BusinessMirror November 25, 2020 by BusinessMirror

Wednesday, November 25, 2020 Vol. 16 No. 48

P25.00 nationwide | 2 sections 16 pages |

10-MO TOURISM ARRIVALS, RECEIPTS PLUNGE BY 80%

Take from ‘sin’ products dips 8.5% on lockdowns

By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

ONTINUING travel restrictions here and abroad to contain the spread of Covid-19 have pulled down inbound tourism arrivals by 80.6 percent to 1.32 million, from January to October 2020. Latest data from the Department of Tourism (DOT) obtained by the BusinessMirror, also showed tourism receipts fell 79.7 percent to just P81.05 billion, from P398.93 billion in the same period in 2019. Using data provided by the Bureau of Immigration, DOT reported that January 2020 recorded the highest number of international tourists in the country at 787,307, an increase of 8.84 percent from January 2019. “Arrivals started to slow down by the month of February to 418,126, a drop of 45.48 percent. Tourist traffic further plunged in March to 113,286, a decrease of 84.14 percent due to air travel restrictions. There are no arrivals from April to October due to the ban on inbound international tourist travel,” the DOT said. Similarly, for visitor receipts, January also posted the highest in the current year at some P47.02 billion, which was higher by 9.1 percent than January 2019. “Consequent to few visitor arrivals, February 2020 visitor receipts amounted to P27.12 billion, a decrease of 40.21 percent. March 2020 visitor receipts were at P6.91 billion, an 83.6-percent decline. No tourist spending was recorded in April to October,” the government agency noted. The DOT is currently focused on reviving domestic tourism due to continuing travel restrictions abroad, although foreigners seem to be keen still on vacationing in the Philippines. (See, “PHL pins hopes on ‘revenge travel’ in 2021,” in the BusinessMirror, Nov. 17, 2020.) In June, Tourism Secretary Bernadette Romulo Puyat had brought up the idea of having travel bubbles or travel corridors between zero-Covid countries in Asia and zero-Covid destinations in the Philippines. This has yet to pan out, however. DOT spokesman and Undersecretary Benito C. Bengzon Jr. told ANC on Monday, the travel bubbles are currently between newly reopened domestic destinations. “We started with the Ridge and Reef Travel Corridor which involves Baguio City and neighboring provinces in Region I—Ilocos Norte, Ilocos Sur, La Union and Pangasinan. So essentially, the idea is to contain the movement of travelers within and among those areas that I mentioned.”

By Bernadette D. Nicolas @BNicolasBM

PEOPLE from different walks of life are slowly starting to buy their Noche Buena products to avoid the holiday rush in supermarkets, such as this one in Las Piñas City. The Department of Trade and Industry has secured manufacturers’ assent to observe suggested retail prices (SRP) of the typical Christmas feast fare. The DTI said SRPs apply to both supermarkets and wet markets nationwide, unless specified. NONIE REYES

Moody’s to PHL: Watch virus-tied income gap By Bianca Cuaresma

@BcuaresmaBM

HE global health crisis and its massive effect on the economy is expected to widen income disparity in Asia Pacific countries, and the Philippines was flagged to be among those who will struggle to address it. In a recent special report, international credit watcher Moody’s Investors Service warned that, de-

See “Tourism arrivals,” A2

PTESO EXCHANGE RATES n US 48.1920

spite the notable economic growth in the Asia Pacific (APAC) region years before the pandemic, the impact of the coronavirus health crisis will still exacerbate income inequality across the region. “The pandemic will make inequality starker, with governments increasingly resorting to fiscal policy to limit widening income gaps and protect human capital,” Moody’s said. Across the region, Moody’s cited the Philippines as one of the four sov-

ereigns that will struggle to address the looming greater inequality, thus, posing spillover risks to the country’s social and political climate. “Governments with weak social protection systems and low fiscal capacity to raise spending will face particular challenges in tackling income inequality. India, Indonesia and, to some extent, Malaysia and the Philippines stand out in this regard,” Moody’s said. The credit watcher warned that

job losses and income shocks, such as those brought about by the pandemic, typically disproportionately hurts the vulnerable and lowerincome groups. According to an International Monetary Fund (IMF) study, the Gini coefficient—or the statistical measure of income inequality within a nation— increases by close to 1.5 percentage points on average of five years after a pandemic hits. Continued on A2

‘Treasury must get back billions parked in PITC’

HE Senate, acting on Minority Leader Franklin M. Drilon’s disclosure Tuesday, is poised to open a full-blown inquiry into the operations of the Philippine International Trading Corporation (PITC) where at least P33.4 billion in funds from different government agencies are parked. Senators are also weighing in on his suggestion to have the Executive compel all concerned agencies to return their unused funds to the Treasury, so these can be used for badly-needed initiatives in fighting the Covid-19 pandemic. In a privilege speech on Tues-

day, Drilon divulged findings indicating that the PITC was transformed into a veritable piggy bank where huge idle funds were deposited to make it appear that the money had been obligated in order to avert returning the unused funds to the National Treasury at year-end. Drilon, a former Justice Secretary, indicated this is tantamount to a violation of Section 10 of the General Appropriations Act (GA A), also known as the National Budget Law, which requires the unspent expired appropriations to be returned to the National Treasury. Continued on A2

XCISE tax collections on “sin” products from January to September slid by 8.5 percent year-on-year as Covid-19-induced lockdowns dampened consumer demand. Preliminary data obtained by the BusinessMirror showed sin tax collections of the Bureau of Internal Revenue (BIR) and Bureau of Customs (BOC) for the nine-month period dropping to P193.7 billion this year from P211.8 billion in the same period last year. This, despite the 38.8-percent surge in excise tax take on sin products for the month of September to P29.2 billion this year from P21 billion in the same month last year. Finance Assistant Secretary Maria Teresa Habitan told the BusinessMirror this increase in September was prompted by “pent-up demand” that came after months of lockdown with liquor ban. For September this year, doubledigit growth rates were also recorded for the excise tax collections for tobacco and alcohol. Excise tax take for tobacco jumped by 66.4 percent to P19.1 billion in September this year from P11.5 billion in the same month a year ago. For the same month, excise tax collected from alcohol rose by 14.5 percent to P7.4 billion this year from P6.5 billion in 2019. On the other hand, the tax take from sweetened beverages in September sank by 14.2 percent to P2.6 billion this year from P3 billion last year. Habitan said the drop in the government’s excise tax collection for sweetened beverages showed a lesser public demand for soft drinks. There was no collection from electronic cigarettes (e-cigarettes) for September this year. For January-to-September period, sin tax collections from tobacco, alcohol and sweetened beverages were also lower this year compared to the same period a year ago. Among the three, the excise tax take in sweetened beverages posted the biggest decline. It dropped by 14.4 percent to P27.3 billion this year from P31.9 billion last year. It was followed by alcohol, which yielded only P51.7 billion from January to September, 9.3 percent lower than last year’s P57 billion. Excise tax take from tobacco reached P114.6 billion, 6.8 percent short of last year’s P123 billion. See “Sin products,” A2

n JAPAN 0.4610 n UK 64.2158 n HK 6.2169 n CHINA 7.3184 n SINGAPORE 35.8732 n AUSTRALIA 35.1079 n EU 57.0690 n SAUDI ARABIA 12.8512

Source: BSP (November 24, 2020)

News

BusinessMirror

A2 Wednesday, November 25, 2020

DOLE limits WSO vs EEI to cut Skyway work delays

By Samuel P. Medenilla

@sam_medenilla

O minimize delays in the construction of the Skyway Extension project, the Department of Labor and Employment (DOLE) on Tuesday reduced the scope of the work stoppage order (WSO) it issued against EEI Corporation.

Instead of covering the entire Skyway Extension Project, Sucat Alabang Viaduct, the WSO will now just apply over the site where the construction-related accident in-

volving EEI Corporation happened during the weekend. “This Office recognizes the utmost national importance underlying the said skyway extension proj-

ect. Equally acknowledged is the fact that the suspension of the said project in the unaffected areas will cause prejudice to the employees assigned/deployed thereat whose livelihood heavily depends on the said project’s continued operation,” Bello said in a two-page order. San Miguel Corp. (SMC), which is in charge of the project, earlier said the completion of Skyway Extension will be delayed from December 2020 to February 2021 due to the accident. Last Saturday, 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. The incident led to the death of one person and injuries to six others.

In a letter it sent to DOLE on Monday, EEI maintained that the incident was an isolated case and that it strictly complies with safety protocols. EEI said it is now conducting its own investigation on the incident. Representatives of the contractor met with labor officials on Tuesday at DOLE-National Capital Region’s Muntaparlas Field Office in Las Piñas City. DOLE spokesman Rolly Francia said another meeting between DOLE-NCR and EEI is scheduled since there still several issues regarding the incident, which still needs to be addressed. He earlier said the WSO will likely remain in effect until completes it probe on EEI’s “presumptive negligence.”

US, China spar over O’Brien’s remarks on SCS Continued from A8

He said the US will not leave and will continue to maintain its presence in the Indo-Pacific region amid political developments in America, and it will do even after the end of Trump’s term. “That is one of the reasons I am here in the region: to convey American commitment to our treaty partners, to our allies, to our partners. The United States is a Pacific power. We have a long Pacific coastline, like many, many of the countries from where folks on this call hail from. We are also a major Pacific power

and we have long-term commitments here,” he said. “We’re going to be here, we’ve got your back, and we’re not leaving. We’re not going to be pushed out of the Indo-Pacific region. We’re going to fight for a free and open Indo-Pacific region with all of our friends and partners. And I think when we send that message —that peace-throug-strength message—is the way to deter China,” he added.

US shunned Unclos

THE Chinese embassy said the US itself refused to join the Unclos, but it keeps talking about the UN body, “and abused its provisions

Sin products… E-cigarettes

MEANWHILE, collection from ecigarettes inched up by P0.2 billion during the nine-month period this

Continued from A1

year from none last year as Republic Act 11346, which increased taxes on tobacco products and introduced a tax on e-cigarettes, was

everywhere, infringing upon the maritime rights and interests of other countries. “The US is not a party to the SCS dispute, but it frequently sends warships and planes to the SCS on numerous occasions for military provocations, goes as far as using the electronic codes of civil aviation planes of the Philippines and other regional countries to carry out espionage flights in the SCS.” The Chinese embassy said O’Brien had made some unreasonable remarks on the SCS, Hong Kong and Taiwan issues during his visit to the Philippines. “He [O’Brien] blatantly accused China on no ground, grossly inter-

fered in China’s internal affairs, deliberately exaggerated regional tensions and attempted to sow discord between China and the Philippines.” He said O’Brien’s visit to this region “is not to promote regional peace and stability, but to create chaos in the region in order to seek selfish interests of the US.” “We urge the US side to respect China’s territorial sovereignty and maritime rights and interests in the SCS, respect the joint efforts of China and Asean countries for maintaining a peaceful and stable South China Sea and stop interfering and inciting confrontation in the SCS.”

only signed on July 25 last year and took effect only this year. Nonetheless, Habitan expressed optimism that the government can hit the full-year revised target for sin tax collection pegged at P235.3 billion. “Looks like we will meet the revised target, if the trend cont i nue s ,” she said.

While she admitted that the recent typhoons may affect the demand for sin products, Habitan is confident there will be an increase in sin tax collections for the rest of the year as she expects more people to consume alcohol and tobacco especially during the holiday season. “That could dampen demand somehow, though the holidays could still push it up kahit papaano [somehow],” she said.

Tourism arrivals. . . Continued from A1

Baguio, Ilocos Norte and Sur have only recently started accepting tourists even from general community quarantine areas like Metro Manila. “We also have a travel bubble, in a way, between Manila and Boracay and also El Nido. Right now, we don’t have any travel bubble programs with any foreign destinations because inbound travel to the Philippines is still restricted. But we’ve done some preparatory work and know more or less which destinations in Southeast Asia or at least in Asia will be part of the travel bubble program, which will most likely involve our resort destinations,” he added. Travel bubbles among European countries and in Asia have largely been put on hold, due to a resurgence of Covid-19 infections across the region. Travelers had taken advantage of the summer season to visit neighboring countries which had thought it had licked the virus. Now on a second lockdown are Germany, France, Spain while in Asia, Hong Kong and Singapore were supposed to launch a travel bubble on November 22, but have postponed it for two weeks after the Chinese territory recorded a spike in Covid-19 infections.

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‘Treasury must get back billions parked in PITC’ Continued from A1

On interpellation by Sen. Francis Pangilinan, Drilon said an executive order can be issued requiring the agencies to revert to the Treasury the funds that are now parked. Peers who interpellated him, like Senators Richard J. Gordon and Risa Hontiveros—shared his concern that billions have not been used, some for a decade, when the government has been desperately scrounging for funds the past nine months to effectively respond to the Covid-19 pandemic. Earlier, Sen. Panfilo Lacson backed his call for an inquiry. In his speech, Drilon disclosed that PITC trading firm is now embroiled in a brewing controversy involving billions of pesos of public funds after being “used as a pawn” by agencies looking to “skirt their obligations to return unused funds to the national coffers and avoid procurementrelated liabilities.” Drilon exposed an apparent modus vivendi between the PITC and government agencies using it to skirt the end-of-the-year validity of appropriations. Inilalabas po nila ang pera bago mag-lapse or expire ang appropriation,” Drilon said in a privilege speech expected to trigger a full-blown Senate inquiry. In the meantime, Drilon suggested t h at t he gover n ment agencies involved insist on getting back their money even as he expects the PITC to voluntarily return the deposited funds in its possession. “Is this a scheme?” asked Drilon, adding that, “PITC is being used as a pawn. PITC effectively provides a mechanism to hide inefficiencies in government.” The lawmaker lamented that “ instead of returning to the General Fund the money that they cannot utilize, it seems that government agencies deposit the funds in PITC. Billions of pesos in public funds are parked in the bank accounts of PITC.” Drilon asserted that once agencies are unable to obligate and disburse the funds allotted to them by the end of the year, the appropriation will lapse and the funds will revert to the National Treasury. This will negatively affect their absorptive capacity and can be used by the Department of Budget and

Management (DBM) to reduce their appropriation in the next budget cycle, he noted. This practice of parking the funds with PITC to avoid returning the money could account for the spike in PITC’s consumers’ deposits in a span of five years—from only P4.8 billion in 2015, to P33.4 billion in 2019. Citing his sources, Drilon said some agencies turn to PITC to avoid procurement-related liabilities. He explained that for any procurement through PITC, the mother agency or source agency would not be liable for the bid process as it is not the head of the procuring entity or HOPE, but the PITC. Drilon said the billions of public funds parked in PITC should be returned. He added: “I believe that this practice of improper, or shall I add dishonest, handling of public funds has become a bad habit in government.” The Senate chief fiscalizer also questioned the authority of the PITC to impose a service fee of 1 to 4 percent and to engage in construction of fire stations, multipurpose halls and lighthouses, when it is clear from Executive Order 133 that the state firm shall only engage in both export and import trading on new or non-traditional products and markets not normally pursued by the private business sector. “I was surprised with the coverage or kind of procurements that PITC is undertaking for the government bureaucracy: from face towels, t-shirts, shoes, guns, x-ray machines, and firetrucks, to infrastructure projects such as fire stations, lighthouses, multipurpose halls, and training centers,” he said.

Remit dividends

DRILON, who authored the GOCC Governance Act, said that as a state-owned corporation the PITC is mandated to remit dividends to the national government. C it i n g C OA r e p o r t s , t he PITC has received service fees of over P50 million in 2016, P76 million in 2017, P137 million in 2018, and P171 million in 2019, according to Drilon. In 2019 alone, the state firm posted a combined service fee and business income of P784 million. “ We shou ld l i ke w i se a sk : what percentage of this service fee is being remitted to the national coffers?” he asked. Butch Fernandez

Moody’s to PHL: Watch virus-tied income gap Continued from A1

Moody’s data showed that the Philippines has the third-largest Gini coefficient in Asia Pacific, next to China and India, although the country has made significant improvements from its state of income inequality since 2000. “Past pandemics have also resulted in a rise in social unrest, driven by inequality and lower growth,” Moody’s said. “Post-pandemic, less-skilled workers or those with basic education are more likely to face unemployment and for longer than those with advanced education. Informal sector workers have been faced with a double-whammy of significant job losses and inadequate coverage under social protection systems,” the credit watcher added. Amid these challenges, Moody’s said sovereigns are using fiscal policy to mitigate income inequality, and provide support to vulnerable groups. However, the credit watcher cautioned that the Philippines may not have enough fiscal space to deal with the looming threat.

“The Philippines [along with Malaysia] have little fiscal space to ramp up spending without offsetting tax measures, and high Gini ratios,” Moody’s said.

There is hope

AS countries recover from the coronavirus pandemic, Moody’s said social protection systems in particular have the power to mitigate the near-term economic impact, while preventing long-lasting effects on labor. Moody’s had lauded the recent efforts of the Philippines to increase its support to social protection coverage. If performed efficiently and correctly in the wake of the pandemic recovery, the Philippines might alleviate some adverse effects of the pandemic-induced income equality. “Notably, in the Philippines, revenue collections from sin taxes on tobacco, and alcoholic and sugary beverages help to finance the universal health-care program, representing a double-barreled fiscal approach to enhancing social protection,” Moody’s said.

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Chicken egg output posts 9-mo record high at 450,919.39 MT By Jasper Emmanuel Y. Arcalas @jearcalas

HE country’s chicken egg output from January to September rose by 8.08 percent to 450,919.39 metric tons (MT), the highest nine-month period output on record, according to the Philippine Statistics Authority (PSA). Latest PSA data showed that the nine-month production was 33,740.39 MT higher than the 417,179 MT recorded volume in the same period of last year. The local layer industry produced 154,294.82 MT of chicken eggs in the third quarter alone, which is the highest output ever in a July-to-September period, based on historical PSA data. The volume was 6 percent higher than the 145,544 MT recorded volume in the third quarter of 2019, PSA data showed. In terms of value, total chicken output from January to September at constant 2018 prices reached P45.134 billion, 5.1 percent higher than last year’s P42.946 billion, based on preliminary PSA data. At current prices, the nine-month period output was valued at P55.137 billion, which was 22.6 percent over last year’s P44.97 billion, PSA data also showed. The layer sector remained as one of the sectors that continue to grow despite the detrimental impact of the Covid-19 pandemic to the economy, particularly in Filipinos’ consumption. Chicken eggs production was among the two subsectors of the poultry sector that posted positive growth in terms of volume and value of production from January to September, PSA data showed. Latest PSA data showed that the average farm-gate price of chicken eggs during the nine-month period grew by 17.16 percent to P185.88 per kilogram to P158.65 per kilogram. The BusinessMirror earlier reported that the layer industry saw a drastic disruption in domestic egg trade with the rise of online food sellers and community vendors or distributors. (Related story: https://businessmirror.com. ph/2020/08/17/good-disruptionmore-people-buy-eat-eggs/)

Philippine Egg Board Association (PEBA) President Irwin M. Ambal earlier said Filipinos were forced to find alternative means of livelihood and profit to survive the pandemic; and egg reselling within their communities, such as subdivisions, or through online, was one such fallback. The apparent shift was also caused by the need to have a stockpile of food, especially during the height of lockdowns imposed by the government to curb the spread of Covid-19 in the country, he added. Health experts have kept saying that people needed to ensure their lockdown diets are healthy, and eggs were pitched as one of the best—and most convenient— sources of nutrients. Ambal said the disruption was a good thing since it shortened the value chain providing consumers with more affordable and accessible table eggs. Gregorio San Diego, chairman of PEBA, said it was easy for Filipinos to venture into egg reselling since eggs have a long shelf life and do not require high overhead costs. And since most Filipinos tightened their belts at the height of the lockdowns they were forced to find cheaper food alternatives, especially since retail prices of prime meat like chicken and pork had risen in the past months. “Among the agricultural commodities, chicken eggs are the cheapest and easiest to handle. It has become a poor mans’ diet,” San Diego said. “To note, it is our cheapest protein source.” The rise of egg resellers, San Diego added, was able to offset the loss of the layer raisers’ hotel, restaurant and industrial (HRI) markets. HRI accounts for 25 percent to 30 percent of the layer industry’s market. San Diego explained that most of the egg resellers were those who were laid-off due to the shutdown of certain industries. Furthermore, there are also hog raisers, who were affected or threatened by African swine fever, as well as broiler raisers that shifted to layer production to take advantage of the growing demand and profitable prices.

Editor: Vittorio V. Vitug • Wednesday, November 25, 2020 A3

Govt to raise P73.2B to inoculate 60% to 70% of population against Covid-19 chase 20 million doses of their Covid-19 vaccine. Since AstraZeneca, Galvez said, is selling its vaccine through a nonprofit model, it is currently the cheapest, at only $5 per dose. The government is now also in talks with Sinovac, through Henry Lim of the Federation of FilipinoChinese Chambers of Commerce and Industry Inc. Galvez said they are also meeting with representatives of Johnson and Johnson, as well as Pfizer for their Covid-19 vaccine. “Just in case we are able to get three of these, we will be able to get 60 million [Covid-19 vaccine doses] next year,” Galvez said.

Distribution scheme

By Samuel P. Medenilla & Butch Fernandez

@sam_medenilla @butchfBM

HE government has sufficient funds to immunize 60 million Filipinos from the novel coronavirus disease (Covid-19), the Department of Finance (DOF) has assured. During the public address of President Duterte on Monday, Finance Secretary Carlos G. Dominguez III said they are targeting to secure P73.2-billion budget for the said initiative with the assumption that government will have to spend $25 (roughly about P1,200) per person to have them inoculated from Covid-19. Of the said amount, he said P40 billion would come multilateral agencies, such as the Asian Development Bank (ADB) and World Bank. The government is eyeing to borrow P20 billion from domestic sources, such as the Land Bank of the Philippines (LandBank), Development Bank of the Philippines (DBP), and government-owned and -controlled corporations.

The remaining P13.2 billion, Dominguez said, will come from “bilateral sources,” or the countries where the government plans to purchase Covid-19 vaccines.

Under negotiation

CHIEF implementer of the government’s national policy on Covid-19 and vaccine czar Carlito G. Galvez Jr. said they expect to come out with an advance market commitment through a memorandum of understanding (MOU) with at least four vaccine developers before the end of the month. He said these companies include Sinovac, Pfizer, Johnson and Johnson, and AstraZeneca. He said they are already negotiating with AstraZeneca to pur-

GALVEZ said they already came out with the scheme for the distribution of the said vaccines as soon as these become available. He noted they will distribute it through a “geographical scheme” wherein they will prioritize areas, which have large incidents of Covid-19 such as the National Capital Region [NCR], Davao, Cebu and Bacolod. This will allow the government to determine the efficacy of the Covid-19 vaccine, according to Galvez. In the said areas, the government will prioritize giving the vaccine to the urban poor and other priority sectors such as health-care workers, and government uniformed personnel and their families. Health Secretar y Francisco Duque III said the government needs to vaccinate at least 60 to 70 percent of the country’s 104 million population to achieve the so-called herd immunity in the population. The World Health Organization (WHO) defines herd immunity as a “concept of vaccination, in which a population can be protected from a certain virus if a threshold of vaccination is reached.”

Vaccine for all—Recto

SENATE President Pro Tempore

Ralph Recto backed the Duterte administration’s decision to advance the payment for the Covid-19 vaccines, from the initial P73-billion funding set aside to combat the virus. “President Duterte’s order to the government to prepay the Covid-19 vaccines is correct,” Recto said, reminding that “vaccines are not COD [cash-on-delivery] goods you can order from Lazada. They are not postpaid items, but prepaid.” More so, he added, “when there is a race among nations to acquire them, with the first batches already pledged to rich nations who have bankrolled their development.” The senator said “there is even an Amazing Race-kind of hunt among nations for vaccines,” noting that “officials of some of our Asean neighbors were reported to have jetted all over the world to scour for and secure supply contracts.” In a news statement, the Senate President Pro Tempore also acknowledged that “one good development is that the adults in the [Duterte] Cabinet have gotten into the act, and I hope they will dictate the tempo and not the rank amateurs of PITC [Philippine International Trading Corp.] whose stint in office has so far been unblemished with success,” adding, “Kung nahihirapan ngang bumili ng suka, bakuna pa kaya?” At the same time, Recto aired hopes that “our supply deal with AstraZeneca will push through, as their vaccine matches our wallet [reportedly the cheapest at $10 per person] and our weather [can be stored at home refrigerators].” The senator expects that will “cut huge expenses for a cold chain, which the Pfizer vaccine would need as they have to be stored at -80 degrees Celcius [at -50 degrees, polar bears are known to freeze to death]—the infrastructure for which this tropical archipelago does not have.”

