BusinessMirror January 07, 2021 by BusinessMirror

NG’s 11-month debt hits ₧10.13 trillion By Bernadette D. Nicolas

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MECHANIZATION MOVES AGRI SECTOR SLOW, BUT SURE, TO MODERN FARMING

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HE national government’s outstanding debt has reached P10.13 trillion as of end-November last year, just P30 billion short of the government’s expected level for the year. Latest data from the Bureau of the Treasury showed the country’s debt stock rose by 1.1 percent or P106.37 billion from P10.028 trillion as of end-October last year owing to higher domestic borrowing. The amount of outstanding debt as of end-November is nearing the P10.16-trillion outstanding debt level that the economic managers had projected for the year.

Since the start of 2020, the national government’s debt stock has already surged by 31.1 percent from P7.73 trillion as of end-2019. Broken down, the Treasury said domestic debt cornered 71 percent of the total outstanding debt, while the remaining 29 percent was external debt. As of end-November last year, domestic debt amounted to P7.19 trillion, up by 1.6 percent compared to the P7.077 trillion recorded as of end-October due to the net issuance of domestic government securities. To date, domestic debt has increased by 40.3 percent from P5.128 trillion as of end-2019.

Government securities accounted for the bulk or P6.65 trillion of domestic debt as of endNovember, while loans reached P540.95 billion. On the other hand, external debt as of end-November stood at P2.94 trillion, a 0.3-percent dip compared to P2.95 trillion as of end-October because of the net effect of currency adjustments amounting to P10.74 billion. In particular, peso appreciation offset net foreign loan availments amounting to P2.55 billion. From the start of the year, external debt has risen by 13 percent from P2.6 trillion as of end-2019. See “Debt,” A2

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Thursday, January 7, 2021 Vol. 16 No. 88

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TO RECOVER IN REGION Growth rests on Covid-19 handling globally–WB

DEVOTEES attend Wednesday Mass outside the Minor Basilica of the Black Nazarene, also known as the Quiapo Church, in Manila. Traditionally held on January 9, the annual Traslacion featuring a grand procession of the Black Nazarene in the streets of Manila, attended by millions of devotees, has been cancelled because of the continuing threat of the coronavirus disease. ROY DOMINGO

By Cai U. Ordinario

FFORTS to roll out the vaccine and successfully handle the pandemic will define the pace of economic growth globally, according to the World Bank. In a statement, the World Bank said global GDP growth would likely reach 4 percent in 2021. However, there are a lot of risks associated with the forecast. The World Bank said GDP growth could only grow 1.6 percent if the rollout of the vaccine is delayed. But growth could reach 5 percent if the pandemic is successfully controlled and the vaccines are rolled out faster.

Continued on A2

By Bianca Cuaresma

OST countries in the Asia-Pacific region are expected to regain their lost output by 2021, but the Philippines is an exception as the country still grapples to craft a concrete plan on vaccine procurement and fiscal stimulus remains relatively minute, an international think tank said.

PHL, INDIA RANK LOW IN MOBILITY INDEX IN PANDEMIC By Cai U. Ordinario

HE Philippines was deemed among the worst performing economies in the region as the country struggled with its Covid-19 and lockdown woes, according to the 2021 first-quarter edition of the Global Mobility Report. A report released by Londonbased consultancy firm Henley & Partners showed that the Philippine passport ranked 77th out of 199 passports in Henley’s Passport Index since it had visa-free access to 66 countries. The Philippines had the same ranking and visa-free access as Cape Verde Islands and the Dominican Republic. Curtis S. Chin, a former US Ambassador to the Asian Develop-

ment Bank (ADB), said the Philippines and India’s ranking suffered because these countries struggled in balancing health and economics. “India and the Philippines were among those economies that fared considerably worse, echoing the disparity that underscores the unequal challenges faced by governments across the region and the discrepancy in resources available to them as they struggle to balance health and economic concerns,” Chin said. Chin said this is why vigilance is still essential in Asia, even if the Asia and the Pacific region is leading the charge out of the pandemic. He said vigilance is needed, especially in guarding against a so-called lockdown fatigue that, he Continued on A2

CHIN: “Creativity and competitiveness paired with a willingness to embrace innovation and adapt new technologies could well lead to large parts of Asia Pacific being both first in and first out of these difficult times.” TWITTER.COM/CURTISSCHIN

In its most recent assessment of the region’s economic dynamics, Moody’s Analytics said the Philippines will be the last country in the Asia Pacific to regain its GDP growth level to pre-Covid levels. The think tank’s growth projection of the country’s economy is a 9.9-percent contraction in 2020, 4.5-percent growth for this year and a 6.2-percent growth in 2022. This is in contrast to the govern-

ment’s expectation that local economic growth is expected to reach 6.5 percent to 7.5 percent this year. According to Moody’s Analytics’ forecasts, the Philippines is expected to regain its momentum by the fourth quarter of 2022. This is in contrast to most of the countries in the region regaining strength this year. In particular, Moody’s Analytics data show that China, Taiwan Continued on A2

MALPASS: “To overcome the impacts of the pandemic and counter the investment headwind, there needs to be a major push to improve business environments, increase labor and product market flexibility, and strengthen transparency and governance.” WORLDBANK.ORG

“While the global economy appears to have entered a subdued recovery, policy-makers face formidable challenges—in public health, debt management, budget policies, central banking and structural reforms—as they try to ensure that this still fragile global recovery gains traction and sets a foundation for robust growth,” World Bank Group President David Malpass said. “To overcome the impacts of the pandemic and counter the investment headwind, there needs to be a major push to improve business environments, increase labor and product market flexibility, and strengthen transparency and governance,” Malpass added. The World Bank said emerging market and developing economies, including China, are expected to grow 5 percent in 2021, after a contraction of 2.6 percent in 2020. Excluding China, emerging markets and developing economies are forecast to expand 3.4 percent in 2021 after a contraction of 5 percent in 2020. Continued on A2

PESO EXCHANGE RATES n US 48.0440

n JAPAN 0.4677 n UK 65.4744 n HK 6.1968 n CHINA 7.4429 n SINGAPORE 36.4633 n AUSTRALIA 37.2773 n EU 59.0845 n SAUDI ARABIA 12.8080

Source: BSP (January 6, 2021)

News BusinessMirror

A2 Thursday, January 7, 2021

Phl, India rank low in mobility index in pandemic Continued from A1

said, “could well lead to another wave of infections and extended restrictions on mobility.” Nonetheless, Chin said, innovations are taking root and Asian economies are now exploring safe “travel bubbles” and “travel corridors” as well as introducing longterm visa programs for investors. “Just a year ago all indications were that the rates of global mobility would continue to rise, that travel freedom would increase, and that holders of powerful passports would enjoy more access than ever before,” Christian H. Kaelin, chairman of Henley & Partners and the inventor of the passport index, said. “The global lockdown negated these glowing projections, and as restrictions begin to lift, the results from the latest index are a reminder of what passport power really means in a world upended by the pandemic,” Kaelin added. In the passport index for 2021, the Philippines is ranked 7th in Southeast Asia, besting only Cambodia and Vietnam, (89th in the overall rankings), as well as Myanmar, which placed 96th overall. The Asean was led by Singapore which ranked second in the index after Japan, which topped the rankings. This was followed by Malaysia which ranked 14th; Brunei Darussalam, 22nd; TimorLeste, 57th; Thailand, 66th; and Indonesia, 74th. The Philippines’s performance in the index worsened compared to 2020 when it ranked 74th overall. However, the country also had visa-free access to 66 countries in 2020. “Creativity and competitiveness paired with a willingness to embrace innovation and adapt new technologies could well lead to large parts of Asia Pacific being both first in and first out of these difficult times,” Chin said. Japan topped the index for the third consecutive year, either alone or jointly with Singapore. Asia-Pacific region countries’ dominance of the index—which is based on exclusive data from the International Air Transport Association (IATA)—now seems firmly established. South Korea holds on to third place alongside Germany, with both having a visa-free/ visa-on-arrival score of 189. Slightly further down but still in the top 10, New Zealand is in seventh position, with visafree access to 185 destinations; while Australia is in eighth, with access to 184 destinations. Over the index’s 16-year history, the top spots were traditionally held by EU countries, the UK, or the US, and experts suggest that the Asia-Pacific region’s position of strength will continue as it includes some of the first countries to begin the process of recovering from the pandemic. The report also features cutting-edge analysis and commentary from leading academics and professional experts. It showed that while the pandemic may have temporarily restricted transnational movement, the urge to move and migrate remained.

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DOH: Covid-19 travel ban to cover 6 more countries

IX more countries were recommended by the Department of Health (DOH) for inclusion on the list of countries and territories covered by a travel ban after the detection of a new, more transmissible variant of Covid-19.

“Apart from the 21 countries that have already been announced, the Department of Health and the Department of Foreign Affairs have recommended the addition of six countries with official reports confirming the detection of this UK variant,” Health Undersecretary Maria Rosario Vergeire said in an online media forum. The health official, however, did not mention the six additional

countries. Vergeire said the Philippines is restricting travel from countries with the confirmed UK variant until January 15. On Tuesday, the DOH said the list of countries included in the travel ban shall be regularly updated to include countries that will officially report detection of the new variant pursuant to the Inter-Agency Task Force

on Emerging Infectious Diseases (IATF-EID) Resolution 91, as approved by President Duterte on December 29, 2020. “The Office of the President may impose restrictions on travelers coming from countries— not included on the initial list— that report the presence of the new variant of Covid-19 based on the joint recommendation of the Department of Health and the Department of Foreign Affairs,” the DOH said in a media release on Tuesday night. In view of this, the DOH reiterated that the list of countries included in the travel restrictions shall be “regularly updated” to include countries that will officially report detection of the variant. As such, the DOH and the DFA’s joint recommendation for the inclusion of a country on the

list may only be based on official sources, specifically: the official detection of the variant in a country as published in the respective government’s official channels, or official notification of a country to the International Health Regulations. Unofficial reports, including those reported by media outlets, do not qualify as official sources and therefore cannot be used as basis in recommending travel restrictions from a specific country. Meanwhile, travelers from countries not included on the travel ban list shall be endorsed to the local government units once they test negative in RT-PCR tests at the point of entry. Despite negative results, LGUs are strongly urged to ensure that travelers complete their 14-day quarantine period either at a facility or at home. Claudeth Mocon-Ciriaco

BEMEDALED GENERAL, MMDA CHIEF DANNY LIM DIES By Claudeth Mocon-Ciriaco

ETROPOLITAN Manila Development Authority (MMDA) Chairman Danilo Lim, one of the most active officials during the Covid-19 pandemic, passed away around 7 a.m. of January 6 due to cardiac arrest, his family said. He was 65. The MMDA family condoled with his relatives, even as several staff who had face-toface dealings with him went on quarantine, since Lim had announced on December 29 he was infected with Covid-19. They all underwent RT-PCR tests but all tested negative for it, Assistant Secretary Celine Pialago said in a radio interview. A former Army general, Lim is survived by his wife Rep. Aloysia Tiongson-Lim and daughter Aika. In a statement, Presidential spokesman Harry Roque said Lim, who is known for his “professionalism, competence and integrity,” will be missed in the Cabinet. For his part, Presidential chief legal counsel Salvador Panelo remembered Lim for his principle and being a gentleman. “Behind the exterior of gentleness and humility was an iron-clad ferocity of a man trained in the art of warfare and strategy and deep-seated conviction of protecting the people’s welfare,” Panelo said in a separate statement. Lim was part of the Philippine Military Academy Makatarungan Class of 1978 and a graduate of the United States Military Academy (USMA) at West Point. During his military career, he earned multiple accolades, including the Presidential Medal of Merit. Health Secretary Francisco

T. Duque III said that the Department of Health expressed its sincerest condolences to the MMDA and the family of Lim, whom he called a “true leader and frontliner.” Lim served as MMDA chairman under the Duterte administration, from May 2017 to present. Lim was credited with initiating efforts in alleviating problems confronting Metro Manila by going back to the basics. He also focused on instilling and implementing strict discipline among agency employees. Under his helm, the welfare of the employees got priority, as Lim ensured they receive accident insurance and other appropriate benefits. He also envisioned the MMDA to be one of the most transparent government agencies that the public can trust. Lim was never embroiled in any scandal despite being jailed for his role in the 1989 coup plot against President Corazon Aquino. He was later involved in an alleged destabilization plot against President Gloria Macapagal Arroyo.

Mayors remember

BOTH San Juan City Mayor Francis Zamora and Pasay City Mayor Emi Calixto-Rubiano said they will remember Lim as a remarkable public servant and said his death is a big loss to the country. “On behalf of the Local Government of Pasay and our people, I express my deepest condolences to the family, loved ones, friends and colleagues of MMDA Chairman Danny Lim who passed away today, January 6. I have known Chairman Danny Lim, or General Danny Lim as he is also called by many because of his extraordinary performance in the military, as a strong and visionary leader,” Calixto-Rubiano said.

MMDA Chairman Danilo Lim MMDA.GOV.PH

As chairman of the MMDA, the mayor recalled, Lim had provided the local government units the needed “enabling support” in the implementation of measures aimed at enhancing life and mobility in the metropolis, and especially in their Covid-19 response through the Metro Manila Council. “I particularly witnessed his remarkable leadership and discipline during the numerous activities which we either both supervised or participated in. May his soul rest in eternal peace, through the mercy of our Almighty God. He is a truly great loss to our country,” she concluded. For his part, Zamora said San Juan is saddened by the passing of “an officer and a gentleman.” Zamora added, “Our nation has lost a true public servant, whose integrity and leadership

are worth emulating. As a military officer he had served with courage and bravery, and as the Chairman of Metropolitan Manila Development Authority he had served with discipline and dynamism.” Zamora felt honored and humbled to have worked with Lim on programs and initiatives to make San Juan City and the whole of Metro Manila a safer and better place. From road clearing to reclaim and bring back the public roads to pedestrians, to easing the traffic flow in and out of San Juan, to instilling discipline to his constituents, and in their “fierce fight against this pandemic in the Metro Manila Council—truly the wisdom, knowledge and experience he had shared with me and the Metro Manila mayors are indeed valuable.” With Samuel P. Medenilla

PHL economy seen last to recover in region Continued from A1

and Vietnam led the recovery as they have already recovered in 2020. Hong Kong is next in line with its recovery slated for the first quarter of this year. South Korea, Indonesia and Australia will regain pre-Covid growth levels by the second quarter of this year, to be followed by Thailand by the third quarter of this year. Singapore, New Zealand,

Malaysia and Japan are expected to bounce back in the fourth quarter of this year, while India is expected to return to its prepandemic strength by the first quarter of 2022. “The region is working to obtain sufficient vaccine supplies. While behind North America and Europe, most of the larger AsiaPacific countries have secured enough doses at this point to vaccinate roughly 75 percent of their populations. An important exception is the Philippines, which has made little progress so far,”

Moody’s Analytics said. While Moody’s Analytics lauded the country’s monetary policy response along with other countries in the region, it also cited the fiscal stimulus as an integral reason behind their forecast. “Fiscal policy is also supportive and should remain so in the coming year. Malaysia, Singapore, Australia, Japan and Thailand stand out in terms of the amount of fiscal stimulus.... Japan has approved an additional US$708 billion stimulus speeding plan for

2021.... Singapore and Malaysia are expected to continue fiscal support, and Indonesia’s central bank is committed to provide interestfree funds to the government for targeted fiscal spending at least through mid-2021,” Moody’s Analytics said. “India and the Philippines are the least committed to fiscal stimulus, even though they were the two most hard-hit economies from Covid-19 and their subsequent lengthy and strict quarantine policies,” it added.

Growth rests on Covid-19 handling globally–WB Continued from A1

REINHART: “Financial fragilities in many of these countries, as the growth shock impacts vulnerable household and business balance sheets, will also need to be addressed.” WORLDBANK.ORG

Among low-income economies, the World Bank said economic activity is projected to increase 3.3 percent in 2021, after a contraction of 0.9 percent in 2020. The World Bank said the global recession in 2020 was less severe than initially expected due to the robust recovery in China. The Washington-based lender also said the growth in emerging markets and developing economies was also more acute. “Financial fragilities in many of these countries, as the growth shock impacts vulnerable household and business balance sheets, will also need to be addressed,” Vice President and World Bank Group Chief Economist Carmen Reinhart said. In December 2020, the World Bank said the Philippine economy is expected to post a contraction of 8.1 percent in 2020 before posting a growth of 5.9 percent in 2021 and 6 percent in 2022. The World Bank said these projections were based on the Covid-19 health crisis, economic activities across the country frozen by quarantine measures, devastating typhoons in November, and the global recession. The Philippine Economic Update stated that the country would recover in the next two years, assuming continuing improvements in bringing down virus transmission. The World Bank said policymakers are gradually allowing more industries to resume operations, thus reviving jobs and incomes, and boosting private consumption.

Debt… Continued from A1

External debt as of end-November comprised government securities (P1.65 trillion) and loans (P1.29 trillion). Due to net repayment on both domestic and external guarantees amounting to P4.26 billion, total guaranteed obligations slid by 1.1 percent to P442.83 billion as of end-November from P447.85 billion as of end-October last year. Since the beginning of the year, total guaranteed obligations fell by 9.4 percent from P488.75 billion as of end-2019. Domestic guaranteed debt as of end-November declined by 1.6 percent to P226.9 billion from P230.5 billion as of end-October. Meanwhile, external guaranteed debt as of end-November last year was down by 0.7 percent to P215.92 billion from P217.35 billion as of end-October. The local currency appreciation against the US dollar also further trimmed the value of external guarantees by P1.4 billion. These more than offset the P0.63 billion effect of third-currency appreciation on external guarantees. The Development Budget Coordination Committee expects the country’s debt-to-GDP ratio by end of 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. For this year, economic managers expect outstanding debt to swell to P11.98 trillion and the country’s debt-to-GDP ratio to further rise to 58.28 percent.

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Editor: Vittorio V. Vitug • Thursday, January 7, 2021 A3

Virus raises NCR death rate by 5.8% from Jan to Nov–PSA By Cai U. Ordinario @caiordinario

EATHS caused by Covid-19 complications have raised the mortality rate of Filipinos residing in the National Capital Region (NCR) from January to November 2020, according to the Philippine Statistics Authority (PSA). Based on the preliminary death statistics for 2020, PSA said total deaths in NCR increased by 5.8 percent to 76,140 in the January to November 2020 period from

71,936 deaths in 2019. The City of San Juan posted the highest increase in total deaths at 15.2 percent. But in terms of absolute total deaths, Quezon City registered the most at 16,403 during the period. “The number of deaths due to Covid-19 contributed to the increase in the total number of registered deaths in the National Capital Region from January to November 2020, compared to the same period in 2019,” National Statistician Claire Dennis S. Mapa told the BusinessMirror.

The total number of deaths in San Juan City reached 818 in January to November 2020, from 710 deaths in the same period in 2019. This only represented 1.1 percent of NCR deaths in 2020. Cities and municipalities in Metro Manila with double-digit increases in deaths were Las Piñas at 10.7 percent; Pasig, 10.3 percent; and Pateros at 10.2 percent. PSA said total deaths in Quezon City, which only increased 3.5 percent, accounted for 21.5 percent of total deaths in Metro Manila.

There were a total number of 16,403 deaths in Quezon City between January and November last year. This was higher than the 15,848 deaths recorded in the same period in 2019. The City of Manila came in second to Quezon City in terms of the most number of deaths in Metro Manila. There were 11,712 deaths between January and November 2020. “Meanwhile, declines in the registered deaths during the period were recorded in the City of Mandaluyong [-6.1 percent] and City of Navotas

[-4.4 percent],” PSA said. The preliminary number of registered deaths nationwide from January to November 2020 reached 515,056, lower than the total registered deaths of 568,552 in the same period in 2019. PSA said registered monthly deaths in 2020 were lower than their respective months in the previous year, July and August already recorded higher deaths at 53,919 and 55,490, respectively. Data showed that deaths that were registered beyond 30 days after

the occurrence remained highest for March and April 2020 deaths. PSA said late registrations for March 2020 deaths, which reached 6,275, is almost six times of the 1,067 March 2019 late registrations. April 2020 late registration of 5,732 was more than four times of the recorded 1,249 in April 2019. In terms of share of late registered deaths since January, about 32.6 percent were March deaths while 29.8 percent were April deaths, majority of which were registered in June.

No UK Covid variant case in PHL, health officials say NBI to conduct own probe on flight By Claudeth Mocon-Ciriaco Correspondent

& Recto Mercene @rectomercene

HE Department of Health (DOH) and the Philippine Genome Center (PGC) on Wednesday maintained that the UK variant, or B117 Covid-19 strain, has not yet been detected in the country following reports that a Hong Kong resident, who had traveled from Manila, was infected with the strain. At a media forum, Health Undersecretary Maria Rosario Vergeire said that they have already coordinated with the International Health Regulation (IHR) Focal Point from the Ministry of Health to request further details. Vergeire also said that they are retrieving the flight manifest for the identified flight. Of the 40 Philippine Airlines passengers, the DOH has zeroed in on two 30-year-old female passengers on that flight. “However, when we tried to call them, we can no longer reach them,” Vergeire said adding that intensive contact tracing is already under way.

D614 still dominant

DR. CYNTHIA SALOMA, University of the Philippines-Philippine Genome Center, said that the most dominant prevailing strain is still the D614 based on variant analysis of November-December samples from hospitalized patients and inbound passengers from Cordillera Administrative Region, Calabarzon, National Capital Region, and Region 12. Dr. Saloma emphasized that despite their “deep” sequencing, they were not able to detect the new variant as shown by the PGC’s “most powerful machine.” Based on the lineage analysis through whole genome sequencing

However, when we tried to call them, we can no longer reach them.

Health Undersecretary Maria Rosario Vergeire

done by the PGC, the UK variant was not detected in any of the 305 positive samples submitted to them from nine institutions. The DOH said that the 305 samples analyzed by PGC were composed of positive samples from NovemberDecember hospital admissions and from inbound travelers who tested positive upon arrival at the airport. Dr. Saloma said that it is still important that the public should observe minimum public health standards (MPHS), emphasizing that it is still the best measure to cut transmission of the variant and minimize the opportunities for virus mutation. The DOH also called on all local government units and the transport regulators to continuously implement the health protocols in all settings.

Negative results

DURING the forum, it was confirmed by Vergeire that the passengers from the Philippines who arrived in UK yielded negative test results. Trying to explain such confusing situation, Dr.Edsel Maurice Salvana, DOH Technical Advisory Group said that “it depends on the timing.” Salvana said that there is a negative result on December 22, there is a possibility that the person may test

positive in 3 to 5 days. “And if nag-test siya sa Hong Kong after December 27, it is more likely na doon niya nakuha ’yon [If the person was tested again in Hong Kong after December 27, it is more likely that the person got the virus there],” Salvana said. The Covid-19 cases in the country rose to 480,737 on Wednesday.

Contact tracing under way

MEANWHILE, flag carrier Philippine Airlines (PAL) on Wednesday said it has turned over to the Bureau of Quarantine (BOQ) the necessary information to enable them to carry out contact tracing procedures on one of the airline’s passengers who was found to have been infected with the new Covid-19 variant upon arrival in Hong Kong last January 2, 2021. “PAL is fully cooperating with health authorities and strictly adheres to vital health and safety protocols to help ensure that air travel is safe even during the pandemic,” said the carrier’s spokesman Cielo Villaluna. She said the passenger, whose identity PAL cannot disclose, presented a negative Covid-19 test before taking the Manila to Hong Kong flight three days before Christmas. PAL said Chuang Shuk-kwan,

head of the Hong Kong Health Department’s communicable disease branch, said in a virtual briefing they found the new variant from a 30-year-old female resident who arrived from Manila on December 22 via a Philippine Airlines flight. The BusinessMirror has learned from highly reliable airport sources that the passenger is a permanent resident of Hong Kong. While booked in a hotel in the Special Administrative Region for quarantine protocols, the passenger’s Covid-19 variant was detected on the sixth day of her stay by health officials. The passengers was located and immediately transferred to their own quarantine facility for treatment. The BOQ is now conducting contract tracing for some Hong Kongbound passengers aboard PAL Flight PR-300 last December 22, 2020, inspecting the passenger manifest and contact numbers of every passenger on that flight in compliance with safety protocols. Hong Kong requires a negative Covid-19 test prior to arrival. Villaluna is checking whether the passenger took the Covid-19 test at their facility since PAL has offered discounted Covid-19 testing to all of their passengers. In an advisory, PAL has offered its domestic and international passengers, who needed the reverse transcription polymerase chain reaction (RT-PCR) testing, at their testing center in Ermita, Manila. PAL has the Detoxicare Molecular Diagnostics Laboratory as its DOHaccredited partner. The flag carrier, starting December 1, has offered it’s ticket holders a P500 discount from the P4,500 regular rate. PAL ticket holders may choose either a drive-thru or walk-in service option. The testing facility is open daily from Monday to Sunday from 8 a.m. to 5 p.m. with no noon break.

attendant’s rape-slay at Makati hotel By Joel R. San Juan @jrsanjuan1573

HE National Bureau of Investigation (NBI) will undertake its own medical examination of the body of Philippine Airlines (PAL) flight attendant Christine Dacera to determine the cause of her death following a New Year’s Eve party at a hotel in Makati with 12 male companions. This was disclosed by Department of Justice (DOJ) Menardo Guevarra following a discussion with the NBI on the controversial case. The Philippine National Police (PNP), through its chief, Gen. Debold Sinas had earlier reported to the Interior Secretary Eduardo Año that the Dacera case is now considered solved with the provisional indictment for rape with murder of the 12 suspects, three of them are now under police custody. However, this pronouncement of the PNP drew criticisms after some of the suspects claimed that they were not capable of doing the crime since they were gays. An initial medico-legal report also indicated multiple contusions and abrasions found on the victim’s body, while the cause of death was “ruptured aortic aneurysm,” which is contrary to the PNP’s claim. Guevarra said NBI Officer in Charge Eric Distor informed him that the NBI would be conducting a second autopsy to determine Dacera’s real cause of death. “The NBI forensic medicine team is presently providing assistance to and coordinating with the PNP Makati SOCO [Scene of the Crime Operatives] to determine the true cause of death of Christine Dacera,” Guevarra said. Guevarra earlier said the justice department is ready to issue a travel alert order against the suspects who

have yet to come out and shed light on Dacera’s death once a formal complaint is filed against them. The 23-year-old Dacera was found unconscious in a bathtub of a hotel room in Makati after celebrating the New Year with the suspects. She was rushed to the hospital but was declared dead upon arrival. The Makati City Prosecutor’s Office, meanwhile, ordered on Wednesday the release of three of the suspects in the alleged rape-slay of Dacera. In a resolution released late in the afternoon following an inquest proceedings, City Prosecutor Dindo Venturanza decided to refer the case for further investigation after a thorough evaluation of the facts and evidence presented. Ordered release from detention were John Pascual Dela Serna III, Rommel Galido and John Paul Halili. Venturanza said there is a need to conduct regular preliminary investigation of the case to determine whether Dacera was raped and/or killed, and if yes, the identities of the persons responsible therefor. He added that the preliminary investigation should answer whether the death was by reason or on occasion of rape or for other reasons—the actual cause of death. “The same complaint against the other respondents who remain at large, namely, Gregorio Angelo Rafael De Guzman, Clark Rapinan, Valentine Rosales, Mark Anthony Rosales, Rey Ingles y Mabini, Louie De Lima, Jammyr Cunanan, and alias Ed Madrid, shall also undergo the same preliminary investigation,” the resolution read. In the three-page resolution, the investigating prosecutor also directed the police officers to submit additional evidence, such as the DNA analysis report, toxicology/chemical analysis, and the histopath examination report.

Criminal raps filed against 54 suspects San Jose del Monte, Bulacan leaders for illegal streaming of MMFF movies assure free vaccination for residents

HE Metro Manila Film Festival (MMFF) has filed criminal charges against 54 suspects apprehended by the Optical Media Board (OMB) and the festival’s Anti-Piracy Task Force for illegally streaming, downloading and distributing film entries of the ongoing film festival. Violations of Republic Act 8293, otherwise known as Intellectual Property Code of the Philippines, and RA 9239, or Optical Media Act of 2003, shall be filed against four of the suspects who were taken into custody by agents of OMB in separate operations in Manila City and Quezon City. Same charges shall be filed at the Department of Justice (DOJ) against 49 others behind social-media accounts for illegally streaming, downloading and commercially distributing MMFF movies online. The late Metropolitan Manila Development Authority (MMDA) and concurrent MMFF Chairman Danilo Lim on

Tuesday said they will keep on working together with members of the task force to make sure that violators are caught and brought to justice. “Remember: Piracy is a crime. We shall pursue these violators to the full extent of the law and we shall keep a close watch against film pirates,” said Lim. The MMDA chief passed on Wednesday morning (January 6). He also thanked OMB Chairman Christian Natividad for their swift action in going after the violators as he looks forward in welcoming him in the Execom in the MMFF 2021. “Let us not watch or buy pirated copies, not only that it is illegal but patronizing them would discredit Filipino filmmakers’ hard work, talent, money, tears and blood put into their projects,” Lim added. The MMFF AntiPiracy Task Force, headed by Executive Committee member Rep. Dan Fernandez, coordinated with the OMB, Philippine National Police, Department of Information and Communications

Technology, National Bureau of Investigation, Globe, Upstream, and movie producers. In line with this, Lim also ordered the creation of a permanent working committee for MMFF to work with law enforcers to arrest and prosecute violators of the anti-piracy law. Lim also urged the public to watch all entries only at the MMFF’s official partner. All 10 MMFF entries can be watched exclusively via Upstream.ph until January 7. “The best way we could help our local moviemakers and producers is by not engaging in movie piracy. We urge everyone to report cases of piracy or anyone caught recording and selling MMFF entries,” said Lim. The 10 official entries are: Magikland, Coming Home, The Missing, Tagpuan, Isa Pang Bahaghari, Suarez, the Healing Priest, Mang Kepweng, Ang Lihim ng Bandanang Itim, Pakboys Takusa, The Boy Foretold by the Stars, and Fan Girl. Claudeth Mocon-Ciriaco

AYOR Arthur Robes and Rep. Florida Robes of the City of San Jose del Monte in Bulacan have assured their constituents that receive their antiCovid-19 jabs for free. Rep. Robes said the city will avail of free government vaccines, adding “We will shoulder the rest if the demand is higher. Everyone will get a jab free of charge.” The lawmaker said she is seeking approval and guidance from the InterAgency Task Force for the Management of Emerging Infectious Diseases (IATFEID) as to what vaccine will be tapped and when they can start mass inoculation.

1-M population

“NO one will be left out in the vaccination in San Jose del Monte. This is for our own protection,” said Mayor Robes. Rep. Robes said the first priority for thevaccinationwillbemedicalfrontliners, security personnel, the elderly, children and persons with co-morbidities. “I regularly talk to the IATF-EID to update us on the process,” she said. The Robeses said the local government continuestostrictlyenforcehealthprotocols for the public as first line of defense.

COVID-19 VACCINE ROLLOUT

Mayor Lino Cayetano, together with other city officials, meets City Health Office official on Tuesday to discuss the rollout of Covid-19 vaccines in the city. In the meeting, they tackled the protocols and mechanisms to effectively distribute vaccines for all Taguigeños for free. On Tuesday, the city announced a P13.5-billion recovery fund for 2021, including P1 billion for vaccines. The inoculation program will complement disease surveillance and treatment programs that will also continue for the year.

“We urge the public to continue observing health protocols,” Mayor Robes said. As of December 30, San Jose del Monte only has 40 active cases, or just 2 percent, out of 1,729 confirmed Covid-19 cases with 1,608 recoveries and 81 deaths. Last December 4, San Jose del

Monte reached a milestone in its history when President Duterte signed Proclamation 1057, converting it into a highly urbanized city. A plebiscite will be held to ratify the proclamation. “ T his is a not her impor t a nt milestone for San Jose del Monte. We thank President Duterte for signing the proclamation,” said Rep. Robes.

