BusinessMirror March 31, 2021

Rotary Club Of Manila Journalism Awards

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

BusinessMirror

ejap journalism awards

business news source of the year (2017, 2018) DEPARTMENT OF SCIENCE AND TECHNOLOGY

2018 BANTOG MEDIA AWARDS PHILIPPINE STATISTICS AUTHORITY

DATA CHAMPION

A broader look at today’s business

MOBILITY CURBS YIELD HIGHER JOBLESS DATA www.businessmirror.com.ph

n

Wednesday, March 31, 2021 Vol. 16 No. 171

P25.00 nationwide | 2 sections 20 pages | 7 days a week

PHL returns to Samurai bond market, raises $.5B

By Bernadette D. Nicolas @BNicolasBM

& Bianca Cuaresma

T

HE Philippine government raised ¥55 billion (US$500 million or about P24.2 billion) in its sale of 3-year zero-coupon Samurai bonds, marking its successful return to the said market after more than a year of hiatus.

This was also the first-ever zero-coupon bond transaction issued in the Samurai bond market, the Bureau of the Treasury said. This transaction also came more than a year after the Philippine government successfully issued zero-coupon euro-denominated bonds in February 2020.

The new 3-year Samurai tranche was priced 21 basis points above the benchmark, the tightest spread the Philippine government has achieved so far since its return to the market back in 2018.

Initial target size for the 3-year Samurai bonds was around ¥30 billion, but this was later on upsized to ¥55 billion on the back of strong investor demand, paving the way for the deal to capture a new investor base for the Philippines.

In a statement on Tuesday, National Treasurer Rosalia V. de Leon said “the landmark transaction highlights the government’s capability to respond to the challenging times with creative solutions to free up fiscal space to augment the national government’s Covid-19 response.”

Not an “Easy Queue,“ this one. As the enhanced community quarantine (ECQ) was enforced for the second day on Tuesday, motorists experienced heavy traffic and long lines in checkpoints set up in strategic areas in the National Capital Region and four adjacent provinces. Scene here is Marcos Highway in northeastern Metro Manila. NONOY LACZA

By Cai U. Ordinario

Q

@caiordinario

UARANTINE restrictions continue to limit income opportunities for Filipino workers as reflected by the latest data on unemployment released by the Philippine Statistics Authority (PSA) on Tuesday, according to the country’s economic managers.

The PSA released the results of its first monthly Labor Force Survey indicating that unemployment rate in February rose to 8.8 percent from 8.7 percent in January. The increase was more pronounced in underemployment: 18.2 percent in February, from 16 percent in January.

Data showed 7.9 million Filipinos were underemployed in Febr uar y 2021, or 1.3 mil lion Fi l ipi nos more t h a n t he 6.6 mil lion in Januar y 2021.

L

@sam_medenilla

OCAL government units may choose to distribute the aid either through cash or in-kind for those in the National Capital

PESO exchange rates

Region (NCR) and its surrounding areas that are under enhanced community quarantine, Malacañang said.

Presidential spokesman Harry Roque said on Tuesday this is allowed because the order signed by the President is “silent” on what

Investor confidence— Dominguez

particular form the aid should be distributed.

Roque said this move will pave the way for local government units to determine the quickest way to distribute the P23-billion aid to 22.9 million low-income individuals in

Finance Secretary Carlos G. Dominguez III said the country’s successful return to the Japanese bond market “at this precarious time underlines continued investor confidence in our economy brought about by its strong fiscal position and prudent management that augurs well for a robust and sustainable recovery from the economic turmoil brought by the Covid-19 pandemic.”

“This bond offering brings to light the government’s relentless drive to generate sufficient resources to fund its Covid-19 response and other priority programs that are meant to return the country soon enough to the path of high and inclusive growth,” he added.

Bond ratings assigned to the Philippines’s Samurai bond offering were Baa2 from Moodys, BBB+ from S&P and A- from Japanese Credit Rating Agency.

SMBC Nikko Securities Inc. acted as sole Lead Manager and Book Runner for the deal.

The settlement date for the Samurai bonds is on April 13 this year while its maturity date is on April 12, 2024.

The last time that the Philippine government returned to the Samurai bond market was in August 2019, when it raised ¥92 billion or about P44.3 billion from its sale of the debt papers across four tenors.

See “Ayuda,” A2

See “PHL,” A2

See “Mobility,” A2

LGU ‘ayuda’ may be in cash or in-kind

By Samuel P. Medenilla

@BcuaresmaBM

n US 48.4750 n japan 0.4415 n UK 66.7258 n HK 6.2360 n CHINA 7.3793 n singapore 35.9767 n australia 36.9961 n EU 57.0502 n SAUDI arabia 12.9263

Source: BSP (30 March 2021)

A2

BusinessMirror

Wednesday, March 31, 2021

OSG to SC: Parlade’s FB post not govt stand Continued from A12

The petitioners also asked the Court to direct the OSG to give Parlade’s basis for issuing such statements including details on the source, circumstances behind and intent.

Parlade is the current Commander of the Southern Luzon Command of the Armed Forces of the Philippines and member of the National Task Force to End Local Communist Armed Conflict (NTF-Elcac).

Parlade made the post a few days prior to the January 19 oral argument on the petitions questioning the legality of the Anti-Terror Law. “The SC will soon be hearing petitions against the Anti-Terror Law. Let’s be watchful of these individuals, groups, and organizations opposing a law that will protect our citizens from terrorists.

What’s their agenda?” Parlade’s post read.

He did not say who he was referring to in the post.

“According to the AFP and the NTF-Elcac, the subject Facebook post is not the official statement or action of the AFP nor of the NTFElcac,” Calida said in his comment.

“Accordingly, the AFP and the NTF-Elcac have no policy against any dissenters of any law enacted and being implemented by the government. Both agencies, in fact, remain committed to upholding the rule of law, protecting the constitutional rights of every Filipino, and serving the best interest of the country,” he added.

Calida noted that the Facebook post did not bear the logo of the said agencies.

“The AFP and NTF-Elcac, clearly, have no personal knowledge on the circumstances and intent behind its alleged posting,” he said.

Calida added the Facebook post does not intend to interfere with the SC’s power to administer justice nor violate the rights of petitioners, of Carpio, Morales and other petitioners, under Section 4 of the Bill of Rights.

“There can be no violation of the Bill of Rights when committed by a private individual,” Calida asserted.

Extension sought

Meanwhile, the OSG has also asked the SC for a 30-day extension, or until April 23, to file its Comment on the renewed motions for TRO against the implementation of the ATA of 2020 on the ground of supervening events.

The OSG said it could not submit on time the Comment/Opposition because it was still coordinating with the respondents, some of whom needed more time to fully address the OSG’s inquiries and allegations raised by the petitioners.

“Consequently, the OSG is constrained to request for an additional time within which to file the required Comment/Opposition,” Calida explained.

“The OSG assures that the instant motion is not intended to delay but is prompted by the aforementioned circumstances and by a sincere desire to submit a responsive and comprehensive Comment/Opposition that will aid this Honorable Court in resolving the present matter,” he added.

In pressing the Court to issue a TRO against the ATA of 2020, the petitioners raised several supervening events such as Parlade’s FB post and the arrest of Chad Errol Booc, a volunteer teacher; and Windel Bolinget, chairman of the Cordillera People’s Alliance.

Booc and Bolinget are among the petitioners seeking to strike down ATA. The petitioners also cited the freezing of assets of the Rural Missionaries of the Philippines (RMP), another petitioner.

The RMP faces civil forfeiture proceedings before the Anti-Money Laundering Council (AMLC) based on the claim that the religious group and its chapters have been providing financial and material support to the Communist Party of the Philippines-New People’s Army (CPPNPA), which has been declared as a designated terrorist organization by the Anti-Terrorism Council (ATC).

www.businessmirror.com.ph

Biz groups: Longer ECQ without other measures more harmful

By Tyrone Jasper C. Piad @Tyronepiad

T

HE Management Association of the Philippines (MAP) is urging the government not to extend the enhanced community quarantine (ECQ) period as this will do more damage to the businesses, regardless of size.

“We obviously hope there will be no further extensions of ECQ as, after a year of lockdowns, even large businesses are hurting and many smaller ones are on the verge of closing or have closed,” the business group said in a statement on Tuesday.

T he government put “NCR Plus”—Metro Manila, Cav ite, Rizal, Laguna and Bulacan—under ECQ again from March 29 to April 4 amid the surging cases of Covid-19 in the country.

While the ECQ extension is still under review, the Department of

Health recommended on Tuesday that the lockdown measure remain for another week. On the same day, new Covid-19 cases reached 9,296, bringing the total number to 741,181.

The business group said it understands that implementing a stricter lockdown protocol is necessary, to curb the rising Covid-19 infection rate but stressed that more is needed still to be done to make sure the economy is not at the losing end. “[We] hope the government also takes appropriate measures to avoid further collapse of the

economy, suc h a s prov id i ng s up p or t for businesses to help them mitigate the impact of the pandemic,” M AP stressed.

“The current lockdown and any further extensions should be used to quickly augment our healthcare capacity and infrastructure, including massive testing in areas with high case counts,” it added.

Citing Philippine Chamber of Commerce and Industry (PCCI) President Bened icto Yuju ico, PCCI Chair Alegria Sibal Limjoco told the BusinessMirror that implementing a lockdown will not resolve the rising cases.

With this, the PCCI said that the country should fast-track the vaccination program instead.

“The pronouncement of the President on private sector procurement of vaccines is welcome and we hope the legal issues surrounding this can be addressed immediately,” MAP said.

M a l a c a ñ a n g r e c e nt l y e x plained that the private sector is allowed to procure its own supply of Covid-19 vaccines via a tripartite agreement.

Earlier this month, LegislativeExecutive Development Advisory Council Private Sector Represen-

tative George T. Barcelon told this newspaper that the recent move by the government to tighten lockdown measures anew was a “knee-jerk reaction,” showing its lack of preparation in handling the increasing Covid-19 cases.

Barcelon said he also understands the rationale behind the stricter lockdown measures, but stressed that it appears the government has no other plans to mitigate the rising cases except through mobility restriction. Similar criticism was lodged against the Philippine government response by World Bank officials last week.

While mass vaccination has not yet started, Barcelon earlier said that the government should focus on strengthening the immune system of the public. It can be as simple as providing vitamins to the Filipinos to improve the Filipinos’ health, he explained.

“I hope that the government will listen more to the private sector on how to mitigate [the rising Covid-19],” Barcelon added, explaining they have ground visibility and can bring up issues from the private sector, especially the micro, small and medium enterprises.

D.O.H., NEDA ASSESS 1-WK MORE OF ECQ IN NCR PLUS

By Claudeth Mocon-Ciriaco

Correspondent

T

HE Department of Health (DOH) is currently in discussion with the National Economic and Development Authority (Neda) on a proposal to extend by one week the enhanced community quarantine (ECQ).

“One of the things that we need to do right now is undertaking with the National Economic and Development Authority...[a] cost-benefit analysis on this [possible] extension of ECQ. How it can impact in the economy, and most importantly, its impact on the health of the people,” Health Undersecretary

Maria Rosario Vergeire said in a television interview on Tuesday.

She said that the DOH has recommended the extension of the ECQ to the Inter-Agency Task Force (IATF) but nothing is final yet.

“There will be an assessment of the progress before ECQ ends,” she said.

To date, she stressed, there is still no data to support the extension of the ECQ. “But ideally, the ECQ should be at least two weeks, so that we can see the decline in the number of cases after two weeks, so that we can see the effects on our health-care utilization like our hospitals,” she added.

Vergeire explained that the effects of

Ayuda. . .

Mobility. . .

the “NCR Plus” which includes Metro Manila and the provinces of Laguna, Cavite, Rizal and Bulacan.

“We leave it to the local government units, [whatever is the fastest means to get this aid to our countrymen],” Roque told reporters, partly in Filipino, during the virtual Palace briefing.

President Duter te approved the recommendation of Budget S ecretar y Wendel Avisado late Monday that P1,000 will be given per individual, and not more than P4,000 per family.

Avisado also said the money for the P23billion aid is sourced from the unutilized fund under the Bayanihan to Recover as One Act (Bayanihan 2).

Of the said areas, NCR has the highest aid allocation with P11.2 billion.

The other areas will get the following fund allocation: Cavite (P3.4 billion); Bulacan (P3 billion); Laguna (P2.7 billion); and Rizal (P2.6 billion).

Avisado also told the B usiness M irror that he already signed on Tuesday the corresponding Special Allotment Release Order, as well as the Notice of Cash Allocation, which authorizes the release of financial aid to LGUs concerned.

The government has since declared that NCR Plus be under ECQ until April 4, Sunday.

However, Malacañang said the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) will be meeting on Saturday to review the community quarantine classifications.

With Bernadette D. Nicolas

“This [underemployment rate] indicates that income is limited due to quarantine restrictions,” said the joint statement released

by Acting Socioeconomic Planning Secretary Karl Kendrick T. Chua, Finance Secretary Carlos G. Dominguez III and Budget Secretary Wendel Avisado on Tuesday.

Underemployed persons, according to the PSA, are employed Filipinos who wish to have additional work hours in their present job or an additional job or have a new job with longer working hours.

PSA said visibly underemployed persons are those who work for less than 40 hours during the reference period and want additional hours of work.

Data also showed a decrease in the mean hours worked in a week by workers, at 38.9 hours in February 2021 from 39.3 hours in January 2021.

In January 2020, before the pandemic and the lockdown, the mean worked hours averaged 41.3 hours. As the pandemic peaked in April 2020, mean work hours dropped to 35 hours per week.

“Yes, this is reflected in the increase in underemployment rate. If a person is underemployed, [he] will have less income,” National Statistician Claire Dennis S. Mapa told the B usiness M irror on Tuesday when asked if reduced working hours mean less income for workers.

On the average, if employees report to work regularly, average mean work hours reach 40 hours a week, former dean of the University of the Philippines School of Labor and Industrial Relations (Solair) Rene Ofreneo said.

However, Ofreneo said the hours spent at work could reach as much as 48 hours a week

Continued from A1

Continued from A1

the one-week ECQ being implemented right now will not be felt immediately, just like what happened in July last year when cases was surging and a two-week “timeout” was implemented in August.

The cases decreased 10 days after the lockdown.

“We will be assessing so that we will know if we need to extend or just stricter restrictions [will be implemented] when the ECQ will be lifted,” she stressed.

She also recalled that the health-care utilization rate also peaked after the twoweek lockdown.

“Meaning, it would take a longer time for us to see the effects in our health-care system, in the number of cases...What we

if employees report six days a week. This could include overtime work for employees.

PSA’s Mapa said subsec tors where underemployment increased included wholesale and retail trade with 268,000 Fi l i p i n o s b e c o m i n g u n d e re m p l o ye d ; agricultural and forestry, 250,000; and other service activities, 192,000.

“The quality of jobs remains to be a challenge as the under rate slightly increased to 18.2 percent from 16 percent in January 2021.

This also indicates that income is limited due to quarantine restrictions,” Labor Secretary Silvestre Bello III said in a statement.

Apart from the reduced income, Ofreneo flagged a need to check the labor force participation rate, still low despite an increase, compared to 2020.

PSA said the labor force participation rate in the Philippines increased to 63.5 percent in February 2021. This means only 47.3 million Filipinos aged 15 and over are in the labor force.

Based on the PSA data, labor force participation rate was at 41.1 million in April 2020. This meant only 33.8 million Filipinos were either employed, unemployed, and/or underemployed. “ That [Februar y 2021 labor force participation] is still low because the labor force participation rate was very low last year,” Ofreneo said in Filipino, in a phone interview on Tuesday.

Apart from these, the PSA noted that 9.1 million persons experienced being laid off temporarily or permanently between March 2020 and February 2021.

A million of these workers or 11.1 percent are currently not in the Labor Force but experienced being laid off, while 1.2 million or 13.5 percent are currently unemployed but experienced being laid off.

Around 6.9 million or 75.4 percent of the total who were currently employed had experienced

are looking for right now is to slow down the number of cases spreading,” she said, adding that the ECQ will give hospitals time to manage the cases and strengthen the capacity of local government units.

She, however, stressed that the oneweek ECQ is “really short.”

As of March 30, an additional 9,296 cases were recorded, bringing the total number of infections in the country to 741,181.

There were also a total 103 additional recoveries and five deaths.

Of the total number of cases, 16.8 percent (124,680) are active, 81.4 percent (603,310) have recovered, and 1.78 percent (13,191) have died.

being laid off, according to PSA data.

“Essentially, people don’t care if it’s decent [work] or what. We have a joblessness problem,” Ofreneo quipped.

ECQ imperils gain

Nagkaisa Labor Coalition, meanwhile, said the improvement in labor force participation is a positive note on the February data. However, the reimposition of the enhanced community quarantine (ECQ) threatens this gain.

The group cited the need to look at how new labor entrants will fare given the state of the Philippine labor market. By May or June, the country will welcome new graduates who need to find jobs.

Ofreneo shared the same concern of finding jobs for these graduates in a few months.

“These latest employment numbers, therefore, demand serious attention and actual resolution as the government’s health and economic response can only be made effective and sustainable with the full participation of the greatest number of employed and healthy work force,” Nagkaisa Labor Coalition said.

Gains by sector

The economic managers said in terms of employment, these sectors showed the most improvement in job creation: i) services at 1.6 million, of which 1 million are from wholesale and retail trade, ii) agriculture at 259,000, and iii) industry at 46,000.

They said this trend signals rising economic activity. Over the past year, employment figures showed the sensitivity of the labor market to the level of community quarantines imposed to stop Covid-19.

The statement also explained that the LFS, done quarterly since 1987, is now conducted on a monthly basis starting February 2021, to yield timely data needed for urgent and responsive policy-making.

TALKS ON DRAFT GUIDELINES ON MAV ALLOCATIONS HALTED Continued from A12

“It is premature to talk about guidelines without any Executive Order issued or approval of the MAV plus. Our position is that let’s talk about it if there is already an approved MAV plus,” Agricultural sector Alliance of the Philippines (AGAP) President Nicanor Briones told the B usiness M irror. “ Bakit mauuna ang karitela kaysa sa kabayo? Hindi pa nangyayari na nauuna halimbawa ang IRR kaysa sa mismong batas ,” Briones, who was present during the meeting, added. (Why should the cart come before the horse? It never happens that an IRR is being crafted ahead of passage of a law).

The B usiness M irror learned that the five people who voted to suspend the talks on the draft guidelines were representatives from other MAV products sector, hog raisers sector, grains sector, consumer sector, and feed milling sector.

“It is really premature to talk about the guidelines without the EO,” Raul Q. Montemayor, who represented the grains sector in the said MAV-AC meeting, told the B usiness M irror.

The two MAV-AC members that voted in favor of discussing the draft guidelines were the representatives of the importers or traders and the poultry sector.

Based on the draft, the MAV Plus would be allocated to the sector/group members in the same manner as the regular MAV’s beginning year pool and mid-year pool, which is through the Systematic Distribution Procedure (SDP).

“Any balance remaining in the MAV Plus volumes after the SDP has been conducted shall be allocated on a first-come, first-served basis to any interested applicant in accordance with Section I.F[7] of the AO1 series of 1998,” the document read.

Under the draft guidelines, “existing MAV licensees who have utilized at least 75 percent of their existing MAV allocation for pork shall be eligible to avail of the additional MAV.” Likewise, the hog and pork producing sector, as well as non-MAV licensees shall be “subject to the same requirement” for “subsequent availment of allocation,” the document read.

The eligibility requirements stipulated by the guidelines include: 1) DTI or SEC registration with Certificate of Good standing from SEC for corporations; 2) business permit; and 3) accreditation certificate from the National Meat Inspection Service.

PHL. . .

Continued from A1

Last year, the Philippine government shelved its plans to issue Samurai bonds and renminbidenominated Panda bonds as the Bangko Sentral ng Pilipinas recently approved a P540-billion advance credit to help the government cover a budget deficit that swelled on the impact of the Covid-19 pandemic.

Credit ratings

International credit watchers rated the country’s most recent bond issuance positively, as the borrowings are intended for budgetary support.

After the Philippine government announced that it has issued a 55-billion yen samurai bond issuance on Tuesday, credit watchers Moody’s Investors Service and S&P Global Ratings both issued statements assigning ratings to the country’s latest borrowing.

Moody’s assigned a senior unsecured rating of Baa2 to the Japanese yen-denominated bond offering by the Government of the Philippines.

The credit watcher said their rating mirrors the Government of the Philippines’s issuer rating of Baa2, and that the rating was based on the terms and conditions that the proceeds from the bonds are intended for general purposes, including budgetary support and repayment of a portion of maturing government borrowings.

On a separate note, S&P assigned its ‘BBB+’ long-term foreign currency issue rating to the proposed benchmark-sized Japanese yendenominated senior unsecured notes.

Because the ratings on the bond issuance largely depend on the sovereign rating, Moody’s said the factors that could lead to an upgrade or downgrade of the rating hinge on the Philippines’s ability to maintain its rating.

“Moody’s would consider upgrading the Philippines’s sovereign rating upon evidence of a more rapid reversal of the deterioration in fiscal and debt metrics stemming from the coronavirus shock.

This would likely entail a sustained restoration of economic growth to rates similar to those recorded prior to the outbreak. Together, a resumption of sustained high growth and rapid restoration of fiscal strength would denote particularly effective macroeconomic and fiscal policy,” Moody’s said.

“Factors that would prompt a downgrade of the Philippines’s sovereign rating include the emergence of macroeconomic instability that would lead to a greater deterioration in fiscal and government debt metrics than Moody’s currently expects and/or an erosion of the country’s external payments position.

The reversal of reforms that have supported prior gains in economic and fiscal strength would also likely lead to a downgrade. A material deterioration of institutions and governance strength, with signs of erosion in the quality of legislative and executive institutions, would also be negative,” it added.

Just earlier this week, Moody’s issued a warning on the implications of the rising Covid cases in the country and the renewed lockdowns in some parts of the Philippines.

The credit watcher said the spike in cases is a “credit negative” for the Philippine economy.

Credit negative for sovereigns usually means a further deterioration of these conditions may lead to a downgrade in the country’s current credit standing.

The Nation BusinessMirror

www.businessmirror.com.ph

Editor: Vittorio V. Vitug • Wednesday, March 31, 2021 A3

PBEd calls for bigger education budget to avert ‘learning crisis’

By Tyrone Jasper C. Piad

@TyronePiad

T

HE Philippine Business for Education (PBEd) is calling for a bigger budget for the education sector and other reforms to address the looming “learning crisis” seen threatening the country’s economic growth in the long term.

PBEd Chairman Ramon del Rosario Jr. said in a recent event that the learning loss in the country demands an immediate solution as this can affect the work force and the overall economy, explaining that infusing more resources to education can go a long way.

“Let us lobby for increased allocation of resources for education so that we can invest as much in our students as our Southeast Asian neighbors do,” del Rosario said.

The government earmarked P751.7 billion or 16.7 percent of the 2021 national budget for the education sector.

Former Education Secretary Armin Luistro, currently serving as the brother provincial of the Lasallian East Asia District, agreed that the budget allocation for education should be further increased.

“If we achieve the 20 percent targeted budget for the education sector, that will translate to around P8,000 additional budget per student per year,” he explained.

Del Rosario also focused on the health of the students to address malnourishment, calling for the proper implementation of the Philippine action plan for nutrition.

An independent assessment agency for learning is necessary as well to have a check and balance of the performance of the education system, he said. This way, targeted solutions to potential problems will be crafted immediately.

Lastly, the PBEd chairman stressed the need to prioritize the teachers and incentivize them to encourage more to go into the teaching profession.

These proposed reforms stemmed from what the group described as a learning crisis in the country. “The next generation of our work force is under threat by a massive learning loss that is calling for immediate and comprehensive action,” del Rosario warned.

He noted that majority of the schools in the country have no Internet access despite the increased need for it. In addition, millions of students have decided to drop out of school amid the pandemic, he added.

“On the issue of quality, long before the pandemic hit...our learners were already suffering from poor education, reflected in the various international assessments in which we took part. We ranked among the lowest in the world in terms of science, mathematics and reading competency,” said del Rosario.

“Some of our teachers are ill-equipped to teach and this is reflected in the low proficiency levels of our learners across major subject areas,” he added.

Apart from PBEd, the Employers Confederation of the Philippines, IT and Business Process Association of the Philippines, Financial Executives Institute of the Philippines, Makati Business Club, Management Association of the Philippines (MAP), Philippine Business for Social Progress and the Philippine Chamber of Commerce and Industry were also in the said event, calling for a united business sector to respond to the matter at hand.

MAP President Aurelio Montinola III said that the business sector

Group presents proposals to improve public transportation in NCR+ bubble

By Lorenz S. Marasigan

A

@lorenzmarasigan

COALITION of 154 organizations has offered the government several recommendations to help optimize the transport modes and promote better mobility with the reimposition of the enhanced community quarantine (ECQ) in the National Capital Region Plus (NCR+) bubble.

In a letter addressed to Cabinet secretaries, the Move As One Coalition advised the government on five key areas, namely: the utility of checkpoints; availability of public transport; support for safe walking and cycling; compassionate rather than punitive approaches to enforcement; and the inclusion of transport workers in the priority groups for vaccination.

The coalition said utility checkpoints within the NCR+ bubble should be removed, saying these only leads to crowding and possible exposure to Covid-19. The group called the internal checkpoints “counterproductive” given that they restrict mobility of essential workers and prevent the smooth operation of public transport.

The group also urged the Land Transportation Franchising and Regulatory Board (LTFRB) to authorize more vehicles and routes to reduce waiting time and queues at stops and terminals, saying that providing free rides is not a reason to reduce public transport supply.

And while it approves of the service-contracting program, the group said, the Department of Transportation (DOTr) should hasten the distribution of payouts to transport workers under the program, and that such should be extended to traditional jeepneys.

The program, Move As One added, should also put a premium on high-volume routes “so that a larger number of commuters can benefit from a more stable and predictable supply of public transport.”

The group also recommended the introduction of exclusive lanes for public-utility vehicles (PUVs), similar to the bus lane along Edsa, to reduce exposure time on public transport.

It also urged the government to be more mindful of the data on public transport to efficiently address any supply-demand gap.

Third, Move As One also advised the government to urge the public to promote “safe walking and cycling” by declaring a 30-kilometer per hour speed limit on all NCR+ roads and setting up bike lanes that connect major establishments in the quarantine bubble.

Fourth, it recommended the removal of large fines on transport workers who have passengers without face shields or overloaded vehicles as a form of “compassionate” approach to enforcement.

Likewise, the government should consider avoiding “anti-colorum” operations due to short transport supply. It said that “if public transport were safe, stable, and sufficient, there would be no demand for colorum operations.”

Colorum is a colloquial term that refers to commercial transport operations without franchises.

Lastly, the group also recommended that PUV drivers be part of the priority line for vaccine jabs given that they are considered as essential and frontline workers.

should “come up with something urgent and comprehensive” or risk “throwing away the future of an entire generation of Filipino learners.”

Del Rosario is also the president and chief executive officer of Phinma Corp. The listed firm has stake in several schools, including Araullo University, Cagayan

de Oro College Inc., University of Iloilo, University of Pangasinan, Southwestern University and St. Jude College Inc.

A4 Wednesday, March 31, 2021 • Editor: Vittorio V. Vitug

Economy BusinessMirror

www.businessmirror.com.ph

SRA allots most of sugar production to domestic market

By Jasper Emmanuel Y. Arcalas @jearcalas

T

HE Philippines has decided to allocate its remaining raw sugar output in crop year 2020-2021 for domestic consumption to ensure ample stockpile and avert a possible increase in prices as the country faces lower than expected production.

The Sugar Regulatory Administration (SRA) issued Sugar Order (SO) 1-A that authorized the scrapping of the 7 percent “A” allocation or sugar to be exported to the US as mandated by earlier SO 1.

Based on SO 1-A, all remaining sugar production covering “production of week ending April 4” until the end of the crop year 2020-2021, which is on August 31, shall be al-

located as “B” or for the domestic sugar market.

The SRA board explained that the reallocation was driven by the lower sugar content of canes milled in the current crop year due to “severe” La Niña affecting the majority of sugarcane fields.

The SRA board explained that the decline in sugar recovery milling rate, which has dropped to an average of 1.71 50-kilogram bag per ton cane (LKg/TC) is “substantially lower” than the 1.87 LKg/TC estimated before the start of the crop year.

“The drop in LKg/TC eclipses the increase in sugarcane tonnage this crop year, which is higher by 8 percent [as of March 7, 2021] from tonnage for the same week-ending last crop year,” the document released on Tuesday read.

“As a consequence of the drop in LKg/TC, SRA in its Final Crop Estimate for calendar year [CY] 2020-2021 revised sugar production for the crop year to 2.101 million metric tons, from 2.19 million metric tons,” it added.

The SRA said it has “informed stakeholders about the drop in estimated production for the crop year, who in turn have given their recommendation/s on how to address the situation.”

Philippine Sugar Millers Association Executive Director Cocoy Barrera told the BusinessMirror that their group supported the reallocation to “boost domestic supply” and “ensure stability of prices.”

Barrera said the country may still be shipping a total of about 100,000 MT to 102,000 MT of sugar to the

US from the production that has been “quedanned” prior to SO 1-A. This could also include the volume of carry-over A sugar from the previous crop year.

Due to this, there are no concerns if the scrapping of “A” allocation would put the Philippines’s quota to the US at risk, Barrera said.

“That’s enough for three vessels, which will make us substantially compliant [with our quota to the US],” he said.

Barrera said the country has already shipped 34,000 MT of sugar to the US while there is already a nomination for a vessel for the second shipment which would contain about the same volume as the first one.

“We do not foresee immediate changes in our quota to the US. With the change in administration of the

US government, the sugar program will remain,” he said.

SRA Administrator Hermenegildo Serafica told the BusinessMirror that all production this week shall be quedanned already as “B” sugar.

As for the remaining volume to be exported to the US, the SRA is still in the process of quedanning the production last week, Serafica added.

“There are still A sugar stocks and we are still in the process of quedanning the production of last week. We will know after this week how much ‘A’ sugar we have left,” he said via SMS. SRA board member Emilio Yulo, who represents the planters’ sector, said he doubts that the country would be able to hit its revised

production estimate for the current crop year.

Citing SRA data and trend, Yulo said total sugar output this crop year would settle at 2 million MT at best, which is slightly lower than the 2.028 million MT recorded volume in the previous crop year.