Senators to DSWD: Prioritize release of assistance to distressed Filipinos Duterte, Duque

ENATORS backed Majority Leader Miguel Zubiri’s resolution prodding the Department of Social Welfare and Development (DSWD) to frontload release of timely assistance funds for distressed Filipinos reeling from the double-whammy caused by Covid-19 and recent calamities. Administration Sen. Christopher Lawrence “Bong” Go signified intent Tuesday to join other senators enlisting as co-authors of the Zubiri resolution, seeking early delivery of awaited assistance for affected families in affected areas. At the same time, Sen. Risa Hontiveros also pressed for timely assistance for health workers at risk in the field, suggesting senators will also closely monitor prompt release of hazard pay for field workers deployed in affected areas. Manifesting his position during the plenary deliberations, Go observed that “sunud-sunod po na

bagyo ang tumama sa ating bansa sa gitna ng ating laban sa Covid-19, kaya kailangan po nating mas pabilisin ang pagbibigay ng pondo para sa ating mga kababayan na apektado ng mga bagyo at ng Covid-19.” Go reported to the Senate during the plenary deliberations that he, too, visited typhoon victims, adding that he personally witnessed their struggles to recover from the recent calamities. “Ako mismo ay nagpunta sa Catanduanes, Marikina, Bulacan, at Rizal province kamakailan lamang para magbigay ng tulong sa panahon ng kanilang pagdadalamhati,” Go recalled, adding, “Sa katunayan ay patuloy pa rin po ang pagbibigay natin ng tulong sa mga lugar na nasalanta ng bagyo.” He also acknowledged the efforts of DSWD for its continuing public service to Filipinos amid the recent typhoons and ongoing pandemic, even as he stressed the need to “closely monitor and expe-

dite the release of the much-needed funds and services to help Filipinos recover from these challenges.” The first-term lawmaker likewise recalled that the senators, led by Senate President Vicente Sotto III, promptly passed the Bayanihan to Recover as One Act to ensure that necessary resources can be made available to aid Filipinos in need, speed up economic recovery, and enhance the country’s continuing fight against Covid-19. Go stressed that “the allocations must be released immediately and be utilized to help Filipinos in need.” As this developed, Malacañang reported that local government units (LGU), which were devastated by Typhoon Ulysses (international code name Vamco) will now be getting another P1.5billion fund for their calamity response after President Duterte approved the recommendation of the Department of Budget and

Management (DBM) to release the amount to augment the already exhausted calamity fund of the said LGUs during his public address on Monday evening. Presidential spokesman Harry Roque said the released amount will benefit 24 provinces and cities, which were affected by Typhoon Ulysses. He said the beneficiaries include Bulacan; Cagayan; Isabela; Pampanga; Nueva Ecija; Camarines Sur, Quezon; Albay; Rizal; Quirino; Laguna, Camarines Norte; Pangasinan; Nueva Vizcaya; Tarlac; Aurora; Ilocos Norte; Batangas; Sorsogon; Marikina; Manila; Bataan; and Masbate. The latest amount released by DBM is separate from the other P1.5 billion it earlier release to help LGUs, which were hit by Typhoons Quinta (international code name Molave) and Typhoon Rolly (international code name Goni) in Calabarzon, Mimaropa, and the Bicol region.

He said the latest financial aid from the national government to LGUs regardless if they are “allies or not” of the administration. “Contrary to what critics say, during times of calamities and disasters, the Duterte administration does not discriminate or engage in politics,” Roque said. Based from latest government data as of November 21, 2020, Typhoons Quinta and Rolly caused over P22 billion worth of damages and affected 3.22 million people. Meanwhile, the cost of damage from Typhoon Ulysses reached P12.9 billion. It also affected 3.9 million people. Budget Secretary Wendel E. Avisado assured they still have sufficient funds in case more typhoons hit parts of the country next month since the regular National Disaster Risk Reduction Management Fund still has a remaining P10.74 billion balance. Butch Fernandez and Samuel P. Medenilla

DOLE chief rebuffs Salceda House proposal for 35-hour workweek

HE Department of Labor and Employment (DOLE) is opposing the passage of a proposed legislative measure pending at the House of Representatives (HOR) reducing the maximum working hours in a week to just 35 hours. Labor Secretary Silvestre H. Bello III said he is against House Bill (HB) 309, which will reduce the current 40-hour workweek by

five hours since it will negatively affect workers. “If you reduce the working hours, their [workers’] pay will also be reduced,” Bello explained. Albay Second District Rep. Joey Salceda, who authored the HB 309, said the proposed legislation will allow more “flexibility in workplaces,” cut down the utility bills of employers, and lessen road traffic.

Bello pointed out these reasons could be achieve if employers will practice flexible work arrangements such as work-from-home scheme, which is sanctioned by DOLE. Labor group Kilusang Mayo Uno (KMU) also opposed the shortened work hours since it claims the proposal violates international labor standard of a 40-work hours per day.

KMU Secretary-General Jerome Adonis said the policy is more detrimental for workers who are employed in a “no work, no pay” basis. Furthermore, he said, the shortened work hours will require employees to complete their regular task at a shorter period, which will be more burdensome for them. If passed into law, HB 309 could

also lead to the “reclassification” of regular employees into contractual workers. “KMU opposed this proposal of a 35-hour compressed workweek since it attacks their pay and work hours,” Adonis said. On Monday, the House recalled the second reading approval of HB 309 so its provisions could still be reviewed. Samuel P. Medenilla

wary over possible post-holidays rise in virus infections

HE Department of Health (DOH) is bracing for a possible surge in Covid-19 cases with the forthcoming celebration of the holiday season. President Duterte and Health Secretary Francisco T. Duque III, in a public address on Monday evening, said they are wary that the Christmas season, which is usually celebrated with family and mass gatherings by Filipinos, may lead to the spread of the virus. “The DOH is now forming a contingency plan so we will be prepared in case there will be a post-holiday season surge in the number of cases,” Duque said. To prevent such increase in new Covid-19 cases, the DOH chief urged the public to continue their strict compliance to minimum health standards, which involves wearing of face masks and face shields, as well as social distancing during the Christmas season. “I would like to remind everyone that while the number of cases [of Covid-19] continue to decrease, this should not be the reason for us to be lax or complacent [in complying with minimum health standards],” Duque said. As of November 23, 2020, DOH reported that there was already 420,614 confirmed Covid-19 cases in the country. Samuel P. Medenilla

BusinessMirror

A4 Wednesday, November 25, 2020

ESTABLISHMENT / ADDRESS NO.

FOREIGN NATIONAL / NATIONALITY

ESTABLISHMENT / ADDRESS POSITION

24/7 BUSINESS PROCESSING INC. 5th-6th-7th Flr. 81 Newport Bl Newport City Brgy. 183 Pasay City 1.

WANG, RUILIU Chinese

CUSTOMER SERVICE REPRESENTATIVE (CHINESE ACCOUNTS)

WANG, YIHAO Chinese

CUSTOMER SERVICE REPRESENTATIVE (CHINESE ACCOUNTS)

WU, JIANQIAO Chinese

CUSTOMER SERVICE REPRESENTATIVE (CHINESE ACCOUNTS)

ABC ABSOLUTE BEST CHOICE CONSULTING INC. 14/f 88 Corporate Center 141 Sede単o Cor. Valero Sts. Bel-air Makati City 4.

LYU, LIANG Chinese

BUSINESS DEVELOPMENT SPECIALIST (BI LINGUAL IN MANDARIN)

ADIDAS PHILIPPINES, INC. 14/f Fort Legend Tower Cor. 31st St. 3rd Ave. Bonifacio Global City Fort Bonifacio Taguig City 5.

MENZEL, ALYCE CARISSA Australian

SENIOR MANAGER, BRAND ACTIVATION

ALFANET GLOBAL SOLUTIONS, INC. Flr. No. 4th & 5th W Mall Bldg. Diosdado Macapagal Ave. St. Zone 10. Barangay 076, District 1 Pasay City 6.

CHUNPUN SUTIPON Thai

THAI SPEAKING CUSTOMER SERVICE REPRESENTATIVE

KHOCHIDKANG APINYA Thai

THAI SPEAKING CUSTOMER SERVICE REPRESENTATIVE

DUONG THI TUONG NGUYEN Vietnamese

VIETNAMESE SPEAKING CUSTOMER RETENTION SPECIALIST

HO THI KIEU MY Vietnamese

VIETNAMESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

NGUYEN VAN SY Vietnamese

VIETNAMESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

VO THI THUY HA Vietnamese

VIETNAMESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

10.

11.

AMUSETECH BUSINESS OUTSOURCING 6, 7, 8th Flr. (np) Moa Arena An J.w. Diokno Blvd. Brgy. 076 Pasay City 12.

ZHANG, DONGQING Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

ANOC99 CORPORATION 5/f Ayala Malls Manila Bay Building D. Macapagal Blvd. Cor. Aseana Street Tambo Para単aque City ANTHONY JAYA Indonesian

CHINESE CUSTOMER SERVICE

14.

ARR WU DE Myanmari

CHINESE CUSTOMER SERVICE

15.

CHAN JIAN ANG Malaysian

CHINESE CUSTOMER SERVICE

16.

CHEIN KYIN LAN @ CHAW SU Myanmari

CHINESE CUSTOMER SERVICE

17.

CHEN, MIAO Chinese

CHINESE CUSTOMER SERVICE

18.

CHEN, YONGSONG Chinese

CHINESE CUSTOMER SERVICE

19.

FANG, YAN Chinese

CHINESE CUSTOMER SERVICE

HA VI CANH Vietnamese

CHINESE CUSTOMER SERVICE

13.

20. 21. 22. 23.

HE, YUANBO Chinese HTET WON LYAN Myanmari HU, ZHIBIN Chinese

CHINESE CUSTOMER SERVICE CHINESE CUSTOMER SERVICE CHINESE CUSTOMER SERVICE

NO.

FOREIGN NATIONAL / NATIONALITY

POSITION

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

36.

LUONG NGOC BINH Vietnamese

CHINESE CUSTOMER SERVICE

76.

37.

LUU THI UT HIEN Vietnamese

CHINESE CUSTOMER SERVICE

38.

LY THI HAI YEN Vietnamese

CHINESE CUSTOMER SERVICE

39.

LY THIEU PHU Vietnamese

CHINESE CUSTOMER SERVICE

LYU YIN TAR Myanmari

CHINESE CUSTOMER SERVICE

40. 41. 42. 43. 44.

MAO, YUANQIANG Chinese

CHINESE CUSTOMER SERVICE

MIN THU Myanmari

CHINESE CUSTOMER SERVICE

NAR WAR Myanmari NGO VAN THANH Vietnamese

CHINESE CUSTOMER SERVICE CHINESE CUSTOMER SERVICE

45.

NING, YUHANG Chinese

CHINESE CUSTOMER SERVICE

46.

PHAM VAN KINH Vietnamese

CHINESE CUSTOMER SERVICE

47.

PHAM VAN TOAN Vietnamese

CHINESE CUSTOMER SERVICE

48.

QI, CHANGLING Chinese

CHINESE CUSTOMER SERVICE

49.

QUAN HUE DAT Vietnamese

CHINESE CUSTOMER SERVICE

BETONBAU PHIL., INC. U-410 4/f Dhi Bldg. 2 Lapu Lapu Ave. Magallanes Makati City 50.

KILTER, OLIVER Deutsch

DIRECTOR FOR ADMINISTRATIVE MATTERS AND SPECIAL CONCERNS

BIG EMPEROR TECHNOLOGY CORP. Eastfield Center Cbp1, Macapagal Blvd. Brgy. 076 Pasay City DINH THI LUU LUYEN Vietnamese

COMPUTER SYSTEM ANALYST

CHEN, JUNXU Chinese

MANDARIN CUSTOMER SERVICE

53.

DAN, XIANQIANG Chinese

MANDARIN CUSTOMER SERVICE

54.

GENG, CHAOCHAO Chinese

MANDARIN CUSTOMER SERVICE

55.

JIANG, YIN Chinese

MANDARIN CUSTOMER SERVICE

56.

LIAO, SUMING Chinese

MANDARIN CUSTOMER SERVICE

57.

LIN, ZHIPING Chinese

MANDARIN CUSTOMER SERVICE

58.

LIU, HAIYUN Chinese

MANDARIN CUSTOMER SERVICE

59.

NIE, CONG Chinese

MANDARIN CUSTOMER SERVICE

60.

SHI, FENGCHANG Chinese

MANDARIN CUSTOMER SERVICE

61.

TANG, BINJIE Chinese

MANDARIN CUSTOMER SERVICE

62.

XU, XIANDONG Chinese

MANDARIN CUSTOMER SERVICE

63.

ZHUO, CHAOLUN Chinese

MANDARIN CUSTOMER SERVICE

64.

ZUO, YUNYI Chinese

MANDARIN CUSTOMER SERVICE

51. 52.

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

25.

HUANG, XUXIANG Chinese

CHINESE CUSTOMER SERVICE

26.

JIANG, RONGYAN Chinese

CHINESE CUSTOMER SERVICE

KONG QI RONG Malaysian

CHINESE CUSTOMER SERVICE

28.

LAW KWAN HWAE Myanmari

CHINESE CUSTOMER SERVICE

68.

29.

LE THI BICH PHUONG Vietnamese

CHINESE CUSTOMER SERVICE

69.

30.

NO.

CHINESE CUSTOMER SERVICE

POSITION

ESTABLISHMENT / ADDRESS

LIU, SHUXIN Chinese

HUANG, JINHUI Chinese

LI, DONGDONG Chinese

ESTABLISHMENT / ADDRESS

35.

24.

27.

FOREIGN NATIONAL / NATIONALITY

www.businessmirror.com.ph

65.

ANG REAGAN Singaporean

IT SUPPORT

66.

WANG, SZU-TING Taiwanese

IT SUPPORT

67.

CHANG, YA-FAN Taiwanese

TECHNICAL SUPPORT

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

GARCIA CHAVARRO, ERICK ANDRES Colombian

SENIOR PROCESS EXECUTIVE

FIRST GREAT COMPUTER TECHNOLOGIES INC. Lot 5 Sta. Agueda Cor. Queensway Pagcor Drive Sto. Ni単o Para単aque City 77.

LI, XIN Chinese

MANDARIN CUSTOMER SERVICE REPRESENTATIVE

78.

LI, HUANG Chinese

MANDARIN CUSTOMER SERVICE REPRESENTATIVE

FUKUSHIMA GALILEI PHILIPPINE CORPORATION 26th Flr. Twenty Four Seven Mckinley Building 24th Cor. 7th Ave. Bonifacio Global City Fort Bonifacio Taguig City 79.

ZAMA, YOHEI Japanese

GENERAL MANAGER/ DIRECTOR

GALAXIER INC. Unit 1 & 3 14/f Sshg Law Center Sycip Law Center 105 Paseo De Roxas San Lorenzo Makati City 80.

QU, CHUAN Chinese

CHINESE SPEAKING IT PROJECT ASSOCIATES

GLOBAL B2B CONSULTANCY, INC. 50/f Pbcom Tower 6795 Ayala Avenue Bel-air Makati City 81.

PILLAI, SUJIT SOMAN Indian

CUSTOMER SERVICE INDIAN SPEAKING

82.

NGUYEN THI HONG Vietnamese

CUSTOMER SERVICE VIETNAMESE SPEAKING

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

NO.

FOREIGN NATIONAL / NATIONALITY

POSITION

111.

QU, MENGYAO Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

112.

SUHAN URAY Indonesian

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

113.

SUN, JIANPENG Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

114.

XU, MING Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

115.

XU, LINGLING Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

116.

YU, GUOXUN Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

117.

ZENG, KAI Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

118.

ZHANG, PENG Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

119.

ZHANG, XING Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

120.

ZHANG, JI Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

121.

ZHAO, JINMAN Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

83.

LI, JIANQIANG Chinese

CHINESE IT SUPPORT MANDARIN SPEAKING

122.

ZHAO, LELE Chinese

84.

CHANG, FENG Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

123.

ZHENG, YUCHENG Chinese

85.

FAN, DONGJIE Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

124.

ZHOU, SHIRU Chinese

86.

GE, ANQI Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

125.

ZOU, AIYIN Chinese

87.

LI, XIAOLONG Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

88.

LI, YUNDENG Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

89.

LIN, JINYANG Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

LOI HONG YING Malaysian

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

QU, PENGBO Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

SUN, YAPING Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

SUN, ZHANGYI Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

WU, LINGYU Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

WU, HONGMEI Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

YANG, HONG Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

ZENG, QINGREN Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

ZHANG, JUQIANG Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

ZHANG, KUI Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

ZHOU, WENQIANG Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

CAO, HENG Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

CHEN, BINTAO Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

CHENG, JIACHANG Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

FU, QIANG Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

90.

91.

92.

93.

94.

95.

96.

97.

98.

99.

100.

101.

102.

103.

HAN, YABING Chinese

CHINESE IT SUPPORT SPECIALIST

HONG, XING Chinese

CHINESE IT SUPPORT SPECIALIST

70.

KANG, MEILING Chinese

CHINESE IT SUPPORT SPECIALIST

105.

HUANG, XIAOTING Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

71.

XU, KE Chinese

CHINESE IT SUPPORT SPECIALIST

106.

LI, ZUOLONG Chinese

72.

LE THI THUONG Vietnamese

IT SUPPORT SPECIALIST

107.

73.

TEOH KHAI LEE Malaysian

IT SUPPORT SPECIALIST

104.

GULLIVER INTEGRATED OUTSOURCING INC. 21/f Oledan Square Bldg. 6788 Ayala Ave. San Lorenzo Makati City 126.

MATSUO, MAIKO Japanese

EXECUTIVE OFFICER

INTEGRITY GLOBAL GROUP, INC. 2/f-3/f Ayala Malls Circuit A.p. Reyes Ave. Carmona Makati City 127.

LI, WENSHU Chinese

CUSTOMER SERVICE REPRESENTATIVE

128.

CHEN, XING Chinese

MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE

129.

HUANG, YAO Chinese

MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE

130.

HUANG, HELE Chinese

MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE

131.

LEI, CHENG Chinese

MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE

132.

LI, XIAOLEI Chinese

MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE

133.

LIN, JUNFAN Chinese

MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE

134.

LUWISIA Indonesian

MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE

135.

PENG, TAOKUN Chinese

MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE

136.

TANG, SHIQUN Chinese

MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE

137.

WANG, BO Chinese

MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE

138.

WANG, QING Chinese

MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE

139.

XU, XIAOYANG Chinese

MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE

140.

ZHU, PANYANG Chinese

MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE

LEISURE & RESORTS WORLD CORPORATION 26/f West Tower, Pse Ctr., Exchange Rd. Ortigas Ctr. San Antonio Pasig City 141.

LEE CHOON SIANG Malaysian

CONSULTANT

142.

DONG, XIAOLU Singaporean

DEPUTY CFO

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

143.

CHAN, SHUK YU JACQUELINE Chinese

HUMAN RESOURCE MANAGEMENT HEAD

LI, JIERUI Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

LOGICALSOURCE1 CALL CENTER INC. 8/f Sultan Cityland Central Brgy. Highway Hills Mandaluyong City

108.

MA, FUMIN Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

31.

LI, WENJING Chinese

CHINESE CUSTOMER SERVICE

32.

LIANG, WEIPU Chinese

CHINESE CUSTOMER SERVICE

33.

LIANG, JINSHENG Chinese

CHINESE CUSTOMER SERVICE

74.

TSENG, YEE-TING Taiwanese

IT SUPPORT SPECIALIST

109.

MO, XUEMIAN Chinese

34.

LIN, SISI Chinese

CHINESE CUSTOMER SERVICE

75.

YEAP LI YING Malaysian

IT SUPPORT SPECIALIST

110.

QIAN, YIJUN Chinese

144.

FAN, ZIMING Chinese

CUSTOMER SERVICE REPRESENTATIVE

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

145.

QIN, YATIE Chinese

CUSTOMER SERVICE REPRESENTATIVE

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

146.

THUYEN NHUAN CHI Vietnamese

CUSTOMER SERVICE REPRESENTATIVE

The World

Editor: Angel R. Calso

Wednesday, November 25, 2020

AstraZeneca Covid-19 vaccine shown to be effective, cheaper, easy-to-store

ONDON—Drugmaker AstraZeneca said on Monday that late-stage trials showed its Covid-19 vaccine is highly effective, buoying the prospects of a relatively cheap, easy-to-store product that may become the vaccine of choice for the developing world. The results are based on an interim analysis of trials in the UK and Brazil of a vaccine developed by Oxford University and manufactured by AstraZeneca. No hospitalizations or severe cases of Covid-19 were reported in those receiving the vaccine. AstraZeneca is the third major drug company to report late-stage data for a potential Covid-19 vaccine as the world waits for scientific breakthroughs that will end a pandemic that has pummeled the world economy and led to 1.4 million deaths. But unlike the others, the Oxford-AstraZeneca vaccine doesn’t have to be stored at freezer temperatures, making it potentially easier to distribute, especially in developing countries. “I think these are really exciting results,” Dr. Andrew Pollard, chief investigator for the trial, said at a news conference. “Because the vaccine can be stored at fridge temperatures, it can be distributed around the world using the normal immunization distribution system. And so our goal … to make sure that we have a vaccine that was accessible everywhere, I think we’ve actually managed to do that.” The Oxford-AstraZeneca vaccine was 90 percent effective in preventing Covid-19 in one of the dosing regimens tested; it was less effective in another. Earlier this month, rival drugmakers Pfizer and Moderna reported preliminary results from late-stage trials showing their vaccines were almost 95 percent effective. While the AstraZeneca vaccine can be stored at 2 degrees to 8 degrees Celsius (36 degrees to 46 degrees Fahrenheit), the Pfizer and Moderna products must be stored at freezer temperatures. In Pfizer’s case, it must be kept at the ultra-cold temperature of around minus-70 degrees Celsius (minus-94 Fahrenheit). The AstraZeneca vaccine is also cheaper. AstraZeneca, which has pledged it won’t make a profit on the vaccine during the pandemic, has reached agreements with governments and international health organizations that put its cost at about $2.50 a dose. Pfizer’s vaccine costs about $20, while Moderna’s is $15 to $25, based on agreements the companies have struck to supply their vaccines to the US government. All three vaccines must be approved by regulators before they can be widely distributed. Oxford researchers and AstraZeneca stressed they weren’t competing with other projects and said multiple vaccines would be needed to reach enough of the world’s popu-

lation to end the pandemic. “We need to be able to make a lot of vaccine for the world quickly, and it’s best if we can do it with different technologies so that if one technology runs into a roadblock, then we’ve got alternatives, we’ve got diversity,’’ professor Sarah Gilbert, a leader of the Oxford team, told The Associated Press. “Diversity is going to be good here, but also in terms of manufacturing, we don’t want to run out of raw materials.” AstraZeneca said it will immediately apply for early approval of the vaccine where possible, and it will seek an emergency use listing from the World Health Organization, so it can make the vaccine available in low-income countries. The AstraZeneca trial looked at two different dosing regimens. A half-dose of the vaccine followed by a full dose at least one month later was 90 percent effective. Another approach, giving patients two full doses one month apart, was 62 percent effective. That means that, overall, when both ways of dosing are considered, the vaccine showed an efficacy rate of 70 percent. Gilbert said researchers aren’t sure why giving a half-dose followed by a larger dose was more effective, and they plan to investigate further. But the answer is probably related to providing exactly the right amount of vaccine to get the best response, she said. “It’s the Goldilocks amount that you want, I think, not too little and not too much. Too much could give you a poor quality response as well...,’’ she said. “I’m glad that we looked at more than one dose because it turns out to be really important.” The vaccine uses a weakened version of a common cold virus that is combined with genetic material for the characteristic spike protein of the virus that causes Covid-19. After vaccination, the spike protein primes the immune system to attack the virus if it later infects the body. Peter Openshaw, professor of experimental medicine at Imperial College London, said the finding that a smaller initial dose is more effective than a larger one is good news because it may reduce costs and mean more people can be vaccinated with a given supply of the vaccine. “The report that an initial halfdose is better than a full dose seems counterintuitive for those of us thinking of vaccines as normal drugs: With drugs, we expect that higher doses have bigger effects, and more sideeffects,” he said. “But the immune system does not work like that.” The results reported Monday come from trials in the UK and Brazil that involved 23,000 people. Of those, 11,636 people received the vaccine—while the rest got a placebo. Overall, there were 131 cases of Covid-19. Details on how many

people in the various groups became ill weren’t released Monday, but researchers said they will be published in the next 24 hours. Late-stage trials of the vaccine are also underway in the US, Japan, Russia, South Africa, Kenya and Latin America, with further trials planned for other European and Asian countries. Researchers said they expect to add the half dose-full dose regimen to the US trial in a “matter of weeks.’’ Before doing so they must discuss the changes with the US Food and Drug Administration. The AstraZeneca trials were paused earlier this year after a participant in the UK study reported a rare neurological illness. While the trials were quickly restarted in most countries after investigators determined the condition wasn’t related to the vaccine, the FDA delayed the US study for more than a month before it was allowed to resume. AstraZeneca has been ramping up manufacturing capacity, so it can supply hundreds of millions of doses of the vaccine starting in January, Chief Executive Pascal Soriot said earlier this month. Soriot said Monday that the Oxford vaccine’s simpler supply chain and AstraZeneca’s commitment to provide it on a nonprofit basis during the pandemic mean it will be affordable and available to people around the world. “ T his vaccine’s efficacy and safet y conf ir m t hat it w i l l be highly effective against Covid-19 and will have an immediate impact on this public health emergency,’’ Soriot said. British Health Secretary Matt Hancock said he felt “a great sense of relief ” at the news from AstraZeneca. Britain has ordered 100 million doses of the vaccine, and the government says several million doses can be produced before the end of the year if it is approved by regulators. Just mont hs ago, “t he idea that by November we would have three vaccines, all of which have got high effectiveness…I would have g iven my eye teet h for,” Hancock said. From the beginning of their collaboration with AstraZeneca, Oxford scientists have demanded that the vaccine be made available equitably to everyone in the world so rich countries can’t corner the market as has happened during previous pandemics. Leaders of the world’s most powerful nations on Sunday agreed to work together to ensure “affordable and equitable access” to Covid-19 drugs, tests and vaccines. “If we don’t have the vaccine available in many, many countries, and we just protect a small number of them, then we can’t go back to normal because the virus is going to keep coming back and causing problems again,” Gilbert said. “No one is safe until we’re all safe.” AP

US agency ascertains Biden as winner, transition begins

ASHINGTON—The General Services Administration ascertained on Monday that President-elect Joe Biden is the “apparent winner” of the November 3 election, clearing the way for the start of the transition from President Donald Trump’s administration and allowing Biden to coordinate with federal agencies on plans for taking over on January 20. Trump, who had refused to concede the election, said in a tweet that he is directing his team to cooperate on the transition but is vowing to keep up the fight. Administrator Emily Murphy made the determination after Trump efforts to subvert the vote failed across battleground states, citing, “recent developments involving legal challenges and certifications of election results.” Michigan certified Biden’s victory Monday, and a federal judge in Pennsylvania tossed a Trump campaign lawsuit on Saturday seeking to prevent certification in that state. Yohannes Abraham, the executive director of the Biden transition, said in a statement that the decision “is a needed step to begin tackling the challenges facing our nation, including getting the pandemic under control and our economy back on track.” He added: “In the days ahead, transition officials will begin meeting with federal officials to discuss the pandemic response, have a full accounting of our national security interests, and gain complete understanding of the Trump administration’s efforts to hollow out government agencies.”

