BusinessMirror May 25, 2020

Q1 state firms’ subsidies rise 3-fold

By Bernadette D. Nicolas

S

UBSIDIES extended by the national government to state-owned firms in the first quarter of the year grew more than threefold to P36.154 billion, data from the Bureau of the Treasury showed.

From P9.304 billion worth of subsidies recorded in January to March last year, subsidies to government-owned and -controlled corporations (GOCCs) for the same period this year jumped by 288.59 percent.

Of the total government subsidy for the first quarter, 93.2 percent or P33.704 billion went to

A MAN and his dog enjoy the relative “freedom” afforded by the easing of community quarantine measures in Metro Manila. ROY DOMINGO

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major nonfinancial government corporations, while the remaining P2.450 billion was shared by other government corporations.

The National Electrification Administration (NEA) and the Light Rail Transit Authority (LRTA), which are major nonfinancial government corporations, cornered the biggest chunk of subsidies worth P11.015 billion and P10.586 billion for the first three months of the year, respectively.

The National Irrigation Administration (NIA) came in next, receiving P8.836 billion, followed by the National Food Authority (NFA) with a total of P2.979 billion.

The national government gives subsidies to GOCCs either to cover operations that are not supported by corporate revenues or fund specific programs or projects.

Among those that received more than P100 million in subsidies for the same period are Small Business Corporation (P500 million), Philippine Heart Center (P354 million), Philippine Fisheries and Development Authority (P342 million), National Housing Authority (P288 million), Philippine Children’s Medical Center (P234 million), National Kidney and Transplant Institute (P225 million) and Philippine Rice Re-

search Institute (P162 million).

For the month of March alone, the government released P25.667 billion in subsidies, rising more than fourfold or 347.16 percent from P5.740 billion in the same month last year.

The total amount released in March was also the highest since the P35.240 billion released in March 2018.

Of the total March subsidy this year, 96.09 percent or P24.664 billion was extended to major nonfinancial government corporations, while the remaining P1.003 billion went to other government corporations.

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Monday, May 25, 2020 Vol. 15 No. 228

P25.00 nationwide | 2 sections 18 pages | 7 DAYS A WEEK

FROM 45-DAY LOCKDOWN T

By Tyrone Jasper C. Piad

BOTH HOUSE, SENATE UPBEAT ON ‘CREATE’ BILL’S TIMELY OKAY

HE Philippine banking industry is seen registering P368 billion worth of bad loans due to the coronavirus disease 2019 (Covid-19) pandemic, according to a report by the Inter-Agency Task Force Technical Working Group.

The report, titled “We Recover as One,” noted that the estimated amount represents 4.9 percent of the banks’ collective loan balances as of end-March, which is more than double the current nonperforming loan (NPL) ratio of 2.1 percent.

It added that 15.3 percent of the total bad loans, or P56.4 billion, is expected to be written off.

The estimation of the impact assumed a 45-day lockdown period in Luzon, the report noted.

The reported amount was based on the data shared by nine out of the country’s top 10 banks, the report said. These major banks comprised approximately 76 percent of the banking system’s assets and loan portfolio as of end-February, which roughly represent the industry as well.

The figure provided is 66 percent of what the Bangko Sentral ng Pilipinas (BSP) estimated to be the full-year amount of NPLs for 2020.

The Central Bank had said earlier that bad loans could reach P556.6 billion this year due to the pandemic, which is equivalent to 5 percent in NPL ratio. Of this amount, 50 percent to 80 percent, or around P278.3 billion to P445.28 billion, would not be recovered.

BAP estimates

MEANWHILE, the latest booked amount for NPLs has already surpassed the estimates of the Bankers Association of the Philippines (BAP).

BAP had earlier noted that bad loans could surge to approximately P240 billion to 300 billion in the coming months, with 50 percent to 80 percent of the amount expected to be written off.

The technical working group said the biggest default is anticipated to come from loans to private corporations. “The anticipated losses, understandably, are expected to increase the longer the economic inactivity or slowdown,” the report reads.

“As it stands and over a reasonable time period, the banking sector is well-positioned to be able to absorb this loss,” it added.

As of end-March, the local banking sector’s capital stood at

By Jovee Marie N. Dela Cruz & Butch Fernandez

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ESPITE a tight schedule before the June 5 adjournment, Congress hopes to endorse for President Duterte’s approval the new version of the Corporate Income Tax and Incentives Reform Act (Citira)—a measure that both economic managers and lawmakers agree will now focus on boosting economic recovery and luring more investments.

House Committee on Ways and Means Chairman Joey Sarte Salceda said at the weekend the new Citira, to be called the proposed Corporate Recovery and Tax Incentives for Enterprises Act (CREATE), is “like a signal for countries seeking refuge from the US-China trade tensions, and from slower-growing economies that the Philippines will provide them economic asylum.”

“The new Citira is expected to pass before June ends, allowing firms to benefit from the CIT [corporate income tax] cut as early as July 2020,” said Salceda.

Finance Secretary Carlos Dominguez III, speaking at a Committee of the Whole hearing last week, had urged senators to pass the measure before adjourning, saying it’s the first major step for getting the Covid-devastated economy back on its feet, as it fasttracks the CIT rate cuts, allows businesses to keep existing incentives longer and draws investors exiting other countries.

Asked for comments on Dominguez’s appeal, senators gave assurances over the weekend that priority will be given to passing the revised Citira before their fast approaching adjournment of sessions.

In a text message to the BusinessMirror, Senate President Vicente Sotto III affirmed they will give it their “best shot,” even as Minority Leader Frank Drilon said the minority bloc will not move to block the Palace-certified bill. However, he added quickly: “we will fiscalize.”

Asked if the Senate can still heed the plea of the Finance chief for lawmakers to pass the Citira before Congress adjourns on June 5, Senate President Pro Tempore Ralph Recto held out hopes this can be granted.

P2.32 trillion, which is 8.3 percent higher than P2.14 trillion year-on-year.

Delays in payment deadline

ONE of the relief measures imposed under the Bayanihan to Heal as One Act is to extend the deadline for loan payments to ease the burden of cashstrapped borrowers.

While this can help the borrowers, the relief measure could trigger NPLs or defaults at worst.

“Given the losses during the ECQ [enhanced community quarantine], as well as subdued demand even post-ECQ, some businesses may not be able to fulfill their loan obligations. Rising unemployment may likewise lead to defaults in consumer loans,” the report said.

Still, RCBC Chief Economist Michael L. Ricafort is optimistic that banks can handle financially the delay in loan payments.

He said that banks have been conducting stress test exercises, as mandated by regulators, even during normal economic conditions, making them prepared for the current pandemic.

“This is on top of the risk management system in place, aligned with global best practices in the management of market risks, liquidity risks, credit risks, operations risks, etc.,” he explained.

“Banks will have to remain resilient and the Central Bank has to be credited in preparing the financial system and implementing the necessary buffers and protocols as a result of previous economic and financial crises,” UnionBank Chief Economist Ruben Carlo O. Asuncion added.

The report noted that the government should also consider extending the validity of BSP memorandum 2020-008, which allows banks to declare provisions for potential credit losses on a staggered basis for a maximum of five years.

Continued on A2

Financial inclusion

MEANWHILE, the report also addressed concern regarding financial inclusion amid the pandemic.

Only 22.6 percent or 22.8 million Filipinos have a bank account, See “Bad Loans,” A2

PESO EXCHANGE RATES n US 50.5820

AS people return to work with the easing of the community quarantine, so does JV Malonzo, who makes a living on his wheelchair selling refreshments and cigarettes in the streets of Binondo, Manila. He said he has not received any financial aid from the government, but is hopeful that this pandemic will soon pass. NONIE REYES

HEALTH workers take a break at a Covid-19 swabbing facility in San Juan City. The city has started mass testing of frontline personnel and residents on April 24, and as of May 23 reported no new coronavirus infection since March 12. NONOY LACZA

n JAPAN 0.4699 n UK 61.8365 n HK 6.5232 n CHINA 7.1076 n SINGAPORE 35.7041 n AUSTRALIA 33.1717 n EU 55.3822 n SAUDI ARABIA 13.4731

Source: BSP (May 22, 2020)

News BusinessMirror

A2 Monday, May 25, 2020

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Miss that haircut, dine-in, movie? Wait for MGCQ tag

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By Samuel P. Medenilla

HAIRCUT, dine-in service and a movie are just among the activities that people who live in areas under modified general community quarantine (MGCQ) can look forward to under the government’s latest guidelines.

In its Resolution 38, Series of 2020, the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) allowed the said activities under its revised Omnibus Guidelines on the Implementation of Community Quarantine in the Philippines.

Among the highlights of the issuance is that it allows the resumption of mass gatherings such as movie screenings, concerts, sports events and other

entertainment activities in MGCQ. However, only 50 percent of the venue or seating capacity of such events will be allowed.

Religious gatherings will also be allowed in MGCQ areas depending on the appropriate IATF guidelines for it.

Barber shops, salons and other personal-care services and dine-in services are also set to make a comeback in MGCQ areas provided such establish-

ments comply with the 50-percent seating capacity rule.

The activities belong to the so-called Category 4 sectors of the IATF, which are banned from operating in areas under enhanced community quarantine (ECQ), modified ECQ (MECQ) and general community quarantine (GCQ).

Other sectors included in the Category 4 industries are gyms and sports facilities; kid amusement; libraries, archives, museums and cultural centers; as well as tourist agencies and tourists destinations.

“Other Category 4 and all other establishments not permitted to operate under previous sections of these guidelines, at a maximum of 50 percent operational capacity,” the IATF said in its Resolution 38.

Currently, there are still no areas in the country under MGCQ. However, this

may change after May 31, 2020, after the IATF reclassifies the community quarantine of an area depending on its number of novel coronavirus disease (Covid-19) cases and medical service capacity.

MGCQs are areas with the most relaxed public movement and activity restrictions among the four classifications of community quarantine.

Areas which are most likely to be placed under MGCQ are those which are already under GCQ.

These include the Cordillera Administrative Region (CAR), provinces of Tarlac and Aurora, as well as Regions 1, 2, 4-A (except Laguna), 4-B, 5, 6, 7 (except the cities of Cebu and Mandaue), 9, 10, 11, 12, 13 and the Bangsamoro Autonomous Region in Muslim Mindanao.

The new resolution was approved

by IATF members last Friday after they conducted their video conference.

Both House, Senate upbeat on ‘CREATE’ bill’s timely okay Continued from A1

“Yes. We will also make improvements,” Recto said on Sunday but did not elaborate.

Sen. Juan Edgardo Angara, former Ways and Means committee chairman, exuded qualified optimism, though.

“It’s possible but it’s also rather tight, given only five session days left before the congressional recess,” he said in a text message.

For his part, Sen. Francis Pangilinan indicated that the minority bloc will not stand in the way of the timely approval of Citira before the upcoming congressional recess from June 6 to July 26.

“We will prioritize the lowering of corporate income taxes under the CREATE bill,” Pangilinan said in a separate text message to the BusinessMirror, referring to the consensus between the economic managers and lawmakers to fast-track the CIT cut to 5 percent— from 30 percent down to 25 percent— on the first year of implementation, instead of just 1 percent.

The Citira, which has two major components—the CIT rate cut and the rationalization of fiscal incentives—was passed by the House of Representatives in September 2019, but was pending in the Senate when the Covid-19 outbreak began and forced a recalibration of its key features. Salceda had said earlier the

revisions crafted by House economists— to include the pandemic factor—will be introduced when the Senate and House meet in bicameral conference once the Senate approves Citira.

In the latest consultations between chambers, however, Salceda hoped there would be little need for convening a bicameral panel.

Pangilinan said that the other part of the CREATE (Citira’s new name) bill that’s also on their priority list is the provision allowing firms to retain incentives amid the economic slowdown.

“Yes. That, too, given the beating these corporations are facing in view of the economic downturn,” Pangilinan stressed.

Extended to June 5

THE Office of the House Secretary General on Sunday announced that the plenary session will be extended until Thursday to tackle the chamber’s priority measures before it adjourns sine die next week, June 5. The CREATE bill is one of the priority measures of the lower chamber.

Moreover, Salceda said 16 senators have already expressed support for the passage of the proposed CREATE. The lawmaker had said no bicameral conference committee meeting is needed if the Senate version of the bill is “fiscally sound.”

Continued on A5

Govt to lose P28B in revenues due to price control on medicines–PHAP

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HE government stands to lose P28 billion in revenues as a result of price controls on medicine earlier recommended by the Department of Health (DOH).

Executive Order (EO) 104 will take effect in June and will slash the prices of medicines from the manufacturers’ level but not all prices will be reduced at the patient level.

The industry projects its sales to drop by P57 billion from P200 billion once the full price-control plan of the DOH is fully implemented, according to a statement at the weekend by the Pharmaceutical and Healthcare Association of the Philippines (PHAP).

Projected government revenue losses are broken down into: P4 billion in foregone customs duties; P7 billion in lost

Bad loans…

VAT; and P17 billion in corporate taxes.

“The EO does not benefit the public in the end because of the formula used to compute the price adjustments. We appeal that the measure be withdrawn until further studies, especially at this time when the government needs funds to fight Covid-19,” said PHAP.

It added, “Price control has not been effective based on global experience. It is a populist proposition but discourages production, creating scarcity that will likely hurt those in need of the medicines the most, and shrinks an industry. We continue to appeal for a thorough review on the impact of this policy.”

Instead, PHAP said the government should continue the practice of buying in bulk and price negotiation to assure both supply and price stability.

Continued from A1

according to the BSP’s Financial Inclusion Survey in 2017.

With increasing demand for online banking and other financial transaction services, the report said the emergence of digital platforms and financial technology could expand access across the country.

BSP Governor Benjamin E. Diokno, in a recent webinar, said the Central

Bank was eyeing to have 70 percent of the Filipino adult population be financially included as it strengthens digital efforts.

“Given the increased demand for online financial services, the relevant infrastructure and regulatory oversight need to be strengthened, including closer monitoring of cybersecurity plans,” the technical working group suggested.

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Sen. Go seeks creation of medical reserve corps

A

S the country’s need for medical personnel grows due to the increasing number of coronavirus disease (Covid-19) cases, Sen. Christopher Lawrence “Bong” Go filed a bill seeking to assemble a group of medical and health-related professionals who will help the government respond to medical and health-care needs during national emergencies.

Senate Bill (SB) 1451, also known as the “Medical Reserve Corps Act of 2020,” seeks to establish a MRC composed of all persons who have degrees in the field of medicine, nursing, medical technology, and other health-related fields but have yet to have their respective licenses to practice for reasons such as, but not limited to, not having taken and/or passed the licensure examinations in their respective professions.

In his explanatory note, Go states that the increasing Covid-19 cases “overwhelmed both private and public hospitals in the country and their medical personnel are strained by the number of Covid-19 patients and Persons Under Investigations in their facilities.”

He adds that “the lack of medical personnel in the midst of pandemic disease hinders the State’s capacity to combat the disease immediately and effectively.”

Invoking the patriotism of Filipino health-care workers, the senator hopes for the bill to uphold the role of medical and health-related personnel in nation-building; promote and protect their physical, moral, spiritual, intellectual, and social well-being; further inculcate in them patriotism and nationalism; and encourage their involvement in public and civic affairs.

If passed into law, the members of the MRC may be called upon and mobilized to assist the national government and the local government units when addressing the medical needs of the public in times of national emergencies.

The mobilization will be initiated by the Secretary of Health, in coordination with the Secretaries of National Defense, Education, and Interior and Local Government.

To maintain and enhance the level of competence and have them ready for mobilization, the bill likewise provides for retraining the members of the Corps.

In case of a declaration of a state of war, state of lawless violence or state of calamity, the Department of Health (DOH) may also recommend to the President the mobilization of the Corps.

The President of the Philippines also has the power to order the mobilization of the Corps to respond to national or local contingencies related to external and territorial defense, internal security and peace and order and/or disaster risk reduction management.

The members of the Corps may be called upon and mobilized to assist the national government, its agencies and instrumentalities, and the local government units in their functions related to addressing the medical needs of the public through

requests for deployment by the heads of such national government agencies or local government units submitted to the DOH. In case of mobilization, the equipment of the Corps will be supplied in close coordination with the DOH and other national agencies and offices, with the end in view of achieving rapid mobilization. There will also be established mobilization centers in each province and city as many as needed according to the number and geographical distribution of the Corps, where they will report in case of deployment.

Meanwhile, the DOH will be tasked to regularly publish an annual report containing a list of its accomplishments, status of its operations, number and demography of the MRC, assessment of readiness for mobilization and the incidence and details of each mobilization for the year concerned.

As for members of the Corps already employed upon deployment, such deployment will not be a ground for dismissal or diminution of any benefit enjoyed by such graduates prior to their deployment. The members of the Corps will also be entitled to their regular wage or salary during the period of their deployment, should they be employed at the time of deployment.

Under the proposed measure, a MRC fund will also be established exclusively for the implementation of the objectives and purposes of the bill. The Office of the President will be tasked to monitor and evaluate the activities and the balances of the Fund.

The senator then mentioned that the proposed measure will complement the Balik Probinsya, Bagong Pag-asa (BP2) program of the government as the proposed MRC will be designed to become responsive to the needs of all Filipinos, wherever in the country they may be.

“This measure seeks to help local government units all over the country in need of assistance. Kaya naman po the bill proposes for the creation of mobilization centers in each province and city as many as needed based on the number and geographical distribution of the Corps, where they will report in case of deployment,” he said.

Emphasizing the need for the military and health sector to collaborate in times of global pandemics, Go said, “Sa mga large-scale health emergencies gaya ng Covid-19, malaking bagay po na magtulungan ang military at health sector upang mas maging epektibo ang ating efforts para makapagserbisyo sa ating mga kababayan.

[In large-scale health emergencies such as the Covid-19, it is imperative that the military and health sector work together to make our efforts more effective in serving our people.]

“Bibigyan din po nito ng oportunidad ang mga Pilipino, lalo na ang ating mga health-care professionals, na magserbisyo sa kanilang kapwa Pilipino at makapagsilbi sa kanilang bayan,” [It will also provide opportunities for Filipinos, especially our health-care professionals, to serve their fellow Filipinos and serve their people],” he said.

DOT issues ‘new normal’ Covid-19 rules for hotels ...

continued from a12

Ibarreta said, “We clarified this rule especially since we have member-resorts which offer family rooms. There are families who live together under one roof and want to stay in only one room.”

She added that the DOT also promised to review the rules covering recreational areas, like gyms and swimming pools, which allows hotels to open them. But she noted, “We are not allowed to accept leisure guests for now.”

Hotels will also provide each guest with a “sanitation kit…which may include alcohol or alcohol-based sanitizers, disinfectant sprays, face masks, disposable gloves and rags.” A separate trash bin for the disposable PPEs shall be provided each room. Turndown service is also highly discouraged.

The DOT requires each room to be thoroughly disinfected using bleach solution before a new guest occupies it. Hotels are highly encouraged to use “enhanced technologies, such as electrostatic sprayers with hospital-grade disinfectants, HEPA filter, or germicidal UV lighting system, at least once every two weeks.” DOT also “highly discourages” minibars and other compli-

mentary in-room F&B except bottled water.

All public spaces (e.g., lobby, restrooms, halls, corridors, elevators) must be cleaned and thoroughly disinfected regularly with special attention to frequently touched points such as elevator buttons, handles, hand rails, switches, door knobs, kitchen surfaces, etc.

For elevators, physical distancing must be strictly followed such that “only 50 percent of the maximum capacity is recommended to avoid physical contact.” There should be an adequate supply of soaps, alcohol-based hand sanitizers, toilet paper and paper towels in all restrooms.

For hotel transport services, the DOT requires capacity to be “reduced by 50 percent or one seat apart,” and for cars or sedans, there should be no passenger beside the driver. All vehicles must be thoroughly disinfected after each use. Drivers are also required to wear face masks, gloves and other applicable PPE. Prior to the DOT rules, some hotels had already opted to adopt their own health and physical distancing protocols to protect their guests and employees.

Editor: Vittorio V. Vitug • Monday, May 25, 2020 A3

Navy’s first missile-capable frigate arrives at Subic Bay

By Rene Acosta

T

@reneacostaBM

HE first missile-capable frigate of the Philippine Navy arrived at Subic Bay on Saturday after a five-day voyage from the shipyard of its manufacturer in Ulsan, South Korea.

The first brand-new warship of the Navy, which will be christened into the military service as “BRP Jose Rizal,” will remain in the waters of Zambales while its sailors will undergo the mandatory 14-day quarantine for the Covid-19.

The vessel (FF 150), the first of the two ordered frigates from South Korea to be delivered, exchanged communications signals with the BRP Quezon in Mavulis Island, Batanes, as it entered Philippine waters on the early morning of Thursday.

Navy public affairs office chief Lt. Commander Maria Christina Roxas said the Naval Forces Northern Luzon welcomed FF 150 on Friday by rendering a meeting procedure with its first patrol boat division composed of three patrol boats at the vicinity of Bolinao, Pangasinan.

Later in the afternoon, the BRP Andres Bonifacio (PS 17) with one AugustaWestland (AW)

109 helicopter and C-90 fixed wing aircraft conducted a meeting procedure with FF 150 along the vicinity of Santa Cruz, Zambales.

The frigate was later escorted by PS 17 to its designated anchorage area.

On Saturday, the frigate was accorded with the traditional passing honors with PS 17 and three multipurpose assault crafts (MPACs). The event was captured during the fly-by of two naval helicopters, the anti-submarine helicopter AW-159 and AW-109.

The commander of the Navy’s Offshore Combat Force, Commodore Karl A. Decapia, led officials in welcoming the arrival of FF 150.

Decapia said the arrival of the frigate “signals the realization of a modern navy that is capable of imposing the Navy’s territorial defense mandate,” as the warship is capable of fighting the four dimensions of warfare.

Rear Ad mira l L oumer P. Ber nabe, commander of the Philippine Fleet, in a separate statement, greeted the officers and men of FF 150 and the support team from Republic of Korea. The South Korean Navy escorted the frigate when it left the waters in Ulsan.

“We are one with the Filipino people in ex-

pressing our profound gratitude in bringing pride and honor to the Philippine Navy and the AFP,” Bernabe said.

“Our countrymen expect nothing less than the selfless and honorable service that we in the Fleet have sworn to uphold and protect,” he added. “I enjoin everyone to sustain the momentum that you have gained and continue to aspire for competence and excellence.”

Roxas said the technical inspection and acceptance of the frigate, the last phase for the official receipt of the warship, will start after the end of its crews’ mandatory quarantine.

“A simple arrival and commissioning ceremony is poised to be conducted on June 19 coinciding with the birth anniversary of Dr. Jose Rizal, the ship’s namesake,” Roxas said.

“The arrival of FF 150 in the country is yet another major leap toward the fulfillment of the PN’s thrust of having modern platforms and systems which provide opportunities for its personnel to develop modern mindsets and propel the whole organization into becoming a multi-capable naval force responsive to our maritime nation’s defense and development,” he added.

