BusinessMirror October 07, 2020

Ambulant vendors kept Sept prices low?

By Cai U. Ordinario

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January and September averaged 2.5 percent this year.

“Definitely [ambulant vendors play a role in keeping prices low and stable]. They can serve as effective conduits of food supply, particularly for poorer households,” University of Asia and the Pacific Dean Cid Terosa told the BusinessMirror.

Philippine Institute for Development Studies (PIDS) Senior Research Fellow Jose Ramon G. Albert told this newspaper that inflation has so far been low and stable.

Albert said the only difference now is that Filipinos are not buying as much food and non-food

@caiordinario

MBULANT vendors selling vegetables, fr uits and other commodities may have helped keep inflation low and stable in September, according to local analysts and economists.

On Tuesday, the Philippine Statistics Authority (PSA) disclosed that inflation slowed to 2.3 percent in September, the slowest since May when inflation was at 2.1 percent.

Inflation was at 2.4 percent in August and 0.9 percent in September 2019. Inflation between

TEacher-broadcaster Joy Salazar records informative video for distance learning at Pasig Science High School, for airing on several television channels as the country shifts to blended learning and uses television and radio programs for classes as the pandemic forces a ban on in-school encounters. NONOY LACZA

items as they used to before the pandemic.

He said customers including himself would now buy from ambulant vendors who roam villages and streets to sell their wares.

Some of these sellers would peddle goods that can be bought at lower prices than groceries.

“Informal sellers can help control [the possibility of] having huge spikes in prices of most food items,” Albert said. “Why would I buy oranges at P70 per piece—it went to P80 even at [name of grocery store]—if I can buy 3 for P100 with the maglalako [ambulant vendor]?,” Albert said.

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HOUSE OKS BUDGET ON 2ND READING AMID ROW

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Wednesday, October 7, 2020 Vol. 15 No. 363

P25.00 nationwide | 2 sections 16 pages |

By Jovee Marie N. dela Cruz

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@joveemarie

ITHOUT following its schedule and amid a speakership showdown, the House of Representatives on Tuesday approved on second reading the proposed 2021 P4.5trillion General Appropriations Act and immediately suspended the session until November 16.

See “Budget,” A2

LOCKDOWN EASING TOO LATE FOR 10% OF FIRMS—W.B. POLL

By Elijah Felice E. Rosales

With their school modules as guide, brothers Brix and Jed Callapatia, in Grade 9 and Grade 7 at CAA Annex in Las Piñas, share the small alley where they can receive internet signal to connect to their school. Many students, teachers, and parents said poor Internet connection hampered their participation in online classes in the new blended learning system. NONIE REYES

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Milder contraction for manufacturing in Aug

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HE country’s manufacturing output has improved to a single-digit contraction in August, according to the Philippine Statistics Authority (PSA).

Data from the Monthly Integrated Survey of Selected Industries (MISSI) showed the Volume of Production Index (VoPI) contracted 9.9 percent in August.

This is the first time the VoPI contraction returned to single digits this year. In the past four months, the VoPI had been posting contractions of 37.6 percent in April to 14.6 percent in July.

“The slower downtrend in the VoPI for the sector was influenced by the increases in the indices of two heavily weighted industry groups, namely, chemical products

[17.1 percent], and basic metals [3.9 percent],” PSA said.

However, the Value of Production Index (VaPI) has remained in double-digit contraction for the sixth consecutive month this year.

In August, the VaPI contracted 13.8 percent in 2020 from a contraction of 11.2 percent in 2019. The VaPI contracted 17.2 percent in July.

The VaPI’s deepest contractions this year were in April and May when it posted declines of 40.1 percent and 30.1 percent, respectively.

“Contributory to the slower decline of VaPI in August 2020 were seen in chemical products and basic metals with annual increases of 11.4 percent and 0.1 percent, respectively,” PSA said.

PSA data a lso showed the

PESO exchange rates n US 48.4280

manufacturing sector’s average capacity utilization rate further decreased to 65.3 percent in August.

Last year, the average capacity utilization rate was still at 84.3 percent.

National Statistician Claire Dennis S. Mapa told the BusinessMirror that the average capacity utilization rate for August was the lowest in 18 years or since August 2002 when it recorded a rate of 74.3 percent.

The average capacity utilization rate of the country started to slow in March when it reached 76.5 percent from 84.6 percent in February.

“Contributory to the decrease in the average capacity utilization rate for Total Manufacturing in August 2020 was the impact of the 15-day Modified Enhanced Community Quarantine [MECQ]

in the National Capital Region, Bulacan, Cavite, Laguna and Rizal that started on 04 August 2020,” PSA explained.

The industry that posted the lowest average capacity utilization rate for August was petroleum products at 0.1 percent; chemical products, 50.7 percent; basic metals, 58.3 percent; miscellaneous manufactures, 61 percent; and tobacco products, 61.7 percent.

Data showed seven of the 20 industry groups had at least 80percent average capacity utilization rate which was led by machinery except electrical at 87.9 percent followed by rubber and plastic products at 84.7 percent, and printing at 84.4 percent.

Cai U. Ordinario

@alyasjah

HE easing of quarantine measures in July failed to save thousands of shops from closure, as one in 10 firms ceased operations for good after suffering from demand, supply and financial shocks induced by Covid-19.

In a survey by the World Bank, 15 percent of firms nationwide reported they will no longer open for business as of July. Even as quarantine restrictions were loosened that month, 40 percent stated they remained closed either by government order or on voluntary basis.

The poll also captured how

the Covid-19 pandemic damaged the different industries, with arts and entertainment, tourism and food services posting the most number of permanent closures: 21 percent, 20 percent and 20 percent, respectively.

In terms of factors, about nine in 10 firms in July lamented their sales decreased at an average of 64 percent, adding up to their revenue loss in March of 65 percent. Most of those who took a beating in terms of earnings are located outside Metro Manila and are engaged in automotive repair, tourism and accommodation, food services and real estate.

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Trade Secretary Ramon Lopez and Nestlé Philippines Chairman and CEO Kais Marzouki are seen at the virtual MOU signing ceremony in support of the RAPID Growth Project, or Rural Agro-Enterprise Partnership for Inclusive Development and Growth, ramping up agricultural development in the country. Story on page B1 CONTRIBUTED PHOTO

n japan 0.4581 n UK 62.8692 n HK 6.2487 n CHINA 7.1062 n singapore 35.5984 n australia 34.7568 n EU 57.0627 n SAUDI arabia 12.9114

Source: BSP (October 6, 2020)

News

BusinessMirror

A2 Wednesday, October 7, 2020

www.businessmirror.com.ph

DOE can’t compel oil firms to unbundle price data–CA

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By Joel R. San Juan

@jrsanjuan1573

HE Court of Appeals has affirmed a lower court ruling that prevented the Department of Energy (DOE) from compelling oil companies to justify and break down their oil price adjustments.

In a 15 -page decision, the CAdenied the petition filed by the DOE seeking the reversal of the order issued by the Regional Trial Court of Taguig on July 29, 2019, which granted the petition filed by Pilipinas Shell Petroleum Corporation (PSPC) for the issuance of a writ of preliminary injunction to enjoin DOE’s implementation of its Circular DC-2019, otherwise known as the Revised Guidelines for the Monitoring of Prices in the Sale of Petroleum Products by the Downstream Oil Industry in the Philippines.

The PSPC argued that Sections 3, 4, 7, 8 and 9 of the assailed circular are invalid for being issued

beyond the powers of the DOE and in violation of the provisions and policy of Republic Act 8479, otherwise known as the Downstream Oil Industry Deregulation Act of 1998 (Deregulation Act).

These provisions, according to the PSPC, illegally require oil companies to notify the DOE not later than three o’clock in the afternoon of the day before the “ implementation day” for any price adjustment; limit the implementation of the price adjustment for liquid fuel beginning every Tuesday of the week and applicable for the next seven days (from Tuesday to the next Monday) and for LPG, beginning every first day of the month and applicable for

the whole month; and require oil companies to disclose the detailed computation with corresponding explanation and supporting documents of the causes or reasons of the movement of the individual unbund led pr ice adjustments which are considered as trade secrets.

The PSPC maintained that the assailed circular contravenes the policy of deregulation and that the DOE is only authorized to monitor, follow, but not restrict, the frequency, timing, and movement of oil prices.

It argued that if the pricing formulas, which are confidential in nature, were to be disclosed to the DOE, there would always be a risk of data compromise and breach to the grave and irreparable injury of PSPC. “Without prejudging the main case, the Court finds the grant of injunction to be in order and supported by substantial evidence,” the CA declared in a decision penned

by Associate Justice Florencio Mamauag Jr. The appellate court held that the PSPC has sufficiently shown its entitlement to a preliminary injunction considering that the circular contains a penalty clause in the event of non-compliance with its provisions.

“While it is true that the DOE has the power to monitor and follow the

LOCKDOWN EASING TOO LATE FOR 10% OF FIRMS—W.B. POLL Continued from A1

“Reduced sales are linked to a

movements of domestic oil prices, an oil industry player like PSPC has the right to be protected from the harsh imposition of penalties such as suspension of business permit or closure, imprisonment and/or fine,” the CA said.

The appellate court pointed out that the cost margins, pricing structure and marketing strategies of PSPC “are confidential in nature which, if revealed, can lead to the damage of the company’s business.”

“To reiterate, there is nothing in the Deregulation Act which requires the disclosure of trade secrets to the DOE and since the loss of trade secrets is unquantifiable, it is considered grave and irreparable injury which warrants the issuance of the injunctive writ,” the CA explained.

T he DOE i ssued C i rc u l a r DC2019- 05-0008 on May 28, 2019 and was supposed to take effect on July 13, 2019.

PSPC noted that since the Downstream Oil Industry Deregulation Act was passed, the government does not interfere with the pricing, exportation and importation of oil products.

It also requires the DOE to promote fair trade practices in the liquid fuel retailing business, including quality and quantity of petroleum products, and ensuring safety from fire, danger, health and environmental risks, among others.

Budget…

higher-than-average rate of temporary and permanent closure of firms in the tourism and accommodation, and food services sectors,” the World Bank said.

Based on the survey, 75 percent of firms said demand for their products and services plunged in July, and at least one in three estimated the decline to be more than 50 percent. The demand shock was attributed to the lack of public transport that prohibited consumers from traveling to commercial areas to buy their goods and avail services.

Further, 70 percent reported their production dwindled on a shortage in the availability of inputs and raw materials from local distributors and suppliers.

Manufacturers pointed the supply issue to the disrupted work in the quarantine, as 50 percent of distributors and 44 percent of suppliers had to either cease operations or minimize capacity. Firms also argued that the movement restrictions enforced by the government impeded the transfer of their inputs and raw materials.

Worse, 86 percent of firms disclosed their cash flow went down alongside demand and supply, and 59 percent complained access to financial services lessened as well.

As a consequence, one in every two firms admitted they cut the salaries of their workers just to get by. Also, nearly half of them said they laid off a number of their employees to cope with the financial impact, with educa-

Continued from A1

This, after Speaker Alan Peter Cayetano moved to terminate the plenary considerations on the national budget without finishing the scheduled budget deliberations of the remaining 31 government agencies.

“I will prove to Congress [Lord Allan] Velasco and his cohorts that I am not hostaging the budget.

Applying Section 55 of our rules, I move to terminate the period of debate of House Bill or the P4.5trillion 2021 General Appropriations Bill,” Cayetano said in his plenary speech. The motion was seconded by Bulacan Rep. Jonathan Sy-Alvarado.

Under the original budget deliberations schedule, the House is set to approve the budget on second reading on Friday (October 9) and on third and final reading on Wednesday next week (October 14).

After the budget’s approval, Cayetano also moved to immediately suspend the session until November 16—more than a week earlier than the October 16 congressional break.

However, Cayetano said a small committee has been created to continue the deliberations and accept lawmakers’ amendments to the 2021 budget even during the break.

The calendar of session showed that Congress is scheduled to go on break on October 16, or two days after the anticipated turnover of the speakership from Cayetano to Velasco.

Following their meeting with President Duterte, Velasco claimed that he will take over the post starting October 14.

However, Cayetano reiterated that the President repeatedly asked Velasco to compromise and let him stay as Speaker until December so as not to derail the passage of the national budget, saying, “the 2021 national budget is our single most effective tool to ensure that our country will not suffer more than it has already because of this pandemic.”

Without the session, the camp of Velasco will not be able to declare the Speaker’s post vacant. Earlier, supporters of Velasco said they

will declare Cayetano’s post vacant on October 14 and implement the term-sharing agreement between the two lawmakers.

“I sincerely apologize to the President that he has to hear that. And just like Congressman Velasco, I’m sorry to our people that we had to do this at this time. If he had only followed the agreement to effect the change in November, if he had only known how to count correctly, we wold not have a problem,” said Cayetano.

“To our people, while I’m Speaker of the House, I promise you that every able-bodied congressman and congresswoman will work harder and work smarter to give you a relevant and responsive budget that you can be proud of,” Cayetano told his peers, adding every lawmaker will be given a chance to work with their legislative allocation during the break.

President’s approval

VELASCO, however, has sought anew Duterte’s approval to run for the speakership against Cayetano on October 14.

In a statement following his meeting with the President Monday night, Velasco claimed that he secured the Chief Executive’s approval to push for the term-sharing agreement.

“Lord, it is your right time now.

I have already spoken. You have to insist [on] your right based on the term-sharing agreement,” said Velasco, quoting the President.

“On the issue of the Palace having the lack of power to choose the next House Speaker, Yes, we agree.

Because House members will be the one to vote, after all. This is in consonance with the time-honored principle that the executive department cannot meddle in the internal affairs of a coequal body,” he added.

With this, Velasco said they expect Cayetano to resign on October 14 and to abide by the termsharing agreement as forged by the President.

“In the same way that there is now the Super Majority Coalition in Congress because we abided with

tion, food service and construction industries posting the most job losses at over 60 percent.

“These shocks from the pandemic and containment measures have had significant implications for employment and the operating model of firms,” the World Bank said.

In adjusting to the new normal, majority of business owners turned to digital platforms to carry out sales, marketing and payment. However, 70 percent of them reported that below 2 percent of their employees worked from home, as the nature of their duties require them to be present in the workplace.

To manage the economic impact of the health crisis, the most sought forms of government assistance were: cash transfer, 46 percent; loans at subsidized rates, 36 percent; deferral or reduction of rent, mortgage or utilities, 22 percent; tax exemptions or reductions, 22 percent; and deferral of loan payments, 19 percent.

The World Bank survey gathered the insights of 74,031 firms across all regions between July 7 and July 14, a period when quarantine nationwide was leveled down, even in Metro Manila. By size, more than 91 percent of the respondents were micro, small and medium enterprises.

The World Bank collaborated with the Department of Finance and the National Economic and Development Authority in conducting the poll to understand how the pandemic affected private sector activity in the Philippines.

the wishes of the President during the speakership race 15 months ago,” he added.

“The Super Majority does not belong to Speaker Cayetano but allied with the President, of which PDP Laban is the largest bloc in the coalition; and anyone who would renege on the term-sharing agreement from any member of the coalition is actually defying the wishes of the President,” he added.

“Whatever accomplishments of the House of Representatives are the collective efforts of all the members of the Super Majority Coalition because we cooperated with the House leadership and we are likewise grateful to Speaker Cayetano for steering Congress during those times as the anointed one who first assumed as a Speaker based on the term sharing agreement,” he added.

Following the meeting with President Duterte, Mindoro Rep. Doy Leachon said the Velasco camp is now confident that it shall get the necessary votes, once the current Speaker steps aside.

“After all, while Congress is a separate and distinct body, my colleagues fully respect the President, the agreement that he brokered and know that his mandate will be carried out more seamlessly if his preferred choice is elected as House Speaker,” he added.

Removal

MEANWHILE, three more known Velasco supporters have been removed from their positions in the chamber.

A AMBIS-OWA Rep. Sharon Garin has been removed as chief of the House Committee on Economic Affairs and replaced by Aklan Rep. Teodorico Haresco.

Rep. Angelina Tan was removed as chairman of the House Committee on Health and replaced by Guimaras Rep. Lucilla Nava.

Also, Manila Rep. John Marvin Nieto was elected as new chairman of the House Committee on Youth and Sports, replacing Valenzuela Rep. Eric Martinez.

On Friday, the plenary also removed 1-Pacman Rep. Mikee Romero as a deputy speaker. Romero, a supporter of Velasco, is the current president of the Party-list Coalition, which has 54 members.

The Nation BusinessMirror

www.businessmirror.com.ph

Editor: Vittorio V. Vitug • Wednesday, October 7, 2020 A3

Guevarra: More PhilHealth execs likely to face charges

By Joel R. San Juan @jrsanjuan1573 & Cai U. Ordinario @caiordinario

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USTICE Secretary Menardo Guevarra shrugged off on Tuesday President Duterte’s statement calling Health Secretary Francisco T. Duque III an “innocent man” in connection with the ongoing investigation into Philippine Health Insurance Corp.’s (PhilHealth) financial woes.

Guevarra said he believes that the statement was not intended to clear Duque of any criminal, or administrative liability, over the alleged misuse of PhilHealth’s mul-

tibillion fund.

He noted that various government agencies belonging to the Task Force (TF) PhilHealth are still pursuing other areas of corruption

in the agency and would likely file additional cases against more personalities in the future.

“I view the President’s statement as an expression of trust, not of exoneration. If evidence should turn up against anyone, regardless of position, I believe that the President, who has prosecutorial blood running in his veins, will not impede the legal process from taking its due course,” Guevarra said.

While the TF PhilHealth has initially filed a complaint before the Office of the Ombudsman against nine former and incumbent PhilHealth officials last October 2, the task force intends to file additional complaints against other erring officials since they are still investigating other leads and still in process of gathering evidence.

Last Monday, the President said that he had been advised to let Duque

go since he has become a “burden” to his administration.

But the President, himself lawyer, said he is aware of what is needed to be able to file a case.

President Duterte said he has read the findings of the report and could not find enough ground to prosecute Duque, and even referred to him as an innocent man.

Aside from being the health secretary, Duque is also the PhilHealth’s chairman of the board.

“The DOJ will simply continue what it has been directed by the President to do; that is, to bring any and all lawbreakers at PhilHealth before the bar of justice,” Guevarra vowed.

Meanwhile, PhilHealth President and Chief Executive Officer Dante A. Gierran assured that complaints filed against agency former officials will not affect its operations.

In a news statement, Gierran welcomed the filing of a complaint by the National Bureau of Investigation (NBI) at the Office of the Ombudsman against nine former officials regarding issues surrounding the use of Interim Reimbursement Mechanism (IRM) funds.

Gierran said the filing of the complaint means that the matter of the IRM funds will now be properly heard and former PhilHealth officials will be given the proper forum to defend themselves.

“The matter will now be properly heard and looked into by the Ombudsman and that the concerned officers will now have the opportunity to be heard and defend themselves against allegations of fund misuse,” Gierran said. “[PhilHealth] appeals to everyone to let the said complaint take its due course without casting undue

conclusion and judgment to those involved,” he added.

In August 2019, the NBI filed criminal cases against 21 officials and employees of PhilHealth before the DOJ in connection with the fraudulent claims for payment of dialysis and other medical treatment of PhilHealth members and beneficiaries.

The respondents, according to the NBI, gave unwarranted benefits to Wellmed in violation of Section 3 (e) of Republic Act 3019 or the Anti-Graft and Corrupt Practices Act. Aside from violation of the AntiGraft and Corrupt Practice Act, the NBI is also seeking the prosecution of the respondents for violation of the provision of RA 10606 and RA 6713 also known as the Code of Conduct and Ethical Standards for Public Officials and Employees.

SC chief ‘happy’ with positive Lacson backs bigger 2021 budget rating approval in latest survey for natl broadband, free Wi-fi sites

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UPREME Court Chief Justice Diosdado Peralta expressed satisfaction on Tuesday on the result of the latest Pulse Asia survey, even as the poll indicated a relatively low public awareness percentage compared to heads of other branches of government.

SC spokesman Brian Keith Hosaka said the Chief Magistrate “is happy that despite a relatively lower awareness by the public, he still had a positive approval rating.”

Since magistrates were not elected officials but appointees, Peralta said, they will logically and expectedly have lower awareness by the public.

“More than anything, the Chief Justice is concentrated on providing the necessary reforms in the Judiciary to ensure the public that justice will be better served. That is the thrust of the Peralta Court,” Hosaka said.

In the Pulse Asia Survey conducted from September 14 to 20, Peralta received the lowest rating for public awareness and performance ratings

and for awareness and trust ratings as compared to the five highest officials in government—President Duterte, Vice President Maria Leonor Robredo, Senate President Vicente Sotto III, and House Speaker Alan Peter Cayetano.

The survey showed that only 44 percent of Filipinos are approved of the performance of the Chief Justice, who also obtained a 39 percent trust rating.

But Pulse Asia was unable to release a comparative data for Peralta since it was his first time to be included in the Ulat ng Bayan survey.

The Chief Justice was appointed last October 23, 2019, replacing the now retired Chief Justice Lucas Bersamin.

Since his appointment, the 68-year-old Peralta has been focused on implementing reforms in the Judiciary and making the courts adapt to the restrictions being implemented amid the Covid-19 pandemic.