Murphy, a Trump appointee, had faced bipartisan criticism for failing to begin the transition process sooner, preventing Biden’s team from working with career agency officials on plans for his administration, including in critical national security and public health areas. “Please know that I came to my decision independently, based on the law and available facts. I was never directly or indirectly pressured by any Executive Branch official—including those who work at the White House or GSA—with regard to the substance or timing of my decision,” Murphy wrote in a letter to Biden. Trump tweeted shortly after her letter was made public: “We will keep up the good fight and I believe we will prevail! Nevertheless, in the best interest of our Country, I am recommending that Emily and her team do what needs to be done with regard to initial protocols, and have told my team to do the same.” Pressure had been mounting on Murphy as an increasing number of Republicans, national security experts and business leaders said it was time for that process to move forward. Retiring Tennessee Sen. Lamar Alexander, who has repeatedly called for the transition to begin, released a new statement Monday saying that Trump should “put the country first” and help Biden’s administration succeed. “When you are in public life, people remember the last thing you do,” Alexander said. Republican Sen. Rob Portman of Ohio on Monday called for Murphy to release money and

staffing needed for the transition. Portman, a senior member of the Senate Homeland Security and Governmental Affairs Committee, also said Biden should receive high-level briefings on national security and the coronavirus vaccine distribution plan. Alexander and Portman, who have both aligned themselves with Trump, joined a growing number of Republican officials who in recent days have urged Trump to begin the transition immediately. Sen. Shelley Moore Capito, R-W. Va., also urged a smooth transition, saying in a statement Monday that “at some point, the 2020 election must end.” Meanwhile, more than 160 business leaders asked Murphy to immediately acknowledge Biden as president-elect and begin the transition to a new administration. “Withholding resources and vital information from an incoming administration puts the public and economic health and security of America at risk,” the business leaders said in an open letter to Murphy. Separately, more than 100 Republican former national security officials—including former Homeland Securit y Direc tor Tom Ridge, former CIA Director Michael Hayden and former Director of National Intelligence John Negroponte—said in a statement that Trump’s refusal to concede and allow for an orderly transition “constitutes a serious threat” to America’s democratic process. The officials signing the letter worked under four Republican presidents, including Trump. AP

A6 Wednesday, November 25, 2020 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Enticing the youth to take up farming

F things don’t change as they are right now, the country may find itself unable to sustain its food security. The threat comes from our aging agricultural producers. In a few years, many Filipino farmers will no longer be able to do the backbreaking work of planting food crops due to old age. The average age of the Filipino farmer is 60 years old. And it is possible that many of them have left the farming sector in recent years because they have retired or have opted to find work that is not as punishing as plowing the field. Unlike their private sector counterparts, retirees from the farming sector, particularly smallholders, do not get a monthly pension. Smallholders practically have no choice unless they have a child abroad or have relatives that are willing to take them in. More often than not, the children of these smallholders will inherit nothing but their poverty. Data from the Philippine Statistics Authority give us a clear illustration of how difficult it is for many Filipino farmers to get out of poverty. In the last decade, despite the increase in the budget for the agriculture sector, farmers and fishermen remained as the poorest workers in Philippine society. Preliminary estimates released by the agency in June showed that poverty incidence among farmers and fishermen has gone down, but the rate was still above the national poverty incidence of 16.7 percent. These figures alone are enough to discourage millennials from going into agriculture. A former official of the Department of Agriculture once said in a forum that the Philippine farming sector has an “image problem” because farmers are usually portrayed as plowing their land with the help of their carabaos and wearing tattered clothes. Sadly, however, people cannot be blamed for having such a mindset, as the incomes of planters have not improved significantly in the past years. What government data is telling us is that many of those who chose to feed the nation cannot even send their children to school or buy their basic needs. If the government’s goal is to entice the youth to produce the food requirements of the Philippines, merely imploring them to take up farming will not convince them to even look at the sector. Beyond lip service, stakeholders including the government should create the necessary conditions that will allow young farmers to profit from agriculture. For instance, many rural areas are still badly in need of farm-tomarket roads that will make it easier for farmers to transport their produce and allow them to stop relying on traders who buy their crops at a low price or even below production cost. If they need money so they can plant again, farmers cannot just easily go to the bank and take out a loan. When storms come and their uninsured crops are destroyed, they would have to tighten their belts or turn to loan sharks to be able to plant again. It is time for us to focus on our farmers and provide them what they truly need. This administration still has the chance to turn things around to safeguard the country’s food supply with the help of the youth. Unless farmers’ income improve considerably, it would be difficult for the state to entice young Filipinos to go into farming and help produce the country’s food requirements.

Employer’s registration with SSS Aurora C. Ignacio

All About Social Security

eing in the banking industry for several years, I have met and developed personal and business relationships with clients who are either owners of big and small-scale businesses or those who are either partners or incorporators of such firms. Indeed, the resilience of the Filipinos during this pandemic is truly admirable and worth emulating. For the past few months, we have recorded several individuals who were laid off from their jobs as well as a number of businesses that have closed due to bankruptcy since Covid-19 struck our country. Even then, we have seen in the news the growing number of overseas Filipino workers that were repatriated due to the global impact of the virus. But despite all these hardships and challenges, some OFWs were able to start anew by starting their own business. You’ll see them everywhere, but

mostly in various social-media accounts like Facebook, using online advertising, which is free of charge. Noteworthy to mention that majority of their products are mostly food and basic essentials, plants, furniture, household appliances, and many others. Even deliveries and so called pasabuy are now a hit, which is a version of online grocery or shopping that proved to be a safe means for buyers to avoid the virus because going to malls and other crowded areas like tiangges is not advisable. By definition, an “employer” is “any person, natural or juridical, domestic or foreign, who carries on in

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gal personality you fall under, such as Single Proprietorship, Partnership, Corporation including non-stock/ non-profit corporations, Foreignowned corporation, Manning Agency with foreign principal, Cooperative, or Manpower Service Cooperative. However, employer registration is not yet done via online since this is still through the usual Drop Box System, which the company representative uses to submit documents to any SSS branch. Generally, it is very important for them to have a registered My.SSS account also because this is where they can get their Payment Reference Number (PRN) for payment of SSS contributions and loans of their employees, view the real-time posting of payments, submit various forms such as Member Loan Billing Statements, among others. Having a My.SSS account is also cost-efficient to the employers because they don’t have to spend on transportation or have one of their employees leave the office. All they need is a computer and a good stable Internet connection. In just a few clicks, they can already file their See “Ignacio,” A7

Seafarer’s arthritis as a compensable work-related illness

Since 2005

Founder

the Philippines any trade, business, industry, undertaking, or activity of any kind and uses the services of another person who is under his/her orders. Simply put, if you own a business and you have people working for you, you are an employer. Being an employer and business owner is fulfilling because you do not have to answer to anybody but yourself, and you have the freedom to do what you see fit for your own business. However, being a legitimate business owner and employer come with several tasks and responsibilities. Aside from making sure that you keep your business afloat and you are able to give salaries to your employees every 15th and 30th of the month, you also have to make sure that your business is legal. This means registering with the DOLE, BIR, SEC, and most importantly, with the Social Security System. To register with the SSS, an employer must secure an Employer Number by accomplishing the Employer Registration Form, together with the Specimen Signature Card (SS Form L-501), and the original and photocopy of various required documents, depending on which le-

rthritis is considered as compensable work-related illness for seafarers who performed tasks onboard the vessel that involved unduly heavy physical labor and joint strain.

The most common types are osteoarthritis and rheumatoid arthritis. A 1996 study by doctors from St. Thomas’ Hospital in London published in Occupational Medicine Journal pointed out that seafarers, particularly engineers, are required regularly to lift weights in confined spaces, which may involve kneeling or twisting in a crouched position. This is aggravated by their vertical environment, which involves daily climbing a number of stairs. In doing so, they are vulnerable to repeated acute minor trauma to their knees. The typical symptoms of arthritis include painful and swollen joints, especially in the hands, feet, and knees; fever, fatigue, red and puffy hands, hard bumps (called rheumatoid nodules) just under the skin near the joints, loss of appetite and functional disability. In most cases, employers refuse to pay disability benefits on the premise

that the illness is not work related, or it is a pre-existing condition as it may have occurred overtime and could not have developed during the seafarer’s stay on board the vessel. In Teekay Shipping Phils. v. Jarin (GR 195598 June 25, 2014), the Supreme Court granted total permanent disability benefits to the Chief Cook who suffered rheumatoid arthritis. Rheumatoid arthritis as an autoimmune disorder occurs when the immune system mistakenly attacks the body’s tissues. It affects the lining of joints, causing a painful swelling that can eventually result in bone erosion and joint deformity. The Court took note that the risk of contracting rheumatoid arthritis was increased by the seafarer’s exposure to the working conditions in the vessel while performing his daily duties as Chief Cook. He was often required to work for long periods of time, was constantly exposed to extreme temperatures

and was made to carry heavy loads, which caused so much stress to his joints and muscles. In Oscar D. Gamboa v. Maunlad Trans. Inc. (GR 232905, August 20, 2016), the Court considered osteoarthritis, or the degenerative changes of the spine, as a workrelated illness due to the Bosun’s task (on board the cargo vessel that transported logs), which clearly involved unduly heavy physical labor and joint strain. Osteoarthritis is associated with a breakdown of cartilage in joints and occurs when the cartilage (that cushions the ends of bones in the joints) gradually deteriorates. In the recent case of Wilfredo Salas v. Transmed Manila Corp. (GR 247221 June 17, 2020), the Supreme Court granted the claim for total and permanent disability benefits to a seafarer who was diagnosed to have suffered gouty arthritis. The Court took note of the medical opinion of the seafarer’s personal doctor that the knee pain could be brought about by repeated stresses and strains to his knees while performing his tasks as a Second Officer. The personal doctor explained that joint stresses from the seafarers’ prolonged and, at times, faulty work posture cannot be avoided and may have taken a toll on his knees. He was found to be unfit to work as a seafarer considering that his bilateral knee pain significantly decreased his activity tolerance and can no longer be returned to his pre-

injury capacity. The Court likewise noted that his dietary intake while aboard the vessel could have contributed to the aggravation of his illness. Such factors in aforesaid cases proved the causal connection between the seafarers’ work and the increased risk of developing arthritis. The Court emphasized that what the law requires is not direct proof but only reasonable proof of the causal connection between the work and ailment. The disputable presumption principle under Section 20(B)(4) of the POEA contract signify that the noninclusion in the list of compensable diseases/illnesses in Section 32-A does not translate to an absolute exclusion from disability benefits. It operates in favor of the seafarer as the burden rests upon his employer to overcome the statutory presumption. Hence, unless contrary evidence is presented by the seafarer’s employer, this disputable presumption stands. Substantial evidence is considered by the courts in their decision, which consists of such relevant evidence, which a reasonable mind might accept as adequate to justify a conclusion that the seafarer’s working conditions caused or at least increased the risk of contracting the disease. Atty. Gorecho heads the seafarers’ division of the Sapalo Velez Bundang Bulilan law offices. For comments, e-mail info@sapalovelez.com or call 0917-5025808 or 0908-8665786.

Opinion BusinessMirror

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Mergers and the PCC during Covid

Getting back our rivers and creeks Dr. Jesus Lim Arranza

MAKE SENSE

Atty. Johannes Benjamin R. Bernabe

Competition Matters

ergers and acquisitions have slowed down in the last eight months since the country went on lockdown to reduce the risk of spreading Covid-19. With the uncertainty of the extent of decrease in demand for goods and services looming large, most businesses not only have had to shelve any planned expansions but also more likely, struggled to find ways to survive. Bayanihan to Recover as One Act or Bayanihan 2 is meant, among others, to offer a reprieve to businesses through various incentives and accommodations, which ease their cost of doing business amid the public health crisis and beyond. Subsidies are coupled with streamlined regulatory processes to help affected businesses, particularly micro, small and medium-sized enterprises (MSMEs), get through the lockdown and participate in a post-pandemic economic recovery. Curiously, the Philippine Competition Commission’s mandate to review mergers and acquisitions was included among the governmental measures that were curtailed by Bayanihan 2. For a period of two years from its passage, mergers and acquisitions, including joint ventures, whose value do not exceed P50 billion are exempted from the PCC’s erstwhile mandatory review. This means that only really large transactions north of approximately $1 billion will be subject to review. On the surface, this provision in Bayanihan 2 seems to make sense. Given the problems encountered by companies, especially MSMEs, in dealing with the effects of the pandemic, many face the prospect of closing shop. For some, the only hope for continued operations is to be acquired or merged with a larger firm. Other affected businesses may wish to consolidate their operations with others to thrive in the harsh business environment. Dealing with the regulatory hurdle of notifying the PCC and obtaining approval for such consolidations can be daunting, particularly if the lawyers advising the companies are not experienced in complying with the requirements. Upon deeper analysis, however, the proffered rationale does not hold much water. First, the thresholds for notifying mergers under the Philippine Competition Act and its existing rules are such that MSMEs are practically exempted from mandatory review. The largest MSMEs have assets worth less than P100 million; whereas, the PCA only requires notification and reviews transaction if the entity to be acquired has assets or revenues in excess of P2.4 billion. Since 99.5 percent of the roughly one million recorded business enterprises in the country are MSMEs, this leaves only a miniscule fraction of the 5,000 largest business entities susceptible to merger review. Moreover, a survey of the 200-plus transactions notified to the PCC since 2016 shows that only 17 transactions have exceeded the value of P50 billion provided under Bayanihan 2. Most of these were mergers among multinational companies, which did not have significant impact on competition in the Philippines because their operations here comprised but a small portion of their global revenues. In fact, PCC data shows that the transactions that are likely to substantially lessen competition (i.e., were the subject of a “statement of concerns” issued by the PCC’s Mergers and Acquisitions Office or

Ignacio. . .

continued from A6

SSS forms and documents in the convenience of their office or home. Under the E-Services tab in the SSS web site, they can certify the loans and claims of their employees, submit Employment Report (R1A), Sickness Notification, Loan Collection List (ML-2), Contribution Collection List (R-3), Maternity Notification, register their Benefit

were only cleared conditionally by the Commission) are generally those with a value from P2.5 billion to P10 billion. Hence, the peg of P50 billion set by Bayanihan 2 does not appear to have a basis, whether in terms of ostensibly shielding MSMEs from the costs of regulatory compliance or genuinely protecting consumers from anti-competitive mergers. Furthermore, the temporary diminution of PCC ’s mandate to review mergers will arguably lead to legal uncertainty at a time when certainty is precisely what is needed by the business community. Insofar as Bayanihan 2 states that the PCC can resume the exercise of its authority to unilaterally review transactions one year after the effectivity of said law, mergers that were provisionally exempted from notification and thus not notified can thereafter be reviewed. If found to be anti-competitive, the transaction can be subjected to conditions or, worse, unwound by the PCC. Rather than encouraging businesses to consolidate to better withstand the lockdown, Bayanihan 2 may instead have a chilling effect on mergers as there will be the uncertainty of not knowing whether a consummated transaction will be subsequently prohibited by the Commission. Of course, a straightforward fix for businesses intent to consolidate is to voluntarily notify the PCC of their proposed merger or acquisition; this way, their deal may be reviewed and cleared by the Commission prior to consummation and hence dispense with any cloud of doubt on possible anti-competitive effects the transaction may have. What is clear from the foregoing is that five years from the passage of the PCA, many stakeholders, even colleagues in government, still see competition disciplines as mere regulatory red tape. This is unfortunate, as economic history is replete with lessons on why long-term vision, as espoused by our competition law, should not be sacrificed at the altar of short-term exigencies.

Wednesday, November 25, 2020 A7

T happened again...the wrath of nature bringing so much pain and suffering. Typhoon Ulysses brought back the horrors of the massive flooding and devastation caused by Typhoon Ondoy in September 2009 in Metro Manila and nearby provinces.

Many experts—and even those living in areas that bore the brunt of both typhoons—are saying that Ulysses was worse than Ondoy. I don’t mean to be a pessimist but in all likelihood, we are doomed to repeat the deadly calamity, especially if the approach of the local governments and concerned national agencies to mitigate flooding will continue to be on a piecemeal basis. Let’s not overcomplicate matters. There were improvements made in the drainage system, and the LGUs and national government—ably assisted by civic organizations—are constantly cleaning up the rivers and creeks. But one important ingredient is

missing, and it is right there in our decades-old laws, particularly Presidential Decree (PD) 1067, or what we call the Water Code of the Philippines, and the Civil Code. Article 51 of PD 1067 states: “The banks of rivers and streams and the shores of the seas and lakes throughout their entire length and within a zone of 3 meters in urban areas, 20 meters in agricultural areas and 40 meters in forest areas, along their margins, are subject to the easement of public use in the interest of recreation, navigation, floatage, fishing and salvage. No person shall be allowed to stay in this zone longer than what is necessary for recreation, navigation, floatage, fishing or salvage or to

build structures of any kind.” Article 58 adds: “When a river or stream suddenly changes its course to traverse private lands, the owners of the affected lands may not compel the government to restore the river to its former bed; nor can they restrain the government from taking steps to revert the river or stream to its former course. The owners of the lands thus affected are not entitled to compensation for any damage sustained thereby.” Relevant provisions of the Civil Code, particularly Articles 457 to 463, clearly do not allow manmade accretion or erosion that will lead to a private entity or person owning a portion of the bodies of water. Taking into consideration all these, what should we do? Let’s recover our rivers and creeks! Is this still possible? Of course! We have the legal grounds while the National Mapping and Resource Information Authoria, or NAMRIA, has all the cadastral surveys and other records that the government can use as solid reference materials in determining the boundaries that should be set for manmade structures near rivers and creeks. Right now, with all the manmade accretion and erosion, the rivers and creeks are becoming narrower, with

When planning is not everything Dr. Carl E. Balita

Entrepreneurs’ Footprints

he Father of Modern Management, Peter Drucker, defines planning as the continuous process of making present entrepreneurial decisions systematically and with best possible knowledge their futurity, organizing systematically the efforts needed to carry out these decisions against the expectation through organized systematic feedback.

these dynamic and still ongoing behavioral mutations. Signals, trends and data are available to guide planning. As the Art of War puts it, the strategist can depart from the plan on the basis of knowledge, not ignorance. As there is an art that operates the efficient doing-thething-right planning, there is also science that guides doing-the-right-thing effective planning. Science is based on reliable evidences. Doing the right thing right by everyone from the beginning and all the time was how excellence was defined in the past. But in the context of this unprecedented pandemic experience, agility is called for as the preparedness to shift strategies towards the same vision. What used to be referred to as contingency planning, the plan B as reserved in case plan A fails, in the pandemic context may need to engage the entire alphabet for a more and diverse alternative plans. This should be regarded in planning.

dreams with timelines and deadlines. The plan sets the input, the processes and the outcomes in a document that serves as routes in the map of the desired future. The pandemic crisis has called for planning like never before. There is a shift from being reactionary to recovery, from surviving to thriving, and from knee-jerk reaction to a holistic proactive action for fight and win.

A lawyer by profession, Commissioner Johannes Benjamin R. Bernabe served as adviser to the Congress in the drafting of, and deliberations on the Philippine Competition Act. Prior to his appointment at the Philippine Competition Commission, he served as the Philippines’s lead trade negotiator at the World Trade Organization and was a senior fellow at the International Centre for Trade and Sustainable Development—both in Geneva, Switzerland.

When the volatility, uncertainty, complexity and ambiguity of the business eco-system confront business in the pandemic times, planning is vital. But planning is not everything. Planning forms part of the management process that serves as an input to what come in between the strategic vision and the outcome-oriented execution process, and everything else that follows. In the face of the pandemic, our skills of anticipating, influencing and controlling the nature and direction of change, as planning skills identified by McFarland, become more challenging. To Koontz and O’Donnell, planning is deciding in advance what to do, how to do it, when to do it, and who is to do it. Planning, as the bridge to the gap from where we are to where we want to go, has become more complicated because of what comes along the bridge and the tides below and the scenarios above and around it. Therefore, there is more into planning than just having a perfect plan. As a year comes to an end, planning sessions and workshops are conducted. Planners take a joy ride at their imagination towards an idealistic envisioned future as they anchor themselves within the boundaries of their realistic internal and external environments. The lessons of the past and the resources of the present are harmonized towards being and becoming the enterprise or organization of the future prepared for greatness infused with new hopes and

Not everything is changing. Yes, there are past and current disruptions that brought about a rate of change that is faster than ever before. But not everything is changing. Some changes may be permanent while some are just temporary and will recoil back to the old ways. This includes consumers who are in the wishful thinking mode of wanting to be back to the old normal, while adapting to and evolving with the new normal. These should be considered in planning. Psychographics are as important as the demographics. The pandemic experience has become a unique personal and social experience among people in particular and humanity in general. New living styles and lifestyles are formed. Emerging preferences and predilection are observable. The adaptation and adoption have either voluntarily and involuntarily transformed many facets of life and living. A customer-centric business pivot should bear this in mind to address

In the recently concluded Mansmith Market Masters Conference, the concept of the Business Model took centerstage and such idea surfaced in every conversation between and among 17 CEOs of top brands in the Philippines. The Business Model is a comprehensive reference and fast overview towards planning in this pandemic times. According to Tina Tan, President of Suy Sing, it is business model that drives creative marketing strategies while UnionBank President and CEO Edwin Bautista asserts that marketing can no longer be divorced from business model. 7-11 President and CEO Victor Paterno notes that if the business model is re-examined, it creates a hologram effect of understanding from different angle to understand it more. That is exactly the value of the business model in planning. The Business Model Canvas is a one-page strategic management and entrepreneurial tool. It allows one to describe, discuss, improve, design, challenge, innovate, invent, and pivot a business model. The Business Model

Re-disbursement Module and Disbursement Account Enrollment Module as well as submit their SS Sickness Benefit Reimbursement Application. It is also important to know that employers must report their new employees on their first day of employment. However, they are still given 30 days from the date of employment to report them to the SSS using the Employment Report Form (SS Form R-1A) and submit it to any SSS branch or, given the cur-

rent state of our country, through online using the employer’s My.SSS account in the SSS web site (www. sss.gov.ph). Their main responsibilities include paying in advance the SS and EC Sickness benefits due their employees based on the sickness notification approved by the SSS, as well as SS Maternity Benefits due to their qualified female employees. They should also constantly update their employees on the various programs and SSS policies. Moreover, certifying the submission of

SSS’ necessary documentation is also required from them especially when their employees file for loans and benefits. To avoid legal repercussions, employers are also expected to always comply with the rules and regulations promulgated by the SSC and the SS Law violations in non-payment and remittance of SSS contributions, among others. Failure to comply makes them liable to their employees and they must pay the benefits of those who died, become

disabled, or reached retirement age wherein they will be charged of all unpaid contributions and a 2 percent monthly penalty for late payments, and be served a criminal, administrative or civil case punishable by fines or imprisonment. As long as an employer-employee relation exists under our laws, the statutory obligations of the former must be complied with. Certainly, being your own boss and running your own business is very fulfilling. It also feels good to be

Three reality checks

Business model for planning

some even completely cut off from the river systems. What good will the drainage system improvements, cleanup campaigns, and pumping stations do if the flow of waters is being impeded by manmade structures, most of which are for commercial and personal use? Using the original titles, cadastral surveys and other records, the government should start measuring again the riverside and creekside properties. Those structures standing on areas that unduly encroached on river banks and creeks should be immediately dismantled and the owners penalized. This will take political will and the current administration has an abundance of it. Again, we have the legal basis, pertinent records, and strong government to launch this campaign to recover our rivers and creeks. Let’s do it now or we would just be literally shouting “encore” to Ondoy- and Ulysses-like catastrophes in the future. Dr. Jesus Lim Arranza is the chairman of the Federation of Philippine Industries and Fight Illicit Trade; a broad-based, multisectoral movement intended to protect consumers, safeguard government revenues and shield legitimate industries from the ill effects of smuggling.

