BusinessMirror May 27, 2020

Foreign arrivals down 54% in Jan-April

By Ma. Stella F. Arnaldo Special to the BusinessMirror

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HE House of Representatives has raised the allocation for the tourism industry under its Philippine Economic Stimulus Act (Pesa), which is meant to assist economic sectors in recovering from the ill effects of the coronavirus disease (Covid-19).

This developed as the Department of Tourism (DOT) reported foreign arrivals down by over 54 percent to 1.32 million from January to April this year, as a result of the pandemic. Tourism receipts for the same period were also 56 percent less at P79.8 billion.

A MOTHER and her two children walk past a mural of John, Paul, George and Ringo at “Barangay Beatles,” officially Barangay 330, in Santa Cruz, Manila. Officials are still weighing the wisdom of allowing classes to reopen in August, with President Duterte saying he’d rather let children stay home till a Covid-19 vaccine is found. Story on A2. NONIE REYES

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In its final version for approval, the Lower House allocated P58 billion to support the DOT’s Tourism Response and Recovery Program (TRRP), which is substantially lower than the agency’s request of P71.62 billion.

Still, Tourism Secretary Bernadette Romulo-Puyat pressed for the quick passage of the bill to help tourism stakeholders recover faster and prepare the country to receive foreign tourists. “With the proposed stimulus package the Congress has earmarked for the tourism sector, we look to a foreseeable recovery from the industry’s massive losses. We are grateful to all our legislators for recognizing

the inputs of the tourism sector during the course of the crafting of the bill and for providing a substantial amount intended for tourism recovery,” she said in a news statement.

Under Section 20 of the Pesa, the DOT and attached agencies are instructed to assist DOT-accredited tourism enterprises through either of the following programs: interest-free loans or loan guarantees up to five years for maintenance and operating expenses; credit facilities for upgrading, rehabilitation, or modernization of current establishments to be compliant with new health and safety standards; marketing and product development promotions and

programs; grants for education, training, and advising for tourism stakeholders for new normal alternative livelihood programs; utilization of information technology for the improvement of tourism services, development of a tourist tracking system for emergency response, and establishment of spatial database to improve planning capacity; and any other relevant program, including infrastructure, necessary to mitigate the economic effects of Covid-19 on the tourism industry.

Credit facilities and loan guarantees shall be administered through government financial See “Arrivals,” A2

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ADB GIVES $400-M LOAN FOR PHL INFRA PROGRAM www.businessmirror.com.ph

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WORK ON FLAGSHIP PROJECTS RESUMING; JOBS FOR OFW EYED

WORKERS resume repair works on Elliptical Road at the Quezon Memorial Circle after months of suspension due to the coronavirus pandemic. NONOY LACZA

By Samuel P. Medenilla

A

A TRAILER truck overshoots a turn on Tuesday (May 26) and almost falls into a dike in the Araneta Avenue segment of the Skyway Stage 3, an elevated toll road connecting Buendia to Balintawak. It is one of the major infrastructure projects where work is resuming as lockdowns start easing. BERNARD TESTA

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By Cai U. Ordinario

HE Asian Development Bank (ADB) has approved a $400-million policy-based loan to finance the country’s Build, Build, Build (BBB) program.

In a statement on Tuesday, ADB said the loan will finance the Support to Capital Market-Generated Infrastructure Financing Program Subprogram 1, and will strengthen domestic capital markets and boost economic growth.

The loan will also support the country’s infrastructure program, touted as one of the major drivers of economic growth after the pandemic.

“By developing domestic capital markets, funds are generated to support higher levels of long-

SAEED: “By developing domestic capital markets, funds are generated to support higher levels of long-term investments and sustainable quality job creation.”

PESO EXCHANGE RATES n US 50.7400

term investments and sustainable quality job creation. The program approved today will support the Philippine government’s development goals, including its response to the Covid-19 pandemic,” ADB Vice President Ahmed M. Saeed said.

ADB said the government’s BBB infrastructure development program targets an increase in public spending on infrastructure toward 7 percent of gross domestic product by 2022, up from 5.5 percent in 2018 and an average of 2.8 percent in the last 30 years.

The new loan, ADB said, brings its total lending to the Philippines to $2.1 billion so far this year.

The ADB recently approved a $1.5-billion loan for the Covid-19 Active Response and Expenditure Support Program and $200 million in additional financing for the Social Protection Support Project.

In 2019 the Philippines was considered one of the largest borrowers of ADB, according to

the Manila-based multilateral development bank’s 2019 annual report.

In the report, the country’s total loans as of 2019 reached $10.2 billion, representing a 23.32-percent increase from the $8.27 billion posted in 2018. This has made the country the seventh-largest borrower of the ADB and the third-largest borrower in Southeast Asia.

In the past decade, the country’s loans from ADB have grown significantly. In 2010 the country’s total loans only amounted to $5.753 billion, meaning, the 2019 amount represents a 77.27-percent increase.

Total loans extended by ADB as of 2019 reached $166.939 billion. This is composed of loans outstanding at $114.389 billion; effective but undisbursed loans, $43.992 billion; not yet effective undisbursed loans, $5.653 billion; and loans not yet committed, $2.91 billion.

FTER several weeks of suspension due to community quarantine, the construction of seven of the government’s flagship infrastructure projects, including those under its Build, Build, Build (BBB) program, has finally resumed. And this time, the government is looking at them not just as growth drivers in the recovery from the Covid-19 pandemic, but also as possible jobs generators for displaced migrant workers.

In an online press briefing on Tuesday, Presidential spokesperson Harry Roque disclosed the reactivated construction of flagship infrastructure projects like the Skyway Stage 3; R1 Bridge Project; Tarlac-Pangasinan-La Union Expressway (TPLEx) extension; and the Subic Freeport Expressway.

Also now in the process of resuming work are the government BBB projects, including the NLEx-SLEx (North Luzon ExpresswaySouth Luzon Expressway) Connector Road, NLEx Harbor Link and the Cavite-Laguna Expressway.

“These are some of the flagship projects which have started construction again,” Roque said.

He noted they are still waiting for a more comprehensive list of ongoing BBB projects from the Department of Public Works and Highways (DPWH).

“DPWH still has no exact number of [all of the] projects which complied with the construction safety guidelines, including building shelter for their workers,” Roque said.

Economic recovery

ALL of the construction works nationwide, including those under the BBB program, were suspended by the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) in March as part of the government efforts to contain the spread of the novel coronavirus disease (Covid-19).

However, earlier this month, the IATF decided to allow the resumption of “essential and priority” construction projects as long as its contractors and subcontractors strictly comply with minimum health standards set by the DPWH.

The guidelines include ensuring social-distancing measures and providing construction workers with access to sleeping quarters, adequate food and drinking water within or near the worksite.

The government is banking on the BBB projects to “jump start” the country’s economy, which started to decline due to the January 12 Taal Volcano eruption, as well as the onset of the Covid-19 crisis in the first quarter of the year.

See “Work,” A2

n JAPAN 0.4710 n UK 61.8977 n HK 6.5435 n CHINA 7.1103 n SINGAPORE 35.6370 n AUSTRALIA 33.1789 n EU 55.2863 n SAUDI ARABIA 13.5091

Source: BSP (May 26, 2020)

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A2 Wednesday, May 27, 2020

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‘Flexible’ class opening mulled as Covid-19 tests school system S

By Butch Fernandez & Claudeth Mocon-Ciriaco

EN. Sherwin Gatchalian moved Tuesday to enact an enabling law providing for a flexible school opening date “beyond August” to be fixed by the Department of Education, an option triggered by the Covid-19 contagion that has shuttered schools since March.

Gatchalian, chairman of the Senate Committee on Basic Education, Arts and Culture, filed Senate Bill 1541, allowing the President to reset the start of the school year nationwide or in selected areas when a state of emergency is declared. It further provides that the date of the postponed class opening will be based on the recommendation of the Department of Education (DepEd) Secretary.

Gatchalian’s move came just as Health Secretary Francisco Duque III and President Duterte appeared to be issuing contrary positions on school reopening, with the DOH chief telling senators it’s “safe” to open classes by August 24, the date earlier set by the Department of Education, and Duterte saying there should be no class opening till a vaccine is found.

The DepEd secretary, Leonor M. Briones, however, had earlier stressed that the August 24 date did not mean physically opening all classrooms, especially since no vaccine for Covid-19 has been found. The DepEd is working with schools to shift the emphasis in teaching strategies from the classroom to distance learning.

“Pag-aaralan po namin maigi ito pero sa tingin po namin, ligtas

naman po kung bubuksan natin ang klase [We will study this very well but we think it might be safe to open classes] by August 24,” Duque said during the Senate Committee on Health and Demography hearing, chaired by Sen. Christopher “Bong” Go, on Tuesday.

Hours before Duque addressed senators, President Duterte said in a briefing at midnight that the class opening will not push through if there is no vaccine to protect the students against Covid-19.

Duque clarifies

DUQUE qualified his remarks by saying that, before classes open, “Ang kinakailangan po rito, siguraduhin lamang na ang lahat ng ating minimum standards for health ay nakatalaga [We just need to ensure that all minimum standards for health are in place].”

In a later statement to the media on Tuesday, Duque reiterated that the DOH prioritizes the safety of students and supports the call to suspend face-to-face classes.

“We can’t risk children going back [to school] until there is a vaccine,” he said, stressing that a vaccine is very important.

He vowed that the DOH together with Department of Educa-

A PICTURE of a student is seen on a tablet that is placed on a robot during an event they called “cyber-graduation” at a school in Taguig City, May 22, 2020. Robots were used to represent some 179 high-school students during an online graduation ceremony that was beamed live on Facebook to avoid mass gatherings as the school’s measure to prevent the spread of the new coronavirus. AP/AARON FAVILA

tion will explore alternative means to “modify classes for safe physical distancing.”

Gatchalian bill

GATCHALIAN’S bill seeks to amend Section 3 of Republic Act 7797, or “An Act to Lengthen the School Calendar from Two Hundred (200) Days to Not More Than Two Hundred Twenty (220) Class Days.”

Senate President Pro Tempore Ralph Recto weighed into the matter of class opening and said that “lockeddown schools should not lead to education being put in quarantine.”

Recto said on Tuesday morning: “Even though the President has expressed his views on the issue, this should not stop education

stakeholders from fine-tuning the ways which will allow our young to learn amidst the pandemic without making them sick.”

Recto added that “finding alternatives to face-to-face instruction is like answering a multiplechoice test. To be sick should not be one of them.”

He urged all concerned agencies to “find the mix that will allow the 30 million children of this country to continue with their education without putting them in harm’s way.

Let us see to it that even if schools are locked down, education is not placed in quarantine.”

This can be done, Recto said, “by customizing the alternatives— distance learning, TV or radio-

based instruction, home schooling, modular distance learning, online courses, ALS (Alternative Learning Systems), even radically reduced class sizes in zero-Covid zones— into one blend that will meet a learner’s socioeconomic profile.”

Gatchalian’s Senate Bill 1541 proposes to retain the DepEd secretary’s authority to end the school year while taking into consideration the Christmas and summer vacations, including the peculiar circumstances surrounding each region.

The DepEd secretary will also retain the authority to hold Saturday classes for elementary and secondary levels for both public and private schools.

SB 1541 was filed as the substitute bill consolidating related proposals filed by Senate President Vicente Sotto III with Sens. Joel Villanueva and Francis Tolentino.

Mandated by RA 7797, the opening of classes was set between the first Monday of June but not later than the last day of August.

This served as the basis for the DepEd’s decision to move the class opening to August 24 amid the persisting threat of Covid-19. The Inter-Agency Task Force for the Management of Emerging Infectious Diseases recommended moving the opening of classes to September, but approved this month the August 24 school opening.

Gatchalian pointed out that early enactment of the proposed remedial legislation before the opening of classes will give the DepEd more flexibility should the country’s public health situation and future calamities require further delays to class openings.

He stressed that what is at stake is the safety of the students, their parents, and approximately 900,000 teachers and personnel.

‘RJ’ Jacinto replaces Rio as DICT’s usec

By Lorenz S. Marasigan

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AMON P. JACINTO, a presidential adviser, has replaced resigned Department of Information and Communications Technology (DICT) Undersecretary for Operations Eliseo M. Rio Jr. He promised to focus on developing policies that will enable more Filipinos to be connected to the Internet.

In a text message, Jacinto, a known musician and businessman, confirmed his appointment and thanked President Duterte for his appointment. He said he will be putting premium on three key areas, namely, common towers, free Wi-Fi, and the national broadband backbone.

“I look forward to galvanizing and pushing reforms in the telecommunications industry in our country, particularly the Independent Common Tower Policy that the President tasked me to do as the Presidential Adviser. Also very

urgent is the implementation of the National Broadband Plan and free Wi-Fi projects of the government, especially at this time. Because of the Covid-19 crisis, the new normal will require connectivity throughout the country, especially in the rural areas,” he said.

Rio said last week that Duterte accepted his resignation. He submitted his resignation in February. Rio resigned due to two reasons: One is the availability of confidential funds for the ICT department, and two is his exclusion from the decisionmaking processes of the agency.

Jacinto used to be the presidential adviser for ICT. He was tasked to evaluate the prospects of common towers in order to boost connectivity in the Philippines.

This particular issue had him quarreling with Rio, as the latter wanted a more liberal policy to attract as many investors as possible.

Rio came out of retirement

RAMON P. JACINTO (left), presidential adviser on economic affairs and ICT, with then Department of Information and Communications Technology Undersecretary for Operations Eliseo M. Rio Jr. during a public consultation in 2018. DICT

when he was appointed as an undersecretary for the ICT department in 2016, when the agency was led by then-Secretary Rodolfo A. Salalima. When Salalima resigned,

Rio took the helm of the DICT as officer in charge.

Under Rio’s leadership, the government was able to award the third telco franchise to Dito Tele-

community Corp. Rio also led the department in deploying free Internet connection in public places.

He was also instrumental to concretizing the national broadband plan and has secured key contracts with Facebook for a twoterabyte backbone, as well as with the National Grid Corp. of the Philippines and the National Transmission Corp. for the use of their dark fiber for Internet connectivity.

Through Rio’s leadership, the department was able to craft Vision 2020, an overarching goal for ICT development that aims to develop the industry and bring forth digital innovations and services that will greatly improve the daily lives of Filipinos.

He also led the common towers and shared infrastructure initiatives, which are geared toward improving the physical infrastructure of telcos to provide better services to end-users.

‘Digital platforms spur shift to cashless’ Continued from A8

“The shift in customer behavior that we are seeing today may very well be the precursor to the digital tipping point,” Bautista said.

Moving forward, the UnionBank chief said that the bank could improve its digital transformation strategy through data analytics and artificial intelligence.

“With this, our data analytics team will be beefed up

with behavior science capabilities to enrich business actions within sight of customer behavior,” he said.

UnionBank, in relation to this, recently hired David Hardoon, former Monetary Authority of Singapore’s chief data officer and head of data analytics group, as its senior advisor for data and artificial intelligence.

Amid the pandemic, Bautista assured the public that the bank can withstand economic

pressure, noting that its nonperforming loan ratio remains low while capitalization is “more than adequate.”

“Your bank is entering this crisis with strong balance sheet and we are confident the bank can weather the effects of the crisis,” he said.

UnionBank saw its net profits surge by 22 percent to P2.6 billion in the first quarter on the back of robust revenue growth.

Three-month topline figures increased by 37 percent to P9.5

billion supported by net interest income which rose by 47 percent to P6.8 billion.

In the first three months, it earmarked P1.3 billion as loan loss buffer—up by over sevenfold from P174.6 million the previous year—to mitigate the adverse impact of the pandemic on its credit portfolio.

Shares in UnionBank ended flat at P53.70 each amid the 0.77-percent dip for the benchmark index on Tuesday.

Arrivals…

Continued from A1

institutions such as the Land Bank of the Philippines or Development Bank of the Philippines, according to the bill.

For its part, the Tourism Congress of the Philippines (TCP) likewise urged the swift passage of the bill. “The tourism stakeholders would like to express their sincerest gratitude to the House of Representatives for the allocations contained in the Pesa Bill specifically for our industry. Your support is very much needed as we do our best to revive the travel and tourism industry after the pandemic,” said TCP President Jose C. Clemente III. The tourism industry is the second-largest contributor to the national income, and accounted for 12.7 percent of gross domestic product in 2018. The industry also employed 5.4 million Filipinos that year, and recorded 8.26 million in international tourist arrivals in 2019, a new record high.

Under Pesa, the DOT is also instructed to “give preference to establishments requiring assistance for any activity that supports the 1) Balik Probinsya, Bagong Pag-asa Program under Executive Order 114; and 2) initiatives of the DOH (Department of Health) toward ensuring an adequate and responsive supply of health-care services.”

The bill provides that even if the tourism stakeholder has already availed himself of assistance under the DOT, it does not preclude him from availing himself of assistance from other government agencies which also has funds allocated for economic recovery.

The Pesa bill is principally sponsored by the Sub-Committee on Economic Stimulus and Response Package co-headed by Reps. Joey Sarte Salceda (Albay, 2nd District); Sharon S. Garin (AAMBIS-OWA), and Stella Luz-Quimbo (Marikina, 2nd District). House Committee on Tourism Chair Rep. Marisol Aragones-Sampelo (Laguna, 3rd District) and 234 other members of the Lower House are supporting the bill’s passage and have signed up as co-authors.

Romulo-Puyat underscored, “Through the stimulus package, the DOT hopes to carry out plans under the TRRP, including the continued assistance to tourists affected by the implementation of quarantine protocols, and capacity-building for tourism workers through re-skilling and up-skilling training programs.”

Likewise, the DOT shall continue its unprecedented development of infrastructure in tourist destinations, provision of training and capacity-building on tourism infrastructure planning, and implementation of measures that support needs of destinations and businesses in the “new normal” situation, which includes ensuring that airports, seaports and terminals comply with global safety and sanitation standards.

To regain confidence in tourism, the DOT also plans to offer incentives for affected tourists, intensely promote local or domestic travel among Filipinos, explore the use of IT innovations such as virtual tourism to sustain the country’s international presence and persuade travelers to come back to the Philippines, and develop new tourism products and tour packages that adjust to the situation.

Work…

Continued from A1

Employment opportunities

BBB projects are considered by the economic managers as among the key employment generators in the country due to their large scale.

Roque said the government is also eyeing to tap the thousands of overseas Filipino workers (OFWs) who were displaced by the Covid-19 pandemic to work in the BBB.

“Because our Build Build Build initiative will be continued by the government, we could have some sort of job fair especially targeting [displaced] OFWs,” Roque said.

The Department of Labor and Employment had previously attempted to recruit OFWs, especially those with construction-related skills, for the BBB projects. However, it noted few showed interest at that time since the local pay being offered to them is considerably lower compared to what they will earn abroad.

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Editor: Vittorio V. Vitug • Wednesday, May 27, 2020 A3

Covid or no Covid, anti-drugs drive to intensify, says PNP chief

By Rene Acosta @reneacostaBM

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HILIPPINE National Police chief Gen. Archie Gamboa on Tuesday said the government’s anti-illegal drugs operations will intensify even if the PNP is actively involved in Covid-19 response operations.

Gamboa issued the statement on the heels of the combined operations of the police and the Philippine Drug Enforcement Agency in Bohol on Monday wherein at least P27.2 million worth of shabu was seized.

The suspect, Jaime Dajao, 44, resident of Purok 2, Barangay Tanghaligi, Talibon, Bohol, was arrested by the operating team.

Gamboa said the campaign against illegal drugs will go hand in hand with

police operations against crime.

“Even with the ongoing health crisis, police anti-illegal drugs operations will continue without let-up and will be unrelenting as ever,” Gamboa said.

The PNP chief admitted the “new normal” poses some challenges to law-enforcement operations, but the PNP’s ongoing capacity-building initiatives provides the means to adapt and cope with the situation.

Meanwhile, number three man of the military hierarchy relinquished his post on Tuesday to assume his new position as the chief of the Armed Forces of the Philippines-Western Command (Westcom) based in Palawan.

Lt. Gen. Erickson Gloria left his post as the deputy chief of staff in order to take the helm of the Westcom, the military’s command in charge of

PRC creates special desk in call center for disease test follow ups

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O ensure that the public can easily obtain their Covid-19 test results, Sen. Richard J. Gordon, chairman of the Philippine Red Cross (PRC), has ordered the designation of PRC’s Covid-19 call center for follow ups on results.

Gordon said this is to ensure that the results will reach the person who was tested at the earliest possible time, noting that there were cases where the person who was tested did not receive the result at all. “’Dun sa aming Covid hot line 1158, maglalagay ako ng area diyan na pwede kayong tumawag, ive-verify

lang namin kung kayo ’yun, at sasabihin namin sa inyo kung positive kayo o negative kayo,” he said.

The PRC chairman said that after the caller’s name has been verified on the list, he or she could give a contact number and the e-mail address where the result could be sent.

“Puwedeng tumawag ang mga natest sa 1158 at hahanapin namin ang pangalan niyo dun, kung ibigay niyo e-mail niyo at cell-phone number, at pagkatapos papadala namin sa email niyo ang result na certified ng aming mga doktor sa Red Cross,” he said in an interview.

defending the West Philippine Sea. Lt. Gen. Antonio Ramon Lim, t he inspector genera l of t he Armed Forces of the Philippines, replaced Gloria in an acting and concurrent capacity.

Armed Forces Chief of Staff General Felimon Santos Jr. presided over the change of office held at Camp Aguinaldo on Tuesday.

“As the chief executor and adviser on matters pertaining to policy formulation and implementation, and command decision-making process through completed staff actions, the OTDCSAFP [Office of The Deputy Chief of Staff, AFP] plays a very important role in overseeing and ensuring that the different staff and services are working harmoniously towards the direction set by the AFP leadership,” Santos said.

A statement released by the

Contributor

@rodrik_28

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ORE than 4,000 tricycle drivers in Muntinlupa, whose livelihoods were affected by the coronavirus disease 2019 (Covid-19) pandemic, are now allowed to operate on condition that they adhere to sanitary measures amid the modified enhanced community quarantine (MECQ).

Muntinlupa Traffic Management Bureau (MTMB) chief Danidon Nolasco said the resumption of tricycle operations in the city starting May 25 is aimed at helping at least 4,174 three-wheel drivers who have renewed their permits.

He added that they can only transport frontliners, workers of industries allowed to operate during MECQ, and heads of households buying essential goods to limit people’s movement. An odd-even scheme will also be enforced and riders can only operate from 5 a.m. to 12 noon.

MTMB has already issued 2,761 official stickers and quarantine passes to members of 26 tricycle operators and drivers associations (TODA).

Nolasco reminded tricycle drivers of the ongoing ban in entrance to highways and national road, but not during health emergency cases. Also not allowed are crossover trips, except for Rizal St.

for the UH-1H and Bell 205.”

Gloria also qualified as a pilot of the Sikorsky S-76A. He logged more than 2,500 accident-free flight hours and was likewise awarded the Command Pilot Badge for his feat.

“Congratulations Erick on your new assignment as the new commander of Western Command!

Palawan will be your new responsibility but GHQ [general headquarters] will always be your home and OTDCSAFP will always be your family,” Santos said.

Gloria will assume his new position on Thursday, succeeding Vice Admiral Rene Medina, who will retire after more than 38 years in service.

Before heading the Western Command, Medina had commanded the Naval Forces Western Mindanao, the largest naval operating force of the Philippine Navy.

DOJ chief assures NBI probe into alleged ‘overpricing’ of virus machine by couple

By Joel R. San Juan @jrsanjuan1573

J

USTICE Secretary Menardo Guevarra on Tuesday said he would see to it that the National Bureau of Investigation (NBI) proceed with its investigation of the couple who offered the government overpriced medical equipment needed in the fight against Covid-19 outbreak.

President Duterte on Monday directly ordered the NBI to determine if there is basis to file criminal complaints against couple Van William and Emily Co.

4,174 tricycles now allowed to run in Munti under MECQ

By Roderick L. Abad

military through Capt. Jonathan Zata, public affairs office chief, said Gloria had previously served as the deputy chief of staff for personnel, J1; wing commander, 205th Tactical Helicopter Wing; deputy commander, Air Mobility Command and deputy commander, Air Logistics Command.

He had also served as squadron commander of the 5051st Search and Rescue Squadron based in Palawan; 5053rd Search and Rescue Squadron in General Santos City; and the 205th Tactical Helicopter Wing.

“Gloria is a tactical and rescue pilot and holds a command pilot rating in the Philippine Air Force,” Zata said.

“Early in his military career, he was awarded with different aircrew qualifications that range from pilot, element lead, flight commander, test pilot, and instructor pilot

(Poblacion) and Bautista (Bayanan).

Each tricycle is authorized to ferry only one passenger, with an exemption for emergency cases.

Each trip—because of limited passenger load—will be considered “special” with a fare of up to P25.

To avoid physical contact, a transparent plastic sheet barrier shall be installed in the three-wheel taxis. They must be disinfected at least twice a day, with alcohol-based sanitizers.

Face masks must be worn both by drivers and passengers at all times. Body temperature of the latter should be checked regularly and disinfecting facility with soap and water, or sanitizers, will be made available in local terminals.

Riders who violate the guidelines will be fined with P1,000 for first offense, P2,000 for second offense, and revocation of permit for third offense.

Muntinlupa Mayor Jaime Fresnedi has signed Executive Order 15, Series 2020 allowing the resumption of tricycle operations in the city during MECQ. The business continuation of TODA in the city is in line with the recommendation of MTMB and Omnibus Public Transportation Guidelines as approved by the Department of Transportation.

