BusinessMirror July 19, 2021

‘Good jabs drive, key to rating prospects’

By Bianca Cuaresma @BcuaresmaBM

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ASSAGE of the Bayanihan to Arise as One Act or Bayanihan 3 will not improve the country’s rating prospects, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno told reporters over the weekend.

What will improve the country’s standing among credit watchers, especially after Fitch Ratings’ move, is a streamlined and effective vaccination program, the governor said.

“The wisdom of whether the government should legislate Bayanihan 3 now that Bayanihan 2 has lapsed should be decided upon by the Executive Department and Congress. That is not within the mandate of the BSP. I disagree, how-

ever, that legislating Bayanihan 3 will help us to improve our ratings prospects after Fitch downgraded the country’s outlook to ‘negative’ from ‘stable,’” Diokno said.

Last week, international credit watcher Fitch Ratings revised its outlook on the Philippines’s current rating citing the strong impact of the pandemic on the economy, which could potentially result in scarring effects to the country.

However, it affirmed the country’s rating at “BBB.” What needs to be done right now, Diokno said, “is to accelerate the vaccine rollout, pursue the structural reforms the government was pursuing before and during the pandemic, and continue aggressively with its BBB program.” Such measures, he stressed, “will immensely

improve the Philippines’ growth prospects and its ability to attract foreign direct investments.”

In its report, Fitch said while supplies of vaccination have been coming to the country in recent months, it may not be enough to reach the government’s target.

“The authorities aim to vaccinate up to 70 percent of the eligible population by end-2021, which Fitch views as ambitious because under 3 percent of the population was fully vaccinated as of the end of June,” Fitch said.

Bullish on vaccines

Diokno, however, expressed confidence in the country’s vaccination program.

“I’m positive that the vaccination program is on the right track.

Monday, July 19, 2021 Vol. 16 No. 278

First, the Philippines is getting a steady supply of vaccines from multiple sources; other countries have only one or two sources. Second, it has shown its capacity to administer the program effectively and massively. Third, there’s strong private sector support for the vaccination program. Finally, there appears to be no vaccination hesitancy on the part of Filipinos,” Diokno told reporters.

“The success of the vaccination program is the key to a strong and sustained economic recovery. With its success, future surges in virus incidence can be avoided. In turn, there would be no need for lockdown measures which have proven to be costly economically here and abroad,” he added.

See “Good jabs drive,” A2

‘MORE D.U. CONTRACTING

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P25.00 nationwide | 2 sections 18 pages |

WILL FILL POWER GAPS’ ‘ASIA’S NEXT PREMIER GATEWAY’ AT CLARK DEFIES DOWNTURN

By Lorenz S. Marasigan

@lorenzmarasigan

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This is the sight that will greet visitors as they step foot on the newly completed passenger terminal building of the Clark International Airport (CRK) Terminal 2 in Pampanga. “Asia’s Next Premier Gateway” is a state-of-the-art international airport equipped for contactless baggage handling, passenger check-ins and check-outs, and an ordering system that will make travel by air hassle-free and effortless. Story at right and on page A4. PHOTO FROM DEPARTMENT OF TRANSPORTATION

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By Lenie Lectura

@llectura

NERGY security still hanging?

Policy is key, says an energy expert who said power supply deficiency may be addressed by requiring distribution utilities (DUs) to contract more from power generation companies.

Speaking at the Philippine Competition Commission (PCC) webinar on Abuse of Dominance, lawyer Jay Layug said a policy on ancillary service (AS) will not address deficiency in power

supply.

Layug is a former energy undersecretary and ex-chairman of the National Renewable Energy Board (NREB).

Continued on A2

PESO exchange rates n US 50.2790

EING groomed as “Asia’s Next Premier Gateway,” the Clark International Airport (CRK) is expected to “spur economic growth, boost connectivity and mobility” in the northern parts of Luzon, the Department of Transportation (DOTr) said on Sunday.

Transportation Secretary Arthur P. Tugade said the airport, which is equipped with “stateof-the-art” facilities, will create a “multiplier effect” that will redound to the hospitality and tourism industries in Central Luzon.

“This is now a reality waiting to be used. This facility is filled with features, many of which

had been unthinkable in the Republic of the Philippines, in the history of this country,” he said.

President Duterte was quoted in the same statement as saying that the completion of the airport facility, developed by Megawide Construction Corp., is reflective of the government’s push for more infrastructure despite the pandemic.

“This structure before us reflects the administration’s unyielding commitment to improve the quality of life of every Filipino by providing big-ticket infrastructure projects such as this that will improve connectivity, mobility, create jobs, and spur economic activity in the regions,” he said.

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Export, logistics players nix 15% port tariff hike

By Tyrone Jasper C. Piad @Tyronepiad

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XPORT industry stakeholders have asked the Philippine Ports Authority (PPA) to postpone the proposed increase in cargo handling tariff and passenger terminal fee by a port in Manila.

The Export Development Council (EDC) and the Supply Chain Management Association of the Philippines (SCMAP) appealed the 15.33-percent tariff increase proposal by Manila North Harbour

Port Inc. (MNHPI) as this is seen to further burden the already ailing economy.

“We strongly recommend the postponement of the proposed rate increases of MNHPI to give ample time for struggling business to recovery from the pandemic-inflicted losses,” the parties said in a position paper recently sent to PPA Port Manager Annie Lee Manese, a copy of which was obtained by the BusinessMirror.

The EDC and SCMAP noted that the “untimely proposal” will take a toll on the micro, small and medium

enterprises (MSMEs), whose operations—for most cases—are either temporarily closed or scaled down amid the lockdown protocols.

“Reports showed that exporters, primarily the MSMEs, are still experiencing difficulties getting back to normal business operations,” the joint paper read.

The export industry stakeholders pointed out that the pandemic has forced logistics service to be more expensive amid mobility restrictions, limitations in personnel and other related capacity concerns. “The new policy of MNHPI

forcing ships calling at the port to use their quay cranes—therefore subjecting shippers, and ultimately business, to cranage fee—also was an additional burden, one that did not go through consultation with affected stakeholders,” they added.

Ultimately, the EDC and SCMAP stressed, the increased cost will be passed on to consumers, which means slower economic recovery.

They noted that higher costs will derail the rebound in consumption and consumer confidence.

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n japan 0.4578 n UK 69.5258 n HK 6.4728 n CHINA 7.7813 n singapore 37.1200 n australia 37.3221 n EU 59.4046 n SAUDI arabia 13.4056

Source: BSP (July 16, 2021)

News

BusinessMirror

A2 Monday, July 19, 2021

‘ASIA’S NEXT PREMIER GATEWAY’ AT CLARK DEFIES DOWNTURN Continued from A1

The new passenger terminal building can accommodate 8 million passengers on its opening year, almost tripling the airport’s passenger capacity from the current 4.2 million to 12.2 million annually.

CRK is equipped for contactless baggage handling, passenger checkins and check-outs, and an ordering system that will make travel by air hassle-free and effortless.

It also features gender-inclusive and PWD-friendly restrooms, advanced docking guidance system, and a Heroes Lounge for soldiers, police officers, and Overseas Filipino Workers (OFWs).

CRK will also be connected to the Philippine National Railways (PNR) via the North-South Commuter Railways (NSCR) Program, reducing travel time between Metro Manila and the airport to just 55 minutes.

“This is one facility by the Build, Build, Build team that we can truly be proud of, not only as a Kapampangan, but most importantly as a citizen of the country. Dati pa-drawing drawing lang. Ngayon, ito at ginawa at ginawa. Ito po ‘yung naging bunga [Before, this was just on drawings.

Now, it’s done. This is the fruit of that effort],” Tugade said.

Megawide and partner GMR Infrastructure Ltd., the consortium that developed the modern Mactan-Cebu International Airport, won the deal in 2017.

Operations of the CRK will begin within the year as part of efforts to decongest the Ninoy Aquino International Airport (Naia) in Manila.

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PHL can’t copy Singapore’s Covid drive; LGUs warned

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N official of the Department of Health (DOH) reminded local government officials not to breach quarantine protocols, saying any violation “might be detrimental” to the country and the population.

Health Underscretary Maria Rosario Vergeire gave the reminder when asked for a reaction to the statement of Cebu Governor Gwen Garcia on July 13 that they “will take a cue” from Singapore, which announced it will soon “fundamentally change” how it manages the pandemic: i.e., treat Covid-19 like other endemic diseases such

as flu. News reports stated that soon in Singapore: There will be no goals of zero transmission; they will dump quarantine for travelers and close contacts of cases will not have to isolate. It also plans to no longer announce daily case numbers.

“We cannot compare the Philippines with any other country in the

world,” Vergeire said at the weekend, noting that the Philippines has a bigger population compared to Singapore.

Vergeire added that Singapore has high vaccination rates.

“Owing to these kind of factors or considerations, we cannot change our direction [Covid response] at the moment. Here in the Philippines, we are an archipelago,” she said in a mix of Filipino and English.

She added: “It is still hard to manage and declare that the disease is endemic and we would be easing our restrictions.” She stressed that more evidence is needed to declare that a certain disease is endemic.

“We are urging our LGUs to unite with us, with our protocols that we are implementing, for this should be a whole-of-government

approach, wherein we are implementing a uniform protocol,” Vergeire reiterated, speaking partly in Filipino.

Covid cases

As of Sunday, the DOH logged 5,411 additional Covid-19 cases, bringing the total number of infections in the country to 1,507,755.

There were also 5,439 recoveries and 117 deaths.

Of the total number of infections, 3.1 percent (47,190) are active cases, 95.1 percent (1,433,851) have recovered, 1.77 percent (26,714) have died.

Fifteen duplicates were removed from the total case count. Of these, 10 are recoveries and 1 is a death.

Moreover, 82 cases prev iously tagged as recoveries were reclassified as deaths after final validation.

‘MORE D.U. CONTRACTING WILL FILL POWER GAPS’ Continued from A1

The PCC webinar was held for the Economic Journalists Association of the Philippines (EJAP).

“For a deficiency supply, we are now requiring NGCP (National Grid Corporation of the Philippines) to contract more reserves when in fact what should be done is increase sup-

ply via all the DUs contracting for more. It is not more ancillary we need, but more supply of electricity,” Layug pointed out.

He proposed that DUs be allowed to contract “a little more” to help address supply deficiency.

The NGCP has caught the ire of the Department of Energy (DOE)

for not contacting enough firm AS contracts. A policy was issued thereafter that required the grid operator to “expedite the procurement of the required reserves to ensure the grid’s secured and reliable operations.”

The NGCP was also given 30 days to convert all of its non-firm AS contracts to firm.

In his personal opinion, Layug said, the NGCP has not violated its obligation to contract power reserves.

“I did check the records of NGCP based on ERC records. Is NGCP violating obligation to contract reserves?

No. In fact, it has contracted a lot of reserves. It’s just that what the DOE now requires is all those reserves must be in firm capacity.”

Consumers to suffer

He expressed concern that consumers will suffer from the conversion of non-firm to firm AS contracts.

“When we convert all those nonfirm reserves to firm capacity, that means those generators don’t need to run, they have to be on standby all the time, and they will get paid capacity fees even for not running.

So, the impact now goes on to consumers,” he said.

Layug stressed that the power generation sector needs more supply while the transmission and distribution sectors need to put up more infrastructure in order for the country to be assured of stable and affordable power supply.

He is also willing to share his view with the PCC, which is coordinating with the Department of Energy (DOE) and the Energy Regulatory Commission (ERC) on an ongoing probe on power firms’ possible involvement in the MayJune power outage incidents caused mainly by sudden and prolonged plant shutdowns.

PCC Chairman Arsenio Balisacan said his office is “working closely” with the two agencies “to get this

coordination working as smooth as possible...to get the case moving.”

The DOE has turned to the ERC, PCC and Department of Justice for enforcement assistance and case build-up against power firms for their prolonged power plant outages; the grid system operator for not securing enough firm-contracted ancillary reserves; and the DUs for not conducting competitive power supply auctions on time.

“We have always asserted that competition is an important lever that the government should exploit in its pursuit of inclusive development. Fair competition pushes businesses to come up with innovative and better-quality products and services at competitive prices. It therefore benefits the public, especially the poor,” Balisacan said.

He said the PCC, being a relatively new government agency, is still unknown to many. Yet, the principles of fairness that the commission strives to uphold are not unfamiliar to the public.

“Even before the passage of the Philippine Competition Act, many of our stakeholders already understand the concept of abuse of dominance as manifested in the most basic ways. Examples are when dominant companies charge exploitative or unreasonably discriminatory prices to consumers and competitors, or set unfair trading conditions to suppliers and distributors,” Balisacan said.

However, he added, “the problem lies in the gap between what the public feels or thinks is unfair and what they know is actually punishable under the PCA. Many abusive practices go unchecked and unpunished, remaining as hearsay or open secrets mostly because of this lack of knowledge. On the other hand, knowing well what is lawful and not can bolster the confidence of consumers and firms to report abusive acts to the PCC,” he said.

‘Good jabs drive This, the governor said, is key to keeping a favorable image especially to credit watchers, and not necessarily the passage of the Bayanihan 3.

“The rationale for Bayanihan 3 fades with the submission of next year’s President’s Budget within a month or so. Additionally, as a result of the Supreme Court ruling, more fiscal resources will flow to LGUs starting January 2022, less than half a year, from now. LGUs may be in a better position to address the needs of their local constituents who are affected by the pandemic,” Diokno said. He was referring to

Continued from A1

the Mandanas ruling that upheld the LGUs’ right to a bigger share of the internal revenue allotment from the national government.

“If local officials don’t want to overburden their fiscal position as a result of high incidence of Covid-19 in their community, then they should exert more effort to contain the virus through strict enforcement of health protocol and more aggressive contact tracing. This is what we call ‘ incentive-compatible.’

Moving forward, I see the likelihood of stricter local lockdowns, if at all, rather than regional lockdowns,” he added.

Export, logistics players nix 15% port tariff hike Continued from A1

Citing MNHPI’s statement, the signatories of the position paper said the proposed tariff increase was aimed at meeting the port’s development plans.

T he parties, w ith this, sought a copy of the port’s financial statements to review if the proposed increase—which is also deemed essential for cost recovery—is justified.

“We understand that the port operators were not spared from the impact of the pandemic. However, logistics costs must not cause more burden for importers, exporters, and consumers,” the export industry representatives said.

Letter to Congress

Last month, EDC and SCMAP, along with the Philippine Exporters Confederation Inc. and Philippine Chamber of Commerce and Industry, sent a letter to the House of Representatives’ Committee on Transportation requesting the implementation of standardized shipping fees.

The stakeholders stressed that shipping charges based on International Commercial Terminology—a globally-accepted standard for international trade—will allow businesses to have better cost management. As such, shipping lines can also be more competitive as it levels the playing field in terms of pricing, they added.

Following a standardized shipping fee scheme will help relevant authorities better assess petitions for increase in rates, they said. The exporters explained then that price increases will be based on quantitative pricing mechanisms instead of a unilateral move by a company as a cost recovery measure.

The industry groups blamed the high logistics fee on lack of regulatory oversight, as no agency monitors local charges imposed by international shipping lines.

In response, the Department of Trade and Industry submitted a draft of the Philippine Shippers Act of 2021 to Congress in May. The proposed measure seeks to grant the Maritime Industry Authority power to oversee the freight charges—which industry players complained to be higher amid the pandemic— being imposed by the logistics service providers.

Pimentel, Pacquiao unfazed by Cusi-led moves in PDP Laban Continued from A10

“We should let him focus on those. Kami na lang ang mamroblema sa [we will just be the ones to focus on] party problems.”

However, the senator debunked Duterte’s claim that “PDP Laban was asleep for 100 years,” and that it was a father-and-son party and that Nene Pimentel] “was not even acknowledged in Cagayan De Oro,” the Pimentels’ bailiwick.

“That is where I corrected him [Duterte],” the senator said, reminding that “Tatay [Nene Pimentel] is recognized in Cagayan De Oro.” Pimentel added: “The party [PDP Laban] was active, already producing a senator,” in fact, two Senate Presidents [Pimentrel Jr. and the III], even while acknowledging that as expected, it even grew in numbers [when Duterte became president].”

Still, he acknowledged that “a surge” in membership is normal in political parties when they produce a president.

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DOH expands capacity of Calabarzon hospitals

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O prepare for any possible surge of cases, an official of the Department of Health (DOH) in Calabarzon (Cavite, Laguna, Batangas, Rizal, Quezon) announced that Covid-19 Intensive Care Unit (ICU) and ward tents donated to the Quezon Medical Center (QMC) are now ready for utilization.

“We need to expand hospital’s capacity and explore innovative solutions at the forefront for the management and treatment of Covid-19 patients and also to be ready for any possible surge of cases,” Regional Director Eduardo C. Janairo stated.

Janairo added that the ICU tents will also decongest the QMC. “We can also lessen and prevent the spread of the virus within the hospital as these tents are located outside the premises,” he emphasized.

According to Health Facility Operation and Development Unit (HFODU) Outcome Manager Wyda D. Berina, medical supplies and equipment that will be used for the ICU and ward already have been delivered and installed.

Among the logistics medical supplies and equipment delivered were: 3 HP floor standing inverter type ACU; bio sensors/patches; am-

bulatory blood pressure monitor; pulse oximeter; BP apparatus; nonrebreather oxygen face mask; nasal cannula adult; nasal cannula pedia; non-contact thermal thermometer; pulse oximeter; digital BP Apparatus; IV set for adult; IV set for pedia; soluset; alcohol pad; absorbent cotton; 10-cc syringe with needle; 3-cc syringe with needle; 1-cc syringe with needle; 5-cc syringe with needle; two beds with mechanical cranks with side rails and mattress (VMED); emergency cart/crash cart; electric ICU beds; oxygen therapy set; oxygen tank; pulse oximeter; and, high-flow nasal cannula with machine.

“The regional office also provided manpower by deploying human resource for health (HRHs) at QMC for Covid-19 response and management,” Berina added.

The Integrated Provincial Health Office of Quezon reported a total of 16,164 Covid-19 cases as of July 18, 2021. There were 14,691 recoveries, 750 active cases and 723 deaths.

Among the top five city and municipalities with the highest recorded cases are: Lucena City with 3,275; Tayabas with 1,408; Sariaya, 1,308; Candelaria, 1,214; and, Pagbilao with 802. Claudeth Mocon-Ciriaco

Gordon calls for mobilization of resources vs Delta variant

By Claudeth Mocon-Ciriaco @claudethmc3

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OLLOWING the reported cases of Delta variant in the country, Philippine Red Cross (PRC) Chairman and CEO Senator Richard J. Gordon called for massive mobilization of resources to protect frontliners in the affected regions, especially those in Cagayan De Oro and Misamis Oriental.

“We need to ensure 100-percent vaccination of all health workers.

Additional PPEs [personal protective equipment] will be needed in all hospitals and health centers big and small,” the Senator said adding not to limit the supply of PPEs to the frontliners in Mindanao.

“We don’t have enough doctors and nurses there. We need to make sure they are vaccinated, suited up, and prepared,” Gordon added.

The Department of Health has said that of the 11 local cases of the Delta variant, five were from Cagayan de Oro and one from Misamis Oriental.

Gordon said it is important to deploy good health communicators who can explain how contagious this virus is in the local languages.

Information should be given to the people so that they may know the need to avoid indoor gatherings and wear properly fitted masks.

He also said that ambulance units need to be prepared for the transfer of non-Covid patients in a safe way and called for the immediate ramping up of treatment protocols for those who are sick.

“We cannot get genome sequencing for every patient but it’s enough to know that a few cases could rise exponentially within weeks. The Delta Variant has milder symptoms among the vaccinated so this is a high priority area. We need to be agile and nimble. Move vaccines to these regions, deploy additional people, and most importantly, vaccinate all seniors. We may not be able prevent it. The spread and hopefully illness will be mild - but we should focus on preventing unnecessary death through vaccination and

Bangsamoro execs seek dual use of Hijri, Gregorian calendars in official documents

By Manuel T. Cayon @awimailbox Mindanao Bureau Chief

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AVAO CITY—A Bangsamoro legislator has filed a bill mandating the dual use of the Hijri and Gregorian calendars in the region in their documents and communications and to familiarize the region’s residents about the two calendars.

The bill was already a step closer to final approval after the Bangsamoro Parliament, currently constituting the Bangsamoro Transition Authority (BTA), passed it on second reading on July 15.

BTA Bill 87, or The Dual Calendar Act of 2021, was principally authored by Deputy Speaker Omar Yasser C. Sema.

Sema said in his bill that Muslims around the world use the Hijri or Islamic calendar to determine the dates of religious events and observances. It consists of the following 12 months: Muharram; Safar; Rabi Al-Awwal; Rabi Ath-Thani/Rabi

Al-Akhir; Jumada Al-Ula; Jumada Ath-Thaniyah/Jumada Al-Akhirah; Rajab; Sha’ban; Ramadan; Shawwal; Dhul Qi’dah; and, Dhul Hijjah.

The Gregorian calendar is the one universally used by countries.

The bill aims to promote “inclusion in all public transactions and develop familiarity of the constituency on the Hijri and Gregorian calendars. It also intends to familiarize the public with the calendar that emanated from the migration of Prophet Mohammad (SAW) from Makkah to Madinah.”

Under the proposed measure, the date on the Hijrah calendar should appear first before the date over the Gregorian calendar in writing the date of official documents and communication.

To implement the said measure, the office of the Darul-Ifta would be initially funded with P10 million, which shall be sourced from any available funds of the Bangsamoro government.

The Darul-Ifta is Islam’s house of jurisprudence, which issues fatwah or religious ruling and issuances on

Editor: Vittorio V. Vitug • Monday, July 19, 2021 A3

the conduct and understanding of political and social events and activities. In funding the office, the bill said the Darul Ifta would serve as the consultant of the Office of the Chief Minister on religious affairs.

MNLF members

ANOTHER bill was introduced “to honor the valor of the Top 90 and Top 300 core members of the Moro National Liberation Front (MNLF).”

The bill seeks to recognize the important contribution of the “young brave men in preserving the safety and well-being of the Bangsamoro people.” The bill was filed by Amir Mawallil, lawyers Rasol Y. Mitmug Jr., Suharto M. Ambolodto and Laisa Alamia, Baintan Adil-Ampatuan, Sittie Shahara Mastura, Don Loong, Rasul Ismael and Abraham Burahan.

The authors described the Top 90 as those who came from the various Moro ethnolinguistic groups and “who questioned the socio-political landscape in Mindanao and sought to address social injustices against the

Bangsamoro people.” They eventually formed the MNLF. In 1972, the MNLF’s Top 90 core members grew and recruited 300 young Muslims to join the group.

“It is strange, however, that until today one cannot find a fitting monument in the Barmm [Bangsamoro Autonomous Region in Muslim Mindanao] that would serve as a lasting memorial to these courageous men who fought to assert our rights and affirm our distinct historical identity and birthright from those who attempted to subdue it,” the bill’s explanatory read.

The authors said that the Barmm needed a memorial “that will be visited and revered by all, particularly by the present and future generations.”

“The Top 90 and 300 core members, the unsung champions of the Bangsamoro struggle, should be given proper recognition for the bravery they have manifested in continuously fighting for our rights,” the authors said in the explanatory note.

treatment,” he furthered.

Vigilance

GORDON also called on the public to be vigilant.

“The new Delta Variant should not cause panic but to alert our fellow Filipinos that there is still a threat of the new variant,” Gordon said adding that the PRC, the leading organization for Covid-19 tests, has also started to ramp up its vaccination efforts to beat the invisible enemy.

He also encouraged the public to get vaccinated.

“If vaccinated already, please wear face mask, observe social distancing and wash your hands frequently,” he emphasized.

Breakthrough

THE Philippine Red Cross (PRC) reported last Sunday that it reached a breakthrough of vaccinating over 37,300 as of July 17.

“The best protection against Covid-19 is to get vaccinated. That is why the Red Cross continuously makes

an effort to promote and educate the public so that we can reach herd immunity,” Gordon said.

According to PRC Health Services Manager Mark Alvin I. Abrigo, about 35,232 were vaccinated in the PRC Bakuna (vaccine) Centers and 2,068 through “Bakuna Buses.”

The PRC continues to ramp up its vaccination efforts as it also expands its vaccination centers nationwide.

As of July 17, the PRC Bakuna Centers are: PRC Logistics and Multi-purpose Center (Mandaluyong); PRC Pasay chapter; PRC Port Area; PRC Kabaka (Manila); PRC Letran (Manila); PRC Tarlac (Citywalk Mall); PRC Zamboanga City (Zamcelco); PRC Iligan City (Lanao Chung Hua School); PRC Bulacan Chapter; PRC Rizal Chapter (Arcovia Mall, Pasig, in partnership with the local government unit); and, PRC Rizal Chapter-San Lorenzo Mall (Makati, in partnership with LGU).

As of July 17, the established PRC Bakuna Buses are in Mandaluyong, Marikina and Navotas.

Election surveys may be used as propaganda tool–Pabillo

By Samuel P. Medenilla @sam_medenilla

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N official of the Catholic Bishops Conference of the Philippines (CBCP) urged the faithful to be wary of the pollrelated surveys for being propaganda tools.

CBCP-Episcopal Commission on the Laity Chairman Bishop Broderick S. Pabillo said the commissioned surveys are a form of mind conditioning from some aspiring candidates.

“Instead of considering the surveys let us be influenced by the Word of God. It has a lot to tell us about leadership, even political leadership,” Pabillo said during his homily last Sunday, He noted voters should consider voting for candidates in the 2022 National and Local Elections who will have similar leadership skills of Jesus Christ, who know the needs of the people by being with them.

“We need leaders who are moved by the dire situations of the people.

We need leaders who have mercy and compassion and not promote ‘Kill!

Kill! Kill!’ In fact, because Jesus had compassion he forgot his own need of rest,” Pabillo said.

“To offer oneself for the others: this is also the kind of leadership we need; the sacrifice of self-interest for the sake of the people,” he added.