Canvas breaks a business model down into nine easily-understood segments. These includes the (1) customer segment, which is the target market for whom (2) value proposition as a bundle of products and services is proposed. The (3) channels are the touchpoints for the delivery of the value leading to the establishment of (4) Customer relationship. The (5) revenue streams is the pricing mechanism capturing the value by engaging the (6) key resources which are indispensable infrastructure or assets with (7) key activities to perform well along with (8) key partnership leveraged for the delivery of value. These segments lead to the (9) cost structure in the business model. This Business Model Canvass was formulated by Alexander Osterwalder in 2005 based on earlier work on business model ontology. Multi-awarded business consultant Josiah Go expanded the elements and added the value chain, inspired by Porter, and reconfiguration, which is innovation inspired by the Blue Ocean Strategy. The Mansmith Business Model Map clusters the 11 elements into offering model, operating model and financial model. By aligning marketing, operations and finance to redesign the business, Mansmith Business Model Map breathes life into the business and can spur to differentiate. The point of planning is not the formation of the plan. This is the result of not so much the plan, as the depth of the knowledge that was obtained in the formation of one. Sun Tzu counselled in the Art of War to be like water, flowing the path of least resistance, yet striking with the force of a raging torrent. And the entrepreneurs will leave their footprints of victory not because of the formulated plan, but because of the achievement of the desired future. Josiah Go has developed an all-new Business Model Course to deep dive into each building block providing selection criteria, risk to be mitigated as well as to reconfigure to create business model innovation. It runs on January 19 and 20, 2021. More information at www. continuum-edu.com.

able to help other people by providing them employment so that they can provide for their families. In this aspect, SSS is always for the good of its working population especially those who are employed in the private sector. Have a great day ahead! Aurora C. Ignacio is SSS president and chief executive officer. We welcome your questions and insights on the topics that we discuss. E-mail mediaaffairs@sss. gov.ph for topics that you might want us to discuss.

A8 Wednesday, November 25, 2020

US, China spar over O’Brien’s remarks on SCS

By Rene Acosta @reneacostaBM & Recto Mercene @rectomercene

HE United States is looking for a longer term for its Visiting Forces Agreement (VFA) with the Philippines, even as it gave assurances that its military will remain in the Indo-Pacific region after the end of the Trump administration as it checks China and its aggressive behavior, prompting an angry retort from Beijing’s embassy in Manila.

National Security Advisor Robert C. O’Brien said the US wants to have a longer period for its security agreement with Manila, which the latter had just extended for another six months after moving for its termination in February this year. O’Brien was in Manila on Monday for a ceremonial turnover to officials led by Foreign Affairs Secretary Teodoro L. Locsin Jr. of some $18 million worth of precision guided munitions for the Philippine military’s campaign against Islamic extremists in Mindanao. Meanwhile, the Chinese embassy in the Philippines on Tuesday scored the United States for what it deemed interference in

the affairs of Asian countries, pointing out that the US has not even recognized the United Nations Convention on the Law of the Sea (Unclos). The Chinese embassy statement, attributed to its spokesperson, denounced the statement of O’Brien as “full of Cold War mentality and wantonly incite confrontation.” At Monday’s ceremonial turnover to Secretary Locsin, O’Brien told the DFA chief these are meant to help the Armed Forces of the Philippines (AFP) fight the terrorists in Southern Philippines “imposed by Isis [Islamic State in Iraq and Syria] in East Asia. O’Brien’s presence in the country also afforded him access to a host of Filipino officials, including Executive Secretary Salvador Medialdea, Finance Secretary Carlos Dominguez and Locsin, where wide-ranging issues were taken, including the VFA. “We were grateful to hear again the extension of the suspension of the Visiting Forces Agreement between the United States and the Philippines for six months, and we look forward to that being turned into a longer-term agreement,” O’Brien said in a telephonic briefing later in the afternoon with regional journalists. “We also discussed our mutual, regional strategic issues and goals, including a free and open Indo-Pacific, especially as it relates to the South China Sea,” he added. President Trump’s top security aide said the focus of his discussion in talks with officials was the common purpose of a free and open Indo-Pacific and a “commitment to sovereignty of the countries” in Indo-Pacific, “especially those that border the South China Sea,” wherein he reiterated US support. “A commitment on behalf of America to support our allies in Asean and our friends and partners in the region. The commitment is we will stand behind them as they promote international law and the rule of law where it comes to the South China Sea,” O’Brien said. The national security advisor said states have the sole rights to resources within their exclusive economic zones. “We are well beyond the days of imperialism where a country, because it is big or mighty, can simply take the patrimony of a smaller country because it has the might to do so. And, what I’ve said consistently in Vietnam and the Philippines—and I think it has resonated with the leadership in both places—is that the fishing rights, the mineral rights, the oil and gas rights that are in the EEZs of the various Asean countries belong to the children and grandchildren and great-grandchildren of those countries,” O’Brien said. “And they shouldn’t just be seized by a neighbor that happens to be bigger or stronger or richer or has a more powerful military,” he added, apparently alluding to China.

‘We’re here, not leaving’

“SO, we’re here. We’ve got the back of our partners and our allies, especially our treaty allies like the Philippines. And that was a common discussion that we had with the leadership of both Vietnam and the Philippines,” said the US official, who had also met with Vietnamese officials before flying to the Philippines. Continued on A2

PHL preparing for low-carbon scenario —Cusi to Asean peers

By Lenie Lectura

@llectura

HE Philippines is preparing for a low-carbon scenario in which coal’s share in the power mix will decrease while renewables and gas will gain momentum, the Department of Energy (DOE) declared at the recent Association of Southeast Asian Nations Clean Energy Week (ACEW). “Coal and oil shares will also continue to decrease due to the use of alternative fuels for transport, among others. This also translates to a power generation mix that shifts from being coalcentered to one where RE [renewable energy], natural gas, and other emerging clean-energy technologies will have increased shares,” DOE Secretary Alfonso Cusi, who attended an online Roundtable Discussion with ministers and top government officials in Southeast Asia, said in a statement Tuesday. Under the clean energy or low-carbon scenario envisioned by the Philippine government, there will be a slower growth of the total primary energy supply (TPES). The combined clean energy sources, meanwhile, will improve to reach more than 66 percent of the total generation by 2040. In line with this, the agency is prioritizing the issuance of the National Renewable Energy Program 2020-2040 to achieve the envisioned target of around 34,000 megawatts (MW) of RE capacity by 2040. The agency recently approved the updated Philippine Energy Plan (PEP) 2018-2040, which contains the necessary adjustments that the country has to make because of recent global developments, including the impact of the Covid-19 pandemic on the energy sector. “The updated version will help the energy family and our stakeholders better understand what the energy situation will be 20 years from now,” Cusi said. The updated PEP is meant to increase the production of clean and indigenous sources of energy; to decrease the wasteful utilization of energy through the use of energy efficiency tools and strategies; and ensure the balance among the provision of reliable and reasonably priced energy services, support for economic growth and protection of the environment. Cusi likewise renewed his commitment to implement Republic Act 9513 or the Philippine RE Law for the remainder of his term as Energy Secretary.

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Companies BusinessMirror

Wednesday, November 25, 2020

Angkas resumes operations under extended pilot study

By Lorenz S. Marasigan

@lorenzmarasigan

HE government has issued a provisional authority to Angkas for it to resume the operations of its motorcycle taxi services under the extended pilot program. The provisional authority granted to Angkas, according to Transportation Assistant Secretary Goddes Hope O. Libiran, will be valid until December 9. Angkas has to comply with operational requirements, such as the provision of insurance for both rider and passenger in case of accidents, as

well as the mandatory use of thermal scanners before being granted a certificate of compliance. “The technical working group may issue a certificate of compliance before the provisional authority expires should they complete the requirements ahead of time. The certificate of compliance will give them

authority to operate during the pilot study,” Libiran said. The two other players included in the study—JoyRide and Move It—have yet to comply with the requirements for their own provisional authorities. To be granted a certificate of compliance, the motorcycle taxi players have to submit a letter to the technical working group that signifies their compliance to the guidelines set by the government. Upon receiving the letter, the technical working group shall then conduct inspection and evaluate if the player is compliant. If found to be compliant, the technical working group shall then issue a certificate of compliance. To recall, motorcycle taxi players halted their operations on March

23, following the expiration of the pilot study for their legalization. In the Philippines, motorcycle taxis are not legally considered a form of public transportation, but is being pushed as one, mirroring trends in neighboring countries. In the previous study, Angkas was allowed to have as much as 23,000 bikers in Metro Manila, 4,500 bikers in Cebu, and 900 in Cagayan de Oro. JoyRide has 15,000 bikers in Metro Manila, around 4,500 in Cebu, and less than a thousand in Cagayan de Oro. Move It only has 8,000 bikers who are deployed in Metro Manila. It remains unclear for how long the extended pilot study will run, but Libiran said this will be tackled on Wednesday at a Congressional hearing.

New Wave to invest in tech start-ups By VG Cabuag @villygc

UNIT of publicly-listed IP EGame Ventures Inc. on Tuesday said it signed an initial deal with Malaysian investment firm Emissary Capital Growth Fund 1 LLP to set up a venture capital arm that will create a $50-million fund. The company said its unit, New Wave Strategic Holdings Ltd., and Emissary will form a joint venture to serve as general partner to manage the fund’s investment decisions, which will mainly focus on Malaysia and the Philippines. New Wave will invest up to $7.5 million as a limited partner. Its focus

“is geared towards building a stronger Malaysia-Philippines corridor for technology and venture capital,” the company said in its disclosure. With both countries harnessing the digital economy to hasten Covid-19 recovery, the investment firms are keeping a bullish outlook on Malaysia and the Philippines as growth hubs especially for tech-based startups, the company said. “We are looking to strengthen the corridor between Malaysia and the Philippines, as well as with the rest of Southeast Asia. Technology businesses today must have a regional outlook and entrepreneurs must demonstrate ability to scale this way. Our fund is looking to invest in

Southeast Asia’s growth companies led by founders that have proved resilience and success,” Enrique Gonzalez, New Wave director, said. Gonzalez is also a partner of SB Kaikaku Fund, which has invested in early stage technology companies in the United States and Southeast Asia. Martin Lichauco has joined the board of directors of New Wave due to his track record in the venture capital and private equity space. Kuala Lumpur and Manila are seen to be among the top emerging start-up ecosystems in the world, ranking 11th and 31st, respectively, based on the Global Startup Ecosystem Report 2020.

Despite the disruptions of the pandemic, fintech is a common subsector strength identified in the report by both markets, evidenced by the proliferation of e-wallets and digital payments-focused business models. Other strong sub-sectors noted are Malaysia’s e-sports thrust and the Philippines’s high e-commerce demand. In 2019, the Philippines enacted the Innovative Startup Law which aims to incentivize micro, small and medium-sized enterprises in the country, while Malaysia has been working towards enabling businesses to innovate through the Malaysia Digital Economy Corp.

URC starts Ortigas Land lights up Ortigas East for frontliners production of rubbing alcohol

NIVERSAL Robina Corp. (URC), the food group of the Gokongwei family, on Tuesday said it diversified into making pharmaceuticalgrade rubbing alcohol as demand grows for several hygiene sanitation products due to the pandemic. URC, the maker of Chippy, Granny Goose and C2 iced tea drinks, is introducing two alcohol brands to the market, Shield+ and BioSure. URC La Carlota Distillery in Negros Occidental will supply the alcohol ingredient in the long term. “This is aligned with our core values of looking after the Filipino community, in light of the ongoing pandemic. We have the capability, and we want to help. There’s demand out there. It just makes sense,” Vincent C. Go, managing director of URC agro-industrial group, said. The company said the high demand for hygiene and sanitation products, including rubbing alcohol, will likely remain, even after the pandemic subsides. The alcohol category was valued at P4.1 billion last year. In the first quarter of the year, sales already soared 76 percent to P1.8 billion. The company said it will roll out the product, offered in different sizes, to retail stores starting next month. The total manufacturing process of both brands are directly managed by URC—from sourcing of raw materials from its sugar mills, to distilling, to bottling of the finished products. URC ensures the continuous supply of ethanol, which is the primary ingredient of both products. This guarantees two key values for consumers, namely consistent quality and reliability of supply. URC La Carlota has an integrated sugar mill and bio-ethanol distillery complex that produces bio-ethanol fuel products from sugarcane. It is URC’s second ethanol plant, which it acquired from Roxas Holdings Inc. VG Cabuag

Solar PHL names new chief exec By Lenie Lectura @llectura

OLAR Philippines announced Tuesday the appointment of its new chief executive officer (CEO) and its plans to pursue a maiden offering. Marty Crotty, a familiar name in the power industry here and abroad, is the new CEO of Solar Philippines. He replaced Leandro Leviste, who remains the company’s sole shareholder. Marty Crotty served as president of AES Asia, where he managed power plants in Vietnam, India, Sri Lanka, and the Philippines, including the Masinloc coal plant, which was acquired by San Miguel Corp. with an enterprise value of $2.4 billion in 2018. Previously, he was CEO of Upwind Solutions, a wind asset management company backed by Silicon Valley investor Kleiner Perkins Caufield & Byers. Since then, he has managed the operations of over 10gigawatts (GW) of solar and wind plants in North America at EDF Renewables, one of the world’s largest renewable energy companies. The announcement comes after a month since the company said it was eyeing to forge partnerships with several local and foreign firms to aid the company’s solar power business. “Power industry veteran Marty Crotty is the new Chief Executive Officer of Solar Philippines, a month after signaling a strategic direction to bring onboard partners and professionals to prepare for a public listing,” the company said in a statement. It did not say when it plans to conduct an initial public offering (IPO), adding that further disclosures on its IPO plans would be announced at the appropriate time. The company has grown with over 2,000 employees and more than 10 GW in development in the Philippines and internationally. “Given the amazing progress Solar Philippines has made on its pipeline of development assets, I’m extremely grateful to have the opportunity to lead the team with a laser focus on

achieving Leandro’s vision to accelerate the transition to renewable energy,” Crotty said. Recently, the company shifted its strategy from competing with others in the power industry to collaborating with several local and foreign conglomerates to execute an ambitious solar pipeline. “We’re now finding more and more partners and colleagues who can see the time for solar in the Philippines is now. With our new partners and colleagues, we are more optimistic than ever that we can deliver the largest portfolio of renewable energy projects in Southeast Asia,” Leviste said. Solar Philippines has been increasingly focused on forging partnerships in recent years. In December 2018, it partnered with Korea Electric Power Corp. for its 63 megawatt (MW) Solar Farm in Batangas. This is KEPCO’s first renewable energy project in Southeast Asia. In June 2020, Solar Philippines inked a partnership with the Razon Group’s Prime Infra to develop a pipeline of projects, representing the largest solar joint venture established in the country. This includes completing the Tarlac 200 MW Solar Farm, the country’s largest solar project to date. According to the Department of Energy website, Solar Philippines is developing projects with a total capacity of over 10 gigawatts in over a dozen provinces. “While we once focused on competing with others in the power industry, we are now collaborating with several local and foreign partners, harnessing their strengths across all our projects to take solar in the Philippines to the next level,” Leviste earlier said. He also announced last month that the company would venture into the real estate sector. Leviste is optimistic with these changes set to happen soon. “We are more optimistic than ever that we and our partners can deliver a portfolio of projects that will make the Philippines a leader in the global energy transition.”

Thomson Reuters Manila to recruit more workers

CONTRIBUTED PHOTO

REMIER real estate developer Ortigas Land surrounds its community with holiday cheer with the much anticipated Ortigas East Christmas Street Musical Light Tunnel. Ushering in the holiday season of 2020 while acknowledging the challenges brought by unprecedented times, Ortigas Land introduces new ways to enjoy the well-loved lights spectacle with a theme that gives new meaning to the tradition. This year, Ortigas Land gives gratitude to frontliners who have been tirelessly working hard for the country. Beginning November 18, Ortigas Land switches on the Ortigas East Christmas Street Musical Light Tunnel tradition with the theme “Light Up for Our Heroes” dedicated to individuals who continue to serve as the country’s frontliners and first responders. The company likens these modern day heroes to the bright stars of the Christmas Street

Musical Light Tunnel that bring light, inspiration, and hope to their communities. Through the lights display, Ortigas Land hopes to signify the goodness that shines through during the darkest and most challenging times through these heroes. The Ortigas East Christmas Street Musical Light Tunnel will feature bright and colorful stars that will be enjoyed along with the beat of familiar Christmas jingles. It will be spread along Central Avenue near Tiendesitas at Ortigas East which will remain open for those who would like to safely and quickly pass through, where guests are encouraged to enjoy the lights through a delightful pass by. This year, Ortigas Land introduces new ways to enjoy the Christmas tradition while observing social distancing guidelines and other safety protocols. With this, the company has identified great spots spread across the estate where guests are

able to get the best views of our Christmas Street Light Tunnel. Through these stations, patrons of Ortigas East may discover new vantage points where they can create beautiful memories and traditions of their own. These stations, as the rest of Ortigas East, will be strictly monitored to ensure proper social distancing and that other safety protocols are always implemented on site. Ortigas Land also makes it possible for those who would like to stay at home this season to enjoy the Christmas Street Musical Light Tunnel. A special recording of the lights spectacle may be enjoyed any time and from anywhere through Ortigas East’s Facebook page (@OrtigasEastOfficial). The Ortigas East Christmas Street Musical Light Tunnel will be lit starting November 18 until January 3, 2021, from 6 to 11 p.m. For more information and updates, please visit and follow Ortigas East on Facebook.

HE Manila office of Thomson Reuters, one of the world’s most trusted providers of answers for businesses and professionals, said it is looking to increase its headcount among its Credit and Collection and Customer Service Teams. The company recently augmented its roster of Collection Specialists, who are responsible for the cash flow of the different segments, supporting both internal and external customers in billing queries and other account-related concerns, including resolving disputes. “We have the flexibility to support customers in different time zones, plus the talent in Manila has the expected skills needed,” explains Lilibeth Repolidon, Group Manager, Credit and Collection at Thomson Reuters Manila. Thomson Reuters Manila is also set to hire additional customer support representatives, who work closely with clients in providing seamless post-sales services. The company is looking for candidates whose skills and values area aligned with Thomson Reuters’ ways of working. These are candidates who will put the customer first, look for ways to improve the status quo, deliver value, and empower themselves and others. “Another consideration we also look at is stamina. Working on the night shift has its own challenges, and we want candidates who can

adapt to or are well adjusted to this lifestyle,” shares Anierhoyce Ramos, manager, Customer Service at Thomson Reuters Manila. Those who are successful in their applications can expect full support from the company’s leaders and managers, from onboarding to training, with a structured plan for each employee. “Even while working from home, new hires can expect that we will always work on employee development, creating different opportunities for them to learn new skills or develop their existing skills,” said Repolidon. The move to increase headcount at the Manila office is a strategic decision for the company. “As a company, we are tracking well against our targets, and with that comes the expectation of moving fast, if not faster, for our customers. We need to provide adequate support as our customers navigate the ‘new normal.’ We expect our customers will need more support as the current situation progresses, and we are responding to that by hiring more employees,” elaborates Ramos. Interested applicants may visit the Thomson Reuters Careers portal to apply to available opportunities in the Manila office. Alternatively, if interested applicants know of existing Thomson Reuters employees, their applications may be sent as employee referrals.

Companies BusinessMirror

Wednesday, November 25, 2020

PSE STOCK QUOTATIONS

November 24, 2020

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

ASIA UNITED BDO UNIBANK BANK PH ISLANDS CHINABANK CITYSTATE BANK 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

45.5 46 46.3 46.5 45.5 46 11,000 506,930 262,250 107.2 108.9 108.9 111.3 104 108.9 10,278,570 1,099,805,436 104,311,538 87 87.5 89 89 85.05 87.5 7,033,540 614,891,619.50 63,345,639 25.5 25.55 25.5 25.6 25.35 25.5 220,200 5,610,350 38,250 6 8.05 8.09 8.09 8.09 8.09 100 809 11.68 11.76 11.64 11.86 11.22 11.7 1,176,000 13,598,810 752,550 48.3 48.5 49.75 49.8 47.3 48.5 8,479,800 412,784,740 -100,931,480 9.65 9.8 9.61 9.79 9.61 9.79 36,600 356,817 19.6 22 19.58 19.58 19.58 19.58 100 1,958 31.2 31.4 29.95 31.4 29.2 31.2 2,155,700 64,609,030 -25,206,850 52.6 53.35 53 53.45 52.6 52.6 5,260 278,758.50 1,578 96.2 105.9 106 106 106 106 20 2,120 18.82 19.2 19.5 19.8 18.8 18.82 229,200 4,367,780 18,860 121.9 122 124.2 125.7 117 122 2,714,510 331,083,764 84,287,972 66.05 66.45 66 66.5 65.6 66.05 21,750 1,433,599.50 1,318 0.9 0.91 0.9 0.91 0.9 0.91 235,000 211,620 27.25 27.4 27.2 27.4 27.2 27.25 53,500 1,456,710 -870,800 0.67 0.7 0.67 0.67 0.67 0.67 13,000 8,710 4.02 4.07 4.15 4.15 3.81 4.02 574,000 2,299,990 1.39 1.42 1.27 1.69 1.25 1.42 5,158,000 7,753,350 -755,860 0.36 0.37 0.35 0.395 0.33 0.37 11,030,000 4,080,250 -96,500 0.65 0.66 0.67 0.67 0.64 0.65 260,000 168,890 25,350 158.6 160 160 160 158.6 160 5,160 824,692 68,260.00 2,000 2,098 2,300 2,300 2,000 2,000 60 123,980 57,000

INDUSTRIAL AC ENERGY 6.59 6.6 6.45 6.93 6.15 6.6 89,180,400 586,625,545 4,629,327 1.45 1.47 1.47 1.47 1.41 1.47 6,959,000 10,105,190 30,170 ALSONS CONS ABOITIZ POWER 27.85 27.95 28.5 28.55 27.65 27.85 2,561,900 71,862,315 -12,602,475 0.315 0.32 0.27 0.36 0.27 0.315 623,190,000 195,162,450 -195,500 BASIC ENERGY FIRST GEN 29 29.05 29.05 29.1 27.55 29 2,846,800 81,612,045 31,917,570 65.55 65.6 65.5 66.05 65.4 65.6 126,520 8,306,565.50 -6,285,168.50 FIRST PHIL HLDG 297 299.8 301.6 303 295.2 299.8 382,490 114,693,876 -55,020,912 MERALCO MANILA WATER 15.4 15.46 15.4 15.5 15.08 15.4 1,967,800 30,146,206 9,269,770 3.87 3.89 3.96 4.02 3.85 3.87 8,504,000 33,239,650 -5,988,230 PETRON PETROENERGY 3.58 3.59 3.55 3.59 3.55 3.58 262,000 936,570 12.7 12.9 12.7 12.8 12.6 12.7 62,100 784,696 PHX PETROLEUM 18.54 18.76 18.78 18.8 18.54 18.54 2,567,900 47,876,022 -8,118,728 PILIPINAS SHELL SPC POWER 10.5 10.66 10.46 10.7 10.44 10.5 796,500 8,423,448 -3,526,746 13.46 13.96 13.98 13.98 13.96 13.96 2,600 36,326 VIVANT AGRINURTURE 8.2 8.21 8.22 8.35 8.19 8.21 1,071,000 8,804,701 -2,331,065 3.28 3.3 3.16 3.3 3.1 3.28 3,742,000 11,990,440 -35,930 AXELUM 76.15 87.05 76 87.1 76 76 750 59,006 BOGO MEDELLIN CNTRL AZUCARERA 16 16.4 16.2 16.42 15.16 16.4 50,100 800,134 -83,920 17.48 17.5 17.9 17.9 17.42 17.5 1,041,300 18,297,048 2,003,306 CENTURY FOOD DEL MONTE 5.35 5.4 5.35 5.42 5.25 5.4 258,600 1,381,643 -362,721.00 7.02 7.05 7.14 7.16 6.9 7.02 5,663,700 39,661,437 9,275,695 DNL INDUS EMPERADOR 10.02 10.06 10.1 10.1 10.04 10.06 3,733,100 37,566,796 26,235,904 SMC FOODANDBEV 66.5 67 69.5 69.5 67 67 256,120 17,297,704.50 -758,952.50 0.69 0.7 0.72 0.72 0.68 0.7 1,450,000 997,580 ALLIANCE SELECT FRUITAS HLDG 1.57 1.58 1.54 1.58 1.5 1.58 38,840,000 59,594,350 653,020 52.15 53 53.6 54 52 53 51,000 2,698,563 53,000 GINEBRA JOLLIBEE 190 190.1 193 193 190 190 996,580 189,633,735 -92,248,919 LIBERTY FLOUR 50 52 52 52 50 50 490 25,000 8.3 9 8.9 9.3 8.45 9 44,100 377,489 MACAY HLDG MAXS GROUP 7.55 7.56 7.77 7.8 7.1 7.56 1,583,600 11,824,214 23,640 0.16 0.162 0.162 0.162 0.155 0.162 2,560,000 404,930 31,000 MG HLDG SHAKEYS PIZZA 8.59 8.6 8.9 8.93 8.15 8.59 946,400 8,031,096 397,925 ROXAS AND CO 1.25 1.26 1.23 1.26 1.21 1.26 5,762,000 7,115,160 -1,317,750 4.74 4.8 4.8 4.8 4.75 4.8 13,000 62,300 RFM CORP ROXAS HLDG 1.75 1.79 1.75 1.75 1.75 1.75 55,000 96,250 0.118 0.119 0.114 0.12 0.113 0.119 1,900,000 221,590 SWIFT FOODS UNIV ROBINA 147.2 147.7 150.6 152 145 147.2 1,702,390 251,573,812 -22,153,366 VITARICH 0.92 0.93 0.96 0.97 0.92 0.92 15,904,000 14,892,290 -981,310 2.5 2.58 2.5 2.5 2.5 2.5 5,000 12,500 VICTORIAS CONCRETE A 52.1 54.55 54.65 54.65 52.1 54.55 2,040 111,315 1.73 1.74 1.82 1.83 1.72 1.74 22,954,000 40,344,310 -938,020 CEMEX HLDG DAVINCI CAPITAL 5.32 5.4 5.35 5.4 5.32 5.32 147,000 786,780 15.38 15.4 15.5 15.5 15.2 15.4 162,500 2,487,116 -21,280 EAGLE CEMENT 7.45 7.46 7.5 7.63 7.44 7.46 493,100 3,689,268 -280,636 EEI CORP HOLCIM 6.95 6.98 7.28 7.28 6.87 6.95 5,885,400 41,368,053 3,522,276 9.89 9.9 10.4 10.42 9.48 9.9 15,766,200 156,844,549 -31,102,695.00 MEGAWIDE PHINMA 8.8 8.99 8.81 9 8.81 8.99 35,400 311,948 0.85 0.86 0.88 0.9 0.86 0.86 563,000 492,090 TKC METALS 1.09 1.1 1.12 1.12 1.06 1.1 3,538,000 3,872,620 11,000 VULCAN INDL CHEMPHIL 123 159.5 122.2 122.2 122.2 122.2 300 36,660 1.9 1.99 1.9 1.99 1.9 1.96 100,000 191,940 CROWN ASIA EUROMED 2.75 2.76 3 3.02 2.71 2.76 7,568,000 21,771,020 91,270 4.32 4.48 4.45 4.45 4.45 4.45 10,000 44,500 LMG CORP 4.58 4.68 4.58 4.58 4.58 4.58 1,000 4,580 MABUHAY VINYL PRYCE CORP 4.54 4.73 4.74 4.74 4.7 4.74 32,000 151,420 21.9 22 22 22 21.8 22 650,100 14,302,000 -7,427,200 CONCEPCION GREENERGY 2.63 2.64 2.62 2.65 2.55 2.64 8,049,000 20,997,260 1,601,230 7.39 7.4 7.73 7.8 7.31 7.4 1,403,700 10,697,743 -1,176,641 INTEGRATED MICR 1.09 1.1 1.13 1.14 1.1 1.1 1,538,000 1,714,530 IONICS PANASONIC 5.23 5.46 5.5 5.5 5.19 5.46 11,100 59,679 1.61 1.62 1.63 1.65 1.58 1.62 3,019,000 4,908,600 4,950 SFA SEMICON CIRTEK HLDG 7.21 7.25 7.32 7.49 7.02 7.25 9,925,800 72,015,740 2,276,584