News

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A4 Monday, May 25, 2020

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SoKor’s help sought for Covid-19 test kits; lawmaker seeks lower prices

By Elijah Felice E. Rosales @alyasjah

& Jovee Marie N. Dela Cruz @joveemarie

T

HE Philippines could soon be getting its own production of rapid test kits as a lawmaker asked the national government to regulate the cost of Covid-19 testing in all hospitals and laboratories in the country.

In an interview with reporters last week, Trade Undersecretary Ceferino S. Rodolfo disclosed he will be traveling to South Korea in June to talk to two possible investors interested in putting up shop in the Philippines. These investors are engaged in the production of test kits for the coronavirus disease 2019 (Covid-19) infection.

Rodolfo said he was invited by his

South Korean investment counterparts to Seoul for the continuation of free trade agreement (FTA) talks, as well as discussion on possible investment on the manufacture of rapid test kits.

According to Rodolfo, he and representatives from the Department of Health (DOH) and Department of Science and Technology (DOST) would be in Korea on June 2 to June 4 “partly to talk about the FTA.” “Second, we are looking at possible investors for test kits,” he added.

“With this invitation, I’m confident that we will be able to get at least one rapid test kit manufacturer from South Korea.”

The Philippines is struggling to carry out mass testing due to the lack of kits that can be used to assess infection. Most of the country’s test kits are either purchased or donated, and they all come from abroad on lack of manufacturing capacity for the medical tool.

Expensive

ASKED why only rapid test kits and not the polymerase-chain reaction (PCR) test kits which are way accurate, Rodolfo explained that it is difficult to find an investor for the latter because the laboratory and equipment it requires are costlier to set up and purchase.

“We are looking for investors of both test kits,” the investment official said. “It’s just that it’s easier to find one for rapid test kits, while PCR

test kits are harder to make because they need laboratory.”

The move to get a South Korean test kit maker in the Philippines would also boost the country’s attractiveness to foreign investors, many of whom are packing up operations in China and are planning to relocate in Southeast Asia.

“There is really a push to move facilities out of China. If you are talking about Koreans, they are bigger than Japanese when it comes to investments in China. Their investments are quite close; but Korea has more than Japan. Aside from China, South Korea’s secondbiggest investment is in Vietnam, but Vietnam is already flooded so they are looking at the Philippines,” Rodolfo said.

“We have a lot of competitors now, but our relationship with South Korea is doing good, so the ‘come on’ is to go there and finish the FTA,” he concluded.

Costs

MEANWHILE, Bagong Henerasyon Rep. Bernadette Herrera-Dy voiced concern on reports that some hospitals and laboratories are charging as high as P8,150 for a single test.

Herrera-Dy said there has to be transparency into the cost of Covid-19 testing to protect the public against price gouging and ensure its affordability.

“Amid the urgent need for mass testing to contain the spread of Covid-19, it is important for the government to make sure that the

test kits and processing fees are being reasonably priced to give access to those not eligible for free testing,” she said in a statement issued last Sunday.

According to Herrera-Dy, even the Philippine Health Insurance Corp. (PhilHealth) is offering a Covid-19 testing package in that amount, more than double the P3,500 that the Philippine Red Cross charges for its real-time reverse-transcription PCR test.

The lawmaker said the P8,150 fee is “way too expensive and overpriced” considering that a test kit, particularly the locally developed GenAmplify, costs only P1,320 and laboratory fees are pegged at around P2,000.

Health Secretar y Francisco Duque III revealed during a recent hearing in the Senate that Covid-19 testing ranges from P2,710 to P8,150 per test depending on regardless whether the kit used was donated or not.

Herrera-Dy believes Covid-19 testing should be “uniform across the board and affordable” to make it accessible to all.

Regulation

ACCORDING to Herrera-Dy, regulating the cost of Covid-19 testing falls within the ambit of Republic Act 11469 that grants President Duterte the power to adopt measures to respond to the crisis brought about by the pandemic.

Among others, the law authorizes the President to expedite and

streamline accreditation of testing kits and facilitate prompt testing, and prioritize allocation and distribution of medical supplies to coronavirus-referral hospitals and health facilities that have the capacities to test and care for suspected and confirmed Covid-19 patients.

Herrera-Dy, one of the proponents of RA 11469 in Congress, said the law likewise authorizes the President to “enforce measures to protect people from hoarding, profiteering, injurious speculations, manipulation of prices, product deceptions, and cartels.”

The lawmaker insisted that effective, widespread testing is crucial to controlling the spread of the new coronavirus, which has so far infected over 13,000 people locally and killed more than 800.

Iloilo Rep. and former Health Secretary Janette L. Garin already pushed for the passage of House Bill 6707 or an act encouraging a baseline PCR testing for Covid-19 among vulnerable members of the society.

In her proposal, Garin said the testing shall not exceed the amount of P1,700 for the government institution and P1,800 for private institution per asymptomatic vulnerable person tested.

L a st week , Ma r i k i n a R ep.

Stella Luz A. Quimbo reminded the Department of Health that mass testing is a key to effective reopening of the economy, which is losing P18 billion each day due to lockdown.

Dangerous weekend for OFWs, DFA field staff in Hong Kong and Libya. . . continued from a12 The embassy had earlier raised its concern over the possibility that Filipinos may end up as collat-

eral damage after several hospitals in Tripoli were struck by artillery shells.

Hong Kong face-off

MEANWHILE, the Consulate’s advice for OFWs in Hong Kong was timely as most of the some 130,000 Filipino workers there take their dayoff on Sunday.

Hong Kong police fired multiple rounds of tear gas in the Causeway Bay shopping district on Sunday as hundreds of people took to the streets to protest Beijing’s planned national security law for the city, denouncing the proposed legislation as a threat to civil liberties and the end of the “one country, two systems” principle.

The South China Morning Post said tear gas was first fired near the junction of Hennessy Road and Percival Street at 1:24 p.m.

“People Power activist Tam Takchi was arrested only minutes earlier while conducting what he called a

‘health talk’ outside the Sogo department store in Causeway Bay on Sunday, saying such talks were exempt from Covid-19 rules banning gatherings of more than eight people,” one report said.

Before the pandemic, Causeway Bay was one of Hong Kong Island’s main shopping districts. It is dotted with multistory buildings housing name brand products, restaurants, electronic shops, clothing and consumer products that attract tourists from across the globe.

During the last two years, however, Hong Kong has been wracked by violent protests from mainly student demonstrators complaining of pressure from Beijing to adopt a law that would allow the repatriation of those charged with criminal offenses to be thrown back to the mainland.

Students and some longtime residents maintain that Hong Kong retains a semblance of autonomy following the handover from Britain in 1997, under the “one country, two system principle.”

During the past two years, however, the Special Administrative Region residents flooded the city’s streets, stormed its legislature and clashed with police amid flames and clouds of tear gas. They stared down local leaders, who they said were doing the bidding of Beijing, and ultimately the government relented.

Hong Kong’s pro - democracy opposition movement, however, is now confronting the possibilit y of Beijing imposing its will by all means, regardless of international opinion.

The Chinese gover nment ’s plan, unveiled on T hu rsd ay, would have Beijing take a stronger, more direct hand in Hon g K on g ’s affairs.

The Chinese Communist Pa r t y, wh ic h held its two sessions this week, hammered a National Security Law described as brook ing no dissent and fiercely resistant to compromise, catching pro-democracy protesters by surprise.

Agriculture/Commodities BusinessMirror

www.businessmirror.com.ph

Editor: Jennifer A. Ng • Monday, May 25, 2020 A5

Pandemic fallout hits local agri firms, planters

A

By Jasper Emmanuel Y. Arcalas

@jearcalas

GRICULTURE-RELATED businesses and farmers incurred losses amounting to at least P94.3 million, as they were unable to sell their produce during the enhanced community quarantine (ECQ) period in Luzon, according to a government study.

The We Heal as One report, released

recently by the National Economic and Development Authority (Neda), showed the impact of ECQ on agriculture and other economic sectors.

The report was prepared by the Inter-Agency Task Force for the Management of Emerging Infectious Diseases-Technical Working Group for Anticipatory and Forward Planning (IATF–TWG for AFP).

The report contained the findings of a survey conducted by Neda in April where about 6,863 participated for the business rapid assessment survey for the agriculture and fisheries sector.

The report showed that Calabarzon accounted for the biggest chunk of the

losses in the farm sector at P26.33 million, followed by Central Luzon with P24.84 million.

The report indicated that the highvalue crops (HVC) sector bore the brunt of the pandemic with losses reaching P36.82 million, followed by livestock raisers with P24.482 million. ”For cereals, the aggregated loss is P24.22 million or 25.7 percent of the losses, almost half [48 percent] of which came from Central Luzon,” the report read. The fisheries sector incurred losses amounting to P8.78 million for their unsold catch, according to the 76-page report.

The Neda’s survey showed that only 65 percent of the respondents, or about

6 in 10 farm producers and businesses, said they were able to sell their produce during the ECQ, according to the report.

“The disruption in agricultural and subsequent trading activities can be traced to additional ECQ rules being imposed by some LGUs which are, oftentimes, even more stringent than the rules set by the IATF-EID [IATF-Emerging Infectious Diseases],” the report read.

“A large percentage of respondents [86 percent] were still able to continue their agricultural activities. The remaining 14 percent whose activities were disrupted during the ECQ is equivalent to 1,169 hectares that were not planted,” it added.

The report showed that majority, or

about 66 percent, of respondents for the agricultural survey were male and about 39 percent were aged 51 to 65 years old.

Around 20 percent of the total respondents are from Western Visayas, followed by Central Luzon (18 percent), and Calabarzon (12 percent), according to the report.

Respondents from other regions of Luzon, Visayas, and Mindanao made up 19 percent, 12 percent, and 19 percent of the total, respectively.

“More than half [52 percent] of these respondents were engaged in high-value crops farming, while the rest were into rice farming [26 percent], livestock and poultry raising [12 percent], corn farming [6 percent] and fisheries [5 percent],” it read.

PHL expands cassava, onion production in January-March T HE country’s cassava output in the first quarter rebounded and recorded a year-onyear increase of 0.26 percent, the latest data from the Philippine Statistics Authority (PSA) showed.

PSA data obtained by the BusinessMirror indicated that cassava output in the January-to-March period rose to 515,455.56 metric tons, from last year’s 514,227.73 MT. Output in the first quarter of 2019 contracted by 5.6 percent year-on-year, from 544,753.24 MT recorded in 2018.

Figures from the PSA also showed that sweet potato production grew by 3.76 percent to 116,520.11 MT, from 112,294.92 MT last year while ampalaya output rose 4.52 percent year-onyear to 32,323.34 MT. Onion production during the period expanded by 7.33 percent

Caraga, Cotabato planters get aid from govt

By Manuel T. Cayon

@awimailbox Mindanao Bureau Chief

D

AVAO CITY—The Department of Agriculture (DA) has allocated P62.5 million as recovery and credit assistance for farmers and proprietors of micro-enterprises who were affected by quarantine restrictions in the Caraga region in northeastern Mindanao.

The fund is under the DA’s Ahon Lahat Pagkaing Sapat (Alpas) Kontra sa Covid-19 or the expanded SURE Aid and Recovery Project (SURE Covid-19).

Eligible farmers and fishermen may borrow up to P25,000 interest-free, no collateral and payable in 10 years. “ The fund would help our farmers and fisherfolk recover from their

losses during this quarantine period,” said DA-Caraga Regional Director Abel James I. Monteagudo.

Monteagudo said available loanable fund for the region could cater to 2,500 farmers and fishermen. The DA said the funds may be available by the end of the month.

Eligible micro and small-scale entrepreneurs may avail of up to P10 million, zero interest, and payable in five years. These enterprises may be a single proprietorship, partnership, corporation, cooperative, or association.

He said the DA would prioritize the small businesses that supply the Kadiwa ni Ani at Kita outlets, or those that participate in the Kadiwa on Wheels. The Kadiwa rolling stores serve selected barangays in different municipalities and cities in the region.

The Kadiwa on Wheels is a DA-initiated marketing strategy where micro and small enterprises, farmers’ and fishermen’s groups sell their produce directly to the consumers at reasonable prices.

Meanwhile, the DA in Region 12 said last week it released production loans worth P6.2 million to 248 farmer-borrowers in Kidapawan City, North Cotabato.

Regional Director Arlan Mangelen said each farmer-borrower received P25,000 from the DA’s expanded SURE Aid and Recovery Project in separate programs held in Barangay Balabag on May 13 for 121 farmerborrowers and in Barangay Perez on May 14 for 127 farmer-borrowers.

He reminded them to use the money in sustaining their livelihood activities or in starting a farming and fishing venture anew.

Both House, Senate upbeat on ‘CREATE’ bill’s timely okay . . .

Also, Salceda said the proposed CREATE will now include key recommendations made

by House members during conversations with the economic managers and in hearings of the Defeat Covid-19 Committee.

He said House members secured “commitments from the economic managers about amendments to lower corporate income tax, provide tax relief for small and medium enterprises that are incurring losses, and allow the country to compete for very attractive investments.”

Salceda credited “the efforts of the Speaker and the Majority Leader to be very proactive” for this development. “Remember, we were already holding consultations even before any recovery plan was in place.

Speaker Alan [Peter Cayetano] and Majority Leader Martin [Romualdez] were very wise to assign us our duties in the House very early.

It allowed us to act very swiftly and get the points of the House across effectively.”

Opportunity cost

SALCEDA also explained that the amendments should once and for all end the “opportunity costs of being on the fence with Citira.”

“I’m an economist. I think in terms of opportunity costs. The House approved this in 2019. If we enacted it before that

year ended, I estimate that we would have had a jobs cushion of between $5 billion and $12 billion in new investments. That’s what used to rile me up about those who delay the passage. They think in terms of what it will cost them in accounting costs —and I dared them to show me, because I don’t believe there would have been losses for most firms—but not in terms of the lost opportunities to do business with new investors in the country,” Salceda said.

“Anything that adds new business to the Philippines while preserving the existing economic base is a net benefit to the people.

This bill definitely does it. Anything that delays that also delays the benefit. New potential investors do not have all the time in the world to wait for us to pass this reform, especially those in search of new homes. We should act at once. That’s why the House will adopt the Senate version if it is fiscally sensible” Salceda added.

The new proposal will now reduce corporate income taxes faster, from 1 percent every year to 5 percent immediately on the first year, and then 1 percent until it reaches 20 percent.

It will also be providing a net operating loss carry over (Nolco) benefit that is available to 99 percent of corporate taxpayers.

“Essentially, non-large taxpayers will

continued from a2

be allowed to carry-over period their net losses in 2020 for two more years. That’s very useful for those who were not able to anticipate the size of losses they would incur this year, and it’s also an incentive to survive basically, because you have to keep operating for the whole validity of the Nolco benefit,” Salceda added.

Also, Salceda said the sunset period for activities currently receiving incentives is now also extended, from the previous two to five years, to four to seven years.

The Fiscal Incentives Review Board (FIRB), whose functions will be expanded under the bill, will also have the power to recommend the grant of longer tax incentives and non-fiscal incentives to deserving companies.

“A powerful amendment is the ability of the FIRB to mix and match suitable fiscal and non-fiscal incentives for deserving investments. The House version first came up with that idea of a mix-andmatch type of fiscal incentives system in the original Citira, but under the new version, this power is more pronounced, since the FIRB can now also recommend the grant of non-fiscal incentives. It doesn’t get much attention, so I advise the economic team to drum it up more and show examples of which firms would qualify,” said Salceda.

to 163,664.67 MT, from 152,483.34 MT, while mongo output rose by 6.04 percent to 8,629.99 MT, according to PSA data.

However, preliminary PSA data showed that potato output during the three-month period fell by 2.47 percent to 23,131.19 MT, from 23,716.57 MT. Eggplant production shrank by 6.36 percent to 75,400.92, from 80,524.99 MT, while tomato output declined by 1.13 percent to 94,215.35 MT, from 95,295.61 MT, PSA data showed.

The production of other vegetables and root crops, which include pechay, cau l if lower and gabi, g rew sl ight ly

to 381,318.38 MT, from last year’s 379,264.55 MT, PSA data showed.

PSA data also indicated that production of calamansi in the first quarter fell by nearly 11 percent year-on-year to 13,311.30 MT while mango output declined slightly to 94,068.98 MT, from 94,916.02 MT recorded in 2019.

Pineapple production during the threemonth period also fell by 0.76 percent to 76,663.17 MT, from last year’s 77,250.78 MT. Local watermelon output in the first quarter expanded by 7.44 percent to 70,123.53 MT, from the 2019 record of 65,269.05 MT, PSA data showed. Jasper Emmanuel Y. Arcalas

A6

The W

Business

Monday, May 25, 2020

Fate of global economy rests more than ever on vaccine or treatment A s sections of the global economy tiptoe toward reopening, it’s becoming clearer that a full recovery from the worst slump since the 1930s will be impossible until a vaccine or treatment is found for the deadly coronavirus.

Consumers will stay on edge and companies will be held back as temperature checks and distancing rules are set to remain in workplaces, restaurants, schools, airports, sports stadiums and more.

China—the first major economy consumed by the virus and the first to emerge on the other side—has been able to revive production but not demand. The lesson for other economies: it’ll be a stop-start path back toward normal.

There’s also the risk of new flareups. Some 108 million people in China’s northeast region have been put back under varying degrees of lockdown amid a new cluster of infections. Doctors there are also seeing the coronavirus manifest differently, suggesting that it may be changing in unknown ways.

In South Korea—where the virus was controlled without a hard lockdown— consumer spending remains weak as infections continue to pop up.

Sweden’s highly contested response left much of the economy open, yet the country is still headed for its worst recession since World War II. That means global policy-makers— who have already announced trillions of dollars of fiscal and monetary support— will need to keep the stimulus flowing to avoid yet more company failures and job losses. Federal Reserve Chairman Jerome Powell has warned that a

full recovery will need to wait until the scientists deliver, a warning echoed by his Australian counterpart.

“If we don’t get breakthroughs on the medical front, then I think it’s going to be quite a slow recovery,” Australia’s central bank chief, Philip Lowe, said this week. “We’ve got a lot resting on the shoulders of the scientists here.”

Harvard University professor Carmen Reinhart, who is the incoming chief economist of the World Bank, had a similar message. “We’re not going to have something akin to full normalization unless we (a) have a vaccine and (b)—and this is a big if—that vaccine is accessible to the global population at large,” she told the Harvard Gazette.

With global infections topping 5 million and a death toll of over 330,000, there’s an air of desperation for good news on either a vaccine or effective anti-viral.

Shares in Cambridge, Massachusettsbased Moderna Inc. hit a record on Monday on early data from a small trial of the company’s coronavirus vaccine. It gave up some of those gains in later days as investors weighed the early nature of the vaccine data.

A survey of money managers by Bank of America Corp. found the biggest tail risk is a second wave of the virus that means restrictions will have to be imposed again. Only 10 percent expect a rapid rebound, the bank said in a note

titled “V is for Vaccine.”

The race for a cure has a geopolitical edge too. US President Donald Trump has vowed a Manhattan Project-style effort dubbed “Operation Warp Speed” to develop a cure, while China’s President Xi Jinping has pledged to make one universally available once it’s developed.

The fusion of when successful drugs can be found and when economies can get back to normal is dominating sentiment in financial markets.

“There is a global bounty on the virus,” said Stephen Jen, who runs hedge fund and advisory firm Eurizon SLJ Capital in London. “I don’t see how it is wiser for investors to bet on the virus than to bet on science, technology, and unlimited political and financial capital in the world to contain and defeat the virus.”

Health experts caution that the process for developing an effective immunity will take time—possibly years. And even then it will need distribution on an unprecedented scale, according to Anita Zaidi, Director of Vaccine Development and Surveillance at the Bill & Melinda Gates Foundation.

“I am optimistic we can develop a vaccine by the end of 2020,” she said during a discussion hosted by Bloomberg New Economy. “I am not very hopeful that we can deploy a vaccine for mass use by the end of 2020 because of the unprecedented scale needed to immunize the whole world.”

Deutsche Bank AG economists are working on the basis that a vaccine or a cure won’t be widely available for the next year and a half.

In the meantime, the cogs of global commerce are in limbo. The International Monetary Fund has warned the “Great Lockdown” recession would be the steepest in almost a century. More than 1 billion workers are at high risk of a pay cut or losing their job, the International Labor Organization warned in April. World merchandise trade volume

is likely to fall “precipitously” in the first half of 2020, according to the World Trade Organization.

Critically, consumer confidence is shattered. One example: UK retail sales dropped by almost a fifth in April.

Bloomberg Economics estimates the lockdowns triggered a drop in activity of around 30 percent and their research found that the first steps to relax controls will have a more positive impact on activity than later ones.

Central bank chiefs, who have had to resort to considering scenarios instead of hard forecasts, are staying in crisis mode.

Powell has pledged to keep using the Fed’s tools. The Bank of Japan, in an emergency meeting on Friday, launched a new lending program worth ¥30 trillion ($279 billion) to support small businesses as a key inflation gauge slid below zero in April for the first time in more than three years. India’s central bank cut interest rates in an unscheduled announcement on Friday to their lowest since 2000.

While the world waits for a vaccine, workers employed in areas like tourism will need to be reskilled and shifted to where there’s demand, a process that will take time, said Shaun Roache, Asia-Pacific chief economist at S&P Global Ratings.

“Without a medical solution, either a vaccine or effective therapy, persistent behavior change would lead to large structural shifts in the economy,” he said.

Big employers are already adapting to the new, new normal. Facebook Inc. plans to hire more remote workers in areas where the company doesn’t have an office, and let some current employees work from home permanently.

JPMorgan Chase & Co. expects to keep its offices half full at the most for the “foreseeable future.”

The circuit breaker to all of this would be a scientific breakthrough, said Torsten Slok, Deutsche Bank Securities Chief Economist.

“A vaccine would change everything,” he said. Bloomberg News

Kim seen bolstering N. Korea nuke forces S

EOUL, South Korea — North Korea's leader Kim Jong Un convened a key military meeting to discuss bolstering its nuclear arsenal and putting the country’s strategic armed forces on a high alert, state media reported on Sunday, in his first known public appearance in about 20 days.

In early May, Kim quelled intense rumors about his health by attending a ceremony marking the completion of a fertilizer factory in his first public activities in 20 days. But he hadn't again made any follow-up public appearance in about another 20 days until the state news agency said on Sunday that he led a meeting of the Central Military Commission of the ruling Workers’ Party.

“Set forth at the meeting were new policies for further increasing the nuclear war deterrence of the country and putting the strategic armed forces on a high alert operation,” the Korean Central News Agency said, without saying exactly when the meeting was held.

The meeting also discussed increasing the capabilities for deterring “the threatening for-

eign forces,” it said.

It was held amid a prolonged deadlock in negotiations with the United States over the North's nuclear program. The two countries’ diplomacy faltered when a second summit between Kim and President Donald Trump in February 2019 ended without any agreement due to disputes over US-led sanctions on North Korea.

Frustrated over the lack of progress, Kim later said he would unveil “a new strategic weapon” and would no longer be bound by a self-imposed moratorium on nuclear and long-range missile tests. Kim hasn't still followed through with those threats though he conducted a slew of short-range missile tests.

