BusinessMirror June 25, 2021

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Friday, June 25, 2021 Vol. 16 No. 254

P25.00 nationwide | 2 sections 18 pages |

‘Aquino admin reforms paved the way for a stable economy’ Story on A2

In this June 8, 2012, file photo, President Benigno S. Aquino III departs Andrews Air Force Base for his working visit to Los Angeles, California, after the bilateral meeting with US President Barack Obama at the Oval Office in the US. Aquino died at 61 on Thursday (June 24) morning, of renal disease secondary to diabetes, missing a hoped-for kidney transplant.

Stories on pages A2, A5 and A10. JAY MORALES / MALACAÑANG PHOTO BUREAU

BSP KEEPS RATES LOW TO SUPPORT ECONOMY

By Bianca Cuaresma

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@BcuaresmaBM

HE Bangko Sentral ng Pilipinas (BSP) announced on Thursday that it has decided to maintain its monetary policy settings at an accommodative stance to provide continued support to the economy amid Covid-19 related disruptions.

In a virtual press briefing, BSP Governor Benjamin Diokno said the Monetary Board decided to keep the interest rate on their overnight reverse repurchase facility at 2 percent. The interest rates on the overnight deposit and lending facilities were likewise kept at 1.5 percent and 2.5 percent, respectively.

This is the fifth consecutive time that the Monetary Board retained their monetary policy settings at record lows to support the economy. BSP Deputy Governor Francisco Dakila Jr. also said in the same briefing that the BSP “has space” for monetary policy to be “accommodative as long as necessary” until the BSP sees “stronger and sustainable signs” of economic

recovery.

“On balance, the expected path of inflation and downside risks to domestic economic growth warrant keeping monetary policy settings unchanged. The Monetary Board believes that sustained monetary policy support for domestic demand should help the economic recovery gain more traction, especially as risk aversion continues to temper credit activity despite ample liquidity in the financial system,” Diokno said.

“The Monetary Board also observed that economic activity has improved in recent weeks, but the overall momentum of the economic recovery remains tentative as the threat of Covid-19 infections continues,” he added.

His Eminence Jose F. Cardinal Advincula is seen in front of the Manila Cathedral on Thursday (June 24) at his canonical possession and installation as the 33rd Archbishop of Manila. It coincided with the 450th founding anniversary of the city of Manila. BERNARD TESTA

ADVINCULA, A ‘LISTENING SHEPHERD’

By Samuel P. Medenilla

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@sam_medenilla

EWLY installed Manila Archbishop Jose F. Cardinal Advincula said he will face head-on the “pastoral challenges” in helping the youth within his new jurisdiction as a “listening shepherd” of the Church.

During his homily at his installation ceremony at the Manila Cathedral on Thursday, the prelate expressed concern over the

marginalized members of society, especially the young, whom he referred to as “lambs,” who need guidance.

He noted how these vulnerable sectors become the target of the “marauding wolves,” especially during the pandemic and he has committed to listen to their plight.

“I cannot feed my flock unless I listen first to their needs, their longings. While listening to them, I would be able to journey with them See “Advincula,” A2

See “BSP,” A2

PESO exchange rates n US 48.7910

n japan 0.4397 n UK 68.1464 n HK 6.2831 n CHINA 7.5355 n singapore 36.2543 n australia 36.9494 n EU 58.2077 n SAUDI arabia 13.0113

Source: BSP (June 24, 2021)

News

BusinessMirror

A2 Friday, June 25, 2021

BSP...

Higher inflation

Continued from A1

The BSP’s move to maintain the policy rates was amid their new expectations of a slightly higher inflation rate for this year.

In the same briefing, Deputy Governor Dakila said inflation is now likely to average at 4 percent for this year, up from the 3.9 percent forecast in their previous meeting. The government’s target band for the year is at 2 to 4 percent.

For next year up until 2022, Dakila said inflation is expected to hit an annual average of 3 percent.

Diokno said the continued implementation of direct non-monetary measures will be “crucial” in mitigating further supply-side pressures on meat prices and inflation.

“The risks to the inflation outlook remain broadly balanced around the baseline projection path. The uptick in international commodity prices amid supply-chain bottlenecks and the recovery in global demand could lend upside pressures on inflation,” Diokno said.

“However, downside risks to the inflation outlook continue to emanate from the emergence of new coronavirus variants, which could delay the easing of containment measures and temper prospects for domestic growth,” he added.

ING Bank economist Nicholas Mapa said the BSP will likely continue holding on to low rates as they believe economic recovery remains tentative due to Covid-19.

“With price pressures fading and inflation set to slide back within target in the coming months, we expect BSP to extend its pause for the balance of the year with a possible rate hike by the middle of next year,” Mapa said.

“Meanwhile, we expect the Philippine Peso to remain pressured in the near term on anxiety over the timing of the Fed taper with BSP likely holding off on hiking policy rates to jump-start stalling bank lending and revive the ailing economy,” he added.

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‘Aquino admin reforms paved the way for a stable economy’

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HE reforms implemented by former President Benigno “Noynoy” S. Aquino III strengthened the country’s macroeconomic fundamentals, which enabled the Philippines to bag its first investment grade rating, expand GDP by 6.2 percent and lift millions out of poverty during his term.

In 2013, the Philippines was categorized as an “investment grade” sovereign by all three international credit watchers: Fitch Ratings, S&P Global Ratings and Moody’s Investors Service.

An investment grade rating means that the sovereign has been deemed to have a “strong capacity” to repay financial obligations and have a very low risk of defaulting.

Investment grade ratings are usually given to countries with strong macroeconomic,

monetary and fiscal fundamentals.

In March 2013, Fitch Ratings first gave its nod of confidence to the Philippine economy by upgrading its rating from BB+ to the minimum investment grade BBB-. Fitch cited the country’s “stronger and less volatile growth” compared to its peer countries during the period.

“The Philippine economy has been resilient, expanding 6.6 percent in 2012 amid a weak global economic back-

drop. Strong domestic demand drove this outturn,” Fitch Ratings said.

The rating was also hinged on the administration’s “good governance” agenda.

“Governance reform has been a centerpiece of the Aquino administration's policy efforts. Entrenching these reforms by 2016 is a policy priority of the government,” Fitch Ratings said.

Two months later, S&P Global Ratings followed and also upgraded the country’s rating from BB+ to BBB-. In October the same year, the Philippines completed its ascent to the investment grade territory after Moody’s also upgraded the country’s rating to Baa3.

“The new growth path is being reinforced in part by improved fiscal management. Revenue growth has accommodated sizable increases in infrastructure and social spending,” Moody’s said.

GDP growth

House Committee on Ways and Means Chairman Albay Rep. Joey Salceda said the stable macroeconomic policy of former President Aquino, who was a student of former President Gloria MacapagalArroyo, allowed GDP to grow by an average of 6 percent.

“Apart from posting an average real GDP growth rate at 6.2 percent, annual inflation during the late president’s term averaged 1.4 percent,” said Salceda.

He said Aquino was also able to increase the country’s employment rate from 92.7 percent in 2010 to 94.2 percent in January 2016, as well as increase infrastructure investment from 1.8 percent of GDP in 2010 to an average of 3 percent of GDP during his term.

“The Aquino administration was able to lift 7.7 million Filipinos out of poverty through its Pantawid Pamilyang Pilipino Program [4Ps] while its bottom-up budgeting program also allowed for more resources towards rural and poverty reduction programs.”

Salceda said the late president also improved the country's fiscal policy, noting that there was an “almost consistent improvement” in the country’s revenue and tax performance and his sin tax reform raised P60 billion in revenues.

During his term, the Philippines became a net contributor to the International Monetary Fund (IMF), making available $251.5 million to the IMF to finance the assistance program—the Finan-

Advincula...

—in their sorrow and joy, in their suffering and glory—and collaborate work with them, to bring them closer to Christ,” Advincula said.

New challenge

Advincula candidly said he initially felt “inadequate” for his new position, but by remembering the example of Christ and being his herald, he gained the confidence to face his new challenge at the Archdiocese of Manila.

“I am now 69 years old, at the twilight of my ministry.

I thought I was that old to be transferred to another diocese,” Advincula said.

“But in a mysterious fashion, God has called me to get away from my comfort zone, and serve Him in a manner far beyond my expectations. And it demands of me a lot more than I can give if

cial Transactions Plan—for crisisstricken countries.

Meanwhile, Finance Secretary Carlos G. Dominguez III credited the Aquino administration with enacting Tax Incentives and Management and Transparency Act and sin tax laws which shaped the country’s economic growth prior to the pandemic.

Dominguez told reporters the TIMTA law, which forced disclosure and subsequent analysis of the amount of foregone revenue due to fiscal incentives granted to registered companies, resulted in the formulation and enactment of Corporate Recovery and Tax Incentives for Enterprises.

As for the sin tax laws which raised the excise tax on sin products and reduced it to only one rate the number of categories of taxes on cigarettes, Dominguez said this “laid the groundwork for increasing excise taxes on cigarettes as well as the enactment of legislation on excise tax on sugary drinks.”

Rice sufficiency

During the Aquino administration, the Philippines achieved its highest rice self-sufficiency rate (SSR) since becoming a member of the World Trade Organization in 1995.

Historical Philippine Statistics Authority (PSA) data showed that the country achieved a rice SSR of 96.8 percent in 2013 on the back of higher domestic harvest.

The country produced 18.44 million metric tons (MMT) of palay in 2013, which was 2.2 percent higher than the 18.03 MMT recorded in 2012.

PSA data further showed that rice imports in 2013 declined by 61.72 percent to 402,712.311 MT from 1.052 MMT in 2012.

While his goal of zero rice imports by 2013 did not materialize, the country had significantly reduced its purchases of the imported staple that year, based on historical PSA data.

Anti-trust, DICT

In a bid to accelerate infrastructure to sustain the country's economic growth, Aquino also signed Executive Order 8 renaming the BuildOperate-Transfer Center as the Public-Private Partnership (PPP) center to specifically cater to projects undertaken via BOT, buildlease-transfer, and other privatepublic sector undertakings.

During his term, he signed into law the Philippine Competition Act or the Republic Act 10667 establishing the Philippine Com-

petition Commission. The law disallows abuse of dominant position, anticompetitive agreements, mergers and acquisitions.

The former chief executive also approved the creation of the Department of Information and Communications Technology (DICT) for the planning, development and promotion of the country’s information and communications technology.

The Makati Business Club (MBC) said the economic policies during the Aquino administration encouraged the private sector to fund investments that boosted employment in the country.

MBC Executive Director Coco Alcuaz, in a message to the BusinessMirror, praised the initiatives of the former top executive as they helped in boosting the economy.

“History will judge President Aquino well because he combined pro-people social policies—modernizing education, expanding cash transfers, for example—with relatively clean government,” Alcuaz said. “That meant taxes went to public services and infra, while foreign and local businesses were excited to make job-creating investments.”

Philippine Chamber of Commerce and Industry (PCCI) Chair Alegria Limjoco also commended the Aquino administration for bringing in more investors following the Asia-Pacific Economic Cooperation (APEC) Ministerial Meeting in 2015.

“At the time, economy started picking especially after the successful holding of the 2015 APEC leaders’ meeting,” she said.

“On the back of his highprofile campaign to weed out corruption and the excellent performance of the GDP, the inflow of foreign direct investment steadily improved, rising by 60 percent when stepped down from office,” PCCI President Benedicto V. Yujuico said in a separate statement.

The Management Association of the Philippines, meanwhile, lauded Aquino for fostering “impressive economic growth, with four credit rating upgrades and a significant increase in foreign direct investments, aided by his focus on transparency and good governance.”

In 2011 to 2016, the country's total trade registered a compounded annual growth rate of 4.9 percent, according to the PSA. Bianca Cuaresma, Jovee Marie N. Dela Cruz, Jasper Emmanuel Y. Arcalas, Bernadette D. Nicolas and Tyrone Jasper C. Piad

Continued from A1

I am to shepherd His flock after His own heart,” he added.

Ma ni l a Au x i l ia r y Bishop Broderick Pabillo said that he and other members of the clergy of the Archdiocese of Manila are ready to help Advincula in his mission.

“Do not be afraid, we are ready as always to cooperate and collaborate with our shepherds.

You are not in this alone,” Pabillo said.

Worthy successor

For his part, Advincula thanked Pabillo, who served as Apostolic Administrator as the Archdiocese of Manila following the reassignment to the Vatican of former Archbishop of Manila Luis Antonio Cardinal Tagle last year.

He noted how Pabillo was able to mange well the Archdiocese for 16 months amid the pandemic.

Advincula’s installation as the 33rd Archbishop of Manila was attended by Papal Nuncio to the Philippines Charles Brown, as well as other Church and local government officials.

In the Apostolic Letter from Pope Francis, read by Manila A rc hd iocese C h a ncel lor Fr. Reginald Malicdem, the Holy See said he approved the recommendation of the Congregation of bishops to give Advincula his new position due to exemplary service in the Archdiocese of Capiz.

“We, therefore, think of you, our venerable brother, who are found to be gifted with proven qualities with merits of owing exercise of apostolic work in the metropolitan archdiocese of Capiz that we deem you suitable to fulfil this new responsibility,” Pope Francis said in his letter.

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PHL achieves ‘milestone’ vaccination at 353K jabs in a single day–Dizon

By Claudeth Mocon-Ciriaco @claudethmc3

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HE Philippines reached a “milestone” as the country hit its highest vaccination rate of 353,000 jabs in a single day, Covid-19 testing czar Secretary Vivencio “Vince” Dizon reported on Thursday.

“Today, we hit a milestone, we hit our highest jab rate in one day [we reached] 353,000 yesterday [Wednesday, June 23],” Dizon said at a news briefing during the vaccination site visit of the National Task Force (NTF) Against Covid-19 and the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) with medical experts from Israel at the Lakeshore Mega Vaccination Hub in Taguig City.

“That is really an achievement,” an elated Dizon said, noting that for National Capital Region (NCR), they have reached 167,000 jabs in a single day. The target for NCR is around 120,000, while for the whole country, the government aims to vaccinate 500,000 per day.

With the arrival of 2 million doses of Sinovac vaccine on Thursday from Beijing and additional vaccine doses in the coming days, the testing czar expressed optimism that the vaccine rollout will reach many people in the coming days.

Meanwhile, the three Israeli experts, who arrived in Manila on Sunday to assist the country’s Covid-19 response, were impressed at how the Philippine government was able to handle the challenges, especially in delivering the vaccines, as they noted that the country consists of over 7,000 islands.

“The challenges the Philippines are facing are enormous in terms of geographic situation. So, I don’t think it’s so much of a strategy or more of things to build together,” Dr. Adam Nicholas Segal said.

With this kind of situation, Dr. Dafna Segol, on the other hand, said that the best way is to use a “combi-

nation of strategies [especially on] shipment in chilled solution.”

For his part, Health Secretary Francisco T. Duque III said, “The allocation plan always considers the capacity the adequacy of the correct storage temperature.”

Duque also thanked the medical experts from Israel.

“Thank you for sharing your manifold best practices. They are here to observe, but beyond observation, they will share with us what they have done. We certainly need to learn a lot from them.

Meanwhile, Taguig City Mayor Edgardo Cayetano assured that they are exerting all efforts to increase the city’s vaccination capacity and reach 70 percent of the city’s population in October to help reach the target of the national government to vaccinate 70 percent of the country’s population by November to achieve herd immunity.

Covid cases

THE total number of Covid-19 cases in the country rose to 1,378,260 after 6,043 additional infections were recorded on Thursday.

There were also 4,486 recoveries and 108 deaths.

Of the total number of cases, 3.7 percent (51,410) are active, 94.5 percent (1,302,814) have recovered, and 1.74 percent (24,036) have died.

Fifteen duplicates were removed from the total case count. Of these, 9 are recoveries.

Moreover, 44 cases previously tagged as recoveries have been validated to be active cases and 61 cases that were previously tagged as recoveries were reclassified as deaths after final validation.

All laboratories were operational on June 22, 2021 but 1 lab was not able to submit their data to the Covid-19 Document Repository System.

Based on data in the last 14 days, the 1 non-reporting lab contributes, on average, 0.35 percent of samples tested and 0.24 percent of positive individuals.

Black Hawk down in Tarlac: 6 PAF men die in chopper crash

By Rene Acosta @reneacostaBM

& Ashley Manabat Correspondent

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IX Philippine Air Force (PAF) personnel, including three junior officers, perished on Wednesday night after the S-70i Black Hawk utility helicopter that was carrying them crashed in Tarlac.

The chopper, attached to the 205th Helicopter Wing, was on a Night Flight Proficiency Training when it ran into a mishap, PAF spokesman Lt. Col. Maynard Mariano said.

The Black Hawk left its base at around 8 p.m., and it may have crashed within the succeeding two hours near the Crow Valley Target range in Tarlac, Mariano said.

“The helicopter was earlier reported to be late in returning to its station at the expected time at Clark Air Base, Pampanga,” he explained.

PAF did not identify three of the casualties of the crash pending notification of their kin, but three of them have the rank of a lieutenant colonel and major.

PAF has subsequently grounded

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By Tyrone Jasper C. Piad @TyronePiad

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HE National Privacy Commission (NPC) is collaborating with an attached agency of the Department of Information and Communications Technology (DICT) to strengthen its digital forensic capabilities.

In a news statement issued on Thursday, the privacy watchdog said it had inked a memorandum of agreement with the Cybercrime Investigation and Coordinating Center (CICC) to provide capacity building to NPC personnel in the operation of former’s Digital Forensic Laboratory.

a separate offense the global menace of enforced disappearance.

Aquino also signed the “Human Rights Victims Reparation and Recognition Act of 2013” or RA 10368 on February 25, 2013.

This law recognizes the unparalleled heroism of human-rights victims who fought against the Marcos dictatorship under martial law, and seeks rightful compensation for their suffering and those of their kin.

The “Centenarians Act of 2016” or RA 10868 was enacted by Aquino on June 23, 2016 to honor Filipino centenarians and grants them much-needed additional benefits and privileges.

“President Noynoy Aquino put aside partisanship when he endorsed and approved the foregoing laws notwithstanding the fact that I was their principal author representing the opposition,” said Lagman.

Mourn

ONE of the six Black Hawk helicopters delivered to the military crashed near the Crow Valley target range in Capas, Tarlac, on Wednesday night. The chopper forms part of the first delivery to the Philippine Air Force. In photo is the second batch of the Black Hawks delivered on June 7 this year in Clark, Pampanga. PAF PHOTO

all its fleet of Black Hawks.

The crashed aircraft was among the six Black Hawk units that formed part of the first batch of delivery to the PAF from its Polish manufacturer under the military’s modernization program.

A second batch consisting of five units of the same helicopters arrived early this month, but they have not

been formally accepted yet by the PAF, which is under contract to acquire 16 Black Hawks.

Mariano said night proficiency training is part of PAF’s extensive preparation for both aircraft and crew prior to the deployment to different unified commands.

The Department of National Defense and the Armed Forces of

the Philippines were saddened over the crash, which took place just several months after the delivery of the aircraft.

“We at the Department of National Defense extend our deepest sympathies to the families of the three pilots and three airmen of an S-70i Black Hawk helicopter of the Philippine Air Force who perished when their plane crashed in the vicinity of Crow Valley near Clark Air Base, Pampanga,” Defense Secretary Delfin Lorenzana said in a news statement.

“In the meantime, the entire Blackhawk fleet are grounded while the incident is being investigated,” he added.

Aside from the Black Hawks, PAF’s fleet of Hueys also remain grounded following a crash in Bukidnon in January this year.

Earlier, a highly placed source said at about 1 a.m., the crash site was located at Sitio Manabayukan, Barangay Sta. Juliana in Capas, Tarlac where three mangled bodies have been recovered and three more were missing but presumed dead.

According to the source, Sitio Manabayukan is an village inhabited mostly by Aetas.

Privacy commission boosts digital forensic capabilities

House leaders say ‘landmark’ legislations hallmark Noynoy Aquino administration URING his term, President Benigno Simeon “Noynoy” Aquino III signed into law several controversial but transformational measures.

One of these laws was the Sin Tax Reform Act, which Aquino certified as urgent.

The law restructures the excise tax on “sin” products such as alcohol and tobacco. The added revenue will help fulfill the administration’s Universal Health Care agenda—by funding the expansion of PhilHealth and the provision of more medical assistance and health enhancement facilities across the country while supporting the livelihood of the country’s tobacco farmers.

K-to-12 is a fulfillment of the former leader’s long-standing agenda to make education the central strategy for investing in the country’s most important resource: the Filipino people.

The passage of the Enhanced Basic Education Act of 2013 places the country’s basic education curriculum on par with international standards.

President Aquino also made history when he signed the controversial Responsible Parenthood and Reproductive Health Act of 2012, a measure that provides Filipinos with the reproductive health (RH) information, services, and care necessary to planning and raising families in a responsible and safe manner.

According to Albay Rep. Edcel Lagman, the controversial RH law took 13 long years to enact and is a rights-based, healthoriented, and development-driven law that ensures women’s right to safe motherhood and reproductive self-determination.

Also signed during Aquino’s term was the “Anti-Enforced or Involuntary Disappearance Act of 2012” or RA 10353 on December 21, 2012, which is a model statute in the Asia-Pacific region criminalizing as

Editor: Vittorio V. Vitug • Friday, June 25, 2021 A3

MEANWHILE, Speaker Lord Allan Velasco said the entire House of Representatives extends its heartfelt sympathies and condolences to the Aquino family, friends and colleagues in this difficult time.

“The nation mourns with you and celebrates the life of a man who dedicated his service to the country as a three-term Representative of the Second District of Tarlac in Congress, Senator, and President of the Republic of the Philippines,” said Velasco.

Albay Rep. Joey Salceda said his classmate, President Aquino, will be remembered for his sincere desire to serve the country, the best way he can.

“He sought to make governance more modern and responsive. It was under President Aquino’s term that budgeting became more participatory through the bottomup budgeting [BUB] system,” Salceda said.

Jovee Marie N. Dela Cruz

“This is in recognition of the significant synergies and complementarity on the respective duties and functions of both agencies in the protection of data privacy and cyber security,” NPC said.

Under the agreement, CICC will provide the NPC resource persons, training programs, modules and materials covering several topics.

These include techniques and best practices in digital investigations; admissibility, chain of custody and preservation of digital evidence; and operation, maintenance and full utilization of the digital forensic equipment. Privacy Commissioner Raymund Enriquez Liboro said that

the partnership shows both parties’ interest in safeguarding the data privacy and cyber security.

“With professional and ethical competence and integrity as our touchstones, both agencies will utilize and maximize the resources of the government for the utmost benefit of the people we serve,” he added.

For its part, the NPC will hold data privacy briefings, seminars and workshops for CICC personnel.

Both parties may also conduct joint data security and privacy probes to further their cooperation.

“In this undertaking between the NPC and CICC, any data received by one from the other shall be treated

as confidential information, which may not be disclosed to any person without written authority from the other party,” the privacy agency said.

The NPC and CICC, in addition, should adhere to the provisions of the Data Privacy Act of 2012 and Cybercrime Prevention Act of 2012.

Liboro, in a recent event, highlighted the importance of data governance, especially during a pandemic when sharing and keeping information in a safe and secure manner is much more needed.

The privacy commissioner said there should be “focus on data governance and expose the gaps in overall Philippine data management.”

A4 Friday, June 25, 2021 • Editor: Vittorio V. Vitug

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Report: Population rise, bigger farm yield, May polls to drive rice demand for MY 2021–2022

By Jasper Emmanuel Y. Arcalas @jearcalas

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HE country’s rice demand for market year (MY) 20212022 is expected to increase slightly to 14.6 million metric tons (MMT) due to higher domestic output and bigger demand for the staple, according to a Global Agricultural Information Network (GAIN) report.

The GAIN report noted that the higher production coupled by the increase in population and higher consumption during an election

year would drive the increase in the country’s rice demand.

The report, which was prepared by the United States Department of Agriculture Foreign Agricultural Services (USDA-FAS) in Manila, said the country’s milled rice output in the next MY would remain flat at 12.4 MMT. MY 2021-2022 starts in July and ends in June of next year.

Nonetheless, the GAIN report noted that the USDA-FAS in Manila has raised its production forecast for MY 2021-2022 by 100,000 MT from earlier estimate of 12.3 MMT.

“Improved yield is expected to offset lower area in MY21/22, boosted by renewed efforts by the Philippine Department of Agriculture’s [DA] Hybrid Rice Program,” the report, published recently, read.

The GAIN report cited DA’s Memorandum Circular 11 that emphasized the use of hybrid rice in key provinces wherein yield has shown at least 1 MT per hectare advantage over inbred rice.

The GAIN report noted that the DA’s hybrid rice program targets 15 provinces that have demonstrated high yields with top-performing

areas reaching to 12 MT per hectare (MT/HA) compared to the national average of 4 to 5 MT/HA. “The General Appropriations Act of 2021 allocated P15 billion [$315 million] to the Hybrid Rice Program, more than double last year’s approximately P7 billion [$147 million],” the GAIN report said.

“About 1.3 million HA are currently planted with hybrid rice, representing 27 percent of rice area planted and 36 percent higher than 2020’s level,” the report added.

The GAIN report maintained its rice import forecast for the Phil-

ippines in MY 2021-2022 at 2.1 MMT based on the current trade situation seen in the current MY 2020-2021.

Citing Bureau of Plant Industry (BPI) data, the report noted that rice imports from January to May declined by 11.8 percent to 1.03 MMT while SPS-IC applications for rice fell by 37.8 percent year-on-year to 1.94 MMT. “Industry contacts have also noted the increasing logistical costs to ship to the Philippines as a negative factor for imports,” the report added.

