BusinessMirror July 30, 2020

‘Credit metric to recover in a few years’

By Tyrone Jasper C. Piad

C

REDIT metrics are only seen returning to 2019 levels by 2023, S&P Global Ratings said, noting these are supported by growth outlook for the Asia-Pacific region.

“Our macroeconomic forecasts are the principal driver of our view of the outlook for Asia-Pacific financial institution credit,” S&P Credit Analyst Ryoji Yoshizawa said in a statement on Wednesday.

The debt watcher is expecting the Asia-Pacific economy to decline by 1.3 percent this year, adding that a 6.9-percent growth rebound is seen in 2021.

THE BROADER LOOK » A4-A5

SEAFARERS, SHIPS SOUND SIRENS, SEEK SOLUTIONS ROTARY CLUB OF MANILA JOURNALISM AWARDS

2006 National Newspaper of the Year 2011 National Newspaper of the Year 2013 Business Newspaper of the Year 2017 Business Newspaper of the Year 2019 Business Newspaper of the Year

Yoshizawa said that these forecasts represented a revision from growth of 4.7 percent and 4.8 percent in 2010 and 2021, respectively, prior to the pandemic.

“While we expect GDP [gross domestic products] trends to revert to pre-Covid levels by the end of 2023, we believe the outbreak will have permanently reduced the region’s economy by 2 percent to 3 percent,” S&P added.

Earlier this month, the credit rating firm said most banks in the Asia-Pacific region can withstand the financial shocks brought by the pandemic.

But S&P said this does not shield the banking industry from

increased credit losses, lower earnings and other heightened risks amid the pandemic.

In the Philippines, analysts agreed that the local financial system is well-capitalized to endure the pressure from this crisis. Preliminary data from the Bangko Sentral ng Pilipinas (BSP) show that the banking sector has capitalization amounting to P2.37 trillion as of May. This translates to capital adequacy ratio of 12.62, which is above the regulatory requirement, for the same period.

Bad loans of the local banks, meanwhile, reached P262.68 billion in May, which is 20 percent more than P218.89 billion notched

in the same period last year.

This is already 47.19 percent of the estimated amount of bad loans computed by BSP for this year. The Central Bank in May shared that the financial system is expected to book P556.6 billion worth of bad loans in 2020 amid the economic downturn.

S&P reported this month that banks across the world will incur credit losses amounting to $2.1 trillion for 2020 and 2021. Of this amount, $1.3 trillion is expected to be booked this year, which is more than double the 2019 level.

Majority or 60 percent of the potential losses in loans portfolio is seen to come from the Asia-Pacific.

BusinessMirror A broader look at today’s business

EJAP JOURNALISM AWARDS

BUSINESS NEWS SOURCE OF THE YEAR (2017, 2018)

DEPARTMENT OF SCIENCE AND TECHNOLOGY

2018 BANTOG MEDIA AWARDS

PHILIPPINE STATISTICS AUTHORITY

DATA CHAMPION

HOUSE PANEL OKs VAT ON DIGITAL BUSINESS www.businessmirror.com.ph

n

Thursday, July 30, 2020 Vol. 15 No. 294

P25.00 nationwide | 2 sections 16 pages | 7 DAYS A WEEK

COVID-19 RESPONSE SWELLS GOVT H1 DEBT TO MORE THAN P9T

By Bernadette D. Nicolas

O

AT least 354 overseas Filipino workers from Saudi Arabia, among the thousands displaced by the Covid-19 pandemic, arrive onboard a chartered flight on Wednesday afternoon arranged by the Department of Labor and Employment (DOLE). The DOLE has been working with the Department of Foreign Affairs in the repatriation of OFWs, and, as of last weekend, the two agencies said the number of repatriates had breached 100,000. NONIE REYES

T

By Jovee Marie N. Dela Cruz

HE House Committee on Ways and Means on Wednesday endorsed for plenary approval a measure imposing 12-percent valueadded tax (VAT) on goods and service providers using digital transactions such as Lazada, Netflix and Spotify.

House Ways and Means Chairman Joey Sarte Salceda said the VAT will only be imposed on goods and services above the P3-million VAT threshold.

“We have now clarified that digital services and the goods and services traded through digital service providers should generally be subject to VAT. This is just a matter of common tax sense,” Salceda said.

Salceda also noted the committee “has kept its promise of imposing no new taxes, guaranteeing

exemptions for small businesses, and closing loopholes for large foreign corporations.”

The lawmaker said that small businesses will continue to be VATexempt.

“If your sales are below P3 million, you are exempt from paying or filing VAT. If your net income as a sole proprietor is below P250,000, you are exempt from paying and filing income taxes. So, the small Facebook online seller will not be taxed. I guarantee you,” Salceda said.

Continued on A2

UTSTANDING debt of the national government for the first half of the year surpassed the P9-trillion mark as it surged by 15.1 percent from a year ago as the country borrowed more to fund Covid-19-related expenses.

Latest Bureau of the Treasury data showed the government’s total debt stock as of end-June rose to P9.054 trillion from P7.869 trillion in the same period last year.

It was 1.8 percent higher than the end-May level at P8.89 trillion, primarily due to the net issuance and availment of domestic and external financing.

However, the country’s debt portfolio swelled by 17.1 percent from P7.731 trillion as of end-December last year.

Domestic debt represented the bulk or 68 percent of the total outstanding debt stock, and external debt, 32 percent.

Domestic debt for the six-month period ballooned by 16.9 percent to P6.19 trillion from P5.295 trillion a year ago; and was up by 2.6 percent from P6.034 trillion as of end-May this year.

This also soared by 20.7 percent from P5.128 trillion as of end-2019.

On the other hand, external debt for the first half of the year jumped by 11.3 percent from P2.574 trillion in the comparable period last year and inched up by 0.3 percent from P2.857 trillion as of end-May this year.

From the end-2019 level of P2.604 trillion, this was a doubledigit growth of 10 percent.

Program, project loans

AS of end-June, program loans amounted to P216.30 billion, while project loan availment reached P11.09 billion.

Of the P216.30 billion in program loans, P53.51 billion were Continued on A2

Abaca-based masks cut plastic waste

F

IBER from a relative of the banana tree could replace plastic in millions of face masks and hospital gowns the world is making to fight the coronavirus.

Abaca—a fiber from the Philippines used in teabags and banknotes—is as durable as polyester but will decompose within two months, said Philippine fiber agency head Kennedy Costales.

“With this pandemic, if we all buy masks made of synthetic fiber, they will pile up in dumpsites because they take so long to decompose,” he said.

Global efforts to ban singleuse plastics have retreated as nations prioritized hygiene over the environment for packaging and medical supplies, creating a bright spot for chemical companies such as LyondellBasell Industries NV and Trinseo SA. Sales of disposable face masks are set to rise more than 200-fold worldwide this year to $166 billion, according to a United Nations trade article, citing consultancy Grand View Research.

Companies have been reluctant to replace plastic with biodegradable alternatives because of concern about cost and whether the new materials are sufficiently strong and effective for medical use.

A preliminary study by the Philippine Department of Science and Technology showed abaca paper to be more water resistant than a commercial N-95 mask, and to have pore sizes within the US Centers for Disease Control and Prevention’s recommended range to filter hazardous particles.

Costales said abaca demand could grow “exponentially” this year, with 10 percent of production going to medical uses, compared with less than 1 percent in 2019.

“Abaca fiber is rapidly gaining popularity as governments and manufacturers all around the world scamper to produce more reusable and safe medical garments for healthcare professionals,” said Pratik Gurnani, senior consultant at Future Market Insights.

PESO EXCHANGE RATES n US 49.2010

In demand

THE Philippines is the world’s largest producer, supplying 85 percent of the fiber in 2017, according to the latest data from the United Nations Food and Agriculture Organization. Global production is projected to be worth $100 million this year, Gurnani said.

The fiber, stripped from the trunks of the abaca tree, was used for saltwater-resistant ship ropes and Manila envelopes in the 19th century. Up to 30 percent of Japan’s banknotes are made of it and abaca yarn has been used in Mercedes-Benz cars.

Even though the plant fiber is more expensive to produce than plastic alternatives, manufacturers of protective health gear from China, India and Vietnam have placed new orders for the fiber over the past months, prompting Philippine fiber factories to double their output, said abaca exporter Firat Kabasakalli.

“People see this pandemic lasting for some time, so even small Continued on A2

See “Pasa,” A2

ABACA fiber grading DRAGON VISION TRADING

n JAPAN 0.4684 n UK 63.6464 n HK 6.3483 n CHINA 7.0267 n SINGAPORE 35.6762 n AUSTRALIA 35.2132 n EU 57.6783 n SAUDI ARABIA 13.1213

Source: BSP (July 29, 2020)

News BusinessMirror

A2 Thursday, July 30, 2020

www.businessmirror.com.ph

LandBank launches ₧10-B loan program to boost LGU recovery

T

By Tyrone Jasper C. Piad

HE Land Bank of the Philippines launched on Wednesday a P10-billion loan program to boost recovery efforts of the local government units (LGUs) amid the coronavirus pandemic.

Tagged as RISE UP LGUs Lending Program—which stands for Restoration and Invigoration Package for a Self-Sufficient Economy Towards Upgrowth for LGUs—the funding is available for provincial, city and municipal LGUs. LandBank President Cecilia C. Borromeo said that the current health crisis has highlighted the importance of LGUs in mitigating the impact of the pandemic.

“We hope that the LandBank RISE UP LGUs Program will help them better serve their constituents and communities, while developing a stronger local economy

that can withstand future crises,” she said.

Loans will be available to eligible LGUs provided that the total loan exposure is less than their net borrowing capacity according to the computation by the Bureau of Local Government Finance. The amount of borrowings to be granted depends on the LGU’s project requirement.

The loan will carry an interest rate of 4.5 percent per year, but subject to annual repricing after the first year based on LandBank’s prevailing interest rate.

Proceeds of the loans can be used to fund acquisition of agricul-

Continued from A1

BUSES line the streets outside the Rizal Memorial Sports Complex in Malate, Manila, where hundreds of individuals stranded due to travel restrictions imposed during the quarantine period have been temporarily staying as they wait for travel clearances. The buses will ferry them to Pier 15 to waiting ships chartered by the government under its Hatid Probinsya program, bound for the Visayas and Mindanao. ROY DOMINGO

tural produce and equipment and construction of facilities linking products to market. These include market infrastructure development or improvement, mobile market, collection and buying stations, among others.

LandBank said that LGUs could avail themselves of the loans to finance programs and projects for basic and support services, so-

cial welfare and health care, and other infrastructure activities seen spurring the economic activities.

The lending program is offering a loan tenor of three years for permanent working capital, while tenor for term loan is up to 10 years. LandBank may also grant a grace period of up to one year on principal payment for both credit facilities.

The program was rolled out

during a regular meeting of the LGU umbrella organization, Union of Local Authorities of the Philippines, on Wednesday.

Last week, LandBank and STI Education Services Group Inc. inked a P250-million term loan rediscounting line deal to fund the “study now, pay later” program launched to aid students during the pandemic.

House panel OKs VAT BIR extends to end-Aug deadline on digital business for online selling biz registration Continued from A1

“If brick-and-mortar establishments, which are the hardest-hit by the pandemic, have to pay VAT, the giants of e-commerce shouldn’t be exempt,” he added.

Salceda also said “the same exemptions apply for barter trading.”

“You will remember that I struck down the discussion on taxing barter trades online. I assured you that it will not be done under my watch,” Salceda added.

“So, this committee report has nothing on online barter trades, and I will never touch it as chair of the tax committee,” Salceda said.

Under the approved committee report, foreign corporations that sell digital services, such as Netflix, Spotify and others, will have to pay for and impose VAT on their services.

“We imposed no new taxes. We’re simply clarifying that they should be VATed. In general, if you sell, you pay VAT, unless you fall under the exemptions for small businesses,” he said.

Finance Assistant Secretary Daki Napao said the expected revenue from the proposal could reach P10 billion.

Of this P10-billion revenue, Napao said P9 billion will come from foreign companies operating in the Philippines, while P1 billion will come from local companies.

Moreover, Salceda said his committee has already studied the impact of the committee report on incomes.

According to him, “77 percent of the revenues will come from upper middle-income families and above.

The effective income-tax rate on the bottom 20 percent of the population is 0.01 percent, and that progresses, until 0.09 percent for the highest income classes. This is the mildest imposition you can make when the country is in severe need of new revenues.

And it covers a mostly discretionary spending.”

Salceda added that only “0.04 percent of all revenues from this proposal will come from the bottom 20 percent of the population.”

“In other words, this will not be felt by the most vulnerable households, and will be felt only very mildly by the richest households, but it will certainly generate new revenues for our Covid response,” the tax panel chairman said.

The bill seeks to amend Section 105 of the National Internal Revenue Code (NIRC) to include those persons doing trade or business involving digital or electronic transactions to be liable for VAT.

The bill amends Section 114 of the NIRC to subject nonresidents providing digital services to the government to 5-percent VAT; however, if the nonresident is not registered with the BIR, a 12-percent VAT shall be imposed instead; and Section 236 of the NIRC providing for registration guidelines for nonresident digital service providers.

The measure added a new provision, Section 105-A, providing for nonresident digital service providers as withholding agents, defining digital services subject to VAT, and defining a buyer for the purpose determining VAT liability under the bill.

It also amends Section 109 of the NIRC to exempt from VAT the sale and importation of books, newspapers, magazines, or bulletins which are sold electronically.

Covid-19 response swells govt H1 debt to more than ₧9T

By Bernadette D. Nicolas

T

HE Bureau of Internal Revenue (BIR) extended the deadline for business registration of those engaged in online selling business until end-August.

In its Revenue Memorandum Circular (RMC) 75-2020, the BIR said online merchants have signified their intent to cooperate with the requirements but they requested “for more time to comply due to the current problem in going to the district offices, such as the means of transportation, fear of dealing face to face with others, limited open bank branches for their funding, and others.”

“In view thereof, the July 31 deadline stated in the same RMC for registration of the business activity and/or updates with no penalty imposition is hereby extended to August 31, 2020,” read the RMC released on Wednesday and signed by BIR Commissioner Caesar R. Dulay.

In the same RMC, Dulay said those who shall voluntarily declare their past transactions subject to pertinent taxes and pay the taxes due thereon when declared and paid on or before the said date shall not be subject to the corresponding penalty for late filing and payment.

However, the BIR issued a stern warning to those who will later be found doing business without complying with the registration/update requirements, and those who failed to declare past due taxes/unpaid taxes, saying they will be imposed with the applicable penalties under the law, and existing revenue rules and regulations.

In June, the BIR issued RMC 60-2020 to notify all persons doing business and earning income in any manner or form, specifically those who are into digital transactions through the use of electronic platforms and media, and other digital means, to ensure that their businesses are registered and that they are tax-compliant. In the

same RMC, the BIR said these shall include not only partner sellers/ merchants but also other stakeholders involved, such as the payment gateways, delivery channels, internet service providers, and other facilitators.

This came at a time that the business of selling of goods and services through online networks was observed to growing substantially with the government’s imposition of community quarantine restrictions amid the global Covid-19 pandemic.

After the tax agency drew flak from lawmakers who said targeting pandemic-displaced workers trying to eke out a living was illtimed, the BIR clarified that those required to register their business are people who are “habitually” engaged in online selling and not the temporary online sellers.

The BIR also earlier said online sellers earning an annual net income of less than 250,000 will not also be subject to tax.

concessional loans from multilateral creditors in funding meant to fight Covid-19. Meanwhile, offshore bond issuances reached P186.06 billion.

Outstanding guaranteed debt for the period also dropped by 5.5 percent to P460.008 billion from 486.597 billion in the same period last year and shrank by 1.3 percent from P465.877 billion as of endMay this year.

Since the beginning of 2020, the guaranteed obligations of the national government sank by 5.9 percent from P488.746 billion.

The lower level of guarantees was due to the net redemption of local guarantees amounting to P3.05 billion and currency adjustments which reduced the value of external guarantees by P3.79 billion.

Prior to the onset of the Covid-19 pandemic, the government had set a P1.4-trillion borrowing program for this year.

The government borrows to meet its spending requirements and to finance its budget deficit.

The Cabinet-level Development Budget Coordination Committee (DBCC) expects a wider budget deficit this year at 8.4 percent of GDP or equivalent to P1.613 trillion, more than double the country’s budget gap last year at P660.2 billion or 3.4 percent of GDP. The country’s debt-to-GDP ratio is also seen by the DBCC to increase to 49.8 percent this year from 39.6 percent last year.

For 2021 and 2022, the DBCC also sees an even higher debt-toGDP ratio of 51.5 percent and 52.3 percent, respectively.

Despite the projected increase in the country’s debt-to-GDP ratio, economic managers had said this is still far lower than the most recent peak of 71.6 percent in 2004.

A budget deficit occurs when expenditures exceed revenues, while the debt-to-GDP ratio is used to gauge a country’s ability to pay its debt.

ENROLLEES NOW AT 22M, 80% OF GOAL–DEPED T

BRIONES: “We believe that we can deliver.”

HE Department of Education (DepEd) has reached over 22 million school learners or 80 percent of the target enrollees of last year’s 27.7-million student population.

As of 8 a.m. of July 29, a total of 22,233,807 school children have registered for the upcoming August 24 school opening.

Of the number, 20,841,279 have enrolled in public schools, while 1,359, 984 registered in private schools.

Education Undersecretary Jesus Mateo said late enrollees in the public schools would still be accepted until last week of September based on De-

partment Order (DO) 13 s. 2018.

Mateo quoted the order: “Schools may accept late enrollees provided that the learner will be able to meet 80 percent of the prescribed number of school days for each school year and the quarterly requirement to pass the grade level as governed by the latest existing applicable DepEd issuances.”

Earlier, Education Secretary Leonor Magtolis-Briones assured the public they are doing everything to be ready by August 24 with the help of concerned government agencies, the private sector and nongovernment organizations.

“Every day there’s a challenge, every day an answer has to be found, every day there’s a new development, every day there is a new question and the department has responded heroically and we are most grateful to each and every one of them,” Briones said, as she thanked her officials.

She also thanked those who have given their trust to the department.

“It’s a question of trust: do you think, do you believe that we can deliver? We believe that we can deliver, thank you for believing along with us.

Thank you,” the DepEd chief said.

Claudeth Mocon-Ciriaco

Abaca-based masks cut plastic waste Continued from A1

companies are trying to make protective equipment, which require our fiber,” said Kabasakalli, general manager of Dragon Vision Trading. “We are getting a lot of inquiries from new clients abroad.”

Missed opportunity

ONE company in southern Philippines which makes greeting cards and paper from the fiber for export to the US and Europe has shifted

to making masks.

“The awareness of consumers now is higher when it comes to taking care of the environment,” said Neil Francis Rafisura, general manager of Salay Handmade Products Industries Inc. “There are people who will pay a premium for environmentally friendly products.”

Abaca production can’t keep up with demand, according to Costales. While he estimates growers will increase output to

74,000 metric tons this year, that’s not enough to meet even last year’s supply deficit of about 125,000 tons, he said. Part of the reason is that farmers in the Philippines lack government subsidies to raise output.

“Abaca is like precious gold for the Philippines, but it’s been often overlooked because the government prioritizes crops that feed people,” Costales said. “This is a missed opportunity for us.” Bloomberg

The Nation BusinessMirror

www.businessmirror.com.ph

SC order halts transfer of PDLs to BuCor jails

By Joel R. San Juan @jrsanjuan1573

T

HE Supreme Court’s Office of the Court Administrator (SC-OCA) on Wednesday barred the transfer of recently convicted persons deprived of liberty (PDLs) from local jails to the Bureau of Corrections (BuCor) as part of the ongoing measures to stop the spread of Covid-19 to the country’s penal colonies.

In Circular 125-2020 dated July 29, 2020, addressed to all first and second level courts nationwide, Court Administrator Jose Midas Marquez said the order was issued following the request made by BuCor Director General Gerald Bantag.

Bantag, in a letter dated July 22, 2020, asked the OCA to temporarily suspend the issuance of commitment order for the transfer of convicted PDLs from jail facilities under the Bureau of Jail Management and Penology (BJMP) to the BuCor “to prevent further contamination of Covid-19 among PDLs and to minimize their movement from BJMP to BuCor.” A total of 21 PDLs, including nine high-profile inmates, had died due to coronavirus infection since the

country was placed under a state of public health emergency last March because of the Covid-19 pandemic.

Among these high-profile inmates was drug convict Jaybee Sebastian, one of the accused and witnesses in the illegal-drug trade case filed against detained opposition Sen. Leila M. de Lima before the Regional Trial Court of Muntinlupa City.

Marquez said the directive is consistent with OCA Circular 121-2020, which temporarily suspended the issuance of commitment orders to the BJMP jail units until August 31, 2020.

In the said circular, the OCA directed all trial court judges to order the detention of newly arrested criminal offenders in the facilities of the Philippine National Police (PNP).

Marquez made the directive in a circular issued on Wednesday in response to the request of Interior Secretary Eduardo M. Año.

Año asked the SC to temporarily suspend the issuance of commitment orders to the facilities under the BJMP to prevent the further spread of the virus among PDLs. The new circular will take effect from July 29 to August 31, according to Marquez.

Editor: Vittorio V. Vitug • Thursday, July 30, 2020 A3

DA confirms resurgence of bird flu in Pampanga town egg farm

By Jasper Emmanuel Y. Arcalas @jearcalas

T

HE Philippines has confirmed the resurgence of the fatal H5N6 highly pathogenic avian influenza (HPAI) at a layer farm in San Luis, Pampanga—the “hot zone” of the Central Luzon bird flu outbreak—where over 200,000 birds were culled in 2017.

This time, the dreaded bird f lu struck an egg farm where government veterinarians had humanely culled 38,701 heads, according to the Department of Agriculture (DA).

The DA said initial field investigation showed the presence of migratory birds in San Luis, Pampanga.

Migratory birds have been associated with bird flu outbreaks in many countries, including the Philippines, DA added.

Bureau of Animal Industry (BAI) Officer-in-Charge Director Ronnie D. Domingo said early reporting, detection and strong multi-agency collaboration paved the way for the rapid and effec-

tive response in the management of the latest avian influenza (AI) outbreak.

The confirmation of bird flu in San Luis on Wednesday came a week after the DA pronounced the outbreak at a quail farm in Jaen, Nueva Ecija has been resolved.

Nonetheless, DA assured the public that broiler farms, which produce chicken meat, in the country are still free from bird flu.

Arlene Vytiaco, DA technical spokesman for AI, told the BusinessMirror that the owner of the egg, or layer farm, reported to the regional field office and the provincial veterinary office (PVO) on July 7 of an unusual mortality among his flock.

Vytiaco said the farm owner observed deaths ranging from 35 to 70 heads last July 6 compared to the usual, or normal mortality rate of 2 to 3 heads.

The farm owner also observed clinical signs for AI in the dead layers such as bluish discoloration of comb and nasal discharge that added to the reason for him report-

ing it immediately to authorities, Vytiaco added.

Vytiaco said the PVO immediately dispatched a team to collect blood samples on July 8 and the test results yielded positive for AI type A on the same day.

On July 9, the blood samples were sent to the Animal Disease Diagnostic and Reference Laboratory (ADDRL) at the Bureau of Animal Industry for confirmation and subtyping of the disease.

The results were released on the same date and revealed that the bird flu that struck the layer farm was H5N6, the same strain that hit Central Luzon in 2017.

On July 10, the BAI, PVO and local government unit of San Luis formed 30 surveillance teams to collect samples within the 1-kilometer radius of the infected farm to determine if the disease has spread to nearby farms, which were about 30.

Fortunately, Vytiaco, who was part of the surveillance team herself, said all samples from about 30 farms were negative for AI. Vytiaco, who was also the head

of the government’s task force in handling the AI outbreaks in 2017, said the affected egg farm was also struck by bird flu last 2017.

“We are thankful that the farmers are now reporting early to us compared in 2017. We really laud the farmer for reporting the incident to us as soon as possible,” she said.

However, Vytiaco disclosed that poultry farmers are still having a hard time improving their biosecurity, despite the devastation they suffered from bird flu three years ago.

Strict biosecurity measures is one of the key measures to prevent getting infected by AI especially in San Luis, Pampanga where migratory birds are known to nest, Vytiaco added.

Like in 2017, Vytiaco said ducks that have been in contact with the migratory birds may have been the carrier of the AI again.

Vytiaco said the egg farm owner would be compensated at an indemnification rate of P80 per head.

Duterte creates body to study inclusion of nuclear energy to PHL’s power mix

By Lenie Lectura

@llectura

M

ALACAÑANG signed last week Executive Order (EO) 116, which paves the way for the creation of the Nuclear Energy Program Inter-Agency Committee (NEP-IAC).

The Department of Energy (DOE) will lead the committee while the Department of Science and Technology is the committee vice chair. The inter-agency body is mandated to primarily conduct a study for the adoption of a national position for a Nuclear Energy Program (NEP).

Energy Secretary Alfonso Cusi said EO 116 was signed by President Duterte last July 24, 2020, stressing that the signing of the EO is a “major step towards the

realization of a Philippine nuclear energy program.”

“The Department of Energy welcomes EO 116 as a major step towards the realization of a Philippine nuclear energy program—one which would benefit our people by enhancing our energy supply levels and help shield our consumers from traditional power price volatilities,” said Cusi.