On Sunday, the North's main Rodong Sinmun newspaper released photos showing Kim clad in his trademark dark Mao suit and delivering a speech, writing down on a document and pointing his stick at a board on the podium. Elderly military generals wearing olive green uniforms were seen taking notes when Kim, 36, spoke — something that's typical in North Korean state media-distributed photos.

In this undated photo provided on Sunday, May 24, 2020, by the North Korean government, North Korean leader Kim Jong Un speaks during a meeting of the Seventh Central Military Commission of the Workers‘ Party of Korea in North Korea. Independent journalists were not given access to cover the event depicted in this image distributed by the North Korean government. The content of this image is as provided and cannot be independently verified. Korean Central News Agency/Korea News Service via AP

Despite lingering rumors about Kim’s health, South Korean officials said he didn't undergo surgery or any other medical procedure.

South Korea’s spy agency recently told lawmakers that it believes the coronavirus pandemic

had led Kim to avoid public activities, saying he appeared in public 17 times this year, compared with an average of 50 appearances in the same time period each year since he took power in late 2011. AP

Politicians from 23 nations condemn China’s HK plan

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lmost 200 politicians and legislators from 23 countries issued a joint statement criticizing China’s plans to impose a sweeping national security law in Hong Kong, and warned that it could spark more protests in the city, Radio and Television Hong Kong reported.

Signatories included Hong Kong’s last colonial governor, Chris Patten, and former British foreign secretary Malcolm Rifkind, as well as five US senators, and lawmakers from Europe, India, Indonesia, Malaysia, Myanmar, New Zealand, Canada and Australia, according to the report.

China said it will introduce a law to prevent and punish any acts of secession, subversion or terrorism in the city that threaten national security. Pro-democracy activists say the move endangers the future of “one country, two systems,” the principle by which the Asian financial

hub is overseen by Beijing.

Hong Kong Chief Executive Carrie Lam said the city would cooperate fully with China to enact the legislation. Her comments are likely to anger demonstrators and fuel protests that have resurged in recent weeks following months of disruption leveled by the coronavirus. Demonstrations were already planned against Beijingbacked legislation, including a bill that would criminalize disrespecting China’s national anthem, on Sunday and Wednesday.

Senior Hong Kong officials defended China’s plan to enact the law, with Financial Secretary Paul Chan saying it will help quell ongoing political unrest in the city, the main threat to confidence in the financial sector.

“The freedom and rights enjoyed by the general public according to law are not inter-

fered with, daily life will not be affected, and property security will continue to be effectively guaranteed,” Chan wrote in a Chinese-language post on his official web site.

In a separate post, Chief Secretary for Administration Matthew Cheung said on his website that the new legislation does not affect the principle of one country, two systems, in place since the 1997 handover. The city must ensure that the business investment environment is stable, Cheung wrote in the Chinese-language blog. “Social turmoil is the enemy of peace and happiness and investors,” he said.

The new security legislation won’t be used to whisk people over the border to China, Maria Tam, vice chairwoman of the Chinese parliamentary committee that oversees Hong Kong’s law, said in an interview. Tam acknowledged that some

details of the sweeping legislation expected to soon be passed by the National People’s Congress had yet to be decided.

“The Hong Kong opposition has always reaped the benefit of striking fear in the minds of the Hong Kong people and asking them not to trust China,” Tam said by phone. “And so this is political capital, and I would be surprised if they don’t cash in on it. But I don’t think it’s going to happen that way.”

Officers will be deployed around Hong Kong on Sunday at locations where unauthorized marches are due to take place and will arrest demonstrators if necessary, according to a post on the police Facebook page.

The police urged residents not to take part in gatherings that are not approved, according to the post. Bloomberg News

World

sMirror

Covid-19 patients not infectious after 11 days– Singapore study

Editor: Angel R. Calso

Time running out on the last US-Russia nuclear arms pact

C

ovid-19 patients are no longer infectious after 11 days of getting sick even though some may still test positive, according to a new study by infectious disease experts in Singapore.

A positive test “does not equate to infectiousness or viable virus,” a joint research paper by Singapore’s National Centre for Infectious Diseases and the Academy of Medicine Singapore said.

The virus “could not be isolated or cultured after day 11 of illness.”

The paper was based on a study of 73 patients in the city-state.

The latest findings may have implications on the country’s patient discharge policy. The discharge criterion is currently based on negative test results rather than infectiousness.

Singapore’s strategy on managing Covid-19 patients is guided by the latest local and international clinical scientific evidence, and the Ministry of Health will evaluate if the latest evidence can be incorporated into its patient clinical management plan, according to a report by the Straits Times.

So far, 13,882, or about 45 percent of the total 31,068 Covid-19 patients in Singapore have been discharged from hospitals and community facilities. Singapore reported 642 new Covid-19 cases as of noon on Saturday.

The government has been actively screening pre-school staff as it prepares to reopen preschools from June 2. On Friday, two pre-school employees tested positive for the novel coronavirus, bringing the total number of confirmed cases among pre-school staff to seven, according to the Ministry of Health. Bloomberg News

A7

In this June 28, 2019 file photo, President Donald Trump (right) meets with Russian President Vladimir Putin during a bilateral meeting on the sidelines of the G-20 summit in Osaka, Japan. If Trump doesn't extend the New Strategic Arms Reduction Treaty, the only remaining US-Russia arms control pact, or succeed in negotiating a replacement treaty, it will expire on February 5, 2021.

AP Photo/Susan Walsh

W

ASHINGTON—Time is running out on an arms control treaty that, if it’s allowed to expire, will leave the world with no legal restrictions on US and Russian nuclear weapons for the first time in nearly half a century.

If President Donald Trump doesn’t extend the New Strategic Arms Reduction Treaty—the only remaining US-Russia arms control pact—or succeed in negotiating a replacement treaty, it will expire on February 5. That's just 16 days after Trump begins a second term or his successor is sworn into office.

Russia has offered to extend New START for up to five years, but Trump is holding out. He thinks China, which is expected to double its

stockpile of nuclear weapons in the next decade, should have to sign on to a nuclear arms control accord, too.

The future of New START was further called into question with Trump’s announcement on Thursday that the US intends to withdraw from another treaty that permits observation flights over the US, Russia and more than 30 other nations. Trump voiced his desire for a three-way arms control agreement months ago, but that effort is still in the starting blocks.

Marshall Billingslea, who was appointed last month as the president’s special envoy for arms control, said on Thursday that he had his first secure phone call with his counterpart in Moscow, Russian Deputy Foreign Minister Sergei

Ryabkov. Billingslea said they agreed to meet, talk about their objectives and find a way to begin negotiations.

“Suffice to say, this won’t be easy. It is new,” Billingslea said, adding that the US fully expects Russia to help bring China to the table.

Russian officials and many arms control experts agree that China, as a rising power, should be part of a nuclear arms accord, but they are eyeing the calendar.

“It’s really hard to see how, in the midst of a pandemic that would make actual in-person negotiations quite difficult, you’re going to get something done and ratified and in force before the New START treaty expires on February 5, 2021,” said Alexandra Bell at the Center for Arms Control and Non-proliferation.

They note how Trump's reelection campaign, the coronavirus pandemic and the economic problems it has created are consuming a lot of time. Negotiating complex nuclear accords can take years, and even the president, who has blamed Beijing for not stopping the spread of the virus, has said he doesn't want to talk to President Xi Jinping right now.

A spokesman for the Chinese Foreign Ministry, Geng Shuang, said in January that China has "no intention to participate" in trilateral arms control negotiations. Billingslea, however, is optimistic that Beijing will want to join in and be seen as a world power.

New START imposes limits on the number of US and Russian long-range nuclear warheads and launchers. If it were to collapse, it would be the first time in 50 years that the US does not have the ability to inspect Russian nuclear forces, said Rose Gottemoeller, a former undersecretary of state for arms control and international security.

“Every time they [the Russians] take a missile out of a silo and take it to a maintenance facility, they have to notify us that that missile's going to move. The intelligence community is simply going to have a much harder time knowing what's going on,” she said.

But Trump has accused Russia of not living up to agreements. He cited Russian violations in his announcement on Thursday that the US would withdraw from the Open Skies Treaty. While the

US has officially given its required six-month notice of withdrawal, Trump hinted that he may reconsider and stay in the pact.

Trump also blamed Russian violations for his decision last year to pull out of the 1987 Intermediate-Range Nuclear Forces Treaty that banned production, testing and deployment of intermediate-range land-based cruise and ballistic missiles.

Russia’s Foreign Ministry on Friday accused the US of aiming to dismantle security pacts.

Withdrawing from the Opens Skies Treaty “fully fits into (the US) line on the destruction of the entire complex of agreements in the field of arms control and confidence-building in the military field,” the ministry said.

Senior US administration officials say Trump’s willingness to withdraw from treaties shows he is serious about compliance and is evidence of how prominently arms control verification and compliance will feature in New START talks.

“We are not in the business of negotiating new agreements, or extending old ones, if we cannot be assured that the other parties will hold up their end of the bargain,” Billingslea said. “When it comes to Russia, we have little reason to be confident. Russia's track record is, to be frank, abysmal.”

The US and Russia have about 91 percent of the world's nuclear warheads, according to the Federation of American Scientists. The US has 3,800 in its stockpile and Russia has 4,310.

China has 320 nuclear warheads, although the Defense Intelligence Agency predicted last year that China was likely to at least double the size of its stockpile during the next 10 years.

With the US presidential election just five months away, the question is whether Trump has enough time to negotiate a grand, threeway deal, especially given China's reticence to participate.

Timothy Morrison, an arms control expert and former adviser to Trump on Russia and Europe at the National Security Council, said at a nuclear weapons forum in January that as the months go by, Trump may be “left with a binary question of extend or not extend” New START. “Time is not on the president’s side,” he said. AP

Marketing BusinessMirror

A8 Monday, May 25, 2020

www.businessmirror.com.ph

IPRA celebrates the life of our PR colleague Ramon ‘Bong’ Osorio

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PR Matters

By Joy Lumawig-Buensalido

e, the members of the International Public Relations Association (Ipra) Philippine Chapter, join our friends and colleagues in the advertising and PR industry in remembering and celebrating the life of our beloved friend and member, Ramon “Bong” Osorio, who recently passed.

Bong was, first and foremost, a highly respected leader in the fields of communication, marketing, advertising and public relations where he served with dedication in various capacities: He was president of Capri, an advocacy and PR agency; corporate communications head of ABS-CBN, and was university professor at the University of Santo Tomas, teaching several generations of media, advertising and marketing professionals. He was past president of two other major PR organizations—the Public Relations Society of the Philippines (PRSP) and the International Association of Business Communicators (IABC) and was a much sought-after speaker for various local and international conferences. Bong was also a well-read columnist of the Business Life section of Philippine Star and was our most prolific contributor to this column.

Anyone who has worked with Bong or even just met him briefly has only excellent words to say about him. He was kind, honest and inspiring as mentioned by countless students many of whom he remembered personally so he even considered doing a book, dedicated to his students, which he planned to call Under my Tutelage.

To us , his Ipra family, Bong was more of a warm, caring and a thoughtful ally who was always eager to help out, whether in formulating an important policy in PR, participating in our lively discussions or simply to document our meetings with his endearing selfies peppered with his infectious wit and humour.

Despite his many achievements, Bong remained humble and trustworthy.

We all want to remember him as an outstanding communications professional, a fine gentleman, and a man of God who left us a lasting legacy of sincere and honorable service to our industry. Thank you Bong, for the generous and heartfelt friendship.

On a more personal note, I would like to add that I first met Bong in 1973 when I first taught Public Relations to his graduating batch of Mass Communication students at UST. Our friendship flourished as our careers became interwoven when we both started at Ace-Compton Advertising after which he moved on to other agencies while I set up my own. We kept in constant touch through the years and when I invited him to join us at Ipra, it was a chance for us to meet more regularly. My most memorable time with Bong was when we traveled to South Africa in 2015 to attend the Ipra Golden World Awards. It is said that the best way to get to know a person thoroughly well is when you travel with him. Although there were three of us (my husband was with us), it was never a “crowd” because Bong was delightfully open, gracious and genuinely helpful and we appreciated his company and even planned to travel to another destination again.

They say Life is a gift but the way you live your life is your gift to others. Bong's life was his gift to me and to all of us who knew him. You will always be my closest male friend, (second only to my husband who agrees). You will be missed but never forgotten.

Richard Burgos Director, Science and Technology Information Institute, Department of Science and Technology

Millie F. Dizon Senior Vice President for Marketing and Communications of SM

I first met Bong Osorio when he joined our IPRA group. He was with ABS-CBN at that time, and although he had already made his mark in the PR industry as President of IABC and PRSP, he was remarkably humble, low-key and kind.

Bong was also a wonderful writer, and when we launched our PR Matters column, he would generously share this gift in the many articles he wrote. It was very challenging gathering articles every week from the group—and that is another story—but he was always happy to submit well-researched features which I am sure many readers learned from.

I particularly loved his coverage of the ANC series wherein he gave the BusinessMirror readers a front row seat to the inspiring talks of Richard Branson, Madeleine Albright, and Martha Stewart gave. Later on, I would work closely with him and Joy Buensalido to put together the book we were planning. He would always make time for this, but would always leave before 5:30 as he was serving as an Extraordinary Eucharistic Minister at the Rockwell Chapel.

We would often bump into each other at his cousin Teng Roma’s Emphasis Salon in Rockwell, and spent many happy and light moments there. His last article for this column was his coverage of the Martha Stewart event, which I noticed he was taking unusually a longer time to submit.

He later admitted he was having difficulty with it, and asked the girls in Emphasis to e-mail to me. Little did I know that was the beginning of his illness.

Later on, as his illness progressed, Emphasis would become our point of contact.

I would get updates about his health from Teng, and would send food and books to his Joya unit through Joel from the salon. Bong would graciously text his thanks, and when Joel would ask how he was, he told him to tell me that he was okay and he hoped to be getting stronger. Today, he has joined the Lord whom he loved. Thank you Bong for your friendship, your generosity, and your kindness. You will be missed.

Bong Osoriowas never one to put on airs and yet whenever he entered the room he was a breeze: of calm and deep professional insight, of hilarity and warm friendship. He always carried his own sunshine and at meetings of Ipra Philippines and in private we basked in his radiance.

At the Science and Technology Information Institute (STII) of the Department of Science and Technology we launched DOSTv in 2016 as a broadcast platform to inform the public, reach out to young audiences on social media and help create a culture of science and technology in the country. Our ragtag team had neither the industry experience nor the marketing savvy to sustain DOSTv. Bong served pro bono on the DOSTv Committee and made us leverage assets we already had that could be interesting to our audience segments: weather information, disaster preparedness, research and development breakthroughs, inventions

by Filipinos, outstanding DOST scholars, etc.

He also encouraged us to reach more people and invest in shows on commercial TV channels giving way to new shows like Siyensikat and DOSTv sa Radyo.

I can ill imagine what could have happened to DOST if we did not gain more confidence in our own broadcast strengths when the Covid-19 pandemic became the greatest showstopper of all time. Under this new normal, we are able to broadcast DOST information on social media even from our homes whenever needed. Bong was our wise and inspiring guru who helped our team rise from zero to hero.

Thank you for your service, Bong!

I was not answering the phone. I know I didn’t miss any call at that time because I was busy reading and replying to messages. But I did not correct him anymore. He said he wanted to meet me. His tone was different and did not sound his usual self. I felt the urgency and readily said yes.

We agreed to look for a common date to meet for lunch. Before we ended the call, Bong joked, “Mag-aapply ako sa iyo.” And I said, “Sure. Magpagaling po muna kayo.” Bong was my boss in ABS-CBN for six years until he retired in 2013. I knew him since college, where he was my professor in public relations management. Through the years, we would bump into each other at the University of Santo Tomas, where we both taught parttime. He never failed to spend time for a short conversation. And when you needed advice, he would always be available even if he was busy running a PR agency as its president and CEO. No wonder people often describe him as friendly and accommodating. To many, he is “Sir Bong,” a term of endearment especially for his thousands of students from different fields of whom he was proud of. It gave him much joy to see his students succeed in life.

After all, he was an educator at heart. Even after he retired from work and teaching, he continued to conduct workshops and spoke at conferences. It was his passion to share knowledge and bring out the best in people.

I learned from my team who visited him last Christmas that he still wanted to do many things when he got better. I wondered if he had wanted to discuss those ideas if we had met. But on the night before our meeting, his niece called to reset because of the lockdown.

I wondered how we could meet after the ECQ with the quarantine and social distancing. This pandemic has changed our lifestyle and norms.

Now I will never know what he wanted to discuss because, on the morning of April 30, I got a message asking if the posts about Bong on Facebook were true. That day, I lost a teacher, a mentor, and a coach. Salamat, Sir Bong!

Jingjing Romero President of Stratos Inc.

Kane Choa Vice President & Head of Integrated Corporate Communication of ABS-CBN Corp.

The last time I spoke to Bong was in early March when he called me one night. I answered my phone immediately when I saw his name in the caller ID. He rarely called since his operation last year. He complained that he had a hard time reaching me and that

Bong Osorio was my prayer partner.

Not known to many, Bong and I shared spiritual moments together. It was not the kind that you go to mass together, go on pilgrimages nor pray the rosary together.

In fact while all these were happening we were always apart.

One poignant memory I would like to share, was when he was on pilgrimage in Rome. Without fail, he would text me, everytime he has been to a church, to say he prayed for me. If he visited several churches that day, he would text each time. That meant a lot to me as I just found out I had breast CA. The constant

texts lifted my spirit, knowing that a friend in Rome, instead of enjoying himself, was out there looking after me through prayers.

When he returned, he gave me a beautiful rosary that he said was blessed by Pope Benedict. I did not expect the rosary, as I was just so happy and contented that he was praying for me. He never stopped praying for me, reminding me from time to time that I am in his petitions.

When he fell ill, he called me one day asking for not only my prayers, but for all the novenas I was praying daily.

I told him which prayers I recited for his complete healing. I forwarded all these novenas by messenger and he happily called to thank me for them.

I will always think of him as a prayer partner. I know that from Heaven, Bong continues to pray for me, until it is time for us to meet again.

Ritzi Villarico-Ronquillo APR, IABC Fellow. Consultant and Coach, Business Communication and Strategic PR

Bong was a dear friend, ever supportive, caring, generous with his ideas, a prolific writer, newspaper columnist and educator.

He and I were together in three professional associations: the International Association of Business Communicators (IABC) where he was my predecessor as APAC regional director, in IABC Philippines as Advisers and Past Presidents, in PRSP as Past Presidents and members of the Presidents Council, and in Ipra and Ipra Philippines as members.

We were together in conferences, meetings, programs and events in these organizations; and kapamilya during his ABS-CBN days and my Meralco days. He was a joy to be with, welcoming and helpful.

For all his achievements and sterling credentials, Bong was most unassuming as he continually guided and encouraged both students and practitioners. Bong will be missed.

But his legacy will live on in fond memories and in our hearts.

PR Matters is a roundtable column by members of the local chapter of the United Kingdom-based International Public Relations Association (Ipra), the world’s premier association for senior communications professionals around the world. Joy Lumawig-Buensalido is the President and CEO of Buensalido & Associates Public Relations.

PR Matters is devoting a special column each month to answer our readers’ questions about public relations. Please send your questions or comments to askipraphil@gmail.com.

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

By Ramon Rafael Bonilla

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HE call to adopt bicycles as the safest mode of transportation to combat Covid-19 earned another reputable ally from the House of Representatives as six more sports were added to the growing list of activities that would be allowed during quarantine.

Deputy Speaker Mikee Romero (1-Pacman Party-list) on Sunday called on national and local executives to upgrade road infrastructure and install safety measures if they are to promote a “cycling to work” campaign in the new normal.

And as Romero made his call, the Inter-Agency Task Force on Emerging Infectious Diseases permitted golf, swimming, tennis, badminton, equestrian and skateboarding during the modified enhanced community quarantine (MECQ).

The IATF earlier allowed walking, jogging, running and biking upon the imposition of MECQ last May 16.

Given the financial implications of the coronavirus pandemic and the practice of physical distancing, Romero, a former national cycling federation president, urged commuters to use bicycles in going to work or school because it is faster, cheaper and invigorating.

“The surest and practical way to reach your destination now is to renew our love affair with our bikes,” said Romero as he backed the call of the country’s cycling heavyweights to make bicycle a vital mode of transportation.

Last week, Le Tour de Filipinas’s Bert Lina of the Lina Group of Cos. and Ronda Pilipinas’ Moe Chulani of LBC stressed the need to use bicycle as a mode of transportation after the deadly Covid-19 disease put almost everything on hold.

Although there are already existing lanes is some areas, Romero said bike users should be protected from speeding cars, buses and trucks by putting up protective barriers.

“It’s scary to see a speeding car or a 10-wheeler truck run over a biker. That could be tragic,” said the national polo player

Sports BusinessMirror

Monday, May 25, 2020

ROMERO: MAKE CYCLING SAFE who is the majority owner of AirAsia Philippines.

“If we have to embrace bicycle as an important mode of transportation then we need to upgrade our road infrastructure,” added Romero, who noted that bikes are now selling like hotcakes. “At least there will be barriers.”

“Since bicycling is a good exercise and very affordable, we need good protective road facilities not just ordinary line of paint so that everybody, even the students, would be safe,” he said.

Romero, however, warned would-be bike users to undergo medical checkup first before buying bikes to avoid the tragic accident that befell a biker along Edsa on Friday.

“If you are not fit enough, use other means of transportation,” said Romero. “Walking infrastructure should be likewise be upgraded.”

Under the Resolution No. 38 that was approved last Friday, the IATF permitted walking, jogging, running and biking, “provided that the minimum public health standards such as the wearing of the masks and the maintenance of social distancing protocols, and no sharing of equipment where

DEPUTY Speaker Mikee Romero calls on national and local executives to upgrade road infrastructure and install safety measures to promote a “cycling to work” campaign in the new normal.

applicable are observed.”

Ian Mendez, who coached the national women’s team in the 2020 Badminton Asia Team Championships at the Rizal Memorial Coliseum last February, said this is a welcoming development for the athletes who are stuck in their homes.

“This is a huge help for us. I’m glad they included badminton,” Mendez said.

Mendez, however, stressed the need for protocols for badminton which is generally played in indoor courts.

“We will wait for the confirmation, but, still, we will follow the guidelines, like the physical distancing and wearing of masks,” added Mendez, who is closely monitoring the state of fitness of the national athletes through online platforms.

Out of the woods, Tiger emerges for television match with Lefty, QBs

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HE purpose is to raise $10 million or more for Covid-19 relief efforts, and provide entertainment with four of the biggest stars from the Professional Golfers Association (PGA) Tour and National Football League (NFL).

Another appeal to the Sunday made-for-TV exhibition, The Match: Champions for Charity, is a chance to see Tiger Woods swing a golf club for the first time in 98 days.

Live golf is on television for the second straight Sunday, this one with the game’s biggest headliner.