Pabillo issued the statement after a Pulse Asia release the result of its latest survey last week, which showed Presidential daughter and Davao Mayor Sara Duterte leading among potential candidates for president in the 2022 polls.

The same survey revealed her father, President Rodrigo R. Duterte, as a top contender for the vice presidential race next year.

The survey was conducted last June 7 to 16 and covered 2,400 respondents.

Govt repatriated home 3,000 Pinoys from UAE Gatchalian bats anew for tighter review

of Malampaya stake to Udenna Corp.

By Recto Mercene @rectomercene

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HE Department of Foreign Affairs (DFA) has repatriated a total of 3,000 distressed Filipinos from the United Arab Emirates, following the arrival of its 7th special chartered flight from the UAE since the start of the pandemic.

Bringing home 359 Overseas Filipinos—including 112 pregnant Filipinos and 12 persons with disabilities—the flight arrived at Davao International Airport yesterday Sunday morning.

“We are working double time to make sure our kababayans in distress get the much-needed repatriation the soonest. Pregnant women, PWDs and those with special needs are given due consideration to expedite their return home,” stated Foreign Affairs Undersecretary for Migrant Workers’ Affairs Sarah Lou Y. Arriola.

The Philippine government’s successful repatriation of Filipinos from the UAE was made successful by the Department, through its Office of the Undersecretary for Migrant Workers’ Affairs (OUMWA), with the assistance of the Philippine Embassy in Abu Dhabi, the Philippine Consulate General in Dubai, and the Regional Consular Office in Davao (DFA RCO Davao).

Other government agencies were

By Butch Fernandez @butchfBM

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THIS undated photo shows an unnamed staff of the Department of Foreign Affairs (DFA) in personal protective equipment at the international airport. The DFA has announced it has brought home about 3,000 Filipinos from the United Arab Emirates.

in full support during the arrival of the repatriates, with the City Government of Davao leading the provision of ground assistance together with the DFA Regional Consular Office Davao, Department of Health, Overseas Workers Welfare Administration and the Department of Tourism.

“We send our appreciation to our partner agencies, especially to the City Government of Davao, for the invaluable assistance to the repatriates upon their arrival. This

is a clear example of the whole-ofgovernment approach that the administration promised in assisting our distressed OFs,” added Undersecretary Arriola.

In addition to their return flight ticket, free quarantine facility and swab test provided by the government, all repatriates received a P10,000 ($200) reintegration assistance, in line with the instructions of President Duterte and as recommended by Foreign Affairs Secretary Teodoro L. Locsin Jr.

HE Department of Energy must thoroughly review the sale of the 45-percent stake of the Shell-led consortium in Malampaya gas field to the group of Davao-based businessman Dennis Uy for its implications on energy security and pricing, the chairman of the Senate energy committee stressed at the weekend.

In an interview with DWIZ radio channel, Senator Sherwin T. Gatchalian pointed out that Malampaya is critical in the energy mix, providing 40 percent of Luzon’s power needs, and the successor of the Shell Philippines Exploration B.V. (SPEx) should be financially and technically capable of operating the power facility in Palawan.

Dennis Uy-led Udenna Corp. (UC) could take over the 45-percent interest of Malampaya operator SPEx in December this year, if regulatory processes are hurdled. At a hearing he called last week, Gatchalian said that SPEx should have been more prudent in selecting its successor, as questions about UC’s financial standing were raised.

Malampaya Energy XP Pte Ltd., a unit of UC, told the committee last week foreign experts would help in the operation of the gas field, which delivers a fifth of the Philippines’ growing electricity requirements through the supply of natural gas to five power plants in Luzon.

At the same time, Gatchalian agreed that it is better for Energy Secretary Alfonso Cusi to focus more on his work at DOE, which is a fulltime and very challenging job, expressing hope that the Cabinet official would not get distracted by politics.

This, as Secretary Cusi was installed last Saturday as party president of the PDP-Laban in its national assembly that was contested by two party stalwarts— former Senate President Aquilino Koko Pimentel and Sen. Emmanuel Pacquiao, whom Cusi replaced.

Gatchalian explained to DWIZ why Malampaya is crucial: “First of all, it supplies 20 percent of the energy in households in the country. Second, here in the Meralco franchise, over 4 million homes are supplied by Malampaya.”

“So in other words,” he added, “if Malampaya is lost, 4 million homes

will have no electricity. That’s why it is important that whoever comes in to operate Malampaya, must first of all have the capability to run it. Second, it must have the funds; because this is no ordinary business. It is important to our country and very technical.”

The senator said he personally visited Malampaya and was able to confirm “it is not an ordinary business and requires long experience to operate the oil rig.”

He recalled the sale of Malampaya between Shell and Chevron, adding that while they have nothing to do with the sale, in his view, the government must carefully study the deal as the asset cannot be sold to just anybody.

The senator reminded that while the government retained a 10-percent share, “it retains oversight power.

“The law is very strict in protecting what is ours, and us, Filipino citizens,” Gatchalian assured.

He noted that the law is “very strict” when it comes to providing protection to consumers.

“That was why it was placed in the law, to ensure that whoever opens business is capable” he added.

News

BusinessMirror

A4 Monday, July 19, 2021

www.businessmirror.com.ph

Improving air connectivity to boost tourism–Puyat

By Ma. Stella F. Arnaldo @akosistellaBM Special to the BusinessMirror

I

MPROVING air connectivity between tourism markets and destinations will help restore tourism to pre-pandemic levels.

In a news statement, Tourism Secretary Bernadette Romulo Puyat said, “having world-class air, land and sea infrastructure such as the Clark International Airport (CIA) will help Philippine tourism bounce back sooner.”

She joined President Duterte and other Cabinet members at Saturday’s inspection of the newly completed second passenger terminal of the CIA. The P12.55-billion project was an initiative under the Duterte administration’s “Build, Build, Build” program.

Visitor arrivals at CIA plunged by 75 percent in 2020 to 494,387 as Covid-19 travel restrictions continued to hamper inbound tourism. Arrivals from January to July 2021 were at 51,584, according to data provided by the Department of Tourism (DOT).

No comparative data was provided

for the first half of 2020.

Tourist receipts were also estimated by the DOT at P6.23 billion in 2020, a 68-percent decrease from the P19.66 billion recorded at the Clark Freeport Zone in 2019.

Estimated tourist receipts from January to July 2021 were P2.32 billion, but no comparative data was provided for the same period in 2020.

Not foreign tourists

BASES Conversion and Development Authority president and chief executive officer Vivencio “Vince” B. Dizon clarified to the BusinessMirror, however, that no foreign tourists have arrived at Clark. “Foreign tourists are still prohibited nationwide, not just in Clark,” he stressed.

He considered the possibility that overseas Filipinos and overseas Filipino workers arriving via Clark tick the “tourist” box in the Bureau of Immigration’s arrival cards, thinking they will be in the country temporarily. “I’ll have to check, but most likely that’s what happened,” he said.

Data from the Clark International

Illegally recruited mom from Pampanga, latest in long list of abused OFWs. . . continued from a10

Ariel was unable to talk, weighed down by his grief, and kept his head bowed throughout the conference. It was Mariel, in between sobs, who gave an account of her mother’s tribulations.

“Mama left the country in 2019 to work abroad; we didn’t want her to leave because we feel we could manage. She had gone to work abroad before but her efforts were without any luck,” she said in Pilipino.

“She had to go because I am about to go to college. Mama wanted to give us what we wanted—for me, an education. She took her chances and endured so much hardships while working in the UAE.” The young Santos admitted that her mother went abroad as an illegal worker.

“She was TNT, (the Filipino term for tago-ng-tago, or always in hiding), then the pandemic came, but she insisted that she can manage the difficult work. But then her employer was very strict,” Mariel narrated.

“My mother was very kind, she doesn’t deserve this punishment. She went to work in order for me to be able to study and remit money for our needs,” Mariel sobbed.

In the last three months, “her remittances were not coming regularly,” and so they suspected something amiss.

Mariel came to know that those who killed her mother have been detained —the father and mother of the family, and two children, one of whom is underage.

In Mariel’s view, Grace was killed “because she was demanding that she be paid her salaries.”

In June 2021, Mariel said her mother had an intense argument with the employers because she had been kept in a room and seldom fed, and was not given her salary.

Mariel continued: “We told her to come home even without her money, but mama insisted she had to fight for what is hers, her salary.”

According to foreign news accounts, Grace had worked in Saudi Arabia and Qatar before and left the country for the UAE as a tourist on July 2019, aided by an unknown recruiter.

Her remains are at the CID Mortuary in Sharjah and UAE authorities said they will not release the body until the examination is over.

Illegal recruiter

GRACE left Manila on a tourist visa, assisted by an illegal recruiter, who has yet to be identified.

At the UAE, another recruitment agency met Grace, and introduced to an alleged employer who brought her to Sharjah, UAE, 164 miles away from the capital, Abu Dhabi, some one hour and a half by car.

Teresita Apitan of Gabriela, one of the zoom participants, said that, “based on [the] welfare officer [report] last July 14, 2021 she has legal counsel and it was confirmed that the four members of the family who killed her are in a detention center.”

However, she added, “There is no final report; what is needed is a higher forensic expert to perform the autopsy. We are waiting for the death certificate from the hospital.”

She said all the information gathered surrounding the death of Grace Santos have been forwarded to the Department of Foreign Affairs.

PRESIDENT Duterte, with assistance from Presidential Adviser on Flagship Programs and Projects Vince B. Dizon and Transportation Secretary Arthur P. Tugade, tries out the automated system at the new Clark international airport that he inspected last Saturday. PHOTO COURTESY OF DOTR

Airport Corp. (CIAC) showed, of the total visitors in 2020, 262,578 were

domestic passengers, while 231,809 were international passengers.

Built by Megawide Corp.-GMR Construction Joint Venture Inc., the

same consortium that completed the new passenger terminal at Mactan International Airport in Cebu, the new CIA passenger terminal is designed to accommodate as much as many as 12 million passengers every year.

The CIA will be operated and managed by the Luzon International Premiere Airport Development Corp. (Lipad), a consortium between Changi Airports Philippines Pte. Ltd., Filinvest Development Corp., JG Summit Holdings Inc., and Philippine Airport Ground Support Solutions (PAGSS) Inc. No date has been given when the new passenger terminal will actually be open to the public.

Prior to the pandemic, the Clark airport served 19 domestic and 14 international destinations, with 686 weekly flights by 18 airlines.

Meanwhile, Romulo Puyat said, “Boosting air connectivity is classified as one of the priorities of the DOT under the National Tourism Development Plan for 2016 to 2022, hence the significance of the completion of Clark Airport’s new terminal building.”

Caregiving remains most in demand training for OFWs

By Samuel P. Medenilla @sam_medenilla

C

AREGIVING National Certificate (NC) Level II has remained to be the most in demand training course for Overseas Filipino Workers (OFWs) as of June 2021, the Technical Education and Skills Development Authority (Tesda) said.

“Other countries admire our good traits as Filipinos and we, in Tesda, maximize the potential of our caregivers by equipping them with enough knowledge and world class competency in caregiving,” Tesda Secretary

Isidro S. Lapeña said.

Based on the latest data released by the Tesda, about 1,299 finished their training in Caregiving NC II or 11.56 percent of the total number of OFWs who trained under various Tesda training courses this year.

The said total number of OFW trainees, who finished the said training course, rose from 781, which was recorded last April 2021.

Lapeña also explained that the increase in number is because of the rising demand for caregivers in other countries like Israel.

It was in November last year when the Philippine Overseas Employ-

ment Administration announced that 500 Filipino caregivers are needed in Israel under a government-to-government scheme with no placement fee required.

Lapeña also added that the agency continues to strengthen its Caregiving NC II training and assessment facilities around the country, now that Covid-19 restrictions are gradually relaxing.

“This is part of our efforts in giving our OFWs the adequate service that they need,” he said.

Meanwhile, other OFWs made “Driving NC II” the second in demand Tesda training course with 1,190

graduates or 10.59 percent recorded as of June 2021.

This is followed by “Bread and Pastry NC II” with 915 graduates or 8.14 percent of the total 11,240 OFWs who graduated in various Tesda training courses in the first half of this year.

Around 5,558 of them, Tesda said, are either returning or repatriated while 5,682 are their dependents.

Most of them are coming from Region VI (Western Visayas) with a total number of 1,021; followed by Region VII (Central Visayas) with 595; and Region IX (Zamboanga Peninsula) with 470.

Immigration stops 4 women DOLE expects more workers from illegal travel to Europe regularized by end of 2021

By Joel R. San Juan @jrsanjuan1573

F

OUR female overseas Filipino workers (OFWs) bound for Dubai were intercepted by Bureau of Immigration authorities after they pretended that they were going to work in Europe as household workers.

In a report to Immigration Commissioner Jaime Morente, BI’s Travel Control and Enforcement Unit (TCEU) said the passengers attempted to board an Emirates flight to Dubai at the Ninoy Aquino International Airport (Naia) Terminal 3 last July 12, when they were caught.

Based on the report the OFWs initially showed valid work permits and visas to Albania, but upon further interrogation they were actually hired to work as household service workers in Dubai.

They likewise admitted that they were not going to proceed to the said European country.

Morente said this modus operandi is usually employed by human traffickers and illegal recruiters.

“They will obtain work permits and job contracts for their victims to work in another country, such as Albania or Maldives, when in fact Dubai is their actual work destination,” the report stated.

“This is a type of third country recruitment, wherein victims are given documents for one country, but end up being deployed in another,” Morente noted.

Morente lamented that in many instances, victims are made to accept conditions that are otherwise not acceptable just to be deployed for work.

The TCEU reported that all four passengers presented documents showing they were hired to work either as housekeepers or warehouse staffers in Albania.

Their employers reportedly paid as much as P200,000 for the processing of their visas.

A

N additional 200,000 contractual workers were regularized by their employers even with the onset of the novel coronavirus disease pandemic last year, according to the Department of Labor and Employment (DOLE).

This was on top of the over 580,000 workers, who were absorbed by their companies through the efforts of DOLE in 2019.

“This is one of the achievements of the Duterte administration...it is unprecedented,” Labor and Employment Secretary Silvestre H. Bello said in a previous online briefing.

Labor Undersecretary Benjo M. Benavidez disclosed 800,000 workers benefitted from their anti-illegal contractualization drive from 2016 to July 2021.

Bello noted the said beneficiaries could still increase before the end of the current administration especially since they are in talks with telecommunication giant PLDT and St. Luke’s Medical Center, which both have pend-

ing regularization cases.

DOLE ordered PLDT to regularize 7,300 of its workers, but the telecommunication firm questioned the decision before the courts.

Bello said he is confident both regularization issues will soon be resolved.

Labor groups earlier acknowledged that this was the first time such mass regularization was facilitated by the government.

However, they criticized Duterte for falling short of his campaign promise to put an end on the controversial work arrangement, which undermined the security of tenure of thousands of workers, through the passage of the necessary legislation.

To recall, Duterte vetoed the Security of Tenure bill in 2019, which would have regulated contractualization in the country, stating its broad definition of illegal labor-only contracting would negatively affect the employment of some workers.

Samuel P. Medenilla

Bangsamoro govt insists: We’re working, are transparent. . . continued from a10 Alonto stressed that, “access to health services and people-centric programs is also a priority in this transition period. Under the Ayudang Medikal mula sa Bangsamoro (AMBAG) Program of the Office of the Chief Minister, 13,401 patients received medical assistance as of 16 July 2021.

Free hospitalization was also made available to indigent patients through the Bangsamoro Critical Assistance for Individuals in Response to Emergency Situations (B-CARES) Program.”

He cited the program’s partnership with a leading private pharmacy to cover the cost of prescription drugs of indigent clients.

On relief assistance, the 133 municipalities and 3 cities of the region

benefited from Project TABANG or Tulong Alay sa Bangsamoro na Nangangailangan. The Bangsamoro emergency response office, READi, also extended relief to over 250,000 families affected by calamities.

Alonto did not deny that at one point, public school teachers’ salaries were delayed as alleged by TPA, but added that, “administrative issues on the transfer and downloading of funds as well can be expected considering it was the Bangsamoro Government’s first time to use the Block Grant.”

Secondly, this occurred at the height of the pandemic when work was disrupted by the implementation of new working arrangements. Citing the Education Ministry, Alonto said

“the processing and release of salaries is now updated and on time.”

Transparency was never an issue with the establishment of the Bangsamoro Government, which while enjoying fiscal autonomy, remains within the purview of the Commission of Audit.

“Again, we in the Bangsamoro Government will always be open to questions as we believe that communication is essential to nation-building.

The Bangsamoro Government under the leadership of Chief Minister Ahod B. Ebrahim remains true to its call for moral governance.”

This means, he stressed, “that among the goals of the Bangsamoro Government during this transition pe-

riod is to establish the foundations for an inclusive, transparent, accountable, responsive, and efficient governance.”

He concluded: “We have never forgotten the tribulations we had to traverse in order to attain this level of autonomy. The memory is deeply embedded in our consciousness. What we have is the product of 17 long years of difficult negotiations. What’s more crucial is that our elders shed decades worth of tears and blood. If there is a push for an extension of the transition period, it is because we want to preserve the gains of the peace process and ensure that the sacrifices of our martyrs will not be in vain. At the end of the day, this is about uplifting the lives of our people and fulfilling the Bangsamoro dream.”

Agriculture/Commodities BusinessMirror

www.businessmirror.com.ph

Editor: Jennifer A. Ng • Monday, July 19, 2021 A5

PHL wants to hasten WTO talks on fishing rules

T

By Tyrone Jasper C. Piad

@TyronePiad

HE Philippines is pushing for the immediate conclusion of World Trade Organization (WTO) negotiations on fisheries subsidies amid declining global fish stocks.

In a recent virtual WTO ministerial meeting, top officials of the Department of Trade and Industry (DTI) and the Department of Agriculture (DA) have enjoined their fellow agriculture and trade ministers to hasten negotiations to finalize new disciplines that will eliminate subsidies which contribute to illegal, unreported and unregulated (IUU) fishing, overfished stocks, and overcapacity and overfishing.

“The Philippines stands together with other WTO member-countries who are committed to deliver an outcome in the fisheries subsidy negotiations ahead of the 12th WTO Ministerial Conference (MC12) in December this year,” Trade Secretary

Ramon M. Lopez said. “This will only be possible if there is solid political will and diplomatic flexibility in the negotiations.”

Agriculture Secretary William D. Dar said “the current draft text of the agreement contains a carve-out that if a prohibited subsidy occurs in disputed waters, it will not be addressed by a WTO panel, as this will provide a loophole for countries involved in maritime disputes to be exempted from the disciplines.”

With this, Dar urged the members to “reconsider the current language.”

“Issues of territorial claims or delimitation of maritime boundaries or zones are of the highest concern for the Philippines, but nothing must

IN this BusinessMirror file photo, fish is unloaded from a commercial fishing boat.

prohibit a duly constituted panel from hearing a case.”

Dar also noted that the “flex-

ibility and exemptions for poor and vulnerable artisanal fishers in developing countries and least-

developed countries should not create a permanent exception from effective disciplines to address

overcapacity and overfishing.”

Based on the latest data from United Nations Food and Agriculture Organization, the depleting fish stocks can worsen poverty and endanger coastal communities that rely on fishing.

The UN agency said one-third of the global fish stocks were overfished, an increase from 10 percent in 1970 and 27 percent in 2000.

The WTO noted that negotiations on the matter have been ongoing for about two decades already.

One of the “thorniest issues” it must resolve concerns the setting provision of special and differential treatment to developing and least developed countries while ensuring sustainability of the oceans.

“One fundamental conclusion that I draw from your interventions today is that members are ready to use the text as the basis for future negotiations. A second takeaway from today was that there is universal agreement about the importance of the food and livelihood security of artisanal fishers in developing and least developed countries,” WTO Director General Ngozi Okonjo-Iweala said.

Senator protests high pork prices, Congress asked to restore tariff rates

S

TRESSING the need to protect consumers and hog raisers, Senator Francis N. Pangilinan vowed to press Congress to restore the original tariff rates on pork soon as lawmakers reconvene on July 26.

Citing mounting consumer complaints, Pangilinan said pork prices remained high “despite lower tariff on imports.”

This prompted Pangilinan to seek the restoration of tariffs to its original 20- to 30-percent levels, adding this will also “help hog raisers recover from the African swine fever [ASF] that wiped out their stocks.”

The Senator recalled it has been three months since the last downward adjustment of pork tariffs but their prices remained high, lamenting that “our local hog raisers are still suffering.”

Pangilinan said the pledge to bring down prices was like “written in water” adding this is why they intend to push for an upward adjustment of the original rate of tariff for imported pork when Congress reopens.

“The promise of lower pork prices has not been fulfilled,” he said, vow-

ing to “raise again my recommendation to increase tariffs on imported pork to original rates.”

He cited available data from the Department of Agriculture (DA) recalling that as of July 9, the prevailing price per kilogram of pork ham (kasim) was P340, while that of pork belly (liempo) was at P380. Prices previously hit as high as P400.

“Three-hundred eighty is still high. Pre-ASF, pork per kilo costs about P240. Let’s support the local hog raisers and give them a fighting chance. With our current policy, only the importers are smiling while Filipino consumers continue to be on pork diet because they could not afford the high prices.”

At the same time, the senator recalled that last April, Executive Order 128 reduced the tariff rate on imported pork within the minimum access volume (MAV) from 30 percent to 5 percent in the first three months and to 10 percent in the 4th to 12th month. Tariff on pork imports outside the MAV was reduced from 40 percent to 15 percent for the first three months, then 20 percent

for the succeeding nine months.

He added the order was signed as the national government sought to curb rising pork prices and inflation due to the African swine fever, which hit several local hog raisers, affecting supply.

About a month later, Executive Order 133 was released, modifying the tariff rates on imported pork products. The new tariffs on pork imports under MAV would be 10 percent for the first three months, and 15 percent in the next nine months.

The tariff for pork imports outside MAV would be reduced to 20 percent for the first three months and 25 percent in the succeeding months.

The new rates were the result of a compromise between the country’s economic managers and senators who had raised local hog raisers’ concerns about the tariffs set in EO 128.

He said foregone revenues due to lower tariffs could reach P11.2 billion this year.

Pangilinan said ta xes that should have been collected from imported pork could have been used to assist more hog raisers earlier hit

DAR shortens process of securing clearance for transfer of private agri lands

T

HE Department of Agrarian Reform (DAR) has eliminated unnecessary procedures to streamline the process of securing clearances for the transfer of agricultural lands not covered by Comprehensive Agrarian Reform Program (CARP).

“We have reduced the number of processing days in compliance with certain provisions of the government which require the revision of existing rules and guidelines on the transfer of agricultural lands and also to adjust to the new normal brought about by the Covid-19 pandemic,” DAR Secretary John Castriciones said in a statement.

The DAR chief is referring to the following provisions: Republic Act (RA) 11032, or the “Ease of Doing Business and Efficient Government Service Delivery Act of 2018” which amends RA 9485 or the Anti-Red Tape Act of 2007; Proclamation No. 922, Series of 2020, “Declaring a State of Public Emergency Throughout the Philippines,”; Proclamation 929, Series of 2020, “Declaring a State of Calamity throughout the Philippines due to Corona Virus Disease 2019 (Covid-19),”; and RA No. 11494, otherwise known as “The Bayanihan Act II.” He said the administrative order

applies only to land transactions involving private agricultural lands which have not been issued with a Notice of Coverage (NOC). “ The issuance of the Land Transfer Clearance (LTC) on this Administrative Order excludes agricultural lands covered under any other agrarian reform program, under Presidential Decree (PD) 27, RA 6657, as amended, and land transactions with exemption/ exclusion/conversion orders issued by the DAR.” The applicant-transferor and transferee, or the duly authorized representative shall file a written application or request for the issuance of LTC before the DAR Provincial Office (DARPO) where the property is registered with the Register of Deeds.

“The DAR will not accept any written applications or requests filed personally or through e-mail unless all the mandatory documentary requirements and proof of payment of filing fee as specified under Section 10 are submitted and attached,” Castriciones said.

Castriciones said the electronic copy of all applications or requests and their annexes shall be accepted only in a PDF form. The DAR office shall subsequently require the

submission of the hard or printed copies of the submitted documents via registered mail or by personally submitting the same directly to the DAR to verify the authenticity of the documents.

The applicants may also store the files, applications, or requests and documentary requirements, in a portable storage device, such as USB flash drives, compact discs (CD), or digital versatile discs (DVDs) which should be properly labeled as to their contents and submit the same to the DARPO in a sealed envelope through the Postal Office or by any other accredited couriers.

A filing fee of P2,000 for every land transaction shall be collected by the issuing DARPO through its cashier or through online banking, and deposited to the Bureau of the Treasury local accounts.

“The applicants or any person adversely affected by the LTC may file an original Agrarian Law Implementation (ALI) case before the Office of the Regional Director pursuant to DAR AO 03, Series of 2017,” he said.

The duly signed Certification on the LTC issued by the PARPO II shall remain effective for a period of six months immediately after its issuance. Jonathan L. Mayuga

hard by ASF. “The Department of Agriculture can boast about flooding the super-

markets of imported pork, but who can afford them? Who buys them?

The question remains—did touted

government policy work for the Filipino consumers and the local industry?” Butch Fernandez

A6

The World BusinessMirror

Monday, July 19, 2021

Editor: Angel R. Calso

UK reports 54,674 new infections, most Covid-19 cases since January P

France: Thousands protest against vaccination, Covid-19 health passes

T

he UK reported 54,674 new Covid cases on Saturday, the most since January 15 as the spread of the Delta variant pushes infection rates near records for the entire pandemic. Hospitalizations rose to 3,964, the most since late March.

The success of the country’s vaccine drive has limited death counts under the latest wave, with 41 deaths reported Saturday, compared with more than 1,800 in a single day at the peak in January.

Meanwhile, British Health Secretary Sajid Javid said he tested positive for Covid-19, less than a month after returning to Prime Minister Boris Johnson’s cabinet to lead the government’s response to the pandemic.