As of week ending March 14, the country’s sugar output declined slightly to 1.394 million MT from the 1.397 million MT recorded volume in the same week of last year, based on latest SRA data.

SRA data showed that sugarcane milled as of the reference period grew by 7.57 percent to 16.67 million tons from last year’s 15.504 million tons. However, sugar recovery rate is down by 6.56 percent to 1.71 LKg/ TC from 1.83 LKg/TC last year, data also showed.

Meralco: April power rates may go up due to higher generation charge

By Lenie Lectura @llectura

P

OWER rates for April could go up compared with the previous month because of higher generation charge, a major component of the Manila Electric Co. (Meralco) bill.

“Based on early, initial projections, there may be higher generation charge for the month of April 2021 due to observed increase in WESM [Wholesale Electricity Spot Market] prices,” said Meralco Vice President and Head of Corporate Communications Joe Zaldarriaga. “Luzon peak

demand increased by more than 900 MW in March due to warmer temperature and large capacities on outage persisted, remaining in excess of 3,400 megawatts on the average.”

The daily Luzon Load-Weighted Average Price (LWAP) reached P8 per kilowatt- hour (kWh) during the

week of March 1 and P9/kWh during the week of March 15. In comparison, the daily LWAP was below P3/kWh for most of February.

Meralco emphasized that March 2021 marked the second straight month of downward adjustment for power rates as the overall rate

for a typical household decreased

by P0.3598 per kWh, from last month’s P8.6793 to P8.3195 per kWh this month. This is equivalent to a decrease of around P72 in the total bill of residential customers consuming 200 kWh. Notably, this month’s rate is the lowest since August 2017.

“Nevertheless, Meralco continues to encourage our customers to continue practicing energy efficiency initiatives at home to be ready in managing their consumption, as the summer season may bring an increase in residential electricity consumption by 10 percent to 40 percent versus average consumption during the cool months of January and February,” added Zaldarriaga.

‘Keep us updated on construction plans’

MEANWHILE, Meralco urged construction companies and contractors to inform the power distributor ahead of time for planned construction work near electric poles and electrical wires and cables.

This courtesy is meant to ensure that Meralco can implement proper safety precautions to prevent instability of utility poles when excavations are dug, accidental power trips on circuit breakers and transformers, or unintentional damage to power lines that could cause power blackouts at the minimum, or electrocution and fatalities at the worse.

“We’re requesting our contractor and developer partners to please get in touch with us if they’re planning to do some civil works near our facilities. Meralco doesn’t

want to get in the way of construction projects and their progress.

However, there are some important protocols that need to be observed,” said Meralco Vice President and Head of Organizational Safety and Business Continuity Management, Antonio M. Abuel Jr. Construction companies can coordinate with Meralco and advise them of impending activities near electrical assets, and the utility’s safety engineers can make sure that unplanned power interruptions are avoided, and any civil works can proceed with safety.

Once advised, Meralco crew can facilitate interruption if extremely necessary through a Request for Temporary Power Interruption (RTPI).

They can also assess the ground if there is an alternative position for the poles, or on other cases, an outright relocation of it.

Finally, Meralco is also asking the public to report any damaged or reclining poles near any construction sites if they happen to notice these.

Earlier, Sen. Win Gatchalian, chairman of the Senate Committee on Energy authored the “AntiObstruction of Power Lines Act” in 2019, prohibiting the planting of tall growing plants, the construction of hazardous improvements, and the conduct of any hazardous activities within the power line corridor.

T he power line cor r idor— which includes the land beneath, the air spaces surrounding, and the area traversed by power lines, including its horizontal, vertical, and similar clearance requirements—shall, at all times, be kept clear and free from any obstructions, dangerous structures, hazardous activities, or any similar circumstances that impede the continuous flow of electricity.

Philippine Red Cross extends assistance to most vulnerable families during ECQ

D

UE to the stricker implementation of the enhanced community quarantine (ECQ) in the National Capital Region and nearby provinces, the Philippine Red Cross (PRC) has launched its food pack distribution to the most vulnerable families affected by the localized lockdown in the cities of Quezon, Pasay, Pasig, San Juan, Caloocan, Navotas, Muntinlupa and Manila.

Some 3,500 most vulnerable families will receive food packs from PRC during the entire duration of ECQ. Each food pack contains rice, canned goods, eggs, hotdogs, coffee, pancit canton, and face masks to support their needs during ECQ. “These food packs from PRC are being distributed to aid vulnerable families caught unprepared for the lockdown during the Holy Week. PRC will deliver the food packs right to your doorstep to eliminate the need for the recipients to get out of their homes to control the spread of the virus,” PRC Chairman Richard J. Gordon said in Filipino.

News BusinessMirror

www.businessmirror.com.ph

BSP launches gender-focused survey on MSMEs to boost financial inclusion

By Bianca Cuaresma @BcuaresmaBM

T

HE Bangko Sentral ng Pilipinas (BSP) has launched a gender-focused survey on micro, small and medium enterprises (MSME) in the country.

The survey, supported by international financial giant J.P. Morgan and the Frankfurt School and Kadence, is part of the BSP’s efforts to boost lending to MSMEs through and beyond the pandemic, as well as its commitment to promoting gender equality in financial inclusion.

According to the Central Bank, although women represent a “vi-

brant” part of the MSME sector, limited data and evidence restrict more targeted policies to support their unique business development needs and requirements.

This survey, BSP explained, is expected to pioneer national level reporting on the bottlenecks and challenges, as well as opportunities for women’s businesses from a demand-side perspective.

It will also look at the key characteristics of the MSMEs; access and use of financial products, including digital financial products; and the impact of Covid-19 on businesses.

The results of the survey are expected to be ready by the fourth

quarter of 2021.

“Filipino women entrepreneurs dominate the country’s MSME landscape. When we support women’s access to finance, we enable the MSME sector to achieve its full potential as a driver of inclusive economic growth in the country,” BSP Governor Benjamin Diokno said.

“The MSME Demand-Side Survey is thus an important initiative toward building a deeper understanding of the sector to support evidence-based policy-making and provide valuable market insights for financial service providers to strategically serve the MSMEs,” he stressed.

Lanao del Sur inaugurates biggest water system

W

AO, Lanao del Sur—The International Labour Organization (ILO) and the Government of Japan on Tuesday launched the largest water system in Lanao del Sur that will provide clean and safe water amid the pandemic.

The water system connects six barangays with a population of over 10,000 people. These barangays have limited water access for two decades.

The water system with 69 tap stands will cover communities, agricultural areas, schools and a birthing clinic.

“Water has become more valuable during Covid-19, especially for areas facing multiple burdens such as

extreme poverty, conflict, and climate change,” said Khalid Hassan, director of the ILO Country Office for the Philippines.

“We are grateful to the Government of Japan for giving us the opportunity to take part on Mindanao’s development through this water project that creates decent work, provides safe water and promotes peace,” Hassan added.

Under the ILO Japan Water and Sanitation Project , 263 community members were trained and hired in construction, mostly those who lost their jobs and livelihoods due to the pandemic.

A Single Drop for Safe Water , as the project’s implementing partner further

supported the community contractor, Katutungan Irrigators’ Association in building the water system. Workers received wages and social protection benefits. Occupational safety and health protocols were implemented.

The project also ensured equal employment opportunity by engaging women in construction, and planned for its sustainability through social dialogue.

In addition to promoting decent work and contributing to peace-building in the Bangsamoro Autonomous Region in Muslim Mindanao, the project also helped upgrade technical and financial skills of the community.

Wednesday, March 31, 2021 A5

5 Southern Tagalog provinces cleared of Reds, Army says

T

By Rene Acosta

@reneacostaBM

HE military declared on Tuesday that it has cleared five provinces in Southern Luzon of communist insurgents, and has forced the surrender of at least 702 rebels in an operational victory against the New People’s Army (NPA).

The Army’s 2nd Infantry Division issued the report through its spokesman Capt. Jayrald Ternio as the NPA, armed wing of the Communist Party of the Philippines (CPP), observed its 52nd year anniversary celebration on Monday.

The CPP, through its central committee, encouraged its armed wing to withstand the government’s operation with its mass-based support, adding its guerilla fronts have increased and practically present across the country.

The Philippine National Police (PNP) said it has thwarted plans by the rebels to carry out attacks in Metro Manila in marking its anniversary through its operations in Batangas that led to the seizure of firearms.

The 2nd ID said it has cleared Cavite;

Romblon; Marinduque; Laguna and Batangas from the influence of rebels. These provinces, the Army said, have been declared as having “Stable Internal Peace and Security,” or SIPS, after meeting the parameters set under the military’s phases of normalization, specifically on the absence of recorded NPA violent activities for at least one year.

On the other hand, it has also forced the surrender of a total of 702 former rebels since 2016 wherein around 393 have availed of the government’s reintegration program, which could provide up to P700,000 in grants and benefits, while 309 are still processed.

The division has also neutralized 29 rebels in combat, while 58 were captured in law-enforcement operations

since last year as part of the intensified campaign in fully eradicating the insurgency in Southern Tagalog.

“Today, instead of celebrating, they shall only begin to accept their irrelevance to the Philippine history with 2nd ID’s continuous decimation of its forces in our area of responsibility,” said Brig. Gen. Rommel Tello, acting commander of the Army’s 2nd ID. Meanwhile, PNP chief General Debold Sinas said that they foiled plans by the NPA to deploy urban guerilla units with a mission to conduct terrorist activities in Metro Manila.

He said the thwarted plans are part of the Communist Party of the Philippines and NPA efforts to revive armed city partisan units, while preparing hit squads based in the countryside that could be deployed to cities on missions.

“The PNP’s intensified anti-criminality and anti-terrorism drive in Calabarzon, led by the CIDG [Criminal Investigation and Detection Group] and in cooperation with the local police units of PRO4A [Police Regional Office 4A], resulted in the seizure of several high-powered firearms and explosives believed to have been acquired by the CPP-NPA as part of its plan to commit attacks against government forces in connection with the pronouncement of the top leadership of the CPP-NPA-NDF,” Sinas said.

A6

Wednesday, March 31, 2021

The World BusinessMirror

Myanmar civil war fears grow after airstrikes on ethnic army

A

s the death toll among Myanmar’s protesters rose dramatically last weekend, military air strikes against one of the country’s largest rebel groups stoked fears of another problem: Full-fledged civil war.

The Karen National Union, which controls an area in the southeast along the Thai border, confirmed on Monday that about 10,000 residents fled to a safe zone last weekend after the Myanmar military conducted air strikes that killed three people. The fighter jets came out in retaliation for an attack by ethnic Karen rebels

on a base of the national army, or Tatmadaw, in which 10 soldiers were killed and another eight were arrested.

The attacks came on the same day at least 114 people were killed in clashes with the military and police in the deadliest weekend since the February 1 coup, sparking condemnation from governments around the world.

In this photo provided by Free Burma Rangers, villagers shelter in the open due to airstrikes on March 27, in Deh Bu Noh, in Karen state, Myanmar. Myanmar military jets hit a village in Karen State on Saturday night, killing a few people and wounding others, according to relief organizations. Free Burma Rangers via AP With the death toll now exceeding 500 over the past two months, the prospect of a wider fight with potentially dozens of armed militias risks even more bloodshed.

“There is a distinct possibility of mass demonstrations cascading into civil war or inter-state war,” said Lee Morgenbesser, a lecturer at Australia’s Griffith University whose researches Southeast Asian politics. “Given the sometimes porous nature of Myanmar’s borders, along with the fact that the armed ethnic groups are not subject to state authority, it is likely that the crisis spills across international borders.”

On Sunday a dozen defense chiefs from North America, Europe and the Asia Pacific jointly condemned the use of lethal force against unarmed people. Then on Monday, Prime Minister Prayuth Chan-Ocha of neighboring Thailand said preparations had begun for an influx of migrants.

‘Mass migration’

“We don’t want there to be a mass migration into our areas but we must also keep human rights in mind,” said Prayuth, a former army chief who staged a coup in 2014. “As there are violent conflicts in their country it is only normal that there would be migrations.”

Chinese Foreign Ministry spokesman Zhao Lijian also repeated a call for all sides to de-escalate the situation, while declining to comment on the prospect of a civil war. China shares a 1,300-mile (2,100-kilometer) border with Myanmar.

“Violence and bloodshed is in the interests of no one,” Zhao said.

Protesters and key allies of detained civilian leader Aung San Suu Kyi have called on Myanmar’s numerous armed ethnic groups to band together to face down a common enemy in the Tatmadaw. On Sunday, the Kachin Independence Army, another armed group that has urged the military to end its crackdown on demonstrators, launched deadly attacks on at least four police battalions in Kachin State, according to Myanmar Now. Since independence from Britain in 1948, Myanmar has struggled to build a national identity inclusive of the numerous minority groups in it, fueling resentment against the military—dominated by the Bamar, or ethnic Burmese—and perpetuating some of the longest-running armed conflicts in the world.

Myanmar has hundreds and possibly thousands of armed militias in a country where the state recognizes 135 distinct ethnic groups, according to a report last year by Brussels-based International Crisis Group. Of those, around 20 ethnic armed groups have both political and military wings.

A parallel administration set up by members of Suu Kyi’s allies, known as the Committee Representing Pyidaungsu Hluttaw, or CRPH, has agreed with the major ethnic groups on the need for a unity government that would compete for legitimacy with the junta, according to Sasa, who goes by one name and describes himself as the envoy representing Myanmar’s ousted parliament to the United Nations.

The CRPH is working with several ethnic groups on writing the text of a new constitution, Sasa said in an interview last week, without naming them.

It would include progress toward a longstanding goal of a federal army that would allow the ethnic minorities to retain their own armed forces, he said.

A federal army has “become essential,” Sasa said, adding that rank-and-file soldiers could join the new organization instead of suppressing demonstrations under the name of the Tatmadaw. “The government that we are going to form in April is going to be called the National Unity Government, so we’d like it to be as inclusive as possible,” he said.

Unity government

Coup leader Min Aung Hlaing has sought to reach out to various ethnic armies to prevent them from joining together. Earlier this month he removed the Arakan Army from a list of terrorist groups following clashes in which it fought for greater autonomy in western Rakhine State.

In response to the KNU attack on Saturday, state broadcaster MRTV said the KNU assured the junta a rogue brigade was responsible for the strike and gave the green light for the Tatmadaw to retaliate. Efforts to reach Phado Kwe Htoo Win, the vice chair of the KNU, were unsuccessful.

While the Karen National Union last week said it had received an invitation to meet with Min Aung Hlaing, it only plans to do so after the military meets a series of demands that included transferring power to a National Unity Government. In a separate statement Tuesday, three other major ethnic armed groups including the Arakan Army said they would join protesters in what they call a “spring revolution” against the Tatmadaw if it doesn’t stop the killing immediately or meet calls to restore democracy.

“Our Brotherhood Alliance is now reviewing the non-ceasefire agreement following acts of the Tatmadaw after the coup,” the groups said in a statement. “We will continue to cooperate with other organizations for border stability, Covid-19 containment, people’s safety and international antiterrorism acts.” Bloomberg News

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

In response to military takeover, US suspends trade deal with Myanmar

W

ASHINGTON—The United States on Monday suspended a trade deal with Myanmar until a democratic government is restored in the Southeast Asian country after a Feb. 1 coup followed by a violent crackdown on protests.

The military overthrew the elected government, jailed Aung San Suu Kyi and other civilian leaders and has killed and imprisoned protesters in the country also known as Burma.

“The United States supports the people of Burma in their efforts to restore a democratically elected government,’’ US Trade Representative Katherine Tai said in a statement. “The United States strongly condemns the Burmese security forces’ brutal violence against civilians. The killing of peaceful protestors, students, workers, labor leaders, medics, and children has shocked the conscience of the international community.’’

Tai’s office said the United States was immediately suspending “all US engagement with Burma under the 2013 Trade and Investment Framework Agreement.’’ Under the agreement, the two countries cooperated on trade and investment issues in an effort to integrate Myanmar into the global economy, a reward for the military’s decision to allow a return to democracy—a transition that ended abruptly with last month’s coup.

Tai’s announcement on Monday doesn’t stop

trade between the two countries.

But the United States is separately imposing economic sanctions on Myanmar. In response to the military takeover, for instance, the United States and the United Kingdom had earlier imposed sanctions on two conglomerates controlled by Myanmar’s military, Myanmar Economic Holdings Ltd. and Myanmar Economic Corp.

White House press secretary Jen Psaki noted that the US has also slapped export controls on Burma and added several Burmese businesses to a trade blacklist. “We, of course, continue to work with our allies and partners and like-minded institutions, as we condemn the actions of the military, call for the immediate restoration of democracy, and hold those who seize power accountable,” she said.

Two-way trade between the two countries doesn’t amount to much: Myanmar last year was the United States’ 84th biggest partner in the trade of goods such as automobiles and machinery. US goods exports to Burma came to just $338 million; imports to $1 billion.

But the US and other wealthy nations are major importers of garments and other household items from Myanmar factories, mostly owned by companies from other countries, that have led the modernization of the impoverished country’s economy, helping provide millions of jobs. AP

Palau president visits Taiwan amid strong Chinese pressure

T

AIPEI, Taiwan—The president of the Pacific island nation of Palau was visiting Taiwan on Tuesday along with the US ambassador to his country, a show of solidarity as China increases diplomatic, economic and military pressure on Taiwan.

Palau President Surangel Whipps was scheduled to meet Taiwan President Tsai Ing-wen during his visit Tuesday.

The presence of the US ambassador to Palau, John Hennessey-Niland, was a further sign of

Washington’s support for Taiwan, despite the lack of formal diplomatic relations between the two.

China claims Taiwan as its own territory to be brought under Beijing’s control by force if deemed necessary and it has worked to internationally isolate the island.

China has banned its citizens from visiting Palau, but Taiwan has responded by introducing a travel bubble between the two that will allow visitors to avoid being quarantined. AP

China sharply reduces elected seats in Hong Kong legislature

H

ONG KONG — C h i n a h a s sharply reduced the number of directly elected seats in Hong Kong’s legislature in a setback for the territory’s already beleaguered democracy movement.

The changes were announced on Tuesday after a two-day meeting of China’s top legislature.

In the new make-up, the legislature will be expanded to 90 seats, and only 20 will be elected by the public.

Currently, half of the 70-seat legislature—35 seats—are directly elected.

The move is part of a two-phase effort to reign in political protest and opposition in Hong Kong, which is part of China but has had a more liberal political system as a former British colony. China imposed a national security law on Hong Kong last year and is following up this year with a revamp of the electoral process.

The crackdown comes in the wake of months of pro-democracy protests in 2019 that brought hundreds of thousands to the streets and turned violent as the government resisted protester demands.

“It’s a ver y sad day for Hong Kong. The election system is completely dismantled,” said former law maker and Democratic Part y member Emily Lau. China’s top legislature, the Standing Committee of the National People’s Congress, amended Hong Kong’s constitution to pave the way for the changes.

The Hong Kong government is now tasked with revising its electoral laws and holding an election.

In the current 70-member legislature, voters elect half the members and the other half are chosen by constituencies representing various professions and interest groups. Many of the constituencies lean pro-Beijing, ensuring that wing a majority in the legislature.

The new body will have 20 elected members, 30 chosen by the constituencies and 40 by an Election Committee, which also has and will continue to choose the city’s leader.

T he com m it tee, wh ic h w i l l be e x pa nded f rom 1, 20 0 to 1, 50 0

members, is dom i n ated by sup por ters of the centra l gover nment i n B eiji ng.

A separate committee will also be established to review the qualifications of candidates for office in Hong Kong to ensure the city is governed by “patriots,” in the language of the central government.

The political opposition in Hong Kong—which has advocated for more democracy, not less—sees the changes as part of a broader effort to keep them out of office.

“They are going to get rid of opposition voices because under this new system, which is so oppressive and restrictive, I don’t think any self-respecting individual will want to take part,” said Lau. In part, it comes down to the definition of patriots. The opposition has tried to block legislation by filibustering a key legislative committee for months and disrupting legislative proceedings.

Beijing, which prioritizes political stability, sees these actions as unduly interfering with the governing of Hong Kong and wants to keep these actors out of government.

A statement by Beijing’s Hong Kong and Macau Affairs Office said that the Hong Kong national security law provided a solid legal foundation to safeguard national security and that the electoral reforms provide a “solid institutional guarantee” of the city’s so-called “one country, two systems” framework and ensure that only “patriots” rule Hong Kong.

The statement also said that with the electoral changes, the relationship between the city’s leader and the legislature will be smoother, and the “various deep-seated contradictions and problems that have plagued Hong Kong for a long time” will be more effectively resolved.

The full National People’s Congress rubber-stamped a proposal in midMarch that authorized the Standing Committee to amend the Basic Law, the constitution that has governed Hong Kong since the former British colony was handed over to China in 1997. AP

www.businessmirror.com.ph

The World BusinessMirror

Pfizer demands South African ministers personally sign Covid-19 vaccine pact

P

fizer Inc. is demanding that South Africa’s health and finance ministers personally sign a Covid-19 vaccine-supply agreement so that it is indemnified from any claims made against it in the country regarding the shot.

The demand is contained in a March 24 letter from South Africa’s Health Minister Zweli Mkhize to his finance counterpart Tito Mboweni, seen by Bloomberg and confirmed by the National Treasur y. Pfizer was not satisf ied by assurances that the signature of the country’s health director general was sufficient to guarantee the indemnity, Mkhize said.

The demand threatens to further delay the rollout of South Africa’s vaccine program, which is lagging behind that of emerging market peers and a number of African countries, and heightens pressure on the government. The agreement is for the supply of 20 million doses of the vaccine made by Pfizer and BioNTech SE. The ministerial signatures will give Pfizer the “assurance that the terms of the indemnity clause are acknowledged by government and, as such, any liability that may be established will be covered by the fiscus,” Mkhize wrote. “You will no doubt agree with me that there is mounting pressure and we can no longer justify publicly any further delays.”

Mkhize’s spokesman declined to comment. The National Treasury said in a response to a query that discussions about the signing of agreements

were ongoing and confirmed receipt of the letter.

“We are in discussions with the Government in South Africa to provide access to the vaccine,” Pfizer said in a response to queries. “These discussions are confidential and we have nothing to announce at the current time.”

The demand was the last Pfizer would make and, once signed, vaccines would begin to arrive within two weeks, Mkhize said.

With over 1.5 million recorded infections and almost 53,000 deaths, South Africa is the worst-affected country by the coronavirus on the continent. So far only 231,605 people have been vaccinated as part of a study using Johnson & Johnson’s vaccine while a wider vaccination program is yet to begin.

The government has said an initial target to vaccinate 40 million people this year will be missed. An earlier shipment of 1 million doses of AstraZeneca Plc’s shot was sold after a small study showed it had limited effectiveness in preventing mild cases of the disease.

On March 26, News24, a South African news website, said larger deliveries of Johnson & Johnson’s shots would be delayed because the government had not set up a nofau lt compensation f und, citing people it didn’t identify. Anban Pillay, a deputy director general in the health department, told Bloomberg there were no delays without giving further information. Bloomberg News

Probe underway, day after giant cargo vessel freed in Suez Canal

S

UEZ, Egypt—Experts on Tuesday boarded a colossal container ship that had been stuck sideways for nearly a week in the Suez Canal before it was dislodged as questions swirled about the grounding that had shaken the global shipping industry and clogged one of the world’s most vital waterways.

The Ever Given was safely anchored on Tuesday in the Great Bitter Lake, a wide stretch of water halfway between the north and south ends of the canal, after salvage teams succeeded in finally freeing the skyscraper-size vessel on Monday afternoon. The grounding of the ship had halted billions of dollars a day in maritime commerce.

A senior canal pilot, speaking on condition of anonymity because he was not authorized to talk to journalists, told The Associated Press that experts were looking for signs of damage and trying to determine the cause of the vessel’s grounding.

Engineers were also examining the engines of the Panama-flagged, Japanese-owned ship hauling goods from Asia to Europe to determine when exactly it can sail to its destination in the Netherlands, he said without elaborating.

Ships stacked with containers could be seen from the city of Suez, sailing in the north-bound part of the waterway. Suez Canal service provider Leth Agencies said that over threedozen vessels that had waited for Ever Given to be freed, have already exited the canal into the Red Sea since the waterway was reopened for navigation at 6 p.m. on Monday.

As of Tuesday morning, more than 300 vessels were waiting on both ends of the Suez Canal and in the Great Bitter Lake for permission to continue sailing to their destinations, Leth Agencies said.

Lt. Gen. Osama Rabei, head of the Suez Canal Authority, had told reporters Monday the maritime traffic could return within four days to its average level before the Ever Given grounded.

The shipowner, Shoei Kisen, said Tuesday that it would be part of the investigation along with other parties, though it did not identify them by name. It also refused to discuss possible causes of the accident, including the alleged high speed and other errors, saying it cannot comment on an ongoing investigation.

The company added that any damage to the ship was believed to be mostly on the bottom. Shoei Kisen

said it was not immediately known whether the vessel will be repaired on site in Egypt or elsewhere, or whether it will eventually head to its initial destination of Rotterdam. That is a decision to be made by its operator, rather than the shipowner, the company said.

On Monday, a flotilla of tugboats, helped by the tides, wrenched the bulbous bow of Ever Given from the canal’s sandy bank, where it had been firmly lodged since March 23. The tugs blared their horns in jubilation as they guided the Ever Given through the water after days of futility that had captivated the world, drawing scrutiny and social media ridicule.

Analysts expect it could take at least another 10 days to clear the backlog on either end of the Suez Canal.

The Ever Given had crashed into a bank of a single-lane stretch of the canal about 6 kilometers (3.7 miles) north of the southern entrance, near the city of Suez. That created a massive traffic jam that held up $9 billion a day in global trade and strained supply chains already burdened by the coronavirus pandemic.

At least 367 vessels, carrying everything from crude oil to cattle, had backed up to wait to traverse the canal.

Dozens of others have taken the long, alternate route around the Cape of Good Hope at Africa’s southern tip—a 5,000-kilometer (3,100-mile) detour that costs ships hundreds of thousands of dollars in fuel and other costs.

The canal is a source of national pride and crucial revenue for Egypt, and President Abdel Fattah el-Sissi praised Monday’s events after days of silence about the blockage.

“Eg y ptians have succeeded in ending the crisis,” he wrote on Facebook, “despite the massive technical complexity.”

The crisis over the Ever Given had cast a spotlight on the vital trade route that carries over 10 percent of global trade, including 7 percent of the world’s oil. Over 19,000 ships ferrying Chinese-made consumer goods and millions of barrels of oil and liquefied natural gas flow through the artery from the Middle East and Asia to Europe and North America.

The unprecedented shutdown, which raised fears of extended delays, goods shortages and rising costs for consumers, has prompted new questions about the shipping industry, an on-demand supplier for a world under pressure from the pandemic. AP

Wednesday, March 31, 2021

A7

ICU cases register new peak in French coronavirus surge

P

ARIS—The number of patients in intensive care in France on Monday surpassed the worst point of the country’s last coronavirus surge in the autumn of 2020, another indicator of how a renewed crush of infections is bearing down on French hospitals.

T he Fre nc h go ve r n me nt ’s count of Covid-19 patients in ICUs and hospital surveillance units climbed to 4,974 on Monday. That is past the last high point of 4,919 ICU cases on November 16, when France was also gripped by a virus surge and was locked down in response.

ICU admissions are increasing by double digits on a daily basis.

Doctors are increasingly sounding the alarm that they may have to start turning patients away for ICU care, particularly in the Paris region.

“We are in a crisis situation,” said Dr. Jacques Ballout of the Pierre Beregevoy Hospital in the Burgundy town of Nevers. His hospital’s 12-bed intensive care ward is at capacity with Covid

and non-Covid patients.

“We’ll see if we can stay the course. It all depends on the infections,” he told The Associated Press over the weekend. Virus restrictions in his region were tightened last week as the government added it to the country’s highest-risk zone.

When the pandemic first hit France, hospitals ended up with more than 7,000 patients in intensive care, a high point reached in April 2020.

But during that initial tidal wave of infections, hospitals stopped treating many non-Covid-19 patients to avoid becoming completely overwhelmed.

This time, as was also the case last November, hospitals are not completely clearing their decks

Rebels leave beheaded bodies in streets of Mozambique town

J

OHANNESBURG—Fierce fighting for control of Mozambique’s strategic northern town of Palma left beheaded bodies strewn in the streets on Monday, with heavily armed rebels battling army, police and a private military outfit in several locations.

Thousands were estimated to be missing from the town, which held about 70,000 people before the attack began last Wednesday.

The Islamic State group claimed responsibility Monday for the attack, saying it was carried out by the Islamic State Central Africa Province, according to the SITE extremist monitoring group.

The rebel claim said the insurgents now control Palma’s banks, government offices, factories and army barracks, and that more than 55 people, including Mozambican army troops, Christians and foreigners were killed. It did not provide further detail on the dead.

E a r l i e r t h i s m o n t h t h e U n i te d St a te s declared Mozambique’s rebels to be a terrorist organization and announced it had sent military specialists to help train the Mozambican military to combat them.

Palma is the center of a multi-billion dollar investment by Total, the France-based oil and gas company, to extract liquefied natural gas from offshore sites in the Indian Ocean. The gas deposits are estimated to be among the world’s largest and the investment by Total and others is reported to be $20 billion, one of the largest in Africa.

The battle for Palma forced Total to evacuate its large, fortified site a few miles (kilometers) outside of the city.

The fighting spread across the town Monday, according to Lionel Dyck, director of the Dyck Advisory Group, a private military company contracted by the Mozambican police to help fight the rebels.

“There is fighting in the streets, in pockets across the town,” Dyck told The Associated Press. The Dyck group has several helicopter gunships in Palma, which have been used to rescue trapped civilians and to fight the rebels.

“My guys are airborne and they’ve engaged several little groups and they’ve engaged one quite large group,” Dyck said. “They’ve landed into the fight to recover a couple of wounded policemen.... We have also rescued many people who were trapped, 220 people at last count.”

He said those rescued were taken to Total’s fortified site on the southern African country’s Afungi peninsula, where chartered flights flew many south to Pemba, the capital of Cabo Delgado province.

The rebels are well-armed with AK-47 automatic rifles, RPD and PKM machine guns and heavy mortars, Dyck said.

“This attack is not a surprise. We’ve been expecting Palma to be whacked the moment the rains stopped and the fighting season started, which is now,” he said.

“They have been preparing for this. They’ve had enough time to get their ducks in a row.