As of May 25, Muntinlupa has 207 confirmed cases with 144 recoveries, 32 active cases, 31 reported deaths, 36 suspect cases, and 192 probable cases.

“The President has given a direct order to the NBI last night [Monday night]. I will make sure that the order is implemented,” Guevarra said.

The Co couple are owners of Omnibus Bio-Medical Systems, a distributor of Sansure in the Philippines.

Budget Undersecretary Lloyd Lao explained that the couple wrote to the Department of Budget and Management and offered an automated extraction machine at P4 million, while another e-mail indicated that the equipment is priced at P4.35 million.

But Sen. Panfilo Lacson disclosed that the machine can be bought di-

rectly from Sansure at P1.75 million, triggering fresh calls for Health Secretary Francisco Duque III’s resignation from his post for allegedly mishandling the health crisis.

Lao said that the couple’s company did not win in the bidding as the government opted to buy from a Hong-Kong based corporation also distributing Sansure, “but they are complaining why are we not respecting their exclusive distributorship.”

The NBI was asked to determine if the couple may be held liable under the special law on Anti-Profiteering and the Bayanihan Act.

Camp Crame opens own RT-PCR testing facility for frontline cops

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HE Philippine National Police launched on Tuesday its first-ever Covid-19 Reverse TranscriptionPolymerase Chain Reaction (RT-PCR) testing facility accredited by the Department of Health (DOH) inside Camp Crame.

Officials led by PNP chief Gen. Archie Gamboa witnessed the ceremonial blessing of the PNP Crime Laboratory DOHaccredited Covid-19 RT-PCR facility at the DNA Building of the PNP Crime Laboratory inside the PNP’s national headquarters.

Gamboa said the testing facility will operate on a limited capacity for 150 confirmatory tests per day and can be increased through automated system in response to the emerging number of police frontliners who have been infected with Covid-19.

“We see it clearly, there is a need to have our own testing center as you can see that there are increasing trend of Covid-19 cases among our police frontliners every day,” he said.

The DOH give its nod for the testing

center’s operation last week.

Gamboa said the move to establish a full operational testing center was also prompted by the need to fast-track the results of each test of police personnel from the Research Institute for Tropical Medicine (RITM).

Aside from establishing the testing center, a mobile swabbing hub will be opened at the National Capital Region Police Office (NCRPO) in Taguig City.

About 13 personnel will be assigned at the new testing facility, consisting of seven personnel from the PNP Crime Laboratory, while six others are from the PNP Health Service.

Meanwhile, Health Service Director Brig. Gen. Herminio Tadeo Jr. reported that four more police personnel have been infected with the virus, bringing the total cases to 281 as of Tuesday.

Tadeo said about 117 police personnel have recovered from the infectious disease under strict observation of PNP doctors.

Rene Acosta

Subic firm faces raps for product ‘tampering’

By Henry Empeño

Correspondent

S

UBIC BAY FREEPORT—A trading company here is facing sanctions from the Subic Bay Metropolitan Authority (SBMA), aside from a criminal complaint from law enforcers, after it was caught “tampering” with the expiration dates of food products kept in its warehouse here.

SBMA Chairman and Administrator Wilma T. Eisma said Phil-Em Enterprise Inc., which is located at the Global Industrial Park in the Subic Bay Freeport, may lose its certificate of registration and tax exemption (CRTE) from the Subic agency, as well as its consent to sublease a warehouse, because of its violations.

According to a report from the SBMA Intelligence and Investigation Office (SBMA-IIO), elements of the National Bureau of Investigation and the SBMA-IIO raided the Phil-Em warehouse early Monday on the strength of a search warrant issued by the Regional Trial Court in Olongapo City.

During the operation, law-enforcement agents caught Phil-Em employees in the act of erasing the expiry dates on packs of Clover Chips and replacing the same with new dates using printing machines, said SBMA-IIO Officer in Charge Rodel del Rosario.

“It saddens me to know that some unscrupulous people are taking advantage of others especially in this time of a pandemic,” Eisma said on Tuesday.

“We will not tolerate any activity that violates the law and besmirches the solid reputation of the Subic Bay Freeport as the leading economic center…,” she added.

Del Rosario said the raid last Monday was conducted following a lengthy surveillance of the said company.

Subsequently, the operatives confiscated four Citronex printers with conveyors, 150 reams of label stickers, 50 reams of various printed label stickers, and two cans of eraser fluid.

The agents also seized several boxes of food items like Clover Chips, Ligo Sardines, Nissins Cup Noodles, Century Tuna, Milo Energy Drink, Sky Flakes Crackers, Star Margarine, Magnolia cheese, Royal and Fiesta pasta, Lily’s peanut butter, and food seasoning.

Among those who were arrested during the raid was Philip Velasco, reportedly a co-owner of the company.

Del Rosario said the search warrant was addressed to Velasco and another purported owner, Amanda Pathak.

Those arrested were brought to the NBI office in Olongapo for further investigation. The suspects will be charged with violation of RA 7394, or the Consumer Act of the Philippines, RA 9711 of the Food and Drugs Administration Act of 2009, and RA 10611 or the Food Safety Act of 2013.

Muslim lawmakers slam ‘inefficient’ government efforts to rebuild Marawi City

By Jovee Marie N. dela Cruz @joveemarie

M

USLIM lawmakers on Tuesday said rehabilitation efforts to rebuild destroyed Marawi City is still “plagued with inefficiency.”

House Committee on Muslim Affairs Chairman Ansaruddin Abdul Malik Alonto Adiong said the immediate approval of House Bill 3418, or the “Marawi Compensation Bill,” is needed to provide ease and support to people who have lost so much, from their homes and their sources of livelihood, three years after terrorists laid siege on the city.

The bill is still pending with the Committee on Disaster and Management under the Technical Working Group (TWG) chaired by Rep. Khalid Dimaporo.

“May 23, 2017 is the 3rd anniversary of the Marawi Siege. May 23, the day that completely took us by surprise and altered all aspects of our lives, then and now,” he said.

“Many lives were taken, homes destroyed and livelihoods halted, leaving us with only memories and wounds. Now it has been three years and for most of us, it still feels just like yesterday,” he added.

Adiong said the health emergency situation due to Covid-19

adds further strain to the people of Marawi City.

“As we continue to cope with our current situation, I hope we could still lend a hand or two and remain hopeful as we continue to call for and fight for the faster process of the recovery and rehabilitation of our beloved Marawi,” he said.

Change in leadership

MEANWHILE, Deputy Speaker and Basilan Rep. Mujiv Hataman strongly called for a revamp in the leadership and management of Task Force Bangon Marawi (TFBM), the inter-agency body tasked to

“It has been three years and still, the people of Marawi have yet to return to their homes. This is actionable negligence already on the part of TFBM.” — Hataman

implement the Marawi Recovery, Rehabilitation and Reconstruction Program (MRRRP), citing the delays in the reconstruction of the war-torn city.

“While the country fights the

Covid-19 pandemic, the people of Marawi suffer twice in this crisis as they continue to be plagued by an outbreak of government delay and inefficiency in the rehabilitation and reconstruction of their homes three years after the 2017 siege,” he said.

Hataman said that the TFBM, established on June 28, 2017, at the height of the armed conflict in Marawi, failed to effect much change during the three-year period that it was in charge of the implementation of the MRRRP. “It has been three years and still, the people of Marawi have yet to return to their homes. This

is actionable negligence already on the part of TFBM,” Hataman said.

“A destroyed Marawi should not be the new normal. Covid-19 or not. The rehabilitation must go on. Construction is one activity that is the least susceptible to Covid-19 infection. It is done outdoors and workers by their nature are physically distanced from each other,” he added.

At the same time, he also moved for the immediate resumption of the MRRRP so that the citizens of Marawi, some 17,000 of whom are still in temporary shelters, can go back to a life of normalcy.

A4 Wednesday, May 27, 2020 • Editor: Vittorio V. Vitug

Economy BusinessMirror

DTI chief presses swift passage of PESA as House panel okays FIST bill for banks

By Elijah Felice E. Rosales @alyasjah

& Jovee Marie N. Dela Cruz @joveemarie

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HE Department of Trade and Industr y (DTI) has called on law makers to legislate the proposed stimulus package in time for the expected lifting of quarantine restrictions since the measure will ensure that more than P600 billion is available to shore up the finances of troubled companies.

In a news statement, Trade Secretary Ramon M. Lopez said the DTI is seeking for the urgent approval of the Philippine Economic Stimulus Act (PESA) filed in Congress. He argued that the proposed law will secure sufficient funding once the state embarks on a rescue mission to save businesses adversely affected by the lockdown.

In the House of Representatives, meanwhile, lawmakers are now rushing to approve two economic measures to mitigate the impact of Covid-19 to businesses and the banking sector.

This after the House Defeat Covid-19 Committee (DCC) approved the proposed P1.3-trillion Philippine Economic Stimulus Act and the Financial Institutions Strategic Transfer (FIST) Bill.

Restart

HOUSE Majority Leader Martin Romualdez, co-chairman of the DCC, said these bills will now be transmitted to the plenary for another round of deliberations.

Romualdez said these proposals are both seeking to restart the economy severely affected by the Covid-19 pandemic.

“These measures are not the panacea to all our problems. But these pieces of legislation may be considered as the next step in our calibrated response to ease the suffering of our people,” the lawmaker said.

“We all know that these doleouts are not forever. We have to jump-start our economic activities, while keeping our people healthy, the soonest time possible to ensure our survival as a nation,” he added.

Timely passage

THE DTI chief declared: “We affirm the need to sustain the income of workers and businesses adversely impacted by the pandemic as we gradually reopen our economy.”

Passing the PESA bill the soonest will be timely, he added, as most of cities are expected to have their lockdown restrictions eased by end

of May. With funding in hand, Lopez explained that it will secure the sustained operations of private firms, as well as the continued employment of workers.

“By providing working capital assistance, technical and entrepreneurial education, and financial management, among others, we will be able to protect Filipinos by ensuring businesses will continue operating post-lockdown and help turn the tide for businesses and workers affected by the health crisis,” Lopez said.

The PESA bill seeks to earmark P1.3 trillion for the government to utilize post-lockdown efforts.

It aims to inject cash in various sectors to keep the economy afloat, inserting at least P650 billion for an expanded infrastructure program on health care, education and food security.

In particular, the PESA bill will allocate P300 billion for the National Emergency and Investment Corp. to be used to alleviate the damage of the coronavirus pandemic to the economy.

Further, it will set aside P200 billion for the wage subsidies and the grant of interest free loans to micro, small and medium enterprises. Also, P128 billion will be allotted by the measure for the credit mediation and restructuring guarantee fund, an expanded loan portfolio that will cover all critically impacted businesses nationwide.

All in all, the measure is filed to restore business confidence and operations, as well as to prevent f ir ms f rom shutting down operations due to losses incurred for the duration of the lockdown.

“Businesses have already lost a significant amount of income due to the challenges in logistics brought about by the ECQ [enhanced community quarantine],” the trade chief lamented.

“A s we work tow a rd s t he gradual lifting of the quarantine, more businesses will be able to operate, but at lower capacities due to limited capital resources that dwindled during the quarantine period. There are also strict health measures that are being imposed and the firms would need working capital loans,” he added.

Initial allocation breakdown

FOR h is pa r t, House Comm ittee on Ways a nd Mea ns C ha ir ma n a nd A lbay Rep. Joey S. Sa lced a, one of t he pr inc ipa l aut hors of t he proposed PESA , said this program is an employment protect ion st imu lus for

30 m i l l ion workers.

The proposed PESA includes:

P10 billion for massive testing this year and another P10 billion next year.

P110 billion this year for payroll expense subsidy, which requires employee retention to qualify for subsidy. This would include selfemployed, freelancers and overseas Filipino workers.

P30 billion for cash for work of the Department of Labor and Employment this year.

P15-billion assistance to students.

P50 billion for Small Business Corp.’s (SBCorp) existing loan programs for MSMEs this year and another P25 billion next year.

P50-billion program for SME and agro-fishery this year under the Land Bank of the Philippines (LBP) and the Development Bank of the Philippines’s (DBP) Interest-Free Loan Program.

P40 billion this year and another P20 billion next year as loan guarantee by Philippine Guarantee Corp.

P10 billion to DTI as additional assistance to MSMEs this year.

P58 billion to the Department of Tourism (DOT) as assistance to the tourism industry this year.

P44 billion this 2020 to the Board of Investments (BOI) for grants and technical assistance to business entities engaged in exporting, or importing, and those manufacturing new products and services to meet the needs of the domestic market, in order to restore, or identify new global market trends to increase competitive advantage.

P70 billion to the Department of Transportation (DOTr) as assistance to the transportation industry this year.

P56 billion as assistance to the country’s agro-fishery this 2020.

P25 billion this year and another P25 billion next year to National Development Company (NDC) to minimize permanent damage to the economy and enable faster recovery of certain critically impacted businesses.

Also, the proposed PESA will inc lude a n en ha nced “Bu i ld, Bui ld, Bui ld ” (BBB) prog ram worth P650 billion in three years starting 2021. The bill allocates P216.6 billion next year for the BBB program.

FIST

TO complement the proposed PESA, the House DCC also approved the Financial Institutions Strategic Transfer Bill (FIST).

House Committee on Banks and Financial Intermediaries Chair-

man Junie Cua said the FIST bill seeks to help banks and other financial institutions from the impact of the Covid-19.

“This bill actually is a program.

It is a proactive response of Congress to address the plight of the banking industry, an industry so important to our economic recovery in the light of this Covid pandemic,” he said.

“Now the concern of the banking industry is the inevitable increase on their nonperforming loans, or their nonperforming assets and this is inevitable because as everybody would expect because of the closing of businesses as a result of the enhanced community quarantine, there is an expected huge failure of these businesses to bid maturing obligations,” he added.

According to Cua, the banking sector must continue to provide credit since this sector “has to be liquid all the time to be able to meet the continuous flow of credit to the economy, the very lifeblood of economic activity.”

The FIST aims to help financial institutions in their bad debt resolution and management of their nonperforming assets (NPAs) in order to cushion the adverse impact of the pandemic on their financial operations.

To date, as a result of the pandemic and disruption of economic activities, Cua said most financial institutions are facing a period of delayed loan collections and are at risk of recording higher NPAs across all borrower segments.

NPAs consist of financial institutions’ nonperforming loans (NPLs) and real and other properties acquired (ROPAS) in settlement of loans and receivables.

According to Cua, NPAs prevent banks and financial institutions from effectively performing their crucial role of financial intermediation.

Citing the Bankers Association of the Philippines, Cua said simulation shows a potential increase in NPLs from an estimated 5 percent today to 20 percent or more in a matter of months.

The bill encourages financial Institutions to sell NPAs to asset management companies, created as Financial Institutions Strategic Transfer Corporations (FISTC), that specialize in the resolution of distressed assets.

‘Critical’

AS such, Lopez labeled it critical to pass the PESA bill on time, as this would give the government means to support firms and save the jobs of their workers.

www.businessmirror.com.ph

Govt begins payout for 2nd tranche of small biz subsidy

By Bernadette D. Nicolas @BNicolasBM

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HE government has finally started on Tuesday the payouts for the second tranche of Small Business Wage Subsidy (SBWS), a pushback from its original schedule of May 16 to 31.

But Finance Assistant Secretary and spokesman Tony Lambino told the BusinessMirror they have also moved the payment deadline to June 15 for the second tranche as they needed to make sure that there would be no duplication in payouts given that some beneficiaries under the SBWS program are also listed under the Covid-19 Adjustment Measures Program (CAMP) of Department of Labor and Employment (DOLE).

“On May 26, payouts for the second tranche of SBWS has started. DBP [Development Bank of the Philippines] has submitted the records of 249,000 employee-beneficiaries to the banks through PESONet and PayMaya for crediting in nominated accounts, and MLhuillier for cash pickup,” he said.

Lambino explained that they needed to match the SBWS and DOLE CAMP lists because SBWS beneficiaries who are also CAMP beneficiaries will receive P5,000 less for the second tranche in the interest of fairness among beneficiaries of both programs.

“Through amendments to Joint Memorandum Circular 001-2020 on the SBWS, the payout deadline was adjusted to June 15 for the second tranche, considering the CAMP data ‘deduplication’ process, and the correction of eligible employee payout details by employers,” he said.

For the first tranche of SBWS, Lambino said the payment deadline is on May 31.

According to the Joint Memorandum Circular 002-2020, which reflected the amendments to the previous

circular that stipulated the guidelines on the availment of SBWS, the first tranche of SBWS was supposed to be paid out from April 29 to May 15, while the second tranche shall be paid out from May 16 to May 31.

However,theamendedcircularsigned on May 17 by heads of Department of Finance, Social Security System (SSS) and Bureau of Internal Revenue, stated that “the Secretary of Finance, upon recommendation of the SBWS Program Task Force,andunderhighlyjustifiablecircumstances as may be necessary to achieve the purpose of the SBWS program, may extend the payout periods.”

Based on the latest data from the SSS, he said, the government has released P21.8 billion for around 2.85 million beneficiaries from the first tranche of SBWS as of May 24.

“The DBP, our payout partner for the program, has submitted the records of 3.05 million employee-beneficiaries to the banks via PESONet and PayMaya for crediting to the employees’ accounts, and MLhuillier for cash remittance. Typically, a portion of subsidies to be credited through bank accounts is returned to SSS for correction of account numbers by the applicants. The 2.85 million beneficiaries are those who have their SBWS ready for withdrawal, or pick up, as confirmed by the partner banks, PayMaya and MLhuillier,” he said.

While matching was being done, Lambino said, employers are allowed to revise the incorrect/invalid payout details of their employees to minimize failed transfers for the second tranche.

“As of May 26, account details of 35,000 beneficiary-employees have been corrected by their employers for the first tranche. These will be re-processed for payout through PESONet partner banks, PayMaya and MLhuillier. Of these, the SBWS for 10,000 beneficiaries are available for cash pick-up at MLhuillier,” he said.

DA harnesses ‘aquaponics’ to boost food production in urban communities

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HE Department of Agriculture (DA) said it will distribute units of urban “aquaponics” to communities within Metro Manila as part of its programs to promote and increase food production in cities.

Under its Plant, Plant, Plant program, the DA’s Bureau of Fisheries and Aquatic Resources (BFAR) will provide 15 small-scale and 10 large-scale fiber glass units and 50 large-scale canvas units of urban aquaponics to partner communities in Metro Manila.

“The distribution will follow an institutional arrangement through a memorandum of agreement [MOA] among the agency and the organized groups identified as recipients of the project,” BFAR said in a news statement issued on Tuesday.

“The project will cover the start-

up inputs for culture of fish and vegetables as well as include a training component for fast and efficient transfer of technology,” BFAR added.

BFAR said the use of aquaponics is one of the government’s projects to “ensure sustained food production in urban communities” during the Covid-19 pandemic and beyond.

Aquaponics is a technology that combines concepts of aquaculture and hydroponics to allow fishes and vegetables to grow together in an integrated system, according to BFAR. “We want an agriculture that is modern; we want an agriculture that is technology-based;wewanttoeradicate subsistence agriculture; we want an agriculture that is inclusive and marketoriented,” Agriculture Secretary William Dar said. Jasper Emmanuel Y. Arcalas

Assistance from Aboitiz family foundation RAFI tops ₧235.5 million

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EBU CITY—The buwad (dried fish) has long been a staple Cebuano food and a source of livelihood for several local entrepreneurs like Rafaela Ducay, who works at the Taboan Public Market in Cebu City.

However in recent weeks, the buwad has become a symbolic tool of empowerment for Ducay, a member of Ramon Aboitiz Foundation Inc.-Microfinance (RAFI MFI). This product has become a staple item in RAFI’s relief packs.

With the current coronavirus disease 2019 (Covid-19) pandemic, R A FI, the Cebu-based Aboitiz family foundation, has tapped its R AFI MFI Nanays to help in its Covid-19 response effort in the Visayas.

The R AFI MFI Nanays that were tapped have already earned a combined P8.9 million from selling vegetables, dried fish, and monggo for R AFI’s relief

packages (nine Nanays) and for sewing hazardous material suits (two Nanays) and sleeping mats (banigs) (one Nanay).

RMF Nanays in the dried fish and vegetable distribution supply businesses provided the contents of some of the 53,000 food relief packages distributed by RAFI to local government units (LGUs) in Cebu and Bohol.

For her part, Ducay was also able to help fellow mothers by employing 20 workers to pack the buwad.

“RAFI really helped us a lot by ordering goods from us. I am thankful because if it wasn’t for RAFI, we will be left with nothing in this time of crisis. The situation came unexpectedly, but we just need to hang on. What is important is that we are healthy and we are also able to help others,” Ducay said in the vernacular.

Approximately 4,000 personal

NANAY Rafaela Ducay at her Taboan Public Market stall in Cebu City. Thanks to RAFI, she was able to earn while assisting the Aboitiz Group’s Covid-19 response effort in the Visayas.

protective equipment (PPE) have also been sewn by RMF Nanay seamstresses and already distributed to hospitals and other organizations.

“In this time of crisis, the Aboitiz Group all the more believes in empowering affected Filipinos by offering a sustainable economic lifeline. We hope that our efforts will make a difference in helping families get back up on their feet and continue thriving in these challenging times,” said Sabin M. Aboitiz, Aboitiz Group president and chief executive officer.

Banigs distributed to street dwellers and over 442 stranded passengers (mostly returning Negros Oriental residents) in the port town of Samboan, Cebu, were also produced by RAFI MFI Nanays.

“Thank you RAFI for supporting the stranded passengers of Negros Oriental and Occidental who were stranded in Samboan.

The municipality is forever grateful for your generosity in providing relief goods, sanitation kits, bread, banig and medicine, you are truly a hero of philanthropy in these trying times. Thank you so much for being our champion of CSR [corporate social responsibility],” shares Vicky Calderon from the Samboan, Cebu Local government unit (LGU).

A number of LGUs remain under general community quarantine after May 15. Cebu City remains under enhanced community quarantine while Metro Manila is now under modified ECQ. In addition to the P195 million allotted for Covid-19-related relief operations, a total of P40.5 million was allotted for interventions focused on Covid-19 prevention, screening and treatment, bringing R AFI’s total response efforts to over P235.5 million to date.

The World BusinessMirror

Editor: Angel R. Calso

Huawei CFO gets first chance at release in extradition fight

T

he chief financial officer of Huawei Technologies Co., fighting extradition to the US, gets her first shot at release this week in a case that’s triggered an unprecedented diplomatic tussle between the US, China and Canada.

On Wednesday, the Supreme Court of British Columbia is set to release a decision on whether Meng Wanzhou’s case meets a key threshold of Canada’s extradition law. If Associate Chief Justice Heather Holmes rules that it fails to meet that test, Meng could be released from house arrest in Vancouver. If not, extradition proceedings will continue.

The case was triggered when Meng was arrested on a US handover request in December 2018 during a routine stopover at Vancouver airport, a city where she owns two homes and often spent summer holidays.

The fallout has since spanned three countries.

Meng, the eldest daughter of Huawei’s billionaire founder, Ren Zhengfei, has become the highest profile target of a broader US effort to contain China and its largest technology company, which Washington sees as a national security threat.

China has accused Canada of abetting “a political persecution”against a national champion. In the weeks after her arrest, China put two Canadians—Michael Spavor and Michael Kovrig—in jail, halted billions of dollars in Canadian imports and put two other Canadians on death row, plunging China-Canada relations into their darkest period in decades. US President Donald Trump muddied the legal waters further when he indicated early on that he might try to intervene in her case to boost a China trade deal.

Canadian Prime Minister Justin Trudeau—caught between his country’s two biggest trading partners— has resisted any such attempt to interfere in the high-stakes proceedings, saying the rule of law will govern Meng’s case.

“Canada has an independent judicial system that functions without interference or override by politicians,” Trudeau said last week in response to comments by the Chinese ambassador that Meng’s case was the biggest thorn in Canada-China relations.

“China doesn’t work quite the same way and doesn’t seem to understand that we do have an independent judiciary.”

China’s foreign ministry didn’t respond to a request for comment.

Escalating fight

Meng, 48, faces tough odds: of the 798 US extradition requests received since 2008, Canada has refused or discharged only eight cases, or 1 percent, according to Canada’s Department of Justice.

Whether she goes free or continues her battle against US extradition, the ruling is likely to further escalate the fight between Washington and Beijing, increasingly at loggerheads over everything from the coronavirus pandemic to the status of Taiwan and Hong Kong to trade and investment.

Huawei continues to play a central role in those tensions. Earlier this month, the Commerce Department barred chipmakers using American equipment from supplying Huawei without US government approval, closing a loophole in an effort to cut the Chinese company off from essential supplies used in its phones and networking gear. The move drew condemnation from Beijing and warnings from Huawei’s rotating chairman, Guo Ping, that the latest US curbs on its business would cause the whole industry to “pay a terrible price.”

The US government has lobbied its allies, including Canada, to ban Huawei from nextgeneration 5G networks, saying its equipment would make such infrastructure vulnerable to spying by the Chinese government. Despite that, the UK said in January it would allow Huawei a limited role.

But in recent days, British media have reported the government is backtracking and preparing to end Huawei’s presence by 2023.

Trudeau has been stalling on Canada’s decision with the fates of Spavor and Kovrig hanging in the balance. The two detainees have been confined for more than 500 days without access to lawyers. In contrast, Meng was photographed by CBC News on Saturday as she posed with nearly a dozen colleagues and friends—social distancing rules to fight the virus notwithstanding—displaying victory signs in front of the courthouse.

