THESE are some of the 70 animals abandoned on Taliptip, Bulakan, Bulacan, which the San Miguel Corp. and its partner, the Animal Kingdom Foundation, retrieved and brought to a shelter in Tarlac, where they will receive veterinary treatment before being re-homed. SMC earlier assisted the communities to be displaced in the area by its P740-billion airport project. Story in Companies, B1. PHOTO COURTESY OF SMC
ROTARY CLUB OF MANILA JOURNALISM AWARDS
2006 National Newspaper of the Year 2011 National Newspaper of the Year 2013 Business Newspaper of the Year 2017 Business Newspaper of the Year 2019 Business Newspaper of the Year
BusinessMirror A broader look at today’s business
EJAP JOURNALISM AWARDS
BUSINESS NEWS SOURCE OF THE YEAR (2017, 2018)
DEPARTMENT OF SCIENCE AND TECHNOLOGY
2018 BANTOG MEDIA AWARDS
PHILIPPINE STATISTICS AUTHORITY
DATA CHAMPION
BUDGET GAP IN JAN-OCT SWELLS NEARLY 3-FOLD www.businessmirror.com.ph
n
Thursday, November 26, 2020 Vol. 16 No. 49
THE Philippine Red Cross (PRC) ship MV Amazing Grace sets out for Catanduanes on its first humanitarian deployment from the Subic Bay Freeport on Wednesday. The send-off was led by Sen. Richard Gordon, PRC chairman. Gordon said this was the first humanitarian deployment for MV Amazing Grace, which the Red Cross commissioned as a humanitarian vessel in May 2017. The 195-foot vessel is loaded with nonfood items like hygiene kits, blankets, sleeping mats, mosquito nets, water containers, galvanized iron sheets for roofing, and kitchen sets. It also carried a minivan and a Willy’s-type jeep to be used in monitoring the situation, as well as delivering services, in hard-to-access areas. HENRY EMPEÑO
By Bernadette D. Nicolas
T
HE Philippine government’s budget deficit for January to October ballooned to P940.6 billion, almost threefold last year’s shortfall, data from the Bureau of the Treasury showed.
See “Budget,” A2
TRADE, BETTER SPENDING MAY SPUR Q4 GROWTH–THINK TANK
B
ETTER trade prospects and improved government spending could place the countr y’s economic growth in “ less negative” territory in the last quarter of the year, according to a local think tank. In its latest Market Call report, First Metro Investment Corporation and University of Asia and the Pacific (FMIC and UA&P) Capital Markets Research said more time is needed to ensure better growth in 2021. The think tank said industrial production and exports have slowly improved due to the recovery of China, other Asean
countries, and the US economy. This, coupled by higher national government (NG) spending, should lead to a better GDP growth in the October to December period. “A few more ‘greenshoots’ have surfaced for the PH economy, even though it may still take a good part of 2021 to get back to normal as a US-German vaccine appears ready for a rollout before the end of the year and firms have strengthened health protocols to keep employees safe and productive,” FMIC and UA&P Capital Markets Research said. Data from the Philippine Statistics Authority (PSA) showed that the country’s manufacturing output contracted
PESO EXCHANGE RATES n US 48.1770
Peso to stay stable toward yearend, says think tank
T
Government expenditures surpassing revenues caused the wider budget gap for the 10-month period this year, compared to only P348.3 billion as of endOctober 2019. As the Covid-19 pandemic took its toll on the economy, the government was forced to spend more this year despite suffering a decline in revenues. For October alone, the national government’s budget deficit swelled to P61.4 billion, 24.56 percent higher than the fiscal gap of P49.3 billion in the same month last year. For January to October, revenue collections shrank by 8.41 percent to P2.37 trillion from P2.59 trillion in the comparable period a year ago. This comprised 94 percent of the P2.5-trillion revised program for the year.
By Cai U. Ordinario
P25.00 nationwide | 2 sections 20 pages | 7 DAYS A WEEK
8.4 percent as of September and 9 percent in August. In terms of the country’s exports, PSA data showed it posted a growth of 2.2 percent in September. However, January to September data showed exports growth contracted 13.8 percent. Based on data from IHS Markit Purchasing Manager’s Index (PMI), the Philippines slipped to 48.5 in October from 50.1 in September due to “weak client demand in domestic markets, a sharp decrease in employment and lower production,” according to FMIC and UA&P Capital Markets Research. See “Growth,” A2
HE local currency is expected to stay stable toward the end of the year as the projected dollar strength is expected to be offset by incoming remittances from Filipino migrant workers toward the holiday season. In the latest issue of The Market Call, First Metro Investment Corporation (FMIC) and University of Asia and the Pacific (UA&P) economists forecast that the local currency will not see any significant changes to its trading value toward the end of the year. Data from the Bankers’ Association of the Philippines (BAP) show the peso closed trade on Wednesday at P48.13 to a dollar, appreciating slightly from the previous day’s P48.145 to a dollar. “The dollar-peso rate could be on hold at present levels as foreigners’ return to the local stock market and seasonal OFW [overseas Filipino workers] remittances may offset the US dollar’s gains with the latter muddled by US election uncertainties,” the FMIC-UA&P said. The BSP reported earlier this month that Filipino migrant workers managed to send more money back home in September as cash remittances hit $2.6 billion, up 9.3 percent from the $2.34 billion they sent in the same month last year. The 9.3-percent growth was the strongest monthly growth seen for remittances since April 2018. The 9.3-percent growth in September also comes on the heels of a 4.1- percent contraction in the money OFWs sent in August. Market Call economists said this strength may be attributed to both repatriation remittances and opening of global trade. They also forecast that the strength of remittances is likely to extend toward yearend. “The sharp swing to gains in September may be due to migrants sending savings prior to repatriation and the reopening of global trade after the easing of strict lockdowns across major markets,” the Market Call said. “We believe that the inflow of remittances will continue to improve in the coming months as OFWs pour in money in time for the Christmas holidays,” it added. Bianca Cuaresma
n JAPAN 0.4613 n UK 64.3789 n HK 6.2151 n CHINA 7.3073 n SINGAPORE 35.8994 n AUSTRALIA 35.4583 n EU 57.2921 n SAUDI ARABIA 12.8462
Source: BSP (November 25, 2020)
News BusinessMirror
A2 Thursday, November 26, 2020
Growth… Continued from A1
However, signs of improvement have been observed by the think tank given that new orders from abroad or export sales have increased for the second consecutive month. “While firms anticipate positive developments over the coming year, the speed of recovery hinges on the tricky balance between risks of Covid-19 resurgence and reduction of government restrictions on public transportation and other services,” the think tank said. “We expect continuing recovery of the industrial sector, albeit not as fast as earlier expected.” In terms of government spending, FMIC and UA&P Capital Markets Research said a high base year pulled down the growth of spending to 5.8 percent in the third quarter. Based on data from PSA, the growth of 5.8 percent in government spending boosted the thirdquarter GDP but remained the slowest since the first quarter of 2017 when Government Final Consumption Expenditure contracted 2.1 percent. “The NG spending decline in September appears as an outlier for Q3 [third quarter] due to the large base effect [such as] NG expenditures for the same month in 2019 soared by 39 percent to P415 billion as top government officials have pressed agencies to accelerate spending to avoid a disappointment in Q4 [fourth quarter],” the think tank said.
Inflation MEANWHILE, FMIC and UA&P Capital Markets Research said while inflation increased to 2.5 percent in October, this was only transitory. The think tank said food prices have slowed in the past five months and core inflation remained which excludes food and energy prices, thus, eased to 3 percent from 3.2 percent in September. The think tank said inflation is expected to resume its slowdown in December and will be below 2 percent by January 2021. Slower inflation is expected to boost GDP as the Philippine economy remains a consumption-driven one. “While crude oil prices have bounced back in early November, they just went back to where they were in September and inventories continued to bulge,” it added. In the third quarter, local economists said the recovery of the Philippine economy may take longer than earlier anticipated as consumption spending remained subdued. The PSA disclosed that GDP contracted 11.5 percent in the third quarter. With this, GDP in the last three quarters contracted an average of 10 percent. Based on PSA data, even rich Filipinos, or those with the means, are holding on to their cash as indicated by the steep decline in spending for valuables which include heirloom jewelry, antiques, and other similar luxury items. Ateneo Center for Economic Research and Development (ACERD) Director Alvin P. Ang agreed with this estimate, saying recovering economic losses caused by the pandemic may take three years. This is due to weak demand that remains a problem for the economy. Ang said many Filipinos hesitate to spend, while others may not have enough to spend. Household Final Consumption Expenditure (HFCE) contracted 9.3 percent in the third quarter. Last quarter, HFCE contracted 15.3 percent while it grew 6 percent in the third quarter of last year.
www.businessmirror.com.ph
Lacson pitches ₧63-B cuts, but backs a special budget
S
ENATOR Panfilo Lacson, signifying support for an option to pass a “special budget” like the Bayanihan to Heal As One Act, listed additional amendments to the P4.5-trillion budget bill for 2021 to “ensure the annual money measure is responsive to the sign of the times.”
Lacson proposed amendments augmenting next year’s budget to promote health, development and economic recovery in the wake of the Covid-19 pandemic. At the same time, Lacson affirmed he was “open to passing a special budget or special law like the Bayanihan to Heal As One Act to allow the President to realign funds to purchase Covid-19 vaccines.” “I want the budget to be responsive to the sign of the times. I want it to be responsive to the budget philosophy of Reset, Rebound, Recover. These are what we need for 2021. Not the multipurpose buildings, not the double appropriations, not the right-of-way payments that cannot be accomplished anyway,” the senator said
in a televised interview, adding: “First things first. We should first address the pandemic and its effects: Health issues, development, recovery of the economy. Those are what we need to address in the 2021 budget.” Lacson's list of budget amendments includes: • Deleting P63 billion from the budgets of the Department of Public Works and Highways (DPWH), the Department of Environment and Natural Resources (DENR) National Greening Program, and National Irrigation Administration (NIA), including: at least P60 billion from the DPWH for multipurpose buildings except those to be used as evacuation and quarantine facilities, as well as double appropriations, right-of-way payments and
also overlapping projects; and some P500 million from the NIA due to some implementation issues. At the same time, Lacson proposed that the cut amounts be realigned to other agencies and programs including: • At least P20 billion for local government units in areas hit hard by recent typhoons, via the Assistance to Local Government Units-Local Government Support Fund (Algu-LGSF). This includes assistance for evacuation centers and quarantine facilities, for livelihood, and for reconstruction. • At least P12 billion for the Department of Information and Communications Technology, to at least start its P18-billion national broadband program, to end government’s reliance on private telcos for Internet, and result in P34 billion in savings in five years; and free Wi-Fi program. • Additional budget for the flexible learning options of the Department of Education. • Augmentation of at least P8 billion more for the Department of Health to implement the Universal Health Care program via the Health Facilities Enhancement Program (HFEP), which needs at least P13 billion. Lacson signalled he was open to passing a special budget or even a special law to ensure the govern-
ment can procure vaccines for Covid-19, saying: “If we need to even pass a special budget for that or a special law like Bayanihan where the President can realign funds from some items for the purchase of the vaccines, we will do that.” He, however, clarified the P16.4-billion fund for the antiinsurgency program will be needed for development projects—particularly to barangays cleared of insurgency activities. “What will happen to those communities affected by conflict, if we will just abandon them without developing them? The people there will be open to recruitment by the NPAs again. So that is the wisdom I see on why we should retain the P16.4 billion.... It’s not about combat operations,” he said, adding it is the Interior Department that will vet the items to be funded. This as Lacson likewise signalled that majority of the senators’ support retaining the amount. The senator admitted he initially planned to have President Duterte’s confidential and intelligence funds reduced for 2021, but decided not to after learning from the police, military and intelligence community that the President “would always augment whatever intelligence funds they would need to accomplish their mission.” Butch Fernandez
‘MISSING LAWYER NOT HANDLING SENSITIVE CASES’
F
OR the Department of Tourism (DOT), the disappearance of lawyer Ryan Oliva doesn’t appear to be work-related. DOT Undersecretary for Legal Affairs Edwin Enrile told the BusinessMirror, “Atty. Oliva is the head of our Legislative Liaison Office. He wasn’t handling anything sensitive, just pending bills [position papers and hearings], coordination with House and Senate, especially for [our] budget.” Oliva, a law professor at the University of the Philippines, has been missing since Saturday, November 21. According to a DOT news statement, Oliva “was last contacted on November 22, Sunday,” although DOT officials now say this was a mistake, after basing it on an unconfirmed report that the lawyer had met the UP Chan-
cellor on Sunday morning. A separate news statement from the UP Law Department said Oliva has been “missing and unheard from since Saturday, November 21, 2020. He was last seen leaving his house in Commonwealth, Quezon City, on November 21.” Asked about Oliva, Tourism Secretary Bernadette Romulo Puyat responded via Viber, “Mabait ’yang batang ’yan [He’s a good kid].” The DOT expressed its “deep concern” for the missing lawyer and said it has coordinated with the Philippine National PoliceCriminal Investigation and Detection Group (PNP-CIDG), “and is in constant communication with Atty. Oliva’s family.” The DOT urges everyone who may have any information on the
whereabouts of Atty. Oliva, to coordinate with the PNP-CIDG through its hotline: 0998-9674924. The DOT also requests for prayers for successful search efforts and appeals for respect for
the privacy of the Oliva family. UP asks the public to text or call +63922-860-1900, +63906300-1009 or email findingattyryan@gmail.com for any information on his whereabouts. Ma. Stella F. Arnaldo
Cold-chain firms can host Covid vaccines Continued from A12
Dialogue with government
DIZON’S group is seeking a dialogue with the government, especially with Vaccine Czar Carlito Galvez Jr., to be abreast of its Covid-19 vaccine roadmap or blueprint, particularly its distribution plan for the vaccine. Knowing what vaccine the government will procure would help the industry make cost estimates, prepare ahead of time on the necessary logistics requirement. He said CCAP has engaged with the transport sector and they received the assurance of logistics providers that they can provide enough reefer vans to transport Covid-19 vaccines, except that of Pfizer, owing apparently to its extra-cold storage requirement. He pointed out that one critical matter to be addressed is the last storage stop for the vaccine, which would be the health center or hospitals where vaccination would take place. This is important, Dizon said, to ensure that the cold-chain handling of the vaccine would not be
broken to ensure its efficacy and proper storage. “Vaccines requiring 2°C could be stored in styro boxes with ice, while those that need -20°C can be kept in chest-type freezers,” he said. Dizon said the industry is also willing to share information with the government on the possible costs required to cover the cold chain and distribution management of the Covid-19 vaccine. “We would like to share in the efforts [in solving this pandemic]. And we want to exchange information with the government on what challenges are expected in the distribution,” he said.
Zuellig expansion
MEANWHILE, health-care provider Zuellig Pharma is expanding its cold-storage capabilities in Asia, including in the Philippines, to prepare for the stockpiling of Covid-19 vaccine. In a statement on Wednesday, Zuellig Pharma said it is adding cold storages in its Asian markets over the next 12 months as it ramps up its capabilities for storage
and distribution of vaccines. In the Philippines, Zuellig Pharma maintains capacity to store products at -20°C, and plans to purchase an additional 10 medical-grade freezers to bolster its existing capacity in -80°C storage. Likewise, it will add five new cold chambers in the country, and one each in Cebu and Davao in January of next year. Zuellig Pharma also saw an opportunity in the opening of a new Metro Drug national distribution center in September in Santa Rosa, Laguna. The facility—25,000 square meters in size—is equipped with automation and energy-efficient functionalities, including 10,000 square meters of solar panels, LED intelligent lighting, as well as water-chilled cooling system. The facility is also the first Leadership in Energy and Environmental Design-certified warehouse. The certification is given by the United States Green Building Council to encourage the building of energy- and resource-efficient infrastructure which are healthy to live in. Zuellig Pharma CEO John
Graham said the firm is working with partners from both the public and private sectors for the necessary infrastructure to store Covid-19 vaccine. “Covid-19 has severely tested our operations over these past few months, but it has also presented operations for transformational change at Zuellig Pharma. We are focusing on innovation to lead the transformation of the health-care system,” Graham explained. “At the same time, we are working closely with governments, nongovernment organizations and manufacturers across the region to understand their needs and plan for the necessary logistical infrastructure in preparation for the Covid-19 vaccine,” he added. Among the capabilities of Zuellig Pharma is its eZCooler. The equipment is an environmentfriendly innovation that extends the storage time of temperaturesensitive products in transit to five days, from the usual two days. The health-care multinational has 80 distribution centers in 13 countries across Asia. With Elijah Felice Rosales
Budget… Continued from A1
The Bureau of Internal Revenue (BIR) collected a total of P1.6 trillion for the 10-month period, 10.38 percent lower than last year’s P1.8 trillion. It has so far collected 95 percent of its revised full-year target of P1.7 trillion. For its part, the Bureau of Customs’ (BOC) year-to-date revenue collection settled at P448.6 billion, falling by 14.98 percent from last year’s P527.7 billion. This is equivalent to 89 percent of the P506.2-billion revised program for the year. The Bureau of the Treasury’s (BTr) income from January to October period grew 61.33 percent to P208.5 billion from P129.2 billion last year. On top of surpassing its original full-year target of P82.3 billion, the year-to-date income of BTr also accounts for 98 percent of the revised program of P213.3 billion on account of higher dividend collection and other government service income, as well as interest on advances from government-owned and -controlled corporations. Total collection by other offices also dived by 20.87 percent to P104.6 billion from P132.2 billion in the same period last year due to the impact of the community quarantine on the operations of the government collecting agencies. On the other hand, cumulative government expenditures for the 10-month period reached P3.3 trillion, which is 12.75 percent higher than the P2.9-trillion spending performance in 2019. Primary spending (net of interest payments) also rose by 13.49 percent to P2.977 trillion from P2.62 trillion in 2019. Interest payments also went up by 6.54 percent to P335 trillion from P314.5 trillion in the previous year. For October alone, government revenues dropped by 12.75 percent to P228.2 billion this year from P261.6 billion in the same month in 2019. Revenues collected by the BIR declined by 14.62 percent to P152.1 billion from P178.1 billion in the same month last year. Similarly, BOC’s revenue take also decreased by 12.25 percent to P50.6 billion from P57.7 billion in October last year. For the same month, BTr’s income was also down by 34.9 percent to P6.9 billion from last year’s P10.6 billion because of lower national government share from the income of state-run Philippine Amusement and Gaming Corporation (Pagcor) and the profit of Manila International Airport Authority, as well as interest income from national government deposits, but was partially offset by a 57.38-percent increase in Bond Sinking Fund investment earnings. Collections by other offices in October also grew by 31 percent year-on-year to P17.5 billion from P13.4 billion a year ago due to the P10-billion proceeds from the transfer of Municipal Development Fund Office government securities assets to the national government in compliance with Section 4 (ttt) of RA 11494 or the Bayanihan to Recover as One Act. Meanwhile, government expenditures for the month amounted to P289.6 billion, 6.84 percent lower than P310.8 billion in October 2019. The BTr said the drop was largely attributed to the base effect of the oneoff pension differential releases for the military and uniformed personnel in the same month last year, as well as the expected lower capital outlays this year due to the pandemic. Primary spending for the month slid by 7.79 percent to P267.5 billion from P290.1 billion in 2019. Interest payments were also up by 6.49 percent to P22.1 billion from P20.7 billion last year. The Development Budget Coordination Committee (DBCC) projects the country’s budget deficit to more than double to 9.6 percent of GDP or P1.815 trillion this year, from only 3.4 percent of GDP or P660.2 billion last year. The DBCC also expects the economy to contract by 5.5 percent this year, potentially marking the country’s worst economic downturn in 35 years.
BusinessMirror
www.businessmirror.com.ph
ESTABLISHMENT / ADDRESS NO.
FOREIGN NATIONAL / NATIONALITY
ESTABLISHMENT / ADDRESS POSITION
8 STONE BUSINESS OUTSOURCING OPC 5-10/f Tower 1 Pitx Kennedy Road Tambo Parañaque City 1.
CAO, JIAHUI Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
2.
DU, HAOQI Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
HAN, YU Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
LIANG, MUSHENG Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
5.
TANG, FEI Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
6.
WANG, DECHENG Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
WU, SIMIN Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
8.
WU, GUOFU Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
9.
LIU, YUANFEI Chinese
MANDARIN CUSTOMER SERVICE REPRESENTATIVE
10.
LU, SIJIA Chinese
MANDARIN CUSTOMER SERVICE REPRESENTATIVE
11.
QIU, JIANLIN Chinese
MANDARIN CUSTOMER SERVICE REPRESENTATIVE
3. 4.
7.
AMAZON OPERATION SERVICES PHILIPPINES, INC. B21 Three E-com Moa Complex Harbour Drive Cor. Bay Shore Brgy. 076 Pasay City 12.
STANCU, VASILE Romanian
HR ASSISTANT II
13.
LI, PEIYING Taiwanese
INVESTIGATION SPECIALIST
14.
BATTULGA, TUVSHINTUGS Mongolian
JAPANESE SPEAKING HR SERVICE ASSOCIATE
HAN, JING Chinese
SELLER SUPPORT ASSOCIATE
15. 16.
YEW SHIN YANG Malaysian
SELLER SUPPORT ASSOCIATE
BIG EMPEROR TECHNOLOGY CORP. 5f-13f, Jiaxing Tower Building Aseana Avenue, Aseana Business Park Tambo Parañaque City 17.
NGUYEN THI YEN Vietnamese
COMPUTER SYSTEM ANALYST
18.
CHEN, HONGBO Chinese
MANDARIN CUSTOMER SERVICE
19.
CHEN, YOUQIN Chinese
MANDARIN CUSTOMER SERVICE
20.
FU, ZHONGTAO Chinese
MANDARIN CUSTOMER SERVICE
21.
GE, RUNPU Chinese
MANDARIN CUSTOMER SERVICE
22.
HUANG, LONG Chinese
MANDARIN CUSTOMER SERVICE
23.
SUI, MANLI Chinese
MANDARIN CUSTOMER SERVICE
24.
WU, JINLING Chinese
MANDARIN CUSTOMER SERVICE
25.
XU, SHUZHEN Chinese
MANDARIN CUSTOMER SERVICE
26.
YANG, RONGXIA Chinese
MANDARIN CUSTOMER SERVICE
27.
YAO, QIXIAN Chinese
MANDARIN CUSTOMER SERVICE
28.
ZENG, PENG Chinese
MANDARIN CUSTOMER SERVICE
CHINA RAILWAY NO.3 ENGINEERING GROUP CO., LTD. PHILIPPINE BRANCH Unit A&b 20/f Rufino Pacific Tower 6784 Ayala Ave. San Lorenzo Makati City 29.
LIU, ZUZHI Chinese
MANDARIN GENERAL MANAGER
DA SUCCESS BUSINESS TRADING INCORPORATED Unit 25d 2/f Zeta Ii Bldg. 191 Salcedo St. San Lorenzo Makati City 30.
31.
JI, LIN Chinese LI, JIANGCHENG Chinese
CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE
32.
LIAO, ZHE Chinese
CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE
33.
LUU GIA HAN Vietnamese
CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE
DYNA BINARY HOLDINGS INC. 18/f Tower 2 The Enterprise Center, 6766 Ayala Ave., Cor. Paseo De Roxas San Lorenzo Makati City 34. 35. 36.
CHOO JIAN HAO Malaysian
CHINESE SPEAKING DATA ENTRY CLERK
HOANG MINH TAM Vietnamese
CHINESE SPEAKING DATA ENTRY CLERK
VONG GIA NGAN Vietnamese
CHINESE SPEAKING DATA ENTRY CLERK
37.
WANG, CHONG Chinese
CHINESE SPEAKING DATA ENTRY CLERK
38.
WANG, MIN Chinese
CHINESE SPEAKING DATA ENTRY CLERK
39.
YIN, YAO Chinese
CHINESE SPEAKING DATA ENTRY CLERK
40.
ZENG, YONG Chinese
CHINESE SPEAKING DATA ENTRY CLERK
FIRST GREAT COMPUTER TECHNOLOGIES INC. Lot 5 Sta. Agueda Cor. Queensway Pagcor Drive Sto. Niño Parañaque City 41.
XIONG, ZIJUN Chinese
MANDARIN CUSTOMER SERVICE REPRESENTATIVE
NO.
FOREIGN NATIONAL / NATIONALITY
ESTABLISHMENT / ADDRESS POSITION
FLYING DRAGON NETWORK PHILIPPINES INC. Malate Bayview Mansion 1781 M. Adriatico Street 076, Brgy. 699 Malate Manila 42.
CHAI, SHUYUAN Chinese
CHINESE CUSTOMER SERVICE
43.
CHEN, XIANGMIN Chinese
CHINESE CUSTOMER SERVICE
44.
LI, JING Chinese
CHINESE CUSTOMER SERVICE
MA, JIAHUI Chinese
CHINESE CUSTOMER SERVICE
45. 46.
WANG, HUIZHONG Chinese
CHINESE CUSTOMER SERVICE
FOREIGN NATIONAL / NATIONALITY
POSITION
83.
YANG, YANXIA Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
84.
YANG, YANG Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
85.
YAP SIN EE Malaysian
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
86.
YE, PENG Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
YIN, ZIXIANG Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
87.
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
89.
YU, JIAO Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
90.
ZHANG, ZHAOPEI Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
91.
ZHANG, TAIJIANG Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
WU, XIAOLI Chinese
CHINESE CUSTOMER SERVICE
48.
CHEN, TIAN Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
49.
WANG, JIEFANG Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
GLOBALLGA BUSINESS PROCESS OUTSOURCING Ground Level, Level 2-5 Floor Silver City 4, Ortigas East Ugong Pasig City 50.
NO.
ESTABLISHMENT / ADDRESS
YIN, WENCONG Chinese
47.
CAO, GAOQIN Chinese
Thursday, November 26, 2020 A3
88.
NO.
FOREIGN NATIONAL / NATIONALITY
POSITION
119.
BUI THI PHUONG THUY Vietnamese
CHINESE CUSTOMER SERVICE
120.
CHEN, HAO Chinese
CHINESE CUSTOMER SERVICE
121.
CHEN, HAO Chinese
CHINESE CUSTOMER SERVICE
122.
CHEN, MEIFENG Chinese
CHINESE CUSTOMER SERVICE
123.
DAI, HUAN Chinese
CHINESE CUSTOMER SERVICE
124.
DIEP DUNG SANH Vietnamese
CHINESE CUSTOMER SERVICE
125.
DONG, BIN Chinese
CHINESE CUSTOMER SERVICE
126.
FU, RONGMAO Chinese
CHINESE CUSTOMER SERVICE
127.
GAO, YUANYUAN Chinese
CHINESE CUSTOMER SERVICE
128.
HAN, SHENGGE Chinese
CHINESE CUSTOMER SERVICE
129.
HAO, PENGFEI Chinese
CHINESE CUSTOMER SERVICE
130.
HE, LIANG Chinese
CHINESE CUSTOMER SERVICE
131.
HE, MAOQIANG Chinese
CHINESE CUSTOMER SERVICE
132.
HO DEK XING Malaysian
CHINESE CUSTOMER SERVICE
133.
HU, HAIBING Chinese
CHINESE CUSTOMER SERVICE
134.
HUANG, SHUAI Chinese
CHINESE CUSTOMER SERVICE
135.
HUANG, JIAN Chinese
CHINESE CUSTOMER SERVICE
51.
CHEN, SIFAN Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
92.
ZHENG, WANGFEI Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
52.
CHEN, WEI Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
93.
ZHOU, JIANFEI Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
53.
DENG, HAO Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
HUAWEI TECHNOLOGIES PHILS. INC. U-5302, 53/f Pbcom Tower 6795 Ayala Ave., Cor., V.a. Rufino St. Bel-air Makati City
54.
FU, WEILIN Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
94.
NI, QINGHAI Chinese
CONSUMER DEVICE ECOSYSTEM MANAGER
136.
HUANG, CHUAN Chinese
CHINESE CUSTOMER SERVICE
95.
YU, JIAJIA Chinese
FINANCE MANAGER FOR DITO PROJECT
137.
JI, FEIHU Chinese
CHINESE CUSTOMER SERVICE
138.
JIA, XIAOBIN Chinese
CHINESE CUSTOMER SERVICE
139.
JIANG, HUI Chinese
CHINESE CUSTOMER SERVICE
55.
GUI, ZEMING Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
56.
GUO, HAO Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
HUANG, WEIHAN Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
HUANG, PEICHUANG Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
JIAO, LIANG Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
60.
JIN, DONGMING Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
61.
KANG, CHUNLI Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
62.
LI, WENXUE Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
63.
LI, XUE Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
64.
LI, RIXI Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
65.
LI, JUNLEI Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
66.
LIANG, RIDONG Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
67.
LIAO, ZHANGLEI Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
68.
LIU, SILIN Chinese LOO CHEE SIONG Malaysian
57. 58. 59.
69.
97.
YUN, YOUNGBAE South Korean
COMMUNICATION SYSTEM MANAGER
141.
JING, JIANCHAO Chinese
CHINESE CUSTOMER SERVICE
98.
KIM, JOONMO South Korean
CONTRACT MANAGER
142.
KANG, JUN Chinese
CHINESE CUSTOMER SERVICE
YANG, HEE KAP South Korean
SYSTEM ENGINEERING MANAGER
143.
KYAW MYINT TUN Myanmari
CHINESE CUSTOMER SERVICE
144.
LEI, YONG Chinese
CHINESE CUSTOMER SERVICE
145.
LI, XIAOCHANG Chinese
CHINESE CUSTOMER SERVICE
99.
INVECH TREASURE PROCESSING CORPORATION Ground, 2nd, 3rd, 4th, 5th Floor Six West Campus Mckinley West Fort Bonifacio Taguig City 100.
TING CHIEW SIA Malaysian
COMPUTER SYSTEM ANALYST
146.
LI, SHENLIANG Chinese
CHINESE CUSTOMER SERVICE
101.
HE, JINQUAN Chinese
I.T TECHNICAL MANDARIN
147.
LI, YUNSEN Chinese
CHINESE CUSTOMER SERVICE
102.
SHI, MINGYANG Chinese
I.T TECHNICAL MANDARIN
148.
LI, ZAOJIN Chinese
CHINESE CUSTOMER SERVICE
103.
WANG, DONGHUO Chinese
I.T TECHNICAL MANDARIN
149.
LI, ZHEN Chinese
CHINESE CUSTOMER SERVICE
104.
WANG, PENG Chinese
I.T TECHNICAL MANDARIN
150.
LI, XIN Chinese
CHINESE CUSTOMER SERVICE
151.
I.T TECHNICAL MANDARIN
LIN, HUIYUN Chinese
CHINESE CUSTOMER SERVICE
105.
YANG, JUN Chinese
152.
CHINESE CUSTOMER SERVICE
106.
ZHANG, SHUAI Chinese
LIN, GUANQIANG Chinese
I.T TECHNICAL MANDARIN
153.
LIU, CAIRONG Chinese
CHINESE CUSTOMER SERVICE
154.
LIU, LONG Chinese
CHINESE CUSTOMER SERVICE
155.
LIU, XINGZHI Chinese
CHINESE CUSTOMER SERVICE
156.
LIU, ZENGXIN Chinese
CHINESE CUSTOMER SERVICE
157.
LY THI THANH DAO Vietnamese
CHINESE CUSTOMER SERVICE
J-NA ALLOUT TECHNOLOGY SOLUTIONS CORP. 3/f Lipams Bldg. #48 President Avenue Bf Homes Parañaque City
108.
