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BANK LENDING GROWTH REMAINS AT NEAR ZERO www.businessmirror.com.ph

Friday, January 15, 2021 Vol. 16 No. 96

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

OFWs send home more money amid pandemic

See “BSP,” A2

PRESIDENT Duterte leads the inauguration on Thursday, (January 14) of the 18-kilometer Metro Manila Skyway Stage 3 from Buendia, Makati City, to Balintawak, Quezon City, connecting the South and North Luzon Expressways. The elevated expressway is a key plank of efforts to decongest Edsa—one of 25 such projects, said Public Works and Highways Secretary Mark A. Villar. Seen at the inauguration are (from left): Senator Christopher Lawrence “Bong” T. Go, Executive Secretary Salvador C. Medialdea, House Speaker Lord Allan Q. Velasco, Duterte, San Miguel Corp. President Ramon S. Ang, Villar and Transportation Secretary Arthur P. Tugade. See related story, “Ang: Game-changing Skyway 3 now open,” in Companies, page B1. PHOTO COURTESY OF DPWH

By Bianca Cuaresma

ESPITE the Bangko Sentral ng Pilipinas’s (BSP) aggressive rate cuts to boost the economy through lending, bank lending growth almost ground to a halt in November 2020 as restrictions and uncertainty on the future of the global health crisis continue to dampen economic sentiment in the country.

‘GAINS IN REOPENED ECONOMY OUTWEIGH COVID RISK’ By Cai U. Ordinario

EASONS to open up the economy far outweigh those that require it to be kept closed, according to the National Economic and Development Authority (Neda). The pronouncement came after the Department of Health (DOH) reported on Wednesday that the new Covid-19 strain that originated in the United Kingdom has already reached Philippine shores. In a presentation, Socioeconomic Planning Secretary Karl Kendrick T. Chua said shutting down 75 percent of the economy has led to hunger, poverty, joblessness, and an increase in non-

Covid-related deaths. “Neda and the economic team have already recommended this and many were already approved in October. We continue to monitor the economy and health situation to find a better balance to further open the economy,” Chua told BusinessMirror on Thursday. In his presentation at the Financial Executives Institute of the Philippines (Finex) National Economic Recovery Forum, Chua said shutting down 75 percent of the economy requires a difficult balancing act since a “far majority” face hunger and other diseases during a lockdown. Continued on A2

CHUA: “In the end, someone will have to make a decision, and that decision is not going to be perfect. That will have trade-offs, nothing is free, I cannot provide everyone a solution but this is the reality and this is what public policy is really about.”

BSP data released on Thursday showed that bank lending reached its eighth consecutive growth deceleration to near zero in November at 0.3 percent. In comparison, the preCovid bank lending growth rate was at 13.6 percent in March 2020. Theoretically, central banks use interest rate cuts to boost the economy as the lower interest rates translate to the market as lower financing

costs, thereby creating an encouraging environment for borrowing and investment. The BSP has aggressively cut its interest rates for the year to support the economy. In total, the Central Bank has already cut its rates by 200 basis points—25 basis points in February, 50 basis points in March, another 50 basis points in an offSee “Bank,” A2

ILIPINO migrant workers continued to send more money back home in November last year despite the ailing global economic health brought about by containment measures for the pandemic, prompting the Central Bank chief to hail them for their “altruistic motives.” Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno reported that cash remittances are continuously closing the gap between the pre-Covid volume of remittances to the volume of money sent home in 2020. Diokno said November cash remittances grew 0.3 percent to $2.379 billion in November 2020 from $2.372 billion in November 2019. Broken down, cash remittances from land-based workers rose by 0.5 percent to $1.852 billion, while that of sea-based workers declined by 0.2 percent to $527.3 million. This pushed the cash remittance stock of the Philippines for the first 11 months of 2020 to $27.013 billion, representing a decrease of 0.8 percent from the $27.231 billion registered in the comparative period in 2019. Remittance to the Philippines started contracting on a cumulative basis in April 2020 with a 3-percent decline from the previous year’s total remittances. This peaked in May when the total fivemonth remittances were already down 6.4 percent from the same January-to-May remittance level in 2019. The gap started to narrow since and has been registering a monthly growth output since June with the exception of August. The outlier performance of remittances in a period when the global economy is down and job cuts are rampant was attributed to the “altruistic” nature of Filipino migrant workers. “Thanks to our overseas Filipinos who I think, basically because of their altruistic motives, continued to send remittances to their families back home knowing that we have problems at home,” Diokno said. By country source, cash remittances from Saudi Arabia, Japan, the United Kingdom, the United Arab Emirates, Germany and Kuwait declined, while those from the United States, Singapore, Qatar, Oman, Hong Kong and Taiwan increased. The US posted the highest share of the total remittances at 40.1 percent, followed by Singapore, Saudi Arabia, Japan, the UK, the UAE, Canada, Hong Kong, Qatar and Korea. The combined See “OFWs,” A2

PESO EXCHANGE RATES n US 48.0490

n JAPAN 0.4627 n UK 65.5436 n HK 6.1973 n CHINA 7.4286 n SINGAPORE 36.2224 n AUSTRALIA 37.1515 n EU 58.4180 n SAUDI ARABIA 12.8086

Source: BSP (January 14, 2021)

News BusinessMirror

A2 Friday, January 15, 2021

Bank… Continued from A1

schedule Monetary Board meeting in April, a further 50-basis-point cut in June and the latest 25-basis-point cut in November. Despite this, bank lending growth continued to sink through 2020. November’s 0.3-percent bank lending growth rate is a further deceleration from the 1.8-percent growth rate in October. “Bank lending growth waned during the month as the Covid-19 crisis continued to dampen consumer spending and business activity,” the BSP said. Broken down, loans for production activities grew by 0.5 percent in November from a 2-percent growth in October as outstanding loans to key industries declined further, particularly wholesale and retail trade and repair of motor vehicles and motorcycles, with a contraction of 6 percent, and manufacturing, with a 4.2-percent contraction.

Loan drivers

MEANWHILE, the following sectors contributed to the overall increase in production loans: real-estate activities growing by 5.2 percent; electricity, gas, steam and air-conditioning supply at 2.7 percent; human health and social work activities at 45.3 percent; transportation and storage at 8.1 percent; and information and communication at 6.5 percent. Consumer loans also grew at a lower rate of 7.1 percent in November from 7.9 percent in October. This, as individual borrowers decreased their credit card loans and motor vehicle loan availments during the month. Bank lending brought the money supply growth of the Philippines to P13.7 trillion in November, up 10.5 percent from the previous year. This is also a slowdown compared to the 11.6-percent growth seen in the previous month. Speaking in the First Metro Investment Corp.’s (FMIC) annual economic briefing on Thursday morning, University of Asia and the Pacific (UA&P) economist Victor Abola said banks’ reluctance to lend, especially to corporations, will drag on until lenders see an upward trend in local corporations’ production and performance numbers. “I think it’s due primarily to the bank’s risk aversion. They’ve been very careful in order to preserve not only their liquidity but to make sure that they would be able to face up for any eventuality,” Abola said. “And it’s not a lack of demand. The consumer firms, particularly, are willing to borrow except that they have had to pass through more rigid screening by the bank. What will convince the banks [to lend]? When they see that the companies that are trying to borrow from them [have] their production is going up on a month-to-month basis and a yearon-year basis,” Abola said.

More rate cuts

SINCE bank lending continues to be weak, the BSP will likely be inclined to cut its policy rates further in the first quarter of this year, especially as the expected tamer inflation numbers and still negative economic growth rates give them room to do so. “The BSP will tend to be accommodative [in 2021]. They had to stop because of the spike [in inflation] but as soon as the fourth quarter GDP comes out, which will be negative, there will be a reason to ease up further,” Abola said. “We are looking at a 25-basispoint cut in policy rates and/or a cut in reserve requirement ratio (RRR),” he added. The economist said the BSP’s cut will likely materialize in as early as the first quarter of 2021. The data points that the BSP will be looking at are an inflation below 2.5 percent and a negative GDP growth rate. In a press briefing Thursday afternoon, BSP Governor Benjamin Diokno said they will continue to be “data-dependent” in the monetary policy formulation, but reiterated that they will continue to keep the monetary policy accommodative “for as long as the economy has not fully recovered, or on the way of recovery.” The BSP Monetary Board is expected to have ita first monetary policy setting meeting for the year on February 8.

www.businessmirror.com.ph

Ecozone investments drop by a fifth to ₧95B in 2020

By Elijah Felice Rosales

NVESTMENTS made in economic zones dropped by nearly a fifth last year to barely P95 billion, as the Covid-19 lockdowns prevented investors, especially Filipinos, from opening up new factories and expanding their existing plants.

The Philippine Economic Zone Authority (Peza) on Thursday disclosed that registrations it approved last year declined 19.15 percent to P95.03 billion, from P117.54 billion in 2019. Bulk of the fresh investments came from foreign sources, as domestic firms held on to their capital in the peak of the Covid-19 pandemic. Broken down, foreign investments jumped more than 21 per-

cent to P59.73 billion, from P49.26 billion, while local inflows plunged over 48 percent to P35.3 billion, from P68.29 billion. Overall, the 2020 investments in economic zones translated into 326 projects, from 540 in 2019. The manufacturing sector obtained 217 of these new projects, while the information technology and business process management industry secured the remaining 109.

The Peza identified the United States, European economies United Kingdom, Belgium, Ireland and Spain, and Asian countries China, South Korea, Singapore, Saudi Arabia and Taiwan as the largest sources of foreign capital last year. As for location, 146 of the new and expansion projects will be put up in Southern Tagalog, while 74 of them will be built in Metro Manila. As part of the government’s policy to attract investors to the countryside, tens of operations will also be situated in the rural areas: 39 in Central Visayas, 34 in Central Luzon and 33 in the rest of the regions. With the 19-percent decline last year, the Peza marked its third consecutive year of double-digit drop in investment registrations. In 2019, investments applied with the agency slipped by over 16 percent to P117.54 billion, from P140.24 billion in 2018, on uncertainties brought about by the move to reform the tax structure. The Peza, backed by industry groups, had tried to block the passage of the Cor-

porate Recovery and Tax Incentives for Enterprises (CREATE) Act. Now awaiting the deliberations of the bicameral conference committee, the CREATE Act brings down corporate income tax to 25 percent, from 30 percent, and lifts the fiscal incentives granted to investors to introduce new ones. In a statement, Peza Director General Charito B. Plaza said her agency remains committed to its mandate to secure investments, produce exports and create jobs in spite of the challenges in shifting to the new normal. The hope this year is to attract investments to the shore to help the economy recover from all the losses it squandered to the pandemic, she added. Likewise, Plaza thanked the investors who chose to maintain their operations in the Philippines even in the most trying of times. Economic zones, which the Peza regulates, employ about 1.6 million workers nationwide. They also contribute a huge sum to the country’s export total.

ILO CITES WOES OF DIGITAL HOME-BASED WORKERS D IGITAL home-based workers in the country are mostly well-educated, but suffer substandard work benefits, according to a new report from the International Labor Organization (ILO). In its “Working from home: From invisibility to decent work” report, ILO said 61 percent of 300 Filipino homebased workers it surveyed hold a bachelor’s degree. They are mostly engaged in data entry, general virtual assistance, information technology and micro-tasks. Only about 40 percent of them have a single client; the rest have multiple clients since they handle subcontracted tasks. The said workers are usually compelled to juggle their work as well as household chores. This tend to be burdensome, particularly for women, since they are usually delegated such chores at home.

“When the job order is big and turnaround time for delivery is short, women work through the night with little rest, sometimes for several nights in a row,” ILO said in a statement.

Home-based disadvantages

WHILE these workers remain covered by pertinent laws such as the Labor Code, Child and Youth Welfare Code, and the Minimum Wage law, they suffer disadvantages compared to their officebased counterparts such as not being able to actively register with the Social Security System (SSS) and Philippine Health Insurance Corp. (PhilHealth). “Among the 85 homeworkers interviewed for an ILO-commissioned study in 2019, only 22 percent were currently covered by the national social security system—mostly because they were covered through a spouse, parent or child,” ILO said. “A bigger proportion (60 percent)

were covered by PhilHealth (the national health insurance system). The rest were covered by the government under a conditional cash transfer program or other schemes,” it added. Home-based workers are also mostly unorganized due to low awareness of their labor rights and must personally pay for their training to improve their skills. They also have to deal with unregulated practices such as their employers requesting they “redo work without any supplementary payment if it is improperly executed.”

Pandemic impact

ILO urged countries including the Philippines to pass laws to address such employment concerns of digital home workers especially since their numbers are expected to increase with the onset of the novel coronavirus disease (Covid-19) pandemic last year.

Based on its estimates, ILO said there were already 260 million homebased workers worldwide before the pandemic. “Homeworking is often poorly regulated and compliance with existing laws remains a challenge. In many instances, homeworkers are classified as independent contractors and therefore excluded from the scope of labor legislation,” ILO said. Here in the Philippines, ILO recognized pending legislations, which aim to provide additional protection for home-based workers such as fixing of adequate piece-rate wages. It also pointed out the pending local bill, which imposes penalties on employers if they will violate the terms of their contract with home-based workers. ILO welcomed such initiatives, which aim to formalize the work conditions of the said sector.

Samuel P. Medenilla

Key House blocs back Cha-cha to amend economic provisions Continued from A10 Velasco had earlier instructed Garbin’s panel to open discussions on amending the economic provisions of the Constitution, as stated in RBH No. 2. Velasco said these “restrictive” economic provisions, which hamper the flow of foreign capital investments, must be lifted to support the country’s economic recovery from Covid-19. He said foreign investments play a crucial role in the economy by supporting domestic jobs and the creation of physical and knowledge capital across a range of industries. RBH No. 2 specifically aims to amend certain economic provisions of the Con-

stitution, particularly Articles XII (National Patrimony and Economy), XIV (Education, Science, Technology, Arts, Culture and Sports) and XVI (General Provisions). The measure seeks to insert the phrase “unless otherwise provided by law” to several sections of the Constitution, which restrict foreign ownership of land, natural resources, public utilities, educational institutions, media and advertising.

Disadvantageous

MEANWHILE, House Deputy Minority leader and Bayan Muna Rep. Carlos Isagani Zarate warned that the proposed Charter change would be very disadvantageous to consumers, national minorities and na-

tional patrimony in general. “We could be bracing ourselves for a tidal wave of onerous contracts similar to or even worse than the now highly publicized scandalous deals with Maynilad and Manila Water,” said Zarate, as he expressed his apprehension on the approval of proposed constitutional amendments that include giving Congress the power to lift restrictions on foreign ownership, a policy expressly laid down by the Filipino people in the 1987 Constitution. He said this proposed “unbridled authority” would be granted to Congress by the introduction of the phrase “unless otherwise provided by law” on economic provisions in the Constitution that limit the participation of foreign investors.

“We’ve already seen the detrimental effects of opening up public service to business interest, and now they want to do it on a grander scale, involving foreign businesses,” said the progressive solon. According to the lawmaker, areas to be potentially opened to full foreign participation and ownership are in the use of land and natural resources, use of marine wealth, control of public utilities, mass media and advertising, and educational institutions, among others. “If this amendment gets through we would see our public services turned into super-profit generating, 100-percent foreign-owned enterprises. We would be fully at their mercy,” said the Davao-based solon.

Jovee Marie N. Dela Cruz, Butch Fernandez

OFWs… Continued from A1

remittances from these countries accounted for 78.6 percent of the total cash remittances. Despite being in the growth territory, November’s remittance growth of 0.3 percent is still lower compared to the previous month’s 2.9-percent growth. ING Bank economist Nicholas Mapa said the tamer growth of remittances may be a result of a recent depletion in the stock of overseas Filipinos working abroad. Mapa, however, said that the steady remittance support has been crucial in 2020 as recession grips the Philippine economy. “Steady remittances coupled with implosion of import demand, lending support to the Philippine peso amidst the weak global US dollar narrative,” Mapa said. “2021 could see a continuation of the trend of modest remittance gains although import demand may improve marginally, bouncing from the low base of 2020,” he added. Bianca Cuaresma

Govt sets H1 goal: Give 5-M doses of Covid vaccine Continued from A10

Sinovac seeks EUA ALSO on Thursday, Food and Drug Administration (FDA) Director General Enrique Domingo said that China’s Sinovac has applied for emergency use authorization (EUA) for its Covid-19 vaccine on January 13, 2021. Earlier, some senators questioned the government’s entering into a deal with China’s Sinovac prior to its application of an EUA. However, Galvez explained that there was a “term sheet” that allowed them to “lock-in” vaccine doses from the company. On Thursday, Domingo said that of the applicants, only Pfizer-BioNTech Covid-19 vaccine had received the FDA’s approval for an EUA for now. Evaluation of AstraZeneca Pharmaceuticals Covid-19 vaccine is ongoing.

Related story in News, page A3.

Domingo said the EUA application for Sputnik V developed by Gamaleya National Center of Epidemiology and Microbiology-Ministry of Health Russia was received on January 7, 2031. The decision, according to Domingo, is set to be released within 21 calendar days “upon filling of application.” Galvez on Wednesday reiterated that the government maintains a portfolio of vaccines which contains all the brand names and manufacturers of vaccines that are under development. From this portfolio, the government identifies the companies it will negotiate with. “Finding ways to address this health crisis has been very challenging, not just for the Philippines but for countries all over the world. With almost 2 million deaths globally, around 10,000 of which come from our country, our efforts to lower our mortality rate has remained among our main priorities. Hence, despite the limited supply and massive global demand for the vaccines, we were able to negotiate and secure over 100 million vaccine doses at a lower price or the same price offered to the Covax facility,” he lamented. He reiterated that only FDA-approved vaccines, whether for an EUA or for clinical trials, will be used to inoculate Filipinos. Regardless of brand names or country origin, he said, “all vaccine candidates will undergo the same rigorous regulatory review procedures.” Samuel P. Medenilla, Claudeth Mocon-Ciriaco

‘Gains in reopened economy outweigh Covid risk’ Continued from A1

Neda said as of January 11, 2021, the country’s total Covid-19 cases reached 489,736, while active cases are at 22,114. Of the active cases, severe or critical cases account for 2,123. Covid-19-related deaths have reached 9,416 as of Monday. Meanwhile, Chua said that with the economic shutdown, 23.7 million Filipinos went hungry and 4.5 million joined the ranks of the poor. A total of 2.7 million Filipinos became unemployed and some 438,809 Filipinos died between January and October 2020, due to non-Covid-19 reasons. He noted that based on data from the PSA, between January and October 2020, only 5,746 Filipinos died due to Covid-19, while 100,676 Filipinos died of other causes. This is on top of the 78,850 who died due to ischemic heart diseases; 50,195 deaths caused by neoplasms or cancers; and 43,182 deaths due to cerebrovascular diseases.

Chua added that 29,638 Filipinos died of diabetes mellitus; 27,684 died of hypertensive diseases; and 26,219 of pneumonia. “In the end, someone will have to make a decision and that decision is not going to be perfect. That will have trade-offs, nothing is free, I cannot provide everyone a solution but this is the reality and this is what public policy is really about,” Chua said on Thursday. Chua also told the BusinessMirror that a decision on opening up the economy will have to be assessed when the fourth-quarter and full-year 2020 GDP growth is released. In two weeks, the Philippine Statistics Authority (PSA) will be releasing the latest National Income Accounts (NIA) for the fourth quarter of the whole of 2020. He added that in light of the new strain of Covid-19 arriving in the country, a decision to implement stricter mobility restrictions will all depend on how

well the country would be able to contain the spread. This means, Chua said, the government will have to consider data such as the rise in the number of cases as well as the capacity of hospitals, particularly the availability of hospital beds. However, University of Asia and the Pacific economist Victor A. Abola said one of the caveats is the “bias” of the national government to impose lockdowns. In an e-mail to the BusinessM irror , Abola cited the International Monetary Fund’s and the World Bank’s opinion that lockdowns are expensive and unsustainable. He added that subsidies extended by governments are also costly and will not contribute to long-term growth. Abola said government spending should be directed toward “good short-term and long-term benefits.” The quarantines, Abola said, “should be more focused at the baran-

gay—or even smaller unit—level, easier to control and cheaper to subsidize.”

Silver lining

FIRST Metro Investment Corporation (FMIC)-University of Asia and the Pacific (UA&P) Capital Market Research said the economy can recover this year and is expected to return to positive territory. The think tank said GDP is projected to grow 5.5 percent to 6.5 percent this year. This is a rebound from the expected contraction of 9 percent to 10 percent in 2020. The rebound will be driven by overseas Filipino worker (OFW) remittances which are expected to grow 4 percent to 6 percent this year while government spending is also expected to increase this year. Government spending is expected to finance its program of Reset (health), Rebound (infra), Recover (skills upgrading), as well as its market reform initiatives (Bayanihan 2, GUIDE,

FIST, and CREATE) designed to reinvigorate the economy. The think tank also expects growth to be boosted by a “mild inflation rate” pegged at 2.7 percent, as well as the completion of big-ticket infrastructure projects. These projects include the Metro Manila Subway, North Rail, SLEX-Extension, NLEX-East, MRT-7, and Connector-2, which will help ease traffic conditions in Metro Manila. They also said the rollout of the vaccine and a more focused and localized restriction will likewise improve the country’s economic performance in 2021. Abola added that coronaviruses are known to dislike hot and humid weather. Coronaviruses may be more virulent, but less deadly. He added that death rates due to Covid-19 have been on the decline since medical personnel have been successful in understanding the true nature of the disease.

www.businessmirror.com.ph

The Nation BusinessMirror

A ‘Spice Boys Act:’ Cayetano defends brand of new group This is not one bloc. This is a number of blocs coming together.... Whenever Congress drops the ball, we will be there to help carry the ball. Taguig-Pateros Rep. Alan Peter Cayetano By Jovee Marie N. Dela Cruz @joveemarie

ED by former Speaker and Taguig-Pateros Rep. Alan Peter Cayetano, a new “independent majority bloc” has emerged in the House of Representatives “created to help the government on its Covid-19 response.” At a news conference, Cayetano said his group called “BTS,” means two things: “Back to Service Congress” and “Bayanihan, Tapang, Serbisyo [cooperation, courage, service].” His group, he said, will hear people in different parts of the country and provide them with information on the Covid-19 vaccination program, anti-poverty and price control initiatives of the government. “This is not one bloc. This is a number of blocs coming together... Whenever Congress drops the ball, we will be there to help carry the ball,” he said. Cayetano is pushing for the creation of vaccine passports, or certificates, which are already being used in some countries, including Bahrain where Filipinos have been showing photos online. “We also have to keep in mind that this is more than just a public health initiative. It is a key element in bringing back public confidence and reviving the economy,” Cayetano said. For his part, Camarines Sur Rep. Luis Ray Villafuerte said their group was created as the current leadership is preoccupied with political issues other than helping the government in the Covid-19 response. But Cayetano stressed that, “This is not about any leadership position. We are happy where we are. But the people are not happy. Anything that they [the current leadership] do that will help the people, we will support it. We’re here to help.” The new bloc, meanwhile, asked

Editor: Vittorio V. Vitug • Friday, January 15, 2021 A3

FDA clears Pfizer-BioNTech vaccine for emergency use Evaluation

By Claudeth Mocon-Ciriaco Correspondent

Speaker Lord Allan Velasco to probe the vaccination program of the Duterte administration. Cayetano said the House, under the leadership, may had become too much focused on politics as evidenced by current moves to amend the Constitution, “but that’s an example of fair criticism.” He said this is what prompted the seven lawmakers to form the new bloc, which he said is similar to the so-called Spice Boys in Congress who were openly critical of the administration of President Joseph Estrada. “Because [the House] has turned to politics, it has gotten a little lazy, it is focusing on political issues, it has turned into traditional politics again. Instead of being the House of the People, it has turned into the House of Politics,” he added. Meanwhile, Cayetano said the transformation of the House of Representatives from the “House of the People” to the “House of Politics” prompted him and six other lawmakers to form “BTS sa Congress”—a new group that aims to bring back service to the heart of legislators. Cayetano admitted that using BTS was intended to “get people’s attention” since it is also the name of the South Korean boy band considered to be the biggest musical act in the world today. The choice of BTS had received a backlash from fans—who call themselves the Army—who do not appreciate the boy band’s name being used by politicians. Cayetano, however, said the group does not mean any offense to fans. Besides Cayetano and Villafuerte, other members of the BTS are Rep. Michael Defensor of Anakalusugan, Rep. Jose Antonio Sy-Alvarado of Bulacan, Rep. Raneo Abu of Batangas, Rep. Fredenil Castro of Capiz, and Rep. Danilo Ramon Fernandez of Laguna.

FTER a thorough review of their application, the Food and Drug Administration (FDA) has granted Emergency Use Authorization (EUA) to Pfizer-BioNTech Covid-19 vaccine as its interim data from the ongoing Phase 3 trial showed that the vaccine has an efficacy of “95 percent” in the study population and at least “92 percent” among all racial groups. In a media forum of the Department of Health (DOH), FDA Director General Enrique Domingo said that after careful consideration, the application of Pfizer satisfies the conditions of an EUA: 1. Based on the totality of evidence available to date, including data from adequate and well- known controlled trials, it is reasonable to believe that the Pfizer-BioNTech Covid-19 Vaccine may be effective to prevent, diagnose, or treat Covid-19; 2. The known and potential benefits of the Pfizer-BioNTech Covid-19 Vaccine, when used to diagnose, prevent, treat Covid-19, outweigh the known and potential risks of said vaccine as of date; and 3. There is currently no adequate, approved and available alternative to the product for diagnosing, preventing or treating Covid-19.

Scope

AFTER the granting of the EUA, Domingo said the vaccine maker must undertake the following: First, Pfizer Inc. (Philippines) shall supply Pfizer-BioNTech Covid-19 Vaccine only to emergency response stakeholders consistent with the terms and conditions of the EUA, including Department of Health (DOH), or the National Task Force Against Covid-19 (NTF), or their designees authorized to procure Pfizer- BioNTech Covid-19 Vaccine in line with the Covid-19 vaccination program. Designees may include hospitals (public and private), health facilities of other national government agencies, local government units (LGUs) and other members of

the private sector. Second, Pfizer- BioNTech Vaccine shall be administered only by vaccination providers, and used only to prevent Covid-19 in individual ages 16 and older. Domingo also reminded the firm to comply with Current Good Manufacturing Practice (GMP) requirements. Pfizer Inc. (Philippines) shall also submit to the FDA quarterly manufacturing reports of the Pfizer-BioNTech Covid-19 Vaccine.

Cold chain management

IN the absence of agreement with the DOH or NTF, Pfizer Inc. (Philippines) was required to provide appropriate cold chain requirements for storage, transport and handling until it is delivered to the inoculation sites and ensure that a contingency plan is in place. Pfizer Philippines was, likewise, bound to ensure it has a system of monitoring to ensure traceability and that the vaccine is consistent with the storage requirements from the manufacture and transport to the inoculation sites. Meanwhile, the Emergency Response Stakeholders and Vaccination Providers were also given marching orders. Emergency response stakeholders shall: 1. Identify vaccination sites to receive the Pfizer-BioNTech Covid-19 Vaccine and ensure appropriate storage and cold chain

management is maintained; 2. Ensure administration of the Pfizer-BioNTech Covid-19, consistent with the terms of the FDA Letter embodying the EUA, latest updated product information and the Covid-19 Vaccination program; and 3. Ensure that vaccination providers of their procured Pfizer-BioNTech Covid-19 Vaccine are aware of the FDA Letter of Authorization and its terms herein and any subsequent amendments. Vaccination providers, on the other hand, were mandated to: 1. Administer the Pfizer-BioNTech Covid-19 Vaccine, in accordance with this EUA, and participate and comply with the terms and training required by the DOH for the Covid-19 Vaccination Program; 2. Provide fact sheets to the recipients and caregivers and provide necessary information for receiving their second dose; 3. Obtain written informed consent from the recipient of the Pfizer-BioNTech Covid-19 Vaccine prior to vaccination; 4. Report any adverse events following immunization on the use of Pfizer- BioNTech Covid-19 Vaccine. Domingo said the EUA shall be valid only “within the duration of the declared public health emergency” due to Covid-19, or upon issuance of a marketing aut hor i z at ion /Ce r t i f ic ate of Product Registration.

THE FDA official said that the evaluation was based on current available data and that the assessment ensured that the benefits outweigh the known and potential risks of the product. According to Domingo, the safety and efficacy were reviewed by a panel of clinical experts and the quality data was reviewed by technical experts from FDA Center for Drugs Regulation and Research (CDRR). Adverse events following immunization shall be closely monitored. Domingo noted that, “The rollout of the vaccine and use in more than 5 million people worldwide has identified severe allergic reaction in a few individuals.” As such, he added, “The vaccinations must be done by health professionals trained to recognize and manage adverse reactions and they should have resources at hand to adequately respond.” Reporting of the patient’s response to the vaccine shall be through the pharmacovigilance system, to be activated once the vaccination program is implemented. Through Executive Order 121, Series of 2020, vaccines under development may be granted an EUA where there is no adequate, approved and available alternative to a vaccine for preventing Covid-19 during this present public health emergency. The granting of the EUA is not a marketing authorization, or a Certificate of Product Registration, and thus cannot be used to market the vaccine commercially, the FDA pointed out. Domingo assured the public that FDA is committed to continue its job to ensure that Filipinos can have access to vaccines that hold greater benefits and outweigh the risk and possible adverse effects during this time of pandemic. “The development of these vaccines is still ongoing. We will keep track of the progress and FDA will provide our public with the correct information on the authorized products for transparency, to aid the decision-making of Filipinos,” Domingo said.