A4 Thursday, January 7, 2021 • Editor: Vittorio V. Vitug

Economy BusinessMirror

Breeder shortage drives broiler farm-gate price hike after holidays By Jasper Emmanuel Y. Arcalas @jearcalas

HE probable shortage of breeders could be driving farm-gate prices of broilers to increase further by as much as P124 per kilogram even after the Christmas season, which the United Broiler Raisers Association (UBRA) noted as an unusual trend to start a brand new year. UBRA President Elias Jose Inciong said farm-gate prices of live broilers in key producing provinces continue to increase at the start of the New Year, an unusual trend since prices historically collapse after Christmas. Inciong explained that farm-gate prices of broilers normally go down after the Christmas season due to lower demand and higher stocking by raisers.

Latest UBRA price survey as of January 4 showed that the average price of off-sized broilers was at P112 per kilogram, while regular-sized broilers and prime-sized broilers were quoted at P115.67 per kg and P118 per kg, respectively. The UBRA price survey showed that the farm-gate price of broilers in the week of December 28 was ranging from P108 to P109.5 per kg and was P99.5 to P100 per kg in the week of December 18. Historical UBRA data showed that farm-gate prices in January 2020 fell to P77.56 per kg from P98.53 per kg in December 2019; January 2019 prices declined to P66.54 per kg from P78.24 per kg in December 2018; January 2018 average prices was at P79.28 per kg compared to December 2017’s P96.56 per kg. Inciong said the recent price uptick could be attributed to the re-

duction at the breeder side, which produces day old chicks (DOC) of broilers, due to drop in demand last year. “We think the breeders have culled significantly, including the big players themselves,” he told the BusinessMirror. Inciong said the price of DOC right now is at P38 per piece, which he noted could still go up to P40 per piece, which is double the usual prepandemic price of DOCs. “It’s more expensive and yet you do not have the quality assurance of the chick that you are getting. Some raisers might go on a ‘set all’ buying spree just to have the stocks they need regardless of quality of DOCs,” he said. “Usually raisers would opt for the quality chicks with uniform age to ensure ideal growth and production. Even the hatching eggs that usually

are considered as rejects are being bought right now,” he added. Inciong said they are now receiving reports from the field that some raisers are experiencing “runting” among their flocks, which means broilers are smaller than ideal size. UBRA have estimated earlier that chicken meat demand is down by 30 percent due to loss of hotel, restaurants, and institutions (HRI) segments and they do not see any signs of immediate recovery from these buyers. A Global Agricultural Information Network (GAIN) report estimated that chicken meat output last year fell by almost 14 percent to 1.25 million metric tons (MMT) from 1.45 MMT recorded in 2019. The GAIN report projected that production would rebound this year to 1.375 MMT on the back of higher farm-gate prices.

Amid ‘baby boom,’ Sen. Win presses health interventions for infants, moms By Butch Fernandez @butchfBM

EN. Sherwin T. Gatchalian on Wednesday pressed for health interventions to promptly aid vulnerable infants and mothers in the midst of a “baby boom.” Citing the Commission on Population and Development (POPCOM) projecting an upsurge of “lockdown babies” to peak in the first half of 2021, Gatchalian stressed the need to provide health and nutrition interventions for vulnerable infants and mothers, especially those in farflung and poverty-stricken areas. The senator clarified in a statement these interventions and programs are already provided for under the “Kalusugan at Nutrisyon ng Mag-Nanay Act” (Republic Act 11148) or the “First 1,000 Days Law,” which aims to scale up nutrition intervention programs in the first

1,000 days of a child’s life, from conception up to the second birthday. Gatchalian assured that the law gives priority to those who are living in unserved and underserved communities. He assured that the 2021 General Appropriations Act allotted P100 million in the Department of Health (DOH) budget for the complementary feeding program of pregnant women and children aged zero to 24 months, assuring the allocation covers dietary supplements, purchase of therapeutic milk and other protein-enriched foods to improve the nutritional status of mothers and infants. The senator affirmed that local government units with the highest prevalence of undernutrition and nutrition deficiency among pregnant and lactating mothers and children aged zero to two years old will be among those prioritized

for this program. Citing projections of a baby boom ensuing from the extended lockdowns due to the Covid-19 pandemic, he stressed the need to give priority to ensure the health of both mothers and newly born babies until they are two years old. “Ngayong inaasahan natin ang pagdami ng mga ipapanganak na sanggol sa kalagitnaan ng pandemya ng Covid-19, mahalagang bigyan natin ng prayoridad ang kalusugan ng parehong ina at mga anak mula sa pagbubuntis hanggang sa edad na dalawang taon,” the senator said. Gatchalian recalled the World Health Organization (WHO) reminder that poor nutrition during the first 1,000 days of life could lead to stunting or impaired growth and development, which, he adds, is linked to poor educational performance and poorproductivity. It is also linked to nutrition-related chronic

diseases in adult life when accompanied by excessive weight gain. The senator also cited the Global Nutrition Report 2020, noting 30.3 percent of Filipino children under five are still affected by stunting. He added that according to the University of the Philippines Population Institute (UPPI) and the United Nations Population Fund (UNFPA), 2.5 million unplanned pregnancies are expected to be recorded by the end of 2020. Gatchalian, moreover, stressed the importance of appropr iate reproductive health education to adolescents in the formal and non-formal systems of education which, he noted, is mandated by the Responsible Parenthood and Reproductive Health Act of 2012 (Republic Act 10354), voicing hope “this will help curb teenage pregnancies nationwide.”

www.businessmirror.com.ph

Duterte extends validity of ’20 GAA, Bayanihan 2 By Samuel P. Medenilla @sam_medenilla

OVERNMENT agencies and local government units (LGU) will now be able to spend their funds under the Bayanihan to Recover as One Act (Bayanihan 2) and the 2020 General Appropriations Act (GAA) this year. T his after President Duterte signed into law Republic Act (RA) 11519 and Republic Act 11520 on December 29, 2020. RA 11519 will extend the validity of the budget allocation for programs, projects, and activities of government agencies, as well as fund releases for LGUs and Government Financial Institutions (GIF) for programs, projects, and activities under Bayanihan 2 until June 30, 2021. The extension period also covers the standby fund provided by Bayanihan 2. The new law, however, noted the extension will not apply for fund releases to the LGUs and GIFs sourced from savings in the 2020 GAA. It also stressed that the authority of the President to reprogram, reallocate, and realign from savings and other items in the appropriations of the Executive department in 2020 GAA already lapsed on December 19, 2020, which is also the date of the expiration of Bayanihan 2.

End of the year

MEANWHILE, RA 11520 amend-

ed the provision of the 2020 GAA to allow appropriations, including budgetary support for governmentowned and -controlled corporations (GOCC) and financial aid for LGUs, to be released and disbursed until December 31, 2021. It added statutory shares of LGUs shall be available for obligations and disbursement until fully expended. Also covered by the extension are capital outlay for infrastructure, as well as maintenance and other operating expenses (MOOE). “The appropriations for infrastructure capital outlays, including those subsidy releases to GOCC for infrastructure projects shall be valid for obligations until December 31, 2021, while the completion of construction, inspection, and payment shall be made not later than December 31, 2021,” the law read. “On the other hand, appropriations for MOOE and other capital outlays item shall likewise be valid for obligation until December 31, 2021, while the delivery, inspection, and payment shall be made not later than December 31, 2021,” it added. RA 11519 and RA 11520 requires unexpended or undisbursed funds to be returned to the national treasury after the end of the respective validity period of both legislations. The Department of Budget and Management (DBM) may issue additional guidelines for the implementation of both legislations.

PHL sets end-Jan goal in 1st tranche Covid vaccine buy continued from a12

Domingo said the evaluation of the application will be brief since it already secure an EUA from the United Kingdom, United States, Canada, Switzerland, Singapore and was included in the World Health Organization’s (WHO) Emergency Listing. He said FDA may be able to come out with the decision on the EUA application of Pfizer by January 14, 2021.

Derailed implementation

WHO recognized the ongoing efforts of the government to prepare for its Covid-19 vaccination drive, which is expected to start within the first half of the year. “Based from what we observe, Philippines

is on track in terms of its preparation for the vaccines introduction and for the vaccines rollout including the distribution of the vaccines across the country,” WHO country coordinator Socorro B. Zarate-Escalante said. She, however, said this may be derailed by the “public demands and pressure.” “So what I’m trying to say here is while the government is ensuring that the deployment of the vaccine will be systematic and organized, the public would need to support that organization and systematic distribution of the vaccine so it will not be derailed and we will be able to rollout the vaccines in a proper way,” Escalante said.

Duterte’s OK of ALS law lauded Estrella-Pantaleon Bridge 72% complete; Q2 reopening eyed

RESIDENT Duterte’s signing into law of the Alternative Learning System (ALS) Act is expected to help millions of outof-school children, youth, and adult learners, as well as Madrasah students, indigenous peoples, learners with disabilities, and other marginalized sectors, lawmakers said. Tingog Party-list Rep. Yedda Marie K. Romualdez and House Majority Leader and Leyte Rep. Martin G. Romualdez said the ALS law will institutionalize ALS, a parallel learning system for non-formal sources of knowledge and skills. “This law will strengthen State support and mechanisms so our learners will be able to complete the appropriate and functional literacy, life skills and basic education they deserve,” Rep. Yedda, chairman of the House Committee on Welfare of Children and a principal author of the measure, said. “This is a signal that we have to work harder to ensure that our learners would directly benefit from this law and that the long-term goals of this

measure will be realized,” she added. For his part, Majority Leader Romualdez, also a principal author, said the signing of the law is a step toward the fulfillment of our goal to provide education for all. “Through this law, the government will not just support our ‘out-of-school children in special cases’ and adults, but also ALS teachers,” he added. Under the ALS Act, the Department of Education (DepEd), in consultation with the Department of Budget and Management and the Civil Service Commission (CSC), shall create teaching positions and allocate corresponding salary grades to help strengthen the ALS Teachers Program. ALS teachers will also be entitled to promotion to the next higher levels based on the qualification standards of the CSC. Out-of-school children in special cases are children of official school age who are not enrolled in elementary or secondary schools due to economic, geographic, political, and cultural factors, and even social barriers. Jovee Marie N. Dela Cruz

EPARTMENT of Public Works and Highways (DPWH) Secretary Mark A. Villar has announced that by second quarter of 2021, motorists will be able to utilize the widened and modernized EstrellaPantaleon Bridge that links Estrella Street in Makati City and Barangka Drive in Mandaluyong City. While leading a technical inspection on Wednesday, January 6, Villar said that construction of EstrellaPantaleon Bridge is now more than 72 percent done and is 8 percent ahead of schedule. Part of the Edsa decongestion program and funded by a grant from China, Villar was joined in the inspection by DPWH Undersecretary for Unified Project Management Office (UPMO) Operations Emil K. Sadain, UPMO Roads Management Cluster 1 Director Virgilio Castillo, and Project Manager Melchor Kabiling. Designed to decongest Guadalupe Bridge along Edsa, the main bridge of Estrella-Pantaleon is a 146.0-meter

pre-stressed concrete girder bridge with V-shaped piers, while the approach bridge/viaduct is a 66.0-meter prestressed continuous girder bridge. The approach roads at both sides have a length of 294.46 meters. Already completed are all bridge substructure works on abutments of both sides; piers on Makati approach as well as main bridge; as well as the V-shaped piers for the main bridge. Also completed are concrete

pouring works for four segments of prestressed concrete girder in Mandaluyong side and concrete pouring works for the first lift of box girder for the approach bridge in Makati. The project’s accelerated schedule was the result of Secretary Villar’s instruction to the DPWH-UPMO to push the construction to proceed more quickly so that the bridge can be opened for public use earlier. Villar said that DPWH-UPMO un-

der the direction of Sadain is doing all necessary measures of conducting a thorough inspection from time to time for resolution of technical issues, ensure quality standards and safety and to keep up with the pandemicrelated challenges and backlog. According to Sadain, the DPWHUPMO Roads Management Cluster 1 is now working on the remaining civil works covering formworks and rebar installation in two segments of prestressed concrete girder in Mandaluyong side and two more segments in Makati side, as well as for the second lift of box girder for the approach bridge in Makati side in order to complete the bridge. Once fully completed, the motoring public can expect traffic relief by providing additional fix link and alternative route crossing the Pasig River using a new two-way four-lane bridge with a total length of 506.46 meters and width of 21.65 meters, having 3-meter sidewalks on both sides, said Sadain.

QC residents urged to get med travel clearance from local health centers

UEZON City residents who are planning to travel outside Metro Manila are advised to secure their medical travel clearance from a health center near them. This after the City Health Department (CHD) announced it will no longer be issuing the said clearance

from the city hall. “We encourage our QCitizens to go to their health center preferably during the afternoon when the volume of patients is low,” said CHD chief Dra. Esperanza Arias. Residents who will be securing a medical travel clearance should accomplish the downloadable health

declaration form https://quezoncity. gov.ph/wp-content/uploads/2021/01/ QCHD-Health-Declaration-Form.pdf. They should also bring a government-issued identification card and a barangay clearance that will verify their residence and will show that they are not in the list of Covid-19 suspect, probable, nor

confirmed individuals. Applicants who will bring with them children aged 18 years old and below must present documents showing their relation to the said minor i.e., birth certificate. Applicants who will be accompanied by senior citizens, or those 60 years old and above, meanwhile,

must present documents indicating that they have the same residence. The complete list of health centers per district can be accessed from this link: https://quezoncity.gov.ph/ qcitizen-guides/how-to-get-a-medicaltravel-clearance-and-a-travel-pass/. Applicants must go to the health center located at or near their baran-

gay. They must also take note of the doctor’s schedule before heading to the center. In instances when the assigned doctor is unavailable or schedules don’t match, the applicants are advised to proceed to the next nearest health center within the same cluster in their district.

BusinessMirror

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ESTABLISHMENT / ADDRESS FOREIGN NATIONAL / NATIONALITY

ESTABLISHMENT / ADDRESS

ESTABLISHMENT / ADDRESS POSITION

NO.

50.

XIONG, TAO Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

88.

KONG, LINGTAO Chinese

51.

YAN, BAOYIN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE CHINESE CUSTOMER SERVICE REPRESENTATIVE

CHINESE CUSTOMER SERVICE

52.

YANG, BIAO Chinese

89.

KOU, FENGJIE Chinese

53.

YANG, HU Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

90.

LI, MEIYING Chinese

CHINESE CUSTOMER SERVICE

54.

YU, LIMIN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

91.

LI, QINCE Chinese

CHINESE CUSTOMER SERVICE

FLY ASIAN INTERNATIONAL CORPORATION Eighty One Newport Blvd. Newport City Va, Brgy. 183 Pasay City

55.

YU, JUWEI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

92.

CHINESE CUSTOMER SERVICE

HU, LUYANG Chinese

MARKETING CONSULTANT (MANDARIN SPEAKING CLIENTS)

56.

ZHANG, GUANGFENG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

LI, YANMEI Chinese

57.

CHINESE CUSTOMER SERVICE REPRESENTATIVE

CAI, YIQI Chinese

ZHANG, QINGHUA Chinese

58.

CHEN, JULIANG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

ZHANG, CHANGRUN Chinese

59.

CHEN, HE Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

CHEN, KUN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

CHEN, YI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

10.

CHEN, BENFU Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

CHEN, ZHENGZHEN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

DENG, LIJIA Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

GAN, JINGQIANG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

POSITION

ACCENTURE, INC. 7f Robinsons Cybergate Tower 1 Pioneer St Mandaluyong City 1. 2.

LEE, SEUNGJIN South Korean

KOREAN LANGUAGE ANALYST

SAGAR, VIVEK PARVESH Indian

SERVICE DELIVERY OPERATIONS MANAGER

BRIGHTLEISURE MANAGEMENT INC. 10/f Newport Entertainment & C Newport City Manlunas Brgy. 183 Pasay City 3.

11. 12. 13.

BAYAR, TAYFUN Turkish

DIRECTOR FOR GAMING MARKETING

MALAYSIAN CUSTOMER SERVICE

155.

KOAY KENG CHEN Malaysian

MALAYSIAN CUSTOMER SERVICE

156.

SIM CHUN HONG Malaysian

MALAYSIAN CUSTOMER SERVICE

157.

MYINT MYAT THU Myanmari

MYANMARI CUSTOMER SERVICE

158.

MYINT NAING OO Myanmari

MYANMARI CUSTOMER SERVICE

159.

NAING LIN AUNG Myanmari

MYANMARI CUSTOMER SERVICE

160.

NANG MO AYE Myanmari

MYANMARI CUSTOMER SERVICE

161.

PHYO PHYO WAI Myanmari

MYANMARI CUSTOMER SERVICE

162.

SAI TUN THET PAING OO Myanmari

MYANMARI CUSTOMER SERVICE

163.

SI THU TUN Myanmari

MYANMARI CUSTOMER SERVICE

164.

SOE PAING OO Myanmari

MYANMARI CUSTOMER SERVICE

165.

TUN TUN LIN Myanmari

MYANMARI CUSTOMER SERVICE

166.

DO MINH THUY Vietnamese

VIETNAMESE CUSTOMER SERVICE

167.

LO QUANG SONG Vietnamese

VIETNAMESE CUSTOMER SERVICE

CHINESE CUSTOMER SERVICE

107.

LUO, HONG Chinese

CHINESE CUSTOMER SERVICE

108.

LUO, WEILIN Chinese

CHINESE CUSTOMER SERVICE

109.

MAI, JIAKANG Chinese

CHINESE CUSTOMER SERVICE

110.

MAI, JIALE Chinese

CHINESE CUSTOMER SERVICE

111.

MENG, JIANLI Chinese

CHINESE CUSTOMER SERVICE

112.

MIAO, SANXIONG Chinese

CHINESE CUSTOMER SERVICE

113.

PAN, KELIN Chinese

CHINESE CUSTOMER SERVICE

114.

PAN, CHAOMIN Chinese

CHINESE CUSTOMER SERVICE

115.

QI, LONGJUN Chinese

CHINESE CUSTOMER SERVICE

PRESIDENT / GENERAL MANAGER

PROCESS SPECIALIST

KP JOEUN CONSULTANCY INC Unit 7 Goldland Millenia Tower Escriva Drive Ortigas Center San Antonio Pasig City 66.

HAN, HANEUL South Korean

TRAVEL CONSULTANT/ INTERPRETER

MALUBIANBIAN SPICY RESTAURANT Unit 102-103, The Strip At Shores 2 Bldg. Seaside Blvd., Cor Sunrise Drive St., Moa Subd., Zone 10 Barangay 079, District 1 Pasay City GOU, YAN Chinese

CHINESE LEAD COOK

WU, XUEZHI Chinese

CHINESE SPECIALTY COOK

CHINESE CUSTOMER SERVICE

116.

QIAO, FEI Chinese

CHINESE CUSTOMER SERVICE

117.

SHAO, YONGQIANG Chinese

CHINESE CUSTOMER SERVICE

118.

SHEN, CHENBO Chinese

CHINESE CUSTOMER SERVICE

119.

SHI, MING Chinese

CHINESE CUSTOMER SERVICE

120.

SHI, QIXIAN Chinese

CHINESE CUSTOMER SERVICE

121.

SHI, FENG Chinese

CHINESE CUSTOMER SERVICE

122.

SONG, JINGYU Chinese

CHINESE CUSTOMER SERVICE

123.

SUN, HONGYU Chinese

CHINESE CUSTOMER SERVICE

124.

SUN, GUOCHAO Chinese

CHINESE CUSTOMER SERVICE

125.

SUN, ZHONGHUA Chinese

CHINESE CUSTOMER SERVICE

SOJITZ G AUTO PHILIPPINES CORPORATION Unit Ugc15 Edsa Grand Residences No.75 Corregidor St. Edsa, Ramon Magsaysay 1 Quezon City

126.

TAN, SHUYI Chinese

CHINESE CUSTOMER SERVICE

173.

127.

TANG, LIANGJUN Chinese

CHINESE CUSTOMER SERVICE

128.

TIAN, RUCAI Chinese

CHINESE CUSTOMER SERVICE

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

129.

WANG, XUAN Chinese

CHINESE CUSTOMER SERVICE

130.

WEI, GUOWEI Chinese

CHINESE CUSTOMER SERVICE

131.

WEI, JIANMING Chinese

CHINESE CUSTOMER SERVICE

132.

WEI, XINGXIANG Chinese

CHINESE CUSTOMER SERVICE

133.

WU, XIAOLONG Chinese

CHINESE CUSTOMER SERVICE

134.

WU, QIANKUN Chinese

CHINESE CUSTOMER SERVICE

135.

XIAO, YUSHENG Chinese

CHINESE CUSTOMER SERVICE

136.

XU, LEI Chinese

CHINESE CUSTOMER SERVICE

CHINESE CUSTOMER SERVICE REPRESENTATIVE

31.

MA, YONGLONG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

32.

MA, KELEI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

33.

MA, YITIAN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

34.

MENG, FANCHAO Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

CHEN, WEI Chinese

CHINESE CUSTOMER SERVICE

73.

CHEN, YIKUN Chinese

CHINESE CUSTOMER SERVICE

74.

CUI, JUNCHAO Chinese

CHINESE CUSTOMER SERVICE

75.

CUI, HONG Chinese

76.

DING, YUAN Chinese

CHINESE CUSTOMER SERVICE

77.

DU, DAWEN Chinese

CHINESE CUSTOMER SERVICE

78.

DUAN, XIANGNAN Chinese

CHINESE CUSTOMER SERVICE

79.

GAO, AILIN Chinese

CHINESE CUSTOMER SERVICE

80.

GONG, YONGLI Chinese

CHINESE CUSTOMER SERVICE

81.

HE, YUNFENG Chinese

CHINESE CUSTOMER SERVICE

PPL ENTERPRISES INC. 1170 Astoria Bldg. A Mabini St., 072 Bgy. 667 Ermita Manila 168.

GAWRI, PANKAJ Indian

CONSULTANT

169.

SHIVLANI, RONAK Indian

FINANCE CONTROLLER

170.

NANDWANI, SATISH KUMAR GOVIND Indian

TECHNICAL ASSISTANT

PRANCING DESEN TECHNOLOGY SERVICES INC. Unit 1620 Burgundy Transpacific Place Taft Ave. 079, Bgy. 727 Malate Manila 171.

CHINESE CUSTOMER SERVICE

83.

HU, XINGXING Chinese

CHINESE CUSTOMER SERVICE

84.

HUA, MENGJIAO Chinese

CHINESE CUSTOMER SERVICE

85.

HUANG, JIANFENG Chinese

CHINESE CUSTOMER SERVICE

CHINESE CUSTOMER SERVICE REPRESENTATIVE

86.

HUANG, BINGCAN Chinese

CHINESE CUSTOMER SERVICE

137.

YANG, FENG Chinese

CHINESE CUSTOMER SERVICE

CHINESE CUSTOMER SERVICE REPRESENTATIVE

87.

KAN, JUN Chinese

CHINESE CUSTOMER SERVICE

138.

YANG, XIUHANG Chinese

CHINESE CUSTOMER SERVICE

YANG, LIANGLIANG Chinese

MANDARIN CUSTOMER SERVICE

RUNHENG INC. B2 L7, T. Samson Ave. Llano, Brgy. 167 Dist. 1 Caloocan City 172.

174.

HOU, LIYUAN Chinese

82.

POSITION

CHINESE CUSTOMER SERVICE

LU, HONGYANG Chinese

72.

FOREIGN NATIONAL / NATIONALITY

CHEN, JIANFENG Chinese

30.

WEI, SHUMIN Chinese

CHAN CHEE XIANG Malaysian

LONG, XIAOMEI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

49.

154.

106.

LIU, BINGCAI Chinese

WEI, JIALIANG Chinese

CHINESE CUSTOMER SERVICE

65.

29.

48.

ZHOU, PING Chinese

LIU, JINSHENG Chinese

71.

CHINESE CUSTOMER SERVICE REPRESENTATIVE

153.

105.

MFOULOU, DANIEL AXEL Cameroonian

CHEN, CHI Chinese

WANG, QIANG Chinese

CHINESE CUSTOMER SERVICE

CHINESE CUSTOMER SERVICE REPRESENTATIVE

47.

ZHOU, JIANSHENG Chinese

LIU, DINGSHUI Chinese

LIU, GUANGWEI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

152.

104.

28.

WANG, ZHONGYIN Chinese

CHINESE CUSTOMER SERVICE

CHEN, JUNHUI Chinese

46.

ZHAO, BO Chinese

LIU, YA Chinese

70.

CHINESE CUSTOMER SERVICE REPRESENTATIVE

151.

103.

CHINESE CUSTOMER SERVICE REPRESENTATIVE

WANG, WEI Chinese

CHINESE CUSTOMER SERVICE

LIU, LIMING Chinese

45.

ZHANG, JIE Chinese

LIU, TAO Chinese

27.

44.

150.

102.

SLOMAN, PHILIP MICHAEL Australian

CHINESE CUSTOMER SERVICE REPRESENTATIVE

CHINESE CUSTOMER SERVICE

LIU, JIANDONG Chinese

WANG, SHUAISHUAI Chinese

ZHANG, QIUMEI Chinese

101.

HILCO APAC PHILIPPINES INC. Unit 7 5b/f The Pearlbank Centre 146 Valero St. Bel-air Makati City

26.

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149.

LIU, YANG Chinese

MANDARIN HEAD OPERATION PROJECT MANAGER

69.

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

43.

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100.

63.

68.

42.

148.

LIN, SHULI Chinese

62.

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CHINESE CUSTOMER SERVICE

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99.

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23.

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147.

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41.

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98.

GUANGXI HYDRO ELECTRIC CONSTRUCTION BUREAU (GHCB PHILIPPINES CORPORATION) #58 Road 1 Project 6 1 Quezon City

22.

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146.

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67.

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CHINESE CUSTOMER SERVICE

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40.

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145.

97.

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39.

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20.

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144.

61.

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96.

19.

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143.

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37.

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60.

18.

36.

142.

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141.

95.

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64.

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24.

NO.

93.

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21.

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14.

17.

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Business

A6 Thursday, January 7, 2021 | www.businessmirror.com.ph

Mechanization moves agri sector s By Jasper Emmanuel Y. Arcalas

Reporter

@jearcalas

E stood an arm’s length outside his antebellum home in Gerona, Tarlac, as he did for the past two decades. But Samson Velaco’s patience grew thicker today: a dream would become reality in a few ticks of the Casio wristwatch on his left hand.

A dream that arrived on a truck whose tires crushed the dandelions and weeds when it entered Velasco’s front gate. His face lit up as workmen unlatched the truck’s side doors and the word “Yanmar,” embossed in white over red paint, embraced his vision. The “sleigh” brought a gift that Velasco longed for for 20 years: a combine rice harvester. “Panay po ang request namin, taon-taon po, ng mga machineries sa Office of Provincial Agriculturist pero hindi po kami pinalad noon, ngayong taon lang po na ito kami sinuwerte,” Velasco, a second-generation rice farmer, told the BusinessMirror. [We persistently requested machinery from the Office of the Provincial Agriculturist, every year, but to no avail. This year, we were fortunate.] Tthe year 2019 was fortuitous for farmers like Velasco. It was last year when the Philippines decided to deregulate its rice industry and offered farmers a comprehensive farm support. In June in the middle of a pandemic—Velaso’s hope became a reality: P5 million worth of farm machinery granted to their cooperative.

Beneficiary of RCEP

VELASCO’s cooperative, the Climate Resilient Farmers of Sembrano, is one of the thousands of farmer cooperatives and associations (FCAs) that are benefitting from government’s rice competitiveness enhancement program (RCEP). Velasco, the co-op’s current president, told the BusinessMirror their organization was endorsed by the municipal agriculturists office for being one of the most active groups in their area. Velasco’s cooperative was the lone RCEP beneficiary in their municipality. “Sa wakas nagbunga rin po ang mga paghihirap namin,” he said. [Finally, our hard work paid off.] Qualified FCAs and local government units (LGUs) may be given free machinery by the government under its six-year P10-billion annual RCEP fund (RCEF). The RCEP is funded by the rice competitiveness enhancement fund that was created by the rice trade liberalization (RTL) law, which was enacted in March 2019 and deregulated the country’s rice industry.

Usual share

UNDER the law, half of the annual RCEF will be spent for free machinery while P3 billion would be used for provision of high-quality inbred rice seeds. The remaining P2 billion would be divided into extension services and easy access credit facilities. The mechanization component of the RCEF is being spearheaded and implemented by the Philippine Center for Postharvest Development and Mechanization (PhilMech), an attached agency of the Department of Agriculture (DA). The earmarking of an annual P5 billion fund for rice mechanization is a big leap from the usual

“small” share of funds for farm distribution in the government’s annual rice program, which is at least P7 billion. The insignificant allocation for farm machinery distribution in the past has been identified among the culprits for the sector’s low mechanization level and adoption of machinery by farmers.

Sector modernization

INDUSTRY players and experts have noted the machinery distribution tack is perhaps one of if not the most aggressive and comprehensive rice mechanization program the government is pursuing. And it is rightfully so, in order to modernize rice production in the country, if Agriculture Secretary William D. Dar were to be asked. Upon assuming his post in August 2019, Dar emphasized that mechanization is key in paving the way for the agriculture sector’s modernization and industrialization. Modernization and industrialization are two of the eight paradigms of Dar’s second term in office to “level up” Philippine agriculture. Dar first served as agriculture chief for a year in 1998 during the Estrada administration. Based on latest government estimates, the country’s average farm mechanization level is at 1.23 horsepower per hectare (hp/ha). This figure appears pitiful compared to Japan’s 7 hp/ha, South Korea’s 4.11 hp/ ha and China’s 4.10 hp/ha. For rice mechanization alone, the country’s average is at 2.31 hp/ha. “We will continue to boost farm mechanization to reduce production costs, enable our rice farmers produce more harvests, earn bigger incomes, and subsequently compete with their counterparts in Asean [Association of Southeast Asian Nations],” Dar said. “We have to mechanize Philippine agriculture to at least four horsepower (hp) per hectare (ha), and be on a par with our Asean counterparts,” he added.

Insignificant share

BASED on interviews with industry players and government officials, the government’s nationwide farm mechanization drive started in early 2011. However, the share of funds for farm distribution in the government’s annual rice program, which is at least P7 billion, is not that significant. The fund for free farm machinery did not increase so much as well over the years due to fragmented and small land-holding situation of rice farmers, which may defeat the purpose of the program to achieve economies of scale. PhilMech Applied Communications Division Chief Aldrin E. Badua told the BusinessMirror that the cost of a four-wheel tractor is about P1 million, which is not advisable for small-scale farming. “So they are better off with hand tractors, [the price of] which ranges from P60,000 to P120,000,” Badua, an engineer, added.

Federation of Free Farmers (FFF) National Manager Raul Q. Montemayor explained to the BusinessMirror that budget constraints and programming were also culprits of slow mechanization in the country despite existing laws promoting modernization and industrialization of farms. “The laws are all principles. It did not have the required implementation,” Montemayor, a long-time farmer-leader, told this newspaper. “The profile of interventions of the DA did not change much in the past decade. It’s one and the same with its annual Tier-1 and Tier-2 funds.”

Not copacetic

A HIGHER mechanization level would mean that more farmers have adopted the use of machines that experts pointed out could lead to more efficient farming resulting in higher yield and reduced production cost. The Philippines has a lowadoption rate for 4-wheel tractors, mechanical transplanters and combine harvesters. Government documents obtained by the BusinessMirror showed this means planting and harvesting remains manually performed. The same is observed in terms of drying at the farmers’ level since the majority of farmers still opt to dry rice on the roadside, baking over hand-woven mats under the sun. However, the adoption rate in the use of axial threshers and 2-wheel tractors and/or hand tractors is high, indicating prevalence of small machineries nationwide. Due to the low machine-adoption rate, Filipino farmers are spending P4.53 per kilogram (kg) for farm labor or about 36 percent of their total average cost of P12.41 per kg (2016 benchmark). This is more than triple the P1.30 per kg and P1.02 per kg that farmers in Thailand and Vietnam spend for farm labor, respectively. A 2016 analysis made by government experts showed that the Philippines is one of the most labor-intensive rice-producing countries at man-day per hectare basis, which refers to the amount of labor days spent.

