BusinessMirror January 24, 2022 by BusinessMirror

Overseas Filipino Workers (OFWs) who are eager to spend Christmas

this could help prevent placing the country in another strict lockdown,

this newspaper, is for travel restrictions to be put in place swiftly and

quences on the economy.” See “Omicron,” A2

NATL GOVT BORROWINGS BIZ GROUPS PUSH PSA, FOR 10 MOS DIP TO P2.75T RCEP RATIFICATION w w

Monday, January 29, 24, 2021 2022 Vol. 17 No.52 No. 108 Monday, November

n n

P25.00 P25.00 nationwide nationwide || 22 sections sections 18 20 pages pages ||

By Bernadette D. Nicolas @BNicolasBM By Tyrone Jasper C. Piad

T L

Omicron risk

Peza spurspushes revival bid to lift NCR of quarantine ecozone rules in ban PHL for IT-BPM

@Tyronepiad

HE national government’s OCAL and gross foreign borrowings as of business end-October shrank groups are pushing by almost 6 percent two economic year-on-year to measures— P2.75 trillion. ratification of

the Regional Comprehensive Latest data from the Bureau of the Treasury showed that the governEconomic ment’s gross borrowings during the Partnership 10-month period fell by 5.99 percent from P2.92 trillion year ago. (RCEP) and aPublic With only two months left for Service (PSA) this year, theAct latest figure is already equivalent to 89.6 percent of its amendments—before P3.07-trillion borrowing program. legislators godomestic into borBroken down, gross rowings fromcampaign January to October election settled at P2.23 trillion, down by recess. They said trillion 5.08 percent from P2.35 in 2020. will allow more these The bulk of the amount was investments sourced from Fixed and Rate Treasury Bonds (P1.19 trillion), followed by business activities short-term borrowings from Bangthat can aid recovery. ko Sentral ng Pilipinas or BSP (P540

billion), Retail Treasury Bonds/Premyo Bonds (P463.3 billion), Retail The Joint Foreign Chambers Onshore Dollar Bonds (P80.84 bil(JFC), in a statement, called on the lion). In the same period, there was Senate to finally ratify the Philipalso a net redemption of Treasury pines’s membership in RCEP, one Bills amounting to P43.94 billion. of the world’s biggest economic Net debt redemption means deals, to access more business there were more debts repaid comopportunities. pared to the amount borrowed durOver 70 agricultural sector ing the period. groups, however, are seeking the Meanwhile, gross foreign boropposite (story below, anchor), askrowings in the same period also ing senators to either reject, or at contracted by 9.7 percent to P518.7 least defer approval of, RCEP. billion from last year’s P574.4 billion. RCEP, which entered into force This was raised through global this month, is a free trade agreebonds (P146.17 billion), program ment among Asean countries and loans (P139.98 billion), euro-detheir trading partners including nominated bonds (P121.97 billion), Australia, China, Japan, New Zeaa project loan (P86.41 billion), and land and South Korea. This repreyen-denominated samurai bonds sents 30 percent of the global gross (P24.19 billion). domestic product (GDP) or $26.2 See “Borrowings,” A2 trillion. “As business associations representing major industrialized economies, we are concerned the Philippines export industry that has been severely hit by the pandemic, will miss out unless this free trade agreement is approved by the Senate,” Canadian Chamber of Commerce of the Philippines President Julian Payne said, warning that non-participation puts the country at a disadvantage compared with other RCEP signatories. Chamber of Commerce of the Philippines President Lars Wittig, meanwhile, said that ratifying RCEP will complement other economic reforms that the government has been pursuing to liberalize the economy, such as the Foreign Investment Act, Retail Trade Act and PSA.

PESO EXCHANGE RATES

By Samuel P. Medenilla @sam_medenilla

PEOPLE walk past the mural of Gat Andres Bonifacio at Manila City Hall Underpass. The country will celebrate the 158th birth anniversary of Filipino revolutionary hero Gat Andres Bonifacio on Tuesday, November 30. ROY DOMINGO

NTER NATIONA L concerns over the possible spread of the more infectious Omicron Covid-19 variant prompted the government to reimpose mandatory facility-based quarantine for all arriving passengers in the country. Acting Presidential spokesperson Karlo B. Nograles announced on Sunday that the Inter-Agency Task Force for the Management of Emerging Infectious Diseases “We’ve been writing, reiterating ours and (IATF) suspended the implementhe IT-BPM and real estate companies’ tation of its Resolution No. 150request to lift the moratorium.” A (s.2021), effectively imposing —Peza Director General Charito Plaza stricter protocols for all inbound travelers. By Tyrone Jasper C. Piad To note, IATF Resolution 150@Tyronepiad A had allowed fully vaccinated non-visa travelers from Green List HE Philippine Economic areas to enter the country withZone Authority (Peza) is out the need for facility-based still hoping that the ban quarantine as long as they secure on new ecozone development negative Reverse Transcriptionin Metro Manila will be lifted Polymerase Chain Reaction (RTsoon given the demand for exPCR) test within 72 hours prior pansion, especially from the into their departure. formation technology-business “Except for countries classified them. This allows everyone to see programs as President Duterte process management (IT-BPM) as ‘Red,’ the testing and quarantine who are listed in the registry and if is expected to sign the industry companies. protocols for all inbound internafarmer doesn’t see his name then he development plan in early 2022. “We’ve been writing, reiterattional travelers in all ports of entry shall coordinate with the PCA imRosales said the PCA will not ing ours and the IT-BPM and real shall comply with the testing and mediately,” he explained at a recent stop updating its list of coconut estate companies’ request to lift quarantine protocols for ‘Yellow’ dialogue with coconut farmers. farmers and enjoined them to regthe moratorium,” Peza Director list countries,” Nograles said, citing “On the other hand, if people ister in order to reap the benefits General Charito Plaza told the the provision of IATF Resolution would see names on the list and of the decades-long idled coconut BusinessMirror. No. 151-A. they think they are not coconut levy fund. “We will not stop at 3.1 She said that lifting the ban is He noted Hong Kong, which has farmers or their details are incormillion. We hope that more indicrucial, “especially now that we’re confirmed a case of the Omicron rect, they can report it to the PCA viduals will register in our coconut encouraging expansions and new variant, will also fall under the Yelfor immediate action,” he added. farmers registry,” he said. investments.” low list countries. The PCA official noted that The updating of the coconut As such, Plaza urged governThe suspension of the rules for the completion of the initial list farmers registry is mandated by ment officials to give focus to lift“Green List” countries will be in of coconut farmers registry would Republic Act (RA) 11524 or the ing the ecozone ban. effect from November 28, 2021 to be just in time for the expected Coconut Industry Trust Fund Act. T he mor at or iu m o n ne w December 15, 2021. See “3-M farmers,” A2 rollout of coconut levy-funded ecozones in the National Capital Continued on A2 Region is in line with Administrative Order (AO) 18 released June 2019, which aims to spur n SINGAPORE 36.8968 n AUSTRALIA 36.2807 n EU 56.5758 n SAUDI ARABIAin13.4531 Source: BSP (November 26, 2021) economic activities in the countryside as well. The regulator of ecozones noted that among the locator companies that are “aggressive” in total agricultural tariff lines and concealed” a “crucial” caveat of expanding under the new normal trade value,” they said. the trade pact, which is that any is the IT-BPM sector, supporting “For instance, the Japanese oftariff confession from our trading Peza’s initiatives for the digital fer to drop tariffs on chocolates partners under RCEP will not be economy. to zero applies to a single and obexclusive to the Philippines and Plaza, with this, stressed the scure tariff line for ‘other’ choco“will actually be available to all need to keep on pursuing investlates, which we most probably do other member-countries.” ment opportunities despite the not export. Likewise, we need “There is therefore no assurpandemic. to wait 20 years before China’s ance, and only a small chance, “Business must be as usual and tariff on our canned pineapples that we can take advantage of better because of our pandemic and becomes zero, even as the curthese trade opportunities inasdisaster experiences; we pursue rent tariff is already very low at much as other RCEP countries businesses and ecozones that are 5 percent,” they added. are way ahead of us in terms of durable, crisis and disaster-proof, The groups argued that RCEP competitiveness, efficiency and and modern with the demands and proponents have “conveniently dependability,” they said. the challenges of new normal,” she downplayed” or “deliberately See “Agri groups,” A2 added.

OVER 3-M FARMERS LISTED FOR P75-B COCO LEVY FUND By Jasper Emmanuel Y. Arcalas @jearcalas

ORE than 3 million coconut farmers and workers are now registered with the government’s registry, which serves as the basis for the number of people to be covered by the utilization of the P75-billion coconut levy fund. Philippine Coconut Authority (PCA) Deputy Administrator Roel M. Rosales said about 3.11 million coconut farmers and farm workers have been registered with the government since it started up-

dating its registry following the enactment of the Coconut Farmers and Industry Trust Fund law. Rosales explained that about 500,000 coconut farmers and workers were added to the PCA’s 2018 list that had about 2.5 million coconut farmers and farm workers. The PCA’s next step is to conduct an exclusion-inclusion procedure by making the updated farmers’ registry public, providing everyone the opportunity to check the veracity of the list, Rosales added. “The list will be posted in public spaces where people can easily see

A WORKER does his trade at a bakeshop in Las Piñas City. Prices of bread products are poised to increase due to REYESUK 67.2329 tags n of flour and sugar. n the USsoaring 50.4600 JAPAN 0.4374NONIEn

n HK 6.4722 n CHINA 7.9013

70 AGRI GROUPS TO SENATE: REJECT, OR DELAY RCEP By Jasper Emmanuel Y. Arcalas @jearcalas

VER 70 agriculture industry groups and organizations renewed their call for senators to reject or at least delay the ratification of the Regional Comprehensive Economic Partnership (RCEP), which they reiterated would be detrimental to local food producers. “We—the undersigned representatives of farmers, fishers, workers, civil society organizations and the private sector—

reiterate our urgent plea to the Senate to reject, or at the very least defer any decision on, the Regional Comprehensive Economic Partnership [RCEP] trade agreement,” the groups said in a joint statement issued on Sunday. The groups pointed out that the “purported gains” from the RCEP are “insignificant.” “While the country may have gained some concessions which are better than those under existing free trade agreements [FTAs] with RCEP countries, these involve a very small percentage of

See “Peza,” A2

See “Biz groups,” A2

PESO EXCHANGE RATES n US 51.4280

n JAPAN 0.4508 n UK 69.9575 n HK 6.6050 n CHINA 8.1097 n SINGAPORE 38.1740 n AUSTRALIA 37.1567 n EU 58.1856 n SAUDI ARABIA 13.7101

Source: BSP (January 21, 2021)

News

BusinessMirror

A2 Monday, January 24, 2022

Comelec flags public-works ban exemptions deadline

By Samuel P. Medenilla

@sam_medenilla

VEN government’s response to the Covid-19 pandemic will be covered by the Commission on Elections’ prohibition for public works in relation to the 2022 polls. Comelec Commissioner Rowena V. Guanzon made the reminder amid the looming deadline for the filing of exemptions from the said prohibition. “Governors and Mayors, national agency heads can file for

Comelec exemption from ban on project implementation and cash disbursements due to the pandemic,” Guanzon said in a post in her Twitter account. Under Comelec rules, public officials or employees, including

Biz groups...

Continued from A1

“The ratification of the RCEP will be instrumental to instilling foreign-investor confidence in the country, which will be urgently needed to revive the economy,” said Daniel Alexander, president of the Australian-New Zealand Chamber of Commerce of the Philippines.

Sourcing raw materials

THE loca l gar ment industr y, through Confederation of Wearable Exporters of the Philippines (Con-

wep) and its affiliate the Coalition of the Philippine Manufacturers of PPE (CPMP), also called for the Senate’s concurrence of RCEP to allow them to source raw materials such as yarn and fabric from foreign markets. Conwep Executive Director Maritess Jonson-Agoncillo and CPMP Executive Director Rosette Carrillo, in a letter to the Department of Trade and Industry (DTI), stressed that the industry needs “RCEP to sustain such

barangay officials and those of government-owned or -controlled corporations (GOCC) and their subsidiaries, cannot release, disburse or expend public funds for any and all kinds of public works during the period of 45 days prior to a regular election and 30 days before a special election. However, the restriction will not cover maintenance of existing and/ or completed public works projects, public works projects undertaken by contract through public bidding or by negotiated contract awarded, and payment of the usual cost of preparation of public works project and all incidental expenses for wages of watchmen and other laborers employed for such work. Also not covered by the ban are emergency work necessitated by the occurrence of a public calamity limited to the restoration of the

damaged facility, ongoing public works projects commenced before the campaign period under foreign agreements or by the administration. In the case of the 2022 elections, the ban for public works will take effect from March 25, 2022 to May 8, 2022. Comelec noted that the heads of concerned government offices including GOCC, government financing institutions and state universities and colleges must apply to be covered by the said exemption. Instr uctions for the filing for a certificate of exception may be accessed at Comelec’s website at https://comelec.gov. ph/?r=2022NLE/PublicWorks. The violation of prohibition of public works is considered an election offense, which may be sanctioned with imprisonment.

opportunities.” “Other w ise, we again lose these orders, as well as significant planned investments on apparel and textile from countries such as China, Taiwan, and others, to Vietnam which is expected to resume its operations in the next couple of months,” they added. In an earlier joint statement, several Philippine business organizations expressed the same sentiment. These include the Financial Executives Institute of the Philippines, Makati Business Club, Management Association of the Philip-

pines and Philippine Council for Foreign Relations. “Like any free trade agreement, RCEP provides wide economic opportunities for our country, along with certain threats to uncompetitive industries, and individual producers and their workers. And like in the other free trade agreements the country has joined, the overall economic gains in terms of net job creation, economic growth and price stabilization will well outweigh the costs,” they said. The business groups said the trading agreement will allow micro, small and medium enterprises gain further market access, in addition to cheaper alternative sources for inputs and lower costs for doing business given the improved trade facilitation. “Exclusion from RCEP would be immensely costly to our economy and our people. We can anticipate a significant decline in our exports to RCEP countries, which now account for nearly two-thirds [64 percent] of our total exports, as trade with us will logically be diverted to fellow members,” the statement read.

PSA amendments

IN a separate statement, meanwhile, business groups and foreign chambers urged the Congress to ratify the bicameral conference committee report on the bill amending the PSA. The private sector groups said that “PSA reform is one of the most important for the Philippine economy in many decades and is essential to restoring and eventually exceeding prepandemic rates of economic growth.” They said the measures will encourage further new capital inflows that can support construction of crucial infrastructure such as telecommunication and transportation services for air, ground and marine. Citing a Congress report, the business groups said the PSA amendments will result in over $300 billion worth of foreign direct investments in the next five years. These are expected to add almost a half percent to the country’s annual GDP growth. “Eventually, consumers will enjoy the benefits of increased competition from more choices of service providers with better technology, pricing, and customer service,” they added. The signatories stressed the need to liberalize these sectors: airports and seaports, tollways/express ways, air carriers, telecommunications and public utility vehicles. “Finally, the justified concerns of policy-makers in government for national security should be satisfied by the language in the Senate bill, which restricts state-owned enterprises [SOEs] from owning public services and creates a process for all foreign investments in public services to be reviewed and approved by the president,” they concluded.

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SALCEDA PUSHES RAMPED-UP STUDENT LOANS PROGRAM

LEA DER of the House of Representatives is pushing for the full implementation of the Higher Education Contribution Scheme (HECS) under the Free College Tuition Law (RA 10931), a low-interest student loans program, where students will amortize their tuition loans only when they reach a certain income level. House Committee on Ways and Means Chairman Joey Sarte Salceda said the scheme will ensure that “anybody can go to any private school they choose as long as they pass the admissions requirements of that school.” Salceda added: “Undeniably, there are private school programs, especially in top private universities, that state universities and colleges cannot offer. Private universities are also a source of innovation in higher education in the country. We want to make sure that every student can go to any school they choose as long as they pass the requirements of that school.” With higher income in the future, Salceda explained, “the student should be able to gradually pay off the loan through reasonable monthly contributions incorporated in the SSS or GSIS contributions. Payment of the loan amount will commence once the beneficiary secures any gainful employment with compensation, remuneration or earnings that reaches the Compulsory Repayment Threshold [CRT]. Hence, the student repays

Peza...

only once capable, and, being statefinanced, the loans do not balloon unlike the US model,” Salceda added. Section 8 of RA 10931 would allow that by providing very low-interest student loans that borrowers can pay as a small deduction from their salaries once they reach a certain salary level. “If they earn below that level, they will not yet be required to start paying,” Salceda, the principal author of the Free College Tuition Law, added. Salceda made the pitch in his acceptance speech for a Plaque of Appreciation awarded by the Coordinating Council of Private Educational Associations of the Philippines (Cocopea) in recognition of his principal authorship and sponsorship of a clearer tax regime for private schools under RA 11635, which President Duterte recently signed. “The theory is that private expenditures on education are a means to increase long-term personal income. Hence, a portion of that hypothetical future income can be borrowed by the student to finance present education fees,” Salceda said in his speech. Salceda describes the scheme as a “progressive study-now, pay-later scheme.” Salceda also described the scheme as a “balancing factor” to the free college tuition scheme in state universities and colleges. “If state university is now free, we need to find a balancing factor to make private education affordable, too,” said Salceda. Jovee Marie N. Dela Cruz

Continued from A1

Earlier, Peza said the pending ITBPM investments in Metro Manila may still proceed following the provisions of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act despite the ecozone ban. “If you read through the provisions of CREATE, it allowed the operations of eligible projects in Metro Manila with incentives and this will be to the inclusion of IT projects,” Peza Deputy Director General for Policy and Planning Tereso Panga said previously. Based on the implementing rules and regulations of CREATE, the Fiscal Incentives Review Board is tasked to finalize a list of priority sectors which will be granted incentives. Trade Secretary Ramon Lopez earlier identified the IT-BPM as among the critical sectors.

Still, Panga said that Peza still wanted to secure a “categorical position” from the Office of the President to proclaim the applications as ecozones. The BusinessMirror earlier reported that Peza was seeking to lift the AO 18 to give way to inquiries for IT parks and centers in NCR amounting to P16.07 billion in total as of April 30. Broken down, data obtained by this newspaper showed 10 applications for IT center amounting to P15.5 billion and one inquiry for a P573.93-million IT park. Currently, 167 IT parks and centers are located in NCR, most of which are in Makati, Quezon City and Pasig. There are over 290 IT parks and centers in total across the country out of 410 ecozones under Peza’s regulation.

Agri groups...

Continued from A1

“Moreover, while RCEP may provide more incentives for foreign investors to come to the Philippines, they can just as easily decide to place their money in other countries where the environment for doing business is more attractive,” they added. The groups maintained that there has been a “conscious effort to belittle the potential damage of RCEP and other trade agreements to many sectors in our economy, particularly agriculture.” “Yet, these concerns are real and validated by experience. To cite a few: Almost all our tariffs on fishery, dairy, cacao and tobacco products will drop to zero on the very first year of RCEP,” they said. “Import duties on high-fructose corn syrup and other substitutes to our cane sugar will also be eliminated. Our farmers in the Cordilleras and other areas will face a deluge of cheap vegetables from China,” they added. “All this, with our local producers left with little or no protection because of stringent RCEP rules on the use of additional tariff safeguards during import surges.” The groups urged senators to be skeptical about the “rosy projections” made by proponents of the RCEP, saying these calculations are “based on unrealistic assumptions and have historically been grossly off the mark.” Citing the ratification of the GATT-Uruguay Round Agreement in 1995, the groups noted that the proponents’ promises of the trade pact —which include a $3.4-billion

increase in agricultural exports, P60-billion increase in agricultural gross value added and 500,00 additional jobs—did not materialize. “The Senate has been warned that ‘we will miss the [RCEP] bus’ if we don’t join now. This is again patently misleading. In the first place, are we sure the bus will not run over us? Where is that bus going, and is that where we want to go? And is the RCEP bus the best vehicle to bring us to our desired destination?” they said. “RCEP will actually perpetuate, if not aggravate, the adverse impacts of these threats especially because of the non-implementation of laws and programs that were promised in the past and intended to improve the resiliency and competitiveness of our vulnerable sectors. To make matters worse, our government has gone on an import spree while unilaterally cutting tariff rates for sensitive products like rice and pork [and perhaps soon, corn and sugar], without getting any trade concession in return,” they added. The statement was signed by groups such as Federation of Free Farmers, Agricultural Sector Alliance of the Philippines, Inc., AgroPlanters Association, Pampanga, Alyansa Agrikultura, Anakpawis Party-List, Centro Saka Inc., Confederation of Coconut Farmers Organizations of the Philippines, Confederation of Sugar Producers Associations, Inc., Council of the Laity of the Philippines, and IBON Foundation, among others.

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The Nation BusinessMirror

Time to rebuild: Marawi displaced families apply for building permits By Manuel T. Cayon @awimailbox Mindanao Bureau Chief

AVAO CITY—More than 2,000 families displaced by the 2017 Marawi siege have recently applied for building permits in the area that was part of the so-called “ground zero,” the area of intense battle. According to the Task Force Bangon Marawi (TFBM), some 865 of these families have already been given the permits they applied for. Secretary Eduardo D. del Rosario of the Department of Human Settlements and Urban Development (DHSUD) announced this on Thursday during his visit to Marawi City. Del Rosario, who also heads TFBM, said the families were given building permits to start reconstructing their homes inside the most affected area (MAA) but only in sectors that were already cleared of unexploded bombs and improvised explosive devices. “Everything is moving forward and we are optimistic we can reach our target very soon,” he said. Those granted the permits were among the 2,418 applicants from Sectors 1 to 7 composed of 15 barangays. Despite criticism of slow work in clearing the area and allowing residents to return to their former

location, Del Rosario lauded the task force’s implementing agencies “for doing their role in the massive rehabilitation effort”. “For my visit this January, I can see that all the implementing agencies are doing their part, and with the updates given to me yesterday (Wednesday), everything is going smooth,” he said. He said recent development works in the area were delayed by the ongoing Covid-19 pandemic, severe weather conditions and land issues but he said Marawi City’s rehabilitation remain on track. Last year, the task force posted photographs of the rehabilitated Grand Mosque, which was among damaged structures in the fighting. Last Thursday, Del Rosario inaugurated the Agus 3 Pumping Bridge and the Lilod Madaya Barangay Complex. He also inspected the construction of a 15-hectare sanitary landfill. Del Rosario also said construction of structures at the MAA “are in full blast.” These are: the Sarimanok Sports Complex; the Marawi Convention Center; the shopping mall-like Grand Padian Market with an ice plant; and, the Lake Lanao Promenade. He said the Peace Memorial, the Marawi Museum and the School of Living Traditions at the Rizal Park would be completed soon.

Review restrictions vs unvaxxed–IBP By Joel R. San Juan @jrsanjuan1573

HE Integrated Bar of the Philippines (IBP) has called on government policy-makers for Covid-19 pandemic to review the various restrictions being implemented against unvaccinated people as these tend to violate their constitutional rights. The IBP was particularly referring to the “no vaccine, no ride policy” and the “no vaccine-stay home policy” of the government, which, it said, may encounter legal hurdles for being unreasonable. The group also questioned the legal basis for threatening unvaccinated individuals with arrest. While these restrictions are intended to protect public health during this pandemic, the IBP said these also restrict an individual’s right to travel or movement which is guaranteed under the Constitution except for three considerations— national security, public safety or public health. “ The IBP understands that vaccination remains the primary scientific way out of this Covid-19 pandemic. In fact, the IBP strongly supports the vaccination drive of the government. What we cannot understand is why unvaccinated persons are treated in a manner that appears to be in violation of their constitutional rights,” it explained. It also noted that the constitu-

DOH told: ensure delivery of public health services and benefits for health workers By Butch Fernandez @butchfBM

ONCERNED agencies under the Duterte Administration were prodded over the weekend to ensure quick public access to health services, as well as timely delivery of entitled “risk benefits” for health care workers (HCW) deployed in the field to combat the deadly Coronavirus (Covid) contagion. Administration Senator Christopher Lawrence “Bong” T. Go aired an appeal Sunday to the agencies concerned to “make sure that healthcare workers (HCWs) receive all services and benefits due them,” citing the “recent approval of additional budget to cover the payment of the fourth batch of their Covid-19 Special Risk Allowance (SRA).” Sitting as chairman of the Senate Committee on Health, Go affirmed the status of health personnel deployed to the front lines in the fight against Covid-19 as he stressed the need for the Duterte government to “waste no time in providing what is owed to doctors, nurses and qualified medical workers.” In a statement over the weekend, the administration senator said he was persuading the government to “ensure that all the benefits and services provided by law for our health workers are given to them,” reminding that “they (health workers) are our heroes in this pandemic for continued services and sacrifices to save lives of fellow Filipinos.” (“Sila po ang mga bayani natin ngayong pandemya dahil sa kanilang patuloy na pagseserbisyo at pagsasakripisyo para maisalba ang buhay ng ating kapwa Pilipino.”) At the same time, Go recalled that President had earlier “approved the release of P1.185 billion” in funds charged against the 2021 Contingent Fund to cover the SRA of eligible private HCWs and non-Department of Health plantilla personnel yet to receive their SRA from December 20, 2020 to June 30, 2021. Responding to complaints from public and private health care workers yet to receive their SRA, the

Senator reminded that the president had also directed the DOH and the Department of Budget and Management “to expedite the utilization of funds for the benefit of the country’s HCWs.” Earlier, Go had successfully pushed for the allocation of a total of P51 billion in the 2022 national budget for the compensation of Covid-19 HCWs in 2022, stressing that the Duterte government should “do everything possible to help HCWs, considering their critical role in fighting the pandemic and preserving lives.” Moving to guarantee that their contributions and risks are adequately recognized, the administration lawmaker likewise affirmed support for extending coverage of the risk allowance to all health care workers assigned in hospitals, reminding that “given the significant number of Covid-19 cases accepted in the country’s healthcare institutions, “practically all HCWs fit the qualifications to receive the benefits under the law.” “Lahat naman ng health workers na naka-duty ay maituturing na exposed sa banta ng Covid-19. Hindi nakikita ang kalaban na ito kung kaya’t mahirap paghiwalayin pa kung sino ang exposed at sino ang hindi,” Go said. [All health workers on duty can be considered exposed to the threat of Covid-19. This opponent is invisible so it is difficult to separate who is exposed and who is not.] “Kaya ako umaapela na maging flexible tayo sa pag-i-implementa ng nakasaad sa batas at kung kakayanin ng pondo ay bigyan na lahat ng qualified ng fixed amount ng SRA kaysa bilangin pa natin ang kanilang pag-duty bawat araw.” [So I appeal that we be flexible in implementing what is stated in the law. And if we can afford to, to give all qualified a fixed amount of SRA rather than counting their duty per day.] He noted that the budget for the compensation and other benefits for Covid-19 workers in health facilities in the 2022 budget will be used for payment of Covid-19 benefits for all public and private health care workers and non-health care workers, regardless of employ-

Editor: Vittorio V. Vitug • Monday, January 24, 2022 A3

ment status, who are involved in Covid-19 response in all health facilities. The amount of Covid-19 benefits shall vary according to risk exposure of the health care worker and non-health care worker in particular settings: P3,000 for low risk; P6,000 for medium risk; and, P9,000 for high risk. Go had earlier authored and co-sponsored Senate Bill 2421 to provide health workers with fixed monthly Covid-19 Risk Allowance for the duration of the State of Emergency in lieu of the special risk allowance and other financial compensation granted under the Bayanihan 2. He notes that under the measure, those eligible for the benefits will include all healthcare workers and other necessary personnel assigned in health facilities. “As much as possible,” he suggested that “kung kakayanin naman ng pondo, ibigay na natin lahat ng suportang pwede nating ibigay. Hindi masusuklian ang hirap at sakripisyo nila upang makapagligtas ng buhay.” [If we can afford it, let’s give all the support we can. Their hard work and sacrifice to save lives cannot be repaid.] The Senator has been aggressive in promoting the interests and protecting the welfare of medical frontline workers, successfully pushing for free COVID-19 testing, personal protective equipment, hazard pay and special risk allowances for health workers at the start of the outbreak. He recalled filing as author and co-sponsor of Republic Act 11466 or the Salary Standardization Law 5 in 1019, now a law giving civilian government employees, including nurses, their fifth round of salary increases broken down in tranches. In the same year, Go likewise pushed for enough funding for the implementation of a Supreme Court decision upholding Section 32 of the Philippine Nursing Act of 2002 some 18 years after the law was enacted. The law increases the minimum salary grade of the Nurse I position to SG-15. The ruling was implemented the following year.

tional provision on how the right to travel may be limited was interpreted by the Supreme Court in the case of Genuino vs. Secretary De Lima, which held that there must be an explicit provision of statutory law or the Rules of Court providing for the impairment.