The energy chief said the government will continue to work closely with the International Atomic Energy Agency (IAEA) and other experts to realize the inclusion of nuclear power in the country’s existing energy mix in the future.

“I believe that once we have successfully addressed infrastructure gaps as identified by the IAEA, and

Army receives new sea mobility assets to fight terrorism, disaster preparedness

By Rene Acosta

T

@reneacostaBM

HE Army has unveiled its fresh inventory of sea mobility assets acquired under the military’s ongoing modernization program for the use of its water-borne specialized teams like the Riverine Units of the Special Forces.

The boats were turned over to Special Forces Regiment (Airborne) commander Brig. Gen. Lincoln Francisco T. Tagle, with Army officials saying the new assets would boost the operations of the Special Forces, including counterterrorism operations in priority areas in Mindanao.

Army spokesman Col. Ramon Zagala said the new boats are intended to augment the existing water navigation mobility assets of the Army used in patrol and troop insertion operations.

A single boat was put on display for the blessing ceremony at Fort Bonifacio on Tuesday.

The boats can load at least eight individuals in full battle gear and has a minimum speed of 25 knots.

“Our pursuit for modernization will ensure that the Army is capable of facing various threats in the security environment and when we perform our non-traditional military roles during disasters. We aim that through modernizing our command capabilities, the Philippine Army can better serve the people and protect the nation from whatever challenges there may be,” said Army chief Lt. Gen. Gilbert Gapay.

The acquisition of the sea assets was part of the Army’s effort to improve its riverine operations under the Horizon 2 phase of the Armed Forces of the Philippines Modernization Program that the Army will procure three types of boats.

These sea mobility assets are categorized as light scout, assault and support boats.

Those that were turned over on Tuesday were light scout boats that are part of a total of 52 units allotted with a total budget of P49.1 million under the modernization program.

we have fulfilled all other necessary national requirements, our people and future generations will reap the economic benefits a nuclear energy program brings,” Cusi stated.

Cusi said the President cited the imperative need to revisit the country’s policy on nuclear energy and to determine its feasibility as a longterm option for power generation.

Aside from the DOE and the DOST, the inter-agency body will have the following as members: Department of Environment and Natural Resources, Department of the Interior and Local Government, Department of Finance, Department of Foreign Affairs, National Economic and Development Authority, National Power Corp., National Transmission Corp., Phil-

ippine Nuclear Research Institute and Philippine Institute of Volcanology and Seismology.

EO 116 specifically tasked the NEP-IAC to conduct a prefeasibility study to evaluate and assess the need for and viability of introducing nuclear power into the country’s energy mix; evaluate and formulate a national strategy to include a road map and timeline in the preparation of a NEP; review the existing legal framework, study the viability of nuclear energy, and recommend the necessary steps in the utilization of nuclear energy, as well as existing facilities such as but not limited to the Bataan Nuclear Power Plant; create sub-committees to facilitate decision-making on various issues that may arise in the course of study;

Group pushes digital transformation of health-care sector amid pandemic

By Rizal Raoul S. Reyes

A

@brownindio

CONSUMER group on Wednesday called for the digital transformation of the healthcare sector to address major gaps and challenges in delivering medical services amid the coronavirus pandemic.

CitizenWatch Philippines, in a news statement, said the push toward digitalization of the Philippine health sector will make health-care services more efficient and more accessible to patients.

“To effectively address these lifethreatening problems, the health sector must immediately shift to digital platforms as a safe, convenient, and reliable tool for delivering health-care services to patients,” said CitizenWatch Philippines convener Orlando Oxales.

Oxales explained that with telemedicine and other digital solutions, “Patients are no longer forced to risk contact with others and [catch] potential infection when they physically visit a medical institution of a government agency.”

“Instead, services such as clinical consultation become accessible from home,” he said.

Oxales said that “integrating innovative technologies is critical in implementing health laws such as the Universal Health Care and National Integrated Cancer Control Act.” Shifting to cloud-based technologies, he added, will boost and enhance the public health-care system benefiting the whole health-care ecosystem with

solutions for big data analytics, ondemand health care, virtual reality, artificial-intelligence tools for treatment, blockchain technology for electronic health records, and other applications that should be accessible through mobile networks.

In particular, CitizenWatch Philippines called on the government to lift bureaucratic barriers that have hampered the development of the digital infrastructure for many decades.

“Public investment in digital infrastructure complemented with the right partnerships with the private sector and health-care stakeholders is the whole-of-society approach we need to overcome our health crisis,” said Oxales.

The group also cited the need to fully enforce the Ease of Doing Business law and permanently demolish red tape at the national and local levels.

The group also asked the government, particularly the Department of Information and Communications Technology (DICT), to enable the telecom industry to help build future-proof digital infrastructure network to meet the fast-growing demand of a digitized society linking the ecosystems of government, private industries, and consumers to cloud-based services that are secure, stable and fast.

“All these can only be possible if we have a robust nationwide and future proof digital infrastructure that will deliver fast broadband services and enhance e-governance,” said Oxales.

promulgate guidelines and rules for the effective implementation of EO 116; and perform other functions as the President may direct.

EO 116 requires the NEP-IAC to submit an initial report to the Office of the President within six

months, or by January 2021.

Funding for the body’s operational expenses will be charged against the DOE budget, and other funding sources that may be identified by the Department of Budget and Management.

TheBroa

Business

A4 Thursday, July 30, 2020 | www.businessmirror.com.ph

Covid-19 threatens to sink global shipping busin

Seafarers, ships sound

By Jeremaiah m. Opiniano

OFW Journalism Consortium

A

Special to the BusinessMirror

DELAIDE, AUSTRALIA— Never had Jose Braganza enjoyed such a regal form of solitude within the 39-square meter “Princess Suite.”

Seven pieces of down pillows sit on a king-size bed, which is surrounded by a TV set, a sofa, a refrigerator and a computer table.

Food is served daily by the concierge.

Behind the sliding doors is an 8-square meter balcony with wooden flooring, two chairs and a small table; all caressed by a sea breeze.

The suite is like a “first-class” hotel room, Braganza (not his real name) recalls; “and that room is not even the most expensive.”

It was the first time in his nine years as housekeeping staff for a cruise line that he tasted this kind of luxury. One cruising on a 40-day journey from Tokyo to Melbourne would have had to pay, for use of the suite, $5,599 (P274,773.72) per person. If it’s a 21-day voyage from New Zealand to Tasmania, Australia and back, it would set one back $7,089 (P347,896.22).

After days of temporary opulence, Braganza saw another reason for exhilaration: the mouth of Manila Bay. T he Fi l ipi no sea fa rer wa s coming home.

ships experienced in Manila Bay. But many international seaports remain shut. Seafarers got stranded while their ships continually drift at sea; with some ships reportedly even abandoned by owners.

Some seafarers whose contracts had expired were paid but others were not after global health authorities declared a pandemic.

Bringing these crew home wasn’t something that could be done immediately: as seaports remain barred for crew changes, many airports stay closed for outgoing and incoming international flights.

The lockdowns against the Covid-19 pandemic have turned into a formidable challenge to an industry that has survived the 2016 financial crisis, pirate attacks and outbreaks of a norovirus.

Likewise, Professor Rolando G. Talampas of the University of the Philippines Asian Center said that the economic prospects for the shipping industry are all at sea “due to uncertainties in seaborne world trade.”

Stuck at sea

An outbreak

But his Bermuda-registered ship became dead in the water—as did 30 other cruise ships; and the same thing happened to Filipino crew on those ships and Braganza’s. These vessels are all on beam ends.

The “Princess Suite” was where Braganza’s world got docked.

Like the other 500 Filipino crew who sailed with him from Brisbane last April 7, all Braganza did was watch TV, make audio and video calls on his mobile phone, play video games and . . . wait.

The release of a swab test result prolonged his melancholy inside his opulent “prison.”

That was until Braganza finally boarded a tender boat of the Philippine Coast Guard (PCG) last May 28. After 54 days, he had finally set foot on dry land at Manila’s international seaport.

B r a g a n z a’s no w ho me , i n Mandaluyong City.

Free from his previous chamber, Braganza now enjoys driving but is hyper-vigilant behind a face mask. On dry land, the seaman is toiling for another day, earning from delivering food outside doors of office suites.

Engines stopped

ACROSS seas, seafarers, their ships and the global cruise ship industry are manning panic stations like never before. Covid-19 continues to hammer the wellbeing and economic future of over 400,000 Filipino seafarers in one of the most dramatic episodes on Filipinos’ international labor migration.

With fears of viral transmission, crew change has become slow on open seaports, as what Braganza, his ship and 30 other

BRAGANZA’S vessel didn’t have a confirmed Covid-19 case, be it a crew member or a passenger.

The same can’t be said for 43 cruise lines.

Cruise Mapper, an artificial intelligence website that tracks cruise ships, recorded some 3,069 crew and passengers positive with Covid-19 from January to May. World Dream, owned by GHKDream Cruises, was the first c r u i s e s h ip w it h con f i r me d cases. From January 19 to 24, while it was leaving Guangzhou, China for Vietnam, the first three passengers of the ship’s 12 confirmed Covid-19 cases (all passengers) were logged.

Last January 28, World Dream became the first Covid-19 affected ship to dock at Manila’s international seaport. But the Bureau of Quarantine declared the ship free from what was then called nCOV. In early February the 16-yearold Diamond Princess was tagged as having the biggest nCOV epidemic outside the epicenter of Wuhan, China.

About 538 crew members of the Diamond Princess are Filipinos, with 80 of them becoming part of the final count of 712 positive passengers and crew. These Filipinos were treated in Japan while 445 Filipino crew members and seven passengers got repatriated by the Philippine Embassy in Tokyo on February 26.

“Cruise ships present a unique environment for transmission of human-to-human...infections,” epidemiologists Joacim Rocklöv, Henrik Sjödin and Annlies WilderSmith wrote in their paper on the Diamond Princess for the “Journal of Travel Medicine.”

Fluid movement

THE Diamond Princess has 14 accessible decks or floors, nine restaurants and bars, six lounges, four swimming pools, eight Jacuzzis and 14 elevators. Scattered across those confined spaces are some 3,700 people.

Rocklöv and fellow authors estimated an epidemiologic metric, called the reproduction number (R0, or “R naught”), to determine the extent of a contagion. The R0 inside the Diamond Princess during the first few weeks was a high 14.8.

That figure was four times higher than the R0 in Wuhan at 3.4 last February 25, according to estimates by some Chinese epidemiologists.

Isolation and quarantine measures were implemented on the Diamond Princess from January 21 to February 19. Had there been no interventions, including the abortion of a supposed early evacuation, about 2,920 of the 3,700 passengers and crew would have been infected instead of the eventual 712, Rocklöv’s paper said.

Population density and the mixing of people inside the Diamond Princess “clearly amplified an already highly transmissible disease,” Rocklöv, Sjödin and Wilder-Smith concluded.

Six Japanese researchers, in another paper on the Diamond Princess outbreak, think nCOV “was likely transmitted first from passengers to crew members, and subsequently spread among the crew, especially food service workers.”

Transmission may have likely occurred before the implementation of quarantine measures.

‘Amply demonstrate’

WHAT’S common between Diamond Princess and another Covid19-stricken ship, the Grand Princess, and with other cruise lines is the number of Filipino crew doing mostly non-marine jobs. The Diamond Princess had 531 Filipino crew (51 percent of the total 1,045 crew). Sister ship Grand Princess had 529 Filipino crew or 48 percent of the 1,111 total.

The Grand Princess case “was an example of (the) perpetuation of transmission from crew members across multiple consecutive voyages, and the potential introduction of the virus to passengers and crew on other ship,” a 51-author team wrote in a March 27 paper, for the “Morbidity and Mortality Weekly Report” by the US Center for Disease Control and Prevention or CDC. These cases of Covid-19 infection prompted the Cruise Lines International Association (CLIA) to announce last March 13 a 30day voluntary suspension of cruise operations in the US. Four days later, the CDC released a “level 3 warning” to defer all cruise travel worldwide.

By May, Covid-19 cases broke out in 43 of the world’s 272 cruise ships. And Filipinos, the world’s largest supplier or merchant marine fleet (especially among ratings and non-marine workers), dominate crew counts.

These cases “amply demonstrate” how a disease outbreak onboard “could threaten so many people at once, and could be mishandled by people untrained to address such emergencies,” Talampas said.

The Spectrum of the Seas a passenger ship with a gross tonnage of 170,000 is a Quantum-ultra-class cruise ship owned by Royal Caribbean Cruises. It will join its sister ship Voyager of Seas now anchored off Manila Bay NONIE REYES

Remaining safe

DOCKED on March 14 in Spain was a cruise ship whose first name means “star of the sea.” The captain announced this on the PA system: “A Filipino, from the bar department, was disembarked from our ship.”

“So please stay inside your cabins,” came the announcement that Henry Torres (not his real name) heard loud and clear.

“I wasn’t surprised there’ll be someone in our ship with the coronavirus,” Torres told the OFW Journalism Consortium while on quarantine at Astrotel in Carriedo, Manila.

“Either the Pinoy crew member got it from a passenger while conversing in that bar, or he or she was coming in-and-out of the ship when it was anchored on a port,” he added.

That unidentified Filipino seafarer with Covid-19 may have been assigned in one of 10 bars of the said cruise ship: The Lounge (on Deck 6), 53 (Deck 5), The Shack (Deck 12), Bar @ The Mediterranean (Deck 11), Indigo Bar and Indigo Club (both on Deck 12), Aperitif (Deck 6), Squid and Anchor (Deck 7), The Broadway Sky Lounge (Decks 6 and 7, with a stage for theatrical performances), and the Pool Bar (Deck 11).

Torres’s quarantine inside a passenger’s cabin began March 14 when his ship anchored at Las

Palmas de Gran Canaria, Spain.

The quarantine ended April 23 when the Malta-flagged cruise ship reached Southampton, United Kingdom, and disembarked its multinational crew there.

The Filipino seafarers took a 2-hour bus ride to London Gatwick Airport, and a Tui Airline flew home the 262 Filipino crew (from two cruise ships) straight to Manila. They arrived last April 24.

Torres, a baker working on the night shift, then got quarantined with 91 other seafarers at Astrotel upon instructions from the Overseas Workers Welfare Administration (OWWA). Swab test results lengthened the 30-year-old’s stay there for over a month.

Eluding danger

“MANY of my fellow seafarers here at Astrotel were tested positive,” Torres recalled. That Friday, May 22, at least 45 seafarers —excluding Torres and 46 others— got their quarantine certificates and checked out from Astrotel.

Torres dodged the unseen enemy while on his cruise ship. He volunteered to join the bakery department to make pastries for the 700-person crew that time. By mid-April, his wife Rebecca bore their first child, a girl.

He came home and eventually tested negative. But the delayed release of both his negative test result and quarantine certificate

The US-operated Diamond Princess is anchored as emergency vehicles stand by at Yokohama Port, near Tokyo, on February 12. Japan’s Health Ministry said Wednesday that 39 new cases of a virus have been confirmed on the cruise ship quarantined at the Japanese port. Kyodo News via AP

almost brought Torres to resignation while waiting for “freedom.”

Those of them who were still at Astrotel, Torres said, “have accepted that we will reach old age here.”

“We are in pain given this situation; we have been overthinking.”

April to May was the period when the cruise ships arrived in droves in Manila Bay, bringing home their Filipino crew. PCG personnel would go boat by boat with

aderLook

sMirror

Editor: Dennis D. Estopace | Thursday, July 30, 2020

A5

ness, workers

d sirens, seek solutions desert. But the pandemic sowed “intense pressure and mental and physical fatigue” unto many seafarers, according to Edwin dela Cruz of the nonprofit International Seafarers Action Center (ISAC) Philippines Foundation.

The Christian-run Mission to Seafarers (MtS) releases a quarterly survey called the Seafarers Happiness Index (SHI). In the SHI’s 2020 first quarter report anchored on Covid-19, seafarers told MtS that not enough efforts was done to ensure crew and passengers’ safety on board.

Seafarer-respondents to the online SHI survey felt “physically exhausted, mentally disturbed, homesick and anxious.”

Commonplace trends prior to the pandemic prevailed, such as paid or unpaid work beyond crews’ contract periods, especially since crew changes get constricted by port closures.

While majority of seafarers’ vessels “were safe from the virus,” the problem was “the fear of people coming aboard from ashore.” “(In) every port the officers and crew are exposed in infection, be it from health department/surveyor/shore crew/pilot/ agent or anyone ashore,” the report said.

The overall average happiness score for that period was 6.30 out of 10, the lowest since the 6.25 average during the fourth quarter of 2017 [see chart]. Dimensions such as “welfare facilities at shore” (score: 5.55), work load (5.69) and shore leave (5.80) posted the lowest average scores that period.

Support, positivity

SINCE Port States understandably focused on the health needs of their nationals, seafarers do not seem to be prioritized —and these merchant marine fleet feel they were “cut adrift from the medical and emotional support they need,” MtS noted.

Seafarers cope by following precautions and sanitizing themselves, but they are being constantly pressured that they may get infected. “This ironically makes them (seafarers) feel even more vulnerable and susceptible to the virus,” MtS added.

Seafarers’ advocacy groups had been helping seafarers confront the usual mental stresses of seafaring. Since 2017, the UK-headquartered charity International Seafarers Welfare and Assistance Network (Iswan) had been receiving calls on SeafarerHelp, its free 24/7 multilingual helpline.

Two multilingual booklets on seafarers’ positive mental health and on their psychological wellbeing are spreading the online universe to reach as many seafarers.

Nevertheless, mental stress has already been encountered by increasing numbers of seafarers, with Covid-19 heightening how seafarers’ mental conditions may have been left high and dry, Talampas said. their Covid-19 testing equipment in tow since boats weren’t allowed to dock at Manila’s international seaport.

That ship-hopping alone took time; so did the testing of other returning sea-based and land-based overseas Filipino workers (OFWs) and local Filipinos.

Torres is now home in Porac, Pampanga cuddling his newborn.

Thousands of other Filipino sea-

farers remain either on their ships at the Manila Bay, on the designated local hotels as quarantine centers; or still stranded aboard drifting cruise, tanker and cargo ships —like Torres’s father, aboard a cargo ship.

Report on happiness

SEAFARING is a mentally challenging job by default as one stays on a ship surrounded by a wet

‘Welcome packs’

AUSTR ALIAN grade schoolers Mark, Aaliyah, Ashton and Patrick were inserting bookmarks inside plastic containers that are of the same size. Those bookmarks sported a bright kaleidoscope of various colors, with scribbled words from American children’s book author Theodor Seuss: “To the world you may be one person, but to one person you may be the world.”

“Thank you,” each bookmark also writes. “We are thinking of you. Keep safe.”

These volunteer students from Our Lady of the Visitation School in Taperoo suburb here in Adelaide inserted those bookmarks into an “Australiana-themed welcome pack,” fitting the current Oceania winter.

There’s also a beanie (knitted beret), a pen, a Koala key ring, a block of chocolate, a pack of potato chips and a calendar in those welcome packs, which are distributed by the Catholic-run nonprofit Apostleship of the Sea (AOS).

AOS Adelaide’s Stella Maris Center delivered these packs to two ships that had been disallowed from making crew changes and docked on Port Adelaide’s Outer Harbor 8 Terminal.

AOS Adelaide Director Ian Keane said since he couldn’t go up the carrier, so he only gave the packs to one of the seafarers who were allowed to come down.

Economic costs

SOLUTION like those welcome packs have cropped up because the world seems to be shrinking for the shipping industry and its 1.6 million seafarers.

Numerous cruise lines have announced postponements to resuming operations. That’s assuming demand to board these cruise line gets revived since incomes in the developed world got wrecked by the pandemic.

The 2008 to 2009 global economic crisis slowed down global trade in subsequent years, with 90 percent of trade coming from shipping. Importation of goods, as well as prices, dropped. This led to the oversupply of these goods, a drop in freight rates, and diminished demand.

Now with the pandemic, shipping companies big and small got hit hard across supply chains. With production of goods slashed in China, the movement of goods got hit.

Container ships had left their vessels idle in record numbers during the first three months of 2020, say global shipping analysts.

Movements of goods on major trade lanes, linking Covid-stricken Europe and North America to China, got slashed.

The continued fluctuations of global oil prices since March are not helping either.

Logistic operations

M ARITIME law yer Dela Cruz believes the post-pandemic scenario will pose problems for 80 percent of the world’s ships that are called “flags of convenience” (FOC). These FOCs are registered in other countries with open registries for foreign vessels, not in the residence country of their owners.

“These FOCs will not be prioritized in the post-Covid rehabilitation of the world economy since these ships do not pay taxes in the country of beneficial ownership,” Dela Cruz said.

Talampas, meanwhile, thinks robotics and artificial intelligence will soon mark logistics operations as a means to cut costs. Even if sizeable investments are needed to buy these technologies, adoption to “industrial revolution 4.0” in global shipping, Talampas thinks, will lead to “investments (that are) much less on seafarers.”

The adjustment here will be the

need for maritime fleet as shore workers but not as fleet crew, adds Talampas.

Family time

ENGINE oiler Samuel Simbulan (not his real name) has been waiting since January for his bulk carrier MV Glovis 5 to yank him in for work. But the airport closures had shut Simbulan’s trip plans.

He then got called for another ship but there’s still no update to this day, Simbulan said.

At least, the La Paz, Tarlac resident says, “I have longer bonding time with my pregnant wife Marie and my children.”

Wives’ empathies and children’s smiles have unburdened Braganza, Torres and Simbulan.

Family becomes the emotional and economic safety net then of some 43,893 seafarers —part of the 102,519 sea- and land-based overseas Filipino workers (OFWs) repatriated since February up to July 25, according to the Department of Foreign Affairs.

But with the unintended return comes the next problem: money management.

Accounting income

FROM a $1,200 monthly sum, Torres allots his $458 basic pay to his family in Pampanga. The rest is stored on Torres’ OceanPay stored value card.

“I sneaked in some $200 or $300 monthly, for seven months as savings before I got repatriated,” Torres said.

Handling whatever Torres has saved from this last cruise juggles with the financial demands of a 4-month-old newborn with his wife who works as a saleslady for a department store.

Simbulan’s wife is due in two months. Since mid-March, the couple had been judiciously spending their budget on essentials. The couple can’t push the boat out like years ago and spend lavishly when their dollars come.

They are “talking with each other on how much to spend and for what expense matters,” Simbulan tells the OFW Journalism Consortium.

Still, Simbulan wishes that the pandemic’s wrath on seafarers’ livelihoods does not drag on longer: “More pitiful (“mas kawawa”) are those seafarers who haven’t saved as much.”

Remittances, ratings

IF seafarers were able to save, say in the five years (2015-2019) preceding today’s pandemic, mostly officers and very seldom ratings would have done so, Talampas said.

Filipino seafarers’ remittances the past decade have been a $75.79 billion juggernaut coming from just over 449,463 sea-based OFWs, and even if they’re on just eightto-ten month contracts.

But economists and market analysts have projected lower remittances from overseas Filipinos, including seafarers, this year.

Comparing the first four months of this pandemic year to a similar four-month period in 2019, seafarers had sent some $2.113 billion thus far (some $28.468 million less year-on-year).

Filipino seafarers were mostly made up of ratings, says 2006 data from the Philippine Overseas Employment Administration (POEA).

But 11 years later (in the latest available POEA data on seafarers

by category), there are now more seafarers doing non-marine jobs (185,375) over ratings (163,903) given the growth of the cruise ship industry.

Officers (2017: 100,185) dwarf in numbers even with continued demand for these ship officers.

Exposing problems

THE pandemic had also exposed the usual problems of seafarers like contractualization, says Dela Cruz. But as the pandemic drags on, the shipping industry’s players are hand over fist to speedily bounce back leading up to the “new normal.”

Some ships have been sent to scrap yards to save costs. Some smaller shipping companies have even sold their firms to competitors with deeper pockets.

Boldly, German liner AIDA Cruises (owned by Carnival Cruises) will resume voyages this August 5 through three domestic routes in Germany. Enhanced medical protocols, reduced passenger capacity and disallowing port visitations will mark this return by the lines AIDAPerla, AIDAmar and AIDAblu.

However, just last July 24, ten crew of AIDA Cruises were tested positive —some two days after around 750 Filipino and Indonesian crew arrived in Rostock, Germany as AIDA’s three lines are anchors aweigh amid Covid-19.

But many cruise line companies are not only moving back their resumption of cruises. Some others, like Cruise & Maritime Voyages, have closed operations.

Some container ships are returning to drop off goods in some regions, says a newly-released Port Economic Impact Barometer Report. Oil tanker owners hope demand for oil picks up again, as the voyages of these ships depend on that.

Sailing forward

MORNINGS at 4 are the “new normal” for Braganza and wife Grace.

Some 25 to 30 “styro packs” fill the Braganzas’ dining table; the kitchen’s up and running.

Cooking tapsilog and tocilog meals have been breaking Braganza’s morning solitude since midJune. The packed meals are for the officemates of Grace, and for a nearby office, both in Pasay City.

“Profit’s huge” for a day: the range is from P1,625 to P2,250.

A pack’s breakfast costs P65 to P75. When cooking’s finished and Grace completes her breakfast, Braganza steers the wheel to bring his wife and the packed meals to her workplace.