They have a notch up in their ability. They’re more aggressive. They’re using their mortars.”

He said many were wearing black uniforms.

“There have been lots of beheadings. Right up on day one, our guys saw the drivers of trucks bringing rations to Palma. Their bodies were by the trucks. Their heads were off.”

D yc k s a i d i t w i l l n o t b e e a s y f o r t h e Mozambican government to regain control of Palma.

“They must get sufficient troops to sweep through the town, going house-to-house and clean each one out. That’s the most difficult phase of warfare in the book,” Dyck said. “It will be very difficult unless there’s a competent force put in place with good command and control to retake that town. It can be done. But it ain’t going to be easy.”

Without control of Palma, Total’s operations are jeopardized, analysts say.

The battle for Palma is similar to how the rebels seized the port Mocimboa da Praia in August. The rebels infiltrated men into the town to live among residents and then launched a three-pronged attack. Fighting continued for more than a week until the rebels controlled the town center and then its port. The town, about 50 miles south of Palma, is still held by the rebels.

UN spokesman Stephane Dujarric condemned the violence in Palma, which he said has repor tedly killed dozens of people, “including some tr ying to flee a hotel where they had taken shelter.”

He referred to those trapped at the Amarula Hotel who tried to escape in a convoy of 17 vehicles on Friday. Only seven vehicles made it to the beach, where seven people were killed.

Some in the other vehicles fled into the dense tropical jungle and were later rescued.

“We continue to coordinate closely with the authorities on the ground to provide assistance to those affected by the violence,” Dujarric said.

The battle for Palma is expected to drastically worsen the humanitarian crisis in Mozambique’s nor thern Cabo Delgado province, where the rebels star ted violent attacks in 2017. The insurgents began as a few bands of disaffected and unemployed young Muslim men. They now likely number in the thousands, according to experts.

“The attack on Palma is a game-changer in that the rebels have changed the narrative,” said one expert who returned from Palma earlier this month.

“This is no rag-tag bunch of disorganized youths. This is a trained and determined force that has captured and held one town and is now sustaining a battle for a very strategic center,” said the expert, who spoke on condition of anonymity because of the sensitivity of visiting Palma. “They have called into question the entire LNG [liquefied natural gas] investment which was supposed to bring Mozambique major economic growth over many years.” AP

In this March 19, file photo, medical staff meets in a room of a patient affected by Covid-19 in the ICU unit at the Ambroise Pare clinic in Neuilly-sur-Seine, near Paris. France’s president say he has nothing to be sorry about for refusing to impose a third virus lockdown earlier this year, even though his country is now facing surging infections that are straining hospitals and more than 1,000 people with the virus are dying every week. AP/Thibault Camus

of non-virus cases. While some nonessential surgeries are again being postponed, hospitals are still treating Covid and nonC o v i d e me r ge nc ie s , p ut t i n g some ICUs under intense and worsening pressure.

Wit h t he more cont ag ious, more ag g ressive v ir us va r i a nt f irst ident if ied in Br it a in now

dom ina nt in Fra nce, Ba l lout s a id , “ We’re se e i ng you nger a nd you nger pat ients, in t heir 40s and 50s but a lso younger... a nd a d if ference in t he v ir ulence.” T h at inc ludes people w it h no hea lt h problems, he sa id , who d id n’t t h i n k t he y were v u l nerable a nd l i kely to get hospit a l i zed. AP

BusinessMirror

A8 Wednesday, March 31, 2021

ESTABLISHMENT / ADDRESS NO.

FOREIGN NATIONAL / NATIONALITY

ESTABLISHMENT / ADDRESS POSITION

24/7 BUSINESS PROCESSING INC. 14/f Capella Bldg. L-3&4 B2, Asean Drive Filinvest Alabang Muntinlupa City 1.

DING, JICHAO Chinese

MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE

2.

FENG, ZHOUFU Chinese

MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE

3.

HUANG, YUNLONG Chinese

MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE

4.

LIN, QINGFA Chinese

MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE

5.

WANG, CHAOYANG Chinese

MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE

XIE, HONG Chinese

MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE

7.

YANG, HAIXIN Chinese

MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE

8.

ZHONG, CHONGTUAN Chinese

MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE

6.

8 STONE BUSINESS OUTSOURCING OPC 5th-10th/f Tower 3, Pitx #1 Kennedy Road Tambo Parañaque City 9.

KONG, DEBEI Chinese

CUSTOMER SERVICE REPRESENTATIVE

10.

LI, DAZHAO Chinese

CUSTOMER SERVICE REPRESENTATIVE

11.

LI, DATAO Chinese

CUSTOMER SERVICE REPRESENTATIVE

12.

TAN, ZHOUJU Chinese

CUSTOMER SERVICE REPRESENTATIVE

13.

YANG, RIYOU Chinese

CUSTOMER SERVICE REPRESENTATIVE

14.

ZHU, JING Chinese

CUSTOMER SERVICE REPRESENTATIVE

ACCENTURE, INC. 7f Robinsons Cybergate Tower 1 Pioneer St Mandaluyong City 15.

TANDIOY, JEAN MUSH Congolese

ANALYST COLLECTOR

ALTA RESOURCES (PHILIPPINES) CORPORATION 34th Floor Wynsum Corporate Plaza, F. Ortigas Jr. Road San Antonio Pasig City 16.

MANKAA, AKONGNWI Cameroonian

BILINGUAL CUSTOMER CARE REPRESENTATIVE - FRENCH

ALTECH INNOVATIONS BUSINESS OUTSOURCING 8th Floor Aseana One Building Aseana Business Park Bradco Avenue Baclaran Parañaque City 17.

ZHAO, YUHANG Chinese

MARKETING STAFF

ANOC99 CORPORATION 5/f Ayala Malls Manila Bay Building D. Macapagal Blvd. Cor. Aseana Street Tambo Parañaque City 18.

YUE, CUIPING Chinese

CHINESE CUSTOMER SPECIALIST

BIG EMPEROR TECHNOLOGY CORP. 5f-13f, Jiaxing Tower Building Aseana Avenue, Aseana Business Park Tambo Parañaque City 19.

CHONG JIA CHENG Malaysian

COMPUTER SYSTEM ANALYST

20.

LIN, YOU-KAI a.k.a. LIN, SHENG-MIN Chinese

MANDARIN CUSTOMER SERVICE

LING, HONGJUN Chinese

NO.

FOREIGN NATIONAL / NATIONALITY

ESTABLISHMENT / ADDRESS POSITION

127.

CHE YAR KU Myanmari

CHINESE CUSTOMER SERVICE

36.

YANG, GUIYING Chinese

MARKETING AND SALES AGENT

83.

TAO, MIN Chinese

CHINESE IT SUPPORT SPECIALIST

128.

CHEN, ZILONG Chinese

CHINESE CUSTOMER SERVICE

37.

YU, LIANG Chinese

MARKETING AND SALES AGENT

84.

TAO, JIAN Chinese

CHINESE IT SUPPORT SPECIALIST

129.

CHEN, ZUYI Chinese

CHINESE CUSTOMER SERVICE

FAREAST OUTSOURCE PROCESSING INC. 7th, 8th, 9th Flr. Nu Tower Moa Coral Way Brgy. 076 Pasay City

85.

TIAN, JIAN Chinese

CHINESE IT SUPPORT SPECIALIST

130.

CHEN, WENLONG Chinese

CHINESE CUSTOMER SERVICE

38.

CHEN, GUOZHU Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

86.

WAN, YUNXIANG Chinese

CHINESE IT SUPPORT SPECIALIST

131.

CHENG, GUOLIANG Chinese

CHINESE CUSTOMER SERVICE

39.

CHENG, WEIBIN Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

87.

WANG, XIMIN Chinese

CHINESE IT SUPPORT SPECIALIST

132.

DAI, XIN Chinese

CHINESE CUSTOMER SERVICE

40.

GAN, LIANGLIANG Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

88.

WU, SHANG Chinese

CHINESE IT SUPPORT SPECIALIST

133.

DICKSON NG KAH LOCK Malaysian

CHINESE CUSTOMER SERVICE

41.

HU, YIWEN Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

89.

YANG, YI Chinese

CHINESE IT SUPPORT SPECIALIST

134.

DING, YUANGUI Chinese

CHINESE CUSTOMER SERVICE

42.

LI, BO Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

90.

YU, QI Chinese

CHINESE IT SUPPORT SPECIALIST

135.

DING, MINGCONG Chinese

CHINESE CUSTOMER SERVICE

43.

LI, QILING Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

91.

ZENG, FANRONG Chinese

CHINESE IT SUPPORT SPECIALIST

136.

DING, YUANJIA Chinese

CHINESE CUSTOMER SERVICE

44.

LI, QIUXIANG Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

92.

ZHANG, XIAOYU Chinese

CHINESE IT SUPPORT SPECIALIST

137.

DO VAN TIEN Vietnamese

CHINESE CUSTOMER SERVICE

45.

LYU, HUIWU Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

93.

ZHANG, LINJIE Chinese

CHINESE IT SUPPORT SPECIALIST

138.

DU, QINGQING Chinese

CHINESE CUSTOMER SERVICE

46.

QU, MENGYAO Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

94.

ZHENG, JIEMING Chinese

CHINESE IT SUPPORT SPECIALIST

139.

DUAN, XIAOLONG Chinese

CHINESE CUSTOMER SERVICE

47.

WANG, HAO Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

95.

ZHONG, GAOLONG Chinese

CHINESE IT SUPPORT SPECIALIST

140.

ESMOND LIM TEIN SHINQ Malaysian

CHINESE CUSTOMER SERVICE

48.

WEI, XIANGUO Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

96.

ZHU, WENLONG Chinese

CHINESE IT SUPPORT SPECIALIST

141.

FAN, WEILIN Chinese

CHINESE CUSTOMER SERVICE

49.

WEI, YONGJIE Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

97.

ZHU, WENXIN Chinese

CHINESE IT SUPPORT SPECIALIST

142.

FAN, WEIGUO Chinese

CHINESE CUSTOMER SERVICE

50.

WEI, WANRANG Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

98.

GIANG NGOC YEN Vietnamese

IT SUPPORT SPECIALIST

143.

FENG, KAIYANG Chinese

CHINESE CUSTOMER SERVICE

51.

ZENG, MEITIAN Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

99.

LIEW KOK YOONG Malaysian

IT SUPPORT SPECIALIST

144.

FU, FANGJUN Chinese

CHINESE CUSTOMER SERVICE

52.

ZHANG, XIANGFEI Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

JDB MANAGEMENT AND CONSULTANCY CORP. 107 T & D House Magallanes St. 069, Bgy. 655 Intramuros Manila

145.

FU, MENGDI Chinese

CHINESE CUSTOMER SERVICE

53.

ZHENG, WANGFEI Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

100.

HUANG, YAN Chinese

STRATEGIC AND FACILITATION OFFICER

146.

GE, QIANGQIANG Chinese

CHINESE CUSTOMER SERVICE

101.

JIANG, PENG Chinese

STRATEGIC AND FACILITATION OFFICER

147.

GONG, JIAZHI Chinese

CHINESE CUSTOMER SERVICE

FAST PROCESSING DATA TECH INC. 747 N. Padilla St. 067 Bgy. 646 San Miguel Manila 54.

HU, CHENG Chinese

CHINESE CUSTOMER SERVICE

102.

LI, MIN Chinese

STRATEGIC AND FACILITATION OFFICER

148.

GUNAWAN CIANG Indonesian

CHINESE CUSTOMER SERVICE

55.

TONG, YING Chinese

CHINESE CUSTOMER SERVICE

103.

MAO, CAISHUANG Chinese

STRATEGIC AND FACILITATION OFFICER

149.

HAN, BO Chinese

CHINESE CUSTOMER SERVICE

56.

YE, LIANLONG Chinese

CHINESE CUSTOMER SERVICE

104.

RONG, KANGJIAN Chinese

STRATEGIC AND FACILITATION OFFICER

150.

HAN, ZHENYUN Chinese

CHINESE CUSTOMER SERVICE

57.

YIN, XIONGFEI Chinese

CHINESE CUSTOMER SERVICE

105.

WANG, JIE Chinese

STRATEGIC AND FACILITATION OFFICER

151.

HONG VEN JIN Malaysian

CHINESE CUSTOMER SERVICE

58.

HAN, MEIPING Chinese

CHINESE SALES REPRESENTATIVE

106.

ZANG, XIAOXUE Chinese

STRATEGIC AND FACILITATION OFFICER

152.

HTET MYAT AUNG Myanmari

CHINESE CUSTOMER SERVICE

59.

JIN, LIANGXING Chinese

CHINESE SALES REPRESENTATIVE

107.

ZHU, YANHUI Chinese

STRATEGIC AND FACILITATION OFFICER

153.

HU, QIONG Chinese

CHINESE CUSTOMER SERVICE

60.

PIAO, CHENGLONG Chinese

CHINESE SALES REPRESENTATIVE

154.

HUANG, BAOYAN Chinese

CHINESE CUSTOMER SERVICE

61.

WU, QIU Chinese

CHINESE SALES REPRESENTATIVE

155.

HUANG, ZHAOZHI Chinese

CHINESE CUSTOMER SERVICE

156.

HUANG, WEI Chinese

CHINESE CUSTOMER SERVICE

157.

JIANG, WENJUAN Chinese

CHINESE CUSTOMER SERVICE

158.

JIAO, YOUKE Chinese

CHINESE CUSTOMER SERVICE

159.

LEI, WANRONG Chinese

CHINESE CUSTOMER SERVICE

160.

LI, GENGYUN Chinese

CHINESE CUSTOMER SERVICE

161.

LI, ZHIPING Chinese

CHINESE CUSTOMER SERVICE

162.

LI, JIANCHENG Chinese

CHINESE CUSTOMER SERVICE

163.

LI, JIANHUI Chinese

CHINESE CUSTOMER SERVICE

164.

LIU, HUA Chinese

CHINESE CUSTOMER SERVICE

165.

LIU, ZONGXIN Chinese

CHINESE CUSTOMER SERVICE

166.

LIU, YUNNAN Chinese

CHINESE CUSTOMER SERVICE

167.

LIU, TENGFEI Chinese

CHINESE CUSTOMER SERVICE

168.

LIU, YU Chinese

CHINESE CUSTOMER SERVICE

169.

LIU, JINYU Chinese

CHINESE CUSTOMER SERVICE

170.

LU JEN YAW Malaysian

CHINESE CUSTOMER SERVICE

171.

LUO, ZHIYONG Chinese

CHINESE CUSTOMER SERVICE

172.

LUO, LE Chinese

CHINESE CUSTOMER SERVICE

173.

LYU, DONGXU Chinese

CHINESE CUSTOMER SERVICE

174.

MAO, YUELEI Chinese

CHINESE CUSTOMER SERVICE

175.

NAING WIN TUN Myanmari

CHINESE CUSTOMER SERVICE

176.

NAY MYO OO Myanmari

CHINESE CUSTOMER SERVICE

177.

NGUYEN VAN NGOAN Vietnamese

CHINESE CUSTOMER SERVICE

GATEWAYSOLUTIONS CORP. 8/f Edsa Cor. Sultan Brgy. Highway Hills Mandaluyong City

MANDARIN CUSTOMER SERVICE

64.

SHANG, JIANG Chinese

CUSTOMER SERVICE REPRESENTATIVE

XIONG, XIAOKAI Chinese

MANDARIN CUSTOMER SERVICE

65.

SUN, GUOQING Chinese

CUSTOMER SERVICE REPRESENTATIVE

YAN, SHIHAO Chinese

MANDARIN CUSTOMER SERVICE

66.

24.

HAO, ZEDU Chinese

MANDARIN LANGUAGE SPECIALIST

25.

SHI, YANMEI Chinese

MANDARIN LANGUAGE SPECIALIST

ZHU, HONGXU Chinese

MANDARIN LANGUAGE SPECIALIST

NI, ZUHANG Chinese

CHINESE- FIELD SALES CONSLTANT

28.

LI, HONGLI Chinese

CHINESE-BOOTH FABRICATION SPECIALIST CONSULTANT

CAPSLOCK INC. 7th & 8th Flr. Y Tower Bldg. Coral Way Drive Cor. Macapagal Brgy.

076 Pasay City 29.

REN, YUANHAO Chinese

CHINESE IT SUPPORT SPECIALIST

COGNIZANT TECHNOLOGY SOLUTIONS PHILIPPINES, INC. 5th And 6th Floors, 8/10 Upper Mckinley Building Mckinley Hill Cyberpark Fort Bonifacio Taguig City 30.

WONG, WING YI Chinese

SENIOR PROCESS EXECUTIVE

COSMOLINK GLOBAL SOLUTIONS INC. Flr. No. 6th, 7th & 8th Bldg. No. 100 Necc Bldg., Andrews Ave. St. Newport City Subd. District 1, Barangay 183 Pasay City 31.

CHEN, HAO Chinese

CUSTOMER SERVICE REPRESENTATIVE

DSV AIR & SEA, INC. 2a Johanne St., Bo. Ibayo Sto. Nino Parañaque City 32.

NIELSEN, KASPER Danish

MANAGING DIRECTOR, AIR & SEA, PHILIPPINES

EASTERN GOLD CORPORATION 503 Nueva St Binondo Manila

POSITION

CHINESE IT SUPPORT SPECIALIST

CUSTOMER SERVICE REPRESENTATIVE

27.

FOREIGN NATIONAL / NATIONALITY

TAN, MENG Chinese

HONG, LINA Chinese

C’EST LA VIE EVENT MANAGEMENT INC. 230 Narra Street Marikina Heights Marikina City

NO.

82.

63.

26.

POSITION

MARKETING AND SALES AGENT

62.

23.

FOREIGN NATIONAL / NATIONALITY

WANG, SHUMING Chinese

CUSTOMER SERVICE REPRESENTATIVE

22.

NO.

ESTABLISHMENT / ADDRESS

35.

HONG, MINGYUE Chinese

21.

www.businessmirror.com.ph

WU, ZUNSHENG Chinese

CUSTOMER SERVICE REPRESENTATIVE

HUAWEI TECHNOLOGIES PHILS. INC. U-5302, 53/f Pbcom Tower 6795 Ayala Ave., Cor., V.a. Rufino St. Bel-air Makati City 67.

PU, HAITAO Chinese

SENIOR PRODUCT MANAGER FOR GLOBE AND PLDT TARGET NETWORK PLANNING PROJECT

ITECHNO SPECIALIST INC. U-608 Eastfield Ctr. Moa Comp. Macapagal Ave. Brgy. 076 Pasay City 68.

CHEN, WENRU Chinese

CHINESE IT SUPPORT SPECIALIST

69.

CHEN, ZHENSONG Chinese

CHINESE IT SUPPORT SPECIALIST

70.

CHENG, MINYI Chinese

CHINESE IT SUPPORT SPECIALIST

71.

DING, DONG Chinese

CHINESE IT SUPPORT SPECIALIST

72.

GAO, GUANGHUI Chinese

CHINESE IT SUPPORT SPECIALIST

73.

HUANG, XIANGLONG Chinese

CHINESE IT SUPPORT SPECIALIST

74.

LI, LIGUO Chinese

CHINESE IT SUPPORT SPECIALIST

75.

LI, XIAOYING Chinese

CHINESE IT SUPPORT SPECIALIST

76.

LIN, JIANLONG Chinese

CHINESE IT SUPPORT SPECIALIST

77.

LING, ZHI Chinese

CHINESE IT SUPPORT SPECIALIST

78.

LIU, XINYUN Chinese

CHINESE IT SUPPORT SPECIALIST

79.

LUO, SHUAI Chinese

CHINESE IT SUPPORT SPECIALIST

MEGA-WEB TECHNOLOGIES INC. 6,7,8,9,10,11/f Met Live Bldg. Edsa Cor. Macapagal Blvd. Brgy. 076 Pasay City 108.

AYE HTET SAN Myanmari

BURMESE SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

109.

CHAI, XINYUAN Chinese

MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

110.

CHENG, ZHENDA Chinese

MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

111.

DING, JIAN Chinese

MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

112.

FENG, JI Chinese

MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

113.

LIN, ZHIMIN Chinese

MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

114.

LYU, ZHEN Chinese

MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

115.

SHI, ZHIZHONG Chinese

MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

116.

WAN, LIHUA Chinese

MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

117.

XIANG, HAN Chinese

MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

118.

XIONG, YUYING Chinese

MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

119.

YANG, CHENGBIN Chinese

MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

120.

YANG, CHANG Chinese

MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

121.

YU, FENGXIU Chinese

MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

ZENG, JIA Chinese

MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

122.

MOA CLOUDZONE CORP. 4th-11th Flr. Nexgen Tower C4 Rd. Edsa Ext. Brgy. 076 Pasay City 123.

AUNG MOE LWIN Myanmari

CHINESE CUSTOMER SERVICE

178.

NIU, JINYANG Chinese

CHINESE CUSTOMER SERVICE

124.

BAI, XIANGYANG Chinese

CHINESE CUSTOMER SERVICE

179.

QIN, XIUHUA Chinese

CHINESE CUSTOMER SERVICE

180.

SAI LAO SENG Myanmari

CHINESE CUSTOMER SERVICE

181.

SHAO, YACHAO Chinese

CHINESE CUSTOMER SERVICE

33.

HONG, XIAOMEI Chinese

MARKETING AND SALES AGENT

80.

MA, YINGQIANG Chinese

CHINESE IT SUPPORT SPECIALIST

125.

CAI, HUALONG Chinese

CHINESE CUSTOMER SERVICE

34.

LI, CHUNYAN Chinese

MARKETING AND SALES AGENT

81.

REN, YUANJIE Chinese

CHINESE IT SUPPORT SPECIALIST

126.

CHE, XINDA Chinese

CHINESE CUSTOMER SERVICE

www.businessmirror.com.ph

News

BusinessMirror Wednesday, March 31, 2021

A9

PHL preps next move to join trans-Pacific trade deal CPTPP

By Tyrone Jasper C. Piad

T

@Tyronepiad

HE Philippines is keen on engaging with the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) members after expressing intent to join the regional trade pact.

Trade Undersecretary Ceferino Rodolfo told reporters in a recent interview that the Department of Trade and Industry (DTI) is reaching out to CPTPP members to discuss requests on market access as Manila aims to be part of another mega trade deal. The Trade official explained that the market access schedule differs in each country.

CPTPP is a free trade agreement (FTA) among Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, Peru, New Zealand, Singapore and Vietnam. It was signed on March 8, 2018 in Santiago, Chile.

“Yes, we have written to New Zealand,” he said, referring to Manila’s February letter expressing interest in joining the trade pact.

“The next step is to engage both the members of CPTPP that are currently partners already of the Philippines by way of other FTAs and those where Philippines does not have any FTA.” Rodolfo identified five target export products the DTI would like to secure in the deal: automotive parts, garments, agricultural commodities, processed

agricultural products and plantbased meat alternatives, and electronics.

He said Manila stands to benefit from securing zero duty for wiring harness, as tariff is still imposed for such shipments to Mexico and Canada. The DTI aims to include garment exports to the FTA as well because these products are usually “highly protected,” Rodolfo added.

As for agricultural commodities, there could be challenges in shipping the fresh produce to countries like Chile, Peru and Mexico, he said.

This is why he said processed agricultural products, like canned tuna and sardines, may be the most viable when it comes to immediate shipments. There is also growing interest in plant-based meat alternatives that are not “time-sensitive” when it comes to logistics, said Rodolfo, who is also the Board of Investments (BOI) managing head.

While electronics get zero duty, Rodolfo said these products are still among the priorities to expand the global chain network of the local industry.

The BOI official sees no hitch in discussions with Vietnam, Singapore, Malaysia and Brunei, as the Philippines already has FTA with them under the Asean Free Trade Agreement. It is just sseking their full backing as it attempts to join CPTPP, he added.

Rodolfo said it is “critical” for the Philippines to engage with the CPTPP members that are not yet FTA partners of the country, including Peru, Mexico, Canada and Chile.

The Philippines expressed its intent to be part of the trade deal after concluding the Regional Comprehensive Economic Partnership (RCEP).

RCEP was signed by 10 Asean member states and five Asean FTA partners, including Australia, China, Japan, Korea and New Zealand in November last year. India did not sign, however, due to unresolved trade concerns but the FTA is still open for its accession.

One of the world’s biggest economic deals, RCEP covers roughly a third of the global gross domestic products and international trade.

Philippine Statistics Authority data shows the country’s export revenues fell by 10.1 percent to $63.77 billion last year from $70.93 billion in 2019. The Philippines’s imports, meanwhile, amounted to $85.61 billion in 2020, which is 23.3 percent lower than $111.59 billion yearon-year.

DOLE reminds employers on holiday pay

E

MPLOYERS were reminded by Department of Labor and Employment (DOLE) to heed pay rules for Holy Week.

Based on Labor Advisory No. 4 signed

by Labor Secretary Silvestre Bello, pay rules must be followed on April (Maundy Thursday) and April 2 (Good Friday), both declared as regular holidays, as well as for April 3 (Black Saturday), a special nonworking day.

However, Bello pointed out that establishments that are totally closed or have ceased operation during the community quarantine period are “exempted from the payment of holiday pay” on these dates.

For Maundy Thursday and Good Friday, an employee who did not work on these days shall still be paid 100 percent of his

PHL economy. . .

These sectors include health, education, and technological upgrading. Sachs said children must be able to stay in school, receive quality education, and be healthy enough to complete their studies.

The third investment in technology means “a green, digital, and sustainable recovery and growth.”

Sachs said this will enable all sectors of the economy to depend on “universal digital access.”

These investments will lead to the use of artificial intelligence; advanced robotics; remote sensing; and other technologies. Sachs said this “will play a fundamental role in ensuring competitiveness of economies.”

Investing in technology, Sachs said, should also include those that will allow countries to deal with climate change, not just for years, but also decades, after the pandemic.

“This is already upon us, every day, every week, every month, and every year. We’re going to have climate challenges all over the world until we make the decisive steps to reach net zero emissions

daily wage.

If the employee worked on these days, he shall be paid double his daily salary for the first eight hours.

Work done in excess of eight hours or overtime work on these days merits an additional 30 percent of one’s hourly rate.

If work done during a regular holiday falls on the worker’s rest day, he shall be paid an additional 30 percent of his basic wage of 200 percent.

For work done beyond eight hours during a regular holiday, the employee shall be paid 30 percent on top of his hourly rate.

For Black Saturday, the “no work, no pay” principle applies unless there is a company policy, practice or collective

Continued from A12

and climate neutrality and to do that by mid-century,” Sachs said.

On average, developing AsiaPacific economies are expected to grow by 5.9 percent in 2021 and 5 percent in 2022, after having experienced an estimated contraction of a percent in 2020.

Despite a reasonably strong rebound expected in 2021, a “Kshaped recovery” is likely, with poorer countries and more vulnerable groups marginalized in the post-pandemic recovery and transition period.

“Covid-19 is a shock like no other and it requires a response like no other,” said Ms. Armida Salsiah Alisjahbana, United Nations Under-Secretary-General and Executive Secretary of Escap. “The time is now for the Asia-Pacific region to seize this opportunity to speed up and make its transition towards more resilient, equitable, and green development the centerpiece of the post-pandemic economic recovery.”

The Survey estimates that because of the pandemic, an additional 89 million people in the

bargaining agreement granting payment on a special day.

For work done on this special day, a worker shall be paid 30 percent more on top of his basic wage for the first eight hours of work.

Work done beyond eight hours merits an additional 30 percent of his hourly rate on said day.

For work done on a special day that also falls on one’s rest day, he shall be paid an additional 50 percent of his basic wage on the first eight hours of work.

In case of work done beyond eight hours during a special day that also falls on his rest day, he shall be paid an additional 30 percent of his hourly rate on said day.

Bernadette D. Nicolas

region could have been pushed back into extreme poverty in 2020 at the $1.90 per day threshold, erasing years of progress in poverty reduction.

Working-hour losses in 2020 equaled 140 million full-time jobs, while severe disruptions of economic activity and education are likely to have caused a significant setback to human capital accumulation and productivity in the region.

For a more robust and inclusive recovery, the Survey calls for a more synchronized Covid-19 vaccination program across countries and highlights opportunities to leverage regional cooperation. At the same time, it recommends that fiscal and monetary support should be sustained, as premature tightening could increase long-term scars.

The Survey also recommends that countries in the region respond aggressively to adverse shocks to minimize the reversal of hard-won development gains.

Swift and robust policy responses are needed to safeguard sustainable development in crisis times, and risk management must become central to development planning and policymaking.

A10 Wednesday, March 31, 2021 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Cutting PHL reliance on imported products

A

trade bottleneck caused by the Covid-19 pandemic is now beginning to affect food-importing countries such as the Philippines (See, “Food shortage seen on global supply woes,” in the BusinessMirror, March 26, 2021). Players in the local logistics industry have sounded the alarm that shipping costs are going up as major exporting and importing countries grapple with a container crisis, lack of vessels, and congestion at transshipment ports. Exporters are bearing the brunt of the crisis as the delays in their outbound shipments could stretch to three months.

Industries that rely heavily on foreign countries for their raw materials, such as meat processing, would suffer the brunt of these delays. According to the Philippine Association of Meat Processors Inc., shipping delays exacerbated the supply woes their members are facing (See, “Meat processors file price-hike bids with DTI,” in the BusinessMirror, March 29, 2021). This has prompted local meat processors to file for a petition to increase the prices of their products, which have become more popular in recent months as pork and chicken have become more expensive.

The trade bottleneck is also threatening to foil the bid of the Philippines to import pork to plug the domestic supply shortfall, which was caused by the outbreak of African swine fever (ASF) (See, “3-month shipment delays negate bid to hike meat imports,” in the BusinessMirror, March 30, 2021). Shipments from Europe and the United States, which are major pork sources of the Philippines, are being delayed by a month due to the lack of containers and vessels.

This development, coupled with the uncertainty over the reduction in pork tariffs, could make it more difficult for the country to flood the market with imports to ease the pressure on pork prices.

While this development is causing apprehension among importers, local producers welcome the news that some manufacturers have started procuring raw materials locally. The trade bottleneck has opened up opportunities that should be seized and capitalized by local producers and the government. This is the best time for concerned government agencies to look at the market and determine the products that have become more in demand and to further develop these industries.

Government should step up efforts to develop local industries and the agriculture sector, given the projection of experts that Covid-19 is not the last pandemic that the world will see. Investments must now be made to “future-proof” the Philippines and safeguard its food sources to cushion the adverse impact of developments in the international front, such as a trade bottleneck, on domestic food supply.