Another shipment of 2-M doses Sinovac vaccine arrive at Naia

By Recto Mercene @rectomercene

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WO million doses of Sinovac vaccine were airlifted by Cebu Pacific (CEB) flight from Beijing, China that touched down at the Ninoy Aquino International Airport (Naia) at 7:30 a.m. Thursday, June 24, 2021.

Secretar y Francisco Duque lll of the Department of Health (DOH), vaccine czar Secretary Carlito Galvez Jr., Manila Mayor Francisco “Isko” Moreno Domagoso and Vice Mayor Maria Sheilah “Honey” Lacuna Pangan were at the airport to welcome the arrival of the vaccines.

The DOH said out of the 2 million doses, 1.6 million doses are consigned to DOH, while the 400,000 doses are for the local government unit (LGU) of Manila.

Moreno and Pangan received

the shipment that was immediately transported to PharmaServ Express cold storage in Marikina City to maintain suitable vaccine temperature.

Last June 17, 2021, 1.5 million doses of Sinovac vaccine arrived at Naia on board another CEB flight, out of which 1 million doses were sent to DOH, while the 500,000 doses, the first private led vaccine shipment, were transported to PharmaServ Express cold storage in Marikina.

Meanwhile, three medical experts from Israel arrived at the country last June 20 headed by Dr. Avraham Ben-Zaken, Dr. Adam Segal and Dr. Dafna Segol to support the Philippines in its Anti-Covid Response and vaccination program and to share their expertise in ensuring the success in combatting coronavirus and the vaccination program in the Philippines.

SOME 2-million doses of Sinovac vaccines from Beijing, China, arrive at Naia . PHOTO COURTESY OF MIAA MEDIA AFFAIRS DEPARTMENT

NTF-ELCAC allots socioeconomic devt funds for ‘liberated’ barangays in Bicol

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UNDREDS of barangays in the Bicol region are set to receive funding from the Congress-approved Barangay Development Program (BDP) for their socioeconomic development until 2022 after gaining freedom from New People’s Army (NPA) influence and threats.

In a news statement, the National Task Force to End Local Communist Armed Conflict (NTF-ELCAC) has announced the release of funds to 15 barangays in Sorsogon; 26 in

Masbate, eight in Camarines Norte and several others.

National Security Adviser Secretary Hermogenes Esperon, vice chairman of the NTF-ELCAC, said by 2022 another batch of 282 barangays also in the Bicol region will be receiving projects under the BDP. Each barangay, certified as NPA-free, will be receiving P20 million worth of infrastructure and livelihood projects.

For 2021, President Duterte, chairman of the National Task Force to End Local Communist Armed

Conflict (NTF-ELCAC) and Congress approved the P16.4 billion for BDP. Esperon said the NTF-ELCAC underscored the inclusion of the Bicol region in the program because the presence of the Communist Party of the Philippines-NPA in the said areas has stunted the development of the provinces and the entire region.

Citing data from the Philippine Statistics Authority (PSA), Esperon said Bicol region posted 7 percent unemployment and 20.3 percent underemployment rates as of April 2021.

Also, poverty incidence in the region is at 27 percent despite a growth rate of 7.4 percent.

Esperon said the BDP package being implemented in Bicol is the outcome of the “meticulous” collaborative efforts between the local government, the security sector, private sector partners, and the national government in identifying the needs of stakeholders in the area.

“For us in the security sector, we recognize that the radicalization of vulnerable communities and recruit-

ment into the armed insurgency can be traced in part to poverty, hunger lack of access to education and economic opportunities, inadequate health care and infrastructure and injustice,” he said.

The Municipality of Casiguran, Sorsogon will be implementing the BDP in barangays San Pascual and Sta Cruz with a total funds of P40 million. Projects include barangay roads construction, electrification of some sitios, water supply system, and health station. Jovee Marie N. Dela Cruz

PNoy death before kidney transplant shocks nation “No words can express how broken our hearts are, and how long it will take us to accept the reality he is gone now,” the family statement said.

Former Sen. Bam Aquino said he was heartbroken by the death of his cousin. “He gave his all for the Filipino, he did not leave anything,” he said.

One of his former Cabinet officials, Rogelio Singson, said Aquino had been undergoing dialysis and was preparing for a kidney transplant.

Condolences poured in from Philippine politicians, the Catholic Church and others, including the US government, current President Duterte’s administration and Ferdinand Marcos’s daughter Imee who is now a senator.

Political legacy

AQUINO, who served as president from 2010 to 2016, was the heir to a political legacy of a family that has been regarded as a bulwark against authoritarianism in the Philippines.

His father, former Sen. Benigno Aquino Jr., was assassinated in 1983 while under military custody at the Manila International Airport, which now bears his name. His mother, Corazon Aquino, led the 1986 “people

power” revolt that ousted Marcos.

The army-backed uprising became a harbinger of popular revolts against authoritarian regimes worldwide.

Although a scion of a wealthy land-owning political clan in the northern Philippines, Aquino, who was fondly called Noynoy or PNoy by many Filipinos and had an image as an incorruptible politician, battled poverty and frowned over excesses by the country’s elite families and powerful politicians.

One of his first orders that lingered throughout his presidency was to ban the use of sirens in vehicles that carried VIPs through Manila’s notorious traffic jams.

Aquino, whose family went into exile in the US during Marcos’s rule, had turbulent ties with China as president. After China effectively seized a disputed shoal in 2012 following a tense standoff between Chinese and Philippine ships in the South China Sea, Aquino authorized the filing of a complaint before an international arbitration tribunal that questioned the validity of China’s sweeping claims in the strategic waterway on historical grounds.

“We do not wish to increase tensions with anyone, but we must let the world know that we are ready to protect what is ours,” Aquino said

in his State of the Nation Address to Congress in 2011.

The Philippines largely won. China refused to join in the arbitration and dismissed as a sham the tribunal’s 2016 ruling, which invalidated Beijing’s claims to virtually the entire South China Sea based on a 1982 UN maritime treaty and continues to defy it. Aquino’s legal challenge and the eventual ruling plunged the relations between Beijing and Manila to an all-time low.

He won a seat in the House of Representatives in 1998, where he served until 2007, then successfully ran for a Senate seat. Aquino announced his presidential campaign in September 2009 by saying he was answering the call of the people to continue his mother’s legacy. She had died just weeks earlier of colon cancer.

“I accept the responsibility of continuing our fight for the people.

I accept the challenge to lead this fight,” he said.

Economics grad

Vow vs corruption

BORN in 1960 as the third of five children, Aquino never married and had no children. An economics graduate, Aquino engaged in businesses before entering politics.

During the tumultuous presidency of his mother, Aquino was wounded by gunfire during a failed 1987 coup attempt by rebel soldiers trying to lay siege on the heavily guarded Malacañang presidential palace. Aquino was in a car with companions on the way back to the palace in Manila when they came under heavy gunfire. Three of his security escorts were killed and Aquino was severely wounded, with one bullet remaining embedded in his neck all his life because it was too dangerous to take out by surgery.

HE won by a large margin on a promise to fight corruption and poverty, but his victory was also seen as a protest vote due to exasperation with the corruption scandals that rocked the presidency of his predecessor, Gloria Macapagal Arroyo, who was detained for nearly five years and was released after the Supreme Court cleared her of the charges. Arroyo later successfully returned to political power, at one time serving as House speaker under Duterte.

Public expectations of Aquino were high and while he moved against corruption—detaining Arroyo and three powerful senators over corruption allegations—and initiated antipoverty programs, the problems in his disaster-prone Southeast Asian

nation, which remained wracked by decades-old communist and Muslim insurgencies, remained daunting.

Under Aquino, the government expanded a program that provides cash dole-outs to the poorest of the poor in exchange for commitments by parents to ensure their children would attend classes and receive government health care. Big business, meanwhile, benefited from government partnership deals that allowed them to finance major infrastructure projects such as highways and airports for long-term gain.

One of the legacies of the Aquino presidency was the signing of a 2014 peace deal with the largest Muslim separatist rebel group in the country, the Moro Islamic Liberation Front.

Bunglings

POLITICAL opponents have pounded on what they say were his administration’s bungling of a number of crises —the Luneta bus hostage crisis in 2009 that ended with eight Chinese tourists from Hong Kong shot dead by a disgruntled police officer, and delays in recovery efforts in the aftermath of Typhoon Haiyan in 2013.

Aquino drew flak in 2015 for his absence in a solemn ceremony at a Manila airbase, where air force aircraft brought the remains of 44

IPOPHL boosts capacity vs counterfeits

By Tyrone Jasper C. Piad @TyronePiad

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HE Intellectual Property Office of the Philippines (IPOPHL) has been beefing up its actions against counterfeiting by entering a partnership with the International Trademark Association (INTA).

The IP agency, in a news statement issued on Thursday, said that IPOPHL Director General Rowel S. Barba and INTA President Tiki Dare signed a memorandum of understanding (MOU) aimed at improving the capacities and awareness of the youth, businesses, online platforms and national authorities on Tuesday, June 22, 2021.

“We are thankful to INTA for always standing with IPOPHL in the past years. But today, we elevate our collaborative relations to a more solid partnership where we will be pursuing a multi-pronged strategy on capacity building, awareness, and global dialogue,” Barba said.

The international IP group will provide capacity building initiatives for IPOPHL examiners in evaluating emerging products in designs; trademarks; certification marks; non-traditional marks; famous and well-known marks.

“Both will also capacitate Customs to improve cross-border cooperation, seizures and destruction procedures; online platforms to adopt voluntary best practices in preventing and addressing online counterfeit trade: national enforcement authorities and brand owners to streamline coordination and swiftly intercept counterfeits; and court judges to broaden their knowledge on IP and keep abreast with international legal viewpoints on IP cases,” the agency added.

Barba said that both parties are targeting the youth, including those out of school, in raising awareness about IP. “We hope we can connect with the youth effectively and in a way that would capture their interest in creativity, innovation and all things IP,” he said.

IPOPHL and INTA also aim to equip the businesses with cost-effective brand management practices and global protection strategies.

Their MOU work plan is in place until 2022. It will undergo evaluation thereafter to pinpoint areas that need further work and identify potentially new issues that need resolving.

continued from a10 police commandos who had been killed by Muslim insurgents while staging a covert raid that killed one of Asia’s most-wanted terror suspects.

Aquino proceeded with a scheduled inauguration of a car manufacturing plant and his opponents said he lacked empathy.

Aquino retained high approval ratings when his single, six-year term ended in 2016. But the rise of the populist Duterte, whose deadly crackdown on illegal drugs has killed thousands of mostly petty drug suspects, was a reality check on the extent of public dissatisfaction and perceived failures during Aquino’s reformist rule.

Aquino campaigned against Duterte, warning he could be a looming dictator and could set back the democracy and economic momentum achieved in his own term.

After his presidency, Aquino stayed away from politics and the public eye. According to his former Public Works Secretary Singson, Aquino told him in a cell-phone message on June 3 that he was undergoing dialysis and was preparing for angioplasty, a delicate medical procedure to treat a blocked artery ahead of a possible kidney transplant.

Aquino is survived by his four sisters. With a report by AP

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Friday, June 25, 2021 A5

PNoy was a ‘champion’ of PHL tourism

By Ma. Stella F. Arnaldo

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@akosistellaBM Special to the BusinessMirror

HEN the brand campaign, “It’s More Fun in the Philippines” was presented to President Benigno S. Aquino III at Malacañang, he was very pleased.

Well, except for one tiny thing, the logo of the campaign featured a map of the Philippines over a banig with protruding lines. It bothered him enough to point this out, according to then Tourism Secretary Ramon Jimenez Jr. Aquino wanted the weaves altogether and smooth, “because he wanted the Philippines together,”

united. And he also reminded the presenters led by Jimenez and the advertising team of BBDO Guerrero, to make sure “not to forget Batanes,” in the map.

Such was Aquino’s particular attention to details, something that many of his Cabinet Secretaries and staff in Malacañang had come

to appreciate.

For someone who had admitted that he had not traveled much before he became President, Aquino became one of the ardent supporters of the tourism industry. He made sure the Department of Tourism (DOT) was ably represented in important forums here and abroad, counting on Jimenez as one of his administration’s key economic managers.

Aquino also made personal pitches for the country’s travel trade sector. During a working visit to the United Kingdom in 2012, he gamely posed for photos with Jimenez, and other government officials in the Philippine delegation, aboard a red London double-decker bus, wrapped with the slogan, It’s More Fun in the Philippines.

It was under Aquino that the DOT

Brownout contingency measures due today continued from a10 National Grid Corp., National Transmission Corp., Philippine Electricity Market Corp., Independent Electricity Market Operator of the Philippines and the Philippine Competition Commission, as well

as representatives of the distribution utilities and consumer groups other stakeholders.

The Senate Energy Committee earlier conveyed it will hold Department of Energy (DOE) to their pledge

to provide lawmakers a “comprehensive, short-term” road map of measures to avert a repeat of this month’s unscheduled brownouts in the next two months, when power reserves are thin. Butch Fernandez

Who remember Noynoy? Friends, foes, desaparecido kin, animal rights groups continued from a10

As a senator, his first privilege speech was on the enforced disappearance cases in the Philippines, focusing on the case of Jonas Joseph Burgos.”

Supreme Court Associate Justice Marvic Leonen described Aquino as “a kind man, driven by his passion to serve our people, diligent in his duties, and with an avid and consuming curiousity about new knowledge and the world in general.”

Ousted Chief Justice Maria Lourdes Sereno described Aquino as a “good man” and “responsible leader” who will be remembered “for how he invested in the longterm strengthening of justice and accountability.

Sereno replaced the late Chief Justice Renato Corona, who was removed from his post following impeachment proceedings in 2012. Corona was an appointee of Aquino’s predecessor former President Gloria Macapagal-Arroyo, and his impeachment was widely viewed as a form of political vendetta subtly encouraged

by Aquino.

Meanwhile, former Secretary of Foreign Affairs Albert del Rosario said: “In December of last year, I had a simple text message exchange with PNOY which read as follows: “I would like you to know, Mr. President, that there is only one person I truly look up to—and that would be YOU! Take care, Sir.” “Thank you for your kind words, Albert. Stay safe” came the simple response.

Another former ally who later parted ways with Aquino was former Vice President Jejomar Binay, who like Locsin worked with the late President Corazon Aquino. “Noynoy and I may have had political differences during the last few years of his term, but that will not diminish the many years of friendship between our families,” Binay said.

Senate President Pro Tempore Ralph Recto, described Noynoy Aquino as “a profile of courage [and] a man of convictions.”

Recto recalled that, “when politics clashed with the principles he [Aquino] held dear, he would choose the latter, even at the expense of friendships and alliances a leader must maintain in order to govern.”

For his part, Sen. Joel Villanueva

admitted he was “still shattered in a million pieces” on learning of Aquino’s demise.

Villanueva recalled that “If I was TESDAMAN, he was the TESDA Godfather. He [Aquino] believed in the great talents of our youth, waiting to be unlocked if given good training, the right breaks, and inspiring success stories. By ordering that they be trained, he invested in their dreams.”

Justice Secretary Menardo Guevarra, who served in the latter part of Aquino’s term as deputy executive secretary for legal affairs, said Aquino deserves the respect of the Filipino for serving the country from 2010 to 2016.

“Leading a country like the Philippines with enormous social, economic, and political challenges is a colossal task. Anyone who accepts this awesome responsibility, like the late President Benigno Aquino III, deserves our utmost respect, admiration, and gratitude,” he said.

“One of former President Aquino’s biggest decisions was to confront China in an international tribunal over the issue of the West Philippine Sea. Only history will judge if it was his greatest decision,” the DOJ chief added.

Retired Associate Justice Francis Jardeleza, who served as Solicitor General under the Aquino administration from 2012 to 2014 and was appointed in August 2014 by Aquino, shared Guevarra’s view.

Jardeleza said Aquino will be remembered for initiating the filing of arbitration on WPS before the Permanent Court of Arbitration (PCA), as then chief architect of the country’s foreign policy.

Senate Minority Leader Franklin Drilon, who served as Executive Secretary of the late President Corazon Aquino, said, “I have lost a dear friend and the nation has lost a gentleman who served his country well—with all honesty and sincerity and with the purest of intentions.”

Sen. Risa Hontiveros, an Aquino ally, said: “Like his parents, Ninoy and Cory, Noy dedicated his life to the ideals of democracy and the well-being of Filipinos, giving hope and moral courage when the country needed it most.”

Hontiveros recalled that Aquino was “well-respected as a statesman and fought enormous battles

for our national sovereignty. His strong stand led to our historic win at The Hague in 2016, leaving a legacy of hope and justice for generations to come.”

The Ateneo de Manila said in a statement: “Despite the ups and downs of his term, he will be remembered as a President who showed our nation and the world how leadership with competence, conscience, compassion, and commitment can bring about a marked difference in the lives of millions of people. He will also be remembered for representing the Philippines with honor and dignity, elevating our country’s status on the world stage.”

For her part, Quezon City Mayor Joy Belmonte said, “PNoy played a key role in strengthening our country’s economic foundations and was instrumental in solidifying institutional processes such as conditional cash transfer programs, bottom-up budgeting procedures, and universal health care services. Moreover, he became a symbol of good governance, anticorruption, and full transparency in government.”

Action for Economic Reforms (AER) said “Aquino was most instrumental in passing hard but critical reforms whose impacts are still being felt today. It cited his “key role in pushing for the landmark Sin Tax Reform Law in 2012, which created the momentum for sustained tax rate increases throughout the years. Aside from reducing smoking prevalence, this law created fiscal space, boosting revenues and leading to rapid economic growth until the pandemic hit. The Sin Tax Law served as the playbook for the passage of comprehensive tax reforms. Its financing also brought about the universal health care program, which we continue to strengthen today.”

For her part, Sen. Imee Marcos, whose Marcos political clan had been at odds with the Aquinos for years, described Noynoy as a “kind and simple soul,” whom she got to know well when they were both freshmen legislators in Congress.

And the PETA animal rights activists said the former President showed genuine concern over the plight of the elephant Mali at the Manila Zoo. With reports by Recto Mercene, Butch Fernandez, Joel San Juan

PRESIDENT Benigno S. Aquino III on board a London tour bus decked with the “It’s More Fun in the Philippines” slogan during a working visit to the United Kingdom in June 2012, as the Department of Tourism rolled out its brand-new promotions campaign globally. With him is the late Tourism Secretary Ramon Jimenez Jr. MALACAÑANG PHOTO

drew up its first National Tourism Development Plan for 2011-2016.

Its targets were deemed too ambitious even by local tourism leaders, but only because many of the targets hinged on the projects and initiatives of other government agencies dealing with infrastructure, aviation and security.

So while many of its visitor and revenue targets were not met due to sputtering shortcomings in the infrastructure sector, air connectivity issues, along with the calamities and diplomatic skirmishes that affected inbound arrivals, Aquino ended his term in 2016 with a then historic-high of almost 6 million foreign tourists and visitor receipts reaching P230.13 billion, from 3.9 million arrivals and P4.05 billion in 2011.

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Friday, June 25, 2021

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

China sues Australia at WTO over tariffs, aggravating ties

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hina sued Australia over anti-dumping measures on some Chinese goods, further ratcheting up tensions between the two nations.

China filed a lawsuit at the World Trade Organization over Australian anti-dumping and anti-subsidy measures on Chinese exports of railway wheels, wind towers, and stainless steel sinks, the Ministry of Commerce said Thursday in Beijing. This would be the third recent WTO case between the two, after Australia sued over

Chinese tariffs on wine and barley.

Relations between the two sides have steadily worsened s i nce 2018 , w he n A u s t r a l i a ba r red Hu awei Tec h nolog ies Co. from building its 5G network, and went into freefall last year as Prime Minister Scott Morrison led calls for an independent probe into the origins

of the coronav irus that first emerged in the Chinese city of Wuhan. Beijing has responded with tariffs and restrictions on imports of coal, barley, lobsters and wine.

China opposes nations abusi ng t rade remedy mea su res, which damage the legitimate rights of Chinese companies and undermine the authority of WTO r ules, Ministr y of Commerce Spokesman Gao Feng told reporters in Beijing Thursday. China hopes Australia can avoid distorting trade in relevant goods and bring this back to the normal track as soon as possible, he said.

The Chinese announcement comes after Morrison said earlier

this month that his government wanted to restart dialog with Beijing.

When it imposed tariffs in March for five years on most shipments of Australian wine, China said the wine had been subsidized and sold under market value, a view that’s been rejected by the government Down Under. Australia then said last week it was taking China to the WTO over tariffs on wine, which China imposed in March.

“I want to stress that China plays by WTO rules,” Ministry of Foreign Affairs Spokesman Zhao Lijian told reporters in Beijing. “We handle issues according to those rules.” Bloomberg News

Last Apple Daily newspaper edition sold out across HK

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ONG KONG —Across Hong Kong, people lined up ea rly T hu rsd ay to buy the last print edition of the last remaining pro-democracy newspaper.

By 8:30 a.m., Apple Daily’s final edition of 1 million copies was sold out across most of the city’s newsstands. The newspaper said it would cease operations after police froze $2.3 million in assets, searched its office and arrested five top editors and executives last week, accusing them of foreign collusion to endanger national security—another sign Beijing is tightening its grip on the semi-autonomous city.

In recent years, the newspaper has become increasingly outspoken, criticizing Chinese and Hong Kong authorities for limiting the city’s freedoms not found in mainland China and accusing them of reneging on a promise to protect them for 50 years after the 1997 handover from Britain.

The pressure on the paper— and Hong Kong’s civil liberties— increased after authorities responded to massive protests in 2019 with a sweeping national security law—used in the arrests of the newspaper employees—and revamped Hong Kong’s election laws to keep opposition voices out of the legislature.

“This is our last day, and last edition, does this reflect the reality that Hong Kong has started to lose its press freedom and freedom of speech?” said an Apple Daily graphic designer, Dickson Ng. “Why does it have to end up like this? Why is there not going to be the Apple (Daily) newspaper any more in Hong Kong?”

To a big applause, associate publisher Chan Pui-man told staff who gathered around the newsroom Wednesday night: “You’ve done a

People queue up for the last issue of Apple Daily at a newspaper booth at a downtown street in Hong Kong on Thursday, June 24, 2021.

Hong Kong’s sole remaining pro-democracy newspaper has published its last edition. Apple Daily was forced to shut down Thursday after five editors and executives were arrested and millions of dollars in its assets were frozen as part of China’s increasing crackdown on dissent in the semi-autonomous city. AP/Vincent Yu

great job, everyone!” Apple Daily printed 1 million copies for the final edition, up from the usual 80,000. W hile pro-democracy media outlets still exist online, it was the only print newspaper of its kind left in the city.

On Wednesday night, over 100 people stood outside Apple Daily’s office building in the rain to show their support, as employees worked on the final edition, taking photographs and shouting words of encouragement.

In the early hours of Thursday, residents in the city’s Mong Kok neighborhood in the workingclass Kowloon district began lining up hours before the paper hit the stands.

Thursday’s edition splashed an image of an Apple Daily employee in the office waving at supporters surrounding the building, with the headline “Hong Kongers bid a

painful farewell in the rain, ‘We support Apple Daily.’”

Apple Daily’s closure marks a “dark day for press freedom in Hong Kong,” said Thomas Kellogg, executive director of the Georgetown Center for Asian Law. “Without Apple Daily, Hong Kong is less free than it was a week ago. Apple Daily was an important voice, and it seems unlikely that any other media outlet will be able to fill its shoes, given growing restrictions on free speech and freedom of the press,” he said.

Br it i sh Fore i g n S e c ret a r y Dominic Raab said on Twitter that the national security law is being used to curtail freedom and punish dissent.

The forced closure by Hong Kong authorities “is a chilling demonstration of their campaign to silence all opposition voices,” Raab said.

G e r m a n Fore i g n M i n i s t r y s p ok e s p e r son M a r i a A deb a h r ca l led the closure a “ hard blo w a g a i n s t pre s s f re e d om i n Hon g K on g.”

“In our view this is another sign that pluralism, freedom of opinion and freedom of the press in Hong Kong are subject to erosion, which can particularly be seen since the National Security Law came into force,” Adebahr said.

It was the first time the national security law had been used against journalists for something they published.

More than 100 people, including the city’s most outspoken pro-democracy advocates, have been arrested under the security legislation. They include media tycoon Jimmy Lai, who founded Apple Daily in 1995. Many others have fled abroad. AP

Israel delays foreign tourism in bid to ‘douse’ Covid variant upsurge

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srael postponed the reopening of its borders to foreign tourism until Aug. 1 as it tries to snuff out a surge of coronavirus infections it attributes largely to the incursion of the highly transmissible delta variant.

“We have decided to treat this as a new outbreak. We intend to cut it off here, take a pail of water and douse the flames while they are still small,” Prime Minister Naftali Bennett said late on Tuesday after a tour of the national airport.

In addition to delaying the return of incoming tourism by a month, the government on Wednesday reinforced quaran-

tine regulations, ordered more daily testing and introduced a 5,000-shekel ($1,535) fine on parents whose children don’t quarantine when required. Mask wearing, scrapped just days ago, was reimposed at airports, border crossings and medical facilities, and will be required in all closed public places if new daily infections don’t fall below 100 soon.

New cases were down to the single digits in mid-June, but this week topped 100 for three days straight. Most of the new cases have been unvaccinated children and people returning from abroad. Some of the sick

had been fully vaccinated with the Pfizer-BioNTech vaccine.