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
JINDINGYUAN BUSINESS SUPPORT, INC. 3-9/f Filinvest Cyberzone Bldg. A, Bay City Brgy. 076 Pasay City
72.
SHI, ZHIPING Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
73.
SUN, ZHIWEN Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
74.
SUN, YUNPENG Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
75.
TAN, KUN Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
76.
TIAN, TIAN Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
77.
WAN, YE Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
WANG, QIANG Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
XIE, SHIWEN Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
XIE, HONGYAN Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
82.
CHINESE CUSTOMER SERVICE
KOREAN CUSTOMER SERVICE REPRESENTATIVE
71.
YANG, YONG Chinese
JIANG, MEILING Chinese
SUNG, JUNGHA South Korean
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
XU, YUNXIAO Chinese
140.
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
PENG, LI Chinese
81.
ACCOUNT MANAGER
FINANCE OFFICER
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
80.
KWON, OH KAB South Korean
KWON (SPOUSE OF SEO), TAEYEON South Korean
LU, ZHILONG Chinese
79.
96.
107.
70.
78.
HYUNDAI ROTEM COMPANY MANILA BRANCH 3/f Unit B One Felicity Center Bldg. Commonwealth Ave. Holy Spirit 2 Quezon City
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
158.
CHINESE CUSTOMER SERVICE
CUSTOMER SERVICE REPRESENTATIVE
LYU, HAONAN Chinese
109.
SHAO, WEIWEI Chinese
159.
CHINESE CUSTOMER SERVICE
110.
TAN, MINGGUANG Chinese
CUSTOMER SERVICE REPRESENTATIVE
MA, YANBO Chinese
160.
MA, DEHUA Chinese
CHINESE CUSTOMER SERVICE
161.
MO, FUSHENG Chinese
CHINESE CUSTOMER SERVICE
162.
NAN, YINGYING Chinese
CHINESE CUSTOMER SERVICE
163.
NGUYEN TRUONG CHINH, Vietnamese
CHINESE CUSTOMER SERVICE
164.
NIU, YAO, Chinese
CHINESE CUSTOMER SERVICE
165.
PENG, KAISHEN, Chinese
CHINESE CUSTOMER SERVICE
166.
PHAM NGOC CHINH Vietnamese
CHINESE CUSTOMER SERVICE
167.
PHAM VAN SON Vietnamese
CHINESE CUSTOMER SERVICE
168.
QIAO, YUBIN, Chinese
CHINESE CUSTOMER SERVICE
169.
QIAO, LUOLUO, Chinese
CHINESE CUSTOMER SERVICE
170.
QIN, HUA, Chinese
CHINESE CUSTOMER SERVICE
171.
QIN, FUSHI, Chinese
CHINESE CUSTOMER SERVICE
172.
REN, QINGFENG, Chinese
CHINESE CUSTOMER SERVICE
173.
REN, JIE, Chinese
CHINESE CUSTOMER SERVICE
174.
RU, CHENGKAI, Chinese
CHINESE CUSTOMER SERVICE
175.
SAI THUREIN OO, Chinese
CHINESE CUSTOMER SERVICE
176.
SHANG, WEIDON, Chinese
CHINESE CUSTOMER SERVICE
177.
SHANGGUAN, FUZHANG Chinese
CHINESE CUSTOMER SERVICE
178.
SHAO, HU, Chinese
CHINESE CUSTOMER SERVICE
179.
SHENG, YAN, Chinese
CHINESE CUSTOMER SERVICE
180.
SHU, LIPING, Chinese
CHINESE CUSTOMER SERVICE
181.
SONG, CHANGBO Chinese
CHINESE CUSTOMER SERVICE
182.
SU, WENQIANG, Chinese
CHINESE CUSTOMER SERVICE
183.
SU, YONGQING, Chinese
CHINESE CUSTOMER SERVICE
184.
SU, XIAOLING, Chinese
CHINESE CUSTOMER SERVICE
185.
SUK PIN, Indonesian
CHINESE CUSTOMER SERVICE
LEE TIME TRAVEL TOUR AND TRANSPORT, INC. Unit F, 2/f #31 Aguierre Avenue Cor P. Benzon St. Bf Homes Parañaque City 111.
HAN, SEUNGHEE South Korean
OPERATION CONSULTANT
MAERSK GLOBAL SERVICE CENTRES (PHILIPPINES) LTD. Levels 5-8 North Wing, Estancia Offices Capitol Commons Meralco Ave. Oranbo Pasig City 112.
ALONSO TORRES, ANDONI Spanish
RIVER PLATE COLLECTOR SPANISH SPEAKER
113.
FRANCHETTO, LAURA Italian
SENIOR SPECIALIST COLLECTIONS ITALIAN SPEAKER
MEGA-WEB TECHNOLOGIES INC. 6,7,8,9,10,11/f Met Live Bldg. Edsa Cor. Macapagal Blvd. Brgy. 076 Pasay City 114.
115.
116.
LIANG, JIANWU Chinese
MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER
LONG, YUANLING Chinese
MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER
SUN, FEI Chinese
MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER
MITSUBA PHILIPPINES TECHNICAL CENTER CORPORATION Dusit Hotel Nikko Cor. Edsa & Arnaiz Avenue San Lorenzo Makati City 117.
AOKI, SUSUMU Japanese
PRESIDENT
MOA CLOUDZONE CORP. 4th-11th Flr. Nexgen Tower C4 Rd. Edsa Ext. Brgy. 076 Pasay City 118.
AYE AYE HNIN Myanmari
CHINESE CUSTOMER SERVICE
BusinessMirror
A4 Thursday, November 26, 2020 ESTABLISHMENT / ADDRESS
ESTABLISHMENT / ADDRESS
NO.
FOREIGN NATIONAL / NATIONALITY
POSITION
186.
SUN, HUAYONG, Chinese
CHINESE CUSTOMER SERVICE
187.
TAN, FACHENG, Chinese
CHINESE CUSTOMER SERVICE
188.
TANG, KUANBO, Chinese
CHINESE CUSTOMER SERVICE
189.
TANG, QIULIN, Chinese
CHINESE CUSTOMER SERVICE
190.
TANG KIM BINH Vietnamese
CHINESE CUSTOMER SERVICE
191.
TENG, JIAMING, Chinese
CHINESE CUSTOMER SERVICE
192.
TRAN THI NGOC ANH Vietnamese
CHINESE CUSTOMER SERVICE
193.
TRAN VAN TUNG Vietnamese
CHINESE CUSTOMER SERVICE
VI VAN THU Vietnamese
CHINESE CUSTOMER SERVICE
195.
WANG, YINGNAN Chinese
CHINESE CUSTOMER SERVICE
196.
WANG, JIANG, Chinese
CHINESE CUSTOMER SERVICE
197.
WANG, JIAZHE, Chinese
CHINESE CUSTOMER SERVICE
198.
WANG, QIAOYUN Chinese
199.
NO.
FOREIGN NATIONAL / NATIONALITY
www.businessmirror.com.ph
ESTABLISHMENT / ADDRESS POSITION
NO.
FOREIGN NATIONAL / NATIONALITY
ESTABLISHMENT / ADDRESS POSITION
PRIME GREAT COMPUTER TECHNOLOGIES INC. 3/f To 8/f, Nissan Sucat Zentrum Building 8390 Dr. A Santos Avenue Bf Homes Parañaque City
CHINESE CUSTOMER SERVICE REPRESENTATIVE
271.
XIE, YUJUN Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
333.
CHINESE CUSTOMER SERVICE REPRESENTATIVE
CHEN, SONGTAO Chinese
MANDARIN CUSTOMER SERVICE REPRESENTATIVE
272.
XU, PEIHUANG Chinese
334.
CHINESE CUSTOMER SERVICE REPRESENTATIVE
MANDARIN CUSTOMER SERVICE REPRESENTATIVE
273.
YAN, XIAOSA Chinese
DAO, ZHENGXI Chinese
335.
HUANG, HUI Chinese
MANDARIN CUSTOMER SERVICE REPRESENTATIVE
THINK SUPPORT SERVICES, INC. Rm. 602 6/f Vicente Madrigal Bldg. 6793 Ayala Ave. Bel-air Makati City
274.
YAN, MINGMING Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
336.
LI, XINKUN Chinese
MANDARIN CUSTOMER SERVICE REPRESENTATIVE MANDARIN CUSTOMER SERVICE REPRESENTATIVE
388.
275.
CHINESE CUSTOMER SERVICE REPRESENTATIVE
337.
276.
YUAN, WENTING Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
338.
TIAN, BAOCHUAN Chinese
MANDARIN CUSTOMER SERVICE REPRESENTATIVE
277.
YUN, XIAOPING Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
339.
WANG, XIAOYAN Chinese
MANDARIN CUSTOMER SERVICE REPRESENTATIVE
CHINESE CUSTOMER SERVICE
278.
ZENG, CHUIDE Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
340.
XU, LIANGXI Chinese
MANDARIN CUSTOMER SERVICE REPRESENTATIVE
WANG, SONGYANG Chinese
CHINESE CUSTOMER SERVICE
CHINESE CUSTOMER SERVICE REPRESENTATIVE
MANDARIN CUSTOMER SERVICE REPRESENTATIVE
200.
WANG, WEINAN Chinese
ZHANG, XUESHAN Chinese
341.
279.
ZHAO, LEI Chinese
CHINESE CUSTOMER SERVICE
280.
201.
WANG, XIANG, Chinese
CHINESE CUSTOMER SERVICE
ZHANG, JIANTAO Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
202.
WANG, LONG, Chinese
CHINESE CUSTOMER SERVICE
281.
CHINESE CUSTOMER SERVICE REPRESENTATIVE
203.
WANG, WENHAO Chinese
ZHANG, JINSHAN Chinese
CHINESE CUSTOMER SERVICE
204.
WEI, DAN, Chinese
CHINESE CUSTOMER SERVICE
282.
ZHANG, ZIJUAN Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
205.
WU, SHUYAN, Chinese
CHINESE CUSTOMER SERVICE
283.
CHINESE CUSTOMER SERVICE REPRESENTATIVE
206.
WU, XIAOLONG Chinese
ZHANG, JING Chinese
CHINESE CUSTOMER SERVICE
207.
WU, JIABAO, Chinese
CHINESE CUSTOMER SERVICE
284.
ZHAO, YANJUN Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
208.
WU, ZHIPAN, Chinese
CHINESE CUSTOMER SERVICE
209.
XIA, YIQING, Chinese
CHINESE CUSTOMER SERVICE
285.
ELVI Indonesian
INDONESIAN CUSTOMER SERVICE REPRESENTATIVE
210.
XIE, LONGLONG Chinese
CHINESE CUSTOMER SERVICE
286.
DAO XUAN TRUONG Vietnamese
VIETNAMESE CUSTOMER SERVICE REPRESENTATIVE
211.
XIN, YE, Chinese
CHINESE CUSTOMER SERVICE
212.
XIONG, LIN, Chinese
CHINESE CUSTOMER SERVICE
287.
PHONG QUAY LIN Vietnamese
VIETNAMESE CUSTOMER SERVICE REPRESENTATIVE
213.
YANG, FAN, Chinese
CHINESE CUSTOMER SERVICE
288.
214.
YANG, XIAOJIE Chinese
CHINESE CUSTOMER SERVICE
TRAN VAN KHANH Vietnamese
VIETNAMESE CUSTOMER SERVICE REPRESENTATIVE
289.
TRINH THI QUYNH Vietnamese
VIETNAMESE CUSTOMER SERVICE REPRESENTATIVE
YANG, HUIYI, Chinese
216.
YANG, JINLONG Chinese
CHINESE CUSTOMER SERVICE CHINESE CUSTOMER SERVICE
217.
YE, HONGZHAO Chinese
CHINESE CUSTOMER SERVICE
218.
YI, QINGYANG, Chinese
CHINESE CUSTOMER SERVICE
219.
YIN, ZHENXING, Chinese
CHINESE CUSTOMER SERVICE
220.
YU, FEI, Chinese
CHINESE CUSTOMER SERVICE
221.
YUAN, BO, Chinese
CHINESE CUSTOMER SERVICE
222.
YUE, YULIAN, Chinese
CHINESE CUSTOMER SERVICE
223.
ZHANG, RONGLEI, Chinese
CHINESE CUSTOMER SERVICE
224.
ZHANG, LIN, Chinese
CHINESE CUSTOMER SERVICE
225.
ZHANG, JIE, Chinese
226.
ZHANG, KE, Chinese
227.
ZHANG, XURAN, Chinese
CHINESE CUSTOMER SERVICE
228.
ZHANG, JIANHUA, Chinese
CHINESE CUSTOMER SERVICE
229.
ZHANG, YAAN, Chinese
CHINESE CUSTOMER SERVICE
230.
ZHANG, ZHENG, Chinese
231.
POSITION
XIE, YANG Chinese
YANG, XIAOYAN Chinese
215.
FOREIGN NATIONAL / NATIONALITY
270.
LIN, PEIYING Chinese
194.
NO.
NEW ORIENTAL CLUB88 CORPORATION Sky Garage Bldg. Aseana Avenue, Entertainment City Tambo Parañaque City 290.
WANG, YOULIN Chinese
CHINESE CUSTOMER SERVICE
RAPOO PRO TECHNOLOGY CORPORATION Unit 8 Robinsons Cybergate Plaza Pioneer Brgy. Barangka Mandaluyong City 342.
YU, RUOLAN Chinese
CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE
RED DOT MARKETING AND BRANDING INC. Unit 1514 Burgundy Transpacific Place Taft Ave. 079, Bgy. 727 Malate Manila
TELUS INTERNATIONAL PHILIPPINES, INC. Units 23/f, 31st/f - 37th/f Discovery Centre Adb Avenue, Ortigas Center San Antonio Pasig City 387.
UWAMAHORO, AISHA Rwandan
BANG, JUNGSIK South Korean
FRENCH OPERATIONS CSR II
KOREAN SALES CONVEYANCER
TRIVES TECHNOLOGY CORPORATION Tower 4, Bayfort West Naia Garden Residence, Naia Road Tambo Parañaque City 389.
FU, GUANGZENG Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
390.
LIANG, WENJUN Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
391.
NIU, ZHAOYANG Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
392.
SHI, MINGMING Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
393.
TANG, JUNCHAO Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
394.
WU, YANHUI Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
395.
YANG, ZHENHUI Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
396.
YAO, BAIYOU Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
397.
YI, BOHUAN Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
343.
SUWANNACOT, PORNTHIP, Thai
FOREIGN LANGUAGE CUSTOMER SERVICE
344.
SUN, FUCHENG, Chinese
MANDARIN ACCOUNTS STAFF
345.
TEE KIAN WHEE Malaysian
MANDARIN ACCOUNTS STAFF
398.
YU, YAN Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
346.
TU, ZEYU Chinese
MANDARIN TECHNICAL SUPPORT
399.
ZHAO, HAINAN Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
SA RIVENDELL GLOBAL SUPPORT, INC. 5th & 7th Flr. Star Cruises Ce Andrews Drive Newport City Brgy. 183 Pasay City 347.
CHEN, MIAOZE Chinese
CUSTOMER SERVICE REPRESENTATIVE
348.
CHEN, QIANG Chinese
CUSTOMER SERVICE REPRESENTATIVE
349.
CHEN, XIANG Chinese
CUSTOMER SERVICE REPRESENTATIVE
350.
DING, ZHIQIANG Chinese
CUSTOMER SERVICE REPRESENTATIVE
351.
HOU, XIAOLONG Chinese
352.
VAN GOGH BUSINESS PROCESS OUTSOURCING INC. 5th To 8th Flr. Sm Southmall Tower 2 Alabang Zapote Rd. Almanza Uno Las Piñas City 400.
CHEN, QIAN Chinese
COMPUTER TECHNICAL SUPPORT SPECIALIST
401.
LI, BAILIN Chinese
COMPUTER TECHNICAL SUPPORT SPECIALIST
402.
LI, MENGNAN Chinese
COMPUTER TECHNICAL SUPPORT SPECIALIST
CUSTOMER SERVICE REPRESENTATIVE
403.
LIU, YIJIAN Chinese
COMPUTER TECHNICAL SUPPORT SPECIALIST
KE, XIANLAN Chinese
CUSTOMER SERVICE REPRESENTATIVE
353.
LE, YUHUA Chinese
CUSTOMER SERVICE REPRESENTATIVE
VPC CORPORATE SOLUTIONS INCORPORATED 11/f 100 West, Sen Gil Puyat Ave. Cor. Washington St. Pio Del Pilar Makati City
354.
QIN, YONG Chinese
CUSTOMER SERVICE REPRESENTATIVE
404.
WHOLESOME CONSULTING SERVICES CORP. Unit Ug-02, G/f Cityland 10 Tower 2 154 H.v. Dela Costa Cor. Valero Sts. Bel-air Makati City
291.
WANG, WEIZHONG Chinese
CHINESE CUSTOMER SERVICE
292.
XUE, SHOUCHUAN Chinese
CHINESE CUSTOMER SERVICE
293.
ZHANG, CHUNLONG Chinese
CHINESE CUSTOMER SERVICE
CHINESE CUSTOMER SERVICE
294.
ZHAO, XIAONA, Chinese
CHINESE CUSTOMER SERVICE
CHINESE CUSTOMER SERVICE
295.
CHEN, CHENQI, Chinese
CHINESE CUSTOMER SERVICE
355.
TU, YANG Chinese
CUSTOMER SERVICE REPRESENTATIVE
296.
CHEN, MING, Chinese
CHINESE CUSTOMER SERVICE
356.
297.
GEGU, LEQI, Chinese
CHINESE CUSTOMER SERVICE
YANG, BINGQING Chinese
CUSTOMER SERVICE REPRESENTATIVE
CHINESE CUSTOMER SERVICE
298.
GUO, LIXIA, Chinese
CHINESE CUSTOMER SERVICE
357.
YANG, TAO Chinese
CUSTOMER SERVICE REPRESENTATIVE
405.
PITAKSAPPAYAKORN, VEERAVICH Thai
MANDARIN COORDINATOR
ZHANG, ZHIHONG Chinese
CHINESE CUSTOMER SERVICE
299.
HUANG, MINGBO Chinese
CHINESE CUSTOMER SERVICE
232.
ZHENG, SIYI, Chinese
CHINESE CUSTOMER SERVICE
358.
MANDARIN HUMAN RESOURCE OFFICER
ZHOU, JUAN, Chinese
CHINESE CUSTOMER SERVICE
CHINESE CUSTOMER SERVICE
PHUMSAART, THANAKRIT Thai
233.
JIA, GUANGHUI, Chinese
CUSTOMER SERVICE REPRESENTATIVE
406.
300.
YANG, SHENGGAO Chinese
234.
ZHOU, BIN, Chinese
CHINESE CUSTOMER SERVICE
301.
JIANG, CHAO, Chinese
CHINESE CUSTOMER SERVICE
407.
GUO, YANG Chinese
MANDARIN OFFICE SUPERVISOR
235.
ZHU, TAO, Chinese
CHINESE CUSTOMER SERVICE
302.
LI, XIAONAN, Chinese
CHINESE CUSTOMER SERVICE
236.
ZHU, HONGYAN Chinese
CHINESE CUSTOMER SERVICE
303.
LI, YU, Chinese
CHINESE CUSTOMER SERVICE
237.
ZHU, HUANWEI, Chinese
CHINESE CUSTOMER SERVICE
304.
LIU, GUOQIANG, Chinese
CHINESE CUSTOMER SERVICE
238.
AMU, QUDA, Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
305.
LIU, KANGXIONG, Chinese
CHINESE CUSTOMER SERVICE
306.
LIU, XIAOYUN, Chinese
CHINESE CUSTOMER SERVICE
239.
CHEN, LAN Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
307.
NIU, FENGFENG, Chinese
CHINESE CUSTOMER SERVICE
240.
CHEN, XIAOFENG Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
308.
TAO, YANG, Chinese
CHINESE CUSTOMER SERVICE
CHINESE CUSTOMER SERVICE REPRESENTATIVE
309.
TIAN, JUN, Chinese
CHINESE CUSTOMER SERVICE
241.
CHEN, ZHIWEN Chinese
310.
TIAN, RUQIANG, Chinese
CHINESE CUSTOMER SERVICE
242.
CUI, LI Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
311.
WANG, LEI, Chinese
DING, PENGCHENG Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
312.
243. 244.
FENG, CHAO Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
245.
GAN, YANGSHENG Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
GUO, TAO Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
247.
HU, ZAIFU Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
248.
HUANG, YIZHAO Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
249.
HUANG, LIFAN Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
250.
KANG, KUANYIN Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
251.
LEI, YANG Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
252.
LI, XINLEI Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
253.
LI, DUOZHI Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
254.
LI, YUJIAN Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
255.
LI, LONGSHAN Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
256.
LIANG, JU Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
257.
LIU, YAPING Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
258.
LIU, LIHUI Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
259.
LIU, JIE Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
260.
LIU, TIEJUN Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
261.
MA, JUNNAN Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
262.
MEN, ZONGFENG Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
POSCO E AND C BRANCH OFFICE 9/f Philamlife Tower 8767 Paseo De Roxas Bel-air Makati City
263.
MENG, KEMING Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
326.
KIM, YOUNGWOO South Korean
CONSTRUCTION MANAGER
264.
PENG, TIANTANG Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
327.
KIM, BYUNG KOOK South Korean
COORDINATION AND INTERFACE MANAGER
265.
QIN, SI Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
328.
KIM, HO LYUL South Korean
FINANCIAL ADMINISTRATIVE MANAGER
266.
WANG, JIAYU Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
329.
YUN, SANGUK South Korean
PLANNING MANAGER
267.
WU, GUOQI Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
330.
KONG, YOUNG SUK South Korean
PROJECT CONSTRUCTION MANAGER
268.
XIAO, HONG Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
331.
YOON, SUNG HYUN South Korean
PROJECT CONTROL SUPERVISOR
269.
XIAO, HUIFANG Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
332.
CHOI, HYEONGJUN South Korean
PROJECT SCHEDULER
246.
SHEARWATER HEALTH ADVISORS, INC. 35th Flr. Net Park Bonifacio Global City Fort Bonifacio Taguig City 359.
MOHAMED BASHEER, ZABEEL Indian
DIRECTOR FOR BUSINESS EXCELLENCE
SKY DRAGON GLOBAL TECHNOLOGIES CORP. 2f-5f Unit 710 Shaw Blvd. Global Link Center Mandaluyong City
NGUYEN HUU HUNG Vietnamese
VIETNAM - SPEAKING CUSTOMER SERVICE OFFICER
WISEFENCE INC. Level 40 Pbcom Tower 6795 Ayala Ave. Cor. V.a. Rufino St. Bel-air Makati City 408.
XU, JINGJIE Chinese
CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE
360.
CHANG, TONG Chinese
CUSTOMER SERVICE REPRESENTATIVE
361.
GONG, LIZHI Chinese
CUSTOMER SERVICE REPRESENTATIVE
362.
GUO, XIAOBIN Chinese
CUSTOMER SERVICE REPRESENTATIVE
409.
363.
CUSTOMER SERVICE REPRESENTATIVE
CHINESE LANGUAGE CUSTOMER SERVICE STAFF
CHINESE CUSTOMER SERVICE
LAN, XIAOLONG Chinese
HUANG, LINGMIN Chinese
410.
YAN, HONGYANG, Chinese
CHINESE CUSTOMER SERVICE
313.
YAN, SHIFU Chinese
CHINESE CUSTOMER SERVICE
CUSTOMER SERVICE REPRESENTATIVE
CHINESE LANGUAGE CUSTOMER SERVICE STAFF
364.
LAN, WENHUA Chinese
LU QUOC LUAN Vietnamese
365.
WANG, DUO Chinese
CHINESE LANGUAGE CUSTOMER SERVICE STAFF
314.
CHINESE CUSTOMER SERVICE
CUSTOMER SERVICE REPRESENTATIVE
411.
YANG, WENXIN Chinese
LING, LEI Chinese
366.
WU, JIEHUA Chinese
CHINESE LANGUAGE CUSTOMER SERVICE STAFF
YI, FENG Chinese
CHINESE CUSTOMER SERVICE
CUSTOMER SERVICE REPRESENTATIVE
412.
315.
QIAN, QINCHENG Chinese
CHINESE LANGUAGE CUSTOMER SERVICE STAFF
MYANMARI CUSTOMER SERVICE
CUSTOMER SERVICE REPRESENTATIVE
ZONG, CHENG Chinese
316.
WANG, YUGANG Chinese
413.
AYE MYAT THU Myanmari
367.
CHINESE LANGUAGE MARKETING STAFF
MYANMARI CUSTOMER SERVICE
CUSTOMER SERVICE REPRESENTATIVE
HU, XIANJIN Chinese
317.
YE, ZHENZHOU Chinese
414.
YE NAING Myanmari
368.
VIETNAMESE CUSTOMER SERVICE
CUSTOMER SERVICE REPRESENTATIVE
NI, WENHAO Vietnamese
CHINESE LANGUAGE MARKETING STAFF
318.
YU, AIZHEN Chinese
415.
TRAN THI KIM YEN Vietnamese
369.
416.
VI VAN THIEN Vietnamese
VIETNAMESE CUSTOMER SERVICE
YANG, FU Chinese
CHINESE LANGUAGE MARKETING STAFF
319.
SOJITZ FUSO PHILIPPINES CORPORATION 23-f Tower I, Insular Life Corporate Center Insular Life Drive, Fcc Alabang Muntinlupa City
320.
VOONG TRAN LONG Vietnamese
VIETNAMESE CUSTOMER SERVICE
417.
ZHANG, SHA Chinese
370.
CHINESE LANGUAGE MARKETING STAFF
321.
VU THANH TUYEN Vietnamese
VIETNAMESE CUSTOMER SERVICE
SOMI UNLIMITED SOLUTIONS, INC. 6/f Filinvest Cyberzone Bldg. Cbp1 Bay City Brgy. 076 Pasay City
NEWBAY INTERNATIONAL TECHNOLOGY INC. 2/f Mezzanine Tower 1 The Enterprise Center 6766 Ayala Ave. Cor. Paseo De Roxas Makati City 322.
LU, TZU-LING a.k.a. CHEN, TZU-LEI Taiwanese
MANDARIN OPERATION SPECIALIST
NOKIA SOLUTIONS AND NETWORKS PHILIPPINES, INC. 18/f The Curve Bldg. 32nd St. Cor. 3rd Ave. Fort Bonifacio Taguig City 323.
PUIG JIMENEZ, JORGE MIGUEL Spanish
SIOP ENGINEERING MANAGER CONVERGE
324.
LUENGO GOMEZ, MARIA DE LOS MILAGROS Spanish
SIOP INVENTORY MANAGER CONVERGE
PHILSPEC CONSTRUCTION INC. U-503 Metro View Svm Bldg. Quirino Ave., 075 Bgy. 692 Malate Manila 325.
KOO, BONKWAN South Korean
CONSTRUCTION CONSULTANT
SEKITA, NORIYUKI Japanese
DIRECTOR AND EXECUTIVE VICE PRESIDENT
371.
BUI THI HAO DIEN Vietnamese
VIETNAMESE CUSTOMER SERVICE REPRESENTATIVE
372.
CAO HOANG QUAN Vietnamese
VIETNAMESE CUSTOMER SERVICE REPRESENTATIVE
373.
DINH DUONG NGOC DONG Vietnamese
VIETNAMESE CUSTOMER SERVICE REPRESENTATIVE
374.
DOAN VAN TAN Vietnamese
VIETNAMESE CUSTOMER SERVICE REPRESENTATIVE
375.
HOANG XUAN KHANH Vietnamese
VIETNAMESE CUSTOMER SERVICE REPRESENTATIVE
376.
LE TRONG CHINH Vietnamese
VIETNAMESE CUSTOMER SERVICE REPRESENTATIVE
377.
MAI XUAN TUAN Vietnamese
VIETNAMESE CUSTOMER SERVICE REPRESENTATIVE
378.
NGUYEN GIA THE Vietnamese
VIETNAMESE CUSTOMER SERVICE REPRESENTATIVE
379.
NGUYEN HA CHANG Vietnamese
VIETNAMESE CUSTOMER SERVICE REPRESENTATIVE
380.
NGUYEN HUU LUOM Vietnamese
VIETNAMESE CUSTOMER SERVICE REPRESENTATIVE
381.
NGUYEN THAI HOANG Vietnamese
VIETNAMESE CUSTOMER SERVICE REPRESENTATIVE
382.
NGUYEN THUY QUYNH Vietnamese
VIETNAMESE CUSTOMER SERVICE REPRESENTATIVE
383.
NONG VAN QUYNH Vietnamese
VIETNAMESE CUSTOMER SERVICE REPRESENTATIVE
384.
TRAN THANH TUAN Vietnamese
VIETNAMESE CUSTOMER SERVICE REPRESENTATIVE
385.
VU QUYNH TRANG Vietnamese
VIETNAMESE CUSTOMER SERVICE REPRESENTATIVE
SPEED QUALITY TECH INC. 12/f, 14/f & 15/f Alphaland Corporate Tower 7232 Ayala Ave. Extn. Cor. Malugay St. Bel-air Makati City 386.
LA GIA HUE Vietnamese
MANDARIN CUSTOMER SERVICE SPECIALIST
WISHLAND SOFTWARE TECHNOLOGY INC. 28/f Techzone Condo Corp. 213 Buendia Ave. San Antonio Makati City
*Date Generated: Nov 25, 2020 In the ad material of Notice of Filing of Application for Alien Employment Permits published on Nov 21, 2020, the position of YAEGASHI, TAKUMA under MITSUI & CO. (ASIA PACIFIC) PTE. LTD. MANILA BRANCH, should have been read as PROJECT MANAGER- PROJECT & MACHINERY DIVISION and not as published. In the ad material of Notice of Filing of Application for Alien Employment Permits published on Nov 21, 2020, the position of JIANG, XIAOMAO under RAINBOW PROMISE SOLUTIONS INC., should have been read as IT SUPPORT OFFICER (CHINESE SPEAKING) and not as published. In the ad material of Notice of Filing of Application for Alien Employment Permits published on Nov 21, 2020, the position of MA, XUAN under ECHOTECH SERVICES INC., should have been read as MANDARIN FIELD MARKETING MANAGER and not as published. Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at DOLE-NCR Regional Office located at DOLE-NCR Building, 967 Maligaya St., Malate Manila, within 30 days after this publication. Please inform DOLE-NCR if you have any information on criminal offense committed by the foreign nationals.
ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR
News BusinessMirror
www.businessmirror.com.ph
Editor: Vittorio V. Vitug • Thursday, November 26, 2020 A5
ILO notes Marina’s ‘rigid’ processes in SID issuance
T
By Lorenz S. Marasigan
@lorenzmarasigan
HE International Labor Organization (ILO) has included the Philippines on its list of member-states that have “clear, complete and well-documented” processing in the issuance of Seafarer Identification Document (SID). This means that the Philippines has fully met the minimum requirements concerning processes and procedures for the issuance of SIDs, pursuant to Convention No. 185 otherwise known as the Seafarers’ Identity Documents Convention (Revised), 2003, as amended. Maritime Industry Authority (Marina) Administrator Robert Em-
pedrad said this is a “positive development, a significant step towards providing better security for Filipino seafarers, while transiting either to onsign or offsign their ships, or while they are on shore leave in various ports of the world.” The Philippines was included in the ILO list following comprehensive documentation of the
Galvez: It may take 3 to 5 years to vaccinate 60M to 70M vs Covid By Samuel P. Medenilla @sam_medenilla
T
HE nationwide Covid-19 vaccination drive may take three to five years to complete, according to chief implementer of the government’s national policy on Covid-19 Carlito G. Galvez, citing logistical restrictions they face in vaccinating 60 million to 70 million people. “We could vaccinate more or less 20 million to 30 million a year,” Galvez said in an interview with PTV on Wednesday. Among the restrictions the government may face are the amount of doses of Covid-19 vaccine it will be able to purchase in the coming years, as well as the number of coldchain facilities it will be to rent to store the vaccines. Currently, Congress has only set aside P2.5 billion for the vaccination of an initial 3 million people.