Resources must be allocated to strengthen the country’s borders and to put up the necessary facilities that will allow the Philippines to reduce its reliance on imported food products.

We hope that the budget proposal of the administration for 2022 would include more investments in critical sectors such as agriculture. For one, the local livestock sector is not out of the woods yet and stakeholders need all the help they can get to eliminate ASF. Hiking investments in research and development is also crucial if policy-makers are truly intent on ensuring the country’s food security.

Since 2005

BusinessMirror A broader look at today’s business ✝ Ambassador Antonio L. Cabangon Chua Founder Publisher Editor in Chief Associate Editor News Editor

T. Anthony C. Cabangon Lourdes M. Fernandez Jennifer A. Ng Vittorio V. Vitug

Senior Editors

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

Online Editor

Ruben M. Cruz Jr.

Creative Director Chief Photographer Chairman of the Board Ombudsman President Advertising Sales Manager Group Circulation Manager

Eduardo A. Davad Nonilon G. Reyes D. Edgard A. Cabangon Judge Pedro T. Santiago (Ret.) Benjamin V. Ramos Aldwin Maralit Tolosa Rolando M. Manangan

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

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

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

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

www.businessmirror.com.ph

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

SSS pensioners embrace modern technology Aurora C. Ignacio

All About Social Security

A

merican feminist and writer Betty Friedan once said: “Aging is not lost youth but a new stage of opportunity and strength.”

Her quote is very timely as the focus of today’s column is the 2.8 million SSS pensioners. Gone are the days when we had to travel and physically visit an office just to talk to a customer or sales representative.

These days, almost all transactions can be conducted online. A simple click here and another there allow us to transact right in the comfort of our homes. But this poses a problem for our elderly, especially our pensioners who are not technologically inclined.

I truly believe that senior citizens should not be stuck to the old ways. As we age, we should embrace the new norm and eventually retool ourselves to keep up with technology. I know some colleagues and acquaintances who just recently created their social-media accounts so they can be updated with the current news and touch base with friends, even those who are based overseas.

A close friend of mine even told me that having a social-media account is quite entertaining, especially now that senior citizens are not allowed to go out.

SSS is one of the government agencies that first welcomed the idea of digitalization back in the 1980s when computers were initially introduced in the workplace environment. Our official SSS web site, www. sss.gov.ph, was launched in 1998 and was initially used for viewing general information and accessing personal data. In 2011, updates were implemented so members can also conduct transactions online. Several upgrades have been made since then to make SSS processes faster, simpler, and more convenient to our members and pensioners.

While there are about 10.8 million registered online users of the my.SSS portal—mostly paying members, who are saving up for future contingencies—we want our pensioners to be a major part of our digital network. At present, there are only 20 percent senior citizens who are registered online.

We would also want them to create their own social-media accounts, as we are maximizing the usage of our official pages in Facebook, Instagram, Twitter, Viber and even You-

Tube where they can find the latest information about SSS. For our pensioners to receive important updates and advisories about SSS programs and services, especially if it concerns their monthly pension, it is advisable to update their mobile numbers as well as their e-mail address. All these may be done through the My.SSS account on the SSS web site. Just log in and click “Update Contact Info” under the Member Info tab and choose the information you wish to update and supply the correct details, then click the “Next” button.

Make sure that all information provided are correct and valid before you click the “Submit” button. The screen will show your Transaction Number, date and time of the transaction, and the PDF copy of the “Online Data Change Request.” You will receive an e-mail notification in your registered e-mail address.

Their online accounts may also be accessed using the SSS Mobile App. Just log in using the User ID and password of your My.SSS account.

Tap the “My Information,” “Update Information” and “Contact Details.”

For pensioners who have yet to set up their own My.SSS account, simply visit our web site (www.sss. gov.ph), click “I am not a robot,” and click on the images required on the screen. Select Member Login tab on the homepage and click the “Not yet registered in My.SSS?” Carefully read the web registration reminders and check the certification, if understood.

Then click “Proceed.” Supply the information needed on the “Online Member ID Registration,” and accept the Terms of Services. Click “Submit.” You

A Filipina’s tale of Mt. Everest, the seven summits and the Balangay Dennis Gorecho

Pinoy Marino Rights

T

ake the risk: “The danger of an adventure is worth a thousand days of ease and comfort,” says writer Paulo Coelho.

Philippine Coast Guard’s Carina Dayondon agrees in relation to her journey as the first Filipina to finish the task of climbing the Seven Summits, or the seven highest mountains in seven continents, including Mount Everest.

Carina narrated during her recent guesting in our online show Amigos Marino her 14-year endeavor to summit the world’s tallest mountains that started in 2004 when she was invited to join the Everest Team.

Her amazing report card for the seven summits started with Mt. Denali (6,190 meters) in North America in 2006, followed by Mt. Everest

(8,850 meters) in Asia in 2007, Mt. Elbrus (5,642 meters) in Europe in 2013, Mt. Kosciuszko (2,228 meters) in Australia in 2014, Mt. Kilimanjaro (5,895 meters) in Africa in 2015, Mt. Aconcagua (6,962 meters) in South America in 2018, and finally Mt. Vinson Massif (4,892 meters) in Antarctica in 2018.

Along with two other Filipinas, Carina’s team was the first South-

east Asian women team to climb Everest and first to scale Everest in traverse. Instead of the usual route, they ascended via Tibet and went down through Nepal.

Being an outdoor person myself, I can relate to her experiences in mountaineering that entails a lot of mental, physical and financial preparations, though I only scaled local mountains like Pulag, GuitingGuiting, and Banahaw, and portion of Mount Fuji, among others.

Each mountain has its own set of challenges.

Alpine mountains, in particular, were unfamiliar to the typical Filipino body temperature with hazards including inclement weather conditions like extreme cold, dangerous terrain, hidden crevices, extreme heights, altitude sickness while enduring thin air, daily avalanches, loss of appetite, mental disturbances and disorientation.

Sports and outdoor activities, including climbing, were already a part of Carina’s life as she grew up

will receive an e-mail containing the activation link. Just click the activation link and supply the last 6 digits of your CRN or SS Number to assign your password and access the My.SSS account. Better write these details in a notebook for easy recall.

For survivor pensioners, contact information may be updated by submitting a Pensioner’s Data Change Request Form to the corporate e-mail address of the nearest SSS branch.

The form can be downloaded from the official web site.

I understand that for some pensioners, accessing information online can be quite challenging. They can, however, ask assistance from their grandson or granddaughter or trusted relative to help them navigate online. We have made our web site and mobile app interface userfriendly, so familiarizing yourself won’t take that long. Do remember that accessing your account and updating information online not only saves you the effort of having to go to the nearest branch and queuing time. It also empowers you to monitor your records and make changes at the comfort of your own homes.

Pretty soon, you can create a Facebook account on your own. This only means you’re now connected to the exciting and stimulating digital universe.

Welcome aboard and keep safe everyone!

Aurora C. Ignacio is SSS president and chief executive officer.

We welcome your questions and insights on the topics that we discuss. E-mail mediaaffairs@sss. gov.ph for topics that you might want us to discuss.

in the sleepy mountainous town of Don Carlos in Bukidnon, the fourth eldest of 14 children.

She has one principle: treat nature with reverence and do not be overconfident by recognizing the limitations.

If one’s body or the weather will not permit it, then better back out of a summit attempt.

“It’s not just mountains. It’s even the sea. You submit to it. If the mountain will not allow you up, then you wait. There’s always another time to go up,” Carina said in an interview.

What is more important, Carina added, is they showed to the Filipinas, the young ones, there’s nothing impossible if one is determined, focused, and if she believes in her dreams.

The sea is also part of Carina’s life as one of the focal person behind Diwata ng Lahi (spirit of lineage), the very first balangay boat replica.

The Balangay is a boat built by See “Gorecho,” A10

Opinion BusinessMirror

www.businessmirror.com.ph

WHO report: Covid likely first jumped into humans from animals

Learning crisis is real: Unite to solve it now Dr. Carl E. Balita

Entrepreneurs’ Footprints

By Jamey Keaten & Ken Moritsugu | Associated Press

G

ENEVA—A joint World Health Organization-China study on the origins of Covid-19 says that transmission of the virus from bats to humans through another animal is the most likely scenario and that a lab leak is “extremely unlikely,” according to a draft copy obtained by The Associated Press.

The findings offer little new insight into how the virus first emerged and leave many questions unanswered. But the report does provide more detail on the reasoning behind the researchers’ conclusions.

The team proposed further research in every area except the lab leak hypothesis—a speculative theory that was promoted by former US President Donald Trump among others. It also said the role played by a seafood market where human cases were first identified was uncertain.

Dr. Anthony Fauci, the top US infectious diseases expert, said he would like to see the report’s raw information first before deciding about its credibility.

“I’d also would like to inquire as to the extent in which the people who were on that group had access directly to the data that they would need to make a determination,” he said. “I want to read the report first and then get a feel for what they really had access to—or did not have access to.”

The report, which is expected to be made public on Tuesday, is being closely watched since discovering the origins of the virus could help scientists prevent future pandemics—but it’s also extremely sensitive since China bristles at any suggestion that it is to blame for the current one.

White House press secretary Jen Psaki said experts from seven different US government organizations including the Centers for Disease Control and Prevention, the National Institute of Health and the Department of Homeland Security had the report in hand.

“Seventeen experts, longstanding leaders from the field, including epidemiology, public health, clinical medicine, veterinary medicine, infectious disease, law, food security, biosafety, biosecurity -- we have a lot of experts in government -- will be reviewing this report intensively and quickly,” she said at a daily briefing.

Matthew Kavanagh of Georgetown University said the report deepened the understanding of the virus’s origins, but more information was needed.

“It is clear that that the Chinese government has not provided all the data needed and, until they do, firmer conclusions will be difficult,” he said in a statement.

Last year, an AP investigation found the Chinese government was strictly controlling all research into its origins. And repeated delays in the report’s release have raised questions about whether the Chinese side was trying to skew its conclusions.

“We’ve got real concerns about the methodology and the process that went into that report, including the fact that the government in Beijing apparently helped to write it,” US Secretary of State Antony Blinken said in a recent CNN interview.

China rejected that criticism on Monday.

“The US has been speaking out on the report. By doing this, isn’t the US trying to exert political pressure on the members of the WHO expert group?” asked Foreign Ministry spokesperson Zhao Lijian.

Still, suspicion of China has helped fuel the theory that the virus escaped from a lab in Wuhan, the Chinese city where the virus was first identified. The report cited several reasons for all but dismissing that possibility.

It said that such laboratory accidents are rare, that the labs in Wuhan were well-managed and there is no record of viruses closely related to the coronavirus in any laboratory before December 2019.

The report is based largely on a visit by a WHO team of international experts to Wuhan. The mission was never meant to identify the

exact natural source of the virus, an endeavor that typically takes years.

For instance, more than 40 years of study has still failed to pinpoint the exact species of bat that are the natural reservoir of Ebola.

In the draft obtained by the AP, the researchers listed four scenarios in order of likelihood for the emergence of the new coronavirus. Topping the list was transmission from bats through another animal, which they said was likely to very likely.

They evaluated direct spread from bats to humans as likely, and said that spread to humans from the packaging of “cold-chain” food products was possible but not likely.

That last possibility was previously dismissed by the WHO and the US Centers for Disease Control and Prevention but researchers on this mission have taken it up again, further raising questions about the politicization of the study since China has long pushed the theory.

While it’s possible an infected animal contaminated packaging that was then brought to Wuhan and infected humans, the report said the probability is very low.

Mark Woolhouse, an epidemiologist at the University of Edinburgh, said even that “very low probability” was an overstatement. “There’s no compelling evidence of people actually being infected through packaging,” he said, calling the theory “far-fetched.”

Woolhouse said it was possible the source of Covid-19 might never be identified.

“The emergence of a new [disease] is always a sequence of unlikely events,” he said. “It’s hard to be definitive and rule anything out.” But he said most scientists agree that bats are the most likely source.

Bats are known to carry coronaviruses and, in fact, the closest relative of the virus that causes Covid-19 has been found in bats.

The report said highly similar viruses have been found in pangolins, a scaly anteater prized in traditional Chinese medicine, but scientists have yet to identify the same coronavirus in animals that has been infecting humans.

The AP received the draft copy on Monday from a Geneva-based diplomat from a WHO-member country.

It wasn’t clear whether the report might still be changed prior to release, though the diplomat said it was the final version. A second diplomat confirmed getting the report too.

Both refused to be identified because they were not authorized to release it ahead of publication.

WHO Director-General Tedros Adhanom Ghebreyesus acknowledged he had received the report over the weekend and said it would be formally presented on Tuesday.

“All hypotheses are on the table and warrant complete and further studies,” he said at a news conference.

The report is inconclusive on whether the outbreak started at a Wuhan seafood market that had one of the earliest clusters of human cases in December 2019. Research published last year in the journal Lancet suggested the market may have merely served to further spread the disease rather than being its source.

The market was an early suspect because some stalls sold a range of unusual animals—and some wondered if they had brought the new virus to Wuhan. The report noted that animal products—including everything from bamboo rats to deer, often frozen—were sold at the market, as were live crocodiles.

Ken Moritsugu reported from Beijing. Associated Press writers Maria Cheng in London, Victoria Milko in Jakarta, Indonesia, Zeke Miller in Washington, and Frank Jordans in Berlin, contributed to this report.

Wednesday, March 31, 2021 A11

O

n October 21, 2020, this writer published an article, Why Business Sector Should Push for EdCom 4.0. Here are the highlights of that paper—but the full article can still be searched in the BusinessMirror web site: https://businessmirror. com.ph/2020/10/21/why-business-sector-should-push-for-edcom-4-0/ The 1987 Constitution states that the state shall “give priority to education” and “promote total human liberation and development.”

The constitution provides for the integrated system of and relevant education, free public basic education, and compulsory for all school age children. It mandates that “The State shall protect and promote the right of all citizens to quality education at all levels and shall take appropriate steps to make such education accessible to all.” It provides that “the State shall assign the highest budgetary priority to education.”

From the proposed 2021 national budget of P4.506 trillion, the education sector gets the highest allocation at P754.4 billion (16.74 percent of the total budget), which is 8.8 percent higher than the P650.2 billion allocation for 2020.

The P47.12 billion is set aside for the Universal Access to Quality Tertiary Education and another P27.99 billion will serve as education assistance and subsidies for students.

Other programs with allocated funding in the education sector include the DepEd’s computerization program, the school-based feeding program, and the Alternative Learning System.

In 1990 the Congressional Commission on Education was created.

The 14 summarized findings included those that were most significant to business and industry, which were the manpower mismatch and irrelevance of education. The EdCom recommendations led to major education reforms. The Enhanced Basic Education Act gave birth to the K-12 curriculum only in 2013.

In 2018, the Organization for Economic Cooperation and Development (OECD) conducted the Program for International Student Assessment (PISA). Fifteen-year-old students in the Philippines scored lower in reading, mathematics and

science than those in most of the countries and economies that participated. Over 80 percent of students in the Philippines did not reach a minimum level of proficiency in reading.

Out of the 79 countries, the Philippines ranked 78th in reading and 77th in science and in mathematics.

The expenditure per student in the Philippines was the lowest among all PISA-participating countries/ economies—and 90 percent lower than the OECD average.

The Louder Voice of Business

On March 29, 2021, the Philippine Business for Education initiated a Joint Membership Meeting of the eight of the biggest business organizations in the country, including the Employers Confederation of the Philippines, IT and Business Process Association of the Philippines, Financial Executives Institute of the Philippines, Makati Business Club, Management Association of the Philippines, PBEd, Philippine Business for Social Progress, and the Philippine Chamber of Commerce and Industry.

PBEd Chairman Ramon del Rosario, Jr. warned that the growth trajectory of our nation is being threatened by the learning crisis. He asked three questions, namely, Will our work force have the skills they need to keep up with the changing business landscape? Will our industries thrive on the back of our future work force? He warns further that if we do nothing to arrest the decline in our education system, the answer to these questions is a resounding no.

PBEd Executive Director Love Basillote stated that it’s not unreasonable to say that if future members of the work force are not receiving the proper education right now, they are not getting the skills they need to secure employment in the future.

She concluded that businesses simply cannot be competitive if they lack the skilled work force that will help

The conclusion is that unless we come up with something urgent and comprehensive, we are throwing away the future of an entire generation of Filipino learners. And the business sector wouldn’t want, in the future, to look back with regret and frustration at the footprints they leave.

Action has to be made now.

them thrive.

In an evidence-based PBEd opening video, the major issues were cited including the access to education which remains an issue, as well as quality of education—with 2.7 million learners who were not enrolled this school year and millions of students being left behind. The video also showed that the country is not putting enough resources on education with pre-primary education being the shortest in Southeast Asia.

Bro. Armin A. Luistro’s keynote presentation slides opened up with the statement that “the learning crisis is big, multi-faceted, multiplayer and multi-generational.” The former Education Secretary cited the “double shock” of school closure and economic recession that may result in precipitous fall in learning around the world, particularly in low and lower-middle income countries.

He proposed five lessons and insights, namely, Social Equity, Nutrition, Budget, Curriculum and School Management.

Related to the issue of Social Equity, the DepEd data presents 4,536 waterless schools and 1,562 unenergized schools. There was also a report of 6.2 million children with insufficient load, 6.8 million lack of gadgets and 6.9 million learners with unstable connections. Solution may come from the engagement of the higher education institutions in bridging the gap and the localized solutions from the local governments.

On nutrition or health state of the learners, the SEAPLM in 2019 cited that 52 percent learners have poor health, 44 percent of learners are hungry and 37 percent of learners lack sleep. DepEd and SWS report in 2020 that 9.89 percent of the enrolled students (2.2 million students) are malnourished, citing a hunger incidence of 30.7 percent.

Solutions bring back the old gains of the Nutribun and Mingo meals, along with the efficient use of the 6.4 billion budget for school-based feeding programs in 2020.

On the budget issue, the PISA noted that the Philippines is spending per learner 10 percent of the OECD average. And that in 2020, the DepEd budget was only 13.5 percent, a decline from the 17 percent in 2017, and far below the ideal education budget of 20 percent. The solution cites the Mandanas Ruling where in 2022, the LGU income will increase and which may be used for education. The strengthening and the professionalization of the local school board may be useful alongside smart investments on education.

Related to curriculum, the SEAPLM reported that of the countries in the Asean, only the Philippines chose English as the language in the PISA examination, where the Filipino learners scored poorly, instead of the mother tongue. The mother-tongue based multi-lingual education in the Philippines is shortest—from kinder to Grade three—as compared with neighboring countries that sustain mother tongue use up to grade five or even longer.

Solutions are seen in the light of strengthening the mother tonguebased multi-lingual education, the creation of the teacher parent support, and a maximized IT learning.

In line with school management, it was noted by PISA and SEAPLM that the Philippines has 65 percent bullied learners, 20 percent unsafe learners and 26 percent lonely learners. The hiring of teacher aides was proposed alongside increasing the quality learning hours. The monitoring of inclusion and well-being is also proposed as well as the moving of class hours later in a day.

PCCI Human Resources Development Foundation President Dr. Alberto Fenix, for his part, noted that as early as last quarter of 2020, the PCCI already pushed for the EdCom II. He therefore proposed a private sectorinitiated Educational Commission, which may be called immediately to create a roadmap in addressing these learning crises. His recommendation got the resounding support of the business organizations.

The conclusion is that unless we come up with something urgent and comprehensive, we are throwing away the future of an entire generation of Filipino learners. And the business sector wouldn’t want, in the future, to look back with regret and frustration at the footprints they leave. Action has to be made now.

For feedback, please send e-mail to drcarlbalita@ yahoo.com.

China-US tensions can boost India’s tech dreams–Report

F

riction between the US and China could give India the boost it needs to become a global tech hub, as long as the South Asian nation addresses longstanding roadblocks including excessive red tape and government inefficiency. “Washington’s technology cold war with Beijing has resulted in strategic decoupling, promoting manufacturing supply chains to shift to new locations,” according to a report released on Tuesday from the Asia-based Hinrich Foundation set up by US entrepreneur Merle Hinrich. “India finds itself well positioned to absorb these supply chains.” A number of factors are working in India’s favor right now, according to the foundation, which

Gorecho. . .

continued from A11

joining planks edge-to-edge using pins, dowels, and fiber lashings.

It was first mentioned as balangai or balanghai in the 16th century chronicles of Italian scholar Antonio Pigafetta who joined the expedition to the Spice Islands led by explorer Ferdinand Magellan.

Known as the oldest watercraft found in the Philippines, it is evidence of early Filipino craftsmanship and their seamanship skills during pre-colonial times.

The Balangays navigated without

cited US President Joe Biden’s call for “China-free” supply chains in certain sectors, as well as India’s membership in the Quad grouping with the US, Australia and Japan.

Leaders from those four nations held their first summit earlier this month, partly to address concerns about Beijing’s growing economic and military heft. India and China engaged in violent clashes along their disputed Himalayan border in 2020, though efforts to cool tensions this year led to both armies pulling back troops in February.

Tech giants like Apple Inc., Amazon.com Inc. and Samsung Electronics Co. that have relied on China for years are shifting production to India and Southeast Asia, a move that ac-

celerated as tensions between Washington and Beijing mounted.

The pandemic is hastening the shift as companies take advantage of India’s new productivity incentive programs, enormous labor base, and rapidly growing domestic market for devices and Internet services.

“Everybody that I talk to in the tech sector is moving stuff out of China, anything that they consider sensitive,” said Alex Capri, a Singapore-based research fellow who authored the report. India is also looking to reduce it’s own dependence on China, he said.

New Delhi will also have to address issues that have hampered growth of manufacturing, the report said, adding that excessive regula-

tions, taxes and a lack of coordination between the central and state levels of government have deterred investors.

India’s path to tech hub status will depend on its ability to develop smartphone manufacturing, the report said, noting that China still has a large lead in the industry.

India could lobby Washington to persuade top chipmakers like Taiwan Semiconductor Manufacturing Co. to open certain plants in the South Asian country, the Hinrich Foundation said.

India faces a lot of skepticism it can deliver, Capri said, “but more than ever people are saying if India is going to do it, they’ve got to do it now.” Bloomberg News

the use of modern instruments, and only through the skills and traditional methods of celestial navigation of the ancient Filipino mariners— steering by the sun, the stars, the wind, cloud formations, wave patterns and bird migrations.

Diwata was later joined by two more Balangay boats namely Masawa Hong Butuan (bright light of Butuan) and Sama Tawi Tawi (original inhabitants of Tawi-Tawi).

The Balangay boats initially journeyed from Manila Bay to the southern tip of Sulu, stopping off at numerous Philippine cities along the way that covered a distance of 2,108 nautical miles or 3,908 kilometers.

On their second major voyage, the Balangay boats sailed to trace Filipino ancestors’ trade and migration routes, throughout Southeast Asia in 2010.

It then sailed to Micronesia and Madagascar the following year, then across the Pacific to the Atlantic and all the way around the world, returning to the Philippines in 2012 to 2013.

Similar to scaling the seven summits, the Balangay team encountered challenges like big waves and inclement weather, specifically 12 low-pressure areas, in navigating an ancient boat to take them to the different ports.

The journey of the Balangay boats has proven the Filipino seafaring prowess.

The 23rd National Seafarers Day in 2018, with the theme “Marinong Filipino: Kayamanan ng Lahi!,” placed emphasis on the voyages of the Balangays that epitomize the strong-willed Filipino mariners.

Carina’s journey is proof that embracing earth’s wonders is in the Filipinos’ DNA—we are naturally attuned to the mountains and waters.

Atty. Gorecho heads the seafarers’ division of the Sapalo Velez Bundang Bulilan law offices. For comments, e-mail info@sapalovelez.com, or call 0917-5025808 or 0908-8665786

A12 Wednesday, March 31, 2021

OSG to SC: Parlade’s FB post not govt stand

By Joel R. San Juan

T

@jrsanjuan1573

HE Office of the Solicitor General (OSG) has distanced itself from the controversial Facebook post made by Lt. Gen. Antonio Parlade warning personalities pushing for the scrapping of the Anti-Terrorism Act of 2020 before the Supreme Court of possible consequences.

In his 12-page comment on the manifestation and motion submitted by former Senior Associate Justice Antonio Carpio and retired Associate Justice and former Ombudsman Conchita Carpio-Morales, Solicitor General Jose Calida told the Court that Parlade’s post should not be construed as the official position of the government.

It was also not intended, he said, to violate the rights of the petitioners in the Anti-Terrorism Act of 2020 (ATA) case filed before the high court. In their manifestation, Carpio and Morales asked the Court to compel the OSG to explain Parlade’s post, which was perceived as red-tagging and threatening all those moving to invalidate the ATA of 2020.

Continued on A2

PHL economy to grow at least 6% in ’21–UN

T

By Cai U. Ordinario

@caiordinario

HE Philippine economy is expected to grow by 6 percent or better this year and next year, mainly due to base effects, according to the latest report released by the United Nations Economic and Social Commission for Asia and the Pacific (Unescap).

In its Economic and Social Survey of Asia and the Pacific for 2021, Unescap said the Philippine economy is projected to grow 6.5 percent this year and 6 percent next year.

This is more optimistic than the 6.1 percent projection Unescap made last year for 2021.

The report also showed that inflation is expected to average 2.9 percent this year and 3.1 percent in 2022. The inflation estimate for 2021 is lower than the initial forecast made by Unescap at 3.1 percent last year.

“It’s a bit too early; there’s a lot of uncertainty around the parameters

such as vaccines being rolled out a lot. However, at this point in time, our expectations are the region will see an increase in GDP growth in 2021 and 2022. Primarily, it is what we call base effects, which means the level of activity in 2020 was so low that anything you have in 2021 in growth terms, you’ll see a big number,” Unescap Macroeconomic Policy and Financing for Development Division Director Hamza Ali Malik said.

Malik said the forecast takes into account that aspects of the Covid-19 impact are temporary and that vaccine rollouts have

already begun.

He added that governments are expected to maintain accommodative fiscal and monetary policies while export and regional value chains remain strong.

It is worth noting, Malik said, that major economies globally are on their way to recovery. This will also allow other countries, including developing nations, to see better economic growth.

However, the risks to this outlook are tilted to the downside because of the slow progress and uncertainties associated with vaccination.

The performance of trade in services, which includes international tourism, will remain subdued while debt distress remains on the rise.

Projected risks

MALIK projected long-lasting impacts on productivity; capital flow uncertainties and the risk of stagflation; and lingering trade tensions.

In order to address these risks, UN Sustainable Development Solutions Network President Jeffrey Sachs cited a need to chart a path to green and sustainable economic growth. This would require investments in key sectors.

See “PHL economy,” A9

TALKS ON DRAFT GUIDELINES ON MAV ALLOCATIONS HALTED Jasper Emmanuel Y. Arcalas

T

@jearcalas

HE Philippines is mulling over allocating half of the proposed minimum access volume (MAV) plus for pork of 350,000 metric tons to existing licensees, and giving 25 percent each to domestic hog producers and to nonlicensees, according to a copy of draft guidelines obtained by the BusinessMirror.

The draft will be finalized by the MAV Advisory Council (MAVAC) before being recommended to the interagency MAV Management Committee (MAV-MC), sources familiar with the matter told the BusinessMirror.

The draft guidelines would also authorize the Department of Agriculture, current chairman of the MAV-MC, to “allocate specific MAV volume for Visayas, Mindanao and Luzon” if necessary upon consultation with the MAV-AC, and if pork supply situations in various regions warrant it.

Fur t her more, t he d raf t guidelines prescribe an arrival period for pork imports under the MAV Plus.

According to the draft, half of the allocation of the three

sectors shall arrive on or before June 30, with the next 25 percent arriving between July 1 and September 30. The remaining 25 percent allocation shall arrive between October 1 and January 31, 2022.

“Allocations that arrived after the stated arrival period shall no longer be considered as valid,” the draft guidelines read.

The DA through its National Livestock Program, in consultation the MAV-AC, shall conduct continuous monitoring and assessment of domestic pork supply and demand situation “to determine whether or not there is a need to release the remaining MAV plus allocation.”

Talks suspended

THE BusinessMirror learned from MAV-AC members that talks on the draft guidelines were suspended after the majority of the body voted not to discuss the draft, since President Duterte’s MAV plus proposal to the Congress is not yet approved.

MAV-AC members last week voted 5-2 in favor of suspending talks on the draft dialogue until the MAV plus proposal has a resolution.

Continued on A2

www.businessmirror.com.ph

Companies BusinessMirror

Wednesday, March 31, 2021

B1

Phoenix posts profit of ₧63M last year on strong Q4 results

By Lenie Lectura

P

@llectura

hoenix Petroleum posted P158 million in net income during the last quarter of 2020, allowing the company to end the year with P63 million in earnings.

Full-year volume grew by 32 percent year-on-year as global oil prices recovered and economic activities picked up in the fourth quarter last year. Moreover, efforts to rationalize operational expenditure (opex) and capital expenditure (capex) resulted in a combined 38-percent decline year-on-year.

“We have accelerated our structural transformation, reducing OPEX per liter by 32 percent. We

delivered on our commitments and cut OPEX and CAPEX similarly. We expect to continue to benefit from these operational improvements over time,” said Phoenix President and CEO Henry Albert Fadullon.

The oil company is now the 3rd largest oil player in the Philippines in market share, according to the Department of Energy.

As of end-2020, total station count stood at 670. Fadullon added

that the company is executing and has made progress on its balance sheet programs. These include improved liquidity position, long term refinancing of short term loans and reduction in high-cost financing as P3.5 billion in Short Term Commercial Papers (STCPs) and P1.25 billion in preferred shares in December 2020 have been settled.

“It was a strong finish to a challenging year. For this year, while vaccine developments are encouraging, the resurgence of the virus and the new rounds of lockdown may continue to dampen overall consumer confidence and industrial and commercial activities.

Nevertheless, our desire for growth has not been diminished and we will accelerate it by sweating our existing assets and keeping our sharp focus on cost discipline,” said Fadullon.

Overseas, PNX Petroleum Singapore was able to expand its external fuels and LPG sales during the year.

Phoenix Gas Vietnam’s sales volume almost tripled during the year as the country became one of the fastest to recover from the pandemic.

Domestic volume, meanwhile, rebounded by 32 percent quarter-onquarter in the fourth quarter, easing the full year decline to 20 percent for the full year.

