BusinessMirror November 24, 2020 by BusinessMirror

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Tuesday, November 24, 2020 Vol. 16 No. 47

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Mega Global Corporation is looking to expand, spurring hopes of recovery from the recession. On Monday, it broke ground for a Mega Manufacturing Center in Sto. Tomas, Batangas that is seen to increase production from 30 percent to 50 percent when completed in 2022. Front row, from left: Trade Secretary Ramon Lopez, Mega Global President and CEO William Tiu Lim; Mega Global VP For Finance Marylou Tiu Lim, and Batangas Vice Governor Mark Leviste lead the capsule laying. They are joined by Mega Global Corporation executives. Story in Companies, page B1. NONIE REYES

By Bianca Cuaresma

@BcuaresmaBM

ORMER Bangko Sentral ng Pilipinas (BSP) Deputy Governor Diwa Guinigundo warned economic managers of sweeping statements like “the worst is over” for the Philippine economy, saying misplaced confidence puts the government at risk of being blindsided by asset price inflation, reluctance of banks to lend and a deeper fourth quarter recession.

Guinigundo, a career central banker before recently retiring, particularly flagged BSP Governor Benjamin Diokno’s statement on Friday, saying the Philippines’s external accounts from July to September suggest that “the worst” is over for the economy. Speaking at the Stratbase Pilipinas Conference 2020: “Rebooting the Economy Post-Pandemic: Cushioning the Long Emergency,” Diokno said: “As we monitor the impact of the pandemic on the external accounts, it can be observed that the effects were mostly felt during the second quarter of 2020, particularly

during the months of April and May, as stricter lockdown measures were imposed by the government as part of its efforts to fight the spread of the virus. As we entered into the third quarter of the year, preliminary data from July to September suggest that the worst is over.’’ Guinigundo, however, said this should not be the basis of this statement, as these data were already captured in the dismal third quarter gross domestic product (GDP) of the economy and that the fourth quarter numbers are still unknown. See “Experts,” A2

DOF-Neda nix Megawide airport proposal, but firm says it met financing norms

MEMBER of the House Committee on Economic Affairs on Monday said the Department of Finance (DOF) and the National Economic and Development Authority (Neda) have formally rejected the unsolicited proposal of Megawide Construction Corporation (MCC) to expand and operate the Ninoy Aquino International Airport (Naia), but the noted builder said it has complied with the equity requirement that the two agencies had used as basis for rejection. Puwersa ng Baya ning At le ta (PBA) Party-list Rep. Jericho Nograles said the DOF-Neda decision affirms the position of law-

PESO exchange rates n US 48.2500

makers that the Department of Transportation (DoTr) erred in endorsing Megaw ide’s unsolicited proposal to expand Naia in exchange for a 25-year contract to manage and operate the country’s biggest and busiest airport. “The DoTr has no other recourse but to finally listen to the Neda and DOF as project evaluators. DoTr must reject the unsolicited proposal. Should the DoTr continue to entertain this unsolicited proposal, then it is clear that the agency is favoring a private contractor for a contract that may be disadvantageous to government.

SENATORS RAISE ALARM OVER P33.4-B PUBLIC FUNDS ‘PARKED’ AT PITC By Butch Fernandez

@butchfBM

ENATORS are strongly urging the Executive to reconsider plans to tap a state-run trading firm to buy Covid-19 vaccines after Senate Minority Leader Franklin Drilon reported Monday that the public funds parked with the Philippine International Trading Corp. (PITC) had reached P33.4 billion, indicating an apparent poor record in returning money to government agencies despite shortfalls in deliveries. The PITC, an attached agency of the Department of Trade and Industry (DTI), is being eyed to handle purchases of Covid-19 vaccines for the Duterte administration, but senators are aghast at Drilon’s revelation that not only was it earning billions in commissions from the government agencies, it had also failed to return monies to them when there are shortfalls in deliveries. Of the P33.4 billion that Drilon said is “parked” with PITC, while the government has been scrounging for money in the pandemic, at least P9 billion was earlier cited as owed to the Armed Forces of the Philippines. In a televised interview on Monday, Drilon said certain questions arise as the amounts deposited already runs to P33.4 billion

back in 2019, noting, for instance, that “yearly this has grown, these parked funds earned interests. Is it remitted back to the government?” After reviewing its audited financial statement, Drilon said, “I will repeat that, the latest audited financial statement indicates that customer deposits in PITC is P33.4 billion. Assuming that there are also some private fund deposits, which is not that much, we are talking about funds to the tune of P33 billion in government funds deposited in a small trading firm called PITC,” the senator said. The chairman of the PITC, Trade Secretary Ramon Lopez had been reported as receptive to an inquiry by lawmakers, and is himself seeking an explanation from the DTI sub-agency’s officials. In a CNN Philippines interview, however, Lopez assured the public there are no funds that are “parked” or“missing”at PITC and that unused monies revert to the Treasury.

Lacson’s warning

Sen. Panfilo Lacson likewise cautioned authorities against rushing the move to tap the PITC for the multibillion-peso purchase of Covid vaccines “given its poor track record.” See “Public funds,” A2

See “DOF-Neda,” A2

n japan 0.4650 n UK 64.1580 n HK 6.2243 n CHINA 7.3527 n singapore 35.9163 n australia 35.2273 n EU 57.2100 n SAUDI arabia 12.8667

Source: BSP (November 23, 2020)

News

BusinessMirror

A2 Tuesday, November 24, 2020

Bayanihan 3... Continued from A12

If there is only so much in Bayanihan III that the government can afford, we will cooperate. But it cannot be zero. If there are tax reforms that need to be enacted so that the medium-term fiscal overhang does not gape too much, I will do it in the committee on Ways and Means.” Under the bill, subsidy and stimulus measures shall be funded from 2020 General Appropriations Act (GAA), savings pooled pursuant to Republic Act 11469 or the Bayanihan To Heal as One Act, excess revenue collections in any one of the identified tax or non-tax revenue sources from its corresponding revenue collection target, as provided in the FY 2020 Budget of Expenditures and Sources of Financing (BESF), new revenue collections or those arising from new tax or non-tax sources which are not part of nor included in the original sources included in the FY 2020 BESF; and all amounts derived from the cash, funds, and investments held by any GOCC or any national government agency.

DOF-Neda... Continued from A1

This is a crime under section 3 of Republic Act 3019 or the Anti-Graft and Corrupt Practices Act,” Nograles said in a statement. In a three-page memorandum dated November 19 to Transportation Secretary Arthur Tugade that was copy-furnished to Nograles’s office, the DOF and Neda declared that MCC’s equity position is insufficient to finance the equity requirement for the proposed expansion project. The memo was signed by Finance Secretary Carlos Dominguez and Neda Acting Secretary Karl Kendrick Chua. The DOF and the Neda are the main regulators that check and approve all PublicPrivate Partnership (PPP) and Build-OperateTransfer (BOT) projects. “We are returning the submitted unsolicited proposals and project documents in view of the findings of the ICC [Investment Coordination Committee] Secretariat’s evaluation that MCC’s equity position is insufficient to finance the equity requirement for the proposed project,” said the memo.

Megawide claims it complied

Megawide, however, said on Monday it has complied with the additional financial requirements for its unsolicited proposal on Naia. Louie B. Ferrer, the company’s managing director for transport, said the documents were forwarded to the Manila International Airport Authority (Miaa). They include the joint solidary liability, which the Neda requires. “The financial documents we submitted are sufficient to exclusively support the requirements of the Naia project. With this, we are hopeful our proposal to rehabilitate and transform Naia into a first-world airport complex can now be elevated to the Cabinet committee for approval and proceed to Swiss challenge,” Ferrer said. The Neda Investment Coordination Committee had sought to clarify the group’s financial capacity to fund the multibillionpeso project. This caused several groups and individuals to cast doubt on the unsolicited proposal, raising other issues such as the employment of current Naia staff. “Infrastructure investment is critical for our country to build back from the economic crisis caused by the Covid-19 pandemic. We at Megawide are ready to do our part by providing employment and enhancing the Philippines’ competitiveness in infrastructure, especially airports,” Ferrer said. Megawide has partnered with Indian infrastructure firm GMR Infrastructures Ltd. to meet the financial requirement for the P109billion unsolicited proposal. The Filipino engineering and construction firm will hold a controlling 60-percent interest in the partnership, and GMR, 40 percent. “Our par tnership with GMR is strong. Together, we delivered the transformation of Mactan-Cebu International Airport and the construction of Clark International Airport. Now, we are hugely excited to deliver a first-world Naia that uplifts the travel experience for all Filipinos and provides a critical assist to the national government’s efforts to rebuild after the pandemic,” said Edgar Saavedra, Megawide Chairman and CEO.       Megawide has proposed to implement the project between seven to five years in three phases. Megawide’s proposal replaced Naia Consortium’s unsolicited proposal, after the latter withdrew its offer due to the economic viability of the project. Megawide received the original proponent status for the project in July. Jovee Marie N. Dela Cruz and Lorenz S. Marasigan

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17% CIT rate for Peza firms urged in CREATE T By Cai U. Ordinario

@caiordinario

HE economy could recover faster from the pandemic if the government reconsiders the tax rate for Philippine Economic Zone Authority (Peza) locators under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill, according to a former dean of the University of the Philippines School of Economics (UPSE). In a presentation at the virtual Pilipinas Conference 2020 on Monday, National Scientist and former UPSE Dean Raul V. Fabella said under the CREATE bill, Peza locators will see their corporate income tax (CIT) rates increase to 25 percent from the current Gross Income Tax (GIT) of 5 percent. Fabella said that since the CIT equivalent of the 5 percent GIT paid by Peza firms is around 17 percent, based on the Department of Finance (DOF) calculations, it would be a better option to peg CIT rates of Peza firms at 17 percent instead of 25 percent. “Why not mandate that for Peza locators, instead of a move from 30 percent to 25 percent, it should be a

move from 30 to 17 percent. By the way, 17 percent is the current CIT tax applying to new DFIs [Direct Foreign Investments] in Vietnam and as I’ve already mentioned, 20 percent is the CIT for everyone else,” Fabella said. Vietnam, Fabella said, is an important template now for the Philippines. The country now enjoys an average investment rate of 30 percent of GDP in the past 20 years and its trade surplus continues to post rapid growth. Fabella said part of the reason is that Vietnam has had a CIT of 17 percent for 10 years. DFIs in that country also enjoy two years where they do not pay any CIT.

Public funds…

“Utilizing the Philippine International Trading Corp. for the procurement requirements of several national government agencies may have to be revisited and stopped, not only to save on unnecessary expenses amounting to billions of pesos in delays and commissions or service fees,” Lacson said in a separate statement. The senator asserted that since the creation of the Government Procurement Service (GPS) under the Department of Budget and Management,“the PITC may have outlived its purpose.” Lacson recalled that “initially, it [PITC] was only used to circumvent the procurement of medicines, especially for emergency needs. But later, it expanded into the procurement of other items like rice.” That said, the senator suggested that “it is only prudent that the government at least take a long hard look at the involvement of the PITC in the procurement of Covid-19 vaccines.”

Just deposited, not obligated

According to Drilon, the deposits of PITC’s clients from a small P4.8 billion in 2015 suddenly grew to P33.4 billion in 2015.“What is happening is that government agencies, which

Experts… “Last Saturday, the media reported that the BSP cited the surplus in the balance of payments and foreign investments and recovery in overseas remittances as basis for saying‘the worst is over.’ I should clarify, ladies and gentlemen, that these indicators have all been captured by the continued decline in the economic performance in the third quarter real GDP of minus 11.5 percent. I’m not sure these backward looking metrics can be considered as leading indicators for the last quarter of 2020,” Guinigundo said. Aside from a weaker-than-expected third quarter GDP, some private economists are now saying that the fourthquarter GDP is now shaping up to be worse than the 11.5- percent contraction in the third quarter of the year. ING Bank economist Nicholas Antonio Mapa, for example, recently said that the fourth quarter GDP is expected to worsen from the third-quarter data as agriculture and real property damage from a string of violent typhoons is expected to shave off at least 0.1 percentage points off of GDP. “It would be unrealistic to assume that we have already flattened the pandemic and economic activities are on their way

Continued from A1

are supposed to purchase products, would engage the services of this little-known trading agency and pass on the budget there so that they will say that these are already obligated, when, in fact, they are just deposited.” Drilon, however, said this set up triggered certain questions, noting that these amounts deposited by government agencies, running up to P33.4 billion in 2019, have grown yearly. For a start, the senator was keen to know whether the interest earned from these parked funds were “remitted back to the government?” Next, he zeroed on the profits that PITC makes from its operations as the purchaser or procurer of other agencies. “They charge what you call a service fee which is anywhere between 1 to 5 percent. Therefore, their profits in 2019, it made over P629 million on the basis of the Commission on Audit reports. How much of that was remitted to the government?” Moreover, the Senate Minority Leader voiced concerns over the key role of a “small trading company attached to the DTI” in the multibillion transaction to procure Covid-19 vaccine” from the world market. “What is a little bit worrisome to me is the agency is

Continued from A1 to recovery. A resurgence can reverse any initial gains. This is a reasonable assumption because in the US and Europe and some parts of Asia the virus is coming back with a vengeance,” Guinigundo said. This false sense of confidence carries with it some risks, Guinigundo said, including having mispriced risks in the market due to very low interest rates, not addressing the banks’ reluctance to lend and fuel the economy despite rate cuts and being unprepared for the fourth quarter slump.

Risk of asset bubbles In their latest meeting, the BSP unexpectedly decided to cut interest rates anew by another 2 basis points, bringing the country’s interest rates to their record lows. This also brings the cumulative cuts made by the BSP to 200 basis points just this year. Guinigundo said monetary policy should be “more circumspect” in dealing with extraordinary times as too much easing can compromise financial stability and foster mispricing of risks. “Monetary policy should guard against itself. It is easy to be carried away

He added that investors in Vietnam also enjoy an 8-percent CIT for four years before it reverts to 17 percent for the next four years. On the domestic front, Vietnam also offers a CIT of 20 percent for all local corporations operating in the country.

Investments for planet

Apart from looking at Vietnam and reducing the CIT for Peza locators, Fabella added that it is important to also think of the planet. Fabella said the government should incentivize rooftop solar Photovoltaic (PV) investments made by corporations. This can be a condition to accessing a 25-percent CIT under CREATE. Another option, he said, is for the government to consider passing an idle rooftop tax for the top 1,500 corporations. The tax, Fabella said, would automatically be lifted when the rooftop investment is made by the large companies. “Solar rooftop PV investment is a very quick turnaround. There are now enough solar installers in the country to make it a competitive market. By the way, solar panels are now produced in Laguna so we don’t have to import those,” Fabella said.

Services sector

In the same forum, University of being tapped to handle the procurement of Covid-19 vaccines and the allocation, from what we heard, is about P20 billion. At a 1-percent commission, that’s about P200 million for P20 billion. If you add the other deposits, which are from other agencies, assuming they earn 1-percent commission, their potential profit is P540 million.This is a small trading company attached to the DTI,” said Drilon. Drilon, a former Secretary of Justice, asserted that it was not necessary for State agencies to tap PITC to purchase goods they need, especially in buying Covid-19 vaccines. He observed that “in every government agency, they have a procurement service. In fact, the DBM has a procurement service. I could not understand why PITC is there [earning] commission for the agencies.” Asked if it was legal for PITC to get commission on these purchases or sales, Drilon replied: “I have been told that they are authorized to collect anywhere from 4 percent for projects P25 million and below, and 1 percent for projects worth P700 million and above.” He, however, hastened to clarify that“I have to check this. I understand this has some authority in a presidential decree or EO. Let me check that.”

Poor delivery record

In the same interview, Drilon was asked to

with excessive easing of monetary policy and release the extraordinary amount of liquidity in the system, because the economy is not doing well in a deep recession. To me, the BSP has done enough,” Guinigundo said. Economist and National Scientist Raul Fabella, who was also a speaker at the same forum, agreed with Guinigundo, saying the BSP may have cut its rates too much. “The BSP has overdone itself in a sense. We are now in negative real interest rate territory and the unintended consequences of that is [something to be] careful about as we move forward,” Fabella said. One of the major risks of this move, Guinigundo said, could be asset price inflation. “Now, price stability is not the only mandate of the BSP. Financial stability is another, based on the new law. When we get interest rates too low for too long, that could lead to mispricing of risks, and we might be setting the stage for asset price inflation in the near future,” Guinigundo said. An excessively high asset price inflation causes the formation of asset price bubbles. These bubbles arise when an asset class sees significant increases in their prices without underlying fundamentals to back up the price increase.

the Philippines economist Ernesto M. Pernia said the growth of the services sector has always been faster than manufacturing except in 2014 and 2017. Based on the data Pernia presented, Manufacturing grew 7.6 percent in 2014 and 8 percent in 2017. These are both higher than the growth of Services which grew 6.7 percent in 2014 and 7.4 percent in 2017.

Poverty targets

When the country recovers from the pandemic, Fabella said the government should target a reduction of poverty incidence to around 10 percent and rural poverty incidence of around 15 percent from the current 36 percent. Fabella said the Philippines should also target to grow per capita incomes to around $10,000 in 10 years and enjoy the benefits of a resilient economy. This can be made possible through rapid economic growth of around 6 to 7 percent annually. This growth should be fueled by an investment rate of 25 to 30 percent of GDP. Sustaining rapid economic growth for 10 years may be possible if the country can hit an export growth of 10 to 15 percent a year and for manufacturing growth to be faster than services growth. assess the performance of PITC. “Just looking at their financial statements would indicate that indeed delivery is poor, because even as since 2015, their customers’ deposit has increased from P4.8 billion in 2015 to P10.9B in 2016 to P19.70B in 2017, P30.7B in 2018, and P33.4B in 2019. “It means that this money just stays there and it keeps on growing every year.” As one example, the Bureau of Fire Protection (BFP) deposited in PITC P3.27 billion and in 2019 alone, P150 million more or less. “Surprising thing here, apart from fire trucks that were supposed to be purchased by PITC, 242 fire trucks were not delivered; surprisingly, they are tasked to build fire stations, 98 fire stations, in fact.” Noting that the charter of PITC states they are a trading company, the senator wondered: “How is it that they are now engaged in the construction of 98 fire stations and they have not delivered?” Drilon also cited reports that the PNP in 2016 deposited P1.347 billion for firearms, but only P311 million worth of firearms have been delivered. “The PITC is a can of worms. We will investigate this,” he added. The Senate Minority leader rued that, even as billions are idle in PITC, I both “the Secretary of Finance and the DOF are having difficulties [raising] funds due to the drop in revenues.” When the market comes to their senses, this bubble may burst and cause economic disruptions.

Despite massive cuts, banks still won’t lend The former BSP deputy governor also warned that despite the massive cuts from the BSP, banks are still not looking to lend. Theoretically, central banks use interest rate cuts to boost the economy. Lower interest rate cuts translate to the market as lower financing costs, thereby creating an encouraging environment for borrowing and investment. However, despite the cuts, bank lending continued to slow down in recent months. Latest data shows that bank lending grew at 2.8 percent in September, weaker than the 4.7-percent growth in August. This was attributed to banks’ reduced tolerance for risk, decline in loan demand due, in turn, to weak business and income prospects and observed shift by non-financial corporates to alternative sources of funds. Guinigundo also particularly cited the banks’ tighter lending standards, as seen in the BSP’s recent senior loan officers survey (SLOS), as indicator that banks are not lending as much as they are expected to. “Banks have chosen to be procycli-

Mobility curbs... Continued from A12

Mendoza said that with the ban on the deployment of health workers lifted, the country could undermine its ability to fight the ongoing pandemic. About 5,000 health professionals have already been allowed to leave for various parts of the world. “If this is a war then we’re losing the main fighters in our war because they’re going to fight in other fronts, not in our front, and so this is quite troubling,” Mendoza said. Given this reality that the country must face, Mendoza said, efforts must be exerted to strengthen the healthcare industry and put it on a par with health systems the world over. This could make the Philippines a preferred option not only for Filipino and foreign patients but also health workers needed in the fight against pandemics. This, Mendoza said, will also prevent the country from sending a wrong message to investors and the world that Philippine institutions could crumble under the weight of just one disaster or pandemic. “I agree with Mahar [Mangahas] that we should have greater mobility at this stage but if our healthcare sector is not able to absorb a sudden upsurge of Covid-19 cases then we’re going to be an on again, off again type of recovery. And we’re going to send a negative signal to all investors very quickly that we are unable to handle this crisis because of the weakness of our systems,” Mendoza said. Mendoza said these efforts must also extend to other institutions such as education and social protection which are necessary in uplifting the lives of millions. He added that these efforts must be backed by evidence-based measures that will, in turn, guide the government’s policies and objectives. “I think this is part of what may create a negative push back against such a laudable goal of opening up the economy, creating investments, creating lots of jobs if we don’t want that stopped, we have to set up institutions to protect that strategy in the longer term,” Mendoza said. He continued: “Here you are, government agencies depositing their budgets in PITC so it is made to appear that they are obligated, where, in truth and in fact, it is sleeping in the coffers of PITC and interest is being earned but we do not know if it is remitted to the coffers of the national government.”

GCG on carpet

Drilon, one of the authors of the Governing Council for GOCCs (GCG), wondered aloud if the oversight body is closely monitoring the performance of the PITC, which is a governmentowned and -controlled corporation. Drilon said he was at a loss on why, given the poor track record of PITC, would it still be tapped by other government agencies “to purchase what they need instead of doing it on their own? I cannot answer that. Maybe they are not yet aware how poor the performance of the PITC was. Maybe [the Secretary of Finance] is not aware that there is P33.4 billion parked with PITC per COA audited reports and that they charge a commission.” If the national government proceeds with letting PITC handle the vaccines purchase— estimated to cost P20 billion —the commission will run to about P200 million. “Going into that, the budget only provided for P8 billion for the purchase of Covid-19 vaccines.” cal. They tighten rather than ease their lending standards in this down cycle and lending rates remain elevated despite the accommodative monetary policy stance of the authorities… If this is to carry over to future periods, say the last quarter of 2020, or to 2021 and 2022, both capital formation and growth may actually be undermined,” Guinigundo said.

Confidence from the people While Guinigundo said there are, indeed, signs of recovery, he said confidence is the “name of the game” in the coming months, and to restore confidence, the government should clearly demonstrate that pandemic and health management of the people is their priority. Among his recommendations are repurposing some of the 2021 budget allocation and increasing the budget for health, education and infrastructure. Fiscal policy “should not be timid” during this unique time. For monetary policy, he said BSP now has to monitor the effects of their cuts and talk to the banks to give credit. “Unless this is effectively incredibly done, the economic scars of lost output of lost jobs, lost business weak consumer and business confidence will continue to take their toll on future economic performance,” Guinigundo said.

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DOJ indicts 8, but clears 40 in Maguindanao massacre case

HE Department of Justice (DOJ) has indicted eight more individuals in the 2009 Maguindanao massacre case but exonerated 40 others for lack of probable cause. In a 33-page resolution issued by a panel of prosecutors led by Assistant State Prosecutor Josie Christina Dugay, the DOJ held that the eight have conspired with the masterminds in planning the massacre, which claimed the lives of 58 individuals, including 32 journalists. “After assiduous and painstaking evaluation of the pieces of evidence submitted before us, we find that there is probable cause to charge respondents Moning Ampatuan Asim, Harris Ampatuan Macapendeng, Dali Kamendan a.k.a. Kumander Boy, Mautin Upam, Rene Upam, Datu Diego ‘Digo’ Mamalapat, Daud Kamendan a.k.a. Kumander Kuatro and a certain ‘Biton’ from the Philippine National Police, for the crime of multiple murder,” the resolution read. The DOJ held that the evidence against the accused remain uncontroverted due to their failure to participate in the preliminary investigation despite the heinous character of the offense and the opportunity given to them. Lawyer Nena A. Santos, counsel for the relatives of the victims, said they received the resolution dated August 28, 2019 only last month. In dismissing the complaint against the 40 others, the prosecutors said that they may have attended some of the supposed meetings but they did not take part in the actual killings. The prosecutors said six of those indicted were among those who attended the meetings and participated in the shooting of the victims. “To reiterate, mere presence at the scene of the crime does not automatically make one liable for it, much less presence in the place or meeting where the crime was allegedly planned,” the resolution read. “Even so, none of the complainants and their witnesses mentioned any active participation committed by these respondents, thus, a finding of probable cause must fail,” it added. It can be recalled that last year, the Regional Trial Court of Quezon City convicted eight members of the Ampatuan clan led by former Maguindanao Mayor Datu Andal “Unsay” Ampatuan Jr. and his brother Zaldy, who is a former governor of the Autonomous Region in Muslim Mindanao, and 26 other principal accused for 57 counts of murder. They were also sentenced to reclusion perpetua without parole. On the other hand, 15 of the 101 accused were meted only with six to 10 years of imprisonment for acting as accessories to the crime. T hey were ordered to pay P129.57 million in damages to the heirs of the victims. Joel R. San Juan

BI chief reports ‘exodus’ of 2-M foreign nationals from Jan to Sept

By Joel R. San Juan

@jrsanjuan1573

ROUND 2 million foreign nationals were forced to leave the country this year due to the Covid-19 pandemic, and Bureau of Immigration (BI) Commissioner Jaime Morente said he expects this “exodus” to continue until the end of 2020. The figure, according to Morente, covers the period between January and September. During the same period, the BI chief noted that there were 1.5 million foreign nationals who arrived in the country, majority of whom managed to get it before the full implementation of travel restrictions. “Similar to our overseas Filipino workers who wished to come home to their families during the pandemic, a lot of foreign nationals left as well,” Morente noted. “A lot of businesses closed, which also affected the foreign community in the Philippines,” he added. Based on the records of the BI, Koreans topped the list of foreign nationals who left the country with more than 400,000 departures. Next are Americans and Chi-

nese with around 300,000 departures, and Japanese with more than 166,000 exits. Morente noted that a significant number of Chinese nationals have exited the country due to the pandemic. As of mid-September, only less than 500,000 Chinese nationals have remained in the country. Records show that from 2013 to 2019, a total of 6.4 million Chinese nationals arrived in the country, while more than 6.1 million departed during the same period. “In 2020, due to the pandemic, for the first time, we’ve seen more departures of foreign nationals than arrivals,” Morente noted. Based on the records, 188,517 Chinese nationals arrived in the country from January to September 2020. On the other hand, a to-

@reneacostaBM

HE military said on Monday that the precision bombs that were turned over by the US government will greatly boost its effort in fighting both local and international terrorism. “We may have been successful in counterterrorism operations—most notably in Marawi—with ordinary munitions fitted in our legacy aircraft. But with the advent of these missiles and munitions, we are certain that they will greatly boost our cam-

FILE photo shows droves of Chinese nationals clad in personal protective equipment in haste in leaving the country at the Ninoy Aquino International Airport Terminal 1 amid the Covid-19 pandemic. NONIE REYES

tal of 292,669 Chinese nationals departed during the same period. “If we look at the difference of the figuresfrom2013to2020,only475,129 Chinese nationals from this period are left in the country,” Morente said but clarified that the figures do not reflect

Paranoia or real threat? Pampanga scion again claims unknown men may be out to kill him By Ashley Manabat Correspondent

NGELES CITY—The scion of a landed gentry here has again sounded the alarm, claiming that the threat against his life based on recent events is still very imminent. Jeffrey S. Dizon, 48, who on March 7 has offered a reward of P3 million to anyone who can provide the identity and information leading to the arrest of an alleged sniper in an apparent attempt on his life on March 3, said on Friday that he is again being tailed by unidentified persons. Dizon said sometime in April, while he was with his daughter Ma. Michaela at the Watsons store inside SM City Clark, he noticed a man with brown complexion wearing short pants who kept on following them but did not buy anything. Dizon said after leaving the Watsons store, they went to the Hypermarket and again saw the same man who also did not buy anything which prompted them to leave immediately. He said he reported the incident to the police.

Then again just recently on November 7, at around 6:20 to 7 in the evening at the SM City Clark, while Dizon was again with his daughter Michaela and an assistant he identified as Mario B. Mallari eating inside the Champas Mexican restaurant, they noticed a couple who sat near their table and began taking pictures and videos of them. “We were alarmed,” Dizon said. But instead of confronting them, he said, he was adviced by his daughter to just leave to avoid them. So, they stayed near the exit of the mall where they clearly saw one of the couple, the man who was earlier taking pictures and videos of them, follow them. But when he saw them just standing near the exit of the mall, the man went back inside the restaurant. “It was clear that he was following us…,” Dizon said. Because of these incidents, Dizon said he again fears for this life and that of his family. In a news statement, Dizon said he is a shareholder and director, together with his siblings he identified as City of San Fernando Councilor Celestino S. Dizon, Erwin S. Dizon, and Lea D. Angeles, and his

AFP hails delivery of American ‘smart munitions’ to fight terrorists in Mindanao By Rene Acosta

Editor: Vittorio V. Vitug • Tuesday, November 24, 2020 A3

paigns and contribute to the global drive to fight and defeat terrorists,” said Armed Forces spokesman Major Gen. Edgard Arevalo. Arevalo was reacting to the ceremonial turnover of $18 million worth of precision guided munitions (PGMs) by US National Security Advisor Robert O’Brien to Foreign Affairs Secretary Teodoro Locsin Jr., which the Filipino top diplomat said would be used against terrorists in Mindanao. Other than local extremists, foreign terrorists also operate in Mindanao in tandem with members of local groups such as the Maute Group,

Abu Sayyaf Group and the Bangsamoro Islamic Freedom Fighters which have all allied themselves with the Islamic State. “These ‘smart munitions’ with such capability and precision will aid immensely the AFP in ridding the country of terrorist menaces,” Arevalo said. The donations, which were flown in by a US military plane included 24 MK-82 bombs, an MK-82 crate/ packaging, 100 tube launched optically guided wireless tow missiles 2A bunker busters and 12 improved target acquisition system and support equipment.

mother Ludivina, in a family corporation connected with several real-estate projects in Pampanga and this city. Dizon is the eldest among the siblings of the late Tomas D. Dizon and one of the heirs of vast estate holdings here and in the rest of Pampanga estimated to be worth billions of pesos. In March this year just before the lockdown due to the pandemic, Dizon called a news conference where he offered the P3-million reward money for any information leading to the arrest of the alleged sniper in an alleged attempt on his life. Dizon said apparently an unknown gunman shot him but missed and instead, hit the concrete wall near where he was standing. Later, he said, it was determined by the police investigation that the shot came from across the street and he was clearly the target. But the gunman missed because Dizon was moving around at the time of the shooting. He said he also discovered three other bullet marks on the walls that came from a sniper rifle. Dizon still has no suspect or suspects.

those who came in before 2013. Morente lamented the possible impact on the terrorism sector of the country of the massive departure of foreign nationals. “The government had made significant strides in improving tour-

ism. However, this pandemic proved to counter all previous efforts,” the BI chief noted. The BI is still not allowing foreign tourists to enter the country due to as part of its measures to stop the spread of the virus.