Not sufficient

HOWEVER, the IBP noted that Republic Act (RA) 11332 (An Act Providing and Prescribing Procedures on Surveillance and Response to Notifiable Diseases, Epidemics and Health Events of Public Health Concern and Appropriating Funds Therefor), RA 11469 (Bayanihan To Heal As One Act), RA11494 (Bayanihan To Recover as One Act) and RA 11525 (Covid-19 Vaccination Program Act of 2021) don’t contain provisions allowing the limitation of an unvaccinated individual’s right to travel or movement. “At present, there is no law that requires individuals to undergo compulsory vaccination against Covid-19. Existing laws pertaining to pandemic or epidemics of communicable diseases and vaccination do not contain provision that can be used as legal basis to compel individuals to be vaccinated against Covid-19,” the IBP said. While the IBP said it recognizes “that the ‘no vaccine, no ride policy’ and ‘no vaccine-stay home policy’ contain exceptions, such as religious beliefs, medical

conditions, work and accessing essential services for goods, these are not sufficient to address the legal questions that may be raised against these policies.

Legal questions

THE lawyers’ organization raised three legal questions, such as: whether individuals can be legally compelled to be vaccinated w it h ant i- Cov id-19 vaccines; whether the national government, through the Department of Transportation (DOTr) and its attached agencies, can legally issue a so- called “no vaccine, no ride” policy on public transportations; and, whether local government units (LGUs) can issue ordinances to enforce the so-called “no vaccine, stay-home” policy. “Assuming for the sake of argument that the DOTr ‘no vaccine, no ride’ order is an administrative regulation, then it is in the nature of a delegated legislative authority. In that situation, the IBP submits that this delegation of legislative authority is invalid because it is not clear under what law the delegation is contained.” “As to the LGU’s ‘no vaccine-stay home’ ordinances, it is also not clear under what law these ordinances were issued,” the IBP stressed. The IBP also pointed out that even the Department of Labor and Employment (DOLE) came out with an advisory that employees cannot be compelled to be vaccinated against

Covid-19. It noted that the most an employer can do is to require its employees to present a negative RT-PCR test every two weeks, at the employees’ expense. “Thus, the IBP is at a loss as to the legal basis for threatening unvaccinated individuals with arrest,” it said.

Unfair, unreasonable

THE IBP described the two policies as “unfair” and “unreasonable” considering that more or less 54 million Filipinos have only been vaccinated against COVID-19, which leaves “about half of the Philippine population unvaccinated. It added that there are not enough vaccines to inoculate the remaining unvaccinated citizens and an overwhelming majority of individuals who are aged 17 years or younger have not yet been vaccinated. Likewise, the IBP said an overwhelming majority of individuals, aged 17 years old and younger, have also not yet been vaccinated. It also lamented that there was no sufficient data at the level of the LGUs or barangays on the number and identities of those who have received vaccinations or those who have not yet been vaccinated. “We therefore urge the government both national and local to take a second hard look at these policies in order to uphold the rule of law which the IBP is duty bound to support,” the IBP said.

A4 Monday, January 24, 2022 • Editor: Vittorio V. Vitug

Economy BusinessMirror

www.businessmirror.com.ph

Poorest elderly should get more pension–PIDS

By Cai U. Ordinario

@caiordinario

HE poorest senior citizens should receive more under the country’s monthly social pension for the elderly in order to lift them up from poverty, according to the Philippine Institute for Development Studies (PIDS). In a Policy Note, PIDS consultant and associate professor at the Pamantasan ng Lungsod ng Maynila Jennifer D. Monje said the poorest lolo or lola should get P1,000worth monthly pensions from the government from the current P500 a month stipend. Monje said these recommendations were based on a study made by PIDS Senior Research Fellow Jose Ramon G. Albert. She added this is just one of several proposed changes to improve the social pension for senior citizens nationwide. “Providing the indigent elderly with a monthly allowance is a good response to improving the plight of seniors among the poor and vulnerable. Thus, this program is viewed positively by program implementers and senior citizens alike,” Monje said. “However, the program is not without issues and challenges. Some strategic policy actions are urgently needed to address implementation deficits,” she added. Monje said Albert’s recommendation proposed that the monthly assistance of P500 could be given to those low-income but not poor elderly or those with incomes between the poverty line and twice the poverty line. Albert also proposed a social pension of P750 a month to be given to

poor but not subsistence poor seniors or those with incomes between the subsistence poverty threshold and the poverty line. The elderly who are among the subsistence poor should receive the largest social pension of P1,000 a month. Subsistence incidence in poverty is the proportion of the population who could not provide for their basic food needs. “Senior citizens expressed their gratitude for the program. While they admit that P500 per month is inadequate for food and medicines, they note that it is better than nothing—‘mabuti na kaysa sa wala.’ They also look forward to pending legislation seeking to double the pensions,” Monje said. Apart from the amount of the social pension, Monje said the government should also address the distribution of the cash assistance to the elderly. She said it is important to tap other banks, including private banks to provide the funds to seniors. For seniors who have access to technology and who live near city centers, it is an option to provide their pension through e-payments and e-wallets while those who do not have access to technology and living in remote areas should receive their pensions through a door-todoor system. Data showed that under the cur-

rent system, it takes the government 175 days to disburse the funds and conduct the entire program implementation. This is equivalent to 8-months’ work for what should be done in six months. Apart from this, Monje said there is a need to standardize and streamline the application process for the social pension to three steps: submission of application forms and other relevant documents; interviewing potential pensioners and independently determining the veracity of submitted data; and, providing feedback to applicants. More often than not, Monje said, the last step is skipped by the government. Part of this reason is that there is not enough manpower to handle the social pension for the elderly. Seniors, who are already part of the social pension program, said the applications and payouts are facilitated by daycare workers who also double as Department of Social Welfare and Development (DSWD) special disbursing officers (SDOs). Meanwhile, based on the average budget allocation and disbursement and average number of indigent elderly served based on age requirement, a total of 2.96 million seniors aged 60 years old and older received pensions between 2016 and 2020. They received a total of P16.06 billion during this time. This is 87.82 percent of the total average budget allocation worth P18.29 billion for the social pension during the period. The budget for the Social Pension for Indigent Senior Citizens (SPISC) program was given a budget of P23 billion for fiscal year 2021, given to a total of 3.7 million beneficiaries receiving noncontributory old-age pensions from the government. In 2021, Monje said, the total SocPen beneficiaries account for nearly half or 46.2 percent of the senior citizen population.

Law eyed to protect delivery riders vs abusive customers By Butch Fernandez @butchfBM

AKING up the cudgels for increasing number of delivery riders victimized by abusive customers, Senator Sherwin Gatchalian is asking Congress to frontload passage of remedial legislation to protect them. “If we want to protect delivery riders from fake bookings and hoax orders, we should also protect them from abusive customers,” Gatchalian said over the weekend, citing a video that went viral over the Internet showing “a food delivery rider who was assaulted by a customer for having no spare change.” This, as the Senators’ version of the bill was already approved on third and final reading embodied in Senate Bill 2302 to be known as the “Food, Grocery and Pharmacy Delivery Services Protection Act” once passed into law, penalizing those who “carry out deceit against delivery riders or those who don’t treat

them accordingly by placing hoax orders online or refuse to receive an unpaid confirmed order.” As co-author of SB 2302, Gatchalian voiced concerns over a video showing a customer attempting to attack a food delivery rider for not having enough change for his P1,000 bill, deploring any kind of abuse against a fellowman over a misunderstanding is unacceptable. “Hindi dahil customer ay palagi nang tama. Walang dahilan upang pagmalabisan ang mga delivery rider na naghahanap buhay ng marangal,” he added. [Not because they’re customers, they are always right. There is no reason to abuse delivery riders who are seeking to earn with dignity.] Gatchalian pointed out that protecting delivery carriers is stipulated in the committee report on the proposed Internet Transactions Act; Section 13 (c) states “it will be unlawful for consumers to unreasonably shame, demean, embarrass or humiliate online delivery partners.”

He warns that “any person who violates this provision shall be punished with arresto mayor or a fine exceeding P100,000 without prejudice to any other available remedies under existing laws.” The senator added that once passed into law, the delivery riders will be provided adequate protection against abusive customers ”Sakaling maging ganap na batas na itong mga panukalang ito, mabibigyan na ng sapat na proteksyon ang mga delivery riders laban sa mga customer na mapangabuso, mapanghamak, at nanghihiya ng wala sa lugar,” he said. [Should this be enacted into law, delivery riders will be given adequate protection against customers who are abusive, contemptuous, and humiliating.] At the same time, Gatchalian affirmed the lawmakers “instituted ample protection to the rights of both the consumers as well as those engaged in online selling and delivery personnel in both bills.”

DOLE: ’21 site inspection benefited 4M employees By Samuel P. Medenilla @sam_medenilla

ROUND 4 million workers benefited from the workplace inspection of the Department of Labor and Employment (DOLE) last year. In a statement issued last Sunday, Labor and Employment Secretary Silvestre H. Bello III disclosed these were the employees of 90,327 establishments subjected to inspections. According to Bello, more than 600 DOLE personnel inspected these companies for compliance to general labor standards (GLS) and occupational safety and health standards (OSHS). GLS includes the employer’s

implementation of 13th month pay, overtime and holiday pay while OSHS covers a company’s anti-Covid measures. Labor Assistant Secretary Ma. Teresita S. Cucueco earlier reported that OSHS compliance last year improved to 70 percent compared to 50 percent to 60 percent the year before as more companies became aware of the provisions of the Republic Act 11058 or the OSH Law of 2018. Last Wednesday, the DOLE finally started its regular workplace inspections this year with Bello’s issuance of Administrative Order (AO) 11, Series of 2022. To note, DOLE regularly suspends such inspections every De-

cember to allow its offices to “dispose of all pending labor standards cases and prepare the inspection program for 2022.” Under AO 11, Bello stressed that only the assigned 485 Hearing Officers mandatory conferences after the lapse of the correction period for violations of general labor standards, occupational safety and health standards and contracting or subcontracting rules. Erring companies are usually given a period to correct their GLS or OSHS deficiencies before they are sanctioned by DOLE. Bello tasked 115 regional office personnel to become “sheriffs” to implement decisions related to GLS and OSHS compliance.

Agriculture/Commodities BusinessMirror

www.businessmirror.com.ph

Editor: Jennifer A. Ng • Monday, January 24, 2022 A5

By Jasper Emmanuel Y. Arcalas @jearcalas

HE average farm-gate price of broiler dropped to a fourweek low of P79 per kilogram (kg), as supply continued to outpace demand, the latest industry report showed. United Broiler Raisers Association’s (Ubra) weekly price survey showed that the average prices of off-sized, regular-sized and primesized broiler declined further. The price survey showed that the average farm-gate price of regular-sized broiler as of January 21 dropped to P79 per kg from the previous week’s P82.50 per kg. Also, the average farm-gate prices of off-sized broiler and prime-sized broiler fell to P79.50 per kg and P78.5 per kilogram, respectively. The average farm-gate price of offsized broiler last January 14 was at P82 per kg while prime-sized broiler

averaged P82.88 per kg. The lowest farm-gate price during the reference period was recorded in Batangas at P75 per kg for off-sized broiler while the highest farm-gate price was reported in Tarlac at P84 per kg. Ubra President Elias Jose Inciong told the BusinessMirror last week that demand for chicken meat has become “really low” and that inventories are “not moving” due to stricter mobility restrictions as key cities in the country were placed under a higher alert level due to spike in Covid-19 cases. “Demand is really low today and inventories are not moving that much. Plus, there is still little to no demand from hotels, restaurants, and institutions,” he said. “There was demand for chicken before Christmas, but now it is gone due to the Omicron variant. Historically, demand is soft at the start of the year but it is currently lower than usual.”

BUSINESSMIRROR FILE PHOTO

Farm-gate price of broiler dips to 4-week low

Price monitoring reports by the Department of Agriculture showed that the retail prices of whole chicken in Metro Manila last week remained

stable, ranging from P125 per kg to P170 per kg. The latest frozen inventory report by the National Meat Inspection Ser-

vice (NMIS) showed that there was a slight decline in the country’s dressed chicken inventory as of January 17. The NMIS report showed that in-

Pork prices remain stable in Metro Manila–report

ORK prices in Metro Manila remained unchanged for the third straight week, according to a report by the Department of Agriculture (DA). The DA’s price monitoring report showed that the average price of pork kasim as of January 21 was still at P340 per kg. DA reports also showed that the average price of pork liempo has remained virtually unchanged throughout the month at P380 per kg. However, prices of pork this month are higher by as much as P20 per kg from last month’s average prices. DA reports showed that the average price of pork kasim last month ranged from P320 to P330 per kg while pork liempo was sold for P360 to P370 per kg.

The latest DA price monitoring report showed that the price of fresh pork kasim as of January 21 in Metro Manila wet markets ranged from P280 per kg to P370 per kg, while fresh pork liempo ranged from P330 per kg to P400 per kg. The DA price report also showed that frozen pork kasim prices ranged from P210 per kg to P240 per kg while frozen pork liempo was sold for P240 per kg to P280 per kg. In a recent statement, the DA announced that the country will have enough pork supply this year due to the improvement in domestic output, which will be augmented by imports. The DA said it remains optimistic that the local hog industry will “gain momentum” in terms of repopulation and recovery this year from the devastation caused by African swine fever (ASF).

It disclosed that the country’s active ASF cases as of January 13 were recorded in 45 barangays in 17 municipalities in Regions 2, 4A, 4B, 8, 11 and Caraga. “To date, measures to prevent further damage from the transboundary animal disease are continuously being carried out from the national down to the local level, particularly in barangays and small communities,” it said. The DA said 553 cities and municipalities nationwide have been ASFfree for three months with another 88 cities and municipalities reporting zero cases of the fatal hog disease in the past three to six months. It added that 435 cities and municipalities are also free from ASF for at least six months while 36 municipalities have been released from quarantine.

The DA said it continues to implement its twin recovery programs to address the impact of ASF to the hog industry: Bantay ASF sa Barangay program and Integrated National Swine Production Initiatives for Recovery and Expansion. “BaBay ASF extends technical assistance including disease monitoring, surveillance, and control. The initiative calls for stricter surveillance and monitoring efforts, which include setting up biosecurity measures for commercial and backyard piggeries,” it said. The BusinessMirror reported last month that the country’s pig population is showing signs of recovery from the devastation of ASF as it expanded for the second consecutive quarter and reached 9.866 million heads on October 1. Data released by the Philippine

Statistics Authority (PSA) indicated that the pig population at the start of the fourth quarter rose by 2.3 percent from the 9.644 million heads recorded on July 1. Historical PSA data showed that this is the second consecutive quarter that the country’s pig herd went up after it hit an all time low on April 1, when it fell to 9.56 million heads. PSA data showed that repopulation among backyard hog raisers outpaced that of commercial pig farms. Total swine population in backyard farms as of October 1 rose by 3.5 percent to 7.117 million heads from 6.876 million recorded in July. Commercial pig farm population, meanwhile, declined slightly to 2.749 million heads from 2.767 million heads in July, based on the latest PSA data. Jasper Emmanuel Y. Arcalas

High food prices dash India’s hopes to curb cooking oil imports RE, gas, BESS top power firms’ agenda amid crunch

NDIANS will probably buy expensive cooking oils from overseas for at least another 15 years, as demand continues to far outpace domestic production. Consumption is expected to climb in India by as much as 17 percent over the next four years, according to B.V. Mehta, executive director of the Solvent Extractors’ Association. A rise that steep would further widen the manufacturing gap: India will likely produce about 10 million tons of edible oils in 2021-22, compared with local consumption of as much as 23 million tons. India, one of the world’s largest buyers of vegetable oils, has struggled to wean itself off imports. Farmers have typically focused on growing cotton and staples like rice, wheat and sugar, partly because the government sets price floors for these crops and buys some of them—such as food grains—in bulk for its welfare programs. A shift in mindset is not likely overnight. High-yielding rapeseed and sunflower varieties and remunerative prices could boost the nation’s output. But incentives for India’s farmers to grow oilseeds are still weak, according to Siraj Chaudhry, managing director and chief executive officer of National Commodities Management Services Ltd., a warehousing and trading company. Change has to start locally, he said, with a close watch on the crop cycle. Rice farmers should be encouraged to grow sunflower during India’s rainy months, for instance, and wheat producers to cultivate rapeseed in the winter. Higher production of rice bran oil and expensive peanuts could also serve as supplements, he said. Palm oil, in particular, has po-

continued from a10

A WOMAN lights a stove connected to an Indian Oil Corp. Indane brand liquefied petroleum gas cylinder at a village home in Greater Noida, Uttar Pradesh, India, on February 22, 2021. T. NARAYAN/BLOOMBERG

tential to close the production gap. Indians often prefer it over soft oils because it’s cheaper and can be blended easily with other fats. It also lasts longer than other choices, making it cost-efficient for bulk users such as restaurants and hotels. Moving part of the supply chain locally may help. Commodities experts have lobbied the Indian government to import soybeans and crush them domestically, rather than simply purchase soybean oil. That would potentially boost soy oil supplies at home and meet rising demand for feed from the poultry industry. “It has to be a combination of factors, including providing new technology to boost productiv-

ity,” Chaudhry said.

The problem of cost

COOKING oils are an integral part of the Indian diet. They play a starring role in feasts served during the country’s massive festivals. They’re used to fry jalebis, the sticky, road-side sweet, and for practically every other staple dish. Their ubiquity has made India the world’s biggest importer of palm, soybean and sunflower oil. Increasing domestic palm oil production would augment the overall supply of vegetable oil in the country, according to Mehta. India aims to produce 1 million tons by 2026 and further boost output to 2.8 million tons by 2030, up from 300,000 tons, he said.

But price control is increasingly a wrinkle. India’s attempts to ease inflation by cutting duties on edible oil imports and imposing limits on inventories have so far failed to lower costs. Most of the commodities are linked to global prices that have rallied in the past year due to a supply crunch and rising biofuel use. India’s consumer food prices rose in December at their fastest pace in six months amid soaring costs for vegetable oils, which jumped more than 24 percent from a year earlier, according to the statistics ministry. The increase comes despite a reduction in edible oil import taxes, which have further boosted world prices on expectations of higher purchases from India. Bloomberg News

They said enabling laws are already in place, but the industry still awaits the execution of critical market mechanisms such as the renewable energy market, reserve market, and lower RCOA threshold. Francia said implementing these mechanisms would spur much needed investments. “We also need to accelerate the upgrade and expansion of transmission network to enable additional generation capacity. It is also critical to complete the Mindanao-Visayas interconnection so that the excess capacity in Mindanao can help the tightening supply in Luzon and Visayas,” he added. Philippine Energy Efficiency Alliance Inc. (PE2) agreed that there should be more fiscal policies to aide investment decisions and more policy issuances to make the Energy Efficiency and Conservation Act (EE&C) fully enforceable. “This is made evident by DOE’s momentum to finalize six draft department circulars through first quarter of 2022. What remains critical now is the BOI [Board of Investments] and FIRB’s [Fiscal Incentives Review Board] willingness to quickly re-classify energy efficiency projects as Tier III industry activities under the CREATE-SIPP incentive framework and reduce the overregulation of projects, which may serve to constrict rather than attract local and foreign investments into this new clean energy asset class called energy efficiency,” said PE2 President Alexander Ablaza.

ventory of dressed chicken during the reference period declined to 27,929.91 metric tons (MT) from 28,377.17 MT recorded last January 10. In November, the Philippine Statistics Authority (PSA) reported that the production of the livestock, poultry, and fisheries subsectors declined in January to September. Livestock output fell by nearly 20 percent according to PSA data. Poultry production fell by 1.3 percent while fisheries output dipped by 0.5 percent year-on-year. The country’s farm output in January to September contracted by 2.5 percent—the steepest decline in 11 years—as livestock and poultry production woes hounded overall agricultural performance, negating gains in the crops sector. During the nine-month period, the valueofagriculturalproduction,atconstant 2018 prices, declined to P1.263 billion from P1.295 billion recorded a year ago, according to the PSA.

Cargill unveils basemix plant in Mindanao

ARGILL has opened its first basemix plant in Mindanao in an effort to deliver consistently high-quality, nutritious and safe animal nutrition solutions composed of micro-ingredients— such as vitamins and minerals— meant to improve the health, immunity and growability of hogs and chickens. This, in turn, stimulates Mindanao’s animal-farming sector and strengthens the local feed and protein supply chains without relying on imported base mixes from other parts of the country. Joined by Mayor Jennie Rosalie Uy-Mendez and Mr. Richan Lacanaria, Head of DA Region X’s Corn Program, Cargill delegates led the inauguration of the basemix plant on November 16. The new facility is equipped with modern automated technologies with an annual capacity of 30,000 metric tons. It was built beside the Cargill Animal Nutrition and Health’s compound feed production facility in Villanueva in the province of Misamis Oriental, which produces swine and poultry products for the region. “Working closely with our customers and local communities, Cargill in the Philippines continues to identify and unlock opportunities to optimize our market footprint and realize our purpose to nourish the world in a safe, responsible and sustainable way,” said Sonny Catacutan, President of Cargill Philippines and Managing Director of Cargill Animal Nutrition and Health. “We are proud and excited to unveil our new basemix plant in Mindanao, a strategic decision that allows us to better serve our customers across the region with our latest animal nutrition offerings and solutions. Situated in the nation’s food basket, Cargill’s new basemix plant reflects our confidence in and commitment to the southern island.” As a leading animal nutrition and health supplier, Cargill provides customers with swine, poultry and aqua feed, along with premix solutions, to livestock farmers and feed millers in the Philippines. The new basemix plant is an additional capability that generates dozens of direct and indirect employment opportunities for local residents. Mindanao remains to be the country’s food basket due to its rich soil and conducive farming climate. Besides being a major production hub for agricultural crops, the island also plays a crucial role in serving the growing animal protein requirements of the nation.

Monday, January 24, 2022

The World BusinessMirror

Omicron nears US peak as some regions struggle

he Omicron variant is starting to loosen its grip on the US Northeast, but experts warn that it will take more time for the latest wave of Covid-19 to recede nationwide. The strain’s fast surge and swift descent in one of the most populous parts of the US echoes its trajectory in areas of Europe and South Africa, where infections skyrocketed only to come back down nearly as quickly. That’s raised hopes that while Omicron has at times seemed like a replay of the worst days of the early pandemic, it will soon ebb. However, the shape of the Omicron wave may look different in various parts of the US, depending on vaccination rates and hospital capacity in those areas. While Omicron has been milder than other variants, it has strained health-care providers across the country, and infections in children have been higher this time around. Nationa l ly, the Omicron wave could peak as early as this week, according to projections from the Institute of Health Metrics and Evaluation at the

University of Washington. Still, states where Omicron’s spread came later will see a delayed peak, forecasters say. “Omicron is coming down as fast as it went up,” said Ali Mokdad, a professor at IHME and chief strategy officer for population health at the University of Washington. “We are going to go through a couple more weeks that are very difficult on our hospitals, but come midFebruary, March, we should be in a very good position.” But low US vaccination rates in certain regions have made some experts worry that the country might not bounce back quite so quickly from Omicron. About 80% of Americans age five and older have had at least one dose of the vaccine, according to the Centers for Disease Control and Prevention. But some states—including Idaho, Wyoming and Louisiana—are struggling to get above 60%.