Woods was last seen on television February 16 at the Genesis Invitational, where he moved cautiously in California’s chilly late winter weather and posted weekend rounds of 76-77 to finish last among the 68 players who made the cut at Riviera.

He skipped a World Golf Championship in Mexico City, and

said his surgically repaired back wasn’t quite ready in sitting out the opening three weeks of the Florida swing. And then the pandemic took over, and there has been no place to play.

This is a reasonable start. Woods and retired NFL quarterback Peyton Manning will face Phil Mickelson and Tom Brady, who won six Super Bowls with the New England Patriots and signed this year with Tampa Bay. The match will be at Medalist Golf Club in Hobe Sound, Florida. It is Woods’s home course and about 20 minutes from Seminole, where last week Rory McIlroy, Dustin Johnson, Rickie Fowler and Matthew Wolff ushered golf’s return to live television.

What to make of Woods?

His only interviews were with GolfTV, the Discovery-owned channel

with whom Woods has a financial deal, and a playful Zoom call with the other match participants hosted by Ernie Johnson of Turner Sports, which is televising the match.

He described his health in the April 9 interview with GolfTV as “night and day.”

“I feel a lot better than I did then,” Woods said. “I’ve been able to turn a negative into a positive and been able to train a lot and get my body to where I think it should be.”

Mickelson has missed the cut in four of his five tournaments this year—the exception was third place at Pebble Beach, where he started the final round one shot behind Nick Taylor and closed with a 75.

Just like last week, rust is to be expected for players who haven’t competed in two months—three, in the case of Woods.

Manning, meanwhile, is retired and is a golf junkie. Brady remains employed, and this week got in some informal work with his new teammates in Tampa Bay. No fans will be allowed, just like last week at Seminole.

One difference is the players will be in their own carts, whereas the four PGA Tour players last week carried their bags.

But this is as much about entertainment as competition. AP

THE Match: Champions for Charity is a chance to see Tiger Woods swing a golf club for the first time in 98 days with Phil Mickelson. AP

NBA GOING TO DISNEY FOR SEASON RESTART? T

HE National Basketball Association (NBA) is in talks with The Walt Disney Co. on a single-site scenario for a resumption of play in Central Florida in late July, the clearest sign yet that the league believes the season can continue amid the coronavirus pandemic.

The National Basketball Players Association is also part of the talks with Disney, the league said Saturday. Games would be held at the ESPN Wide World of Sports Complex, a massive campus on the Disney property near Orlando.

NBA spokesman Mike Bass said the conversations were still “exploratory,” and that the Disney site would be used for practices and housing, as well.

“Our priority continues to be the health and safety of all involved, and we are working with public health experts and government officials on a comprehensive set of guidelines to ensure that appropriate medical protocols and protections are in place,” Bass said.

The ESPN Wide World of Sports Complex is a 255-acre campus with multiple arenas that could host games simultaneously and has been home to, among other things, the Jr. NBA World Championship in recent years.

ESPN, one of the NBA’s broadcast partners, is primarily owned by Disney.

Space won’t be an issue, even if Major League Soccer—which is also in talks to resume its season at Disney—is there at the same time as the NBA. The entire Disney complex is roughly 40 square miles, with nearly 24,000 hotel rooms owned or operated

by Disney within the campus.

The NBA suspended its season March 11, becoming the first of the US major pro leagues to do so after it was revealed that All-Star center Rudy Gobert of the Utah Jazz tested positive for Covid-19. The list of NBA players who were known to test positive eventually grew to 10—not all were identified—and Commissioner Adam Silver said last month that the actual total was even higher.

But the league has been working on countless return-to-play scenarios for several weeks, all with the caveat that testing would be an integral part of any resumption of the season.

It remains unknown where the NBA is in the process of securing tests or developing large-scale testing protocols. Also unclear: how many regular-season games would be played before the postseason begins—or if all 30 teams would be playing. The league has asked team general managers for additional input on those matters. AP

A9

Rick Olivares bleachersbrew@gmail.com

Bleachers’ Brew

My Web-based journalism show TODAY, Monday, I will be doing the first in a series of Web interviews with my colleagues in the media whether they are writers, photographers or editors.

My first guest in the Filoil Flying V Sports/ BlackWater Elite Usapang Journalism is veteran award-winning photographer Ernie Sarmiento and I have lined up Dennis Principe next.

I came up with Sir Ernie at the Inquirer back in the late 1980s and renewed acquaintances when I returned home to Manila in 2006 when I joined BusinessMirror as a columnist. I invited him over for one of my journalism classes at the Ateneo de Manila University.

Now, we get to talk about his memorable photos, the challenges of his career and advice to those who want to take up the craft of photojournalism.

Someone asked me a question about the start of my journ career.

I was in third year college at the Ateneo when I began writing to earn extra money to go on dates and buy my records and comics. I was first assigned to the police beat where my job was to check the police blotters at the UN Avenue and Nepa Q precincts.

The few months in this beat really opened my eyes. Suffice to say that I saw things that no college kid should see. It left me bewildered and angry. Not to mention frightened. I did have nightmares about some. And I have never forgotten anything. It is as clear as day like it only happened yesterday. I wish I could expunge them all from my memory.

I eventually moved to sports covering the defunct Philippine Amateur Basketball League and the occasional Philippine Basketball Association game. The games were fun. Going to the press room was challenging. There were a few typewriters—yes, I know, right? You typed your story and faxed them in. Or you dialed up your editor and dictated your story.

Being the only young guy in the sports press room, I was pushed out of the way for the few typewriters available. No matter if I got there first. One time, I was calling in my story and this senior writer took the phone—even if I wasn’t done—and pressed the plunger. He then called his office to file his story. I even had one lie outright to save her ass at my expense.

That was how it was then.

My dad had this very nice Canon camera that I would borrow and use to take pictures. We had photogs mind you, but I wanted to learn how to take them. None of them were used by the way.

Then when I switched to PDI, I was doing lifestyle, entertainment and features. I profiled ambassadors, musicians, comic book artists and entertainers. And I ghost wrote several dining articles.

I eventually stopped because I went into advertising. That didn’t leave me with any time to write because of the nature of the industry I had joined. And this is where I got into hardcore public relations (if I was done with my copywriting work, I moved over to the PR department at 3 p.m.). The first two people I worked with are some of the richest men in this country. Boy, that was some experience doing their PR. I didn’t know jack about advertising when I joined. I took a crash course and fell in love with it.

In fact, I felt that it refined the way I wrote, thought, and conceptualized things. To see your commercial on television or in the theaters was so cool. The same with the newspapers or on the radio. And I got to go to work in jeans, t-shirts and top-siders or rubber shoes. Not bad. I felt like I was in some grunge band. Some of the directors I worked with—Neil MacDonald, Cholo Laurel and some others— opened my eyes to working behind the camera. And I used this knowledge when I got to Solar Sports where I did several documentaries and TV specials.

I left advertising because I had no life outside work.

However, I always look fondly at this time because I learned and experienced a lot of things that shape the way I work today.

I eventually returned to journ about 16 years later. And I have no regrets. Got to do things I never even dreamed about. I got to write books (I have written about eight so far). I got to meet and work with people I only watched from afar.

And I got to go to places that I only saw on TV or in the pages of a book or magazine.

And I met a lot of cool folks along the way.

And I got to send my kids to school.

God is good. I am always thankful, grateful and appreciative.

This Web-based series with my colleagues is my way of giving back to the trade and craft.

A10 Monday, May 25 , 2020 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

HK seen unraveling another ‘new normal’

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S we argue whether or not the Philippines is in the throes of the first wave of the Covid-19 pandemic, developments in Hong Kong can make even the staunchest China apologist cringe. But it is unlikely that they would ever be embarrassed since government propagandists—particularly those in the press—are extremely dedicated to their “cause.”

Any half-wit in geopolitics knew that “one country, two systems” was nothing more than a diplomatic ploy by the UK and China. Britain had no intention of engaging in an international dispute with China. The rest of Asia did not care at all as the Asian Financial Crisis was beginning to explode. China had no leverage on the UK, and both nations wanted a face-saving way to end Hong Kong’s 99-year life as a European colony.

Everyone needed Hong Kong to keep its status quo charm and yet be legally “China” once again, as it had been more or less since the Qin Dynasty in the third century B.C. The primarily British-controlled banks remained in Hong Kong being the ‘Financial Capital of Asia”, which was good for mainland China.

Western companies could now take better advantage of “Socialism with Chinese characteristics” started by Deng Xiaoping without getting their hands dirty with mainland public and private corruption.

Beijing demanded a declaration of citizenship and allegiance to the People’s Republic of China. But “Hongkongers” and everyone else knew that a person carrying a “Hong Kong Special Administrative Region Passport” was not really one of those “Chinese” types.

Time Magazine: “Chinese authorities announced on Thursday plans to bypass Hong Kong’s legislature to enact a national security.” BBC: “Any law would make criminal any act of: secession—breaking away from the country, subversion—undermining the power or authority of the central government, terrorism—using violence or intimidation against people, and activities by foreign forces that interfere in Hong Kong.” Another “is a suggestion that China could set up institutions in Hong Kong that are responsible for defending national security.”

In 1997, the headlines read: “How Hong Kong can change China?” and “Hong Kong—The Place to Connect and Excel in Asia.” Now they read: “Beijing Has Lit Hong Kong’s Funeral Pyre” and “The End of Hong Kong.”

The Beijing government cares very little about what the rest of the world thinks, but is always desperate to keep its 1.4 billion people if not happy at least under control. China’s total military and police per capita is half that of Spain and one-third of Thailand.

This move on Hong Kong is the opportunity to show its people that Beijing is powerful and in control.

But note this: The Hong Kong dollar (HKD) is “pegged” or artificially fixed to the US dollar. Hong Kong has been able to keep the peg, thanks to the US Federal Reserve cutting rates. Now with this political move and the pandemic killing economies, the clock is ticking on the peg.

Under current economic conditions, the Hong Kong Monetary Authority will have to print HKD to support the economy while keeping interest rates steady. That cannot be done with the “peg.” And a freefloating HKD is not good for China, Asia, or world trade since a good portion of China’s trade goes through Hong Kong and the HKD. The Philippines has a relatively neutral trade balance with Hong Kong but remittances are about $850 million. If the HKD drops the US dollar peg, Asian currency rates will be affected and will have to adjust to another “new normal” condition.

Since 2005

The side effects of technology on our children

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According to the United Nations, about 1.25 billion children and young people in 124 countries are being affected by school closures.

These children are spending their time at home, grappling with the fact that all of a sudden, there are no classmates and friends to interact with and that their parents have suddenly become their teachers.

Sometimes, parents resort to using TV or the Internet to distract their kids so they can get more things done, or so they could simply rest for a bit. Children, therefore, are more exposed to gadgets and technology and, naturally, to the risks related to the increased exposure.

According to the United Nations, about 1.25 billion children and young

time with their kids these days.

Even before Covid-19 happened, we all know that children need “a mix of physical activity, unrestrained play, a big chunk of sleep, and a very limited amount of time on screens” to achieve good health (Canadian 24-Hour Movement Guidelines for Children and Youth).

For children who are five to 17 years of age, the suggested screen time is two hours or less. For toddlers and preschoolers over two years old, it’s just one hour. For children younger than that, screen time is not being recommended.

Atty. Jose Ferdinand M. Rojas II

RISING SUN

ecause of the pandemic and lockdowns the world over, the lives of school children and their parents have been seriously affected. Schools are closed and children are spending more time at home and learning online. Their screen time has increased dramatically. Parents are stressed out because they need to make sure their children are learning well while they worry about job loss, myriad chores, keeping the family physically and mentally healthy and safe, decrease in income, sick friends or relatives, and many other huge concerns.

Virus-proofing cities of the future

BusinessMirror A broader look at today’s business

Thomas M. Orbos

STREET TALK

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people in 124 countries are being affected by school closures. These children are spending their time at home, grappling with the fact that all of a sudden, there are no classmates and friends to interact with and that their parents have suddenly become their teachers. Parents, on the other hand, are trying their best to keep it together as they spend all of their

A

ll over the world, countries are in the process of rethinking their urban landscapes as a result of this global pandemic. With most of the populace locked down and with the stark reality that this way of life will endure beyond the unknown timeline when this will all end, governments are now second-guessing how cities will be on the other side of the pandemic.

Cities provide the perfect environment for pandemics to flourish. The resulting density from the push to sustain urban economies globally is definitely contributing to the stubborn survivability of the virus. Crowding was the formula to sustain economic growth.

Commerce exponentially grew in such an environment. And this required other urban ingredients to follow suit. Public transport, for one, was tailor fitted to efficiently carry massive volumes of commuters from one urban point to another.

Hence, transport efficiencies were measured in volume capacity. Urban roadways initially erased or greatly reduced open spaces for pedestrians to make way for the influx of fast-moving vehicles. In-city housing especially for the needed labor force to feed the economic churn of progress negated individual spatial decencies. Food was brought in as

limited city space to grow them had to make way for progress.

But as we know by now, the exact opposing scenario to combat the virus is needed. Disaggregation, not densification, is required to eliminate its spread. Lockdowns are the immediate and simplest reaction, but such a phase cannot be prolonged, as it will take its toll on the economy. The move toward greater distancing between inhabitants of societies—“social distancing” needs then to see its imprint on how cities in the future is to be built.

Open spaces, low capacity transport, breathable and a self-sustaining environment will be the trademark of the future virus-proof cities. It is anathema to how our modern economies had been built. And it is a tension that all urbanites feel, yet necessary to confront. Urban density is difficult to untangle and will be costly, but is justified as it is

Open spaces, low capacity transport, breathable and a selfsustaining environment will be the trademark of the future virusproof cities. This is anathema to how our modern economies had been built. And it is a tension that all urbanites feel, yet necessary to confront. Urban density is difficult to untangle and will be costly, but is justified as it is now a necessity.

now a necessity.

In the Philippines, the situation is no different. There are concrete indications that our government is looking at reducing density while prioritizing the safety of the whole urban population. Aside from the basic social distancing and disinfecting, the transport department and the MMDA are now seen prioritizing pedestrian and bike lanes.

Buses will take center stage as an urban mode of transport, but their routes rationalized and all vehicles modernized. The Edsa bus loop— always discussed, everyone agrees but never been attempted before—is now close to reality as Department of Transportation has announced its implementation this July. This will not just decongest traffic but will avoid lumping bus passengers with different destinations passing needlessly through Edsa. Another good move is the implementation of the much-delayed central provincial bus terminals taking out

The issue of tech addiction has been a growing problem, now compounded by the effects of the global pandemic. Is there a way to protect our kids from the negative effects of technology and the risks associated with spending time online as we make sure that they continue to receive quality education and some form of interaction with friends and teachers?

Aside from the issues I presented above, experts have also warned against exposure to cyber risks. The Child Online Safety Index declared that around 60 percent of children aged eight to 12 years old are exposed to cyber risks. These risks include cyber bullying, fake news, gaming disorders, privacy issues, online sexual behavior, reputational risks, and others.

How then can we protect our children from the many problems that surround us as we try to navigate this new landscape? We turn to experts for advice and suggestions as we ourselves try to make sense of the changes and challenges we face every day.

the numerous and now hazardous individual in-city terminals. With regards to housing, the government is embarking on a “Balik Probinsiya” program that will see new self-sustaining “mini” cities sprout outside Metro Manila. From what we are told, it will be a governmentwide program that will see various departments—DICT, DepEd, DTI, DOF, etc. pitching in to ensure sustainable economic growth in these new townships. With these plans, other benefits will follow—cleaner air means a less stressful environment equating to better health of the populace.

We know that there will be sacrifices to be made in this direction.

There will be sectors in society that will be left behind or even greatly reduced. There will also be some that will not make it, as there will be no room in their present setup to pivot.

But we will all adjust. Public transport will adjust. Housing will.

Commerce as well. The way we live our lives in the cities of the future is the fruit of what we are now going through because of this pandemic.

The cities of the future will happen.

It will be very different from the cities that we had all grown up in. It will be cities where disaggregation and not densification will be their trademark.

Thomas Tim Orbos was former DOTr undersecretary for roads and general manager of the MMDA. He is currently undertaking further studies at the McCourt School of Public Policy of Georgetown University. He can be reached via e-mail at thomas_orbos@sloan.mit.edu

Opinion BusinessMirror

www.businessmirror.com.ph

Contactless as the new currency

‘Liar, liar, pants on fire!’

By Ney Villasenor | Chief, GCash Corporate Affairs Group

T

wo months in this limbo that many have coined the “new normal,” the Philippines continues to grapple with what to do amid the pandemic that has spurned the health-care system, jobs, businesses, and basically almost everything in its path.

Every day since the outbreak, with draconian quarantine measures in place—from curfews, hard lockdowns, and the mandatory sporting of face masks—our daily lives have become designed to “flatten the curve.” The government has laid down the law—work-from-home schemes were implemented, social distancing measures have become our gospel, and our runs for essential goods were our only allowed trips to the “outside world.”

According to the World Health Organization (WHO), the deadly virus, SARS-CoV-2, spreads through droplets released into the air, mainly through coughs or sneezes. The virus is also able to stay on surfaces for days, with several studies under way to determine how pervasive it is, most saying that it can live for up to 14 days.

No one wants to catch the virus that caused the severe respiratory disease, Covid-19.

Desperate in our pursuit of being Covid-19 free, our economy came at a standstill. Contact became currency, as everyone became more cautious. Every outside visit to the grocery was a risk, and going out of our homes meant exposing ourselves to the unknown.

Truly, the onset of this pandemic has changed the way we interact with the world, every meeting conducted through computer screens miles apart, every mundane task designed to limit human-to-human interactions, with plastic screens and face shields becoming our defenses.

What this pandemic has prompted is a long hard look at what we can do, especially with the government keen on restarting our economy.

Isn’t it only right that we exhaust all means to be able to “flatten the curve”?

In the Philippines, where cash is still king, a spotlight has been cast upon the rapidly growing financial technology (fintech) industry.

It seems to have only proven what experts have been keen to point out years before: It’s high time to go digital.

Watching the new coronavirus disease outbreak unfold into a global catastrophe has highlighted many of the inefficient policies and outdated systems we still have in place in the country. With over 70 percent of our transactions still made in cash, our journey to keep up with our peers in terms of contactless technology is far from over.

In light of this, the Covid-19 pandemic has made bank visits inefficient and difficult, with even seemingly harmless ATM visits becoming a cause for caution.

With most banks being spread out, the suspension of public transportation has only caused problems for the average Filipino who depends on weekly trips to the ATM for cash.

Most banks are located far from rural areas, where an individual has to take several trips to be able to visit.

A 2014 study by the University of the Mediterranean in France even showed that banknotes recovered from hospitals may be contaminated by Staphylococcus aureus. Apart

from this, bills from food outlets have been found to contain salmonella species. A more recent study by creditcards.com even found that credit cards and ATMs can carry bacteria that cause illnesses like staph infections and food poisoning.

The push for frequent handwashing highlights that hand contact is a vehicle for the virus to be transferred from person to person, which is why we have social distancing measures in place.

Doing away with paper money, in this sense, also means less contact.

Anytime we decrease our contact with contaminated surfaces, we also decrease our risk of coming into contact with the virus.

Things that are touched more frequently are going to have more bacteria on them, says Amesh Adalja of Johns Hopkins University. Money, with the way it moves from person to person, has the potential to become a carrier of germs and viruses. Isn’t it only fitting that we become cautious of it as well?

Mobile apps shine in the middle of this pandemic. With smartphone penetration continuously growing locally, the use and download of digital wallets have become more prevalent. Just last month alone, app installations of GCash, the leading digital wallet in the country, doubled.

The many upsides of promoting contactless payments include bridging the gap and fostering inclusivity in the finance sector. While many think going fully digital is not feasible in the country, digital financial services have proven through time that these assumptions are wrong.

Many of the underbanked in rural areas have turned to digital payments as their saving grace. Now, they are able to receive money from their loved ones in real time, able to pay for utilities with just a simple tap.

The local government has also stepped up, recognizing the threat of exposure in using cash for financial aid, tapping third-party companies to aid the distribution of aid through the social amelioration program under the newly minted Bayanihan to Heal as One Act. Makati City, for example, tapped GCash in disbursing financial assistance to more than 500,000 Makatizens who were affected by the community quarantine.

Businesses all over the country have transitioned to online counterparts, utilizing social media and digital payment systems to keep afloat. Deliveries are the norm, as more and more consumers find ways to limit their trip outside.

Staying at home is a directive everyone strives to follow, as we keep our distance donning our face masks and gloves. An easy way to start limiting contact as more malls and shops continue operations is to continue the push for digital payments.

What this global pandemic has highlighted is the much-needed shift to technologies that will help us live through this new normal—turning to mobile payment systems to be able to accomplish tasks like sending their loved ones money, paying for goods, all in real time, all contactless.

Siegfred Bueno Mison, Esq.

THE PATRIOT

W

E all lie.

Lying has been a part of our everyday lives, unfortunately. It seems like each day, I see deception on both traditional and social media from both sides of the spectrum of society. Some justify these lies only to make another lie. Some can get very creative. Lying can be habit-forming and can be honed as a skill. Some deliberately lie to feel safe from the hostile environment of a critical media and a watchful civil society. Some politicians, past and present, have this propensity to make campaign promises, only to break them as soon as they get into office.

Politicians will likely land at the top of any lying statistical survey, yet are often rewarded with another term in office. In a typical campaign strategy, organized lying, more known as propaganda, aims to exercise power over others by limiting or distorting the truth by way of control and concoction. Lying has been a way of life.

Psychological studies have shown that lying is a common phenomenon.

Lying to others seems normal yet can be constructive on very few occasions. For instance, since telling the truth to a murder suspect may dampen his morale, some lawyers tend to stretch the truth, if only to give hope to their client. Perhaps, among all professionals, lawyers are notoriously associated with lying. Or to put it mildly, lawyers are known as fact fabricators or truth distortion experts, if only to benefit their clients’ cause. That is the reason perhaps why Shakespeare once said, “let’s kill all the lawyers.”

But lying to ourselves is not only abnormal but can be totally destructive. Take the case of this one Internet personality, who projected a life of wealth and generosity by posting

videos of him giving relief goods while challenging his neighbors to do the same. His YouTube channel had a significant number of followers, all duped by living lie. He is currently in detention due to some outstanding warrants of arrest. Using multiple identities by way of two passports, this person’s entire life appears to be one great lie after another.

We all lie.

Some lie about the littlest of things, like one golfer I know who purposely declares a wrong score just to win a measly bet. I can consider this untruth as a little white lie, arguably excusable since its impact, at least to me, is limited to a few pesos.

But, to the speaker, such a trivial lie reflects his character. He might win some bets, but at the expense of his honor. Some lie by twisting the simple truth, like the PNP general who kept on giving different versions and angles of his “mañanita” party if only to escape liability from current quarantine rules. Now, this white lie may appear harmless or trivial to the speaker’s point of view and, unfortunately, even to his superiors’ perspective. The PNP leadership found nothing untruthful in their statements

T

he work-from-home movement is gaining steam in Silicon Valley as a flurry of companies—big and small—are embracing remote-working policies beyond the pandemic. But even as some executives extol its virtues, other tech leaders aren’t so sure, opening a growing divide inside the industry over the future of work.