ACR targeting to raise ₧6B via corporate notes issue

By Lenie Lectura

@llectura

LCANTARA-LED Alsons Consolidated Resources Inc. (ACR) is raising P6 billion through the issuance of corporate notes. The company told the stock exchange Tuesday that it entered into an omnibus notes facility and security agreement for the refinancing of its fixed rate corporate notes amounting to P6 billion. The issuance will have 5-year and 7-year tranches, proceeds of which will be used to refinance outstand-

ing principal balance of its pesodenominated fixed rate notes and partly finance investments in renewable energy (RE) projects. ACR tapped Development Bank of the Philippines (DBP) as lead arranger for the transaction. ACR is Mindanao’s first privatesector power generator. The compa-

SERVICES ABS CBN 11.58 11.6 11.7 11.98 11.52 11.6 596,700 6,963,786 5.74 5.75 5.89 6 5.65 5.75 1,820,100 10,707,147 GMA NETWORK MANILA BULLETIN 0.445 0.45 0.45 0.47 0.45 0.45 2,080,000 952,950 11.5 12 11.5 12 7,000 81,318 MLA BRDCASTING 11.7 12 GLOBE TELECOM 2,002 2,012 2,046 2,048 2,002 2,002 93,980 189,450,520 -93,240,630 1,342 1,353 1,381 1,382 1,341 1,342 160,120 216,401,225 -88,923,105 PLDT 0.051 0.052 0.051 0.053 0.05 0.051 40,420,000 2,064,510 8,160.00 APOLLO GLOBAL CONVERGE 15.98 16 16.62 16.62 15.8 15.98 8,453,000 135,812,632 -17,531,908 4.42 4.49 4.32 4.49 4.32 4.42 694,000 3,061,030 -487,550 DFNN INC DITO CME HLDG 6.25 6.26 6.34 6.35 6.21 6.25 21,361,900 133,720,648 117,691 0.118 0.12 0.117 0.121 0.116 0.12 10,320,000 1,231,630 -177,300 ISLAND INFO 1.93 1.94 1.75 1.98 1.68 1.93 2,611,000 4,901,170 -9,450 JACKSTONES NOW CORP 4.24 4.25 4.55 4.6 4.25 4.25 12,379,000 53,815,070 -198,370 0.29 0.295 0.305 0.305 0.29 0.295 29,580,000 8,735,400 59,000 TRANSPACIFIC BR PHILWEB 3.13 3.14 3.25 3.3 3.14 3.14 2,415,000 7,729,750 -10,140 9.01 9.18 9.28 9.28 9 9.01 128,700 1,179,573 45,820 2GO GROUP 15.62 15.9 15.62 15.62 15.62 15.62 1,500 23,430 ASIAN TERMINALS CHELSEA 5.31 5.32 5.4 5.4 5.31 5.32 3,805,600 20,286,879 -1,604,067 50.9 51 51.5 52.2 49.2 51 1,843,310 93,842,087 -23,159,916 CEBU AIR INTL CONTAINER 126 126.5 125.2 127.3 124.9 126 1,376,390 174,050,002 19,336,021 15.6 15.76 16 16 15.5 15.5 7,400 116,328 27,900 LBC EXPRESS LORENZO SHIPPNG 1 1.02 0.99 1 0.99 1 32,000 31,800 8.63 8.64 8.55 8.88 8.16 8.64 11,751,700 100,611,532 -6,575,424.00 MACROASIA 2.15 2.17 2.35 2.35 2.1 2.15 3,434,000 7,605,690 METROALLIANCE A METROALLIANCE B 2.24 2.27 2.28 2.28 2.27 2.27 20,000 45,550 7.65 7.68 7.68 7.76 7.65 7.68 270,300 2,078,757 -147,070 PAL HLDG HARBOR STAR 1.53 1.54 1.53 1.56 1.5 1.54 7,059,000 10,771,850 207,120 ACESITE HOTEL 1.43 1.49 1.5 1.5 1.47 1.5 32,000 47,370 0.032 0.033 0.032 0.033 0.031 0.032 79,900,000 2,553,700 -28,800 BOULEVARD HLDG DISCOVERY WORLD 1.64 1.79 1.7 1.7 1.7 1.7 7,000 11,900 0.7 0.71 0.72 0.74 0.69 0.71 18,599,000 13,262,300 WATERFRONT CENTRO ESCOLAR 6.85 7 6.85 6.9 6.85 6.9 5,800 39,980 615 660 615 660 615 660 40 25,950 FAR EASTERN U 7.67 7.99 7.99 7.99 7.67 7.99 2,500 19,815 IPEOPLE STI HLDG 0.42 0.425 0.42 0.42 0.4 0.42 16,880,000 6,904,950 -57,300 4.4 4.45 4.62 4.62 4.33 4.45 973,000 4,284,910 BERJAYA BLOOMBERRY 8.8 8.85 8.91 8.94 8.55 8.8 7,318,600 63,855,837 -26,982,979 PACIFIC ONLINE 2.15 2.18 2 2.71 1.99 2.15 4,722,000 10,851,860 -137,370 1.91 1.92 1.8 1.93 1.8 1.91 2,852,000 5,391,500 -149,430 LEISURE AND RES MANILA JOCKEY 2.45 2.48 2.46 2.48 2.45 2.48 22,000 54,170 9,800 3.25 3.26 3.35 3.45 3.24 3.26 39,813,000 133,033,240 1,137,980 PH RESORTS GRP PREMIUM LEISURE 0.425 0.43 0.44 0.445 0.425 0.43 22,000,000 9,499,450 491,950 6.71 6.99 6.99 6.99 6.99 6.99 4,400 30,756 PHIL RACING 8.28 8.3 8.3 8.4 7.71 8.3 3,484,200 28,738,952 11,005,836 ALLHOME METRO RETAIL 1.68 1.7 1.73 1.74 1.65 1.68 9,336,000 15,717,600 -1,934,610 42.3 42.5 43.9 43.95 41.95 42.3 3,967,200 168,789,540 -84,621,875 PUREGOLD ROBINSONS RTL 67.7 67.85 69 69 67.6 67.85 434,820 29,496,288 -4,935,424 110.8 111 112.6 112.6 110.8 111 7,850 871,427 -768,340 PHIL SEVEN CORP 1.82 1.83 1.66 1.84 1.63 1.82 26,254,000 45,436,880 723,280 SSI GROUP WILCON DEPOT 16.62 16.7 16 16.92 16 16.7 4,793,300 79,222,512 47,920,134 0.395 0.4 0.41 0.41 0.385 0.4 4,830,000 1,917,350 8,000 APC GROUP EASYCALL 7.53 7.72 8 8 7.5 7.72 166,000 1,288,169 425 430 409 430 409 430 7,890 3,352,704 GOLDEN BRIA 3.78 4.35 3.78 3.79 3.78 3.78 11,000 41,660 IPM HLDG PAXYS 2.25 2.33 2.25 2.25 2.25 2.25 5,000 11,250 0.78 0.79 0.81 0.82 0.76 0.78 88,154,000 69,402,550 550,580 PRMIERE HORIZON SBS PHIL CORP 4.79 4.95 4.72 4.9 4.72 4.9 35,000 169,130 MINING & OIL ATOK 9.01 9.35 9.52 9.52 9 9.43 68,800 626,646 APEX MINING 1.72 1.73 1.8 1.8 1.7 1.73 34,992,000 60,903,890 -3,410,590 0.0008 0.0009 0.0009 0.001 0.0009 0.0009 4,217,000,000 3,806,100 1,800 ABRA MINING ATLAS MINING 5.33 5.35 5.4 5.4 5.28 5.33 589,600 3,151,459 -652,797 2.97 3.15 3.18 3.18 3 3.17 209,000 637,530 BENGUET A 0.255 0.26 0.26 0.26 0.255 0.26 80,000 20,750 COAL ASIA HLDG CENTURY PEAK 2.47 2.5 2.51 2.51 2.5 2.5 82,000 205,300 8.3 8.47 8.47 8.47 8.25 8.47 1,300 10,969 DIZON MINES FERRONICKEL 2.04 2.05 1.9 2.09 1.8 2.05 815,652,000 1,528,515,910 5,878,760 0.255 0.26 0.255 0.275 0.255 0.26 800,000 207,200 7,650 GEOGRACE 0.143 0.144 0.148 0.148 0.144 0.144 45,700,000 6,632,360 LEPANTO A LEPANTO B 0.146 0.15 0.151 0.151 0.14 0.15 930,000 135,210 -16,500 0.0097 0.0098 0.0097 0.0097 0.0096 0.0096 10,000,000 96,500 MANILA MINING A MANILA MINING B 0.01 0.011 0.01 0.011 0.01 0.01 39,800,000 412,900 -10,000 1.16 1.17 1.13 1.16 1.1 1.16 36,559,000 41,070,170 -810,570.00 MARCVENTURES 2.62 2.63 2.63 2.65 2.6 2.62 347,000 907,550 -26,400 NIHAO NICKEL ASIA 4.39 4.4 4.5 4.5 4.21 4.4 8,767,000 38,514,400 6,076,400 0.4 0.415 0.385 0.5 0.38 0.4 24,480,000 10,614,950 1,800 OMICO CORP ORNTL PENINSULA 0.67 0.68 0.69 0.69 0.67 0.68 688,000 465,930 4.75 4.77 4.93 4.93 4.58 4.75 6,715,400 32,055,210 -7,320,252 PX MINING SEMIRARA MINING 12.34 12.36 12.66 12.8 12.22 12.34 4,007,600 50,022,122 -726,214 UNITED PARAGON 0.0052 0.0053 0.0051 0.0054 0.0051 0.0053 36,000,000 189,400 7.08 7.14 7.08 7.19 7.02 7.14 436,200 3,095,840 ACE ENEXOR ORNTL PETROL A 0.01 0.011 0.011 0.011 0.01 0.01 15,100,000 162,600 0.01 0.012 0.012 0.012 0.01 0.01 869,700,000 8,752,500 -3,400 ORNTL PETROL B PHILODRILL 0.0086 0.0087 0.0087 0.0087 0.0086 0.0087 19,000,000 164,800 11.94 12 12.2 12.2 11.84 12 861,400 10,340,956 -438,378 PXP ENERGY PREFFERED HOUSE PREF A 100 101.2 101.1 101.2 101.1 101.2 9,900 1,001,830 -708,400 512 515 512 512 512 512 20 10,240 AC PREF B1 ALCO PREF B 101 102 101 101 101 101 80 8,080 502 508 510 510 502 502 1,610 808,300 AC PREF B2R CPG PREF A 101.5 102 102 102 101.5 101.5 270 27,500 101 103 101 101 101 101 100 10,100 DD PREF 110.4 113 113 113 113 113 11,810 1,334,530 FGEN PREF G GLO PREF P 505.5 510 510 510 510 510 80 40,800 998 1,007 1,007 1,007 1,000 1,000 950 950,525 GTCAP PREF A GTCAP PREF B 1,029 1,030 1,029 1,029 1,029 1,029 20 20,580 100.8 101 101.5 101.5 101 101 35,570 3,592,622 202,000 MWIDE PREF 100 101 100 100 100 100 550 55,000 PNX PREF 3A PNX PREF 3B 104 104.5 104 104 104 104 11,650 1,211,600 990 995 990 995 990 990 840 831,700 PNX PREF 4 PCOR PREF 2B 1,011 1,040 1,015 1,040 1,010 1,040 1,020 1,033,810 1,065 1,070 1,069 1,069 1,065 1,065 6,020 6,432,780 PCOR PREF 3A 1.6 1.8 1.6 1.6 1.6 1.6 3,000 4,800 SFI PREF SMC PREF 2C 78.15 78.35 78.4 78.4 78.05 78.2 18,940 1,484,196.50 76.1 76.85 76.3 76.3 76.1 76.1 51,590 3,926,159 SMC PREF 2E SMC PREF 2F 77.6 78.75 77.55 77.6 77.3 77.55 5,000 386,802.50 75.95 76 76.05 76.05 76 76 24,070 1,829,349 SMC PREF 2G SMC PREF 2H 75.8 76 76.1 76.1 76 76 38,500 2,926,010 76.55 76.9 76.9 76.9 76.9 76.9 1,930 148,417 SMC PREF 2I 76 76.1 76 76.1 76 76.1 22,420 1,703,948.50 SMC PREF 2J PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 11.2 11.38 11.1 11.1 11.04 11.04 15,000 166,200 5.55 5.59 5.67 5.69 5.52 5.55 333,600 1,869,600 152,561.00 GMA HLDG PDR WARRANTS LR WARRANT 1.08 1.09 1.03 1.14 1.03 1.09 1,592,000 1,721,810 SMALL & MEDIUM ENTERPRISES ALTUS PROP 13.02 13.16 13.2 13.2 12.94 13.02 382,900 5,007,234 -87,100 3.65 3.66 3.8 3.84 3.55 3.65 6,989,000 25,924,070 -787,940 ITALPINAS KEPWEALTH 6.6 6.65 6.52 6.7 6.4 6.6 183,500 1,188,242 -16,025 6.24 6.25 5.53 6.25 5.3 6.25 50,504,500 292,208,500 6,699,528 MERRYMART EXHANGE TRADE FUNDS FIRST METRO ETF 107 107.4 108.5 108.6 105.7 107 17,420 1,863,524 152,495

ny has a portfolio of 4 power facilities with an aggregate capacity of 468 MW serving over 8 million people in 14 cities and 11 provinces in the country’s second largest island. The company’s projects in the immediate pipeline include the P4.5billion 14.5 MW Siguil Hydro run of river hydroelectric power plant in Maasim, Sarangani Province and the P16-billion 105 MW San Ramon Power, Inc. (SRPI) baseload coal-fired power plant in Zamboanga City. Construction for the Siguil Hydro plant—ACR’s first foray into renewable energy, is currently ongoing and targeting completion in 2022 making the Siguil Hydro plant available to supply power to the

provinces of Sarangani and South Cotabato, General Santos City, and other areas in the Mindanao grid. The SRPI plant will begin construction in 2021 and will commence operating in early 2024 to deliver baseload power to Zamboanga City and nearby areas. For the long-term, the company is slated to focus on renewables with at least 7 more run of river hydroelectric plants in various stages of development. The next two hydro facilities in the pipeline are the 22 MW Siayan (Sindangan) Hydro plant in Zamboanga del Norte and the 42 MW Bago Hydro plant in Negros Occidental, the company’s first power venture outside of Mindanao.

PLDT links Catanduanes to fiber network

HOLDING & FRIMS ABACORE CAPITAL 0.58 0.59 0.6 0.61 0.56 0.58 33,004,000 19,284,640 -2,142,730 9.2 9.56 9.59 9.6 9.16 9.56 12,200 115,891 ASIABEST GROUP AYALA CORP 832 833 846 846 824.5 832 222,660 185,573,885 -34,241,215 46.6 47 47.8 47.8 46.5 47 1,105,600 51,925,700 3,642,035 ABOITIZ EQUITY ALLIANCE GLOBAL 9.65 9.66 9.85 9.9 9.55 9.65 6,577,600 63,580,432 -10,442,122 3.19 3.2 3.3 3.32 3.05 3.2 8,845,000 28,388,850 1,647,110 AYALA LAND LOG 6.6 6.75 6.4 8.5 6.4 6.6 911,800 6,372,258 -9,200 ANSCOR ANGLO PHIL HLDG 0.69 0.71 0.71 0.71 0.69 0.71 381,000 269,550 -8,400 0.92 0.93 0.93 0.94 0.9 0.93 2,465,000 2,256,720 ATN HLDG A COSCO CAPITAL 5.62 5.63 5.7 5.84 5.56 5.63 4,831,500 27,362,637 -7,713,434 5.39 5.42 5.47 5.53 5.3 5.42 10,595,100 57,272,385 -2,497,647 DMCI HLDG 9.35 9.54 9.29 9.6 9.29 9.59 55,100 514,990 -2,880 FILINVEST DEV FORUM PACIFIC 0.21 0.219 0.213 0.213 0.2 0.21 1,260,000 258,560 587 589 615.5 624 583.5 589 511,680 304,951,535 11,789,730 GT CAPITAL HOUSE OF INV 4.15 4.35 4.2 4.4 4.2 4.35 132,000 566,340 117,200 71.7 73.3 73.05 73.3 68.55 73.3 2,610,880 186,134,477 -44,720,427.50 JG SUMMIT 4.17 5.22 5.22 5.22 5.22 5.22 100 522 JOLLIVILLE HLDG KEPPEL HLDG A 5 5.17 4.98 4.98 4.98 4.98 5,000 24,900 0.82 0.83 0.84 0.85 0.81 0.82 747,000 611,770 LODESTAR LOPEZ HLDG 2.95 2.98 2.98 2.98 2.87 2.98 4,831,000 14,103,430 -502,290 13.64 13.7 13.8 13.88 13 13.7 5,436,100 73,563,306 -16,764,006 LT GROUP MABUHAY HLDG 0.53 0.56 0.53 0.58 0.53 0.57 307,000 167,110 1.73 1.88 1.73 1.73 1.73 1.73 7,000 12,110 MJC INVESTMENTS 4.19 4.2 4.39 4.4 4.17 4.19 45,137,000 191,597,540 -57,786,930 METRO PAC INV PACIFICA HLDG 4.2 4.24 4.25 4.25 4.2 4.2 83,000 349,450 176,400 0.86 0.89 0.84 0.93 0.84 0.89 2,522,000 2,220,800 -95,660 PRIME MEDIA REPUBLIC GLASS 2.61 2.93 2.5 2.5 2.5 2.5 7,000 17,500 1.16 1.18 1.26 1.26 1.18 1.18 83,000 98,180 SOLID GROUP 286 288 295 299 265.2 286 2,480 699,456 SYNERGY GRID SM INVESTMENTS 1,020 1,030 1,053 1,053 1,015 1,030 238,790 244,504,015 -167,903,985 129.6 130.3 135 136.9 124.5 130.3 569,330 74,415,473 -13,386,508.00 SAN MIGUEL CORP SOC RESOURCES 0.69 0.71 0.7 0.71 0.7 0.71 96,000 67,410 144 145 145 145.2 144 145 22,270 3,223,186 -1,782,515 TOP FRONTIER 0.23 0.235 0.236 0.237 0.226 0.226 790,000 180,460 WELLEX INDUS ZEUS HLDG 0.165 0.168 0.169 0.169 0.16 0.165 3,180,000 530,020 PROPERTY ARTHALAND CORP 0.65 0.66 0.68 0.68 0.65 0.66 2,412,000 1,595,650 11,560 8.01 8.2 8.19 8.2 8.19 8.2 7,100 58,150 ANCHOR LAND AYALA LAND 38.95 39 39.45 39.5 38.5 39 11,231,200 436,949,600 -19,516,490 1.25 1.26 1.25 1.26 1.22 1.26 381,000 473,760 ARANETA PROP AREIT RT 27.25 27.3 27.5 27.55 27.15 27.25 918,500 25,053,590 -4,346,020 1.59 1.6 1.62 1.63 1.59 1.59 2,130,000 3,402,740 -1,133,470 BELLE CORP 0.89 0.9 0.91 0.94 0.88 0.9 13,750,000 12,546,670 -1,052,150 A BROWN CITYLAND DEVT 0.8 0.83 0.8 0.84 0.78 0.8 526,000 426,500 8,000 0.152 0.154 0.153 0.156 0.151 0.154 3,730,000 569,650 121,690 CROWN EQUITIES CEBU HLDG 6.2 6.45 6.3 6.45 6.3 6.45 25,100 160,750 42 4.68 4.69 4.71 4.71 4.67 4.68 749,000 3,506,570 -2,368,710 CEB LANDMASTERS 0.475 0.48 0.445 0.475 0.445 0.475 29,990,000 13,806,700 -64,000 CENTURY PROP CYBER BAY 0.365 0.37 0.365 0.385 0.365 0.365 8,080,000 2,982,000 14.98 15 15.5 15.7 14.96 15 7,508,400 114,565,722 -35,825,790 DOUBLEDRAGON DM WENCESLAO 5.89 5.99 6.07 6.14 5.88 5.99 500,600 2,995,129 0.33 0.335 0.33 0.335 0.31 0.335 4,880,000 1,598,950 46,200 EMPIRE EAST 0.086 0.089 0.087 0.088 0.087 0.087 1,400,000 122,100 52,200 EVER GOTESCO FILINVEST LAND 1.1 1.11 1.11 1.14 1.07 1.1 55,434,000 61,100,330 -908,960 0.91 0.93 0.9 0.94 0.9 0.92 1,890,000 1,712,430 9,000 GLOBAL ESTATE 8990 HLDG 8.71 9 9.2 9.3 8.71 9 101,400 924,182 1.73 1.74 1.72 1.78 1.71 1.74 6,794,000 11,832,160 -5,740 PHIL INFRADEV CITY AND LAND 0.8 0.81 0.7 0.95 0.7 0.8 3,712,000 3,131,530 -26,780 MEGAWORLD 3.9 3.92 4 4.01 3.8 3.9 38,185,000 148,723,490 -39,793,480 0.53 0.54 0.55 0.56 0.52 0.53 100,289,000 53,818,390 -2,129,770 MRC ALLIED PHIL ESTATES 0.39 0.42 0.43 0.44 0.42 0.42 50,000 21,400 1.39 1.4 1.38 1.42 1.35 1.4 2,320,000 3,187,260 -10,800 PRIMEX CORP ROBINSONS LAND 17.98 18 17.9 18.82 17.28 18 21,160,100 383,447,262 54,475,126 PHIL REALTY 0.28 0.285 0.285 0.29 0.28 0.285 1,690,000 478,800 1.57 1.58 1.6 1.6 1.57 1.57 353,000 557,830 -183,120 ROCKWELL SHANG PROP 2.73 2.74 2.74 2.75 2.73 2.74 151,000 412,910 65,360 2.12 2.14 2.05 2.17 2.04 2.14 2,859,000 5,956,020 51,350 STA LUCIA LAND SM PRIME HLDG 38.35 38.5 38.6 39.45 37.9 38.5 12,815,800 490,762,780 -140,075,215 VISTAMALLS 5.09 5.1 4.76 5.17 4.66 5.09 792,000 3,935,050 -8,650 1.58 1.59 1.55 1.6 1.5 1.59 9,044,000 14,024,410 16,490 SUNTRUST HOME VISTA LAND 4.68 4.69 4.6 4.79 4.44 4.69 34,015,000 157,946,530 -1,514,550

www.businessmirror.com.ph

MUTUAL FUNDS

BUSINESSMIRROR FILE PHOTO

By Lorenz S. Marasigan @lorenzmarasigan

LDT Inc. has connected the Catanduanes island to its fiber optic backbone grid to ensure service resiliency in one of the country’s most typhoon-stricken provinces. “We fired up our submarine fiber optic cable which was recently installed in Catanduanes. As you know, Catanduanes was badly hit by the typhoons and most of our network facilities are down. We were the first to restore our service but it’s not enough,” PLDT VP Arvin Siena said. He added that the ongoing rollout of submarine fiber optic cable was timely, as it was completed during this time and the group was able to fire up its capacity to restore more areas in Catanduanes. “In other island provinces we want to make sure fiber optic in-

frastructure is put in place. We want to make it more resilient so when opportunities such as cloud infrastructure, data centers and BPOs come in, this will stand the calamities frequently visiting us,” Siena said. He noted that PLDT is also laying down underground fiber optic cables in the Bicol region and in Samar province, which are also frequented by typhoons. “We are continuously improving and expanding the network because the customers’ requirements keep changing over time, the demands are growing, the customers’ behaviours are changing and it is important for the capacity to be there ahead of the demand,” Siena said. PLDT has set a capital expenditures program of roughly P70 billion to improve its networks and meet the growing demand for Internet connectivity in the country.