Peralta’s application for early retirement Group seeks deportation of Taiwanese approved as SC opens nomination for CJ vlogger for alleged violation of visa rules By Joel R. San Juan

@jrsanjuan1573

HE Judicial and Bar Council has announced that the application and nomination for the next Chief Justice is now open after Chief Justice Diosdado Peralta’s application for early retirement was granted by the Court. Peralta last year informed his fellow magistrates of his decision to cut short his term which was supposed to end when he reaches the mandatory retirement age of 70 on March 27, 2022. The Chief Justice, however, opted to vacate his seat this coming March, or one year earlier. JBC’s search for the next Chief Justice was announced in its web site, which also stated that the deadline for the application and nomination

would be February 15. As a precaution against the spread of coronavirus 2019 (Covid-19), the filing of applications would be done online. The council said interested applicants should visit their web site and access the Online Application Scheduler not later than the deadline, from 8 a.m. until 12 midnight. It is expected that the five most senior associate justices of the SC will get an automatic nomination for the post. They would, however, have to write the JBC accepting their nomination. Following his appointment as chief magistrate in October 2019, Peralta rolled out his 10-point program which included the creation of a security system for the judiciary to address the killings and other

forms of violence committed against the members of the judiciary. His other plans include the elimination of backlog in the SC and in the other courts; the setting up of a judicial integrity board; the establishment of a 24/7 help desk in the Office of the Chief Justice and other offices for court users; to improve the security of justice, judges, and Halls of Justice and to improve the procurement and bidding processes to fast-track implementation of projects and create a strategy Planning Management Unit for monitoring and evaluation of projects. Peralta also allowed the full implementation of videoconferencing in all courts to hear and resolve criminal and civil cases while the country is in a state of public health emergency due to the Covid-19 pandemic.

HE Bureau of Immigration (BI) has been asked to deport a famous Taiwanese vlogger and social-media influencer for selling cosmetic products that are unregistered with and deemed hazardous by the Philippine Food and Drug Administration (FDA). The deportation of vlogger YunI-Wong, popularly known as Winnie Wong and Penelope Pop, was sought by the Action for Consumerism and Transparency (ACTION) in a letter sent to the BI’s Board of Special Inquiry chaired by Ronaldo Ledesma. ACTION Secretar y- General Vito Gaspar Silo said it anchored its complaint against Wong on media reports, indicating that the vlogger is only staying in the Philippines using a Special Investors Residence Visa.

Despite this, however, Wong managed to get jobs in the Philippines as an endorser. She also started a venture as a retailer, which is not allowed in the conditions set for her visa. Worse, the group said, Wong’s company, TGWW, which she founded with a local actress, has been accused of selling a cologne line called “Pouf!” which was the subject of an FDA public warning advisory last week for containing potential health hazards such as “heavy metals.” “The media also discovered that TGWW is operating without an FDA license [they are only registered to sell notebook, bags and toiletries] and that they are using Wong’s home address located in #7 North Park Kawayan Street, Forbes Park, Makati as base of operations,” Silo wrote.

Just last week, the FDA warned the public not to buy Pouf! because post-marketing surveillance shows the product has no valid Certificate of Product Notification. “Potential hazards may come from ingredients that are not allowed to be part of a cosmetic product or from the contamination of heavy metals. The use of substandard and possibly adulterated cosmetic products may result to adverse reactions including, but not limited to, skin irritation, itchiness, anaphylactic shock and organ failure,” the FDA said in its Advisory 2020-2188. FDA Director General Eric Domingo said selling cosmetic products without government license and registration could be criminally charged for violation of Republic Act 8711, or the FDA Act of 2009. Joel R. San Juan

Roque’s ‘picky’ remark on vaccination draws flak from House minority leader

HE minority leader of the House of Representatives on Thursday urged Malacañang to censure Presidential spokesman Harry Roque for “uttering insensitive and arrogant” statements. “We are in the midst of a pandemic and the least that we can expect from our government’s statement to the sentiments of the people is compassion,” said House Minority

Leader Joseph Stephen “Caraps” Paduano. In justifying the decision to procure Covid-19 vaccines from China, Roque said the Filipinos cannot be picky with the brand of vaccine that will be given them through the government’s inoculation program. “The remarks of Roque reeks of insensitivity and arrogrance,”

Paduano said. “Gaano ba kahirap magpakita ng simpatya sa panahong ito? The least we can expect from him is to show remorse, and yet, none is coming,” the Abang Lingkod lawmaker lamented. Citing Section 4, Paragraph C of the Code of Conduct and Ethical Standards for Public Officials and Employees (RA 6713), which states

that “public officials and employees must act with justness and sincerity and shall not discriminate against anyone, especially the poor and the underprivileged,” Paduano said, adding that “resorting to ad hominems directed at our constituents clamoring for better public service may be considered a violation of our oath of office.” At the end of the day, he said it is

the Food and Drug Administration that will determine the right vaccines that should be made available to Filipinos, not Roque. Earlier, Roque said Filipinos who refuse to be part of the first batch of beneficiaries of the government’s vaccination drive for Covid-19 may no longer be prioritized for the said program. “They should not be picky be-

cause there are so many Filipinos, who need to be injected [with the vaccine],” Roque said. The government earlier announced 35 million people will be included in its “priority list” for the vaccination program. These will include frontline health workers, senior citizens, indigent population, and government uniformed personnel. Jovee Marie N. Dela Cruz

BusinessMirror

Friday, January 15, 2021

Republic of the Philippines

DEPARTMENT OF LABOR AND EMPLOYMENT Regional Office No. IV-A 4th Flr. Andenson Bldg. II, Brgy. Parian, Calamba City Telefax No.: (049) 545-7362 January 15, 2021

NOTICE OF FILING OF APPLICATION FOR ALIEN EMPLOYMENT PERMIT (AEP) Notice is hereby given that the following employers have filed with this Regional Office application/s for Alien Employment Permit/s. Name and Address of Company/Employer

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Name and Citizenship of Foreign National

Position/s

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MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Mr. MINWEI PENG / Chinese

Chinese Customer Service

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Mr. SANE KYI TWAN / Burmese

Chinese Customer Service

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Mr. XIAOJIE JI / Chinese

Chinese Customer Service

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Ms. PING LI / Chinese

Chinese Customer Service

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Mr. CHANGLONG LAN / Chinese

Chinese Customer Service

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Mr. YUQI CHEN / Chinese

Chinese Customer Service

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Mr. HU LIU / Chinese

Chinese Customer Service

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Mr. HONGZHOU XUE / Chinese

Chinese Customer Service

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Mr. FEI HU / Chinese

Chinese Customer Service

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Ms. LING DENG / Chinese

Chinese Customer Service

Mr. HONGBIN WANG / Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. LIQIANG XU / Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Ms. DONGXIAO XIAO / Chinese

Chinese Speaking Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Ms. ERJIAO LI / Chinese

Chinese Customer Service

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Mr. XIFU WU / Chinese

Chinese Customer Service

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. KANGPENG YOU / Chinese

Chinese Speaking Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Mr. HAONAN WANG / Chinese

Chinese Customer Service

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Mr. DENG YAN / Chinese

Chinese Customer Service

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. SIYU ZHANG / Chinese

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Mr. WEN ZHANG / Chinese

Chinese Customer Service

Mr. KAIYI CI / Chinese

Chinese Customer Service

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Mr. SIYUAN WANG / Chinese

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Ms. FAN TONG / Chinese

Chinese Customer Service

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Mr. HONGYU ZHAO / Chinese

Chinese Customer Service

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Mr. HAIYANG WANG / Chinese

Chinese Customer Service

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Mr. MENGKE LIU / Chinese

Chinese Customer Service

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Mr. YUNFENG ZHANG / Chinese

Chinese Customer Service

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Mr. WEI WANG / Chinese

Chinese Customer Service

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Mr. JIAN CHEN / Chinese

Chinese Customer Service

Mr. JIUWEI YUAN / Chinese

Chinese Speaking Customer Service Representative Chinese Speaking Customer Service Representative Chinese Speaking Customer Service Representative

Mr. JIANWEI HUANG / Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. LIANG XU / Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Ms. RUOYUAN MA / Chinese

Chinese Speaking Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Mr. XIANGRUN HE / Chinese

Chinese Customer Service

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Mr. CHAO GUO / Chinese

Chinese Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. HAOJIE YANG / Chinese

Chinese Speaking Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Mr. PHAM NGOC GIANG / Vietnamese

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Ms. YUN-HSIEN LEE / Taiwanese

Chinese Customer Service Representative

Mr. LIMING SUN / Chinese

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Mr. DI ZENG / Chinese

Chinese Customer Service Representative

Ms. JINMEI WANG / Chinese

Chinese Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Mr. BIN LIN / Chinese

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Mr. FU TIAN / Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Mr. XINGCONG YANG / Chinese

Chinese Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Mr. JINLONG ZHOU / Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Ms. NGUYEN THI BE NGA / Vietnamese

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Mr. LI WANG / Chinese

Chinese Customer Service

Mr. CAIWEN XU / Chinese

Chinese Speaking Customer Service Representative Chinese Speaking Customer Service Representative Chinese Speaking Customer Service Representative

Vietnamese Customer Service Representative

Mr. CAIYUN WANG / Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Mr. GUANGWEI WU / Chinese

Chinese Customer Service

Mr. JUNNING HUANG / Chinese

Chinese Speaking Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Mr. XIAOHUI SONG / Chinese

Chinese Customer Service

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. JIE LI / Chinese

Chinese Speaking Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Mr. WU ZHANG / Chinese

Chinese Customer Service

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Mr. CHONG PENG / Chinese

Chinese Customer Service

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. HAICHENG DONG / Chinese

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Mr. JI LIN / Chinese

Chinese Customer Service

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Ms. JIANGNAN HU / Chinese

Chinese Customer Service

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. XING HE / Chinese

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Mr. SHENGKANG MA / Chinese

Chinese Customer Service

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. JUNKAI KE / Chinese

Chinese Speaking Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Ms. NA CAI / Chinese

Chinese Customer Service

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. SHUANGSHUANG LI / Chinese

Chinese Speaking Customer Service Representative

FANUC PHILIPPINES CORPORATION Laguna Technopark Inc., Biñan City, Laguna

Mr. HIROSHI SATO/ Japanese

Mr. SHEHUI HUANG / Chinese

TSUCHIYA KOGYO (PHILS.), INC. LISP III, Santo Tomas, Batangas

Mr. YUKI OGIWARA / Japanese

General Manager for Business Operation Division

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

PHILIPPINES TRC INC. Lima Technology Center, Lipa City, Batangas

Mr. KYOHEI AKITA / Japanese

Assistant Manager

SYTECS MANUFACTURING PHILIPPINES, INC. Bgry. Sta. Anastacia, Santo Tomas, Batangas

Mr. HYUNJAE IM / Korean

LIZARD BEAR TASKING INC. Tanzang Luma I, Imus, Cavite

Mr. BUM KU KIM / Korean

FUJIMOLDPHILIPPINES INC. LISP 3, Bgry. San Rafael, Santo Tomas, Batangas

Mr. MASAHIRO KAWAMURA / Japanese

Assembly Manager

CONTINENTAL TEMIC ELECTRONICS (PHILS.), INC. LISP II-SEZ, Brgy. Lamesa, Calamba City, Laguna

Mr. DAISHI KAWAGUCHI / Japanese

Quality Consultant

ALMEXTECH, INC. CEZ, Rosario, Cavite

Mr. KIMIHARU YOSHIDA / Japanese

President / Business Development Manager

HONDA PHILIPPINES, INC. FPIP, Tanauan City, Batangas

Mr. KEISUKE KAMIMURA / Japanese

Assistant Vice President and Manager of Power Product

CNB MACHINERY AND STEEL CORP. Narra Road, San Antonio, San Pedro, Laguna

Mr. SUNG BIN KIM / Korean

Chinese Speaking Customer Service Representative Chinese Speaking Customer Service Representative

Chinese Speaking Customer Service Representative

Chief Operating Officer

SUZUKI PHILIPPINES INCORPORATED CIP I, Canlubang, Calamba City, Laguna

Mr. TOSHIYUKI UEMORI / Japanese

B/E AEROSPACE B.V. FPIP Brgy. Ulango, Tanauan City, Batangas

Mr. RICHARD CHRISTOPHER GREEN / British

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Mr. CHONG WU / Chinese

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Ms. YUE YANG / Chinese

Chinese Customer Service

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Mr. JIA LIU / Chinese

Chinese Customer Service

Director for Manufacturing and Engineering Division Director III - Operational Excellence Chinese Customer Service

President/Managing Director

Teammate (Multilingual)

Assistant General Manager / Vice President and Treasurer

Banking&Finance BusinessMirror

Friday, January 15, 2021 A5

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Customs eyes more cash from importers

By Bernadette D. Nicolas

@BNicolasBM

HE Bureau of Customs (BOC) announced it expects to collect an additional P11.9 billion from importers through its postclearance audits in 2019.

In a statement on Thursday, the BOC said letters have been issued to importers the agency suspects to have violated the provisions of the Customs Modernization and Tariff Act (CMTA). The letters also demanded payment to government. Of the 26 demand letters the BOC said it sent, 18 amounted to a total of P5 billion, which are subject of motions for reinvestigation and/ or reconsideration. Eight letters demanded payment of P6.9 billion, which the BOC said still has yet to be settled. The latter have been re-

ferred to the agency’s legal service for the filing of a collection suit. In 2019, the BOC collected P2.061 billion from post-clearance audits. The BOC said it collected last year about P1.2 billion on imports. Preliminary data from the BOC shows the agency collected a total of P533.88 billion last year, overshooting its downscaled target of P501.33 billion by 6.49 percent. Meanwhile, the BOC also reported that from last year until January 8, a total of 127 cases were filed against erring importers and

customs brokers for violation of the CMTA and other pertinent laws. Of the total number of cases, 75 criminal suits against various importers were filed before the Department of Justice while 52 administrative cases were filed against customs brokers before the Philippine Regulatory Commission. The BOC said that during the same period, its legal service staff also resolved a total of 370 cases on appeal, including abandonment proceedings, seizure and forfeiture cases, determination of probable cause proceedings, and protests. In terms of cases against erring Customs employees, the BOC said it also filed 48 disciplinary administrative cases from 2019 to 2020. These include 18 cases that were transmitted to the Office of the Ombudsman. The BOC said that last year, about 11 cases were resolved, 17 are for resolution and 11 cases are under formal investigation.

Opportunities seen in debt market By Tyrone Jasper C. Piad @Tyronepiad

ITH debt issuances nearly doubling last year, an investment banker sees more opportunities in the fixed-income market this year for both short-term and long-term investments. Daniel D. Camacho of the First Metro Investment Corp. (FMIC) said in an online briefing on Thursday that regulatory actions, such as policy rate cuts and reserve requirement reductions, have been supporting the debt capital market. “BSP [Bangko Sentral ng Pilipinas] has been clear about utilizing policy tools as needed, whether rate cut or further reductions to the reserve requirement,” Camacho, who heads FMIC’s investment banking business, said. “This means 2021 will continue to be an opportunity to come to market, especially for those who were hesitant last year.” Camacho believes that investors in the country’s “receptive and resilient” debt market are keen on parking their funds on investments, with a “sweet spot” for short-term instruments, and those with tenor of up to three years. However, he pointed out that a modest appetite for investments with carrying a 5-year tenor has started to develop, given that investors will be

compensated accordingly. Offshore bonds, meanwhile, are a key alternative funding source for bigger corporates and bond issuers, Camacho said. “We expect offshore USD [US dollar] market to continue to complement local bond issues of our larger clients,” he added. Local debt capital market issuances reached P1.22 trillion last year, which is nearly double than the P630 billion in 2019. The bulk (68 percent) of the issuances last year came from government bonds amounting to P830 billion, which is more than threefold compared to P241 billion in 2019. This was followed by bank issuances of P259 billion—nearly flat from P260 billion in 2019—accounting for 21 percent. Corporate bonds, comprising nearly 9 percent, grew by over 20 percent to P104 billion last year from P86 billion in 2019. Preferred shares accounted for the remaining P22-billion of issuances. Corporate bond issuers last year include the following: Arthaland Corp.; Ayala Land Inc.; San Miguel Corp.; SM Prime Holdings Inc.; Robinsons Land Corp.; SM Investments Corp.; Aboitiz Power Corp.; Filinvest Land Inc.; Aboitiz Equity Ventures; and, Del Monte Pacific Ltd. Bank issuances in 2020 came from the following: BDO Unibank Inc.; Bank

of the Philippine Islands; East West Banking Corp.; Philippine Savings Bank; Union Bank of the Philippines; Metropolitan Bank & Trust Co.; Security Bank Corp.; China Banking Corp.; Development Bank of the Philippines; and, Rizal Commercial Banking Corp. Offshore issuances, meanwhile, doubled to nearly $9 billion year-onyear in 2020, Camacho noted.

Bank lending

THE investment banker mentioned that debt issuances from private sector bridged the gap in bank borrowing. According to the presentation, private issuances rose by nearly 8 percent to P1.63 trillion in 2020 from P1.51 trillion in the previous year. This as bank loans dropped by 3.21 percent to P8.42 trillion last year from P8.7 trillion in 2019. “The growth in private sector issuances compensated for the decline in bank lending—the first after many years of double-digit growth,” Camacho explained. “This reflects the contraction in the economy and understandably a more prudent approach in taking credit risk.” The central bank recently reported that growth of outstanding loans extended by universal and commercial banks declined further to 0.3 percent in November last year from 1.8 percent the previous month.

Association work programming cycle

PTIMISM currently runs high for associations to recover lost ground in 2020 and move on better to 2021 as light can now be seen at the end of the tunnel of this global pandemic with the rollout of vaccines in some parts of the world. Associations, however, need to do their part as inaction could either spell stagnation or demise. Below is a suggested cycle of quarterly programming actions which may help hasten your association’s recovery process: First Quarter: This period is the most critical time that will carry your association throughout the year. At the outset, conduct a series of sprint strategy planning meetings (could be virtual) for your Board and staff to map out the work program for the year. Make these sessions short and sweet; highlighting only the “doables” that will resonate well and be relevant to your members. Prepare a corresponding budget that covers the work program set. Put in place an adaptable organizational structure to carry out the plans, including a performance monitoring system to measure accomplishments vis-à-vis the work program. With the work program and budget done, prepare a calendar of activities, preferably on a monthly basis, and disseminate this soonest to your members alongside doing the required logistics. For example, if you are conducting webinars, provide detailed descriptions, speakers, timing,

Association World Octavio Peralta and delivery platform to be used and registration fees. Do this for other member benefits as well such as e-publications and knowledge resources. Second Quarter: Continue reviewing the work program and tweak, if needed. Organize stakeholders meetings with your members and partners to get feedback and/or fresh programming ideas. There may be scope as well to conduct short (three to five questions) surveys on your members’need for solutions they are seeking. Should there be offers for collaboration from other organizations, study them and, if they provide added value and are beneficial to your members, include these in the monthly schedule. This is the time, too, to reach out to other associations and like-minded organizations and explore areas of collaboration. As we know now, collaboration is the new currency for organizational success. Third Quarter: By this time, you already have a feel for what has worked well and what hasn’t in your work program so use this data to further improve on the remaining

scheduled activities. Use this time also to take stock on the feedback you have received from your members (through surveys) and from testimonials of other key stakeholders, i.e., partners, sponsors, volunteers. Fourth Quarter: You should have a pretty good handle on your year’s work programming by this time and so it’s apt now to reflect on the experiences you’ve had and start planning for the following year but more for the longer term. This is where a full-blown strategic planning meeting may have to be undertaken by the Board and management. You may note that the whole year is a cycle—plan, act, react, and reflect—that will repeat itself as you go through it. With continuous improvement based on data and experience, your association has a good chance of a rebound this year.

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

A4 Friday, January 15, 2021 • Editor: Vittorio V. Vitug A6

Economy BusinessMirror

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PBEd to govt: Resume face-to-face classes ASAP

By Elijah Felice E. Rosales

@alyasjah

ONPROFIT Philippine Business for Education (PBEd) has demanded the government to allow the resumption of face to face classes “as soon as possible” to recover from learning losses suffered by the country the past years.

PBEd Executive Director Lovelaine B. Basillote on Thursday asked the government to open up schools for face to face learning

the soonest. Granting schools the authority to resume physical classes will provide some 2.7 million out of school students

the choice to enroll, or else they will finish the year without any progress in their formal education, she said. “In terms of when, I personally think that we should do it [resumption of face to face classes] as soon as possible,” Basillote said in a news briefing. She argued extending the period of only remote learning will reduce the learning adjusted years of schooling (LAYS) of students. According to the World Bank, LAYS is measured by combining standard metrics of education, which center on the quantity of schooling for the average person, with its qualitative aspects, which focus on what the person learned

from attending school. Basillote said the projected annual income of a Filipino goes down by at least $500 annually for every year of skipping formal education. “If you add that up, it’s really significant,” Basillote emphasized. “I think we should do it as soon as possible to really minimize the learning losses.” As to the question of how in the heat of the Covid-19 pandemic, the PBEd official explained the government can come up with considerations that must be taken into account before permitting schools to reopen for face to face learning. Basillote said the government should look at, above all else, the

number of cases first. Likewise, it must study the capacity of the health-care system to accommodate patients should there be a spike in the transmission of the virus. She said the Philippines can no longer afford to slow down the education of its students after ranking dead last in international assessments like the Programme for International Student Assessment 2018 and Trends in International Mathematics and Science Study 2019. The Department of Education (Deped) has mandated schools to shift to blended learning, in the form of modular and online classes, to secure the safety of

students in the time of the Covid-19 pandemic. However, the lack of learning devices and Internet needed to participate in the virtual classes prevented millions from attending school in this academic calendar. Based on records from the DepEd, some 2.7 million students across all levels did not enroll for school year 2020-2021. As to whether the country is fit to allow the conduct of faceto-face classes is a different question altogether. The Philippines is nearing to breach 500,000 cases, with close to 10,000 deaths, and on Wednesday the first case of the new Covid-19 variant was detected here.

DBM report bares ₧505-B spending to fund fight against Covid-19 By Bernadette D. Nicolas @BNicolasBM

HE Department of Budget and Management (DBM) has so far released P505.17 billion to fund the government’s fight against the Covid-19 pandemic. Based on DBM’s latest summary of Covid-19 releases as of December 29 last year, the amount already included a combined total of P3.28 billion in “Post-Bayanihan 2” allotments issued to the Department of Health (DOH) and Department of National Defense (DND)’s Office of Civil Defense (OCD) after the law

expired on December 19. This was on top of the P109.16 billion in allotment releases issued under Bayanihan 2, P6.589 billion under Post-Bayanihan 1 and P386.14 billion in Bayanihan 1. Allotments are authorizations issued by the DBM to an agency, which allows them to incur obligation for specific amounts contained in a legislative appropriation. Post-Bayanihan 2 releases to DOH included those charged from loan proceeds from foreign-assisted projects under the 2020 national budget: P1.49 billion for the advance payment for Covid-19 vaccine pro-

curement charged against the Philippines Covid-19 Emergency Response Project (ERP) under a foreign loan assistance from International Bank for Reconstruction and Development P1.27 billion for the advance payment for Covid-19 vaccine procurement charged against the Health Systems Enhancement to Address and Limit (HEAL) Covid-19 under a foreign loan assistance from the Asian Development Bank P388.15 million for the additional first year funding requirements for the Philippines Covid-19 Emergency Response Project (ERP) under a foreign loan assistance from

International Bank for Reconstruction and Development Apart from this, P129.87 million was released to DND-OCD to cover the additional funding requirements for the Quick Response Fund. This came from existing items under the 2020 national budget. To recall, President Duterte on December 29 signed the law extending the validity of budget allocation for programs, projects, and activities of government agencies, as well as fund releases for local government units (LGU) and Government Financial Institutions (GFIs) for programs, projects, and activities under Baya-

nihan 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 GFIs sourced from savings in the 2020 national budget. 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 national budget already lapsed. The Bayanihan 2 originally earmarked P140 billion in regular appropriations and a standby fund of

P25 billion to cushion the effects of the pandemic. Meanwhile, 60 percent or P306.7 billion of overall Covid-19 releases was sourced from discontinued programs, activities, and projects of the government under the 2019 and 2020 national budgets. The rest of the funds came from special purpose fund under the 2020 nationalbudget(P112.58billion),collectionsbeyondtargetsundertheBudgetof Expenditures and Sources of Financing, as certified by the Bureau of the Treasury (P63.478 billion) and from regular agency budget under the 2019 and 2020 national budgets (P22.42 billion).

DA reports major gains to resolve AI outbreaks in Pampanga, Rizal

A POULTRY raiser in Central Luzon tends to his chickens as government reports that it has resolved avian influenza outbreaks in Rizal and Pampanga. NONIE REYES By Jasper Emmanuel Y. Arcalas @jearcalas

HE Philippines has formally notified the World Organization for Animal Health (OIE) that it has resolved the avian influenza (AI) outbreaks it recorded in Pampanga and Rizal last year. Based on its report to the OIE on January 13, the Philippines said San Luis, Pampanga and Taytay, Rizal are now free from bird flu. “The event is resolved. No more reports will be submitted,” the Philippine report, prepared and submitted by Bureau of Animal Industry Director and Philippine Chief Veterinary Officer Ronnie D. Domingo, read. The Department of Agriculture (DA) confirmed last year the resurgence of the fatal H5N6 highly pathogenic AI (HPAI) in a layer farm in San Luis, Pampanga—the hot zone of the Central Luzon bird flu outbreak where over 200,000 birds were culled in 2017. The dreaded bird flu struck an egg farm where government veterinarians had humanely culled 38,701 heads, according to the DA. The DA said initial field investigation showed the presence of migratory birds in San Luis, Pampanga. Migratory birds have been associated with bird flu outbreaks in many countries, including the Philippines, DA added.

The bird flu outbreak in barangay San Carlos, San Luis, Pampanga was the second bird flu outbreak last year following the confirmed outbreak in Jaen, Nueva Ecija. The third bird flu outbreak, confirmed by the Philippines last year was in backyard farms in Taytay, Rizal, affected a few hundreds of muscovy ducks and native chickens. Two backyard farms were confirmed positive for HPAI H5N6 out of 12 farms in the 1-kilometer radius that were tested by the government in the area. Five backyard raisers experienced unusual mortality among their flocks, including deaths in game fowls, but only the fifth affected raiser reported to the government about the incident in the latter part of August, DA experts said. The affected farm that reported to the government had about 500 native chickens and 300 muscovy ducks, with the majority of the population being wiped out by the disease. Government authorities only had to depopulate less than a hundred native chickens and about 49 muscovy ducks. Due to this, government authorities went to depopulate eight more farms that had a history of unusual mortality among their flock and were adjacent to the positive farm since they had no biosecurity measures, making them high-risk for the virus.

BusinessMirror

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ESTABLISHMENT / ADDRESS NO.

FOREIGN NATIONAL / NATIONALITY

ESTABLISHMENT / ADDRESS POSITION

24/7 BUSINESS PROCESSING INC. 11/f Capella Bldg. L-3&4 B2, Asian Drive Filinvest Alabang Muntinlupa City 1. 2.

SANTRA WINARDY Indonesian SUHARDI Indonesian

AI, ANWEN Chinese

BAN, CHANG Chinese

CHEN, LIFEI Chinese

FENG, ZIQING Chinese

GAO, RUXIAN Chinese

HAN, ZEMIN Chinese

HE, AIMAO Chinese

10.

HUANG, RONG Chinese

11.

HUANG, XIN Chinese

12.

KANG, YAN Chinese

13.

LI, RUI Chinese

14.

LIU, SHIKUN Chinese

15.

LIU, YOUWEI Chinese

16.

LIU, XIAODONG Chinese

17.

LIU, HAO Chinese

18.

LIU, QIAN Chinese

19.

MA, BEN Chinese

20.

MENG, MINGMING Chinese

21.

NG SIEW LING Malaysian

22.

NONG, MENGCHU Chinese

23.

TAY YAN LI Malaysian

24.

WANG, QIUCHENG Chinese

25.

XIAO, YICEN Chinese

26.

YAN, RENJIAN Chinese

27.

ZHANG, YUCHEN Chinese

28.

ZHANG, JIFENG Chinese

29.

ZHAO, JINXIANG Chinese

30.

DO THU NGAN Vietnamese

31.

