BusinessMirror May 13, 2020.pdf by BusinessMirror

PHL keeps Baa2 rating amid virus–Moody’s By Tyrone Jasper C. Piad

HE Philippines’s credit rating is expected to remain unchanged in the next 12 to 18 months, after Moody’s Investors Service on Tuesday affirmed the country’s Baa2 credit profile. The country kept its Baa2 credit rating with stable outlook despite economic challenges brought about by the coronavirus disease 2019 (Covid-19), Moody’s said. “The Philippines’s credit profile has been characterized in recent years by strong economic performance, a strengthening fiscal position and limited vulnerability to external shocks, although the global coronavirus outbreak pres-

A DEPARTMENT of Public Works and Highways worker inspects container vans converted to isolation facilities for coronavirus patients at the Cultural Center of the Philippines Complex in Pasay City. ROY DOMINGO

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ents near-term challenges to these trends,” Moody’s said. The debt watcher said the country’s rating was based on its “a3” economic strength, “baa2” institutions and governance strength, “ba1” fiscal strength and “baa” susceptibility to event risk. Moody’s decision to keep the Philippines’s credit rating mirrors Fitch’s earlier revision of its credit rating outlook of the country from “positive” to “stable.” “Moody’s expects the Philippines’s real GDP [gross domestic product] growth to remain robust relative to peers and that its fiscal metrics will continue to strengthen as the government continues to make progress on its socioeco-

nomic reform agenda, particularly on tax reform,” the agency said. However, the credit-rating firm said that GDP might contract by 2.5 percent this year. It maintained its inflation projection at 2.2 percent for 2020. The Philippine Statistics Authority (PSA) recently reported that the economy contracted by 0.2 percent in the first quarter—the first since 1998—while inflation stood at 2.6 percent year-to-date. The pandemic, Moody’s said, is putting trade, supply chain linkages, investment, remittances and tourism at risk and the lockdown is not helping either because it is curtailing domestic demand. Continued on A2

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PHL FIRMS LOST P875B IN REVENUE FROM ECQ www.businessmirror.com.ph

Wednesday, May 13, 2020 Vol. 15 No. 216

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NCR, LAGUNA, CEBU CITY ON MODIFIED ECQ UNTIL MAY 31 By Samuel P. Medenilla

ORE workers may soon be able to go back to work as the government starts relaxing community quarantine protocols even in areas it deems “high risk” for novel coronavirus disease. On Tuesday Presidential Spokesperson Harry Roque said the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) has recommended to reduce starting on May 16, 2020, the number of high-risk areas to three: the National Capital Region (NCR); province of Laguna; and the City of Cebu. “High-risk provinces, HUCs [highly urbanized cities] and ICCs [independent component cities] shall be placed under Modified Enhanced Community Quarantine [MECQ] until May 31, 2020,” Roque said in an online press briefing on Tuesday. High-risk areas are those that have case doubling time of Covid-19 cases in less than seven days and have utilization rate for their critical health-care facilities at greater than 70 percent. Compared to an ordinary ECQ, Roque explained, MECQ will allow more industries to operate albeit at a limited scale. Roque said the additional industries that will be allowed to operate in MECQ areas may be announced on Wednesday. The Department of Labor and Employment (DOLE) earlier said the community quarantine implemented by the government since March to contain Covid-19 has led to the temporary displacement of over 2 million workers. A government survey of impacted firms showed Philippine companies, including agribusiness, lost P875 billion in revenue from the lockdowns.

A HOMELESS man walks past a row of shuttered businesses with a sign greeting President Duterte a happy birthday in Quezon City. NONIE REYES

By Cai U. Ordinario

HILIPPINE companies, including agriculture businesses, lost P875.5 billion in revenues due to the enhanced community quarantine (ECQ), according to the survey conducted by the National Economic and Development Authority (Neda) and the Department of Finance (DOF).

Documents obtained by the BusinessMirror also revealed that micro, small and medium enterprises and large firms lost a total of P767 billion in revenues, while agriculture business lost P108.5 million in revenues. The top 10 industries most affected by the ECQ lost 74.3 percent of their sales as 135,438 firms were closed during the lockdown. Only 21,691 firms were open during this time. “Survey results corroborate the economic decline,” the document stated. The latest estimates from the Philippine Statistics Authority (PSA) estimated that the

country’s GDP growth contracted 0.2 percent in the first quarter. The data also showed that in terms of job losses, the government estimates 2.24 million Filipinos lost their jobs during the ECQ. The survey results show that 74.4 percent of firms did not lay off their workers while 25.4 percent had to downsize their companies during the ECQ. However, it was estimated that 86 percent of workers in the agriculture sector were able to keep working in the farm. The estimated job losses in the top 10 hardest hit sectors reached 1.13 million, or a 2.6-per-

PESO EXCHANGE RATES n US 50.3480

cent decline in the country’s total employment.

Most affected industries

IN terms of income, the industry that was most affected by the ECQ were in the arts, entertainment, and recreation sector, where sales declined by 82.3 percent. It is estimated that 18,661 firms in the sector were closed due to the ECQ and only 1,874 firms were open. It is expected that the firms in this sector will be closed for nine months this year. This was followed by tourism, which saw revenues plunge 81.9 percent with 29,147 firms closed during the ECQ and only 2,686 firms were open during the lockdown. It is also expected that firms in this sector will remain closed for nine months this year. In terms of job losses in the top 10 hardest hit sectors, the construction and education sectors were the most affected with 689,974 and 130,514 jobs lost, respectively. This was followed by the repair of motor vehicles and motorcycles (74,758 jobs lost during ECQ), tourism (51,446), and finance and insurance activities (41,027). Meanwhile, among consum-

ers, the Neda and DOF survey showed 44 percent of respondents said their income was not enough to meet their basic needs. At least 44 percent of nongovernment worker respondents said they lost their jobs or sources of incomes. The top three needs of consumers, based on the survey, are access to food supply and essentials; more efficient health system; and transportation. The firms, meanwhile, listed as their top three needs: deferred payment to government, banks and utilities; tax discounts or tax credits; and low-interest loans from government and banks. The primary concerns of agribusinesses were cash assistance; production support—seeds, planting materials, fertilizer, etc.; and machinery and equipment—tractors, cultivators and pumps, etc. The consumer survey of Neda and DOF had 389,859 respondents and was administered between April 5 and 8; while the MSME and large business survey had 44,097 respondents and administered between April 4 and 8. The agriculture survey had 6,863 respondents and was administered between April 3 and 8.

See banner story on A1, “PHL firms lost P875B in revenue from ECQ”

Zoning scheme

THE IATF also recommended that local government units (LGUs) in MECQ areas implement a new zoning system so they could transition to the so-called new normal by next month. See “MECQ,” A2

ENGINEER Dindo Sanchez shows the newly built crematorium for coronavirus victims at the Pasig City Cemetery. The government has required hospitals to cremate the body of a Covid-19 patient within 12 hours after death. Pasig Mayor Vico Sotto and Makati Mayor Abby Binay earlier announced that their respective city governments would shoulder the cremation expenses of their residents who die of the disease. NONOY LACZA

n JAPAN 0.4678 n UK 62.1143 n HK 6.4962 n CHINA 7.0925 n SINGAPORE 35.5339 n AUSTRALIA 32.6607 n EU 54.4212 n SAUDI ARABIA 13.4083

Source: BSP (May 12, 2020)

News BusinessMirror

A2 Wednesday, May 13, 2020

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Neda, DOF: NG needs ₧734B for stimulus after Covid damage

By Cai U. Ordinario

HE national government needs an additional P734-billion initial stimulus to boost the economy, according to estimates made by the National Economic and Development Authority (Neda) and the Department of Finance (DOF). Documents obtained by the BusinessMirror showed that the amount accounts for 3.8 percent of the country’s GDP. Of this amount, 0.9 percent of GDP is composed of a fiscal stimulus. The remaining 2.9 percent comprises savings, off-budget, monetary policy, financial sector regulatory relief, and private sector contribution. “Reconciling the macro framework and survey results: P734 billion of initial stimulus is needed, but fiscal space is limited. Base case (-2 percent real GDP growth in 2020),” the document stated. Based on Neda and DOF estimates, the 2020 pre-coronavirus 2019 (Covid-19) was estimated at P21.468 trillion. However, due to the pandemic, this will decline to

P19.554 trillion. This represents a reduction of P1.914 trillion in nominal GDP due to Covid-19. Of this amount, 87 percent or P1.665 trillion are losses due to profits and wages. However, Neda and DOF said there is a need to keep spending prudent and ensure that the country’s deficit-to-GDP ratio and debtto-GDP ratio are in check. For the deficit-to-GDP ratio, the government said the country is already at 5.3 percent. But with the recovery program in place, it is estimated the government can keep this to around 6.18 percent deficitto-GDP ratio. In terms of debt-to-GDP ratio, the government aims to keep this to below 50 percent of GDP. As of 2019, the debt-to-GDP ratio is at 39.6 percent, the lowest in

real-estate activities (21.8 percent); financial and insurance activities (17.2 percent); wholesale and retail trade, repair of motor vehicles and motorcycles (6.8 percent); electricity, gas, steam and air-conditioning supply (7.7 percent); and information and communication (20.8 percent). Bank lending to other sectors also increased during the month, except for manufacturing (-0.4 percent) and mining and quarrying (-5.3 percent). Meanwhile, growth in loans for household consumption eased to 22.9 percent in March from 37.7 percent in February due to the slower expansion in credit card and motor vehicle loans during the month.

Continued from A1

Under the scheme, concerned LGUs will divide their areas into four kinds of zones. Areas which have more than 20 cases will be classified as critical zone and will be placed under ECQ. Locations around critical zones with 1 to 19 Covid cases will be considered containment zones and implement a modified community quarantine, while those areas without cases but contagious with localities with cases will be classified as buffer zones and enforce a general community quarantine (GCQ). Areas outside the buffer zone without confirmed cases will implement a modified general community quarantine (MGCQ), wherein there will be permissive socioeconomic activities with minimum public health standards. The measure aims to isolate areas with large number of Covid-19 cases to minimize the impact of quarantine measures to the economy of an LGU.

Downgraded risk

THE AFP Civil-Relations Service and United Alliance of Off-Roaders Philippines distribute around 7,000 free meals in Pasig City in two days. This is a project of the AFP mobile kitchen. Sgt. Joel Lolo said they also provided security to the civilian component of the mobile kitchen. Aside from free meals, they also gave away free vitamins. President Duterte said earlier he needs the help of the military in giving help to the people. BERNARD TESTA

nearly 40 years. “[There is a need to] limit exposure and contingent liabilities by having highly targeted equity infusion to the most affected industries subject to conditions,” the document stated. The country’s debt-to-GDP ra-

tio was at its highest in 2004 when it reached 71.6 percent, followed by 2003 when it was at 71.1 percent. Economists at that time said the country was on the brink of a fiscal crisis. Austerity measures implemented by the government after

2004 allowed it to cut the debt-toGDP ratio to 65.7 percent in 2005 and 58.8 percent in 2006. In 2011, the country’s debt-toGDP ratio further declined to 48.8 percent. In 2018, the debt-to-GDP ratio reached 38.9 percent.

March domestic liquidity accelerates 12.9%

HE growth of cash circulating in the local economy continued to accelerate in March this year, the Bangko Sentral ng Pilipinas (BSP) reported on Tuesday. The Central Bank said domestic liquidity—broadly measured as M3—expanded by 12.9 percent in March, faster than the 12-percent growth in February. Loans for production are said to have driven the country’s domestic liquidity acceleration during the month, as it grew 12 percent during the period, up from the 9.4 percent recorded in February. The sustained increase in production loans was driven primarily by lending to the following sectors:

MECQ…

A growing cash supply is often beneficial for an expanding economy such as the Philippines, as it provides fuel to the productive sectors of the country. However, an excessively slow growth in M3 could dent the country’s overall growth as especially if it is not enough to fuel productive activities. An excessively high cash supply growth, meanwhile, could stoke inflationary pressures and pull prices upwards for the economy. The BSP noted, however, that their aggressive response to the coronavirus disease (Covid-19) pandemic may affect the future path of domestic liquidity growth. In mid-March, the govern-

ment declared enhanced community quarantine in the country due to the threat of Covid-19. Following this, the BSP crafted measures to ensure increased credit and domestic liquidity. These measures include: a policy rate cut totaling 125 basis points since February 2020; reduction of the reserve requirement ratios of universal and commercial banks and nonbank financial institutions with quasi-banking functions by 200 basis points; conduct of assetpurchase activities in the market (i.e., repurchase agreement with national government amounting to P300 billion and purchase of government securities in the sec-

ondary market); easing of lending to micro, small and medium enterprises (MSMEs) by allowing new MSME loans to be counted as part of banks’ compliance with reserve requirements; and increase of the single borrower’s limit for loans granted by banks and quasi-banks, among others. “The BSP will remain vigilant in monitoring liquidity and credit dynamics amid significant disruptions to economic activity. The BSP reassures the public of its commitment to deploy its full range of instruments to ensure that domestic liquidity and credit remain adequate amid the ongoing coronavirus pandemic,” the BSP said.

ROQUE said other areas currently under ECQ like Regions 3 (except the province of Aurora) and 4-A, the provinces of Pangasinan, Benguet, Iloilo, Cebu, Albay and the cities of Bacolod, Davao and Zamboanga City, are now being considered for possible downgrading of their risk levels to “moderate risk.” Other areas being considered to be placed under moderate risk classification are the rest of the provinces of the Cordillera Administrative Region (CAR), Regions 2, 7, 9, 11 and 13 (Caraga). Moderate risk areas are those with case doubling time of 7 to 30 days and have utilization rate for its critical health-care facilities pegged at 30 percent to 70 percent. Roque said these areas will be placed under GCQ. In such areas, more companies will be allowed to operate. It will also have limited public transportation services and will allow flexible learning. He said the IATF also recommended most provinces under Regions 1, 4-B, 5, 6, 8, 10, 12, and the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) to be classified as low-risk areas, under an MGCQ. Low-risk areas have case doubling time of greater than 30 days and have utilization rate for their critical health-care facilities at less than 30 percent. Roque, however, pointed out the recommendation of the IATF could still be appealed by concerned LGUs up to May 13, before the IATF screening and Validation Committee with the concurrence of the Regional IATF.

PHL keeps Baa2 rating amid virus–Moody’s Continued from A1

“In addition, the combination of lower revenue resulting from weaker economic growth and higher spending to mitigate its impact will lead to wider government deficits and higher debt,” Moody’s said. The Bureau of the Treasury said the national government booked a narrower budget deficit at P74 billion in the first quarter, 17.97 percent down from P90.2 billion a year ago, as spending fell below target.

Dominguez, Diokno: vote of confidence

FINANCE Secretary Carlos G. Dominguez III called Moody’s credit opinion a “vote of confidence” in the country’s financial strength. “The recent credit opinion by the international benchmarker Moody’s validates the resilience of our most fundamental strengths: a young and productive labor force, a responsible approach to debt management, conservative economic and fiscal policies, and an emphasis on infrastructure and

human capital development in our government priority programs,” Dominguez told finance reporters on Tuesday. The finance chief also expects the Philippines’s credit ratings to remain “buoyant” due to the government’s commitment to fiscal and economic reform, including the comprehensive tax reform program and its internationally recognized reputation as a worthy and dependable borrower. “This vote of confidence in our financial strength is the latest in a string of positive reviews, including one from the highly reputable The Economist magazine which ranks us as one of the best among emerging economies in terms of financial strength,” he said. “These reviews demonstrate the international community’s enduring belief in our ability to defeat Covid-19 and bounce back from this pandemic. This confidence will make it easier for us to find the resources and build partnerships that can help resolve this crisis decisively,” he added. Bangko Sentral ng Pilipinas Governor Benjamin Diokno said

DOMINGUEZ: “The recent credit opinion by the international benchmarker Moody’s validates the resilience of our most fundamental strengths: a young and productive labor force, a responsible approach to debt management, conservative economic and fiscal policies, and an emphasis on infrastructure and human capital development in our government priority programs.” AP

Moody’s assessment is a “vote of confidence” in the country’s economic situation amid the global crisis. “Given the unprecedented collapse of the global economy, the recent Moody’s credit opinion of the Philippines—maintaining its Baa2

stable outlook—is actually a vote of confidence on the country’s strong macroeconomic fundamentals and the way the Philippine government is managing the coronavirus pandemic. As I said before, the once-in-a-lifetime Covid-19 crisis hit the Philippines from a position of strength. It has ample fiscal and monetary space,” Diokno said. “While the economy is likely to contract this year, the contraction would be less severe compared to most economies in the world. In fact, barring a second wave of infections, I expect the Philippine economy to have a strong rebound, estimated at 7.8 percent, in 2021,” the governor added.

Banking sector

MEANWHILE, Moody’s assessed the banking sector risk at “a,” noting that “the Philippine banking system as a whole is well-capitalized, profitable and competently managed, thus posing limited contingent risks to the government.” Earlier, it said that capitalization of the industry will remain stable given that rated local banks have

an average common equity Tier 1 capital ratio of 13.7 percent as of end-2019. Still, the local banking sector was given a negative outlook in April amid pressure on profitability due to the pandemic. The Bangko Sentral ng Pilipinas (BSP) recently shared that the banking industry might deal with P556.6-billion nonperforming loans this year as the pandemic constrains borrowers’ liquidity. This can drag the overall profits of the sector markedly, if ever. “We expect the current account deficit to remain narrow and stable in 2020 as the negative impact on exports, tourism, remittances and other services receipts will be offset somewhat by lower oil prices and subdued import demand on account of slower economic growth,” Moody’s added. Last year, the Philippines’s current account deficit went down by 95 percent to $464 million—0.1 percent of GDP—from $8.8 billion in 2018 on the back of lower trade in goods deficits and higher net receipts in the trade in services, BSP said.

Sought for comment, RCBC Chief Economist Michael L. Ricafort said that robust gross international reserves which signal strong external position and effective monetary policy, that helps in easing inflation, supported the country’s credit rating. BSP data showed the Philippines’s dollar reserves stood at $89 billion as of end-March, covering nearly eight months’ worth of imports of goods and services and payments of primary income. The Central Bank also recently slashed rates by 50 basis points, bringing overnight repurchase rate to 2.75 percent. “The country’s improved credit ratings in recent years, at about 2 notches above investment grade, supported by the country’s improved economic and credit fundamentals amid improvements also on fiscal management with fiscal reform measures in place, have helped in the country’s easy access to cheaper financing from the local and international financial markets,” he added. With Bernadette D. Nicolas

www.businessmirror.com.ph

The Nation BusinessMirror

NBI nabs Dagupan teacher who posted about ₧50-M payment to ‘kill’ Duterte By Joel R. San Juan @jrsanjuan1573

HE National Bureau of Investigation (NBI) has arrested a 25-yearold teacher for posting on his social-media account an offer of a P50-million reward to anyone who could kill President Duterte. NBI Officer in Charge Eric Distor identified the teacher as Ronnel Mas who was arrested in Barangay Poblacion, Barangay Sta. Cruz, Zambales, by agents of the NBI Dagupan District Office last May 12. Mas, who is now pursuing a doctorate degree, is teaching Social Studies in Taltal National High School. Mas is facing inquest proceedings for inciting to sedition related to cybercrime, and violation of Republic Act 6713, or the Code of Conduct and Ethical Standards for Public Officials and Employees. In his Tw itter account, Mas posted: “I w il l g ive P50 mil lion reward kung sino makakapatay kay Duter te.” The post had already been deleted albeit too late as it has already became viral. NBI operatives were able to track dow n Mas’s whereabouts by tracing the links of the comments on his post. A video of Mas at the NBI

headquarters showed him pleading to be forgiven by the President, saying that he did not actually mean what he said in his post. He added that he was just trying to gain attention by expressing his personal sentiment in his tweet although he acknowledged that “it was a wrong move.” Mas’s parents also tearfully beg that their son be forgiven, saying that the latter had shown remorse for his mistake. The NBI has been directed to go after groups and individuals who deliberately spread false information about the Covid-19 pandemic in various social-media platforms. Distor warned the NBI is serious in carrying out its mandate to pursue cases involving threats to security, or assaults against the person of the President, as well as that of the Vice President, Senate President, Speaker of the House of Representatives and Chief Justice of the Supreme Court pursuant to its mandate under Section 5 of Republic Act 10867. Meanwhile, Justice Secretary Menardo Guevarra said Mas’s apology “is not one of the grounds for extinguishing criminal liability.” “I cannot feloniously injure another and get away with it by merely saying sorry,” Guevarra said.

Rescued birds of prey placed under quarantine, to undergo rehab at DENR facility in QC By Jonathan L. Mayuga @jonlmayuga

HE two juvenile birds of prey rescued by wildlife law enforcers last week in Barangay Sto. Tomas, Mabini, Batangas, will undergo rehabilitation at the Wildlife Rescue Center of the Department of Environment and Natural Resources (DENR) in Quezon City. “Right now, they are under quarantine and being observed. In two to three weeks, we will start deworming them,” says Glenn S. Maguad, officer in charge of the rescue center. Maguad said the pair of Brahminy kites, not Philippine hawk-eagles as earlier reported, are about 6 to 7 months old. Brahminy kite, like the hawk-eagle, is an endangered species, but are comparatively smaller and sturdier. They weigh only up to 700 grams upon maturity, while hawk-eagles can weigh up to 1.2 kilos. “They are what we call lawin while hawk-eagles are what we call agila,” Maguad clarified. The two rescued Brahminy kites were earlier thought to be hawkeagles by their captors, but upon careful examination by DENR wildlife experts, confirmed they are Brahminy kites, or the common lawin. Nevertheless, Maguad said Brahminy kite are also on the endangered species list. But there’s a catch in rehabilitating these rescued birds of prey. Because they were rescued while they were still a chick and unable to fly, they are already imprinted with their rescuers and have become domesticated, highly dependent on humans for their food, says Rogelio Demelletes, a wildlife law enforcer who facilitated their safe transfer to the DENR Wildlife Rescue Center in Quezon City. The two were being fed with fresh chicken by their rescuers, including 22-year-old Christian Atienza who decided to turn them

over to authorities. “We learned that one time when they were ready to fly, the rescuer tried to set them free. But the two went back and never left the area,” he said. But Maguad said he is confident that they can rehabilitate the two juvenile birds and train them to become hunters during rehabilitation. “These are hardy species and they are survivors,” said Maguad. Unlike eagles that hunt live prey, Brahminy kites are opportunistic hunters and are sometimes scavenging, feeding on dead animals, or carcasses. “In two to three weeks, we will start cleansing them. They will be dewormed and we will make sure they are free of parasites,” Maguad said. He said the two juvenile birds are undernourished and need to be properly fed first and treated before joining other birds of prey at the park. Maguad is confident that the two Brahminy kites will eventually learn to fend for themselves and be ready to be released back into the wild. “Unlike other birds of prey, Brahminy kites easily adapt to their environment,” he said. The challenge, he said, is to make them wild, teaching them to avoid humans. He said for them to learn to hunt on their own, the two will be put in a cage with other adult Brahminy kites. “During rehabilitation, there will be less human interaction so that they will learn to fear humans and become wild,” he said. According to Maguad, it will take the two birds more than a year before they are fully rehabilitated and ready to be released back into the wild. “Once they are ready, we will release them back to where they were found because for sure, their nest is still there and the parents if they are still alive, will call for them,” he said.

Editor: Vittorio V. Vitug • Wednesday, May 13, 2020 A3

PNP files graft raps vs local officials linked to SAP mess

By Rene Acosta

@reneacostaBM

HE Philippine National Police (PNP) has filed cases against some local officials allegedly involved in certain anomalies in the cash assistance distribution of the government’s social amelioration program (SAP). At a virtual news briefing on Tuesday, PNP chief Gen. Archie Gamboa said the charges were filed against officials in Region 3, 5 and 6, without providing any further details. These officials, he said, may be liable for graft and corruption over the money released by the government as a form of cash assistance to poor families affected by the Covid-19. Aside from those charged, the PNP through the Criminal Investigation and Detection Group (CIDG) were also investigating reports of anomalies against 186 other local officials. “Last Saturday, we are able to get a copy of 183 complaints involving more than 183 persons. These 183 cases given by DILG to the CIDG are

still under investigation because we are still getting sworn affidavits,” Gamboa said. “But definitely, there will be cases filed against these officials and the most common that we could file against them is the Anti-Graft and Corrupt Practices under RA 3019,” he added. Meanwhile, the National Capital Region Police Office (NCRPO) talked with security officials of malls in Metro Manila on Tuesday to craft strategies in further enforcing health protocols to fight virus infection. The dialogue, spearheaded by NCRPO chief Major Gen. Debold Sinas, was held in anticipation of the shift in lockdown from the stricter enhanced quarantine to

“But definitely, there will be cases filed against these officials and the most common that we could file against them is the Anti-Graft and Corrupt Practices under RA 3019.” —Gamboa

general quarantine which may be imposed after this week in some parts of Metro Manila. The PNP expects that shoppers may surge into malls and department stores in the capital once the general quarantine is observed, which put the risk of higher novel coronavirus infection. Among the issues discussed during the meeting was for the strict implementation of the protocols on social distancing inside the common areas of malls. Sinas proposed that security officers adhere to the “distance guide per person” wherein only one person is allowed within a 2-square-meter floor area. “The mall security officers shall compute the maximum persons

to be allowed entry based on the aforementioned computation,” the NCRPO said. The entrances and exits of malls would also be limited and controlled while police presence will be strengthened with the putting up of PNP desks outside the establishments. “Human traffic to entrances and exits will be modified. All alleys, hallways, path walks and other medium of convergence shall observe the keep-right and one-way scheme,” the NCRPO said. Waiting in stores, boutiques and shops is prohibited, although under “exceptional circumstances,” store owners may provide seats in observance of social distancing to waiting customers. “We had this dialogue primarily to encourage concerted movement of all law-enforcement agencies and units especially those in charge of areas frequented by our people,” Sinas said. “This is only an initial dialogue. Several others will follow amid the anticipated announcement of the implementation of the GCQ [general community quarantine] by the national government,” he added. Most of Metro Manila’s malls joined the dialogue.