“Data from other countries are really a canary in the coal mine for us, but really our data are very unique to the states,” said University of Alabama epidemiologist Bertha Hidalgo. “We are guided more by what we see within the US than what we see outside.”

wrongly predicted the beginning of the end of the pandemic before. Omicron was discovered only two months ago, making it impossible to precisely pinpoint the trajectory of the virus over the coming weeks and months.

Watching Alabama

What experts do agree on is that Covid-19, in some form or another, is here to stay. “Covid-19 as a pandemic, in the institute’s opinion, is over,” said Mokdad of the IHME. “But Covid-19 as a virus will be around for a long time.” He said that antiviral pills from Merck & Co. and Pfizer, Inc., along with vaccines and booster shots, will be essential tools in helping prevent future surges. Studies have also repeatedly shown that wearing good, well-fitting masks indoors can go far toward slowing the spread. Wafaa El-Sadr, director of ICAP Global Health at Columbia University and the leader of the New York City Pandemic Response Institute, said that Omicron’s rapid transmission rate helped it to quickly “saturate” the population, infecting anyone vulnerable to infection. El-Sadr said the combination of immunity based on prior infection and vaccination against the virus provides a level of protection—less people are susceptible to getting sick. Cases and hospitalizations may decrease quickly in the coming weeks, she said, but it’s important to start thinking about how to live with the virus long-term. “The time is right now to try to change the narrative,” ElSadr said. “How can we adjust our lives in the context of Covid rather than continuing to have an enormous fear of it?” Bloomberg News

In A labama, just 60% of the state’s eligible population has had at least one dose of the vaccine, and the state hasn’t reinstated Covid mitigation measures in the wake of Omicron. Over the past two weeks, the state has continued to see an increase in cases, leading Hidalgo to worry that Alabama may not see the same rapid dow ntur n. T he coming weeks will determine whether or not the state’s viral curve follows the same path as Northeastern states like New York, which identified its first case 14 days before Alabama did. New York, which has already seen a drop in cases and hospitalizations, has one of the highest vaccination rates of US states. In New York City, public officials have also been stringent about promoting mask-wearing, while enforcing vaccine mandates for indoor restaurants and entertainment venues. Even as infections recede, the effects of Omicron will continue to be felt as some of the sickest patients succumb to the disease. The CDC ’s most recent forecast from Jan. 17, which ta kes into account the IHME model and many others, stil l predicts that Cov id-19 deaths w il l continue to r ise over the next four weeks. Hesitancy toward premature optimism is valid: This month, the US reached 850,000 Covidrelated deaths, more than any other nation. And experts have

Sticking around

Editor: Angel R. Calso

New Zealand adds Covid curbs as Omicron spreads

ELLINGTON, New Zealand—New Zealanders are set to face new Covid-19 restrictions after nine cases of the Omicron variant were detected in a single family that flew to Auckland for a wedding earlier this month, Prime Minister Jacinda Ardern announced Sunday. The so-called “red setting” of the country’s pandemic response includes heightened measures such as required mask wearing and limits on gatherings, and the restrictions will go into effect on Monday. Ardern stressed that “red is not lockdown,” noting that businesses can remain open and people can still visit family and friends and move freely around the country. “Our plan for managing Omicron cases in the early stage remains the same as Delta, where we will rapidly test, contact trace and isolate cases and contacts in order to slow the spread,” Ardern told reporters in Wellington on Sunday. New Zealand had been among the few remaining countries to have avoided any outbreaks of the Omicron variant, but Ardern acknowledged last week that an outbreak was inevitable given the high transmissibility of the variant. The country has managed to contain the spread of the Delta variant, with an average of about 20 new cases each day. But it has seen an increasing number of peo-

ple arriving into the country and going into mandatory quarantine who are infected with Omicron. That has put strain on the quarantine system and prompted the government to limit access for returning citizens while it decides what to do about reopening its borders, angering many people who want to return to New Zealand. About 93% of New Zealanders aged 12 and over are fully vaccinated and 52% have had a booster shot. The country has just begun vaccinating children aged between 5 and 11. The family from the NelsonMarlborough region attended a wedding and other events while in Auckland, with estimates suggesting they came into contact with “well over 100 people at these events,” Ardern said. “That means that Omicron is now circulating in Auckland and possibly the Nelson-Marlborough region if not elsewhere,” she added. The move to the red setting also impacts Ardern personally. The prime minister was planning to get married next weekend, but as a result of the new restrictions the celebration will be postponed. “I just join many other New Zealanders who have had an experience like that as a result of the pandemic and to anyone who’s caught up in that scenario, I am so sorry,” she said. AP

Turkey nabs journalist for insulting Erdogan

journalist was arrested and charged with insulting President Recep Tayyip Erdogan after a ruling by Istanbul’s Criminal Court of Peace, state news agency Anadolu and Demiroren news agency reported. Sedef Kabas, 52, was detained after a prosecutor opened a probe into her comments on a television broadcast and in a Twitter post, Demiroren said. Prior to the court decision, Justice Minister Abdulhamit Gul said

in a tweet that “these unlawful statements will get what they deserved.” Insulting the president carries a prison sentence of as long as 4 years under the Turkish penal code. Tens of thousands of people have been investigated for insulting the president in recent years. Turkey imprisoned 18 journalists in 2021, out of 293 that were jailed worldwide, according to the Committee to Protect Journalists. Bloomberg News

Vaccine passport protests in Europe draw thousands

ELSINKI—Thousands of people gathered in European capitals Saturday to protest vaccine passports and other requirements governments have imposed in hopes of ending the coronavirus pandemic. Demonstrations took place in Athens, Helsinki, London, Paris and Stockholm. Marches in Paris drew hundreds of demonstrators pro testing the introduction from Monday of a new Covid-19 pass. It will severely restrict the lives of those who refuse to get vaccinated by banning them from domestic f lights, sports events, bars, cinemas and other leisure venues. French media reported that demonstrators also marched by the hundreds in other cities. In Sweden, where vaccine certificates are required to attend indoor events with more than 50 people, some 3,000 demonstrators marched though central Stockholm and assembled in a main square for a protest organized by the Frihetsrorelsen - or Freedom Movement. Swedish media reported that representatives from the neoNazi Nordic Resistance Movement attended the action with a banner. Police closely monitor the group, which has been associated with violent behavior at demonstrations. Swedish security police had warned that right-wing extrem-

Protestors gather to demonstrate against the coronavirus measures including the vaccine pass, in Stockholm, Sweden on Saturday, Jan. 22, 2022. Fredrik Persson/TT News Agency via AP

ists might take part in Saturday’s protest. No major incidents or clashes were reported by late afternoon. A similar demonstration with some 1,000 participants was held also in Goteborg, Sweden’s second-largest city. The Finnish government authorized local and regional au-

thorities just before Christmas to introduce “extensive and full measures” in response to rising virus cases involving the Omicron variant. The restrictions included limiting or prohibiting events, moving university classes online, limiting restaurant service and closing venues where people have a higher

risk of exposure. Restaurants and events are allowed to require vaccine passports. Police said some 4,000 people marched Saturday through the streets of central Helsinki to protest. A group called World Wide Demonstration organized the demonstration. No unrest or violence was reported to police. AP

The World BusinessMirror

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Monday, January 24, 2022

Britain says Russia seeks to replace Ukraine govt

ONDON —T he Br it i sh government on Saturday accused Russia of seeking to replace Ukraine’s government with a pro-Moscow administration, and said former Ukrainian lawmaker Yevheniy Murayev is being considered as a potential candidate. Murayev is head of the small pro-Russian party Nashi, which currently has no seats in Ukraine’s parliament. Britain’s Foreign Office named several other Ukrainian politicians it said had links with Russian intelligence services. It’s unclear what means Britain believes Russia might use to install a friendly government in Kyiv. The UK government made the claim based on an intelligence assessment, without providing evidence to back it up. It comes amid a war of words between Moscow and the West over Russia’s designs on Ukraine. Foreign Secretary Liz Truss said the information “shines a light on the extent of Russian activity designed to subvert Ukraine, and is

an insight into Kremlin thinking.” Truss urged Russia to “de-escalate, end its campaigns of aggression and disinformation, and pursue a path of diplomacy,” and reiterated Britain’s view that “any Russian military incursion into Ukraine would be a massive strategic mistake with severe costs.” Britain has sent anti-tank weapons to Ukraine as part of efforts to bolster its defenses against a potential Russian attack. Amid diplomatic efforts to defuse the crisis, UK Defense Secretary Ben Wallace is expected to meet Russian Defense Minister Sergei Shoigu for talks in Moscow. No timing has been given for the meeting, which would be the first UK-Russia bilateral defense talks since 2013. The US has mounted an aggressive campaign in recent months to unify its European allies against a new Russian invasion of Ukraine. The White House called the UK government assessment “deeply concerning” and said it stands with the duly elected Ukrainian government. “This kind of plotting is deeply concerning,” said National Security

Council spokeswoman Emily Horne. “The Ukrainian people have the sovereign right to determine their own future, and we stand with our democratically-elected partners in Ukraine.” The assessment came as President Joe Biden spent Saturday at the presidential retreat Camp David outside of Washington huddling with his senior national security team about the Ukraine situation. A White House official said the discussions included efforts to de-escalate the situation with diplomacy and deterrence measures being coordinated closely with allies and partners, including security assistance to Ukraine. In another development, the Baltic nations of Estonia, Latvia and Lithuania plan to send US-made anti-tank and anti-aircraft missiles to Ukraine, a move that the United States fully endorsed Saturday amid Kyiv’s escalating tensions with Russia. The defense ministers of the three Baltic states said in a joint statement that they “stand united in our commitment to Ukraine’s

sovereignty and territorial integrity in face of continued Russian aggression.” US Secretary of State Antony Blinken said in a tweet that Washington saluted the NATO nations and former Soviet republics “for their longstanding support to Ukraine.” “I expedited and authorized and we fully endorse transfers of defensive equipment @NATO Allies Estonia Latvia Lithuania are providing to Ukraine to strengthen its ability to defend itself against Russia’s unprovoked and irresponsible aggression,” Blinken said in another tweet. Kremlin spokesman Dmitry Peskov earlier this week described the West supplying arms to Ukraine as extremely dangerous and said the shipments “do nothing to reduce tensions.” Moscow has massed tens of thousands of troops near the RussiaUkraine border, leading to fears of an invasion. The West has rejected Moscow’s main demands—promises from NATO that Ukraine will never be added as a member, that no alliance weapons will be deployed near Russian borders, and that it will

Turkey sees inflation rate peaking at 40% in 2022

urkish Finance Minister Nureddin Nebati told economists he expects the inf lation rate to peak at about 40% in the months ahead and not to surpass 50% this year, according to people who attended. Nebati provided his most detailed outlook yet for consumer

prices in 2022 during a meeting with 60 economists and analysts on Saturday in Istanbul, according to the people, who asked not to be identified because the event wasn’t public. The minister said the inf lation rate may not fall below 30% until the end of the year, one of the people said. The Turk-

ish Finance Ministry declined to comment. Turkey’s inflation rate hit 36.1% in December, the highest since the beginning of President Recep Tayyip Erdogan’s 19-year rule. Inf lation expectations for the next 12 months jumped to 25.37% from 21.39%, according to the central

bank ’s January survey of market participants. Some Wall Street banks predict last year’s currency crisis could push inf lation beyond 50%. The jump in prices was fueled by Turkey’s central bank cutting its benchmark rate by 500 basis points in four consecutive meet-

pull back its forces from Central and Eastern Europe. A meeting Friday between Blinken and Russian Foreign Minister Sergey Lavrov ended with no breakthrough. Amid the uncertain security situation, the US State Department has been considering a range of options to ensure the safety and security of the US Embassy in Kyiv and its employees by moving to reduce its diplomatic presence there. The defense ministers of the Baltic states said in their statement that Estonia would provide Javelin anti-tank weapons while Latvia and Lithuania were sending Stinger antiaircraft missiles and other related equipment to bolster Kyiv’s defensive military capabilities. It wasn’t immediately clear when the weapons and equipment would be sent to Ukraine. “Today, Ukraine is at the forefront of separating Europe from the military conflict with Russia. Let´s face it, the war in Ukraine is ongoing and it is important to support Ukraine in every way we can so that they can resist the aggressor,” Estonian Defense Minister Kalle

Laanet said. Estonia also is seeking Germany’s approval to send Soviet-made howitzers, which once belonged to East Germany, to Ukraine. Estonia acquired the howitzers from nonNATO member Finland, which in turn had bought them from Germany’s military surplus supply in the 1990s. The German government said Friday that it was considering Estonia’s request to pass the howitzers on to Ukraine but gave no timeline for a decision. Berlin said it planned to coordinate the issue with Finland, which has received a similar approval request from Estonia. Berlin routinely demands a say when German-sold weapons are transferred to third countries. But some recent media reports suggested German Chancellor Olaf Scholz’s Cabinet could block Estonia’s transfer of weapons to Kyiv, highlighting divisions in the West’s response to the Ukraine crisis. U k ra inian Foreig n Minister Dmytro Kuleba alleged Saturday that Germany was not showing adequate support for Ukraine. AP

ings, before announcing a pause to its easing cycle on Thursday. The aggressive easing was demanded by Erdogan, who argued that lower rates would contain consumer prices and boost growth. The lira’s depreciation and rising global energy prices were the biggest drivers of inf lation. The Turkish currency lost as much as half its value in three months before stabilizing after the government introduced emergency

measures in December, including a program to compensate lira holders for major currency declines. Turkey’s central bank has also pledged incentives for companies that convert foreign-currency and gold-deposit accounts into time deposits in Turkish lira. Nebati expects the measures could result in $10 billion in corporate assets being converted to lira, helping to support the currency, the people said. Bloomberg News

Monday, January 24, 2022 • Editor: Angel R. Calso

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editorial

Beware of the destroyers

umans admire success—winning—but perhaps equally as much, we respect and honor the person who succeeds by running the race but not winning. We teach winning to our children, but we also show them respect for participation because playing the game also requires discipline and effort.

We often criticize the parent, teacher, or coach who puts too much emphasis on winning and not enough on partaking. There is nothing wrong about receiving a “Participation Trophy” as long as participation required some sacrifice. Not everyone can come in First but everyone can do his or her best to reach for that Winner Trophy. The original Olympic motto was first expressed by the Dominican priest Henri Didon in the opening ceremony of a school sports event in 1881 as “Faster, Higher, Stronger” in Latin. The new motto now reads “Citius, Altius, Fortius—Communiter.” “Faster, Higher, Stronger—Together” in English. We want to build higher, go faster, and live in a stronger, more enduring world. Where would humanity be without this hard-wired ambition for both individual and collective accomplishment? Mud huts and banana leaf loincloths? Jeffrey A. Tucker is founder and president of the Brownstone Institute and speaks widely on topics of economics, technology, social philosophy, and culture. He wrote the following as part of a review of the movie The Joker. “The trouble begins with personal life failures. While this man is troubled, you sometimes think that perhaps he is not so far gone as to be irredeemable. He might function well. He can get through this, just like everyone else deals with their own demons. “Yet there are life circumstances that keep driving him more and more to the point that he loses love for life as it is. And then he does evil and discovers something that empowers him: his conscience does not provide a corrective. On the contrary, the evil he does makes him feel empowered and valued.” Tucker continued, “His life was not working; he found something that worked for him finally: Destructionism. That ideology says that the sole purpose of action should be to tear down what others have created. This ideology becomes necessary because doing good seems impossible, one still needs to make some difference in the world to feel that your life has some direction, and because doing evil is easy.” “Destructionism” discussed by Austrian economist Ludwig Von Mises in his 1922 book Socialism, refers to policies that consume capital but do not accumulate it. Accumulation of capital is the basis for economic progress because as the value of an economy increases, labor productivity as well as standards of living increases. The CPP-NPA rebellion is the world’s longest ongoing communist insurgency and no doubt some of its grievances are justified. It’s mandate is to “establish a people’s democratic republic and a democratic coalition government,” which the people have never welcomed. It is therefore unachievable. “The NPA, as the central agent of armed struggle, serves to achieve its central task of destroying and dismantling the rule of the enemy and taking their political power.” September 2005: “NPA bombs 11th Globe cell site.” The CPP-NPA cannot overthrow the government, but they can make Smart and Globe pay P200 million. “Destructionism becomes a psychology of wreckage imparted by an ideology that is a failure by necessity of theory and practice.” Some people discover satisfaction in destruction because it makes them feel alive and gives their life meaning.

Remembering Cory’s creative and generous spirit Atty. Jose Ferdinand M. Rojas II

RISING SUN

recently came across an article online that discusses the physical and mental health benefits of painting. It is apparently an extremely effective therapeutic and calming technique that can improve concentration, sharpen one’s fine motor skills, boost creativity, develop a positive mindset, improve one’s critical thinking skills, confidence, non-verbal communication skills, and perseverance, among other benefits. It makes me remember former President Cory Aquino’s pre-occupation with painting, something that she took up after her presidency ended in 1992. President Cory started painting around 1996, taking lessons from a young teacher for three hours every Wednesday for a period of three years. She finished a painting in three hours during her first day of lessons, which encouraged her greatly. She used to give away her paint-

ings as gifts to statesmen, her foundation’s donors, her inaanak sa kasal, and so on. I myself was a beneficiary of her beautiful paintings, once during my birthday, and then she gave us another one when my wife and I got married. It’s wonderful to remember the former president’s creativity and generous spirit on her birth anniversary. She was born on January 25, 1933. So let us say a prayer for her on this day, and remember her for her sacrifices, hard work, and contribu-

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tions to the country and our people. When she was still alive, she had said that she “would like to be remembered for having helped in the restoration of our democracy.” She also said in the same interview that she would like the young people, who didn’t know what it was like living under Martial Law, to have an idea or a sense of what it was like in the Philippines before, whenever they

Fixing conflict in government

Since 2005

✝ Ambassador Antonio L. Cabangon Chua

She used to give away her paintings as gifts to statesmen, her foundation’s donors, her inaanak sa kasal, and so on. I myself was a beneficiary of her beautiful paintings, once during my birthday, and then she gave us another one when my wife and I got married. It’s wonderful to remember the former president’s creativity and generous spirit on her birth anniversary. She was born on January 25, 1933. So let us say a prayer for her on this day, and remember her for her sacrifices, hard work, and contributions to the country and our people.

Thomas M. Orbos

STREET TALK

wo transport-related items caught my attention last week that would show how government functions in the real, and not ideal, world. Both of these items, one local and one overseas (though this will surely land on our shores), emanate from government policies that capture intertwined interests from two separate government agencies and how, in the end, they could be resolved. Secretary Silvestre H. Bello III apologizing for the No Vaccine, No Ride Program: We heard the many discussions on this program by the Department of Transportation with both those who are for it and those who oppose it as evenly distributed. But one voice among the many caught my attention and this comes from a non-transport personality, Secretary Bebot Bello of the Department of Labor and Employment. Secretary Bello took the cudgels for his department’s constituency as he apologized for the transport difficulties that workers faced because of DOTr’s controversial program. And I must say, it takes a real man to own a mistake. And more so, a real public servant to apologize publicly to his publics when need be. Rarely do we see this happen. Specifically, Secretary Bello cited the lack of information on the exemption of workers from the program. Workers

make up the most of those who commute via public transport and also have difficulties getting vaccinated because of accessibility and mobility concerns. 5G and the Aviation Industry: What happens when a tech innovation that is supposed to benefit a particular industry poses a danger to another? Such is the case with 5G technology, the next generation wireless communications standard that assures faster Internet service, better and more secure mobile communications to its users and is now the focus of investments of telecoms companies worldwide, including here in the Philippines. This is nothing like the supposed interference of mobile phones in-flight. Major global airlines are warning about the dangers that 5G poses, specifically to planes on their runway descent, thereby putting in harm’s way the

Government agencies with different and sometimes contrasting interests will always be there. The problems stem from their intent, in so far as their concerned sector is concerned, to protect the interests of the greater majority of their constituencies. Inter-agency discussions to resolve such issues are standard procedures in government, but honestly, do they function proactively? passengers on such flights. The reason for this is that 5G share the same frequency spectrum (3.7 to 4.2 GHZ) used by an airplane’s altimeter, the instrument that guides a plane on its path to an airport’s runway and tells how close the airplane is to the ground. This alone makes the prospect of frequency spectrum sharing a grave concern. In the United States, federal aviation regulators are in discussions with their telecommunications counterparts to resolve this issue as global airlines are bent on reviewing their flights to the US. Key concerns are the telecoms towers near airports and what distance is safe so as not to adversely affect planes that are landing. US telecoms companies such as AT&T and Verizon, however, cite that there had been no major incidents related to this shared spectrum and that more than 40 other countries have deployed 5G near their airports

see other countries that are not yet enjoying freedom. “…Anybody would just be arrested without any charges, put into prison and some would be tortured, and some were never seen again,” Cory said. It is, indeed, very important that we don’t just appreciate our democracy and freedom, but that we also guard it with all our might so that the sacrifices of people like Cory, along with the Filipinos who bravely fought for our freedom in years past, will not be for naught. Cory’s message for the Filipino youth: “What I would like from you is that you would try your best to find out what it is that our country needs of you. All of us will have different things to do, but each one of us can do something to [improve] life in our country.” These words come from a transcript of a 2003 interview with former President Cory Aquino, done by Michael Chua, Henderson Gercio, Bryan Hernandez, and Emmalyn Sagum for Pipol Magazine. May the timeless message ring true once more in our hearts as we remember our dear Tita Cory on her birthday.

without any incident. Which leads us to our situation here in our country where 5G service had been offered much earlier by our telecoms companies than in the United States. In almost all major airports nationwide you will see telecoms towers built nearby and definitely mobile communication traffic at the airports is heavier than in most places in the metropolis. It may be true that the 5G technology used here is older and slower, but it will still be more prudent if an oversight review will be jointly done by the Civil Aviation Authority of the Philippines and the National Telecommunications Commission. Better to be overly cautious at this point. Government agencies with different and sometimes contrasting interests will always be there. The problems stem from their intent, in so far as their concerned sector is concerned, to protect the interests of the greater majority of their constituencies. Inter-agency discussions to resolve such issues are standard procedures in government, but honestly, do they function pro-actively? In the end, some issues result in costly mistakes that could have been avoided had such talks been pursued more seriously. Key takeaways from these two items I cited: Resolve issues before anything bad happens; and if it does happen, apologize and fix the problem. The author may be reached at: thomas_orbos@ sloan.mit.edu

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In Kashmir, India batters press freedom–and journalists

‘Better than B.S.’

By Aijaz Hussain & Sheikh Saaliq | Associated Press

RINAGAR, India—For five years, Sajad Gul wrote about conflict wracking his homeland, a disputed Himalayan territory where a violent armed rebellion and India’s brutal counterinsurgency have raged for over three decades. That changed on a snowy Wednesday night in January with a knock at his house. Gul was surrounded by Indian soldiers wielding automatic rifles who bundled him into a vehicle and sped away, plowing through the snow-laden track in Hajin, a quiet village about 20 miles from Srinagar, the region’s main city, said his mother, Gulshana, who only uses one name. Journalists have long contended with various threats in Indian-controlled Kashmir and found themselves caught between warring sides. But their situation has gotten dramatically worse since India revoked the region’s semi-autonomy in 2019, throwing Kashmir under a severe security and communication lockdown and the media in a black hole. A year later, the government’s new media policy sought to control the press more effectively to censure independent reporting. Dozens have been arrested, interrogated and investigated under harsh anti-terror laws. Fearing reprisals, local press has largely wilted under pressure. “Indian authorities appear determined to prevent journalists from doing their jobs,” said Steven Butler, Asia program coordinator of the New Yorkbased Committee to Protect Journalists. Gul’s arrest, which the CPJ condemned, underscored the fast-eroding press freedoms and criminalization of journalists in Kashmir. Police told Gul’s family that he was arrested for provoking people to “resort to violence and disturb public peace.” A police statement later described him as “habitual of spreading disinformation” and “false narratives” on social media. He was detained days after his single tweet linked a video clip of a protest against Indian rule, following a Kashmiri rebel’s killing. He spent 11 days locked up before a local court granted him bail. Instead of freeing Gul, authorities charged him in a new case under the Public Safety Act, which allows officials to imprison anyone for up to two years without trial. “My son is not a criminal,” said Gulshana. “He only used to write.” Media has always been tightly controlled in India’s part of Muslimmajority Kashmir. Arm twisting and fear have been extensively used to intimidate the press since 1989, when rebels began fighting Indian soldiers in a bid to establish an independent Kashmir or union with Pakistan. Pakistan controls Kashmir’s other part and the two counties fiercely claim the territory in full. The fighting has left tens of thousands of people dead. Yet, Kashmir’s diverse media flourished despite relentless pressure from Indian authorities and rebel groups. That changed in 2019, when authorities began filing criminal cases against some journalists. Several of them have been forced to reveal their sources, while others have been physically assaulted. “Authorities have created a systematic fear and launched a direct assault on free media. There is complete intolerance of even a single critical word,” said Anuradha Bhasin, an editor at Kashmir Times, a prominent English daily that was established in 1954. Bhasin was among the few who filed a petition with India’s Supreme Court, resulting in partial restoration of communication services after the 2019 blackout, which the government had said was necessary to stall antiIndia protests. But she soon found herself in the crosshairs of Prime Minister Narendra Modi’s government. Bhasin’s legacy newspaper office in Srinagar, operating from a rented government building, was sealed by authorities without any notice. Its staff was not allowed to take out

any equipment. “They are killing local media except those who are willing to become government stenographers,” said Bhasin. Under Modi, press freedoms in India have steadily shrunk since he was first elected in 2014. Last year, India was ranked 142nd in the global press freedom index by media watchdog Reporters Without Borders, below Afghanistan and Zimbabwe. Nowhere has this slide been more glaring than in Kashmir. Authorities have pressed newspapers by chastising editors and starving them of advertisement funds, their main source of income, to chill aggressive reporting. For the most part, newspapers appear to have cooperated and selfcensored stories, afraid to be branded anti-national by a government that equates criticism with secessionism. “We have been merely trying to keep afloat and hardly have been able to do proper journalism for various reasons, one being that we are mainly dependent on government ads,” said Sajjad Haider, the top editor of Kashmir Observer. There have been press crackdowns in the region before, especially during periods of mass public uprisings. But the ongoing crackdown is notably worse. Last week, a few journalists supportive of the Indian government, with assistance from armed police, took control of the Kashmir Valley’s only independent press club. Authorities shut it down a day later, drawing sharp criticism from journalist bodies. The Editors Guild of India accused the government of being “brazenly complicit” and dubbed it an “armed takeover.” Reporters Without Borders called it an “undeclared coup” and said the region is “steadily being transformed into a black hole for news and information.” The press club is the region’s latest civil society group to face the government’s widening crackdown. In the last two years, authorities have stopped the Kashmir High Court Bar Association and the Kashmir Chamber of Commerce from holding internal elections. The government defended its move by citing “potential law and order situation” and “the safety of bona fide journalists.” It said the club failed to register under a new law and hold elections for a new managing body. The club said new registration was granted by authorities after “six months of rigorous police verification” in late December, but kept in “abeyance” a day later for unknown reasons. The government’s move ran in stark contrast with its policy in the region’s Hindu-dominated Jammu city where another press club continues to function without having held an election for nearly half a decade. Majid Maqbool, a local reporter, said the club extended institutional support to journalists working under difficult conditions. “It was like a second home for us,” he said. Local Kashmiri reporters were often the only eyes on the ground for global audiences, particularly after New Delhi barred foreign journalists from the region without official approval a few years ago. Most of the coverage has focused on the Kashmir conflict and government crackdowns. Authorities are now seeking to control any narrative seen opposed to the broad consensus in India that the region is an integral part of the country. In this battle of narratives, journalists have been berated by authorities for not using the term “terrorists” for separatist rebels. Government communiqués mostly appear on front pages and statements from pro-India Kashmiri groups critical of Modi’s policies are barely published.