THIEU THI TINH Vietnamese

BAHASA SPEAKING CUSTOMER SERVICE REPRESENTATIVE BAHASA SPEAKING CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE VIETNAMESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE VIETNAMESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

8 STONE BUSINESS OUTSOURCING OPC 5-10/f Tower 1 Pitx Kennedy Road Tambo Parañaque City CUSTOMER SERVICE HU, CONGCONG 32. REPRESENTATIVE MANDARIN Chinese SPEAKING CUSTOMER SERVICE LIU, HAIYANG 33. REPRESENTATIVE MANDARIN Chinese SPEAKING ALASKA MILK CORPORATION Corinthian Plaza Bldg. P. De Roxas San Lorenzo Makati City SIU, KIN YEUNG CUSTOMER SUPPLY CHAIN 34. Chinese DIRECTOR AMAZON OPERATION SERVICES PHILIPPINES, INC. B21 Three E-com Moa Complex Harbour Drive Cor. Bay Shore Brgy. 076 Pasay City SANGUANRAT, 35. SELLER SUPPORT ASSOCIATE KANPHITCHA, Thai DAO THU HA SELLER SUPPORT ASSOCIATE 36. Vietnamese VIETNAMESE LANGUAGE PHAM DUC NGHIA VIETNAMESE SPEAKING 37. Vietnamese INVESTIGATION SPECIALIST ANOC99 CORPORATION 5/f Ayala Malls Manila Bay Building D. Macapagal Blvd. Cor. Aseana Street Tambo Parañaque City 38.

CHEN, FENG, Chinese

CHINESE CUSTOMER SERVICE

GUAN, HONGWEI, 39. CHINESE CUSTOMER SERVICE Chinese ASK ASIA SOLUTIONS INC. 1608 16/f New World Manila Bay Hotel 1588 M. H Del Pilar Cor. Pedro Gil Sts. 076 Bgy. 699 Malate Manila 40.

BETTATI, ALESSANDRO Italian

EUROPEAN REGIONAL DIRECTOR

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

NO.

FOREIGN NATIONAL / NATIONALITY

ESTABLISHMENT / ADDRESS POSITION

HO LAM MY QUAN CS QUALITY MANAGER (MULTIVietnamese LINGUAL) CHAIYONG, CUSTOMER SUPPORT (MULTI42. KANUENGNIT, Thai LINGUAL) FEBRIAN DANIEL CUSTOMER SUPPORT (MULTI43. ANDRESON , Indonesian LINGUAL) NUTPRASERT, CUSTOMER SUPPORT (MULTI44. KANOKPORN, Thai LINGUAL) WORARIT, SOYKANDA CUSTOMER SUPPORT (MULTI45. Thai LINGUAL) THONGKHAM, QUALITY ANALYST (MULTI46. SITTINONT, Thai LINGUAL) AMORNWATWEKIN, SALES EXECUTIVE (MULTI47. JIRAPAT, Thai LINGUAL) BIG EMPEROR TECHNOLOGY CORP. 5f-13f, Jiaxing Tower Building Aseana Avenue, Aseana Business Park Tambo Parañaque City GIN TUYET DIEM 48. COMPUTER SYSTEM ANALYST Vietnamese NGUYEN THI THAO 49. COMPUTER SYSTEM ANALYST Vietnamese HU, JIAYING MANDARIN CUSTOMER 50. Chinese SERVICE LI, ZONGHENG MANDARIN CUSTOMER 51. Chinese SERVICE WU, XIANXIN MANDARIN CUSTOMER 52. Chinese SERVICE ZHANG, YIQIANG MANDARIN CUSTOMER 53. Chinese SERVICE BILLION DRAGON OUTSOURCE PHILS., INC. One Townsquare Place Bpo Bldg. Alabang Zapote Rd. Almanza Uno Las Piñas City JIANG, SHAOLING CUSTOMER SERVICE 54. Chinese REPRESENTATIVE (CSR) KE, SHUANGGUI CUSTOMER SERVICE 55. Chinese REPRESENTATIVE (CSR) LI, QIUXIA CUSTOMER SERVICE 56. Chinese REPRESENTATIVE (CSR) LIU, XINGYUE CUSTOMER SERVICE 57. Chinese REPRESENTATIVE (CSR) SHEN, ZHEN CUSTOMER SERVICE 58. Chinese REPRESENTATIVE (CSR) YANG, RUYI CUSTOMER SERVICE 59. Chinese REPRESENTATIVE (CSR) ZHANG, JINJIANG CUSTOMER SERVICE 60. Chinese REPRESENTATIVE (CSR) ZHANG, SHIPENG CUSTOMER SERVICE 61. Chinese REPRESENTATIVE (CSR) ZHANG, XIN CUSTOMER SERVICE 62. Chinese RERESENTATIVE (CSR) CHINA GEZHOUBA GROUP CO., LTD. (PHILIPPINES BRANCH) 910 High Street South Corporate Plaza Tower One 26th Street Fort Bonifacio Taguig City 63. ZENG, YONG, Chinese FINANCE MANAGER 64. ZHOU, YONG, Chinese PROCUREMENT MANAGER 65. SUN, AIPING, Chinese PROJECT MANAGER 66. WANG, XING, Chinese SITE MANAGER CHINA HARBOUR ENGINEERING COMPANY 5/f Rm 501 Ramon Magsaysay Center 1680 Roxas Blvd. 076, Bgy. 699 Malate Manila 67. LIU, XIUKAI, Chinese CHIEF PROCUREMENT OFFICER MANDARIN ASSISTANT 68. LI, JINSHENG, Chinese OPERATIONS MANAGER REN, PENGFEI MANDARIN ELECTRICAL 69. Chinese COMMISIONING MANAGER MANDARIN FIELD SERVICE 70. CAI, JUNCONG, Chinese COORDINATOR WANG, HONGFEI MANDARIN FIELD SERVICE 71. Chinese COORDINATOR JIANG, JINLAI MANDARIN HEAD OPERATIONS 72. Chinese PROJECT MANAGER DUAN, JINGQUAN MANDARIN PROJECT 73. Chinese MANAGER WANG, KEQI MANDARIN PROJECT 74. Chinese SPECIALIST OPERATION AND LIU, SONG 75. MAINTENANCE RECORDING Chinese SYSTEM CINATECH LIMITED CORP. 10-1 One Global Place 25th St., Cor. 5th Ave. Bgc Fort Bonifacio Taguig City BUSINESS DEVELOPMENT CHEN, YUHAN 76. SPECIALIST (BI LINGUAL IN Chinese MANDARIN) BUSINESS DEVELOPMENT HUANG, WEIJIAN 77. SPECIALIST (BI LINGUAL IN Chinese MANDARIN) BUSINESS DEVELOPMENT TON VU HONG HANH 78. SPECIALIST (BI LINGUAL IN Vietnamese MANDARIN) DIGISPARK TECH CORP. Unit 1618 High Street, South Corporate Plaza, Tower 2 26th St. Corner 9th Ave. Bgc Fort Bonifacio Taguig City ZHANG, HEHE 79. DATA QUALITY MANAGER Chinese LAW SIEN HWA 80. MARKETING EXECUTIVE Malaysian LIN, MINHUA 81. MARKETING EXECUTIVE Chinese EASTERN GOLD CORPORATION 503 Nueva St Binondo Manila CAI, DASI 82. MARKETING AND SALES AGENT Chinese FAREAST OUTSOURCE PROCESSING INC. 7th, 8th, 9th Flr. Nu Tower Moa Coral Way Brgy. 076 Pasay City ERIC FERNANDY CUSTOMER SERVICE 83. Indonesian REPRESENTATIVE (CSR) LI, FENGCHEN CUSTOMER SERVICE 84. Chinese REPRESENTATIVE (CSR) NGUYEN VAN QUOC CUSTOMER SERVICE 85. Vietnamese REPRESENTATIVE (CSR) SU, PEISHEN CUSTOMER SERVICE 86. Chinese REPRESENTATIVE (CSR) TANG, SHIHONG CUSTOMER SERVICE 87. Chinese REPRESENTATIVE (CSR) YANG, ZHENHUA CUSTOMER SERVICE 88. Chinese REPRESENTATIVE (CSR) ZHANG, LUN CUSTOMER SERVICE 89. Chinese REPRESENTATIVE (CSR) GALAXIER INC. Unit 1 & 3 14/f Sshg Law Center Sycip Law Center 105 Paseo De Roxas San Lorenzo Makati City BAI, YUMING CHINESE SPEAKING 90. Chinese HARDWARE TECHNICIAN 41.

91.

CHANG, CHIEN-PING Taiwanese

Friday, January 15, 2021

CHINESE SPEAKING HARDWARE TECHNICIAN

NO.

FOREIGN NATIONAL / NATIONALITY

ESTABLISHMENT / ADDRESS POSITION

HU, JIAXIN CHINESE SPEAKING Chinese HARDWARE TECHNICIAN LI, ZHIWEI CHINESE SPEAKING 93. Chinese HARDWARE TECHNICIAN WANG, XINWU CHINESE SPEAKING 94. Chinese HARDWARE TECHNICIAN ZHONG, MENG CHINESE SPEAKING 95. Chinese HARDWARE TECHNICIAN GENESYS TELECOMMUNICATIONS LABORATORIES LTD. 16th Flr. Cyberpark Tower 1 Cor. Aguinaldo Araneta Center Socorro 3 Quezon City HANSEN, INGO BOB MANILA SITE LEADER 96. Dutch GLOBALLGA BUSINESS PROCESS OUTSOURCING Ground Level, Level 2-5 Floor Silver City 4, Ortigas East Ugong Pasig City CUSTOMER SERVICE CHEN, XIAOFENG 97. REPRESENTATIVE MANDARIN Chinese SPEAKING CUSTOMER SERVICE CHEN, HAIFENG REPRESENTATIVE MANDARIN 98. Chinese SPEAKING CUSTOMER SERVICE DENG, MINGDONG 99. REPRESENTATIVE MANDARIN Chinese SPEAKING CUSTOMER SERVICE HUO, ZHENGHAO REPRESENTATIVE MANDARIN 100. Chinese SPEAKING CUSTOMER SERVICE HUO, ZHENGRUN 101. REPRESENTATIVE MANDARIN Chinese SPEAKING CUSTOMER SERVICE LIU, YANG 102. REPRESENTATIVE MANDARIN Chinese SPEAKING CUSTOMER SERVICE ZHU, RUI 103. REPRESENTATIVE MANDARIN Chinese SPEAKING HITACHI ASIA LTD. Unit 8 11/f Zuellig Bldg. Makati Ave Cor, Paseo De Roxas Urdaneta Makati City OKSANEN, JORMA HEAD OF SALES & BUSINESS 104. JOHANNES DEVELOPMENT - SOUTH EAST Australian ASIA HUAWEI TECHNOLOGIES PHILS. INC. U-5302, 53/f Pbcom Tower 6795 Ayala Ave., Cor., V.a. Rufino St. Bel-air Makati City FINANCIAL MANAGER FOR HE, JUNXIONG 105. SMART NEW FULL TURN KEY Chinese PROJECT PLDT TRANSPORT NETWORK MU, ZHAOLEI TRANSFORMATION (TNT) 106. Chinese PROJECT DIRECTOR SALES ACCOUNT MANAGER WANG, HUANHUAN 107. FOR PHILIPPINES DITO Chinese WIRELESS PROJECT WIRELESS SUPERVISOR FOR LI, BIN 108. GLOBE 5G FIXED WIRELESS Chinese ACCESS (FWA) PROJECT INTEGRITY GLOBAL GROUP, INC. 2/f-3/f Ayala Malls Circuit A.p. Reyes Ave. Carmona Makati City DAI, GUONAN CUSTOMER SERVICE 109. Chinese REPRESENTATIVE SU, JINFA CUSTOMER SERVICE 110. Chinese REPRESENTATIVE SU, ZHILONG CUSTOMER SERVICE 111. Chinese REPRESENTATIVE XIONG, WANQIU CUSTOMER SERVICE 112. Chinese REPRESENTATIVE YU, QINGWEI CUSTOMER SERVICE 113. Chinese REPRESENTATIVE INVECH TREASURE PROCESSING CORPORATION 2nd, 3rd, 4th, 5th Floor Six West Campus Mckinley West Fort Bonifacio Taguig City DENG, RUIDONG QA (QUALITY ASSURANCE 114. Chinese SPECIALIST) LI, YAN QA (QUALITY ASSURANCE) 115. Chinese SPECIALIST LUFTHANSA SERVICES PHILIPPINES, INC. 8th Floor Aeon Center Northgate Cyberzone Alabang Muntinlupa City STAWARZ, NATALIA 116. MAGDALENA MANAGING DIRECTOR Polish MEGA-WEB TECHNOLOGIES INC. 6,7,8,9,10,11/f Met Live Bldg. Edsa Cor. Macapagal Blvd. Brgy. 076 Pasay City MANDARIN SPEAKING YE, YONGLIN 117. CUSTOMER RELATIONS Chinese SERVICE PROVIDER MANDARIN SPEAKING CHEN, YONGMING 118. CUSTOMER RELATIONS Chinese SERVICE PROVIDER MANDARIN SPEAKING CHEN, JIANKAI 119. CUSTOMER RELATIONS Chinese SERVICE PROVIDER MANDARIN SPEAKING FENG, WENTAO 120. CUSTOMER RELATIONS Chinese SERVICE PROVIDER MANDARIN SPEAKING LI, ZHUO CUSTOMER RELATIONS 121. Chinese SERVICE PROVIDER MANDARIN SPEAKING LING, YUYUN 122. CUSTOMER RELATIONS Chinese SERVICE PROVIDER MANDARIN SPEAKING NIE, SIJUN CUSTOMER RELATIONS 123. Chinese SERVICE PROVIDER MANDARIN SPEAKING SONG, GUOXIONG 124. CUSTOMER RELATIONS Chinese SERVICE PROVIDER MANDARIN SPEAKING WANG, SHIXIONG 125. CUSTOMER RELATIONS Chinese SERVICE PROVIDER MANDARIN SPEAKING WANG, ZHEN 126. CUSTOMER RELATIONS Chinese SERVICE PROVIDER MANDARIN SPEAKING ZHENG, YABO 127. CUSTOMER RELATIONS Chinese SERVICE PROVIDER MANDARIN SPEAKING ZHUANG, YUAN 128. CUSTOMER RELATIONS Chinese SERVICE PROVIDER VIETNAMESE SPEAKING CU HUNG LONG 129. CUSTOMER RELATIONS Vietnamese SERVICE PROVIDER VIETNAMESE SPEAKING CUN CAM PHUC 130. CUSTOMER RELATIONS Vietnamese SERVICE PROVIDER VIETNAMESE SPEAKING CUN CHAC KHIN 131. CUSTOMER RELATIONS Vietnamese SERVICE PROVIDER 92.

NO.

FOREIGN NATIONAL / NATIONALITY

132.

DANG DINH PHONG Vietnamese

133.

HOANG TRUNG Vietnamese

134.

LY THE KIET Vietnamese

135.

PHAM ANH KHOA Vietnamese

136.

PHONG CONG KHIN Vietnamese

137.

PHUNG THI HOA Vietnamese

138.

SU QUAY DAU Vietnamese

139.

VONG DUC QUANG Vietnamese

140.

HONG CHAN SANG Vietnamese

POSITION VIETNAMESE SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER VIETNAMESE SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER VIETNAMESE SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER VIETNAMESE SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER VIETNAMESE SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER VIETNAMESE SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER VIETNAMESE SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER VIETNAMESE SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER VIETNAMESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

OPTIMORE INC. Unit 3-c 3/f Lpl Tower 112 Legaspi St. San Lorenzo Makati City HUANG, YIQIANG MANDARIN SPEAKING 141. Chinese CUSTOMER SERVICE SPECIALIST PHILIPPINE AXA LIFE INSURANCE CORPORATION 33/f, 34/f & 35/f Gt Tower Int’l 6813 Ayala Ave. Cor. H.v. Dela Costa St. Bel-air Makati City LAPIE USAGE 142. HORNUNG, GAEL CHIEF FINANCIAL OFFICER GEORGES ANN, French BARTHOLOMEUS, 143. MATTHIEU CHRISTIAN INTERNAL AUDIT MANAGER DANIEL, French PRIME GREAT COMPUTER TECHNOLOGIES INC. 3/f To 8/f, Nissan Sucat Zentrum Building 8390 Dr. A Santos Avenue Bf Homes Parañaque City LI, SHUAI IT TECHNICAL MANDARIN 144. Chinese SONG, TENGCHAO 145. IT TECHNICAL MANDARIN Chinese SECURE SMARTER SERVICES INC. Unit A 9/ F Bpi-philam Life Bldg. 6811 Ayala Ave. Bel-air Makati City CHIEN, CHAO-TING CHINESE SPEAKING SITE 146. Taiwanese TECHNICIAN SIEGREICH SOLUTIONS INC. 34/f Burgundy Corporate Tower 252 Sen. Gil Puyat Ave. Pio Del Pilar Makati City CUSTOMER SERVICE XU, YUANTING 147. REPRESENTATIVE-MANDARIN Chinese SPEAKING SITEL PHILIPPINES CORPORATION Ortigas Home Depot Julia Vargas Ave. Ugong Pasig City REDDY, SAMAIAYA SENIOR DIRECTOR FOR 148. MADHAVAN OPERATIONS Indian SMC SHIPPING LIGHTERAGE CORPORATION Rm 500-503 5/f Vip Bldg. 1140 Roxas Blvd. Cor. Nuestra Sra. De Guia, 072 Bgy. 667 Ermita Manila 149.

LOH CHIH KANG Singaporean

TECHNICAL CONSULTANT

SPEED QUALITY TECH INC. 3/f Eco Plaza Bldg. 2305 Chino Roces Ave. Extn. Magallanes Makati City 150.

CHUNG, YU-CHEN Taiwanese

MANDARIN CUSTOMER SERVICE SPECIALIST

151.

HSIA, HSIANG-YIN Taiwanese

MANDARIN CUSTOMER SERVICE SPECIALIST

TELUS INTERNATIONAL PHILIPPINES, INC. Units 23/f, 31st/f - 37th/f Discovery Centre Adb Avenue, Ortigas Center San Antonio Pasig City 152.

MPOUTOU, RICHARD CHADET Congolese

FRENCH OPERATIONS CSR

153.

NANA TCHOUTA, SUZY CLAUDIA Cameroonian

FRENCH OPERATIONS CSR

154.

NGWA SEBA, NGWA Cameroonian

FRENCH OPERATIONS CSR II

VEHICLE MASTER SERVICE CORP. #27 T. Santiago St., Canumay West Valenzuela City 155.

LI, ZHIZHENG Chinese

CHINESE - MECHANICAL SPECIALIST

WISHLAND SOFTWARE TECHNOLOGY INC. 28/f Techzone Condo Corp. 213 Buendia Ave. San Antonio Makati City 156.

GAO, XIAOGUANG Chinese

CHINESE LANGUAGE CUSTOMER SERVICE STAFF

157.

LI, BAIRUI Chinese

CHINESE LANGUAGE MARKETING STAFF

158.

LI, NA Chinese

CHINESE LANGUAGE MARKETING STAFF

159.

CHONG CHEE HOW Malaysian

COMPUTER PROGRAMMER

160.

NGUYEN NHU NGOC QUAN , Vietnamese

VIETNAMESE LANGUAGE MARKETING STAFF

ZTE PHILIPPINES INC. Unit 1201 & 1202 12th Floor Fort Legend Towers 3rd Ave. Corner 31st St. Bgc, Fort Bonifacio Taguig City 161.

CHEN, XIAOLI, Chinese

POWER DELIVERY MANAGER

*Date Generated: Jan 14, 2021 Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at DOLE-NCR Regional Office located at DOLE-NCR Building, 967 Maligaya St., Malate Manila, within 30 days after this publication. Please inform DOLE-NCR if you have any information on criminal offense committed by the foreign nationals.

ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

Friday, January 15, 2021 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Social media censorship

his is the world in 2021: “Censorship is bad in a free nation and society.” “On the other hand, certain things said in public are harmful and even dangerous to society.” “On the other other hand, government should have no control over free speech particularly press freedom.” “On the other other other hand, we cannot let the private sector—especially social media— control and influence public discussion.” The last decade and social media’s rise, led by Facebook and Twitter, had seen a historically unprecedented “capability of expression” by the average citizen. In the United States, the first daily newspaper, the Pennsylvania Packet and Daily Advertiser, began publication on September 21, 1784. With newspapers came “Letters to the Editor,” and by the mid-18th century, these were a dominant part of political and social discourse. Any average citizen had the opportunity to express his or her views on any topic of interest. However, the “editor” had the final word—or censorship—on which letters from the public were published. But from Facebook’s founding in 2004 and Twitter in 2006, there was, theoretically, no longer an “editor” to act as gatekeeper from the individual to the public. The need for—or fight against—censorship has always been a part of the public discussion. In 399 BC, Socrates was accused of corruption of Athenian youth and sentenced to death. Plato advocated censorship in his essay The Republic. Greek playwright Euripides defended the right to speak freely. But the reality is that the censorship of certain speech has always been used by those with the power to censor to “protect the public” from “bad” thoughts. Just ask Socrates. And what is “bad” speech? In 1964, US Supreme Court Justice Potter Stewart described his threshold test for obscenity: “I know it when I see it.” Nothing has changed. Today there are countless “thought-leaders” that know what you should be allowed to say (and read) in public and what thoughts should be censored. They are much smarter than the average citizen and know absolutely what is best for society. The problem is that things get a little twisted. Much of the world now runs on the “Do As I Say Not As I Do” model, including “environmentalists” with private jets and politicians who send their children to private schools. “In 2016, look at how social media was weaponized in the Philippines. Duterte won a landslide victory in 2016 partly due to social media, weaponized tech platforms against critics and the media.” If that is true, then this would seem to be a welcome and praise-worthy event. “Uganda bans social media ahead of election. The social media shutdown in Uganda comes two days before the country’s presidential election. Users in the East African country said that they were unable to access Facebook and Twitter.” Except the platform that was concerned how social media was “weaponized” failed to carry the story about the Uganda shutdown. Why was that story “censored”? But we are not being “fair.” The Uganda government shut down social media because the election opposition was effectively using it to rally its supporters. We must decide. George Orwell: “If liberty means anything at all, it means the right to tell people what they do not want to hear.” Ray Bradbury: “If you don’t want a man unhappy politically, don’t give him two sides to a question to worry him; give him one. Better yet, give him none.” Since 2005

BusinessMirror A broader look at today’s business ✝ Ambassador Antonio L. Cabangon Chua

Our gaps in health care should be addressed now Sonny M. Angara

Better Days

ur experience in the past year demonstrated how shortages of beds, equipment, and health-care workers severely affect our response to large-scale medical crises. If anything, the Covid-19 pandemic has emphasized that medical facilities across the country urgently need to be upgraded.

In fact, this problem was highlighted, even before the pandemic. Throughout the decades, studies have shown that six out of every 10 Filipinos will die without ever consulting a medical professional, due to the prohibitive cost of health care in the country and the lack of access to facilities, especially in the countryside. This need for an expanded, upgraded, and a more accessible medical network prompted us—as the Chairman of the Senate Committee on Finance—to augment funding for many hospitals including the Philippine Children’s Medical Center (PCMC), which we discussed in a previous column; the East Avenue Medical Center (EAMC); and the Philippine General Hospital (PGH). Initially, in the Executive’s pro-

posal for 2020, PCMC and EAMC funding were at P1.042 billion and P1.74 billion, respectively, while PGH funding, under the University of the Philippines Hospital Services Program, would amount to P6.024 billion. Through the intervention of the Senate, what was approved in the 2021 General Appropriations Act amounted to P1.933 billion, P2.17 billion and P6.872 billion, respectively. We discussed the fund augmentations made for PCMC in a previous column. Then for EAMC, we added P80 million for the construction of a radiation center, because the equipment for cancer treatment requires separate facilities. Then up to P15 million was reserved for a Molecular Diagnostic Laboratory, which will allow for reverse transcriptionpolymerase chain reaction (RT-PCR)

Justice based on evidence

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rothers and sisters, at the start of the New Year, the death of 23-year-old flight attendant Christine Angelica Dacera dominated the news. She was found lifeless in a hotel bathtub in Makati after a New Year’s party with her friends. After five days, the Philippine National Police declared her case “solved” after arresting three of her friends whom they pointed as suspects and accused them of rape with homicide. Because of this, the issue of rape is once again being loudly discussed. But where’s the evidence that determines what truly happened? According to PNP Chief Debold Sinas, he thinks the girl was raped because of the bruises, lacerations, and fluids found in Christine’s body. But it seems he cannot reveal the evidence to prove this conclusion, as the investigation is still ongoing. “We have evidence that we could not reveal now,” Sinas said. On the same day that PNP Chief Sinas reported that the girl was raped, Makati Chief Harold Depositar said that it was an aortic aneurism or the sudden burst of a vein in the heart that caused the death

of Dacera. This was most likely the result of the high alcohol level in her body. But according to Christine’s family, the autopsy conducted on her remains was not complete and comprehensive. After the PNP’s extension of 72 hours for the suspects to surrender, with the threat to conduct a manhunt for them, Makati City’s Prosecutor’s office ordered the release of the three suspects on January 6 due to the lack of evidence to prove their crime of raping the girl and if they were truly involved. This issue

By setting up satellite specialty hospitals in every region, we also beef up our health-care system and capacitate the other provinces to deal with Covid-19. The past year has been a taste of how serious medical disasters could potentially be in the future. We must strengthen our country’s health system now to address the challenges that will surely present themselves in the years to come.

tests for Covid-19. Meanwhile, P36 million was set aside to buy 20 dialysis machines, while up to P360 million will be allotted for maintenance and other operating expenses for the EAMC. And then another P252 million went up for the purchase of various equipment. Then for PGH, we pushed for an augmentation worth P2.331 billion. Of this amount, up to P1.54 billion will be for providing free medical services to mostly indigent patients in the coming year. Meanwhile, an estimated P600 million will be used to build a multi-specialty facility that will have departments for renal care, psychology, advanced laboratory services, and others. PGH will also be able to start construction on a microbial bank that will further support

The contradicting statements among the police add to the confusion and doubt, which tarnishes the credibility of the agency. It is unreasonable to declare a case “solved” based only on the perspective of the highest police official without sufficient evidence. on what happened to Christine further heated up alongside politicians’ offers of reward for anyone who can give information on the whereabouts of the remaining suspects. As for the released suspects, they said they didn’t commit any crime at all. Meanwhile, Christine’s family is still looking for clarity on what truly happened to her, and for justice if there is anyone guilty of the crime. The Catholic Church believes that there is no justice without truth. In the Catholic social teaching, justice and truth are needed to rebuild severed relations brought by crime or conflict. As said in St. John XXIII’s encyclical, “… [For] the order [to] prevail in human society… its foundation is truth, and it must be brought into effect by justice.” Punishing those who committed the crime, which must be proven in

research and development activities. We augmented the funds of EAMC and PGH in part because these facilities were at ground zero of the Covid-19 pandemic—which is the National Capital Region. But what if the next medical crisis happens in another part of the country? Are we prepared? This is one reason why I introduced the Satellite Specialty Hospitals Act of 2020 (SB 1873), which seeks to establish “annex” facilities for the various specialty hospitals, such as the National Kidney Institute, the Philippine Heart Center, Lung Center of the Philippines, and the Philippine Children’s Medical Center. By setting up satellite specialty hospitals in every region, we also beef up our health-care system and capacitate the other provinces to deal with Covid-19. The past year has been a taste of how serious medical disasters could potentially be in the future. We must strengthen our country’s health system now to address the challenges that will surely present themselves in the years to come.

Sen. Sonny Angara has been in public service for 16 years—nine years as Representative of the Lone District of Aurora, and seven as Senator. He has authored and sponsored more than 200 laws. He is currently serving his second term in the Senate. E-mail: sensonnyangara@yahoo.com| Facebook, Twitter & Instagram: @sonnyangara

court beyond reasonable doubt, is the way of justice. Which is why it is important to press: Where is the evidence? After discussions involving so many people on social media, debating whether or not the girl was raped or that aneurism was really the cause of her death, accompanied by heated arguments that lead to wrongful blaming of the girl being raped, we are deviated from determining the responsibility of the government to properly continue the investigation. The contradicting statements among the police add to the confusion and doubt, which tarnishes the credibility of the agency. It is unreasonable to declare a case “solved” based only on the perspective of the highest police official without sufficient evidence. Brothers and sisters, as the investigation continues, we must not base our judgement on speculations or news reports without strong evidence. We need to find the truth. As 2 John 1:2 said, “the truth lives in us and will be with us forever.” Make it a habit to listen to Radio Veritas 846 Ang Radyo ng Simbahan in the AM band, or through live streaming at www.veritas846.ph, and follow its Twitter and Instagram accounts @veritasph, and YouTube at veritas846.ph. For your comments, e-mail veritas846pr@gmail.com.