Benguet lawmaker admits ₧8-B infra allocation for his district

MID the claim of Sen. Panfilo Lacson that the budget allocation for infrastructure for congressional districts increased even more under the leadership of Speaker Lord Allan Velasco, the chairman of the House Committee on Appropriations admitted the existence of an P8-billion allocation for his district in Benguet. House Committee on Appropriations Chairman Eric Go Yap made the admission after Lacson’s claim that Velasco’s allies have received additional allocations in House-approved General Appropriations Bill (GAB), which was passed last October 16. Yap of ACT-CIS, who is also the current caretaker of Benguet, said there are some P8 billion allocated for the construction of some infrastructure projects of the national government in Benguet. “Why should I be ashamed of it? Did I ask for it? No. Who identified it? DPWH [Department of Public Works and Highways]. Is this project a ghost project? No,” he said. Without naming the district, Lacson revealed that the P4-billion or P5billion allocation for a congressional district has increased to almost P8 billion following the approval of GAB, “Merong distrito din na nasa P4 [billion] or P5 billion, paglabas ng GAB, nadagdagan pa ulit ng another P4 [billion] or

P5 billion, naging halos P8 billion na. ’Nung nagpalit ng liderato, nagpalit ang ihip ng hangin.” Velasco was elected as Speaker, replacing Taguig Rep. Alan Peter Cayetano amid deliberations of the proposed P4.5trillion General Appropriations Act. Lacson earlier lambasted the “disparity,” or the unfair split of allocation toward the infrastructure budget of the lawmakers wherein he cited that billions of pesos are being allotted in few selected districts. But Yap said the allocations for some infrastructure projects of some lawmakers are bigger because they are also part of big-ticket projects of the national government. He also said the lower chamber will let the DPWH to explain these fundings, saying it was the one who programmed the projects. The leadership of Velasco, however, has not responded yet despite several issues of Lacson on the House version of the national budget. In the initial investigation, Presidential Anti-Corruption Commission Commissioner Greco Belgica alleged that 10 percent to 15 percent is the normal cut for infrastructure projects that reportedly goes straight to some congressmen, while district engineers and contractors also allegedly get a cut of the budget. Jovee Marie N. Dela Cruz

DAR’s Castriciones launches urban gardening project in Tondo slums

HE Department of Agrarian Reform (DAR) on Monday launched an urban gardening program in Tondo, Manila, in a bid to boost vegetable crop production in one of Metro Manila’s congested areas. DAR Secretary John R. Castriciones said during the launching of the “Buhay sa Gulay” program held at the St. John Don Bosco Parish that while many Filipinos were affected by the Covid-19 pandemic after losing their jobs, hence, no means to put food on the tables, farmers were least affected by the crisis because

they have their farms for their family and more importantly, contributing to the country’s food basket. Buhay sa Gulay will utilize the parish’s 8,000-square-meter football field for vegetable farming that would benefit the families and residents in 17 barangays. “This land is currently idle and we would use this to teach our urban dwellers how to farm so that they could produce their own food and also sell some of their yields to earn money,” the DAR chief said in a news statement. Castriciones further said that the

DAR’s mandate is to distribute lands to landless farmers in the countryside and provide them with various support services, including training, to help them boost their farms. These farmers in rural communities would now share their learnings with the urban dwellers. DAR-Calabarzon Regional Director Rene Colocar explained that five farmer-scientists, who are also agrarian reform beneficiaries (ARBs) of the DAR in the province of Cavite, will teach the benefiting barangays the technical know-how on cultivating the lands. Jonathan L. Mayuga

A4 Tuesday, November 24, 2020 • Editor: Vittorio V. Vitug

Lawmaker: Coal-plant ban will put PHL’s energy security at risk By Jovee Marie N. Dela Cruz @joveemarie

PARTY-LIST group on Monday said the Philippines is not yet ready to immediately shift to renewable energy (RE), saying banning of coal-fired power plants may put the country’s energy security at risk. Party-list group Alyansa ng mga Grupong Haligi ng Agham at Teknolohiya para sa Mamamayan (AGHAM) President Angelo B. Palmones issued the statement as he welcomed the Department of Energy’s (DOE) recent pronouncement to clear a confusion brought about by an earlier announcement imposing a moratorium on the endorsement of greenfield coal power plants. “The country still needs coal power plants to address the demand,” he said. AGHAM Party-list, Palmones added, believes the country cannot immediately shift RE, which is being pushed by anti-coal groups. “The anti-coal groups should understand that the country could not

go full blast on RE at once because it is neither cheap nor reliable,” Palmones added. According to Palmones, DOE’s recent clarification that there would be no policy to bar existing plants from continuing their operations, adding such is a huge relief for major power players in the country. He added that banning coal-fired power plants, both existing ones and those that have already been given prior endorsements and Certified Energy Project of National Significance from DOE, will put the country’s energy security at risk. With the sheer volume of the country’s rising power demand, the party-list group said the Philippines needs reliable sources of power and provide such with a stable baseload generating capacity. Earlier, Energy Secretary Alfonso Cusi said that coal-fired power plants will continue to be an important component of the Philippines’s energy mix. The government cannot afford to mandate a retirement of such facilities although it is prepared to disallow additional projects.

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Peza confident of hitting P100-B new investments goal by December

By Elijah Felice E. Rosales

@alyasjah

HE Philippine Economic Zone Authority (Peza) is confident it can register over P100-billion new investments this year, as it looks to convince multinationals moving out of China to locate in industrial parks here. In a news briefing on Monday, Peza Director General Charito B. Plaza expressed optimism her agency can breach P100 billion in investment haul this year. She said a number of investors are planning to relocate to the Philippines before the year ends, and their registrations

could prove significant at a time Peza is playing catch up. Moreover, some of the existing locators in the country have said they might push through with their expansion plans as soon as possible, giving Peza a glimmer of hope that applications will be filed

before the Covid-19 year ends. “We might exceed more than P100 billion this year,” Plaza said. “In fact, we have expansions from our existing companies who have manifested they will continue with their expansion plans this year, or early next year.” According to Plaza, her agency is currently assisting an Israeli investor who is transferring all of his 16 factories in China to the Philippines. “As for the Israeli investors, we will first have an MOU [memorandum of understanding]. We are helping him find the appropriate economic zone to locate their 16 branches coming from China,” Plaza disclosed. Investments registered with the Peza from January to October declined more than a fourth to P72.64 billion, from P99.32 billion during

the same stretch last year. Further, projects applied to the agency fell to 248, from 454 new ventures. As such, the number of workers employed in economic zones slipped by over 2 percent to 1.53 million, from 1.57 million. As of November 6, the Peza reported 87 percent, or 2,627, of its locators are operating, some back in factories and offices, while some through remote arrangements. However, at least 388 firms have yet to resume operations in spite of the easing of quarantine rules nationwide. “As for those who are still closed up to now, most of them have problems with raw materials, as most of their units are imported from other countries. Likewise, some of them have seen their world buyers cancel orders,” Plaza revealed.

WSO slapped on Skyway project after mishap Blue Economy–the next steps to be taken By Samuel P. Medenilla

HE Department of Labor and Employment (DOLE) on Monday slapped a work stoppage order (WSO) against the contractor of the Skyway Extension Project, which figured in a construction incident, which left one person last Saturday. DOLE-National Capital Region (DOLE-NCR) Director Sarah S. Mirasol made the issuance the office probes the possible liability of the EEI Corp. and/or its project manager Jose Q. Ilagan over the mishap. “In view of the gravity of the presumptive negligence of the contractor, this supplemental work stoppage order is issued to stop the construction activity,” Mirasol said. “Failure to comply with this order is a criminal offense punishable under Article 288 of the Labor Code of the Philippines, as amended,” she added.

the area of the construction site, where a crane of EEI tilted and hit a steel girder causing it to fall and hit several passing vehicles along East Service Road in Barangay Cupang, Muntinlupa City. However, the scope of the WSO was later extended to cover the entire Skyway Extension Project at the Sucat, Alabang Viaduct. Mirasol summoned the representative of EEI and its subcontractors to attend a hearing at 10 a.m. on Tuesday at DOLE-NCR’s Muntaparlas Field Office in Las Piñas City. Aside from the incident, DOLE spokesman Rolly Francia said other issues to be discussed in the meeting is what will happen to the workers affected by the WSO, as well as if some government office, which allowed the Skyway Extension project, should also be held liable. He said the WSO will likely remain in effect until the completion of the probe.

Expanded scope

Possible lapses

@sam_medenilla

INITIALLY, the WSO only covered

IN an interview with PTV, Occu-

pational Safety and Health Center (OSHC) Executive Director Noel C. Binag said based from their preliminary findings on the incident, he said EEI may be liable for some OSH violations. Citing the video of the incident, he noted no crowd control measures such as traffic enforcer and signages were fielded on the site when the mishap occurred. “ This is a joint responsibility of the public sector like LGU [local government unit], traffic enforcers, contractor, safety officers, and the project owner— they are all responsible to ensure the workplace is safe,” Binag explained. Furthermore, the contractor also appears to have failed to identify hazards in the said worksite. If found liable for the incident, which killed a person and injured six others, the contractor and the project owner may be fined between P20,000 to P100,000 for violating the OSH Law, as well as be charged of negligence resulting in homicide.

OIL FIRMS RAISE DIESEL, KEROSENE PUMP PRICE; GASOLINE UNCHANGED

HE pump price of diesel and kerosene will increase this week, oil firms announced Monday. In separate advisories, diesel will go up by P0.50 per liter and kerosene will increase by P0.30 per liter.

G a s o l i n e p r i c e s r e m a i n unchanged. Seaoil Philippines, Phoenix Petroleum, Total Philippines, PTT Philippines, Petron Corp. and Pilipinas Shell said they would implement their price adjustment at 6

a.m. of Tuesday, November 24. Other oil firms are expected to follow suit. Last week, gasoline prices increased by P1.05 per liter, diesel by P1.55 per liter and kerosene by P1.30 per liter. Lenie Lectura

Biotech program seeks to distribute ‘drought resistant’ saba banana plantlets to farmers

HE Department of Agriculture (DA) Biotechnology Program said it aims to distribute 7,000 to 10,000 “drought-resistant” saba banana plantlets to farmers to help them cope with the impact of climate change. In a news statement, the DA Biotech Program said its “mass production of drought-tolerant saba project” is a response to the challenges raised by climate change to Filipino banana farmers. The DA Biotech Program noted that they aim to “build a strong, resilient, and sustainable agriculture and fishery sector to withstand adverse effects of climate change through the use of biotechnology.” The project, the program added, is also in line with the DA’s “Plant, Plant, Plant” program that was kickstarted at the start of the pandemic to help farmers increase their output and earn more profit. “While multinational companies can provide quality planting materials for contracted farmers, many

smallholders do not have access to quality planting materials,” it said. “Thus, through this project, the program aims to increase production of quality planting materials of saba banana through the utilization of mass propagation technologies and protocols,” it added. The DA Biotech Program said the project is being spearheaded by the Institute of Crops Sciences (ICropS) and the Institute of Plant Breeding (IPB) of the College of Agriculture and Food Sciences (CAFS), University of the Philippines Los Baños (UPLB). “This particular project will provide farmers with 7,000-10,000 saba plantlets produced through ‘meristem’ culture [or generally known as tissue culture],” it said. “This ‘drought-tolerant’ plantlet, or that which can grow and survive in agricultural fields and other planting areas with limited water supply in an extended period of time, will then be examined to produce seedlings free of viruses that commonly infect bananas,” it added.

Citing Doctors Pablito Magdalita and Fe dela Cueva, who are leading the project, the DA Biotech program said they “expect to increase the production of quality saba planting materials nationwide by 90 percent to 98 percent.” The DA Biotech Program said through the DA Regional Field Offices in Regions 3, 4A and 4B that the drought-tolerant, virus-free, tissuecultured plantlets will be further multiplied into suckers that can be distributed for planting by farmers and growers in drought-prone areas and typhoon-hit areas. The materials could also be a means to the livelihood of the families under the “Balik-Probinsya” Program of the government, it added. “Despite the devastating impacts of calamities which was further magnified by the emergence of the global health crisis, indeed biotech tools can be seen as a ray of hope for the banana industry sector to ensure availability, accessibility, and affordability of this widely consumed fruit,” it said. Jasper Emmanuel Y. Arcalas

By Henry J. Schumacher

T the beginning of November, I wrote about the “Blue Economy,” explained what Blue Denmark and Blue Singapore stand for, and asked the big question: Where is Blue Philippines? I am glad that this exciting topic has been picked up by other writers, agreeing with me that “the Philippines is in a prime position to be a key player in the Blue Economy.” They added, “Although the Maritime Industry Authority [Marina] and the National Economic and Development Authority [Neda] have been talking about the Blue Economy for some time now, the Philippines remain bereft of an overarching development plan to fully maximize its maritime potential” and added “our next leaders [in 2022] will do well by aggressively developing our Blue Economy.” But I am firmly of the opinion that the Philippines cannot wait until 2022; the development of the Blue Economy is an endeavor that the Philippine government and Marina need to implement NOW, for the following reasons: 1.)Through the years, the Philippines has been the world’s largest supplier of maritime services. The maritime service sector is composed of four subsectors: • Crew supply and management: need to retain and expand the Philippines as the leading maritime country in the world; • Ship management: need to promote the Philippines as the next maritime services center of Asia and the world; • Business-process management services, including education and training: need to deepen this part of the BPO industry with the opportunity to develop business-outsourcing services for ship managers, marine insurance, legal services, and others; and • Shipbuilding and repair: the Philippines is one of the large players in this subsector. 2.) Shipping in Asean becomes more critically crucial after global trade is affected by the US policies. Europe is looking at Asean and Asia as a focus for trade and investments. Luckily, the 15 Asia-Pacific nations, including China, agreed in mid-November to clinch the world’s largest free-trade agreement with priority. The Regional Comprehensive Economic Partnership (RCEP), which includes countries stretching from Japan to Australia and New Zea-

land, aims to reduce tariffs and strengthen supply chains. The Philippines is part of RCEP, and Philippine shipping lines should be part of and increase needed regional shipping. As Department of Trade and Industry Secretary Lopez said on November 15: the Philippines joining the RCEP will bring local exporters opportunities to double their shipment, while protecting sensitive products such as agricultural goods. Please take note that the RCEP covers 30 percent of global economic production. In other words, despite the impact of the coronavirus 2019 pandemic, which has affected the blue economies around the world substantially, the time is now for Marina to establish a world-recognized Blue Philippines: creating an International Shipping Fleet, carrying the National Flag. What needs to be done to achieve the potential? Attract investments in shipping that will allow foreign shipping companies to register their ships in the Philippines Enhance a Philippine Ship Registry, which will set the regulations that will encourage and facilitate the registration of safe and environmentally friendly ships Allow Philippine flag vessels to operate domestically and internationally in one registration to enhance their competitiveness Encourage and allow the participation of Philippine flag vessels in the carriage of government cargo to and from the Philippines Government imports should be secured on FOB (freight costs are separate from the cargo value of imports) to enable Philippine-flagged ships to participate in the carriage of government cargo and thereby earn foreign exchange for the country, and have the profits of these transactions made taxable in the Philippines. What will the Philippines / the Philippine government gain from this? • Philippine registered companies pay income tax to the government for businesses done here and abroad. • Foreign registered companies supposedly pay income tax on their businesses done locally, but in the case of destination charges/services, none as they incorrectly don’t declare these as local income. Their freight income generated abroad is correctly not being taxed by the Philippine government as well. • Freight revenues stay in the country instead of being remitted abroad • Importers will be protected from abuse of foreign shipping lines through the imposition of excessive surcharges. Importers will now have alternative options to bring in goods at lower costs in a real market environment • Local consumers will buy imported products at a reduced landed cost as unnecessary surcharges are eradicated. Paving the way for all domestic carriers to consider going international, Marina will “harvest” the above advantages for the Philippine economy. Additionally, Marina will give work to displaced seafarers for as long as the local vessels comply with international maritime safety standards. And once domestic companies start to engage in international trade, foreign-flagged carriers will have competition from Philippine flag carriers. In conclusion, in partnership with the private sector, Marina should attract shipping investments that will uplift our flag registry, with the Philippines becoming a leading maritime services center in the region. The time to do this is now; I am aware of investors that are willing to invest in a Philippine Flag Container Shipping Line. Feedback is welcome; contact me at hjschumacher59@ gmail.com

News

BusinessMirror

www.businessmirror.com.ph

Tuesday, November 24, 2020 A5

Genetically modified Golden Rice variety may hit PHL markets by 2023–PhilRice By Jasper Emmanuel Y. Arcalas @jearcalas

HE Golden Rice project has moved one step forward from getting the Vitamin A-infused staple commercialized but proponents roughly estimate that the commodity would hit the markets not until 2023 or later. The Philippine Rice Research Institute (PhilRice) said the 60-day public comment period for the proposed commercial propagation of Golden Rice has formally commenced. “Golden Rice has been previously assessed for food safety in five countries, including the Philippines, and we are confident that it will meet the rigorous standards of our regulators,” PhilRice Executive Director Dr. John de Leon said in a news statement issued on November 20. At a virtual news briefing on Monday, PhilRice Healthier Rice Project Leader Dr. Renante L. Ordonio said everyone has the chance to give their comments to the Department of Agriculture-Bureau of Plant Industry (DA-BPI) regarding their application for commercial propagation. The application for commercial propagation is the last stage of the regulatory process for biotechnology crops under the Joint Department Circular 1 of 2016. However, Ordonio said the vision of Golden Rice hitting the domestic market is far from reality as the crop shall undergo further regulatory processes and approvals, such as variety registration and nutritional test after securing a commercial propagation permit. More so, Ordonio said they accept the fact that the commercial propagation application could also face opposition, thus, dragging the application process further. But based on their rough estimates, Ordonio said they are hopeful that the Golden Rice would be distributed in the market as early as 2023. “The reality is that there are oppositions. We used to expect to receive permits as early as possible but it did not happen as the appli-

cation process dragged on. But we are hopeful that [it will be done by 2023],” he said. “There are bottlenecks along the way. We still have to conduct surveys in provinces where golden rice will be deployed as well as market surveys and pass nutritional tests by independent bodies,” Ordonio added. For years, PhilRice and the International Research Rice Institute (IRRI) have been working together to develop and introduce Golden Rice in the Philippines, as a means to combat Vitamin A deficiency. Golden Rice is a genetically modified rice that contains beta-carotene (a source of vitamin A) and can be grown like ordinary inbred rice, according to PhilRice. “It is intended to provide 30 percent to 50 percent of the estimated average requirement for Vitamin A of young children. Vitamin A deficiency [VAD] continues to be a significant public health issue affecting almost 17 percent of Filipino children aged five and below,” it said. “A successful application will enable DAPhilRice to proceed with the pilot-scale deployment of Golden Rice to selected Philippine communities and lay the groundwork for further research on its impact on vitamin A intake and status,” it added. PhilRice eyes to conduct its pilot scale deployment of Golden Rice in 7 provinces with high incidence of Vitamin A deficiency in the country with two being in Luzon, another two in Visayas and three in Mindanao, Ordonio added. Last year, the Philippine government approved the biosafety permit of Golden Rice (GR2E) for food, feed and processing (FFP) use after it concluded that the genetically modified crop is as “safe” for human consumption as the conventional staple. In a 22-page consolidated report, the Bureau of Plant Industry (BPI) pointed out that the Department of Health-Biosafety Committee (DOH-BC) concluded that GR2E “will not cause significant adverse health effects to human and animal health.” (Related story: https:// businessmirror.com.ph/2019/12/19/golden-rice-safe-for-humans/).

Popcom chief fears lockdowns may result in 17.6% spike in birth rate to 250K babies By Cai U. Ordinario

@caiordinario

F the government were to be successful in its efforts to control unplanned pregnancies amid pandemic lockdowns nationwide, the Commission on Population and Development (Popcom) said the increase in birth rates due to quarantines could be less than 5 percent. Undersecretary and Popcom Executive Director Juan Antonio Perez III told the BusinessMirror that the government, under business as usual, will lead to a birth rate of 17.6 percent, which translates to about 250,000 babies. Perez said a birth rate of 17.6 percent is “unprecedented and record breaking” for the Philippines. He said this is the reason the Popcom is intensifying its work in nongeneral community quarantine areas. “Our best outcome would be a minimal increase, under 5 percent. That would by itself be against the pattern of declining birth rates since 2012,” Perez said on Monday. Perez said preventing an increase in the birth rate will help in the country’s efforts in combating stunting and wasting. With fewer children, households will be able to provide adequate nutrition for young Filipinos. Preventing wasting and stunting, especially among children, is important. When children are undernourished and stunted, they may be compromised for life. Wasting and stunting does not only compromise the health of Filipinos but also their ability to excel in school and potential to earn a decent living in the future. Perez said this is the reason for the government’s efforts to promote full and exclusive breastfeeding of up to five months, proper weaning, targeted feeding programs and implement law on first 1,000 days, including the period of maternity. “Our increased work on communitybased family planning in collaboration with

volunteers and the challenge initiative for minors are our linked response to the potential problem,” Perez said. “We plan to monitor closely the annual indicators such as maternal death rates, crude birth rates, including adolescent birth, wasting, under 5 mortality rates and contraceptive prevalence rates,” he added. On Monday, University of the Philippines economist Ernesto M. Pernia echoed the concern of Popcom with regard to the increase in birth rate next year amid the lockdowns. Pernia blamed the “thinly spread health services, including family planning program” for the increase in what he termed as “quarantine babies” expected to be born next year. In July, the Popcom said Covid-19 will lead to a baby boom, the death of thousands of mothers, and a spike in domestic abuse. Popcom said the Covid-19 pandemic and disruptions in access to essential services could result in increasing the annual maternal deaths to 3,200, or 26 percent higher than 2019, as well as in a significant increase in unplanned pregnancies, including among thousands of teenage girls. Popcom also said domestic violence is expected to increase as women and girls are stuck in the same home as their abusive partners, although many of them would be unreported. In an online presentation during the celebration of World Population Day, University of the Philippines Population Institute Professor Maria Paz Marquez said their study showed that the number of unintended pregnancies this year could reach 5.17 million, representing a 2.07 million increase due to the pandemic. This represented a 42-percent increase in the number of unintended pregnancies or 79,000 additional unintended pregnancies per month of quarantine. She said this was due to the community quarantine induced reduction in family planning services.

BusinessMirror

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CUSTOMER SERVICE REPRESENTATIVE (CHINESE ACCOUNTS)

LONG, MINGRONG Chinese

CUSTOMER SERVICE REPRESENTATIVE (CHINESE ACCOUNTS)

MA, XIAOLIANG Chinese

CUSTOMER SERVICE REPRESENTATIVE (CHINESE ACCOUNTS)

QI, YONGFU Chinese

CUSTOMER SERVICE REPRESENTATIVE (CHINESE ACCOUNTS)

WANG, XINDONG Chinese

CUSTOMER SERVICE REPRESENTATIVE (CHINESE ACCOUNTS)

WANG, JUNJIE Chinese

CUSTOMER SERVICE REPRESENTATIVE (CHINESE ACCOUNTS)

10.

WANG, YUNLONG Chinese

CUSTOMER SERVICE REPRESENTATIVE (CHINESE ACCOUNTS)

50.

11.

YAN, ZHENPENG Chinese

CUSTOMER SERVICE REPRESENTATIVE (CHINESE ACCOUNTS)

12.

YANG, CANBIN Chinese

CUSTOMER SERVICE REPRESENTATIVE (CHINESE ACCOUNTS)

BAOLONG TECHNOLOGY INDUSTRY GROUP LIMITED INC. 20-29th/f Century Diamond Tower Kalayaan Ave. Cor. Salamanca St. Poblacion Makati City

13.

YU, LEI Chinese

CUSTOMER SERVICE REPRESENTATIVE (CHINESE ACCOUNTS)

ZENG, WUJUN Chinese

CUSTOMER SERVICE REPRESENTATIVE (CHINESE ACCOUNTS)

15.

ZENG, KAIWEN Chinese

CUSTOMER SERVICE REPRESENTATIVE (CHINESE ACCOUNTS)

16.

ZHUANG, WEIPENG Chinese

CUSTOMER SERVICE REPRESENTATIVE (CHINESE ACCOUNTS)

14.

8 STONE BUSINESS OUTSOURCING OPC 5-10/f Tower 1 Pitx Kennedy Road Tambo Parañaque City 17.

CHEN, XIAOJIAN Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

18.

CUI, HONGHE Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

FU, JIANSEN Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

LU, WANGQUAN Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

NONG, CHENGWEI Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

TIAN, HAOJUN Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

19.

20.

21.

22.

23.

WANG, YONG Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

24.

WU, BINGWEN Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

25.

ZHANG, XUNAN Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

ACQUIRE ASIA PACIFIC PHILIPPINES INC. Lg-c Worldwide Corporate Center Edsa Cor. Shaw Blvd. Mandaluyong City 26.

NGA, BIBIANE Cameroonian

TECHNICAL SUPPORT REPRESENTATIVE

27.

NGAMUYEKA, GERARD CHRISTIAN SUNDAY Congolese

TECHNICAL SUPPORT REPRESENTATIVE

28.

NGBOKO, PLACIDE SISQO N’DJOLY Congolese

TECHNICAL SUPPORT REPRESENTATIVE

ALL NIPPON AIRWAYS CO., LTD. 15/f Tower 11 Rcbc Plaza 6819 Ayala Ave. Bel-air Makati City 29.

BEPPU, YASUYUKI Japanese

AIRCRAFT MAINTENANCE ASSISTANT MANAGER

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

POSITION MARKETING CONSULTANT (MANDARIN SPEAKING CLIENTS)

LIU, LIXIA Chinese

FOREIGN NATIONAL / NATIONALITY TAN MEI YEE Malaysian

CUSTOMER SERVICE REPRESENTATIVE (CHINESE ACCOUNTS)

NO.

125.

HE, ZHAOCAI Chinese

POSITION

CHINESE CUSTOMER SERVICE

CUSTOMER SERVICE REPRESENTATIVE (CHINESE ACCOUNTS)

FOREIGN NATIONAL / NATIONALITY

MAUNG OO Myanmari

CUSTOMER SERVICE REPRESENTATIVE (CHINESE ACCOUNTS)

NO.

ESTABLISHMENT / ADDRESS

39.

CHANG, WEI Chinese

www.businessmirror.com.ph

AVIA MANAGEMENT GROUP INC. 6th-10th Flr. Southkey Hub Indo-china Drive Northgate Cyberzone Alabang Muntinlupa City LIAO, XIN Chinese

CUSTOMER SERVICE REPRESENTATIVE (MANDARIN SPEAKING)

51.

CHEN, WENJIN Chinese

MANDARIN CUSTOMER SERVICE REPRESENTATIVE

52.

GUO, ZHIGANG Chinese

MANDARIN CUSTOMER SERVICE REPRESENTATIVE

53.

JIANG, SHUGUO Chinese

MANDARIN CUSTOMER SERVICE REPRESENTATIVE

54.

MA, CONGXIN Chinese

MANDARIN CUSTOMER SERVICE REPRESENTATIVE

55.

PENG, LIXIN Chinese

MANDARIN CUSTOMER SERVICE REPRESENTATIVE

56.

SHANG, HUAIYOU Chinese

MANDARIN CUSTOMER SERVICE REPRESENTATIVE

57.

SHU, QIAN Chinese

MANDARIN CUSTOMER SERVICE REPRESENTATIVE

58.

TENG WENN HUEI Malaysian

MANDARIN CUSTOMER SERVICE REPRESENTATIVE

59.

WU, GUOJING Chinese

MANDARIN CUSTOMER SERVICE REPRESENTATIVE

60.

XU, HONGJIA Chinese

MANDARIN CUSTOMER SERVICE REPRESENTATIVE

61.

XUE, CHAO Chinese

MANDARIN CUSTOMER SERVICE REPRESENTATIVE

62.

YANG, JINGGANG Chinese

MANDARIN CUSTOMER SERVICE REPRESENTATIVE

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

CGI IT UK LIMITED INC. 2/f One World Square Bldg. Mckinley Hill Pinagsama Taguig City 100.

CHRISTENSEN, PETER ANDIYANA SPARR Norwegian

MULTILINGUAL SERVICE DESK OPERATIONAL LEAD

COLDSTREAM MARKETING SOLUTION INC. 603-4 Eastfield Ctr. Moa Comp. Macapagal Ave. Brgy. 076 Pasay City 101.

MA, YINGYING Chinese

CUSTOMER SERVICE REPRESENTATIVE

102.

XUE, YONGDONG Chinese

CUSTOMER SERVICE REPRESENTATIVE

103.

ZHANG, MENGYUAN Chinese

CUSTOMER SERVICE REPRESENTATIVE

DA SUCCESS BUSINESS TRADING INCORPORATED Unit 25d 2/f Zeta Ii Bldg. 191 Salcedo St. San Lorenzo Makati City 104.

JI, HONGYU Chinese

CHINESE SPEAKING ADMIN ASSOCIATE

105.

JIANG, YUANYUAN Chinese

CHINESE SPEAKING ADMIN ASSOCIATE

106.

WANG, DONG Chinese

CHINESE SPEAKING ADMIN ASSOCIATE

DAXIFA CORPORATION Mpire Center 93 West Avenue Project 7 Bungad 1 Quezon City

63.

KOH JUN JIE Malaysian

COMPUTER SYSTEM ANALYST

64.

PYAE PHYO AUNG Myanmari

COMPUTER SYSTEM ANALYST

65.

FENG, CHENGLONG Chinese

MANDARIN CUSTOMER SERVICE

108.

MANDARIN CUSTOMER SERVICE

MARKETING AND SALES AGENT

66.

HONG, AFANG Chinese

CHEN, GUANYINSHENG Chinese

109.

MANDARIN CUSTOMER SERVICE

MARKETING AND SALES AGENT

67.

HUANG, CHUNRONG Chinese

CHEN, QUNHUI Chinese

110.

MANDARIN CUSTOMER SERVICE

MARKETING AND SALES AGENT

68.

SUN, CHENG Chinese

HUANG, KUNSHAN Chinese

111.

MANDARIN CUSTOMER SERVICE

MARKETING AND SALES AGENT

69.

YUAN, MING Chinese

LI, PEICHAO Chinese

BILLION DRAGON OUTSOURCE PHILS., INC. 3/f Ayala Mall Southpark National Road Alabang Muntinlupa City 70.

JIA, YUTING Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

71.

LI, DONGWEI Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

72.

WANG, YANG Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

73.

WANG, RENPING Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

74.

ZHANG, JIWANG Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

ZHOU, YI Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

75.

BOGIL FOODS CORPORATION 3-4/f Skygate Bldg. 4 E. Rodriguez Jr. Ave. Bagong Ilog Pasig City 76.

CHANG, KWANG OH South Korean

GENERAL MANAGER

30.

CHEIN KYAR CHAN Myanmari

CHINESE CUSTOMER SERVICE

31.

DAM THI PHUONG Vietnamese

CHINESE CUSTOMER SERVICE

BRENMEDIA INTERNATIONAL INC. 10/f Unit Q Cyber Building Eastwood Cyberpark City Bagumbayan 3 Quezon City

32.

FONG TAI PING Malaysian

CHINESE CUSTOMER SERVICE

77.

DU, QUN Chinese MIGUEL TAN SEN YONG Malaysian

107.

OOI ENG SEANG Malaysian

ONLINE SUPPORT ANALYST

EASTERN GOLD CORPORATION 503 Nueva St Binondo Manila

FIRST GREAT COMPUTER TECHNOLOGIES INC. Lot 5 Sta. Agueda Cor. Queensway Pagcor Drive Sto. Niño Parañaque City 112.

LU, YELONG Chinese

MANDARIN CUSTOMER SERVICE REPRESENTATIVE

113.

QIN, YANG Chinese

MANDARIN CUSTOMER SERVICE REPRESENTATIVE

114.

TANG, YONG Chinese

MANDARIN CUSTOMER SERVICE REPRESENTATIVE

115.

TIAN, JIAO Chinese

MANDARIN CUSTOMER SERVICE REPRESENTATIVE

116.

WANG, SHUAI Chinese

MANDARIN CUSTOMER SERVICE REPRESENTATIVE

117.

WEI, QIANG Chinese

MANDARIN CUSTOMER SERVICE REPRESENTATIVE

FUXINGYING CAIYUN HENTONG, CORP. 7th, 8th, 9th, 10th Floor Eton Ewestpod Chino Roces Avenue Cor. Yakal & Malugay Streets San Antonio Makati City

118.

WEI, YANZHEN Chinese

MANDARIN CUSTOMER SERVICE REPRESENTATIVE

156.

119.

WU, XIUGAO Chinese

MANDARIN CUSTOMER SERVICE REPRESENTATIVE

CHEN, LIUPING Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

157.

CHENG, ZHIPEI Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

158.

SI, HUI Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

FLUOR DANIEL, INC. - PHILIPPINES 2nd, 7th-17th/f Polaris Corporate Center Lt 6&7 Blk 1, Spectrum Midway Fcc, Alabang Muntinlupa City

INTERACTIVE MARKETING SPECIALIST

120.

ZHANG, YI Canadian

PRINCIPAL DESIGN SPECIALIST

IT CONSULTANT

121.

SZARO, DARIUSZ Canadian

PRINCIPAL TECHNICAL SPECIALIST

159.

YI, JIANDONG Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

122.

BHATWADEKAR, PRADEEP S Chinese

SENIOR DESIGN SPECIALIST

160.

CHEN, XIAOPING Chinese

CUSTOMER SERVICE REPRESENTATIVE-MANDARIN SPEAKING

161.

WANG, RUIZHOU Chinese

CUSTO MER SERVICE REPRESENTATIVE-MANDARIN SPEAKING

YAN, GUICHUAN Chinese

CUSTOMER SERVICE REPRESENTATIVE-MANDARIN SPEAKING

33.

HLU KYAN TAE Myanmari

CHINESE CUSTOMER SERVICE

78.

34.

HUANG, SHUYING Chinese

CHINESE CUSTOMER SERVICE

35.

LE VAN HUNG Vietnamese

CAPSLOCK INC. 7th & 8th Flr. Y Tower Bldg. Coral Way Drive Cor. Macapagal Brgy. 076 Pasay City

CHINESE CUSTOMER SERVICE

36.

LEW YEAN YEE Malaysian

CHINESE CUSTOMER SERVICE

37.

LI, SONG Chinese

CHINESE CUSTOMER SERVICE

38.

LIU, CHUANFANG Chinese

CHINESE CUSTOMER SERVICE

79.

DENG, YUTING Chinese

CHINESE IT SUPPORT SPECIALIST

80.

FENG, JINGJING Chinese

CHINESE IT SUPPORT SPECIALIST

81.

FU, SANGPING Chinese

CHINESE IT SUPPORT SPECIALIST

82.

LI, SHENGNAN Chinese

CHINESE IT SUPPORT SPECIALIST

FLY ASIAN INTERNATIONAL CORPORATION Eighty One Newport Blvd. Newport City Va, Brgy. 183 Pasay City 123.

CHEN, JEN-HAO Taiwanese

MARKETING CONSULTANT (MANDARIN SPEAKING CLIENTS)

162.

124.

HUANG, WENYAN Chinese

MARKETING CONSULTANT (MANDARIN SPEAKING CLIENTS)

GENX SPORTS & MEDIA PRODUCTION CORP. 11/f Aseana I Bldg. Bradco Ave. Aseana City Tambo Parañaque City

BusinessMirror

www.businessmirror.com.ph ESTABLISHMENT / ADDRESS NO.

163.

FOREIGN NATIONAL / NATIONALITY SINGH, VARINDER PAL Indian

ESTABLISHMENT / ADDRESS POSITION CUSTOMER SERVICE REPRESENTATIVE - HINDI SPEAKING

GLOBALLGA BUSINESS PROCESS OUTSOURCING Ground Level, Level 2-5 Floor Silver City 4, Ortigas East Ugong Pasig City

NO.