Galvez urged lawmakers to allocate a separate P150 billion for the logistical cost of the vaccination drive, which is expected to start by the middle, or second half of 2021. The vaccine czar is confident they will be able to get the fund they requested after the Department of Finance (DOF) earlier announced it is eyeing a P73.2billion budget for the purchase of enough doses of vaccines to immunize at least 60 million people from Covid-19. The Department of Health (DOH), he said, already identified 35 million people to be prioritized for the vaccination drive based on the specifications made by President Duterte. These priority beneficiaries include the poor, health-care workers, as well as government uniformed personnel and their families.
A LARGE group of Filipino seafarers attend a pre-boarding briefing at the Maritime Industry Authority in Manila. NONIE REYES
House bill strengthening Anti-Money Laundering law hurdles 2nd reading T
HE House of Representatives has approved on second reading the bill further strengthening the country’s Anti-Money Laundering law. Voting through viva voce late Tuesday, lawmakers passed House Bill 7904, which seeks to amend the Anti-Money Laundering law of 2001, as amended, to protect and preserve the integrity and confidentiality of bank accounts and to ensure that the Philippines shall not be used as a money laundering site for the proceeds of any unlawful activity. HB 7904, which is one of the priorities of the 18th Congress, is expected to be approved on third and final reading next week. The bill, sponsored by House Committee on Banks and Financial Intermediaries Chairman Junie E. Cua, aims to facilitate the prosecution of persons involved
Delays mar start of second phase of national ID system registration By Cai U. Ordinario @caiordinario
D
ELAYS in the delivery of registration kits thwarted the Philippine Statistics Authority’s (PSA) plan to begin the Step 2 stage in the registration for the national ID system on Wednesday. PSA Deputy National Statistician Rosalinda Bautista told the BusinessMirror that there were also delays in terms of the readiness of the registration system. The registration for the national ID was supposed to be carried out in three stages. The first stage was to collect the demographic information of registrants; step 2 will collect biometric information and perform an iris scan; and the last was to receive the physical national ID which contains the unique PhilCard number. “We did not start Step 2 today. We have delays in the delivery of registration kits and the readiness of the registration client system,” Bautista told the BusinessMirror. “No exact date for start [of Step 2 registration] as of now.” The national ID system is one of the primary means by which the government aims to improve social services. In the National Economic and Development Authority (Neda) forum on digital economy, PSA admitted that the lack of a national ID system may have prompted the existence of “duplicates” in the dis-
tribution of the Social Amelioration Program (SAP) benefits. Based on data shared by PSA, at least 1.1 million of the 18 million recipients were duplicates as identified by the Department of Social Welfare and Development (DSWD) in the SAP. If each of the 1.1 million duplicates received an P8,000 worth of SAP this year, based on the BusinessMirror calculations, this would cost the government around P8.8 billion. “Without a foundational ID system to verify and establish uniqueness of all Filipinos, DSWD and other agencies have had to depend on paper forms, manual registration processes and [no] post-payment validation [was conducted],” Marcos Ryan Laurente of the PSA’s PhilSys Registry Office said in a presentation on Wednesday. “The Philippine Identification System plays a major role in ensuring that we are really giving financial aid or ayuda to the right beneficiary of the social amelioration programs of the government,” he added. Meanwhile, for Step 1 of the national ID system registration, the PSA reported that it has registered 6.289 million as of November 24, or 38 days since the registration began. This represented 63.8 percent of the 9 million target set for the year. Registrations completed last November 24 reached 115,965, or 72.7 percent of the target for the day.
processes and procedures for SID issuance, which was evaluated by an independent body. The SID is a maritime security document developed by the ILO as a response to the growing need for security at seaports as a consequence to series of terrorist attacks. Together with the International Ship and Port Facility Security Code (ISPS), the SID is meant to address and resolve the continuing threat to the security of ships, passengers, and crew. The SID also serves as identifiable verification for seafarers while on shore leave and while they are transiting from one port to another for purposes of embarkation, disembarkation, and medical repatriation. Empedrad said the Marina “remains committed in ensuring that Filipino seafarers are afforded the required security of their persons whenever they leave the Philippines to work on-board various oceangoing ships.”
The registrants came from the provinces of Ilocos Sur, La Union, Pangasinan, Cagayan, Isabela, Bataan, Bulacan, Nueva Ecija, Pampanga, Tarlac, Zambales, Batangas, Cavite, Laguna, Quezon, Rizal, Albay, Camarines Sur, Masbate, Antique, Capiz, Iloilo, Negros Occidental, Bohol, Cebu, Negros Oriental, Davao de Oro, Davao del Norte, Davao del Sur, Davao Occidental, Leyte, and Tawi-Tawi. As of November 24, around 87.3 percent of the enumerators registered an average of 49 Filipinos. They spent 4.5 minutes per registrant leading to an average total transaction time of 9 minutes per registrant. The PSA also reported that 549,729 of those who registered for Step 1 of the national ID system did not have any IDs. Based on the November 20 update of PSA, around 89 percent of registrants so far have signified that they currently do not have bank accounts. According to the PSA, this emphasizes the importance of ensuring the rollout of the country’s national ID program as one of the main hindrances to financial inclusion is the lack of formal identification. PhilSys will allow more Filipinos access to basic banking services and make them less vulnerable to informal lending practices that charge onerous interest rates. Formal identification will also help Filipinos access government and financial services.
in money laundering activities wherever committed by extending the government’s cooperation in transnational investigations on anti-money laundering cases. The measure also seeks to enforce targeted financial sanctions relative to the financing of the proliferation of weapons of mass destruction, terrorism, and financing of terrorism pursuant to relevant United Nations Security Council resolutions. The bill expands the scope of predicate offenses by including tax crimes and violations of the Strategic Trade Management Act on the financing of the proliferation of weapons of mass destruction. It also expands the definition of covered persons to include realestate developers and brokers who engage in buying and selling of real properties. The measure authorizes the
anti-money laundering council to implement targeted financial sanctions, including the ex-parte freezing of funds and assets belonging to individuals, or entities, designated and listed under United Nations resolutions relating to the prevention suppression and disruption of the proliferation of weapons of mass destruction and its financing. The bill also authorizes the AntiMoney Laundering Council (AMLC) to preserve, manage and dispose of assets subject of freeze orders, or asset preservation orders, and to retain forfeited assets pending turnover to the government. It enhances and strengthens the investigative powers of the AMLC, particularly its subpoena and contempt powers. The bill prohibits courts from issuing temporary restraining orders or writs of injunction against the
AMLC in its exercise of freeze and forfeiture powers, with the exception of the Court of Appeals and the Supreme Court. Earlier, the AMLC called on Congress to immediately pass the bill amending the Anti-Money Laundering Act, or AMLA, to address strategic deficiencies in the country’s law. The AMLC warned that failure to amend the weak areas may place the Philippines in the grey-list jurisdiction and even in blacklisting of the Financial Action Task Force (FATF). The FATF publicly identifies jurisdiction that have strategic antimoney laundering and counterterrorism financing deficiencies. According to AMLC, deficiencies and legislative amendments should include tax crimes and proliferation financing under AMLA. Jovee Marie N. Dela Cruz
Council, ECCP slate energy stakeholders dialogue in Dec By Lenie Lectura @llectura
T
HE Philippine Energy Independence Council (PEIC) and the European Chamber of Commerce of the Philippines (ECCP) are urging industry stakeholders to work together to assure the country a reliable and affordable energy supply. The council said it will hold two consensus-building events in December and January to gather industry leaders during the National Energy Consciousness Month. “PEIC and ECCP will host a technical working group meeting on December 10 to engage the industry players in a dialogue which will include forming actionable, visionary measures capitalizing on the convergence of technology, industry, and society,” the council added. The next forum, entitled “Philippine Energy Transition: A Race through Economic Disruption, Technology Shifts and Innovation,” has been set on January 21, 2021. PEIC said this will explore the impact of
decisions and policies on future energy supply, presenting a road map that would enable the industry help reverse economic slowdown, address health risks, and achieve electricity access for all Filipinos. “The Covid-19 pandemic has highlighted how crucial the role of energy plays in making the Philippines more resilient and more inclusive. This adaptation to the ‘new normal’ will see a transition to renewable energy [RE], with access to affordable energy being important in economic development,” said PEIC Chairman Lt. Gen. Rozzano Briguez. Briguez, who also serves as the president and chief executive officer of the Philippine National Oil Co.-Exploration Corp. (PNOC-EC), said the country is still on the brink of energy uncertainty. “The cost of electricity in the country is among the highest in Southeast Asia. We must continuously explore in our backyard for indigenous sources,” he said. ECCP Executive Director Florian Gottein commented that the energy sector plays a crucial role in enhanc-
ing the competitiveness of the Philippine economy. Among the key factors that need to be discussed, he pointed out, are the effective implementation of the Energy Efficiency and Conservation Act and diversification of energy sources. For his part, PEIC President Rolando Paulino Jr. said there is a need to expand the discussion much further on climate change and the collaboration among all stakeholders. “There will be a continuous clamor for clean energy, which will come from the youth and general population. Recent studies showed that by 2024, wind and solar will overtake capacity of coal and other fossil fuels. The challenge right now is how we can educate the public on managing their energy use. One should ask: What are the appliances that consume the most electricity? Whether you’re a residential or commercial owner, there is merit in terms of understanding your energy inventory. In the end, it has a big impact on climate change. We can all do something to make energy more efficient.”
CJ’s order allows four-day workweek for court officials, personnel By Joel R. San Juan @jrsanjuan1573
T
HE Supreme Court has announced that it would start implementing a four-day workweek for court employees and officials until the state of publichealth emergency is lifted. Chief Justice Diosdado Peralta
said in a three-page administrative circular that the new schedule will start on December 1 as part of the Judiciary’s continuing efforts to prevent the spread of Covid infection. “The SC, as administrator of all courts and personnel, acknowledges the need to implement the four-day workweek schedule in the Appellate Court and the lower courts. The re-
spective Appellate Courts i.e., Court of Appeals, Sandiganbayan, and Court of Tax Appeals and the lower courts, through the Office of the Court Administrator, are enjoined to prepare their separate guidelines for implementation,” Peralta said. Peralta, however, clarified that the four-day workweek does not mean that offices would be closed on Fridays.
A
A6 Thursday, November 26, 2020 |
LUZON SPINE EXPRESSWA ON TRACK FOR COMPLET
DPWH’s flagship road infrastructure project t
S
By Roderick L. Abad Contributor
INCE time immemorial, traffic congestion has been the country’s perennial problem that continuously affects not only the peoples’ lives but also impedes the nation’s economic progress and development.
In fact, a Japan International Cooperation Agency (Jica) study released in 2012 revealed that the Philippines had lost P2.4 billion a day due to traffic woes in Metro Manila. Six years later, Jica reported that this figure had grown to P3.5 billion. With the lack of infrastructure intervention, experts project that economic losses could surge to P5.4 billion in 2035. With the massive “Build, Build, Build” program of President Rodrigo Duterte, however, the country could actually reverse the trend. At the heart of this ambitious yet realistic flagship project of the government is the P633 bilion Luzon Spine Expressway Network Program of the Department of Public Works and Highways (DPWH). From the time when Secretary Mark Villar initially laid out their plan for this priority initiative comprised of a total of 905 kilometers (km) of high-standard highways in Luzon—more than twice the existing network of expressways at 382 km—some of the road projects included herein have already come into fruition, while others are undergoing construction or still in the pipeline as scheduled. On track to meet their respective completion targets prior or beyond the term of Duterte by 2022, their collective goal of reducing travel time between Ilocos and Bicol from 20 hours to just nine hours is in the offing. This will be among the legacies that the current administration will leave for today’s generation of public commuters to enjoy when they travel from North to South of Luzon, or vice versa, for the first time in their existence.
Completed highway projects
FOLLOWING Duterte’s election in 2016, the second phase of the Ninoy Aquino International Airport (Naia) Expressway, which spans at 14.85km and with four lanes, was the first project already finished under the Luzon Spine Expressway Network Program in 2017. Upon completion of this P18.07 billion project three years ago, the country’s main gateways to the outside world—Naia Terminals 1, 2, and 3—are now accessible. This elevated expressway from the endpoint of Naia Expressway Phase I to Pagcor Entertainment City also has an interface with the Skyway and Cavite Expressway (Cavitex). Travel time between Skyway and Terminal 1 was cut from 24 minutes to eight minutes. Already done in April 2019, the P9 billion North Luzon Expressway (Nlex) Harbor Link Segment 10 is a 5.58-km expressway that links McArthur Highway to C-3. It lessens travel time from Valenzuela to Caloocan to just five minutes from more than an hour. On a daily basis, it serves 20,000 motorists. Another part of the Nlex Harbor Link, the C3-R10 Section, was also
completed just this year. This 2.6 km, six-lane divided, all-elevated portion of the expressway traverses C3 Road in Caloocan and Radial Road 10 in Navotas. Since the opening of this P6.55 billion project last June, going back and forth from port area to Nlex has been cut from an hour to merely 10 minutes for 30,000 commuters per day. The year 2020, likewise, saw the rise of the P5.79 billion TarlacPangasinan-La Union Expressway (Tplex) that runs at 89.21 km. Going between Tarlac City and Rosario, La Union is now slashed by 2.5 hours from 3.5 hours to an hour, thus, benefiting 20,000 travelers plying here everyday. Its third section, from Urdaneta City in Pangasinan to Rosario in La Union, was opened to traffic last July 15. To further help ease the traffic situation in Luzon, the plan to build an extension (59.4-km, four-lane toll road) from the end of Tplex in Rosario to San Juan, La Union has been greenlighted by the DPWH. The proposed P24.10 billion project is now being evaluated by the National Economic and Development Authority-Investment Coordination Committee. Ahead of its October 31 committed deadline, the DPWH led early last month the ceremonial opening of the P44.86 billion Metro Manila Skyway Stage 3 Project— an 18.83-km elevated expressway from Buendia in Makati to Nlex in Balintawak, Quezon City. This project has five sections—Buendia–Quirino Avenue-Nagtahan, Nagtahan–Aurora Blvd/Ramon Magsaysay Avenue, Ramon Magsaysay Avenue-Quezon Avenue, Quezon Avenue-Balintawak, and Balintawak Quezon City-Nlex Footbridge—that are expected to ease the flow of traffic along Epifanio delos Santos Avenue or Edsa and other major thoroughfares by at least 55,000 vehicles daily. Secretary Villar said that the Skyway Stage 3’s completion is indicative of Duterte’s political will to link each city in Metro Manila within a half-an-hour time frame. For instance, traveling from Makati to Quezon City will be reduced from two hours to only 15 to 20 minutes, while going to South Luzon Expressway (Slex) from Nlex will be shortened from 2.5 hours to only 30 minutes once it fully opens by December of this year.
Ongoing construction activities
UNFAZED by the coronavirus disease 2019 (Covid-19) pandemic, the DPWH has continued working on the other component projects of the government’s north-south spine network initiative. Stretching at 30 km, the fourlane Central Luzon Link Expressway is a P14.94 billion highway project from Tarlac City to Cabanatuan City in Nueva Ecija. It’s almost done already (89.63 percent complete)
and is expected to be finished by July 2021. By then, around 11,200 travelers will enjoy a daily trek there in just 20 minutes from the usual one hour and 10 minutes. The 10 billion Alabang-Sucat Skyway Connection and Ramp Extension Project is presently 47 percent complete. Its additional two lanes northbound and an additional at-grade roadway are set to be finished by next month. Two more lanes southbound, on the other hand, are scheduled to open in July of next year. A slew of other public works are all set to be delivered before or after the president concluded his term of office in Malacañang in 2022.
One of which is the Manila Cavite Toll Expressway Project, C-5 South Link Expressway pegged at P12.645 billion. Traversing this 7.70-km six-lane highway from R-1 Expressway to Slex/C5 will be a breeze in just 10 minutes from 40 minutes that it used to be. Due for completion in the next couple of years, its Segment 3A-1 (Merville to C-5/Slex) was inaugurated and opened to traffic on July 23, 2019, while the groudbreaking rites for Segment 2 (R-1 Interchange to Sucat Interchange) and 3A2 (E. Rodriguez to Merville) were held on July 10, 2020. Further south is the ongoing P35.68 billion Cavite-Laguna
Expressway (Calax), a 45.29-km highway linking Cavitex in Kawit, Cavite and Slex-Mamplasan interchange in Biñan, Laguna. Construction at its portion in Laguna has so far reached 78.03 percent accomplishment rate. A subcontractor for Cavite Segment Subsection 1 has been already mobilized. Once fully done in the next two years, driving here is expected to be shorter from 1.5 hours to 45 minutes. Around 42,477 to 88,338 motorists will be served daily by the Southeast Metro Manila Expressway, C-6 (Phase I) project. This initiative worth P45.29 billion is designed as a 32.664-km toll road from Skyway/
FTI in Taguig to Batasan Complex in Quezon City. To date, its Section 1 (Skyway/FTI-C5/Diego Silang) is 12 percent accomplished. Once finished in 2022, travel time from Bicutan to Batasan from an hour and 50 minutes will be trimed to 26 minutes. The 8-km four-lane NlexSlex Connector Road extends the Nlex southward from the end of Segment 10 in C3 Road, Caloocan to Polytechnic University of the Philippines in Sta. Mesa, Manila, and links to the Skyway Stage 3. This P23.30 billion elevated highway aims to cater to 35,000 motorists per day. With 11 percent of which already done, it’s just on time to be finished
DEPARTMENT of Public Works and Highways (DPWH) Mark Villar (left) shows to President Rodrigo Duterte (center) the map of the Davao City Coastal Road 1 Project. Since it’s opening last September, it has been attracting locals and even non-residents who come in drove to see the iconic Davao Gulf.
Special Feature
| Thursday, November 26, 2020 A7
AY NETWORK PROGRAM TION AMID PANDEMIC
to ensure ease of travel for commuters by March 2022, mitigating travel time from two hours to only 20 minutes. The longest paid highway to rise in two years time—the South Luzon Expressway-Toll Road 4 (TR4) Project—has a length of 66.74km stretching from Sto. Tomas, Batangas to Tayabas/Lucena City in Quezon. Construction of the Tiaong Interchange in Quezon and Alaminos, Laguna is now ongoing. Approximately, 17,000 commuters stand to benefit daily from this P13.10 billion toll road. It will cut travel time from Sto. Tomas to Lucena from four hours to an hour.
Beyond 2022, the Camarines Sur Expressway is expected to lessen the time of traveling in this part of the Bicol region from 51 minutes to 11 minutes. This P9.235 billion highway project (15.21-km divided by four lanes) will connect the municipalities of San Fernando and Pili in Camarines Sur province. It’s construction pace has so far reached 13 percent. The widening of the 24.61-km Arterial (Plaridel) Bypass Road from two lanes to four lanes is almost done at 89.97 percent. The third phase of this P5.26 billion project
is seen to cut average travel time between Burol, Balagtas and Maasim, San Rafael in Bulacan from 69 minutes to 24 minutes. Targeted to be completed in April 2023, it is capacitated to serve 15,000 motorists everyday.
Upcoming expressways
COMMENCING its construction by next year, the proposed NLEX Harbor Link, Segment 8.2 project is an 8.35-km long highway divided by four lanes. This P7.48 billion initiative, with the end goal of decreasing travel
CENTRAL Luzon Link Expressway
time between Mindanao Avenue and Commonwealth Avenue in Quezon City from 45 minutes to 10 minutes, is scheduled to be finished by 2024. A couple of expressways, on the other hand, is expected on the southbound portion of DPWH’s high-speed highway: the Cavite-Tagaytay-Batangas Expressway and the QuezonBicol Expressway. The former is a 50.43-km tollway road across Silang, Tagaytay, Amadeo, Mendez, Alfonso, and Magallanes in Cavite,
Metro Manila Skyway Stage 3
as well as Nasugbu in Batangas. The latter, which spans at 220km, will deduct travel time from Tayabas, Quezon to San Fernando, Camarines Sur by two hours. Meanwhile, five more highways in the pipeline include the North Eastern Luzon Expressway; Central Luzon Link Expressway, Phase II, Cabanatuan-San Jose, Nueva Ecija; North Luzon East Expressway (La Mesa Parkways Project); North Luzon Expressway East; and C3 Missing Link Project (Southern Segment). All these masterplanned
high-standard highways and expressways in Luzon truly show the commitment of the national government, through its engineering and construction arm DPWH, to decongest the road network in the metropolis and other parts of the region that will pave the way for a safe and comfortable travel to the commuting public and, at the same time, provide ample infrastructure support to the local supply chain and logistics sector that is pivotal in the economic growth of the country, especially in these trying times.
Alabang-Sucat Skyway Connection and Ramp Extension
TARLAC-Pagasinan-La Union Expressway
Camarines Sur Expressway
NLEX Harbor Link Segment 10
Manila Cavite Toll Expressway Project, C-5 South Link Expressway
NLEX Harbor Link C3-R10 Section
NAIAX Phase II
NLEX-SLEX Connector Road
Arterial (Plaridel) By-Pass Road, Phase III
Cavite-Laguna Expressway
South Luzon Expressway – TR4
Southeast Metro Manila Expressway, C-6 (Phase I)
A8
Thursday, November 26, 2020
The World BusinessMirror
China vaccine maker applies for public use of Covid shot
A
leading Chinese vaccine developer has applied for authorization to bring its Covid-19 shot to the market, seeking to get a jump on Western rivals as the race for a working inoculation against the virus enters the final stretch.
China National Biotec Group Co. has submitted an application to Chinese regulators, reported state media Xinhua Finance on Wednesday, citing parent company Sinopharm’s vice general manager Shi Shengyi. The application likely includes interim data from the company’s Phase III human testing conducted in the Middle East and South America. Stocks related to Sinopharm Group, including its Hong Kong unit, surged on Wednesday after the news. A CNBG spokeswoman said she had no further information when contacted by Bloomberg. Calls to Sinopharm Group went unanswered. With the application, CNBG will likely become the first developer outside of Russia to see its shots made available for general public use, underscoring China’s determination to be a major player in supplying inoculations to countries around the world. Western
drugmakers like Pfizer Inc. and AstraZeneca Plc are only at the stage of seeking authorization for emergency use of their shots, a status China granted to its developers months ago. But unlike western frontrunners, CNBG has yet to release any public data on the efficacy of its shots in Phase III trials, making it difficult to compare its vaccines to others, or estimate how quickly it is likely to receive approval. The regulator will now review data from CNBG’s Phase I and II trials, plus interim data from its Phase III trials, which Chairman Yang Xiaoming said last week the company has just started un-blinding. China’s drug regulator, the National Medical Products Administration, did not immediately respond to requests for comment. The vaccine race has taken on vital importance as countries look to more definitively re-open their economies and stem a pandemic
that has sickened more than 59 million. Inoculations are seen as the best hope as a fresh wave of infections is forcing nations to reintroduce lockdowns and other restrictions.
Traditional method
A state-owned drugmaker that has a dominant share of China’s vaccine market, CNBG in April was among the world’s first to push experimental shots to the crucial final stage of human testing. The company’s research institutes developed two shots using an inactivated version of the virus to stimulate immune response, an approach widely adopted by many of the existing vaccines used around the world. Such vaccines have the advantage of easier storage and distribution as they don’t need to be frozen—unlike the experimental mRNA vaccines being developed by Pfizer and Moderna Inc. CNBG’s shots can be stored at normal refrigerator temperatures, making access for rural areas and developing countries more likely. CNBG has vaccine supply agreements with several developing countries including Malaysia, Brazil, Pakistan and the United Arab Emirates, according to public reports compiled by Bloomberg. Leading Western developers like AstraZeneca and Pfizer have inked agreements with far more countries. Despite the fact that the vaccines
haven’t yet received regulatory approval for w idespread use, doses have already been given to hundreds of thousands of people in China under an emergency-use program. That has raised concern among scientists of potential risks in using shots whose safety has yet to be thoroughly studied. CNBG has said that its phase III trials—involving more than 50,000 people in countries from Argentina to Egypt—have been progressing smoothly, and it has not received any reports of serious adverse events. Safety has become a major concern as drugmakers compress the vaccine development process from years to a matter of months. AstraZeneca and Johnson & Johnson paused their trials after a participant developed an unexplained illness. Another Chinese frontrunner, Sinovac Biotech Ltd., also saw its trial briefly halted in Brazil after a participant died. All three trials resumed after investigators found no evidence that the events were caused by the vaccines. Pfizer said this month that the shot it co-developed with BioNTech has a protection rate of more than 90 percent. This high level of efficacy was also seen in Moderna’s shots, which use a similar mRNA technology. AstraZeneca’s vaccine, a viral vector developed with the University of Oxford, stopped an average of 70 percent of participants from falling ill, an early analysis showed. Bloomberg News
Trudeau: Canadians won’t be among the first to get vaccine
T
ORONTO—Prime Minister Justin Trudeau said on Tuesday Canada will have to wait for a vaccine because the very first ones that roll off assembly lines are likely to be given to citizens of the country they are made in. Trudeau said the United States, the United Kingdom and Germany have mass vaccine-production facilities but Canada does not. Trudeau said it is understandable that an American pharmaceutical company will distribute first in the US before they distribute internationally. “Shortly afterwards they will start honoring and delivering the contracts that they signed with other countries including Canada,” Trudeau said. “We’re expecting to start receiving those doses in the first few months of 2021.” Trudeau said Canadians won’t
Prime Minister Justin Trudeau speaks to the media about the Covid-19 virus outside Rideau Cottage in Ottawa on Friday, November 20, 2020. Adrian Wyld/The Canadian Press via AP
have to wait for everyone in the US to be vaccinated before Canada gets doses. Trudeau said having pre-bought an array of vaccine candidates
Japan protests China’s island incursions during FM visit
T
OKYO—Japan used a visit by the Chinese foreign minister on Wednesday to protest Beijing’s increased activity and what it calls infiltration around disputed East China Sea islands. Both sides agreed to avoid provocative actions in the contested area. “The situation is extremely serious,” Chief Cabinet Secretary Katsunobu Kato told reporters after meeting with Chinese Foreign Minister Wang Yi, who arrived in Tokyo on Tuesday for a two-day visit. Relations between the two countries have been strained over territorial disputes and wartime history, even though ties have improved in recent years while China’s trade dispute with the US has escalated. The territorial row is centered on Japanesecontrolled East China Sea islands, which Japan calls Senkaku and China calls Diaoyu. Chinese coast guard ships have stepped up activity around the islands despite protests and warnings by the Japanese authorities. Kato said Japan’s government protested earlier Wednesday when Chinese ships entered Japan’s contiguous zone, just outside of its territorial waters, for the 306th time this year. “I conveyed [to Wang] our concerns about the activities of the Chinese government ships around the islands and asked for positive steps by
China,” Kato said. He said Wang said China hoped to make a positive relationship with Japan and play constructive roles in the region. On Tuesday, Japanese Foreign Minister Toshimitsu Motegi and Wang agreed to try not to escalate tensions around the islands. The two foreign ministers also agreed to resume business travel between the world’s second and third economies through a “business track” program that will allow visitors to engage in limited activities during their 14-day quarantine periods. They also agreed to work together on climate change, energy conservation, health care and digital commerce as part of their economic cooperation. Wang is expected to meet with Prime Minister Yoshihide Suga on Wednesday, the first meeting with the Japanese leader by a top Chinese official since the February visit of Chinese foreign policy chief Yang Jiechi. Wang’s visit comes amid growing concerns about China’s increasing influence in the region. Japan is promoting military and economic partnerships with countries in the Indo-Pacific region to counter China’s rise. After his visit to Japan, Wang will head for meetings in South Korea. AP
from foreign manufacturers will help get Canadians effective doses as soon as possible. He noted Canada pre-bought millions of doses from a number of pharmaceutical
companies. “Since the very beginning we knew there would be challenges because unlike the Germans, Americans and the British we don’t have a mass production capacity for vaccines so we had to come up with broader sources than those sources and that’s precisely what we did and we were even criticized internationally because we got too much access to vaccines,” Trudeau said. The issue of access to vaccines was discussed at the G-20 this past weekend and Trudeau said he’s working with allies to make sure there is a free flow of contracts. He said countries recognize that “no one place gets through Covid-19 until all places are through Covid-19.” Opposition Conservative leader Erin O’Toole criticized Trudeau for not ensuring Canadians get priority access to vaccines. AP
Editor: Angel R. Calso • www.businessmirror.com.ph
Russian Covid vaccine to cost less than $10 per dose abroad
M
OSCOW—Russia released new results on Tuesday claiming its experimental Covid-19 vaccine was highly effective, and promised it would cost less on international markets than vaccines by some of its Western competitors. According to the Russian Direct Investment Fund, which bankrolled the development of the shot, Sputnik V will cost less than $10 per dose—or less than $20 for the two doses needed to vaccinate one person—on international markets. The vaccination will be free for Russians, the Fund said. The two-shot jab, the fund promised in a statement, will be “two or more times cheaper” than those by Pfizer or Moderna, which cost about $20 and $15-25 per dose, respectively, based on agreements the companies have struck to supply their vaccines to the US government. Kirill Dmitriev, head of the fund, told reporters on Tuesday that over 1 billion doses of the vaccine are expected to be produced next year outside of Russia. Russia drew international criticism for giving Sputnik V regulatory approval in early August, even though it was yet to complete advanced testing among tens of thousands of people, required to ensure the safety and effectiveness of the vaccine before it is given widely. An advanced study among 40,000 volunteers was announced two weeks after it received government approval. The trial is still ongoing, but the vaccine is already being offered to people in risk groups—such as medical workers and teachers— despite multiple expert warnings against its wider use before it completes all the necessary testing. Several high-profile officials have said they have already taken it, too. President Vladimir Putin, who announced Sputnik V’s approval with much fanfare in August, saying one of his daughters had been vaccinated, has touted the jab as effective and safe, but appeared in no rush to take it himself. Asked whether the president has been vaccinated, Kremlin spokesman Dmitry Peskov said Tuesday that Putin “can’t use an uncertified vaccine.” Peskov pointed out that “widespread vaccination
hasn’t started yet, and the head of state can’t take part in the vaccination as a volunteer.” Two weeks ago, the Moscow-based Gamaleya Institute that developed the vaccine and the Russian Direct Investment Fund said analysis of the study’s early data showed that the vaccine “had an efficacy rate of 92 percent.” The conclusion was based on 20 infections that occurred among 16,000 volunteers. In a new statement on Tuesday, developers of the vaccine put its effectiveness at 91.4 percent, after the second interim analysis of the trial data was carried out based on 39 infections among 18,794 study participants that received both doses of either the vaccine or the placebo. The statement said that eight cases of the virus were registered among 14,095 recipients of the vaccine, and 31 among 4,699 volunteers who got the dummy shots in the trial of Sputnik V. It remained unclear from the statement how coronavirus was diagnosed among the participants of the trial and whether all of them, including those showing no symptoms, were tested for the virus. Both times, the Russian data was based on a much lower number of infections than Western drugmakers looked at when assessing the effectiveness of their vaccines. Moderna said last week its vaccine appears to be 94.5 percent effective after having registered 95 cases of the virus among study participants. Pfizer’s 95 percent efficacy rate was announced after 170 infections were accumulated. On Monday, another drugmaker, Britain’s AstraZeneca, said latestage trials showed its Covid-19 vaccine is highly effective, in a statement that came after registering 131 infections. Developers of the Russian shots said “no unexpected adverse events were identified as part of the research.” Some of those vaccinated experienced pain at the injection point and flu-like symptoms, such as fever, weakness, fatigue and headache. Mass vaccination in Russia is expected to start in 2021, and more than 2 million doses of Sputnik V will be produced in Russia this year, Deputy Prime Minister Tatyana Golikova said on Tuesday. AP
Thailand authorities revive royal defamation law ahead of protest
B
ANGKOK—Thai authorities have escalated their legal battle against the students leading pro-democracy protests, charging 12 of them with violating a harsh law against defaming the monarchy. News of the charges comes as the Thai capital Bangkok girded for another rally on Wednesday as the students push their demands that Prime Minister Prayuth Chan-ocha and his government step down, the constitution be amended to make it more democratic, and the monarchy be reformed to be made more accountable. Police on Tuesday issued summonses for 12 protest leaders to answer charges of lese majeste, defaming or insulting key members of the royal family. The offense is punishable by up to 15 years imprisonment. The law is controversial, because anyone—not just royals or authorities—can lodge a complaint, so it had in the past been used as a weapon in political vendettas. But it has not been employed for the past three years, after King Maha Vajiralongkorn informed the government that he did not wish to see its use. The king has not publicly commented on the law since then. According to the legal aid group Thai Lawyers for Human Rights, the 12 suspects include top protest leaders known for their public criticism of the monarchy.