A sister in Real, Quezon also delivers crabs, shrimp and LapuLapu to Braganza. He sells these via mobile and online orders. A kilo of shrimp for tempura costs P400.

You have to think of how to earn nowadays, Braganza said. Of course, he’s awaiting a call from his cruise company.

Many Filipino seafarers are waiting for those next calls to sail past this pandemic. They and their vessels and ship owners continue to sound sirens across seas, seeking immediate solutions while sailing over the raging waves of Covid-19.

“If I were not strong (matatag),” the 33-year-old cruise housekeeping staff says, “I would have jumped ship.”

A6 Thursday, July 30, 2020 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

What will push China and US to decouple?

T

he global spread of an infectious disease often creates urgency for international cooperation. During the 2009 H1N1 pandemic caused by a novel influenza A virus that was detected first in the US and quickly spread across the world, for example, health authorities in the US and China closely worked together, exchanging technology and information in monitoring the spread of the flu and accelerating the development of a vaccine. The US provided China with virus samples and diagnostic kits, helping China become the first country to mass-produce an H1N1 vaccine. Chinese scientists, in turn, shared their method with the world, facilitating vaccine development efforts by pharmaceutical companies.

The Covid-19 pandemic has a different script. It brought US-China relations to its lowest point. A Deutsche Bank survey in May shows 41 percent of Americans will not buy “Made in China” products again, while 35 percent of Chinese will avoid US goods. Washington closed a Chinese consulate in the US, and Beijing retaliated by closing a US consulate in China. The China-US relationship has fallen into outright hostility.

In a Bloomberg Opinion article—Think It’s Too Hard to Decouple From China?

Think Again—Michael Schuman said that China was supposed to be the Promised Land for American business—the lucrative, indispensable market of the future.

But, as US-China tensions escalate and calls grow louder for their two economies to decouple, CEOs across the US are confronting a prospect that only a couple years ago would have seemed unthinkable: China may no longer be a reliable source of profits and production. “Politicians on both sides of the Pacific are already taking steps to disentangle the world’s two largest economies, at least to some extent.

The Trump administration, for instance, has curtailed American exports of certain technology to China, while Congress is moving to restrict Chinese access to US capital markets. Beijing has if anything been even more determined. Core elements of China’s foreign and economic policies—from the infrastructure-building Belt and Road Initiative to subsidy-rich, state-led industrial programs—are designed in part to reduce Western influence over the Chinese economy. There’s little reason to believe the trend will reverse,” he said.

In a Harvard Business Review article—Prepare for the US and China to Decouple—Michael A. Witt said: “Arguably, we’ve been headed towards this moment for a long while. De-globalization has been under way for more than a decade: At best, international trade was stagnating before the pandemic hit, and foreign direct investment had fallen by 70 percent in 2018 from its peak in 2007. Never easy, Sino-US relations have taken a more confrontational turn under Xi Jinping.

By 2018 we were already witnessing the opening skirmishes of a new Cold War. As de-globalization accelerates, two hostile economic blocs are emerging, one centered around China and the other around the United States.”

From The Diplomat: “Political battles aside, many Americans believe that Covid-19 revealed the danger of relying on China for manufactured products.

Indeed, the United States was incredibly ill prepared for the global pandemic, which revealed a lack of basic medical supplies and personal protective equipment such as face masks, nasal swabs, and ventilators. The disruption of China’s supply chain due to the pandemic and lockdown also sent negative shockwaves to US production and markets. The lesson seems to be that production must be brought back home, while the United States decouples from China. Support is rising for economic nationalism.”

Is it possible to decouple the two largest economies in the world? To a certain extent yes, and it will impact the whole world. Unfortunately, there’s no international organization that can pull the brakes or mediate in this predicament.

However, despite President Donald Trump’s recent threat that the US could pursue a complete decoupling from China, sober voices still prevail. Answering a question by syndicated radio show host Hugh Hewitt about prospects for a new cold war with China, Secretary of State Mike Pompeo said on Tuesday “the US economy was far more integrated with China’s than with the former Soviet Union.”

Treasury Secretary Steven Mnuchin, asked about decoupling in a BloombergInvesco forum, said it would occur if US companies were not allowed to compete fairly in China’s economy.

We hope the extreme predictions about the future of the US-China relations may prove wrong. We hope that the world’s two largest economies will work together to fight the pandemic and help rebuild the global economy. But a wise man has said that hope is not a strategy. It’s always better to be prepared.

Since 2005

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

Marquez v. Comelec James Jimenez

spox

T

he Omnibus Election Code, in Section 69, gives the Commission on Election (Comelec) the power to, of its own initiative or upon petition, “refuse to give due course to or cancel a certificate of candidacy if it is shown that said certificate has been filed to put the election process in mockery or disrepute or to cause confusion among the voters by the similarity of the names of the registered candidates or by other circumstances or acts which clearly demonstrate that the candidate has no bona fide intention to run for the office for which the certificate of candidacy has been filed and thus prevent a faithful determination of the true will of the electorate.”

For the most part, these candidates—especially those espousing principles and solutions to the country’s ills that go beyond mere unorthodoxy and eccentricity—are easy to spot. Of late, however, with many of our countrymen being more politically activated and desirous of contributing to the political leadership of the nation, the Comelec has been increasingly confronted with the complicated question of where exactly to draw the line.

Because waging a campaign for public office—particularly for a national office—requires money to run; and because a candidate can reasonably be expected to give up their means of livelihood by which they provide daily support to themselves and their family—the Comelec has adopted the “financial capability” test. The candidate, according to this test, must show the financial capability to sustain the rigors of a national campaign. Failing to do so

Editor in Chief Associate Editor News Editor

T. Anthony C. Cabangon

Senior Editors

Lorenzo M. Lomibao Jr., Gerard S. Ramos Lyn B. Resurreccion, Dennis D. Estopace Angel R. Calso

Online Editor

Ruben M. Cruz Jr.

Creative Director Chief Photographer Chairman of the Board & Ombudsman President VP-Finance VP Advertising Sales Advertising Sales Manager Group Circulation Manager

Eduardo A. Davad Nonilon G. Reyes Judge Pedro T. Santiago (Ret.) Benjamin V. Ramos Adebelo D. Gasmin Marvin Nisperos Estigoy Aldwin Maralit Tolosa Rolando M. Manangan

BusinessMirror is published daily by the Philippine Business Daily Mirror Publishing, Inc., with offices on the 3rd floor of Dominga Building III 2113 Chino Roces Avenue corner De La Rosa Street, Makati City, Philippines.

Tel. Nos. (Editorial) 817-9467; 813-0725. Fax line: 813-7025.

(Advertising Sales) 893-2019; 817-1351, 817-2807.

(Circulation) 893-1662; 814-0134 to 36. E-mail: news@businessmirror.com.ph.

www.businessmirror.com.ph

Printed by brown madonna Press, Inc.–Sun Valley Drive KM-15, South Superhighway, Parañaque, Metro Manila MEMBER OF

John Mangun

Lourdes M. Fernandez Jennifer A. Ng Vittorio V. Vitug

Challenged in the Supreme Court ON October 15, 2018, petitioner Marquez, a real-estate broker intent on running as an independent, filed a Certificate of Candidacy for the position of senator in the May 13, 2019 National and Local elections. On a petition to declare Marquez a nuisance candidate, the Comelec eventually ruled that—without clear proof of financial capability—he would “not be able to sustain the financial rigors of a nationwide campaign.” Marquez took the Comelec to the Supreme Court and on September 3 of the same year—less than four months after the elections, in Marquez v.

Comelec (GR 244274), Marquez won.

The question ultimately decided by the Court was whether the Comelec could rely solely on the lack of proof of financial capacity, as a ground to declare an aspirant for

Nobody likes the Godfathers

Founder Publisher

signals that the candidate simply filed his/her candidacy for reasons other than a bona fide intention to run for public office, clearly indicating that the candidate falls within the scope of Section 69.

Up to 2019 elections, this was the test used by the Comelec. A Supreme Court decision promulgated after the May elections, however, has changed that.

OUTSIDE THE BOX

C

hina is weird. Maybe not the country or the people but certainly the response and reaction to China from everywhere and everyone else. China’s relationship with the rest of the world is the textbook definition of “It’s Complicated.”

Personally, some of it has to do with jealousy in the West. The Chinese did invent the Big Four: papermaking, the compass, gunpowder, and printing, not to mention maybe the umbrella. But then again, it was the West that took all of those to greater heights, especially gunpowder. China sometimes likes to take credit for the umbrella but an Austrian woman—Slawa Horowitz— got the patent for an umbrella that folded in 1929.

There has also been a problem with the Mandarin name “Zhōngguó” as many Westerners think that it is arrogant to consider your country as the “Center of the World.” Then again, China and India were always number one or two for “Richest Nation in the World”

in terms of total size up until about 1500 A.D. However, it was the Portuguese that brought that “Center of the World” idea to Europe, not the Chinese. That was the same Portuguese that coined the name “Mare da China”—China Sea—creating some of the geo-political problems we have today.

Modern China does not exactly go out of its way to make the world feel comfortable. Remember May 2015?

Probably every newspaper in the world had a story about “Chinese billionaire takes 6,400 staff on holiday to Paris and Côte d’Azur.” That sort of conspicuous consumption used to be reserved for Saudi Arabian royalty and South American drug lords.

There are some local China apologists that seem more than willing

But since 2007, nobody has liked China. Its approval rating has always been in low to high 20s with an occasional burst to 30 percent to 31 percent approval. The difference now is that the US and China are tied for “Least Approved Leadership on Earth” at 33 percent and 32 percent, respectively. The only consolation for Trump and Xi is that Russia and Vladimir Putin are lower at 30 percent. Nobody likes the “Global Godfathers.” to take a bullet for Xi Jinping on all issues. China cannot do anything wrong as with the Covid-19 experience. Or “Democracy crackdown in Hong Kong? Never heard of it.”

Meanwhile, the Philippines has never been a big fan of China. This is in spite of the world’s first Chinatown being established in Manila in 1594. The ‘Manila Galleon Trade’ really put the Philippines on the map and that was all due to transporting Chinese goods to Spain.

Opinion surveys conducted since 1990 in the Philippines show a consistent pattern. “Net Trust” in the United States has been strong, mostly above 50 percent. The lowest was about positive 15 percent in 2005 and

senator a nuisance candidate. The Court declared that the Comelec could not.

According to the Court, by declaring “Marquez a nuisance candidate on the ground of lack of proof of his financial capacity to wage a nationwide campaign,” the Comelec had effectively imposed unconstitutional “property qualifications.”

In pointing out the defects in the Comelec’s application of the financial capacity rule, the Court noted that the Comelec did not explicitly require all candidates to prove that they had financial capacity, nor did the Comelec explicitly declare any standard that would define what constituted “financial capacity to sustain the rigors of waging a nationwide campaign.” These defects, the Court held, made the application of the concept of financial capability, violative of the equal protection guarantee, and—without any declared standard for what constitutes adequate financial capability—arbitrary, making the action constitutionally infirm.

Bona fide intention

Parenthetically, while the Court acknowledged “the Comelec’s legitimate objective in weeding out candidates who have not evinced a See “Jimenez,” A7

above 80 percent from 2012 to 2014.

The “Net Trust” in China has always been negative, with brief periods in 2016 and 2017 above Zero. The low point of trust in China came in 2015 at almost a negative 50 percent.

According to the management consulting company Gallup Inc., China has always been tough to love. Gallup released earlier this week a survey titled “Rating World Leaders—The US vs. Germany, China and Russia.”

Since the election of Donald Trump as US president, global perceptions of the US have gone from 48 percent approval to 33 percent. Now nobody likes the US. But since 2007, nobody has liked China. Its approval rating has always been in low to high 20s with an occasional burst to 30 percent to 31 percent approval. The difference now is that the US and China are tied for “Least Approved Leadership on Earth” at 33 percent and 32 percent, respectively.

The only consolation for Trump and Xi is that Russia and Vladimir Putin are lower at 30 percent. Nobody likes the “Global Godfathers.”

E-mail me at mangun@gmail.com. Visit my web site at www.mangunonmarkets.com. Follow me on Twitter @mangunonmarkets. PSE stockmarket information and technical analysis tools provided by the COL Financial Group Inc.

Opinion BusinessMirror

www.businessmirror.com.ph

ROW issue a bane for business with infra components Val A. Villanueva

Businesswise

P

robably inspired by the closure of ABS-CBN through his allies in Congress, President Duterte warned telecommunication firms Globe Telecom and Smart Communications of the same fate if they would not “shape up” by December.

And right on cue, Senate President Tito Sotto, an administration ally, says that the move is possible on “firms that fail to deliver quality service to the public.”

Duterte shouldn’t look far. The culprit is right in his backyard—local government units (LGUs) and government agencies that are making it difficult, not only for these two telecom firms, but for all businesses that have infrastructure components, which have reached a dead-end with their right-ofway (ROW) and other “stringent” government requirements.

As I have written in this space time and again, these two firms have been practically begging the government to help them fast track the rollout of their much-needed infrastructure, particularly the erection of cell sites. The red tape that they have had to endure is costing them expensive delays in man-hours and money spent.

Sotto says that this has already been remedied through a law which “practically removed red tape already.” Perhaps he should get his butt off his swivel chair to see for himself how some enterprising government officials are putting a stranglehold on the completion of vital infrastructure projects.

A good friend and a major player in cell site construction—whose company has built almost all the tower requirements of both Globe and Philippine Long Distance Telephone, and has also done business overseas—told BusinessWise that, without red tape, it only takes two years for a single tower to be put up.

But in the Philippines, where bureaucratic red tape rules, it takes forever.

He says prolonged license tenders and corruption in local government weigh down the rollout of essential infrastructure that will improve nationwide Internet connectivity.

The country’s Internet delivery remains at a snail’s pace, thanks to the ridiculous expanse of certifications and prolonged time it takes for LGUs to approve them. Compared with other countries where digital processing takes only a day without obstruction, it takes at least 24 stages and close to a hundred days just to secure a construction permit, my friend says. “More often than not, it will [be] 10 times slower because of corruption and inefficiency,” he adds.

He also claims that most of the charges local governments levy are unjustified. “Just to give you an example: local government charges P200,000 per year on a single tower.” There are other permits and requirements, such as for environmental impact and the concern in building cell sites in protected areas, etc. The gamut of requirements will need more than three times the space allotted for this column to be discussed.

Perhaps, this is also the problem being encountered by Dito Telecom, the third telecom company co-owned

by Davao billionaire Dennis Uy and

Jimenez. . .

continued from A6

bona fide intention to run for office from the electoral process,” it also cautioned the Comelec not to conflate “the bona fide intention to run with a financial capacity require-

China Telecoms. To date Dito has only built 300 out of the 1,300 cell sites that it vowed to complete by November this year. I seriously doubt that Dito could deliver. November is its target “technical launch” to gauge its capability to provide 37 percent of the country’s connectivity need at the speed of 27mbps. If it meets the November target, it is hoping to start commercial operations by March 2021.

It is not only in telecoms where such costly delays occur. Australianbased Energy World Corp. (EWC), in its recent quarterly report to shareholders in Australia, reveals that it is still in discussion with its land acquisition for the ROW, and that the Department of Energy has set the completion of its Liquefied Natural Gas (LNG) substation, which is crucial to its commercial operations only on January 2022, a year-long delay.

The country is damned lucky to have a foreign investor as patient as EWC. The $750 million LNG Pagbilao, Quezon project, which started in 2011, is still on track despite frustrating delays caused by government agencies tasked to see the project through.

The Senate energy committee two years ago instructed the DOE, the Energy Regulatory Commission, and National Grid Corporation of the Philippines to assist EWC in ensuring that the LNG power plant would be able to start operations as soon as possible. The request fell on deaf ears, despite EWC’s full compliance with all government regulations and requirements.

Former Quezon Gov. Eduardo Rodriguez, on whose property the LNG Pagbilao project partly nestles, told BusinessWise that EWC will no longer push for the connection of the project to the existing grid. Instead, the company will pursue building its own. EWC has been in talks to finalize loan arrangements with various banks to build a 14-kilometer grid.

He also said that, while the grid is being constructed, the company would hopefully be able to finally finish the first LNG Hub Terminal within the year set by the DOE. EWC is developing the first LNG Hub Terminal with full containment and onshore LNG tanks with pumpable capacity of 130,000 cubic meters of LNG each. The plant also consists of a dedicated jetty and marine infrastructure for the loading and unloading of LNG ships, as well as regasification, control center and workshops, and other ancillary facilities.

EWC, Rodriguez says, remains committed given the roadblocks it has had to hurdle through the years; the same predicament the two telecom companies face and are still targeted for expropriation by the Duterte government for a problem the government itself caused and is inutile in solving.

For comments and suggestions, e-mail me at mvala.v@gmail.com

ment,” emphasizing that a bona fide intention to run for office can be shown by other means.

I would argue however that, on multiple occasions, the Comelec has in fact looked beyond financial means to determine whether or not the candidate showed a bona fide intention to run for office. Member-

Thursday, July 30, 2020 A7

Blessed, broken and shared Msgr. Sabino A. Vengco Jr.

Alálaong Bagá

F

ollowing the Sundays focused on the kingdom of heaven as illustrated in the parables, we now turn our attention to the community of disciples, the Church, being formed by Jesus. Faith in Jesus is our present theme, the teacher who feeds the multitude with the multiplication of bread (Matthew 14:13-21).

The hungry many IN contrast to the people of Nazareth whose lack of faith did not lead Jesus to work mighty deeds there (Matthew 13:58), the crowds just could not have enough of Him. They followed Him on foot to the deserted place He withdrew to upon hearing of the murder of John the Baptizer. The vast crowd expectantly waiting for Him to disembark from the boat moved Jesus with pity. He saw their many needs and felt their intense longing for some assistance, and Jesus was no longer there to be by Himself but for them. Jesus in their midst meant compassion experienced and cures for their sicknesses given, signs of divine presence.

Evening time, the end of a day of human activities, registers the con-

tinuing human need for food. And out there in the desert, it is the scarcity of things and the limitedness of possibilities that surrounded everyone.

The number of the multitude (five thousand men besides women and children) made the situation even more clearly hopeless. The disciples in their practicality could only propose that the crowd be dismissed, so that the huge problem of food for so many could be literally broken up into each one’s individual concern (kanyakanya). The world’s way of divide the people and conquer the problem.

The breaking of bread

Instead of breaking up the crowd, Jesus wanted to break bread with them, to gather them together into a closer unity with Him, they who were

hungry for Him. “Give them some food yourselves,” Jesus instructed His disciples. Are they to feed the crowd with their five loaves of bread and two fish? The disciples were no better off than the hungry multitude, but they were there for the people whom they should not just get rid of. The equation changed radically when, with their little resources, they turned to Jesus in faith. Their faith and the compassion of Jesus for the people equals the miracle of so little feeding so many.

From Jesus and through Him, the food multiplied in the hands of the disciples for distribution. The inspired evangelist recalls God’s feeding His people in the wilderness.

In obeying God’s order, Moses provided food for a whole people out in the desert (Exodus 16:13-14). With 20 barley loaves, Elisha fed one hundred men (2 Kings 4:42-44). Here is someone greater than Moses and Elisha.

Drawing further on the richness of biblical tradition, Matthew specifically pictured the people being told to sit down on the grass. Thus the people waiting for a new shepherdking of the line of David were being reminded of the verse from the psalmist (23:2.5), “in meadows of green grass, He lets me lie” and “you set a table before me.” It is the same Lord who said, “Come to me and you will live” (Isaiah 55:3).

Alálaong bagá, it is evident that the gospel narration of the multiplication of bread has been shaped by messianic and Eucharistic concerns.

The explicit Eucharistic terminology in describing what Jesus did: “took, looked up to heaven, blessed, broke, and gave” indicate that this miracle is along the line of the mystery of the Eucharist. Not only the Lord’s Supper, but also his miraculous feeding of the crowds as well as His table fellowship with all sorts of people tell us of the Eucharistic love of Jesus in His compassion for the people as He nourishes them all.

The superabundance of the multiplied bread and the 12 baskets of leftovers mean that there is food for everyone; this is for all humankind.

The humanity that remains hungry even after satiation with what the world offers is invited to come to the table of the Lord and be truly filled by what Jesus alone can give unto life eternal. But the disciples must be there, not dismissing the crowds, but attending to them and faithfully passing on what Jesus wants His people to receive. More than ever, we need the Eucharist where the bread of life is blessed, broken and shared.

Join me in meditating on the Word of God every Sunday, from 5 to 6 a.m. on DWIZ 882, or by audio streaming on www.dwiz882.com.

Chasing FDI in a crumbling globalization

Razon’s observation is supported by the endless flow of negative news—almost daily—on the devastating economic impact of Covid-19 pandemic on virtually all countries of the world. The International Monetary Fund’s Managing Director Kristalina Georgieva calls the Coviddriven economic downturn “a crisis like no other.” Per IMF’s analysis, the global economy is likely to contract in 2020 by at least 3 percent, which means “the worst recession since the Great Depression.” This contraction is happening worldwide, dubbed by the IMF as a “synchronized contraction, a sudden global shutdown.”

The sharpest contractions (over 6 percent) are occurring in the United States and Europe, the global epicenters of the pandemic. These two motors of globalization are joined by the other locomotives of the global market such as Brazil, Middle East and South Africa. In Asia, contraction is happening across the continent, from South and Central Asia to East and Southeast Asia, including the countries down under (Australia and New Zealand). China’s economy is still in positive territory but its projected 1.2-percent growth rate (IMF study) is the lowest in its four decades of unbelievable annual double-digit growth.

Because of the foregoing, United Nations Conference on Trade and Development, the UN agency specializing on the movement of foreign direct investments or foreign direct investment (FDI) under globaliza-

tion, came up with a gloomy World Investment Report 2020. The Report projects a dramatic drop in foreign direct investment in 2020 and 2021 as follows: “…Global FDI flows are forecast to decrease by up to 40 percent in 2020, from their 2019 value of $1.54 trillion.

This would bring FDI below $1trillion for the first time since 2005. FDI is projected to decrease by a further 5 to 10 percent in 2021.”

Decrease by 40 percent! This sharp decline in FDI flows worldwide is deepened further by the protectionist response of the developed countries to the pandemic crisis.

Most of the stimulus spending being lined up by their governments seek the retention of jobs and businesses at home as well as the revival of critical industries through capacity building in the production of health-related materials like PPEs and ventilators. Trump’s anti-China sentiment is also increasingly being shared by some of the world leaders, who are now calling on their mutinationals to divest from China and return investments and jobs to their home country. End of the seamless flow of FDI under a borderless global economic order?

Against the changing global economic landscape outlined above, one is at a loss why some Filipino policymakers are overly focused on how to entice global investors to park their funds in the Philippines by simply calling for the further opening up of the market, as if the country has been

a closed economy. One measure that they are pushing is the passage of the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE).

The idea is to reduce the corporate income tax from 30 to 25 percent (followed by one percent annual reduction) and that losses incurred in 2020 can be used by the corporations as deductibles in doing their income accounting for the next five years.

Accordingly, more than 90,000 small businesses shall benefit from CREATE. Fine.

But then there is the leap in logic: the above provisions will also bring in FDI. How? By aligning the Philippine income tax rates with the low tax rates offered by the other Asean members. This is questionable. Tax incentives alone are not enough to bring in FDI. In fact, the Philippines was ahead of these countries in the game of lowering tax rates (before 2000). And yet, these did not usher in a flood of FDI. One proof of this is that the Peza-accredited enterprises have been enjoying fiscal incentives such as the income tax holiday and duty-free import/export privileges since the 1970s. And yet there has been no visible surge of FDI in the Peza areas compared to what we have seen in the case of China. Incidentally, the proposed removal of the ITH or the 5 percent gross income tax (GIT) was the reason why the Peza administration was vehemently against the original draft of CREATE. To appease Peza, the revised CREATE draft provides for a long transition period in the migration of Peza enterprises from the ITH/GIT system to CIT. The point is that low tax rates are not the sole factor used by foreign investors in any decision on whether to come to the country or not. As one former DTI secretary quipped: we have been throwing parties to welcome foreign investors but they do not come. Instead, they went to China where restrictions on FDI operations were a lot tougher such as rules requiring investors to share technology, which is now at the center of the US-China trade war.

The fact is that the Philippines has been one of the most open to FDI in Asia since the 1990s, due largely to

ship in a political party, for instance, has long been considered as a valid indicator; so too has a candidate’s track record for advocacy in the public sphere.

sioner Luie Tito Guia counseled that the Comelec must expect more candidates for the Presidency and the Senate in subsequent elections. “It may be wise to revisit existing policies and procedures in anticipation of the situation,” he wrote, while ensuring that “the constitutional requirements of not imposing prop-

erty qualifications to candidacy and equal protection of laws are not violated.”

I could not agree more.

The decision in Marquez did not eliminate the need to weed out nuisance candidates, as some might be tempted to crow. The decision simply pointed out that failing to

Dr. Rene E. Ofreneo

LABOREM EXERCENS

A

T the height of the enhanced community quarantine (ECQ) in April, Enrique Razon told ANC: “The globalization that we have now, that is over.” Razon happens to be the most global in outlook among the dozen or so Filipino taipans dominating the Philippine economy. He controls International Container Terminal Services Inc., which operates in all the continents of the world—Asia-Pacific, the Americas, Europe, the Middle East and Africa.