“The Luzon business is still coming off from a low base but continues to grow and expand its distribution network. The VisayasMindanao business sustained double digit growth. Domestic LPG is well-positioned to capture opportunities not only in underpenetrated retail and commercial markets but also changing consumer behaviors post-pandemic,” Phoenix reported.

Ayala seeks regulators nod for bond float

By VG Cabuag @villygc

C

onglomer at e Aya l a Corp. on Tuesday said it has submitted the shelf registration statement for the sale of bonds worth P30 billion, of which some P10 billion will be immediately sold to the market.

In its disclosure, the conglomerate said it has submitted the documents for the bond float to the Securities and Exchange Commission (SEC).

The first tranche consists of P6 billion with an oversubscription op-

tion of up to an additional P4 billion series A bonds due 2024 and series B bonds due 2026.

The company said it also secured the highest rating, with a minimal risk on the first tranche of its debt from a local credit rating agency.

The company said earlier its attributable income last year was cut in half to P17.14 billion from the previous year’s P35.27 billion as most of its business underperformed.

Revenues were down 25 percent to P219.92 billion from the previous year’s P295.26 billion.

“Our sequential growth in the

fourth quarter reflects a recovery in consumer confidence that has started to show in the latter part of 2020.

We expect this trajectory to continue and lead to a full economic revival by 2022 as mobility further improves and as the country executes on the vaccination rollout as planned,” company president and COO Fernando Zobel de Ayala said.

Ayala said its income for the fourth quarter alone was at P5.8 billion, higher than the third quarter’s P3.4 billion. The fourth quarter figure, however, was still low since the company is earning between P7 bil-

lion to P8 billion per quarter.

“This year, the Ayala group will continue to execute on its growth strategy and has allocated P196 billion in capital spending. A continued push for private sector investments would help revitalize the economy,” Zobel said.

Of this year’s capital expenditures (capex), some P11.5 billion has been earmarked under the parent firm to support the emerging businesses in its portfolio.

In 2020, Ayala has allocated some P275 billion in group capex, but only spent some P152 billion.

Undeterred by Covid-19, Subic seeks opportunities in ‘new normal’

By Henry Empeño Correspondent

S

ubic Bay Freeport—Notwithstanding the adverse effects of the Covid-19 pandemic, the Subic Bay Metropolitan Authority (SBMA) said it will pursue development goals this year and make good use of the evolving local and global economic situation.

SBMA Chairman and Administrator Wilma T. Eisma said the agency foresees more challenges this year aside from health concerns, but the SBMA is prepared to address difficulties with its action program that covers all areas of the Freeport’s operation.

“We will capitalize on opportunities under the new normal and find new ways to handle new problems,” Eisma said on Monday when asked about the agency’s plans for 2021.

“While we foresee more difficulties ahead, as it appears Covid-19 won’t be eradicated anytime soon, our development program for Subic Freeport is intact, operational, and we are moving on.”

Eisma has identified challenges the Subic Freeport faces this year in her recent State of the Freeport Address (SOFA). These are the continuing Covid-19 pandemic and the resulting weakened financial position of the SBMA; effects of Corporate Recovery and Tax Incentives for Enterprises (CREATE) Law on businesses here; and the proposed cancellation of the Visiting Forces Agreement (VFA) that may affect SBMA’s revenue.

However, she said the SBMA will meet these challenges head on through its 10-Point Development Agenda. “If we can’t change the direction of the wind, we can always adjust our sails to favor the ship and continue with our journey. Chance always favors those who are prepared.”

Under its policy reforms and good

governance agenda, Eisma said the SBMA will update policies and best practices, and solidify partnership in the fight against Covid-19; intensify drive against corruption, illegal drugs, smuggling, and illicit trade; and lobby for laws that would provide broader revenue base.

For sustainable development, it will pursue better environmental management systems and health and safety standards; develop alternative water sources and improve sewage and septic facilities; and identify new revenuegenerating measures.

For safety and security, it will come up with better monitoring and surveillance systems, upgrade perimeter security, and update hardware for law enforcement and fire protection; strengthen partnership with the Philippine National Police, Philippine Drug Enforcement Agency, the National Bureau of Investigation and other agencies and intensify its drive for a drug-free Freeport.

Under community engagement, the agency will strengthen cooperation projects with local government units (LGUs) and stakeholder groups, and initiate more community-oriented projects and interaction.

For locator service excellence, SBMA will further cut red-tape, streamline processes, and promote better business; support locators with economic relief measures; and enhance Subic appeal to business.

It will also upgrade facilities for air and sea ports, and set up modernization and marketing programs; and support government initiatives for better linkages with nearby economic zones and markets.

To promote foreign direct investments and micro, small and medium enterprises (MSMEs), it will develop new industrial and commercial areas; encourage new industry sectors and the shift to new business models; and

closely work with the Department of Trade and Industry to help MSMEs. Under its tourism agenda, SBMA will establish Subic as the must-go destination for sports, pageants, conferences and other events under the “bubble” concept; promote Subic as tourism capital and capitalize on domestic tourism to revive local businesses.

For its “Build, Build, Build” program, it will replace decades-old public facilities and support government

projects like the Subic-Clark Railway to improve the viability of Subic as an economic growth center.

Eisma said the SBMA will develop a new Subic master plan with the Japan International Cooperation Agency and study reclamation as strategy to address limited land spaces; develop Tipo and Redondo areas for industrial and commercial uses; and work with neighboring LGUs to identify and develop expansion areas.

ANI: Bond float to fund agri project expansion

A

griNurture Inc. (ANI), the listed firm of businessman Antonio Tiu, said it will use the proceeds of its 75-million euro green bond float to fund the expansion of the company’s agricultural project that is geared toward climate change adaptation.

“Furthermore, proceeds would enable ANI to strengthen its production and trade of fresh organic produce and implement projects with positive environmental benefits,” the company said.

ANI was able to secure a high rating from international research and rating agency Cicero Shades of Green for its 75-million euro green bond float in Europe.

The company said its paper received medium green certification from the ratings firm, a high rating allocated to projects and solutions that represent steps toward the long-term vision. ANI is the first Philippine agricultural firm to receive such a rating.

The company plans to issue green bonds of up to 75 million euros with a maturity of up to 7 years. It is the only agriculture company in the Philippines to be given a go signal to issue green bonds so far.

Based on the rating, the company has strong governance procedures and ambitions to improve further. The company, for instance, is targeting AgriNurture Group to be climate neutral by 2030.

It has also set targets related to renewable energy and organic farming.

The company said it hopes to become the

country’s top sustainable producer of organic agricultural food products.

Based in Oslo, Cicero Shades of Green is a subsidiary of the climate research institute Cicero.

It provides independent, research-based evaluations of green bond investment frameworks to determine their environmental strength.

Their other ratings are graded as Dark Green, Medium Green, Light Green and Brown to offer investors a better insight into the environmental quality of green bonds.

ANI has previously secured the authority to issue the long-term green bonds as well as the issuance of commercial papers, with terms and conditions to be recommended by management and to be approved by the board.

The company, which became public in 2009, has commercial activities in China, Hong Kong and Australia. It had a gross revenue of P4.5 billion for the three quarters of 2020 despite the pandemic.

It exports its products to Asia, Middle East, Europe and North America. Its brands include Big Chill, Tully’s, Cheesecake Etc. and plant based meat substitute Fit Bites via auto vending machines, kiosks, cafeterias and coffee shops, providing a range of food and beverage product lines.

Its projects in the pipeline include organic farming, renewable energy, energy efficiency, environmentally sustainable management of living natural resources and land use, clean transportation, and digital agriculture. VG Cabuag

B2

Companies BusinessMirror

Wednesday, March 31, 2021

PSE STOCK QUOTATIONS

March 30, 2021

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

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

41.65 103.9 83.5 23.05 9.72 45.05 9.95 22.65 54 17.04 121 69 1.62 3.95 3.05 1.32 0.37 0.73 141.1 0.98

43.15 104 84.2 23.2 9.75 45.25 10.4 22.7 56.3 17.14 121.9 69.1 1.63 3.98 3.18 1.5 0.405 0.77 143.9 1

42.1 106 83.5 23.1 9.5 46.05 10.28 22.95 53.8 17.04 123 68.85 1.55 3.95 3.13 1.48 0.395 0.77 140 0.98

42.1 106 84.35 23.15 9.8 46.35 10.4 23.1 56.5 17.04 123.4 69.1 1.65 3.98 3.18 1.51 0.41 0.77 143.9 0.98

41.45 103.5 82.8 23 9.44 45.05 9.95 22.65 53.8 17 121 68.85 1.55 3.95 3.12 1.4 0.375 0.77 140 0.98

41.55 103.9 84.2 23.05 9.72 45.05 10.4 22.65 56.4 17.04 121 69 1.63 3.95 3.18 1.51 0.405 0.77 141.1 0.98

4,800 2,424,990 639,820 48,000 4,150,600 3,583,700 41,900 650,000 5,120 16,100 127,100 2,480 97,000 343,000 12,000 104,000 170,000 7,000 5,160 60,000

199,665 252,476,156 53,612,498 1,108,365 39,311,301 162,990,100 435,235 14,835,750 276,172 274,316 15,443,600 171,242 153,790 1,359,350 37,590 152,670 66,300 5,390 724,775 58,800

54,015.00 -52,248,981 -16,357,246.50 -333,320 -258,886 -101,873,475 208,000 -11,153,120 -262,416 2,460,006 -691 -510,900 39,200 -

INDUSTRIAL AC ENERGY 6.88 6.92 6.93 6.98 6.86 6.92 5,930,900 40,974,314 ALSONS CONS 1.24 1.25 1.29 1.29 1.25 1.25 711,000 890,870 ABOITIZ POWER 23.7 23.95 23.85 24.2 23.7 23.7 1,211,600 28,910,790 BASIC ENERGY 0.86 0.87 0.87 0.89 0.85 0.86 41,878,000 36,181,190 FIRST GEN 30 30.05 30.15 30.15 29.9 30 256,400 7,686,100 FIRST PHIL HLDG 70 70.05 71.45 71.45 70.05 70.05 54,920 3,858,509 MERALCO 272.8 277.4 270.2 277.4 270.2 277.4 135,800 37,362,240 MANILA WATER 15.82 15.9 15.38 15.9 15.18 15.9 2,465,700 38,408,290 PETRON 3.04 3.07 3.08 3.09 3.03 3.07 1,764,000 5,389,960 PETROENERGY 3.71 3.8 3.79 3.8 3.79 3.8 531,000 2,017,770 PHX PETROLEUM 10.94 11.4 10.9 11.46 10.9 11.4 524,500 5,919,520 PILIPINAS SHELL 20.25 20.35 20.4 20.45 19 20.35 558,100 11,241,033 SPC POWER 10.36 10.48 10.46 10.54 10.34 10.36 183,800 1,912,992 VIVANT 13.72 14.72 13.68 14.8 13.68 14.72 9,500 134,544 AGRINURTURE 6.97 7.04 7.16 7.18 6.97 6.97 486,900 3,450,478 3.45 3.49 3.46 3.49 3.35 3.49 2,985,000 10,343,420 AXELUM 13.1 13.3 13.26 13.3 13.1 13.1 8,400 110,640 CNTRL AZUCARERA 17.9 17.94 17.5 17.9 17.4 17.9 1,041,800 18,533,636 CENTURY FOOD 9.1 9.16 9 9.2 9 9.16 246,300 2,233,928 DEL MONTE DNL INDUS 7.25 7.26 7.3 7.36 7.21 7.26 1,258,300 9,177,776 10.2 10.36 10.28 10.36 10.14 10.36 211,800 2,182,120 EMPERADOR 59.95 60 60 60.95 58.05 59.95 201,300 11,899,091.50 SMC FOODANDBEV 0.61 0.62 0.61 0.62 0.61 0.62 1,658,000 1,027,610 ALLIANCE SELECT FRUITAS HLDG 1.4 1.41 1.38 1.43 1.37 1.41 9,646,000 13,457,690 50.25 50.9 50 50.9 49.7 50.25 31,740 1,590,564.50 GINEBRA 176.4 176.9 175.7 177.5 175.6 176.9 273,810 48,277,415 JOLLIBEE 32 32.95 32.7 33.2 32.7 33 1,900 62,405 LIBERTY FLOUR MACAY HLDG 7.2 7.88 7.89 7.89 7.89 7.89 600 4,734 MAXS GROUP 5.71 5.85 5.85 5.85 5.71 5.71 432,400 2,487,536 MG HLDG 0.305 0.31 0.305 0.315 0.3 0.305 5,670,000 1,726,800 SHAKEYS PIZZA 7 7.05 6.99 7.08 6.89 7 3,375,300 23,615,123 ROXAS AND CO 1.01 1.02 1.02 1.04 1.01 1.02 1,707,000 1,731,240 RFM CORP 4.59 4.6 4.6 4.6 4.6 4.6 1,218,000 5,602,800 ROXAS HLDG 1.44 1.46 1.44 1.44 1.43 1.44 904,000 1,301,740 SWIFT FOODS 0.135 0.137 0.139 0.139 0.135 0.135 2,710,000 372,210 UNIV ROBINA 132.9 134.5 132.5 134.5 132.5 134.5 3,033,190 405,659,888 VITARICH 0.82 0.83 0.81 0.84 0.81 0.82 466,000 381,180 VICTORIAS 2.2 2.25 2.25 2.25 2.25 2.25 10,000 22,500 CONCRETE A 54 54.95 54 54 54 54 250 13,500 CONCRETE B 55.45 63.95 59.85 64.85 59.85 64.85 520 31,243 CEMEX HLDG 1.14 1.15 1.15 1.16 1.14 1.14 987,000 1,133,720 DAVINCI CAPITAL 2.86 2.88 2.85 2.99 2.8 2.88 3,442,000 9,906,850 EAGLE CEMENT 11.02 11.34 11.7 11.7 11 11.34 88,500 978,244 7.4 7.6 7.6 7.6 7.38 7.4 8,000 59,218 EEI CORP 5.6 5.62 5.6 5.6 5.57 5.6 85,300 476,659 HOLCIM 6.26 6.27 6.37 6.45 6.25 6.26 283,000 1,788,031 MEGAWIDE 12.22 12.26 12.26 12.26 12.22 12.26 63,800 781,460 PHINMA 1.17 1.18 1.21 1.21 1.12 1.18 438,000 504,640 TKC METALS VULCAN INDL 2.01 2.05 2.08 2.14 2.01 2.01 6,754,000 13,936,470 142.1 150 142.1 142.1 142.1 142.1 140 19,894 CHEMPHIL CROWN ASIA 1.91 1.95 1.96 1.97 1.9 1.91 206,000 397,670 EUROMED 1.97 2 2.01 2.01 2 2.01 74,000 148,480 LMG CORP 4.51 4.92 4.96 4.96 4.5 4.51 8,000 37,400 MABUHAY VINYL 4.4 4.49 4.48 4.49 4.48 4.49 15,000 67,270 PRYCE CORP 5.17 5.2 5.22 5.3 5.2 5.2 113,500 591,473 CONCEPCION 21 21.2 21 21.2 20.5 21 6,300 132,070 GREENERGY 3.84 3.85 3.96 4.15 3.85 3.85 27,602,000 109,483,570 10.38 10.4 10.34 10.38 10.12 10.38 314,700 3,233,364 INTEGRATED MICR IONICS 1.09 1.1 1.12 1.12 1.08 1.09 72,000 78,390 PANASONIC 5.6 5.85 5.9 5.9 5.6 5.6 200 1,150 SFA SEMICON 1.29 1.3 1.3 1.3 1.25 1.3 365,000 459,600 CIRTEK HLDG 6.15 6.19 6 6.2 5.94 6.19 1,139,900 6,939,014

4,562,175 -321,520 -3,845,125 129,420 1,547,455 -3,363,588.50 18,422,408 6,103,250 -1,546,950 -11,400 -3,705,447.00 18,644 -71,665 -3,252,860 66,810 3,675,956 -2,003,209 -581,124 1,664,744 -226,740 1,208,762.50 3,275,364 51,035 -814,200 146,723 -1,252,700 -82,800 58,252,304 -315,930.00 413,740 -5,850 -17,760 -26,228.00 -635,424 -377,608 451,430 -817,800.00 -1,068,988 63,200 368,453

HOLDING & FRIMS ABACORE CAPITAL 1.15 1.16 1.15 1.18 1.11 1.16 34,553,000 39,849,860 ASIABEST GROUP 6.91 7.29 7.28 7.29 7.28 7.29 200 1,457 AYALA CORP 744.5 752 748 755.5 740 752 87,550 65,670,545 ABOITIZ EQUITY 35.3 35.45 36.4 36.4 35.1 35.3 2,358,100 83,532,220 ALLIANCE GLOBAL 10.46 10.68 10.68 10.68 10.46 10.68 4,578,700 48,412,660 AYALA LAND LOG 2.94 2.95 2.94 2.96 2.92 2.95 1,228,000 3,625,730 ANSCOR 6.4 6.53 6.4 6.53 6.4 6.53 40,900 262,836 ANGLO PHIL HLDG 0.64 0.65 0.64 0.65 0.63 0.65 805,000 518,080 ATN HLDG A 0.75 0.76 0.75 0.76 0.72 0.75 2,921,000 2,143,490 ATN HLDG B 0.74 0.78 0.76 0.79 0.73 0.74 256,000 190,590 COSCO CAPITAL 5.18 5.2 5.21 5.23 5.12 5.2 2,760,500 14,367,954 DMCI HLDG 5.6 5.65 5.75 5.75 5.58 5.65 5,744,100 32,467,399 FILINVEST DEV 8.13 8.69 8.15 8.25 8.13 8.13 127,700 1,040,889 GT CAPITAL 531.5 537 540 540.5 523 537 48,070 25,687,265 JG SUMMIT 60 60.85 61 61.5 59.5 60.85 1,136,010 68,637,234.50 4.66 4.96 4.66 4.66 4.66 4.66 2,000 9,320 KEPPEL HLDG A LODESTAR 1.02 1.03 1.04 1.07 1.02 1.02 4,824,000 5,012,790 3.37 3.49 3.35 3.38 3.35 3.37 94,000 316,650 LOPEZ HLDG 13.38 13.5 13.4 13.68 13.4 13.5 1,745,400 23,529,432 LT GROUP 3.69 3.79 3.9 3.9 3.69 3.69 19,730,000 74,385,490 METRO PAC INV 3.6 3.69 3.5 3.69 3.5 3.63 16,000 57,840 PACIFICA HLDG PRIME MEDIA 2.59 2.6 2.7 2.7 2.53 2.59 3,486,000 9,080,260 340 349 349 349 342 349 460 158,130 SYNERGY GRID SM INVESTMENTS 960 970 971 987 955.5 970 382,300 369,179,760 119 119.9 121 121 119 119.9 47,080 5,643,279 SAN MIGUEL CORP 0.69 0.7 0.7 0.7 0.69 0.69 11,000 7,610 SOC RESOURCES TOP FRONTIER 134.8 140 142 142 128.2 140 6,800 902,351 WELLEX INDUS 0.245 0.25 0.255 0.265 0.245 0.245 370,000 94,450 ZEUS HLDG 0.197 0.208 0.195 0.196 0.195 0.196 220,000 43,110

525,270.00 -2,550,525 -37,183,050 -6,614,802 971,580 89,610 114,700 22,010 -5,601,225 -1,546,678 -61,265 11,675,900 -3,471,751 314,040 -168,370 -8,799,508 4,883,910 -34,290 -56,857,245 -757,779 -

PROPERTY ARTHALAND CORP 0.62 0.63 0.63 0.63 0.61 0.62 220,000 134,770 ANCHOR LAND 7.4 8.68 7.79 8.5 7.79 8.5 21,100 166,067 AYALA LAND 35.3 35.45 35.65 35.65 35.2 35.45 3,663,900 129,870,520 AREIT RT 33.55 33.7 33.4 33.7 33.3 33.7 625,800 20,959,665 BELLE CORP 1.48 1.5 1.41 1.5 1.41 1.48 115,000 169,680 A BROWN 0.86 0.87 0.9 0.9 0.87 0.87 273,000 239,300 CITYLAND DEVT 0.86 0.92 0.78 0.95 0.78 0.92 9,308,000 8,323,150 CROWN EQUITIES 0.128 0.132 0.135 0.135 0.128 0.133 1,790,000 233,500 CEBU HLDG 6.4 6.8 6.8 6.8 6.8 6.8 2,200 14,960 CEB LANDMASTERS 5.8 5.82 5.88 5.93 5.75 5.8 1,339,600 7,853,931 CENTURY PROP 0.38 0.39 0.385 0.39 0.38 0.38 6,020,000 2,318,700 CYBER BAY 0.315 0.33 0.33 0.33 0.315 0.315 310,000 99,450 DOUBLEDRAGON 13.04 13.1 13.2 13.2 12.82 13.1 1,239,700 16,160,022 DDMP RT 2.16 2.17 2.21 2.21 2.16 2.16 63,966,000 139,318,380 DM WENCESLAO 6.92 6.98 6.81 6.92 6.81 6.92 20,000 138,378 0.28 0.285 0.28 0.28 0.28 0.28 90,000 25,200 EMPIRE EAST EVER GOTESCO 0.101 0.103 0.105 0.109 0.099 0.103 11,020,000 1,134,490 1.11 1.12 1.11 1.11 1.1 1.11 6,483,000 7,161,230 FILINVEST LAND 0.81 0.82 0.82 0.82 0.81 0.81 243,000 197,500 GLOBAL ESTATE PHIL INFRADEV 1.35 1.38 1.38 1.38 1.34 1.38 251,000 343,820 1.65 1.67 1.39 1.88 1.39 1.67 38,156,000 63,202,680 CITY AND LAND 3.64 3.67 3.67 3.68 3.59 3.67 16,975,000 62,130,340 MEGAWORLD 0.41 0.415 0.38 0.415 0.375 0.41 89,740,000 36,112,400 MRC ALLIED 0.53 0.54 0.58 0.59 0.54 0.54 32,793,000 18,425,770 PHIL ESTATES PRIMEX CORP 2.18 2.19 1.88 2.2 1.86 2.18 13,888,000 28,527,920 17.8 17.96 17.7 18.1 17.7 17.96 750,900 13,431,830 ROBINSONS LAND 1.51 1.58 1.5 1.58 1.5 1.58 207,000 316,610 ROCKWELL 2.69 2.7 2.68 2.69 2.67 2.69 614,000 1,640,720 SHANG PROP 2.25 2.3 2.28 2.34 2.23 2.3 112,000 257,740 STA LUCIA LAND SM PRIME HLDG 35.55 35.65 36.4 37 35.45 35.55 5,586,800 200,076,920 SUNTRUST HOME 1.48 1.49 1.54 1.54 1.48 1.49 1,182,000 1,770,190 VISTA LAND 3.74 3.8 3.88 3.88 3.75 3.8 735,000 2,770,210

1,250 165,217 -42,126,275 -5,389,365 -4,440 -101,810 -289,250 32,000 -13,600 107,905 -8,100 -562,734 -37,401,780 -9,630 -179,810 -16,500 -456,490 -38,960,630 -282,100 4,007,540 -2,632,514 -75,240 225,120 2,230 2,097,015 -2,980 -66,260

SERVICES ABS CBN 11.08 11.26 11.3 11.3 11.08 11.26 25,300 284,026 GMA NETWORK 8.73 8.75 8.96 9.18 8.57 8.75 12,250,200 108,075,861 MANILA BULLETIN 0.435 0.455 0.455 0.455 0.455 0.455 10,000 4,550 MLA BRDCASTING 9.6 11.48 11.5 11.5 11.5 11.5 100 1,150 GLOBE TELECOM 1,901 1,905 1,905 1,912 1,900 1,901 18,120 34,477,980 PLDT 1,267 1,268 1,270 1,278 1,261 1,268 29,485 37,397,690 APOLLO GLOBAL 0.195 0.196 0.193 0.201 0.193 0.195 354,160,000 69,600,000 CONVERGE 19.1 19.12 19.12 19.2 18.88 19.12 4,736,400 90,584,170 DFNN INC 3.63 3.64 3.65 3.66 3.63 3.63 38,000 138,450 DITO CME HLDG 10.18 10.2 10.2 10.46 10.1 10.2 13,763,400 141,414,192 IMPERIAL 1.7 1.79 1.65 1.85 1.65 1.7 78,000 137,390 JACKSTONES 1.94 2 2 2 1.92 1.92 14,000 27,110 NOW CORP 2.67 2.68 2.6 2.68 2.57 2.67 1,076,000 2,828,280 TRANSPACIFIC BR 0.425 0.435 0.425 0.435 0.425 0.435 11,090,000 4,761,600 PHILWEB 2.88 2.89 2.75 2.89 2.72 2.89 1,450,000 4,122,990 8.4 8.48 8.5 8.5 8.4 8.4 45,500 384,682 2GO GROUP ASIAN TERMINALS 15.12 15.48 15.06 15.12 15.06 15.12 500 7,554 CHELSEA 3.23 3.28 3.32 3.32 3.22 3.27 313,000 1,016,300 45 45.1 45 45.1 44.05 45 365,200 16,419,130 CEBU AIR 121.1 122.9 124 124 121.1 121.1 1,843,090 224,375,620 INTL CONTAINER 15.52 17 17.12 17.12 16.6 17 5,900 99,566 LBC EXPRESS LORENZO SHIPPNG 0.95 1.06 1.06 1.08 1.06 1.06 18,000 19,100 MACROASIA 4.78 4.8 4.85 4.9 4.76 4.8 568,000 2,744,070 2.41 2.42 2.33 2.48 2.3 2.41 511,000 1,223,480 METROALLIANCE A METROALLIANCE B 2.31 2.73 2.73 2.74 2.73 2.74 10,000 27,390 PAL HLDG 6 6.15 5.9 6.2 5.9 6 22,100 133,390 HARBOR STAR 1.15 1.16 1.14 1.16 1.13 1.15 174,000 198,170 1.52 1.59 1.6 1.66 1.52 1.59 255,000 401,920 ACESITE HOTEL BOULEVARD HLDG 0.082 0.083 0.083 0.085 0.081 0.082 67,040,000 5,529,650 DISCOVERY WORLD 4.05 4.15 4.05 4.27 3.9 4.17 938,000 3,747,040 WATERFRONT 0.57 0.58 0.57 0.61 0.56 0.58 26,645,000 15,533,480 CENTRO ESCOLAR 6.51 7.3 7.2 7.2 7.2 7.2 4,500 32,400 IPEOPLE 6.65 7.58 6.58 6.65 6.58 6.65 1,300 8,611 STI HLDG 0.375 0.38 0.375 0.375 0.375 0.375 150,000 56,250 BERJAYA 4.43 4.6 4.58 4.6 4.41 4.6 31,000 141,240 BLOOMBERRY 6.8 6.9 6.9 6.96 6.8 6.9 4,091,800 28,177,850 PACIFIC ONLINE 2.06 2.1 2.16 2.2 2.05 2.06 240,000 501,750 LEISURE AND RES 1.82 1.85 1.83 1.88 1.77 1.85 1,412,000 2,625,070 PH RESORTS GRP 2.03 2.04 2.05 2.08 2.01 2.03 1,482,000 3,030,370 PREMIUM LEISURE 0.385 0.39 0.38 0.39 0.38 0.39 1,380,000 536,300 PHIL RACING 6.1 6.2 6.1 6.1 6.1 6.1 75,500 460,550 ALLHOME 7.75 7.8 7.8 7.8 7.7 7.8 1,617,000 12,535,836 METRO RETAIL 1.34 1.36 1.34 1.36 1.32 1.36 1,180,000 1,583,430 40.3 40.4 40.2 40.8 40.2 40.4 1,160,400 46,980,980 PUREGOLD 57 57.35 57.5 57.85 56.85 57 275,700 15,752,090 ROBINSONS RTL 91.8 92 92.05 92.05 91.55 92 18,090 1,663,330 PHIL SEVEN CORP 1.21 1.22 1.22 1.22 1.2 1.21 820,000 994,730 SSI GROUP 17.4 17.76 17.82 17.82 17.4 17.76 265,700 4,708,936 WILCON DEPOT 0.39 0.4 0.385 0.4 0.385 0.4 560,000 221,850 APC GROUP EASYCALL 6.58 6.6 6.7 6.7 6.57 6.58 68,100 450,372 GOLDEN MV 423 449 448 449 448 449 610 273,880 PRMIERE HORIZON 2.05 2.06 2.1 2.14 2.02 2.05 23,827,000 49,336,770

-19,175,710 -10,231,370 705,260 -5,756,400 29,130 2,418,544 25,510 696,150 518,200 -9,830 13,729,750 -124,115,322 -498,560 -56,620 303,970 -503,750 -187,480 22,900 1,495,059 54,300 266,890 1,858,796 162,250 -4,672,615 -754,894.50 -426,880 -456,090 -805,964 2,424,110

MINING & OIL ATOK 9.12 9.2 9 9.5 8.79 9.12 2,013,800 18,304,584 -25,480 APEX MINING 1.41 1.43 1.42 1.43 1.41 1.41 441,000 626,890 38,560 ATLAS MINING 6.29 6.3 6.29 6.53 6.29 6.29 178,000 1,138,028 26,710 BENGUET A 2.35 2.72 2.55 2.72 2.55 2.72 5,000 12,920 COAL ASIA HLDG 0.28 0.295 0.285 0.285 0.28 0.28 120,000 34,150 CENTURY PEAK 2.75 2.8 2.7 2.8 2.7 2.8 222,000 605,400 586,350 DIZON MINES 8.8 9.49 9.16 9.49 8.6 9.49 27,100 233,882 FERRONICKEL 2.41 2.42 2.48 2.48 2.38 2.41 2,046,000 4,927,910 -937,400 GEOGRACE 0.315 0.325 0.325 0.33 0.31 0.325 880,000 280,000 3,200 LEPANTO A 0.13 0.132 0.133 0.133 0.129 0.132 8,890,000 1,161,330 LEPANTO B 0.131 0.139 0.139 0.139 0.139 0.139 80,000 11,120 11,120 MANILA MINING A 0.0096 0.0097 0.0097 0.0098 0.0097 0.0097 23,000,000 223,200 MANILA MINING B 0.0097 0.0099 0.0099 0.0099 0.0099 0.0099 2,000,000 19,800 19,800 MARCVENTURES 1.21 1.22 1.25 1.25 1.18 1.21 852,000 1,017,010 -18,050 2.19 2.24 2.29 2.29 2.18 2.24 55,000 121,680 NIHAO NICKEL ASIA 5.09 5.1 5.19 5.23 5.06 5.1 898,600 4,601,053 118,511 0.405 0.42 0.435 0.44 0.42 0.42 110,000 46,850 OMICO CORP ORNTL PENINSULA 0.83 0.85 0.86 0.86 0.83 0.85 248,000 206,750 PX MINING 4.55 4.6 4.8 4.8 4.54 4.55 177,000 811,560 26,460 13.52 13.6 13.66 13.66 13.48 13.6 1,836,500 24,905,174 -2,497,474 SEMIRARA MINING 0.0074 0.0075 0.0075 0.0078 0.0074 0.0075 96,000,000 734,100 UNITED PARAGON ACE ENEXOR 22.6 22.85 23.1 23.1 22.2 22.85 217,600 4,962,100 120,630 0.012 0.013 0.013 0.013 0.012 0.012 135,100,000 1,651,300 ORNTL PETROL A ORNTL PETROL B 0.012 0.013 0.012 0.013 0.012 0.013 1,600,000 19,300 PHILODRILL 0.011 0.012 0.012 0.013 0.011 0.011 113,500,000 1,311,100 PXP ENERGY 8.56 8.57 8.59 8.68 8.56 8.56 118,700 1,019,690 -338,506