LGUs in TD Ambo’s path OFWs arrive in droves at Naia onboard advised to take precautions 3 separate flights from Japan, Singapore

HE National Disaster Risk Reduction and Management Council (NDRRMC) has advised local officials on Tuesday to be wary of the possible effects of Tropical Depression Ambo, warning the weather disturbance may trigger flooding and landslides in certain areas. As of Monday night, the center of Ambo was spotted at 300 kilometers East Northeast of Hinatuan, Surigao del Sur, with maximum sustained winds of 55 kilometers per hour and gustiness of up to 70 kph. During the pre-disaster risk assessment meeting held at the NDRRMC on Monday, the Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa) said Ambo will bring scattered light to moderate with isolated heavy rains over Mindanao. It may also cause moderate to rough seas in eastern seaboards of Eastern Visayas, Caraga, Davao Oriental and Davao Occidental. The state weather bureau said Ambo may also intensify into a tropical storm and may make landfall over Bicol region on the evening of May 14 or morning of May 15. As such, it said that tropical cyclone wind signal may possibly be

raised over the Bicol region and some parts of Eastern Visayas. “Residents are advised to be vigilant and monitor advisories from the state bureau as Ambo may cause possible flooding in the low-lying areas of Bicol region, Calabarzon, Mimaropa, Central Luzon, Cagayan Valley, National Capital Region, Samar and Leyte provinces,” the NDRRMC said. “Landslides may also occur in the mountainous areas of Bicol, Calabarzon, Central Luzon, CAR and Cagayan Valley,” it added. This early, the NDRRMC warned fishermen and small sea craft not to venture into the eastern seaboards of Eastern Visayas, Caraga, Davao Oriental and Davao Occidental. The NDRRMC said the warning has also been disseminated by the Department of the Interior and Local Government to local officials in the areas that may be affected by Ambo. It also said that the Department of Social Welfare and Development has put on a standby some 412,238 family food packs worth P179 million, as well as P780 million worth of other food and nonfood items and P244 million standby funds for a total of over P1.2 billion worth of standby resources. Rene Acosta

By Recto Mercene @rectomercene

TOTAL of 373 overseas Filipino workers (OFWs) from Singapore and Japan touched down at the Ninoy Aquino International Airport (Naia) on Tuesday onboard three separate commercial flights. The first to arrive was Jetstar Asia 3K 761 from Singapore with 147 OFWs, majority of whom are females, including five pregnant women who are expected to give birth next month. The flight was followed by Singapore Airlines SQ 910 carrying 194 OFWs, then followed by Japan Airlines Flight JAL 741 that flew in from Narita, Japan, carrying 32 passengers. The 373 OFWs underwent swab tests after Bureau of Quarantine (BOQ) personnel collected yellow health cards containing vital information of every passenger who then proceeded to the immigration counters for stamping of passports and where they waited for their transport to bring them to a nearby hotel. The OFWs would have to wait for the results of the test that will take about three to five days. After that, the BOQ will issue certification that the passenger is negative for Covid-19 before they will be allowed to go home.

Those that tested positive will be brought to a quarantine site. Jem Paguio, 31 of Antipolo City and a restaurant manager in Singapore, said that she and his longtime boyfriend were about to get married on March 28, 2020, “but we postponed the wedding due to lockdown imposed by Manila. We plan to get married next year.” The five pregnant women are expected to give birth in June and July this year. “At last we can go home,” they said. The women were identified as Cielo Calderon, 31, of Las Piñas City, Donna Doligol, 30, of Surigao, Cherrie Baron, 30 of Iloilo, Danica Allen Villon 31, of Pasig and another one from Iloilo is expected to give birth next month. Meanwhile, the 32 OFWs onboard Japan Airlines Flight JAL 741 were found to have expired visas. The Media Affairs Division of the Manila International Airport Authority said that seven commercial flights are scheduled to depart Naia terminal on Tuesday. These flights are Jetstar 3K 762 Manila to Singapore, Singapore Airlines Flight SQ 917 back to Singapore, China Airlines Flight CI 704 from Manila to Taipei, Qatar Airways QR 933 to Doha, Sky Ancher (ZA) 493 Manila to Cambodia, Air India 1375 from Manila then back to India, Asiana Airlines and Korean Airlines from Manila to Incheon, South Korea.

DAR cites ARBs’ role in boosting food production in Biliran province

ARMERS with small landholdings in Biliran have put into good use much-needed assistance extended to them by the government that boosted the food production capacity of the province. In a news statement, the Department of Agrarian Reform (DAR) said that despite the implementation of the enhanced community quarantine (ECQ) to control the spread of the coronavirus disease 2019 (Covid-19), members of the seven DAR-assisted farmers’ organizations in the province of Biliran continue to work in their farms not only to earn but also to contribute to government’s call of ensuring food security in the country. “The country is now benefiting from the various livelihood assistance extended by the ARBOs [agrarian reform

beneficiary organizations] in the past. This, aside from the fact that they still continue to earn income amid the crisis that we are experiencing caused by the pandemic,” DAR Regional Director Stephen Leonidas said in a news statement. The DAR-Eastern Visayas disclosed that 31 members of the Anislagan Ceramic Agrarian Reform Cooperative (ACARCO) from Naval, as well as 31 members of the BSF Farm Worker’s and Beneficiaries Agrarian Reform Cooperative, from adjacent Biliran town, continue to supply fresh eggs for their respective communities. The 62 ARBO members are into an egg-layering business which they started when they became recipients of the Convergence of Livelihood Assistance for ARBs (agrarian reform beneficiaries) Project (CLAAP) late last year.

CLAAP is a joint project of DAR and the Department of Social Welfare and Development, which provides livelihood assistance to both DAR’s agrarian reform beneficiary-members of ARBOs and the DSWD’s Pantawid Pamilyang Pilipino Program (4Ps) beneficiaries. In Kawayan town, 44 members of the Ungale Fish Vendors Association continue their business in dried fish processing. These 44 ARBO members were able to avail of financial assistance from the Land Bank of the Philippines through the Agrarian Production Credit Program (APCP) in 2018, which they used as additional capital in sustaining their business. In the municipality of Cabucgayan, the Balaquid Agrarian Reform Cooperative, which is into rice production and trading, continues to supply rice,

contributing to the province’s sufficient supply of the staple food. This cooperative is a recipient of the foreignassisted Agrarian Reform Infrastructure Support Project (ARISP). In Caibiran town, the Nagkakaisang Magsasaka ng Caibiran (NaMaCa) Multi-Purpose Cooperative, sell pork from the swine production of the said ARBO. Meanwhile, 34 ARB members of the Almeria Seafarers Multi-Purpose Cooperative, and nine ARB members of the Villa Rice Farmers Producers Association, both from Almeria town, continue supplying fruits, vegetables and poultry products to local buyers. The two farmer organizations are recipients of Linking Smallholder Farmers to the Markets with Microfinance program. Jonathan L. Mayuga

A4 Wednesday, May 13, 2020 • Editor: Vittorio V. Vitug

Economy BusinessMirror

www.businessmirror.com.ph

‘Drastic’ cut in corporate income tax rate to rescue MSMEs pushed

By Elijah Felice E. Rosales

@alyasjah

HE government will be treading the right path in rescuing private firms, especially micro, small and medium enterprises (MSMEs), if it trims the corporate income tax (CIT) rate to 25 percent the soonest, industry leaders said on Tuesday.

Legislative-Executive Development Advisory Council Private Sector Representative George T. Barcelon said a “drastic” CIT cut will relieve a lot of firms struggling to survive the ill effects of the coronavirus pandemic. In particular, MSMEs will benefit from any state move to reduce the CIT rate to 25 percent immediately, he added. “This accelerated CIT reduction is a big help to business establishments, especially in view of present financial challenges,” Barcelon told the BusinessMirror. Government economists are now

proposing the legislation of the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE) bill. The measure will serve as the repackaged version of the Corporate Income Tax and Incentives Rationalization Act (Citira), which got stuck in the Senate after its passage in the House of Representatives last year. As the second package of the government’s Comprehensive Tax Reform Program, the CREATE bill seeks to lower CIT rate to attract investors to the country. On the first year of its implementation, the CREATE bill will reduce

CIT to 25 percent, from 30 percent at present, the highest rate in the whole of Southeast Asia. This is a drastic change in comparison to the Citira bill’s provision of gradual lowering by 1 percent yearly until corporate tax rate hits 20 percent by 2029. However, government revenue is projected to decrease by as much as P227 billion until 2022 resulting from the immediate cutback in CIT rate. In spite of the anticipated impact on state collection, Barcelon argued the largest concern right now for the government should be rescuing MSMEs from bankruptcy. Economic managers, he added, appear to be okay with budget deficit going beyond target for as long as the economy is revived at the end of the day. “I believe the government is willing to accept bigger budget deficit to assist in the revival of our economy,” Barcelon explained. For his part, Philippine Exporters Confederation Inc. President Sergio R. Ortiz-Luis Jr. said that an accelerated tax cut will only benefit a few firms. He argued there is little point in carrying out such fiscal move, as corporations and MSMEs alike are

likely to declare losses this year. “I think it’s a good move to make it [CIT rate] 25 percent on the first year,” Ortiz-Luis said over the phone. “However, it will not affect many companies because they will be declaring losses. Because of the pandemic, many firms won’t even declare income.” The most important thing to do at the moment, Ortiz-Luis said, is to pass the stimulus package filed in Congress. The stimulus package will ensure there will be money going around, and this will boost business and consumer confidence in the time of the pandemic. In a letter to legislators last week, exporters called for the passage within a month’s time of the Philippine Economic Stimulus Act bill that seeks to inject cash in various sectors, such as to MSMEs, to rejuvenate the economy in the lockdown aftermath. Moreover, Ortiz-Luis pleaded with the government to stop worrying about a revenue drop as a result of a drastic CIT rate cut. The last three tax measures signed into law—the Tax Reform for Acceleration and Inclusion law, Rice Liberalization Act and the Tobacco Tax Law 2019—are

all expected to bring in additional money to state coffers, he added. “There are different laws that were passed that can balance out any deficit,” the industry leader argued. “The government can balance this out with the other tax laws. Let’s not act like it was a single tax reform package; it has many.” “If there will be losses, and surely there will be, it was really assumed as a given because of the pandemic. There will be other areas where the government can source money,” he said. The Citira bill, the initial version of the CREATE bill, hurdled the House of Representatives last year but failed to slip past the Senate, as senators are worried about the potential impact of the incentives rationalization component to investments and employment. Aside from reducing corporate tax to 20 percent by 2029, the Citira bill will overhaul the fiscal incentives granted to firms operating in economic zones. As such, economic zone locators are strongly opposed to the measure, warning that the removal of their tax perks will compel them to relocate to another Southeast Asian country and leave thousands jobless here.

IAEECC mandates 10% energy saving goal to all govt agencies By Lenie Lectura

@llectura

HE Inter-Agency Energy Efficiency and Conservation Committee (IAEECC) chaired by the Department of Energy (DOE) has directed all government agencies to implement energy conservation projects that will result in at least 10-percent cost savings. This move, it said, is meant to curb the spread of Covid-19. “In compliance with RA 11469, or the Bayanihan to Heal as One Act, the NBC [National

Budget Circular] and the GEMP [Government Energy Management Program], all concerned government agencies are enjoined to implement energy conservation projects and measures to achieve at least 10-percent cost savings in the petroleum products, air, steam and electricity consumption that would result to the addition to government’s resources to contain the spread of Covid-19,” it said in an advisory posted at the DOE web site Tuesday.

Citira, now CREATE, cuts CIT to 25%; means P259B in revenue loss till 2022

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He also backed the proposal increasing the sunset provision by two years across the board. “I welcome the effort to make Citira more responsive to Covid-19. The House—approved version anticipated the structural need to reduce population density in NCR through Balik Probinsya by providing twice the incentives for investments in countryside development,” he added. According to Salceda, this proposal will be tackled during the congressional bicameral conference committee meeting as the House already approved on third and final reading its version of the bill. “As a matter of strategy, we await the Senate version and introduce these Covid provisions in bicam,” he said. On the Nolco provision, Salceda said the House of Representatives has already included the Department of Finance proposal extending the enhanced Nolco for small business for five years from the current three years, with the government absorbing as much as P139.6 billion in the form of forgone tax payments to help these enterprises recoup their losses.

Raising revenue

MEANWHILE, Chua said the government is looking for other options to raise its revenues starting this year. The government is studying the digital economy VAT and the new health sin tax. Under the digital economy VAT

proposal, Chua said all non-residents that registered e-commerce platforms are responsible for withholding VAT from clients. He said this proposal will provide additional revenue for the government of P15 billion in 2021, P16.6 billion in 2022 and P18.4 billion in 2023. On the health sin tax, Chua said the government is eyeing to implement a 6-percent indexation on sweetened beverage tax while imposing 8-percent ad valorem tax to junk food with high trans fat and high salt. This will give government additional revenue of P3.7 billion in 2021, P7.3 billion in 2022 and P11.7 billion in 2023. Also, Chua backed Salceda’s proposals increasing the Motor Vehicle Road Users’ Tax (MVRUT), a proposal under House Bill 4695 that could provide government P40 billion in additional revenue in three years. Chua also supported passage of Salceda’s House Bill 5267 requiring Philippine Offshore Gaming Operations (POGOs) to pay a 5 percent tax on gross receipts from their operations covered by the law granting their franchise. Foreign employees working for POGOs would also be presumed to earn P600,000 and pay a 25 percent tax on their salaries, wages, annuities, compensation, remuneration, honoraria, and allowances. Chua said the Palace already implemented through Executive Order 113 the temporary 10-percent increase on fuel tariff, which will also provide additional P3.7 billion revenue to the government.

The committee said the energy efficiency and conservation projects, programs and measures shall be reported by each government agency with target savings, motor vehicle inventory and other strategies consistent with the GEMP to the DOE copy furnished the Department of Budget and Management (DBM). The advisory was signed by Energy Secretary Alfonso Cusi last May 8 and issued to the DBM, Department of Finance, Department of Trade

and Industry, Department of Transportation, Department of Science and Technology, Department of the Interior and Local Government, and the Department of Public Works and Highways, and the Director General of National Economic and Development Authority. Section 9 of the RA 11285, or the Energy Efficiency and Conservation (EEC) Act, tasked the IAEECC to evaluate and approve government energy efficiency projects and to provide strategic direction in the

implementation of the GEMP. Section 43 of the EEC Act implementing rules and regulations stated that the GEMP shall cover all government agencies, including all departments, bureaus, offices, agencies, branches and instrumentalities or political subdivisions, GOCCs, including its subsidiaries or other self-governing board or commission of the government, LGUs, state universities, and colleges.

Citira or stimulus bill? Senators eye priorities after Covid-19 damage Caution from Gordon

FOR his part, Sen. Richard J. Gordon observed that Citira in its present form also proposes the removal of fiscal incentives and is not just a reduction in corporate income taxes. “We caution our economic managers from pushing for any tax measure during this Covid-19 pandemic,” Gordon said. He added that “the provision of immediate financial assistance for the business sector should be made on condition that they wtould not be retrenching any of their existing employees.” As for the Senate adopting the House PESA version, Gordon assured that “we will support any proposed measure that will help our families and industries adjust to the new economy brought about by the Covid-19 pandemic.” He believes “this stimulus package should include the provision of financial assistance for MSMEs [micro, small and medium enterprises] and exporters, wage subsidies and livelihood assistance for affected workers and continued provision of cash grants for families still living in areas under the modified enhanced community quarantine,” he added. For his part, Sen. Panfilo Lacson clarified that “my only issue on

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Citira is the tax rates on Pezaregistered companies,” pointing out that “20 percent will drive them away to relocate to other Asian neighbors.”

Caucus possible

SEN. Aquilino Pimentel III expects the Senate leadership to convene an all-senators caucus to get a consensus on other options granting relief to businesses if the Citira is not passed before the upcoming adjournment of plenary sessions. “We might have a caucus later precisely to answer these questions,” Pimentel said in reply to text queries from the BusinessMirror. Sen. Cynthia Villar endorsed the suggestion of Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno for the Duterte administration to provide “emergency employment” to Filipinos to stimulate the country’s socalled new economy and to ease the effects of the pandemic to people. According to Diokno, as the government moves into the next phase of the road to the “new economy” it should focus on a quick disbursing, employment-creating program, suggesting that the budget can be increased by a percentage or two, equivalent to P200 billion to

P400 billion that could be used for emergency employment and create 2 million jobs. Villar has been pushing for the opening of laborintensive sectors such as agriculture, construction and manufacturing to avoid social unrest since many Filipinos are getting agitated due to lack of income or livelihood. In a statement, Villar recalled Diokno saying the 2 million jobs will be dispersed throughout the country. And the workers can get involved in green project such as cleaning of rivers, treeplanting, etc.), public works project (road maintenance, fortifying sea walls, social housing) agriculture or health projects (contact tracing, maintenance work in Covid-19 facilities, etc.). Villar said emergency employment is a “very timely solution” as more employees or workers may be displaced due to the ongoing pandemic. “We will be hitting two birds with one stone with this recommendation—provide employment and provide the needed impetus to our economy; both are urgently needed with the prolonged Covid-19 infection. Jobs have a multiplier effect [on] the economy,” the senator added.

Bountiful rice supply in lean months ahead, DA chief says By Jasper Emmanuel Y. Arcalas @jearcalas

HE Department of Agriculture (DA) on Tuesday stood pat on its rice supply projections and remained firm that its target local output would be met with the country ending the year with decade-high inventory. In a news statement, Agriculture Secretary William D. Dar reiterated that the country will have enough staple for the entire year, especially with the upcoming lean months starting July. “We remain consistent that our total projected supply of rice by end of December 2020 would be 17.994 million metric tons [MMT], while our total projected demand would be 14.668 MMT, leaving a year-end inventory of 3.326 MMT,” Dar said. “This, in turn, serves as our beginning inventory in January 2021, which is good for 94 days’ supply,” Dar added. If the DA’s projections materialize, then this could be the highest carryover stocks inventory in a decade since 2011, when it reached a record-high 3.42 MMT, based on historical Philippine Statistics Authority (PSA) data. The DA explained that it has taken into considerations the following in its projections: beginning stocks of the year; total domestic palay production; total rice imports, including government’s 300,000 MT importation. The DA added that it gathered figures from PSA, Bureau of Customs (BOC) on rice imports, other relevant government agencies, and regional field offices (RFOs) in tandem with local government units (LGUs), on palay production. Citing PSA’s supply utilization accounts, the DA said about 12.9 MMT of the total projected demand of 14.488 MMT would be consumed as food by the country, while the remaining volume would be for seeds, feeds and industrial uses. “We hope this will clarify issues on our rice supply, demand, and consumption situation. Again, we assure the nation that the DA is doing its best to secure the country with enough and affordable food for all. Our programs to make this happen are already in place to help our farmers and fisherfolk,” Dar said. Last week, the Federation of Free Farmers (FFF) cautioned the DA against “over-importation” as it could cause palay farm-gate prices to fall anew during the wet harvest season. FFF pointed out that the DA’s year-end rice inventory projection is too dependent on the importation of over 2 MMT by the private sector. “Even though Covid-19 has tempered the inflow of imports for now, there is nothing to stop private traders from bringing in larger volumes again if the opportunity rises. This could again create a glut in the market and depress prices during the wet harvest season later this year,” the group said.

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

The World BusinessMirror

Trump says ‘we have prevailed’ in testing as deaths top 80,000

resident Donald J. Trump declared on Monday at a White House news conference on the coronavirus outbreak that “we have prevailed,” as US deaths from the disease exceeded 80,000—a remark he later said pertained only to testing for the infection. “Thanks to the courage of our citizens and our aggressive strategy, hundreds of thousands of lives have been saved,” Trump said. “In every generation, through every challenge and hardship and danger, America has risen to the task, we have met the moment and we have prevailed.” Trump’s news conference was intended to celebrate his administration’s long-ingestation success at expanding testing for the coronavirus. But the president swiftly found himself on the defensive under questioning from reporters, and he abruptly ended the event after an awkward exchange over China with an Asian-American reporter. “Americans do whatever it takes to find solutions, pioneer breakthroughs and harness the energies we need to achieve a total victory,” Trump said in his opening remarks. “Day after day, we are making tremendous strides with the dedication of our doctors and nurses, these are incredible people, brave people, and these are warriors. “With the devotion of our manufacturing workers, food suppliers and lab technicians and with the profound patriotism of the American people, we will defeat this horrible enemy, we will revive our economy and we will transition into greatness,” he said.

‘Prevailed on testing’

Asked later about his remark that the US had “prevailed,” Trump said he was only talking about testing for the virus. The US didn’t exceed 100,000 coronavirus tests performed until March 19, according to data compiled by the Covid Tracking Project, but more than 300,000 tests were conducted daily on Thursday, Friday and Saturday. “We’ve prevailed on testing,” Trump said. “You never prevail when you have 90,000 people, 100,000, when you have 80,000 people as of today. What I’m talking about is we have a great testing capacity now.” There have been more than 1.3 million cases of Covid-19 in the US, according to data compiled by Bloomberg. The growth of the outbreak has slowed, as cases increased by about 20,000 on Sunday and there were 733

deaths nationwide. Admiral Brett Giroir, the assistant secretary for health, said that the US should shortly be on a pace to conduct 9 million tests per month. Brad Smith, the director of the Centers for Medicare and Medicare Services Innovation Center, said that the federal government will supply states with test materials through June, and described a surplus of about seven million tests, saying the majority of those were from Thermo Fisher Scientific Inc. A spokesman for the company referred a reporter back to Smith. The news conference grew testier. Philip Rucker, a reporter for the Washington Post who has published a book on Trump’s presidency, asked Trump about tweets over the weekend in which the president promoted a conspiracy theory that President Barack Obama had committed crimes in office. At one point, Trump tweeted that Obama’s was “the most corrupt administration in office.”

China exchange

Rucker twice asked Trump what crime he thinks Obama committed, specifically, and whether he believes the Department of Justice should prosecute the former president. Trump didn’t answer directly. “You know what the crime is,” he said. “The crime is very obvious to everybody. All you have to do is read the newspapers, except yours.” Trump abruptly ended the news conference shortly after an exchange with Weijia Jiang, a reporter for CBS News who was born in China. Jiang noted that Trump has repeatedly boasted that the US now leads the world in the number of coronavirus tests performed and asked him, “Why does that matter? Why is this a global competition to you if every day Americans are still losing their lives and we’re still seeing more cases?” “They’re losing their lives everywhere in the world and maybe that’s a question you should go ask China,” Trump said. “Don’t ask me, ask China that question, okay?” Jiang responded: “Sir, why are you saying that to me, specifically, that I should ask China?” “I’m telling you,” Trump said. “I’m not saying it specifically to anybody. I’m saying it to anybody that would ask a nasty question like that.” Trump left the Rose Garden after the next reporter he called on, CNN’s Kaitlan Collins, deferred to Jiang to continue her questions.

Bloomberg News

City of Light awakens slowly after 2-month slumber to world it lost

ARIS—After a two-month freeze, Paris slowly awakened on Monday to the world it had lost under lockdown as hairdressers, florists, nail salons and some other businesses reopened—but under mandatory social distancing requirements. Like a just-awakened sleeping beauty, the City of Light needed to rub its eyes on the first day of relaxed home confinement rules. Shopkeepers trying to recover losses may need to wait days for Parisians to rediscover the daily habits from before the coronavirus halted most public life. “It’s a bit an act of faith today,” said Edouard Lefebvre, who heads the business district on the Champs-Elysees Avenue, packed with crowds of locals and foreign tourists in normal times. Only half of the avenue’s shops were open on Monday, Lefebvre said, reflecting the extensive preparations needed to safely receive customers and the hesitant steps many people took toward pre-pandemic routines. “Clients won’t come back in day one. It takes time to get used to coming back to the ChampsElysees, to come back to Paris,” Lefebvre said in an interview with the Associated Press. Vehicles began filling streets again, but there were no traffic jams reported, and numerous people used bicycles to get around. Restaurants and bars—at the heart of France’s proverbial joie de vivre—are still waiting to learn when they will be back in business and cafe life can resume under the French government’s phased-in lifting of restrictions it imposed to stem the country’s coronavirus outbreak. S o m e Pa r i s i a n s c o u l d n’t re s i s t t h e temptations of their newly-recovered freedom, and conviviality was accompanied by wine or beer. As the sun set over the picturesque Canal Saint Martin, youths gathered for conversation, standing shoulder-to-shoulder or sitting knee-to-knee on the ground—until police moved in with a megaphone to disperse the crowd. The Paris police chief later issued a ban on consumption of alcoholic drinks along the banks of the Seine River, saying he “deplored” having to take action to ensure distancing on the first day of de-confinement. France was hit hard by Covid-19, recording more than 26,600 virus-related deaths as of

Monday night. The virus still is circulating. Authorities, trying to strike a balance between public health and boosting the economy as cases plateaued, reopened numerous sectors around the country. They will reassess the situation in three weeks, wary of a second wave. Parisians grown used to hearing birds a n d s m e l l i n g c l e a n a i r f ro m w i n d ow s during lockdown may find some aspects of deconfinement unpleasant, like motorists honking their horns and the heavy equipment at the capital’s thousands of construction sites, a source of inconvenient detours and noise that drowns out the sounds of nature. A construction worker on a Left Bank residential project that’s been in the works for two years said it was a pleasure to be back on the job after a period of home confinement that got a bit long. To guard against exposure to the virus, masks are obligatory for workers, hand sanitizer dispensers are in place around the huge site, and crews use one-way routes to move from floor to floor to maintain social distancing. Parisians donned heavy coats against a blustering wind and colder weather to stroll through their neighborhoods without the permission slips they needed to venture out for just a few permitted purposes: food shopping, short jogs and imperative business. Now, the French can travel legally within a radius of 100 kilometers (60 miles) from their homes. For many shopkeepers, survival may depend on quickly enchanting everyone again, a special challenge with distancing rules that keep some waiting at the door to enter. “It will be a return, but slowly,” said florist Iswar Boodhoo whose shop is located on a strategic corner of the Montparnasse area, a Left Bank entertainment haunt. “People haven’t been working. They have lots of problems and flowers are a luxury,” he said. Lefebvre, of the Champs-Elysees business district, bemoaned what he said has been an 18-month-long economic “disaster” for Paris, from the weekly demonstrations by yellow vests movement protesters, to a major transportation strike over pension reform and then the coronavirus crisis. AP

Wednesday, May 13, 2020

WHO: 7 or 8 ‘top’ candidates for coronavirus vaccine exist

NITED NATIONS—The World Health Organization chief said on Monday there are around seven or eight “top” candidates for a vaccine to combat the novel coronavirus and work on them is being accelerated.