The pursuit of Meng by US authorities predates the Trump administration: officials were building a case against her since at least 2013, according to court documents in her case. Central to the case are allegations that Meng committed fraud by lying to HSBC Holdings Plc and tricking the bank into conducting Iran-related transactions in breach of US sanctions.

Wednesday’s ruling will focus on whether the case meets the so-called double criminality test: would Meng’s alleged crime have also been a crime in Canada?

Her defense has argued that the US case is, in reality, a sanctions-violations complaint framed as fraud in order to make it easier to extradite her. Had Meng’s alleged conduct taken place in Canada, the transactions by HSBC wouldn’t violate any Canadian sanctions, they say. The US bank and wire fraud charges carry a maximum term of 20 years in prison on conviction.

If the ruling goes against her, Meng’s next court hearings are scheduled for June and are set to continue to at least the end of the year. Appeals could lengthen the process for years longer. Bloomberg News

Wednesday, May 27, 2020

A5

US company trials coronavirus vaccine candidate in Australia

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ANBERRA, Australia—A US biotechnology company began injecting a coronavirus vaccine candidate into people in Australia on Tuesday with hopes of releasing a proven vaccine this year.

Novavax will inject 131 volunteers in the first phase of the trial testing the safety of the vaccine and looking for signs of its effectiveness, the company’s research chief Dr. Gregory Glenn said.

About a dozen experimental vaccines against the coronavirus are in early stages of testing or poised to start, mostly in China,

the US and Europe. It’s not clear that any will prove safe and effective. But many work in different ways, and are made with different technologies, increasing the odds that at least one approach might succeed. “ We a re in pa ra l lel ma k ing doses, ma k ing vacc ine in a nt ic ipat ion t hat we’ l l be able to

show it’s working and be able to star t deploy ing it by the end of t his year,” Glenn told a v ir tua l news conference in Melbour ne f rom Novava x’ headqu a r ters in Ma r yl a nd.

Animal testing suggested the vaccine is effective in low doses.

Novavax could manufacture at least 100 million doses this year and 1.5 billion in 2021, he said.

Manufacture of the vaccine, named NVX-CoV2373, was being scaled up with $388 million invested by Norway-based Coalition for Epidemic Preparedness Innovations since March, Glenn said.

The results of the first phase of clinical trials in Melbourne and Brisbane are expected to be known in July, Novavax said. Thousands

Japan vaccine hopeful continues surge as trial phase moves closer

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h ares in Japanese biopharma venture AnGes Inc. continued to surge as its much-hyped coronavirus vaccine candidate moved closer to starting human trials.

Shares jumped as much as 19 percent in Tokyo trading on Tuesday, taking its gaining streak to a fourth day, after the Nikkei newspaper reported late Monday that it would begin clinical trials for its DNA vaccine in July, earlier than previously planned. The stock is on course to close at the highest level since 2008.

That report followed the announcement by AnGes that animal trials of the vaccine had confirmed an increase in antibodies in tests it had been conducting with Osaka University since March.

“We will examine the results of the toxicity data and swiftly move forward to clinical trials,” AnGes said in a statement on Monday.

AnGes’s advance has helped buoy Tokyo’s Mothers startup board to the highest level since

January 2019. The progress of its drug development has led to wild swings in the stock, with shares falling more than 50 percent in two trading sessions earlier this month. The stock is still up more than 250 percent year-to-date.

DNA vaccines are a novel type of vaccine that use genetic material from pathogens to produce antibodies by inducing an immune system response. Such a vaccine has yet to be approved for human use anywhere in the world, but the technology has attracted attention for their purported safety and ease of large-scale manufacturing.

The vaccine is just one of hundreds of potential candidates worldwide, including that of Moderna Inc., but is thought to be the Japanese candidate in the most advanced stage. Having declared initial success in fighting the virus and ending the state of the emergency, Japan has indicated its keenness to take a leading role in the development of a vaccine.

Japa nese Economy Mi n i s -

ter Yasutoshi Nishimura said Sunday the second supplementary budget set to be decided on Wednesday would include funds to support the development of a vaccine, while Prime Minister Shinzo Abe said the country would seek to take the lead in developing a vaccine and treatment, and would propose a patent pool at the Group of Seven summit next month.

“We must join with countries that share our values and, in a free and open manner, take the lead in fighting the virus,” Abe said at his press conference on Monday announcing the end of the state of emergency.

While the Japanese government has also pitched Fujifilm Holdings Corp.’s Avigan antiviral drug as a treatment for Covid-19, Health Minister Katsunobu Kato said on Tuesday that the government has given up on an earlier plan to approve the drug this month, Kyodo reported.

Bloomberg News

of candidates in several countries would then become involved in a second phase.

The trial began with six volunteers being injected with the potential vaccine in Melbourne on Tuesday, said Paul Griffin, infectious disease expert with Australian collaborator Nucleus Network.

Most of the experimental vaccines in progress aim to train the immune system to recognize the “spike” protein that studs the coronavirus’ outer surface, priming the body to react if it was exposed to the real virus. Some candidates are made using just the genetic code for that protein, and others use a harmless virus to deliver the protein-producing information.

Still other vaccine candidates are

more old-fashioned, made with dead, whole virus.

Novavax adds another new kind to that list, what’s called a recombinant vaccine. Novavax used genetic engineering to grow harmless copies of the coronavirus spike protein in giant vats of insect cells in a laboratory. Scientists extracted and purified the protein, and packaged it into virus-sized nanoparticles.

“The way we make a vaccine is we never touch the virus,” Novavax told The Associated Press last month. But ultimately, “it looks just like a virus to the immune system.”

It’s the same process that Novavax used to create a nanoparticle flu vaccine that recently passed late-stage testing. AP

Global leaders call on UN, governments to help thwart health-care cyber attacks

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ozens of global leaders—ranging from former heads of state to private sector executives and Nobel laureates—signed onto a letter calling on international governments and the United Nations to help prevent the cyber attacks that have plagued health care and research facilities during the coronavirus crisis.

“We call on the world’s governments to take immediate and decisive action to stop all cyber attacks on hospitals, health care and medical research facilities, as well as on medical personnel and international public health organizations,” said a letter organized under the CyberPeace Institute, a nonprofit that helps hacking victims.

Among the signatories were former US diplomats including Madeleine Albright, private sector leaders including Microsoft Corp.

President Brad Smith, former heads of state including former Colombian President Juan Manuel Santos, Nobel laureates including

Desmond Tutu, and former UN officials including Ban Ki-moon.

“Over the past weeks, we have witnessed attacks that have targeted medical facilities and organizations on the front lines of the response to the Covid-19 pandemic,” the group wrote in the letter.

“These actions have endangered human lives by impairing the ability of these critical institutions to function, slowing down the distribution of essential supplies and information, and disrupting the delivery of care to patients.”

Hospitals have long drawn the unwanted attentions of hackers due to the mountains of personal data, outdated software, Internet-connected equipment and thousands of employees. But now as they focus resources on battling the pandemic, hospitals in addition to medical researchers and health-care companies have increasingly become targets as criminal groups seek to exploit the crisis. Bloomberg News

Stormy weather puts damper on SpaceX astronaut launch C

APE CANAVERAL, Florida—Stormy weather is threatening to delay SpaceX’s first astronaut launch.

A SpaceX rocket is scheduled to blast off on Wednesday afternoon from Kennedy Space Center, carrying a Dragon capsule with NASA astronauts Doug Hurley and Bob Behnken to the International Space Station. It will be the first time astronauts launch from Florida in nine years and a first for a private company.

The manager of NASA’s commercial crew program, Kathy Lueders, said everything was progressing well—at least on the ground.

“Now the only thing we need to do is figure out how to control the weather,” she said Monday evening as rain continued to drench the area. “We’re continuing to be vigilant and careful and make sure we do this right.”

Forecasters put the odds of acceptable launch weather at 40 percent.

But that doesn’t include the conditions all the way up the US and Canadian coasts and across the sea to Ireland—a complicated mix of measurements unique to the Dragon crew capsule.

The Dragon’s emergency escape system can kick in, if necessary, all the way to orbit. If that happens, the capsule will need relatively calm wind and seas in which to splash down.

SpaceX will have at least two recovery ships deployed off Florida, and NASA will have two military cargo planes ready to take off. Additional planes will be stationed in New York and England to assist with a potential water rescue, according to Lueders.

Hans Koenigsmann, a vice president for SpaceX, said the launch control team will incorporate global weather patterns and models to determine whether it’s safe to launch.

“If the weather gods are working with us,” he said, liftoff will occur at 4:33 p.m. SpaceX has a split-second launch window.

The good news is that the tropical weather headed toward Cape Canaveral should be gone in a couple days, with conditions also improving up the Eastern Seaboard later in the week.

If SpaceX doesn’t launch on Wednesday, its next attempt would be on Saturday. AP

The SpaceX Falcon 9, with the Crew Dragon spacecraft on top of the rocket, sits on Launch Pad 39-A on May 25 at Kennedy Space Center, Fla. Two astronauts will fly on the SpaceX Demo2 mission to the International Space Station scheduled for launch on May 27. AP/David J. Phillip

A6 Wednesday, May 27, 2020 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Safeguarding food delivery

T

he need for physical distancing to contain the spread of Covid-19 paved the way for the expansion of the food delivery service in urban centers. As customers can no longer visit their favorite restaurants due to quarantine restrictions, more and more restaurants are offering delivery service or take outs. To satisfy their hankering for their favorite meals, patrons will order via apps or drop by their favored establishments for take outs.

The expected easing of quarantine restrictions in the next few days, particularly in major cities in the National Capital Region (NCR), will not mean that food delivery will just fade away, as establishments will continue to observe physical distancing to prevent a second wave of Covid-19 infections. Pending the discovery of a vaccine against Covid-19, consumers will continue to use food delivery service to minimize the risk of being exposed to the virus. Food delivery services will allow restaurants, particularly micro, small and medium enterprises (MSMEs), to somehow stay afloat given the challenging business environment brought about by the pandemic.

Prior to the Covid-19 pandemic, the Global Agricultural Information Network report prepared by the United States Department of Agriculture’s Foreign Agricultural Service in Manila had projected that the Philippine food service industry could go up by at least 8 percent this year to a record $16.11 billion. The report, which was released in December 2019, noted that the improvement in the purchasing power of the middle class will power the industry’s growth in the next five years. Millennials, comprising about a third of the total Philippine population and who spend the most on food, will also boost the earnings of restaurants (See, “Growing middle class seen dining out more,” in the BusinessMirror, December 10, 2019).

It remains to be seen whether food delivery will help restaurant businesses stay afloat, but it will allow Filipino families to celebrate milestones, such as birthdays, with the proverbial pansit and roast chicken on their table—courtesy of food delivery services. As more and more families turn to food delivery, we urge restaurants to ensure that they observe hygiene standards and food safety law and regulations. We enjoin restaurants to continue using fresh ingredients and materials for all their dishes as the strict adherence to food safety regulations will allow establishments to enjoy the continued patronage of their old-timers and even gain new ones.

As restrictions to mobility could hamper the operations of restaurants, we call on the Department of Agriculture to explore tie-ups with these establishments. The lifting of the enhanced community quarantine in the NCR will not necessarily make it easier for these establishments to buy vegetables and other agricultural products due to the need to observe physical distancing.

Apart from giving restaurants access to high quality agricultural products that are not available in their neighborhood grocery stores, these tieups will also enable farmers to increase their income.

To prevent contamination, restaurants offering food delivery must see to it that the containers they use are clean and safe. They would do well to remember that these food items must be placed in the right container, as it will take some time before the product reaches the doorsteps of their customers. While customers will give restaurants some leeway given the current business environment, food outlets could lose their patrons if they will take shortcuts to save on cost.

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The value of SSS membership Aurora C. Ignacio

All About Social Security

F

or many reasons, the year 2020, so far, has not been easy for us Filipinos. To begin with, we had to surmount the challenges posed by the violent and catastrophic eruption of Taal Volcano, and not long after, we had to deal with the ongoing Covid-19 pandemic.

Since March, various types of community quarantine were strictly implemented in the country to stop the virus from spreading.

These events have adversely affected our economy. National Economic and Development Authority (Neda) Acting Secretary Karl Kendrick Chua said in a statement, surveys show that two-thirds of businesses did not operate during the enhanced community quarantine, and about 20 percent of them had no choice but to lay off their workers. On the other hand, 45 percent of nongovernment and self-employed workers also lost their sources of income.

In difficult times such as these, aside from relief and intervention programs provided by the government and private sector, the usefulness of your savings could come in handy.

Apart from the money you have deposited in the banks or invested in mutual funds and blue-chip companies, your Social Security System (SSS) contributions are your lifeline during these difficult times.

As SSS members, it is beneficial to know how you can make the most of your contributions. There are seven types of SSS benefits that are granted to members during contingencies that result in loss of income

or financial burden. These types of benefits are sickness, maternity, retirement, unemployment, disability, death and funeral.

On top of this, members who pay or whose employers pay Employees Compensation (EC) contributions in addition to their SSS contributions are also covered in the event of workrelated sickness, injury, or death under the government’s EC Program.

In 2019, we have disbursed more than P196.76 billion benefits to about 3.99 million beneficiaries. This means a growth of 9.3 percent and 8.4 percent, respectively, compared to the nearly P180.08 billion benefit disbursements and over 3.68 million beneficiaries in 2018.

Members are also given the privilege of availing themselves different kinds of loans such as salary, calamity, educational assistance and housing. Pensioners, on the other hand, may avail themselves of pension loan of up to 12 times their basic monthly pension or a maximum amount of P200,000.

From January to December last year, we have released nearly P40.57 billion loans to almost 2.04 million member-borrowers, an increase of 7.4 percent and 4.9 percent, respectively, over the P37.77 billion loan

Depression, suicide and Covid-19

By Atty. Dennis R. Gorecho

S

uicide reports due to depression are sad manifestations of the negative mental health effects of the Covid-19 pandemic.

Pandemic anxiety can be overwhelming, and if not handled properly may become emotional, physical and economic catastrophes.

On May 10, a 39-year-old Ukrainian crew member on the Regal Princess ship died after jumping overboard while the ship was anchored off Rotterdam, Netherlands.

This was followed by news of a crew member who jumped off Royal Caribbean’s Jewel of the Seas ship while it was near Greece late last month. His body was never found.

Although the suicide incidents can be considered as isolated cases, it cannot be denied that emotional and financial stressors are wellrecognized risk factors for suicide.

For many seafarers, the primary source of their depression is initially connected with repatriation issues, as they wait for news about the schedule of their journey home and see their families again.

Airline and port restrictions have made the repatriation process difficult.

In some instances, traveling is almost impossible because most international air traffic is grounded.

Similarly, many cruise lines suspended their operations to mitigate

the spread of the pandemic.

Fear of the unknown and uncertainty of their future is compounded by the repeated Covid-19 outbreaks on ships, the anxiety of contracting the virus and the company’s inability to provide them with adequate protection and reliable information.

They also had to deal with financial issues, like the alteration or nonpayment of their contractual monetary benefits, especially those with expired employment contracts who have been forced into continued labor aboard ships.

Actual repatriation to the Philippines did not stop the emotional stress to some of the overseas Filipino workers (OFWs), as their return to their respective homes is still in limbo.

Repatriated OFWs have to wait for the results of their Covid-19 tests before they can return home.

Cruise ships are currently at the Manila Bay anchorage area with thousands of Filipino seafarers waiting for the clearance. Some are billeted in quarantine facilities.

Some of the stranded OFWs complained about their continued stay at the facilities that already

exceeded the recommended 14-day quarantine.

The Department of Health attributed the delay in the release of the tests results, to encoding issues and slow pace of testing.

Sadly, one OFW from Kuwait committed suicide inside a temporary quarantine facility in Pasay City.

The Covid-19 pandemic validates the 2019 “Seafarer Mental Health Study” conducted by Yale University funded by the ITF Seafarers’ Trust that has identified worrisome levels of depression, anxiety and suicidal thoughts among seafarers.

It revealed a link between depression, anxiety and suicidal thoughts and a greater likelihood of injury and illness on board.

Factors cited included lack of adequate training, an uncaring work environment, low job satisfaction, and existing medical conditions.

Stress causes the immune systems to weaken, inducing one to be more susceptible to illness, both mental and physical.

The study noted that seafarers with depression reported less control over their work, less ability to set their own work pace or influence decisions.

Depression is a mental state associated with loss of interest, feelings of helplessness or worthlessness and heightened levels of anxiety.

If left untreated, depression can lead to considerable impairments in an individual’s ability to take care of

releases and 1.94 million memberborrowers recorded in 2018.

Another P2.52 billion in loans were also released to 74,503 pensioners from January to December 2019 under the SSS’ Pension Loan Program, which started in September 2018.

It is important to note that these benefits and loan privileges have qualifying conditions that members must meet to avail.

Like the other challenges we have faced in the past, we will also overcome this pandemic with the continuous efforts we pour in—with the support of our frontliners, government, nongovernmental organizations, and the private sector.

As we gradually transition to a new normal, we assure our members that they can rely on the SSS to continuously fulfill its mandate of providing meaningful social security protection to them and their beneficiaries.

This is the true value of your SSS membership.

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

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

his or her everyday responsibilities.

In extreme cases, depression can lead to suicidal tendencies and actual suicide.

Under the Philippine Overseas Employment Administration contract, the employer is liable to pay the heirs of the deceased seafarer for death benefits once it is established that he died during the effectivity of his employment contract. However, the employer may be exempt from liability if it can successfully prove that the seaman’s death was caused by an injury directly attributable to his deliberate, criminal or willful act.

If the cause of death is closely related to depression due to Covid-19, its compensability will be a debatable issue.

In Leonis Navigation v. Obrero (GR 192754, September 07, 2016), the Court ruled that work-related stress may precipitate the disorder noting that the seafarer’s prolonged stint at sea eventually taxed his coping abilities, which rendered him incapable of handling the stress.

Nevertheless, the heirs must be paid either $10,000 (natural death) or $15,000 (accidental death) under the Compulsory Insurance Coverage of Republic Act 10022 or the amended Migrant Workers Act (Amwa) whether or not there is a suicide issue as cause of death.

Atty. Dennis R. Gorecho heads the seafarers’ division of the Sapalo Velez Bundang Bulilan law offices. For comments, e-mail info@sapalovelez.com

Opinion BusinessMirror

www.businessmirror.com.ph

China’s trillions toward Covid-19: Let’s heal as one tech won’t buy dominance

By Anjani Trivedi Bloomberg Opinion

B

ig spending numbers are being thrown around in China, once again. This time, it’s trillions of yuan of fiscal stimulus on all things tech. The plans are bold and vague: China wants to bring technology into its mainstream infrastructure buildout and, in the process, heave the economy out of a gloom due only partly to the coronavirus. But will this move the needle for China to achieve some kind of technological dominance? Or increase jobs, or boost favored companies? Not as much as the numbers would suggest, and possibly very little. A country covered in 5G networks makes for a tech-savvy society; it’s less clear that this money will boost industrial innovation or even productivity.

Over the next few years, nationallevel plans include injecting more than 2.5 trillion yuan ($352 billion) into over 550,000 base stations, a key building block of 5G infrastructure, and 500 billion yuan into ultra-highvoltage power. Local governments have ideas, too. They want data centers and cloud computing projects, among other things. Jiangsu is looking for faster connectivity for smart medical care, smart transportation and, well, all things smart. Shanghai’s City Action Plan alone is supposed to total 270 billon yuan. By 2025, China will have invested an estimated $1.4 trillion. According to a work report released on Friday in conjunction with the start of the National People’s Congress, the government plans to prioritize “new infrastructure and new urbanization initiatives” to boost consumption and growth. Goldman Sachs Group Inc. analysts have said that new infrastructure sectors could total 2 trillion yuan ($281 billion) this year, and twice that in 2021. Funding is being secured through special bonds and big banks. The Shanghai provincial administration, for instance, plans to get more than 40 percent of its needs from capital markets, and the rest from central government funds and special loans. Thousands of funds have been set up in various industries since 2018, and some goals were set forth in previous plans.

Policy-makers are aggressively driving the fiscal stimulus narrative through this new infrastructure lens.

Building big things is a tried and true fallback in China, from the nation’s own road-and-rail networks to its most important soft-power foreign policy, the belt-and-road initiative to connect the globe in a physical network for trade. It’s less obvious that this will work for technology.

The reality is that the central government-approved projects add up to only around 10 percent of infrastructure spending and 3 percent of total fixed asset investment. The plans lack the focus or evidence of expertise to show quite how China would achieve technological dominance.

Thousands more charging stations for electric cars won’t change the fact that the country has been unable to produce a top-of-the-line electric vehicle, and demand for what’s on

China is unlikely to get the boost from tech spending that it needs to solve present-day problems, especially in the flux of the post-Covid-19 era. Ultimately, the country will just fall back on what it knows best: property, cars, roads and industrial parks.

The economy is still run by construction, real estate and manufacturing. Investors should think again before bringing in anything but caution.

offer has tanked without subsidies.

With their revenues barely growing, China’s telecom giants seem reluctant to allocate capital expenditures toward the bold 5G vision.

China Mobile Ltd. Chairman Yang Jie said on a March earnings call that capex won’t be expanding much despite the company being at the outset of a three-year peak period for 5G investments. Analysts had expected it to grow by more than 20 percent, compared to the actual 8.4 percent. Laying this new foundation for the economy, which includes incorporating artificial intelligence into rail transit and utilities, requires time, not just pledged capital. It’s hard to see the returns any time soon, compared to investments on old infrastructure. These projects are less labor intensive, so there’s no corresponding whack at the postvirus jobless rate that would help demand. State-led firms that could boast big profits from sales of cement and machinery on the back of building projects, for instance, can’t reap money as visibly from being more connected. Spending the old way isn’t paying off like it used to, either.

Sectors such as automobiles and materials, big beneficiaries of subsidies and state funding, have seen returns on invested capital fall. The massive push over the years gave China the Shanghai maglev and a vast network of trains and roads. But much debt remains and several of those projects still don’t make money. Add in balance-sheet pressures and spending constraints, and every yuan of credit becomes less effective.

There’s also expertise to consider.

Technological dominance may require research more than 5G poles.

China’s problem with wide-scale innovation remains the same as it has been for years: It always comes from the top down. Beijing has determined and shaped who the players will be. Good examples are the 2006 innovative society plan and Made in China 2025, published in 2015, that intended to transform industries and manufacturing, and have had mixed results.

China is unlikely to get the boost from tech spending that it needs to solve present-day problems, especially in the flux of the post-Covid-19 era. Ultimately, the country will just fall back on what it knows best: property, cars, roads and industrial parks.

The economy is still run by construction, real estate and manufacturing.

Investors should think again before bringing in anything but caution.

Dr. Jesus Lim Arranza

MAKE SENSE

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he Covid-19 pandemic could be the Philippines’s worst health crisis with over 14,300 confirmed cases and 873 deaths as of May 25, 2020. With over 5.4 million confirmed global cases and 345,122 deaths, the Covid-19 pandemic could be considered next only to the 1918 Spanish flu pandemic that infected over 500 million people and killed 50 million worldwide.

And with no Covid-19 vaccine yet available maybe until next year, fear has already gripped the world, including the Philippines. For its mitigation strategies, the Philippine government, through the Inter-Agency Task Force (IATF) for the Management of Emerging Infectious Diseases established its social distancing protocols such as not allowing group gatherings, closing stores, shutting down schools, factories and public transportation, self and community quarantining, among others, including the wearing of face mask and regular washing of hands.

But even with these mitigation measures already in place, the rising number of confirmed Covid-19 cases in the country is fanning more fear

Bloomberg Opinion

L

ast week, Benjamin Netanyahu was just sworn in for his fifth term as Israel’s prime minister. This week, at the District Court in Jerusalem, he goes on trial for charges of fraud, breach of trust and bribery.

In the last election, Netanyahu’s political detractors denounced him as a dictator, likening him to Turkey’s Recep Tayyip Erdogan or France’s Louis XIV, who famously proclaimed “I am the state.” His supporters cheered him as “Bibi, King of Israel.”

Netanyahu modestly compares himself to his hero, Winston Churchill.

There is some truth in all of these

comparisons. But the figure he most resembles is Michael Jordan – the basketball superstar who led the Chicago Bulls to six NBA championships and became, by nearly all accounts, basketball’s GOAT (greatest of all time) player. The Last Dance, a 10part documentary about Jordan, has become one of the most downloaded documentaries of the Covid-19 era.

Jordan, of course, combined phenomenal natural talent, a fanatical work ethic, high professional IQ and an absolute refusal to accept anything short of victory. He bullied his teammates to get them to perform to his standards. He nursed grudges against opponents to keep himself fired up. He intimidated referees into giving him the benefit of the

by some professionals (medical and nonmedical) that are being aired or posted publicly, could only exacerbate the misery of an already fearful nation. These reports and/or socialmedia postings could be technically or medically confusing to people who are already perturbed by the various reports about Covid-19, especially those who are or have relatives or friends already struggling to survive because the virus has stopped most economic activities in the country.

These unsolicited suggestions or observations may have been posted for noble reasons by supposedly professionally trained and experts in their respective fields. However, I am concerned of their possible impact on people, because some of them could add confusion to an already frightened nation. It will do more good than bad if they discuss their observations, suggestions and recommendations on the pandemic with the IATF, instead of selling them in the market of public opinion. The fight against Covid-19 is not a PR war.

This is a real war for survival against an unseen enemy.

When the Bayanihan to Heal as One Act was signed by President Duterte, it signalled the call for all Filipinos to help in the fight against the deadly virus as one nation. Perhaps, those who have the knack to publicly post their observations, suggestions

World War II cemented the enduring ties between the US and the Philippines

By US Ambassador Sung Kim

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ood morning and thank you all for joining me this Memorial Day in honoring military members who have sacrificed so much. I am grateful that our colleagues at the American Battle Monuments Commission are virtually honoring the more than 200,000 US service members buried at their sites around the world, using the hashtag #alone-together-we-honor.