PREFFERED HOUSE PREF A 99.5 100.9 100.5 100.5 99.5 99.5 41,540 4,158,690 AC PREF B1 530 540 525 530 525 530 3,930 2,082,050 AC PREF B2R 531 545 528 531 528 531 12,810 6,789,080 CEB PREF 40.7 40.8 39.1 41.5 39.1 40.8 305,300 12,429,320 -91,975 CPG PREF A 102.4 102.5 102 102.5 102 102.5 7,610 779,941 DD PREF 100.5 101.7 101.7 101.7 100.5 100.5 29,750 3,012,457 GLO PREF P 502 504 503.5 503.5 503.5 503.5 2,500 1,258,750 GTCAP PREF A 1,010 1,020 1,020 1,020 1,010 1,010 1,415 1,429,300 GTCAP PREF B 1,040 1,041 1,041 1,041 1,035 1,035 30 31,080 MWIDE PREF 99.9 101.8 99.9 100 99.8 99.9 770,600 76,945,098 -99,800 MWIDE PREF 2B 100 101 101 101 100.4 101 5,100 514,980 PNX PREF 3B 100.8 101 101 101 101 101 1,610 162,610 -10,100 PNX PREF 4 987 990 995.5 995.5 987 990 3,760 3,714,420 197,700 PCOR PREF 2B 1,012 1,029 1,012 1,030 1,012 1,030 15 15,270 PCOR PREF 3A 1,115 1,119 1,115 1,117 1,100 1,115 12,445 13,845,585 1,140 1,150 1,140 1,150 1,140 1,150 80 91,840 PCOR PREF 3B SMC PREF 2C 77.7 77.75 77.75 77.8 77.75 77.8 32,370 2,517,743 SMC PREF 2F 78 78.95 78 78 78 78 18,000 1,404,000 SMC PREF 2H 76.4 76.5 77.45 77.45 76.5 76.5 2,680 205,039 SMC PREF 2I 78 78.9 78 78 78 78 950 74,100 -39,000 76.05 76.9 76.3 76.3 76 76 13,400 1,021,487.50 SMC PREF 2J SMC PREF 2K 75.65 76 75.65 76 75.65 76 2,100 158,900 -

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 10.5 10.92 10.92 10.92 10.5 10.5 6,100 66,222 -55,302 GMA HLDG PDR 8.3 8.35 8.4 8.5 8.15 8.35 945,700 7,880,477 -508,982

WARRANTS LR WARRANT 1.94 1.95 1.91 2.03 1.91 1.94 4,562,000 8,959,260 -7,360.00

SMALL & MEDIUM ENTERPRISES ALTUS PROP 18.92 19.4 19.9 19.9 18.9 19.4 223,700 4,276,510 -170,038 ITALPINAS 2.39 2.42 2.4 2.46 2.39 2.42 230,000 554,110 21,660 KEPWEALTH 5.2 5.4 5.1 5.45 5.1 5.2 51,700 266,984 MAKATI FINANCE 2.53 2.59 2.53 2.53 2.53 2.53 6,000 15,180 MERRYMART 4.99 5 4.96 5.1 4.93 5 12,291,000 61,828,510 -5,632,240

EXHANGE TRADE FUNDS

FIRST METRO ETF 99.2 99.4 100.4 100.4 98.6 99.2 24,460 2,430,914.50 23,869.50

www.businessmirror.com.ph

Public health crisis slashes FLI income by 41% in 2020

By VG Cabuag

F

@villygc

ilinvest Land Inc. (FLI), the property development arm of the Gotianun group, said its attributable net income for the entire 2020 fell 41 percent to P3.73 billion, from the previous year’s P6.28 billion, due to the effects of the pandemic on most of its operations.

Revenues, meanwhile, fell 27 percent to P17.49 billion from the previous year’s P24.02 billion, with residential revenues declining by 42 percent to P9.84 billion.

“Filinvest is no stranger to crises as we have weathered several economic and political upheavals in the past. I believe that our company’s recovery was a result not only of pandemic-reactive measures, but to a greater extent, of solid decisions made many years ago—lessons learned from previous crises,” Lourdes Josephine Gotianun-Yap, the company’s president and CEO, said.

“With the light of vaccinated hope, we remain optimistic that the recovery trend we’ve seen in the last quarter of 2020 will be sustained well in 2021 as we maintain our priority in serving the needs of our stakeholders while keeping our employees safe and healthy.”

The company said its office leasing revenues grew by 8 percent in 2020 to P5.56 billion, from P5.17 billion in 2019. FLI has 31 operational office buildings and 11 buildings under construction that will be completed in the next two years, with a total gross leasable area of over 750,000 square

meters in Metro Manila, Clark and Cebu.

Mall rental revenues registered a 55-percent drop in 2020 to P828 million due to the community quarantine restrictions. FLI said it intends to continue supporting its retail tenants by granting rental concessions to help them sustain their businesses.

Overall, proceeds from office leasing cushioned FLI’s recurring income from both retail and office leasing business from the impact of the pandemic, ending the year with a slight 9-percent drop in aggregate rental revenues to hit P6.39 billion in 2020.

The company said it had a 50-percent increase in residential revenues at P3.17 billion in the fourth quarter of 2020, coming from P2.12 billion in the third quarter.

A strong recovery was seen in mall revenues in the fourth quarter as it rose by 66 percent compared to the third quarter as Metro Manila and other cities moved to the less restrictive quarantine measures.

Mall foot traffic also doubled in the fourth quarter compared to third quarter of 2020.

The growth in demand for the affordable and the middle-income housing segment, transition of key

areas to general community quarantine and modified GCQ in the second half of the year, resumption of construction and normalized buyer amortizations were major growth drivers for the period. The company likewise saw a healthy rebound in residential reservation sale.

“We recognize the need for agility amid unprecedented times. This was seen in our swift and deliberate efforts to implement health and safety protocols across all our developments which granted our stakeholders’ peace of mind,” said Yap. “Furthermore, our company’s digital transformation played a critical role in ensuring continued sales support, customer service communications and financial operations.

We believe that our contact-less transactions and customer service channels as well as our aggressive digital marketing strategy buoyed our recovery.”

For the year, the company said it will focus on the completion of its key office building projects, including the development of first phase of the Filinvest Innovation Park in New Clark City in Tarlac, and the continued rollout of its lower density Aspire and Futura urban mid-rise buildings and housing residential developments across the country.

Project RELY energizes schools in Cebu

By Lenie Lectura @llectura

P

roject Renewable Energy for Livelihood and Youth (RELY), an endeavor supported by the European Union, has energized two remote island schools in northern Cebu through a solar power system that could generate over 42,000 watts-peak (Wp) of electricity.

The project team, led by RELY Project Director Sabine Schacknat, completed the installation of the solar power system with the help of school officials and community leaders amid Covid-19 related protocols.

The team turned over the solar energization projects at Carnaza Elementary School and at Carnaza National High School, located on an island off Daanbantayan in Cebu last March 19.

Under the project, Carnaza Elementary School is being powered by a PV system that has the capacity to generate 21,120Wp of electricity. The system includes 64 PV modules, inverters and batteries. Carnaza National High School, located on the other side of Carnaza Island, has an installation with a similar generation capacity.

“We look forward to the time when the students are able to come to school physically and experience how their learning conditions have improved. For now, the fully energized schools are helping teachers prepare the modules that

their students need,” said Schacknat.

EU Ambassador Luc Véron said the project reflects the EU’s policy, which considers renewable energy (RE) as a critically important enabler for a sustainable planet.

“Reducing greenhouse gas emissions and fighting climate change is a joint priority with the Philippines and this project contributes to it in a small but meaningful way,” he said.

RELY aims to promote use of RE to improve lives and foster climate change mitigation in poor and remote communities by energizing 16 off-grid public schools in Cebu, Bohol and Palawan. The approach combines solar electrification with community development and improved vocational education by collaborating with 5 partner senior high schools located closest to the off-grid schools.

For Carnaza, the partner senior high school is Daanbantayan National High School which received from Project RELY a set of tools and equipment to upgrade the technical-vocational track for Electrical Installation and Maintenance (EIM) of Daanbantayan National High School.

Since the donation was turned over in June 2019, Daanbantayan National High School EIM students have been able to acquire knowledge and skills related to solar technology.

Project RELY’s implementing partners are Vivant Foundation and PROCESS Bohol.

Smart ties up with Vodafone for 5G roaming in Australia

S

mart Communications Inc. (Smart) has partnered with leading global operator Vodafone to provide 5G roaming services for subscribers in Australia. This is the next step in Smart’s nonstop 5G roaming expansion in key markets across Asia, the Middle East, and now, in Australia.

Australia remains a key destination for Filipinos and a trade partner of the Philippines.

Vodafone 5G network is progressively being rolled out across Australia, while its 4G mobile network serves over 23 million subscribers in the land down under.

“This partnership with Vodafone Australia further solidifies Smart’s leadership as the Philippines’ first mobile network operator to have the most extensive 5G roaming rollout with telco industry leaders around the world, providing unparalleled roaming experience for Smart customers,” said Alice Ramos, Vice President and Head of Roaming and Consumer Business at Smart.

Smart prepaid and postpaid customers

in Australia can enjoy worry-free 5G roaming speeds using their Smart 5G-certified device and Smart 5G-capable SIM. Overseas customers can enjoy the full potential of Smart’s 5G roaming service with GigaRoam plans for as low as P999 for five days.

Travelers can easily update their social media, upload travel vlogs, and access work-related productivity apps.

To discover more data plans while on-thego, roamers can visit roam.smart.com.ph.

The launch of Smart’s 5G roaming service in Australia follows groundbreaking 5G partnerships with various operators worldwide. Smart recently teamed up with the world’s largest mobile network operator China Mobile. This, after providing the widest 5G roaming coverage in the Middle East with Zain in Bahrain, Kuwait, and Saudi Arabia, as well as full 5G coverage in the United Arab Emirates with Etisalat and du.

Smart also earlier teamed up with top 5G mobile network operators FarEasTone in Taiwan and KT Corp in South Korea.

mutual funds

March 30, 2021

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 211.92 20.29% -8.29% -3.61% -6.73% ATRAM Alpha Opportunity Fund, Inc. -a 1.2819 46.84% -6.9% 1.53% -2.37% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.9019 21.57% -12.47% -5.78% -7.38% Climbs Share Capital Equity Investment Fund Corp. -a 0.7448 24.67% -7.97% n.a.

-7.35% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6622 8.56% n.a. n.a. -10.71% First Metro Save and Learn Equity Fund,Inc. -a 4.6202 20.89% -6.13% -2.52% -6.5% First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.6714 13.57% -9.93% -7.45% -11.63% MBG Equity Investment Fund, Inc. -a 95.87 41.86% -5.84% n.a.

-5.95% PAMI Equity Index Fund, Inc. -a 43.5329 25.07% -6.27% -2.33% -7.08% Philam Strategic Growth Fund, Inc. -a 455.86 21.23% -6.21% -2.83% -6.77% Philequity Alpha One Fund, Inc. -a,d,5 1.0211 29.42% n.a. n.a.

-6.94% Philequity Dividend Yield Fund, Inc. -a 1.1013 21.89% -5.89% -1.84% -5.73% Philequity Fund, Inc. -a 32.4926 22.86% -5.95% -1.39% -6.55% Philequity MSCI Philippine Index Fund, Inc. -a 0.8485 23.58% n.a. n.a.

-7.06% Philequity PSE Index Fund Inc. -a 4.4563 25.66% -5.87% -1.58% -6.99% Philippine Stock Index Fund Corp. -a 745.56 25.94% -5.76% -1.71% -7% Soldivo Strategic Growth Fund, Inc. -a 0.6709 21.47% -9.85% -5.31% -6.68% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.3734 19.96% -7.92% -3.1% -6.91% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8525 25.28% -6.09% -1.82% -7.1% United Fund, Inc. -a 3.129 23.44% -5.15% -0.56% -5.72% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 100.0424 26.06% -5.54% -1.04% -6.98% Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b $1.2564 45.13% 3.9% 8.71% 4.45% Sun Life Prosperity World Voyager Fund, Inc. -a $1.6637 47.57% 9.44% n.a.

-0.54% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.6259 15.22% -2.8% -1.38% -2.56% ATRAM Philippine Balanced Fund, Inc. -a 2.1675 16.76% -2.84% -0.52% -5.16% First Metro Save and Learn Balanced Fund Inc. -a 2.5074 12.99% -1.93% -1.31% -4.55% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1887 7.77% n.a. n.a. -4.98% NCM Mutual Fund of the Phils., Inc. -a 1.9091 10.51% -0.09% 0.72% -2.8% PAMI Horizon Fund, Inc. -a 3.5787 14.45% -1.51% -0.47% -5.53% Philam Fund, Inc. -a 16.05 14.13% -1.36% -0.48% -5.23% -0.37% Solidaritas Fund, Inc. -a 2.0093 13.51% -2.35% -4.05% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.4082 13.17% -3.8% -1.51% -4.62% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9563 14.46% n.a. n.a.

-6.48% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.8773 19.26% n.a. n.a.

-7.57% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.8624 20.41% n.a. n.a.

-7.58% Sun Life Prosperity Dynamic Fund, Inc. -a 0.8435 16.63% -4.68% -2.16% -4.98% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03811 1.22% 2.59% 1.39% -2.58% PAMI Asia Balanced Fund, Inc. -b $1.123 29.32% 1.86% 4.99% -2.36% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.4786 35.42% 6.96% 8.06% -0.76% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.1766 20.84% 3.36% n.a.

-2.12% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 369.79 2.57% 3.08% 2.56% -0.34% ATRAM Corporate Bond Fund, Inc. -a 1.9073 -0.43% 0.71% 0.18% 0.37% Cocolife Fixed Income Fund, Inc. -a 3.217 2.31% 4.1% 4.53% 0.07% Ekklesia Mutual Fund Inc. -a 2.2431 0.41% 2.12% 1.66% -2.3% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.425 2.91% 3.08% 1.73% -1.15% -4.03% Philam Bond Fund, Inc. -a 4.4476 2.19% 3.7% 1.93% Philam Managed Income Fund, Inc. -a,6 1.316 5.06% 4.22% 2.6% -0.39% Philequity Peso Bond Fund, Inc. -a 3.9625 5.53% 4.42% 2.86% -0.96% Soldivo Bond Fund, Inc. -a 1.0236 6.86% 4.01% 1.91% -1.77% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1659 3.79% 4.63% 3% -1.25% Sun Life Prosperity GS Fund, Inc. -a

1.7286 2.15% 3.93% 2.25% -1.5% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $482.01 3.15% 2.91% 2.44% -0.38% ALFM Euro Bond Fund, Inc. -a Є219.52 2.6% 1.09% 1.19% 0.16% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.1799 2.46% 1.82% 1.25% -7.85% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0258 1.18% 1.33% 0.96% -3.01% PAMI Global Bond Fund, Inc -b $1.0549 0.84% 0.31% -0.44% -3.46% Philam Dollar Bond Fund, Inc. -a $2.4657 5.72% 4.13% 2.25% -2.76% Philequity Dollar Income Fund Inc. -a $0.062536 5.13% 3.24% 2.23% 0.35% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1091 -0.02% 1.92% 0.99% -3.55% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 129.84 2.49% 3.2% 2.51% 0.02% First Metro Save and Learn Money Market Fund, Inc. -a 1.0498 1.58% n.a. n.a.

0.16% Sun Life Prosperity Money Market Fund, Inc. -a 1.3007 2.12% 2.91% 2.58% 0.32% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0552 1.51% 1.76% n.a.

0.27% Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 1.1852 n.a. n.a. n.a. 4.92% Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $0.99 16.47% n.a. n.a.

1.02% a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. d - in Net Asset Value per Unit (NAVPU).

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

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

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

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

www.businessmirror.com.ph

Entrepreneur

Publicis Groupe Philippines taps Power of One to empower SMEs

M

arket studies show that Filipinos have turned to online shopping during the pandemic (57 percent as of Q3 2020), and point to the fact that many small businesses were negatively impacted due to the lack of access to the market.

In an effort to help struggling small and medium enterprises (SME) reach a wider market, Publicis Groupe Philippines started Project Lion Cub, a buildoperate-transfer e-commerce solution that enables SMEs, in collaboration with various platform partners, to quickly adapt to the digital normal of doing business.

Under the Publicis Groupe Power of One platform, a multi-disciplinary task force across the entire Groupe network of creatives, strategy teams, e-commerce and social specialists from Digitas, as well as Publicis media was formed, and a plan was crafted to help a variety of micro and small social enterprises who supported different communities. The goal was to help set up their e-commerce stores, optimize their digital presence, and create social campaigns to boost awareness.

The team worked closely with Lazada and Facebook who gave technical support and media credits.

“We, at Publicis Groupe, are committed and are positioned to help the broader society by bringing our Power of One practice into small enterprises and the communities. Lion Cub is an example of our organization working together driven by a common purpose, a powerful spirit, shared behaviors, great character and a relentless focus on the communities where we operate,” Ken Lingan, chief executive officer of Publicis Groupe Philippines, said.

Lion Cub selects SMEs based on the type of social enterprise, its scale, and level of technology and talent to work with. In the long-run, Lion Cub aims to scale this model/approach to include the development of packaged directto-consumer solutions, potentially with the additional participation of financial and logistics partners.

Two brands have been launched so far, with the Publicis Groupe team designing optimized flagship stores, and creating campaigns to drive the market to the stores.

The first brand is The Soap Farm, a company that works with a community of women in Quezon province producing handcrafted soaps that use all-natural, locally sourced ingredients. They specialize in a line of delightful pastry designed soaps that look and smell delicious. The team updated the logo of the brand, as well as its visual identity, that was then applied to the flagship store.

The brand was able to join the popular 11.11 Lazada sale with a conversion rate two times higher than the benchmark, with the ads driving traffic to the store with an above average click-through rate. These efforts have given the brand considerable sales in the five months the flagship store has been up, with a 100 percent positive seller rating.

The second Lazada flagship store and campaign launched was for GW

by Great Women, a brand that has collaborated with designers like Christian Louboutin but is now struggling to find a market at this time. Their exquisite fashion and lifestyle pieces are created from traditional textiles handwoven by 40 different communities around the Philippines. Merchandise planning was executed where items of lower cost were initially highlighted, with higher priced items introduced on sale. GW incremental sales was generated through the new Lazada flagship store in addition to store’s other online outlets.

The Publicis Groupe Lion Cub team is currently working to help more social enterprise brands gain their footing on the booming e-commerce platform.

“Ecommerce has brought challenges to many small and medium enterprises.

Lion Cub helps them overcome these challenges by sharpening their marketplace strategy and optimizing the online shopping experience. We, at Publicis Groupe, are committed to deliver endto-end commerce solutions that will help these SMEs achieve the growth they need to survive and thrive during these hard times,” Isabelle Turpault, Lion Cub Team Head and Digitas Head of Commerce and Programmatic Media, said.

BusinessMirror

Editor: Vittorio V. Vitug • Wednesday, March 31, 2021 B3

Of heartbreak, pandemic struggle and a promising pâté enterprise Roderick L. Abad

A

Contributor

@rodrik_28

HEARTACHE could be a real tough battle in life. One may end up like a loser, dwelling on swirling sense of desperation. But if one moves on and focus on personal growth, the next chapter could definitely be a life-changing victory.

Pawn Benik Angeles, founder and marketing director of The Charcutier Manila, had his own share of life’s roller coaster ride. Broke not only by heart but pocket-wise, too, it challenged him to rise from this experience. Surprisingly, it took only a chicken liver to do so.

“It all started when my ex left me broke with me two years ago,” he told the BusinessMirror about how his gourmet food business that offers pâté or spread began from a heartbreaking past.

Feeling lost at that time, Angeles recalled that he didn’t know how to start again without a single centavo in his bank account.

“I was supposed to organize a music festival but then came the pandemic. I almost surrendered. I was so depressed. I was thinking that time what my ex told me: That I have nothing to achieve in life. I don’t want that to happen. So it drove me to think of a business. I want to establish my own brand that he will always see whenever he goes to a convenient store or a supermarket,” he said in mixed Filipino and English.

From heartbreak to breakthrough business

DUE to a glut of gourmet products in the market, Angeles could not think of something new to invest into. But not until he saw the vlog of television personality Korina Sanchez and entrepreneur Small Laude doing their home made chicken liver pâté for their gathering. This opened his eyes to a promising enterprise that’s not saturated yet in the market.

“Spreads as a business is very versatile because it can be used for personal consumption and it’s also perfect as a gift,” said the marketing director. “I truly believe that this type of business has a lot of potential, especially if you are offering something that was crafted with utmost care and love.”

To make his idea into a reality, he had Era Lorenzo Cruz in mind to turn to. They met in 2016 when the latter, who was then a part-time

model, worked with him during his heyday in the events organizing field.

When Angeles first approached him in July of 2020, Cruz confirmed that he knows how to make a chicken liver pâté—thanks to his culinary degree from St. Benilde. Luckily at that time, he was also thinking of a fallback since the pandemic had impacted his career in modeling. So it was not difficult to get him onboard.

“The emergence of Covid-19 last year really affected the industry which is my main source of income.

That made me decide to think of a business that’s not just what I want but also what I think has potential to grow and succeed,” shared Cruz, founder and recipe developer and creator of The Charcutier Manila.

From then on until August of last year, they conceptualized their business brand and logo, as well as looked for the right suppliers. They even delegated their respective tasks to run their first foray together in the food business.

During the product development and testing stage, Cruz, who lives in Quezon City, would do the cooking and bottling. He would then send them to Angeles’s place in Makati for packaging.

“We try to make it as authentic as possible,” he said of his own take of the famous French delicacy. “We made a few adjustments from our first recipe until we got the perfect consistency and taste. We also added natural preservatives to make the shelf life longer.” Apart from whipping up their final products, they also ironed out things in so far as the operations were concerned prior to the launch of their business. This was made easy with the rapport they developed during the process.

“What I love about our partnerships is we both are affable. Our mind and vision always meet that’s why we don’t have any argument when it comes to discussing the details of our business,” Angeles pointed out.

Trade kick off, take off

WITH only two months in prepara-

THE winning tandem of business partners Pawn Benik Angeles (right) and Era Lorenzo Cruz (left), marketing director and recipe developer and creator of The Charcutier Manila, respectively, proves that determination to rise from a heartbreaking past can be a key ingredient for a start-up to succeed amid a spreading pandemic.

tions, The Charcutier Manila was officially launched in September 2020.

Because most industries like the food sector were restricted in terms of operation, if not totally closed at the height of the lockdown periods during the time, the co-owners had no choice but to offer them to their relatives and friends, as well as through the social media.

Fortunately, with the help of influencers, they received many orders for their gourmet spreads—Chicken Liver Pâté and Pesto Cream Cheese— that the buyers gave away as Christmas gifts. This could be mainly attributed to the constant high quality of their products, complemented by proper sanitation and food hazard analysis from preparation to packaging.

“Aside from having a consistent great spreadable texture, our clients say that it has a well-balanced flavor.

Our pâté specifically gets a lot of compliment because there’s no bitter after taste to it which is quite common to pâté that hasn’t been cleaned properly,” Cruz explained.

Given the favorable reception, the business indeed has finally taken off. In the first few months, it received around 10 to 15 orders within 30 days.

The business partners also had expanded their offerings with the addition of the Truffle Cheese Spread on their menu. Meanwhile, the Grazing box was made available only for the holidays and big events.

It also did not take long to recoup their initial investment of P5,000 as they already raked in around P300,000 in the first three months, which was used to register and roll

BOTTLED gourmet spreads from The Charcutier Manila

out the business.

Albeit high on the unexpected initial positive response to their offerings, then came an overwhelming challenge when a big company ordered 800 jars of strawberry jam and 800 packs of toasted baguettes.

Without a blink on their eyes, they accepted it even though these weren’t included in their menu.

Conceding the difficulties they had from sourcing out the strawberries for cooking and packing the orders, they still managed to accomplish the task and meet the one-week deadline with the assistance of some helpers they contracted. Angeles said: “It was during the first week of January 2021. What a great way to open the year. We were able to deliver on time and our clients liked our products.”

Business at present and beyond

AMID reports that many enterpris-

es—both old and new—have folded up due to lockdowns and economic slowdown, The Charcutier Manila remains in the business amid the ensuing global pandemic.

“In terms of sales, we are doing pretty well,” the marketing director said, while citing that the weekly orders for their gourmet products now reach up to 20 jars, with Truffle Cheese Spread as the best-selling variant, followed by Chicken Liver Pâté and Pesto Cream Cheese, respectively.

Angeles believes that this is all because of their business strategy, sponsored ads timing, competitive pricing, and outstanding quality and taste.

“Actually we got a lot of inquiries also because of that bulk order,” he emphasized, while referring to the irresistible special order from the said big firm, which they intend to do occasionally upon request.

“I think it’s because it shows our capacity as a business and it shows that our clients trust us. We‘re even more surprised seeing big television personalities and celebrities ordering from us again and again,” he added.

Not complacent of their trade success early on, the co-owners are determined enough to spread their wings further in the gourmet food business, with bold expansion strategies to compete with other leading brands in the market.

Internally, a mini office and physical store of The Charcutier Manila is expected to be built this year, according to him. The start-up, per the marketing director, plans to distribute its products nationwide, especially in major provinces, as it seeks to supply to some hotels and restaurants, as well as penetrate further the gift giving and corporate giveaway market.

“We are already on the process of doing that,” Angeles bared. “All we need is determination, patience and proper marketing strategy and in time who knows, we might be a household brand. That’s our goal— to come up with a world-class Filipino-made products that we can be proud of.”

Setting their sights beyond the pandemic’s horizon, the business partners look forward to sustain the company’s growth in the long run and secure its future amid uncertainties as to when the Covid-19 will end.

“We know that it’s not going to be easy but we are doing our best to develop our business in all aspects. We are always in search of a new product to offer to our clients. Managementwise, we see to it that we absorb all the learnings from our past experiences since the beginning of our journey and use it as a fuel to improve for the better,” Cruz stressed.

Homegrown retailer Frankie & Friends expands in Australia

S

YDNEY, AUSTRALIA—Philippine homegrown fashion and lifestyle retailer Frankie & Friends General Store, an intentional marketplace for a conscious and holistic lifestyle expands in Australia with the opening of its first international store in Paddington, Sydney.

From its flagship store opening in 2018, which has grown to three centrally located stores in the Philippines, the expansion of Frankie & Friends to Australian shores provides a platform for small businesses who are intent on the creation of their products, falling into three categories: sustainability, slow and ethical fashion, and small-batch handmade creations.

The store carries a wide range of categories from fashion pieces, home items, children’s clothing and toys, personal care, and novelty items crafted by hundreds of makers. The company’s mission is to Reinvent Retail through Conscious Consumption by cultivating a purpose-driven community of artisans, makers, social entrepreneurs, and connect more people to their stories and creations.

Photos courtesy of Frankie General Store

Fashion enthusiasts with a passion for slow and ethical products, sustainable self-care and unique handmade pieces will find carefully curated products from Philippine brands such as Anthill Fabric Gallery, PioPio, Rafikimono, Andante Shoes, Arete, Ecobar PH, Evrile Bags, Inne, Karisma ni Maria, Pahulay Candles, and many more.

“Our concept originated in the Philippines,

but our company aspires to create a space where we can empower and support the culture of “shopping small” by elevating local craftsmanship around the world, regardless of the neighborhood and city we set up shop in,” said Katrina San Juan, the store manager and creative director for the Paddington store.

“Our team is most excited about the opening of our first international store in Sydney. We

will be bringing some of our best sellers from the Philippines, and collaborate with locals in Sydney, as well to showcase their craftsmanship and love for small-batch creations and sustainability. Another thing we are looking forward to is fully launching our online marketplace, where all brands who do not have enough inventory to supply our physical stores can sign up and list their products in our web site by visiting www. frankiemarketplace.com. Within minutes and from their homes, every small business owner that falls under our curation guidelines, can have their products up in our web site for our customers to know about,” Ms. San Juan added.

Meanwhile, the Department of Trade and Industry, through its overseas trade office in Sydney, said the opening of Frankie & Friends is a testament to the capability of Philippine companies to globalize their brands, while also providing a sustainable development platform for micro, small and medium-sized enterprises to serve a bigger audience: the affluent and lucrative Australian lifestyle and gifting market valued at A$20 billion.

B4 Wednesday, March 31, 2021

Banking&Finance BusinessMirror

Budget deficit widens in Feb despite higher revenue take

T

By Bernadette D. Nicolas

@BNicolasBM

HE national government incurred a wider budget deficit in February at P116 billion, more than triple the P37.6 billion-shortfall in the same month last year.

The bigger fiscal gap resulted from expenditures outpacing revenues, the Bureau of the Treasury said.

Revenues for the month recorded a 6.15-percent growth year-on-year to P219.6 billion from P206.8 billion in 2020. Meanwhile, expenditures in February spiked 37.27 percent to reach P335.5 billion from last year’s P244.4 billion.

A budget deficit occurs when expenditures exceed revenues.

Tax revenues accounted for 93 percent or P203.3 billion of the total collection in February, reflecting a 7.32 percent increase from P189.4 billion in 2020.