W hile the delta Covid strain, first reported in India, is the most infectious to date, almost all cases in Israel have been asymptomatic or mild.

Bennett’s swift action pointed to a lesson learned from Israel’s devastating experience under then-premier Benjamin Netanyahu, when a low caseload following a first lockdown led to an abandonment of caution. New infections ballooned to more than 11,000 a day, sparking two more lockdowns and tamed only by the world’s most aggressive vaccination campaign.

More than half of Israel’s population has been inoculated. Israel approved vaccines for 12- to 15 year-olds early this month, but only several thousands have been immunized.

Still, hospitals that were previously overrun are now treating only a few dozen Covid patients.

Eran Segal, a Weizmann Institute scientist, told 103FM radio that while there was no immediate need for panic, Israel did need to monitor developments. On his Twitter page, Segal said that despite the uptick in infections, “there are still practically no cases of severe illness.” Bloomberg News

Protesters do the three-finger salute at a demonstration to mark the 89th anniversary of the abolition of the absolute monarchy in Bangkok. Hundreds of activists marched to the parliament to push for “a constitution that comes from the people.” Bloomberg

Thai protesters return as parliament eyes charter recast, electoral changes

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rotesters in Thailand have returned to the streets to demand the government’s resignation as the parliament discusses the amendment of the country’s constitution and changes to its electoral system.

At least five groups are planning to hold demonstrations across Bangkok on Thursday, calling for Prime Minister Prayuth ChanOcha to quit as well as commemorating the Siamese Revolution that marked the end of absolute monarchy in 1932. Police have warned protesters against gatherings, on the same day the parliament is due to vote on amendments that largely ignore their demands for a major overhaul.

Hundreds of activists marched to the parliament to push for “a constitution that comes from the people,” and rejected the charter that’s part of “the mechanisms leading to the continuation of the current regime,” with a call to amend sections relating to the monarchy, which was already rejected by the parliament. Several events are being planned this afternoon.

It’s the first time in six months that demonstrators descended on the Thai capital after two waves of Covid-19 outbreaks this year prevented any large gatherings.

Protest leaders have said they plan to draw fresh support from citizens frustrated with the government’s handling of the outbreaks and vaccine rollout. “ T he leaders a re count ing on wider support. They’ ll tr y and appeal to a broader range of constituents, highlighting a number of shortcomings of the government, from its autocracy to its incompetence,” said Christopher Ankersen, associate professor at New York University’s School of Professional Studies Center for Global Affairs. “We can expect a long summer of protests, arrests, intimidation and violence ahead.”

T he ret u r n of l a rge - sc a le protests to Bangkok presents a challenge to Prayuth’s government, which is trying to revive the economy, and risks upending the plan to reopen the country as early as October for the crucial tourism sector.

The youth-led, pro-democracy movement began gaining momentum in mid-2020, reaching its peak late last year when hundreds of thousands of demonstrators joined calls for the government’s resignation and increased transparency and accountability from the monarchy. The protesters broke a long-held taboo about publicly discussing the royal family, which sits at the apex of power in Thailand.

In response, the government has intensified its crack down on demonst rators, a r rest i ng leaders for sedition as well as royal defamation, which is punishable by as many as 15 years in prison for each instance. The government has said that it’s simply enforcing the law and

hasn’t targeted any groups in particular.

“The repressive response from the state indicates the fear of those who hold power. The sophistication and steadfastness of response by activists indicates that they’re not swayed by this fear,” said Tyrell Haberkorn, professor of Southeast Asian studies at the University of WisconsinMadison. “As the impact of the pandemic on the economy and future opportunities continues to intensify, citizens are likely to question how well authoritarianism is working and call for change.”

Charter amendment

A mong the key demands of youth-led groups is the overhaul of the constitution, which was drafted during the military regime, to make it more democratic. The protesters allege the charter was instrumental in helping coup leader-turned-premier Prayuth and his backers retain power after the 2019 elections.

Earlier this week, lawmakers voted to endorse a bill that paves the way for a national referendum on rewriting the constitution, but the parliament likely won’t pursue more significant changes now as it focuses for the next several months on making minor tweaks that don’t require public endorsement. On Thursday, lawmakers are expected to vote on the first reading of 13 proposed drafts for the charter amendment.

“The amendment from the key ruling party doesn’t respond to the protesters’ demands at all,” said Punchada Sirivunnabood, a visiting fellow at Singapore’s ISEAS-Yusof Ishak Institute who researches Thai politics. “It’s doing quite the opposite: helping the establishment retain power and prolonging the regime.”

One of the key proposals that will likely pass is a return to the previous election system that involves voters casting two ballots—one for a candidate and one for a political party—which would give bigger parties more advantages in future polls, she said. Punchada said only proposals from Palang Pracharath party, which backs Prayuth, will likely pass.

T he ot her ke y proposa l— which the protesters a lso sought—is the reduction of powers held by the appointed Senate, which plays a role in electing a prime minister and was viewed as helping Prayuth maintain his premiership. But the amendment isn’t likely to muster enough support from the military-backed parliament.

“All this is window dressing,” New York University’s Ankersen said. “Powers of the Senate, the 20year national plan, the eligibility of non-elected prime minister, and the role of the monarchy—those are really the bedrock of the current political system that the establishment is going to make sure aren’t changed.” Bloomberg News

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Bipartisan senators reach plan on $953-B infrastructure deal

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ASHINGTON—A bipartisan group of senators reached a tentative framework on a $953 billion infrastructure deal Wednesday ahead of a crucial meeting with President Joe Biden at the White House.

Biden’s top aides met with senators for back-to-back meetings on Capitol Hill and later huddled with House Speaker Nancy Pelosi and Senate Majority Leader Chuck Schumer as the president reaches for a signature domestic achievement with his sweeping $4 trillion infrastructure plans. While the plan from the group of 21 senators is far less, with $559 billion in new spending, it would launch a broader process this summer that could open the door to Biden’s big proposals. “ We’re ver y e xc ited about t he prospect of a bipartisan agreement,” Pelosi said.

The group of senators, Republicans and Democrats, had been narrowing on a smaller but still sizable $1 trillion package of road, highway and other traditional infrastructure projects. The tentative framework is now $20 billion less after a shift in funds for broadband Internet, according to details from a person familiar with the proposal who spoke on condition of anonymity to discuss the negotiations.

They have struggled over how to pay for the new spending.

Biden invited members from the group of senators to the White House on Thursday.

“The group made progress towards an outline of a potential agreement, and the President has invited the group to come to the White House tomorrow to discuss this in person,” White House press secretary Jen Psaki said late Wednesday.

One member of the group, Republican Sen. Rob Portman of Ohio, said it was time for the group to do outreach to get more senators on board with their plan.

“In good faith, we tried to get there.

We didn’t agree on everything, but we were able to get there,” Portman told reporters on Capitol Hill as he left an evening meeting with the other sena-

tors and White House team.

Biden has sought $1.7 trillion in his American Jobs Plan, part of nearly $4 trillion in broad infrastructure spending on roads, bridges and broadband internet but also the so-called care economy of child care centers, hospitals and elder care.

With Republicans opposed to Biden’s proposed corporate tax rate increase, from 21 percent to 28 percent, the group has looked at other ways to raise revenue. Biden rejected their idea to allow gas taxes paid at the pump to rise with inflation, viewing it as a financial burden on American drivers.

Psaki said the senior staff to the president had two productive meetings with the bipartisan group at the Capitol. The White House team was huddled late into the evening with the Democratic leaders.

The White House said Pelosi and Schumer and the top administration aides agreed on Biden’s goal of infrastructure investments without raising taxes on anyone who makes under $400,000.

According to a White House readout of the meeting, the leaders talked with Budget Acting Director Shalanda Young, National Economic Council Director Brian Deese and Domestic Policy Council Director Susan Rice, and they discussed the two-track approach ahead—a reference to the smaller bipartisan deal emerging from the group alongside a more sweeping plan of Democratic priorities that Congress is now drafting.

Schumer said the leaders “support the concepts” they have heard from the bipartisan negotiations.

The Democratic leaders also insisted on the two-part process ahead, starting with initial votes in July to

‘Scary’ Sydney Covid cluster blamed on delta variant grows

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Y DN E Y— Sy d ne y w a s goi n g through one the “scariest” times of the pandemic as a cluster of the highly contagious delta variant infects more people, an Australian state leader said on Thursday.

New South Wales Premier Gladys Berejiklian said she tested negative for the coronavirus after her Agriculture Minister Adam Marshall tested positive Thursday. Health Minister Brad Hazzard is self-isolating as a close contact of a suspected Covid-19 case in Parliament House.

Sydney tightened pandemic restrictions on Wednesday, but Berejiklian said Australia’s largest city did not yet need to lock down further.

“Since the pandemic has started, this is perhaps the scariest period that New South Wales is going through,” Berejiklian told reporters.

“It is a very contagious variant but at the same time we are at this stage comfortable that the settings that are in place are the appropriate settings,” she added.

Authorities say the cluster spread from a Sydney airport limousine driver who tested positive last week. He was not vaccinated, reportedly did not wear a mask and is suspected to have been infected while transporting a foreign air crew. The cluster had grown to 36 cases by Thursday.

Police were considering charging the driver and his employer with a range of offenses, Police Force Deputy Commissioner Gary Worboys said.

Marshall tested positive after dining with three government colleagues on Monday at a Sydney restaurant after an infected diner.

All four lawmakers had been attending Parliament as recently as Tuesday.

Several government ministers, lawmakers and staff were told to get tested and isolate until July 6 after a positive case attended a political party dinner in Sydney on Tuesday. Australia’s Deputy Prime Minister Barnaby Joyce also attended the dinner, but was allowed to attend Parliament in the national capital Canberra on Thursday after taking medical advice.

Australian states have closed their borders to travelers either from parts of Sydney or from anywhere in New South Wales. And New Zealand has stopped quarantine-free travel from New South Wales for at least three days.

Victoria state said it would continue to ease pandemic restrictions in its capital Melbourne following a fourth lockdown despite a Melbourne resident testing positive after returning from Sydney on Sunday.

Australia has been relatively successful in containing coronav irus clusters, although the delta variant first detected in India is proving more challenging.

The pandemic has claimed 910 deaths in Australia, which has a population of 26 million. The only Covid-19 death since October was an 80-year-old man who became infected overseas and was diagnosed in hotel quarantine. AP

consider the bipartisan deal and to launch the lengthy procedure for the Democrats’ proposal, now drafted at nearly $6 trillion.

The Democrats’ bigger proposal would run through the budget reconciliation process, which would allow passage of

Biden’s priorities by majority vote, without the need for support from Republicans to overcome the Senate’s 60-vote threshold. It would require multiple rounds of voting that are likely to extend into fall.

Schumer said, “One can’t be done without the other.”

That’s a signal to both parties of the road ahead. Liberal Democrats have been wary of the bipartisan effort because they see it as insufficient and worr y it will take the place of Biden’s bigger plan. Republicans are also skeptical of passing a bipa r t isa n bi l l

only to be faced w ith an even big ger Democrat ic pl a n. “ We got our framework.

We’re goi ng to t he W h ite House,” Sen. Mark Warner, D -Va., told repor ters. “ We wouldn’t be going to the White House if we didn’t think it has broad-based support.” AP

A8

Friday, June 25, 2021 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Rest in Peace, Mr. President

A

lthough he comes from a prominent clan of politicians, Benigno C. Aquino III was an unlikely selection to become the 15th President of the Philippines.

His father and mother were two of the most famous political leaders in the country that achieved global status due to design and destiny. His great-grandfather, Servillano Aquino, served as a delegate to the Malolos Congress; his paternal grandfather, Benigno Aquino Sr., served as Speaker of the House of Representatives, and his maternal grandfather, Jose Cojuangco, was also a member of the House of Representatives.

Early childhood pictures of “Noynoy,” surrounded by his sisters, show him looking like that “skinny-kid who sits at the back of the class.” The Ateneo de Manila University graduation picture shows a young man with confidence and ambition. The man he eventually became was probably somewhere between the two images.

After the assassination of his father, he returned to the Philippines from exile in the US and worked in the private sector including for family-owned businesses. But he could not escape the political chaos that disrupted his early life. Eighteen months into the presidency of his mother, rebel soldiers staged an unsuccessful coup attempt to lay siege to Malacañang Palace. Aquino came under fire. Three of Aquino’s security escorts were killed. Five bullets hit him, one of which was still embedded in his neck when he died yesterday.

In 1998, he followed in his family’s footsteps and became a Congressional Representative. After his third term, he went on to the Philippine Senate. His time in the Philippine Congress may have surprised many because in a sense, he was not “his father’s son.” He was not the charismatic leader who sought the spotlight either personally or professionally.

He wanted to reform the way government worked, both in terms of public officials being accountable for their actions and for the government institutions being more responsive to the people. The fact is that most of his “reform-oriented bills” were not passed into law, saying much about the Philippine political process and much about himself.

The Aquino presidency was not without controversy. He and the people he trusted made mistakes. But looking back, the cliché campaign slogans of “Kayo Ang Boss Ko” and “Daang Matuwid” were genuine when you examine the man’s life.

His family and his personal formative years were destroyed by both politicians and others in power outside of government who served only themselves and their personal corruption.

We in the press and media get a unique opportunity to share time with the “person” and not just the “public persona” and of course we form our own opinions. There are those that will immediately say that Benigno C. Aquino III was a “great” if not the “greatest president” of the Philippines.

“Noynoy” would probably be flattered by those comments. But more likely, he would be more pleased being remembered as a good man who tried his best to be a good president, succeeding at times and also falling short as all men and women do.

After his term of office, he retired from most public life perhaps in part due to ill health. It might be interesting to speculate what President Aquino might have become 10 or 20 years down the road as an elder statesman. We will never know.

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Sonny M. Angara

Better Days

T

hree years ago, President Duterte signed into law Republic Act 11036 or the Mental Health Act, which we co-authored and helped pass along with my colleagues Senators Tito Sotto, JV Ejercito, Joel Villanueva, Risa Hontiveros, Loren Legarda, Antonio Trillanes and Bam Aquino.

T his landmark leg islation strengthened the country’s response to what many have dubbed a “silent killer” by mandating that mental health services are provided at all levels, from tertiary hospitals down to our community health centers. It also integrated and promoted the importance of mental health in our educational institutions; mandated the formulation of mental health programs and policies in the workplace; and ensured PhilHealth coverage for mental health conditions.

When we co-sponsored the measure, we hoped to help Filipinos overcome mental health’s stigma and emphasize the truth that such illnesses, just like any other physical ailment, can be adequately addressed—often through professional help. We also aimed to assure the public that whenever the need arises, there are mental health interventions they can access.

Back then, like the rest of the world, we had no inkling about the crisis that we all find ourselves in. To-

day, the ongoing Covid-19 pandemic disrupted not only the country’s already fragmented health system but also everyone’s day-to-day lives.

Understandably, the radical changes that came, along with the economic instability and uncertainty brought about by safety protocols and health restrictions, have taken a toll on the mental health of our countrymen.

In fact, the International Federation of Red Cross and Red Crescent Societies have called on countries to ramp up their psychological support to health workers and others experiencing psychological problems.

The IFRC noted that while mental health is not particularly high in the agenda for eradicating the pandemic, addressing this problem is very important as this impacts millions of people.

The Philippines is not exempt.

The National Center for Mental Health reported that the number of calls its hotline received for the first quarter of the year almost doubled when compared to 2020—from

1,540 in January to March 2020 to around 3,819 calls in the same period for 2021. The Department of Health (DOH) also cited that the average monthly calls to the crisis hotline have reached over 1,000. And of that number, a monthly average of 374 were suicide-related.

Our health-care workers are among the most vulnerable in terms of psychological stress. In fact, a National Center for Biotechnology Information (NCBI) article cited multiple studies where health-care workers “expressed degrees of moderate and severe depression” in addition to the prevalent stress due to the pandemic. In the Philippines, many of our health professionals have been away from their families for months.

And while most of them have already been vaccinated, the hesitation of visiting loved ones remains since most of their family members have yet to be inoculated.

The crisis is also exacting a heavy toll on the country’s youth. In our consultations with students from Sultan Kudarat, Zamboanga City, General Santos City, Bulacan, Laguna, Pangasinan, and Batangas, among their numerous concerns was their mental well-being. According to these students, the pandemic is not only hindering their interactions with classmates and friends but also causing them anxiety on how Covid-19 will impact their employment opportunities in the near future.

The DOH and the Department of Social Welfare and Development, as well as the private sector, have been diligently working on addressing the

mental health concerns of Filipinos.

Nevertheless, this crisis is expected to linger beyond the pandemic.

Hence, more action is required from all sectors of society.

We are inspired by the report of the DOH that they are piloting a Mental Health Playbook which they hope would be launched this year.

Developed in partnership with the Philippine Guidance and Counseling Association, Peer Organization of the Philippines, and the Youth for Mental Health Coalition Inc., this playbook aims to help establish peer support groups as an early mental health intervention among the youth. Moreover, we hope that the PhilHealth Mental Health Benefit package, which reportedly is in its final stages, will be rolled out soon, given that the current package only covers hospitalization.

As the pandemic rages, we should ensure that Filipinos are provided with a safe space to express their emotional concerns and are afforded the opportunity to access muchneeded mental health interventions.

In short, as our country moves from response to recovery, our mental well-being should also be considered a priority.

Sen. Sonny Angara has been in public service for more than 16 years. He has authored and sponsored more than 200 laws. He is currently serving his second term in the Senate.

The National Center for Mental Health crisis hotline can be reached through 1553 (Luzon-wide, landline toll-free), 0966-351-4518, 0917-899-USAP (8727) and 0908-639-2672.

E-mail: sensonnyangara@yahoo.com| Facebook, Twitter & Instagram: @sonnyangara

Exploring Philippine seas today, for the generations of tomorrow

Lourdes M. Fernandez

Senior Editors

Creative Director Chief Photographer

Mental health–A continuing priority

By John Law

I

N March 2021, a leading Philippine oceanographer and an American explorer, together, reached the deepest point of the Philippine trench—a historic voyage to one of the least-explored places on Earth. By partnering on marine issues, whether on marine sustainability or maritime domain awareness, we protect and explore the world’s interconnected waters, including the Philippine seas.

This June, we celebrate not only World Oceans Month, but also the 75th anniversary of diplomatic relations between the United States and the Philippines. Our cooperation on maritime issues stands out for its incredible promise. Since the launch of the Peace Corps and USAID in the Philippines 60 years ago, Americans and Filipinos have been working together to protect Philippine marine spaces and marine species. In the years to come, we must redouble our efforts to protect the richness of Philippine seas.

When Dr. Deo Florence Onda and Victor Vescovo reached the Emden Deep, even there, they discovered ocean plastics. Plastic debris in our

oceans is a global problem that costs the world as much as $2.5 trillion annually. Earlier this month, during a marine-focused “Oceans of Opportunities” conference, the US Center for Strategic and International Studies and University of Philippines International Maritime Law of the Sea characterized the Philippines’ marine environmental situation as “stark.” They noted that the country and its neighbors are “literally choking on plastic debris,” 750,000 metric tons of which leach into the sea from the Philippines every year.

However, in the face of this challenge, one expert claimed US-Philippine marine cooperation is one of the “most productive endeavors we

have seen historically.” Together, we are improving waste management and developing innovations in packaging and recycling to keep debris out of the ocean, while raising community awareness to change handling of plastic waste. Our work to make Philippine waters plastic-free will revive coral reefs, strengthen fish populations, clean up the beaches, support tourism, and reduce greenhouse gases in the atmosphere.

Illegal, unreported, and unregulated fishing costs the Philippines an estimated P63 billion a year and endangers the marine species that produce food and income for millions of Filipinos. We’ve partnered with the Philippine Bureau of Fisheries and Aquatic Resources and local government units throughout the Philippines to help stop these destructive practices. Through USAID Fish Right, we’re also working to ensure safe, legal fishing practices are not only sustainable but also profitable for Filipino fisherfolk.

Because waters are all connect-

ed, we are committed to increasing regional and multilateral cooperation on marine issues. Through regional projects like USAID Oceans, events like the Leaders’ Summit on Climate, and organizations like the Young Southeast Asian Leadership Initiative, we are bringing international partners together to take action to improve the management and sustainability of our shared resources.

This past April, a team of Filipino and American explorers jointly discovered a sunken Navy destroyer, the USS Johnston, lost during the Battle off Samar on October 25, 1944, as Americans and Filipinos fought to liberate the Philippines during World War II. The shipwreck, the deepest of its kind at 21,000 feet underwater, presents a unique opportunity to learn more about marine habitat and history. This amazing discovery, more than 75 years after the USS Johnston was thought lost for good, highlights the need for more research and See “Exploring,” A9

Opinion BusinessMirror

www.businessmirror.com.ph

MVP: The boy who made good

Time is our enchantment Tito Genova Valiente

annotations

Manny F. Dooc

TELLTALES

I

’M the least qualified to write about this famous man whose extraordinary achievements in everything he does is worth extolling. His life is a fulfillment of the Filipino dream, if there is such a thing. He embodies success in his academic pursuit, professional career, business management and sports development. After graduating Cum Laude with a degree in Economics at the Ateneo de Manila University, he won a scholarship competition to study in Wharton School of the University of Pennsylvania in 1968. Wharton is the world’s oldest collegiate business school and is regarded as one of the most prestigious business schools in the whole world.

He definitely imbibed Wharton’s motto: “Knowledge for action.” His life is a dynamic force that has given birth to business ideas and entrepreneurial efforts, which helped develop our economy. He has undertaken business initiatives and pursued endeavors that few of his peers would dare touch. He runs and manages a business conglomerate with a diverse set of companies, which provide quality and affordable goods and services to the Filipinos.

Manuel Velez Pangilinan, more popularly known as MVP, has been the most valuable player in every activity that he takes part in. As Chief Executive Officer and Managing Director of Hong Kong-based First Pacific Co., Ltd. and Chairman of Metro Pacific Investments Corp., a Philippine-based investment management and holding company, which owns, among others, the PLDT, Smart Communications, Meralco, Maynilad Water, TV 5, Philex Mining, several hospitals, and media, MVP’s presence in our country’s economic life is significant. He is into power, water, telecommunication, energy, infrastructure development, transportation, consumer food products, IT, health care, mining, etc., which affect every aspect of our daily living. His business conglomerate covers varied enterprises that provide goods and services to our people. His various businesses greatly contribute to our national development. It would cause a major pandemic if suddenly his entire enterprises cease to provide goods and services to millions of customers. It would be a disaster of unimaginable proportions.

This article is not about business or profit. We are the least concerned with the income MVP generates for his principal and shareholders. As a former ex-officio member of the PLDT Board of Directors, I had observed up close his business acumen, which would assure shareholders of a sound sleep at night. Most of his companies are solid, like PLDT, Meralco, Maynilad, and they will continue to survive and prosper despite the Covid-19. They will continue to provide handsome returns to their owners, but what we will remember will be the various projects that MVP has launched to benefit his poor countrymen. I first heard about MVP when I was an OFW in Hong Kong in the 1980s, a few years after MVP had set up the First Pacific with the Salim family of Indonesia. As a top Filipino business leader in the territory, he led in setting up the HK Bayanihan Trust to provide funding for the Filipino overseas workers in HK. One major project of the Bayanihan Trust in 1994 was the leasing of a former school in Kennedy Town in HK to establish the Domestic Helpers Center not only for Filipino OFWs but also for foreign domestic helpers of various nationalities. My family and I lived in Victoria Road just

Exploring. . . continued from A8

visibility into our waters. Ocean and reef health help us measure changes in key environmental indicators and can affect conditions in coastal waters hundreds of miles

He may no longer be personally managing the companies but to us he remains the MVP. Maybe not just the MVP but the GOAT—the greatest of all time. Not just for what he had accomplished for business, but for what he did for his fellowmen. By his example, MVP has given meaning to what Matthew 16:26 declares: “What does it profit a man if he gains the whole world but loses his soul?” A man is defined not by what he gets but by what he gives. across the Center and we spent our Saturdays and Sundays at the place.

We attended masses and watched social activities where our kababayans made presentations. The Center also sponsored free medical services like consultations, vaccination, and counseling. If you are away from your homeland, being with your fellow Filipinos is what matters most. MVP also extended valuable assistance to those in need through the Center and the Philippine Association in HK. He has served as Chairman of the Bayanihan Trust Fund for many years. No one can dispute that MVP is the biggest sports patron in the Philippines. This column is not enough to mention the entire major sports events and outstanding athletes that he has supported. He is the major sponsor of the top amateur basketball teams in the country— the Ateneo Blue Eagles and the San Beda Red Lions. The two schools are fortunate to be his Alma Maters. He founded the Samahang Basketbol ng Pilipinas of which he remains as its Chairman Emeritus to this day. If he’s a legend in business, he’s an icon in sports. Unlike his business organization, MVP does not publish his philanthropic acts and crow about his contributions to charity.

Born on July 14, 1946, MVP will turn 75 next month. In many companies, 75 is the age when a business honcho retires from active business practice. Early this month, MVP retired as the President & Chief Executive Officer of PLDT, which elected his successor at its last shareholders’ meeting. We really do not know the policy or practice of his other companies outside of PLDT. He may keep the top executive posts of both the First Pacific and Metro Pacific. He may no longer be personally managing the companies but to us he remains the MVP. Maybe not just the MVP but the GOAT—the greatest of all time. Not just for what he had accomplished for business, but for what he did for his fellowmen. By his example, MVP has given meaning to what Matthew 16:26 declares: “What does it profit a man if he gains the whole world but loses his soul?” A man is defined not by what he gets but by what he gives. away. The more data we can gather on fish populations, the accurate the baseline we have from which to measure climate change effects and implement policies to best protect our maritime riches for future generations.