Moving forward

IN an article written for the Comelec’s newsletter, former Commis-

its compliance with the policy conditionalities under the IMF-WB’s structural adjustment program. In 1991, Congress passed the Foreign Investment Liberalization Act, allowing 100 percent foreign equity in various industrial fields except in a few areas listed under a “negative investment list” where Filipino capital is required to be in the majority. This negative list is a short one; it covers the following: mass media, cooperative sector, land and public utilities.

The liberalizers are still not happy with the negative list and the 60:40 Filipino-foreign equity arrangement.

In the name of FDI liberalization, some legislators and economists are even seeking an amendment of the Constitution as if such liberalization is a life-and-death matter for the economy. Is the liberalization of the markets for land, mass media (including Internet and telecom), and utilities (power, water, etc.) really crucial to Philippine economic recovery from the pandemic crisis? Is this liberalization the way forward, or is this the means to take out the local “oligarchs” and replace them with foreign players?

In the meantime, CREATE, if passed, will affect the revenue-generating capacity of the government in these difficult Covid times. It is estimated that over P600 billion will be lost in tax collections.

The truth is that those who will avail of CREATE tax privileges are mainly the top 100 corporations, whose operations dwarf those of the 99 percent of the one million registered enterprises in terms of sales, assets and profits. As to the hundreds of thousands of micro businesses, the CREATE privileges do not matter because these cannot substitute for incentives given under the Barangay Micro Business Enterprise Law or BMBE. As to the small and medium business enterprises, many have already been flattened by the Covid lockdown and too weak to inquire if CREATE is the lifeline they need in these difficult times.

Policy-makers need to be more creative in packaging tax and recovery programs needed to save the economy in Covid times. show financial capacity by itself cannot be used to disqualify a candidate; that in fact the very concept of financial capacity needs a great deal of standardization both in definition and application. And with more than a year to go before the next elections, the Comelec can certainly do that.

A8 Thursday, July 30, 2020

DOF seeks DOJ help to catch scammers in cryptocurrency

T

By Bernadette D. Nicolas

@BNicolasBM

HE Department of Finance (DOF) sought the help of the Department of Justice’s (DOJ) Cybercrime Office to go after those behind the “fraudulent use” of the name of the country’s finance chief to promote a “fake” cryptocurrency auto-trading platform.

In his letter to Justice Secretary Menardo I. Guevarra, Finance Secretary Carlos G. Dominguez III said his name is being used in a series of “false information” posted on Facebook to encourage others to invest in schemes offered by “bitcoin revolution.”

Dominguez also sent screenshots of such Facebook posts along with his letter to Guevarra.

“Although this incident has been

reported to Facebook to prevent these hoaxes, the perpetrator of such acts may still continue to find other avenues to pursue their malicious activities.

T hus, we request the DOJ Cybercrime Office to track, identify, prosecute those responsible for these posts,” Dominguez said in a July 28 letter, a copy of which was sent to finance reporters late Tuesday.

Moreover, similar investment ploys also used the names of some Finance and Treasury officials in other countries as well as Filipino celebrities in a bid to dupe the public into falling for the scam, said Dominguez, who also heads the government’s Economic Development Cluster.

“The DOJ’s appropriate action on the matter will be highly appreciated,” he said.

However, Dominguez said the DOJ has yet to respond to his letter as of Wednesday morning.

Prior to this, the DOF had repeatedly warned the public against the bitcoin revolution.

Aside from the DOF, the Securities and Exchange Commission (SEC) has also warned the public against investing in any scheme offered by bitcoin revolution or any other entities engaged in digital asset trading which promises rates of return with little or no risk.

The finance department also earlier urged the public to report this and other similar investment schemes to the Enforcement and Investor Protection Department of SEC, with telephone number (02) 8818-5704.

EDUCATION, ENTERTAINMENT, FITNESS BIZ TO RETURN AUG

By Elijah Felice E. Rosales

E

@alyasjah

DUCATION, fitness and entertainment establishments on Wednesday secured the government’s approval to resume operations by August as part of the general thrust to reopen the economy.

Trade Secretary Ramon M. Lopez told reporters the Inter-Agency Task Force (IATF) approved his agency’s proposal to permit the reopening of several business activities in general community quarantine (GCQ) areas. Effective August 1, six sectors were reclassified to Category III, or the list of industries allowed to do business under the quarantine.

They are: testing, tutorial and review centers; gyms and fitness and sports facilities; computer shops and Internet cafés; establishments offering personal grooming and aesthetic services; pet grooming services; and drive-in cinemas.

As per IATF instructions, they are authorized to operate in GCQ areas for at least 30 percent of their normal capacity. Also, they shall implement health protocols mandated by the Department of Trade and Industry (DTI) in coordination with the Department of Health.

Last week BusinessMirror reported the DTI is readying the revised list of business activities that are allowed to operate during the quarantine.

Lopez explained the economy can no longer wait for the virus to be wiped out fully before it is reopened, especially at a time millions are left jobless by the health crisis. He said the virus is here to stay, and the people should live with this reality.

“We can live with the virus, and that’s the mindset now. We just have to manage it. The virus is here to stay, but we should slowly reopen the economy,” Lopez said. As promised, however, numerous business activities were kept in Category IV, the classification for sectors allowed to operate only in areas under modified GCQ. Most of them, as expected, require people to stay close to each other, compromising social distancing protocols.

They are: full body massage; tattoo and body piercing; live events; entertainment industries; libraries, archives, museums and cultural centers; tourist spots; and language, driving and talent schools.

Further, cockfighting pits are prohibited from reopening in any quarantine restriction, same as beer houses and similar establishments primarily serving alcoholic drinks. Similarly, industries that operate kid amusement shops and parks remain barred from reopening.

Sustainable banking key to recovery –BSP chief

By Tyrone Jasper C. Piad @Tyronepiad

S

USTAINABLE banking is a key aspect of the economy’s blueprint for recovery, Bangko Sentral ng Pilipinas (BSP) said.

In a webinar hosted by World Wide Fund for Nature (WWF) and Bankers Association of the Philippines (BAP), BSP Governor Benjamin E. Diokno said that the government’s four-pillar strategy coincides with the United Nations’ sustainable development agenda, which underscores recovery and building a green and sustainable economy.

Included among the strategic objectives are sustainable central banking, which Diokno said highlights improved internal capacity and climate and environmental risks assessment to its regional operations.

Diokno noted the banks have launched sustainable finance products to support micro, small and medium enterprises, health and labor sectors amid the pandemic. This, along with the rise of digital banking and payment, is seen to help propel the economic recovery of the Philippines.

The BSP governor also shared that the regulator was eyeing to apply as a member of the Central Banks and Supervisors Network for Greening the Financial System, a group launched in 2017 promoting sustainable financing.

Sustainability

BSP Deputy Governor Chuchi Fonacier, meanwhile, said that banks are expected to report their sustainability strategic objectives and risk appetites, breakdown of environmental and social (E&S) exposures and existing emerging E&S risks impact on the bank.

She said the banks can send a “powerful signal to the business community of their new strategic approach towards sustainability, and in inspiring their clients and stakeholders in making similar responsible business decisions.”

“Climate change is both a source of financial risk and instability, and the BSP Circular reflects regional and global trends of jurisdictions developing regulatory frameworks to integrate sustainability into banks’ strategies and operations to protect against systemic environmental and social risks such as climate change,” WWF Vice President Sylvain Augoyard said.

BSP Circular 1085 includes the sustainable finance framework. It was issued last April 29 this year.

BAP Risk Committee Chairman Eugene Acevedo was also present in the webinar and provided recommendations to optimize operations of the banks.

Acevedo is also the president of Rizal Commercial Banking Corp.

Senators seek special audit of ₧250-B Covid-19 spending

By Butch Fernandez @butchfBM

S

EVEN senators are asking the Commission on Audit to mount a special audit of the multibillion funding allocated under the Bayanihan to Heal as One Law (Bayanihan Act) to contain the spread of the deadly coronavirus disease, dubbed Covid-19.

Affirming its urgency, Sen. Risa Hontiveros filed Senate Resolution 479 with Senate President Pro Tempore Ralph Recto, Senate Finance Committee Chairman Juan Edgardo Angara, Sen. Panfilo Lacson, and minority Sens.

Franklin Drilon, Francis Pangilinan, and Leila de Lima listed as cosponsors.

Hontiveros recalled that in passing the Bayanihan Law, Congress gave the Duterte administration“comprehensive powers, including the power to realign and allocate billions of taxpayers’money to respond to the Covid-19 crisis.”

Stressing the need to verify if the reallocated multibillion-peso assistance fund was delivered to intended beneficiaries, she added: “Kailangan nating malaman kung ang tulong ba ay napunta para sa dapat tulungan [We need to know if the assistance went to

the intended beneficiaries].”

Hontiveros recalled that Republic Act 11469 allowed government to swiftly procure commodities, facilities, utilities and services deemed necessary for the Covid-19 response with exemptions from the requirements of bidding as laid out in the Government Procurement Reform Act (Republic Act 9184).

It was billed as a“spending authority” bill meant to give the Executive flexibility in realigning items—a total of P250 billion—in the 2020 budget in order to deal quickly with the pandemic.

Hontiveros noted, however, that various procurements made in relation to Covid-19 have been marred by allegations of overpricing.

For instance, Resolution 479 noted the Duterte administration’s purchase of automated nucleic acid extractors for P4 million against P1.75 million purchased by the private sector, personal protective equipment (PPE) sets of P1,800 when the market price ranges from P400 to P1,000, and the importation of more expensive RT-PCR test kits from China and Korea “while cheaper Philippine-made ones are gathering dust in laboratories.”

Hontiveros added that the resolution

also listed the purchase of allegedly overpriced PPE by the Procurement Services of the Department of Budget and Management (PS-DBM) and Philippine International Trading Corp.

(PITC) “while many health workers and frontliners have fallen ill from the lack of adequate protective gear.”

The senator also wondered whether adequate funds were provided for the PPEs of counter-Covid personnel in the field, asking: “Were the funds for PPEs enough? and if so, why does it seem as if they didn’t go to frontliners?”

She asserted that “the health crisis should not allow us to relax our accountability measures,” adding that the people should be “able to trust the government that no one is lining their pockets with taxpayers’ money.”

At the same time, Resolution 479 prods State auditors to inform lawmakers of its findings as Congress prepares to scrutinize the 2021 budget bill.

Lawmakers, said Hontiveros, are “anticipating massive allocations to address health, economic and social impacts of Covid-19,” stressing this was why“it is of critical importance that there be audit findings to guide legislators in our exercise of the power of the purse.”

Companies BusinessMirror

www.businessmirror.com.ph

Shift to home-cooked meals boosts RFM income in H1 From www.rfmfoods.com.

By VG Cabuag

F

@villygc

ood and beverage company RFM Corp. said its income in the first half rose 5 percent to P611 million, from last year’s P580 million, mainly due to the changes in consumers’ eating habits.

Revenues were flat at P7.09 billion for the six-month period ending June, from last year’s P6.96 billion.

“Consumer eating behavior during the lockdown has shifted food demand towards more nutritious food cooked at home. The challenge during the lockdown was how to keep the production lines running

to meet demand,” the company said in its report. “The slowdown in ice cream in the lockdown period, as well as bread sales to fast food and industrial clients, has been quickly recovering with the lifting of the ECQ [enhanced community quarantine].”

The company said its milk, pasta and sauces benefited from this

change in behavior. The company also saw a surge in demand for hotcake and other mixes of the White King line.

Sales of RFM’s pasta, milk, sauce and White King in the first half grew 18 percent and with improving ice cream sales, RFM said it expects total topline to increase in the coming months.

For the second quarter alone, RFM said its income growth was much higher at 11 percent to P399 million, from last year’s P359 million. Revenues, however, were still flat at P3.87 billion, from P3.84 billion last year.

RFM also declared a cash dividend of P366 million, or P0.1060 per share payable on September 10 with record date as of August 13. Total dividend per share for 2020 is now P0.212 per share, or a dividend yield of 4.99

percent at the P4.25 per share price.

The company said its board approved another P500 million for its continuing share buyback program.

“This second payment of dividends out of the 2019 income of P1.23 billion completes the planned 60 percent payout rate totaling P737 million, higher than the usual 50 percent payout,” RFM President and CEO Jose Ma. A. Concepcion III said.

“Despite the Covid-19 impact on economic activities, RFM’s balance sheet and cash position remained strong and allowed the continuation of dividend payments and the share buyback.”

In light of the uncertainty created by the pandemic, Concepcion said RFM has limited its expenses and capex spending to conserve liquidity and maintain profitability in light of changing consumption patterns.

DENR issues violation notice to AC Energy

By Lenie Lectura @llectura

A

C Energy Philippines Inc. (ACEPH) has received from the Department of Environment and Natural Resources-Environmental Management Bureau (DENR-EMB) Region 6 a notice of violation in relation to the oil spill incident in Iloilo City.

The notice was issued to Power Barge (PB) 102 owned by ACEPH. The company earlier reported that an explosion damaged PB102 which carried about 40,000 liters of bunker fuel. This led to an oil spill last July 3.

The power firm received the notice on Tuesday.

The DENR-EMB has forwarded the case to the Pollution Adjudication Board for determination of

the imposable fines.

“The DENR-EMB Region 6 issued the Notice to the Company for possible violation of Section 27[a] of DENR Administrative Order 2005-10, the Implementing Rules and Regulations of the Philippine Clean Water Act of 2004 [Republic Act 9275], in connection with the oil spill involving PB 102 which occurred on July 3,” ACEPH said.

Fines range from P10,000 to P200,000 per day from the time of the incident until full recovery of the discharged fuel for alleged violation of RA 9275; and P50,000 to P1,000,000 or imprisonment of not less than one year but not more than six years, or both, for alleged violation of Section 4 of Presidential Decree 979.

ACEPH, for its part, said that it is now actively working with the

Foundation lodges case against execs of RCBC

O

fficials of Rizal Commercial Banking Corp. (RCBC), including its president Eugene Acevedo, received a complaint from a Pasig City-based foundation for alleged fraud and violation of banking law.

In a disclosure on Wednesday to the local bourse, the Yuchengco-led bank said the Inang Nag-aaruga Sa Anak Foundation lodged a case against its president, current and former members of board of directors and a former employee.

“Inang Nag-aaruga Sa Anak Foundation and others collectively complain against the Respondents for supposedly violating Section 56 of Republic Act No. 8791, otherwise known as the General Banking Law of 2000, in relation to Section 37 of Republic Act No. 7653, or the New Central Bank Act, as amended, for alleged fraud committed against the Complainants, specifically by Ms. Liza P. Arzaga, a former and dismissed employee of the RCBC Garnet Business Center,” the bank said.

The foundation is represented by Ma. Asuncion L. Yu; and Ma. Teresa P. Cruz-Evangelista, Felipe Ferdinand P. Cruz III, Christopher P. de Venecia, Ma. Georgina V. Perez-de Venecia, Ma. Asuncion P. Ampil and Veronica F. Roxas.

The case is currently pending before the Office of the General Counsel and Legal Services-Investigation and Prosecution Group of the Bangko Sentral ng Pilipinas (BSP).

The Yuchengco-led bank said it was not impleaded in the administrative case. “RCBC, however, will monitor the filing of the respondents of their answer to the BSP.” Section 56 of the General Banking Law of 2000 outlines the different scenarios of unsafe or unsound manner of conducting business. The list includes act or omission resulting in material loss or damage.

“Whenever a bank, quasi-bank or trust entity persists in conducting its business in an unsafe or unsound manner, the Monetary Board (MB) may, without prejudice to the administrative sanctions provided in Section 37 of the New Central Bank Act, take action under Section 30 of the same Act and/ or immediately exclude the erring bank from clearing, the provisions of law to the contrary notwithstanding,” it noted.

Meanwhile, Section 37 of the New Central Bank Act covers the administrative sanctions on banks and quasi-banks, including penalty in amounts deemed appropriate by MB. Tyrone Jasper C. Piad

local government units (LGUs) to address the livelihood of those affected, spearhead community programs, and rehabilitate the marine and coastal ecosystems, including the fisheries and mangrove, as quickly as possible.

Meanwhile, all 308 families are back home safely last July 18, with the evacuees having passed the reintegration parameters to ensure the safe return to their homes.

The parameters were developed and executed by a multistakeholder task force composed of the various barangays in Iloilo City, the Iloilo City government and its various offices, the Philippine Coast Guard, ACEPH and its consultant, AECOM Philippines, and clean-up contractor, Harbor Star Shipping Services Inc. Also, collaboration and coop-

eration continue at the ongoing coastal clean-up operations.

The ACEPH team, along with AECOM Philippines, presented their action plans and spill assessment update.

“The outpouring of support from industry players, government agencies, other private sectors and volunteers has been truly inspiring. And while much work still needs to be done, ACEPH underpins its unwavering commitment to fulfill all responsibilities, and do everything in its power to fully address the environmental consequences of the accident,” it said.

“ACEPH will ensure that lessons learned here will be used as it emerges a stronger and safer energy platform, continuing to aid in the country’s energy security.”

CIAC heeds Duterte’s call, defers rentals of locators

C

lark Freeport—The Clark International Airport Corp. (CIAC) announced on Tuesday that it is deferring the collection of lease rentals of its locators in response to President Duterte’s appeal during his recent State of the Nation Address for government agencies to assist the business sector adversely affected by the Covid-19 pandemic.

“We currently have about 45 locators and we told them that they don’t have to right now pay their rentals for the months of April to June this year, and they also do not need to worry about paying any interests or penalties on delayed payments,” CIAC President Aaron Aquino said.

According to Aquino, the enhanced community quarantine (ECQ) and general community quarantine (GCQ) were imposed inside Clark Freeport Zone during the months of April and June. “We hope this policy will serve as a springboard for businesses here at the aviation complex to promptly recover from the sudden business disruption and income loss caused by the pandemic,” he said.

CIAC’s newest policy to grant assistance to its locators affected by the Covid-19 pandemic comes in the wake of President Duterte’s another call to lawmakers to finalize the Bayanihan II Act, a recent measure to finance governmentinitiated programs to help businesses, employees and marginalized members of society to cope with the impact of the pandemic. “It was no less than President Duterte who reminded bigger establishments in our case, the CIAC as the government-owned corporation to give assistance to stakeholders on rentals, or a form of an extension in the period of payments,”

Aquino said.

In addition to the deferred collection of lease rentals during the quarantine period, Aquino said CIAC locators are also given a 30-day grace period from the last due date of their rental payments or from the date of the lifting of the ECQ, modified ECQ (MECQ) and GCQ, “whichever is longer, without incurring interests.”

After the grace period, locators are then given the option of paying their unsettled accounts through a 12-month installment scheme, he added.

“This means the amount of rentals accrued by locators during the ECQ, MECQ and GCQ can be equally amortized in 12 months following the end of the 30-day grace period, and again without interest or penalties,” Aquino said.

For outstanding accounts as of March 15, or “old unpaid accounts prior to the imposition of the ECQ”, Aquino noted CIAC shall grant a grace period for payment of 90 calendar days, adding that no interest or penalty shall be imposed from March 16 up to June 15.

The CIAC chief noted that these policies will be applied while awaiting an official guideline from the Department of Trade Industry on the request of both the Clark Development Corp. and the Bases Conversion Development Authority to allow the grant of full waiver on payment of lease rentals from April to June.

The Clark Civil Aviation Complex managed

by CIAC is home to the privately-run Clark International Airport, as well as the mixed-use business district Clark Global City, and currently around 45 locators in cargo and aviationrelated businesses.

Thursday, July 30, 2020

B1

MWCI, Maynilad told to explain water bills

By Jonathan L. Mayuga @jonlmayuga

A

fter receiving over 400 complaints from customers since last month, the Metropolitan Waterworks and Sewerage System (MWSS) said it has ordered Maynilad Water Services Inc. (MWSI) and Manila Water Co. Inc. (MWCI) to explain the surge in water bills.

MWSS Chief Regulator Patrick Lester N. Ty said a Notice to Explain was issued by the agency’s Regulatory Office (RO) to the two private water concessionaires on July 23.

“The concessionaires are expected to resolve these observed violations, and issue an official explanation within this week,” Ty said in a statement.

He said the MWSS RO has received over 400 billing complaints from the concessionaires’ customers since June.

It may be recalled that meter reading and billing activities have been suspended, and the average billing policy has been applied during the enhanced community quarantine (ECQ) and modified ECQ periods.

Prior to the resumption of the concessionaires’ read-and-bill operations the previous month, the MWSS-RO has put in place various measures to mitigate the impact of the Covid-19 pandemic on the financial situation of customers and to prevent bill shock.

MWSS said the concessionaires have been ordered to explain their noncompliance to several of the directives that have been agreed upon by the agency and the water concessionaires.

This includes the directive to verify the consumption patterns of customers, check for irregularities and automatically withhold any Statement of Account with observed significant deviation from these patterns for further investigation and necessary adjustment.

The water concessionaires also did not communicate effectively, and in a timely manner, all information regarding the directives to custom-

ers and concerned stakeholders.

“The MWSS RO will continue to address customer concerns regarding the concessionaires’ services, as well as actively monitor and validate the concessionaires’ compliance with the agency’s strategies and directives. The agency assures the public that sanctions will be imposed over violations of such policies that aim to protect public welfare,” Ty said.

Reply

Manila Water said it is now preparing the letter of response to the notice to explain issued by the MWSS-RO. Of the complaints it received, the company said only 0.03 percent remains unresolved.

“We will be recommending to the Regulatory Office a solution to the remaining .03 percent of unresolved issues due to after-the-meter leaks. We need the Regulators permission to effect these solutions,” the company said in a statement.

Based on data gathered by Manila Water from June 1 to July 27, out of the 1 million customers of the company, 7 percent or 73,588 sought clarification on their billing.

“Of these, 90 percent were resolved by the call center or by business area frontliners. Only 0.7 percent of customers, or 7,937, have cases that were endorsed for further handling and of these, 6,246 were verified to have been billed based on actual consumption of customers," the company said.

“There are 379 cases wherein the spike in billing was caused by undetected underground leak in the customers’ plumbing system while only 57 customers had their bills adjusted.” it added.

Manila Water also said it followed all the guidelines issued by the MWSS-RO on average billing during the lockdown and the actual billing after the quarantine restrictions were eased as well as installment payments and disconnection grace period.