Johnson may have to spend Monday, which he has dubbed “Freedom Day,” in self-isolation because he met Javid on Friday. The UK is due to remove virtually all coronavirus restrictions on July 19.

Key developments: Malaysia reports 12,528 new cases

Malaysia added 12,528 new coronavirus cases on Saturday, according to the health ministry, a day after the government decided not to extend tightened movement restrictions in Selangor.

The country’s most industrialized state accounted for the majority of cases, with 4,985 new infections, followed by capital city Kuala Lumpur at 1,740. Malaysia is struggling to curb new cases, which surpassed a record 13,000 for the first time on Thursday.

The country plans to ease restrictions for individuals who have been fully inoculated and may allow companies to be fully operational if their workers receive both doses of vaccine. Almost 13% of the population have been fully vaccinated, and the government aims to boost that to 60% by the end of September.

Thailand bans gatherings amid record cases

Thailand banned gatherings nationwide and may implement further restrictions as the country saw daily coronavirus cases and deaths surge to fresh records.

The Southeast Asian nation reported 10,082 new infections on Saturday, exceeding 10,000 for the first time, despite the imposition of lockdown-like restrictions since Monday. There were 141 deaths, data from the Center for Covid-19 Situation Administration show.

Jokowi urges ‘sense of crisis’ in world hotspot

Indonesia’s President Joko Widodo urged ministers to adopt a “sense of crisis” as the country overtook Brazil in daily coronavirus cases to become the worst in the world.

Jokow i, as the president is known, called off a paid vaccination plan and told state officials not to travel overseas after a wide public backlash, urging them to exercise “social sensitivity,” Cabinet Secretary Pramono Anung said.

Only the foreign minister and those given special permission by the president can travel abroad, he added. “The president has emphasized that in this period of emergency curbs, surely there must be a sense of crisis throughout all ministries, institutions and leaders,” Anung said.

Taiwan eyes easing lockdown

Taiwa n’s top hea lth of f icia l indicated he’s likely to lift softlockdown measures when they expire on July 26, giving a boost to

sectors struggling to stay af loat amid w idespread Cov id-19 restrictions.

Cases have fallen rapidly, and the Centers for Disease Control reported just eight new local infections Saturday, the first single-digit total since May 11.

Sydney tightens virus restrictions

Lockdown measures across Sydney are being tightened as authorities struggle to contain the Delta variant, with tougher rules applied to retail trading and some emerging local hotspots subject to extra movement restrictions.

The government ordered noncritical retail outlets to shutter from midnight. Construction work must cease until July 30, when the current lockdown order is due to end.

The state recorded 111 new cases on Saturday, including 29 that were infectious in the community despite being told to stay at home, bringing the total cases in the current outbreak to well over 1,000.

Supermarkets, pharmacists and banks are allowed to remain open.

NY daily cases above 1,000 again

New York state reported more than 1,000 new cases for the first time since mid-May, as a city council member called for renewed mask mandates in indoor public spaces.

“We need to reverse this trend,” City Councilman Mark D. Levine, who chairs the health committee, tweeted on Saturday.

This week, Los Angeles reimposed mask mandates indoors— regardless of vaccination status —and San Francisco and Las Vegas issued mask recommendations as cases driven by the Delta variant continue to rise. The variant now represents 41% of samples tested in New York City, a jump from 26% for the previous week.

Earlier this week, Mayor Bill de Blasio said there were no plans to reimpose mask mandates in New York City.

At the state level, 1,156 new infections were reported on Saturday

by Governor Andrew Cuomo after

daily case counts briefly dipped below 300 in June. The positive test rate has also been rising, to a seven-day average of 1.19%. Hospitalizations remain low, at 354, as do deaths, at 4.

France, UK tighten borders

France confirmed it’s toughening rules on travel and boosting border checks from Sunday in an effort to contain a spike in cases linked to the Covid-19 delta variant, and to avoid further lockdowns.

Travelers from the UK without proof of full vaccination must test negative for Covid-19 within 24 hours of travel, the prime minister’s office said in a statement. Late on Friday the UK said arrivals from France would need to quarantine for 10 days, beginning on Monday, regardless of vaccination status.

Reeling from the delta variant, the UK is now looking to contain the beta variant.

Non-fully vaccinated travelers from Spain, Portugal, Cyprus, the Netherlands and Greece, EU countries where cases are rising sharply, will also need a negative test taken less than 24 hours before arrival in France.

Visitors vaccinated with a version of the AstraZeneca Plc vaccine made by India’s Serum Institute will now be allowed to enter France, the statement said.

Olympics athletes’ village finds first case

The Tokyo Olympic Games registered its first coronavirus case at the athletes’ village, less than a week before the opening ceremony.

A foreign personnel member— not an athlete— tested positive and is in quarantine, a document from organizers showed on Saturday.

So far there have been 45 positive cases tied to the Tokyo Games, but this is the first to come from within the Olympic Village. The infections underscore the challenge for organizers who’ve pledged to provide a safe Olympics.

Prefectures surrounding Tokyo expanded an advisory limiting restaurant openings, alcohol sa les a nd spectator numbers.

Bloomberg News

ARIS — Over 100,000 people protested across France on Saturday against the government’s latest measures to push people to get vaccinated and curb rising infections by the Delta variant of the coronavirus.

In Paris, separate protest marches by the far-right and the far-left wound through different parts of the city. Demonstrations were also held in Strasbourg in the east, Lille in the north, Montpellier in the south and elsewhere.

Thousands of people answered calls to take to the streets by Florian Philippot, a fringe far-right politician and former right hand of Marine Le Pen who announced earlier this month that he would run in the 2022 presidential election. Gathered a stone’s throw away from the Louvre Museum, protesters chanted “Macron, clear off!”, “Freedom,” and banged metal spoons on saucepans.

While Philippot has organized small but regular protests against the government’s handling of the coronavirus crisis, Saturday’s demonstration drew a larger and more diverse crowd of people broadly disaffected with politics: yellow vest activists angry over perceived economic injustice, far-right supporters, medical staff and royalists.

They denounced the government’s decision on Monday to make vaccines compulsory for all health care workers, and to require a “health pass” proving people are fully vaccinated, have recently tested negative or recovered from the virus in order to access restaurants and other public venues. President Emmanuel Macron’s government is presenting a draft law Monday to enshrine the measures.

“I will never get vaccinated,” said Bruno Auquier, a 53-year-old town councilor who lives on the outskirts of Paris. “People need to wake up,” he said, questioning the safety of the vaccine.

While France already requires several vaccinations to enter public school, Auquier pledged to take his two children out of school if the coronavirus vaccine became mandatory. “These new measures are the last straw,” Auquier said.

The government warned of the continued spread of the Delta variant, which authorities fear could again put pressure on hospitals if not enough people are vaccinated against the virus. The pandemic has cost France more than 111,000 lives and deeply damaged the economy.

During a visit to a pop-up vaccination center in the southwest, Prime Minister Jean Castex exhort-

ed the French to stick together in order to overcome the crisis.

“There is only one solution: vaccination,” he said, stressing it “protects us, and will make us freer.”

At the Paris protest, a manual worker in his sixties expressed bitterness about jobs in his sector sent offshore. A 24-year-old royalist said he was there to demand “the return of God and the King.”

Lucien, a 28 -year-old retai l shop manager, said he wasn’t antivaccine, but thought that everyone should be able to do as they please with their own body. “The government is going too far,” he said. His 26-year-old friend Elise said, “I am vaccinated against diphtheria, tetanus, and polio. But the Covid vaccine is just too experimental.”

While a majority of French health care workers have had at least one vaccine dose, some are resisting the government’s decision to make vaccination compulsory for all staff in medical facilities.

At Saturday’s Paris protest, a 39-year-old green party supporter and hospital laboratory worker said she might resort to buying a fake vaccination certificate to avoid losing her job. A health care worker dressed as the Statue of Liberty called it “act of violence” to force people to get vaccinated.

In Montpellier, more than 1,000 people marched to the train station, chanting “Liberty!” and carrying signs reading “Our kids aren’t Guinea pigs.” Security officials closed the main entrance to travelers and a dozen police officers took posts in front.

T he I nter ior M i n i st r y sa id 114,000 people took part in protests nationwide.

Overnight on Friday, vandals ransacked a vaccination center in the southeast. Interior Minister Gérald Darmanin asked prefects and police chiefs to reinforce security for elected officials, after several complained they had received threats in recent days over the latest anti-Covid measures.

Vaccine hesitancy is considered widespread in France, though appears to have faded somewhat as 36 million French people have gotten coronavirus vaccine doses in recent months. Millions more have gotten injected or signed up for vaccinations since Monday’s announcement.

French health care workers have until Sept. 15 to get vaccinated. The requirement for Covid passes for all restaurants, bars, hospitals, shopping malls, trains, planes and other venues is being introduced in stages starting Wednesday. AP

Afghan ambassador’s daughter Europe flood death toll tops 160, costly rebuilding ahead brutally assaulted in Pakistan

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ERLIN—Rescue workers labored to deal with damage laid bare by receding water Saturday as the death toll from disastrous flooding in Western Europe rose above 160 and thoughts turned to the lengthy job of rebuilding communities devastated in minutes.

The death toll in western Germany’s Rhineland-Palatinate state, home to the badly hit Ahrweiler county, rose to 98. Another 43 people were confirmed dead in neighboring North Rhine-Westphalia state. Belgium’s national crisis center said the country’s confirmed death toll rose to 27.

Days of heavy rain turned normally minor rivers and streets into raging torrents this week and caused the disastrous flooding that swept away cars, engulfed homes and trapped residents.

Immediately after the floods hit on Wednesday and Thursday, German authorities listed large numbers of people as missing—something apparently caused in large part by confusion, multiple reporting and communications difficulties in the affected areas, some of which lacked electricity and telephone service.

By Saturday, authorities still feared finding more people dead, but said numbers unaccounted for had dropped constantly, without offering specific figures. In Belgium, 103 people were listed as missing Saturday, but the crisis center said lost or uncharged cellphones and people taken to hospitals without identification who hadn’t had an op-

Cars show up as the flood sinks on a road in Erftstadt, Germany on Saturday, July 17, 2021. Due to strong rainfalls the small Erft River went over the banks causing massive damages. AP Photo/Michael Probst

portunity to contact relatives were believed to be factors in the tally.

Meanwhile, the receding floodwaters eased access across much of the affected regions and revealed the extent of the damage.

“A lot of people have lost everything they spent their lives building up—their possessions, their home, the roof over their heads,” German President Frank-Walter Steinmeier said after meeting rescue workers and others in the town of Erftstadt.

“It may only be possible to clear up in weeks how much damage needs to be compensated,” he said.

Steinmeier said that people in the affected areas need continuing support.

“Many people here in these re-

gions have nothing left but their hope, and we must not disappoint this hope,” he said.

In Erftstadt, a town southwest of Cologne, a harrowing rescue effort unfolded on Friday when the ground in a neighborhood gave way. At least three houses and part of a mansion in the town’s Blessem district collapsed.

The German military used armored vehicles to clear away cars and trucks overwhelmed by the floodwaters on a nearby road, some of which remained at least partly submerged. Officials feared that some people didn’t manage to escape in Erftstadt, but no casualties were confirmed by Saturday afternoon.

In the Ahrweiler area, police warned of a potential risk from

downed power lines and urged curious visitors to stay away. They complained on Twitter that would-be sightseers were blocking some roads.

Around 700 people were evacuated from part of the German town of Wassenberg, on the Dutch border, after the breach of a dike on the Rur river.

Visiting Erftstadt with Steinmeier, North Rhine-Westphalia governor Armin Laschet promised to organize aid for those immediately affected “in the coming days.” He said regional and federal authorities would discuss in the coming days how to help rebuilding efforts. Chancellor Angela Merkel’s Cabinet plans to discuss the issue on Wednesday.

“We will do everything so that what needs to be rebuilt can be rebuilt,” Laschet said.

In eastern Belgium, many train lines and roads remained blocked.

European Commission President Ursula von der Leyen and Belgian Prime Minister Alexander De Croo visited flood-damaged towns Saturday.

A resident of the Belgian town of Herk-de-Stad said she put off sleeping to try to empty her house of water. “We have been pumping all night long trying to get the water out of the house,” Elke Lenaerts told broadcaster VTM. Parts of the southern Netherlands also experienced heavy flooding, though thousands of residents were allowed to return home after being evacuated on Thursday and Friday. AP

I

SLAMABAD—The daughter of Afghanistan’s ambassador to Pakistan was abducted in the middle of the Pakistani capital of Islamabad, held for several hours and brutally attacked, officials in both countries said Saturday.

No one has been arrested in connection with Friday’s assault on Silsila Alikhil, 26. The Afghan foreign ministry issued a statement demanding a quick investigation, saying she was “severely tortured.”

A hospital medical report, seen

by The Associated Press, said she suffered blows to her head, had rope marks on her wrists and legs and was badly beaten. There was a suspicion that she had several broken bones and X-rays were ordered, the report said.

The report also said her abductors held her for over five hours and that she was brought to the hospital in Islamabad by police. There were no details about the abduction itself or the circumstances of her release.

Pakistan called the attack “disturbing” and said that security at the residence of the Afghan ambassador in Islamabad has been reinforced.

The Afghan foreign ministry said it strongly condemns this “heinous act” and expressed concern for Afghan diplomats and their families in Pakistan.

Relations between the two countries are fraught with suspicion and animosity. They routinely trade accusations, w ith A fghanistan claiming Pakistan is sending thousands of jihadi militants to fight

in Afghanistan and providing safe haven for the Taliban. Pakistan in turn accuses Kabul of harboring the anti-Pakistani group Tehreeke-Taliban Pakistan—the Pakistani Taliban—and also the secessionist Baluchistan Liberation Army.

As violence escalates in Afghanistan with the withdrawal of US and NATO troops, some within the Afghan government have stepped up verbal assaults on Pakistan.

In Kabul, the Afghan foreign ministry summoned Pakistani Ambassador Mansoor Ahmad Khan on Saturday to lodge “a strong protest” over the attack. The ministry said it “explicitly called on the Pakistani government to take immediate action to identify and punish the perpetrators of this crime.”

A leading female senator in Pakistan, Sherry Rahman, condemned Friday’s attack and tweeted that “the Afghanistan Ambassador’s daughter is a young woman, and should not face ANY obstacle in walking about in central Islamabad, plus more importantly, she is entitled to diplomatic protection in Pakistan.”

Hamid Mir, a well-known Pakistani journalist who survived a 2014 shooting in the southern port city of Karachi asked in a tweet how something like this could happen in Islamabad. “What is the use of expensive safe city cameras?”

He also noted that Pakistani journalists and even a police officer have been abducted in Islamabad, with few culprits ever arrested. AP

The World BusinessMirror

www.businessmirror.com.ph

Biden grappling with ‘pandemic of the unvaccinated;’ cases triple

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A SHING T O N —Tw o weeks after celebrating America’s near “independence” from the coronavirus, President Joe Biden is confronting the worrying reality of rising cases and deaths—and the limitations of his ability to combat the persistent vaccine hesitance responsible for the summer backslide.

Cases of Covid-19 have tripled over the past three weeks, and hospitalizations and deaths are rising among unvaccinated people. While the rates are still sharply down from their January highs, officials are concerned by the reversing trendlines and what they consider needless illness and death. And cases are expected to continue to rise in coming weeks.

While the national emergency may have faded, officials say the outbreak is now a more localized crisis in communities where not enough people have rolled up their sleeves.

“Look, the only pandemic we have is among the unvaccinated,” Biden said Friday, echoing comments made earlier in the day by Dr. Rochelle Walensky, director of the Centers for Disease Control and Prevention.

The rising numbers are being driven by large pockets of infection among the more than 90 million eligible Americans who have yet to get shots. Just four states with low vaccination rates made up 40% of

South Korea to bring home sailors aboard Covid-hit navy destroyer

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EOUL, South Korea—South Korea is sending militar y aircraft on Sunday to replace the entire 300-member crew of a nav y destroyer on an anti-piracy mission off East Africa after nearly 70 of them tested positive for the coronavirus, officials said.

Two multi-role aerial tankers will bring home 300 sailors aboard t he 4 ,4 0 0 -ton- c l a ss dest royer Munmu the Great, Joint Chiefs of Staff and Defense Ministry officials said, requesting anonymity citing department rules.

They said 68 sailors have so far tested positive and the results on 200 of the 300 crew are still pending.

Fifteen sailors are hospitalized in an African country that the officials did not name, while the rest were on the destroyer. None has been vaccinated for Covid-19 as they left South Korea in early February, before the start of the vaccination campaign, according to health and military officials.

The cause of infections hasn’t been officially announced. But military authorities suspect the virus might have spread when the destroyer docked at a harbor in the region to load goods in late June.

The replacement crew of 150 navy personnel will arrive aboard the aerial tankers and move to the destroyer that’s anchored at sea to sail it back to South Korea on a journey that takes about a month, according to the Joint Chiefs of Staff.

Local media reported that the infected sailors will arrive home as early as Tuesday night.

South Korea has taken part in anti-piracy operations in the Gulf of Aden since 2009. Officials said the Munmu the Great was to be replaced with another destroyer next month following a six-month rotational deployment.

The second destroyer is on its way to the area.

O n S u n d a y, S o u t h K o r e a’s health authorities reported 1,454 new cases, taking the country’s t o t a l t o 17 7, 9 51 w i t h 2 , 0 5 7 deaths. AP

new cases last week, and nearly half of them came from Florida alone.

But there is little appetite in the White House for a return to broad mandates for masks or other measures, as 161 million Americans are already fully vaccinated.

Reflecting that mindset, Walensky said Friday that in low-vaccination areas with rising cases, “local policymakers might consider whether masking at that point would be something that would be helpful for their community.”

Some communities are acting.

Los Angeles County on Thursday reinstituted its requirement that masks be worn in most indoor settings regardless of vaccination status, and health officials in Las Vegas recommended on Friday that workers and patrons in the tourism hotspot wear face coverings while inside.

With three highly effective vaccines authorized for use in the US, the Biden administration believes the most effective way to attack the virus is not trying to slow the spread with mass masking and such—something the US showed it was not very good at last year—but to continue to press the importance of vaccinations.

It’s no easy fix. Many Americans remain resistant or unmotivated to get shots, despite months of oftencreative efforts by federal and state officials and the private sector to spread information about vaccine safety and accessibility.

Surgeon General Vivek Murthy added that while government can play an important role, “this has got to be an ‘all of the above’ strategy with everybody in,” including schools, employers, technology companies and individuals.

In recent days, the administration has turned its focus to younger Americans. It enlisted pop star Olivia Rodrigo for a day-long White House visit Wednesday with Biden and top infectious disease expert Dr. Anthony Fauci that was heavily documented for social media.

Younger people are at lowest risk of adverse outcomes from the virus and have proven to be among the least likely to get vaccinated.

But another huge group has proven to be an even more vexing challenge: Republicans. The White House has long acknowledged that, given rampant disinformation about the vaccines and the nation’s partisan divides, it would have little success convincing the GOP to get on board. Instead, administration officials have amped up criticism in recent days of public officials and social media companies for spreading or not condemning vaccine misinformation spreading among the GOP. “They’re killing people,” Biden said Friday of social media companies. A day earlier, Murthy, the surgeon general, warned that false information about vaccines spreading on platforms such as Facebook posed a public health

risk to the nation.

“We will not be distracted by accusations which aren’t supported by the facts,” Facebook spokesman Kevin McAlister said in a statement. “The fact is that more than 2 billion people have viewed authoritative information about Covid-19 and vaccines on Facebook, which is more than any other place on the Internet.”

The new government expression of frustration comes amid near disbelief that tens of millions of Americans continue to refuse to get vaccinated, needlessly extending the pandemic and costing lives, as health officials emphasize that nearly all serious cases and deaths are now preventable.

More than 99% of Covid-19 deaths and 97% of hospitalizations are among people who have not been vaccinated, according to the CDC. The pandemic is now “one that predominantly threatens unvaccinated people,” White House Covid-19 coordinator Jeff Zients said Friday.

He said the Biden administration expects cases to increase in the weeks ahead because of spreading in communities with low vaccination rates. But Zients added that there is a sign that the increased cases are driving more people in those communities to seek vaccination, reporting that “states with the highest case rates are seeing their vaccination rates go up” faster than the national average. AP

South Africa mops up after violent protests shake nation

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lean-up operations continue in South Africa after violent unrest was stemmed by military intervention, with major roads reopened across KwaZuluNatal and Gauteng provinces.

At least 212 people died during a week of mayhem, hundreds of shops were looted, and key infrastructure was damaged or destroyed, potentially slowing South Africa’s recovery from 2020’s downturn.

South African President Cyril Ramaphosa authorized the deployment of 25,000 troops to restore calm. The month-long operation is expected to cost 615.7 million rand ($42.7 million).

The protests followed ex-President Jacob Zuma’s incarceration on contempt-of-court charges, and broadened as poor communities took to the streets to vent their anger over sub-standard living conditions.

The actions coincided with various measures taken to control a third wave of coronavirus infections that have pushed hospitals to capacity.

South Africa has been on virus alert level 4, its second highest, since late June, with public gatherings theoretically banned. The rioting halted Covid-19 vaccinations in two key provinces.

“Calm has returned and is returning to most of these areas,” Ramaphosa said Friday in a televised address, his third since the unrest began. “We will extinguish the fires that are still raging and we will stamp out every last ember.”

Ramaphosa said “a good number” of the alleged instigators had been identified. He said the unrest, far from being spontaneous, had been “planned and coordinated.”

South Africa faces a long haul to restore battered investor confidence. While the rand gained 1.1% against the dollar on Friday as calm was restored, it still fell 1.5% on the week. The FTSE/JSE Africa Top40 Index fell 1.6% on Friday.

Government officials met the chief executive officers of 34 of the nation’s biggest companies on Thursday to discuss the situation, acting Minister in the Presidency Khumbudzo Ntshavheni told reporters.

Gross domestic product will likely shrink in the third quarter, while delays in the vaccination program could result in new infections, Annabel Bishop, chief economist at Investec Bank Ltd. said in an emailed note. Business and consumer confidence has been “decimated,” she wrote.

Deutsche Bank AG sees the unrest shaving 0.8 of a percentage point off South Africa’s economic growth rate this year. In June, the World Bank forecast South African GDP to grow 3.5% in 2021 after tumbling 7% in 2020, the most in a century.

On Friday, Mozambique President Filipe Nyusi, chairman of the Southern African Development Community, warned of a broader regional economic impact should unrest flare up again.

Food, medicines and fuel remain in short supply in several towns in KwaZulu-Natal following the shuttering of hundreds of retail outlets and disruption of traffic on key transport routes.

The government has received reports of extensive damage being done to 161 malls, 11 warehouses, eight factories and 161 liquor outlets and distributors.

The South African Council of Churches on Friday urged the government to initiate a limited amnesty during which people could return looted property to police without facing charges.

In Port Shepstone, south of Durban, long lines of people waited outside shopping centers to buy food on Friday. Government buildings and almost all stores other than grocery outlets remained shut. There was a heavy presence of soldiers on the town’s streets, and metropolitan police officers and civilians manned roadblocks at key access points.

Ramaphosa described the violence as a deliberate and orchestrated assault on South Africa’s democracy. “ Through social media, fake news and misinformation they have sought to inflame racial tensions and violence,” he said. “This attempted insurrection has failed to gain popular support among our people. It has failed because of the efforts of our security forces and because South Africans have rejected it.” Bloomberg News

Divers search for 14 people in flooded tunnel in China

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EIJING—Divers have been dispatched in the search for 14 workers missing since water flooded a tunnel under construction in southern China three days ago, authorities said Sunday.

Zhang Yisheng, the vice mayor of Zhuhai city, told a news conference that the water level in the tunnel had dropped by 11.3 meters (37 feet), according to an online report by state broadcaster CCTV. Underwater robots, unmanned ships and sonar detectors would also be deployed, Zhang said.

Search teams have been slowly advancing into the tunnel as water

is pumped out. As of Sunday morning, they had gotten about 600 meters (650 yards) into the tunnel, a little more than half the 1.1-kilometer (1,200-yard) distance to where the workers were trapped.

That is the length of the 1.8-kilometer expressway tunnel that has been dug so far.

Their advance has been slowed by carbon monoxide fumes from machinery being used in the tunnel as part of the operation, though the level of the potential deadly gas has been lowered by improving ventilation.

The flood happened about 3:30

a.m. Thursday. An abnormal noise was heard and bits of material started falling off on one side of the two-tube tunnel. An evacuation was ordered. Water rushed in and flowed through a connection into the other tube of the tunnel, trapping 14 workers on that side.

The tunnel lies under a reservoir, but the cause of the accident is still under investigation.

In March, two workers died in another part of the tunnel when a protective wall collapsed and they were hit by falling stones, according to a notice from the Zhuhai emergency management department. AP

Monday, July 19, 2021

A7

Growing California wildfire prompts evacuations; Oregon blaze balloons

Firefighters battle the Tamarack Fire in the Markleeville community of Alpine County, California on Saturday, July 17, 2021. AP Photo/Noah Berger

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AN FR ANCISCO—A rapidly grow ing w ildfire south of Lake Tahoe jumped a highway, prompting more evacuation orders and the cancellation of an extreme bike ride through the Sierra Nevada on Saturday as critically dangerous wildfire weather loomed in the coming days.

The Tamarack Fire, which was sparked by lightning on July 4, exploded overnight and was over 32 square miles (82 square kilometers) as of Saturday evening, according to the Humboldt-Toiyabe National Forest. The blaze was threatening Markleeville, a small town close to the California-Nevada state line. It has destroyed at least three structures, authorities said, and was burning toward the Alpine County Airport after jumping a highway.

A notice posted on the 103-mile (165-kilometer) Death Ride’s website said several communities in the area had been evacuated and ordered all riders to clear the area. The fire left thousands of bikers and spectators stranded in the small town and racing to get out.