Opinion BusinessMirror

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The stolen presidential election in the US

America agonistes

There is no bad judgement here. No one is to blame; there is only America to praise for their suave and relentless if not quiet campaign to make us think of that country in terms of symbols, signs and signals, effective and affective all. We are so convinced of America we fought many of its wars: WW II, Korean War, Vietnam War….

the land. We have memorized their heroes and read the books of those great men and women. We even memorize the speeches of their great presidents—Lincoln with his Gettysburg Address (Four score and seven years ago our fathers brought forth on this continent a new nation, conceived in Liberty, and dedicated to the proposition that all men are created equal.); John F. Kennedy with his inaugural speech (We observe today not a victory of party but a celebration of freedom—symbolizing an end as well as a beginning—signifying renewal as well as change.) We even know Kennedy’s f–king middle name—Fitzgerald! We of course feel that does not make us pathetic but intelligent. Indeed, the intelligent Filipinos are in the States, favored by the system with a significant number worshipping now at the shrine of White America. We do not examine the fact that what we have are segmented and curated facts about America the good

Think of a country that we feel will embrace us for what we are. It is America. Think of a country whose history we are too familiar with. It is America. We know the history of Pilgrims but we do not care about “Indians.” We know the bravery of

country. We love apple pie but we do not care about the disenfranchised Filipino apple pickers and their narratives of legacy of fighting for labor rights when other ethnic groups were easily cowed by an unyielding structure.

Tito Genova Valiente

annotations

Manny F. Dooc

TELLTALES

azi Chief propagandist Joseph Goebbels has found ardent acolytes in President Donald J. Trump and his minions who depravedly embraced his dictum that “a lie repeatedly told becomes the truth.” Five days into Biden’s inauguration as the President of the US, Trump still peddles the lies that he won by a landslide over President-elect Joe Biden and that the last election was stolen from him through fraud and deceit. Trump and his partisans, including the conservative media, have stoked to his conservative base this preposterous claim without offering a scintilla of evidence.

The courts, election officials, state authorities, including his fellow Republican governors and secretaries of state, have unanimously dismissed Trump’s charges, earning his enmity and wrath. On the other hand, obsequious and fanatical followers who support his unprincipled cause gained his plaudits and rewards. After he was forced by his remaining advisers at the White House to denounce the riotous mob that stormed Congress, the country’s “citadel of democracy,” on January 6, Trump addressed them as “patriots.” And he told his mob of supporters, “Go home. We love you, you’re very special…. I know your pain, I know your hurt. We had an election that was stolen from us. It was a landslide election and everyone knows it, especially the other side.” Speaking of stolen presidential election in the US, the 1876 election case between New York Governor Samuel Tilden and Rutherford B. Hayes, a three-term Governor of Ohio, is a study in contrast from the Trump-Biden contest. Until the 2020 presidential tiff, historians considered the 1876 presidential election as the worst presidential contest in the US. But unlike Trump, the losing candidate, Tilden, who had been the heavily favored bet to win the election, had every right to question its final outcome, which he lost by the narrowest margin. The Democratic candidate, Tilden, lost to Republican Hayes by just one electoral vote, 185 to 184, despite the former winning the popular votes by over 200,000. The preliminary returns showed Tilden winning a clear victory over his Republican opponent. Even Hayes had serious doubt about his chances. Going into the closing days of the campaign, Hayes repeatedly wrote in his diary that he was pretty convinced that he would lose. Both candidates went to bed on election night believing that Tilden had won. Hayes and his wife Lucy retired to their bedroom consoled by the thought that at least they would not be uprooting their kids to move to Washington. But deep into the night, through a series of manipulations by Republican operatives led by “Devil Dan” Sickles, a notorious character in American history, he engineered Hayes’ overnight comeback. Sickles was a former Union General, an ex-member of the House of Representatives and the killer of Phillip Scott Key, the son of Francis Scott Key who composed the “Star Spangled Banner.” Sickles put up the defense of temporary insanity, which was the first time ever that such a defense was upheld by a US Court. He was named Ambassador to Spain by President Ulysses Grant but he came back to assist Hayes’ presidential campaign. Sickles himself recognized that his candidate had lost. Thinking that the election night would be unexciting, Sickles decided to watch a Broadway play and had a late dinner. On his way back to his flat on Fifth Avenue, just across the Republican National Headquarters in New York City, Sickles dropped by to check the election results. The whole place was empty except for one campaign staff who was packing up election paraphernalia, and

greeted Sickles by saying: “Tilden won the election and we’re all going home.” He also added that Zacharia Chandler, the Republican National Committee Chairman, had already gone to bed with a bottle of whiskey. Out of curiosity, he looked at the numbers, and added them up. He realized that if he removed the 19 electoral votes of the three closely contested states of Florida, Louisiana and North Carolina, and moved them under Hayes column, Hayes would win by one electoral vote. He immediately cabled the three Republican governors of the states and ordered them: “Hold on to your states. Troops and money will be furnished.” Tilden woke up the day after the election no longer the undisputed President-elect and that the presidential contest was still very much up in the air. The campaign teams of both parties rushed to the three states. A Republican National Committee Member brought a bag stashed with cash, which he distributed to the members of the Florida Election Commission and other influential people. The Election Commission decides who would get the certification to be sent to the Electoral College in Congress for the final tallying of the electoral votes on January 6, which is still being followed up to now. The Republicans led by the outgoing Governors of the 3 states sent their certification indicating that Hayes had won, while the Democrats through their incoming newly elected Governors submitted their own certification slate showing Tilden as the victor. Congress could not agree which of the two certifications to accept. An intense, long debate followed. Tempers flared and some solons pulled their guns on other members. It was a miracle that there was no shooting incident. To resolve the impasse, Congress formed an Electoral Commission made up of 15 members—5 from the House, 5 from the Senate and 5 from the Supreme Court. Of the 15, 7 would be Democrats, 7 would be Republicans and one independent—SC Justice David Davis. But before the body could convene, Davis was elected to the Senate representing Illinois. Congress scrambled for a replacement and named Justice Joseph Bradley that everyone thought was non-partisan. It was a complete disaster for the Democrats. After contentious hearings, the Commission delivered the electoral votes to Hayes by a total tally of 185 to 184. Thousands of African-American votes were invalidated and thrown out by the swing states ruled by Republican governors. While the electoral voting process was taking place, Washington was awashed with rumors that a secret army known as Tilden Minutemen and the Sons of Liberty would invade Washington and install Tilden as the President. President Grant sent massive military forces to guard the city against the mob. Warships were sailing up and down the Potomac River. But unlike Trump’s fanatical followers, no mob descended on Washington despite the credible allegation that the 1876 presidential election, the centennial founding anniversary of the US, was stolen.

hen we recovered from the shock, we realized there was nothing unusual about Americans attacking their own capitol. The death of democracy was how the democrats put it as if the killing of sovereignty of other nations was new to them. They prop up dictatorships until that dictator is of no use to them. Case in mind is Marcos. Think of all those despots and tyrants who made their marks in history because America was in their hearts and they were in the heart of the American government.

History, the alternative kind, has always proven our collective memory of the good America as blighted and bad. From cinema to personal accounts, the land of plenty and honey, the everlasting home of the brave, is not what we think it to be. We who write and think America are all products of education that is decidedly American—from the notion of free speech to the bravado of openness and the false sense of objectivity. We love it always when, placed side by side with other Asians, we stand firm and proud for being more Americanized than any one of them. If this comparison fails, then there is the fallback—our SpanishLatin verve. Therein lies the problem really with our colonial history (as if colonization is not evil enough) in our attitude to organically arrange in our mind Spain, America and Japan as corresponding to: cruel but religious; cruel at first but cool later; and simply cruel and mean. Spain has an excuse—Catholicism; Japan has no excuse except a legacy of godless years. America, in the meantime, has all the plus points of being our comrade-in-arms during a war, of delivering to us modernization and gifting us with global connection via a language that is inter-national. As for Japan, it is an afterthought, even up to now. One does not dream of Japanese citizenship; in a quick survey, many of us would want to die as Americans.

Friday, January 15, 2021

Resolutions and economics Alvin Ang

EAGLE WATCH

hird week into the New Year, it maybe that some people are struggling to meet the resolutions they have made this year. The last time the Social Weather Station (SWS) reported on the fulfillment of resolutions was in 2019. About 10 percent of those who made resolutions were able to fulfill them. In the same report, 67 percent of those surveyed no longer made any resolutions, so, effectively, the 10 percent came from the 33 percent who made some kind of resolution. The 67 percent who did not make resolutions were higher than the 53 percent in 2017. The survey does not have details on what kind of resolutions Filipinos make. In other platforms, we find that the most common resolution that people make has to do with losing weight, exercising or eating healthy. In a 2015 article, US News reported that 80 percent of those who made resolutions in January have given up by the middle of February or just six weeks after. The percentage is large and can more or less approximate the reasons why an increasing number of Filipinos are making less resolutions. It looks like a universal challenge in our modern society. However, as we are still in the middle of a pandemic and with most people still spending more time at home, it is possible for those who made resolutions this year to pull through a higher percentage.

According to the same US News article, the reason for giving up on resolutions has to do with the failure to see the objective in the mind. In short, it is not played well, not planned well and therefore not executed well. Resolutions involved change of behavior, activities and actions and therefore will face some kind of “emotional friction” as we are to give up habits in order to change. Forbes magazine in an article on January 12 also added into this discussion and suggested that since change is complicated, we must think of realistic goals, start small,

develop habits and track them. Researchers from Stockholm University also studied 1,066 people and found that those who framed their resolutions positively, e.g., I will wake up early (approach goal) vs I will avoid sleeping late (avoid goal), are 59 percent more successful in meeting them. These are good advise and give people a lot of handle to think about. However, we still need to operationalize them and make them workable in our context, especially with the pandemic. I believe many of the resolutions made this year still have to do with personal

I have come across a social experiment in a documentary show some years back where people eating in a restaurant are to put their phones in an elevated box of the dining table in front of their seat. Those who eat without tinkering with their phones will eat for free and those who respond to their phone’s call and text messages will have to pay double their bill. The experiment showed that majority held off the temptation, only two people did not.

growth, financial and family goals. Making resolutions is mainly in the realm of psychology. However, Economics can help “nudge” them into fulfillment using the most basic Economic principle called incentive. A branch of Economics that has been gaining attention recently, called Behavioral Economics, has been studying how people respond and react to the environment where choices are being given. Winners of the Nobel Prize in Economics in the last decade are Behavioral Economists—Daniel Kahneman, Richard Thaler, Robert Schiller, among others. Their work has helped design policies and institutions in order to lead to behavioral change. CNN recently reported on the research of Erika Kirgios of the University of Pennsylvania’s Wharton School on successful behavior change. Her research focused on the idea of temptation bundling, which is basically creating parallel incentives to nudge people to do something. She surveyed 6,000 members of a fitness club, 1/3 of whom were given audio

Our music is American music. Our local singers hitch their stars to the glitter of Las Vegas. You know those lines—if you can make it there, you can make it anywhere? New York, New York is not just a snappy tune; it is a song of goals and achievements. Disneyland, Broadway, Jazz they are our heartbeats. Mickey Mouse, Teddy Bear. Hollywood. We root for Ella, Billie, Louie, but we do not root for their sad histories. We love black music but do we love the Black? It is complicated, as we would describe our relationships online. We do not bother to think of this music as hidden for a long time, submerged under their white version, gentrified as usual. Or, haven’t you heard of Filipinos who do not find the movement of the Black Lives Matter important to them? When the videos of the Capitol siege were released, one photo stood out, that of a woman wagging a broom. A Filipina in the coup? Why not? We should be surprised that there was only one? Given the number of Pinoys cheering publicly for Trump, there should have been more. The Americans are now reeling after the siege and what is now defined as a coup. America is divided. One guy did it and they are incredulous about it. They should not be. America has always been that—a country with its arrogance passing off as the grandeur of the land, a civilization victorious in denying its many roles in the violence against and violation of other cultures. Commentaries after commentaries are accepting the truth: America, and its centuries-old experiment with the democratic ideas, is battered. Democracy will never be the same again. What happens now to the Philippines that looks up to America as the bastion of democracy? I guess, we just have to look for other models, other countries for inspiration, and make us aspire to greatness and greater freedom. Or we could look inside.

E-mail: titovaliente@yahoo.com

book and were advised to use it during exercise, another 1/3 were just given the audio book and the other 1/3 were not given. The result was that those in the first group were 10 percent to 14 percent successful in meeting their weekly exercise goals. Her study points to the power of clear incentives in behavior change. There can be a lot of variations to make this work. I have come across a social experiment in a documentary show some years back where people eating in a restaurant are to put their phones in an elevated box of the dining table in front of their seat. Those who eat without tinkering with their phones will eat for free and those who respond to their phone’s call and text messages will have to pay double their bill. The experiment showed that majority held off the temptation, only two people did not. The company of people experiencing the same incentive also helped the others hold off the temptation to get their phones. This simple example shows that for those trying to lose weight this year as a resolution, it will be good to plan it well like this. Set a realistic weight loss of 2 pounds a month and get a partner who has the same objective. Set a regular time for exercise and identify foods you will eat more. Each time that you fail to meet your schedule or ate the wrong food, you are to donate a fixed amount to something you do not like. This simple incentive mechanism, if properly executed, can help behavior change. If it can be done individually, we should consider the power of doing this for a vast number of our national behavior that requires change, like crossing the street.

A10 Friday, January 15, 2021

Fintech group, biz orgs seek speedy passage of CREATE

By Tyrone Jasper C. Piad @Tyronepiad

HE delay in enactment of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill is seen to threaten employment and investment inflow. With this, financial technology (fintech) group FintechAlliance.PH and 43 other private business groups are calling for the immediate enactment of the tax reform law. “Every day of delay comes at the risk of losing more jobs and hemorrhaging more investments,” their joint statement said. “CREATE is a historic economic reform, one of the largest in decades. As a stimulus package, CREATE will be a boost to market confidence, providing instant re-

lief to businesses suffering from business reverses due to the Covid-19 pandemic,” said the groups, which included a diverse range of business associations such as the Bankers Association of the Philippines, Management Association of the Philippines, Philippine Franchise Association, Philippine Life Insurance Association and the Money Market Association of the Philippines. “We particularly support the immediate reduction of corporate income tax [CIT] rate from 30 to

20 percent for small and medium enterprises earning net taxable income not exceeding 5 million pesos, and from 30 to 25 percent for all other corporations, effective July 1, 2020,” said the groups. “These would instantly bring the country’s CIT rate closer to the Asean average of 21.65 percent and give us more resources to retain our employees and to keep up with financial difficulties. As an investment-attracting move, the CIT cut also alters the financial prospectus of the Philippines for the better.” The groups expressed hope “the proposal to give flexible authority to the Fiscal Incentives Review Board [FIRB] and the President in granting both fiscal and non-fiscal incentives will make the tax incentives system an agile mechanism that can seize high-value investment opportunities.” While thanking Congress “for including proper safeguards against prevent abuse of discretion or making it a political tool to grant favors to undeserving recipients,” the groups urged both chambers— now locked in bicameral conference deliberations—“to move quickly and decisively to push CREATE forward and ensure its immediate enactment.”

FintechAlliance’s pitch

FintechAlliance.PH Chairman Angelito M. Villanueva, in a statement on Thursday, said that granting fiscal and non-fiscal incentives can attract more investments into the Philippines. In 2021 and 2022, the forgone revenues arising from lower CIT are estimated at P97.2 billion and P107.6 billion, respectively, according to the Finance department. The tax reduction is seen helping the companies to channel more funds into their operations and to retain employees. The fintech group added that the 10-year transition period for current holders of incentives should ease some concerns about the changes in the tax regime. “The fintech industry is committed to working with all stakeholders in swiftly rebuilding our economy amidst this pandemic.” According to the Philippines Fintech Report 2020, there are currently over 190 fintech players in the country, mostly offering services in lending, payments, digital wallets, and remittances. Bulk or over 90 percent of the digital financial transactions in the country are generated by the fintech group’s members.

79-DAY VEGGIE SUPPLY SHORTFALL PROJECTED By Jasper Emmanuel Y. Arcalas

@jearcalas

HE Philippines may suffer a 79-day shortage of vegetables this year as the Department of Agriculture (DA) pegged the supply shortfall at about 434,840 metric tons (MT). Data presented by the DA on Thursday showed it projected local vegetable production this year to reach 1.691 million metric tons (MT) while imports are pegged at 20,000 MT. The combined amount would bring the country’s total vegetable supply to 1.711 MMT. On the other hand, the DA estimated that total vegetable demand for 2021 would reach 2 MMT on the assumptions of a 110.198-million population and consumption of 18.24 kilograms per capita. The DA estimated other uses for vegetables—such as seeds, feeds and waste—at 136,934.09 MT. The DA data showed that the total net vegetable supply for the year could be at 1.574 MMT, which is sufficient to last for 286 days. The DA data indicated that the country’s vegetable supply deficit is at 434,840.62 MT or equivalent to a 79-day shortfall. The DA data also showed that the country’s vegetable sufficiency level is only at 77.4 percent for this

Key House blocs back Cha-cha to amend economic provisions

AJOR political parties and blocs in the House of Representatives have signed a manifesto of support for a proposal amending only the economic provisions of the 1987 Constitution. In the manifesto dated January 13, the political leaders vowed that the House will “deliberate only on the economic provisions” as specified in Resolution of Both Houses (RBH) No. 2 filed by Speaker Lord Allan Velasco and is now being taken up by the House Committee on Constitutional Amendments. The chairman of that panel, partylist Rep. Alfredo Garbin, had stirred a controversy on Wednesday when he claimed that his panel was already sitting “in the context of a Constituent Assembly” when it convened to amend the Constitution’s economic provisions even without the other members of the bicameral legislature.

Sotto rebuffs Garbin

Senate President Vicente Sotto III, noting that Congress is still on recess, dismissed Garbin’s assertion that “we are sitting as a Con-Ass, exercising our constituent powers,” and reminded everyone that Congress is still in recess. “The only way a Constituent Assembly can be initiated and considered to sit as one, is if it is done in plenary and session assembled,” the Senate leader said. Noting that lawmakers have yet to formally reconvene regular session on Monday, Sotto asserted “that is a simple committee hearing the [congressmen] are conducting.” At the same time, Sotto advised: “If we want to tinker with the Constitution, we had better make sure our rules and procedures are sharpened.” The Senate leader suggested the proper options after Garbin, sitting as chairman of the House panel on constitutional amendments, claimed that “the Constitution does not provide for the convening of the Constituent Assembly prior to making proposals for amendments to the Constitution.” Garbin added: “Neither is there any mention about a Constituent

Assembly in the Rules of the House of Representatives. Once Congress initiates the procedure to propose amendments to the Constitution, it is deemed to have entered into the exercise of its constituent powers.”

Boost to recovery—Velasco

Meanwhile, Velasco said he revived the Charter change talk to help the economy recover from the devastating impact of the coronavirus pandemic. “We believe that now is the most opportune time to resume the deliberation on the amendments to the economic provisions specified under RBH No. 2 for the primary purpose of mitigating and providing lasting solutions to the devastating economic effects brought about by the Covid-19 pandemic,” the manifesto by major political parties and blocs read. “In doing so, we hope to fortify and safeguard the foundations of our nation from future crises and curtail the severity of other economic regressions going forward.” They said the House will remain consistent with its position that when Congress proposes amendments to the 34-year-old Charter, “the House of Representatives and the Senate shall vote separately.” The proposed amendments will be submitted to the people for ratification simultaneously with the May 2022 national elections, they added. The signatories of the manifesto were House Majority Leader and Leyte 1st District Rep. Ferdinand Martin Romualdez for Lakas-NUCD, Deputy Speaker and Oriental Mindoro 1st District Rep. Salvador “Doy” Leachon, Rizal 1st District Rep. Michael John Duavit for the Nationalist People’s Coalition, Surigao del Norte 2nd District Rep. Robert Ace Barbers for the Nacionalista Party, Cavite 4th District Rep. Elpidio Barzaga Jr. for the National Unity Party, Davao City 3rd District Rep. Isidro Ungab for Hugpong ng Pagbabago, Deputy Speaker and 1-PACMAN Rep. Michael “Mikee” Romero for the Party-list Coalition Foundation Inc., and Aurora Rep. Rommel Rico Angara for the independent bloc. Continued on A2

year; and would rise to 78.4 percent if imports would be included. Responding to questions regarding the skyrocketing prices of vegetables today, the DA said Agriculture Secretary William D. Dar has ordered the expansion of its flagship Kadiwa program to facilitate the transportation of vegetables from producing regions to Metro Manila. The DA added that they are also expanding their urban agriculture program to boost vegetable supply in cities. Furthermore, the DA said it plans to construct processing facilities, trading houses, and bagsakan centers as medium-term plans to improve the country’s vegetable supply. The DA disclosed that the InterAgency Task Force (IATF) Task Group on Food Security has formed the creation of a sub task group on economic intelligence to determine where are the bottlenecks in the vegetable supply chain. Meanwhile, siling labuyo again regained the spotlight in recent weeks as its retail price shot up to an average of P800 per kilogram from P200 per kilogram in November. Based on the latest DA price monitoring report, the price of siling labuyo in Metro Manila even reached P1,000 per kilogram as of January 14.

Govt sets H1 goal: Give 5-M doses of Covid vaccine

HE government is now eyeing to administer 5 million doses of Covid-19 vaccine during the first half of the year. Presidential spokesman Harry Roque said the government set this target as part of its efforts to stop the spread Covid-19 and its more infectious variant from the United Kingdom (UK), B117, which is now spreading in more countries. “We would like to ensure that at least 5 million vaccines can be used by our people because the new variant, which is spread faster,” Roque said in an online press briefing on Thursday. He said most of the other shipment of vaccines already secured by the government will be arriving in the second half of the year. The government is targeting to vaccinate 50 to 70 million Filipinos this year. Chief implementer of the government’s national policy on Covid-19 Carlito G. Galvez earlier said they are confident of achieving this after successfully securing 137 million doses of vaccines from 7 pharmaceutical companies. He said they are anticipating the first batches of vaccines, which will arrive in the country will come from Pfizer-BioNTech, Sinovac, and AstraZeneca. On Wednesday, the Department of Health (DOH) reported the first Filipino, who was infected with the B117 variant of Covid-19. The Filipino tested positive for the B117 after traveling from the United Arab Emirates. The variant, first detected from UK, is at least 50 percent more infectious compared to common Covid-19. “We are not defenseless against the new variant. Regardless of which variant [of Covid-19] comes out, we only have to do what were already doing and that is wearing of [face] mask, hand washing, and physical distancing,” Health Secretary Francisco Duque III said. Continued on A2

Companies BusinessMirror

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Friday, January 15, 2021

Car sales plummet due to Taal, lockdowns

By Elijah Felice E. Rosales

@alyasjah

ar sales last year crashed by almost 40 percent as local vehicle assemblers had to shut down production and suspend distribution due to the health crisis and a volcanic eruption.

In a joint report on Thursday, the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and the Truck Manufacturers Asso-

ciation disclosed their sales last year declined 39.5 percent to 223,793 units, from 369,941 units in 2019. The plunge can be attributed to the

double digit slides in both passenger car (PC) and commercial vehicle (CV) segments. Broken down, sales of PCs dropped more than 36 percent to 69,638 units, from 109,197 units, while those of CVs plunged nearly 41 percent to 154,155 units, from 260,744 units. Last December automobile sales reached a total of 27,596 units, which is an improvement from the 23,162 units sold last November, but a decline either way from the 33,715 units sold during the same month in 2019. Campi President Rommel R. Gutierrez said the holidays contributed to the month-on-month increase in vehicle sales. “It is noteworthy that the holiday

season has contributed to the uptick in demand for auto sales in December amid the improving business and consumer confidence,” Gutierrez said. Likewise, sales of imported cars last year fell by almost 41 percent to 51,719 units, from 87,169 units in 2019, the Association of Vehicle Importers and Distributors Inc. (Avid) reported. Sales of imported PCs slid by over 45 percent to 16,588 units, from 30,484 units, while those of imported light commercial vehicles declined by close to 38 percent to 34,826 units, from 55,778 units. Worst is the bracket for imported CVs that endured a decline of two

Banks to lift PSEi this year–FMIC By VG Cabuag @villygc

orporate earnings could recover and grow by 10 percent to as much as 50 percent this year, but there will be no “spectacular bounce” given the volatility of the market, First Metro Investment Corp. (FMIC) said. The recovery of earnings, however, could drive the benchmark Philippine Stock Exchange index (PSEi) to climb to 7,800 to 8,100 points by year-end, while price earnings ratio is projected around 18 times to 19 times this year, Cristina Ulang, FMIC head of research, said during the investment bank's media briefing. She said the banks and property sectors will lead the way, but these

AirAsia online shop goes live in PHL

irAsia launched airasia Shop in the Philippines, further enhancing its digital platform to include convenient and value-for-money retail shopping, in partnership with its logistics venture, Teleport. The online shop allows Philippine customers to purchase a wide range of quality authentic products from categories such as Beauty, Fashion, Electronics & Gadgets, Health & Wellness, Kids products and exclusive airasia merchandise with affordable prices and from the comforts of their own home, conveniently delivered to their doorsteps. “Today is a momentous occasion as it marks the launch of airasia Shop in the Philippines, making it the second destination at which we have expanded our e-commerce presence in, and signifying the importance of the Philippine market to airasia. Through further partnerships and collaborations, we look forward to offering convenient and value-for-money travel retail shopping in the Philippines and consequently increasing our presence across Asean in the near future,” said Karen Chan, CEO of airasia.com. “As industries shift and continue to be shaped by our current situation, airasia will continue to innovate amazing product offerings and experiences for our guests and customers, which is why airasia is the leading travel, lifestyle and digital platform in the region," said Ricky Isla, CEO of AirAsia Philippines. To celebrate the launch, from January 14 until January 31, airasia Shop is offering a 50 percent discount on selected items and free door-to-door delivery (with no minimum purchase) for all purchases, through Teleport.

two were the most affected when the pandemic hit the markets hard last year, when the strictest lockdown was first implemented. The sectors posted loss of an average of 36 percent last year, but the forecasts were even higher at 70 percent. The banks were affected with its huge loan loss provisions, while the property sector were also hit due to low rental rates of shopping malls and slow residential sales. “There could be a base effect [on their recovery]. The banks benefit from the RRR [reserve requirement ratio] cut of the BSP [Bangko Sentral ng Pilipinas], increase liquidity... The banks will lead in terms of recovery, followed by the property as OFW purchases of residential also very encouraging,” Ulang said.

FMIC also expects more of the conglomerates to shift their fund raising activity to the equity markets to a ratio of about 50-50, unlike last year when 80 percent of the firms were in favor of raising funds through the bond market. “If the foreigners are coming, there may be a brisker market this year and the index heavyweights will benefit from any future re-balancing [of the benchmark index]. SM Prime, SM and telcos will be the leaders in terms of the additional weights in the PSEi,” she said. Last year, funds raised from the PSE reached only P104 billion, but the figure is still 3 percent higher than the previous year's P101 billion. In contrast, bond listings at the Philippine Dealing and Exchange

Corp. reached P387.83 billion for last year alone. Ulang said other recoveries were seen in the energy sector, except those with the capital recycling activity like AC Energy Philippines Inc. and Manila Electric Co., and also in the utilities sector, such as the telecommunications firms. FMIC said stock picking in investment should be "very selective" with preference for stocks with strong balance sheet, good earnings prospect, below market and below sector average valuation, and good dividend paying capability. It sees more listings this year with an initial public offering for both the main board and SME (Small, Medium, and Emerging) board, and also on real estate investment trust and other follow-on offerings.

Globe blocks 2,521 child-porn sites

lobe said it welcomes the government's recent attention to put a stop to online child pornography. No less than Cabinet Secretary Karlo Nograles has taken the cudgels to compel internet service providers (ISPs) like Globe to stand against this criminal activity. The company said that since the passage of Republic Act 9775 which took effect in 2009, it has been actively supporting government efforts to combat online child pornography. The law mandates all ISPs to install available technology, program or software to ensure that access to or transmittal of any form of child pornography will be blocked or filtered. "Globe was able to block a total of 2,521 sites that have been identified by law enforcement agencies, endorsed by the National Telecommunications Commission for blocking, or identified through our own Security Operations Center intelligence," the company said in a statement. To comply with the law, Globe earlier invested in a content-filtering system, costing the company $2.7 million to support its “PlayItRight” advocacy program, targeting illegal/pirated content and online child pornography.

"There is a need for the lawmakers and law enforcers to address certain realities especially on how the internet works in order for ISPs to effectively help in addressing this issue," said Anton Bonifacio, Globe chief information security officer. "The filtering software can be viewed as an important first step but more needs to be done. The digital ecosystem has evolved rapidly and ISPs cannot win this battle alone." These illegal sites are generally not inside or hosted in the ISP's servers, just as much as Facebook, YouTube, or Google isn't. They are usually hosted in the cloud, or off-shore servers, and fully encrypted, which limits the effectiveness of our content-based filters. According to studies, over 80 percent of the Internet is now served through HTTPs or use SSL encryption. "In effect, we actually have a very limited view of the content unless we break the encryption, which would be difficult to do without

being intrusive to our customer's devices," said Bonifacio. In addition, these illicit activities use various popular social media platforms to make their content readily accessible. According to UNICEF, one of the highly popular platforms being used for these types of content is Tiktok. These are easily accessible and shareable to others, and impossible to block without blocking the entire platform completely. "The only way to curb this content at these types of platforms is for the government to also pressure social media platforms or content providers to stop delivering this type of content to consumers," the company said. "Child pornography is a reprehensible crime that should rightfully be curtailed." Globe said it continues to work with the relevant government agencies including the Department of Information and Communications Technology, Department of Justice, and industry partners like the Philippine Chamber of Telecommunications Operators and UNICEF to do all it can to help protect children from falling victims to this crime.