WHO Director-General Tedros Adhanom Ghebreyesus told a UN Economic and Social Council video briefing the original thinking two months ago was that it may take 12 to 18 months for a vaccine. But he said an accelerated effort is under way, helped by 7.4 billion euros ($8 billion) pledged a week ago by leaders from 40 countr ies, organizations and banks for research, treatment and testing. He said the $8 billion will not be enough, and additional funds will be needed to speed up the development of a vaccine, but more importantly to produce enough “to make sure that this vaccine reaches everyone—(and) there’s no one left behind.” “We have good candidates now,” Tedros said. “The top ones are around seven, eight. But we have more than a hundred candidates.” “We are focusing on the few candidates we have which can bring probably better results and accelerating those candidates with better potential,” he said. Tedros did not identify the top candidates. Since January, he said, “WHO has been working with thousands of researchers all over the world to accelerate and track vaccine development from developing animal models to clinical trial designs and everything in between.” Tedros said there is also a consortium of more than 400 scientists involved in vaccine development and diagnostics. The WHO chief stressed that Covid-19 is “very contagious and it’s a killer,” with over 4 million cases now reported to WHO and almost 275,000 lives lost. While new cases are declining in Western Europe, they are increasing in Eastern Europe, Africa, Southeast Asia, the eastern Mediterranean and other regions, he said. Tedros said “the pandemic is teaching us many painful lessons,” especially the importance of having strong national and regional health systems. “And yet on current trends, more than 5 billion people will not access these essential services by 2030”—the ability to see a health worker, access essential medicine, and have running water in hospitals, he said. He stressed that as the response to Covid-19 continues, nations must also lay the foundations for a healthy, safer and fairer world. “The world spends around $7.5 trillion on health care each year, almost 10 percent of global GDP, but the best investments are in promoting health and in preventing disease at the primary health care level which will save lives and save money,” Tedros said. UN Deputy Secretary-General Amina Mohammed told the briefing that all nations are “in it together” but the immediate priority must be the most vulnerable countries and communities. She called for a new debt relief program for vulnerable countries so their economies can recover.

A nd she sa id measu res to protect and stimu late the economy, f rom cash t ra nsfers to cred its a nd loa ns must be

t a rgeted at women “who ma ke up t he major it y of t hose in t he hardest-hit infor mal economy, a nd who a re at t he foref ront of t he commu nit y response.” The head of the International Labor Organization said the UN agency estimates the equivalent of 305 million full-time jobs will be lost around the world in the second quarter of this year, which ends on June 30. ILO Director- Genera l Guy Ryder told the briefing that by comparison, only 22 million fulltime jobs were lost immediately when the financial crisis hit in

2008-2009, “so you can see we’re in an entirely different place.” Ryder said it’s also often forgotten that 60 percent of the global workforce of 3.3 billion have jobs in the informal economy, most of them women. He said the ILO estimates that in the first month of the pandemic, with lockdowns and economic shutdowns, “these people have lost on average 60 percent of their income, their revenues from work.” And they are concentrated in countries with scarce resources and the weakest social protection systems, he said. AP

A6 Wednesday, May 13, 2020 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Helping OFWs ride out the Covid-19 storm

ore than a hundred million Filipinos are either related to an overseas worker or have friends that are working abroad. Millions of Filipino workers have invaded all corners of the globe, powering the industries and economies of 121 countries and territories (See, “Pandemic, lockdowns test global endurance of overseas Filipinos’ spirit,” in the BusinessMirror, March 26, 2020). Overseas Filipino workers (OFWs) are the country’s ambassadors of goodwill as their excellent service allows the Philippines to garner a favorable impression from foreign governments and businessmen.

Data from the Philippine Overseas Employment Administration showed that there are 8.26 million OFWs as of 2017. Based on POEA’s 2017 data, countries in the Middle East and Asia and the Pacific were the top destinations of our migrant workers. According to the Bangko Sentral ng Pilipinas, cash remittances sent by Filipinos working abroad hit a record $30 billion last year, 4.1 percent higher than the $28.94 billion they remitted in 2018. Money sent by OFWs help keep the Philippine economy afloat, allowing the country to emerge from numerous crises relatively unscathed. Aside from fueling consumption spending—the country’s major growth driver—OFW remittances also prop up the Philippines’s gross international reserves. Dollar reserves are the country’s external liquidity buffer to cover the imports of goods and payments of services. Families of Filipino health-care workers, seafarers, household service workers, and construction workers were instrumental in the expansion of local food and retail industries. The property, manufacturing, and automotive sectors were also beneficiaries of the OFWs’ largesse sent to their families. The money received by OFW families enabled them to eat good food, buy home appliances, send their children to school, drive a car, and purchase a house in the Philippines. However, thousands of these OFWs, who have endured the pain of being separated from their loved ones for many years, are returning to the Philippines. And their homecoming is one that is fraught with fear and uncertainty, as the Covid-19 pandemic that has killed thousands all over the world has limited their employment opportunities. Their skills, once in demand in other countries, are not needed for now as the lack of a Covid-19 vaccine would make it difficult to reopen restaurants, offer more flights and cruises, and reboot economies. We urge policy-makers to include in their deliberations on the stimulus bill the welfare of returning OFWs, to help them cope with their displacement. Funds being requested by the Overseas Workers Welfare Administration are just for the repatriation, accommodation and transport needs of OFWs (See, “OWWA needs P2.5 billion more for repatriates,” in the BusinessMirror, May 11, 2020). Policy-makers should consider measures that will enable the local jobs market to absorb these displaced OFWs in hammering out a stimulus package to bring the Philippines back on track to its growth path. Efforts of the Department of Foreign Affairs to bring home displaced and stranded OFWs are laudable. However, the P10,000 cash aid given to the repatriated OFWs is simply not enough. We call on lawmakers crafting a stimulus bill to thank our modern-day heroes for their contribution to the Philippine economy by giving them and their families the means to ride out the storm that is Covid-19. Since 2005

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SSS non-working spouse coverage: A salute to our household queens Aurora C. Ignacio

All About Social Security

he Covid-19 pandemic didn’t stop us celebrating Mother’s Day last Sunday. Each one of us designed our own gimmick of giving special tribute to the most important woman in our lives—our mother. To show our love and appreciation, we prepared her favorite dish, freed her from all household chores for the day, gathered the whole family to watch her favorite K-Drama series, bought her favorite dessert or flowers (thanks to our Grab, foodpanda and Lalamove frontliners), spent long chats with her, viewed some photo slideshow of our bonding moments together, or simply gave her a sweet kiss and hug. With all these sweet gestures, there’s this one significant thing that all mothers appreciate, and they will forever treasure this for the rest of their lives—TIME. Spending quality time with our mom is perhaps the most precious gift that we can give her for raising and nurturing us, her children, with unconditional love. Juggling multiple tasks such as working on a daily job, aiming for career growth, managing the household, taking care of her husband, and raising her kids is not that easy. Same with the homemakers or most commonly known as “housewives.” They work more than eight hours a day in preparing and serving healthy

and delicious meals for the family, keeping the household clean and tidy, as well as taking care of the family budget to manage all household expenses. But being a homemaker not only involves a woman working within a secured structure, it’s more of a lifelong devotion of keeping the family together, as well as raising and instilling the proper values in their children to become good and responsible citizens. In reality, homemakers really don’t get paid for this “noble profession.” In fact, based on the preliminary results of the October 2016 Labor Force Survey [LFS] by the Philippine Statistics Authority,

female unemployment rate is 4.3 percent, which is equivalent to 727,000. However, some of the unemployed females reported by PSA are SSS voluntary members. Special treats such as lunch or dinner dates, pamper time in salon and spa, or simply saying “thank you” are ways of giving back to our fulltime homemakers. But seeing their importance in our lives, they deserve more than the temporary joys that we provide them daily. As the current head of the state-run pension fund, I believe that SSS membership is the best gift that we can give to our household Queens. The coverage of Non-Working Spouse (NWS) started in 1995 where the legal spouse of an SSS member— whether employed, self-employed or overseas Filipino worker (OFW) who is currently paying SSS contributions, can be registered as SSS member. To qualify for this particular membership category, the legal spouse’s age should not be more than 60 years old. In these current times, it is not just confined to the female population, since some househusbands as they say (by circumstances) also stay at home to manage the household and the kids while the wife works. Based on available data as of December 2019, there are more than 3,600 covered male and female Non-Working Spouses, 73 percent of whom paid their monthly premiums

to SSS from January to December 2019, which is equivalent to over 2,600 members. To register an individual under the NWS category, a duly accomplished Personal Record Form (SSS Form E1) should be submitted. In case the individual is already an SSS member and wants to change membership status to NWS, a Member Data Change Request Form (SSS Form E-4) should be filled-out. Since the working spouse is responsible in paying his wife’s or husband’s SSS contributions, the working spouse’s signature is needed to signify approval for the non-working spouse’s membership. Also, the marriage contract and government-issued IDs should be presented as supporting documents upon registration. The monthly contributions of the non-working spouse is equivalent to 50 percent of the working spouse’s Monthly Salary Credit (MSC). If the working spouse is receiving the maximum monthly salary credit, 50 percent of it is P10,000, which is equivalent to P1,200 per month. Payments can be made either on a monthly or quarterly basis to any SSS Tellering Facilities, SSS-accredited partner banks and other payment partners. They can also pay online using SSS Mobile Application via PayMaya or through their My.SSS account via Moneygment once the Member See “SSS,” A7

We can’t wait until it’s safe to lift lockdowns By Faye Flam | Bloomberg Opinion

fficials in the US have undermined hopes of a successful economic reopening because they’ve garbled public messaging, never clearly explaining why strict lockdowns were imposed in the first place. They’ve failed to communicate what the lockdowns are achieving for us, let alone what criteria should be used to lift them.

It’s intuitive to think there must be enormous benefits to something that’s crushing businesses and career dreams, creating long lines at food banks, disrupting education and imposing, for those cooped up alone or with abusive family members, a brutal psychological toll. And yet there was primarily one, relatively limited goal: Preventing transmission from spiking so sharply that hospitals overflow with patients. (As a secondary benefit, the disease should become less deadly over time as doctors improve their ability to treat it.) Keeping people apart through voluntary social distancing or mandates to stay home can’t defeat the virus; it isn’t going away until a chunk of the population develops immunity.

Once lockdowns are lifted, cases will spike here and there. That was always going to be true. But as long as hospitals don’t become overrun, lockdowns may have served their purpose. The public messaging has been all wrong, says risk communication consultant Peter Sandman. Whether it’s on MSNBC or Fox, viewers are told that lockdowns should be lifted when “it’s safe.” “That’s unachievable,” says Sandman, who is co-author, along with his collaborator and wife Jody Lanard, of a May 6 report on Covid-19 crisis communication for the Centers for Infections Disease Research and Policy. Sandman said many prescient

things when I interviewed him about Covid-19 in early February. He had anticipated the behavior of the virus to spread around the globe, and the disruption it would cause. But he didn’t anticipate how badly political and public health leaders would bungle the situation. “We were aghast,” he says, referring to himself and others in the risk communication business, when the US failed to organize testing and contact tracing early. Then leaders resorted to measures that were both draconian and impotent. There were lots of preparedness plans drawn up during previous pandemic scares, and none of them included mass lockdowns. The message to “flatten the curve” is catchy, but it may be wrongly implying that this pandemic will rise and fall with a single peak. Epidemiologists say it’s more likely the disease will either expand into a large second peak or rise in intermittent hills for several years. The whole idea of flattening the curve is to distribute the infections over a year (or more) rather than weeks or months. That

can save lives by preventing anyone from dying for lack of hospital care. It’s a nuanced message to get across, to be sure. “Not one in a hundred people understand the distinction between preventing a death and postponing a death,” says Sandman. When Wuhan was locked down, he says, “We thought it was a horrible Chinese aberration.” Part of the confusion may stem from the success in China, where the government appeared to “crush” the curve with decisive lockdown measures. There was a lot more going on than just lockdowns, however. During those shutdowns, there was intense testing and contact tracing to quarantine those most likely to be infected. Infected people were made to go to special facilities, spending a couple of weeks away from family members, heeding evidence that the virus spreads mostly within households. By focusing on where the virus was most likely to be, rather than treating everyone as equally infectious, they were able to drive their infection rate way down. See “Flam,” A7

Opinion BusinessMirror

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Negative oil is positive for clean power

By Liam Denning | Bloomberg Opinion

ne word explains oil’s recent crash to negative prices: inertia. Those barrels in the pipeline, and the forces that put them there, don’t respond quickly to sudden change. Supertanker symbolism aside, that matters in a real way for a defining competition of the energy transition: oil versus electricity. Investors paid to offload their oil futures on April 20 because they couldn’t take physical delivery of the barrels. Oil is toxic; bring some home and it could kill you. If tanks aren’t available or too expensive—because, say, a pandemic has led to a rush of spare barrels into storage—then you’ll pay someone to take it. Less than a month on, oil continues to back up in the system, and price signals are starting to do their job: forcing wells to shut in. There’s an inherent lag to this. Producers are reluctant, fearing a well may never flow properly again. Corporate structures built atop the well, ranging from contracted pipeline space to debt covenants, also encourage keeping the flow going. Electricity markets deal with this issue frequently for the simple reason storage isn’t usually an option; storing electrons at scale remains expensive. The power market must balance in real time, and the increasing penetration of renewable energy complicates that, as the sun shines when it shines and the wind blows when it blows. Moreover, without fuel to burn, the marginal cost of wind and solar power is effectively zero—or less due to subsidies— meaning it can make sense to simply offload negatively priced electrons. So we have two markets where seemingly inflexible supply running into low demand can produce negative prices. Except that they are completely different. The oil market’s long-standing assumption is this: While demand and prices follow cycles, the broad trend is up and to the right. Hold any assumption long enough and it breeds complacency — and inflexibility. The oil industry has long been comfortable investing billions in oil fields that don’t produce a barrel for years because, ultimately, someone would always take that barrel. “Low background growth, rigid supply, demand slumps and limited storage have now added oil and gas to the mundane electricity market phenomenon of negative pricing. Business as usual is over,” says Harry Benham, a former oil professional and now chairman of Ember Climate, a non-profit think tank. Covid-19 provides an extreme reminder of the risks of taking demand growth for granted in the face of climate change and a backlash against globalization. The industry talks up plastics, but transportation is its killer app at almost 60 percent of demand. Electrification is encroaching on that. While cheaper oil supports demand, it won’t create whole new forms of consumption. Electricity has an inherent edge in that respect: Spare electrons tend to invade or even create markets. Back in the 1930s, building the colossal Grand Coulee hydroelectric dam on the Columbia River was regarded as “insane,” given the lack of demand for power in the then-sparsely populated Pacific Northwest. As it turned out, within a decade, the dam’s output was smelting enough aluminum to build half the US Air Force. Grand Coulee’s example urges us to think about energy in an age of ample supply but uncertain demand—the opposite of the 20th century experience. This involves an increasing amount of competition between molecules and electrons, where there are important functional differences. A barrel of oil isn’t a product in its own right; it’s an input to other processes. Even free oil isn’t free, since it needs physical transformation to be useful. Electrons, meanwhile, arrive at an end user ready to go—a finished input into lighting, refrigeration, data processing, arc welding, whatever, and no matter what the

A barrel of oil isn’t a product in its own right; it’s an input to other processes. Even free oil isn’t free, since it needs physical transformation to be useful. Electrons, meanwhile, arrive at an end user ready to go—a finished input into lighting, refrigeration, data processing, arc welding, whatever, and no matter what the scale. It’s as useful to an aluminum smelter as to a Tesla as to an electric toothbrush. scale. It’s as useful to an aluminum smelter as to a Tesla as to an electric toothbrush. This flexibility extends to curtailing or reassigning electricity supply, which can be done without nearly the same stress on the system as for oil. A power plant can reduce or shut off capacity, or isolate or give away its output. There is a cost involved and technical constraints on ramping up and down for coal and nuclear plants in particular. But no one says the plant can’t ever come back on (unless it just doesn’t pay to do so). Plus, there is inherent flexibility and resiliency in a connected grid with multiple generation sources. Power demand, too, can flex to absorb supply and even shape its demand curve to match, as Google demonstrated last month with its data centers. Shifting oil demand, outside of simply not driving under lockdown, takes far longer; the average US vehicle is on the road for almost 12 years. At the heart of all this are emissions and climate change, where inertia will ultimately undo us. There is now real potential for abundant, zero-emission electrons to compete with fossil fuels. Earlier this year, BloombergNEF published its analysis of how electricity can displace hydrocarbons in Europe’s transport, buildings, and industrial sectors and cut greenhouse gas emissions by 60 percent in the next three decades. Doing so would require 75 percent more capacity, but much of that would be renewables, now the cheapest new source of power generation for countries hosting two-thirds of the global population, 71 percent of its GDP and 85 percent of all electricity generation. We mentioned earlier that the intermittency of renewable energy poses complications for grids. But the relative predictability of supply and demand and the inherent flexibility of networked power means it’s a complication grids turn out to handle quite easily. Falling battery costs will eventually change that game entirely, obviating the need for some peaking power capacity and creating trading opportunities. Subsidies do exacerbate the issue of negative pricing, which hurts traditional generators. But subsidies are just the inverse of the more market-friendly emissions pricing traditional generators have fought for so long. Building more renewable capacity to, say, displace internal combustion engines represents a huge investment. But it is also scalable; built relatively quickly in modular fashion to match demand. Conversely, you can’t drill 10% of a deepwater oil well and see how it goes; it’s a one-shot affair relying on a multi-decade demand and price projection. One reason the majors eventually muscled into shale was because of its faster schedules. Moreover, investment in domestic power is well-suited to post-Covid economic recovery plans and increasingly fractious energy geopolitics. While we worry about the fragility of petro-states, electro-states aren’t even a thing.

Wednesday, May 13, 2020 A7

To rage against the dying of the light! By Atty. R.A. Salalima

Conclusion

qually supportive of the above position, the Braid provision is more telling: “General Provisions

XXX Section 10. The State shall provide the policy environment for the full development of Filipino capability and the emergence of communication structures suitable to the needs and aspirations of the nation and the balanced flow of information into, out of, and across the country, in accordance with a policy that respects the freedom of speech and of the press.” (Section 10, Article VXI, Phil. Constitution) Anent the Secretary of Justice’s opinion in support of ABS-CBN on grounds of equity, our Civil Law concept of Equity is part of the laws of our land. But more than equity, ABSCBN’s operations in the interim is a matter of constitutional right, justice and due process as explained above. In taking the above affirmative position, I am not unmindful of the contrary views of others in support of the Cease and Desist Order of May 5, 2020 of the NTC based on an alleged substantive law (the Radio Control Act No. 3846) which requires a Congressional franchise before a broadcast company may be granted by the NTC a Certificate of Public Convenience or authority to operate, and the Supreme Court ruling in Associated Communications and Wireless Services—United Broadcasting Networks vs NTC (2003). In

response, let me be brief: 1. The NTC CDO ruling is void ab initio because it was issued with precipitate haste in violation of ABSCBN’s constitutional right to procedural due process of law, and, worse, in violation of NTC’s own 2006 Rules of Practice and Procedure in regard the issuance of Show Cause and Cease and Desist Orders; 2. Our Bill of Rights and our Constitution have primacy over statutory laws like Act 3846. Thus, Act 3846 cannot prevail as against our Constitution because our Constitution, though silent, is deemed written in every statutory laws of the land. This is basic in Statutory Construction and Constitutional Law; 3. The particularities in and the uniqueness/novelty of ABS-CBN’s factual situation are not identical to those in the case of Associated Communications. Thus, Associated Communications is not applicable to the ABS-CBN’s case. Blind idolatry to judicial precedents, as when the salient facts obtaining in two cases are not identical, must not be countenanced. See Justice Benjamin M. Cardozo on “The Growth of the Law” in re the fecundity of our case law and blind adherence to precedents, to “certainties” that are illusory and sham.

The fault is not in the stars but because we are underlings Why are we a Nation of sadists and masochists inflicting pain and sufferings against each other and unto ourselves? Why do we unnecessarily create enemies amongst us thereby poisoning our body politic? Why build walls and fences when we can construct human and humane connecting bridges? When we should heal and move as one, particularly now, against and amid this terrible pandemic. NTC’s cardinal sin is its issuance of the void ab initio CDO causing the serious quagmire that we are currently in. It must be held accountable for its sin. But let us not make a scapegoat out of NTC for our current problem because NTC is the wrong agency put to extreme pressure to solve a legal issue—a solution which primarily and exclusively belongs to another agency of government. The ultimate responsibility and fault lie on Congress, particularly the Leadership of the House of Representatives, constitutionally vested with THE exclusive plenary jurisdiction and power to hear and grant applications for franchises or extensions thereof, for temporizing on ABSCBN’s application for the extension of its franchise seasonably filed in 2016 yet. The simple, easy and quick solution—a plain, speedy and adequate remedy—to the legal issue was and is within the exclusive and plenary power of a supposedly independent Congress, but the leadership of the House failed our country and people. And that great power of the House/ Congress, a Constitutional Duty more

than a right, to hear and grant a franchise sans serious and valid obstacle carries with it the lesser ancillary power to grant a temporary relief in the form of a Provisional Congressional franchise or authorization In The Interim pending the hearing and grant of the regular Congressional franchise with a term of 25 years, if Congress is so minded to conduct a meticulous and punctilious hearing on the merit. ABS-CBN filed its application for the extension of its franchise so seasonably. Nothing happened to this application todate. So where is justice? For Congressional nonaction, public service and freedom of expression were thus sacrificed via a void legal technicality—the void ab initio Cease and Desist Order of the NTC dated May 5, 2020. Nonaction is the worst form of delay. Because it leaves the aggrieved without clear and speedy recourse. So unfortunate and sad, particularly in these dark hellish nights of Covid… And here Irage against the dying of the light! P.S.: I took the legal position above stated in the best light that God had given me to see the TRUTH, with charity and kindness for and to all, and with malice toward no one. Against strict law and legal technicality, let us think and act, always, not by the letter of the law that killeth but by the spirit that giveth life to the law. Our Constitution is not a strict, passive, cold and indifferent law. It is a living and dynamic organism that must respond and adjust to the needs and in the service of every Filipino, our people, and our one and only Nation. God bless us all!

Equity-raising bankers are on the naughty step By Chris Hughes Bloomberg Opinion

liberalized regime for raising cash from shareholders during the Covid-19 crisis gave UK firms and their bankers an inch. Some appear to have taken a mile. Companies should remember their new freedoms come at the expense of fairness and are not meant to be the new normal. A host of British firms have lately sold off sizable stakes in themselves in rapid-fire deals. Mammoth share sales normally have to be offered to all existing shareholders before anyone else, to protect them from being diluted. But that process takes weeks, and some crisis-hit companies need

SSS. . .

continued from A6

Portal of the SSS web site is already available. To check whether SSS contributions were posted correctly, our NWS members may also personally check their contribution records via SSS Mobile Application or through the My.SSS account until further notice since the SSS web site is currently dedicated to

Flam. . .

continued from A6

No state or city in the US has done anywhere near that level of testing, tracing or focused quarantining. Still, some local lockdowns may have saved lives. They were clearly necessary in New York City, for example, where cases were exploding in March. Sandman says that shouldn’t have been necessary if the US had used its weeks of warning time early in the year to set up testing and contact tracing there, and to prepare the hospitals. “It was too late in New York but it wasn’t too late in South Dakota,” says Sandman, or in most other parts of the country where there was no evidence of an immediate explosion. That didn’t mean ignoring the problem in such other places. A lack of testing made it hard to rule out new spikes anywhere, but in Sand-

cash right now. So the guidelines were relaxed last month to allow the quick sale of up to 20 percent of a firm to whomever will buy it—ideally to current owners, but not necessarily. The question is whether the managers taking advantage of the changes really have no choice. For example, Glass Lewis & Co. Llc. and Institutional Shareholder Services Inc. aren’t convinced that real-estate agent Foxtons Group Plc and casual dining outfit Restaurant Group Plc. needed their respective £22 million ($27 million) and £57 million cash calls so urgently. Both companies are in businesses where revenue has been turned off, and there’s no doubting the wisdom of raising funds. But neither

appeared to be running out of cash when they did their deals. The awkward truth is that the new system works pretty well for large, powerful shareholders. A British firm’s top institutional investors form a small list that’s easy for an investment bank to get on the phone. This select group can probably buy the bulk of a share offer by a mid-sized company whose stock price has fallen a lot. Indeed, Foxtons and Restaurant Group defended their actions, citing institutional shareholder support and the need to plan for all scenarios. It’s the individual shareholder who loses out, especially when big institutions enjoy quick profits on the cash they put in. Companies don’t need retail investors for their money, but

excluding this constituency is unfair nevertheless. Fortunately, technology is emerging that could help both parties. Fintech PrimaryBid Ltd. provides a potential avenue for notifying smartphone-carrying retail investors about imminent cash calls in their directly held stocks, and enabling them to buy in if the company has made arrangements. It’s not perfect: Regulations mean the retail component is capped at a few million pounds before a costly prospectus is required, and PrimaryBid’s platform requires investors to take the price set by the institutions. But adding a portion of retail, with solid investor protections, would mitigate the injustices of these cash calls at the cost of not much extra hassle.

the Small Business Wage Subsidy (SBWS) Program. SSS membership entitles one to six benefits, such as sickness, maternity, disability, retirement, death and funeral. Meanwhile, members are also entitled to avail themselves of various loan privileges such as salary, calamity, educational, and pension loan once qualified. In case the NWS has decided to change her career path and explore other avenues such as setting up a business or

working in the corporate world, she can change her membership status to self-employed or covered employee. If the worst-case scenario happens wherein she was involuntarily separated from work, SSS also offers its seventh benefit, which is unemployment benefit that is equivalent to 50 percent of the member’s average monthly salary credit (AMSC) as cash assistance that a member will receive for two months. Indeed, our dear homemakers

deserve all the best in the world, and providing her social security protection is the perfect Mother’s Day gift that would certainly last for a lifetime. Sa ating mga kababaihan, isang pagpupugay sa inyong lahat! 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.

man’s view, most places would have been better off with voluntary social distancing, cancellation of big events, preparation of hospitals and nursing homes, and focused testing and contact tracing or even contact tracing alone, quarantining contacts of people with flu-like symptoms. Today, politicians in many areas are using falling number of infections as a barometer for reopening their economies, though statisticians consider these nearly meaningless. Leaders instinctively want to take credit for ameliorating the public’s suffering, but the deciding factor is now on their shoulders: Do they have a plan to test nursing home and health care workers regularly? Do they have a plan for contact tracing? Is there a way to monitor the virus through random sampling? Sweden took a more sustainable approach—cancelling big gatherings

but otherwise keeping the economy running while attempting to protect those most likely to get severely sick. There were no mandatory lockdowns. Sandman says that’s what he expected here. “Sweden only looks weird and extreme because the rest of the world did something weird and extreme.” And yet Sweden does have a higher death rate than its neighbors, warns Harvard epidemiology professor Caroline Buckee. A slower spreading disease needs to infect fewer people to reach herd immunity, she says, provided certain assumptions about the length of immunity are correct. Buckee says people should wait to venture out until there are plans for dealing with future spikes, including testing and contact tracing and increasing hospital capacity. Lockdowns were supposed to be a stopgap to let slow-moving officials get those plans in place, not a longterm solution. Epidemiologists tend

to focus on what will save the most lives from a given disease at any cost, but Buckee admits that keeping everyone forced inside their homes until there’s a vaccine is not an option anyone is seriously considering. Strict shutdown measures are good for protecting public officials from appearing responsible for any deaths. They also, to some degree, shift the blame for continued infections to the public—any increase in cases can be blamed on people’s failure to comply with rules so strict that even epidemiologists and health officials have been caught breaking them. Those wanting to lift lockdowns aren’t necessarily denying the seriousness of the disease. Our safety can’t be bought by more suffering. At this point we’ve done our part, and public safety depends on what health authorities and politicians have done with the time we bought them. It’s now on them.