Many on the student-led protest movement believe the monarchy holds too much power for a constitutional monarchy. But their challenge is fiercely opposed by royalists, who consider the royal institution an untouchable bedrock of national identity. One of the 12 protest leaders, Parit “Penguin” Chiwarak, posted his response to the summons on Twitter on Tuesday, saying: “I am not afraid anymore. The ceiling [of our demands] is destroyed. Nobody can stop us now.” The protest movement late Tuesday night announced a change of venue for their latest rally, which was to put a focus on the monarchy. It had earlier announced that it would be held outside the offices of the Crown Property Bureau, which manages the vast fortune controlled by the king. But the target was later switched to the head office of the Siam Commercial Bank, a publicly held company in which the king is the biggest shareholder. The protest movement announced the change of venue was to avoid a confrontation with police and royalist counter demonstrators, which they said they feared could trigger a declaration of martial law or a coup by the military. The last major rally, outside Parliament, saw chaos and violence as police employed water cannons and tear gas to block the protesters from entering the Parliamentary compound. AP
ZTE’s designation as security threat affirmed by US FCC
T
he US Federal Commun ic at ion s Com m i ssion affirmed its decision to designate ZTE Corp. as a national security threat over concerns telecommunications gear made by the Chinese company could be used for spying. The action shows that the FCC remains determined to drive ZTE and fellow Shenzhen-based manufacturer Huawei Technologies Co. from the US market, where small rural carriers rely on their cheap network equipment. The agency at its Dec. 10 meeting is to consider rules for listing prohibited gear, FCC Chairman Ajit Pai said in a Nov. 18 blog post that identified Huawei as a threat. The FCC has said ZTE and Huawei pose a risk of espionage, an allegation each company denies. The agency has increasingly
scrutinized Chinese companies amid tensions between Beijing and Washington over trade, the coronavirus and security issues. The FCC is considering banning three Chinese telephone companies, and last year barred China Mobile Ltd. from entering the American market. The FCC on June 30 designated both companies national security threats, and ZTE asked the agency to reconsider its listing. The company said it supplies safe and secure equipment and is “clearly and fully dedicated to complying with all applicable laws in the United States.” Pai in an e-mailed statement called Tuesday’s rejection of ZTE’s request “another important step in our ongoing efforts to protect US communications networks from security risks.”
ZTE declined further comment on Wednesday. Its shares slid as much as 4.9 percent in Hong Kong trading. ZTE didn’t dispute that Chinese law obligates its companies “to provide access, cooperation, and support for the government’s intelligence gathering activities,” Pai said in a tweet. Huawei wasn’t mentioned in the FCC news release. The company has separately asked the agency to review its designation, and the FCC is taking comments until Dec. 11 after Huawei filed more than 5,000 pages of documents. The FCC’s action means money from federal subsidies that help underpin many small rural carriers may no longer be used to buy or maintain equipment produced by the companies. The FCC has asked Congress for
money to help the companies remove suspect gear and replace it. Pai renewed the plea on Tuesday. “Now it is more vital than ever that Congress appropriate funds so that our communications networks are protected from vendors that threaten our national security,” Pai said in the news release. Several dozen rural carriers accept the subsidy and use equipment from Huawei or ZTE, the FCC has estimated. It said the average cost for a firm to replace the equipment may range from $40 million to $45 million. Some Chinese investors expect that President-elect Joe Biden will tone down anti-China rhetoric heard from the White House under President Donald Trump, but not change what’s now a bipartisan view in Washington of Beijing as a strategic rival. Bloomberg News
www.businessmirror.com.ph
BusinessMirror
Thursday, November 26, 2020 A9
A10 Thursday, November 26, 2020 • Editor: Angel R. Calso
Opinion BusinessMirror
www.businessmirror.com.ph
editorial
Vaccines are coming, is the Philippines ready?
T
hree pharmaceutical companies successively announced last week they have vaccines that are shown to be highly effective against the coronavirus. On Tuesday, Russia released new results claiming its experimental Covid-19 vaccine was highly effective. On Wednesday, Bloomberg news reported that a leading Chinese vaccine developer has applied for authorization to bring its Covid-19 shot to the market, seeking to get a jump on Western rivals as the race for a working inoculation against the virus enters the final stretch. According to the Russian Direct Investment Fund, which bankrolled the development of the vaccine, Sputnik V will cost less than $10 per dose on international markets—or less than $20 for the two doses needed to vaccinate one person. The two-shot vaccine, the Fund said in a statement, will be “two or more times cheaper” than those by Pfizer or Moderna, which cost about $20 and $15 to $25 per dose, respectively, based on agreements the companies have struck to supply their vaccines to the US government. No price was given for the Chinese vaccine. 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 per dose. Here’s AstraZeneca’s edge as far as developing countries are concerned: While its 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). Dr. Andrew Pollard, chief investigator for the Oxford-AstraZeneca vaccine 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.” Reassuring, too, are the statements made by leaders of the world’s most powerful nations when they wrapped up the Group of 20 summit on Sunday, vowing to spare no effort to protect lives and ensure affordable access to Covid-19 vaccines for all people. The G-20 statement said: “We will spare no effort to ensure their affordable and equitable access for all people, consistent with members’ commitments to incentivize innovation.” The G-20 also expressed support for efforts like COVAX, an international initiative to distribute Covid-19 vaccines to countries worldwide. The US, however, has declined to join under President Donald J. Trump. From the Associated Press: Prime Minister Justin Trudeau said on Tuesday Canada will have to wait for a vaccine because the very first ones that roll off assembly lines are likely to be given to citizens of the country they are made in. Trudeau said the United States, the United Kingdom and Germany have mass vaccine-production facilities but Canada does not. Trudeau said it is understandable that an American pharmaceutical company will distribute first in the US before they distribute internationally. “Shortly afterwards they will start honoring and delivering the contracts that they signed with other countries including Canada,” Trudeau said. “We’re expecting to start receiving those doses in the first few months of 2021.” Vaccine czar Secretary Carlito Galvez Jr. said earlier this month that supplies of Covid-19 vaccine will most likely arrive in the Philippines by the end of 2021 or in early 2022. President Duterte earlier said that his goal is for the government to shoulder Covid-19 vaccination for every Filipino, but only P2.5 billion was allocated for Covid-19 vaccines in the proposed 2021 national budget. Finance Secretary Carlos Dominguez III targets a P20-billion fund for the purchase of a Covid-19 vaccine through a loan from the Land Bank of the Philippines and the Development Bank of the Philippines. We hope the government can raise the needed funds to procure enough vaccines to cover all 100 million Filipinos in the biggest immunization program against the deadly virus. This is of utmost importance because no Filipino is safe from Covid-19 until we are all safe. And this is true all over the world.
Since 2005
BusinessMirror A broader look at today’s business ✝ Ambassador Antonio L. Cabangon Chua Founder Publisher Editor in Chief Associate Editor News Editor Senior Editors
Online Editor Creative Director Chief Photographer Chairman of the Board Ombudsman President Advertising Sales Manager Group Circulation Manager
The best laid plans of mice and men James Jimenez
spox
P
icture this: There we all were at the National Canvassing Center, keeping track of the incoming results from the various precincts nationwide, less than six hours from the close of voting on election day, when suddenly, someone points out that the news outlets had gone dark. We checked the incoming streams of election data and everything was going smoothly, but flicking through the channels on television showed that the media reports of partial and unofficial reports had all but frozen. The transparency server was having problems. I immediately made the trip to the site where the Transparency server was installed and, after a quick but harried conference with the Comelec official in charge, we had a good idea of what might be causing the apparent inability of the transparency server to push election results data out to the media networks, but no easy way to validate our suspicions. For that, we had to open the transparency server logs—the detailed record of the server’s operations—a procedure that required the prior approval of the Commission en banc. But the en banc had adjourned for the day and the Commissioners were off performing other functions. An urgent call to reconvene was immediately issued, and efforts to put the problem in front of the individual
commissioners ensued—before they had even actually gotten back. In the meantime, the media representatives at the transparency server were being briefed about the problem, and various solutions were adopted to allow them to observe the diagnostic procedures being undertaken. By the time the en banc had voted to authorize the opening of the server logs, several hours had elapsed. It was quickly discovered—in full view of the media representatives to the transparency server—that the solution was to essentially re-start the system in what amounted to a highstakes, highly technical version of unplugging your computer, waiting 10 seconds, and plugging it back in. At around midnight, a little over five hours since the problem became
Lourdes M. Fernandez
John Mangun
Jennifer A. Ng Vittorio V. Vitug Lorenzo M. Lomibao Jr., Gerard S. Ramos Lyn B. Resurreccion, Dennis D. Estopace Angel R. Calso Ruben M. Cruz Jr. Eduardo A. Davad Nonilon G. Reyes D. Edgard A. Cabangon Judge Pedro T. Santiago (Ret.) Benjamin V. Ramos Aldwin Maralit Tolosa Rolando M. Manangan
Publishing, Inc., with offices on the 3rd floor of Dominga Building III 2113 Chino Roces Avenue corner De La Rosa Street, Makati City, Philippines. Tel. Nos. (Editorial) 817-9467; 813-0725. Fax line: 813-7025. (Advertising Sales) 893-2019; 817-1351, 817-2807. (Circulation) 893-1662; 814-0134 to 36. E-mail: news@businessmirror.com.ph.
www.businessmirror.com.ph
Printed by brown madonna Press, Inc.–Sun Valley Drive KM-15, South Superhighway, Parañaque, Metro Manila
apparent, I held a press conference with the media staking out the transparency server and explained what had gone wrong and what was being done to correct it. By a little past 1 a.m. the following day, the re-start had been completed and the updating of the partial and unofficial results by the media had resumed. In the aftermath of these events on the night of election day, the Comelec’s accredited citizen’s arm conducted an investigation into what had been labeled in the media as the seven-hour glitch. As expected, the investigation showed that no tampering of election results had taken place; that indeed, the canvassing process had been wholly unaffected (remember what we said last week about the three different tracks of electronic transmission?). The citizen’s arm, however, did take the Comelec to task for, first, the basic fact that the problem happened at all; and second, for what was considered the slow response to the crisis. In hindsight, both observations were—in the bland language of officialdom—well-taken. First, the problem happened because the “pipeline” through which data was supposed to flow from the transparency server to the various media outlet connections had choked up because of the sheer volume of data being pushed through. It has been pointed out that the pipeline should have been more adaptable and that would be
Never try to eat the bear or bull
T. Anthony C. Cabangon
BusinessMirror is published daily by the Philippine Business Daily Mirror
MEMBER OF
BUSINESSMIRROR 11262020
OUTSIDE THE BOX
S
ometime in the future there will be commentary about the early 21st century, say the year 2020. It will be similar as the way we look at Yale economist Irving Fisher writing in the New York Times on October 16, 1929: “Stock prices have reached what looks like a permanently high plateau.” Eight days later the stock market began a four-day crash on what became known as Black Thursday. There will not be a single quote cited that would be way more fun. But the look-back analysis will be that most conventional and traditional stock market wisdom died peacefully on a bed of broker dreams of wealth. All stock market analysis and predictions are always 100 percent accurate. They fail only because a little something was missing from the analysis, like one loose lug nut that attaches the wheel to a car’s axle. What Economist Fisher failed to account for was this. It is not neces-
sarily a good idea to borrow from a bank to buy stocks. It is a terrible idea to use the $10 you borrowed from the bank as collateral to borrow more money from your stockbroker to buy $100 worth of shares. A small decrease in the stock price—which of course Fisher never thought could happen—collapsed the entire 1929 house of cards. The 1987 US stock market crashed after a 175 percent increase in the previous five years. No one considered that the computer programs
that were doing a large amount of the trading would just continue to sell and sell when prices dropped more than “normal.” In a similar situation, humans take a toilet break or call a friend to take time to assess the situation. That is why markets now have “circuit breakers.” The 2000 dot-com bubble crash saw the Nasdaq go up 400 percent, only to fall from its peak in 2002, giving up all its gains during the bubble. It proved that companies that were losing on every single online sale strangely could not make a profit on higher volume. They just lost more money. The analysis was that they needed more time. Time and the stock market wait for no man. Indian author Amit Trivedi wrote in Riding The Roller Coaster, “In a bull market, everyone becomes an expert. In a bear market, everyone becomes wise.” The first part is true; the second part is not true. Jeremy Grantham is a legend as the co-founder/chief investment strategist of Grantham, Mayo, & van Otterloo that had $18 billion under management. He is a “valueinvestor.” His $7.5 billion GMO Benchmark-Free Allocation Fund
an accurate assessment. Second, it was clear that the slow response time was the result of overswing. Think back to 2016 when a highly decentralized management system made it possible for an essentially unauthorized correction to ensure the system properly displayed the “ñ” character was allowed. Well, for 2019, we had swung too far in the opposite direction and made the simple matter of opening the server logs subject to the approval of the full en banc. Again in hindsight, a more nuanced and tiered response system would have been more efficient and would have allowed the Comelec to more rapidly respond to an unfolding crisis. Ultimately, the Comelec paid a steep price for the seven-hour glitch. The credibility of the elections took a hit, and those who were dissatisfied with the outcome were gifted with a new means to call into question—no matter how wrongly—the integrity of the election results. So the question now is, will this happen again? As pointed out by IT experts, any complicated system will always have the potential for something to go wrong; the best laid plans of mice and men and all that. What matters ultimately is that, if another problem arises in the 2022 National and Local Elections, that it will not affect the outcome of the elections in any way, and that the Comelec will be able to respond to it swifter and more sure-footedly than it did the last time.
went “short” in June and has since lost $2 billion. In fact, his value investing portfolio is down from $18 billion in 2015 to the current $6.6 billion. Grantham’s analysis has generally never been wrong. Except, global interest rates have generally never been lower. Canada has never seen its debt-to-GDP ratio increase by 70 percent in nine months. The global central banks have never pumped into the system an amount equal to 0.5 percent of the total global GDP every month. Sometimes the bear eats you; sometimes you eat the bear. Wrong. The stock market bear or bull will always eat you if you fight it. Buy when prices are going up. Sell when prices are going down. And if former Fed Chair Janet Yellen becomes the next US Treasury secretary, expect more money-creating “stimulus.” But mostly for the market, not the actual economy. E-mail me at mangun@gmail.com. Visit my web site at www.mangunonmarkets.com. Follow me on Twitter @mangunonmarkets. PSE stockmarket information and technical analysis tools provided by the COL Financial Group Inc.
www.businessmirror.com.ph
Opinion
Defending the forest
Waiting patiently and on edge
BusinessMirror
may be, but we are sure there will be a new dawn of light.
Msgr. Sabino A. Vengco Jr.
Val A. Villanueva
Businesswise
I
T looks like the Duterte administration—probably alarmed at how ill-prepared its different agencies were in responding to the three cyclones that recently devastated the country—has taken a proactive tack in dealing with natural calamities.
I’m willing to give this government the benefit of the doubt, despite my misgivings about the lack of foresight—in full display—with the way our past and present leaders have been acting during times of catastrophes, and their usual ningas cogon mentality. Interior Secretary Eduardo Año on Monday talked about protecting the forest, as his agency launched a nationwide crackdown on illegal logging and illegal quarrying: “We must act quickly and in a whole-of-society fashion to protect our remaining forests across the country [because we would otherwise be] creating and causing more disasters.” Ulysses, the latest typhoon that visited the country, has unmasked the government’s weakness in responding to natural crises, regardless of the way many politicians strut with grand show and braggadocio around the halls of Congress, while supposedly tackling a host of national problems. Biodiversity and environment experts have for years advocated for forest renewal and conservation, believing that our existing forests are central to the country surviving natural and man-made calamities. In the wake of Ulysses’ onslaught, Año ordered all local government units and the Philippine National Police, not only to plant trees to restore the country’s forest cover but also to halt all illegal logging and illegal quarrying activities in their areas by coordinating with the Department of Environment and Natural Resources (DENR) to reactivate their anti-illegal logging task forces, which would set up checkpoints and arrest illegal loggers for violating the Forestry Code of the Philippines and Republic Act 9175, or the Chainsaw Act of 2002. On social media, countless netizens have propounded that, had quarrying operations been wellregulated in Rodriguez (formerly Montalban), Rizal, the floods there would not have been as intense as they were. Seeing the shocking aerial photographs of the gaping holes and barren areas left by the quarrying companies is certainly a very visceral—not just visual—argument to seal the point. A number of community groups have been protesting these quarry sites for years. Sadly, it took yet another calamity to revisit their cries for help. To kick-start his drive, Año should look closely into the activities of Majestic Earth Core Ventures Inc., the largest operator of quarry sites in Rizal. According to BusinessWise readers residing in the area, former DENR Secretary Mike Defensor is the company’s chair, president, and chief executive officer (as confirmed by the company’s updated web site). He is also the chief executive officer of Pax Libera Mining, Inc. BusinessWise tried but failed to get Defensor’s side. If Defensor is really behind Majestic Earth Core, I hope he consulted with environmental experts before undertaking the company’s quarrying projects and is taking all the necessary steps to ensure that the land will be able to revert to the lush forest it had once been. While there is no doubt his company brings considerable socioeconomic value and raw materials to industries, Defensor should staunchly defend both human life and the environment by making sure that his quarrying operations in Rizal do not place thousands of families at risk during heavy rains. Meanwhile, current Marikina Mayor Marcelino Teodoro has
The Philippines used to be covered in lowland rainforests, mangrove swamps, and verdant forests. Today, our forest cover stands at around 18 percent of our total wooded areas, with a small portion of this being old-growth or virgin forests. Only 5 percent of Philippine forests remain intact, according to environmental watchdog Conservation International. threatened to file an administrative complaint against BF Corp., owned by former City Mayor Bayani Fernando, for undertaking a reclamation project that involved the installation of an artificial embankment which is suspected of contributing to the massive flooding in Marikina. The DENR on Monday confirmed that the project has no environmental compliance certificate (ECC). Also on Monday, at least 15 quarry operators extracting aggregates around Mayon Volcano, which were discovered to have abused their permits, had been recommended to face sanctions, according to the Mines and Geosciences Bureau. Guillermo Molina Jr., MGB director for Bicol, was quoted in the news as saying that investigators from the Task Force Quarry sent by Environment Secretary Roy Cimatu “reviewed the documents of 106 operators but found only 15 that had not complied with the provisions of permits issued by the Albay provincial government.” The whole country is anticipating the next moves of the men President Duterte had assigned to hold accountable those who had destroyed and continue to destroy the country’s bio-system. Will they conduct their duties without fear or favor? The Philippines used to be covered in lowland rainforests, mangrove swamps, and verdant forests. Today, our forest cover stands at around 18 percent of our total wooded areas, with a small portion of this being old-growth or virgin forests. Only 5 percent of Philippine forests remain intact, according to environmental watchdog Conservation International. Some of our virgin rainforests are in the Sierra Madre, the very region that is supposed to shield Luzon from typhoons. We are now one of the most heavily deforested countries in the world. The World Wildlife Fund has designated the Philippines as a crisis deforestation site because the ecosystems in our forests are small, unique, and rapidly vanishing. There seems to be no signs of the slowdown of Philippine deforestation, further aggravating flooding and landslides in many parts of the country. Although logging had been banned since 2011, large companies in cahoots with those in power continue to denude our forests. We have lost more than half a million hectares of forest to illegal loggers since 2001, and this is keenly felt by people who have to bear the brunt of Mother Nature’s power when she strikes. In the meantime, I can only hope that all Filipinos will give importance to an otherwise abstract idea like “environmental preservation.” Let’s be vigilant in calling out the government to act with dispatch against all business endeavors that sully our forests, trees, and mountains. I’m withholding my judgment on the success of this mission. To see is to believe. For comments and suggestions, e-mail me at mvala.v@gmail.com
Thursday, November 26, 2020 A11
Alálaong Bagá
T
he first Sunday of Advent starts our new liturgical calendar for Year B in the three-year cycle of meditating on the Word of God. It is a season of faith, as we are led to focus on the coming of the Lord and of the reign of God. We live in patient expectation, waiting on edge (Mark 13:33-37).
The Lord is coming Our present life is a matter of what is still to come. At no point is it everything already, nor is everything there. Our life is about birth, growth, and maturation; there is even fullness expected in the end of life, in death, into what is eternal. There are depths and dimensions in one’s life and in the world at large still to be discovered and explored, forces to be unlocked so that life can be brought to its full potential. Creation is in progress and its plenitude and completeness are waiting: an optimism that is an essential component of Christian faith. But life is also filled with endless conflicts and catastrophes, the
world a killing field of inhumanity and self-destruction. What is there to wait for? Where is hope? Precisely in this state of the unredeemed and of sinfulness, we need a new tomorrow, to accept redemption and for humanity to pick itself up and finally do what must be done in response to the divine initiative. In the very midst of anxiety, corruption and poverty, broken dreams and divisive illusions, we live in the hope of salvation. The Lord, the Redeemer, is coming. We live in the spirit of Advent. We believe that God can indeed rend the heavens and rain down upon us the conquering charity and justice of a new heaven and a new Earth. Pitch black the night
Stay awake
IN our condition, Jesus has only one insistent recommendation to his followers: “Stay awake!” It could not be otherwise, since no one knows the when and the how of this advent or coming. We must learn the asceticism of the watchman. Jesus gave us the parable of the gatekeeper to emphasize the active vigilance that is the courageous and creative attitude of one aspiring to be open to the wonders of God. It is a focusing of energy, holding back the demons of the night trying to detain the dawn of a new world. It is watching in prayer, giving full attention to God and to others in need. It is staying patiently with Jesus, who at the garden of Gethsemane told his disciples to keep watch with him “lest you fall into temptation” (Mark 14:38). We must stay awake with him amid the global crisis in values and priorities, in the confusion induced by secularism, in the inactivity of the good and the apparent triumph of what is evil. We watch with Jesus, the first born of the new creation, the first born of the dead—of the world sold to sin and death. The waiting of Advent prefigures the vigil of Easter and the
Japan in climate emergency, yet PHL still in business as usual Dr. Rene E. Ofreneo
LABOREM EXERCENS
I
N response to the mounting risks posed by global warming, the lower but more powerful chamber of the Japanese Parliament voted last month to declare a climate emergency. The declaration followed the announcement by the new Prime Minister, Yoshihide Suga, that Japan shall be a “net zero emitter” of greenhouse gas (GHG) by 2050. This means Japan, a major importer of fossil fuel, shall undertake a bold and massive phasing out of coal and gas plants.
These “dirty” coal and gas plants are blamed worldwide as the leading emitters of GHGs, the gases that trap the sun’s heat and cause what the scientists call as “global warming.” In turn, global warming is the reason why the world has been experiencing extreme weather phenomena such as the El Niño/ La Niña climate pendulum, from a season of prolonged drought to one of destructive typhoons. The lifethreatening “risks” associated with GHG-triggered climate changes are now well documented: floods, forest fires, sea rise, disruptions of ecosystems and biodiversity, etc. These climate-change “risks” eventually affect homes, lives, livelihoods, air quality, water supply, health system, human security, economic growth and development of every country in the world. Both developed and developing countries are affected by global warming, alternatively dubbed as climate change. Like Covid-19, global warming is a global problem that cannot be stopped, much less reversed, if there is no unified cooperation and support from all countries of the world. The biggest responsibility is reposed on the big GHG emitters, the rich developed countries (Europe, North America, Japan) and now, China. They have accumulated over 70 percent of the GHGs emitted since the start of the industrial era. In short, they owe the world a high “carbon debt.” This is the reason behind the demand of governments and civil society organizations from developing countries for “climate justice.” In the Philippines, over 100 people’s and civil society organizations have formed the Philippine Movement for Climate Justice (PMCJ). But the battle to stop global warming requires serious commitment from all countries to stop or minimize any further heating of the
world by curbing their respective national GHG emissions. In 2015, the global community of nations, after prolonged and exhausting negotiations, came to a “consensus” in Paris to keep global temperature rise to within 1.5 to 2.0 degrees Celsius of pre-industrial level. Scientists of the Intergovernmental Panel on Climate Change (IPCC) warn that a rise beyond 2.0 degrees will be catastrophic to human life in the world. Unfortunately, not all leaders are believers in climate change. The outgoing American president, Donald Trump, withdrew from the Paris Agreement in 2017, arguing that the said Agreement is unfair to American businesses and workers. The United States happens to be the world’s leading GHG emitter and has the highest carbon debt. Fortunately, more and more countries are seeing the logic behind the IPCC’s recommendation. Close to 200 countries have signed on to the Paris Agreement. Japan’s resolution on climate emergency had been adopted much earlier by Britain, Canada, France and the whole European Union as a bloc. There are also around 2,000 regional and city authorities around the world, including American cities opposed to Trump, which voted for the Paris Agreement. In the case of the Philippines, President Duterte initially expressed opposition to the Paris Agreement in 2016. Then, he reversed himself by signing on to the Agreement the following year. In his recent speech in the Asean Summit early this month, President Duterte even sounded like a CSO activist when he asked for climate justice for the Philippines and other developing countries that have been experiencing climate changerelated disasters. The trouble, however, is that the government has not been fully transparent on the “Nationally De-
The trouble, however, is that the government has not been fully transparent on the “Nationally Determined Commitments” it has submitted under the Paris Agreement. Together with the late Senator Heherson “Sonny” Alvarez, the PMCJ asked for a dialogue in 2019 with the Climate Change Commission regarding the details of the Philippine NDC and the status of their implementation. None of the CCC commissioners showed up in the dialogue.
termined Commitments” it has submitted under the Paris Agreement. Together with the late Senator Heherson “Sonny” Alvarez, the PMCJ asked for a dialogue in 2019 with the Climate Change Commission regarding the details of the Philippine NDC and the status of their implementation. None of the CCC commissioners showed up in the dialogue. The CCC only sent some technical staff, who briefed Senator Alvarez and PMCJ on climate funding possibilities for the Philippines. Nevertheless, the Climate Action Tracker of Berlin rated (as of December 2019) the Philippines’s NDC commitments—summarized as 70 percent reduction in the GHG emissions of the country’s industrial, energy and agricultural sectors by 2030—to be below the “business as usual [BAU] levels.” In the CAT’s rating system, this makes the Philippines’s NDC compatible with the Paris Agreement of keeping the rise in global temperature below 2.0 degrees. The official policy pronouncement of President Duterte on renewables somehow supports the above rating. In July 2019, he declared to “fast-track the development of renewable energy sources and to reduce dependence on traditional energy sources such as coal.” Also in April 2019, he signed into law the Energy Efficiency and Conservation (EE&C) Act, which seeks to improve energy use in the country, aiming to reduce overall demand by 24 percent below BAU by 2040. And yet, CAT noted that the Philippine energy policy related to coal plants is at variance from the country’s GHG-reduction goals. CAT wrote: “…Current policies are not yet on track to meet the NDC target with one of the key issues being the projected growth of coal. In 2015, the Philippines had around 12 GW
marvelous dawn of the new time, a time that is already there but not yet fully so. It comes again and again in a spiral of purity and clarity. Advent is recurrent, because we are in progress and in the making, in time never complete already and finished. The waiting on edge and with patience takes us out of ourselves and apart from what we may consider our real worth. It liberates us from smugness and much-ado over nothing. Alálaong bagá, our Christian faith tells us there is so much to hope for and look forward to. We need to stay awake and wait on edge and patiently. We have to understand here the patience of God who cares for us. For He is like a gardener who awaits the growth of the seeds He has planted, patiently expecting and preparing for the maturation of the flowers and the fruits, knowing the course will take its time. The roots have slowly to grow deep into the ground so that the tree can hold fast till its fullness in the end. The purer is our joy and thanksgiving to Him who has planted in us the seed of the harvest to come. Join me in meditating on the Word of God every Sunday, from 5 to 6 a.m. on DWIZ 882, or by audio streaming on www.dwiz882.com.
of coal-fired power capacity under construction or in the pipeline. Since then it has built around 3.2 GW, with another 14.6 GW on the way, triggering concerns over the potential creation of stranded coal assets worth billions.” In short, energy investments have been flowing in the wrong direction toward coal. CAT also observed that the Philippines has not given a clear definition of the country’s “BAU pathway,” which makes measurement of emission levels uncertain. CAT added: “Nor does it quantify future land use emissions, adding to the lack of transparency.” These are the reasons why CAT classified Philippines’s NDC as “2.0 degree compatible” instead of the ideal “1.5 degree compatible.” The truth is that there are very little indications that the Philippines is seriously working to fulfill its commitments under its NDC to the Paris Agreement. As pointed out, the CCC failed to meet Senator Alvarez and PMCJ on this issue. There is hardly any public discussion on the NDC, Paris Agreement and the importance of declaring a climate emergency. No Senate hearing, no House hearing. On the GHG issue, the coal- and gas-fired plants are still the dominant sources of energy for the country despite the plummeting prices of renewables worldwide. Yes, there is a recent announcement by the Department of Energy to stop issuing permits for the building of new coal plants. But there is no announcement on the phasing out of existing coal plants, as what some countries have done. No announcement halting financing for coal plants, as what Malaysia’s Central Bank governor did. On climate change adaptation, the series of typhoons this year, culminating in the arrival of Rolly and Ulysses, has bared the sad reality: Philippine forests continue to shrink and prevent/reduce flooding in the low-lying areas. This despite the announcement by the previous Aquino administration that it was planting 1.5 billion trees under the National Greening Program. This despite the “enhanced NGP” involving over 7 million hectares, as outlined in the PDP 2017-2022. In summary, it’s business as usual. Concerned officials keep mouthing rhetorics against climate change and yet are unable to report anything substantial on the country’s contribution to the global battle against this climate change pandemic and the country’s readiness against the risks associated with global warming.