Expenses rising

WITH the rising labor costs over the years brought about by better work opportunities for farm workers, it has become more necessary to use machines in farming practices. Latest Philippine Statistics Authority (PSA) data showed that the average cost of Filipino farmers to produce a kilogram of palay in 2019 decreased to P11.63 per kg compared to the P12.32 per kg recorded in 2018. Lowest overall costs were observed due to the reduction in the expenditure of farmers for seeds, which pundits attribute to the free seeds distributed under the RCEP last year. However, the latest figures also showed that labor costs continue to increase. In hired labor cash costs alone, farmers spent an average of P10,289 per hectare last year compared to P9,826 per hectare in 2018. The DA hopes the 6-year RCEP would reduce the country’s average rice production cost to about P8 per kilogram, with each component contributing a peso reduction. Government documents obtained by the BusinessMirror show RCEP’s farm mechanization component program could reduce production cost of farmer-beneficiaries by P2/kg to P3/kg while cutting their post-harvest losses by 3 percent to 5 percent.

The documents also showed the government eyes to increase the profit margin for rice farmer beneficiaries under RCEP by 5 percent starting 2021, with 85 percent of machinery/facility users having greater income at P2,000/ ha. to P3,000/ha. compared to non-users.

Slips, errors

LIKE new laws enacted or programs implemented, the RCEP was not spared so-called birth pains. Before the RTL law was passed, industry groups had expressed apprehensions over PhilMech’s lack of capacity and manpower to absorb a P5-billion annual fund, conduct a series of procurements and distribute thousands of machines. Some critics point to PhilMech as only an extension and research agency. The critics were proven right. The PhilMech faced setbacks and challenges in conducting biddings for the machines, delaying interventions for qualified and identified beneficiaries. Timing is crucial in distributing farm machinery since farmers follow a strict cropping calendar. If a transplanter or tractor arrives after farmers have planted their rice seeds, then they would only be able to use these machines after three months to six months. Persons familiar with the process that PhilMech has undertaken told the BusinessMirror that government officials went back and forth in finalizing rules and guidelines over RCEP’s mechanization component to prevent the mistakes of the past from happening again. One of these is the inclusion of a global positioning system unit in

machines to be procured and distributed to help the government to monitor and evaluate the status of the machinery.

Slow implementation

A 72-page DA paper reviewing the RTL law 18 months after it was enacted explained that the RCEP mechanization component was delayed “due to the complicated and cumbersome procurement process as well as the need to address failures in the past on the provision of public funds for machinery.” Badua said the program was delayed since the fund was only given to them in the latter part of the third quarter in 2020. He explained that PhilMech cannot conduct any activities related to the RCEP mechanization component until the funds are with them. Using budgets appropriated for other activities could get them flagged by government auditors. Upon receiving the funds, PhilMech still had to identify and validate the initial beneficiaries of the program to ensure they comply with the guidelines set by the government -- a minimum 50 hectares of cumulative land, at least 100 hectares of nearby serviceable areas, shed or place to keep the machines properly and willingness to be trained. The P5-billion fund for the RCEP mechanization component in 2019 was carried over to 2020 with initial distribution of machines only happening in June despite promises they would be completed as early as the first quarter.

Planned distribution

THE DA paper obtained by the

BusinessMirror showed that from January to July, the PhilMech only utilized P1.6 billion of the P5-billion 2019 funds. Separate data prov ided by the PhilMech to this newspaper showed that as of December 6, the agency has only been able to deliver only a fourth about 2,077 farm machinery of the 7,912 target units for the 2019 fund. As for the 2020 funds, the agency only delivered 308 units, which is 3.85 percent of the 7,996 units it aimed to distribute for the second year of the program. Based on documents provided by PhilMech, 1,694 FCAs and LGUs were included in the final list of beneficiaries for the 2019 fund; and 2,081 FCAs and LGUs beneficiaries for the 2020 fund. The FCAs and LGUs are from 947 municipalities in 57 rice-producing provinces.

Approved budget

PHILMECH told the BusinessMirror that P6.1 billion out of the P10 billion combined 2019 to 2020 funds have been awarded and obligated. The BusinessMirror was also told that P2 billion are ready for award and undergoing processes for notice of awards, contracts and notice to proceed to winning bidders. The agency added that about P1.9 billion of its accumulated sav i ngs f rom t he completed biddings are scheduled for new procurements. Badua explained that the deliveries for the 2019-funded and 2020-funded machines were extended due to logistical concerns and bottlenecks caused by the Covid-19 pandemic, such as lockdowns in countries like China where the

aderLook

sMirror

Editor: Dennis D. Estopace | Thursday, January 7, 2021

slow, but sure, to modern farming beneficiaries of the program. On the other hand, beneficiaries with “exemplary performance” would be able to request new machinery again from the PhilMech to complete the set or package of equipment that they need to mechanize their whole production process from planting to milling, Badua added.

Anton Medvedev | Dreamstime.com

Opting for voucher

equipment is being imported. Failed biddings were also a factor since the timeline for the distribution was moved later due to rebidding, he said. A bidding usually takes about 120 days to be completed, including the deliveries of the machines to the beneficiaries. Badua, who is also part of PhilMech’s bids and awards committee, said they divided the bidding into lots specific to provinces, regions or island regions as farmers in each area have varying machine specifications. He cited some reasons for failed bidding: lower approved budget for contract than the market price being claimed by bidders and suppliers, as well as lack of distributors in certain regions like in Visayas and Mindanao.

Program requirement

SINCE the program requires specific types of machines to cater to the needs of the FCA and LGU beneficiaries, there are times that there are only one or two suppliers of the equipment and worse they have limited logistical capacity. Due to this, suppliers are forced to enter into joint ventures e.g., Luzon suppliers partnering with Mindanao distributors, to be able to win contracts and for the program to move forward. Nonetheless, Badua assured the beneficiaries of the program that the remaining units pending under the 2019 funds would be distributed before 2020 ended while delivery of the 2020-funded machines would be completed by the first quarter of 2021. And if there would not be any more logistical concerns due to

Covid-19, the implementation of the 2021 RCEP mechanization fund would be completed within the year, Badua added. “We already have the recipients for 2021 and we have validated them,” he told the BusinessMirror. “But we cannot start bidding for the machines since we do not have the fund yet.”

Earlier programs

MONTEMAYOR said earlier farm mechanization programs of the government had a bad reputation because there was no sound monitoring and evaluation system to ensure that the machines are being used properly. He explained that some of the machines that were distributed are now idle, with some being sold by farmers due to lack of proper policy-support for farmerbeneficiaries. However, Montemayor said PhilMech’s current farm distribution system of giving first the immediate machine requirement of a FCA is good to ensure that they will really utilize the equipment. It also serves an incentive for the FCA-beneficiaries to perform well in order to be given the remaining set or necessary machines to fully mechanize their farming practice. “It’s good they are not providing the complete set of farm machinery from planting to drying in one distribution to be able to determine first the performance of the beneficiaries,” he said. Badua said they have put in place a monitoring and evaluation system to ensure that the mistakes of the past would not be repeated, and the goals of the programs

would be achieved. Badua said they conduct monthly assessment and mid-year review of the performances of all the FCA and LGU beneficiaries to determine how the machines improved their productivity, such as reduction in production cost, higher yield, and additional profit.

Reporting, reprimand

BADUA pointed out that they are strict in monitoring the management of the machines. He noted that the memorandum of agreement (MOA) between the beneficiaries and PhilMech gives the FCAs and LGUs the duty to take care of machines and see to it their members are benefitting from the equipment. For one, under the MOA, farmers belonging to FCA and LGU beneficiaries should enjoy lower service fees with everyone having access to the services of the machines. Badua said they are also monitoring if there are unscrupulous beneficiaries who would just sell the machines. He said they required the beneficiaries to submit reports every six months while PhilMech conducts on-the-spot inspection to see the status of the machines on the ground. If the program beneficiaries cannot show satisfactory performance in the use of machines and compliance with the MOA, then the PhilMech has the right to reprimand them and eventually confiscate the machines. T he conf isc ated m ac h i nes would then be redistributed to more deserving applicants/beneficiaries. The agency receives about 6,000 applications to be

MONTEMAYOR proposed that PhilMech explore implementing a voucher system instead for its farm distribution program in order to ensure that the equipment is the “farmers’ choice.” In his proposal, Montemayor explained that FCA and LGU beneficiaries will be given a voucher worth at least P1 million that they can exchange for farm equipment of their choice in government-accredited manufacturers or sellers. Through this system, it is guaranteed that FCAs and LGUs would get the farm machinery that is compatible in their area and receive their preferred after-sales service. He explained that farmers’ preference for farm machinery varies from one area to another, especially with the aftersales service that is convenient to them. He said this system could be done through a QR code to make it automated and easier to monitor the transactions. This system, he added, may also curtail “palakasan” (currying favor) in government procurements and biddings and may even improve market competition among farm machinery sellers to be able to earn more profit from beneficiaries of the program. “It’s like Shoppee or Lazada. You have a P10,000 credit for example and you have your choice on which type of farm equipment you are going to use it,” Montemayor said.

Feeding more

MECHANIZING the country’s rice farmers would also mean lower wastage at the production level, hence, increasing domestic supply of rice. At present, about 16.47 percent of total palay output are annually lost at the post-harvest level. This is composed of losses in harvesting at 2.03 percent; piling, 0.08 percent; threshing, 2.18 percent; drying, 5.86 percent; milling, 5.52 percent; and storage, 0.8 percent. Based on BusinessMirror’s computations, the country loses at least 3 million metric tons of palay annually due to post-harvest losses, which could feed about 19 million Filipinos already. The country’s post-harvest losses have been declining since the 1970s as more Filipinos gained access to farm equipment, especially in the advent of the Green Revolution where small-scale machinery was distributed to farmers. “If the RCEP program would be implemented properly and would succeed, there would be huge reduction in the post-harvest losses of farmers,” Carlito B. Balingbing of the International Rice Research Institute (IRRI) told the BusinessMirror. The government’s target of reducing post-harvest losses by 2 percent to 3 percent would mean an additional output for farmers of about 80 kilograms to 120 kilograms from the current average of 4,000 kilograms per hectare. This could easily translate to an additional income of P1,280 per hectare to P1,920 per hectare at a P16 per kilogram average palay price.

Ten years

PHILMECH Executive Director Baldwin G. Jallorina Jr. said one of

the goals of their agency at the end of the RCEP program is to be able to locally fabricate all imported rice farm machinery. Under the RTL law, procurement of the required machinery should give priority to local manufacturers to help the domestic industry over imported ones. Jallorina said there are certain farm equipment and machinery, such as 4-wheel tractors and some combined rice harvesters, that remain unavailable locally. This, hence, requires importation. However, Jallorina pointed out that only 28 percent of all the farm machineries being distributed by PhilMech are imported with the bulk of the volume being manufactured locally. PhilMech, which has a core mandate of research and development of the country’s agriculture postharvest system, has been successful in fabricating farm machinery from abroad. “In our mechanization program, one of our objectives at the end of six years is to be able to localize all imported machinery This is the research and development that we are doing,” he said in a news briefing in late October. “We are capable of localizing these farm machineries,” he added. “We are hoping to fabricate them all.” Badua said locally fabricating the imported machinery would help boost the local manufacturing sector, provide employment to Filipinos, and generate additional income for the government due to taxes paid for imported materials. However, Balingbing, IRRI Senior Associate Scientist for Mechanization and Postharvest, said fabricating locally the imported farm machinery may take more than five years since the country lacks major parts needed to manufacture them. Furthermore, these equipment, like the four-wheel tractors, have complicated parts. “In the experience of IRRI, it took a minimum of 10 years in fabricating small machinery from research to farmers’ adoption,” he said.

Hatching plans

THE DA analysis paper recommended that the government undertake a farm clustering program parallel with the ongoing implementation of the RCEP program to be able to maximize its potential and benefits. The paper added that consolidating farms would also make them more viable for the adoption and use of modern and climate-resilient technologies like precision agriculture techniques, laser-leveling, drone applications, among others. “This is reasonable considering that the share of labor costs is a third of total palay production and this share of labor expenses continues to rise,” the paper read. “To ensure the efficient use of agriculture machinery, farmers in productive rice areas will need to be organized in clusters or blocks that are optimal for employment of agriculture machinery and other modern (i.e., precision agricultural techniques) and climate-resilient techniques like laser leveling, drone applications and customized water saving,” it added. The government could also explore “contractual schemes” (e.g., labor pooling contract arrangements) in farm labor, such as the one employed in Vietnam.

Establishing facilities

THE DA analysis paper added that “integral to the clustering approach will be the use of collective labor contractual arrangements.”

It read: “Within these rice farming clusters or blocks, key collection centers, drying facilities and warehouses should be established or identified, where these exist; these should help farmers schedule the sale of their produce and prevent drastic drop in their farm gate prices.” This type of program should be “complemented with financing arrangements like warehouse receipts and forward marketing contracts. At least 10 clusters (start with those adjacent to major urban centers in Metro Manila, Metro Cebu, and Metro Davao) should be up and running before the end of the Duterte administration,” according to the paper. Balingbing also proposed that the government consider providing hermetic storages to farmers so they can properly store and maintain their seeds and rice’s quality. He noted that there currently available hermetic storage in the market that is not costly and uses green technology. He explained these products are available for small-scale and commercial uses. The use of these types of storages would also help farmers to combat climate change and save their seeds or produce during typhoons, Balingbing added.

Yielding more

THE distribution of large-scale farm machinery to FCAs would also help them transform into entrepreneurs since they can now become service providers to farmers who need access to farm machinery. Take the case of Velasco’s cooperative. Velasco and his members used to tap a private service provider for tractors and combined harvesters. They used to pay P3,500/ha. to private service providers but now they only pay P2,800/ha. to their cooperative for the service of fourwheel tractor. Furthermore, co-op members can pay the service fee after harvest or when they have money already to pay. They only need to provide diesel or shoulder the cost of the diesel to avail the services and pay the remainder of the fee afterwards, Velasco said. And since they got machinery of their own now, they now offer services to nearby barangays at the same market price of P3,500/ha.

Removing traders

VELASCO said they have earned an additional P50,000 at least from the service fees they earn from their four-wheel tractor services. They use this to cover the costs to maintain and operate the combine harvester. In turn, the fees collected from the service charges of using the combine harvester have provided their cooperative with an additional profit of P150,000. Velasco said the machinery also increased their yield by about 15 cavans per hectare, which spells additional profit of about P12,750 per hectare. Velasco hopes to get another set of farm machinery this year. This time, dryers and millers to mechanize their whole production process. If they are given the said machines, they will now be able to sell directly rice to consumers within their vicinity. This, Velasco said, would provide them higher income as it would remove the presence of traders in the value chain. He said if these “gifts” would come on another “sleigh,” the lives of farmers in this town more than a hundred miles of the capital, would be better.

Thursday, January 7, 2021

TheWorld BusinessMirror

Pandemic haunts new year as virus outpaces vaccines

ONDON—Despite growing vaccine access, January is looking grim around the globe as the coronavirus resurges and reshapes itself from Britain to Japan to California, filling hospitals and threatening livelihoods anew as governments lock down businesses and race to find solutions.

England headed back into lockdown. Mexico City’s hospitals hold more virus patients than ever. Germany reported one of its highest daily death tolls to date on Tuesday. South Africa and Brazil are struggling to find space for the dead. Even pandemic success story Thailand is fighting an unexpected wave of infections. And as doctors face or brace for rising numbers of Covid-19 patients after end-of-year holiday gatherings, more and more countries are reporting cases of a new, more contagious variant that has already swept across Britain. January is going to be “a tough one,” said Dr. Margaret Harris, a spokeswoman for the World Health Organization. “This idea that seems to be ‘Ah, we’re all sick of it. We want to look at something else. Oh, this doesn’t apply to me’... that’s got to go away. It really is all hands on deck.” While Britain rolled out a second vaccine this week and some US states are starting to give the second round of shots, access to inoculations globally is sharply unequal. The supply isn’t remotely close to meeting the epic demand needed to vanquish a foe that has already killed over 1.85 million people. “We are in a race to prevent infections, bring cases down, protect health systems and save lives while rolling out two highly effective and safe vaccines to high-risk populations,” said WHO Director-General Tedros Adhanom Ghebreyesus. “This is not easy. These are the hard miles.” England is facing a third national lockdown that will last at least six weeks, as authorities struggle to stem a surge in Covid-19 infections and relieve hospitals, where some patients are left waiting in ambulances in a parking lot for access to

overcrowded wards. Prime Minister Boris Johnson’s tough new stay-at-home order for England took effect at midnight. It will shut schools, restaurants and all nonessential stores and won’t be reviewed until at least midFebruary. Scottish leader Nicola Sturgeon imposed a lockdown that began Tuesday. The two leaders said the restrictions are needed to protect the National Health Service amid the emergence of the new variant that has sent daily infections, hospitalizations and deaths soaring. The NHS “is going through probably the toughest time in living memory,” said Siva Anandaciva, chief analyst of the King’s Fund think tank. Elsewhere in Europe, Italy and Germany extended their Christmastime lockdowns, Spain is restricting travel, and Denmark lowered the number of people who can gather in public from 10 to five. France is likely to announce tougher measures Thursday, and Ukraine is closing schools and restaurants starting Friday. In Latin America, some warn the worst is yet to come. “The boost we are experiencing here in Brazil is much more serious than what was happening months ago,” said Domingos Alves, an adjunct professor at the University of São Paulo. Brazil’s number of patients in intensive care reached its highest level since August, just as the nation reopened shops and offices after the end-of-year holidays— and the vast country still hasn’t approved or received any vaccines. Some Brazilian hospitals reinstalled refrigerated containers outside to hold the corpses of Covid-19 victims. Mexico’s capital has more virus patients than at any point in the pandemic and is flying in

A person walks with an umbrella in light rain in the City of London financial district in London, January 5, on the first morning of England entering a third national lockdown since the coronavirus outbreak began. British Prime Minister Boris Johnson on Monday night announced a tough new stay-at-home order, as authorities struggle to stem a surge in Covid-19 infections that threatens to overwhelm hospitals around the UK. AP/Matt Dunham

doctors from less hard-hit states. Its beach resorts are readying for more cases after thousands of US and European tourists visited over the holidays. “Probably in the third week of January, we are going to see the system stressed more, that there will be more ambulatory cases and cases requiring hospitalization,” said Dr. Mauricio Rodriguez of Mexico’s National Autonomous University. He blamed the rise on fatigue with social distancing, mixed messages from public figures and Mexicans lowering their guard during the holidays. Zimbabwe reintroduced a curfew, banned public gatherings and indefinitely suspended the opening of schools. In South Africa, which is seeing yet another fast-spreading variant of the virus and is the continent’s hardest-hit nation, authorities re-imposed a curfew, banned liquor sales and closed most beaches. South A frica’s undertakers are struggling to cope with the rise in deaths, National Funeral Practitioners Association of SA President Muzi Hlengwa told state broadcaster SABC. “It is something that you have never seen before.... We have run out of coffins, we have run out of space at the mortuary,” he said. “We normally have cremations during the day, but now we have cremations even at night.” The pandemic is even reaching countries that seemed to have the virus under control. Thailand is facing a surge that has infected thousands in the past few weeks, blamed on complacency and poor planning. The government is locking down large

parts of the country, including the capital, Bangkok, and considering tougher measures. Japan is getting ready to declare a state of emergency this week, beefing up border controls and speeding up vaccine approval after a surge of cases around New Year’s Eve. And holiday worries aren’t over now that 2021 has arrived. Pope Francis abandoned an annual ritual of baptizing babies in the Sistine Chapel tied to Wednesday’s Epiphany holiday. Orthodox Christian countries like Russia and Greece could face more infections after they celebrate Christmas on Thursday. And China is closing schools early a head of ne x t mont h ’s Lunar New Year holiday, telling migrant workers not to go home and tourists to avoid Beijing. Vaccinations are getting off to a slow start in many places. In the US, where over 350,000 people have died, some states are struggling to secure enough shots and organize vaccinations. The Netherlands has come under heavy criticism for being the last European Union nation to start inoculations, which it will do Wednesday. Australia isn’t planning to do so until March. And most poorer countries are even further behind. Opposition politician Geert Wilders called the Dutch government “the village idiot of Europe.” Yet India offers a glimmer of hope. Its infection rate is down significantly from a September peak, and the country is kicking off one of the largest inoculation programs in the world, aiming at vaccinating 300 million people by August. AP

U.K. hospitals stagger as new virus variant takes huge toll

ONDON—Britain is facing a long, bleak winter as cold, wet weather and a more contagious variant of the coronavirus put unprecedented strain on the nation’s hospitals and force record numbers of patients to wait 12 hours or more, sometimes on ambulance gurneys, before receiving treatment. That picture made Prime Minister Boris Johnson order a third national lockdown that started Tuesday and requires everyone in England to stay at home for at least the next six weeks except for exercise, medical appointments, essential shopping and a few other limited exceptions. “It’s not hyperbole to say that the [National Health Service] is going through probably the toughest time in living memory,” said Siva Anandaciva, chief analyst of the King’s Fund, a UK think tank that focuses on health and social care. “I was speaking to an emergency care physician from London last week, and she was saying that half of her shift was spent delivering care in ambulances because they couldn’t get the patients into the emergency department.” England’s previous nationwide lockdown ran from November 5 to December 5. In announcing the new stay-at-home order, Johnson said it won’t be reviewed for lifting until at least mid-February. By that time, the government hopes to have given one dose of a Covid-19 vaccine to about 13 million people who are most at risk, potentially allowing some relaxation of the restrictions. Under the latest lockdown, schools and outdoor sports facilities are closed along with bars, restaurants, hair salons, gyms, theaters and most shops.

“The weeks ahead will be the hardest yet, but I really do believe that we are entering the last phase of the struggle,” Johnson told the nation Monday night. “Because with every jab that goes into our arms, we are tilting the odds against Covid and in favor of the British people.” Scotland’s leader, Nicola Sturgeon, also imposed a lockdown that began Tuesday. Northern Ireland and Wales had already imposed tough measures, though rules vary. Each nation in the United Kingdom controls its own health policy under the country’s system of devolved government. Johnson and Sturgeon said the restrictions were needed to protect the hard-pressed National Health Service as a new, more contagious variant of coronavirus sweeps across Britain. On Monday, hospitals in England were treating 26,626 Covid-19 patients, 40 percent more than during the first peak in mid-April. Many UK hospitals have already been forced to cancel elective surgeries and the strain of responding to the pandemic may soon delay cancer surgery and limit intensive care services for patients without Covid-19. In December, a record 2,930 people were forced to wait 12 hours or more before hospitals could find beds for them, the Health Service Journal reported Monday, citing leaked figures from the National Health Service. The previous high of 2,847 waits of at least 12 hours for a hospital bed was reported in January 2020. Public health officials hope the new lockdown will reduce the strains on the NHS while they

roll out a national vaccination program that targets older people, health care workers and those particularly vulnerable to Covid-19. Britain has approved two vaccine shots so far—one from Pfizer-BioNTech and the other from Oxford University and AstraZeneca. As of Monday, the NHS had vaccinated 1.3 million people across the UK The government plans to have almost 1,000 vaccination centers operating across the country by the end of this week, Johnson said. While rollout of the vaccination program is complicated, Anandaciva of the King’s Fund said the structure of the NHS will help it deliver the shots. In addition to a nationwide network of hospitals, doctors and nurses, it can rely on other allied health care professionals, such as pharmacists, to deliver the vaccine. “That’s one area where you can really maximize the benefits of having a nationalized service because you can...establish hubs, you can pool staff, and you’ve got a very strong brand to attract people,” he said. “I think the NHS is doing quite a good job of setting up the logistics of how you will get the vaccine into the right places.” In the meantime, grants are being given to help businesses further strained by the new rules. Grants of up to 9,000 pounds ($12,200) will be offered to businesses in the retail, hospitality and leisure sectors. “The new strain of the virus presents us all with a huge challenge—and, whilst the vaccine is being rolled out, we have needed to tighten restrictions further,’’ Treasury chief Rishi Sunak

said. “Throughout the pandemic we’ve taken swift action to protect lives and livelihoods and today we’re announcing a further cash injection to support businesses and jobs until the spring.’’ Johnson announced the lockdown after the chief medical officers of England, Northern Ireland, Scotland and Wales raised the UK-wide Covid-19 threat assessment to the highest level. The health system is already under “immense pressure,” they said. The new measures are similar to those imposed last spring, with people being told to work from home unless it’s impossible to do so, and to leave home only for exercise or essential trips such as grocery shopping. Schools across England were ordered to close their doors except for the children of critical workers and most vulnerable children, and shift to online instruction beginning Tuesday. University students won’t return to campus until at least mid-February. All nonessential shops and personal care ser vices like hairdressers will stay closed. Restaurants will be allowed to offer takeout services only. New Covid-19 infections have soared in recent weeks as public health officials struggled to contain the new variant, which the government says is 50 percent to 70 percent more contagious. The number of confirmed new daily infections in the past seven days jumped 50 percent from the previous week, and coronavirus-related deaths rose 21 percent in the same period. Britain repor ted 830 coronavirus-related deaths on Tuesday. The death toll from the pandemic is now 76,423, one of the world’s highest tallies. AP

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Thailand scrambles to contain outbreak and secure vaccines

ANGKOK—For much of 2020, Thailand had the coronavirus under control. After a strict nationwide lockdown in April and May, the number of new local infections dropped to zero, where they remained for the next six months. Thailand closed its borders, enforcing mandatory quarantines for its own citizens and the handful of foreigners allowed to visit. But aside from a few outward signs of the “new normal,” like the ubiquitous wearing of masks and reminders to practice social distancing, life resumed as though the pandemic had largely run its course. A new outbreak discovered in mid-December threatens to put the country back where it was in the toughest days of early 2020, when it tallied 3,045 cases and 59 deaths. Thailand’s Covid-19 coordinating center has warned that the number of new daily cases could rise to more than 10,000 by later this month under a worst-case scenario if the government does not do more to curtail the virus’s spread. The outbreak identified in mid-December was centered in a seafood market in Samut Sakhon, southwest of the capital Bangkok, that employs thousands of Myanmar migrant workers. It has now spread to 56 of Thailand’s 77 provinces. On Tuesday, the country reported 527 new cases, most of them migrant workers linked to the market in Samut Sakhon. A day earlier, Thailand counted 745 new cases, an all-time high since the pandemic was first found in the country last January. Thailand now has 8,966 total confirmed cases with 65 deaths. Complicating its path to recovery, Thailand is playing catch-up in its bid to secure vaccines. Despite being a production hub for the OxfordAstraZeneca vaccine, the government has yet to secure enough doses to cover its population of nearly 70 million people. Thailand signed a joint-venture agreement with AstraZeneca in October to produce up to 200 million doses of the vaccine in the country but only has been able to secure 26 million doses for itself. Thailand expects those vaccines, which will be produced locally by Siam Bioscience, to be delivered in June. Prime Minister Prayuth Chan-ocha said Monday that Thailand is trying to obtain 63 million doses, enough to cover slightly less than half of its population. The cabinet onTuesday approved a $39 million budget for the vaccines, which will be offered at no charge to Thai citizens. Meanwhile, China’s Sinovac Biotech is expected to provide Thailand with 2 million vaccine doses, with an initial batch of 200,000 set to arrive in February, and later shipments expected in March and April. “I hope they arrive soon. There are so many cases right now it’s terrifying,” said Watee Kongsilp, a street fruit seller in Bangkok. Cin Amornchainon, an office worker, added: “If you ask me whether our vaccine orders are slower than other countries, yes they are. But I understand the limitations our country has in terms of budget.” Neighboring countries in Southeast Asia, including Malaysia, Myanmar, the Philippines, Vietnam and Cambodia, also are scrambling to procure vaccines. Indonesia has been negotiating for months to secure millions of doses for its nearly 270

million people. It has deals with Sinovac, Novavax, AstraZeneca and COVAX and is in talks with Pfizer. Vietnam is still negotiating with pharmaceutical companies and trying to develop its own vaccines. Malaysia has signed deals to cover up to 40 percent of its population. For now, Thailand is bracing for case numbers to continue to rise. The Thai Navy has built four emergency field hospitals around the country, with up to 4,000 beds in Samut Sakhon and at least 500 beds in Rayong, on the eastern seaboard. Hospitals and expansions are also planned for Chantaburi and Chonburi, two coastal provinces southeast of Bangkok. Prayuth, seeking to balance public health concerns with economic realities, has implemented a new round of restrictions, but he has stopped short of putting the country under a full lockdown, similar to what it experienced in the spring. The economic concerns are daunting: Thailand’s closure to most international travel helped limit domestic coronavirus outbreaks but gutted the tourism industry, which accounts for about a tenth of the economy and provides many jobs. The Bank of Thailand estimates the economy contracted 6.6 percent in 2020. “We don’t want to lock down the entire country because we know what the problems are. So can you all lock down yourselves?” Prayuth said at a press briefing on Monday. “This is up to everyone. If you don’t want to get infected, just stay home for 14 to 15 days. If you think like this, then things will be safe and easier for screening,” Prayuth added. On January 3, the prime minister signed an order designating 28 provinces, including the capital, as “highly controlled zones,” where public gatherings are prohibited and many businesses and other venues must close until at least the end of January. These include schools, gyms, childcare centers, Internet cafes, massage parlors and more. Restaurants may not serve alcohol and can operate with strict social distancing requirements from 6 a.m. to 9 p.m. but only serve takeaway from 9 p.m. to 6 a.m. Tables must be at least 1.5 meters (5 feet) apart. “We’ve learned the lessons from the previous lockdown,” said Taweesilp Visanuyothin, a spokesperson for the Covid-19 coordinating center. “We have to consider imposing the measures as well as the impact on the economy.” The cabinet is expected to extend a national state of emergency, due to end on January15, until Febraury 28. As has been true elsewhere, small lapses can be costly. Thailand recorded no new local infections from May 26 until November 7, when two women who crossed the border illegally from Myanmar tested positive for the virus, setting authorities off on a frantic contact-tracing effort. Thailand and Myanmar, which has been hit harder by the virus, share a 2,400-kilometer (1,500-mile) porous border. Cambodia, which borders Thailand to the east and has been relatively lightly affected, stepped up security at land border checkpoints after at least 17 Cambodian laborers returning from Thailand recently tested positive for the coronavirus. AP

WHO ‘disappointed’ at Chinese delays letting in team of experts

ENEVA—The head of the World Health Organization said Tuesday that he is “disappointed” Chinese officials haven’t finalized the permissions to allow a team of experts into China to examine the origins of Covid-19. WHO Director-General Tedros Adhanom Ghebreyesus, in a rare critique of Beijing, said members of the international scientific team began departing from their home countries over the last 24 hours as part of an arrangement between WHO and the Chinese government. “ Today, we lear ned that Chinese of f ic i a ls have not yet f ina l i zed t he necessa r y per m issions for t he tea m’s a r r iva l in C h ina,” Ted ros sa id du r ing a news conference in Geneva. “I’m very disappointed with this news, given that two members had already begun their journeys and others were not able to travel at the last minute, but had been in contact with senior Chinese officials,” he said. Tedros said he “made it clear” that the mission was a priority for the UN health agency, and that he was “assured that China is speeding up the internal procedures for the earliest possible deployment.” “We are eager to get the mission underway as soon as possible,” he said. The experts drawn from around

the world are expected to visit the city of Wuhan, which is suspected as the place that the coronavirus first emerged over a year ago. Dr. Michael Ryan, the WHO’s emergencies chief, said the deployment had been expected to start Tuesday but that the needed approvals had not yet been granted, including for visa clearances. The Chinese government has been strictly controlling all research at home into the origins of the virus, an AP investigation found, and state-owned media have played up reports that suggest the virus could have originated elsewhere. Chinese Foreign Minister Wang Yi said recently that “more and more research suggests that the pandemic was likely to have been caused by separate outbreaks in multiple places in the world.” The UN health agency came in for searing criticism from President Donald Trump and other US officials over its alleged deference to and excessive praise of China’s handling of the initial outbreak. Ryan said Tedros had “taken immediate action” and spoken with unspecified senior Chinese officials, and “has fully impressed upon them the absolute critical nature of this.” “We hope that this is just a logistical and bureaucratic issue that can be resolved very quickly,” Ryan added. AP

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WB sees subdued recovery in 2021 and plenty of risk