To jumpstart this critical work, our leading youth exchange pro-

A

T five in the afternoon, the light from the west was kind.

I was at the porch. The essay due Wednesday night was finished. There was too much time for me for a week now.

There had always been too much time for me. From what my friends would tell me, they too have had much time in their hand.

My time is unreal. It appears to overtake everything around me.

It is the kind of time that goes on but is, without notice, terminated because there is an anxiety from within that tells us something soon, or too soon, will occur. And we cannot stop it. Then it is that kind of time that is mean as it holds for us a horizon that neither wilts nor waits. It is out there threatening every one of us of events that are innumerable and beyond our control. These events are not anymore within our imagination. Time becomes non-human even as, thankfully, we hope it will not become inhuman.

Both in our youth and in our age (for those who are older), time is the consort that accompanies our steps. We live each day in plans that grow from our surroundings.

No fantasy and no flights of fancy even in the most ridiculously ambitious ambition.

Time is with us as we vouch for anniversaries, or markers of celebrations, as when an infant becomes a toddler, a young girl begins to wear ribbons, and a couple spends more hours with each other during sunsets. Time of old holds our hands but it never tarries, and it does not leave us.

But the time we have now in this age of desolations and quick deaths persuades us differently.

Ancient but full of vigor, the time given to us by this universe now marches to its own rhythm. If, by this time, you already have felt how this manifestation of time stops all movements (remember, it is no more the mere accompanist), then you are fortunate.

This week, I felt I have finally apprehended the essence of this time, the being of this time. This week, as two young men we consider as kin, passed on with the suddenness that is presently regulated and regular, I

Friday, June 25, 2021

found solace in giving up grief. And grieving—the seizure of auspicious daily human affairs and the corollary deadline for any suspension of truths and sadness—is within the realm of time.

“Meaningless, all this is meaningless,” I whispered to myself. From hereon I should look for meaning in all things that happened within a time.

This morning, I went out early and stopped by the gate. I felt the lock and wondered why we lock things.

Then the chirping of the early birds became clear. There were many of them. Some of them were so tiny they were lost in the green leaves of the small tree.

Last night, near dusk, I looked up at the sky. Time has enabled me—us—to look up at any sky.

The clouds were gray and the entire sky was a wasted blue, with bits of yellow and sad pink. I took photos of the sky and posted them online.

Dear friends greeted me; a cousin seemed happy I had time to look up and be amazed by the space above. I looked intently at one of the photos

A9

and saw the shadow of a thing flying against the vast sky. I urged myself to find substance in that flight. I had enough time for meanings, more time to gaze at the heavens and collect metaphors. Time was giving me the gift of appraising shadows. I should not waste this time.

At night, my sister from the other side of the ocean, sent a message: “Look at the moon! I am seeing a square moon.” I got up from the table and went out to look for the moon.

Time had given me opportunities to inspect the night sky and the moon.

I held my phone and took photos of the bright moon. The photos were sent and technology quickly allowed my sister to see what I saw. “Yours is a full moon?” she half-asked and half-answered that question.

My moon was brighter than her moon whose face was half-eaten by time again.

I stayed near the gate; I had to wait for the food delivery. The moon shone above as I waited for this most practical thing in my life now.

My phone rang. It was the delivery man and he was asking where he could bring the food. I tried not to lose my patience because I had all the time in the world to be patient and to endure waiting. I mentioned my address. He kept on telling me the map was giving him a different location. “Was I close to the crematorium?”

“Ignore the location,” I told the delivery man. A few minutes after and he was at the gate.

That night, I went out again, and tried to check if my moon had turned square. Time had made my moon brighter. The moon also brought with it this yellow and white cat who found solace in my porch. I looked at the cat, unmoving, and wondered what deep, deep meaning I could attribute to its presence.

E-mail: titovaliente@yahoo.com

Falling short: Why the White House will miss its vax target

As for the ambition of his 70 percent goal, Biden added: “I’d like to get it at 100 percent, but I think realistically we can get to that place between now and July Fourth.”

He won’t.

With the July Fourth holiday approaching, the White House acknowledged this week that Biden will fall shy of his 70 percent goal and an associated aim of fully vaccinating 165 million adults in the same time frame.

The missed milestones are notable in a White House that from the outset has been organized around a strategy of underpromising and overdelivering for the American public.

White House officials, while acknowledging they are set to fall short, insist they’re unconcerned.

“We don’t see it exactly like something went wrong,” press secretary Jen Psaki said earlier this week, stressing that Americans’ lives are still better off than they were when Biden announced the goal.

A half-dozen officials involved in the vaccination campaign, speaking on the condition of anonymity to discuss the missed target candidly, pointed to a combination of factors, including: the lessened sense of urgency that followed early success in the vaccination campaign; a decision to reach higher than a play-it-safe lower goal; and unexpectedly strong

recalcitrance among some Americans toward getting a shot.

Nonetheless, the White House says it’s not letting up on its vaccination efforts. Biden will be in North Carolina on Thursday urging Americans to roll up their sleeves as part of a nationwide “month of action” to drive up the vaccination rate before the holiday. The White House is continuing to roll out increasingly localized programs to encourage specific communities to get vaccinated.

A drop-off in vaccination rates was always expected by the White House, but not as sharp as has proved to be the case. The scale of American reluctance to get vaccinated remains a source of global curiosity, particularly as many nations are still scrambling for doses to protect their most vulnerable populations.

When the 70 percent goal was first announced by Biden seven weeks ago, on average more than 800,000 Americans were getting their first vaccine dose each day—down from a high of nearly 2 million per day in early April. Now that figure is below 300,000.

Paradoxically, officials believe the strong response to the early vaccination campaign has served to reduce motivation to get a shot for some. One of the most potent motivators for people to get vaccinated

was the high rate of Covid-19 cases and deaths. Now that those figures have dropped to levels not seen since the onset of the pandemic, officials say it’s become harder to convince Americans of the urgency to get a shot—particularly for younger populations that already knew they were at low risk of serious complications from the virus.

Separately, two officials involved in the crafting of the 70 percent goal said officials knew 65 percent would have been a safer bet, but they said the White House wanted to reach for a figure closer to experts’ projections of what would be needed for herd immunity to bring down cases and deaths. Aiming for the higher target, the officials said, was seen as adding to the urgency of the campaign and probably increased the vaccination rate above where it would have been with a more modest goal.

Other officials said the White House, which has always cast the vaccination campaign as “hard,” nevertheless failed to grasp the resistance of some Americans to getting a shot when it set the 70 percent goal.

“The hesitation among younger Americans and among Trump voters has been too hard to overcome,” said GOP pollster Frank Luntz, who has worked with the White House and outside groups to promote vaccinations. “They think they are making a statement by refusing to be vaccinated. For Trump voters, it’s a political statement. For younger adults, it’s about telling the world that they are immune.”

Of the White House, Luntz said, “I think they did as good a job as they could have done.”

The White House points to all

gram YSEALI, piloted a Marine Accelerator Program this year to train 62 emerging leaders of 33 marine conservation projects from across Southeast Asia. These projects will enable emerging conservation leaders to improve regional cooperation and address maritime and inland waterway is-

sues, such as illegal, unreported, and unregulated fishing, river or marine ecosystem degradation, and marine debris.

While conservation efforts are critical, preserving marine species requires protecting marine spaces.

This August marks the 70th anniversary of the Mutual Defense

Treaty, which underpins our security alliance. The security benefits of MDT enable cooperation to improve maritime domain awareness and deter nations from committing environmental crimes. Using tools like the Visible Infrared Imaging Radiometer Suite and satellite imagery, the United States and the

By Zeke Miller | Associated Press

W

ASHINGTON—Standing in the State Dining Room on May 4, President Joe Biden laid out a lofty goal to vaccinate 70 percent of American adults by Independence Day, saying the US would need to overcome “doubters” and laziness to do it. “This is your choice,” he told Americans. “It’s life and death.”

that the nation has achieved to play down the significance of the goals it will miss.

Back in March, Biden projected a July Fourth holiday during which Americans would be able to safely gather in small groups for outdoor barbecues—a milestone reached by the US months ago. Nearly all states have lifted their virus restrictions, businesses and schools are open and large gatherings are resuming nationwide.

“The most important metric at the end of the day is: What are we able to do in our lives? How much of ‘normal’ have we been able to recapture?” said Surgeon General Vivek Murthy. “And I think what we are seeing now is that we have exceeded our expectations.”

The White House also has taken to crunching the vaccination numbers in new ways to put a positive spin on the situation. On Tuesday, the administration announced that 70 percent of adults 30 and over have been vaccinated—removing the most hesitant population from its denominator. But even that statistic glosses over lower vaccination rates among middle-aged adults (62.4 percent for those aged 40 to 49) and millennials (52.8 percent for those aged 25 to 39).

The administration’s predicament is all the more notable given what had been an unbroken streak of fulfilled vaccination goals. Before taking office, Biden in December pledged to vaccinate 100 million Americans in the first 100 days of his presidency—a rate that the US was exceeding by the time he was sworn in. Within days he suggested a goal of 150 million and ultimately easily met a revised goal of 200 million shots in the first 100 days.

Philippines are working together to stop environmental damage before it happens.

With much at stake—sovereignty, food security, and livelihoods— we must continue to do our utmost to protect the world’s waters.

John Law is the US Embassy’s Chargé d’Affaires.

A10 Friday, June 25, 2021

Brownout contingency measures due today

T

HE Senate Energy Committee is expected to get the promised roadmap on short-term contingency measures to avoid power outages from Department of Energy (DOE) officials when it holds its third hearing on Friday, June 25.

The committee’s third hybrid public hearing was called by its chairman, Sen. Sherwin Gatchalian, to tackle long-term solutions to power supply shortages, especially during the summer season; as well as to “ensure the quality, reliability, security and affordability of electric supply in the country.

Gatchalian said the inquiry will tackle still outstanding issues raised in Sen. Emmanuel Pacquiao’s privileged speech denouncing “rotational power outages” that disrupted business activities between May 31 and June 3.

Among those summoned to testify at Friday’s hearing are officials of the Department of Energy, Energy Regulatory Commission, National Electrification Administration, Department of Justice, Power Sector Assets and Liabilities Management Corp., Continued on A5

PNoy death before kidney transplant shocks nation

F

ORMER President Benigno S. Aquino III, more fondly known as PNoy or Noynoy, died early Thursday morning (June 24), shortly after being rushed to Capitol Medical Center in Quezon City. His family said his death certificate listed the cause of death as renal or kidney disease secondary to diabetes. They said he “died peacefully in his sleep” and was declared dead at 6:30 a.m.

The country’s 15th President was 61.

Reports of his dire condition started swirling since dawn, but media outlets got the official announcement from the family only nine hours later, with two sisters, Ballsy and Pinky, apologizing to the crowd outside the hospital and attributing the delay to the strict pandemic protocols that required completion of a swab test.

His body was brought subsequently to the Heritage Memorial Park in Taguig City for the wake.

Aquino, who served as congress-

man of Tarlac’s second district for three terms (1998-2007) and then senator from 2007 to 2010, was catapulted to the presidency in 2010 on the wave of the nation’s outpouring of grief over the death of his mother, former President Corazon Cojuangco Aquino, to cancer, in August 2009.

Senate President Vicente Sotto III said the Senate—where Aquino served for three years—is in mourning. The Philippine flag was placed at half mast outside the Senate building. Hours later, flags at Malacañang Palace were also placed

at half mast.

Former Public Works chief under Aquino, Rogelio Singson, told CNN PHL Aquino had been undergoing dialysis thrice a week, and was preparing for angioplasty and a subsequent kidney transplant.

He called Aquino “really a servant leader.”

As they faced the media, Ballsy Aquino-Cruz, the eldest of the Aquino siblings, asked her sister Pinky to read the family’s official statement.

The family statement, written in Filipino, cited the 15th President’s trademark of keeping a low profile always, something that marked his “service to the nation—without fanfare, from the heart,” because he always considered people as “his boss.”

His sisters said it “was painful for us to accept that he just quietly absorbed the criticisms,” but, always, he told them not to worry, “because I can still sleep at night.”

They recalled how how he faced all investigations launched after his presidency—before the Sandiganbayan and at the Senate in 2017 and the House of Representatives in 2018, always personally bothering to appear and explain himself.

Continued on A4

WHO REMEMBER NOYNOY? FRIENDS, FOES, DESAPARECIDO KIN, ANIMAL RIGHTS GROUPS

A

FLOOD of memories and collective sighs greeted Thursday morning’s sudden death of former President Benigno S. “Noynoy” Aquino III, including those from two close Aquino family allies he had been at odds with, a dictator’s daughter, the mother of a desaparecido and even animal rights advocates who recalled his concern over a huge, old elephant’s misery at the zoo.

Foreign Affairs Secretary Teodoro L. Locsin Jr., one of the closest former aides of Noynoy’s mother, former President Corazon C. Aquino, tweeted: “I’m out of Twitter from grief over the death of a sea-green incorruptible, brave under armed attack, wounded in crossfire, indifferent to power and its trappings, and ruled our country with a puzzling coldness but only because he hid his feelings so well it was thought he had none; it was the way he and his siblings were raised by a great woman— their mother and of our restored democracy (without her none in power yesterday and today would be).”

Locsin, who had a falling out

with Noynoy in the last years of his presidency, said in candor, “He wasn’t fond of me but I could not bring myself not to admire him.”

He then said he would beg “his sisters to allow me the honor to share their grief.”

The Department of Foreign Affairs (DFA) said in a statement: “During his term as the 15th President of the Philippine Republic, President Aquino elevated the country’s conduct of foreign relations, steered foreign policy towards a principled direction that earned international respect and esteem, and invigorated the foreign service with a collective sense of patriotism, commitment to service, and professionalism.”

Among the first to issue a statement on Aquino’s death was Edita T. Burgos, widow of the press freedom icon Joe Burgos and mother of desaparecido Jonas Burgos. In a text message to BusinessMirror, she said: “I am grateful to President Noynoy Aquino for signing RA 10368, the Anti-Disappearance Law, the only country in Asia with a law on enforced disappearance.

Continued on A5

Companies BusinessMirror

Editor: Jennifer A. Ng

Villar Group to offer shares of AllDay, REIT to public

T

By VG Cabuag

@villygc

he Villar Group on Thursday said it will list its supermarket brand AllDay and its own real estate investment trust (REIT) company on the Philippine Stock Exchange (PSE) in the fourth quarter.

In a press briefing for the Villar Group’s Vicon—the group’s online property convention—Manuel B. Villar, the group’s chairman, said the company hopes to raise as much as P6 billion for the initial public offering (IPO) of the supermarket brand under AllDay Marts Inc.

“It won’t be as big as AllHome. We already kicked off with the IPO. The value of the company is about P25 to P30 billion,” Villar said.

He said the company’s convenience store under the same AllDay brand may not be included in the IPO since the company wanted a pureplay entity.

“When we list AllHome, it’s also pureplay. AllDay serves a different market, it’s a higher level of supermarket which I think is the future of supermarket,” he said.

“In addition to e-commerce, people who still would want to buy in a supermarket would prefer a cleaner, a nicer environment in shopping. That’s the thrust of AllDay.” Villar said the footprint of the supermarket is small—around 40 stores—but the company wants to grow the number by an average of 10 new ones per year, and build branches in Metro Manila and nearby provinces. Its stores will have about 2,000 square meters each, bigger than the average grocery shops, he said.

He also said he would see to it that the stores would carry the other brands of the group, including All-

Home, its coffee shop brand Coffee Project and the two other restaurant brands.

As for the REIT company it will set up, Villar said it will initially be called Vreit and will consist mainly of the group’s office portfolio. The company is currently finalizing the properties that will be included in the REIT firm.

The two IPOs may coincide with each other depending on market conditions, he said. The company is targeting to list All Day in October while Vreit’s listing may take place a month after. The Villar Group currently has a number of listed firms, the biggest of which is low-cost housing and deathcare firm Golden MV Holdings Inc., followed by property developer Vista Land and Lifescapes Inc., Vistamalls Inc. (formerly Starmalls Inc.) and retailer AllHome Corp.

Statement of the PSE on the passing of former President Benigno S. Aquino III

T

he Philippine Stock Exchange, Inc. (PSE) joins the nation in mourning the passing of former President

Benigno S. Aquino III. The PSE Board and Management extend their condolences to the Aquino family. The Philippine stock market

recorded several milestones during the term of President Aquino as his policies transformed the Philippines from a high credit risk to an

investment grade rating country starting in 2013.

We pray for the eternal repose of his soul.

Friday, June 25, 2021

B1

AC Energy, Citicore break ground on solar project in Pampanga

A

C Energy Corp. and Citicore broke ground on their 72-megawatt (MW ) solar farm in Pampanga Thursday morning.

The P2.7-billion Arayat-Mexico solar project would be commissioned by the first quarter of 2022.

Once completed and operational, the new solar farm will generate enough power to supply clean energy annually to approximately 45,000 homes.

Officials from both firms said the solar project will be a critical contribution in Luzon, where the energy industry is working double time to ensure a steady power supply.

“One of AC Energy’s successes is our team’s ability to work with different partners and we are delighted to jointly develop this solar project with Citicore. Together, we will help augment the much needed grid capacity during the very tight electricity supply situation as our economy recovers from the effects of the pandemic,” said AC Energy President Eric Francia. Francia, Citicore President Oliver Tan, Mayor Emmanuel M. Alejandrino of the Municipality of Arayat attended the groundbreaking ceremony.

AC Energy has about 1,200 MW of attributable capacity in the Philippines. This is expected to increase

with completion of the infusion of AC Energy International, which has about 1,400 MW of attributable capacity.

AC Energy’s aspiration is to be the largest listed renewables platform in Southeast Asia, with a goal of reaching 5,000MW of renewables by 2025.

“AC Energy has been constantly growing its renewables investments and continues to play a meaningful role in the green-led recovery,” added Francia.

Both AC Energy and Citicore share the same vision of accelerating renewable energy (RE) development to help the country achieve its target of a 75-percent reduction in greenhouse gas emissions by 2030.

“We are committed to providing our expertise through innovative renewable energy solutions to help accelerate the shift to RE in consumer’s power needs. At Citicore, we’d like to inspire a collective movement towards a net-zero carbon emission future, by harnessing renewable energy sources and empowering communities to deliver positive energy,” said Tan. Over the next five years, Citicore has lined up a robust pipeline of projects, harnessing diverse and sustainable energy resources, to produce 1,500MW. Lenie Lectura

B2

Companies BusinessMirror

Friday, June 25, 2021

PSE STOCK QUOTATIONS

June 24, 2021

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

ASIA UNITED BDO UNIBANK BANK PH ISLANDS CHINABANK CITYSTATE BANK EAST WEST BANK METROBANK PB BANK PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FERRONOUX HLDG IREMIT MEDCO HLDG PHIL STOCK EXCH SUN LIFE

43.8 113.9 88.15 24.85 7.99 9.68 48.35 10.34 22.4 55.65 17.5 118.7 75.5 1.29 4.12 3.03 1.33 0.395 205 2,400

44.7 114.3 88.6 24.9 8.49 9.7 48.6 10.8 22.45 56 17.84 118.8 76 1.35 4.2 3.08 1.44 0.41 208 2,500

44 114 87.05 24.9 8.45 9.65 48.95 10.34 22.5 56 17.5 120 77 1.35 4.18 3 1.33 0.41 199 2,400

44 114.5 88.6 24.9 8.45 9.72 49.15 10.34 22.5 56 17.6 120.8 77.2 1.35 4.2 3 1.33 0.415 208 2,400

43.8 113.5 86.95 24.5 8.45 9.65 48.35 10.34 22.35 55.3 17.5 118.2 76 1.35 4.11 3 1.3 0.39 199 2,400

44 113.9 88.6 24.9 8.45 9.68 48.35 10.34 22.4 56 17.5 118.8 76 1.35 4.2 3 1.33 0.41 208 2,400

2,200 2,408,470 1,971,740 378,800 1,200 148,600 1,266,200 3,700 239,900 2,400 84,600 881,210 744,820 1,000 328,000 1,000 314,000 530,000 41,520 10

96,500 274,549,047 173,769,279 9,333,200 10,140 1,439,594 61,596,230 38,258 5,370,940 133,442 1,481,500 104,684,997 56,654,448 1,350 1,371,700 3,000 417,530 214,300 8,533,549 24,000

-36,322,806 18,448,495 579,150 -66,849 -13,528,070 -239,860 -3,318 164,500 -9,923,005 -11,819 8,260 6,116,792 -

INDUSTRIAL AC ENERGY 8.26 8.27 8.5 8.5 8.21 8.27 49,393,400 412,710,896 1.36 1.37 1.38 1.38 1.36 1.36 261,000 356,330 ALSONS CONS 24.6 24.65 24.65 24.7 24.4 24.65 1,419,300 34,905,480 ABOITIZ POWER BASIC ENERGY 0.79 0.8 0.8 0.81 0.78 0.79 25,095,000 19,846,700 FIRST GEN 30.7 30.9 30.9 30.9 30.65 30.9 581,200 17,876,175 77.15 77.5 77 77.5 76.5 77.15 1,506,990 115,495,105 FIRST PHIL HLDG 275.6 276 278 278 275.6 275.6 209,110 57,733,918 MERALCO MANILA WATER 18.18 18.2 17.62 18.3 17.62 18.18 33,666,300 595,164,536 PETRON 3.33 3.34 3.35 3.37 3.33 3.34 1,193,000 3,992,440 4.03 4.13 4.03 4.03 4.02 4.03 12,000 48,270 PETROENERGY 12.72 13 12.56 13 12.56 13 106,200 1,367,592 PHX PETROLEUM 20.5 20.55 20.9 20.9 20.35 20.55 536,100 11,016,180 PILIPINAS SHELL SPC POWER 12.1 12.26 12.3 12.36 12.06 12.26 121,000 1,475,656 VIVANT 15.5 15.6 15.5 15.5 15.5 15.5 1,300 20,150 6.3 6.36 6.34 6.39 6.3 6.36 2,313,900 14,636,168 AGRINURTURE 3.02 3.03 2.98 3.02 2.92 3.02 2,134,000 6,373,670 AXELUM BOGO MEDELLIN 69 77 77 77 77 77 10 770 23.25 23.4 22.5 23.4 22.5 23.4 2,551,500 58,928,770 CENTURY FOOD 15.54 15.56 16.06 16.06 15.38 15.56 682,800 10,692,000 DEL MONTE 8.35 8.38 8.43 8.46 8.32 8.38 2,769,000 23,128,665 DNL INDUS 11.5 11.56 11.08 11.6 11.06 11.5 8,429,100 95,255,850 EMPERADOR SMC FOODANDBEV 72.75 73 73 73.4 72.6 73 305,720 22,291,989 ALLIANCE SELECT 0.61 0.63 0.62 0.62 0.62 0.62 219,000 135,780 1.39 1.41 1.39 1.42 1.39 1.41 4,320,000 6,066,190 FRUITAS HLDG 97 99 95.75 99 95 99 93,670 9,160,008.50 GINEBRA JOLLIBEE 211.4 212 210.8 212 209.8 212 585,230 123,389,152 LIBERTY FLOUR 29.8 30.95 30 30 30 30 2,000 60,000 7.56 7.97 7.41 8.1 7.41 7.99 2,700 20,814 MACAY HLDG 6.88 6.9 6.94 6.99 6.82 6.9 356,000 2,467,545 MAXS GROUP MG HLDG 0.3 0.305 0.305 0.31 0.3 0.305 1,610,000 487,050 MONDE NISSIN 15.34 15.5 14.76 15.6 14.76 15.34 30,903,700 471,663,576 SHAKEYS PIZZA 8.3 8.32 8.1 8.3 8.01 8.3 2,751,600 22,539,448 1.04 1.06 1.04 1.06 1.04 1.04 1,182,000 1,231,440 ROXAS AND CO 4.55 4.58 4.61 4.61 4.58 4.58 8,000 36,800 RFM CORP SWIFT FOODS 0.16 0.161 0.17 0.171 0.157 0.16 150,730,000 24,356,670 UNIV ROBINA 139.2 140.1 139.1 141.2 139.1 139.2 594,700 83,409,622 0.88 0.89 0.87 0.89 0.86 0.89 8,602,000 7,555,570 VITARICH 2.33 2.4 2.4 2.4 2.33 2.33 123,000 294,990 VICTORIAS CONCRETE A 52.1 56.7 52.05 52.05 52.05 52.05 1,370 71,308.50 59.85 61 59.85 59.85 59.85 59.85 300 17,955 CONCRETE B 1.36 1.37 1.33 1.38 1.32 1.37 11,561,000 15,714,360 CEMEX HLDG 3.03 3.07 3.08 3.12 3.03 3.03 981,000 2,997,410 DAVINCI CAPITAL 14.9 15 14.9 15 14.7 15 2,297,100 34,399,354 EAGLE CEMENT EEI CORP 7.72 7.74 7.69 7.75 7.69 7.71 152,000 1,172,575 6.25 6.3 6.3 6.32 6.25 6.3 187,500 1,178,987 HOLCIM 6.55 6.64 6.72 6.78 6.55 6.6 975,800 6,452,180 MEGAWIDE 13.2 13.4 12.82 13.2 12.82 13.2 68,500 888,980 PHINMA TKC METALS 1.04 1.07 1.04 1.08 1.03 1.08 198,000 209,500 2.07 2.08 2.1 2.11 2.07 2.07 3,121,000 6,508,280 VULCAN INDL 1.77 1.79 1.79 1.79 1.77 1.77 281,000 502,580 CROWN ASIA 1.89 1.93 1.9 1.9 1.89 1.9 46,000 87,360 EUROMED 5.4 5.48 5.48 5.48 5.38 5.41 86,100 465,436 PRYCE CORP CONCEPCION 21.35 21.95 21.3 21.95 21.3 21.95 13,000 284,635 4.23 4.24 4.2 4.26 4.13 4.24 22,068,000 93,440,570 GREENERGY 10.08 10.1 10.1 10.28 10 10.08 838,000 8,452,330 INTEGRATED MICR 1.11 1.14 1.14 1.14 1.11 1.12 305,000 342,990 IONICS PANASONIC 5.75 5.83 5.76 5.84 5.75 5.75 15,400 89,130 1.35 1.36 1.36 1.39 1.35 1.35 137,000 186,060 SFA SEMICON 6.51 6.62 6.71 6.79 6.51 6.51 2,685,400 17,758,082 CIRTEK HLDG