B2

Companies BusinessMirror

Thursday, July 30, 2020

PSE STOCK QUOTATIONS

July 29, 2020

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

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

45.3 89.5 68.2 19.96 6.73 7.2 34.5 17.08 19.76 47.25 16 91.9 52.75 0.69 20.3 2.32 7.22 0.93 0.59 157

46.4 90.5 69 20 7.8 7.22 34.6 17.1 19.8 48 16.1 92 52.9 0.77 20.6 2.37 8.79 0.97 0.6 160

45.05 89.15 68.1 19.92 7.8 7.15 34.4 17.12 20.1 48 16.1 92.1 52.9 0.68 20.6 2.32 7.2 0.97 0.61 159

46 90.5 69 20 7.8 7.24 35 17.12 20.1 48 16.1 93 52.9 0.77 20.6 2.37 7.2 0.97 0.61 160

45.05 88.95 67.8 19.92 7.8 7.15 34.4 17.1 19.76 48 16 91.8 52.55 0.68 20.3 2.32 7.2 0.95 0.6 157

46 90.5 69 20 7.8 7.2 34.5 17.1 19.76 48 16 92 52.9 0.77 20.6 2.37 7.2 0.95 0.6 157

3900 1772240 519740 77700 1000 169800 1209900 700 84200 300 21900 332530 28540 10000 3000 16000 1000 10000 2000 210

178095 158840445 35609844 1550042 7800 1223887 41867815 11972 1666382 14400 351920 30607715.5 1506621 6950 61620 37220 7200 9520 1210 33311

INDUSTRIAL

AC ENERGY ALSONS CONS ABOITIZ POWER BASIC ENERGY FIRST GEN FIRST PHIL HLDG MERALCO MANILA WATER PETRON PETROENERGY PHX PETROLEUM PILIPINAS SHELL SPC POWER AGRINURTURE AXELUM CENTURY FOOD DEL MONTE DNL INDUS EMPERADOR SMC FOODANDBEV ALLIANCE SELECT FRUITAS HLDG GINEBRA JOLLIBEE MACAY HLDG MAXS GROUP SHAKEYS PIZZA ROXAS AND CO RFM CORP ROXAS HLDG SWIFT FOODS UNIV ROBINA VITARICH CONCRETE A CONCRETE B CEMEX HLDG EAGLE CEMENT EEI CORP HOLCIM MEGAWIDE PHINMA TKC METALS VULCAN INDL CROWN ASIA EUROMED CONCEPCION GREENERGY INTEGRATED MICR IONICS SFA SEMICON CIRTEK HLDG

2.29 1.18 25.65 0.151 26 59.35 266.4 12.54 3.11 3.3 11.14 17.22 7.92 7.19 2.06 14.48 5.38 4.56 9.09 63.9 0.6 1.17 30.9 131 6.82 4.73 5.95 1.16 4.2 1.4 0.103 122 0.78 56 58.9 0.88 9.8 4.85 4.75 6.67 8.37 0.66 0.74 1.84 1.93 18.98 1.76 4.8 0.95 1.27 5.32

2.3 1.2 25.7 0.163 26.05 60 268 12.6 3.12 3.38 11.4 17.4 7.97 7.28 2.07 14.52 5.58 4.59 9.1 64.25 0.61 1.19 31.95 133.1 7.1 4.75 5.96 1.18 4.26 1.48 0.109 124.4 0.79 56.85 62.45 0.89 9.85 4.89 4.79 6.7 9 0.7 0.76 1.92 1.94 19.2 1.77 4.85 0.97 1.28 5.35

2.3 1.16 25.9 0.164 24.8 60 267.8 12.16 3.12 3.39 11.1 17.8 8 7.43 1.93 14.5 5.48 4.54 9.1 63.05 0.63 1.19 30.9 130 6.74 4.74 5.95 1.15 4.14 1.49 0.105 119.8 0.78 57.6 62.95 0.9 9.16 4.85 4.6 6.64 9 0.7 0.76 1.87 1.72 18.98 1.75 4.82 0.97 1.34 5.5

2.34 1.18 26 0.164 26 60.5 268 12.72 3.12 3.4 11.4 17.86 8 7.5 2.07 14.52 5.58 4.65 9.15 64.25 0.63 1.2 30.9 133.5 7.1 4.75 5.97 1.18 4.2 1.49 0.105 124.4 0.8 59.9 62.95 0.9 9.85 4.89 4.75 6.85 9 0.7 0.77 1.92 2.05 19 1.8 4.85 0.97 1.34 5.5

2.26 1.14 25.4 0.164 24.7 59 260.4 12.16 3.11 3.37 11.1 17.22 7.9 7.2 1.85 14.48 5.22 4.53 9.05 62.55 0.6 1.15 30.9 129.8 6.74 4.7 5.95 1.15 4.14 1.41 0.105 119.8 0.78 55.3 58.05 0.88 9.16 4.85 4.5 6.52 8.37 0.65 0.73 1.84 1.72 18.98 1.7 4.8 0.94 1.28 5.15

2.3 1.18 25.7 0.164 26 60 268 12.6 3.12 3.38 11.4 17.22 7.97 7.28 2.06 14.48 5.38 4.56 9.1 64.25 0.6 1.19 30.9 131 7.1 4.75 5.95 1.18 4.2 1.41 0.105 124.4 0.79 56.9 62.45 0.89 9.8 4.85 4.75 6.7 8.98 0.7 0.76 1.92 1.94 19 1.77 4.8 0.95 1.28 5.35

5608000 38000 671800 10000 1205400 31450 84030 2945000 261000 11000 75000 178800 92700 71300 4592000 3243100 238800 830000 1373500 102770 132000 5467000 95100 3009760 7500 98000 711600 722000 9000 31000 10000 465950 15705000 6840 57500 3393000 715700 191000 1372000 1315300 4200 677000 1847000 26000 2241000 200500 3283000 130000 117000 1645000 1069200

114930 -57903874 11115943.5 -591880 -592330 -4404845 -1335672 -20452840 -332258 -

12966670 43510 17237410 1640 30582595 1883391.5 22326402 36419878 812800 37260 848740 3123764 733971 516463 9088120 47021854 1305558 3810150 12516389 6515168 81470 6462560 2938590 393292986 52163 462300 4234645 838880 37520 44560 1050 57254712 12406780 388609 3402545.5 3016720 7013796 927770 6290550 8695087 36420 447220 1373680 48920 4345340 3809490 5724570 624550 110870 2135430 5658413

-230069.9999 -8512190 11489150 -416682.5 797684 -340240 190 -1253902 -3200 37814 -3555950 -3155710 -420485 -837160 -1752560 -375204 -280270 2626500 -6130838 -122190 2168974 16633678 -116140 -1298510 -4970 1406920 -399276 15400 -13840 -3800000 241480 28590 -200 311101

HOLDING & FRIMS ABACORE CAPITAL 0.465 0.47 0.465 0.465 0.46 0.465 1470000 683250 7.43 7.87 7.93 7.93 7.07 7.87 9100 66678 ASIABEST GROUP AYALA CORP 723 723.5 720 723 705.5 723 176990 126876400 49.25 49.5 49 49.5 48.6 49.5 347600 17140820 ABOITIZ EQUITY ALLIANCE GLOBAL 5.75 5.76 5.8 5.8 5.67 5.76 8181600 46994223 1.68 1.7 1.65 1.68 1.63 1.68 270000 449050 AYALA LAND LOG ANSCOR 6.15 6.3 6.24 6.24 6.24 6.24 26900 167856 0.61 0.62 0.62 0.64 0.6 0.62 2746000 1705140 ATN HLDG A ATN HLDG B 0.62 0.65 0.63 0.68 0.62 0.62 340000 218820 4.93 5 4.9 5 4.9 4.93 1751000 8630370 COSCO CAPITAL DMCI HLDG 3.47 3.48 3.48 3.56 3.48 3.48 8273000 28878440 8.21 8.43 8.25 8.25 8.25 8.25 1000 8250 FILINVEST DEV GT CAPITAL 425 425.4 424.6 430 423 425 101420 43120464 3.02 3.09 3.16 3.16 3.15 3.15 9000 28400 HOUSE OF INV JG SUMMIT 63.05 63.1 62.25 63.15 62.25 63.1 1307830 82293773.5 0.56 0.59 0.61 0.61 0.56 0.58 388000 223930 LODESTAR LOPEZ HLDG 2.35 2.45 2.39 2.45 2.33 2.45 1872000 4446410 7.38 7.39 7.36 7.4 7.29 7.39 415500 3059055 LT GROUP MJC INVESTMENTS 1.85 2.03 1.86 1.86 1.85 1.85 6000 11150 3.16 3.18 3.09 3.18 3.03 3.18 13121000 40929080 METRO PAC INV PRIME MEDIA 0.73 0.78 0.8 0.8 0.78 0.78 11000 8600 898 900 905 907.5 870 900 445190 397942530 SM INVESTMENTS SAN MIGUEL CORP 98.4 98.5 98.5 98.5 97.55 98.4 165360 16203911 0.65 0.69 0.72 0.72 0.65 0.65 23000 15440 SOC RESOURCES TOP FRONTIER 121.9 124 120 124 120 124 1990 245454 0.147 0.15 0.15 0.15 0.147 0.147 160000 23850 ZEUS HLDG

-46450 9594 -26425195 4660110 -13702147 314399.9997 -304980 -20137330 23857024 -28400 308164 217200 1002386 5229670 190559705 4627019.5 -

PROPERTY ARTHALAND CORP 0.5 0.51 0.5 0.51 0.5 0.5 568000 288910 8.15 8.79 8.15 8.15 8.15 8.15 200 1630 ANCHOR LAND AYALA LAND 32.7 33.25 32.15 33.25 31.5 33.25 5891300 192438105 0.99 1 0.99 0.99 0.99 0.99 57000 56430 ARANETA PROP BELLE CORP 1.34 1.37 1.37 1.37 1.37 1.37 6000 8220 0.76 0.77 0.71 0.77 0.71 0.76 1369000 1031030 A BROWN CITYLAND DEVT 0.74 0.78 0.74 0.74 0.74 0.74 26000 19240 0.121 0.123 0.12 0.127 0.12 0.121 4400000 540020 CROWN EQUITIES CEB LANDMASTERS 5.02 5.05 5 5.05 5 5.05 1309700 6591824 0.35 0.365 0.36 0.365 0.355 0.355 3270000 1173550 CENTURY PROP DOUBLEDRAGON 16.1 16.26 16.02 16.26 16.02 16.1 119300 1924118 6.1 6.2 6.11 6.15 6.1 6.1 604200 3685781 DM WENCESLAO EMPIRE EAST 0.245 0.246 0.243 0.249 0.241 0.246 480000 116570 0.091 0.093 0.093 0.093 0.093 0.093 10000 930 EVER GOTESCO FILINVEST LAND 0.85 0.86 0.85 0.88 0.84 0.85 27856000 23676500 0.79 0.8 0.79 0.8 0.79 0.79 332000 264730 GLOBAL ESTATE 8990 HLDG 8.35 8.45 8.4 8.63 8.35 8.45 25200 213280 0.83 0.84 0.88 0.89 0.83 0.83 2512000 2139930 PHIL INFRADEV MEGAWORLD 3 3.03 3.01 3.04 2.98 3 14357000 43066010 0.212 0.213 0.215 0.228 0.21 0.212 124040000 27200240 MRC ALLIED PHIL ESTATES 0.29 0.3 0.29 0.29 0.29 0.29 30000 8700 15.72 16 15 16.3 14.86 16 3686200 57407312 ROBINSONS LAND SHANG PROP 2.65 2.69 2.68 2.69 2.65 2.65 42000 112460 1.78 1.85 1.81 1.86 1.81 1.86 5000 9220 STA LUCIA LAND SM PRIME HLDG 30.5 30.55 31 31.05 30.3 30.5 4414200 134848415 3.87 3.94 4 4 3.87 3.97 8000 31310 VISTAMALLS SUNTRUST HOME 1.16 1.17 1.2 1.2 1.14 1.17 1634000 1896950 3.06 3.07 3.12 3.26 3.03 3.06 6391000 19696990 VISTA LAND

1630 -16289285 -15200 11100 1283126 -4354390 -73315 -11404380 -396680 2010224 -1860 -41699965 1586800

SERVICES ABS CBN 7.55 7.68 7.6 7.75 7.5 7.55 313000 2374215 5.28 5.29 5.4 5.41 5.22 5.28 1470100 7755041 GMA NETWORK MANILA BULLETIN 0.38 0.385 0.38 0.38 0.38 0.38 90000 34200 2020 2022 2000 2026 1991 2020 20385 41040205 GLOBE TELECOM PLDT 1316 1318 1301 1319 1300 1316 63620 83595190 0.047 0.049 0.048 0.049 0.048 0.049 600000 29000 APOLLO GLOBAL DFNN INC 2.74 2.8 2.72 3 2.72 2.74 78000 219390 2.66 2.67 2.7 2.73 2.6 2.66 24280000 64829550 DITO CME HLDG IMPERIAL 1.12 1.33 1.29 1.29 1.26 1.27 28000 35670 0.069 0.074 0.069 0.069 0.069 0.069 70000 4830 ISLAND INFO JACKSTONES 1.61 1.65 1.6 1.6 1.58 1.58 5000 7940 2 2.01 2.09 2.1 1.97 2 4869000 9791710 NOW CORP TRANSPACIFIC BR 0.169 0.171 0.172 0.174 0.168 0.17 3480000 592030 1.8 1.82 1.84 1.85 1.79 1.8 500000 904070 PHILWEB 2GO GROUP 8.1 8.18 8.1 8.15 8.1 8.12 33900 274796 15.24 16.76 15.24 15.24 15.24 15.24 100 1524 ASIAN TERMINALS CHELSEA 3.28 3.36 3.32 3.38 3.24 3.28 355000 1169850 37.3 37.35 37.2 37.5 37.15 37.35 180400 6732225 CEBU AIR INTL CONTAINER 96.1 97.2 97 97.8 95.65 97.2 293600 28504500 13.9 14 14.2 14.2 13.52 13.9 4300 60154 LBC EXPRESS LORENZO SHIPPNG 0.71 0.78 0.71 0.71 0.7 0.7 38000 26720 5.01 5.02 5.1 5.1 4.91 5.01 1296500 6470821 MACROASIA METROALLIANCE A 1.71 1.72 1.62 1.71 1.45 1.71 1659000 2743960 1.72 1.99 2.2 2.53 1.65 1.65 19000 42500 METROALLIANCE B PAL HLDG 6.12 6.39 6.12 6.12 6.12 6.12 33400 204408 0.76 0.77 0.78 0.78 0.77 0.77 278000 214140 HARBOR STAR BOULEVARD HLDG 0.03 0.031 0.028 0.031 0.027 0.03 183300000 5365100 1.57 1.79 1.58 1.58 1.56 1.56 10000 15640 DISCOVERY WORLD 0.365 0.37 0.365 0.37 0.365 0.37 1260000 460000 WATERFRONT STI HLDG 0.295 0.3 0.295 0.295 0.29 0.295 2060000 602800 2.11 2.17 2.12 2.18 2.12 2.17 29000 61990 BERJAYA BLOOMBERRY 6.3 6.39 6.29 6.39 6.2 6.3 12729400 80043345 1.16 1.2 1.18 1.2 1.13 1.16 539000 636200 LEISURE AND RES PH RESORTS GRP 2.2 2.3 2.2 2.3 2.2 2.3 9000 20050 0.295 0.3 0.3 0.3 0.295 0.295 670000 198000 PREMIUM LEISURE PHIL RACING 7.61 7.9 7.9 7.9 7.9 7.9 250000 1975000 6.79 6.8 6.8 7 6.75 6.8 188200 1280945 ALLHOME METRO RETAIL 1.41 1.45 1.4 1.43 1.4 1.42 591000 833170 48.45 48.5 47.5 49.45 46.7 48.5 2763200 133246825 PUREGOLD ROBINSONS RTL 60 60.15 59.6 60.95 59.35 60 1114460 66824625.5 125 125.9 125.9 125.9 125 125 41660 5207509 PHIL SEVEN CORP SSI GROUP 1.06 1.08 1.08 1.08 1.05 1.06 1645000 1762140 14.98 15.5 14.7 15.5 14.7 15.5 1699000 25815752 WILCON DEPOT APC GROUP 0.305 0.315 0.31 0.32 0.31 0.315 1010000 316550 6.27 6.43 6.19 6.45 6.19 6.43 14800 93204 EASYCALL IPM HLDG 4.01 5 4.3 4.3 4.01 4.01 3000 12610 0.219 0.22 0.224 0.225 0.219 0.219 1320000 290080 PRMIERE HORIZON SBS PHIL CORP 4.09 4.5 4.01 4.5 4.01 4.5 9000 37760

16030505 -39251215 13750 -5456630 4140 -334930 -8110 -1923590 -5193078.5 -14200 878644.9998 -2800 -6295107 -305085 -11786630 -50812000.5 83750 -299080 9255916 -

MINING & OIL

ATOK 7.71 8.24 8.25 8.25 7.66 8.24 700 5596 APEX MINING 1.45 1.46 1.5 1.5 1.43 1.45 5734000 8359570 27710 0.0008 0.0009 0.0008 0.0009 0.0008 0.0008 54000000 43600 3200 ABRA MINING ATLAS MINING 2.6 2.64 2.62 2.65 2.6 2.65 100000 260440 -28620 1.92 1.97 2.04 2.04 1.8 1.97 119000 236290 BENGUET A BENGUET B 1.83 1.96 1.99 1.99 1.99 1.99 1000 1990 0.195 0.209 0.199 0.21 0.196 0.209 900000 179510 39800 COAL ASIA HLDG CENTURY PEAK 2.63 2.65 2.6 2.7 2.6 2.7 203000 543400 7.38 7.49 7.5 7.5 7.37 7.5 3300 24620 DIZON MINES FERRONICKEL 1.05 1.06 1.08 1.08 1.03 1.06 8228000 8640900 242010 0.23 0.232 0.243 0.243 0.23 0.232 930000 215890 GEOGRACE LEPANTO A 0.147 0.149 0.15 0.157 0.144 0.147 111840000 16843910 0.146 0.147 0.153 0.156 0.144 0.147 13500000 2001130 -191380 LEPANTO B MANILA MINING A 0.009 0.0094 0.0099 0.01 0.0088 0.009 150000000 1378300 0.0098 0.01 0.01 0.011 0.0099 0.0099 20700000 207090 -4000 MANILA MINING B MARCVENTURES 0.76 0.79 0.84 0.84 0.72 0.79 1804000 1383760 47040 1.33 1.35 1.4 1.4 1.33 1.35 308000 415270 NIHAO NICKEL ASIA 2.42 2.43 2.54 2.54 2.38 2.42 22273000 54769030 1047400 0.37 0.38 0.375 0.38 0.365 0.37 1630000 607900 OMICO CORP ORNTL PENINSULA 0.55 0.56 0.59 0.59 0.53 0.57 5246000 2891770 3.14 3.15 3.27 3.27 3.1 3.15 2107000 6653110 50750 PX MINING SEMIRARA MINING 9.9 9.98 9.81 10.24 9.8 9.9 8923800 89317057 -16918282 0.0052 0.0053 0.0059 0.006 0.0051 0.0052 126000000 670000 UNITED PARAGON ACE ENEXOR 5.71 5.84 5.8 5.84 5.8 5.84 2700 15700 0.0079 0.008 0.0079 0.0079 0.0079 0.0079 5000000 39500 PHILODRILL PXP ENERGY 5.64 5.65 5.67 5.67 5.53 5.64 368900 2064376 -432665

PREFFERED HOUSE PREF A 100.5 102.5 100.5 100.5 100.5 100.5 110 11055 504 511 511 511 503.5 503.5 1010 509400 AC PREF B2R CPG PREF A 100.5 101 100.5 100.5 100.5 100.5 1000 100500 101.2 101.4 102 102 101 101.4 31390 3179084 DD PREF FGEN PREF G 106.1 108.9 107 107 106.1 106.1 5550 589035 1000 1010 1000 1000 999 999 1000 999100 GTCAP PREF A GTCAP PREF B 1012 1020 1012 1012 1012 1012 1000 1012000 101.1 101.5 101.5 101.5 101.5 101.5 26890 2729335 MWIDE PREF PNX PREF 3B 106.8 108 106.8 106.8 106.8 106.8 440 46992 1039 1050 1050 1050 1050 1050 10 10500 PCOR PREF 2B PCOR PREF 3A 1055 1059 1055 1055 1055 1055 10 10550 1090 1100 1090 1100 1090 1100 1065 1170850 PCOR PREF 3B SMC PREF 2C 78.5 78.75 78.5 78.5 78.4 78.4 320 25118 77.5 77.95 77.5 77.5 77.5 77.5 650000 50375000 SMC PREF 2F SMC PREF 2I 78.3 78.9 77.8 78.3 77.8 78.3 3500 272550

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 7.08 7.2 7.09 7.44 7.08 7.2 1596700 11488772 64472 5 5.09 5 5.1 5 5.08 16000 81150 GMA HLDG PDR

WARRANTS LR WARRANT 0.62 0.68 - - - - - -

SMALL & MEDIUM ENTERPRISES ALTUS PROP 13.1 13.2 12.98 13.56 12.7 13.1 1078800 14295268 -3804902 1.74 1.75 1.68 1.75 1.65 1.74 2456000 4219030 -325530 ITALPINAS KEPWEALTH 5.33 5.35 5.15 5.33 5.14 5.33 24800 129821 2.58 2.59 2.47 2.59 2.46 2.59 35947000 90869460 -264410 MERRYMART XURPAS 0.56 0.57 0.55 0.57 0.55 0.56 591000 331220

EXHANGE TRADE FUNDS

FIRST METRO ETF 90.5 90.55 91 91 89.95 90.55 12990 1174657.5 14488

www.businessmirror.com.ph

First Gen sets capex for gas business, geothermal unit

F

By Lenie Lectura

@llectura

irst Gen Corp. said it is setting aside capital expenditures (capex) of $128.3 million and P7 billion to P8 billion next year for its gas business and geothermal unit, respectively.

During the company’s annual meeting held Wednesday, First Gen President Francis Giles Puno said about $110 million is allotted for its planned LNG (liquefied natural gas) terminal, $18.3 million for its existing gas plants and P7 billion to P8 billion for its geothermal business under company subsidiary Energy Development Corp. (EDC).

“The main driver of our capex is the LNG terminal, which has a total project cost of $200-$400 million.

We expect to spend $60 million in 2020 and $110 million in 2021 for the LNG terminal,” said Puno.

First Gen filed last March with the Department of Energy (DOE) an application for a regulatory permit for the construction of its offshore terminal for LNG within its energy

complex in Batangas City.

“We applied our permit to construct, expand rehabilitate and modify application with the DOE in March and are currently awaiting approval. We are hoping to start construction in the second half of this year,” said Puno.

The project, once completed, will bring in an interim floating storage and regasification unit (FSRU), which represents the initial phase of the FGEN Batangas LNG Terminal.

“The Covid-19 situation will most likely impact the global supply chain which could lead to some delays in the manufacturing of equipment, but we are looking to start construction by this quarter,” added Puno.

First Gen already operates four gas-fed power plants with an aggregate capacity of about 2,000megawatts (MW). These are the 1,000MW Santa Rita, 500-MW San Lorenzo, 414-MW San Gabriel and 97-MW Avion.

“For the gas group, the total capex for 2020 is $20 million and $18.3 million for 2021,” he said.

The LNG project will play a critical role in ensuring the energy security of the country as the gas from the Malampaya facility is expected to be less reliable in producing and providing sufficient fuel supply for the country’s existing gas- fired power plants, and even less so for additional gas-fired power plants.

The gas contracts inked between the Malampaya consortium and the gas power plants will expire in 2021.

EDC, meanwhile, has set aside P7 billion to P8 billion in capex this year.

Puno said the same amount would be allotted for next year’s capex.

“For EDC, the intention is to maintain capital expenditures as planned at P7 to P8 billion annually in 2020 and 2021.

However, the Covid-19 situation challenges our ability to execute, given various levels of quarantine

across our sites. We have a plan in place to recover and to ramp up activities quickly once delivery of materials and mobilization of manpower can resume,” said Puno.

First Gen said demand for electricity has slowed down since the government imposed the community quarantine. It is, however, optimistic that demand will recover soon.

The company also noted that delays in the power projects could tighten power reserves.

“Construction of power projects may have already been delayed due to constraints in manufacturing and shipment due to global impacts of the pandemic,” it said.

“Our power reserves could tightenin the next 3-4 years and it is imperative that the government and private sectors attend to balancing the interests of both electricity consumers and power producers, ensuring that we continue to address the energy trilemma of the country.”

Energy trilemma refers to energy security, energy equity and environmental sustainability. Balancing the energy trilemma is one of the sustainability goals set by the United Nations.

Nlex Corp. to reopen Bulacan interchange

By Lorenz S. Marasigan @lorenzmarasigan

N

lex Corp. said on Wednesday it is reopening to the public the Philippine Arena Interchange in Bocaue, Bulacan starting August 1, after being closed for the exclusive use of the quarantine facility in the area.

The company said it will also deploy RFID installation sites in the area to promote cashless transactions, which is deemed safer than cash-based toll collection payments due to the Covid-19 pandemic.

Cash-paying motorists who will pass through the road will be required to sign up for an RFID account and have the RFID installed on their vehicles before entry/exit.

“The interchange is surrounded

by a mega quarantine facility, a prospective terminal for northern provincial buses—both are inside the Philippine Arena complex, and a molecular testing laboratory located at the western portion,” Nlex Corp. President Luigi L. Bautista said.

“For everyone’s safety, we are implementing the RFID-only policy at the interchange. This would ensure physical distancing through cashless payments.”

Using contactless payments systems is in line with the directive of the Department of Transportation (DOTr), he added.

“We are committed to provide our customers with safer and innovative payment solutions such as the RFID. We have several installation sites within the

Lao Foundation, SCG unit donate isolation capsule

L

ao Foundation, the corporate social responsibility arm of D and L Industries Inc. (DNL), said it has partnered with the local business unit of Thailand’s SCG International Corp. (Philippines) Inc. to donate protection equipment exclusively developed by SCG for healthcare workers.

The two groups donated equipment called “patient isolation capsule.” Officials of SCG and the Lao Foundation formally turned over the first-ever isolation capsule to the officers of Ospital ng Muntinlupa.

The said equipment is designed to protect medical personnel transporting persons who are under investigation and those involved in the management of Covid-19 patients. The $5,000 tube speciallybuilt by the Thai manufacturing giant arrived in the country last July 13.

The capsule has open-close slots around the patient, making it easy for doctors and nurses to perform necessary emergency medical procedures for Covid-19 patients.

It is also equipped with powerful air filters to prevent possible airborne virus transmission from

the patients.

The Lao Foundation was founded in 2010 with thrusts in education, values formation, and livelihood. The DNL group of companies earlier allotted P100 million in financial support for its employees and for donations to various communities and institutions as part of its efforts to join the nation’s fight against Covid-19.

Through the Lao Foundation, the company has given financial assistance of P15,000 to 99 families in communities where DNL operations are located.

The foundation has also set aside an initial budget of P5 million to extend assistance to various institutions.

Personal protective equipment, such as masks, goggles, as well as alcohol and other sanitation chemicals, have been donated by the group to various hospitals.

SCG International Corp. Co. Ltd. has 21 global business offices covering strategic markets worldwide, serving 2,000 corporate customers in more than 50 countries. Its local unit was established in 2005, with commodities trading as its major business. VG Cabuag

expressway and even offer 24/7 RFID installation for those who are not available during specified business hours.”

The reopening of Philippine Arena Interchange complements the

mutual funds

recent opening of Tambobong Interchange. Both are vital in the decongestion of Bocaue Interchange and in easing mounting traffic along Governor F. Halili Road in Bocaue-Sta.Maria corridor.

July 29, 2020

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 194.96 -28.23% -11.19% -5.9% -22.59% ATRAM Alpha Opportunity Fund, Inc. -a 0.9862 -40.6% -14.95% -6.76% -28.64% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.6167 -38.01% -15.81% -8.37% -28.86% Climbs Share Capital Equity Investment Fund Corp. -a 0.6687 -32.05% n.a. n.a.