Francis Lim is now at the helm of FINEX

rancisco ED. Lim will be formally inducted as president of the Financial Executives Institute of the Philippines (FINEX), along with his Board of Directors, on January 15. The members of the new FINEX board are Euney Marie Mata Perez, EVP and Corporate Secretary; Michael Arcatomy Guarin, VP-Internal Affairs; Augusto Bengzon, VP-External Affairs; Consuelo Garcia, VP-Capital Market Development; Senen Matoto, VP-Good Governance; Omar Cruz, VP-Professional Development; Wilson Tan, Treasurer; and Directors Hilaria Concepcion, Edith Dychao, Domingo Go, Ronald Luis Goseco, Arleen May Guevara, Florencia Tarriela, and Stephanie Zulueta. The FINEX theme for this year is “Transcending New Frontier. Leading Beyond Recovery.” In its storied 53-year history, FINEX has had a number of lawyers serving as President of the country’s foremost finance organization. But never before has it elected a legal eagle with a stock market background until Lim

was chosen by his peers to lead FINEX in 2021. Francis was the President and CEO of the Philippine Stock Exchange (PSE) from 2004 to 2010. During his stint at the PSE, he joined FINEX and held key positions in various institutions such as the PSE Foundation, the Securities Clearing Corporation of the Philippines, the Capital Market Development Council, the Philippine Dealing and Exchange Corporation, and the Securities Investors Protection Fund. Since then, Francis has served as President of the Management Association of the Philippines, President of the Shareholders Association of the Philippines, Trustee of the FINEX Research and Development Foundation, Trustee of the CIBI Foundation, and Trustee of the Judicial Reform Initiative. He continues to be active in the Institute of Corporate Directors, the Philippine Judicial Academy, and several committees in the Supreme Court. All these while working at ACCRALAW as Senior Partner specializing in corporate law and litigation; teaching law at the Ateneo

de Manila University School of Law and the San Beda University Graduate School of Law; and sitting on the boards of PSE-listed firms Energy Development Corp. and Converge ICT Solutions Inc. as well as non-listed companies Alphaland Corp., DHL Summit Solutions Inc., Producers Savings Bank Corp., and The Insular Life Assurance Co. Ltd. His long array of accolades from international and domestic institutions are complemented by an equally lengthy list of laws that Lim assisted during the enactment process such as the Real Estate Investment Trust Act, the Personal Equity Retirement Account Act, the Philippine Competition Act, the Financial Rehabilitation and Insolvency Act, and the Credit Investment System Act. Armed with a Bachelor of Laws degree from the Ateneo de Manila University and a Master of Laws degree from the University of Pennsylvania, Lim was admitted to both the Philippine Bar and the New York State Bar. He has authored several books and articles published by local and global publications.

thirds to 305 units, from 907 units, Avid disclosed. Avid President Marie Fe PerezAgudo argued the automotive industry endured one of the worst damages last year, dating from the Taal Volcano eruption in January, to the spread of the virus beginning February. Both the natural calamity and the health crisis forced vehicle firms to shut down their assembly plants and dealerships nationwide. “Automotive was among the hard hit sectors in this pandemic and we continue to feel the impact as sales, after-sales and auto-related services remain lackluster,” Agudo said. Agudo added the industry is expected to suffer another setback this

year, as the Department of Trade and Industry (DTI) slapped additional tariffs on imported units. Last week the DTI decided to impose a safeguard per unit of P70,000 for PC and P110,000 for LCV to protect local makers from the surge of imports. “While the worst may be behind us, we still have a long way to go,” she said. “If we are to restore consumer confidence and revive this sector, we should focus on creating more job opportunities, upgrade infrastructure and logistics, and improve the ease and cost of doing business,” she added. “We are all for the long-term development of the auto industry in the new normal.”

Ang: Game-changing Skyway 3 now open

resident Duterte and his economic team formally opened on Thursday the new Skyway Stage 3 expressway, considered a game-changing infrastructure project by San Miguel Corp. (SMC) that is expected to provide a major boost to the country’s post-pandemic recovery. Duterte, together with SMC President Ramon S. Ang, led the ceremony to officially open all seven lanes of Skyway 3, which seamlessly connects the South Luzon Expressway (SLEX) and North Luzon Expressway (NLEX), via 18 kilometers of elevated toll road, the longest in the country. It is also expected to significantly decongest EDSA and other major Metro Manila roads. Duterte was joined by Executive Secretary Salvador Medialdea, Finance Secretary Carlos G. Dominguez, Public Works and Highways Secretary Mark Villar, Transportation Secretary Arthur Tugade, Budget Secretary Wendel Avisado, Presidential Spokesperson Harry Roque and National Task Force against Covid-19 Deputy Chief Implementer Vince Dizon. Ang credited President Duterte for his strong leadership and political will, which he said played a significant role in settling right-of-way issues that delayed the massive infrastructure project for years. “Because of the strong leadership of President Duterte, and with the help of his handson Cabinet secretaries and economic team, we were able to finally resolve right-of-way issues and complete Skyway 3,” Ang said. “This is a game-changer for our economy, especially now that we are still dealing with the pandemic. By providing seamless access between north and south, we also unlock the true potential of our provinces." With the full opening of all seven lanes of the 18-kilometer Skyway 3 from Buendia, Makati to NLEX, ang Ang said a huge number motorists will now have an alternative to EDSA. Since its soft-opening last December 29-free to the public until February 1—some 71,000 vehicles per day have been passing through Skyway 3, using only four lanes initially opened. “At full capacity, with 7 lanes available, Skyway can easily handle 50 percent of Edsa traffic, or 200,000 vehicles per day. Together with the existing Skyway 1 and 2, the Skyway system now has 38 kilometers of elevated expressway with 36 on- and off-ramp access points. This will greatly contribute to decongesting Metro Manila traffic,” Ang noted. To fastrack construction, SMC purchased all the properties along the project’s right-of-way, in order to meet the owners’ requirements. The company also funded the re-construction of three bridges, the San Juan Bridge, Concordia Bridge, and Sevilla Bridge. Though not part of Skyway, these old bridges near its alignment had to be demolished and rebuilt as they had deteriorated over time and had become a safety hazard. Ang committed to Duterte that SMC’s efforts to help the country and the economy, will not stop with the Skyway Stage 3 project. “We will continue work to further decongest Metro Manila by linking east and west of the metropolis, through the Pasig River Expressway (Parex) project,”Ang said. The Pasig River Expressway project is a 19.4-kilometer, six-lane elevated expressway along the banks of the Pasig River that will complete the north-south, east-west link, connecting R-10 in Manila, Edsa, and C5 and decongesting Rizal, Cainta, and Marikina. It will

provide faster, alternative access to the business districts Makati, Ortigas, and BGC. He said the project can be completed by 2023. Meanwhile, Ang said work has also started for the construction of the Manila International Airport project in Bulacan province, a sustainable solution to decongesting air traffic congestion in the country. Touted as the single-largest investment ever in the Philippines, the airport project will connect to major thoroughfares in the metropolis. It will have four-parallel runways and modern, world-class facilities. Ang set the opening date of the massive airport project for 2025. Two major expressways connecting to the airport will also open by 2023. Meanwhile, the ongoing Skyway Extension project, which will extend Skyway’s reach in the south, to Susanna Heights, Muntinlupa, is set for completion this year. Both the Parex and Bulacan airport projects are to be connected to the Skyway system, further extending the country’s infrastructure network. Ang also highlighted the job-creating capabilities of new, major infrastructure projects. Apart from the workforce required to build them, they also give rise to many smaller industries and boost local economies. The Bulacan airport project in particular, is estimated to generate 30 million direct and indirect jobs, Ang said. “All of these, Mr. President, will solve our decades-long problem of land and air traffic congestion. Together, we are building the foundation for future economic growth that’s inclusive and sustainable. We are also investing in many other industries across the regions, from food and beverage production, agriculture, power security and soon, renewable energy. This is the best way we can meaningfully contribute to nation-building. We are committed to sustainably re-invest what we have, create more business opportunities, generate more jobs, and spread growth across the archipelago.” Ang, who was celebrating his birthday, also dispelled speculation that he is eyeing a political run. “Perhaps because of our company’s efforts to help our country, many are thinking I am planning to enter politics. I have no such ambition. All these projects we’ve completed, and all the new ones we’re about to start, are part of our long-term vision we first articulated more than a decade ago, when we said we wanted to be a true partner in nation-building,” Ang said. “We have always believed that SMC can do a lot to help our country, by investing in industries and sectors that will accelerate its growth. We love our country, it’s the only one we have, so we should all do what we can to lift it up and help Filipinos. This pandemic has only made that commitment deeper and stronger.” Meanwhile, Ang cited Villar and the Metro Pacific Tollways Group, operator of the NLEX, and business tycoon Manny V. Pangilinan, for making possible the extension of the original endpoint of Skyway 3, to just before the NLEX toll plaza. “Finally, we now have a seamless connection between SLEX and NLEX. I thank Secretary Villar and the MVP group led by Mr. Pangilinan for making this direct link to NLEX possible,” he said. He also paid tribute to engineers and workers who worked on Skyway 3, and all stakeholders who helped make the project a reality. “What you see here is the product of the talent and skills of our very own Filipino engineers and workers. It is the result of years of hard work and collaboration between the government and the private sector,” he said.

Friday, January 15, 2021

Companies BusinessMirror

Fruitas sets capital spending at ₧270M F By VG Cabuag

@villygc

ruitas Holdings Inc., the operator of various food and beverage kiosks, on Thursday said it has allocated P240 million to P270 million for capital expenditures this year, a chunk of which will be used for its expansion and the acquisition of another firm. The company said it will add at least 100 kiosks and 70 community stores to its network this year. This will boost Fruitas’ network to about 1,100 kiosks and 100 community stores by the end of 2021. The increase in kiosks will come from both additional locations for its existing brands and new kiosks for its emerging concepts. Fruitas said it will expand community stores beyond Metro Manila to include key cities in Luzon, Visayas and Mindanao. Fruitas expects to launch at least two new concepts as early as the first quarter of the year. “We had a temporary setback in terms of operating results in 2020, but we were able to successfully execute numerous initiatives to broaden product breadth and client reach. There are still abundant opportunities to generate growth and improve margins. Our stronger footing post-pandemic makes us confident about 2021,” Lester Yu, the company's president and CEO, said. For the year, the company said it is earmarking

some P150 million for network expansion, P70 million to P100 million for acquisitions and development of new concepts and P20 million for commissary expansion. Fruitas is in discussions with potential product partners to include additional items to sell through its network and distribution partners to widen the sales channels of Fruitas products. “The enhancement of its delivery channel continues, with plans to expand delivery beyond Metro Manila and Cebu in the near-term. Certain community stores will formally be designated as delivery hubs to shorten turnaround time,” the company said. Fruitas is also reviewing opportunities to acquire potential targets and expand abroad, initially within Asia, but intends to pursue these in a disciplined manner, it said. The company said its revenues in the fourth quarter last year increased by around 60 percent compared to the third quarter. It did not give figures. For the third quarter of 2020 alone, the company's revenues reached P166.56 million, down 63 percent from last year. For the three quarters of the year, the company's revenues reached P628.61 million or just half of the previous year's P1.39 billion as the pandemic took its toll on its operations. For the period, it had a loss of P32.22 million, down from the previous year's income of P53 million.

Smart Araneta Coliseum opens 2021 with virtual Wish Music Awards

f t er mont hs of qu a ra nt ine loc kdown, the Big Dome comes alive this year with an OPM celebration brought by the much-anticipated Wish 107.5 Music Awards. The 6th annual Wish Music Awards will be broadcasted live from the Smart Araneta Coliseum on January 17 with Gretchen Ho and Christian Bautista as hosts. Since mass gathering remains prohibited under the latest quarantine restrictions, the audience will have the chance to view the Livestream on the official Youtube page of Wish FM. (https://www.youtube.com/ user/WishFM1075official). The lineup of performers includes Asia’s Soul Supreme Kristine KZ Tandingan, hip-hop phenomenon Gloc-9, folk-pop ensemble Ben&Ben, P-Pop breakthrough SB19, pop troupe Music Hero, iconic OPM band Parokya ni Edgar, rising rapper Michael Pacquiao, singer-song w r iters Clara Benin, Leanne and Naara, Reese Lansangan, Keiko Necesario, vocal group The Wishfuls, and Australian singer-songwriter Guy Sebastian. Winners from 20 categories will be named. Among the categories is the newly-created and timely Best Quarantine-Produced Song, which recognizes OPM artists "who have challenged the limitations brought forth by the pandemic to come up with a fresh release that best resonates with people during these challenging times." The winners will be determined based on public voting and on a panel of judges. In 2020, the Big Dome was able to stage events such as the sold-out Valentine concert of Regine Velasquez and Sarah Geronimo in February, and the opening of the 45th season of the Philippine Basketball Association (PBA) in March before the Covid-19 pandemic temporarily closed down the coliseum.

mutual funds

January 14, 2021

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 230.08 -8.32% -8.49% -0.22% 1.44% ATRAM Alpha Opportunity Fund, Inc. -a 1.3296 -0.62% -6.52% 4.84% 1.57% ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.1755 -10.28% -12.29% -1.34% 1.51% Climbs Share Capital Equity Investment Fund Corp. -a 0.8099 -7.98% -7.3% n.a. 1.12% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.749 -11.28% n.a. n.a. 1.01% First Metro Save and Learn Equity Fund,Inc. -a 5.0162 -5.01% -6.34% 0.48% 1.7% First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.7661 -9.72% -8.91% -4.74% 0.92% MBG Equity Investment Fund, Inc. -a 102.8 0.58% -4.51% n.a. 2.07% PAMI Equity Index Fund, Inc. -a 47.4943 -6.88% -6.37% 1.6% 1.62% Philam Strategic Growth Fund, Inc. -a 495 -6.61% -6.4% 0.68% 1.42% Philequity Alpha One Fund, Inc. -a,d,5 1.1097 8.32% n.a. n.a. 2.61% Philequity Dividend Yield Fund, Inc. -a 1.1858 -7.45% -6.04% 1.42% 2.01% Philequity Fund, Inc. -a 35.2413 -6.41% -5.73% 2.14% 1.86% Philequity MSCI Philippine Index Fund, Inc. -a 0.9254 -8.52% n.a. n.a. 1.71% Philequity PSE Index Fund Inc. -a 4.8587 -6.49% -5.94% 2.39% 1.63% Philippine Stock Index Fund Corp. -a 813.02 -6.27% -5.82% 2.35% 1.66% Soldivo Strategic Growth Fund, Inc. -a 0.7294 -11.11% -9.69% -2.04% 1.5% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.6736 -11.92% -7.94% 0.6% 1.47% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.9307 - 6.52% -6.11% 2.16% 1.65% United Fund, Inc. -a 3.3569 -7.9% -5.15% 2.82% 1.23% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 109.0891 - 6.2% -5.58% 3.1% 1.67% Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b $1.2938 24.45% 4.16% 9.89% 9.12% Sun Life Prosperity World Voyager Fund, Inc. -a $1.7041 22.32% 9.54% n.a. 2.08% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.6878 9.21% -3.8% 0.3% 1.31% ATRAM Philippine Balanced Fund, Inc. -a 2.3094 7.08% -2.51% 2.46% 1.32% First Metro Save and Learn Balanced Fund Inc. -a 2.6506 1.55% -1.69% 0.93% 1.03% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.2003 -12.07% n.a. n.a. 1.01% NCM Mutual Fund of the Phils., Inc. -a 1.9816 1.23% -0.65% 2.69% 0.9% PAMI Horizon Fund, Inc. -a 3.8134 1.22% -1.46% 2.02% 0.79% Philam Fund, Inc. -a 17.057 1.2% -1.48% 1.96% 0.85% Solidaritas Fund, Inc. -a 2.1131 -0.58% -2.49% 1.72% 0.97% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.6031 -6.05% -4.01% 0.83% 1.11% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 1.0288 2.3% n.a. n.a. 0.71% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.9589 -3.23% n.a. n.a. 1.21% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.9436 -4.47% n.a. n.a. 1.33% Sun Life Prosperity Dynamic Fund, Inc. -a 0.8986 -6.94% -4.65% 0.19% 1.27% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.0388 1.49% 2.39% 1.86% -0.87% PAMI Asia Balanced Fund, Inc. -b $1.197 14.74% 3.48% 7.55% 4.76% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.5743 16.14% 7.2% 8.87% 1.61% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.2054 8.42% 3.88% n.a. 0.48% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 371.16 3.64% 3.26% 2.84% 0.04% ATRAM Corporate Bond Fund, Inc. -a 1.9021 -0.07% 0.13% 0.12% 0.11% Cocolife Fixed Income Fund, Inc. -a 3.216 3.11% 4.45% 4.8% 0.07% Ekklesia Mutual Fund Inc. -a 2.2945 3.27% 2.9% 2.39% -0.08% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4502 4.27% 3.37% 2.16% -0.1% Philam Bond Fund, Inc. -a 4.6274 6.5% 4.57% 3.05% -0.09% Philam Managed Income Fund, Inc. -a,6 1.3205 5.62% 4.47% 2.71% -0.04% Philequity Peso Bond Fund, Inc. -a 3.9845 6.07% 4.52% 2.97% -0.4% Soldivo Bond Fund, Inc. -a 1.0393 8.35% 4.08% 2.55% -0.21% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1984 4.72% 4.8% 3.52% -0.06% Sun Life Prosperity GS Fund, Inc. -a 1.7477 3.72% 4.05% 2.91% -0.36% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $483.4 3.1% 2.7% 2.86% -0.08% ALFM Euro Bond Fund, Inc. -a Є219.3 -0.17% 0.83% 1.25% 0.07% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2579 4.1% 3.56% 2.8% -1.76% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0263 1.94% 1.7% 1.59% -1.13% PAMI Global Bond Fund, Inc -b $1.0848 -1.17% 0.48% 0.57% -0.74% Philam Dollar Bond Fund, Inc. -a $2.5136 4.4% 3.75% 3.42% -0.81% Philequity Dollar Income Fund Inc. -a $0.0622128 3.01% 2.86% 2.31% -0.32% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.189 0.18% 1.88% 2.23% -1.04% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 129.89 3.15% 3.35% 2.58% 0.07% First Metro Save and Learn Money Market Fund, Inc. -a 1.0482 1.85% n.a. n.a. 0.02% Sun Life Prosperity Money Market Fund, Inc. -a 1.2974 2.5% 2.98% 2.61% 0.07% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0528 1.45% 1.77% n.a. 0.04% Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 1.1555 n.a. n.a. n.a. 3.73% Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $0.99 -1% n.a. n.a. 1.02% a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. d - in Net Asset Value per Unit (NAVPU). 1 - Launch date is September 28, 2019. 2 - Launch date is November 15, 2019. 3 - Adjusted due to stock dividend issuance last October 9, 2019. 4 - Renaming was approved by the SEC last October 12, 2018 (formerly, One Wealthy Nation Fund, Inc.). 5 - Launch date is December 09, 2019. 6 - Re-classified into a Bond Fund starting February 21, 2020 (Formerly a Money Market Fund). 7 - Launch date is July 6, 2020. "While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www. pifa.com.ph to see the latest NAVPS/NAVPU."

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PSE STOCK QUOTATIONS

January 14, 2021

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

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

44 112.7 85.4 25.6 10.36 49.5 11.24 27.8 55.3 97.6 18.08 138.1 70.05 0.96 4.84 0.58 4.48 1.65 0.415 890 0.8 153 2,170 1.03

44.95 113 86.2 25.7 10.4 49.75 11.94 27.85 55.55 114.9 18.5 138.3 70.4 1 4.86 0.63 4.5 1.67 0.42 898 0.82 154.4 2,188 1.07

44.95 109.5 85.4 25.75 10.32 48.5 11.2 27.9 55.2 97.6 18.2 132 70.05 0.95 4.9 0.63 4.67 1.63 0.44 890 0.79 153 2,170 1.02

44.95 113 86.25 25.8 10.44 49.95 11.2 27.95 55.5 97.6 18.5 138.3 70.05 1 4.97 0.63 4.73 1.72 0.44 890 0.82 154 2,170 1.08

43.55 108.7 84.55 25.6 10.1 48 11.2 27.8 55 97.6 18.02 131 69.5 0.95 4.76 0.63 4.21 1.63 0.405 890 0.79 153 2,170 1.02

44 113 86.2 25.7 10.36 49.5 11.2 27.85 55.5 97.6 18.5 138.3 70.05 1 4.86 0.63 4.48 1.67 0.425 890 0.82 154 2,170 1.03

10,900 476,345 7,201,380 804,834,500 2,121,690 182,306,414.50 106,400 2,731,725 1,549,600 15,991,596 3,764,200 186,095,700 5,600 62,720 159,400 4,442,865 4,920 271,657.50 40 3,904 31,400 577,268 1,072,490 146,159,156 7,090 496,039 2,000 1,950 668,000 3,245,970 20,000 12,600 748,000 3,343,450 573,000 948,760 2,120,000 881,950 300 267,000 1,505,000 1,202,360 5,020 771,569 100 217,000 61,000 62,850

44,000 407,693,150 36,251,359.50 -66,640 -4,339,198 63,890,315 -142,005 -185,000 27,826,615 -71,450 -50,000 67,300 -295,670 -

INDUSTRIAL AC ENERGY 6.64 6.65 6 6.75 5.8 6.65 107,427,400 684,516,639 1.28 1.3 1.28 1.3 1.26 1.3 663,000 845,130 ALSONS CONS 26.05 26.35 26.6 26.7 26.05 26.05 4,139,300 109,095,355 ABOITIZ POWER 1.05 - 1.05 1.05 0.9 1.05 540,008,000 553,396,090 BASIC ENERGY 31.65 31.75 31 32 30.1 31.75 1,661,900 52,352,430 FIRST GEN 80.05 82 80 82.5 79.1 82 143,100 11,723,927 FIRST PHIL HLDG 290.2 292 298.6 299 290.2 290.2 517,870 151,604,706 MERALCO 16.78 16.8 17 17 16.52 16.8 462,200 7,776,940 MANILA WATER 3.88 3.89 3.95 3.96 3.88 3.89 4,575,000 17,846,520 PETRON 3.62 3.7 3.62 3.74 3.53 3.7 98,000 360,270 PETROENERGY 12 12.18 11.52 12.2 11.52 12 109,400 1,315,620 PHX PETROLEUM 21.35 21.4 21.2 21.5 21 21.4 223,100 4,752,155 PILIPINAS SHELL 9.93 9.98 10 10 9.91 9.98 165,800 1,650,609 SPC POWER 14 14.74 14 14 14 14 47,900 670,600 VIVANT 7.85 7.97 7.64 8.09 7.63 7.98 603,700 4,720,237 AGRINURTURE 3.38 3.39 3.35 3.39 3.28 3.39 1,607,000 5,368,520 AXELUM 70.95 76.85 76.85 76.85 76.85 76.85 200 15,370 BOGO MEDELLIN 14.1 14.88 14.02 15.16 13.92 14.1 10,400 147,626 CNTRL AZUCARERA 19.02 19.08 19.02 19.32 18.92 19.08 1,065,500 20,393,880 CENTURY FOOD 8.1 8.12 7.84 8.5 7.65 8.12 281,600 2,275,879 DEL MONTE 7.53 7.6 7.6 7.72 7.48 7.53 2,649,000 19,979,758 DNL INDUS EMPERADOR 9.96 10 9.85 10 9.83 10 3,012,600 30,035,918 SMC FOODANDBEV 68.85 69 68.7 69 67 69 266,470 18,228,946.50 ALLIANCE SELECT 0.64 0.65 0.65 0.68 0.64 0.65 3,906,000 2,566,360 FRUITAS HLDG 1.74 1.75 1.72 1.77 1.65 1.75 43,028,000 73,397,630 GINEBRA 51.1 51.2 51.95 51.95 51 51.2 60,550 3,104,290 JOLLIBEE 196.7 196.9 197 198 195.5 196.9 1,121,050 220,809,017 LIBERTY FLOUR 38 39 38 39 38 38.9 3,100 119,775 8.04 8.37 7.81 8.39 7.81 8 1,900 15,087 MACAY HLDG 7.01 7.02 7.15 7.15 7 7.02 487,700 3,429,815 MAXS GROUP MG HLDG 0.395 0.4 0.34 0.425 0.3 0.395 141,010,000 52,596,850 SHAKEYS PIZZA 7.73 7.8 7.6 7.73 7.53 7.73 100,800 765,490 ROXAS AND CO 1.25 1.26 1.29 1.33 1.24 1.26 11,049,000 14,099,200 RFM CORP 4.58 4.67 4.68 4.68 4.58 4.58 6,000 27,980 1.72 1.76 1.74 1.82 1.71 1.76 146,000 256,730 ROXAS HLDG SWIFT FOODS 0.137 0.138 0.129 0.137 0.122 0.137 13,180,000 1,696,120 UNIV ROBINA 156 158.9 156 159 155.1 156 404,900 63,453,533 VITARICH 0.92 0.93 0.94 0.94 0.91 0.92 5,067,000 4,694,700 VICTORIAS 2.32 2.44 2.3 2.3 2.3 2.3 7,000 16,100 52.45 53.9 52.45 54 52.45 54 1,150 60,460.50 CONCRETE A 54.9 59.7 54.9 54.9 54.9 54.9 150 8,235 CONCRETE B 1.47 1.49 1.49 1.49 1.47 1.47 7,536,000 11,137,470 CEMEX HLDG 5.3 5.46 5.6 5.6 5.25 5.3 120,500 658,751 DAVINCI CAPITAL 14 14.04 14.1 14.1 13.88 14 96,300 1,344,960 EAGLE CEMENT 7.32 7.34 7.21 7.35 7.21 7.32 1,411,100 10,324,841 EEI CORP 7.12 7.14 7 7.15 6.81 7.12 1,669,200 11,663,600 HOLCIM 8.17 8.18 8.24 8.25 8 8.18 2,544,500 20,636,860 MEGAWIDE 9.7 9.9 9.9 9.9 9.9 9.9 800 7,920 PHINMA 2.08 2.09 1.86 2.2 1.85 2.09 18,093,000 37,505,220 TKC METALS 1.3 1.31 1.32 1.34 1.27 1.3 3,558,000 4,652,410 VULCAN INDL 1.84 1.85 1.82 1.85 1.82 1.85 47,000 86,190 CROWN ASIA 2.46 2.49 2.52 2.59 2.4 2.49 1,557,000 3,868,160 EUROMED 4.1 4.48 4.16 4.16 4.1 4.1 4,000 16,580 LMG CORP 4.31 4.6 4.67 4.67 4.52 4.52 9,000 41,240 MABUHAY VINYL 5.35 5.43 5.45 5.45 5.2 5.3 47,800 253,310 PRYCE CORP 22.1 22.8 22.3 22.4 22 22.1 20,800 460,705 CONCEPCION 3.07 3.1 3.04 3.13 2.94 3.1 17,663,000 54,053,030 GREENERGY 9.06 9.1 8.89 9.15 8.75 9.1 869,100 7,807,694 INTEGRATED MICR 1.27 1.3 1.29 1.34 1.26 1.3 684,000 887,050 IONICS 5.3 5.42 5.42 5.42 5.42 5.42 1,000 5,420 PANASONIC SFA SEMICON 1.49 1.5 1.53 1.53 1.44 1.49 2,231,000 3,311,370 CIRTEK HLDG 7.89 7.9 8.15 8.16 7.82 7.89 11,641,100 92,688,434

3,060,686 12,700 -26,538,420 98,578,450 -3,964,460 -985,369.50 -46,829,898 1,089,798 -777,010 -22,200 1,396,060 70,444 291,091 -37,720 4,218,822 394,700 1,645,712 4,161,051 -1,119,481 67,000 259,630 2,306,565 -111,442,920 58,445 -6,099,600 68,040 657,080 -40,590 -135,000 -1,685,327 360,240 -950,190 -7,728 -657,698 1,223,831 37,680.00 -13,000 68,115 5,642,960 -2,181,691 10,390 75,750 1,968,095