This year is a very special Memorial Day as it marks the 75th anniversary of the end of World War II, a war

that cemented the deep and enduring ties between the United States and the Philippines. Brave US and Filipino soldiers, together, liberated the nation and relieved the suffering of millions. Their sacrifice serves as the foundation of the strong relationship our two countries enjoy today.

We became allies for freedom in that dark time; and 75 years later, our countries remain steadfast partners.

As part of 75th anniversary commemorations, I had the privilege to meet and pay tribute to many incredible World War II veterans, presenting Congressional Gold Medals

to courageous Filipinos who served alongside US soldiers. It has been truly inspiring to learn about the amazing acts of heroism, courage, and sacrifice of brave Filipino and American soldiers. I am blessed to have had the opportunity to honor them and help ensure their legacy lives on.

This year’s ceremonies at University of Santo Tomas, a former internment camp that was home to more than 3,000 American prisoners, and even here at the Embassy, where we honored those who fought bravely to retake Corregidor,

and recommendations on how the management of Covid-19 should be done, can take the Act for a cue.

And if only to help save an already jittery nation from confusion, hopelessness and depression, like an orchestra that has only the conductor to orchestrate a harmonious mix of melodic sounds, let us leave the baton to the President in the handling of the pandemic, so he can lead the IATF or his alter egos in the various executive departments in addressing their respective Covid-19 concerns.

If anybody has an important suggestion or observation about the handling of Covid-19, don’t go to the media. Reach out to the conductor or at least go to his concerned alter ego in the government.

We may end up losing the fight against Covid-19 if we ignore the wisdom in the idiom “too many cooks spoil the broth.”

Moreover, let us all be reminded about the message of the song “We heal as one,” because this is what the nation needs in our fight against Covid-19.

Dr. Jesus Lim Arranza is the chairman of the Federation of Philippine Industries and Fight Illicit Trade; a broad-based, multisectoral movement intended to protect consumers, safeguard government revenues and shield legitimate industries from the ill effects of smuggling.

served as poignant reminders of the sacrifices made by so many Americans and Filipinos.

The best way for us to honor the memories of those who made the ultimate sacrifice for the benefit of future generations is to carry forward the US-Philippines relationship as friends, partners and allies. We will do so with unwavering commitment and profound appreciation for our veterans’ service and sacrifice. Thank you very much.

(US Ambassador Sung Kim’s Memorial Day Remarks on May 25, 2020)

The pandemic is exposing the limits of science

By Ferdinando Giugliano Bloomberg Opinion

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he 2008 financial crisis led the public to discover the limits of economics. The Covid-19 pandemic risks having the same effect on scientists and medical doctors.

Since the start of the outbreak, citizens have struggled to get clear answers to some basic questions. Consider masks, for example: The World Health Organization said early on that there was no point in encouraging healthy people to use them, but now most doctors agree that widespread mask-wearing is a good idea. There was also confusion around lockdowns: In the UK, scientists argued for weeks over the merits of closing businesses and keeping people at home—a quarrel that may have cost the country lives. And now that the outbreak is fading in Italy, there is growing debate between the country’s public

Israel’s Michael Jordan has all the shots

By Zev Chafets

into an already scared nation. The cloud of uncertainty over who is going to get the virus next is aggravating the anxiety already building up in the minds of many Filipinos, after being confined to their homes for almost two months because of the enhanced community quarantine and modified enhanced community quarantine in the National Capital Region and parts of Luzon, and the general community quarantine in other parts of the country.

With nothing much to do in their homes but watch for news updates about the pandemic through the regular news and social-media networks, the varying opinions, observations and suggestions on how the pandemic should be handled,

Wednesday, May 27, 2020 A7

doubt. His philosophy was simple: Win at any cost.

That’s Netanyahu in a nutshell— a relentless competitor who loves to play on the brightest stages for the highest stakes. The two share an arrogant self-confidence blended with a strong streak of paranoia. Like Mike, Bibi is the guy with the longest cigar in the room, the biggest ego in the building and the victories that come with a refusal to finish anywhere but first.

This dominating will to power is what won Bibi reelection. The Blue and White Party, his main coalition partner, ran on the electoral vow that it would never serve in a government led by a man facing criminal charges for breach of trust, fraud and bribery.

health experts and doctors over whether the virus has lost strength or remains just as deadly.

These disputes are only natural since we are dealing with a novel coronavirus that caught most Western health-care systems off-guard. Meanwhile, scientists across the world have raced to share data, and a number of companies have ramped up work on a vaccine, which could be one of the fastest-developed in human history.

And yet, the pandemic has reminded us that science—and medicine in particular—has limits. In a way, the last few months have resembled what occurred in the 2008 crisis, as economists fought over the right response to the crash. The academic community split between those who said the US government should save all large banks and those who said it should let Lehman Brothers go bust. In Europe,

the controversy centered on whether countries should pursue austerity or run large-scale budget deficits. These divisions, and the ensuing policy mistakes, dented economists’ reputation in the eyes of the general public.

The comparison with 2008 is fitting because economists are faring relatively well during this pandemic. True, there was some initial support, including from the European Central Bank and the UK Treasury, for the idea that the outbreak would be followed by a rapid “V-shaped” recovery—and this hypothesis has lost ground as we’ve braced for a longer and deeper slump. However, economists were quick to reach consensus that governments and central banks should expand fiscal and monetary policy, to boost demand as lockdowns crushed economic activity.

Regulators, too, acted swiftly, giving banks greater flexibility to keep lending

to companies and individuals. It is still early days, but the overall impression of economics is that of a united professional and academic body, one that did not let the financial crisis go to waste but instead learned from it.

On the other hand, scientists and medical doctors have struggled to convey a unified message to the public. This does not mean they have failed in their duty. Far from it. Health-care professionals are the true heroes of this crisis, risking their lives to protect the rest of us. But on a range of issues—from containing the virus to prescribing effective treatments—we have seen some scientists and doctors jump to conclusions, only for others to give immediate rebuttals. (The contention over the efficacy of hydroxychloroquine is one example.) This seesawing has added to the sense of panic and confusion among ordinary citizens.

And yet, here they are, with a seat at Bibi’s table.

Blue and White leader Benjamin Gantz has the title of defense minister and alternating prime minister (he steps into the top job in 18 months, by agreement), but he has already accepted his de facto role as Bibi’s second banana. In a prime time TV interview aired this week, Gantz publicly ate his campaign promise not to serve in a government under Netanyahu and refused to say a negative word about his new boss.

Bibi will treat Gantz with respect as long as he is useful—and then dump him without a second thought.

That’s how he deals with coalition partners and the Likud Party “sup-

porting cast” (the phrase Jordan used for his teammates). Everyone, including Gantz, knows this. But if you want to play, you play by the rules of the GOAT. Netanyahu’s reputation for winning precedes him into the courtroom. He will work the crowd against the judges and turn boos from the press gallery into adrenaline. The judges are presumably honest, but they are also human and they have never been under the kind of pressure Bibi knows how to bring, through rallying supporters, in press conferences, social media, leaks and other means.

The prosecutors, too, are nervous.

They have stacks of evidence. They have run the case a thousand times.

They don’t see how they can lose.

But Bibi does. And that’s what they are afraid of.

Bibi’s basic strategy is to play out the clock. The district court proceedings will take a year at least. If he loses, he can appeal to the Supreme Court and gain more time. Until then, he enjoys the presumption of innocence and the Supreme Court’s own recent ruling that he is eligible to serve as prime minister even with pending criminal indictments hanging over him.

The Last Dance ends with Jordan ruminating on his career. From the living room of his seaside mansion, he radiates charisma, charm and satisfaction. He is now too old for the game, but competitive fires don’t go out so easily.

A8 Wednesday, May 27, 2020

‘DIGITAL PLATFORMS SPUR SHIFT TO CASHLESS’

By Tyrone Jasper C. Piad

A

@Tyronepiad

MID the coronavirus pandemic, a cashless society is not far from reality with heightened digital capabilities, a bank executive said.

Union Bank of the Philippines President Edwin R. Bautista, in a recent digital stockholders’ meeting, noted that the public has been resorting to digital platforms amid the lockdown in a bid to contain the virus.

“This crisis has shown that with digital capabilities, a bank can be run from home, that business will adjust to cashless environment, and that we don’t have to go to a branch everyday to perform our banking needs,” he said.

While the business disruption amid the pandemic was deemed unprecedented, Bautista underscored that the listed bank had a relatively smooth transition in operating under the lockdown, thanks to the digital transformation program.

This helped the bank in offering continued services for its clients, he said, noting that UnionBank registered record-highs in March in terms of digital account opening in the bank’s online application.

Continued on A2

BTr lures small investors to 364-day Treasury bills

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By Bernadette D. Nicolas

@BNicolasBM

HE Bureau of the Treasury doubled the accepted noncompetitive tenders for the 364day Treasury bills (T-bills) to P8 billion, raising P24 billion at Tuesday’s auction.

The amount awarded was bigger than the initial P20-billion offering as the Treasury decided to accept the noncompetitive bids, which are usually submitted by smaller investors sans guarantee on the price or yield.

Broken down, the Treasury awarded P5 billion each for the 91-

day T-bills and 182-day T-bills and P14 billion for 364-day T-bills.

Rates also trended lower across all tenors and the auction was oversubscribed by more than four times as tenders reached P94.38 billion compared with the initial P20-billion offering.

National Treasurer Rosalia V.

de Leon told reporters they also opened the tap facility for an additional P10-billion offering for 364-day T-bills. “[The] rates [are] still lower than the previous auction and secondary levels,” De Leon said. “[Investor] sentiment [is] supported by ample liquidity and possible BSP [Bangko Sentral ng Pilipinas] action to trim RRR [reserve requirement ratio] again.”

The 91-day T-bills fetched an average rate of 2.058 percent, lower by 3.2 basis points from the previous average rate of 2.090 percent.

Tenders for the tenor amounted to P19.9 billion, nearly four times the P5 billion offering.

Meanwhile, the average rate of 182-day T-bills settled at 2.114 percent, declining by 7.9 basis

points from the average rate of 2.193 percent recorded in the previous auction. Bids for the debt papers reached P20.60 billion, equivalent to four times the P5billion offering. For the 364-day T-bills, tenders were recorded at P53.88 billion, five times as much as the initial P10-billion offering.

The average rate for the tenor stood at 2.508 percent, dropping by 14.5 basis points from the previous average rate of 2.653 percent.

The BSP has so far flushed the ailing economy with liquidity through a 200-basis-point cut in banks’ reserve requirement ratio.

The Monetary Board has authorized BSP Governor Benjamin E. Diokno to cut banks’ RRR by a total of 400 basis points this year.

Time Master Watches partners with Habitat to respond to Covid-19 I T’S the third anniversary of Time Master Watches (TMW) and the company is launching its first automatic watch, the

“Apollo.” Being a proudly Filipino brand brings a sense of responsibility. Thus, TMW owner and CEO Brian Poe Llamanzares has

FRONTAL SYSTEM AFFECTING EXTREME NORTHERN LUZON SOUTHWESTERLY WINDFLOW AFFECTING THE REST OF NORTHERN LUZON as of 4:00 am - May 26, 2020

JAY ANCHETA (left), senior manager, Volunteer Engagement Programs-Asia and Pacific at Habitat for Humanity International, is shown with Brian Poe Llamanzares, CEO and owner of Time Master Watches. CONTRIBUTED PHOTO

decided to donate a portion of the sales generated by the Apollo watch to help Filipinos fight Covid-19.

“I’m proud to announce our partnership with Habitat for Humanity! We will be dedicating a portion of our sales to support their Covid-19 response efforts.

This program will help to support hygiene and sanitation projects to protect communities across the Philippines,” Llamanzares said.

Brian chose to partner with Habitat for Humanity Philippines, as he has been volunteering as a youth ambassador for the NGO since 2014, building homes in Bohol, Bantayan Island, and other parts of the country.

The Apollo is a tourbillion, chronograph, automatic watch retailing at P12,500 per piece.

Not bad considering its local competitors retail for slightly higher. This luxury watch was designed by Brian and his team and currently only has limited supplies. Due to the Covid crisis, access to supplies has made it difficult to produce more and the sale of the watch will be done purely online.

The company began developing the watch upon Brian’s return from Columbia University in 2018. They first conceptualized the name and decided to launch by 2020 to commemorate the third anniversary of the watch company, little imagining the Covid-19 crisis would happen.

Interestingly, research shows that the ancient Greek god of the sun, Apollo, was also known as the god of medicine and healing.

Seeing an opportunity to give back, Brian and his team immediately reached out to Jay Ancheta, head of volunteer engagement programs at Habitat for Humanity International, to help with Habitat’s efforts to combat the pandemic.

Proud of his latest project, Brian says that more than the watch, it’s the thought of giving that makes this particular timepiece truly special.

“It’s a great watch and the supplies are limited, but what I like most about it is the fact that every time our customers look at their watch they will remember that they gave to protect our people when the country needed it the most.”

Brian prides himself in making sure that his companies are socially responsible. Time Master Watches has worked with nongovernment organizations to help communities in need. Their previous watch, the “Poseidon,” helped prov ide education for those in need in tandem with Alex Eduque’s MovEd project.

Time Master Watches was founded in May 2017 and was Brian’s first attempt at entrepreneurship after having served in his mother’s presidential campaign.

Since then he has gone on to startup, invest in, and build several other companies providing jobs and opportunities to Filipinos.

Insurance premium incomes hit P305B

T

HE total premium income of the Philippine insurance industry in 2019 went up by nearly 5 percent to P304.64 billion, from P290.15 billion in 2018, the Insurance Commission reported on Tuesday.

Citing data from the unaudited Quarterly Reports on Selected Financial Statistics submitted by insurance companies, the commission said the insurance industry’s total net income for 2019 expanded by 20.38 percent to P45.12 billion, from P37.48 billion in 2018.

Insurance Commissioner Dennis B. Funa said all sectors of the insurance industry—life, nonlife and mutual benefit associations (MBA)—recorded growth for the period in terms of assets, net worth, investments and total premiums collected.

“We learned from said reports that the significant growth of the life insurance industry’s net income, which was due to increases in premium income, commissions earned, and underwriting income, drove the overall increase of the net income of the entire insurance industry,” Funa said in a statement.

In terms of total investments, the entire insurance industry saw a 19.89 percent year-on-year increase to P1.59 trillion last year, from P1.33 trillion in 2018.

In 2019, total assets of the insurance industry grew by 13.03 percent to P1.78 trillion, from P1.58 trillion in 2018.

Meanwhile, the commission reported that the industry’s aggregate net worth surged by 13.04 percent to P381.59 billion in 2019, from P337.55 billion in the previous year.

The life insurance sector’s net income rose by 25.76 percent to P36.13 billion, from 2018’s P28.73 billion while its investments went up by 19.43 percent during the same period to P1.39 trillion, from P1.16 trillion.

The sector’s premium income, assets, net worth and paid-up capital also expanded last year.

As for the nonlife industry, the commission said it recorded positive growth in its net premiums written, total investments, aggregate net worth, total assets and paid-up capital.

Total investments of the nonlife insurance sector expanded by 30.88 percent to P117.50 billion from 2018’s P89.77 billion.

“This notable increase in the total investments of the nonlife insurance industry can be attributed to the 63percent increase in equity securities investments, 16-percent increase in investments in government debt securities, and 33-percent increase in investments in debt securities from private sector, year-on-year,” Funa said.

As for the MBA industry, its performance indicators, such as contributions/premiums collected, investments, total guaranty fund and net surplus also showed an upward trend year-on-year.

Its total assets climbed 15.02 percent to P101.06 billion, from P87.86 billion while its total fund balance jumped by 17.39 percent to P41.45 billion in 2019, from P35.31 billion in 2018.

For the same period, insurance density—the amount of premium per capital or average spending of each individual on insurance—inched up by 3.35 percent to P2.81 billion in 2019, from P2.72 billion in 2018.

“These figures were obtained prior to the onset of the community quarantine due to the coronavirus disease 2019 [Covid-19] pandemic. Nevertheless, we hope that the economic and financial impact of the pandemic in the succeeding reporting quarter will be softened by the measures adopted by the Commission through the various Covid-19-related Circular Letters that we have issued,” said Funa.

Bernadette D. Nicolas

www.businessmirror.com.ph

Companies BusinessMirror

Wednesday, May 27, 2020

B1

Petron Corp. posts net loss in Q1 as fuel demand sinks C

Holcim resumes production of cement in PHL factories

By Lenie Lectura

P

@llectura

etron Corp. ended the first quarter with a net loss of P4.9 billion, a reversal from the net income of P1.3 billion it recorded in the same period last year, due to the decline in fuel demand.

The company attributed the reduction in the demand for petroleum products to the implementation of quarantine restrictions to contain the spread of coronavirus disease 2019 (Covid-19).

“The entire industry is going through a rough phase because of Covid-19’s impact on oil demand and prices. As expected, domestic consumption has gone down particularly in retail and aviation which is understandable because of travel bans and restrictions,” said Petron President and CEO Ramon S. Ang. Revenues also went down by 16 percent to P104.6 billion at end-March this year, from P124.6 billion in the same period a year ago. Also, the combined sales volume of Petron in the Philippines and Petron Malaysia was also lower at 24.7 million barrels, from last year's 26.3 million barrels.

The benchmark Dubai crude plummeted by about 66 percent to $23 per barrel (bbl) by end-March from $67/bbl by end-December last year.

Ang explained that the Philippines and Malaysia imposed strict lockdowns towards the end of the first quarter, limiting movement and economic activity, to contain the

spread of Covid-19.

Since the enhanced community quarantine (ECQ) was implemented in the country, some Petron stations have temporarily closed or shortened their operating hours due to the drop in the number of vehicles on the road.

Petron has activated its Business Contingency Plan to cope with the crisis due to the pandemic. This includes strict costsaving and cash conservation measures.

“Business is challenging. We have to be more prudent in managing our resources while ensuring that the needs of our customers are still met. Demand recovery will depend upon the lifting of quarantine measures and ultimately, finding a vaccine to fully restore mobility.

While we are hopeful for a swift recovery, we know that these are things we cannot rush. The health and safety of the people is still the most important,” said Ang. Since May 5, Petron's Bataan refinery has been on a scheduled turnaround to give way to maintenance activities on major process units. Also, the plant shutdown will mitigate the impact of low fuel demand and poor refining margins. Nonetheless, it assured that it has enough inventory to sup-

ply domestic market requirements, which will be replenished through importation of finished products.

Despite the challenging business environment, Ang said Petron will continue to help alleviate the burdens of Filipinos particularly those on the frontlines as well as its scholars, communities, and other stakeholders.

Assistance in the form of fuel cards and other donations has been extended to medical frontliners and staff from various hospitals. Petron also launched a donation drive wherein Petron Value Card (PVC) holders can donate their points to help procure medical supplies and relief packs for health workers. For a certain period, Petron matched donations to generate more funds.

Petron has allotted over P1 million in assistance to its scholars in all levels nationwide. It has also donated food to its host communities as well as to health workers and personnel.

Having the most extensive service station network in the country, Petron’s wide presence is also proving valuable in boosting food accessibility through the initiatives of its parent company, San Miguel Corp. (SMC).

Petron stations now serve as sites for SMC Logistics' reefer van-cum-rolling stores, providing consumers with a safe and convenient way to shop for food items during the quarantine. The food trucks contain frozen poultry products, fresh and processed meats, and readyto-eat goods.

A number of Petron stations have become a venue for farmers in the province to sell their fresh harvest through a partnership with the Department of Agriculture.

Singapore-based firm eyes First Gen shares

By VG Cabuag @villygc

L

opez-led First Gen Corp. has initiated on Tuesday a one-day voluntary suspension of its shares for trading after Singapore's Valorous Asia Holdings Pte. Ltd. offered to buy as much as 9 percent of the company.

Valorous Asia will buy a minimum of 215.87 million shares and as much as 323.81 shares of First Gen, through a voluntary tender offer of the shares owned by the public.

The said shares are equivalent to 6 percent to 9 percent of First Gen, the company that owns power plants that use natural gas, geothermal, wind, hydro and solar power, all of which are operational and majority-owned and controlled by the Lopez firm.

“The request is also being made to allow

equal dissemination of such information, and protect the stock price,” First Gen said in its disclosure to the Philippine Stock Exchange.

Shares of the Lopez firm was last traded on Friday and closed at P17.74 apiece.

At the said stock price, Valorous Asia's tender offer is worth between P3.82 billion and P5.74 billion.

Valorous Asia will start its tender offer today, May 27.

First Gen reported a recurring attributable net income of P3.3 billion in the first quarter, a 15-percent drop, from last year's earnings of P4 billion.

“With this unforeseen pandemic, 2020 will be challenging for all. Though electricity is an essential need, First Gen has not been spared from the difficulties," said First Gen President and COO Francis Giles B. Puno.

“The lockdown imposed in March has

translated to lower electricity demand.

We are now more than ever strengthened in our strategy to catalyze the country’s movement towards a decarbonized future.

We believe that we should leave this place better than when we found it, and First Gen will play a catalyzing role producing more clean and renewable energy projects throughout the Philippines.”

Recurring earnings of First Gen’s natural gas-fired power plants declined in the first quarter. The gas plants suffered from lower electricity sales due to depressed demand with the commencement of the enhanced community quarantine (ECQ) in the middle of March, as well as higher operating expenses as it booked expenses to aid employees and third parties during the ECQ. The gas platform generated P2 billion for the period, lower than last year’s P2.4 billion.

UPS supports PHL fight against Covid-19

U

PS (NYSE:UPS), a global leader in logistics, has in the past month, supported the Philippines’s battle against the coronavirus pandemic as it facilitated the shipment of personal protective equipment (PPE), including hospital gowns and face masks to frontline workers.

Last month, in partnership with the Philippine Disaster Resilience Foundation (PRDF), the country’s major private sector vehicle and coordinator for disaster management, UPS supported the Philippines’ Department of Trade and Industry (DTI) and the Confederation of Wearable Exporters of the Philippines’ (CONWEP) shipments of medical-grade fabric from Shenzhen, China.

The strong demonstration of public-private partnership saw a total of 47 tons of medical-grade fabric delivered by UPS over multiple shipments, with the first shipment fulfilled within five days of the DTI-PDRF request.

The UPS Foundation, which leads the global citizenship programs for UPS, provided additional in-kind support by covering the freight charges for the shipments. Reliance Producers Cooperative, which is a Cavite-based manufacturer and a customer of UPS, will be producing isolation suits from the shipments, as part of CONWEP’s commitment to produce 10,000 PPE coveralls daily.

In a separate initiative, UPS Philippines also facilitated the shipment of necessary supplies to other areas in need in the country. UPS Philippines made possible the delivery of 132 boxes, equivalent to 1,000 kilograms, of PPE as well as food and supplements, laboratory supplies, and medi-

A UPS worker prepares to load boxes of face masks to be shipped to areas in need. CONTRIBUTED PHOTO

cines to the local government units in Iloilo and Bohol.

“UPS recognizes the urgent need to equip frontline medical personnel with the necessary personal protective equipment and meet the increasing demand for critical healthcare supplies. This is a global problem that requires concerted and timely effort by public and private stakeholders.

Whether it’s efficient domestic distribution of relief supplies or the shipment of healthcare products from

medical device manufacturers, we are proud to contribute to the pandemic effort by moving these goods through strategic partnerships worldwide,” said Chris Buono, UPS Managing Director for the Philippines and Indonesia.

Globally, UPS, through The UPS Foundation, has exceeded US$6 million in grants, logistics and transportation support and has collaborated with relief agencies and multinational organizations on initiatives to address the coronavirus pandemic.

ement manufacturer Holcim Philippines Inc. on Tuesday said it has restarted manufacturing and logistics operations in all its sites nationwide after pausing production in compliance with government’s lockdown measures to contain the spread of coronavirus disease 2019 (Covid-19).

The company started to reopen its plants and terminals in La Union, Bulacan, Manila, Batangas and Davao after national and local governments eased quarantine restrictions that started in the second half of March.

Holcim’s plant in Lugait, Misamis Oriental, sustained operations to support customers and construction activity in North Mindanao during this period.

Holcim President and CEO John Stull said the company has completed health and safety controls to protect its people and partners at its sites in line with government guidelines and best practices of the LafargeHolcim Group.

“We are ready to continue supporting our partners nationwide as they build important structures and contribute to reinvigorating the economy. Holcim Philippines is determined to ensure the well-being of our people, communities and business partners in our operations consistent with our core value of health and safety,” said Stull.

“Our company is also ready to share our ex-

pertise on this area to government and private sector partners to further contribute to the recovery efforts.”

Stull said the company’s facilities are in good condition and ready to ramp up operations to provide reliable supply as building and economic activity recovers.

He added that the company is well equipped with digital tools to ensure that support teams can still perform well while working from home, and provide customers reliable and efficient commercial transactions.

During the lockdown, Holcim Philippines installed new health facilities and rolled out safety protocols focused on social distancing, proper sanitation and hygiene and health monitoring at its sites. The company also extended assistance to host communities affected by the health crisis. VG Cabuag

SMC bares new Skyway traffic scheme

By Lorenz S. Marasigan @lorenzmarasigan

S

an Miguel Corp. (SMC) is closing the Skyway Alabang Toll Plaza Southbound Entry from May 31 until June 15, as it pushes to make up for lost time in constructing the P10-billion Skyway Extension.