A8 Wednesday, May 13, 2020

HCWs with virus now 2K; DOH still hiring

NFECTED health-care workers (HCWs) in the country hit the 2,000-mark on Tuesday, but the Department of Health (DOH) continued to call on nurses to join the fight against Covid-19 as the government considers easing the lockdown in the coming days. As of 4 p.m. of May 11, a total of 2,067 HCWs were confirmed cases, while 643 have already recovered, with 35 deaths. Health Undersecretary Maria Rosario Vergeire said the DOH recorded 264 new cases (PH11087-PH11350) of Covid-19. The total number of cases in the country is now at 11,350. The DOH also announced 107 new recoveries, bringing the total number of recoveries to 2,106. There were also 25 new deaths from the disease. The death toll stood at 751. The DOH continued to announce its emergency hiring of HCWs for priority facilities such as: Philippine General Hospital, Lung Center of the Philippines, Dr. Jose N. Rodriguez Memorial Hospital and Sanitarium, Research Institute for Tropical Medicine and Bureau of Quarantine. Vergeire said different numbers of nurses are needed for different hospitals. Meanwhile, in honor of National Nurses Week, Vergeire thanked them for their dedication in fighting Covid-19 as the country faces unprecedented challenges from the disease. She also appealed to the nurses to help fight Covid-19 as other areas transition from enhanced community quarantine (ECQ) to general community quarantine (GCQ). Claudeth Mocon-Ciriaco

Citira, now CREATE, cuts CIT to 25%; means ₧259B in revenue loss till 2022

By Jovee Marie N. dela Cruz

@joveemarie

HE government is pushing for a measure that would immediately reduce corporate income tax (CIT) from 30 percent to 25 percent, but this would be at the expense of at least P259.4 billion in expected revenue loss until 2022. The repackaged Corporate Income Tax and Incentives Rationalization Act (Citira) will now be called Corporate Recovery and Tax Incentives for Enterprises Act or CREATE, based on the presentation of Socioeconomic Planning Secretary Karl Kendrick T. Chua to the House of Representatives. In the presentation, obtained by the BusinessMirror, Chua said the proposed CREATE is part of the recovery stage under the Philippine Program for Recovery with Equity (PH-Progreso), or the proposed economic recovery program of the

Development Budget Coordination Committee (DBCC). The government plans to implement the recovery stage from June to December 2020. According to Chua, the repackaged tax incentives will include an across-the-board lower tax rate for all firms and enhanced net operating loss carry-over (Nolco). Chua said the CIT rate reduction for all, or the immediate lowering to 25 percent from the current 30 percent, will have a revenue impact of a total of P226.8 billion or P41.96 billion in July 2020 on-

wards, P89.46 bilion in 2021 and P95.36 billion in 2022.

Longer transition

ALSO included in the CREATE, Chua said, is the longer transition period or additional two years for existing firms receiving incentives. This will cost the government P32.65 billion or P3.78 billion in July 2020 onwards, P12.55 billion in 2021 and P16.32 billion in 2022. He said the targeted and timebound tax incentives to support Balik Probinsya, Bagong Pag-asa Program are also included. Under the CREATE proposal, the Fiscal Incentives Review Board (FIRB) is tasked to improve the governance of tax incentives by tailoring programs to the individual companies’ needs, Chua said. The original Citira tasked the FIRB, which will be institutionalized, to review and approve all projects seeking incentives from the government. Under the proposal, the Finance Secretary chairs FIRB. Hou se Econom ic St i mu lu s

Cluster Cochairman and House Committee on Ways and Means Chariman Joey Sarte Salceda, in a statement, said the original Citira was approved by the Duterte Cabinet as an administration measure in January 2018 while the new House approved it on Septemper 2019. “By my estimates, we probably easily lost $3 billion in investments in the two years of dawdling after the Executive approved its unified version in January 2018. That is an amount that could have provided us a safety cushion during this pandemic,” he added. Meanwhile, Salceda backed the faster lowering of CIT. “The emerging proposal is an immediate 30 percent to 25 percent one time in 2020 versus the 1 percent yearly reduction, and then let the next administration have flexibility over the other 5 percent. This sends a strong signal that the country is open for business, subject of course to our need to finance infrastructure, health, and education,” he said. Continued on A4

Citira or stimulus bill? Senators eye priorities after Covid-19 damage By Butch Fernandez

@butchfBM

ITH the current session ending in June, Senate leaders indicated on Tuesday they are open to adopting the House version of the stimulus package for the Covid-19-ravaged economy and businesses. “I am [open to adoption],” Senate President Vicente Sotto III told BusinessMirror when asked if senators will consider that option if it looks like a separate stimulus bill or the Corporate Income Tax and Incentives Rationalization Act (Citira)—which Finance Secretary Carlos Dominguez had said should be prioritized before Congress even considers a multibillion stimulus measure—cannot be passed within 11 session days left before Congress adjourns anew on June 5. Sotto indicated, however, he still had to get the chamber’s consensus: “I don’t know about my colleagues.” Senate Minority Leader Franklin Drilon declared that “generally, I am open to a stimulus package” even as Drilon declined further comment, saying he has yet to see the House version of the P485billion package in the proposed Philippine Economic Stimulus Act (PESA). T he senators have treaded with caution on passing Citira, which the House of Representatives approved last year, because of the second key part of the measure, which rationalizes tax incentives. They want to deliberate more carefully on business groups’ concerns that the Houseapproved Citira would drive away investors. Apparently recognizing fears that driving away investors is the last thing the country needs in a pandemic, House Ways and Mea ns Committee C ha ir ma n

Joey Salceda said this week they have already tweaked Citira to satisfy the need to support businesses impacted by the disruptions from the Covid-19 lockdowns, while attracting investors that are leaving other countries. The Citira version has been renamed CREATE—for Corporate Recovery and Tax Incentives for Enterprises Act—and Salceda said they will introduce their amendments when they get to the bicameral conference stage with senators, since the House version had long been approved.

Keep investors—Angara

SENATOR Juan Edgardo Angara said on Tuesday that, “we need to tread carefully given the drastically different economic environment.” Angara said, “the first rule is probably not to lose any of the present investors we already have since the investment outlook does not look fantastic going forward. We should study what our neighbors are doing, as we will inevitably be compared to them, whether we like it or not.” He added: “Also, consumer behavior may change going forward. But in general, it is good to settle the uncertainty over the incentives debate in the near future.” As for adopting the House economic stimulus measure, “I think most senators are open to this idea as we have to help businesses and entrepreneurs weather this crisis,” Angara said. “I personally am very open and would support the House bills being pushed by Representatives [Stella] Quimbo, [Sharon] Garin and Salceda as well as the Department of Finance version of the economic stimulus,” Angara added, referring to the inputs provided by economic managers to the P485-billion House version of PESA. Continued on A4

‘Pass Citira by June 3 to attract investors’ By Bernadette D. Nicolas

@BNicolasBM

INANCE Secretary Carlos G. Dominguez III wants the Corporate Income Tax and Incentives Rationalization Act (Citira) to be passed before Congress adjourns on June 3 in a bid to attract investors who want to relocate from other countries. The country’s finance chief said they have proposed including “flexible tax and nontax incentives” under the bill to target specific companies that the government wants to invest in the country. “To attract investors who want to relocate from other countries and in search of resilient high-growth potential economies like the Philippines, this will involve the urgent passage of Citira or Package 2 of the Comprehensive Tax Reform Program, which we now proposed to include flexible tax and nontax incentives so we can target specific companies that we want to invest here. The bill has been with the Senate for a few months. We would like to ask for your support so that Congress can pass this before June 3,” Dominguez said during a televised briefing of the May 11 Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF). Pressed to elaborate on flexible and nontax incentives, Dominguez told finance reporters on Tuesday they are exploring the proposal that the President, upon the recommendation of the Fiscal Incentives Review Board, grant a mix of incentives that will suit investors’ unique needs. “Under the original Citira proposal, the President can extend the duration of incentives upon the recommendation of the Fiscal Incentives Review Board. Enhancements under a more Covid-19-responsive version of the bill could include the power of the President, upon recommendation of the FIRB, to grant a mix of incentives that better suit an investor’s unique needs. We are already exploring this proposal with relevant committees and leaders of Congress. That would make the system more responsive to investments that will serve our people well,” he said. Flexibility, he said, refers to mechanisms that allow the government to tailorfit incentives—fiscal and non-fiscal—to specific investors whose relocation to the Philippines can yield significant economic returns for the country. “Benefits would include good jobs for our workers and co-location of key players in cutting-edge industries,” he said. Dominguez argued that the country’s menu of incentives “should not be a one-size-fits-all approach,” noting that “there are potential investments that are uniquely deserving of incentives for reasons that serve the public interest, but their needs do not fit the kind of incentives specified in our laws.” “One of the structural problems of our current system is the limited room for the kind of negotiations that our neighbors are having to attract potential investors,” he said.

Faster CIT rate cut

DOMINGUEZ said last week they are open to reducing the corporate income tax (CIT) rate at a much faster pace than what was originally planned under the Citira bill. The BusinessMirror learned from a reliable source last week that the DOF is considering reduction of the 30 percent current CIT rate—the highest in Southeast Asia—to 25 percent on the first year of implementation due to Covid-19 impact. This comes as the government looks for ways to raise more funds and cushion the pandemic’s economic impact on businesses as well as the vulnerable sectors of society. Before Covid-19, industry groups had said they wanted the CIT rate to be reduced to 25 percent on the first year of implementation to somehow allow the Philippines to compete with the average of 22.5 percent in Asia and 23 percent globally; and that a 1-percent reduction be implemented yearly thereafter until it reaches 20 percent. However, Dominguez had said then that a faster CIT rate reduction would swell the country’s budget deficit, which could lead to a credit downgrade. Should the faster pace of CIT rate reduction push through, this would be a huge step for DOF, coming from its initial position of just cutting the CIT rate to 29 percent on the first year of implementation. The Citira bill originally seeks to gradually reduce the CIT rate from the current 30 percent to 20 percent by 2029. Aside cutting the CIT rate, the Citira bill will overhaul the current menu of tax perks for economic zone firms, including the 5-percent tax on gross income paid in lieu of all local and national taxes. These incentives are what keep the Philippines competitive against Southeast Asian competitors in the face of high logistics and energy cost here, critics of the bill have said.

www.businessmirror.com.ph

Companies BusinessMirror

Wednesday, May 13, 2020

PNB profits up 33% in Q1 on securities trading gains

By Tyrone Jasper C. Piad

@TyronePiad

hilippine National Bank (PNB) saw its net earnings rise by 33 percent year-on-year to P12.4 billion in the first quarter on the back of robust net interest income and securities trading gains. In a statement on Tuesday, the listed bank said its net interest profits surged by 25 percent to P8.8 billion, supported by higher income from loans to corporate, commercial, and small and medium enterprises and other interestearning assets. Noninterest income, driven by robust trading gains, rose by 58 percent. As of quarter ending March, loans receivables grew by 10 percent yearon-year to P651 billion. Deposit liabilities, meanwhile, posted a 6-percent growth at P791 billion. Operating expenses, excluding

provisions for impairment loss, climbed 13 percent on the back of higher business taxes and other business-related costs. Loan loss reserves, meanwhile, were set at P3.4 billion in the first quarter, markedly higher than P346 million recorded in the same period last year. “PNB delivered a remarkable performance during the period. However, it was necessary to exercise extraordinary prudence during these uncertain times and aggressively build up the bank’s loan provisions due to the potential economic downturn which will

adversely affect local businesses,” said PNB President and CEO Jose Arnulfo Veloso. As of end-March, consolidated assets and total equity stood at P1.1 trillion and P152 billion, respectively. Its common equity tier 1 ratio and capital adequacy ratio was at 13.80 percent and 14.72 percent, respectively. In support of Bayanihan To Heal As One law, PNB said it is providing payment extensions for loans due during the lockdown,

waiving penalty fees and interest charges. “As we navigate through an extremely challenging business environment, the Bank’s focus for the rest of the year is to ensure uninterrupted service to its customers and make meaningful contributions on initiatives to revive the economy,” said Veloso. Shares in PNB shed 60 centavos, or 2.63 percent, to settle at P22.25 each amid the 0.29-percent dip for the benchmark index.

BSP okays Metrobank call option on debt notes

etropolitan Bank & Trust Co. (Metrobank) secured approval for its call option on subordinated debt from the Bangko Sentral ng Pilipinas. In a disclosure on Tuesday, the listed bank said that it was exercising the call option on the P6.5-billion subordinated debt on August 8. “This is in accordance with the terms and conditions of the note,” Metrobank added. The Bank’s board of directors approved the said plan on February 19. Metrobank saw its first quarter earnings decline by 9 percent to P6.12 billion, from last year's P6.75 billion on the back of higher provisions. The bank allocated P5-billion reserves in the first three months, which was significantly higher than P2.4 billion the previous year for the same period. As of end-March, the bank’s nonperforming loans (NPL) ratio was stable at 1.4 percent while NPL coverage stood at 114 percent. Metrobank booked 8-percent growth in total deposits at P1.7 trillion on the back of 18-percent increase in current account/savings account (CASA) deposits in the first quarter. This improved CASA ratio to 66 percent in the first quar-

Cirtek unit unveils 5G antennas

Ayala quashes ABS-CBN acquisition talk T By VG Cabuag @villygc

onglomerate Ayala Corp. on Tuesday denied that it is in talks with the Lopez group for the possibility of acquiring ABSCBN Corp., which was forced to shut down the operations of its free-toair television and radio broadcasts on May 5. “As far as Ayala Corp. is concerned, there is no truth to that rumor. As

the company reported in its recent annual stockholders’ meeting, Ayala remains focused on growing its core businesses while supporting immediate concerns of the government to fight Covid-19 [coronavirus disease 2019],” the company said in a statement. Shares of ABS-CBN and Philippine depositary receipts issued by ABS-CBN Holdings Corp. were indefinitely suspended for trading since May 6, the morning after the

company stopped its TV and radio broadcasts following the cease and desist order issued by the National Telecommunications Commission (NTC). The company still airs its own shows on its cable programs being carried over SkyCable; TV Plus, the company's digital television brand; and other online streaming contents using its own platforms. Advertisements in ABS-CBN's free-to-air TV broadcasts, however, are the company's main source of income.

Shares of the broadcast giant were last traded on May 5, when it closed at P17.50, up by P0.50 from the previous day's close of P17 per share. The NTC issued the cease and desist order against the ABS-CBN following the failure of legislators to renew the company's franchise, which allowed it to use frequencies for television and radio broadcasts. The company operates 21 radio stations throughout the key cities of the Philippines.

Coca-Cola stays true to mission of refreshing the world

utting people first has always been the long-standing commitment of Coca-Cola in the Philippines for 108 years. From keeping the health and safety of its employees top priority, helping small and medium retail partners restart, supporting waste collectors sustain their livelihood, and providing water access for better health to waterpoor communities, the company has always stood strong together with the Filipino people through every crisis and disaster.

A legacy of reaching out and touching lives

Following the onslaught and devastation brought by Supertyphoon Yolanda in 2013, Coca-Cola provided 130,000 cases of potable water. It immediately worked toward the opening of the Tacloban plant, which allowed for access to water for daily use. In the wake of the Marawi siege of 2017, hydration was swiftly made available to both soldiers and displaced families. Coca-Cola was also there during the Mindanao earthquake of 2019, which saw the deployment of a water filtration system, as well as during the recent Taal eruption this 2020. To help survivors get back on their feet, Coca-Cola went beyond providing beverages, by also making available a business and gender sensitivity training called 5by20 Sari-Sari Store Training and Access to Resources (STAR) program. This program was implemented for women in Tacloban and Marawi. Meanwhile, during the Mindanao earthquake, Coca-Cola, through the Coca-Cola Foundation,

extended a grant of $500,000 to aid in the recovery of about 10,000 displaced individuals with temporary shelters, non-food supplements, and other necessities. With the coronavirus disease 2019 (Covid-19) pandemic, thousands of liters of beverages, along with other crucial necessities such as food and personal protective equipment (PPEs), have been made available to those at the frontlines, people in vulnerable communities, and everyone else at home and in quarantine. The company is also working on initiatives to help partners restart in these challenging times. “At a tough time like this, we know the value that Coca-Cola products bring to Filipinos,” said Winn Everhart, Coca-Cola Philippines general manager. “It’s an honor for us to help ease the unprecedented trials everyone is going through, and we hope that in our small ways, we are making a positive difference.” Protecting employees, supporting our distributors, customers, and communities The company, with its 10,000 direct employees in 19 plants and over 70 distribution centers, immediately instituted additional stringent protocols and systems to take care and prioritize the safety and total wellbeing of employees—fleet drivers, plant workers, delivery personnel, and all other associates involved in operations. Coca-Cola also mobilized their available resources and workforce to provide support for frontliners and vulnerable communities and guaranteed the consistent supply of their products in retail outlets. “Global health and safety pro-

tocols have always been in place in our facilities, and they inform every step of our procedures. With the institution of the community quarantine—where Coca-Cola was considered as belonging to the essential manufacturing sector—our sites rigorously followed the regulations set by the Department of Trade and Industry (DTI), the Department of Health (DOH), and the Department of Labor and Employment (DOLE). We are also making sure that our employees are well cared for, and that they can continue providing for their families,” says Gareth McGeown, CEO of Coca-Cola Beverages Philippines Inc. Some of the additional measures imposed in sites nationwide include the use of thermal scanning upon entry in all Coca-Cola locations, the provision of PPEs to personnel, the installation of foot and truck baths in compliance with stricter ingress and egress procedures, and point-to-point shuttles. Further to this, adjusted work arrangements have also been implemented; comprehensive health support through HMO coverage in the unfortunate case that an employee is diagnosed with Covid-19; mental and psychological health support, when needed. The advanced disbursement of 13th-month pay among other incentives and benefits, have also been enacted. “We will do our best to continuously care for our people and serve communities—leveraging on our resources and our huge nationwide footprint; we will make sure that we will get to those who need our support. We will also continue to

serve and support our customers and partners, especially small and medium enterprises like sari-sari stores, to help preserve their livelihood amidst the pandemic. Our people, our very own frontline heroes, make this possible. They are the strength of this company,” McGeown added.

Helping Filipino heroes and communities in need

With all these efforts, the company—working alongside key partners TOWNS Foundation, UP Medical Foundation, the Philippine Disaster Resilience Foundation, Caritas Manila, McDonald’s Kindness Kitchen, Rise Against Hunger-PH, Philippines Business for Social Progress, and Jollibee Foundation—has been continuously providing beverages, food packs, and PPEs to cater to the needs of frontliners and vulnerable communities. To date, nearly 500,000 liters of beverages have been provided to 125 public and private hospitals, 99 local government units, 53 national government agencies, and 50 nongovernment organizations and foundations. Frontliners in 305 medical institutions have been provided with PPEs, and 33,000 families have been supplied with food packs. “For more than 100 years, CocaCola has been committed to making a positive impact in the lives of the millions of Filipinos we serve. We believe that we are only as strong and as sustainable as the communities we serve; and thus, will continue to do the same, as a part of the Filipino community, in the next hundred more,” said Everhart.

ter from 61 percent last year in the same period. Net loans and receivables rose by 6 percent to P1.4 trillion in the January-to-March period, driven by corporates, middle market, small and medium enterprise and retail segments. The bank currently has total equity of P305 billion, with capital adequacy ratio at 17.6 percent—which is above the 10-percent minimum regulatory requirement. In March, Metrobank announced it was planning to convert P1.2 billion of its current P20-billion nonvoting preferred shares into 6 billion preferred shares with voting rights for 20 centavos apiece. The creation of new class of shares is aimed at enhancing its stock capital management. The merger of subsidiary Metrobank Card Corp. (MCC) into Metrobank was greenlighted by the Securities and Exchange Commission in January. It was seen to improve MCC's synergy, profitability, capital efficiency and competitiveness in credit-card business. Metrobank shares declined by 35 centavos, or 0.95 percent, to close at P36.45 apiece amid the 0.29-percent dip for the main index on Tuesday. Tyrone Jasper C. Piad

he American unit of Laguna-based Cirtek Holdings Philippines Corp. has launched its new generation of antennas designed for the national rollout of 5G (fifth generation) services for the telecommunications industry in the Unites States. Cirtek said in a statement that Quintel USA Inc. has secured a pioneering status with its 12Port Dual Diplexed Antennas, capable of using the 700 megahertz (MHz) and 850 MHz bands. “For years, growing communications and interconnectivity demands have burdened telco operators. There are three primary ways of adding capacity to a network. First is acquiring new spectrum. Second is using spectrum more efficiently and third is densifying the network," said Quintel President Michael Liu. “Spectrum is a scarce and costly resource which is left between carriers and regulators. From an equipment maker’s perspective, large innovations can be achieved in terms of spectrum efficiency and densification in pushing the network envelope through specialized techniques,” Liu added. Quintel said its new antennas are also available in eight-port with sizes of 6 feet and 8 feet lengths to accommodate rural, urban and suburban deployments. These new products improves coverage

when antennas are deployed on rooftops to ensure that more radio frequency energy is projected over the rooftop edge than with conventional antennas burden by shadowing leading to poor coverage and dead spots. Meanwhile, Cirtek said as part of its business continuity and expansion plans, it is in talks with an additional contract manufacturing partner in China as well as qualifying a new Taiwan facility in response to supply chain diversification and business resiliency plans. “Cirtek’s manufacturing capacity is currently running at 60 percent amid the pandemic. It is expected to run up to 70 percent capacity by the time the Philippine lockdown is lifted to comply with Covid-19 [coronavirus disease 2019] preventive measures until such time a vaccine is available or herd immunity is achieved,” said Cirtek’s Vice President Tony Callueng. The company still outsources to contract manufacturers in China, which has fully emerged from the lockdown last March due to Covid-19. The disease first appeared in December last year. To date, Cirtek, Quintel and its global offices and research and development facilities remain Covid-19 free while in full operation as part of essential industries. VG Cabuag

Companies BusinessMirror

Wednesday, May 13, 2020

PSE STOCK QUOTATIONS

May 12, 2020

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

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

48 98.75 60.95 19.7 7.65 36.45 8.68 16.52 22.25 42.15 16.5 99.95 54.05 0.7 15.4 2.6 0.3 640 0.59 165

48.2 99 61 19.72 7.68 36.7 9.98 17.82 22.3 43.5 16.98 100 54.5 0.82 15.5 2.68 0.32 650 0.6 169.8

48.2 98.4 58.8 19.72 7.74 37 10 16.06 22.8 42.7 16.9 101 54.6 0.82 15.5 2.53 0.3 640 0.6 168.5

48.2 99.95 61 19.8 7.74 37.25 10 16.5 22.8 43.5 16.98 101.2 54.6 0.82 16 2.53 0.305 640 0.6 168.5

48.2 98 58.75 19.7 7.6 36.4 10 16.06 22.2 42 16.5 100 54.05 0.82 15.4 2.53 0.3 640 0.6 168.5

48.2 98.75 61 19.72 7.69 36.45 10 16.5 22.25 43 16.5 100 54.5 0.82 16 2.53 0.305 640 0.6 168.5

2400 2786180 3478050 183200 55100 3854500 200 16800 229800 1100 45200 301860 420 27000 800 10000 140000 720 102000 10

115680 276269508 210634121 3612350 419777 141083980 2000 269852 5186795 47160 751342 30253374 22914.5 22140 12450 25300 42250 460800 61200 1685