HOLDING & FRIMS ABACORE CAPITAL 0.73 0.74 0.71 0.75 0.7 0.73 25,173,000 18,074,530 8.92 9.25 9.5 9.5 8.89 9.25 33,600 302,922 ASIABEST GROUP 808 810 810 825 808 808 339,790 277,016,850 AYALA CORP 46.6 47.25 46.05 47.45 46.05 46.6 1,664,300 77,536,870 ABOITIZ EQUITY 10.06 10.1 10.1 10.14 9.96 10.06 4,105,500 41,310,142 ALLIANCE GLOBAL 3.11 3.12 3.16 3.16 3.06 3.12 4,311,000 13,428,540 AYALA LAND LOG 6.76 6.78 6.76 6.78 6.6 6.78 13,400 90,362 ANSCOR 0.81 0.83 0.84 0.84 0.8 0.83 3,303,000 2,696,490 ANGLO PHIL HLDG 0.86 0.87 0.87 0.89 0.86 0.86 3,383,000 2,943,690 ATN HLDG A 0.88 0.89 0.88 0.92 0.88 0.89 26,000 23,020 ATN HLDG B 5.55 5.56 5.53 5.56 5.42 5.56 646,600 3,552,354 COSCO CAPITAL 5.36 5.38 5.37 5.43 5.36 5.36 4,474,200 24,048,561 DMCI HLDG 9.1 9.2 9.1 9.2 9 9.2 18,100 165,530 FILINVEST DEV 0.221 0.23 0.221 0.23 0.221 0.23 100,000 22,640 FORUM PACIFIC 556 566 557 569.5 541 556 276,950 154,625,715 GT CAPITAL 74 74.15 72 74.5 71.8 74.15 1,981,740 146,636,675.50 JG SUMMIT 5.03 5.3 5.3 5.3 5.3 5.3 7,000 37,100 KEPPEL HLDG A 1.04 1.05 1.01 1.07 1.01 1.04 5,857,000 6,024,910 LODESTAR 3.71 3.72 3.73 3.74 3.71 3.71 4,560,000 16,939,990 LOPEZ HLDG 13.4 13.7 13.32 13.7 13.2 13.7 1,106,900 14,876,066 LT GROUP MABUHAY HLDG 0.56 0.57 0.56 0.57 0.54 0.56 2,396,000 1,334,050 4.35 4.36 4.3 4.38 4.26 4.35 30,760,000 133,795,720 METRO PAC INV PACIFICA HLDG 3.75 3.82 3.9 3.9 3.6 3.76 224,000 841,180 PRIME MEDIA 0.91 0.93 0.94 0.94 0.91 0.93 396,000 371,280 1.17 1.21 1.16 1.21 1.15 1.21 216,000 251,400 SOLID GROUP SYNERGY GRID 313 324.8 329 329 313 313 410 130,804 1,072 1,077 1,065 1,087 1,065 1,077 205,430 221,523,870 SM INVESTMENTS SAN MIGUEL CORP 126.9 127 127.5 127.8 126.5 127 240,670 30,609,911 SOC RESOURCES 0.81 0.84 0.86 0.86 0.81 0.84 560,000 465,350 TOP FRONTIER 135.2 140 140 140 135 140 1,880 262,800 0.227 0.238 0.22 0.238 0.22 0.226 1,920,000 424,260 WELLEX INDUS 0.203 0.205 0.206 0.206 0.201 0.204 2,060,000 421,710 ZEUS HLDG

47,630 43,824 -96,673,785 10,110,520 -60,237 110,270 -8,100 1,402,934 -5,393,742 82,060.00 -2,210 -96,792,810 8,906,855.50 55,530 -3,929,080 -4,331,400 -63,387,640.00 18,000 152,950 22,056,610 -5,097,382 -11,050 20,600

PROPERTY ARTHALAND CORP 0.68 0.7 0.72 0.72 0.68 0.7 2,780,000 1,915,700 7.81 8 7.9 8 7.9 8 17,200 136,580 ANCHOR LAND 40.3 40.35 40 40.75 39.15 40.3 9,387,300 376,319,075 AYALA LAND 1.52 1.53 1.28 1.54 1.28 1.52 1,847,000 2,618,360 ARANETA PROP 29.9 30 30 30.05 29.9 29.9 1,483,900 44,494,625 AREIT RT 1.68 1.7 1.69 1.7 1.67 1.7 635,000 1,068,240 BELLE CORP 1 1.02 1.06 1.06 0.95 1.02 14,647,000 14,685,690 A BROWN 0.79 0.81 0.78 0.81 0.78 0.81 13,000 10,440 CITYLAND DEVT 0.15 0.155 0.155 0.155 0.147 0.155 7,550,000 1,135,850 CROWN EQUITIES 5.63 5.9 5.62 5.9 5.6 5.9 1,600 9,022 CEBU HLDG 5.48 5.49 5.48 5.54 5.4 5.48 2,642,100 14,523,357 CEB LANDMASTERS 0.465 0.47 0.465 0.485 0.455 0.47 43,500,000 20,563,800 CENTURY PROP 0.37 0.375 0.37 0.38 0.37 0.37 3,910,000 1,462,550 CYBER BAY 14.58 14.6 14.6 14.8 14.4 14.58 2,866,600 41,792,644 DOUBLEDRAGON 7.06 7.2 6.95 7.2 6.75 7.2 175,200 1,240,260 DM WENCESLAO 0.33 0.335 0.325 0.335 0.325 0.33 2,030,000 666,150 EMPIRE EAST 0.087 0.09 0.091 0.091 0.086 0.087 1,310,000 114,100 EVER GOTESCO 1.14 1.15 1.14 1.15 1.13 1.15 3,730,000 4,242,800 FILINVEST LAND 0.9 0.91 0.9 0.91 0.89 0.9 2,032,000 1,821,570 GLOBAL ESTATE 7.53 7.75 7.76 7.77 7.51 7.53 54,800 418,417 8990 HLDG PHIL INFRADEV 1.39 1.4 1.4 1.43 1.36 1.39 3,415,000 4,754,830 MEGAWORLD 4.3 4.31 4.21 4.3 4.18 4.3 27,244,000 116,452,870 MRC ALLIED 0.79 0.8 0.8 0.85 0.75 0.79 444,504,000 357,915,010 PHIL ESTATES 0.38 0.42 0.375 0.42 0.365 0.42 9,670,000 3,649,900 1.43 1.44 1.49 1.5 1.43 1.43 1,401,000 2,041,490 PRIMEX CORP ROBINSONS LAND 21.9 22.05 21.3 22.35 21.3 22.05 3,636,900 79,992,955 PHIL REALTY 0.33 0.34 0.325 0.345 0.325 0.34 1,680,000 560,100 ROCKWELL 1.62 1.63 1.64 1.64 1.59 1.63 1,616,000 2,630,070 SHANG PROP 2.65 2.68 2.68 2.68 2.65 2.65 40,000 106,600 STA LUCIA LAND 1.99 2 2.03 2.04 1.97 2 413,000 823,410 39.75 39.8 39.3 40.35 39.3 39.8 6,294,900 251,281,150 SM PRIME HLDG VISTAMALLS 4.2 4.25 4.16 4.25 4 4.2 61,000 251,860 2.36 2.37 2.04 2.36 2.01 2.36 26,358,000 58,595,470 SUNTRUST HOME VISTA LAND 4.7 4.72 4.6 4.74 4.55 4.7 5,295,000 24,707,690 SERVICES ABS CBN 13.4 13.42 13.44 13.46 13.18 13.4 187,500 2,497,878 6.07 6.1 6.02 6.1 5.9 6.1 910,200 5,517,684 GMA NETWORK 0.485 0.495 0.52 0.52 0.47 0.485 7,022,000 3,435,700 MANILA BULLETIN 2,128 2,130 2,026 2,130 2,024 2,130 191,380 403,608,060 GLOBE TELECOM 1,453 1,458 1,421 1,459 1,421 1,453 86,000 124,694,940 PLDT 0.28 0.285 0.23 0.28 0.216 0.28 3,083,150,000 773,163,910 APOLLO GLOBAL 15.66 15.68 15.7 15.7 15.54 15.66 3,767,900 59,030,716 CONVERGE 4.98 4.99 5.17 5.17 4.96 4.99 265,000 1,338,670 DFNN INC 12.12 12.14 12 12.4 11.8 12.14 25,200,100 304,313,322 DITO CME HLDG 1.79 1.8 1.84 1.91 1.75 1.85 155,000 279,380 IMPERIAL 0.183 0.184 0.183 0.187 0.17 0.183 30,390,000 5,471,710 ISLAND INFO 1.92 1.95 2.09 2.09 1.9 1.95 827,000 1,640,140 JACKSTONES 3.96 3.97 3.97 4 3.88 3.97 6,449,000 25,431,330 NOW CORP 0.365 0.37 0.36 0.38 0.35 0.37 30,110,000 10,953,000 TRANSPACIFIC BR 2.91 2.92 2.95 2.95 2.9 2.91 913,000 2,667,020 PHILWEB 9 9.05 9.2 9.2 9 9.05 81,600 736,317 2GO GROUP 14.64 15 14.7 14.76 14.64 14.64 66,600 976,650 ASIAN TERMINALS 5 5.04 5 5.1 4.9 5 4,629,500 23,033,024 CHELSEA 48.6 48.85 48.5 49.2 48 48.6 364,800 17,630,710 CEBU AIR 124.5 126 123.2 126.8 123.2 124.5 1,067,920 133,439,790 INTL CONTAINER LBC EXPRESS 15.48 15.9 15.48 15.5 15.48 15.5 400 6,198 1.03 1.06 1.1 1.1 1.02 1.03 1,159,000 1,228,210 LORENZO SHIPPNG 6.35 6.36 6.36 6.5 6.22 6.35 4,574,400 29,026,047 MACROASIA METROALLIANCE A 3.72 3.73 3.9 4 3.72 3.73 15,914,000 61,185,670 3.62 3.7 4 4 3.56 3.58 363,000 1,398,450 METROALLIANCE B PAL HLDG 6.69 6.7 6.85 6.85 6.69 6.7 65,700 443,021 HARBOR STAR 1.53 1.54 1.57 1.59 1.52 1.54 5,839,000 9,025,180 ACESITE HOTEL 1.48 1.55 1.5 1.55 1.5 1.5 88,000 132,050 0.045 0.046 0.047 0.048 0.044 0.045 218,700,000 9,892,000 BOULEVARD HLDG DISCOVERY WORLD 2.61 2.7 2.48 3.3 2.48 2.6 789,000 2,234,760 WATERFRONT 0.6 0.61 0.61 0.62 0.58 0.61 23,271,000 13,963,220 IPEOPLE 8.17 9.27 8.17 8.17 8.17 8.17 20,000 163,400 0.435 0.44 0.435 0.44 0.43 0.435 2,570,000 1,117,800 STI HLDG BERJAYA 5.6 5.7 5.7 5.7 5.7 5.7 28,000 159,600 8.15 8.16 8.02 8.26 8 8.15 1,895,400 15,436,847 BLOOMBERRY PACIFIC ONLINE 2.11 2.18 2.15 2.22 2.05 2.11 93,000 193,370 1.9 1.92 1.9 1.95 1.9 1.95 218,000 415,170 LEISURE AND RES 3.31 3.32 3.2 3.36 3.11 3.32 18,707,000 61,181,790 PH RESORTS GRP PREMIUM LEISURE 0.5 0.51 0.5 0.51 0.485 0.5 24,194,000 12,070,520 PHIL RACING 6.7 7.3 6.7 6.7 6.7 6.7 7,000 46,900 8.91 9 8.81 9 8.81 9 699,000 6,220,806 ALLHOME 1.47 1.48 1.51 1.51 1.48 1.48 3,888,000 5,794,150 METRO RETAIL 38.4 38.7 38.25 38.85 38.2 38.4 1,971,700 75,793,515 PUREGOLD 63.7 63.75 63.7 63.75 63.4 63.75 706,280 44,960,448.50 ROBINSONS RTL 119 120 116.8 120 116.2 119 58,740 6,984,284 PHIL SEVEN CORP 1.57 1.58 1.52 1.58 1.48 1.57 8,225,000 12,699,460 SSI GROUP 17.8 17.98 18 18.2 17.82 17.98 4,078,700 73,333,938 WILCON DEPOT 0.45 0.455 0.43 0.465 0.425 0.455 10,650,000 4,736,200 APC GROUP 7.14 7.33 7.21 7.38 7.1 7.33 61,100 438,503 EASYCALL 435 450 449 450 449 450 60 26,990 GOLDEN BRIA 6 6.11 6.2 6.2 6 6 22,400 135,773 IPM HLDG 2.2 2.4 2.05 2.45 2.05 2.4 10,000 21,400 PAXYS 2.84 2.85 2.63 3 2.37 2.85 343,153,000 952,643,580 PRMIERE HORIZON 5.51 5.6 5.59 5.6 5.49 5.51 518,300 2,881,802 SBS PHIL CORP

36,880.00 -144,279,800 -227,750 14,346,920 22,130 -46,500 525,761 -33,500 -1,245,938 -70,000 -162,500 402,940 6,230 22,530 112,400.00 13,612,760 5,097,860 -44,700 -2,189,040 -3,300 -4,920 -2,650 94,118,455 -669,610.00 3,177,640.00 112,311,630 18,931,305 7,243,890 3,198,210 343,300.00 5,056,670 17,900 -19,600 195,510 3,550 170 -932,700 117,106 -575,765 32,415,259 -60,061 30,500 1,350 30,620 135,000 -291,570 41,700 43,500 -6,044,160 -356,740 1,314,920 -292,250 -1,612,470 -7,760,860 -35,649,015.50 1,005,286 -83,200 12,672,462 420,750 -620 -8,573,340 -

MINING & OIL ATOK 8.3 8.5 9.2 9.35 8.07 8.5 3,632,400 31,409,621 64,460 1.8 1.81 1.78 1.85 1.78 1.8 16,076,000 29,075,080 -1,842,690 APEX MINING 0.0033 0.0034 0.0033 0.0035 0.0031 0.0034 19,897,000,000 66,487,200 1,117,200 ABRA MINING 6.75 6.76 6.9 6.9 6.75 6.76 292,600 1,987,669 -234,654 ATLAS MINING 3.21 3.32 3.3 3.36 3.04 3.32 89,000 286,670 BENGUET A 3.12 3.39 3.2 3.2 3.2 3.2 87,000 278,400 BENGUET B 0.295 0.3 0.29 0.3 0.29 0.295 790,000 234,250 35,800 COAL ASIA HLDG 2.85 2.92 2.92 2.92 2.82 2.92 214,000 605,890 297,060 CENTURY PEAK 8.65 8.8 8.8 8.8 8.41 8.8 31,600 274,457 DIZON MINES 2.95 2.96 3 3.02 2.9 2.96 8,309,000 24,590,270 4,376,420.00 FERRONICKEL 0.39 0.4 0.4 0.43 0.39 0.39 12,020,000 4,789,250 5,400 GEOGRACE 0.173 0.174 0.166 0.175 0.163 0.173 43,420,000 7,340,920 LEPANTO A 0.171 0.174 0.166 0.173 0.166 0.173 2,440,000 413,050 -86,500 LEPANTO B 0.01 0.011 0.011 0.011 0.01 0.011 210,100,000 2,158,800 MANILA MINING A 0.01 0.011 0.011 0.011 0.01 0.011 14,600,000 152,200 MANILA MINING B 1.8 1.81 1.85 1.86 1.7 1.81 3,728,000 6,632,040 297,630 MARCVENTURES 3.26 3.36 3.41 3.42 3.27 3.27 1,067,000 3,567,830 NIHAO 5.61 5.62 5.8 5.8 5.52 5.61 4,773,600 26,869,163 1,278,470 NICKEL ASIA 0.42 0.43 0.44 0.44 0.4 0.42 2,790,000 1,190,200 -16,800 OMICO CORP ORNTL PENINSULA 1.2 1.21 1.21 1.28 1.17 1.2 8,335,000 10,270,780 -59,800 PX MINING 5.05 5.08 5.03 5.13 5.02 5.05 1,365,200 6,905,696 -53,733.00 SEMIRARA MINING 13.94 13.96 13.8 14 13.54 13.94 1,117,600 15,411,252 554,864 UNITED PARAGON 0.0067 0.0069 0.0066 0.0069 0.0066 0.0069 20,000,000 134,300 59,400 ACE ENEXOR 15.4 15.42 16.44 16.48 15.1 15.42 926,200 14,466,770 185,438.00 ORNTL PETROL A 0.012 0.013 0.012 0.013 0.011 0.012 1,046,800,000 12,632,400 0.012 0.013 0.013 0.013 0.012 0.012 33,900,000 418,500 ORNTL PETROL B 0.012 0.013 0.011 0.015 0.011 0.012 3,097,900,000 39,442,000 -469,800 PHILODRILL PXP ENERGY 12.4 12.48 12.24 12.66 12.14 12.42 2,333,400 29,054,334 -12 PREFFERED HOUSE PREF A 100.1 101.9 100.2 101.9 100.1 100.1 1,020 102,141 515 530 530 530 527.5 530 13,100 6,933,550 AC PREF B1 511 513.5 510 510 510 510 1,000 510,000 AC PREF B2R 108.1 111.9 111.9 111.9 108.1 108.1 550 61,355 FGEN PREF G 490 517.5 495 495 495 495 2,000 990,000 FPH PREF C 1,018 1,039 1,018 1,018 1,018 1,018 50 50,900 GTCAP PREF A 1,021 1,030 1,030 1,030 1,030 1,030 500 515,000 -515,000 GTCAP PREF B 100 100.8 100 100.8 100 100.8 1,000 100,400 MWIDE PREF 2A 100 101.8 101.1 101.8 101.1 101.8 10,000 1,017,650 MWIDE PREF 2B 104.3 106 106 106 106 106 60 6,360 PNX PREF 3B 1,008 1,010 1,010 1,010 1,006 1,010 1,550 1,561,960 PNX PREF 4 1,010 1,023 1,010 1,023 1,004 1,023 675 679,630 20,100 PCOR PREF 2B 1,080 1,090 1,080 1,085 1,080 1,085 2,270 2,462,350 PCOR PREF 3A 1,094 1,100 1,100 1,100 1,100 1,100 55 60,500 PCOR PREF 3B 1.59 1.68 1.49 1.59 1.49 1.59 8,000 12,420 SFI PREF 78 78.3 78.9 78.9 78 78 82,660 6,456,842 SMC PREF 2C 75.75 77 75.6 75.75 75.6 75.75 2,500 189,225 SMC PREF 2E 77.3 77.4 77.4 77.4 77.3 77.4 40,000 3,095,000 SMC PREF 2F 76.1 77.4 76.15 76.15 76.1 76.1 25,190 1,917,059 SMC PREF 2H 76.85 78 76.95 76.95 76.7 76.7 41,300 3,173,638.50 SMC PREF 2I SMC PREF 2J 76.1 76.2 76 76.2 76 76.2 16,600 1,263,640 -30,400 SMC PREF 2K 76 76.25 76 76 76 76 24,190 1,838,440 PHIL. DEPOSITARY RECEIPTS GMA HLDG PDR 5.93 6.09 5.93 6.09 5.93 6.09 102,800 609,684 WARRANTS LR WARRANT 0.98 0.99 1.03 1.03 0.98 0.99 312,000 314,430 16,080 SMALL & MEDIUM ENTERPRISES ALTUS PROP 12.84 12.9 12.74 13 12.6 12.84 360,300 4,613,786 -12,630 3.48 3.49 3.45 3.55 3.27 3.49 6,566,000 22,712,520 -703,980 ITALPINAS 6.15 6.2 6.16 6.2 6.12 6.2 91,900 564,655 614 KEPWEALTH 7.23 7.24 7 7.37 6.81 7.24 28,340,100 201,370,368 985,629 MERRYMART EXHANGE TRADE FUNDS FIRST METRO ETF 109.1 109.5 109.3 110 108.3 109.5 23,760 2,596,342 336,609

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

The World

W.H.O. team arrives in Wuhan to search for pandemic origins

UHAN, China—A global team of researchers arrived on Thursday in the Chinese city where the coronavirus pandemic was first detected to conduct a politically sensitive investigation into its origins amid uncertainty about whether Beijing might try to prevent embarrassing discoveries. The 10-member team sent to Wuhan by the World Health Organization was approved by President Xi Jinping’s government after months of diplomatic wrangling that prompted an unusual public complaint by the head of the WHO. Scientists suspect the virus that has killed 1.9 million people since late 2019 jumped to humans from bats or other animals, most likely in China’s southwest. The ruling Communist Party, stung by complaints it allowed the disease to spread, says the virus came from abroad, possibly on imported seafood, but scientists reject that. CGTN, the English-language channel of state broadcaster CCTV, reported the WHO team’s arrival. The members include virus and other experts from the United States, Australia, Germany, Japan, Britain, Russia, the Netherlands, Qatar and Vietnam. A government spokesman said this week they will “exchange views” with Chinese scientists but gave no indication whether they would be allowed to gather evidence. They will undergo a two-week quarantine as well as a throat swab test and an antibody test for Covid-19, according to a post on CGTN’s official Weibo account. They are to start working with Chinese experts via video conference while in quarantine. China rejected demands for an international investigation after the Trump administration blamed Beijing for the virus’s spread, which plunged the global economy into its deepest slump since the 1930s. After Australia called in April for an independent inquiry, Beijing retaliated by blocking imports of Australian beef, wine and other goods. One possibility is that a wildlife poacher might have passed the virus to traders who carried it to Wuhan, one of the WHO team members, zoologist Peter Daszak of the US group EcoHealth Alliance, told the Associated Press in November. A single visit by scientists is unlikely to confirm the virus’s origins; pinning down an outbreak’s animal reservoir is typically an exhaustive endeavor that takes years of research including taking animal samples, genetic analysis and epidemiological studies. “The government should be very transparent and collaborative,” said Shin-Ru Shih, director at the Research Center for Emerging Viral Infections at Taiwan’s

Chang Gung University. The Chinese government has tried to stir confusion about the virus’s origin. It has promoted theories, with little evidence, that the outbreak might have started with imports of tainted seafood, a notion rejected by international scientists and agencies. “The WHO will need to conduct similar investigations in other places,” an official of the National Health Commission, Mi Feng, said Wednesday. Some of the WHO team were en route to China a week ago but had to turn back after Beijing announced they hadn’t received valid visas. That might have been a “bureaucratic bungle,” but the incident “raises the question if the Chinese authorities were trying to interfere,” said Adam Kamradt-Scott, a health expert at the University of Sydney. A possible focus for investigators is the Wuhan Institute of Virology in the city where the outbreak began. One of China’s top virus research labs, it built an archive of genetic information about bat coronaviruses after the 2003 outbreak of Severe Acute Respiratory Syndrome. According to WHO’s published agenda for its origins research, there are no plans to assess whether there might have been an accidental release of the coronavirus at the Wuhan lab, as some American politicians, including President Donald Trump, have claimed. A “scientific audit” of Institute records and safety measures would be a “routine activity,” said Mark Woolhouse, an epidemiologist at the University of Edinburgh. He said that depends on how willing Chinese authorities are to share information. “There’s a big element of trust here,” Woolhouse said. An AP investigation found the government imposed controls on research into the outbreak and bars scientists from speaking to reporters. The coronavirus’s exact origin may never be traced because viruses change quickly, said Woolhouse. Although it may be challenging to find precisely the same Covid-19 virus in animals as in humans, discovering closely related viruses might help explain how the disease first jumped from animals and clarify what preventive measures are needed to avoid future epidemics. Scientists should focus instead on making a “comprehensive picture” of the virus to help respond to future outbreaks, Woolhouse said. “Now is not the time to blame anyone,” Shih said. “We shouldn’t say, it’s your fault.” AP

China’s Covid-19 cases spike ahead of WHO research visit

EIJING—China is seeing a new surge in coronavirus cases in its frozen northeast as a World Health Organization team was due to arrive to probe the origins of the pandemic. China on Thursday also reported its first new death attributed to Covid-19 in months, raising the toll to 4,635 among 87,844 cases. China’s relatively low case figures are a testimony to the effectiveness of strict containment, tracing and quarantine measures, but have also raised questions about the tight hold the government maintains on all information related to the outbreak. The National Health Commission said Heilongjiang province in the region traditionally known as Manchuria recorded 43 new cases, most of them centered on the

city of Suihua outside the provincial capital of Harbin. The northern province of Hebei just outside Beijing, which has seen China’s most serious recent outbreak, recorded another 81 cases, marking the second straight day China’s total number of local infections has risen into triple digits. Another 14 cases were brought from outside the country. China has put more than 20 million people under varying degrees of lockdown in Hebei, Beijing and other areas in hopes of stemming infections ahead of next month’s Lunar New Year holiday. The government has cut travel links to and from several cities, urged people to stay put for the holiday, postponed important political gatherings and plans to let schools out a week early to reduce the chances of infection. AP

South Korea court confirms 20-year term for ex-president Park Geun-hye

EOUL, South Korea—South Korea’s Supreme Court on Thursday upheld a 20-year prison term for former President Park Geun-hye over bribery and other crimes as it wrapped up a historic corruption case that marked a striking fall from grace for the country’s first female leader and conservative icon. The ruling means Park, who was ousted from office and arrested in 2017, potentially serves a combined 22 years behind bars, following a separate conviction for illegally meddling in her party’s candidate nominations ahead of parliamentary elections in 2016. But the finalizing of her prison term also makes her eligible for a special presidential pardon, a looming possibility as the country’s deeply-split electorate approaches the presidential election in March next year. President Moon Jae-in, a liberal who won the presidential by-election following Park’s removal, has yet to directly address the possibility of freeing his predecessor. But at least one prominent member of Moon’s Democratic Party, chairman Lee Nak-yon, has raised the idea of pardoning Park and another imprisoned former president, Lee Myung-bak, who’s serving a 17-year term over his own corruption charges, as a gesture for “national unity.” Park, 68, has described herself a victim of political revenge. She has refused to attend her trials since October 2017 and didn’t attend Thursday’s ruling. The office of Moon, who has recently seen his

approval rating sink to new lows over economic problems, political scandals and rising coronavirus infections, didn’t have an immediate response to the ruling. Park, the daughter of slain military dictator Park Chung-hee, was convicted of colluding with her longtime confidante, Choi Soon-sil, to take millions of dollars in bribes and extortion from some of the country’s largest business groups, including Samsung, while she was in office from 2013 to 2016. She was also indicted on charges of accepting illegally monthly funds from her spy chiefs that were diverted out of the agency’s budget. Following weekslong protests by millions, Park was impeached by lawmakers in December 2016 and officially removed from office in March 2017 after the Constitutional Court upheld the impeachment. Park originally faced a prison term of more than 30 years before the Supreme Court sent her cases back to a lower court in 2019. The Seoul High Court in 2018 had sentenced her to 25 years in prison after reviewing her bribery, extortion, abuse of power and other convictions together. But the Supreme Court in October 2019 ordered the Seoul High Court to deal with Park’s bribery charge separately from other charges, based on a law requiring so for cases involving a president or other elected officials, even when the alleged crimes are committed together. AP

BusinessMirror

Friday, January 15, 2021

Trump impeached in historic 2nd charge after Capitol riot

ASHINGTON—President Donald Trump was impeached by the US House for a historic second time on Wednesday, charged with “incitement of insurrection” over the deadly mob siege of the Capitol in a swift and stunning collapse of his final days in office.