It’s a worthy debate. On Thursday, Facebook Inc. CEO Mark Zuckerberg announced his company will start allowing some existing employees to work from home permanently.

He said Facebook will also “aggressively open up remote hiring” for engineering talent in areas it doesn’t have an office, saying as much as 50 percent of the company’s employees could eventually work remotely within 10 years. In similar fashion,

Others lie more often than others. Sadly, research shows that all people lie everyday even though lying is considered wrong. Science has helped us detect when a person is lying, as in the case of polygraph test, which measures heart rate, skin conductivity, and rate of respiration. Polygraph, however, is not really a lie detector but a fear detector. while valiantly explaining that the photos of a birthday celebration did not violate social distancing rules and the restrictions against mass gatherings. Alas, such lie, uttered by the speaker and tolerated by his superiors, tarnishes the image of the institution, raises questions as to the rationale/spirit of quarantine rules, and destroys the very credibility of the government response to the pandemic. Stretching the truth is often practiced, but seldom punished.

Others lie more often than others. Sadly, research shows that all people lie everyday even though lying is considered wrong. Science has helped us detect when a person is lying, as in the case of polygraph test, which measures heart rate, skin conductivity, and rate of respiration.

Polygraph, however, is not really a lie detector but a fear detector. Anyone who is a comfortable liar, say a poker player, can easily pass a polygraph test.

There is no such thing as 100 percent accurate lie detection test, aside from our God who can see and knows the truth. There is only one version of truth in His eyes. And such truth will last forever, as lies will soon be exposed. In our mortal selves, when we lie to ourselves to avoid being punished or to protect another person from being punished, then lying becomes the worst kind. I wished my PMA classmate, that PNP general, was more truthful to himself. To make a

The new normal in taxation Joel L. Tan-Torres

DEBIT CREDIT Conclusion

O

N the legislative end, the proposed Corporate Income Tax and Incentives Rationalization Act (Citira) was approved by the House of Representatives in House Bill 4157 in September 2019 and endorsed to the Senate. The Senate Ways and Means Committee released Committee Report 50 dated February 17, 2020, endorsing Senate Bill 1357, in substitution of SBs 535, 595 and 702. This is now pending in second reading in the Senate.

On May 14 during the Sulong Pilipinas forum, Neda Secretary Karl Kendrick Chua disclosed that the government is pushing for the repackaging of the Citira with proposals contained in the proposed Corporate Recovery and Tax Incentives for Enterprises Act. The proposals under CREATE include the immediate reduction of the corporate income tax from 30 percent to 25 percent; a longer transition period of additional two years for existing firms that are receiving fiscal incentives; giving the Fiscal Incentives Review Board the mandate to improve

the governance of tax incentives by tailor fitting these to the individual companies’ needs; and, an enhanced net operating loss carry.

It is estimated that there will be a revenue loss of P240.1 billion for the period until 2022.

If CREATE will be pursued, this can be taken up in the bicameral deliberations of the two chambers after the Senate approves the Citira.

In the same forum, Secretary Chua also presented several proposals for new as well as increased taxes. The government is studying the taxation of non-residents en-

Work from home forever? Big tech is divided on that

By Tae Kim | Bloomberg Opinion

Monday, May 25, 2020 A11

Shopify Inc. CEO Tobi Lutke said his e-commerce software company will allow its employees to work from home indefinitely, adding he expects that most of his staff will work remotely going forward. The days of “office centricity is over,” the executive posted on social media. The two companies join Twitter Inc., which said last week it will let employees work from home as standard practice as well.

Not everyone in technology is on board. Take-Two Interactive Software Inc. CEO Strauss Zelnick said on an investor call this week that he believes sustained strong productivity will get more difficult the longer people are forced to work from home, adding that “there is no substitute for in-person collaboration and connection.” That follows comments from Microsoft Corp.

CEO Satya Nadella, who expressed

While there is increased interest and initiative on passing measures that will improve the fiscal position and ability of our government, lawmakers should also consider legislating measures that will further protect taxpayer rights and improve tax administration. The structural changes that may be enacted will provide institutional enhancement and process improvement in the tax system. This, in turn, will result in better tax administration and increased collections without passing new tax laws or increasing existing impositions.

gaged in the digital economy; health sin tax measures; and, increase in tariff on imported fuel.

Secretary Chua also mentioned that the government is supporting the proposed bills of Representative Joey Salceda pertaining to increasing the motor vehicle tax and taxation of Philippine Offshore Gaming Operators. These measures will generate P94.9 billion of tax revenues for the period until 2022.

The CREATE will bring relief to businesses that have been battered by the Covid-19 pandemic.

concern in an interview with the New York Times last week that early positive remote-work productivity metrics may mask underlying deficiencies, in terms of managing and mentoring employees. He also raised worries about potential burnout and mental-health issues. “Maybe we are burning some of the social capital we built up in this phase where we are all working remote. What’s the measure for that?” he asked.

mistake is not necessarily wrong, but simply being human. But, lying about such mistake is not only wrong but also shameful.

We all lie.

Some lies may be justified as acceptable if, for instance, the motive is to get out of awkward situations or out of tact or politeness. But some lies, when anchored on evil motives, are totally unacceptable. While we all lie, let’s remember it is always a sin. We may save others or ourselves from punishment by lying, but our God who is just and right always knows our motives. “Liar liar, pants on fire” is a term used when a great lie is exposed to everyone such that the liar’s pants are burning to attract instant attention. “Pants on fire” indicates that others can readily see the lie, but, despite feeling the panicky heat in his legs, the speaker refuses to admit the lie.

Lying may promote or preserve our careers (PNP general), gain wealth and popularity (Internet personality), or elect us to office (some call them seasoned politicians), but, in the end, lying displeases our true master. After all, the Bible in Proverbs 12:22 tells us, “The Lord detests lying lips, but He delights in people who are trustworthy.” Lying is inevitable, science will tell us. But lying can be tempered by a conscious effort to please the One and not himself or the other.

We all lie, but not everyone has pants on fire.

A former infantry and intelligence officer in the Army, Siegfred Mison showcased his servant leadership philosophy in organizations such as the Integrated Bar of the Philippines, Malcolm Law Offices, Infogix Inc., University of the East, Bureau of Immigration, and Philippine Airlines. He is a graduate of West Point in New York, Ateneo Law School, and University of Southern California. A corporate lawyer by profession, he is an inspirational teacher and a Spirit-filled writer with a mission.

For questions and comments, please e-mail me at sbmison@gmail.com.

This will also attract foreign investors, including Japanese firms that will be leaving China after the recent $2.4 billion economic stimulus package announced by the Japanese government.

While there is increased interest and initiative on passing measures that will improve the fiscal position and ability of our government, lawmakers should also consider legislating measures that will further protect taxpayer rights and improve tax administration. The structural changes that may be enacted will provide institutional enhancement and process improvement in the tax system.

This, in turn, will result in better tax administration and increased collections without passing new tax laws or increasing existing impositions.

Things are looking good for our tax system in the new normal.

Joel L. Tan-Torres is the Dean of the University of the Philippines Virata School of Business. He was the former Commissioner of the Bureau of Internal Revenue, the chairman of the Professional Regulatory Board of Accountancy and partner of Reyes Tacandong & Co. and the SyCip Gorres and Velayo & Co. He is a Certified Public Accountant who garnered No. 1 in the CPA Board Examination of May 1979.

This column accepts contributions from the business community. Articles not exceeding 600 words can be e-mailed to boa.secretariat.@gmail. com.

There’s something to be said for this pushback. Sure, there are many pluses to offering off-site work flexibility—including better employee retention and the ability to hire from a more diverse talent base in other geographies—but corporations should realize the work-fromhome trend isn’t a panacea. In fact, there are significant drawbacks and challenges that shouldn’t be overlooked.

A12 Monday, May 25, 2020

Dangerous weekend for OFWs, DFA field staff in Hong Kong and Libya

By Recto Mercene

T

@rectomercene

HE Philippine Consulate in Hong Kong has advised Filipinos in the former Crown Colony to avoid protest areas starting Sunday (May 24) as tensions rise over Beijing’s planned national security law there.

In an advisory, the Philippine Consulate said they have received reports that a mass protest would be held Sunday in Sogo Mall in Causeway Bay. Hong Kong was not the only diplomatic post on red alert at the weekend.

The Philippine Embassy in Libya, which for nearly a year had been trying, despite meager resources, to protect thousands of OFWs amid the civil war, reported a third incident involving Filipino workers being injured in the cross fire.

A 60-year-old Filipina nurse was wounded by artillery fire in the outskirts of the Libyan capital late Saturday afternoon.

Embassy Chargé d ’affaires Elmer G. Cato said the nurse is the third Filipino casualty since the outbreak of fighting in Tripoli

more than a year ago. Two other Filipinos were wounded in rocket attacks in other parts of Tripoli in early months of the fighting.

The embassy said the nurse sustained a shrapnel wound in the shoulder after an artillery round exploded outside the housing compound where she and several other Filipino hospital workers were staying.

The Philippine Embassy in Tripoli has repeatedly reminded members of the Filipino community to be vigilant and take precautions at all times.

The Department of Foreign Affairs has in the past year told OFWs in Libya they will be repatriated for free by the government, but there were only a few takers.

Most stayed, citing the handsome wage package for mostly medical workers.

In an advisory issued shortly after the latest incident was reported, the embassy advised Filipinos in areas where exchanges of artillery or heavy weapons or small arms fire are taking place “to relocate when able to avoid getting caught in the cross fire.”

Continued on A4

DOT issues ‘new normal’ Covid-19 rules for hotels

By Ma. Stella F. Arnaldo

O

@akosistellaBM Special to the BusinessMirror

NLINE payments, double occupancy rooms, and no handshakes are among the new health and safety protocols issued by the Department of Tourism (DOT) to guide hotels, resorts, and other tourism accommodations while the country deals with the coronavirus disease (Covid-19).

Memorandum Circular 2020002 signed by Tourism Secretary Bernadette Romulo Puyat on May 22, 2020, a copy of which was obtained by the BusinessMirror, spells out the “New Normal Health and Safety Guidelines for Accommodation Establishments,” which cover guest handling, rooms and housekeeping, food and beverage (F&B) service, kitchen sanitation

and disinfection, public areas, hotel transport service, engineering and maintenance service, business practices and management, suppliers of goods and services, management of symptomatic guests, notification and referral of such guests, and other reportorial requirements to the DOT. Guests are required to complete a health declaration form upon

check-in, and are “encouraged” to pay for their bookings online.

Their body temperature will be checked “using a thermal scanner at the hotel entrances by qualified health or medical staff or trained hotel personnel. Those with fever or flu-like symptoms will not be allowed to enter the establishment,” and be referred to the proper medical staff or establishment.

Hotels are now required to provide sanitizing mats “at all entry points,” which guests can use to disinfect their shoes. Hotel staff are no longer required to show the guests to their rooms after checkin, unless strict physical distancing is followed.

Hotels are also required to provide a medical kit and protective personal equipment (PPE) at the reception which includes: disinfectant wipes for surface cleaning, face mask or shield, biohazard disposable waste bag, alcohol or alcoholbased sanitizer, tissue paper/napkin/paper towel, and disposable gloves.

Establishments must clearly mark on the floor the 1-meter distance between guests when in a

queue.

Instead of a handshake, reception and front desk officers can greet or welcome guests with the “Mabuhay Gesture” (right palm placed over the heart), or contactless forms of greeting.

In a Viber message, Christine Ann U. Ibarreta, president of the Hotel Sales and Management Association Inc. (HSMA) said, “We are grateful to the DOT for issuing the new guidelines, and we hope through a regular review of these rules, and as more hotels reopen, we can help the agency further improve or refine them.”

She added, the HSMA is “especially thankful to Secretary Romulo Puyat who heeded our appeal, and allowed the full operation of our hotels.” Earlier, the DOT had planned that only 50 percent of a hotel’s guest rooms be open.

The DOT memo also allows up to double occupancy bookings. “Couples or family members who share the same household may be allowed in double or twin occupancy rooms.

A distance of 1 to 2 meters between beds is highly encouraged.”

Continued on A3

www.businessmirror.com.ph

Companies BusinessMirror

Monday, May 25, 2020

B1

Pandemic-induced changes in JFC operations to cost ₧7B

F

By VG Cabuag

@villygc

ast-food giant Jollibee Foods Corp. (JFC) said it will spend some P7 billion to transform its global business structure amid the pandemic, as it focuses on food deliveries and drive-thru in its stores.

JFC also said it will rationalize its network of stores and supply chain facilities and management staff. The company said it will start “transformation” during this quarter, and the cash will be spent mostly during the year.

“The planned changes will take place in JFC’s businesses around the world, most importantly in its largest markets—the Philippines, China and North America,” said Tony Tan Caktiong, company chairman.

“These changes will be made with the assumption that consum-

ers around the world will not quickly revert to pre-Covid-19 [coronavirus disease 2019] behavior once lockdowns and other forms of restrictions are lifted in different countries.”

Changes include rationalization of the number of restaurants within certain geography or area, the resources deployed in the restaurants, implementation of safety and social distancing protocol in the dining area.

The company will also invest in digital commerce and technology as

SEC offices to reopen to public on May 26

T

he Sec u r it ies a nd E xchange Commission (SEC) will reopen its offices this week and will start processing the company registration and monitor ing applications that have already been assessed and approved via its online registration system.

The SEC’s Company Registration and Monitoring Department (CRMD) will resume work at the agenc y's headquar ters at the Philippine International Convention Center Complex in Pasay starting May 26, following the easing of community quarantine protocols in Metro Manila.

The CRMD will implement a four-day workweek, from Monday to Thursday, and shortened operating hours, from 9 a.m. to 4 p.m., during the modified enhanced community quarantine (MECQ ).

In the meantime, the CRMD shall limit its operations to receiving proof of payment, signed and notarized copies of approved applications, and supplemental documents required during the processing.

T he l im ited operat ions of the CRMD will also include the releasing of Certificates of Incor porat ion /A mend ment a nd Confirmation of Payment and orders in Petitions to Lift Order of Suspension/Revocation and/

or Correction.

The SEC will also open payment facilities at its main office in Pasay and at its former headquarters in Ortigas, Mandaluyong starting May 26. It will accept payments for registration, filing and other fees from Monday to Friday, between 9 a.m. and 2 p.m., in Pasay and 8 a.m. and 3 p.m. in Mandaluyong.

The SEC Extension Offices outside the Nationa l Capita l Region have earlier reopened at limited capacity.

The SEC will operate with a skeleton staff and continue to adopt alternative work arrangements while quarantine measures remain in place, pursuant to the Omnibus Guidelines on the Implementation of Community Quarantine in the Philippines issued by the Inter-Agency Task Force for the Management of Emerging Infectious Diseases.

It will implement strict social distancing and other health protocols such as the enforcement of “no face mask, no entry” policy and limit the number of people allowed inside its offices, among others.

The SEC, however, encourages the public to continue using its online registration platforms to limit unnecessary movements amid the coronavirus disease 2019 pandemic. VG Cabuag

SM FOUNDATION DONATES TEST KITS Antipolo Mayor Andrea Ynares, lawyer Cedrick Capiral, City Legal Officer and Dr. Concepcion Lat, City Health Officer, receive the donation of coronavirus disease 2019 test kits from SM Foundation, turned over by SM Supermalls’ Johanna Rupisan and Dennis Martel. The 200 test kits worth close to P5 million, is good for 2,400 tests and is in support of wider access to testing. This forms part of SM Foundation’s donation efforts of over P270 million for hospitals and local governments. CONTRIBUTED PHOTO

it increases the capacity for deliveryto-home and office, take out and drive thru.

There will be mobile applications to be installed to facilitate food ordering and payment as it establishes “cloud kitchen” or unmarked delivery outlets with no dine-in facility located in discreet, low rent sites.

The fastest-growing business in the group is Smashburger with delivery sales growth of 600 percent and overall same-store sales growth at company-owned stores of single digit to double digits in recent weeks.

In March, the company reduced its capital expenditures this year by 63 percent to just P5.2 billion, from

the previous P14.2 billion, given the operational constraints to the construction of facilities and to the uncertain volume of demand due to the limited mobility of consumers.

JFC said it still expects to open a worldwide total of 171 companyowned new stores and renovate 96 existing stores this year.

Ysmael V. Baysa, the company’s CFO, said the company’s first quarter sales and income “was not good” due to the temporary closure of many of its stores during the Covid-19 lockdown, which eliminated most of its dine-in sales in stores first in China in February and the rest of the world in March. The company still has to

disclose its first quarter figures.

“In the next few months, even as lockdowns begin to be lifted, we forecast that sales will continue to be much lower than year-ago levels.

Our estimate is that our profit for 2020 will not be good at all due to the overall economic environment," said Baysa.

“We are taking this opportunity to implement truly major changes in 2020 so that Jollibee will start 2021 in a much stronger position in terms of business model, operating efficiency, profitability and organization strength. We will then resume strong and consistent profitable growth for the years ahead.”

B2

Companies BusinessMirror

Monday, May 25, 2020

PSE STOCK QUOTATIONS

May 22, 2020

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

BDO UNIBANK BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PB BANK PBCOM PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK COL FINANCIAL FERRONOUX HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH SUN LIFE VANTAGE

89.6 61.75 19.22 6.68 33.95 9.01 17.62 20 42.95 15.4 82.75 53.7 15.7 2.38 610 0.61 169 1575 0.96

89.65 62.3 19.24 6.7 34 9.49 18.94 20.15 43 16.18 82.9 54 16.1 2.39 660 0.64 169.7 1639 1.05

92.25 63 19.28 7.05 35.1 9.02 17.6 20.1 43.45 15.52 86.1 53.7 16 2.4 600 0.66 169.7 1580 1.02

92.4 63 19.3 7.1 35.1 9.07 19 20.55 43.5 15.54 86.95 54.7 16 2.4 601 0.66 169.7 1580 1.02

89.3 61.3 19.2 6.66 33.9 9 17.58 20 42.95 15.4 82.2 53.7 15.7 2.39 600 0.6 169 1580 1.02

89.6 62.3 19.22 6.68 34 9 19 20 43 15.4 82.75 53.7 15.7 2.39 601 0.64 169 1580 1.02

5700450 1363770 230300 2331100 3053000 41000 3000 176500 3300 9000 1172290 7150 20800 11000 30 382000 50 10 10000

513962809.5 84531586.5 4431274 15868489 104250555 369633 53842 3554050 142035 138780 98417493 384613 332660 26330 18010 233450 8457 15800 10200

-245474830.5 15077701 -951712 -3488619 -12304405 -1591050 -58747068.5 -47793 -12000 -

INDUSTRIAL AC ENERGY 2.13 2.14 2.16 2.2 2.14 2.14 3294000 7109970 ALSONS CONS 0.84 0.89 0.88 0.91 0.84 0.84 921000 784350 ABOITIZ POWER 26.15 26.5 26 26.7 25.8 26.5 864900 22805185 0.161 0.163 0.161 0.163 0.161 0.163 60000 9680 BASIC ENERGY FIRST GEN 17.72 17.74 17.7 17.86 17.68 17.74 156800 2,781,112( 52.75 54 52.75 53.3 52.7 52.75 25820 1363162.5 FIRST PHIL HLDG MERALCO 273.4 276 275.8 276 271.2 276 177570 48611664 MANILA WATER 11.62 11.72 11.74 11.78 11.58 11.62 2055400 23963510 PETRON 2.95 2.96 3 3.01 2.93 2.96 674000 2006860 2.38 2.42 2.4 2.42 2.4 2.42 31000 74430 PETROENERGY PHX PETROLEUM 11.02 11.24 11.28 11.28 11.28 11.28 100 1128 PILIPINAS SHELL 16.84 16.9 17.42 17.42 16.64 16.9 704100 11896188 SPC POWER 7.76 7.79 7.82 7.82 7.76 7.76 280000 2182296 VIVANT 12.52 15 11 11 11 11 1600 17600 AGRINURTURE 6.91 7.15 7.17 7.25 6.9 7.15 502800 3538295 2.75 2.76 2.69 2.75 2.69 2.75 941000 2568920 AXELUM 15.26 15.28 15.26 15.32 15.26 15.28 495000 7569494 CENTURY FOOD 4.1 4.49 4.12 4.65 4.05 4.1 225000 963420 DEL MONTE DNL INDUS 5 5.07 5 5.09 4.95 5.07 326000 1639090 EMPERADOR 7.68 7.7 7.7 7.78 7.7 7.7 1004500 7734784 SMC FOODANDBEV 62 62.2 63.5 63.5 62 62 1586800 99212384.5 0.54 0.55 0.54 0.55 0.53 0.55 266000 143630 ALLIANCE SELECT FRUITAS HLDG 1.26 1.27 1.31 1.32 1.27 1.27 7031000 9046460 29.5 30 29.4 30 29.4 30 3300 97340 GINEBRA JOLLIBEE 132.9 133 138 138 133 133 1360790 183927657 MAXS GROUP 5.6 5.63 5.64 5.68 5.6 5.6 113400 638615 MG HLDG 0.119 0.143 0.12 0.143 0.115 0.143 340000 39810 1.91 1.92 1.92 1.92 1.91 1.92 297000 567400 PEPSI COLA 5.66 5.67 5.8 5.8 5.67 5.67 365500 2077721 SHAKEYS PIZZA 1.75 1.77 1.73 1.78 1.66 1.75 5403000 9291470 ROXAS AND CO UNIV ROBINA 122.9 123 124.6 125 122.6 123 1163090 143146406 VITARICH 0.78 0.79 0.8 0.81 0.78 0.79 569000 450210 1.07 1.08 1.08 1.09 1.07 1.08 3409000 3661570 CEMEX HLDG 4.02 4.78 4.04 4.04 4.02 4.02 200000 805100 DAVINCI CAPITAL EAGLE CEMENT 8.2 8.3 8.46 8.46 8.2 8.3 38500 318086 EEI CORP 4.89 4.96 5.09 5.09 4.86 4.89 492000 2413220 HOLCIM 7.7 7.77 7.78 7.78 7.61 7.77 197200 1521743 MEGAWIDE 5.05 5.08 5.15 5.2 5.05 5.05 2112700 10,733,801( 0.76 0.78 0.76 0.79 0.76 0.79 50000 38060 TKC METALS VULCAN INDL 0.63 0.65 0.66 0.66 0.63 0.63 143000 94070 120.2 144.8 130 130 130 130 100 13000 CHEMPHIL CROWN ASIA 1.71 1.73 1.74 1.74 1.73 1.73 120000 207700 EUROMED 2.45 2.46 2.55 2.55 2.42 2.46 972000 2398230 PRYCE CORP 4.3 4.49 4.5 4.5 4.3 4.3 23000 99500 22.8 23 22.75 23 22.75 23 2800 63935 CONCEPCION 1.41 1.42 1.43 1.43 1.37 1.42 2077000 2903920 GREENERGY 5.4 5.5 5.5 5.51 5.27 5.4 383600 2081665 INTEGRATED MICR IONICS 1.19 1.21 1.22 1.23 1.17 1.21 920000 1104100 SFA SEMICON 1.33 1.34 1.36 1.37 1.3 1.34 3550000 4725820 CIRTEK HLDG 7.65 7.66 7.94 7.94 7.56 7.65 4552600 34835777