Kelli Pennington and her family were camping near the town Friday so her husband could participate in his ninth ride when they were told to leave. They had been watching smoke develop over the course of the day, but were caught off guard by the fire’s quick spread.

“It happened so fast,” Pennington said. “We left our tents, hammock and some foods, but we got most of our things, shoved our two kids in the car and left.”

Saturday’s ride was supposed to mark the 40th Death Ride, which attracts thousands of cyclists to the region each year to ride through three mountain passes in the socalled California Alps. It was canceled last year during the coronavirus outbreak.

Paul Burgess, who drove from Los Angeles to participate in the ride, said most of the cyclists he met were thankful to steer clear of the fire danger.

“They just said this is just how it goes,” Burgess said. “It’s part of climate change to a certain extent, it’s part of just a lot of fuels that are not burnt, the humidity is low, the fuel moisture levels are low, and ... around the state, many parts of it are much like a tinderbox.”

Afternoon winds blowing at 20 to 30 mph (32 to 48 kph) fanned the flames as they chewed through bone-dry timber and brush. Meteorologists predicted critically dangerous fire weather through at least Monday in both California and southern Oregon, where the largest wildfire in the US continued to race through bone-dry forests.

The Bootleg Fire grew significantly overnight Saturday as dry and windy conditions took hold in the area, but containment of the inferno more than tripled as firefighters began to gain more control along its western flank. The fire was still burning rapidly and dangerously along its southern and eastern flanks, however, and authorities expanded evacuations in a largely rural area of lakes and wildlife refuges.

The fire is now 439 square miles (1,137 square kilometers) in size, or more than 100 square miles larger than the area of New York City.

“This fire is large and moving so fast, every day it progresses 4 to 5

miles,” said Incident Commander Joe Hassel. “One of the many challenges that our firefighters face every day is working in new country that can present new hazards all the time.”

Extremely dry conditions and heat waves tied to climate change have swept the region, making wildfires harder to fight. Climate change has made the West much warmer and drier in the past 30 years and will continue to make weather more extreme and wildfires more frequent and destructive.

In southern Oregon, fire crews have dealt with dangerous and extreme fire conditions, including massive “fire clouds” that rise up to 6 miles (10 kilometers) above the blaze. The Bootleg Fire has destroyed at least 67 homes and 117 outbuildings.

The conf lagration has forced 2,000 people to evacuate and is threatening 5,000 buildings, including homes and smaller structures in a rural area just north of the California border.

The Tamarack Fire sent heavy smoke over Lake Tahoe and into Nevada.

The National Weather Service warned of possible thunderstorms stretching from the California coast to northern Montana on Sunday and that “new lightning ignitions” are likely because of extremely dry fuels across the West.

Firefighters said in July they were facing conditions more typical of late summer or fall.

The fires were just two of numerous fires burning across the drought-stricken US West, as new fires popped up or grew rapidly in Oregon and California.

There were 70 active large fires and complexes of multiple fires that have burned nearly 1,659 square miles (4,297 square kilometers) in the US, the National Interagency Fire Center said. The US Forest Service said at least 16 major fires were burning in the Pacific Northwest alone.

A fire in the mountains of northeast Oregon was also growing rapidly and was 17 square miles (44 square kilometers) in size on Saturday. The Elbow Creek fire started Thursday and has prompted evacuations in several small, rural communities around the Grande Ronde River about 30 miles (50 kilometers) southeast of Walla Walla, Washington.

Oregon Gov. Kate Brown invoked the Emergency Conflagration Act to mobilize more firefighters and equipment to help fight that fire.

The Dixie Fire, near the 2018 site of the deadliest fire in the US in recent memory, was 5% contained and covered 39 square miles Saturday.

The fire was in the Feather River Canyon, northeast of the town of Paradise, California, and survivors of that horrific fire that killed 85 people watched warily as the new blaze burned.

Officials ordered the evacuation of a wilderness recreation area and kept in place a warning for residents of the tiny communities of Pulga and east Concow to be ready to leave.

“We’re prepared,” said Mike Garappo, a retired military veteran.

“We’ve dealt with fires living in the mountains forever. We know there’s a chance it may not hit here, but we’re ready to go in case.” AP

A10 Monday, July 19, 2021

Climate change is a human rights crisis, says UN reso I

By Recto Mercene

@rectomercene

F highly developed economies are not spared from the effects of climate change—as seen in recent floods that killed over 160 people in Europe and the wildfires in California—vulnerable countries should be even more aggressive in demanding the speedy adoption of measures to mitigate global warming that fuels climate change.

This in effect is what happened when the UN Human Rights Council in Geneva adopted recently a resolution, initiated by the Philippines, recognizing climate change as a human-rights crisis, particularly among the most vulnerable.

Co-signatory with the Philippines are Bangladesh and Vietnam. Dhaka and Hanoi, which are apparel producing cities, like Ho Chi Minh City, and Guangzhou, China, are projected to be underwater by 2030, according to two Cornell researchers commissioned by the International Labour Organization (ILO).

The UN Council encouraged continued discussions among States and relevant stakeholders on the possible creation of a new Special Procedure addressing the adverse impact of climate change on the full and effective enjoyment of human rights.

It also decided to incorporate into its annual program of work, begin-

ning in 2023, sufficient time for at a minimum a panel discussion, to discuss different specific themes on the adverse impacts of climate change on human rights.

The researchers warned that the problem of rising sea levels is receiving little attention from those leading sustainability efforts in the sector.

Reacting to the adoption of the Philippine resolution, Denise Fontanilla, associate for policy advocacy of the Manila-based climate and energy policy group Institute for Climate and Sustainable Cities (ICSC), said: “We congratulate the Department of Foreign Affairs and the Philippine Mission in Geneva for championing human rights and climate action, which led to yesterday’s adoption of the resolution.”

Fontanilla added: “As a climatevulnerable country, we are heartened by the efforts of the Philippines and other members of the Climate Vul-

nerable Forum (CVF) — particularly Bangladesh, Vietnam, and the Marshall Islands—to address climate change on all fronts, mobilizing not only their climate and environment ministries but also their finance ministries and diplomatic missions.

“Countries vulnerable to climate change continue to lead the fight by offering financial instruments aimed at drawing down the cost of capital for transforming their economies, and by establishing the fact of massive human-rights violations in the face of global inaction. The larger question is whether developed countries can live up to their so-called global leadership.”

According to the ICSC officer, “Members of the CVF expect the upcoming UN climate conference in Glasgow to come out with a climate emergency pact and a Delivery Plan to channel $500 billion over five years, without any loans, and at least half of which should go to adaptation.”

She warned that “by failing to deliver the annual $100 billion they committed, developed countries are very much a party to the gross violation of human rights among communities that are deprived of the means to transition to resilient, low carbon development rapidly.”

Deputy Speaker Loren Legarda, Climate Vulnerable Forum Ambassador for Parliaments, called for a

plan to deliver “$500 billion over five years” to ensure the success of the Glasgow climate talks.

“In the midst of a worsening climate crisis, it is vital to restate the reminder—winning slowly is losing, standing still is moving backwards. As we near the 26th round of climate treaty negotiations in Glasgow in November, world leaders need reminding as well that we expect action on mitigation, adaptation, finance, loss and damage, and means of implementation together. Drop one item from these five points and we court failure, which is unacceptable,” said the congresswoman.

Legarda, said, “anything less and the COP26 leadership will be inviting the toxic politics that have plagued the negotiations during the Kyoto Protocol period.”

The Manila-initiated UNHRC Resolution also paves the way for the establishment of a UN Special Rapporteur on Human Rights and Climate Change to investigate the adverse effects of climate change on human rights, such as the right to food, to health, and to life.

Forty-six HRC countries including the Philippines voted in favor of the resolution, with Russia as the lone abstention, as the Council wrapped up its 47th regular session.

The results of the vote showed 46 countries in favor and zero against.

ILLEGALLY RECRUITED MOM FROM PAMPANGA, LATEST IN LONG LIST OF ABUSED OFWS

By Recto Mercene @rectomercene

M

A R I A S hiegrid Santos, or simply “Grace” to family and friends, has become one of the latest victims of alleged abuse by an employer.

Her body is undergoing forensic investigation in a morgue in the United Arab Emirates and cannot be shipped home immediately.

The family was informed of her demise by the Overseas Workers Welfare Administration (OWWA) last July 2, 2021, according to Grace’s daughter,

Pimentel, Pacquiao unfazed by Cusi-led moves in PDP Laban

By Butch Fernandez

@butchfBM

S

ENATOR Aquilino “Koko” Pimentel III said he is determined to protect the ruling Partido Demokratiko PilipinoLakas ng Bayan (PDP Laban) as the party his father cofounded plunged into deeper turmoil at the weekend with the holding of a national assembly that he and his ally, Sen. Manny Pacquiao, had called “unauthorized.”

He also reiterated his explanation over why Pacquiao assumed the post of PDP president in December, an event that President Duterte, the party chairman, said Pimentel triggered when he stepped down from his post and Pacquiao, then executive vice president, took his place “The most critical person in a party is the party president. So you cannot keep important things from him [Pacquiao],” Pimentel III said in a radio interview on Sunday, as he insisted that the faction led by party vice chairman Alfonso Cusi had no right to call the July 17 assembly without the blessing of Pacquiao, who is in the United States preparing for his August bout with Errol Spence.

Cusi, the energy secretary who had tangled with senators over his alleged bungling that they blamed for the unscheduled brownouts in Luzon on May 31 and early June, was elected president of PDP Laban last Saturday after Cusi’s camp declared 16 top positions vacant, including those of Pacquiao.

Pimentel and Pacquiao said in separate statements they will assert their right to call their own assembly in September, indicating the party squabbles would reach the Commission on Elections, which starts receiving party nominations for 2022 poll candidates by October.

Blamed by Duterte

Reminded that he was being

blamed by Duterte for splitting the PDP in installing Pacquiao to the top party post, Pimentel III asserted he did not appoint the neophyte senator.

He explained that it was a function of “automatic succession” that Pacquiao should ascend to presidency because he [Pimentel III] stepped down” as party president in December 2020.

Speaking mostly in Filipino, Pimentel III clarified he opted to step down “because Cusi kept criticizing the way I was running the party, so I thought if I step down and the party’s Executive Vice President [Pacquiao] takes my place, it would be better...because Pacquiao is 15 years younger” and could have a “fresh eye” in handling the group.

Pimentel added that he did not realize that Cusi himself (then the party vice chairman), was “aspiring” to be (party) president.

Pimentel III expected that “by stepping aside, and allowing the younger blood [Pacquiao] to take over, I thought it would be good for the party. But they [Cusi camp] panicked. Why? What is his plan?”

At the same time, Pimentel noted that Cusi is “not an executive official of the party—he is just vice chairman-— but he started making the rounds, talking to people, organizing meetings. I don’t know what his plans are.”

Moreover, the administrationallied lawmaker lamented the presidential jabs at PDP Laban and at him and his late father, former Senate President Aquilino Jr. or Nen Pimentel, a cofounder of the party that was born in Mindanao in the early eighties at the height of the Marcos dictatorship.

Pimentel admitted that “masakit mabanatan ng taong tinulungan mo [it hurts to be hit by someone you helped],” but insisted he would not hit back at Duterte, who has serious matters to attend to.

Continued on A2

Mariel. The Sharjah police said they received the report of her death on June 24, 2021.

Grace’s husband Ariel and Mariel were presented to the media by Migrante International in a zoom conference on Friday to give an account of her deployment—by an illegal recruiter—to the Middle East, until her untimely death under questionable circumstances.

Grace, 40, was from Pola, Oriental Mindoro, but stayed in her husband’s hometown in San Luis, Pampanga. They have five children.

Continued on A4

Bangsamoro govt insists: We’re working, are transparent

T

HE Bangsamoro government has disputed allegations of inefficiency and a lack of transparency in the use of millions in funding for the Bangsamoro regions’ development, ticking off completed projects and affirming full cooperation with state auditors.

The allegations against the Bangsamoro Government and its budget from a group calling itself Transform PH Alliance (TPA) were answered by Ameen Andrew L. Alonto, Executive Director of the Bangsamoro Information Office, in a letter to BusinessMirror. He noted that a group called Malayang Lipunan Movement had made similar allegations against the Bangsamoro Government in June.

Most issues were earlier addressed by the Bangsamoro Government spokesman, Atty. Naguib Sinarimbo, according to Alonto.

He par ticu larly took issue with the TPA’s claim that “All the BARMM government has are press releases announcing ribbon cuttings and plans, yet it’s been more than two years, so where are the deliverables, the finished projects?”

Majority of the ribbon cutting ceremonies being referred to are actually turnovers or inaugurations of completed projects, Alonto said.

For example, of the eight Covid-19 isolation facilities that were targeted in 2020, seven have already been completed. The Bangsamoro Government also expedited the completion and turnover of long delayed barangay health facilities and other infrastructure projects in the region, especially in Maguindanao, he added. “Through the cooperation and collaboration of the different ministries and offices of the Bangsamoro Government, procurement and turnover of 24 units of land ambulance, four units of sea ambulance, and two mobile clinics to the different local government units and hospitals across the region were also realized.

Continued on A4

Editor: Jennifer A. Ng

Companies BusinessMirror

Monday, July 19, 2021

B1

PLDT aims to reach far-flung areas via ‘cell site in the sky’

T

By Lorenz S. Marasigan

@lorenzmarasigan

elco titan PLDT Inc. and its subsidiary Smart Communications Inc. are studying the possibility of deploying space-based mobile broadband communications to reach far-flung areas in the Philippines.

This development comes after Smart signed a memorandum of understanding with AST SpaceMobile Inc., a US-based satellite company that is building a cellular broadband network in space.

“This innovative space-based cellular broadband communication connects directly to our cellphones; no special device is needed. As a supplement to our mobile coverage, this can fill the gap in providing our services to the deepest rural and remote areas in the country, so our customers

can remain connected,” said Mario G. Tamayo, Head of Technology at PLDT and Smart.

He noted that the “cell site in the sky” will complement the group’s 4G and 5G rollout, as satellite broadband provides an alternative source of connection for a “disaster-prone” country like the Philippines.

Once launched, the service is expected to cover hard-to-reach areas, enabling online learning for students, e-commerce and online banking for indigenous peoples in

the mountains and farmers in rural areas, and cater to Filipinos out at sea.

“In this latest innovation, LowEarth Orbit satellites of AST SpaceMobile will be explored to deliver 4G and 5G signal to mobile devices of Smart customers. Compared to GEO satellites, LEO satellites are significantly closer to earth at around 700 kms, allowing them to deliver higher bandwidth with lower latency and communicate with regular smartphones, “ said Arvin L. Siena, Head of Technology Strategy and Transformation Office at PLDT and Smart.

Smart has signed a memorandum of understanding (MOU) with AST SpaceMobile Inc., an American company that is building the first and only space-based cellular broadband network.

Under the MOU, the two companies will “explore opportunities” for the introduction of space-based cellular broadband services in rural areas in the Philippines.

“Our collaboration with Smart to look into opportunities to offer the SpaceMobile service to their

customers in rural communities would allow the company to offer affordable broadband cellular access to the unconnected for the first time ever,” said Abel Avellan, chairman and CEO of AST SpaceMobile.This new agreement with Smart adds to SpaceMobile’s existing agreements and understandings with mobile network operators which collectively cover approximately 1.4 billion mobile subscribers.

“This collaboration between Smart and AST SpaceMobile strongly supports this vision, as we continue to invest in our networks and explore the most relevant innovations that will enable us to continue expanding the reach of our services alongside delivering exceptional customer experience across the Philippines’s more than 7,000 islands,” Smart President Alfredo S. Panlilio said.

He added that the new satellite communications technology will help his group to connect “the entire nation” to the Internet.

D&L bond offer gets top credit rating A

local credit rating firm has assigned its highest score with a stable outlook to the planned P5-billion maiden bond issuance of chemical manufacturer D&L Industries Inc. Philippine Rating Services Corp. gave the company a credit rating of PRS Aaa, the highest score with minimal credit risk. It said D&L’s capacity to meet its financial commitment on the obligation is “extremely strong.”

The ratings are based on the company’s strong market position in the industries that it is engaged in; diversification of products offered and markets served; and the bulk of D&L’s revenues are from innovation-driven, high margin specialty products, protecting the company from keen competition and ensuring continued demand for its products.

The ratings firm said D&L’s revenues have been fluctuating historically although net income was generally on an uptrend prior to the pandemic and margins were maintained within a narrow band while it practices conservative debt management and adequate cash flow generation.

“The observed fluctuations in revenues largely follow the nature of D&L’s business. The movements in commodity prices of raw materials caused by factors beyond the control of the company have affected revenue levels historically. The changes in commodity prices are passed on to customers following the company’s pass-through pricing mechanism, thereby subjecting its revenue base to corresponding fluctuations,” the local ratings firm said.

The company’s bond float consists of P3 billion in base offer and an

PHLPost speeds up delivery

SMC power unit plants 2.7M trees

T

he Philippine Post Office (PHLPost) has removed notification cards as part of its “Hatid Malasakit” program to speed up the delivery of mails and parcels.

The public including their families abroad can now expect faster, safe and convenient door-to-door delivery of mails and parcels. The Philippine Postal Corp. (Post Office) headed by Postmaster General Norman Fulgencio terminated the 75-year-old practice of sending notification which causes delays in parcel delivery.

“This time, our clients can now expect safe and convenient door-todoor delivery of their parcels minus the Notification Cards,” Fulgencio said in a statement. In previous practice, the addressee or recipient has to receive a Notification Card before a parcel can be picked up at the post office. Sometimes, a notification card can be received in 2 or 3 months which causes delays on the part of the recipient in claiming the parcel.

“We immediately stopped this practice in order to provide safety and convenience to the mailing public who patronizes our post office services.”

A

oversubscription option of P2 billion.

The bonds may be offered in series A bonds due in 2024 and series b bonds due in 2026.

China Bank Capital Corp. has been mandated as its sole issue manager, lead underwriter and sole bookrunner The bonds shall be issued in scripless form and in denominations of P50,000 each, as a minimum, and in integral multiples of P10,000 thereafter, and traded in denominations of P10,000 in the secondary market.

The bonds will be listed on the Philippine Dealing and Exchange Corp.

According to its initial schedule, rate setting is on August 18, public offer period is from August 24 to 31, and listing date is on September 7.

Proceeds of the bonds will be used to pay for the loans it used for its new facility in Batangas.

longside plans to push for the use of cleaner energy, SMC Global Power Holdings Corp. (SMCGP) said it has planted a total of 2.7 million seedlings and propagules in two years.

The power firm said over the weekend that this move is part of a reforestation and carbon capture program dubbed Project 747, which aims to plant seven million trees over 4,000 hectares in at least seven provinces to help mitigate climate change.

The project, which aims to plant a million trees every year, complements SMCGP’s goal of adding cleaner and renewable power facilities to its power portfolio after dropping plans to put up three clean-coal power plants with a capacity of 1,500 MW, as part of San Miguel Corp.’s (SMC) larger sustainability goals.

“Through massive reforestation, we can help mitigate the impacts of climate change. Over the past couple of years, we have also been utilizing the best and most modern technologies to minimize our impact on the environment, even as we try to provide for our country’s growing need for reliable and affordable power,” said SMC President Ramon S. Ang. Recently, SMC announced that SMCGP is nearing completion on a number of battery energy storage system (BESS) facilities it is building in various locations across the country. Between 2021 and 2022, the company is looking to complete a total of 31 BESS facilities that will not only improve power reliability throughout the country, but will also make way for the integration of some 3,000 megawatts of intermittent renewable power into the grid.

SMC has also announced that it is building solar plants equipped with BESS facilities at

“Capital expenditures related to the Batangas expansion project has been ongoing since the past year.

Prior to the offer, the company funded the project costs through bridge financing of short term loans from its partner banks. D&L intends to repay these bridge loans from the proceeds of the offer,” the company said.

“It’s more conservative to have some long-term debt considering we have some long-term assets that we have to finance like the construction in Batangas plant. So that’s why issuing the bond seems to make more sense [than doing a preferred share sale or private placement],” Alvin Lao, the company’s president and CEO, said. VG Cabuag

10 locations. A liquefied natural gas plant and some hydroelectric power plants, are also in the pipeline as part of its move towards cleaner and renewable technologies.

“As with our other initiatives, this massive tree-planting project represents our commitment to environmental stewardship. With each of our business units pursuing sustainability programs and engaging their respective communities to help out, I am confident we can collectively achieve a lot in the next couple of years in terms of meeting our climate goals,” Ang said.

As of July 9, SMCGP had completed planting 780,214 seedlings out of the 1.1 million targeted for this year over 268 hectares of land in Zambales, Davao Occidental, Bataan, Negros Occidental, Pangasinan, Albay, and Quezon province.

Planting of the remaining 320,000 trees is expected to be completed by September in these seven provinces and Bulacan. From 2019 to 2020, the company, together with farmer and fisherfolk organizations at or near planting sites, had planted 1,994,988 seedlings and propagules. Ang underscored the importance of community involvement in the reforestation project. Project 747, he said, is a partnership with some 24 fisherfolk and farmers’ organizations, which help in identifying indigenous tree varieties for planting, and are key to nurturing the young trees and ensuring high survival rates.

Tree varieties in the upland plantation are narra, molave, white lauan, palosapis, agoho, batino, igang, and malabayabas while mangrove varieties include bakawan babae, bakawan lalaki, bungalon, and api-api. The survival rates of upland trees and mangrove propagules planted are at 89 and 91 percent, respectively. Lenie Lectura

Nlex hastens rehab of Bulacan bridges N lex Corp. said on Sunday it is targeting to complete the rehabilitation of the Meycauayan Bridge and Bigaa Bridge in Bulacan a month ahead of its original completion date.

Luigi L. Bautista, the company’s president, said the company is now aiming to complete the rehab works on the two bridges

by August 16 instead of September 15, as its contractor agreed to hasten work schedules.

“We have reached a significant breakthrough in our discussions with our contractor so we can finish ahead of schedule and provide motorists with safer and more convenient travel before the ‘ber’ months begin.

Barring any unforeseen events, the accelerated completion date of Bigaa Bridge is August 11, instead of August 31, and the substantial completion date for Meycauayan is August 16, instead of September 15,” he said.

Bautista noted that the company has completed the southbound portion of Meycauayan Bridge. Rehab works on the northbound side started on Sunday.

Meanwhile, rehab works on the northbound segment of the Bigaa bridge “is steadily progressing.”

Nlex Corp. has also implemented new traffic management measures to ease traffic delays while the Meycauayan bridge rehabilitation is ongoing.

These include the opening of counterflow lanes and deploying more patrol crews and marshals on site. The Department of Public Works and Highways (DPWH) has also agreed to temporarily open the two-lane service road in Meycauayan so light vehicles can use it as a detour.

“We are thankful to our partners in DPWH for allowing us to use the service road for light vehicles so we can maintain four lanes in each direction to ease congestion and serve motorists better,” Bautista said.

R eh ab work s on t he t wo bridges started in April. It involves the replacement of girders and slabs to strengthen the structures and improve their lifespan. Bautista said these two bridges “are vital in supporting safe, reliable, and efficient movement of people and goods between the metro and the provinces in the north.”

Nlex is a subsidiary of the Metro Pacific Tollways Corp., the toll road arm of the Metro Pacific Investments Corp. Lorenz S. Marasigan

B2

Companies BusinessMirror

Monday, July 19, 2021

Firms may submit contact details until end-Aug–SEC

T

By VG Cabuag

@villygc

he Securities and Exchange Commission (SEC) has extended the deadline for the submission of the official email addresses and mobile phone numbers of corporations, partnerships and individuals under its supervision.

In a notice it issued on July 15, the SEC announced the extension of the deadline for the submission of the requirement under SEC Memorandum Circular No. 28, Series of 2020, through endAugust.

Corporations, partnerships and individuals registered with the SEC may download the forms referred to as Annex D-G from the SEC website and file them through email at MC28_S2020@sec.gov.ph.

The SEC will also accept man-

ual submissions. Those who plan to submit their forms at the SEC’s main office at the PICC Complex in Pasay must first book an appointment.

The SEC said it will impose a penalty of P10,000 on corporations, partnerships and individuals under its supervision for their failure to comply with the memorandum circular by August 31.

The submission should include the complete name of the corporation, association, partnership or person; SEC registration number or identification number; and their duly authorized representative.

The email addresses and mobile phone numbers shall be under the control of the corporate secretary, the person charged with the administration and management

mutual funds

STOCK-MARKET OUTLOOK

Last week

Share prices dropped last week, with the main index returning to the 6,600-point level, as investors put more weight on Fitch Ratings’ decision to downgrade its outlook on the Philippines to “negative” from “stable.”

The benchmark Philippine Stock Exchange index (PSEi) shed 141.09 points to close at 6,693.83 points.

The downgraded outlook, which Fitch ratings attributed to a growing budget deficit and debt, weighed on investor sentiment. Investors shrugged off the shift of Metro Manila and nearby provinces to a more relaxed quarantine classification.

Volume of trade for the week was thin and reached a weekly average of only P4.79 billion.

Foreign investors made up 39 percent of total trades for the week but were still net sellers at P2.89 billion.

All other subindices ended in the red, led by the broader All Shares index that lost 96.60 points to 4,137.94, the Financials index shed 24.03 to 1,453.75, the Industrial index fell 199.14 to 9,393.85, the Holding Firms index plunged 189.38 to 6,651.30, the Property index retreated 93.87 to 3,200.36, the Services index was down 9.98 to 1,585.15 and the Mining and Oil index declined 46.05 to 9,650.11.

For the week, losers edged gainers 41 to 189 and 17 shares were unchanged.

Top gainers were Manila Mining Corp.

A, The Philippine Stock Exchange Inc., SBS Philippines Corp., IPM Holdings Inc., Acesite (Phils.) Hotel Corp. and Century Pacific Food Inc. Top losers were Chemical Industries of the Philippines Inc., Cebu Landmasters Inc., Greenergy Holdings Inc., Philippine Realty and Holdings Corp., Cityland Development Corp. and Discovery World Corp.