-33,492,395 20,700 -11,706,995 -35,550 3,932,035 -6,005,570 -10,359,992.00 -518,730,138 -1,438,730 -170,088 -5,378,485 22,064 112,312 -935,720 -4,639,855 -892,826 656,935 -822,302 -12,917,956 485,270 -3,988,793.50 15,613,940 595,975 -76,250 9,216,870 -11,600,167.00 -17,760 -24,148,097 -8,900 -1,860,900 12,320 -14,980,000 -19,410 -2,093,897 -197,320 20,900 1,799,750 -96,220 1,110 10,800 856,747

HOLDING & FRIMS ABACORE CAPITAL 1.16 1.17 1.13 1.19 1.11 1.16 34,322,000 40,046,260 7.15 7.33 7.38 7.38 7.02 7.34 2,300 16,366 ASIABEST GROUP 802.5 806.5 815 815 802.5 802.5 174,990 141,093,020 AYALA CORP ABOITIZ EQUITY 42.3 42.5 42.25 42.65 42.05 42.3 689,000 29,185,200 ALLIANCE GLOBAL 10.1 10.12 10.28 10.28 10.08 10.1 2,409,900 24,426,072 3.93 3.94 3.9 4.11 3.9 3.94 8,481,000 34,117,660 AYALA LAND LOG 6.8 6.83 6.8 6.8 6.8 6.8 1,495,600 10,170,080 ANSCOR ANGLO PHIL HLDG 0.94 0.95 0.93 0.96 0.92 0.94 4,152,000 3,885,520 ATN HLDG A 0.7 0.71 0.71 0.72 0.7 0.71 1,162,000 821,520 5.4 5.42 5.42 5.45 5.38 5.4 1,318,100 7,127,914 COSCO CAPITAL 6.19 6.2 6.3 6.35 6.13 6.19 7,292,500 45,106,328 DMCI HLDG 8.17 8.19 8.06 8.19 8.06 8.19 30,800 249,114 FILINVEST DEV FORUM PACIFIC 0.285 0.295 0.295 0.295 0.295 0.295 80,000 23,600 628 628.5 612 628 612 628 313,710 196,527,115 GT CAPITAL 3.85 4.19 3.97 4.3 3.97 4.3 85,000 341,260 HOUSE OF INV 60.55 61.2 60.3 61.15 60.25 60.55 926,120 56,207,183.50 JG SUMMIT JOLLIVILLE HLDG 5.77 5.95 6 6 5.89 5.99 20,100 119,200 LODESTAR 0.99 1 1 1 0.98 0.99 1,153,000 1,132,610 3.27 3.37 3.26 3.26 3.26 3.26 25,000 81,500 LOPEZ HLDG 12.94 12.96 13.1 13.1 12.86 12.94 2,037,100 26,311,126 LT GROUP 0.56 0.58 0.59 0.59 0.55 0.58 523,000 295,940 MABUHAY HLDG MJC INVESTMENTS 1.58 1.65 1.58 1.58 1.58 1.58 20,000 31,600 3.92 3.95 4.06 4.07 3.92 3.92 32,560,000 129,214,230 METRO PAC INV 3.79 3.8 3.79 3.79 3.79 3.79 5,000 18,950 PACIFICA HLDG 3.05 3.07 3 3.17 3 3.05 1,968,000 6,069,190 PRIME MEDIA REPUBLIC GLASS 2.76 2.88 2.84 2.85 2.84 2.85 6,000 17,070 1.27 1.29 1.29 1.3 1.27 1.27 77,000 99,380 SOLID GROUP 986 990 998 1,001 986 986 128,525 127,579,077.50 SM INVESTMENTS 115 115.2 113.5 115.5 113.5 115 784,940 90,144,717 SAN MIGUEL CORP SOC RESOURCES 0.77 0.81 0.82 0.82 0.79 0.79 438,000 350,170 135.8 137 135 137 135 137 70,330 9,501,066 TOP FRONTIER 0.285 0.295 0.295 0.3 0.285 0.295 3,880,000 1,133,650 WELLEX INDUS 0.238 0.239 0.234 0.245 0.228 0.238 14,190,000 3,357,650 ZEUS HLDG

2,166,010.00 -12,841,535 -3,866,625 -10,461,522 89,790 -24,440 -340,825 1,293,673 -819 73,666,990 -12,600 -10,754,882.50 -8,865 -17,064,124 2,800 -26,114,350.00 50,240 -10,160 -50,050,565 -3,179,693 -103,250 -423,100

PROPERTY ARTHALAND CORP 0.66 0.67 0.63 0.72 0.63 0.66 15,614,000 10,677,340 7.45 7.98 7.34 7.34 7.34 7.34 8,100 59,454 ANCHOR LAND 37.1 37.15 37.8 37.8 36.8 37.1 9,335,400 346,237,905 AYALA LAND ARANETA PROP 1.18 1.24 1.17 1.25 1.17 1.25 6,000 7,190 36.15 36.2 36.3 36.4 36.15 36.2 558,800 20,259,190 AREIT RT 1.5 1.51 1.48 1.54 1.48 1.51 330,000 495,190 BELLE CORP 0.97 0.98 0.99 1 0.97 0.98 2,731,000 2,681,550 A BROWN CITYLAND DEVT 1.05 1.06 1.05 1.07 1.03 1.05 2,734,000 2,870,590 CROWN EQUITIES 0.135 0.138 0.139 0.141 0.133 0.135 32,400,000 4,456,380 4.05 4.06 4.05 4.08 3.81 4.05 2,840,000 11,366,900 CEB LANDMASTERS 0.5 0.52 0.49 0.52 0.485 0.52 56,050,000 28,099,500 CENTURY PROP 11.98 12 12.08 12.08 11.96 12 426,700 5,115,230 DOUBLEDRAGON DDMP RT 2.01 2.02 2.03 2.03 2.01 2.01 9,194,000 18,520,520 DM WENCESLAO 6.99 7 7 7 6.97 7 52,600 367,755 0.305 0.315 0.3 0.33 0.295 0.31 18,350,000 5,725,400 EMPIRE EAST 0.51 0.52 0.52 0.55 0.49 0.51 211,223,000 109,133,385 EVER GOTESCO FILINVEST LAND 1.11 1.13 1.13 1.13 1.11 1.13 2,738,000 3,069,650 GLOBAL ESTATE 0.9 0.91 0.9 0.91 0.9 0.9 437,000 393,340 7.26 7.5 7.4 7.4 7.4 7.4 2,000 14,800 8990 HLDG 1.42 1.43 1.46 1.46 1.42 1.42 1,898,000 2,728,690 PHIL INFRADEV CITY AND LAND 2.06 2.09 1.92 2.11 1.92 2.09 8,618,000 17,582,360 MEGAWORLD 3.15 3.16 3.16 3.18 3.14 3.16 14,110,000 44,539,280 MRC ALLIED 0.4 0.405 0.4 0.41 0.39 0.4 32,250,000 13,043,550 0.74 0.75 0.72 0.78 0.72 0.75 86,987,000 65,305,660 PHIL ESTATES 3.67 3.68 3.64 3.68 3.59 3.67 688,000 2,503,260 PRIMEX CORP ROBINSONS LAND 17.6 17.7 17.8 17.82 17.6 17.6 2,763,000 48,881,160 PHIL REALTY 0.395 - 0.3 0.395 0.3 0.395 42,920,000 15,942,750 1.5 1.55 1.51 1.55 1.5 1.5 316,000 475,610 ROCKWELL 2.63 2.7 2.69 2.7 2.64 2.7 25,000 66,260 SHANG PROP STA LUCIA LAND 3.3 3.31 3.31 3.38 3.2 3.31 1,888,000 6,173,580 SM PRIME HLDG 37.3 37.35 37.15 37.65 37 37.35 2,701,800 100,961,085 VISTAMALLS 3.77 3.84 3.84 3.84 3.83 3.83 5,000 19,170 1.74 1.75 1.73 1.77 1.73 1.77 386,000 672,420 SUNTRUST HOME 3.66 3.69 3.7 3.82 3.64 3.66 5,712,000 21,072,230 VISTA LAND

SERVICES ABS CBN 11.5 11.64 11.4 11.7 11.4 11.64 66,500 773,286 13.58 13.6 14.2 14.2 13.52 13.58 4,918,100 67,883,070 GMA NETWORK 1,830 1,839 1,850 1,850 1,830 1,830 65,455 120,340,370 GLOBE TELECOM PLDT 1,272 1,273 1,280 1,295 1,270 1,273 117,635 150,453,190 APOLLO GLOBAL 0.184 0.185 0.19 0.192 0.183 0.184 222,520,000 41,650,920 22.6 22.65 22.7 23.05 22.25 22.6 3,640,500 82,497,265 CONVERGE 4.06 4.09 4.02 4.11 4.02 4.06 197,000 798,170 DFNN INC DITO CME HLDG 9.12 9.13 9.3 9.32 9.1 9.13 11,267,000 103,406,196 JACKSTONES 2.36 2.39 2.36 2.4 2.36 2.4 10,000 23,790 2.39 2.4 2.41 2.45 2.39 2.4 1,201,000 2,901,310 NOW CORP 0.465 0.47 0.48 0.48 0.46 0.47 13,020,000 6,098,850 TRANSPACIFIC BR 2.44 2.45 2.5 2.5 2.44 2.45 626,000 1,535,270 PHILWEB 2GO GROUP 8.53 8.54 8.56 8.56 8.44 8.54 17,500 148,698 14.6 14.8 14.78 14.8 14.78 14.8 3,800 56,230 ASIAN TERMINALS 3.1 3.11 3.21 3.23 3.11 3.11 660,000 2,077,230 CHELSEA 52.8 52.85 52.9 53.4 52.85 52.85 605,030 32,063,830 CEBU AIR INTL CONTAINER 159 159.3 161 161.4 158.9 159 705,020 112,531,946 LBC EXPRESS 17.98 18.38 17.98 18.38 17.98 18.36 6,800 122,786 5.64 5.65 5.86 5.87 5.63 5.64 1,968,800 11,201,490 MACROASIA 2.14 2.24 2.22 2.25 2.13 2.25 154,000 339,680 METROALLIANCE A HARBOR STAR 1.25 1.26 1.22 1.25 1.19 1.25 1,017,000 1,262,660 ACESITE HOTEL 1.82 1.84 1.77 1.82 1.77 1.82 145,000 263,660 0.13 0.131 0.136 0.139 0.127 0.13 544,300,000 71,562,270 BOULEVARD HLDG 3.06 3.16 3.16 3.17 3.16 3.16 66,000 208,580 DISCOVERY WORLD 0.58 0.6 0.59 0.6 0.58 0.6 1,599,000 945,690 WATERFRONT STI HLDG 0.395 0.4 0.39 0.415 0.385 0.4 23,420,000 9,397,100 BERJAYA 5.21 5.28 5.3 5.3 5.28 5.28 2,500 13,230 6.59 6.6 6.72 6.8 6.6 6.6 10,595,700 70,243,101 BLOOMBERRY 2.08 2.11 2.11 2.11 2.08 2.08 37,000 77,860 PACIFIC ONLINE LEISURE AND RES 1.61 1.63 1.6 1.66 1.6 1.63 169,000 273,440 2.07 2.19 2.19 2.19 2.19 2.19 1,000 2,190 MANILA JOCKEY 2.08 2.09 2.13 2.13 2.05 2.09 1,103,000 2,298,600 PH RESORTS GRP 0.425 0.43 0.43 0.435 0.425 0.43 1,190,000 509,800 PREMIUM LEISURE 5.85 6.05 6.05 6.05 6.05 6.05 100 605 PHIL RACING ALLHOME 7.85 7.91 7.82 7.95 7.82 7.85 261,000 2,048,643 METRO RETAIL 1.48 1.49 1.4 1.49 1.39 1.49 4,468,000 6,448,130 40.5 40.6 40.6 40.65 40.35 40.6 2,788,400 113,066,235 PUREGOLD 53.15 53.2 53.6 53.7 52.7 53.2 794,550 42,262,735.50 ROBINSONS RTL PHIL SEVEN CORP 99.5 99.6 99.8 99.8 99.5 99.5 640 63,715 SSI GROUP 1.21 1.22 1.22 1.23 1.21 1.22 4,915,000 5,998,120 WILCON DEPOT 18.46 18.48 18.9 19 18.3 18.48 1,627,800 30,134,208 0.375 0.38 0.375 0.38 0.375 0.38 850,000 319,900 APC GROUP 6.25 6.49 6.28 6.49 6.05 6.49 92,500 586,457 EASYCALL IPM HLDG 5.4 5.58 5.4 5.58 5.4 5.58 2,200 11,916 1.7 1.71 1.73 1.75 1.7 1.7 12,077,000 20,750,410 PRMIERE HORIZON 4.2 4.25 4.1 4.2 4.01 4.2 195,000 792,720 SBS PHIL CORP

MINING & OIL

32,870 -59,454 -91,254,755.00 -57,920 340 19,600 -1,052,000 149,000 -589,850 631,050 792,840 -678,040.00 -203,000 -25,500 -2,452,420 158,130.00 -8,700 -17,760 -4,921,480 81,100 -719,200 78,840 -1,065,912 -304,050 9,000 1,456,580 18,989,155 -15,961,690 -47,679,655 -19,370,525 76,890 7,860,180 -333,660.00 -1,261,743 58,040 41,850 -395,690 -7,390 6,340 13,481,593 -24,614,648 263,340 -17,210 -303,750 -5,739,950 -36,704,073 68,800 4,250 864,840 -5,600 10,794,115 -928,459 -47,784 -4,304,240 9,941,808 -3,894 192,570 -163,400

ATOK 8.5 8.59 8.61 8.81 8.5 8.5 846,300 7,271,889 -1,504.00 1.6 1.61 1.65 1.65 1.59 1.61 4,137,000 6,655,070 -2,195,460 APEX MINING ATLAS MINING 6.32 6.33 6.45 6.62 6.31 6.33 1,325,700 8,544,080 -186,578 BENGUET A 5.28 5.29 5.15 5.3 5 5.28 773,100 3,991,796 5.3 5.45 5 5.55 5 5.49 148,700 782,548 -126,840 BENGUET B 0.315 0.325 0.32 0.33 0.315 0.325 1,150,000 371,750 15,750 COAL ASIA HLDG CENTURY PEAK 2.85 2.87 2.87 2.87 2.87 2.87 15,000 43,050 43,050 DIZON MINES 6.67 6.88 6.67 6.9 6.67 6.89 1,900 13,070 9,645 2.46 2.47 2.45 2.49 2.45 2.47 1,867,000 4,612,180 -644,860 FERRONICKEL 0.33 0.34 0.33 0.34 0.325 0.34 530,000 178,950 3,250 GEOGRACE 0.154 0.155 0.159 0.159 0.154 0.154 51,560,000 7,996,850 LEPANTO A LEPANTO B 0.155 0.158 0.156 0.156 0.155 0.155 4,320,000 670,250 55,800 MANILA MINING A 0.011 0.012 0.011 0.012 0.011 0.011 415,600,000 4,619,600 0.011 0.012 0.013 0.013 0.012 0.012 219,800,000 2,639,200 21,900 MANILA MINING B 1.19 1.22 1.23 1.23 1.19 1.19 270,000 325,200 1,230 MARCVENTURES NIHAO 1.52 1.53 1.5 1.53 1.49 1.53 388,000 587,320 5.17 5.18 5.17 5.2 5.11 5.18 2,620,300 13,498,555 8,375,089 NICKEL ASIA 0.41 0.43 0.415 0.43 0.415 0.43 160,000 67,200 OMICO CORP 0.98 1 1.03 1.03 0.97 1 570,000 565,770 -1,010 ORNTL PENINSULA PX MINING 6.34 6.35 6.44 6.46 6.35 6.35 3,331,800 21,218,890 1,462,340 SEMIRARA MINING 14.4 14.44 14.5 14.58 14.38 14.4 885,700 12,775,086 -239,558 UNITED PARAGON 0.0091 0.0092 0.0092 0.0092 0.009 0.0091 36,000,000 328,000 18,200 20 20.3 19.8 20.3 19.48 20.3 237,900 4,724,036 -20,442.00 ACE ENEXOR 0.012 0.013 0.012 0.013 0.011 0.013 65,100,000 781,300 ORNTL PETROL A ORNTL PETROL B 0.012 0.013 0.011 0.013 0.011 0.012 1,372,000,000 16,459,100 0.012 0.013 0.012 0.013 0.011 0.012 200,000,000 2,318,000 1,300 PHILODRILL 7.7 7.72 8.06 8.07 7.68 7.7 2,682,800 20,977,679 690,819.00 PXP ENERGY

PREFFERED HOUSE PREF B 101 101.5 101.5 101.5 101.5 101.5 40 4,060 100.5 102 101.5 102 101.5 102 13,500 1,370,275 HOUSE PREF A 525 534 530 530 530 530 640 339,200 -74,200 AC PREF B1 AC PREF B2R 523 526.5 526.5 526.5 526.5 526.5 1,500 789,750 51.45 51.5 51.35 51.5 51.35 51.45 105,630 5,436,957.50 -251,986.50 CEB PREF 103.6 104 104 104 104 104 1,100 114,400 CPG PREF A 100.6 102.5 100.2 102.5 100.2 102.5 75,990 7,633,530 DD PREF GLO PREF P 503.5 516 517 517 504 504 1,120 564,610 1,035 1,049 1,049 1,049 1,049 1,049 5 5,245 GTCAP PREF B 100.8 101 101 101 100.8 100.8 10,700 1,078,800 MWIDE PREF 99.2 104.5 100.2 100.2 100.2 100.2 2,600 260,520 MWIDE PREF 2A 1,002 1,007 1,007 1,007 1,000 1,007 2,070 2,073,230 25,000 PNX PREF 4 PCOR PREF 2B 1,027 1,037 1,030 1,030 1,030 1,030 175 180,250 1,114 1,115 1,114 1,114 1,114 1,114 6,550 7,296,700 PCOR PREF 3A 1,150 1,159 1,150 1,150 1,150 1,150 100 115,000 PCOR PREF 3B 78.85 79 79 79.1 79 79 8,170 645,434 SMC PREF 2C SMC PREF 2E 76.15 77.8 76.2 76.2 76.15 76.15 19,500 1,485,450 78.7 79.55 78.75 78.75 78.7 78.7 130,000 10,232,500 SMC PREF 2F 78.5 79.5 79.5 79.5 78.5 78.5 5,600 444,700 SMC PREF 2I 77 79.5 77 80 77 80 34,740 2,675,280 2,666,510 SMC PREF 2J 75.6 76 75.6 75.6 75.6 75.6 1,650 124,740 - SMC PREF 2K

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 11.3 11.5 11.5 11.5 11.5 11.5 5,400 62,100 12.54 12.6 12.7 12.8 12.54 12.54 348,600 4,383,726 131,260.00 GMA HLDG PDR

WARRANTS LR WARRANT 1.94 1.95 1.91 1.98 1.89 1.94 1,241,000 2,389,690 -

SMALL & MEDIUM ENTERPRISES ALTUS PROP 17.58 17.64 18 18 17.64 17.64 129,700 2,299,034 8,900 2.46 2.5 2.47 2.54 2.45 2.5 413,000 1,020,950 -7,590 ITALPINAS 5.28 5.4 5.26 5.4 5.26 5.4 3,300 17,497 KEPWEALTH MERRYMART 4.26 4.27 4.28 4.3 4.25 4.27 2,581,000 11,027,460 -794,560

EXHANGE TRADE FUNDS

FIRST METRO ETF 105 105.6 105 105.9 105 105 5,680 597,866 17,899

www.businessmirror.com.ph

Globe secures ₧12-B loan from PNB, China Bank

G

By Lorenz S. Marasigan

@lorenzmarasigan

lobe Telecom Inc. has raised P12 billion in fresh capital after two local banks extended loan facilities to the telco to bankroll the company’s massive capital investments for the year.

In a disclosure to the stock exchange, Globe said it has signed a P7-billion term loan facility with Philippine National Bank (PNB) and another P5-billion loan with China Banking Corp.

“The loans shall be used to finance the company’s capital expenditures,” the disclosure read.

Globe is spending P70 billion in capital expenditures (capex) this

year, higher than the P60.3 billion capex spent in 2020 to further modernize its mobile and fixed line networks.

“The record-breaking capital expenditure supports Globe’s continuous modernization of its network to make 5G as well as fiber technology available to more customers nationwide as part of the company’s effort to help the country achieve a First

Photo from www.globe.com.ph

World Network,” the disclosure read.

Bulk of the capital or about 91 percent will be invested in data-related requirements “to support the fast-growing data usage and provide superior data customer experience.”

This includes the deployment of fiber optic cables, the construction of new cell sites, and the upgrading of existing towers to host 4G antennae.

In May Globe announced that it

secured a $100-million loan from the Bank of China (Hong Kong) Ltd., which will help bankroll the company’s capital expenditures for 2021.

Globe posted an 11-percent increase in net profits during the first quarter of the year to P7.30 billion from P6.69 billion the year prior, thanks to a new law on corporate income taxes.

SEC issues stern warning to online lenders

By VG Cabuag @villygc

T

he Securities and Exchange Commission (SEC) on Thursday said it will revoke the license of lending and financing companies that will not register their online lending platforms as business names and disclose all their existing online lending platforms.

The SEC, which issued its warning in its June 22 notice, seeks to cleanse the roster of lending and financing companies with potentially abusive operators that prey on Filipino borrowers.

“Continuous failure to comply despite being given notice of violations and an opportunity to make the necessary corrections shall constrain the commission to revoke the company’s certificate of authority to operate as a financing/lending company,” the SEC said.

In 2019, all lending and financing companies were required to report their online platforms to the SEC and register them as business names under SEC Memorandum Circular No. 19, Series of 2019.

The agency also directed lending and financing companies to display on their advertisements and platforms, their respective corporate names, SEC registration numbers and certificate of authority numbers.

The memorandum circular also reiterated the requirement for lending and financing companies to disclose to their borrowers the interest rates and all other imposable charges before the consummation of loan transactions as mandated by the Truth in Lending Act. So far, the SEC has penalized several companies for the late filing of reports, while show cause letters have been issued against 33 lending and financing companies for operat-

ing unregistered platforms.

The agency may impose a fine of up to P1 million to lending and financing companies which continuously fail to comply with its regulation. Noncompliance may also lead to their suspension for 60 days, or

the revocation of their certificates of authority.

To date, the SEC has revoked the primary registration of a total of 2,081 lending companies for their failure to secure the requisite certificate of authority.

mutual funds

June 24, 2021

NAV

One Year Three Year Five Year

per share

Return*

Y-T-D Return

Stock Funds ALFM Growth Fund, Inc. -a

222.69

8.07%

-3.12%

ATRAM Alpha Opportunity Fund, Inc. -a

1.4064

36.37%

-1.43%

1.64%

7.11%

9.79%

-7.58%

-5.85%

-1.97%

-3.31% n.a.

-3.06%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.0712

Climbs Share Capital Equity Investment Fund Corp. -a 0.7793 8.73%

-3.67%

First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.7336 8.33%

-2.62% n.a.

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

10.72%

-0.91%

-1.97%

0.7133

2.02%

-4.44%

4.8869

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

-3.12% n.a.

-1.08% -1.1% -6.53% -6.12%

MBG Equity Investment Fund, Inc. -a

100.21

24.05%

PAMI Equity Index Fund, Inc. -a

45.5487

9.76%

-1.07%

-2.55%

-2.77%

-1.7%

8.42%

-1.28%

-2.89%

-2.06%

18.32% n.a. n.a.

-1.01%

Philam Strategic Growth Fund, Inc. -a

478.93

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

1.0862

Philequity Dividend Yield Fund, Inc. -a

1.1448

9.46%

-1.39%

-2.13%

Philequity Fund, Inc. -a

34.1302

10.73%

-0.74%

-1.46%

-1.84%

8.62% n.a. n.a.