FOREIGN NATIONAL / NATIONALITY

ESTABLISHMENT / ADDRESS POSITION

211.

LU, YUAN Chinese

MARKETING STAFF MANDARIN SPEAKING

212.

LUO, YUN Chinese

MARKETING STAFF MANDARIN SPEAKING

213.

SHUAI, XIANG Chinese

MARKETING STAFF MANDARIN SPEAKING

214.

WEN, BO Chinese

MARKETING STAFF MANDARIN SPEAKING

215.

WU, WEI Chinese

216.

257.

CHEN, JIAFU Chinese

CHINESE CUSTOMER SERVICE

305.

NGUYEN XUAN KHANH Vietnamese

CHINESE CUSTOMER SERVICE

258.

CHEN, MINGTANG Chinese

CHINESE CUSTOMER SERVICE

306.

NGUYEN XUAN NHA Vietnamese

CHINESE CUSTOMER SERVICE

MARKETING STAFF MANDARIN SPEAKING

259.

CHEN, MAOLIN Chinese

CHINESE CUSTOMER SERVICE

307.

QIN, QINGLI Chinese

CHINESE CUSTOMER SERVICE

XU, PAOCHENG Chinese

MARKETING STAFF MANDARIN SPEAKING

260.

CHINESE CUSTOMER SERVICE

308.

CHINESE CUSTOMER SERVICE

MARKETING STAFF MANDARIN SPEAKING

SONG, ZHANFEI Chinese

217.

YANG, RONGJIAN Chinese

CHEN, QIUHONG Chinese

218.

YANG, TIANJUN Chinese

MARKETING STAFF MANDARIN SPEAKING

261.

CHEN, QIULIN Chinese

CHINESE CUSTOMER SERVICE

309.

WANG, ZHIJUN Chinese

CHINESE CUSTOMER SERVICE

219.

YU, XIA Chinese

MARKETING STAFF MANDARIN SPEAKING

262.

CHEN, YIYU Chinese

CHINESE CUSTOMER SERVICE

310.

WANG, WENZHE Chinese

CHINESE CUSTOMER SERVICE

220.

YU, YUNQIAN Chinese

MARKETING STAFF MANDARIN SPEAKING

263.

CHINESE CUSTOMER SERVICE

311.

221.

MARKETING STAFF MANDARIN SPEAKING

WANG, HAIDONG Chinese

CHINESE CUSTOMER SERVICE

ZHANG, YONGCHENG Chinese

DING, ZHILIANG Chinese

MARKETING STAFF MANDARIN SPEAKING

264.

DONG, ZHENLEI Chinese

CHINESE CUSTOMER SERVICE

312.

WANG, BANGHONG Chinese

CHINESE CUSTOMER SERVICE

222.

ZHAO, GUOLI Chinese

223.

ZHU, LIHE Chinese

MARKETING STAFF MANDARIN SPEAKING

265.

DU, HUI Chinese

CHINESE CUSTOMER SERVICE

313.

WANG, ZHU Chinese

CHINESE CUSTOMER SERVICE

266.

GE, YANLING Chinese

CHINESE CUSTOMER SERVICE

314.

WEN, QI Chinese

CHINESE CUSTOMER SERVICE

166.

HU, FANGYI Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

167.

HUO, YUNPENG Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

168.

LEI, WEIZHAO Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

LIANG, JIANWEI Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

WU, CHANGSHENG Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

WU, JINMAI Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

CHANG, ZHANSHI Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

CHEN, KE Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

174.

DENG, LIN Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

175.

DENG, ANJIANG Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

DING, KUI Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

LI, HAO Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

LI, MINGJU Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

179.

LI, DONGHUA Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

180.

LUO, XIANGYU Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

181.

RAO, RONGJIE Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

WANG, SHAOYING Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

WEI, HENG Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

WEI, YUNKUN Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

WEI, XIAOHU Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

WONG YONG FATT Malaysian

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

XU, WEIFEI Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

XU, XIAOYU Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

189.

YAN, QINYUAN Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

190.

YANG, JI Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

191.

YANG, HONGFEI Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

192.

ZHANG, QIANG Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

193.

ZHAO, YUNCHANG Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

194.

ZHENG, HAO Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

195.

CHEN, GUANCONG Chinese

MARKETING STAFF MANDARIN SPEAKING

196.

CHEN, JINGBO Chinese

MARKETING STAFF MANDARIN SPEAKING

197.

CHEN, QINGGAN Chinese

MARKETING STAFF MANDARIN SPEAKING

245.

BUDI HARTAPO SALIM Indonesian

INDONESIAN CUSTOMER SERVICE REPRESENTATIVE

198.

FENG, GUANG Chinese

MARKETING STAFF MANDARIN SPEAKING

246.

DANDI Indonesian

199.

FU, TUSHENG Chinese

MARKETING STAFF MANDARIN SPEAKING

247.

200.

GU, YI Chinese

MARKETING STAFF MANDARIN SPEAKING

177.

178.

182.

183.

184.

185.

186.

187.

188.

POSITION

CHINESE CUSTOMER SERVICE

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

176.

FOREIGN NATIONAL / NATIONALITY NGUYEN THE TRA MY Vietnamese

DU, BO Chinese

173.

NO.

304.

165.

172.

POSITION

CHINESE CUSTOMER SERVICE

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

171.

FOREIGN NATIONAL / NATIONALITY CAO, XIN Chinese

CHEN, XIAOLING Chinese

170.

NO.

ESTABLISHMENT / ADDRESS

256.

164.

169.

Tuesday, November 24, 2020 A7

HELLOCONNECT, INC. 7/f Inoza Tower 40th St., Bonifacio Global City Fort Bonifacio Taguig City 224.

RASMUSSEN, MIKE PIERRE COURIOL Danish

CUSTOMER CARE SPECIALIST - DANISH

267.

GE, JIANTAO Chinese

CHINESE CUSTOMER SERVICE

315.

YAN, JIAJIE Chinese

CHINESE CUSTOMER SERVICE

225.

WEBER, JAKOB MIKLOS ISHOEY Danish

CUSTOMER CARE SPECIALISTDANISH

268.

GU, JIANGUI Chinese

CHINESE CUSTOMER SERVICE

316.

YANG, DI Chinese

CHINESE CUSTOMER SERVICE

269.

GUO, HE Chinese

CHINESE CUSTOMER SERVICE

317.

YANG, XI Chinese

CHINESE CUSTOMER SERVICE

INFOVINE INC. 9/f Y Tower, Moa Complex Coral Way Drive Cor. Macapagal Brgy. 076 Pasay 226.

HOU, TAO Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

270.

GUO, LINLIN Chinese

CHINESE CUSTOMER SERVICE

318.

YANG, LINGZIHAN Chinese

CHINESE CUSTOMER SERVICE

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

271.

HARTONO Indonesian

CHINESE CUSTOMER SERVICE

319.

YIN, WENJIAN Chinese

CHINESE CUSTOMER SERVICE

227.

HSIAO, SHENG-HUNG Taiwanese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

272.

HOANG VAN HIEU Vietnamese

CHINESE CUSTOMER SERVICE

320.

YIN, MIAOMIAO Chinese

CHINESE CUSTOMER SERVICE

228.

JIANG, CHENGLONG Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

273.

HOANG VAN LONG Vietnamese

CHINESE CUSTOMER SERVICE

321.

YUAN, LIFANG Chinese

CHINESE CUSTOMER SERVICE

229.

LI, LEI Chinese

274.

HU, ZHAOYU Chinese

CHINESE CUSTOMER SERVICE

322.

YUAN, CHANGLIN Chinese

CHINESE CUSTOMER SERVICE

LIU, CHANGYU Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

275.

HU, JING Chinese

CHINESE CUSTOMER SERVICE

323.

ZHAN, XIAOLING Chinese

CHINESE CUSTOMER SERVICE

LIU, LYUZHONG Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

276.

CHINESE CUSTOMER SERVICE

324.

ZHANG, WEI Chinese

CHINESE CUSTOMER SERVICE

LU, FUSEN Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

HU, KE Chinese

277.

CHINESE CUSTOMER SERVICE

325.

ZHANG, ZHENZHEN Chinese

CHINESE CUSTOMER SERVICE

233.

ONG KOK ZHI Malaysian

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

HU, TAO Chinese

278.

HUANG, XIAOYU Chinese

CHINESE CUSTOMER SERVICE

326.

ZHANG, KUNRONG Chinese

CHINESE CUSTOMER SERVICE

234.

WANG, YUNFEI Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

279.

HUANG, LONG Chinese

CHINESE CUSTOMER SERVICE

327.

ZHAO, MINGYANG Chinese

CHINESE CUSTOMER SERVICE

235.

WEI, MING Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

280.

HUANG, XIAOFENG Chinese

CHINESE CUSTOMER SERVICE

328.

ZHU, YUANYUAN Chinese

CHINESE CUSTOMER SERVICE

236.

YI, XIANWEI Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

281.

HUANG, YINGCHUN Chinese

CHINESE CUSTOMER SERVICE

329.

CHEN, YANHONG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

237.

YU, BO Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

282.

JIN, JINGHUI Chinese

CHINESE CUSTOMER SERVICE

330.

GUO, KAI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

238.

ZHANG, XIN Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

283.

JULY MOE Myanmari

CHINESE CUSTOMER SERVICE

331.

LI, PEI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

239.

ZHAO, JINGJING Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

284.

LE HAI DANG Vietnamese

CHINESE CUSTOMER SERVICE

332.

LIU, FENYU Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

285.

LI, CHUAN Chinese

CHINESE CUSTOMER SERVICE

333.

SHI, ZHIXIN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

286.

LI, PENGFEI Chinese

CHINESE CUSTOMER SERVICE

334.

WANG, ZHIWEI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

287.

LI, DANDAN Chinese

CHINESE CUSTOMER SERVICE

335.

YE, HONGQING Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

288.

LI, YANGLI Chinese

CHINESE CUSTOMER SERVICE

336.

YU, BINGCHEN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

289.

LI, YANAN Chinese

CHINESE CUSTOMER SERVICE

337.

ZHANG, JIANIAN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

290.

LI, NAN Chinese

CHINESE CUSTOMER SERVICE

338.

CAI, HONGPEI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

291.

LI, DAPENG Chinese

CHINESE CUSTOMER SERVICE

339.

CHANG, CHENGZHU Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

292.

LIU, QINGHUA Chinese

CHINESE CUSTOMER SERVICE

340.

CHEN, DAQUAN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

INDONESIAN CUSTOMER SERVICE REPRESENTATIVE

293.

LIU, SHOUWEI Chinese

CHINESE CUSTOMER SERVICE

341.

CHEN, ZHUANG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

JOHAN HALIM Indonesian

INDONESIAN CUSTOMER SERVICE REPRESENTATIVE

294.

LIU, JIA Chinese

CHINESE CUSTOMER SERVICE

342.

CHEN, CHANGMING Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

248.

JULI NOVERA Indonesian

INDONESIAN CUSTOMER SERVICE REPRESENTATIVE

295.

LIU, LIBO Chinese

CHINESE CUSTOMER SERVICE

343.

INDONESIAN CUSTOMER SERVICE REPRESENTATIVE

CHEN, CHUNLI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

296.

LIU, XIHONG Chinese

CHINESE CUSTOMER SERVICE

344.

CHENG, XIAOPENG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

297.

LIU, GUODONG Chinese

CHINESE CUSTOMER SERVICE

345.

CHU, KELAN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

298.

LIU, HUIYAN Chinese

CHINESE CUSTOMER SERVICE

346.

DING, LING Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

299.

LIU, SHAN Chinese

CHINESE CUSTOMER SERVICE

347.

DU, LIHUI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

300.

LU, YUTING Chinese

CHINESE CUSTOMER SERVICE

348.

FAN, LIHONG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

301.

LUO, YINCONG Chinese

CHINESE CUSTOMER SERVICE

349.

FANG, JIAHONG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

302.

MA, XIN Chinese

CHINESE CUSTOMER SERVICE

350.

FU, XINGQIAO Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

303.

MAO, XUGANG Chinese

CHINESE CUSTOMER SERVICE

351.

HAO, JINGLIN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

230.

231.

232.

INVECH TREASURE PROCESSING CORPORATION Ground, 2nd, 3rd, 4th, 5th Floor Six West Campus Mckinley West Fort Bonifacio Taguig City 240.

DENG, YUTING Chinese

I.T TECHNICAL MANDARIN

241.

HE, XIAOFENG Chinese

I.T TECHNICAL MANDARIN

242.

YANG, GUAN Chinese

I.T TECHNICAL MANDARIN

243.

ZOU, XIAOQI Chinese

I.T TECHNICAL MANDARIN

JT INTERNATIONAL (PHILIPPINES) INC. Penthouse, W Office Building 28th St. Cor. 11th Avenue Fort Bonifacio Taguig City 244.

BARNARDO, JOHAN MARTIN South African

ZONE MANAGER

KONGANBUDDIES MARKETING INC. 12/f Pbcom Tower 6795 Ayala Ave. Cor. V.a. Rufino St. Bel-air Makati City

201.

HE, BI Chinese

MARKETING STAFF MANDARIN SPEAKING

249.

JUNICO WILLIM Indonesian

202.

HU, WENCHENG Chinese

MARKETING STAFF MANDARIN SPEAKING

250.

LIAN JENSEN Indonesian

INDONESIAN CUSTOMER SERVICE REPRESENTATIVE

203.

HU, YONGXIN Chinese

MARKETING STAFF MANDARIN SPEAKING

251.

STEPHANNY TIONANDA Indonesian

INDONESIAN CUSTOMER SERVICE REPRESENTATIVE

204.

HUANG, XIONGDONG Chinese

MARKETING STAFF MANDARIN SPEAKING

LIFTHIGH DEVELOPMENT CORPORATION S-301 3/f Dhi Bldg. 2 Lapu-lapu Ave. Magallanes Makati City

205.

JIANG, XIAOFEN Chinese

MARKETING STAFF MANDARIN SPEAKING

252.

LIN, CHUNG-YI Taiwanese

FINANCIAL MANAGER

206.

LI, LILONG Chinese

MARKETING STAFF MANDARIN SPEAKING

253.

LIN, CHIA-CHENG Taiwanese

MARKET DEVELOPMENT MANAGER

207.

LI, JIANGSHENG Chinese

MARKETING STAFF MANDARIN SPEAKING

208.

LIN, ZHIYONG Chinese

MARKETING STAFF MANDARIN SPEAKING

209.

LIN, JIARONG Chinese

MARKETING STAFF MANDARIN SPEAKING

210.

LIN, JINGFENG Chinese

MARKETING STAFF MANDARIN SPEAKING

LOFTY ACCESSION PHILIPPINE INTERNATIONAL SERVICE INC. Unit C 6/f Lepanto Building 8747 Paseo De Roxas Bel-air Makati City 254.

ISHIKAWA, TOMOKI Japanese

DIRECTOR

MOA CLOUDZONE CORP. 4th-11th Flr. Nexgen Tower C4 Rd. Edsa Ext. Brgy. 076 Pasay City 255.

AN, CHAO Chinese

CHINESE CUSTOMER SERVICE

BusinessMirror

A8 Tuesday, November 24, 2020 ESTABLISHMENT / ADDRESS NO.

ESTABLISHMENT / ADDRESS

POSITION

NO.

352.

HE, XUEFEN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

404.

ZHU, WENPING Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

455.

MA, QIJI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

509.

NAING LIN OO Myanmari

CUSTOMER SERVICE REPRESENTATIVE

353.

HOU, JIAN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

405.

ZHU, LISHAN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

456.

MA, BISHENG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

510.

WANG, ZIBIN Chinese

CUSTOMER SERVICE REPRESENTATIVE

457.

MA, ZHIWEI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

511.

WANG, SHUAI Chinese

CUSTOMER SERVICE REPRESENTATIVE

458.

NONG, SHAOCONG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

512.

WEI, JIATAO Chinese

CUSTOMER SERVICE REPRESENTATIVE

459.

OH WANG KING Malaysian

CHINESE CUSTOMER SERVICE REPRESENTATIVE

513.

WU, YUKE Chinese

CUSTOMER SERVICE REPRESENTATIVE

CHINESE CUSTOMER SERVICE REPRESENTATIVE

514.

460.

PAN, XUNGUAN Chinese

ZHANG, TIANZHI Chinese

CUSTOMER SERVICE REPRESENTATIVE

515.

ZHANG, LIHUA Chinese

CUSTOMER SERVICE REPRESENTATIVE

516.

ZHANG, JIE Chinese

CUSTOMER SERVICE REPRESENTATIVE

517.

ZHENG, JIANXIN Chinese

CUSTOMER SERVICE REPRESENTATIVE

HOU, CHUNYU Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

406.

355.

HU, LI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

356.

HUANG, FEIYAN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

POSITION

LOO JIAN HAO Malaysian

MALAYSIAN CUSTOMER SERVICE REPRESENTATIVE

407.

SEOW KOK MUM Malaysian

MALAYSIAN CUSTOMER SERVICE REPRESENTATIVE

408.

MAY THA ZIN Myanmari

MYANMARI CUSTOMER SERVICE REPRESENTATIVE

NO.

FOREIGN NATIONAL / NATIONALITY

ESTABLISHMENT / ADDRESS

FOREIGN NATIONAL / NATIONALITY

354.

FOREIGN NATIONAL / NATIONALITY

www.businessmirror.com.ph

POSITION

NO.

FOREIGN NATIONAL / NATIONALITY

POSITION

357.

HUANG, JING Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

409.

MOE THAZIN NWE Myanmari

MYANMARI CUSTOMER SERVICE REPRESENTATIVE

461.

QIN, LING Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

358.

JIANG, HAOYUN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

410.

SAI SAN LIN TUN Myanmari

MYANMARI CUSTOMER SERVICE REPRESENTATIVE

462.

SHEN, XUN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

359.

JIN, XIAOJUN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

411.

THEIN WIN HLAING Myanmari

MYANMARI CUSTOMER SERVICE REPRESENTATIVE

463.

SHI, YUEFENG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

412.

LY THU NGHIEM Vietnamese

VIETNAMESE CUSTOMER SERVICE REPRESENTATIVE

464.

360.

KUANG, ZAOJUN Chinese

SUN, JING Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

NEW ORIENTAL CLUB88 CORPORATION 8/f Ecoplaza 2305 Don Chino Roces Ave. Magallanes Makati City

465.

361.

LI, XIAOMING Chinese

SUN, XIAOCHEN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

466.

362.

LI, TIANTIAN Chinese

413.

VOONG DI MANH Vietnamese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

LI, CHAO Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

519.

HUFFER, KEVIN MICHAEL American

COMMUNICATION ASSISTANT

363.

467.

WANG, XING Chinese

364.

LIU, AIQI Chinese

520.

KRIEGER, COREY ANDREW American

COMMUNICATION ASSISTANT

365.

521.

NUNLEY JR, MICHAEL ANTHONY American

COMMUNICATION ASSISTANT

SIDCORE CONSULTING INC. Level 26-a 26/f Rufino Pacific Tower 6784 Ayala Ave. San Lorenzo Makati City 518.

LEECH, GLEN NOEL South African

HEAD OF OWNER’S ENGINEER

STELLAR PHILIPPINES, INC. 24th Flr. Mdc-100 Bldg. J-garcia C5 Road Cor. Eastwood Ave. Bagumbayan 3 Quezon City

CHEN, YUFENG Chinese

CUSTOMER SERVICE REPRESENTATIVE

414.

HUANG, QIUQIAN Chinese

CUSTOMER SERVICE REPRESENTATIVE

CHINESE CUSTOMER SERVICE REPRESENTATIVE

415.

LI, XIAOGANG Chinese

CUSTOMER SERVICE REPRESENTATIVE

468.

WANG, JUN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

LIU, XIAOJIN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

416.

MA, LEILEI Chinese

CUSTOMER SERVICE REPRESENTATIVE

469.

WEI, WENGEN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

366.

LIU, ZHUANG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

417.

PAN, ZHENGBING Chinese

CUSTOMER SERVICE REPRESENTATIVE

470.

WEN, SHAOCONG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

367.

LU, XIAOFENG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

418.

SHANG, DONGXU Chinese

CUSTOMER SERVICE REPRESENTATIVE

471.

WEN, HAIDONG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

368.

LYU, DONGBO Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

419.

SUN, SHUXUN Chinese

CUSTOMER SERVICE REPRESENTATIVE

472.

WU, HONGXIA Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

369.

MA, JUNCHUAN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

420.

TAN CHEE LOONG Malaysian

CUSTOMER SERVICE REPRESENTATIVE

473.

CHINESE CUSTOMER SERVICE REPRESENTATIVE

421.

WENG, HUNG-YU Taiwanese

CUSTOMER SERVICE REPRESENTATIVE

CHINESE CUSTOMER SERVICE REPRESENTATIVE

370.

MA, LIANG Chinese

XIE, XIAOYUN Chinese

TRIVES TECHNOLOGY CORPORATION Tower 4, Bayfort West Naia Garden Residence, Naia Road Tambo Parañaque City

474.

CHINESE CUSTOMER SERVICE REPRESENTATIVE

CUSTOMER SERVICE REPRESENTATIVE

523.

JIANG, RONGBIN Chinese

422.

XIE, QI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

371.

MING, YAJUN Chinese

XIONG, BING Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

CUSTOMER SERVICE REPRESENTATIVE

XU, YAXIONG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

524.

LONG, CHEN Chinese

423.

XU, XIAODONG Chinese

475.

372.

PAN, GUANGLIANG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

YAN, ZHIWEI Chinese

CUSTOMER SERVICE REPRESENTATIVE

CHINESE CUSTOMER SERVICE REPRESENTATIVE

CHEN, DAJIANG Chinese

424.

XU, LEISONG Chinese

525.

373.

PEI, ZHILONG Chinese

476.

CHINESE CUSTOMER SERVICE REPRESENTATIVE

374.

QIN, JING Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

425.

ZHANG, JIE Chinese

CUSTOMER SERVICE REPRESENTATIVE

477.

XU, JIAN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

UBIQUITY GLOBAL SERVICES PHILIPPINES INC. 10th Floor Bench Tower 3rd Ave. Cor. Rizal Drive Fort Bonifacio Taguig City

375.

QIU, JIANJIN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

426.

CHEAH BOON CHOON Malaysian

MALAYSIAN CUSTOMER SERVICE

478.

YANG, HONGMIN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

526.

376.

QU, SHUFA Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

479.

YANG, KUNJIAN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

377.

SHEN, DENGHONG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

480.

YAO, ZHENZHEN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

527.

378.

SONG, JIAMIN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

379.

TAO, GAISHENG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

380.

TIAN, FULI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

381. 382. 383. 384. 385.

WANG, XIAOQING Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

WANG, FENGHUA Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

WANG, HONGXIA Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

389. 390. 391. 392. 393. 394. 395.

429.

CHANG, CHIEH Taiwanese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

482.

YUAN, ZHEN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

528.

DONG, XUEYING Chinese

CHINESE SPEAKING COGNOS DEVELOPER

430.

CHEN, JI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

483.

YUAN, LINGJUAN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

529.

MING, WEI Chinese

CHINESE SPEAKING COGNOS DEVELOPER

431.

CHEN, GUO Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

484.

YUAN, ZHEQIANG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

530.

NI, YULIN Chinese

CHINESE SPEAKING COGNOS DEVELOPER

432.

CHEN, SHUANG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

485.

ZHANG, BOXUAN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

531.

WANG, BIAO Chinese

CHINESE SPEAKING COGNOS DEVELOPER

433.

CHEN, YU-WEN Taiwanese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

486.

ZHANG, HAILONG Chinese

532.

ZHANG, LIN Chinese

CHINESE SPEAKING COGNOS DEVELOPER

434.

CHEN, HONG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

487.

CHINESE CUSTOMER SERVICE REPRESENTATIVE

533.

GAO, PUCHENG Chinese

CHINESE SPEAKING HARDWARE TECHNICIAN

CHOU, LI a.k.a. CHOU, YI-SHIUAN Taiwanese

ZHANG, JUN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

534.

488.

ZHANG, YANGYANG Chinese

LUO, ZHENTIAN Chinese

CHINESE SPEAKING HARDWARE TECHNICIAN

535.

LYU, HAIYU Chinese

CHINESE SPEAKING HARDWARE TECHNICIAN

CHINESE CUSTOMER SERVICE REPRESENTATIVE

437.

FAN, SIRU Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

490.

ZHANG, BAO Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

438.

FENG, KAIPENG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

491.

ZHU, HAIRUI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

ZHU, WEI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

XIAO, TIANFU Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

XIE, ZHANGYANG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

XIONG, JUAN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

YA, XIN Chinese YANG, YUSHENG Chinese ZENG, HAILIN Chinese ZHANG, YOUSHENG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE CHINESE CUSTOMER SERVICE REPRESENTATIVE CHINESE CUSTOMER SERVICE REPRESENTATIVE CHINESE CUSTOMER SERVICE REPRESENTATIVE

396. 397.

ZHANG, LI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

ZHAO, LUSHI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

400.

UNIVERSALPEARL INC. Unit 25d 2/f Zeta Bldg. 191 Salcedo St. San Lorenzo Makati City

ZHANG, SHENG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

399.

CHINESE CUSTOMER SERVICE REPRESENTATIVE

489.

ZHANG, GENMU Chinese

398.

YU, LIANGLIANG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

388.

ZHENG, JINSONG Chinese ZHOU, SHUGAO Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE CHINESE CUSTOMER SERVICE REPRESENTATIVE

MARKETING MANAGER

481.

CUI, WEILING Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

LIAO, YINGXIONG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

436.

XIA, TIANSHUAI Chinese

UNITOP GENERAL MERCHANDISE INC. 12th Floor, Ri Rance Bldg. Aseana City Tambo Parañaque City

CAO, YUXIANG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

BILINGUAL CUSTOMER SERVICE REPRESENTATIVE (ENGLISH - VIETNAMESE)

NGUYEN TAN LOI Vietnamese

428.

WANG, JIASHUN Chinese

WANG, KAI Chinese

LEGAL DELIVERY SUPPORT LEADER

427.

435.

387.

WEBSTER, MATTHEW IAN Australian

CHINESE CUSTOMER SERVICE REPRESENTATIVE

522.

ALVIN SIM TZE XING Malaysian

WANG, SHUMIN Chinese

WANG, ZHIHUI Chinese

386.

NOCMAKATI, INC. 8,9,10,11,12,14,15,16,17,18 & 19 Floors Century Diamond Center Kalayaan Ave. Cor. Salamanca St. Poblacion Makati City

THINK SUPPORT SERVICES, INC. Rm. 602 6/f Vicente Madrigal Bldg. 6793 Ayala Ave. Bel-air Makati City

439.

GU, XUEFENG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

492.

440.

HAN, SHIQI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

PRIME GREAT COMPUTER TECHNOLOGIES INC. 3/f To 8/f, Nissan Sucat Zentrum Building 8390 Dr. A Santos Avenue Bf Homes Parañaque City

441.

HSU, CHIH-HSIANG Taiwanese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

442.

HUANG, QIANG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

443.

JIANG, HONGYUAN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

444.

JIANG, YINGQIANG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

493.

LI, YANHUA Chinese

MANDARIN CUSTOMER SERVICE REPRESENTATIVE

494.

CHEN, NENGSHENG Chinese

MANDARIN CUSTOMER SERVICE

495.

JIA, KUN Chinese

MANDARIN CUSTOMER SERVICE

496.

LIU, XIAOBO Chinese

MANDARIN CUSTOMER SERVICE

497.

WANG, LIANQING Chinese

MANDARIN CUSTOMER SERVICE

498.

XIAO, PAN Chinese

MANDARIN CUSTOMER SERVICE

499.

XU, JIANBO Chinese

MANDARIN CUSTOMER SERVICE

500.

ZHENG, WANG Chinese

MANDARIN CUSTOMER SERVICE

445.

JIANG, KAI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

446.

JIN, RUI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

447.

LI, WEIXIONG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

448.

LI, YING Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

501.

449.

LIAO, LEI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

SA RIVENDELL GLOBAL SUPPORT, INC. 2741 P. Zamora St. Brgy. 097 Pasay City

450.

LIN, YU-HSUAN Taiwanese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

502.

CHEN, JIANGHE Chinese

CUSTOMER SERVICE REPRESENTATIVE

LOH JIAN HAO Malaysian

CHINESE CUSTOMER SERVICE REPRESENTATIVE

503.

451.

CHEN, HUIMIN Chinese

CUSTOMER SERVICE REPRESENTATIVE

504.

CHEN, CUIHONG Chinese

CUSTOMER SERVICE REPRESENTATIVE

452.

LOO ZE HUI Malaysian

CHINESE CUSTOMER SERVICE REPRESENTATIVE

505.

FU, XINGZHAO Chinese

CUSTOMER SERVICE REPRESENTATIVE

LU, YAN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

506.

HE, YIFU Chinese

CUSTOMER SERVICE REPRESENTATIVE

507.

HE, YIEN Chinese

CUSTOMER SERVICE REPRESENTATIVE

508.

HU, HAIOU Chinese

CUSTOMER SERVICE REPRESENTATIVE

401.

ZHOU, JINYIN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

402.

ZHU, CHEN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

453.

403.

ZHU, DEYUAN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

454.

LUO, MIAO Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

REPRISK PHILIPPINES, INC. Unit 20-02, 20th Floor Accralaw Tower 2nd Ave. Cor. 30th St. Crescent Park West Bgc Fort Bonifacio Taguig City ESPINOZA LAFUENTE, PABLO CESAR Bolivian

JUNIOR ESG RESEARCH ANALYST

VAN GOGH BUSINESS PROCESS OUTSOURCING INC. 5th To 8th Flr. Sm Southmall Tower 2 Alabang Zapote Rd. Almanza Uno Las Piñas City 536.

TANG, LING Chinese

COMPUTER TECHNICAL SUPPORT SPECIALIST

537.

TANG, YA Chinese

COMPUTER TECHNICAL SUPPORT SPECIALIST

VOLENDAY INC. U1406 14/f Pacific Star Bldg. Sen. Gil Puyat Cor. Makati Ave. Bel-air Makati City 538.

GE, JIARONG Chinese

OUTSIDE PLANT DESIGN TEAM LEAD

539.

CHEN, CHAOHONG Chinese

OUTSIDE PLANT ROW TEAM LEAD

*Date Generated: Nov 23, 2020 In the ad material of Notice of Filing of Application for Alien Employment Permits published on November 20, 2020, the nationality of Tran Duc Long under NEW ORIENTAL CLUB88 CORPORATION, should have been read as VIETNAMESE and not as published. In the ad material of Notice of Filing of Application for Alien Employment Permits published on November 20, 2020, the name of Tsai, Ho under GLOBAL B2B CONSULTANCY, INC., should have been read as TSAI, HO a.k.a. CHAI, HO and not as published. In the ad material of Notice of Filing of Application for Alien Employment Permits published on November 20, 2020, the nationality of Chen, YanLin under GLOBAL B2B CONSULTANCY, INC., should have been read as TAIWANESE and not as published. In the ad material of Notice of Filing of Application for Alien Employment Permits published on November 19, 2020, the position of Su, Yuhe under PRIME GREAT COMPUTER TECHNOLOGIES INC., should have been read as MANDARIN CUSTOMER SERVICE and not as published. In the ad material of Notice of Filing of Application for Alien Employment Permits published on November 12, 2020, the position of Chong Voon Siong under MOA CLOUDZONE CORP., should have been read as VIETNAMESE CUSTOMER SERVICE REPRESENTATIVE and not as published. Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at DOLE-NCR Regional Office located at DOLE-NCR Building, 967 Maligaya St., Malate Manila, within 30 days after this publication. Please inform DOLE-NCR if you have any information on criminal offense committed by the foreign nationals.

ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

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US plans first Covid vaccinations in weeks, Warp Speed chief says

accinations against Covid-19 in the US will “hopefully” start in less than three weeks, according to the head of the federal government’s program to accelerate a vaccine. “On the 11th or on the 12th of December, hopefully the first people will be immunized across the United States, across all states, in all the areas where the state departments of health will have told us where to deliver the vaccines,” Moncef Slaoui, head of the government’s Operation Warp Speed, said on CNN’s “State of the Union” on Sunday. Current plans envisage another milestone around May: a 70 percent immunization rate across the US, which “would allow for true herd immunity to take place,” said Slaoui, a former head of GlaxoSmithKline’s vaccines operation. “Most people need to be immunized before we can go back to a normal life.” While an effective vaccine is expected to be widely distributed in the US in 2021, hurdles remain. An advisory panel of the Food and Drug Administration is meeting on December 10 to discuss emergency use authorization for a vaccine candidate. Pfizer Inc. and BioNTech SE have requested that authorization for their product. “While we can’t predict how long FDA’s review will take, the agency will review the request as expeditiously as possible, while still doing so in a thorough and science-based manner, so that we can help make available a vaccine that the American people deserve as soon as possible,” FDA Commissioner Stephen Hahn tweeted on Sunday. With daily infections hovering around record levels, the US reported 1,446 virus-linked deaths on Saturday to cap a week of rapidly rising death rates. Only about half of adults say they would get a Covid-19 vaccine, according to a Pew Research Center survey in September. Anthony Fauci, the US government’s top infectious disease specialist, said achieving herd immunity is possible, though he didn’t think that was likely by May. “If you get an

overwhelming majority of people vaccinated, with a highly efficacious vaccine, we can reasonably quickly get to the herd immunity that would be a blanket of protection for the country,” Fauci said on CBS’s “Face the Nation.”