Cotabato power firm to finish substation upgrade by end-2020

OTABATO Light and Power Company, the distribution unit of Aboitiz Power Corp., is expected to finish the ongoing major upgrade of its Malagapas substation by the end of the year. The project involves the installation of new electrical equipment, including the addition of a 15-MVA transformer, which is meant to control and protect the equipment at the site. The upgrades also allow for remote monitoring and operations, which is essential during the ongoing pandemic. “The project began in June 2020 and is expected to be completed and energized by the end of the year,” AboitizPower said in a statement on Tuesday. The company said the enhance-

ment project will address the growing power demand for business and residential customers throughout Cotabato Light’s franchise area. “The completion of the Malagapas Substation additional capacity will better serve the future electric demand while providing more reliable and continuous power to the Cotabato Light franchise area. The new equipment includes state-of-the-art remote monitoring and operating capabilities as well as protective devices, which will mean fewer power outages and faster restoration times for customers. This is Cotabato Light’s commitment to advancing business and communities,” said Cotabato Light President Valentin S. Saludes III. Lenie Lectura

November 24, 2020

NAV ONE YEAR THREE YEAR FIVE YEAR Y-T-D PER SHARE RETURN* RETURN STOCK FUNDS ALFM GROWTH FUND, INC. -A 229.18 -9.09% -7.17% -1.64% -9% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.3002 -12.04% -6.46% 1.24% -5.92% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 3.1653 -16.51% -10.89% -3.43% -13.94% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.8055 -10.78% -7.41% N.A. -10.3% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.7515 -11.55% N.A. N.A. -11.52% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 4.97 -6.82% -5.49% -1.63% -6.72% FIRST METRO SAVE AND LEARN PHILIPPINE INDEX FUND, INC. -A,4 0.7724 -9.73% -7.21% N.A. -9.51% MBG EQUITY INVESTMENT FUND, INC. -A 94.62 -14.21% N.A. N.A. -8.33% PAMI EQUITY INDEX FUND, INC. -A 47.1492 -8.22% -4.98% 0.03% -8.06% PHILAM STRATEGIC GROWTH FUND, INC. -A 492.88 -7.77% -4.98% -0.7% -7.49% PHILEQUITY ALPHA ONE FUND, INC. -A,D,5 1.0702 N.A. N.A. N.A. 3.89% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.1699 -9.56% -5.39% -0.23% -9.09% PHILEQUITY FUND, INC. -A 34.7751 -8.58% -4.83% 0.4% -8.24% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A 0.9222 -9.38% N.A. N.A. -9.42% PHILEQUITY PSE INDEX FUND INC. -A 4.8209 -7.77% -4.49% 0.76% -7.71% PHILIPPINE STOCK INDEX FUND CORP. -A 806.33 -7.58% -4.39% 0.65% -7.53% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.7277 -17.03% -8.4% -3.46% -14.53% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 3.645 -13.59% -1.1% -13.4% -6.64% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 0.9234 -7.83% -4.7% 0.54% -7.73% UNITED FUND, INC. -A 3.3291 -8.89% -4.1% 0.88% -8.87% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C 108.3339 -7.39% -4.1% 1.44% -7.37% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ATRAM ASIAPLUS EQUITY FUND, INC. -B $1.1608 17.9% 0.81% 5.04% 12.87% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.5945 19.04% 8.51% N.A. 15.65% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.6569 5.21% -3.27% -1.01% 6.02% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.2778 2.23% -1.98% 0.96% 4.43% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.6342 0.26% -1.27% -0.7% 0.1% FIRST METRO SAVE AND LEARN F.O.C.C.U.S. DYNAMIC FUND, INC. -A,1 0.1993 -13.72% N.A. N.A. -12.78% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.9707 0.56% 0.25% 1.92% 0.46% PAMI HORIZON FUND, INC. -A 3.7995 0.39% -0.5% 1.21% 0.27% PHILAM FUND, INC. -A 16.9928 0.37% -0.59% 1.13% 0.19% SOLIDARITAS FUND, INC. -A 2.1002 -1.58% -1.77% 0.87% -1.03% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.5842 -7.1% -3.09% -0.09% -7.23% SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D 1.0251 1.21% N.A. N.A. 0.93% SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D 0.9554 -4.14% N.A. N.A. -4.11% SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D 0.9397 -5.44% N.A. N.A. -5.39% SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.8905 -8.7% -3.83% -0.88% -8.65% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES 2.7% 2.02% 2.59% COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03919 2.73% PAMI ASIA BALANCED FUND, INC. -B $1.1177 11.32% 1.65% 4.42% 10.44% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $4.3295 12.95% 6.21% 6.55% 10.71% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A,3 $1.1952 7.19% 3.44% N.A. 5.89% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 369.79 3.77% 3.22% 2.77% 3.31% ATRAM CORPORATE BOND FUND, INC. -A 1.8978 -1.48% 0.08% -0.02% -0.22% COCOLIFE FIXED INCOME FUND, INC. -A 3.2094 3.34% 4.61% 4.88% 2.93% EKKLESIA MUTUAL FUND INC. -A 2.2918 3.46% 2.95% 2.4% 3.08% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.451 4.5% 3.42% 2.12% 3.9% PHILAM BOND FUND, INC. -A 4.6244 6.61% 4.49% 3.07% 5.75% PHILAM MANAGED INCOME FUND, INC. -A,6 1.3161 5.37% 4.41% 2.55% 4.73% PHILEQUITY PESO BOND FUND, INC. -A 3.9812 5.77% 4.42% 2.87% 5.09% SOLDIVO BOND FUND, INC. -A 1.0371 8.56% 3.97% 2.53% 7.55% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 3.1948 4.85% 4.76% 3.51% 3.88% SUN LIFE PROSPERITY GS FUND, INC. -A 1.7472 3.85% 4.04% 2.87% 2.71% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. -A $482.11 3.32% 2.69% 2.9% 2.94% ALFM EURO BOND FUND, INC. -A Є218.48 -0.52% 0.79% 1.14% -0.6% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.266 5.15% 3.71% 2.94% 4.87% 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 $1.0913 0.31% 0.8% -0.21% -0.4% PHILAM DOLLAR BOND FUND, INC. -A $2.5246 5.36% 3.96% 3.59% 5.04% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.0620929 2.99% 2.6% 2.28% 2.97% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $3.2173 1.56% 2.19% 2.6% 1.33% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC. -A 129.52 3.32% 3.33% 2.54% 2.93% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A 1.047 1.81% N.A. N.A. 2.02% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.2942 2.67% 3% 2.62% 2.31% 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 1.0822 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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Entrepreneur BusinessMirror

Editor: Vittorio V. Vitug • Wednesday, November 25, 2020 B3

From VHS tapes to fiber optic biz: Emerging telco magnate Dennis H. Uy bags entrep award Pangasinan café boosts tourism, village livelihood amid pandemic By Hilda Austria Philippine News Agency

AN FABIAN, Pangasinan—The Highlands Café in the Sky at Barangay Lipit Tomeeng is the newest tourist attraction in Pangasinan as it offers scenic, instagrammable view, and scrumptious food while employing college students here. The café, which was opened on November 14, is now a hit with an average of over 220 guests daily, including Pangasinense vloggers as the owners used social media to promote the latest attraction here. Millennial vlogger and online seller Angeline Asaytono Gali, 24, a native of Barangay Lipit Tomeeng, together with her friend and classmate, Harold Keith Recede, thought of putting up a café in the mountainous area of the town with bikers, or cyclists as their target market. “The lot, which was previously owned by my brother, is just adjacent to the biker’s den. Many bikers go there as they enjoy the trail leading to the Tatlong Bundok mountain ranges at the neighboring Barangay Inmalog Sur, some 20 minutes to 30 minutes away from our café,” she said in an interview on Monday. However, the café trended online and more tourists mostly from the different parts of the province come to enjoy the view of the lowlands in the morning, or the magnificent sunset at dusk while sipping their coffee and eating their meals at the tables and chairs in the open area or under nipa roofs. Some parts of the café, Gali said, were Bali Indonesia-inspired. Most of the furniture and structures are made of bamboo and wood. Gali said they were overwhelmed by the patronage their café is getting but also thankful as they were able to hire more college students to work for them. The café offers coffee (hot and iced), milk teas, juice drinks, and meals such as buffalo wings, and different kinds of tapsilog. Gali said their barista, Reggie, was a former overseas Filipino worker in Saudi Arabia. “We added one more bartender, one assistant cook, and two servers to our original manpower. We wanted to do two shifts for our working student employees here,” she said. She added that the working students are taking up Hotel and Management Restaurant courses in their tertiary education.

By Ashley Manabat

NGELES CITY—As a testament to his continued success in business and service, Converge Information, Communications and Technology (Converge ICT) Solutions Founder and CEO Dennis Anthony H. Uy has been bestowed anew with the Master Entrepreneur Award by the Asia-Pacific Enterprise Awards (APEA) for 2020 on Friday.

The award is given to “outstanding entrepreneurs who have demonstrated exemplary attributes that help them serve as role models for other emerging entrepreneurs.” Uy’s award came on the heels of the company’s back-to-back Asia CEO awards last October—Entrepreneur of the Year Award and Converge ICT’s Circle of Excellence Technology

million of capex over the next 18 months to roll out its network to tens of thousands of communities across the Philippines.”

@ashleymanabat

Company award as well as the company’s appearance as a finalist in the CX Asia Excellence Awards. “The awards are a testament to the Converge’s philosophy of innovating with purpose,” said Uy. Converge ICT’s continuing success can be attributed to its sound fundamentals and business strategy according to Clark Investors and Lo-

Humble beginnings

cators Association (CILA) president Francisco Villanueva, who made the statement shortly after Converge’s initial public offering in the Philippine Stock Exchange (PSE). Converge has announced that it is on track to meet its goal with its P29 billion capital expenditure (capex) program in the next year and a half. Michael Vukovich, Converge’s chief financial adviser said in an earlier report, “The company plans to deploy about P29 billion, or $600

UY was born in Fujian, China on June 1, 1966. His parents were humble government workers. Uy migrated to Angeles City when he was 11 years old to join some of their relatives. As a kid, Uy worked for his uncle Johnny Uy, a naturalized Filipino citizen, as a maintenance boy, fixing and cleaning refrigerators and freezers. While he was in high school at the Chevalier School in Angeles City, he started his first business selling Betamax and VHS tapes which he bought after his classes from Greenhills in San Juan, Metro Manila. From there, Uy collaborated with his elder brother Jack and formed Jack’s Video, a Betamax and VHS rental business in Angeles City. Uy’s business soon evolved into providing cable television to Angeles City residents and then to the nearby Clark Freeport Zone and eventually to the rest of Pampanga and Central Luzon with the Angeles City Cable

and Television Network. It was not long before Uy began acquiring other local cable television providers in Pampanga and the region. Uy also ventured into broadband and fiber optics, starting ComClark Network and Technology Corp. in 1996 in his backyard at his residence in Angeles City. It later evolved into Converge, the fiber optics provider that steadily expanded until its success skyrocketed in 2019 when one of the world’s biggest private equity firms, Warburg Pincus, took interest in the local cable operator and invested $250 million in the little telco company that could very well make it to the top. Converge prides itself as the “first pure end-to-end fiber Internet network in the country.” Fiber optics offer greater speed and bandwidth, and now that the new normal is encouraging working from home, the demand for faster Internet is greater than ever. Indeed, Uy is on track in his agenda of achieving digital transformation in the country with faster Internet speed through fiber to the home Internet connection amid the Covid-19 pandemic.

Citi Philippines helps jump-start recovery of restaurant businesses By Rizal Raoul S. Reyes @brownindio Contributor

iti Philippines is helping restaurateurs bounce back from the impact of Covid-19, even as the multinational company hopes the easing of lockdown restrictions and the coming Christmas season will entice more Filipinos to gradually go back to their activities they used to enjoy before the pandemic. “Since March, when the country faced the challenges of Covid-19, Citi Philippines has worked hard to support its clients, employees and the community. We want to assist Citi credit cardholders in every aspect of their lives, whether that’s dining in their favorite restaurants safely, or shopping online,” said Citi Philippines Consumer Business Head Manoj Varma at a recent virtual news briefing. To help jump-start the recovery of restaurateurs, Citi formed partnerships with the biggest brands in dining and shopping to provide the

best experience for customers. For lovers of casual dining, Varna said, Citi Philippines offers great options for casual dining across the Metro’s customer hot spots in Makati, Taguig, Ortigas, Mandaluyong, San Juan, and Pasig, Quezon City, Pasay, and Alabang. With over 250 spots for dine-in and take-out at up to 30 off such as Bo’s Coffee, Yellow Cab, Pancake House, Hap Chan, Tim Ho Wan to choose from, cardholders can keep on delighting in comfort. Varna said finer dining experiences offer curated dining exclusives at up to 50-percent off in upscale establishments such as Makati ShangriLa’s Circles and Shang Palace, Edsa Shangri-La’s Heat, Sheraton’s Oori and S Kitchen, and Melo’s so cardholders can keep on experiencing finer dining.” Finest Deal is Citi’s most popular fall-off-your-seat dining promotion that started in 2019 and is set to continue until March 27, 2021. Cardholders are invited to keep on enjoying this finest deal of 50-percent off every Saturday at any The

Manoj Varma is a consumer business head, Citi Philippines.

Mukul Sukhani is a cash & loans director, Citi Philippines.

Bistro Group restaurant for a minimum bill of P2,000 and a maximum bill of P5,000. “We offer this commitment to help the restaurant business bounce back and our dine-in card holders as well,” he explained. In case cardholders are looking for delivery on weekends, Varna said foodpanda can provide the service and get a 10-percent off once every Friday to Sunday for a minimum spend of P800 and a maximum discount of P250 until December 20, 2020.

“We have over 100 dining partners with over 500 outlets nationwide. We know that our customers will not always eat out, but many would still like to enjoy eating from the safety of their homes so these promotions are open for take-out on top of dine-in options. We also partnered with foodpanda, which delivers from over 30,000 restaurants in the country. No other bank is able to provide the same exclusive and real-time access to so many merchants, with highly competitive promos and offers,” Citi Philippines

Cards and Loans Director Mukul Sukhani pointed out. Moreover, Sukhani said Citi’s Online Weekend Offers will boost e-commerce companies through its online deals offered across several categories like grocery and essential goods, household items, clothing, small appliances and gadgets. The best thing about it? These are available weekly on Fridays and Saturdays: Every Friday, cardholders can enjoy the following shopping and grocery deals: n 10-percent off from 12 noon to 2 p.m. at Lazada for a minimum spend of P3,000 and a maximum discount of P400 until February 19,2021. n P300 off at Metromart for a minimum purchase of P5,000 until December 18, 2020. Every Saturday, cardholders can get 30-percent off at Zalora for a minimum spend of P2,500 and a maximum discount of P1,000 until March 13, 2021.

Support for local entrepreneurs in online marketplace pushed Roderick L. Abad @rodrik_28

Harold Keith Recede (left) and Angeline Asaytono Gali (right), both millennials and owners of the trending Highland Café in the Sky in Barangay Lipit Tomeeng, San Fabian, Pangasinan, pose in front of their café. The café offers a scenic view and delicious food while providing livelihood to college students from the barangay. Photo courtesy of Highlands Cafe in the Sky

he Covid-19 pandemic may have forced some businesses to close shop due to profit loss, but virus fears, ironically, have opened an opportunity for others to thrive in today’s digital economy. This is apparent in the rise of webbased businesses in the country from 1,700 in March to over 75,000 in September, according to Department of Trade and Industry-Philippine Trade Training Center (DTI-PTTC) Officer-in-Charge Executive Director Nelly T. Dillera. Alongside the e-commerce explosion is the emergence of new hero entrepreneurs—home-based businesses that valorize local products, heirloom recipes, and regional pride. “Culture is the basis of how we can and should develop products, from food to wearables. What is important is preserving them while adapting to the new global economy. E-logistics has made it possible for local products and crafts to be brought to the homes of the people,” she told reporters during a recent webinar dubbed “Certified Lokalista: Champions of Culture, Heroes of E-Commerce.” To help these micro, small and medium enterprises (MSMEs) digitize their trade, she noted that they “did a back-

ward integration on helping people to start their own business and onboard e-commerce.” One support that the DTI-PTTC will be providing these new breed of entrepreneurs is training in vital areas like the digitization of their processes, business finance and operations, business marketing, business human resources and organization, and working in the logistics and supply chain. Seeing their significant contribution to spur economic activities in these trying times, support from the business sector also comes in, with the initiative of J&T Express Philippines that encourages the consuming public to buy local, patronize and support MSMEs, thus promoting regional products to a larger national audience. Launched this year, the Certified Lokalista campaign will honor homegrown entrepreneurs with a Certified Lokalista badge that will serve as a seal for them as J&T trusted sellers. With their inspiring stories that have paved the way for the promotion of Filipino goods, they will be feted with P20,000 worth of free shipping by the courier service provider. “Filipino entrepreneurs, especially those who went above and beyond amid the mobility restrictions brought about by the pandemic, deserve to be supported and recognized for their creativity and tenacity,” said Zoe Chi, vice president of

J&T Express Philippines. Beyond the rewards is the rare chance for them to influence more sellers to also represent their own regional products online. Four featured Certified Lokalistas, namely Maria Todi, Katherine Jordan, Rica Dakudao-Buenaflor, and Rheeza Santiago-Hernandez, are worth emulating for their own homegrown products and produce that gave their respective regions their unique advantage. Todi, founder of the School of Living Tradition, based in Lake Sebu, South Cotabato, showcased native artisans design and weave T’boli shirts, bracelets, necklaces, and rugs, among other heirlooms, for their intricacy and beauty. Because these products are a collective effort, she said that buying from the tribal group means “not just helping one weaver or organization, but helping a community.” On the other hand, Katherine Jordan, marketing head of the Leyte-based online food store Mary’s Abuyog Special Tsokolyet Moron, atbp., presented their mouthwaterng chocolate moron, binagol, sagmani, suman latik, and pili nuts—some of the delicacies that have become popular outside their region. Meanwhile, Rica Dakudao-Buenaflor, founder of Que Rica, introduced their fine-tasting products crafted in Bicol. Suggesting that the province should

be known as the “land of Keto” because of its nutritious food, she pointed out that “we produce the healthiest recipes when it comes to heart-healthy fats. Coconut milk is high in fat and with no carbohydrates. The pili nut contains the highest healthy-fat content, and 95 percent of the overall production of pili nut comes from Bicol.” Taking pride of their culinary heritage, Bulacan-based Rheeza SantiagoHernandez said that it’s about time that the normally reticent Bulaqueños should start promoting the dishes that they are known for. Citing the hamon bulaqueña, the culinary whiz said: “It is historical. It was served during the liberation of Bulacan in 1898 during the time of General Gregorio del Pilar, who was then a lieutenant colonel. Other national heroes who have dined on it are Jose Rizal and Apolinario Mabini.” Believing that “local is premium,” GeiserMaclang Marketing Communications Inc. Co-founder Amor Maclang encouraged the local market to patronize these regional entrepreneurs, especially during digital double-day sales. “It is because of these men and women that our local products are finally getting the recognition they deserve! Generations-old family recipes, regional specialties, and other proudly Filipino wares are becoming stars on these e-commerce platforms,” she stressed.

Banking&Finance BusinessMirror

Wednesday, November 25, 2020

State stance vs Covid to help banks avoid negative ratings

By Bianca Cuaresma

@BcuaresmaBM

ESPITE the negative outlooks on banks, Fitch Ratings Inc. said negative rating actions on Asian banking systems are not expected to come aplenty if governments show signs that they can bring down Covid-19 cases effectively.

In a recent special report on emerging market banking systems, Fitch Ratings highlighted the risk of downgrades in 2021 as 50 percent of emerging market bank systems are assigned a negative outlook. “The negative outlooks predominantly reflect potential deteriora-

tion in banks’ financial metrics as a result of the economic downturn driven by the pandemic,” Fitch Ratings said. “However, they also reflect risks to the credit profiles of some emerging market sovereigns and bank owners.” A negative outlook means that a

downgrade is imminent in the next 12 months to 16 months if conditions worsen or continue to be unproductive. Fitch Ratings currently put the Philippine banking system on a negative outlook. In Asia, Fitch Ratings said while operating environments remain weak in most emerging markets banking systems due to the effects of the global pandemic and economic shock, growth opportunities are appearing where governments are in better control of the pandemic – such as greater China and parts of South-East Asia. “Several markets must still navigate pre-pandemic challenges such as India [asset quality, capital shortfalls], Thailand and Indonesia [asset quality, competitive pressures], Malaysia and China [high leverage], the Philippines [high credit growth] and Sri Lanka [macroeconomic risks],”

Fitch Ratings said. Fitch Ratings said the relative stability of emerging market banks owe largely to significant loss absorption buffers, potential support from either domestic sovereigns or foreign shareholders, and Fitch Ratings’ base case economic forecasts envisage economic recoveries in 2021 and beyond which should help banks to protect their financial profiles. “The percentage of negative outlooks has risen, but we see less risk of further negative rating actions in the absence of a resurgence of the virus (and measures to contain it) and/or further actions taken on the sovereigns or institutions underpinning banks’ support-driven IDRs [issuer default ratings],” Fitch Ratings said. “The latter is particularly relevant for a large part of the portfolio in China, Korea, the Philippines and India [whose sovereign rating outlook is negative],” it added.

Pagcor sets aside ₧2 billion for evacuation centers By Bernadette D. Nicolas @BNicolasBM

espite suffering significant revenue losses due to the suspension of gaming operations during the lockdown, state-run Philippine Amusement and Gaming Corp. (Pagcor) earmarked P2 billion for the construction of multi-purpose evacuation centers (MPECs) for typhoon-hit provinces. Pagcor Chairman and CEO Andrea D. Domingo said local government units do not have enough evacuation centers whenever there is a disaster. “We want to fill in that gap. Our MPECs will be designed to withstand strong typhoons so that evacuees will feel safe and comfortable while they

are away from their homes,” Domingo said in a statement late Monday. “The Filipinos have suffered a lot this year—from the global pandemic to a series of destructive typhoons,” she added. “Hence, despite our revenue losses, we have committed to provide a long-term solution to the most vulnerable sectors and communities.” As early as 2018, Domingo said the state-run gaming agency has already conceptualized the MPEC project, which is being spearheaded by Pagcor President and Chief Operating Officer Alfredo C. Lim. Pagcor vowed to directly turn over the funding to beneficiary-LGUs for the establishment of MPECs once all details of the project are finalized. The gaming agency has initially

approved 32 MPECs to be constructed in 31 sites. These areas include Albay, Aurora, Batangas, Camarines Sur, Capiz, Ilocos Sur, Laguna, Mountain Province, Marikina, Northern Samar, Oriental Mindoro, Pampanga, Quezon, Romblon, Southern Leyte, Tarlac and Zamboanga del Sur. Pagcor will adopt three schemes of donation depending on the site and need of the province. The first scheme, which has a budget of P12.7 million, includes the provision of a basketball court that will serve as an alternative evacuation center. The second scheme with a budget of P27.9 million includes the provision of a covered court with bleachers and toilets. The third scheme, with P50 mil-

lion budget, includes a two-storey full-scale MPEC with a complete facility, packed room for goods and a badminton-type area on the second floor. Pagcor saw its net income from January to September plunging by 97.3 percent year-on-year especially due to the shutdown of gaming operations in mid-March to contain the spread of Covid-19 in the country. Based on its statement of comprehensive income, Pagcor’s net income for the 9-month period dropped to P132.67 million this year from P4.97 billion a year ago. The country’s gaming regulator suffered a 60-percent decline in its income from gaming operations to P22.33 billion as of end of third quarter from P55.767 billion in 2019.

Dutch bank’s PHL office launches digital pay solution

NG Bank NV’s Philippines office launched on Tuesday an online payment solution application, which charges zero fees on transactions. The newest product offering of the all-digital bank, ING Pay, is aimed at making payments convenient through the following features: bills payment, virtual Visa debit card and real-time InstaPay transfers. “We want to make payment now really seamless,” ING Philippines Head of Retail Banking Mohamed Keraine said during the launch. He noted that the ING has “no plans to introduce any fees in the coming time.”