“The Chief Justice is more concerned on the effectiveness of the

rules and circulars that were issued and implemented during his first year tenure as Chief Justice, which includes those issued during the Covid-19 pandemic in order for the public to have continuous access to our Courts,” Hosaka said.

Following his appointment, Peralta laid down his 10-point program to further strengthen the Judiciary within his more than two-year term.

One of his concerns, Peralta admitted, is the numerous incidents of killings involving justices and judges, which, he said, can be addressed by creating a security team patterned after the United States Marshal Service.

Also included in his 10-point program are the removal of case backlogs, weeding out misfits from the Judiciary and adapting a system where court may initiate on its own the investigation of cases being handled by members of the Judiciary even in the absence of complaints.

Joel R. San Juan

By Butch Fernandez

@butchfBM

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EN. Panfilo M. Lacson on Tuesday threw his full support behind the government’s plan to provide free Wi-fi, especially in farflung areas, and to set up a national broadband program.

Lacson vowed to push for a bigger budget for the two programs, as he noted these will serve as the “backbone of the country’s economy.”

“This is the backbone of our economy. In this day and age of modern information technology, we have no reason not to catch up, or to be at par, with neighboring countries, considering that potential investors’ first concern would be Internet speed,” Lacson said at the hearing for the Department of Information and Communications Technology (DICT) and National Telecommunications Commission’s 2021 budget.

The senator added: “I am a believer in ICT because there is so much we can do if our ICT is efficient.”

Under scrutiny at the hearing,

DICT officials explained the additional P17.276 billion provided in their 2021 budget proposal was intended to complete the national broadband program to cover hundreds of government offices.

Senators were informed that the program can potentially save P720 million in taxpayers’ money in its first year of implementation and save P34.25 billion in Internet connectivity expenses within the next five years.

However, officials told lawmakers that while the DICT’s ideal budget to complete the national broadband program is P18,178,708,149.20, the Department of Budget and Management (DBM) approved only P902,194,000 in the National Expenditure Program (NEP).

They added that the DICT also requested for an additional P3.625 billion for free Wi-fi in remote areas, adding that while its ideal budget was P6,350,579,000, only P2,725,461,000 was approved in the NEP. In turn, Lacson likewise cited

the DICT’s role in assisting the integration of databases of government agencies to further cut bureaucratic red tape, noting that “in this case, the budgets for the database will be with the departments concerned but the DICT will guide the departments on the use of the budgets.”

At the same time, the senator questioned a reported plan by the DBM to render “for later release,” or FLR, the congressional initiatives in the 2021 budget, including institutional amendments.

“Instead of render ing ‘ for later release’ all congressional initiatives without even consulting with the agencies under the executive, it should have asked the executive offices concerned what part of their budgets they could not implement and render those for later release. But if their mindset is to automatically tag ‘FLR’ anything outside the NEP including congressional initiatives, I don’t think it is healthy,” Lacson lamented.

Army facilitates electrification of isolated Davao de Oro village BFAR hoists ‘red tide’ warning in 15 areas

By Manuel T. Cayon @awimailbox Mindanao Bureau Chief

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AVAO CITY—The Army’s 71st Infantry Battalion (IB) facilitated the electrification of an isolated mountain village in Mabini town, Davao de Oro province last week, targeting a farmers’ group as major beneficiary.

The Army helped install solar panels sufficient to supply the power needs of about 47 families, all of whom are also members of the

Barangay Singapore Farmers Association (BaSiFa).

The electrification activity was also complemented by the distribution of rice and vegetable seedlings and farm inputs from the Department of Agriculture supported by the Technical Education and Skills Development Authority.

Groups like Kiwanis International Tagum Chapter and Caritas Manila Charity-Mabini Chapter.

Barangay Singapore is actually a sitio up in the eastern mountains of Barangay Anitapan, Mabini

town, Davao de Oro. The barangay is classified as a geographically isolated and disadvantaged area with a population of 3,737 as of the 2015 census.

The Lucio Tan program called Embrace was being implemented by the Jaime V. Ongpin Foundation, the Office of Rep. Ruwell Peter Gonzaga and the local governments of Mabini and Barangay Anitapan.

Lt. Col. Sonny E. Gonzales, commander of the 71st IB, said lack of basic services like electricity, bad roads

and livelihood were among the issues “exploited by the insurgents to arouse the locals in the said sitio and organize them into mass supporters, or underground mass organizations, of the Communist Party of the Philippines-New People’s Army.”

He said the same issues were the current focus of the military to address the problematic countryside. “Thus everyone must take part in attaining the genuine and lasting peace,” the Army official said.

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HE Bureau of Fisheries and Aquatic Resources (BFAR) has hoisted the “red tide” warning anew in 10 areas, raising to 15 the total number of localities whose waters were found to be positive of paralytic shellfish poison beyond the allowable limit.

BFAR warned the public against gathering, selling and consuming all types of shellfish and alamang harvested in these areas.

In a news statement, BFAR Information and Fisherfolk Coordination Unit said based on the latest laboratory results of BFAR local government unit offices shellfish collected in Puerto Princesa Bay, Puerto Princesa City in Palawan; coastal waters of Dauis and

Tagbilaran City in Bohol; Tambobo and Siit Bays, Siaton and Bais Bay, Bais City in Negros Oriental; coastal waters of Daram Island and San Pedro Bay in Western Samar; Cancabato Bay, Tacloban City in Leyte; Matarinao Bay in Eastern Samar; Balite Bay, Mati City in Davao Oriental have been found positive of the potentially lethal toxin.

Meanwhile, Lianga Bay and coastal waters of Hinatuan in Surigao del Sur remain positive for the paralytic shellfish poison beyond the regulatory limit.

Moreover, coastal waters of Milagros in Masbate and the coastal waters of Zumarraga and Irong-irong Bay in Western Samar are now positive for red tide toxin. Jonathan L. Mayuga

Foundation seeks to ‘relocate’ aggressive macaque troop out of Corregidor Island

By Jonathan L. Mayuga

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@jonlmayuga

HE Department of Environment and Natural Resources (DENR) will conduct an assessment of the native monkey population in Corregidor Island, a tourist spot in Manila Bay, to determine whether if there is a need to relocate the primate species there to other areas.

This as the Corregidor Foundation Inc. (CFI) bared plans to reopen Corregidor Island to tourists next month, amid the presence of what it described as an “aggressive” monkey population the foundation is seeking to relocate out of the island “permanently.”

Cynthia L. Carrion, CFI chairman and CEO, wrote a letter to the Bureau of Animal Industry (BAI) of the Department of Agriculture (DA) on September 25, 2020, expressing concern over the “threat” of the monkey population to prospective tourists on the island.

It was learned that the CFI Board of Trustees approved a resolution for the capture of the native monkeys and take them away from the historic island to prevent any possible animal attack on tourists.

At least a hundred long-tailed macaques are believed to inhabit Corregidor Island at present but there could be more lurking deep in the forest, according to an official of the DENR.

CFI manages the tourism activities on the historic island. Strategically located at the entrance of Manila Bay, Corregidor Island is considered a national shrine that commemorate the battle fought

by Filipino and American forces against Japanese imperial forces during World War II. It is now a popular tourism area in Luzon. While the island is close to Bataan, it is part of the political jurisdiction of Cavite province.

In her letter addressed to BAI Director Ronnie D. Domingo, Carrion appealed that the monkeys be relocated to a suitable place “where they can be of good use and purpose.”

On September 29, 2020, the BAI referred the letter to the Biodiver-

sity Management Bureau (BMB) of the DENR, which has mandate and jurisdiction over wild animals.

The growing population of the native monkeys on the island has been a problem to them even before the Covid-19 pandemic started, Carrion said.

While acknowledging that the native monkeys on the island are also an added attraction as tourists are amazed by their presence, Carrion said the monkeys lately have become “too aggressive to the point of lurking inside hotel rooms, stealing food and on several occasions, run[ning] after tourists.”

“We are afraid that if we let this matter slip longer, the monkeys will be up to something more damaging

like harming tourists, which will cause the image of Corregidor Island more harm than good,” she said.

It was learned that the CFI has tentatively scheduled the reopening of the island to tourists on November 7, 2020.

However, they want the native monkeys taken to another place first to make sure that no untoward incident will happen to tourists during their visit.

DENR Assistant Secretary Ricardo Calderon, concurrent director of the DENR-BMB, told the BusinessMirror that they will coordinate with the Animal Health and Welfare Division of the DA-BAI to address the concerns raised by CFI. “We will coordinate and work

with BAI to look into the problem,” he said.

“We are hoping that the monkey population in the area remains manageable. If the population is more than a hundred, it will be a problem,” Calderon, a forestry expert said.

Normally, Calderon said, monkeys would not go out to the open as they prefer to stay in the forest.

He said native monkeys in the Philippines, notably the long-tailed macaque, has been known to become aggressive and territorial.

Aside from natural breeding, or reproduction, migration to the island may have contributed to the growth of the primate population on the island, Calderon said.

A4 Wednesday, October 7, 2020 • Editor: Vittorio V. Vitug

Economy BusinessMirror

Hunger spike may prompt Palace to reopen economy

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By Samuel P. Medenilla

@sam_medenilla

LARMED over the spike in the number of hunger incidents in previous months, the government is now looking to intensify measures to reopen the economy amid the Covid-19 pandemic.

During his presentation to President Duterte and members of the Cabinet on Monday, National Economic and Development Authority (Neda) Acting Secretary Karl Kendrick Chua reported the effects of lockdown to the people.

“There was an increase in the number of hungry and malnourishment among the children. Because of this, he [Chua] urged the entire government to open up the economy and the importance of addressing the

lack of transportation,” Presidential spokesman Harry Roque said.

Temporary trend

A RECENT survey showed that the reported number of people who experienced involuntary hunger last September increased to 30.7 percent, which is equivalent to 7.6 million households.

This was 9.8 percent higher compared to the 20.9 percent last July.

Roque said they have already

anticipated the trend because of the lockdowns. He said this will improve once more businesses are able to operate.

To address the issue, President Duterte called for a full Cabinet meeting next Monday, or on October 12, 2020.

During the scheduled meeting, Roque said the Cabinet will discuss options to reopen the economy and address public transportation concerns.

Welcome development

IN a related development, Roque welcomed the country’s inflation rate, which slowed last month to 2.3 percent from 2.4 percent last August.

“The Palace is happy that the price of our goods did not increase much.

We’re thankful for that,” Roque said.

The Philippine Statistics Authority attributed the downward trend for inflation to lower demand for vegetables, meat, milk, cheese, and egg, cigarettes, and domestic services.

PNP TEMPORARILY HALTS L.S.I. TRAVEL TO NEGOCC

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HE Philippine National Police (PNP) has temporarily suspended its issuance of travel authority to locally stranded individuals (LSIs) and residents returning, or traveling, to Negros Occidental until Friday.

The suspension was implemented by the PNP in compliance to the Joint

Resolution 43 of the Western Visayas Regional Inter-Agency Task Force on Covid-19 that called for the suspension on the return of LSIs and residents to Negros Occidental from October 3 to 9.

Following the resolution, the PNP Directorate for Operations alerted all police regional offices, the Aviation

Security Group and the Maritime Group to implement the suspension of travel to the province.

Meanwhile, 82 repatriated overseas Filipino workers that include three dependent children arrived in Cagayan de Oro Airport on Monday via an Air Asia sweeper flight. Rene Acosta

www.businessmirror.com.ph

Solons list economic recovery measures for priority passage

By Jovee Marie N. Dela Cruz @joveemarie

H

OUSE leaders renewed their call on Tuesday for the passage of bills that aim to liberalize the economy and provide the much-needed investments to supplement Filipino capital as the economy gradually recovers from the adverse economic impact of Covid-19.

In separate statements, House Committee on Economic Affairs Chairman Rep. Sharon Garin and House Committee on Ways and Means Chairman Rep. Joey Salceda said the New Public Service Act (House Bill 78), Foreign Investments Act (House Bill 300), and Retail Trade Liberalization Act (House Bill 59) were cited by the National Economic and Development Authority (Neda) as crucial measures to aid the country’s economic recovery.

As of March 2020, the House has approved the aforementioned bills on third and final reading.

Salceda said the House, with the help of the Departments of Finance and, Trade and Industry is eyeing an annual $20-billion post-pandemic trade strategy.

Salceda said he seeks to lead a “relentless policy effort to secure whale-sized trading and investment opportunities for the Philippines,” as the US-China trade war escalates and as global manufacturing companies and investors seek to diversify their value chains.

In the aftermath of the Covid-19 pandemic, Salceda said

many manufacturing companies are seeking hubs to diversify their supply chains.

“The Philippines is making a bid to attract these companies, with policy reforms such as CREATE and the amendments to the new Public Service Act, Foreign Investment Act, and Retail Trade Liberalization Act,” he added.

Garin, as principal sponsor of these measures, said these bills will make the Philippines more accessible to foreign investments and open new economic opportunities for Filipinos.

She also acknowledged that allowing the transfer of technologies and know-how from advanced countries will help catalyze economic development and the productivity of the local work force.

“These economic reforms will boost the country’s performance and competitiveness. By reducing some restrictions, we can look forward to more job being generated, improved quality of human resource, and sustainable economic growth,” Garin added.

She also said the bills espouse the goal of providing a “strongly rooted, comfortable, and secure life” for all Filipinos inscribed in AmBisyon 2040.

Following the kickoff of Consumer Welfare Month, Garin added that with improved competition, the bills can potentially reduce prices for the benefit of Filipino consumers.

Garin also underscored the importance of new capital, ideas, and

technology as the country tread the road toward economic resiliency.

In a letter dated September 26, Trade Secretary Ramon Lopez told Salceda that the Philippines is pursuing to deepen trade relations with strategic partners, such as EU, US and Korea through bilateral free trade agreements (FTA).

“We are also working on enhancing trade relations with our major markets such as Japan, China, Australia and New Zealand through the Regional Comprehensive and Economic Partnership [RCEP] agreement. Through these trade agreements, we are not just improving market access on goods through tariff liberalization but also the investment aspect through facilitation and agreement on treatment of investment,” Lopez added.

“We are also maximizing the Generalized System of Preferences [GSP] status that we have from countries such as US and EU to access their market at preferential duties.

We use the FTAs and GSP status that we have as leverage to encourage manufacturers to establish their operations here and to be able to access the market of the countries we have FTAs with,” he said.

Besides trade agreements, Lopez said the country is also utilizing other bilateral mechanisms such as economic dialogue and Joint Economic Cooperation as a platform to engage our strategic partners to discuss investments and industry cooperation opportunities and other economic issues.

PMI exec urges women to protect workplace gains amid Covid-19

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MID the Covid-19 pandemic, Philip Morris International (PMI) Senior Vice President for Global Communications Marian Salzman advised women to protect the gains they have made through the years in the workplace.

In a webinar hosted by Financial Times dubbed “Accelerating Equality” on October 1, 2020, Salzman said women are picking up disproportionate amount of household responsibility during the pandemic that has changed the work-home environment.

“I see something really tragic happening as we are going to move away from career to household and we are going to move to one career, one job again, which is kind of how I grew up in the US in the early 1980s. And I think we are going to see a return to that. I think that there will be a generation of women who are going be disadvantaged by this. We have to work harder to be sure that this doesn’t happen. That is a big mountain to scale,” she said.

Considered as one of the world’s foremost trend spotters and female executives, Salzman delved into the topic “The female pivot: the impact of Covid-19 on women in the workplace” with Financial Times opinion and analysis editor Brooke Masters.

Salzman said Covid restrictions have impacted women in many ways.

To protect the gains achieved by women in the work place, Salzman advised women to consider upskilling, or gaining new useful skills. “If you are using this time as part of a strategic game plan, then you will feel better about yourself because you are going to have a sense of control and be particularly adding skills that will be useful. Just like big business does long-range planning, people who are career-oriented need to sit down and check their long-range plan,” she said.

According to Salzman, women who are struggling to cope with the new normal should rediscover their priorities. “I think the biggest thing is to come up with your own priorities, establish those priorities, and then live to those priorities,” she said.

Salzman was the CEO of Havas PR North America and global chair of the Havas PR Global Collective before tak-

SALZMAN

ing up a senior management team role in PMI in 2018 to help the company realize its smoke-free future vision.

She has firmly positioned PMI at the front of the smoke-free conversation.

She said the pandemic and the accompanying movement restrictions have disrupted not only the work and school schedules but also the body clock, especially of women.

“I think we are going to increasingly recognize we enter into social contract with our employer and we owe them odds number of hours per day whether seven, eight or nine and we do it on our biological clock and on our family clock, so we can be as effective as possible. The work day has died. Covid killed it,” she said.

Salzman noted that the pandemic has changed the way of life across the world, including fashion, dining, hobbies, travel and communication and has transformed homes into a part of school and work.

“I think this is the beginning of a very different way of living. I think we are going to suddenly put enormous amount of emphasis on our homes. It is not just place to sleep, a place to eat but it is also going to be your family’s classroom, your home office, and a bit of supply chain,” Salzman said.

“I feel my whole life has changed because of Covid, some of the things for the better but lots of it for the worst,” Salzman said. “We have been robbed of our weekends. So sad that every day feels like a really bad Sunday. Basically you can do your online grocery shopping 24/7. What is the

difference between Monday and Sunday anymore?”

She said that while online meetings have their benefits, they lack the warmth of actual conversations.

“I think I would be lying if I said it was easy. I think team meetings were okay virtually, but nothing like that cup of coffee. There is nothing like sharing a salad with somebody you work alongside. There is nothing like that laughter that you had in the office,” she said.

Salzman said she had never thought she would feel energized when she went back to the office one time. “I feel like I am reengaged and energized,” she said. “I think we are going to work for social rejuvenation, but we are going home to do our work.”

Salzman suggested healthy eating, reading, upskilling, reconnecting to people, supporting local entrepreneurs and donating time for a cause during the health crisis to cope with the situation.

“I think there are more little gestures that you can do that can make you feel like you are part of something bigger than what is going on in these four walls,” she said.

“I find an organization that I have always been meaning to support. I would reach out and say how can I help and whether it is for small donation, whether it is for the donation of time, I actually engage in something that is bigger and be committed in doing it. Even though it sounds crazy to add another two hours of obligations per week, I think there is satisfaction you’ll get about trying something out that you have always been meaning to do. It feels like getting yourself over the hurdle of inertia, because it is really easy to be inert when you are in these four walls,” she said.

In the Philippines, PMI’s local affiliate, PMFTC Inc. recognizes that men and women must be compensated equally. It was certified by the Equal Salary Foundation, an organization that works in collaboration with the Geneva University Employment Observatory, for providing men and women equal salary for equal work. PMFTC is the first and only EQUAL-SALARY certified company in the Philippines for two years in a row since 2019.

www.businessmirror.com.ph • Editor: Angel R. Calso

The World BusinessMirror

Wednesday, October 7, 2020

A5

WHO: Covid-19 may have infected 10 percent of world’s population

G

E N E VA —T h e h e a d of emergencies at the World Health Organization said Monday the agency’s “best estimates” indicate roughly 1 in 10 people worldwide may have been infected by the coronavirus—more than 20 times the number of confirmed cases—and warned of a difficult period ahead.

Dr. Michael Ryan, speaking to a special session of the WHO’s 34-member executive board focusing on Covid-19, said the figures vary from urban to rural areas, and between different groups, but that ultimately it means “the vast majority of the world remains at risk.” He said the pandemic would continue to evolve, but that tools exist to suppress transmission and save lives.

“Many deaths have been averted and many more lives can be protected,” Ryan said. He was flanked by his boss, WHO Director-General Tedros Adhanom Ghebreyesus, who minutes earlier led a moment of silence to honor victims, as well as a round of applause for the health workers who have strived to save them.

Ryan said Southeast Asia faced a surge in cases, Europe

and the eastern Mediterranean were seeing an increase, while the situations in Africa and the Western Pacific were “rather more positive.” Overall, though, he said the world was “heading into a difficult period.”

“The disease continues to spread. It is on the rise in many parts of the world,” Ryan told attendees from governments who make up the executive board and provide much of the WHO’s funding. “Our current best estimates tell us that about 10 percent of the global population may have been infected by this virus.”

The estimate—which would amount to more than 760 million people based on a current world population of about 7.6 billion—far outstrips the number of confirmed cases as tallied by both the WHO and Johns Hopkins University, now more than 35 million worldwide. Experts have long said that the number of confirmed cases greatly undershoots the true figure.

Ryan did not elaborate on the estimate. Dr. Margaret Harris, a WHO spokeswoman, said it was based on an average of antibody studies conducted around the world. She said the estimated

90 percent of people remaining without infection means the virus has “opportunity” to spread further “if we don’t take action to stop it” such as by contacttracing and tracking of cases by health officials.

Tedros, during his remarks, said: “What we have learned in every region of the world is that with strong leadership, clear and comprehensive strategies, consistent communication, and engaged, empowered and enabled population, it’s never too late...

Every situation can be turned around—and hard-won gains can be easily lost.”

“The pandemic underlines the fundamental importance of investing in public health and primary health care,” said Tedros, wearing a stylish black, red and yellow mask. Tedros had not worn a mask during scores of Covid-19 press conferences he led at WHO headquarters this year.

The comments came during a special session of the executive board to consider the followup to its previous meeting, in May, that passed a resolution to look into the world’s—and WHO’s—response to the pandemic, among other things.