Siegfred Bueno Mison, Esq.

THE PATRIOT

he acronym B.S. has several meanings. Bachelor of Science is one, while the more common one stands for something foolish or rubbish in colloquial language. We say “B.S.” in response to a remark that we think is not believable or credible. For instance, someone famous once said “B.S.” when the US space program in the 1950s committed to land man on the moon. Fast forward five decades, some of my countrymen were saying “B.S.” when the notion of a Marcos coming back to power in the Philippines was mentioned a decade after the Marcoses fled the country in light of the 1986 People Power Revolution. Hence, the tagline “Never Again” was introduced as a reminder to all Filipinos that Martial Law or a Marcos dictatorship should never be allowed to return to the country. Disgraced yet still influential, members of the Marcos family managed to slowly make a comeback— first in their bailiwick in Ilocos, and then in Congress. Unperturbed by his defeat in a vice presidential race in 2016, Ferdinand Marcos Jr. is now on the cusp of holding the same position that his father held for 20 years. If the elections were held today, the tagline “Never Again” may have become nothing but B.S. But one pastor once said that B.S. can also stand for Belief System or Blanket Statements. According to Steven Furtick, people say or do things based on their B.S. For instance, close to a century ago, US military organizations may likely have said never to women joining men in combat. Such was the prevailing position back then due to the Belief System of most people in the Army. Soldiers need to be men only. The prevailing B.S. back then was that women had less physical and mental toughness—attributes necessary in a fighting unit. Same-sex relationships were practically unacceptable before, tracing them back to biblical times. These days, some countries have even adopted and legalized same-sex unions. I suppose said blending was called B.S. then inasmuch as the concept of a heterosexual relationship was a solid part of the US Constitution by way of the Fourteenth Amendment. How same-sex marriages came to be in all 50 US states is a much longer story. Bottom line: what happens if the “never,” as in women in the military and same-sex unions, becomes “now”? What happens next

when #NeverAgain becomes #Now in a matter of months? It appears to be a very bleak proposition but is bound to happen unless something short of a miracle prevents a scion of a dictator from being the 17th President of the Republic. Some of my lawyer friends are frantically gathering financial support for the opposition while my colleagues in the military are interestingly supporting candidates against Marcos, albeit anonymously. The other contenders’ campaign team should be in panic mode. Last time I checked, survey ratings put Marcos way ahead with points greater than all the points of the other candidates combined! After all, Marcos has the name recall, the political pedigree, the war chest presumably from his family’s ill-gotten wealth, the nationwide machinery, and such an organized propaganda machine that even some of my more knowledgeable contemporaries have come to believe the narrative peddled by the Marcos campaign team. Voting can be difficult amid the pandemic, which makes the casting and counting of ballots subject to human frailties. The sanctity of the electronic counting machines remains suspect. Worse, should election issues be presented to a higher body, after the vote, members of such a tribunal may not have the fortitude to go against the wealthiest presidential candidate. If you asked me 30 years ago if the Marcoses can return on top of the totem pole, I can easily retort “B.S.” as in “No Way,” relying on my Belief System decades ago. Be like Martha, so I was told. In the Bible, John 11:21-22 gives us the

Monday, January 24, 2022

Be like Martha, so I was told. In the Bible, John 11:21-22 gives us the context as to the story of Lazarus rising from the dead. Martha said to Jesus, “If you had been here, my brother would not have died. But I know that even now God will give you whatever you ask.” Now this brand of Martha faith gives us the confidence that we can ask and pray for, even for the seemingly impossible! context as to the story of Lazarus rising from the dead. Martha said to Jesus, “If you had been here, my brother would not have died. But I know that even now God will give you whatever you ask.” Now this brand of Martha faith gives us the confidence that we can ask and pray for, even for the seemingly impossible! The numbers are foretelling —Marcos can win by a landslide if the other contenders cannot boost their ratings. Many have suggested that some contenders, especially those who consistently garner single digit survey ratings, should abandon their presidential bid and cast their support to others who have better chances of beating Marcos. The Church has been doing its share of promoting values and attributes needed for a leader, in its subtle way of campaigning against Marcos. I am not sure if these efforts will be enough. Be like Martha! In response to her faith-filled statement, Jesus said to Martha, “Your brother will rise again.” Martha answered, “I know he will rise again in the resurrection at the last day.” (John 11:23-24). Then came the most compelling verse that tells believers to follow Jesus—“I am the resurrection and the life. The one who believes in me will live, even though they die” (John 11:25). What I learned from my pastor cousin based in California is that God will give us whatever is asked whenever we acknowledge His presence, subject to His will. We can make life’s choices based on our free will and live with the consequences of our decision. While our loving God knows the desires of our hearts, He knows what’s best for us and when to give it. My free will today tells me to actively campaign against Marcos with the understanding that I may not get the results I want in the end. I urge others to do the same—to engage, educate,

Changing mindsets and mind threats

he responsibilities that are being stipulated in the Statement of Management Responsibility (SMR) for tax purposes as prescribed in Revenue Regulations 3-2010 are nothing new. Taxpayers and management already know their tax obligations and how to comply with these.

It is sad to note that the implementation of the rule for the SMR for tax purposes has not taken off the ground. Though RR 3-2010 has not been repealed and continues to be in place, I am aware that the submission of the SMR has not been a regular practice of taxpayers. Further, the BIR has been complacent in promoting and enforcing compliance. The ingredients of a good tax administration improvement measures are in place in these regulations.

What the SMR intends to accomplish is to instill these responsibilities into the “hearts and minds” of management, they being the persons who most matter in this essential role of correctly paying the taxes. It is commonly known that some tax executives of business enterprises may have taken for granted the tax compliance of their business, if not condoning practices of taking risky or illegal tax positions to reduce the payment of their taxes. With RR 3-2010 in place, these irresponsible tax managers should think twice (and many times over) if they persist in stretching the limits of the tax law in reducing the taxes that they pay. Before the adoption of these regulations, erring executives and business owners might have been able to feign ignorance of their tax obligations.

statement and dutifully sign this. Of course, those signing the document will have to ensure that they are assuming accountability for the integrity of their tax declarations. On the side of the Bureau of Internal Revenue, implementing and enforcing the same is also not complicated and burdensome. This substantially just involves a communication and monitoring process by the BIR. The communication can start with the BIR touching base with the tax practitioners and accountants of taxpayers who should be prompted to remind their principals and clients to comply with this SMR requirement. The monitoring of the SMR submission can be done manually or automated by the BIR. There should be a process to check if the SMRs are being submitted together with the

Joel L. Tan-Torres

DEBIT CREDIT Conclusion

However, now that they are required to acknowledge their awareness of the tax rules by signing the SMR, they have no reason for not complying fully with their responsibilities. It is sad to note that the implementation of the rule for the SMR for tax purposes has not taken off the ground. Though RR 3-2010 has not been repealed and continues to be in place, I am aware that the submission of the SMR has not been a regular practice of taxpayers. Further, the BIR has been complacent in promoting and enforcing compliance. The ingredients of a good tax administration improvement measures are in place in these regulations. The submission of the SMR by taxpayers is not a costly and complicated process. Management is required simply to fill in a one-page

and inform those in their communities about the values needed for a leader. This country needs someone who’s not afraid to face the truth or correct the falsity of a story, in a debate or otherwise. This country needs a leader who places the interest of the people above his own, to the point of admitting fault of his own family. This country needs a leader who will genuinely serve the people and not talk B.S. in the colloquial sense, fabricating stories and revising history in the process. Such is exactly what my friends Ross and Andy do in their own little way. They freely engage every person they meet who they think need greater awareness beyond what the Marcos propaganda tells them. They politely engage all—colleagues at work, security guards, waiters, servers, household helpers, neighbors, family and friends! For Ross and Andy, posting or sharing stories on social media is not enough as they have set their personal stake on the line. So, I encourage those espousing #NeverAgain to exert these kinds of “up close and personal” efforts as done by Ross and Andy reinforced with some Martha-like prayers. In the end, the challenge lies not in consolidating our focus on the things that are visible—like surveys and propaganda. We should keep our eyes on the One who is eternal, and stand on His promises that never fail. For even our choices are subservient to the will of our Heavenly Father, as we become conscious of the truth that He knows what is best for us and for our country, and no one can ever love us more than He can. Certainly there is hope for this country, even with a Marcos presidency. If God wills it, then He will allow such “B.S.,” the Never Again to be Now! And if and when it happens, we just have to trust in His plans. Like women in the military now and same sex marriages, these B.S. years before turned out for the good. Either way, be like Martha! A former infantry and intelligence officer in the Army, Siegfred Mison showcased his servant leadership philosophy in organizations such as the Integrated Bar of the Philippines, Malcolm Law Offices, Infogix Inc., University of the East, Bureau of Immigration, and Philippine Airlines. He is a graduate of West Point in New York, Ateneo Law School, and University of Southern California. A corporate lawyer by profession, he is an inspirational teacher and a Spirit-filled writer with a mission. For questions and comments, please e-mail me at sbmison@gmail.com.

other attachments in the income tax returns filed annually. Thereafter, the BIR can proceed with its enforcement by instituting civil or criminal cases against the tax executive signors of the SMRs for their false representation in the SMR that their companies have been tax compliant when all the while, they have been illegally reducing their tax payments as subsequently determined by BIR audits. This resulting “mind threat’ among taxpayers arising from a proactive and effective BIR enforcement and monitoring would go a long way in changing the mindset of taxpayers of illegal under or non-payment of taxes. The top management of the BIR should appreciate the potential that this measure can do to improve voluntary tax compliance, enhance tax enforcement, and increase tax payment. This can very well be the tipping point for institutionalizing this tax administration enhancement and transparency measure. Joel L. Tan-Torres is the Dean of the University of the Philippines Virata School of Business. Previously, he was the Commissioner of the Bureau of Internal Revenue, the chairman of the Professional Regulatory Board of Accountancy and partner of Reyes Tacandong & Co. and the SyCip Gorres and Velayo & Co. He is a Certified Public Accountant who garnered No. 1 in the CPA Board Examination of May 1979. This column accepts articles for publication from the business and academic community. Articles not exceeding 600 words can be e-mailed to jltantorres@up.edu.ph.

A10 Monday, January 24, 2022

UNITEAM EYES MORE TRADING POSTS TO WIDEN ACCESS TO AFFORDABLE FARM GOODS

N line with its agriculture modernization blueprint, the BBM-Sara UniTeam aims to build more modern bagsakan/bulungan or trading posts to give Filipino consumers access to more affordable farm products. Presidential aspirant Ferdinand “Bongbong” Marcos, Jr. and his running-mate Davao City Mayor Sara Duterte noted the role of high transportation costs in pushing the retail price of agricultural products, and proposed enhancing the distribution channels. “Moving goods around the country is expensive, and as a result, buyers shoulder this cost at the retail level. To even have a fighting chance of lowering retail prices, we need to create an efficient agriculture supply chain starting with these modern trading posts,” the BBM-Sara UniTeam said. Commonly referred as bagsakan/bulungan, these hubs serve as initial delivery points for fish, meat, poultry products, fresh vegetables, and fruits. It also earned its moniker bulungan from how buyers and sellers use hand gestures and whispers to transact. The UniTeam also proposes to equip their planned agricultural produce markets with cold-storage facilities to prolong the shelf life of high-value products and ensure consistent quality of the farm goods. Marcos Jr. and Inday Sara added that they would

closely coordinate with local government units (LGUs) executives in urban and rural parts of the country, to identify the most suitable location for both the permanent and temporary trading posts. Aside from addressing the supply chain issue, the agricultural master plan of the UniTeam also contains employment and entrepreneurial opportunities as it also includes a proposal to upgrade public wet markets in the country, thus spawning more business owners. “At first glance, it would seem that these are lofty goals, but we are serious in giving our people the public service that they deserve—affordable food for their family. We will prove that this is doable through hard work and sheer will,” the UniTeam stressed. The duo also emphasized that the improved supply chain would also positively impact the environment apart from the benefits of a lower price for goods. “We need to encourage consumers to ‘buy local’ since not only is it advantageous for our farmers and the family budget, it will also be a boon for the environment. There will be less production of greenhouse gases since there will be a reduction in the number of trips needed to deliver the goods with these trading posts in place,” the UniTeam pointed out.

RE, gas, BESS top power firms’ agenda amid crunch

By Lenie Lectura

@llectura

ORE power projects and enforcement of key policies should be the focus of the energy sector moving forward, in the view of industry players. Most of the power firms’ projects lined up for the years ahead are renewables, battery energy storage system (BESS), and gas. While they are determined to finish these projects as soon as possible, AC Energy Corp. (ACEN), the power arm of conglomerate Ayala Corp., stressed that it is critical to address medium to long-term imperatives such as developing the next Malampaya, establishing LNG (liquefied natural gas) infrastructure, and scaling up renewables and energy storage. “2022 could be a similar picture, especially as the economy reopens. It is critical to stabilize Malampaya output, complete the construction of GN Dinginin, and ensure reliability of existing plants,” said ACEN President Eric Francia in an interview. The Malampaya gas field in northwest Palawan experienced frequent and longer gas restrictions last year that resulted in tight power supply because gas is fast depleting.

7 of 12 wells only

ACCORDING to an industry source, only seven out of the 12 production wells are “actually producing.” “The pressure in the gas reservoir is really low. It can only give as much as it can,” cited the source. One solution, albeit temporary, is to drill more wells as soon as possible. The cost to do that is estimated at $50million-60 million per well. If done, gas supply could last until 2027. “But it won’t produce the same quantity of gas back in its early years. Still, it would help,” added the source. The drilling activities, however, are dependent on the license of the gas field operator—if it will be extended by the government when it expires in 2024. The Department of Energy (DOE) had already set eight parameters as basis for extending the license. These include Malampaya gas reserves, a work program, decommissioning and restoration plan, assets disposal, gas price, banked gas and revenue sharing

between the government and the contractor. The gas restriction incidents and facility shutdow n of the Malampaya deep-water gas-topower project last year led to an increase in generation cost—a major component of an electric bill, according to Meralco (Manila Electric Company) utility economics head Lawrence Fernandez. “In general, Meralco generation costs in 2021 gradually increased mainly to higher fuel prices, for both Malamaya gas and coal; use of alternative fuel by gas plants due to persistent reduction in Malampaya gas supply; and higher WESM (Wholesale Electricity Spot Market [WESM] charges, as a result of higher demand and plant outages,” said Fernandez in an interview. Francia said the recent supply shock and spike in fossil fuel prices is a stark reminder of the need for energy independence through the development of indigenous resources, inducing renewables. “We believe that we can and should be bolder with our renewable energy goals. Renewables are already competitive to thermal, and enabling technologies such as BESS are increasingly becoming more competitive and scalable. With the right policies in place, we believe that we can accelerate the energy transition.”

SMC’s BESS

THE power arm of conglomerate San Miguel Corp. (SMC) will be able to switch on an initial 690MW of

its BESS facilities early this year. “A total of 690MW of our 1,000MW BESS facilities nationwide will be operational early 2022. By year-end, we will have completed all 31 facilities for a total of 1,000MW in capacity,” said SMC President Ramon Ang. The BESS facilities are seen to not only improve power reliability throughout the country, but also make way for the integration of some 3,000MW of intermittent renewable power into the grid. Aboitiz Power Corp. is also involved in many power projects this year. “For 2022, we are looking forward to seeing our capacities come in. This will also be the year we expect to gain more momentum in our 10-year renewable energy growth. Last year was definitely a good year and we are hopeful at a better 2022,” said company president Emmanuel Rubio in a text message. Aboitiz Power has set a goal of achieving a 50:50 clean energy and thermal capacity mix by 2030. It is earmarking P190 billion in the next 10 years to build an additional 3,700MW to achieve the goal. ACEN, SMC and Aboitiz Power are all keen on exploring liquefied natural gas (LNG) given the depleting supply of gas from Malampaya. “We do foresee certain issues such as gas availability from Malampaya, but we are ready to augment capacity in the grid with GN Power Dinginin. We are hopeful at a better 2022,” added Rubio. Continued on A5

With MDT affirmed, US, PHL set big war games By Rene Acosta

@reneacostaBM

RMY forces from the Philippines and the United States are poised to hold the first big military exercises under the two countries’ defense agreement as sites have been identified in the central part of Luzon. The war games involving troops from the Philippine Army and US Army Pacific (USARPAC) will hold the 20-day land and beach exercises in March in the operational areas of the Army’s 7th Infantry Division in Central Luzon. Army spokesman Col. Xerxes Trinidad said the Army’s Office of the Chief of Staff for Education and Training and American personnel concluded over the weekend their three-day inspection of sites for the “Salaknib” training exercises in different areas in Central Luzon. “Philippine Army and USARPAC teams inspected the proposed training sites to ensure availability, suitability, and training-worthiness,” Trinidad said. Militar y exercises between the US and the Philippines are seen to revert to their original levels beginning this year follow ing the f u l l reinstitution of the Mutual Defense Treaty (MDT) last year after the Philippines recalled its move to have it abrogated. One of the exercises is the Salaknib (Shield) which involves Army forces from both countries.

Salaknib is an annual training exercise sponsored by USARPAC and hosted by the Philippine Army. It aims to enhance Philippine and US defense readiness by developing tactical interoperability, and at the same time, showcases the US government’s resolve to fulfill its alliance obligations in the region. This year’s war games will involve, on the Philippine side, Army troops from the 1st Brigade Combat Team, Training and Doctrine Command, Army Support Command, 51st Engineer Brigade, Civil-Military Operations Regiment, Army Artillery Regiment, Aviation Regiment, Armor Division, Light Reaction Regiment, Special Forces Regiment and First Scout Ranger Regiment. The forces will train side by side with their USARPAC counterparts. Army chief Lt. Gen. Romeo Brawner Jr. commended the Salaknib planning team for its thorough work aimed at ensuring the success of the bilateral exercise even amid the pandemic. “Salaknib, which means shield in Ilocano, is a testament to our enduring ties with the US Army. It is anchored on the PhilippineUS Mutual Defense Treaty and has been ongoing since 2015. The conduct of combined training exercises between the Philippine and US armies will capacitate us in effectively dealing with the fast-changing security landscape of the Indo-Pacific region,” said.

A MERCURY Drug store is seen on President Quirino Avenue in Manila, one of the affiliated drug stores for the government’s “Resbakuna Sa Botika” vaccine initiative, which allows pharmacies and clinics to serve as vaccination sites in order to augment the mass immunization drive and address the shortage of vaccinators. ROY DOMINGO

Namfrel to recruit 50K volunteers for elections

HE National Citizens’ Movement for Free Election (Namfrel) is now eyeing to recruit at least 50,000 volunteers for the upcoming May 2022 polls. In a virtual forum on Sunday, Namfrel chairman Augusto “Gus” C. Lagman disclosed they have already started their volunteer recruitment, which they will be deploying to monitor the conduct of the next polls in the precinct level. “We are recruiting at least 50,000 [volunteers], but hopefully we can recruit 100,000 [volunteers]

since there are over 100,000 precincts,” Lagman said. “If we cannot reach the [100,000] target, then the 50,000 volunteers will each be assigned with two precincts. That is our recruitment plan for now,” he added. Currently, he admitted they are having trouble getting enough volunteers who are willing to help in their monitoring and parallel vote tabulation in the actual 2022 elections, as well as the manual random audit and creation of the open election data after the activity.

“Even if we made commitments last December that they will join us, some of them will later say they are already busy because it will still be a long time before the election. So we cannot expect their commitment,” Lagman said. He said they hope this will change when they resume their recruitment in January and February this year. “I hope they will become volunteers of Namfrel so they can help in the conduct of a clean election,” Namfrel said.

To qualify as a Namfrel volunteer, he said an applicant must be non-partisan, will comply with anti-Covid-19 guidelines as well as regulations of the Commission on Elections and Namfrel regulations. The Namfrel head said applicants, who are barangay officials of barangay tanod or have been convicted of any election offense or crime, will be banned from volunteering. Interest volunteers may register at https://namfrel.org.ph. Samuel P. Medenilla

Companies

Editor: Jennifer A. Ng

Monday, January 24, 2022

Locators, truck operators may tap Cavite port–ICTSI

By Lorenz S. Marasigan

@lorenzmarasigan

nternational Container Terminal Services Inc. (ICTSI) said on Sunday the Cavite Gateway Terminal (CGT) is ready to be an alternative for transporting containers to the Port of Manila, as the government closed for four months the southbound portion of Roxas Boulevard. ICTSI EVP Christian R. Gonzales said locators and truck operators from Calabarzon may opt for CGT instead of directly bringing their containers to Manila, given the expected heavy traffic due to the closure of a portion of Roxas Boulevard, a cargo truck trade route connecting the Port of Manila to Southern Luzon. Close to 900 trucks and over 1,000 trailers daily travel the road’s southbound direction alone. “We support the Metropolitan

Manila Development Authority’s [MMDA] call to look for other ways to transport containers, and we are happy to be able to offer an alternative through the services provided by CGT,” Gonzales said in a statement. The MMDA recently announced the closure of the southbound lanes of Roxas Boulevard, as the Department of Public Works and Highways (DPWH) repairs a damaged box culvert in front of a pumping station in Pasay City.

Photo shows containers from the Manila International Container Terminal being offloaded at the Cavite Gateway Terminal. From www.ictsi.com

CGT utilizes the sea lanes of Manila Bay to help locators bring their containers to the Port of Manila. It is a dedicated container barge terminal located in Tanza, Cavite. Gonzales said CGT is ready to accommodate the container traffic given that ICTSI recently beefed up its yard and wharf operations with the deployment of landside container handling equipment as well as directly contracted barge equipment. With an area of six hectares, the CGT has the capacity to handle 115,000 TEUs annually.

“As the country begins to reopen its economy, we shall continue to support the country’s importers and exporters not only through enhancements in our operated terminals, but also through practical solutions and alternatives for our importers and exporters,” Gonzales said. CGT, he added, offers locators faster, cost- effective maritime links for international cargo and supports domestic cargo movements between Luzon and other islands of the Philippine archipelago.