This week

Share prices may remain subdued this week as the spread of the delta variant of Covid-19 may dampen investor appetite for stocks.

It will be a four-day trading week as trading is suspended on Tuesday, July 20, in observance of Eid’l Adha or the Feast of Sacrifice for the Muslims.

“Market participants may have to contend with another wave of pessimism

of the corporation sole, the resident agent of the foreign corporation, the managing partners, the individual, or the duly authorized representative.

The submission shall be accompanied by a duly signed authorization or certification, which shall state that the corporation, partnership or person allows the SEC to send communications through the email addresses and mobile phone numbers provided for the purpose of complying with the notice requirement of administrative due process.

The authorization or certification must be signed by the corporate secretary, managing partner, resident agent or the duly authorized representative of the corporation, partnership or individual registered with the SEC.

July 16, 2021 NAV One Year Three Year Five Year

within the next few weeks, seeking for feelers as to how this [the delta variant of Covid-19] will impact public health policy, given the recent move to GCQ [general community quarantine] by month-end,” said broker 2Tradeasia.com.

Early this month, Thailand reimplemented a much stricter lockdown of Greater Bangkok due to the third wave of infections from the delta variant.

Vietnam also did the same to its capital as cases reached a new high.

“Brace for volatility across asset classes, especially those tied to the country’s macro recovery story,” the broker said.

It said investors will also look beyond second quarter earnings, which will be announced by companies within the next few weeks. Many firms are expected to post double-digit growth in earnings, but this is mostly due to “base effects” as the country was under the most stringent quarantine classification in April to June last year. Investors will look at the companies’ third quarter figures and how the delta variant would affect their financial performance, the broker said.

“Development over the next sessions will be critical, as markets are again at the mercy of public health policy. Suffice to say, there is little incentive for psyche to move past the 7,000-point mark, at least for now.”

Immediate support for the main index is seen at 6,600 points while resistance is forecast at 6,900 points.

per share

Stock picks

Bond Funds

Broker Regina Capital Development Corp. gave a buy recommendation when its support price holds on the stock of SM Prime Holdings Inc. as the stock is now trading at its lowest level since May. “Increasing selling pressure coupled with heightened momentum are pointing to a possible retest of the P34.40 support--last hit on 26 May. Should the P34.40 level break, the stock could free-fall to as low as P33.85 [the stock’s support price],” the broker said.

SM Prime shares closed last week at P34.90 apiece.

Meanwhile, the broker gave a hold rating on the stock of LT Group Inc. (LTG) as it managed to post a three-day losing streak beginning Monday and break through several key support levels while on a free-fall.

“While some may interpret this as the end of the selldown, it is still too early to tell. The P11 level is the make-orbreak point. Should LTG close lower than P11 this week, that will point to a possible continuation of the downturn. Should it close above P11, a reversal may soon ensue.”

LTG’s shares closed Friday at P11.02 apiece. VG Cabuag

Return*

Y-T-D Return

Stock Funds ALFM Growth Fund, Inc. -a

216.08

9.29%

-5.11%

-4.7%

-4.9%

ATRAM Alpha Opportunity Fund, Inc. -a

1.4172

39.56%

-0.63%

0.98%

7.94%

12.3%

-9.23%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.9912

-7.01%

-4.53%

Climbs Share Capital Equity Investment Fund Corp. -a 0.758 11.91%

-5.03% n.a.

-5.71%

First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.7526 13.91%

-3.4% n.a.

First Metro Save and Learn Equity Fund,Inc. -a 4.7728

1.48%

12.38%

-2.96%

-2.86%

-3.41%

First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.7042

5.37%

-6.31%

-6.93%

MBG Equity Investment Fund, Inc. -a

101.7

28.88%

-1.5% n.a.

-0.24%

PAMI Equity Index Fund, Inc. -a

44.2585

11.45%

-3.3%

-3.63%

-5.53%

Philam Strategic Growth Fund, Inc. -a

464.71

9.15%

-3.28%

-4.02%

-4.96%

Philequity Alpha One Fund, Inc. -a,d, 5

1.0703

24.41% n.a. n.a.

-2.46%

Philequity Dividend Yield Fund, Inc. -a

1.128

12.23%

-2.95%

-2.94%

-3.44%

Philequity Fund, Inc. -a

33.2701

12.57%

-2.63%

-2.49%

-4.31%

10.07% n.a. n.a.

-5.67%

4.5384

12.15%

-2.68%

-2.87%

-5.28%

759.64

12.17%

-2.58%

-2.98%

-5.24%

0.6966

13.82%

-6.36%

-5.88%

-3.1%

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.4613

10.78%

-4.78%

-4.24%

-4.48%

Philequity MSCI Philippine Index Fund, Inc. -a

0.8612

Philequity PSE Index Fund Inc. -a Philippine Stock Index Fund Corp. -a

Soldivo Strategic Growth Fund, Inc. -a

Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8675 11.68%

-2.95%

-3.13%

-5.47%

United Fund, Inc. -a

-3.26%

-2.24%

-4.37%

-2.36%

-2.43%

3.1738

12.12%

-7.32%

Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 102.0072

12.22%

-5.16%

Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b

$1.2433

20.56%

6.45%

7.68%

3.36%

Sun Life Prosperity World Voyager Fund, Inc. -a $1.8165

28.01%

11.98%

12.26%

8.59%

Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a

1.6814

8.21%

0.38%

-1.96%

0.77%

ATRAM Philippine Balanced Fund, Inc. -a

2.2048

7.37%

-0.69%

-1.49%

-3.53%

First Metro Save and Learn Balanced Fund Inc. -a 2.5645

6.52%

0.08%

-0.88%

-2.38%

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.192

3.9% n.a. n.a.

NCM Mutual Fund of the Phils., Inc. -a

1.9306

5.34%

1.69%

-0.15%

-1.7%

PAMI Horizon Fund, Inc. -a

3.6328

4.39%

0.77%

-1.43%

-4.1%

Philam Fund, Inc. -a

16.2866

5.08%

0.91%

-1.4%

-3.84%

Solidaritas Fund, Inc. -a

2.0274

6.01%

-0.53%

-1.12%

-3.19%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.4728 6.45%

-1.37%

-2.38%

-2.81%

Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9757

3.35% n.a. n.a.

-4.59%

Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.8881

5.55% n.a. n.a.

-6.44%

Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.874

7.13% n.a. n.a.

-6.33%

Sun Life Prosperity Dynamic Fund, Inc. -a

7.98%

-2.25%

0.8677

-1.83%

-2.74%

Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a

$0.03823

-1.09%

2.95%

1.27%

-2.28%

PAMI Asia Balanced Fund, Inc. -b

$1.1219

10.66%

3.76%

4.25%

-2.46%

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.7772 21.05%

9.22%

8.58%

5.86%

Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.2239 10.47%

5.37%

4.67%

1.81%

0.34%

Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a

372.34

1.46%

3.17%

2.41%

ATRAM Corporate Bond Fund, Inc. -a

1.9226

-1.13%

1.04%

0.18%

1.17%

Cocolife Fixed Income Fund, Inc. -a

3.2323

1.16%

3.7%

4.29%

0.55%

Ekklesia Mutual Fund Inc. -a

2.262

-1.96%

2.23%

1.2%

-1.48%

First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4414 -0.55%

3.29%

1.64%

-0.48%

Philam Bond Fund, Inc. -a

4.4719

-3.79%

4.34%

1.08%

-3.51%

Philam Managed Income Fund, Inc. -a, 6

1.3176

1.22%

4.05%

2.69%

-0.27%

Philequity Peso Bond Fund, Inc. -a

3.9878

0.59%

4.58%

1.94%

-0.33%

Soldivo Bond Fund, Inc. -a

1.0345

-0.49%

4.73%

1.5%

-0.72%

Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.2139

1.06%

5.35%

2.13%

0.25%

Sun Life Prosperity GS Fund, Inc. - a

0.15%

4.63%

1.42%

-0.34%

-3.32%

www.businessmirror.com.ph

PSE STOCK QUOTATIONS

July 16, 2021

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

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

45.05 109 85.35 25 9.76 47.5 19.82 56.1 20.1 113.9 76.8 1.45 4.29 0.59 2.91 7.36 0.38 0.7 240

45.5 109.1 86.5 25.05 9.78 47.8 20 57.5 20.2 114 77 1.5 4.3 0.64 3.12 8.61 0.395 0.72 244

46 109.5 85 25.5 9.81 48.4 21.3 57.5 20.6 116 76.9 1.5 4.3 0.59 2.99 7.35 0.38 0.69 247.6

46 110 86.7 25.5 9.96 48.5 21.5 57.5 20.65 117.4 77 1.51 4.45 0.59 2.99 7.35 0.395 0.7 247.6

45.05 108.6 85 25 9.78 47.45 19.82 56.1 20.2 113.7 76.9 1.49 4.29 0.59 2.98 7.35 0.38 0.68 240

45.5 109.1 86.5 25.05 9.78 47.8 19.82 57.5 20.2 114 77 1.5 4.3 0.59 2.98 7.35 0.395 0.7 244

14,000 640,700 1,540,790 168,361,633 1,780,990 152,473,001.50 272,200 6,831,505 143,800 1,413,399 1,947,000 93,450,520 1,754,400 35,643,137 610 34,517 135,000 2,772,345 719,630 82,828,271 50,570 3,892,283.50 1,075,000 1,612,050 228,000 993,700 157,000 92,630 22,000 65,660 100 735 260,000 99,250 155,000 108,400 2,100 513,648

-22,735,808 23,593,494.50 -570,000 -249,685.00 18,642,745 1,337,546 3,366 -5,188,362 2,821,299 -34,444

INDUSTRIAL AC ENERGY 8.19 8.2 8.79 8.8 8.15 8.19 61,420,100 517,992,238 ALSONS CONS 1.28 1.29 1.28 1.29 1.28 1.28 804,000 1,029,420 ABOITIZ POWER 23.95 24 24.45 24.7 23.55 24 4,905,400 118,288,285 BASIC ENERGY 0.66 0.67 0.71 0.72 0.66 0.67 38,448,000 26,384,290 FIRST GEN 29.5 29.65 29.5 29.65 29 29.65 593,000 17,386,645 FIRST PHIL HLDG 77.3 77.4 77.3 77.45 77.3 77.3 267,680 20,693,329 MERALCO 271.8 272 273.2 277 272 272 250,170 68,437,206 MANILA WATER 17.6 17.68 17.96 18.16 17.54 17.6 1,002,900 17,819,538 PETRON 3.38 3.4 3.41 3.44 3.38 3.4 1,019,000 3,470,880 PETROENERGY 4.02 4.09 4.03 4.03 4.02 4.02 10,000 40,230 PHX PETROLEUM 12.46 12.86 12.5 12.88 12.48 12.86 8,800 110,802 PILIPINAS SHELL 20.2 20.3 20.2 20.6 20.15 20.3 356,400 7,232,305 SPC POWER 12.24 12.28 12.12 12.5 12.12 12.28 122,300 1,502,172 AGRINURTURE 5.96 6.07 6.04 6.15 5.96 6.07 1,510,000 9,154,223 AXELUM 2.85 2.86 2.93 2.93 2.86 2.86 386,000 1,106,850 CNTRL AZUCARERA 14.3 14.5 14.4 14.4 14.4 14.4 2,800 40,320 CENTURY FOOD 24.4 24.45 24.75 24.8 24.1 24.4 792,100 19,343,335 DEL MONTE 15 15.02 15.5 15.6 14.96 15 378,400 5,776,846 DNL INDUS 7.91 7.96 8.32 8.34 7.8 7.96 2,731,400 22,140,950 EMPERADOR 12.62 12.66 12.6 12.7 12.46 12.62 741,500 9,349,002 SMC FOODANDBEV 80.5 82.8 83.5 85 76.5 82.8 322,890 26,662,382 ALLIANCE SELECT 0.64 0.67 0.66 0.67 0.64 0.64 159,000 102,910 FRUITAS HLDG 1.33 1.34 1.34 1.35 1.31 1.34 7,381,000 9,805,000 GINEBRA 91.1 91.45 98.5 98.5 91.1 91.1 70,480 6,550,519.50 JOLLIBEE 210 210.2 209.4 212.4 208.8 210 1,594,250 334,886,876 MAXS GROUP 6.45 6.5 6.62 6.63 6.45 6.5 409,900 2,655,813 MG HLDG 0.255 0.26 0.26 0.275 0.255 0.26 2,930,000 760,850 MONDE NISSIN 15.68 15.7 16.48 16.56 15.56 15.68 18,880,200 301,356,876 SHAKEYS PIZZA 7.72 7.94 8 8.18 7.71 7.94 125,600 987,212 ROXAS AND CO 1.01 1.02 1.01 1.01 1.01 1.01 2,299,000 2,321,990 RFM CORP 4.51 4.72 4.52 4.52 4.52 4.52 5,000 22,600 ROXAS HLDG 1.38 1.47 1.41 1.41 1.38 1.38 45,000 62,700 SWIFT FOODS 0.14 0.141 0.142 0.148 0.141 0.141 24,800,000 3,572,090 UNIV ROBINA 137 137.8 136.7 138 136.7 137.8 766,610 105,154,322 VITARICH 0.81 0.82 0.83 0.84 0.82 0.82 1,844,000 1,520,970 VICTORIAS 2.3 2.5 2.4 2.4 2.3 2.3 46,000 106,930 CONCRETE A 52.6 52.9 52.9 52.9 52.9 52.9 500 26,450 CONCRETE B 59.85 64.95 59.85 59.85 59.85 59.85 990 59,251.50 CEMEX HLDG 1.25 1.26 1.31 1.31 1.24 1.25 7,374,000 9,385,550 EAGLE CEMENT 14.52 14.56 15.48 15.48 14.5 14.52 623,400 9,332,452 EEI CORP 7.81 8 8.1 8.18 7.8 7.81 153,700 1,216,689 HOLCIM 6.88 6.9 7.56 7.67 6.6 6.88 3,472,400 24,576,112 MEGAWIDE 6.35 6.4 6.65 6.69 6.3 6.35 2,206,700 14,326,114 PHINMA 14.56 15 14.6 14.6 14.54 14.56 107,200 1,559,966 TKC METALS 1.02 1.07 1.05 1.08 1.02 1.02 528,000 549,680 VULCAN INDL 2.14 2.15 2.33 2.35 2.12 2.14 24,550,000 54,577,930 CROWN ASIA 1.7 1.71 1.71 1.73 1.71 1.71 115,000 196,790 EUROMED 1.85 1.93 1.92 1.95 1.85 1.94 202,000 384,990 LMG CORP 4.3 4.49 4.32 4.32 4.3 4.3 15,000 64,640 MABUHAY VINYL 5.1 5.34 5.2 5.34 5.2 5.34 1,500 7,996 5.41 5.49 5.44 5.5 5.4 5.41 108,600 591,480 PRYCE CORP CONCEPCION 20.15 21.9 21 21 20.65 20.65 6,400 132,335 GREENERGY 3.28 3.29 3.42 3.6 3.28 3.28 11,472,000 39,276,790 INTEGRATED MICR 9.1 9.24 9.51 9.69 9.02 9.1 1,044,400 9,716,366 IONICS 1.02 1.04 1.06 1.06 1.02 1.02 731,000 762,240 PANASONIC 5.83 6.2 6 6 5.81 5.83 34,600 202,181 SFA SEMICON 1.29 1.32 1.34 1.35 1.28 1.29 1,356,000 1,774,700 CIRTEK HLDG 5.2 5.21 5.33 5.34 5.2 5.21 6,705,300 35,176,378

49,936,987 -18,723,970 624,860.00 -10,043,845 2,705,444 -13,708,778 7,186,598 771,230 2,957,885 3,636.00 -2,325,061 2,870 -857,785 264,170 -1,689,126 354,814 547,580.50 531,350 -1,553,992.50 272,561,038 -26,280 -64,930,126 4,088 -1,688,720 21,450 13,626,303 -261,450 37,050 793,570 -5,677,612 -1,497,347 203,794 20,600 303,020 71,820 9,500 -10,980 -24,780 1,438,430 -2,972,570 170,730 54,622

HOLDING & FRIMS ABACORE CAPITAL 0.99 1 1.03 1.03 0.99 1 9,704,000 9,777,560 ASIABEST GROUP 6.8 7.2 7 7 6.8 6.8 34,700 236,340 770 770.5 780 790 770.5 770.5 136,990 106,382,990 AYALA CORP ABOITIZ EQUITY 40.2 40.6 40 40.95 40 40.6 491,000 19,878,450 ALLIANCE GLOBAL 9.98 10 10.1 10.2 9.95 10 2,990,400 30,005,004 AYALA LAND LOG 4 4.01 4.38 4.53 3.92 4 14,307,000 59,346,500 ANSCOR 6.93 6.99 7 7 6.93 6.93 11,500 80,003 ANGLO PHIL HLDG 0.94 0.95 0.98 0.98 0.93 0.94 3,532,000 3,336,390 ATN HLDG A 0.66 0.67 0.68 0.68 0.66 0.66 1,405,000 943,780 0.67 0.7 0.67 0.67 0.67 0.67 57,000 38,190 ATN HLDG B COSCO CAPITAL 5.05 5.1 5.2 5.2 5.05 5.05 1,522,300 7,780,466 DMCI HLDG 6.45 6.46 6.5 6.54 6.35 6.45 9,521,100 61,401,267 FILINVEST DEV 8.06 8.09 8.2 8.2 8.07 8.07 19,300 155,880 FJ PRINCE A 2.19 2.9 2.92 2.92 2.75 2.75 20,000 56,630 FORUM PACIFIC 0.285 0.29 0.31 0.31 0.29 0.29 1,080,000 315,400 576 576.5 605 605 570 576 174,280 102,287,220 GT CAPITAL HOUSE OF INV 4.01 4.05 4.13 4.14 4.05 4.05 56,000 229,390 JG SUMMIT 59.6 61 59.85 61 59.15 61 1,531,530 92,632,564 LODESTAR 0.77 0.78 0.8 0.82 0.78 0.78 1,730,000 1,378,860 LOPEZ HLDG 3.24 3.4 3.3 3.32 3.3 3.3 561,000 1,851,390 LT GROUP 11 11.02 11.12 11.5 11 11.02 17,548,900 195,128,384 MABUHAY HLDG 0.5 0.52 0.53 0.53 0.5 0.5 604,000 304,780 3.73 3.78 3.79 3.85 3.7 3.78 14,104,000 53,084,740 METRO PAC INV PACIFICA HLDG 3.5 3.51 3.52 3.54 3.51 3.51 37,000 130,020 PRIME MEDIA 2.77 2.8 2.89 2.95 2.7 2.77 1,346,000 3,767,200 REPUBLIC GLASS 2.87 2.88 2.88 2.88 2.88 2.88 41,000 118,080 SM INVESTMENTS 956 959 990 996.5 956 956 319,330 308,592,490 SAN MIGUEL CORP 113 114 117.9 117.9 113 113 267,460 30,640,577 SOC RESOURCES 0.74 0.78 0.78 0.78 0.78 0.78 1,000 780 WELLEX INDUS 0.275 0.29 0.29 0.29 0.275 0.275 1,580,000 448,400 ZEUS HLDG 0.226 0.227 0.227 0.227 0.227 0.227 1,390,000 315,530

2,583,710 -204,000 -14,379,595 9,568,135 -12,416,631 5,317,720 47,700 -1,252,823 -126,440 40,350 -24,104,070 22,096,411 -181,590 -72,050,100.00 -7,706,530 280,000 -179,907,690 -11,288,153 -

PROPERTY ARTHALAND CORP 0.65 0.66 0.68 0.68 0.65 0.66 627,000 407,910 ANCHOR LAND 7.3 7.49 7.45 7.79 7.3 7.79 5,200 38,253 AYALA LAND 35.4 35.5 35.5 36.1 35.2 35.5 6,702,500 239,013,620 ARANETA PROP 1.16 1.2 1.2 1.2 1.16 1.16 182,000 213,230 AREIT RT 36.1 36.15 36.2 36.2 36 36.1 980,200 35,398,860 BELLE CORP 1.4 1.44 1.42 1.46 1.41 1.41 87,000 123,890 0.9 0.91 0.93 0.93 0.89 0.91 4,023,000 3,646,960 A BROWN CITYLAND DEVT 0.92 0.93 1 1.01 0.8 0.92 2,574,000 2,454,120 CROWN EQUITIES 0.128 0.131 0.131 0.135 0.128 0.131 65,540,000 8,610,120 6.42 6.8 6.41 6.42 6.41 6.42 3,700 23,750 CEBU HLDG CEB LANDMASTERS 2.88 2.89 3.05 3.18 2.88 2.88 6,023,000 18,164,750 CENTURY PROP 0.485 0.5 0.5 0.52 0.485 0.5 67,402,000 33,469,615 DOUBLEDRAGON 10.9 10.98 11.5 11.52 10.8 10.9 2,134,600 23,796,186 DDMP RT 1.94 1.95 1.97 1.99 1.94 1.94 12,081,000 23,708,190 DM WENCESLAO 7 7.06 7 7.1 6.93 7.06 54,500 383,228 EMPIRE EAST 0.295 0.3 0.305 0.305 0.3 0.3 690,000 207,050 EVER GOTESCO 0.425 0.43 0.44 0.48 0.425 0.43 117,300,000 53,835,900 FILINVEST LAND 1.13 1.14 1.14 1.15 1.12 1.13 13,812,000 15,660,560 GLOBAL ESTATE 0.88 0.89 0.88 0.89 0.88 0.88 27,000 23,800 1.32 1.33 1.32 1.35 1.32 1.33 332,000 442,820 PHIL INFRADEV KEPPEL PROP 3.06 3.13 3.06 3.06 3.06 3.06 11,000 33,660 CITY AND LAND 1.53 1.54 1.63 1.63 1.53 1.54 891,000 1,419,230 MEGAWORLD 2.95 2.98 3.05 3.09 2.92 2.98 43,525,000 129,715,160 MRC ALLIED 0.36 0.365 0.38 0.38 0.365 0.365 27,140,000 10,021,650 PHIL ESTATES 0.61 0.62 0.67 0.68 0.61 0.61 30,109,000 19,222,890 PRIMEX CORP 2.59 2.7 2.5 2.75 2.46 2.59 3,303,000 8,622,220 ROBINSONS LAND 16.1 16.16 16.38 16.46 16.1 16.1 6,134,500 100,295,380 PHIL REALTY 0.32 0.33 0.34 0.34 0.32 0.33 4,070,000 1,339,300 ROCKWELL 1.51 1.52 1.6 1.6 1.51 1.52 133,000 206,260 SHANG PROP 2.62 2.69 2.65 2.69 2.64 2.69 49,000 129,440 STA LUCIA LAND 2.81 2.9 3.16 3.24 2.9 2.9 2,323,000 7,119,970 34.6 34.9 35.15 35.2 34.1 34.9 7,082,600 245,353,775 SM PRIME HLDG 3.82 3.94 3.94 3.94 3.93 3.93 8,000 31,470 VISTAMALLS SUNTRUST HOME 1.56 1.59 1.57 1.62 1.56 1.6 334,000 523,430 VISTA LAND 3.58 3.59 3.66 3.66 3.55 3.58 4,662,000 16,685,430

SERVICES ABS CBN 11.76 11.8 11.82 12.3 11.76 11.76 324,500 3,871,748 12.6 12.68 13.22 13.24 12.6 12.6 2,937,300 37,791,590 GMA NETWORK MANILA BULLETIN 0.425 0.43 0.43 0.43 0.425 0.425 80,000 34,050 GLOBE TELECOM 1,934 1,941 1,950 1,950 1,933 1,941 45,340 88,017,220 1,286 1,292 1,262 1,295 1,262 1,292 82,140 105,854,620 PLDT APOLLO GLOBAL 0.161 0.162 0.168 0.17 0.159 0.161 286,750,000 46,959,590 22.9 23 23.35 23.65 22.9 22.9 4,152,400 96,065,305 CONVERGE DFNN INC 4.21 4.34 4.36 4.42 4.2 4.35 387,000 1,660,220 DITO CME HLDG 8.21 8.22 8.58 8.59 8.21 8.21 9,554,000 80,596,987 IMPERIAL 1.55 1.78 1.55 1.55 1.55 1.55 107,000 165,850 JACKSTONES 2.1 2.25 2.1 2.1 2.1 2.1 3,000 6,300 NOW CORP 2.3 2.31 2.37 2.37 2.31 2.31 1,136,000 2,648,770 TRANSPACIFIC BR 0.44 0.445 0.475 0.48 0.44 0.445 25,980,000 11,877,600 PHILWEB 2.31 2.39 2.4 2.41 2.3 2.39 680,000 1,602,910 2GO GROUP 8.4 8.42 8.3 8.5 8.3 8.42 36,000 303,606 ASIAN TERMINALS 14.54 14.78 14.78 14.78 14.78 14.78 1,500 22,170 CHELSEA 2.99 3 3.01 3.07 2.99 2.99 563,000 1,689,220 46 46.5 48 48.1 45 46 344,700 16,073,865 CEBU AIR INTL CONTAINER 163 163.9 162.8 165 162 163.9 880,730 144,302,937 LORENZO SHIPPNG 1 1.05 1 1.05 1 1.05 4,000 4,070 MACROASIA 4.7 4.88 4.91 5.14 4.65 4.7 3,157,000 15,282,790 2 2.02 2.03 2.03 2 2 154,000 308,810 METROALLIANCE A METROALLIANCE B 2.01 2.1 2.1 2.1 2.1 2.1 5,000 10,500 HARBOR STAR 1.19 1.2 1.21 1.21 1.19 1.2 595,000 710,310 ACESITE HOTEL 2 2.08 2.05 2.19 2 2.08 1,302,000 2,749,200 BOULEVARD HLDG 0.124 0.125 0.138 0.138 0.121 0.125 584,880,000 75,458,530 DISCOVERY WORLD 2.75 2.78 2.88 2.9 2.78 2.78 137,000 390,100 WATERFRONT 0.53 0.54 0.56 0.57 0.54 0.54 3,114,000 1,712,440 IPEOPLE 7.17 7.49 7.49 7.5 7.49 7.49 5,800 43,447 STI HLDG 0.365 0.375 0.38 0.38 0.37 0.37 16,350,000 6,112,850 BERJAYA 5.4 5.59 5.31 5.59 5.31 5.59 15,000 81,942 BLOOMBERRY 6.43 6.45 6.76 6.76 6.4 6.45 13,629,100 89,014,461 PACIFIC ONLINE 2.03 2.08 2.03 2.03 2.03 2.03 4,000 8,120 LEISURE AND RES 1.58 1.62 1.63 1.63 1.58 1.58 1,316,000 2,130,230 PH RESORTS GRP 1.77 1.82 1.85 1.86 1.75 1.82 3,556,000 6,373,130 0.42 0.425 0.45 0.465 0.42 0.42 39,280,000 17,504,750 PREMIUM LEISURE PHIL RACING 5.8 5.95 5.8 5.8 5.8 5.8 3,200 18,560 ALLHOME 7.65 7.76 7.85 7.85 7.62 7.65 11,417,900 88,403,560 METRO RETAIL 1.37 1.38 1.39 1.4 1.38 1.38 1,835,000 2,544,750 PUREGOLD 38.85 38.95 39.2 39.8 38.4 38.95 2,268,900 88,196,745 ROBINSONS RTL 52.9 53 55.5 55.7 52.45 53 643,710 34,566,903 PHIL SEVEN CORP 95 97.5 97.5 97.5 95 97.5 420 40,450 SSI GROUP 1.21 1.22 1.25 1.29 1.21 1.21 9,574,000 11,902,510 WILCON DEPOT 21 21.2 20.8 21.45 20.8 21.2 2,776,600 58,242,375 APC GROUP 0.375 0.39 0.375 0.39 0.375 0.39 1,140,000 433,800 440 448 439.2 448 439.2 448 1,070 478,940 GOLDEN MV IPM HLDG 6.15 6.2 6.2 6.2 6.2 6.2 5,600 34,720 PRMIERE HORIZON 1.49 1.5 1.59 1.62 1.46 1.49 55,284,000 85,278,510 SBS PHIL CORP 4.41 4.73 4.69 4.78 4.38 4.78 1,069,000 4,699,720