To reduce the impact of this temporary closure, SMC advised private cars to take Filinvest Entry and/or National Road to Susana Heights Entry, while instructing trucks and buses to take National Road to Susana Heights Entry.

The diversified conglomerate resumed work on May 15, after a 60-day delay due to the lockdown brought about by the Covid-19 pandemic.

“We are happy to report that despite the long delay due to the enhanced community quarantine and the limited work force deployed, we’ve been gaining a lot of ground in

terms of construction these past two weeks.

Workers are also back at the site and earning income for their families. We’re asking for the public’s continued cooperation and kind understanding for any delays our work might cause,” said SMC President and CEO Ramon S. Ang. The P10-billion project will extend Skyway from Susana Heights in the South Luzon Expressway (Slex) to Sucat and back and will provide a direct access to the elevated section of the Skyway.

The project will also increase the number of lanes on both directions to five northbound and four southbound. With the direct access to the elevated section of the Skyway, the project is expected to ease traffic to and from the south.

It was scheduled to be completed by December 2020, but due to delays, Ang said its completion might be pushed back “a little.”

B2

Companies BusinessMirror

Wednesday, May 27, 2020

PSE STOCK QUOTATIONS

May 26, 2020

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

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

47 85.85 60.55 18.98 6.38 33.15 8.9 17.66 19.56 43.05 95 14.54 77.1 53.7 15.5 2.3 0.28 0.61 164.2 1555 0.96

47.9 85.9 63 19 6.4 33.2 9.48 19.38 19.6 43.45 105 15 77.25 54 15.6 2.31 0.3 0.62 165 1580 1.02

47 89 61.9 19.22 6.75 34 9.63 17.66 20.3 43.5 94.05 15.2 82.75 53.7 16 2.49 0.29 0.63 173.9 1580 1.05

47.9 89.4 63 19.22 6.75 34.05 9.63 17.66 20.5 43.5 95 15.2 82.75 54.5 16 2.49 0.29 0.63 173.9 1580 1.05

47 85.6 60 18.98 6.38 33.1 9.5 17.66 19.5 43 94.05 14.5 77 53.7 15.6 2.3 0.28 0.6 165 1580 1.02

47.9 85.9 63 18.98 6.38 33.2 9.5 17.66 19.56 43.05 95 14.54 77.1 53.7 15.6 2.3 0.28 0.62 165 1580 1.02

6000 5854260 2623190 757700 956500 3626000 300 100 125500 4900 200 29800 2920130 900 15100 23000 90000 699000 750 5 2000

282900 504689927 161817672 14428512 6220586 120867520 2876 1766 2475970 211030 18990.5 445618 228057904 48578 235790 53880 25400 424640 127337 7900 2070

INDUSTRIAL

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

2.03 0.8 26.05 0.16 53.3 270 11.18 2.92 2.22 10.92 16.46 7.55 6.94 2.57 73 11.24 15.1 4.2 4.81 7.63 61.35 0.53 1.2 29.5 119 5.4 0.115 1.91 5.48 1.7 1.48 0.102 120.6 0.75 1.03 8 4.43 7.4 4.7 0.73 0.63 1.72 2.29 3.2 4.3 22 1.39 5.26 1.11 1.25 7.36

2.04 0.83 26.8 0.162 53.35 274 11.2 2.93 2.43 11.2 16.56 7.62 7.06 2.58 84.95 12.94 15.2 4.5 4.85 7.69 61.5 0.54 1.21 29.9 119.4 5.49 0.139 1.92 5.51 1.72 1.49 0.113 121 0.76 1.04 8.05 4.5 7.6 4.72 0.74 0.64 1.73 2.3 3.45 4.59 22.75 1.41 5.3 1.13 1.27 7.39

2.14 0.9 26.5 0.162 54.45 275.6 11.72 3 2.46 11.28 16.9 7.76 7.15 2.75 73.15 12.14 15.22 4.64 5.16 7.68 62 0.55 1.25 29.3 133 5.6 0.12 1.91 5.67 1.72 1.33 0.102 123 0.79 1.09 8.3 4.85 7.77 5.06 0.78 0.63 1.74 2.47 3.45 4.3 22.75 1.43 5.58 1.22 1.36 7.7

2.15 0.9 26.8 0.162 54.45 275.6 11.82 3 2.46 11.28 16.92 7.79 7.35 2.76 73.15 12.96 15.22 4.64 5.16 7.7 64 0.55 1.25 30 134 5.6 0.121 1.92 5.68 1.76 1.5 0.102 123 0.8 1.09 8.3 4.87 7.84 5.06 0.78 0.63 1.74 2.47 3.45 4.3 22.75 1.44 5.58 1.22 1.36 7.74

2.03 0.83 25.6 0.162 53.1 267 11.04 2.9 2.38 11 16.4 7.5 6.9 2.54 73 12.12 15 4.2 4.81 7.63 60.8 0.54 1.2 29 117 5.25 0.12 1.91 5.47 1.67 1.33 0.102 119.2 0.75 1.02 7.9 4.41 7.35 4.6 0.73 0.63 1.72 2.22 3.45 4.3 22.75 1.35 5.25 1.11 1.21 7.06

2.04 0.83 26.8 0.162 53.3 274 11.2 2.93 2.43 11.18 16.46 7.62 7.08 2.57 73 12.94 15.1 4.2 4.81 7.68 61.35 0.54 1.21 29.9 119 5.49 0.121 1.91 5.51 1.71 1.48 0.102 120.6 0.76 1.04 8.05 4.43 7.6 4.7 0.74 0.63 1.72 2.29 3.45 4.3 22.75 1.41 5.26 1.13 1.25 7.36

8782000 178000 760500 50000 49100 296760 2604700 653000 154000 112700 597100 275500 289700 894000 400 2900 362700 119000 3347100 507000 435370 594000 12936000 36400 4724140 859000 20000 265000 935600 2748000 149000 20000 1492170 15669000 11516000 1232400 1349000 459600 6674100 94000 255000 10000 1309000 3000 2000 300 3501000 386400 833000 4730000 2212500

18188990 148730 19909070 8100 2619453 80365808 29446210 1916830 374220 1263950 9908862 2089279 2058730 2379740 29234 35358 5469380 508140 16618154 3903701 26912894 321880 15759750 1064995 571921056 4594727 2410 506170 5182603 4712010 212840 2040 180061385 12432820 12022990 9,881,671( 6087790 3498082 31,710,809( 70670 160650 17340 3030190 10350 8600 6825 4849380 2044170 942940 6004710 16276270

HOLDING & FRIMS

ABACORE CAPITAL ASIABEST GROUP AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL AYALA LAND LOG ANSCOR ANGLO PHIL HLDG ATN HLDG A ATN HLDG B COSCO CAPITAL DMCI HLDG FILINVEST DEV GT CAPITAL HOUSE OF INV JG SUMMIT LODESTAR LOPEZ HLDG LT GROUP METRO PAC INV PACIFICA HLDG PRIME MEDIA SOLID GROUP SYNERGY GRID SM INVESTMENTS SAN MIGUEL CORP SOC RESOURCES TOP FRONTIER WELLEX INDUS ZEUS HLDG

0.47 7.95 652 40.5 5.72 1.55 6 0.5 0.52 0.53 4.88 3.93 7.8 375.2 3.27 48.75 0.51 2.45 7.48 2.6 2.63 0.76 0.96 155 818.5 95.15 0.66 133 0.176 0.138

0.475 8.12 654 41.7 5.9 1.56 6.19 0.54 0.53 0.56 4.92 3.94 8.15 375.4 3.43 48.8 0.53 2.46 7.49 2.61 2.88 0.78 0.98 159 838 96 0.67 135.6 0.177 0.143

0.485 7.96 660 41 6.14 1.63 6.19 0.5 0.52 0.53 5 4.1 8.15 375 3.35 49 0.53 2.45 7.51 2.7 2.63 0.76 0.99 160 820 95.95 0.67 129 0.189 0.142

0.5 8.15 673 41.7 6.14 1.63 6.19 0.51 0.52 0.57 5 4.1 8.15 380 3.36 49 0.53 2.48 7.62 2.72 2.63 0.79 0.99 160 838 96.45 0.67 135.6 0.189 0.142

0.465 7.95 646 40.3 5.61 1.53 6.19 0.5 0.51 0.53 4.83 3.92 8 372.8 3.3 45.5 0.51 2.45 7.44 2.6 2.62 0.76 0.96 159 805 94.4 0.67 129 0.177 0.142

0.475 8.11 654 41.7 5.9 1.56 6.19 0.5 0.52 0.53 4.92 3.93 8.1 375.4 3.3 48.8 0.53 2.45 7.49 2.6 2.62 0.79 0.97 159 838 96 0.67 135.6 0.177 0.142

4570000 3600 289700 822300 4899200 3451000 1500 183000 2251000 501000 666000 6138000 2000 140590 38000 766700 4000 1702000 1785600 42325000 27000 14000 54000 260 241460 165590 69000 110 1510000 50000

278110 -378205088 -2813170.5 -2656554 -2978390 -20578800 -467489.0003 -126051511 52170 -128680 -2737390 -1721654 -18908042 -1482752 -159770 2200 1629232 31542 168420 867260 -265782 5776314 -3850000 19732044.5 -179350 -208543553 1336263 2320947 -8720 -31339610 -15200 -474470 2,721,979.9997) 76370 -37000 5,987,033.0002) 55500 -1400 61085 -114000 213775

2192300 28740 189400040 33776870 28690047 5407680 9285 91710 1164050 265570 3273180 24,363,520( 16205 52751142 126760 36917445 2090 4176340 13414761 111034680 70790 10670 52660 41460 199326885 15843998 46230 14841 269380 7100

-201050 6787995 -13827940 -7232294 1322120 -6190 -0 230280 1,255,390.0003) -4075 -17186824 -33400 -18381955 -1518280 -1005341 -22553960 57640 -15240480 -198121 12261 -

PROPERTY ARTHALAND CORP 0.5 0.51 0.52 0.52 0.5 0.5 239000 122650 29.9 29.95 31 31.45 29.65 29.9 18646400 559857785 AYALA LAND 1.02 1.03 1.03 1.03 1.02 1.02 20000 20490 ARANETA PROP 1.32 1.36 1.35 1.35 1.32 1.35 206000 275880 BELLE CORP 0.53 0.54 0.54 0.54 0.52 0.54 206000 109030 A BROWN CROWN EQUITIES 0.119 0.124 0.123 0.123 0.12 0.12 580000 69960 3.78 3.83 3.85 3.97 3.8 3.83 1555000 5977310 CEB LANDMASTERS CENTURY PROP 0.33 0.335 0.34 0.34 0.325 0.33 10690000 3557850 DOUBLEDRAGON 16.76 16.96 17.8 18 16.22 16.96 798700 13677816 DM WENCESLAO 6.44 6.45 6.5 6.5 6.45 6.45 33600 216977 0.285 0.295 0.305 0.315 0.285 0.285 160000 47200 EMPIRE EAST 0.132 0.133 0.127 0.14 0.12 0.132 19640000 2616970 EVER GOTESCO 0.91 0.92 0.92 0.93 0.9 0.91 7660000 6992820 FILINVEST LAND 0.79 0.81 0.81 0.81 0.78 0.78 906000 709510 GLOBAL ESTATE 10.06 10.3 10.1 10.12 10.06 10.06 11200 113220 8990 HLDG PHIL INFRADEV 0.77 0.78 0.83 0.83 0.76 0.78 1988000 1573240 KEPPEL PROP 3.16 3.45 3.7 3.7 3.45 3.45 11000 38950 2.57 2.59 2.65 2.67 2.54 2.59 9503000 24557620 MEGAWORLD MRC ALLIED 0.141 0.142 0.147 0.147 0.14 0.142 4480000 637270 0.27 0.295 0.27 0.29 0.255 0.285 300000 79250 PHIL ESTATES 1.44 1.49 1.45 1.5 1.45 1.5 11000 16000 PRIMEX CORP 14.48 14.5 14.58 14.7 14.24 14.5 5226000 75647814 ROBINSONS LAND 0.23 0.244 0.231 0.233 0.226 0.226 870000 200040 PHIL REALTY 1.44 1.47 1.49 1.49 1.43 1.44 39000 56240 ROCKWELL 2.55 2.61 2.66 2.66 2.55 2.55 291000 754510 SHANG PROP STA LUCIA LAND 1.86 1.91 1.92 1.92 1.92 1.92 1000 1920 28.8 29.5 29 29.5 28.75 29.5 4574400 133078590 SM PRIME HLDG VISTAMALLS 3.54 3.74 3.61 3.75 3.54 3.54 36000 130590 1.15 1.16 1.19 1.19 1.12 1.15 980000 1132530 SUNTRUST HOME 31.55 44.95 44.95 44.95 44.95 44.95 1900 85405 PTFC REDEV CORP 3.31 3.35 3.39 3.44 3.3 3.35 3564000 11918330 VISTA LAND

-244844795 -5370 -3334570 42900 -1257284 -279160 1710960 63840 6680130 -7265054 -322640 -24748145 -4561450

SERVICES ABS CBN 14.48 14.5 15.72 15.72 13.9 14.5 1000900 14852536 4.7 4.71 4.85 4.9 4.7 4.7 1361000 6507200 GMA NETWORK 0.36 0.37 0.37 0.37 0.37 0.37 90000 33300 MANILA BULLETIN 16.2 17.96 17.8 18.98 16.02 17.96 29000 494702 MLA BRDCASTING 2234 2250 2220 2260 2182 2250 84020 186780000 GLOBE TELECOM PLDT 1212 1213 1211 1224 1190 1212 56950 68751690 APOLLO GLOBAL 0.039 0.04 0.04 0.04 0.039 0.04 5400000 211000 2.16 2.17 2.23 2.25 2.12 2.17 29130000 63217440 DITO CME HLDG IMPERIAL 1.26 1.53 1.21 1.25 1.21 1.25 31000 38710 1.61 1.62 1.71 1.71 1.6 1.61 2017000 3261890 NOW CORP 0.17 0.171 0.18 0.185 0.171 0.171 3670000 643080 TRANSPACIFIC BR 2.14 2.21 2.31 2.34 2.1 2.14 2189000 4753830 PHILWEB 8.9 9.58 9.55 9.65 8.8 9.58 88400 812461 2GO GROUP 15.7 16.5 15.7 16.5 15.7 16.5 200 3220 ASIAN TERMINALS 2.88 2.9 3 3.02 2.87 2.88 720000 2107030 CHELSEA CEBU AIR 31.2 32.1 35.35 35.5 31.05 31.2 861700 28172400 INTL CONTAINER 83 85.3 85 85.45 81.45 85.3 512050 42768844.5 LBC EXPRESS 12.52 13.78 13.88 13.88 13.88 13.88 200 2776 0.71 0.76 0.72 0.72 0.71 0.71 39000 27800 LORENZO SHIPPNG 3.63 3.65 3.91 3.91 3.63 3.63 3645000 13483970 MACROASIA 2.45 2.47 2.51 2.56 2.35 2.45 3079000 7521820 METROALLIANCE A - 2.74 2.75 2.75 2.75 2.75 3000 8250 METROALLIANCE B 6 6.15 6.28 6.28 6 6.15 17800 110295 PAL HLDG 0.7 0.77 0.79 0.79 0.7 0.7 454000 328270 HARBOR STAR 1.05 1.08 1.08 1.08 1.08 1.08 11000 11880 ACESITE HOTEL BOULEVARD HLDG 0.024 0.025 0.025 0.025 0.024 0.025 10200000 254800 0.37 0.385 0.365 0.38 0.365 0.37 990000 367050 WATERFRONT 0.28 0.29 0.29 0.295 0.28 0.29 8630000 2455050 STI HLDG BERJAYA 2.01 2.05 2.05 2.09 2 2.05 210000 422180 5.31 5.32 5.34 5.35 5.27 5.31 2912900 15443769 BLOOMBERRY 1.7 1.91 1.82 1.91 1.82 1.91 12000 21930 PACIFIC ONLINE 1.42 1.44 1.44 1.44 1.44 1.44 133000 191520 LEISURE AND RES 2.09 2.12 2.2 2.2 2.09 2.09 108000 228220 PH RESORTS GRP 0.28 0.29 0.295 0.295 0.275 0.29 2930000 842750 PREMIUM LEISURE ALLHOME 5.32 5.33 5.69 5.69 5.32 5.33 2437300 13197942 METRO RETAIL 1.54 1.55 1.6 1.6 1.46 1.55 2905000 4425190 PUREGOLD 46.45 46.5 46.35 46.9 46.05 46.5 6806100 316352030 ROBINSONS RTL 69 69.05 69.8 69.8 67.7 69 701230 48086178.5 PHIL SEVEN CORP 130 130.1 131 131 130 130 159150 20689575 1.05 1.06 1.11 1.11 1.03 1.06 2903000 3086100 SSI GROUP 15 15.06 15.28 15.28 14.92 15 919300 13787498 WILCON DEPOT 0.29 0.295 0.295 0.295 0.29 0.29 360000 104650 APC GROUP 6.7 6.95 6.75 7 6.7 6.7 28000 188113 EASYCALL 295 300 300 300 295 295 70 20950 GOLDEN BRIA PAXYS 2.14 2.18 2.14 2.14 2.14 2.14 8000 17120 0.195 0.199 0.21 0.21 0.191 0.199 3450000 688240 PRMIERE HORIZON

-48886590 -11126630 456130 -17070 28452 144500 -12729840 3103376.5 232610 18600 -430149.9997 5636423 4400 1954336 767010 39001455 -12499881 68900 -126760 10368044 -

MINING & OIL ATOK 10 10.22 10.2 10.24 9.8 10.22 30000 296495 0.91 0.92 0.9 0.93 0.9 0.93 1329000 1220160 -212040 APEX MINING 0.0009 0.001 0.001 0.001 0.0009 0.0009 916000000 831900 71800 ABRA MINING 1.8 1.91 1.8 1.8 1.8 1.8 134000 241200 ATLAS MINING BENGUET B 0.95 1.2 0.95 0.95 0.95 0.95 2000 1900 0.158 0.182 0.171 0.171 0.17 0.171 360000 61260 COAL ASIA HLDG 2.68 2.71 2.68 2.71 2.68 2.71 42000 113460 81300 CENTURY PEAK FERRONICKEL 0.73 0.74 0.76 0.76 0.7 0.73 4512000 3274070 -12240 GEOGRACE 0.199 0.203 0.2 0.205 0.199 0.199 150000 30200 0.075 0.078 0.075 0.079 0.073 0.078 3890000 294750 LEPANTO A 0.075 0.082 0.075 0.075 0.075 0.075 20000 1500 LEPANTO B 0.0063 0.0064 0.0066 0.0066 0.0063 0.0063 2000000 12900 MANILA MINING A 0.007 0.0079 0.007 0.007 0.007 0.007 2000000 14000 MANILA MINING B 0.5 0.51 0.51 0.51 0.5 0.5 241000 120520 MARCVENTURES NIHAO 0.99 1.01 1.01 1.03 0.99 1 87000 86770 1.46 1.5 1.56 1.56 1.45 1.46 10515000 15617030 -2767810 NICKEL ASIA ORNTL PENINSULA 0.475 0.49 0.48 0.49 0.48 0.49 20000 9700 2.3 2.35 2.36 2.41 2.26 2.3 544000 1267930 -266050 PX MINING SEMIRARA MINING 10.92 11 11.3 11.3 10.9 11 717000 7914072 -1319702 6.21 6.55 6.27 6.7 6.22 6.22 139800 885295 ACE ENEXOR 0.0084 0.0087 0.0086 0.0086 0.0086 0.0086 1000000 8600 ORNTL PETROL A 0.0078 0.008 0.008 0.008 0.008 0.008 23000000 184000 PHILODRILL 4.55 4.58 4.91 5.11 4.51 4.55 4286000 20455900 421640 PXP ENERGY

PREFFERED HOUSE PREF A 98 99.4 99.4 99.4 99.4 99.4 130 12922 500.5 507 500.5 500.5 500.5 500.5 270 135135 AC PREF B1 100 100.5 100 100 100 100 1400 140000 ALCO PREF B 498 500 498 498 498 498 520 258960 AC PREF B2R DD PREF 100 100.8 99.85 100 99.85 100 18030 1800750 960 990 990 990 990 990 900 891000 GTCAP PREF A 985 999 983 999 981.5 985 3310 3286590 GTCAP PREF B 99.7 100 100 100 100 100 80620 8062000 10000 MWIDE PREF PNX PREF 3A 98.5 100 100 100 100 100 500 50000 50000 997 999 999 999 997 999 1390 1388510 PNX PREF 4 1000 1050 1040 1040 1040 1040 15 15600 PCOR PREF 2B 1023 1027 1024 1026 1023 1023 2095 2145710 PCOR PREF 3A 1040 1053 1023 1023 1023 1023 350 358050 PCOR PREF 3B 77.5 77.6 77.1 77.5 76.9 77.5 20050 1547364.5 SMC PREF 2C SMC PREF 2D 74.2 75.1 74.15 75.1 74.1 75.1 986000 74041900 75.5 75.8 75.8 75.8 75.8 75.8 320 24256 SMC PREF 2E 77 77.05 76.5 77.15 76.5 77.05 1053520 81106087 -1535000 SMC PREF 2F SMC PREF 2G 75.3 75.5 75.4 75.5 75.4 75.5 9960 750994 75400 SMC PREF 2I 76.5 76.9 76.5 76.5 76.5 76.5 910 69615

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 13.52 14.98 14.6 14.6 13.42 13.52 114300 1621492 -920480 4.65 4.87 4.71 4.71 4.71 4.71 2000 9420 GMA HLDG PDR

WARRANTS LR WARRANT 0.66 0.72 0.69 0.69 0.67 0.67 69000 46710

SMALL & MEDIUM ENTERPRISES ITALPINAS 1.67 1.68 1.72 1.8 1.66 1.67 2222000 3788150 239420 5.8 5.9 6.08 6.08 5.8 5.9 27400 164085 KEPWEALTH 0.57 0.58 0.58 0.6 0.57 0.57 1011000 585380 XURPAS

EXHANGE TRADE FUNDS

FIRST METRO ETF 83.6 83.7 85 85 83.5 83.7 22040 1849037 105474

www.businessmirror.com.ph

NTC asks SC to junk petition of ABS-CBN to nullify CDO

By Joel R. San Juan @jrsanjuan1573

& Jovee Marie N. Dela Cruz

T

@joveemarie

HE National Telecommunications Commission on Tuesday asked the Supreme Court to junk the petition filed

by ABS-CBN Corp. seeking to set aside the NTC’s cease and desist order (CDO) following the expiration of the company's franchise.

In a 99-page comment to the certiorari and prohibition with urgent application for the issuance of a temporary restraining order (TRO) and/or a writ of preliminary injunction filed by ABS-CBN, the NTC through Solicitor General Jose Calida insisted that there was no grave abuse on the part of the agency to warrant the nullification of the CDO. Calida added that the NTC was merely performing its administrative duty in issuing the CDO since it is the administrative agency tasked to regulate and supervise radio and television broadcast stations.

“In the same vein, when the franchise granted to the franchisee ends and the broadcast media station is unable to secure another franchise to operate television station and the necessary permits from the NTC, the latter shall implement the law and order the franchisee to cease broadcasting operations,” the NTC said.

It added that under the 2006 NTC Rules of Practice and Procedure, the NTC has the power to motu propio issue a CDO to any broadcasting companies that does not have any authority to operate.

The SC, according to Calida, should also not take jurisdiction over the petition since the grant of legislative franchise is a political question, which is beyond the scope of the Court’s power of judicial review.

The NTC also countered the broadcasting network’s argument that the CDO violates its right to equal protection considering its previous practice allowing other companies to operate despite the expiration of their franchises by issuing a provisional authority to operate.

Calida said such practice “cannot be the source of a demandable right.”

He explained that in issuing the assailed CDO, the NTC was actually trying to put an end to “erroneous” past practice of allowing mass media entity to continue its broadcast operations during the pendency of its franchise application in Congress.

“ABS-CBN’s continued broadcast operations cannot be based on wrongful past practice. ABS-CBN is not similarly situated with other entities that were allowed to operate after the expiration of their franchises,” said Calida.

He said ABS-CBN is being accused of committing statutory and constitutional violations while the other companies which the petitioner cited in its petitions did not face such issues.

“Respondent NTC thus decided to strictly enforce the law and prudently issued the assailed CDO. Plainly, the NTC’s exercise of its discretion cannot be considered grave abuse of discretion,” said Calida.

The NTC argued that the CDO did not curtail ABS-CBN’s right to freedom of speech and of the press nor denied the public of its right to information. “These claims, part from being baseless, constitute an unfair attempt to pillory the NTC for merely performing its duties.”

The agency pointed out that ABS-CBN has remained present in various digital platforms despite the assailed CDO. “This unfettered and continued digital presence militates against the petitioner’s invocation of its alleged right to freedom of speech and of the press,” the NTC said.

The NTC also said ABS-CBN's alleged loss of advertising revenues does not constitute irreparable damage that warrants the issuance of a TRO in favor of the petitioner.

It added that the act sought to be enjoined is already considered fait accompli (accomplished fact) after the broadcasting company promptly complied with the CDO by stopping radio and TV broadcasts.

Allegations

During the joint hearing of the House Committee on Legislative

Concerns over lockdown weigh on financial shares

By Tyrone Jasper C. Piad @TyronePiad

F

inancial stocks slumped on Tuesday, along with the benchmark index, as investors continue to await the government’s decision on whether it will further ease the lockdown in some cities.