ASHINGTON—The global economy will experience a subdued recovery this year from the devastating pandemic, the World Bank predicted on Tuesday, but it warned that the near-term outlook is highly uncertain and growth could be imperiled if coronavirus infections and delays in the rollout of vaccines continue. In its new Global Economic Outlook, the World Bank forecast 4 percent growth this year following a 4.3 percent decline in 2020, the biggest plunge in global output since a contraction of 9.8 percent in 1945 as nations demobilized at the end of World War II. By comparison, the global recession triggered by the Great Depression of the 1930s saw growth shrink by 4.8 percent on average from 1930 through 1932. The 2008 financial crisis triggered a 1.8 percent drop in global output in 2009. “If history is any guide, the global economy is heading for a decade of growth disappointments unless policy makers put in place comprehensive reforms,” the bank warned, citing the global pandemic layered over economic trends already in play. “While the global economy appears to have entered a subdued recovery, policymakers face formidable challenges in public health, debt management, budget policies, central banking and structural reforms,” said World Bank President David Malpass. The bank said global growth will be aided by a recovery this year to GDP growth of 3.5 percent in the United States and an even bigger 7.9 percent rebound in China, the world’s two biggest economies. For 2020, the World Bank expects GDP in the United States to fall by 4.3 percent while it predicted a modest 2 percent increase in China. Because of the uncertainty caused by the current resurgence in virus cases and initial problems in distributing vaccines, the World Bank cautioned that

its forecast is highly uncertain. Under a scenario where virus cases continue to rise and the rollout of the vaccine does not accelerate, global growth could be reduced to a meager 1.6 percent this year. The new report boosted global growth for 2020 by 0.9 percentage-points from its June forecast, reflecting in part a better-than-expected performance in China and the United States. But the forecast trimmed the outlook for 2021 by 0.2 percentage points. For the United States, the decline for 2020 was revised up by 2.5 percentage points to a smaller decline of 3.6 percent, and the 3.5 percent rebound for 2021 was lowered by half a percentage point. To combat the sharp downturn, the World Bank has made $160 billion available to help more than 100 countries protect the poor, support businesses and bolster the recovery. Malpass, in a briefing for reporters, said the World Bank was making available $12 billion to provide 1 billion Covid-19 vaccinations in poor countries. “People at the bottom of the income scale were hardest hit by the shutdowns and recession and will most likely be the slowest to regain jobs and get vaccinations,” Malpass said. The World Bank expects the euro area will suffer a 7.4 percent drop in growth for 2020 followed by a 3.6 percent rise in 2021, while it says Japan’s growth will fall 5.3 percent in 2020 and then rebound by 2.5 percent this year. For all advanced economies, the World Bank predicted a drop of 5.4 percent in 2020 and a rise of 3.3 percent in 2021. For emerging markets and developing countries, the World Bank said when all figures are reported, growth will have dropped 2.6 percent in 2020 followed and that will be followed by an increase of 5 percent this year. AP

Congress to confirm Biden’s electoral victory over Trump

ASHINGTON—President Donald Trump’s extraordinary effort to overturn the presidential election is going before Congress as lawmakers convene for a joint session to confirm the Electoral College vote won by Joe Biden. The typically routine proceeding on Wednesday will be anything but, a political confrontation unseen since the aftermath of the Civil War as Trump mounts a desperate effort to stay in office. The president’s Republican allies in the House and Senate plan to object to the election results, heeding supporters’ plea to “fight for Trump” as he stages a rally outside the White House. It’s tearing the party apart. The longshot effort is all but certain to fail, defeated by bipartisan majorities in Congress prepared to accept the results. Biden, who won the Electoral College 306-232, is set to be inaugurated on Jan. 20. “The most important part is that, in the end, democracy will prevail here,” Democratic Sen. Amy Klobuchar of Minnesota, among those managing the proceedings, said in an interview. The joint session of Congress, required by law, will convene at 1 p.m. EST under a watchful, restless nation—months after the the Nov. 3 election, two weeks before the inauguration’s traditional peaceful transfer of power and against the backdrop of a surging Covid-19 pandemic. Senate Majority Leader Mitch McConnell, who warned his party off this challenge, is expected to deliver early remarks. House Speaker Nancy Pelosi, set to gavel proceedings on her side of the Capitol, called it a day of “enormous historic significance.” It is about “guaranteeing trust in our democratic system,” she said in a letter to colleagues. But it is Vice President Mike Pence who will be closely watched as he presides over the session. Despite Trump’s repeated claims of voter fraud, election officials and his own former attorney general have said there were no problems on a scale that would change the outcome. All the states have certified their results as fair and accurate, by Republican and Democratic officials alike. Pence has a largely ceremonial role, opening the

sealed envelopes from the states after they are carried in mahogany boxes used for the occasion, and reading the results aloud. But he is under growing pressure from Trump to tip it to the president’s favor, despite having no power to affect the outcome. While other vice presidents, including Al Gore and Richard Nixon, also presided over their own defeats, Pence supports those Republican lawmakers mounting challenges to the 2020 outcome. “I hope that our great vice president comes through for us,” Trump said at a rally in Georgia this week. “He’s a great guy. Of course, if he doesn’t come through, I won’t like him quite as much.” It’s not the first time lawmakers have challenged results. Democrats did in 2017 and 2005. But the intensity of Trump’s challenge is like nothing in modern times, and an outpouring of current and elected GOP officials warn the showdown is sowing distrust in government and eroding Americans’ faith in democracy. “There is no constitutionally viable means for the Congress to overturn an election,” said Sen. Tim Scott, R-S.C., announcing his refusal to join the effort on the eve of the session. Still, more than a dozen Republican senators led by Josh Hawley of Missouri and Ted Cruz of Texas, along with as many as 100 House Republicans, are pressing ahead to raise objections to the state results of Biden’s win. Under the rules of the joint session, any objection to a state’s electoral tally needs to be submitted in writing by at least one member of the House and one of the Senate to be considered. Each objection will force two hours of deliberations in the House and Senate, ensuring a long day. House Republican lawmakers are signing on to objections to the electoral votes in six states— Arizona, Georgia, Nevada, Michigan, Pennsylvania and Wisconsin. Arizona will likely be the first to be disputed as the state tallies are announced in alphabetical order, and Cruz has said he will join House Republicans in objecting to that state. AP

World leaders urge US-China reset at Bloomberg New Economy Forum

he first day of the four-day Bloomberg New Economy Forum concluded with business and political leaders taking on issues from the economic fallout of the coronavirus pandemic to the future of global trade and climate change. In this October 17, 2019 file photo, World Bank President David Malpass speaks during a news conference at the World Bank/IMF Annual Meetings in Washington. The World Bank on January 5, 2021, forecast that the global economy will see a subdued recovery this year from a devastating pandemic but warned that the near-term outlook is highly uncertain and growth could be harmed if infections keep rising and the rollout of vaccines is delayed. AP/Jose Luis Magana

Thursday, January 7, 2021

US-China tensions were a major focus, with former and present heads of state calling on Xi Jinping and the incoming Biden administration to get the relationship back on track. Singapore Prime Minister Lee Hsien Loong urged a truce, while former President Bill Clinton said a more coordinated approach to dealing with Beijing would be needed as Xi’s long-term reign upended relations. Henry Kissinger said the new administration should move quickly to restore lines of communication or risk drifting into a crisis that could escalate into war. On the economy, health and environment, former US Treasury Secretary Lawrence Summers called for a stronger coordinated global response to the crisis caused by Covid-19. Former Federal Reserve Chair Janet Yellen said fiscal policy was “essential” to back up the stimulative policies of the central bank and help the US economy recover. United Nations SecretaryGeneral Antonio Guterres said he sees Biden rejoining the Paris climate agreement and eventually committing to a net-zero pledge by 2050. The New Economy Forum is organized by Bloomberg Media Group, a d iv ision of Bloomberg LP, the parent company of Bloomberg News.

Adnoc CEO optimistic on global growth led by US and Asia

There’s very good reason to be optimistic about global growth, Sultan Ahmed Al Jaber, the United Arab Emirates’s minister for industry and advanced technology and CEO of Abu Dhabi National Oil Co., said at the Bloomberg New Economy Forum. The US rebound is very robust despite Covid-19, while Asia is recovering very well and European growth is slowing due to new pandemic restrictions, he said.—Sharon Cho.

China regulator sees little fallout from Ant IPO suspension

International investors have responded to the suspension of Ant Group’s initial public offering “quite well,” Fang Xinghai, vice chairman of the China Securities Regulatory Commission, said at the New Economy Forum. In the past week, inflows from

international investors and investors in Hong Kong have also done quite well, he said. Fang also said the US is pushing too fast for change from China and should instead take a more patient approach, adding that he’s hoping for better relations under Biden. “I sense US negotiators demand to get something from China quickly and hope China will change quickly,” Fang said. “The US needs more patience.”—Jonas Bergman, Evelyn Yu, Enda Curran, Michelle Jamrisko

US, China could heal rift by cooperating on climate change

President-elect Joe Biden and China’s Xi Jinping can begin to mend their nations’ fractious relationship by avoiding any provocation on Taiwan or the region’s disputed waters, Australia’s former prime minister Kevin Rudd said. The two could also cooperate on fighting the effects of climate change, Rudd, now the president of the Asia Society Policy Institute, said in an inter v iew Tuesd ay at t he New Economy Forum.—Ruth Pollard

Bill Clinton says China’s direction under Xi upended US ties

Former President Bill Clinton said Xi Jinping’s long-term reign has upended US-China relations, and will require Joe Biden’s incoming administration and its allies to take a more coordinated approach to dealing with Beijing. “ T he old C h i nese s y stem, which was by no means a democracy, still guaranteed enough debate, and play, and openness because there was a regular rotation of leadership,” Clinton said. “Now that it appears that a person is in charge of China who intends to stay there for life, in essence, that changes things. But we shouldn’t accept or assume that it’s all going to be bad without working to make it better.” Speaking in conversation with former UK Prime Minister Tony Blair at the Bloomberg New Economy Forum, Clinton said the US could strengthen its negotiating position with China by enlisting partners, from Europe to Asian nations which were part of the Trans Pacific Partnership trade

pact abandoned by President Donald Trump. —Iain Marlow

Singapore PM calls for US-China truce after ‘tumultuous’ years

US President-elect Joe Biden should look to develop an “overall constructive relationship” with China following “quite a tumultuous ride” over the past four years, Singapore Prime Minister Lee Hsien Loong said in an interview. A new framework between the nations would allow both countries “to develop the areas of common interest, and constrain the areas of disagreement” on issues such as trade, security, climate change, North Korea and non-proliferation, Lee said in an interview with Bloomberg EditorIn-Chief John Micklethwait at the New Economy Forum. Singapore’s leader also rejected any attempt to divide nations “Cold War style.” Lee also said Singapore is concerned about the situation in Hong Kong and hopes the financial hub could “settle down to a new normal.” He sees the government running a budget deficit at least through early next year, and perhaps “a while” longer, as the coronavirus-hit economy bends the city-state’s traditional fiscal prudence.—Philip J. Heijmans and Michelle Jamrisko

China’s Zeng calls for more policy coordination

Zeng Peiyan, former vice premier of China’s State Council, called for more global cooperation on epidemic control and treatment and coordinating economic policies. Speaking at Bloomberg’s New Economy Forum, Zeng said the top priority was to establish and improve global dialog and competition mechanisms. He made a plea for a stronger commitment toward multilateralism and efforts to improve global governance. Without naming any specific countries, Zeng denounced “some forces” acting against that trend by trumpeting decoupling and willfully walking away from international commitments. He said those behaviors have undermined market rules a nd h a mp ere d sou nd g loba l growth.—Zhu Lin

Paulson calls for new round of US, China talks

The incoming Biden administration should start a new round of bilateral negotiations with China aimed at fair trade and competition, former US Treasury Secretary Hank Paulson said at Bloomberg’s New Economy Forum Monday. “We’ll need to deal with structural and process issues that include services, not just goods,” he said. “The agreement should be done in phases with regular deliverables, beginning with easier

issues that build momentum to tackle the tough ones.” Paulson also called for a shift away from what he called “reflexive reciprocity” to “targeted reciprocity” to ensure that the strategic competition between the world’s two largest economies won’t result in the US closing itself off to the world. Two years ago, Paulson warned that the US-China relationship was on a trajectory to establishing an economic iron curtain. On Monday, he said that unfortunately, many of his predictions have panned out.

China vice president urges shift from protectionism

Chinese Vice President Wang Qishan called for global solidarity and a shift away from protectionism as Beijing grapples with the prospect of a new administration in Washington. “Countries must rise above exclusive blocs and reject the zerosum mentality,” Wang said via video link. “We should build an open world economy that works for all. We must firmly safeguard the multilateral trading system under the WTO and unequivocally reject unilateralism and protectionism.” Wang didn’t address US-China ties directly, instead calling more generally for countries to “build platforms for dialogue and keep communications open.” He also urged nations to develop “a collaborative mechanism for epidemic control” to help battle Covid-19. —Peter Martin

Kissinger warns US-China divide risks catastrophe

The incoming Biden administration should move quickly to restore lines of communication with China that frayed during the Trump years or risk a crisis that could escalate into military conflict, former US Secretary of State Henry Kissinger said at the forum. “Unless there is some basis for some cooperative action, the world will slide into a catastrophe comparable to World War I,” Kissinger warned. “America and China are now drifting increasingly toward confrontation, and they’re conducting their diplomacy in a confrontational way,” the 97-year-old Kissinger said in an interview with Bloomberg News Editor-in-Chief John Micklethwait. “The danger is that some crisis will occur that will go beyond rhetoric into actual military conflict.” The diplomat who paved the way for President Richard Nixon’s historic 1972 trip to China said he hoped that the shared threat of the Covid-19 pandemic would provide an opening for political discussions bet ween the t wo countries when President-elect Joe Biden takes office on January 20.— Peter Martin. Bloomberg News

Reports: Dozens of Hong Kong pro-democracy figures arrested

ONG KONG—Hong Kong police arrested about 50 pro-democracy figures on Wednesday for allegedly violating the new national security law by participating in an unofficial primary election last year held to increase their chances of controlling the legislature, according to political parties and local media. Those arrested on suspicion of subversion included former lawmakers and pro-democracy activists, the South China Morning Post and online platform Now News reported. The mass arrests were the largest move against Hong Kong’s democracy movement since the national security law was imposed by Beijing in the semiautonomous territory in June last year. Police did not immediately comment on the arrests. At least seven members of Hong Kong’s Democratic Party — the city’s largest opposition party — were arrested, including former party chairman Wu Chi-wai. Former lawmakers Helena Wong, Lam Cheuk-ting, and James To were also arrested, according to a post on the party’s Facebook page.

Benny Tai, a key figure in Hong Kong’s 2014 Occupy Central protests and a former law professor, was also arrested by the police, according to local media reports. Tai was one of the main organizers of the primaries. The home of Joshua Wong, a prominent prodemocracy activist who is serving a 13 1/2-month prison sentence for organizing and participating in an unauthorized protest last year, was also raided, according to a tweet posted from Wong’s account. According to tallies based on local media reports of the arrests, all the pro-democracy candidates who had participated in the unofficial primaries were arrested. Police also went to the headquarters of Stand News, a prominent pro-democracy online news site in Hong Kong, with a court order to hand over documents to assist in an investigation related to the national security law, according to a livestreamed video by Stand News. No arrests were made. In recent months, Hong Kong has already jailed several pro-democracy activists including Wong and Agnes Chow for their involvement in antigovernment

protests, and others have been charged under the national security law including media tycoon and outspoken pro-democracy activist Jimmy Lai. The security law criminalizes acts of subversion, secession, terrorism and collusion with foreign powers to intervene in the city’s affairs. Serious offenders could face up a maximum punishment of life imprisonment. Pro-democracy activists and lawmakers had last July held an unofficial primary election to figure out which candidates they should field in a nowpostponed legislative election that would boost their chances of gaining a majority of seats in legislature. Gaining a majority would allow the pro-democracy camp to vote against bills they deemed to be proBeijing, block budgets and paralyze the government. More than 600,000 Hong Kongers voted in the primaries, although pro-Beijing lawmakers and politicians criticized the event and warned that it could breach the security law, which was imposed on the city by Beijing to quash dissent following months of antigovernment protests.

Hong Kong chief executive Carrie Lam said in July last year that if the primary election was aimed at resisting every policy initiative by the Hong Kong government, that it may fall under subverting state power, an offense under the national security law. Beijing also blasted the primaries as illegal, calling it a “serious provocation” of Hong Kong’s electoral system. Following the handover of Hong Kong to China by the British in 1997, the semi-autonomous Chinese city has operated on a “one country, two systems” framework that affords it freedoms not found on the mainland. In recent years, Beijing has asserted more control over the city, drawing criticism that Hong Kong’s freedoms were under attack. The legislative elections, originally slated to be held in September, were later postponed for a year after Lam said that holding elections would be a risk to public health given the coronavirus pandemic. The pro-democracy camp denounced the postponement as unconstitutional. AP

A10 Thursday, January 7, 2021 • Editor: Angel R. Calso

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Covid variant must be kept out of PHL

ecent reports said multiple coronavirus variants are circulating globally. In the United Kingdom, a new variant has emerged with an unusually large number of mutations. Experts said this variant seems to spread more easily and quickly than other variants. In South Africa, another variant has emerged independently of the variant detected in Britain. This variant, originally detected in early October, shares some mutations with the one detected in the UK. There have been cases caused by this variant outside of South Africa. Like the one detected in Britain, this variant seems to spread more easily and quickly than other variants. Currently, there is no evidence that it causes more severe illness or increased risk of death, according to the Centers for Disease Control and Prevention. Another variant recently emerged in Nigeria. CDC is also monitoring this strain but, at this time, it said there is no evidence to indicate this variant is causing more severe illness or increased spread of Covid-19 in Nigeria. Scientists said the new Covid variants will not decrease vaccine efficacy much, if at all. Health officials are also emphasizing the lack of evidence for more severe disease. So, there’s no cause for alarm, right? Wrong, according to The Atlantic. In a recent article—The Mutated Virus Is a Ticking Time Bomb—Zeynep Tufekci said: “A more transmissible variant of Covid-19 is a potential catastrophe in and of itself. If anything, given the stage in the pandemic we are at, a more transmissible variant is in some ways much more dangerous than a more severe variant. That’s because higher transmissibility subjects us to a more contagious virus spreading with exponential growth.” The author said we should deploy whatever weapons we have in our arsenal, as soon as possible, to prevent the spread of a more contagious virus. “If public-health officials can accelerate our ability to detect the new variant, they must. We are in a race against time, and the virus appears to be gaining an unfortunate ability to sprint just as we get closer to the finish line. Although the initial rollout of the vaccines has been slow, it is expected to increase rapidly.” Here’s the rub: Access to inoculations globally is sharply unequal. Over the past several months, wealthier countries have bought or reserved most of the Covid-19 vaccine doses to immunize their citizens multiple times over, leaving little vaccine for low- and middle-income countries. That’s left some governments and global health organizations scrambling to help poorer countries acquire Covid shots. In response, the World Bank said it will earmark $12 billion to provide 1 billion Covid-19 vaccinations in poor countries. “People at the bottom of the income scale were hardest hit by the shutdowns and recession and will most likely be the slowest to regain jobs and get vaccinations,” the World Bank said. Like other countries, the Philippines is in a race against time. While our top priority is to control the spread or transmission of the virus, government officials must expedite vaccine procurement and prepare solid plans to ensure seamless rollout of the Covid vaccine in the country when the shots arrive. Meanwhile, we need to maintain a heightened response to prevent the entry of the new coronavirus variant in the country. Since 2005

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My plan for success John Mangun

OUTSIDE THE BOX

or many decades I have built my wealth and protected my business and family by proposing different scenarios rather than trying to predict the future. Specific strategies and tactics must then be designed for each individual scenario. It is a practical application of different disciplines including understanding reoccurring cycles, Sun Tzu’s Art of War, and even “Game-Theory Optimal” used in playing poker.

With the cycles, you can have your strategy ready to go with the cycle and also in the event that the cycle breaks. Since you cannot genuinely know what the “enemy” is going to do in the future, you must have different scenario strategies because, as Sun Tzu says, “He will win who knows how to handle both superior and inferior forces.” Further, “In the midst of chaos, there is opportunity” if you have planned the right strategy. “Game-Theory Optimal” is where you essentially attempt to play perfect poker yourself which in turn only allows for your opponents to make mistakes against you, which is where you make your profits.

All the time every one of us creates potential scenarios, considers the probable likelihood of each happening, and designs potential strategies. Otherwise, you would (or would never) carry an umbrella 24/7. Some strategies, based on the probability of the scenario coming true, mean only making sure there is an umbrella in the car. However, the moment we move into “predicting,” our actions are influenced and clouded by the expectation that our prediction will be accurate. You are 100 percent sure it is not going to rain and then must stop by the department store to buy an umbrella before the day is

You have the choice to “go with the flow” like a tree in a typhoon as “Life is a series of changes. Let things flow naturally forward in whatever way they like” (LaoTzu). Also, there will always be things that we cannot control; these things can be a huge source of anger, frustration, and stress. over. You might add that new umbrella to your collection of 10 other “rain shields.” The Stanford marshmallow experiment was a study on delayed gratification in 1972, led by psychologist Walter Mischel. A young child was presented with one marshmallow and told that he or she could eat the treat now or wait a few minutes and then get two. But later changes in the methodology of the test showed that those children who believed the “tester” was honest (primarily because of their home personal experience) and would give them the treat later versus those that did not trust the truthfulness of getting the extra marshmallow, determined who waited and who did not. In other words, their personal “prediction” influenced their behavior. Children who had been “cheated”

once, and who expected to get fooled again, immediately ate the marshmallow the second time without waiting. In customer service, employees are told to “set expectations” with what they can do and cannot do. Then they “under-promise” and “over-deliver.” This is the best and easiest way to manipulate people by, in effect, making predictions and then making them come true. If the first time the kid gets three marshmallows for waiting, the next time he will wait forever for the tester to return. You have the choice to “go with the flow” like a tree in a typhoon as “Life is a series of changes. Let things flow naturally forward in whatever way they like” (Lao-Tzu). Also, there will always be things that we cannot control; these things can be a huge source of anger, frustration, and stress. The first choice sounds to me to be only reactionary and not prepared and proactive. The second sounds like it was written by a guy who makes a lot of predictions. I am neither of the two. I own a gas, electric, and charcoal stove. E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.

Qatar’s back, but the Gulf Arab dispute is unresolved By Hussein Ibish | Bloomberg Opinion

he Qatar embargo, which has divided Gulf Arabs during almost the entirety of the Trump administration, is finally approaching resolution. Just about everyone’s a winner in the short term, but since none of the underlying disputes have been resolved, the long-term prognosis remains questionable. On Monday, the eve of the 41st summit meeting of the six-member Gulf Cooperation Council, Saudi Arabia announced it was reopening air routes to Qatar Airways and the land border between the two countries. The two other Gulf members of the quartet that had imposed the embargo, the United Arab Emirates and Bahrain, are expected to ease travel and trade restrictions. The fourth member, Egypt, will likely go along. The news will be warmly welcomed by the US, which has been trying to end the dispute among its Gulf Arab allies since it began on June 5, 2017. The Trump administration, which made ending the embargo an outgoing priority, will claim another Middle East policy success. And the incoming Joe Biden administration will be delighted not to inherit this disruptive squabble. For Qatar, this is a longed-for breakthrough. Doha managed to find short- and medium-term workarounds to the embargo, mainly by strengthening relations with non-

Arab neighbors like Turkey and even Iran. But in the long run, Qatar needs to have decent working relations with its larger Gulf Arab neighbors. What’s unclear is what Qatar has been willing to give in order to get out of its regional isolation. Doha will be dropping formal complaints and lawsuits against its GCC partners, but there are underlying political and ideological divisions that other Arab countries will expect Qatar to address as well. The UAE has been especially at odds with Qatar over the legitimacy of Islamist groups like the Muslim Brotherhood, which Doha strongly supports, in mainstream Arab politics. Riyadh shares some of these reservations, but is more incensed by Qatari support for Saudi opposition figures in the region and, allegedly, within Saudi Arabia itself. The quartet’s main demands when the embargo was first imposed included a clean break with the Muslim Brotherhood and the closure of Qatar’s influential Al Jazeera TV network. It’s clear that channel isn’t

Qatar would be making a big mistake to conclude that it has somehow prevailed in the dispute. The embargo demonstrated that its neighbors can live without Qatar far more easily than Qatar can function in isolation from them. And since none of the core issues appear to have been resolved, a third Gulf Arab standoff in the foreseeable future remains a distinct possibility.

going to shut down, but close observers will be watching for a shift in the editorial policies that Qatar’s neighbors believe threaten their interests. These disputes are deep-seated, and this isn’t the first round of this confrontation. There was a similar, though less intense, version of the same standoff in 2013-2014, which was resolved by a set of understandings that were vague and aspirational. Qatar’s commitments were implicit, to be demonstrated in practice rather than enumerated in writing. The embargo in 2017 was the neighbors’ way of saying Doha hadn’t kept its end of the bargain. Will it do so now? Quite apart from keeping Al Jazeera on air, it is extremely unlikely that Qatar’s deepening ties to Turkey, which greatly exercise the Emiratis and Saudis,

will be curtailed. While the UAE may go along with the lifting of the boycott, its main concerns have not been resolved. Saudi Arabia, however, is more focused on the threat posed by Iran, and any prospect, however slim, to pull Doha away from Tehran is welcome. For the Saudis, the Qatar boycott had long since reached the point of diminishing returns, but they didn’t see any immediate need to change course. But with the rising tensions with Iran and the imminent arrival of a Biden administration that is amenable to making a deal with Tehran, calculations have changed. Opening Saudi air routes to Qatar Airways will deprive Tehran of about $100 million paid annually to Tehran for use of routes over Iran. The lifting of the embargo doesn’t mean Qatar will go from being a friend to a foe of Iran, but the Saudis will take comfort from reducing Doha’s dependence on the Islamic Republic, while bringing Gulf Arabs closer together in a pro-American coalition. How long this rapprochement will last is a different question. The ideological chasm between the UAE and Qatar will remain as wide and as bitter as ever. While deferring to the Saudis, the Emiratis will regard Qatar as being on a kind of probation. The experience after 2014 is not encouraging.

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The biggest Covid mistake was avoidable

‘You are my beloved Son’

By Mervyn King | Bloomberg Opinion

o sensible person should envy politicians having to decide how best to combat Covid-19. Confronted with a new virus, errors and missteps were inevitable. But their biggest mistake was unnecessary—they pretended to know more than they did. From the start, under relentless pressure from the media, governments expressed unwarranted certainty about the merits of their policies. Then, when circumstances suggested a change of course, they explained the new direction with equal certainty. After a few such reversals, trust declines. And trust in political leadership is crucial—especially now, with people beginning to be asked to get vaccinated. Many governments cast their false certainties as a matter of deferring to experts or trusting “the science.” (Sadly, many scientists were only too happy to be co-opted in this way.) Six days before the election, President-elect Joe Biden said: “I believe in science. Donald J. Trump doesn’t. It’s that simple, folks.” No, it isn’t. The science of the new coronavirus and the conditions it causes is anything but settled. And the question of how best to contain infections wouldn’t be exclusively scientific even if everything about the virus was understood. This question is, in fact, unavoidably political. Pretending otherwise doesn’t work. It erodes trust and, as a result, only makes the policy challenge even harder. No country has found it easy to manage the pandemic. Even those that did best, such as Taiwan and South Korea, have encountered setbacks. Europe’s new wave is happening despite tight restrictions on movement. Finland, Denmark and Greece were all doing well earlier this year; all are now seeing cases and deaths rise. France, Germany, Italy, Spain and the U.K. are struggling, and the US continues to set new records. The differences between countries aren’t fully understood. Rich countries in Europe have apparently performed worse than many poor countries in Africa. Singapore has suffered far more cases than Korea, but far fewer deaths. Why? We don’t know. The very concept of a “case” of Covid-19 is slippery — it means that a person tested positive according to a particular test set at a particular threshold. Policy under these circumstances is bound to be a process of trial and error. In deciding how far to restrict economic and personal freedoms in order to suppress the virus, political leaders have to balance many factors. Listening to and challenging scientific advice is part of that role; pretending that “the science” tells us what to do is not. Trial and error, honestly admitted, can at least strive to be methodical. Instead, the drift in many countries toward ever more complicated and constantly changing rules is making the credibility problem worse. England is now divided into three tiers with varying degrees of restriction. Anomalies abound. London has lately been in tier 2, or “high alert.” (It

An international agreement to provide financial and other help to a country in which a new virus is identified in return for a prompt closing of its borders would be a major, if difficult, step forward. This would enable other countries to avoid closing their own borders and shutting down large parts of their economies. will be in tier 3, “very high alert,” from December 16.) This meant Londoners were told they “must not socialize with anyone you do not live with… in any indoor setting, whether at home or in a public place,” and they “must not socialize in a group of more than 6 people outside, including in a garden or a public space.” Why six? Does the science say seven is too many? The meaning of “strict lockdown” has varied widely from country to country—with some restricting outside exercise, for example, others not. Covid-19 is the same disease everywhere. It seems the most effective measures to defeat the new coronavirus have actually been pre-scientific— the centuries-old remedies of separation (“social distancing”), quarantine, and the closure of borders. This was easier for countries such as Taiwan and New Zealand than for countries in Europe. The crucial and truly remarkable contribution of science has not been in designing lockdown measures based on unreliable predictions, but developing at record speed vaccines that hold out the promise of a return to a more normal life in 2021. It’s likely to be several years before a useful assessment of how best to curb the spread of the disease can be made. At that point, lessons for the future can be drawn. Governments will doubtless be found to have made mistakes. Such is the nature of decision-making under radical uncertainty. Two conclusions, however, can be drawn right now. First, pandemics will recur, and we need to be better prepared for the next one. Second, closing borders until an initial outbreak has been suppressed might be the single most important measure to prevent the spread of a new virus. An international agreement to provide financial and other help to a country in which a new virus is identified in return for a prompt closing of its borders would be a major, if difficult, step forward. This would enable other countries to avoid closing their own borders and shutting down large parts of their economies. In the meantime, don’t pretend to know what you don’t. It requires a lot of intellectual self-confidence to answer a question by saying, “I don’t know.” Sometimes, that kind of honesty is what the public interest demands.

Msgr. Sabino A. Vengco Jr.

Alálaong Bagá

he Feast of the Baptism of the Lord draws us to the close of the Christmas cycle. The incarnate Son of God born of a woman is divinely affirmed as the beloved Son with whom the eternal Father is well pleased (Mark 1:7-11). At his baptism the messianic identity of Jesus is established and manifested.

God’s mighty servant John the Baptizer is essentially preparing the people for Jesus, contrasting himself and his baptism with Jesus and the baptism that Jesus brings. Without hesitation John emphasizes his inferiority in comparison with Jesus, who is simply more powerful that he is. Glorifying Jesus, John accepts that the authority and superiority of Jesus are such that he does not deem himself worthy even just to loosen the strap of Jesus’ sandal, a menial task ordinarily performed by a slave. Next, John contrasts his baptism with the baptism by Jesus. His is the customary ritual and symbolic cleansing with water. The baptism by Jesus will be in the Holy Spirit, in the divine power that leads to the eschatological time of fulfillment, recalling the promise

Bloomberg Opinion

he future of Ant Group remains up in the air after its dramatic fall from grace. Regulators seem to have stopped short of dismantling it and the company is considering a transition to a financial holding company, willing to be regulated like a bank. It’ll be tough. What could Ant ultimately look like? Bank-like companies don’t command tech-like valuations. Unless, of course, you’re in the booming consumer finance market in China, which is expected to hit 3 trillion yuan ($464 billion) in volumes over the next four years. That’s where credit demand

is—and that’s where Ant’s reach is. More importantly, state planners are trying to generate domestic demand and supply, keeping with their socalled dual circulation strategy. For that to work, credit will have to flow to households effectively. Beijing knows that too. Growing disposable incomes drove consumption growth for the better part of the last decade but has been slowing. That means the authorities need another way to keep its economy humming along. In 2019, consumer finance customer numbers swelled to almost 130 million, up over 50% from the year before. The state also knows that’s good for the economy. Data show an increasing correlation

It is the mystery of God’s loving presence in and through the incarnate Son, and in heaven and on Earth all must give praise. And God’s voice is creative; the world is launched in a regeneration mode as it speaks over creation and over the head of Jesus emerging from the waters of the Jordan. It is a new creation and new humankind in the making as Jesus anointed with the Spirit is commissioned to start his prophetic ministry and messianic work.