-2.52%

Philequity MSCI Philippine Index Fund, Inc. -a

0.89

-2%

Philequity PSE Index Fund Inc. -a

4.667

10.35%

-0.39%

-1.79%

Philippine Stock Index Fund Corp. -a

781.61

10.47%

-0.29%

-1.89%

-2.5%

Soldivo Strategic Growth Fund, Inc. -a

0.7149

10.32%

-4.72%

-4.86%

-0.56%

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.542

-2.59%

8.28%

-3.01%

-3.27%

-2.26%

Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8927 9.87%

-0.67%

-2.06%

-2.72%

United Fund, Inc. -a

-1.13%

-1.07%

-1.87%

-0.07%

-1.31% -2.46%

3.2569

9.01%

ALFM

-1.99%

Exchange Traded Fund

IPO of Tarlac Electric gets regulator’s nod

T

he Securities and Exchange Commission (SEC) has approved the initial public offering (IPO) of Tarlac Electric Inc. and Asia Pacific Medical Center (APMC)-Aklan Inc. In its en banc meeting on Thursday, the SEC approved the registration statements of Tarlac Electric and AMPC-Aklan covering 5.75 million common shares and 240,000 common shares, respectively.

Of the total number of shares registered, Tarlac Electric will offer 1.75 million common shares priced at up to P380 per share through an IPO. The shares will be offered over the counter and will not be traded on the Philippine Stock Exchange.

The offering is being made pursuant to Tarlac Electric’s franchise, which requires the company to publicly offer 30 percent of its outstanding capital stock to Filipino citizens on or before the fifth year from commencement of its operations.

Tarlac Electric expects to net P642.52 million from the offer.

Proceeds will be used to retire shortterm loans and to fund the company’s capital expenditure projects and general working capital.

The company engaged Penta Capital and Investment Corp. as sole underwriter for the transaction.

APMC-Aklan, meanwhile, will offer 35,420 shares, equivalent to 3,600 blocks or 10 shares per block at an offer price ranging from P250,000 to P350,000 per block. The shares will be traded over the counter.

The company expects to net P983.02 million from the offer, which will be used to complete the construction, development and operation of its hospital.

APMC-Aklan is currently constructing a seven-story, 216-bed health care facility worth P1.3 billion. The project is slated for completion by the second quarter of 2023. The hospital will include doctors/dentists’ clinics, office area for the health maintenance organization, administration office, parking lots, commercial area, and waiting areas for patients.

The intended market for the IPO will be medical specialists and their relatives.

Subscribing to the shares will qualify the medical specialists to practice at the hospital, subject to pre-qualification procedures, aside from earning dividends as may be declared. VG Cabuag

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

104.9123

10.42%

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

$1.25

28.95%

5.94%

8.53%

3.92%

Sun Life Prosperity World Voyager Fund, Inc. -a $1.7848

29.33%

11.13%

11.98%

6.7%

0.63%

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

1.6791

7.13%

1.34%

-1.52%

ATRAM Philippine Balanced Fund, Inc. -a

2.2489

7.37%

0.56%

-0.57%

-1.6%

First Metro Save and Learn Balanced Fund Inc. -a 2.6061

6.65%

1.48%

-0.54%

-0.8%

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1953

2.95% n.a. n.a. -1.66%

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

1.9574

5.64%

2.78%

0.47%

-0.34%

PAMI Horizon Fund, Inc. -a

3.6943

5.4%

2.15%

-0.68%

-2.48%

Philam Fund, Inc. -a

16.5678

5.89%

2.19%

-0.66%

-2.18%

Solidaritas Fund, Inc. -a

2.0659

5.86%

0.79%

-0.47%

-1.35%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.527

5.63%

-0.18%

-1.55%

-1.29%

Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9876

4.19% n.a. n.a.

-3.42%

Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.9093

5.43% n.a. n.a.

Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.8972

6.47% n.a. n.a.

-3.85%

Sun Life Prosperity Dynamic Fund, Inc. -a

8.14%

-0.05%

0.8873

-0.89%

-1.81%

-4.2%

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

$0.03828

-0.49%

3.33%

1.49%

-2.15%

PAMI Asia Balanced Fund, Inc. -b

$1.1286

15.21%

3.21%

4.93%

-1.88%

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.7066 21.67%

8.61%

8.63%

4.29%

5%

4.7%

0.82%

Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.2119 10.99%

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

372.25

1.96%

3.23%

2.44%

0.32%

ATRAM Corporate Bond Fund, Inc. -a

1.9277

-0.59%

1.28%

0.3%

1.44%

Cocolife Fixed Income Fund, Inc. -a

3.2284

1.35%

3.81%

4.33%

0.43%

Ekklesia Mutual Fund Inc. -a

2.2627

-0.69%

2.26%

1.41%

-1.45%

First Metro Save and Learn Fixed Income Fund,Inc. -a 2.442

0.55%

3.28%

1.76%

-0.46%

Philam Bond Fund, Inc. -a

4.4931

-0.99%

4.51%

1.45%

-3.05%

Philam Managed Income Fund, Inc. -a,6

1.3227

2.73%

4.23%

2.77%

0.11%

Philequity Peso Bond Fund, Inc. -a

3.9753

1.68%

4.41%

2.32%

-0.64%

Soldivo Bond Fund, Inc. -a

1.0375

1.47%

4.8%

1.75%

-0.43%

Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.2123

1.77%

5.47%

2.7%

0.2%

Sun Life Prosperity GS Fund, Inc. -a

0.92%

4.73%

2.05%

-0.39%

1.7481

Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a

$485.99

2.64%

3.2%

2.33%

ALFM Euro Bond Fund, Inc. -a

Є220.06

2.14%

1.13%

1.16%

0.44% 0.4%

ATRAM Total Return Dollar Bond Fund, Inc. -b

$1.1907

-2.18%

2.32%

1.28%

-7.01% -1.88%

First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0261 0.77%

1.85%

1.03%

PAMI Global Bond Fund, Inc -b

$1.0556

0.69%

-0.58%

-3.4%

Philam Dollar Bond Fund, Inc. -a

-0.88%

-1.22%

$2.5134

3.05%

5.51%

2.31%

Philequity Dollar Income Fund Inc. -a $0.0629824 4.07%

3.56%

2.25%

1.07%

Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1809

0.34%

3.34%

1.09%

-1.32%

2.53%

0.37%

Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a

130.29

1.77%

3.07%

First Metro Save and Learn Money Market Fund, Inc. -a 1.0528 1.16% n.a. n.a.

0.45%

2.56%

0.66%

Sun Life Prosperity Money Market Fund, Inc. -a

1.3051

1.74%

2.85%

Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0576

1.23%

1.67% n.a.

0.49%

Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 1.2672 n.a. n.a. n.a. 12.18% Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,2

$0.99

6.45% n.a. n.a.

1.02%

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

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

4 - Renaming was approved by the SEC last October 12, 2018 (formerly, One Wealthy Nation Fund, Inc.). 5 - Launch date is December 09, 2019. 6 - Reclassified 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."

www.businessmirror.com.ph

Banking&Finance

LandBank hikes support fund to Covid-hit business

S

TATE-RUN Land Bank of the Philippines (LandBank) has raised to P50 billion the available loanable fund for local businesses adversely affected by the Covid-19 pandemic to accommodate more borrowers.

This is the second budget hike made for the LANDBANK I-RESCUE (Interim REhabilitation Support to Cushion Unfavorably affected Enterprises by Covid-19) Lending Program since its launch in April 2020.

With an initial fund of P10 billion, the bank later doubled this to P20 billion in April 2021.

The L ANDBANK I-RESCUE Lending Program provides credit and loan restructuring assistance to businesses whose operations have been severely affected by the pandemic, through more flexible loan terms and conditions.

“Since its launch at the height of the pandemic last year, the I-RESCUE Lending Program has gained wide acceptance from borrowers striving to keep their businesses afloat amid the ongoing crisis. Rest assured that LandBank will continue to provide responsive credit assistance to support key sectors and contribute to accelerate the country’s ongoing economic recovery,” said LandBank President and CEO Cecilia C. Borromeo.

As of May 31, 2021, LandBank has approved loans totaling P20.95 billion to a total of 460 borrowers, comprised of 310 micro, small and medium enterprises (MSMEs), 83 cooperatives, 62 large corporations, and five (5) microfinance institutions (MFIs). Of this amount, 93 percent or P19.53 billion has already been released.

Under the I-RESCUE Lending Program, eligible borrowers may loan up

to 85 percent of their emergency or permanent working capital requirements, with an affordable interest rate of 5 percent per annum for three years, subject to annual re-pricing thereafter, and payable up to 10 years with a maximum of two years grace period on the principal repayment.

The Program also offers a subcredit facility for MSMEs and cooperatives, as well as self-employed individuals duly registered with the Department of Trade and Industry (DTI) and the Securities and Exchange Commission (SEC), classified to be critically affected by the ongoing pandemic.

Qualified borrowers may borrow a minimum amount of P100,000 or up to 85 percent of the actual permanent working capital requirement but not exceeding P3 million, at a lower fixed interest rate of 3 percent per annum, with no hard collateral requirement, and payable for up to three years.

For existing LandBank clients, the Program provides loan restructuring assistance via additional loan and extended repayment period, or a combination of means to rehabilitate and restore operational cash flow.

The L ANDBANK I-RESCUE Lending Program is available until December 31, 2022.

Interested borrowers may contact the nearest open LandBank Lending Center or Branch nationwide or call LandBank customer service hotline at (02) 8-405-7000 or at PLDT Domestic Toll Free 1-800-10-405-7000.

For more updates, please Follow, Like and Share the official LandBank Facebook, Instagram and YouTube accounts (@landbankofficial), Twitter (@LBP_Official), and join our Viber community (@LANDBANK), or visit the LANDBANK website (www. landbank.com).

SB Finance Corp. unveils new car title loan program

S

ECURITY Bank Corporation’s consumer finance arm SB Finance Corporation (SBF) launched a new car title loan program that will allow vehicle owners access to cash in exchange for their car’s OR/CR (Official Receipt and Certificate of Registration).

In a release on Wednesday, SBF said their ‘Car4Cash’ loan program intends to help Filipinos bounce back from financial distress that they may have experienced because of the pandemic.

The program was initially a product in Thailand and was brought here in the Philippines through its joint venture with Bank of Ayudhya (Krungsri).

SBF said they have leveraged Krungsri’s expertise in risk management and Security Bank Corporation’s knowledge in the local market to introduce an attractive loan offer to Filipinos who need fast cash in their time of need.

“A key competitive advantage of Car4Cash is that we only safekeep the OR/CR of clients and we do not encumber them. We want clients to feel assured that their vehicle remains their property while they use the funds they receive from our loan

product to fund their needs, may it be home improvement, expanding their businesses or increased financial liquidity,” SBF President and CEO Abbie Casanova said.

The financing firm said applicants simply need to fill out an application form, submit a copy of their OR/CR and wait 1 to 2 days for processing. Vehicles of up to 10 years of age are accepted.

“Helping Filipinos bounce back from the pandemic is a key element in all the products we plan to launch for SB Finance. Through the expertise of Security Bank in the local market and the success of Krungsri of Thailand in risk management, we are able to craft loan products that are tailored to supporting the success of Filipinos,” Casanova said.

In February 2021, Security Bank and Krungsri obtained board approvals to infuse PHP3- Billion into SB Finance upon receipt of requisite regulatory approvals. The additional capital will be used to fund investments in the latest cloud-based technology to support end-to-end customer journeys that are built on continued digital transformation.

Bianca Cuaresma

BusinessMirror

Editor: Dennis D. Estopace • Friday, June 25, 2021

BOC starts pilot operations of automated bonds system

T

By Bernadette D. Nicolas

@BNicolasBM

HE Bureau of Customs (BOC) said it has already started its pilot implementation of the Automated Bonds Management System (ABMS) for Warehousing in the Port of Manila.

According to BOC, the ABMS is a bureau-wide system for processing bond transactions which enables them to effectively monitor the status of bonds and expedite the settlement or collection of due and demandable bonds. An automated procedure under the Electronic to Mobile (E2M) Customs System, the ABMS also monitors and ages bond balances and flags those that have already expired.

Under Customs Memorandum Order (CMO) No. 17-2021 signed

by Customs Commissioner Rey Leonardo B. Guerrero, the Bureau of Customs said ABMS shall now cover warehousing bond accounts or General Warehousing Bonds (GWB).

The CMO applies to all Warehousing Bond Accounts opened under the E2M Customs System in all collection districts, including sub-ports and other offices.

The bureau added the GWB shall be exclusively used to secure the duties and taxes reflected in the

The Bureau of Customs main office in Manila. FILE PHOTO

Warehousing Single Administrative Document as they discontinue their practice of charging against the GWB the amount of duties and taxes on shipments for transit to Customs Bonded Warehouses (CBW). Thus, there is a need for the CBW operator to open a bond account for the transit of goods from the Port of Discharge to the CBW.

PCAAE & BusinessMirror: 5 years on

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IVE years, 236 column articles, and countless promotional exchanges marked the continuing partnership of the Philippine Council of Associations and Association Executives (PCAAE) and BusinessMirror since signing a memorandum of agreement on June 29, 2016.

While the agreement was founded on promoting each other’s interest in their respective constituencies, the underlying objective was actually beyond this. It was about advocating for and advancing the professionalization of association management and governance in the country, as well as communicating the significant role associations play in society and in national development. Through this column, we are able to educate readers on association management and governance practices and trends, as well as to disseminate the good deeds of associations here.

Many things have happened over the course of five years, especially in the last 16 months, due to the Covid-19 global pandemic. Like their business organization counterparts, associations have also experienced a downturn. In terms of as-

Association World Octavio Peralta sociations, the adverse effects were felt in what they do best—providing education, tools and solutions, community support, and peer-to-peer exchanges to their members and stakeholders—as their events were limited, postponed or cancelled, member engagement hampered, and financial resources dwindled, among others.

Despite these challenges, good news also abound. Associations have been resilient by quickly adapting to digitalization, with in-person interaction becoming mostly virtual with good results. They have also shifted readily to remote work and to re-skilling or up-skilling their staff. They also found that partnership and collaboration with other associations and like-minded institutions provided the impetus to do more and better.

Amidst these developments, it

was enlightening to note that the PCAAE-BusinessMirror partnership not only continued, but flourished. In particular, this column is now being accessed and read by more people not only here but also abroad, thanks to the digital version that BusinessMirror puts out in its website and via its social media outlets. PCAAE, for its part, posts this column on LinkedIn and on Facebook, aside from including it in its monthly e-newsletter and website.

The PCAAE-BusinessMirror partnership has also gone beyond publications and media mileage. PCAAE members and other stakeholders such as the Tourism Promotions Board, the Philippine International Convention Center, and my organization, and the Association of Development Financing Institutions in Asia and the Pacific (PCAAE’s three founding institutions) have also indirectly benefited via public exposure and business opportunity openings.

Currently, PCA AE has three flagship programs: (1) the annual Associations Summit, now on its ninth year; (2) the ANG SUSI (for Associations Nurture National

Customs Bonded Warehouses refer to warehouse facilities licensed by the bureau to import, receive, and store without payment of duties and taxes and under bond, goods, raw materials, accessories and packing materials either for manufacture into finished products for export or storage for the account of authorized end users or clients.

Growth through Social Unity and Sustainability Innovations) Awards that honor associations for their role in nation building; and (3) the Certified Professional Association Executive program, a six-module credentialing course, now with 56 graduates and counting. In addition, PCAAE publishes the IDEAS e-newsletter and the Association World magazine, and has extensive networks globally for knowledge exchange and capacity-building collaboration.

All these would not have been possible without the support of BusinessMirror, the “Associations’ Newspaper.”

The column contributor, Octavio ‘Bobby’ Peralta, is concurrently the secretary-general of the Association of Development Financing Institutions in Asia and the Pacific, Founder & CEO of the Philippine Council of Associations and Association Executives and President of the Asia-Pacific Federation of Association Organizations. The purpose of PCAAE— the “association of associations”—is to advance the association management profession and to make associations well-governed and sustainable.

PCAAE enjoys the support of Adfiap, the Tourism Promotions Board, and the Philippine International Convention Center. E-mail: obp@adfiap.org.

Capital relief & health-linked coverage to drive Nat Re growth in 2021

G

REATER demand for financial reinsurance, coupled with higher health-related insurance coverage amid the ongoing pandemic, are expected to support the growth trajectory of the National Reinsurance Corporation of the Philippines (Nat Re) in 2021.

“We continue to identify pockets of growth such as opportunities resulting from the need for capital relief re-

insurance solutions and higher health insurance covers, as well as partnerships with foreign reinsurers,” Allan R. Santos, Nat Re President and Chief Executive Officer, told company shareholders at the 2021 Nat Re Annual Stockholders’ Meeting last June 23.

In 2020, Nat Re’s life reinsurance business grew by 16 percent as the pandemic only had minimal impact on the company’s underwriting results.

Through well-attended webinars, Nat Re delivered to life insurers relevant information and tools on topics such as but not limited to remote selling and underwriting, home-based medical examinations, legal implications of remote insurance selling, and techniques in estimating the costs of Covid-19 products. Nat Re continued to support building the capabilities of its life cedants’ technical professionals, providing

tailor-fit training such as individual medical underwriting, group insurance pricing, and claims evaluation.

Nat Re also supported the insurance industry’s clamor for simplified underwriting amid the challenges of the traditional procurement of medical evidence of insurability, and supported the government’s mandate to extend payment deadlines of insurance contracts.

SSS pushes resort to digital system as membership tally hits over 40 million

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HE Social Security System (SSS) announced that 40.49 million members have been covered as of April 2021, allowing it to expand social security protection services to more individuals, particularly in times of contingencies.

About 76 percent or 30.77 million are employed members, while 5.03 million are voluntary paying members, 3.35 million are self-employed members, and 1.34 million are Overseas Filipino Worker (OFW) members.

“Our rapidly increasing membership base signifies that SSS is a basic necessity for working Filipinos. They have realized that social security protection is an investment and insurance, rather than a financial burden.

Once covered by SSS, members can avail of benefits and loan privileges, thereby providing them adequate safety nets. This benefit even extends to their legal beneficiaries who can receive the SSS benefits of a deceased member,” SSS President and Chief Executive Officer Aurora C. Ignacio said.

Actively paying members are allowed to claim benefits for sickness, maternity, disability, unemployment, retirement, death, and funeral.

They are also qualified to avail of various loan program offerings for salary, calamity, educational, and social development, while retiree pensioners can apply for a pension loan.

To become an SSS member, an applicant must obtain a Social Security

B3

(SS) Number through the My.SSS Portal in the website www.sss.gov. ph or through the SSS Mobile App. For an SS number to be permanent and to avail of various SSS benefits and privileges, new members are required to upload supporting documents like the PSA-certified birth certificate, marriage contract (if married), or baptismal certificate (if with children) in the online SS number application in the SSS Website.

“We also enhanced the online application of SS numbers so that members don’t have to personally visit our branches to submit the supporting documents. Aside from that, they can also submit requests for simple corrections and upload required documents through their

My.SSS account for the number to be permanent,” added Ignacio.

The complete list of documentary requirements for updating of member record status from “temporary” to “permanent” can be found in the SSS Member Data Change Request Form https://www.sss.gov.ph/sss/ DownloadContent?fileName=SSSFor ms_Change_Request.pdf Registrants who recently applied for an SS number online will be given a link to activate their My.SSS account registration under the 2-in-1 SS number online application.

“The convenience and comfort brought by our online and mobile platforms are the main reasons nonmembers apply for SSS coverage.

Aside from obtaining an SS number,

members and employers may skip long queues in branches as the majority of services such as benefit and loan applications, contribution payments, Payment Reference Number (PRN) generation, updating of membership information, as well as viewing of contribution, loan records, and loan and benefit claim status can now be done via My.SSS and Mobile App,” added Ignacio.

The SSS chief also reminded self-employed, voluntary, and OFW members to pay their SSS contributions regularly to ensure eligibility to benefits and loan privileges.

“Members can generate their PRN via My.SSS account and SSS Mobile App. They can also request for a PRN via Text SSS by texting the required

keywords to 2600,” Ignacio said.

With the current online platforms in place, rest assured that we will continue to expand and improve our services for the benefit of our members.

We added maternity benefit application (MBA) and maternity benefit reimbursement application (MBRA) as part of the portfolio of electronic services under the My.SSS Portal starting May 31, 2021, while the mandatory submission will be on September 1, 2021,” Ignacio concluded.

For more information and updates, follow SSS on Facebook and YouTube at “Philippine Social Security System,” Instagram at “mysssph,” and Twitter at “PHLSSS,” or join its Viber Community at “MYSSSPH Updates.”

B4

Friday, June 25, 2021 • Editor: Gerard S. Ramos

Relationships BusinessMirror

www.businessmirror.com.ph

Today’s Horoscope

PHOTO BY KON KARAMPELAS ON UNSPLASH

By Eugenia Last

z

CELEBRITIES BORN ON THIS DAY: Busy Philipps, 42; Linda Cardellini, 46; Ricky Gervais, 60; Carly Simon, 76.

Happy Birthday: Take the world by storm. Focus on what you feel passionate about doing, and set your plans in motion. Gather information and make personal changes that will help you reach your target. Speak the truth and have the facts to back up your beliefs. Listen, plan and do your best, and everything will fall into place.

Romance is encouraged. Your numbers are 4, 8, 17, 23, 26, 34, 40.

a

ARIES (March 21-April 19): Keep your emotions in check, your thoughts on target, and your focus on health, wealth and the pursuit of happiness. Refuse to let anyone slow you down or stand in your way. Determination and an energetic approach will pay off. HH

b

Virtus Awards to recognize hotel champions

I

T’S that time of the year again when sales and marketing professionals in the hotel industry get recognized by their peers for their efforts in putting the word out about their respective properties.

With Covid-19 continuing to put a damper on revenues, these hotel professionals are working harder than ever to shine a light on their new products and services, even as many of them continue to host a captured market of hosting repatriated overseas Filipino workers, returning overseas Filipinos, and a handful of foreigners exempted from the government’s strict travel restrictions.

The Hotel Sales and Marketing Association Inc. (HSMA), a 140-member group of hotels and resorts in the country, launched their Virtus Awards in an online presser on June 15. While the group’s very active officials were very much present, missing in action was the ever-jovial HSMA president Christine Anne H. Ibarreta, who started the Virtus Awards.

Christine has fallen ill to that dreadful Covid-19, which she contracted on the job. Many of her colleagues and friends know how much she’s dedicated to her job as corporate director of sales and marketing at Golden Phoenix Hotels, and as HSMA president. I remember one time I was trying to interview her as she was busily welcoming arriving overseas Filipinos at the NAIA, where HSMA has a booth. At the NAIA, the group has been helping the government facilitate the assignments of Filipinos to their quarantine hotels amid this pandemic.

(Christine is sorely missed by many; please remember her in your prayers as she valiantly fights her medical condition. Thank you.)

Very much like Christine when it comes to exhibiting resiliency, the tourism and hospitality

industy has done such an admirable job of doing so especially under the unique circumstances presented

by Covid-19. So like last year, the Virtus Awards will give special awards to recognize unique anti Covid-19 efforts by HSMA’s members. Dubbed SNAP (Survive, Neutralize, Adapt Programs), these individual and group awards will go to member-properties that were able to quickly pivot and address the evolving challenges brought about by the pandemic and emerge stronger.

“For the second year now, the Virtus Awards will give due recognition to hotel sales and marketing professionals who make it a point to think out of the box and do what they can to contribute to the growth of their properties amid these most challenging times,” said HSMA vice president Benjie Martinez (The Bayleaf Hotels). “Now more than ever, we at the HSMA also want to continue motivating our colleagues through these awards.”

The SNAP Awards will highlight the best and most creative virus-mitigation practices, recovery strategies, business concepts, digital transformation initiatives, audience-specific communications, talent development, workplace safety and wellness, sustainability efforts, and any other related programs.

The Virtus Awards will still include its four original categories (three individual honors and one team award) that cover achievements in terms of realized sales targets, systems improved, client satisfaction, property facilities/amenities enhanced, and other value-adding outcomes.

The individual categories (Outstanding Sales and Marketing Associate; Outstanding Sales and Marketing Manager; Outstanding Sales and Marketing Leader) will also cover initiatives/projects/ endeavors that reflect innovative strategies and inspiring stories of the resilience and creativity of hotel sales and marketing professionals in mitigating the economic impact to their properties brought about by the global health crisis. The team category (Outstanding Marketing Campaign of the Year) will cover marketing campaigns that engage the public/ customers to effectively reconnect with their favorite travel haunts pre-pandemic.

But why enter the competition at all? According to Virtus Awards chair, veteran hotelier Rose H. Libongco in her message at Tuesday’s launch, “Fielding your associate sends the signal to all

employees that you value hard work and dedication, and instill in them the desired behaviors. Having a candidate puts your brand out there and eventually emerging as a winner will speak volumes about your work ethics and service delivery to set you apart from the competition. A plum prize is the motivation that will keep not only the nominee but the team stoked to perform better for pride and bragging rights.”

With 140 active members, HSMA, through the Virtus Awards, has been propelled into a whole new level of advocacy and raised the bar when it comes to motivating and encouraging excellence among the Philippines’ best tourism and hospitality players.

Throughout this very trying period, they have also found valuable partners in the Department of Tourism (DOT) and its marketing arm, the Tourism Promotions Board (TPB).

These two government agencies, said HSMA board chair Margie Munsayac (Bluewater Resorts), have been nothing short of relentless in their goal to help tourism and hospitality companies of all sizes recover from Covid-19’s huge economic impact. “The DOT, through Secretary Bernadette Romulo Puyat, and the TPB, through chief operating officer Ma. Anthonette Velasco-Allones, have helped us immensely in ensuring that our connection to our customers remain the same despite Covid-19. For that, we highly value our continued partnership with them.”

The deadline for submission of entries for the Virtus Awards is on August 31. Judging of the nominees will be carried out online on September 25, while the awarding itself will be on October 26.