96400 -87187667 121651887.5 -2594948 -64528980 -2785785 -331803.9998 -8410336 -

INDUSTRIAL AC ENERGY 2.26 2.28 2.33 2.34 2.26 2.26 7453000 17050710 48390 ALSONS CONS 0.94 0.97 0.94 0.94 0.94 0.94 1000 940 ABOITIZ POWER 26.25 26.4 26.95 27 26.1 26.25 1192500 31451670 -10415630 0.162 0.169 0.169 0.169 0.169 0.169 10000 1690 BASIC ENERGY FIRST GEN 18.32 18.34 18.5 18.5 18.32 18.32 343900 6,306,492( 4,273,150.0003) 56.5 56.6 57 57 56.5 56.6 9550 541351 -316683.5 FIRST PHIL HLDG MERALCO 264 264.4 255.8 264 255.4 264 353620 92271914 -26787648 MANILA WATER 12.5 12.58 12.66 12.76 12.5 12.5 2556800 32168486 -5444158 PETRON 3.08 3.1 3.12 3.14 3.05 3.08 1263000 3896650 -997380 2.5 2.57 2.58 2.59 2.5 2.5 24000 60350 PETROENERGY PHX PETROLEUM 11.16 11.48 11.58 11.58 11.3 11.58 103200 1192734 PILIPINAS SHELL 18.72 18.74 18.8 18.8 18.7 18.72 243300 4555094 -1120556 SPC POWER 8.31 8.36 8.4 8.4 8.28 8.36 201000 1675230 AGRINURTURE 7.34 7.43 7.3 7.5 7.1 7.43 282600 2078241 23288 AXELUM 2.87 2.89 2.94 2.94 2.87 2.87 743000 2149910 574710 15.26 15.28 15.3 15.46 15.22 15.28 1064800 16299546 785310 CENTURY FOOD 4 4.05 4.09 4.1 4.05 4.05 35000 142230 DEL MONTE DNL INDUS 5.08 5.1 5.09 5.24 5.05 5.08 3910200 19861000 -771738 EMPERADOR 7.78 7.79 7.86 7.86 7.78 7.79 1058000 8281914 -8204795 SMC FOODANDBEV 63.15 63.2 64.9 65 62 63.2 276450 17461783.5 3728451 ALLIANCE SELECT 0.55 0.56 0.53 0.55 0.53 0.55 2129000 1143900 1.31 1.32 1.34 1.34 1.31 1.32 4822000 6365780 126720 FRUITAS HLDG 30 30.85 30.95 31 30.95 30.95 600 18575 GINEBRA JOLLIBEE 139.2 139.4 141.2 141.8 138.6 139.4 948490 132,428,379( 62,974,487.0004) LIBERTY FLOUR 32.05 39.95 39 39 39 39 100 3900 MAXS GROUP 6.23 6.24 6.3 6.3 6.21 6.24 298400 1863497 54872 PEPSI COLA 1.91 1.92 1.92 1.92 1.91 1.92 125000 239760 95760 6.49 6.54 6.61 6.61 6.48 6.49 319500 2077154 -696175 SHAKEYS PIZZA 1.62 1.64 1.63 1.64 1.62 1.64 6357000 10361650 ROXAS AND CO RFM CORP 4.26 4.5 4.5 4.5 4.5 4.5 2000 9000 -9000 UNIV ROBINA 130 130.1 128.6 130.1 125.6 130 918440 118702449 -5410609 VITARICH 0.81 0.82 0.83 0.83 0.81 0.82 762000 624160 -16400 2.21 2.46 2.22 2.22 2.21 2.21 20000 44210 VICTORIAS CEMEX HLDG 1.17 1.18 1.22 1.23 1.17 1.17 15184000 18043200 480900 8.49 8.5 8.58 8.58 8.5 8.5 55100 468539 EAGLE CEMENT EEI CORP 5.32 5.33 5.41 5.46 5.31 5.32 1124100 6017832 26890 HOLCIM 7.8 7.81 8.7 8.7 7.5 7.81 3716100 29318701 114348 MEGAWIDE 6.39 6.43 6.61 6.65 6.39 6.39 3531700 23058087 -3011361 8.26 8.45 8.26 8.26 8.26 8.26 600 4956 PHINMA TKC METALS 0.76 0.78 0.77 0.79 0.76 0.79 99000 75670 VULCAN INDL 0.66 0.68 0.65 0.66 0.65 0.66 235000 154210 CHEMPHIL 150 170.8 141.3 141.3 141.3 141.3 50 7065 CROWN ASIA 1.73 1.79 1.73 1.79 1.73 1.79 3000 5250 EUROMED 2.43 2.45 2.5 2.53 2.36 2.43 489000 1180850 4450 23 23.5 24 24 23.4 23.4 7300 171900 -100400 CONCEPCION 1.24 1.26 1.23 1.29 1.23 1.26 1303000 1636590 34470 GREENERGY 5.26 5.35 5.2 5.4 5 5.26 501300 2568601 -36973.0001 INTEGRATED MICR IONICS 1.17 1.19 1.2 1.21 1.15 1.19 87000 102530 PANASONIC 4.03 4.84 4.9 4.9 4.89 4.89 6000 29390 SFA SEMICON 1.21 1.22 1.14 1.22 1.14 1.21 1888000 2237360 8.58 8.59 8.05 8.6 7.85 8.58 11912200 98512536 -445067 CIRTEK HLDG HOLDING & FRIMS

ABACORE CAPITAL ASIABEST GROUP AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL AYALA LAND LOG ANSCOR ATN HLDG A ATN HLDG B COSCO CAPITAL DMCI HLDG GT CAPITAL JG SUMMIT JOLLIVILLE HLDG KEPPEL HLDG A LODESTAR LOPEZ HLDG LT GROUP MABUHAY HLDG METRO PAC INV PRIME MEDIA SOLID GROUP SM INVESTMENTS SAN MIGUEL CORP SOC RESOURCES TOP FRONTIER ZEUS HLDG

0.53 8.02 699.5 41.05 6.2 1.79 6 0.53 0.55 5.07 4.26 420 48.75 5.31 5.1 0.54 2.61 7.54 0.47 2.9 0.83 0.98 817 96.95 0.68 136 0.147

0.54 8.25 704 41.4 6.27 1.8 6.1 0.54 0.57 5.1 4.27 426 48.8 5.8 5.14 0.55 2.63 7.55 0.48 2.91 0.85 1 818 97 0.7 138 0.16

0.54 8 700 40.9 6.31 1.87 6.08 0.52 0.54 5.13 4.2 420.4 49 5.29 5.14 0.52 2.74 7.65 0.48 2.93 0.85 0.98 808 97.95 0.7 138 0.155

0.56 8.47 705 41.35 6.31 1.87 6.1 0.54 0.55 5.2 4.32 431.8 49.4 5.96 5.14 0.57 2.74 7.7 0.48 2.94 0.85 0.98 819.5 97.95 0.7 138 0.16

0.52 8 690 40.15 6.2 1.78 6.02 0.51 0.53 5.07 4.2 420 48.65 5.29 5.14 0.52 2.61 7.53 0.475 2.88 0.8 0.98 800 97 0.7 138 0.155

0.53 8.02 704 41.05 6.2 1.79 6.1 0.54 0.53 5.07 4.26 420 48.8 5.96 5.14 0.54 2.62 7.55 0.48 2.9 0.84 0.98 817 97 0.7 138 0.16

10807000 16300 483420 342500 2038000 5402000 11700 1622000 600000 1470000 3834000 37540 2007800 2400 2000 311000 2828000 1174800 2200000 30992000 50000 3000 123310 114790 2000 690 17100000

5776710 135139 336436490 13997240 12737885 9783820 70648 855890 321360 7513250 16364340 15896466 97950980 14036 10280 168200 7489530 8893138 1055900 90190370 41850 2940 100424805 11192116 1400 95220 2674160

PROPERTY

ARTHALAND CORP ANCHOR LAND AYALA LAND ARANETA PROP BELLE CORP A BROWN CITYLAND DEVT CEBU HLDG CEB LANDMASTERS CENTURY PROP CYBER BAY DOUBLEDRAGON DM WENCESLAO EMPIRE EAST FILINVEST LAND GLOBAL ESTATE 8990 HLDG PHIL INFRADEV MEGAWORLD MRC ALLIED PRIMEX CORP ROBINSONS LAND PHIL REALTY ROCKWELL SHANG PROP STA LUCIA LAND SM PRIME HLDG VISTAMALLS SUNTRUST HOME VISTA LAND

0.55 8 31.8 1.03 1.35 0.55 0.74 5.52 4.04 0.345 0.29 16.06 6.8 0.285 0.94 0.78 10.22 0.8 2.57 0.151 1.48 14.48 0.23 1.51 2.69 1.92 29.6 3.78 1.21 3.8

0.56 8.7 31.85 1.05 1.37 0.56 0.75 5.9 4.14 0.35 0.295 16.08 6.85 0.305 0.95 0.79 10.26 0.81 2.58 0.152 1.49 14.5 0.238 1.53 2.7 1.93 29.8 3.8 1.23 3.84

0.55 8.89 32.85 1.07 1.35 0.55 0.75 5.8 4.03 0.345 0.295 16.06 6.8 0.29 0.95 0.83 10.3 0.8 2.57 0.155 1.49 14.98 0.231 1.53 2.7 1.86 30.4 3.81 1.2 3.84

0.56 8.89 33.15 1.07 1.37 0.56 0.75 5.9 4.14 0.35 0.295 16.08 6.95 0.29 0.95 0.83 10.3 0.81 2.59 0.155 1.5 14.98 0.244 1.53 2.73 1.93 30.65 3.92 1.23 3.89

0.55 8.8 31.65 1.03 1.35 0.54 0.75 5.8 4.03 0.345 0.29 15.94 6.8 0.29 0.93 0.79 10.22 0.8 2.55 0.151 1.49 14.44 0.23 1.5 2.7 1.8 29.6 3.8 1.19 3.8

0.56 8.8 31.8 1.05 1.37 0.56 0.75 5.9 4.14 0.35 0.29 16.08 6.83 0.29 0.94 0.79 10.22 0.8 2.57 0.152 1.49 14.5 0.23 1.5 2.7 1.93 29.6 3.8 1.21 3.8

16000 700 32212100 58000 713000 614000 1000 700 152000 1280000 440000 112400 50600 170000 6669000 2303000 22200 355000 9879000 1760000 25000 2482200 170000 133000 24000 207000 17194300 90000 879000 1635000

-624110 882840 -5684890 -5605289 198050 50568 -232820 -1680391 4949390 -3803126 -45842560 -192590 4943447 -16279510 -24625855 -394423.5 -

8830 6205 1029187545 60800 976310 337430 750 4120 624740 447300 127750 1802040 346944 49300 6267550 1821620 227584 284460 25373410 267300 37260 36336068 39490 199800 64860 386380 510902295 345270 1056560 6246510

-151843685 -20800 -3540 -898632 -94389 -2730150 2410 -5970120 12160 15198098 7200 -9078140 -4808390

SERVICES GMA NETWORK 5.1 5.12 5.3 5.3 4.91 5.12 1992400 10068494 MLA BRDCASTING 14.52 16.5 14.8 16.4 14.8 14.8 1300 19400 GLOBE TELECOM 2130 2140 2100 2160 2062 2130 103755 218782160 1185 1199 1180 1208 1171 1185 173160 205012410 PLDT 2.14 2.15 2.09 2.15 2.08 2.15 12706000 26939790 DITO CME HLDG 0.08 0.081 0.081 0.081 0.081 0.081 60000 4860 ISLAND INFO NOW CORP 1.8 1.81 1.77 1.81 1.76 1.81 796000 1420610 TRANSPACIFIC BR 0.182 0.184 0.188 0.188 0.181 0.184 860000 157190 PHILWEB 2.4 2.43 2.42 2.45 2.38 2.4 1153000 2779120 10.1 10.36 10.56 10.56 10 10.1 68600 694550 2GO GROUP ASIAN TERMINALS 16.72 17 17 17 17 17 60000 1020000 CHELSEA 3.21 3.23 3.17 3.25 3.15 3.22 275000 876220 CEBU AIR 43.25 43.4 45 45.1 43 43.25 227300 9942140 INTL CONTAINER 84.9 84.95 85.1 85.5 84.6 84.9 2269260 192755717.5 LBC EXPRESS 13.02 13.98 14 14 13.98 13.98 1300 18196 0.73 0.78 0.78 0.78 0.78 0.78 1000 780 LORENZO SHIPPNG MACROASIA 4.41 4.44 4.62 4.71 4.4 4.41 6628000 30255700 2.44 2.45 2.49 2.49 2.31 2.45 1583000 3816120 METROALLIANCE A PAL HLDG 6.91 7.01 7.04 7.05 6.9 7.01 16500 115515 HARBOR STAR 0.86 0.87 0.86 0.89 0.85 0.85 76000 64970 BOULEVARD HLDG 0.025 0.026 0.025 0.026 0.025 0.026 34000000 850500 1.65 1.79 1.79 1.79 1.79 1.79 1000 1790 DISCOVERY WORLD GRAND PLAZA 9.55 12.56 12.66 12.66 12.66 12.66 100 1266 WATERFRONT 0.405 0.41 0.41 0.41 0.41 0.41 40000 16400 CENTRO ESCOLAR 6.05 6.29 6.29 6.29 6.02 6.02 1400 8482 IPEOPLE 6.02 8.32 8.33 8.33 8.32 8.32 200 1665 STI HLDG 0.33 0.34 0.335 0.34 0.33 0.33 2500000 831700 2.15 2.16 2.16 2.16 2.15 2.16 44000 94880 BERJAYA BLOOMBERRY 5.46 5.48 5.51 5.56 5.39 5.48 1762500 9652760 1.94 1.95 1.95 1.95 1.94 1.94 14000 27210 PACIFIC ONLINE LEISURE AND RES 1.47 1.51 1.46 1.51 1.46 1.51 15000 21950 PH RESORTS GRP 2.62 2.69 2.73 2.78 2.58 2.69 475000 1241580 0.3 0.305 0.305 0.305 0.305 0.305 160000 48800 PREMIUM LEISURE ALLHOME 5.9 5.96 6.14 6.14 5.8 5.9 2591400 15374239 1.79 1.8 1.8 1.81 1.76 1.8 975000 1744250 METRO RETAIL PUREGOLD 47.9 48 49 49 46.95 48 7132300 339350345 ROBINSONS RTL 66.45 66.5 66.9 66.9 66.3 66.5 747690 49730105.5 PHIL SEVEN CORP 125.2 126.3 130 130 125.3 125.3 1170 150046 1.21 1.22 1.23 1.23 1.21 1.22 1802000 2192290 SSI GROUP 15.5 15.64 15.58 15.84 15.5 15.5 1853800 29041430 WILCON DEPOT 0.295 0.3 0.29 0.3 0.29 0.295 160000 47250 APC GROUP EASYCALL 7.35 7.5 7.66 7.66 7.23 7.5 68900 506700 GOLDEN BRIA 306 320 320 320 320 320 10 3200 PAXYS 2.12 2.28 2.12 2.12 2.12 2.12 4000 8480 0.22 0.225 0.22 0.227 0.22 0.22 2000000 442640 PRMIERE HORIZON

-127353170 -101079580 -142950 -30450 120800 -95100 -7060355 -90809930.5 -982220 46800 2489173 -0 6382537 -305880 -138098370 -34821873.5 -102541 -633310 21215148 -75140

MINING & OIL ATOK 10 10.5 10.66 10.7 10.66 10.7 500 5346 APEX MINING 0.93 0.94 0.92 0.94 0.92 0.94 1154000 1070600 0.001 0.0011 0.001 0.0011 0.001 0.0011 28000000 28500 ABRA MINING COAL ASIA HLDG 0.183 0.199 0.191 0.191 0.19 0.19 520000 98950 CENTURY PEAK 2.69 2.73 2.73 2.73 2.73 2.73 107000 292110 DIZON MINES 7.29 7.3 7.15 7.36 7.01 7.3 11400 82070 FERRONICKEL 0.83 0.84 0.86 0.86 0.83 0.84 1016000 858890 42000 GEOGRACE 0.203 0.209 0.203 0.208 0.203 0.205 50000 10310 0.078 0.079 0.079 0.079 0.079 0.079 420000 33180 LEPANTO A LEPANTO B 0.082 0.083 0.083 0.083 0.083 0.083 40000 3320 MANILA MINING A 0.0063 0.0069 0.0064 0.0064 0.0064 0.0064 30000000 192000 MARCVENTURES 0.55 0.57 0.55 0.57 0.55 0.57 34000 18830 NIHAO 1 1.03 1 1.03 1 1 112000 112300 NICKEL ASIA 1.6 1.61 1.58 1.62 1.57 1.6 6383000 10222650 -2917810 0.495 0.52 0.53 0.53 0.52 0.52 10000 5210 ORNTL PENINSULA PX MINING 2.27 2.3 2.29 2.3 2.27 2.3 321000 731180 -161800 11.9 12.02 11.8 12.06 11.8 11.9 678300 8114756 -2747398 SEMIRARA MINING ACE ENEXOR 6.75 6.8 6.71 6.82 6.6 6.79 129200 871990 ORNTL PETROL B 0.0085 0.0095 0.0085 0.0095 0.0085 0.0095 12000000 108000 PXP ENERGY 4.55 4.6 4.7 4.75 4.4 4.55 2273000 10518410 188900 PREFFERED HOUSE PREF A 99.7 99.9 99.9 99.9 99.7 99.9 630 62917 AC PREF B1 498.4 500 500 500 500 500 750 375000 100 106.8 100 100 100 100 12500 1250000 ALCO PREF C AC PREF B2R 491 503 491 503 491 491 30 14850 CPG PREF A 99 99.5 99.6 99.6 99.6 99.6 1000 99600 DD PREF 99.3 99.5 99.5 99.5 99.5 99.5 40630 4042685 GLO PREF P 500.5 510 510 510 510 510 20 10200 GTCAP PREF A 990 998 998 998 998 998 10 9980 100 100.3 100 100 100 100 30100 3010000 MWIDE PREF PNX PREF 3B 104 106.9 107 107 106 106.9 1230 131495 PNX PREF 4 997 1000 1010 1010 1000 1000 1090 1090500 PCOR PREF 3A 1016 1018 1018 1018 1018 1018 380 386840 PCOR PREF 3B 1022 1054 1055 1055 1055 1055 100 105500 SMC PREF 2C 76.9 77.4 77.45 77.5 77.4 77.45 4330 335416 74.7 75 75 75 75 75 20 1500 SMC PREF 2D SMC PREF 2G 75.3 75.8 75.35 75.35 75.35 75.35 3230 243380.5 SMC PREF 2H 75.15 75.2 75.2 75.2 75.2 75.2 6800 511360 SMC PREF 2I 75 75.5 75.5 75.5 75.5 75.5 10 755 PHIL. DEPOSITARY RECEIPTS GMA HLDG PDR 4.88 4.99 4.91 4.91 4.89 4.89 8000 39240 WARRANTS LR WARRANT 0.71 0.73 0.73 0.73 0.71 0.71 160000 115610 SMALL & MEDIUM ENTERPRISES ITALPINAS 1.93 1.94 1.89 1.94 1.84 1.93 2071000 3941060 115680 KEPWEALTH 7 7.06 7.04 7.2 6.95 7 77000 540286 0.68 0.69 0.64 0.72 0.63 0.68 13336000 9070470 XURPAS EXHANGE TRADE FUNDS FIRST METRO ETF 85.5 86.25 86.45 86.45 85.5 85.5 17570 1510680.5 12942

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ERC hikes capacity limits for power generation firms

By Lenie Lectura

@llectura

he Energy Regulatory Commission (ERC) has issued a resolution increasing the capacity limits of power generation companies (gencos) for this year. The commission set the Installed Generating Capacity (IGC) limit in the Luzon grid to 4,813.20 megawatts, from last year’s 4,605.25MW per genco. In Visayas, the ERC set the capacity limit of gencos to 1,009.97MW this year, from last year’s 909.44MW. gencos in Mindanao are limited to own or control 1,199.73MW this year, from last year’s 1,026.25MW. The capacity limits represent 30

percent of the total installed capacity in each grid, the ERC resolution stated. The total IGC for Luzon, Visayas and Mindanao this year is set at 16,044MW, 3,366.56MW and 3,999.10MW, respectively. I n 2019, t he IG C s to o d at 15, 350. 82M W i n Lu zon; 3,031.46MW in Visayas; and 3,420.82MW in Mindanao. On a nationwide scale, this year’s

maximum capacity that one power firm can own is set at 5,852.41MW, representing 25 percent of the country’s IGC which is 23,409.65MW. In 2019, the country’s total IGC stood at 21,803.10MW. A genco was allowed then to own not more than 5,450.78MW, representing 25 percent of the 2019 total IGC. Pursuant to Section 45 (a) of Republic Act 9136 or the Electric Power Industry Reform Act of 2001 (Epira), the ERC is mandated to set the numbers annually to prevent a person, company, related group or independent power producer administrators, singly or in combination, to own, operate, or control more than 30 percent of the IGC per grid, and 25 percent of the national grid. In line with this provision, the ERC issued Resolution 26, Series of 2005, which set the guidelines for the determination of IGC for each

grid and the national grid. “Pursuant to its mandate of promoting free and fair competition in the generation and supply of electricity to achieve greater operational and economic efficiency, and to ensure consumer protection and enhance the competitive operation of the markets for generation and supply of electricity, the ERC resolved, as it hereby resolves to set the 2020 IGC per grid and national grid, and MSL [market share limitation] per grid and national grid, using Pmax as the maximum capacity adopted for generation facilities,” ERC Resolution 2, Series of 2020 stated. The IGC and MSL per grid and nationwide are adjusted by the ERC on or before March 15 of the succeeding years or as often as necessary. The ERC resolution was signed on March 12, but was approved for posting just recently.

Pru Life unveils UITFs amid pandemic By Bernadette D. Nicolas @BNicolasBM

mid the economic fallout posed by the coronavirus disease 2019 pandemic, Pru Life UK Investments—the asset management company of life insurance firm Pru Life UK—has officially launched three new unit investment trust funds (UITFs). Pru Life UK Investments unveiled PRUInvest PH Equity Index Tracker Fund, PRUInvest PHP Dynamic Equity Fund and PRUInvest USD Intermediate Term Bond Fund, which are tailored to the investment needs of Filipinos. Pru Life UK Investments Director Lee Longa said in a statement that “demand for asset management and trust products is on the rise as consumer seek options to better manage their personal finances.” “With these funds, Filipinos can enjoy a flexible investment timeframe, professional fund management services and easy access to broader asset classes,” Longa added. Pru Life UK President and CEO “Jumbing” G. De Rosas told reporters in a virtual press conference via Zoom on Tuesday that “the best time to invest is when prices are depressed.” “Just like in any business you go into the market, when the market is not saturated, you go into the market when everybody is being afraid of being in the market so and we are there for the long term

and not overnight,” said De Rosas. Moreover, he said the company’s confidence in launching these investment products—albeit in the time of crisis—stems from the fact that the country has strong macroeconomic fundamentals. “You know our fiscal debt in terms of GDP is very low, we have very huge foreign reserves. Our balance of payments have been in surplus for many years and you know it is contributing to additions to our foreign reserves,” he said. “At the same time you know companies in the PSE [Philippine Stock Exchange] have strong balance sheets, the banks have strong balance sheets and a lot of our people in retail are doing well and we have the ability, because we are a new fund, to select stocks you know who can weather this crisis arising from the pandemic and even grow further as the pandemic dies down,” he added. Aggressive investors who want to leverage the growth of the Philippine economy can take advantage of the PRUInvest PH Equity Index Tracker Fund, which is a multi-class equity fund that seeks to achieve investment returns by tracking the PSE Index performance. Minimum investment for this new UITF starts at P10,000. Likewise, with the same minimum amount of investment, investors can also choose to invest in Philippine companies with strong growth potential through PRUInvest PHP Dynamic Equity Fund. With a systematic-based approach, PRU

‘Virus highlights need for fintech revolution’ By Lorenz S. Marasigan @lorenzmarasigan

he coronavirus disease 2019 (Covid-19) pandemic has trained the spotlight on the need for a “financial technology [fintech] revolution” in the Philippines, as digital services continue to ramp up due to limited mobility and health protocols. GCash Chief Technology and Operations Officer Pebbles Sy said her group finds that the “new normal” moving forward will be driven by digital services, and digital finance will be at the core of these services. She explained that people are now using their e-wallets to pay for bills, transact with merchants, transfer funds, and for digital donations. “In the age where almost everything is digital, it is important to have digital financial infrastructure in place to support digital services. This pandemic has accentuated the need for us to further develop and promote digital financial services to complement the initiatives to fight Covid-19,” she said. As more and more people turn to digital services—grocery shopping, food delivery, and paying bills online, among others—to complete their daily tasks, Sy said Filipinos are now “seeing the huge benefits of cashless transactions.” Among the benefits she listed are convenience, security, transparency, and efficiency.

Aside from this, she said using mobile payments is safer, given that paper money may harbor bacteria and viruses for days. “With the pandemic, it's better to be safe, which is why we encourage the use of contactless payments. Digital payments help citizens follow the stay-at-home directive, as they are given an easier, more accessible option,” said Sy. She added that mobile digital payments are even better than credit cards, as the plastic card is also being passed from one hand to another, while mobile phones are not. “Digital payments have helped ease the burden of Filipino consumers in the past, and now it has become more and more evident with this pandemic. The Philippines is a very mobile nation, and we at GCash are ready for a fintech revolution,” Sy said. Of all the benefits of mobile digital payments, financial inclusion, she said, must be at the top of the list, saying that through GCash, Filipinos now have access to financial tools, such as credit, insurance and investments. “Trusting the fintech industry at this point has become a welcome step toward digital modernization, with the rapidly changing rules of our reality, the usage of e-payments in pursuit of a cash-lite economy is seen to provide support toward a much more inclusive financial system, where no Filipino is left behind, even in the middle of a pandemic,” said Sy.