The two-day meeting is the first by the executive board since

the Trump administration set off a one-year countdown this summer toward pulling the United States out of the WHO next July. President Donald Trump, who himself has been infected

by Covid-19, has repeatedly accused the WHO of being too accepting of China’s explanations of its handling of the outbreak in Wuhan late last year.

On a far more conciliatory tone, Assistant Secretary of Health Brett Giroir, the US representative on the board, told the meeting by videoconference that the United States “looks forward to working together to defeat this pandemic and move our people and economics back to normalcy.”

Giroir also pressed WHO— albeit gently—to clear up its relationship with the Chinese government. He said a “key mandate” from the resolution in May was its call for a joint mission involving the WHO, the World Organization for Animal Health, and the UN’s Food and Agricultural Organization to look into the animal origins of the virus and its transmission to humans.

A two-person advance team for that mission has visited China, but a fuller mission isn’t ready. Giroir said it was “critical”

US FDA clarifies standards for emergency vaccine use

T

he Food and Drug Administration said it’s made clear to drugmakers the standards for a vaccine to be cleared for emergency use, obviating a more formal FDA guidance document that is still under review by the White House.

As final-stage trials of Covid-19 vaccines proceed, the FDA has worked to make clear what standards would have to be met to authorize use of the shots. One such path is an emergencyuse authorization, or EUA, a fast-track procedure that relies on less safety and efficacy data than a full approval.

On Monday, the New York Times and Politico both reported that the EUA guidance had been blocked by the White House.

An FDA spokesman also said the EUA guidance was still under review, and that drugmakers working on vaccines had already been informed by the agenc y what the standards would be — despite the lack of publication of the document.

“This does not change how the FDA would evaluate an emergenc y use authorization request for a Covid-19 va cc i n e,” s a i d M i c h a e l Fe l b e r b a u m , an agenc y spokesman. “The FDA has already communicated with individual manufac turers about its expec tations, data the agenc y intends to consider, and what we expec t to see in a request for an emergenc y use authorization to

demonstrate safet y and efficac y.”

Peter Marks, direc tor of the FDA’s biologics office, said at a Sept. 29 event that that includes at least t wo months of data on the safet y of any Covid-19 vaccine. The guidance document, Marks said at the time, “was an attempt to h e l p t h e p u b l i c s e e w h at we we re requiring of Covid vaccines so they understood.”

A s Pre s i d e nt D o n a l d Tr u m p h a s made repeated asser tions that a vaccine would be ready by Elec tion Day, and accused “deep state” staff in the agenc y of working against him, the FDA’s leadership has sought to reassure the public that any vaccine it

reviews won’t be influenced by political considerations.

Politico, in its repor t on Monday, said that lobbying by the drug industr y to the White House had been behind the blocking of the guidance.

The FDA isn’t aware of any such effor t or pressure, an administration official said Monday night. A senior administration official disputed the Politico repor t and said there had been no industr y pressure.

“Science will guide our decisions,” FDA Commissioner Stephen Hahn said in an O c tober 1 t weet. “FDA will not permit any pressure, from anybody, to change that.” Bloomberg News

Pompeo seeks to show united front on China amid U.S. pandemic crisis U NITED STATES Secretary of State Michael Pompeo began meetings with counterparts from three other democratic countries in Tokyo, in a bid to keep up the pressure on China amid the coronavirus crisis rocking Washington.

The so-called Quad—also including Australia, India and Japan—is slated to hold its second ministerial-level meeting later Tuesday, an event expected to help firm up New Delhi’s participation in the group. The first international gathering of ministers in Japan in almost a year demonstrates solidarity at a time when China is feuding with at least three of its members: Australia, US and India.

For the host, newly installed Japanese Prime Minister Yoshihide Suga, the meeting signals a willingness to continue some of his predecessor Shinzo Abe’s more hawkish security projects. China has expressed concerns that the “Quadrilateral Initiative,” which Abe first helped promote more than a decade ago, is an attempt to form “exclusive cliques” and stoke a “new Cold War.” “ W h a t t h e y ’re d o i n g i s sending a message to the Chinese side that engagement i s m o re i m p o r t a n t t h a n a s s e r t i ve n e s s,” s a i d Ku n i h i ko M i y a ke , a f o r m e r d i p l o m a t a n d v i s i t i n g p ro f e s s o r a t J a p a n’s R i t s u m e i k a n U n i ve r s i t y. “ I t d o e s n’t m e a n t h a t t h i s i s something to contain China.

N o b o d y c a n c o n t a i n C h i n a .”

Pompeo’s visit

The Quad has gained momentum as President Donald Trump pursues a more confrontational approach to Beijing, while India grows increasingly wary of Chinese economic and military influence in South Asia. The US has since 2017 sought to draw India, which has traditionally protected its nonaligned status, into the fold with a re-branded “Indo-Pacific Strategy.”

That the meeting is happening at all, as Trump battles a Covid-19 infec tion in Washington, illustrates its impor tance to the US. Pompeo— one of the Trump administration’s most vocal critics of the Chinese Communist Par t y— canceled subsequent stops in Mongolia and South Korea initially planned for later this week .

Pompeo was set to hold bilateral meetings with counterparts Marise Payne of Australia and Toshimitsu Motegi of Japan and Subrahmanyam Jaishankar of India as well as with Suga ahead of the four-way discussions.

Australia and China have been locked in a diplomatic tit-for-tat over Canberra’s support for an independent investigation into the origins of the coronavirus while Indian and Chinese troops are staring each other down after the deadliest clashes in more than four decades on their disputed Himalayan border.

The meeting will also be the first big diplomatic event for Suga, after coming to the premier’s job less than three weeks ago with little foreign policy experience. Suga must strike a balance between Japan’s biggest trading partner, China, and its only military ally, the US. He also agreed to work closely with Chinese President Xi Jinping during a recent phone call.

Pompeo praised Suga as a “powerful force for good” in his previous role as chief cabinet secretary, adding that: “The United States has every reason to believe he will strengthen our enduring alliance in his new role.”

United front

The four ministers are expected to discuss the pandemic and the regional situation, as well as the importance of cooperation with other countries in realizing a “free and open Indo-Pacific.” With no joint statement expected from the meeting, its value could be more symbolic than concrete, although Japan is seeking to make it an annual event.

“We hope the relevant countries can think more of the regional countries’ common interests and contribute to regional peace, stability and development rather than doing the opposite,” the Chinese Foreign Ministry said in a statement.

India is also expected to invite Australia to take part in an annual

naval drill, expanding what has been a trilateral event with the US and Japan, Bloomberg News reported in July. The Quad held its first formal ministerial-level gathering about a year ago in New York, which was seen as a sign of growing unease over Xi’s more assertive foreign policy.

Wang Huiyao, an adviser to China’s cabinet and founder of the Center for China and Globalization, said he doesn’t think a strategic alliance aimed at Beijing is useful or productive. “China is a large trading partner for those nations and has regular collaboration with those nations,” Wang said.

The elevation last year of the discussion from official-level talks suggests the previously informal framework was being strengthened to improve intelligence-gathering and present a united front on regional security issues. Tuesday’s meeting comes after the trade ministers of Australia, India and Japan agreed last month to work toward achieving supply-chain resilience in the region, following reports that the three nations were looking to work together to counter the trade dominance of the People’s Republic.

“The Quad seeks to establish, promote, and secure Indo-Pacific principles, especially as PRC tactics, aggression, and coercion increase in the region,” Assistant Secretary of State David Stilwell, of the Bureau of East Asian and Pacific Affairs, told reporters on Friday.

Bloomberg News

that WHO member-states receive regular and timely updates about the mission and its “terms of reference”—an allusion to working guidelines that detail just how much access the mission’s members will have in China.

Chinese board member Zhang Yang, speaking by videoconference, said China has been “transparent and responsible” and has been fulfilling its responsibilities under the resolution. She said it had been communicating regularly with the

WHO and keeping up its financial commitments to the UN agency.

Board member Clemens Auer of Austria lamented a “political weakening” of the WHO, citing the “potential withdrawal of a strong WHO member-state”—an allusion to the US. He appealed for a “retreat session” for board members, saying it should be an “active” body—not a “ceremonial” one. US representative Giroir expressed support for that idea. AP

A6 Wednesday, October 7, 2020 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Helping farmers in time of calamities

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onths before the pandemic struck in China last year, the Philippines has already been grappling with a weak El Niño, which started in the last quarter of 2018. The Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa) declared the presence of a weak El Niño in the country after its climate monitoring and analyses indicated the unusually warm sea surface temperatures in the central and eastern equatorial Pacific. The weather phenomenon, which causes below normal rainfall conditions in different parts of the country, ended in August 2019.

The El Niño episode last year was a major factor behind the farm sector’s declining output (See, “El Niño slashes farm output in January to June,” in the BusinessMirror, August 8, 2019).

Increases in output posted by the livestock, poultry, and fisheries subsectors were not enough to offset the drop in the production of crops, particularly rice, which requires huge amounts of water. The dry spell caused farm output to contract by 0.24 percent and farmers to lose billions of pesos (See “Farmers, fisherfolk bear P4.35B loss from El Niño,” in the BusinessMirror, March 31, 2019).

Even before the country could fully recover from the devastation wrought by the weak El Niño last year, another weather event is threatening to disrupt farm output this year. In an advisory dated October 2, Pagasa announced the onset of a weak to moderate La Niña, which will likely persist until the first quarter of 2021. The weather bureau warned that La Niña may cause above normal rainfall conditions across most areas of the country during the last quarter of the year and in the early months of 2021.

A La Niña episode, particularly if it will only cause a slight increase in rainfall, is beneficial for water-loving crops like rice. However, the weather event has the potential to cause heavy rainfall, which is bad news for crops like sugar (See, “Gain report: La Niña threat to PHL raw sugar production,” in the BusinessMirror, October 5, 2020). Floods caused by heavy rain can also disrupt farm production, harvest, and destroy standing crops.

During the last significant La Niña event in 2011, world food prices rose sharply with the United Nations’ Food and Agriculture World Food Price Index surging to a record in February 2011 (See, “La Niña may disrupt global food supply, send prices higher,” in the BusinessMirror, September 13, 2020). In the case of the Philippines, the timing of La Niña is a cause for concern as it coincided with the planting of rice in areas considered as top producers of the staple. Farmers in the northern part of the Philippines usually start planting rice in November and this will be harvested starting March the following year.

The government is no stranger to weather phenomena like La Niña, having been exposed to these kinds of events in recent years.

That’s why there are programs in place to mitigate La Niña’s ill effects on the farm sector. While there is nothing we can do about the volume of rainfall that we will experience in the coming months, the government has the means to help our planters. Timely and targeted interventions will ensure that we will survive La Niña and Covid-19.

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Aurora C. Ignacio

All About Social Security

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N a recent conversation with some of my senior citizen colleagues, they were talking about the government’s guidelines for restricting those 60 years old and above to go out of their respective homes amid the current Covid-19 pandemic.

They said they have missed a lot of gatherings, celebrations, and dayto-day activities that they can freely do before the pandemic.

I understand their situation since I also miss those times when I can freely go to the mall or meet with friends. However, for me, it is best to follow these imposed restrictions as we are considered high-risk individuals. Staying at home for a long period of time may be monotonous and routinary, but then, who would want to be confined in a hospital, intubated, and separated from our loved ones if we have contracted this disease?

Of course, no one would like that.

But while the pandemic put a halt to many things, financial expenses is not one of them. One might even need to spend more than his/her usual monthly budget for necessities such as facemasks, face shields, vitamins, medicines, and others.

This could be the case for many Filipinos.

The Social Security System (SSS) have programs that are designed to respond to such situations where our members and pensioners need assistance for their immediate financial needs. In this column, allow me to discuss our program for SSS

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retiree-pensioners.

Launched in September 2018, the SSS Pension Loan Program (PLP) aims to provide economic assistance to qualified retiree-pensioners through a low-interest loan.

Since senior citizens are restricted to go out, effective September 15, 2020, the SSS has made available the online filing for the PLP to allow qualified retiree-pensioners to file their PLP applications, in the safety of their homes, through the My.SSS member portal at www.sss.gov.ph.

This too is part of the SSS’ continuous digital transformation efforts geared towards providing its members with simpler, faster, and more convenient means of availing its services.

To qualify for online filing, pensioners should have the following: n A My.SSS account (to facilitate the online filing); n A current and active mobile number; n A disbursement account registered with the SSS that may be a Unified Multi-Purpose Identification card enrolled as an ATM card or an SSS-issued Union Bank of the Philippines Quick Card (disbursement of pension loans through

PESONet participating banks is not yet available); n 85 years of age or below at the end of the month of their loan term; n No deductions, such as outstanding loan balance, benefit overpayment to the SSS, etc. from monthly pension; n No existing advance pension under the SSS Calamity Assistance Package; n Receiving their regular monthly pension for at least one month, and the status of pension is “Active;” n Not a retiree-pensioner under the Portability Law or under the care and custody of a guardian and is not receiving monthly pensions through checks.

In most cases, those who are eligible for the online application of pension loans are those who have previously availed of the program, are already fully paid and have been issued UBP Quick Cards.

If they met these conditions, they may file their PLP applications online through these five easy steps: 1. Log in to their respective My.SSS accounts; 2. Proceed to the E-services tab and click “Apply for Pension Loan;” 3. Choose their preferred loan amount and term; 4. Agree to the terms and conditions of the program and submit their application; and 5. Print or download the PDF copy of the Disclosure Statement.

They will receive an e-mail confirmation of their applications. Pension loan proceeds will be credited to their disbursement accounts within five working days.

Through the PLP, qualified-retiree pensioners may avail themselves of a loan of three, six, nine, or 12 times their basic monthly pension

(BMP) plus the P1,000 additional benefit, granted in 2017, but not to exceed the maximum loan amount of P200,000.

Pension loans of three and six times the pensioner’s BMP plus the P1,000 additional benefit have a payment term of six and 12 months, respectively. On the other hand, both pension loans of nine and 12 times the BMP plus the P1,000 additional benefit have a payment term of 24 months.

The first monthly amortization for the PLP will be due on the second month after the loan was granted.

Amortizations are deducted from the retiree-pensioner’s monthly pension.

The SSS ensures that the borrower, in his/her preferred loan amount and term, will still have a net takehome pay of at least 47.25 percent of his/her BMP, including the additional P1,000 benefit.

The PLP has an interest rate of 10 percent per annum. All pension loan borrowers are covered by a Credit Life Insurance where the premium is deducted from the pension loan proceeds.

As of September 30, 2020, we have released P5.58 billion to 150,466 borrowers under the PLP. Our work at SSS does not stop here as we continue to provide our members and pensioners with services attuned to the present times, whenever and wherever they need their SSS benefits. As I was explaining to a close friend, it pays to be a senior citizen, now more than ever.

Stay safe and well everyone!

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

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

Declare seafarers as regular employees, not merely contractual Dennis Gorecho

Pinoy Marino Rights

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T

he Makabayan Bloc in Congress, through House Bill (HB) 6588, is pushing for job security for seafarers through regularization of their employment status.

The HB 6588 filed on March 11, 2020 is one of the many other bills called the Magna Carta of Filipino Seafarers proposed in the House and in the Senate that aim to institute mechanisms to protect our country’s seafarers’ rights, provide them compulsory benefits, and enforce standards set by international laws.

The Magna Carta, which in essence simply enshrines MLC 2006 into Philippine law, states that sea-

farers have the right to safe and secure workplace that complies with safety standards; decent working and living conditions on board a ship; medical care, welfare measures and other forms of health and social protection, among others.

But only HB 6588 raised the issue of job security through the regularization of seafarers who have worked for at least one year (cumulative) with one company.

This is similar to the Labor Code provision (Art. 279) on regularization of employees after working for one year.

The provision under HB 6588 that is absent in all other versions of the Magna Carta provides in Section 47 (c) that “The termination of employment of a seafarer on board a foreign vessel or foreign registered ships shall be governed by the POEASEC or applicable CBA, provided that a seafarer who has worked for the same manning agent or for the same shipowner or both, for a cumulative period of one year shall enjoy the security of tenure of a regular employee as per Art 279 of the Labor Code of the Philippines as amended, and the employer is obligated to rehire and give the right of first refusal to a regular employee who qualifies, and is willing to work, for the next available vacant position of similar or higher rank. Once a seafarer has acquired the regular status, he can no

longer be refused successive employment unless he resigns in writing, has abandoned his employment, or is dismissed for just cause as provided in Art 282 of the Labor Code of the Philippines as amended.”

The bill seeks to address the issue of seafarers not being entitled to the benefits given to a regular or permanent employee, such as 13thmonth pay, reinstatement, separation or termination pay or in some instances, even retirement benefits, since they are considered merely as contractual employees.

This has been the consistent ruling of the Supreme Court since it issued its decision in the 2002 case of Millares v. NLRC (GR 110524 July 29, 2002) that became the landmark jurisprudence defining the nature of employment of Filipino seafarers as they are considered contractual employees.

Their employment is governed by See “Gorecho,” A7

Opinion BusinessMirror

www.businessmirror.com.ph

The brokers’ influence among insurers

Balik Probinsiya Program needs all the support it can get Dr. Jesus Lim Arranza

MAKE SENSE

Atty. Dennis B. Funa

INSURANCE FORUM

B

rokers are indispensable partners of insurance companies.

They bring business in a very competitive market. Brokers do not work for insurance companies (referred to as providers), they represent the insured’s interests. So an insurance broker knocking at an insurer’s door is always heaven sent. The business they bring to an insurance company can be significant. Most particularly for non-life insurers. The rewards of a repeat business can never be underappreciated. In addition to related services such as handling claims for the insured, several brokers also provide other added services such as advisory or consultancy services for its corporate clients.

The country has about 63 insurance brokerage companies. They also broker for HMOs. Looking at the 2018 business, the total premium production of both life and non-life insurers and HMOs amounted to P323.05 billion (It was P287.38 billion in 2017). The insurance and reinsurance brokers brought in P71.64 billion of this figure as direct premiums. This means that about 22.17 percent of the total premiums were coursed through brokers. About onefourth of all insurance business was made through brokers. A very significant portion.

Brokers’ business continues to rise. The P71.64 billion 2018 brokers’ business was 19.22 percent higher that than of 2017’s P60.09 billion brokers’ business.

The 2018 increase in brokers’ insurance (excluding reinsurance) business can be attributed to increases in health insurance (15.96 percent), life (27.83 percent), motor vehicle (14.07 percent), and fire insurance (15.55 percent). These four insurance products comprised 79.46 percent of the total premiums produced. A high 94.72 percent of the total brokers’ premiums were generated by insurance brokers while 5.28 percent were generated by reinsurance brokers.

In terms of business lines, for the insurance brokers, health insurance brought in the biggest business with 26.98 percent of the total insurance premiums or about P18.314 billion in premiums. This shows that health insurance is a priority amongst corporate employers. Second is fire insurance with 25.88 percent of the total insurance premiums or about P17.569 billion in premiums. Third is life insurance with 16.38 percent of total premiums or about P11.11 billion in premiums. Fourth is motor vehicle insurance with 10.20 percent of total insurance premiums or about P6.92 billion in premiums. Other lines such as ocean marine, inland

Gorecho. . .

continued from A6

the contracts they sign every time they are rehired and their employment is terminated when the contract expires. Their employment is contractually fixed for a certain period of time. They fall under the exception of Article 280 whose employment has been fixed for a specific project or undertaking the completion or termination of which has been determined at the time of engagement of the employee or where the work or services to be performed is seasonal in nature and the employment is for the duration of the season.

The provisions of the POEA contract require the seafarer to arrive at the point of hire as it signifies the completion of the employment contract, and not merely its expiration. Similarly, a seafarer’s employment contract is terminated even before the contract expires as soon as he arrives at the point of hire and signs off for medical reasons, due to shipwreck, voluntary resignation or for other just causes.

Constrained by the nature of their employment, which is quite peculiar and unique in itself, the Supreme

In terms of business lines, for the insurance brokers, health insurance brought in the biggest business with 26.98 percent of the total insurance premiums or about P18.314 billion in premiums. This shows that health insurance is a priority amongst corporate employers. marine, marine hull, aviation, fidelity and surety, engineering, accident, and others accounted for 21.70 percent of the total premiums.

For the reinsurance brokers, miscellaneous reinsurance business brought in 40.52 percent of the total premiums or about P1.533 billion. The fire reinsurance business brought in 28.89 percent or about P1.092 billion.

Commissions of insurance and reinsurance brokers reached a hefty P8.33 billion in 2018. This increased by 11.51 percent from P7.477 billion from the previous year. Typical commissions range from between 2 percent to 8 percent of premiums.

As of end of 2018, commissions of insurance brokers were mainly from the non-life insurance business in the amount of P6.17 billion, which represents 84.21 percent of the total commissions earned.

The 10 largest insurance brokers, as of 2017, were BDO Insurance Brokers Inc., Marsh Philippines Inc., AON Insurance and Reinsurance Brokers Philippines Inc., HSBC Insurance Brokers (Phils.) Inc., Jardine Lloyd Thompson Insurance Brokers Inc., Lockton Philippines Insurance and Reinsurance Brokers Inc., Anchor Insurance Brokers Corp., Gotuaco, Del Rosario Insurance Brokers Inc., Unicon Insurance Brokers Corp. and Intertrade Insurance Brokers. The combined premiums of these brokers composed 75 percent of the total brokers’ premiums for 2017.