No sharing

Slaoui said on CNN “it would be better” if President Donald Trump’s administration formally allowed the presidential transition to begin. Even so, the operation “has been isolated from the administration, from the political environment, and the political context,” Slaoui said on NBC’s “Meet the Press.” “All decisions are made, the train is running,” he said. “Whether one administration or the other doesn’t, frankly, make a difference.” Information on the program isn’t been shared with Joe Biden’s incoming administration, he said, consistent with Trump’s failure to acknowledge his election loss. “I have been informed that I should not be saying anything that’s confidential to anybody, including, you know, anybody that’s not part of the administration, and therefore, I’ll act according to what the legal requirements are.” Hospitals are filling up across the country and even in the best-case scenario, state governments will struggle to get the rampaging virus under control amid a chaotic transfer of presidential power and a lack of clear policy guidance. Making matters more challenging is the lack of confidence many Americans have in the safety of a vaccine. Covid-19 deaths in the US are running at the highest level since last spring, when the outbreak in New York and the northeast pushed deaths to a daily peak of more than 2,600 in late April. Larry Merlo, chief executive officer of CVS Health Corp., said on CBS that once a Covid jab is approved, “48 hours after we receive that vaccine” the pharmacy company will be in long-term care facilities “providing that vaccine into the arms of our elderly.”

Bloomberg News

Tuesday, November 24, 2020

G-20 summit ends with support for coronavirus vaccines for all

UBAI, United Arab Emirates— Leaders of the world’s most powerful nations wrapped up the Group of 20 summit on Sunday, vowing to spare no effort to protect lives and ensure affordable access to Covid-19 vaccines for all people. The two-day summit of heads of state was held virtually due to the coronavirus pandemic, which has killed at least 1.38 million people globally, with the world’s highest death tolls recorded in seven of the G-20 countries. The virus has wiped out hundreds of millions of jobs globally and plunged millions into extreme poverty. The virus “revealed vulnerabilities in our preparedness and response and underscored our common challenges,” the G-20 said in a final statement that focused heavily on battling the coronavirus, enhancing environmental protections and supporting the global economy. The group vowed “to spare no effort to protect lives.” The G-20, which includes the US, India, China, the UK, France, Germany, Japan and others, also stressed the importance of global access to Covid-19 vaccines, drugs and tests. “We will spare no effort to ensure their affordable and equitable access for all people, consistent with members’ commitments to incentivize innovation,”

the statement said. The G-20 expressed support for efforts like COVAX, an international initiative to distribute Covid-19 vaccines to countries worldwide. The US, however, has declined to join under President Donald Trump. German Chancellor A ngela Merkel told reporters Sunday in Berlin after the virtual summit that Germany had given financial support to the COVAX initiative, but that more money was needed. The G-20 statement did not directly address an urgent appeal by UN Secretary-General Antonio Guterres, who said $28 billion in additional investment is needed for mass manufacturing, procurement and delivery of new Covid-19 vaccines around the world, including $4 billion immediately. There is also concern that countries such as Britain, the US, France and Germany have directly negotiated deals with pharmaceutical companies, meaning that the vast majority of the world’s vaccine supply next year is already reserved.

“Fortunately, there’s now hope for vaccines,” Merkel said, adding that “it is important that not only Europe secures vaccines, as the European Union is doing now, but ... that it is important for the entire world” to have access to vaccines. She said it is important that COVAX starts negotiating with the producers of potential vaccines based on the money it already has, but that she was somewhat worried those negotiations had not happened yet. Saudi Arabia’s King Salman rounded out the summit, saying the G-20’s final statement “succeeded in sending out a message of hope and reassurance to our citizens and all people around the world.” “This is what the world has been expecting from us. This achievement today is a culmination of our joint efforts throughout this challenge-fraught year,” the Saudi monarch said. Saudi Arabia presided over the G-20 this year and was host of the virtual summit, which was originally intended to be held in-person in Riyadh before the pandemic. During the Saudi king’s speech, small video squares showed the leaders of Germany, France, the UK, Canada, South Korea, China, India and South Africa watching the final remarks. Trump participated in the summit with prerecorded speeches, but was not in attendance for the virtual summit’s conclusion. It appeared all G-20 countries agreed to the full content of the final statement, with the exception of Turkey, which was due to

give a press conference later Sunday explaining further. Delegates from the G-20 had convened virtually throughout the year to discuss the coronavirus, agreeing to suspend debt payments for the world’s poorest nations until mid-2021 to allow those countries to focus their spending on health care and social support programs. The G-20 called on private lenders to join the effort. Already, 46 countries have requested to benefit from the debt suspension initiative, amounting to $5.7 billion in debt referral. The UN secretary general, however, has called on the G-20 to extend debt repayments through the end of 2021 and expand the scope to middle-income countries in need. G -20 cou nt r ies a re a l lowing low-income countries with unsustainable debts to apply for permanent debt relief on a case-by-case basis. In final remarks at the summit, Italian Premier Giuseppe Conte laid out his country’s objectives for the G-20 next year as it assumes the rotating presidency from Saudi Arabia. “The existential threat, represented by climate change, soil degradation and by the decline of global biodiversity, has brought us to a crossroads, which will determine if we are able to save our planet and construct a sustainable future,” Conte said. Conte said the pandemic will continue to be at the top of the group’s agenda and reiterated his support for universal access to vaccines. AP

Thousands march in Taiwan against pork imports from US

A I PEI , Ta iw a n —T hou sands of people marched in Taipei’s streets on Sunday demanding the reversal of a decision to allow US pork imports into Taiwan, alleging food safety issues. President Tsai Ing-wen’s administration lifted a long-standing ban on US pork and beef imports in August, in a move seen as one of the first steps toward possibly negotiating a bilateral trade agreement with the US. The ban is due to be lifted in January. That decision has met with fierce opposition, both by the opposition Kuomintang party and individual citizens. The new policy allows imports of pork with acceptable residues of ractopamine, a drug added into animal feed that promotes the growth of lean meat that some farmers use in pigs. The drug is banned by the European Union, but is legal in the United States. Demonstrators marched in front of the Presidential Office

People hold a pig model with a slogan “Betraying pig farmers” during a protest in Taipei, Taiwan on November 22. Thousands of people marched in streets on Sunday demanding the reversal of a decision to allow US pork imports into Taiwan, alleging food safety issues. AP/Chiang Ying-ying

Building as part of an annual labor march. “I came here today to oppose the import of ractopamine,” said Kelvin Chen, a 54-year-old computer engineer who was marching. “I feel

these days many who do business are not ethical. If they mix the US pork with Taiwan pork and then sell it to us average consumers, we as individuals have no way to know the source of the pork.”

“I have a child and when we eat things with ractopamine, it’s not good for our bodies,” said Jacky Tsui, a 37-year-old factory worker. “I hope the government can see that we citizens oppose this.” AP

Trump aide tells Vietnam to curb China shipments to avoid duties

S National Security Adviser Robert O’Brien told Vietnamese leaders they must curb illegal re-routing of Chinese exports and purchase more US goods such as liquefied natural gas and military equipment in order to avoid punitive American tariffs. The Commerce Department this month imposed preliminary anti-subsidy duties on Vietnamese car and truck tires, citing the nation’s “undervalued currency” among the reasons. In an interview

with Bloomberg News this weekend during a stop in Hanoi, the aide to President Donald Trump said he told the country’s leaders that cracking down on Chinese trans-shipments and easing the US’s trade deficit with Vietnam “could be the basis for a reversal” of the tariffs. The duties have become a sticking point between the US and Vietnam even as the former adversaries strengthen overall ties to counter Chinese actions in the South China Sea. O’Brien, who

met with officials including Prime Minister Nguyen Xuan Phuc and Foreign Affairs Minister Pham Binh Minh, said they were “very concerned” about Chinese actions to prevent Vietnam from tapping into offshore resources such as fish and natural gas. O’Brien said that Vietnam is interested in more military-to-military information sharing as well as obtaining additional US Coast Guard equipment to better protect maritime areas. He told them the US may be able to provide financ-

ing to help with purchases of the American helicopters to reduce Vietnam’s bilateral trade surplus, which is on pace to break last year’s record $56 billion. Vietnam’s Ministry of Foreign Affairs didn’t immediately respond to a request for comment. Phuc last month reiterated that Vietnam doesn’t use its currency for a competitive trade advantage during a meeting with Adam Boehler, head of the US International Development Finance Corporation. Vietnam’s

government previously has signaled it plans to buy “large volumes” of LNG from the US, while also saying it has intensified efforts to crack down on Chinese exporters trying to route products through the Southeast Asian nation to bypass higher US tariffs. O’Br ien said Vietnam is ty pically cautious with public st atements rel ated to C h ina and wants to maintain good relations with their much larger neighbor countr y. He also said

he believes Vietnam is interested in getting American companies involved in offshore oil and gas projects because they think China would be less likely to interfere in that case. Vietnam’s strategy for standing up to Beijing is to work with other regional countries through the A ssociation of Southeast Asian Nations, or Asean, O’Brien said. But he added that China has some leverage in the organization through its ally Cambodia. Bloomberg News

A10 Tuesday, November 24, 2020 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

When will we ever learn?

limate change is a convenient culprit and excuse for certain tragedies. But we often fail to remember that climate change is caused by human activity and it can be mitigated by responsible action. It is literally and painfully obvious—most of all to the survivors of natural calamities—that skewed public policies can also lead to the creation of disasters and the loss of lives and property. Cagayan Valley residents were surprised when massive floods, which reached over 13 meters high, hit their province during the onslaught of Typhoon Ulysses, leaving thousands of them stranded on rooftops and in need of rescue. The usual questions were once again asked: Who was really responsible for the flooding? What steps could have been taken to avoid the calamity? How could it be prevented in the future? Despite all the questions, the discussions, the blaming even, we cannot even begin to comprehend the loss and the suffering of those who have been victims of the tragedy. At the very least, though, we should listen to the survivors. Vigorous national attention should be given to their grievances and demands. Farmers belonging to the Kilusang Magbubukid ng Pilipinas and DANGGAYAN Cagayan Valley blamed illegal logging and mining for the floods. Cagayan Governor Manuel Mamba admitted that the floods could not have been due to the spilling from the Magat Dam alone, but was also caused by the “denudation of forests” and “siltation of rivers.” Indeed, the problem goes beyond dam protocols. If the forests in Cagayan Valley were not denuded, they could have acted as a natural barrier to floodwaters. Grade school science taught us trees also prevent soil erosion. They would have reduced sediment going into the Cagayan River and increased water absorption into the ground. With few trees acting as frontline defense, the rainwater running down bare mountains swelled the river and raised flood levels. President Duterte promptly ordered a crackdown on illegal mining and logging activities in the province, even as lawmakers are set to investigate the possible noncompliance with laws, rules, or regulations that may have contributed to the floods. Is this a bad case of déjà vu? The country has suffered one tragedy after another as a result of rampant logging and mining, and yet government officials have done little to prevent the next tragedy. Administrations have responded in a reactive manner that did nothing to prevent further disasters. In 1991, massive flooding and landslides brought on by a strong typhoon resulted in the deaths of nearly 8,000 people in Ormoc City, Leyte. The Ormoc tragedy, as it became known, was largely blamed on logging and deforestation. Calls for a total logging ban rang loud in the halls of Congress and Malacañang then. In 2004, hundreds of people died in floods and landslides in Quezon, Aurora and Nueva Ecija after a series of storms. Blame was again cast on loggers who have stripped forests bare and turned lowland villages into death traps. Politicians talked all over again of enforcing a total logging ban. In 2017, after massive floods devastated Northern Mindanao, President Duterte ordered then Environment Secretary Gina Lopez to “stop all logging operations with no exemptions.” Former Presidents Benigno Aquino III and Gloria Macapagal-Arroyo also ordered similar crackdowns on logging following similar floods. What do they say about people who do not learn the lessons of history? They are doomed to repeat its mistakes. And so we did. And we will keep repeating the same mistakes with the same sorry results unless we learn to do better. We know what we have to do, the right thing to do. The really hard part is doing it. The main obstacle, of course, is the general corruption in the bureaucracy. Profitable mining and logging enterprises have tentacles that weave their way in and out of government. Also, for a lot of people in poor communities, mining and logging are the only way to feed their families. So, definitely, policy solutions must provide for the creation of alternative jobs and livelihood to encourage support from the people. There must be incentives for compliance that would be more attractive to logging, mining and other illegal and environmentally destructive activities. Enforceability and economic feasibility issues tell us that being able to pass a law or regulation like a ban is one thing and having it followed is another. There is no alternative, however, but to do what must be done and undo the damage to the environment caused by our inaction and neglect.

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THE Entrepreneur

he announcement last week by two US pharmaceutical companies that their vaccine candidates are more than 90-percent effective against Covid-19 has given us hope the pandemic will be contained in the coming months. The positive report bolsters the nation’s confidence to fully recharge the economy soon. Global markets welcomed the news, as the development is certain to revive consumer confidence amid the lingering threat of the virus. This should not lull us into complacency, however, until we get our hands on the vaccines for the whole population. We still need to observe social distancing through the Christmas season and overcome the gargantuan logistical challenge of procuring and distributing the vaccines once they are available. To achieve herd immunity, we may need to have 60 percent to 80 percent of the population vaccinated, according to public health experts. While this might be possible next year, the recent announcement by Pfizer and Moderna about the success of their clinical trials already lifted consumer sentiments across the world. US biotech firm Moderna said

its vaccine-candidate was found to be 94.5-percent effective in a trial involving more than 30,000 participants. The company plans to have 20 million doses available in the US in December 2020, initially targeting health-care workers and vulnerable populations. Pfizer and partner BioNTech announced their two-dose coronavirus vaccine was 95-percent effective and had no serious side effects among older adults based on clinical trials administered on about 44,000 volunteers. The vaccine’s efficacy was found consistent across age, race and ethnicity. Pfizer said once approved by the US Food and Drug Administration, it could produce 50 million doses this year and 1.3 billion by 2021. We hope the Philippines will be among the first countries to receive

Unintended consequences

T. Anthony C. Cabangon Lourdes M. Fernandez

John Mangun

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Vaccine is a welcome game changer

OUTSIDE THE BOX

here are some laws that you need to learn to remain healthy, wealthy, and wise. My number one rule is, “Trust no one; assume nothing.” There was a book written in 2007 titled Assume Nothing, Trust No One. Sorry. I learned my rule back i n 1981 from a captain I was working for as a ship’s cook. He had previously made his living transporting contraband to various First-World countries. The long version is, “Trust no one to do their job properly and always assume that they have not.” Except for a refrigerator, have you ever bought an electric appliance at SM and not had it tested before paying for it? But that is not a genuine “law.” Rules are something that you can choose to follow or not. Laws, however, do not require your agreement. Almost everyone knows “Murphy’s law”: “Anything that can go wrong will go wrong.” The gentleman that originally wrote “Everything that can go

wrong will go wrong”—British magician and inventor Nevil Maskelyne— never got the credit. Instead, an American aerospace engineer who worked on safety-critical systems, Edward Aloysius Murphy Jr., did. Murphy was angry since what he was writing about was “worst-case scenarios,” not common everyday occurrences like not getting enough screws to assemble your “Made in China” computer table. Trust no one to do their job. Newton’s law of universal gravitation does not require your approval, either. Simply, “What goes up must

the US vaccines based on the early negotiations made by our government with American officials. We should prepare for the handling and distribution of the new class of messenger RNA (mRNA) vaccines, which require colder storage. Aside from the US vaccines, other candidates show promising results. The Russian developers of the Sputnik V vaccine said it was also found to be 92-percent effective in preventing Covid-19. The Gamaleya National Center of Epidemiology and Microbiology in Moscow and the Russian Direct Investment Fund made the conclusion based on an interim analysis covering some 16,000 volunteers. Other companies that reported impressive progress were Sanofi, Johnson & Johnson and Novavax. The Philippine government has assured the public will get allocation from Pfizer and Moderna. “We have firm commitments from the United States that we will have access to Covid vaccines that may be developed in the United States,” Presidential Spokesman Harry Roque was quoted as saying. Secretary Roque made the assurance based on the information relayed by US Secretary of State Mike Pompeo to Foreign Affairs Secretary Teodoro Locsin Jr. China, according to the Mr. Roque, made the same commitment to supply future Covid-19 vaccines to the Philippines. Secretary Carlito Galvez Jr., the chief implementer of

the National Policy Against Covid-19 who was also designated as vaccine czar by President Duterte, said the Philippines was actually looking at 17 countries as possible sources of vaccines. The government plans to acquire 30 million to 50 million doses of vaccines by 2021 with priority on medical and other health-care frontliners, vulnerable sectors, marginalized individuals and uniformed personnel and other servicemen. This early, the Asian Development Bank is offering technical assistance for vaccine distribution. The Manilabased multilateral lender committed to provide $20.3 million in technical assistance to help developing members gain access to the vaccines and establish systems to enable equitable and efficient vaccine distribution. We may also need to form partnership with our neighbors for efficient vaccine distribution. The pandemic is a global problem that requires international cooperation, especially in the areas of manufacturing, shipping and last-mile delivery. Because of the extreme cold temperature required in storage, it may be faster and more efficient to produce vaccines in regional hubs, instead of just one global site. Pfizer, for example, has a facility in the Philippines. Now that Covid-19 vaccines are a reality, instead of just a dream, See “Villar,” A11

come down” never fails. Even if you escape Earth’s gravity, some other large body is pulling you in. The moon would fall on Earth if not in constant revolution around the planet. Perhaps the most important law is “The Law of Unintended Consequences,” defined in social science— a fake-science like economics—as an outcome from a purposeful action that is not intentional. But that definition only works until you are about seven years old, explaining why the Halloween “face paint” on your little brother’s face turned out to be a permanent marker. Otherwise, it is the “Law of Obvious-but-Ignored Consequences” or the “Law of Too-Ignorant-ToFigure-It-Out Consequences.” Seventeenth-century English philosopher and economic theorist John Locke first used the phrase to discuss the “unintended consequences of interest rate regulation” in a letter to a Member of Parliament. Locke was responding to a request for his analysis of the Parliament reducing the base interest rate to “stimulate economic growth.” His very polite and very British answer was that by artificially setting interest rates to manipulate the

economy would be a disaster. “It will mightily increase the advantage of bankers” and “widows and orphans will be sure to have no more profit of their money.” In modern terms, the banks will make out like bandits and fixed income earners and savers will be screwed. T he “Law of Obv ious-butIgnored Consequences” has not changed in 300 years, especially by the central banks and governments. We are all facing another variation of the law: “Hidden Consequences.” Excited that Bitcoin and global stock markets are going higher? Not at all concerned that the Dow Jones global commodity index is at a sixyear high? Think it is great that the global average interest rates are the lowest in 5,000 years? What all this is saying is that “money” is becoming less valuable. People are more confident in the future of all those assets than their bank deposit account. And that is dangerous. E-mail me at mangun@gmail.com. Visit my web site at www.mangunonmarkets.com. Follow me on Twitter @mangunonmarkets. PSE stockmarket information and technical analysis tools provided by the COL Financial Group Inc.

Opinion BusinessMirror

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Could Opec’s house of cards collapse?

George Clooney: More than a face

By Julian Lee | Bloomberg Opinion

ll is not well in the house of Opec. As the cartel’s oil ministers prepare to meet in just over a week to decide on the next step in their record-breaking output deal, officials in the United Arab Emirates, normally a loyal Saudi ally, are privately questioning the benefits of participating, and may even be considering whether to leave the Organization of Petroleum Exporting Countries (Opec). The deliberations, leaked to the press on Wednesday, may be nothing more than an attempt to get the producer group to review the Persian Gulf country’s quota. If so, it seems unlikely to succeed. Worse, it risks throwing a wrench into the discussions over how producers should respond to the conflicting pressures from positive vaccine news and the negative impact of renewed coronavirus lockdown restrictions on travel and economic activity. Questions about the UAE’s future in Opec, even if they are only preliminary internal deliberations, come at an awkward time for the group and its Opec+ allies. Tensions are emerging over what to do about output targets, which are set to be eased from the beginning of next year. The answer seems obvious. Covid-19 vaccines are unlikely to affect oil demand any time soon and stockpiles remain high. Meanwhile, Libya, an Opec member emerging from civil war, has added about 1 million barrels a day to supply in a matter of weeks. As a result, the Opec+ alliance is expected to extend the current output cuts for another three to six months. But there’s a spanner in the works: Not everyone is respecting their commitments. So the UAE, already chafing at the restrictions, says there shouldn’t be any decision until all members have fully implemented their agreed cuts. Figures presented at last week’s meeting of the Joint Ministerial Monitoring Committee, which oversees the Opec+ output deal, show that fewer than half of its signatories have done so. While over-producers like Iraq, Nigeria and the UAE itself have come under intense pressure from Opec’s de facto leader Saudi Arabia to compensate for past failings with deeper “compensation cuts,” one country has remained conspicuously absent from the roster of cheats: Russia. Despite being the Opec+ group’s second-largest over-producer, the country has faced no public criticism whatsoever. Long seen as the Saudis’ most reliable ally in Opec, it’s easy to understand why the UAE chafes at this apparent favoritism towards Russia—regarded for decades as a competitor. Especially considering the very public humiliation inflicted in September on UAE Energy Minister Suhail Al-Mazrouei by his Saudi counterpart. The UAE seems to feel aggrieved that it’s making deeper cuts than everyone else. Officials support that

Villar. . .

Continued from A10

we may consider further relaxing the quarantine restrictions that have shackled the growth of our economy in the past two quarters. We should allow businesses to resume full operations, with the necessary health protocols still in place, of course. Moody’s Analytics in a recent report noted the economic recovery in the Asia-Pacific region would not be fully complete until international travel and tourism flourish again and until an extended rebound of the global economy expands the range of global trade to include more consumer goods such as automobiles, and commodities such as crude oil and petrochemicals. I particularly welcome the recent signing of the Regional Comprehensive Economic Partnership (RCEP) agreement, the world’s largest free trade deal, which is expected to lift

Questions about the UAE’s future in Opec, even if they are only preliminary internal deliberations, come at an awkward time for the group and its Opec+ allies. Tensions are emerging over what to do about output targets, which are set to be eased from the beginning of next year. complaint by comparing the country’s output target with its production in April, the month the deal was hammered out. But that’s a cheap shot. April was when everybody opened the taps in a damaging free-for-all. None of the output targets was based on those levels. Plus, the UAE agreed to its baseline when it signed up to the deal, so it’s a bit rich to start quibbling about it seven months later. Revisiting the UAE’s target would open up a can of worms. Iraq wants special treatment too, because of its costly fight against the so-called Islamic State. Nigeria wants some crude reclassified to remove it from its quota. Considering everyone’s grievances would set in motion a rapid unraveling of the entire Opec+ deal. It’s unlikely, but not impossible, that the UAE would decide to quit Opec. Others have done so — some repeatedly — and the country doesn’t have the moral handcuff of being a founding member of the group. The political and economic stakes would be high though. In one stroke such a move would destroy the goodwill between the UAE and Saudi Arabia, which could prove costly. After a day of public silence following the press reports, Mazrouei on Thursday said the UAE “has always been a committed member” of Opec. The statement sounded very backward-looking and avoided any denial that it was reconsidering its membership. Even if the issue blows over, it serves as a reminder of the fractures within the producer group ahead of a decision that will determine the course of oil prices in the coming months. But if it doesn’t, other countries would certainly follow in ending production restraint. The impact of an extra 1.6 million barrels a day of UAE crude might not be catastrophic for oil prices, but add another 7 million barrels from the rest of the group and March’s price collapse to just below $20 a barrel would look positively benign. our exports and boost our recovery. Under the deal, parties will have access to a huge market and major sources of raw materials for production. RCEP, which includes 10 Southeast Asian economies along with China, Japan, South Korea, New Zealand and Australia, is expected to account for 27.8 percent of the world’s trade valued at $10.5 trillion. Members of the RCEP accounted for 60.6 percent of total Philippine merchandise trade and 11.4 percent of inward foreign direct investments in 2019. The mega trade deal is something we can look forward to in the coming years as we navigate the new environment created by the Covid-19 pandemic. Amid the success of Covid-19 vaccine clinical trials, I am more optimistic than I was six months ago because there is now solid evidence that help is on the way. For comments, e-mail mbv.secretariat@gmail. com or visit www.mannyvillar.com.ph.

Tuesday, November 24, 2020 A11

Manny F. Dooc

TELLTALES

T must be great to be a friend of actor George Clooney. In a recent interview with GQ, Clooney confirmed the generous gifts that his friend Rande Gerber leaked to the press in 2017. At that time, Clooney received a windfall when his movie Gravity, which he co-starred with Sandra Bullock, became a hit in 2013.

Since it was not expected to do well at the tills, instead of receiving a salary for his work, he agreed to percentages of its earnings. He eventually walked away with a bucket of millions. As he was still single at that time, Clooney decided to share it with 14 of his closest friends. He candidly told his interviewer, Zach Baron, why he did that to his friends: “You know, without them I don’t have any of this. And we’re all really close, and I just thought, basically, if I get hit by a bus, they’re all in the will. So why the f**k am I waiting to get hit by a bus?” So he called his friends to his place, and held up to them a map and pointed to all the places he visited around the world and all the things he’d done and gone because of them. Finally, he said to them, how do I repay you? Clooney answered his own question: “Oh, well: How about a million bucks?” And he handed each of his awe-struck chum a cool $1 million. He is a soul friend—not casual and transitory.

One that stays in good times and in bad. He has given other people close to him a better chance in life to live on their dreams. No doubt, Clooney is this year’s GQ Icon of the Year, a well-deserved honor. He was a recipient of the AFI Lifetime Achievement Award. His estimated net worth is half a billion dollars. Clooney is married to lawyer activist, Amal Alamuddin Clooney. She’s a successful, respected and dreaded human rights lawyer and defender. Clooney is a father of twins, Alexander and Ella. What more can you ask? Clooney does not ask; he gives. Clooney’s friend and business partner, Grant Heslov, said of him: “He’s just a generally good and nice guy—that’s really who he is.” He is not just a handsome face but also a sensitive actor with a heart of gold. He uses his fame and fortune to advance the cause of humanity, which is the fight of his life. Clooney’s philanthropy extends to other people outside his immediate circles. He is known for helping others in need.

George Clooney has become a real life hero whose character has transcended the world of fantasy. He is a living, larger-than-life figure whose real life exploits are far nobler than the greatest role he has portrayed in his films. In real life, Danny Ocean has shared his bounty to the needy and the disadvantaged.

And this laudable behavior continues after this most eligible bachelor got hitched to high-powered international lawyer, Amal Alamuddin. Together, the Clooneys set up the Clooney Foundation for Justice, which became their vehicle for charitable causes to promote human and social rights advocacy. The couple is behind causes that advance the rule of law, homelessness, protection of refugees, poverty and disaster relief. They have championed the fight against global hunger particularly in the depressed countries in Africa. He produced and starred in a video entitled: “George Clooney: Hunger Crisis 2017” where he highlighted the starving population of the world. He called on his fellow Americans to support the campaign to fight hunger in Africa. The money raised from the campaign is equally divided among 8 reputable organizations including OXFAM, CARE, Save the Children and World Vision, which takes care of distributing them to the millions of hungry people around the world. Clooney personally issued an appeal by saying that “by giving we

can inspire hope where hope is lost and make the world a better place.” And his benevolent work has been infectious. Clooney’s famous costars in the Ocean’s Eleven movie franchise, which include Brad Pitt, Matt Damon, Julia Roberts, Elliot Gould, Bernie Mac, Angie Dickinson and others, joined him in forming “Not On Our Watch,” a worldwide organization dedicated to human rights. It aims to wield the powerful voices of celebrities to promote advocacy to promote human rights and other worthy international issues. For instance, the group exposes hate crimes and other extremists’ activities that oppress the colored people and other minorities. It seeks to protect the vulnerable sectors of society against discrimination and social injustice. Clooney has not played Superman, Batman or Captain America. He is not an Avatar or one of the Avengers, but Clooney is all of them rolled into one. It feels good to watch a movie. The make-believe world of movies does not only entertain but uplifts our depressed spirit. It’s fun watching our favorite actors and they make us forget about the harsh realities of life, which grip us again the moment we step out of the movie house. But George Clooney has become a real life hero whose character has transcended the world of fantasy. He is a living, larger-than-life figure whose real life exploits are far nobler than the greatest role he has portrayed in his films. In real life, Danny Ocean has shared his bounty to the needy and the disadvantaged.

Beyond liberalizing tax incentives under Bayanihan 2 Atty. Lino Ernie M. Guevara

Tax law for business

he government’s invigorated legislative response against Covid-19, Republic Act 11494 or more popularly known as “Bayanihan to Recover as One Act” (Bayanihan 2), echoed one of the more important provisions of its precursor, Bayanihan 1 (RA 11469). Section 4(cc) of RA 11494 liberalizes once again the grant of duty and tax incentives to manufacturers and importers dealing with essential goods or critical equipment needed to contain the cataclysmic effects of this pandemic. Bayanihan 2 took effect immediately upon its publication on September 15, 2020. But the law also specifically provided that its Section 4(cc) “shall be deemed to be in effect since Republic Act 11469 expired,” that is, on June 25, 2020. RA 11469’s effectivity is until the next adjournment of the Eighteenth Congress or on December 19, 2020, the same being expressly provided by law. So, what goods are covered by and could benefit from these incentives? The list is a bit long. First, the covered Covid-19 goods refer to those essential goods related to the containment or mitigation of the pandemic. These goods include personal protective equipment (PPE) such as gloves, gowns, masks, goggles, and face shields; surgical equipment and supplies; laboratory equipment and its reagents; medical equipment and devices; support and maintenance for laboratory and medical equipment; surgical equipment and supplies; medical supplies, tools, and consumables such as alcohol, sanitizers, tissue, thermometers, hand soap, detergent, sodium hypochlorite, cleaning materials, povidone iodine, common medicines (e.g., paracetamol tablet and suspension, mefenamic acid, vitamins tablet and suspension, hyoscine tablet and suspension, oral rehydration solution, and cetirizine tablet and suspension); testing kits, and such other supplies or equipment as may be determined by the Department of Health (DOH) and the Department of Trade and Industry (DTI). Secondly, the incentives shall likewise be granted to equipment

for waste management, including, but not limited to, waste segregation, storage, collection, sorting, treatment and disposal services. Note that the said equipment and technologies and services should be approved by the Department of Environment and Natural Resources (DENR), DOH or other concerned regulatory agencies. Lastly, goods covered also include inputs, raw materials and equipment necessary for the manufacture or production of those essential goods referred to above related to the containment or mitigation of Covid-l9. Understandably, these goods are vital components in order to undertake the production of those goods previously enumerated. Since these involve incentives, the law specifically provides that the exemption from such duties and taxes for the manufacture or importation of critical equipment or essential goods shall be determined by the Bureau of Customs and the Bureau of Internal Revenue. The BOC issued a Customs Administrative Order for these importations under Section 4 (cc) of RA 11494. For its part, the BIR issued Revenue Regulations (RR) 28-2020 dated October 15, 2020 to implement said tax provisions of RA 11494, the salient points of which are outlined below. In general, the covered period for the importation would be from June 25, 2020 (i.e., upon the lapse of Bayanihan 1’s effectivity) up to December 19, 2020 (i.e., end of Bayanihan 2). The importation of those sets of goods enumerated above shall be exempt from Value-Added Tax (VAT), excise tax and other fees, subject

to certain conditions (i.e., approval and certification by the concerned government agencies such as DOH, DTI and DENR). It is critical to take note of the effectivity or the specific period covered when such exemption applies. In the event that VAT has been paid on qualified shipments/ importations within the period of June 25,2020 up to September 14,2020, the same shall be refunded pursuant to Section 204(C) of the Tax Code (i.e., refund of taxes erroneously received). However, the input tax on the imported items should not have been reported and claimed as input tax credit in the monthly and/or quarterly VAT returns. The same shall not be allowed as input tax credit pursuant to Section 110 of the Tax Code for purposes of computing the taxpayer’s VAT payable for the said period. Remember that in order to qualify for exemption from import duties, taxes and other fees and ensuring the PPE supply at competitive prices, the taxpayer availing of the exemption must present a certification from DTI that the equipment and supplies being imported are not locally available or of insufficient quality and preference. Unlike in other importations, the importations herein shall not be subject to the issuance of Authority to Release Imported Goods under Revenue Memorandum Order 35-2002, as amended. It may be released by the Bureau of Customs without need of such ATRIG. The BIR may, however, conduct post investigation/audit on these importations released by the BOC without ATRIG under this regulation. As mentioned, inputs, raw materials and equipment necessary for the manufacture of essential goods of medical grade related to the containment and mitigation of Covid-l9 enumerated above, as determined by the Food and Drug AdministrationDepartment of Health, whether locally sourced or imported by the registered manufacturer, shall also be exempt from VAT. To avail of the exemption, the supplier of inputs, raw materials and equipment should submit the certified true copy of the “License to Operate” as issued to the manufacturer-buyer by the FDA-DOH, authorizing the manufacture of such essential goods of medical grade. Also required would

be a Sworn Declaration from the manufacturer-buyer that the items shall be used for the manufacture of essential goods of medical grade related to the mitigation of Covid-l9. Lastly, donations of these imported articles to or for the use of the National Government or any entity created by any of its agencies not conducted for profit, or to any political subdivision of the Government are likewise exempt from donor’s tax and subject to the ordinary rules of deductibility under existing rules and issuances. What happens then when sales of those covered goods occur? The sale of finished goods or products categorized above as essential, whether locally manufactured or imported, is subject to value-added tax. On the other hand, the sale of inputs, raw materials and equipment to a non-holder of “License to Operate” issued by the FDA-DOH is likewise subject to VAT. Reiterating said tax incentive provision under Bayanihan 2 continues to give a welcome respite to businesses that are striving to stay afloat amid the devastation of this pandemic. Incentivizing the manufacturing sector that has consistently been fueling the country’s economic growth could help boost their chances of continuing their operations while at the same time aiding the government to ensure the critical supply of these essential Covid-19 goods. But given the continuing economic uncertainty, the government should look beyond short-term fix or stopgap measures mainly being offered now. A more comprehensive and sustainable solution should be formulated and already implemented not only to assist business to recover but one that gets us back on track to regain the lost momentum in our country’s economic growth.