The app currently has over 70 preenrolled billers and merchants, including utility, insurance and credit card companies. The users can access and use their virtual Visa debit card via the mobile app, allowing them to keep track of the card usage anytime. But it will also be available as a physical card, ING said, noting that the bank will be making announcements on its availability. Meanwhile, customers can enjoy 5-percent cash back on all purchases—amounting to up to P1 million— via the debit cards until December 31. This translates to a maximum of P50,000 in cash back. ING said there is no minimum spend per transac-

tion. Keraine also stressed that all the transactions in the mobile app are secure and safe. “When you look at digital financial services, we are also raising the bar in terms of digital security, safety and also making the customers more in control,” he said. The bank installed a security measure on the ING Pay account, which asks the users to verify personal details when accessing the account in a different phone. In addition, ING said there is a maximum deposit insurance of P500,000 per depositor. ING Philippines Country Manager Hans B. Sicat said that the coronavirus pandemic prompted financial

institutions to understand better the changing banking needs and behavior of the clients. “Many say that Covid-19 has driven all companies to digitalize,” he said. “The pandemic not only accelerates digitalization, it also highlights the importance of understanding the customers’ needs in this financial ecosystem.” Next year, ING said it will be introducing consumer loans in its portfolio of offerings. “We are really customer-centric organization and you can expect that in the course of 2021, the ING Lend offer is gonna be introduced,” Keraine said. Tyrone Jasper C. Piad

Responding to the needs of overseas Filipino workers

N 2019, the Bureau of the Treasury (BTr) entered into a partnership with the Financial Executives Institute of the Philippines (Finex) through the latter’s educational arm, the Finex Academy. As BTr’s lead private sector partner for its Premyo savings bond issuance, Finex Academy promotes investor education focusing on these pesodenominated fixed-income securities with quarterly interest payments. The financially inclusive bonds carry corresponding raffle numbers through which randomly selected bondholders have a chance to win cash and noncash prizes, including condo units. With the overwhelming public response to the initial offering last year, the “Premyo Bonds Para Sa Bayan” or P2-billion offering was recently launched by the BTr and Finex Academy. This time, they tapped the Overseas Filipino Bank (OFBank) to ensure that Filipinos abroad would be able to purchase the P2-billion bonds conveniently.

Finex free enterprise Joseph Araneta Gamboa Wholly owned by state-run Land Bank of the Philippines (Landbank), the OFBank is the country’s first branchless and digital-only bank. It provides reliable and secure banking solutions to overseas Filipino workers (OFWs) and their beneficiaries. Landbank acquired the century-old Philippine Postal Savings Bank in 2016 and converted it into OFBank, which officially opened in 2018. OFWs are estimated to number 12.5 million scattered across more than 150 countries and territories in six continents. According to the latest data from the Department of Foreign Affairs (DFA), at least 20 percent of

them are based in the Middle East– where many OFWs were treated like private property under the kafala system. This sponsorship system dates back to the 1950s, with the employers or kafeel–which means “to take care of” in Arabic–guaranteeing the protection of their migrant employees ranging from top executives to skilled workers and domestic helpers. However, the system became prone to abuse by some employers who wanted absolute control of their employees. Case in point was the gruesome murder of OFW Joanna Demafelis by her Lebanese-Syrian employers in Kuwait two years ago. This triggered a diplomatic crisis and enraged President Rodrigo Duterte, who imposed a total deployment ban for Filipinos planning to work in the Arabian Gulf country. Foreign Affairs Secretary Teodoro L. Locsin Jr. and his predecessor, Rep. Alan Peter S. Cayetano, were instrumental in the fight against the kafala system that kept OFWs in virtual

bondage. Under Cayetano’s watch, the DFA led the charge in dismantling this abusive system by spearheading the international adoption of the Global Compact for Migration (GCM). At that time, he said “our experience in the promotion of the welfare and protection of the rights of Filipino migrants firmed up our commitment to stirringly advocate for the rights of all migrant workers.” When the US withdrew from the United Nations campaign for a global agreement on migrant rights, the Philippines took the lead and Cayetano reached out to the country’s Western allies for support, ultimately resulting in the GCM’s signing. At the sidelines of the 2018 UN General Assembly in New York City, he reaffirmed the Philippines’s commitment to the GCM on behalf of all migrant workers worldwide. Partnering with him in the crusade against this modern-day slavery was then Philippine Ambassador to the UN Locsin, who was part of

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‘Holiday bonus’ promise a new scam, bank warns By Tyrone Jasper C. Piad @Tyronepiad

nion Bank of the Philippines warned the public of a new phishing scheme amid the holidays. In an advisory, the Aboitiz-led bank said that the online scam is tricking the public into clicking a suspicious link because of a promise of a “holiday bonus.” “Beware of the new phishing tactic saying that you can receive a holiday bonus worth P7,000 by clicking on an email link,” UnionBank said. “We remind everyone not to click on the link.” The bank has been disseminating information on potential online scams given that more fraudsters are taking advantage of the aggressive digital shift amid the lockdown measures because of the coronavirus pandemic. Earlier, it noted that there are phishing emails telling the clients that their accounts were closed for illegal activities and they need to click on a link provided to verify the email. UnionBank also reminded the public to protect their card details when transacting online. It is best to shop only on legitimate websites and e-commerce platforms, it added.

Kaspersky forecast

IN a separate statement, Kaspersky Lab ZAO said that attackers will continue to exploit the Covid-19 pandemic. “While it did not prompt changes in tactics, techniques and procedures of the threat actors, the virus has become a persistent topic of interest,” the Russian cybersecurity firm said. “As the pandemic will continue into 2021, threat actors will not stop exploiting this topic to gain a foothold in target systems.” Kaspersky Lab cited other targeted threat predictions for 2021 include more countries using legal indictments as part of their cyberstrategy. “Kaspersky’s previous predictions of ‘naming and shaming’ of APT [advanced persistent threat] attacks carried out by hostile parties has come true, and more organizations will follow suit,” the company said. “Exposing toolsets of APT groups carried out at the governmental level will drive more states to do the same, thereby hurting actors’ activities and developments by burning the existing toolsets of their opponents in an effort to retaliate.” Kaspersky added it also predicts increased targeting of network appliances. “With remote work, organizational security has become a priority, and more interest towards exploiting network appliances such as VPN [virtual private

the crucial negotiation process. Two months later, when the GCM was adopted during the intergovernmental conference held in the Moroccan city of Marrakech, Locsin had taken over the DFA portfolio and considered the GCM of personal importance to him. “It provides a 360-degree approach to international migration governance, covering the whole cycle from pre-deployment to return and reintegration,” he emphasized. The GCM is the first-ever UN agreement anchored on a comprehensive and holistic approach to all dimensions of international migration. It is grounded in the values of state sovereignty, human rights, responsibility sharing, and nondiscrimination. Gulf countries such as Bahrain, United Arab Emirates, Kuwait, and Qatar have since made amendments to their labor laws effectively abolishing the kafala system. Earlier this month, Saudi Arabia announced the easing of contractual restrictions on foreign work-

network] gateways will emerge,” Kaspersky said. “Harvesting credentials to access corporate VPNs via ‘vishing’ remote workers may also appear.” The company said that it also predicts cyberthreats would be marked by demanding money “with menaces.” “Changes in ransomware gangs’ strategy is leading to the consolidation of a still diverse but rather tight ransomware eco-system,” Kaspersky said. “Following the success of previous targeted attack strategies, more major ransomware players will start focusing their activities and obtaining APT-like capabilities–with the money the gangs have extorted they will be able to invest large funds into new advanced toolsets with budgets comparable to that of some of the state-sponsored APT groups.” Kasperky noted it expects more disruptive attacks will result from a directed orchestrated attack designed to affect critical infrastructure or collateral damage—“as our lives have become even more dependent on technology with a much wider attack surface than ever before.” The company added that as adoption of 5G technology increases and more devices become dependent on the connectivity it provides, attackers will have a greater incentive to look for vulnerabilities that they can exploit.

Measures in place

Amid the increasing phishing scams, the Aboitiz-led bank said in an earlier interview with the BusinessMirror that it is ensuring that cybersecurity measures are always in place. “We continuously invest in strong cybersecurity technology that ensures strong customer protection,” UnionBank Chief Information Security Officer Joey Rufo said. Rufo said that UnionBank is also employing banking industry practices, including 24/7 security operations center monitoring and Payment Card Industry Data Security Standards (PCI-DSS). PCI-DSS outlines guidelines on information security for firms handling credit cards to increase data control and avoid fraud. The Aboitiz-led bank saw its net earnings drop by 0.9 percent to P8.5 billion in the first nine months due to higher provisions for loan losses. Revenues, meanwhile, grew by 33 percent to P31.8 billion for the period, thanks to 36-percent increase in net interest income. As of end-September, the bank’s total assets stood at P758 billion. UnionBank shares inched up by 0.08 percent, or 5 centavos, to close at P66.05 each amid the 0.97-percent drop for the benchmark index on Tuesday.

ers starting March 2021. This will significantly improve the working conditions of some 800,000 OFWs who will be allowed to transfer to another employer without the current employer’s consent and to travel outside the desert kingdom without the employer’s approval. Labor reform initiatives are also expanding beyond the Middle East. For instance, the Philippines and Canada are undertaking a joint project for the first governmentto-government pilot testing of the international recruitment integrity system to promote ethical work principles. Such actions would allow future generations of OFWs to be from the shackles of poverty, intolerance, and slavery. Joseph Gamboa is the co-chairman of the Finex Week 2020 Annual Conference, chairman of the Finex Business Columns Subcommittee, and director of Noble Asia Industrial Corp. The views expressed herein do not necessarily reflect the opinion of these institutions and the BusinessMirror.

www.businessmirror.com.ph

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Editor: Gerard S. Ramos

• Wednesday, November 25, 2020

Working with cross-functional teams

e were launching a new Learning Management System and it was the first time I was meeting with people from IT and from other business units. I could not understand some of the terms but after reading a few articles and watching tutorials online, I began to get a grasp of what everyone else was saying. It was the first time I became part of a cross-functional team. It was humbling because I realized I was caught up in my own department and our work that I had forgotten how interconnected we all were in the organization. I learned so much about myself and others because of that experience. What is a cross-functional team? This is a group composed of individuals from different teams in the organization which are put together to work on a common goal. Some projects require an interdisciplinary approach to provide various perspectives from the entire organization, and to provide insight into how an objective can be effectively implemented. Why have a cross-functional team? Since these groups come from different areas of the organization, it can help in breaking down the group silos. Team members have a better appreciation of the work of others and how each group contributes to the entire organization. This in turn encourages an enterprise mindset so people will start thinking in terms of what is good for the organization rather than thinking only for their own department. It will also become easier for a project to gain traction especially when you have project champions in key departments and offices. Each member of the team also comes with their own experiences and best practices which will enrich other’s perspectives on how to do things more efficiently. Learning from different perspectives makes work more interesting and opens new opportunities for you to discover and appreciate how other groups contribute to the bottomline. Having different perspectives will also foster innovation and allow project members to be creative in how they can contribute in attaining project goals. An added benefit of cross-functional groups is the reduction of turnaround time by increasing collaboration among departments. Since people have worked together before, it becomes easier to extend or ask for help when needed. It can also be a way of promoting diversity, not just because of the involvement of the different departments, but also the involvement of different

genders, ages, tenure and skills set. A by-product is the increased engagement because even after the project completion, people can catch up with each other in the hallways or in social gatherings. Cross-functional groups also give opportunities for people to step up especially when their own team is restrictive or have limited opportunities to use their skills. That is why several organizations have adopted a mentorship program where people can spend a significant amount of time in another department so they can discover their leadership potential or find their own niche in the organization. Cross-functional teams provide the same opportunity for members to discover their leadership potential. To form a successful cross-functional team, you need to assemble the right people for the project. This will be determined by the objectives of the project and the delineated goals the team needs to achieve. Members need to be highly motivated and accountable because the goals for the project are add-ons to their deliverables from their original departments. They also need to be open-minded because they will be dealing with different personalities. Additionally, they also need to be good communicators to avoid overlapping roles, prevent miscommunication, and maximize meetings with team members. Objectives also need to be clearly defined.

Milestones and measures of success need to be clear so that everyone knows where they come in and how their efforts contribute to the success of the whole team. Ideally, there must be a project charter as reference so that people can see the roles each member plays, how much the projects costs, and the schedule of deliverables. Members need to agree and support the charter and change requests to the same need to be acted on quickly and decisively. Since the members are only part of the project until its completion, the project leader plays a pivotal role in ensuring members deliver as expected. This starts with ensuring the direct supervisors of the team members are properly apprised of how much time involvement is required, and that there is a mechanism on how to go about changes in the level of involvement of their subordinates. The team leader also needs to be accountable for the success or failure of the team, and takes it upon themselves to ensure success of the project. An important element in cross-functional teams are the communication channels the team can use in updating progress, and in addressing issues and risks encountered in the course of the project. A significant part of that communication plan is the means of resolving conflict. Friction between team members is expected especially if

departments have a history of disagreements, or if it is the first time that people will work with each other. Sooner or later, you will be asked to join a cross-functional team, especially if you have specializations other than what is needed in your current role. To ensure you work seamlessly with others, maintain good working relations with people you meet because you might work with them in the future. While in meetings with other groups, pay close attention to what they are saying and what they strongly believe in so it will become easier for you to work with them, and to relate and understand what motivates them. You need to deliberately cultivate good communication skills, and to understand and deal with different kinds of personalities—especially the difficult ones. These will prepare you to work with people from other teams. Working in cross-functional teams enriches your own experiences and enhances your skills in dealing with different kinds of people. If you are not yet a people manager, joining a cross-functional team will improve your leadership potential. If you are a people manager, your efficacy as a leader will be challenged and your people-handling skills will be developed further. But one thing is for sure—you will come out a better person and an improved member of your team.

Remote working shift offers silver lining for finance gender gap By Tom Metcalf Bloomberg

This year’s shift toward more flexible working during the coronavirus outbreak may in the long run help narrow the gender gap in the financial services industry, a rare silver lining from a pandemic that’s disproportionately damaged the job prospects of women. Remote working has encouraged a shift in the perception of what roles can be done flexibly, according to a report commissioned by the Women in Banking & Finance network. A wider

acceptance of such practices may help keep female workers, who are oftentimes the primary care giver and rely more on flexibility, to stay in the industry. “Without this change in narrative, women who take flexible working will always have a higher likelihood of being looked upon as having lower labor market attachment,” Grace Lordan, an associate professor in behavioral science at the London School of Economics, said in the report. “Because women face more constraints than men, a lack of flexibility is more likely to cause women to leave, resulting in the missing middle.”

Some 93 percent of females currently working in the industry and 94 percentof male employees now say they can do their job flexibly, compared to about three quarters of female ex-financiers and half of male former workers, a survey of 1,703 people found. The pandemic has put women and other underrepresented groups at greater risk of career setbacks and unemployment because they hold a larger share of the jobs hurt by lockdowns and other restrictions. Women also were more likely to quit their jobs to care for children because of school shutdowns or lack of child care.

Jump-start plant-based health this holiday With all the stress and anxiety we’ve faced in the past months, this holiday season is the best time to share the gift of health and get people back to optimized immune performance to welcome 2021. A curated line of certified-organic plantbased superfoods is Sekaya Raw Actives (www. sekaya.com.ph), from Unilab’s natural products company Synnovate Pharma Corp. Easily available on Lazada, Shopee and Zalora, these ready-tomix products supplement meals, support daily activities, and help maintain physical and mental health. Just in time for the holidays, Sekaya has made it easier to integrate plant-based nutrition with the limited-edition Sekaya Raw Actives Starter Pack. A fitting gift to give and receive, the starter pack comes with two single-serve sachets each of Sekaya Raw Actives Vegan Protein, Maca Factor, and Barley

Green, and one single-serve sachet each of Daily Greens and Powerbeet. It comes with a premium 500ml stainless steel shaker bottle with a metal ball for making quick drinks. Vegan Protein is a light, creamy blend of protein sourced from organic pea, brown rice and quinoa that has potassium, iron, calcium, essential amino acids, and 18g of protein per serving. Maca Factor has four times the phytonutrients of regular maca root powder in one serving that enhance energy and stamina to help fight fatigue; while Barley Green contains the phytonutrients of 60 leaves of barley grass in just one serving, making it a natural detoxifier and a good source of fiber, vitamin C, calcium and iron. Daily Greens provides micronutrients needed for energy metabolism and vascular health, packing phytonutrients equivalent to 50 leaves

of organic spinach and kale in just one serving. Finally, Powerbeet draws from beetroot blended with a patented ingredient that enhances nitric oxide production for those whose high intensity and endurance activities needs demand more from supplementation. With health-promoting benefits, backed with scientific evidence, and meticulously processed within pharmaceutical-grade facilities, the Sekaya Raw Actives can be easily sprinkled over breakfast favorites, added to savory meals, or stirred in a glass of water or favorite beverage.

The findings are part of an initiative to support and retain women working in financial services, an industry that has had a long-standing and persistent gender gap. The report, which is sponsored by lenders including Citigroup Inc. and Barclays Plc, also found that more women aspired to higher senior leadership than men, but 79 percent of women said they saw barriers to their career aspirations compared to 58 percent of men.

B6 Wednesday, November 25, 2020

DA has over P25-billion to fund rice programs needed to spur agri growth, help farmers

MWF, partners bring much-needed water to families hit by typhoons Rolly and Ulysses

OLLOWING the impact of Typhoons Pepito, Quinta, Rolly and Ulysses, Manila Water Foundation continues to set out its disaster response initiatives, deploying around 14,500 gallons of drinking water to severely affected communities in Metro Manila and other areas of Luzon. On November 11 and 12, Typhoon Ulysses brought torrential rain and strong winds which caused severe flooding and damages to communities in Metro Manila and the rest of Luzon. NDRRMC reported that more than 500,000 families have been displaced from the onslaught of Typhoon Ulysses, amid the health risk brought by the COVID-19 pandemic. Responding to calls of support, Manila Water Foundation joined the League of Corporate Foundations (LCF) on November 14 in its immediate deployment of in-kind donations to Marikina City and the municipality of Rodriguez in Rizal, two of the hardesthit communities from the Typhoon. Manila Water Foundation provided a total of 1,000 gallons of water, while other donations include sleeping kits, rice, diapers, and food items which will be distributed to the evacuated families in Marikina City, and Rodriguez, Rizal. The donations were received by Officer-in-Charge Marikina City Administrator Janet Obispo and Dr. Angelito Llabres, Marikina City Sports Center administrator, and Mayor Tom Hernandez of Rodriguez, Rizal. On the same day, the foundation also joined Globe Telecom, likewise part of the Ayala Group, in providing water and food packs to the families temporarily housed at four evacuation centers in Marikina City. A total of 1,500 gallons of drinking water from MWF and 900 food packs from Globe Telecom were turned over to the 1,462 families sheltered at the evacuation centers, namely Nangka Elementary School, Hermogenes Bautista Elementary School, Concepcion Elementary School and Malanday Elementary School. Manila Water also installed static water tanks for each evacuation center. Aside from Marikina City and Rizal, several calls for help were also received for the communities submerged in flood in Cagayan Valley. On November

ENATOR Cynthia A. Villar said the Department of Agriculture (DA) has two rice programs to boost the country's rice sufficiency and augment the income of farmers and other stakeholders in the agricultural sector. Villar, Chairperson of the Senate committee on agriculture and food, said these programs are the National Rice Program and the Rice Competitiveness Enhancement Fund (RCEF). She said Congress has appropriated P15.5 billion for the National Rice Program and P10 billion for the Rice Enhancement Fund. “The National Rice Program is one of the banner programs of the DA, which focused on rice farming under the Office of the Secretary. It has been there since 1986 under six Presidents,” said Villar.

The National Rice Program

WATER TANKS FOR MARIKINA EVAC CENTERS. An evacuee from one of the four evacuation centers in Marikina City draws water from one of Manila Water’s static water tanks. Manila Water installed a static water tank in each of the evacuation center to augment the water supply for the affected families.

16, Manila Water Foundation sent 1,000 gallons of drinking water and were delivered by the volunteers from the Armed Forces of the Philippines. MWF continues to respond to the needs of the affected families, as another batch of 1,000 gallons of drinking water will be deployed to residents in San Mateo, Rizal on November 18. Right before Typhoon Ulysses, several areas particularly in South Luzon were already heavily swept by Typhoon Rolly on the first week of November. With Ayala Foundation, 2,500 gallons of drinking water were brought to the towns of Lobo, San Juan, Balete, Mataas na Kahoy, Nasugbu, Calatagan, and Cuenca in Batangas on November 3. Several parts of the Bicol region were also submerged in flood after the onslaught of Typhoon Rolly, which also damaged their water systems. This called for the need to augment the water supply in the said areas. GMA Kapuso Foundation and MWF worked together to bring 2,500 gallons of drinking water

to displaced families in Albay. With the help of the Philippine Coast Guard, another batch of 2,500 gallons of drinking water was also transported to Virac, Catanduanes on November 11. Meanwhile, 1,000 gallons of water were also deployed to Oas, Albay on November 14, in partnership with Laguna Water. The foundation‘s typhoon response efforts has served around 28,000 individuals since Typhoon Pepito. To reach more communities in need, Manila Water Foundation, duly recognized by the Department of Social Welfare and Development, invites the public to donate any amount to bring essential items to families affected by flooding and displacement. With cash donations, MWF will bring the needed potable water, WASH-in-Emergency Kits, ready-to-eat food and other items to bring care and comfort for the affected families. Visit Manila Water Foundation’s Facebook page at facebook.com/manilawaterfoundation and website manilawaterfoundation.org for more information.

FOR 2021, Villar said the Php 15.5- billion National Rice Program has to be spent as follows: Hybrid Seeds P6.2 B, Inbred Seeds P 375 M, Fertilizer P4.4 B, Others P858.7 M, Training P998.2 M, R & D P658.7 M, Equipment P1 B, Irrigation P745.9 M, for a total of P15.5 B. “However, this computation of allocation for rice through the years should have included the budgets for the irrigation through the NIA averaging P31 B a year and that of NFA which is subsidized yearly by P7B for the Buffer Stocking Program in times of calamites, fortuitous events, or shortfall in production,” noted Villar.

Rice Competitiveness Enhancement Fund (RCEF)

VILLAR said under the RCEF, which started in March 2019, government removed the quota system on rice importation and replaced it with tariff through the passage of RA 11203 starting on March 5, 2019 until 2024. She said the tariff is pegged at 35% if rice importation is from within ASEAN; to180% if above the MAV and from a nonASEAN country. The law guaranteed a P10 billion funding for the program starting in 2019 with or

SOUTHERN Indian delicacies

The five-day festival is celebrated by billions of the world’s Hindus, Sikhs and Jains, and symbolizes new beginnings and the triumph of good over evil, and light over darkness. But with quarantine restrictions still in place, Swagat marked the lowkey event with its loyal patrons and the Indian community, minus the traditional colorful rangoli adornments, by feasting on authentic dishes which have been tickled the local palate.

For appetizers, start off with bhel puri and sev puff rice, or methi aloo matter potatoes with green peas cooked with fenugreek leaves and flavored spices or palak pakora, deep fried spinach and spices rolled in chickpea flour. Must-try main dishes are malai kofta dish of cheese and vegetable patties cooked in butter sauce; chicken tikka, tender, skinless and boneless chicken marinated in ginger and garlic; fish palak, cooked in mild spices, with spinach and sauce; mutton masala, goat meat cooked in onions, tomatoes and spices. For rice, there is the flavored sangam biryani with lean, tender pieces of chicken, lamb, cooked in herbs and spices. Its variants are chicken, mutton, scrambled egg, and shrimp. Dishes are “halal” which make them ideal for Muslims. Meanwhile, ice cream lovers will rejoice with Swagat’s pint-size and sought-after home-made kulfi. After celebrating 17 Diwali festivals and one pandemic in the country, owner Komal Khanchandani poses the same confident challenge on the restaurant’s day one: “Don’t pay if you are not satisfied with the food.” Swagat is located The Columns at Amorsolo St. cor. Arnaiz Ave., Legazpi Village, Makati City, and is only available for pick up or food delivery service. For more information, log on to www.swagatph.com.

without collection and this is in addition to and separate from the budget for the National Rice Program. This amount is allocated to assist rice farmers who will be negatively affected by the expected increase in the inflow of cheaper rice imports of similar quality into the country and make rice production in the country competitive. The RCEF in 2021 has a budget P10B, to be spend as follows: 1. P5B for Mechanization by PhilMech in the form of Machineries and equipment to farmer’s cooperatives and association or to the LGUs of rice producing towns with at least 100 hectares of rice farm lands; 2. P3B in the form of quality inbred seeds given to farmers listed in the Registry System for Basic Sectors in Agriculture (RSBSA) by PhilRice; each shall receive a maximum of four bags at 20 kilograms per bag, depending on farm size, from 0.5 to 2 hectares. 3. P1B credit facility with minimal interest available to rice farmers and/or their Cooperatives divided equally between Land Bank and DBP; 4. P1B extension Support implemented by PhilMech, PhilRice, ATI and TESDA for Training rice farmers on quality inbred rice production, modern rice farming techniques, farm mechanization and technology transfer through the different accredited farm schools nationwide.