The financial stocks were among the biggest losers after declining by 2.30 percent, or 25.34 points, to settle at 1,077.16. Year-to-date, shares in financial sector have gone down by 41.2 percent.

Shares in industrial sector fell by 2.91 percent; mining and oil, 2.86 percent; property, 0.75 percent; and services, 0.20 percent. Holding firms saw an uptick of 0.03 percent.

“Investors remained on the sidelines awaiting the latest update from government on how businesses in general would be conducted after May,” said Regina Capital Development Corp. head of sales Luis Limlingan.

Timson Securities Inc. trader Darren Pangan agreed with Limlingan, noting that investors are currently in a risk-off mode.

“The reopening of the economy may be one catalyst that could drive the financial sector upward,” said Pangan.

The community quarantine, in varying degree and conditions, was extended until May 31. The Inter-Agency Task

Force is expected to make an announcement regarding the matter soon.

BDO Unibank Inc. shares were the most actively traded among financial stocks, with value turnover amounting to P504.69 million.

It was followed by Security Bank Corp. with traded shares valued at P228.06 million; Bank of the Philippine Islands (BPI), P161.82 million; and Metropolitan Bank & Trust Co. (Metrobank), P120.87 million.

All the financial stocks were down except for BPI which rose by 1.12 percent to P63 each. Shares in Union Bank of the Philippines, meanwhile, were flat at P53.70 apiece.

Shares in BDO fell by 4.13 percent to P85.90; China Banking Corp., 1.25 percent to P18.98; East West Banking Corp., 4.49 percent to P6.38; Metrobank, 2.35 percent to P33.20; Philippine National Bank, 2.2 percent to P19.56; Rizal Commercial Banking Corp., 5.58 percent to P14.54; and Security Bank, 6.83 percent to P77.10.

Meanwhile, the Philippine Stock Exchange index slid 0.77 percent, or 42.36 points, to finish at 5,496.83, while the wider All Shares slipped 1.10 percent, or 36.96 points, to end at 3,313.02.

Overall, Jollibee Foods Corp. shares were the most traded on Tuesday with a value turnover of P571.92 million. Its stocks, however, were down 10.53 percent to P119 each.

Franchises and Committee on Good Government and Public Accountability, Sagip Rep. Rodante Marcoleta raised allegations of tax evasion against the company, the foreign ownership issue as well as questions about the citizenship of ABS-CBN Chairman Emeritus Gabby Lopez III. According to Marcoleta, ABS-CBN has violated the terms and conditions of its franchise by engaging in tax avoidance schemes which deprived the government of the much needed revenue.

“It used its fully-owned subsidiary Big Dipper Digital Content and Design, Inc., a company registered with the Philippine Economic Zone Authority, as tax shield,” said the lawmaker.

“Its main customer is ABS-CBN Hungary and because of this unconscionable tax avoidance scheme, ABS-CBN alleged effective tax rate in 2018 was at -5 percent. This means that abs-cbn managed to avoid paying taxes in 2018.”

In 2019, he claimed that the TV giant also did not pay the right taxes again.

“It avoided this by entering into compromise agreement with the Bureau of Internal Revenue [BIR] with the latter accepting the settlement of P152 million plus from ABS-CBN, equivalent to 40 percent to its assessed deficiency in in taxes, value added tax, and documentary stamp tax payments,” he said.

“But this is only one among the four other cases by the BIR at the Court of Tax appeals all of which were

mutual funds

also settled by compromise.”

Also, the lawmaker said the Constitution indicates that Congress can grant a franchise of up to 50 years only.

“The committee should not allow itself to be used by ABS-CBN to again circumvent the Constitution and violate the categorical 50 yearlimitation imposed on franchises,” he said.

Job losses

During the hearing, ABS-CBN President Carlo Katigbak said a list of workers, who will be dismissed due to the shutdown of its TV and radio stations, will be released soon.

“We want to do everything we can to protect our employees but there's a limit to what the company can do.

While we are off the air, our losses will continue to pile up,” said Katigbak in a mix of English and Filipino.

“We appeal to you to please allow ABS-CBN to reopen so we can protect our 11,000 workers and their loved ones,” he added.

Also, Katigbak maintained that, “the law is the law. And under the law we are innocent unless proven guilty. Up to now, there is no court that has determined we have broken any laws.”

The NTC has ordered the ABSCBN to stop the operations of its television and radio stations since the broadcast firm no longer has a franchise. ABS-CBN Convergence’s franchise expired last March 17, while ABS-CBN Corp.’s franchise ended on May 4.

May 26, 2020

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 182.99 -29.78% -12.58% -8% -27.35% ATRAM Alpha Opportunity Fund, Inc. -a 0.9282 -41.9% -16.15% -9.18% -32.84% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.4532 -39.53% -17.11% -10.78% -33.3% Climbs Share Capital Equity Investment Fund Corp. -a 0.6343 -31.85% n.a. n.a. -29.29% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6613 -23.57% n.a. n.a. -22.14% First Metro Save and Learn Equity Fund,Inc. -a 4.0105 -25.91% -9.36% -7.15% -24.73% First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.6174 -28.71% -13.3% n.a.

-27.67% MBG Equity Investment Fund, Inc. -a 74.02 -40.28% n.a. n.a. -28.37% PAMI Equity Index Fund, Inc. -a 36.5368 -29.09% -11.24% n.a. -28.75% Philam Strategic Growth Fund, Inc. -a 394.16 -26.62% -10.35% -7.06% -26.02% Philequity Alpha One Fund, Inc. -a,d,5 0.8341 n.a. n.a. n.a. -19.03% Philequity Dividend Yield Fund, Inc. -a 0.9409 -28.02% -10.32% -6.37% -26.89% Philequity Fund, Inc. -a 27.5612 -28.18% -9.93% -6.23% -27.27% Philequity MSCI Philippine Index Fund, Inc. -a 0.7232 -30% n.a. n.a. -28.97% Philequity PSE Index Fund Inc. -a 3.7223 -28.72% -10.74% -6.22% -28.74% Philippine Stock Index Fund Corp. -a 622.25 -28.61% -10.72% -6.44% -28.65% Soldivo Strategic Growth Fund, Inc. -a 0.5711 -38.23% -14.31% -10.21% -32.92% Sun Life Prosperity Philippine Equity Fund, Inc. -a 2.9216 -31.7% -11.59% -7.35% -30.59% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.7138 -28.78% -10.88% -6.37% -28.68% United Fund, Inc. -a 2.6723 -27.94% -8.71% -5.26% -26.85% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 83.4417 -28.51% -10.27% -5.64% -28.65% ATRAM AsiaPlus Equity Fund, Inc. -b

$0.8959 -6.26% -2.75% -3.87% -12.88% Sun Life Prosperity World Voyager Fund, Inc. -a $1.2936 2.29% 3.94% n.a.

-6.17% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.4945 -12.47% -5.72% -4.89% -4.37% ATRAM Philippine Balanced Fund, Inc. -a 1.947 -14.99% -6.22% -3.64% -10.73% First Metro Save and Learn Balanced Fund Inc. -a 2.3212 -11.35% -3.54% -4.4% -11.79% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1812 n.a. n.a. n.a.

-20.7% NCM Mutual Fund of the Phils., Inc. -a 1.7792 -7.16% -2.26% -1.59% -9.37% PAMI Horizon Fund, Inc. -a 3.2991 -9.99% -4.08% -3.14% -12.93% Philam Fund, Inc. -a 14.7447 -10.87% -4.26% -3.25% -13.06% -3.02% -14.03% Solidaritas Fund, Inc. -a 1.8275 -14.31% -5.2% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.1075 -18.86% -6.32% -4.33% -19.57% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.8922 -10.34% n.a. n.a.

-12.16% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.7804 -21.24% n.a. n.a. -21.68% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.7557 -23.57% n.a. n.a. -23.91% Sun Life Prosperity Dynamic Fund, Inc. -a 0.7649 -21.88% -7.42% -5.79% -21.53% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03828 4.7% 2.48% 1.54% 0.13% PAMI Asia Balanced Fund, Inc. -b $0.9427 -0.76% -0.69% -1.73% -9.17% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $3.6907 0.66% 2.8% 2.01% -5.63% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.0787 - 0.12% 1.21% n.a.

-4.44% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 363.54 4.21% 3% 2.46% 1.6% ATRAM Corporate Bond Fund, Inc. -a 1.9337 2.53% 1.01% -0.12% 1.67% Cocolife Fixed Income Fund, Inc. -a 3.1765 4.72% 5.13% 5.09% 1.93% Ekklesia Mutual Fund Inc. -a 2.2785 5.11% 2.76% 2.23% 2.4% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4271 6.95% 3.09% 1.85% 2.88% 3.71% 2.23% 3.52% Philam Bond Fund, Inc. -a 4.5268 11.2% Philam Managed Income Fund, Inc. -a,6 1.2832 6.69% 3.77% 2.04% 2.11% Philequity Peso Bond Fund, Inc. -a 3.9042 7.6% 3.96% 2.09% 3.06% Soldivo Bond Fund, Inc. -a 1.022 10.74% 3.34% 1.57% 5.98% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1374 8.03% 4.57% 2.8% 2% Sun Life Prosperity GS Fund, Inc. -a 1.7312 7.54% 4.05% 2.33% 1.77% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $470.91 3.34% 2.37% 2.51% 0.57% ALFM Euro Bond Fund, Inc. -a Є214.6 -0.66% 0.58% 0.74% -2.33% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2129 3.56% 2.68% 2.27% 0.47% 1.32% 1.12% 0.39% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0259 1.97% PAMI Global Bond Fund, Inc -b $1.0619 -0.68% -0.34% -0.26% -3.04% Philam Dollar Bond Fund, Inc. -a $2.4143 5.77% 2.95% 2.55% 0.44% Philequity Dollar Income Fund Inc. -a $0.0599531 2.36% 1.64% 1.54% -0.6% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1716 5.85% 2.2% 2.05% -0.12% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 127.67 3.81% 3.12% 2.37% 1.5% First Metro Save and Learn Money Market Fund, Inc. -a 1.0388 2.67% n.a. n.a.

1.22% 3.28% 3.01% 2.55% 1.2% Sun Life Prosperity Money Market Fund, Inc. -a 1.2798 Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0425 1.63% n.a. n.a.

0.51% 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."

Entrepreneur BusinessMirror

Editor: Vittorio V. Vitug • Wednesday, May 27, 2020 B3

Global movement to train entreps, academicians, leaders to help PHL bounce back from Covid-19

By Roderick L. Abad

T

@rodrik_28

Contributor

EN million entrepreneurs, educators and leaders in both the public and private sectors will undergo training from the BounceBack Global Movement via its Digital Bayanihan Initiative (DBI) with the end-goal of helping the Philippines recover from the coronavirus disease 2019 (Covid-19) pandemic.

The DBI will enable Filipinos develop validated digital competencies of international caliber that will allow them to become resilient and pick up better than ever from the crisis.

The training will be provided through BounceBack Academy’s Digital Certification programs in collaboration with different communities and training providers.

“There are a lot of free Webinars now on digital transformation, resiliency and business continuity strategies but there’s no common road map that will guide entrepreneurs, or MSMEs [micro, small and medium enterprises], educators and leaders in their digital transformation journey,” said Jason de la Rosa, BounceBack movement founder.

“What we did is we codified and curated the Webinars that transpired in our platform and fused them with The Practical and Resilient Entrepreneur framework and developed several training and certification courses,” he added.

BounceBack also kicked off digital certification programs, with three levels of proficiency—Adept, Expert and Master.

For MSMEs, interested participants can enlist and become a certified digital entrepreneur, or a certified digital business leader.

Those in the education sector, on the other hand, can be a certified digital educator, certified digital education leader, certified digital course developer, and certified digital edupreneur.

Meanwhile, public servants can be a certified digital governance leader, or certified digital enforcers (Cybersecurity, Data Privacy and Audit), as risk and audit practitioners can be a certified digital auditor, or a certified digital asset manager.

Such training and certification programs are based on competencies and aligned toward global standards and best practices, according to BounceBack Movement cofounder Gelix Mercader.

He cited that content partners, speakers and mentors are signing up to the training so as to share their passion and help participants bounce back from this international health emergency.

Mercader, who is also the head

of BounceBack Academy, bared the introduction of an academic study initiative to be funded through partnerships.

“We are launching a scholarship program for them so MSMEs, educators, leaders and government civil servants will be trained for free and help them in their journey to become better after the crisis,” he noted.

Dubbed the “BounceBack Digital Bayanihan Initiative Scholarship Program,” it will inaugurate with 1,000 individuals to be granted with full scholarships, he said.

“The Top 100 will also get the BounceBack DBI Online Starter Kit consisting of a laptop, one-year mobile Internet access and exclusive access to BounceBack Academy and the Practical Learning Co. content.

About 10,000 individuals will also be given partial scholarships,” Mercader elaborated further.

The DBI Scholarship Fund, he said, will be raised from the

proceeds of all of their online events, including the upcoming education and MSME virtual conferences and expositions.

“So we’re going to rely on the kindness and generosity of those who wish to see the country bounce back from the pandemic,” he stressed.

What started only as an online community on Facebook last March, the BounceBack Global Movement has grown with more than 110,000 members, industry vertical communities, regional and city-based groups, as well as global communities based in the United Arab Emirates, Singapore and Malaysia.

Its BounceBack Education began in April and now has over 65,000 members and growing. BounceBack Academy is an informal virtual learning space of the movement that provides Webinars and other online learning events for those who need guidance on how to endure and recover toward the new normal.

For interior designer cum entrep Jabile-Ejercito, the home is the new world in the age of pandemic

By Rizal Raoul S. Reyes

rest of the project team for the design process. “Floor plans and images of fabrics and finishes are sent electronically to give the team direction. Design decisions can be made virtually to keep the design process moving forward,” she says.

The routine in the office will now be work from home until a cure and vaccine have been found.

Coordination and collaborations of design and construction companies will be done electronically. “I am ready to meet the challenges,” she says.

@brownindio Contributor

Alternative enterprise

JoyRide recently signed a memorandum of agreement (MOA) with the local government of Antipolo City that will give the existing 15,000 tricycle drivers an opportunity for an alternative means of livelihood as independent delivery service riders, through the mobile app platform of JoyRide and Happy Move. Signing for the JoyRide, Happy Move partnership with Antipolo City were (from left): Mayor Andrea Bautista Ynares; Sherwin Yu, president of JoyRide; and Noli Eala, vice president for corporate affairs of JoyRide.

Cherry Cruz: Coffee princess shines in time of contagion

T

he current health crisis has forced many people to adjust their lifestyle. Being extrovert by nature, Filipinos have been drastically affected as they were not able to pursue their regular activities like shopping, malling and drinking coffee in their favorite coffee shop.

To bring back a sense of normalcy to the lives of coffee lovers, local coffee distributor Equilibrium Intertrade Corp. will resume its online and delivery service and, at the same time, revamp its web site platform to make its online ordering more seamless for its customers.

With people staying at home and being forced to practice social distancing, delivery services have grown exponentially. Moreover, limited access to shops pushed consumers and business owners to come up with alternative ways to sustain operations without violating quarantine protocols.

Online ordering system

Cherry Cruz, Equilibrium chief executive officer and founder, noted the company has responded to the coffee woes of local coffee aficionados by introducing their enhanced online ordering system, which allows customers to enjoy their café-grade products in the comfort of their homes sans physical contact and exposure to infection, while protecting company employees.

Meanwhile, a skeletal force is in charge of deliveries while the dedicated customer support team works remotely from their homes.

“We assure our customers that their orders are prepared by qualified staff who underwent strict food sanitation and handling orientation. They will strictly observe social distancing and safety precautions as they service the orders,” Cruz shared in an e-mail interview with the BusinessMirror.

Equilibrium offers Philippine locally sourced coffee beans from Curve Coffee Collaborators, a native roaster and distributor of Philippine specialty coffee.

“If you’re particular with your

beans, no problem! You can still have your cup of premium coffee made from beans of your preferred origin right at the comfort and safety of your sanctuary,” says Cruz.

Choices

Customers can choose from five types of proudly Pinoy blends to fill their basket: Maisog, Atin Ito, Balisong, Italian and Dayuhan. Each type of blend is distinguished by its unique flavor notes and bean origins. With the rise of quality local brews and the limitations of imported goods, there’s no better time to support local coffee farmers than now.

For the professional that usually has their cold brew to-go (but currently can’t go), homemade ready-to-drink Cold Brew coffees in 250ml bottles are also part of the delivery list. These brews are available in three flavors: Black Mamba Coffee Concentrate, Mestiza Brew (Coffee + White Chocolate), and Mocha (Coffee + Dark Chocolate)—all made to make that morning or midday pick-me-up beverage easier to prepare in the middle of all the virtual meetings.

For tea lovers, Equilibrium has also included Dilmah Tea’s range of ethical teas in the merchandise lineup. With relaxing notes and refreshing flavors, Dilmah teas embody a unique heritage of single origin tea from Ceylon, prepared using orthodox processes, for that perfect cup at home.

And even when the cafés are closed down for the usual flavored

coffee and blended beverage fix, Equilibrium offers homebodies a chance to play barista. Coffee lovers can stock up on Torani flavored syrups and sauces, milk, frappe powders, and smoothie mixes to go with their brews that are sure to make quarantine beverage experiments all the more exciting.

Right on your doorstep

With Equilibrium’s delivery service, Cruz pointed out there is comfort in knowing that coffee cravings can now be satiated alongside the food delivery that everyone is loving right now.

“For now, you may not be able to chat with the barista or sit on your favorite spot in your favorite café, but you can still have your usual ‘coffee run’ at home,” says Cruz.

Salute to frontliners

AS a show of appreciation to the medical frontliners, Equilibrium is also keeping the country’s medical heroes refreshed and perked up with their coffee, teas, and ready-to-drink beverages, which they donate to different hospitals. The hardworking doctors, nurses and staff from Asian Hospital, San Lazaro Hospital and Research Institute for Tropical Medicine had a taste of Equilibrium’s Cold Brew coffees in partnership with Philippine Coffee Guild through its #CoffeeCaresPH campaign. A list of selected hospitals are due to receive their own supply of refreshing brew as well.

Rizal Raoul S. Reyes

I

N these challenging times, it is imperative for entrepreneurs to be innovative and proactive in responding to the fast-paced developments taking place in the environment.

Joy Gladys Jabile-Ejercito, a licensed interior designer and general contractor and the general manager and principal designer of JJE Design and Construct (JJEDC), is aware of emerging new reality.

She told the BusinessMirror in an e-mail interview that her company has been planning on the new direction of their design and construct services, the safety protocols and measures of the staff and workers at the office, site, and barracks, and the back-up plan in case some of the staff or workers get sick with novel coronavirus.

“Since more people are going digital and online now, we will increase our marketing to accept more interior design projects to survive and thrive during these uncertain times,” she said.

Jabile-Ejercito said Covid-19 will have huge impact on the future of interior design. Under the new normal, she believes the homes, commercial and public spaces will encompass the new awareness of the personal safety concerns of the people. For the online virtual communication, she said people will look for adequate lighting with good audio and virtual connection that will enhance personal bubble.

This setup will produce comfortable social barriers without being distracting, obvious or non-approachable and physical distancing.

Moreover, Jabile-Ejercito says comfort zones in social environments will begin to expand and will see a shift in the functions of interior design that will stress both mental and physical well-being.

As the economy acclimatizes, Jabile-Ejercito says work from home will not be an afterthought where employees can create beautiful and functional office in the comforts of their homes.

During this pandemic, JabileEjercito said people will prefer to stay in their homes and avoid areas where there is a large gathering of crowds.

“Though open spaces in homes, offices, public spaces will be at a decline. There will be a new definition

Work life balance

JABILE-EJERCITO

of spaces especially at home,” she explains.

Since the current crisis will limit the movements of the interior design and construction businesses, Jabile-Ejercito says design and construct companies will focus more on the online virtual meetings and make use of the electronic technology.

Despite the dire situation on the real-estate sector, Jabile-Ejercito is bullish on the prospects of interior design and construction. Moreover, the University of the Philippines scholar and interior design graduate says the almost three-month enhanced community quarantine has inspired people to nest and redecorate. “In the age of pandemic, the home has become our world.

Everyone wants to take care of the wellness and well-being at home to support the body, mind, and spirit throughout this difficult and challenging times,” she says.

To meet the challenges posed by the Covid-19 pandemic, Jabile-Ejercito points out that both local and foreign interior designers are now offering services using the online virtual platforms.

Furthermore, a lot of them conduct virtual meetings and consultations with clients, architects, and the

TO achieve a work life balance, Jabile-Ejercito competes in triathlon races since 2010. She started joining triathlon after giving birth to her youngest child.

“I wanted to get back in shape and to overcome my postpartum. It immensely helped with the surge of adrenaline I will get every time I would join a race,”JabileEjercito explains.

Being active in sports is important to Jabile-Ejercito to be physically and mentally strong. Being active in sports, she believes it is part of taking care of her wellness and well-being.

Eventually, she also pursued the marathon, competing in 2011 and 2012 organized by the Bull Runner.

Having a passion for continuous learning, Jabile-Ejercito also pursued her Master of Interior Design in UP Diliman. At the same time, she had to allot time for her marathon training. Nevertheless, she achieved both goals.

Later, she joined the Condura Run and the Chicago Marathon where clocked a time of 4:56. “I still want to do my fifth by the time I am 50 years old so that it will be five at 50,” she points out.

Jabile-Ejercito believes sports gives her the extra push in accomplishing her numerous tasks.

“This also gives me the energy to keep up with my load of work and the adrenaline rush keeps me going. I believe that being physically healthy will contribute to my achievement of my goals,” she explains.

B4

Show BusinessMirror

Wednesday, May 27, 2020

www.businessmirror.com.ph

Today’s Horoscope

By Eugenia Last

z

CELEBRITIES BORN ON THIS DAY: Chris Colfer, 30; Shanola Hampton, 43; Jack McBrayer, 47; Paul Bettany, 49.

IN this August 27, 2019, file photo, Lori Loughlin departs federal court with her husband, clothing designer Mossimo Giannulli (left), in Boston, after a hearing in a nationwide college admissions bribery scandal. AP

NO FREEBIES

IN these times when businesses are not exactly thriving, influencers and bloggers who only want freebies are a big problem. While many bloggers and influencers have been supporting small businesses by buying from them and promoting them on their social-media platforms, others aren’t very considerate. Some message the businesses to get free stuff and make veiled threats when they don’t get their way. It’s an open secret that when times were good, many bloggers and influencers received many freebies from businesses, but these times are different. Many businesses have been closed for months and those that are open only make enough to cover expenses. It is time to support local and buy from these local businesses if we can.

UNETHICAL

SO the solon is one of the prime movers behind a controversial initiative and very few have pointed out that his being in the picture is unethical. Why? Because he is the alleged boyfriend of one of the starlets who would benefit from the outcome of the bill. The married solon and the starlet have allegedly been together for a while, reportedly even before the starlet became famous online. This is all coming out now because the starlet is already famous but when she wasn’t yet, it was the solon who supported her and her family. She should actually be grateful to him because one of the reasons why she became famous was the public perception that her family was rich.

What made her appear rich was the material wealth showered on her by the solon. Now that she is famous and earning her own money, she wants him to help her again.

WISE WOMAN

THE starlet, like most of us, has fallen into hard times because of the pandemic and social distancing being practiced by everyone. She and her family have had financial difficulties since March when the ECQ was imposed on Metro Manila. The starlet thought of her ex, whose family is rich. Being the wise person that she is, the starlet sent a message to her ex’s dad, who has always had a soft spot for her. Unfortunately or fortunately for the starlet, depending on how you look at it, her ex’s mom got wind of her intentions.

The mom helped the starlet on the condition that she stay away from the male members of the family, her husband included.

NO TO BODY SHAMING

THE female host looks extra “lean” these days and she’s actually been shamed for her being very thin.

While it is true the host lost a lot of weight, it’s sad she is getting slammed about this because the public does not realize that she is troubled by many things right now. Just like it is for many people, the Covid-19 pandemic has resulted in a loss of income for her. This has been difficult because her dream house is under construction and it costs a lot of money, of course. Her job security is also uncertain. It’s normal for anyone to lose weight out of worry and stress in these times. The host has also been bashed for what people perceive to be her political leanings so it’s doubly difficult for her right now.

Lori Loughlin, husband plead in college scam, but fate is hazy

By Alanna Durkin Richer The Associated Press

F

ULL House star Lori Loughlin and her fashion designer husband, Mossimo Giannulli, pleaded guilty on Friday to paying half a million dollars to get their two daughters into the University of Southern California as part of a college admissions bribery scheme, but a judge has not decided whether he’ll accept the deals they made with prosecutors.

The famous couple appeared on separate screens during their video hearing, both sitting with a lawyer, showing no emotion as the prosecutor detailed their crimes and making no comments other than to answer questions from US District Judge Nathaniel Gorton. Under their proposed deals, Loughlin, 55, hopes to spend two months in prison and Giannulli, 56, is seeking to serve five months.

But the judge said he will decide whether to accept the deals after considering the presentencing report, a document that contains background on defendants and helps guide sentencing decisions.

Gorton did not say when he would decide but scheduled their sentencing hearings for August 21.

Loughlin and Giannulli were among dozens of wealthy parents, athletic coaches and others charged last year in the bribery scheme. The parents paid hefty bribes to get their kids into top universities with bogus test scores or fake athletic credentials, authorities said. Prosecutors announced on Friday that a 54th person has been charged and will plead guilty to paying $300,000 to bribe his son’s way into Georgetown University as a tennis recruit, though he did not play tennis.