A12 Thursday, November 26, 2020
BOI’s tweaked promotions drive touts 5 PHL sectors
U
By Elijah Felice E. Rosales
@alyasjah
SUAL sources, focused industries. The Board of Investments (BOI) on Tuesday recalibrated its promotion campaign to highlight the country’s competitive advantage in five sectors, although it expects capital to still flow from traditional markets, such as United States and Japan. The BOI launched the “Make It Happen in the Philippines” on Tuesday with the goal of netting investors to the country in the pandemic recovery period. The BOI has long been responsible for pitching the Philippines to foreign firms, and this program allows it to consolidate all efforts of investment promotion agencies (IPAs). In a news briefing, Trade Secretary and BOI Chairman Ramon M. Lopez explained the “Make It Happen” campaign should introduce the country’s portfolio to foreign investors, particularly to those in traditional sources like the US,
Japan, South Korea and China. “Big sources of manufacturing investments would still be Japan, Korea, Taiwan and China,” he replied, when asked what countries would the BOI be focusing in this campaign. “The US and the European Union are very substantial, and top of mind these are the countries that we would like to tap and invite in this campaign.” Trade Undersecretary and BOI Managing Head Ceferino S. Rodolfo added the program centers its promotion on five industries: electronics, automotive, aerospace, IT and business process management
(IT-BPM) and copper processing. “This program is heavily focused in terms of sectors. It’s really focused and we are targeting these five industries because we see their potential for growth, especially in the recovery after the pandemic,” Rodolfo said. On the other hand, Lopez argued the “Make It Happen” will only succeed if structural reforms in fiscal policies are made, as he called on lawmakers to pass the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE) bill. The fiscal measure slipped past the House of Representatives last year, but has been wading through rough waters in the Senate. If enacted into law, the CREATE bill will cut corporate tax rate to 25 percent, from 30 percent, the highest among Southeast Asian economies. However, industry groups have been blocking the legislation of the bill for its second portion: it will lift incentives, particularly the 5-percent tax on gross income earned paid in lieu of all local and national taxes, granted to firms operating in economic zones. Industry groups, representing both domestic and foreign firms,
have warned that passage of the CREATE bill as is would force multinationals to shut down their operations here and relocate to another Southeast Asian competitor, leaving 700,000 workers jobless. “We are talking of the CREATE bill that should be passed to really lower the CIT rate and at the same time rationalize some of the incentives. Senators have made substantial changes to the measure and provided longer transition period for those currently enjoying the incentives,” Lopez said. Rodolfo, for his part, hopes the CREATE bill is submitted to President Duterte’s desk for signing before lawmakers head into recess in December. In spite of the challenges posed by the pandemic, the BOI is confident it will breach P1 trillion in investment pledges this year. According to Rodolfo, capital registered with the agency has now reached P826 billion from January to October. Last year, investments applied to the BOI hit an all-time high of P1.14 trillion after capital inflows from foreign firms jumped threefold to overcome uncertainties here and abroad.
COLD-CHAIN FIRMS CAN HOST COVID VACCINES By Jasper Emmanuel Y. Arcalas
T
@jearcalas
HE Cold Chain Association of the Philippines (CCAP) said the industry has more than enough capacity to store Covid-19 vaccines like AstraZeneca and Moderna, but has limited space for the Pfizer vaccine that must be stored at a temperature of -80°C. CCAP President Anthony S. Dizon said storing vials needed to vaccinate 60 million Filipinos or even 100 million, would require fewer than 1,000 pallets as against the group’s cumulative capacity of 500,000 pallets. The Philippines needs to vaccinate at least 60 million Filipinos to develop herd immunity against Covid-19. However, Dizon explained that this capacity is applicable to vaccines manufactured by AstraZeneca, which require a 2°C to 8°C storage temperature and Moderna’s that needs -20°C temperature. Based on the analysis made by CCAP, he pointed out that the industry has little capacity to store vaccines that require a temperature of -80°C, which is equivalent to the winter of Antarctica. The
vaccines being manufactured by Pfizer and BioNTech require this storage condition. Dizon explained that this problem is not unique to the Philippines but a global coldchain problem, as even developed countries like the United States do not have enough capacity to store at -80°C. “The question really is, what vaccine we are going to buy. Based on our analysis, even if we vaccinate 100 million Filipinos it will not affect the overall capacity of the cold -chain industry as long as we are talking about the vaccines of AstraZeneca and Moderna,” he told the BusinessMirror. Dizon said the industry also has the sufficient technical capacity and infrastructure to create “hubs and spokes” for the Covid-19 storage and distribution system in the country, given that its 80 members are present nationwide. Dizon said CCAP members are willing to convert their current cold storages, which caters mostly to food products, into vaccine store rooms. Vaccines and food products cannot be kept in the same storage, he added. Continued on A2
Pursuing 2nd-tranche pension hike in ’20 problematic–SSS By Samuel P. Medenilla
T
@sam_medenilla
HE Social Security System (SSS) on Wednesday warned that the implementation of the second tranche of the pension hike this year could harm the longterm sustainability of its funds. Citing the result of their initial study on the matter, SSS President and CEO Aurora C. Ignacio disclosed that implementing the P1,000 additional pension “will not be good for the SSS fund in the coming years.” She admitted that while the increase in salary credit last year helped boost the available funds of SSS, it is now being constrained by the effects of the Covid-19 pandemic. “It cannot be denied that many lost their jobs and are not able to pay [their premiums] with SSS so our contributions that we receive decreased,” Ignacio said during an interview with PTV on Wednesday. At the same time, she pointed
to a surge in the number of members who availed themselves of loans and unemployment benefits from SSS due to the pandemic. In fact, SSS will be launching on Friday their calamity loan package for members affected by typhoons Quinta (international name: Molave), Rolly (international name: Goni), and Ulysses (international name: Vamco). SSS pensioners who access the program may have in their pension for three months in advance. “We expect we will be paying more benefits than [the] amount of SSS contributions which [we] will get,” Ignacio explained. She issued the statement amid the appeal of lawmakers for SSS to finally implement the second tranche of the P2,000 pension hike, which was approved by President Duterte in 2017. The second tranche of the hike, which is worth P1,000, was supposed to take effect in 2019, but it was deferred to this year since SSS said it was still raising the needed funds for it.
Members of the Overseas Filipino Workers Veterans Association stage a protest in front of the Senate gate in Pasay City, urging senators to pass the creation of the Department of Overseas Filipino Workers. Senate Bill 1323, filed by Sen. Miguel Zubiri in February, proposes to create the department to serve as the “primary policy-making, planning, coordinating, implementing and administrative entity in the field of overseas labor and employment.” ROY DOMINGO
DFA cited anew as Freedom of Information champion By Recto Mercene
T MEMBERS OF THE DFA’S FOI RECEIVING OFFICE (Top) Foreign Affairs Assistant Secretary for Strategic Communications and Research Eduardo Martin R. Meñez. (2nd Level) Acting Head for Strategic Communications and Research Marie Yvette Banzon-Abalos, former Strategic Communications Division Acting Director Angeli Payumo. (Third Level) Principal Assistant Lee Gano, DFA-FOI Program Implementation Officer Alec Chrisanti Arenas, FOIPIO Alternate Liezl Angelique Diloy, and Strategic Communications Division Assistant Allea Marione Manapsal.
@rectomercene
HE Department of Foreign Affairs (DFA) had bagged the Freedom of Information (FOI) award, the second time in a row, despite the ongoing pandemic. In a virtual ceremony held on November 25, 2020, FOI-Project Management Office Assistant Secretary Program Director Michel Kristian R. Ablan conferred on the DFA the 2020 FOI Recognition Award in the National Government Agencies (NGAs) category. “The DFA is and will always be committed to providing Filipinos their right to access information on matters of public concern, particularly on foreign policy issues
and OFW-related and consular concerns. We thank the PCOO for recognizing once again the DFA’s efforts on the FOI front,” Foreign Affairs Acting Head for Strategic Communications and Research Marie Yvette Banzon-Abalos said. Last year, the DFA was recognized as one of the “Top Requested and Performing Agencies” in the eFOI Portal. This year’s FOI Awards recognized the efforts of government agencies, including governmentowned and -controlled corporations, state universities and colleges, and local water districts, to guarantee the right to information amid the Covid-19 pandemic. “This crisis made us realize that information plays a critical role
in effective governance and protecting public welfare. I strongly believe that initiatives involving transparency, good governance and integrity shall shape the future of our country, we as public servants must be bold and strive tenfold so that we may leave noteworthy legacy that will benefit the present and future generations,” PCOO Secretary Martín M. Andanar said in his opening remarks. The FOI Awards this year, with the theme “Committed, Responsive and Revolutionary,” rallies agencies to: “Commit”—that government institutions shall continue to uphold the people’s right to access information and initiate important discourses in bridging current policy and implementation
gaps; “Respond”—that government institutions shall pursue to make critical and informed decisions based on timely, credible, and verified information and take on an active role in addressing disinformation; and, “Revolutionize”— that government institutions shall seek and adopt innovative methods in building and reconstructing better systems and approaches which facilitate the effective disclosure of information all amidst the pandemic. The FOI program is being implemented under Executive Order (EO) No. 2 series of 2016, which operationalizes in the Executive branch the people’s right to information and to do full public disclosure and transparency in the public service.
www.businessmirror.com.ph
Companies BusinessMirror
Thursday, November 26, 2020
B1
Meralco power supply deal piques interest of 18 firms
T
By Lenie Lectura
@llectura
HE Manila Electric Co. (Meralco) has received a total of 18 Expressions of Interest (EOIs) to join the competitive auction for its 1,800megawatt (MW) power requirements in 2024 and 2025. Meralco utility economics head Lawrence Fernandez said the 18 EOIs were submitted by several power firms with offered capacity totaling 6,050MW, utilizing a variety of technologies. “ The Third Party Bids and Awards Committee [TPBAC] met last November 19 and the TWG [Technical Working Group] reported to them that 18 EOIs were submitted by the extended deadline of November 13. These represented an aggregate offered capacity of 6,050MW,” said Fernandez. Last month, Meralco said it received 9 EOIs with a total offered capacity of 3,600MW. “While most of the EOIs were submitted by existing participants in the Philippine power sector, the TPBAC also received submissions from companies that will be new
to the industry,” Fernandez said without identifying the firms that joined, citing non-disclosure agreements. Among the power firms that have verbally indicated their interest to participate in the CSP in the past are Atimonan One Energy, Inc. (A1E), a wholly-owned subsidiary of Meralco PowerGen Corp. (MGen); San Miguel Corp.’s power unit; Consunji-led Semirara Mining and Power Corp. (SMPC); Aboitiz Power Corp.; and possibly Ayala Corp. The winning bidders will secure a 20-year power supply agreement (PSA) with Meralco. The bidders are to submit their technical proposals on January 25, 2021. Only then will Meralco know what type of technology the bidders will utilize for their bids. “In terms of technology, the sub-
missions came from companies that have developed and/or operated a variety of fuel types, including coal, natural gas, and renewable energy. But we will only know for certain once the bidders submit their technical proposal next year. We would not want to speculate at this point on the potential offers of the interested bidders,” said Fernandez. The TPBAC is now preparing for the pre-bid conference on December 17. Meralco already sent invitations to the Department of Energy (DOE) and Energy Regulatory Commission (ERC) to nominate their observers to the pre-bid conference. The TPBAC will also be waiting for written questions from interested bidders, which may be addressed on the same day. “ERC has formally declined the invitation to send observers. This is similar to the past CSPs of Meralco. The ERC said that they cannot participate in the process as they will be reviewing the resulting PSAs that will be submitted to the commission. We are waiting for the DOE's list of observers,” added Fernandez. Meralco noted that this round of CSP has solicited more interest compared to the previous competitive auctions. “The current CSP gained much more interest compared to all our prior CSPs in 2019. In general, more participants would lead to a
more competitive bidding process,” he said. Last year, Meralco conducted three CSPs. These are the 1,200MW baseload capacity starting 2020, 500MW mid-merit starting 2020 and the 1,200-MW baseload starting 2024. In the latest bid invite, Meralco said it would need 1,200MW by December 2024 and 600MW by May 2025. A bidder can offer at least 150MW. If the total capacity offer goes beyond 1,800MW, the bidder that fills up the last stack shall have its offer reduced. The price offers must not go over than the pre-determined reserve price, which would only be revealed during the opening of the bids scheduled on January 25, 2021. Meralco prefers baseload plants or those that continuously run on a 24/7 basis. These power facilities should be in commercial operation not earlier than January 2020 but no later than May 2025. The scheduled outage allowance (OA) and forced OA of the plants that will offer to supply Meralco should not exceed 30 days and 15 days, respectively. After interested bidders have turned in their EOI, they are no longer allowed to reduce their offered capacity but may increase this until January 18, 2021.
PLDT, Asus to offer next gen WiFi By Lorenz S. Marasigan @lorenzmarasigan
T
ELECOMMUNICATIONS titan PLDT Inc. has partnered with Taiwanese multinational tech company Asus to offer its home broadband customers the new WiFi 6 technology, considered the next generation WiFi. Through the partnership, PLDT will now offer to its customers Asus’s routers ROG Rapture GT-AX11000 and the ASUS ZenWiFi XT8, which can deliver speeds of up to 1,000 Mbps. “We’re happy to have partnered
Phirst Park unveils Pampanga subdivision
P
HIRST Park Homes Inc., the horizontal development arm of Century Properties Group Inc. (CPG), on Wednesday said it launched its 10-hectare subdivision project in Magalang, Pampanga. The company said the unveiling was its second digital property launch for the year. The project has a total of 1,079 units valued at P1.9 billion. The Magalang project is Phirst Park's second subdivision in the northern part of Luzon after Pandi, Bulacan and the seventh masterplanned development to be launched in three years since the affordable housing brand was introduced in 2017. The first phase of the development will initially offer 556 house and lot units. “Phirst Park Homes is culminating the year with the very positive reception on the much-anticipated launch of our Pampanga project. Aside from Calabarzon, we are eyeing projects in the key growth areas of Central Luzon where there continues to be strong demand,” Phirst Park President Ricky M. Celis said. “We are on track with our development plans as more Filipinos recognize the value of home ownership as a primary essential and a way to provide a safe and secure place for their families.” Phirst Park is a joint venture of CPG and Japan’s Mitsubishi Corp. The project is in Barangay Santo Rosario and is accessible through the Magalang-Mabalacat Road. Phirst Park Homes Magalang is near three hospitals, six schools, three supermarkets and several dining establishments. VG Cabuag
with ASUS to equip our subscribers with a powerful WiFi 6 technology so they can enjoy the fastest and seamless online connectivity at home. This partnership is in line with our mission to empower Filipino families to rediscover meaningful experiences and further pursue their passions powered by the strongest Fibr connection at home,” PLDT SVP Menardo G. Jimenez said. Voted as one of the best gaming routers, the ROG Rapture GTAX11000 comes with a 1.8Ghz Quad Core, Tri-Band AX11000, AiMesh Technology, Beamforming + Traffic Analyzer/QoS, AiProtection Pro, Pa-
rental Control, IPTV Support, Link Aggregation, and WTFast Gaming Network. Meanwhile, the ZenWiFi XT8 features a 1.5Ghz Quad Core Tri-Band WIFI 6 (AX6600) Adaptive QoS, AiMesh Technology, AiProtection Pro, WP3 security, Supports Alexa & IFTTT. These two devices would allow PLDT Home subscribers to enjoy up to 4x WiFi speeds, while providing 50 percent more coverage and a 50-device connection capacity. “We are committed to providing our customers with the most innovative and award-winning
technologies that can give them better digital experience at home. We are glad to have partnered with PLDT Home in making this possible and in reaching more Filipinos to unleash the full power of their fiber connections so that they can work, study, and play seamlessly at home,” Asus Open Platform Group Business Development Manager Jeff Tang said. PLDT said it is putting a huge emphasis on its home broadband business, as demand for home connectivity has increased dramatically over the last few months due to the pandemic.
SEC recognized as FOI champion
BUSINESSMIRROR FILE PHOTO
By VG Cabuag @villygc
T
HE Securities and Exchange C o m m i s s i o n (S E C ) o n Wednesday said it remained among the top performing agencies in the implementation of the Freedom of Information (FOI) program of the Executive branch. The SEC said it was given the recognition for its promotion and implementation of projects that forwarded open access to information. The agency was again recognized by the Presidential Communications Operations Office, led by its Freedom of Information-Project Management Office, during the FOI Awards, which seeks to recognize outstanding work from national government agencies, government-owned and -controlled corporations, state universities and colleges, as well as nongovernment organizations in promoting the public’s right to know.
The SEC was first recognized by the body last year. “As the overseer of the corporate sector and capital market, and champion of investor protection, the Commission has advocated for transparency and accountability within and beyond its offices,” SEC Chairman Emilio B. Aquino said. “Going forward, the commission will continue ensuring the effective exercise of the people's right to information by promptly and diligently responding to requests under the FOI Program." Since the launch of the FOI Program in the third quarter of 2017, the SEC has processed a total of 8,726 requests from the public, including 3,080 from January to October alone. This comes amid the pandemic, which has prompted the agency to adopt a work-fromhome arrangement for most of its employees during the community quarantine.
OOCL, VICT set new benchmark for container exchange in Australia
San Miguel, Animal Kingdom rescue dogs
C
ONGLOMERATE San Miguel Corp. on Wednesday said it has partnered with Animal Kingdom Foundation to rescue and relocate domestic animals that were left by their owners in the future site of the company's P740-billion Bulacan international airport project. The company said it was able to rescue some 70 abandoned pets, mostly dogs, in Barangay Taliptip in Bulakan, Bulacan, the site of its airport project. Animal Kingdom is a nonprofit group dedicated to improving the welfare and living conditions of animals and eliminating the cruel trade of dog meat for human consumption in the country. Some 50 animals, consisting of dogs and cats, have been rescued. At least 20 more are set to be rescued from different sitios in the coming days. The rescued animals are brought to Animal Kingdom’s shelter in Capas, Tarlac, where they are given shelter and proper care. “While we’ve made sure that the former communities here have been relocated to newer, better homes in safer areas, we also can’t bear the plight of the animals that have been left behind. We’re very grateful to Animal Kingdom for all their efforts. With them, we’re assured that the dogs are rescued properly, treated humanely, and can be nursed back to full health,” San Miguel President and COO Ramon
S. Ang said. Most of the rescued animals reportedly suffer from skin conditions. They will be given veterinary treatment at the shelter, where they will stay until the groups can find a new home for them. “We mounted this effort with Animal Kingdom to ensure that the animals are safe from flooding, hunger, and are given medical care. Eventually, we hope they can also be part of new homes,” Ang said. San Miguel is also donating at least six month’s supply of its own Nutri Chunks brand of dog food for the Animal Kingdom shelter. Earlier this year, after the eruption of Taal Volcano, San Miguel partnered with the Philippine Animal Welfare Society on animal rescue and feeding operations. Its airport development project in Bulacan, touted as a “game-changer” for the Philippines, is the largest single investment in the country by far. The project is seen to spur economic activity, and generate much-needed job opportunities for Filipinos. Apart from helping former residents relocate and build new homes, SMC also partnered with the Technical Education and Skills Development Authority to enroll them in various skillstraining courses designed to prepare them for jobs at the airport or to start their own businesses.
The first batch of scholars from Taliptip graduated recently. The skills training program will also be made available to Bulacan residents willing to learn and be trained for jobs at the airport development. San Miguel has unveiled major rail and road network projects it will incorporate into its airport project in Bulacan to provide seamless travel around the country and help decongest EDSA. The company's airport development plan includes an 8-kilometer airport toll road that will connect the airport to the North Luzon Expressway and link it to the recently-completed 18-kilometer Skyway Stage 3 going to the South Luzon Expressway (SLEX). In a recent meeting with local governments in Bulacan, SMC also presented several proposed road expressway projects that include the NMIA Airport Expressway, Integrated Airport Toll Expressway Network-Northern Access Link, Integrated Airport Toll Expressway Network-Southern Access Link, Integrated Airport Toll Expressway Network- Central Access Link, East Metro Manila Expressway, Northeast Airport Expressway, Calamba-San Pedro Expressway, BulacanTarlac Expressway, Bataan-Bulacan Expressway, Skyway Stage 3-R10 NMIA Expressway, MRT 7 Road, and NMIA Expressway MRT 7 (Road Spur Access). VG Cabuag
THE OOCL Rotterdam during its recent call at VICT. CONTRIBUTED PHOTO
T
HE OOCL Rotterdam (capable of accommodating 8,063 TEUs, 323m LOA and 42.8m BEAM) on the North East Asia A3 Central Service has set a new record within the Port of Melbourne and Australia for the highest container exchange in one single call—a total of 6,516 containers equating to 11,037 TEUs. The vessel called at Australia’s first fully automated container terminal, Victoria International Container Terminal (VICT), last November 20 and completed the record exchange in 90 hours with 72.4 berth moves per hour. Tim Vancampen, VICT Chief Executive Officer, said: “VICT is honored to achieve another record at the Port of Melbourne in what has been a challenging year especially for Victoria dealing with the pandemic. The exchange highlights the need for larger vessels and increasing handling capacity." "At the same time, it poses new challenges for landside logistics that need to deal with these increasing peak volumes. In order to address those concerns, VICT offers a full 7 days 24-hour coverage for receipt and delivery. We would like to congratulate OOCL on the
milestone container exchange and thank them for having selected VICT as their terminal operator of choice.” Eddy Declercq, Managing Director of OOCL Australia, said: “We appreciate the high level of operational efficiency by VICT and cooperation by all stakeholders involved on all fronts at a time where every move counts towards our collective effort to address the container supply imbalance in the market and working together to keep trade moving.” Victoria International Container Terminal in Melbourne, Australia is a fully-automated container terminal capable of servicing the largest existing and next-class vessels on trade. Operational since 2017, it is a subsidiary of International Container Terminal Services Inc. (ICTSI). Headquartered and established in 1988 in Manila, Philippines, ICTSI is in the business of port development, management and operations. ICTSI’s portfolio of terminals and projects spans developed and emerging market economies in the Asia Pacific, the Americas, and Europe, the Middle East and Africa.