Life UK Investments determines which companies can consistently grow their income and increase shareholder value in the long term. For investors who value capital appreciation and income from their dollar assets, they may opt for PRUInvest USD Intermediate Term Bond Fund. This is designed to help investors achieve stable income with moderate growth by investing in a portfolio of liquid US dollar-denominated gov-

mutual funds

ernment bonds and fixed income instruments. Minimum investment for this starts at $1,000. The new funds have received regulatory approval from the Bangko Sentral ng Pilipinas in May 2019. The launch of these quality investment products is in line with Pru Life UK’s “We DO Wealth” commitment to promoting wealth management and securing the financial future of Filipinos. May 12, 2020

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 187.44 -27.52% -11.67% -7.75% -25.59% ATRAM Alpha Opportunity Fund, Inc. -a 0.9796 -38.51% -13.95% -8.73% -29.12% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.5308 -37.16% -16.17% -10.51% -31.19% Climbs Share Capital Equity Investment Fund Corp. -a 0.6547 -29.13% n.a. n.a. -27.02% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6779 -21.03% n.a. n.a. -20.18% First Metro Save and Learn Equity Fund,Inc. -a 4.0686 -24.53% -8.87% -7.04% -23.64% First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.6318 -26.67% -12.8% n.a. -25.98% MBG Equity Investment Fund, Inc. -a 75.8 -38.7% n.a. n.a. -26.64% PAMI Equity Index Fund, Inc. -a 37.3903 -27.03% -10.35% n.a. -27.09% Philam Strategic Growth Fund, Inc. -a 403.34 -24.52% -9.53% -6.76% -24.3% Philequity Alpha One Fund, Inc. -a,d,5 0.8608 n.a. n.a. n.a. -16.44% Philequity Dividend Yield Fund, Inc. -a 0.9604 -26.15% -9.53% -6.1% -25.37% Philequity Fund, Inc. -a 28.196 -26.18% -9% -5.97% -25.6% Philequity MSCI Philippine Index Fund, Inc. -a 0.7443 -27.03% n.a. n.a. -26.89% Philequity PSE Index Fund Inc. -a 3.8084 -26.62% -9.86% -5.86% -27.09% Philippine Stock Index Fund Corp. -a 636.65 -26.51% -9.84% -6.06% -27% Soldivo Strategic Growth Fund, Inc. -a 0.5907 -35.59% -13.2% -9.71% -30.62% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.0027 -29.63% -10.6% -6.91% -28.66% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.7306 -26.66% -9.99% -6.02% -27% United Fund, Inc. -a 2.7458 -25.23% -7.66% -4.76% -24.84% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 85.3873 -26.39% -9.36% -5.24% -26.99% ATRAM AsiaPlus Equity Fund, Inc. -b $0.9003 -9.77% -2.17% -3.42% -12.46% Sun Life Prosperity World Voyager Fund, Inc. -a $1.2641 -1.11% 3.53% n.a. -8.31% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.4965 -12.02% -5.56% -5.03% -4.24% ATRAM Philippine Balanced Fund, Inc. -a 1.9666 -13.89% -5.83% -3.62% -9.83% First Metro Save and Learn Balanced Fund Inc. -a 2.3351 -10.69% -3.31% -4.45% -11.26% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1842 n.a. n.a. n.a. -19.39% NCM Mutual Fund of the Phils., Inc. -a 1.7905 -6.24% -1.9% -1.55% -8.79% PAMI Horizon Fund, Inc. -a 3.3338 -8.58% -3.62% -3% -12.02% Philam Fund, Inc. -a 14.9001 -9.59% -3.8% -3.11% -12.15% Solidaritas Fund, Inc. -a 1.8472 -12.99% -4.8% -2.82% -13.11% -5.79% -4.14% -18.64% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.1436 -17.73% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.8998 -9.29% n.a. n.a. -11.41% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.7958 -19.49% n.a. n.a. -20.13% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.7716 -21.73% n.a. n.a. -22.31% Sun Life Prosperity Dynamic Fund, Inc. -a 0.7779 -20.62% -6.76% -5.59% -20.2% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03793 4.38% 2.28% 1.34% -0.78% PAMI Asia Balanced Fund, Inc. -b $0.9314 -4.72% -0.55% -1.81% -10.26% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $3.6265 -1.8% 2.53% 1.74% -7.27% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.065 -1.73% 1.05% n.a. -5.65% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 363.05 4.23% 3.02% 2.44% 1.47% ATRAM Corporate Bond Fund, Inc. -a 1.9307 2.31% 1.03% -0.2% 1.51% Cocolife Fixed Income Fund, Inc. -a 3.1729 4.77% 5.16% 5.12% 1.82% Ekklesia Mutual Fund Inc. -a 2.2772 5.23% 2.88% 2.22% 2.35% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4219 6.66% 3.05% 1.82% 2.66% Philam Bond Fund, Inc. -a 4.5151 11.09% 3.7% 2.25% 3.25% Philam Managed Income Fund, Inc. -a,6 1.2829 6.89% 3.78% 2.04% 2.08% Philequity Peso Bond Fund, Inc. -a 3.8763 7.22% 3.66% 1.95% 2.33% Soldivo Bond Fund, Inc. -a 1.02 10.57% 3.37% 1.53% 5.78% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1245 7.72% 4.58% 2.77% 1.58% Sun Life Prosperity GS Fund, Inc. -a 1.7265 7.3% 4.07% 2.33% 1.49% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $468.78 3.03% 2.33% 2.43% 0.12% ALFM Euro Bond Fund, Inc. -a Є214.19 -0.86% 0.53% 0.67% -2.52% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.1978 2.43% 2.32% 2.09% -0.78% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0257 1.58% 1.06% 0.96% -0.39% PAMI Global Bond Fund, Inc -b $1.0551 -1.01% -0.36% -0.67% -3.66% Philam Dollar Bond Fund, Inc. -a $2.3983 5.62% 2.88% 2.38% -0.23% Philequity Dollar Income Fund Inc. -a $0.0596169 2.28% 1.49% 1.42% -1.16% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1475 5.11% 2.11% 1.86% -0.88% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 127.46 3.8% 3.11% 2.35% 1.34% First Metro Save and Learn Money Market Fund, Inc. -a 1.0379 2.72% n.a. n.a. 1.13% Sun Life Prosperity Money Market Fund, Inc. -a 1.2786 3.35% 3% 2.54% 1.11% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0419 1.66% n.a. n.a. 0.45% Feeder Fund Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $0.9 n.a. n.a. n.a. -9.09% 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). "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."

Entrepreneur BusinessMirror

Adopting new tech, pivoting biz models in time of virus

icro, small and medium enterprises (MSMEs) are encouraged to adopt new technologies and pivot business models to ride out the coronavirus disease 2019 (Covid-19). “There is no turning back. This is the ‘new normal.’ We must accept it and get used [to] it and most of all, adjust our business, job or career to adapt to it,” said Philippine Coffee Board Inc. President Pacita “Chit” Juan. Juan called on MSMEs to go online, invest in inventory system software, learn technology, and understand their supply chain. “Many years ago, we started our e-commerce presence and envied how the big players run their sites. Now our online business is doing much better than our brick and mortar store,” she said. Juan said firms have to also adapt to new business trends brought by Covid-19. “We can no longer be what we used to be. We have to learn new skills or hone the ones we have put off so many times before,” she added. “It’s time to do it now—learn how to pay your bills online, learn how to transfer money with Gcash or PayMaya. There is no secretary or accountant to do it for you.” Age is “not or never” will be a barrier to learning something new, except maybe learning a foreign language, or playing the piano, she said, noting “but not making your own letters, and using Google for almost anything.” Juan said “hyperlocal” is the trend, citing joining Viber marketplaces and introducing products to a hyperlocal market, which includes next door neighbors, apartment mates, and village colleagues and friends. “Hyperlocal push” markets are also among the new norms for small business, wherein customers find products on viber chats of their community groups. Businesses can also conduct virtual meetings as more people are scared to go back to the traditional ways - malling, dining out and having personal meetings, or meet-ups - amid the Covid-19 pandemic, she said. Juan cited examples of meeting platforms they may learn to use, including Google Hangouts and Zoom. She further discussed other new norms for small business, which are “locavorism,” shorter supply chain, transparency, slow food, and “plant your own food.” “Buy supplies from as local a source as possible. It’s not cost alone, it’s helping small businesses have a steady market,” she said, adding firms are now buying locally sourced ingredients as imports will be harder to get. Juan further said customers intend to know who is cooking what and where, or the farmer who will deliver their vegetables. “Prices will be a clear deal between seller and buyer. Who pays for delivery? May I return bad fruits and replace them? Gladly, sellers do!,” she said. With the quarantine imposed to avert the spread of Covid-19, processed food and fast food are hit hard and people are forced to cook at home, teaching their kids how to eat well, she added. “People thought we were nuts to plant our own food 10 years ago. Now, the very agency tasked with food security is asking us to plant, plant, plant,” Juan added.

Editor: Vittorio V. Vitug • Wednesday, May 13, 2020 B3

Young entrep finds thriving business amid rise of ‘work from home’ deals Roderick L. Abad

@rodrik_28

Contributor

HILE majority of the labor market temporarily have lost their jobs due to the national government-imposed enhanced community quarantine (ECQ), the lockdown initiative has benefited an entrepreneur and educator from working at the comforts of her home.

Online trainer and coach Dorelene V. Dimaunahan has been constantly communicating with her clients and staff via telecommuting since the ECQ was implemented mid-March in Metro Manila and other areas affected by the coronavirus disease 2019 (Covid-19) crisis. She has been also involved in projects where she plays a vital role. Among these, her favorite is conducting webinars on human resources (HR) and mental health, to name a few. On weekends, Dimaunahan spends her Saturdays doing a one-on-one coaching with social enterprises, as well as small and medium businesses. Since this ECQ has been very toxic for a lot of entities, she has been offering one hour consultation services for “free.” “I work best with teams. I train, delegate and make sure to trust that they can deliver, most especially during these trying times,” Dimaunahan said. Every Sunday at 3 p.m., she is scheduled to

cohost in TalkShopAsia Episode 17 as a millennial strategist. She is also a cohost of StartupNation known as Doktor D that airs every Sunday, from 10 a.m. to 12 noon. “I believe that it’s really the traffic that lessens my output during regular days in the past,” she said of her realization since she has become more productive during the ECQ. “Nevertheless, I enjoy every single day of work, most especially when I know that I inspire others to do better,” Dimaunahan said. Apart from mentoring her clients, she also finds time to prepare for the next school year whenever she’s online. This is by learning various platforms for online education. In the same manner, Dimaunahan opens her doors to her students if ever they need to consult, or talk to someone. Interestingly, she has come up with an advocacy, titled “Covid Diaries: A Millennial Collaboration,” together with some of her students.

DIMAUNAHAN

This initiative, which is aimed at featuring experiences and people during these trying

times, will be made available in digital and print—very aligned to her passion for research and writing. Because of this unprecedented pandemic, Dimaunahan expects that there will be a lot of changes that will happen, such as staying digital, revamping business models and battling the issue of mental health. “Yet, that is something I am certain that we will eventually have to adjust to, as we all have to go through a learning curve, similar to what has happened in historical crises around the world,” she said. Dimaunahan finished her master’s degree in management from the University of Asia and the Pacific (UA&P). She took her PhD in Business at De La Salle University (DLSU) and her Bachelor of Science in Accountancy in Philippine School of Business and Administration. Currently, she is an educator in different universities and colleges, such as DLSU, Ateneo De Manila University, UA&P, and Center for Culinary Arts. Dimaunahan is a certified franchise executive, management accountant, and HR practitioner.

I believe that it’s really the traffic that lessens my output during regular days in the past. Nevertheless, I enjoy every single day of work, most especially when I know that I inspire others to do better.” —Dimaunahan

PHL ranks No. 1 for women’s growth in work force in global index

avorable entrepreneurial framework and conditions characterized by high levels of support for small and medium enterprises (SME), ease of doing business, and access to financial services and academic programs are typically the key factors for women advancement in business. Such is reaffirmed in The Mastercard Index of Women Entrepreneurs 2019 (MIWE) through the findings for high-income countries like the US, New Zealand and Canada. The Philippines, however, stood out as a promising market showing that women in less wealthy and developed economies can still thrive in entrepreneurial businesses.

Strong representation of women in the Philippine workplace

Ranking first out of 58 economies for the first component, “Women’s Advancement Outcomes,” the Philippines stood out in terms of women’s ability to thrive as business leaders, professional and technical workers, entrepreneurs, and labor force participants. Three other markets in Asia-Pacific joined the Philippines in the top 10 ranks: Thailand (rank 4), Vietnam (rank 7) and New

Zealand (rank 10). The index also highlighted that Filipino women are fairly represented in the work force, with 52 percent of business leaders and 58.2 percent of professional workers being female. Filipino women were also found to be just as likely as their male counterparts to go into entrepreneurship.

Limited access to education and funding

Unlike the previous metric, the Philippines was not able to join other Asia-Pacific markets in the top spots for “Knowledge Assets and Financial Access. This component of the index gauges women’s progress and the degree of marginalization they face as financial customers and academically in terms of opportunities to enroll in tertiary institutions, women’s inclination to borrow, or save for business, and support rendered for SMEs. Among all 58 countries evaluated, the Philippines at rank 20 lagged behind a mix of high income, upper middle income and similar lower middle-income markets across different regions, including nine other markets from Asia-Pacific. The index noted that in

the country, financial support rendered for SMEs is quite weak. This is indicated by gender gap in access to financial services, perception on physical infrastructure, and accessibility, range and effectiveness of government programs. Nevertheless, the Philippines was noted for being one of the markets with the least gender divide when it comes to borrowing, or saving for business.

Lack of enabling entrepreneurial conditions

Out of the three components of the index, “Supporting Entrepreneurial Conditions” saw the lowest evaluation of the Philippines at rank 38. This gauges how supporting entrepreneurial conditions are either enablers or constraints of women business ownership through four indicators: ease of doing business, cultural perceptions of women entrepreneurs, quality of governance, and entrepreneurial supporting factors. This part of the index was dominated by wealthy and developed countries in North America US. and Canada) and Europe (Switzerland, Canada, Denmark, the UK and

Ireland) where highly supportive entrepreneurial conditions appear to play a role in advancing women’s ability to thrive in business. These countries have business environments that generally encourage and support entrepreneurial success, risk taking, creativity and innovativeness, and individuality.

The Philippines: A promising outlier for women in business

TO finally round up its ranking, the index compounded all components for each of the 58 markets. High-income, innovative and welldeveloped economies, such as the US, New Zealand, Canada, Israel, Ireland, Taiwan, Switzerland, Singapore, the UK and Poland topped the overall ranks as these countries have also secured the better ranks for each component of the index. This then reaffirms that markets with highly favorable entrepreneurial frameworks and conditions tend to drive women toward entrepreneurship. However, the Philippines also proved that women in less wealthy economies are able to overcome infrastructural shortcomings as it broke the streak of high-income

countries at rank 11. While the Philippines was part of the lower rankings for “Supporting Entrepreneurial Conditions,” this was balanced out by having topped all 58 countries for “Women’s Advancement Outcome.” The Philippines, thus, reached a high overall ranking as it was able to enter the upper half of rankings for “Knowledge Assets and Financial Acces.” While these evaluations give insight on how promising the entrepreneurial framework in the Philippines already is, the MIWE results also show how the balance of different factors can contribute to an even better environment for women in business. It shows the importance of designing policies and solutions with women in mind, and in such a way that allows for inclusive growth in business. By ensuring that all women in the country can access financial resources such as bank accounts, credit and insurance, and sufficient education, the Philippines will be able to foster a more supportive environment for entrepreneurship and empower women with the right tools and mindset to proactively pursue business.

Local start-up learning center launches world-class online teaching program By Rizal Raoul S. Reyes @brownindio Contributor

N the time of Covid-19 pandemic, entrepreneurs need to be nimble, innovative and dynamic. As far as AHEAD Alpha founder and President Rosanna Llenado is concerned, the major online learning center has launched on May 8, 2020 a program that will merge school practices used in different parts of the world. Aptly named AHEAD Alpha, it merges the best practices through purely online teaching instructions. “AHEAD Alpha pioneers its one-of-a-kind learning method, where traditional, progressive, and home-school education are combined to work in the Philippine context amid the pandemic,” Llenado told the BusinessMirror

in a Sunday online interview. The world-class teaching methods include the following: n Japanese Student Development—It focuses on value-formation in the early stages of childhood; n Northern European Teaching—It teaches trainors to the learning styles of students; and n Singapore Math—It aims to build on a student’s mastery of foundational concepts of mathematics. As an educator, Llenado pointed out that she wanted to think of a way of making education accessible yet exceptional. As a mother herself, she is aware that most parents are scared and reluctant of allowing their children to go back to school immediately, even when the enhanced quarantine is lifted. “Though traditional education has been directly affected by the global crisis, AHEAD’s foresight and

advanced preparation to situations like this allowed the center to adapt to the situation and seamlessly migrate to a purely online educational system,” Llenado stressed. Llenado, who founded AHEAD when she was 26, will be joined by two renowned Filipina educators whose experience include running two of the country’s top educational institutions—Dr. Cornelia C. Soto and Lilia Vengco. Soto was the chairman of the Ateneo education department and the former Assistant Headmaster of its grade school. Vengco served as principal of La Salle Greenhills and the founding principal of De La Salle University Canlubang. Both former chairmen of Philippine Accrediting Association of Schools, Colleges, and Universities, Soto and Vengco have previously

worked with Llenado, helping her establish a pre-school 18 years ago and cofounding an organization that trains teachers and principals with her in 2005. For the continuity of inspirational education, AHEAD Alpha promotes non-graded assessments (students are promoted to the next grade using PEPT/DepEd test), a progressive curriculum, and unique application of Singapore Math and Mind-Mapping and Speed Reading techniques for Science where every students’ needs will be met with the best education each one deserves. “For almost 25 years, we have been helping students from different schools, guiding over 100,000 examinees pass their college entrance exams, assisting young students daily with their academic assignments, and continuously supporting homeschooler families. With these

achievements, we are confident to say that we know what we are doing,” Llenado said. “We want to produce leaders who are creative and critical thinkers. We want our students to have proper values and be aware of the UNDP [United Nations Development Program] developmental goals which are to care about the environment and society,” she added. With its first round of classes going live on June 8, 2020, Llenado said, AHEAD Alpha has consolidated its curriculum and is now preparing unique lesson plans meant to educate every child the best way possible. Using established online systems, progressive lessons, and the concrete goal of making kids love learning again, AHEAD Alpha will surely make a big difference during this unprecedented time.

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Wednesday, May 13, 2020

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Today’s Horoscope By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Candice King, 33; Lena Dunham, 34; Stephen Colbert, 56; Stevie Wonder, 70. Happy Birthday: Question everything, choose quality over quantity and keep your emotions under control. Balance, integrity and fair play will be necessary if you want to avoid conflicts and interference. Choose to look at every angle, and use your intelligence and experience to guide you in the best direction possible. Aim to make fond memories instead of regrets. Your lucky numbers are 9, 17, 23, 25, 34, 36, 42.

TOGETHER AGAIN?

SO the controversial couple has been spotted together again, despite the ongoing ECQ. Their fans are speculating they’re together again, while others are saying they never really split and that it was just a gimmick to drum up publicity for their careers. According to sources, the couple indeed broke up but the girl wants the guy back and is willing to work at addressing whatever problems they had in the past. There is nothing wrong with that. So many couples get back together after splitting. Both are still single so there’s no reason why they shouldn’t reconcile. Or is there? The rumor is that the guy’s father is interfering in his life and while he has no objections with the girl, he has other plans for his son. One of those plans includes a successful career in music, which would be difficult to achieve if the boy has a girlfriend.

FALLING OUT

THEY used to be good friends and they go way back from the days when they didn’t have much money, but the actor and the comedian seem to have had a falling out. The actor used to be young and immature, and that is how he was when he met there the comedian. He is no longer that boy while the comedian, despite having so much money, is the same crass person of years ago. Their differences in opinion lie in their political affiliations. The comedian is a supporter of someone who the actor doesn’t support. Recent developments that the actor has spoken about have only underscored their differences. Last we heard, the actor has said he hoped the comedian would open their eyes to what’s happening instead of living his life of luxury.

HER PAST

SO the young actress and her boyfriend haven’t seen each other since the ECQ and it’s making her miss him so much. It’s not that he hasn’t tried to be with her. It’s just that he is unable to do so due to the circumstances. So the actress jokingly told her boyfriend that perhaps, she should be calling someone else. The boyfriend does not know the joke was made only partly in jest as the actress’ crush, an older actor with a girlfriend, used to be her friend with benefits. This was before the actress and her boyfriend hooked up. The actress likes her crush so much but she really prefers her boyfriend, who is nearer to her in age. The older actor is just someone from her past and she may make jokes about him, but that’s it.

ARE THEY A COUPLE?

EVEN after almost a year, the rumors linking the beauty queen to an actor continues to hound them. The rumors are so persistent that it was speculated that they both had Covid-19. There have been paparazzi videos of them but nothing there shows you that they are a couple. Both are coming off long-term relationships and people are shipping them because they look good together. The actor is older than the beauty queen though but she is mature for her age. So where is this headed? We don’t know as we aren’t even sure that they are dating, although they follow each other on Instagram.

ARIES (March 21-April 19): A positive attitude will help you drum up interest in what you are trying to pursue. Don’t let the changes others make slow you down or confuse you. Follow your heart, and focus on what’s important to you. HHHH

IN this September 25, 2019 file photo, Britain’s Prince Harry and Meghan, Duchess of Sussex, holding their son Archie, meet Anglican Archbishop Emeritus Desmond Tutu and his wife Leah in Cape Town, South Africa. AP

Harry and Meghan mark son’s 1st birthday with charity video

ONDON—The Duke and Duchess of Sussex have released a video of Meghan reading to their son as they mark Archie’s first birthday and promote a campaign to help children during the coronavirus pandemic. The video shows Meghan sitting with Archie on her lap and reading one of his favorite books, Duck! Rabbit! Archie grabs at the pages and helps turn them during the reading. Harry, who filmed the short video, whoops and says “bravo” from behind the camera at the end. The three-minute video was posted Wednesday on the Instagram accounts of Save With Stories and Save the Children UK for a fund-raising campaign with the goal bringing food and learning resources to children and families struggling during the pandemic. Archie Harrison Mountbatten-Windsor was born on May 6, 2019 at London’s Portland Hospital. His

parents chose not to pose with their newborn outside the hospital, a recent tradition in Harry’s family, and decided against giving the baby a royal name. Archie had an eventful first year. He accompanied his parents on a tour of Africa and at the age of four months was introduced to Archbishop Desmond Tutu, a Nobel Peace Prize winner. Harry and Meghan shocked many early this year with an announcement that they intended to quit as senior royals and split their time between Britain and North America. They couple officially stepped down from royal duties at the end of March, saying they were giving up public funding and seeking financial independence. The family went from living in a cottage on the grounds of Windsor Castle, to Vancouver Island in Canada and then on to Los Angeles before lockdown measures commenced. AP

Idris Elba lends his voice to a song helping relief efforts NEW YORK—Idris Elba, who battled the coronavirus this year, has lent his voice to a new song about black men and mental health that will benefit pandemic relief efforts. Elba is featured on the song “Kings” by Kosine, a singersongwriter-producer best known for crafting hits for Big Sean, Nicki Minaj and Rihanna. Kosine, whose real name is Marcos Palacios, is one-half of the production duo Da Internz. Elba delivers a spoken word performance on “Kings,” which was released Friday. “This song looks at mental health, mental enrichment. We should stay away from conspiracies as they are a collision of fear and ignorance, two factors that erode our mental health,” Elba wrote on his Instagram page about “Kings.” The Golden Globe-winning actor has dipped his toe in music multiple times: He’s released several EPs, performed as an DJ (even at Coachella) and coproduced a song on

Jay-Z’s 2007 album American Gangster. Elba also appeared on Macklemore & Ryan Lewis’ sophomore album This Unruly Mess I’ve Made, while audio from an Elba interview is featured on Taylor Swift’s “London Boy”, a song from her latest album Lover. Kosine, who worked on songs for Nas, Ella Mai, John Legend and Ludacris, said a portion of the proceeds from “Kings” will benefit the MusiCares Covid-19 Relief Fund. “As a musician, I’m doing my part to provide audio healing and to keep the mental health of the masses top of mind,” Kosine said in a statement. “In times like these we find out together who we are and who we aren’t. I want all of my brothers to know that they are Kings contrary to the false narrative of traditional mass media. It is my hope that the princes of today grow in this knowledge and lead us into a future honoring the sacrifices of their ancestors.” AP

TAURUS (April 20-May 20): You’ll do best if you listen more and reveal less. Keep your life simple and your expenses down, and avoid exaggeration, indulgence and promises you cannot keep. Monitor what others do, but don’t criticize. Don’t make emotional decisions. HH

GEMINI (May 21-June 20): There is no better time to think, mull over and reflect. Revisit what’s happened, how you reacted and what you can do to make improvements. Anger solves nothing, but taking decisive action will encourage better days ahead. Offer a kind gesture. HHHHH

CANCER (June 21-July 22): Enjoy time alone, and you will have a chance to appreciate your own company as well as reflect on those you miss. Pick up the phone, and let someone you love know you care. HHH

LEO (July 23-Aug. 22): You’ll be on edge if you let the little things get to you. Take a deep breath, and rethink your strategy. Don’t let a change or decision someone enforces cause anxiety. HHH

VIRGO (Aug. 23-Sept. 22): An attitude adjustment may be required. Try moving things around or clearing a space to house a hobby you want to pursue. Keep busy, do something constructive, set up an online group meeting and socialize with like-minded people. HHH

LIBRA (Sept. 23-Oct. 22): This is the perfect day to set up a conference call or to check into social media to find out what your friends have been doing. Watch documentaries or informative videos online, and share what you discover with someone you love. HHHHH

SCORPIO (Oct. 23-Nov. 21): Emotional situations regarding financial, medical or legal issues you face will surface. Stay calm, and look for an innovative way to deal with matters, and it will ease stress and help you make adjustments that will offset future problems. HH

SAGITTARIUS (Nov. 22-Dec. 21): Chat with peers, and you will discover an insightful way to use your skills fortuitously. The suggestions made can lead to an alternative way to earn a living. Don’t hide your feelings. HHHH

CAPRICORN (Dec. 22-Jan. 19): Money matters may be worrisome, but that doesn’t mean you should let anger set in or lead to problems with someone you love. Set new ground rules and a budget that will help you overcome any losses you encounter in order to alleviate tension. HHH

AQUARIUS (Jan. 20-Feb. 18): Channel your energy into physical fitness, healthy living and sharing your thoughts, feelings and intentions with someone you love. Don’t let the changing times ruin your plans. Make adjustments, and proceed. An innovative approach to a growing problem will change the outcome. HHH

PISCES (Feb. 19-March 20): Offer your services online, or get involved in a movement in your community that helps those in need. Finding new ways to adjust to the lifestyle changes you face will help solve boredom. HHH Birthday Baby: You are enthusiastic, innovative and sensitive. You are compassionate and unpredictable.