Peter Dameris, 60, of Pacific Palisades, California, will plead guilty to fraud conspiracy, according to the US attorney’s office in Boston, which is leading the admissions case. A hearing has not been scheduled.

Dameris, a former executive at technology services company ASGN Inc., is the 25th parent to plead guilty.

His lawyer did not immediately return message seeking comment.

Loughlin and Giannulli had been scheduled to go to trial in October on charges that they got their two daughters into USC as crew recruits, even though neither girl was a rower. Prosecutors say they funneled money through a sham charity operated by college admissions consultant Rick Singer, who has pleaded guilty to orchestrating the scheme.

Prosecutors recorded phone calls and e-mails showing the couple worked with Singer to get their

daughters into USC with fake athletic profiles depicting them as star rowers. In one e-mail, Singer told Loughlin and Giannulli he needed a picture of their older daughter on a rowing machine in workout clothes “like a real athlete.”

Giannulli responded, according to the court filings: “Fantastic. Will get all” and sent Singer the photo.

Prosecutors also had a bogus resume presented to USC that falsely claimed their younger daughter, social-media star Olivia Jade, rowed in prestigious competitions like the Head of the Charles. Singer and the former coach he paid to create Jade’s fake athletic profile are cooperating with investigators and were expected to testify against the couple at trial.

Loughlin has also agreed to pay a $150,000 fine and perform 100 hours of community service.

Giannulli has agreed to pay a $250,000 fine and perform 250 hours of community service.

Loughlin pleaded guilty to conspiracy to commit wire and mail fraud. Giannulli pleaded guilty to conspiracy to commit wire and mail fraud and honest services wire and mail fraud.

Prosecutors agreed to dismiss charges of money laundering and federal programs bribery that were added after the case was filed.

Loughlin and Giannulli insisted for over a year that they were innocent and that they believed their payments were legitimate donations to the school or Singer’s charity. They accused prosecutors of withholding evidence that would exonerate them and claimed investigators had sought to trick parents into incriminating themselves. The judge this month rejected the defense’s bid to dismiss the case over allegations of misconduct by federal agents.

Legal analyst Peter Elikann called the deal on the table a low-risk proposition for Loughlin and Giannulli. “If the judge doesn’t want to do the sentence that they agreed upon with the prosecution, then they’re allowed to back out. So it’s what we call in the legal profession, a free bite at the apple,” said Elikann, a longtime criminal defense attorney who teaches criminal law at Bridgewater State University. “The judge either goes ahead and accepts what they do or what they want, or they can back out and they live to fight another day.”

An attorney for the couple declined to comment this week.

Others who have admitted to participating in the scheme include Desperate Housewives actress Felicity Huffman, who paid $15,000 to have someone rig her daughter’s entrance exam. Huffman was sentenced to two weeks in prison. n

Happy Birthday: Open up about the way you feel and what your intentions are. Explore the possibilities and different lifestyles that suit your personality as well as your dreams, hopes and wishes. Be honest with yourself about what’s doable. Don’t spread yourself too thin when you should be focusing on what’s most important to you. Your lucky numbers are 6, 14, 20, 27, 33, 39, 46.

a

ARIES (March 21-April 19): Use what you’ve learned to help you get through a challenge.

Draw on experience, knowledge and whatever resources you have to ensure that you make the best decision possible. It’s time to firm up on a commitment.

HH

b

TAURUS (April 20-May 20): Be prepared if you want a change you implement to work.

Iron out subtle but essential details before you leap forward. An opportunity is beneficial only if you are in a position to make it work for you. Uncertainty is a red flag. HHHH

c

GEMINI (May 21-June 20): Beware of false information or advice. Double-check facts and sources before you make decisions that can affect your position, reputation or well-being. Pour your heart into honing your skills and keeping up with technology. HHH

d

CANCER (June 21-July 22): An adjustment will determine how well a project turns out. Follow your instincts, and you will find a solution that allows you to bypass dealing with institutions or authority figures. HHH

e

LEO (July 23-Aug. 22): Before you make a move, discuss your intentions with someone aware of your circumstances and a reliable source for honest and helpful input. Don’t be tempted by a flashy offer when a minor adjustment is all that’s required. HHH

f

VIRGO (Aug. 23-Sept. 22): Take a back seat, and be an observer for the time being.

Someone will use persuasive tactics to try to push you in a direction that isn’t in your best interest.

Make a change if it benefits you. HHH

g

LIBRA (Sept. 23-Oct. 22): An open mind will take you on a journey that will lead to a brighter future. What you learn today will point you in a new direction. Online correspondence classes and finding information that will improve your health are favored. HHHH

h

SCORPIO (Oct. 23-Nov. 21): Listen to complaints, and rectify the problem promptly. Make an effort to enhance your living conditions, as well as your relationships with those close to you. HH

i

SAGITTARIUS (Nov. 22-Dec. 21): A calculated risk will pay off. Follow your intuition, not what someone tells you. A personal relationship should be reevaluated and your intentions revealed. Honesty and integrity matter, and judgments will be made. It’s time to commit or move on. HHHHH

j

CAPRICORN (Dec. 22-Jan. 19): Keep your thoughts to yourself and your eye on what’s happening around you. If you act in haste or jump to conclusions, you will send the wrong message.

Don’t make an emotional change; make a smart move in order to avoid trouble. HHH

k

AQUARIUS (Jan. 20-Feb. 18): Do your best to understand what others are trying to tell you. Speak from the heart and offer realistic suggestions, and you will turn a difficulty around. A positive attitude will lead to personal gain. HHH

l

PISCES (Feb. 19-March 20): Listen, watch and assess what’s happening around you.

Don’t make promises or get involved in something foreign to you. Believing someone without checking references or facts will end up being costly.

HHHHH Birthday Baby: You are adventuresome, imaginative and unpredictable.

You are playful and helpful.

‘two clever by half’ by dean weiman The Universal Crossword/Edited by David Steinberg

ACROSS 1 Olive stones 5 Canoe or kayak 9 Beyond bad 14 Spoken 15 Italian coins before euros 16 Dealership offer 17 Couple of store events?

19 Hit the thumbs-up button 20 Large bags 21 Dressed 23 Frontiersman Carson 24 Ref. with 20 volumes 25 Mall binge 28 Couple of mooring platforms?

34 Small pieces of criminal evidence 35 Improved in a barrel 36 Vodka order 37 Word after “loose” or “tight” 38 “...went to town/A-riding on ___” 39 Period of history 40 Adam’s apple location?

42 Fourth-down play, often 43 Very steep

5 Couple of brawls?

4 47 Spanish small plates 48 Carole King’s “It’s ___ Late” 49 Farm enclosure 50 Given the cold shoulder 54 Light beer 57 Setting the table, for one 58 Couple of thin coins?

61 Passport endorsements 62 ___ Man (red-and-gold Marvel hero) 63 Singer/activist Simone 64 Refine, as ore 65 Abe Lincoln’s coin 66 Sprout up DOWN 1 Soda, to some 2 SEP and SIMPLE plans 3 Reid of “Sharknado” 4 Lazy worker 5 Dynamite explosion 6 It’s crude at first 7 Word before “code” or “rug” 8 Obstacle for a new driver?

9 Fighting together

0 Oddballs 1 11 Counterfeit 12 Not new 13 Was first on a trail 18 They’re usually blue on a clear day 22 Sycophant 25 Woolly animals 26 Cuddly-looking Chinese beast 27 Contract add-on 28 ___ New Guinea 29 Ecstasy’s counterpart 30 Landlords’ fees 31 Hatchling’s call 32 South ___ (2018 Winter Olympics country) 33 Famous performers 38 Garment with strings 41 Makeup-free 43 Lieu 44 On a clothesline, say 46 Black-cake filling?

49 Seed, one day 50 Leveling wedge 51 Sit for a portrait

52 Large-scale film 53 “Double-dog” challenge 55 Middle Eastern ruler 56 Nevada casino city 57 Big pharmacy chain 59 Weasley in Harry Potter books 60 Observed

Solution to yesterday’s puzzle:

Image BusinessMirror

www.businessmirror.com.ph

Wednesday, May 27, 2020

B5

As reopening begins in uncertain coronavirus times, you need emotional protective equipment, too

By Claudia Finkelstein Michigan State University AS millions across the US prepare to return to work—and maybe, a level of normalcy—the phrase, “We’re all in this together,” heard constantly in the media, turns out to be both true and untrue. Yes, the pandemic is a global experience. But it’s also very much an individual enterprise.

Your race, age, socioeconomic status, where you live and whether or not children are in the house all have a dramatic impact on how you’re responding to the pandemic. For many, aside from the isolation, life has changed little. But others have lost family, friends, a paycheck or a business. For some of them, any sense of security has vanished.

Much has been written about the need for personal protective equipment, or PPE. But now, as we face reentry, it’s time to develop our EPE—emotional protective equipment. And there’s no better time than May—when the National Alliance on Mental Illness observes Mental Health Awareness Month—to begin the conversation.

As health and medical educators at Michigan State University, we research, counsel and teach about wellness, resiliency and support, particularly for vulnerable populations.

After a tragedy, whether natural or man-made, we know that an increase in stress, anxiety, depression, substance use or post-traumatic stress disorder often follows. But there are things individuals can do to help themselves, and things organizations can do to help others. Let’s look at a few of them.

We can practice skills rooted in stress management, mindfulness and self-compassion.

First, we must recognize the current circumstances are legitimately stressful. Exercising, eating right, regulating sleep and keeping a routine as best you can will strengthen your body and mind to manage these very real stressors.

Next, we must practice self-kindness. If you’re an adult, you’ve already dealt with uncertainty and survived. Perhaps you’ve even thrived. Thinking “I can’t cope” and “This is too much for me” not only makes you feel worse; the thoughts are usually incorrect. Instead, research suggests that talking to yourself—the way a friend would talk to you, with accurate and helpful phrases—reduces anxiety. Say to yourself: “I’ve been through scary and uncertain things in the past and made it through.” Or “These past few weeks and months have been filled with uncertainty, but I’m still surviving.”

Another strategy that works: Find distance between yourself and your thoughts, the essence of mindfulness. For example: When experiencing an anxious thought, notice it, name it, then release it.

You don’t need to “buy in” to the thought; instead, stay focused on the present moment.

Finally, be mindful of the quality and quantity of information you take in. In uncertain times, we try to calm our fears by gathering as much information as we can. But research has found the more media we consume, the higher the toll on our mental health.

Be aware of what’s going on, of course—but don’t let yourself lose hours every day to news or social media.

Meanwhile, organizations can use well-known principles to help employees and clients heal. First, they have to be physically safe. If you’re an employer, follow guidelines to protect them from Covid-19 as they return to work. And tell them what precautions you’re taking.

Make sure employees are psychologically safe.

Listen to the people who work for you. Don’t dismiss their thoughts, concerns, feelings or experiences; ask them what they need. You may not be able to do everything they ask, but do what you can. Be trustworthy, transparent and do what you say you’re going to do.

Foster collaboration, mutuality, empowerment, voice and choice. Some decisions, like following safety procedures, are not optional. But provide choices whenever possible and give a voice to everyone.

Recognize, particularly during reentry, that not everyone will be “back to normal” at the same time.

By sharing decision-making with your employees, an organization can empower its workforce and promote a safe and collaborative environment, even during a pandemic.

Finally, acknowledge cultural, historical and gender issues. Crises such as this are typically hardest on groups already marginalized. Real voice, influence, power and equity for minorities and women are especially critical right now.

Counterbalance: Part 2 O

N the flip side of Transactional Leadership, which we wrote about here last week, is Transformational Leadership. Of course, in between these two leadership styles are different variations depending on the need of an organization. Perhaps one should note that different situations call for different styles of leadership and understanding which style of leadership to adopt depends on which one will get the job done, the pervading culture, and the type of leadership needed in order to achieve the goals and objectives of the organization.

The term Transformational Leadership was first coined by James MacGregor Burns in 1978 and further expanded by Bernard M. Bass to explain the type of leadership which inspires and motivates its followers to be successful by virtue of how these leaders earn trust, exert influence, engender respect and evoke admiration. These are the kinds of leaders people follow because of the way they value their followers, not just simply as members of an organization, but as an integral part in the realization of the organization’s vision.

Transformational leaders look at the group and understand their collective needs and aspirations and from there develop a common vision. The reason why transformational leaders inspire and get buy in almost automatically from their group is because their vision for the organization is tied with each individual’s goals and objectives. People understand their role in fulfilling the vision of the team but at the same time, they also understand how it will benefit them personally and professionally. When people think of themselves as just doing the work because they need to without understanding why they have to, the organization stands to lose in terms of lost productivity. But when people are engaged because they have bought into the vision of the organization, people are more willing to exert additional discretionary effort because they understand what is in it for them. And transformational leaders understand the dynamics of aligning their organization’s visions with the employees’ goals and aspirations.

Part of the reason transformational leaders are so charismatic is because of their conviction to a set of values and principles which people are naturally drawn to. People with a defined set of values draw people because they know these leaders are consistent, and are natural beacons of where the organization is going. More so when you have a leader who has authentic empathy—one who listens with the sole intent of understanding what the other person is talking about and not one who listens for the sake of responding. These leaders are not afraid to talk to the frontliners and see for themselves if the organizational strategy is understood and integrated into their daily tasks.

Transformational leaders get buy in not only because they have listened to what the people want and have their own personal values and principles, but also because they exert effort in being present.

They take the time to go around and be with different groups in the organization to get a feel of people’s

Leadership is providing the counterbalance to whatever force which seeks to imbalance your team or your organization— be it a social conflict, natural disaster, political upheaval, or economic crisis. When leaders know their team and rally them to act on what needs to be done and how to get there, people are willing to spend more time and effort in realizing the leader’s vision because they know they are part of something bigger than themselves. sentiments and to be available when they are needed.

I have had several leaders who would manage by walking about—meaning, they would go around and just spend time with different groups so that they are attuned to the entire organization. This way, they do not have to wait for the next town hall to address concerns and issues do not escalate to problems.

In managing your own teams as a transformational leader, being present and taking the time to know your team individually is vital in understanding how their different predicaments and personalities can work for the whole team, and also in leveraging on individual strengths to benefit the group. And this can be done when you sit down with your team individually and get to know their personal motivations and professional career plans. This way, you can steer them in the direction they want to pursue without losing sight of how they can continue to become productive members of the team. It also allows you to see how you can motivate your team to become more productive and tap into their strengths to supplement whatever your team’s weaknesses.

This also allows you to involve your team in decisionmaking and providing alternative solutions to new problems. Transformational leaders understand that they do not have all the answers and they are willing to surround themselves with people smarter than themselves, or even invite people from other teams to provide a different perspective and way of working.

Transformational leaders understand that their role is to harness the synergistic effect of teams to do more than individual members. And when one member is not pulling their own weight, a transformational leader steps in to understand why and, if needed, equips the member to perform as needed.

The whole agenda of a transformational leader is to focus on individuals and how he can harness them to contribute to the whole team by understanding what motivates each member. Invaluable is the engagement with each member as a total person—not just what the member can give to the team but also how the organization contributes to the overall development of the individual.

But again, a leader has to balance organizational objectives with personal aspirations in order to create an environment where members understand their role in the organization and, at the same time, feel valued as an integral part of the whole. And in doing so, leaders might have to be transactional for a time and be transformative in others. But you can only know when to adopt which style of leadership if you understand your team and the organization. You can only do that by spending time with your team, having individual meetings with each of them, and letting them see you outside the work environment. Only then will they have an idea of the values you espouse and the principles you adhere to.

Leadership is providing the counterbalance to

whatever force which seeks to imbalance your team or your organization—be it a social conflict, natural disaster, political upheaval, or economic crisis. People will look up to you to know what needs to be done and how to get there. And if people are in disarray and there is confusion, it shows the kind of leader you are and your lack of vision for them. But when leaders know their team and rally them to act on what needs to be done and how to get there, people are willing to spend more time and effort in realizing the leader’s vision because they know they are part of something bigger than themselves. n

Mall opens with enhanced health and safety protocols

LEISURE destination Shangri-La Plaza opened its doors as the modified enhanced community quarantine commenced on May 16. Following the latest IATF guidelines for MECQ, the mall is operating within slightly reduced business hours, 11 am to 7 pm, daily.

Proper measures are currently in place to ensure the health and safety of both mall guests and employees with mandatory temperature checks at all entrances, automatic hand sanitizer dispensers available at the entrances, restrooms, and other key areas, and regular rigorous sanitation around the mall. All mall guests and employees are required to wear a face mask to enter and through out their stay.

Shangri-La Plaza has installed social distancing markers and reminders on floors, escalators (steps marked in blue dots to remind the required distance between users) and elevators (allowing only four people at a time, and with priority for PWDs).

Guideline reminders can also be seen in bathrooms, at parking areas, concierge, and the Food Forum; with sanitation and unavailable areas clearly marked to inform mall guests. A number of retail outlets, essential stores, restaurants,and services are open, and expected to increase as Metro Manila eases into the MECQ. The Shang encourages mall guests to follow and regularly check its social-media pages for updates, store hours, and other pertinent information.

Shangri-La Plaza (www.facebook.com/shangrilaplazaofficial) continues to work hard to address the needs of the market while safeguarding the community.

B6 Wednesday, May 27, 2020

Fundación MAPFRE donates P10.4M worth of medical equipment and supplies to PGH

Concepcion confirms additional 24,000 PCR testing capacity by end of June

Project ARK brings complete testing kits and consumables to Zamboanga, Cebu, Leyte and Iloilo, expanding PCR Swab test to complement rapid antibody test as we open up our economy.

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MAPFRE Insurance’s President and CEO, Mr. Tirso Abad and Vice President of Human Resources, Ms. Kimmy Alegarbes personally handed over the donated items at UP-PGH

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N the face of the emergency situation caused by the coronavirus, Fundación MAPFRE recently delivered PHP10.4M-worth of medical and health protection equipment to Philippine General Hospital (PGH) in order to better protect the population against the virus and help the most seriously ill.

Equipment which include a respirator, five infusion pumps, 24 cardiorespiratory monitors, 200 ventilation circuits, 300 silicone resuscitators, 150 disposable gowns, and 500 FFP2 masks were personally handed over by MAPFRE Insurance’s President and CEO, Mr. Tirso Abad and Vice President of Human Resources, Ms. Kimmy Alegarbes. The donation turnover ceremony was also joined by the Ambassador of Spain in the Philippines, Mr. Jorge Moragas, Economic

Counselor of the Commercial Office, Mr. Pedro Pascual, Director and President of the Spanish Official Chamber of Commerce, Industry and Navigation in the Philippines, Ms. Bárbara Apariz and Mr. Peter Hager, respectively.

The Philippine General Hospital, which is the beneficiary association of the donation drive, were represented by its Medical Director, Dr. Gerardo Legaspi, Vice Chancellor of UP-PGH, Dr. Michael Tee, Head of Donations Arm of the COVID-19 Bayanihan Na! Operations Center, Dr. Anthony Perez, along with several members and representatives of the COVID Crisis Committee -19 of the hospital.

“The fight against the coronavirus encompasses all sectors of society.

Institutions, such as Fundación MAPFRE, are called, more than ever, to take action

on this crisis with solutions that will create the most possible impact,” highlighted President and CEO of MAPFRE Insurance, Mr. Tirso Abad, who has shown himself proud of the company's social commitment and has expressed his wish that "more entities join this effort.”

The Philippine General Hospital, located in the city of Manila, is the largest public hospital in the country and has been officially chosen by the Government and the Department of Health as a strategic center to care for people infected

by COVID-19 in the capital. Part of the country's government strategy to fight the pandemic is to prepare institutions in the event of a massive outbreak and equip hospitals with as many ICU beds, respirators, and cardiorespiratory monitors as possible.

Food delivery service expands to Visayas and Mindanao

N a few days, we are expecting the country’s capital region to be placed under a less strict general community quarantine (GCQ), moving from modified enhanced community quarantine (MECQ). As the economy starts to reopen gradually, more businesses are expected to open and resume operation.

Movements, in general, are also expected to increase, most especially among those who will return to work.

Presidential Adviser for Entrepreneurship and Go Negosyo Founder Joey Concepcion announced that Go Negosyo’s Project ARKPCR Initiative and partner companies will increase the testing capacity of the country to an additional 24,000 swab tests per day by the end of June, complementing the government’s RT-PCR testing efforts.

“As we reopen the economy, we must remember to do it safely and cautiously. We must use all the tools available to us at the moment to protect the lives and livelihood of our people and to effectively fight COVID-19.

I believe that extensive testing is key to protecting public health and the means to help our economy bounce back successfully from this crisis,” Concepcion said.

Adequate swab testing centers will also be made more accessible, helping to confirm those who have been deemed suspect of coronavirus through the rapid antibody testing initiated

by Project ARK. This has paved the way for contact-tracing in areas where there has been silent transmissions.

“This would not have been possible without the tireless efforts of Joey Concepcion and his Go Negosyo team,” shared ARK-PCR Private Sector Chief Implementor and Iloilo Representative Jannette Garin. “We thank San Miguel Corporation and Ayala Foundation for their generous support for our project. Both

Arce Dairy now delivers to select areas of the Metro get that cool, creamy ice cream fix sent straight to your doorstep

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Hungry and craving? foodpanda riders will pick up and deliver fresh as quick as you can tap!

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FTER providing job to displaced tricycle drivers in Metro Manila, foodpanda, the biggest online food ordering and delivery service in the Philippines, has reached another milestone this month. The company added delivery services to key cities, beginning in Zamboanga in Mindanao and Palo City in the Visayas. Additionally, the wait will be over as the famous delivery service fleet of pink riders is also coming soon in Tarlac and Sta. Rosa Laguna in Luzon, Kabanklan in Visayas, and Tagum in Mindanao this month.

Stay safe at home while still enjoying all the food you love from the comfort of your couch. Check restaurants within your area, browse the menu, and track

your order as the foodpanda is everything you need to bring what you’re craving for from American, Japanese, Italian, to well-loved regional cuisines! Aside from the app being incredibly easy to use, it also provides access to a wide array of restaurants that don’t otherwise deliver.

For those who are looking to score a deal aside from fast delivery time, foodpanda offers major discounts up to 50 percent like no other. And the best part?

This is also the time to enjoy your favorite restaurants at home with free delivery.

“We are very excited to add more locations to our list of cities, especially because we want to play the part during this time by helping people get the food delivered directly to their doorstep. The

team believes that opening more cities to operate is an innovative response to COVID-19 as people are relying mostly on delivery service these days. To top it off, we’re seeing massive growth and a lot of interest from restaurants who are either experiencing it or through word of mouth, so our aim is to open more in select cities in the next months,” says Argie Muyco, Head of Expansion for foodpanda Philippines.

From milk tea, coffee, pizza, pasta, to steaks--foodpanda got your cravings covered! Order pretty much everything you want at the comfort of your couch as the foodpanda provides all the access to all the food that you need at a tap of your fingertips.

foundations, along with the Philippine Red Cross, have contributed a lot to our country’s COVID-19 Response. With the ongoing rate of COVID-19 transmission in the country, the need to work together is crucial. Both the government and the private sector must work hand-in-hand to save more Filipinos from contracting the virus.”

Go Negosyo, Ayala Foundation, and San Miguel Foundation, together with the House of Representatives, will be activating and automating more laboratories such as those in the Adella Serra Ty Memorial Medical Center, Bataan General Hospital and Medical Center, Bicol Regional Diagnostic and Reference Laboratory, Bohol Gallares Hospital, Butuan Medical Center, Cagayan De Oro Medical Center, Cotabato Regional Medical Center (CRMC), Dr. Jose Fabella Memorial Hospital, Dr. Jose N. Rodriguez (Tala) Memorial Hospital and Sanitarium, General Santos Medical Center, Ilocos Training Regional Medical Center, Isabela Doctors General Hospital, La Union Medical Center, National Center for Mental Health (NCMH), National Kidney and Transplant Institute (NKTI), Northern Mindanao Medical Center (NMMC), Ospital ng Palawan, Perpetual Hospital–Biñan, Quirino Memorial Medical Center, San Lazaro Hospital (SLH), UERM Memorial Medical Center, and West Visayas State University Medical Center.

As of writing, Go Negosyo Project ARK has generated a total of 1,209,521 rapid test kits. The initiative aims to close a total of 300 partner companies this week. Utilizing both rapid antibody testing and RT-PCR testing is a strategy that the group is invested in order to restart the economy. This while keeping people safe and guarding against the dreaded second wave.

F you are craving the cool and creamy goodness of Arce Dairy Ice Cream, there’s no need to leave your house to make a supermarket run. The iconic ice cream brand with their well-loved flavors such as Avocado, Atis, Durian, Chocolate, Mango, Ube, Sweet Corn and Tutti Fruitti along with the beloved Mantecado, Vanilla, and Caramel are now available through their phone-in delivery service within Muntinlupa, Las Pinas, Paranaque, Makati, Pasay, and Taguig!

“This expanded ice cream delivery is actually the second phase after our successful ice cream delivery service in Ayala Alabang since February. Expect that we will even reach other parts of the Metro very soon,” said Ariel Arce, VP Operations of Arce Foods Corporation Arce Dairy’s bestselling supreme variants which are made with pure, fresh Carabao’s Milk for that uniquely creamy texture are all available for delivery. Indulge in the all-time favorites with local flavors such as Atis Delight, Macapuno con Nanca, Durian, Cheese, and Ube Macapuno or go global with bestsellers like Cookies ‘N Cream, Dark Chocolate, Blueberry Cheesecake, Pistachio, Mint Choco Chip, Rocky Road, and Strawberry Banana.

Vegan choices also available with Arce

Dairy’s Sorbete de Caro which is made with fresh coconut milk in Avocado, Manga and Quezo Real.