The remaining seven percent of the total came from non-tax revenues amounting to P16.3 billion, lower by 6.51 percent from P17.4 billion in the previous year.

Most of the tax revenues for the month came from the Bureau of Internal Revenue, which collected P154.1 billion. This was an 8.39-percent uptick from last year’s P142.2 billion. With this, the 2-month take by the BIR is now at P336.3 billion, roughly even with last year’s level of P337.1 billion.

Likewise, the Bureau of Customs (BOC) also improved its performance in February as it managed a

5.35 percent year-on-year expansion to P47.2 billion from P44.8 billion in the same period last year. However, its year-to-date collection was still down by 6.17 percent to P94.5 billion from P100.7 billion as of endFebruary last year.

As for non-tax revenues, the Treasury generated P4.6 billion for the month, down by 22.09 percent from February 2020 level of P5.9 billion due to lower collection from Philippine Amusement and Gaming Corp. and investment income. For the first two months of the year, the Treasury collected P23.2 billion, plunging by 32.19 percent from last year’s P34.2 billion.

On government spending in February, nearly 91 percent of the total or P304.4 billion went to primary expenditures, rising by 32.87 percent from P229.1 billion recorded in 2020.

The Treasury attributed the increase to equity releases to Development Bank of the Philippines, Land Bank of the Philippines and the Philippine Guarantee Corp. amounting to P45 billion. The figure represents various credit guarantee and lending programs to support industries or sectors affected by the health and economic crises.

For the January to February

period, primary expenditures also jumped by 21.14 percent to P532.1 billion this year from only P439.3 billion in 2020.

Apart from this, interest payments for the month almost doubled to P31.2 billion from P15.4 billion last year. The Treasury said the increase is mainly due to coupon payments for the retail treasury bonds issued in 2020 and additional interest payments for the euro bonds issued in the same month a year ago.

Year-to-date, interest payments also inched up by 1.85 percent to P78.2 billion this year from P76.8 billion posted in January to February last year.

The February fiscal gap also pushed the year-to-date deficit to P130 billion, surging nearly ninefold from only P14.6 billion in the same period in 2020.

During the first two months of the year, revenues shrunk to P480.3 billion, lower by 4.22 percent compared to last year’s P501.5 billion.

On the other hand, state expenditure for the 2-month period posted a double-digit expansion of 18.27 percent to reach P610.3 billion from only P516 billion a year ago.

Union Bank of the Philippines Chief Economist Ruben Carlo O. Asuncion told the BusinessMirror the bigger budget deficit in February compared to the same month a year ago “bodes well for economic recovery support.”

“It is reported that 91 percent of total spending went to primary expenditures that includes releases to government financial institutions tasked to support industries and/or sectors affected by the pandemic,” Asuncion told the BusinessMirror. “Spending to support economic

recovery should continue amid the recent re-imposition of movement restriction, which may further set back economic recovery prospects.”

For his part, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said the re-imposition of the enhanced community quarantine (ECQ) on the National Capital Region and its surrounding areas (NCR-plus) could further slow down economic business activities and reduce government’s tax collection. The latter, Ricafort explained, could result to wider budget deficits and more government spending and borrowings that could lead to higher outstanding debt.

“Every week of ECQ in NCR-plus would require at least P20 billion in additional social amelioration funds, thereby adding to the budget deficit, government borrowings, and overall debt nonetheless,” Ricafort said.

On top of this, he said the need to finance the purchase of Covid vaccines could also lead to the widening of budget deficit and increased overall debt, noting that commercial purchases for Covid-19 vaccines “would be recurring in nature in the foreseeable future.”

For this year, the Cabinet-level Development Budget Coordination Committee is expecting government’s budget deficit this year to rise to P1.78 trillion or 8.9 percent of GDP. In 2020, the national government’s budget deficit soared to a record high of P1.37 trillion, more than double the previous-high shortfall of P660.2 billion.

The national government’s outstanding debt as of end-February this year has also hit a new record-high of P10.406 trillion.

SCB study: Asean firms slow to meet climate goals

T

HREE in five companies based in the Association of Southeast Asian Nations (Asean) region are not transitioning to net zero fast enough, leaving them in danger of missing the Paris Agreement target of net zero carbon emissions by 2050, new research from Standard Chartered Plc. (SCB) has revealed.

“Zeronomics,” a study into the financing of a net zero world, surveyed the senior leadership of 250 large companies and 100 investment specialists around the world between September and October last year, the British multinational lender said.

The bank added the survey revealed that: n 60 percent of Asean-based business leaders believe their companies are not transitioning fast enough (55 percent of companies globally) n Lack of support from their own investors is the biggest barrier to progress for companies in this region, cited as a significant obstacle by 73 percent (60 percent globally) n Carbon-intensive industries and companies based in emerging markets are struggling most with

the transition n Just 40 percent of Aseanbased companies fully support the aims of the Paris Agreement (47 percent globally) According to Standard Chartered, many Asean-based companies are looking to delay significant action to after 2030, with the 2020s looking set to be a lost decade. Just 20 percent of business leaders (34 percent globally) said their companies will make the most progress between 2030 and 2040, while 53 percent (37 percent globally) said they will take most action between 2040 and 2050.

“Most companies are delaying transition because they do not feel they are currently equipped to meet the target,” the lender said. “Some 60 percent (59 percent globally) said they need extensive organizational change before tackling net zero.”

A lack of investor support isn’t

the only hurdle companies in Asean face, the bank said in a statement.

The British financial institution explained that about 70 percent (67 percent globally) of business leaders believe a lack of finance is hampering transition, while seven in ten (60 percent globally) believe that a lack of support from executive leadership is a significant obstacle.

Meanwhile, Covid-19 is forcing many businesses in the region to focus on immediate survival: “A whopping 97 percent (85 percent globally) of senior executives say the pandemic has delayed their company’s net-zero transition.”

Bill Winters, Group Chief Executive of Standard Chartered, was quoted in the statement as saing their survey reveals that most companies intend to transition to net-zero by 2050 “but have yet to take the action needed to get there.”

“A majority cite funding as an

obstacle and carbon-intensive industries and emerging-market companies struggle the most,” Winters added. “A successful net-zero transition must be just, leaving no nation, region or community behind and, despite the hurdles, action needs to be swift.”

He urged entities to “act now” and “act together: companies, consumers, governments, regulators and the finance industry must collaborate to develop sustainable solutions, technologies and infrastructure.”

“Zeronomics” examines the economics of transitioning to a net-zero carbon future, the bank explained.

The financial intermediar y added it commissioned the study “to understand how far companies have come on their journey to decarbonize and it reveals a gulf between words and action.”

“Reaching net zero carbon emissions by 2050 will be a considerable challenge,” SCB said. “Every organization in every sector has a critical role to play in limiting global warming. Commitment to this agenda must be top of mind for all companies—public and private, large and small—and to succeed they must undergo major transformation.”

www.businessmirror.com.ph

PDIC to sell residential lots via public e-bidding

T

HE Philippine Deposit Insurance Corp. (PDIC) announced it will conduct an electronic public bidding (e-bidding) for the sale of residential lots located in Benguet, Bulacan, Bukidnon, Lanao del Norte, Misamis Oriental, Nueva Ecija and Tarlac, with an aggregate minimum disposal price of P33.2 million via its e-bidding portal at https://ebns.pdic.gov.ph/ on April 23 on an “as-is, where is” basis.

Online bids shall be accepted by the PDIC Real and Other Properties Acquired (Ropa) Disposal Committee from direct buyers who registered in the e-bidding portal. Online bids may be placed between 9:00 a.m. on April 22, 2021 and 1:00 p.m. on April 23. The e-bidding portal may also be accessed by clicking the “Assets for Sale” icon in the PDIC website homepage at www.pdic.gov.ph.

Of the 29 residential properties up for bidding, nine are lots with improvements and two lots will be sold together. The properties are located in Benguet, Bulacan, Bukidnon, Lanao del Norte, Misamis Oriental,

Nueva Ecija, Pampanga and Tarlac.

The complete list and description of the properties, requirements, ebidding process and Conditions of Bid are posted on the e-bidding portal. Bid documents such as the required format of the Special Power of Attorney and Secretary’s Certificate, when needed, may be downloaded from the site.

PDIC, as liquidator of closed banks, holds various asset disposal initiatives such as public biddings and negotiated sale. Proceeds from the sale of closed banks’ properties are added to the pool of liquid assets of these banks for distribution to uninsured depositors and other creditors in accordance with the rules on concurrence and preference of credits. The disposal of these assets increases the chances of recovery of uninsured depositors and creditors of their trapped funds. Meanwhile, proceeds from the sale of corporate assets are added to the Deposit Insurance Fund, PDIC’s main fund source for payment of valid deposit insurance claims.

Startup launches online insurance selling center

I

nsurance technology (insurtech) startup Kwikinsure Corp. announced the launch of what it claims to be the “largest online insurance marketplace” in the country that features more than 100 products from 15 of the top insurance and healthcare providers in the Philippines.

Kwikinsure Founder and CEO Hamilton Angluben said the platform brings insurance products closer to Filipinos and simplifies the way people avail of insurance.

The insurance marketplace is similar to popular online shopping platforms.

“Through the platform, Filipinos can now browse life and non-life insurance products online, providing them with greater transparency,” the company said.

“All transactions are done online, which trims processing time from days to just five minutes.”

“Filipinos are now used to shopping online so we patterned our platform after what they are already accustomed to. Through Kwik.insure, Filipinos can easily compare, choose, and buy insurance products that fit their needs. They can be covered in as fast as five minutes,” Angluben said.

He explained that by designing Kwik.insure to be like an ecommerce platform, the company is reducing the negative perception around insurance.

“There is plenty of stigma around insurance. A lot of people perceive it to be complicated, unaffordable, and difficult to purchase. So, we made sure that our platform makes insurance easy to understand and quick to purchase. The end-to-end process is 100 percent digital, and people are instantly protected the moment payment is confirmed.

We are one of the first insurtech companies in Southeast Asia to

be able to offer real-time coverage,” Angluben said.

E-policies are sold for as low as a straight payment of P130.

According to Insurance Commission (IC) Deputy Commissioner Randy B. Escolango the launch of Kwik.insure is a welcome development for the industry, as the government seeks to increase the insurance penetration and density in the country.

“The Commission looks forward to the innovations of this brokerage as they cater to the needs of millions of digital native Filipinos. The insurance industry is undergoing plenty of technological advances as it evolves to adapt to the new normal. We hope that Kwikinsure will contribute to the advancement of the industry and help get more Filipinos adequately insured,” Escolango said.

Latest data from the commission showed that the Philippines has an average insurance density of $55, while insurance penetration is at a measly 1.67 percent.

Globally, insurance density average is at $682, while penetration is at 6.09 percent.

Kwikinsure said it was granted by the IC a brokerage license to allow it to partner with “as many insurance companies as possible.”

“By doing so, we are able to offer our clients the widest array of products that match their budget and needs. We are grateful to the IC for the support and guidance they have given us right from the start. We are excited to collaborate and work closely with them,” Angluben said.

He noted that the group will “continuously” strike partnership agreements with more insurance and healthcare providers to offer more life, travel, and property insurance products in the platform.

Lorenz S. Marasigan

QC extends property tax payment until April 20

Banks bare ops schedule during Holy Week, ECQ

OLLOWING the implementation of the enhanced community quarantine (ECQ) by the Interagency Task Force on Emerging Infectious Diseases, the Quezon City government is extending the deadline of the real property tax payment and tax amnesty until April 20.

The Quezon City Council passed Ordinance SP 3017, S-2021 that sets a new deadline for the first quarter real property tax payment for 2021, which will be amending Section 12(b), Article 7, Chapter 2, of Ordi-

OCAL banks will be suspending their operations this week, as the National Capital Region and its neighboring provinces continue to be under enhanced community quarantine and as the country observes the Holy Week.

Bank of the Philippine Islands said their branches in Metro Manila, Laguna, Cavite, Bulacan and Rizal will operate on shortened schedules from 9:00 a.m to 1:30 p.m. on March 31.

All branches nationwide will be closed from April 1 to 4, according

F

nance SP-91, 81993, or the Quezon City Tax Code.

Due to the city government’s implemented skeleton workforce and alternative work arrangement and the restriction of movement within the city, Majority Floor Leader Councilor Franz S. Pumaren and Councilor Victor V. Ferrer submitted the amendment to the city council during the first day of the ECQ. Meanwhile, Ordinance SP-3018 S-2021 was also passed to set a new deadline for the grant of tax amnesty to real property owners from the pay-

ment of interest for delinquent real property taxes. The new ordinance is an amendment to Sec. 4 of Ordinance SP 2979.

Mayor Josefina G. Belmonte said that the city government understands the burden and challenges caused by the continuing pandemic and the current community quarantine restrictions imposed.

“This extension will hopefully ease up the impact of economic adversities on our constituents while enabling the collection of taxes,” Belmonte said.

L

to BPI. BDO announced it will also operate on shortened schedules for these five areas “with a skeletal workforce” on March 31 only until 3:00 p.m. All BDO branches will, likewise, be closed from April 1 to 4.

Metrobank branches in the greater Manila area will operate only until 1:00 p.m. on Wednesday, March 31.

All branches nationwide are closed from April 1 and 2, the lender said.

The Philippine National Bank (PNB) will be keeping some of its branches open during the Holy Week.

For April 1, Thursday, its Quezon

City Ever Commonwealth branch, Naia 1 Departure Area branch, Naia 2 Departure Area branch and Naia 3 Arrival area branch will be open in shortened hours.

For April 2, all PNB branches nationwide will be closed. The three NAIA branches will resume operations on April 3, Black Saturday, from 9:00 am. to 2:00 p.m.

Both Security Bank Corp. and Rizal Commercial Banking Corp. announced all their branches nationwide would be closed from April 1 to April 4.

Image BusinessMirror

www.businessmirror.com.ph

Editor: Gerard S. Ramos

• Wednesday, March 31, 2021

Chivalry is not about opening doors, but protecting society’s most vulnerable from attack

IMAGE FROM GROWINGSELF.COM

BY JENNIFE� WOLLOCK Texas A&M University MODERN society is in dispute over the value of chivalry. Chivalry originally referred to the medieval knight’s code of honor but today references a range of—usually male—behaviors, from courtesy to overprotectiveness. Some see it as the mindset of elite warriors, glorifying violence and demeaning women.

Others see it as necessary and desirable to protect groups under attack.

As a historian of literature who studies chivalry, I stand with the latter group. Rather than fostering misogynistic attitudes or overprotective behaviors that insult women, chivalry has been a liberating force from ancient times onward. Across many cultures it arises to protect society’s most vulnerable.

ANCIENT CHIVALRY THE earliest chivalric incident I teach appears around 2100 BC in “Gilgamesh,” perhaps the oldest surviving epic poem. In it, the wild man Enkidu, civilized by a woman, confronts the sexually abusive king Gilgamesh. Enkidu defeats Gilgamesh in hand-tohand combat to end his custom of sleeping with every bride in his city on her wedding night, and wins that king’s friendship.

Jewish laws also influenced the chivalric customs of medieval leaders. Deuteronomy, the fifth book of the the Hebrew Bible, outlined laws of war around the 7th century BC that require protections for captive women, peace overtures to enemies and prohibitions against destroying fruit trees. It inspired the international law that nations are governed by today.

The Bible also features warrior women who emerge as chivalric figures. The prophetess Deborah, for example, accompanies an army into battle. In her visionary song she praises Jael, the lone woman who assassinates a predatory enemy general on the run.

Deborah even reproaches Sisera’s mother for raising her son to plunder and enslave women as “spoils of war.”

THE MIDDLE AGES EARLY medieval knights were essentially hired thugs of low social status. Their adoption of chivalry as a professional code of honor allowed some of them to achieve respect as gentlemen.

European literature soon featured knights and kings as protectors of women. In Geoffrey of Monmouth’s History of the Kings of Britain of 1138, King Arthur kills the rapist giant of Mont-Saint-Michel.

A few decades later, the French poet Chrétien de Troyes portrays Sir Lancelot casting aside reputation, glory and treasured warhorses to save the kidnapped Queen Guinevere. Such popular tales of chivalry pressured aristocrats to adopt the chivalric code—to some extent.

By the later 14th and mid-15th centuries, English writers like Geoffrey Chaucer and Sir Thomas Malory depict the court of King Arthur as a bastion of justice for women, well beyond the norms of that day. In their most famous works, The Canterbury Tales and Le Morte d’Arthur, respectively, they wrote about women sentencing rapist knights to death or reeducation. In Malory’s version of the story, King Arthur’s knights take an oath that decries brutality toward women and demands they both aid women and “strengthen them in their rights.”

Western chivalry rapidly became a liberating force for both men and women as knights intervened to protect civilians.

CHIVALRY TODAY AS in ancient times, chivalrous medieval women themselves led armies and defended castles. One of the most famous, the peasant girl Joan of Arc, was 18 when she led her countrymen against the English and saved French independence.

Their inspiration has fired up a long series of activists who carry chivalric ideals of social justice into the present day. Suffragists in the 19th and early 20th centuries—as well as Black Lives Matter protesters today—have identified with medieval knights destroying evil customs. “We have come together as, if you will, knights at the Round Table, and our King Arthur is justice,” said a young protester in Fort Worth, Texas, after the police killing of George Floyd. Just as toxic masculinity and aggressive misogyny persist, so does the original chivalric ideal of the warrior defending human life and freedom against tyranny and its thugs.

The principled medieval knight—and principled men and women of whatever rank—valued self control. They joined clerics of different faiths in opposing cruelty when law and bigotry gave victims little recourse.

Inequities and prejudices have not disappeared since the days of King Arthur. I believe men and women of today need the chivalric values of mercy, justice and humility more than ever before.

THE CONVERSATION

B5

Coping with disappointment

I

FOUND myself extremely disappointed when it was declared that we will be under ECQ again.

There are so many people to blame and several who should be held accountable for mishandling the Covid-19 pandemic. But I am left to look at the fractured image of responsible and dependable leaders against the stark reality of the ineptitude of people who could have done something more but chose to put themselves first before others. I have been disappointed many times before but this one takes the cake.

The root cause of any disappointment is when reality is not attuned to what you have envisioned things to be. Aside from how the pandemic was handled, another example is when you want to be promoted but a less than qualified person was chosen.

And to make matters worse, they were positioned as your direct manager. You are disappointed when things do not go as you have planned.

Sometimes, it is rooted in something deeper than what we are aware of. Take the case of successful people who have reached their desired status but still find themselves lacking what truly makes them happy, only to discover they were after the wrong things. Somehow, being disappointed is rooted in unmet expectations which are consciously known, or possibly the disappointment can be anchored to something more subliminal. And while disappointments keep us grounded on reality, if they are not managed carefully, they could develop into depression and apathy.

To manage your disappointment, you need to start by looking at what happened through the lens of what could have been done to prevent it. Most of the things

we are disappointed at is the result of something we could have done better or something we failed to do.

In these instances, we need to view the event as a learning experience so we can avoid doing the same thing again. Like in the pandemic, we can focus on what could have been done better than focusing on something what has already happened. What can we learn from the experience? What can we do better next time? And who can we depend on to lead us out of this crisis?

But not all disappointments are learning experiences. Sometimes, the cause of disappointment is something you have no control over. In these cases, you need to evaluate where the feelings of disappointment are coming from and assess their source so you can manage how you react to the situation. Some things you just have to let go and move on because dwelling on them will become more problematic than productive. For things we cannot control, we must accept and focus on things we can control.

Once you have identified what desire is driving your disappointment, you can look for other options in making that desire a reality. For example, you have been eyeing to be mentored by a particular leader in your organization, but they chose someone else. Of course, you would feel disappointed. But take the time to reflect what it is in that leader which made you want to be mentored by them. You can then look for other mentors in the organization who can help you develop your skills. You might even be surprised that there are better mentors than the one you had in mind.

Another source of disappointment is setting unreal expectations. Anchor your expectations on what is possible and reasonable. Some people think they ought to be given more credit and encouragement after pulling more than their weight in the office, when in fact they do subpar work which leads them to put in more hours and more work than others. Do not delude yourself with something that you know is not possible given your current skills set.

Set your sights on achievable and realistic goals.

And even if you do better than everybody else and you still get passed over for promotion, it does not mean you are inferior. There are other factors

managers take into consideration when promoting others. In cases when you feel you have done your best and it still seemed not enough, you can ask why so you can improve. Instead of wallowing in self-pity, look for what you can do to get rid of your disappointment and focus on improving yourself to take advantage of the next opportunity in your professional career. For all you know, you were meant for another leadership role.

Remember to pat yourself on the back.

Disappointments happen to the best of us.

Someone once said that a setback is a setup for a comeback. So do not beat yourself up for temporary disappointments. Learn what you need to learn from the experience and use those to further your personal development. If you need to, talk to a trusted friend and vent out.

There are those who take out their disappointment through uplifting activities like working out or social work. Take out your disappointment by playing your favorite sport or doing home workouts. This will help release endorphins, the so-called happy hormones.

You can also help others out through the different outreach activities by civic groups. Find a cause you believe in and provide as much assistance as you can. These activities help to take your mind off your disappointment and give you the added boost to your self-esteem.

With all the negativity in the news and in social media, it is easy to fall into helplessness and disillusionment. Much as we would like to be informed and be abreast with the developments around us, it would be best to focus on things you can do in spite of what is happening.

This will put you in a better mental state to do what is needed to help you cope with disappointments not just with work but also with what is happening around you.

Disappointments are common in life. But there are disappointments which go beyond the ordinary and rob you of your peace of mind and contentment. Some could even cripple you from pursuing your personal goals and stop you from dreaming. Do not let events and people take away your own happiness. As Martin Luther King Jr. once said, “We must accept finite disappointment, but never lose infinite hope.” ■

Trouble falling asleep? Adopt some recommendations from experts THE uncertainties brought by the pandemic, as well as the ever-changing behavioral restrictions that come with it have caused anxiety and more for many. Stress-related insomnia is on the rise. Others have disrupted body clocks due to stay-at-home setups. This has severely impacted work and life schedules, thus altering sleeping patterns.

The Benilde Well-Being Center of the De La Salle-College of Saint Benilde understands that sleep directly affects mental and physical health. They have shared some important reminders from independent mental health nonprofit web site HelpGuide (www.helpguide.org), with its experts including CEO Robert Segal, M.A., executive director Melinda Smith, M.A., and senior editor Lawrence Robinson.

■ EXERCISE DURING THE DAY: Those with regular exercise feel less sleepy during daytime and sleep better at night.

These include light exercises such as walking for 10 minutes a day. Vigorous workouts provide more powerful benefits. It may take several months before the sleep-promoting effects reach its peak. It is best to continue building an exercise habit.

■ WATCH WHAT YOU EAT AND DRINK: Limit caffeine and nicotine. It is ideal to cut back on sugary foods and refined carbs. Avoid big meals at night, alcohol before bed, or too many liquids in the evening. For a late-night fill, light snacks such as a banana, half a sandwich, a glass of milk or yogurt may promote sleep.

■ CONTROL EXPOSURE TO LIGHT: Melatonin is a naturally occurring hormone that regulates the sleep-wake cycle. It is controlled by light exposure, so make certain the room is dark.

Keep the lights down if you get up during the night. It is also best to avoid bright screens within one to two hours before

bedtime. Say no to late-night television. Do not read with backlit mobile devices.

■ KEEP IN SYNC WITH YOUR BODY’S NATURAL SLEEPWAKE CYCLE: Get up and go to sleep at the same time every day. Naps should only be limited to 15 minutes or so. It is important to fight after-dinner drowsiness. This provides an opportunity to wake up late at night only to have trouble getting back to sleep. Avoid sleeping in—even on weekends.

■ WIND DOWN, CLEAR YOUR HEAD AND IMPROVE YOUR SLEEP ENVIRONMENT: Residual stress and anger can make it difficult to sleep well. A peaceful bedtime routine sends a powerful signal to the brain to let go of the day’s worries. Improve your environment and develop relaxing rituals. A warm bath, calming music or podcasts may be ideal. Even small changes can make big differences to sleep quality. Breathing from the belly rather than chest activates the relaxation response. It likewise lowers heart rate, blood pressure and stress levels.

■ LEARN WAYS TO GET BACK TO SLEEP: It is normal to wake briefly during the night. To fall back to sleep, practice breathing exercises or focus on the feelings in your body.

Postpone worrying. Make relaxation your goal. If you have been awake for more than 15 minutes, consider a nonstimulating activity like reading a book. Remember to keep the lights dim.

While these are important guidelines, do not hesitate to consider counseling. Seek professional advice from experts whenever needed. It is likewise crucial to find support from those who can assist you to achieve a well-rested sleep for a healthier mind and body.

B6 Wednesday, March 31, 2021

With attractive promos, Richmonde Hotel Iloilo brings fun to the city this summer

T

HE heat is on in the City of Love and Richmonde Hotel Iloilo is kicking off the summer season with a bevy of irresistible promos to jumpstart your fun in the sun without having to leave the urban oasis of Iloilo Business Park.

Residents of Iloilo, Aklan, Antique, Capiz, Guimaras, Negros Occidental and other parts of Western Visayas can enjoy a city staycation with discounted room rates starting at only PhP 3,500 nett (room only) and PhP 3,800 nett (room with breakfast buffet for two).

Bask in cosmopolitan splendor with Richmonde’s modern and spacious rooms and get free Wi-Fi access and use of the hotel’s gym and outdoor pool. With its resort-like vibe and glorious sunset views, Richmonde’s pool deck gives you your own slice of paradise in the metro. You can avail of the City Staycation promotion until July 31, 2021.

If an overnight stay is just not enough, you can Stay for Summer and experience more fun at Richmonde and more savings. For bookings of two consecutive nights in a Deluxe room with breakfast buffet for two, rate is at PhP 3,420 nett a night when you stay from now until April 30, 2021 (subject to blackout dates). Stay 3 nights or longer and the rate drops to PhP 3,230 nett.

For big families, there’s the Family Getaway in the City package which includes the essentials for an easy yet extraordinary escape. No need to travel far to get the vacation experience with your entire brood. Get five (5) Deluxe room accommodations at twin sharing, a choice of plated refreshments or set dinner at the pool deck, one round of drinks, Wi-Fi access, and use of the gym and pool. Package is good for ten persons and rates start at PhP 2,350 nett per person. Promotion is available until May 31, 2021.

For the win, there’s the Snack & Swim pool pass you and your family and friends can avail for only PhP 650 nett per person. Make a splash and soak in the sun at the pool anytime from 8am to 8pm, then get an energy boost from your choice of filling snack and a glass of iced tea or lemonade which you can opt to enjoy either in the morning or afternoon. Towel rental is also included.

This promotion, available until May 31, 2021, is valid for groups with a minimum of 10 persons and a maximum of 15. A 48-hour advance reservation is required, subject to availability.

Guests are guaranteed of their safety at Richmonde which complies with the prevailing guidelines of the local government, IAFT, DOT and DOH. For inquiries, room bookings, and table reservations, call +63 33 328 7888 or +63 917 563 3973 or email sales@ richmondeiloilo.com.ph. Visit www. richmondehoteliloilo.com.ph.

Nickel Asia addresses anti-vaxxers

A

S the Philippine government rolls out its vaccination program across the country, Nickel Asia Corp. (NAC) steps up to connect employees from all its subsidiaries across the country in a virtual conference that directly tackles all issues about the vaccines against COVID 19.

Former Health Secretary Dr. Paulyn Jean B. Rosell-Ubial, who heads the Philippine Red Cross Molecular Laboratories, on Friday, addresses all issues, contentious and otherwise, to answer varied questions from NAC employees from Cagdianao Mining in Dinagat Islands; Cordillera Exploration from Ilocos Sur; Dinapigue Mining in Isabela; Emerging Powers from Subic;

Hinatuan Mining and Taganito Mining from Surigao del Norte; and Rio Tuba Mining in Palawan.

NAC is aware that according to recent reports, and from its own internal surveys, 60% of Filipinos do not want to be vaccinated.

But Dr. Ubial’s statement that “the best vaccine is the one in your arm” resonated with all NAC employees and the company hopes that after 2 hours of detailed discussion with Dr. Ubial, this number will improve.

“The pandemic has basically pushed many of us to a corner and with the internet as constant companion, misinformation can spread like wildfire and there is bound to be skepticism. We

AN employee at Taganito Mining in Claver, Surigao del Norte, studies the survey form about vaccination just before Dr. Ubial’s address to all NAC employees across the country.

at NAC believe that an information campaign on something so important like the vaccine can impact the lives of our employees and the residents in our mining communities,” explains Gerardo B. Ongkingco, NAC VP for Human Resources.

“Dr. Ubial helps us cascade authentic information to all our employees as she shares credible, digestible and evidence-based information that our people actually understand and can relate to,” says Ongkingco.

Darien Bas, Social Media and Communications Specialist at Dinapigue Mining Corp. (DMC), says misinformation is a big issue and that the fight is not just against the virus but against these misinformation that can sow fear and confusion among the employees and the people in the communities.

“NAC acknowledges the fact that to be vaccinated is our personal choice but through this information campaign, the company ensures everyone has solid scientific data to base our choices on and not on fear and lack of information,” Bas stresses.

According to news reports, the Mines and Geosciences Bureau (MGB) has allowed mining companies to realign their social development funds to help the government purchase additional Covid-19 vaccines through the initiatives of the mining industry.

NAC is among the first to respond to the challenges of COVID19, by expending an accumulated P50M from its 2020 social development funds during the early months of the pandemic. A separate budget of P18M was turned over to the Philippine Red Cross to build a molecular testing laboratory in Surigao City to support the province’s efforts for early detection of COVID-19 cases.

PCSO BRINGS ASSISTANCE TO THE FIRE VICTIMS IN QUEZON CITY AND TONDO, MANILA. The Philippine Charity Sweepstakes Office (PCSO) represented by Ms. Roselle S. Dela Umbria of the Corporate Planning Department delivered a total of 27 relief packs to the fire victims in two (2) areas in Metro Manila on March 15, 2021. The first venue was in Barangay Dioquino Zobel, Quezon City wherein two families who were victims of fire that happened on March 5, 2021 received the relief packs from PCSO. From Quezon City Ms. Dela Umbria proceeded to Tondo, Manila to distribute relief packs to the 35 families in Barangay 155, Zone 14, District 2, Tondo, Manila whose homes were razed in a recent fire on March 11, 2021. Together with PCSO in the said relief operations were other government agencies namely, Department of Social Welfare and Development, the Office of the Special Assistant to the President, and the National Housing Authority. (Photo by Arnold Ramos).