The author is a Special Counsel of Du-Baladad and Associates Law Offices (BDB Law), a memberfirm of WTS Global. The article is for general information only and is not intended, nor should be construed as a substitute for tax, legal or financial advice on any specific matter. Applicability of this article to any actual or particular tax or legal issue should be supported therefore by a professional study or advice. If you have any comments or questions concerning the article, you may e-mail the author at ernie.guevara@ bdblaw.com.ph or call 8403-201 local 160.

A12 Tuesday, November 24, 2020

‘Lifting mobility curbs spurs economy, gives poor a break’ By Cai U. Ordinario

@caiordinario

PENING up the economy and removing restrictions would not only allow the economy to recover but also address the inequalities created by the lockdown imposed in the country. In a presentation at the virtual Pilipinas Conference 2020 on Monday, Social Weather Stations (SWS) President Mahar Mangahas said mobility restrictions have prevented many Filipinos from earning a living in the past few months. This, Mangahas said, was opposed to the experience of Filipinos who had their own cars and were free to move around and conduct their daily lives. Imposing mobility restrictions were also not founded on research and should already be removed. “They [mobility restrictions] have nothing to do with infection, they have to prove first that there is infection before you start changing, restricting people like that. To me that’s so unfair to the ordinary people,” Mangahas said. “As compared to the people with cars, [they] went out without restrictions and do their ordinary thing. That’s so exclusive to restrict transportation like that,” he added. Mangahas said removing restrictions on public transport means allowing all Filipinos to have access to jeepneys and tricycles so they

can get back to their ordinary life. This was supported by data they collected at the SWS. In 2020, Filipinos who thought their life is worse now than before shot up to 82 percent and only 6 percent saying their lives are better now than before. This, he said, is linked to the performance of the economy. In the past 38 years, Mangahas said, more Filipinos became optimistic about their lives when the economy was inclusive, particularly between 2015 and 2019. During this time, Mangahas said, the country experienced benign inflation which allowed wages to increase in real terms and the government continuously provided Conditional Cash Transfers (CCTs) to poor households. “Let go of unnecessary restrictions to the economy. Let go of curfew, let go of the rules about jeepneys and tricycles,” Mangahas said. “Let go of the [restrictions] where people can’t go back to their ordinary hanapbuhay.”

Health-care risks

While lifting restrictions is one way to bring back the lost vigor of the Philippine economy, the lifting of some restrictions threatens the economy, particularly healthcare. Ateneo School of Government (ASOG) Dean Ronald U. Mendoza said efforts to “build back better” the Philippine economy should include ensuring the stability of the health-care system. See “Mobility curbs,” A2

HMOs net income triples in H1 amid pandemic, says IC

By Bernadette D. Nicolas

@BNicolasBM

EALTH maintenance organizations (HMOs) saw their industry-wide net income tripling to P4.53 billion during the first half of the year amid the pandemic, according to the Insurance Commission (IC). The IC said on Monday the industry’s total net income grew by a staggering 203.41 percent from only P1.49 billion in the same period last year based on unaudited interim financial statements submitted by 22 HMOs. “Based on these unaudited reports, the HMO industry’s total net income jumped from P1.49 billion as of 30 June 2019 [“2Q 2019”] to P4.53 billion as of 2Q 2020. This may be explained by the 6.4-percent decrease in the industry’s total expenses against its increasing rev-

enues,” Insurance Commissioner Dennis Funa said in a statement. “Notwithstanding this, however, 10 companies reported a decrease in their net income ranging from 8.44 percent to 249.33 percent,” Funa added. The IC also observed upward trends in the industry’s total assets, total liabilities, total equity and total revenues. For the first half of this year, total HMO industry assets surged by 51.7 percent to P52.09 billion from P34.34 billion in the same period a

year ago. On the other hand, its total liabilities this year also jumped by 50.2 percent to P40.85 billion from P27.19 billion from January to June last year. “This increase in the industry’s total liabilities is due to unearned membership fees, which constitute 60.74 percent of such liabilities. It can be presumed that this is due to the difficulties encountered by the HMO industry in the collection of membership fees because of certain restrictions imposed by the National Government in response to the Covid-19 pandemic,” Funa said.

Revenues climb

For the first six months of the year, the industry’s total revenues also climbed by 6.7 percent to P25.64 billion from P24.03 billion last year. Apart from this, the total equity of the HMO industry for the same period also soared by 57.26 percent to P11.25 billion this year from P7.15 billion in 2019.

3 House leaders pitch ₧247B in Bayanihan 3 recovery bill By Jovee Marie N. dela Cruz

@joveemarie

ITING the need for a “booster shot for 2020,” three leaders of the House of Representatives on Monday filed the Bayanihan to Rebuild as One Act, which will provide P247 billion in emergency response and economic recovery programs. House Majority Leader Ferdinand Martin Romualdez, AAMBIS-OWA Rep. Sharon S. Garin, and House Commitee on Ways and Means Chairman Joey Sarte Salceda filed House Bill 8059, or the Bayanihan III. While the first two Bayanihan laws were able to keep the economy afloat, Salceda said he believes that the third stimulus measure is “the necessary booster shot so we can truly begin recuperating in 2021.” Salceda said the House is likely to pass the measure within the next two weeks. Salceda, who also cochairs the House Economic Stimulus and Recovery Cluster, said the interventions are made primarily to ensure that national and local government units can mobilize “robust response and recovery programs” in the face of recent typhoons and slower than expected recovery in the third quarter of the year. “I made it clear to the economic managers that if we recover more quickly than expected in the 3rd quarter, a third Bayanihan may no longer be necessary. Seeing as it is that the economy did not recover as quickly as expected in the past quarter, and given the recent spate of typhoons, we need to provide emergency aid,” Salceda said. The measure is divided mainly into health, regulatory, and economic interventions. The bill includes P20 billion for the procurement of vaccines, the creation of a vaccine committee, and measures to ensure the sufficiency of health supplies. The proposal also contains rental housing relief, an eviction moratorium, condonation of agrarian reform loans, small business regulatory relief, and credit mediation and refinancing assistance. The measure includes a P40-billion local government support fund for calamity response, P100 billion in healthand resiliency-related infrastructure

programs, P10 billion in assistance programs for agriculture and fisheries, P7 billion for rent refinancing, P10 billion for companies to borrow for paying 13th month benefits, P10 billion for Tulong Para sa Displaced workers (Tupad), P10 billion for the Covid Adjustment Measures Program (CAMP), P10 billion for Assistance to Individuals in Crisis Situation (AICS), P10 billion for the Medical Assistance for Indigents Program (MAIP), P5 billion each for Technical Education and Skills Development Authority (Tesda) and the Commission on Higher Education, and another P10 billion for DepEd programs. “You will see that my contribution here is primarily the structural credit interventions. We have already introduced around P1.9 trillion in new liquidity due to monetary policies. But credit uptake is still low; part of it is due to demand. But part of it is due to the structural defects of usual loan products. That’s why the state has to come in and create more favorable loan structures,” Salceda said.

Necessary

Salceda said that while he understands the reservations of the Executive Branch to spend more money for the Covid-19 response effort, he believes that a third stimulus program is necessary to ensure that the crisis does not “eat up too much of our economic structure.” “It is very hard to recover when so many businesses have already closed for good,” Salceda said. “The Executive can make their concerns known, and we will take them into consideration. They can even give us a fiscal limit to work on. But what we cannot accept is the idea that we have spent enough in 2020. That may have been barely true if the recent calamities did not strike. But the sheer fact is that more people have gone into poverty this year than we expected,” Salceda said. The lawmaker said the Ways and Means committee already passed measures with P691 billion in 5-year revenue potential, saying “that is more than enough to keep our credit ratings attractive.” According to Salceda, “Secretary [Carlos] Dominguez does not have to worry about fiscal discipline on the part of the House. See “Bayanihan 3,” A2

“The positive change in the industry’s equity may be attributed to the increase in retained earnings, which comprises 74.62 percent of the total equity. However, it should also be noted that the HMO industry’s capital stock decreased by 5.3 percent year-on-year, from P2.80 billion as of 2Q 2019 to P2.65 billion as of 2Q 2020,” Funa said. Nonetheless, Funa said these reports submitted by the HMOs reveal that Filipinos are increasingly recognizing the value of availing HMO products as part of health protection. “Perhaps now during this Covid-19 pandemic situation, more than ever, the importance of HMO products has been highlighted especially that, according to a survey conducted by this Commission from 16 April to 8 May 2020, 89.4 percent of Medical Benefits claims paid during said period was paid by the HMO industry, amounting to P231.36 million out of the P258.8 million total Medical Benefits claims paid,” Funa said.

PNP probes slay of Jolo ex-top cop at weekend By Rene Acosta

@reneacostaBM

HE Philippine National Police is continuing its investigation into the killing of Jolo’s former police chief in Maguindanao over the weekend, but it has no development yet on the case, General Debold Sinas said on Monday as he called on the public to refrain from making speculations. Lt. Col. Walter Annayo was shot dead by gunmen aboard a Toyota Fortuner on Saturday while he was buying coconut juice along the side of a highway in Sultan Mastura, Maguindanao. It sparked speculations that the shooting may have something to do with the killing of four Army intelligence officers by nine Jolo policemen in Sulu in June this year. The nine policemen, who are facing charges, have since been transferred to Camp Crame where they are being held while Annayo was relieved of his post and transferred to the Police Regional Office in Bangsamoro while facing administrative charges for command responsibility. The PNP has initially tagged as a misencounter the cop’s killing of the soldiers—on a counterintelligence mission against terrorists—but the then Army chief, now head of the Armed Forces of the Philippines Gilbert Gapay, said it was murder. “My appeal is for everyone to allow the investigation to proceed and to avoid entertaining baseless theories and unverified information, after all, our common objective is to find out the truth and serve the ends of justice,” Sinas said in his first news briefing with Camp Crame-based reporters. “I am confident that sooner or later there will be a significant breakthrough in the investigation, perhaps a solid lead that will take us closer to the logical conclusion of this case,” he added. Sinas said the investigation is being undertaken by the Criminal Investigation and Detection Group. He instructed the regional police chief of Bangsamoro to a give “special attention” to the case, not only because Annayo was a member of the PNP but “because his death is vulnerable to undue speculation that will only muddle the investigation.”

www.businessmirror.com.ph

Companies BusinessMirror

Tuesday, November 24, 2020

‘Basin studies key to enticing investors in oil, gas drilling’ By Lenie Lectura

@llectura

he Philippine National Oil Company-Exploration Corp. (PNOC-EC) stressed the importance of a well-crafted study of the country’s 16 sedimentary basins to make these marketable for prospective investors.

PNOC-EC President Rozzano Briguez, during Monday’s forum “Philippine Energy Transition: A Race Through Economic Disruption, Technology Shifts and Innovation,” stressed the importance of geological and geophysical studies on these basins, saying these are pre-conditions to the government’s plan to entice future investors of energy exploration in the country. “The study will be the foundation of the investors’ knowledge on the premise of the Philippines in terms of energy resources. We have to en-

sure that our sedimentary basins are well studied because it’s really the foundation of future explorations we have,” said Briguez. PNOC-EC has partnered with the Department of Energy (DOE) and the University of the Philippines (UP) for the conduct of the ongoing study which started 2 years ago. “Right now, it is in full swing with the DOE and UP. It has been a continuing effort by PNOC-EC, starting with Cagayan basin. We partnered with DOE on this. With UP, we plan to extend these studies to the Cota-

bato basin and elsewhere. In other countries, our neighbors are really having 24/7 studies of their entire geological basin. In the Philippines, unfortunately, we don’t,” he said. He did not say when the studies would be completed. “This would take long a long time to accomplish, but it’s a good start.” The 16 basins cover an area of more than 700,000 square kilometers. These are Agusan-Davao basin, Bicol Shelf, Cagayan basin, Central Luzon basin, Cotabato basin, East Palawan basin, Ilocos Trough, Mindoro-Cuyo basin, Northwest Palawan basin, Reed Bank basin, Southeast Luzon basin, Southwest Palawan basin, Sulu Sea basin, Visayan basin, West Luzon basin and West MasbateIloilo basin. Philippine Energy Independence Council president Don Paulino, meanwhile, stressed the importance of the pursuing oil exploration activities at Recto Bank. “It’s really about making sure we understand the geology of our sediments in these areas, West Philippine Sea [WSP] particularly because

that continues to be underexplored. The pronouncement lately on the exploration on WPS is very much welcome,” he said. The DOE earlier lifted the moratorium on oil exploration activities in the West Philippine Sea, effectively allowing PNOC-EC, Forum Energy, and PXP Energy Corp. to resume exploration activities under Service Contract 59 in West Balabac, Palawan; Service Contract 72, which covers Recto Bank, also known as Reed Bank; and Service Contract 75 is in Northwest Palawan. “This allows a more sustainable development of the WPS because for me I see a lot opportunity in that area,” he added. Meanwhile, AC Energy President Eric Francia expects energy demand to pick up starting next year. When he was asked during the forum about next year’s prospects, he said industry demand would resume to its pre-Covid level, if not higher, starting 2021. “Together with recovery and demand, we are already seeing confidence in both consumer and businesses. We have started slowly seeing that in Luzon,” he said.

New stores open at Eton Centris By VG Cabuag @villygc

ton Properties Philippines Inc. on Monday said its development in Quezon City is seeing more physical store openings as Metro Manila relaxes its quarantine restrictions. In September, Eton Centris opened two new restaurants Popeye's and Pares Retiro. Last month, Maxicare Primary Care Center opened in one of Eton Centris’ office buildings, Cyberpod Centris Five, and recently, IQOS launched its branch in the courtyard-style mall.

While more retail businesses are transitioning into the digital platform, there are still a good number that finds benefit in brick and mortar stores, according to Eton’s COO Karlu Tan Say. “A lot of businessmen would agree that digital transformation is really the way to go, but to have a physical store where customers can experience your product and exemplary service, alongside technology, is more powerful and sustainable,” he said. “Businesses have not disregarded the fact that a sense of community, such as going to the mall, is still an

essential part of the Filipino culture. In fact, our business partners are future-proofing their investments by finding more value in our wide open spaces in Eton Centris, instead of compact and closed structures because of the healthy and safe environment that we provide,” Eton EVP Charlie Carlos said. Eton Centris is a 12-hectare commercial property with a courtyard architectural design featuring wide pathways and floor areas. Eton reported an income of P633 million in January to September, P4 million higher than the previous year due to the increase in rental income.

Eton had a leasing portfolio of approximately 181,000 square meters of office space and over 43,000 square meters of retail space. Projects in the pipeline include the 36-storey Blakes Tower in Makati City which will have 10,500 square meters of office space and 14,000 square meters of residential space. Others are the 4.3-hectare Eton City Square in Sta. Rosa, Laguna, with the first phase having 6,900 square meters of commercial space and NXTower I, an office building along Emerald Avenue and Ruby Road in Ortigas with 21,000 square meters of gross leasable area.

Mega Global doubles investment in plant By Roderick L. Abad @rodrik_28 Contributor

EGA Global Corp. announced that the investment for its first manufacturing plant in Luzon has more than doubled to over P1 billion to meet the growing demand for its canned goods both in Luzon and abroad. “The reason why we invest more is to make the whole plant more diversified,” Mega Global President and CEO William Tiu-Lim told reporters during their virtual press conference over the weekend. “We are grateful for the capacity to expand our operations, especially during this time of crisis.” The company held the groundbreaking ceremony for the Mega Manufacturing Plant in Sto. Tomas, Batangas, on November 23. “We plan to complete this by 2022, but we are really geared towards finishing it by the last quarter of 2021,” said Malcolm Tiu-Lim, chief technical and innovation officer of Mega Global. According to him, the new facility will be equipped with state-of-the-art technology and machines to process sardines. Designed to be “eco-friendly,” it will also have a world-class, zerowaste fish meal facility, cold storage, and warehouse, as well as an energyefficient light system to minimize its carbon footprint. “This is also planned to be an open plant system, mainly stating that we also want the consumers to really see how the product is made with quality,” he noted, adding that they are securing international certifications so that they could export to countries in Europe and the Middle East. Once fully operational, the Mega Manufacturing Plant will increase

the firm’s overall production capacity by as much as 50 percent from the current annual output of 300 metric tons of its Zamboanga operations. This, in turn, is expected to enable the company to record a double-digit increase in market share in the next 3 to 5 years. “For sardines, according to Kantar, we’re at 30 percent market share out of 26 different brands,” cited Mega Global Chief Growth and Development Officer Marvin Tiu-Lim. “So, hopefully, we can even further that through our innovations, through our marketing, and through our product differentiation which is really of quality.” The Mega Manufacturing Plant, once fully operational, will not only create an impact on the company’s overall business, but it will also generate over 1,000 new jobs in Batangas and neighboring areas. “Through this, we’re also given the opportunity to help the DTI [Department of Trade and Industry] with their 'Buy Local, Go Lokal' program, which we plan to work with local suppliers from all over Luzon for our raw materials, manpower and operational needs,” the company president said. Mega Global is celebrating the National Sardines Day this year and is launching the Mega Bigay Sustansya Sa Pasko CSR program, in partnership with the Nutrition Center of the Philippines and Reach Out Feed Philippines. This initiative aims to serve nutritious meals to over 100,000 impoverished families nationwide before the year ends. Donations can be made directly to the Tiu Lim Foundation or by purchasing any of the Mega Global National Sardines Day bundles via various online platforms, including Shopee and Lazada.

ERC issues 113 COCs to power firms in Q3

Villar firm SM to open new mall in Zamboanga City changes name

he board of the Villar Group’s listed socialized housing and deathcare business Golden Bria Holdings Inc. has approved the change of the name of the firm. In its disclosure to the Philippine Stock Exchange, the company said it is changing its name to Golden MV Holdings Inc. The company needs two-thirds approval vote of its shareholders for it to effect the new name. The company did not state the reason for the name change. This is not the first time that the company changed its name following its initial public offering in mid-2016, when it was still known as Golden Haven Memorial Park Inc. In October 2017, it changed its name to Golden Haven Inc. after it included memorial service and cremation as part of its new revenue streams. Later that year, it acquired Bria Homes Inc., the low-cost housing firm of the Villar Group. In February 2018, it changed its name to Golden Bria. Total net profits of the company during the nine months of the year fell 40 percent to P1.01 billion from P1.67 billion last year. Revenues fell by a third during the period to P4.01 billion from last year's P5.88 billion as retail estate sales from its residential and memorial lots plunged due to the impact of the community quarantines that banned construction. It had revenues of P804.59 million from its deathcare business and P3.21 billion from the sale of residential lots. Income from chapel services decreased by almost half to P17.1 million from P32.3 million last year due to the decline in the number of memorial chapel and cremation services during the period, the company said. VG Cabuag

By Manuel T. Cayon Mindanao Bureau Chief @awimailbox

AVAO CITY—The SM chain of supermalls would open its 76th shopping mall in Zamboanga City on Friday, in time for the holidays and more than a week after it opened a mall in Butuan City, all in Mindanao. To be named SM City Mindpro, it is SM Prime Holdings’ seventh mall in Mindanao, and the first in the Zamboanga Peninsula region. The mall is located in a 13,078 square-meter site along La Purisima Street and Campaner Street in Barangay Zone III. Its 4 levels would have a total floor space of 59,383 square meters. The mall is within a short walk to the wellknown Metropolitan Cathedral, Plaza Pershing, Paseo Del Mar and nearby pier. Striking glass walls at the main entrances and a dramatic linear overhang stretching along La Purisima Street create an impressive appearance for the mall when approached in every direction, SM said. The SM Store and SM Supermarket are SM City Mindpro’s major anchors, along with SM mainstays like SM Appliance Center, ACE Hardware, Watsons, Surplus, Miniso, and Sports Central. It will also have fashion boutiques, jewelry stores, bookstores; as well as a Cyberzone and service and wellness outlets. “Eating out options include specialty restaurants, and international and local food chains like Hap Chan,

BusinessMirror file photo

T Pancake House, Bigby’s, Buffalo Wings N’ Things, Dunkin Donut, Cinnabon, Pretzelmaker, Chatime, and Macao Imperial Tea," SM said in a statement. “Dining in the mall is experiential, not only because of the exciting food choices in its four levels of restaurants, but also its new dining experiences using touch-free, cashless payment services.” Zamboanga City-based brands like Bay Tal Mal, Turkish Grille Plus, Casa Velyn, South Avenue, Kape Sur, Sophia Jewelry and Oro Italia Fine Jewelry have stores in SM City Mindpro. It will also feature four state-ofthe-art cinemas. The SM City Mindpro would serve shoppers from this bustling city, as well as those from the rest of the Zamboanga Peninsula, in Zamboanga del Norte, Zamboanga del Sur, and Zamboanga Sibugay and the

cities of Dapitan, Dipolog, Isabela, and Pagadian. “More than that, it would be a catalyst for employment and business opportunities in the area,” it added. SM City Mindpro has 6 parking levels with 481 car slots, 53 motorcycle slots, 12 for persons with disabilities’ vehicles as well as tourist transport terminals. SM City Mindpro’s project team includes DSGN Associates, Design Consultant; Jose Siao Ling and Associates, Architect on Record; Gridlines, Construction Management; and Metro Stonerich Corp. as general contractor. SM said the mall has a sewage treatment plant and a treated water recycling tank system. An underground rainwater tank was also installed to help mitigate the cause of flooding within the mall’s neighboring areas.

he Energy Regulatory Commission (ERC) has cleared 113 applications for Certificates of Compliance (COCs) in the third quarter of the year, bringing to 37,817 COCs the total number of issued COCs since 2003. These certificates are licenses issued by the ERC to power generation companies (GenCos), Qualified End-Users (QEs) and Entities with Self-Generation Facilities (SGFs) to operate a power facility. The 113 COCs and PAOs correspond to a total capacity of 4,213.83 megawatts (MW) of electricity, the agency said Monday. Of which, 25 COCs were issued to Independent Power Producers and 88 to SGFs. “This shows the agency’s resiliency and commitment to achieve its targets despite the challenges brought by the Covid-19 pandemic. More than ever, we need to ensure that there will be sufficient power supply to keep the hospitals running around the clock, and that the students and workers who are studying and working through online will get continuous electricity connection,” said ERC Chairperson and CEO Agnes VST Devanadera. Meanwhile, only 21 COCs were issued in the second quarter, mainly

due to quarantine measures imposed by the government. As a result, processing of COC applications were affected due to the limitations brought about by the said pandemic, as well as the lockdowns imposed in the ERC’s office. “Our agency was able to quickly adapt to the ‘New Normal’ and implemented alternative work arrangements that enabled the conduct of virtual power plant inspections, instead of the usual ocular or physical inspections. “We also promulgated the ‘Guidelines Governing Electronic Applications, Filing, and Virtual Hearings before the ERC’ to ensure the continuous performance of our mandate,” Devanadera added. Also, the third-quarter monitoring report of the ERC showed that no GenCo has breached the market share limitations per grid and national grid. However, there were some GenCos that failed to file or renew their COCs within the prescribed period. “The ERC will continuously perform its mandate pertaining to the issuance and renewal of Generation Companies’ COCs in order to ensure that there is ample power supply as we rise above the challenges brought by the pandemic and the destruction wrought by the recent typhoons,” Devanadera said. Lenie Lectura

Companies BusinessMirror

Tuesday, November 24, 2020

PSE STOCK QUOTATIONS

November 23, 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 BRIGHT KINDLE COL FINANCIAL FIRST ABACUS FERRONOUX HLDG IREMIT MEDCO HLDG NTL REINSURANCE PHIL STOCK EXCH SUN LIFE VANTAGE

46.05 107.3 88.5 25.5 11.6 49.35 9.72 21 29.65 52.65 105 19.2 121 65.9 0.91 27.5 0.68 4.15 1.25 0.335 0.65 158.6 2000 1.05

47 107.4 88.6 25.55 11.62 49.4 9.8 22 29.75 53.2 106.5 19.3 122.5 66 0.94 27.6 0.7 4.16 1.26 0.34 0.66 160 2096 1.09

45 105 87.4 25.3 11.3 47.7 9.79 20.5 29.65 53.5 99.9 19 113 65.8 0.91 27.5 0.73 3.58 1.22 0.34 0.66 162 2000 1.05

48 110 89 25.55 11.8 49.8 9.8 22 30.25 53.5 106.6 19.5 122.5 66.5 0.94 27.6 0.73 4.95 1.26 0.34 0.67 162 2000 1.09

44.8 104.9 87 25 11.22 47.6 9.6 20.5 29.55 52.55 99.9 18.68 113 65.6 0.91 27.5 0.68 3.58 1.22 0.325 0.64 160 2000 1.05

46.05 107.4 88.6 25.55 11.6 49.4 9.8 22 29.65 53.2 106.6 19.22 122.5 66 0.94 27.6 0.7 4.16 1.25 0.34 0.64 160 2000 1.09

43800 14493050 6738850 295700 2045700 10333900 44400 47400 1750000 2920 130 246400 3443760 125140 75000 32200 132000 3048000 90000 730000 456000 17880 1790 67000

2001000 1572347106 594814753 7531700 23670260 506691915 431897 986800 52190600 155908.5 13194 4743414 414423595 8258415 68310 887390 91240 13222360 111230 242150 298040 2861440 3580000 72950

-95 12621819 148386443 603775 1782316 -167132415 -36821765 65227829 1913040.5 -466440 -66200 3580000 -

INDUSTRIAL

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

6.38 1.44 27.95 0.242 29 65.4 301 15.34 3.9 3.5 12.7 18.34 10.48 13.36 8.18 3.14 75.05 16.7 17.7 5.35 7.16 10.08 67.25 0.71 1.51 53 193 52.1 8.3 7.7 0.162 8.76 1.23 4.74 1.77 0.114 152 0.94 2.4 52 52.3 1.8 5.37 15.34 7.63 7.27 10.32 8.41 0.87 1.09 122.8 1.89 2.9 4.64 21.95 2.61 7.66 1.12 5.21 1.61 7.26

6.39 1.45 28 0.243 29.05 66.05 302.2 15.4 3.94 3.54 12.9 18.66 10.5 13.96 8.19 3.15 87.1 16.8 17.86 5.36 7.2 10.1 67.5 0.72 1.53 53.45 193.2 54.95 8.49 7.71 0.167 8.8 1.24 4.84 1.8 0.117 153 0.95 2.49 54.6 54.9 1.81 5.49 15.52 7.65 7.28 10.34 8.8 0.88 1.12 159.5 1.9 2.94 4.74 22 2.62 7.67 1.13 5.5 1.62 7.27

6 1.41 27.65 0.22 28.7 66.55 304.2 15.44 3.81 3.4 12.9 18.16 10.48 13.98 8.2 3.08 87.1 17.26 17.7 5.34 7.28 10.1 65.15 0.72 1.53 53.5 195 55 8 7.45 0.17 8.48 1.25 4.83 1.77 0.113 151 0.91 2.43 52 52.05 1.75 5.55 15.86 7.49 7.34 10.7 8.75 0.87 1.12 122.2 1.9 2.49 4.64 22 2.68 7.6 1.11 5.59 1.57 6.9

6.45 1.48 28.45 0.242 29.1 66.55 309 15.6 3.98 3.53 13 18.7 10.48 13.98 8.2 3.15 87.1 17.26 17.96 5.38 7.28 10.14 69.8 0.74 1.58 53.6 195 55.5 8.5 7.8 0.17 8.8 1.25 4.83 1.77 0.113 153 0.95 2.5 52 55.1 1.84 5.55 15.86 7.65 7.42 10.9 8.95 0.9 1.17 122.2 1.9 3.17 4.75 22.5 2.69 7.7 1.14 5.59 1.62 7.3

5.92 1.4 27.65 0.216 28.5 65.15 301 15 3.78 3.4 12.7 18 10.36 13.98 8.14 3.07 87.1 16.08 17.7 5.3 7.1 10 65.15 0.7 1.48 52.55 192.2 52 8 7.45 0.162 8.48 1.23 4.83 1.77 0.113 150.5 0.91 2.4 52 52.05 1.75 5.25 15.2 7.45 7.01 10.02 8.75 0.86 1.09 122.2 1.87 2.49 4.64 21.95 2.58 7.55 1.1 5.5 1.54 6.88

6.39 1.45 28 0.242 29.05 65.4 301 15.34 3.9 3.53 12.7 18.34 10.48 13.98 8.19 3.14 87.1 16.7 17.7 5.35 7.16 10.1 67.25 0.71 1.53 53 193 52 8.49 7.7 0.162 8.8 1.23 4.83 1.77 0.113 152 0.95 2.4 52 55.1 1.81 5.47 15.52 7.65 7.28 10.34 8.8 0.87 1.12 122.2 1.89 2.9 4.64 22 2.62 7.67 1.13 5.5 1.61 7.27

72503300 10420000 4239100 115330000 1660400 51580 264020 2125800 13249000 29000 91500 3346700 211900 2900 752600 2750000 10 36900 601800 119600 2475600 11538300 466860 1624000 27989000 89050 813110 1410 28500 1252300 1320000 863900 4710000 4000 6000 50000 1070840 8656000 249000 500 650 28104000 206600 341700 569100 5695900 7970300 90200 218000 3799000 10 119000 20336000 106000 207300 13241000 1814100 1290000 4300 2349000 8518300

446831914 -20282981 15126920 19290 119375570 -15380900 26166640 -394860 48177120 -22100990 3377866 -2388001 79,940,000( 40,894,588.0004) 32590120 3376432 51659590 -985180 101480 1173078 14190 61747330 -44866742 2206146 40542 6157324 205250 8585460 36980 871 613056 10732064 -4285192 640165 -152474 17722680 -375967 116396782 23113682 31852509.5 -13423910 1163090 -14000 42632230 483660 4738915.5 157155622 -40127631 74812 234577 9536289 49600 218250 7502138 716942 5809430 -621260 19320 10620 5650 162567830 47515477 8102810 84980 621700 26000 34780.5 50449990 -2999810 1123922 5264564 -1151064 4298699 117114 41155793 529198 83482364 -10314634 794175 191900 4249720 1222 224810 59568220 -297130 495640 -47500 4563070 -2177875 34693800 1568740 13908015 423807 1445290 23659 3719200 60560776 5421835

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 FORUM PACIFIC GT CAPITAL HOUSE OF INV JG SUMMIT KEPPEL HLDG A LODESTAR LOPEZ HLDG LT GROUP MABUHAY HLDG METRO PAC INV PACIFICA HLDG PRIME MEDIA SOLID GROUP SYNERGY GRID SM INVESTMENTS SAN MIGUEL CORP SOC RESOURCES SEAFRONT RES TOP FRONTIER WELLEX INDUS ZEUS HLDG

0.6 9.15 840 46.9 9.81 3.26 6.4 0.69 0.92 0.91 5.45 5.47 9.11 0.216 610 4.01 73.25 4.96 0.82 2.95 13.68 0.53 4.3 4.35 0.83 1.18 294 1053 134.9 0.69 1.9 144 0.228 0.169

0.61 9.52 841 47 9.85 3.27 6.6 0.71 0.93 0.94 5.47 5.49 9.29 0.229 621 4.09 73.3 5 0.83 2.96 13.74 0.56 4.36 4.38 0.84 1.21 295 1055 135 0.7 2.28 144.6 0.237 0.17

0.62 9.4 855 46.85 10 3.3 6.6 0.71 0.92 0.91 5.38 5.53 9.07 0.23 603 3.8 73.4 4.92 0.82 2.85 13.74 0.55 4.23 4.39 0.84 1.23 299 1035 126 0.7 1.91 137.6 0.225 0.176

0.63 9.6 856.5 47.95 10.1 3.34 6.6 0.72 0.94 0.94 5.52 5.7 9.3 0.23 633.5 4.06 73.45 4.98 0.84 2.97 13.8 0.57 4.38 4.39 0.84 1.25 299.2 1070 142.9 0.7 1.91 144.5 0.238 0.176

0.59 9.02 840 46.8 9.81 3.2 6.6 0.68 0.9 0.91 5.38 5.47 9.07 0.215 603 3.75 72.65 4.92 0.82 2.84 13.46 0.52 4.22 4.2 0.82 1.21 291.4 1035 125 0.7 1.9 137.6 0.225 0.167

0.6 9.52 840 46.9 9.81 3.26 6.6 0.71 0.93 0.94 5.45 5.47 9.29 0.215 610 4.06 73.25 4.96 0.82 2.95 13.68 0.56 4.3 4.35 0.84 1.21 299.2 1055 135 0.7 1.9 144 0.237 0.169

21107000 16200 409920 1058600 14045700 7569000 16400 673000 3584000 26000 8435900 16170900 23000 500000 319930 287000 1001790 17600 2026000 5406000 3697700 406000 49782000 17000 306000 105000 1470 217855 914820 26000 14000 32610 1190000 4990000