Court noted in Ceriola v. NAESS Shipping (GR 193101 April 20, 2015) that it is for the mutual interest of both the seafarer and the employer why the employment status must be contractual only or for a certain period of time. The exigencies of their work necessitates that they be employed on a contractual basis.

The Philippines is considered as the major supplier of maritime labor globally as it is estimated that there is one Filipino seafarer for every four to five complements on board a vessel at any time.

The estimated 519,031 deployed Filipino seafarers in 2019 per POEA data remitted $6.539 billion or around P326.95 billion. The seabased sector’s remittances comprise at least 22 percent of the total dollar remittances of overseas Filipino workers.

The country celebrated the 25th National Seafarers Day last Sunday, September 27, 2020, led by the Apostleship of the Sea with the theme “Seafarers are key workers. You are not alone. You are not forgotten.”

Atty. Dennis Gorecho heads the seafarers’ division of the Sapalo Velez Bundang Bulilan law offices. For comments, e-mail info@sapalovelez.com or call 0917-5025808 or 0908-8665786.

Wednesday, October 7, 2020 A7

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enator Christopher “Bong” Go’s “Balik Probinsiya” program, which was implemented at a time when the Greater Manila Area’s rate of Covid-19 infection was on an upsurge initially got the ire of some local government officials, especially after a number of those sent home were found to be asymptomatic carriers of the coronavirus. But it’s definitely not the fault of the senator. It must have been caused by some over eager officials tasked to implement the program.

The large number of people that showed up to avail themselves of the program after losing their jobs and income stream in the big city when factories and businesses closed their operations due to the community lockdowns clearly explains that jobs are what attract people to urban centers in the country. And because the country’s center of trade is in Manila, congestion in terms of traffic and human population remain to be the National Capital Region’s major problem.

However, things are changing in the country’s business landscape, triggered by natural market forces. For instance, most coconut oil millers and refiners used

to be based in the Metro Manila Area, like Baguio Oil, Procter and Gamble, and the Philippine Refining Company, among others. But when copra dealers in the provinces started milling and refining their own local copra produce, the urban-based coconut oil millers and refiners had to relocate their plants to the provinces, close to their primary source of raw materials, to be competitive.

This make’s Senator Go’s “Balik Probinsya, Bagong Pag-asa” (BP2) Program, which is seen as a longterm, holistic program that could address perennial problems in urban and rural areas as a very sensible solution to congestion-related prob-

lems in the country’s urban centers and key cities.

With its noble aim to promote a more equitable distribution of wealth and resources among all sectors of society and a balanced economic development in all parts of the country, Senator Go’s BP2 program could help boost the nation’s economic growth in the regions. At the same time, it will help mitigate the economic cost of traffic in the metropolis, which is expected to reach P5.4 billion a day by 2035, according to a study by the Japan International Cooperation Agency.

Previous administrations also had programs similar to Senator Go’s “Balik probinsiya.” But they all failed to decongest urban centers like Metro Manila and other key cities because people who availed themselves of the program kept coming back to the big city to find work. Quoting Senator Panfilo Lacson: “Urban decongestion is only possible if government can create livelihood opportunities in rural areas.”

Thus, Senator Go’s BP2 program should be implemented hand-inhand with industry dispersal and the decentralization of imperial Manila. For instance, the government can provide incentives to manufacturers who are willing to relocate their operations to the regions. With tax holidays and a one-

Optimism: Biases, delusion, solution Dr. Carl E. Balita

Entrepreneurs’ Footprints Part 1 of 3 series

O

ptimism is a conviction that the future is positive and that we will get through this pandemic experience. It is more than positivity—which simply labels things as good. Optimism is a doctrine and a philosophical standpoint that this world is the best possible world. The American Psychological Association (APA) Dictionary of Psychology defines optimism as hopefulness— the attitude that good things will happen and that people’s wishes or aims will ultimately be fulfilled.

Optimists are those who are confident of attaining desired goals.

Webster puts it as an inclination to put the most favorable construction upon actions and events or to anticipate the best possible outcome.

In the recently concluded Franchise Asia Philippines—Virtual Conference conducted by the Philippine Franchise Association, surveys were conducted before and after the event, which reflected the optimism of the participants. The PFA’s Virtual Conference happened on September 21 to 25, 2020 and was attended by 730 participants, mostly from the franchise sector.

The survey data indicated that before the conference, the 72 percent had high to very high optimism and by end of the conference, the high to very high level of optimism shifted to 85 percent. The mean score of optimism was 3.902, or almost high, in the beginning and shifted to 4.202, or above high, after the conference. The NET optimism, the difference between the optimists and the pessimists, in the beginning was +64 and ended up to +81 in the end. Using t-test, it can be concluded that there is a significant difference between two sets of data to prove an increase in optimism after the conference. By this difference, it can be deduced that the conference contributed to this difference.

PFA President Sherill Quintana opines that the collaborative and symbiotic nature of the franchisorfranchisee relationship may have mitigated the impact of the pandemic toward a more optimistic view at the onset. The “big-brother” support of a franchisor that is committed to helping every franchisee to survive and thrive. Quintana also notes the heightened optimism after the

conference. This may be attributed to their learning, which the participants indicated strongly in the postconference evaluation. Quintana quips that the optimism shared by CEO’s and other luminaries of the franchising sector must have created that bandwagon of optimism.

It is also in that conference when the Father of Philippine Franchising Samie Lim launched his vision of the Golden Age of Franchising in 2021 to 2025. Such vision of the PFA Founder may have ignited a collective optimism of a sector that had a long history and evidence of resilience through past crises.

Filipinos’ pandemic roller coaster ride

In December 2019, the Pulse Asia Survey reflected the optimism of the Filipinos for 2020 with 93 percent welcoming the year with hope, which was higher than the 91 percent registered in December 2018.

Filipinos were optimistic. In a study conducted by the Global Web Index in March 16 to 20, Philippines ranked highest, No. 1, in terms of concern about coronavirus at 91 percent, but has the second highest in optimism at 75 percent, next to China which registered 93 percent. The Filipino respondents thought the Covid-19 pandemic will last for 6.2 months, and thought that in the Philippines it will last only for 3.7 months. Note that the respondents had better optimism of the Philippines than for the world.

Majority of Filipinos are optimistic that the country can overcome the pandemic. A quantitative study prepared by the Philippine Survey Research Center, from April 7 to 12, showed that around 88 percent of Filipinos are optimis-

tic that the country can overcome the pandemic, with only 3 percent that were pessimistic while 9 percent were uncertain. Optimism was high as the study also showed that around 35 percent of Filipinos believed that the health crisis would last for one month, while 46 percent believed it would last for two to three months. Around 12 percent of Filipinos think it will last for four to six months and 7 percent think the pandemic will be solved in over six months. This survey was in April.

Towards the latter part of the experience, the level of optimism changed. The Social Weather Station Survey, in May 2020, indicated that 43 percent of Filipinos expect their quality of life to worsen in the next 12 months with only 24 percent remaining optimistic. This survey registers the historical record low Net Optimism (optimists less pessimists) at -18.

Similarly, based on Consumer Expectations Survey in 2020, the consumer confidence index in the Philippines turned pessimistic for the third quarter 2020, as the overall confidence index declined to a record low of -54.5. The central bank explained that the survey was conducted during the period July 1-14, 2020, when the country was struggling to combat the pandemic. Consumer sentiment on the three indicators turned pessimistic compared with Q1 2020 survey.

The consumer confidence on the family’s financial situation and family income registered all-time lows since Q1 2007.

For Q4, consumer sentiment across indicators weakened compared with the outturn in the previous survey round. The consumer confidence for the next 12 months across component indicators was more favorable compared with the first quarter 2020, due to expectations of an end to the pandemic.

Optimism as a positive resource

Researches have confirmed the findings that optimism is related to psychological well-being. Chang simply puts that optimists emerge from difficult circumstances with less distress than do pessimists.

Positive psychological resources, capabilities, and strengths such as optimism and psychological flexibility are key ingredients in contributing to positive mental health during a health crisis.

Yildirim Arslan et al. conducted a study on Coronavirus Stress, Optimism-Pessimism, Psychological

stop shop that provides ease of doing business incentives, among others, to entice manufacturers to transfer their operations to the regions, this could be a win-win solution for industry stakeholders.

They can sell their properties in the urban areas for a significant profit, and reinvest their earnings from the sale to acquire a similar or bigger area in the regions at a much lower cost. Moreover, they can cut the handling costs of their raw materials by putting up their factories close to the source. And most importantly, they will bring jobs to the rural areas and eventually perk up economic activity in the countryside.

All these policy-driven shifts in the country’s manufacturing industry landscape, coupled with the natural forces to set the premise for a broad-based industry sector that would benefit both urban and rural communities amid the pandemic make Senator Go’s BP2 program the probable answer to the country’s fight against poverty. And for the BP2 to succeed, it must have the support of all sectors of society.

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

Inflexibility, and Psychological Health: Psychometric Properties of the Coronavirus Stress Measure, in 2020, and concluded that, consistent with previous studies, stress was found to correlate positively with pessimism, psychological inflexibility, and psychological problems, and correlate negatively with optimism. The results of their study showed that optimism and pessimism significantly mediated the relationship of psychological inflexibility with psychological problems, suggesting that higher optimism and lower pessimism can reduce the negative impact of psychological inflexibility on the experience of psychological problems.

Importantly, optimism, pessimism, and psychological inflexibility together significantly mediated the relationship between coronavirus stress and psychological problems.

These results suggest that the reason people with high levels of coronavirus stress report greater psychological problems and have high levels of psychological inflexibility and pessimism and lower levels of optimism.

High levels of optimism and low levels of psychological inflexibility and pessimism may help people to cope with coronavirus stress and foster lower levels of psychological problems.

Optimism as an entrepreneurial character

Jason Feifer, the editor-in-chief of Entrepreneur Magazine, was quoted as saying that “Entrepreneurs make me optimistic. They already have many of the mental tools required to get through this. They already know that change is inevitable, and that old plans have to be scrapped, and that today’s successes do not guarantee tomorrow’s survival. That’s why, as soon as this crisis started, they began focusing on solutions—and I believe they’ll build a better world as a result.”

The footprints of the entrepreneurs leave the mark of visionary opportunism and calculated risktaking, which are anchored on optimism. Such may cross the border of gambling behavior, faulty planning and tendency to underestimate reality. There is such a thing as optimistic bias, which sounds negative until one appreciates its value to life’s success and entrepreneurial achievement.

To be continued next week For feedback, please send e-mail to drcarlbalita@ yahoo.com.

A8 Wednesday, October 7, 2020

Stop passing laws that will be funded by loans, Atienza tells Congress

A

SENIOR law maker has urged lawmakers not to pass laws without the necessary funding and relying only on borrowings.

Buhay Rep. Lito Atienza noted that Congress is continuously approving measures without necessary funding.

“People have been saying—why do we keep passing laws that do not have the necessary funding?

Like the recently approved [P1.3trillion] Accelerated Recovery and Investments Stimulus for the Economy Act [ARISE] and [P1.5 trillion] Covid-19 Unemployment Reduction Economic Stimulus Act [CURES] bills, which would rely heavily on borrowings for funds,” said Atienza in his recent interpellation of House Committee on Appropriations Vice Chairman Horacio Suansing, who was defending the budget of the Department of Finance.

Earlier, the economic managers had said the ARISE bill was “not fundable.”

The two stimulus measures are now pending with the Senate.

Asked by Atienza if there was a proposed bill that needs financial support, Suansing replied that “every expenditure has to have a corresponding revenue. We need to have resources to pay for expenditure. ”

But Atienza said, “I know that government does not have that power under the Constitution to just keep on appropriating without sourcing. So we need to source the funds before we get our people excited about these so-called economic stimulus acts.”

The lawmaker also asked why the government has to resort to borrowing to fund these bills when there is a source of revenues that has not been tapped until now.

Lawmaker’s participation

Meanwhile, Atienza urged the House leadership to allow more lawmakers to attend in-person session and plenary debates on the proposed P4.506-trillion national budget for next year.

According to Atienza, the current leadership is “limiting the participation to deliberations to [Speaker Alan Peter Cayetano’s] peers.”

Seven months into the pandemic, Atienza said the House leadership has yet to come up with protocols that would allow the gradual reopening of Congress to more legislators and transition from legislating from a distance.

Atienza also lambasted Cayetano for conveniently using Covid-19 to exclude majority of the lawmakers from doing their duties.

Jovee Marie N. Dela Cruz

Stop importing, help boost local prices of palay, traders told

A

By Jasper Emmanuel Y. Arcalas

@jearcalas

GRICULTURE Secretary William D. Dar on Tuesday appealed to rice traders and importers to be “patriotic” and stop importing during local harvest so that palay prices would not be depressed.

In two separate virtual press briefings, Dar revealed they have already talked to rice traders and importers through the Department of Agriculture’s Bureau of Plant Industry (BPI) to stop bringing in rice shipments during October and November, the peak of the local palay harvest.

Dar added that they have asked traders to not take advantage of the Covid-19 pandemic to make profits and instead help farmers to earn more in these trying times.

“So...they should have patrio-

tism during this pandemic. Let’s help each other for our rice farmers,” he said.

“We are talking to the rice importers out of patriotism. And so far they are responding well to our appeal,” he added.

Dar said about 2 million metric tons (MMT) of rice entered the country since January and around 200,000 MT to 300,000 MT is expected to arrive this last quarter, most of which is expected by December.

Given the optimistic total rice harvest in the second semester coupled by imports, the country set it to end the year with a carryover stockpile that is good to last for three months, or the whole first quarter of next year.

Dar said provincial and local government units (LGUs) have heeded the call of the DA to purchase the palay produced by their own farmers. The local procurement by the LGUs and PLGUs is in partnership with the National Food Authority (NFA). In that setup, the food agency’s warehouses and facilities are tapped for storing the palay.

Furthermore, Dar urged multi-

nationals to source the rice requirements of their employees from local farmers so the farm-gate prices would be maintained at a profitable level for them during the pandemic.

The average farm-gate price of dry palay fell to a five-week low in the second week of September, as farmers have started harvesting their crop, data from the Philippine Statistics Authority (PSA) showed.

The average quotation of P17.12 per kilogram for unmilled rice during the period was 3 percent lower than the figure recorded in the previous week. However, the price was 5.81 percent higher than last year’s P16.18 per kg, based on PSA data.

PSA data showed that during the reference period only the regions of Cagayan Valley, Central Luzon, Calabarzon, Central Visayas, and Eastern Visayas posted an average dry palay quotation that is higher than P17 per kg.

Dry and clean palay was sold at P17 per kg or lower in other regions, PSA data indicated.

The nationwide average buying price of P17.12 per kg for dry palay is equivalent to P16 per kg for fresh or wet palay, based on BusinessMirror’s computation using PSA’s formula.

Citing results of a price survey made by the Philippine Rice Information System (PRiSM), the DA said the price of freshly harvested palay in Cagayan Valley and Central Luzon averaged P14 per kg.

The PRiSM survey data also showed that the average farm-gate price of dry palay was at P18 per kg in Central Luzon and P19 per kg in Cagayan Valley. The survey was conducted from September 16 to September 30, according to DA.

Red Cross marks 1-M Covid tests milestone

W

HILE the total number of infections in the country surged to 326,833, the Philippine Red Cross (PRC) has reached another milestone in the fight against Covid-19 after it reported that it exceeded the 1-million mark in tests conducted as of October 6.

“Kapag tayo ay may ambisyon, lahat ay posibleng makamit. Hindi madali ang pinagdadaanan ng ating bansa sa pagsugpo ng Covid-19 kaya’t agarang aksyon ang kailangan upang tayo ay magtagumpay [If have a goal, we can achieve everything. What we are going through is not easy when it comes to the fight against Covid-19; that is why we need to act fast to be able to win].

As we need to keep moving forward, we look back and see how far we’ve come. We never knew we’d make it this far, but in our heart of hearts we knew that the country needs us more than ever. The Philippine Red Cross will always be here doing what is best for our countrymen, especially the most vulnerable members in our society,” Sen. Richard J. Gordon, PRC chairman and CEO, said.

Gordon pointed out that the Philippines, just like other countries, is going through the wringer in the fight against the Covid-19 pandemic but it is determined to win against the unseen enemy with immediate action and collaboration.

“When there were just a handful of laboratories with limited testing capacities, the PRC took up the cudgels and set up Molecular Laboratories in Metro Manila starting with a 4,000 test capacity on April 14 in its National Headquarters, another 4,000 on April 29 in its Logistics and Multipurpose Center, and 4,000 more in the PRC building in Port Area, Manila, in June.

At present, the PRC has 21 laboratories strategically located in 10 areas all over the country, with a total combined capacity of 42,000 tests per day, strategically located in 10 areas all over the country. There are three more under way. laudeth Mocon-Ciriaco

Ambulant vendors kept Sept prices low?

Continued from A1

BPI Lead Economist Emilio S. Neri Jr. said, however, that there could be some vendors who would charge higher than groceries.

Neri said many informal sellers would source their supply from groceries and would offer deliveries to justify giving their wares a higher price tag.

However, the sales of vendors are not inputted in the inflation data, according to the PSA. National Statistician Claire Dennis S. Mapa told BusinessMirror that only fixed outlets in markets are included in their data collection.

“I was informed by the price division that only fixed outlets in markets are part of the sample.

The mobile ones are not part of the outlets for the price collection,” he said.

Mapa said vegetables, meat as well as milk, cheese and eggs were among the biggest contributors to inflation in September 2020.

Data showed vegetables saw prices contract 2.7 percent in September; the increase in meat prices slowed to 2.9 percent; and milk, cheese and eggs, slowed to 2.4 percent.

For the food inflation at the country level, it continued to decelerate to 1.5 percent during the month, from 1.7 percent in August 2020. In September 2019, food inflation was posted at -1.3 percent.

By food group, the indices for rice and corn both exhibited an annual decrease of -0.6 percent during the month. Likewise, the index for vegetables fell further to -2.7 percent during the period.

Inflation for the poor

The PSA said inflation for the poorest 30 percent of the population remained higher than the headline inflation rate for all households. This, Mapa said, has been the case since April this year.

While inflation for all households averaged 2.3 percent in September, inflation for the poorest households reached 2.8 percent in the same month. The increase in commodity prices seen

by the poorest Filipinos averaged 2.6 percent between January and September this year.

Mapa said inflation for the bottom 30 percent was at 2.9 percent in April, higher than the inflation rate for all households at 2.2 percent.

This trend continued until September this year.

“If you note our past inflation reports, there were months when the food [items] posted higher [prices]. Food inflation, as I’ve mentioned, had higher weights in the bottom 30 percent, around 58 percent. So if there are spikes in our food basket, that will lead to higher inflation for the bottom 30 percent,” Mapa said.

However, in September, Mapa said the slowdown in food prices failed to offset the impact of higher housing, water, electricity and gas prices as well as transportation costs on the inflation experienced by the poorest households.

Transport was particularly high in September. In Metro Manila alone, Mapa said, tricycle fares averaged P18.6 in September 2020, a 119-percent increase from the average of P8.50 in September 2019.

Apart from this, ING Bank Manila Senior Economist Nicholas Antonio T. Mapa said in an e-mail that the spike in inflation for the poorest was due to base effects.

With this, he said, the government needs to provide safeguards for vulnerable sectors of society, especially since they also “face a very daunting and challenging labor market.”

“I think the disparity is due to falling prices of nonessentials which are heavy in the basket of the rich. Price of essentials which the poor spend on have been either steady or rising,” Neri added.

PSA’s Mapa and Terosa also expressed concern that given the trend, the country’s poor will likely suffer from higher inflation in the coming months.

Terosa said the higher inflation experienced by the poorest households is also linked to the decline in their incomes caused by joblessness. This will lead to an uphill battle to meet the country’s poverty targets this year.

Urban areas

Earlier, Acting Socioeconomic Planning

Secretary Karl Kendrick T. Chua said the pandemic has significantly affected urban areas such as Metro Manila and Cebu because of the higher number of Covid-19 cases in these areas.

These economic centers experienced longer lockdowns which prevented millions from working and causing them to slip back or fall deeper into poverty.

“Income inequality is expected to rise given the faster loss of market income among poor households and their inability to cushion the impact of the pandemic on their economic wellbeing,” Terosa said.

September prices

In September and in the past three months, inflation in NCR remained at 2.2 percent.

In September 2019, inflation settled to 0.9 percent.

The annual rate of the index for housing, water, electricity, gas and other fuels picked up to 0.6 percent during the month, from -0.2 percent annual decrease in the previous month.

Moreover, higher annual increases were seen in the indices of clothing and footwear (1.2 percent), communication (0.2 percent), and education (0.6 percent) Inflation in AONCR followed the national trend as it slowed further to 2.4 percent in September 2020, from 2.5 percent in the previous month. In September 2019, inflation in the area was recorded at 0.9 percent.

The index of recreation and culture continued its downtrend at an annual rate of -0.7 percent in September 2020; so did Food and nonalcoholic beverages, 1.6 percent; Alcoholic beverages and tobacco, 13.3 percent; Clothing and footwear, 2 percent; and Furnishing, household equipment and routine maintenance of the house, 3.2 percent.