-54160 9536385 1,822,980.0004) -1186540 -596190 -8773816 -516840 2921444 424728 1769360 829862 -65160 -539050 -7700000 94630066 -527120 -55501649 -34364 13420 94963 294990 -53061676 8400 -461810 24450 2,962,371.0002) 2520 7589.9999 -90499.9999 -13800 27400 -464555 93480 5260 -23915

HOLDING & FRIMS ABACORE CAPITAL 0.485 0.49 0.51 0.51 0.485 0.485 7118000 3506345 ASIABEST GROUP 7.98 8.17 8.22 8.22 7.95 8.16 3600 29205 AYALA CORP 666 677.5 685.5 690 666 666 226650 153661750 41.05 41.5 41.5 41.95 40.75 41.5 238200 9840250 ABOITIZ EQUITY 6.04 6.05 6.16 6.19 6.03 6.05 2291300 13902932 ALLIANCE GLOBAL 1.63 1.64 1.66 1.68 1.62 1.63 3332000 5484630 AYALA LAND LOG ANSCOR 5.98 6.2 6.2 6.2 6 6 12600 76140 ANGLO PHIL HLDG 0.51 0.54 0.51 0.51 0.51 0.51 80000 40800 ATN HLDG A 0.5 0.51 0.51 0.52 0.51 0.51 677000 345360 0.52 0.57 0.53 0.53 0.52 0.52 300000 157020 ATN HLDG B 4.98 4.99 5.04 5.1 4.96 4.98 1474600 7384662 COSCO CAPITAL 4.09 4.1 4.1 4.13 4.07 4.1 2713000 11119600 DMCI HLDG FILINVEST DEV 8 8.96 8 8 8 8 10000 80000 FORUM PACIFIC 0.156 0.187 0.156 0.156 0.156 0.156 60000 9360 GT CAPITAL 372 375 370 389.6 368.4 372.2 187370 70761142 3.34 3.65 3.48 3.65 3.34 3.65 69000 240970 HOUSE OF INV 48.15 49.1 47.8 49.35 47.65 49.1 1330400 64086870 JG SUMMIT 5.2 5.72 5.21 5.72 5.2 5.72 2100 11040 JOLLIVILLE HLDG LODESTAR 0.51 0.54 0.52 0.54 0.52 0.53 49000 25620 LOPEZ HLDG 2.44 2.45 2.46 2.46 2.43 2.45 1651000 4028730 LT GROUP 7.3 7.39 7.16 7.4 7.16 7.39 1231600 8909766 2.67 2.68 2.79 2.8 2.67 2.67 32826000 88544070 METRO PAC INV 0.77 0.8 0.78 0.78 0.78 0.78 65000 50700 PRIME MEDIA SOLID GROUP 0.98 0.99 0.93 0.98 0.93 0.98 12000 11630 SM INVESTMENTS 825 828 829.5 834 818 828 313950 259384840 SAN MIGUEL CORP 95.9 95.95 96 96 95.65 95.95 166050 15928930 TOP FRONTIER 134.4 136 129.3 136 127.2 136 3550 462444 0.178 0.192 0.177 0.18 0.177 0.18 1140000 202100 WELLEX INDUS ZEUS HLDG 0.138 0.143 0.144 0.144 0.144 0.144 10000 1440

-294000 -8230230 -345810 -5091357 29400 -1060 -612613 3840370 -80000 -16406478 -59160 3467460 1560 -705140 -713682 -43008190 -1880 -74017170 6266368.5 16630 -

PROPERTY ARTHALAND CORP 0.5 0.51 0.5 0.51 0.5 0.5 174000 87170 AYALA LAND 30.9 30.95 32.25 32.25 30.9 30.9 7955700 249316590 BELLE CORP 1.33 1.35 1.33 1.35 1.32 1.35 36000 47610 0.53 0.54 0.52 0.54 0.52 0.54 349000 183690 A BROWN CITYLAND DEVT 0.73 0.75 0.73 0.73 0.73 0.73 2000 1460 CROWN EQUITIES 0.124 0.13 0.124 0.124 0.124 0.124 10000 1240 CEBU HLDG 5.37 5.5 5.5 5.5 5.5 5.5 50200 276100 CEB LANDMASTERS 3.84 3.85 3.97 3.97 3.85 3.9 371000 1454020 CENTURY PROP 0.34 0.345 0.345 0.345 0.345 0.345 510000 175950 0.26 0.28 0.27 0.27 0.26 0.26 190000 50400 CYBER BAY DOUBLEDRAGON 17.68 17.7 16.94 18.2 16.82 17.68 819900 14388716 6.48 6.5 6.5 6.5 6.47 6.5 638900 4152603 DM WENCESLAO EVER GOTESCO 0.128 0.129 0.114 0.145 0.114 0.128 40080000 5359120 FILINVEST LAND 0.92 0.93 0.93 0.94 0.91 0.93 2248000 2077170 GLOBAL ESTATE 0.8 0.83 0.8 0.84 0.8 0.8 654000 526000 10 10.3 9.91 10.3 9.9 10.3 20000 198750 8990 HLDG PHIL INFRADEV 0.83 0.84 0.82 0.85 0.8 0.83 2050000 1694830 3.4 3.65 3.4 3.65 3.4 3.65 4000 13850 KEPPEL PROP CITY AND LAND 0.66 0.75 0.64 0.67 0.64 0.66 4000 2610 MEGAWORLD 2.63 2.64 2.63 2.65 2.6 2.64 8459000 22202470 MRC ALLIED 0.146 0.147 0.148 0.148 0.145 0.147 3620000 529080 0.28 0.285 0.28 0.285 0.28 0.285 360000 101600 PHIL ESTATES ROBINSONS LAND 14.64 14.66 14.8 15 14.6 14.66 1437400 21148462 0.239 0.246 0.243 0.246 0.24 0.246 340000 82710 PHIL REALTY ROCKWELL 1.44 1.45 1.46 1.46 1.46 1.46 1000 1460 SHANG PROP 2.66 2.67 2.67 2.67 2.67 2.67 13000 34710 STA LUCIA LAND 1.9 1.94 1.9 1.95 1.9 1.95 108000 209340 29 29.05 29 29.25 28.55 29 5793800 168077200 SM PRIME HLDG 1.19 1.2 1.21 1.21 1.18 1.19 498000 591870 SUNTRUST HOME VISTA LAND 3.36 3.44 3.4 3.4 3.36 3.36 1556000 5253010

-80542280 -1320 -276100 -833170 1508188 -3930550 -274570 429720 -150 -199200 3836910 -1709454 -40398150 -4965840

SERVICES ABS CBN 15.72 15.78 15.9 15.98 15.7 15.72 268000 4228240 GMA NETWORK 4.85 4.9 4.94 4.94 4.85 4.85 646000 3144160 MANILA BULLETIN 0.36 0.37 0.36 0.375 0.36 0.37 80000 29550 16.96 17.98 18.64 18.68 17 17.98 10800 192734 MLA BRDCASTING GLOBE TELECOM 2220 2232 2284 2290 2200 2232 91900 205707150 1211 1216 1228 1228 1211 1211 38995 47417080 PLDT DFNN INC 2.8 2.85 3 3 3 3 1000 3000 DITO CME HLDG 2.21 2.22 2.28 2.32 2.21 2.21 60949000 138815740 ISLAND INFO 0.062 0.078 0.079 0.079 0.079 0.079 30000 2370 1.7 1.71 1.72 1.74 1.68 1.7 1316000 2238280 NOW CORP 0.176 0.18 0.18 0.18 0.18 0.18 510000 91800 TRANSPACIFIC BR PHILWEB 2.32 2.33 2.36 2.36 2.3 2.32 459000 1062510 2GO GROUP 9.6 9.64 10.08 10.08 9.64 9.64 52500 510300 ASIAN TERMINALS 15.52 16.92 15.62 15.62 15.22 15.52 14600 224162 CHELSEA 3 3.05 3.08 3.1 3 3 1158000 3504120 35.35 35.5 37.4 37.5 35.25 35.35 476300 17106075 CEBU AIR 84.3 84.35 84.05 84.7 82.2 84.3 781970 65713704 INTL CONTAINER 12.54 13.88 14 14 12.54 13.9 1800 24524 LBC EXPRESS LORENZO SHIPPNG 0.73 0.78 0.77 0.78 0.77 0.78 13000 10130 MACROASIA 3.91 3.92 4.06 4.15 3.88 3.92 6061000 24108810 METROALLIANCE A 2.5 2.51 2.68 2.72 2.46 2.5 5984000 15326570 2.12 2.79 2.55 2.55 2.55 2.55 2000 5100 METROALLIANCE B PAL HLDG 6.18 6.28 6.6 6.6 5.99 6.28 106100 649997 HARBOR STAR 0.79 0.8 0.79 0.82 0.79 0.79 146000 116510 BOULEVARD HLDG 0.025 0.026 0.025 0.027 0.025 0.025 28100000 721000 WATERFRONT 0.375 0.39 0.365 0.385 0.365 0.375 950000 353150 CENTRO ESCOLAR 6.01 6.29 6.29 6.29 6.29 6.29 200 1258 6.61 7.99 6.33 7.99 6.33 7.99 18700 125368 IPEOPLE STI HLDG 0.3 0.305 0.305 0.305 0.29 0.3 4810000 1429250 2.08 2.09 2.07 2.1 2.05 2.09 72000 148720 BERJAYA BLOOMBERRY 5.34 5.35 5.26 5.37 5.26 5.34 32156600 171331589 PACIFIC ONLINE 1.86 1.91 1.86 1.91 1.86 1.91 3000 5630 1.44 1.48 1.44 1.44 1.44 1.44 1000 1440 LEISURE AND RES PH RESORTS GRP 2.16 2.28 2.28 2.28 2.28 2.28 2000 4560 PREMIUM LEISURE 0.29 0.295 0.295 0.3 0.29 0.295 2530000 746050 ALLHOME 5.65 5.69 5.79 5.79 5.61 5.69 1041500 5941431 METRO RETAIL 1.6 1.61 1.68 1.68 1.6 1.61 3149000 5,058,430( PUREGOLD 46.05 46.2 45.8 46.35 45.8 46.15 2861600 132230060 69.5 69.8 71 71 69 69.8 69430 4826716.5 ROBINSONS RTL 130.5 131 130 131 130 130 72040 9372383 PHIL SEVEN CORP 1.11 1.12 1.13 1.13 1.12 1.12 2413000 2703290 SSI GROUP WILCON DEPOT 15.1 15.28 15.1 15.28 14.9 15.28 889400 13351596 APC GROUP 0.3 0.305 0.305 0.305 0.3 0.3 60000 18050 EASYCALL 6.81 6.98 6.8 7.19 6.78 6.98 38100 260508 300 315 315 315.4 315 315.4 50 15758 GOLDEN BRIA PRMIERE HORIZON 0.212 0.217 0.217 0.218 0.212 0.213 1360000 292440

-89986400 -20769600 -131790 -57760 145429.9997 -10581490 11031334.5 158539.9999 -617550 3174630 -147500 1009362 1,592,820.0001) 33444050 -679608.5 91000 -1779800 4145302 -

MINING & OIL

ATOK 9.84 10.24 10.38 10.8 9.84 10.24 68800 679423 APEX MINING 0.9 0.91 0.91 0.92 0.9 0.91 2389000 2160000 0.0009 0.001 0.001 0.001 0.0009 0.001 61000000 60400 50000 ABRA MINING 0.88 1.09 1.12 1.12 1.12 1.12 1000 1120 BENGUET A COAL ASIA HLDG 0.174 0.186 0.171 0.171 0.171 0.171 400000 68400 CENTURY PEAK 2.68 2.71 2.68 2.71 2.68 2.71 247000 664560 324200 DIZON MINES 6.99 7.1 7 7.1 7 7.1 1200 8500 FERRONICKEL 0.77 0.79 0.81 0.82 0.77 0.77 2051000 1616120 -4900 0.199 0.202 0.201 0.206 0.2 0.2 190000 38520 GEOGRACE LEPANTO A 0.076 0.079 0.08 0.08 0.077 0.077 110000 8650 LEPANTO B 0.075 0.08 0.08 0.08 0.075 0.075 1920000 144180 MANILA MINING A 0.0063 0.0064 0.0063 0.0063 0.0063 0.0063 2000000 12600 MANILA MINING B 0.007 0.0079 0.007 0.007 0.007 0.007 13000000 91000 MARCVENTURES 0.53 0.54 0.53 0.53 0.52 0.52 6000 3140 1 1.02 1.02 1.02 1 1.01 17000 17040 NIHAO NICKEL ASIA 1.54 1.56 1.59 1.59 1.54 1.54 4210000 6534290 -1072120 0.37 0.38 0.38 0.38 0.38 0.38 10000 3800 OMICO CORP PX MINING 2.3 2.34 2.37 2.37 2.3 2.3 281000 660030 -87470 SEMIRARA MINING 11.22 11.3 11.2 11.3 11.16 11.3 290100 3262606 -778676 ACE ENEXOR 6.49 6.64 6.73 6.73 6.49 6.64 43700 287102 0.0084 0.0086 0.0086 0.0086 0.0084 0.0084 2000000 17000 ORNTL PETROL A PHILODRILL 0.008 0.0081 0.0081 0.0081 0.008 0.008 3000000 24100 PXP ENERGY 4.84 4.85 5.02 5.15 4.82 4.84 3599000 17807046 831430.0002

PREFFERED AC PREF B2R 494 502 498 498 494 494 4100 2025440 CPG PREF A 99.5 99.6 99.6 99.6 99.5 99.6 1250 124470 19920 99.9 100 99.4 99.5 99 99.5 156000 15475866.5 DD PREF FGEN PREF G 104 107 107.2 107.2 107.2 107.2 10 1072 GLO PREF P 510 520 510 510 510 510 100 51000 MWIDE PREF 99.5 100 100 100 99.6 100 20000 1999680 PNX PREF 3A 98 101 100 100 98 98 610 60780 50000 PNX PREF 4 996.5 999 999 999 999 999 13470 13456530 9990 1030 1039 1040 1040 1030 1030 780 804400 PCOR PREF 2B PCOR PREF 3A 1021 1023 1023 1023 1023 1023 10 10230 SMC PREF 2C 76.9 77.1 77.3 77.3 76.9 76.9 10300 792640 SMC PREF 2F 76.5 77 77 77 76 76 40000 3041300 1520000 SMC PREF 2I 76.5 76.9 76.6 76.6 76.5 76.5 34090 2607888 -765000

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 14.6 14.7 14.8 14.8 14.7 14.7 39500 581440 -391100 GMA HLDG PDR 4.71 4.87 4.71 4.89 4.71 4.88 363000 1774870 29160

WARRANTS LR WARRANT 0.69 0.7 0.7 0.7 0.69 0.69 15000 10480

SMALL & MEDIUM ENTERPRISES ITALPINAS 1.79 1.8 1.89 1.93 1.72 1.79 2278000 4159960 217000 KEPWEALTH 6.1 6.3 6.1 6.4 6.1 6.3 1300 7980 0.59 0.6 0.6 0.6 0.59 0.59 286000 169640 XURPAS

EXHANGE TRADE FUNDS

FIRST METRO ETF 84.3 84.9 85.5 86 84.3 84.3 13990 1189376 -

www.businessmirror.com.ph

PSA to focus on track record of bidders for national ID deal

T

By Cai U. Ordinario

@caiordinario

he Philippine Statistics Authority (PSA) has decided to focus on the track record of bidders and their sustainability in choosing the right firm to bag the biggest and last contract in the Philippine Identification System (PhilSys), or the national ID project.

PSA said this is part of their proposed alternative requirements they submitted to the Government Procurement Policy Board (GPPB) for the procurement of the Systems Integrator (SI) contract.

Last week, Socioeconomic Planning Secretary Karl Kendrick T. Chua told senators that the PSA is already procuring the SI for the national ID. The SI is essentially a consultancy contract which will bind all the components of the PhilSys. “As a priority project, the national ID cannot be delayed any further.

That is why we have proposed alternative ways of complying with documentary requirements in compliance

with pertinent resolutions issued by the Government Procurement Policy Board,” said National Statistician Claire Dennis S. Mapa.

“We will focus on the track record of the bidders and evaluate their suitability against the determined eligibility criteria as with all other competitive bidding,” Mapa added.

Mapa told BusinessMirror over the weekend that reducing the number of requirements would help bidders prepare for the bidding in the shortest possible time.

He said the pandemic is making it difficult for bidders to secure the necessary clearances and documents needed in the government’s

STOCK-MARKET OUTLOOK Last week

Share prices declined slightly this week, as investors stayed on the sidelines after the value of trading plunged.

The benchmark Philippine Stock Exchange index (PSEi) gave up 2.76 points to close at 5,539.19 points.

Daily average trading for the week was at P3.54 billion, or just half of the average weekly trade at the start of the year. There were days that value of trade was at P3 billion level, or even fell to just P2.7 billion on Wednesday.

“Most investors are on the sidelines, not confident in holding riskier assets because of the current environment. That being said, it ended the week with minor losses as the positive movement in equities abroad helped lighten the sentiment in local equities as well,” said Christopher Mangun, research head at AAA Securities Inc. Foreign investors were still net sellers at P1.73 billion, bringing their year-to-date at P56.46 billion.

Other subindices were mostly down led by the broader All Shares index that fell 6.63 points to close at 3,349.98, the Financials index shed 26.90 to 1,102.50, the Industrial index plunged 201.96 to 7,304.81, the Holding Firms index gained 103.35 to 5,540.44, the Property index declined 29.75 to 2,785.90, the Services index rose 8.09 to 1,322.13 and the Mining and Oil index dropped 40.21 to 4,465.27.

For the week, losers outnumbered gainers 149 to 71 and 21 shares were unchanged.

Top gainers were Ever-Gotesco Resources and Holdings Inc., Imperial Resources Inc., SFA Semicon Philippines Corp., Philippine Bank of Communications, Greenergy Holdings Inc. and I-Remit Inc. Top losers were Vivant Corp., Makati Finance Corp., Cebu Air Inc., Forum Pacific Inc., Coal Asia Holdings Inc., and Alsons Consolidated Resources Inc.

This week

Share prices may continue to go down this week as investors will continue to stay on the sidelines while they await some market catalysts.

This week will be a four-day trading week as Monday is a public holiday in observance of Eid’l Fitr or the Feast of Ramadhan.

“This week's trading is still expected to have a downward bias as the market, already weighed by the pandemic and its adverse economic impact, faces a brewing geopolitical tension offshore. With no solution yet against Covid-19 [coronavirus disease 2019], investors will still deal with the health to economy trade-off dilemma,” said Japhet Louis O. Tantiangco, senior research analyst at Philstocks Financials Inc. “The easing of quarantine measures allows resumption of some economic activities but at the risk of a further virus spread,” Tantiangco added.

Mangun said trading will be sideways as it has been in the last four weeks, but this time, it will have a negative bias as investors have already walked away from the market.

“The PSEi has resiliently stayed above the 5,350 support level since it broke above it back in April. But after several weeks, most of its upside momentum is gone and investors may take more cash off the table as the current environment remains unstable,” he said.

Stock picks

Broker Regina Capital Development Corp. recommended to buy shares of Ayala Land Inc. (ALI) when its support price holds between P32.50 and P30 per share.

“At this point, expect ALI to settle at its immediate support at P32.45 since even volatility is simmering down. It is still trading within its week-long range between a support at P30 and a resistance at P33.75,” it said, adding that its indicators show signs of continued sideways consolidation.

AyalaLand shares closed Friday at P30.90 apiece.

Meanwhile, the broker gave the same recommendation on the shares of Puregold Price Club Inc., when its price settles at P44 apiece.

The share price of the grocery operator fell for six straight trading days before increasing. The said its share price now has a strong resistance at P50.

“Indicators are mixed, but show more of a selling bias than anything. Seeing as this is the fastest reacting indicator, it may point to Puregold possible trading sideways,” it said.

Shares of Puregold closed last week at P46.15 apiece. VG Cabuag

procurement rules.

These changes, Mapa said, were allowed under the GPPB’s issuances in light of the Covid-19 pandemic and the passage of the Bayanihan to Health as One Act. “We are in extraordinary times in light of the pandemic, and given this, our prospective bidders would need longer time to secure necessary clearances and other documentary requirements,” he said.

“To clarify, we are able to continue with our procurement for PhilSys guided by these GPPB issuances and resolutions which are in accordance with RA9184. The procurement of the Systems Integrator is in compliance with GPPB rules,” he added.

The SI is part of the four major procurement blocks for PhilSys. The three other procurement blocks have already been completed.

The other three procurement blocks are the 5,000 registration kits, card production, and the Automated Biometric Identification System (ABIS) that is considered as the “brain” of PhilSys. PSA said the Expression of Interest (EOI) Conference for the Systems Integrator (SI) on May 19 attracted 56 prospective bidders.

The Issuance of the Notice of Award followed by the signing of the contract is scheduled not later than

mutual funds

August, in time for the start of the registration in the fourth quarter.

PSA documents indicated that the start of the opening of registration in October, the first phase of delivery that will include registration requirements, is due three months from the Notice to Proceed which is targeted to be released by the end of July.

“The SI shall provide cutting-edge technologies that will ensure seamless integration between the registration kits, ABIS, and card production,” Mapa added.

The PSA also said it is currently developing registration protocols that are strictly adherent to health measures prescribed by the Department of Health for the registration.

These measures include physical distancing, sanitation of areas and equipment, and provision of personal protective equipment to registration staff.

PSA was mandated to implement the provisions of the Philippine Identification System Act (Republic Act 11055) which was signed by President Duterte in August 2018.

PhilSys is expected to improve the implementation of social welfare programs, expand access to government services, and promote financial inclusion. PSA aims to register almost all Filipinos to PhilSys by the end of 2022.

May 22, 2020

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 184.99 -28.39% -11.9% -8.04% -26.56% ATRAM Alpha Opportunity Fund, Inc. -a 0.9306 -41.63% -15.46% -9.44% -32.66% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.484 -38.16% -16.45% -10.87% -32.47% Climbs Share Capital Equity Investment Fund Corp. -a 0.6428 -30.3% n.a. n.a. -28.35% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6655 -22.36% n.a. n.a. -21.64% First Metro Save and Learn Equity Fund,Inc. -a 4.0471 -24.56% -8.92% -7.24% -24.05% First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.6245 -27.15% -12.98% n.a.