‘where to begin?’ by blake slonecker The Universal Crossword/Edited by David Steinberg

ACROSS 1 Word after “brush” or “pull” 6 Justice Samuel 11 Scoundrel 14 Scrooge, at first 15 Animal at an oasis 16 Lines of praise 17 Temporarily stop talking to 19 Game console since 2006 20 King in a Shakespeare tragedy 21 Soft ball pitcher? 22 Many are written in HTML 24 Other than 26 Totally 28 Emotionally distant 31 Victor’s cry 32 Tries to start a scandal, say 36 Come together 39 Farmland units 40 Plastic ___ Band 41 Helpful 43 Marijuana-regulating org. 44 They may have all the answers 46 Reply to the Little Red Hen 49 Greet and seat 50 Noodle dish that often contains

peanuts 3 Pet collar attachment 5 57 Absinthe flavor 58 Bit of nesting material 61 Go up rapidly 62 Card game that initially proceeds clockwise 63 Major purchase for some newlyweds, and a hint to the starred answers 66 ...---... 67 Fjord or sound 68 Eighth of a cup 69 London ___ (big Ferris wheel) 70 Expressionless 71 Animal in a Yellowstone stampede DOWN 1 Plentiful 2 Proctor ___ (appliance brand) 3 Biblical near-sacrifice 4 Go down 5 Previously, in poetry 6 Pubescent skin woe 7 Bert of The Wizard of Oz 8 “Peace out” 9 Abbr. before an area code

0 Familiar saying 1 11 Unusual ingredient in some beef dishes 12 Parting word in France 13 Many a Founding Father, religiously 18 Ahead, score-wise 23 Judge Lance 25 + 27 Like a burning candle 29 Dumpster smell 30 End, to Brigitte Macron 32 Paternal palindrome 33 Rocks, at the bar 34 Pretentiously inflated 35 Sauna garment 37 Superlative ending 38 ___ Miserables 41 The “O” of B&O Railroad 42 Chinese architectural philosophy 44 Organization behind the Bay of Pigs Invasion 45 Marsh plant 47 Extra NHL periods 48 Doctoral paper 50 Hesitate 51 Bug

52 Author Calvino 54 Dora the Explorer and Daisy Duck 55 Total Car Care chain 56 Earth-friendly 59 Wee warbler 60 ___-bitty 64 Dynamite letters 65 ___ Roy (cocktail) Solution to yesterday’s puzzle:

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Wednesday, May 13, 2020

Top retail brand turns online in Covid-19 era BEING at home may have made it easier to neglect any of the beauty routines we have established. And although skin care and cosmetics may not be a priority for many during this period of enhanced community quarantine, Rustan’s believes self-care should still matter. Caring for yourself and your family is key during these extraordinary times, and the top retail brand aims to help in every possible way. After all, the first step of caring for others is to care for your self. To aid in social distancing, Rustans.com has made selection of essentials available that allow you to stay home and stay safe. The online store offers a wide selection of shower gels and bath soaps from L’Occitane, Babaria and Palmer’s. Shampoo and other haircare products like conditioner and dry shampoo can also be found from expert brands like Phyto, Himawari and Fab Hair. Body lotion and hand creams are also aplenty, with options from Neal’s Yard Remedies, Nuxe, Acca Kappa and Cath Kidston. Clean hands are important, not just now but all the time. Rustans.com has an abundance of hand washes to choose from. Skin care should not take a back seat, especially for the boss of both work and home. Foaming and exfoliating cleansers are available from Clinique, Murad, Mario Badescu and Dermalogica. Luxurious skin care go-to’s like La Prairie, Perricone, Sisley Paris, Clarins, La Mer and Estee Lauder are also on Rustans. com, bringing forth an exceptional group of self-care items including moisturizers, serums, eye creams and acne solutions. For expectant mothers and new moms, Palmer’s Cocoa Butter Formula gives a number of options to care for the pre- and post-natal tummy. This makes for great gifts for moms, as well as perfume from Solinotes Paris, Issey Miyake, Dolce and Gabbana, Narciso Rodriguez, Vera Wang, Diptyque, and many more, which are all available at the Essentials tab on Rustans.com. Home diffusers and essentials oils from Neal’s Yard Remedies will also be great options that will allow moms to relax and rejuvenate. New products are made available daily so you can continue to give the best care to yourself and your family. These lasting products from rustans. com ensures that your overall health and hygiene needs are first priority. All items purchased from the essentials collection will be delivered right to your doorstep if you’re within the national capital region, and select Northern and Southern Luzon areas. In the spirit of serving customers, Rustan’s also offers a wide range of products from top brands in Fashion, Fine Jewelry, Home, Beauty, and Kids, available for purchase now and delivery after the ECQ is lifted.

AMONG the self-care products available at Rustans.com is Neal’s Yard Remedies Organic Aromatherapy Candle Uplifting.

Rolling with the punches

HE new environment requires new ways of doing things. And with it comes a new way of influencing people and getting things done especially in the workplace. Companies have struggled to come up with creative and innovative ways of working from home—some more successful than others. The burden falls on management to develop measures to cope with the situation and, at the same time, create new strategies in dealing with uncertain conditions. What organizations need now are agile leaders who think on their feet, are adaptable and definitive in their decision-making. Leaders are now challenged to respond to a volatile, uncertain, complex and ambiguous environment, or VUCA. The acronym was first used by the US Army to describe the conditions after the Cold War and is now used by management executives to refer to their external environment which includes their competitors, emerging technologies and new markets. A good example of a VUCA environment is the Covid-19 pandemic. And with the new economic and social conditions, we need agile leaders who can get with the times and break through the chaos to influence and motivate people to get things done. One of the important qualities of an agile leader is someone who is at hand. They are aware of what is happening in the corporate milieu, in their social environment, and within their team so they can adjust and adapt as needed. Agile leaders need to be available when necessary, especially in critical periods where only they can decide, but at the same

CPFI gives back to hospitals, communities amid lockdown WITH the recent extension of the enhanced community quarantine in Luzon to prevent the spread of Covid-19, Century Pacific Food Inc. (CPFI), the country’s biggest canned food maker, continues to provide aid to those who have been greatly affected by the crisis. As thousands of health care frontliners bravely work to combat Covid-19 cases, CPFI showed support for them by providing food supplies to hospitals in Luzon. A total of 250 medical staff in Victoriano Luna Hospital and another 600 in Perpetual Help Medical Center-Biñan received donations that include food products from CPFI brands, such as Century Tuna, 555, Birch Tree Fortified Milk, Fresca, and Hunt’s. CPFI also allocated meal packs for frontliners in 16 hospitals in Metro Manila. Due to protocols of the quarantine, there are some students of the University of the Philippines Los Baños who have been stranded in campus dormitories with limited food supplies. CPFI also donated 1500 cans of 555 sardines and 720 cans of Century Tuna Flakes in Oil which were received by the UPLB Student Council on behalf of students who were staying indoors due to the ECQ. CPFI also went to the city of Santa Rosa in Laguna to provide assistance to Persons Deprived of Liberty who have been affected by the quarantine. A total of 152 PDLs who

are currently detained at the Santa Rosa City Jail Female Dormitory recently received food donations from CPFI. Prison officers and wardens contacted CPFI after the food rations for the female detainees were suspended due to the Covid-19 crisis. CPFI donated 960 cans of Century Tuna Chunky Chili Corned Tuna to the facility. Earlier, CPFI also joined 30 of the country’s top business groups for the fund-raising initiative #ProjectUgnayan, which aims to help feed 1.5 million families or 7.5 million individuals in deprived communities in Metro Manila.

It is also important when you look at processes and methods to eliminate what actually does not work. What is detrimental to an organization is the thinking that what has been done before is still the way to go today. Companies who have failed to adapt quickly to new technologies and processes will find themselves irrelevant to the current issues and problems. time they need to be able to inspire creativity and innovation in ordinary working days. As a leader, your primary role is to clear the path for your team to do well, and you can only clear the path if you are present in the moment. In dealing with a dynamic environment riddled with conflicting concerns, you need to know how to disambiguate issues for your team, and you can only know this if you update yourself with what is happening in your industry. Read more and take professional development courses for your own personal growth so you can gain new perspectives and new ways of working which you can adopt for your own team. One of the things you can take advantage of is the extra time you have for catching up with the latest trends in your industry, or even looking at other industries and how you can adopt what they are doing to your own. It all starts with understanding what can work with your team. But do not also be afraid to use ambiguity to initiate and encourage innovation. I remember my math teacher, Mrs. Cruz, who wrote an algebraic equation on the board and she wanted us all to simplify it. We all tried our best but not even the smartest in the class got the correct answer. She then pointed out that the formula is already simplified. By creating cognitive dissonance, she was able to prove a point—it may seem complicated, but the problem is actually simple. In the same manner, ask your team to address a hypothetical problem so they can start thinking about solutions. As a people manager, you need to have the foresight to raise potent issues to your team so they can be creative and innovative in their solutions. Once issues are identified and suggestions are acknowledged and categorized, an agile leader needs to move quickly while adapting as you go along. Being decisive and flexible at the same time means you need to break down your plan into different steps and aligning with your team after each step to assess if you need to go to the next step, or even come up with a new step altogether. But the final goal and target should be decisive. The key here is to communicate regularly with your team, and solicit and provide feedback so everybody is aligned to the team’s overall objective. A good way to do this is to do a regular team meeting to ensure issues are addressed as expediently as possible. There also has to be a feedback mechanism which alerts you to issues early on so it can be addressed as soon as possible. Once an agile leader has set the overall goals and the team has buy-in, empower and inspire them to

make decisions on their own as long as it is aligned with the overall goal. Allow people to fail and make mistakes because that is an effective way for them to learn, and for you to encourage a growth mindset where you allow your team to think of new ways of doing things in a safe environment of mutual trust and respect. Allow the team to think through mistakes and what lesson can be gleaned from them so people can avoid the same. Too often, managers look at performance deliberations as personality-based and what the person could have done better, but they fail to look at existing processes and methods which greatly contribute to poor performance. People make mistakes and it is our role as leaders to identify which processes can be improved to minimize human error. This will also help you adapt to emerging technologies and new ways of working because once you have processes in place and documented, it becomes easier for you to tweak them as the need arises. It is also important when you look at processes and methods to eliminate what actually does not work. What is detrimental to an organization is the thinking that what has been done before is still the way to go today. Companies who have failed to adapt quickly to new technologies and processes will find themselves irrelevant to the current issues and problems. Also, to free up time and resources, it would be good to review existing tools and processes to assess which ones are the most efficient and effective. Agile leaders also need to know how to navigate new territories. Blue ocean strategy was published in 2004 by W. Chan Kim and Renée Mauborgne who are strategy professors in INSEAD (Institut Européen d’Administration des Affaires). You can learn more about it by reading their book, but the strategy revolves around the idea of creating new markets by creating demand which in turn would yield immediate and profitable growth. Agile leaders are not afraid to venture into new territories and markets because they know that new opportunities await their team, and it is up to them to lead their team to success. We need more agile leaders not just in private business, but also in public institutions responding not just to the pandemic, but to the uncertainty which will undoubtedly come in the months ahead. We need decisive and clear plans from our leaders who need to understand what it takes to bring their organization or business to new growths, and from our public officials who must recognize that adapting means bringing the entire nation forward and not just for a few. n

B6 Wednesday, May 13, 2020

SM Foundation delivers medical supplies for Valenzuela Medical Center frontliners

Enchanted Kingdom takes part in the call for ‘Bayanihan’ to help Healthcare Workers

HOUGH the enhanced quarantine may have halted operations for the first and only world-class theme park, Enchanted Kingdom took the initiative to support healthcare workers in their fight against the COVID-19 pandemic. A team from EK facilitated the distribution of raincoats as an alternative to Personal Protective Equipment (PPEs) and food items to several hospitals in Santa Rosa, Laguna and neighboring towns. Rounding up the medical units that received these tokens of support are: St. James Hospital,Santa Rosa Hospital & Medical Center, Medical City Santa Rosa, Qualimed, Ospital ng Biñan, Global Medical Center Cabuyao, New Sinai MDI Hospital, Perpetual Help HospitalBiñan, Binan Doctors’ Hospital, Unihealth Southwoods, 8 LB Hospitals, Community Hospital Santa Rosa, J.P Rizal Hospital, Las Piñas General Hospital The Park's commitment to support local communities is one way to keep the magic alive, even during these overwhelming,

unprecedented times. To get more information and updates, please visit Enchanted Kingdom's official site: www. enchantedkingdom.ph or go to www.facebook. com/enchantedkingdom.ph

Hospitality and travel stakeholders take on domestic travel sentiment survey

I Valenzuela Medical Center

M Foundation sustains its commitment and efforts in delivering critical medical supplies to hospitals across the country battling the Coronavirus Disease 2019 (COVID-19). The donated critical medical supplies to both public and private hospitals—include personal protective equipment (PPEs), N95 masks, surgical masks, alcohol, goggles, face shields, gloves, and ventilators, among others. Frontliners at Valenzuela Medical Center (VMC), through Anesthesiologist Dr. Christian Cruz Camaing, said that there are supplies of PPEs coming but the number to sustain their need is very thin. “We need all the help and donation we can get in order to protect our frontliners.

These donations from SM greatly help us in battling COVID-19,” Dr. Camaing highlighted. “We were very delighted and thankful because every PPE that you donated means protecting the lives of my fellow frontliners who are there trying to save the lives of others,” Dr. Camaing further added. The VMC is one of the COVID-19 social good partners of SM. It has been catering to cases of COVID-19 since the start of the enhanced community quarantine (ECQ). Aside from its donation of medical supplies, SM Foundation also distributed packed meals, cakes, bread, and other tasty products from Goldilocks—for our frontliners such as health service workers, and to the members of the Armed Forces

of the Philippines and Philippine National Police who man the checkpoints. SMFI, in partnership with Uniqlo Philippines, also reached out to the families in grassroot communities affected by the ECQ by providing them with kalinga (food) packs through the Operation Tulong Express program. SM Foundation is the social good arm of the SM Group of companies. Its social mission is to simply do its share in providing access to quality education, healthcare, sustainable agriculture, social inclusion and relief during crisis. For more info about SM Foundation, visit www.sm-foundation. org, or follow its social media accounts on Facebook, Twitter, and Instagram (@ SMFoundationInc)

INC donates goods, Covid equipment worth P8M to Manila city govt

HE Iglesia Ni Cristo INC) on Friday donated 3,000 cavans of rice and 1,000 sets of personal protective equipment (PPE) to the local government of Manila through Mayor Isko Moreno, who expressed gratitude for the "much needed assistance in this continuing time of need of the City" during the extended community quarantine. Manila Mayor Isko Moreno thanked the INC for its "continuing generosity and selflessness," adding that he was assured by Church officials that "more assistance would be forthcoming." INC General Auditor Glicerio B.

Santos Jr., speaking on behalf of the Church, noted Executive Minister Brother Eduardo V. Manalo's directive to "lead efforts at helping the national government, LGUs, public and private health institutions as well as citizen's groups in their respective drives to combat the Covid-19 virus. "We have been proactive in our assistance and relief efforts from the beginning of the quarantine period in March. The INC is fully committed to continue and intensify its efforts especially now that we need an extra push to flatten the curve," Santos, Jr. said.

The homegrown Filipino church has also provided one thousand pieces (1,000) of personal protective equipment (PPE) and a thousand gallons of disinfectant to the National Kidney and Transplant Institute (NKTI) worth Php2M last April to improve the government hospital's capacity at combatting the corona virus. The INC has likewise donated 5 Million pesos to the Quezon City local government for Covid-19 related relief as well as 3 Million pesos to the LGU of Davao City on top of earlier equipment donations to various QC hospitals. Santos Jr. explained that they have closely coordinated with the Inter-Agency Task Force on the Management of Emerging Infectious Diseases (IATF-EID) for the use of the Philippine Arena, the Philippine Sports Stadium and various facilities inside the Ciudad de Victoria in Bocaue, Bulacan as a "mega facility" for centralized medical operations by the government, especially for returning OFWs who are undergoing mandatory quarantine procedures. "We're all in this together. The fight against Covid-19 will be quicker and more effective with concrete and coordinated efforts. The INC, from the start, chose to be part of the solution instead of being part of the burden and problem to the government," the INC official stressed

N the wake of the corona virus pandemic, the travel industry has come to a halt. Many countries are on lockdown, airlines have suspended flights and services, and most hotel properties have sadly but responsibly taken the decision to close temporarily. It would be an understatement to say that the service-hospitality industry is facing unprecedented times. Travel patterns and trends will definitely not be the same as it used to be. Hotels and Resorts forecast a major decline in business, especially from the International Travelers. Once the ECQ is lifted, most establishments are looking into the local domestic market as its first segment to tap. Hence, we will continue to promote tourism and our hotels for when Filipinos are able to travel again. As part of our road to recovery, big players in the Travel and Hospitality Industry composed of the Philippine Hotel Owners Association Inc (PHOAI), Hotel Sales and Marketing Association (HSMA), Hotel and Restaurant Association of the Philippines ( HRAP), Tourism Congress of the Philippines (TCP), Philippine Tour Operators Association (PHILTOA), Philippine Travel Agency Association(PTAA), Pacific

Asia Travel Association (PATA), Tajara Hospitality and with the support of the Department of Tourism (DOT) and the Tourism Promotions Board (TPB), released the DOMESTIC SENTIMENT TRAVEL SURVEY The above organizations thru their members, clients, colleagues and friends will circulate the survey thru their social media channels and thru direct emails starting May 8, 2020 until May 22, 2020. DRIVENHOSPITALITY 8th Floor, Vector Two Building, Northgate Cyberzone, Filinvest Corporate City, Alabang, Muntinlupa, Philippines T 02 846 0278 F 02 659 2655 www. chromahospitality.com The survey will help the stakeholders understand better the real sentiment of the local market in terms of their travel plans and trends once the ECQ is lifted and moving forward. “The results will give us a better gauge on how to move forward and adjust to the dynamics of this market with the new norms and guidelines in place” said James Montenegro of Chroma Hospitality The survey is initiated by Filinvest Hospitality Group thru Chroma, its management company.

Red Cross 143 contact tracing app gets data-free usage for Smart subs

HE Philippine Red Cross has launched a new mobile application called RC143 which is designed to help health authorities in contact tracing of COVID-19 cases. To provide assistance, Smart is enabling its subscribers to download and use the mobile app free of data charges. The RC143 is an application that will enable contact tracing using the geo-location and sensory capabilities of smartphones. The app will also enable its users to get information on their likely levels of exposure to the virus. With the user's consent, the PRC app will track his movements using the location facility of his mobile phone. This information will go to a data base through which the PRC will be able to determine which individuals have come into contact with COVID-positive cases. "The app will be a great force-multiplier for the Philippine Red Cross's first responders in our active monitoring and efforts to assist affected persons and many more people and communities at risk," said Philippine Red Cross Secretary General Elizabeth Zavalla. "Data is an important weapon in the fight against COVID-19. RC143 can gather information that will help individuals protect themselves and also help health authorities take more effective action to control and defeat this pandemic. This is why we at PLDT and Smart are supporting the Philippine Red Cross in this initiative," said Alfredo S. Panlilio, President and CEO of Smart Communications and Chief Revenue Officer of PLDT. An SMS broadcasting service has also been provided for free to the Philippine Red Cross in their information dissemination

programs to fight the pandemic. This Smart Messaging Suite, powered by Soprano, will provide Red Cross 100,000 free text messages per month to strengthen their messaging capabilities to their constituents and other organizations to augment their communications efforts. Kirt Ugas, Soprano Business Development Manager for The Philippines, said, “We are pleased to be able to provide enterprise messaging services to support PLDT and Smart in their Covid-19 response efforts. The current situation is unprecedented, and we applaud the incredible efforts of all frontline responders, who are going above and beyond to fight this pandemic. With more than 100 million mobile phone subscribers, SMS is still used as the primary mobile service in The Philippines. We are aware of the role technology players like us play in the current situation, and hope our messaging services will help alleviate some of the pressures on their communications efforts.” "We have high hopes for RC143, in the hands of many Filipinos, not only to contain the spread of the virus but to actually safeguard us in our certain but slow and cautious return to normal social and economic activity," said Zavalla. This service is another addition to the collective bayanihan efforts of the PLDT group and the MVP Group of companies in assisting government agencies and nongovernmental organizations in their efforts to control the spread of the virus and assist the general public amid the ECQ challenges. The RC143 app can be download from bit.ly/RC143-Android To know more about the efforts of the PLDT Group in beating the COVID-19 pandemic, please visit https://beta.pldt. com/covid19/

BusinessMirror

Editor: Tet Andolong

Wednesday, May 13, 2020 B7

AboitizLand celebrates milestone, seeks to develop more innovative and fully integrated communities in Phl

By Rizal Raoul S. Reyes @brownindio

boitizLand just recently achieved a milestone when it turned 25 years, highlighted by expanding its national presence and introducing best practices across various markets.

Transformative beginnings

The company traces its roots when the Aboitiz Group and the Tsuneishi Group of Japan formed a joint venture called Cebu Industrial Park Developers Inc. (CIPDI). CIPDI joined the rapid industrialization drive in Cebu in the 1990s through the 274-hectare West Cebu Industrial Park (WCIP) for shipbuilding and allied activities in Balamban. “The project transformed the area from fourth class to a first-class municipality, boosting the skills and productivity of the people while also providing communities with environmental and outreach assistance,”AboitizLand said in a press statement. A year later, CIPDI was tapped to develop the Mactan Export Processing Zone 2.

Innovative real-estate concepts

After achieving success in the industrial field, the company was now ready to move toward more innovative residential concepts. In 2001, the company became known as AboitizLand. The company had a rousing debut as its 5-hectare Mahogany Grove was sold out in 48 hours. It resulted in the development of more master-planned communities from the group’s

portfolio. This includes the upscale North Town Homes, Pristina North, and Priveya Hills as well as nature-sensitive developments such as Foressa Mountain Town and Amoa.

Strategic expansion

Gearing up for national expansion, AboitizLand launched its first residential project outside Visayas—a 43-hectare beach community tucked within San Juan, Batangas. The exclusive Seafront Residences is master-planned by world-renowned planner DPZ Partners LLC with houses designed by Budji Layug + Royal Pineda Designs Architects Inc. Furthermore, AboitizLand entered the Central Luzon market by introducing three Ajoya communities in key cities: Cabanatuan, Capas and Pampanga. It also entered a joint venture with Point Blue to develop integrated micro-studios in Metro Manila.

Pioneer of industrial-anchored townships

RighT now, AboitizLand is now completing the commercial and residential components of its existing industrial parks. The company is transforming its LIMA Estate into a fullyintegrated township with The Outlets at Lipa,

LIMA Estate is the first fully integrated township of AboitizLand with LIMA Technology Park at its core.

LIMA Exchange, and The Villages at Lipa to complement LIMA Technology Center. “This new industry city further brims with promise, as business-process outsourcing [BPO] centers in response, schools, and hotels are all set to rise within the estate, elevating the Lipa-Malvar community with a truly complete live-workplay experience,” the company said.

AboitizLand puts the Filipino touch in the architectural style of its homes. “Incorporating classic elements of the Filipino bahay na bato with features that suit the local climate and context, the houses sport an elegant and timeless feel that set them apart in the market,” the company said.

Unique design philosophy

AboitizLand has proven it is a major player in the property market. Last year, AboitizLand clinched the grand prize during The Outlook Awards: Philippine Buyers’ Choice Property Awards for Best House of the Year in VisMin with its residential community, Amoa in Compostela, Cebu. Inspired by the iconic bahay na bato, the project is set on rolling hills that provide striking views of nature. The company also earned multiple nominations as Best Developer in Luzon, Best Developer in VisMin, and Best Premium House for its Batangas beach community, Seafront Residences.

Inspired by the design philosophy of New Urbanism, AboitizLand’s residential projects have received warm response from the property seeking market. Their signature communitycentered approach fosters safe, connected, and harmonious living spaces for raising families in safe and sustainable neighborhoods—ideal for property owners and their loved ones who want to bond and pursue an active and healthy lifestyle.

Advocate of Filipino and Asian contemporary architecture

A believer in the Filipino culture and heritage,

Award-winning projects

World-class recreational spaces

Taking retail shopping up a notch, the subsidiary of the Aboitiz Group introduced the first outlet shopping mall in Cebu. The Outlets at Pueblo Verde in Lapu-Lapu City redefined the commercial scene with year-round discounts and a plethora of dining options. Bringing the same concept to Luzon, The Outlets at Lipa was launched in 2018 and has since evolved into the latest lifestyle destination featuring the Aboitiz Pitch. The artificial turf conforms to International Football Federation (Fifa) and Asian Football Confederation (AFC) standards with 1,500 seating capacity and is built to withstand high-intensity matches like the Philippines Football League, which it hosted in 2019.

Corporate philanthropy

As a responsible corporate citizen, AboitizLand is active in corporate social responsibility efforts covering waste management programs, purposive skills training workshops, in promoting holistic youth development through the long-running AboitizLand

Football Cup. The company implements the projects within areas where AboitizLand developments are situated—fulfilling the Aboitiz brand promise by advancing the lives of the communities that host them, as they advance the interests of the business.