Nolledo infuses ₧100M into Xurpas By VG Cabuag @villygc

urpas Inc. Chairman and Co-founder Nico Jose S. Nolledo is infusing some P100 million into the struggling technology firm after it failed to secure a deal with Los Angeles-based venture capitalist, Wavemaker Partners. Nolledo, one of the three founders of the once high-flying technology company which started as a supplier of online games to telecom firms, is infusing some P100 million worth of shares, which he is buying at a premium. The subscription price per share shall be computed based on a 30-day weighted average price. The 30-day weighted average price shall be subject to a 5 percent premium and a floor price of P0.55 per share. “The fresh capital infusion will be used for the expansion of Xurpas’ enterprise business, specifically

Netflix shares sink most since 2012

etflix Inc. tumbled by the most since July 2012 as analysts downgraded the streaming giant after it gave an outlook for subscriber additions that fell short of Wall Street’s expectations. The selloff of 22 percent on Friday dragged the stock to the lowest level since April 2020. At least nine firms tracked by Bloomberg cut their recommendation on the stock after Netflix forecast adding just 2.5 million customers in the first quarter, compared with analysts’ expectations for 6.26 million additions. Intensifying competition is becoming a “bigger problem now” for Netflix, Macquarie analyst Tim Nollen said in a report, downgrading the stock to a sell-equivalent rating. The subscriber outlook is disappointing, and contributes to an uncertain outlook, he said. Post-earnings slumps aren’t new for Netflix investors, but Friday’s drop was the ugliest share-price reaction in the session following results since after its second-quarter report in 2012, according to data compiled by Bloomberg. Shares have advanced on the day after earnings just twice out of the past 12 quarters, excluding the most recent quarter, data compiled by Bloomberg show. Bloomberg News

the IT staff augmentation business; employee benefits enhancement; equipment replacement; research and development; and general corporate purposes,” the company said in its disclosure. The shares will be issued out of the available authorized capital stock and it will be issued to Nolledo within 10 calendar days from the closing date of the deal. “The past two years have been quite challenging, all the more so due to the ongoing pandemic. But there have also been opportunities for growth, as many companies try to accelerate their digital transformation and other IT initiatives,” said Alexander D. Corpuz, president of Xurpas. “We have made meaningful progress in rebuilding our revenue base by focusing on staff augmentation. Nix [Nolledo’s] continued support through this infusion will go a long way towards allowing us to further

grow the business, while strengthening our balance sheet,” Corpuz said. Nolledo’s infusion came after the company failed to secure a deal with Wavemaker’s general partners Frederick Manlunas, Benjamin Paul Santos and James Jordan for the acquisition of some 1.7 billion in new common shares of Xurpas at a mere P0.10 per share. The said shares were equivalent to about 48 percent of the company. “While the company was working on completing the transaction with Wavemaker during the past two years, the definitive agreements between the parties stipulated that closing for the transaction must be completed by December 31, 2020,” Xurpas said. “As such closing was predicated on Xurpas securing regulatory approval for the transaction, which the Company failed to obtain, the aforementioned condition of a closing by December 31, 2020 was not met. The

parties therefore mutually agreed to terminate the proposed transaction and part ways amicably.” Xurpas made its debut at the Philippine Stock Exchange on December 2014. Its shares were one of the best stock performers back then, exceeding its IPO price of P3.97 per share by at least 10 times. Its shares closed at P0.53 apiece on Friday. The company said the losses it incurred reached P3.2 billion as of September 30. “To address this issue, Xurpas management is currently evaluating the option of applying for an equity restructuring with the Securities and Exchange Commission which will entail using Xurpas’ additional paid-in capital amounting to P3.5 billion to wipe out the parent company’s deficit in 2021. This will improve the company’s financial profile and optimize its performance moving forward.”

fully grow our base and reach the P1-billion mark in total transaction volume,” said NextPay CEO and Co-Founder Don Pansacola. “We expect to persist on a growth path this 2022, as we continue to introduce more innovative financial services that empower g row ing businesses with big banking solutions.” To recall, NextPay raised a total of $1.9 million—twice as much as its target of $1 million—from the pre-seed round from Silicon Valley-based startup accelerator Y Combinator as well as the $1.6 million from the seed funding round that was led by Singapore-based venture capitalist Golden Gate Ventures and Gentree Fund, a private investment vehicle of the Sy Family, which owns Filipino conglomerate SM Group. Last year, NextPay also beefed up its platform, introducing innovations such as reusable payment links and online-to-offline disbursements via remittance centers. “As we continue to evolve as

a fintech startup that addresses the needs of growing businesses, we reaffirm our commitment to further improving our platform through innovation. We aim to introduce more flexible disbursement options, as well as explore high-growth areas of trade financing, corporate cards, and cryptocurrency services,” NextPay Chief Experience Officer and Co-Founder Aldrich Tan said. NextPay, which claims to democratize financial access by offering big banking ser vices without the steep requirements and high fees, also plans to start its new round of funding “within the first half of 2022.” “We are optimistic about the opportunities for the year 2022. As we start the next round of fundraising this year, we remain committed to providing big banking services to small businesses. We will continue to innovate this year and introduce more digital financial services to serve the ever-evolving needs of our customers,” Pansacola said. Lorenz S. Marasigan

Meralco asks power firms to join auction for 850MW supply By Lenie Lectura @llectura

he Manila Electric Co. (Meralco) is inviting interested power firms to challenge Terra Solar’s unsolicited bid offer of 850 megawatts (MW) of mid-merit renewable energy for 20 years. In a bid invite, the utility firm said Terra Solar proposed a P6.0800 per kilowatt-hour (kWh) headline rate and levelized cost of electricity (LCOE). “Meralco, through the ThirdParty Bids and Awards Committee (TPBAC), hereby invites all interested and qualified parties to participate in the competitive challenge bidding,” Meralco said. Terra Solar is the special purpose vehicle of Prime Infrastructure Capital Inc. and Solar Philippines Power Project Holdings, Inc. It will source power from its planned solar power plants with Energy Storage System (ESS) located in Batangas-Cavite, Bulacan, Nueva Ecija, Tarlac, and Zambales. The bid invite stated that these plants are under development. The offer includes 600 MW to be made available for Meralco by February 26, 2026; while the additional 250 MW is expected to be delivered starting February 26, 2027. Interested bidders have until February 2 to submit their Expressions of Interest. A pre-bid conference will be held on February 4; while the bid submission deadline is on March 7. The bidders may change their indicated nominated

Power lines run beside a sign of the Manila Electric Co. branch in Manila in this Bloomberg file photo.

power plant until February 28. They must pay P4.25 million in participation fee to become an interested bidder and to obtain bid documents. An additional P2.5-billion bid security is required. This CSP round is in compliance with the Department of Energy’s policy on Renewable Portfolio Standards (RPS) and forms part of Meralco’s efforts to source up to 1,500 MW of its power requirements from renewable energy sources. “ We aim to accelerate our transition to cleaner energy as we pledge to source 1,500MW of power requirements from renewable energy sources in the next five years,” Meralco President Ray Espinosa said last year. “We’re also committed to building up to 1,500MW in utility scale renewable energy power plants in the next five to seven years.” Incidentally, Meralco’s power generation arm, Meralco PowerGen Corp., is developing renewable projects with a total capacity of 1,500MW. It has already built a 55MW solar power plant in Bulacan, which started operations in May last year.

Tycoon’s son files raps NextPay transactions breach ₧1B against officials of SIC

omegrown financial t e c h n o l o g y (f i nt e c h) s t a r t up Ne x t Pay h a s breached the P1-billion mark in total transaction volume in 2021, prompting its founders to paint a rosy outlook for 2022. NextPay CEO and Co-Founder Don Pansacola called this a “milestone” for the startup, which gained traction last year after being launched in 2020. He attributed the recorded volume to the growth in invoice payments, employee salaries, and vendor payments last year. He added that NextPay’s customer base ballooned by “roughly 20 times over the last 12 months,” serving various small and medium enterprises in industries like consumer goods, technology, healthcare, investment management, automotive, e-commerce, and agriculture. “The year 2021 was a banner year for NextPay. From being part of the prestigious Y Combinator Program and successfully closing an oversubscribed seed funding round, we were able to success-

son of the late business tycoon Mariano A. Nocom Sr. has filed qualified theft charges against the officers and directors of real estate firm, Salem Investment Corp. (SIC), for allegedly misappropriating its funds amounting to P45.75 million. The complaint was filed by businessman Mariano T. Nocom Jr. He named Caroline O. Nocom-Ng, Albert O. Nocom, Matthew Nocom, Martin Nocom and Helen Sy-Lim, who are all directors and officers of SIC, as respondents. In a 10-page complaint filed before the Office of the City Prosecutor, Pasay City, Nocom Jr. claimed that the business that his father built and nurtured through the years lost money because corporate funds entrusted to accountable officers were illicitly withdrawn and without his knowledge and permission. “The proceeds of the withdrawals were used to apply for cashier’s made payable to themselves and appropriated by the respondents for their own personal use without the consent of and in breach of the trust and confidence of Salem,” the complaint read.

“With malice and intent to gain, respondents Caroline, Matthew, Martin and Albert with the assistance and connivance of Helen, all conspired with one another to withdraw funds in substantial amounts from the bank account, by making it appear that it will be utilized to pay for taxes due against Salem…,” it added. The complainant said none of the respondents have produced the appropriate document as proof of payment to the Bureau of Internal Revenue. The withdrawals, according to the complainant, were made between January to February in 2020. Lim, according to the complaint, prepared the vouchers, checks and other documents that made possible the irregular withdrawal of SIC funds from the Metropolitan Bank and Trust Co. Nocom Jr. said Caroline is company treasurer while Matthew, Albert and Martin are company directors. Nocom Jr. is seeking the prosecution of the respondents for violation of Article 310 or in relation to 308 or qualified theft under the Revised Penal Code. Joel R. San Juan

Companies BusinessMirror

Monday, January 24, 2022

Report: Japan’s Ministop Co. to sell stake to Gokongweis

By VG Cabuag

@villygc

apan’s Ministop Co. Ltd. is selling all of its shares in the local Ministop venture to Gokongwei-led retail chain, Robinsons Convenience Stores Inc. (RCSI).

According to a Nikkei report, the Japanese firm will sell its 40-percent stake in the local convenience store chain to RCSI. The Japanese convenience store giant said it will also sell its stake in Ministop Korea to Korean conglomerate, Lotte. It has liquidated its Chinese unit in Quingdao last September. Ministop has struggled to compete in the Philippines. According

to its website, it has 511 stores in the country. The figure is fewer than 7-Eleven’s 3,019 branches as of end-September and Alfamart’s 1,161 stores. Its other competitors include Lawson, operated by the businessman Lucio Co with 55 branches as of 2020; Familymart, bought in 2018 by Davao businessman Dennis Uy, has 87 stores; and the AllDay convenience store of the Vil-

lar Group which has 73 branches. The Gokongwei family, through Robinsons Retail Holdings Inc. (RRHI), has the exclusive right to use the Ministop system in the Philippines which was granted to the group by Ministop Co. Ltd. Royalty paid to its Japanese owners amounted to P33.65 million for the nine months of 2021, down from P43 million for the same period in 2020, as sales plummeted due to the pandemic. Ministop recorded systemwide sales and net sales at P3.98 billion and P3.58 billion, respectively as of September 2021. Systemwide sales growth rose 3.3 percent in the third quarter of 2021, from 1.7 percent in the previous quarter. “Around 90 percent of our 458 stores are already operating as of end-September 2021, an increase from 87 percent last year. Of the

operating stores, 59 percent are open 24 hours compared to 40 percent last year,” it said in its report. In 2000, RRHI partnered with Ministop Co. Ltd and Mitsubishi Corp. to establish Ministop in the Philippines. On August 28, 2018, Mitsubishi sold its entire 12 percent ownership in Robinsons Convenience Stores Inc. to Robinsons Inc. (RI) and Ministop. As a result of the transaction, RI’s ownership interest in RCSI increased to 59.05 percent from 51 percent while Ministop’s ownership increased to 40.9 percent from 36.9 percent. On November 4, 2019, Robinsons Inc. also purchased 18.94 million shares from Ministop Co. Ltd for P18.95 million. As a result of the transaction, RI’s ownership interest in RCSI increased to 60 percent from 59.05 percent.

PSE STOCK QUOTATIONS

Last week

Share prices managed to post gains last week despite volatile trading, but trading value remained low, as many investors stayed on the sidelines. The benchmark Philippine Stock Exchange (PSE) index gained 32.18 points to close at 7,293.52 points. The main index fell during the first trading day of the week but made big gains the next day, which allowed it to withstand the fall during the succeeding two days, as global markets digested the impact of the hawkish stance of the United States Federal Reserves on its rates. Average value turnover for the week was still low at P5.22 billion, despite the first initial public offering of the year made by Haus Talk Inc., whose share price remained at P1.50 apiece by the end of the week. Foreign investors were net sellers at P1.29 billion. Other sub-indices ended mixed. The broader All Shares index was up 14.10 points to close at 3,869.40 points, the Financials index was down 3.54 to 1,658.94, the Industrial index rose 35.25 to 10,416.15, the Holding Firms index gained 127.11 to 7,190.14, the Property index declined 38.65 to 3,178.45, the Services index fell 3.37 to 1,973.11 and the Mining and Oil index soared 443.79 to 10,530.88. For the week, gainers slightly edged losers 114 to 112 and 20 shares were unchanged. Top gainers for the week were ATN Holdings Inc. A and B shares, Oriental Petroleum and Minerals Corp. A, Solar Philippines Nueva Ecija Corp., Premiere Horizon Alliance Corp., Transpacific Broadband Group Int’l. Inc. and Asiabest Group International Inc. Top losers were Manila Broadcasting Co., Metro Alliance Holdings and Equities Corp. A, Jolliville Holdings Corp., Merrymart Consumer Corp., Concrete Aggregates Corp. A, EEI Corp. and DITO CME Holdings Corp.

This week

Trading may remain volatile this week as investors will weigh developments related to the economy and the Covid-19 cases. This week, the government will announce the GDP for the fourth quarter of 2021, which many expects to be higher than the 7.1 percent recorded in the third quarter, despite the reimposition of the strictest lockdown measure in August. “The omicron variant creeping in the late fourth quarter to date will skew the outlook for the next quarter,” broker 2TradeAsia said. The listing of the shares of Figaro Coffee Group Inc. on PSE and the end of the stock rights offering of DITO will happen this week. “It will be interesting to see how the rest of the first quarter of 2022 will play out given the lack of base effect advantage plus stymied mobility at least for the first month of the quarter,” 2TradeAsia said. Investors will also monitor developments related to the US Federal Reserve meeting this week as markets have already started to move in anticipation of tightening of rates, it said. The broker sees immediate support of the main index at 7,200 points and resistance at 7,400 points.

Stock picks

Broker Regina Capital Development Corp. advised to sell on rallies on the stock of Andrew Tan’s Alliance Global Group Inc. (AGI) as after six consecutive sessions of rallying, its shares immediately pulled back following a very brief venture into the overbought region. “Indicators, while still very bullish, are starting to show declining buying pressure coupled with increasing selling momentum. This downturn was, for all intents and purposes, definitely warranted. The stock is already significantly above all its major historical averages, meaning it is trading at a premium to most--if not all--of its recent positions. Note that AGI is already back to its pre-pandemic levels,” it said. AGI shares closed Friday at P12.50 apiece. Meanwhile, the broker advised to take profits on the stock of Nickel Asia Corp. (NIKL) as its shares is trading precariously close to its tried and tested resistance at P6.40. “This means that there’s a looming pullback that could see NIKL correcting the initial rally and reverting back to its previous weekly range closer to P5.50. Note that indicators are already sounding overbought alarms, which further solidifies our expectations of a downturn. The best time to position would be when NIKL’s current share price settles back to its moving averages now currently at P5.40 to 5.44.” Nickel Asia’s shares closed last week at P6 apiece. VG Cabuag

January 21, 2022

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

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

818,800 71,727,062 116,806,731 1,862,350 2,619,101 335,626,786.50 74,198 2,191,815 66,776 120,000 36,429,833 31,941,317.50 49,150 6,500 85,480 46,100 19,600 18,270 34,400 42,150 80,400

743,150 4,526,436 -12,188,388 -2,019,195.00 -145,168,867 74,198.00 135,050 5,750 681,252 22,159,889 -19,800 27,840 -

INDUSTRIAL AC ENERGY 9.64 9.65 9.7 9.7 9.6 9.65 8,486,100 81,756,866 ALSONS CONS 1.05 1.06 1.04 1.07 1.02 1.07 703,000 724,660 ABOITIZ POWER 33 33.25 33.55 33.6 32.8 33.25 2,502,900 83,317,775 BASIC ENERGY 0.55 0.56 0.54 0.57 0.54 0.56 5,102,000 2,822,810 FIRST GEN 27.7 27.75 28.1 28.1 27.7 27.75 114,800 3,188,870 FIRST PHIL HLDG 70.2 70.25 70.25 70.25 70.2 70.25 37,510 2,633,520 MERALCO 311.8 315 310 315 310 315 67,020 21,047,336 24.9 25 25 25 24.7 25 1,162,600 29,005,955 MANILA WATER 3.32 3.33 3.32 3.33 3.31 3.33 726,000 2,410,480 PETRON PETROENERGY 4 4.2 4.15 4.2 4 4.2 112,000 463,050 PHX PETROLEUM 10.52 10.72 10.72 10.72 10.72 10.72 5,000 53,600 SYNERGY GRID 12.96 12.98 13 13.06 12.94 12.98 2,742,400 35,578,198 19.1 19.28 19.4 19.4 19.08 19.1 107,200 2,056,468 PILIPINAS SHELL 14.16 14.26 14.46 14.46 14.16 14.16 147,100 2,105,908 SPC POWER SOLAR PH 1.73 1.74 1.62 1.74 1.62 1.73 235,185,000 400,388,290 AGRINURTURE 4.8 4.9 4.8 4.92 4.7 4.9 133,000 636,480 AXELUM 2.85 2.88 2.85 2.88 2.85 2.88 58,000 166,830 CENTURY FOOD 25.9 26.2 26.75 26.75 25.9 25.9 3,621,100 94,162,605 DEL MONTE 15.3 15.5 15.22 15.56 15.22 15.5 5,400 83,558 DNL INDUS 8.56 8.58 8.6 8.64 8.55 8.58 511,200 4,388,426 EMPERADOR 19.38 19.5 19.2 19.54 19.06 19.38 2,728,500 52,577,312 69 69.2 69 69.6 68.85 69.2 114,630 7,912,794 SMC FOODANDBEV 1.26 1.28 1.28 1.28 1.26 1.28 4,085,000 5,199,040 FRUITAS HLDG 117.4 117.5 121.5 121.5 115.3 117.5 45,910 5,419,429 GINEBRA 230 230.4 227 231.6 223.2 230.4 516,520 117,580,042 JOLLIBEE 1.38 1.39 1.37 1.39 1.36 1.38 5,007,000 6,881,690 KEEPERS HLDG 6.39 6.4 6.4 6.4 6.39 6.4 108,500 694,258 MAXS GROUP 16.5 16.52 16.3 16.66 16.3 16.5 13,188,400 216,991,922 MONDE NISSIN SHAKEYS PIZZA 9.43 9.45 9.61 9.61 9.36 9.45 367,500 3,466,119 ROXAS AND CO 0.64 0.65 0.65 0.65 0.65 0.65 112,000 72,800 RFM CORP 4.58 4.6 4.65 4.65 4.6 4.6 490,000 2,254,050 SWIFT FOODS 0.103 0.105 0.102 0.107 0.102 0.103 1,120,000 115,550 UNIV ROBINA 126.8 127 126.9 127.4 126.5 127 626,550 79,515,831 VITARICH 0.7 0.72 0.72 0.72 0.7 0.7 949,000 683,180 1.09 1.1 1.07 1.11 1.06 1.1 3,379,000 3,658,640 CEMEX HLDG EAGLE CEMENT 14.74 14.76 14.72 14.74 14.72 14.74 448,100 6,600,126 6.24 6.25 6.34 6.34 6.24 6.25 406,700 2,545,485 EEI CORP 5.9 5.91 6 6 5.85 5.91 220,700 1,309,453 HOLCIM 5.04 5.05 5.04 5.09 5.03 5.05 309,600 1,561,890 MEGAWIDE 20.75 20.85 20.75 20.8 20.75 20.8 8,400 174,600 PHINMA TKC METALS 0.79 0.83 0.79 0.85 0.78 0.8 471,000 374,380 VULCAN INDL 0.91 0.92 0.9 0.92 0.9 0.92 1,942,000 1,759,340 CROWN ASIA 1.69 1.73 1.73 1.73 1.73 1.73 3,000 5,190 EUROMED 1.41 1.49 1.49 1.49 1.49 1.49 13,000 19,370 PRYCE CORP 5.67 5.75 5.7 5.75 5.7 5.75 88,100 505,145 CONCEPCION 20.25 21.25 21.25 21.25 21.25 21.25 400 8,500 GREENERGY 2.17 2.2 2.19 2.21 2.16 2.2 3,442,000 7,550,470 INTEGRATED MICR 9.7 9.71 9.68 9.85 9.61 9.7 444,400 4,316,765 0.71 0.72 0.72 0.72 0.71 0.71 321,000 229,120 IONICS PANASONIC 5.88 6.04 6.05 6.05 6.04 6.05 5,100 30,825 SFA SEMICON 1.08 1.1 1.1 1.1 1.08 1.08 76,000 82,100 CIRTEK HLDG 3.85 3.86 4 4 3.84 3.86 1,888,000 7,356,110

16,638,271 -8,480 4,662,635.00 26,320 -2,315,165 454,307.50 7,795,004 -13,878,335 8,671,232 -1,917,618 28,320 -8,168,420 274,660 -3,971,890 -1,565,348 -24,303,786 -361,380 12,600 -703,425 -32,807,868 -211,460 19,200 35,399,676 -345,566 41,350 -14,457,520 3,365,154 -1,830,224 -70,310 27,271 -6,079,160 831,018 -1,553,780

HOLDING & FRIMS

STOCK-MARKET OUTLOOK

www.businessmirror.com.ph

ABACORE CAPITAL AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL ANSCOR ANGLO PHIL HLDG ATN HLDG A ATN HLDG B COSCO CAPITAL DMCI HLDG FILINVEST DEV FORUM PACIFIC GT CAPITAL JG SUMMIT LODESTAR LOPEZ HLDG LT GROUP MABUHAY HLDG METRO PAC INV PACIFICA HLDG PRIME MEDIA REPUBLIC GLASS SOLID GROUP SM INVESTMENTS SAN MIGUEL CORP TOP FRONTIER WELLEX INDUS ZEUS HLDG

44.1 129.4 94.7 25.6 9.39 57.3 17.7 20.25 57.6 20 110.8 98.8 1.71 0.65 0.86 0.3 950 0.67 210 2,800 0.8

0.94 864 61.7 12.5 7.92 0.9 0.6 0.64 5.14 8.34 7.11 0.265 552 61.5 0.63 3.25 10.1 0.38 3.87 2.93 1.16 2.91 1.09 951.5 111.3 123.1 0.22 0.176

44.9 129.5 94.75 25.65 9.4 57.8 18.78 20.4 57.9 20.4 111 102 1.85 0.7 0.88 0.335 960 0.72 215 2,810 0.88

0.96 868 62.95 12.52 8 0.92 0.62 0.69 5.15 8.35 7.2 0.285 555 62 0.65 3.3 10.12 0.415 3.89 3.13 1.25 3.17 1.14 959 111.9 126.5 0.245 0.18

44.5 128.1 94.2 25.7 9.39 58.15 18.24 20.5 57.5 20 111 101.5 1.8 0.65 0.87 0.325 980 0.65 215 2,810 0.81

0.96 845 60.7 12.52 8.1 0.89 0.65 0.72 5.11 8.5 7.49 0.265 554.5 59.95 0.63 3.27 10.06 0.375 3.9 2.9 1.16 2.91 1.14 956 112 123.1 0.22 0.18

44.5 129.5 94.9 25.7 9.51 58.15 18.98 20.5 57.9 20 111 103 1.85 0.65 0.87 0.34 980 0.72 215 2,810 0.81

0.96 868 62.95 12.62 8.1 0.89 0.7 0.84 5.14 8.5 7.49 0.265 555 62 0.65 3.34 10.14 0.375 3.9 3.12 1.27 2.91 1.14 959 112 126.5 0.22 0.18

44.5 127.6 94.2 25.4 9.39 57.05 18.24 20.2 57.5 20 109.2 97 1.8 0.65 0.86 0.325 980 0.65 215 2,810 0.8

0.94 845 60.7 12.32 7.9 0.89 0.6 0.67 5.11 8.26 7.4 0.265 548 59.15 0.63 3.27 10.02 0.375 3.86 2.9 1.16 2.91 1.09 945 110.4 123.1 0.22 0.176

44.5 129.5 94.7 25.65 9.4 57.3 18.98 20.4 57.9 20 111 102 1.85 0.65 0.86 0.34 980 0.72 215 2,810 0.8

0.96 868 62.95 12.5 7.92 0.89 0.6 0.69 5.14 8.35 7.4 0.265 555 62 0.65 3.3 10.1 0.375 3.89 3.12 1.27 2.91 1.09 959 111.9 126.5 0.22 0.176

18,400 555,870 1,234,260 72,600 278,500 5,857,530 4,000 108,100 1,160 6,000 329,290 316,420 27,000 10,000 99,000 140,000 20 28,000 160 15 100,000

2,521,000 124,620 830,230 1,189,000 14,100 22,000 25,029,000 7,465,000 821,700 5,368,700 11,000 50,000 117,340 2,260,210 27,000 807,000 1,803,000 50,000 10,860,000 6,000 70,000 9,000 28,000 141,740 55,360 1,360 20,000 1,440,000

2,404,580 107,657,905 51,657,232 14,804,184 113,004 19,580 16,457,250 5,712,890 4,222,271 44,751,273 81,490 13,250 64,897,395 138,006,257.50 17,030 2,662,510 18,184,364 18,750 42,132,850 17,620 81,520 26,190 30,740 135,376,350 6,155,635 172,006 4,400 258,840