-26.84% MBG Equity Investment Fund, Inc. -a 74.14 -39.61% n.a. n.a. -28.25% PAMI Equity Index Fund, Inc. -a 36.9647 -27.52% -10.5% n.a. -27.92% Philam Strategic Growth Fund, Inc. -a 398.28 -25.13% -9.73% -7.05% -25.24% Philequity Alpha One Fund, Inc. -a,d,5 0.8463 n.a. n.a. n.a. -17.84% Philequity Dividend Yield Fund, Inc. -a 0.9508 -26.71% -9.6% -6.39% -26.12% Philequity Fund, Inc. -a 27.8613 -26.75% -9.22% -6.24% -26.48% Philequity MSCI Philippine Index Fund, Inc. -a 0.7323 -28.23% n.a. n.a. -28.07% Philequity PSE Index Fund Inc. -a 3.7659 -27.12% -10% -6.2% -27.9% Philippine Stock Index Fund Corp. -a 629.53 -27.01% -9.99% -6.4% -27.81% Soldivo Strategic Growth Fund, Inc. -a 0.5787 -37.13% -13.62% -10.13% -32.03% Sun Life Prosperity Philippine Equity Fund, Inc. -a 2.9572 -30.34% -10.92% -7.32% -29.74% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.7222 -27.18% -10.14% -6.32% -27.84% United Fund, Inc. -a 2.7032 -26.33% -7.94% -5.17% -26.01% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 84.4278 -26.9% -9.51% -5.59% -27.81% ATRAM AsiaPlus Equity Fund, Inc. -b $0.9114 -4.12% -1.78% -3.35% -11.38% Sun Life Prosperity World Voyager Fund, Inc. -a $1.2986 3.28% 4.65% n.a.

-5.81% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.503 -11.29% -5.29% -4.93% -3.83% ATRAM Philippine Balanced Fund, Inc. -a 1.9607 -13.84% -5.74% -3.68% -10.1% First Metro Save and Learn Balanced Fund Inc. -a 2.3308 -10.47% -3.3% -4.54% -11.43% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1821 n.a. n.a. n.a.

-20.31% NCM Mutual Fund of the Phils., Inc. -a 1.7851 -6.41% -1.95% -1.66% -9.07% PAMI Horizon Fund, Inc. -a 3.3127 -9.09% -3.62% -3.18% -12.57% Philam Fund, Inc. -a 14.8152 -9.9% -3.81% -3.27% -12.65% Solidaritas Fund, Inc. -a 1.8389 -13.26% -4.86% -3.06% -13.5% -5.88% -4.33% -19.05% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.1278 -17.91% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.8968 -9.2% n.a. n.a. -11.71% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.786 -19.94% n.a. n.a. -21.12% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.7624 -22.16% n.a. n.a. -23.24% Sun Life Prosperity Dynamic Fund, Inc. -a 0.7698 -21.12% -7.01% -5.88% -21.03% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03814 4.52% 2.32% 1.47% -0.24% PAMI Asia Balanced Fund, Inc. -b $0.9462 -0.54% -0.29% -1.54% -8.84% 3.23% 2.07% -5.51% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $3.6953 1.21% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.0787 0.06% 1.41% n.a.

-4.44% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 363.35 4.19% 3.02% 2.47% 1.55% ATRAM Corporate Bond Fund, Inc. -a 1.9335 2.49% 1.04% -0.15% 1.66% Cocolife Fixed Income Fund, Inc. -a 3.176 4.74% 5.14% 5.11% 1.92% Ekklesia Mutual Fund Inc. -a 2.2751 4.98% 2.86% 2.2% 2.25% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4253 6.99% 3.12% 1.83% 2.81% Philam Bond Fund, Inc. -a 4.5191 11.14% 3.87% 2.24% 3.34% Philam Managed Income Fund, Inc. -a,6 1.2815 6.61% 3.73% 2.02% 1.97% Philequity Peso Bond Fund, Inc. -a

3.8928 7.35% 3.87% 2.03% 2.76% Soldivo Bond Fund, Inc. -a 1.0218 10.86% 3.54% 1.57% 5.96% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1356 8.13% 4.65% 2.81% 1.94% Sun Life Prosperity GS Fund, Inc. -a

1.7302 7.62% 4.1% 2.34% 1.71% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $470.5 3.28% 2.38% 2.49% 0.49% ALFM Euro Bond Fund, Inc. -a Є214.42 -0.75% 0.56% 0.73% -2.42% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2078 3.18% 2.55% 2.24% 0.05% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0259 2.37% 1.32% 1.12% 0.39% PAMI Global Bond Fund, Inc -b $1.0589 -0.94% -0.49% -0.36% -3.31% Philam Dollar Bond Fund, Inc. -a $2.4135 5.83% 2.93% 2.55% 0.4% Philequity Dollar Income Fund Inc. -a $0.0599545 2.45% 1.66% 1.54% -0.6% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1739 6.09% 2.19% 2.09% -0.04% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 127.64 3.8% 3.14% 2.37% 1.48% First Metro Save and Learn Money Market Fund, Inc. -a 1.0387 2.68% n.a. n.a.

1.21% Sun Life Prosperity Money Market Fund, Inc. -a 1.2797 3.29% 3.02% 2.55% 1.19% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0424 1.64% n.a. n.a.

0.5% Feeder Fund Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $0.91 n.a. n.a. n.a.

-8.08% 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."

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Banking&Finance BusinessMirror

Despite higher taxes, alcohol shipments to PHL seen rising

By Jasper Emmanuel Y. Arcalas @jearcalas

E

xporters see alcoholic product shipments to the Philippines rising by as much as 10 percent annually despite higher excise taxes that put imported spirits at a pricedisadvantage against locally produced liquor, a Global Agricultural Information Network (Gain) report said.

The Gain report said American traders are “optimistic” their sales of alcoholic product to the Philippines will grow 5 percent to 10 percent each year despite higher taxes.

The US exported a combined volume of nearly 4.8 million liters of beer, distilled spirits and wine to the Philippines in 2018, according to the report.

Of the total volume, US shipped 242,000 liters of beer, 352,000 liters of distilled spirits, primarily whiskies and 4.2 million liters of wine. The report added that the US is the third top supplier of alcohol products to the Philippines with a 9-percent market share.

“The country’s strong economic growth, consumer demographics and widespread acceptance of American products create an extraordinary profile that makes the Philippines an exciting market for US alcohol products,” the report read.

Citing Euromonitor International data, the report said Filipinos consumed 3.1 billion liters of alcohol products in 2018, about 76 percent of which or 2.3 billion liters were beer.

Filipinos consumed about 723 million liters of distilled spirits and 22.1 million liters of wine in 2018, according to the report.

“Consumption has been growing at an average rate of 10 percent annually,” the report read.

Based on Republic Act 1147, the ad valorem tax on distilled spirits was increased to 22 percent of the net retail price plus specific annual taxes starting this year from P40 per proof liter to P66 per proof liter by 2024.

The specific tax will also increase by 6 percent annually starting 2025.

“The ad valorem tax puts imported alcohol products at a price disadvantage compared to alcohol products made from locally sourced ingredients,” the report read. The law levies a P50 per liter tax on wines, except for fortified wine containing more than 25 percent alcohol by volume which shall be taxed as distilled spirits. The tax will increase by 6 percent annually starting next year.

“More sparkling wines are expected to enter the market boosted by the lower excise tax,” the Gain report read.

The report noted that the specific tax on other fermented liquor, such as beer, was raised to P35 per liter this year and will increase by P2 per liter annually until it reaches P43 in 2024. Likewise, the tax on these alcoholic products will increase by 6 percent annually starting 2025.

The Gain report noted that the Philippines is the largest market in Southeast Asia for US high-value food and beverage products.

Govt eyes tax on potato chips and fast-food meals

S

Using data on gross revenues of manufacturers of snack products and fast-food chains, the government think tank said the proposed excise tax rates of 10 percent, 15 percent and 20 percent can give the government an average annual estimated excise-tax collection of P36.5 billion, P54.7 billion and P73 billion, respectively.

In its tax research journal Feasibility of Imposing a Junk Food Tax in the Philippines, the NTRC concluded that “the higher the tax rate, the higher the revenue that will

Cloud transformation and resilience

O

The landscape as we see it

Historically, information technology (IT) has been responsible for infrastructure provisioning and, before the cloud, was primarily focused on the challenges on the ground (pun intended).

The security team is charged with scanning that infrastructure for vulnerabilities, but they often don’t know what to scan because there often is a disconnect with IT on an updated threat list.

Managing infrastructure and the related assets has always been demanding, but in the cloud, where everything is faster and more ephemeral, getting security involved early and hardcoded into the provisioning plan is a challenge many companies are struggling with.

In terms of the cloud, across multiple industries, the Ciso’s organization is largely not prepared to enable the business, neither in terms of skills nor talent. In the cloud, the priority is information protection. What we’re finding more and more is that the way data is being deployed in the cloud is often not necessarily resilient.

We’re not simply talking about multiple availability zones but the ability to recover critical assets if there’s a major breach.

At many companies, we’re seeing two camps that seemingly operate at opposite ends of the security spectrum. On one side are the old-school practitioners who have been working in security architecture for 20 years or more, but haven’t fully adapted to life in the cloud.

On the other you’ve got cutting-edge security professionals who are all in on today’s technology and are trying to promote and enable the cloud mindset so security can be embedded by design and at scale. Getting these factions on the same page is a priority.

What we believe you should do about it

Become a learning organization: the thing that attracts cloud talent, beyond

By Bernadette D. Nicolas

@BNicolasBM

tate-run National Tax Research Center (NTRC) is pushing for the imposition of a 10-percent to 20-percent excise tax on junk food, which could result in an average of P36.5 billion to P73 billion in annual government revenues and also discourage the consumption of unhealthy foods.

Perspectives

ne of the things many companies need to work on is aligning the Ciso’s organization with the rest of the enterprise regarding the maturation and efficacy of the cloud.

The business may say “We’re going to do x, y and z in the cloud over the next 18 months.” Meanwhile, down the hall, the chief information security officer (Ciso) and his or her team are developing processes and tooling that are vital to, but may not necessarily be aligned with, the business drivers and the technology needed to support the desired business outcomes.

That’s got to change.

Monday, May 25, 2020 B3

money, is culture.

Prospective employees need to know they’re not walking into a classic, hyperrisk-averse, slow-moving organization.

You will attract strong cloud talent by creating a culture that’s open to innovation and experimentation.

Similarly, think small, but act fast.

Send the message that you build things fast, break things faster and then rebuild based on what you’ve learned. Security can enable success through incremental steps.

For example, go live with a new container protection strategy in small bites, and enable the business to move fast.

Shift left and push controls as early into your software testing cycle as possible in an effort to deliver maximum value to both customers and users.

Apply security—again, in small bites—as far left in the process as possible, which typically involves infrastructure as code. Make it happen by empowering developers to hard code the required security measures without the security team’s involvement, which the cloud can facilitate.

Have an appreciation of the underlying code—the ability to read and write code will earn the respect of DevOps (development and operations) engineers. And seize the opportunity to really understand where you should embed yourself.

Increasingly, that’s what we’re going to see from security professionals—the ability to code because, more and more, we’re moving away from that traditional security architecture role of measuring diagrams and handing it over to a solution designer or solution architect to then build a solution, which then goes to an engineer to stand up physical infrastructure.

Work to understand—and communicate to the entire enterprise—the connection between business enablement, business resilience and information protection. It’s not much of a departure from how you would do it on premises, but it’s a little bit different when you’ve got critical data across regions in the cloud.

Making this part of your DNA will enable you to weed out the “noise” from an operations perspective so you can focus on the bigger security priorities.

The excerpt was taken from KPMG article “All hands on deck: Key cyber security considerations for 2020.” © 2020 R.G. Manabat & Co., a Philippine partnership and a member-firm of the KPMG network of independent member-firms affiliated with KPMG International Cooperative, a Swiss entity. All rights reserved. Printed in the Philippines.

For more information on KPMG in the Philippines, you may visit www.kpmg.com.ph.

be derived.”

“Similarly, the higher the tax rate to be imposed, the higher the increase in product price,” NTRC said adding that higher prices will then lead to limiting consumption of junk food.

Citing information from previous researches, NTRC said the suggested tax rates on healthy foods and drinks often focus on rates that average about 10 percent to 20 percent of a product cost.

Moreover, the NTRC said that the rate needs to be at least 20 percent for the tax

to have a significant impact on obesity and cardiovascular disease.

Aside from the tax rate, the NTRC also emphasized the importance of considering the type of tax that should be imposed, whether specific or ad valorem.

The think tank pointed out that specific taxes are easy to administer and generate predictable revenues but requires regular evaluation and adjustment so the collections could keep up with inflation.

Taxing snacks, according to the paper, could also prompt manufacturers to modify their products like lowering sodium content at a minimal just so these would not be covered by tax.

On the other hand, ad valorem excise taxes automatically adjust to inflation and have a larger impact on industry profits but they generate less predictable revenues. Under this scheme, manufacturers may cut their prices to maintain volume and generate wide gaps between cheap and expensive products. This setup, however, could encourage consumers to switch to cheaper products that could be just as harmful.

Besides taxing unhealthy foods, the NTRC also recommended subsidizing healthy foods, restricting food advertising and possibly eliminating advertisements on junk foods, candies, softdrinks,

fast-food meals and sugared cereal for children.

Providing more bicycle paths and recreational center to encourage physical activity can also be considered, the NTRC said.

The think tank’s recommendation of an imposition of a 10-percent to 20-percent excise tax rate on junk food is also higher than the 8-percent ad valorem excise tax being proposed by the economic team under its health “sin” tax proposal to raise revenues as the government increases its spending due to the Covid-19 pandemic.

Based on the copy of the presentation of Socioeconomic Planning Secretary Karl Chua to the House of Representatives obtained by the BusinessMirror, the proposed 8-percent ad valorem excise tax on junk food with high trans fatty acid and high sodium content would result in an additional revenue of P800 million in 2021, P900 million in 2022 and P1 billion in 2023.

Apart from this, the government is also looking at imposing a 6-percent indexation on sweetened beverage tax.

The sweetened beverage tax proposal is projected to give the government P2.9 billion in revenues in 2021, P6.4 billion in 2022 and P10.7 billion in 2021.

B4

Show BusinessMirror

Monday, May 25, 2020

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Michelle Aldana continues to remain hopeful michelle aldana and her family

Today’s Horoscope

By Eugenia Last

z

CELEBRITIES BORN ON THIS DAY: Aly Raisman, 26; Demetri Martin, 47; Octavia Spencer, 48; Mike Myers, 57.

Happy Birthday: Start a dialogue if you want to make progress this year. Gather information, and be the one to instigate what you want to happen. Show more discipline when it comes to working and finishing what you start. Truth matters, and how you handle people and situations will be reflected in the way others treat you. Charm alone will get you only so far. Your lucky numbers are 4, 12, 25, 29, 36, 44, 48.

a

ARIES (March 21-April 19): Pressure is mounting, and decisions will have to be put in place. Don’t trust outside information or an empty promise. Keep your dealings simple, a budget in place and what’s important to you at the top of your to-do list. HH

B

EAUTY queen-turned-actress Michelle Aldana told us in a recent conversation that she thinks a lot about the Philippines, especially with the current situation the world is facing. “You cannot help but think of your loved ones, what situation they are in, how they are protecting themselves, how they are coping,” she shared.

Aldana has been based in South Africa for many years now, raising her family and running her small business. She also takes on acting jobs for television if a wonderful role comes along.

Earlier this month, Aldana’s character Mei Yang took her bow in the popular South African drama series, Generations, The Legacy. She is proud of being part of this most-watched soap opera about life and the aspirations of people in the advertising world. “I am the first Asian in the supporting cast of this series, and I’m just grateful that I was given this opportunity to continue doing what I used to do in the Philippines, something I cherish up to now, and something that gave me many beautiful memories.”

About a week ago, Aldana took to her social-media account and posted a clip from her very first film job, the Fernando Poe Jr.-starrer Hindi Pa Tapos ang Laban. “I recall that it was right after my reign as Miss Asia Pacific when the offer came in. Who’d say no to the late film icon Fernando Poe Jr. for an introductory role? I miss acting for films, I hope that when this current situation we are all battling has improved and some sense of normalcy has come back, I’d be given the chance to do a movie here in South Africa, or fly back to the Philippines and take on a good comeback role.”

Perhaps the movie Aldana is well-known for is Tikoy Aguiluz’s Segurista, where she made the critics

b

TAURUS (April 20-May 20): Be open about what you want to happen, and be willing to compromise and put up with the changes someone wants in order to make your plans acceptable. Follow your heart, and be prepared to make compensations to get what you want. HHHH

c

GEMINI (May 21-June 20): Pick up the pace.

The more you do, the better the outcome. Idle time will lead to a problem with someone close to you. Work with what you’ve got, and avoid going over budget. Don’t fall for someone’s jargon. HHH

d

take notice of her acting skills. Aldana played the lead role of an insurance agent by day and an escort service lady by night, and the film catapulted her to being recognized as an actress.

For now, Aldana is aware that this wish for a film comeback has to take a back seat. “I’m in no hurry. I believe things will manifest when the time is ripe. The universe opens a lot of doors even if we sometimes feel that paths seem unclear. We just have to trust the flow and the process.”

Aldana spends a lot of her lockdown time at home, trying to find creative outlets like cooking for her husband Edward and their daughters Kai and Io. Her eldest son Dustin, now 19, is in Germany waiting for university to reopen. “We miss him but technology nowadays allows us to be in touch with those who are far away. He is a responsible young man and I trust that he is taking care of himself.”

She told us that she is also into meditation and yoga. “I turn to visualization whenever my thoughts are overwhelmed with emotions. I practice some breathing techniques that allow me to calm down

and relax.”

Aldana added, “Isolation and being locked down can be really depressing to a lot of people. We need to combat this by engaging both mind and body in different ways, channeling our energies somewhere else. It could be as simple as rearranging our furniture or cleaning the closet, calling up a friend, or reading a book. Yoga is my go-to activity. I can practice it by myself, anytime and anywhere.”

Traveling is one thing that gives Aldana joy, and she is positive that soon, she will be able to travel again. “Going on a travel adventure with those you love is priceless. For now, the world seems to have put a pause on traveling but I know in my heart we will all be able to do it again, to see beautiful places, to learn about different cultures, to visit loved ones and reconnect with family and friends. I just hope things will go back to normal soon because I’m just a little worried that not all loved ones will be there when we have the liberty again to go and visit them.”

Still, Michelle Aldana remains hopeful. And so should we. n

GMA stars provide relief via ‘Bayanihan Musikahan’ THROUGH music and its talented artists, GMA continues to rally support for those who are affected by the Covid-19 pandemic.

Various stars of the network have taken part in Bayanihan Musikahan, the online fundraising concert series initiated by National Artist for Music Ryan Cayabyab, which has given aid to thousands of homeless families, patients and medical personnel, as well as music production staff financially displaced by the pandemic.

On May 19, GMA Music artists Ken Chan and Rita Daniela joined the Facebook live concert. On May 21, 8 pm, reallife couple Dennis Trillo and Jennylyn Mercado showcased emotional musical numbers, followed by Rhian Ramos and Lovi Poe at 9 pm, with Rhian showing off her entertaining VJ skills as Lovi performed a series of popular songs. Last Friday, Tom Rodriguez and Manilyn Reynes joined the online fund-raising concert.

Meanwhile, the upcoming Huntahan

LANI MISALUCHA

CHRISTIAN BAUTISTA

Musikahan with Cayabyab on May 29 will be bannered by music powerhouse Julie Anne San Jose, internationally acclaimed Aicelle Santos, best-selling balladeer Christian Bautista, and music icon Lani Misalucha.

The live online concerts manifest an

uplifting way for Kapuso artists to provide aid from the other side of the screen. As they continue to raise funds for those in need, they also bring Filipinos together as one in generosity and hope that the country will soon win the fight against this pandemic.

CANCER (June 21-July 22): Channel your emotions into something constructive. The less time you have to worry about what everyone is doing, the easier it will be for you to accomplish what you set out to do. Use your energy creatively, and avoid an argument. HHH

e

LEO (July 23-Aug. 22): A change will catch you by surprise. You’ll need to do some fancy footwork if you intend to stay on schedule and outmaneuver anyone who is trying to sabotage your plans. Don’t rely on others to do things for you. HHH

f

VIRGO (Aug. 23-Sept. 22): A decision that can affect your reputation, status or position will require attention. Be open to change, but don’t give in to bribery or temptation. Set a goal, and verify facts before you take action. HHHH

g

LIBRA (Sept. 23-Oct. 22): Learn all you can.

Sign up for a correspondence course, or gather data that will give you informative insight into something you want to pursue. Set up a video conference with an expert, and it will influence the way you move forward. HH

h

SCORPIO (Oct. 23-Nov. 21): Expand your horizons through research and checking into complex ways to use your attributes, talents and skills to help you advance. Rearrange your workspace to suit your needs and to ensure that your productivity is optimal. Start a creative project. HHHHH

i As of writing, the Bayanihan Musikahan concert series has raised over P75 million, which has provided hot meals to 439 homeless individuals temporarily housed in seven colleges and universities, 175 patients and medical personnel of the Quezon City barangay quarantine center, HOPE 2, and Evacuation/Covid Center of Manila’s Del Pan District. Moreover, 91,855 food packs have been delivered to urban poor communities within the National Capital Region, Bulacan, Rizal, Cavite, Laguna, Batangas, as well as Cebu City, and to indigenous communities on Polillo Island (Dumagat) and Sultan Kudarat (Teduray).

It has also provided cash assistance to 337 live music events production staff who are currently unemployed due to the community quarantine.

For donation links, visit www.facebook. com/bayanihanmusikahan. The Bayanihan Musikahan live sessions can be seen on GMA’s official Facebook page.

SAGITTARIUS (Nov. 22-Dec. 21): A proposal will interest you, but before you jump for joy, check out the source of information and verify the facts and figures. Someone will exaggerate a situation to coax you to take part. Be smart and stay safe. HHH

j

CAPRICORN (Dec. 22-Jan. 19): You’ll feel stretched if you don’t balance your day fairly.

What’s happening in your personal life will need as much attention as your peers and colleagues. Do your best to adjust as you go along. Don’t leave anyone out of the loop. HHH

k

AQUARIUS (Jan. 20-Feb. 18): Put more trust in yourself. Don’t let someone beat you at your own game. Set a goal, and proceed with the intent to finish what you start and to reap the rewards. Physical and mental pursuits will boost your ego.HHH

l

PISCES (Feb. 19-March 20): A direct approach will help you flesh out any unforeseen problems that could hold you back. Problems at home will surface if you aren’t honest about the way you feel. HHHHH Birthday Baby: You are compassionate, friendly and imaginative.

You are ambiguous and sensitive.

‘i before e?’ by priyanka sethy and matthew stock The Universal Crossword/Edited by David Steinberg

ACROSS 1 Joy Harjo or Maya Angelou works 6 “You ___?” (butler’s question) 10 What an analyst crunches 14 Ready to pour 15 Nike alternative 16 It’s a long story 17 Pilgrimage destination 18 Performs like 8-Down 19 This and that 20 Permanent marker for drawing a wrinkly dog?

23 ___ of Delphi 24 Cinderella event 25 Police alert, for short 28 Prefix with “friendly” or “warrior” 29 Designer bag initials 31 Yalie 33 With 44-Across, hard liquors at a Massachusetts college?