(Check out HSMA’s Facebook page on for updates and mechanics for submission of nominations.)

Other projects that HSMA has lined up in the coming months, said Benjie, are all in partnership with the DOT and TPB. One is the “Go Safe, Go Travel” series that will be produced by HSMA-GPS TV. The series will kick-off in July and will run until October. “HSMA believes that the general public has to stay constantly informed on developments in our tourism industry, both at the national and local levels,” he said. The infotainment series will feature the latest health protocols, tourism campaigns and undertakings of different localities across the country. HSMA will air this series on various social-media platforms and on Cignal TV. n

TAURUS (April 20-May 20): You’ll face opposition if you are too vocal about your intentions. Don’t give anyone a chance to meddle in your business or to belittle your plans. Go directly to an expert for information to avoid being misdirected. Do your own thing. HHHHH

c

GEMINI (May 21-June 20): Leave nothing to chance. Take care of business, and don’t count on anyone to do things your way. Look over your options for reasonable ways to fulfill your promises without going into debt. HHH

d

CANCER (June 21-July 22): Selfimprovement projects will boost your morale and give you the courage to share your thoughts and plans with someone you love. Speak from the heart, and you will captivate your audience.

Personal gain is in the stars. HHH

e

LEO (July 23-Aug. 22): Share your plans with someone special. The interest you receive will increase your enthusiasm and help you complete what you set out to do. Make a commitment that honors your long-term goals, and take action to ensure you reach your destination. HHHH

f

VIRGO (Aug. 23-Sept. 22): It’s up to you to bring about change. Learn from your mistakes, and you’ll be able to move forward with a perfect plan. Opportunity knocks, and it’s up to you to take advantage of what comes your way.

Romance is encouraged. HHHHH

g

LIBRA (Sept. 23-Oct. 22): Be aware of what’s important to others before you bring about change. Getting along will be half the battle and will require patience and intelligence to get things running smoothly. Keep your emotions in check, then proceed with compassion. HH

h

SCORPIO (Oct. 23-Nov. 21): Reach out to a friend or relative to catch up. It will give you a better understanding of what you can do to make a difference. A financial opportunity or gain is in the stars, and a partnership looks inviting. HHHH

i

SAGITTARIUS (Nov. 22-Dec. 21): Past problems will give insight into the best way to move forward. Distance yourself from unreliable people. Make your intentions clear and carry on without hesitation. A physical change at home that cuts your overhead will offer peace of mind. HHH

j

CAPRICORN (Dec. 22-Jan. 19): Take control of whatever situation you face. If you wait for someone else to make the first move, you’ll miss an opportunity. Embrace change, and share your plans with someone you love. HHH

k

AQUARIUS (Jan. 20-Feb. 18): Take your time, follow instructions and do things properly. Refuse to let someone disrupt your day or your plans. You’ll be happy with the results you get and the opportunities that come your way if you do your own thing. HHH

l

PISCES (Feb. 19-March 20): Do a good job, and rewards will follow. Focus on presentation, updating your image and taking better care of your health and well-being. A unique proposal will lead to a positive lifestyle change. HHHH Birthday Baby: You are curious, outgoing and determined.

You are thoughtful and cerebral.

‘pride month themeless III’ by lita and tass williams The Universal Crossword/Edited by David Steinberg

ACROSS 1 Unnamed Phoebe Waller-Bridge character 8 Put a cold pack on, say 15 Flower symbolizing love 16 Newbie on the job 17 Clearly aggravated 18 Popular scouring products 19 Prefix for “belief” 20 Euphoria 22 Morse code click 23 Actress Rowlands 25 Seethes 26 “Imperial gem” in ancient China 27 Foe 29 Word aptly hidden in “onboard” 30 Sensational and melodramatic 31 Bering ___ 33 Something likely to succeed 35 Extreme enthusiasm 37 Mani’s partner 38 Told off 41 One’s value?

45 Thyroid, for instance

6 Ding or chip 4 48 “Peachy keen!”

49 Dry or wet applications, at a barbecue 50 Lowest number?

52 Storm centers 53 Spherical body 54 She played Liz Lemon in 30 Rock 56 One of Dracula’s forms 57 Beach adjacent to Copacabana 59 “Is there still time?”

61 Nullified 62 Largest penguin variety 63 “Listen to me...”

64 Tails off DOWN 1 Places to grab a beer?

2 Opposite of strict 3 “Up” star 4 “___ gratia artis” (MGM motto) 5 Common shape for a dog treat 6 Sneaker brand whose name is an acronym 7 Arrives at

8 Cry at the end of a movie?

9 What two obscure puzzle answers shouldn’t do 10 A piece of cake 11 Guacamole or salsa 12 How some stunts are done 13 “Hooray for us!”

14 Like a loop within a loop, in programming 21 Afternoon socials 24 Warriors such as Wonder Woman 26 Notable anniversary 28 Triangular road sign 30 Deceived romantically 32 Tiny amount 34 Spoon-___ 36 Drink that can be pink 38 7-Eleven drink 39 Main ingredient in kimchi 40 Facts and figures 42 Completely reveal 43 Stuffed oneself 44 Lists of members 45 Athletes may pull them

7 San ___ (city north of San Francisco) 4 50 Gadget such as a stopwatch 51 “I wanna!”

54 Head, in Paris 55 Puppy sounds 58 “No way!”

60 “___ Miz”

Solution to Tuesday’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

STAR-CROSSED ROMANCE PLAYS OUT IN ‘ANG DALAWANG IKAW’

HOW well do you know your significant other? Is true love enough to endure the trials of choosing to be with someone who switches personalities and lives in a world outside of yours? GMA brings another progressive and advocacy-driven story involving the life of a married couple and the challenges they face brought about by a mental disorder in the afternoon series Ang Dalawang Ikaw, which premiered on June 21.

The original series features the much-awaited return to the small screen of the well-loved tandem of Ken Chan and Rita Daniela, taking on their most mature roles yet, along with promising GMA actress Anna Vicente.

Notable for his wide-ranging and challenging roles, Ken is all set to showcase his remarkable acting prowess as he breathes life into the characters of Nelson Sarmiento, the dutiful husband who is a senior graphic artist, and his alter personality, Tyler Franco, the hot-headed gun dealer and fiancé of Beatrice. Rita plays the strong-willed and family oriented wife of Nelson, Mia Perez-Sarmiento, while Anna portrays the role of Beatrice Ilustre, a two-faced gun dealer who goes to great lengths for the sake of love.

Ken, who underwent a series of intensive workshops and consultations for his role as a person with Dissociative Identity Disorder (DID), believes that their show is a step toward spreading awareness on mental health issues in the country.

“Naniniwala ako na ang serye namin na Ang Dalawang Ikaw ay magiging instrumento para ipaintindi sa viewers kung ano ba ang tunay na pinagdadaanan ng mga taong may DID. Nais naming iparating sa kanila na huwag tayo agad-agad manghuhusga ng mga tao. Intindihin, unawain at suportahan natin ang bawat isa. Leave no one behind,” shares Ken. Rita, in turn, reveals what is the secret behind RitKen’s successful on-screen chemistry, “We’re so comfortable with each other and we always give our 100 percent in everything we do, mapa-acting, hosting, or performing. I believe na Ken brings out the best in me and the same goes with him.

Sa tagal na namin magkasama sa industriya, alam na namin kung paano namin aatakehin ’yung roles namin both as individuals and as a tandem. I’m really happy and excited to be working with him in a series again.”

Completing the highly talented roster of stars are Jake Vargas, Dominic Roco, Lianne Valentin, Joana Marie Tan and Jeremy Sabido.

The engrossing drama is under the supervision of the GMA Entertainment Group headed by SVP for Entertainment Group Lilybeth G. Rasonable, FVP for Drama Redgie A. Magno, SAVP for Drama Cheryl Ching-Sy, program manager Dennis Joi K. Bentulan, and executive producer Arlene D. Pilapil.

Viewers abroad can also catch the program via GMA’s flagship international channel, GMA Pinoy TV. KEN CHAN and Rita Daniela headline Ang Dalawang Ikaw.

JUST A GIMMICK

THE teen star posted something on social media that triggered a lot of speculations about his relationship with a popular young female star. The truth is that for now, the two young stars are just friends. The post was to drum up interest in a project they are doing and it is working. A lot of people now believe that they are indeed a couple in love.

This gimmick also worked with a gay starlet and an actor whose project became a mild hit because people believed they were in love when they weren’t even friends.

A GOOD DEAL

PICTURES of the male starlet with his old face are on the Internet (specifically Twitter and Facebook) and this is the most that anyone has paid any attention to him in showbiz.

Apparently, a gay benefactor with an unsavory reputation

Editor: Gerard S. Ramos

• Friday, June 25, 2021

From comics to cinema: Promising rainbows and rains

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F anyone tells me “There is this fine and funny series on TV about TV, you should watch it,” I will tell him, “What is there to say about television? Isn’t there is enough cloying drama—and cliché—on free TV each day! A film about them?”

But leave it to the Japanese to transform a story about rookie newscasters, presenters and technicians into a feel-good tale about goodness in the hearts of creatives.

The series is called Stay Tuned. It is a story of a rookie reporter whose clumsiness belies a daringly different way to approaching TV reporting.

We see Hanako Yukimaru applying for a job, making a messy impression and, during an actual field test, missing the time for the presentation. She, however, is able to convince the board to listen to her. She does not give any excuse for her tardiness, a Japanese way of creating a character couched in a culture where there is no place for excuses.

Together with Yukimaru are other applicants to the HHTV, which stands for Hokkaido Hoshi TV. Hoshi is Japanese for “star.” The location, by the way, is another charming point for the series, because instead of having it in Tokyo or in another major city, like Osaka, all the events take place in that northernmost territory of Japan.

What is the market in Hokkaido? What events are ever covered by TV journalists in Hokkaido?

Along the way, like a fairy tale, there are barriers to surmount and some villains trying to snatch the map to the rainbows and perfect meadows from our heroine, but we go along for the ride. We know where the plot is bringing us to: happiness. The magic and the excitement is in the direction and end of this journey. We never know what will happen at the end of each rain or rainbow.

There is another character in the show: Hajime Yamane, a young gentleman but a tad serious. Goodlooking and intelligent where Hanako is bumbling and crass, Yamane wonders why this woman ever manages to be part of the rookie team. They work together, with Yamane following seriously the step-by-step procedure a formally trained journalist has been taught to follow. He would produce results of course. Yukimaru, her defenses always down (or maybe she does not have any defenses at all), stumbles, creates more conflicts where there should be none, and then causes a chain of events making for a wonderful news coverage.

There are many other personalities in this show. There is Maki Hanae, a winsome presenter whose dream is to be able to stand before the camera and deliver the news impeccably.

We see in her the broadcast culture of another industry.

There is one scene where she is left to cold-read the news, meaning she is not given the copy beforehand because,

yes, Hanako Yukimura is the one writing the story and is left with little time to do it. Hanae struggles through the difficult characters or kanji. But the fact that she survives this makes even her apprenticeship significant. Thanks and no thanks to Hanako Yukimura.

There is the rookie technician who has to go through a “test” before he is handed his license. He does not know in what form the test will be given. The young master control technician observes the rituals held when a shift takes place between one group of technicians and another group. That ritual will play a great part in his becoming a full-fledged member of the team.

Amid the formally suited TV executives roams wildly the “artist” behind the newscast. He is dressed in shirts with loud prints, and walks around eating snacks. He does not prescribe but observes, and then probes. He pushes people to think out of the box. And we know there is a huge box from which a good Japanese employee has to wiggle himself out if he is to produce a new, sparkling product. This TV executive reveals a strategy of introducing a “fool” that will stimulate others to innovate. Guess who the fool is?

For the Filipino audience weaned on histrionics and intrigues when it comes to depicting corporate or showbiz culture, they will miss the predictable and cheap backstabbing and rumor-mongering. They will not see flippant behaviors and exchanges of acerbic wit. The development of the characters are, to use that much abused term, “organic.” It is the Japanese person responding to the demands of the society, the individual within the frame of that community.

cheated on his wife and was always supportive of her. He worked very hard to put his kids through school and he’s still very close to them.

paid for all the work he has had done on his face and body.

The male starlet via his benefactor reportedly spent close to a million on everything, including treatments to lighten his skin. In exchange, the starlet agreed to let his benefactor take compromising pictures and videos. Will the gay benefactor ever release those pics publicly? The starlet hopes not.

BECAUSE OF ALCOHOL

IN LOVE AGAIN

THE senior actor is single, and all his kids are grown and have lives of their own. The starlet, whose father used to be an actor, is in her late teens. They are doing a project together and because most tapings are locked-in, it wasn’t surprising that they developed feelings for each other. This is the first time that the actor has fallen for another woman since he fell in love with his wife. There’s just one thing

Stay Tuned has such a fresh approach to the lives of broadcast journalists because it is not premised on a world that is a snake pit. There is so much to cover and report that TV people should not have time to be bothered by bad hair day, or by bad blood among them. There is politics in Japanese TV but details about power play can be very boring.

It has been done already.

This is a genre where women do not hate each other, and young male rookies and female rookies do not necessarily destroy each other. They do not also fall in love with each other. Puleeeze. That is trite, tired and tiring.

Composed only of five episodes, the series felt short. I wanted it to go on for some more. Perhaps, I was hoping Hajime will notice how pretty Yukimura is, but that will be an insult to rookies and field journalists everywhere. Hajime will notice Yukimura not for her cute ways but in what she achieves. When the show ends, Hajime remains serious and does not become a hunk; Yukimura still finds fun in her reckless ways. This is called respect.

Kyoko Yoshine as Yukimura and Hiroki Iijima as Yamane both remind us that Japanese actors are dreamily charming.

Stay Tuned is based on a Japanese manga, Channel wa Sonomama! This can be translated as “Keep the Channel That Way” or “Don’t Change the Channel.” Written by Noriko Sasaki, the comics was serialized in the seinen (young adult) manga magazine, Big Comic Spirits.

The Japanese television drama adaptation is a production of Production I.G. and TV Asahi affiliate HTB. It is now streaming on Netflix. ■

thing though: The starlet is way younger than the actor’s children. The actor is, in fact, from one generation before that the starlet’s dad. They are in love and not ashamed of it. The actor has been a good husband and father. He never

THE male young star was so wasted one time that he blabbed about his true feelings for his screen partner.

He disclosed that even his family tried being close to his partner just so she’d believe he was really into her. Of course, no one knows whether the things he said were true or not as the young star was drunk but the thing is, someone recorded it and spread it so that it would reach his partner, who understandably got angry. That, coupled with the revelation that he had been seeing another girl while claiming to like her. Yes, she believed him but that’s because he seemed sincere.

Remembering my mom and talking shop

MY friends know that I’m a mama’s boy. She played a big role in my life.

My mom was an uncomplicated woman with a few simple dreams for me and my siblings. She wanted us to succeed, do something with our lives. She always thought that I would make a good lawyer because she said I talked too much. Well, at least she got that right.

Her firm belief in me was a constant source of inspiration. We grew up without having much in the way of material wealth. Our family was not poor

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that we had to go out and beg but it wasn’t what you would call a comfortable, even easy life. And when my mother passed away, I was already close to begging actually just to finish my studies but that’s a different story.

My mother was a true homemaker. While she didn’t have much resources to work with, she made sure we had a comfortable house to go home too. We lived in a quaint little house, and if her meager budget would allow, she would try to make our house better by buying a small piece of furniture to brighten up a room. Yes, our house was modest, a far cry from the mansions where my classmates from La Salle lived but I loved our home.

When it was my time to renovate our house, one of the first things I looked for was a comfortable sofabed similar to what my mother. I looked everywhere, sat and laid on a lot of them but nothing was as comfortable. And then while I was in Wilcon Home Depot to get some tiles and adhesive, I found myself wandering the expanse of the store and discovered they had a furniture department. Somehow, this

sofabed caught my attention. It’s cute and reasonably priced. I tried it and when my arse landed on the cushion, I found my holy grail in furniture. Sitting on it, it felt like I was transported back to my childhood, back to the comforting arms of my mother.

That trip to Wilcon Home Depot permanently changed my idea of the store. What I thought of as a store to get only building materials or hardware items has become something more. I now enjoy my trips to the store, whether to look at some item for the house I plan to buy in the future, or window-shopping for furniture or even appliances.

That is why I was so happy to get a press release from Wilcon and learned that not only are they the country’s leading home improvement and construction supply retailer but they too have a heart.

They recently extended assistance to the Philippine General Hospital (PGH) after a fire damaged a part of the hospital. The company successfully handed over their donation, which included a chest freezer to the state-owned hospital’s Neonatal Intensive Care Unit (NICU) that will serve as their breast milk storage for

babies. The turnover was led by Wilcon Home Depot marketing manager Dheza Paras and PGH NICU Fellow Dr. Maria Clariza Coronado.

Incidentally, Wilcon also opened a new branch in Leyte and started operations of its online shopping platform to bring a bigger and better home shopping experience to its values customers nationwide.

I recently tried it and it was so convenient. I was surprised with the wide-range of products available, ranging from tiles, sanitary ware, furniture, building materials and many more. In fact, it’s like a black hole and I found myself browsing the web site for an hour and didn’t even notice it. I swear the Wilcon online store (shop.wilcon.com.ph) offers a shopping experience that is exciting and even amazing. Still, I won’t mind going to an actual Wilcon store and find myself mindlessly wandering its aisles, trying to look for more things that will remind me of my mother.

Besides, did I tell you they also have a hotdog stand with sandwiches to die for? But like my story on once almost begging for my tuition fee, that is a different story.

THE Japanese series Stay Tuned, which is streaming on Netflix.

B6 Friday, June 25, 2021

136,000 SSS members receive over P1.71-B unemployment benefits in 2020

GCG celebrates a decade of legacy building

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RESIDENT Rodrigo Duterte noted the milestones of the Governance Commission for GOCCs (GCG) since the enactment of the GOCC Governance Act of 2011.

“GCG has been instrumental in enabling GOCCs to become catalysts for our nation’s economy and growth development. I hope this milestone will further inspire the men and women of the Commission to work even harder, ensuring that transparency and accountability will become the norm,” President Duterte said through a recorded message.

The GCG, the central monitoring and oversight body of government-owned or-controlled corporations (GOCCs), celebrated the 10th Anniversary of Republic Act No. 10149, otherwise known as the GOCC Governance Act of 2011 on 11 June 2021.

The virtual celebration officially marked the Commission’s 10th year of policy-making, performance evaluation, and promotion of corporate governance that enable GOCCs to become significant tools for economic growth and development.

Senator Franklin M. Drilon, the principal author of the GOCC Governance Act, commended the contribution of GOCCs in raising funds for the government’s COVID-19 response. He also noted that the

potentials of the law may be further maximized.

During the celebration, GCG Chairperson Samuel G. Dagpin, Jr. said “We have done a lot. And there is much more to do regarding rationalizing the GOCC Sector and enhancing competitive neutrality, implementing the CPCS (Compensation and Position Classification System), promoting participatory governance in the Sector, and raising corporate governance to international standards, among others.”

Department of Finance Secretary Carlos G. Dominguez in a live message lauded the great strides that have been

made in improving the performance of GOCCs and the valuable governance reforms implemented by the GCG in the government corporate sector. He in turn challenged GCG to correct the seeming incongruence between its evaluation against those made by other regulatory agencies.

During the virtual celebration, the Governance Commission also recognized its partners, such as the Securities and Exchange Commission, Presidential Commission on Good Government, the Office of the Ombudsman, among others, for their contribution to promoting good governance in GOCCs.

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HE Social Security System (SSS) released in 2020 more than P1.71 billion in unemployment benefits to 135,814 qualified members.

Preliminary data from the pension fund showed that the unemployment benefit releases last year increased nine-fold from P177.86 million in 2019. The number of claimants also increased by the same level from only 14,895 members recorded in the same year.

“The significant increase in the amount of benefit releases and the number of memberrecipients in 2020 is largely attributed to the effects of COVID-19 crisis to the Philippine economy,” SSS President and Chief Executive Officer Aurora C. Ignacio said.

Among the seven benefit programs of the SSS, the Unemployment Benefit is one of the landmark provisions of the 2018 SSS Law. It is a cash benefit granted to covered employees, including kasambahay (house helpers) and Overseas Filipino Workers (OFWs) who were involuntarily separated from employment due to economic downturn, calamity/ disaster, installation of labor-saving devices; redundancy; retrenchment or downsizing; closure or cessation of operation; and disease or illness of the employee whose continued employment is prohibited by law or is prejudicial to his or her co-employees’ health.

“As more companies are retrenching and shutting down due to the pandemic, the number of affected employees is also increasing.

Hence, to facilitate their applications for the said program, involuntarily separated workers should register online at the SSS website at www. sss.gov.ph to create their own My.SSS accounts for the mandatory online filing of their unemployment benefits. Almost all our processes are now online, allowing for

an easier, faster, and simpler way to transact with us,” Ignacio added.

To qualify, members must not be more than 60 years old at the time of involuntary separation—except for underground and surface mineworkers, and racehorse jockeys whose age should not be more than 50 and 55 years old, respectively. They must have also paid at least 36 monthly contributions, 12 months of which should have been paid within an 18-month period before the involuntary separation.

To apply, members should log on to their My.SSS account and enroll the preferred disbursement account through the Disbursement Account Enrollment Module (DAEM) under the E-Services tab.

SSS will send a notification via email while members must reply to it by attaching the scanned copies of the certification issued by the Department of Labor and Employment (DOLE), or the Philippine Overseas Labor Office (POLO) or Philippine Overseas Employment Administration (POEA) in the case of OFWs, and the Notice of Termination from the Employer or Affidavit of Termination from Employment, whichever is applicable.

They will then receive another email confirming their successful application.

Coca-Cola, Plastic Bank partnership on track while uplifting lives in Cavite community

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OCA-COLA Philippines and Plastic Bank® continue to mobilize the collection of ocean-bound plastic while improving the livelihood of local communities in the Philippines. Since their partnership was established in September 2020, the partnership is 68% on track towards achieving their target collection of 100,000 kg of used recyclable plastic.

“Our thrust is for more communities to look at recyclable plastic packaging as high value material that can be recycled and used multiple times so it doesn’t end up in the environment. We are pleased with the progress the project has made in improving infrastructure for collection and recycling and providing partner collectors with additional livelihood while they take part in helping the environment,” says Tony del Rosario, President of Coca-Cola Philippines and VP for East Franchise Operations of Coca-Cola ASEAN & South Pacific.

Despite mobility issues caused by the surge in COVID-19 cases in the first quarter of 2021, Coca-Cola Philippines and Plastic Bank managed to adapt and collected 68,797 kg of plastic (or 3.4 million bottles), engaged and empowered 88 collectors, and positively impacted five communities and 316 household members.

“This pandemic has not only helped us grow to adopt more digital processes but also helped us reassess what was essential

in achieving our mission. It was through this learning and adaptation within the past two quarter that we were able to stabilize our plastic collection, better plan out our development programs and look to consistently deliver our intended impact in the second half of our partnership with Coca-Cola,” said Paolo delos Reyes, Plastic Bank Philippines Customer and Partnerships Manager.

With the goal of organizing citywide collections, Plastic Bank continues to closely partner with the local government of General Trias, Cavite to activate collection points alongside communities, local junk shops, and individual collectors. Community members are encouraged to adopt Plastic Bank’s collection system that includes the use of the Plastic Bank App that ensures the traceability of the plastic collected. This helps to drive a more efficient collection process.

One of the program’s partner collectors, Ronilo Cirujano is a 56-year-old family man who has been collecting recyclables from homes for 10 years. He has been using his own tricycle to easily move from one home to another in their community.

“Being a Plastic Bank collector helps me provide basic necessities for my wife and three children, especially during a pandemic when livelihood opportunities are harder to find. Through my income from collecting recyclables in General

Trias, two of my children were able to finish their studies in college,” Ronilo said.

Coca-Cola remains committed to reaching its global vision of a World Without Waste. The company aims to help collect and recycle the equivalent of all the bottles and cans it sells by 2030 and partnership programs are critical to achieving this vision.

The company, with the help of the CocaCola Foundation Philippines, is currently supporting nearly 40 communities in 22 provinces across the country.

Coca-Cola Philippines likewise continues to invest in the development of innovative and sustainable packaging solutions and is forging ahead with the launch of PETValue facility in General Trias Cavite - a joint partnership between its local bottler, Coca-Cola Beverages Philippines, and Thailand-based Indorama Ventures, a recognized global leader in packaging solutions and green technology. Granted "pioneer status" by Board of Investments (BOI), this bottle-to-bottle recycling facility aims to produce around 16,000 metric tons of recycled PET resin every year. PETValue is expected to be operational by the first quarter of 2022.

To learn more about the World Without Waste vision of Coca-Cola, read the recently released 2020 World Without Waste Report. To learn more about the project, visit PlasticBank.com

WITH the help of Plastic Bank incentives, Ronilo Cirujano, a collector, can provide food and assistance for his family despite the pandemic.

MERALCO IMPROVES SUBSTATION IN CABUYAO, LAGUNA. Meralco recently commissioned a new 83 MVA transformer bank no. 2 in its Light Industry and Science Park (LISP) 115 kV – 34.5 kV Substation located along South Street, Cabuyao, Laguna. This additional transformer bank will provide the additional capacity needed to serve the new load requirements of locators inside the LISP, as well as the increasing power demand in the City of Cabuyao in Laguna. This project is also expected to reduce system losses, improve system reliability and voltage regulation, and provide adequate supply of electricity to the Meralco customers in the area. Despite the continued implementation of community quarantine measures throughout the country due to the COVID-19 pandemic, Meralco personnel and its subsidiaries are continuously working round the clock to execute major capital projects to “Keep the Lights On”, “Save Lives” and “Keep the Hopes Alive” for its customers.