And the Servant filled with God’s Spirit in the midst of humankind evokes the response of all creation (Psalm 29:1-4, 9-10). It is the mystery of God’s loving presence in and through the incarnate Son, and in heaven and on Earth all must give praise. And God’s voice is creative; the world is launched in a regeneration mode as it speaks over creation and over the head of Jesus emerging from the waters of the Jordan. It is a new creation and new humankind in the making as Jesus anointed with the Spirit is commissioned to start his prophetic ministry and messianic work.

with whom the Father is well pleased.

Alálaong bagá, the one who is born among us is the beloved Son of the heavenly Father, and his messianic mission is established at his baptism. He is the Servant anointed with the Holy Spirit and he brings to all nations with all power the gospel of peace and liberation, the promise of justice and the fulfillment of hope. And all cosmos must make a response. This feast of the baptism of our Lord is like a summary of the entire liturgical cycle, as it brings the community of faith at the threshold of our Lenten journey of baptismal renewal.

The Son anointed with the spirit

The chosen one filled with the Spirit (Isaiah 42:1-4, 6-7) is the one who will establish justice on Earth; he is a covenant to the people, and a light to the nations to liberate those who sit in darkness. His mission is to accomplish God’s merciful and saving action to all peoples, “a broken reed he will not crush, nor will he snuff out the light of the wavering wick.” Because God is with Jesus (Acts 10:34-38), anointed with the Holy Spirit and power, through him is proclaimed to all without partiality the gospel of peace. As the Lord of all, he makes room for everyone in God’s work.

Join me in meditating on the Word of God

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Biden and Brussels should start a carbon club By Andreas Kluth | Bloomberg Opinion

here’s a great way the US and the European Union could together address two huge challenges in one policy sweep. It’s to create a transatlantic “carbon club,” which I’ll describe in a moment.

The geopolitical promise of this idea is to resurrect the notion of the “West” at a time when the US and Europe are drifting apart but still hoping to rejuvenate their alliance after Joe Biden becomes president. The even bigger goal is to win the struggle against global warming, which both Biden and the EU cite as their priority. The only way to slow climate change is to dramatically reduce our planetwide emissions of greenhouse gases. And the best approach to that is to put a price on carbon that’s both high and rising. This signal will make producers and consumers adopt behaviors and technologies to pollute less. Within a given jurisdiction, we already know how to set such a carbon price. You can tax emissions directly. Or you can limit their overall amount by law, then issue carbon allowances that firms can buy and sell in an open market, at a price that constantly changes. This way emissions will be cut fastest wherever it’s easiest and cheapest to do so. Of these cap-and-trade systems, the EU, Norway, Iceland and Liechtenstein jointly have the world’s largest. Still, it only covers sectors—from power generators to steelmakers and airlines—that account for 40 percent of European emissions, so the system must be expanded. Even then it still faces a bigger problem.

What will Jack Ma’s Ant look like next? By Anjani Trivedi

to the people in Ezekiel (36:25-26) that God will “sprinkle clean water upon you to cleanse you from all your impurities” and to “give you a new heart and place a new spirit within you.” Perhaps as an expression of piety, Jesus submitted himself to John’s baptism of repentance. Of paramount significance was what Jesus personally experienced following that ritual: “He saw the heavens torn open and the Spirit, like a dove, descending upon him.” It is the advent of the time of fulfillment, with the heavens once more open and with the return of the Spirit. The baptism occasioned above all the divine affirmation that Jesus is God’s beloved Son who came in the flesh to carry out the Father’s salvific design for humankind, the faithful Servant

Thursday, January 7, 2021 A11

between the growth of consumer loans and retail sales in the country. Ant could potentially play an even larger role here than it is already doing, with more skin in the game. Over the last year, the government has encouraged the growth of consumer finance companies as well as the existing units of banks that deal in the business. Ping An Insurance (Group) Co. of China, one of the largest insurance groups, received approval for a new consumer finance company as did China Construction Bank Corp, one of the largest lenders by assets. The banking regulator also loosened restrictions on these lenders and expanded funding channels by allowing them to raise different

It’s that the rest of the world isn’t in the system. This both slants the economic playing field against European companies and leads to “carbon leakage.” Take a European steel company, for example. It must buy allowances to emit carbon, which is a cost. To avoid that cost, it can invest in technology that makes production cleaner, but that’s also expensive. By contrast, a Chinese steelmaker doesn’t incur this cost yet. A European firm that uses steel could therefore simply switch to buying it more cheaply from China than from the home market. The European steelmaker and its workers lose. And the world loses because the same amount of carbon—or even more—has been emitted, just elsewhere. Only the Chinese supplier wins. This is the classic problem of free riding, as analyzed by the economist William Nordhaus among others. In a nutshell, countries have an incentive to share in the benefits of a global public good—saving the climate— while shirking the costs of abatement. This logic, also known as the “tragedy of the commons,” explains why purely voluntary international climate deals such as the defunct Kyoto Protocol or the Paris Agreement tend to disappoint. The solution to the free-riding dilemma is the club model proposed by Nordhaus and now endorsed by sharp minds such as Guntram Wolff,

types of capital, including tier-2 capital compliant bonds. Ant had hitched itself to the trend. In August last year, it took a 50% stake in a new consumer finance company set up with Nanyang Commercial Bank Ltd., battery maker Contemporary Amperex Technology Co. and others. The banking regulator approved it the following month. To get back in the government’s good graces, Ant could assure the authorities that it will help and not hinder their agenda. For example, the company’s Zhima credit scoring system might dilute worries about banks taking on risky loans and, in the larger scheme, dovetail with the government goal of protecting

If we still have a shot at controlling global warming, this might be it. Moreover, this kind of positive cooperation between rivals in east and west would have other benefits. Anxiety is growing that the enmity between the US and China could one day end as the contest between Imperial Germany and the British Empire once did: in war.

the director of Bruegel, a think tank in Brussels. Here a group of countries would agree on a minimum international carbon price. All club members would then set about reaching that price with either a carbon tax or a cap-andtrade system, the equivalent of their club dues. As long as their domestic carbon prices are high enough and comparable, there’s no need for club members to punish each other’s imports, so they trade freely (if you ignore other tariffs and quotas for the moment). Non-members of the club, by contrast, would have to pay countervailing carbon duties on their exports to the club. The EU calls this a “carbon border adjustment mechanism” (CBAM). Unlike ordinary tariffs, the surcharges wouldn’t aim at making domestic producers more competitive but at spreading the cost of global carbon abatement. So they should be allowed by the World Trade Organization. To existing members, the benefits of membership would be obvious, so the club would be a stable coalition. All others would quickly see the upside of joining the club by aiming

for the same international carbon price at home. As a first and relatively small demonstration project, the EU could link its emissions trading system with whatever the U.K. implements, now that it’s left the European regime (thereby causing that system to shrink by 11 percent overnight). Simultaneously, the Biden administration could work on the bigger goal of introducing a national capand-trade for the US. All the while, diplomats on both sides of the pond would be preparing the transatlantic carbon club, a trade zone without internal carbon duties. Compared to negotiating comprehensive free-trade deals, such as the moribund Transatlantic Trade and Investment Partnership, this should be a cinch. In the process, the Western democracies would once again act as world leaders playing on the same team. But their club isn’t meant to be exclusive. Rather, it would measure its own success largely by how many new members it can attract over time. It would welcome the world’s biggest emitter of greenhouse gases, China, with particular enthusiasm. If we still have a shot at controlling global warming, this might be it. Moreover, this kind of positive cooperation between rivals in east and west would have other benefits. Anxiety is growing that the enmity between the US and China could one day end as the contest between Imperial Germany and the British Empire once did: in war. A successful collaboration against the common enemy, global warming, could defuse this conflict—and save the planet along the way.

household wallets. Morphing back into a much more clearly defined financial services player and away from the fuzzy fintech giant operations won’t be too tough for Ant. The hard part is capital commitment. But as a consumer finance company, Ant could raise capital via deposits from its domestic shareholders. It would also be allowed to borrow from banks or issue financial bonds. Many of China’s licensed consumer finance companies have commercial banks as backers. This isn’t likely to return Ant to its super-unicorn valuations. However, a stronger business model that is less reliant on low acquisition costs and tack-on businesses may actually sur-

vive alongside Ant’s more established payments business. Consider what’s happened to LendingClub Corp, one of the largest fintech consumer lending platforms in the US. The company started out as a marketplace for borrowers and lenders, hoping to upend the banking system. Six years on, it is buying a bank. That provides both cheaper funding for LendingClub and more clarity for regulators, who have approved of the move. The stock has popped since then. From market forces in the US to regulators in China, there seems to be convergence on where large fintech players should sit in financial systems and the purpose they serve.

A12 Thursday, January 7, 2021

PHL sets end-Jan goal in 1st tranche Covid vaccine buy By Samuel P. Medenilla

@sam_medenilla

MID criticism that the Philippines was trailing its neighbors in obtaining Covid-19 vaccines, the government is targeting to complete in January the procurement of the vaccines for the first tranche of its nationwide inoculation drive.

In an online press briefing on Wednesday, Chief implementer of the government’s national policy on Covid-19 Carlito G. Galvez said they have nearly completed their talks with six drug makers for the purchase of the vaccines. “We are now [in] advanced stages of negotiations with Novavax, AstraZeneca, Pfizer, Johnson & Johnson, Sinovac and Gamaleya.

We hope to close the deal with these companies this month,” Galvez said.

Short supply

He disclosed they are aiming to purchase 148 million doses of vaccines from the six manufacturers. This number is expected to benefit 50 to 70 million people, since it may take at least two doses for a

person to be inoculated from Covid-19. Galvez, however, admitted the number of vaccines they will be able to purchase may be lower than their goal due to the existing shortage in the international supply of Covid-19 vaccines. “We have seen in the US and Europe, they promised [to their citizens] 20 million [vaccines] will be

rolled out. But now we only see 3 million because of the supply chain and other different challenges,” Galvez said.

Pending applications

Among the six manufacturers, only Pfizer has a pending application for an emergency use application (EUA), according to Food and Drug Administration (FDA) direc-

tor general Eric Domingo. An EUA is necessary before a Covid-19 vaccine can be used locally until it can officially be registered by FDA. Due to the high demand for the vaccines from Pfizer, Galvez candidly said the government may not be able to get doses of it until the third or fourth quarter of the year. Continued on A4

www.businessmirror.com.ph

Companies BusinessMirror

Thursday, January 7, 2021

GMA Network to spend ₧20B Ayala unit to buy land from affiliate for new studios, digital reach

By Lorenz S. Marasigan

@lorenzmarasigan

MA Network Inc. is spending P20 billion in capital expenditures over the next 3 years to build new studios, produce more content, and expand its digital TV reach. Felipe L. Gozon, the company’s chairman, said the 3-year capital will be spent mainly in the construction of a new building that will house new art studios for the production and post-production of fresh content. It also covers the expansion

of its digital TV offerings, including home and mobile television. “Surpassing seven decades is no easy feat for our company especially during an exceptionally challenging year in 2020, but we are very proud of what we have

achieved so far through our people’s dedication and our commitment to Serbisyong Totoo,” Gozon said in a statement. Gozon did not provide a breakdown of the 3-year capex. The company said it is set to officially unveil early this year its mobile digital TV receiver, GMA Now, which will enable viewers to watch TV on the go for free with bonus interactive features. Further diversifying its programming, GMA said it is the new home of the National Collegiate Athletic Association for Season 96 to 101—including the centennial year of the Philippines’s first athletic league in 2024.

GMA recorded a 78-percent increase in net income in January to September 2020, booking P3.91 billion in profits from P2.19 billion the year prior. Its top line increased by 4 percent to P12.66 billion from P12.22 billion, while its total operating expenses dropped by 23 percent to P7.06 billion from P9.12 billion. While it had also been affected by the economic crisis spawned by the Covid-19 pandemic, the company said it was able to recover its airtime sales during the second half of 2020. GMA said it also got a boost from the launch of its DTT receiver, GMA Affordabox, in June.

Converge fortifies fiber network

onverge ICT Solutions Inc. said it has completed the deployment of a third core node for its fiber network, boosting its redundancy and resiliency against outages. With the new node, Converge CEO Dennis Anthony Uy said, will enable the company to perform a “robust and redundant traffic routing,” ensuring that the network is “more fault-tolerant.” “We’ve always said that we are all about our customers’ online experience. This is one of the best examples of how we intend to back it up. Our main advantage is the quality

of our high-speed fiber connectivity,” he said. Uy added that with the third node the company’s “fiber network becomes stronger and more resilient with a more efficient network traffic distribution and better ability to address outages.” “Our expansion efforts are running at an unprecedented pace. And we know that network capabilities need to be more so we can serve everyone as best as we could.” Uy noted that the third backbone complements several network and connectivity enhancement initiatives that the company has started,

including the deployment of 34 broadband remote access server systems in Luzon, and the augmentation of its international bandwidth through key hubs in Hong Kong, Singapore, Taiwan, and the United States. “These network augmentation efforts have empowered our company to fully support customer-centric projects like our free speed increase for our residential plan subscribers. This free upgrade of all pure fiber home plans does require serious backend support. We are consistently working hard so our services can provide what our customers need–

a reliable network from a company they can trust. Especially at this time when the Internet has become a necessity to all of us,” Uy said. As of end-September, Converge has almost a million residential subscribers, with its network passing 5.1 million homes. Converge began expanding its network beyond Luzon to the rest of the Philippines in 2019. The company believes that it is well-positioned to substantially complete its primary nationwide backbone loop, which will connect Luzon, Visayas and Mindanao by the end of 2021. Lorenz S. Marasigan

Fujitsu bags Peza award for projects

Nidec Subic slashes work force by 70%

REIT Inc., the Ayala Land-led real estate investment trust (REIT), is acquiring land parcels owned by its affiliate Technopark Land Inc. (TLI) in Laguna for P1.1 billion. Based on a disclosure to the local bourse, the acquisition involves the purchase of four parcels of TLI land with an aggregate size of 98,179 square meters. This is currently being leased by Integrated Micro-Electronics Inc. (IMI) for its manufacturing operations. The transaction is expected to be completed on January 29. With the acquisition, TLI will assign the land lease contract of IMI to AREIT. IMI has been leasing the land since 2005, and it still has 7 years left under its current deal with TLI. AREIT may then extend the contract, depending on negotiations with IMI. “The 98,000 sqm. of land that directly generates lease income from IMI will start to contribute to AREIT’s income starting January 2021, adding to the earnings generated by the company’s existing buildings. This will increase the distributable income to its shareholders, demonstrate AREIT’s ability to deliver

stable and regular dividends and strengthen the potential for capital appreciation,” the disclosure read. With the acquisition, AREIT will have a recurring income portfolio of 344,000 sqm. of leasable space, double its current size of 171,000 sqm. from its initial public offering five months ago. Total property value of AREIT will also reach P37 billion. Ayala Corp. has a 78.77-percent shareholding in TLI, while Ayala Land Inc. owns 54 percent of AREIT. AREIT reported in November that its income in January to September 2020 reached P844 million on the back of its stable leasing portfolio. The company said its revenues reached P1.4 billion, some 3 percent higher than its REIT plan, while earnings-before-interest, tax, depreciation and amortization (EBITDA) was at P1.1 billion, 4 percent higher than its plan. The acquisition of McKinley Exchange in February and a higher occupancy rate at Ayala North Exchange boosted the company’s rental income to P1.1 billion, a 9-percent growth from the same period in 2019. Lorenz S. Marasigan

Cebu Pacific welcomes second ATR freighter

UE to its efforts to initiate social welfare programs that benefit the local community, Fujitsu’s Global Delivery Center (GDC) in the Philippines was recognized recently by the Philippine Economic Zone Authority (Peza) with an Outstanding Community Projects Award. “It is an honor for both Fujitsu and our employees to be recognized by Peza,” Arlene Gregorio, head of Fujitsu GDC in the Philippines, said of the accolade conferred to them as a causeoriented Peza locator during the agency’s 25th Anniversary and Investors’ Day celebrations held at the Peza Auditorium in Pasay City. Through its local delivery hub, the Japanese information and communication technology firm said it is committed to make the world, including the Philippines, better by building trust in society via innovation and supporting the 17 United Nations Sustainable Development Goals. Employees working there initiated community activities under Fujitsu’s Global Delivery Responsible Business Program (known as GRiP) Community Pillar aimed at empowering, engaging and enabling communities. In 2019, they dedicated some 1,400 hours of volunteering in some outreach programs of the company supporting children, elderly people and rescued animals. These included an education-focused program that benefitted more than 650 people. For instance, employee-volunteers, through an “Adopt-a-School” project, paid a visit to an elementary school in Cebu to provide lunch and donate school supplies, slippers and a television set for the 232 students. Parents of students who participated in the activity were also instructed in occupational health and safety. The Fujitsu workers conducted visitations at shelters/homes for the aged in Manila and Cebu to socialize with the elderly and donate wellness products, formulated nutrition, hand sanitizers and medical gloves/masks. The volunteers, likewise, supported an animal rescue organization in Cebu via activities like dog walking and bathing, grass cutting, and donating medical supplies. Roderick L. Abad

Photo from www.lagunatechnopark.com.ph

The Nidec factory at the Subic Techno Park in the Subic Bay Freeport. Photo by Henry Empeño By Henry Empeño Correspondent

ubic Bay Freeport—Japanese precision motors manufacturer Nidec Subic Philippines Corp. has laid off more than 70 percent of its work force here to maintain the viability of company operations, the Subic Bay Metropolitan Authority (SBMA) said on Wednesday. The firm, which specializes in precision electronic equipment, direct-drive spindle motors, and specialized digital core parts for multimedia, announced the retrenchment of 784 of its workers on Tuesday morning and released their separation pay as well, the SBMA added. “It’s sad news for us, but we hope that this will be just a temporary setback that would allow the company to weather the effects of the Covid-19 pandemic on the global economy,” said SBMA Chairman and Administrator Wilma T. Eisma. “The company will not close down altogether,” Eisma added,

pointing out that Nidec has retained 300 workers to maintain the company facilities at the Subic Techno Park here. According to the SBMA Labor Department, Nidec had listed 1,197 direct hires on its rolls, aside from 211 workers sourced out from a manpower provider and 36 from a security firm as of December 2020. However, financial difficulties had plagued the Subic production facility as early as August last year, said Nidec Vice President for Administration Tetsuya Nakao. In a letter asking the Department of Labor and Employment for exemption from the new minimum wage order, Nakao revealed that “the impact of Covid-19 pandemic has greatly affected our operating expense and doubled our company expenditures on shuttle services.” Last December, Nidec Deputy General Manager for Administration Daisy Mae Jaucian informed SBMA Labor Department manager Melvin Varias that the firm will reduce the number of its employees,

citing the closure of their base production of spindle motors effective February 5. “We find that we must reduce our workforce to ensure the financial stability of the company,” Jaucian said. “We have always valued and continue to value the contributions of all our employees and deeply regret the need for this action.” In the aftermath of the retrenchment, Varias said the SBMA will help Nidec in profiling the displaced workers to help them access alternative employment in the Subic Bay Freeport. Varias said the SBMA has identified a total of 254 job vacancies among 15 companies in the Freeport as of January 6 for which the retrenched workers may apply. The available positions included, among others, 150 production operators and 15 quality control personnel in a shoe factory; 21 engineer, operator and inspector positions in a computer manufacturing firm; and production planners in another Japanese firm.

Contributed Photo

eading Philippine carrier Cebu Pacific (CEB) recently took delivery of its second ATR cargo freighter, further strengthening its cargo operations to and from domestic airports with short runways. At present, only a third of the airports in the Philippines can accommodate jet aircraft, while the rest can only be served by turboprops. The ATR 72-500 aircraft with tail number RP-C7253 was converted at the Sabena Technics DNR S.A.S. facility in Dinard, France. CEB’s first freighter that arrived in August 2019 was likewise converted at the same facility. Both ATR freighters, operated by CEB’s subsidiary Cebgo, are equipped with a Large Cargo Door, allowing for capacity to be as much as 8 tons of palletized cargo. Apart from its two ATR freighters, CEB has also recently modified

one of its A330 aircraft into an allcargo configuration, removing seats so that cargo can be carried in the main deck. “We saw this pandemic as an opportunity to recalibrate our business and optimize operations to address the needs of our customers. There is a growing demand for cargo to and from the Philippines and our fleet of dedicated cargo aircraft allows us to address this while doing so in a more efficient manner,” said Alex Reyes, president and CEO of Cebgo. CEB has ensured transport of essential goods is not hampered, especially during this time. The carrier continues to anticipate its cargo business to continue flourishing, and its investment in these dedicated cargo aircraft supports its commitment to continue providing affordable and accessible air travel services for everyJuan.

Companies BusinessMirror

Thursday, January 7, 2021

PSE STOCK QUOTATIONS

January 6, 2021

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

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

42.8 99.9 80.8 24.75 8.49 10.32 44.4 10.82 28.1 53.6 96 18.3 125.8 70.05 0.91 38 0.65 3.93 6.9 1.5 0.375 800 0.82 152.3 2,000 1.02

43 100 81 24.9 8.5 10.36 44.5 12.18 28.2 54.7 119.9 18.5 126 71 0.98 38.5 0.7 3.96 7.31 1.56 0.385 810 0.84 152.8 2,044 1.08

43.25 102 82.9 24.75 8.39 10.36 46.5 12.4 28.3 53.6 95.65 18.52 129.5 72 0.97 36 0.7 4.01 6.9 1.55 0.37 800 0.73 152.9 2,000 1.04

43.25 102 82.9 24.95 8.5 10.38 46.5 12.4 28.9 54.7 95.85 18.7 129.5 72 1.09 39 0.7 4.05 6.9 1.65 0.385 800 0.84 152.9 2,000 1.04

43 99 80.05 24.75 8.3 10.28 44.5 12.4 27.85 53.6 95.65 18.5 122.8 70 0.91 35 0.7 3.75 6.9 1.52 0.37 795 0.69 152.3 2,000 1.02

43 99.9 81 24.75 8.5 10.36 44.5 12.4 28.2 54.7 95.85 18.5 125.8 70.05 0.98 38 0.7 3.95 6.9 1.52 0.385 800 0.84 152.5 2,000 1.02

11,900 5,037,830 1,469,370 62,500 129,400 655,400 6,326,400 9,300 301,400 970 30 100,100 864,830 20,230 684,000 90,700 1,000 323,000 600 635,000 1,130,000 2,260 2,295,000 8,220 200 348,000

512,375 504,880,470 119,037,432.50 1,547,170 1,097,588 6,765,762 285,193,490 115,320 8,499,670 52,113 2,871.50 1,859,984 108,442,875 1,448,775.50 661,430 3,425,825 700 1,275,010 4,140 1,000,410 419,950 1,807,750 1,783,310 1,256,178 400,000 356,560

8,600 -114,766,601.50 -37,330,873 294,590 -1,590,094 -109,235,440 170,895 32,696 -34,581,533 -143,900 83,200 -7,400 1,664,000 469,350 400,000 -

INDUSTRIAL AC ENERGY 9 9.03 9.6 9.68 8.14 9 78,276,500 691,616,156 1.26 1.27 1.28 1.31 1.23 1.27 2,593,000 3,286,650 ALSONS CONS ABOITIZ POWER 26.4 26.9 27.35 27.35 26.35 26.4 1,315,400 34,931,540 28.35 28.7 28.2 29.3 28.2 28.35 1,469,000 42,258,085 FIRST GEN 75.4 75.9 76.5 76.6 75.3 75.5 223,900 16,936,744.50 FIRST PHIL HLDG MERALCO 298.8 299 299.2 299.2 291 299 174,000 51,480,066 16.9 16.94 17.02 17.04 16.3 16.94 2,702,800 45,336,292 MANILA WATER PETRON 3.73 3.74 3.8 3.87 3.7 3.74 2,130,000 8,020,160 PETROENERGY 3.41 3.5 3.5 3.5 3.5 3.5 20,000 70,000 11.5 11.92 12.2 12.2 11.6 11.92 139,500 1,630,524 PHX PETROLEUM PILIPINAS SHELL 21.05 21.4 21.15 21.5 20.95 21.4 922,300 19,568,525 9.8 9.9 10 10 9.75 9.9 260,500 2,564,848 SPC POWER 14.02 14.66 14.78 14.78 14.78 14.78 400 5,912 VIVANT AGRINURTURE 7.6 7.76 7.79 7.87 7.2 7.76 520,800 4,009,300 3.26 3.27 3.35 3.35 3.11 3.27 3,688,000 11,844,840 AXELUM 13.7 14 14.2 14.2 13.7 13.7 1,600 22,120 CNTRL AZUCARERA CENTURY FOOD 17.88 18 18.4 18.42 17.82 18 2,379,300 42,883,760 7.55 7.68 7.27 7.85 7.25 7.68 90,000 671,308 DEL MONTE DNL INDUS 7.2 7.24 7.45 7.55 7.1 7.2 6,715,300 48,932,066 EMPERADOR 10.12 10.14 10.18 10.2 9.81 10.14 1,662,500 16,630,766 65.05 67 67 67 65 67 121,190 7,967,200.50 SMC FOODANDBEV ALLIANCE SELECT 0.64 0.67 0.67 0.67 0.64 0.67 1,698,000 1,110,360 1.63 1.64 1.63 1.74 1.59 1.64 37,570,000 62,029,190 FRUITAS HLDG 49.5 50 50 50.5 49.5 50 40,180 2,000,546.50 GINEBRA JOLLIBEE 193.7 194.4 194.4 194.8 190 194.4 565,340 108,934,813 39 39.4 39.9 40.5 39 39 7,300 289,305 LIBERTY FLOUR 8.04 8.39 8.04 8.39 8 8.39 9,300 74,679 MACAY HLDG MAXS GROUP 7.15 7.3 7.3 7.45 7.15 7.3 1,065,300 7,750,808 0.23 0.239 0.245 0.245 0.228 0.239 5,170,000 1,245,430 MG HLDG SHAKEYS PIZZA 7.7 7.72 7.7 7.76 7.64 7.7 430,200 3,305,016 ROXAS AND CO 1.23 1.25 1.28 1.31 1.2 1.23 10,880,000 13,546,250 4.54 4.69 4.7 4.7 4.69 4.69 17,000 79,800 RFM CORP ROXAS HLDG 1.64 1.66 1.64 1.65 1.64 1.64 107,000 175,580 0.122 0.127 0.122 0.127 0.122 0.122 500,000 62,050 SWIFT FOODS 154.9 155 150 155 148 155 948,170 144,819,667 UNIV ROBINA VITARICH 0.92 0.93 0.97 0.97 0.88 0.92 13,263,000 12,199,860 52.35 54.9 55.3 55.3 55.3 55.3 20 1,106 CONCRETE A CONCRETE B 55.5 58.2 54.85 59.3 54.85 58.3 230 12,863.50 1.39 1.4 1.45 1.45 1.34 1.39 11,694,000 16,270,400 CEMEX HLDG 5.5 5.69 5.11 5.7 5.11 5.69 247,400 1,313,610 DAVINCI CAPITAL EAGLE CEMENT 14.1 14.2 14.1 14.4 14.08 14.2 147,400 2,088,094 EEI CORP 7.21 7.26 7.2 7.29 7.18 7.21 307,000 2,211,469 7.2 7.25 7.45 7.5 6.51 7.25 6,428,100 45,875,404 HOLCIM MEGAWIDE 8.35 8.36 7.51 8.38 7.51 8.36 8,014,600 63,879,918 9.6 9.9 10 10 10 10 17,000 170,000 PHINMA 0.93 0.94 0.95 0.96 0.93 0.94 296,000 278,540 TKC METALS VULCAN INDL 1.07 1.08 1.02 1.08 1 1.08 6,338,000 6,605,550 1.76 1.78 1.8 1.8 1.76 1.76 111,000 198,010 CROWN ASIA EUROMED 2.28 2.33 2.38 2.4 2.28 2.33 956,000 2,235,320 PRYCE CORP 5.2 5.35 5.3 5.5 5 5.35 444,600 2,300,007 22.45 22.6 23 23 22.5 22.5 38,700 872,485 CONCEPCION GREENERGY 2.61 2.62 2.62 2.67 2.54 2.62 15,262,000 40,086,430 INTEGRATED MICR 8.72 8.75 9.38 9.6 8.33 8.75 4,090,800 36,410,517 1.17 1.21 1.2 1.23 1.13 1.21 2,075,000 2,488,180 IONICS PANASONIC 5.13 5.42 5.13 5.48 5.13 5.48 1,100 5,678 1.43 1.44 1.45 1.48 1.32 1.44 3,789,000 5,321,590 SFA SEMICON 6.41 6.42 6.62 6.87 6.12 6.41 8,510,600 55,346,860 CIRTEK HLDG

-51,083,722 38,400 -9,008,365 13,500,105 -11,673,470.50 11,360,124 -469,326 1,790 -3,500 -1,019,640 8,958,825 14,685 -93,284 892,860 -20,520,948 -14,045 22,179,119 -151,243 -3,468,528.50 -443,780 23,945 -3,548,712 4,837,102 -73,500 1,148,792 267,550 -29,520 20,375,838 351,240 -874,280 45,520 -1,530,334 -22,554 -18,242,496 8,020,007 61,000 -48,810 -70,263 140,145 -626,570 986,583 -19,200 279,030 807,366

HOLDING & FRIMS ABACORE CAPITAL 0.69 0.7 0.74 0.76 0.67 0.69 58,917,000 42,022,550 8.93 9.69 9.96 9.96 8.8 8.93 82,900 755,509 ASIABEST GROUP AYALA CORP 795 798 821 822 770 795 270,310 215,763,270 46.7 46.8 47.45 47.45 45.6 46.7 836,100 39,001,635 ABOITIZ EQUITY 9.7 9.71 10.02 10.04 9.54 9.71 7,323,200 71,216,029 ALLIANCE GLOBAL AYALA LAND LOG 3.22 3.23 3.4 3.48 3.05 3.23 9,449,000 30,761,860 6.58 6.6 6.6 6.6 6.6 6.6 8,200 54,120 ANSCOR ANGLO PHIL HLDG 0.79 0.8 0.8 0.83 0.76 0.81 346,000 279,140 0.85 0.86 0.87 0.88 0.84 0.86 3,049,000 2,620,060 ATN HLDG A 0.85 0.88 0.86 0.89 0.85 0.85 107,000 91,580 ATN HLDG B COSCO CAPITAL 5.35 5.42 5.46 5.5 5.2 5.35 2,581,000 13,984,590 5.36 5.41 5.65 5.65 5.3 5.36 12,145,300 66,031,600 DMCI HLDG 8.81 9.2 9.2 9.2 9.2 9.2 6,300 57,960 FILINVEST DEV FORUM PACIFIC 0.205 0.229 0.205 0.205 0.205 0.205 20,000 4,100 525.5 526 560 560.5 506 526 1,024,010 539,876,200 GT CAPITAL 3.92 4 3.92 3.92 3.92 3.92 1,000 3,920 HOUSE OF INV JG SUMMIT 70.7 72 71.3 72 70.1 72 1,362,150 97,352,421.50 5.1 5.64 5.1 5.3 5.1 5.1 4,600 23,650 JOLLIVILLE HLDG KEPPEL HLDG A 4.9 5.26 4.9 5.28 4.9 5.26 400 2,034 0.8 0.82 0.8 0.83 0.8 0.81 130,000 104,200 LODESTAR 3.72 3.73 3.72 3.73 3.72 3.73 2,022,000 7,521,960 LOPEZ HLDG LT GROUP 12.96 12.98 13 13 12.88 12.98 1,600,800 20,754,058 0.51 0.53 0.51 0.53 0.51 0.53 380,000 194,570 MABUHAY HLDG 4.2 4.21 4.26 4.26 4.11 4.21 18,535,000 77,303,900 METRO PAC INV PACIFICA HLDG 3.1 3.24 3.12 3.13 3.06 3.08 79,000 244,980 0.83 0.86 0.85 0.88 0.83 0.83 272,000 228,960 PRIME MEDIA 1.16 1.18 1.17 1.2 1.16 1.18 166,000 195,530 SOLID GROUP SYNERGY GRID 236 238 240 240 230.2 230.2 230 54,500 1,036 1,040 1,050 1,060 1,025 1,040 144,465 150,046,705 SM INVESTMENTS SAN MIGUEL CORP 128.9 129.5 130 130 126.1 129.5 135,570 17,388,092 SOC RESOURCES 0.74 0.75 0.77 0.77 0.74 0.75 40,000 30,210 132 135 135 135 130 135 2,390 318,946 TOP FRONTIER WELLEX INDUS 0.22 0.229 0.22 0.228 0.22 0.22 2,240,000 497,600 0.176 0.182 0.181 0.185 0.176 0.18 1,310,000 237,370 ZEUS HLDG