-25.53% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6454 -28.44% n.a. n.a.

-24.01% First Metro Save and Learn Equity Fund,Inc. -a 4.187 -25.45% -9.75% -5.6% -21.42% First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.6578 -27.22% -12.12% n.a.

-22.94% MBG Equity Investment Fund, Inc. -a 77.57 -35.81% n.a. n.a.

-24.85% PAMI Equity Index Fund, Inc. -a 39.1022 -27.5% -9.8% -4.94% -23.75% Philam Strategic Growth Fund, Inc. -a 420.55 -25.21% -9.01% -5.09% -21.06% Philequity Alpha One Fund, Inc. -a,d,5 0.8531 n.a. n.a. n.a.

-17.18% Philequity Dividend Yield Fund, Inc. -a 0.9917 -27.43% -9.36% -4.73% -22.94% Philequity Fund, Inc. -a 29.1782 -27.18% -8.9% -4.43% -23.01% Philequity MSCI Philippine Index Fund, Inc. -a 0.7728 -28.21% n.a. n.a.

-24.09% Philequity PSE Index Fund Inc. -a 3.982 -27.25% -9.29% -4.24% -23.77% Philippine Stock Index Fund Corp. -a 666.87 -27.04% -9.25% -4.41% -23.52% Soldivo Strategic Growth Fund, Inc. -a 0.6011 -37.52% -13.28% -8.56% -29.4% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.0843 -31.12% -10.68% -5.59% -26.72% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.7646 -27.18% -9.43% -4.41% -23.6% United Fund, Inc. -a 2.8042 -27.03% -8.12% -3.94% -23.24% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 89.5313 -26.83% -8.77% -3.6% -23.45% Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b

$1.0352 4.38% 0.03% 1.56% 0.66% Sun Life Prosperity World Voyager Fund, Inc. -a $1.4514 9.45% 6.84% n.a.

5.27% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.5506 -13.11% -4.76% -3.63% -0.78% ATRAM Philippine Balanced Fund, Inc. -a 2.0354 -14.06% -5.23% -2.14% -6.68% First Metro Save and Learn Balanced Fund Inc. -a 2.3888 -11.98% -3.75% -3.18% -9.22% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1833 n.a. n.a. n.a.

-19.78% NCM Mutual Fund of the Phils., Inc. -a 1.8273 -7.37% -1.73% -0.49% -6.85% PAMI Horizon Fund, Inc. -a 3.4599 -9.82% -2.97% -1.68% -8.69% Philam Fund, Inc. -a 15.4163 -10.71% -3.27% -1.85% -9.11% 1.9001 -13.24% -4.32% -1.7% -10.46% Solidaritas Fund, Inc. -a Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.241 -18.47% -5.52% -3.02% -16.11% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9333 -10.47% n.a. n.a.

-8.11% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.8307 -20.29% n.a. n.a.

-16.63% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.8045 -22.55% n.a. n.a.

-19% Sun Life Prosperity Dynamic Fund, Inc. -a 0.7961 -21.9% -6.58% -4.22% -18.33% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03926 4.69% 3.1% 2.03% 2.77% $1.0238 1.65% 0.66% 1.75% 1.17% PAMI Asia Balanced Fund, Inc. -b Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.0282 5.76% 4.91% 4.4% 3% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.1481 3.17% 2.76% n.a.

1.72% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 367.34 4.4% 3.2% 2.6% 2.63% ATRAM Corporate Bond Fund, Inc. -a

1.9462 2.2% 0.97% -0.06% 2.32% Cocolife Fixed Income Fund, Inc. -a 3.197 4.41% 5.05% 5.06% 2.54% Ekklesia Mutual Fund Inc. -a 2.3039 4.72% 3.06% 2.4% 3.62% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4541 5.41% 3.48% 2.01% 4.03% 4.6646 10.07% 4.59% 2.83% 6.67% Philam Bond Fund, Inc. -a Philam Managed Income Fund, Inc. -a,6 1.3037 6.5% 4.24% 2.34% 3.74% Philequity Peso Bond Fund, Inc. -a 3.9638 7.01% 4.47% 2.38% 4.64% Soldivo Bond Fund, Inc. -a 1.0388 9.97% 3.81% 1.94% 7.73% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1794 6.28% 4.87% 2.97% 3.37% Sun Life Prosperity GS Fund, Inc. -a 1.746 5.1% 4.24% 2.4% 2.64% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $476.77 3.58% 2.56% 2.79% 1.8% ALFM Euro Bond Fund, Inc. -a Є216.44 -1.09% 0.71% 1.06% -1.52% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2371 4.22% 2.75% 2.48% 3.18% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0263 2.33% 1.84% 1.51% 1.94% PAMI Global Bond Fund, Inc -b $1.0848 -0.2% 0.27% 0.37% -0.8% Philam Dollar Bond Fund, Inc. -a $2.4934 5.91% 3.79% 3.41% 3.74% Philequity Dollar Income Fund Inc. -a $0.0608854 2.48% 2.06% 1.92% 0.97% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.2291 4.45% 2.32% 2.69% 1.7% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 128.56 3.67% 3.27% 2.47% 2.17% First Metro Save and Learn Money Market Fund, Inc. -a 1.0431 2.56% n.a. n.a.

1.64% Sun Life Prosperity Money Market Fund, Inc. -a 1.2856 2.98% 3.04% 2.59% 1.63% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0464 1.62% n.a. n.a.

0.78% Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 1.006 n.a. n.a. n.a. n.a.

Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $0.94 n.a. n.a. n.a.

-5.05%

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

1 - Launch date is September 28, 2019. 2 - Launch date is November 15, 2019. 3 - Adjusted due to stock dividend issuance last October 9, 2019.

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

6 - Re-classified into a Bond Fund starting February 21, 2020 (Formerly a Money Market Fund). 7 - Launch date is July 6, 2020.

"While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www.

pifa.com.ph to see the latest NAVPS/NAVPU."

Editor: Eleanor Leyco-Chua

Health&Fitness BusinessMirror

Thursday, July 30, 2020 B3

Pinoy’s 5 major skin Survey reveals Filipinos need answered problems to close nutrition knowledge gap

O

nly 19 percent of Filipino consumers got 50 percent of the answers correct in a general nutrition knowledge quiz conducted by premier global nutrition company Herbalife Nutrition. The Philippines’s score was lower than the Asia-Pacific (Apac) average of 23 percent.

The quiz was administered as part of Herbalife Nutrition’s Asia Pacific Nutrition Myths Survey 2020, which was conducted in March with 5,500 respondents from Australia, Hong Kong, Indonesia, Japan, Korea, Malaysia, the Philippines, Singapore, Taiwan, Thailand and Vietnam. To test the nutrition knowledge of the survey participants, the quiz included a total of 48 “True or False” questions spanning nine nutrition areas—general nutrition, protein, carbohydrates, fats, vitamins, minerals, caffeine, weight management and breakfast.

“The results of the quiz and the survey show that there is a significant nutrition knowledge gap among Filipinos. We hope to help close the gap to empower them with the nutrition knowledge they need to make better nutrition choices,” said Sridhar R ajagopalan, Senior Director,

Sub-Region Head, and General Manager of Herbalife Nutrition Philippines.

Only 7 percent among those surveyed said that they were extremely confident about their nutrition knowledge. Fifty-four percent claimed that they were only somewhat well-informed.

Filipino consumers, however, expressed that they believe in the importance of balanced nutrition.

It is among the top 3 nutrition advice that they were most interested in along with how to improve ailment/condition through nutrition and managing weight through nutrition.

“This is a good sign, so the next step is helping them achieve this,” Rajagopalan said.

What Filipinos got right and wrong about nutrition knowledge Majority of the Filipino respon-

Dr. Chin Kun-Wang, member, Nutrition Advisory Board, Herbalife Nutrition

dents (85 percent) falsely believe that one needs sufficient calcium intake at any age to optimize peak bone mass for bone health.

“Our peak bone mass [max bone size and strength] is dependent on calcium intake and reaches its peak by age 30. However, sufficient calcium intake throughout life can reduce the risk of osteoporosis,” Rajagopalan said.

When it comes to fats, 68 percent got it right that fats provide the body with energy but only 42 percent correctly believed that it helps the body absorb vitamins.

Eighty percent correctly said that exercise helps the body rebuild muscles and increase lean

Pink Cunning Thoughts

By Eleanor A. Leyco-Chua

Thank you and see you around

I

ndeed, we cannot fathom the ways of our Lord and for countless times I was amazed how God led me to a lot of amazing opportunities that I never really asked for, and one of those was the chance to be a part of a promising business newspaper in the country.

I cannot really remember the exact date and time when I officially held the editorial post of Health&Fitness Magazine but I can vividly recall all the good memories, the learnings, and the experiences that I have mustered in the last eight years.

I can say that I didn’t have enough experience to do newspaper works since I only had a short stint as a Deskman at the Daily Tribune when I was 22 years old, a year after I graduated from college. I stayed for less than a year then decided to put up my own small PR firm.

I was brave to take the risks of being unemployed while establishing my small business, which was a “one-woman show.” From writing and sending proposals to presentations, to client servicing, and to media-relations, I did everything alone!

At that time, I didn’t really understand the works of a publicist, with God’s grace and mercy I was able to close accounts from SMEs and even multinational companies. Also, I never had a solid contact in the media, I was never a chikadora but I am grateful to have known and met a number of respectable editors from different newspapers whom I really can call as friends, and until now they are still helping me with some projects.

After several years of doing PR, an opportunity to learn, and better my skills as a journalist came. Marvin, who was my former officemate at the Dailty Tribune told me if I was interested to become the editor of BusinessM irror ’s Health&Fitness Magazine. It was a great offer since I was looking for a new avenue where I can learn new things, and after meeting the publisher of BusinessMirror, my

journey as the editor of HNF began.

I am greatly thankful to the Cabangon family especially to our Publisher T. Anthony C. Cabangon for accepting me to his company, to the VP of Advertising Marvin Estigoy for recommending me to the post and to all the kind editors of BusinessMirror, especially to our Editor in chief Chuchay Fernandez who has always been kind and understanding. To all the contributors, columnists, proofreaders, layout artists specially to Loreine Galang and Ed Davad, our creative director.

To the past and present account managers of HNF and to all the people in the Businessmirror whom I can always claim as good friends, thank you for the wonderful years.

I have learned so much from this journey and through the many interviews I had with owners, presidents, and executives of many small and big companies, the knowledge you have shared during our short meetings contributed to what I have achieved and will achieve in the near future.

And to all the advertisers of HNF, thank you so much for your trust and for the brilliant ideas that you have been sharing with the HNF team. My gratitude also goes to all the PR agencies and consultants who have provided us good stories to share.

As I leave my post, I want to share also how God moves in the life of people who put their trust in Him. This is not goodbye since I am not leaving the media industry, I will still write for HNF, and next month, the new family who embraced me in their company will launch the newest cable TV in Southern Tagalog—EXPTV Channel 80, and I am honored to be chosen as one of its executives and I was given the chance to produce my own TV show. Again, this is another way how the Lord surprises me with His great provision and blessing.

Again, thank you so much and may the Lord continue to bless the work of our hands.

muscles. However, 51 percent falsely believe that protein powder is not a healthy source of protein as compared to protein found in natural foods.

“Protein powder can be as good as protein from natural foods if derived from high-quality sources. For instance, soy protein from soybeans is a complete protein, providing a full range of nine essential amino acids for the body’s nutrition requirements,” Rajagopalan added.

Ninety-four percent of the Filipino consumers were right in their belief that fruits and vitamin C supplements can help boost immunity and resistance to infection.

Among the Apac respondents, they were the highest in this belief.

Online myths and misinformation: top barrier to gaining accurate nutrition knowledge While 47 percent of Filipino consumers believed that it is extremely important to be educated with proper and accurate nutrition knowledge, they also said that too much misinformation and myths online prevent them from gaining accurate nutrition knowledge (39 percent).

The other top barriers were lack of information from government web sites and health authorities (22 percent) and the lack of information from health-care professionals (17 percent).

M

ajority of Asians experience five major skin problems due to their adaptation to their climate and the pigment composition of their skin, surveys have shown. Because of this Asians need different skin-care regimens.

And among Asians, Filipinos, both men and women suffer from these five common skin conditions; however, most of the soaps marketed in the country are for skin lightening while discounting the real skin concerns of the consumers.

Diwatang Maria, the newest beauty bar soap in the country today features three soap variants that address Pinoy skin concerns while boasting of its premium quality ingredients.

Aside from the fact that Diwatang Maria soaps are 100 percent organic, the three variants—Diwatang Maria Makiling, Diwatang Maria Sinukuan and Diwatang Maria Cacao contain combinations of premium-grade organic ingredients that are best for several skin problems.

Ma. Concepcion Macalintal, President and CEO of Diwatang Maria said that before she decided to finally take this journey of manufacturing and distributing beauty soaps she noticed that most of the soaps available in the country are mostly for lightening. “The shelves in the supermarkets and grocery stores are already full of different skin lightening soap and this is the reason we made Diwatang Maria not just for skin lightening but to really address what Filipino skin needs.”

According to Macalintal the five most common skin conditions among Pinoys are sensitivity or prone to pimples and acne, dark spots, oiliness, dry skin that lacks radiance, and hyperpigmentation. “These are the skin problems that Diwatang Maria would like to answer so we combined premium quality organic ingredients that will not only lighten the skin but treats several skin issues,” Macalintal noted.

Macalaintal also added that they are using virgin coconut oil as the soap base of Diwatang Maria, and by doing this, consumers, can enjoy the benefits of VCO. “I personally make sure that each variant contains enough of the primary ingredients to ensure that our consumers will enjoy the results that we promise.”

Papaya enzymes and kojic for pimples, dark spots and hyperpigmentation

Combining the power of kojic acid, papaya enzyme and aloe vera guarantee impressive results in just a couple of weeks. Kojic Acid and papaya enzymes are known effective skin lightening agents and they also help in controlling the oiliness of the skin, thus, treat pimples and acne.

Kojic acid is also known for improving the appearance of melasma and hyperpigmentation.

Those who have tried other soaps with kojic acid usually complain about itchiness.

To address this concern Macalintal shared that by adding aloe vera in the ingredients of Diwatang Maria Makiling it helps soothe or prevent itching of the skin. “Our customers who have tried Diwatang Maria Makiling can attest to its efficacy in lightening the skin and the soothing effect of aloe vera.”

Diwatang Maria also has its signature scent derived from orange’s essential oil.

Oatmeal kernel for sensitive skin that lacks radiance

This variant is gaining popularity not only for its benefits on the skin but for its lavander scent, which has calming effect.

Enriched with glutathione, kojic acid and papaya enzyme, Diwatang Maria Sinukuan will surely make your skin glow and best for sensitive skin because it contains glutathione, which is a known a powerful antioxidant that can help prevent inflammation.

Infused with oatmeal kernel, Diwatang Maria Sinukuan also helps in removing excess oil and dead skin cells, thus, leaving the skin radiant and glowing. Because of the anti-inflammatory properties of oatmeal and glutathione this soap variant is best for people whose skin reacts easily to dirt, dust, bacteria and chemicals.

Cacao for dry dull skin

Not all people want to have fairer skin, there are many Pinoys and Pinays who embrace their morena complexion, and this is the reason Macalintal designed Diwatang Maria Cacao variant.

This chocolate-scented soap will give your skin the moisture and radiance it needs with the skin enhancing and anti-aging benefits from oatmeal kernel, colloidal oatmeal, and shea butter. These ingredients help our skin to maintain and stimulate collagen production. Together with aloe vera, Diwatang Maria Cacao can help the skin restores elasticity while fighting inflammation and free radicals with every bath.

According to Macalintal all Diwatang Maria products are paraben-free, and free of other harmful ingredients. “Our soaps are organic and very safe on the skin as they contain no chemical, everything that we used to form every soap is from natural ingredients and of premium quality.”

Diwatang Maria is very proud to be known as a Filipino brand, that provides premium quality organic soaps, and advocates eco-friendly products. Diwatang Maria is available in Lazada and Shoppee. For more information check http:// www.diwatangmaria.com. Follow and like on FB: www.facebook.com/diwatangmariaph/. Instagram: diwatangmariaph.

Sarah G gets new and trusted partner for boosting her immunity

S

he is known as the country’s Popstar Royalty with a very large and loyal fan base. Even if she is busy with her showbiz commitments, Sarah Geronimo-Guidicelli makes sure that she closely monitors her health and that she takes her vitamin C every day.

Now that Sarah has settled down and is ready to start her own family, she knows that she has to prioritize her and her family’s immunity in these unprecedented times.

Geronimo-Guidicelli has found a new partner in strengthening her immunity as she is the new celebrity endorser of Fern C. “Inferness, Fern C is a big help for me because most of the time, I leave the house without eating breakfast,” Geronimo-Gudicellirelated. “Fern C is sodium ascorbate, so I can take it even on an empty stomach without having to worry about getting the acidic side effect.”

Fern C is the No.1 sodium ascorbate brand that can up our immunity without the acidity caused by certain Vitamin C brands. It is an immune system booster, an anti-oxidant, and increases resistance to infectious diseases without the acidic side effect. This non-acidic form of vitamin C also means that more people can take Fern-C anytime even on an empty stomach.

“Sarah is the perfect celebrity endorser of Fern-C because she is the embodiment of a successful and busy person who wants to always boost her immunity by taking FernC,” said Sharmaine Abarientos, the General

Manager of STADA. “Both Sarah and FernC are the best in their fields because they are both established and have the desire to help more people improve their health and well-being.”

In addition to having a new celebrity endorser, Fern-C is now being manufactured by STADA. STADA, a German pharmaceutical company, is a trusted and reliable partner in Europe for more than 120 years. It is a leading manufacturer of high-quality pharmaceuticals with a longstanding heritage rooted in pharmacies. Its goal is to offer quality medicines at reasonable prices across all segments of healthcare—specialty, generics, and consumer health.

As part of their aggressive expansion, the group acquired Fern-C, one of the leading brands in the local Vitamin C market. Worldwide, the STADA Group is represented in more than 30 countries in about 50 subsidiaries. In the Philippines, it is a strong player in the field of Ophthalmology and is poised to expand its footprint in the generics and consumer health business with brands like Oilatum and Zerochol.

“Fern-C will be better than ever under STADA because we will really give the brand the boost it needs in terms of heavier campaign support and greater brand accessibility,” Abarientos said. “Fern C has an established brand heritage and we will be able to develop a strong consumer healthcare platform to launch other quality product as well as to provide better health for all Filipinos.”

B4

Show BusinessMirror

Thursday, July 30, 2020

www.businessmirror.com.ph

Depp’s lawyers play video showing Heard ‘attacked’ sister JOHNNY DEPP arriving at the High Court in London last Tuesday. AP

L

BY PAN PYLAS The Associated Press

ONDON—Amber Heard’s sister denied on Friday that she had lied to a London court after Johnny Depp’s lawyers in his libel suit against a British tabloid presented video footage that they claim showed his ex-wife was violent toward her.

His legal team said they received the video from a “confidential� source on Thursday night, hours after Whitney Henriquez testified in court that she had never been attacked by Heard and that she was not frightened of her.

Depp, 57, is suing News Group Newspapers, the publisher of The Sun, and the newspaper’s executive editor, Dan Wootton, over an April 2018 article that labeled the actor a “wife beater.� Depp has told the court that he was the one abused by Heard and that she had a history of being violent toward him.

The Sun’s defense relies on 14 allegations made by Heard of violence by Depp between 2013 and 2016, in settings as varied as a rented house in Australia, his private island in the Bahamas and a private jet.

The video at the heart of the court proceedings Friday, the final session before the two sides sum up their arguments, was unused reality TV footage from 2006 or 2007, according to Depp’s lawyers, and shows Henriquez by a pool with a group of female friends. One of them is heard saying, “Did you get in a fight or something?� and “I can’t believe Amber beat your ass.� Another appears to inspect Henriquez’s cheek and arm, and Henriquez says she is not going to talk about it.

After viewing the video in court, Henriquez said the argument with her sister had been a “verbal� one and that her friends were “trying to make a very, very boring story more interesting.�

Henriquez also denied that she had any injuries when the video was recorded and said that her friends were “looking for injuries that were not there, trying to create a narrative to make something more interesting, to create something out of nothing,� she said. Depp’s lawyer, David Sherborne, had said earlier that it is “quite clear� that Heard assaulted her sister and that injuries to Henriquez are being examined on the tape.

Henriquez is a crucial witness in the trial as she has alleged to have seen Depp strike her sister. In her testimony on Thursday, Henriquez said Depp hit Heard “multiple times� during an alleged incident at the couple’s Los Angeles apartment in March 2015.

She also said that her sister had punched Depp on that

JESSICA SOHO, host of the toprating Kapuso Mo, Jessica Soho.

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Simon Baker, 51; Terry Crews, 52; Lisa Kudrow, 57; Laurence Fishburne, 59.

HAPPY BIRTHDAY: Separate yourself from the crowd. Don’t labor over what you can’t do or what others are doing; stay focused on what’s best for you and the people who complement your life and goals.

Stop spinning your wheels, and aim for progress. Be passionate, and channel your energy into what counts.

Personal improvements, physical fitness and romance are featured. Your numbers are 4, 12, 22, 28, 30, 37, 42.

ARIES (March 21-April 19): Choose your words carefully, and be sensitive to others’ thoughts and feelings. Getting along and being willing to compromise will alleviate problems with friends, relatives and peers. ★★★★★

TAURUS (April 20-May 20): Consider your options, and discuss your plans with anyone who will be affected by the decision you make. Knowing the repercussions involved will help you ease stress and tension for yourself and those close to you. Don’t take a financial risk. ★★★

GEMINI (May 21-June 20): Keep the momentum going. Look at what’s working best, and proceed with enthusiasm. Make decisions based on facts, not because of emotional ramifications.

Do what’s right, deal with opposition and stay focused on your objective. Romance is on the rise. ★★★

CANCER (June 21-July 22): You may feel like doing things differently, but sticking to methods that have worked well in the past will save you from stress. If you want to do something unique, start a creative project that won’t cost you financially, emotionally or physically. ★★★

occasion but only to defend her because she believed Depp was going to push Henriquez down the stairs.

Depp’s lawyers have said that Henriquez tailored her evidence to meet her sister’s version of events, especially around the “stairs� incident. “Our case is she has lied in order to support her sister on this very important issue as to what happened on the stairs,� Sherborne said.

The court also heard evidence on Friday from Heard’s friend iO Tillett Wright, who said in his witness statement that Depp joked, after a wedding ceremony in the Bahamas, about punching Heard in the face. “The first thing Johnny said to me after the ceremony, as we walked to the reception, was ‘now I can punch her in the face and no-one can do anything about it’,� he said in his statement. “He probably intended it as a joke, but it is only a joke if it’s not real—and by then I knew he was hitting her.�

Heard’s friend Raquel Pennington also told the court Friday that she had seen “gashes� on Heard’s

arms after she returned from Australia in March 2015, and injuries to her nose and scalp after an alleged incident in December 2015. However, Pennington said she had never seen the actor “beat or hit� Heard.

In her four days of testimony this week, Heard, 34, accused Depp of an array of acts of violence, especially when he was allegedly high on drugs or drunk. These included throwing bottles at her “like grenades,� headbutting her and even of stubbing out a cigarette on his cheek. She has claimed that she often feared for her life during their tempestuous relationship.

Depp and Heard met on the set of the film The Rum Diary, released in 2011. Heard filed for a divorce They legally married in Los Angeles in February 2015—and had a second ceremony days later in the Bahamas.

Heard filed for divorce the following year, and it was finalized in 2017.

After 14 days already in court, the case is due to finish this week with closing submissions from both sides’ legal teams on Monday and Tuesday. â–

GMA News, GMA Public Affairs are top PHL online news outlets FURTHER strengthening its reputation as a digital powerhouse, two of GMA’s online platforms—GMA News and GMA Public Affairs—reign as the top news outlets in the Philippines according to Tubular Labs, the leading cross-platform digital video measurement and analytics data solution provider.

Tubular Labs’ June 2020 leaderboard for the News and Politics category showed that GMA News remained as the country’s No. 1 online news video publisher. With 223.7 million views on Facebook and 139.9 million views on YouTube, GMA News is the only Filipino news outlet to make it in the Top 20 worldwide for the month.

Contributing a significant amount of views on GMA News’ Facebook and YouTube pages is the livestream of 24 Oras,

Today’s Horoscope

which is still the most viewed newscast online. Also available for viewing worldwide are “express� versions of GMA’s newscasts 24 Oras, Saksi and Unang Hirit.

In June, GMA News launched an online exclusive show, #BetterNormalPH, hosted by veteran journalist Malou Mangahas, which seeks to explore how Filipinos are adjusting to the new normal brought by the pandemic. GMA News’ original video series are, likewise, going strong—Quarantined with Howie Severino is consistent in bringing in as guests the top newsmakers of the week, while the explanatory journalism Need to Know series continues to shed light on the social and political issues that have surfaced amid the pandemic.

With 219 million views on YouTube and 71.2 million on Facebook, the award-winning

group of GMA Public Affairs emerged as the second top video publisher in the Philippines under the same category.