Core inflation, which excludes selected food and energy items, inched up to 3.2 percent in September 2020, from 3.1 percent in the previous month. Core inflation in September 2019 was registered at 2.7 percent.

Companies BusinessMirror

www.businessmirror.com.ph

PSALM launches bid to sell Malaya power plant in Rizal

By Lenie Lectura

T

@llectura

he Power Sector Assets and Liabilities Management Corp.

(PSALM) has commenced the negotiated sale process for the 650-megawatt (MW) Malaya Thermal Power Plant (MTPP) and its underlying land in Pililla, Rizal.

The state firm released an invitation to negotiate and submit offer following its third failed bid attempt last September 24.

“The PSALM Bids and Awards Committee invites interested parties to join the negotiated sale process and thus submit offers for the privatization of the MTPP, and the land underlying the plant,” PSALM said.

From the original MBP offer of P4,481,796,017, PSALM has reduced this to P2,188,400,000 and further

to P2,007,780,000 for the negotiated sale process. An offer lower than the minimum bid price will be rejected outright.

Interested parties must submit a letter of interest not later than October 22.

There will be a pre-negotiation conference scheduled on October 23 before the deadline for the bid submission on November 16.

AC Energy Philippines Inc. (AC Energy) President Eric Francia said

in a text message that the company is “unlikely” to participate this time.

AC Energy and Panasia Energy Inc. (Panasia) have prequalified for the auction but later decided to not participate.

“Given the significant amount of the Reserve Price provided under SBB No. 11 dated September 11, 2020, the purchase of the Assets is not financially viable for Panasia,” Panasia had told PSALM. AC Energy, meanwhile, submitted to PSALM a letter expressing regret that it will not be able to participate.

“In our attempt to meet the Minimum Bid Price, we have factored in all the possible material considerations. Unfortunately, despite the said efforts, we are unable to meet the same."

PSALM already rationalized and lowered the minimum bid price of Malaya in the hope that the bidders would be encouraged to submit their bids.

“It is regrettable that despite the reduced minimum price, still no bidder submitted a bid,” PSALM Presi-

dent and CEO Irene Besido-Garcia had said. “PSALM must exhaust the available legal process to dispose Malaya because we are incurring substantial losses in continuously maintaining it.”

Based on the losses from 2010 to 2019, the average annual net loss of PSALM in maintaining the Malaya facility is P1.207 billion. It was declared a “must run unit” in 2014. The average annual net loss of PSALM if based on the years that it is running as a must run unit (2015 to 2019) is P556.2 million.

As an MRU, it is called by the National Grid Corp. of the Philippines to run and provide security capacity during shortage in electricity supply caused by power plant outages to ensure system reliability of the Luzon grid.

In 2019, PSALM conducted two rounds of bidding for the sale of said assets which were declared "failed" due to lack of interested bidders. It can be noted that PSALM proceeded to a negotiated sale with the lone bidder of the then second round.

DTI, Nestlé to help farmers via RAPID Growth

By Elijah Felice E. Rosales @alyasjah

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he Department of Trade and Industry (DTI) on Tuesday tapped Nestlé Philippines to colead a P4.7 billion program geared toward linking farmers with food manufacturers and generating at least 186,000 jobs in Visayas and Mindanao.

The DTI and Nestlé Philippines signed a memorandum of understanding (MOU) to collaborate in implementing the Rural Agro-enterprise Partnership for Inclusive Development and Growth, or RAPID Growth. The MOU formalized Nestlé Philippines as the anchor firm in rolling out the project.

As anchor firm, the multinational is tasked to provide marketing, tech-

‘Meralco must extend deadline for bills payment’

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ONSUMER groups urged lawmakers to demand from the Manila Electric Co. (Meralco) to extend the October 31 deadline for consumers to settle unpaid bills.

The Power for People Coalition (P4P), Philippine Movement for Climate Justice (PMCJ), the Freedom from Debt Coalition (FDC) and Sanlakas on Tuesday called on House Speaker Alan Peter Cayetano and House Energy Committee Chairman Lord Allan Velasco to take action as the reprieve for Meralco consumers ends soon.

Meralco has set on October 31 the last day of its no-disconnection policy for consumers who were unable to pay their bills incurred during the enhanced community quarantine period.

“We have heard Cayetano and Velasco talk about so many things, but we have yet to hear from them talk about what they will do for the thousands of households unable to pay their massive Meralco bills from the bill shock period.

Despite the hearings, consumers are still waiting for concrete action from Congress.

We ask Congress, as our elected representatives, to make this their priority,” said Gerry Arances, P4P Convenor.

For Meralco’s part, the utility firm assured that it will be “very considerate” to its customers.

“Even after October, which is the deadline that we set, we assure all our customers that we will be very considerate and will always keep in mind their welfare. This includes customers whose bills remain unpaid since the start of the lockdown,” said Meralco spokesman Joe Zaldarriaga in a text message. Lenie Lectura

nical and entrepreneurial interventions to RAPID growth beneficiaries, who are mostly farmers.

Likewise, it is relied on to share its coffee production technologies to increase the productivity of beneficiaries and refine the quality of their beans. Nestlé Philippines is expected to work with the DTI in enhancing support services for coffee planters.

Entered into force last year, RAPID Growth is a program headed by the DTI and financed by the International Fund for Agricultural Development (Ifad).

RAPID Growth is projected to increase the income of farmers in selected regions by tying their production with the demand of food makers. According to Project Head Edwin O. Banquerigo, about 78,000 households in Visayas and Mindanao

should see their earnings go up 60 percent through this partnership.

Banquerigo added RAPID Growth is seen to generate a total of 186,000 jobs, of which 31,000 are direct and 155,000 are indirect.

The project is centered on helping planters of cacao, coffee and coconut, as well as fruits and nuts used in processed food, in seven regions.

Regions covered by RAPID Growth are Eastern Visayas, Caraga, Zamboanga Peninsula, Northern Mindanao, Davao Region, Soccsksargen and Bangsamoro.

In the long run, RAPID Growth is expected to double the sales of some 1,050 micro, small and medium enterprises (MSMEs), as they will be integrated as well—similar to the farmers—in the supply chain with food manufacturers.

Broken down, Ifad will shoulder more than 70 percent of the P4.7 billion cost of the project. The national government, local government units, financial institutions, farmers cooperatives and MSMEs will pay for the remaining cost of RAPID Growth.

Ifad Country Director Alessandro Marini, who served as witness in the signing of the MOU, said the institution has invested a total of $20.4 billion on programs to eradicate poverty in the rural areas since its creation in 1978.

In the Philippines, Ifad has poured in $390 million in 16 projects that reached roughly 1.9 million households in the provinces. At present, its investments in the country stand at $180 million to bankroll five programs, including RAPID Growth.

Velarde Inc. pumps more money into Now for telco venture

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elarde Inc., a vehicle of Now Corp.'s president and CEO Mel Velarde, has injected more money into Now which will be used to bankroll the company's telecom venture.

In its disclosure, Now said Velarde has fully paid its additional subscription to the company equivalent to about a 5.75-percent stake in the listed firm, worth some P289.5 million. The said infusion comes after Now indicated that its telecom affiliate Now Telecom Co. Inc. will go public by way of introduction.

Velarde previously owned a 9.31-percent stake in Now. In its meeting last August, Now's board has approved Velarde's additional subscription of 102 million common shares of the company at a price of P2.25 apiece or about P229.5 million.

It will also subscribe to 60 million redeemable and convertible preferred shares of Now at P1 apiece.

The said preferred shares comes with one free detachable warrant for every preferred share subscribed, exercisable after the second year anniversary. “Proceeds from the placement are intended for the company’s additional equity infusion in its affiliate, Now Telecom Co., Inc., and for other general corporate purpose the details of which shall be disclosed at the appropriate time when the terms and conditions become final,” the company said.

Now said it recently received from the Securities and Exchange Commission the certificate of approval of valuation confirming the valuation of shareholder Velarde Inc.’s advances amount-

ing to P209 million as payment for the additional issuance of 32.15 million common shares worth P22.5 million with a par value of 70 centavos per share. The said shares came out of the unissued portion of the present authorized capital of Now, based on the conversion price of P6.50 per share.

Now Telecom recently appointed Unicapital Inc. as its financial advisor for a planned corporate restructuring as well as issue manager and financial advisor for a planned listing by way of introduction in the Philippine Stock Exchange.

Together with its advisor, Now Telecom is also assessing the suitability of listing its shares on the local bourse or within the region, given its medium-term business plans, the company said. VG Cabuag

BOOSTING TRADE TIES The Philippine Chamber of Commerce and Industry (PCCI), the country's largest business organization, met last Friday with Sri Lankan Ambassador Shobini Gunasekera to explore possible expansion of business, trade and investment relations between the Philippines and Sri Lanka, particularly in agriculture, IT, tourism, services and gemstones. Photo shows PCCI President Ambassador Benedicto Yujuico (3rd from right) handing a gift and token of appreciation to Amb. Gunasekera (center) with PCCI Chairman Emeritus and Director of International Trade Affairs Dr. Francis Chua (3rd from left), PCCI Chairman of the Philippines-USA Business Council and the 46th Philippine Business Conference and Expo Chairman Engr. Enunina Mangio (2nd from right), PCCI Secretary-General Ruben Pascual (2nd from left), PCCI Deputy Secretary-General Edwin Glindro (left), and Sri Lanka Minister/ Head of Chancery Thanuja Dissanayake during the meeting at DoubleDragon 8 Meridian, No. 8 Meridian Avenue cor. Macapagal Blvd. in Pasay City. Contributed Photo

Wednesday, October 7, 2020

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Wednesday, October 7, 2020

Companies BusinessMirror

www.businessmirror.com.ph

‘More LGUs approved permits for cell towers’

O

By Samuel P. Medenilla

@sam_medenilla

ver 1,100 new communication towers will soon be built after the concerned local government units (LGU) issued the necessary clearance and building permit for the structures.

On Monday, the Department of Interior and Local Government (DILG) reported to President Duterte the number of approved permits for such projects has increased to 1,171 compared to last week’s 574.

Interior Secretary Eduardo Año said there are now only 428 applications for similar permits, which are pending with the LGUs. This means LGUs are complying with the order of the President to fast-track the permits for the construction of communication towers or face sanctions, according to Año.

The DILG chief cited the City of Manila under the leadership of Mayor Francisco Moreno for approving all of their pending permits.

“So I hope all the other LGUs will

mutual funds

follow,” Año said.

Government efforts to further speed up the construction of common towers are expected to be boosted by the Bayanihan to Recover as One (Bayanihan 2), which waived all the necessary requirements except building permit and height clearance permit.

“This will go on from last month up to the next three years,” Año said.

He said they will coordinate with the Anti-Red Tape Authority, Department of Trade and Industry and the Department of Information and Communication for the enforcement of Bayanihan 2.

“Telcos [will no longer have a] difficult time in building the towers which we will use,” Año said.

October 6, 2020

NAV One Year Three Year Five Year Y-T-D

per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 195.6 -19.89% -11.94% -4.74% -22.33% ATRAM Alpha Opportunity Fund, Inc. -a 1.0686 -28.97% -13.31% -2.6% -22.68% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.6349 -30.54% -16.17% -6.6% -28.36% Climbs Share Capital Equity Investment Fund Corp. -a 0.6716 -26.38% -12.68% n.a. -25.21% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6754 -17.81% n.a. n.a. -20.48% First Metro Save and Learn Equity Fund,Inc. -a 4.1926 -19.19% -10.29% -4.74% -21.31% First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.6534 -21.27% -12.54% n.a.

-23.45% MBG Equity Investment Fund, Inc. -a 84.78 -26.59% n.a. n.a. -17.87% PAMI Equity Index Fund, Inc. -a 39.1485 -21.21% -10.63% -3.63% -23.66% Philam Strategic Growth Fund, Inc. -a 421.22 -18.73% -9.96% -3.75% -20.94% Philequity Alpha One Fund, Inc. -a,d,5 0.8894 n.a. n.a. n.a. -13.66% Philequity Dividend Yield Fund, Inc. -a 1.0003 -19.89% -10.02% -3.41% -22.27% Philequity Fund, Inc. -a 29.3345 -20.34% -9.68% -2.96% -22.59% Philequity MSCI Philippine Index Fund, Inc. -a 0.7731 -21.39% n.a. n.a. -24.06% Philequity PSE Index Fund Inc. -a 3.9981 -20.77% -10.13% -2.9% -23.46% Philippine Stock Index Fund Corp. -a 668.45 -20.65% -10.07% -3% -23.34% Soldivo Strategic Growth Fund, Inc. -a 0.6076 -30.55% -13.8% -6.85% -28.64% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.0763 -24.8% -11.6% -4.44% -26.91% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.7656 -20.91% -10.35% -3.1% -23.5% United Fund, Inc. -a 2.8009 -21.39% -9.26% -2.65% -23.33% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 89.7367 -20.57% -9.78% -2.23% -23.27% Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b

$1.0495 12.29% -0.53% 3.68% 2.05% Sun Life Prosperity World Voyager Fund, Inc. -a $1.5077 20.05% 7.66% n.a.

9.36% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.5451 -2.57% -5.47% -2.76% -1.13% ATRAM Philippine Balanced Fund, Inc. -a 2.041 -8.29% -5.56% -1.15% -6.42% First Metro Save and Learn Balanced Fund Inc. -a 2.3886 -7.37% -4.27% -2.54% -9.23% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1721 -23.31% n.a. n.a.

-24.68% NCM Mutual Fund of the Phils., Inc. -a 1.8311 -5% -2.16% 0.4% -6.65% PAMI Horizon Fund, Inc. -a 3.4532 -6.67% -3.82% -0.84% -8.86% Philam Fund, Inc. -a 15.4327 -7.01% -3.97% -0.92% -9.01% Solidaritas Fund, Inc. -a 1.9054 -9.04% -4.94% -1.16% -10.21% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.2395 -14.26% -6.16% -2.25% -16.15% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9325 -5.82% n.a. n.a.

-8.19% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.8259 -14.93% n.a. n.a. -17.11% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.8017 -17.1% n.a. n.a. -19.28% Sun Life Prosperity Dynamic Fund, Inc. -a 0.7942 -16.78% -7.4% -3.19% -18.53% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03895 0.88% 2.61% 2.14% 1.96% PAMI Asia Balanced Fund, Inc. -b $1.0332 6.01% 0.28% 3.4% 2.09% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.1376 11.97% 5.47% 6.35% 5.8% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.1608 5.69% 2.84% n.a.

2.84% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 368.65 3.97% 3.08% 2.64% 2.99% ATRAM Corporate Bond Fund, Inc. -a 1.9521 1.81% 0.86% 0.31% 2.63% Cocolife Fixed Income Fund, Inc. -a 3.2025 3.74% 4.76% 4.96% 2.71% Ekklesia Mutual Fund Inc. -a 2.2972 3.87% 2.69% 2.24% 3.32% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4534 4.9% 3.42% 2.04% 4% Philam Bond Fund, Inc. -a 4.6493 7.91% 4.24% 2.83% 6.32% Philam Managed Income Fund, Inc. -a,6 1.3114 5.66% 4.35% 2.46% 4.35% Philequity Peso Bond Fund, Inc. -a 3.9572 5.77% 4.16% 2.35% 4.46% Soldivo Bond Fund, Inc. -a 1.0406 9.24% 3.69% 2.11% 7.91% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.19 5.21% 4.8% 2.99% 3.72% Sun Life Prosperity GS Fund, Inc. -a

1.7507 4.16% 4.17% 2.39% 2.92% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $478.65 2.81% 2.5% 2.8% 2.2% ALFM Euro Bond Fund, Inc. -a Є217.13 -1.46% 0.73% 1.18% -1.21% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2363 3.02% 2.97% 2.62% 2.41% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0264 1.93% 1.83% 1.67% 2.33% PAMI Global Bond Fund, Inc -b $1.0863 -1.5% 0.22% 0.13% -0.67% Philam Dollar Bond Fund, Inc. -a $2.4968 3.31% 3.67% 3.42% 3.88% Philequity Dollar Income Fund Inc. -a $0.0614283 2.01% 2.27% 2.1% 1.87% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1779 -0.08% 1.78% 2.38% 0.09% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 129.21 3.54% 3.32% 2.52% 2.69% First Metro Save and Learn Money Market Fund, Inc. -a 1.0455 2.16% n.a. n.a.

1.87% Sun Life Prosperity Money Market Fund, Inc. -a 1.2911 2.82% 3.02% 2.62% 2.06% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0496 1.59% n.a. n.a.

1.09% Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 1.0074 n.a. n.a. n.a. n.a.

Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $0.94 n.a. n.a. n.a.

-5.05%

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."

www.businessmirror.com.ph

Banking&Finance BusinessMirror

BTr confident will meet 2020 borrowing targets

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he Bureau of the Treasury (BTr) remains confident that it is on track with its borrowing program this year to meet the government’s funding requirements.

On Tuesday, the BTr fully awarded 3-year treasury bonds (T-Bonds) worth P30 billion. The offer received tenders reaching P114.4 billion, more than 3.8-times the offer.

With a remaining term of 2 years and 11 months, the T-bonds fetched an average rate of 2.182 percent, lower than the original coupon rate and secondary market benchmark.

“Following lower September Inflation print and remarks from BSP [Bangko Sentral ng Pilipinas] Governor [Benjamin E.] Diokno, auction saw strong subscription and pushed rates down from secondary levels. With P540 billion advances from [the] BSP, [the] BTr [is] on track with a borrowing program to meet funding requirements,” National Treasurer Rosalia V. De Leon told reporters after the auction yesterday, October 6.

De Leon noted that the current low- and stable inflation environment allowed the BTr to fully award offers and raise funds in the onshore market.

She added that with this, the BTr has opened its tap facility to offer

P15-billion worth of the same tenor.

The tap facility auction was open to all 11 government securities dealersmarket makers.

The T-bonds were originally issued on September 10, 2020 while re-issue date is October 8, 2020. With the re-issue, the BTr said the total outstanding volume for the series now stands at P75 billion.

As of end-August, gross borrowings of the national government have already reached P2.47 trillion, equivalent to more than 80 percent of the all-time high P3-trillion borrowing program set by the Development Budget Coordination Committee (DBCC) for this year.

The government borrows to finance its spending requirements as well as to cover its budget deficit.

As tax collections are down amid lockdown measures against the pandemic, the DBCC is projecting the country’s budget deficit to more than double to 9.6 percent of gross domestic product (GDP), or P1.815 trillion, from only 3.4 percent of GDP, or P660.2 billion, last year.

The DBCC also expects the country’s debt-to-GDP ratio this year to increase to 53.91 percent of GDP—a level it hasn’t seen in over a decade— from a record-low of 39.6 percent of GDP last year. Cai U. Ordinario

Credit-card holders urged to maintain good standing

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redit-card holders are urged to maintain a good credit standing even during the community quarantine to ensure financing after the economic and health crisis.

The Credit Card Association of the Philippines (CCAP) said in a statement on Tuesday that some clients may need their credit cards to have additional funding sources as they return to their usual lives after government orders easing of restrictions.

In addition, credit cards can also be used for potential emergencies in the future, it said.

CCAP Executive Director Alex G. Ilagan said that clients could maintain good credit standing by paying bills on time.

“They should also avoid maxing out their credit limits because it will reduce their credit score,” Ilagan said.

He added that credit-card holders can avail of forbearance programs extended by issuers should users need relief. This is in addition to the 60day grace period on debt payments provided by Republic Act 11494.

“Credit card customers can avail of these forbearance programs to help them repay their credit card debts through easy and flexible repayment schemes,” he said.

The industry group noted that borrowers have been having a hard time meeting their payment deadlines amid the ongoing crisis. This, as credit card usage declined by 27 percent in the first half this year compared to the same period in 2019.

“The high unemployment rate, as well as the loss of livelihood for self-employed individuals and small business owners took its toll on the credit card industry,” he said. “We saw an unprecedented rise of creditcard holders being unable to pay their balance, which resulted in the credit card past due level growing by as

much as thrice by September 2020 as compared to the pre-ECQ [enhanced community quarantine] level.”

With unpaid debts rising, Ilagan observed that banks were forced to earmark higher provisioning against potential credit loss.

Data from Bangko Sentral ng Pilipinas (BSP) shows that the banking sector’s allowance for bad debts stood at P322.09 billion as of July, which is higher than last year’s P202.22 billion for the same period.

Ilagan said that the industry has been exerting efforts to survive during a pandemic, including using digital platforms to cut costs.

As credit card issuers push for a shift to electronic billing statements, CCAP noted that enrollment has reached 75 percent.

Going digital means that the credit-card bills can be delivered in a timely fashion even during a pandemic, it added.

Recently, the Monetary Board greenlighted setting the annual interest rate ceiling on all credit card transactions at 24 percent. This policy will be effective on November 3.

The BSP said that the interest rates or finance charges on unpaid outstanding credit card balance should only be 2 percent or lower monthly.

The maximum rates are subject to review by the Central Bank every six months.

“Financial discipline is important, and credit cards should be viewed as a tool for convenience in making payments and a readily available standby line of credit for emergency or big purchases,” Ilagan said.