2,834,780 44,160.00 -54,799,655 6,089,545 -175,697 -1,935,580 23,760 -2,001,490 6,511,264 -135,259,800 45,740,269 -29,690 2,385,144 14,304,930 -36,497,320 -2,119,762 -1,500 -

PROPERTY ARTHALAND CORP 0.62 0.64 0.62 0.64 0.61 0.64 1,209,000 747,760 7.5 8.67 8.76 8.76 7.5 7.5 3,200 24,252 ANCHOR LAND AYALA LAND 40.25 41.05 41 41.6 39 41.05 6,928,000 280,397,765 1.13 1.18 1.18 1.18 1.13 1.13 8,000 9,180 ARANETA PROP 28.95 29 29 29.15 28.9 28.95 1,449,800 42,086,310 AREIT RT BELLE CORP 1.68 1.69 1.7 1.71 1.68 1.69 240,000 406,510 0.86 0.88 0.9 0.9 0.86 0.88 5,390,000 4,712,440 A BROWN CITYLAND DEVT 0.78 0.8 0.8 0.81 0.8 0.8 168,000 134,430 0.139 0.14 0.14 0.145 0.139 0.139 1,020,000 142,970 CROWN EQUITIES 5.5 5.95 5.95 5.95 5.5 5.5 17,800 98,497 CEBU HLDG CEB LANDMASTERS 5 5.05 5.06 5.07 4.96 5 1,382,700 6,903,256 0.43 0.435 0.44 0.445 0.43 0.435 5,930,000 2,570,950 CENTURY PROP 0.34 0.35 0.34 0.355 0.335 0.35 4,530,000 1,552,450 CYBER BAY DOUBLEDRAGON 14.52 14.54 14.96 15.02 14.02 14.54 5,008,700 72,523,398 6.81 6.98 7.34 7.34 6.68 6.98 228,600 1,613,570 DM WENCESLAO 0.305 0.31 0.305 0.315 0.305 0.305 740,000 229,900 EMPIRE EAST EVER GOTESCO 0.082 0.085 0.082 0.082 0.081 0.082 2,580,000 210,690 1.09 1.1 1.1 1.1 1.07 1.1 22,308,000 24,334,690 FILINVEST LAND GLOBAL ESTATE 0.91 0.92 0.92 0.92 0.9 0.91 1,598,000 1,453,550 7.81 7.98 8 8.05 7.81 7.98 32,500 259,593 8990 HLDG 1.32 1.33 1.38 1.38 1.3 1.32 8,072,000 10,790,090 PHIL INFRADEV KEPPEL PROP 3.2 3.28 3.03 3.29 3.03 3.28 184,000 568,460 0.72 0.75 0.74 0.76 0.74 0.76 192,000 145,410 CITY AND LAND 3.99 4.04 4.06 4.1 3.91 4.04 19,441,000 77,811,100 MEGAWORLD MRC ALLIED 0.59 0.6 0.65 0.66 0.57 0.59 208,672,000 126,763,300 0.385 0.42 0.385 0.385 0.38 0.385 420,000 160,300 PHIL ESTATES 1.59 1.6 1.57 1.67 1.55 1.59 2,031,000 3,233,090 PRIMEX CORP ROBINSONS LAND 21 21.1 21 21.2 20.55 21.1 4,699,800 98,103,690 0.3 0.305 0.31 0.31 0.3 0.305 350,000 107,400 PHIL REALTY ROCKWELL 1.57 1.58 1.59 1.59 1.56 1.56 178,000 279,400 SHANG PROP 2.65 2.69 2.68 2.69 2.65 2.65 86,000 229,560 1.93 1.97 1.98 1.99 1.93 1.98 79,000 154,780 STA LUCIA LAND SM PRIME HLDG 38.7 39 39.5 39.5 37.65 39 6,698,100 260,408,930 4 4.01 4.19 4.19 3.91 4 163,000 653,720 VISTAMALLS 1.73 1.75 1.8 1.82 1.65 1.78 3,137,000 5,458,500 SUNTRUST HOME VISTA LAND 4.45 4.46 4.55 4.55 4.3 4.45 5,325,000 23,396,420

12,400 -56,276,565 -28,879,655 149,630 -1,159,077 17,300 -1,324,650 -423,500 8,200 6,964,340 1,377,410 9,090 -5,218,430 -3,912,730 7,847,245 51,700 -133,340 36,173,100 -62,610 -961,860

SERVICES ABS CBN 13.9 13.94 14.18 14.46 13.72 13.94 1,852,300 26,050,068 5.82 5.88 5.9 5.92 5.75 5.82 1,095,000 6,370,927 GMA NETWORK MANILA BULLETIN 0.425 0.43 0.435 0.44 0.43 0.43 1,270,000 549,300 1,997 2,012 2,020 2,020 1,997 1,997 58,680 117,676,540 GLOBE TELECOM 1,350 1,370 1,378 1,378 1,347 1,370 60,960 82,944,580 PLDT APOLLO GLOBAL 0.179 0.18 0.18 0.184 0.15 0.179 2,760,910,000 471,122,310 14.84 14.96 15 15.04 14.74 14.84 3,413,200 50,722,350 CONVERGE DFNN INC 5.01 5.18 5.23 5.23 5.01 5.01 218,000 1,119,274 DITO CME HLDG 12.26 12.28 13.4 13.4 10.06 12.26 262,668,900 3,075,030,902 1.58 1.63 1.75 1.75 1.58 1.63 43,000 70,060 IMPERIAL ISLAND INFO 0.117 0.12 0.117 0.128 0.115 0.12 17,210,000 2,114,420 1.81 1.96 1.92 2.04 1.81 1.98 186,000 358,170 JACKSTONES 3.91 3.92 4.08 4.18 3.63 3.92 21,662,000 85,733,860 NOW CORP TRANSPACIFIC BR 0.34 0.345 0.36 0.36 0.33 0.34 27,170,000 9,289,550 2.92 2.95 2.97 3.18 2.84 2.9 2,139,000 6,381,530 PHILWEB 8.45 8.5 8.4 8.55 8.3 8.5 96,800 815,812 2GO GROUP ASIAN TERMINALS 15.04 15.06 15.18 15.18 15.06 15.06 20,800 315,068 5 5.05 5.23 5.24 4.85 5 7,930,300 39,743,746 CHELSEA CEBU AIR 45.95 46.35 46.8 47 45.5 45.95 931,900 43,182,045 INTL CONTAINER 121.5 121.6 124.9 125.2 119.3 121.6 1,204,360 146,554,898 15.46 15.8 15.46 15.8 15.44 15.8 3,200 50,132 LBC EXPRESS LORENZO SHIPPNG 0.97 0.99 1.01 1.01 0.96 0.99 420,000 403,490 6.29 6.3 6.15 6.55 6.01 6.3 5,631,600 35,122,499 MACROASIA 1.9 1.94 1.99 2 1.86 1.94 283,000 555,080 METROALLIANCE A METROALLIANCE B 1.77 2.04 1.76 1.76 1.76 1.76 7,000 12,320 6.5 6.6 6.56 6.56 6.45 6.5 79,600 514,492 PAL HLDG 1.55 1.56 1.64 1.65 1.52 1.56 4,514,000 7,128,950 HARBOR STAR ACESITE HOTEL 1.56 1.59 1.37 1.67 1.37 1.6 220,000 344,520 0.041 0.042 0.043 0.044 0.04 0.042 121,600,000 5,076,300 BOULEVARD HLDG WATERFRONT 0.57 0.58 0.6 0.6 0.55 0.58 15,003,000 8,630,640 CENTRO ESCOLAR 6.99 7.5 7.5 7.5 7.5 7.5 1,700 12,750 8.08 8.5 8.05 8.94 8.05 8.5 50,400 406,032 IPEOPLE STI HLDG 0.43 0.435 0.44 0.44 0.41 0.43 11,920,000 5,083,050 5.4 5.8 5.8 5.8 5.3 5.8 216,100 1,210,112 BERJAYA 7.98 8.02 8.15 8.15 7.85 8.02 2,658,200 21,189,684 BLOOMBERRY PACIFIC ONLINE 2.02 2.1 2.01 2.04 2.01 2.01 24,000 48,390 1.85 1.9 1.9 1.96 1.86 1.9 838,000 1,578,840 LEISURE AND RES MANILA JOCKEY 2.27 2.3 2.3 2.3 2.3 2.3 10,000 23,000 3.35 3.36 3.24 3.48 3.01 3.36 91,362,000 301,600,960 PH RESORTS GRP 0.46 0.47 0.47 0.485 0.46 0.46 23,910,000 11,219,150 PREMIUM LEISURE PHIL RACING 6.7 6.8 6.71 6.72 6.7 6.7 7,700 51,648 8.66 8.7 8.51 8.78 8.51 8.7 1,523,400 13,149,746 ALLHOME 1.44 1.45 1.43 1.49 1.43 1.45 1,687,000 2,436,530 METRO RETAIL PUREGOLD 38.8 38.85 39 39.45 38.6 38.8 6,586,000 256,896,170 62.7 63 63 63.75 62.05 63 519,530 32,668,480.50 ROBINSONS RTL 116.2 120.9 123 125 116.1 120.9 2,090 251,105 PHIL SEVEN CORP SSI GROUP 1.42 1.45 1.42 1.49 1.37 1.45 7,622,000 10,809,340 17.8 18 18.3 18.5 17.32 18 4,479,400 80,701,672 WILCON DEPOT APC GROUP 0.4 0.41 0.42 0.425 0.395 0.41 5,500,000 2,243,550 6.75 6.8 7.02 7.1 6.7 6.7 137,600 939,794 EASYCALL 6.2 6.74 6.79 6.79 6.2 6.74 6,400 41,369 IPM HLDG PRMIERE HORIZON 1.32 1.33 1.39 1.44 1.15 1.32 207,211,000 264,612,210 SBS PHIL CORP 5.2 5.58 5.12 5.2 5.12 5.13 57,100 293,422

-26,024,140 -14,295,100 4,356,230 15,275,758 -10,120.00 -28,709,982 -21,420 -92,180 -4,619,080 343,400 -227,950 -146,992 186,230 11,576,600 -86,935,617 120,459 138,400 1,341,910 296,950 -46,400 -9,459,237 569,510 1,980,480 -310,150 7,439,094 56,320 116,139,335 -11,765,529 -116,905 561,180 22,465,080 -6,251,040.00 -

MINING & OIL ATOK 7.52 7.89 7.69 7.96 7.5 7.89 360,300 2,750,744 APEX MINING 1.78 1.79 1.86 1.86 1.71 1.79 17,968,000 32,223,870 3,560,270 0.0033 0.0034 0.0032 0.0033 0.0029 0.0033 17,693,000,000 55,689,100 1,123,800 ABRA MINING 6.73 6.79 6.8 6.92 6.72 6.73 423,100 2,875,645 218,332 ATLAS MINING BENGUET A 3.1 3.2 3.17 3.3 3.08 3.2 906,000 2,880,720 3 3.2 3.18 3.25 3.1 3.2 411,000 1,309,200 BENGUET B COAL ASIA HLDG 0.28 0.285 0.285 0.29 0.28 0.285 1,180,000 334,700 2.85 2.9 2.65 2.9 2.65 2.9 104,000 298,390 231,540 CENTURY PEAK 8.18 8.28 8.19 8.3 8.06 8.28 33,600 273,084 DIZON MINES FERRONICKEL 3.03 3.05 3.09 3.22 2.84 3.05 33,742,000 102,775,810 6,091,540 0.28 0.29 0.29 0.29 0.28 0.29 1,270,000 366,600 8,700 GEOGRACE 0.172 0.175 0.183 0.188 0.16 0.175 94,100,000 16,408,800 LEPANTO A LEPANTO B 0.172 0.187 0.19 0.19 0.172 0.172 5,660,000 1,017,340 375,000 0.01 0.011 0.01 0.011 0.01 0.01 100,200,000 1,010,000 MANILA MINING A 0.01 0.011 0.01 0.011 0.01 0.011 13,300,000 134,100 MANILA MINING B MARCVENTURES 1.81 1.82 1.75 1.95 1.67 1.82 10,441,000 18,988,270 745,970 3.25 3.3 3.2 3.43 3.05 3.29 1,958,000 6,432,020 -99,400 NIHAO NICKEL ASIA 5.68 5.7 5.71 5.82 5.33 5.7 9,371,300 52,968,920 15,266,506 OMICO CORP 0.375 0.395 0.375 0.375 0.375 0.375 370,000 138,750 0.81 0.83 0.86 0.88 0.79 0.83 5,988,000 4,928,910 -129,630 ORNTL PENINSULA PX MINING 5.25 5.35 5.52 5.58 5.01 5.25 3,355,900 18,017,374 1,021,385.00 12.88 12.9 13 13.1 12.62 12.88 2,818,900 36,331,474 4,230,006 SEMIRARA MINING 0.006 0.0062 0.0057 0.0063 0.0056 0.0062 39,000,000 229,500 UNITED PARAGON ACE ENEXOR 13.22 13.28 13.2 13.6 11 13.28 1,515,300 19,468,422 604,892 0.011 0.012 0.012 0.012 0.011 0.012 128,700,000 1,447,100 ORNTL PETROL A 0.012 0.013 0.013 0.013 0.012 0.012 30,600,000 371,000 ORNTL PETROL B PHILODRILL 0.01 0.011 0.011 0.011 0.01 0.011 39,800,000 435,800 11.12 11.24 11.54 11.54 11 11.12 1,479,300 16,641,276 -2,468,398 PXP ENERGY PREFFERED HOUSE PREF A 100.2 102 100.2 100.2 100.2 100.2 10 1,002 102.1 109.9 102.1 109.9 102.1 109.9 470 51,497 ALCO PREF C AC PREF B2R 501 514 501 504 501 501 3,940 1,975,200 -100,260 103 104.9 102 102 102 102 500 51,000 CPG PREF A 101 103 103 103 101 101 110 11,130 DD PREF GLO PREF P 517 519 517 519 517 519 2,100 1,089,620 1,029 1,030 1,028 1,030 1,028 1,030 180 185,090 GTCAP PREF B MWIDE PREF 101.5 101.8 101.5 101.9 101.5 101.8 28,770 2,927,392 100 100.9 100 100 100 100 100 10,000 MWIDE PREF 2A 100 101.5 100 100 100 100 500 50,000 MWIDE PREF 2B PNX PREF 4 1,008 1,010 1,008 1,010 1,008 1,010 1,430 1,443,840 1,010 1,025 1,003 1,027 1,003 1,025 200 204,985 PCOR PREF 2B 1,070 1,080 1,075 1,080 1,023 1,080 30 32,015 PCOR PREF 3A PCOR PREF 3B 1,080 1,110 1,081 1,081 1,080 1,080 555 599,635 1.5 1.59 1.5 1.6 1.5 1.6 49,000 73,600 SFI PREF 77.95 78.75 77.9 78.75 77.9 78.75 25,100 1,956,543 SMC PREF 2C SMC PREF 2F 77.4 79 77.25 77.4 77.25 77.4 40,020 3,095,545 75.3 76 75.5 75.5 75.5 75.5 62,400 4,711,200 SMC PREF 2G SMC PREF 2H 76 76.1 76.1 76.1 76 76 163,400 12,422,122 77 78.85 77 77 77 77 20 1,540 SMC PREF 2I 75.5 76.1 75.5 75.5 75.5 75.5 2,200 166,100 SMC PREF 2J SMC PREF 2K 76 76.5 76 76.5 76 76.5 98,370 7,506,347 PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 13.4 14 14.2 14.2 13.02 14 533,100 7,190,820 2,002,800 5.78 5.98 5.76 5.8 5.76 5.76 53,600 308,896 GMA HLDG PDR WARRANTS LR WARRANT 1.03 1.06 1 1.06 1 1.03 558,000 577,260 SMALL & MEDIUM ENTERPRISES ALTUS PROP 11.7 11.76 12.08 12.1 11.3 11.7 576,800 6,728,528 -2,303,656 3.2 3.21 3.43 3.43 2.95 3.21 7,633,000 24,441,440 -780 ITALPINAS KEPWEALTH 6.23 6.24 6.21 6.41 6.21 6.23 62,500 391,965 7.2 7.22 7.6 7.98 6.43 7.2 81,256,200 579,481,560 -5,660,963 MERRYMART EXHANGE TRADE FUNDS FIRST METRO ETF 106.4 106.7 108.9 108.9 104.7 106.4 25,000 2,656,013 -251,081

www.businessmirror.com.ph

DTI to vehicle makers: Take advantage of safeguard duty

By Elijah Felice E. Rosales

@alyasjah

he Department of Trade and Industry (DTI) has called on vehicle makers to manufacture more cars here and, consequently, create jobs for Filipino workers to mitigate the impact of additional tariffs slapped on vehicle imports. Trade Secretary Ramon M. Lopez on Wednesday said now is the time for vehicle makers to boost their local production with a trade remedy in place against imports. He explained the DTI decided to impose a safeguard to save the jobs of thousands of workers whose livelihoods are put to risk by the surge in imports. “Safeguard duty is definitely meant to help and boost local manufacturing revival efforts and [is] meant to protect local jobs in the

manufacturing of cars and light commercial vehicles,” Lopez said in a text message to reporters. “The workers alliance in the car industry is the petitioner and their complaint is based mainly on jobs that are declining due to surge in vehicle imports. Injury to the local industry was proven, so we supported the petition of the metal workers alliance.” According to Lopez, the number of workers in the automotive manufacturing industry is now just num-

bering around 86,000, from nearly 100,000 before, and job losses were recorded as well in the production of car parts, metal works, plastic and wiring harness. When compared, he said the import volume have gone up during the time the jobs went down. Imports of completely built units surged 274,874 in 2019, from 88,013 in 2010, Lopez said, citing data from the DTI’s investigation on the safeguard. Likewise, he urged car makers to take advantage of the situation wherein additional tariff is put on imported units. This way, they can maximize their local production of certain models and they can sell it a price enticing to a population hit by an economic crisis. “Consumers have the option, and the dealers can now sell more of the locally made vehicles, such as Toyota Vios and Innova, and Mitsubishi Mirage and L300, the prices of which are not changing and therefore will be more attractive,” the trade chief argued. “Dealers will still have their busi-

ness. It is maintaining the balance. The imposition of the safeguard duty is in keeping with the law. If we don’t impose this safeguard, after finding injury to local industry, then we are risking the remaining jobs of the Filipino workers.” The Chamber of Automotive Manufacturers of the Philippines Inc. and the Association of Vehicle Importers and Distributors Inc. have long opposed the imposition of a safeguard on automobile imports, saying it will hurt the operations, particularly sales, of their members. On Monday the DTI imposed an additional tariff per unit of P70,000 on passenger cars and P110,000 on light commercial vehicles to protect local assemblers from a surge in imports. The DTI issued its preliminary determination to the petition filed by the Philippine Metalworkers Alliance to apply safeguard measure on vehicle imports. Lopez said the DTI found merit in the petition, and it is putting safeguard duty on the import of automobiles in response.

‘Consumers worry about food safety’

afety concerns surrounding Covid-19 have accelerated consumers’ worries about factors that impact overall health, most notably food safety and the environment, according to a global research study released by Tetra Pak. Conducted in partnership with Ipsos, the Tetra Pak Index points towards a dilemma in the consumers’ minds as they try to balance the critical priorities of human existence through safe food and sustainability of the planet we live on. The study, in its 13th edition, has seen a 10-percent increase in global concern about food safety and future food supplies, now at 40 percent, compared to 30 percent from 2019. In addition, more than 50 percent of consumers not only believe that improving food safety is the responsibility of manufacturers, they see it as the number one issue that companies need to tackle now and in the future. According to this year’s research, health is deeply connected to heightened issues of food safety and hygiene: with two-thirds of consumers saying that being healthy is being safe and 60 percent of consumers globally saying they worry about the food they buy being hygienic and safe. When asked what is key for them in a package, consumers indicate that ensuring food safety is its main purpose. They also express concerns about environmental innovations in packaging impacting food safety, even though the majority of respondents indicate ‘using sustainable packaging’ as one of the top issues food and beverage brands need to tackle. “Covid-19 has accelerated trends and cre-

ated a new landscape of consumer needs and opportunities for companies to build on, urging the industry to address the twin goals of meeting the human need for food while protecting our planet’s ecosystem,” Michael Wu, Managing Director of Tetra Pak Malaysia, Singapore, Indonesia, said in a statement. In line with the report findings, John Jose, Tetra Pak Marketing Director for Malaysia Singapore, Philippines, and Indonesia, shared the company’s efforts to address these concerns. “Tetra Pak is taking a critical step towards a sustainable future. We are already on a journey to create the ultimate sustainable food package: a carton package solely made from responsibly sourced renewable materials, fully recyclable and carbon-neutral, allowing ambient distribution and meeting food safety requirements.” In the Philippines, the discussion on the country’s vulnerability to climate change was pushed into the spotlight especially after three consecutive typhoons recently ravaged the country. With this growing concern on disaster mitigation and recovery, the private sector has amped up initiatives to reduce impact in the environment by using recyclable materials for their products and strengthening their plastic recovery programs. Additionally, the company noted that the impact of Covid-19 on supply chains has accelerated awareness of food waste as a pressing issue. Consumers cite food waste reduction as both the number one environmental issue they can influence themselves and one of the top three priorities for manufacturers.

Temasek fund backs agricultural AI start-up

ropIn, an artificial intelligence and data-based agritech startup, has raised $20 million in a funding round led by Temasek Holdings Pte-backed ABC World Asia, as the coronavirus pandemic accelerates the adoption of digital technologies in farming. The Bangalore-headquartered agricultural AI startup provides software-as-a-service, or SAAS, products to farms and development organizations globally to improve predictability, efficiency and sustainability of crops. Additional new investors in the Series C funding include Infosys Ltd. billionaire co-founder Kris Gopalakrishnan’s family office and a fund of the United Kingdom government, CDC Group. CropIn has raised $33.1 million so far. The company was set up in 2010 by Krishna Kumar, who hails from a family of farmers in central India and quit a career at General Electric Co. to found the startup after being deeply affected by widespread rural suicides in his country. It analyzes data such as aerial imagery, ground scouting, hyper-local weather and market price fluctuations from 13 million acres across 4 million farms worldwide to predict productivity and monitor risks for thousands of variants of crops. That allows the company to provide warnings to small farms

on what disease will hit a particular crop or when to expect an adverse climate event such as morning frost. “Covid has brought home for countries the risks of disrupted food supply chains, food safety and food security,” Kumar, also the startup’s chief executive officer, said in a phone interview. “Every country and every agri-business wants to remotely monitor and safeguard the supply chain.” Backed by early investors including the Bill & Melinda Gates Foundation and Singapore-based VC BeeNext, CropIn has customers and partners in 52 countries including Basel-headquartered Syngenta Corp., the World Bank, Canada-based McCain Foods Ltd. and Germany’s BASF SE. The new funding will fuel further global expansion and help strengthen its technology. India’s agritech space is abloom, with dozens of startups sprouting up in the last few years to disrupt dated farming practices and bring more efficiency into a massive industry dominated by small land holdings. One in nine agritech startups globally are from the South Asian nation, which had 450 such businesses in 2019, according to a report by the Indian trade body Nasscom. Bloomberg News

mutual funds

January 6, 2021

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 227.01 -10.07% -8.74% -1.34% 0.09% ATRAM Alpha Opportunity Fund, Inc. -a 1.3241 -3.36% -6.11% 2.9% 1.15% ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.1309 -13.88% -12.5% -2.75% 0.09% Climbs Share Capital Equity Investment Fund Corp. -a 0.7979 -10.41% -7.84% n.a. -0.37% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.7408 -12.84% n.a. n.a. -0.09% First Metro Save and Learn Equity Fund,Inc. -a 4.9485 -7.36% -6.51% -1.02% 0.33% First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.7587 -11.36% -9.04% -4.93% -0.05% MBG Equity Investment Fund, Inc. -a 100.69 -3.52% n.a. n.a. -0.03% PAMI Equity Index Fund, Inc. -a 46.8035 -9% -6.59% 0.33% 0.14% Philam Strategic Growth Fund, Inc. -a 488.31 -8.58% -6.57% -0.45% 0.05% Philequity Alpha One Fund, Inc. -a,d,5 1.0975 7.31% n.a. n.a. 1.48% Philequity Dividend Yield Fund, Inc. -a 1.169 -9.32% -6.36% 0.21% 0.57% Philequity Fund, Inc. -a 34.7335 -8.55% -5.98% 0.87% 0.39% Philequity MSCI Philippine Index Fund, Inc. -a 0.9131 -10.76% n.a. n.a. 0.36% Philequity PSE Index Fund Inc. -a 4.7872 -8.63% -6.15% 1.09% 0.14% Philippine Stock Index Fund Corp. -a 800.98 -8.42% -6.04% 1% 0.16% Soldivo Strategic Growth Fund, Inc. -a 0.7184 -14.66% -9.96% -3.2% -0.03% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.6223 -13.98% -8.05% -0.73% 0.05% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.9169 -8.67% -6.34% 0.88% 0.14% United Fund, Inc. -a 3.3173 -9.3% -5.47% 1.36% 0.03% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 107.4729 -8.38% -5.8% 1.74% 0.17% Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b $1.2317 17.65% 2.61% 7.42% 3.88% 9.51% n.a. Sun Life Prosperity World Voyager Fund, Inc. -a $1.6797 21.2% 0.62% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.6731 7.13% -4.01% -0.49% 0.43% ATRAM Philippine Balanced Fund, Inc. -a 2.2822 4.93% -2.77% 1.56% 0.12% First Metro Save and Learn Balanced Fund Inc. -a 2.6295 -0.23% -1.9% -0.28% 0.22% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1988 -13.45% n.a. n.a. 0.25% NCM Mutual Fund of the Phils., Inc. -a 1.9686 0.22% -0.73% 2.12% 0.23% PAMI Horizon Fund, Inc. -a 3.7845 -0.38% -1.59% 1.38% 0.03% Philam Fund, Inc. -a 16.9229 -0.42% -1.62% 1.31% 0.06% Solidaritas Fund, Inc. -a 2.0932 -1.69% -2.65% 0.02% 1.07% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.5741 -7.58% -4.02% 0.11% 0.29% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 1.025 0.67% n.a. n.a. 0.34% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.9484 -5.11% n.a. n.a. 0.11% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.9322 -6.43% n.a. n.a. 0.11% Sun Life Prosperity Dynamic Fund, Inc. -a 0.8863 -9.13% -4.84% -0.67% -0.11% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03921 2.54% 2.76% 2.08% 0.18% PAMI Asia Balanced Fund, Inc. -b $1.1758 12.93% 3.01% 6.24% 2.91% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.5296 15.4% 7.17% 8.13% 0.62% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.2068 8.65% 4.08% n.a. 0.6% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 371.07 3.67% 3.24% 2.82% 0.01% ATRAM Corporate Bond Fund, Inc. -a 1.9009 -0.08% -0.03% 0.09% 0.04% Cocolife Fixed Income Fund, Inc. -a 3.215 3.14% 4.46% 4.81% 0.04% Ekklesia Mutual Fund Inc. -a 2.2977 3.18% 2.99% 2.4% 0.06% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4534 3.99% 3.37% 2.14% 0.03% 0.06% Philam Bond Fund, Inc. -a 4.6343 5.82% 4.54% 3.08% Philam Managed Income Fund, Inc. -a,6 1.3213 5.17% 4.5% 2.72% 0.02% Philequity Peso Bond Fund, Inc. -a 3.9984 5.54% 4.48% 2.96% -0.05% Soldivo Bond Fund, Inc. -a 1.0423 8.01% 4.1% 2.69% 0.08% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.2074 4.2% 4.9% 3.53% 0.22% Sun Life Prosperity GS Fund, Inc. -a 1.755 3.15% 4.2% 2.91% 0.06% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $484.46 3.42% 2.79% 2.94% 0.14% ALFM Euro Bond Fund, Inc. -a Є219.46 -0.12% 0.87% 1.25% 0.14% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2846 6.45% 4.23% 3.25% 0.33% 2.22% 1.9% 0.38% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0267 3.49% PAMI Global Bond Fund, Inc -b $1.0949 -0.07% 0.65% 0.84% 0.18% Philam Dollar Bond Fund, Inc. -a $2.5424 5.72% 4.11% 3.74% 0.33% Philequity Dollar Income Fund Inc. -a $0.062359 3.31% 2.92% 2.36% -0.08% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.2382 1.54% 2.39% 2.64% 0.49% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 129.85 3.15% 3.35% 2.59% 0.04% First Metro Save and Learn Money Market Fund, Inc. -a 1.0483 1.66% n.a. n.a. 0.03% 2.52% 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 1.1272 n.a. n.a. n.a. 1.18% Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $0.98 -2% n.a. n.a. 0% 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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Delaying SSS payment hike pushed in Congress By Jovee Marie N. dela Cruz @joveemarie

HE move to defer the expected rate hike in Social Security System (SSS) premium contributions gained traction after two partylist lawmakers pushed late Tuesday for the passage of House Bill (HB) 8304. House Deputy Speaker Eduardo C. Villanueva and Rep. Domingo C. Rivera of Cibac partylist filed HB 8304 to amend Republic Act 11199 or the Social Security Act of 2018. The law mandates that employers’ and employees’ share to SSS contributions shall be increased to 8.5 percent and 4.5 percent, respectively― an increase of 0.5 percent from last year’s level in both employers and employees share. HB 8304, meanwhile, seeks to defer the mandated increase this year. It also provides that increases in SSS rates as provided by the law shall be suspended in the event of a pandemic. “The truth is that both laborers and employers suffered from the debilitating blow of the pandemic and, therefore, must be provided not only with necessary government assistance but also of needed reprieve from statutory salary deductions such as the SSS premium contribution,” Villanueva, House Deputy Speaker for Good Governance and Moral Uprightness, said. “The deferment in SSS rate hike means undiminished level of disposable income for our Filipino workers and employers which will help them cope and survive these hard times,” the lawmaker added. The bill includes even those who have managed to keep their jobs but suffered reduced pays as companies were forced to cut costs or downsize in order to keep afloat. “We thus call on Congress to pass with dispatch this much-needed legislation so that millions of Filipino employers and employees can be given enough space for them to get fully back on their feet,” Villanueva said. According to Rivera, HB 8304 “complements” the bill filed by Senator Joel Villanueva, Senate Bill (SB) 1965, last Monday. “We want Congress to swiftly act on this concern, which is an appeal from various business and labor groups,” he said. “By having counterpart measures being simultaneously deliberated in both chambers of Congress, we expect an expeditious passage of this measure which we believe is very much-needed by our fellow Filipinos who are grappling for survival amidst this pandemic,” Rivera added.

Hurt in long run

HOURS before HB 8304 was filed, SSS President and CEO Aurora C. Ignacio warned the deferment could hurt the long-term sustainability of their funds, especially since the pension fund manager expect to pay P231 billion worth of claims this year. Ignacio spoke amid calls from lawmakers and labor groups for the SSS to delay raising its contribution rate as mandated by law. “If that [SB 1965] will be passed into law and will be mandated by the President [to implement it], we will comply [with its provisions],” Ignacio said during an interview at a government-owned television station on Tuesday.

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 Nov.ember 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 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.

Listening to clamor

IGNACIO said that 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 RA 11199. Thus, we are bound by law to implement it,” she added.