36 Ballpoint cover 38 Fake Twitter followers 39 $100 bill, in slang 41 James of jazz

2 City west of Montreal 4 44 See 33-Across 46 ___ Aviv 47 Love seat part 49 Barely manage, with “out” 50 LPs’ successors 51 Renaissance Faire quaff 53 Western Alaska natives 56 “Congratulations! You’ve successfully logged into your new iPhone!”?

60 French Quarter’s city, familiarly 61 Pixar clown fish 62 You may place one online 64 Shuttle at some airports 65 Flour amounts 66 “But it makes no ___!”

67 Paradoxical Greek 68 Church recess 69 Serpentine DOWN 1 Small dog, informally 2 Binary digits 3 Make an impression?

4 East Asian gambling locale 5 Exchanged punches 6 1943 copper penny, e.g.

7 Be of use 8 Late hip-hop star ___ Hussle 9 Nasty cut 10 Three-time Oscar nominee Winger 11 Hopping mad 12 Excited, in a sense 13 Feeling after a workout 21 Indy 500 safety vehicle 22 Up to the task 25 Monastery head 26 Latin phrase meaning “for now” 27 It’s drawn up in a war room 30 “I can’t hear you!”

32 “No bid,” in bridge 34 Hush-hush grp.

35 Cry and cry 37 Nancy Drew’s boyfriend 40 Environmentalist’s favorite asana?

43 Flamingos do it 45 Figure in red 48 Fabricated

2 Memorable Texas mission 5 54 End table fixtures 55 Police car’s warning 56 Film released shortly before A Bug’s Life 57 Early Cuzco resident 58 The Incredibles designer Mode 59 You may work hard at it 63 Marina del ___ Solution to Friday’s puzzle:

Style

BusinessMirror

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EVER Bilena Blush Rush

ACE YOUR MAKEUP SKILLS DURING QUARANTINE LIFE in lockdown has given us plenty of opportunities to master new skills. If you’re eager to learn but don’t know where to start, why not take a page from Ever Bilena, a popular cosmetics brand, and follow their makeup tips and techniques so you can come out looking young and fresh post-lockdown.

While you can’t get that bronzed skin from an excursion to the beach this summer, you can still achieve a natural flush with the EB Blush Rush or the EB Matte Color Sticks. The EB Blush Rush has a watery-gel consistency with a roll-on applicator, while the EB Matte Color Stick is creamy matte in consistency, making both products easy to blend on your cheeks, eyes and lips.

For a sun-kissed glow, strategically apply on points of the face where the sun hits most, such as the cheeks, nose and a little above the brows. Blend with your ring finger (remember to thoroughly wash your hands regularly and before applying makeup) to work the product naturally into the skin.

Upgrade the look by adding faux freckles using brown eyeliner. Before doing so, set your tint with powder then dot your nose and cheeks with the eyeliner. With your ring finger, tap over the top to blend and make it look more natural.

Eye makeup can be intimidating or overwhelming, especially for beginners. But the great thing about makeup is it allows you to have fun and experiment with different looks. A great product to start with is Ever Bilena’s Chocolate Palette with its basic shades.

Apply a medium shade brown all over the lid and lower lash line.

With your pinkie, press into the lightest color in the palette and apply on to the inner corners to open up the eyes. Take your look from daytime to nighttime by patting on the darkest shade of brown on the outer crease of the eyes and then blend.

These Ever Bilena products are available on the brand’s official page on Lazada (www.lazada.com.ph).

BY ANDREA FELSTED Bloomberg News

OME weeks ago, the American retailer J.Crew Group Inc. filed for bankruptcy after it fell out of fashion. But there’s one item from the once-feted store that shoppers just can’t get enough of: masks. The most recent batch of nonmedical face coverings in its signature fabrics—plain blue shirting and blue-and-white stripes—has sold out on its British web site.

Upmarket, stylish face coverings could provide a bit of a boost in a coronavirus-strewn landscape, where luxury goods sales are expected to drop as much as 35 percent this year, according to Bain & Co. estimates. To give some idea of the pent-up demand, fashion search platform Lyst said searches for masks are up 1,600 percent over the past month, compared with the year earlier.

That’s sparked a huge debate in the luxury industry as to whether to cash in. After all, if we’re going to have to wear masks anyway, why not make them chic? It may be tempting. At the height of the crisis, many fashion houses, including LVMH’s Louis Vuitton and Christian Dior, Kering SA’s Gucci, Prada SpA, Burberry Group Plc and Ralph Lauren Inc., repurposed some production facilities to make personal protective equipment for donation to medical workers on the front lines. Burberry is poised to take delivery of a special mask-making machine at its mill in Keighley, Yorkshire. But the items will be for donation, not for sale in its shops. And they certainly won’t be made out of its iconic red, white, black and tan check.

While the brands have gained the requisite skills, there are considerable risks associated with turning masks into fashion statements. So far, the bling behemoths are wisely keeping a respectable social distance. If luxury goods companies were to make masks for profit, not only would they need to look stylish, they would probably have to boast some health effectiveness too.

And they’d have to be expensive to fit with any luxury brand’s high-end prices. For example, a Louis Vuitton monogrammed mink-fur sleep mask— perfect for catching some shuteye on that first-class flight—costs £700 ($859).

The danger is that luxury groups would be seen as profiteering from a health-care emergency. What’s more, according to consultants at McKinsey & Co., consumers shift to more subtle “silent luxury,” rather than in-your-face bling, after a large-scale crisis with a heavy emotional toll. What is perceived as unethical behavior—or simply ugly consumerism—could turn off customers, especially younger shoppers who are particularly conscious of brands’ social values.

One way to get around this would be to give a percentage of the profits to good causes, or to donate one mask for every one sold. J.Crew has donated 75,000 single-use masks to Montefiore Health System hospitals in New York.

Even if the pitfalls around profiteering are surmounted, there are other perils. Luxury is

about feeling good. Brands must weigh whether they want to be associated with a pandemic and its huge human and economic toll.

And although masks can have replaceable filters that extend their use, it’s unlikely people will hold onto them for long. Being disposable is anathema to luxury goods, from Hermes handbags to Cartier watches, for which heritage is crucial.

That doesn’t mean face coverings won’t work for some brands. For example, Off-White, the streetwear label from DJ and designer Virgil Abloh, who is also the artistic director for Louis Vuitton’s menswear, has been producing masks for some time. Off-White’s $95 arrow-logo face mask was the most in-demand men’s fashion item in the first quarter, according to the Lyst index, which measures clothing and accessories searches on its own site, Google and other social media.

Streetwear masks, along with heavy boots and multi-pocket coats, are part of an apocalyptic look that began to emerge before Covid-19. Serving to partly conceal one’s identity and repel other urban hazards like pollution, masks are a good fit with younger, edgier brands, such as the aptly named Anti

Social Social Club. That’s not the case for traditional luxury.

Consequently, the big fashion houses would be better off focusing their attention on items that can be accessorized with masks, or adapting products to changing needs. Luxury resale site Vestiaire Collective saw a 45 percent increase in orders for scarves, including Hermes’s classic silks, in the last week of March, compared with the previous seven days, and demand has remained elevated.

Brands could experiment with supersized sun visors to ensure social distancing or extended collars that could double as face coverings.

As the world emerges from the pandemic, and things become less emotionally charged, consumers may give luxury brands more permission to sell them protective clothing. For now, any move to do so will likely be a one-off to grab attention on the catwalk or Instagram. The pop star Billie Eilish, for one, donned a Gucci custom double-Gemblazoned mask for the Grammy awards in January.

While Gucci’s decision not to commercialize the product means passing up millions of euros of sales, it’s the right call.

everyone is under a lot of pressure. But the service was excellent. I gave them the list of the products I wanted. It was a simple transaction. For some of the items on my list that weren’t available, I asked for alternatives and they gave it to me. The items were delivered to me in less than 24 hours and I paid the delivery person. I was asked beforehand if I needed change. The transaction was virtually contact-less and painless. There was no delivery fee for the first transaction because the amount I sent exceeded P2,000. I’m not sure if there is a delivery fee for orders amounting to lower than this.

You can also order online at www.watsons.com.ph or call select branches to have your orders delivered. For contact details of branches near you, you can check out this list at bit.ly/2YMTCT1.

Use your Watsons Card to earn points and get a chance to win a UV Care Deluxe Germ Terminator, Super Power UV Vacuum or Smart Robot UV Vacuum with a minimum purchase of P500 on select health items. The promo runs until

June 24. For updates, follow Watsons on Facebook and Instagram at @watsonsph.

Calling Watsons for delivery is the best ECQ discovery that I’ve made. I’ve always been conscious about my health. I’ve been taking vitamins and supplements regularly and while I was able to stock up before ECQ, it wasn’t enough.

So what vitamins should you take for your body to stay healthy? Normally, we should get all our nutrients from our diet but we know that’s not always possible.

Here’s a simple guide (this is not a complete list): ■ Vitamin C, a key antioxidant, promotes wound healing and iron absorption and improves immunity.

■ Vitamin B1 helps promote a healthy metabolism.

■ Vitamin B2 supports normal vision and helps maintain healthy skin.

■ Vitamin B3 helps metabolize energy and promotes normal growth.

■ Vitamin B5 helps energy metabolism and normalizes blood sugar levels.

■ Vitamin B6 is important in proper nerve function and the synthesis of red blood cells.

■ Vitamin B12 is important for metabolism.

■ Vitamin D helps the body absorb calcium.

■ Vitamin E is an antioxidant that helps the body form red blood cells.

■ Calcium is essential for bone and teeth health.

If you cannot stand to drink many capsules and tablets daily, find a good multivitamin that packs a punch. I was not a believer in drinking vitamins before but I’ve seen my mom drink several vitamins and supplements for years and at 81, she is still strong and healthy. So yes, that’s my goal—to be healthy always.

One of my best ECQ discoveries

TRUTHFULLY, one of the most difficult things about being quarantined is buying personal-care stuff like soap, shampoo and conditioner, tissue, body wash and deodorant. In the life we now call pre-ECQ, I would go to UP Town Center every week on my way home from work and visit Watsons to stock up.

It’s not just personal-care products. I get our family’s vitamins—Watsons Generics Ascorbic Acid and Conzace Soft Gel (the best multivitamin with zinc, vitamins A, C and E)—from Watsons. When my daughter was younger, I got her Growee Syrup or Cherifer PGM with Zinc capsules from them, too. My mom would always ask me to buy her Myra E 400IU, MX3 capsules and Strepsils.

Anyway, the ECQ has made me unable to go to Watsons and I have no EQ to go to the web site and order. I am not the person allowed to go out in my household and I certainly can’t ask my husband to buy my personal care items because he’d get the wrong things. There were many times when I wanted to get some products, vitamins and my mom’s regular medications but I couldn’t. I wanted the Sunglow

by Fresh Sun Mist, which was part of a collection

B5

Luxury trendspotting isn’t easy in the Covid-19 age

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EVER Bilena Chocolate Palette

Monday, May 25, 2020

released by vloggers Rei Germar and Mae Layug.

I also wanted Tender Care Soap and Nutrabliss

by Watsons Tea. I wanted supplements like MET Tathione, NU Essence Collagen, Organique Acai Juice and Watsons Generics Malunggay + Mangosteen.

We also needed Ascof Forte Syrup, Prosource Extra Virgin Coconut Oil, and Biogenic Ethyl Alcohol. I needed shampoo (Selsun Blue) and Watsons tissue.

OK, so there’s this long list of items that I wanted from Watsons and I didn’t know how to get them.

So a friend told me to call the Watsons branch near her place (she lives in Teacher’s Village) because they deliver. I sent a message and within minutes, they replied. They asked where I lived and gave me the number of Watsons Novaliches, which was nearest to me. I sent a message to Watsons Novaliches via Viber and they asked me for my name, delivery address and phone number. My expectations were very low at this point. It’s ECQ, after all, and

THE pop star Billie Eilish donned a Gucci custom double-Gemblazoned mask for the Grammy awards in January.

B6 Monday, May 25, 2020

Gordon thanks Honda Philippines for donating 104 motorcycles

For the Human Race: Coca-Cola helps inspire renewed hope for a better tomorrow

Frontliners receive their much-needed sustenance donated by organizations, thanks to Garcia’s service as a delivery rider. In Right Photo: Neil Delgado-Garcia, a delivery rider from Baguio, volunteers to bring vital goods, including food for frontliners, as his way of helping during these challenging times. He is only one of many who bring hope to others as we navigate through this crisis.

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HE human race is facing one of the biggest crises to happen this century; a health, social and economic calamity like we have rarely seen before. During this period, uncertainty and fear have gripped everyone—across nations, across faiths, and across cultures.

Yet, it is clear, that to navigate this crisis, one must keep an optimistic spirit. And to remember that while we are physically apart, we are also emotionally drawn together in this common fight, certain in the coming of a better tomorrow.

It is against this backdrop that CocaCola has launched “For the Human Race” a tribute to positivity, togetherness and the human spirit in these challenging times.

“The world today is in the midst of extraordinary and difficult times,” says Winn Everhart, Coca-Cola Philippines General Manager. “But we also acknowledge that this is a moment in which we need to come together and support each another anyway we can. This is a time for us to help uplift the spirit, bring needed encouragement, and inspire,” he said.

“For the Human Race” – a timely and powerful message and movement A celebration of everyone that brings light into these dark times, this message and movement is a tribute to the men and women that truly go beyond. This includes non-government organization (NGO) volunteers involved in providing aid and relief to the marginalized; essential service staff such as drivers, food delivery riders, and store workers who continue to serve their communities despite the risks; and countless individuals who, in their own meaningful ways, are touching lives and

inspiring others day-by-day.

We see exemplary people like Neil Delgado-Garcia from Baguio. Despite being a person with disability, he hops onto his motorcycle to make vital deliveries, including volunteering to deliver food to frontliners. “Wala namang makakatulong sa atin kung hindi tayu-tayo din,” says Garcia.

It was upon seeing a restaurant prepare church-donated food for frontliners that inspired him to reach out and volunteer as a delivery rider. As a further act of kindness, Garcia would set aside the tips he would collect to buy coffee for the soldiers and police stationed at the checkpoints.

Never letting his physical condition get in his way, his is an inspiring story of hope and an indomitable spirit against the odds.

“Parang hindi tulong yung binibigay mo— saya. Sobrang ganda sa pakiramdam ‘yun,” he adds.

Garcia tells his complete story in the CocaCola Philippines #ForTheHumanRace video.

Coca-Cola’s long-held belief in universal togetherness, positivity and hope is the foundation of the “For the Human Race” movement.

“We would like to express our heartfelt gratitude and appreciation to those who continue to keep us all safe through the crisis, particularly those people on the front lines,” Everhart says. “Every day, we are inspired and uplifted by countless acts of selflessness, kindness and courage from people across the Philippines and around the world. Please know that the good work you do serves to inspire us and that we are with you all the way in this fight.”

More stories of hope for the human race

will be shared in the Coca-Cola Philippines YouTube page.

Supporting the community and responding collectively to the COVID-19 crisis, Coca-Cola and their valued partners, including 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, have been supporting relief efforts since the start of the crisis in the Philippines. This includes the company’s initial Php 150 million donation that translated into providing personal protective equipment (PPEs), food packs, and beverages to medical workers and local communities.

To date, more than 50,000 medical workers have been provided with PPEs, critical protection they need in treating patients, a significant portion of which was coursed through the tireless efforts of UP Medical Foundation and the TOWNS Foundation.

Together with Caritas-Manila, Rise Against Hunger and PBSP, the distribution of food packs to 39,000 vulnerable families are ongoing, addressing the urgent need for nourishment and sustenance. Additionally, over 500,000 liters of beverages have been distributed to 125 public and private hospitals, 99 local government units, 53 national government agencies, and 50 non-government organisations and foundations.

Coca-Cola continues to coordinate with partners, medical facilities, and communities, and provide much-needed support.

Globe starts weekly rapid antibody testing of frontline employees

Globe, AC Health rapid antibody testing area inside The Globe Tower

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S the government eases up community quarantine restrictions, Globe Telecom has started the weekly rapid antibody testing of all its frontliners to ensure that both the workforce and stakeholders are protected from COVID-19 spread and infection.

At least 15% of the Company’s over 8,000 employees have been working in the frontline as critical skeletal force since the beginning of the Enhanced Community Quarantine in mid March and an additional 5% are returning to their posts as Globe starts reopening its Stores and fielding more personnel for network

build, expansion, and maintenance.

“The safety of our employees and the public are of paramount importance to us.

That is why we have decided to do mass testing of our frontline workers on a weekly basis using the rapid antibody testing kits.

If some sort of positivity appears in that particular test, then we are going to do a more extensive test, ” said Renato Jiao, Globe Chief Human Resource Officer.

Globe is working in close coordination with Ayala Healthcare Holdings, Inc. (AC Health) in screening its own employees and those of its service contractors. The test kits, which passed the high standards

set by AC Health, use a person’s blood sample to measure antibodies which are the body’s response in fighting an infection. Results can be released in half an hour.

The move is also in support of the efforts by Task Force T3 (Test, Trace, Treat) to ramp up testing operations and healthcare capacity in the country to save lives and livelihoods during the pandemic.

Task T3, which AC Health is part of, is a public-private partnership created to help the government locate, isolate and care for COVID19 carriers to keep communities safe and manage transmission of the virus.

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ENATOR Richard J. Gordon, chairman and CEO of the Philippine Red Cross, commended Honda Philippines for donating 104 units of motorcycles, adding that the donation would be very useful for the Red Cross’ COVID-19 operations, blood services and other humanitarian operations.

Gordon, accompanied by PRC Secretary General Elizabeth Zavalla and Assistant Secretary General Ramon Murillo, accepted the donation from Mr. Susumu Mitsuishi, president of Honda Philippines, Inc., and other company executives.

“We are very grateful to Honda Philippines for making this donation.

These motorcycles will be very useful in our humanitarian operations. We will use them

to deliver blood to those who need blood but cannot come to our blood banks to get them. We can also use them in our COVID operations to collect samples. When there are other disasters like earthquakes, they can be used to conduct rapid assessment of damaged areas. Maraming gamit ito kaya nagpapasalamat kami ng husto sa Honda,” he said.

For his part, Mitsuishi said they chose the Red Cross as recipient for the donation because they believe in the Red Cross, adding that they are always glad to partner with the humanitarian organization.

“We are always glad to donate to the Red Cross because we believe in it and because they really work,” he said.

Tiis-Pilipit: Mangyan tribesmen, tamaraw, threatened by hunger and disease

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HE old chief exhaled and the hut was enveloped in blue smoke. “I remember,” whispered Fausto Novelozo, chief of the Taw’buid tribe. “That a sickness drove us from the mountains. Measles we got from siganon or lowland visitors. Half our village of 200 died.”

The village of Tamisan Dos, is one of two newlyestablished Mangyan communities at the foothills of the Iglit-Baco Natural Park in the province of Mindoro Occidental. Measles drove Fausto’s people closer to town, where they can have better access to western medicine.

Most people don’t consider disease a major threat to biodiversity. But diseases ranging from Coronavirus to African Swine Fever and Ebola have spread worldwide, taking thousands of lives and causing billions in economic damage.

For the reclusive Taw’buid, death and disease are part of life, hindering them from protecting an animal they revere – the critically-endangered tamaraw (Bubalus mindorensis), only 600 of which remain today.

Living deep in forests, tribal communities are plagued not just by blood-sucking leeches, malarial mosquitoes and venomous snakes – but a lack of clean water, poor sanitation, poor nutrition and inadequate medical knowledge.

Malaria, tuberculosis, measles and other diseases have always taken a steady toll on Mindoro’s Mangyan population, estimated at 200,000. About 60% of Mangyan children are malnourished and almost all go hungry during the rainy season which lasts from June to October.

With torrential rains turning Mindoro’s streams into raging rivers, many cannot visit their upland ricefields and must hunt or gather whatever food they can.

“We call this period tiis-pilipit (to twist in hunger) and we must make do,” said Taw’buid gatherer Robar.

With limited healthcare access, tribesfolk have traditionally relied on medicinal plants to deal with cough, colds, fever, skin diseases, intestinal parasites, diarrhea and other common ailments. The Taw’buid for instance use bungarngar to treat stomachaches, pito-pito to relieve pain and salimbayong for healing open wounds. As of 1984, 128 medicinal plant species were identified and ate being used by various Mangyan tribes.

“Isolated communities are especially vulnerable to diseases from the outside world because immune responses have yet to be developed,” said medical anthropologist Gideon Lasco. “Limited access to healthcare and fear of hospitals also keeps them from seeking treatment.”

Taw’buid means ‘people from above’ and is among two names the tribe calls itself – the other being Batangan or ‘felled forest.’ Close to 20,000 inhabit Mindoro’s central highlands, making them the largest of the eight tribes

collectively called Mangyans by lowlanders – the others being the Alangan, Bangon, Buhid, Hanunuo, Iraya, Ratagnon and Tadyawan.

Many still sport loincloths called amakan, hunt game with spears called tulag, bows called gadun and spike traps called silo. Unlike other Mangyan who chew betel-nut, nearly all Taw'buid men smoke a combination of papaya and tobacco – children included.

Once occupying Mindoro’s lowlands, they were pushed into the mountains by both Spanish colonizers and Filipino immigrants. Their home forests too have retreated – with thousands of hectares converted into grazing land or rice paddies. As a people, the Taw’buid are peaceful, secretive and deeply animistic – careful not to rouse the anger of their gods including Alulaba, lord of rivers and waterways, or Mangyan Muyod, lord of the mountains.

Contact with the Taw’buid has been established through missionary groups and the Tamaraw Conservation Programme (TCP), which employs tribesmen as trackers and rangers.

For the Taw’buid, serving as a ranger is an honor and a stepping-stone to become a fufu-ama or tribal elder – making them natural allies to conserve the world’s most endangered buffalo. “We welcome them for their bushcraft and field skills,” shared TCP head Neil Anthony Del Mundo.

The Mounts Iglit-Baco Natural Park (MIBNP) spans 106,655 hectares. It is currently surrounded by 3000 cattle belonging to 30 ranchers.

Preventing Outbreaks, Together, TCP and MIBNP rangers work to ward off poachers, dismantle springloaded balatik and deadly silo snare traps while keeping disease outbreaks to a minimum – preventing cattle from intruding into the park and giving the park’s indigenous people medicine and employment so they can buy supplies.

To gather much-needed resources for this, BIOFIN is helping raise funds via donations. “A little help goes a long way. We ask fellow Pinoys to donate just a bit to save the Taw’buid, tamaraw and the rangers keeping everything working,” says BIOFIN Philippines project manager Anabelle Plantilla.

UNDP is preparing crowdfunding campaigns in the Philippines and other nations to keep these communities afloat – especially as government funds are being redirected to fight the growing pandemic.

Incepted in 2012, helping secure funds to implement sound biodiversity programs, BIOFIN’s second phase runs from 2018 to 2022. This includes the implementation of finance solutions to raise resources through creative crowdfunding.