PROPERTY ARTHALAND CORP 0.62 0.63 0.61 0.62 0.61 0.62 33,000 20,210 AYALA LAND 34.5 34.65 34.2 34.65 33.85 34.65 8,720,300 299,953,570 AYALA LAND LOG 6.09 6.1 6.1 6.17 6.06 6.1 2,096,300 12,780,991 AREIT RT 52 52.05 52.15 52.2 52 52.05 367,960 19,150,911 A BROWN 0.79 0.8 0.76 0.79 0.76 0.79 44,000 33,500 CITYLAND DEVT 0.74 0.75 0.74 0.74 0.74 0.74 10,000 7,400 CROWN EQUITIES 0.101 0.105 0.1 0.105 0.1 0.105 15,100,000 1,517,970 2.91 2.92 2.91 2.92 2.89 2.92 242,000 701,440 CEB LANDMASTERS 0.4 0.405 0.4 0.4 0.4 0.4 140,000 56,000 CENTURY PROP 7.03 7.04 7.08 7.08 7 7.04 352,000 2,474,292 DOUBLEDRAGON 1.8 1.81 1.8 1.81 1.79 1.81 2,545,000 4,586,400 DDMP RT 6.77 6.78 6.78 6.78 6.78 6.78 30,500 206,790 DM WENCESLAO EMPIRE EAST 0.255 0.26 0.255 0.255 0.255 0.255 30,000 7,650 EVER GOTESCO 0.33 0.335 0.33 0.335 0.32 0.33 16,860,000 5,539,350 FILINVEST RT 7.63 7.64 7.6 7.65 7.6 7.64 1,314,800 10,050,564 FILINVEST LAND 1.08 1.09 1.1 1.1 1.09 1.09 3,214,000 3,504,970 GLOBAL ESTATE 0.94 0.97 0.95 0.98 0.94 0.94 260,000 250,750 8990 HLDG 11.52 11.7 11.68 11.76 11.6 11.7 292,600 3,418,910 GOLDEN MV 521 540 517 540 517 540 1,300 688,650 PHIL INFRADEV 1.13 1.14 1.13 1.13 1.12 1.12 357,000 401,980 CITY AND LAND 0.88 0.92 0.92 0.92 0.88 0.88 64,000 56,860 3.2 3.21 3.2 3.2 3.13 3.2 8,215,000 26,109,330 MEGAWORLD 0.236 0.237 0.23 0.24 0.228 0.235 7,390,000 1,728,990 MRC ALLIED MREIT RT 22.35 22.4 22.4 23 22.25 22.4 2,554,700 57,464,015 0.35 0.355 0.345 0.35 0.34 0.35 290,000 99,650 OMICO CORP PHIL ESTATES 0.49 0.495 0.485 0.495 0.485 0.49 2,100,000 1,026,500 PRIMEX CORP 2.09 2.1 2.07 2.1 2.03 2.1 853,000 1,766,510 RL COMM RT 8.53 8.55 8.58 8.64 8.51 8.55 4,215,000 36,227,387 ROBINSONS LAND 18.7 18.98 18.9 19.28 18.64 18.7 4,181,000 78,498,712 PHIL REALTY 0.213 0.214 0.205 0.214 0.205 0.214 1,520,000 312,320 ROCKWELL 1.47 1.51 1.47 1.5 1.47 1.47 63,000 94,440 SHANG PROP 2.58 2.62 2.61 2.61 2.61 2.61 274,000 715,140 STA LUCIA LAND 2.75 2.84 2.83 2.84 2.8 2.84 50,000 141,550 SM PRIME HLDG 34.45 34.7 33.65 34.7 33.6 34.7 7,521,700 257,892,705 1.08 1.13 1.08 1.13 1.08 1.13 81,000 87,830 SUNTRUST HOME VISTA LAND 3.48 3.5 3.5 3.52 3.45 3.5 169,000 586,510 SERVICES ABS CBN 14 14.06 13.86 14.16 13.6 14.06 443,600 6,217,662 GMA NETWORK 14.84 14.88 14.94 14.94 14.74 14.84 518,200 7,700,824 MANILA BULLETIN 0.42 0.435 0.42 0.44 0.42 0.42 40,000 17,000 MLA BRDCASTING 9.02 10.06 9.02 9.02 9.02 9.02 500 4,510 GLOBE TELECOM 3,316 3,318 3,362 3,362 3,316 3,318 33,070 109,848,460 PLDT 1,872 1,878 1,873 1,878 1,864 1,878 56,745 106,325,000 APOLLO GLOBAL 0.077 0.078 0.078 0.082 0.076 0.078 437,020,000 34,287,310 31 31.05 31.25 31.3 30.95 31 4,207,100 130,605,895 CONVERGE 2.3 2.34 2.39 2.39 2.3 2.34 195,000 453,880 DFNN INC DITO CME HLDG 5.3 5.36 5.5 5.5 5.3 5.3 6,755,000 36,263,952 1.71 1.74 1.71 1.74 1.71 1.74 13,000 22,290 JACKSTONES NOW CORP 1.36 1.37 1.4 1.42 1.3 1.37 2,755,000 3,754,950 0.355 0.36 0.345 0.365 0.345 0.355 14,750,000 5,288,500 TRANSPACIFIC BR 7.34 7.45 7.33 7.35 7.33 7.34 2,800 20,561 2GO GROUP ASIAN TERMINALS 13.62 14 14 14 14 14 11,000 154,000 CHELSEA 1.69 1.7 1.66 1.69 1.66 1.69 275,000 462,740 CEBU AIR 42 42.2 42 42.2 41.95 42 117,100 4,919,325 INTL CONTAINER 199.9 200 200 202 196 199.9 1,408,990 280,408,763 LBC EXPRESS 22.65 23.8 24.75 24.75 23.8 23.8 1,400 33,510 MACROASIA 5.16 5.17 5.17 5.24 5.16 5.16 258,100 1,338,439 METROALLIANCE A 1.03 1.07 1.03 1.04 1.03 1.03 153,000 157,670 0.83 0.84 0.83 0.85 0.83 0.83 232,000 193,220 HARBOR STAR DISCOVERY WORLD 1.77 1.8 1.8 1.83 1.78 1.78 245,000 438,600 WATERFRONT 0.465 0.49 0.465 0.465 0.465 0.465 150,000 69,750 IPEOPLE 6.69 7.55 7.5 7.5 7.5 7.5 1,400 10,500 STI HLDG 0.335 0.34 0.34 0.34 0.335 0.335 30,000 10,100 1.33 1.34 1.34 1.34 1.32 1.34 74,000 98,460 BELLE CORP BLOOMBERRY 6.15 6.17 6.42 6.42 6.15 6.15 3,922,800 24,355,674 PACIFIC ONLINE 1.77 1.82 1.76 1.83 1.76 1.82 161,000 292,080 LEISURE AND RES 1.34 1.35 1.32 1.37 1.32 1.36 1,456,000 1,963,900 PH RESORTS GRP 0.73 0.75 0.73 0.77 0.73 0.74 1,051,000 778,400 PREMIUM LEISURE 0.445 0.45 0.45 0.45 0.445 0.45 1,260,000 566,250 PHIL RACING 5.6 5.99 5.65 5.65 5.65 5.65 50,000 282,500 PHILWEB 2.02 2.04 2.04 2.04 2 2.02 164,000 331,190 0.6 0.61 0.6 0.61 0.59 0.61 27,392,000 16,516,140 ALLDAY 5.52 5.6 5.52 5.52 5.52 5.52 15,000 82,800 BERJAYA ALLHOME 8.9 8.91 8.91 8.93 8.83 8.9 162,000 1,441,979 1.37 1.38 1.37 1.38 1.35 1.37 159,000 217,160 METRO RETAIL 37.45 37.65 37.65 37.7 37.4 37.45 660,100 24,791,470 PUREGOLD 57.6 57.65 57.1 57.95 57.1 57.65 337,990 19,488,869.50 ROBINSONS RTL 86.6 90 86.6 86.6 86.5 86.6 1,720 148,863 PHIL SEVEN CORP SSI GROUP 1.09 1.1 1.1 1.1 1.09 1.1 349,000 382,440 WILCON DEPOT 27.7 27.9 28.15 28.2 27.7 27.7 1,123,200 31,243,065 APC GROUP 0.239 0.24 0.238 0.245 0.238 0.24 3,120,000 753,290 IPM HLDG 6.95 7 7 7 7 7 2,400 16,800 MEDILINES 1.12 1.13 1.13 1.16 1.12 1.13 2,077,000 2,350,170 PRMIERE HORIZON 0.57 0.58 0.54 0.62 0.53 0.58 30,197,000 17,468,150 SBS PHIL CORP 3.9 3.95 3.9 3.95 3.75 3.95 34,000 129,500 MINING & OIL ATOK 5.95 6.15 5.95 6.15 5.95 6.15 44,700 266,965 APEX MINING 1.77 1.78 1.79 1.86 1.78 1.78 20,793,000 37,778,810 ATLAS MINING 6.1 6.12 6.16 6.17 6.1 6.1 929,100 5,682,236 BENGUET A 5.29 5.33 5.29 5.29 5.29 5.29 73,000 386,170 DIZON MINES 5.25 5.5 6 6 5.49 5.49 1,500 8,472 FERRONICKEL 2.26 2.28 2.3 2.32 2.24 2.28 9,184,000 20,756,300 0.199 0.2 0.186 0.199 0.185 0.199 2,160,000 421,800 GEOGRACE 0.14 0.141 0.142 0.142 0.14 0.14 9,090,000 1,281,760 LEPANTO A LEPANTO B 0.139 0.142 0.141 0.144 0.141 0.142 1,710,000 243,640 MANILA MINING A 0.0098 0.0099 0.0099 0.01 0.0099 0.0099 31,000,000 309,400 MANILA MINING B 0.0098 0.011 0.01 0.01 0.01 0.01 12,000,000 120,000 MARCVENTURES 1.5 1.54 1.56 1.63 1.5 1.5 7,107,000 11,021,740 0.99 1.04 0.99 0.99 0.99 0.99 12,000 11,880 NIHAO NICKEL ASIA 5.99 6 6.06 6.07 5.93 6 11,980,800 71,808,137 ORNTL PENINSULA 0.83 0.84 0.84 0.86 0.83 0.84 902,000 764,290 PX MINING 5.85 5.87 5.85 5.94 5.8 5.87 1,612,300 9,449,726 SEMIRARA MINING 24.55 24.6 25 25 24.3 24.6 815,600 20,031,110 UNITED PARAGON 0.007 0.0073 0.0071 0.0071 0.0071 0.0071 8,000,000 56,800 ACE ENEXOR 33.35 33.9 33.95 34.5 32.65 33.9 300,800 10,119,590 ORNTL PETROL A 0.011 0.012 0.012 0.013 0.011 0.012 622,100,000 7,463,800 0.012 0.013 0.012 0.013 0.012 0.012 170,100,000 2,092,500 ORNTL PETROL B PHILODRILL 0.0096 0.0097 0.0095 0.0096 0.0095 0.0096 50,000,000 479,100 PXP ENERGY 6.04 6.08 6.08 6.09 5.99 6.08 124,200 754,671 PREFFERED AC PREF B1 515 525 515 525 515 525 2,130 1,113,175 AC PREF B2R 512 521 520 520 520 520 2,000 1,040,000 BRN PREF A 103.2 104 103.3 103.3 103.3 103.3 2,500 258,250 CEB PREF 41.2 41.25 41.2 41.25 41.2 41.25 70,700 2,916,350 DD PREF 101 101.1 101.9 101.9 100.8 101.1 26,620 2,685,539 EEI PREF A 102.1 104.9 104 104 104 104 15,000 1,560,000 EEI PREF B 107 107.8 107 107 107 107 49,200 5,264,400 102.6 104.5 102.5 102.5 102.5 102.5 2,400 246,000 FGEN PREF G GTCAP PREF A 1,010 1,032 1,010 1,010 1,010 1,010 630 636,300 JFC PREF A 1,000 1,009 1,009 1,009 1,009 1,009 10 10,090 JFC PREF B 1,009 1,015 1,015 1,015 1,015 1,015 5 5,075 MWIDE PREF 2A 99 99.95 99 99 99 99 500 49,500 MWIDE PREF 2B 101 101.2 101 101 101 101 13,500 1,363,500 MWIDE PREF 4 99.7 100 100 100 100 100 5,590 559,000 PNX PREF 3B 101 102.5 102 102.5 102 102.5 1,050 107,125 PNX PREF 4 999 1,004 1,000 1,005 999 1,005 300 300,940 PCOR PREF 3A 1,050 1,060 1,060 1,060 1,060 1,060 20 21,200 SMC PREF 2F 79 79.6 79.2 79.2 79.2 79.2 2,270 179,784 SMC PREF 2H 76.5 76.6 76.5 76.5 76.5 76.5 2,550 195,075 SMC PREF 2I 79.1 79.5 79.4 79.4 79 79 97,300 7,700,080 SMC PREF 2J 76.5 77.1 76.5 77.1 76.5 77.1 804,400 61,537,200 PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 13.16 13.5 13 13.48 13 13.44 84,500 1,129,266 GMA HLDG PDR 14.32 14.46 14.4 14.4 14.28 14.32 60,000 860,410 WARRANTS TECH WARRANT 0.92 0.93 0.92 0.95 0.9 0.93 630,000 575,410

-9,530 28,854,545 -2,611,347 -931,484 -8,100 -157,540 -741,032 -965,901 -33,783,345 18,996,268 -6,600 8,029,978 -26,835,200 10,503,170 59,154 -243,000 4,960 37,456,430 -491,364 6,919,450.50 -72,590 -28,000 266,628 158,390 1,572,950 8,404 -1,321,320 261,810 -3,369,710 -38,039,730 -5,350,169 -17,149,060 46,500 715,140 103,429,850 -35,891,190 -14,881,550 10,650 -36,114,905 7,205,834 316,990 -150 -1,175,925 -86,630,565 19,040 -21,810 3,400 -9,324,600 -21,600 814,000 7,300 766,120 811,793.00 -4,110 4,211,345 -4,341,163.50 51,046 1,100 -14,249,450 79,770 19,720 3,900 -610,720 -2,990,273 -3,902,330.00 183,530 -141,930 12,101,543.00 -25,500 -270,319 -2,771,895 -596,850 -247,200 -1,040,000 -2,887,500 -1,950,480 459,000 -1,008,380 7,200 -

SMALL & MEDIUM ENTERPRISES

ALTUS PROP HAUS TALK ITALPINAS KEPWEALTH MERRYMART XURPAS

18.44 1.49 1.08 2.85 2.16 0.53

18.9 1.5 1.09 2.9 2.17 0.54

EXHANGE TRADE FUNDS

FIRST METRO ETF

110.9

111.1

18.8 1.5 1.07 2.9 2.16 0.4

18.96 1.51 1.1 2.9 2.19 0.57

18.4 1.48 1.05 2.9 2.12 0.4

18.9 1.5 1.08 2.9 2.17 0.53

44,200 22,429,000 510,000 13,000 2,145,000 80,210,000

820,534 33,444,310 545,160 37,700 4,624,380 41,039,750

-1,313,650 30 447,550

110.5 111.1 110.2 110.9 9,050 1,001,912 125,979

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Banking&Finance

BIR East Makati beats Dec ’21 collection goal

HE Bureau of Internal Revenue (BIR) East Makati City (Revenue District Office 47), headed by its Revenue District Officer Rufo B. Ranario, has exceeded by nearly half its collection target for December 2021. This is based on figures from the consolidated collection report from BIR Revenue Region 8-A Makati City Collection Division for the period of December 1 to 31, 2021, and a copy of which the BusinessMirror obtained. “We’re good; we have an increase in our collections,” Ranario told the BusinessMirror. According to the BIR official, RDO 47 collected about P2.91 billion, surpassing by 45.68 percent its revenue target of roughly P1.99 billion for December 2021. RDO 47’s December tax collection was also 55.56-percent higher than the P1.87 billion it collected in December 2020. RDO 47’s cumulative collection

also exceeded its full-year 2021 target of roughly P25.69 billion by 11.62 percent as the BIR unit collected about P28.67 billion for the period of January to December 2021. “Tax collections started picking up in the third quarter of 2021, as economic activity increased and lockdowns were eased,” Ranario told the BusinessMirror. The web site of the local government unit (LGU) said Makati City is among the top three income grossing LGUs of the country, ranking first from 2005 to 2010. For the period 2006 to 2011, the city continued to register an increasing pattern in its revenue as shown by the income, according to the LGU website. “Total revenues increased from P8.416 billion from [sic] P 10.751 billion in 2011, which represents a growth of 5.9 percent.” In 2011, the Makati LGU said the total value of real property units was at P176.97 billion.

BusinessMirror

By Bernadette D. Nicolas

@BNicolasBM

HE national government shelled out P1.13 trillion for debt service as of end-November, with amortization outpacing interest payments, data from the Bureau of the Treasury showed. The debt service bill for January to November 2021 soared by 27.6 percent from P888.69 billion recorded in the same period in the previous year. This is also equivalent to 87.6

Securing the life sciences ecosystem

PHL debt service soars 27.6% from Jan to Nov ’21 to ₧1.13T

Perspectives ODAY’S typical enterprise is being inundated with vast volumes of confidential data and intellectual property traversing its ecosystem. Of course, understanding the flow of data moving across a supply chain has always been critical to gauging supply chain risk. But in today’s ecosystems, those data flows are becoming increasingly complex and opaque. Amid rapid advances in technology, the variety and number of threats and vulnerabilities to business data is growing, and amongst that, third party incidents are on the rise. As challenging as it is today, identifying ecosystem risk is critical to understanding the potential threat to your organization. Clarity on the following is critical: Your organizations place in the ecosystem. The organization must understand its internal and external environments and determine its mission-critical information assets, where they exist and how they flow across this system. This will enable a risk-based approach that’s solidly focused on protecting all critical information. Data sharing. With threats and risks in this model being significantly different, one supplier’s impact on clients, upstream or downstream, can now mean a loss of service, integrity or data. These data supply chain dependencies mean we need to aggressively understand connectivity, data sharing and relationships with every ecosystem partner. This includes understanding the ongoing level of data sharing between businesses and suppliers. Smart ecosystem stakeholders are now having deeper conversations about fourth parties and concentration risk, for example. Cloud security. The ongoing migration to cloud services, which has been dramatically accelerated in response to the pandemic’s disruptive impact, also increases the potential for internal and external threats. Attacks compromising business email, for example, can now more easily invade clients and suppliers. But the shift to cloud infrastructure has put businesses in an unusual position. The ability to gain assurance of major cloud providers’ security architecture remains limited, yet business users are accountable for lost or compromised data if cloud services are breached. In general, the cloud has modified the risk landscape in the supply chain and is forcing businesses to be creative in their methods to gain assurance or re-evaluate their risk appetite. Given the proliferation of cloud hyperscale providers, the issue of cloud security risk may be something that only a regulator can address at a systemic level. Intersection of risks. In addition to cyber and data risk, organizations are looking more closely at the intersection of several different types of risks in the ecosystem. For instance, does financial

Editor: Dennis D. Estopace • Monday, January 24, 2022

resilience potentially indicate future cyber risk? Advanced analytics and machine learning models are starting to identify such potential risk scenarios and reveal significant potential issues downstream. As risk models, better access to ecosystem data, and improved technology become part of the third-party security toolkit; management will enhance their risk visibility and ability to make cyber riskenabled decisions. The ability to innovate and collaborate in the new reality requires an ability to more easily integrate data and suppliers into the ecosystem without significant disruption. Data drives innovation in the modern economy, and open architectures and open application programmable interfaces (APIs) are at the heart of this. Acting as the bridges that connect organizations to third parties and their wider ecosystems, APIs have become crucial for the future of commerce. While innovation and collaboration influence our ability to secure the ecosystem, consumer data’s vastly increased flow and accessibility are also creating significant new privacy challenges. Amid growing privacy, security and ethical concerns and regulatory scrutiny in the wake of the pandemic, the importance of understanding your data environment becomes a central focus. Nowhere does this play out in the privacy arena more clearly than in the area of data subject rights (DSR). This new ecosystem driven cyber environment will likely require improved legal and regulatory frameworks that reduce agency considerations that often lead to lower visibility and increased liability. Several federal governments have started to break down silos hindering speed in cyber adoption and visibility. Building machine readability, shareability and risk-driven models into our assessments are also beginning to help. Organizations should look to some of these models commercially and enable better ecosystem frameworks to support interoperability, reduced liability, and lower regulatory hurdles to meet security objectives. By working together, building a risk management, regulatory, privacy, resilience, and technology framework, we can continue to evolve our ecosystems and reduce risk. We look forward to a new reality that allows much-needed innovation and progress to move at the speed of business.

The excerpt was taken from the KPMG Thought Leadership publication “Securing the life sciences ecosystem.” © 2022 R.G. Manabat & Co., a Philippine partnership and a member-firm of the KPMG global organization of independent member-firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. For more information on KPMG in the Philippines, you may send a message via social media or visit www.home. kpmg/ph.

percent of the programmed P1.29 trillion for debt service by the end of 2021. Of the total debt service as of end-November, P810.3 billion or 71.45 percent was used to pay for

domestic debts. Amortization payments also took the bulk of debt service during the 11-month period, amounting to P732.06 billion or a 37.2 percent-jump from P533.61 billion in the comparable period in 2020. Likewise, interest payments as of end-November 2021 hit P402.12 billion, rising by 13.2 percent from the previous year’s level at P355.08 billion. For November alone, debt payments of the national government tripled to P81.24 billion from only P26.79 billion in the same month in 2020. Amortization payments during the month also grew by more than

sevenfold to P50.02 billion from P6.75 billion. Meanwhile, interest payments soared by 55.83 percent to P31.22 billion from P20.04 billion. While the national government’s outstanding debt was trimmed to P11.93 trillion as of end-November, this was still beyond the government’s expected level of P11.73 trillion. The debt stock dipped by P39.7 billion or 0.3 percent from P11.97 trillion as of end-October mainly due to the net redemption of domestic securities and favorable foreign exchange rates. However, this was still a 17.7-percent surge from P10.13 trillion as of end-November 2020.

Govt asked to suspend fuel tax amid price hike By Butch Fernandez @butchfBM

HE Duterte government was asked Sunday to promptly suspend oil excise taxes to cushion the impact of another looming round of oil price hikes expected this week. Opposition Senator Francis N. Pangilinan aired the appeal over the weekend, suggesting the tax suspension will be a big help not just to drivers, farmers and fishermen. On Sunday, Pangilinan renewed calls for President Duterte to “immediately suspend excise tax on oil products to ease the burden and shock of another oil price increase.” At the same time, the senator revived an earlier appeal to the Duterte administration to “give fuel subsidy to heavily affected sectors such as transport, farmers, fisherfolk and the basic commodity-producing sectors.” He noted that by Tuesday, prices of diesel are projected to

increase by P1.80 to P1.90 per liter, while gasoline will increase by P1.40 to P1.50 per liter, as the Unioil Philippines said in a forecast, reminding that Tuesday’s projected increase is “the fourth straight week local oil companies are raising pump prices” pointing to a 7-year high peak in the global oil prices. The lawmaker lamented that “whatever upward adjustments in oil prices have immediate impact on price hikes of food and basic commodities,” reminding that “the poor are first to feel the spike in prices.” (“Anuman pagtaas sa presyo ng langis ay may immediate impact sa pagtaas ng presyo ng pagkain at basic commodities. Ang mahihirap ang makakaramdam agad-agad ng pagsipa ng presyo ng mga bilihin.”) Citing Department of Energy figures, he noted that for the entire 2021, prices had a total net increase of P17.65 per liter for gasoline, P14.30 per liter for diesel and P11.54 per liter for kerosene. Pangilinan, in turn, proposed

that priority should be given to extending fuel subsidy to drivers of public utility jeepneys, buses and tricycles, as well as farmers and fishermen as the big chunk of their expenses goes to buying crude oil. (“Dapat unahin ang pagbibigay ng fuel subsidy sa mga tsuper ng jeepneys, buses, tricycles. At gayun din sa mga magsasaka at mangingisda. Malaki bahagi ng gastos nila ay napupunta sa pagbili ng krudo.”) Pointing out that the suspension of excise tax on oil products will immediately mitigate the negative impact of oil price surge, Pangilinan said: “Bababa ang presyo ng krudo at iba pang fuel products kapag sinuspinde ang excise tax on fuel prices.” He added: “Sana huwag ng magpatumpik-tumpik ang gobyerno sa pagbibigay ng cash grants o cash subsidy sa mga tsuper ng transport sector. Isama na rin ang mga magsasaka at mangingisda na tiyak na apektado ng pagtaas ng presyo ng fuel sa Martes.” [I hope the government does

not slack off in providing cash grants or cash subsidies to drivers in the transport sector. Also include farmers and fishermen who will definitely be affected by the fuel price hike on Tuesday.] This, as Pangllinan cited estimates “that 70 percent of the total expenses of fishermen is cornered by fuel used in running their fishing boats,” lamenting little is left to take home. “Wala na nga halos kita ang magsasaka at mangingisda ngayon, tapos sisipa pa ang presyo ng fuel. Dagdag na kalbaryo at pahirap ito sa kanila,” Pangilinan said. “In the end, tayong lahat ay tatamaan ng hambalos ng fuel price increase. Lalo itong magdudulot ng gutom at pahirap sa gitna ng pandemya.” [Farmers and fishermen have almost no income now; and then the price of fuel will kick up: more hardships for them, ”Pangilinan said. “In the end, we will all be hit by the fuel price increase. It will further cause hunger in the midst of a pandemic.]