Sustainability champions

Being a believer in sustainability, AboitizLand has always advocated for environmentally sensitive planning and building approach for its communities—from residential neighborhoods designed to respect the lay of the land, to nurturing a pawikan sanctuary at Seafront Residences. Pushing the envelop further, AboitizLand established a partnership three years ago with the University of the Philippines Department of Environmental Sciences for a five-year pawikan conservation and management plan in the area. After turning 25, AboitizLand now looks to further expand its reach by continuing to develop innovative and fully integrated communities in more locations across the Philippines.

The Role of Healthy Buildings in Protecting Families Against Future Pandemics

atters of health have taken the spotlight since the news of the novel coronavirus broke. It’s not only the medical industry that has been shaken up; all sectors of society felt the effects. The Philippine real-estate industry, for one, rolled out special precautions in ensuring the well-being of stakeholders. Condominiums have placed alcohol dispensers in lobbies and shared facilities, even implementing “no mask, no entry” policies. Meanwhile, malls and retail amenities have set visual marks on waiting areas, encouraging strict social distancing among grocery shoppers. As health becomes the top priority today and likely in the future, questions about more drastic changes in buildings have surfaced. The concept of “healthy buildings,” for one, has been revisited with more consideration. The question stands, can properties safeguard people from future pandemics? In the fifth installment of Strategizing Real Estate Marketing: An Industry Response to Covid-19, Lamudi’s developer webinar series, this matter has been the focus of the discussion of another panel of experts: Christopher Narciso, executive vice president of Arthaland Corp.; Emma Imperial, president and CEO of Imperial Homes Corp.; and Marla Mendoza, assistant marketing manager of Filigree. Here are some of the highlights of the latest webinar:

Definition of ‘healthy buildings’

A building that has features that protect and take care of the occupants—this is how Narciso defined healthy buildings. “It promotes practices that keep the occupants well and facilitates opportunities for them to connect with one another and to live life to the fullest,” he added. For their organization, Narciso shared that they had the honor of securing green certifications on their projects. Arthaland Century Pacific Tower, for one, earned LEED, BERDE, and EDGE certification, and is the first office building in the country to be triple certified in relation to green standards. This is a testament to the building’s reduced use of energy and natural resources. Recently, it also received its WELL certification for buildings committed to improving human health. Narciso noted that the features of the building are geared toward adding benefit to end-users. For her part, Imperial focused on the use of special raw materials in defining what healthy buildings are. “We have a technology that comes from Denmark that uses ultra-highperformance concrete. This kind of material is non-porous, and therefore bacteria can’t come in, and the life of people inside is going to be a lot safer,” she noted. Meanwhile, noting the shift from the popular term “green buildings” to “healthy build-

ings,” Mendoza mentioned that the latter carries a more holistic perspective, in a way that properties today go beyond addressing the environmental repercussions that come with construction and maintenance, focusing also on the safety and well-being of the very occupants of the property. “The whole point of having green buildings is fighting climate change. But then, there’s heightened awareness now that buildings should be able to support and protect humans. It’s not just for the environment, but also for the occupants,” she said. Healthy buildings should accommodate people’s physical, emotional and occupational needs. This is the philosophy Filigree operates on when designing and constructing buildings, Mendoza shared. “We really focus on human experience. We wanted to offer projects that will better the life of end-users.” Their most premium offering, Botanika Nature Residences, is a testament of this, having received a four-star rating from BERDE, a local certification program for green buildings.

Safeguard against outbreaks

Healthy buildings may be a major line of defense against infections from pandemics. Mendoza cited their real-estate project as an example. “We’re very much into open, generous spaces. We also have single-corridor hallways, which allow social distancing.” Extending to their project’s ventilation systems and the presence of natural light, she noted that these allow dwellers to have a better, healthier immune system. Most of their units feature balconies that offer ample space for people to soak in some sunshine. Mendoza noted, “The more that you have a desirable indoor environment, the more you want to stay inside as well, the more you’re not anxious.” She, likewise, cited the importance of being in a walkable community, as it encourages people to have a little bit of exercise when going outside. Narciso agrees with Mendoza in how certain features in healthy buildings contribute to preventing transmission of infections. He, however, turned to the importance of soft skills in maintaining properties. “There has to be protocols or practices in place for the occupants, as well as the property manager.” He added, “it’s crucial for property managers and the residents to be very familiar with the safety measures and health-care guidelines to ensure that everybody will be safe and healthy.” Meanwhile, Imperial reiterated the use of ultra-high-performance concrete in preventing diseases in residential communities. “This high-performance concrete is able to avoid leakproof surface because of its non-porosity. This one resists the growth of bacteria and viruses.

In other words, the application of high-performance concrete eliminates potential diseases and infections,” she said. In contrast, conventional hollow blocks eventually allow mold to build up inside homes, affecting the respiratory health of the occupants over time. Mentioning solar power, Imperial likewise noted that the use of renewable-energy sources is crucial in reducing pollution at large, thus protecting people’s well-being.

A new essential in property development

Asked why developers should consider healthy buildings in the first place, Narciso harps on the interconnectedness of industries, noting that it’s important to look at society as a whole. The current global health crisis has made the inter-relationships among different sectors more apparent. “I think for one industry and one business and one company to do well, it has to take care of society and its community. I hope a lot of other developers would start to adopt the same outlook.” While recognizing that there are costs in putting up healthy buildings, he mentioned that there are meaningful rewards from it, and that there are far more risks on the opposite side of the coin. He said, “Having unhealthy buildings, unhealthy environments, unhealthy work setups actually cost more.” “If there’s one lesson we can derive as developers, it’s that what we perceive as additional costs to ensure that a development is sustainable, green, and healthy are actually minuscule [compared] to the negative effects that can happen,” he added. For Imperial, it’s imperative that developers factor in climate change in their projects, as it’s key to protecting not only the world but also the communities they’re serving. She, likewise, noted the change in buyers’ preferences. “They now realize that a green home is better for them. Our company has been seeing 70 percent [growth] every year,” she said. Mendoza, on the other hand, said that the current health crisis should prompt industry players to see healthy buildings as a vital part of development. “It’s no longer just a statement, if I may say, or a marketing angle. It’s really a necessity now, an essential. We just can’t take it for granted,” she said. While recognizing that green practices have long been associated with luxury developments, Mendoza noted that there are ways to commit to the standards of health and wellness in properties, while still keeping costs low. Moreover, she reiterated what Narciso said about the longterm benefits of investing in healthy buildings. She said, “The lasting value of what you can get from making a green building has far more worth

than the initial cost that you will accumulate.” Advising developers to be committed to “people-centric,” future-ready designs from the get-go, Mendoza cited that details, such as the location, should be a top consideration in complying with health and wellness standards in real estate. She noted that buyers are more aware now of how their homes affect their well-being, with some wishing that they have more open space or are near an essential service facility, say, a supermarket. “We have to move forward not just by building, and building, and building. It really has to be more well-thought-out, purposeful, and intentional,” she shared.

Transition to healthy and green

The stakes are higher indeed for healthy buildings, Mendoza said. She, however, recognized that this is something industry players can advocate for. “Real estate can even leverage on this, and [tell] the market that they need this, that this is actually essential. This is no longer for luxury,” she mentioned. “Everyone has a right to live and work in a healthy building,” she added. In a way, Narciso sees that healthy buildings will be a part of the status quo post-pandemic. He said, “What this pandemic has brought about is the [acceleration] of norms and practices that will eventually become the new normal: the need for green and healthy [buildings], observing sustainable practices, taking care of the environment and the people.” “Whether it’s for luxury or affordable or mid, green or healthy features were treated as marketing elements, things to help sell. But I think we all have to adopt this as part of our lifestyle now. These are basic essentials to healthy living,” he added. Developers are likely to move into the direction of health and wellness practices in design and construction of future buildings, Narciso believes. He, however, acknowledges that many see this as an “unessential cost,” taking away profits. He added, “It takes a lot of commitment, a great deal of commitment and discipline, for a company or a developer to achieve sustainability and those green building certifications. It’s not easy.” The entire organization must be compelled that this move is necessary and beneficial. The cost is indeed the biggest reason developers are not compelled to subscribe to the sustainability agenda. Imperial noted, however, that there’s greater value for money in going healthy compared to doing things the traditional way. She explained that the technology they’ve been using allows materials to last for a hundred years, compared to a typical hollow block that lasts only 30. To this, she noted, “You see the value of that particular house to be growing

seven times compared to the hollow blocks.” The ease in building likewise trumps the cost, Imperial said. “The way to construct this new building technology comes from the factory, and the walls are built in four hours, compared to 30 days,” she shared.

Sustainability amid Covid-19

While property developers are set on their green efforts, it’s not a secret that the very pandemic poses a threat to the business environment. Acknowledging this, Mendoza pointed out that this should serve as a challenge for players to fully dive into the idea of better, healthy buildings. “This pandemic [should] push developers to innovate, to think out of the box, to be more mindful of their actions,” she said. Keeping health in mind is inevitable since the end-users themselves will be more healthconscious. Mendoza explained, “The market will be more meticulous about their future purchase. Even with nonresidential, even with the skeletal work force, you’d want to go to a building that will secure your safety and you know will follow sanitation standards.” Even existing buildings can follow the health and wellness agenda. Mendoza said that good property management is key in achieving this. For his part, Narciso urged property developers to look at the end-users of buildings. “The market will demand all [healthy] features to be in place. They would prefer to stay in homes, office buildings, or condos that provide for a better well-being and overall satisfaction,” he said. The move to healthy buildings hits the pressing needs of a business environment in crisis. Narciso said, “Sustainability really means the environment, economy and society. People, planet, profit. You have to take care of all of that.”

Changing market needs

Considering the new normal when it comes to buyers’ needs and demands, Narciso was quick to say that it’s not just checking certifications that can inform the market about the wellness practices of a building. “Those certifications are either plaques or papers, but nothing beats the actual experience. You would feel that. Our residents in our Arya condominium project in BGC always say they actually love living there because it feels really good,” he shared. Narciso gave a few tips on what exactly to look for in a healthy building. For workplaces, he said, “One is the amount of light that comes in. There’s a feeling of airiness and brightness that leads to one’s positive feeling. The air quality is another thing. And I think, the density. The simple elements of people transport in a building, such as the quality of the elevators.” For residential projects, Narciso started out by mentioning the use of solar power. He then extended this to water-saving features, amount

of [sunlight], quality air, amount of open space, type of construction materials, and utilization of smart features, such as automation.

Opportunities in the healthy buildings segment

It’s not a secret that the pandemic has brought about business and economic issues. For the property experts, however, crises can likewise bring opportunities to serve the market better. “People living in cramped areas are going to be potential buyers. In my case, i’d like to be in an open area with more space, in a safe building that really promotes healthy benefits,” Imperial noted. This, coupled with the buyer’s newfound focus on energy-saving features and reduced likelihood of home repair and maintenance post-pandemic, will drive the demand for healthy buildings, she added. Healthy buildings will, likewise, gain more attention since they’re usually in desirable communities, walkable and self-sustaining, and with pharmacies, offices, and other establishments within reach. With the work-from-home potentially being the new normal, Imperial said that people are more likely to move out of the central business districts. “Many of them would want to live in areas where it’s healthier and a lot less polluted,” she shared. Mendoza, meanwhile, feels that the pandemic has solidified their commitment as a company to the property factors they’ve long been focusing on: location, space, design and presence of nature. “Developers should concentrate on these aspects,” she noted. “Now more than ever, it’s very essential for us developers to really push forward with this and to be more aware of what has to be done,” Mendoza added. Narciso agrees with Mendoza about the pandemic emphasizing the need for healthy buildings. He pointed out, “It provides a spotlight really on the importance of the things we believe in. As a company, we’ve adopted a design philosophy where we want to leave a legacy of sustainable developments. The silver lining here is, it allows our market, as well as other stakeholders, to truly understand and appreciate the reason we build things this way, why we actually want to come up with these types of developments.” Narciso hopes to see other industry players adopting healthy, green developments. “We would like to see the whole industry move toward a more sustainable way of doing things,” he said. The coronavirus pandemic has increased awareness about health and wellness across all sectors. The real-estate industry, for its part, responds through the development of healthy buildings.

Sports BusinessMirror

B8 Wednesday, May 13, 2020

mirror_sports@yahoo.com.ph / Editor: Jun Lomibao

PSC PRAISES CONGRESS ON SPORTS ACADEMY T

HE Philippine Sports Commission (PSC) praised both chambers of Congress for ratifying the bill that seeks the creation of the National Academy of Sports (NAS). “It’s a welcome development,” PSC Chairman William Ramirez said. “The bill will [continue] the sports agency’s main initiative of grassroots development.” Sen. Sherwin Gatchalian, chairman of the Senate Committee on Basic Education, Arts and Culture, led Congress on Monday in ratifying the bill that would establish the NAS. It is expected to be signed into law by President Duterte. Gatchalian headed the bicameral conference which reconciled differences in both chambers’ proposals to establish a sports academy that will institutionalize an educational system within the framework of a national sustainable sports program. “Anything that supports the development of sports in the country is a great boost to the country’s efforts to build a deeper grassroots sports program which feeds our elite sports program,” Ramirez said. Gatchalian credited the bill’s coauthors and cosponsors, including Sens. Juan Edgardo Angara, Christopher Go and Pilar Cayetano, for pushing early approval of the remedial legislation. The bill provides for the establishment of the academy’s main campus at the existing New Clark City Sports Complex in Capas, Tarlac, which will be constructed by the Bases Conversion and Development Authority. “It’s like hitting two birds with one stone,” PSC Commissioner Ramon Fernandez said. “Affording our youth quality education and world-class sports training is indeed a very commendable move to say the least.” “This will be an avenue for us to produce world-class Filipino athletes,” PSC Commissioner Celia Kiram said. “Moreover, the athletes will also be academically adept while pursuing their dreams for sports excellence. The NAS will be attached to the Department of Education (DepEd), in close coordination with the PSC. The incumbent Secretary will be the Chairperson of the academy’s Board of Trustees. An Executive Director, as appointed by the DepEd Secretary, will head the NAS and will be responsible for the academy’s administration and operation. The bill gives preference to an Executive Director who hails from the field of sports. “The NAS will provide a clear direction for student athletes not only in their quest for sporting excellence but also in academic field,” PSC Commissioner Charles Maxey said. “With this high school, student athletes will be properly guided in their chosen disciplines aside from enjoying the luxury of training in a world-class facility.” “This gives everyone in the sporting community something positive to look forward to,” PSC Commissioner Arnold Agustin said. “This move will greatly help our youth to bravely proceed to pursue their athletic dreams along with their academics.” The NAS is tasked to implement a “quality and enhanced secondary education program” with a special curriculum on sports as provided in the program geared towards early recognition and development of talented students, especially those who have shown potential to excel in sports. Ramon Rafael Bonilla

GAWILAN:

LIFE GOES ON

PARALYMPIAN Ernie Gawilan says lives are far more important than holding the Para Games.

By Ramon Rafael Bonilla

ARALYMPIAN Ernie Gawilan lost a chance to show his winning act before his countrymen following the cancellation of the 10th Asean Para Games. But the 29-year-old who won for the Philippines its first Asian Para Games gold medal in Jakarta two years ago that complimented his participation in the Rio de Janeiro 2016 Paralympics, said life, sporting life for that matter, must go on. “It’s fine with me,” said the pride of the Island Garden City of Samal, who could have anticipated the cancellation of the Games the country was supposed to host at a third rescheduled date of October 3 to 9. “Lives are far more important than holding the Games,” he said. The Covid-19 pandemic caused the Games’ cancellation after the Philippine Sports Commission (PSC) decided to rechannel its P400 million funding to the war against the virus. Last Friday, the Asean Para Sports Federation officially called off the 10th edition of the Games with APSF President Osoth Bhavilai making the annoucement in a letter to all National Paralympic committee heads of the region. Gawilan is the country’s top prospect in the Asean Para Games. He won three gold medals—400m freestyle, 100m backstroke and 200 individual medley— in Jakarta 2018 and has in his collection seven gold medals from the Asean Para Games—three from Napyitaw 2015 and two each from Singapore 2015 and Kuala Lumpur 2015. In Rio 2016, Gawilan competed in the 400-meter and

Sotto joins NBA G-League K

ai Sotto, the 7-foot-2 phenom who is being chiseled to be the first full-blooded Filipino to be able to play in National Basketball Association (NBA), is skipping college in favor of the G-league. Last Monday when he turned 18, Sotto reportedly signed for the NBA’s developmental league, thus becoming the G-League’s first international player. Sotto signed up with the league’s newest team Southern California where he will play alongside fellow amateur stars Jalen Green, Isaiah Todd and Daishen Nix. Green, a Filipino-American prospect and a top recruit for the 2021 class, also signed up despite offers from NCAA

Division 1 teams Arizona, Florida Sate and University of Southern California. Sotto flew to the US in April last year and has been honing his skills at the Atlanta-based The Skill Academy. He is considered a four-star prospect. “There hasn’t been any full-blooded Filipino that has been to the NBA and I just want to be the first one. I just want to show everyone that we can also make it,” Sotto told sports web site Bleacher Report. With the G-League, the former Ateneo star could receive an offer of $500,000, including other benefits such as sponsorship deals and incentives. Ramon Rafael Bonilla

WILL COVID-19 KILL SPITTING IN SPORTS? By Jim Litke

The Associated Press

E come not to praise the loogie, but to bury it. Already banned on sidewalks, outlawed indoors and pooh-poohed by polite society, that gob of saliva and Lord-knows-what-else is done mucking up sports. In the wake of the new coronavirus, teams are revoking the germ-landing privileges that turned dugouts, benches, boxing rings and even grass fields into potential biohazard sites. No sharing towels, hats, bats, gloves or water bottles. Which could mean the golden era of spitting, slobbering, gleaking, glanding, hawking, hocking, venoming and expectorating is about to dry up. Or not. “About time they did something,” said Bobby Valentine, who played and managed in the major leagues for more than 40 years, including two stints in the Japanese Pacific League. “I was over there for seven years and I could probably count on one hand how many times I

saw a ballplayer spit. Heck,” he added, “they don’t even chew gum.” But a moment later, Valentine remembers a photo tucked in a drawer somewhere in his Stamford, Connecticut, home. It reminds him why the loogie will not disappear without a fight. “It’s a picture of me after a game from 30 years ago, back when I was managing the Rangers and TEXAS Rangers third baseman Isiah Kiner-Falefa spits during a baseball game against the Boston Red Sox in Arlington, Texas, in September last year. AP

100-meter free and 100-meter back but didn’t make the podium. He, however, is bound for his second Paralympics in Tokyo, having qualified in the 400-meter free S6— short stature, major limb impairment or loss in two limbs—event. Gawilan said that athletes like him are built to endure a tough beating that now includes the negative effects of the coronavirus. “As an athlete, it is important that we have a strong mind. We should not be carried away by the situation and must remain focused on moving forward,” Gawilan told BusinessMirror. “The challenges could rise from any direction. This time, it’s in the form of a virus pandemic.” The Asean Para Games was not the only major sporting event shut down by the pandemic. The PSC also called off all competitions, including the Philippine National Games and Batang Pinoy. The fate of this year’s Para Games is up for discussion by the APSF, but there are indications the 10th edition could be called off because it would overlap with Vietnam’s hosting of the Games—alongside the 31st SEA Games—in 2021. “The APSF would now be taking further steps to hold a virtual APSF Board of Governors Meeting soon to facilitate discussion on the cancellation and the necessary steps moving forward,” Bhavilai said. The Philippines was supposed to host the Para Games in the

same clusters used for the 30th SEA Games—Clark, Subic and Metro Manila—but the major sports complexes, including the New Clark City in Capas, Tarlac, were transformed into quarantine facilities. The Philippines was supposed to host at least 18 sports for the 10th Asean Para Games, that were already imperiled as early as March when Malacañang sought the Athletes’ Village at the New Clark City, the PhilSports Arena in Pasig City and the Rizal Memorial Coliseum and Ninoy Aquino Stadium in Manila as quarantine centers. The Para Games were to be staged in the same venues used for the 30th SEA Games in Clark, Subic and Metro Manila. Gawilan, like everybody else, couldn’t train in conventional manner and has to improvise by staying in shape indoors. “But, I really miss the water,” he admitted.

KAI SOTTO skips college in favor of a more potential entry to the National Basketball Association.

behind me there’s this elongated view of the dugout. There must have been 200 of those green Gatorade cups and all this other...let’s just say gunk, laying around. “And I used to wonder even then,” Valentine mused, “why guys couldn’t clean up after themselves.” The answer may be as old—and as American—as the sport itself. Baseball began as a working-man’s game on sandlots and dusty diamonds, and more than a few players struggling with “cotton mouth” turned to chewing tobacco (and later gum and sunflower seeds) to work up some moisture. It became an institution in no time flat. Pitchers figured out that loading a glob onto one side of the ball made it dip like crazy. Fielders pounded spit into the pocket of stiff leather gloves to soften them up and hitters rubbed it on their hands or lacquered up bat handles to improve their grips, at least temporarily. But it had psychological value, too. Spitting helped some soothe jangling nerves, show contempt or machismo, or just mark their territory like dogs do. It was only a problem when an opponent got in the way of its gravity. It isn’t just baseball, of course. Rough-and-tumble sports like soccer and football embraced the practice at the beginnings of their games, too, and once grabbing a swig of water on the sidelines during a break became available, it practically elevated it into an art form. But don’t expect any new masterpieces to flow soon. With Germany’s Bundesliga considering a return to play within week s, Michel D’Hooghe, the chairman of Fifa’s medical committee, is strongly advising against any soccer league restarting until the fall. But if they do, he wants even the most casual dribble on the pitch punished with a yellow card.

“It is unhygienic...I think we should have to avoid that at maximum,” D’Hooghe said. “The question is whether that will be possible.” More genteel pursuits like tennis and golf have proved that it is, although both Tiger Woods and Sergio Garcia handed over hefty fines for leaving something besides sweat out on the course. Basketball and hockey are stuck indoors, but only one of them said no to spitting. Puckheads defend hockey’s choice by arguing players who get a tooth knocked out during a game shouldn’t have to swallow a chiclet. Fair enough. But if you’ve ever watched a game and seen how much blood, sweat and tears they voluntarily share on the bench, it shouldn’t come as a surprise that the National Hockey League has been hit twice in recent years by outbreaks of mumps. But that’s about to change. The coronavirus has pulled the rug out from underneath just about everything in sports, and better sanitation shouldn’t require a seismic cultural shift. Just rise at some ungodly hour and catch a Korean Baseball Organization game on ESPN. The KBO is at the vanguard in the return of live sports. It checks players’ temperatures twice daily, requires umpires and trainers to wear masks and gloves, and banned spitting, handshakes, fist-bumps, high-fives and perhaps most noticeably, a live audience. That’s been replaced by banners picturing fans— also wearing masks—stretched across every row. In a spectacularly complicated nod to social distancing, the opening pitch was rolled to home plate by a youngster wearing a uniform inside a clear balloon made up to look like a baseball.

Al Mendoza alsol47@yahoo.com

THAT’S ALL

Will Pacquiao fight again? WILL Manny Pacquiao ever fight again? No one can tell. Only Pacquiao can tell. Before Covid-19 knocked down the world—definitely no knockout—Pacquiao was reportedly set to fight either Errol Spence Jr. of Dallas, Texas, or Mikey Garcia of Oxnard, California. Spence and Garcia, both unbeaten, fought on March 16, 2019, before a jam-packed crowd at AT&T Stadium in Dallas. Spence was 24-0 with 21 knockouts, Garcia 40-0 with 30 KOs. But Spence proved too skillful and smarter than Garcia, and easily scored a unanimous decision victory. Two judges saw Spence the winner by identical 120-107 scores and the third judge 120-108. Although there was no knockdown, Spence clearly won it and, absolutely overwhelmed by his victory, he did some breast-beating. Seeing Pacquiao in the ring right after Jimmy Lennon announced Spence the winner, Spence called Pacquiao to his corner. Then he told the TV lady interviewer: “I want to fight Pacquiao next!” “Why not?” Pacquiao retorted. Nothing came out of it as Pacquiao would fight Keith Thurman four months later on July 21, 2019, and Spence took on Shawn Porter two months later. Pacquiao barely won, leaning on his first-round knockdown of Thurman to snatch a split decision. Two judges gave Pacquiao identical 115-112 scores while the third judge saw Thurman the winner by 114-113. “I knew it was close and it was that first-round knockdown that saved him,” said Thurman, who lost for the first time in 30 fights, with 22 knockouts. For Pacquiao, the win improved his record to 62-7-2 with 39 KOs, becoming, at 40, the oldest welterweight world champion to claim any of the recognized belts. Spence also captured a unified world welterweight (IBF and WBC) by a similar split decision victory over Porter as two judges gave him identical 116-111 scores, with the third judge making Porter the winner by 115-112. Before Spence scored his 26th straight victory (21 KOs), Pacquiao said he wanted to fight the winner of the SpencePorter bout held at Staples Center in Los Angeles, California, on September 28, 2019. Months went by but no done deals between Pacquiao and either Garcia or Spence. Then Pacquiao turned 41 on December 17, raffling off a brand-new car again to mark the occasion. Then the Covid-19 started striking the world beginning in February. Today, it has become pandemic, our nowgrieving globe in the grip of the Chinese-born virus. Will Pacquiao, himself a near-Covid victim and with time not very much on his side now, fight again? Only time can tell. THAT’S IT Happy birthday (May 12) to Migel Antonio R. Mendoza, whom Francesco Dakila “Ikap” M. Sadiwa and Ikap’s sister Mayasoh love to call “Kuya Biley” but who is plain Migel in the household of Coach Dayong (San Miguel Beer). Kuya Biley’s one notable birthday wish is to pass the college entrance exams of the UP-Diliman, which he eagerly took filled with hope upon the spirited coaxing and coaching, in large part, of his Nanay Soh. The results have yet to be released as officials are still grappling with the sheer volume of examinees running into millions nationwide. Although Kuya Biley is already comfortable with the happy fact that he had passed both the entrance exams at Ateneo and De La Salle, he said he would always prefer entering UP so that he could join his siblings Mayo and Dada there. “Also,” Kuya Biley said, “I want to help unburden my father from financial matters as to study at UP would mean no tuition for me.” How noble, touching. May God grant your wish, Kuya Biley.