-7,775,820 9,595,585 -28,600 -126,100 -13,090 1,690,990 20,090 -1,240,890 4,959,210 -246,750 -898,140.00 132,000 19,500 -41,692,850 -439,800 80,400 3,233,030 34,182,848 3,350 6,200 47,380 -21,438,330 -400,060 -12,213,085 47,639,125 955,860 37,082,195 202,290 2,396,969 -116,830 -278,050 -70,970 148,728 -3,313,220 64,194,125 315,360.00 41,700 -1,625,080 -31,458 -720,500 11,434,028 162,000 230,440 124,450 7,121,424 112,000 -16,878,470 -13,754,618 9,750 23,590 -30,417,730.00 22,500 2,788,950 -

MINING & OIL ATOK 7.81 7.85 7.99 8.09 7.85 7.85 191,700 1,524,551 -75,183 APEX MINING 1.65 1.66 1.69 1.7 1.65 1.65 4,269,000 7,130,130 -23,520 5.98 5.99 6.06 6.09 5.98 5.98 1,298,600 7,798,612 -301,340 ATLAS MINING BENGUET A 5.2 5.48 5.3 5.55 5.02 5.48 440,000 2,385,532 Primarily invested in foreign currency securities BENGUET B 5.14 5.45 5.11 5.45 5.09 5.45 2,300 11,787 COAL ASIA HLDG 0.295 0.305 0.3 0.31 0.3 0.305 1,110,000 334,700 -45,500 ALFM Dollar Bond Fund, Inc. -a $486.57 2.46% 3.17% 2.16% 0.56% CENTURY PEAK 2.84 2.85 2.85 2.9 2.85 2.85 165,000 471,800 471,800 DIZON MINES 6.32 6.44 6.45 6.45 6.32 6.32 28,000 177,108 -18,316 ALFM Euro Bond Fund, Inc. -a Є220.15 2.08% 1.08% 0.96% 0.44% FERRONICKEL 2.46 2.47 2.53 2.65 2.47 2.47 13,041,000 33,360,950 -1,788,200 GEOGRACE 0.31 0.32 0.32 0.33 0.31 0.31 2,250,000 718,350 -34,100 ATRAM Total Return Dollar Bond Fund, Inc. -b $1.1966 -2.39% 2.44% 1.24% -6.54% LEPANTO A 0.155 0.156 0.16 0.161 0.154 0.156 49,570,000 7,743,450 LEPANTO B 0.16 0.164 0.161 0.161 0.16 0.16 1,080,000 173,300 First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0261 0% 1.85% 0.78% -1.88% MANILA MINING A 0.011 0.012 0.011 0.012 0.011 0.011 96,800,000 1,114,800 MANILA MINING B 0.011 0.012 0.011 0.012 0.011 0.012 120,600,000 1,327,000 PAMI Global Bond Fund, Inc -b $1.0468 -2.43% 0.4% -1.08% -4.2% MARCVENTURES 1.17 1.18 1.19 1.28 1.17 1.17 4,913,000 6,048,330 -35,280 NIHAO 1.32 1.38 1.4 1.4 1.31 1.32 535,000 715,820 10,560 Philam Dollar Bond Fund, Inc. -a

$2.5112 2.3% 5.11% 1.79% -0.96% NICKEL ASIA 5.34 5.36 5.55 5.85 5.28 5.34 34,539,500 194,232,130 25,002,713 OMICO CORP 0.395 0.42 0.395 0.395 0.395 0.395 90,000 35,550 Philequity Dollar Income Fund Inc. -a $0.0630205 4.01% 3.57% 2.15% 1.13% ORNTL PENINSULA 0.97 0.98 0.97 1.04 0.96 0.98 3,421,000 3,438,420 -20,000 PX MINING 6.23 6.24 6.34 6.36 6.24 6.24 1,687,600 10,650,397 86,080 Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1916 -0.07% 3.46% 0.71% -0.99% SEMIRARA MINING 17.14 17.16 17.58 17.68 16.3 17.16 4,416,300 75,999,034 26,028,102.00 UNITED PARAGON 0.0092 0.0095 0.0094 0.0095 0.0093 0.0093 28,000,000 261,500 Money Market Funds ACE ENEXOR 17.5 17.52 18.28 18.32 17.42 17.52 58,200 1,026,978 22,776 ORNTL PETROL A 0.012 0.013 0.012 0.013 0.012 0.012 110,700,000 1,329,900 Primarily invested in Peso securities 0.012 0.013 0.012 0.013 0.012 0.012 4,000,000 48,100 ORNTL PETROL B PHILODRILL 0.011 0.012 0.011 0.012 0.011 0.012 11,000,000 121,400 ALFM Money Market Fund, Inc. -a

130.35 1.49% 3.02% 2.53% 0.42% PXP ENERGY 7.4 7.42 7.51 7.58 7.36 7.42 636,800 4,760,318 547,089

First Metro Save and Learn Money Market Fund, Inc. -a 1.0535 1.06% n.a. n.a.

0.52% PREFFERED HOUSE PREF B 100.5 101.5 100.5 100.5 100.5 100.5 500 50,250 Sun Life Prosperity Money Market Fund, Inc. -a 1.306 2.83% 2.55% 0.72% 1.67% HOUSE PREF A 100.7 101 101 101 100.8 101 78,430 7,907,830 ALCO PREF B 102.5 103.5 103.1 103.1 103.1 103.1 500 51,550 Primarily invested in foreign currency securities CEB PREF 45.2 45.9 47.8 47.8 45.1 45.2 398,700 18,521,485 -134,800 DD PREF 100.9 102 102 102 102 102 500 51,000 Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0579 1.16% 1.66% n.a.

0.52% FGEN PREF G 105 105.6 105.6 105.6 105.6 105.6 190 20,064 GLO PREF P 505 516 505 505.5 505 505 6,000 3,030,010 Feeder Funds MWIDE PREF 101.2 101.3 101.2 101.4 101.2 101.2 37,760 3,821,342 MWIDE PREF 2A 99.3 107.4 107.4 107.4 107.4 107.4 40 4,296 Primarily invested in Peso securities MWIDE PREF 2B 101.8 102 102 102 102 102 2,530 258,060 PNX PREF 3B 105.9 106 106 106 106 106 1,360 144,160 83,740 Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 1.3256 33.4% n.a. n.a. 17.35% PNX PREF 4 1,005 1,006 1,005 1,006 1,005 1,005 455 457,640 PCOR PREF 3B 1,155 1,165 1,165 1,165 1,165 1,165 200 233,000 Primarily invested in foreign currency securities SMC PREF 2C 78.55 78.9 78 78.95 78 78.9 14,210 1,121,510.50 SMC PREF 2H 76.95 77 77.05 77.05 77 77 2,600 200,220 19,250 ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $0.99 5.32% n.a. n.a.

1.02% SMC

PREF 2I 78.1 79 78.25 78.25 78 78.1 93,700 7,317,220 136,575.00 SMC PREF 2J 75.7 76 76 76 76 76 889,250 67,583,000 22,800 SMC PREF 2K 76.45 76.5 76.45 76.45 76.45 76.45 15,500 1,184,975 -

a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. d - in Net Asset Value per Unit (NAVPU).

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 11.36 11.52 11.54 11.54 11.52 11.52 127,900 1,475,764 -1,359,412.00

GMA HLDG PDR 11.84 12.08 11.92 12.08 11.84 11.84 224,700 2,690,938 - 1 - Launch date is September 28, 2019. 2 - Launch date is November 15, 2019. 3 - Adjusted due to stock dividend issuance last October 9, 2019.

WARRANTS

LR WARRANT 1.39 1.4 1.5 1.52 1.35 1.39 786,000 1,120,620 -

4 - Renaming was approved by the SEC last October 12, 2018 (formerly, One Wealthy Nation Fund, Inc.). 5 - Launch date is December 09, 2019.

SMALL & MEDIUM ENTERPRISES

ALTUS PROP 16.72 16.74 17.3 17.3 16.74 16.74 97,100 1,628,432 ITALPINAS 2.32 2.35 2.33 2.37 2.31 2.36 227,000 528,300 6 - Re-classified into a Bond Fund starting February 21, 2020 (Formerly a Money Market Fund). 7 - Launch date is July 6, 2020.

MERRYMART 3.81 3.83 3.98 4.03 3.8 3.81 9,984,000 38,967,620 -899,720

"While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the EXHANGE TRADE FUNDS

FIRST METRO ETF 101.3 101.5 103.5 104 101.3 101.3 25,030 2,559,816 -529,620 newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www. pifa.com.ph to see the latest NAVPS/NAVPU."

1.7491

www.businessmirror.com.ph

Banking&Finance

Finex supports financial consumer protection bill

By Bianca Cuaresma @BcuaresmaBM

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HE Financial Executives Institute of the Philippines (Finex) released a statement over the weekend, calling for the “immediate enactment” of the proposed Financial Consumer Protection (FCP) bill (House Bill 6143) to strengthen the financial ecosystem of the country.

The Finex said it is important to pass reforms in the financial sector to ensure that appropriate mechanisms are in place to protect the interest of financial consumers amidst the growing complexity of financial products and services.

“The intricate development of financial products and services resulting from advancements in technology has opened countless opportunities for financial markets and consumers alike. It also poses new risks, particularly to financial consumers,” Finex said.

“Reality has shown how financial products, including services accessed through digital channels, are susceptible to fraud or used for fraudulent purposes,” the group added.

HB 6143 (the FCP bill), proposes to establish a comprehensive financial consumer protection framework.

The bill aims to give financial regulators powers to determine the reasonableness of interests, fees or charges of financial products or services, is-

sue cease and desist orders and suspend operations of financial service providers in relation to a particular product or service.

“The measure intends to address the lack of consumer protection mechanisms related to the provision of financial products and services, especially digital financial services,” Finex said.

The group also said it believes an FCP law will significantly help the financial consumers to seek redress and recover their losses from their financial transaction in an “efficient and speedy manner.”

Last year, the Bangko Sentral ng Pilipinas (BSP) reported that based on the “Reports on Crimes and Losses” filed by banks during the enhanced community quarantine covering the period March 15 to May 18, 2020, 98.4 percent of all criminal incidents reported were classified as “cyber” or online in nature.

This resulted in losses amounting to P60.6 million or 54.5 percent of all total bank losses during the two-month period. Broken down, 80.5 percent of all cyber incidents reported were credit card and Internet banking-related, accounting for 79 percent of total losses.

The BSP said the majority of these threats were in the form of phishing emails and malicious websites, some even disguised as Covid-19 campaigns.

Perspectives Blurring lines between care and the community

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OMMUNITY-based care can be viewed as healthcare systems’ way of becoming more patient-centric, by shifting care where possible, closer to the people who need it.

Moving the right care to the right setting, at the right time enables providers to intervene sooner when better outcomes are possible. This approach also allows for care to be delivered in a more cost-effective way (without expensive hospital infrastructure and overhead), and in a more readily accessible and convenient manner for patients.

The results of the 2021 Healthcare CEO Future Pulse illustrate that the shift into communitybased prevention appears to be catching on – by being integrated into corporate strategies (35 percent), or by being put onto organizational agendas (46 percent); however, substantial implementation of this is still limited (9 percent). Despite respondents representing hospitals, health systems, and integrated provider networks, implementation progress is not vastly different – at 7 percent, 11 percent, and 9 percent, respectively. Despite this being potentially perceived as an existential threat to hospitals, they are not averse to this thinking, with only 12 percent identifying this as something they are not addressing at all; this is consistent with the suggestion that hospitals are open to focusing their efforts on higher value care.

The shift to community-based care not only refers to infrastructure, but in enlisting the community to support the burden of an aging and growing population with increasing multi-morbidities.

Nearly two-thirds (65 percent) of CEOs expect communities to substantially contribute to collective and individual health. Many (70 percent) expect hospitals themselves to evolve into ‘healthcare hubs’ where more complex care is delivered, while the ‘spokes’ of primary care are embedded in the community through multispecialty clinics, primary care physicians,

and digitally enabled monitoring.

This aligns with what Sarah Downey, president and CEO of Michael Garron Hospital, a community teaching facility in Toronto, Canada wants for her organization: “Our vision is to create health and build community. We understand that it’s not simply by treating acute conditions that we’ll improve the health of the people we serve. It’s through a broader view of health and partnerships that we’ll help transform lives and empower the people in our neighborhoods.”

The survey data suggest that Downey is progressive compared to other respondents. While many executives (63 percent) said it’s important to shift delivery of care out of hospitals and care facilities and into the community, fewer than one fifth overall (18 percent) are investing time and resources in this area. Even greater disparities play out when looking at shifting from cures to prevention, and from in-person to digital care. Herein lies the gulf between dreams and reality, healthcare leaders know what they need to change; but transformation will not happen without substantial investment of staff time and resources.

The excerpt was taken from KPMG’s “Healthcare CEO Future Pulse.” © 2021 R.G. Manabat & Co., a Philippine partnership and a member-firm of the KPMG global organization of independent member-firms affiliated with KPMG International Ltd., a private English company limited by guarantee. All rights reserved.

KPMG in the Philippines recently gathered industry tech leaders as well as experts in the fields of audit and assurance, tax, and advisory.

The 4-day Innovation Summit spurred exciting conversations and exchange of ideas from attendees across different industries and expertise.

Be inspired to innovate and keep track of the latest trends by watching the recorded sessions here: https://bit.ly/2UMi078.

As a recognized Center for Excellence for data, analytics, cybersecurity, regulatory-driven transformation, intelligent automation and emerging technologies, KPMG in the Philippines’ Lighthouse Group is here to successfully navigate organizations’ transformation journeys. Visit https://bit. ly/3zawwEJ to know more.

BusinessMirror

Editor: Dennis D. Estopace • Monday, July 19, 2021

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Excise tax collection from ‘sin’ products surges 15.8% in Q1

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By Bernadette D. Nicolas

@BNicolasBMs

HE national government collected P67.3 billion in excise taxes from “sin” products in the first quarter of the year, surging by 15.8 percent from the same period a year ago.

Sin tax haul by the Bureau of Internal Revenue and the Bureau of Customs from January to March this year posted a double-digit growth from P58.1 billion in the first quarter of last year, preliminary data obtained by the BusinessMirror showed.

Finance Assistant Secretary Maria Teresa S. Habitan said it is likely that the sin-tax collection was higher during the period due to the rise in

volume of removals particularly in tobacco and alcohol products as lockdown restrictions were eased and a ban on sale of alcohol lifted.

“Wala ng alcohol ban, for one; may easing ng restrictions compared to last year,” Habitan told the BusinessMirror.

Contributing to higher sin-tax collection are the further increases in excise tax rates for tobacco products, e-cigarettes and alcohol under

Republic Act 11346 and RA 11467, Habitan said.

More than half of the government’s sin tax haul for the first quarter of the year came from tobacco products amounting to P37.1 billion, a 20.5-percent jump from P30.8 billion in the same period last year.

This was followed by alcohol products, which yielded the government P21.5 billion in excise taxes, soaring by 17.8 percent year-on-year from P18.2 billion.

Collections from sweetened beverages, however, dipped by 4.8 percent to P8.6 billion in the first quarter of 2021 from last year’s P9.1 billion.

Meanwhile, the government’s excise tax take on e-cigarettes reached P76 million, more than triple the amount collected in the same period a year ago at P24 million.

Substantial portion of total sin taxes collected go to the implementation of the universal health care program.

For this year, Habitan said they

remain hopeful that the government will attain its P297.8 billion full-year collection target despite the re-imposition of stricter lockdown measures especially in the National Capital Region Plus earlier this year to address the surge in Covid-19 cases.

In 2020, total sin tax collection dropped by 3.27 percent to P260.58 billion from P269.4 billion in 2019 amid economic recession due to Covid-19 pandemic, based on preliminary data earlier obtained by BusinessMirror.

Despite this, the government managed to exceed last year its downgraded goal of P235.3 billion.

Under RA 11346 that was signed into law on July 2019, excise taxes on tobacco products were further increased to P50 per pack this year from P45 per pack a year ago.

Excise taxes on alcohol, heated tobacco products and vapor products were also further raised under RA 11467.

Stiffer penalties against ‘abusive’ lenders pushed

By Butch Fernandez @butchfBM

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EPLORING questionable debt collection practices, Senator Sherwin T. Gatchalian is pushing early passage of remedial legislation imposing sanctions against abusive debt claimants.

The Senator on Sunday renewed warnings to financial service providers, as well as online lending platforms, to desist from their “abusive debt collection” practices, vowing to pursue early enactment an enabling law penalizing such acts.

Gatchalian griped that some daring lending companies that sprouted had become “too aggressive” and is not likely to stop their abusive practices until a law is passed imposing stiff penalties for violation. (“Masyado nang mapangahas ang

ibang lending companies na nagsulputan. Hindi sila titigil hangga’t walang batas na magpapanagot sa mga maling gawain nila. Umaabot pa sa puntong pamamahiya at paninirang puri ang ginagawa nila sa mga nangutang sa kanila para lang makasingil.”)

The senator observed the Securities and Exchange Commission (SEC) recently shut down operations of KingABC Lending Corp., the company behind the online lending platforms Pondo Loan, Start Loan, Green Loan, Loan Club and Familyhan Credit Corp., after it was found to have committed unfair debt collection practices, “threatening borrowers on social media and various online platforms on made-up legal basis.”

The Senator suggested that “their liability should not only be administrative as some of the acts commit-

ted against the financial consumers already constitute criminal accountability such as infringement of data privacy and cyber harassment just to name a few.”

Sitting as Vice Chairman of the Senate Committee on Banks, Financial Institutions and Currencies said, Gatchalian filed Senate Bill 2287 to be known as “Financial Products and Services Consumer Protection Act,” prohibiting financial service providers from “employing abusive collective or debt recovery practices and must respect the privacy and protect their clients’ data.

Moreover, the bill includes penal provisions imposing “imprisonment of not less than one year and not more than five years or a fine of up to P2 million or both at the discretion of the court will be slapped against any

person who violates the provisions of the bill or any related rules, regulations, orders or instructions issued by the financial regulators.

It adds that financial regulators, including the Bangko Sentral ng Pilipinas (BSP), SEC, and Insurance Commission (IC) shall be “authorized to impose enforcement actions on their respective supervised financial service providers such as restriction to collect excessive or unreasonable interests, fees, or charges; and imposition of fines, suspension, or penalties for non-compliance with this Act; among others.”

The Senator added that the financial regulator, “consistent with public interest and the protection of financial consumers, is authorized to institute an independent civil action on behalf of the aggrieved financial consumers.”

US fund managers sticking Citigroup cuts off its rival with old playbooks vs Covid to AmEx’s Platinum card

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OVID-19 upended almost everything, including the trajectory of the US economy, which sank into one of the worst recessions in history and then rebounded into the fastest expansion in decades.

One thing that barely changed this whole time?

Professional stock pickers’ tastes.

Active fund managers still favor stable growth stocks over cheap ones and are avoiding economically sensitive shares like banks and energy, just as they did during the market’s tumble in March 2020. Except for a growing aversion to industrial firms, managers’ preferences across sectors are almost identical to what they were almost 16 months ago, data compiled by Bank of America Corp. show.

In fact, almost three-quarters of the same beloved stocks remain in their portfolios.

“It’s mystifying how much the world has changed in the year, but how little the average portfolio has changed,” Savita Subramanian, BofA’s head of US equity and quantitative strategy, said by phone. “My sense is that the buy side looked at the last 10 plus years and thought to themselves, ‘yes, the economy is recovering off the bottom from the exogenous shock of the health scare, but we’re not necessarily off to the races.’”

A case can be made that few traders see the spread of Covid-19 as a permanent game changer. Some have called the pandemic just an interruption in a prolonged regime of subdued growth. If anything, they say, the shutdowns accelerated trends already in place, like the shift toward automation

and online spending. This would explain the continued affection for internet and software shares.

Earlier this year, hedge funds—those that make both bullish and bearish equity bets—boosted their exposure to cyclical shares that benefit from an economic expansion, but have pared those bets more recently. As a result, their cyclical positioning fell toward levels seen in the aftermath of the pandemic crash.

At long-only funds, while their relative cyclical exposure has risen to 17 percent from 11 percent in March 2020, it represents a bullish tilt that BofA calls “minimal.”

The cautious stance is understandable.

Value stocks, a class dominated by cyclicals, trailed growth in 11 of the last 12 years. But recency bias can be dangerous.

Marko Kolanovic, the chief global market strategist at JPMorgan Chase & Co. warned in May that money managers who have spent the bulk of their careers profiting from deflationary trends need to quickly switch gears or risk an “inflation shock” to their portfolios.

Giorgio Caputo, senior fund manager at J O Hambro Capital Management, agrees.

Massive public spending on infrastructure and the willingness by the Federal Reserve to allow the economy to run hot could mean more industrial-led growth, he notes.

“Many managers are probably still waiting for definite proof that the next decade’s growth could be more cyclical,” Caputo said.

“The risk for many investors is that they may be caught flat-footed.” Bloomberg News

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ITIGROUP Inc. stopped taking applications for its $495-a-year Prestige card, a competitor to American Express Co.’s Platinum line and JPMorgan Chase & Co.’s Sapphire Reserve.

The bank will still serve existing Prestige customers, according to an emailed statement Friday, and encouraged prospective customers to instead consider products including the no-annual-fee Citi Custom Cash Card, which it introduced last month.

“Our go-to-market strategy continuously evolves to feature different products and offers,” Citigroup said in the statement.

Many banks have tried to match the success of AmEx in the world of premium credit cards, which take years to become profitable for a bank. While it’s the world’s largest credit-card issuer, Citigroup isn’t known for its premium products, posing another challenge in attracting customers and persuading them to spend hundreds of dollars in annual fees year after year.

Citigroup’s move comes as banks ramp up efforts to lure affluent customers to their cards as they travel and dine out again with the Covid-19 pandemic easing. Earlier this month, AmEx revamped its popular Platinum card, adding new perks tied to private jet access and hotel stays and upping the annual fee to $695.

The clamor for customers has even attracted banks lessknown for their credit-card offerings. Wells Fargo & Co. is in the process of developing a new rewards card after it debuted its new cash-back card just last month.

Citigroup’s Prestige card is popular among travel junkies for a unique perk: customers who book a four-day hotel stay through the bank’s portal can qualify for a free night’s stay.

The New York-based bank warned this week that its costs for the full year will climb by a percentage in the mid-single digits, an increase from the 2 percent to 3 percent jump it previously expected. Part of that comes from the firm’s desire to invest in its card business, Chief Financial Officer Mark Mason told analysts this week.

“Given the faster recovery we are seeing today, we are accelerating investments in areas like cards marketing to capture this upside,” he said. “These are strategic investments that we are making to strengthen our franchise and drive long-term growth.” Bloomberg News

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Why People Lie at Work—and

What to Do About It W

By Liz Kislik

We’re taught as children that lying is devious and wrong. We're likely to feel hurt when other people don’t share the truth, and angry that they were able to manipulate and take advantage of us. But once you’ve gone through the normal stages of hurt and anger, what can you do about the situation?

Instead of losing faith in your team members and your ability to manage them, try to understand why these employees are choosing to lie in the first place. Here are the three most likely reasons, based on what I've seen across decades of consulting:

Fear of triggering conflict

Some employees are afraid that other people will have a negative reaction to the truth and are fearful of creating a bad outcome by speaking up. For example, I worked with a vice president who was setting up a new business division and would fudge his numbers because the unit wasn't hitting the targets set by leadership. He didn’t want to let his bosses down or “make trouble,” as he put it.

As a leader, it’s your job to provide your fearful employees with the psychological safety that will

encourage them to tell the truth.