12819210 151577 346454740 50128925 139074409 24668870 108240 469990 3298180 23690 45956614 89909122 213677 107650 199074775 1142040 73379537.5 87262 1662620 15834710 50679380 220190 213795440 72430 255140 127860 432616 230013585 124419871 18200 26630 4593278 271320 844810

-1159870 -46894460 -3682285 -39740944 5381340 7560 940 -14495113 8984770 23814005 -25721105 -4529340 -10801678 -815790 -17400 -50400 24215555 18046561 -3086182 -62530

PROPERTY ARTHALAND CORP 0.66 0.67 0.66 0.67 0.64 0.67 2622000 1726220 8 8.18 7.82 8.19 7.82 8.19 5300 42383 ANCHOR LAND AYALA LAND 38.7 39 39.9 40.3 38.7 38.7 12266200 486109145 1.2 1.24 1.13 1.25 1.13 1.2 695000 830590 ARANETA PROP AREIT RT 27.45 27.5 27.1 27.6 27.05 27.5 1658800 45534155 BELLE CORP 1.6 1.61 1.64 1.7 1.6 1.61 2545000 4173510 0.89 0.9 0.86 0.89 0.85 0.89 4491000 3946780 A BROWN CITYLAND DEVT 0.8 0.81 0.79 0.81 0.79 0.8 110000 88330 0.154 0.155 0.16 0.161 0.154 0.154 7260000 1152080 CROWN EQUITIES 6.04 6.3 5.8 6.4 5.8 6.3 641100 3964056 CEBU HLDG CEB LANDMASTERS 4.69 4.7 4.71 4.74 4.67 4.7 514000 2413410 0.445 0.45 0.445 0.45 0.445 0.445 18200000 8139600 CENTURY PROP CYBER BAY 0.37 0.375 0.37 0.38 0.36 0.37 6270000 2303900 14.88 14.9 14.6 15.14 14.56 14.88 9386800 139894602 DOUBLEDRAGON 6.02 6.07 6.1 6.17 5.98 6.07 632400 3816922 DM WENCESLAO EMPIRE EAST 0.315 0.325 0.32 0.33 0.305 0.325 3380000 1072400 0.087 0.09 0.088 0.09 0.088 0.09 6530000 576540 EVER GOTESCO FILINVEST LAND 1.08 1.09 1.04 1.1 1.04 1.09 73209000 78854480 GLOBAL ESTATE 0.9 0.92 0.88 0.93 0.88 0.9 2942000 2658810 9 9.2 8.35 9 8.35 9 189200 1630775 8990 HLDG PHIL INFRADEV 1.71 1.72 1.63 1.72 1.62 1.71 7576000 12723150 0.71 0.73 0.72 0.73 0.71 0.71 58000 41700 CITY AND LAND 3.99 4 3.94 4.06 3.9 4 220367000 881221450 MEGAWORLD MRC ALLIED 0.54 0.55 0.53 0.56 0.51 0.55 213326000 113989550 0.38 0.42 0.42 0.42 0.42 0.42 140000 58800 PHIL ESTATES PRIMEX CORP 1.35 1.37 1.31 1.35 1.28 1.35 990000 1312570 17.7 17.76 16.86 17.98 16.8 17.7 14409300 252527848 ROBINSONS LAND 0.275 0.285 0.27 0.285 0.27 0.285 950000 266250 PHIL REALTY ROCKWELL 1.57 1.59 1.57 1.59 1.57 1.58 1954000 3083940 2.71 2.72 2.75 2.75 2.72 2.72 66000 180650 SHANG PROP STA LUCIA LAND 1.99 2 1.95 2 1.93 2 4880000 9552650 SM PRIME HLDG 38.55 39.15 39.4 40.5 38.55 38.55 10947700 430017685 4.75 4.79 4.65 4.8 4.65 4.75 188000 891520 VISTAMALLS SUNTRUST HOME 1.53 1.54 1.52 1.56 1.47 1.54 7349000 11125970 4.53 4.54 4.35 4.59 4.35 4.53 11782000 53019380 VISTA LAND

3960 5741475 11819.9997 -1439450 -1575890 -17200 267400 -2552096 20960 2348500 180000 -100533622 -908907.9999 -1049520 -1301190 27000 3081210 16888040 -12714360 -42737962 -5600 -2069220 -35400 -1950 46995310 71700 -810930 -2001480

SERVICES ABS CBN 11.48 11.5 11.36 11.54 11.34 11.5 507000 5789150 5.88 5.89 5.75 5.9 5.73 5.89 1202300 7029002 GMA NETWORK MANILA BULLETIN 0.435 0.45 0.435 0.46 0.435 0.45 2390000 1077400 11.2 11.52 11.2 11.5 10.9 11.5 5800 65632 MLA BRDCASTING GLOBE TELECOM 2044 2048 2028 2050 2014 2048 61410 125393490 17696830 PLDT 1379 1380 1381 1400 1377 1380 126205 174594500 18752795 0.051 0.052 0.053 0.053 0.051 0.052 38540000 1973260 APOLLO GLOBAL CONVERGE 16.6 16.62 16.9 16.98 16.62 16.62 8447200 141,860,280( 36,972,198.0004) 4.34 4.42 4.23 4.42 4.15 4.32 287000 1237900 -131500 DFNN INC 6.31 6.32 6.4 6.47 6.27 6.32 26170700 165666572 3107441 DITO CME HLDG ISLAND INFO 0.116 0.117 0.118 0.119 0.117 0.117 4670000 550200 18720 1.74 1.77 1.7 1.77 1.68 1.74 188000 324040 JACKSTONES NOW CORP 4.52 4.53 4.65 4.8 4.48 4.52 13514000 62350340 -1149980 0.3 0.305 0.315 0.315 0.305 0.305 20260000 6231150 TRANSPACIFIC BR 3.19 3.21 3.15 3.24 3.1 3.19 3760000 11962020 9970 PHILWEB 2GO GROUP 9.2 9.24 9 9.26 8.71 9.24 510900 4578802 -50385 5.39 5.4 5.53 5.58 5.37 5.39 7488100 40584281 430626 CHELSEA CEBU AIR 51.25 51.3 50 51.7 49.85 51.25 1975200 100376395 -21772480 INTL CONTAINER 125 125.2 128 128 124.2 125.2 1871140 234807640 -52518352 15.5 15.98 16.18 16.26 15.5 15.5 94100 1464804 4650 LBC EXPRESS LORENZO SHIPPNG 1 1.03 0.99 1.04 0.99 1 254000 255380 8.36 8.37 7.66 8.37 7.66 8.37 8944000 72953848 4379631 MACROASIA 2.26 2.27 2.15 2.37 2.15 2.27 7504000 17074520 METROALLIANCE A METROALLIANCE B 2.24 2.4 2.19 2.3 2.19 2.24 79000 175310 7.65 7.68 7.5 7.65 7.44 7.65 240200 1807390 PAL HLDG HARBOR STAR 1.5 1.51 1.58 1.58 1.5 1.5 6732000 10262760 444950 1.5 1.55 1.5 1.5 1.41 1.5 211000 308930 -7500 ACESITE HOTEL 0.032 0.033 0.032 0.033 0.031 0.032 67400000 2137000 BOULEVARD HLDG DISCOVERY WORLD 1.7 1.78 1.7 1.7 1.7 1.7 12000 20400 0.71 0.72 0.7 0.72 0.68 0.72 16281000 11414900 10500 WATERFRONT FAR EASTERN U 615 650 615 650 615 650 190 121450 7.66 7.99 8 8 7.63 7.99 3700 28382 IPEOPLE 0.415 0.42 0.41 0.42 0.4 0.415 18930000 7731800 STI HLDG BERJAYA 4.48 4.62 4.85 4.85 4.39 4.62 784000 3635200 -18800 8.8 8.88 8.8 8.93 8.76 8.88 8988800 79535369 -14075672 BLOOMBERRY 1.97 1.98 2.06 2.06 1.93 1.98 196000 387440 -9900 PACIFIC ONLINE LEISURE AND RES 1.79 1.8 1.7 1.79 1.68 1.79 1924000 3381840 -101670 2.45 2.47 2.47 2.47 2.47 2.47 5000 12350 MANILA JOCKEY PH RESORTS GRP 3.32 3.33 3.04 3.35 3 3.33 70913000 227534900 556120 0.435 0.44 0.435 0.445 0.43 0.435 18050000 7923700 140300 PREMIUM LEISURE 6.8 6.9 6.7 6.9 6.7 6.9 6500 44630 3350 PHIL RACING ALLHOME 8.29 8.3 7.76 8.35 7.76 8.3 3216100 26077506 935694 1.71 1.72 1.64 1.73 1.62 1.71 14653000 24460810 -759450 METRO RETAIL PUREGOLD 43.95 44 44 44.15 43.8 43.95 2820900 124106000 19769285 ROBINSONS RTL 69 69.2 69.6 70 69 69 319180 22090479.5 -13356503 110.5 111 112.8 112.8 110 111 134980 14980440 5037200 PHIL SEVEN CORP SSI GROUP 1.64 1.65 1.6 1.65 1.58 1.64 11995000 19454330 545400 15.94 15.98 16 16.04 15.94 15.98 2140100 34217406 5846052 WILCON DEPOT 0.4 0.405 0.39 0.41 0.39 0.405 6240000 2500250 60000 APC GROUP EASYCALL 7.7 7.8 7.31 8.07 7.31 7.8 405800 3133664 -75000 399 400 400 400 399 400 1660 663670 GOLDEN BRIA IPM HLDG 3.77 3.79 3.75 3.79 3.75 3.79 7000 26490 2.25 2.34 2.25 2.25 2.25 2.25 3000 6750 PAXYS 0.81 0.82 0.79 0.83 0.75 0.81 190006000 150179530 732060 PRMIERE HORIZON SBS PHIL CORP 4.71 4.79 4.83 4.85 4.58 4.71 106000 500310 MINING & OIL ATOK 9.5 9.55 9.52 9.68 9.1 9.55 380000 3551930 APEX MINING 1.84 1.85 1.88 1.9 1.82 1.84 10183000 18962080 -2009230 0.0009 0.001 0.0009 0.001 0.0008 0.0009 7309000000 6578400 32500 ABRA MINING ATLAS MINING 5.36 5.4 5.17 5.4 5.17 5.4 1744500 9257805 -1531300 BENGUET A 3.04 3.19 3.19 3.19 2.9 3.19 289000 884570 3.03 3.2 3.1 3.1 3.1 3.1 14000 43400 BENGUET B COAL ASIA HLDG 0.26 0.265 0.26 0.265 0.26 0.26 450000 117300 2.51 2.52 2.55 2.55 2.45 2.52 229000 573730 500960 CENTURY PEAK 8.2 8.49 8.49 8.49 8.21 8.49 3900 32448 DIZON MINES FERRONICKEL 1.89 1.9 1.81 1.89 1.81 1.89 12186000 22765380 982570 0.255 0.26 0.275 0.275 0.255 0.255 230000 59850 GEOGRACE LEPANTO A 0.149 0.15 0.152 0.152 0.149 0.149 30810000 4603290 0.15 0.152 0.152 0.152 0.151 0.151 730000 110390 LEPANTO B 0.0097 0.01 0.0098 0.0098 0.0098 0.0098 27000000 264600 MANILA MINING A MANILA MINING B 0.01 0.011 0.01 0.011 0.01 0.01 17500000 180000 1.11 1.12 1.11 1.15 1.11 1.12 7649000 8611140 15979.9998 MARCVENTURES NIHAO 2.61 2.63 2.61 2.66 2.6 2.63 310000 811190 -261520 NICKEL ASIA 4.45 4.46 4.4 4.62 4.4 4.45 11524000 51,689,600( 1,268,150.0004) 0.38 0.385 0.36 0.45 0.345 0.38 18160000 7479300 -465100 OMICO CORP ORNTL PENINSULA 0.68 0.69 0.7 0.7 0.67 0.69 2075000 1409900 5.08 5.12 5.1 5.2 5.03 5.12 2928000 14904640 -72120 PX MINING 12.62 12.64 12.22 12.68 12.22 12.64 7958500 99431500 -13733930 SEMIRARA MINING UNITED PARAGON 0.0051 0.0052 0.0053 0.0053 0.0051 0.0051 5000000 25900 7.08 7.09 7.09 7.14 6.92 7.08 896200 6321130 -82184 ACE ENEXOR ORNTL PETROL A 0.01 0.011 0.01 0.011 0.01 0.011 69600000 758000 0.011 0.012 0.011 0.014 0.011 0.011 830300000 11567100 -56200 ORNTL PETROL B 0.0086 0.0087 0.0081 0.0086 0.0081 0.0086 69000000 581100 PHILODRILL PXP ENERGY 12.08 12.1 12.28 12.3 12.02 12.08 1148700 13930884 311824 PREFFERED HOUSE PREF A 100.1 101.1 100 100.1 100 100.1 1130 113103 512 517 513 513 512 512 70 35870 AC PREF B1 ALCO PREF B 102 103 102 102 102 102 490 49980 102.1 108 101.5 101.5 101.5 101.5 80 8120 ALCO PREF C AC PREF B2R 502 509.5 506 509.5 500 500 750 379400 101.5 102 102 102 101.5 101.5 4280 436310 CPG PREF A 101 102 101 101 100.6 101 13610 1370336 -50500 DD PREF FGEN PREF G 110.5 113 112.9 112.9 110.4 112.9 2080 234632 1029 1030 1029 1029 1029 1029 260 267540 GTCAP PREF B 100.9 101 101 101 100.7 101 30090 3039064 1010 MWIDE PREF PNX PREF 3A 100 101 100 101 100 101 250 25050 103 104 103 103 103 103 990 101970 PNX PREF 3B PNX PREF 4 987 990 995 995 987 990 1050 1040130 1012 1014 1041 1041 1014 1014 1420 1440015 PCOR PREF 2B 1060 1069 1061 1065 1060 1065 540 572670 PCOR PREF 3A PCOR PREF 3B 1091 1100 1107 1110 1091 1091 1150 1261530 1.6 1.8 1.7 1.8 1.7 1.8 4000 6900 SFI PREF SMC PREF 2C 78.2 78.4 78.15 78.4 78 78.4 9780 763955.5 398694.5 SMC PREF 2E 76.1 76.3 76.1 76.3 76.1 76.3 530 40339 77.55 78.2 77.55 78.25 77.55 78.2 10600 827138.5 SMC PREF 2F SMC PREF 2G 76.05 77.5 76.05 76.05 76.05 76.05 6380 485199 76.35 76.9 76.3 76.9 76.3 76.9 27340 2087253.5 SMC PREF 2I 76.05 76.1 76.1 76.5 76.05 76.1 2770 210869 SMC PREF 2J PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 11.1 11.4 11.04 11.04 11.04 11.04 4100 45264 5.65 5.67 5.5 5.65 5.5 5.65 290100 1628935 167716 GMA HLDG PDR WARRANTS LR WARRANT 1 1.07 0.86 1.13 0.86 1 2677000 2703090 SMALL & MEDIUM ENTERPRISES ALTUS PROP 13.2 13.26 12.9 13.3 12.88 13.2 488500 6424706 145476 3.75 3.76 3.45 3.79 3.45 3.75 7935000 28788580 3012020 ITALPINAS KEPWEALTH 6.69 6.7 6.2 6.75 6.2 6.69 336800 2202580 5.52 5.53 5.48 5.6 5.44 5.52 23087200 127473100 -790566 MERRYMART EXHANGE TRADE FUNDS FIRST METRO ETF 108.5 108.6 108.2 109.3 108 108.6 34820 3784373 41429

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Double Dragon aims to raise ₧14.7 billion from REIT IPO By VG Cabuag

@villygc

ouble Dragon Properties Corp., the property development firm led by Edgar Sia II, has filed for the initial public offering (IPO) of its own real estate investment trust (REIT), hoping to raise as much as P14.7 billion from the sale of shares. The company called DDMP Reit Inc. will sell 5.94 billion common shares and an over-allotment option of 594.24 million shares to be sold at P2.25 apiece. The company has mandated Credit Suisse (Singapore) Ltd., DBS Bank

Ltd., Nomura Singapore Ltd., and PNB Capital and Investment Corp. to act as global coordinators together with CIMB Investment Bank Bhd., Investment and Capital Corporation of the Philippines, Macquarie Capital Securities (Singapore) Pte. Ltd.,

Maybank Kim Eng Securities Pte. Ltd. and RCBC Capital Corp. “Majority of the proceeds will be infused as equity into CentralHub Industrial Centers Inc. to increase its leasable industrial warehouse space and footprint nationwide. The warehouse complexes are designed for use as warehouses, cold storage facilities, commissaries, or as logistics and distribution centers,” the company said in its registration statement. DDMP will include the first 6 completed buildings in DD Meridian Park. The buildings are recently built and LEED Gold Certified in the case of the 4 towers of DoubleDragon Plaza while DoubleDragon East and West are currently pre-certified LEED Silver with above standard specifications. The buildings use LED lights and is partially powered by a solar installation located in its roof deck.

The location is walking distance to the LRT/MRT station and houses prominent tenants including the head office of the Tourism Infrastructure and Enterprise Zone Authority and the head office of the Philippine Economic Zone Authority. DD Meridian Park also includes two development properties, DoubleDragon Tower and Ascott-DD Meridian Park, which have been leased out to DD Tower Inc. and DDMP Serviced Residences Inc., respectively, on a long-term lease basis. The company said DoubleDragon Tower and Ascott-DD Meridian Park are potential expansion projects to add to its asset portfolio once cash flows from operations of these properties stabilize. The company expects its REIT to be listed at the Philippine Stock Exchange in February next year.

Meralco unit to offer solar solutions By Lenie Lectura @llectura

nphase Energy, Inc., a global energy management technology company and supplier of microinverter-based solar-plus-storage systems, has partnered with the renewable energy firm of the Manila Electric Co. (Meralco). Under the partnership, MSpectrum will distribute Enphase products to residential and commercial installers across the Philippines. The Enphase IQ 7TM family of products is expected to be available via MSpectrum starting in the first quarter of 2021. “We are proud to provide EnphaseEnergy seventh-generation microinverters in the Philippines,” said Robert Pereja, chief operating officer of MSpectrum. “This nextgeneration technology will benefit solar customers through its high performance, flexibility, reliability, and most importantly, safety, due to the rapid shutdown device (RSD) built into Enphase microinverters. We aim to work with Enphase to revolutionize the solar industry in the Philippines and motivate more Filipinos to shift from traditional to renewable sources of energy.”

Dave Ranhoff, chief commercial officer at Enphase Energy said the solar market in the Philippines has great potential for Enphase, particularly in the residential and small commercial rooftop market segment. “We believe Enphase’s unique value proposition of high-output performance and flexible installation, as well as a safe low voltage all-AC system architecture and rapid shutdown capability, resonates well in the Philippines solar market,” he said. MSpectrum will distribute the Enphase IQ 7 family of microinverters to residential and commercial installers. In addition, the solar systems will be outfitted with Enphase EnvoyTM communications gateways, which connect an Enphasebased solar system to the Enphase Enlighten software monitoring platform and help make per-panel energy monitoring and insights for operations and maintenance easy. The IQ 7 family of microinverters leverages Enphase’s unique software-defined architecture and semiconductor integration for excellent reliability and economies of scale. The design is compatible with operating in hot, humid and coastal conditions such as those found in the Philippines.

Malampaya achieves 8M safe man hours

HELL Philippines reported that it has accomplished its “no casualty” target for its Malampaya Deep Water Gas-to-Power Project while operating its facility since its inception in 2001. The Malampaya Onshore Gas Plant (MOGP) has achieved its 19th year of “Goal Zero” performance equivalent to 8 million safe man hours. Since it has caused no harm and no leaks across its operations, this means that there have been no incidents recorded across personal and process safety. Pioneering the natural gas industry in the Philippines, Malampaya paved the way for a sustainable and secure energy future for the country. It has so far supplied up to 20 percent of the national electricity requirements using indigenous resources, thus reducing the importation of oil—thanks to Goal Zero that has made it possible. “Goal Zero is the heart and DNA of our operations at Shell,” said Dingdong Altarejos, MOGP installation manager of Shell. “Whether we’re working with customers or on the field, we always think about how to avoid making a negative impact on communities. Though it’s unavoid-

able that we use up resources from the environment, there is a way to do it responsibly—and that’s what we strive for here at Malampaya.” Beyond this objective, Goal Zero is a mindset and lifestyle that is deeply-rooted in the work culture across Shell’s manpower—from regular staff and contractors, to technical and non-technical crew. Because Malampaya has a huge task to keep gas flowing on a daily basis, there are various components, equipment, and teams that need to work perfectly together, according to him. “With Goal Zero, there has to be a solid system in place so that we can monitor all moving parts and coordinate our efforts,” he said, while citing the importance of having meticulous processes to detect missions and leaks, as well as documenting every incident to identify areas of improvement. What make Shell’s safety and sustainability standards separate from other companies are its willingness to learn from past mistakes, openness to try and invest in new technologies, and investment in like-minded people with the same safety mindset. Roderick L. Abad

mutual funds

November 23, 2020

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 229.52 -8.95% -6.87% -1.14% -8.86% ATRAM Alpha Opportunity Fund, Inc. -a 1.2785 -13.5% -6.73% 0.99% -7.49% ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.1768 -16.21% -10.55% -3.27% -13.63% Climbs Share Capital Equity Investment Fund Corp. -a 0.7971 -11.71% -7.7% n.a. -11.24% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.7432 -12.52% n.a. n.a. -12.49% First Metro Save and Learn Equity Fund,Inc. -a 4.9816 -6.6% -5.2% -1.4% -6.51% First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.7726 -9.71% -7.21% n.a. -9.49% MBG Equity Investment Fund, Inc. -a 93.68 -15.06% n.a. n.a. -9.24% PAMI Equity Index Fund, Inc. -a 47.098 -8.32% -4.84% 0.22% -8.16% Philam Strategic Growth Fund, Inc. -a 493.79 -7.6% -4.77% -0.48% -7.32% Philequity Alpha One Fund, Inc. -a,d,5 1.0606 n.a. n.a. n.a. 2.96% Philequity Dividend Yield Fund, Inc. -a 1.1654 -9.91% -5.3% -0.15% -9.44% Philequity Fund, Inc. -a 34.678 -8.83% -4.69% 0.52% -8.49% Philequity MSCI Philippine Index Fund, Inc. -a 0.9257 -9.04% n.a. n.a. -9.08% Philequity PSE Index Fund Inc. -a 4.8151 -7.88% -4.24% 0.9% -7.82% Philippine Stock Index Fund Corp. -a 805.41 -7.68% -4.13% 0.8% -7.63% Soldivo Strategic Growth Fund, Inc. -a 0.7304 -16.73% -8.15% -3.21% -14.21% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.6446 -13.6% -6.4% -0.91% -13.41% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.9224 -7.93% -4.44% 0.69% -7.83% United Fund, Inc. -a 3.3317 -8.82% -3.92% 1.09% -8.8% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 108.234 -7.47% -3.83% 1.61% -7.46% Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b $1.1525 17.05% 0.6% 5.18% 12.07% Sun Life Prosperity World Voyager Fund, Inc. -a $1.5943 19.02% 8.55% n.a. 15.64% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.65 4.77% -3.18% -0.99% 5.58% ATRAM Philippine Balanced Fund, Inc. -a 2.2679 1.79% -1.94% 0.93% 3.98% First Metro Save and Learn Balanced Fund Inc. -a 2.6378 0.4% -1.07% -0.6% 0.24% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1999 -13.46% n.a. n.a. -12.52% NCM Mutual Fund of the Phils., Inc. -a 1.9681 0.43% 0.44% 1.97% 0.33% PAMI Horizon Fund, Inc. -a 3.8026 0.47% -0.27% 1.34% 0.36% Philam Fund, Inc. -a 17.007 0.45% -0.41% 1.27% 0.27% Solidaritas Fund, Inc. -a -1.51% -1.57% 1.16% -0.96% 2.1017 Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.5829 -7.14% -2.92% 0% -7.26% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 1.0239 1.1% n.a. n.a. 0.81% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.9547 -4.21% n.a. n.a. -4.19% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.9391 -5.5% n.a. n.a. -5.45% Sun Life Prosperity Dynamic Fund, Inc. -a 0.8905 -8.7% -3.66% -0.78% -8.65% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03916 2.65% 2.67% 2.01% 2.51% PAMI Asia Balanced Fund, Inc. -b $1.1116 10.72% 4.58% 9.84% 1.62% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.3245 12.82% 6.23% 6.54% 10.58% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.1941 7.09% 3.45% n.a. 5.79% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 369.66 3.73% 3.23% 2.76% 3.27% ATRAM Corporate Bond Fund, Inc. -a 1.8972 -1.51% -0.04% -0.01% -0.25% Cocolife Fixed Income Fund, Inc. -a 3.209 3.33% 4.62% 4.89% 2.92% Ekklesia Mutual Fund Inc. -a 2.2914 3.44% 3% 2.4% 3.06% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4508 4.49% 3.47% 2.12% 3.89% Philam Bond Fund, Inc. -a 6.56% 4.56% 3.05% 5.7% 4.6221 Philam Managed Income Fund, Inc. -a,6 1.3157 5.34% 4.4% 2.53% 4.69% Philequity Peso Bond Fund, Inc. -a 3.9736 5.57% 4.38% 2.83% 4.89% Soldivo Bond Fund, Inc. -a 1.037 8.55% 4.07% 2.51% 7.54% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1937 4.81% 4.77% 3.5% 3.84% Sun Life Prosperity GS Fund, Inc. -a 1.7465 3.8% 4.02% 2.9% 2.67% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $481.95 3.28% 2.67% 2.9% 2.9% ALFM Euro Bond Fund, Inc. -a Є218.42 -0.55% 0.78% 1.14% -0.62% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2635 4.94% 3.64% 4.66% 2.9% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0265 2.71% 1.96% 1.75% 2.71% PAMI Global Bond Fund, Inc -b $1.091 -0.43% 0.35% 0.87% -0.24% Philam Dollar Bond Fund, Inc. -a $2.523 5.29% 3.95% 3.57% 4.97% Philequity Dollar Income Fund Inc. -a $0.0620655 2.94% 2.59% 2.27% 2.93% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.2195 1.63% 2.18% 2.61% 1.4% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 129.5 3.3% 3.36% 2.55% 2.92% First Metro Save and Learn Money Market Fund, Inc. -a 1.0469 1.8% n.a. n.a. 2.01% Sun Life Prosperity Money Market Fund, Inc. -a 1.294 2.65% 2.99% 2.62% 2.29% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0514 1.55% 1.72% n.a. 1.26% Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 1.0742 n.a. n.a. n.a. n.a. Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $0.97 -2.02% n.a. n.a. -2.02% a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. d - in Net Asset Value per Unit (NAVPU). 1 - Launch date is September 28, 2019. 2 - Launch date is November 15, 2019. 3 - Adjusted due to stock dividend issuance last October 9, 2019. 4 - Renaming was approved by the SEC last October 12, 2018 (formerly, One Wealthy Nation Fund, Inc.). 5 - Launch date is December 09, 2019. 6 - Re-classified into a Bond Fund starting February 21, 2020 (Formerly a Money Market Fund). 7 - Launch date is July 6, 2020. "While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www. pifa.com.ph to see the latest NAVPS/NAVPU."

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Banking&Finance BusinessMirror

Elderly Pinoys invested via online hubs–RCBC By Tyrone Jasper C. Piad @Tyronepiad

ore senior citizens acquiring investments online amid the shift to digital banking transactions was a surprising turn of events, Rizal Commercial Banking Corp. (RCBC) said. The Yuchengco-led bank said in a statement on Monday that the clients above 60 years old are following the lead of the younger investors during the pandemic. RCBC Trust and Investments Group Head Robert B. Ramos said that the bank registered a whopping 336-percent surge in unit investment trust funds investors online. The end-to-end process of its UITF module in RCBC Banking Online covered the enrolment of new accounts, placements and redemptions. The increase in online UITF placements were mainly because of the young adult and the aged segments, accounting for 27 and percent and 11 percent of the total UITF online volume transaction as of July, respectively. Meanwhile, the UITF assets under management in all channels climbed by 56.98 percent as of July 2020 year-on-year. Ramos did not expect the increase in UITF clients among the senior citizen category because it was usually the young adult investors who are

the “most receptive to trying new technology.” “This is more anecdotal than anything because the story across different banks is the same,” the RCBC official said. “There is an opportunity but what we have is a digital channel that we can use to engage our clients and allow them to invest in our UITFs.” UITFs are pooled funds managed in-house and invested in various financial instruments. The initial placement for this investment is P5,000, RCBC said. Ramos shared that the bank is eyeing to offer more product offers to provide more investment options. At the same time, RCBC plans to improve its existing products and digital channels. “Clients need a partner who can quickly adapt to the ever-changing environment and during the pandemic, we have proven that we are capable of adapting to unexpected events and we can deliver apt and timely products and services,” he added. In the first nine months, RCBC registered net income of P4 billion, which was 11.3 percent lower compared to P4.5 billion in the previous year for the same period because of higher loan loss provisioning. Shares in RCBC climbed by 3.32 percent, or 62 centavos, to settle at P19.30 each amid the 0.12-percent rise for the main index on Monday.

Philippines plans to borrow more from South Korea

he Philippines is eyeing to secure an additional loan from South Korea, according to the Department of Finance (DOF). In a statement issued last Monday, the DOF said Finance Secretary Carlos G. Dominguez III expressed such plan during a recent lunch with South Korean Ambassador to the Philippines Han Dong-man. According to the statement, the Philippines plans to seek more financing support for projects on maritime safety, a water resources management information system, agricultural modernization and forest management. The DOF said Dominguez also sought South Korea’s support in establishing a framework agreement “that will provide a basis to process tied financing intended for the procurement of military equipment” for the Department of National Defense. Han was quoted in the DOF statement as saying that South Korea is always ready to assist the Philippines in implementing its development agenda and in extending support during emergencies such as the Covid-19 pandemic, given the strong ties and enduring friendship between the two countries. Han was said to have noted that the strong ties between the two countries have been cemented by the sacrifices of Filipino soldiers during the Korean War, which marks its 70th anniversary this year. The DOF statement said that Han also said South Korea is planning to expand business opportunities in the Philippines but expressed concern over the country’s high corporate income tax (CIT) rate of 30 percent. The DOF said it cited a pending proposal in Congress for an outright five percentage point CIT cut under the Corporate Recovery and Tax Incentives for Enterprises bill. The measure seeks to bring down the current 30 percent tax rate to 25 percent starting this year; and then reduce it by one percentage point annually until the rate goes down to 20 percent. Moreover, Han was quoted as saying that the two countries can

also explore a possible investment opportunity, particularly on the manufacture of environment-friendly vehicles, considering that the Philippines is one of the world’s biggest producers of nickel, which is a key component in making electric car batteries. South Korea and the Philippines are also in the final stages of negotiations on a free trade agreement (FTA), which will further expand trade and investment opportunities between the two countries, Han was quoted in the statement as saying. Dominguez reportedly said the Philippines is 100-percent behind the FTA as he underscored the Philippines’ strategic location in expanding Korea’s trade footprint in the $2.6-trillion Association of Southeast Asian Nations market. Last October 29, South Korea signed an agreement for a $100-million loan for the Philippines’ Covid-19 response program. Seoul has also extended its expertise and assistance in setting up an electronic invoicing system in the Bureau of Internal Revenue to improve tax administration. Early this year, it has also provided a $50-million loan to the Philippines-Korea Project Preparation Facility to help bridge operational gaps in implementing projects under the “Build, Build, Build” Program. It has also expressed its willingness to extend funding support to the PanayGuimaras-Negros Bridge Project in Western Visayas. South Korea is the country’s 5th largest provider of Official Development Assistance, with loan and grant commitments amounting to around $679.65 million or 2.59 percent of the country’s total ODA portfolio as of June 2020. Through the Korea ExportImport Bank- Economic Development Cooperation Fund, South Korea has likewise committed ODA loans to the Philippines in the amount of $631.77 million. South Korea is also the 9th largest provider of ODA grants to the Philippines, with a total of $47.88 million as of June this year. Bernadette D. Nicolas

Tuesday, November 24, 2020 B3

BSP policy move slashes T-bill rates; seen to stay downward

Lights illuminate the Bureau of the Treasury building in Intramuros, Manila. A strong demand for Treasury bills prompted the Treasury to open the tap facility for an additional P5 billion offering for 364-day T-bills during Monday’s auction.

By Bernadette D. Nicolas

@BNicolasBM

reasury Bills (T-bills) rates across the board further dropped days after monetary authorities further cut interest rates at levels not seen in the country’s monetary history.