Increase, credits

THIS January, the SSS contribution rate was increased to 13 percent from the previous 12 percent. The minimum monthly salary credit 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, landbased OFW members in countries with Bilateral Labor Agreements (BLAs) with the Philippines, and seabased 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.

Still cheaper

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. With additional reports by Samuel P. Medenilla

Thursday, January 7, 2021 B3

Swelling inflation may lead to policy hike, banker says

By Tyrone Jasper C. Piad

@Tyronepiad

HE Bangko Sentral ng Pilipinas (BSP) may hike key policy rates for the first time in a year should inflation continue to swell this year, according to Bank of the Philippine Islands (BPI) Lead Economist Emilio Neri Jr.

“In a worst-case scenario, elevated inflation in 2021 might force the BSP to hike rates at a time the economy continues to see [year-onyear] GDP [gross domestic product] decline,” Neri said in a research note last Wednesday. This week, the Philippine Statistics Authority (PSA) reported that consumer price growth accelerated to 3.5 percent in December from

3.3 percent the previous month. Inflation averaged at 2.6 percent in 2020, which is within the government’s target band of 2 percent to 4 percent. Overnight reverse repurchase facility is currently at 2 percent after being cut by a total of 200 basis points last year. “However, if fiscal stimulus can complement monetary easing, the

BSP can hike rates with minimal interruption on the growth recovery, and may limit the damage on markets especially when carried out with credibility,” Neri said. Neri noted that the increase in inflation was triggered by higher food prices due to supply constraints following the onslaught of typhoons in the country and lockdown measures. “Looking ahead, we see upside risks that could keep inflation above 3 percent in the coming months,” he warned. “The distribution of vaccines around the world in 2021 may lift global demand and push oil prices higher.” Still, at current levels ($47), the BPI economist explained that oil prices are anticipated to rise by 180 percent year-on-year in the second quarter following a low base in 2020. At the same time, the African Swine Fever (ASF) is still seen affecting the supply chain of the meat sector this year, which could keep pork prices high, Neri explained.

Cebuana bank targets unbanked via new card

n a bid to boost digital payment adoption, Cebuana Lhuillier Rural Bank (CLRB) and UnionPay International launched a new debit card catering to the unbanked and underbanked segment in the country. Dubbed as the “Cebuana Lhuillier 24K” card, the banking arm of microfinancial services firm Cebuana Lhuillier said the new offering will allow users to accumulate savings and withdraw cash. The debit card can also facilitate online payments here and abroad via UnionPay’s network comprising 52 million outlets and 2.9 million automated teller machines (ATM) across the world. “Consumers have greater needs for secure and convenient payment services since Covid-19 broke out,” UnionPay Chairman Jainbo Cai said. “This collaboration in card issuance stemmed from cooperation on technical specifications between UnionPay and regional partners, highlighting a new means for UnionPay’s business development in local markets.” Cai said that UnionPay is equipped with technological expertise, including block chain, intelligent risk management and big data analytics. Using this, he said UnionPay can further the digital transformation of Cebuana Lhuillier to provide better

service and promote financial inclusion in the country. Cebuana Lhuillier President and CEO Jean Henri Lhuillier welcomed the partnership with the global payment brand, noting that many of its customers will be benefitted from this. “With their [UnionPay] extensive network and state-of-the-art payment technologies, we believe that consumers in the Philippines will benefit greatly from the ease and convenience of payments enabled by the debit card, this will, in turn, facilitate financial mobility for many Filipinos and overall, enhance their payment experience moving forward,” he said. Last month, CLRB shared that it inked a partnership with bank card services company UnionPay, allowing account holders to make debit payments through its over 350,000 point-of-sale terminals and partner merchants. The rural bank also recently announced its partnership with electronic banking and payment network BancNet. CLRB said that its clients can benefit from both institutions’ networks to access their finances. Cebuana Lhuiller has more than 2,500 branches across the country while BancNet has 21,000 ATMs and 114 member banks. Tyrone Jasper C. Piad

In an earlier statement, the Ayalaled bank called for a strict biosecurity program among hog raisers in the country to improve risk management standards amid the ASF outbreak. On the other hand, Neri also explained that a rate cut became more unlikely as consumer price growth drew nearer to 4 percent level. It would widen the negative gap in real interest rates further if ever, he said, which comes with several risks. “Negative real interest rates are difficult to reverse as policy makers tend to overreact to volatility by the time policy needs to be reversed,” Neri said. “Low rates for an extended period can also lead to property, asset bubbles, and more income inequality.” The BPI economist maintained that the full-year GDP in 2020 may contract by 11 percent amid the continued economic slowdown. In addition, he is seeing a 7-percent rebound this year as mobility improves and more consumers shift to digital.

Hackers use Senator’s credit card to buy food By Butch Fernandez @butchfBM

ackers have hit a bigtime victim, using Sen. Sherwin T. Gatchalian’s credit card to book a whopping P1-million worth of orders via foodpanda on Tuesday, as he was busy presiding over a hearing of the Senate Committee on Energy. Gatchalian himself bared the details of the case and said he only noticed something amiss late Tuesday. “I only noticed it yesterday [January 5], about 6 p.m. So the whole day they were hacking my credit card,” the lawmaker said in an interview last Wednesday. The Senator said he was aghast that so much had been ordered in his name. “This can feed an entire barangay,” adds Gatchalian, who said that while he is used to ordering online especially during the pandemic, “malaki na ang P2,000 [P2,000 worth of transactions is usually the maximum].” Gatc h a l i a n, mea nwh i le, warned the public to be very alert as scammers abound amid

the lockdowns forced by the Covid-19 pandemic. “We are in pandemic and many people use online transactions, so these hackers are very active,” he said. In a radio interview, he credited his bank, Union Bank, with acting “quickly and they sent me screen shots of the transactions and asked me if these were mine.” When the senator disowned them, the bank “right away suspended the card,” he said, partly in Filipino. Gatchalian said he is filing a police report so the matter can be investigated by cybercrime experts. Asked if he would initiate a Senate hearing on the rash of online scams in a pandemic, Gatchalian said he might do so, if only to ensure that “other people don’t get victimized” similarly. “Obviously, I will not pay for this. In most cases like this, it’s the bank that must absorb” the losses from the fraudulent transactions, Gatchalian said, adding he understands “they have insurance” for financial mishaps like these.

Visa to help YouTrip expand Southeast Asia presence

ou Technologies Group (Singapore) Pte. Ltd., operator of Singapore’s multi-currency mobile wallet YouTrip, announced on January 6 a 6-year partnership with Visa Inc. to accelerate its expansion into the rest of Southeast Asia, starting with Malaysia and Philippines. Currently launched in Singapore and Thailand, YouTrip has amassed over one million downloads to date, the company said. The announcement comes a year after the firm’s first regional expansion to Thailand in partnership with Kasikornbank, one of Thailand’s largest banks with over 13.9 million online banking customers as of November 2020. The company said it continues to

establish a strong foothold in the multicurrency space online. “Most recently, [we have] successfully pivoted to overseas e-commerce payment and recorded a three-fold increase in quarterly transactions, compared to the same period last year.” According to the firm, the partnership with Visa will fuel its mission “to bring the best cross-border payment experience to travellers in Southeast Asia.” “With rising disposable incomes and increased air connectivity, the region is part of Asia Pacific’s projected $541-million outbound tourism expenditure in 2030,” it added. The company said consumers in Southeast Asia are also demonstrating

a strong preference for digital payments, with close to 70 per cent expecting their usage of cashless payment methods to increase over the next 12 months. It cited Visa’s Consumer Payment Attitudes study conducted in August 2019 among 5,102 consumers across Southeast Asia. “With regional travel poised to be the first step towards international travel recovery, this presents [us] with an opportunity to solve a unique pain point for Southeast Asian travellers,” the company said. It added that unlike regional travel in other parts of the world such as Europe or the United States of America, travelling within Southeast Asia requires multi-currency spending. “Coupled with the year-long pent

up demand for travel and cross-border payment, this puts [us] in good stead for further expansion,” the company said. The company said it is looking at Malaysia and the Philippines as the next potential markets in the next six to 12 months. “The two markets present massive untapped potential with outbound travel expenditure expected to reach $12.4 billion and $12.0 billion from Malaysia and Philippines, respectively, in 2021.” Additionally, Malaysia and the Philippines are two of the fastest-growing Southeast Asian countries in mobile payment adoption, from 17 percent to 40 percent and 14 percent to 45 percent, respectively, according to the company.

Gold holds near an 8-wk high as Treasury yields exceed 1%

OLD traded near an eightweek high as benchmark US Treasury yields topped 1 percent for the first time since March, with investors tracking elections in Georgia that will determine control of the Senate. The haven held in a narrow range as the 10-year yield rose as much as six basis points. In initial calls of the

contest, Democrat Raphael Warnock ousted Republican Kelly Loeffler, according to NBC, ABC and CBS News, leaving control of the Senate hinging on the other runoff. The move steepened the yield curve, reflecting expectations for a spending surge. Real yields remain negative. Gold has prospered in the new year, aided by a weaker dollar and

negative real yields, to build upon the biggest annual advance in a decade. Should Democrats win control of the Senate, it’ll result in a unified government, clearing the way for President-elect Joe Biden to enact his agenda to revive the world’s largest economy from the ravages of the pandemic. Vast amounts of stimulus and

rising asset prices hint at major inflation ahead, “so gold becomes an absolutely important hedge,” said Gnanasekar Thiagarajan, director at Commtrendz Risk Management Services. The rise in Treasury yields is weighing on gold slightly ahead of Wednesday’s release of minutes from the Federal Reserve’s December meeting, he said. Bloomberg News

Envoys&Expats BusinessMirror

Thursday, January 7, 2021

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Bahrain’s prince-prime minister receives PRRD’s special envoy

ANAMA—The Kingdom of Bahrain’s crown prince and prime minister welcomed President Duterte’s special envoy in Bahrain’s capital, as the former cited the importance of ties binding his country and the Philippines, then expressed the commitment to strengthen such based on deep respect, shared values, and true friendship.

In the 30-minute audience granted by His Royal Highness Prince Salman bin Hamad Al Khalifa to Special Envoy and Presidential Assistant on Foreign Affairs Robert E.A. Borje on December 31, 2020, Bahrain’s leader emphasized relations between the kingdom and the Philippines were important, and recognized the contributions of Filipinos to the socioeconomic development of his nation. During the audience, the crown prince and prime minister received and read President Duterte’s letter, which emphasized the value placed by the Philippine leader on the strength of their long-standing friendship with His Majesty King Hamad bin Isa bin Salman Al Khalifa as well as the crown prince and prime minister. In his letter, Duterte expressed the Philippine government’s commitment to further broaden and expand cooperation with the Middle East country, including the latter’s readiness to ramp up the partnership on migrant workers’ rights protection from bilateral to multilateral venues. This, even as the Chief Executive conveyed his gratitude for Bahrain’s royalties’ demonstrated commitment to protect the welfare and promote the well-being of Filipinos in the kingdom, particularly during the pandemic. The crown prince, in turn, assured Filipinos in Bahrain will be treated well. He assured it is the responsibility of his government to take care of Filipinos there, including their complete access to medical attention and care, regardless of citizenship.

Comprehensive, egalitarian approach

BORJE thanked and commended Bahrain for its effective and efficient management of the pandemic through a comprehensive and egali-

tarian approach that has seen tracing, testing, treatment, and now vaccination, extended to everyone residing in the kingdom—including the 50,000 Filipinos living and working there regardless of their legal status. He also conveyed Duterte’s deep trust and respect for the king and the crown prince-prime minister for the demonstrated commitment to upholding migrant workers’ rights, particularly in the efforts to dismantle the egregious kafala system, and the Philippines’s readiness to work closely with Bahrain to advocate reforms. The special envoy said Duterte recognizes the Middle East country’s leadership in upholding migrant workers’ rights and in reforming the sponsorship system, as he reiterated Duterte’s principled position that the Filipino is no slave to anyone, anywhere in the world. In response, the crown princeprime minister stated Bahrain “will not abuse that trust,’’ as he cited that respect for humanity and human dignity as core values of his nation. Stating that human freedom is essential, the prime minister said Bahrain continues on the path of labor and migrant reforms that can be emulated by other nations. He also emphasized the need to cooperate intensively on human rights, including migrant workers’ rights in multilateral fora to effectively end kafala, and address related issues, including human trafficking. Borje highlighted Bahrain’s role as a global leader in migrant workers’ rights, noting the Middle East country’s influence in promoting labor reform in its region, in particular, has transformed the lives of many Filipinos via empowerment and freedom. The special envoy welcomed the landmark conviction and sentencing

SPECIAL envoy and Presidential Assistant on Foreign Affairs Robert Borje (left) had an audience from His Royal Highness Prince Salman bin Hamad Al Khalifa on December 31, 2020. PRESIDENTIAL PHOTO/PNA

of eight individuals in April 2020 by the Bahrain High Criminal Court for the human-trafficking case filed by Filipino nationals. He described the decision as a testament to the strong determination and partnership between Bahrain and the Philippines for prevention, interdiction, arrest, prosecution and conviction to end the trafficking of human persons.

‘Partnership of brothers’

RESPONDING to Duterte’s desire and commitment to broaden and deepen cooperation between the Philippines and Bahrain, the crown prince underscored there are many opportunities worth exploring and expressed willingness and commitment to see Duterte’s objective realized, particularly through the establishment of consultative and coordinating mechanisms at the ministerial level to ensure collaborative efforts are acted on decisively. Borje noted increased trade and investment, cooperation in education, human resource development, public health, as well as Islamic banking and financial technology are particular areas of interest, saying cooperation in Islamic banking would provide crucial support for the President’s peace and development agenda in Mindanao’s Bangsamoro. In consideration of the special “partnership of brothers,” the Filipino envoy conveyed Duterte’s request for the two royalties to visit the Philippines as soon as circumstances allow, so both can reaffirm bilateral ties and experience the gratitude of the Filipino nation. The crown prince-prime minister welcomed the invitation. The audience granted by Bahrain’s top official capped the four-day official visit to Manama spearheaded by Borje. Accompanying him in the meeting were Undersecretary for Migrant Workers Affair Sarah Lou Y. Arriola and Ambassador of the Philippines to Bahrain Alfonso Ver. Since the pandemic began, Borje was only the fourth and the last foreign official to be received by the crown prince-prime minister over

the course of the year. At the end of the special mission, the Philippine delegation brought 243 Filipinos from Bahrain and the United Arab Emirates back to Manila.

‘No one left behind’

ON New Year’s Day, Borje assured all Filipinos—regardless of their status—would not be left behind by the Duterte's administration, as it continues to provide assistance to overseas Filipino workers (OFWs) affected by the ongoing health crisis. Speaking before 234 OFWs who arrived from Bahrain and United Arab Emirates at the Ninoy Aquino International Airport on January 1, Borje conveyed the President’s message of appreciation and concern for them. The repatriates included three abandoned minors, several detainees who had been imprisoned in Dubai, wards and their minor children from the shelters of the Philippine Embassy in Abu Dhabi and Consulate General in Dubai. It was the 60th chartered flight arranged by the DFA as part of the government’s Kalinga at Malasakit program for OFWs amid the pandemic. The present administration has taken similar intensified efforts, such as the Assistance to Nationals and repatriation programs to ensure the welfare of the Filipino workers abroad. Those awaiting repatriation were affected by lockdowns and unavailable commercial flights, as well as those whose work contracts have expired. So far, more than 327,000 Filipinos overseas have been repatriated since the contagion broke out. On their way back to Manila, Borje reassured the President and the government will continue with their commitments to serve and ensure the Filipino repatriates’ well-being. He expressed hopes that the flight’s arrival on the first day of 2021 would gain special meaning and significance, as it also represented new life and new opportunities back home for its home-bound passengers. PR/PNA

Capital access for Filipina-led SMEs now within reach

IVEN the support infrastructure, training and proper assistance, women will play a key role to help the Philippine economy bounce back from the pandemic. In line with this objective, the Macquarie Group Foundation—the philanthropic arm of Sydney, Australia-based Macquarie group—will be investing more than AUS$1.25 million (about P43 million) to bankroll the Macquarie-Investing in Women's RISE (Responsive Interventions Supporting Entrepreneurs) Fund. “The...RISE Fund will ensure women entrepreneurs can access funding required to adapt and respond to emerging business opportunities during the critical recovery period in the region,” pointed out Macquarie Group Foundation’s Global Head Lisa George. “Working through impact investors, our support will help businesses to restart economic activity in hard-hit areas of the Philippines.” Ambassador Steven J. Robinson AO of Australia as well as Macquarie Group’s Office Head and Manila Technology Division Director Eric Yaptangco recently formalized the agreement in Makati City. “Women will play a central role in the recovery from [the pandemic] and should have an equal part in a more resilient, inclusive and broad-based Philippine economy,” Robinson

SIGNING for the Responsive Interventions Supporting Entrepreneurs Fund memorandum of agreement were (from left) Macquarie Group’s Eric Yaptangco, Ambassador Steven J. Robinson AO, Foundation for a Sustainable Society, Inc.’s Christie Rowena C. Plantilla and InBestCap Ventures’ Benilda Ronquillo Camba the fund will enable both entities to provide commented. He said the RISE Fund will support much needed investments to women’s SMEs, and strengthen women’s small and medium which will have a multiplier effect in the local enterprises (SMEs), which will help the country economy, creating and sustaining more than build back better. 200 full-time jobs. “Closing the gap between women’s and men’s Moreover, the investment partners are commitaccess to capital will provide a significant boost ted to strengthening and widening the gender-lens to economic growth at a time when it is needed,” investing ecosystem in the Philippines, encouraging the envoy added. other investors to ensure women entrepreneurs can To maximize their support, George also access funding to grow their businesses. noted the public-private alliance will work InBEST CEO Augusto Camba said their organithrough two local investing partners: the Founzation is optimistic on the impact of the project: dation for a Sustainable Society, Inc. (FSSI) and "Our rich experience in working with various InBestCap Ventures (InBest). She also explained

enterprises and funders, and in developing and managing investment deals that generate positive development impact, will help build good and lasting business relationships with clients and partners.” Camba further stated, “With support from Investing in Women and the Macquarie Group Foundation, we expect to assist more women-owned and -led enterprises, catalyze more resources, rise above the present challenges, and contribute to economic recovery in the Philippines.” “We are excited to make use of the Macquarie Investing in Women RISE Fund, which, when cost-shared with our own resources, will help women’s SMEs access much needed capital to emerge stronger from the economic crisis,” said FSSI Board Member Christie Rowena C. Plantilla. “Now, more than ever, we must invest in sustainable communities driven and responsive to the needs of women.” Aside from the Philippines, the program also aims to inject game-changing capital for women-led businesses in the Southeast Asian region. According to stakeholders, the fund offsets the pandemic’s impacts on women-owned and women-led businesses, while providing much needed liquidity in a capitalconstrained market. Rizal Raoul S. Reyes

THE repatriation of 234 Filipinos from the Kingdom of Bahrain and the United Arab Emirates on January 1 was part of the Duterte administration’s Kalinga at Malasakit assistance for overseas Filipino workers due to the pandemic. PRESIDENTIAL PHOTO/PNA

Japan activates 2nd tranche of post-disaster standby loan

HE government of Japan, t hrough t he Japa n International Cooperation Agency (JICA), has released ¥10 billion, or about P4.6 billion, to the government of the Philippines as second-tranche disbursement under the Post-Disaster Stand-by Loan Phase 2 (PDSL 2) on January 5. According to Japan’s embassy in Manila, the assistance is expected to greatly contribute to the multifaceted and intensive efforts of the Philippines to revive the latter’s economy and its regions devastated by Superty phoons Quinta, Rolly and Ulysses (international names: Molave, Goni and Vamco, respectively) in 2020, and to recover the livelihood of vulnerable sectors seriously affected by the howlers. JICA entered into loan agreement with the Department of Finance on September 15, 2020, for this ¥50-billion loan (approximately P24 billion) to facilitate the local economy’s swift recovery after the onslaught of the series of disasters, both natural and health-related. This was the second time this special type of financing was extended to the Philippine government, with the first phase made available to support recover y from Supertyphoon Yolanda (international name: Haiyan) back in 2013. 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 conces-

sional terms. As a quick-disbursing budgetary support, the PDSL 2 defines clear guidelines on the trigger of disbursement—including a proclamation of state of calamity or public health emergency. The issuance of PDSL 2’s first tranche worth ¥10 billion to the Philippines on October 27, 2020, was prompted by the extension of state of calamity throughout the country due to the current pandemic, under Proclamation No. 929 on September 16, 2020. Of the same amount, the second tranche will be disbursed accordingly following the signing of Proclamation No. 1051 on November 18, 2020, which declared a similar state in the entire Luzon owing to the massive destruction caused by the recent supertyphoons. This loan assistance from Japan is in-line with the commitment made by Prime Minister Yoshihide Suga with President Duterte during their recent teleconference summit on December 14, 2020. Conveying his message of sympathies to the Filipino people in these difficult times, Suga reaffirmed Japan’s resolve to help the Philippines make a strong rebound from both the pandemic and natural disasters. In a statement, the embassy believes the PDSL 2—along with other ongoing assistance from Japan—will be instrumental in paving the way for the Philippine economy to get back on track toward sustained long-term development.

UK lauds Filipina nurse for her ‘outstanding’ work

NURSE from the Philippines, Charito Romano, was included in Queen Elizabeth II's New Year honors list for the former’s contribution to the United Kingdom’s (UK) response to the pandemic. In his tweet, Ambassador of the UK to the Philippines Daniel Pruce congratulated the Filipina and cited her “outstanding” services to nursing care in Surrey, a county in England’s southeast. "Many congratulations to Staff Nurse Charito Romano, from the Philippines, [who was] awarded a British Empire Medal in the New Year’s Honours for her outstanding work at Arbrook House Care Home in the UK during the...pandemic," the envoy said. A British Empire Medal (BEM) is given to individuals for their “hands-on” service to the local community. This could be a longterm charitable or voluntary activity, or innovative work of a relatively short duration that has made a significant difference. In October, Filipina nurse Minnie Klepacz was also distinguished with a BEM for her "tireless work to support her colleagues and community" amid the pandemic. Klepacz, a matron for ophthal-

ROMANO ARBROOK HOUSE CARE HOME FACEBOOK PAGE

mology, leads the hospital's Black Asian Minority Ethnic Network at the Royal Bournemouth Hospital. Citing a March 2019 report on UK’s National Health Service workplace diversity, the Philippine Embassy in the UK earlier said close to 19,000 Filipinos serve the European country's public health system either as medical professionals such as nurses and allied health professionals, or as support staff. Joyce Ann L. Rocamora/PNA

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www.businessmirror.com.ph

Editor: Gerard S. Ramos

• Thursday, January 7, 2021

MA Rainey’s Black Bottom, now streaming on Netflix, has many things going for it—among them the scorching title turn by Viola Davis.

DEADBEAT

THE actor was recently in the headlines because of a successful project which he dedicated to his son publicly. The boy’s mom is now married and she has custody of the kid. We’re not accusing anyone of anything but the mom’s hubby is very vocal about his support for the boy and the mom is quite open in her hope that the actor would support his son financially. The actor stopped acknowledging his son publicly years ago and it’s surprising that he is starting to do so now. The mom and her husband have so far done a good job of raising the child but they would welcome any help from the biological father. There is no bad blood here.

AGE DILEMMA

WHEN the young actress declared that her age was three years younger than her actual age, she did not realize that she would make it a big issue, and that it would catch up with her. She also has high-profile friends and when they publicly talk about their past escapades, there is no way that the actress is the age that she claims to be. She also doesn’t look it. These days, it’s difficult to lie about one’s age because of social media. People can actually track your age because of your posts. The actress changed her age at the suggestion of her management. She is actually thinking of coming clean about it but they don’t want to give their permission.

Ma Rainey’s angry blues

OPEN SECRET

THE actor and the actress spent the holidays together and while they were still careful about being photographed together, they did not make too much of an effort to hide either. They were with the actress’s family who fully supports the relationship. The actress has been bashed because of her involvement with the actor but she is in love. She has taken a big risk with the relationship because even she knows that public sympathy is not on their side. She has been in love a couple of times but never like this. Her last relationship was one that was staged by her management so this time, she is doing things her way.

HEARTBROKEN

THE actor and the actress used to be very much in love with each other but they eventually broke up and moved on. The actor was in a relationship with a lovely non-showbiz girl and they seemed happy. Everyone thought they would get married but one day, the actor dumped the girl and everyone wondered why. The girl is rich, beautiful and popular in her own way. Months later, the actor revealed that he and the actress are back together. Meanwhile, the non-showbiz girl was so heartbroken that she had to move out of the house she shared with the actor.

GLOBE LAUNCHES CAMPAIGN WITH BLACKPINK

IN line with Globe’s mission to bring world-class connectivity and entertainment into its customers’ homes, the telco has launched its newest campaign with global K-pop group, Blackpink. Following its announcement in early December, the partnership with Blackpink allows the telco to reach out to more customers and to the popular group’s millions of fans in the country. Globe and Blackpink’s partnership sends a strong message of reinvention: transforming oneself through powerful self-expression aided by digital technology with an attitude for resilience amid modern-day challenges. Side by side with its customers in this reinvention journey, Globe provides world-class partnerships, a consistent and dependable network that gets better everyday, and the most advanced technologies like cloud computing, artificial intelligence and 5G that will bring products and services to life. “We believe that Filipinos have the power to reinvent themselves in this new digital world. With Globe as their life partner, we open up a world of greater possibilities like we’ve never done before. Blackpink embodies the meaning of taking control and reinventing to achieve one’s dreams. We want to inspire our customers to be in control so they can do more and be more, especially with all the new technologies we have today,” says Issa GuevarraCabreira, Globe deputy chief commercial officer. As part of the reinvention campaign, a new TVC was launched with a full-blown digital take over and pre-show, all streamed on Globe’s social media and online platforms.

HERE is an angry film in town. It is not about war and killing; it is a chronicle of a day in a recording studio. It is also about the blues. It is about black bottom. It is about blues legend Ma Rainey. As cinema, Ma Rainey’s Black Bottom, now streaming on Netflix, has many things going for it. It has also many things going against it. For its strength, we have a film that does avoid to “Hollywoodize” the life of a singer who popularized a musical genre called “the blues.” What is the “blues”? Fast forward to contemporary times, to a singer named Koko Taylor who, it seemed, single-handedly sang the blues, or screamed the blues from the 1970s till her death in 2009. Koko Taylor, in an interview available on YouTube, talks about a working woman reporting to office and being told she was being laid off. “That’s the blues,” Koko Taylor intoned. “You go back to your room and find another woman’s nightgown, that’s the blues.” There was the origin of this music—the moaning, the lament, the shrieking even, the indescribable gloom that refused to be quieted down, the lonesomeness translated into an anger confronting lies and broken vows, or loves breached for the sake of other loves. There was music that was not music, musical lines that were not at all musical. There were melodies that were not melodic, and words almost guttural because they came from the gut, and meanings that were double and duplicitous, obscene and yet observant of the lack of manners with which women and men of color were treated. And there was Ma Rainey singing the blues.

Ma Rainey is in this film called Ma Rainey’s Black Bottom, and it is about time we listen to these lines: “Now, you heard the rest/Ah, boys, I’m gonna show you the best/Ma Rainey’s gonna show you her black bottom....” It is a personal vindication, the ultimate confession of a big black Mama. The song goes on: “I want to see that dance you call the black bottom/I wanna learn that dance/Don’t you see the dance you call your big black bottom/That’ll put you in a trance.” Trance? Yes, the blues is a meditation, a religion. It is a protestation, a protest; it pays tribute to skin and its politics. The song goes on and on, it calls on all the boys in the neighborhood who say Ma Rainey’s black bottom is really good. What’s going on? “Ah, do it ma, do it, honey/Look it now Ma, you gettin’ kinda rough here/You gotta be yourself now, careful now/Not too strong, not too strong, Ma....” When Ma Rainey recorded Black Bottom, she was already a big star, a diva if you please. But even a request for bottles of Coke (Coca Cola, not the forbidden variety coke) was to be ignored. “They are interested in my voice, that’s all,” Ma Rainey would be often quoted. That is not the only rant in the film. The boys in the band accompanying Ma Rainey placed in a decrepit basement pepper their rehearsal breaks with the recriminations about slavery and discrimination and the white man spooking the black man. They are one of the best soloists, perhaps some of the greatest players ever allowed by Ma Rainey to accompany her, but in the hands of the white men—manager and studio owner—they are putties. They exchange bitter epithets, they threaten each other bodily harm, but as soon as the white man comes down from the office, they grab immediately their instruments to show they are working. There are, in effect, three worlds in the film. There is the studio where, overseen by the two white men, Ma Rainey swelters in the heat with her gal and nephew. Then there is the rehearsal box where the musicians are. There is one more unseen world – the world outside where black men and women have no rights and where the White Man rules. Can there be too much anger in a film? Can there be too much injustice in the world? Ma Rainey’s Black Bottom swallows us into the

pit of those years when American music was being developed by the dominated “race.” Who would ever think that what would be deemed vulgar and trashy would later compose what is presently dubbed American music? In the meantime, we wallow in the most sordid portrayal of a great singer. Unrecognizable and physically repulsive, Ma Rainey is portrayed by Viola Davis. Gone are the fine features of this lovely actor. We are watching, sweat and grime, the make-up thawed by the heat and all but washed out, the dress in disarray, Ma Rainey, the Motha of the Blues. Ma Rainey was there long before Billie Holiday and even way ahead of Bessie Smith. Billie Holiday, in her biography, would cite Bessie Smith’s big sound as her inspiration. Ma Rainey would be the Mother and Smith, who would eclipse her in popularity, would be the “Empress of the Blues.” But Ma Rainey was the wellspring. Ma Rainey taught Bessie Smith how to wail. A significant portion of the film is in the waiting, the waiting for the Mother to sing the blues. Then it comes: Viola Davis as Ma Rainey gyrates, and bumps those hips, the tiredness in her body vanishes, her soul floats above the Earth it curses and blesses and forgives with a voice that has the sonority of a baritone and the spirituality of a contralto. In between are the growls from a world of sufferings. This is music at its most real. This is a song at its most beautiful ugliness. Structured to balance the heaviness in the studio, mainly provided by the genius of Davis, is the ensemble performance of the actors playing the session musicians. The acting of the group is made even riveting by one actor, the much-lamented dearly departed Chadwick Boseman. He plays the trumpet player, Levee, whose resentment is only equaled by his skill to produce the most impassioned passages. Boseman cries and froths at the mouth. He is a man ready to die or be killed for his passion and truths. He loses to dire circumstance in the film; we lose him to cancer in real life. The screenplay is written by Ruben SantiagoHudson based on the play of the same name by August Wilson. Music is by Branford Marsalis. The film is directed by George C. Wolf. n

Meghan and Harry end their eventful 2020 with first podcast By Andrew Dalton The Associated Press LOS ANGELES—The Duke and Duchess of Sussex have dropped their first podcast. Prince Harry and Meghan Markle and guests from Elton John to their son, Archie, appear on the royal couple’s first audio release on Tuesday for Spotify, a 34-minute special featuring reflections on 2020. he couple who stepped down from their royal duties in spring invited friends and people they admire to record audio diaries that were excerpted for the show. “It’s been a year, and we really we want to honor the compassion and kindness that has helped so many people get through it,” the Duke of Sussex says to introduce the podcast. “And, at the same time, to honor those who’ve experienced uncertainty and unthinkable loss,” the Duchess of Sussex adds. John, 73, was among the many musical artists who was in the middle of a tour when the pandemic struck. “All of the sudden we ground to a halt,” he says in his audio diary. Other contributors include tennis player Naomi Osaka, who won the US Open in 2020 and calls it “the year that I became more grateful for the things and the people around me.”

Stacey Abrams, whose push for voter registration helped put Georgia at the political center of the United States, calls 2020 a year that “saw horror and meanness surge, and justice fight back.” Despite the coronavirus pandemic dominating headlines, Meghan and Harry managed to make major news at the end of March when they stepped

down from their royal duties and soon moved to California, settling in the coastal community of Montecito. Tuesday’s podcast is their first under a multi-year deal between their production company Archewell Audio and Spotify. With some coaching from his parents, 1-year-old Archie ends the podcast with a “Happy New Year!”