This doesn’t mean that there are no consequences for bad behavior.

But you need to underscore that by being honest, your employees are helping you do your job, and that they’re making your job much harder when they aren’t being truthful. You should make it clear to them that you’d always rather hear the truth—even when it’s not the answer you'd like to hear. To create such an environment, you can use language like, “I need to be able to count on you and your data,” or “It helps me do my job when I know what’s true, even if it’s bad news.”

Not wanting to expose their inadequacies

Sometimes employees are in over their heads and don’t know how to extricate themselves from a difficult situation. They try to mask their own incompetence, often because they simply can’t figure out why they’re failing and don't know how to fix the situation. In such cases, it’s not enough to call out the lying, because a person's underlying incompetence will still be present. One option is to see if there are structural chang-

WWW.FREEPIK.COM

hen you’re a leader, you rely on your team members to tell you the truth. This is what allows you to make thoughtful decisions and feel confident that you know what’s going on. Occasionally, however, you might be faced with an employee bending the truth or lying to you. This is one of the toughest managerial situations to face.

es that can be made to reduce the likelihood that your employee will mess up; doing so may eliminate or at least diminish the need for lying. For instance, you might extend the deadline on a certain project so that the individual assigned to it has a higher chance of getting the details right, or you could provide employees with training and coaching so that they can effectively deliver without needing to bend the truth.

A talented, but somewhat disorganized, senior director at a nonprofit organization I advised made several errors that affected the scheduling and publicity for several programs and events. He then lied to his colleagues about the mistakes so he wouldn’t be blamed. Upon finding out about this, the leadership team restructured his responsibilities so that he was no longer the point person

for event notifications, and his lying significantly diminished.

Trying to serve their own ends

Some employees have personal goals, like advancing their careers, that they believe they can’t achieve through high-quality work alone.

These employees can be even trickier to deal with because their lying may lead them to undermine and manipulate their colleagues. And pointing out their lies often only pushes them to “lie better” in order to achieve their desired results.

At an organization I worked with, a senior administrator used passive voice, oblique language and gaslighting to convey untrue information about her teammates.

Her colleagues eventually caught on and stopped collaborating with her. However, the administrator continued to create a fog of mistruth, accusing others of refusing

to cooperate with her.

In such situations, there are no helpful structural changes that can be made to reduce the liar’s perceived need to lie. For this reason, I coached the administrator's boss to draw a clear line about the inappropriate behavior and its consequences: “It’s not acceptable for you to damage your colleagues’ reputations. I want to know your concerns, but you need to understand that if you keep setting people up, I won’t be able to trust you even when there are other aspects of your work that are so good.”

It’s important to document the lying employee’s behavior and your feedback so that you at least have a private record. If you’re dealing with someone who often lies, it may be an ingrained habit that’s hard for the liar to break. This person may temporarily suspend the

habit but revert to lying as a coping mechanism as soon as a highpressure situation arises. In these cases, you may have to let the lying employee go, especially if the inaccurate information is disrupting relationships or decision-making.

You can’t afford to have your employees think that you’re willing to tolerate a culture of lying— this will only lead to strife, faulty operations and increased turnover. But if you can quickly catch mistruths, correct them and lay out the correct behavioral norms, you may be able to train a liar to behave better. Doing so will not only salvage your relationship with the lying employee; it will also make it clear to your team that you can keep everyone safe and productive.

Liz Kislik is the author of "How to Resolve Interpersonal Conflicts in the Workplace."

4 ways to boost psychological safety at work

By Amy C. Edmondson & Per Hugander

T

hese days, mentions of psychological safety in business are extraordinarily common, and the importance of creating psychologically safe work environments seems to be recognized across industries ranging from health care to tech to financial services. A popular topic before the pandemic, psychological safety has become that much more so because of its effects on agility, remote working, and diversity and inclusion. But with this ubiquity has come misunderstanding. One crucial misconception among business leaders is that psychological safety is present in any reasonably healthy work environment, in the same way that freedom from harassment and a commitment to keeping workers injury-free can generally be assumed to be present. In fact, psychologically safe work environments are rare.

Creating psychological safety— the confidence that candor and vulnerability are welcome—in a workplace is truly challenging and takes an unusual degree of commitment and skill. The reason for this is simple: It’s natural for peo-

ple to hold back ideas, be reluctant to ask questions and shy away from disagreeing with their boss. And because of this tendency, the free exchange of ideas, concerns and questions is routinely hindered— far more often than most managers realize. To reverse course takes focus and effort; it’s a process of helping people develop new beliefs and behaviors, and none of it is easy or natural.

We’re not saying it can’t be done, of course. Quite the contrary—we have plenty of evidence that it can, and we view psychological safety as immensely valuable in any business that faces uncertainty or has a need for innovation. But it must be approached with a high level of commitment and ambition. Fortunately, we’ve seen those efforts pay off.

The four essential behaviors below can help management teams practice perspective-taking (the act of considering a situation from an alternative point of view) and strategic focus while building a capacity for candor and vulnerability:

Focus on performance

First, emphasize what most executives want: performance.

Building a psychologically safe

work environment starts with making the case that the quality and candor of conversations matter for results. This is not an abstract claim: Achieving performance in knowledge-intensive work relies on integrating the ideas and expertise of multiple people, which requires a willingness to speak candidly in a timely manner. In contrast, it’s harder to create change when the stated goal of psychological safety is “to help people feel safe” or “to become better listeners.” Those things matter, but they’re means, not ends.

Senior executives will buy into the importance of psychological safety when they appreciate its role in solving complex problems. Help your team practice candor and vulnerability in regularly scheduled, safe sessions. Then, encourage participants—and leaders in particular—to share stories that portray how candor, vulnerability and perspective-taking have enabled successful outcomes. As more people start to practice these interpersonal skills as part of their work, evidence of their effectiveness will grow.

Train both individuals and teams

In sports, winning teams un-

dergo two kinds of training, one focused on individual skills and one centered around team practice. The same is true for management teams. Individual executives must learn and practice the skills of perspective-taking and inquiry that facilitate the candid sharing of ideas and concerns. But these skills will only take hold when teams practice them as a group, especially as a means to getting the “real work” done. This means participating in generative dialogues—conversations where multiple perspectives are integrated to generate novel solutions for how to move forward—about complex topics, structured and facilitated in a way that allows the team to assess the effectiveness of the various ideas as they go. To get started, you could hold weekly group sessions focused on individual skills alongside longer monthly sessions in which team members practice their new skills together.

Incorporate visualization

Visualization is used in various settings, ranging from athletes seeking to break world records to therapists helping individuals alter troubling behaviors. Managers can tap into the power of

visualization by leading weekly sessions in which participants are asked to visualize recent situations where they were successful at speaking candidly or at creating an atmosphere where others were able to engage fully. Participants can also be asked to visualize an upcoming situation and carefully walk through how they might act to create the right atmosphere for navigating complex topics or decisions. Visualization techniques emphasize detail; the idea is that by envisioning and writing down specific, tangible descriptions, people will be better able to internalize new skills and practices.

Normalize vulnerability related to work

It’s normal to experience mild anxiety when you feel vulnerable. Research on anxiety training shows that practicing small acts of vulnerability can help reduce this anxiety. In light of this, managers may want to ask executive teams to identify an important topic on which they've been unable to make progress and then facilitate a dialogue that uses perspective-taking and candor. Before engaging in this exercise, managers can “warm up” the team to interpersonal risk-tak-

ing by presenting safe, low-impact challenges for discussion. This is important—if participants hold back important yet sensitive or uncomfortable information, the dialogue won’t produce results.

Foc using on per for ma nce, working at both the individual and group level, using visualization, normalizing vulnerability and (above all) using real problems to develop skills while making progress on thorny issues constitute a powerful approach to altering the climate and capabilities of any team. We admit that this is hard work, but it’s what makes it a valuable competitive advantage.

Especially in tumultuous times, managers and their teams depend on candor, speed and creativity to make progress. Building capabilities related to psychological safety and perspective-taking cannot be considered “basic.” Increasingly, these skills are a vital part of achieving excellence in challenging business contexts.

Amy C. Edmondson is the Novartis professor of leadership and management at Harvard Business School.

Per Hugander is a strategic adviser and the author of the Leadership Backbone blog.

Style

BusinessMirror

www.businessmirror.com.ph

Sustainability is focus in new sneaker collection “SUSTAINABLE” is a buzzword that gets a lot of attention these days, especially amid calls for more eco-friendly options in the fashion industry. Keds (www.keds.com.ph) has embraced this movement by releasing a line of footwear that promise style and comfort without sacrificing sustainability in the name of fashion.

In their newest collection, Keds—the fashionable female’s go-to sneaker brand—is joining the move toward sustainability. Keds has been championing women since 1916 and they’re not stopping now with the SS21 Sustainable Collection, which highlights designs that encourage self-expression and female empowerment through style.

■ LIGHTER FOOTPRINT BUT STILL AS STYLISH: From classic sneakers to strappy sandals, this collection has them, making it perfect for all types of activities you have planned for the summer. All styles in this new collection come with Softerra Footbed for extra comfort.

■ CHAMPION LADIES: Nothing says “I am a woman and proud of it” better than prints celebrating women of all shapes, color and sizes. It’s made with organically grown cotton, making it soft yet durable and earth-friendly. It’s also very lightweight and breathable so it’s perfect for the summer heat.

■ KEEP IT SIMPLE...AND WHITE: Everyone needs a plain white sneaker. It’s the basic rule of fashion. The new sneaker from Keds is stylish, sustainable, and oh-so-comfortable. It’s made with organic cotton to keep it airy and soft. It also has a triple platform for some added height. Also, by using organic farming methods, workers avoid coming in contact with harmful chemical residue. It’s eco-friendly and people-friendly.

■ CHILLAX: The new favorite weekend shoe—slipon sneaker that’s great days when you want to dress down but still look fashionable. Also, who doesn’t love a good floral print? It practically screams summer.

The footbeds are removable so you can bring them out for some air to keep them fresh. Like the shoe’s upper, it’s also made with organic cotton and lined with breathable jersey for added flexibility and comfort.

■ TRIO ECO SANDALS: If you’re not the sneakers type of gal, then consider the Trio Eco Sandals—the perfect blend of sporty and chic for outdoor activities. They are by far the most eco-friendly shoes in the brand’s latest collection, using 20 percent recycled rubber for the outsoles, and 100 percent recycled polyester webbing with TENCEL Lyocell/polyester blend lining for the straps.

As with all Keds footwear, style and comfort are never compromised. Its footbed is made of EVA + 20 percent BLOOM foam which means it practically molds to your feet for that customized fit. It also has anti-blister padding around the ankle, so you don’t have to worry about any discomfort against your skin.

Editor: Gerard S. Ramos

• Monday, July 19, 2021

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Miss World Philippines 2021 Winnables

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HE thrill of winning a beauty title—and the privilege of raising the flag of the Philippines internationally—is at full throttle. Miss World Philippines, after a marked absence from the scene last year, will stage its finals night on July 25, Sunday, at the Okada Manila in Parañaque. It will be aired on GMA Network.

For the 10th solo edition, the winners will represent the Philippines in Miss World, Miss Supranational, Miss Eco International, Reina Hispano Americana, Miss Tourism, Miss Eco Teen International, Miss Multinational and Miss Environment International.

In a beautiful field of 45, these are the awesome women with the winnability factor: ■ GANIEL KRISHNAN, 26 (KAWIT, CAVITE): “Prior to landing my job as a lifestyle and showbiz reporter, I was actually assigned to do police beats and crime reports. I experienced covering drug buy-bust operations with nothing less than a bullet-proof vest.

Definitely not for the faint-hearted.”

■ KATHLEEN PATON, 24 (AKLAN): “I’m so grateful to be given this platform to voice out mental health awareness. Battling a mental health issue in itself is already so hard and having to fight the stigma is even harder. I want to be that voice and fighter to bring about more change. This is for all my fellow mental health illness battlers. In this uncertainty, I hope you find the strength and resilience to keep on trying.”

■ TRACY PEREZ, 28 (CEBU): “[The greatest realization during the pandemic] is that we have to have a safety net all the time. We have to be financially stable, because we’d be more comfortable no matter what pandemic hits us in the future.”

■ ANN PALMARES, 22 (ILOILO CITY): “I am currently juggling my time between schoolwork as a BS management accounting student and community service for my project Beauty Behind Bars, where we provide livelihood for women deprived of liberty in the Iloilo City Jail.”

■ DANICA DILLA, 26 (IRIGA CITY, BICOL). “At a very young age, I experienced people teasing me for having ‘big round eyes.’ It made me lose my self-esteem and it took me a while to fully embrace it. If there's one valuable lesson I learned from that experience, it is to ‘never allow anyone to make you feel less.’ So, if you'll ask me today what my favorite facial feature is? I will confidently answer, ‘My eyes.’”

■ DINDI PAJARES, 28 (ORANI,BATAAN): “I’m currently an international flight attendant and part of the Philippine Air Force Reserve Command, so you can also call me Sergeant Dindi. And, yes, I can wear high

heels and military boots. Fun fact about me is I’m an old soul. I love watching classic Filipino movies.

My favorites are Bituing Walang Ningning by Sharon Cuneta, Abakada Ina by Lorna Tolentino and Himala by Nora Aunor.”

■ ASHA GUTIERREZ, 26 (TAGUIG CITY): “Being a national basketball athlete, I learn the value of hard work, discipline and team work. I’m also an international Latin dancer, a yoga teacher and a vegan as I promote health and fitness.”

■ DANNAH TEMPRA, 19 (MISAMIS ORIENTAL): “[A tip to combat boredom during the pandemic] is to always look in a positive direction because we can always overcome any challenges in life with a positive attitude.”

■ ANNE DE MESA, 22 (BATANGAS CITY): “This pandemic [has been] really a roller coaster ride for everyone. Even I, at some point, felt like this pandemic was taking a toll on our dreams. But I am also thankful to have the time to discover new things which helped me keep afloat. Doing my own makeup was one of those discoveries. It was not only therapeutic but it helped me gain more confidence in myself.”

■ JANELLE LEWIS, 19 (ANGELES CITY, PAMPANGA): “The pandemic was rough but I didn’t stop looking

for ways to keep my mind off of everything. Then I learned how to do my makeup and everything completely changed, it made me feel victorious. People don’t understand how much doing my makeup helps me release stress. It’s my way of escaping into my own little world.”

■ RACHEL VALERA, 28 (BUKIDNON): “In my graduate program, Masters of Arts in English Language, I wrote a thesis, titled ‘The Case of Winning Filipina Beauty Queens: Rhetorical Appeal in the Language of Empowered Women.’ I am a strong advocate of cultural preservation, awareness and sensitivity not only in my province but the entire country, as well.”

■ EMMANUELLE VERA, 26 (TAGUIG CITY): “For everybody asking why I joined a pageant when both pageantry and competing are so out of character for me (I am literally the chillest, most cowboy person; I don’t ever wear makeup except for work, and my choice of footwear is typically flip-flops), well, here’s your answer. I wanted to do something more meaningful than just performing for entertainment’s sake. I wanted to be a part of the solution to the societal problems and injustices I weep over. I wanted to finally share with you guys the causes that have been dear to me since I was a young girl. And finally, I want to continue to entertain but purposefully.” ■

CLOCKWISE: Janelle Lewis, Dannah Tempra, Anne de Mesa, Danica Dilla, Kathleen Paton, Dindi Pajares, Ann Palmares, Asha Gutierrez, Rachel Valera, Tracy Perez, Emmanuelle Vera and Ganiel Krishnan PHOTOGRAPHED BY MARK NETO DIAZ

An immersive beauty shopping experience might just bring back your makeup mojo

AN immersive beauty shopping experience is the one thing makeup and skin-care enthusiasts have missed in this pandemic. This is what LOOK at SM Aura Premier offers: an experience that’s fun and immersive, guaranteed to bring back your missing makeup mojo.

LOOK, which opened in 2020, commissioned international creative and digital agency Malherbe Paris to do its store concept, design and brand identity as a multi-brand beauty concept store.

Thus, you will see a “Store Studio,” where you can enjoy free Nespresso coffee and hang out. It can serve as a waiting area for partners, boyfriends and husband. It is also a venue for brands and experts to hold events, talks and tutorials. There’s also music playing while you shop. Inside, you’ll find department store brands like NARS, Benefit, Laura Mercier, Innisfree, Laneige, Clarins, Aveda, Make Up For Ever and Shiseido.

You’ll also see niche and hard-to-find Western and

Asian brands such as The Ordinary, Fenty Beauty, Huda Beauty, Glossier, Klavuu, VT Cosmetics, Cerave and many others. If you love luxury beauty, SK-II, Shu Uemura, Gucci and YSL are also at LOOK. If you can’t go to the physical store, you may also shop online. Check out the LOOK web site (bit.ly/LookPH) or download the LOOK app available for iOS and Android (bit.ly/LOOK-DownloadApp).

Be a “LOOK List” member and enjoy the perks of their rewards program, including welcome voucher of P300 (with minimum purchase of P3,000), free samples and birthday treat, exclusive offers and invite to events, free delivery vouchers, store credit of up

to P2,000 for high-spenders (who also get a virtual personal shopper) and bounce-back voucher for Click & Collect shoppers.

Now for the fun part: Here are some of what we think are the best beauty finds at LOOK: ■ Embryolisse Lait Creme Concentre is a French drugstore classic that used to be available only on e-commerce platforms in the Philippines. This is an ultra rich, moisturizing creme formulated with essential fatty acids as well as natural ingredients like shea butter, beeswax, soy proteins and aloe vera. You would think this would be greasy but it’s really not. It makes the skin soft and supple.

■ Gucci Satin Lipstick in The Fallen Sparrow was named after a 1940s movie but the shade and texture are very modern. You cannot go wrong with this rosy shade (sometimes described as a pinky red plum).

■ Charlotte Tilbury Airbrush Flawless Finish Setting Powder is considered one of the best finishing powders in the world. It has a blurring effect and if you have good skin, you can actually wear this on its own.

■ KOCOSTAR Papaya Tropical Eye Mask is perfect for those who are lazy to apply eye cream. This is actually fun because you put them under your eyes for just 15 minutes and enjoy the cooling effect it has.

■ Cerave Renewing SA Cleanser is a TikTokfamous product that contains salicylic acid. This cleanser is good for acne-prone skin and oilycombination skin. It can also be used by those who have skin issues like keratosis pilaris (chicken skin).

■ The Ordinary Lactic Acid 10 percent + HA 2 percent is an alpha hydroxy acid that offers mild exfoliation. Some people even use this on their scalp when they are suffering from dandruff. Disclaimer: This product may increase your skin's sensitivity to the sun so always wear SPF 50.

■ Make Up For Ever’s new Ultra HD Setting Powder mattifies and sets makeup for 12 hours and promises to be “undetectable.” This is made for those who wear makeup under their masks. It comes with an ultra-soft velour puff for a precise application. The pointy tip of the puff allows you to reach the smallest areas of the face such as the sides of the nose or under the eyes.

LOOK at SM Aura Premier carries some of the best brands in drugstore, “mass-tige” and luxury beauty

B6 Monday, July 19, 2021

CitizenWatch: LGUs need digital connectivity to strengthen virus response and vaccination PH, China share prevention and control of COVID-19, ‘The Plague of the Century’

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HINESE academician Zhang Boli, one of the most prominent figures in China’s fight against COVID-19 considers the corona virus to be the “Plague of the Century.” Sharing the China experience, he stressed how preventive measures were executed.

He discussed the importance of early intervention to reduce severe conversion rate and the integration of Chinese and Western medicine with comprehensive rehabilitation treatment such as breathing training, physical therapy, Taichi etc. , psycho-therapy to prevent after effects of the Covid-19 infection such as physical injury (damage to immune function, heart, lung and kidney) and psychological trauma such as insomnia, anxiety and depression.

He had also introduced Xuanfei Baidu Decoction, another traditional Chinese medicine widely used in China’s fight against COVID-19.

These and more were discussed the webinar, entitled “Learning from the China Experience – Control and

Surge Prevention”, spearheaded by the Department of Foreign Affairs’ Foreign Service Institute and the Philippine Archipelago International Trading Corporation (PAITC).

Boli, together with Dr. Jia Zhenhua also discussed the utilization of Traditional Chinese Medicine (TCM) in the prevention and treatment of respiratory infectious disease in China. During his talk, he broke down COVID-19 based on Collateral Disease Theory and discussed how this is treated through the approach of Traditional Chinese medicine. One treatment of note that was mentioned was Lianhua Qingwen capsule, which is already widely used and distributed in major drugstores in the Philippines.

Boli is honorary President of the Tianjin University of Traditional Chinese Medicine and recipient of the national honorary title of People’s Hero in August 2020 while Dr. Zhenhua, Chief Physician of TCM, Doctoral Supervisor and President of Hebei

Institute of Integrated Traditional Chinese and Western Medicine.

On the Philippine side, guests were able to listen talks from two of the most important figures in the country’s fight against COVID-19 – National Task Force Deputy Chief Implementor and Testing Czar Secretary Vince Dizon & NTF Contact Tracing Czar and Baguio City Mayor Benjamin Magalong.

“With over 4 Million deaths and 186 Million infections and counting globally, knowledge sharing is an essential form of cooperation in managing COVID-19. The slogan is: No one is safe unless everyone is safe,” said DFA Secretary Teodoro Locsin, Jr. in his opening remarks.

Through an interpreter Boli further said that China is sharing its TMC knowledge with the world through donations of traditional Chinese medicine, to different countries. Webinars were also done in other countries, he said.

For her part, PAITC President, Olivia Limpe-Aw noted the similarities in terms of experiences, government policies and values of both countries in dealing with the modern-day virus “Quarantine with medication is key, integration of Chinese and western medicine with rehabilitation treatment all help to increase curative rate and reduce mortality rate. Learning that there are two other TCM to treat COVID-19 aside from Lianhua Qingwen is something new to us so it has expanded our knowledge on TCM and that there are other options that we hope will be available in the Philippines in the next few months.

“Since it looks like COVID-19 isn't going to be over that easily, so we will have to deal with it -manage, mitigate so we can all move on and bring back normalcy to our lives,” Limpe-Aw said.

Smart boosts PNP Regional Office, ramps up LTE and 5G rollout in La Union

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LDT and its wireless arm Smart Communications, Inc. have partnered with the Philippine National Police in the construction of a Multi-Purpose Building at Camp BGen Oscar M Florendo, Parian, City of San Fernando in La Union, as part of PLDT and Smart's overall efforts to assist the needs of communities and public institutions like the PNP. Under this partnership with the PNP, PLDT and Smart have also put in place network facilities that assure connectivity for the community of Camp Florendo, its surrounding areas in the City of San Fernando, and the larger La Union province.

In addition to deploying an LTE site inside the camp, Smart has also fired up 5G in the City of San Fernando, as well as in Agoo, Bauang, Naguilian, Rosario and Tubao in La Union, as part

of the company's ramped-up rollout of its wireless network across the country. To date, 100% of Smart's sites in La Union are already on LTE. Smart's mobile network, the fastest mobile network in the country according to independent analytics firms Ookla and Opensignal, covers more than 96% of the population from Batanes to Tawi-Tawi.

Supporting this network is PLDT’s fiber infrastructure, the most extensive in the country at over 511,000 kilometers as of June. To date, Smart has also fired up more than 4,000 5G sites nationwide.

“We are grateful to PLDT and Smart for their outstanding contribution and unwavering support for PRO 1, especially for the construction of this multi-purpose hall,” said PNP Chief Gen. Guillermo T. Eleazar, who led the inauguration ceremonies attended by PNP Regional

Director Brigadier General Emmanuel B. Peralta and PLDT Enterprise Senior Relationship Manager Michael Catan, who received a Plaque of Appreciation from the PNP on behalf of PLDT Inc and Smart Communications President and CEO Alfredo S. Panlilio.

“Working with our government partners like the PNP to deliver fast and reliable connectivity to our fellow Filipinos is important to us at PLDT and Smart,” said Panlilio. “Together, we can support our increasingly connected societies especially in the new normal.”

PLDT and Smart’s relentless push to provide connectivity for all is aligned with the group’s long-standing commitment to help the Philippines attain the UN’s Sustainable Development Goals, particularly SDG #9: Industry, Innovation, and Infrastructure.

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ONSUMER advocate CitizenWatch Philippines urged business groups to help local governments with digital solutions to strengthen ongoing COVID-19 response and vaccination deployment amidst the prevailing high rate of infections.

In a recent statement, CitizenWatch Convenor, Atty. Tim Abejo said: “Ongoing COVID-19 responses and vaccination deployment in LGUs need to be empowered with the capability to harness digital technologies and fast connectivity to avoid leakages and delays.”

Abejo pointed out that, “Government data shows that daily infections hovering at 5,000 a day show that the COVID 19 virus is still spreading at an alarming rate. Sustained communication, accurate data gathering, and monitoring of vaccination data will be useful not just for implementation but will be a valuable reference for any unforeseen permutations of the virus.”

“A practicable and very doable example is the Free Wifi initiative deployed by the local government of Mandaluyong in cooperation with Globe to support daily information and communication for its vaccination operations and ongoing COVID-19 response. We strongly encourage more private sector interventions that would help hasten population herd immunity that we need to achieve as soon as possible to reverse the trajectory of this deep economic crisis,” Abejo said.

Carmelita “Menchie” Abalos, Mayor

of Mandaluyong City, said, "Alam natin kung gaano kahirap at ka-importante ang communication at this time. Every day, we need to reach out one by one to 10,000 Mandalenyos to inform them of their vaccination schedule, but Globe's AMBER facilities help us make a better and smoother coordination for our MandaVax program."

Last year, GoWiFi hotspots were also installed at the National Center for Mental Health (NCMH), Mandaluyong Public Markets 1 & 2, and Puregold Price Club-Shaw.