The 91-day, 182-day and 364-day T-bills also fetched average rates that are lower than the previous auction and secondary market benchmark

rates. An economic recession also boosted demand for the government debt papers as the auction was oversubscribed by more than 3.7-times

with total bids reaching P73.4 billion. The strong demand also prompted the Treasury to open the tap facility for an additional P5 billion offering for 364-day T-bills. The tap facility auction is open to eleven government securities eligible dealers-market makers. National Treasurer Rosalia V. De Leon told reporters she expects rates to drop for short tenors moving forward following the 25-basis point cut by the Bangko Sentral ng Pilipinas in its main policy rate. The move pushed the country’s overnight reverse repurchase facility to its lowest at 2 percent. “Yes, rates will trend downward for short tenors fueled bias for front

end with high volume of liquidity,” De Leon said in a text message. The average rate for 91-day T-bills settled at 0.986 percent, falling by 3.3 basis points from 1.019 percent during the previous auction. Tenders for the security reached P18.85 billion, more than thrice the P5-billion offer. Meanwhile, the 182-day T-bills’ average rate went down to 1.385 percent, sinking by 5.8 basis points from 1.443 percent previously. Total bids for the tenor also amounted to P20.8 billion, four times as much as the P5-billion offer. Lastly, the 364-day T-bills’ average rate decreased to 1.695 percent, lower by 5 basis points from 1.745 percent previously. For this month, the Treasury has programmed to borrow P140 billion from the local debt market. The government has aimed to borrow a total of P3 trillion this year from both local and foreign sources to finance its spending requirements as well as to cover its budget deficit. It also aims to borrow the same amount next year. As revenue collections are down amid the pandemic, the Development Budget Coordination Committee is projecting the country’s budget deficit to more than double to 9.6 percent of gross domestic product (GDP) or P1.815 trillion this year from only 3.4 percent of GDP or P660.2 billion last year.

GSIS retains ISO certification amid lockdown

tate pension fund Government Service Insurance System (GSIS) announced it has maintained the International Organization for Standardization (ISO) 9001:2015 certification of its major processes after the remote surveillance audit last November 4. According to GSIS, TÜV Rheinland Philippines Inc. (TUV-R), one of the leading third-party ISO certifying bodies in the country, recommended the ISO recertification of the following major GSIS processes immediately following the wholeday remote audit: loans, membership administration, maturity claims, funeral benefit claims, motor vehicle

claim, data center facilities management, and marketing of non-life insurance. It was the first ever virtual ISO audit conducted in GSIS since the pension fund’s bid for ISO certification in 2015. “Managing to sustain an ISO certification [amid a lockdown against] a life-changing pandemic is a remarkable achievement. And doing it consistently for six years is no longer a mere act but a way of life. This means that through the years, the men and women of GSIS have maintained world-class service and professionalism despite the difficulties and uncertainties of the

Dollar falls to ’18 lows as vaccine progress fuels risk demand

he dollar dropped to a two-and-a-half year low as fast-tracked plans to roll out a coronavirus vaccine in the US bolstered appetite for risk assets. The Bloomberg Dollar Spot Index fell as much as 0.2 percent to an April 2018 low after US officials said vaccinations may start in less than three weeks. New Zealand’s dollar, the pound and the Norwegian krone led gains against the greenback in Asia trading Monday. “The vaccine news is favoring the view of a sooner-rather-than-later global economic recovery with the [US dollar] losing its safe haven appeal along the way,” said Rodrigo Catril, a currency strategist at National Australia Bank Ltd. in Sydney. “This is a risk-positive, [US dollar]-negative backdrop, especially with the Fed likely to remain ultra-dovish for some time.” The dollar has fallen more than 11 percent from its record high in March as investors cheer the prospect of a viable vaccine and prospects of improving global growth. Morgan Stanley recommends selling the dollar in favor of stocks and credit, while Goldman Sachs Group Inc. prefers shorting the US currency against developing nation peers including the Mexican peso and South African rand. “Fund flows are now showing the expected rotation into EM FX,” Goldman strategists including Zach Pandl wrote in a note. “We would be reluctant to back away from USD shorts with that important tailwind now in place.” Bloomberg News

times. I am truly proud of the GSIS Team’s unwavering commitment and dedication,“ GSIS President and General manager Rolando Ledesma Macasaet was quoted in the statement as saying. GSIS initially obtained its first ISO certification in 2015 when the certifying body conferred the ISO 9001:2008 for the pension fund’s quality management system (QMS) on loans processing. In 2016, GSIS gained ISO recertification for its loans processing system under the updated version, ISO 9001:2015. On the same year, the scope of certification was expanded to in-

clude membership administration. The two processes were recertified in 2017 when maturity claims and motor vehicle claims processing were included for the first time. By 2018, all four processes, plus the data center facilities management, have been certified. Funeral benefit and marketing of non-life insurance were the latest processes to be ISO-certified in 2019. “We assure our members and pensioners that we will cultivate the culture of excellence that we have nourished for several years and use it to adapt to the future challenges ahead with their welfare as our key priority,” Macasaet said.

Swedish bank that pioneered green bonds sets ultimatum for its clients

he Swedish bank that brought the first Green Bond to the world over a decade ago is now forcing corporate clients to prove they’re clean enough to stay on its books. SEB AB Chief Executive Officer Johan Torgeby, who spent years as a corporate banker pitching green bonds to issuers back when “no one” wanted them, says the bank will work with clients to improve their sustainability credentials. But if they don’t step up, he says SEB will sever ties. “You have very many long-term relationships,” Torgeby said by phone. “Today, you view those relationships in a different light than you might have done 10 years ago.” Though it’s not “an easy thing...you have to decide if you want to disengage completely.” SEB’s line in the sand comes as a growing number of banks review their loan books to purge their portfolios of polluters. And though the Swedish bank has gone further than most, growing pressure from investors and regulators suggests more lenders may follow. At the same time, European authorities are working on new reporting requirements that force firms to disclose risk measured in terms of environmental, social and governance goals. That will make it easier for banks to assess how clean their clients are.

ESG buzz

Since ESG became a buzzword in finance, Scandinavia has been at the forefront of the movement. Pension funds in the region, which manage about $1.3 trillion in combined assets, are driving the shift, while Norway’s $1.2 trillion sovereign wealth fund is also growing increasingly activist in the area. SEB, which is about 20 percent owned by the

investment vehicle of Sweden’s Wallenberg family, stands out as a pioneer in climate-friendly funding. Back in 2008, the bank arranged the first ever green bond, on behalf of the World Bank. Corporate clients were slower to catch on. Torgeby recalls spending the next six years, from 2009, “trying to convince corporates that there’s a new tool for capital out there which is earmarked for doing good.” He made clear they’d miss out on a financing opportunity if they didn’t issue them, but “for six years no one wanted to,” he said. Those clients now understand what’s at stake, and the market for ESG financing has exploded. A record $403 billion was raised in ESG bonds by governments and businesses this year, 70 percent more than in 2019. There’s also a growing number of instruments being designed to allow more issuers into the market, such as sustainability-linked debt and transition bonds. Torgeby says SEB is now looking for ways to help finance the United Nation’s 17 sustainable development goals to meet what he describes as “huge demand” from investors. That includes doing business with so-called brown and black industries such as oil, gas and shipping. Last year, the bank worked with Teekay Shuttle Tankers, which transports oil, on a green bond framework to invest in emission-reduction measures. The deal was “something that we debated and debated,” Torgeby said. In the end, SEB decided some progress is better than no progress. “If you want to take full responsibility for this very difficult problem, I think we need to say [that] we need some of these products that are harmful for some time to come,” Torgeby said. That’s even acknowledged in the Paris agreement on climate change, he said. Bloomberg News

Art

BusinessMirror

Tuesday, November 24, 2020 â&#x20AC;˘ Editor: Gerard S. Ramos

www.businessmirror.com.ph

Todayâ&#x20AC;&#x2122;s Horoscope

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LITHOGRAPH of Salvador Daliâ&#x20AC;&#x2122;s The Old Man and the Sea

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Sarah Hyland, 30; Katherine Heigl, 42; Colin Hanks, 43; Pete Best, 79.

â?ˇ LANDSCAPE

SCENE by Romeo Tabuena

HAPPY BIRTHDAY: Use your imagination. Look for alternative ways to use your knowledge, experience and skills to keep up with whatever is trending this year. Be a front-runner, step into the limelight and show off what you have to offer. Be a teacher and guide for those who look up to you. Youâ&#x20AC;&#x2122;ll gain respect if you are helpful and show concern. Your numbers are 6, 10, 18, 27, 34, 36, 43.

ARIES (March 21-April 19): Pick up the pace, follow through with your plans and refuse to let anyone or anything upset you. Stay focused on whatâ&#x20AC;&#x2122;s important, and put your energy and effort into preparing for the future, not fretting over the past. â&#x2DC;&#x2026;â&#x2DC;&#x2026;â&#x2DC;&#x2026;

â?ś

â?ˇ

Casa de Memoriaâ&#x20AC;&#x2122;s â&#x20AC;&#x2DC;Cuartoâ&#x20AC;&#x2122; auction curated for Christmas giďż˝t-giving, holiday home dĂŠcor SPANISH earthenware vase by Domingo Punter

UCTION house Casa de Memoria presents its fourth and final major auction for the year with a collection of Filipino and European pieces and objets dâ&#x20AC;&#x2122;art that are specially curated for the holiday season. A total of 180 lots will be put under the gavel for the event, titled â&#x20AC;&#x153;Cuarto,â&#x20AC;? billed as a holiday-special auction featuring art pieces and homewares ideal for gift-giving and holiday home dĂŠcor. Cuarto (www. casadememoria.com) is happening on November 28 at 2 pm. â&#x20AC;&#x153;We would like to usher in the holiday season and the new year with a hopeful outlook through our Cuarto auction,â&#x20AC;? said Palacio de Memoria General Manager Camille Lhuillier. â&#x20AC;&#x153;We hope to spark joy through unique pieces that are perfect tokens of appreciation for loved ones, and for sprucing up our

homes which serve as our sanctuary in these challenging times.â&#x20AC;? Part of the collection are paintings and lithographs by revered Filipino and European artists, from Fernando ZĂłbel de Ayala y Montojo to Pablo Picasso and Salvador Dali, among others. Available as well is a sketchbook of Filipino painter and printmaker Romeo Tabuenas, containing 66 of his personal drawingsâ&#x20AC;&#x201D;three of which are signed. In the recent Cuarto press preview, interior designer Chat Fores handpicked the lithographs of Daliâ&#x20AC;&#x2122;s The Old Man and the Sea and an untitled Zobel as â&#x20AC;&#x153;picture-perfect holiday gifts and enthralling additions to any home.â&#x20AC;? â&#x20AC;&#x153;When hung against a printed or black and white wallpaper, these lithographs will complement your area for your next in-person or online celebration,â&#x20AC;? she said. Fores also named her favorite decorative pieces and tableware. One is the Spanish earthenware vase by Teruel-based artist Domingo Punter. Another is

the 100-piece set of 20th century Czechoslovakian porcelain dinnerware, glazed in white with decoration of black and gray geometric shapes with silver-like edges. Meanwhile, the interior designer appealed to everyone to ditch an old and outdated practice. â&#x20AC;&#x153;Use your dĂŠcor,â&#x20AC;? she said. â&#x20AC;&#x153;Gone are the days that you put them in display cabinets. â&#x20AC;&#x2122;Di na uso â&#x20AC;&#x2122;yun. Use it na na.â&#x20AC;? Part of the proceeds from Cuarto will be donated to the Santa Ana Hospital in Manila for the maintenance of an enhanced quarantine facility for medical frontliners and Covid-19 patients. Casa de Memoria is open for an intimate auction preview for Cuarto until November 27 at Palacio de Memoria, located along Roxas Blvd. in ParaĂąaque City. Strict safety protocols are in place at the venue. Casa de Memoria lifestyle and brand consultant Monchet Olives said that the key point of their

CONTINUED ON B5

WWF-PH partners with local artists in latest fund-raising initiative ART aficionados are in for a special treat as the World Wide Fund for Nature (WWF) Philippines (wwf.org.ph) has launched â&#x20AC;&#x153;Earth Exhibitâ&#x20AC;?â&#x20AC;&#x201D;the organizationâ&#x20AC;&#x2122;s latest initiative, highlighting Filipino artistry while promoting environmental conservation. The event, which aims to raise funds to support WWFPHâ&#x20AC;&#x2122;s environmental frontliners in these challenging times and provide food assistance for 209 Dumagat families in Ipo Watershed, kicked off last October with Art Commissions for Nature, where the public availed art commissions from their chosen participating artist in exchange for their donation. This will be followed by Art Workshops this month, where partner artists will share their tips and tricks in a series of

four learning sessions. Capping off the event series is the Art Auction this December, where people can place their bids to take home specially-curated art pieces made exclusively for the initiative. Corinne de San Jose, one of the participating artists in this event, shared the role of art in promoting environmental protection and conservation. â&#x20AC;&#x153;Thereâ&#x20AC;&#x2122;s so much data available out there that proves the urgency to act on environmental protection and conservation. These are dire times. I think art has the power to interpret all this information and make it more accessible and personal to everyone. Art has the ability to create new ways of seeing or understanding, of attaching narratives to data, and narratives are powerful. Through narratives, we are able to connect,

empathize, convince people that itâ&#x20AC;&#x2122;s time to do everything we can to help the environment.â&#x20AC;? Also joining the event is Celeste Lecaroz, a local creative who believes that art can help uplift Filipino communities in these challenging times. â&#x20AC;&#x153;Art is one of the many tools that can help deliver this to the world. Through paintings, stories, songs, performances, illustrations and poems, members of communities can uplift one another and share to others lessons on environmental conservation and restoration,â&#x20AC;? the visual artist shared. Local art collectives Fringe Manila and Pineapple Lab have also pledged their support for the initiative as official media partners.

TAURUS (April 20-May 20): Welcome change into your life. Embrace new beginnings and challenges that excite you. Push yourself to the limit, and make improvements that build confidence and encourage you to go after what you want. Romance is favored. â&#x2DC;&#x2026;â&#x2DC;&#x2026;â&#x2DC;&#x2026;

GEMINI (May 21-June 20): What you do to help others will benefit you as well. Get involved in something you care about, and you will make a difference. Donâ&#x20AC;&#x2122;t shy away from adversity; stand up and be counted. Be part of the solution, not the problem. â&#x2DC;&#x2026;â&#x2DC;&#x2026;â&#x2DC;&#x2026;â&#x2DC;&#x2026;

CANCER (June 21-July 22): Look for a creative outlet or do something youâ&#x20AC;&#x2122;ve always wanted to do but never had the time or the confidence to pursue. Pour your energy into something that will help you grow personally or professionally. Embrace change. â&#x2DC;&#x2026;â&#x2DC;&#x2026;

LEO (July 23-Aug. 22): Soul-searching will lead to an effective plan. Refuse to let anyone else make up your mind for you. Stay strong, and do whatâ&#x20AC;&#x2122;s best for you. A change may not be welcome, but it will be to your advantage. â&#x2DC;&#x2026;â&#x2DC;&#x2026;â&#x2DC;&#x2026;â&#x2DC;&#x2026;â&#x2DC;&#x2026;

VIRGO (Aug. 23-Sept. 22): Take action and get involved, and positive change will lead to opportunity. Look at what youâ&#x20AC;&#x2122;ve accomplished, and proceed to make slight adjustments to ensure you continue to excel. A shift in the way you expand your interests, skills and knowledge will pay off. â&#x2DC;&#x2026;â&#x2DC;&#x2026;â&#x2DC;&#x2026;

LIBRA (Sept. 23-Oct. 22): Put more effort into partnerships and maintaining equality. Donâ&#x20AC;&#x2122;t let anyone take advantage of you or put you in an awkward position. Diplomacy will help you outmaneuver anyone who gets in your way. Set a goal, and finish what you start. â&#x2DC;&#x2026;â&#x2DC;&#x2026;â&#x2DC;&#x2026;

SCORPIO (Oct. 23-Nov. 21): Uncertainty will prevail if you arenâ&#x20AC;&#x2122;t vocal about how you feel or what you want. Positive change will be the direct result of how you handle others. An adjustment to a relationship can benefit both parties. Propose something unique. â&#x2DC;&#x2026;â&#x2DC;&#x2026;â&#x2DC;&#x2026;â&#x2DC;&#x2026;â&#x2DC;&#x2026;

SAGITTARIUS (Nov. 22-Dec. 21): Clear a space that you can use to better yourself. Keeping busy will boost your morale and help clear your head. Be diplomatic, but donâ&#x20AC;&#x2122;t let anyone talk you into doing or believing something that isnâ&#x20AC;&#x2122;t true or in your best interest. â&#x2DC;&#x2026;â&#x2DC;&#x2026;

CAPRICORN (Dec. 22-Jan. 19): Youâ&#x20AC;&#x2122;ll get an added push that will help you take care of business. Youâ&#x20AC;&#x2122;ll develop an incredible plan that will make your life more comfortable at home and work. Time spent with someone you love will improve your relationship. â&#x2DC;&#x2026;â&#x2DC;&#x2026;â&#x2DC;&#x2026;â&#x2DC;&#x2026;

AQUARIUS (Jan. 20-Feb. 18): Use your charm, experience and energy to get where you want to go. A chance to get ahead financially is within reach as long as you invest your time and effort in yourself. â&#x2DC;&#x2026;â&#x2DC;&#x2026;â&#x2DC;&#x2026;â&#x2DC;&#x2026;

PISCES (Feb. 19-March 20): Compliments will come your way, but before you fall prey to someoneâ&#x20AC;&#x2122;s charm, consider if there are ulterior motives at play. Verify facts, and stick to tried-and-true methods, and you will do just fine on your own. â&#x2DC;&#x2026;â&#x2DC;&#x2026;â&#x2DC;&#x2026; BIRTHDAY BABY: You are expressive, resourceful and proactive. You are flexible and helpful.

â&#x20AC;&#x2DC;tongue-tiedâ&#x20AC;&#x2122; BY PAUL COULTER The Universal Crossword/Edited by David Steinberg

ACROSS 1 Boost up 5 Salt-N-___ (hip-hop group) 9 Alternative to steps 13 A lot of lot? 14 Regrets 15 000 16 Stream outward (French: letters 1 to 4, English: 5 to 7) 18 000 19 Stealthy eBay bidder 20 â&#x20AC;&#x153;Cogito ___ sumâ&#x20AC;? 22 Roulette transaction 23 Approx. 24 Battery size 26 What a sleeve covers 27 A Man for All Seasons man (Spanish: 7 to 9, English: 10 to 13) 34 Cabooseâ&#x20AC;&#x2122;s position 36 Reaction to a foot rub 37 Like the Six Million Dollar Man 38 God, in Islam 40 â&#x20AC;&#x153;Ciao!â&#x20AC;? 42 â&#x20AC;&#x153;But of course!â&#x20AC;? 43 Colonel Sandersâ&#x20AC;&#x2122; beard 45 Spanish for â&#x20AC;&#x153;goldâ&#x20AC;?

47 Nickname that drops â&#x20AC;&#x153;doreâ&#x20AC;? 48 In plain view (English: 7 to 9, French: 10 to 12) 51 Lionâ&#x20AC;&#x2122;s home 52 Alto or tenor instrument, informally 53 Consumes 56 â&#x20AC;&#x153;Steady as ___ goesâ&#x20AC;? 59 Where Eve lived 61 Latin phrase meaning â&#x20AC;&#x153;from the beginningâ&#x20AC;? 63 Devotee 65 Fluent in two languages, or like each starred answerâ&#x20AC;&#x2122;s pair of hidden words? 67 Signs that may bring bad luck 68 Frozen treat 69 ___ buco 70 Care for, as a garden 71 Camping shelter 72 Complete collections DOWN 1 Run out, like a subscription 2 Desktop pictures 3 One might contain grapes and blueberries 4 Maryland athlete, for short

5 6 7 8 9 10 11 12 15 17 21 25 28 29 30 31 32 33 34 35 39 41 44 46 49 50

Proportionately The â&#x20AC;&#x153;Eâ&#x20AC;? of EU: Abbr. Buttigieg from South Bend Guruâ&#x20AC;&#x2122;s retreat Gun, as an engine Kuwaiti, e.g. Tunneling animal â&#x20AC;&#x153;Check this out!â&#x20AC;? Gets a closer shot Glossophobia, for public speaking Seize Moby-Dick captain About to explode â&#x20AC;&#x153;What a kidder!â&#x20AC;? Castle protectors Free of charge Houston university Lingering sound effect Big name in sauce The Boring Company founder Musk People who have stock? Blows it Sized up visually Having fewer snacks, maybe At all Beasts of burden

54 55 56 57 58 60 62 64 66

â&#x20AC;&#x153;Halt!â&#x20AC;? to a salt Flies alone Coin opening â&#x20AC;&#x153;Where the heart isâ&#x20AC;? Like the score 20-20 â&#x20AC;&#x153;Good going!â&#x20AC;? Grps. like Amnesty International December 31, for 2020 Cariou of Blue Bloods

Solution to Fridayâ&#x20AC;&#x2122;s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

NY’s Andrew Cuomo to receive International Emmy for virus briefings ALBANY, New York—New York Gov. Andrew Cuomo is set to soon receive an International Emmy award for his once-daily televised briefings on the coronavirus pandemic that killed tens of thousands of New Yorkers this spring. The International Academy of Television Arts & Sciences, whose members include media and

entertainment figures from over 60 countries and 500 companies, announced Friday it plans to present the award to the Democratic governor in a live-streamed show on Monday. International Academy President and CEO Bruce L. Paisner said Cuomo is being honored with the academy’s Founders Award for using his briefings to inform and calm the

public. Previous recipients include former Vice President Al Gore, Oprah Winfrey, and director Steven Spielberg. “The governor’s 111 daily briefings worked so well because he effectively created television shows, with characters, plot lines, and stories of success and failure,” he said. “People around the world tuned in to find out what was going on, and New

York tough became a symbol of the determination to fight back.” Cuomo used his more than 100 Powerpoint-driven slideshows and his sometimes emotional, sometimes acerbic style to provide daily updates and detail his administration’s efforts to shutter the economy and avoid predictions of as many as 100,000 people hospitalized at once. AP

Editor: Gerard S. Ramos

• Tuesday, November 24, 2020

CASA DE MEMORIA’S ‘CUARTO’ AUCTION CURATED FOR CHRISTMAS GIFT-GIVING, HOLIDAY HOME DÉCOR Continued from B4 auctions, embodied by pieces of important provenance and quality craftsmanship, is that they don’t make them like they used to. “In every auction, the 180-200 pieces that we choose are of more or less the same provenance,” he said. “You will always find a touch of ivory, sterling silver, porcelain and some unique ‘lifestyle pieces’. But every auction is unique; we don’t repeat. We’ve been doing this for five years, and, 25 auctions later, we’ve had quite a good pickup in building the market.” n

Rachel Maddow returns to air, describes partner’s virus bout

SB19 flies high with global virtual concert

HE most popular boy band in the country has made the global audience take notice of its class act. The all-Filipino male vocals group SB19 made music history recently when they held their first-ever virtual concert with an international audience. The concert was made possible through Global Live, an Australian-based streaming platform that collaborated with the group’s Korean management team Show BT for this milestone project that was made available to the world except two countries, China and Indonesia. Their fans all over the world doled out an amount equivalent to 15 Australian dollars for a ticket, or

approximately P550. For those who are curious, the SB in SB19 stands for “sound break,” considered a feat of the Korean company which broke into the Philippine music market, and the number 19 is the mathematical difference of the country codes of Korea (82) and the Philippines (63). Show BT, headed by its Philippine CEO Charles Kim, chose the five members and meticulously trained them in the K-pop way in all aspects of live performance, and successfully transformed them into the musical sensation they are today. SB19 is the first Filipino act to have figured in Billboard’s Social 50 chart, and also topped the Next Big Sound chart, making the local group a musical force to reckon with in the international scene. The concert peaked with every production number, with the group churning out signature hits and songs from its very successful debut album Get in the Zone. Social media burst with tweets from fans, as they entertained the international online audience with songs like “Go Up,” “Alab,” “Tilaluha,” “Hanggang sa Huli,” the upbeat electronic dance music version of “Love Goes” and more. SB19 members Sejun, Stell, Ken, Josh and Justin spoke to a select group of media friends a few days

before this concert and shared that the preparation was rigorous, and the creative and technical experts involved in this special virtual show were very strict and uncompromising. “Every little detail is important. Every dance move, every phrasing, our volume of voice and sound, everything should be in sync because it is so different from a concert at a venue with a live audience,” shared Ken. Sejun added, “We are performing live in front of hi-tech cameras, and we have to master and warm up to this new normal in live performance. Of course, we have to consider also that we will be seen around the world, so we are carrying the Philippine flag in every number. It’s both a humbling and proud moment!” After the concert, the adrenaline was still very high and reverberated in tweets from all over the world, and it just shows that the hard work of SB19 paid off and their talents are now recognized worldwide. The virtual concert was directed by Calvin Murphy Neria, who said that it was indeed a dream come true for him to be able to call the shots for the much talked-about livestream concert of the SB19. “It was a truly good day to be a Filipino,” enthused Neria, “The Philippines’ SB19 is simply world-class!” n

‘My Korean Jagiya’ returns to prime time RELIVE the ultimate fan-girl experience as GMA’s first-ever Filipino-Korean romantic comedy series, My Korean Jagiya, returns to the network’s prime-time block. It airs after the local retelling of the hit K-drama Descendants of the Sun. Headlined by Heart Evangelista, the series follows the story of Gia, a grade-school tutor and a hopeless romantic who is often teased that she is next in their family to become an old maid. She is also a selfconfessed K-drama fan girl determined to meet her long-time crush, Korean superstar Kim Jun Ho. But Kim Jun Ho, portrayed by Korean star Alexander Lee Eusebio, has mysteriously fallen off the radar and stepped out of the limelight at the height of his career. An unfortunate incident brings the two of them together and they eventually become friends. But for Gia, Jun Ho will always mean something more. Are some dreams just too good to be true? Heart shared that she’s excited for viewers to again catch My Korean Jagiya, the rerun of which began Monday: “We really need to watch something that will make us feel happy, pampalipas-oras because a lot of people are at home. And at the same time, I’m happy

LOS ANGELES—Rachel Maddow made an emotional return on Thursday to her MSNBC show, saying her partner’s bout with Covid-19 was so serious they thought it might kill her. Maddow has been off the air for roughly two weeks since disclosing she had been in close contact with someone who tested positive for the coronavirus. Maddow didn’t disclose who it was at the time, but said on Thursday evening it was her partner, Susan Mikula. “At one point, we really thought it was a possibility it might kill her and that’s why I’ve been away,” Maddow said. “She is the center of my life,” she added. Maddow said her partner is recovering and will be OK, but that it didn’t seem that way at the outset of her illness. Maddow said she’s tested negative so far for the virus. She is the host of MSNBC’s most-watched show and did the broadcast from inside her home, encountering some technical difficulties before laying out their coronavirus experience. “Don’t get this thing. Do whatever you can to keep from getting it,” Maddow said. “For Thanksgiving next week, you really are just going to have it at home without people coming over.” Maddow said her quarantine would end soon, but she’d be “broadcasting like this until it’s safe for me to be around my coworkers.” Maddow is one of the prominent personalities who made Out magazine’s 2020 Out100 list, along with award-winning singers Lizzo and Janelle Monae, and Apple CEO Tim Cook. Pride Media announced on Thursday that its annual list honoring the 100 most influential LGBTQ+ people of the year includes 99-year-old trans WWII US Navy fighter pilot Robina Asti, comedian Wanda Sykes, fashion icon André Leon Talley, the creators of Queer Eye, Black Lives Matter Toronto cofounder Janaya Khan and actors Jameela Jamil, Wilson Cruz, Keke Palmer, Jeremy Pope and Joe Mantello. Honorees were celebrated on Saturday at the first 2020 Out100 Virtual Honoree Induction Ceremony, which was streamed live at Out.com/Out100Live. Others who made this year’s list include Donald Trump’s niece, the psychologist and author Mary Trump, former baseball player Billy Bean, teen rapper Kidd Kenn and actors Lili Reinhardt, Cheyenne Jackson, Jonathan Bennett and Dashaun Wesley. Several members of President-elect Joe Biden’s team made the Out100 list, including Jamal Brown, Reggie Greer and Karine Jean-Pierre. AP

STREAM WORLD-CLASS CONCERTS THIS DECEMBER

because what we worked hard to make a good series, and what we enjoyed doing before, we can watch and experience again. It’s so exciting!” Alexander affirmed her sentiments, adding that the series could bring a smile to people’s faces: “I believe this is the perfect time to watch My Korean Jagiya again. Watching it again could definitely put a smile on people’s faces and perhaps give them some comfort, happiness, and definitely some kilig, too. Hope everyone could stay safe at home and enjoy My Korean Jagiya again.” Also starring in the series are Janice de Belen, Ricky Davao, Iya Villania-Arellano, Edgar Allan Guzman, and Valeen Montenegro, with the special participation of Korean stars David Kim, Michelle Oh, and Jerry Lee. Joining them as well are Frances Makil Ignacio, Myke Solomon, Jinri Park, Divine Aucina and Khaine dela Cruz. Award-winning director Mark Reyes helms this series, which was partly shot in some of South Korea’s most scenic spots that are often used in famous K-dramas, including Nami Island, Namsan Park, Love Padlocks at N Seoul Tower, and Daejanggeum Park.

WHAT better way to spend weekends than a back-to-back musical salvo featuring some of the most respected personalities in the local music industry in Aegis na Aegis: A Story of Us, and Ogie and the Hurados 1 at the comfort of your homes this December via the online streaming platform www.ktx.ph. The iconic OPM band Aegis will take audiences on a rock journey down memory lane once again with Aegis na Aegis: A Story of Us just as they rocked Resorts World Manila’s Newport Performing Arts Theater back in 2017. The show also features The Draybers frontman and The Voice of the Philippines winner Mitoy Yonting. Presented by Resorts World Manila (RWM, www.rwmanila. com) in cooperation with Full House Theater Company and Ultimate Shows Inc., Aegis na Aegis will be available via online streaming on the following show dates: December 4, 8 pm; December 5, 5 pm, 8 pm and 11 pm; and December 6, 3 am, 8 am and 11 am. Highlighting the many accomplishments of Ogie Alcasid and the Hurados over the years, Ogie and the Hurados, which was held at RWM’s Newport Performing Arts Theater in 2019, features the most iconic and recognizable Hurados in It’s Showtime’s reality talent search “Tawag ng Tanghalan” led by Zsa Zsa Padilla, Randy Santiago, K Brosas, Karylle, Jed Madela and Rey Valera. Presented by RWM, also in cooperation with Full House Theater Co., A-Team and Ultimate Shows, Ogie and the Hurados will be available online on December 11, 8 pm; December 12, 5 pm, 8 pm and 11 pm; and December 13, 3 am, 8 am and 11 am. Tickets for both shows are now available via www.ktx.ph. The early-bird rate is only P600 for Aegis na Aegis: A Story of Us until November 26, and for Ogie and the Hurados until December 3. Regular ticket price is at P750.

B6 Tuesday, November 24, 2020

Coca-Cola beverages delivery within a click’s reach

Taiwan Excellence features smart tools for automotive manufacturing

AIWAN Excellence, an international campaign to promote Taiwan's superior products, hosted “Taiwan Excellence Smart Machine Tools for Automotive Manufacturing Online Products and Solutions Launch” recently. To help global buyers familiarize themselves with Taiwan Excellence Smart Machinery products and solutions, four companies representing the industry, namely: SEYI, Jainnher, YDPM and Tongtai, showcased their latest products and solutions, including servo presses, grinding machines, digitally-controlled machine tools, and industry 4.0 solution for automotive manufacturing. Seyi, one of the largest servo press makers in Taiwan, introduced the applications of servo presses in hot stamping procedure for medium and large lightweight auto parts manufacturing, which comply with and

meet the trend and application of steel parts with light weight but high tensile strength in the modern automotive industry and effectively strengthen the structure of automobiles. Jainnher, which specializes in grinding machines, introduced all kinds of grinding solutions for key engine and gearbox parts such as gears, shafts, bearings, etc., and further improve the precision of the parts and the efficiency of product lines through the company’s digital control and shock absorbing techniques. YDPM submitted its compete processing solutions for automotive parts. With its lathe machines and machining centers, the company assists buyers build up high efficiency, high accuracy, and high flexibility product lines, and help them produce all kinds of automobile parts with superior quality. Finally, Tongtai’s intelligent manufacturing solution integrates

different applications and uses multiaxis machines to make the production line more compact and efficient. The solution achieves digital-twin and cyber-physical qualities, and assists automotive makers to manage production resources more easily. Simon Wang, Executive Vice President of Taiwan External Trade Development Council (TAITRA), stated that the economy froze in the first half of the year because of the pandemic, and made a deep impact on the world’s industries, which made manufacturers accelerate to import automation, and focused their vision on new technology development such as Electric Vehicles (EVs), as their response to future trends. “And since the global economy is starting to rise, we believe that automotive manufacturing and machine tools industry will recover soon.” Mr. Wang also introduced the “Anti-COVID-19 Online Pavilion” in the webinar. The site shares Taiwan’s experience and expertise on fighting the pandemic, and introduces Taiwan’s medical products, which allow global visitors to find suitable solutions that would protect themselves during the pandemic. Besides Taiwan Excellence events, TAITRA will also hold TIMTOS 2021 on March 15-20, 2020 to show global buyers the latest smart manufacturing solutions with innovative automation and industry 4.0 concepts. Visit https://www.timtos.com.tw/ for more information. To re-experience the press conference, visit: https://reurl. cc/3Lkgk8, or https://youtu.be/ Kg7g0W4bH1g.