SSS releases ₧3.3B in benefits to Covid-hit members

HE Social Security System (SSS) recently announced it has released around P3.3 billion in sickness benefits to nearly 400,000 members who have contracted Covid-19. In a statement, the SSS said that 399,455 members have availed of the said benefit from January to November last year. Covid-hit members may avail sickness benefits or daily cash allowance paid for the number of days that a member cannot work due to sickness or injury, according to the state-run pension fund manager. “We are aware that many of our members are getting sick right now. Some of them even got infected by the current Omicron variant. We want to assure them that SSS is providing them with sickness benefit to augment their lost income,” Ignacio said. Eligible members must have paid at least three monthly contributions within the last 12 months prior to the semester of sickness or injury, may be confined either in a hospital or at home for at least four days, has used up all his current company sick leaves for the current year and has notified his employer regarding his sickness or injury. Employed, self-employed, voluntary and overseas Filipino worker (OFW) members could avail of the sickness benefit which is granted up to a maximum of 120 days in one calendar year to qualified members. For those members who contracted Covid-19, they must pro-

vide a positive Reverse Transcription Polymerase Chain Reaction (RT-PCR) test. The daily cash allowance is equivalent to 90 percent of the member’s average daily salary credit (ADSC). For example, if the total of member’s six highest monthly salary credit (MSC) for the 12 months is P96,000, he will have an ADSC of P533.33 and 90 percent of his ADSC will be P480, which is his daily sickness allowance (DSA). Then, multiply the DSA or P480 by the approved number of days (example ten days), to get the member’s total sickness benefit which is P4,800. SSS has also extended the filing period for the sickness notifications and sickness benefit claims of members and employers. Members have 60 calendar days after the lifting of the community quarantine to submit their Sickness Notification Forms of their home confinement to their employers while employers have 60 calendar days after the receipt of the notification form from the employee to submit this to the SSS. If the country is still on community quarantine on the last day of submission, the employer may still submit the said form within 60 days after the lifting of the community quarantine. Under normal circumstances, employers should submit this form to the SSS within five calendar days after receiving it from their employees. For self-employed, voluntary

and OFW members, they can submit their Sickness Benefit Application Forms for their home confinement to SSS within 60 calendar days after the lifting of the community quarantine. Amid the rise in Covid-19 cases, SSS once again urged its members to use its online services. Employers may file their Sickness Benefit Reimbursement Applications (SBRAs) using their My.SSS accounts. Before they could use the online facility, employers must have a registered My.SSS account and enrolled disbursement account in the SSS “Disbursement Account Enrollment Module,” or Daem. They should also have an SSSapproved sickness notification of their employees and they should have paid in advance the sickness benefit to their employees. Employers must log in to their My.SSS account, proceed to the EServices tab and click on “Submit SS Sickness Benefit Reimbursement Application [SBRA].” The system shall display all sickness notification of employees approved by the particular employer. After this, the employer shall select the claim reference number from the list and then, click proceed. Employer must fill out the necessary additional information and tick the certification checkbox to certify that the information provided is true and correct and that the amount of benefit was paid in advance to the employee in accordance with the Social Security Law before click-

ing submit and OK. SSS will send a notification to the registered email address of the employer stating that the application was submitted successfully with the transaction details of their reimbursement application and at the same time email notification shall also be sent to the employee for the confirmation of advance payment of sickness benefit. Employee is given seven working days to confirm that the amount of sickness benefit was advanced by the employer. Failure to confirm within the given period or opted to click “I do not confirm” shall mean rejection of the filed SBRA by the employer. For members, proceeds of the approved sickness benefit payment will be released through the member’s Unified Multipurpose Identification (UMID) card enrolled as an Automated Teller Machine (ATM) card or through their disbursement accounts in participating banks under the Philippine Electronic Fund Transfer System and Operations Network (PESONet). For employers, proceeds of the sickness reimbursements shall be credited to their enrolled disbursement bank account enrolled in DAEM. “We want to remind the employers that under Republic Act 11199 or the Social Security Act of 2018, they should pay in advance the approved sickness benefit of their employees which is one of their primary obligations,” Ignacio said. Bernadette D. Nicolas

Explainer BusinessMirror

B4 Monday, January 24, 2022

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Why fear of 5G halting flights has faded

AN Emirates jetliner comes in for landing at the Dubai International Airport in Dubai, United Arab Emirates, December 11, 2019. Airlines across the world, including the long-haul carrier Emirates, rushed Wednesday, January 19, 2022, to cancel or change flights heading into the US over an ongoing dispute about the rollout of 5G mobile phone technology near American airports. AP/Jon Gambrell

By The Associated Press

HE rollout of new 5G wireless service in the US failed to have the muchdreaded result of crippling air travel, although it began in rocky fashion, with international airlines canceling some flights to the US and spotty problems showing up on domestic flights. Airline industry officials say the decision by AT&T and Verizon— under pressure from the White House—to delay activating 5G towers near many airports has defused the situation. The delay is giving the Federal Aviation Administration more time to clear more planes to operate freely around 5G networks. On Thursday, the FAA said it had granted new approvals that will allow an estimated 78 percent of the US airline fleet to make landings even under low-visibility conditions at airports where the new, faster wireless service has been turned on. That still leaves about one-fifth of the fleet vulnerable to being

prevented from landing at some airports during bad weather, but that chunk is certain to shrink. The CEOs of American and United say they don’t expect any major disruptions to flights. Here is a rundown of what happened.

What’s the concern all about?

Cellphone companies have been rolling out next-generation 5G service for a few years, and this latest slice of it, the so-called C-Band, helps make AT&T and Verizon more competitive with T-Mobile. It promises faster and more stable wireless networks. But 5G is still mostly promise and less actual applications. For now, it lets you

download a movie much faster. But the telecommunications industry is touting it as critical for autonomous vehicles, modern manufacturing, smart cities, telehealth and other fields that would rely on a universe of Internet-connected devices. The concern comes from the fact that this latest bit of 5G operates on part of the radio spectrum that is close to the range used by aircraft instruments called radio altimeters, which measure how high aircraft are above the ground. The issue was highlighted in a 2020 report by RTCA, an aviation research group, prompting pilots and airlines to sound alarms about possible radio interference that could jeopardize safety. The telecom industry, led by trade group CTIA, disputes the 2020 report and says 5G poses no risk to aviation.

How many flights?

Why did airlines cancel some flights to the US This week?

Is this a problem only in the US?

International airlines canceled some flights that were scheduled to operate just as the new networks went live. They feared not being able to land at their destinations under 5G-related restrictions imposed by the FAA.

Airlines canceled more than 350 flights on Wednesday, according to FlightAware. That sounds like a lot, but it’s just 2 percent of all scheduled flights—and it’s likely most of them got scrubbed for other reasons. For context, there were nearly 10 times as many cancellations on January 3, when airlines struggled with winter weather and large numbers of employees calling in sick with Covid-19.

IS THE PROBLEM SOLVED?

No, although the FAA says it is making progress by determining that more altimeters are adequately protected against interference from 5G C-Band signals. Planes with certain altimeters might never be approved, which means the operators would likely have to install new equipment to land at all airports. For the most part, yes. The FAA says there are several reasons why the 5G C-Band rollout has been more of a challenge for airlines in the US than in other countries: Cellular towers use a more powerful signal strength than those elsewhere; the 5G network

operates on a frequency closer to the one many altimeters use, and cell tower antennae point up at a higher angle. CTIA disputes the FAA’s claims. In France, 5G networks near airports must operate at reduced power to lower the risk of interference with planes.

Is the 5g rollout complete?

No. Verizon and AT&T activated about 90 percent of their 5G C-Band towers this week but agreed not to turn on those within a 2-mile radius of many airports. The companies still want to activate those towers, but there might not be agreement until the FAA is satisfied that an overwhelming portion of the airline fleet can operate safely around the signals.

What companies are involved in the issue?

Besides the two big telecommunications companies, the list includes aircraft makers Boeing and Airbus and altimeter subcontractors Collins, Honeywell and Thales. Then there are the airlines, whose dire warning this week of widespread flight cancellations added to pressure on the telecommunications companies to delay

activating this type of 5G service around airports.

Whose side is the government on?

Both. The Federal Communications Commission, which conducted the $80-billion auction that awarded C-Band spectrum to Verizon and AT&T, says there is enough buffer between this slice of 5G and aircraft altimeters for safety. But the FAA and Transportation Secretary Pete Buttigieg took the airlines’ side in the dispute. They asked the telecom companies to delay their rollout around airports. Some experts say poor coordination and cooperation among the two federal agencies is as much to blame as any technical issues.

Why did it come to a crisis?

That should not have happened. The FAA and airlines had plenty of notice that C-Band was coming—it’s been talked about for years. They say they tried to raise their concerns but were ignored by the FCC. American Airlines CEO Doug Parker indicated he was happy with the resolution but not the process. “It wasn’t our finest hour, I think, as a country,” he said.

What is 5G? An electrical engineer explains By Prasenjit Mitra | Penn State

The Conversation

G stands for fifth-generation cellular network technology. It’s the technology that enables wireless communication—for example, from your cellular phone to a cell tower, which channels it to the Internet. 5G is a network service provided by telecommunications carriers and is not the same thing as the 5-GHz band on your Wi-Fi router. 5G offers an order of magnitude—10 times—more bandwidth than its predecessor, 4G. The greater bandwidth is possible because over and above low- and medium-frequency radio waves, 5G uses additional higher-frequency waves to encode and carry information.

Bandwidth is analogous to the width of a highway. The broader the highway, the more lanes it can have and the more cars it can carry at the same time. This makes 5G much faster and able to handle many more devices. 5G can deliver speeds of around 50 megabits per second, up to more than 1 gigabit per second. A gigabit per second connection allows you to download a high-definition movie in less than a minute. Does this mean no more bad cell connections in crowded places? The increased bandwidth will help, but just as increasing the number of lanes on highways does not always reduce traffic jams, as more people use the expanded highways, 5G is likely to carry a lot more traffic than 4G networks, so you still might not get a good connection sometimes. In addition to connecting your

phone and cellular-enabled laptop, 5G will be connecting many other devices ranging from photo frames to toasters as part of the Internet of Things revolution. So even though 5G can handle up to a million devices per square kilometer, all that bandwidth could be quickly used up and require more—a future 5.5G with even more bandwidth.

Flavors of 5G

A PASSENGER uses a laptop aboard a commercial airline flight from Boston to Atlanta on July 1, 2017. AP/Bill Sikes

5G can use low-, mid- and high-band frequencies, each with advantages and disadvantages. Lower-frequency waves can travel farther but are slower. Using higher frequency waves means information can travel faster but these waves can only go limited distances. Higher-frequency 5G can achieve gigabit-per-second speeds, which promises to render ethernet

and other wired connections obsolete in the future. Currently, however, the higher frequency comes at a higher cost and thus is deployed only where it’s most needed: in crowded urban settings, stadiums, convention centers, airports and concert halls. A type of 5G service, Ultra-Reliable and Low-Latency Communications, can be used where data needs to be transmitted without loss or interruption in service—for example, controlling drones in disaster areas. One day, after the technology is more robust, it could even be used for remote surgery. This article is republished from The Conversation under a Creative Commons license.Readtheoriginalarticlehere:https:// theconversation.com/what-is-5g-anelectrical-engineer-explains-173196.

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Editor: Gerard S. Ramos

• Monday, January 24, 2022

‘Immeasurable losses’

RIEF sucks. But as Kahlil Gibran says, “The deeper that sorrow carves into your being, the more joy you can contain.” n SIDNEY POITIER He was the first Black man (and Bahamian) to win the Oscar for Best Actor, for Lilies of the Field (1963), after being the first one nominated, for The Defiant Ones (1958). This accomplishment was paved by Black women: Hattie McDaniel, Best Supporting Actress winner for Gone With the Wind (1939) and Dorothy Dandridge, Best Actress nominee for Carmen Jones (1954). It was only in 2001 when another Black man, Denzel Washington, won Best Actor for Training Day. As the lone Black leading man in the racially tense 1960s, Sidney was under intense pressure. “It’s been an enormous responsibility. And I accepted it, and I lived in a way that showed how I respected that responsibility. I had to. In order for others to come behind me, there were certain things I had to do,” the trailblazing movie hero, also an icon of the civil rights movement, told Oprah Winfrey in 2000. Sidney was the last male among the American Film Institute’s “50 Greatest Screen Legends.” With his passing on January 6 at 94 of heart failure, the Italian goddess Sophia Loren is the last one standing. Pray for: Eva Marie Saint (97), Harry Belafonte (94), Tippi Hedren (92), Joanne Woodward (91), Gene Hackman (91), Clint Eastwood (91), Gena Rowlands (91), Glenda Jackson (85), Robert Redford (85). n BETTY WHITE I was one with the world who wished that “The First Lady of TV” would reach her 100th birthday this year. But the international treasure died after a stroke, on New Year’s Eve, at 99. During this pandemic, my panacea was re-watching The Golden Girls (along with The Graham Norton Show, especially if Jack Whitehall and Miriam Margolyes were guests; Family Feud; vintage Miss Universe; and trashy slasher films). I love The Golden Girls, the “sitcom that aged well,” maybe because Betty played Rose (“she wasn’t dumb; she was terminally naive”). It was also my mother’s name and Betty shared a birthday with my father, January 17. After her death, #thebettywhitechallenge of donating to animal shelters went viral. In a posthumous video post, Betty said, “I want to thank you all for your love and support over the years. Thank you so much and stick around.” Pray for: Bob Barker (98), Dick Van Dyke (96), Angela Lansbury (96), Gloria Romero (88), Caridad Sanchez (88).

n GASPARD ULLIEL As if the immense losses of the French-Canadian director Jean-Marc Vallée (Dallas Buyer’s Club, Big Little Lies) and the French-Mexican/ American ingenue Yvette Mimieux (Light in the Piazza) weren’t enough, French heartthrob Gaspard Ulliel died in a skiing accident on January 19. He was 37. He won the César Award for Most Promising Actor for A Very Long Engagement (2004), and Best Actor for It’s Only the End of the World (2017). In 2015, he was named a Knight of the Order of Arts and Letters in France. He was nominated for a César for his role as Yves Saint Laurent in Saint Laurent (2014), but was the face for 12 years of the men’s fragrance Bleu de Chanel. Gaspard, with the upcoming film More Than Ever and the TV series Moon Knight, is still part of a young generation shaping the future of French cinema. That’s why his peers are mourning his passing, among them the Oscar winners Jean Dujardin, who placed a black heart after writing “Gaspard” on his Instagram; Juliette Binoche, who wrote “Speech/Word is silver/Silence is golden/I think of him and his family’; and Marion Cotillard, “Gaspard/So much light and so much love emanated from you. How I loved knowing you… It’s such a pain to know you’re gone. I am thinking of everyone you loved and will always love you. Travel in peace.” Let’s pray for: Brigitte Bardot, Catherine Deneuve, Isabelle Adjani, Fanny Ardant, Anouk Aimée, Isabelle Huppert, Alain Delon, Timothée Chalamet, Lucas Bravo, Omar Sy, Olivier Martinez. n ANDRÉ LEON TALLEY Just as the launch of Vogue Philippines was announced to much excitement, the news of his passing, of a heart attack and Covid-19 complications, brought sadness to every fashionista. ALT, 73, as his Instagram declares, “was the larger-thanlife, longtime creative director at Vogue during its rise to dominance as the world’s fashion bible. Over the past five decades as an international icon, [he] was a close confidant of Yves Saint Laurent, Karl Lagerfeld, Paloma Picasso, Diane von Furstenberg, Bethann Hardison, Manolo Blahnik, and he had a penchant for discovering, nurturing and celebrating young designers.” ALT’s frenemy Anna Wintour says it best of the embodiment of Black Excellence: “It’s the loss of André as my colleague and friend that I think of now; it’s immeasurable. He was magnificent and erudite and wickedly funny—mercurial, too. Like many decades-long relationships, there were complicated moments, but all I want to remember today, all I care about, is the brilliant and compassionate man who was a generous and loving friend to me and to my family for many, many years, and who we will all miss so much.” Let’s pray for: Lyn Yaeger, Kate Betts, Grace Coddington, Suzy Menkes, Cathy Horyn, Robin Givhan, Colin McDowell. n VIRGIL ABLOH The visionary designer died on November 28, 2021, at 41, of cardiac angiosarcoma. His last collection as the menswear creative director at Louis Vuitton was shown on January 20 during Paris Fashion Week. Titled “Louis Dreamhouse”, it featured angels and breakdancers, with Naomi Campbell and Venus Williams

Sidney Poitier (THE ACADEMY); Betty White (@ BETTYMWHITE); Gaspard Ulliel (CHANEL); André Leon Talley (PHOTOGRAPHED BY JONATHAN BECKER); and Virgil Abloh (@ LVMH)

in attendance. “I don’t believe in gender, I believe in design,” Virgil stated in the show’s notes. In a press release, Sotheby’s announced its collaboration with Louis Vuitton to auction off 200 pairs of LV x Nike “Air Force 1” sneakers that Virgil originally created for the Spring/Summer 2022 men’s collection. Made from “precious calf leather embellished with Louis Vuitton’s emblematic Monogram and Damier patterns

with natural cowhide piping,” the limited-edition shoes come in an orange LV pilot made of Monogram Taurillon Leather. The bidding is from January 26 to February 8. Pray for: Valentino Garavani (89), Giorgio Armani (87), Vivienne Westwood (80), and all Filipino designers because in 2021, we lost so many: Rocky Gathercole, Alfonso “Boy” Guinoo, Ben Farrales, Arielle Agasang, Biboy Sario, Bea Bianca Mackey.

Beauty editor launches marine-based skin-care line

BEAUTY editor and columnist Kim Reyes Palanca is a member of the tightly knit community of beauty editors, writers, experts and enthusiasts in the Philippines. A wife and mom of two young boys, Kim has always been someone who I’ve always admired because of so many things, one of which is her approach to beauty. Kim recently introduced the Philippine beauty community to a skin-care line called Pure Culture, a marinebased microbiome-friendly beauty brand centered on

nurturing the Philippines ecosystems. Pure Culture is made in the Philippines from 100 percent natural ingredients. The sustainable brand is in ocean-friendly packaging and 1 percent of sales goes to rewilding Philippine oceans. “We are proud to be the first Philippine brand to be Safe Cosmetics Australia-certified,” said Kim. Among the ingredients that Pure Culture’s products contain are green caviar or lato (Ecocert COSMOS Natural certified), cica (Natrue certified), MicroSilver BG (Ecocert COSMOS Organic certified), New Zealand marine algae (Natrue certified), probiotics, vitamin C, niacinamide and hyaluronic acid. As someone with sensitive skin, I’m always on the lookout for good products that would work for me. So here are Pure Culture’s products and what I think of them: Wild Algae Super Tonic is a multi-use toner-andessence hybrid. You use it after cleansing to soothe and calm skin. It’s in face mist form but being very economi-

including pillows, robe, room shoes and stationery.

v Sweatshirts and jackets inspired by BTS’s songs “Boy with Luv” and “Love Myself”

PHOTO BY JULIANA MAXINE C. VASQUEZ

Dream space for BTS stans v

u A corner of the BTS pop-up in SM Megamall displays “Boy with Luv” merchandise

cal and mindful when using my beauty products, I spray this on my palms before applying it on my face. This contains MicroSilver and green caviar. The feel of this is light but not watery and once applied, has a slightly sticky feel that disappears in seconds. For the day, I use this after cleansing and before sunscreen application. For the evening, this is the second step after cleansing. Wild Algae Glow Up Serum with vitamin C and hyaluronic acid is my favorite from the line. The texture of this serum is still liquidy but thick. I use a drop on my face and neck after the tonic. Wild Algae Quench Creme is a moisturizing skin milk that’s very light in texture. This is best applied after the serum. I personally need something heavier but this is great for those who are intimidated by moisturizer and are using it for the first time. The Pure Culture skin-care line has been created for all skin-care types. For more information about it, follow @kimpalanca and @purecultureph on Instagram. Pure Culture will be launched in February.

WITH the dynamite success of the BTS pop-up store last year, SM Megamall will again thrill army members with BTS Pop-up: Space of BTS in Metro Manila at the Upper Ground Floor of SM Megamall Building B. The BTS Pop-up: Space of BTS, which will run until March 31, showcases new official BTS merchandise ranging from apparel, stationery and household items. It highlights exclusive items inspired by some of BTS’s greatest hits such as “Mic Drop,” “Boy with Luv,” “Idol,” “DNA” and “Dynamite.” Clothes and accessories with the BTS name and logo design are also available. In between shopping, fans can also take the opportunity to have a full BTS Pop-up: Space of BTS experience with a photo opportunity in front of the purple backdrop with the signature “I Purple You” neon signage. In light of the Covid-19 situation, advance registration is required through the online booking platform Morningkall to limit the number of people inside the store to ensure proper physical distancing between guests and staff. Slot bookings can be made through https://2022btspopupasia. morningkall.com every Wednesday at 1:00 pm. One slot is good for two persons including the one making the reservation. Only one booking can be made per account per day. To further ensure the safety of its patrons, wearing of face mask is mandatory at all times. Also, guests with a temperature of 37.5 and higher will be denied entry.

B6 Monday, January 24, 2022

Kaspersky EDR wins highest grade in SE Labs test

Pacific Cross inaugurates new office space in Rockwell, Makati

PACIFIC Cross President and CEO Victor Tanjuakio (center), together with Chief Operations Officer Rhea Vizcarra (left) and Pacific Cross Group Deputy CFO Jef Lacson (right) in the formal opening of the new Pacific Cross local headquarters at 8 Rockwell.

S the country heads to the next normal, Pacific Cross, transfers to its new home in Rockwell, Makati. The leading medical and travel insurance provider is dedicated to continuously improve its services by offering modern, accessible, and better business spaces to all its clients and partners. Previously headquartered in Makati Avenue, the insurance company moves closer to its existing and potential clients in 8 Rockwell, making Pacific Cross services easily accessible and convenient for visiting customers. President and CEO Victor Tanjuakio headed the office blessing of all three new office floors, joined by Pacific Cross executives, officers and hybrid on-site

and remote set-up employees. According to Tanjuakio, the move was strategic to keep up with the times as it adjusts to the world changed by the pandemic. “We are committed to serving our clients better amidst the ongoing global health crisis and abiding by the government’s health initiatives,” the Pacific Cross President and CEO said. “We can achieve this by supporting customers and employees’ safety in our modern and refreshed client and partner center hub.” Apart from the office, the insurance company has kept all other communication lines open, such as hotlines, e-mail and social media, for all inquiries. A part of the Pacific Cross Group which operates in Southeast Asian

countries such as Thailand, Vietnam and Indonesia, Pacific Cross Philippines offers a wide array of medical and travel plans designed to give clients peace of mind. In addition to insurance plans for individuals and families, Pacific Cross is also working to strengthen its offerings to groups, corporate accounts and the middle-class sector. This aim includes further diversifying Pacific Cross's product portfolio while staying on the pulse of the target market on health, travel, HMO and second-layer medical coverage. Visit Pacific Cross on the 2nd, 8th, and 18th Floors of 8 Rockwell Building, Makati City. Discover which Pacific Cross insurance plan is best for you online at www.pacificcross.com.ph or e-mail info@pacificcross.com.ph

BALAI BERDE Program wins big in the 2021 Asia-Pacific Housing Forum Innovation Awards

NHMFC’s Princess Riza Ong (upper left) and Ms. Cecile Malota (lower left) respond to each question from the jury panel during their virtual pitch presentation for the BALAI BERDE Program in the recently held Asia-Pacific Housing Forum 2021.

HE National Home Mortgage Finance Corporation’s (NHMFC) BALAI BERDE Program bagged home the Sustainable Consumption and Production Award (SCP Award) under the Public Policies Category in the recently held Asia-Pacific Housing Forum 2021. BERDE stands for Building Eligible, Resilient Dwelling for Everyone. It is the newest program of NHMFC under its Housing Loan Receivables Purchase Program (HLRPP), which was launched in March 2021. In addition, the BALAI BERDE Program was also selected as one of the Top 4 finalists out of fifty (50) contenders under the same category for the AsiaPacific Housing Forum Innovation Awards 2021. The other categories for the Innovation Awards are ShelterTech

and Inspirational Practices. The evaluation of the SCP Award is based on the scores achieved by each initiative under the Sustainability Development Goals (SDG) criteria. The highest scorer in this criterion across the three categories would receive this award. The grand premiere held in December 1, 2021 included the virtual pitch competition, where the Top 4 programs from each category presented to a jury panel and live audience. From these finalists, one program would also win the SCP Award sponsored by the EU-funded SWITCH-Asia SCP Facility. Cecile Malota, Head of NHMFC’s BERDE Unit, led the pitch presentation for the BALAI BERDE Program together with Princess Riza Ong, OIC-Corporate Executive Officer of NHMFC’s Fund

and Asset Management Group. Both Misses Malota and Ong are Certified BERDE Professionals. In her message during the awarding ceremony, Ms. Malota urged the support of the primary market – the developers, originators, borrowers and stakeholders to solve the housing backlog while preserving the environment. “We need to immediately and drastically change how we design, build, use and deconstruct buildings to make it sustainable, environmentfriendly and disaster-resilient homes,” she stressed. “To the public sector delegated to be socially and environmentally responsible and as a global citizen, we need to face the future together in building eligible resilient dwellings for everyone, not just for ourselves, but for our future and the future of generations who will succeed us,” she added. Under the Public Policies Category, the BALAI BERDE Program was shortlisted with (1) the development of affordable lowincome mortgage market of Pakistan Mortgage Refinance Company, (2) Chief Ministers’ Slum Development Program “Basera” of the Government of Punjab, India, and (3) the JAGA Mission of the Housing and Urban Development Department of the Government of Odisha, India. The jury panel for the Public Policies Category is composed of Ajay Suri, Paulette D. Liu, Dr. Marie Lisa M. Dacanay, Puja Sawhney and Zinaida Fadeeva.

ASPERSKY EDR has achieved the highest AAA award in SE Labs’ Enterprise Advanced Security test (previously known as Breach Response Test). The solution was noted for its ability to detect complex targeted attacks, track malicious behavior from the beginning to the end of an attack and generate no false positive results. During the evaluation, the product was exposed to the tools, techniques, and procedures used by advanced threat groups. With cyberattacks becoming more sophisticated and endpoints still the main target for cybercriminals, the importance of reliable endpoint protection cannot be overestimated. However, judging the effectiveness of these solutions is not an easy task, and many factors, such as the ability to detect, relevancy, and accuracy are at play when assessing how well the product will help during a real attack. To evaluate Kaspersky EDR capabilities, SE Labs’ engineers tested the product under a range of complex attacks similar or identical to those used by Dragonfly and Dragonfly 2.0, FIN7 and Carbanak, Oilrig, and APT29 threat groups. The solution’s performance was tracked at all major attack stages, from delivery to escalation and lateral action. Testers behaved as real adversaries, probing targets using a variety of tools, techniques, and vectors before attempting to gain access to the infrastructure. After that, they tried to complete the attack goal, including stealing information, damaging systems and connecting to other systems on the network. The test also considered the EDR’s ability to correctly identify legitimate applications and behavior, and measured any false positive detections or other sub-optimum interactions. According to the independent laboratory, Kaspersky EDR detected every targeted attack

and tracked each of the hostile activities that occurred during the test. Even better, it also detected in-depth insights, capturing details as each threat proceeded down the attack chain from the initial introduction to the system through its execution and subsequent behavior by the attacker. With 100 percent of attacks detected, the solution also showed outstanding results in classifying legitimate applications and URLs with a 100 percent legitimate accuracy rating. Based on the total sum of the evaluated criteria, Kaspersky Endpoint Detection and Response finished with 98 percent in the total accuracy rating and was awarded the highest level of estimation – the AAA Award. “Detecting breaches is an extremely challenging task. Detecting each stage of an attack, without making mistakes is far tougher. Kaspersky has done a great job in providing clear and deep insight into a range of advanced attacks,” said Simon Edwards, Chief Executive Officer at SE Lab. “We are proud that our EDR solution managed to repeat the success of the Kaspersky Anti-Targeted Attack platform rewarded with an AAA rating by SE Labs in 2019 and that it showed amazing results during one of the most challenging cybersecurity tests. Our team endorses SE Labs’ holistic testing approach that involves the usage of real-world scenarios, validation of the performance at each stage of the attack, and transparent evaluation benchmarks. We are looking forward to participating in further SE Labs’ tests to reaffirm that our products provide high-grade protection even against the most advanced threats,” comments Alexander Liskin, Head of Threat Research at Kaspersky.