Peter Maquera, Senior Vice President of Globe Business for his part, said, “With digital solutions proven to be critical to overcome the challenges of the pandemic going into the new normal, I'm happy to share that Globe will be supporting the city with Globe GoWiFi and AMBER, technologies that we hope will improve emergency-preparedness and manage the safety of Mandalenyos.”

Abejo said, “Digital readiness is a complex challenge for government and private sector leaders as we are just beginning to appreciate the vast benefits of digital technologies as an indispensable tool for continuity and sustainability towards what we hope will be a better balanced world that has learned from the lessons of this global pandemic.”

“The fight against COVID-19 is far from over, and nothing short of an all of society synergy and a total victory against the virus will get us back on track to development mode,” Abejo said.

VIRTUAL ART EXHIBIT. Vintana.Ph’s co-founder, Ram Bautista (left) and Angela Gaddi (center) unveiled their latest virtual art exhibit, “The Little Big Art Show,” last July 12. The exhibit has showcased the astonishing creations from the minds and hands of a select group of Filipino artists, diving deep into the heart of obsession, history, solitude, freedom, rebellion, love, and loss amid a precarious era. Log on to www.vintana.ph to enjoy the amazing virtual exhibit.

16 Philippine universities participate at Teatro Europa, the Second Edition

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EATRO Europa comes back this year with table reads from 16 to 30 July, with full video performances from 1 to 31 August and re-runs from 1 to 30 September on its official Facebook Page Teatro Europa @ TeatroEuropaPH. The European Union Delegation to the Philippines, together with the EU Member States, their EU cultural institutes, and 16 Philippine universities, proudly opens its theater festival “Teatro Europa, The Second Edition.”

Sixteen European theatre plays from famous playwrights will be showcased to share European culture focusing on genres such as comedy, tragedy, drama and romance.

“Theatre is a mirror of all human emotions and helps to better understand Europe and its culture, from the plays played in ancient Greece to the current online performances,” says EU Ambassador Luc Véron. “Teatro Europa provides a platform for artistic Filipino youth to share their talents in acting, directing and production design”.

The 16 partner universities performing theater pieces include: 1. Colegio de San Juan de Letran – Taruffe by Moliere of France 2.

Saint Louis University – Rur by Karel Čapek of the Czech Republic 3. Wesleyan University – Pariah by August Strindberg of Sweden

4. University of the East – Life’s a Dream

by Pedro Calderon de la Barca of Spain 5.

University of Makati – The Horrid Little Princess by Geneviève Damas of Belgium 6. Meridian International College - The Salt Princess (Hungarian Folktale) of Hungary 7. University of San Agustin – Snow by Stanislaw Przybyszewski of Poland 8. La Salle University – Erasmus Montanus by Ludvig Holberg of Denmark 9. Mapua University – Riders to the Sea by John Millington Synge of Ireland 10. Jose Rizal University – The Birds by Aristophanes of Greece 11. Arellano University – II Vero Amico by Carlo Goldoni of Italy 12. Pamantasan ng Lungsod ng Marikina – Lucifer by Josst van den Vondel of the Netherlands 13. First City Providential College – La Ronde by Arthur Schnitzler of Austria 14. Pamantasan ng Lungsod ng Valenzuela – My Three Angels by Sam and Bella Spewack of Romania 15. University of St. La Salle – Broken Heart Story by Saara Turunen of Finland, and, 16. Rizal Technological University – Leonce and Lena

by Georg Büchner of Germany The festival will hold a limited physical performance in late August in the walled city of Intramuros. A series of webinar with known theatre directors will also be held during the Teatro Europa season.

Marketing BusinessMirror

www.businessmirror.com.ph

Monday, July 19, 2021 B7

The coronavirus chronicles: What will the post-pandemic office look like?

PR Matters

By Millie F. Dizon

n Music: John Mayer embraces easy-listening rock with ‘80s polish on ‘Last Train Home’

MANILA, PHILIPPINES—John Mayer is back today with a brand new single and music video via Columbia Records entitled “Last Train Home.”

Embracing retro-pop touchstones with soft rock production that brings to mind the golden years of Toto, the song itself stands out as classic Mayer with an unforgettable guitar riff, a twist of keys, and quotable lyrics. Not to mention, Maren Morris makes a cameo in the track and music video, while both percussionist Lenny Castro (Toto) and keyboardist Greg Phillinganes (Stevie Wonder, Eric Clapton, Michael Jackson, Toto) perform, alongside Mayer.

Upon its release, “Last Train Home” garnered notable acclaim from music critics. Billboard praised the track for its “slick rock production with an ’80s polish,” while Vulture wrote that it’s “80s enough to make Bryan Adams take that first real six-string back to the five-and-dime.”

About Sob Rock

After teasing its arrival on social media, on billboards, and in print,

the GRAMMY Award-winning artist, guitarist, and producer will unveil his eighth full-length album, Sob Rock, in stores and at all DSPs on July 16, 2021. Produced

by John Mayer and Don Was, and recorded at Henson Studios in Los Angeles, the album marks Mayer’s first solo offering since 2017’s gold-selling The Search for Everything. The pre-order/presave just went live—HERE. The full tracklist can be found below: Sob Rock Tracklist n Last Train Home n Shouldn’t Matter but It Does n New Light n Why You No Love Me n Wild Blue n Shot in the Dark n I Guess I Just Feel Like n Til the Right One Comes n Carry Me Away In late March, he took to TikTok to play a few bars from “Last Train Home” live, and he generated 1.4 million views in the process. Without warning, Sob Rock ads popped up in subways on both coasts in New York and Los Angeles before billboards lorded over L.A. last month. On Tuesday, he shared the cover art for Sob Rock via his Twitter and spoke with the Wall Street Journal about the single and album. In classic fashion, Official Zines promoting the album have been mailed to fans who signed up at the official Sob Rock site. The issue notably features an interview between Mayer and producer Don Was. Sob Rock kicks off a new chapter for John Mayer and pop music.

WWW.FREEPIK.COM

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ITH things slowly reopening, there will definitely be changes in working arrangements as WFH workers prepare to go back to office life. But what kind of office will they be going back to post-pandemic?

It will be good to keep in mind that the modern office as we know it now, “was created after World War II, on a military model—strict hierarchies, created by men for men, with an assumption that there is a wife to handle duties at home,” Joanne Lipman shares with us in a Time Magazine article, The Great Reopening.

But, she adds, “after years of gradual change in Silicon Valley and elsewhere, there is a growing realization that the model is broken...For many, this has become a moment to literally define what is work?”

Business leaders have approached this challenge in different ways. She notes that “tech firms including Twitter, Dropbox, Shopify, and Reddit are allowing all employees the option to work permanently, while oil company Phillips 66 brought back most staff to Houston headquarters almost a year ago.”

In the financial industry, “titans like Blackstone, JP Morgan, and Goldman Sachs expect employees to back on site this summer. JP Morgan CEO Jamie Dimon recently declared that remote work wasn’t for those who want to hustle. It doesn’t work in terms of spontaneous idea generation.”

Lipman points out that while business models have evolved through the years— “conglomerates in the 1960s, junk bonds in the ‘80s, tech in

the 00s,—the workplace structure, of office cubicles and face time has remained the same.”

And it’s a good time to let creative ideas flow.

Hamid Hashemi, the chief product and experience officer at coworking space company WeWork, agrees “it’s time to say goodbye to the familiar idea of an office—a single, static space with assigned desks, aging technology, and a bias towards employees who commute five days a week.”

He is quoted by Sophie Downes in an Inc.com article For a Glimpse of the Post-Pandemic Office, Take a Look at WeWork’s New Design Plans saying that “the concept of headquarters in the way we’re all used to it—I don’t think it’s going to exist in the future.”

In describing how the company is transforming its 800

There’s nobody quite like John Mayer. He has emerged as a GRAMMY Award-winning artist, celebrated songwriter, and iconic guitar player all at once.

The Bridgeport, CT native introduced himself on the quintupleplatinum Room For Squares in 2001 and has earned three #1 debuts on the Billboard Top 200 with the triple-platinum Heavier Things [2003], doubleplatinum Battle Studies [2009], and gold Born and Raised [2012].

In addition to selling over 20 million albums worldwide and gathering billions of streams to date, he has garnered seven GRAMMY® Awards, including “Song of the Year” for “Daughters.” In 2015, Dead & Company was founded, with Mayer on lead guitar as well as vocals. Since its formation, the band has completed six tours, playing to 3.4 million fans, and has become a record-breaking stadium act.

Most recently, 2017’s The Search for Everything bowed at #2 on the Billboard Top 200 and went gold. He reveals his eighth album, Sob Rock, in 2021.

For more information, check Johnmayer.com and Sobrock.net.

n Insight: Building a future-proof business in the post-pandemic world, E-Huddle highlights by Eastern Communications

MANILA, PHILIPPINES—The economic repercussions brought by the Covid-19 outbreak have further highlighted the need for

plus locations around the world, Hashemi says that the postpandemic office will incorporate two elements: flexibility and collaboration.

Flexibility

Hashemi says that WeWork is designing its new spaces to be modular. They’ll include freestanding private offices, complete with air quality sensors and noise sensors, which can be built or disassembled in a single day.

“Think of it as Lego pieces,” he says.

WeWork has also displayed flexibility in the way it deals with its clients, allowing them to rent offices and even individual desks for any length of time—not just on an annual basis. It also introduced “allaccess” memberships that let people work from any of its lo-

businesses to be future-proof.

While some companies struggled to adapt, others had the agility and flexibility to adjust amidst this period of uncertainty. But what does it really take to be future-proof?

Industry experts addressed this question at the recent webinar entitled “E-Huddle” hosted

by Eastern Communications, one of the premier telecommunications companies in the Philippines. Highlighting digital trends and best practices, Eastern’s E-Huddle was an avenue for businesses to learn how to cope and thrive in the now normal.

Accelerate digitization

Sharing his experience with Cisco during the crisis, Cisco SDWAN Sales Specialist Ronald Van Kleunen noted that to achieve a resilient enterprise architecture, one must have the ability to be flexible to shift and scale IT capacity, capability, and resources where the demand lies and as the market environment evolves.

One key way to future-proof the business is to implement technologies that can better equip the company for uncertain circumstances, such as cloud and cybersecurity. Whether a startup or a large company, digital transformation can help drive productivity and optimize workforce management.

“You must have the ability to develop and automate new capabilities in an agile manner as the business need arises. No compromise on employee safety,

cations for a flat monthly fee.

Collaboration

While Hashemi believes that videoconferencing services like Zoom aren’t conducive, he acknowledges that it is here to stay. That is why they will be integrating these effectively into in-person meetings.

With this, he says WeWork is adding larger screens on the walls of its conference rooms and more cameras on the tables.

Each room can also be rearranged into a classroom setup.

WeWork is even rolling out holographic technology at its locations to let organizations host global evens “without having to cram hundreds of people into one building.”

He adds that the office of the future “might also incorporate more of the activities that work-

security, productivity, and experience across a flexible distributed working environment,” said Ronald.

Utilize remote collaboration

Remote work will stay for a while even post-pandemic. This means utilizing remote collaboration within the business is imperative to remain productive despite the distance. Ronald shared that this can help a company act proactively and adapt to new work environments while promoting efficiency and productivity.

Collaborating across cities, countries, and time zones does not have to be a daunting task.

Once you’ve found the right combination for your team, you will be able to work as effectively and efficiently as you would in an office environment.

Incorporate sustainability

According to Abdelrahman Ayman, Major Oak Managing Partner, companies should also consider the importance of incorporating sustainability initiatives and practices using the Triple Bottom Line: people, profit, and the planet. This method believes that companies should commit to focusing as much on social and environmental concerns as they do on profits.

Corporate sustainability measures the resiliency of the business, based on its impact on the environment, relationship to the community, and contribution to the economy. All three factors

ers previously did before and after work.” At WeWork spaces, “each lobby or ‘center of gravity’ is being turned into a marketplace with extras like food delivery areas, laundry facilities, and Amazon lockers.” Those marketplaces will be open to everyone who works in the same building, not just WeWork members.

All in all, Hashemi says that the pandemic “presents an opportunity for companies to rethink not only their physical offices, but also their entire approach to work.

Indeed, so much has happened since the modern office was created after World War II on a military model. Technology, the open office concept, the growing importance of life/ work balance, WFH arrangements, and the limitations presented by the pandemic have shown us that the workplace has to be transformed.

“Crisis is good,” says Hashemi. “It’s a time when you can reinvent yourself and take a really hard look at things that you do, and you prepare yourself for the future.”

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. Millie Dizon, the senior vice president for Marketing and Communications of SM, is the former local chairman.

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.

play a major role in determining if your business can stand the test of time.

Empower your customers

Gian Carlo Conde, Eastern Communications Head of Enterprise Marketing, shared that taking customers into consideration also plays a big role in keeping your business future-proof.

Consumer behaviors constantly change, hence working and collaborating with them will allow you to provide the best product or solutions possible.

“Empowering your customer starts with listening to them and getting a better understanding of where they are currently and where they want to be. Don’t sell just for the sake of making sales, transition from product selling to solution selling based on pain points or needs,” he added.

The pandemic indeed has taught lessons among many industries in its most challenging ways. Nonetheless, there is no other way but forward for businesses to thrive as they continuously navigate the pandemic era and hereafter. Through Eastern Communications’ E-Huddle webinar series, businesses get to learn from key opinion leaders who share their own expertise on digital transformation and ways to implement for ward planning measures to help future-proof companies for years to come.

To learn more about futureproofing your business, visit eastern.com.ph.

BUCKS A WIN SHY OF CROWN

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HOENIX—Jrue Holiday seized his chance to give the Milwaukee Bucks the lead in the National Basketball Association (NBA) Finals.

Took it right out of Devin Booker’s hands, actually.

Holiday’s steal and alley-oop pass to Giannis Antetokounmpo for a dunk sealed a wild Game 5 and gave the Bucks a 123-119 victory over the Phoenix Suns on Saturday night.

“It’s who he is,” teammate Pat Connaughton said. “He’s a winner.”

And for the first time in 50 years, the Bucks have a chance to be.

Antetokounmpo had 32 points, nine rebounds and six assists. Khris Middleton added 29 points, and Holiday had 27 points and 13 assists.

The Bucks fought their way out of an early 16-point hole by flirting with the best-shooting night in NBA Finals history, but then won it by making a huge defensive play for the second straight game.

They can win their first title since 1971 on Tuesday night in Milwaukee.

“Obviously we know what the deal is. It’s one game away from being the NBA champ,” said Antetokounmpo, whose postgame press conference was delayed because he was dehydrated.

Booker had 40 points, his second straight 40-point game. But with

the Suns rallying and down one with 16 seconds left, he drove into the middle and Holiday wrestled the ball out of his hands.

“I was just trying to score the ball, he was behind me,” Booker said. “I turned and he was right there.”

Antetokounmpo sprinted down the court to his right and Holiday— rather than pulling the ball out to run the clock down—fired a perfect lob pass that the Greek Freak slammed down while Chris Paul fouled him to make it 122-119.

“Giannis took off and he was calling for the ball,” Holiday said.

“At that point, I just threw it as high as I could and only where Giannis could go get it,” Antetokounmpo missed the free throw, but the Bucks grabbed the rebound and Middleton made one free throw for the final point of the night.

Before the defensive stand, Milwaukee’s offense was the story.

The Bucks made 32 of 45 shots in the middle two quarters, outscoring the Suns 79-53 during that stretch.

Milwaukee became the first road team to win in the series and with one more victory will complete its second 2-0 comeback in this postseason—along with the fifth in NBA Finals history.

Game Five winners of a tied series have won the series 21 of 29 times in the NBA Finals. AP

Sports

Meralco clobbers SMB for 2-0 start in Philippine Cup

BusinessMirror

B8

By Josef Ramos

| Monday, July 19, 2021

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mirror_sports@yahoo.com.ph Editor: Jun Lomibao

DEFENDING champion Tadej Pogacar just needs to play it safe in Saturday’s time trial to put the finishing touches to his summer triumph and retain his yellow jersey. AP

S GIANNIS ANTETOKOUNMPO celebrates with Jrue Holiday (21) after the Bucks beat the Suns in Game Five on Saturday. AP

Perlas Spikers put in isolation

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HE Premier Volleyball League (PVL) on Sunday put on hold all scheduled games of the Perlas Spikers in the Open Conference after a member of the team delegation was tested positive for Covid-19.

To prevent the spread of the infection, the positive individual has been moved to an isolation facility with all members of the team delegation quarantined in individual rooms.

They will all undergo RT-PCR testing on the fifth day since their last RT-PCR test.

“Pending the results [of the tests], the scheduled games of

Perlas have been postponed,” said Ricky Palou, president of the organizing Sports Vision Management Group, Inc. The Perlas Spikers were booked to play in Saturday’s inaugurals of the country’s first pro volley league at the PCV Socio-Civic Cultural Center in Bacarra.

While the Perlas case is an isolated one, the organizers and the hosts are leaving no stones unturned to ensure the safe conduct of play in the next five weeks with all nine teams and their respective delegations adhering to the strict health and safety measures of their bubble on and off the court.

AINT-EMILION, France—There was no drama this time, and Tadej Pogacar is all but guaranteed to win a second straight Tour de France.

The defending champion from Slovenia just needed to play it safe in Saturday’s time trial to put the finishing touches to his summer triumph and retain his yellow jersey. That’s exactly what he did, placing eighth almost one minute behind stage winner Wout van Aert.

It was a sharp contrast to last year’s final race against the clock at the Planche des Belles Filles, where the UAE Team Emirates rider clinched the overall win with a last-minute effort in one of the most remarkable turnarounds in the history of the race.

“Last year everything was decided on the last [time trial] and the emotions were by far stronger,” Pogacar said.

With the final day of the race on Sunday usually uneventful until the last sprint on the Champs-Elysees, the Stage 20 time trial marked the last serious test after nearly three exhausting weeks.

Given Pogacar’s near sixminute advantage at the start, it was unlikely someone would be able to knock the Slovenian off his perch.

As Van Aert claimed the

OOSTHUIZEN CLOSES IN ON CLARET JUG

S

ANDWICH, England—So flawless for so long, Louis Oosthuizen started making his worst swings of the week as his two-shot lead evaporated in the British Open on Saturday.

With an hour left in a third round as undulating as the fairways at Royal St. George’s, Oosthuizen found himself tied for the lead with Collin Morikawa and Jordan Spieth and facing a 10-foot par putt to avoid falling behind.

“I was a bit upset there,” the South African said, “but got myself quickly together.”

Oosthuizen delivered a key par save on the 15th and an eight-foot birdie on the par-three 16th. He

finished with a one-under 69, leaving him with a one-stroke lead and another good shot at ending his 11-year wait for a second major title.

“I will play my heart out tomorrow,” the 2010 Open champion said, “and see if I can lift the claret jug again.”

Saturday ended pretty much as it had started, with Oosthuizen, Morikawa and Spieth occupying the top three spots, three shots separating them.

Plenty happened in between.

Especially on the back nine and— most tellingly—on the 18th green, where Spieth missed a par putt from two feet for his second straight bogey to drop three shots back again.

RICK OLIVARES | bleachersbrew@gmail.com

BLEACHERS’ BREW

Waking up in these Covid games There is this man in a photo taken

by Yuichi Yamazaki of a Japanese man carrying a placard that reads, “No Olympics 2020. Use that money for Covid-19!”

Seeing that photo was like waking up from some deep sleep.

Maybe it is because I do not live in Japan and have been caught up

in my own day-to-day things trying to live, survive, and cope.

Maybe it is also because while looking for stories to write about as part of my job, I have forgotten what is practical, rational, and right.

So the Tokyo Olympics is on.

Honestly, now I am torn about it.

Barely 45 minutes earlier, he was just off the green in two at the par-5 14th hole and seemingly on the brink of taking the lead.

After making only par there and then bogeying Nos. 17 and 18, Spieth ran off for some putting practice after a round of 69. The R&A said he declined all media requests.

It wasn’t long before Morikawa and Oosthuizen, both one-time major winners some 10 years apart, were walking onto the green at the last. Oosthuizen’s long putt over a hump from the right of the green settled close to the hole for his par, then Morikawa slid a 12-foot birdie putt just past the hole. AP

On one hand, I think it should have been cancelled or postponed until this pandemic is beaten.

Japan stands to lose $800 million alone because of the lack of fans in the sporting venues. And that isn’t counting ancillary monies from side businesses who will lose as much, maybe more.

You cannot discount that. Every time a pitch is made for some international sporting event, one considers the economic benefits.

I surmise that after this Olympics—memorable or not—if Japan will bid for another Summer or Winter Games due to the financial losses for quite some time.

Okay, let’s not talk about profits here—existent or nonexistent.

The rub is—isn’t whatever money being poured into the Olympics better off spent for

31-kilometer stage from Libourne to Saint-Emilion, Pogacar did not take any risks, conceding 57 seconds to the Belgian champion. He will carry an insurmountable lead of five minutes, 20 seconds into the final day, a 109-kilometer stage from Chatou to Paris.

Pogacar won the delayed Tour last September at 21 and became the youngest champion in 116 years.

“I can’t compare both Tour de France victories. I can’t say which one is more beautiful,” he said.

“This time, I took the yellow jersey quite earlier. It has been totally different.”

Pogacar routed all of his rivals during the first week of crash-filled racing. He stamped his authority on the race in the first time trial in Laval and snatched the yellow jersey in the Alps. He reigned supreme in the Pyrenees with two consecutive stage wins, and did not need to go full gas in the burning heat enveloping the vineyards of Saint-Emilion.

It was Van Aert’s second stage win this year after the versatile Belgian claimed the double ascent of the Mont Ventoux.

On a course with frequent changes of direction, Van Aert delivered a vintage performance of raw power to claim a fifth

individual stage win at the Tour.

Van Aert clocked 35:53, winning by 21 seconds ahead of second-placed Kasper Asgreen.

Jonas Vingegaard was third, 32 seconds off the pace.

“It is quite something,” Van Aert said. “Winning a Tour de France time trial has been one of the biggest objectives in my career. I’ve been really focused on this day in the last couple of days, and I’m so happy that I can finish it off. The course was perfect for me, it was more rolling and faster than the first TT.” Van Aert can sprint, climb and time trial, but is too heavy to fight for the general classification. He worked in support of Jumbo-Visma leader Primoz Roglic and was given more leeway by his team after Roglic retired from the race.

“It’s been a real hard Tour de France for our team, but in the end, we have three stage wins and we have Jonas in second on GC, which is an amazing result for only four guys left, so I’m really proud of how we fight.”

Overall, Vingegaard cemented his runner-up spot ahead of Richard Carapaz, who lagged 7:03 behind Pogacar. AP

ERALCO beat San Miguel Beer, 85-63, at the resumption of the Philippine Basketball Association Philippine Cup at the Ynares Center in Pasig City on Sunday, spoiling the return of six-time Most Valuable Player June Mar Fajardo who missed the bubble season in Clark last year.

Last year’s top rookie Aaron Black and Chris Newsome delivered the goods at crunch time to help send the Bolts to their second consecutive win in the young season. They beat Northport, 85-63, in last Friday’s season opener.

“We got off to a slow start. I thought San Miguel Beer played aggressively in the first quarter, but we started playing our game, we started defending a lot better in the second half,” Meralco Head Coach Norman Black said.

“So to put San Miguel Beer behind is a big deal for us. As a coach, I am happy that we played them early,” Black added.

Newsome tallied 17 points, grabbed four rebounds and dished out six assists, but it was Black’s son, Aaron, who stood tall in the payoff period hitting seven of his 14 points there on top of three triples.

Ahead 79-77, Black nailed two straight triples followed by a Newsome jumper to pad Bolts’ lead to 87-77 with three minutes left in the game.

San Miguel Beer came to within 83-88 in the final minute, but Newsome nailed a 3-pointer to put the game out of reach, 91-83, with only 40 seconds left.

Reynel Hugnatan added 13 points and Nards Pinto chipped in all 11 points in the third period also for the Bolts.

Terrence Romeo left the game with a knee injury early in the fourth quarter but still lead the Beermen in scoring with 18 points on nine-of-18 shooting.

Fajardo, who recovered from a leg injury, scored only five points and got five rebounds in 18 minutes.

CJ Perez debuted for the Beermen with 17 points, while Moala Tautuaa had also 17 and 10 rebounds.

LOUIS OOSTHUIZEN looks at his ball as it lies in a divot mark on the 17th fairway during the third round on Saturday. AP

tackling Covid-19? This virus is a long way from being beat.

Didn’t some staff, athletes and workers who are a part of the Olympics test positive from Covid? That already tells you of the underlying danger of spreading this even more. We saw that in the recently concluded Major League Baseball All-Star Game that spread the virus because not everyone is vaccinated (or do they even want to).

I believe the Olympics is money not well spent. It’s impractical and even to the point of being selfish.

To make it up to the Tokyo Olympic Committee, the International Olympic Committee should have pushed it back when it is safer and better to host it… with Japan still running it.

That means pushing back

everything including the next hosts. It isn’t like it would be unfair.

The problem when you make it about money is you do not do the right thing. Your judgement and decisions are clouded by profit.

On the other hand, I understand the need to get on with various aspects of our lives. Sports is supposed to provide entertainment and even livelihood.

And yet, even with that, I am torn.

While people like me who lost my job due to this pandemic are scrambling to find alternative sources of income, others who are paid lavish sums of money are getting a chance to continue.

Okay, professional athletes are being paid by their corporate sponsors so that is the latter’s

look out, but national athletes get their support from the national government. Well, they do get some private support. Now if the latter is the case, then it is fine, but if it comes from the national coffers...now I am against it.

Mine is but a tiny voice in this. This column will not even make a dent. Besides, the games are here. When the action starts­ barring serious cases ­the Covid-19 concerns will be forgotten if only for the duration of the Olympics.

Let’s hope that after this unpopular Tokyo Olympics (50 percent of Tokyo’s population is against it and 78 percent of all Japanese feel the same way) the Olympic motto of “Citius, altius, fortius” that means “faster, higher, and stronger” will still remain in an athletic context and not in the spread of Covid-19.