B2
Companies BusinessMirror
Thursday, November 26, 2020
PSE STOCK QUOTATIONS
November 25, 2020
Net Foreign Stocks Bid Ask Open High Low Close Volume Value Trade (Peso) Buy (Sell) FINANCIALS
ASIA UNITED BDO UNIBANK BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PB BANK PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FERRONOUX HLDG IREMIT MEDCO HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH VANTAGE
45.1 45.3 46.15 46.2 45.1 45.1 107.8 107.9 110 111 107.1 107.9 87.5 87.8 87.8 88.25 87 87.5 25.65 25.7 25.55 25.7 25.5 25.7 11.66 11.68 11.8 11.8 11.58 11.68 48 48.05 49 49.1 47.65 48.05 9.8 9.85 9.66 10 9.66 9.85 31.8 31.9 31.95 32.5 31.3 31.9 52.95 53.35 52.55 53.4 52.55 53.3 19 19.1 19.5 19.5 19 19 124.3 124.9 124 125 122.8 124.9 66.1 66.5 66 66.5 65.1 66.5 0.91 0.93 0.9 0.94 0.9 0.9 27.25 27.4 27.25 27.4 27.25 27.4 3.89 3.95 3.87 4.18 3.86 3.89 1.3 1.32 1.43 1.43 1.25 1.32 0.34 0.365 0.385 0.385 0.345 0.365 750 800 800 800 800 800 0.64 0.65 0.67 0.67 0.63 0.64 158.6 160 162 162 159 159 1.05 1.09 1.09 1.09 1.09 1.09
6,300 287,875 -9,090 8,123,240 881,463,383 229,863,055 5,943,510 521,638,002 96,680,282.50 142,800 3,662,035 -128,250 338,700 3,952,202 228,450 6,613,000 319,140,285 -126,303,660 117,700 1,161,613 1,171,900 37,429,495 3,541,760.00 3,880 206,317 78,000 1,486,706 37,940.00 1,272,090 158,114,318 10,968,923 21,010 1,388,280 -3,285 100,000 92,410 5,700 155,420 -13,700 287,000 1,125,280 39,000 551,000 722,570 59,310 2,500,000 903,750 25,550 20 16,000 268,000 172,420 19,500 1,240 198,307 -161,470 20,000 21,800 -
INDUSTRIAL AC ENERGY 6.01 6.02 6.34 6.49 5.85 6.01 76,755,300 479,980,457 -35,523,917 ALSONS CONS 1.41 1.43 1.48 1.48 1.41 1.42 4,124,000 5,910,020 50,080 ABOITIZ POWER 27.55 27.95 28.05 28.2 27.5 27.55 1,557,700 43,320,950 -15,589,330 0.27 0.275 0.295 0.315 0.26 0.27 213,820,000 60,502,000 733,800.00 BASIC ENERGY 28.5 28.95 29.05 29.15 28 28.95 395,800 11,452,070 1,217,220 FIRST GEN 66 66.2 65.6 66.5 65.6 66 89,790 5,932,283.50 -4,706,759.50 FIRST PHIL HLDG MERALCO 294.8 295.4 299.8 299.8 295 295 258,140 76,384,738 -36,817,686 MANILA WATER 15.66 15.7 15.5 15.8 15.5 15.7 1,587,300 24,719,724 244,478 PETRON 4 4.01 3.91 4.1 3.89 4 9,849,000 39,485,310 -356,220 3.64 3.7 3.59 3.7 3.59 3.64 197,000 717,520 PETROENERGY PHX PETROLEUM 12.58 12.76 12.7 12.8 12.58 12.58 19,900 252,324 82,430 PILIPINAS SHELL 19.6 19.68 18.76 19.76 18.7 19.6 3,653,000 70,427,760 -4,027,276 SPC POWER 10.56 10.64 10.52 10.7 10.52 10.56 312,000 3,305,154 -876,760 VIVANT 14 14.38 14 14 14 14 100 1,400 8.18 8.2 8.21 8.4 8.18 8.18 287,600 2,357,350 -1,149,884 AGRINURTURE 3.38 3.39 3.34 3.52 3.33 3.39 5,507,000 18,946,900 1,927,120 AXELUM 15.62 15.8 16.4 16.4 15.3 15.8 30,400 477,492 CNTRL AZUCARERA CENTURY FOOD 17.9 17.98 17.8 17.98 17.8 17.9 1,328,500 23,778,092 10,071,508 DEL MONTE 5.5 5.72 5.42 5.74 5.42 5.72 319,700 1,781,465 -426,971 7.14 7.16 7.05 7.2 7.05 7.15 2,598,900 18,564,655 9,004,813 DNL INDUS 10.02 10.06 10.06 10.08 10.02 10.06 1,105,600 11,116,102 2,207,442 EMPERADOR 67.95 68 68 68.3 66.2 67.95 679,410 46,001,373.50 -31,934,609 SMC FOODANDBEV ALLIANCE SELECT 0.68 0.69 0.71 0.71 0.67 0.69 540,000 367,410 13,800.00 FRUITAS HLDG 1.55 1.57 1.59 1.62 1.54 1.57 23,022,000 36,273,550 765,160 GINEBRA 52.6 53 52.8 53 52.2 53 24,630 1,300,867 190.9 191 191 194.6 191 191 566,790 109,087,810 -3,412,846 JOLLIBEE 46.05 50 50 50 50 50 70 3,500 LIBERTY FLOUR MAXS GROUP 7.4 7.5 7.59 7.6 7.3 7.5 725,100 5,367,808 1,453,270 MG HLDG 0.155 0.162 0.156 0.16 0.155 0.16 950,000 149,140 SHAKEYS PIZZA 8.27 8.28 8.5 8.5 8.2 8.28 493,700 4,101,405 -469,050 1.29 1.3 1.25 1.34 1.23 1.29 36,720,000 47,105,160 -3,250,410 ROXAS AND CO 1.82 1.92 1.75 1.97 1.75 1.83 386,000 741,670 ROXAS HLDG SWIFT FOODS 0.119 0.12 0.12 0.121 0.119 0.12 870,000 104,510 UNIV ROBINA 142.1 144 148.6 149.4 142.1 142.1 1,570,010 228,111,620 -82,106,294 VITARICH 0.9 0.91 0.92 0.93 0.89 0.9 9,271,000 8,420,970 -22,500 VICTORIAS 2.54 2.55 2.54 2.54 2.54 2.54 19,000 48,260 52.05 54.5 54.15 54.35 54.15 54.15 320 17,338 CONCRETE A CONCRETE B 53 54 53 55.1 53 55.1 110 5,851 CEMEX HLDG 1.71 1.72 1.74 1.76 1.7 1.71 24,558,000 42,328,140 -492,400 DAVINCI CAPITAL 5.4 5.6 5.25 5.7 5.11 5.6 3,431,500 17,890,590 22,400 EAGLE CEMENT 15.1 15.24 15.38 15.38 15.02 15.24 212,800 3,235,338 759,680 7.45 7.47 7.55 7.62 7.47 7.47 656,700 4,922,585 -1,803,731 EEI CORP 6.96 6.97 6.96 7.14 6.96 6.97 2,764,800 19,445,832 764,129 HOLCIM 9.75 9.76 9.82 9.91 9.5 9.75 6,558,700 63,601,618 -16,427,666 MEGAWIDE PHINMA 8.36 8.8 8.99 9 8.8 8.8 65,800 580,775 26,400 TKC METALS 0.84 0.86 0.85 0.87 0.84 0.84 206,000 175,860 1 1.02 1.1 1.1 1 1 11,219,000 11,494,210 61,500 VULCAN INDL 1.92 1.93 1.99 1.99 1.93 1.93 87,000 170,990 19,300 CROWN ASIA 2.63 2.65 2.71 2.85 2.53 2.65 2,992,000 7,900,090 -131,850 EUROMED MABUHAY VINYL 4.5 4.65 4.58 4.65 4.58 4.65 6,000 27,660 PRYCE CORP 4.95 4.96 4.7 5.35 4.53 4.95 586,000 2,899,430 -14,300 CONCEPCION 22.8 22.9 22 23 22 22.9 269,800 6,063,225 -319,975 2.68 2.69 2.65 2.7 2.6 2.69 8,272,000 22,003,200 -176,590 GREENERGY 7.25 7.28 7.39 7.39 7.2 7.28 828,000 6,027,682 13,780 INTEGRATED MICR 1.08 1.1 1.13 1.13 1.08 1.1 1,437,000 1,575,320 IONICS PANASONIC 5.26 5.39 5.2 5.43 5.2 5.26 21,200 111,426 SFA SEMICON 1.6 1.61 1.64 1.66 1.6 1.61 1,360,000 2,193,010 89,700 7 7.01 7.31 7.37 6.92 7 6,500,400 46,224,528 1,649,749 CIRTEK HLDG HOLDING & FRIMS ABACORE CAPITAL 0.66 0.67 0.58 0.66 0.58 0.66 59,597,000 37,624,150 -189,500 ASIABEST GROUP 9.17 9.55 9.59 9.59 9.15 9.55 30,100 277,924 110,900 AYALA CORP 836 842 828 847 828 842 272,140 227,722,830 1,626,880 45.25 45.5 46.95 47.25 45.05 45.25 1,934,300 87,999,860 -64,268,230 ABOITIZ EQUITY 9.65 9.7 9.66 9.9 9.65 9.7 5,032,300 48,898,283 2,979,816 ALLIANCE GLOBAL 3.08 3.09 3.18 3.2 3.08 3.08 4,970,000 15,539,830 2,722,710 AYALA LAND LOG ANSCOR 6.29 6.4 6.61 6.61 6.24 6.25 75,400 482,684 -135,125 ANGLO PHIL HLDG 0.7 0.71 0.72 0.73 0.7 0.71 829,000 597,700 -5,760 ATN HLDG A 0.94 0.95 0.93 0.95 0.92 0.95 5,120,000 4,800,610 0.93 0.97 0.93 0.97 0.93 0.97 353,000 332,340 175,640 ATN HLDG B 5.51 5.52 5.95 5.95 5.52 5.52 8,988,700 50,615,309 -19,167,980 COSCO CAPITAL DMCI HLDG 5.57 5.58 5.45 5.6 5.43 5.57 104,644,600 578,563,972 12,613,508 FILINVEST DEV 9.28 9.34 9.53 9.54 9.11 9.34 116,800 1,077,329 -631,198 FORUM PACIFIC 0.21 0.225 0.21 0.21 0.21 0.21 800,000 168,000 570 571 585 602 570 570 560,460 326,074,380 -110,883,660 GT CAPITAL 4.25 4.44 4.35 4.44 4.3 4.3 35,000 153,110 -13,200 HOUSE OF INV 70.65 70.7 73.25 73.25 70.05 70.65 1,392,530 98,864,161 -64,043,072 JG SUMMIT LODESTAR 0.82 0.84 0.84 0.85 0.81 0.83 438,000 361,790 -3,320 LOPEZ HLDG 3.15 3.17 3.01 3.19 3 3.15 6,282,000 19,347,050 -1,363,940.00 13.64 13.7 13.78 13.8 13.3 13.7 3,128,800 42,590,386 -11,383,046 LT GROUP 0.54 0.56 0.57 0.57 0.53 0.57 78,000 43,580 1,060 MABUHAY HLDG 1.74 1.89 1.88 1.89 1.88 1.89 13,000 24,460 -9,400 MJC INVESTMENTS METRO PAC INV 4.13 4.14 4.22 4.33 4.12 4.13 38,099,000 159,765,110 -25,209,020 PACIFICA HLDG 4.15 4.2 4.2 4.34 4.15 4.34 96,000 402,520 PRIME MEDIA 0.88 0.91 0.9 0.92 0.86 0.91 734,000 652,360 2.64 2.8 2.8 2.8 2.8 2.8 1,000 2,800 REPUBLIC GLASS SOLID GROUP 1.17 1.2 1.17 1.17 1.16 1.17 140,000 163,020 SYNERGY GRID 272 279 286 286 260 272 1,830 496,702 SM INVESTMENTS 1,021 1,022 1,030 1,030 1,017 1,021 250,405 255,734,665 -41,074,825 SAN MIGUEL CORP 126.9 127 130.3 130.3 126.8 127 531,350 67,592,947 -36,290,732 0.69 0.7 0.7 0.7 0.69 0.69 194,000 134,360 -2,070 SOC RESOURCES 1.83 2.28 1.9 1.9 1.89 1.89 84,000 158,940 SEAFRONT RES TOP FRONTIER 140 143 143 150 143 143 19,450 2,798,809 -514,730 WELLEX INDUS 0.225 0.229 0.229 0.229 0.227 0.229 470,000 107,370 ZEUS HLDG 0.17 0.175 0.165 0.17 0.161 0.17 2,810,000 459,590 PROPERTY ARTHALAND CORP 0.66 0.67 0.67 0.68 0.65 0.67 1,240,000 818,340 -84,860 ANCHOR LAND 8 8.2 8.2 8.2 8.2 8.2 100 820 AYALA LAND 37.75 37.85 39 39.5 37.75 37.75 11,123,200 425,570,175 -177,362,530 1.27 1.28 1.26 1.28 1.24 1.27 269,000 339,900 -25,400 ARANETA PROP 27.3 27.35 27.5 27.5 27.25 27.35 1,659,300 45,359,620 -16,670,240 AREIT RT 1.62 1.64 1.61 1.64 1.57 1.62 706,000 1,129,140 188,210 BELLE CORP A BROWN 0.88 0.89 0.92 0.92 0.88 0.88 2,738,000 2,433,320 -62,300 CITYLAND DEVT 0.82 0.84 0.84 0.84 0.81 0.83 33,000 27,490 CROWN EQUITIES 0.154 0.155 0.155 0.155 0.151 0.154 2,620,000 400,870 86,240 6.1 6.3 6.5 6.5 6.1 6.3 80,100 504,290 CEBU HLDG CEB LANDMASTERS 4.95 5.06 4.69 5.1 4.67 4.95 15,140,000 75,399,450 -43,276,620 CENTURY PROP 0.475 0.48 0.47 0.48 0.47 0.48 14,590,000 6,973,400 467,650 CYBER BAY 0.365 0.37 0.36 0.37 0.355 0.365 6,170,000 2,224,750 243,900 DOUBLEDRAGON 14.94 14.96 15.34 15.38 14.96 14.96 6,299,100 94,958,460 -48,774,518 5.89 5.99 6 6.2 5.88 5.99 574,900 3,445,340 -2,051,251 DM WENCESLAO 0.325 0.33 0.33 0.335 0.325 0.33 1,480,000 485,500 EMPIRE EAST EVER GOTESCO 0.084 0.088 0.086 0.089 0.084 0.085 5,860,000 498,410 42,500 FILINVEST LAND 1.09 1.1 1.11 1.13 1.09 1.1 32,666,000 36,275,890 5,784,040 GLOBAL ESTATE 0.9 0.91 0.93 0.94 0.87 0.9 8,299,000 7,398,010 18,600 9 9.09 9 9.14 9 9.09 27,900 251,951 8990 HLDG PHIL INFRADEV 1.68 1.69 1.75 1.75 1.67 1.68 6,756,000 11,439,280 34,500 0.76 0.78 0.8 0.8 0.74 0.76 628,000 480,940 16,280 CITY AND LAND MEGAWORLD 3.88 3.89 3.9 3.95 3.86 3.88 44,480,000 172,768,010 3,162,910 MRC ALLIED 0.55 0.56 0.59 0.61 0.55 0.56 360,306,000 207,659,590 4,283,400 PHIL ESTATES 0.4 0.42 0.405 0.42 0.4 0.42 300,000 121,550 1.35 1.37 1.42 1.45 1.35 1.35 1,695,000 2,358,650 -29,820 PRIMEX CORP 18 18.02 18.1 18.54 17.9 18 11,852,400 214,939,182 -6,448,686 ROBINSONS LAND 0.27 0.285 0.29 0.29 0.27 0.285 1,730,000 500,500 PHIL REALTY ROCKWELL 1.57 1.58 1.58 1.58 1.57 1.57 431,000 677,530 -348,540 SHANG PROP 2.73 2.74 2.75 2.75 2.73 2.73 621,000 1,706,620 239,360 2.12 2.14 2.14 2.23 2.12 2.14 969,000 2,092,200 17,120 STA LUCIA LAND 37.3 37.35 38.5 38.65 37.25 37.3 12,321,100 465,822,505 -50,556,230 SM PRIME HLDG 4.85 4.86 5.09 5.09 4.77 4.85 222,200 1,080,727 VISTAMALLS SUNTRUST HOME 1.72 1.73 1.59 1.73 1.59 1.72 15,188,000 25,373,450 1,282,740 VISTA LAND 4.66 4.67 4.76 4.8 4.65 4.67 5,099,000 24,009,760 412,180.00 SERVICES ABS CBN 12.2 12.22 11.8 12.4 11.8 12.2 1,827,500 22,103,984 GMA NETWORK 5.7 5.73 5.75 5.81 5.69 5.7 979,500 5,594,623 MANILA BULLETIN 0.435 0.45 0.465 0.475 0.45 0.45 1,350,000 622,250 11.2 12 11.2 12 10,100 119,760 MLA BRDCASTING 11.7 12 GLOBE TELECOM 2,000 2,004 2,018 2,018 1,998 2,000 77,890 156,044,000 -73,380,220 1,325 1,326 1,343 1,348 1,320 1,326 160,570 213,698,055 -81,656,265 PLDT APOLLO GLOBAL 0.052 0.053 0.052 0.055 0.052 0.053 84,900,000 4,521,780 CONVERGE 16.08 16.1 16.04 16.3 15.88 16.1 3,058,800 49,090,738 -1,692,736.00 DFNN INC 4.33 4.48 4.42 4.48 4.19 4.48 313,000 1,344,890 -44,960 6.26 6.27 6.2 6.48 6.13 6.26 46,919,600 294,651,901 2,576,516 DITO CME HLDG 1.39 1.45 1.4 1.4 1.4 1.4 2,000 2,800 IMPERIAL ISLAND INFO 0.117 0.118 0.121 0.122 0.112 0.118 8,140,000 951,760 57,500 JACKSTONES 1.84 1.9 2.07 2.1 1.84 1.84 1,098,000 2,146,280 10,400 NOW CORP 4.32 4.33 4.25 4.43 4.24 4.32 9,405,000 40,775,390 -459,460 0.295 0.3 0.295 0.305 0.29 0.295 11,670,000 3,473,250 -12,000 TRANSPACIFIC BR 3.08 3.09 3.15 3.19 3.09 3.09 1,367,000 4,265,770 481,020 PHILWEB 9.2 9.25 9.2 9.25 9.01 9.25 79,400 723,855 -2,775 2GO GROUP ASIAN TERMINALS 15.58 15.7 15.6 15.6 15.58 15.58 16,600 258,744 130,840 CHELSEA 5.42 5.43 5.31 5.5 5.23 5.43 6,088,800 32,749,698 900,490 50.45 50.5 51.5 52 50.5 50.5 775,970 39,344,538 -9,813,659.50 CEBU AIR 121.6 121.8 127.4 127.5 121.8 121.8 1,786,780 220,880,380 1,855,547 INTL CONTAINER 15.5 15.76 15.76 15.98 15.76 15.76 778,300 12,266,378 LBC EXPRESS LORENZO SHIPPNG 1 1.04 0.99 1.04 0.99 1.04 597,000 599,240 MACROASIA 8.13 8.23 8.98 8.98 8 8.13 16,285,900 136,842,452 -57,330,489 METROALLIANCE A 2.21 2.22 2.15 2.25 2.11 2.21 1,871,000 4,036,340 7.35 7.43 7.69 7.71 7.35 7.35 91,700 690,485 22,215 PAL HLDG 1.68 1.69 1.56 1.8 1.56 1.68 22,355,000 37,611,440 568,110 HARBOR STAR 1.43 1.49 1.43 1.45 1.43 1.43 253,000 361,920 ACESITE HOTEL BOULEVARD HLDG 0.034 0.035 0.032 0.035 0.032 0.035 169,200,000 5,689,700 1,838,900 DISCOVERY WORLD 1.7 1.85 1.65 1.65 1.65 1.65 3,000 4,950 0.67 0.68 0.7 0.72 0.65 0.68 38,675,000 26,112,000 486,580 WATERFRONT 640 650 650 650 650 650 50 32,500 FAR EASTERN U STI HLDG 0.415 0.42 0.425 0.425 0.41 0.415 6,470,000 2,688,550 -430,800 BERJAYA 4.52 4.57 4.4 4.7 4.35 4.57 492,000 2,214,680 BLOOMBERRY 8.8 8.9 8.88 8.95 8.79 8.9 1,750,300 15,575,508 5,681,766 PACIFIC ONLINE 2.14 2.16 2.31 2.31 2.12 2.14 352,000 762,220 1.94 1.99 1.92 2.04 1.9 1.99 2,739,000 5,344,670 -97,900 LEISURE AND RES 3.13 3.15 3.32 3.32 3.1 3.13 39,674,000 125,988,420 -147,230 PH RESORTS GRP PREMIUM LEISURE 0.425 0.43 0.435 0.44 0.42 0.425 11,190,000 4,817,300 258,700 ALLHOME 8.01 8.05 8.3 8.3 8 8.05 2,731,200 22,080,712 705,431 METRO RETAIL 1.62 1.63 1.7 1.7 1.63 1.63 9,714,000 16,058,330 -2,370,630 42.2 42.25 42.3 42.7 42.15 42.25 960,200 40,695,555 -20,633,570 PUREGOLD 67.2 68 68 70 67.15 68 515,250 35,077,213 18,715,890 ROBINSONS RTL 109.5 110 110 111 110 110 37,540 4,130,898 -213,990 PHIL SEVEN CORP SSI GROUP 1.79 1.81 1.85 1.88 1.78 1.81 12,323,000 22,435,410 20,960 WILCON DEPOT 17.4 17.5 16.98 17.6 16.98 17.5 5,310,500 92,707,182 67,342,320 0.385 0.39 0.4 0.405 0.38 0.385 5,760,000 2,255,700 406,700 APC GROUP 7.53 7.8 7.72 7.8 7.51 7.53 92,400 703,689 EASYCALL GOLDEN BRIA 413 420 430 430 420 420 2,500 1,052,250 IPM HLDG 3.9 4.35 4.35 4.35 4.35 4.35 3,000 13,050 PRMIERE HORIZON 0.72 0.73 0.79 0.8 0.71 0.72 120,621,000 90,515,920 -475,600 SBS PHIL CORP 5.3 5.4 4.95 5.3 4.85 5.3 142,000 725,540 MINING & OIL ATOK 9.02 9.29 9.39 9.4 9 9.29 185,600 1,687,642 APEX MINING 1.69 1.71 1.71 1.73 1.67 1.69 13,385,000 22,871,410 5,880 0.0009 0.001 0.0009 0.001 0.0009 0.0009 5,425,000,000 5,024,300 -10,000 ABRA MINING 5.5 5.52 5.38 5.55 5.38 5.5 770,000 4,218,788 -1,043,050 ATLAS MINING 3.02 3.16 3.02 3.16 3.02 3.16 9,000 27,320 BENGUET A COAL ASIA HLDG 0.275 0.28 0.255 0.29 0.255 0.275 4,060,000 1,112,800 CENTURY PEAK 2.47 2.49 2.49 2.49 2.48 2.49 242,000 602,300 24,800 DIZON MINES 8.38 8.5 8.51 8.51 8.31 8.5 14,400 121,608 2.1 2.15 2.05 2.49 2.01 2.1 48,966,000 106,860,750 6,274,220.00 FERRONICKEL 0.255 0.265 0.265 0.265 0.248 0.265 3,360,000 847,520 GEOGRACE LEPANTO A 0.141 0.142 0.143 0.144 0.141 0.142 28,000,000 3,981,650 LEPANTO B 0.143 0.145 0.141 0.145 0.141 0.143 1,840,000 263,100 -8,500.00 MANILA MINING A 0.0096 0.0098 0.0096 0.0096 0.0096 0.0096 68,000,000 652,800 0.01 0.011 0.01 0.01 0.01 0.01 15,000,000 150,000 MANILA MINING B MARCVENTURES 1.27 1.28 1.18 1.28 1.18 1.27 15,466,000 19,067,170 -235,010 2.83 2.84 2.63 2.9 2.62 2.83 2,638,000 7,262,770 -269,100 NIHAO NICKEL ASIA 4.69 4.7 4.42 4.76 4.42 4.7 20,760,000 96,140,910 17,342,570 OMICO CORP 0.38 0.385 0.425 0.425 0.385 0.385 5,820,000 2,331,100 57,750 0.7 0.73 0.67 0.72 0.67 0.72 5,170,000 3,643,860 67,000 ORNTL PENINSULA 4.79 4.82 4.75 4.9 4.75 4.79 2,129,000 10,252,060 753,110 PX MINING 12.64 12.68 12.54 12.76 12.5 12.64 3,304,800 41,709,494 850,618.00 SEMIRARA MINING UNITED PARAGON 0.0051 0.0053 0.0053 0.0053 0.0053 0.0053 2,000,000 10,600 ACE ENEXOR 8.89 8.9 7.8 9.4 7.3 8.9 4,939,200 41,094,638 292,320 ORNTL PETROL A 0.01 0.011 0.01 0.01 0.01 0.01 2,100,000 21,000 0.01 0.011 0.01 0.011 0.01 0.011 5,000,000 52,900 -20,000 ORNTL PETROL B 0.0084 0.0086 0.0087 0.0087 0.0083 0.0084 42,000,000 354,000 PHILODRILL PXP ENERGY 12.34 12.38 12 12.54 11.6 12.38 2,472,100 30,124,772 -870,240 PREFFERED HOUSE PREF A 100 101.2 100 100 100 100 370 37,000 AC PREF B1 512 513 512 513 512 513 550 281,650 ALCO PREF B 101 102 101 101 101 101 2,400 242,400 506 508 500.5 500.5 500.5 500.5 1,200 600,600 AC PREF B2R DD PREF 101.1 103.4 101 101.1 101 101.1 210 21,211 -20,200 1,029 1,030 1,029 1,029 1,029 1,029 10 10,290 GTCAP PREF B MWIDE PREF 100.8 101.6 101.5 101.5 100.8 101 97,390 9,836,325 PNX PREF 3A 99.5 100 100 100 100 100 91,590 9,159,000 PNX PREF 3B 101.4 105.5 105.3 105.5 105.3 105.5 3,520 371,320 990 998 998 998 990 990 2,120 2,111,930 PNX PREF 4 PCOR PREF 2B 1,014 1,039 1,040 1,040 1,040 1,040 20 20,800 SFI PREF 1.6 1.9 1.6 1.6 1.6 1.6 2,000 3,200 SMC PREF 2C 78.2 78.35 78.2 78.35 78.2 78.35 3,610 282,321.50 SMC PREF 2E 76.1 76.85 76.1 76.1 75.8 76.1 32,230 2,450,533 77.5 78.75 77.55 77.6 77.5 77.5 9,280 719,560 SMC PREF 2F SMC PREF 2G 75.8 76 76 76.1 75.9 76 34,280 2,603,582.50 SMC PREF 2H 76 76.95 76.05 76.95 75.8 76.95 63,550 4,836,211.50 SMC PREF 2J 76 76.3 76.4 76.4 76 76 2,300 174,892 PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 12 12.38 11.38 12 11.38 12 156,700 1,861,388 -207,000 GMA HLDG PDR 5.48 5.5 5.52 5.6 5.45 5.48 672,400 3,698,662 804,452.00 WARRANTS LR WARRANT 1.08 1.09 1.1 1.1 1.02 1.08 376,000 395,310 -21,400 SMALL & MEDIUM ENTERPRISES ALTUS PROP 14.1 14.14 13.36 14.2 13.02 14.1 1,882,900 26,032,424 637,314 ITALPINAS 3.15 3.16 3.05 3.4 3.04 3.15 26,309,000 84,497,130 843,790 KEPWEALTH 6.45 6.48 6.69 6.85 6.48 6.48 141,400 933,994 2.18 2.46 2.2 2.2 2.2 2.2 5,000 11,000 MAKATI FINANCE MERRYMART 5.8 5.81 6.38 6.7 5.8 5.8 105,627,100 663,224,461 -1,295,469 EXHANGE TRADE FUNDS FIRST METRO ETF 105.5 105.6 107 108.2 105.6 105.6 42,750 4,558,704 1,293,681
www.businessmirror.com.ph
LandBank releases ₧717-M cash aid to PUV operators
T
By Tyrone Jasper C. Piad
@TyronePiad
HE Land Bank of the Philippines (LandBank) has disbursed over P717.33 million in cash grants to more than 110,000 public utility vehicle (PUV) operators as a relief to the sector severely affected by the lockdown measures amid the pandemic. In a statement on Wednesday, the state-run bank said that each of the jeepney and bus operators received P6,500 under the Cash Subsidy to PUV Operators Program of the Department of Transportation (DOTr) and the Land Transportation Franchising and Regulatory Board (LTFRB).
Majority or around P716.83 million of the disbursement was credited to the existing Pantawid Pasada Program fuel cash card accounts of 110,000 public utility jeepney (PUJ) operators. The balance was given to the LandBank accounts of 78 public utility bus (PUB) operators. “LANDBANK, in partnership
with the DOTr and LTFRB, made it possible to quickly and safely distribute the cash subsidies to jeepney and bus operators who are challenged by the pandemic,” LandBank President and CEO Cecilia C. Borromeo said. She added that the bank will continue its efforts with the transportation department in disbursing the remaining cash aid to other beneficiaries as well. The cash aid was under the memorandum of agreement that LandBank inked with the DOTr and LTFRB in October. The parties agreed to distribute one-time cash assistance to a total of 178,244 PUV operators. Breaking down the composition beneficiaries, they include operators of 120,000 PUJs, 24,374 UV Express units, 21,998 PUBs, 10,188 Filcabs, 1,259 minibuses and 425 premium point-to-point buses. The funds for the program formed part of DOTr’s budget under the
Bayanihan to Recover As One Act. Last month, the state-run bank signed an agreement with DOTR, LTFRB and the Philippine National Railways to modernize the transportation systems and services modernization. The deal is composed of six initiatives. These are the North-South Commuter Railway Extension Appraisal Project, Resettlement Action Plan Entitlements Distribution Mechanism, Distribution of Cash Subsidy for Operators and Automatic Fare Collection System–Pilot Production Testing. In addition, the partnership also backs the Support Package for Environment-friendly and Efficiently-Driven PUV Program, and the Interim Rehabilitation Support to Cushion Unfavorably-affected Enterprises by Covid-19 for Better Urban Services Transport Lending Program.
‘Mindanao spot market to start in 2021’
T
HE Independent Electricity Market Operator of the Philippines (IEMOP) said Wednesday that there will be a delay in the start of operations of the Mindanao spot market. The WESM in the Mindanao Grid was launched in June 2017. IEMOP, operator of Wholesale Electricity Spot Market (WESM), was expecting the commercial operation to commence on December 26 this year. The WESM is the country’s trading floor of electricity. It is a centralized venue for buyers and sellers to trade electricity as a commodity, where prices are based on actual use (demand) and availability (supply). WESM started commercial operations in the Luzon grid in June 2006 and in December of 2010 in the Visayas grid. IEMOP officials said the software system must be improved before the WESM in Mindanao and the launch of the upgraded WESM design takes place. “There are enhancements which ERC [Energy Regulatory Commission] wants us to implement in the NMMS [New Market Management System] price determination methodology, particularly in the administered price conditions, price substitution mechanism pricing, secondary price cap and automatic pricing re-runs. These changes require additional development which could happen soon,” said Isidro Cacho Jr., IEMOP Chief Corporate Strategy and Communications Officer during a virtual press briefing. These enhancements need to be certified by an independent auditor, added IEMOP’s Chief Operating Officer and Acting Trading Head Robinson Descanzo. “All improvements must be reflected in the software before the commercial launch. But before this can happen, the software must be certified by an independent auditor who will declare that the system is compliant and ready to be used commercially,” Descanzo said. Both said that the target for launch of the upgraded WESM design and the new spot trading floor in Mindanao would be moved sometime mid-2021.
“We have extended further the target launch to next year. We will launch both at the same time next year, probably middle of next year,” they said. IEMOP is also conducting studies to develop detailed proposals for lower threshold implementation of the Retail Competition and Open Access (RCOA). For the 4th quarter of 2020, IEMOP said it targets to complete studies on the overall Central Registration Body (CRB) implementation framework, profiling of non-interval meters, and retail aggregation. The study comes after the ERC released a draft resolution prescribing the timeline for the implementation of retail competition and open access. Under the draft resolution, the contestability threshold will be reduced to 500 kilowatt (kW) on February 26, 2021. This will be followed by a reduction to 100 kW on January 26, 2022, which will also mark the start of retail aggregation. Finally, the draft ERC resolution provides for the implementation of RCOA at the household level on January 26, 2023. A 10 kW threshold, however, is provided in the draft ERC resolution for household-level implementation. In anticipation of the lowering of contestability threshold, IEMOP has submitted a proposal in 2018 which introduces changes to retail market processes that would enable the CRB to better handle the significant volume of retail transactions. Under IEMOP’s 2018 proposal, WESM registration of contestable customers will be optional for those that would opt to purchase part of their requirements directly from the spot market as Direct WESM Members. This set-up is also proposed in cases when the contestability threshold is reduced further given the significant volume of retail transaction. Currently, all contestable customers are required to register in the WESM, most of which are Indirect WESM Members. Meanwhile, IEMOP reported that the effective settlement spot price (ESSP) for October stood at P2,066.74 per MWh, with 12 percent of the total energy traded sourced from the market. Lenie Lectura
Motorists may install RFID tag until Jan. 11
M
OTORISTS have until January 11 to get their RFID stickers at the toll booths of all expressways in the country, the Department of Transportation (DOTr) said on Wednesday. Expressway operators may designate all their toll booths as RFID installation sites from December 1 until January 11. After that, they can only nominate a few booths for the installation of RFID stickers. After the January 11 deadline, should motorists without RFID stickers queue on dedicated RFID lanes, they will be subject to sanctions for obstruction of traffic flow. “The policy on cashless toll transactions is being pushed to help lessen the transmission of the virus through human contact,” Transportation Assistant Secretary Goddes Hope O. Libiran said. Toll Regulatory Board (TRB) Executive Director
Abraham P. Sales said toll operators are ready for the implementation of total cashless transactions on December 1. “We are 100 percent ready to implement cashless transactions. Our toll plazas have been readied for this, and almost 800 toll lanes are now good to go,” he said. Currently, about 3.2 million RFID stickers have been installed. In total, expressway operators have the capacity to install 30,000 stickers per day. “RFID is here to stay, and we will continue to install way beyond the deadlines,” Metro Pacific Tollways Corp. (MPTC) Chief Communications Officer Romulo S. Quimbo said. “We will accommodate everybody who uses the MPTC tollways.” For Manuel M. Bonoan, who heads all the expressways under San Miguel Corp., the most challenging part of the cashless shift is the efficiency of the system. Lorenz S. Marasigan
MUTUAL FUNDS
November 25, 2020
NAV ONE YEAR THREE YEAR FIVE YEAR Y-T-D PER SHARE RETURN* RETURN STOCK FUNDS ALFM GROWTH FUND, INC. -A 226.96 -10.11% -7.47% -1.83% -9.88% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.2924 -12.46% -6.65% 1.23% -6.48% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 3.1388 -16.89% -11.14% -3.54% -14.66% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.7939 -12.21% -7.86% N.A. -11.59% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.7452 -12.56% N.A. N.A. -12.26% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 4.9295 -7.55% -5.74% -1.76% -7.48% FIRST METRO SAVE AND LEARN PHILIPPINE INDEX FUND, INC. -A,4 0.7649 -10.68% -7.51% N.A. -10.39% MBG EQUITY INVESTMENT FUND, INC. -A 94.8 -13.39% N.A. N.A. -8.16% PAMI EQUITY INDEX FUND, INC. -A 46.692 -9.17% -5.29% -0.16% -8.95% PHILAM STRATEGIC GROWTH FUND, INC. -A 488.17 -8.75% -5.28% -0.87% -8.37% PHILEQUITY ALPHA ONE FUND, INC. -A,D,5 1.0632 N.A. N.A. N.A. 3.21% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.1595 -10.47% -5.67% -0.39% -9.9% PHILEQUITY FUND, INC. -A 34.4344 -9.5% -5.15% 0.22% -9.14% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A 0.9149 -10.25% N.A. N.A. -10.14% PHILEQUITY PSE INDEX FUND INC. -A 4.7738 -8.74% -4.81% 0.57% -8.61% PHILIPPINE STOCK INDEX FUND CORP. -A 798.47 -8.54% -4.7% 0.46% -8.43% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.7216 -17.4% -8.65% -3.6% -15.25% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 3.6134 -14.34% -6.92% -1.25% -14.15% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 0.9144 -8.8% -5.01% 0.36% -8.63% UNITED FUND, INC. -A 3.2999 -9.82% -4.38% 0.74% -9.67% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C 107.2887 -8.38% -4.41% 1.26% -8.26% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ATRAM ASIAPLUS EQUITY FUND, INC. -B $1.1639 18.69% 0.9% 5.18% 13.18% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.5979 19.83% 8.59% N.A. 15.9% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.6483 4.89% -3.43% -1.12% 5.47% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.2631 1.85% -2.19% 0.86% 3.76% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.6216 -0.17% -1.43% -0.81% -0.38% FIRST METRO SAVE AND LEARN F.O.C.C.U.S. DYNAMIC FUND, INC. -A,1 0.1983 -14.23% N.A. N.A. -13.22% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.9637 0.17% 0.13% 1.84% 0.11% PAMI HORIZON FUND, INC. -A 3.7771 -0.25% -0.7% 1.07% -0.32% PHILAM FUND, INC. -A 16.8954 -0.25% -0.78% 1.01% -0.38% SOLIDARITAS FUND, INC. -A 2.0883 -2.16% -1.95% 0.75% -1.59% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.5651 -7.54% -3.26% -0.2% -7.72% SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D 1.0196 0.62% N.A. N.A. 0.38% SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D 0.9478 -4.8% N.A. N.A. -4.88% SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D 0.9317 -6.15% N.A. N.A. -6.19% SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.8849 -9.16% -4.04% -0.99% -9.22% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03919 2.67% 2.02% 2.59% 2.7% PAMI ASIA BALANCED FUND, INC. -B $1.1227 12.57% 1.81% 4.57% 10.94% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $4.3368 13.48% 6.27% 6.62% 10.9% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A,3 $1.1958 7.41% 3.45% N.A. 5.94% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 369.88 3.8% 3.23% 2.75% 3.34% ATRAM CORPORATE BOND FUND, INC. -A 1.8981 -1.48% 0.08% -0.03% -0.21% COCOLIFE FIXED INCOME FUND, INC. -A 3.2095 3.23% 4.61% 4.88% 2.94% EKKLESIA MUTUAL FUND INC. -A 2.2917 3.64% 2.94% 2.39% 3.07% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.451 4.53% 3.42% 2.12% 3.9% PHILAM BOND FUND, INC. -A 4.626 6.68% 4.51% 3.05% 5.79% PHILAM MANAGED INCOME FUND, INC. -A,6 1.3163 5.39% 4.41% 2.55% 4.74% PHILEQUITY PESO BOND FUND, INC. -A 3.9812 6.01% 4.42% 2.87% 5.09% SOLDIVO BOND FUND, INC. -A 1.037 8.62% 3.96% 2.44% 7.54% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 3.1944 5% 4.75% 3.45% 3.86% SUN LIFE PROSPERITY GS FUND, INC. -A 1.7467 3.96% 4.03% 2.84% 2.68% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. -A $482.2 3.37% 2.69% 2.91% 2.95% ALFM EURO BOND FUND, INC. -A Є218.48 -0.48% 0.79% 1.14% -0.6% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.2669 5.25% 3.74% 2.95% 4.95% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0265 2.71% 1.96% 1.75% 2.71% -0.37% PAMI GLOBAL BOND FUND, INC -B $1.0913 0.31% 0.87% -0.21% PHILAM DOLLAR BOND FUND, INC. -A $2.5248 5.41% 3.96% 3.6% 5.05% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.0620883 3.02% 2.6% 2.28% 2.97% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $3.2166 1.74% 2.19% 2.61% 1.3% 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 1.85% N.A. N.A. 2.02% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.2943 2.67% 3% 2.62% 2.32% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.0515 1.55% 1.72% N.A. 1.27% FEEDER FUNDS PRIMARILY INVESTED IN PESO SECURITIES SUN LIFE PROSPERITY WORLD EQUITY INDEX FEEDER FUND, INC. -A,D,7 1.0755 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."