As of end-July, the outstanding credit-card loans provided by big banks for household consumption amounted to P409.05 billion, 27-percent higher than P321.06 billion year-on-year. Tyrone Jasper C. Piad

Wednesday, October 7, 2020 B3

DOF to fund managers: Craft shared cyber-defense policy

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By Cai U. Ordinario

@caiordinario

he Department of Finance (DOF) ordered government financial institutions (GFIs) and other fund managers to craft a shared cyber-defense strategy to thwart threats and data breaches.

In a statement, Finance Secretary Carlos Dominguez III said GFIs, state-run pension fund and insurance agencies, and the revenue and treasury agencies should enter into their respective memoranda of agreement (MOAs) on a shared cyber defense strategy.

Dominguez said he has also ordered the creation of a working group composed of representatives from these agencies to work on identifying

the potential cybersecurity threats and cases of cyber fraud that they may encounter and determining ways of eliminating or mitigating these risks.

“We are keen on institutionalizing this cybersecurity program. As the administration fast-tracks its digital transformation initiatives to meet the challenges of the emerging ‘New Economy,’ we must also see to it that we have the capacity

to defend our critical systems from cyber-attacks from third parties and other possible hazards,” the DOF chief said.

Dominguez said the government is taking a prudent approach to protecting the country’s financial “infostructure,” “especially at this time when the digital space has become vulnerable to a wide range of sophisticated cyber-attacks and threats.”

He added that the government may also tap the expertise of the private sector in coming up with the strategy that would cover state institutions and agencies under the DOF. “Investing in cyber-security is not only a crucial national security concern, but is also indispensable to protecting sensitive citizen information stored in the systems of our GFIs and other state-run institutions,” Dominguez said.

“We are serious in protecting our national interests and ensuring the safety of citizen information so we

are taking steps to heighten our digital protection strategies,” he added.

Dominguez said the MOAs among the institutions and agencies involved in this cyber-security plan will be done in segments. GFIs such as the Land Bank of the Philippines, United Coconut Planters’ Bank and the Development Bank of the Philippines will comprise one segment.

Insurance fund agencies and the revenue bureaus under the DOF will be under the two other segments.

Each segmented group will adopt a “shared defense strategy” to make the cybersecurity program cost-effective, Dominguez said.

“The issues and concerns of each sector are similar, so it makes sense that the cost burden of these investments will be equally borne by the group,” Dominguez said.

To note, the DOF has been allocated a lower budget of P17.476 billion for next year, a 12.51-percent decline from this year’s budget of P19.974 billion.

Analyst: Hiring a new bank CEO rarely improves the share price

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f history is any guide, shareholders in Europe’s beleaguered banks shouldn’t place their hopes for revival in new chief executive officers (CEOs).

Lenders in the post-financial crisis era have underperformed rivals in the years following the hiring of a new CEO, according to Berenberg analyst Andrew Lowe.

“Underlying economics remain the key driver of success,” Lowe wrote. “We conclude that turning around an underperforming bank is tough and that it generally pays to back proven winners.”

With management turnover already at historic levels among the continent’s lenders, the research may dampen investors’ hopes that such moves will result in better performance.

Turnover was last this high in 2015, when a flurry of management changes pushed through costly overhauls across the continent. European bank stocks have lost more than half their value since then. Now the sector is gearing up for more changes.

Firms including Credit Suisse Group AG, HSBC Holdings Plc and ABN Amro NV have all replaced their chiefs in the past year. Ralph Hamers is set to become CEO of Zurichbased UBS Group AG next month.

Natixis SA ousted Francois Riahi in August and replaced him with Nicolas Manias.

More may be coming. Standard

An analyst says new CEOs have done little to boost Europe bank stocks.

Chartered Plc has informally approached executives to gauge their interest in replacing boss Bill Winters, Bloomberg reported earlier this year. A search is under way at SocGen for a successor to Frederic Oudea, the longest-serving European bank CEO. Luring a new CEO seemed a smart

move before the financial crisis. During that era, Lowe wrote, European banks outperformed their rivals by more than 12 percent in the two years following a new hire.

The crash ushered in a wave of new regulations and probes, however. This upended many European

banks’ business models and left them saddled with piles of bad loans, costly derivatives and soaring compliance costs. Lenders that hired a new CEO from 2014 onwards underperformed their rivals by 0.4 percent in the two years that followed, according to Lowe.

SSS warns members, pensioners against online fixers

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he Social Security System (SSS) warns its members the pension fund manager is not affiliated with any social media accounts and pages offering online assistance to its members and pensioners asking for certain fees in exchange for facilitating transactions such as creating an SSS account, filing of benefits and facilitating for the immediate release of loan applications, early release of retirement benefits and the like.

Members must be vigilant in protecting their SSS accounts from these unscrupulous individuals and ensure that all online applications and transactions are to be made only through their My.SSS online accounts, which can be accessed via the SSS official website at sss.gov.ph and SSS Mobile App, the agency said.

“SSS warns online fixers that they will be held criminally and civilly liable from extracting confidential

information and from demanding money from SSS members and pensioners.”

The SSS added “these malicious acts violate Section 17 of Republic Act 11199 and is punishable by a fine up to P5,000 or imprisonment for not less than six months up to one year or both depending on the decision of the court.”

“In addition, members and pensioners are also reminded that the use of online fixers is a violation of

the Republic Act 11032 or the Ease of Doing Business and Efficient Government Service Delivery Act of 2018,” the SSS added.

The SSS urges members to report the suspected commission of online fraud and activities of online fixers, members and pensioners by sending an e-mail to its Special Investigation Department at fid@sss.gov.ph. They can also send a direct message to any of the SSS’s social media accounts, the agency added.

UnionBank doubles size of 3-year-old medium-term note program to $2 billion

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earing up to tap the bond market anew, Union Bank of the Philippines announced on Tuesday that it has doubled the size of its medium-term note program to $2 billion.

The program was launched with an original size of $1 billion in November 2017.

Of this amount, the Aboitiz-led bank in the same year drew out

$500 million when it launched its 3.369-percent senior notes offering due in November 2022. The proceeds were allocated to refinance the bank’s existing obligations, increase its funding source and finance other general corporate matters.

With the updated program, UnionBank said it may issue, offer and sell the remaining balance of the notes of up to $1.5 billion.

“The notes shall be issued in such form, amount, currency, tenor, number of tranches, at such interest rate, and under such other terms and conditions as the Bank may subsequently determine or approve,” the bank said in a disclosure.

UnionBank said it will be providing updates regarding its future issuance.

In February, the listed bank raised

P6.8 billion from the issuance of series A unsecured subordinated notes which are eligible as Tier 2 capital. This amount is 36 percent higher than the original issue size of P5 billion.

The 10.25-year notes are callable in 5.25 years beginning May 24, 2025. It bears an interest rate of 5.25 percent annually and will mature on May 24, 2030.

The issuance came from the P20billion worth of Tier 2 notes program approved by the Bangko Sentral ng Pilipinas in December 2019.

UnionBank saw its net profits slide by 6 percent to P4.5 billion in the first half from P4.79 billion in the comparable period last year.

This translated to a return on equity of 9.2 percent for the period, which was lower than last year’s

11.1 percent.

Meanwhile, first semester revenues jumped by 55 percent to P22.1 billion year-on-year on the back of improved net interest income and higher trading gains.

UnionBank shares slid by 5 centavos, or 0.09 percent, to close at P54.20 each amid the 0.48-percent dip for the benchmark index on Tuesday. Tyrone Jasper C. Piad

B4

Show BusinessMirror

Wednesday, October 7, 2020 • Editor: Gerard S. Ramos

FRIEND IN NEED

SO it’s true that the actor and this sexy starlet were once an item. This was during the time when the actor was in a popular love team but was seeing a non-showbiz girl in real life. The actor and the starlet started out as “friends with benefits” but this soon progressed to something else. The guy reportedly wanted to take the relationship to another level but he was afraid his fans would hate the starlet, who was then in a relationship anyway. They have remained friends.

With the pandemic, the starlet has found herself in dire financial straits so she decided to ask the actor for a loan. The actor was willing but only for a fraction of the amount that the starlet was asking for. The actor said he also did not have a lot of work because of the pandemic so he can’t afford to be as generous as he was before.

HER LOSS

THE starlet has lost more than just a coveted role. Not too long ago, the starlet was in a relationship with a male actor. The starlet ended the relationship in favor of career advancement. The actor was heartbroken for a while until he met a beautiful girl who was so into him. He was still in love with the starlet. But as they say, time heals all wounds and pretty soon, the actor started liking the girl. They’re now very happy together. However, the starlet soon found herself out of a role with no other opportunities in sight. She has tried getting back with her ex but he doesn’t want her anymore and he will never forget that she dumped him for a role. So what’s ahead for the starlet? We heard she was trying to get signed by an agency she once belonged to.

SEXY AND NICE

THE rights to a superhero franchise belongs to a certain network but we heard that another network is interested in it.

We’re not sure how they plan to acquire it. The plan is when the network gets the franchise, they will cast another star in it.

One of those they are eyeing is an underrated sexy starlet who has quite a following online. The starlet is also a fan favorite because she has a great body and is very pleasant and friendly person. She is also someone who’s easy to work with so everyone likes her. You’d find very few people who hate this starlet because she is a nice person and she works hard.

WHAT TO DO WITH HIM?

FIRST, the young actor’s screen partner was revealed to be seeing another man on the side. His studio promptly found a replacement for her. But the second screen partner was in a relationship and pretty soon, she was rumored to be in an interesting stage. Now comes his studio’s dilemma: What to do with the young actor’s career? The thing with the actor is while he is good-looking and talented, he is quite boring. He really has nothing to bring to the table except his looks. Some of those who have interviewed him have remarked that he has no personality at all and just sits there throughout interviews.

Tan Roncal works hard to hone his craft, wishes to become a versatile actor

P

By Leony Garcia

INOY Big Brother Otso Housemate Christian “Tan” Roncal stays thankful and positive despite ABS-CBN franchise renewal controversy. And instead of feeling bad about the pandemic we are facing now, he decided to focus on things that would enhance his body and stay healthy at the same time.

“I did exercises and workout everyday during lockdown dahil tumaba ako nang sobra. Somehow, I achieved the body that I wanted. Right now, my focus is on my studies and shooting during weekends,” Tan said. The 16-year-old Filipino-Dutch actor-model gained a lot of fans when he joined and became one of the finalists of the ABS-CBN reality show Pinoy Big Brother Otso (PBB8).

He said he never expected to be so blessed in life until the reality show, and he is thankful for all the opportunities coming his way: “Sobrang happy po kasi last year parang low-key pa ako. Pero ngayon parang medyo better na. Kaya naman happy ako.”

The looker, coupled with his talent and determination, really deserves a place in showbiz.

His mestizo features definitely stand out in a crowd.

Needless to say, he got his spunky persona and good genes from his Filipina mom and Dutch father.

He always considered himself a happy little boy—until his parents separated when he was three.

Since then, growing up in a broken family became a struggle for Tan. “I had insecurities about my family kasi nga hindi kami buo. In my mind, I envied others for having solid families. And I felt really sad during family days in school. Minsan si Daddy lang pupunta, minsan naman si Mama, pero never naging buo kami as a family.”

Although Tan said that his parents still made the effort to keep the family, both have moved on with their lives.

For Tan’s part, instead of wallowing in self-pity and sadness, the newbie made his family as his inspiration to succeed in life.

“May mga financial problems kami, hindi ko po ikinahihiya iyon. ’Yun po ’yung tumatak sa akin, so dun po ako naging mas mature at hindi ako naging pasaway.”

The family’s financial struggles led the young actor—the third child in a brood of five—to take on the role of father figure and become the breadwinner in the family. Tan said that he doesn’t mind doing

It is okay not to be okay Continued from B5 how you can manage its effects on you.

A common misconception is that when people forgive, they forget that there are consequences to the transgressor’s actions. People think when they ask for forgiveness, everything wrong they have done will also disappear. It does not. Toxic positive people will tell you to forgive and act as if everything is back to normal.

Forgiveness and consequences of actions are different. You forgive for your own peace of mind.

But you should also be wise to understand the consequences of a person’s actions so you do not commit the same mistakes again. Also, understand

www.businessmirror.com.ph

that forgiveness does not always mean restoring the relationship. It can mean you accepted where they were coming from but you have decided to pursue another course with or without them.

In an age where communication channels are exponentially expanding because of new and emerging technologies, our tendency is to shoot for short, canned responses rather than genuine conversations.

So instead of saying “everything will work out in the end” or “everything happens for a reason,” why don’t we say, “I am here to listen and help you get through this.” As we celebrate mental awareness month, let us go out of our way to talk to others and let them know they are not alone. n

Today’s Horoscope

By Eugenia Last

z

CELEBRITIES BORN ON THIS DAY: Shawn Ashmore, 41; Toni Braxton, 53; Simon Cowell, 61; Joy Behar, 78.

Happy Birthday: Explore and learn; expand your mind, interests and friendships. Connect with people who share your goals. Detail and precision, along with agility and speed, will help you gain respect and self-satisfaction. Personal growth will lead to a lifestyle adjustment that encourages you to push for the truth, exercise your rights and build a solid base to support your accomplishments. Your numbers are 9, 15, 21, 29, 33, 38, 40.

a

ARIES (March 21-April 19): Don’t let frustration get you down. Take care of your responsibilities, and move on to something physically or mentally stimulating. Consider your interests, research new possibilities and focus on achieving your goals.

Refuse to let an outsider meddle in your business. HHH

b

TAURUS (April 20-May 20): Check motives before you get involved in a joint venture.

You’ll face less opposition if you do your own thing. Make personal changes that will change the way you socialize or interact with others. Romance is featured. HHH

c

GEMINI (May 21-June 20): Don’t let your emotions interfere with what you have to get done. A positive attitude will help you summon the support you require to finish what you start. Take better care of your health and pending domestic problems. HHH

d

CANCER (June 21-July 22): You may not receive all the information you require to make the right decision. Ask questions, bide your time and don’t be afraid to make a last-minute change if you have doubts. Personal improvements will pay off, and romance is favored. HHH

e

LEO (July 23-Aug. 22): Say less and do more. Your actions will make a difference.

A passionate approach to work will lead to progress and eliminate any doubts someone has in your ability. Don’t let the changes someone makes stand in your way. HHHH

f

VIRGO (Aug. 23-Sept. 22): Let technology help you get things done. Set up meetings, and voice your opinion. How you conduct business will impress someone who can help you get ahead. Valuable information that will help you improve your direction and lifestyle will come your way. HH

TAN RONCAL

the sacrifices for his siblings because they are all responsible and smart.

“Ako rin ang nag-aalaga sa mga kapatid ko ’pag wala si Mama. OK lang po sa akin. Gusto ko ring alagaan ang mga kapatid ko. Iyon ’yung parang purpose ko siguro,” he stressed. Tan considered his two acting forays in MMK as sure steps forward to many roles to come.

Tan is doing a TVDG Pilikula Spotlight with then PBB8 partner Ashley del Mundo.

“I’m so excited to be working with Ashley on this project produced by ABS-CBN TVDG and Starhunt.

Sobrang bago sa experience at sobrang saya na nabigyan kami nang pagkakataon ni Ash na muling magkasama.”

If ABS-CBN prized talents Kathryn Bernardo and Daniel Padilla have active, supportive Kathniel fans, the young love team have the AshTan fanatics. And Tan is extremely lucky to have loyal fans this early to support him all the way.

When asked what is his take on the pandemic’s popular BL (Boys Love) series which has been trending in social media, like the Thai’s 2Gether and the digital online series Hello Stranger headed by Tony Labrusca and JC Alcantara, Tan said he has not seen one yet. But he said he is most willing to star in one should an offer comes his way.

“Sabi ko po sa sarili ko nung nag-audtion pa lang ako sa PBB gusto ko pong maka-experience gumanap bilang third gender kasi sa panahon ngayon, nakikita ko pong sobrang daming bagay na dapat malaman or ma-realize ng mga tao tungkol sa kanila. I believe love has so much to offer and love doesn’t have any restrictions. So if ever mabibigyan po ako ng chance na gumanap sa mga BL series, I would definitely accept it as it would also give a new dimension in my career.” n

g

LIBRA (Sept. 23-Oct. 22): Hop on the information highway and research something that interests you. The outcome will be an innovative idea that will help you get ahead. A change to the way you handle money or the direction you decide to pursue looks promising. HHHHH

h

SCORPIO (Oct. 23-Nov. 21): Strive to achieve your goal. Stay within budget, even if someone tries to persuade you to spend more. The change you make personally will have a positive impact on your state of mind. HHH

i

SAGITTARIUS (Nov. 22-Dec. 21): Too many options will confuse you. Take a moment to digest your options and consider the long-term effects. Don’t leave anything to chance or count on someone for help. HHH

j

CAPRICORN (Dec. 22-Jan. 19): Someone will put up a fuss or question your motives. Use charm and offer incentives if you want to make changes without interference. A personal goal you set will change the way you work and live. HHH

k

AQUARIUS (Jan. 20-Feb. 18): Take pride in what you do. Fix up your surroundings to accommodate something you want to pursue.

A personal change you make will boost your confidence and fetch compliments. Physical action will bring good results; talks will lead to empty promises. HHHHH

l

PISCES (Feb. 19-March 20): Mull over what you’ve accomplished, and proceed to make positive changes to the way you live, work and handle your money. Don’t let the emotional decisions you make lead to a regrettable mistake. HH Birthday Baby: You are playful, energetic and thoughtful.

You are intuitive and intelligent.

‘last movement’ by frank virzi The Universal Crossword/Edited by David Steinberg

ACROSS 1 Jalisco home 5 Where a pig roots 8 Like a rascally grin 14 Unpleasant smell 15 Commit perjury 16 Singer King 17 Group founded by Clara Barton 19 2017 film about a figure skater 20 Greeting accompanied by a 24-Across, perhaps 21 Jay Leno’s Garage network 23 Wedding cake layer 24 See 20-Across 25 K-12 overseers 28 “Well, looky there!”

29 Furnace output 30 Situated on 33 Like hanging up on someone 36 Perry of Gone Girl 40 “I need time alone” 43 Certain Arabian Peninsula resident 44 Person logging in 45 Swelled heads 46 Munich mister 48 Part of FWIW

0 The Black Swan star, 1942 5 55 “___ be there!”

58 Hanauma Bay’s Hawaiian island 59 Arthur who wrote A Hard Road to Glory 60 Low-stress course 62 Elite rosters of guests 64 Retreat, as from a position...or a hint to what can follow the end of each starred answer 66 Money, informally 67 Octogenarian celebrity Yoko 68 Kind of package 69 Welcomes, as a guest 70 Boston-to-Austin dir.

71 Mark from battle DOWN 1 Pink shade 2 “25” singer 3 “Me too” 4 St. Louis landmark 5 ___-mo 6 Former CBS chief Laurence 7 Kind of question 8 One hangs on a house 9 Yoga surface

0 Test models 1 11 Pythagoras’ Greek region 12 More wily 13 Got wind of 18 Too hasty 22 Puccini’s La ___ 26 Abs’ region 27 They hang in caves 28 Realty events 30 In the past 31 “Tiny” son of Bob Cratchit 32 Egg cells 34 Assumes by force 35 Uno + uno 37 Zoom annoyance 38 Energy-saving mode in some cars 39 Low-___ image 41 Word heard in “demeanor” 42 Tribe that lived by a Great Lake 47 Rhyme partner 49 Arduous journey 50 Bumpy amphibians 51 Ivy Leaguer who may visit Connecticut Hall 52 Bonn’s river 53 “That’s amazing!”

4 Moves to solid food 5 55 Oscar of Inside Llewyn Davis 56 Tights material 57 LeBron James, for one 61 The basics 63 Part of TNT 65 Burner setting

Solution to yesterday’s puzzle:

Image BusinessMirror

www.businessmirror.com.ph

DR. rey dela cruz

Editor: Gerard S. Ramos

• Wednesday, October 7, 2020

B5

It is okay not to be okay

Dr. Monina Movido-Escalada

Six UPCMC alumni named 2020 Glory awardees

TWO journalists, an arts community advocate, a development communicator, an education innovator, and a producer-writer of hit television shows are this year’s six outstanding alumni of the University of the Philippines College of Mass Communication (UPCMC) who will receive the coveted Glory award.

The “Glory” honors UPCMC alumni who did not only consistently produce excellent work but also made an impact in mass communication and society. Selected by a jury of their peers, the 2020 Glory awardees are Karen Davila (broadcast journalism), Dr. Rey dela Cruz (special education), Deo Endrinal (television arts), Dr. Monina Movido-Escalada (development communication), Lutgardo Labad (arts and culture advocacy), and Criselda Yabes (literary journalism).

UPCMC Alumni Association President Malou Choa Fagar announced that due to the continuing public health crisis, the Glory awards presentation on November 14 will take place in a virtual environment.

The Glory Awards were inspired by the legacy of honor and excellence of Dr. Gloria Feliciano, the founding dean of UP mass communication programs who served from 1965 to 1985. UPCMC produced some of the best practitioners in broadcasting, film, journalism, and communication research in the past 55 years.

Many alumni also shone in allied fields like marketing communication, social advocacy, public relations, and the performing arts.