Filipino violinist shares his love for music through education and by mentoring high school students

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ARCO Polo C. Ignacio is a composer, arranger, violinist, and music teacher. He is currently connected with Fortuno F. Halili National Agricultural School (FFHNAS), teaching under the Special Program for the Arts Department (Music). As an educator, he is always into consideration that his arranged pieces would be easy for the guitar and bass section and that the melody of the song would not be hard for Grades 4 to 6 students.

“But basically, Filipinos are musicallyinclined and young children are eager learners. I believe they just all need the support of their parents, like what my parents did, should they pursue their love for music in the future,” he said.

In late 2018 and early 2019, Ignacio arranged several popular music for rondalla namely: “Titibo-Tibo,” “Kiss Me, Kiss Me”, “Mundo,” and “Buwan.” The rondalla's video performance of Mundo went viral and was featured at GMA-7’s news program. It was also shared in various news pages on Facebook and blogs, making the school rondalla of FFHNAS well-known. The following school year, they played “Star Wars Medley”, “Game of Thrones Medley” and the pop song “Ikaw at Ako”, paving the way for their TV guesting at UNTV's morning show and a talent show of TV5.

The newly uploaded S.P.A. Music Rondalla, playing Ikaw at Ako by Moira Dela Torre and Jason Marvin, featured in the movie “Hello Love, Goodbye,” is currently gaining a lot of viewers on YouTube. (Watch via https://www. youtube.com/watch?v=dug-8dhXTuc). Ignacio arranged and directed this while also playing the violin for the group.

A native of Sta. Maria, Bulacan, Ignacio first learned the piano at age 5 and took the violin as his main instrument at age 7. He continued his love for music by taking up Bachelor in Music, Major in Composition from the University of Santo Tomas Conservatory of Music. In 2006, he was tasked to be the district rondalla instructor of his hometown even before his graduation recital in October 2007. Since then, there is no stopping him from teaching young hands with the rondalla instrument.

Taking the necessary education units, eventually, he took and passed the Licensure Exams for Professional Teachers (Secondary) on March 11, 2021.

To expand his reach, Ignacio signed up for Handpicked Management headed by Eli Luna.

Currently, his composition, “When God Made a Way,” is available on Spotify. His website is set to be launched on June 25, 2021, via Handpicked #HilahanPataas Facebook page.

Sports

VIETNAM ASKS FOR MORE TIME

BusinessMirror

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| Friday, June 25, 2021 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

SPOTLIGHT ON SASO

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OHNS CREEK, Georgia—Yuka Saso has come a long way in a short time. One week after winning the US Women’s Open, she turned 20.

Now it’s time for another major test in the KPMG Women’s PGA Championship, and there is still so much to learn.

For starters, winning the Women’s Open gave her a fiveyear membership on the Ladies Professional Golf Association (LPGA) Tour, a great surprise to her.

And then there’s this matter of a pro-am. Saso had never played in one.

It was only one year ago this week the Filipino made her debut as a Japan LPGA Tour member.

Saso tied for fifth, won her next two events and is No. 4 on the money list. Because of Covid-19 restrictions, however, there were no fans and no pro-ams in Japan.

She played her first one at Atlanta Athletic Club, and Saso said later she could only hope she had the score right. The format was a scramble.

For now, the expectations of the newest star in women’s golf haven’t changed.

“I don’t really expect anything,” Saso said. “I’m just more focusing on what I have to do with my game. I’m trying to improve every day to be a better golfer, to be a better person. I’ll just do my best, and let’s see the result.”

Her game figures to be tested plenty at Atlanta Athletic Club in the third LPGA major of the year. The Highlands course is where David Toms laid up on the closing hole and made par to beat Phil Mickelson in the PGA Championship in 2001, and Keegan Bradley overcame

a three-shot deficit down the stretch and beat Jason Dufner in a playoff 10 years later.

It’s keeping with a Women’s PGA that has taken a big step in stature by raising the prize money ($4.5 million) and going to historic golf courses, such as Hazeltine and Olympia Fields.

Still to come is Congressional next year and Baltusrol the year after that.

South Korea has the top three players in the women’s world ranking, though parity is getting stronger on the LPGA as evidenced by the list of winners. Thirteen players won the first 13 events on the schedule this year until Nelly Korda last week became the first multiple winner.

Saso added to that three weeks ago at Olympic Club in San Francisco, seizing on a late collapse by Lexi Thompson and beating Nasa Hataoka of Japan in a playoff.

Just like that, Saso is the No. 9 player in the world, leads the LPGA Tour money list with her $1 million prize from the Women’s Open and is headed to the Olympics.

She still hasn’t watched highlights of her victory. Saso doesn’t like watching video of herself.

“I’d rather watch Rory’s,” she said with a laugh.

That would be Rory McIlroy, her golfing idol after whom she tried to pattern her swing. Saso was a surprise visitor to Torrey Pines last week at the US Open, where the US Golf Association arranged for her to walk a few holes with McIlroy during a practice round.

Sophia Popov, another surprise major champion at Royal Troon last year in the Women’s British Open, recalls seeing Saso on

BIANCA’S MISSION B

Froome: From 4-time champion to ‘domestique’

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S the finest Grand Tour rider of his generation, Chris Froome is used to honors, awards and accolades.

One thing he is not used to at the Tour de France—the race he dominated over the past decade and made him famous—is carrying water bottles for others.

In cycling jargon, it’s called being a “domestique,” and the sight of a former four-time champion in that role will be something quite unusual at cycling’s biggest event.

But a bit more than two years after a horrific, careerthreatening crash that left him on the side of a road with multiple serious injuries, Froome is ready to play the sideman part. With the mindset of a rookie.

“I’m really excited for this year’s upcoming start,” the 36-year-old Froome said ahead of Saturday’s opening stage in the western port city of Brest.

“Brest was where I first discovered the Tour de France back in 2008 as a neo pro. I’m heading to the Tour de France this year with a very similar mindset as back in 2008. I’m looking to gain something through

IANCA PAGDANGANAN is paired with Americans Jennifer Kupcho and Brittany Lincicome in the KPMG Women’s PGA Championship that starts on Friday at the Atlanta Athletic Club in Georgia, Atlanta.

But the 22-year-old Pagdanganan has a tough task ahead of her—she must make the cut in order for her to stay inside the world’s top 60 and putt her way to the Tokyo Olympics.

Pagdanganan is currently ranked No. 42 in the Olympic Golf Ranking.

Yusa Saso is safely perched at No. 9 and is guaranteed of a berth in Tokyo.

The long-hitting Pagdanganan practised at the venue of the $4.3-million tournament, now regarded as one of the important on Ladies Professional Golf Association Tour.

Dottie Ardina is playing in Atlanta.

She is paired with Alisa Rodriguez and Jeongeun Lee.

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THE expectations of the newest star in women’s golf, Yuka Saso, haven’t changed. AP

Suites lead the honorees during the program that ushers in the WNBL as a professional league.

The date of the opening ceremony, league officials said, will be announced as soon as the Inter-Agency Task Force for Emerging Infectious Disease and the Games and Amusements

Board allow the WNBL to proceed.

Also to be cited are Vivian Manila, Yeng Guiao, Bernie Atienza and the Basketball Efficiency and Scientific Training Center.

The league will also enshrine the first batch of members to the WNBL Legends Circle—players, coaches and stakeholders in women’s basketball in the Philippines.

Ever Bilena is supporting the

IETNAM asked for more time to decide on whether the 31st Southeast Asian Games will go on as scheduled in November or postponed to next year.

Philippine Olympic Committee (POC) President Abraham “Bambol” Tolentino said the Vietnamese organizers sought a 14-day window to make a final decision.

“They [Vietnamese] are hesitant to make a decision,” said Tolentino after the one-hour virtual meeting among members of the SEA Games Federation.

The Hanoi SEA Games are scheduled from November 21 to December 2 and the Vietnamese, citing rising Covid-19 cases, told the SEA Games Federation that they are moving the Games to July 2022.

Eight member countries tried to persuade Vietnam to

racing the Tour de France.”

For the first time since 2013, the year he won his first Tour, Froome won’t be on the starting line with personal ambitions.

He has been tasked with a role of road captain at his new Israel Start-Up Nation team and will work in support of leader Michael Woods.

“Typically, going into the Tour de France I obviously got a lot of pressure on my shoulders, as a [top] contender,” Froome said. “That’s not the case this time around. This time around, I’m only [...] trying to do the best job possible to support the guys around me. For almost the last decade I had been going to the Tour de France with a team that was doing a similar job for me.

It feels great to be on the other side now, and give back a little bit.”

So much has changed for Froome since that training crash during the 2019 Critérium du Dauphiné, an event he had been using to fine-tune his bid for a record-equaling fifth Tour title.

The accident not only left him with a fractured right femur, a fractured elbow and fractured ribs, it also cost him his spot in the Team Ineos’ Tour de France squad the year after. AP

national women’s team program that peaked in 2019 when the country won its first-ever Southeast Asian Games gold medal and the squad’s inclusion in Division A of the Fiba Asia Women’s Cup. Discovery Suites is also a traditional sponsor of the women’s national team including in 2010 when the Perlas Pilipinas won also a first-ever Southeast Asian Basketball Association crown.

TOLENTINO

host the games as scheduled with Myanmar siding with the host because of its political crisis and Laos abstaining.

Tolentino said the POC will abide by whatever decision Vietnam will make.

“We will respect the decision of Vietnam because we cannot do anything if they say the games are postponed,” he said.

Vietnam is ready to host the games after completing all infrastructure ahead of time, but its reluctance is borne out of its Covid-19 cases. There were 207 new cases in Vietnam, way below that of the Philippines’s 4,338 last Wednesday.

Organizers of the Tokyo Olympics, in contrast, are going on with the games starting July 23.

More than 10,000 athletes and thousands more coaches, officials and members of media are converging in Tokyo for the 17-day Olympics.

The Philippines intends to send more than 600 athletes who will be competing in 39 of the 40 sports in the Vietnam SEA Games.

Athletes and coaches bound for the Tokyo Olympics and the SEA Games, meanwhile, will get their second dose of the Sinovac vaccine on Friday at the Manila Prince Hotel along San Marcelino Street in Manila.

Pacquiao’s legacy bigger than Floyd—Gibbons

Sei Young Kim is the defending champion and recent history is not in her favor to repeat. The last 19 majors on the LPGA Tour were won by 18 players.

It’s another sign of increasing depth, and with Saso, the LPGA Tour only added to the pool. AP

ONE thing Chris Froome is not used to at the Tour de France—the race he dominated over the past decade and made him famous—is carrying water bottles for others.

Women’s hoops honorees up HE Women’s National Basketball League (WNBL) will recognize personalities and organizations that supported women’s basketball in the Philippines during the opening ceremony of the 2021 season.

Ever Bilena and Discovery

television earlier this year in Hawaii. The swing got her attention (“As pure as it gets,” she said) along with the result (tie for sixth) and her charm.

“Those are the personalities and the players that we can only hope to have on tour, and so seeing her when they told her that she was going to have LPGA status I think was the coolest thing,” Popov said. “I’m like, ‘How surprised can you be? You just won the US Open. You’re clearly one of the best players out here.’ I just think it’s awesome.”

Popov knows the feeling of going from no status on the LPGA Tour to major champion. Because of the pandemic, she had to wait a few months for her next crack at a major in the Women’s PGA last year at Aronimink.

Her expectations changed immediately, mainly because she knew she was playing well and she loves the challenge of a major championship.

“It was all about hitting the right spots, putting yourself in the right positions and being able to score, but as well just protecting from higher numbers,” Popov said. “That’s a situation that I like to be in.”

That’s what Atlanta Athletic Club will present.

The course measures 6,740 yards, and PGA setup guru Kerry Haigh has options to make the par 5s reachable or three-shot holes, along with a new tee on the par-4 sixth hole that can play about 250 yards.

“I can’t wait to see what the best players in the world...how they’re going to play because you’ve really got to think on those on every hole,” Haigh said.

V

By Josef Ramos

E

IGHTH-DIVISION world champion Manny Pacquiao will be fighting undefeated unified welterweight king Errol Spence Jr. on August 21 aiming to cement a legacy bigger than his retired arch nemesis Floyd Mayweather Jr. “Senator Manny is motivated more than ever, it’s the biggest fight of his life,” International matchmaker Sean Gibbons told BusinessMirror on Thursday.

“This is bigger than any of the fights he had because of what’s at stake, what he’s trying to accomplish, making history at his age, and the legacy will be bigger than Floyd Mayweather.”

The Pacquiao-Spence fight is a Fox Sports Pay-Per-View headliner set at the 20,000-seat T-Mobile Arena in Las Vegas, Nevada.

Gibbons said Pacquiao is bound to join the sport’s greatest, among them Muhammad Ali and Sugar Ray Robinson to name a few.

And although Pacquiao, 42, lost to Mayweather in a blockbuster duel six years ago, Gibbons said the Filipino boxing icon’s accomplishment would shine brighter.

“Mayweather couldn’t do this at almost 43 [years old]. Senator Pacquiao’s legacy with a win over Spence blows away Mayweather’s little legacy,” Gibbons said. He beat the senator with his shitty style, it gave the senator problems, and he got the decision.”

“But Mayweather always ruins boxing. He let the fans run away from the sport because he doesn’t want to fight,” he added.

Gibbons warned the International Boxing Federation and World Boxing Council welterweight champion Spence (27-0

win-loss record with 21 knockouts) that he could be “headed to a car wreck” against the experienced Pacquiao (62-7-2 win-lossdraw record with 39 knockouts).

“Errol is in the best shape of his life because he’ll be heading to another ‘car wreck.’ He has never experienced the hand speed, foot speed, the power and the boxing [of Pacquiao],” Gibbons said.

“With the senator really motivated, he is a very dangerous guy.”

Select tickets will be on sale on Thursday ahead of their availability to the general public on Friday.

The Pacquiao-Spence confrontation, Gibbons said, will definitely surpass his previous fights in terms of ticket sales.

Gate receipts in the PacquiaoKeith Thurman fight Pacquiao won in July 20, 2019, at the MGM Grand in Las Vegas were pegged at $6,260,275 from 11,436 tickets sold.

Pacquiao’s 12-round unanimous decision win over former four-division champion Adrien Broner in the same venue in January 2019 generated $6,000,032 from 11,410 tickets sold.

Spence also drew a huge crowd in his pandemic fight last December 5 against Danny Garcia at the AT&T Stadium in Arlington, Texas. Sales produced $2,615,075 from 14,508 tickets despite social distancing restrictions.

That was Spence’s first fight since he recovered from a fatal car accident in Dallas last October 10, 2019.

The Pacquiao-Mayweather clash stood as the best-selling event in boxing history with $72,198,500 in ticket sales.

Josef Ramos

Motoring BusinessMirror

Henry Ford Awards Best Motoring Section 2007, 2008, 2009, 2010 2011 Hall of Fame

Editor: Tet Andolong

B8 Friday, June 25, 2021

Chery introduces newest

brand ambassador C U Story by Randy S. Peregrino

HERY Auto Philippines finally reveals the face of its mostawaited brand ambassador for 2021. After a series of social media teasers, the country’s official Chery vehicle distributor welcomed the generations’ most influential multimedia icon, Alex GonzagaMorada.

During the live video premiere via Chery Auto Philippines’s Facebook and YouTube channels, Alex Gonzaga skillfully drove the Tiggo 7 Pro in both scenic nature and urban setup. In one of the scenes, Gonzaga was scene appreciating the crossover’s plethora of never-before-seen tech and functions for having a connection to her daily posh lifestyle.

“Honestly, I used to think that driving wasn’t meant for me until I was introduced to Chery Auto PH. I was acquainted with the Chery Tiggo lineup, and these vehicles left me amazed with the comfort, tech features, and colors! I love the style and, most of all, its value-for-money,” said Gonzaga.

Popularly known as Alex G. she currently belongs to the country’s top 10 most influential YouTubers. She has garnered over 10.7 million subscribers.

She is also one of the most-followed Instagram icons with over 11 million counts on her base.

“Having Alex G. as the newest

member of the Chery family is very timely. Earlier this year, we shifted our campaign focusing on how “Fun To Drive” a Chery is. The overall messaging is bright, colorful, vibrant, and sensational, and frankly, I can’t think of any other influencer that fits this car personality other than Alex G.,” said Chery Auto Philippines president Rommel Sytin.

The 33-year-old actress, vlogger, and entrepreneur remarked that Chery is her first automotive brand endorsement. “I’m also an owner of a Tiggo 7 PRO, and during my first time driving it, admittedly, it made me feel like I’ve been a Pro driver for years,” Gonzaga proudly said.

Moreover, she shared an extra-long list when asked about her top picks on her crossover. “After a long day at work, the luxurious leather seats comfort me. The dual-zone function of its air conditioning is also perfect for the driver and for the passengers—it’s cool and just right for my hot morning call

Petron stations launch exclusive motorcycle lanes

Meet Chery’s newest brand ambassador—Alex Gonzaga-Morada times. I can also put all my wardrobe sets, make-up, and other big equipment in its spacious trunk, and I never had a hard time opening it because of its automatic tailgate lifting function,” she said.

Gonzaga also shared one of her favorite tech features of the Tiggo 7 Pro. “Another favorite is the 360-around view monitor shown on its infotainment system. The surroundings of the car automatically pop out on the screen, and it feels like I have an eye on every corner and inch of my Tiggo 7 Pro,” she said. “ T he ambient lighting, which smoothly jams with the beat of my music, is lit. I’m down for loud drives, and the flashing lights intensify my fun driving mode, especially at night.

It’s like holding a club party on my wheels. Of course, I need to update my netizens now and then, and the wireless mobile charger of my car ensures that my phone battery is always at 100 percent. I love it!” she added.

The actress also perkily shared how the huge panoramic sunroof would best suit her vlog shoots and that the natural lighting makes her

skin glow, helping her further boost her self-esteem and confidence. “It’s a beauty secret unleashed,” she said.

According to Gonzaga, she heads the family business marketing division, aside from her usual showbiz gigs.

“On top of that, I am also a dedicated housewife,” she teased. “That’s why the Tiggo 7 Pro is a big help in fulfilling my daily duties because of the driving comfort it provides. “Chery will surely go a long way, and I’m very excited and grateful to be part of this sweet journey. The stylish crossovers, plus the jam-packed freebies and services?

That’s what my netizens and the rest of the Filipinos need,” she said.

Chery’s new “Fun to Drive” campaign envisions the Tiggo crossover line-up as the go-to rides for the youth, for families, and for every lifestyle that requires dynamic, exciting, and fully functional mobility. “Just like Alex G. we want our customers to feel that driving is no longer a responsibility.

It’s now a fun experience that you can look forward to whatever your daily routine is. It gives you the time to enjoy the roads, to relax, and to bring out the Pro in you,” Sytin added­.

Not just roads but rivers, too

N

OT only is San Miguel Corp. (SMC) set to build another road wonder traversing the Pasig River in the conglomerate’s continuing bid to ease traffic in Metro Manila.

No, the infrastructure will not be built over the biggest river in the metropolis. Instead, both sides of Pasig River will be utilized for the highways that will connect virtually all the SMC expressways built in the big city to finally realize an interconnected urban in the near future.

Complementing the wondrous roads is the dredging of Pasig River, with SMC again coughing out no less than P2 billion for the project and partnering with the Department of Environment and Natural Resources (DENR), other national government agencies, and Metro Manila mayors, in the five-year plan to resuscitate the long-dead waterway.

The project is the largest ever river rehabilitation project in the country after the ongoing SMCsponsored P1-billion cleanup of the 27-km Tullahan-Tinajeros River by the Manila Bay. “There have been many cleanup efforts in the past, and the government has

NDERSTANDING the unique needs of the growing number of two-wheeled motorists, oil industry leader Petron Corp. is designating an exclusive Motorcycle Lane at select Petron service stations.

The exclusive motorcycle lane, which also accommodates tricycles, ensures the safety of customers by segregating smaller vehicles from 4-wheel and other large vehicles while providing convenience through faster transactions. This also avoids “line-cutting”—a common source of misunderstanding and arguments among customers.

Implementation started last April 15 at 135 Petron stations in Metro Manila, Baguio City, Olongapo City, as well as the Northern Luzon provinces of Apayao, Bataan, Benguet, Bulacan, Cagayan, Ilocos Norte, Ilocos Sur, Isabela, Kalinga, La Union, Nueva Ecija, Pampanga, Pangasinan, Tarlac, and Zambales. Select Petron stations in South Luzon, particularly Batangas, Cavite, Laguna, and Quezon provinces have also implemented the program.

The exclusive motorcycle lane program will continue to roll out to other Petron stations in Luzon and VisMin in the coming months, to offer the millions of Filipino motorcycle riders safer, faster, and more convenient service.

As the country’s largest oil company and lone refiner, Petron has a deep understanding of driving conditions on Philippine roads, offering products and services that will deliver optimum benefits to Filipino motorists. For 2-wheel vehicles, Petron SPRINT 4T motorcycle oils are specially formulated with a Thermal Control System (TCS) additive to

succeeded in some of them,” SMC president Ramon S. Ang said. “But decades of pollution and compounding problems that have rendered the Pasig River biologically dead since the 1990s are too complex to overcome overnight.”

There will always be the usual detractors, but RSA, as always, is undaunted.

“Solid waste in our rivers is a serious issue, not only because it endangers our oceans, marine life, and traditional fishing grounds, but also because they worsen flooding in the city,” he said.

RSA cited a study published

by OurWorldinData.org last May from the University of Oxford and UK-based Global Change Data Lab that Pasig River has become the top plastics polluter of oceans in the world.

“Silt and accumulated garbage have made the Pasig River shallow, worsening the flooding situation in Manila, Mandaluyong, Makati and Pasig,” Ang said. “Our goal is to remove wastes and increase Pasig River’s carrying capacity to divert floodwaters to Manila Bay.” The company is targeting to remove some 50,000 metric tons of waste from the Pasig River per month, or 600,000 metric tons of waste per year, using advanced and specialized equipment under its command.

“We are confident that with the political will of President Rodrigo Duterte and the support of government agencies and other stakeholders, we will be able to bring Pasig River back

to life,” RSA said.

He said Pasig River is linked historically to SMC. In 1890, La Fabrica de Cerveza de San Miguel was established along the banks of Pasig River, on Malacañang Street in the San Miguel district of Manila. The original site is now part of Malacañang Palace grounds.

Nice to know.

Toyota Marikina donation

FROM cars to rubber boats.

That’s what Toyota Motor Philippines (TMP), through Toyota Marikina, donated last week to the Marikina City government.

On hand to receive the rubber boats and communications equipment for the city’s exclusive use during typhoon response operations are Marikina mayor Marcelino Teodoro, city administrator Janet Obispo and Rescue 167 head Dave David. Toyota Marikina’s chief Ma. Teresa Cabellon supervised the proceedings.

“We are proud to be your partner in moving Marikina’s people in times of need,” said TMP president Atsuhiro Okamoto.

Previously, TMP donated 30 Vios cars to public hospitals in Metro Manila and Laguna for Covid-19 related programs.

Applause.

Most dependable Lexus

HERE’S a glass once more to Lexus models ES and GX for being voted the “Most Dependable Cars” in a recent US survey by J.D. Power.

Now on its 32nd year, the

deliver a cooler, smoother ride while ensuring sustained power and protecting the engine. Petron SPRINT 4T has been subjected to international laboratory testing and passed world-class benchmarks. Additionally, it was performance-tested for over 10,000 -kilometers during a four-month period by local riders to validate its superior qualities.

Similarly, Petron fuels deliver better engine protection, better fuel efficiency, and better power. Motorcycle riders can choose from Petron BLAZE 100, a 100-octane high-performance gasoline that meets European quality standards; Petron XCS premium gasoline with complete combustion system; and Petron XTR A ADVANCE for proven fuel efficiency.

As the industry leader, Petron appreciates the staunch support of Filipino motorists. In particular, it recognizes the fast-growing motorcycle community and is continuously developing products and services that are responsive to their needs.

study measures the number of problems original owners experienced from their threeyear-old vehicles during the past year. It covers 177 specific vehicular problems grouped into eight categories: audio/communication/ entertainment/navigation (ACEN), engine/transmission, exterior, interior, features/ controls/displays (FCD), driving experience, heating, ventilation and air conditioning, and seats. The lower the score, the higher the vehicle is dependable.

Lexus scored 81 compared to the average of 121.

Specifically, the Lexus ES won in the best Compact Premium Car category while the Lexus GX won in the Midsize Premium SUV bracket. This is the ninth time in 10 years that Lexus has ranked the highest among all car brands entered in the survey.

Jade B. Sison says to learn more, visit lexus.com. ph, Facebook and Instagram @ lexusmanila.

PEE STOP Congratulations to “Stay Connected with Honda” grand raffle winner Richie San Jose, who drove home a Honda Brio 1.2 S MT from Honda Cars Bulacan. Honda officials Verna Hiyao, Rex Decena and Redentor Kalalang supervised the awarding ceremonies. Colene Jalalon says 39 others won prizes: 25 Petron Gas worth P8k each, iPhone, Nintendo switch, iPad Air, 5 Blaupunkt Air Purifiers, 3 Rustan’s GCs worth P5k each and 3 Sodexo GCs worth P2,500 each. Cheers!