The Philippines’s leading TV program, Kapuso Mo, Jessica Soho, is among the most-viewed public affairs programs online along with Tadhana, Wish Ko, Lang, i-Witness and Imbestigador.

A substantial number of views for GMA Public Affairs’ Facebook and YouTube accounts also came from its online shows, including Stand For Truth, Frontliners, Fact or Fake, RTx. Survivors, The Better Normal PH, Juan Love, Quarantours, Sumbungan ng Bayan and ECQusina.

Consistently bolstering the network’s digital presence globally is the GMA News and Public Affairs Digital team that handles both accounts.

LEO (July 23-Aug. 22): A routine will encourage you to stay on track. Proper diet and exercise will help you look and feel your best. Listen to your inner voice, not what an outsider tells you. ★★★★★

VIRGO (Aug. 23-Sept. 22): Mixed emotions will lead to inconsistency and difficulty dealing with others. Stay focused on what you can do and how best to approach what you’d like to happen with those who may interfere or stand in your way. ★★

LIBRA (Sept. 23-Oct. 22): Choose to engage in activities or jobs that require you to use physical rather than intellectual skills. Talks will lead to a misunderstanding that results in a setback.

Personal growth, physical improvements, love and romance are favored. ★★★★

SCORPIO (Oct. 23-Nov. 21): You’ll have stellar ideas and the energy to get things done. Present and promote what you have to offer, and you’ll receive positive input and the help and support you require to excel. ★★★

SAGITTARIUS (Nov. 22-Dec. 21): Consider what makes you happy and the adjustments you can make at home to encourage a brighter future. Fitness, health and looking your best will lead to compliments that boost your ego. Entertainment, romance and home improvements are featured. ★★★

CAPRICORN (Dec. 22-Jan. 19): Work diligently behind the scenes. You don’t want to present what you are working on prematurely. Time is on your side, and perfection will pay off. A positive change at home will encourage a healthier, more productive lifestyle. ★★★

AQUARIUS (Jan. 20-Feb. 18): Pay more attention to what’s going on around you. The changes someone makes aren’t likely to favor you. Listen carefully, but don’t agree to anything without further investigation. Consider ways to use your skills more effectively. A reunion will be insightful. ★★★★

PISCES (Feb. 19-March 20): Keep your emotions under control. If you act in haste, you will have regrets. Take your time, consider your options and formulate a plan that will be good for you as well as for others. ★★ BIRTHDAY BABY: You are affectionate, playful and entertaining.

You are competitive and astute.

‘stock exchange’ BY DAVID ALFRED BYWATERS The Universal Crossword/Edited by David Steinberg

ACROSS 1 Concluding 5 “This is terrible!�

9 Classic ballroom dance 14 Prepare to consume, as a novel 15 Consume, as a novel 16 State north of Utah 17 Painting that shows all of a farm’s nannies and billies?

19 Barbecue site 20 ___-fashioned 21 Overconfident racer in a fable 22 Starts 23 Owner of a mum-and-poppy business 25 Check the books of 26 Mist-ify?

27 Earth in a pigpen?

31 ___ Miserables 33 Depend (on) 34 Spotted cube 35 Soreness 38 Adolescence, e.g.

40 Alluring 41 Feathery neckwear

42 Pirate’s booty 43 Baby Archie, to Meghan Markle 45 Athletic shirt that says “Got Milk?�?

48 Sources of inspiration 52 Cousins’ mothers 53 Like a beautiful crossword theme 55 Work periods 57 Course of action 58 Pharmaceutical oversight org.

59 Nintendo character in a green hat 60 Ovine origami order?

62 Everything considered 63 Natural balm 64 Slanted type: Abbr.

65 Fragile window parts 66 Comforter stuffing 67 Apt rhyme for “fire�

DOWN 1 Sign out 2 Greek sun god 3 Experienced sailor 4 Explosive letters 5 Shamu’s relatives 6 Home, metaphorically 7 Place to pick up a puppy

8 9 10 11 12 13 18 22 24 25 28 29 30 32 35 36 37 39 40 42 44 46 47 49 50

Pindaric poem Use a towel on Slow movement?

Leeway Word before “crust� or “skin�

Places to see lions, tigers and bears Gleam Military music-makers Stir up Gets on in years Give an address Veto L.A. Law actress Susan Has on TV channel, or the start of a series Imitate a dove Like Barack Obama, by birth “Bonanza� nickname Cozy Some legumes Portents Vine region?

A primary color Refuge offering Make beloved

51 54 55 56 57 60 61

Paper clip alternative Weighed down Minor error ___ salad (sandwich filling) Horseplay?

Crosswords, e.g., in the 1920s In the know

Solution to yesterday’s puzzle:

www.businessmirror.com.ph

Parentlife BusinessMirror

Thursday, July 30, 2020

B5

My chosen photos My 2015 IG post on my individual weekly dates with Meagan and Marcus that brings me gratitude for the close relationship we have today; one of my favorite pieces at the Museum of Modern Art in New York City in 2018 which reminds me of my childhood dream to be an artist; with my late grandmother at Marcus’ nursery graduation makes me reminisce and grateful for all the love she gave me and my family through the years.

Being alone together: Part I T

HERE have been many effects of the Covid-19 pandemic on our day-to-day lives. Due to the economic effects of company shutdowns and reduced work hours, employees and business owners are facing many financial setbacks. The closure of schools and restrictions in malls and parks are also causing major disruptions in the daily routines of children and students. These consequently bear mental and psychological impacts on our society.

For these next two weeks, I will be focusing on this topic. I hope to also zero in on social isolation and hopefully suggest a positive way to pivot the negativity associated with it.

According to the CDC (Centers for Disease Control and Prevention, www.cdc.gov), “The coronavirus disease 2019 (Covid-19) pandemic may be stressful for people. Fear and anxiety about a new disease and what could happen can be overwhelming and cause strong emotions in adults and children. Public health actions, such as social distancing, can make people feel isolated and lonely and can increase stress and anxiety.” It points out that stress during an infection disease outbreak can sometimes cause the following: n Fear and worry about your own health and the health of your loved ones, your financial situation or job, or loss of support services you rely on n Changes in sleep or eating patterns

n Difficulty sleeping or concentrating n Worsening of chronic health problems n Worsening of mental health conditions n Increased use of tobacco and/or alcohol and other substances n Hand holding It further recommends healthy ways to cope with stress, namely: n Know what to do if you are sick and are concerned about Covid-19. Contact a health professional before you start any self-treatment for Covid-19. n Know where and how to get treatment and other support services and resources, including counseling or therapy (in person or through telehealth services). n Take care of your emotional health. Doing so will help you think clearly and react to the urgent needs to protect yourself and your family. n Take breaks from watching, reading, or listening to news stories, including those on social media.

Hearing about the pandemic repeatedly can be upsetting. n Take care of your body. n Take deep breaths, stretch, or meditate. n Try to eat healthy, well-balanced meals. n Exercise regularly. n Get plenty of sleep. n Avoid excessive alcohol and drug use. n Make time to unwind. Try to do some other activities you enjoy. n Connect with others. Talk with people you trust about your concerns and how you are feeling. n Connect with your community- or faith-based organizations. While social distancing measures are in place, consider connecting online, through social media, or by phone or mail.

Social isolation is one of the major consequences of all the lockdowns and quarantines. I classify this into personal isolation, as well as “unit isolation.”

Personal isolation, for me, is being cut off or highly restricted from our regular social environment. Our

office interactions are cut down due to reduced work hours. Especially those who have worked from home, this has been months of no face time with coworkers, no meetings and no travel.

For our elderly who are at higher risk and possibly retired from work, this is prolonged restriction of not being able to do our routines of grocery shopping, walking at the park, or even playing mahjong with our friends that may cause us to feel lonely. For kids and students, this is not being able to physically be with their peers in a classroom setting, in school activities and social events.

Unit isolation, for me, is our familial unit or our regular group we reside with being unable to perform the usual activities that allow us social interactions or exposure to various environments. Previously, the weekend activities of many families was to go to Church, have a family meal, then spend time in the mall. We also attended various gatherings from birthday parties to weddings, reunions and the like. Travel has also become a family highlight for prolonged holidays.

Both these types of isolation disrupts our human nature of being social beings. We are wired to communicate and connect with other individuals. We like to share our stories and our emotions. We like to listen and learn from other people’s experiences. We like to comfort and/or be comforted.

I point all these things out because awareness is the first key. We must accept and know what we are missing. Let’s try to do an exercise this week of looking through our photo album/s on our phones/ social media gallery or even physical photo albums.

Try to pick photos that touched you, save them on a folder or copy them on a word file. Then beside each photo, write what made you pick the photo and the emotions you associate with the photo. Are you happy, sad, regretful, grateful? The photos and captions above are examples.

Have these photos and reflections ready next week. n

SUNSHINE PLACE CLASSES GO ONLINE THE senior recreation center The Sunshine Place continues to bring sunshine, hope and inspiration to its members—especially those homebound—with its “sunshine online” classes. With these, they can continue to express their creativity in the center’s art and music classes, keep healthy and happy with special dance classes, and attend fitness management workshops and programs.

The popular art classes are now open online for seniors, as well as adults, teens and kids. Art Association of the Philippines President and acrylic instructor Fidel Sarmiento will mentor all throughout the sessions with hands-on techniques, application of different brushes, basic strokes, and color rendering.

Members will get to explore different styles in creating still life, landscape and seascape subjects.

Seniors and their loved ones can also learn porcelain plate painting under the instruction of Mee Lee Casey. Members can also discover the beauty and healing power of music through classes that include Piano, Voice and Music Therapy.

There are also special dance classes like Chair Dancing by Danny Vinculado, which gives opportunities for “super seniors”—the elderly in wheels, walkers, hip and with lower leg injury, or those who underwent medical procedures—to energize and be delighted.

Pound Fitness, under the instruction of Pound Pro Neru Salas, is an extension of Chair Dancing and

THE Sunshine Place brings its art classes online to continue to engage its senior community and their loved ones.

the first hybrid class catering to both able and persons with disabilitiy-bound clients.

Seniors dance to the beat, hitting the drumsticks, exercising both body and musicality—a cardio workout and music therapy in one.

Instructor Jose Antonio Anonas leads the way in the Sunshine Place’s Tai Chi Yang Style (24 movements) for beginners to find serenity and inner peace. Sunshine Place also has online classes with Life Care Fitness Management Inc. personal trainers Danica Bautista, Richard Olivas, Danica Duka and Philip Gutang, as well as online Physical Therapy

consultations and workshops with Josh Manoharan to help manage back pains and other body issues.

A senior recreation center under the Felicidad Tan Sy Foundation, The Sunshine Place is a venue for adults to live actively by engaging in recreational classes and age-appropriate physical training programs. It is the venue to be entertained, socialize and reflect; a place of happiness and wellness for one’s mind, body and soul.

More information is available through online. sunshineplace@gmail.com, or via the center’s Facebook Page and YouTube channels.

Promoting good health habits through technology

THE Covid-19 pandemic has definitely changed people and the way they live. Consumer attitudes, behavior and purchasing patterns are reflecting these changes. Simply put, consumers are now looking into ways on how to live healthier and improve their overall well-being. While staying at home is a priority, people nowadays are exploring means to eat good food and improve their daily routines to adapt to the “new normal.”

This also means they are looking for technologies for the home that could fulfill their needs to become healthier. With limited access to the outside world, it is best to have a storage of supplies that would make food last longer and keep its freshness.

Beko’s world-class refrigerators are the perfect fit for this job.

With its EverFresh+ technology, the brand’s refrigerators can keep fruits and vegetables fresh for up to three times longer, and ensure these last longer thanks to the company’s crisper drawer innovation.

This means consumers are saving money, time, and reducing food waste with Beko refrigerators.

“At Beko, we believe in making products and technologies that help improve the well-being of today’s consumers. As an appliance brand, we are committed to doing all we can to make consumers’ lives more convenient and healthier,” said Gürhan Günal, country manager of Beko Pilipinas Corp.

For instance, Beko’s GN163123P side-by-side has innovative features, including the NeoFrost Dual Cooling technology that maintains ideal airflow and optimal temperatures with a high level of humidity.

This enables food to stay fresher for longer with no frost building up and no odor transferring. It also has the Active Fresh Blue Light technology that allows continuous photosynthesis in the crisper, therefore retaining the natural flavors of fruits and vegetables.

Beko’s GN163123P is also equipped with the longlasting IonGuard that neutralizes bacteria, viruses and particles in the refrigerator using negative ions, allowing air inside to circulate and stay clean. This means that contamination will not occur and food can be stored twice longer. It also has a LED Illumination that provides full lighting all throughout the fridge for clear and worry-free finding.

With the Beko ProSmart Inverter Compressor, the fridge is four times quieter, more durable and energyefficient as the technology adapts to temperature variations to provide faster cooling with less energy.

A new subsidiary of Europe’s No. 1 home appliances brand, Beko is a market leader in the white goods space and empowers new generations to live healthier lives.

Beko is available at leading appliance centers on Metro Manila and Cebu. More information is available at www.facebook.com/bekoph.

B6 Thursday, July 30, 2020

After four jobs, working student graduates in law school

A

FTER taking four different jobs in a span of six years, Anna Mae Lamentillo finally received her Juris Doctor Degree at the College of Law, University of the Philippines Diliman.

“There were many times I wanted to quit, take a break. Balancing work and law school was very difficult but it was a commitment, a promise I was prepared to deliver. Every day was a struggle so I worked harder to survive,” Lamentillo noted.

“My last conversation with my dad, Manuel Lamentillo, before he died was about law school. I promised him I’d graduate and so I gave it everything I got,” she added.

Lamentillo held four different jobs in four different organisations since she started in UP Law: United Nations Development Program (UNDP), Food and Agriculture Organisation of the United Nations (FAO), the Office of Las Piñas Representative Mark Villar, and now, Department of Public Works and Highways.

“The challenges were different from one job to the other. When I was still with UNDP, since our classes end at 9 PM, the only option was to take the last flight to Cebu at 11 PM and a connecting 4 AM flight to Tacloban. There were many days I’d sleep at the airport. I read my cases in moving cars, airport terminals

hoping to finish the coverage for my 6 PM class,” she noted.

“In DPWH every day is different from the other. The circumstances, the challenges vary from one project to the next,” she added.

Lamentillo recalled how the policy of impromptu, unannounced inspections begun in DPWH. “At the start of our stint in DPWH, one of the biggest challenge was completing the Maysilo Project which at that time was already delayed for two years. It was the first project Sec Mark provided an ultimatum to the contractor must finish the flood control project within three months by September 30 or he must swim in the floodwaters caused by the delay. We would go to the site in varying hours 11 PM, 12:10 AM, 5 AM, 3 PM,” she said.

“When we open expressways, such as in NAIA, work can start as early as 12:01 AM. On a normal day, I wake up at 5 AM, start work at 7 AM, leave the office at 4 PM, attend classes at 6 PM and read my cases for the next day at 10 PM,” she noted.

Since 2016, Department of Public Works and Highways has completed a total of 23,657 km of roads, 4959 bridges, 8,941 flood mitigation structures, 137,098 classrooms

Atty. Anna Mae Lamentillo

and 129 evacuation centres.

Lamentillo is currently the Chairperson of the DPWH Build Build Build Committee.

She has been awarded the Veritas Medal by the Harvard Kennedy School Alumni Association - Philippines.

Previously, she was named by BluPrint as one of 50 ASEAN movers and shakers, by Lifestyle Asia as one of 18 Game Changers and by People Asia as one of 2019's Women of Style and Substance.

First virtual international ICT awards in the new normal

T

HERE’S no stopping the International ICT Awards Philippines, in continuing to be ‘THE’ leading and most prestigious awards event for the ICT industry in the Philippines. For the first time in its fourteen years the annual event in 2020 will be presented on Saturday, August 8, 7:30PM on TV (ANC) and streamed on Facebook with later uploads on You-Tube.

It can also be seen on the LED billboard located at EDSA corner Ortigas.

In announcing the 2020 event, the Chairman of the ICT Awards Organizing Committee, Canadian Chamber of Commerce (CanCham) President Julian Payne, declared the ICT Awards in 2020 will be momentous with its change to a 100% virtual format. “We have not been deterred by current quarantine restrictions. We have adapted not only to continue but also to move forward. We see this situation as a great opportunity to exploit available ICT media to make the event bigger, better, and

available both free for all and safe for all".

The International ICT Awards Philippines is an annual awards event that recognizes the outstanding companies in the Philippines that provide services using information and communications technologies (ICT). Nominees are evaluated by an independent Panel of Judges who are professionals in the ICT field. The nominees are assessed for their excellence in international business in several different categories, each category with a specific set of criteria for judging.

There must be at least three nominees for an award in each category which is required to ensure a completion for an award. The award categories being competed for include two Premier Awards, the Best Company of the Year and Best Employer of the Year as well as seven specific Category Awards: This year, the Organizer has appointed DICT Undersecretary Monchito “Mon” Ibrahim to be its independent Compliance Officer with the role of verifying all

Nominees meet the eligibility criteria with complete documentation before the nomination is submitted to the Panel of Judges.

This 2020 event is supported by the country’s two biggest and leading telecommunication companies – Globe Business and PLDT Enterprise - as Title Sponsors. Other leading companies are Category Sponsors with the event also supported by a wide range of foreign and national business associations and other companies. For the second year it has been officially endorsed by DICT, PEZA, and NICP. The Canadian Chamber of Commerce of the Philippines is the founder and continues to be the Organizer of the annual event including raising the required funding (all from the private sector) as well as arranging the nominating and judging procedures.

However, neither the organizer nor any sponsors are involved in the judging which is exclusively the role of the independent Panel of Judges.

SM Hotels and Conventions Corp. repurposes its Radisson Hotel Group properties to bolster the hospitality industry

Empire East posts 4B booked sales in 2019; reaches a 14% increase in net profit worth PHP 615M

T

OP property developer Empire East Land Holdings Inc. marked its 25 years in the real estate industry in 2019 with a strong financial performance. The Company's net profit reached P615 million last year, an increase of 14 percent from P535 million in 2018. Philippine residential real estate prices recorded a 10.4% year-on-year growth from 2018 to 2019, more significantly at a 29.1% growth rate for the 3rd quarter last year - indicating healthy and stable demand for residential developments.

Empire East's growth can be attributed to the Company's newest 24-hectare project launch, seven tower completions, prestige property and leadership recognitions, and official establishment of its CSR program.

The Company also astoundingly delivered 2.4 Billion Pesos worth of reservation sales during the quarantine period this 2020, despite the temporary closure of its site and mall showrooms. As the Company strengthens its sustainability and resiliency programs, it expects to expand the Empire East brand reach and continue its upward trajectory in the coming years.

"While no company is an exemption to this health crisis as the virus continues to linger globally, it was during this time that Empire East discovered once again the strength of its foundation that brought us sailing steadfastly into a new era of doing real estate business," said Empire East President Anthony Charlemagne Yu. Under the values of innovation, flexibility, community, and family welfare, Yu has personally witnessed how its crisis-resilient residential developments have made it easier to spark the Filipino "bayanihan" spirit at a time of health crisis. Community frontliners, including security guards and maintenance personnel, have chosen to respond in courage with continued service despite the threat of operations shutdown. Because the properties serve several towers, more and more residents have decided to open their hearts to their neighbors despite the sanctioned lockdown through fundraising and donations.

Communities benefited from their TransitOrientedness and Urban Resort designs in relying on a protected and help-accessible community at a time they need it the most.

"It is amazing to realize that we are now reaping the advantageous results of the innovations we implemented 25 years ago. Rest assured, that the city living solutions we will provide tomorrow, we are already anticipating and preparing for today," shared Yu. Empire East launched its 24-hectare residential project in 2019 along Felix Avenue in Pasig-Cainta -- the Empire East Highland City. Dubbed as the 'first elevated city' in the Philippines, Empire East Highland City promises a sustainable community with more open spaces masterfully designed for the residents' convenience, health, and space in mind.

The project will have four phases: the 8,000-square meter Highland Park will host retail areas, a 500-seater church, and vast gardens where residents and visitors can enjoy.

Led by a grand 'Spanish Steps' from the park, one will find a 58,000-square meter Highland Mall, which shall hold luxurious retail establishments

to serve its customers' needs. To rise in the quiet and exclusive area of the property is the Highland Residences with 37-high rise residential towers. Finally, a 6,700-square meter five-star sports club called "The Chartered Club" shall host world-class amenities and sports facilities like swimming pools, multi-purpose court, game room, and event halls, café and lounge. "Empire East Highland City is designed with the future demands on health, safety, and convenience in mind," said Yu. In 2019, seven towers with a total of 2,180 units were completed, namely, The Rochester's Palmridge Tower and Hillcrest Tower in Pasig City, with 238 units and 182 units, respectively.

Pioneer Woodlands' Tower 4 with 582 units, Pasig City's Kasara Urban Resort Residences' Tower 2, carrying 537 units, Little Baguio Terraces' Tower 2 with 389 units, and the Cambridge Village's Clusters 31 and 33 with 126 units each.

This year, the Company will continue to launch units for more towers in Empire East Highland City. It has secured properties with an aggregate area of 427 hectares for its land bank approximately worth PHP 5.1 billion.

Straining forward, the Company is set to strengthen its social and sustainability programs along with its Empire East Highland City project progression.

Despite the effects of the current year's pandemic, Empire East remains confident in the Company's purpose that shall allow for an even more lucrative growth and innovation carried by its plans that are more sensitive and caring to the market's needs.

In 2019, Empire East launched twentyfive (25) corporate social responsibility (CSR) activities that made way for helping out a total of 4,000 people building 41 houses for displaced families, planting 700 trees, assisting five schools, and supporting about 17 organizations and foundations. The Company officialized its Empire East Cares program by the end of the year.

The Company also celebrated its homeowners' wins by gaining property awards 'Best Mid End Condo' for San Lorenzo Place in Makati City, 'Best Affordable Condo,' and 'Best Universally Designed' Condo Cambridge Village in Pasig Cainta. Empire East still carries its recognition as the 'Best in CSR' win through the same Philippines Property Awards in 2018.

Empire East President Atty. Anthony Charlemagne Yu was also recognized for his superb leadership as he bags 'Outstanding Leader in Asia' through the ACES awards in 2019 held in Thailand.

Just recently, this July 2020, Empire East bagged its second win from ACES under the Asia’s Best Performing Company category, an award that recognizes high performing enterprises that have shown splendid growth in revenue and are on the path to becoming future giant corporations of Asia.

Security Bank Foundation-funded COVID-19 molecular laboratory in Cebu finally opens

Park Inn by Radisson Davao facade

T

HE preceding months have enabled us to unravel opportunities, enhance our creativity and discover our new sense of purpose. The recent inevitable circumstances led to a paradigm shift not only in the hospitality industry but largely in tourism as well. Always aiming to remain relevant, SMHCC spearheaded an initiative to repurpose its spaces to respond to the current situation.

SMHCC is thus proud to present its brainchild In Residence. Ms. Peggy E. Angeles, SMHCC’s Executive Vice President says, “Fully conceptualized

by SMHCC, In Residence is a highlycustomized innovation in long term hotel accommodation. It effectively fills-in the dynamic needs of guests looking for wellappointed spaces with the conveniences and perks associated with hotel living, vis-à-vis usual rentals that do not enjoy these unique benefits such as: worry-free housekeeping, complimentary parking,

Park Inn by Radisson North EDSA lobby

unlimited high speed internet access, and utilities.” Clearly, SMHCC’s sound business acumen enables its properties to weather the storm and have an enterprising vision. We remain forwardlooking in our approach and our leaders’ guidance drives the company to build and operate for a purpose.

Properties encompassing In Residence span Luzon, Visayas, and Mindanao. They have been tactically developed within multi-purpose communities that enable easy access to retail outlets and malls, notable sites, essential facilities like hospitals, and major thoroughfares, further rounding out a fully integrated masterplan where these properties are situated.

Room rates for the In Residence offer start at Php1,100 per night, inclusive of tax and service charge and additional perks for a minimum stay of thirty (30) continuous nights at participating RHG

hotels of SMHCC: Park Inn by Radisson North EDSA, Park Inn by Radisson Iloilo, Park Inn by Radisson Davao, and Radisson Blu Cebu.

The transformation of usual accommodations into sustained restful and comfortable living sanctuaries fully exhibit SMHCC’s ability to implement valuable operations models that spur additional sources of business. “As a cornerstone in the industry, our company continues to serve as a catalyst to nationwide growth and development through creative solutions that respond to the market’s evolving needs,” Ms. Angeles adds.

The Filipino brand of warmth and hospitality is an integral element within the bedrock of SMHCC’s vision and mission. SMHCC is driven by the passion to constantly reshape the way it operates and manages its properties, resulting from its robust presence, far-reaching influence, and an innovative culture of resilience.

Security Bank Foundation Inc (SBFI), in partnership with the Philippine Red Cross (PRC), has inaugurated the largest molecular laboratory for coronavirus disease 2019 (COVID-19) testing in the Visayas region on July 16, 2020.

S

ECURITY Bank Foundation Inc. (SBFI), in partnership with the Philippine Red Cross (PRC), has turned over the largest molecular laboratory for coronavirus disease 2019 (COVID-19) testing in the Visayas region on Thursday, July 16, 2020.