The seven distinguished jurors of the 2020 Glory Awards were UPCMC dean and film professor Dr. Arminda Santiago; UPCMC communication research department chairman Dr. Julienne Thesa Baldo-Cubelo; PR expert and former UP vice president for public affairs Tessa Jazmines; broadcast news veteran Jose “Jing” Magsaysay, who also represents the family of Dean Feliciano; writer-director and 2019 Glory awardee Floy Quintos; noted film and TV director, writer and educator Jose Javier Reyes; and 2018 Glory awardee Luz Rimban, executive director of the Asian Center for Journalism at the Ateneo de Manila University.

W

HILE waiting for a conference call to start, a colleague told me about her cat who recently died. There was a time when I would say it was OK and just to get another cat, but I felt what she felt (having several cats myself) and just listened to her tell her story.

There was a time I would look at the world through rose-stained glasses but life events have taught me otherwise. And there are many people who think that just by thinking positively, problems will go away— this is toxic positivity. You can see it in some of the politicians who sugarcoat and downplay the effects of the pandemic, or the overabundance of sickeningly saccharine platitudes to stay happy and be positive.

This can be insensitive and somehow invalidates other people’s challenges as they struggle to put their lives back together. While being optimistic can help people manage their feelings of despair, it can also take a toll on their mental health.

Dr. Jaime Zuckerman, a clinical psychologist from Pennsylvania, explains that “toxic positivity is the assumption, either by one’s self or others, that despite a person’s emotional pain or difficult situation, they should only have a positive mindset or—my pet peeve term—‘positive vibes.’” This is especially dangerous when you downplay the overall effect of toxic positivity by pretending that everything is okay just by always looking at the positive side of life. Not that looking at the positive is wrong but it becomes unhealthy when looking on the bright side blinds you from the harsh realities of life.

One of the dangers of toxic positivity is invalidating negative emotions. In David Seamands’ book Healing for Damaged Emotions, he explains that one of the ways to effectively deal with negative emotions and move on from a painful past is to address the problem rather than sweeping it under

In an age where communication channels are exponentially expanding because of new and emerging technologies, our tendency is to shoot for short, canned responses rather than genuine conversations. So instead of saying “everything will work out in the end” or “everything happens for a reason,” why don’t we say, “I am here to listen and help you get through this.” As we celebrate mental awareness month, let us go out of our way to talk to others and let them know they are not alone. the rug. This book was helpful to me when I was struggling with personal issues back in college. One of my mentors at the time recommended the book and it helped me appreciate the value of negative emotions in understanding myself and others.

Repressed emotions tend to blow out of proportion when triggered by a life event. This happened to me and my siblings when we were forced to stop going to school and then exiled to a farm so we can appreciate “hard work and sacrifice”—the words of my father. In a time when mobile phones were still an idea, I was cut off from everything and everyone I knew. What helped me cope with everything that happened was acknowledging that everything was happening, then focusing instead on what I could do so I would survive it. The first weeks were the hardest but with the help of new friends and a supportive and discerning uncle, I was able to come out of it wiser and more determined to make a better life for myself.

Toxic positivity is different from people who are naturally optimistic. There are people who naturally see the brighter side of life and will take on life’s challenges as opportunities for growth. But not all of them can maintain that disposition at all times and obviously, not all people think the same way.

You also need to understand that toxic positivity can take many forms, like a well-meaning friend who says “everything is going to be OK,” or the socialmedia friend who always replies to your problems with a positive quote, or it can even be you telling

yourself to dismiss your feelings of disappointment, guilt, fear, or anger.

Toxic positivity is evident when you deny or repress what you feel because you think it is wrong to feel that way. It is also evident when you acknowledge your emotions but you feel guilty for feeling that way.

You also manifest toxic positivity when you ignore what others feel by telling them they should not feel that way because it is not good, or bombarding them with feel good quotes and canned responses in the mistaken belief that it will make them feel better. For a time maybe, but it will not help them resolve the root cause of their issues.

Oversimplifying emotions into categories of positive and negative is also not helpful. Instead, think of emotions as guides so you can assess what you are experiencing. If you feel nervous about a job interview, maybe you are concerned that your qualifications are not enough to merit the position. If you feel enraged with a friend for being overly critical of your life decisions and you decided to cut them off, perhaps it means you have always thought that they were not good friends after all. If you decide to be with the person you are happy with, maybe it means you finally found the right person who can make you feel content and satisfied. When you look at emotions as guides rather than right or wrong, it becomes easier for you to work through what you are feeling and

Continued on B4

Mall giant goes bike-friendly Cycling advocates and enthusiasts from the government, diplomatic corps, and biking organizations recently gathered together for the launch of SM Supermalls’ Bike-Friendly MOA initiative. Through SM Cares, the mall giant has created bike-friendly infrastructure and facilities for a safe, convenient and enjoyable experience for the growing number of bike commuters and enthusiasts. These include bike lanes, bikecentric road signs, enhanced bike parking, repair stands, a helmet depository, and vendo machines carrying bike supplies and refreshments.

SM Engineering, Design and Development President Hans Sy Jr., who conceptualized and spearheads the projects, welcomed guests to the launch, which included a ceremonial ride around the MOA complex’s new bike lanes and a tour of the facilities.

Cabinet Secretary Karlo Nograles, cycling enthusiast and co-author of House Bill 174 or the Bicycle Law in 2016, which seeks to create bicycle lanes and bikeways on all main roads and highways, and a Local Bikeways Office in cities and municipalities, was seen enjoying the new dedicated bike lane along J.W. Diokno Boulevard and enthused over the stretch of bike lanes in the complex, which spans 18 kilometers.

“This is a great initiative,” he enthused.

“SM is in the forefront, leading the way with this pioneering private initiative for biking. I’m very happy that SM is going into this whole information, education and awareness campaign. Because again, information is key. Without information, we won’t know what the rules and protocols are.

So, kudos to SM and SM Cares.”

Ambassadors from the world’s cycling capitals, H.E. Grete Sillasen of Denmark and H.E. Saskia de Lang of the Netherlands, also came to support the launch of BikeFriendly MOA. Biking, which is a way of life for the Danes

❶

❶ SM

Engineering, Design and Development President Hans Sy Jr. and Cabinet Secretary Karlo Nograles beside the Mall of Asia’s new street-level bike parking racks.

❷ Danish

Ambassador Grete Sillasen (left) says that “biking is a way of life for a Dane. We learn to bike as soon we can walk, and it stays with us for the rest of our lives.” Ambassador Sillasen is seen trying out the MOA Complex’s new bike lanes with Firefly Brigade’s Jack Yabut.

At the Bike-Friendly MOA launch Cabinet Secretary Karlo Nograles (second from right), the ambassadors from two of the world’s most bicycle-friendly countries, Grete Sillasen of Denmark (second from left) and Saskia de Lang of the Netherlands (center); and Pasay City Mayor Imelda Calixto-Rubiano (right). They are joined by SM Engineering, Design and Development President Hans Sy Jr. and the Dutch, is a healthy and environment-friendly means of transportation, and both ambassadors highlighted the importance of embracing a cycling culture.

Ambassador Sillasen urged everyone to get into biking because it is sustainable, healthy, smart and fun. She added, “There are many factors that can improve the biking culture, and private initiative is one.”

Ambassador de Lang described how cycling is part of everyday life in the Netherlands, and “supporting a cycling culture is important because it contributes to a healthy life, and currently to safe transport.” She was “impressed by SM’s commitment to start here at MOA and expand to other supermarkets and malls in the country.”

Biking advocacy groups also expressed their support for SM’s initiative. Jack Yabut, trustee of the Firefly Brigade, the country’s pioneering cycling advocacy group, said the facilities are “really very timely and set a good example.”

Keisha Mayuga, founder of Life Cycles PH, said, “I think it’s a really great start, as it’s something the biking community has been asking for. We hope to see more of that in other malls in other cities.”

The Bike-Friendly MOA initiative is part of a comprehensive plan to make communities where SM malls are located more inclusive, livable and sustainable, and will be implemented in stages across all SM Malls nationwide in the coming months.

❷

B6 Wednesday, October 7, 2020

Mondelēz International celebrates Second Annual Purpose Day

Globe advocates for quality education, helps provide sustainable digital environment

A

S learning shifts to virtual classrooms, there is also a rush to transition teachers, students, parents, and even out-of-school youth to this digital environment. However, despite government efforts to quickly respond to pressing needs for blended and remote education, the work to be done is so massive that it requires the combined efforts of various sectors of society.

Globe, being a strong advocate of quality education, is also doing its part to make the government’s task a little easier. From providing connectivity, holding webinars, and creating learning modules, Globe is lending its resources to inspire those from the education community to deliver quality education even from a distance.

Starting with its Global Filipino Teachers (GFT) program which was first introduced over a decade ago, Globe made several modifications to its teacher training workshops to make them more responsive to current needs. In partnership with the Department of Education (DepEd) and in collaboration with Habi Education Labs, Teach for the Philippines and the Philippine Mental Health Association, Globe is extending learning modules to directly address teacher training needs for the upcoming school year.

The learning modules which are recognized by the National Educators Academy of the Philippines (NEAP), the teacher training arm of DepEd, cover tech literacy, blended learning, 21st century learning approaches, early childhood literacy, and mental wellness.

They are currently being shared through webinars, panel discussions and indigital training sessions.

Since learning does not end in the classroom, Globe makes its eLibrary (https://globeelibrary.ph/) readily accessible to K-to-12 students where they can have free and quick access to hundreds of age-appropriate and

engaging ebooks and videos provided by DepEd and other sources.

In partnership with key schools, universities and companies, Globe empowers and enables educational institutions such as De La Salle University and Mano Amiga to develop their Science, Technology, Engineering and Mathematics (STEM) track with relevant tools and content. The program also aims to deliver certifications through Globe University and key partners.

Globe has also provided connectivity and communications assistance to the Philippine Business Education (PBed) and the Foundation for Professional Training Inc. (FPTI). The support was through prepaid SIM cards and load cards which 600 trainees under PBEd’s YouthWorks PH Program and 160 scholars under FPTI’s Lifelong Development for Women Program can use to connect to the internet for three and six months, respectively, to access relevant digital tools and content.

Providing productivity tools and connectivity

TO support distance learning, Globe sent pre-owned laptops to various public schools in the provinces to help disadvantaged teachers and students who have no access to a computer. It also assists schools and universities with prepaid WiFi kits, SchoolSURF lineup of internet promos specifically designed for students and instructors, and a customizable suite of apps to aid the learning process.

Globe continues to work with corporations, nationwide institutions, and local government units through its enterprise division Globe Business which recently provided 11,000 LTE pocket mobile WiFi devices to the City of Manila for its public school teachers, as well as free connectivity solutions via BatangMaynilaSurf Plans. Globe also

partnered with PHINMA Education, a fast-growing network of schools in Southeast Asia, to propel its FlexLearning@PHINMAEd program, enabling students to maximize mobile data and making the internet highly accessible for those from underserved communities.

Globe is a strong advocate of quality education which is one of the 10 United Nations Sustainable Development Goals that the company has committed to support. For more information about Globe sustainability efforts, visit: https:// www.globe.com.ph/about-us/sustainability. html#gref, XMA Header Image, Globe eLibrary, globeelibrary.ph

Foodpanda expands, prepares to see more delivery riders in pink across the country

O

N-DEMAND food delivery service, foodpanda, announced its expansion to more cities in the Philippines, solidifying the brand’s position as the biggest online food and groceries delivery service in the country. Among the new places where foodpanda is now available are Malolos, Dasmarinas, Iligan, Legazpi, Cabanatuan, Dagupan, Olongapo, Novaliches and Batangas.

Foodpanda has been constantly growing, as people turn to delivery apps during these challenging times.

The expansion to new cities reflects its commitment to serving more Filipinos with unparalleled delivery service. Foodpanda delivers dishes from a range of global and local cuisines as well as grocery items to your doorstep. It is founded on the “three Cs” of food delivery service, simplifying life for its customers.

Choices. Foodpanda gets your food so you don’t have to. You can stay at home and remain focused on attending to work

or family duties without having to worry about what to eat. With foodpanda and its extensive list of dining partners, you can always order a burger or pizza, milk tea or frappuccino, Japanese or Mexican, and so on. Aside from your usual favorites, foodpanda is able to satisfy your cravings for your favorite local food from small businesses to establishments waiting to be discovered. Whatever your food choice may be, know that you’ll get everything in a tap, safe and fast.

Convenience. All the time and energy that goes into going out to buy food or groceries is reduced to simple scrolls and taps on the screen. Foodpanda’s app and website are as easy to access as they are simple to use. With a few taps here and there, expect a seamless experience for every order delivered to your doorstep in less than twenty-five minutes.

Customer Perks & Rewards. Lastly, foodpanda offers deals and offers for its valued customers like no other does. Enjoy

regular discounts and free delivery promos.

From food to goods, you’ll surely end up loving its endless list of benefits whether you’re on a tight budget or feeling the need to indulge.

These prime offerings make foodpanda the top delivery service of choice in any market it enters. That includes city centers, where a fast-paced lifestyle leaves little time for going out, as well as non-urban areas, where distance between home and restaurant often make it a chore to buy essentials. Thanks as well to its dedicatedriders, quality and satisfaction of customers are consistently in check.

Whether you’re busy at home or enjoying a weekend with family, foodpanda is definitely just a tap away for your food and grocery needs. Check out restaurants and shops that are now available in your area!

More food cravings satisfied: foodpanda rides to Batangas, Butuan, Dasmariñas, Iligan, Koronadal, Ormoc, and more. For more information visit www.foodpanda.ph.

M

ONDELĒZ International, Inc. celebrated its second annual Purpose Day to reinforce and activate its commitment to Sustainable Snacking.

“Purpose Day is an intentional and powerful moment for our teams to celebrate, reflect and, most importantly, activate our Purpose in unison,” said Kristoffer Rada, Philippines Country Manager for Corporate and Government Affairs. “This year, we’re leaning into our enterprise priority of environmental sustainability by reducing water, waste and energy with a theme of ‘getting our hands green for the planet.’

While the pandemic has created challenges for people around the world, we didn’t want to miss the opportunity to invite our 80,000 colleagues around the world to do their part to live more sustainable lives and demonstrate that we are stronger together even when we’re apart.”

To kick off the global event, Mondelēz International CEO Dirk Van de Put hosted a LinkedIn Live Sustainability Snack Chat last September 30, featuring sustainability experts.

Employees around the world were also invited to get their hands green through a variety of virtual and socially-distant in-person activities where possible. More than 25,000 colleagues participated in environmental microactions that were done at home individually or with family. About 12,000 volunteered with local environmental organizations to make our planet a little greener, and colleagues joined many of the 40 virtual “Green Chats” about the company’s sustainability priorities and progress all over the world.

In the Philippines, local activities were also executed during the weeks leading to Purpose Day. First was a plastic collection drive that encouraged Mondelez Philippines colleagues to collect single-use plastics from their homes for recycling. Next, colleagues were asked to show their commitment to sustainability by taking photos of themselves wearing a green shirt, with their hand painted green. These photos were turned into a virtual mural which entices people to tackle environmental issues such as improper segregation and processing of plastic waste.

Last September 22, 2020, a “Green Chat”

on plastic waste was held among employees to reinforce our global commitment of making all our packaging recycle-ready. Rada pointed out that “We are not only trying to be plastic neutral, but in that sense, we’re a catalyst for helping improve and ensure that the environment stays clean.” Bonar Laureto, the Executive Director of Business for Sustainable Development discussed how the problem of plastic waste in the Philippines may only be addressed if it is done as a community. And finally, Leah Raquin, Mondelez Philippines’ Safety, Security, and Environment Manager spoke about the Company’s plans on continuing to be Carbon Neutral, Water Positive, and Zero Waste.

The final activity to close out Purpose Day was a virtual volunteering event led by Tippy Go from The Googly Gooeys, where employees learned how to recycle packs of Cadbury Dairy Milk Lickables into usable home items such as desk organizers and planters. This event not only provided the 134 participants with an avenue to be creative with their designs, it also enriched resourcefulness and showed that recycling can also be fun!

Through its many Purpose Day activities, Mondelez Philippines was able to collect and recycle more than 20 kilos plastic packaging in a period of 2 weeks.

The Purpose Day celebration was not just meant for a month worth of sustainable actions, it was rather a month of empowering the Company’s people and partners to live a purposeful life, moving towards the bigger goal of making planet Earth greener for the generations to come.

Pizza Pedrico’s launches ‘Club Paborito’

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IZZA Pedrico’s is looking for qualified individuals who want to be part of its official Club Paborito Dealer community. The mission is to bring Pizza Paborito for your community to enjoy. Being a Club Paborito Dealer makes you a part of the largest pizza network in the Philippines that offers delightful and memorable paborito pizza experiences to families and barkadas.

Pizza Pedrico’s aims to provide entrepreneurs and negosyantes nationwide an opportunity to earn even during these trying times. Pizza Pedrico’s Club Paborito was launched to satisfy the pizza cravings of our loyal customers at the safety of their own homes and communities. Excite your families and friends by sharing your Paborito Flavors while living the moment together.

Home schooling your kids makes it even more fun. Enjoy Pizza Paborito in your own home anytime you like it.

There's no need to suffer the long waits of pizza deliveries when you can bake your own paborito flavor anytime you

want it, hot from your own oven. Paborito frozen-fresh, ready-to-bake pizzas will be available in your community soon!

Choose from these best selling Pizza Paborito flavors: Ham+Pineapple and Cheez, Ham and Cheez, Cheez and Cheez, or Sausage+Pepperoni and Cheez.

So if you are residing in a village/ residential building/residential cluster/ residential district/townhouse district, sign-up no and be our official Club Paborito community Dealer (bit. ly/3hbnAoZ).

Offer your community delightful Pizza Pedrico’s safely delivered to their doorsteps!

We are also opening more stores to serve you nationwide. For your Paborito Pizza business opportunity, you can reach us thru these hotlines: Manila [02] 84429444; Cebu [032] 520-8811; Davao [082] 295-7943 or 0925-511-9444 for mobile users. Follow us on our social media pages for your Paborito updates: Facebook (facebook.com/PizzaPedricosOfficial), Instagram (@pizzapedricos), and Twitter (@PizzaPedricos).

BusinessMirror

Editor: Tet Andolong

Holcim kicks off online campaign for flagship cement brand

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By Roderick L. Abad

EADING building solution provider Holcim Philippines Inc. has launched a new digital campaign highlighting the reliability of its flagship general purpose cement brand Excel in building durable and quality structures that support user’s aspiration for progress.

The publicly listed firm has begun a series of posts on Facebook and Instagram, centering on how the cement has become a preferred choice among local contractors for building important structures from homes to infrastructures.

The campaign features Filipino words kasangga at pag-angat in reference to the attributes Excel is associated with, as well as images of builders and homeowners.

According to Holcim Philippines Vice President for Marketing and Innovation Ram Maganti, this initiative is a celebration of how the cement brand has aided contractors to construct a number of structures that have made Filipinos’ lives better since its inception in 2001.

“Holcim Philippines has sold over a billion bags of Excel in the brand ’s nearly two decades in the country,” the top executive boasted.

“This reflects the trust in Excel of local contractors who in turn

have used this to build many of the things that benefit us today.

This campaign is a reminder that Excel will continue to be reliable partner in building a better Philippines moving forward,” he added.

Apart from the product posts, Maganti said the company has been sharing stories of its partners and employees whose lives have been uplifted by Excel.

The VP for marketing and innovation expressed his gratitude to their partners and people who have enabled them make Excel a success in the Philippines.

“We’d like to share their story as part of this campaign to provide positive and inspiring stories during this time. Our Excel experience shows that things do get better and there are companies and brands that you can count on to support you in your progress,” Maganti stressed.

Holcim Philippines is a member of the LafargeHolcim Group, the global leader in the building materials industry with operations in 80 countries ran by over 75,000 employees.

The cement-maker has manufacturing facilities in La Union, Bulacan, Batangas, Misamis Oriental and Davao, as well as aggregates dry mix business and technical support facilities for building solutions.

Nature-inspired developments: Perfect fit for the new normal

The Lake at St. Charbel in Cavite inspires an easy, laid-back lifestyle

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ATURE has become the perfect antidote for these stressful, uncertain times.

This is perhaps why many have turned to farming and gardening as a way to relax and de-stress most especially during the quarantine. Across various social-media platforms it would be impossible to miss the “plantito/plantita” hashtags—a clear sign that individuals stuck in their homes have actually turned to nature to heal and alleviate their fears.

Those living in high-rise condominiums have created vertical gardens in their balconies or repurposed corners as home for their potted plants inside their living room. Those who have enough space outside their houses meanwhile have turned unused plots into gardens, planting colorful blooms or herbs they can use for cooking. And the benefits are innumerable. Apart from taking your mind off your worries, plants also help improve air quality and lighten the overall mood of your room.

Even health experts can attest to these benefits as they, too, have been harping on the value of having good air quality, getting enough sunlight, being able to enjoy lush greeneries, and communing with nature. As such, many individuals and families are looking for homes that can afford them with such spaces and proximity to nature.

“We have seen how critical it is to have enough space to move around. Social distancing isn’t something we see as temporary. I think this will now become the norm and thus, it is important to live and reside in an area where there’s more than enough space for people to move around, have access to nature and have good air quality to breathe in,” said Sta. Lucia Land Inc. President Exequiel Robles.