Asia Blue Skies Program urges the public to play a more active role, fight pollution in improving air quality

A

YEAR after its formation, the Asia Blue Skies Program – a five-year partnership between Clean Air Asia and 3M to deliver science-based air quality solutions to the Manila City Government – finds that clearer, bluer skies are possible with changes in human activities.

The Asia Blue Skies Program report showed that air quality in Manila City significantly improved in the Enhanced Community Quarantine (ECQ) period from midMarch to mid-May 2020. However, following the ECQ, levels of PM2.5, particles 20 times smaller than the width of a human hair, rose to pre-pandemic levels at non-roadside sites, and roadside measurements significantly increased.

The Asia Blue Skies Program set up sensors in key areas of Manila City to collect air quality data that will serve as baseline metrics for the program. The data gathered for the report came from sensors installed roadside at the busy Freedom Triangle in front of Manila City Hall, at the open green space Rizal Park, and at Mendiola, a school zone.

While the original aim of the monitoring was to gather baseline information on air quality in the city, monitoring activities in 2020 coincided with the imposition of COVID-19 restrictions in the Philippines. This meant that the data collected during ECQ from mid-March to mid-May was not representative of Manila City's normal air quality; however, the strict lockdown underscored that better air quality was possible with reduced emissions from key sources, particularly from vehicles as lockdowns limited mobility.

"The Asia Blue Skies Program stands for an evidencebased and participatory approach," said Clean Air Asia Deputy Executive Director Glynda Bathan-Baterina. "What the report shows us is that humans play an important role in this transformation. Improvements in the environment are a collective effort from all stakeholders, and the public has the most important role to play."

Manila City Mayor Francisco "Isko Moreno" Domagoso, who has been a staunch advocate of clearer skies, urged residents to play a more active role in improving the city’s air quality.

“The City of Manila is one of the densest cities in the region, and we have a responsibility to ensure there is increased effort to achieve better air quality," he said. "The city government is dedicated to enhancing the quality of life of our people, and we can do that by eliminating the imminent risks that air pollution poses. The support and expertise provided by 3M and Clean Air Asia is a great step, but moving forward is only achievable if residents do their part. By so doing, I am convinced that in five years’ time, residents will be able to enjoy safer and cleaner air, and I am hopeful that other cities in the country will follow suit."

3M’s support to Clean Air Asia is aligned with its goal of creating sustainable cities and communities, particularly reducing the adverse per capita environmental impact of cities.

“3M’s ultimate goal is to improve lives, and we direct our efforts to where we can create the greatest impact. Our partnership with the Manila City Government and Clean Air Asia shows our commitment to do so. The Asia Blue Skies Program is an opportunity to show the public that cooperation and trust in science can help address the biggest challenges in societies,” said Bettina Luz, 3M Philippines Country Leader.

‘Lakbayin ang Sining’: A journey to the unique experiences in Philippine arts and culture

C

OMMEMORATING four decades of the CCP Outreach Program, Lakbayin ang Sining: Readings in Creative and Cultural Work in the Philippines, launched virtually last March 12, 2021, takes readers on an exciting journey to the unique and inspiring experiences in Philippine arts and culture.

The book features the narratives, testimonies, and heartwarming stories about arts and cultural work in the Philippines as recounted by Filipino artists, cultural workers, and arts organizations from various provinces and communities nationwide. It seeks to inspire the present and future generations of artists and community organizers and to instill in them the value, importance, and wisdom of cultural work. The publication also provides a venue for artists, cultural workers, and community leaders to relate how their organizations and communities grew, evolved, and survived the challenges of cultural work. More significantly, Lakbayin ang Sining serves as an invaluable source material on Filipino art and culture for students, teachers, scholars, academics, and researchers.

During the launch program, CCP

President Arsenio J. Lizaso and VPArtistic Director Chris B. Millado delivered their special messages.

Similarly, video performances by the Philippine Philharmonic Orchestra, RMMC Teatro Ambahanon, CPU Handbell Ringers and the Baao Children and Youth Choir, and readings by Rosalie Zerrudo, Dr. Steven Fernandez, Dulce Obusan, Coke Bolipata, and Tanghalang Pilipino’s Antonette Go and JV Ibesate (who also emceed the program) of excerpts from their contributed articles were interspersed in the proceedings.

The launch was attended in zoom by the contributors aand other distinguished guests from the CCP Outreach network. A special sign language interpretation of the livestream program was also provided by Nicky Templo Perez and Mark Jayobo from the Tagapagsalin ng Wikang Senyas Workers Cooperative (TWS-WC).

CCP Cultural Exchange Department Manager and Executive Producer of the book, Carmencita “Chinggay” JasarenoBernardo, remarked: “Completing this book was made harder by the global onslaught of COVID-19 in the middle of production work. Nevertheless, our commitment to our contributors and the readers transcended the pandemic, hence we prevailed. We are too excited about each and every story told and we are thankful that we can finally share it with the public.

Edited by Alejandro D. Padilla and designed by Paul Pagunsan, the book highlights for its cover Leonardo “Bing” Cariño’s artwork billed as MINTODA (short for Mindanao Tricycle Operators and Drivers Association) Series. It is the General Santos City-based artist’s tribute to the tricycle, a major mode of public transportation in Mindanao and other parts of the country.

Copies of Lakbayin ang Sining can be ordered and purchased online through the FB page of the CCP Shop.

BusinessMirror

Editor: Tet Andolong

Wednesday, March 31, 2021 B7

Property values in CBDs remain stable

D

By Rizal Raoul S. Reyes @brownindio

ESPITE the slowdown in office space take up caused by the pandemic, commercial property values in the central business districts (CBDs) remained steady because of the low supply of land in these locations.

Sheila Lobien, chief executive officer of the Lobien Realty Group (LRG) said the company has not observed any significant decline in land values in CBDs notwithstanding Covid-19.

According to LRG, the selling prices in the CBDs are as follows: Makati P400,000 to P1,000,000; Taguig P400,000 to P1,000,000; Pasig P280,000 to P350,000; Mandaluyong P120,000 to P230,000; Quezon City P170,000 to P230,000; Alabang P250,000 to P400,000; and Bay City P300,000 to P500,000.

“Most of the landowners are also expected to comfortably survive the pandemic because of the robustness of their companies and the possibility that they have se-

cure cash positions,” Lobien said.

Moreover, Lobien said property owners remain bullish because they expect the pandemic to be temporary as the vaccines become available leading to an economic recovery. Although there are some landowners who “may have been already highly leveraged pre-pandemic who may need to sell properties at lower prices for debt servicing,” she said they are quite few and not yet currently in the radar.

Moreover, LRG recently reported that there is an 8 percent vacancy of office spaces across all Metro Manila business districts. In its latest report, LRG pointed out that the supply of office space in the

Rental rates in the Central Business Districts of Makati, Taguig and Bay Area are the most affected by the pandemic.

The Grade A buildings in these CBDs have already gone down from 8 to 11 percent from the same period in 2020

4th quarter of 2020 had a total of 739,312 sq m. With this number, about 57.59 percent or 425,778.83 sq m is occupied or remains leased, with available remaining supply at 313,533.17 sq m.

Lobien said current value of average rent in February last year dropped 3 percent from P1,160 to P1,120 per sq m. She added the decline in rental rates was prevented because of Philippine offshore gaming operators’ (POGOs) usual one-year advance rent and deposits required by landlords of POGO tenants, as well as the norm that tenants and landlords wait for the renewal period

to renegotiate rental rates. “LRG expects renegotiated rental rates to remain in their current level or at the minimum, become lower by 10 percent,” it said.

Cities that have been affected by the drop in rental rates are Makati, Taguig and Bay Area—the areas which had the highest asking rates for the past three years. Moreover, LRG said the Grade A buildings in these CBDs have already shown an 8-percent to 11-percent decrease from their rental rates for the same period in 2020.

In Metro Manila’s CBDs, LRG cited three major factors that affected its rental rates—1) Closure

of offices of many tenants, led by POGOs who exited the country in droves. 2) The postponement of new and current companies’ start of operations and expansion plans— and the resulting space-taking based on these activities—have almost halted; and 3) The health risk has forced many companies to temporarily rely on work from home arrangements, reducing any need for office space.

To address the challenge, Lobien said office property owners in CBDs have done the following to stay afloat: 1) They are not forcing the issue and are patient with the current situation; 2) They have slowed

down some planned construction in anticipation of high vacancy rates and lower rental rates; and 3) They have become more flexible in their rental expectations and are actually giving rental discounts to existing tenants and/or offering lower rents to new ones which can be as high as 20-percent off versus pre- pandemic rates.

“Most are also offering their office spaces with furniture which were left in good condition by the previous tenants. LRG advises that prospective tenants should already start scouting for their preferred CBD, buildings and office cuts to maximize the current situation,” she said.

Meanwhile, the pandemic has created a hurly-burly scenario in property sector, according to Cushman and Wakefield director and head of research Claro Cordero Jr. This saw the emergence of new trends and the acceleration of existing ones such as the remote working concept, flexible working setup, and preference toward online shopping that are seen to influence the future landscape of the property sector post-pandemic.

“These trends are expected to help evolve the supply and demand for real-estate offerings, both in the short and the long term,” he said.

Enjoy living a modern farmhouse at The Grove Feast of the senses at Ortigas Malls

W

ITH solutions to the global health situation remaining fluid as of this time, Filipinos are being enjoined to stay vigilant and to continue adhering to health protocols to keep themselves—and other people— safe. And with one’s primary home as the safest place to be, lessons in self-sufficiency abound and continue to ensure the health of the family.

An increasingly popular trend among self-sufficient as well as enterprising Filipinos is growing their own food, which has become as essential as it is doable. At The Grove at Plantation Hills, where nature is not just a view but a way of life, the benefits of vegetable gardening are immense. Stockpiling one’s kitchen with homegrown herbs and vegetables harvested from their own backyard promotes a healthy lifestyle that helps reduce one’s carbon footprint, relieve stress, provide loved ones with nutrient-rich foods, and ensure a good workout for the body.

So, imagine leaving the congested cities and setting up a primary home—a modern farmhouse in one

of The Grove’s Orchard lots, ranging from 750 to 1,300 sq m, where at least 65 percent of the space is dedicated to eco-farming and raising recreational livestock. It is an estate on its own designed to be a living part of its natural surroundings.

Similarly, the Garden lots ranging from 450 to 600 sq m also encourage homeowners, with the novice gardener in mind, to start with potted vegetables and herbs or a few raised beds and to even do vertical farming—thereby surrounding the home with greens. Simply remember that

gardens thrive with weekly planting, weeding, thinning, and pruning as well as watering twice a day on hot and humid days.

Best of all, one can indulge in nature’s bounty without foregoing the splendid amenities of modern living.

At The Grove at Plantation Hills, sustainable eco-farming and the trappings of a luxe life are there for the homeowner’s taking. Comfort and convenience go with a lush and verdant landscape that is deeply relaxing and improves mental well-being.

With 22 hectares of land area,

The Grove at Plantation Hills provides future residents with the exclusive community’s leisure-residential-and-farming-concept-in-one, thoughtfully crafted to bring the genteel farmer’s lifestyle straight to their backyards. The enclave features expansive green spaces designed not just to admire nature from a distance but to live in it. There are tranquil ponds, pocket parks, a playground, a gazebo, and even a tree-lined perimeter path for residents’ leisurely strolls and respite from the flurry of gardening activities.

Tagaytay Highlands’ Property Management (www.tagaytayhighlands.com), has also proven to be highly efficient in delivering quick crisis response during adverse natural and high-risk events.

All things told, Filipinos who seek a self-sufficient life in a safe and tranquil enclave may head for The Grove at Plantation Hills. Here, they can enjoy living in a home with stunning mountain views as they pursue a genteel farmer’s lifestyle that they only used to dream about.

Reni Salvador

One Wilson Square spells more than just luck for its residents

C

HINESE zodiac horoscope forecasts that this year of the Ox is bound to be a rewarding time for Dragons—with projections of excellence in career, growth in wealth, and the opening of endless doors of opportunities. This auspicious outlook plays in favor of Federal Land’s upscale condominium, One Wilson Square.

Located in Greenhills or what Feng Shui experts call the belly of the dragon, One Wilson Square sits atop the spot of sustenance and nourishment, where people and wealth are in a great position to prosper, accumulate wealth and attract luck. Investments in the location are indeed favorable and One Wilson Square on its own rewards its residents with the good life they deserve.

A place that brings more than just luck

Strategically located at the corner of Ortigas and Wilson streets, One Wilson Square gives it unparalleled access to the country’s central business districts and prestigious schools, making it the perfect home for professionals and their families who are looking to flourish and achieve their full potential.

The high-rise condominium is also surrounded by commercial establishments like Greenhills Shopping Center and general hospitals, bolstering its crucial position by having essentials and a full lifestyle within arm’s reach. Wack Wack Golf & Country Club is even just a stone’s throw away, as well as renowned art galleries and restaurants of diverse cuisines—allowing for a life of culture and luxury.

One Wilson Square itself indulges its residents in a top-notch lifestyle with its wide array of amenities—pool, landscaped gardens, business center and game room, among many more. It boasts of providing the luxury of space, having up to 1- to 4-bedroom units with a generous living space ranging from 39 sq m up to 216 sq m. Each residential unit features expansive windows, as well as balconies to open up your living space and bring the outside in.

Aside from providing means to make the most out of life, the Federal Land property also secures its residents a promising future with the continually increasing land value in Ortigas, further reinforcing that opportunities to acquire wealth and power will last way

past this year of the Ox.

An easy way into the belly of the dragon

One Wilson Square is the ticket to the finer things in life and the answer to those who have always dreamt of securing a spot in one of the country’s prime location. And attaining it comes stress-free with its flexible payment options.

This includes a lease-to-own plan,

which gives its go-getter buyers the opportunity to strengthen their financial position while already living their lives in their dream home.

Seize the luck at the ready for occupancy (RFO) units at One Wilson Square. Federal Land Inc. is a wholly owned subsidiary of GT Capital Holdings Inc. and the real-estate arm of the Metrobank Group. For more information visit www.federalland.ph, or e-mail invest@ federalland.ph.

By Roderick L. Abad

O

RTIGAS Malls’ is bringing the best of film, painting, photography, sculpture, and more closer to everyone in its award-winning and admissionfree art festivities ongoing until March 31.

“We at Ortigas Malls have always supported the art community.

Through the Ortigas Art Festival, we are able to bring together hundreds of talented local and even international artists and provide them a platform to express their craft and inspire people from all walks of life,” said Architect Renee Bacani, vice president of Ortigas Malls.

“The theme of this year’s Ortigas Art Festival aligns with Ortigas Malls’ Enjoy Everyday campaign, which promotes the importance of making every day enjoyable and seizing every opportunity, despite the many challenges that life may bring,” he added.

The fourth installment of this annual celebration has ventured out to film this year from the previous year’s photography, paintings, and sculptures exhibits.

“Art is an important part of society, it is food to the soul. As long as the community continues to remain dedicated to pursuing the craft and enthusiasts continue to support, the art industry will thrive,” noted Renato Habulan, exhibit head.

As the entire world continues to reel from Covid-19 pandemic, he pointed out that collaboration and innovation among artists remain foremost priorities.

“We are grateful to continue this partnership with Ortigas Malls through the annual Ortigas Art Festival. Through activities like this, we are able to foster a sense of commonality among artists, encourage learning and push the industry together,” said Habulan, who himself is a multi-awarded Filipino artist.

To keep Ortigas Art Festival 2021 more engaging to all kinds of art lovers amid these trying times, the mall and partner-artists have made it a hybrid creative

event with on-ground and virtual activities.

Among the highlights is the Agos.studio, whose artists led by Habulan himself showcase their fluid and borderless art to the world.

They continue to spearhead the e-mentoring sessions for aspiring and established artists to uplift their spirits and guide them in these unprecedented times. The Art Relief Mobile Kitchen is the beneficiary of this headline gallery.

Everyone is also raving about the works by Born in Film, a nonprofit organization. It features masterpieces, including those of Alberto Garcia, the only Filipino photographer included in Time Magazine and National Geographic’s Most Influential Photos of the 20th Century with his Mount Pinatubo picture “Beauty Amidst Disaster.”

More options await the festival goers, such as virtual workshops on Visual Storytelling and Creative Composition, as well as Darkroom Developing on Color, Black and White, and Scanning Your Negatives broadcasted via Zoom and on PhotoNation International.

The festival’s venture to film won’t go unnoticed with its first-ever Vertical Cinema Contest, which is open to the public. This is made possible by Ortigas Malls’ partnership with the Film Development Council of the Philippines.

Art enthusiasts and aspiring artists can also check out the creative pieces from Richard Buxani, Arnel Borja, La Maison D’ David Art Gallerie, vMeme Contemporary Art Gallery, and many others at the G/F East Wing, Estancia at Capitol Commons, Pasig City.

First launched in 2018 with over 60 local artists from well-renowned groups, the Ortigas Art Festival has grown and become a much-awaited annual festivity.

In 2019, its roster expanded with more than 130 artists from all over the country and, then, grew even bigger with over 200 artists here and abroad, including those from Southeast Asia in 2020.

Sports

Volleyball fed praises Santiago

BusinessMirror

B8

J

AJA SANTIAGO thanked Philippine volleyball officials on Tuesday for praising her performance with Saitama Ageo Medics which ruled the Japanese V.Cup on Sunday.

“Thank you very much, Sir Tats,” Santiago said in her message to Ramon “Tats” Suzara.

Suzara is the president of the Philippine National Volleyball Federation, which on Tuesday sent Santiago a congratulatory message.

“On behalf of the entire leadership of PNVF, I extend my warmest and most

| Wednesday, March 31, 2021

mirror_sports@yahoo.com.ph Editor: Jun Lomibao

TRIPLE-DOUBLE ERA IN NBA I

T’S the three-point era in the National Basketball Association (NBA). The massivesalary era. The LeBron James era.

It’s also the triple-double era.

If it seems like triple-doubles are happening more often than ever, that’s because they are—by a huge margin. On average, the NBA has seen someone put up at least 10 of this, 10 of that and 10 of those in one out of every seven games this season.

The rate of them happening is up 47 percent over last season, plus represents a staggering increase of nearly 700 percent over how often they occurred just nine years ago—when there were 18 in the entire 2011-12 season.

They happen with amazing regularity now.

That doesn’t mean everyone is enthralled.

“I get it. They’re nice, round numbers and people get into those things in sports,” New Orleans coach Stan Van Gundy said. “But I’ve never really been one who thought a whole lot of the whole triple-double thing.”

He’s right. Some of them don’t seem to have much of an impact on the game.

Then there’s what Russell Westbrook—the triple-double king—did Monday night.

Westbrook had 35 points, 14 rebounds and 21 assists to lead Washington to a win. It was only the third time someone had that many points and that many assists in an NBA game—throw in the rebounds, and Westbrook’s night was unprecedented.

“He does things I’ve never seen and I’ve been in this league for 30 years,” Washington coach Scott Brooks said. “He’s a winner.”

If people are bored by the triple-double, it

might be Westbrook’s fault. He’s been making them seem like nightly happenings for years.

The reasons for the rise leaguewide in tripledoubles are many, but two of them are clear: the “freedom of movement” emphasis in officiating favors the offensive player, so that means more points and more assists. So, too, does the increase pace of play, which also leads to more rebound opportunities. There are about eight more possessions and eight more shot attempts per team as compared to nine years ago, and every possession leads to a statistic of some sort.

“To me, they’re such arbitrary numbers,” Van Gundy said. “What, if you get 10, 10 and 10 that’s better than 35, nine and nine?...

There’s a big difference between 15 points and 35 points. There’s a big difference between 10 rebounds and 18 rebounds. And there’s a big difference between 10 assists and 17 assists.

So, to say a triple-double is a measure of a great game, I don’t know.”

This will be the fifth consecutive year that the NBA has seen players collect at least 100 triple-doubles; there were 99 this season through Monday and 551 in the last five seasons, with this one only barely past the halfway mark.

Westbrook leads the league with 16 already, followed by Denver’s Nikola Jokic and Brooklyn’s James Harden with 12 apiece, then Dallas’ Luka Doncic with nine.

Put another way, we’ve seen as many tripledoubles in the last five years as in the 15 seasons before that combined.

Even some players seem less-than-impressed by them these days.

“I could care less about a triple-double,”

Miami’s Jimmy Butler said after he had one in last season’s NBA Finals. “We play this game to win.”

Here’s another example of how common the tripledouble is getting: in the entirety of the 2011-12 season, only one player—Rajon Rondo, with six— had more than one of them. This season has already seen 14 players with multiple tripledoubles, a number that will almost certainly grow.

The record for most in one season is 127.

That will likely get shattered; the league is on pace to top 150 for the season. On March 13, five players had them on the same day, the first time that’s happened in NBA history. The five: Harden, Westbrook, Julius Randle, Domantas Sabonis and Giannis Antetokounmpo.

“It’s not always about scoring,” Antetokounmpo said. “You can manipulate the game in different ways: passing, finding your teammates, putting them in the right spot.”

TJ McConnell of the Indiana Pacers had a triple-double with steals back on March 3, just the 11th of those ever. There have clearly been nights where a player knows he’s a rebound or an assist away from getting a triple-double and might become singularly focused on getting that one last stat; that’s not so easy to do with steals, which made McConnell’s one of the more impressive in a while. AP

Russell Westbrook— the triple-double king—makes it look so easy. AP

heartfelt congratulations for your achievement,” Suzara told Santiago in the letter. “Let this be an important milestone that will bring even much more to your already outstanding career.”

“Para sa bayan!” said Santiago, who was tapped by the Ageo Medics in the 2019-20 season as an imported player in its campaign in the top-tier Japanese league.

Santiago became the first Filipino to win a volleyball title outside of the Philippines. At home, the 6-foot-5 outside spiker from Cavite City won club championships with PLDT Home Ultera and Foton, and was a 2018 UAAP MVP in her final season with National University.

Saitama beat NEC, 26-24, 20-25, 25-21, 25-17, in the gold medal match at the Ota City General Gymnasium in Tokyo with Santiago contributing 11 points on nine spikes and two blocks, the third best performer on her side after Yuka Sato (15 points) and Shainah Joseph (14 points).

The Ageo Medics swept the five-game eliminations in Group B and ousted JR Marvelous, 25-21, 25-22, 18-25, 18-25, 15-13, in the semifinals.

The Filipina also helped Saitama to the bronze medal in the 2020 V.League.

Santiago is due to return from Japan on Wednesday (March 31).

JAJA SANTIAGO makes mark in Japan.

Gymnasts take break during ECQ at private training gym in Makati

F

IVE members of the men’s artistic gymnastics team will take a break not only for Lent but to also heed enhanced community quarantine (ECQ) protocols that Malacañang reimposed for a week starting last Monday.

But the gymnasts will have to remain at their training center at the Green Sun Hotel in Makati City. They couldn’t go home to their families to observe the Holy Week.

“I’m not very happy [with the ECQ], but we just have to follow,” Gymnastics Association of the Philippines president Cynthia Carrion said.

“At least it’s only until April 4. After that, we can continue training.”

Confined at the private training center

are 2019 Southeast Asian Games participants Justin Deleon, John Vergara and Jan Timbang and 2017 Palarong Pambansa gold medalists John Ivan Cruz and Jhon Santillan.

They have been in the facility since January and are being trained online by coaches Aldrin Castañeda, Rafael Ablaza, Alexander Tolentino and Lauro Reyes.

The gymnasts are preparing for the 31st SEA Games Vietnam is hosting from November 21 to December 2.

Tokyo Olympics-bound Carlos Yulo has been training in Japan for a year now.

Carrion said that the athletes should not break training as much as possible.

“It’s bad. In gymnastics, when you stop

training for one day, you lose a lot of skills,” she said.

The gymnasts couldn’t use the gymnastics gym at the Rizal Memorial Sports Complex because the venue is utilized as a Covid-19 healing and quarantine facility.

They are training at the Makati City hotel’s third floor which is a high-ceiling and 1,000-square meter space appropriate for the sport.

Carrion stressed that athletes in rhythmic gymnastis, aerobics and trampoline are being conducted online because majority of them are minor.

Filipino gymnasts finished third in the ranking by country on three gold, five silver and four bronze medals in the 2019 SEA Games.

Alora battles pandemic challenges while preparing for Tokyo Olympics

R

By Josef Ramos

IO 2016 Olympian Kirstie Elaine Alora offered deep prayers as she observed Lent inside the Inspire Sports Academy bubble, hoping the Covid-19 pandemic is defeated soon enough to everything— including sports—goes back to normal.

“It’s very much different now,” said the 31-year-old Alora, a devote Catholic out of the College of St. Benilde. “The pandemic made training so difficult, unlike when we prepared for Rio four years ago.”

Alora and the rest of the jins with bright prospects to qualify for the Tokyo Olympics, dropped sparring in their routine Kirstie Elaine Alora is keeping her faith and focus inside the Calamba bubble.

as the enhanced community quarantine are enforced. But they are not ceasing in training at the Calamba bubble.

“I have a peace of mind here in the bubble. My focus is to build strong muscles during the Holy Week,” said Alora, who shares a room in the bubble with Laila Delo.

The Filipino jins are preparing for the Asian Taekwondo Olympic Qualification Tournament from May 21 to 21 in Amman, Jordan.

Besides Alora (+73 kgs) and Delo (-67 kgs), also vying in Amman are Pauline Louise Lopez (-57 kgs), Baby Jessica Canabal (-57 kgs), Kurt Bryan Barbosa (-58 kgs), Arven Alcantara (-68 kgs), Dave Cea (-80 kgs), Samuel Thomas Harper Morrison (-80 kgs) and Joseph Chua (-68 kgs).

With them in the bubble are coaches Carlos Padilla and Christian Al Dela Cruz.

Alora lost her opening match against Mexican Maria Espinoza, 1-4, in the roundof-16 in Rio and couldn’t win over Wiam Dislam of Morocco, 5-7, in the repechage.

“I’m almost there. I’m near my peak, but I have to develop really well my stamina and work on my strength and conditioning,” she said.

Alora said she will be worrying about the Kazakhstan and Uzbekistan jins in Amman.

“The South Koreans and Chinese have already earned the maximum number of entries for Tokyo,” she said.

A country could qualfify a maximum of two jins in each of the men’s and women’s divisions in the Olympics set from July 23 to August 8.

Sports also grinds to a halt Al Mendoza | alsol47@yahoo.com

THAT’S ALL IT’S just right. Stop all activities, including training and other similar workouts, of our athletes.

It’d be out of tune, if not downright foolish, if sports is allowed to proceed while the entire metropolis and its four adjoining provinces (Rizal, Bulacan, Cavite and Pampanga) are practically at a standstill.

Hardest hit are those bottled up at Inspire in Calamba, Laguna. Among those plucked out of the “Calambubble” are national team athletes training for the November 2021 SEA Games in Hanoi and our Gilas Team preparing for the June qualifiers to the Fiba Asia Cup and the Olympic Games.

The directives jointly came from the Games and Amusements Board (GAB) and the Philippine Sports Commission (PSC), the pro and amateur bodies, respectively, supervising sports in the country.

“As always, we will remain supportive of the decision coming from the PSC and we will also strictly follow the precautionary measures from the Department of Health and the IATF

[Inter-Agency Task Force] for the management of emerging infectious diseases,” said Al Panlilio, the president of the Samahang Basketbol ng Pilipinas (SBP) overseeing the Gilas Pilipinas team.

Attaboy, Al. For his part, Commissioner Willie Marcial of the Philippine Basketball Association (PBA) is now contemplating on postponing the PBA’s 46th season opening on April 18 “in abeyance to the government’s call for more caution against the pandemic.”

Attaboy, Willie.

As I was saying, the Covid-19 scourge is no joke since it became a pandemic almost one year ago this month.

As a result of the virus’ rapacious rampage, millions have already died worldwide—with world sports getting virtually crippled in 2020.

The Masters in Augusta, Georgia, the traditional kickoff of the four majors in golf, was transferred from April to November 2020—a first since its birth in 1937.

Eala

Eala vies in Swiss tilt

F

ILIPINO tennis sensation Alex Eala will vie in the main draw of the Bellinzona in Switzerland from April 5 to 15.

The Swiss tournament is the first $60,000 tournament for Globe ambassador Eala.

Eala’s impressive run in the professional circuit in the first three months of 2021 catapulted her to a personal best No. 736 in the Women’s Tennis Association singles ranking released last week. She moved 27 places up.

The 15-year-old Rafa Nadal Academy scholar reached the round-of-32 and roundof-16 in her last two tournaments before losing her opening match in the Miami Open qualifiers in Florida.

Eala managed to take the opening set against world No. 104 Viktoria Kuzmova before yielding a tough 6-4, 4-6, 2-6 loss last Monday at the Hard Rock Stadium in Florida.

Eala racked up a 12-5 win-loss record in the WTA while holding a 17-9 overall record, including her matches in the International Tennis Federation (ITF) this year.

Eala earned her first-ever singles title since turning pro in the opening leg of the Rafa Nadal Academy ITF World Tour in Mallorca, Spain, in January. She also recorded three consecutive quarterfinal appearances in her next three tournaments.

But the British Open, the most revered, oldest golf major, got scrapped in July 2020.

In tennis, annually staging four majors, too, like golf, bundled out was Wimbledon, the sports’ much-awaited yearly grass event. It marked the first time since World War II that this oldest tennis Slam got stricken off the calendar.

And the biggest global casualty of all last year was the Tokyo Olympics, which was scuttled in July.

Moved to July 2021, the Olympiad is still struggling to meet all the requirements for its planned opening barely five months from now.

A happy note, though, is the torch relay involving more than 10,000 Japanese runners has been kicked off last week in Fukushima, the tragic scene of the earthquake-caused tsunami and nuclear meltdown in 2011 that killed more than 18,000, including hundreds more missing believed swept into the sea.

The torch is expected to arrive in Tokyo in time for the Olympic opening on July 23.

May God give grace to mankind’s most celebrated sporting event.

THAT’S IT Congratulations to Yuka Saso for being chosen “Athlete of the Year” by the Philippine Sportswriters Association for her 2020 golf exploits that saw her win two major tournaments in Japan.... Happy birthday to Peugeot’s Glen Dasig. Birthday greetings also to Ted Failon, now with DJ Cha Cha as hosts of TV5’s radio-TV program from 6 a.m. to 10 a.m. Monday to Friday. Cheers!