With the Capitol secured by armed National Guard troops inside and out, the House voted 232-197 to impeach Trump. The proceedings moved at lightning speed, with lawmakers voting just one week after violent pro-Trump loyalists stormed the US Capitol, egged on by the president’s calls for them to “fight like hell” against the election results. Ten Republicans fled Trump, joining Democrats who said he needed to be held accountable and warned ominously of a “clear and present danger” if Congress should leave him unchecked before Democrat Joe Biden’s inauguration January 20. Trump is the only US president to be twice impeached. It was the most bipartisan presidential impeachment in modern times, more so than against Bill Clinton in 1998. T he C ap it ol i n s u r re c t ion stunned and angered lawmakers, who were sent scrambling for safety as the mob descended, and it revealed the fragility of the nation’s history of peaceful transfers of power. The riot also forced a reckoning among some Republicans, who have stood by Trump throughout his presidency and largely allowed him to spread false attacks against the integrity of the 2020 election. House Speaker Nancy Pelosi invoked Abraham Lincoln and the Bible, imploring lawmakers to uphold their oath to defend the Constitution from all enemies, foreign “and domestic.” She said of Trump: “He must go, he is a clear and present danger to the nation that we all love.” Holed up at the White House, watching the proceedings on TV, Trump later released a video statement in which he made no mention at all of the impeachment but appealed to his supporters to refrain from any further violence or disruption of Biden’s inauguration. “Like all of you, I was shocked and deeply saddened by the calamity at the Capitol last week,” he said, his first condemnation of the attack. He appealed for unity “to move forward” and said, “Mob violence goes against everything I believe in and everything our movement stands for.... No true supporter of mine could ever disrespect law enforcement.” Trump was first impeached by the House in 2019 over his dealings with Ukraine, but the Senate voted in 2020 acquit. He is the first president to be impeached twice. None has been convicted by the Senate, but Republicans said Wednesday that could change in the rapidly shifting political environment as officeholders, donors, big business and others peel away from the defeated president. Biden said in a statement after the vote that it was his hope the Senate leadership “will find a way to deal with their Constitutional responsibilities on impeachment while also working on the other

urgent business of this nation.” The soonest Republican Senate leader Mitch McConnell would start an impeachment trial is next Tuesday, the day before Trump is already set to leave the White House, McConnell’s office said. The legislation is also intended to prevent Trump from ever running again. McConnel l believes Tr ump committed impeachable offenses and considers the Democrats’ impeachment drive an opportunity to reduce the divisive, chaotic president’s hold on the GOP, a Republican strategist told The Associated Press on Wednesday. McConnell told major donors over the weekend that he was through with Trump, said the strategist, who demanded anonymity to describe McConnell’s conversations. In a note to colleagues Wednesday, McConnell said he had “not made a final decision on how I will vote.” Unlike his first time, Trump faces this impeachment as a weakened leader, having lost his own reelection as well as the Senate Republican majority. Even Trump ally Kevin McCarthy, the House Republican leader, shifted his position and said Wednesday the president bears responsibility for the horrifying day at the Capitol. In making a case for the “high crimes and misdemeanors” demanded in the Constitution, the four-page impeachment resolution approved Wednesday relies on Trump’s own incendiary rhetoric and the falsehoods he spread about Biden’s election victory, including at a rally near the White House on the day of the January 6 attack on the Capitol. A Capitol Police officer died from injuries suffered in the riot, and police shot and killed a woman during the siege. Three other people died in what authorities said were medical emergencies. The riot delayed the tally of Electoral College votes that was the last step in finalizing Biden’s victory. Ten Republican lawmakers, including third-ranking House GOP leader Liz Cheney of Wyoming, voted to impeach Trump, cleaving the Republican leadership, and the party itself. Cheney, whose father is the former Republican vice president, said of Trump’s actions summoning the mob that “there has never been a greater betrayal by a President” of his office. Trump was said to be livid with perceived disloyalty from McConnell and Cheney. With the team around Trump hollowed out and his Twitter account silenced by the social media company, the president was deeply frustrated that he could not hit back, according to White House officials and Republicans close to the West Wing who weren’t authorized to speak publicly about

private conversations. From the White House, Trump leaned on Sen. Lindsey Graham of South Carolina to push Republican senators to resist, while chief of staff Mark Meadows called some of his former colleagues on Capitol Hill. The president’s sturdy popularity with the GOP lawmakers’ constituents still had some sway, and most House Republicans voted not to impeach. Securit y was exceptionally tight at the Capitol, with tall fences around the complex. Metaldetector screenings were required for lawmakers entering the House chamber, where a week earlier lawmakers huddled inside as police, guns drawn, barricaded the door from rioters. “We are debating this historic measure at a crime scene,” said Rep. Jim McGovern, D-Mass. During the debate, some Republicans repeated the falsehoods spread by Trump about the election and argued that the president has been treated unfairly by Democrats from the day he took office. Other Republicans argued the impeachment was a rushed sham and complained about a double standard applied to his supporters but not to the liberal left. Some simply appealed for the nation to move on. Rep. Tom McClintock of California said, “Every movement has a lunatic fringe.” Yet Democratic Rep. Jason Crow, D-Colo. and others recounted the harrowing day as rioters pounded on the chamber door trying to break in. Some called it a “coup” attempt. Rep. Maxine Waters, D-Calif., contended that Trump was “capable of starting a civil war.”

Conviction and removal of Trump would require a two-thirds vote in the Senate, which will be evenly divided. Republican Sen. Pat Toomey of Pennsylvania joined Sen. Lisa Murkowski of Alaska over the weekend in calling for Trump to “go away as soon as possible.” Fending off concerns that an impeachment trial would bog down his first days in office, Biden is encouraging senators to divide their time between taking up his priorities of confirming his nominees and approving Covid-19 relief while also conducting the trial. The impeachment bill draws from Trump’s own false statements about his election defeat to Biden. Judges across the country, including some nominated by Trump, have repeatedly dismissed cases challenging the election results, and former Attorney General William Barr, a Trump ally, has said there was no sign of widespread fraud. The House had first tried to persuade Vice President Mike Pence and the Cabinet to invoke their authority under the 25th Amendment to remove Trump from office. Pence declined to do so, but the House passed the resolution anyway. The impeachment bill also details Trump’s pressure on state officials in Georgia to “find” him more votes. While some have questioned impeaching the president so close to the end of his term, there is precedent. In 1876, during the Ulysses Grant administration, War Secretary William Belknap was impeached by the House the day he resigned, and the Senate convened a trial months later. He was acquitted. AP

Friday, January 15, 2021 • Editor: Gerard S. Ramos

Relationships BusinessMirror

‘Ma’am, how may I help you?’

S many of you have probably noticed, customer service or guest relations is one of the things that has suffered during this pandemic. I can’t count the many times I have been so infuriated by the lack of a proper response or accountability from people or companies selling goods and services. Often, it is the more established companies that have failed in this regard, while new and first-time entrepreneurs, I’ve observed, are the ones who have shown the initiative to reach out, explain and revert with appropriate responses to any questions, comments, or complaints. (Sure, they are nor perfect. But since the pandemic, I’ve really not had any discouraging encounters with these newbies, or online sellers.) The more established companies or entrepreneurs, however, who can afford to hire marketing people, publicists and public relations strategists, need to relearn basic GMRC (good manners and right conduct). Consider this popular chef, for instance, whose products and creations were much-written about by several media colleagues last year. Before Christmas, I was looking for a good purveyor for chicken galantina as I was no longer enamored with my usual supplier. Since the latter’s management had been taken over by another company, I found the taste of my supplier’s galantina had become unfortunately sub-par. This popular chef boasted to me that galantina was

one of his “signature dishes,” and of course I jumped at the chance to order one. I even asked if he was subscribed to an online payment system so I could pay him immediately. But he graciously said that I could pay him when I had already received the product. I actually even volunteered to pick up the dish at his restaurant, but he asked for my contact details and said he would just deliver the dish. Understand that this was a week before Christmas Day, and I thanked my lucky stars he even accepted my order. The day before our agreed-on delivery date, I reconfirmed my order; he, however, didn’t respond. Maybe he was just busy, I thought. The delivery day came and went—nada. The popular chef flaked out on me. To this day, I have not even heard a word of apology, or excuse why he wasn’t able to deliver the goods, literally. Very unprofessional. And yet he has the gall to invite me to “like” the Facebook page of his restaurant. As they used to say in my youth: “Nek-nek mo.” As I write this column, I am also fuming because this Internet provider I had switched to late last year—let’s call the provider ICT—has just slapped me with a statement of account (SOA) of over P9,000. Reader, I may not earn a humongous salary from my writing, but I certainly know how to pay the dues I owe. I am very conscious of the SOAs and billing statements from my credit-card companies, utility firms, and other services to which I subscribe. I have been subscribed to ICT’s app since last year, so I would know how much I should pay for every month since I started receiving their service in August. Again, nada. I never received any billing since my initial downpayment of P1,500. In fact, as the app even shows, I had no billing history at all, because they never sent me SOAs. This is not a newbie tech company, nor its owner a first-time entrepreneur. So it just sucks to have this kind of customer service from someone who should know better. It’s bad enough that the company’s

Internet service is erratic and sometimes slow—I have taken to switching their box off and on when this happens—and then to receive a billing statement of this magnitude! Tinalo pa ang Meralco bill ko! Another company with extremely poor customer service is this transport/courier/food delivery service. Two years ago, it increased its food delivery fee, as if it thought we wouldn’t notice. Then last year, when there was no traffic in the Metro as everyone had been quarantined at home, the company started grouping food orders. So instead of getting my food order in 15 minutes, because my residence is quite near the restaurants I usually order from, the waiting period has doubled because, well, someone else ordered food at the same time I did. Not only that, the restaurant these other people ordered from is in the same vicinity as the restaurant I also ordered from. Thus, by the time I get my food, I have to reheat it because it’s gotten cold. Imagine that happening when you order a pizza. Yuck! The company says they group food deliveries to maximize the time and service of their riders. But what about my time, not to mention my hungry tummy? And it’s not like there has been traffic jams between my home and the restaurants I order from. By the way, this same transport/courier/food delivery service has also the temerity to impose higher surcharges on rides, despite the lower demand for its service. They say that surcharges are higher because of the traffic and increased demand, but in the many conversations I’ve had with their drivers, they usually say customers have been wanting. Why? Because the company only accepts online payments now, and not cash unlike pre-pandemic times. So, liar na, mukhang pera pa. It’s annoying that amid this pandemic, we have to deal with the hypocrisy, arrogance, insufferable service, poor communication skills and inadequate customer relations of these people and companies. New Year na. Magbago na sana kayo. n

The value of giving only the best to your family

THE pandemic has made us busier than ever. With life happening from home, it is easy to get consumed with all the responsibilities and limitations we have to deal with. Moments where the family gets to spend time together—despite busy schedules and times of worry—are truly worth valuing and celebrating, and fast-food brand Jollibee (www.jollibeedelivery.com) knows this best. In its latest commercial starring Charlene Muhlach and family, Charlene emphasizes the value of making the most of these times together with family and giving them only the best, such as a bucket of hugely popular Jollibee Chickenjoy, to those they love the most. “Times are especially tougher nowadays, and moments with the family around are some of what we value the most. Our new ad honors the parents that choose to give only the best to their family, such as Jollibee Chickenjoy, because it make warm moments with loved ones even better,” said Cathleen Capati, AVP for marketing-bestsellers category.

www.businessmirror.com.ph

Today’s Horoscope By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Dove Cameron, 25; Regina King, 50; Chad Lowe, 53; Mario Van Peebles, 64. Happy Birthday: Protect what you’ve worked so hard to acquire. Tie up unfinished business, and consider what you want to do next. Have a plan in place, and it will be easier to avoid being distracted. Set new goals for the year. Make your objective clear to anyone who may try to jeopardize your ability to turn your plan into a reality. Your numbers are 8, 11, 23, 27, 33, 38, 47.

ARIES (March 21-April 19): You’ll release stress and tension if you do something physical. A good workout will help you distance yourself from a situation that has left you feeling uncertain. Time is on your side. Once you’ve taken a break, you’ll see things differently. HHHH

TAURUS (April 20-May 20): Your enthusiastic attitude may not mix well with someone struggling to take care of responsibilities. If you take the pressure off others, you will get more in return. What you learn by taking on more will help you advance. Personal growth is apparent. HH

GEMINI (May 21-June 20): Take on a position of leadership. What you do to ease stress for others will be recognized and rewarded. Update your image, and spend more time exercising to ensure you remain healthy, fit and at your best. HHHHH

CANCER (June 21-July 22): Look for the good in everything and everyone. How you see situations and others will make it easier for you to make better decisions. A unique partnership will take on a direction that you find enticing. HHH

LEO (July 23-Aug. 22): Look for opportunities that are practical and fit into your schedule and lifestyle in a suitable time frame. If someone applies pressure or makes you feel uncomfortable, back away and move on to something else. HHH

VIRGO (Aug. 23-Sept. 22): Incorporate what you learn into your everyday life. Starting a hobby or signing up for a class will result in meeting someone who enjoys the same things you do. Romance will enhance your experience and encourage a positive lifestyle change. HHH

LIBRA (Sept. 23-Oct. 22): Take better care of yourself. Refuse to let someone push you around or put demands on you. Consider what makes you happy, and pursue people and activities that bring out the best in you. HHH

SCORPIO (Oct. 23-Nov. 21): A friend or relative will confuse you. Find out where you stand before you make a decision that can influence the dynamics of a relationship. Look for a unique way to use your living space, and it will encourage a lifestyle change. HH

i HK-based co-baking space opens in PHL THE first Hong Kong-based co-baking space that teaches you to bake with an app, Bakebe PH has set up shop in SM Aura Premier. Founded by Cantonese food blogger Venus Chi, Bakebe PH aims to set up a learning structure that allows everyone to experience the joy of baking. With recipes from global pastry chefs from Michelinstarred restaurants, one can create beautiful “Instagrammable” unicorn cakes, macaroons, piñata cakes, cake pops and other themed cakes with zero baking experience. With an extremely user-friendly app, the participant can get a step-by-step guide in an iPad to bake their chosen pastry. This one-on-one experience can help you complete each step at your own pace. This app teaches anyone—be it a newbie, an enthusiast, even a professional. This baking wonderland is fully equipped with ovens, mixers, baking tools and everything you need

to whip up your dream pastry. What’s more is you can even take home your creations in a beautifully wrapped signature box. Break up and bake up at Bakebe if you are having a lonely heart, or bake with your bae on your special day. Bake with your bestie and make baking a new hobby, or bake with your squad and have bake-tiful special moments with your family. Bakebe also has Bridal Shower Package, Birthday Party Package, Gender Reveal, School Tours, Team Building and Photoshoot Package. Each package includes your choice of cake to bake, exclusive use of venue, party favors, party host, games and prizes, and even set meals. Tap your way to the perfect cake with the Bakebe App. The app comes with detailed instructions, graphics, videos, and a step-by-step guide that will help you complete your chosen baking project.

SAGITTARIUS (Nov. 22-Dec. 21): Keep your thoughts to yourself. Something someone does or says will remind you of an incident you experienced a long time ago. Learn from the experience, and watch your back and protect your reputation and possessions. HHHH

CAPRICORN (Dec. 22-Jan. 19): Patience will pay off. Getting along with others will make your life easier, but don’t let someone push you around. Allow others the chance to spout off, but don’t lose sight of your plan and how you want to proceed. HHH

AQUARIUS (Jan. 20-Feb. 18): Keep your eye on the ball. Don’t give in to someone if it will ruin a goal you want to achieve. Look at every angle of a situation and how it will affect your relationship with friends and family, then proceed. HHH

PISCES (Feb. 19-March 20): A physical change will fetch attention—some favorable, some not so much. Be happy that you have the freedom to do what makes you feel good. Please yourself, and your confident attitude will persuade others to accept the decisions you make. HHH Birthday Baby: You are innovative, aggressive and unpredictable. You are flirtatious and fun.

‘prankster’s refrain’ by david steinberg The Universal Crossword/Edited by David Steinberg

ACROSS 1 ___ scale, on which talc is a 1 5 “I’m not done...” 9 Dad 13 Very much 14 Cross-legged yoga pose 16 In its current condition 17 “Once was enough” 19 Curling surface 20 Longtime UK record label 21 Dinner invitation excuse 23 “My dear ___” (old letter opener) 25 “Rocky” theme song 28 Fuss 29 Cultivating tool 30 “Pea soup” weather 31 Approve officially 35 Human rights activist Clooney 39 Lord Voldemort, to Harry Potter 40 23andMe molecule 41 The “)” in :-) 42 Water-resistant cover 43 “See what I’m saying?” 45 Small battery size 48 ___ ball (complete miss)

9 Cable box, for short 4 50 Like a rising star 55 One may wear a wire 56 Soccer move involving a spin 57 Hoppy beer initials 59 Superfan descriptor 60 What you’ll be after reading the starts of the starred entries? 65 Plateau relative 66 Perfectly pitched 67 Capital of Norway 68 When Caesar said “Et tu, Brute?” 69 Do, re or mi 70 Spread, as an aroma DOWN 1 “Geez!” 2 World Cup cheer 3 Prepare to click on, perhaps 4 Thorny rose part 5 Order ___ carte 6 A hiker might sit on one 7 White shirt woe 8 Board with four vowels 9 Beer pong, e.g. 10 Like sushi and chow mein

1 Burrito bean variety 1 12 Off-center 15 Tobacco in a box 18 Southpaw’s counterpart 22 ___-mo 23 Bob of stand-up 24 “Let It Go” singer Menzel 26 “I have an idea!” 27 Like a partner who constantly texts you 32 Fried Spanish street food 33 Activist Yoko 34 Hawaii’s “Garden Isle” 36 Not-so-spicy dip 37 MLB award that Mike Trout won in 2014 and 2016 38 Cautious 41 Golfer Garcia 44 Spiny fish part 46 Follow : Twitter :: ___ : Snapchat 47 Squirrel’s nut 50 “Fifth taste” in MSG 51 Unlike a dirt road 52 Come up 53 It makes a cook cry

4 Masculine to the max 5 58 Post-blizzard vehicle 61 Caboodle go-with 62 Hwy. such as 66 63 ___ on the Shelf 64 Period

Solution to Tuesday’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

Editor: Gerard S. Ramos

• Friday, January 15, 2021

Blending delectable food and sweet love in ‘The Lost Recipe’

VANESSA KIRBY and Ellen Burstyn in Pieces of a Woman, now streaming on Netflix.

Only women can pick up ‘Pieces of a Woman’ T

HE first 30 minutes of the film Pieces of a Woman must be one of the most stressful— good stressful—introductions to a dramatic film. High-octane energy is usually the province of action films but seldom do we expect tension in a film about a woman on the verge of motherhood. While birthing a child is the prime staple of default, and therefore predictable, histrionics in many common films, the same process is made so graphic in this film that one feels like a voyeur in that moment between a doctor or a midwife and a woman. Vanessa Kirby, as Martha, twists and contorts herself in the effort to deliver the baby. Her husband, Sean (Shia LaBeouf), is also part of the picture as he holds his wife who recoils, holds his leg and nearly bites it. The midwife resorts to asking the pregnant woman to be in the bathtub. The midwife guides her and we feel both the ease and difficulty of the act. All this time, the camera navigates medium and closeup shots, with the angles produced because the cinematographer, it seems, inserts himself and his crew between the woman, the man and the midwife. The sensation generated by this approach is a cross between intimacy and invasion, a blurring of the boundary between the public and the private. The camera in this film is never timid: during the childbirth, for example, the vagina of the woman is shown, neither hidden by the prude technique of shadows or some draping of the sheet. In an earlier scene when the water breaks, and Sean removes the pants of Martha, the camera never wavers in a half-fontal scene of the woman. In many other scenes, LaBeouf goes frontal as well, or, in some, displays an

abundant mound of pubic hair. From the breakdown of privacy insofar as the narrative is concerned, it is but a short walk to an unbridled confrontation with self, and with other individuals who come in between guilt and grief. Brave is the actor who finds himself or herself in the middle of this kind of plot; braver still is the actor who the person becomes to tell the story of women breaking apart while the world around them remains stolid and sound. Pieces of a Woman is fated to have daunting actors who not only wear their hearts on their sleeves but also break those hearts and other hearts in their pursuit of life. The film has all the traits of a traditional filmmaking: linear narrative, lucid plot, a clean and clear cinematography, even lush music. But what it lacks in edginess, it more than makes up for events that gradually, majestically unfold. Pieces of a Woman has, I’d like to emphasize, employed the most startlingly honest and visceral performers. As the woman who feels she has failed the test of motherhood, Vanessa Kirby is taut from the start. She seems to have considered giving birth the most natural and, therefore, the easiest function of a woman. When that is thwarted, she loses her hold on what is at the core of her good person—a woman who has her own voice. Her woman sees herself as only being completed by a child that we wonder what will ever make her happy other than giving birth. When Vanessa Kirby delivers that old line, “This is my body,” she is wracked with such violence that the battlecry sounds hers alone. Shia LaBeouf is unrecognizable and it is not because he has this unkempt long beard. He is this construction worker who is in a relationship with an executive. He cries terribly because he is not articulate enough to go into a more decent explanation of what he expects from a relationship. His Sean could have been just pathetic but when we see his tears, we know those are for the daughter he will never see again. Making the extracinematic news, however, is the comeback of Ellen Burstyn. Even for those who do not know her from that brilliant turn in Martin Scorsese’s Alice Doesn’t Live Here Anymore (which won her the Oscar Best Actress in 1975), audiences will surely sit up

and ask who this grand lady is. Burstyn’s fans will not be disappointed: in a small party in her house, Burstyn as Elizabeth encourages Martha, her daughter, to file a case against the midwife who delivered her baby. Kirby’s voice as Martha starts to boom (Kirby has a huge voice) but Burstyn’s Elizabeth would not be intimidated by any voice. She then recalls how she was born and how, in an impoverished home with a tough mother, she survived. With the face of Kirby after the explosion gone, the camera has only the face of Burstyn. We are looking at this dowager. She does not froth in the mouth, for that would be so crass; she just stares back at the impervious camera with her imperious look, the tears welling up but we know weeping is not in her list. Burstyn goes on, with no gestures. It takes awhile for us to notice that everyone is gone. We could not care less if all the characters have gone to the moon— we are loving the character of Burstyn to the moon and back. Talk of ensemble acting, this film has a real one. Before the Burstyn scene, all the leads and support are gathered in a room the design of which enables them to move outside the inner circle created by the dining table. Without the benefit of obvious cutting, the camera turns around and around, catching an actor passing behind another actor, seemingly eavesdropping on a furtive glance, hunting for a giveaway from anyone of them. It is a mise-en-scène made lovelier by a team of actors all keyed up to fulfil the other technical aspects of filmmaking. There are talks of nominations for Kirby and especially for Burstyn. If she is nominated for Best Supporting Actress, Burstyn will be the oldest Oscar nominee by April. But I do not understand why people are talking of age. Ellen Burstyn is ageless and peerless at this point in her career. Now streaming on Netflix, Pieces of a Woman is a 2020 film directed by Kornél Mundruczó, from a screenplay by Kata Wéber. It stars also Molly Parker, Sarah Snook, Iliza Shlesinger, Benny Safdie, and Jimmie Fails. Martin Scorsese serves as an executive producer. The film is said to be directly related to Mundruczó and Wéber’s 2018 stageplay of the same name. n

BEGINNING January 18, indulge in the new taste of Pinoy drama as GMA News TV presents the innovative and enticing fantasy-romance series The Lost Recipe, headlined by the fresh love team of Mikee Quintos and Kelvin Miranda. The first locally produced daily prime-time show on GMA News TV, The Lost Recipe is sure to charm viewers with its flavorful mix of love, comedy and fantasy set in the picturesque Manila. It not only highlights Filipinos’ love for food but also takes viewers to the gastronomic journey of reaching for one’s dreams. The latest GMA Public Affairs offering features the story of Harvey (Kelvin), a failed chef who gets the chance of a lifetime when he manages to travel back in time to steal a famous recipe and make it his own. While chasing his dream to build a culinary empire for his family, he meets Apple (Mikee), an aspiring chef who gets to work in his company. As GMA Artist Center stars, both Mikee and Kelvin have already made a niche for themselves in their previous projects. Together, the fast-rising actors are set to make hearts flutter in this series. Mikee looks forward for viewers to get to know Apple and Harvey. Even before beginning the taping for the series, Mikee has been exploring the kitchen herself, saying that cooking has helped her during the pandemic. “Being stuck at home because of the quarantine, ang daming time mag-explore sa kitchen and mag-luto. I find it therapeutic kasi nagpu-focus ka sa pagluto, wala kang ibang iniisip, so sana makatulong ang mga natutunan ko nitong pandemic sa show na ito. Kelvin and I are working together to best show the viewers the story of The Lost Recipe and sana this series will somehow give hope and inspire people to dream,” she shares. Sure to add more flavors to the series are the intriguing characters played by Thea Tolentino, Paul Salas, Lucho Ayala, Maureen Larrazabal, Almira Muhlach, Sue Prado, Topper Fabregas and Ariella Arida. Joining Harvey and Apple in their kitchen adventure as well are Phytos Ramirez, Prince Clemente, Anton Amoncio, Faye Lorenzo, and Crystal Paras. Taking on special roles in the series are Manilyn Reynes, Gabby Eigenmann and Kim Rodriguez. Directed by Monti Parungao and penned by head writer Erwin Caezar Bravo, The Lost Recipe will take you to the extraordinary world of food and love while inspiring you to chase your dreams. The Lost Recipe airs weeknights at 8 pm beginning January 18 on GMA News TV. Viewers abroad can also catch the series via GMA’s flagship international channel, GMA Pinoy TV (www.gmapinoytv.com).

Kelvin Miranda, Mikee Quintos and Paul Salas

Joross back in the spotlight BECAUSE of a meeting, I missed the media conference of Hoy, Love You!, iWantTFC’s newest series that can be streamed starting January 18. I didn’t mind actually. I’ve met one of the lead stars, Joross Gamboa, years ago and while we are not exactly close, I figured I know enough about him so I can still write about him. All I need is information about the series which I was able to obtain. I learned that in this series, Joross is reunited with his ex-love team Roxanne Guinoo and they portray Jules and Marge, single parents who are in pursuit of their personal dreams in life for themselves and their respective children. After losing his wife in an accident, the funloving probinsyano Jules focuses on his job as a contractor and encourages his daughter (Brenna Garcia) to finish her architecture course so that they can work together and live a comfortable life. Meanwhile, Marge is a career-centric interior designer from Manila whose dream is to put up her own design firm. She is also a hands-on mom to her 16-year-old son Charles (Aljon Mendoza).

Due to an accidental encounter, Jules and Marge meet but only develop a close relationship when they are both assigned to work together on a construction project in the province. Just when the two are on the brink of falling in love and ready to bring their families together, their relationship hits a roadblock when Marge’s wealthy ex-boyfriend Richard (Dominic Ochoa), who is also the father of Charles, returns in her life to win her back.

Will the kids of Jules and Marge approve of their relationship? Will Marge choose to rebuild her family and live a more stable life with Richard, or will her love for Jules prevail? Directed by Theodore Boborol, Hoy, Love You! also features the love team of Aljon and Karina Bautista, and TJ Valderrama, Pepe Herrera, Yamyam Gucong, Keanna Reeves, and Carmi Martin. The show’s official theme song was performed by the cast and was recently released by Star Music. Based on the previews I’ve seen, I think this is a perfect project for Joross as the series is light, humorous in many instances. I’m happy that Joross is again more active. Iba ang PR niya with the press, as he is naturally talkative and gregarious. Some people find it off-putting and think he is mayabang but when you get to know him better, he is actually a charming man. But make no mistake, Joross can also stretch his acting muscle and do drama. I clearly remember his MMK episode, titled “Bisikleta.” He played Roque, a polio victim who with his friend Arthur made their way to China to find a better life and, in the process,

resolve the issues they left in the Philippines. Then there’s Intoy Syokoy ng Kalye Marino, a Cinemalaya entry which gave Joross a Best Supporting Actor trophy. The movie was heartbreaking, the story of unconventional love that blooms amid the bleak landscape of poverty, highlighted by the brilliant performance of Joross as Bertong Baka. He even went on full Method acting in it, as he let his hair grow out and let it dry out giving him a disheveled look that gave such a physical reality to the character. He really dove into the role literally. There were scenes in the movie where he would dive into the murky waters of Cavite with floating trash. Hoy, Love You! streams for free on the iWantTFC app (available on iOS and Android) or on www.iwanttfc. com on January 18, with daily episodes dropping at 8 pm until January 24. Viewers can also enjoy watching it on a bigger screen through select smart TV brands, Roku streaming devices, and Telstra TV for global users. The complete list of compatible devices, signinand account activation instructions can be found at bit.ly/3iaMur2.

B6 Friday, January 15, 2021

Optimum MarketStrat offers more wellness essentials for Boholanos

OHOLANOS can now enjoy more health and wellness benefits coming from a wide array of products that are essential to your well-being. Distributed by Optimum MarketStrat International Inc., Calcium Cee, BarleyMax, SweetVia, Jeunesse Anion Sanitary Napkin, and So Sure Bladder Leakage Pad are now available at Alturas Chain of Supermarkets and Medicine + Pharmacies. The Alturas Group is a forerunner in the development of Bohol’s vibrant economy. It is now in its 38th year of serving Boholanos and the Visayan region, from retail to agri and aqua culture business. Established in 1982, the Alturas Group of Companies is a 100% Filipinoowned business, primarily engaged in the wholesale and retail of general merchandise with mall operations, supermarkets, cinemas, and food chains in Bohol and Colonnade Supermarkets in Cebu. Calcium Cee is a very good source of Vitamin C that fortifies our immune system. It shields us from viruses and helps to keep us healthy and strong every day. Calcium Cee also reinforces bone density, eases stress, manages blood pressure, boosts collagen formation, helps repair

tissues, and preserves clear eyesight, among other benefits. With a pH level between 7.2 and 7.4, Calcium Cee is safe to take even on an empty stomach while still providing the essential elements of calcium and vitamin C. That is why we can take Calcium Cee anytime and anywhere, without the acidity. Imported from New Zealand, Barley Max is a nutritional supplement made from pure, natural, and organic New Zealand barley. Each Barley Max sachet or capsule contains pure barley grass powder. Nutrient-rich young barley grass provides energy, stamina, strength, and immunity-boosting vitamins, like Vitamin C. It also contains minerals and aminoacids that our body needs. Aside from these advantages, barley grass also has freeradical fighting chlorophyll, and anti-aging live enzymes to help protect us against viruses or other health risks. SweetVia is not like most sugar substitutes. Aside from providing the sweetness derived from stevia, it also adds the health benefits of inulin. Stevia is a natural sweetener made from the leaves of the stevia plant. While it is much sweeter than table sugar, it has no carbohydrates, calories, or artificial

ingredients. That is why stevia is a good alternative for diabetics and those who have other health issues. Inulin, on the other hand, is a known prebiotic that stimulates the growth of good bacteria in our tummy, promotes good digestion, and improves heart health by reducing cholesterol. Women who experience unbearable monthly cycles can find relief by using Jeunesse Anion Sanitary Napkin. That is because each Jeunesse Anion sanitary napkin has a special anion chip that brings a lot of advantages, like preventing growth of bacteria during menstruation, helping reduce feminine discomfort, and helping eliminate unwanted odors. Upon contact with moisture, the anion chip in a Jeunesse pad releases negative ions that let women experience the benefits anions bring. So Sure Bladder Leakage Pad is the best choice for incontinence or the inability to go to the toilet for long periods of time. It guarantees incredible absorbency and prolonged freshness. So Sure Bladder Leakage Pad has the right thinness and thickness and is perfect for both men and women. Whether it’s a light or moderate incontinence condition, So Sure Bladder Leakage Pad is here to provide comfort and protection with antibacterial, antifungal, and odor control benefits. That is why the elderly can live their lives to the fullest, pregnant women are not worried about unwanted trickles, and health care workers can go about their duties with confidence – because they are wearing So Sure Bladder Leakage Pad. For more information, check out optimummarketstrat.com. or dial its hotline number: 09175642233. You may also contact the exclusive subdistributor in Bohol at Telephone Number (038)-501 3000 to 10 local 1425.