“Moreover, never has nature and greeneries been more valuable than now. In fact,

nature or the simple idea of creating your own green space had become a perfect therapy for many individuals while on quarantine. And this is something that we fully understand and long advocated for. This is why we have in our portfolio projects that would allow residents to commune with nature and to some extent, realize their dream of becoming a full-fledged gardener/farmer,” Robles added.

These projects include farm lots and lake communities that have proven to be highly valuable in today’s new normal. These communities allow residents to harness the healing benefits of nature and the bounty of the Earth.

The Lake at St. Charbel in Cavite inspires an easy, laid-back lifestyle with its lake, a picturesque lighthouse, and picnic area nestled in verdant greenery, where you can enjoy the soothing comfort and healing benefits of nature. Leisure farm lots at La Huerta Farms and Residences in Laguna allow you to live sustainably as you enjoy a healthy harvest right from your backyard.

“We put premium on one’s well-being.

We understand that homes are investments made to provide security and comfort to its residents. Hence, we continue to develop projects that would help individuals achieve this objective. These projects would allow future owners to achieve a certain level of convenience and serenity—something that we all need in these challenging and uncertain times. It will serve as their sanctuary where they can peacefully retreat and truly find solace,” Robles said.

“Simply put, our lake developments and farm lots are actually projects that are built for and beyond the new normal. Here, one is afforded the luxury of space, the abundance of nature and the valuable bounty of the Earth at the same time,” Robles concluded.

Wednesday, October 7, 2020 B7

Singapore proptech vows to deliver efficient real-estate transactions

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By Rizal Raoul S. Reyes @brownindio

HROUGH its technologycentric methodologies, Filipinos will now have an opportunity to do fast, reliable and streamlined transaction on the digital highway as Singapore’s leading proptech Ohmyhome recently started operations in the Philippines.

Rhonda Wong, chief executive officer and cofounder of Ohmyhome, told the press in virtual briefing that the start-up is ready to help local customers through its efficient online services that provides the best of both worlds—a seamless DIY platform and professional agent services.

She said Ohmyhome is designed to serve customers in the entire buying and selling process by providing a unique hybrid model of a DIY (do-it-yourself) platform and full-fledged agency services that help ease pain points for buying, selling and renting.

This is done by leveraging on their advanced technology capabilities and their team’s dedication to provide exceptional service to their customers.

Wong said Ohmyhome is bringing the same experience it did in Singapore and Malaysia. Ohmyhome will enable Filipino homeowners and searchers to buy, sell, and rent properties in a simple, fast, and efficient manner.

Ohmyhome has a stellar record in Singapore and Malaysia where it continues to provide an estimate of 2,000 housing transactions per month. Moreover, the platform also garnered 300,000 application downloads, over 175,000 active

users and 15,000 unique listings of real-estate properties to date.

“We are very different from property classified platforms. Our focus is not on advertising but on helping customers transact. We take care of the entire transaction process—from search and dealclosing all the way through legal documentation and mortgage advisory—making it simple for both first time property buyers to seasoned investors to transact realestate,” Wong pointed out.

“Customers who don’t DIY can also opt for our full agent services, which include market research on estimated valuation, powerful database matching of potential buyers, hosting property viewings, documentation, and more,” Wong pointed out.

The entry of Ohmyhome in the Philippines is a welcome development in the local real-estate circuit, which faces challenges such as unreliable agents, complicated government processes and disorganized web sites, and the need to coordinate with multiple agencies. With Ohmyhome, property buyers can avoid stress, unnecessary delays, and botched deals.

Wong is confident that these issues will be a thing of the past.

“Our team of highly professional

Proptech Ohmyhome’s app aims to help Filipinos achieve seamless transactions

and experienced agents will assist Filipino buyers and sellers in whatever service they need, at prices that maximize quality and sustainability.”

Since its launch in Singapore in 2016, Ohmyhome has proven its reliability as a platform, anchored on three primary advantages—it is simple, it is fast, and it provides value for money.

“First, Ohmyhome is simpler.

Clients can choose whether to do it themselves through the DIY option or engage an experienced inhouse agent who can evaluate their needs,” Wong said.

“Second, it is faster. Consumers can search through unique listings and access services that can get the job done three times faster than market norms in Singapore and Malaysia,” Wong added.

“And finally, it gives the clients their money’s worth, with efficient and reliable housing services.”

To democratize the access, the option to DIY comes free as Ohmy-

home wants a quality, reliable platform to be accessible to all customers. Furthermore, homebuyers and sellers will be able to manage their transactions on their own and connect directly with interested sellers and buyers.

Feedback from users shows that Ohmyhome’s DIY platform is extremely efficient, convenient, and easy to use. Positive and high reviews—five out of five stars—in the Google Play Store and on Facebook also show that Ohmyhome is a credible and trustworthy application for clients.

“And because of our simple transaction process and our competent agents, we have attained a satisfaction rate of over 99 percent in our Singapore and Malaysian markets,” Ohmyhome Chief Product Officer and Cofounder Race Wong asserted.

As a one-stop shop for property solutions, Ohmyhome will make housing transactions in the Philippines hassle-free and efficient.

Creating the community of tomorrow W ith Southern Metro Manila emerging as a key growth center, how will its development change the way we live? Better yet, how will it influence the way cities and urban hubs evolve in the coming years?

In the context of modernity, we try to see our communities as self-contained hubs where residents have quick access to all of the necessities and conveniences of city life. In an ideal scenario, everything would be within walking distance: retail centers, entertainment halls, even schools or businesses or even places of worship. There would be in-property transportation terminals for those who work outside of the immediate vicinity.

For the most part, developers building communities within key cities have already factored all of these in by adding a retail row or a transport hub to their villages. But, with many people considering the concept of vertical residential real estate (essentially, condominium units in mid- or high-rise structures,) this idea has needed some recalibration and rethinking to meet present needs. This, however, is something that the SM Development Corp. (SMDC) has worked into practice since its first development more than a decade ago.

Building a home beside the mall

Over the past decade, several of SMDC’s developments have followed a paradigm that is simply referred to as homes beside the mall.

These are residential structures strategically placed across the street from, behind, or even adjacent to some of SM’s most prominent Supermalls.

This has enabled residents fortunate enough to move into these structures to live a life that is marked by comfort and convenience. Shopping for the week’s groceries is a breeze with supermarkets or hypermarkets, pharmacies, and convenience stores located

right outside one’s front door. One can enjoy browsing and buying at stores carrying some of the world’s biggest brands, then take a break to enjoy world-class cuisine at any of a growing number of restaurants. Entertainment options? Not a problem: a short walk or an escalator ride leads up to cinemas running both local and foreign films, amusement arcades for kids of all ages, and even concert and conference halls running a host of exhibitions and performances.

Las Piñas, one of Manila’s fastest-growing southern suburbs, is one area that has seen the impact of homes beside the mall. In recent years, SM Southmall—the first major mall of its kind in the southern part of the city—has grown into a premier lifestyle hub: essentially a growing community in and of itself with a residential enclave rising around it. As a result of Southmall’s success, SMDC aims to take things up a notch with a second development within the property.

The Las Piñas promise

And why wouldn’t they? The location is prime for development: BPOs have been setting up shop within the vicinity and a number of key corporations have relocated to nearby Alabang and Parañaque.

The area is also close to a number of good schools and universities, making it an ideal place in which to raise a family.

Utilities such as good laundries and payment centers abound, and the safety of the zone is assured by the continued presence of the local fire and police departments.

Health care is also not an issue: the Asian Hospital Medical Center, Perpetual Help Hospital, and other smaller clinics are within reach. As for transportation, SM Southmall has long had its own transport terminal where public-utility vehicles move commuters to and from various parts of the city for work or school.

While it has evolved into a self-contained

community, this zone continues to grow. Alongside the mall is the two-tower, eight-story SM South Tower Offices, which hosts both global and local companies. The retail tenants on the ground floor have also enriched the community in terms of service offerings as these include a branch of The Medical City, authentic Chinese restaurants, as well as a branch of the Alfamart chain. The towers have 1,528 parking slots between them and the Sky Garden on the 5th floor provides the perfect respite from the daily grind.

Likewise, part of Southmall’s future development also includes an area within its vicinity that has been earmarked as the site for a renowned university. Keeping all these in mind, the residential enclave beside SM Southmall continues to evolve—and is currently getting ready for another phase of development: one that will certainly put it in the spotlight as a community designed to meet the challenges of tomorrow.

B8 Wednesday, October 7, 2020

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By Josef Ramos

T’S Sunday night at the Angeles University Foundation Gym in Angeles City, Pampanga. NLEX is playing Barangay Ginebra San Miguel in the second of two games kicking off the restart of the Philippine Cup in the shortened 45th season of the Philippine Basketball Association (PBA).

You don’t hear the defeaning roar of rabid Ginebra fans because except for team members, officials, staff, TV crew and a few media, no one else is allowed inside the gym.

But you hear one familiar holler that stands out and reverberates through the gym walls and into the parking lot.

You guessed it right, that raging voice could be from NLEX Head Coach Yeng Guiao.

“I guess without the crowd [they’re playing Ginebra], my voice will stand out,” Guiao told BusinessMirror on Tuesday. “I guess my voice will be even louder because it won’t be drowned out by the crowd’s noise.”

But Guiao said with or without the crowd, the game remains the same—although hinting things could get physical because without anyone in the venue, players tend to become more emotional.

“Like a simple tune-up game,” Guiao said.

“It looks like that you are playing in a closeddoor gym where everything is at stake, and of course that becomes a competitive game for sure.”

Guiao said the bubble doesn’t offer any deep effect in his team’s system, much so on his coaching style.

“I don’t think it will change my coaching ways because there’s no crowd and the venue is so silent,” he said. “I have been coaching for 30 years and I don’t think you are going to change because of your environment.”

Guiao could be feeling the comforts of home the most among those in the PBA entourage while inside the bubble. He hails from Magalang town and was Pampanga’s former vice governor.

But he says he’s not.

“You can’t still go out so you can’t see your friends and family, so it’s useless and there’s no advantage even if you’re in your

Sports YOU HEAR THAT? IT’S COACH YENG BusinessMirror

HEAD Coach Yeng Guiao gives instructions to his Road Warriors during the team’s practice at the Angeles University Foundation Gym.

hometown,” he said. “The only advantage is if you know someone who is working in the hotel or the playing venue, you can talk with each other in Kapampangan.”

The NLEX-Ginebra game on Sunday is set at 6:45 p.m., right after TnT Tropang Giga plays Alaska in the 4 p.m. curtain raiser. NLEX will play without veterans Larry Fonacier (family reasons) and Cyrus Baguio.

A total of 66 games will be played in the

eliminations capped by a rare triple header on October 31 featuring Blackwater against Terrafirma, Meralco opposite TnT and Rain or Shine versus Phoenix.

The eliminations end on November 11 or a month since the all-Filipino conference started.

The playoffs and Finals are set in December with the league looking to wrap up the abbreviated season on December 15.

Samahang Kickboxing ng Pilipinas Secretary-General Atty. Wharton Chan (right) and Coach Moriel Acquisio announce the association’s online tournament.

Kickboxing goes online T HE Samahang Kickboxing ng Pilipinas (SKP) is keeping the sport alive and kicking amid the Covid-19 pandemic by staging the online Kickboxing Musical Form National Championships next month.

SKP Secretary-General Atty. Wharton Chan told the Philippine Sportswriters Association (PSA) webcast that the tournament is open to all practitioners in the 10-12, 13-15, 16-18 and 19-40 years old age groups.

“We want to give our kickboxers the chance to show their sportsmanship through showmanship during the pandemic,” said Chan, adding that there will be two categories—hard style and creative form.

Kickboxing Coach Moriel Acquisio said while both categories will be in the form of imaginary fights, the difference is that in the hard style, entries can be accompanied by their choice of music.

“We are expecting great volume. This is a rare tournament because participants can do it from their homes, their backyards or their offices, then submit their videos online or through our web site,” Chan said.

Chan said SKP President Sen. Francis Tolentino pushed for the online tournament to keep the kickboxers in competitive form even during the pandemic.

Acquisio, however, clarified during the

forum presented by San Miguel Corp., Go For Gold, Milo, Amelie Hotel Manila, Braska Restaurant and the Philippine Amusement and Gaming Corp. and powered by Smart with Upstream Media as the official webcast partner, that while there is no limit to the number of attempts for each video entry, participants are not allowed to do any editing.

“If they make a mistake, they can do it again and start with a new video. But they cannot edit the videos,” said the kickboxing coach, who will handle the technical side of the tournament.

Experts will judge the entries based on the basics (stance, punches and kicks), balance (strength and focus on movements) and the degree of difficulty.

Videos must be no less than one minute and no more than three minutes.

PSC BUDGET PASSES COMMITTEE LEVEL T

HE Senate approved at the committee level on Tuesday the Philippine Sports Commission’s (PSC) proposed 2021 general appropriations budget of P207 million.

Committee on Sports Chairman Sen. Christopher “Bong” Go approved the PSC budget in a virtual hearing also attended by Sens. Imee Marcos and Nancy Binay.

The Senate, however, has yet to approve a separate budget of P250 million which the PSC proposed for the preparation and participation of Filipino athletes in the rescheduled Tokyo Olympics, Vietnam 31st Southeast Asian Games, Paralympics, Asian Indoor and Martial Arts Games, Asian Youth Games and the Asian Beach Games.

Go congratulated the PSC for the overall championship Team Philippines clinched in the 39th SEA Games.

E

“Initially, he had some pain but as the stage continued he felt better,” Tosatto said.

“However, towards the end in the final 45 kilometers the pace increased and the climbs got steeper, he had some pain, and had to finish the stage at his own pace. Now we’ll check him over and get a verdict from our medical staff.”

Caicedo, who rides for the EF team, required more than four hours to complete the 150-kilometer route from Enna.

Giovanni Visconti crossed second, 21 seconds behind, and Harm Vanhoucke was third, 30 seconds behind.

“From this morning we had decided that I would try to attack and go in the breakaway,” Caicedo said. “We did it, we took a good lead on the peloton and then on the Etna climb I managed to drop Visconti.

Almeida and Caicedo have the same exact overall time, with Spanish rider Pello Bilbao moving up to third overall, 37 seconds behind.

Almeida, who rides for the DeceuninckQuick-Step team, finished second in the opening stage time trial.

“Cannot describe this feeling,” said Almeida, who finished 11th in the stage, 1:03 behind Caicedo. “I tried to do my best on the climb and stay with the main favorites for the GC.” Nibali, who crossed seventh in a small group of overall favorites, moved up to sixth, 55 seconds behind. The Sicilian is one of only seven riders to have won all three of cycling’s Grand Tours—the Giro (twice), the Tour and the Spanish Vuelta.

Thomas crashed in the neutral zone before the official start. His elbow was bloodied and his shirt torn on the back and left side. He dropped behind the main pack shortly before the climb as Nibali’s Trek team set a blistering pace.

Ineos Grenadiers teammate Filippo Ganna— the recently crowned time trial world champion and winner of the time trial in Stage 1—paced Thomas back to the main pack while wearing the

“We ended 2019 on a high note because of that monumental win. Thanks to you and our national team,” Go said.

Chairman William Ramirez and Commissioner Ramon Fernandez and Acting Executive Director Atty. Guillermo Iroy defended the budget that already passed the Department of Budget and Management’s scrutiny.

Go also praised the PSC for the preparations it has done for the National Academy of Sports despite the Covid-19 pandemic and vowed to find ways to help the agency revert to 100 percent national athletes and coaches are receiving from the agency.

Games and Amusements Board Chairman Baham Mitra also presented his agency’s proposed budget for 2021.

The schedule of plenary deliberations will be announced at a later date.

Alex doing well on Paris clay

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HILE young Alex Eala is piling up wins at the French Open juniors competition, her dad Mike and mom Rizza could only monitor their daughter’s accomplishment on Paris’s clay.

“My wife and I couldn’t make it to Paris because of the travel restrictions,” said Mike, who last saw Alex and her brother Miko in February while on vacation from the Rafa Nadal Academy in Spain where they are scholars.

But the couple said they are very happy with Eala’s second-round victory adding their daughter oozed with confidence during the match.

“It was really nice to see Alex keep her composure throughout the match.

Thomas, Yates big losers in volcanic Giro 3rd stage TNA, Sicily—Geraint Thomas and Simon Yates were the big losers and Sicilian rider Vincenzo Nibali was among those who gained precious time on his home roads in the wild, rainy and windy third stage of the Giro d’Italia on Monday.

Ecuador champion Jonathan Caicedo won the stage which finished up Mount Etna, after taking part in an early breakaway, and Portuguese rider João Almeida grabbed the pink jersey.

Thomas, the 2018 Tour de France champion who was a big prerace favorite, crashed before the stage began and then dropped behind before the climb and was left out of contention.

With rain coming harder and harder as the riders climbed the barren, black lava-laced slopes of Etna, Yates—another pre-race favorite—was also dropped.

Ineos Sports Director Matteo Tosatto said Thomas went down after getting a water bottle caught in his front wheel.

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

pink jersey but Thomas again couldn’t keep up.

Thomas, who lost more than 12 minutes, was also unfortunate in his previous Giro appearance three years ago, withdrawing after getting injured in a crash involving a police motorbike. AP

GERAINT THOMAS, the 2018 Tour de France champion, shows the telltale signs of a crash. AP

The idea is to take Roland Garros one match at a time, a set at a time, a game at a time and a point at a time,” Mike said.

Eala, 15, advanced to the third round after beating Mara Guth of Germany, 6-1; 5-7; 6-4, on Monday night.

“It was a relief,” Mike quoted her daughter as saying. “I am so happy to win this match against Mara Guth who also played well.”

The second set was again halted by heavy rains, just like in Eala’s opening-round match with Natalia Szabanin of Hungary the night before.

“It was an incredible game played by the opponent, we were concerned. But a match is won with two sets, and we are glad that Alex found a way to win,” Mike said. Annie Abad

Al Mendoza alsol47@yahoo.com

THAT’S ALL

Can Heat repeat against Lakers?

LET’S be honest. Do you believe Miami Heat can win again today (Wednesday, PHL time) to forge a 2-2 tie with the Los Angeles Lakers in their seven-game National Basketball Association (NBA) Finals?

If you do, then that’s tantamount to favoring Heat history.

To get this far, the overmatched Heat yielded two losses before wrapping up a 4-2 victory over Boston in the Eastern Conference Finals.

It could be happening again for Miami, running away with a 115-104 victory on Monday behind Jimmy Butler’s 40-point, triple-double effort to trim down the Lakers’ lead to 2-1.

Carried by emotion at the sight of an impending victory, Butler, after a drive off LeBron James to make it a 109-100 Heat lead with 1:13 left to play, barked at James: “You are in trouble.”

Although a stung James quickly countered with a forceful dunk at the 1:09 mark, terrible Tyler Herro completed a threepoint play for a 112-102 Miami margin before Heat’s Duncan Robinson hit a three 115-102 with only 29 ticks left.

“We also belong here [Finals],” boasted afterward by Butler. “They can be beaten, too.”

So badly beaten were the Lakers, in fact, that James, the Lakers’ leader since moving to Los Angeles in 2018 from Cleveland, walked out of the court with still nine seconds left— disappointed but nonetheless cognizant of Miami’s masterful showing, of Butler’s one-man demolition job.

“They came out and executed well,” said James. “Jimmy [Butler] had his hand in all those plays.”

James’s 25 points, 10 rebounds and 8 assists paled in comparison to Butler’s 40 points, 11 rebounds and 13 assists.

Butler even engineered Miami’s final breakaway when the Lakers threatened at 94-97, stringing up 10 points—including 8 straight—in forging that 109-100 Heat bulge with 73 ticks left.

Butler, 31, has always been the Heat hero in the playoffs, spearheading Miami’s decisive wins over Indiana (4-0) in the quarters, Milwaukee (4-1) in the semis and Boston (4-2) in the Eastern Conference Finals.

Miami’s 12-3 playoffs record can only be equaled by the Lakers, who scored identical 4-1 wins over Portland, Houston and Denver on their return to the Finals after a 10-year championship drought.

The Lakers need two more wins to end the franchise’s longest losing title streak, winning last in 2010 behind the heroics of Kobe Bryant.

Bryant died in a chopper crash in January, the reason James and the Lakers are bent on winning the crown and dedicating it to “Black Mamba.”

But will it happen at Lake Buena Vista, Florida, this time without the roaring fans in Los Angeles’s Staples Center?

It will but only if Butler, 31, gets to be stopped rampaging beginning on Wednesday—by James himself.

But before doing that, James, 35, must also minimize his turnovers. He committed 8 of the Lakers’ 19 miscues in Game 3—a stat as horrible as the rising number of casualties amid the pandemic.

Likewise, for the Lakers to derail the Heat’s momentum, Anthony Davis must regain his bearings as his 15-point effort in Game 3 was a far cry from his 34-32 in Games 1 and 2.

Only when the Deadly Duo (James and Davis) are in the zone that the Lakers can honestly lay claim to their record-tying 17th NBA title since the league’s birth in 1947.

But will Butler back down?

THAT’S IT Nice to know that Calvin Abueva, suspended indefinitely for roughness, has gotten his license back to play in the PBA bubble.

Indeed, everybody deserves a second chance.

Abueva must shed off his beast tag from hereon for his future’s sakes.