Security Bank Foundation restores earthquakedamaged classrooms in Zamboanga City

SECURITY Bank Foundation’s two-storey, eight-classroom school building in Canelar Elementary School is ready to welcome students when they resume their face-to-face classes.

ECURITY Bank Corporation’s Corporate Social Responsibility (CSR) arm Security Bank Foundation, Inc. (SBFI), recently completed repair of its 2014-donated twostorey, eight-classroom school building in Canelar Elementary School (CES), Zamboanga City, which was damaged by the earthquake in Mindanao during the latter part of 2019. The repair included the patching of hairline cracks on the building’s concrete surfaces, replacement of doors and window jambs infested by termites, de-rusting of railings, replacement of aged roofing sheets and gutter portions, full repainting, and general check-up of wiring and plumbing systems. CES Principal Anna Liza Martin expressed her appreciation for Security Bank Foundation’s sustained commitment to assist their school. “It is not very easy to find donors who go beyond one time dole-outs and sustain their programs. The school administration, teachers, learners, and their parents are grateful to have the Foundation as a community

partner. Security Bank Foundation’s repair project, despite the pandemic, inspires us all to do our best in nurturing our country’s future.” “We are not just a bank that concerns itself with sales but we are a bank that invests in what matters, especially for our communities. By helping the community, we can secure a shared better future,” said Yvette Cabaduna, Security Bank Zamboanga-Canelar Branch Business Manager. Major repair support for previously donated classrooms is a component of SBFI’s Build a School, Build a Nation Program. The initiative aims to address infrastructure facility needs of schools in areas where Security Bank operates while also providing complementary initiatives such as teachers’ training, as well as production and distribution of learning videos to improve learning outcomes. To know more about SBFI and its CSR initiatives, visit www.securitybank.com/ sustainability or Security Bank’s Facebook page at www.facebook.com/SecurityBank.

MERALCO EXPANDS ITS FPIP SUBSTATION. Meralco personnel work on the new 83 MVA transformer bank no. 3 located at its FPIP 115kV-34.5kV substation in the First Philippine Industrial Park, Santo Tomas, Batangas, resolving the critical loading of the first two banks due to the anticipated new and additional large load applications in FPIP Phase 1 and 2, such as Ibiden Philippines, Nestle Philippines, B/E Aerospace and Canon. The project will also help reduce technical system loss and improve system reliability in FPIP. Despite the continued implementation of community quarantine measures or the new alert level system throughout the country due to the COVID-19 pandemic, Meralco and its subsidiaries are continuously working hard to improve its distribution system in order to provide safe, adequate, and reliable electric service to its customers.

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Monday, January 24, 2022 B7

Slow and steady wins the race:

A Covid Diet Diary C PR Matters

By Margarita Locsin-Chan

Brand & Business: Globe customers raise P1.9M for Typhoon Odette survivors

OVID has changed the way we all live. For some, this has meant a renewed focus on our health. For me, it meant losing 40 lbs., changing the way I eat and doing what I stopped doing in the 1990s—exercise. Before Covid hit the news, I had already heard of the then “new” virus, being a habitual news reader. Being an obsessivecompulsive frequent traveler and at that time constantly f lying around the region with my gokarter son, I already equipped myself with anti-bacterial supplies, from my trusty mini spray bottles of Green Cross, to surgical masks on flights, causing people to give me strange looks whenever I would offer the person next to me to “clean” their seats and tables. The one thing I could not control however, was the state of my health, and so faced with this new risk, plus seemingly multiplying photos of my ever-ballooning body on social-media posts by friends, I decided to take my health into my hands, and it could not have come at a better time. The lockdown forced me to focus on the inside of my home, instead of the outside, where people who know callejera me would be. More importantly, it forced me to focus on the person I least cared about—me. My journey began at the start of 2020, when a sincerely concerned friend who had successfully halved her body just the year before introduced me to the lady who helped her lose weight. At first, I was skeptical. The moment she said it was a shake and supplement-based program, I replied that I had already heard about it and that I had tried similar programs, without much success. Undeterred by my negative comments, Charlene patiently went on to show me the standard presentation, and again, I winced, but what made an impact was when she said she would personally supervise me. Previously, products were just dumped on me, and I was left to fend for myself. This was something else, I thought. Charlene also showed me her own before-and-after photos. Her weight loss was incredible and her life journey, inspiring, so I thought, oh what the heck—and signed up. When I got home and announced my latest diet program, my entire family looked at me with doubt. I could see the thought balloons on top of their heads—oh boy, here she goes wasting money again! It turned out, having Charlene made all the difference. Pre-Covid, she would have me send her photos of my meals, even while on overseas trips, and she would religiously come to my house to weigh and measure me on weekends.

MANILA, PHILIPPINES — Globe customers have raised P1,925,284 worth of Globe and TM Rewards points to help survivors

November 2019 in the National Gallery

God knows I tried to evade her, especially after indulgent meals that I knew would ref lect instantly on her completely unforgiving digital scale. To my surprise, so long as I kept to the program—took my supplements as directed, followed (to the best of my ability) the portion control plate they provided, I would register a weight loss of a pound a week. When our lockdown began, Charlene pivoted and went online. The monitoring and weighins continued, and I just kept to the program. My goal was not overly ambitious. I wanted to see if I could drop 10 percent of my body weight, then 153 lbs., over the three-month program period. Thanks to the lockdown, I ate out less and even if we were constantly having food delivered and getting food presents, was able to portion my meals. I was also able to make better food choices as I had limited access to food. No mindless shopping. No thoughtless purchases. Everything with a reason and for good reason. Charlene was even naughty at times, sending me my favorite superstuf fed cook ies and cupcakes. I called her “the saboteur,” but what she wanted to teach me was that I could enjoy everything in moderation and still see results. There were days where I ate a cookie or cupcake a day and still at week ’s end, I was down a pound. There were of course some rules I had to adhere to, and I keep to most of them to this day. One is having protein at breakfast. Whereas I thought my old breakfasts were healthy—the traditional low-calorie toast and jam or granola and skim milk, I moved on to more protein-packed ones like eggs or pure peanut or almond butter on multigrain toast and overnight oats with nuts and seeds soaked in almond

of Typhoon Odette, sending critical aid to families reeling from the impact of the deadly December storm. The donations have been turned over to Globe’s partner organizations — the Ayala Foundation, GMA Kapuso Foundation, and Rise Against Hunger Philippines. Such support came at a crucial time when typhoon survivors needed life-saving aid, as Odette destroyed over 344,000 houses and damaged more than 1 million others. The destruction displaced over 58,000 families, leaving them straining for basic needs. A total of 406 people were killed, while

November 2021 in the National Gallery

milk or Greek yoghurt. Main meals were always portion-controlled. My plate would be little less than a quarter carb, a quarter meat protein, a quarter eggs, dairy, or plant protein (or half protein in general) and a third veg and/or fruit. Eventually I stopped using the plate as a guide and learned to eyeball the portions on my plate. Charlene tried to get me to change my diet and give up processed food—but me, a Pinoy, give up SPAM? No way! And longganisa? Double no way! And so, I basically lost weight enjoying all the food I loved within reason and in moderation. Being accountable to someone else, someone like Charlene who did not judge, but only encouraged, and her colleague Zan, who got me on her Telegram groups and would regularly send me testimonials and reading material to help keep me motivated, kept me in check and helped keep me going. The kind of positive reinforcement that Charlene and Zan provided me in what was the hardest part of the journe—that mid-point between fat and thin —empowered me. That others had gone the same way before me gave me the perseverance to push through with what seemed like an impossibility only a few weeks before—foodie me learning to live and be balanced. I learned about what were in my supplements and how these worked together to make my body better. I found that I was awake and ready to go after my morning pill pop, and relaxed and ready for bed after taking the ones for night. I started to notice changes in how I felt on a day-to-day basis. Three months on, and without working out at all, I reached my goal. I was stunned. What surprised me more was not only

1,265 were hurt and 65 remain missing. “ The devastation left by Ty phoon Odette called for a swift response. We are very grateful to our customers who are with us in this undertaking. The Rewards points that they donated will go a long way in helping step up humanitarian efforts to help as many people as we possibly can,” said Yoly Crisanto, Globe chief sustainability officer and SVP for corporate communications. Globe Rewards currently has 15 nongovernment organizations, charitable institutions, and foundations in its program roster, supporting several advocacies in line

the 15 lbs. weight loss, but that and my fat dropped by 1 percent, my visceral fat by 2 layers and my body age went from 61 to 57 years—all without me moving an inch. I was convinced THIS was the program for me, and so we —Charlene and I—kept the program going—this time sans the diet supplements, but still taking the same group’s multivitamins and daily anti-ageing (yes, I am middle-aged!) supplements. Inspired by my weight loss, which I hadn’t experienced in over a decade, I decided to give working out a try and so my dad, who could not believe his Little Lotta (showing my age and for those who don’t know who she is, Google—there are a few pics left online!) had finally done it, bought me a Xiaomi Walkpad. I started out doing 20 minutes a day at a snail’s pace of 4 kph. For someone who hadn’t worked out since the 1990s though, just staying on was a feat. I slowly upped the time, adding five minutes every few weeks, until I reached an hour at 4 kph. I also did not have rest days. I walk first thing in the morning every single day and I have not stopped walking since. I don’t have weekends or public holidays off. When my son was going in for an operation at 6:00 am, I woke up at 4:00 am and got my walk in. When I had a staycation at a hotel, I would jump out of bed at 5:30 am, as I did at home, and headed to the hotel gym for my walk. My walks are now my life’s non-negotiables. That was in September 2020. By April 2021, I lost 13 more pounds, through daily wa l ks and consistent portion control, but all the while enjoying all the glorious food Singapore has to offer. I was at a weight I had not seen since college. I kept on going and I knew

with the company’s vision towards national development and upliftment of lives. These include disaster relief, reforestation, child protection, hunger mitigation, education, animal welfare, marine biodiversity, mental wellness, and medical support. Through Globe Rewards, Globe and TM subscribers can provide support and malasakit to worthwhile causes in time of need within the safety of their homes. For Odette response, one of Globe’s major partners Ayala Foundation through its disaster relief and recovery efforts under the #BrigadangAyala program continues to provide food packs in heavily affected

that if I remained consistent, the weight would eventually drop off. I just needed to keep doing the right thing—and it did. By October 2021, I reached my goal, my weight in the 9th grade—officially 38 lbs. down—and today, I am at a flat 40 lb. weight loss and now working on maintaining my newfound body. My fat and visceral fat levels are all normal, and my body age is now lower than my actual age. How do I measure these? With two scales. Yes, two. I have an Omron and a Huawei. The Omron is less forgiving numerically weight-wise, but the Huawei shows no mercy when it comes to fat and muscle, so I average them both out. By weighing in, I am not only able to track my progress, but also to stop myself from losing it if I have over indulged. My personal mantra these days is to allow for indulgences, but to “never let a lamon [binge] linger.” I don’t believe in cheat days. In fact, I cheat every single day. If I want that cookie I’m going to have it, but I’m also going to cut down on the next meal. It’s all about balance. And finally, in the last three months, I discovered a new love —online workouts. On the sound and much appreciated advice of another well-meaning friend, I enlisted the help of a personal trainer, Coach Vest, who is an OFW like me and whose daily strength training and HIIT sessions, depending on what she feels will suit me that day (and after she’s stalked my Facebook account checking on what I ate the day before) have helped increase my muscle percentage and redefined my formerly skinny fat physique. Yes, I’m now mini-Popeye in drag. All in all, it’s taken me almost two years. This was no quick fix. I hit plateaus, I got disheartened, I pigged out more than a few times, but the one thing that remained constant was my determination to get to my goal—even if it was not instant—and my firm belief that, as cliché-ish as this sounds, slow and steady wins the race. PR Matters is a roundtable column by members of the local chapter of the United Kingdom-based International Public Relations Association (Ipra), the world’s premier association for senior professionals around the world. Margarita Locsin-Chan is an overseas Filipino in Singapore currently engaged in volunteer work with various organizations in the Philippines, Singapore and the United Kingdom. We are devoting a special column each month to answer the reader’s questions about public relations. Please send your comments and questions to askipraphil@gmail. com.

areas in partnership with the Ayala Group of Companies. Another partner is the GMA Foundation, which provides aid through the “Operation Bayanihan” program. The organization extends immediate relief and assistance to victims of disasters and calamities nationwide. Other donation partners that extend support to disaster survivors are ABS-CBN Foundation and the Tzu Chi Foundation. To date, relief efforts led by Globe and its partner organizations have now reached over 10,000 families in Palawan, Visayas, and Mindanao.

Sports

AN aggressive Mark “Magnifico” Magsayo dethrones American Gary Russell Jr.

BusinessMirror

ELBOURNE, Australia—After fending off four set points and being unable to convert the first six of his own, Rafael Nadal finally clinched a 28-minute and 40-second tiebreaker to get himself on course to secure a spot in the Australian Open quarterfinals for the 14th time. And now, after a 7-6 (14), 6-2, 6-2 fourth-round victory over fellow lefthander Adrian Mannarino on Sunday, Nadal is potentially just three wins away from a men’s record 21st Grand Slam singles title. “First set [was] very, very emotional,” Nadal said. “Anything could happen there. I was a little bit lucky at the end. I had chances, he had a lot of chances too.” Nadal will next play Denis Shapovalov, the 22-year-old Canadian who finished off a 6-3, 7-6 (5), 6-3 win over Olympic gold medalist Alexander Zverev on Margaret Court Arena less than an hour later to reach the last eight in Australia for the first time. Nadal is now tied with John Newcombe in second spot on the all-time list for most quarterfinals in Australia, one behind Roger Federer’s 15. It’s also the Spaniard’s 45th time into the last eight at

| Monday, January 24, 2022 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

‘MAGNIFICO’ WORLD CHAMP! By Josef Ramos

ARK “MAGNIFICO” MAGSAYO snatched Gary Russell Jr.’s World Boxing Council (WBC) featherweight belt in a 12-round fight that saw the Filipino displaying immense aggression and the dethroned American flashing a survival instinct characteristic of a true champion. Russell fought with only one effective arm, his left, after his right shoulder and arm were slowed down by Magsayo’s aggressive combinations. Magsayo won by majority decision with judges Mark Consentino and Henry Grant scoring it 115-113 each for Magsayo and Lynn Carter seeing the fight at the Borgata Hotel in Atlantic City, New Jersey, as a draw, 114-114. Renowed trainer Freddie Roach had to restrain his 26-year-old fighter from Tagbilaran City for being ag-

gressive after Russell turned tactical and warded off all of Magsayo’s potential lethal punches. “Coach Freddie [Roach] reminded me to stick to the game plan after they saw that I really wanted to knock him out because in my mind, I was bothered that I might lose in the scorecards,” Magsayo told BusinessMirror through internet call. “My corner told me not to rush it because he still has his footwork, speed and is a good fighter,” he said. “I hurt him in the third round with a lot of good shots and it was then that he couldn’t use his jab so I attacked him.” “That’s a little bit of an advantage because he only used one hand after that and that’s an opportunity for me to follow through with my punches,” he added. Magsayo stalked Russell all the way to the final bell with pressurepacked combinations and often times pushed the former champion to the

ropes. All Russell did was to create a distance to avoid further damages. Roach and his assistant Marvin Somodio told Magsayo to pour our everything he got in the 11th round when Russell could hardly defend and punch with his right hand. But the American kept his survival instinct and landed occasional left straights but they weren’t solid enough to hurt Magsayo. Magsayo also used his two-inch advantage at 5-foot-6 to sneak in stinging shots in Russell’s chin and body. “This is my dream since I was a child—to become a world champion. I am so proud,” said Magsayo said, who ended Russell’s six-year title reign and became the second Filipino to win a WBC featherweight title after Luisito Espinosa in 1995. MP Promotions President Sean Gibbons praised Magsayo’s performance, saying his ward had the fight tucked in from the opening bell. “Mark dictated the fight from the

Floro: Miller inspires future Winter Olympians

SA MILLER’S qualification in next month’s Beijing Winter Olympics is already a victory for the country, according to Team Philippines chef de mission to the Games Bones Floro. “Surely, Asa will inspire other Filipinos to aspire for the Olympics,” Floro told an online news conference dubbed “Together on Ice” on Saturday. “We may only have one athlete this time, but already a huge win as

Asa will be inspiring others to also achieve his level.” Floro also thanked the Philippine Olympic Committee (POC) headed by Rep. Abraham “Bambol” Tolentino, Bank of China, SM Supermalls, Philippine Skating Union, Philippine Ski and Snowboard Federation and The Embassy of The People’s Republic of China for their support to Miller’s campaign. “Our country is relatively young

Sky’s the limit for PCAP LAST Saturday, the Professional Chess Association of the Philippines (PCAP) opened its second season with the first matches of the All-Filipino Cup. It’s a nice accomplishment considering there were concerns, whispers and even rumors whether the league would mount a second season. It was purely hogwash. The All-Filipino Cup tipped off with 24 teams with three new ones taking over from three squads either opted to sit it out given concerns such as the super typhoon that hit the south and even liquidity. I’m not saying there aren’t challenges or even birth pains—yes, there were. But what new league isn’t without them? Even those such as the Philippine Basketball Association which is approaching its 50th year since its founding continuously experience them. I hosted the opening ceremony for the new season which also saw the best of the previous year given awards. And I cannot begin to tell you how gratifying it is to work with this league. No, I am not employed by the league. It’s just that I have covered them from the pre-draft day all the way to the end of the third conference. I can actually attribute that to a man I respect—Games

NADAL IN AUSSIE OPEN QUARTERS FOR 14TH TIME

in terms of winter sports, but with the achievements of the likes of Asa, continuous discoveries and cultivation of young athletes by Jim [Apelar] and Nikki [Cheng], and the world class ice facilities of the SM Supermalls, we are confident that many more winter Olympians are coming soon,” Floro said. Apelar is Miller’s coach while Cheng is the president of the Philippine Ski and Snowboard Federation.

and Amusements Board Chairman Abraham Mitra who got me to write about the fledgling new league. Mr. Mitra gave me a call one day and said, “Rick, with no basketball, volleyball and football played, why don’t you help PCAP. They could use your help.” And so I did. I met new people and came away making new friends. I played chess during my younger years. I cannot even say that I was good or bad at it. That was a different time with no Internet, no cable television and certainly far less distractions. Growing up in the 1970s and 80s saw my siblings and I undertake a variety of pursuits at our parents’ insistence— swimming, piano and guitar lessons, and perhaps, what I enjoyed the most—art lessons. Yes, I was quite good at it until I switched to baseball and football and formed my class band. And of course, discovered girls. So it was like a bit of a homecoming as I followed PCAP. It certainly was difficult because I had my online writing class concurrent to the Wednesday and Saturday PCAP games. I believe the league will only get better as it provides incredible opportunities for our chess players. Even the Reinforced Conference where foreign chess players join the teams, and the Open Conference that features guest teams, will certainly improve the competition and quality of the Filipinos. It gives young chess players something to aspire for. I love how it has a place for not only women players, but also seniors and homegrown players. They even had the Philippine Paralympic Team and young junior teams participate as guests. Now, that really helps grassroots development. Previously, the closest I got to work with our grandmasters was a photo exhibit where I assisted the great Bien Bautista in his photographic portraits of Eugene Torre and Joey Antonio. Since the first year of PCAP, I have had GM Banjo

very beginning, he took Gary very well and Mark never lost a round,” Gibbons said. “Mark didn’t go tactical and went aggressive. It was Gary who became tactical, he’s a slick southpaw. If he bangs with Mark, he’ll get a knockout for sure.” Magsayo hiked his unbeaten record to 24 fights with 16 knockouts, while the 33-year-old Russell Jr. suffered his second defeat in 33 fights.

PALACE HAILS MAGSAYO

MALACAÑANG described Mark “Magnifico” Magsayo as “a new source of national pride and honor.” “We are one with the Filipino people in celebrating the victory of Mark ‘Magnifico’ Magsayo when he dethroned Gary Russell Jr. to become the new WBC featherweight champion,” Acting presidential spokesperson Karlo Nograles said in a brief statement. “We thank Mark for giving pride and honor to the country and demonstrating to the world the courage, determination and perseverance of the Filipino boxer,” he added. With Samuel Medenilla The Beijing Games set from February 4 to 20 is the second straight Winter Olympics for the 21-year-old Miller. The Filipino-American will compete in men’s slalom and giant salmon scheduled from February 13 to 16. “Because we are a tropical country and we don’t have winter, to be able to join such a prestigious event is truly an honor for us all,” Cheng said. “In fact, the Philippines is the only country without snow that has been consistently sending snowboarders and skiers to the World Cup, World Championships and Olympics for the last 15 years.” Josef Ramos

RAFAEL NADAL is potentially just three wins away from a men’s record 21st Grand Slam singles title. AP

AN FRANCISCO—Confetti fell and Stephen Curry flexed. He danced and celebrated a January victory against the lowly Rockets as if it were a playoff game in May. Oh how the Golden State Warriors needed this one. Curry needed this one. His dependable, smooth shot abandoning him for much of the night again, Curry nailed a gamewinning 20-foot jumper from the top of the key as the clock hit 0.0 and the buzzer blared, scoring 22 points and sending the Warriors past Houston

Curry nails 20-ft game-clinching basket vs Rockets 105-103 on Friday. “It felt great,” Curry said. “The way the whole last 48 hours have been with the way we played grinding out last night, going overtime, losing, the disappointment with that and then coming into this game, the back and forth, just grind-it-out mentality we had, the resilience we showed to give ourselves a chance the second half was impressive. “It reminds you to keep the bigpicture perspective on what we’re trying to do.” AP

THE Warriors’ Stephen Curry shoots the game-winner against the Rockets’ Kevin Porter Jr. AP

Saso 3 strokes behind leader Korda

Barcenilla as a guest on my podcast. I have had lengthy discussions with GM Ino Sadorra. I also met GM Mark Paragua who impressed me. Of course, it isn’t limited to the GMs. Early in my coverage of PCAP, I met Chairman Baham’s brother Jorge who was then handling the Palawan Queen’s Gambit, the league’s sole all-women’s team. It was fun trying to help them get off the ground by handling a press conference for the squad and helping them out with press releases. I love the potential and the possibilities of the league so much that I volunteered to conduct marketing seminars for its team owners, managers and players in hopes they will be able to increase awareness not only for their teams and players but also for the sport. You know, the sky is the limit for this chess league. Early on, it got the support of San Miguel Corp. and Ayala Land. Now even computer leader PC Works is in. And of course, there was the sponsorship of Super GM Wesley So of the second conference which bears his name. In my introduction of the new season during the opening program last Saturday, I said this… if last year (2021) was historic, expect this year to be epic. I have no doubt about it.

YUKA SASO, now competing as a Japanese, is in the hunt in Florida. AP

a Grand Slam tournament, which is third on the all-time behind Federer (58) and Novak Djokovic (51). He shares the men’s record of 20 major titles with Federer and Djokovic. But he’s the only one of the trio playing in this tournament. Mannarino, who didn’t finish his third-round win until after 2 a.m. on Saturday and appeared to be hampered at times by an abdominal or upper leg injury, threw everything at Nadal in the opening set on Rod Laver Arena, where temperatures approached 33 Celsius (91 F). The first set lasted 85 minutes, including the ‘breaker, but after getting early breaks in the second and third sets the match was over in two hours and 40 minutes. “I’m very happy I survived that first set, without a doubt,” Nadal said. “That crazy first set was so important.” The No. 14-seeded Shapovalov spent almost 11 hours on court through the first three rounds, winning twice in four sets and once in five, and was surprised by the relative speed of his two-hour and 21-minute win over Zverev. “Probably the one I least expected to finish in three,” he said. “Definitely happy with where the game is at. I played pretty smart today.” AP

RLANDO, Florida—Nelly Korda is just ahead of a stacked field going into final round of the Hilton Grand Vacations Tournament of Champions—the Ladies Professional Golf Association’s (LPGA) 2022 kickoff event. Four women who have won majors are among the top five players. Korda, the world’s No. 1 and five-time winner in 2021 (including an Olympic gold medal), limited her mistakes on Saturday in challenging, chilly conditions for a 3-under 69 with four birdies and a bogey, and is 13-under 203 overall. Korda, 23, won the 2021 Gainbridge LPGA on the same course, Lake Nona Golf and Country Club. Danielle Kang, the runner-up at this tournament a year ago, and Mexico’s Gaby Lopez, the 2020 TOC champion, each went bogey-free in matching Korda’s 69, and will begin the final round one shot back. Canada’s Brooke Henderson and Japan’s Yuka Saso matched the day’s low score of 68 and will begin Sunday two and three strokes behind Korda, respectively. Kang, Henderson and Saso all have won major championships. Korda is seeking her eighth career LPGA title. The more she gets in the hunt, the more poised she appears to be. On Saturday, she played alongside a former No. 1 player, Annika Sorenstam, who won 72 times on the LPGA and leads the celebrity field. “I don’t think anyone is ever really comfortable sleeping on a lead in a sense, but I’m just going to see how I can grow from this opportunity, try to take my best golf into tomorrow, and see how it goes,” Korda said. Kang held the lead briefly on the back nine and has made only one bogey in three rounds. A Californian who never played very well in the cold, she would rise early at home in Las Vegas in the offseason and make herself practice when it was cold and windy. She experimented with clothing layers that wouldn’t inhibit her swing.