PLDT Home offers unlimited Fibr with up to 300 Mbps speeds at a discounted price until January 31, 2021

HE country’s fastest fixed network and leading digital services provider, PLDT Home, introduces its first ever Super Speed Deals Promo that gives subscribers a fast and convenient way to upgrade their internet plans for as low as Php 99 until January 31, 2021. As a lot of daily activities are now shifting to the home, internet usage continues to increase among households. PLDT Home continues to pave the way for faster and stronger internet connectivity by providing solutions that caters to the digital needs and activities of each family member at home – whether for homebased online learning, digital selling for micro and small entrepreneurs, work-from-home employees, and of course, family entertainment. With the PLDT Home Super Speed Deals Promo, existing PLDT Home Fibr subscribers can now upgrade their internet plans to the next higher plan and enjoy up to 300 Mbps faster internet speeds at home at a discounted price. For more information, visit www.pldthome.com/ superspeed.

Swagat marks India’s festival of lights S restaurants in Metro Manila slowly open up with more relaxed quarantine regulations, lovers of authentic and homestyle Indian dishes will continue to savor the mouth-watering specialties of Swagat Indian Cuisine. Literally meaning “welcome”, Swagat recently celebrated Diwali, India’s biggest religious observance dedicated to Lakshmi, the goddess of prosperity, and is regarded as the “festival of lights”.

SEN. Cynthia Villar (PNA file photo by Avito C. Dalan)

Mariwasa donates to GMA Kapuso Foundation

EAFFIRMING its advocacy to uplift the learning conditions of students, Mariwasa Siam Ceramics, Inc. donated tiles and sanitary wares to the 2020 Kapuso School Development Program of the GMA Kapuso Foundation for the building and rebuilding of selected public schools all over the country. The sanitary wares for public school toilets and tiles were for the construction of 30 rooms from six public schools, the latest beneficiary of which was Pansur Elementary School in Lanao del Norte, which received tiles and toilet fixtures for two rooms last October 9. The constructed rooms were recently inaugurated, with project partners from the AFP Western Mindanao Command, Philippine Army 1st Infantry Division, 54th Engineering Brigade, 547th Engineering Battalion, 2nd Mechanized Brigade, and 5th Mechanized Brigade, together with Mayor Farhanie Tawantawan, Schools Division Superintendent for Lanao Del Norte, Edilberto Oplenaria, and Pansur Elementary School Principal Hanifah Radiab in attendance. Bariw Elementary School and San Rafael Elementary School, both in Bicol, are set to receive donations for the construction of six and five rooms, respectively, while Cabatagan Elementary School in Zamboanga has been allotted a donation for the building of two rooms. “One of the best ways to give back to the community is through the Philippines' public schools, because better

learning is achieved best when we uplift their learning conditions,” said Jakkrit Suwansilp, Mariwasa President. Last year, Mariwasa signed an agreement with the Department of Education to upgrade facilities of selected schools in a Corporate Social Responsibility project. Mariwasa donated a total of Php 10 million worth of Mariwasa products to DepEd's Adopt-A-School Program in the country's far-flung areas to provide better facilities to selected 130 public schools.

MARIWASA tiles were donated to the Patani Elementary school through the 2020 Kapuso School Development Program of GMA Kapuso Foundation.

BusinessMirror

Editor: Tet Andolong

Wednesday, November 25, 2020 B7

Mangroves an essential part

of Hamilo Coast’s sustainable roadmap

Hamilo Coast’s mangrove forest—the heartland of this premier sustainable seaside community where reforestation efforts continue to safeguard one of its most vital ecosystems. By Rizal Raoul S. Reyes

@brownindio

HE importance of mangroves was highlighted when Supertyphoon Yolanda pummeled the country. Experts observed that the impact of Yolanda’s storm surge would have been minimal if the mangroves near Leyte’s shoreline were not destroyed.

“Mangroves are among the most important ecosystems on the planet. They provide food and protection for a huge variety of marine and land-based species, sustain livelihoods of coastal populations, and provide protection from ocean swell and extreme weather events,” according to author Sriyanie Miththapala in her book Coastal Ecosystems Series

(Volume 2) published by Ecosystems and Livelihoods Group Asia, International Union for Conservation of Nature (IUCN). Realizing the importance of sustainability in their development projects, Hamilo Coast has made its 10-hectare mangrove forest an important if not the most important part of the masterplanned seaside residential com-

One of nature’s essential habitats at Hamilo Coast is a 10-hectare mangrove forest, the largest of its kind in Nasugbu, Batangas.

munity in Nasugbu, Batangas. It is developed and managed by Costa del Hamilo Inc., a subsidiary of SM Prime. Hamilo Coast formed a partnership with the World Wildlife Fund for Nature Philippines (WWF-Philippines) to preserve over 10,000 mangrove trees in this rich coastal paradise that has formed a harmony with the tides. Costa del Hamilo cited the vital role of mangroves in preserving and protecting the ecosystem of Hamilo Coast. “Mangrove trees play an essential part in nurturing the very ground they stand on. Mangrove roots filter the silt and sediment that tides carry in and rivers carry out towards the sea. They lodge themselves in the soft soil of tidal mudflats while holding it in place to stabilize the shoreline against erosion, storm surges and hurricanes,” it said in a press statement. Hamilo Coast made the right decision on planting mangrove trees. Conservationists pointed out that

mangrove preservation is a sound investment due to its high adaptive capacity to climate change. Moreover, mangroves act as protectors of massive diversity of fish and underwater creatures. These habitat-forming species take refuge in this protective nursery where they often thrive at the interface of open water and the terrestrial environment.

Protecting Mother Nature The management of Hami lo Coast said touring the ecosystem becomes a valuable learning experience as Hamilo Coast’s mangrove forest becomes an enlightening on-site adventure. The tour starts with a short 200-meter trek through the forest. Along the path are posters that explain the crucial role of mangrove trees in reforestation. After the tour, guests are taken on a canoe ride through the reforested area. To ensure that everyone’s life vest is secured, tour guides will share the inspiring story of how the once

Federal Land advances portion for socialized housing program

HE country’s massive housing backlog continues to deprive Filipinos of affordable and decent dwellings. The latest data by the University of Asia and the Pacific showed that the Philippines would need 12.3 million housing units by 2030. Of these 12.3 million units, 1.45 million need housing subsidies and 1.58 million more are for socialized housing from 2012-2030, according to the records of the Subdivision and Housing Developers Association Inc. (SHDA). The national government has been doing its part to improve housing policies and subsidy management, part of which is tapping the private sector. The Department of Human Settlements and Urban Development (DHSUD), the country’s central housing authority, requires developers to contribute to socialized housing programs where each

developer is entitled to their own compliance mode. “Times are simply becoming more difficult for many Filipinos, and we are supporting this program since Federal Land can be of help,” said Federal Land President Thomas Mirasol. “The government’s action agenda for housing has never been more urgent than now, and we’ve taken it upon ourselves to advance our portion of socialized housing.” For Federal Land, the updated policy, which requires 15 percent horizontal development and 5 percent vertical project contribution opened more opportunities for them to upgrade their participation. The company now complies through Participation through Investment or the Building a Legacy for the Advancement and Integrity (BALAI) program. BALAI has the highest credit among all compliance modes as it is, in fact, a non-

recoverable nonprofit investment equivalent to 5 percent of the total costs of the main project. Under this initiative, Federal Land is responsible for land development to deliver roads, drainage, power, and water lines. Federal Land has also advanced its escrow by at least a year for more efficient compliance, ahead of the common industry practice. This allows Federal Land to be more expedient in processing the licenses needed for soon-to-be launched social housing projects with DHSUD and chosen LGU partners. Moreover, as most of the projects under its socialized housing program are slated outside Metro Manila—such as Mati in Davao Oriental, Monkayo in Davao de Oro, and San Miguel, Bulacan among others, Federal Land sees its contribution complementing the government’s sustained efforts to link cities through the “Build

Build Build” (BBB) program. In the middle of the still undefeated pandemic and the erratic implementation of the community lockdowns, big-ticket projects under BBB continue, and are considered to fuel the country’s economic recovery beyond the health crisis. With the resumption and progress of Federal Land’s developments, it hopes to further contribute to the national goal of distributing economic growth and eventually decongesting the capital. “We extend our support to the vulnerable segments of our population because it is in our nature as a developer to nurture a healthy and well-balanced community. We also believe that it should be a shared goal for the public and private sectors to build a more inclusive and sustainable future for Filipinos. For us in real estate, that means secure shelter and reliable infrastructure,” Mirasol concluded.

Eton Centris is a 12-hectare lifestyle hub with a courtyard architectural design featuring wide pathways and floor areas. It has strict health and safety protocols in

place such as temperature check, contact tracing procedures and physical distancing to ensure consumers the safest dining and shopping experience.

More stores open in Eton Centris

TON Centris in Quezon City is seeing more physical stores open within its complex as Metro Manila relaxes its general community quarantine restrictions. In September, it saw the store openings of America’s favorite fried chicken, Popeyes and local favorite, Pares Retiro. Last month, Maxicare Primary Care Center opened in one of Eton Centris’ office buildings, Cyberpod Centris Five; and just 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 Properties Philippines’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.” Eton Properties Philippines’s EVP Engr. Charlie Carlos 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.”

Guests are accompanied by tour guides who share the inspiring story of how the once empty and gray plot of land was transformed into the lush mangrove forest it is now.

empty and gray plot of land was transformed into the lush mangrove forest it is now. Paddling through the cove’s salty shallow waters, the guides will brief visitors on endemic species of plants and birds who help keep the delicate balance in its ecology. “With mangrove trees growing up to a towering 50 feet, visitors have a unique opportunity to witness the awe-inspiring effects of Hamilo Coast’s dedicated stewardship towards the environment. As they cruise beneath the canopy of leaves that block out the sun, one feels the crisp, clean air in the forest and surrounding areas. This can be attributed to the fact that mangrove trees are carbon powerhouses,” the company said. Hamilo Coast management stressed why it is important to protect the mangrove trees. Mangrove trees absorb up to four times more carbon dioxide by area than upland terrestrial trees. The constant hum and buzz of wildlife also serve as a reminder that refores-

tation efforts encourage whole ecosystems to reform. As underwater havens, mangroves help in expanding the fish population in Nasugbu’s waters as well. At the same time, this contributes to the livelihood of the local fishing community that makes its home at Papaya Cove where this tour ends. The development of Hamilo Coast combines the serene beauty of both land and sea emphasizing Hamilo Coast’s concern, respect and commitment to environmental and social sustainability. “Responsible stewardship towards the environment does not only mean helping nature survive; it also creates opportunities for nature to thrive,” Hamilo Coast said. Moreover, the mangrove forest at Hamilo Coast is a prime example that a well-planned and well-executed development and nature can co-exist in harmony— to provide a most wholesome beach resort living and an excellent lifestyle choice.

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Perfect home entertainment partners with Jose Mari Chan this Christmas

RAND Videoke is the perfect home entertainment partner for families to sing and quarantining together can enjoy their holiday home-cation by belting out their favorite Christmas songs and having a friendly competition with the GV Perfect Pitch Battle Mode. Moreover, Grand Videoke also has the Perfect Pitch Scoring System which acts as a digital vocal coach that gives scores to elements like vibrato, rhythm and pitch. Many things can be considered iconic of the Christmas season. Twinkling lights, hot cocoa, hand-wrapped gifts, and bedazzled holiday trees are just a few of them. For Filipinos though, there is something—or rather, someone—else who represents the season effortlessly; and that’s singer-composer Jose Mari Chan. The seasoned artist’s songs have become such an important staple during the holiday season that he can easily be considered, as he said as the Little Drummer Boy that heralds the season in the Philippines. When asked about why he thinks his songs, and music in general, have become so famous, he said: “Music is essentially the language of the soul. It expresses best our innermost feelings of joy and sadness, and it can set our mood. Music can instantly take us back to a time and place.” And that is exactly, what the nation as a collective easily needs at the moment. There is no doubt about the pandemic causing dramatic shifts in the way we spend Christmas this year as the public is still encouraged to stay at home to keep safe. “In this time of the pandemic, when we are most alone in our thoughts, music is a source of comfort. Music has the ability to lift our spirit and brighten up our mood,” Chan shared. With his perspective and his iconic association with the Christmas season, it makes perfect sense for the artist to recently collaborate with Grand Videoke, a brand under the Audio-Video Solutions Corp. (AVSC) which

Jose Mari Chan

offers top-notch and world-class home entertainment products. AVSC is also the name behind other videoke and entertainment systems like WOW! Fiesta Videoke and LD Systems speakers. “Mr. Chan is the perfect partner for us this Christmas,” said Jin Cortez, Grand Videoke Marketing OIC. “There’s this kind of warmth that his songs always bring to us Filipinos during this season and we believe that is something we need more than ever right now.” Grand Videoke has been proactive throughout the year to talk about the importance of music in a country that has been stuck in a gloomy situation. “We want to depart, at least temporarily, to the idea that videoke can only be done outside with a crowd. You can enjoy music in your home to keep safe,” said Cortez. This is especially important since several communities have been called out after some of its residents broke lockdown protocols by throwing videoke parties. Moreover, the Department of Health (DOH) has also advised against public videoke sessions as it can easily spread the virus. The gift of music might be the best thing you can give to yourself and your family this holiday season. Check out more details of Grand Videoke products by heading to their web site (https://grandvideoke.com/) now. Reni Salvador

Sports BusinessMirror

B8 Wednesday, November 25, 2020

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

TOLENTINO BATS FOR UNITY I

REP. ABRAHAM “BAMBOL” TOLENTINO: I will reach out to the national sports associations and unite sports and forget politics.

By Josef Ramos

EAD Coach Tim Cone and Joe Devance have been together in so many battles that netted them 10 Philippine Basketball Association (PBA) championships with three teams—Alaska, SanMig Coffee (Magnolia) and Barangay Ginebra San Miguel. Now, they can be in the Finals once again together if Barangay Ginebra San Miguel beats Meralco in Game Four of their best-of-five semifinals series in the Philippine Cup. The game is set at at 3:45 p.m. at the Angeles University Foundation gym in Pampanga. “I have been with Coach Tim [Cone] for 12 or 13 years now, something like that. All my finals appearances have been with him,” Devance told BusinessMirror. “It’s very special to play for him,” he added. After leaving Alaska in 2011, Cone brought along Devance to the B-Meg Llamados and San Mig Coffee (now Magnolia) and won a grand slam in 2014. When Cone transferred to Ginebra, he again brought with him the 6-foot-7 allaround power forward and won four titles with

their current team. Devance’s goal for now is to help Ginebra advance to the championship relying on his “smarts”—he is no longer as athletic as he was 13 years ago because of various injuries. “If you can rely on your smarts like setting your teammates for an easy basket or make your teammates better, it will make my job easier like hitting some open jumpers or three-pointers,” said the 38-year-old Devance, a former top overall pick by Rain or Shine in the 2007 draft. Devance contributed 10 points and five rebounds in 31 minutes of action in Game Three. Cone, meanwhile, remains wary despite a 2-1

F reelected president of the Philippine Olympic Committee (POC), cycling chief Rep. Abraham “Bambol” Tolentino will work on two things that will kick-start a fresh, four-year mandate. “If I win, my first move is to reach out to the NSAs [national sports associations] and unite sports and forget politics,” Tolentino told Tuesday’s online Philippine Sportswriters Association (PSA) Forum. Tolentino, the congressman from the Eighth District

of Cavite, is facing Clint Aranas of archery for the top POC post on Friday at the East Ocean Restaurant in Pasay City. Unity within the POC, according to Tolentino, is key to the future of Philippine sports and its goal of winning the elusive gold in the Tokyo Olympics in July 2021. “Let’s move and focus especially because the Tokyo Olympics is next year and we’re aiming for the first gold for the country,” Tolentino told the forum presented by San Miguel Corp., Go For Gold, Milo, Amelie Hotel Manila, Braska Restaurant and the Philippine Amusement and Gaming Corp. Tolentino was elected POC president last

year following the resignation of boxing head Ricky Vargas. After less than two years in office, he is now seeking a full term. He told the weekly forum powered by Smart with Upstream Media as official webcast partner that he will sincerely work for unity within the POC. “This is really coming from my heart. If we can’t unite now, the momentum of our SEA Games success [in 2019] will be wasted. The momentum is still there and there is Tokyo. We should focus on that,” he said. “It doesn’t look right if we’re not united and we can’t agree on simple policies,” he added. There are 54 voting members in the POC, 51 of them NSAs. Tolentino said while a handful

may opt to send their sealed ballots through mail, he expects the rest to physically join the exercise. Strict health protocols will be in place during the elections, including antigen tests for the Covid-19 virus for those who will attend. The POC has prepared 150 test kits. Running under Tolentino’s ticket are triathlon’s Tom Carrasco (chairman) basketball’s Al Panlilio (first vice president), fencing and modern pentathlon’s Mayor Richard Gomez (second vice president), gymnastics’s Cynthia Carrion (treasurer), baseball’s Chito Loyzaga (auditor) and muay’s Pearl Managuelod, judo’s Dave Carter, chess’s Rep. Prospero Pichay and surfing’s Dr. Raul Canlas as board members. “Everything is set. On Friday, we will be choosing the leaders who will rightfully serve the POC,” Tolentino said.

PHOENIX VS. GINEBRA? lead after their Game Three victory where Stanley Pringle finished with 24 points, nine rebounds and six assists. “We just have to make sure we don’t have a repeat of Game Two. We’ve got to be more prepared this time,” Cone said in a

text message. “Physically, both teams were able to recover with the extra day between games. “But that also gave Meralco another day to work on adjustments,” he said. “We expect Meralco to come out firing on all cylinders.” Coach Norman Black of Meralco, meanwhile, is hoping to extend the series to a sudden-death Game Five. “It is a do or die so we have to play our best basketball and compete. We must rebound better and improve our transition defense,” Black said.

CALVIN ABUEVA is named Best Player of the Week.

In the second game at 6:30 p.m., Phoenix Super LPG, meanwhile, shoots for its first ever finals appearance when it battles TNT Tropang Giga armed with a 2-1 series lead. The Fuel Masters of Head Coach Topex Robinson are hoping Matthew Wright, Calvin Abueva, Jason Andre Perkins and company will remain inspired with as the “underdogs” in the series. “If we can go to the finals, we inspire a lot of people, that’s where we’re headed,” Robinson said. Wright played true to form in Game Three

Ginebra-Phoenix Finals shaping up? Al Mendoza | alsol47@yahoo.com

THAT’S ALL MERALCO and its sister team TNT fight for life on Wednesday. To survive, they need coaches steeped in improvisation. Both facing a 2-1 deficit each, this cliffedge scenario could be fatal with just one misstep by Meralco Coach Norman Black and TNT mentor Bong Ravena (or Mark Dickel?). Their Game 4 battles against separate teams at the Angeles University Foundation gym in Pampanga could be veritable goodbyes for them, if you ask me. Look, Ginebra, Meralco’s foe, is not of the mercy kind. It takes no prisoners. It kills at the slightest opening. That is why Tim Cone, the irrepressible Ginebra coach, is a two-time Grand Slam champion. That is why Tim Cone, who eats wins for breakfast, is the winningest coach with 22 Philippine Basketball Association (PBA) titles

across his name. That is why Tim Cone was plucked out of Alaska by Ramon S. Ang (RSA), the San Miguel top gun with an eye for legends—at a cost too enormously huge it better be kept secret to stop tongues from wagging. Oh, yeah, Norman Black, the Meralco coach, is also a Grand Slam champ. And, curiously, he did it for RSA’s SMB in 1989. Why Black bolted the PBA’s oldest organization in favor of RSA’s arch rival remains a mystery to this day. Anyway, two are better than one and so, that makes Cone ahead of Black? So that, unless Black comes up with his own brand of black magic, Cone could be on his way to a series-clinching win en route to a shot of his 23rd PBA crown, the Philippine Cup aka the All-Filipino trophy? And what about the other half of the semifinals between TNT and Phoenix?

DOJ asks CHED to file formal complaint vs ex-UST Coach Ayo

HE Department of Justice (DOJ) has asked the Commission on Higher Education (CHED) to file a formal complaint against former University of Santo Tomas (UST) Head Coach Aldin Ayo to jumpstart investigations on the infamous Sorsogon Training Bubble. DOJ Secretary Menardo Guevarra clarified to BusinessMirror on Tuesday that the CHED submitted a report of its investigation on Ayo’s alleged breach of quarantine protocols when he brought the Growling Tigers to his hometown in Sorsogon for training middle of this year. “The JAO [Joint Agreement Order] group, through the CHED, submitted a report, not a complaint to the DOJ,” Guevarra said in a texted message. “So we returned the documents to the CHED and requested them to convert the report into a proper complaint.” CHED Chairman Prospero de Vera said the commission is processing the complaint letter as per DOJ’s request.

“These are legal matters being reviewed by the commission,” De Vera said also in a text message, adding the documents are due to be delivered to the DOJ next week. The JAO group composed of the Philippine Sports Commission, Games and Amusements Board, Department of Health and the InterAgency Task Force (IATF) for the Management of Emerging Infectious Diseases submitted a report on Ayo last September 7. “If a criminal complaint is eventually filed, the DOJ will conduct a preliminary investigation to determine the probable cause,” Guevarra said. “We cannot speculate at this time on what charges will be filed, much less on what repercussions will be on coach Ayo.” The University Athletic Association of the Philippines meted an indefinite suspension on Ayo, who eventually resigned as UST head coach. He was recently tapped to coach the Chooks 3x3 national team. Josef Ramos

Medvedev, Thiem get tennis set for intriguing 2021

O one thinks it’s time to write off Novak Djokovic or Rafael Nadal—or even Roger Federer—just yet. Well, they shouldn’t, anyway. Still, the season-ending Association of Tennis Professionals (ATP) Finals set the stage for an intriguing 2021 in men’s tennis with the emergence of Daniil Medvedev and the continued excellence of Dominic Thiem, a pair of 20-somethings who look ready to continue their climbs to the sport’s apex. They are part of a group of up-and-coming men that also includes Stefanos Tsitsipas, Alexander Zverev and Andrey Rublev, all of whom are showing signs they’re for real and ready to take the next

steps. It gives everyone fodder for thought until action resumes in Australia in January, if the coronavirus pandemic allows. “We proved that we can play with the legends, that we can also beat them, that we can also win the biggest tournaments,” said Thiem, whose title at the US Open in September gave him his first Grand Slam trophy. “The next few years, the Big Three still will play for every big title, but I guess there’s still going to be a time when those guys will retire—I don’t know, in three, four, five years,” Thiem said. “And then, I guess, we will be the favorites for all the big titles. For tennis, some exciting times are coming ahead.” AP

last Sunday, hitting 25 points for Phoenix’s 9289 victory. Abueva, meanwhile, was named Cignal TV-PBA Press Corps Player of the Week for the period November 16 to 22. Abueva was everywhere for the Fuel Masters in their back-to-back wins in Games Two and Three, respectively, averaging 22.0 points on 55 percent clip including an impressive 63 percent shooting from threepoint range to go with 14.5 rebounds, 5.0 assists, and 3.0 steals.

What can we expect from Ravena, if not Dickel, insofar as stopping the rampaging Fuel Masters from barging into the Finals? The resurrected Calvin Abueva is already proving to be a headache to the Tropang Giga, given the consistent double-double performances by the uncaged beast. Add to that the return-to-form of Matthew Wright, who couldn’t seem to do any wrong every time he had the ball in Phoenix’s Game 3 win on Sunday, Despite being a rookie head coach for practically a number of weeks only, Topex Robinson seems to be loaded with unheard of strategies, endlessly baffling the Ravena/Dickel duo of TNT. It’s been my humble view that two coaches, Ravena and Dickel, steering a team is counterproductive in that the set-up cultivates a culture of divisiveness, if not outright confusion, among the players. Who do they really trust? In short, loyalty is compromised. It’d be Ginebra versus Phoenix then in the Finals? Most likely, I guess. THAT’S IT It’s a battle between Bambol Tolentino, the political animal, and Clint Aranas, the apolitical, for the presidency of the Philippine Olympic Committee on Friday. A vote for Bambol is to retain the old order. Clint represents a new beginning. Good luck.

Yuka, Bianca hanging tough for Olympics

HE country’s chef de mission to the Tokyo Olympics hopes golfers Yuka Saso and Bianca Pagdanganan would hang tough until the season is over to guarantee their berths to the rescheduled Games. Mariano “Nonong” Araneta told BusinessMirror that Saso and Pagdanganan are provisionally qualified for the Tokyo Olympics where the top 60 golfers— separately for men and women—would be playing. Saso is currently No. 25 and Pagdanganan No. 40 in the latest International Golf Federation rankings for Tokyo. “Right now, both of them are in the top 60. But in the current Asia ranking, they are in,” Araneta said. Saso has one tournament left in the Japan Ladies Professional Golf Association Tour and would join Pagdanganan in the US Open in December. Saso won the individual gold and along with Pagdanganan and Lois Kaye Go, also bagged the team gold in women’s golf of the Jakarta 2018 Asian Games. National Golf Association of the Philippines (NGAP) Secretary-General Valeriano “Bones” Floro also expressed high hopes for the golfers—including winning gold in Tokyo. “The chances are big for Bianca and Yuka to win the gold in the Tokyo Olympics,” Floro told the PSC Hour recently. “These two are playing so well that I am confident they can make it.” Annie Abad