The 207-square meter laboratory is equipped with four reverse transcription polymerase chain reaction machines (RT-PCR) that has the

capacity to run up to 4,000 COVID-19 tests.aa “We welcome the opportunity to partner with the Philippine Red Cross to help our country in this time of pandemic. We hope that through the donation of this COVID-19 molecular laboratory in Mandaue City, Cebu, we will be able to protect more lives against the threat of COVID-19,” says Rafael F. Simpao, Jr., Chairman of SBFI.

Envoys&Expats BusinessMirror

www.businessmirror.com.ph

DFA leads blood donation drive

A

S the lead activity to the commemoration of the 122nd founding anniversary of the Department of Foreign Affairs (DFA), Secretary Teodoro L. Locsin Jr. spearheaded the conduct of the government agency’s blood donation drive, which was themed “Love in the Time of Covid.”

“This blood donation drive is the DFA’s response to the call of the Philippine Red Cross for blood donors to help save lives as the Philippines faces the... pandemic,” Foreign Affairs Undersecretary for Administration J. Eduardo Malaya said. “There is no better time [to celebrate DFA Day than to] rededicate ourselves to the department’s mission.”

Ensuring the safety of blooddonation procedure, the activity at the headquarters observed physical distancing and other health-safety measures in compliance with the

guidelines set by the Inter-Agency Task Force for the Management of Emerging Infectious Diseases. A total of 67 DFA personnel volunteered to donate their blood. DFA SECRETARY of Foreign Affairs Teodoro L. Locsin Jr. (left photo, right) confers with the Philippine Red Cross’ Dr. Gerald I. Valeriano (left). Undersecretary for Administration J. Eduardo Malaya (second from left) and Assistant Secretary for Human Resource Management Antonio A. Morales (third from left) were also present at the blood donation drive. NILO PALAYA/DFA

Japan, Unicef face new hurdles for kids vs Covid-19

A

S a “child-rights crisis,” the United Nations Children’s Fund (Unicef) recognizes the potential harm of the coronavirus disease 2019 (Covid-19), with many looming threats for the young in this country.

With this in mind, the global humanitarian body looks to its partners, such as the government and people of Japan, which have provided solid support to Filipino children for many decades.

“As we celebrate PhilippinesJapan Friendship Month, Unicef emphasizes the importance of partnership in its work,” Unicef Representat ive O y unsa i k han Dendevnorov said. “We cannot do it alone. During the Covid-19 crisis, the Japanese government and its people have again mobilized much-needed resources to protect Filipino children and their families.”

Since the start of the Covid-19 response, Japanese funding of about $730,000 has enabled Unicef to assist the Philippine government in its efforts to curb infections. The delivery of essential supplies, training and information-awareness projects

POLICE Colonel Ferdinand Madrilejo (from left), Ambassador Koji Haneda, Police Colonel Glenn Torres, Health Secretary Francisco T. Duque III and Unicef Philippines Representative Oyunsaikhan Dendevnorov.

were made possible through Japan’s support to complement local lifesaving efforts.

The funds have allowed the procurement of med ica l a nd health items to support and protect frontliners. Infection Prevention and Control (IPC) and Risk Communication and Community Engagement (RCCE) training modules were developed, which benefited 16 cities and a municipality, among others. Around 50

Philippine Red Cross call-center volunteers also received training on key messages and counseling skills for mental health and psychosocial support.

Water, sanitation and hygiene activities included the installation of temporary drinking water points, semipermanent toilets and handwashing facilities to 20 health-care facilities to help prevent the further spread of the virus.

Around 200 cleaning and sanita-

tion kits, 2,000 water kits and 2,000 hygiene kits.

Helping increase awareness on Covid-19, around 300,000 posters and brochures were developed and distributed. Local government units in the said cities and a municipality were given information materials.

Social-media posts with key health messages were also posted on Facebook and other social-media platforms.

The Embassy of Japan in the Philippines stated that “Covid-19 is continuously taking its toll around the globe. This sinister virus respects no age or borders, and no country can overcome this unprecedented health crisis alone.”

Acknowledging its long history of collaboration with Unicef in supporting children all over the world, and in particular, the Philippines, the embassy said: “We trust and sincerely hope that this long-standing partnership will further provide a helping hand to children in dire situations due to Covid-19. Please rest assured that the strong bond between Japan and the Philippines will remain constant in this rapidly changing world.”

Switzerland celebrates Natl Day in cyberspace

F

ROM July 26 to August 4, the Embassy of Switzerland in the Philippines is staging a virtual celebration of the Swiss National Day, traditionally celebrated every August 1.

Billed #MabuhaySwitzerland, the online experience will highlight Swiss– Philippine bilateral relations, as well as Swiss gastronomy, tourism, business, and culture from computer screens to the comfort of one’s home.

As the world continues to experience a pandemic discouraging large gatherings and promotes physical distancing, the Swiss Embassy said it has taken the initiative to explore new ways to celebrate the occasion.

“For the first time, the Swiss Embassy in Manila and its partners [is holding] various efforts to celebrate an important Swiss holiday,” stated Ambassador Alain Gaschen. “These include prerecorded videos, live streams and online contests that center on Swiss culinary delights, sights and sounds, [as well as] efforts by the business community in the Philippines.”

Some of these include the chance

to win a Nespresso machine by creating a Swiss emmental-style dish.

Followers of the embassy’s newest social-media account on Instagram, @SwissEmbassyPhilippines, may also bring home baskets by sharing their own Swiss memories with the #MabuhaySwitzerland hashtag. All contests and details are on the Embassy of Switzerland in the Philippines Facebook page.

Gaschen noted it was important to highlight these topics as they prove central to any national day celebration. In previous years, similar celebrations involved the large Swiss community coming together for Swiss food and music, with the smell of Swiss cheese and nostalgia in the air. The embassy, along with its partners, hoped to replicate this experi-

ence online and include everyone in the celebration. #MabuhaySwitzerland also aims to promote Swiss-Philippine relations by highlighting the “Mabuhay” and “Bayanihan” spirit of the Filipino. The long-standing relationship between the two countries has resulted in numerous developments and exchanges such as the Free Trade Agreement between the Philippines and European Free Trade Association memberstates, as well as a recently launched market study that aims to understand the potential of Philippine exports in the European market.

The Swiss business community is also an important contributor to #MabuhaySwitzerland: “Swiss business investments in the Philippines started more than a hundred years

ago and has developed into a strong presence in the country despite many challenges,” Philippine Swiss Business Council (PSBC) Chairman Ernesto S. Mascenon explained.

For instance, Swiss pharmaceutical giants Novartis and Roche have made significant contributions to the pandemic response of the Philippines through their respective efforts in antibody testing and a donation of P19.3 million to various Philippine health-care facilities. Another Switzerland based company, Satsure AG, was recently tapped by the Department of Agriculture to help boost its crop-insurance efforts.

Aside from these, Switzerland has also launched its #SwissNationalDay platform: www.missione1agosto.org, which contains “DIY” or “do-it-yourself” activities, video tutorials, and a global contest open to all. The Swiss Embassy invites everyone to join in the celebration by following the #MabuhaySwitzerland and #SwissNationalDay hashtags on Facebook and Instagram.

Thursday, July 30, 2020 B7

SoKor sends fresh set of aid

SECRETARY Teodoro L. Locsin Jr. (left) and Ambassador Han Dong-man. CARLO BONGON/DFA

T

HE Republic of Korea (ROK, or South Korea) further solidified its standing as one of the Philippines’s staunch supporters in arresting the further spread of the coronavirus disease 2019 (Covid-19), with a turnover of additional in-kind assistance at the Department of Foreign Affairs on July 27.

Secretary of Foreign Affairs Teodoro L. Locsin Jr. received the donations from Ambassador Han Dongman. The latest package included 600,000 pieces of high-quality KF94 protective masks worth $500,000, as well as seven “walk-through testing booths” valued at $150,000 for hospitals through the Korea International Cooperation Agency (KOICA).

Also covered by the turnover rites were 1,000 face shields jointly donated by the South Korean Embassy in partnership with Korean firm T&B Co. SD Biosensor, through the Korea Trade-Investment Promotion Agency (KOTRA), also provided 10,000 sets of kits costing $100,000 which can be used for 325,000 tests.

In April, the embassy turned over 700 Q-Sens Covid-19 diagnostic kits worth $500,000. This was immediately followed by an additional

17,664 Covid-19 diagnostic kits also worth the same amount, a set of polymerase chain reaction or PCR- and DNA-extraction equipment, and 300 sets of personal protective equipment. KOICA, for its part, provided $50,000-worth of PPE. Foreign Affairs Assistant Secretary for Asia and Pacific Affairs Meynardo LB. Montealegre, Health Undersecretary Ma. Carolina VidalTaiño and Office of Civil Defense Deputy Administrator Assistant Secretary Casiano C. Monilla attended the ceremony on behalf of the Philippine government. The Embassy of ROK’s Minister-Counselor Kim Sun-young and First Secretary Park Se-ah, along with SD Biosensor’s local representative Zafire Distributors Inc.’s Butch Lopez and KOTRA Manila Director General Ko Sang-hoon, were also present.

According to its embassy in Manila, the Korean government is also in the process of providing separate additional humanitarian assistance to the Philippines worth $500,000 from the Asean Korea Cooperation Fund in the coming weeks. This will be in the form of diagnostic kits, extraction equipment and PPE. Recto L. Mercene

US augments supplies for frontliners

US military and Philippine Coast Guard service members unload donations. US EMBASSY

W

ORKING in partnership with the Philippine Air Force, Philippine Army and Philippine Coast Guard, the United States Army and Marine Corps delivered an additional P11.4 million, or around $230,600, in personal protective equipment (PPE) and medical supplies to hospitals in 11 cities across the Philippines.

This new donation brings the US government’s total anti-pandemic aid to the Philippines to P989 million, or more than $20 million.

“This latest delivery of [the US government’s] assistance for Filipino frontliners in the battle against Covid-19 is a testament to our ongoing commitment to help the Philippines defeat the pandemic,” Ambassador Sung Y. Kim said.

The assistance, delivered in cooperation with the Philippine Office of Civil Defense and Department of Health, will provide medical clinics from Luzon to Mindanao with much-needed PPE and other essen-

tial equipment to support frontline workers in fighting Covid-19.

According to the US Embassy, this joint US-Philippine effort builds on decades of bilateral military cooperation in counterterrorism, humanitarian relief, maritime security, and many other fields.

The medical equipment will be distributed in August 16 to medical clinics, hospitals and provincial health units in Palawan, Batangas, Pampanga, Cebu, Sulu, Maguindanao, Zamboanga del Sur, Basilan, Tawi-Tawi, Misamis Oriental and Lanao del Norte. The supplies include disposable gloves, masks, medical clothing, various types of face protection, and tools such as infrared thermometers.

In the past two decades, the US has so far provided more than P228 billion (approximately $4.5 billion) in official development assistance to the Philippines, including more than P29 billion (or $582 million) in health assistance.

Sports

DS orders up for military athletes, coaches

BusinessMirror

B8

T

| Thursday, July 30, 2020

mirror_sports@yahoo.com.ph Editor: Jun Lomibao

TIMEOUT OVER, NBA GAMES ON!

By Tim Reynolds

L

The Associated Press

AKE BUENA VISTA, Florida—Games were canceled. Practice facilities were shuttered. A season ended unceremoniously for eight teams.

The draft process was delayed, as was free agency. Some players tested positive for the coronavirus. Many more took to the streets and used their voices to demand justice and equality as racism and police brutality sparked a nationwide conversation.

The world has changed since the National Basketball Association (NBA) stopped on March 11.

For 22 franchises, however, there is a goal that remains in place.

The NBA, at long last, is officially back. A reopening night doubleheader inside the bubble at Walt Disney World awaits Thursday, when New Orleans takes on Utah before a matchup of the two teams in the Western Conference—the Los Angeles Lakers and Los Angeles Clippers.

There won’t be any fans in attendance, health and safety protocols that were painstakingly written in response to the

coronavirus pandemic will be paramount, and teams can’t even shower in the arena after games. But after 20 weeks of waiting, wondering and worrying, the 2019-2020 NBA season is ready to hit the restart button with a champion scheduled to be crowned in October.

“Nobody’s life is pretty much how they planned it to be at this point with the pandemic, so you take it for what it is,” Clippers forward and reigning NBA Finals MVP Kawhi Leonard said. “Everybody is happy that a champion will be crowned this year, and if that’s the 2020 championship, then we want it. You know, that’s how I look at it. This is what the layout is, as far as to go out there and complete this journey.”

The field for the 16-team playoff bracket that will be finalized next month is already largely filled—12 of the 22 teams at Disney have clinched spots and Dallas is on the brink of another one. It leaves three teams vying for two spots in the Eastern Conference, and six teams for one spot in the Western Conference.

For the front-runners like the NBA-leading Milwaukee Bucks and West-leading Lakers, the eight remaining games before the playoffs are about tuning up their games. For most of the other teams that have clinched berths, it’s about securing

the best possible playoff seed. And for the hopefuls, it’s about finding a way to get into the field and stay at Disney at least a couple weeks longer than planned.

“We want to get back to work,” said San Antonio Coach Gregg Popovich, whose Spurs will aim to become the first franchise in league history to make 23 consecutive playoff appearances.

“We want to do what we’re all used to doing. We want to do as much as we can, safely, to energize the country, to play the games we all love. And as long as we can do that safely, it’s a big win for everybody.”

Starting Friday and running through August 14, there will be at least four and sometimes as many as seven games per day, spread out over a three-arena corner of the Disney complex. There will be many instances where three games are happening at once. And there will be days that have games running for more than 10 consecutive hours.

After no basketball for what seemed like forever, a hoops smorgasbord awaits.

“It’s the biggest and best AAU tournament

ever,” New Orleans Coach Alvin Gentry said.

The biggest names are here: reigning MVP Giannis Antetokounmpo of the Bucks, LeBron James of the Lakers, scoring champion James Harden of Houston, plus the reigning Finals MVP and All-Star Game MVP in Leonard. Of the 25 players on this season’s All-Star rosters, 23 are at Disney and a 24th—Indiana’s Domantas Sabonis—may return

KARATEKAS GET BETTER CHANCE orbon

lim

tsukii

Benches clear in testy rematch as Dodgers slip past Astros, 5-2 T

NBA BACK ON PHL TV VIA TV5, ONE SPORTS

H

T

HE National Basketball Association (NBA) is back on Philippine television, Cignal TV and TV5 President and CEO Robert Galang confirmed early this week.

Free TV channels TV5 and ONE Sports will show the games in time for the start of the season, airing games on Saturday and Sunday for TV5 and every Friday and Monday for ONE Sports.

Coverage begins on Friday and extends to the NBA Playoffs for both channels—with the NBA Finals airing exclusively on TV5.

“We will deliver NBA content, not just for our pay TV subscribers but to the general public. Everyone will have access to the NBA through our channels TV5 and ONE Sports” Galang said. “But of course, fans get the best NBA experience on TV on Cignal.”

Cignal subscribers could access a new channel called NBA TV Philippines starting Friday, airing an average of two games per day, along with shows directly from NBA TV in the US, including flagship program NBA GameTime.

The channel’s coverage goes all the way up to the NBA Finals, and is the only destination on TV where fans could watch the games in high definition.

Cignal Marketing Head Guido Zaballero said that NBA TV Philippines will be available to Cignal postpaid subscribers on plans P520 and up. For prepaid, Zaballero said loads P600 and up will get the channel 262 HD feed and loads P450 and above will get the channel 96 SD feed.

“I think the NBA is a huge piece of the puzzle for us. We are the broadcast partner of the biggest, most prestigious basketball brand in the world,” Zaballero said. “As the No. 1 pay TV provider in the country, we can provide the best viewing experience for 2.3 million homes because only NBA TV Philippines offers 24/7 access to the most number of NBA games in high definition.”

The channel will also be available as an add on for P200 a month on both Cignal (channel 262 HD) and SatLite (channel 52 SD), the company’s mass-market Pay TV brand. The channel will be offered two months free of charge for new subscribers who switch to Cignal at the start of the season until the end of the year.

The partnership comes at an opportune moment with Cignal TV becoming the blocktimer for TV5’s daily program offering. The NBA also comes as a solid addition to the already strong sports lineup of ONE Sports that includes the Philippine Basketball Association, Philippine Superliga and UFC, among others.

THE Bucks’ Giannis Antetokounmpo dunks during the first half of their game against the Philadelphia 76ers in Milwaukee last February. AP

if his injured left foot heals.

Also here: the defending champions.

Toronto lost Leonard and Danny Green to the Clippers in free agency this past offseason—more than a year ago now. And then the Raptors laughed off suggestions that they wouldn’t be good enough to make the playoffs. They enter the restart holding the No. 2 seed in the East, looking every bit like a team capable of another very deep run.

“We’ve been through it,” Raptors guard Fred VanVleet said. “We never got the respect before the last couple months of last season.

We’re not used to getting pats on the back or flowers, so it’s not really that different.”

There are eight teams not here—Golden State, which went to the NBA Finals in each of the last five seasons before sputtering through an injury-plagued year this season, among them. The others whose seasons ended March 11: Minnesota, Cleveland, Detroit, Atlanta, New York, Charlotte and Chicago.

Ratings for the games at Disney are expected to be big. Every game will be televised, as usual. A sprint to the playoffs is about to begin.

The longest timeout in NBA history is finally over.

OKYO Olympics qualifiers and hopefuls who are members of the military will be prioritized by the Armed Forces of the Philippines (AFP) in the granting of detailed service (DS) orders.

This was agreed upon during a meeting among Philippine Sports Commission (PSC), Philippine Olympic Committee (POC) and AFP officials, who put premium on the qualifiers and aspirants’ training and preparation for the Games that were moved to 2021.

“We are working with the POC in drawing up the list,” PSC Acting Executive Director Atty.

Guillermo Iroy Jr. said.

The DS orders of national athletes who are personnel of the various AFP services expired last May and have since been ordered to return to the barracks. The PSC wrote the AFP on its request to allow 78 national athletes and 52 coaches in 19 sports to be detailed to the PSC. Iroy discussed the details of the DS orders with Col. Rocky Binag of the AFP Special Service Unit, POC Secretary-General Atty. Ed Gastanes and NSA Affairs Head Annie Ruiz. They expect to wrap up the task in mid-August.

Rio 2016 weightlifting silver medalist Hidilyn Diaz and Tokyo Olympics-bound boxer Eumir Felix Marcial, who are both enlisted in the Air Force, already got their DS orders to focus on their training. Diaz is still trying to qualify for the Games.

Several athletes and coaches in swimming, table tennis, taekwondo, volleyball, wrestling, boxing, baseball, rowing, sailing, sepak takraw, softball, soft tennis, weightlifting, cycling, obstacle sports, muaythai and judo and para athletes in athletics, badminton, table tennis and cycling are also AFP personnel.

THE Dodgers’ relief pitcher Joe Kelly yells back at the Astros’ Carlos Correa after the sixth inning of their game on Tuesday. AP

OUSTON—Benches cleared Tuesday night during the Dodgers’ 5-2 victory over the Astros in the first game between the teams since it was revealed that Houston illegally stole signs en route to a 2017 championship that came at Los Angeles’ expense in the World Series.

The fracas occurred after Dodgers reliever Joe Kelly threw high-and-tight pitches to Astros stars Alex Bregman and Carlos Correa in the sixth inning.

Kelly threw an errant breaking ball over Correa’s head. Correa, who homered and finished with three hits, took off his batting helmet and stared Kelly down before continuing the at-bat.

Kelly struck out Correa, then stuck out his tongue and made a face in his direction. Correa started walking toward him and the players exchanged words, prompting the benches to clear in the first such incident of this pandemic-delayed season. There was plenty of yelling and crowding—outlawed as the Major League Baseball (MLB) tries to play a 60-game season amid the pandemic—but no pushing or punches thrown.

Order was restored after a couple of minutes and there were no ejections, but Houston

Manager Dusty Baker was still upset before play resumed and got in the face of an umpire.

Brusdar Graterol (1-1) worked a scoreless fifth and Kenley Jansen earned the save.

Astros starter Framber Valdez (0-1) permitted three runs—two earned—in fourand-one-third innings.

Javier Báez homered twice, doubled and scored on a deft dive to the plate as Chicago extended its opening surge by beating Cincinnati at its home field, 8-5.

Alec Mills pitched six solid innings for the Cubs, who have won four of their first five games and scored first in each one. Jason Kipnis’ triple—Shogo Akiyama lost it in the sun—got Chicago going again.

Mills (1-0) added to Chicago’s stretch of impressive starts, holding the Reds to two hits in six innings. Cubs starters have a 1.80 ERA and a .131 opponent batting average this season.

The Reds got two-run homers by Nick Castellanos—his first since signing a $64 million deal—and Freddy Galvis but fell to 1-4, tied for the worst start in the majors.

Cody Reed (0-1) allowed two runs in the fifth after relieving starter Tyler Mahle. AP

Make way for revolving door at No. 1 in golf world ranking

J

ON RAHM is the No. 1 player in the world.

The best player in golf? That depends on the week.

Webb Simpson looked to be tough to beat when he won the RBC Heritage, giving him two victories, a runner-up finish and a third place in his last six Professional Golfers’ Association (PGA) Tour events.

But then Dustin Johnson won the Travelers Championship, renewing conversations that when he puts in the time, no one has a greater package of talent. During his two weeks off, however, golf became obsessed with supersized Bryson DeChambeau and his 200 mph ball speed that carried him to victory in Detroit, his seventh straight top 10.

And then two days after DeChambeau took a 10—ideal for gymnastics, not so much for golf—on the 15th hole at Muirfield Village to miss the cut, Rahm built an eight-shot lead at the turn and held on for a victory at the Memorial that sent him to No. 1 in the world.

For how long?

Longer than Tom Lehman, for sure. Of the 24 players who have been No. 1 since the world ranking began in 1986, Lehman was there the shortest time—one week. And just his luck, he took that week off, so he never even played a tournament at No. 1 in the world.

Rory McIlroy, whom Rahm replaced at No. 1, and Justin Thomas can return to the top if they win the World Golf Championship this week in Memphis, Tennessee. At least that’s easier to track than two weeks ago, when five players at the Memorial had a mathematical chance of reaching No. 1.

Whether the reason is depth or parity, it’s become a revolving door that doesn’t appear to be stopping anytime soon.

Brooks Koepka started the year at No. 1, and McIlroy took over in February. Rahm was asked Tuesday if he considered them the best players in the world while they were at No. 1, and if he looks at himself that way now.

“I think nowadays it’s really tough to determine one player,” Rahm said. “Because

yeah, Brooks is having a hard year right now.

He’s not playing his best. But he has won four majors in the last few years. Rory played amazing last year. It’s hard to dictate one player alone. But it would be foolish of me to say that I’m not here thinking I’m the best player.

“And I think all the great players out there who have got to this point are playing like they believe they’re the best player,” he said. “In golf, you need to prove that every week.”

McIlroy and Johnson have done that better than anyone over the last decade. McIlroy has reached No. 1 on eight occasions for a total of 106 weeks. Johnson has been there five times for a total of 96 weeks.

During their longest stretches—64 weeks for Johnson, 54 weeks for McIlroy—there was little argument.

With Tiger Woods, there was no argument.

Not since Woods in 2009 has a player started and finished a year without surrendering the No. 1 ranking. It was the eighth time Woods did that.

Consider the 281 consecutive weeks Woods

was No. 1, from the 2005 US Open until the 2010 HSBC Champions. In the last 281 weeks, No. 1 has changed hands 27 times.

Phil Mickelson was never on that list, and Rahm was quick to point out that playing against Woods in his prime certainly didn’t help Lefty’s cause.

“But it still doesn’t take away from what I’ve done,” Rahm said. “Now at the same time, getting here, it’s great. I played great golf the last four years.... It’s not only to get here. but to stay here, hopefully for a long time.” AP

HE chances for at least three Filipino karatekas of qualifying for the sport’s debut at next year’s Tokyo Olympics gained ground after the World Karate Federation (WKF) moved back the Games qualifiers in Paris to June 2021.

Karate Pilipinas President Richard Lim said the top-caliber karatekas who already qualified for Tokyo won’t be in Paris in June, giving local bets Joane Bernice Orbon, Jamie Lim and Junna Tsukii a broader opportunity to make the Olympics.

“This is a blessing for the local athletes as the top-caliber karatekas who earned their slots to Tokyo will not be around,” Lim told the Philippine Sportswriters Association Forum online edition on Tuesday. “The athletes who have qualified through the world rankings and Asian rankings will not be there in Paris.”

The WKF ruled that the top 4 in the world and the top 2 in the continental rankings get automatic slots to the Tokyo Games, where karate is making its debut.

According to Lim, Orbon (female, -61kg) and Lim (female, +61kg) bagging gold medals at the Ukrainian Karate Premier League Kharkiv Open last February are potential indications that they can mix it up with the world-class athletes.

Tsukii, meanwhile, clinched a bronze medal in the female -50 kg division of the Karate1 Premier League in Paris last January.

Orbon is now based in the California, while Tsukii is in Japan. Lim, daughter of Philippine Basketball Association legend Samboy Lim, has been training online at home.

Ramon Rafael Bonilla JON RAHM is the No. 1 player in the world, but for how long? AP