Envoys&Expats BusinessMirror
B3 Thursday, November 26, 2020
Countries continue to commit funding for calamity response
S
UPPORT from nations continues to stream after a series of super storms slammed the Philippines in recent weeks.
The European Union (EU) has pledged €1.05 million (about P60 million) in humanitarian-aid funding to deliver emergency-relief assistance for families affected by Supertyphoon Ulysses (international name: Vamco). “The EU is scaling up its humanitarian assistance in the Philippines, in response to the devastating typhoons which hit the country,” said Arlynn Aquino, who oversees the bloc’s humanitarian response in the Philippines. “The additional contribution will help...get much-needed aid to the most vulnerable people to help them go through this difficult time.” Ulysses hit the country while it was still struggling to cope with the devastating impact of equallypowerful Rolly (international name: Goni), which struck in early November. It has so far affected more than 3 million people, and forced more than 440,000 to flee their homes and seek shelter elsewhere, including in evacuation centers. The region’s funding, part of the EU’s Acute Large Emergency Response Tool, or ALERT, will support humanitarian-aid partners who are already on the ground responding to immediate needs of those who need them most. These include shelter, food, health care and access to clean water, safe sanitation and
good hygiene, as well as other vital assistance.
Australia’s assistance
FOR its part, Australia has committed an additional P28.52 million to support the Philippine government’s response to the devastation caused by Rolly, particularly in the Bicol Region. This commitment will contribute to the collective response from the humanitarian community in the Philippines. It will directly assist 23,345 affected persons—including 2,990 women and girls, especially pregnant and nursing mothers. With this assistance, the commonwealth will provide life-saving support to the most-affected communities and municipalities in the Bicol Region, which will help them provide food for their families and repair damaged homes. It will also aid emergency medical teams in providing reproductive and maternal health care and counselling services. “This support is even more critical following Supertyphoon Ulysses that caused further hardship for the people in...Bicol,” said Ambassador Steven J. Robinson AO. “Australia stands with the Philippines in this time of need.” “We have been coordinating with humanitarian partners in the Philippines to ensure our assistance is well-
THE Taipei Economic and Cultural Office, led by Representative Peiyung Hsu (right) hands a symbolic cheque to his counterpart in Manila, Vice Chairman Gilberto F. Lauengco TECO IN THE PHILIPPINES
informed, targeted and supports the [national government’s] response.” This additional commitment follows Australia’s immediate deployment of in-country prepositioned humanitarian supplies through the Philippine Red Cross and the United Nations Population Fund valued at about P6.48 million. Said assistance supported 1,000 vulnerable families and 1,400 women and girls—including pregnant and nursing mothers, as well as 400 newborn babies affected and displaced by Rolly.
Taiwan pitches in
THE government of the Republic of China (Taiwan)’s Representative Peiyung Hsu of the Taipei Economic and Cultural Office in the Philippines on November 20 donated $200,000 as humanitarian assistance for the survivors of the recent natural disasters.
Vice Chairman Gilberto F. Lauengco of the Manila Economic and Cultural Office accepted the donation on behalf of the national government. There, he also received P700,000 donated by the Taiwan Association Inc. in the Philippines. Lauengco extended his heartfelt appreciation for the financial grant, as he confirmed that whenever there is a need in the Philippines, its country-neighbor to the north is always there to offer a helping hand: “For that, the people of the Philippines are very grateful for Taiwan’s generosity and friendship.” The island-nation also expresses its “heartfelt condolences to the families who lost their beloved ones in the aforementioned tragic disasters, and extends a helping hand to the Philippines for its rehabilitation and recovery work.”
A friendship that’s tried and true By Ambassador Koji Haneda
T
HE time has come for me to make my final bow. When I was appointed to the Philippines as a “balikbayan” ambassador three years ago, I could not have asked for a better assignment. It is the perfect bookend to my 40 years of diplomatic service. I started my career as a junior diplomat in Manila in the early 80s, so what better way to culminate my life’s work on a high note than here in the country I consider my second home. Challenging, rewarding, and for the most part, enjoyable, is how I would describe my tenure. I have been well-accustomed to the Filipinos’ brand of kindness and hospitality from then until now, and I had never thought of bidding my farewell to my Filipino colleagues and friends in the middle of a pandemic, where social distancing has sadly become the norm. Eight months into this public health emergency, I have further ramped up Japan-Philippines partnership as we foray into these uncharted times. Our contribution to this country’s pandemic response does not only cover medical supplies and equipment, laboratory-surveillance sites, and clinical trial cooperation for the anti-flu drug Avigan. We also rolled out two massive budget-support loans to beef up the government’s pandemic war chest, bringing Japan’s total contribution to more than $1 billion. With the Philippines responding through collective action and with sure backing from Japan, I know there is no reason for this country not to make a strong rebound in the near term. In the run-up to that economic
HANEDA
recovery, there is an upward push for the Build, Build, Build program to advance as the lead growth engine. Amid the lockdown, our rehabilitation team’s continued service in replacing the Metro Rail Transit 3’s old rails now made possible the increase of its speed and running capacity. Construction works for the North-South Commuter Railway are also well underway, while the first of the 17 tunnel boring machines for the Metro Manila Subway will arrive early next year. I joined the hardworking Secretary Arthur P. Tugade last year to examine these machines, and both of us were elated at the thought of a successfully completed subway spurring more economic activities.
Security and peace
I HAVE also devoted my time to national-security issues throughout my tenure. Our cooperation with the Philippine Coast Guard has made waves with the patrol vessels and high-speed boats we provided. We moved our defense cooperation into high gear with the Beechcraft aircrafts we delivered to the Navy, as well as air surveillance radar systems and utility helicopter-spare parts to the Air Force. During my term, Japan has
officially participated in joint exercises with the Philippines, United States, and other countries to strengthen interoperability, such as in humanitarian assistance and disaster-relief missions. One important landmark I was able to witness was the historic ratification of the Bangsamoro Organic Law and establishment of the Bangsamoro Transition Authority. Japan has fortified its assistance in the normalization process, capacity development of BTA, and related socioeconomic infrastructure. Attending the ceremonial decommissioning of the Moro Islamic Liberation Forces’ combatants with President Duterte in Cotabato was a momentous occasion not to be forgotten. I will also always remember my time as the first foreign envoy to step foot in the wake of a war-torn Marawi City. We have boosted our efforts to help people experience the dividends of peace, and this commitment to expand our assistance stays on in accordance with the progress of the peace process. Japan has been the largest donor to the Bangsamoro region, extending a total of P26 billion since 2002. I hope our ongoing cooperation would be instrumental in securing lasting peace in the region. Last year, I was deeply honored to receive the Peace Process Champions Award from the Philippine government in recognition of Japan’s contributions to the peace and development of Mindanao.
People exchanges
BUT beyond the recognition, it is the ties shared by our peoples that I will miss the most. Our exchanges in tourism, culture,
education, training and employment have skyrocketed in the last few years, and these transcended even in sports. Japanese-Filipino achievers in golf, judo, karate, and sumo wrestling are gathering momentum in their fields. Rookie golfer Yuka Saso earned her second victory at the 2020 Women’s Professional Golf Association of Japan Tour, following her win at the 2018 Asian Games. The rise to the international stage by Japan-trained gymnast champ Carlos Yulo testifies to the richness of our mutually beneficial relations. I will continue to be on the lookout for his success as he vies for the coveted gold, and I hope the day will soon come when Filipinos can also join me in Japan to cheer for him and other Filipino athletes at the Tokyo Olympics in the summer of 2021. From Day 1, I was looking to build an excellent bilateral partnership, but I found so much more. Our two countries complement each other in such a way that one’s strength also becomes strength to the other. I have since been a witness to this kind of synergy, and what sets it apart is the enduring friendship between our peoples. Filipinos’ friendship is a gift that keeps on giving. Everywhere I go, this genuine appreciation for Japan is written all over the people’s faces. All of these, plus my fondness for adobo, sisig, and the world-famous Philippine mangoes, I will bring with me back to Japan. I will leave this country with much gratefulness in my heart, knowing that Japan has found a true friend in the Philippines. Maraming, maraming salamat, kaibigan!
www.businessmirror.com.ph
No better time than now to step up climate action By British Ambassador Daniel Pruce and COP26 Regional Ambassador Ken O’Flaherty
T
HE Philippines has once again suffered the brunt of climate-change impacts. Less than a week after the devastating Supertyphoon Rolly, Ulysses struck, leading to the declaration of a state of calamity for the entire island of Luzon. These extreme events in the Philippines derail economic gains and only exacerbate existing pressures brought about by the pandemic. Tomorrow, November 27, the United Kingdom will be hosting the first virtual Climate Change and Environment Dialogue with the Philippines led by Environment Secretary Roy A. Cimatu as chairperson of the Cabinet Cluster working on Climate Change. We will agree on a partnership to further strengthen our cooperation to tackle climate change. We will set-out climate and environment priorities—including for the 26th Conference of Parties (COP26), which the UK will host in partnership with Italy in November 2021, and reach agreement on energy transition and nature-based solutions. As we start the conversation, we want to recognize the growing momentum in the Philippines toward an inclusive, resilient and green recovery. In the energy sector, we welcome the announcement of the Department of Energy (DOE) to no longer accept proposals for new coal-power projects. Such effort provides a positive signal for businesses to shift their investments to renewable energy sources. We are delighted for Masbate City to join the Powering Past Coal Alliance, along with Negros Oriental and Ilocos Norte. It shows commitment to advance the transition from unabated coalpower generation to clean energy. We are optimistic that more and more local government units will follow suit. Next week, we look forward to the Philippines’s participation in the first meeting of the COP26 Energy Transition Council and the Asian Clean Power Dialogue. These platforms will facilitate genuine conversation with leaders in the international power sector to accelerate the global energy transition.
Working with agencies
WE are also delighted that the Department of Transportation is supporting the “Driving Change Together” Declaration. This signifies strong leadership to transform the transport sector and industry from conventional and polluting to cleaner, more economical and sustainable alternatives. The UK-Philippine cooperation on climate and environment continues to grow, covering a wide range of sectors including energy, green infrastructure, health, hydrometeorology, agricul-
PRUCE
O’FLAHERTY
ture and biodiversity supported by the Darwin Fund Initiative, Newton Agham Programme, and the UK’s multilateral funding to the Urban Climate Change Resilience Trust Fund. The UK’s Asean Low Carbon Energy Programme supports the development of the Sustainable Finance Roadmap and has already provided recommendations to the DOE on the administration, classification and certification of energy-service companies, as well as voluntary renewable energy-market development. Our study on Scenarios for Energy Transition confirmed the Bloomberg finding that coal power plant additions beyond 2023/24 are not expected to be economical in the Philippines. We are also enthusiastic to launch our green recovery project with the United Nations Development Programme and sign the Memorandum of Understanding with Energy Secretary Alfonso Cusi to develop the 2050 Calculator Pathway—a tool to plan the Philippines’s lowcarbon transition.
‘Green-collar’ jobs
DOMESTICALLY, the UK remains committed to doing our share. Prime Minister Boris Johnson recently announced the Ten Point Plan for a UK Green Industrial Revolution to allow the UK to forge ahead with eradicating its contribution to climate change by 2050. It also serves as a blueprint to support up to 250,000 “new” “green- collar” jobs. This comes as the UK prepares to host the Climate Ambition Summit, with the UN and France, and in partnership with Chile and Italy, on December 12—a pivotal moment for world leaders to share ambitious new commitments to tackle climate change. Countries in the region are beginning to rally behind the goal of reaching net zero emissions, including China, Japan and South Korea. We hope, too, that the Philippines will join the majority of countries around the world in announcing commitments to go above and beyond what was announced in 2015, when parties to the Paris Agreement committed to tackling the climate crisis. Five years later, there is much more to be done. Climate change is a shared global challenge; every country in the world needs to take action to secure the future of the planet for our children, grandchildren and generations to come. It is our responsibility to stop this. There is no time to waste.
South Korea sends PPEs in symbolic sea exchange
FILIPINO and Korean midshipmen help load PPEs aboard BRP Conrado Yap
O
N November 17, the Republic of Korea Navy Cruise Training Task Group (CTTG) delivered personal protective equipment (PPE) to BRP Conrado Yap in the waters near Manila. The items included 10,000 Korean-made KF-94 masks and 2,000 hand sanitizers. On the boxes decorated with Korean and Filipino flags read the message: “Not once have we forgotten your sacred sacrifices.” According to the Korean Cultural Center (KCC), the PPE delivery serves the purpose of expressing gratitude to the Philippines as a combatant nation in the 71st anniversary of Korean War, assisting the coronavirus disease 2019 (Covid-19)- prevention efforts of the Philippine Navy, while promoting friendship and enhancing the military exchange of the two countries. The KCC also noted that the participating vessel added much significance to the event, as it is named after Korean War hero Captain Conrado D. Yap of the Philippine Army. As commander of a special-force company of the 5th Battalion Combat Unit, Yap participated in the battle of Yuldong in April of 1951 in Northern Yeon
Chun, Gyeonggi-Do. His unit overcame the handicap of numerical inferiority and forestalled the attack of Chinese forces. From this battle, Yap sacrificed his life to save his wounded soldier. Paying tribute to the military merit of the Filipino captain, the Republic of Korea and the Philippines awarded him their respective noble medals: The Order of Military Merit Taeguk and Medal of Valor. Also, the Korean government named Yap as the “Korean War Hero of the Month” in April. Last year, the Philippine Navy renamed the former Korean vessel Chung Ju, a “Pohang-class patrol combat corvette,” as the PS/BRP Conrado Yap, which now plays an active part as a key battleship of the Philippine Navy. The commander of the CTTG, RDML Kim Gyungchul, further noted that “at the outbreak of the Korean War, the Philippines was the first country in Asia to deploy troops to help our country, and many bright young men sacrificed their lives to protect our freedom. We will forever remember the sacred sacrifices of the people of the Philippines.”
TheBroa
Business
B4 Thursday, November 26, 2020 • Editor: Dennis D. Estopace
Setting up oasis in pandemic desert: I
N
By Tyrone Jasper C. Piad
OMADIC Bedouin tribes have flourished because of oases, where exhausted travelers take refuge. After facing the wrath of a volcano and a deadly virus, the Filipino people could use an oasis these days, especially as cash flow is drying up. The Bangko Sentral ng Pilipinas (BSP) may have found one. With the economic recession, monetary authorities decided to provide some relief by putting a ceiling on interest rates for credit card transactions. It is among the recent initiatives of the BSP to rejuvenate an economic desert. The BSP recently capped the annual interest rate ceiling of all credit card transactions to 24 percent—which is lower than the average of 47 percent—effective November 3. The Central Bank said that the interest rates or finance charges on unpaid outstanding credit card balance should only be 2 percent or lower monthly. This policy reduces the borrowing costs of the clients by a significant amount. But this oasis seems to be not so welcoming. Industry experts are claiming that the credit card rate cap can adversely impact both the borrowers and financial institutions in the long run. They are worried that some borrowers may find it difficult to secure loan approvals as the banks are seen likely to tighten lending standards. Meanwhile, there are also concerns over its potential impact on the bottom-line figures of the banking industry. With all these factored in, a question is begging to be asked: Is capping the credit card rates a painful relief for the borrowers and banks?
Credit charges
IN an inter v iew w it h t he B us i n e s sM i r ror , Fit c h R at i n g s I nc . a nd S & P Glob a l R at i ng s I nc. bot h a g re ed t h at t he re c e nt B SP mo v e t o c ap t he c re d it c a rd c h a r ge s i s pro v id i n g re l ie f t o b or ro w e r s . S&P Analyst Nikita Anand said that the 24-percent ceiling is allowing credit card loans to be more affordable, which can potentially boost the demand for such borrowings. “For consumers whose incomes were impacted due to pandemic, lower rates will ease the debt-servicing burden,” Anand explained. The reduction in credit card rates can ease the cash flow burden of the borrowers who are rolling over their loans, said Willie Tanoto, Fitch Ratings’ director for Asia-Pacific banks. He said that the relief could bring the borrowers—suffering from temporary liquidity problems—back on track with their loan payments. “But for borrowers who have structural problems with their income and expenditure, the lower interest rates only buy them some time and will not help them stave off default, especially if the economy and job market remain weak,” Tanoto explained. In an earlier statement, BSP Governor Benjamin E. Diokno said that the interest rate cap is aimed at helping both the consumers and micro, small and medium enterprises amid the pandemic.
Ongoing crisis
WHILE the interest-rate ceiling is providing relief, the Credit
Card Association of the Philippines (CCAP) is worried that it can eventually reduce access to credit card loans. CCAP Director Alex B. Ilagan told the BusinessMirror that credit-card issuers may deny loans to “riskier lower income classes” as a result of the BSP’s decision. “It will also result in the restriction of credit to existing cardholders with riskier profiles in the form of credit limit reductions or freeze in line increases,” he added, hinting that banks are likely to be more protective of their borrowings portfolio and asset quality amid an ongoing economic crisis. With this potential scenario, Ilagan said that borrowers with constricted credit lines are likely to access financing from more expensive informal lenders and financial technology (fintech) firms. Tanoto shares this sentiment. “With lower returns, banks are likely to accept lower risks too, especially given the current challenging economic conditions,” the Fitch Ratings analyst said. “This could mean some of the riskier customers may face lower credit limits or have their applications rejected altogether.”
Not anticipated
THE BSP Financial Supervision Sector, meanwhile, said that controlling the credit card rates would not impact bank lending standards for credit card holders. “Banks have room to adjust credit card interest rates given the lower cost of funding; thus, we do not [expect] this to affect banks’ credit underwriting standards,” the BSP unit told the BusinessMirror in an email interview. The Central Bank said that the Philippines currently has a very low interest environment, which makes borrowing more affordable. The country’s overnight reverse repurchase facility is at 2.25 percent after the Monetary Board implemented a series of policy cuts—totaling 175 basis points— to inject liquidity into the weakening economy. Overnight deposit and overnight lending rates, meanwhile, stood at 1.75 percent and 2.75 percent, respectively. Adjusting the finance charges for all credit card transactions, BSP pointed out, is even supported by the banking sector. In September, the Bankers Association of Philippines said it was important to push for a credit card policy reform during a crisis to aid the borrowers. The Central Bank said that the financial institutions are for it because it will “help ease the financial burden of Filipino households, including businesses, which are severely affected by the Covid-19 pandemic.” In addition, the BSP sector said that it has deployed a package of relief measures aimed at encouraging banks to provide financial relief to the clients and incentivizing lending, especially to those vulnerable segments.
General approximation
THE industry group also flagged the impact of the credit card charge ceiling on the already-troubled bottom-line figures of the banks. In the first nine months, the Philippine banking system saw its
net earnings plunge by 26 percent to P126.78 billion from P171.16 billion year-on-year amid the increasing provisions for potential credit losses. “The 2-percent interest rate cap may further compress the interest margins of banks, which are already affected by high levels of credit card delinquency and depressed credit card usage volume,” CCAP’s Ilagan said. The BSP, on the other hand, disagrees. “The BSP also does not expect this move to significantly affect banks’ profitability,” the Central Bank said. “Following the series of calibrated policy rate cuts by the BSP, banks have been noted to align interest rates charged on credit card transactions by bringing this down during the first half of 2020,” the BSP unit said. “Thus, the caps do not constitute a major shift away from market rates since these generally approximate the average interest rates currently imposed by major players in the industry.” Citing previous data, BSP said that the banks are usually recording interest spread ranging from 3.1 percent to 4.2 percent, translating to an average of 3.5 percent. The same trend was maintained in the first semester, the Central Bank said, noting that net interest margin stood at 3.9 percent. This was close to the level booked a year ago at 3.5 percent, it added. Still, BSP stressed that the interest rate ceiling is subject to review every six months, promoting sustainable credit card lending in the country. “Banks/Credit card issuers are also expected to review their business strategies and streamline their operations to be able to continue serving their customers and market niche through affordable credit card pricing under new economy arrangements,” the BSP department said.
Reduction substantial
ANAND said that the consequence on banks’ net interest margin and profitability will be “manageable,” given that credit card receivables comprise only 4 percent of the total portfolio. “ Howe ve r, ret a i l- or ie nte d banks with a larger proportion of credit card exposures could see a meaningful impact,” she added. For 2020, Tanoto said that the credit card rate cap’s impact will be “relatively modest” because it only applies in the last two months of the year. The Fitch analyst, however, expressed worries on the full-year impact given that the reduction on interest rates was substantial. “Spread over a full year, however, we estimate that it can reduce banks’ net interest incomes by a few percentage points,” Tanoto explained. “The upside for banks is that some borrowers at the margin are less likely to default, which can help the banks’ asset quality and credit costs,” he added. Anand added that banks would also prefer lending to borrowers with a good repayment record to minimize the financial intermediaries’ exposure.
Access to loans
THE credit card penetration in the Philippines is considered very low, according to S&P. Anand said that people outside Manila and Cebu remain underserved and have only “little access to personal loans and credit cards.” A ccord i n g to pre l i m i n a r y BSP data, only 5.6 million Filipinos are credit card holders as of end-June.
“The number has exhibited some decline on account of availability of alternative digital payment methods in the market,” the Central Bank explained. In the first half, there were 2 million applications for credit cards, which was lower compared to 2.5 million last year for the same period, the BSP added. With lower costs for credit card transactions, the BSP Financial Supervision Sector is expecting credit card usage and demand to increase. This, as it anticipates the demand of households and firms to recover in the coming months as the economy fully reopens. “This is an opportune time to set a lower interest rate for credit cards,” BSP said. But lower borrowing costs are not enough. CCAP stressed that the demand for credit card ownership and borrowings hinges on the economic performance of the country. The Philippine economy has contracted in the last three quarters, booking an average of 10-percent drop year-to-date. The industry group’s leader said that the clients must be able to secure their revenue channels first, which is challenging during a pandemic. “ The traditional sources of income for consumers will have to be restored and banks will have to find better ways to mitigate credit risks and/or improve
aderLook
sMirror
www.businessmirror.com.ph • Thursday, November 26, 2020
B5
Is credit card rate cap a painful relief? big banks registered P456.61 billion in such loans; the remaining P126 million was extended by the thrift banks. The same trend was also observed in the last five years. ING Bank Manila said that the growth in credit card loans in the past five years may be attributed to convenience shopping. The bank assumes many shoppers nowadays would opt to use credit cards for convenience shopping or to take advantage of zero interest installment payments. But those faced with cash flow problems may opt to use the credit card as it was originally designed for, as a short-term consumer loan, according to ING Bank Manila. While the credit card penetration in the Philippines is low, the CCAP said that the number of credit card holders and their average spending have been increasing through the years, contributing to the growth. Ilagan credited the improvement in spending to the growing middle class in the Philippines. “ This healthy growth rate in the number of cardholders and average spending can also be attributed to the growing aff luence of the Filipino middle class as a result of the robust economic growth achieved by the country in the last decade,” Ilagan explained. As of end-June this year, the banking sector saw its credit card receivables inch up by around 4 percent to P412.71 billion from P396.35 billion year-on-year.
dreamstime
Slowdown, slump
operational efficiency in order to allow it to finance credit card spending despite more narrow margins,” Ilagan said. ING Bank Manila noted the economy is plagued with massive joblessness after the lockdown measures slashed productivity, stymied consumer confidence and brought growth engines to a halt. “Penetration for credit cards may take a hit due to the fact that our job market has been rocked by record high unemployment and incomes will have on average decreased,” ING Bank Manila said. “This may affect the ability of consumers to apply for credit lines given banks’ still-strict adherence to risk profiling.” Data from the Philippine Statistics Authority shows that the unemployment rate stood at 10 percent in July, which was higher than 5.4 percent last year. It is an improvement, however, from the record high of 17.7 percent in April.
dreamstime
Thrift banks
IN the past five years, credit card receivables have been growing steadily. The credit card loans portfolio stood at P456.74 billion in endDecember 2019, which was more than double the P222.31 billion recorded in December 2015. Nearly all the credit card loans were provided by the universal and commercial banks. In 2019, the
BANKS, credit issuers and other financial institutions have a reason to worry over the capacity of borrowers to pay off their loans given the current slump in the economy. Joyce Ong, analyst from financial institutions group at Moody’s Investor Service Inc., told the BusinessMirror that the slowdown in economic activities— coupled with high joblessness— is giving both the borrowers and banks great trouble. “We expect non-performing credit card loans and receivables to increase as rising unemployment and disruption to business activities reduce credit card borrowers’ debt servicing capacity,” Ong explained. While there is a likely increase in nonperforming loans (NPLs) in general, ING Bank of Manila said those coming from credit cards or consumer loans will be highlighted. “With incomes constrained, we would expect households to safeguard limited cash for big ticket items such as housing or transportation while other purchases such as smaller items or durables purchased via credit cards likely not covered for the meantime,” ING Bank of Manila added. But Ong said that the impact of bad loans from credit card transactions on the overall banking portfolio will be “limited” as these only comprise 4 percent of the industry’s loans. As of end-June, credit card receivables stood at P412.7 billion against the total loan portfolio of P10.82 trillion. Of these credit card receivables, P23.64 billion is tagged as NPLs, which is 8.87 percent of the total bad loans of the sectors and 5.73 percent of the credit card receivables. This is also higher by 25.74 percent than last year’s P18.8 billion in the same period.
Temper growth
ING Bank Manila said the banks can opt to extend terms of payment to temper outright growth of NPLs.
“However, much of this has been covered by the Bayanihan laws so banks may need to get more creative at retaining customers and at the same time ensuring their financial health to avoid non-performing loans,” ING Bank Manila said. Under the Bayanihan to Recover as One Act, borrowers are given a 60-day grace period to pay for their principal loan and interest with due dates until the end of the year. The CCAP, for its part, said that member banks have implemented different internal debt forbearance programs. These include reversal of fees and charges, providing lower interests and restructuring agreements. Ilagan said these “easy and flexible repayment schemes” are helping credit card holders to repay their debts.
Online, in-person
CREDIT card holders are advised to be vigilant amid the increasing number of scammers trying to trick the public into giving out personal information. Preliminary data show that credit card-related crimes remain a top concern,” the Central Bank said. The BSP are reminding the public of the various attempts to illicitly gather the personal, banking and credit card information of the clients. CCAP said these include credit card number, expiry date and verification code. BSP is urging the credit card holders to “exercise caution in undertaking financial transactions, whether online or in-person, to protect themselves from any form of unauthorized or fraudulent transaction.” CCAP’s Ilagan, meanwhile, said Filipinos should also be cautious when opening suspicious emails asking for their banking information. Many phishing emails are appearing to be legitimate now, he explained, reminding them not to be deceived. Should the clients receive one, Ilagan is advising them to call their banks first to verify if the email is authentic. In addition, credit card holders should regularly monitor their accounts and transactions via mobile banking apps or e-statements, he said. By doing so, Ilagan said that the clients could report suspicious transactions immediately. On the other hand, the Central Bank said that the banks and credit issuers are rolling out measures to strengthen cybersecurity. These include enhancing capabilities to detect and responding to cybersecurity threats and fraud. “Banks are also required under the existing BSP regulations to investigate reports on, and incidents of unauthorized and fraudulent transactions and to have in place a consumer assistance mechanism to be able to properly respond to consumer complaints,” BSP added.
Bottom line
AS innovation accelerates in the digital age, fintech has been gaining traction as an alternative source of credit. “ T he BSP has strategically opened the banking system to competition coming from new players, whether from banks or non-banks, including fintech firms,” the central bank said. The BSP said that “promoting healthy competition” in the sector is most beneficial for the consumers as market players will be encouraged to expand the menu of affordable financial products and ser vices, improve customer experience and
support the financial inclusion initiatives. With the emergence of fintech firms, BSP said that credit card issuers will find ways to be more creative in extending customercentric products and services. “Nonetheless, the BSP is also mindful of the attendant risks and unintended consequences posed by fintech innovations,” the Central Bank said. “The BSP is closely monitoring fintech activities and has adopted regulations to mitigate risks arising from these activities and uphold consumer protection standards.” S&P’s Anand said that low-cost operations can help the fintech players provide credit cards and small loans at cheaper rates than traditional banks. They can even corner the mass-affluent market given these firms provide “significantly superior and cheaper products and services,” she said. “Digital players also need to earn consumers’ trust, which traditional banks have locked in,” Anand added. For its part, FintechAlliance.ph said that fintech players offering alternative lending is not about competition. “The bottom line is really more providing an enabling environment for various players allowing Filipinos greater access to responsive and responsible finance,” Angelito M. Villanueva, the fintech group’s chairman, told the BusinessMirror. “It is about providing consumers a wide array of options for them to choose from while providing them with adequate financial education and digital literacy,” Villanueva added. According to Fintech Report Philippines 2020, there are around 200 fintech companies in the country, and 24 percent of them are providing lending services.
Minimum amount
WITH the country’s economy still suffering, is it still wise to keep a credit card line? CCAP said yes. Ilagan said that credit cards provide a standby line of loans that the Filipinos can use for emergencies. However, he emphasized that card holders should be responsible when using their line of credit, making sure that they are borrowing amounts they can pay eventually. “A credit card line of credit is not a source of free money, so all of their purchases should still be done prudently, and the minimum amount due every month should be paid on time to avoid penalties,” Ilagan explained. Earlier, the CC AP told the credit card holders to maintain a good credit standing even during a pandemic so they can ensure financing even after the ongoing economic and health crises, especially if they need additional funding sources as they return to their usual lives. Ilagan said that clients can do so by paying their bills on time. At the same time, it is best for them not to max out their credit limits as it can reduce credit score, he added. Still, the recovery of the economy is seen playing a key role in the capability of borrowers to keep a good credit standing. A revitalized revenue channel for both corporates and individuals can mean a giant leap away from the pandemic-induced crisis. It restores their capacity to settle their loans on time. But with the current economic situation, it appears that more steps are still needed to be taken before the Philippine leaves this desert called pandemic.
B6
Editor: Gerard S. Ramos
• Thursday, November 26, 2020
Parentlife BusinessMirror
www.businessmirror.com.ph
Does your child want to be an ‘online star’?
