, followed by Perez, Wright and Pogoy. The 33-year-old Pringle finished No. 6 but made a strong case for the award after emerging as the Kings’ top player from the eliminations all the way to winning the championship of the

historic season. The BPC awardee will be decided based on statistical points and votes from players, media and the Commissioner’s Office. The BPC winner along with the other individual awardees will be announced during the PBA Awards Night to be held virtually on January 17 in place of the annual Leo Awards. With a shortened season due to the Covid-19 pandemic, the league decided to do away with its regular awards and instead will hand out other special honors. Vying for the Outstanding Rookie (Rookie of the Year) are Barangay Ginebra’s Arvin Tolentino, Aaron Black of Meralco, Terrafirma’s Roosevelt Adams, Barkley Ebona of Alaska and Magnolia’s Aris Dionisio. For the Most Improved Player, the candidates are Phoenix’s Justine Chua and

GINEBRA’S Stanley Pringle and TNT Tropang Giga’s Ray Parks lead the top individual awards derby.

Jason Perkins, Barangay Ginebra’s Prince Caperal, Rain or Shine’s Javee Mocon, Raul Soyud of NLEX and Meralco veteran Reynel Hugnatan. Contending for the Samboy Lim Sportsmanship Award are Abueva, Perez, Barangay Ginebra’s Scottie Thompson,

Kevin Alas of NLEX and Rain or Shine’s Gabe Norwood. Also to be named are the Outstanding/ Elite Five instead of the Mythical Five selection—although there will be no Mythical Second Team and All-Defensive Teams to be named this season.

NBA teams will see same refs more often

here are nine people who have been on the court to start four different games at Staples Center so far this season. Only eight of them are players. The other is referee Scott Foster. There might be no better way to explain how and why the NBA has changed the travel rules for officials this year than Foster’s work schedule to this point. He was scheduled to work a game in Houston on December 23, only to see the matchup called off when the Rockets didn’t have enough people available to play in accordance with the league’s health and safety protocols regarding the coronavirus. From there, Foster flew to Los Angeles. He worked four games in six days, and never left LA in that span. That simply would have never happened in past years, when the policy typically was that officials would go at least 13 days between working games in the same city and six days between seeing the same team after reffing one of its games. Those rules will almost certainly come back when the world

returns to normal, but for now, in the interest of safety—and common sense—teams are seeing referees more often than usual. “It changes things a little bit,” Milwaukee Coach Mike Budenholzer said. “But obviously, for safety and our health and the health of the officials, it makes all the sense in the world.” Referees are tested for Covid-19 daily, just like players and coaches, and have to comply with new league rules about avoiding bars, lounges, clubs, public gyms and many other indoor gathering spots. Reducing their air travel is another part of the league’s plan to exist outside a bubble in a coronavirusdominated world. The thinking is simple; less time in the air, less time around other people, less risk. The Bucks saw David Guthrie and Marat Kogut on the crew that officiated their game at Miami on December 29 and when Milwaukee returned to Miami a night later for the second half of the two-game set, Guthrie and Kogut were back as well. It’s not an aberration this season; Ben Taylor was crew chief in

Gilas badly needs PBA’s Fil-Ams Al Mendoza | alsol47@yahoo.com

THAT’S ALL WE fear the South Koreans. That’s because in basketball, they’ve always been our kontrapelos (archenemies). How many times have we bowed to them in global combats? I can still vividly recall that day when we lost an all-important game to them in the 2002 Asian Games in Busan. I was right there at the press box covering the PHL-SK semifinal game. (I was the Inquirer’s sports editor then.) It was a nip-and-tuck affair, the jampacked stadium rockin’ and rollin’ almost all throughout, as though the Beatles were there belting out nonstop Dizzy Miss Lizzy. And then, with mere seconds left, we were up by two points. Victory virtually was at hand. Oh, yeah, just ticks before that, we missed four free throws in succession—two each by Asi Taulava and Olsen Racela. A bad omen in the offing? True enough, those flaws proved fatal in

the end. The killer blow came in the form of an awkwardly released acrobatic three by a desperate Korean guard from near the stripe, the buzzer-beater breaking us down with a shocking one-point loss that stole our chance for the gold against China. In the battle for the bronze, the stigma of the previous day’s setback keyed our defeat to Kazakhstan, the same team that we beat for third in the previous 1998 Asian Games in Bangkok. And now here come the Koreans again, whom we will face twice next month. Although we need only to beat them once for us to advance to the 2021 Fiba Asia Cup, uncertainty still lurks. History seems to be unkind to us almost each time we face the Koreans. That is why we need a souped-up, beefedup if you will, Gilas squad to strengthen our chances against South Korea. And one sure way of achieving that is to

Milwaukee on Friday and had the same role when the Bucks played their next game there Monday. There are plenty of other examples. Zach Zarba lives in New York and didn’t have to get on a plane until his fourth game of the season, after opening in Brooklyn and then being crew chief for Knicks’ home games on consecutive nights last week with Scott Wall working alongside him in both of those games. Marc Davis, Derrick Collins and Nate Green were the crew for the Dallas-Los Angeles Clippers game on December 27, then stayed in LA to work Portland’s game there against the Lakers the next night. Foster had the Lakers on December 25 and December 27, then the Clippers on December 29 and 30. “We are working to keep our officials safe and reduce the amount of travel and potential exposure,” said Monty McCutchen, the NBA senior vice president who oversees referee development and training. It can lead to some awkward moments. AP liberally spray the Gilas squad with the Philippine Basketball Association’s (PBA) Fil-Ams. Trouble is, most of them are still vacationing in the US. Expectedly, many of them are scheduled to fly home in February yet as the 46th PBA season does not open until April. We don’t have the luxury of time as the Fiba Asia Cup third window is set February 18 to 22 at the Angeles University Foundation gym in Pampanga. We did well in the Fiba second window in November in Bahrain even as we only fielded an almost all-college team. Add the fact the Koreans weren’t there when we swept Indonesia and Thailand (twice). But with the Koreans coming here next month, they present a king-sized job for us once again. If they prove to be as frightening as the Covid-19 pandemic, no surprise there. And so, can we expect the PBA’s Fil-Am hotshots to respond to the call of flag and country? As the cliché goes, your guess is as good as mine. THAT’S IT If I were Greg Slaughter, the estranged center of Barangay Ginebra, I’d offer my services to Gilas. That way, he’d be proving his sincerity to mend his ways as he navigates his way back to the PBA fold. Gilas does not have a naturalized center like South Korea, which has Ricardo Ratliffe, the former PBA import of Purefoods. Slaughter’s ceiling of 7 feet will surely boost the Gilas cause.