Megaworld Lifestyle Malls, The Medical City step up partnership for safe holiday shopping and celebration

OCA-COLA Philippines has extensively scaled up its e-commerce presence to better respond to consumers whose needs and shopping behavior have altered due to the COVID-19 pandemic. With transportation and mobility affected, the Company has ensured that it can continue to serve people with its portfolio of beverages just a few clicks away. Coca-Cola’s e-commerce website — www.CokeBeverages.ph—was first launched in 2015. To meet the constraints of the pandemic and to adapt to homebound Filipinos’ needs, the Company accelerated its digital and e-commerce roadmap — strengthening existing infrastructure and opening new channels to connect with the market. Thus, demonstrating agility as a total beverage company, with consumers always top of mind. “Shoppers of all ages are ordering via their phones and computers, out of necessity. They are now purchasing differently, given the increased need in convenience,” said Kichi Roxas-Chua, Digital Shopping Marketing Manager of Coca-Cola Philippines. The Company observed that lockdowns in many areas in the country have triggered a digital buying wave, with the emergence of contactless shopping options including “click-andcollect” or curbside pickup, takeout and delivery for restaurants, e-grocery shipments, and more. Along with strengthening the capabilities of www.CokeBeverages. ph, the Company has also ramped up collaborations with food aggregators and other e-commerce partners such as Grab, Lazada, Great Deals, Metromart, and Lalamart—maximizing ways to offer products while offering better deals to consumers, as with new packaging options like convenient multipacks and combos. “Digital commerce is a fast-evolving space, and as a Company we have to be agile and quick to adapt and evolve—to meet new variables affecting the market, and most importantly to cater to our customers,” said Katie Li, Commercial Digital Marketing Manager of Coca-Cola Beverages Philippines, Inc. (CCBPI), the bottling arm of Coca-Cola in the country. She added that Coca-Cola is exploring various business models to further push e-commerce in the business-to-business (B2B) space.

Happiness on Demand

COCA-COLA’S strengthened digitalization includes its expanded home delivery service called Happiness on Demand (HOD), which allows consumers spanning Nueva Ecija to Metro Manila to Batangas to order CocaCola products via call or SMS and have it delivered straight to their doorstep. Happiness on Demand had catered to a good mix of households and office spaces—but, from the initial impositions of community quarantine, the Company saw a massive shift of HOD’s primary market to households. Distribution channels, which had primarily catered to water deliveries, also needed to widen their scope, as more products from the portfolio saw more significant demand in online platforms. Joseph Crisol, Senior Manager of Emerging Channels at CCBPI shares “This market shift necessitated a quick recalibration of our Happiness on Demand business model to service multiple dropoff points, as well as the improvement of the logistics capacity of delivery partners. We had to ensure that we adapted quickly so we could provide a better service model for our partners and customers”. Additionally, the beverage brand has been working together with partners to boost their capabilities to adapt to the new normal, expanding product knowledge through understanding current market information and data, and purchase patterns and trends. With this, Coca-Cola’s partner distributors have harnessed the huge potential in the HOD market—and this has helped them further grow their business in an otherwise difficult time. For more information, visit www. CokeBeverages.ph. For Happiness on Demand inquiries and orders, please contact +632 8 813-2653 or SMART/ PLDT Toll Free Hotline: 1-1800-18882635; GLOBE Toll Free Hotline: 1-800888-2635.

Pinoys unite for Brand Aid: Noche Buena Para sa Lahat

AT THE TURNOVER CEREMONY WERE REPRESENTATIVES FROM TMC led by Atty. Martin P. Samson, chief operating officer, and Lawrence Sibayan, AVP - Relationship Management & Business Development, who turned over the sanitation modules. The sanitation modules were received by Graham M. Coates, head of Megaworld Lifestyle Malls, and Tefel Pesigan Valentino, vice president and head of Marketing and Business Development of Megaworld Lifestyle Malls.

EGAWORLD Lifestyle Malls and The Medical City (TMC) are stepping up their partnership and commitment to ensure a safer and happier malling experience for mall guests this Holiday season. A ceremonial turnover of sanitation modules was held recently at the Eastwood Mall Atrium, signalling a more intensified collaborative effort between the two companies towards ensuring the safest shopping environment possible in time for the Holiday rush. The modules contain medicallyapproved and recommended sanitation best practices that are now being strictly implemented across Megaworld’s 20 lifestyle malls in the country, particularly in its partner restaurants, retail outlets, cinemas, indoor amenities and outdoor common areas. Following the program, the executives conducted a brief mall inspection to oversee the implementation of sanitation measures across the mall and retail establishments. The turnover ceremony builds on Megaworld Lifestyle Malls’ collaboration

with the premier medical network in June to intensify mall safety and sanitation standards and ensure strengthened protection of mall customers. Under the collaboration, The Medical City created comprehensive mall sanitation protocols that are supported by medical industry insights, including standards in general prevention measures such as hygiene, social distancing and temperature check; environmental cleaning and disinfection; and waste disposal efforts. Megaworld Lifestyle Malls also conducted medical and technical consultation with The Medical City to ensure that its safety measures are up-to-date. Mall staff and employees participated in online and on-site technical training to ensure that they correctly and consistently implement mall sanitation, disinfection and infection control guidelines. The strengthened partnership for a #SaferAndHappier malling experience of Megaworld Lifestyle Malls and The Medical City aims to captivate and encourage mall-going customers to

embrace the new normal with a sense of hope, unity, and happiness while practicing extra precautions, and assure the public that it is safe to visit malls and in-mall clinics alike. “One of the most important things that we have in our malls is consistency. And the consistency to implement world standards in mall sanitation is very important to us. With our partnership with The Medical City, we now have upgraded standard procedures that will enable us to make sure the mall is compliant in every aspect of the mall shopping experience,” Mr. Coates said. “Megaworld Lifestyle Malls and The Medical City both share the same passion for caring for the people whom we serve. We at The Medical City believe that it is a good partnership and advocacy, both for the malls and for the hospital,” Atty. Samson said. To know more about Megaworld Lifestyle Malls’ extra steps to ensure a #SaferAndHappier dining and shopping experience, check out http:// saferandhappieratmegaworld.com/ or call our hotline at 8-462-8888.

HRISTMAS is one of the most significant celebrations in the Philippines. And one of its highest points is the Noche Buena, where families come together to share stories of love and hope over their favorite Filipino meal. But this year, Christmas will be different for millions of Filipinos due to the Covid-19 pandemic. It is estimated that 7.6 million Filipino families went hungry during the crisis, going below poverty line and experiencing “involuntary hunger.” Most of these families may not be able to afford to put food on the table or even think of preparing Noche Buena. And because of this, Unilever Philippines, RFM Corporation, Dole Philippines, Century Pacific Food, Inc., and Lazada have come together to offer some respite for Filipino families that are part of this staggering statistic. Together with Rise Against Hunger Philippines—an international hunger relief organization—the brands are launching an initiative called Brand Aid: Noche Buena Para sa Lahat. It is the first ever collaboration of some of the biggest food companies in the Philippines to spark hope and bring Noche Buena to Filipino families in need. The companies commit to work with each other, and together with other sectors of society, to actively advocate for a Philippines that is free from hunger. And through Brand-Aid: Noche Buena Para sa Lahat, they embark on this journey with a pledge of 70,000 Noche Buena kits for Filipino families, including those affected by the recent calamities. “We see and experience the reality of hunger every day through the communities we serve. In their mission to spark hope through Noche Buena meals for this Christmas,

Brand Aid sends a clear message that businesses, the government, and everyday people can come together to rise against hunger. We are happy to continue the fight with them, and we hope to encourage others to support Brand Aid,” shares Jomar Fleras, Executive Director, Rise Against Hunger Philippines. Brand Aid forms part of the group’s support to the advocacy of Pilipinas Kontra Gutom, a movement under the government’s Task Force Zero Hunger led by Cabinet Secretary Karlo Nograles. The companies behind Brand Aid also bring in their network of creatives, event specialists, media groups, artists, influencers, and social communities led by MullenLowe MARC, Mindshare, Yaparazzi Events + PR, Activations Advertising Inc., Shoppertainment LIVE, Petch & Partners, PHD Media Network, Get Hooked 360, Slingshot Manila, Hit Productions, Film Pabrika Inc., SilverPush, Innity, Passionation, Viva Communications, Inc, Viu Philippines, Philippine Star, Facebook, ABS-CBN, GMA and TV5 to bring the advocacy to more Filipinos who want to be part of this worthy cause. Through Brand Aid, companies and individuals can also sponsor a family’s Noche Buena via special kits available at Lazada for only PHP 300. These Noche Buena kits contain ingredients to create traditional Christmas dishes, helping Filipino families continue a beloved tradition and strengthen bonds despite these difficult times. The Brand Aid: Noche Buena Para sa Lahat kits2 are available for donation through Rise Against Hunger at lzd. co/BrandAid.

Sports BusinessMirror

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

WRIGHT ON TARGET

PSC to pay P304M debts

HE Philippine Sports Commission (PSC) assured its readiness to pay off all its obligations still outstanding to various parties arising from the staging of the 2019 Southeast Asian Games by December 15. The total obligations were estimated at P304 million as of October 31. The assurance was conveyed through Senator Juan Edgardo Angara during a Senate budget hearing where sports officials affirmed they will settle the debts to suppliers incurred in hosting the SEA Games in December last year. PSC officials explained they were just attending to the paperwork so that payments can be expedited to all parties they owe money to. The PSC also informed Angara that some P6.8 billion was spent by the government for the SEA Games hosting, where the Philippines emerged as overall champion. Meanwhile, officials vowed to finish the agency’s financial report before year-end. Butch Fernandez

By Josef Ramos

ATTHEW WRIGHT has his sights set at the bigger picture, if not the biggest— Phoenix Super LPG making its first Finals appearance in the Philippine Basketball Association (PBA). Wright and the Fuel Masters moved one win away from advancing to the Philippine Cup Finals after beating the TNT Tropang Giga in Game 3, 92-89, on Sunday night at the Angeles University Foundation gym. Phoenix leads the best-of-five series, 2-1. “The job isn’t done yet. We still have a bigger goal. We don’t want to just make it to the Finals, we want to win the championship,” said Wright, who scored 25 points

including a tough turnaround jumper that kept his team in control in Game three. Wright is playing through pain after spraining his right ankle in Game One which they lost, 95-92. His teammates stepped up it to win Game Two, 110-103, to tie the series before winning Game 3 that put the four-year-old franchise on the verge of advancing to the Finals for the first time. “Just a little sore,” he said, referring to his ankle. The 29-year-old Wright wanted the Fuel Masters to be as successful in the league, just like the team’s mother company owned by businessman Dennis Uy in the fuel industry. “We just have to take care of business and prove to the country, prove to the fans that Phoenix is an underdog—that we want to be taken seriously,” Wright said. “Just like Sir Dennis [Uy], he’s an underdog in business and he brought the Phoenix organization from nothing.” “I think we are like second or third biggest [gas station] in the country now, so it’s going to be the same thing for his basketball team,” he said. “We want to prove to everyone

PHOENIX Super LPG’s Matthew Wright in action against TNT Tropang Gigas’s John Paul Erram.

PLDT, Smart power Gilas in Asia Cup qualifiers LDT and its wireless arm Smart Communications Inc. are supporting a young Gilas Pilipinas team with connectivity in the International Basketball Federation Asia Cup 2021 Qualifiers in Manama, Bahrain.

Tuesday, November 24, 2020 B7

Gigaroam will power the team members’ data roaming connectivity in Bahrain. With Smart’s global coverage and flexible data roaming plans, the team will be able to stay online, accessing their favorite apps, sites and connect with their fans on social media. Available all over the world, Gigaroam gives roaming access to travelers with data plans in 1GB, 3GB, 8GB and up to 100GB (in some

countries) valid from five to 30 days. The players and coaches will also enjoy 100 minutes of on-net calls to their relatives back home via Free Bee powered by PLDT Global. Available in over 180 countries, the internationally recognized ad-sponsored VoIP solution bridges the distance between Filipinos overseas and their families through high-quality IDD calls to the Philippines for free.

“We just want to wish the whole Gilas team good luck. You make our country proud and Smart is behind you, keeping you connected throughout your travels,” said Alice Ramos, Vice President for International Roaming and Consumer Business at Smart. Alfredo Panlilio, PLDT Chief Revenue Officer and Smart President and CEO, thanked the Inter-Agency Task Force on the Management of Emerging Infectious Diseases and the Philippine Sports Commission for allowing the team to travel abroad. “There were travel restrictions and issues

that we’re a serious team to contend with in the future, just like our Boss.” Wright also praised his teammates especially Calvin Abueva and Head Coach Michael Christopher “Topex” Robinson for their hard work this season. “We are excited, obviously we just want to finish them off. We feel like they have a lot of pressure on them from management,” Wright said. “We feel we don’t have any pressure at all. So we’re just out there having fun, try to be better each game. “We’re starting to hit our stride especially with Calvin and Alex [Mallari]. We just have our second wind,” he added. Abueva continued to be in his elements coming out of suspension. He had 20 points, 15 rebounds and four assists in Game Two and racked ip 25 points, 14 rebounds, six assists and four steals in Game Three. But Wright expects TNT to throw its best punch in Game Three set for Wednesday at 6:30 p.m. “I think for sure Jayson Castro will take over TNT. They are very desperate now, and they are going to throw their best punch,” he said.

that we had to resolve because of Covid-19, but we would like to thank the IATF, Secretary [Carlito] Galvez and Secretary [Vince] Dizon, PSC Chairman [William] Butch Ramirez for really supporting this trip of the national team to Bahrain,” said Panlilio, also the president of the Samahang Basketbol ng Pilipinas. “Gilas Pilipinas will be able to supply moments of joy to our people,” PLDT Chairman and SBP Chairman Emeritus Manuel V. Pangilinan. “Each game you play, and win, will unite the people in pride, and bring hope that there will be better days ahead.”

Bambol in PSA Forum

Vincent Juico @VJuico Instagram vpjp_j, vince.juico@gmail.com

SPORTS WITHOUT BORDERS

Globalization of PHL athletes

I REMEMBER reading news of basketball players who struggled to make it here and decided to try their luck and ply their trade overseas. Names like Paul Zamar and Almond Vosotros, who both played in Thailand. Alyssa Valdez played in Thailand, too, and Jaja Santiago brought her talent to Japan. Recently, you have Kai Sotto and Cholo Anonuevo and in football, the Philippine Football League’s Azkals Development Team’s Jarvey Gayoso and Mar Diano receiving offers from three to four teams in Thailand. Let’s not forget Bryan Bagunas spiking his way to Japan and Marck Espejo bringing his act to the Middle East and, of course, Thirdy Ravena beginning to assert himself in the Japanese B-League. In basketball, you can kind of expect that because of Sotto and Anonuevo’s talent, but in football, it could only mean opening Philippine football’s Pandora’s box in an opposite but excellent way. In women’s volleyball, the pandemic deprived talented players from playing overseas. Playing abroad is a huge opportunity for players, they’re given a chance to widen their horizons, create more opportunities for themselves, learn a new culture and create lifelong friendships outside the archipelago. The financial part is a given, these players receive salaries two to three times more than what they are receiving at home. Some of these young men and women are breadwinners so the financial abundance is life-changing for themselves and their families. Personally, I’m happy for these young professional athletes, especially the part where they learn a new language and a new culture. Whatever knowledge they gain abroad like tactics, strategies, nutrition and best workout practices, hopefully, they will share with their countrymen and peers.

HILIPPINE Olympic Committee (POC) President Abraham “Bambol” Tolentino goes solo in the webcast edition of the Philippine Sportswriters Association (PSA) Forum on Tuesday. The congressman from the Eighth District of Cavite and head of the Integrated Cycling Federation of the Philippines or PhilCycling will talk about his bid for a fresh term as head of the country’s Olympic body in the 10 a.m. session. The POC election is set this Friday. Clint Aranas, Tolentino’s lone rival for the POC presidency and president of the World Archery Philippines, appeared in the weekly forum three weeks ago to present his platform. The public sports program is presented by San Miguel Corp., Go For Gold, Milo, Amelie Hotel Manila, Braska Restaurant and the Philippine Amusement and Gaming Corp. and powered by Smart with Upstream Media as webcast partner. The session is livestreamed via the PSA Facebook page fb.com/PhilippineSportswritersAssociation and also shared by Radyo Pilipinas 2 Facebook page.

ONDON—Heading in training sessions must be immediately restricted amid growing concerns about brain injury diseases among former professional footballers, the players’ union in England said on Friday. The decision by the Professional Footballers’ Association followed a meeting of its management committee which assessed research into dementia and neurodegenerative diseases. “Science has been developing quickly in this area, and we need to make an urgent intervention based on the evidence that is available now,” PFA chairman Ben Purkiss said. “A reduction of heading in training is a practical and straightforward step. We will be engaging with members, former members and their families to work on this area within the scope of the PFA’s new advisory group, where decisions will be made on the basis of expert advice.” It was announced this month that Manchester United and England great Bobby Charlton was diagnosed with dementia. In July, the 83-year-old Bobby’s brother and fellow England World Cup winner, Jack, died after being diagnosed with the disease. Nobby Stiles, who was also part of England’s only World Cupwinning side, died after battling dementia. “In the short term, football cannot carry on as it is,” PFA chief executive Gordon Taylor

A YOUNG but dynamic men’s national team strike a pose before flying to Bahrain.

Donaire shifts fight plan in bid to snatch bantamweight crown FROM a southpaw, Nonito “The Filipino Flash” Donaire Jr. is now training for an orthodox opponent.

ORMER world champion Nonito “The Filipino Flash” Donaire Jr. adjusted his fight plan from facing a southpaw to an orthodox opponent after reigning World Boxing Council (WBC) bantamweight champion Nordine Oubaali was found unfit to defend his title. Donaire will instead face Puerto Rican Emmanuel Rodriguez for the vacant WBC bantamweight belt on December 19 at the Mohegan Sun Casino Uncasville in Connecticut. The WBC declared the Frenchman Oubaali as champion in recess. “Rodriguez is someone we can’t sleep on. We’re fortunate to have the switch of opponents early to formulate a new game plan because Oubaali and Rodriguez so different,” the 38-year-old Donaire told BusinessMirror in a texted message. Rodriguez fights right-handed.

“We are adjusting our game plan from Oubaali’s southpaw style to Puerto Rico Rodriguez’s orthodox style,” Donaire’s wife Rachel told BusinessMirror via overseas call from Las Vegas. Donaire (40-6 win-loss record with 26 knockouts) and Rodriguez (19-1 record with 12 knockouts) both lost to defending unified world bantamweight Naoya Inoue of Japan last year during the World Boxing Super Series (WBSS). Inoue grabbed Donaire’s World Boxing Association title in the finals of the WBSS bantamweight championship last November 7, 2019, via unanimous decision in Japan. Rodriguez, on the other hand, was knocked out in the second round by Inoue in the semifinals of the same series to snatch the International Boxing Federation (IBF) belt in May 2019. But the WBC gave Donaire another chance

to become a world champion during these trying times. “As we understand it, Oubaali will be champion in recess. Rodriguez and I will fight for a title and will fight Oubaali after,” Donaire said. “I am grateful for the WBC finding a way for fights to continue under the current circumstances we are all facing.” Rachel said her husband is in top condition in Las Vegas. “He’s been doing 10 rounds of sparring already, training everyday and he’s just staying in the house and the gym. We are very grateful to the WBC and Richard Schaefer to get another world title opportunity,” she said. Oubaali, undefeated in 17 fights with 12 knocks, was tested positive for Covid-19 and couldn’t leave France for the United States, according to various news reports. Josef Ramos

Footballers in England want heading in training immediately restricted said. “There is a big issue here, and based on the increasing evidence available, it is clear we need to take immediate steps to monitor and reduce heading within training.’ Research published in 2019 by the University of Glasgow found former male professional players had a 3.5 times higher rate of death from neurodegenerative diseases such as Alzheimer’s or Parkinson’s. In absolute terms, that risk remained relatively small—1.7 percent among former players and 0.5 percent for the comparison group. Former players also were more likely to be prescribed dementia medicines than the others were. Researchers compared the causes of death of 7,676 Scottish men who played soccer with 23,000 similar men from the general population born between 1900 and 1976. Over a median of 18 years of study, 1,180 players and 3,807 of the others died. They found footballers were less likely to die of common causes such as heart disease and cancer compared with the general population but more likely to die from dementia. “I don’t think it’s entirely clear cut to identify

the risk factors,” English Football Association chief executive Mark Bullingham said on Friday ahead of the PFA announcement. “But, obviously, heading could be one of those risk factors and that’s why we put in place all the guidelines we have with regards to youth football, which I think are actually tougher than any other country in the world.” In January, football officials in England, Northern Ireland and Scotland announced that children up to the age of 12 will be banned from heading a ball in practice sessions. The guidelines say there will be a “graduated approach” to heading in practice for kids aged from 12-15, while heading will be restricted to one practice session per week for kids 16 and 17. Campaigning to discover more about the long-term impact of head injuries in soccer has been led in England by the family of former England striker Jeff Astle, whose death at age 59 in 2002 was attributed to repeatedly heading old-style heavy, leather balls. Cyber criminals, meanwhile, attacked

Manchester United’s systems, the English Premier League club said over the weekend. The northwest English club said it was confident “critical systems” required for matches to be staged at Old Trafford are secure, ensuring the team can host West Bromwich Albion on Saturday. “The club has taken swift action to contain the attack and is currently working with expert advisers

RESEARCH published in 2019 by the University of Glasgow finds former male professional players having a 3.5 times higher rate of death from neurodegenerative diseases such as Alzheimer’s or Parkinson’s. AP

to investigate the incident and minimize the ongoing IT disruption,” United said in a statement. “Although this is a sophisticated operation by organized cyber criminals, the club has extensive protocols and procedures in place for such an event and had rehearsed for this eventuality. “Our cyber defenses identified the attack and shut down affected systems to contain the damage and protect data.” United said it was not aware of any breach of personal data from supporters. AP

Sports BusinessMirror

B8 Tuesday, November 24, 2020

By Eddie Pells

The Associated Press

S more than 300 teams prepare to start a season that will look nothing like any before it, the conversation isn’t so much about who will be cutting down the nets at the end of March Madness as much as whether anyone will cut down the nets at all. If some team, any team, does climb a ladder in Indianapolis—and the top candidates include the usuals, with No. 1 Gonzaga, Duke, Kentucky and Kansas among them—then consider the season a success. Anything short of that, and nothing less than the future of college sports could hang in the balance. This is the new world created by a Covid-19 crisis that is mushrooming to more than 190,000 new cases a day across America just as college basketball gets set to tip off its season Wednesday. Teams will play truncated schedules— many cut from 31 to 27 or 25 games—after truncated preseasons. It’s a shrunken, evershifting and still perilous grid laid out with the health of players and coaches in the forefront of everyone’s mind, but with an unspoken belief that the show really does need to go on. The end game is the 68-team extravaganza known as March Madness, the event that was wiped off the calendar eight months ago in a stunningly rapid turn of events as the seriousness of the pandemic set off alarms across the US. It cost the NCAA around $375 million, and sent shockwaves around the entire college sports landscape. “The bottom line is that American higher education, not just athletics, is hemorrhaging like never before,” Duke athletic director Kevin White said earlier this fall to the US Olympic and Paralympic Committee, of which he is a member. The NCAA is already making plans to turn this year’s postseason into something much different, and much less, than it has been in the past—proposing to hold all games in a single city, most likely Indianapolis, which is where the Final Four is already scheduled for April 3 to 5. Though a vaccine appears to be on the way, there’s a good chance that in March, fans and bands and mascots will largely miss out, much the way they’ve been missing out inside arenas and stadiums that have hosted recent National Basketball Association, Major League Baseball and National Hockey League seasons, as well as the current and oft-interrupted college and pro football schedules. But the reality is, the people college basketball really needs at the arenas are the TV crews.

GOAL: MARCH MADNESS

FANS watch as Creighton takes on St. John’s in an NCAA college game in the quarterfinals of the Big East Conference at the Madison Square Garden in New York last March. AP

CBS and various cable affiliates are scheduled to pay around $800 million this season to televise America’s most frenetic sports celebration for three weeks each March and April. That’s on top of the millions the biggest conferences generate in media revenue during the regular season. Most of it is money earmarked for distribution by the NCAA and the conferences to the schools, which combine hoops and football revenue to fund smaller sports in their programs. A staggering 116 of those programs have been cut from 34 schools at the Division I level since pandemic hit, according to the USOPC, whose very ability to field an Olympic team is largely dependent on the college system.

Another year like that would have the potential to mark the beginning of the end of the college sports system as we know it. “When you look around the country, this has potential to force some schools to recalibrate what they’re capable of supporting,” said John Tauer, the coach at Saint Thomas, the Minnesota school that is moving from Division III to Division I. “It’s a complicated question that every school is going to answer differently.” So, how to get from November to March? The Ivy League has already bagged it, canceling all winter sports, which means there will be no Harvard or Yale come tournament time, and none of those eminently entertaining stories about how smart guys can play hoops, too.

Blazers re-sign 17-year NBA veteran Anthony

ORTLAND, Oregon—The Portland Trail Blazers have re-signed 10-time All-Star Carmelo Anthony. It was one of several anticipated moves that Portland formally announced Sunday. The Blazers also re-signed forward Rodney Hood, who was injured for much of last season, and signed free-agent forward Derrick Jones Jr. Anthony, a 17-year National Basketball Association (NBA) veteran, averaged 15.4 points, 6.3 rebounds and 1.5 assists in 58 games with the Blazers this season. He signed with Portland last November after being out of the game for a year. Anthony has 26,446 career points, ranking him 15th on the NBA’s career list. Over the span of his career, he has averaged 23.6 points, 6.5 rebounds and 2.9 assists. He was also on four Olympic teams. Anthony played seven-plus seasons

EGAN BERNAL will undergo a pretty long recovery process because the pain has caused him to have scoliosis in his spine.

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

for the Nuggets before being traded in 2011 to the New York Knicks, where he spent six-plus seasons. He also has played one season each with Oklahoma City and Houston. The Rockets traded him to Chicago in January 2019 but the Bulls cut him before he played a game. Hood, a six-year veteran, declined a $6 million player option with Portland earlier this week, becoming a free agent. He signed a new two-year deal with the Blazers but the terms were not made public. Hood averaged 11.0 points and 3.4 rebounds in 21 games, all starts, with the Blazers last season before he tore his left Achilles tendon. He did not play with Portland in

the bubble in Florida. “Rodney played a critical role in our run to the Western Conference Finals in 2018-19 and was off to a great start last year prior to his season being cut short due to injury,” Neil Olshey, president of basketball operations, said in a statement. “Now fully healthy we expect him to make an immediate impact and are pleased he chose to stay in Portland.” Sunday was the first day that most NBA free agent contracts could be signed. Free agent talks around the league opened Friday evening, and many of the deals that were struck over the weekend started becoming official Sunday. Jones, a four-year veteran, averaged 8.5 points and 3.0 rebounds with the Miami Heat last season. He played in 59 games including six starts. Portland also formally announced that it had acquired veteran center Enes Kanter from Boston in a three-team trade. It is Kanter’s second stint

Most everyone else is planning a season. Many teams are planning shorter road trips and a smaller footprint. No trip’s success— not even that of a quick bus ride—will be taken for granted. Testing protocols are in place and, as the college football season has shown us with the cancellation of a handful of games every weekend, all participants will need to be able to adjust on the fly. “Those thoughts creep in every day,” Florida Coach Mike White said. “I wonder how many with the Blazers, he was also with the team during its run to the Western Conference finals in the 2018-19 season. Kanter averaged 8.1 points and 7.4 rebounds last season. Portland sent forward Mario Hezonja to the Memphis Grizzlies as part of the deal. The Blazers also acquired forward Robert Covington from the Houston Rockets in exchange for Trevor Ariza, the draft rights to Isaiah Stewart and a conditional future first round pick. The deal was reported before Wednesday’s draft, but it was not announced by Portland until Sunday. Covington, a seven-year veteran who played for both Minnesota and Houston last season, is expected to start for the Blazers. He had total 115 steals, ranking third in the league, and 93 blocks last season while averaging 12.4 points, 6.6 rebounds and 1.3 assists. The NBA season is set to open December 22. AP

Bernal on back problems: I’ve always had pain there

ORMER Tour de France winner Egan Bernal—forced out of this year’s race with back pain—said he has had problems with his back ever since he started riding. The Colombian was in a podium position in this year’s Tour de France, leading Ineos Grenadiers’ overall classification challenge, when he struggled on the stage to Grand Colombier and lost over seven minutes. The next day, he gave up even more and then dropped out of the race in the third week. While visiting the Vuelta a Colombia on Saturday, Bernal told Signal Colombia television that he has always had back problems. “The pain is really something very old, last year during the Tour that I won, the first year that I raced the Tour and since when raced mountain bikes, I’ve always had a pain there,” he said. “The problem is that one leg is longer than the other,” Bernal told ESPN

Colombia last month. “It’s a pretty long recovery process because basically it has caused me to have scoliosis in my spine.” Bernal speculated that the pain is coming from a pinched nerve in his spine that runs down into his leg and a too-rapid ramp up to the second part of the season caused it to flare up. He began the second part of the season after the coronavirus break with a victory in La Route de Occitanie and second place in the Tour de l’Ain but struggled in the Critérium du Dauphiné with pain in his back. “During the quarantine, with so many hours on the rollers and then going from zero to the intensity of the races in France before the Tour, I think that made a pinched nerve in the vertebra a bit irritated and that’s where the pain is coming from,” Bernal said. “I feel fine, it is a bit of a complicated injury, but we are working very hard to be able to be at the level that I should be next year,” he added. Cyclingnews

games I’ll miss this year. I wonder how many games we’ll have our five starters out there, 12 guys available.” When teams do start playing, some of the top players to watch will be Jared Butler (Baylor), Cade Cunningham (Oklahoma State), Ayo Dosunmu (Illinois) and Luka Garza (Iowa). Garza averaged nearly 24 points and 10 rebounds as a junior last season. The pandemic complicated his decision about whether to stay in school or go pro. He will now enter the season as one of the rarest birds in the college basketball ecosystem—a senior who also has NBA lottery potential. A mere eight months ago, those kind of issues—namely, the mass migration of players to the NBA after a single year of college, or no college at all—fueled that perennial cauldron of debate about the overall health of the sport and the need for reforms. Covid-19 makes that seem less important now. Though there’s always a lot of handwringing about the outsized role of money— passed both legitimately and under the table—in college basketball, there is no debate about this: Without any games, the money will dry up and college sports as we know it will be reshaped, too. And so, even with positive cases of the virus surging and the health risks as dire as they’ve ever been, teams scurry to fill in blank spots on their schedules and get ready to put on a show. There was no Midnight Madness to mark the first practices of the season, but that was never the goal. The goal is March Madness—even if it’s a TV-only event. “We don’t know a lot of things,” Duke Coach Mike Krzyzewski said. “But we know we’re going to have March Madness. We know we’re going to have a regular season. We just don’t know much about both—and it’s a hell of a way to run a railroad.”

Daniil Medvedev switching tactics works wonders. AP

Medvedev tops Thiem in 3 sets in ATP Finals

ONDON—Daniil Medvedev did not travel an easy path to the biggest title of his career at the Association of Tennis Professionals (ATP) Finals: He beat No. 3 Dominic Thiem for the championship after earlier getting past No. 1 Novak Djokovic and No. 2 Rafael Nadal. By switching tactics and coming back for a 4-6, 7-6 (2), 6-4 victory over US Open champion Thiem in Sunday’s final, No. 4 Medvedev became the first player to defeat each of the men ranked 1-3 in the season-ending championship—and only the fourth to do so at any tour event since 1990. “Means a lot,” said Medvedev, a 24-year-old Russian. “Shows what I’m capable of when I’m playing good, when I’m feeling good mentally, physically. So I know what I’m capable of. Just need to produce it more and more.” The win against Thiem on an indoor hard court in an arena without spectators, who were barred because of the coronavirus pandemic, followed those against Djokovic in the roundrobin portion of the tournament and Nadal in Saturday’s semifinals Medvedev went 5-0 in all, quite a turnaround from a year ago, when he was 0-3 at the ATP Finals. The tournament now ends its 12-edition stay in London and heads to Turin, Italy, next year. Medvedev closed 2020 by going 10-0 in November, including seven wins against members of the Top 10. He had zero victories over Top 10 opponents over the preceding 12 months. He called this run “a great boost of confidence for all the Slams coming up and all the tournaments. Hopefully I can continue this way.” Thiem’s defense and power from the baseline put him on top early, and strong serving at key moments allowed him to save the first eight break points he faced.

“He was crushing the ball,” Medvedev said, “like [there] was no tomorrow.” But Medvedev, the runner-up to Nadal at the 2019 US Open, finally converted on his sixth break chance of the third set by sneaking forward behind a return, making a forehand volley winner and going up 3-2. Thiem credited Medvedev with playing an “unreal game” there. That was enough, because Medvedev never faced a break point the rest of the way; he finished with 12 aces. A key shift came in the second-set tiebreaker, thanks to a change in style from Medvedev. Thiem went up 2-0 there, before Medvedev used an element of surprise by rushing to the net more often than usual—behind serves and returns—and reeling off the next seven points. That Medvedev began moving forward behind returns “was surprising” and “very gutsy,” said Thiem, who had won three of the pair’s previous four matches, including in straight sets in the semifinals in New York in September en route to his first Grand Slam trophy. In the second set Sunday, Thiem had break opportunities to take a 4-3 edge, but he badly missed a short shot on one. He put his hands on his hips. “Maybe,” Thiem said afterward, “the match would have had a different outcome if I convert that break point.” He stumbled and tumbled to the court in the next game, but appeared to be OK. Still, Medvedev said he sensed Thiem was fading down the stretch. “To make Dominic tired in a threeset match,” Medvedev said, “is a great achievement.” AP