B6 Thursday, January 7, 2021

Cebuana Lhuillier, UPI team up for first debit card for the financially underserved

EBUANA Lhuillier Rural Bank, the banking arm of the Microfinancial Services giant, Cebuana Lhuillier and UnionPay International (UPI) have teamed up to launch the Cebuana Lhuillier 24K card – a new debit card designed to empower unbanked and underbanked consumers in the Philippines to afford financial mobility for their day to day lives. As the first debit card that caters to the financially underserved market in the Philippines, the Cebuana Lhuillier 24K Card makes it easy and convenient for users to accumulate savings, withdraw cash and conduct digital payment locally and overseas via UnionPay’s network of over 52 million merchant outlets and 2.9 million ATMs located around the world. The launch is also significant as Cebuana Lhuillier Rural Bank is the first bank under the UnionPay and BancNet collaboration. Back in 2017, UnionPay reached a chip card standard licensing cooperation with Asian Payment Network where BancNet – the only ATM switch network in The Philippines - was one of the participating local switch providers. Mr. Jianbo Cai, President of CUP and Chairman of UPI said, “Consumers have greater needs for secure and convenient payment services since COVID-19 broke

out. This collaboration in card issuance stemmed from cooperation on technical specifications between UnionPay and regional partners, highlighting a new means for UnionPay’s business development in local markets. With its technological strength and experience in areas including block chain, intelligent risk management and big data analytics, UnionPay is willing to expand the scope of cooperation and help facilitate the digital transformation of Cebuana Lhuillier, providing better service to users in support of financial inclusion in the Philippines.” “We are pleased to partner with UnionPay, a leading global payment brand, to launch the Cebuana Lhuillier 24K card. With their extensive network and stateof-the-art payment technologies, we believe that consumers in the Philippines will benefit greatly from the ease and convenience of payments enabled by the debit card, this will, in turn, facilitate financial mobility for many Filipinos and overall, enhance their payment experience moving forward,” said Jean Henri Lhuillier, President and CEO of Cebuana Lhuillier. With the acceleration of digital payment adoption in the Philippines in recent months, the central bank has set

a target of raising the share of electronic payments to 50 percent by 2023. In support of this e-payment push, Cebuana Lhullier Rural Bank has simplified the Cebuana Lhuillier 24K Card application with the electronic or online Know Your Customer (e-KYC) process to make it accessible to its more than 30 million clients. By enabling card application through any of Cebuana Lhuillier’s more than 2,500 branches located nationwide, Filipinos can easily open a bank account and apply for the card, at Cebuana Lhuillier branches, or online via the eCebuana app available on iOS and the Google Play Store. With the Debit Card in hand, users enjoy the ease and convenience of digital payments at popular merchants such as Ace Hardware, Baby Company, Duty Free Philippines, Homeworld, Kultura, Mercury Drug Corporation, Miniso, Our Home, Pet Express, SM Retail which includes The SM Store, SM Markets and SM Appliance, Sports Central, Toy Kingdom, Watsons and many more. The Card will soon be enhanced with online payment features for users to leverage for e-commerce transactions, as well as UnionPay’s contactless payment feature - QuickPass.

Green Centrale opens first physical store and expands services to grass and landscaping services

AKING care of plants became a refuge for most people during enhanced community quarantine. It was during this time that Green Centrale started selling plants online to help aspiring plantitos and plantitas discover their green thumb. Months after the outbreak of the coronavirus pandemic, most companies have begun to adjust their protocols and started allowing their employees to start working from home—giving these people the chance to spend more time tending to their plants and gardens. In the city, indoor plants are mostly the craze although some have opted for urban

gardening, while those who have more space in their homes have committed to full on gardening. With a steadily growing community of plant lovers, it was but organic for Green Centrale to take the next step and grow its roots by launching its very first physical store. Much like any other business, location is important— which is why Green Centrale’s first physical store is located at Evia Lifestyle Center in Vista Alabang. The premium shopping and dining destination in the South is easily accessible to several provinces south of the metro and is only 30 minutes away from Makati via the MuntinlupaCavite Expressway which makes it easily

accessible to those living in Metro Manila as well. Customers can get a better buying experience in-store as they get to personally expect the plants before buying them and enjoy the wide selection of plants and gardening tools and supplies available at Green Centrale Evia. Limited time offer promos are also exclusively available in-store which helps customers get the best deals on healthy and ethically sourced plants. As a bonus, customers will also enjoy the jungle chic aesthetic of the store. In fact, visitors are encouraged to rake “plantfies” and tag Green Centrale on Facebook and Instagram. Only a few meters away from Evia Lifestyle Center is Green Centrale’s hub for its grass and landscaping services. The service is a new offering from the brand and is offered to residential lot owners. Maintaining a well-manicured lawn and garden is important not only to keep one’s home beautiful but also free from pests and other dangerous animals that prefer lurking on thick and dense grassy areas. Green Centrale’s landscaping hub is located at the corner of Daang Hari road and Villar Avenue at Bacoor City. Interested customers can drop by from 7 AM to 7 PM or set an appointment via our social media pages. For more information about Green Centrale, follow their social media accounts at facebook.com/ greencentraleph and Instagram.com/ greencentraleph.

Top HIV advocates call on Filipinos to prioritize health safety in next normal

URING last month’s World AIDS day, some of the country’s most known personalities came together to support the Protection and Preparedness Education (PPE) campaign of Durex, which is anchored on the Always Come Prepared message. Stressing the point that, “no one is invulnerable to catching HIV so always being prepared in encounters is a must,” the campaign is the brand’s way of advocating for HIV awareness and health safety during the COVID-19 pandemic. Through Durex’s World AIDS Day Campaign, which encourages everyone to join in on the fight against HIV/AIDS, celebrities and HIV advocates including TonyToni, Slick Rick, Sam YG, Ian Pangilinan, Paolo Pangilinan, Elijah Canlas, Kokoy De Santos, Macoy Dubs, Marc Teng, Freak & Jerck, Rica Cruz, Jabar Esmael, MA Buendia, and others all shared social media posts that showed them donning Durex statement face masks that carry such catchy but timely messages such as ‘Safety is Sexy,’ ‘Don’t Blow It,’ ‘Suit Up Before Hook Up’, ‘Always Come Prepared’ and more! “Even in the face of the pandemic, the brand strongly believes that continuing to raise awareness on HIV should not stop. This is why we launched the Protection and Preparedness Education (PPE) campaign,” says Durex Philippines. “We’re extremely pleased that a number of celebrities and influencers

DUREX PPE Mask Campaign Top HIV Advocates have all agreed to take part in this endeavor, which includes our fun but sensible Mask Initiative, by helping spread the word through their respective social media accounts.” To help boost their efforts to combat HIV/ AIDS amidst the COVID-19 pandemic and promote health safety, Durex also recently donated personal protective equipment (PPEs)—a total of 1000 face masks, 1000 face shields, and 7000 boxes of Durex Condoms each—to local HIV-advocate groups LoveYourself, The Red Whistle, and the PLHIV Response Center.

Chroma Hospitality wins special Virtus Awards

HROMA Hospitality Inc, the management company behind Crimson Hotels & Resorts and Quest Hotels, bagged the Champion of Resilience Marketing Communications Award for Covid-19 Response given recently by the Hotel Sales & Marketing Association International (HSMA). The special award was created to recognize the extraordinary campaigns and efforts of individuals, teams and group properties in addressing the challenges of the pandemic. Awarded were the hotel chain’s marketing campaign and Ma. Elena Cecille Daugdaug of Quest Hotel Cebu in the individual category. At the onset of the lockdown, Chroma’s marketing communications group launched the “Safely Apart, Closer at Heart” which emphasized the adherence to governmentmandated health and safety protocols. The MarCom team is composed of Christine Bautista-Reynoso, Ronie Marie Reyes, Jasper Acuña, Carmela H. Bocanegra, Chrystel Ilano-Acuña, Mia Mae Sy, and Renzelle Palma, and is headed

by vice-president for sales and marketing Carmela Bocanegra Based on the Virtus Awards criteria, the winner had the most comprehensive and well-planned campaign with clear messaging, and had the most digi-centric, shifting strategies and priorities online to thrive during adversity and bounce back stronger. “During this crisis, our objective is to help the tourism industry as an economic pillar. We are grateful for the opportunity to serve the Filipino people, and we are proud to have a team who is a force to be reckoned with. This makes us optimistic about the industry’s future, and exciting times are ahead as Chroma expands across the Philippines,” says the hotel chain country manager James Montenegro. He added that as the hospitality industry faces the challenges of the pandemic, the HSMA Virtus Awards is a unique platform for sales and marketing professionals to share best practices, business strategies and innovative programs.

Bellevue Resort offers RT PCR tests in its vacation package

S the province of Bohol opened their doors to tourist last December 15, 2020 , The Bellevue Hotels and Resorts has taken a big leap by providing complimentary RT PCR Tests to their guests availing of their ALL-IN Vacation Package. The resort’s latest promo has made beach bumming in style far too easy despite the current limitations. You only need to book your airline ticket, The Bellevue Resort’s All-in vacation package and you will be lounging by the beach in no time. The package includes a 3 days and 2 nights blissful stay at the resort with round

trip airport transfers, full Board set meals served at the restaurant, free use of all non-motorized aqua sports facilities and a complimentary RT-PCR Test for 2 persons for only Php 23,888 net. To reserve you may call their hotline at (+6338) 422 2222 or through their email at reservations@thebellevohol.com. For more information about the resort, visit its official website or call (+6338) 422-2222. Stay updated by following The Bellevue on Facebook and Instagram. Facebook: @TheBellevueResort, Instagram: @BellevueResort

Editor: Anne Ruth Dela Cruz

Health&Fitness BusinessMirror

DepEd to provide oral care services to learners, staff

he mouth is said to be the gateway to your overall health. That is why it is important to maintain good oral health among learners. To provide access to oral health services among learners including personnel of the Department of Education (DepEd), the department issued Order No. 041 on the Guidelines on the Implementation of School Dental Health Care Program (SDHCP) for school year 20202021. The order, which also covers medical and nursing services, provides preventive and curative services, including immediate dental and medical emergency care in schools through fully functional clinics. “We find it necessary to still provide these services to learners and personnel to address the high prevalence of dental caries and other health problems during the time of the pandemic,” Education Secretary Leonor Magtolis Briones said. T he recent re por t s on “Oplan Kalusugan sa DepEd” for school year 2018-2019 showed that the most common ailment in oral health were dental caries and gingivitis. The SDHCP provides learners in public schools and DepEd personnel the following: a) Distribution of healthcare supplies, which include toothpaste, toothbrush, and soap to all Kinder to Grade 6 learners; b) Application of fluoride varnish to all Kinder to Grade

3, prioritizing all Kinder entrants, if applicable; c) Provision of tele-consultation, oral examination, simple dental treatment, and referrals to learners and personnel; and d) Establishment of clinics and provision of medical and dental supplies in identified offices and Central Elementary Schools.

Approval needed All activities in the policy that require the physica l presence of learners in school premises are subject to the conditions of partial or fullscale face-to-face classes, should it be approved by the Office of the President. The sites for the establishment of the beneficiary clinics shall be an identified classroom in the listed Central Elementary Schools provided by the Planning Division and validated by the Education Facilities Division based on the provided criteria. Furthermore, the beneficiary school clinics will be given dental equipment with dental and medical supplies and a referral delivery network with the Rural Health Units (RHU). The clinic will be manned by either health personnel, a volunteer partner, or designated school clinic teacher. T he implementation of the School Dental Health Ca re Prog ra m for Sc hool Year 2020-2021 is aligned with the Basic EducationLearning Continuity Plan amid the Covid-19 pandemic. Claudeth Mocon-Ciriaco

Budget hotel group beefs up sanitation program By Roderick L. Abad Contributor

BUDGET hotel chain has strengthened its sanitation initiative amid the Covid-19 pandemic as more and more travelers stay in more than 100 HygienePasscertified accommodation facilities it manages since the local tourism’s reopening with the easing of government-imposed lockdowns. “With RedDoorz’s efforts to still offer our hotels to different kinds of travelers by fronting HygienePass, we’re really glad to see that there’s been a gradual 10 percent increase in our month-on-month occupancy, high visibility in different OTAs [online travel agencies], and more traffic results on our website and the RedDoorz app,” RedDoorz Philippines Country Manager Miguel Capistrano III told reporters during their recent webinar. Launched domestically in July 2020, the HygienePass attests to the cleanliness and sanitation protocols set by hospitality players in the new normal. With this certification program, RedDoorz has a digital system in place where rigorous hygiene standards are being implemented and maintained to keep guests worry- and risk-free during their stay at its hotels. The accredited establishments are, likewise, closely monitor the health of all their staff and guests, actively maintaining physical sanitation of their premises, and are now accepting bookings from local travelers. “It’s very interesting to see how RedDoorz, a brand known in the affordable hotels category, is becoming the largest new-age hospitality company today. With the efforts they have put in this program for the past

six months and how we’ve been keeping an eye on the Filipinos’ conscious health and safety requirements, HygienePass is the real deal as it brings out the new clean promise of the new normal era….I can assure you that we’ve seen how it shifted to being one of the top travel must-haves,” said Dr. Renzo Guinto, HygienePass consultant for RedDoorz.

Certified branches

The RedDoorz-managed hotel branches that have been issued with HygienePass certification are located in Metro Manila, Batangas, Baguio, Cebu, Davao, General Santos City, Laguna, Palawan, and Pampanga. Several non-RedDoorz hotels have also been certified. “It has been a challenge to certify hotels where we need to have actual audits of the hotels across the country, yet, we’re very proud that in very short time, 100 plus hotels have been given the certification with the full guidance of Dr. Renzo,” Capistrano said, while revealing their continued roll out of this hygiene and sanitation seal. “We’re planning to certify at least 250 hotels by the first quarter of 2021.” Given its improved business, the company expects the certification initiative to help sustain its growth, bolster the local tourism and rejuvenate the economy. “By the end of this year, we hope to have leveraged all channels available to keep HygienePass the real deal for travelers and for sure we’ll be keeping the business afloat and focusing on contributing to domestic travel recovery in the Philippines,” he stressed. Founded in 2015, RedDoorz is the fastest growing hotel management chain in Southeast Asia, with operations in Indonesia, Singapore, the Philippines and Vietnam.

Thursday, January 7, 2021 B7

Smoking among Pinoy youth widespread, survey indicates

By Claudeth Mocon-Ciriaco

hay Zelle Crisostomo, 17, wants his mother to quit smoking. In fact, his mother continued to smoke even while she was carrying him in his womb.

“She’s the only one raising me and my sister since our father left us. I hope my mother stops smoking,” he said. Jhay participated in “Young Artists for Young Survivors,” an outreach program that tapped young artists to help their fellow youth who are suffering from the illeffects of smoking. The event was organized by HealthJustice Philippines and Campaign for TobaccoFree Kids (CTFK). “In this time of the pandemic, people need all the help that they can find, and the good thing is that we need not be financially well-off to be able to extend a helping hand. With their talents, young artists can raise funds to support their fellow youth who are suffering,” said Mardy Halcon, country focal lead of CTFK. The event was a visual arts workshop and exhibit that involved young local artists. It was held during the last quarter of 2020 in partnership with the local government of Baguio City, considered one of the smokefree local government models for their stringent tobacco control ordinance and sustained implementation, the project is a visual arts workshop and exhibit involving local young artists.

Global Youth Tobacco Survey Tobacco use is the leading global cause of preventable death. The tobacco epidemic is one of the biggest public health threats the world has ever faced. The World Health Organization (WHO) attributes nearly 6 million deaths a year to tobacco. This figure is expected to rise to more than 8 million deaths a year by 2030. In the Philippines, some 10 Filipinos die every hour or a total of 87,000

every year due to smoking-related illnesses like cancer, stroke, cardiovascular and respiratory diseases. Data from the 2015 Global Youth Tobacco Survey (GYTS) had the following significant findings among those aged between 13 to 15 years old: n 79.4 percent of students, who currently smoke, buy their cigarettes from a store, shop, street vendor or kiosk; n 70.1 percent of students have watched someone using tobacco on television, videos or movies. n 71.6 percent of students have seen anti-tobacco messages in the media. n 53.2 percent of students have seen anti-tobacco messages at sporting or community events. n 63.1 percent of students have definitely thought that other people’s tobacco smoking is harmful to them. The GYTS is a school-based survey that uses a two-stage cluster sample designed to produce representative samples of students in year levels associated with the 13 to 15 years age group. All classes in the selected year levels were included in the sampling frame. The students who participated in the survey are current tobacco smokers. In the Philippines, a total of 14.5 percent of students are current tobacco smokers. Significantly, boys (20.5 percent) were more likely than girls (9.1 percent) to have smoked tobacco anytime during the past 30 days before the survey. About 12.0 percent of students are current cigarette smokers. Similarly, boys (17.6 percent) were significantly more likely than girls (7.0 percent) to have smoked ciga-

rettes anytime during the past 30 days before the survey. From these current cigarette smokers, 0.7 percent are frequent smokers or have smoked cigarettes in 20 or more days of the past 30 days. About three out of ten students are ever tobacco smokers (31.6 percent) and ever cigarette smokers (28.1 percent). Consistently, boys were significantly more likely than girls to have smoked tobacco or cigarettes. A notable percentage of students reported that they are tobacco users or those who have either smoked tobacco and/or used smokeless tobacco. Almost two out of ten students (16.0 percent) are current tobacco users and more than three out of ten students (34.1 percent) are tobacco users. From both tobacco use status, boys are significantly twice more likely than girls to have used tobacco. The results reflect that boys are more susceptible to health risks associated with smoking. Four out of ten (40.5 percent) current cigarette smokers reported that they usually consume less than one cigarette stick per day. Boys (35.4 percent) who smoke less than one cigarette per day is significantly lower than girls (51.9 percent). Survey results suggest that girls smoke lesser number of cigarettes than boys. Data also indicates a higher percentage for boys than girls for a higher number of cigarettes smoked per day.

Age of cigarette smoking initiation The percentage of respondents on age of cigarette smoking initiation among ever cigarette smokers of 13 to 15 years old high school students was highest at 12 or 13 years old (34.3 percent). More boys (35.8 percent) than girls (31.5 percent) had their first taste of cigarette at this age. However, it is also notable that girls specifically those aged seven years or younger, had an early encounter with cigarette smoking. A certain percentage of students reported that they had tried smoking cigarette at age seven years old

and younger (12.0 percent), with girls (14.5 percent) more likely than boys (10.7 percent) to have ever tried cigarettes at an early age.

DOH response Concerned about the impact of tobacco use, the Department of Health (DOH) has assured that it is looking for ways to address the issue. The DOH stressed that the effects of smoking should not be underestimated, “thus, efforts to collect an accurate assessment of the status of tobacco use has been intensified.” In 2009, the DOH-National Center for Health Promotion (NCHP) launched the Red Orchid Award, which aims to search for the national, regional, and local offices that implement a 100% tobaccofree environment. The NCHP also joined the Planning Meeting of the ASEAN Focal Points on Tobacco Control (AFPTC), which has the goal of ensuring that effective tobacco control measures are in conformity with the ASEAN Social Cultural Blueprint. In the same year, the DOH started implementing the Bloomberg Project titled, “Moving to the Next Level in the Philippines: Complete Implementation of the WHO-Framework Convention on Tobacco Control (WHO-FCTC).” The project is tasked to supplement the country’s tobacco prevention efforts, in congruence with the DOH-NCHP, and to enforce WHO-FCTC effectively. The key initiatives of the project include the development of a comprehensive National Tobacco Control Strategy (2011-2016) and Medium Term Plan (2011-2013), creation of the National Tobacco Control Coordinating Office (NTCCO) within the DOH, and formation of the DOH Tobacco Control Team (TCT) and 11 Sector-wide Anti-Tobacco (SWAT) sub-committees for the implementation of WHO-FCTC provisions. The NTCCO is in charge of working with other sectors of the DOH to synchronize tobacco control efforts and facilitated the development of the National Tobacco Control Strategy (NTCS) for 2011-2016.

Avail of beauty and wellness services in a safe environment eventually, it became part of the services that the clinic offered. “Patients do not want to go to the hospital to have their Covid-19 test. At Vine, they know that the chances of being exposed to the disease are very small considering that it is not a Covid facility,” Dr. Ems said. “We find that people would come back because they feel safe and I think that is our edge over the other Covid-19 testing centers.”

By Anne Ruth Dela Cruz

he beauty and wellness industry was badly affected by the lockdown brought about by the Covid-19 pandemic. Now that the government has eased lockdown restrictions, aesthetic clinics are reopening complete with safety protocols so that people can once again pamper themselves. Dr. Emehly Sevilla, or Dr. Em, owner of Vine Holistic Medical Aesthetics Clinics, related that when she started operating the Contours clinic at SM Megamall in September 2020, she had to introduce a lot of safety precautions. “We had to revamp the clinic because of Covid-19 and it was a requirement of the mall that we install acrylic barrier in the reception area,” she related. “Since acrylic is rather expensive, we just installed the acrylic in the reception area and then in the other areas, we just used acetate.”

Appointment

To avail of their services, which include infusion drips, natural face lift and contour, skin rejuvenation and hair revitalization therapy, among others, clients are encouraged to call the clinic to make an appointment. Walk-in clients, however, can be entertained but this will depend on the number of clients that are in the clinic at that particular time. “Before clients can enter the clinic, they need to have their temperature checked. We also do pulse oximetry testing because you can actually check the heart rate if it is normal and the

Permanent closure

A client undergoing Black Doll treatment at Vine. BERNARD TESTA

oxygen levels in the body,” Dr. Em said. Additionally, the client will also have to fill up a more detailed health checklist that is patterned after the checklist of a hospital. It also includes a declaration that states that the client can be held liable if any of the Vine staff get infected with the Covid-19 virus. “Prior to getting into the treatment area, the clients will be asked to wear booties over their shoes and their handbags will be placed in a plastic bag. They will only be allowed to hold on to their cellphones,” she said.

Disposable liners

When the client enters the treatment room, she will be asked to lie down on a bed that has a disposable and waterproof lining on top. This

lining is disposed of and changed after every client. The area is sterilized after each procedure. “Our staff wear PPEs, face masks and face shields and we make sure that they wear gloves when they are servicing our clients,” she said. Dr. Em is confident that clients will start coming back to Vine after months of being locked down at home. “Our clients are slowly coming back. The patients I have not seen for a year, are also coming back.” She was forced to close all three Vine clinics last year. Of the three, she was able to retain her clinic at the Bonifacio Global City because it served as their Covid-19 testing enter. She was lucky to have an alternate source of income during the pandemic so that she could pay her staff. She also started doing offsite testing and

When the government finally allowed aesthetics clinic to reopen, Dr. Em was forced to permanently close the other two Vine outlets at Golden Phoenix Hotel in Pasay City and at SMDC Light Residences in Mandaluyong City. “Golden Phoenix Hotel was transformed into a Covid facility so we had no choice but to close our clinic there. We had to close our clinic at SMDC Light Residences because it is a private residential building and they are very strict about having visitors,” Dr. Em said. “So we retained the clinic at BGC and I inherited, so to speak, a clinic in SM Megamall which is presently known as Contours operated by Vine Aesthetics.” For now, Dr. Em is happy to concentrate on her two clinics and her practice in Batangas. She is confident that people will start returning to her clinic this year. “This is the year to make yourself feel and look better after months of being locked down,” she said. “It is time to make yourself beautiful in a very safe environment.”

Sports BusinessMirror

| Thursday, January 7, 2021 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

By Farai Mutsaka

said is “a safe space” for the girls to share ideas. “The role of teen mothers is usually ignored when people campaign against child marriages. Here, I use their voices, their challenges, to discourage those young girls not yet married to stay off early sexual activity and marriage,” Maritsa said. Neither boys nor girls may legally marry until the age of 18, according to Zimbabwean law enacted after the Constitutional Court in 2016 struck down earlier legislation that allowed girls to marry at 16. Nonetheless, the practice remains widespread in the economically struggling southern African nation, where an estimated 30 percent of girls are married before reaching 18, according to the United Nations Children’s Fund. Child marriage is prevalent across Africa, and rising poverty amid the Covid-19 pandemic has increased pressures on families to marry off their young daughters. For some poor families in Zimbabwe, marrying off a young daughter means one less burden, and the bride price paid by the husband is often “used by families as a means of survival,” according to Girls Not Brides, an organization that campaigns to end child marriages. Some religious sects encourage girls as young as 10 to marry much older men for “spiritual guidance,” while some families, to avoid “shame,” force girls who engage in premarital sex to marry their boyfriends, according to the organization. Maritsa, through her association called Vulnerable Underaged People’s Auditorium, is hoping to increase the confidence of both the

The Associated Press

ARARE, Zimbabwe—In Zimbabwe, where girls as young as 10 are forced to marry due to poverty or traditional and religious practices, a teenage taekwondo enthusiast is using the sport to give girls in an impoverished community a fighting chance at life. “Not many people do taekwondo here, so it’s fascinating for the girls, both married and single. I use it to get their attention,” said 17-year-old Natsiraishe Maritsa, a martial arts fan since the age of 5 who is now using taekwondo to rally young girls and mothers to join hands and fight child marriage. Children as young as four and some of Natsiraishe’s former schoolmates who are now married, line up on the tiny, dusty yard outside her parents’ home in the poor Epworth settlement, about 15 kilometers southeast of the capital, Harare. They enthusiastically follow her instructions to stretch, kick, strike, punch and spar. After class, they talk about the dangers of child marriage. Holding their babies, the recently married girls took the lead. One after the other, they narrated how their marriages have turned into bondage, including verbal and physical abuse, marital rape, pregnancy-related health complications, and being hungry. “We are not ready for this thing called marriage. We are just too young for it,” Maritsa told The Associated Press after the session, which she

Ancajas eyes unification bout with Ioka

erwin “Pretty Boy” Ancajas is eyeing a potential unification world super flyweight title showdown after he tackles Mexican Jonathan Javier Rodriguez in a mandatory defense of his International Boxing Federation super flyweight crown this summer. Top Rank is promoting Ancajas’s title defense in the US.

Zimbabwean teen Natsiraishe Maritsa (second from right) teaches taekwondo to fight child marriage. AP

married and single girls through the martial arts lessons and the discussions that follow. Zimbabwe’s ban on public gatherings imposed as part of strict lockdown measures last week to try to slow an unprecedented surge in new Covid-19 infections have forced Maritsa to suspend the sessions, but she hopes to resume as soon as the lockdown is lifted. “From being hopeless, the young mothers feel empowered...being able to use their stories to dissuade other girls from falling into the same trap,” said Maritsa, who said she started the MP Promotion President Sean Gibbons said on Wednesday that he will discuss with the handlers of Japanese World Boxing Organization (WBO) super flyweight champion Kazuto Ioka (26-2 win-loss record with 15 knockouts) to set up the duel. “First, our mandatory obligation with Rodriguez. Then Ioka. It’s 1,000 percent we will negotiate that fight to happen,” Gibbons told BusinessMirror through

project in 2018 after seeing her friends leave school for marriage. Some, such as her best friend, 21-yearold Pruzmay Mandaza, are now planning on returning to school, although her husband forced her to step down as vice-chair of the association and stopped her from participating in the taekwondo training. Inside the neatly decorated small house adorned with Maritsa’s medals and pictures, her parents prepare fruit juice and some cookies for the girls—their sacrifice to help their overseas call. “Rodriguez’s fight contract has been done for one year.” The mandatory fight between Ancajas and Rodriguez (22-1 with 16 knockouts) was postponed twice—first in November 2, 2019, in Los Angeles because of visa issues and second, in April last year in Las Vegas because of the Covid-19 pandemic. Top Rank chief Bob Arum informed BusinessMirror that Ancajas (32-1-2 with 22 knockouts) will be in April or May and no longer February. “We have to wait until we all get back by April or May—but not [before],”

daughter’s efforts. “I can only take 15 people per session because the only support I get is from my parents,” said Maritsa. “My father is a smallscale farmer, my mother is a full-time housewife but they sacrifice the little they have toward what I want to achieve,” she said. “He is my jogging partner,” she added, referring to her father. Taekwondo is not very popular in soccer-mad Zimbabwe, but there are pockets of professional and backyard training schools. said Arum, 89, referring to the AncajasRodriguez bout. “We are preparing to start Top Rank fights by April. We need to get rid of this pandemic.” But Arum explained that the Ancajas-Ioka bout needs to wait for a few months before it becomes a possibility. “It can’t be done for now. You can’t get in Japan now because of Covid-19 and the Japanese people do not want to go outside Japan because they will undergo a 14-day quarantine when they come back,” added Arum, who is a close associate of Ioka’s Japanese promoter, Akihiro Honda. Arum is also scheduled to take an antiCovid-19 vaccine next week as he falls under the 75-year-old and above classification. “I am on the line to take the shot probably next week,” he said. Ancajas’s camp is also looking at unifying the World Boxing Association (WBA) super flyweight belt held by Joshua Franco, but the WBA has already ordered Franco to fight former WBA champion Andrew Moloney of Australia this year. Josef Ramos

Jerwin “Pretty Boy” Ancajas will be trying to align his stars this year.

Hotshots need more big men

MARK BARROCA wants Magnolia to return to the finals this season.

By Josef ramos

ETERAN guard Mark Andy Barroca feels Magnolia needs more reliable big men to address the team’s weakness in the shaded area. “I think we need additional big men although our bigs are doing okay. But injuries are our problems. We only have a few big men. Our forwards are forced to play the middle,” the 34-year-old former Far Eastern University combo guard told BusinessMirror on Wednesday. Magnolia’s starting center Jean Marc Pingris, 39, missed the Philippine Basketball Association Philippine Cup bubble because of a nagging calf injury, while 6-foot-8 veteran center Rafi Reavis has not gotten any younger at 43. Their

Nadal, Djokovic eye records

HEN the 2020 men’s tennis season ended at the Association of Tennis Professionals (ATP) Finals, Rafael Nadal captured a common sentiment that still holds true as the 2021 tennis season is

RAFAEL NADAL says it all in a nutshell. AP

set to begin this week. “The world is suffering a lot, so we are very lucky that we can play tennis,” Nadal said in

London in November. “That’s the real feeling that I have.” After an off-and-on, pandemicaltered year for the sport, coronavirus questions and an ever-evolving calendar still will be key parts of the conversation as things get going with maindraw action Wednesday at the Abu Dhabi Women’s Tennis Association (WTA) Women’s Tennis Open, where Sofia Kenin leads the field, and Thursday at the ATP’s Delray Beach Open, where last year’s champion, Reilly Opelka, withdrew, citing an injured knee.

starting center, 6-foot-7 Ian Sangalang, carries much of the load. The Hotshots remain a blue chip team, having been in the finals twice in 2018 and 2019. But they were booted out in the shortened 45th season by Phoenix Super LPG in the quarterfinals. “I am hoping this coming conference we return to the finals. It’s just the injury problem,” added Barroca, who is expected to sign up a maximum contract (P420,000 per month) extension with Magnolia soon. “I will stay with Magnolia and our goal is to get back with Magnolia,” said Barroca, who averaged 10.7 points, 3.8 rebounds, 4.2 assists and 2.2 steals in 11 games in the bubble conference. Besides Barroca, Kyle Calisaan, Reavis, Michael Pascual and Rome dela Rosa are the other Hotshots with expiring contracts. The PBA intends to open the season in April, but no longer in a bubble environment. Opelka joined several players—a group that includes Andy Murray, Kei Nishikori and Milos Raonic—in pulling out of the hard-court tournament held last February and pushed to early January this time as part of a shuffling on both professional tours. The scheduling changes include the start of the year’s first major championship, the Australian Open, delayed three weeks to February 8, and the joint event played at Indian Wells, California—canceled last year because of the Covid-19 outbreak—giving up its usual March dates without a new spot for it on the schedule as of now. There are some significant milestones in the offing for stars such as Nadal, Novak Djokovic and Serena Williams in 2021. Nadal can break a tie with Roger Federer for the most Grand Slam singles titles for a man after matching him with No. 20 at the French Open in October; by March, Djokovic can surpass Federer’s record for most weeks at No. 1 in the ATP rankings; Williams is one Slam singles trophy away from No. 24, which would equal Margaret Court for the most in the sport’s history. AP