Mondelez Philippines, Robinsons Supermarket strengthen ‘Snack Mindfully’ advocacy campaign

K-Drama Sensation Kim Seon-ho holds global online meet-up via TikTok on January 17, 2021

IKTOK invites fans in the Philippines to join the exclusive ‘TikTok Stage Connect – Seon-ho’s Favorite’ event and interact with the actor on January 17, 2021. The leading destination for short-form mobile videos, and SALT Entertainment announced the actor’s first global online fan meeting exclusively on the platform at 7PM (PST). Viewers can tune in to the English livestream on the TikTok Stage account (@ tiktok_stage) or watch the Korean version on Kim Seon-ho’s TikTok account (@seonho_kim). Fans of Team Han Ji Pyeong will be thrilled to learn about their chance to get upclose-and-personal with their favorite StartUp actor. TikTok users can look forward to a variety of sessions, including listening to behind-the-scenes stories of Start-Up, the latest romance K-Drama to sweep the globe; participating in a telepathy game to guess Seon-ho’s preferences; and watching him discover his fans’ wishes. There will also be several pre-events on TikTok’s event page, where fans can

submit requests for what they want to hear from Kim Seon-ho or even upload a duet with him. The pre-event is expected to air globally, with participants from across different countries such as Indonesia, Malaysia, Singapore, the Philippines, Thailand, Vietnam, Taiwan and Korea. “As a short-form video app with a mission to spread creativity and bring joy, we hope to continue to provide opportunities for global fans and artists to connect on the platform,” said John Castro, User and Content Operations Manager, TikTok Philippines. “Kim Seon-ho has certainly captured the hearts of many and brought happiness through his TV dramas, and we look forward to jointly hosting this online meet-up with SALT Entertainment.” TikTok is available in over 150 countries and regions in 75 languages. Download the TikTok app via iOS or Google Play to be a part of this exciting fan meeting. Here's the event page link: https://activity.tiktok.com/ magic/page/ejs/5ff278c2be097402d0e347e8 ?appType=aweme

Cagayan State University study proves wonders of Bignay

HE tiny ruby-red cherries known scientifically as Antidesma bunius (L.) Spreng (Bignay) underwent extensive laboratory studies in Natural Product Research Innovation Center (NPRIC)-Cagayan State University (CSU) for months confirming the numerous anecdotal health and folkloric claims by the local Filipinos where it is grown. Using an animal model of respiratory diseases, Bignay has proven to be a powerful antiinflammatory agent and effective against lung disorders like airway inflammation, asthma, allergy, and cough/colds. Bignay extract was also tested to be potent against chemically-induced rheumatoid arthritis, gout, and joint pains in rat and LPS-induced acute lung injury in mice in vivo. It has an anti-oxidant property, antiinflammatory activity, a cholesterol buster and immune system booster. Balik Scientist Prof. Maria Nilda M. Muñoz, Inventor and Principal Investigator of the Bignay project, said that “the local scientific community that has put bioavailability-based studies as

among its priorities gave the Bignay study result a one big leap.” Bignay, endemic to the Philippines and other southeast Asian countries, is grown in Cagayan Valley and until the study, was just among the popular plant-based medicines employed by herbolarios to their patients. This Bignay study was supported by CSU President Urdujah Gaerlan Alvarado, and Department of Science and Technology Regional Director Sancho A. Mabborang.

Aegle Wellness Center offers an immune-boosting wellness retreat series at Balesin Island

ROBINSONS MDLZ Christmas

ITH all that happened in the past year, one thing that most people have learned is how to be mindful of their actions. Like how to be mindful of your safety when venturing outside the house. Increasingly, more and more people are also learning how to snack mindfully, especially now that staying at home has become the new normal. As a snacks Company, Snacking Mindfully is important to Mondelez Philippines. The Company advocates for eating with intention and attention. Knowing why you want to snack, choosing the right snack, and savoring the moment to avoid overeating. Recently, consumers were encouraged to take part in a snacking mindfully campaign, which also resulted in sharing love and care for families in need. Held from September 15 – Dec 31, 2020, the “Snack Mindfully” campaign was launched by Mondelez Philippines and Robinsons Supermarket Corporation through the latter’s Easymart, The Marketplace, and Robinsons Supermarket stores. The

campaign encouraged consumers to snack mindfully by purchasing portioncontrolled snack products of Mondelez Philippines. The Company believes in providing consumers with the right snacks to meet their lifestyle and snacking needs. Portion-controlled products are those which contain only 200 calories or below. By providing these portioned packs, consumers can balance their nutrition and indulgence needs more easily. Mondelez Philippines snack products included in the promo were Oreo 3-piece packs, Cheez Whiz, Cadbury Lickables, Tiger Crackers, and Cadbury Shots. For every purchase of these participating packs, consumers were also able to contribute P5.00 to partner organization Rise Against Hunger. The latter is an international hunger relief organization that distributes food and life-changing aid to the world's most vulnerable. The contributions through the campaign were used to purchase snack packs shared with families

in Taguig last Christmas. A total of 2,000 snack packs were raised, given to families in Rise Against Hunger’s adopted communities in the City. “Since the beginning of the pandemic last March 2020, we have been working hard with Mondelez Philippines to reach out to communities in danger of facing hunger,” shares Jomar Fleras, Executive Director of Rise Against Hunger. We know that this pandemic has caused much disruption, and that’s why we appreciate this continued partnership in providing snacks and food to our adopted communities. Throughout this year we have been able to benefit over 67,000 families, through 2,445 cases of Mondelez Philippines’ donated products. We are thankful for this partnership and hopeful for continued support as we move forward and grow stronger as a community. May we continue to be more mindful of our thoughts and actions to protect our future.” To start snacking mindfully today, visit https://www.snackmindful.com/.

ITH travel plans disrupted and postponed due to the pandemic, people have become more conscious about their health and wellness. Cabin fever was inevitable last year, which is why Aegle Wellness Center came up with Serenity Series—an immune-boosting wellness retreat at Balesin Island. Aegle’s Serenity Series is a succession of wellness weekends in the private paradise of Balesin Island, dedicated to revitalizing the mind and body. Each weekend is designed to be a life-changing experience with various wellness activities, complemented by Aegle’s world-class medical services and treatments to boost not only the immune system, but one’s well-being. Monthly Serenity Series weekends will be held to give guests a relaxing and recharging time at Aegle – Balesin. Aegle has dedicated the first quarter of the year to yoga—Vinyasa, Yin, and Bikram. Succeeding months will focus on photography, water activities—such as diving—and more fitness classes. Safety precautions and guidelines are in place for a worry-free wellness retreat—from the private hangar lounge to the UV-treated luxury villas that guests will be staying in during the weekend. Guests are required to do an Antigen Swab Test which they have to get at Aegle – Makati not more than five days prior to their trip to ensure that Balesin remains COVID-free. Serenity Series guests will get the full Aegle – Balesin experience, for each group will have their own dedicated wellness time. Aide from the swab test, the weekend series include Manila-Balesin Island round-trip airfare, luxurious villa accommodation in Balesin for three days and two nights, daily healthy gourmet breakfast, and the following Aegle services and treatments: Body Composition Analysis to gauge

your body’s fat and muscle content; Direct Micronutrient Analysis to determine if there are harmful toxins in your body; Light Therapy to stimulate your brain’s hormone secretion and help your body in its rest and repair; and Autonomic Nervous System Stress Response Test to get an overview of your nervous system and stress threshold, just by lying down for three minutes. Guests can also choose from either Hyperbaric Oxygen Therapy—helps expedite cell repair and regeneration through pure oxygen—or an Immune Boost IV Drip session that will support and power up the body’s defenses against sickness and viruses. Guests are also entitled to select an aesthetics treatment: a Local Fat-reduction slimming treatment on one body area (face, arms, tummy, back, or thighs) or FaceFitness—an Aegle-exclusive treatment and the Philippines’ first facial workout designed to keep the face healthy, toned, and young-looking. Guests are also given a 30-day supply of Immune Booster Packs—a set of formulated supplements that contain the highest appropriate levels of vitamins B12, C, D-3, and E, and zinc to boost your immune system to its optimum level. In addition, guests get to experience Thalassotherapy—a treatment that makes use of seawater and its natural elements for detoxification, anti-ageing, and regeneration. Aegle – Balesin is the only facility in the Philippines, and one of very few in Asia, that offers Thalassotherapy. Guests also have time to explore the island and its villages that are authentically patterned after the best seaside destinations around the world. For inquiries: +63.2.8737.0077, +63.917.821.9795, +63.949.889.6237, or info@aeglewellnesscenter.com

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

P.O.C. MAKES 1ST SERVE ON VOLLEYBALL ISSUE By Josef Ramos

HE Philippine Olympic Committee (POC) set a meeting this Saturday with volleyball stakeholders primarily to determine the legitimate voters and GASTANES to determine the date of general elections for the sport’s new national sports association. POC Secretary-General Atty. Ed Gastanes told BusinessMirror that the POC would have the final say on who could participate in the elections and stressed that an organization, club, league or individual should be “relevant” in order to be classified as a legitimate voter. Gastanes also said the POC aims to make the political exercise more inclusive. “The POC will finalize the terms of references of the general election. Upon the directive of the FIVB [International Volleyball Federation], we want to be more inclusive,” he said, adding the association’s charter is another key issue in the discussion. The FIVB requested the POC to supervise fresh elections for the volleyball NSA with the international

federation refusing to officially recognize both the Philippine Volleyball Federation (PVF) and the Larong Volleyball sa Pilipinas Inc. (LVPI). LVPI President Joey Romasanta and PVF President Edgardo Cantada were invited to the meeting, as well as Premier Volleyball League head Ricky Palou, Spikers’Turf president Alyssa Valdez, Philippine Super Liga chief Ian Laurel and Beach Volleyball Republic president Charo Soriano. Also expected to join the meeting are representatives from the country’s major collegiate leagues—University Athletic Association of the Philippines, National Collegiate Athletic Association and the Cebu Schools Athletic Foundation Inc., among others. The FIVB, through Director General Fabio Azevedo, asked the POC twice last year— August and December, to call for new elections of the national volleyball federation. The IF—in several communications with the POC, domestic volleyball bodies and national federations—maintained that it hasn’t delisted the name PVF from its roster but also didn’t consider the organization its affiliate in the country. The FIVB also refused to recognize the LVPI but because the body remains in the POC roster, it was allowed to select national team members for FIVB-sanctioned tournaments. The setup was in place since 2015.

Sports BYE ROCKETS, HELLO NETS BusinessMirror

AMES HARDEN is heading to Brooklyn, joining old teammate Kevin Durant and Kyrie Irving to give the Nets a potent trio featuring some of the National Basketball Association’s (NBA) highest scorers. The Nets agreed to acquire the threetime scoring champion from the Houston Rockets on Wednesday in a move Harden has sought for weeks, a person with knowledge of the situation said. Harden is the centerpiece of a four-team deal that also involves Indiana and Cleveland, according to the person who spoke to The Associated Press on condition of anonymity because the trade call with the NBA—which signs off on all deals—had not been completed. Once it is, the Nets will be able to trot out a lineup of three players capable of scoring 25 or more points on any night in a collection of firepower to rival any Big Three in recent years. “It’s an amazing move for Brooklyn. Obviously, they got better—way better,” said two-time MVP Giannis Antetokounmpo of Milwaukee. The Nets are loading up for a title run with three of the highest-paid players in the league.

Taduran defends belt vs Cuarto

EDRO TADURAN defends his International Boxing Federation (IBF) minimumweight belt for the second time against a tough compatriot Rene Mark Cuarto in an MP Promotions card on February 27 at the Lagao Gym in General Santos City. The 24-year-old Taduran kept his belt in his first title defense in Mexico February last year via a fourth-round technical draw against Daniel Valladares. “I’m doing great in my conditioning and I just resumed my sparring last Monday,” the Libon [Albay] pride Taduran told BusinessMirror. Despite the long lull atop the ring because of the pandemic, Taduran said he managed to maintain his boxing smarts. “It’s still the same speed and strength. I am focusing now on boosting my stamina and some air,” he said.

Taduran sports a 14-2-1 win-lossdraw record with 11 knockouts, while Cuarto, 24, holds an 18-2-2 record with 11 knockouts. Taduran was locked down in TADURAN Libon when strict quarantines were enforced last March, but immediately motored to the Art Mones Gym in La Union when travel restrictions were eased. Cuarto’s trainer Nonoy Neri, meanwhile, said they have been training and sparring with Genisis Libranza since last year. “We started training last October so we’re ready for the fight,” Neri said. Josef Ramos

JAMES HARDEN is headed to the Nets in a blockbuster four-team deal. AP

Adiwang fights for late mom in Singapore

EAM Lakay upstart Lito “Thunder Kid” Adiwang had a rough start to the year— the 27-year-old from Baguio City recently lost his mother Leticia, who has suffered multiple strokes since 2016. She passed away December 30, just before a tumultuous year ended for Adiwang. “There is nothing a mother wants more than to see her child happy and successful. I know my mother loved me so much,” Adiwang said. “And she just really didn’t want me to get

hurt, which is why she didn’t fully accept me being a fighter with her whole heart.” Members of Team Lakay rushed to Adiwang’s aid to show their support with head coach Mark Sangiao gathering his wards to attend the funeral service. After his mother was laid to rest, Adiwang expressed his intent to turn the year around. “My teammates have always been there for me. They’ve supported me through the hardest times. They are like family to me. I am very lucky

Boys, stop hugging and kissing!

ONDON—The British government is increasingly troubled by soccer players hugging and kissing in celebrations, risking coronavirus infections and the sport’s ability to be allowed to continue during the latest lockdown. Outbreaks at Premier League teams,

forcing the postponement of matches, have heightened concerns about the avoidable and very visible close contact between players. “Everyone in the country has had to change the way they interact with people and ways of working,” Sports Minister Nigel

to have a good support system,” he said. Adiwang returns to the One Circle at One: Unbreakable next Friday in Singapore for his first fight since losing a close split decision to Japan’s Hiroba Minowa last November. “I am more motivated now than ever to achieve my goals, and apply the lessons I learned in 2020,” he said. “I know the pressure is on, and I can feel the pressure. I know I have to prove myself to the world again, to earn the people’s trust.” Huddleston tweeted Wednesday. “Footballers are no exception. Covid secure guidelines exist for football. Footballers must follow them and football authorities enforce them—strictly.” Amid a surge in Covid-19 cases, the Premier League has warned clubs that punishments will be handed out for flouting the rules. Huddleston linked on Twitter to a news story about the league’s letter to clubs which specified players should avoid handshakes, high-fives and hugs and that they were “fortunate to be able to continue to play. “ That warning was not adhered to when players from Sheffield United and Manchester United embraced while celebrating scoring in their victories on Tuesday. And nothing really changed on Wednesday—despite the government’s renewed pleas earlier in the day. Almost all of Manchester City’s outfield players congratulated Phil Foden on his goal that earned a 1-0 win over Brighton, and it ended in a large group hug. “It is instinct and reaction. It is difficult,” City manager Pep Guardiola said. The league configured protocols for the return of games in March in conjunction with Jonathan Van-Tam, the deputy chief medical officer for England, who also urged players to avoid hugging and kissing on Wednesday. A more contagious variant of Covid-19 is sweeping across Britain where there have been more than 83,000 deaths from the disease. Britain reported 1,243 deaths on Tuesday, its second-highest number of daily fatalities since the start of the pandemic last year. AP SHEFFIELD United’s Billy Sharp (center) celebrates after scoring his side’s first goal during their English Premier League match against Newcastle United at the Bramall Lane Stadium in Sheffield, England, early this week. AP

Friday, January 15, 2021 B7

All are under contract through 2022-23, with Harden and Durant both set to earn more than $40 million in each of the next two seasons. In the meantime, the Nets were shorthanded for their game against the New York Knicks at Madison Square Garden, where coach Steve Nash declined to discuss Harden but did confirm that the players the Nets were trading were not in the building during their 116-109 victory. Off to a 7-6 start in his rookie season as coach, now the former point guard and twotime NBA MVP will have to mold an offense that keeps the ball moving with three players worthy of having it in their hands. “It’s a simple game but it becomes complicated when you put different personalities and players on the floor,” Nash said. “Our group’s done a really good job being unselfish this year and trying to move the ball and work together, so I’ve been proud of that.” The blockbuster deal provides a needed boost amid a period of drama for both franchises. It was struck less than 24 hours after Harden seemed to deliver a farewell address of sorts following the Rockets’ loss to the Los Angeles Lakers on Tuesday night, and just before Irving was set to miss a fifth straight game during a personal absence from the Nets. At least four draft picks and additional pick swaps are also part of the deal, the person said. Other key players: Victor Oladipo goes

from Indiana to Houston, and Caris LeVert goes from Brooklyn to Indiana, the person said. The Cavaliers will get Jarrett Allen and Taurean Prince from the Nets in the deal, a person familiar with the trade told the AP. Harden, who has cycled through Chris Paul and Russell Westbrook as teammates in recent seasons, didn’t think much of the roster the Rockets had around him this season. “We’re just not good enough.... I love this city. I literally have done everything that I can,” Harden said Tuesday night. “I mean, this situation is crazy. It’s something that I don’t think can be fixed.” It couldn’t, and now he’s gone. Brooklyn expects Harden to leave all that behind him and that his transition to the Nets will be smooth. He should be much happier in Brooklyn, having teamed with Durant in Oklahoma City when they were younger and remaining close still. “It was fun,” Durant said of their time together, declining to say much more with the trade still not completed. It was obvious the end for Harden in Houston was nearing Wednesday, when the Rockets told him they didn’t want him at practice after his inflammatory comments about the team. “We felt it was best for James and best for the group for him not to come to practice,” firstyear coach Stephen Silas said. About two hours later, ESPN and The Athletic first reported that Harden was being moved. AP

Motoring BusinessMirror

B8 Friday, January 15, 2021

Editor: Tet Andolong

Mazda introduces the BT-50

4x4 Pangolin Edition

Story by Randy S. Peregrino

OR Mazda Philippines, championing wildlife preservation is best manifested by introducing a pickup variant dedicated to raising awareness of a critically endangered species— the BT-50 4x4 Pangolin Edition. As the name derivation, the pickup represents the endangered and world's most trafficked mammal, which features design elements that ensure long, versatile, and steady service, matching its namesake's gentle tenacity. “The BT-50 Pangolin is Mazda Philippines’s way to acknowledge our important role in preserving the delicate balance of our environment as we go about our daily lives,” shared Mazda Philippines President and CEO Steven Tan. Standard to the new Pangolin variant is the Matte Black finish front grille, aluminum roof rack, roll bars, and riveted fender flares. Moreover, the truck rolls with 17-inch ROTA alloy wheels complementing the unique body decal. Inside, a seven-inch touchscreen JVC infotainment system with Apple CarPlay and Android Auto smartphone mirroring

capability and black leather steering wheel matched with controls matched with black leather seats. Motivation comes from a potent 3.2-liter five-cylinder common-rail turbo diesel engine dishing out 197 hp and 47 N-m of maximum torque. Available body color options are Cool White, Titanium Flash, True Red, Jet Black, Aluminum Metallic, and Deep Crystal Blue. The BT-50 4x4 Pangolin Edition's special introductory price is P1,400,000 (P150,000 less than the regular SRP). Moreover, the BT50 4x4 Pangolin comes with a Mazda 5-Year Free Service Plan that includes 10 Periodic Maintenance Service schedules over five years, or 100,000 kilometers, whichever occurs first.

Partnership with Katala Foundation

Mazda Philippines also teamed up

with the Katala Foundation, a nonstock, non-profit Philippine NGO that is active in protecting and conserving threatened endemic wildlife like the Pangolin. “The Philippine Pangolin is an endemic and critically endangered species that deserves our attention and concern. That is why together with Katala Foundation, we at Mazda Philippines will make use of the enduring nature of the BT-50 to promote awareness and inspire conservation of one the Philippines's and the world's most critically endangered mammals,” Tan explained. To add further credence to its

Vaccine gives hope but not DTI’s new tariffs

UST as hopes of recovery waft in the nippy air—what with the virus-vaccine’s muchawaited arrival—the car world got blindsided by the news of new tariffs that might be imposed soon, mostly on imported vehicles. Almost every captain in the industry got jolted by it, their reaction almost as violent as the eruption of Mt. Taal almost exactly a year ago. Anent to this, here’s the continuing smorgasbord of ideas and analyses of what’s to come this year from our shakers and shapers of the local motoring world:

Atty. Alberto B. Arcilla President & CEO, The Covenant Car Company Inc.

“We will expect aggressive promotions in the first quarter from all brands as all would want to liquidate inventory from 2020 stocks. “The market will naturally grow as the need for mobility requirements will be more pronounced in the first semester as we await for the vaccine to be released. “The Car A and B, Small SUV segment will continue to grow as seen in 2020. These segments being a good option for the market that is looking for low priced but well equipped models. “The market will continue its appreciation of new brands, models and source plants. The strong emergence and growth of new brands since 2019 will be a good foundation for the growth in 2021.”

Froy Dytianquin General Manager, Sojitz

“Initially, I was looking at three items that 2021 will bring forth to the auto industry: Resurgence, Steady Growth and Stability. “However, upon getting news about the DTI intending to slap safeguards on auto industry with bigger cash bonds for imported vehicles and eventually leading to higher tariffs later,

I believe these three items will change to Sales Rush, Uncertainty and Adjustment. “The additional bonds the DTI will impose on imported vehicles will not be absorbed by importers and distributors but rather, they will be passed on to consumers. “So, definitely, price increases loom and we will expect some sort of panic buying before the new prices take in effect. “Then after it takes effect, uncertainty lurks until the tariff commission whether to recommend or not additional taxes to be imposed. Meantime, there will definitely be a lull. “Adjustment will then follow as the market tries to adapt to the new prices.”

Tey Sornet President, Southgatemotors Ventures Corp.

“1. Vaccine will spur growth in the economy, as people can start working regularly again, leading to businesses starting to pick up, giving banks confidence to increase credit approvals. “2. I forecast a moderate growth in the TIV (Total Inventory Vehicles) to 320k units sold in 2021. “3. Vehicles priced below P1.2 million will remain the most saleable. “4. I expect the Top 3 Japanese companies to maintain their positions—Toyota, Mitsubishi and Nissan. But Chinese players like MG, Foton, Geely and Chery would become stronger and pose a significant challenge against the established brands.”

Raymond T. Rodriguez President, Lexus Manila

“Growth in sales most certainly to happen in 2021. “Continuous sales promotions spawned by new and exciting models. “Sustained implementation of safety protocols and social distancing at dealerships is key to survival. No way but up.

newfound advocacy, Mazda Philippines will lend a Mazda BT-50 4x4 Pangolin to the Katala Foundation for one year. With Mazda's support, the NGO will make use of the pickup truck to promote its wildlife protection advocacies and perform its preservation and monitoring duties during this time. “What an appropriate choice Mazda made to give the much-needed attention that the Palawan Pangolin deserves," said Katala Foundation's Program Director, Indira LacernaWidmann. "We hope that with this vehicle, we will have the right direction to achieve the conservation

“Increase in digital marketing should produce more customers. Online inquiries will be the new normal throughout the year. But test drives will still be key in helping customers decide on their purchase.”

Willy Soong Automotive icon

“Demand will shrink further. “Banks’ appetite for auto loans will shrink. “Many dealerships will carry the biggest brunt of the costs of capitalization.”

status of this species. It's an honor for us. The passion that we work for this species—and for other species we are working on—is also carried in the passion for this vehicle.” On December 18, 2020, Mazda Philippines formally turned over a BT-50 4x4 Pangolin Edition to the Katala Foundation to support the NGO's conservation activities for the endangered Palawan Pangolin. The brand-new BT-50 Pangolin unit will replace the organization's aging 1996 Mazda Proceed. The brand-new unit will service the foundation for one year to support its Pangolin monitoring and

population checking activities in different locations around Puerto Princesa, Palawan. “With all the challenges and threats that the Palawan Pangolin is currently facing, it is only fitting that Mazda Philippines sends over its Christmas gift for the Pangolins this early so that we can help stop the trafficking and contribute to their protection and preservation," said Tan. “We are committed to supporting Katala Foundation's activities as it pursues the conservation status of one of the most endangered species in the world. It is our hope that the Katala Foundation's use of the BT50 Pangolin Edition will continue to call attention to the plight of this species and help save the country's endemic wildlife and fragile ecosystem,” he added. Lacerna-Widmann, for her part, shared, “This pickup truck also represents the same challenges that the Palawan Pangolin faces today. We hope that together with the support of Mazda Philippines, we can finally head in the right direction to achieve the conservation status of this species. We would like to thank Mazda Philippines for this opportunity. It is an honor for us to be its partner in this mission. Our companies share the same passion in our work for this species as well as in the development of this vehicle.”

Geely Philippines: A look back at 2020

Rommel Gutierrez Vice President for Legal, TMP

“As if the adverse impact of the pandemic is not enough, the decision to impose provisional safeguard measures against imported vehicles is yet another blow to the automotive industry. “This will further derail the recovery efforts of industry players and stakeholders. “While Campi supports the development of local vehicle manufacturing, it has consistently opposed the imposition of safeguard duties against imported, completely built-up units or CBUs. “We project further reduction in sales volume which, in turn, poses risk of employment downsizing, not to mention government revenue losses. This will also encourage revival of gray market/used vehicles. “With much uncertainty, investments in dealer expansion and parts localization may be deferred. “The risk in the short term will be disruption in regional production and supply. In the medium to long term, this will further slowdown regional economic growth because of chain reaction to other industrial sectors. “Furthermore, this could potentially weaken trade and economic relations triggered by retaliation by concerned exporting countries to the Philippines.”

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AST year has been a tough year. The coronavirus outbreak has spared no one and has slapped businesses with series of plunging sales, layoffs, and closures. One of the hardest-hit sectors was the automotive industry. As the pandemic impeded so many plans, keeping the businesses afloat presented a great challenge. And as some experts see it, this impact is seen to spill over into 2021 until a legitimate solution is found. But looking back, 2020 has not been so bad at all for Geely Philippines as it has rebounded to deliver its sales targets in most of the months. One of its models, the Coolray, even managed to pull off an impressive feat in terms of sales after emerging as a top-seller among the five-seater subcompact crossovers for 3 months last year. Geely Philippines has also received awards and recognitions from credible auto news sites in the country: n C! Magazine -Best Subcompact Crossover (Coolray) -Best Compact Crossover (Azkarra) n Auto Focus -Best Value for Money Subcompact Crossover n Autoindustriya.com -2020 Autoindustriya.com Editors’ Pick n CarGuide -Top 5 Picks for 2020 (Top 2) Although the expansion plans were stalled by the lockdown, Geely was still

able to open up six more outlets in addition to North Edsa, its maiden dealership outlet. Through the trust and confidence of Sojitz G Auto Philippines’s (SGAP) business partners to the brand, Geely was able to open more outlets last year: Quezon Avenue, Cagayan de Oro, Lipa, Zamboanga, General Santos, and Imus, Cavite. 21 more dealerships in key markets are expected to rise in 2021. “Geely is definitely starting the year right coming from an illustrious performance last year. Apart from our customers, the awards and recognitions we have received for the past year are our driving force to do better this year. This means a lot to us as we build our name in the industry and strive to be a major player in the market amid an economic downturn,” SGAP President & CEO Mikihisa Takayama said. “We want to keep our eyes on the bright spots amid the pandemic and other future challenges this year may bring us. I personally think that ‘quality, affordability, and customer delight’ should be instilled in businesses during the crisis. This period of decline in our economy is a good time to prove to our customers the quality and efficiency our brand could offer without having to burden them too much financially. It has been a week since we welcomed the year with high hopes that 2021 will be a lot better for us. Let us all move forward together,” Takayama added.