E
ven before the lockdown, children have been aware of the “influencers” who seem to have taken over the Internet. In fact, a survey done by Morning Consult in 2019 revealed that a whopping 86% of people between 13 to 38 years old dream of becoming one. There is a possibility that it is higher now given the additional exposure of kids online. But what does it take to raise the next YouTube or Instagram star? “Our kids are growing in a world where everyone is connected. A stranger can come from a different country and quickly like their photos or dance videos. Likewise, another can provide scathing remarks, or perhaps prey upon their innocence online. Amid all these possibilities, children direly need the guidance of parents. To think that our young ones can secure themselves online is alarming. It is like allowing them to commute on their own without enough training. It’s dangerous,” comments Stephan Neumeier, managing director for Asia-Pacific of global security brand Kaspersky (www.kaspersky.com). “There is nothing wrong if your kid’s dream is to become a blogger or an influencer. It is like the older generation wanting to become famous singers or movie stars. What’s important is to support and guide our children on this endeavor. Arm your kids with the right mindset about success and failure, train them on how to balance their studies and their online activities. Most of all, educate them about the right tools and habits that will keep their online experience safe at all times,” he adds. If you understand that your child would like to try on a role of a popular blogger, you need to prepare for it and help your child to do it as safely as possible. Here are some advice that might be useful: 1. Remember that social networks is a way
of communicating with a close circle of friends for your child. Do not turn private accounts into public ones. It is better to leave platforms where subscribers and trolls could bother the child. A private account should be closed to everyone except friends, relatives, teachers and other important people from real life. 2. Remind your child of his or her reputation. Explain that even if you put a lot of effort and time, the dream of becoming a blogger can still remain a dream. Moreover, everything that is posted on the Internet will remain on the Internet, and harsh remarks and radical assertions, for example, can lead to unpleasant explanations with a future boss, or problems with admission to a university. Therefore, explain to your child that, before yielding to his or her overly expressive vocabulary, he or she should think about other, more acceptable ways of expressing themselves. 3. Create an account for the public together with your child, but do not disclose any sensitive information—address, school number, phone, places you often visit, links to the pages of relatives. If the account really gains popularity, then any of this data can be used against your kid and your family. Teach your child what you need to keep track of what you are telling the whole world. 4. Tell your child about cyber-stalking. Cyber-stalking is online harassment that could potentially grow into real-world harassment. 5. Setup the security of all of your child’s social networking accounts, which have become a target of criminal organizations/individuals. To reduce opening up your child to risks, use anti-virus software, complex passwords that are different for all accounts, set two-factor authentication everywhere to receive one-time passwords sent to your phone number, and backup password recovery methods wherever possible. 6. Prepare your child for the troll invasion. Social media is replete with unpleasant personalities who have fun by mocking others. Explain to your child that whatever those people say shouldn’t be taken personally. Also remember that you definitely do not need to respond to unpleasant comments in your personal account. 7. Remind the child of the law. There are rather strict laws about behavior on the Internet in some countries. You and your child should first check if
the topic chosen for the blog is safe to talk about. Lastly, remember and remind your child: not everyone becomes an Instagram star; you need to put up with it and be prepared for it. Of course, if you decide to try to become a popular blogger,
the mood should be positive, otherwise nothing will work out. Remember, the possibility of failure should not be considered as a potential tragedy of your whole life, but as a chance to try something else.
5 kitchen tips for homeschooling moms Going back to school is different this year as many schools shift to distance learning due to the pandemic. In addition to other responsibilities, most parents now need to take on their kids’ schooling and ensure that they really understand their online lessons. If you’re already working from home, you may be thinking that you just don’t have enough time for your job, household chores, and helping your kids with school. Before you get overwhelmed, Solane (solane.com.ph), the leading supplier of LPG in the country, offers some kitchen tips to make your new arrangement at home easier. n Set a schedule. Preparing a meal, on top of everything else that needs to get done, can be time consuming. Make sure you have a daily schedule that includes the time you will allot for cooking, uninterrupted work, your kids’ school hours, as well as break time and mealtimes. Once you have your schedule, do your best to stick to it so you can
manage your time better. n Plan meals in advance. Save yourself from unnecessary stress by planning the meals you will cook for the family ahead of time. By doing this, you get to save some time by getting all the ingredients you need at the grocery in one trip. Just make sure to plan a variety of dishes that are easy to prepare, flavorful and nutritious. n Get the kids involved. If your kids aren’t too busy, you can ask them to help with some simple tasks in the kitchen, like rinsing the vegetables or mixing ingredients. This can also be an opportunity to teach them about kitchen safety when it comes to things like peeling and chopping vegetables to avoid accidents. A few minutes before your meal, ask your kids again to help by setting up the table. After eating, they can also help clear the table and put the dirty dishes in the sink. Not only will this help you, but this will also teach your kids responsibility and discipline.
n Do the chores immediately. Try to get the chores done right away. Small stressors, like unfinished kitchen chores, only add up and affect your overall well-being. If tasks are left undone, you may feel more stressed, especially while working or tutoring your kids. Start small. After eating, you can wash your kitchen tools and tableware, wipe the counters, and throw out the trash immediately. If you don’t feel up to it, don’t think of it as, “I need to clean the kitchen.” Instead, look at it this way: Do you want a clean kitchen? Then, get cleaning. n Invest in the right kitchen equipment. Invest in kitchen tools that can help you save time and cook faster, such as convection ovens, food processors, and instant pots. Also consider kitchen appliances that don’t need too much attention while cooking, like slow cookers. Just put your ingredients in them and they will take care of the cooking process. This will give you more time to focus on your work and kids’ lessons.
At-home pet grooming tips for fur parents For fur parents, the love and fondness they have for their pets go beyond their cute looks and distinct smell. That is why, aside from spoiling them with treats and teaching them new tricks, owners practice responsible pet parenting by keeping their furry friends safe and cared for. One of the ways they prioritize their pets’ welfare is by ensuring they are always wellgroomed. Although certain limitations are barring people from visiting pet-grooming salons, there are ways in which they can keep their pets looking sharp and smelling great, even just by themselves at home. Here are some tips dog owners can check out to help keep their furry friends well-groomed: n Determine their breed. It is important to understand the level of grooming pets would need to help them feel better. According to TopBreed ambassador Dr. Nielsen Donato, there are longhaired breeds that need more frequent grooming. There are also dogs with long ears that need more frequent ear cleaning compared to those with erect ears. To know more about details like these, pet owners can get in touch with a vet. TopBreed is a pet care brand from Universal Robina Corp.’s (URC) Robina Agri Partners. Aside from ShamPooch, TopBreed also offers dog and puppy meals. n Practice these dog bathing habits. Since
the Philippines is a tropical country, the heat can sometimes get really harsh. This can lead to dogs’ glands secreting too much oil, which causes them to feel icky and uncomfortable. To check up on this, one can stroke their dog’s fur and see if there is dust clinging onto it. If such is the case, bathing them once a week with warm water can do the trick. If your dog is of a bigger breed and is prone to heatstroke, bathe them with cooler water instead. The ideal time to bathe your dogs is during the morning at around 9 am to 10 am. Regular baths should last for about 15 minutes to 20 minutes. n Let pets get used to their owners grooming them. When fur parents start doing the grooming by their own, pets may somehow find it unusual. But similar to any method of pet training, owners can practice positive reinforcement on their furry friends before their regular grooming session. n Choose the right shampoo. There are multiple ways owners can keep their dog’s furs shiny and healthy. This can be achieved by keeping them stress-free, maintaining their good hygiene, giving them fish oil for essential fatty acids, and using a shampoo suitable for them. TopBreed’s ShamPooch has a mild citrus lavender scent that pets will surely love. Made from organic ingredients friendly for dogs, ShamPooch has Madre de Cacao and Neem Extracts,
TopBreed ambassador Dr. Nielsen Donato with his furry pals
which have antibacterial and antiparasitic properties, and Organic Glycerin that helps moisturize and nourish their skin. It also has Organic Keratin, which revives and protects the smoothness of the dog coat. n Let the experts handle it. While it can be exciting to unlock a new skill and learn how to groom a pet on their own, pet owners might find
some parts of the grooming routine daunting. When in doubt, it is best to entrust more complex tasks such as nail trimming and oral grooming to the experts to ensure safety. A pet’s physical well-being can affect their emotional stability. So, fur parents, ensure that your fur babies stay well-groomed and happy.
Editor: Anne Ruth Dela Cruz
Health&Fitness BusinessMirror
Thursday, November 26, 2020 B7
B4
FDA approves traditional Chinese medicine for Covid-19 treatment By Rory Visco Contributor
T
he Food and Drug Administration approved last August a traditional Chinese medicine (TCM) called Lianhua Qingwen, offering a ray of hope in battling the dreaded Covid-19 virus, at least for patients with mild or moderate symptoms. The FDA nod makes Lianhua Qingwen the first TCM to be registered as a traditionally used herbal product in the Philippines. Lianhua Qingwen, widely used in China as part of its standard Covid-19 treatments, was officially launched in the local market through the partnership between Yiling Pharmaceutical and its exclusive distributor in the Philippines, Philippine Archipelago International Trading Corp. Dr. Philip Tan-Gatue, Medical Director of Philippine Archipelago International Trading Corp. and faculty member of the UP College of Medicine, said TCM has been able to treat a lot of everyday problems. “There’s a saying from friends in China that if you get hit by a car, go to the emergency room
of a Western medicine hospital, but for muscle aches, cramps or sniffles, go to a Chinese doctor,” he said. What is Lianhua Qingwen? The Lianhua Qingwen capsule has been part of China’s standard therapy for Covid-19 patients with mild and moderate symptoms. The results of a prospective, ra ndom i zed , cont rol led , a nd multi-center clinical study on treating Covid-19 with Lianhua Qingwen capsules, which Chinese academicians Zhong Nanshan, Li Lanjuan, and Zhang Boli and other experts worked on together with over 20 hospitals, were published in Phytomedicine, the journal with a high impact factor in the field of international herbal medicine.
The study determined that in terms of clinical use, Lianhua Qingwen proved to be both safe and effective in treating Covid-19 in conjunction with conventional therapy as it could significantly relieve clinical symptoms of Covid-19 such as fever, debilitation, and cough, greatly improve pulmonary lesions, shorten the duration of symptoms, and increase the clinical recovery rate.
The challenge for TCM in the country Olivia Limpe-Aw, president of Philippine Archipelago International Trading Corp., said there were many challenges in bringing the drug to the country. Aside from the usual documentation procedures for registration was that
it happened during a pandemic. However, the biggest hurdle they had to overcome was that, aside from the product being the first of its kind, the orientation of the country is still very much geared towards Western medicine. “That’s why we got Dr. Philip Tan- Gatue, who understands both TCM and Western medicine so we can better explain it to a market that has practically zero knowledge about TCM,” LimpeAw noted. “It was a lot of hard work, patience and learnings to be able to comply, but it was also a great feeling to be able to achieve something that can help the country.”
Breaking the TCM stigma Part of the skepticism about
TCM, says Dr. Tan-Gatue, is that many do not know whom to believe because there are a lot of claims being made about TCM. “I think the stigma can be broken through adequate information as long as we see that it works and is properly documented.” TCM, says Dr. Tan-Gatue, is a complete medical system, has its own theories on health, pathology, diagnostics and treatment, with various modalities such as herbal medicine, acupuncture, manual manipulation, breathing exercises. Chinese herbal formulas are where herbs are seldom used alone. Mostly, they are combined to make a more potent formula and where every herb has a role. “That is the beauty of Chinese herbs and it has been extensively studied over the years on the molecular, pharmacologic and clinical level. TCM and Western medicine can complement each other. Knowing the mechanisms of ancient formulas enable us to adapt them for modern use and for new diseases. Lianhua Qingwen capsules were formulated from famous prescriptions from three different eras of Chinese history so the track record of success is there and was studied also on the molecular, pharmacologic and clinical levels where it showed potential in the treatment of mild to moderate symptoms of Covid 19.”
The future of TCM in the Philippines Dr. Tan-Gatue said that traditiona l Chinese medicine is thriving because it works, that it’s not set in its ways. In TCM, there’s always adaptation, evolution and new medicinal substances discovered from other countries. Perhaps another reason why it’s thriving, according to LimpeAw, is due to its price point, like for Lianhua Qingwen where the suggested retail price is at P288 per box and if the recommended dosage is seven days and around three to four boxes are needed, that’s practically less than P1,000 and it works. “It’s really affordable and it’s also one reason why TCM is thriving, aside from the fact they continuously innovate, trying to find new ingredients, come up with better and more effective medicines that people can afford.” Limpe-Aw, however, cautioned the public against buying Lianhua Qingwen from dubious sources. The drug will be available at South Star Drug, soon at Watsons and Mercury Drug, but only in branches with S3 license since the drug is still classified as a dangerous drug by the Philippine Drug Enforcement Agency and should be prescribed by a doctor with an S3 license.
Steam inhalation is no It’s going to be a virtual Christmas, says DOH Covid-19 cure, experts say By Claudeth Ciriaco-Mocon
By Roderick L. Abad Contributor
H
EALTH experts and medical societies have discouraged the public to turn to steam inhalation as a treatment for Covid-19 and other conditions as it may only aggravate the condition of a patient. “Steam inhalation loosens secretions, that’s why a Covid patient shouldn’t do it. It poses a great threat to everyone around the patient especially if he starts coughing in the middle of treatment,” pulmonologist and biochemist Dr. Earl Louis A. Sempio told reporters during Unilab Inc.’s (Unilab) “Alagang Unilab: HealthierPH Series” webinar dubbed “To steam or not to steam: A discussion on Steam Inhalation as a Health Remedy.” As the vaccine for Covid-19 has yet to be fully developed and proven effective, there have been reports on the use of tuob or suob, a local term for steam inhalation, as an alternative cure for the unprecedented health malady. This traditional medical practice is done by inhaling water vapor to relieve a clogged nose. To do so, the head is lowered between eight to 12 inches away from hot water poured in a pot, basin or any container. The vapor is then breathed in slowly and deeply via the nose for at least two to five minutes. “Steam inhalation is widely practiced, especially in homes, because of the relief that it gives a person who may be suffering from the common cold, nasal allergies, or sinus infections. These conditions bring nasal congestion that is very uncomfortable and makes it difficult for someone to breathe,” he said. Even if this treatment modality alleviates the symptoms of nasal congestion, Dr. Sempio pointed out that it is not a cure as the steam does not kill the virus that caused it. Unfortunately, he noted that people often associate relief with cure when they feel better, hence, they think they no longer need a doctor for remedy. This false sense of security on their condition, he cautioned, leads to a mistake that can potentially hurt them in the long run.
Anti-steam inhalation
DIFFERENT medical groups in the country have already made public their stance against steam inhalation for Covid-19 patients. “Scientific studies suggest that steam inhalation is indeed effective against symptoms of colds and that it increases nasal patency… However, tuob/suob cannot be recommended as a standard care treatment for Covid-19 until it is proven by controlled clinical studies,” the Philippine Institute of Traditional and Alternative Health Care (PITAHC) said it a statement. The Philippine College of Physicians, Philippine Society of Microbiology and Infectious Diseases, and the Philippine College of Chest Physicians have also issued a joint statement saying, “Steam inhalation does not kill the virus and may cause potential harm. We cannot in good conscience endorse its preventive or curative measure.” Apart from Covid-19, Dr. Sempio also advised that steam inhalation should not be used on those suffering from an infectious condition like Tuberculosis for it could generate infectious droplets. He suggested, though, that it is better to ask for a health professional’s opinion when addressing medical concerns, especially cough and cold.
Tips to prevent infection
CLICHE it may sound, but “prevention is always better than cure,” according to the pulmonologist and biochemist. Being hygienic is the primary way to not get the infection, Dr. Sempio cited. He emphasized that a viral infection usually comes from secretions or airborne particles. “If you are already sick, drink plenty of fluids, that’s No. 1. Second, you need to have rest, you have to have adequate sleep, adequate nutrition, and remove any form of abuse to the body,” he said. Since many Filipinos suffer from vitamin deficiency, he warned that this condition makes them susceptible to infection. This is why correcting malnutrition can be of big help in improving one’s immune system, he stressed.
C
hristmas is traditionally the time for gift hunting in malls or shopping centers. In spite of the Covid-19 threat, however, people still trooped to Divisoria and Baclaran over the weekend. This prompted the Department of Health (DOH) to remind the public of the issuance of Department Circular (DC) 2020-0355 or the Reiteration of the “Minimum Public Health Standards for Covid-19 Mitigation.” The circular aims to provide guidance on how to observe minimum public health standards during the holidays and to ensure the health and safety of everyone participating in celebrations and activities. The DOH noted that the holidays in the Philippines usually mean reunions with friends and relatives, hosting and attending large in-person gatherings, and even traveling.
Due to the Covid-19 pandemic this year, it is not advisable to conduct these activities as there is a much higher risk of contracting the virus under such situations.
Risk mitigation measures In preparation for the holiday season, the DOH has provided riskmitigation measures for the public to adhere to during the holiday season such as: 1. Limiting the number of people in social gatherings and activities; 2. Avoiding activities that may include traveling; 3. Opting for activities with only a short duration of contact; 4. Practicing BIDA (B-bawal walang mask, I-i-sanitize ang mga kamay, D-dumistansya ng isang metro, A-alamin ang totoong impormasyon). 5. Avoiding contact of hightouch surfaces; 6. Ensuring proper ventilation
in venues; and 7. Increasing physical and mental resilience. Health Undersecretary Maria Rosario Singh-Vergeire also reminded the public of the underlying risks of exposing oneself to overcrowded places. “Exploring congested areas, close-contact settings, and confined places are the three risk factors that pose a high risk of Covid-19 transmission,” Vergeire said The threat of the virus, she added, is even higher when these factors overlap. Examples of the three risk factors include “attending large family, social, or religious gatherings, in-person shopping in malls and bazaars, and indoor gatherings of a large group of people that involves singing, shouting and dancing.”
Virtual activities Vergeire urged the public to consider modifying their Christmas activities or resort to virtual activities to mitigate the spread
of the virus. To celebrate Christmas and New year, the DOH recommends exclusive get togethers of household members and virtual gatherings with those who do not reside in the same house as most infections are made through close contact and prolonged exposure. Vergeire said that even if a person is wearing both a face mask and face shield, the possibility of being infected is still high if a person frequents crowded places. “The risk is there and it’s very high,” she stressed. She acknowledged though that while the holiday spirit might be dampened by these restrictions, Vergeire emphasized that enjoying the remaining days of the year Covid-free would be the greatest blessing. “Reduce your risk of contracting Covid-19 during the holiday season by strictly complying with the minimum public health standards in all your activities,” she said.
Online tool developed to assess diabetes risk By Rizal Raoul Reyes
A
pharmaceutical company has developed an online-based tool called the Diabetes Risk Assessment aimed at assessing the Filipino’s risks of getting diabetes. Novo Nordisk Philippines came up with the easy-to-take survey to help Filipinos prevent the onset of diabetes by addressing risks that are modifiable and avoidable. The survey will also help Filipinos get the proper diagnosis and understand the type of diabetes they have, and ultimately get treatment and management tools that can enable everyone to defeat diabetes together. Dr. Cecilia Jimeno, an endocrinologist from the University of the Philippines Philippine General Hospital, said the survey, which was created in partnership with the Quezon City Lions Club,
was made specifically for Filipinos and to help them become aware of their diabetes risks. Generally, a chronic illness such as diabetes typically has no cure and can develop complications like heart disease, stroke, blindness, kidney failure, heart failure, loss of a limb, and reduced life expectancy. A proactive approach to dealing with diabetes is crucial as it will help identify which factors can be controlled and which ones are inevitable. Dr. Jeremy Jones Rosales, president of the Philippine Society of Endocrinology, Diabetes and Metabolism Inc, pointed out that Filipinos need to clearly understand that diabetes and obesity are closely related. “The cases of people who are overweight and prediabetic are going up right now,” he said during the press briefing.
“The overall approach is Apat Dapatproper diet, regular exercise, consistent intake of medicines and regular consultation with the doctor,” he added.
Benefits of knowing your risk
The Diabetes Risk Assessment Online Survey increases awareness, inspires action, and makes diabetes management better for Filipinos. Furthermore, it expects more patients to be more aware of the risks of Type 2 diabetes risk will enable them to act on it with the support of their doctors. For patients who are diagnosed earlier, they will be able to receive early treatment and optimize their diabetes control to delay complications. Novo Nordisk Philippines is committed to raise awareness and take action against this disease that affects so many Filipinos. The company’s purpose is to drive change
to defeat diabetes by providing access to affordable care and making insulin available at a lower cost. Continuous ef for ts are also made by finding new ways to overcome the disease and making donations to several foundations. Novo Nordisk has also partnered up with Quezon City Cubao Lions Club Inc., Philippine Diabetes Support, Philippine Association of Diabetes Educators (PADE), Philippine Center for Diabetes Education Foundation, Inc (PCDEF), Philippine Society of Endocrinology, Diabetes & Metabolism (PSEDM), Institute for Studies on Diabetes Foundation Inc. (ISDF), Diabetes Philippines Inc. (DP), American Association of Clinical Endocrinologists (AACE), and the Danish Embassy to ensure that the information about this campaign is well-distributed to their community of doctors and their patients.
Sports BusinessMirror
B8 Thursday, November 26, 2020
BOLTS STAY ALIVE By Josef Ramos
R
EYNEL HUGNATAN and Meralco refused to go home as they extended the series to a do-or-die Game 5 following a thrilling 83-80 win over Barangay Ginebra San Miguel on Wednesday in the Philippine Basketball Association Philippine Cup at the Angeles University Foundation gym in Pampanga. Down by one, Hugnatan scored the go-ahead long twopointer off a Chris Newsome pass with only 15 ticks left to help Meralco seize an 81-80 lead. Stanley Pringle then missed a layup with seven seconds remaining in the game. Ginebra had another opportunity to advance to
the Finals, but R aymond A lmazan blocked Pringle’s crucial basket and Cliff Hodge took the rebound before throwing a baseball pass to Newsome who scored on a fastbreak layup for the final score. LA Tenorio’s threw a desperate game-tying trey as the last buzzer sounded. Hugnatan was also in his elements and finished with 19 points on top of four rebounds and four assists, while Newsome scored 10 of his 16 points in the fourth quarter to add to his 11 rebounds, six steals and five assists as the Bolts tied the series, 2-2. “The play was on [Chris] Newsome, but he was covered so he passed it to me. I didn’t hesitate to take the shot. Thank
to God it went in,” said the 42-year-old Hugnatan. “That was a huge block by Raymund [Almazan]. He is really our inside defender, the guy we can count on to be our last line in defense around the basket,” Meralco coach Norman Black said. “He is not 100 percent yet, but he is getting better.” Cliff Hodge and Almazan posted 16 and 11 points, respectively. Meralco led 46-31 early in the third period, before former Bolts Jared Dillinger hit 10 of his 15 points, putting the Gin Kings up, 64-60, entering the last frame. But Newsome and Hugnatan didn’t give up as they kept within striking distance in the fourth period. Game 5 is set Friday at 6:30 p.m.
mirror_sports@yahoo.com.ph / Editor: Jun Lomibao
KIDS’ ATHLETICS ONLINE VINCENT JUICO @VJuico Instagram vpjp_j, vince.juico gmail.com
SPORTS WITHOUT BORDERS
’W
E want to motivate them, tell them to have fun, exercise as much as they can, with energy, and give them the techniques through our athletes so they do it well and do it right. It is a crucial program because many of our children are restricted outdoors. Amidst the limitation, it is vital to be committed to our journey for grassroots development.” These were the words of Philippine Athletics Track and Field Association President Dr. Philip Ella Juico during the recent launch of the Kids’ Athletics online in partnership with Milo. According to the World Health Organization’s (WHO) Global Recommendation on Physical Activity for Health, kids aged five and above should engage in physical activity for an accumulative 60 minutes every day to build their muscle strength, improve motor skills and promote bone development. Here in the Philippines, children aged five and above get only 30 minutes of exercise once a week which doesn’t help the country’s rising cases of child obesity. There are three age groups—10-under,
12-under and 15-under—in the program. The kids do eight exercises in a circuit training format performed by 2019 Southeast Asian Games gold medalists Kristina Knott, William Morrison and Nathalie Uy. The kids submit their videos every Friday. Judging will be based on how well the child was able to perform the exercises. The online competition starts on Monday and ends in February 2021. “This expanded partnership with PATAFA will further promote the importance of physical activity among school children,” said Lester Castillo, Assistant Vice President Nestlé Philippines-Milo. The collaborative effort between the PATAFA and Nestlé’s Milo is a classic example of national sports associations working with private corporations in the common pursuit of grassroots development. There’s a saying that children should be seen and not heard. Well, they won’t only be seen but they’ll be seen being active, working out and exercising to keep them fit, to keep them away from playing too much gadgets and video games.
GILAS TO FACE WELL-EXPERIENCED THAIS TWICE
T
MERALCO’S Aaron Black and Ginebra’s Jared Dillinger battle for the rebound as Black’s teammate Bong Quinto stands his ground.
HE men’s national basketball team will face an experienced Thailand side twice in the second window of the International Basketball Federation (FIBA) Asian qualifiers in Manama, Bahrain. And Samahang Basketbol ng Pilipinas (SBP) program director Tab Baldwin said Gilas
Pilipinas will need to step up against a cohesive all-professional team which they meet on Friday and on Monday. “I think they are going to be an interesting opponent for us. They are a veteran cohesive group of players because they play together in their league all year long, they have talent and a
lot of experience,” Baldwin told BusinessMirror via overseas call inside the bubble in Manama. Thai-American BALDWIN main man Tyler Lamb and American coach Chris Daleo won’t be around in both games. “I haven’t done the math but it looks like their center is a 23-year-old, and I believe everybody else in the roster is between 28 to 35-year-old,” said Baldwin, referring to center Chanatip Jakrawan. “They are an experienced team playing together throughout the year, throughout their leagues, and that’s a big advantage,” he added. Thailand will be relying on the core of the defending Thailand Basketball League champion Hitech Bangkok City team headed by Nakorn Jaisanuk, Nattakarn Muangboon, Wattana Suthisin, Chatpol Chuengyampin, Bandit Lakhan, Sukhdave Ghogar, Montien Wongsawangtham and Jakwaran. The other players for Thailand are Anucha
Langsui and Anasawee Klaewnarong. “As a coach, I am envious that I wish we had time together when we were in the bubble to develop our chemistry more. That’s what they will have, they will have chemistry so we have to respect that,” Baldwin said. Thailand settled for the silver medal behind the Philippines in the 30th Southeast Asian Games last year. Calvin Oftana, Kobe Paras, brothers Mike and Matt Nieto, Isaac Go, Justine Baltazar, Dave Ildefonso, Juan and Javi Gomez de Liaño, Will Navarro, Dwight Ramos, Kenmark Carino, Jaydee Tungcab, Rey Suerte and Allyn Bulanadi will be leading the charge for the Filipinos under coach Jong Uichico. The Thais, who will also be playing Indonesia on November 28 at the Khalifa Sports City, are holding a 0-1 record in Group A. Their games against the Filipinos are both set 9 p.m. (Manila time). Gilas beat Indonesia, 100-70, during the first window in Jakarta last February 23. South Korea, which is also bracketed in Group along with Thailand, Philippines and Indonesia, withdrew from the second window because of Covid-19 issues. Josef Ramos
Nietes turns down return fight in Cebu
F
ORMER world champion Donnie “Ahas” Nietes turned down an offer to fight fellow super flyweight Renz Rosia on December 18 in Cebu, saying “it’s not worth it.” “I am not going to gain anything from them. It’s just them who will gain from me and at the same time I don’t like to face a fellow Filipino in a tune-up fight. The offer is also not good,” the 38-year-old Nietes told BusinessMirror on Wednesday, adding he will be fighting in February in Dubai under his new promotions MTK Global. “It looks like they have a low regard for me. But I am okay with any tuneup fight as long as it is not against a fellow Filipino,” Nietes said. “After my February fight, they are also trying to arrange my long-time dream fight against Roman ‘Chocolatito’ Gonzalez—that’s why I signed the [MTK Global] offer.” The 32-year-old Rosia (16-9-1 win-lossdraw record with eight knockouts) is coming off a spectacular unanimous decision win over compatriot Aston Palicte, also a former world
title challenger, last December 21 at the Manila Arena. Nietes said he would just focus on honing his skills and condition for the February fight. He last fought was on December 31, 2018, winning the vacant World Boxing Organization (WBO) super flyweight belt against Kazuto Ioka in Macau making him a four-weight world division champion. But Nietes (42-1-5 record with 23 knockouts) vacated the WBO belt in favor of Palicte. Nietes regretted that decision after Palicte was badly beaten by the Japanese Ioka to win the WBO belt vacated by Nietes via a 10th-round technical knockout decision in Japan on June 19, 2019. Asked if his lack of fight for almost two years would affect his performance and stamina, Nietes said being away from the ring for two years didn’t affect his performance. “I don’t think so for as long as I am training and preparing very well,” he said. Josef Ramos
Nominations deadline extended
N
OMINATIONS for the fourth enshrinement of the Philippine Sports Hall of Fame (PSHOF) were extended up to January 31 next year, according to Philippine Sports Commission (PSC) chairman William Ramirez on Wednesday. “In light of the continuing pandemic, the selection committee have decided to extend the nominations to give equal opportunity for the public to submit their nominations, and for us to study them,” said Ramirez, chairman of the PSHOF 2020 Committee. Ramirez said the committee is looking at the possibility of holding the induction online as health and safety protocols still ban mass gatherings. With Ramirez in the committee are Games and Amusements Board Chairman Abraham Mitra, Philippine Olympic
Committee Secretary-General Atty. Edwin Gastanes, Integrated Cycling Federation of the Philippines Secretary-General Atty. Avelino Sumagui, University Athletic Association of the Philippines Executive Director Atty. Rene Saguisag Jr. and Philippine Olympians Association President Akiko Thomson Guevara. Republic Act No. 8757 or the Philippine Sports Hall of Fame Act enshrines Filipino athletes, coaches and trainers who have distinguished themselves in their respective fields in sports. Among the past inductees were boxing legend Gabriel “Flash” Elorde, Asia’s first chess grandmaster Eugene Torre, Asia’s fastest woman Lydia de Vega and bowling champions Rafael “Paeng” Nepomuceno and Olivia “Bong” Coo.
Tancontian bags bronze in Serbia
T
By Annie Abad
HE ordeal of traveling for a day and a half because of health protocols and competing without a coach turned out modestly worthy after all for Sydney Sy Tancontian who brought home a bronze medal from the World Sambo Championships in Serbia. Also worth noting for Tancontian’s solo campaign in Novi Sad was her bronze medalwinning performance where she beat Spain’s Evadne Huesca, 2-1, who is 10 years older at 30 in the seniors’ category. “It was most challenging. I competed without a coach because of limited funding brought about by the current global situation,” said Tancontian. “Because of the pandemic, my national sports association just decided to let me go and compete without a coach, she added.” Securing travel documents made up stage one of her primary concerns. Stage two was booking a guaranteed flight and stage three was enduring layovers with strict protocols—including wearing a mask all the time except when she ate during the flight. “First, it was the visa and also the flight. But I really had a hard time in swab testing. I had to wait until the next day to get the results,” she said. “They only gave me one flight—from Davao to Manila and then wait again until night time for the flight to Serbia.” She said that the swab tests got her worried not because of a positive result, but because of the hours of waiting to the result. Tancontian got to Novi Sad a day before the competition, barely enough time to rest her weary body. There, all participants were tasked to observe protocols in a bubble environment. “Our routine was hotel-to-venue-and-back. We were not allowed to roam the city. We had to wear face masks all throughout except when warming up and during a match,” Tancontian said. “Also, we had to present a negative RT-PCR test for accreditation as required by the organizer.” Tancontian lost to an opponent from Ukraine in her juniors’ match, but fought back with that bronze in the seniors division. “I’m very happy. Last year I didn’t win any so my goal in Serbia was to bring home a medal,” said Tancontian, who started as a judoka at University of Santo Tomas before practicing sambo, a wrestling-like combat sport of Russian origin. She bagged her first bronze medal in the World Juniors Championships in 2018 in Russia then clinched a gold medal in the Asian Championships in India in the same year.