The Less-Guilt, No-Sugar-Added variants come in Capuccino Lite, Cheese Lite, Macapuno Lite, Ube Lite, and Vanilla Lite, and for those who want to cool their palate with something really refreshing, Sherbet selections are available in Buko, Buko Lechias, and Calamansi Lemon. What’s more Drummies and Pinipig Crunch are also available for those who want to enjoy their ice cream with crisp, crunchy cones.

“We’re excited to partner with Intervolve Express, a trusted courier company. To make sure our ice cream are in good quality upon transport, it is safely packed in an insulated bag covered with dry ice. All riders have been trained on good hygiene and sanitation for delivery, safe package handling and safe customer contact,” added Ariel Arce.

The Arce Dairy delivery service is available through Cash On Delivery basis and GCASH payment. To place an order, send a message/ viber to 0966.6416663, all orders will be scheduled for delivery the very next day.

A delivery fee of P100 applies to areas of Muntinlupa, Las Pinas and Paranaque while Makati, Pasay, and Taguig is at P170.

BusinessMirror

Editor: Tet Andolong

Wednesday, May 27, 2020 B7

Pursuing innovation to remain a rational asset

Tagaytay Highlands Amenity Artist’s Perspective

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GARDEN Villas Artist’s Perspective

By Rizal Raoul S. Reyes @brownindio

T is a colossal challenge in these days of Covid-19 global pandemic to manage and protect one’s wealth as capital flows and business acquisitions are expected to remain volatile.

Although the current environment is in a crisis mode, property executives still believe that demand for a home has never been manifested than now.

Nevertheless, investing in real estate is still one of the wisest decisions that can be made these days. At this point when the global pandemic still has everyone in its grip, it is incredibly tough to manage an investment but real estate has proven that in can bounce back.

For the developers, they have to be proactive to remain a rational asset that an investor can have for keeps.

Tagaytay Highlands is one developer aware

of the current developments as it continues to enact measures to keep the community safe and healthy during these trying times— such as creating a Covid-19 task force, routine cleaning and disinfection, protection for club frontliners, regulated operation of facilities as per government-mandated guidelines, and ongoing cleanup efforts in the wake of the recent Taal calamity.

According to research on trends and insights citing the pandemic’s impact on global real estate, the property industry offers good risk-adjusted returns compared to other asset classes even despite various downturns.

“Potential investors are seeing this in Tagaytay Highlands, a premier leisure development that continues to build themed residential communities,” the company said in a press statement.

On its 25th year, Tagaytay Highlands has proven to be a worthy investment for property seekers with its new projects, improvements in facilities and amenities, and the expansion of its existing portfolio.

By acquiring a leisure home in Tagaytay Highlands, a buyer can have access to its prime location and contemporary facilities.

With approximately 1,200 hectares of land area, Tagaytay Highlands has a unique location as the only mountain resort of its kind and scale, covering the provinces of Cavite, Laguna and Batangas. At 2,000 feet above sea level, the complex offers panoramic views of Taal Lake, Mount Makiling, Canlubang Valley and Laguna de Bay. The gated and themed residential enclaves of Tagaytay Highlands are designed to achieve a balance between the majestic

The Grove at Plantation Hills East Pond Artist’s Perspective natural environment and man-made conveniences. “These communities are primed for expansion, making them foremost choices for investment,” the company said.

Horizon Terraces recently launched Westchase, its latest expansion. A project that features modern Asian-themed garden suites, Westchase comes with shared access to Horizon Terraces’ amenities—a lush Central Garden, swimming pools, a playground, therapeutic walkways, private nooks and terraced gardens.

In the pipeline is the completion of Horizon Terraces’ Garden Villas, a three-level townhouse development in the Midlands enclave. Moreover, its first cluster continues to undergo fast-track architectural and structural works.

For people who yearn for a laid-back lifestyle, The Grove at Plantation Hills shines as a leisure, residential and eco-farming conceptin-one. It offers orchard and garden lots ideal for growing fruit trees, herbs, and vegetables in the comforts of one’s own backyard.

Situation not normal at Seda hotels but guests remain positive

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USINESS has been anything but usual for Seda hotels. Nevertheless, the homegrown hospitality brand has kept 10 of its properties throughout the country open to service the needs of long-term stay guests mostly connected with business processoutsourcing firms.

Seda hotels—restaurants, bar, pool, gym, function rooms—have been closed to ensure public safety for the duration of the nationwide enhanced community quarantine. Upon entry to the hotel, guests are required to wear masks, show their IDs for verification purposes and are prohibited from bringing friends with them. Their luggage and vehicles parked in the hotel are sanitized. They can ride the elevator to their assigned floor only two at a time and are limited to consuming pre-packed meals in their rooms even during breakfast.

All these limitations notwithstanding, guest reviews on TripAdvisor have been excellent. Last April, a guest from Telus International Philippines gave Seda BGC a “10-star” rating or over and beyond the usual five. “I travel a lot and recommend Seda BGC as a perfect safe haven,” he added. Another commended the staff for being accommodating and attentive. “I definitely understand that due to the current situation, they are restrict-

ing access to amenities to ensure guest safety.”

Andrea Mastellone, senior group general manager, explained that owing to the very limited hotel options of guests at this time, Seda decided to keep operating its properties—except for that in Cagayan de Oro and its resort hotel in El Nido, Palawan. “We’ve had good relationships with these long-term repeat guests and decided to reciprocate their loyalty for as long as we viably can.”

Inevitably, hotel occupancy during the lockdown period and consequently revenues have dwindled to a fraction of pre-Covid levels when Seda hotels and outlets throughout major Philippine cities enjoyed high patronage levels. Moreover, government directives prohibit Seda from accepting new bookings during the ECQ. But overhead expenses like maintaining the front desk, housekeeping and other operating units continue.

Seda’s bottom line has further been impacted by its commitment to keep safe its employees in operations and spare them from the risks of commuting to and from their respective hotels, explained Mastellone.

Way beyond the standard measures of issuing them safety masks and protective gear, the latter have been housed at each of their respective hotels since lockdowns were insti-

tuted throughout the country—while practicing social distancing. Other Seda personnel have been working from home.

“Unlike other establishments, we are a homegrown brand with a long-term view.

We have the flexibility to reset profit targets over certain periods for long-term gains like cementing our relationship with our most valued clients and supporting the Philippine economy in our own way,” disclosed Mastellone. “Happily, our operations employees, who have not been with their families since

lockdown, also share this view in the spirit of bayanihan and malasakit, which are part of our brand values.”

Seda employees—both those who opted to lockdown at the hotel and those on WFH arrangements—have also reached out to their respective communities through individual donations. Employees from Seda BGC, Seda Residences Makati and Seda Vertis North pooled together donations to support various Metro Manila hospitals and families affected by the lockdown. Seda Atria in Iloilo City reached out to civic groups while Seda Central Bloc in Bacolod donated to community hospitals.

Even Seda guests who are part of the brand’s loyalty program called Edge, have donated their rewards points and opted to convert them to cash earmarked for Caritas Manila’s Damayan project which provides food certificates for millions of Metro Manila families. Seda has also extended deadlines for redeeming e-vouchers and maintaining membership levels to Edge members.

Unusual times have indeed given rise to unusual actions. “We are happy that the bayanihan spirit we now see all around us has caught on far more than Covid-19,” said Mastellone.

Century Properties takes part in the conversion of Philippine Arena as Covid-19 mega testing facility

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ENTURY Properties Group (CPG) is taking part in the conversion of the Philippine Sports Stadium to a Covid-19 mega testing facility at the Philippine Arena in Bocaue, Bulacan.

The said facility is the designated northern sector swabbing center of the government’s “Test, Trace, and Treat” strategy that is being spearheaded by the National Action Plan Against Covid-19 Deputy Chief Implementer and Bases Conversion and Development Authority (BCDA) President and CEO Vivencio Dizon, together with the Department of Health.

It will have six health-care station tents with 96 test booths, and a minimum testing capacity of 1,500 per day.

CPG is contributing a significant portion for the said facility’s construction and operations, and is looking at ways it can further assist government efforts to curb the coronavirus pandemic.

“In addressing a health crisis, it is very important to act swiftly and decisively, that’s why we immediately heeded this call to get the much-needed resources in place,” said CPG Executive Chairman Jose E.B. Antonio.

“We recognize BCDA for its valuable ef-

forts and quick action in rolling out these four mega testing facilities and executing this immense task for the Filipino people. It is in the same spirit of bayanihan that we commit our full support to this cause. We believe that by joining forces with government and other organizations in this fight against Covid-19, we can emerge from this public health crisis as a stronger, united and a better nation,” Antonio said.

The Philippine Arena is the fourth mega swabbing center converted to ramp up implementation of massive testing in the country.

“We, in government, are grateful for the huge support and active participation of our private partners in responding to the Covid-19 crisis. The Century Properties Group has largely contributed in building up the country’s testing capacity by providing health-care stations and testing booths inside the Phil-

ippine Arena mega swabbing center,” Dizon underscored.

“This pandemic has brought us great uncertainty but our sustained and collective efforts will go a long way in saving more lives and successfully overcoming this crisis,” he added.

The other mega swabbing centers are the Palacio de Maynila along Roxas Boulevard, the Enderun Tent in Taguig City, and the Mall of Asia arena in Pasay City.

To make it interesting to prospective investors, Tagaytay Highlands is on an intensive drive to innovate for its customers.

It recently reconditioned its Swiss-engineered cable cars and funicular train transport system, which remain unique to the complex to this day.

Recreational facilities and beverage outlets such as Peak Bar, Tagaytay Highlands Gold Club, The Country Club, and The Sports Center have also undergone renovation to improve its services to its residents, members, and guests.

To give owners and guests as well wonderful memories, Tagaytay Highlands has likewise expanded its dining options. Its well-loved restaurants now include Concha’s Garden Café, Amare La Cucina, Lime and Basil, Gourmet Farms, Kaya Korean Restaurant, Brera Delicatessen, and Aozora Japanese Café + Bistro, while Highlander Steakhouse, Highlands China Palace, and The Great Room of The Spa and Lodge remain to be culinary hot spots.

Rental moratorium for Valenzuela housing projects extended anew

By Roderick L. Abad

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NFORMAL settler families (ISFs) of Disiplina Villages in Bignay and Ugong in Valenzuela City are given enough time anew to settle their lease dues since the entire National Capital Region has been placed under modified enhanced community quarantine (MECQ) until end of this month.

Through Ordinance 694, Series of 2020, the city government has green lighted the additional 30-day extension period for the payment of rent to help ease the burden of residents, especially those affected by unemployment and loss of economic sources as a result of the prolonged Luzonwide lockdown.

This directive, titled “Extended Rental Payment Moratorium Ordinance for Disiplina Village Residents,” gives the tenants of both housing projects a total of 150-day respite from paying their lease from March 17 until August 14 of this year.

Last April 13, the City Council passed Ordinance 691, Series 2020, which initially provided a 120day grace period (from March 17 to July 15) for the payment of rental obligations of the two in-city resettlement sites.

As prescribed before, the total rental fee accrued during the 150-day rent suspension period will be equally divided into and paid in the next four months following the end of the moratorium season. The amortized amount will be added to the rental fee due in the subsequent months without interest, penalties, fees and other charges.

Because the rent freeze does not cover the utility bills, residents will still have to settle their water, electricity, Internet, and other bills during this time of crisis.

Had the national government further extend the state of public health emergency, Mayor Rexlon Gatchalian is also authorized to extend the lease moratorium.

Penned by Councilor Rovin Andrew M. Feliciano, Ordinance 694, Series of 2020 was enacted by the 8th City Council of Valenzuela during their 37th Regular Session last May 11.

Disiplina Village is the leading in-city resettlement site and public rental housing project for the ISFs of Valenzuela City.

The two communities currently house 4,594 ISFs in 143 buildings. Akin to mini cities, they have city hall annexes or Sentro ng Sama-Samang Serbisyo (3S Centers), day-care centers and schools, health stations and activity centers.

Sports BusinessMirror

B8 Wednesday, May 27, 2020

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

MARCIAL MISGUIDED? EUMIR FELIX MARCIAL mends his ways with boxing officials.

PhilSports oval ready for Tokyo Games qualifier

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FFICIALS of the Philippine Athletics Track and Field Association (Patafa) confirmed on Tuesday that adjustments were made on the PhilSports oval to conform with World Athletics standards that would make the facility an eligible venue for one of several Tokyo Olympics qualifiers.

Jeanette Obiena, a member of the Patafa board and technical support group, told the BusinessMirror that discrepancies at the start line of the 110-meter hurdles has been corrected.

The PhilSports oval was built 35 years ago but some of its facilities did not conform with international federation configurations.

“The track was a bit tight before, especially at the starting blocks of the 110-meter hurdles,” Obiena, mother of Tokyo Olympics-bound pole vaulter EJ Obiena, said.

The PhilSports traditionally hosted local competitions including the University Athletic Association of the Philippines, National Collegiate Athletic Association, and the Patafa National Open in 2016. It was renovated last year by the Philippine Sports Commission for the 30th Southeast Asian Games.

The track and field competitions, however, were staged at the new Athletics Stadium at the New Clark City in Capas, Tarlac.

Obiena added the track’s tartan surface is certified by the World Athletics, formerly the International Association of Athletics Federations.

The Patafa, however, still needs to have the facility homologated by the World Athletics if it intends to include the 2020 National Open, which was postponed for December, as a Tokyo Olympics qualifier.

Ramon Rafael Bonilla

By Ramon Rafael Bonilla

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UMIR FELIX MARCIAL mended his ways with top boxing officials on Tuesday, only days after it was announced that he was seeking outside help in his bid to turn pro ahead of his campaign in the Tokyo Olympics in 2021.

“I texted Mr. [Ricky] Vargas to say sorry. I just couldn’t hurt the feelings of my association’s officials and those of my teammates and coaches,” Marcial said in a statement.

Vargas is the president of the Association of Boxing Alliances in the Philippines (Abap).

Marcial, a middleweight who earned his ticket to the Tokyo Games along with women’s flyweight Irish Magno from last March’s Olympic qualifier in Amman, Jordan, was pictured to have created a wedge with the Abap leadership when he personally talked with lawyers outside of the Abap circle about his impending pro career.

The BusinessMirror received emailed quotes from Marcial as well as a photograph that showed him meeting with lawyer Clint Aranas. The boxer from Zamboanga was quoted as seeking professional legal advice for his protection when he finally signs a contract as a pro boxer.

Aranas, interestingly, was one of Vargas’s most vocal adversaries when he was president of the Philippine Olympic Committee. Besides heading the national association for archery, Aranas was also the former head of the Government Service Insurance System and a deputy commissioner at the Bureau of Internal Revenue.

Marcial said in Tuesday’s statement that he has the highest regard for the boxing association’s officials and “would never do anything to jeopardize his relationship with Abap.”

The 25-year-old boxer said Vargas and Abap Secretary-General Ed Picson are helping him negotiate with professional boxing managers to ensure that he won’t be distracted in his Tokyo Olympics campaign.

“I’m aware of Mr. Vargas and Sir Ed’s concerns—that they are for my own good,” Marcial said. “They have been scrutinizing the pro offers and they would present the best option when I finally decide to turn pro.”

Pros are already eligible to compete in the Olympics and other regional games.

Charly Suarez already turned pro but still fought and won a men’s lightweight gold medal for the Philippines in the 30th Southeast Asian Games last December.

Picson assured that they will not stand in the way of Marcial, who emphasized that making the Olympics was his, and his father Eulalio’s, lifelong dream.

“Mr. Vargas and I spoke with renowned professional boxing manager Shelly Finkel and our conversation was frank, cordial and enlightening,” said Picson, adding that even if Marcial signs a contract today, Finkel assured the Filipino’s first professional fight would take place after the Tokyo Olympics.

“We just want to ensure that Eumir gets the best deal possible and that it will not run conflict with the Olympic goal” Picson added.

SUZARA: PANDEMIC A ‘GAME-CHANGER’

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HE Covid-19 pandemic’s negative effects should be approached as a glass that’s half full with water—and not half empty—as windows of opportunities emerged for the positive transformation of both domestic and global sports.

This was the view aired by Ramon “Tats” Suzara, one of the major personalities in the country’s hosting of the 30th Southeast Asian Games, who stressed that “no one is invincible against Covid-19—not even athletes who are physically fit and definitely not even sports.”

“In the near future, as we slowly restart everything, one possibility is for sports to review the possibility of holding competition behind closed doors,” Suzara said. “For sure, we lose revenues from in-venue spectators, but it could present us with more opportunities for broadcast,

sport presentation, fan engagement through social-media platforms, etc.”

Suzara said that continental and international federations would always look after the health and well-being of all stakeholders—especially athletes and spectators—besides them “having to strictly follow state or government orders related to ceasing all public gatherings and simple stayat-home protocols.”

“Admittedly, and just like all other sectors or industries, sports is suffering from huge revenue losses,” he said. “The sports calendars for 2020 has been subject to a lot of postponements and cancellations. Therefore, we have to look into reprogramming the scheduled events.”

Suzara, noting the postponement of the Tokyo Olympics to next year, said: “Federations usually base their calendar

[with] several factors: national team season, club or professional league season, and the Olympic Cycle.

“Adjustments will greatly help all sports stakeholders to reformulate their calendars,” he stressed.

Suzara said it would also be helpful to boost initiatives for eSports and to hold events with remote competitors while ensuring the integrity of the games against issues such as hacking, data privacy and other forms of cyber risks.

RAMON “TATS” SUZARA sees windows of opportunities despite the pandemic.

Journalists slam Tokyo organizers over coronavirus parody emblem

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Journalists say the parody emblem issue undermines free expression in Japan and emboldens the enemies of democratic debate.

Ewing out of hospital after being treated for Covid-19 virus

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eorgetown basketball coach and former National Basketball Association (NBA) great Patrick Ewing has been released from the hospital and is recovering from Covid-19 at home, his son said Monday.

The 57-year-old Hall of Famer, who played for the Hoyas in college and the New York Knicks in the NBA, announced Friday that he had tested positive for the coronavirus and was being treated at a hospital.

Patrick Ewing Jr. said three days later on Twitter that his father was getting better after receiving treatment and thanked the doctors and nurses who looked after him during his hospital stay. He also thanked fans for their thoughts and prayers after his father’s announcement.

“My father is now home and getting better,” Ewing Jr. wrote. “We’ll continue to watch his symptoms

and follow the CDC guidelines. I hope everyone continues to stay safe and protect yourselves and your loved ones.”

As a player, the 7-foot Patrick Ewing helped Georgetown win the 1984 NCAA men’s basketball championship and reach two other title games.

During his four years playing, Georgetown went 121-23, a winning percentage of .840.

He was taken with the No. 1 overall pick in the 1985 draft after the Knicks won the NBA’s first lottery. Ewing wound up leading New York to the 1994 NBA Finals, where they lost to Hakeem Olajuwon and the Houston Rockets.

Ewing played 17 seasons in the NBA, 15 with the Knicks.

After retiring as a player, he spent 15 years as an assistant or associate coach with four teams in the pros. In April 2017, he returned to Georgetown for his first job as a head coach at any level.

In his first three seasons at his alma mater, Ewing’s teams went a combined 49-46, with zero trips to the NCAA Tournament.

In 2019-20, Georgetown finished the season with seven consecutive losses and a 15-17 record. AP

PATRICK EWING is getting better each day. AP

GROUP of journalists slammed both the Tokyo 2020 Organizing Committee and the Foreign Correspondents’ Club of Japan (FCCJ) over the removal of a parody emblem that depicted the Olympic logo as the coronavirus.

The FCCJ published the image on the front cover of the April edition of its monthly publication for members, Number 1 Shimbun, but removed it after Tokyo organizers were irked and called the emblem “insensitive” and said it breached copyright laws.

Eleven journalists released a statement that criticized how the matter was handled.

“The Tokyo Olympic Organizing Committee has asked the FCCJ to delete its parody of the logo, and reportedly threatened to sue for copyright infringement if their demands were not met,” the statement read. “The front cover served as a commentary on the deep relations between the spread of the coronavirus and the Tokyo 2020 Olympics. Parody is one valid way of speaking truth to power.

“Since 1945 the Foreign Correspondents’ Club of Japan has been organized on the principles of freedom of the press,”

the statement added. “As our articles of association put it ‘the objectives of this Association shall be...to defend the freedom of the press and the free exchange of information.

“The demand of the Tokyo Olympic Organizing Committee to delete its parody of the 2020 Olympic logo from the internal club magazine was, therefore, entirely unacceptable from the outset,” it said. “The undersigned journalists are appalled by the fact that the club authorities did not meet their responsibility to defend freedom of the press, which was their most sacred duty. By their words and actions, they have undermined free expression in Japan and emboldened the enemies of democratic debate.”

Michael Penn of the Shingetsu News Agency, where the letter was published, also signed the document.

Jake Adelstein of The Daily Beast and former managing director of Number 1 Shimbun Steve McClure were also among the 11 signatories, as well as former FCCJ President Steven Herman. Insidethegames

Al Mendoza | alsol47@yahoo.com

THAT’S ALL

The Partnership I SAID a little prayer for Danny Floro on May 16, the day he was born 96 years ago. Some three months earlier, on February 24, his 25th year death anniversary was quietly observed by his family and close friends at his Manila Memorial Park tomb in Dasmariñas, Cavite.

While he was a tough act to follow—jolly, selfless and oozing with life—Floro also seemed indestructible as he was almost bull-strong, dripping with zest and energy every single day.

He succumbed to stomach cancer only three months after the disease struck.

He remains sorely missed.

“He lit up a room each time he arrived,” said the late, lamented Taby “Insan” Tabaniag of Floro.

Floro and Baby Dalupan composed the famed “The Partnership” in the Philippine Basketball Association (PBA).

As manager of the Crispa Redmanizers, Floro spoiled the players. As Crispa coach, Dalupan disciplined the Redmanizers.

Together, they made Crispa the first PBA dynasty, launching it with Crispa winning the first PBA Grand Slam in 1976.

Floro was a legend in pampering his players.

On the eve of a PBA championship, a Redmanizer suddenly materialized at Floro’s office cum living room at the Crispa compoundplant in Caniogan, Pasig.

“Boss, my aircon unit is down,” said the player to Floro. “My wife couldn’t sleep a wink.”

Right there and there, Floro had one aircon delivered to the player’s house.

In the championship match the next day, the player was the game’s top scorer as Crispa defeated Toyota for the crown.

While Dalupan was called the “Maestro” whom Tim Cone idolizes unabashedly till now, Floro was the “Manager” without compare.

So wonder no more why Crispa had winning streaks in bunches.

The most memorable one came in the 1980 All-Filipino, when Crispa assembled a 19-game winning skein. Had Crispa won the 20th encounter, it would have been the only sweep of a single conference in PBA history.

Crispa started that record run with a 9-0 romp of the eliminations. Then Crispa defeated Toyota, U-Tex, Gilbey’s Gin, Tanduay and Great Taste in the quarterfinals. After next brushing off Toyota, Tanduay and Gilbey’s Gin in the semis for a 17-game winning streak, Crispa faced Toyota in the best-of-five title playoffs.

Starring Philip Cezar (the eventual series MVP), Freddie Hubalde, Atoy Co, Bernie Fabiosa, Abet Guidaben, Joy Dionisio, Bong dela Cruz, Rey Pages, Tito Varela and rookie Joy Carpio, Crispa outgunned Toyota in Game One, 108-101, before scoring a 122-102 rout of the Tamaraws in Game Two. The stage was set for a historic 20-game sweep of the All-Filipino for Crispa. But as fate would have it, Toyota snatched a 97-94 win in Game Three.

Crispa’s 97-94 victory over Toyota in Game Four sealed the title win and a 19-1 Conference record still unmatched up to now.

“The boys were pressured by the thought of a Conference sweep,” said Floro then. “But what mattered in the end was the Championship trophy.”

In 10 PBA seasons, “The Partnership” largely produced for Crispa 13 titles and two Grand Slams. Hard to surpass, let alone equal.

THAT’S IT With the virus vaccine still not within sight, will our sports calendar end up zero in competitions this year? Que sera sera, whatever will be, will be. Happy May 26 birthday, Bones Floro (Danny Floro’s grandson)!

6M fans watch PGA, NFL stars play golf on TV

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TLANTA—Two of the biggest names from the Professional Golfers’ Association (PGA) Tour and the National Football League (NFL) proved to be must-see TV. Turner Sports said the Sunday telecast of The Match: Champions for Charity attracted an average of 5.8 million viewers across four of its networks. Turner says it was the most-watched golf telecast in cable TV history.

It said the previous record was 4.9 million viewers on ESPN at the 2010 Masters, the year Tiger Woods returned to golf for the first time

since the scandal in his personal life.

Woods and Peyton Manning scored a 1-up victory over Phil Mickelson and Tom Brady at Medalist Golf Club, a match that featured high entertainment with shots and with words, along with raising $20 million for Covid-19 relief funds.

The peak was 6.3 million average viewers from 5:45 to 6 p.m. EDT. That was about the time Brady, who had been lampooned on social media for his golf skills, silenced analyst Charles Barkley by holing out from the fairway for birdie.

It was the second straight Sunday of live golf on television after the pandemic shut down the sport on March 13. The previous week, Rory McIlroy and Dustin Johnson defeated Rickie Fowler and Matthew Wolff at Seminole in an exhibition that NBC Sports said attracted 2.35 million viewers across all formats.

The Champions for Charity match was shown on TNT, TBS, truTV and HLN. The PGA Tour is set to return in two weeks at Colonial in Fort Worth, Texas, for the Charles Schwab Challenge.