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AS JOBLESS RATES STAY HIGH, GROWTH ‘LIMPING’ www.businessmirror.com.ph

Friday, September 4, 2020 Vol. 15 No. 330

P25.00 nationwide | 2 sections 16 pages | 7 DAYS A WEEK

By Cai U. Ordinario

HE double-digit national jobless rate will continue to hobble Philippine economic performance in the third quarter, local analysts said on Thursday following the release of the results of the July Labor Force Survey (LFS).

The Philippine Statistics Authority (PSA) said the country’s jobless rate increased to 10 percent in July 2020 from 5.4 percent in July 2019. However, the rate is an improvement from the 17.7 percent posted in April 2020. The PSA noted that among the regions with the highest unemployment rates are the country’s primary growth centers—National Capital Region, Calabarzon and Central

Luzon with unemployment rates of 15.8 percent, 12.4 percent and 10.9 percent, respectively. “As long as unemployment is high, output will still be limping. We expect Q3 [third quarter] GDP at -10.6 percent, seemingly reflecting this latest 10-percent unemployment rate,” Unionbank Chief Economist Ruben Carlo O. Asuncion told the BusinessMirror. Continued on A2

PANDEMIC COULD WIPE OUT PHL’S ECONOMIC GAINS, MOODY’S WARNS

OODY’S Investors Service warned the Philippines of potential “acute cyclical challenges” to its previously touted economic strength due to the coronavirus disruptions, all while lowering its growth estimate for the country further for 2020. The credit watcher said it now sees a 7-percent contraction for the Philippine economy in 2020, further dampening hopes of recovery for the year. Moody’s previous forecast was a decline of just 4.5 percent for this year. “This scenario is balanced against the risk that the economy’s potential is hit more significantly than we currently estimate and/or that fiscal and economic reform momentum does not resume, leaving the Philippines’s economic and fiscal strength somewhat weaker. In particular, the near- to medium-term economic outlook remains uncertain given the persistence of coronavirus infections both domestically and globally, especially among the Philippines’s largest trading partners and key destinations and sectors for overseas labor,” economists at Moody’s said. “Continued domestic transmission poses risks of a wider return to stricter lockdown conditions, impeding the recovery projected to commence during the second half of 2020. Lower remittances from overseas Filipinos could also weigh on incomes and consumption to a greater extent than we currently estimate,” it added. The projected 7-percent contraction is a sharp contrast to the strong 6-percent growth seen in 2019 and the 6.6-percent average growth in the preceding five years. Moody’s raised concerns that the pandemic may wipe off the gains seen in the past six years. “The Philippines’s credit profile has been characterized in recent years by strong economic performance, a strengthening fiscal position and limited vulner-

See “Moody’s,” A2

PESO EXCHANGE RATES n US 48.5910

EXCAVATORS fill the 500-meter stretch of the famed baywalk on Manila Bay with white sand as part of the bay’s rehabilitation efforts. The Department of Environment and Natural Resources is working double time to finish the project in time for International Coastal Cleanup Day on September 19, 2020. NONIE REYES

House opens hearings on ₧4.5-T ’21 budget By Jovee Marie N. Dela Cruz

HE House of Representatives will start on Friday (today) scrutinizing the P4.5-trillion 2021 National Expenditure Program (NEP). Invited to the first day of the budget hearing at the plenary hall are members of the Development Budget Coordination Committee (DBCC): Budget Secretary Wendel Avisado, Finance Secretary Carlos Dominguez, acting Socioeconomic Planning Secretary Karl Kendrick Chua, and Bangko Sentral ng Pilipinas Governor Benjamin Diokno. Unlike the previous hearings, Deputy Speaker for Finance Luis Raymund Villafuerte

said a maximum of 50 attendees will be present physically in Congress, including representatives from each agency to be chosen by their respective departments. He said the rest of the House members and the national agencies’ officials will join the deliberations via teleconferencing apps. “The leadership really has to make sure that aside from being transparent and deliberative, the hearings must be safe. That’s why the number of people present has to be limited, but at the same time it doesn’t mean that those participating through Zoom cannot participate. However, if there are issues in which they must be personally present, they can be summoned,” he said.

Speaker Alan Peter Cayetano said the House is eyeing to finish the budget hearings before the end of this month and immediately transmit the expenditure program to the Senate for its own deliberations. “For the first time in history, we can sign the budget maybe late November or mid-November as a sign of unity by our country,” he said. Under the schedule, the budget hearings for Department of Agrarian Reform, Department of Energy, Energy Regulatory Commission, Philippine Charity Sweepstakes Office, Philippine Amusement and Gaming Corp. will be on Monday, September 7.

Facing the House on Tuesday are Department of National Defense, Department of Environment and Natural Resources, Department of Foreign Affairs, and Department of Social Welfare and Development. On Wednesday, the Department of Science and Technology, Department of Trade and Industry, Technical Skills and Development Authority, Department of Labor and Employment and Commission on Higher Education are expected to defend their budget. On Thursday, invited to the budget hearings are Department of the Interior and Local Government, Department of Tourism, and Department of Agriculture.

See “Budget,” A2

n JAPAN 0.4577 n UK 64.8981 n HK 6.2700 n CHINA 7.1065 n SINGAPORE 35.6527 n AUSTRALIA 35.6366 n EU 57.6143 n SAUDI ARABIA 12.9565

Source: BSP (September 3, 2020)

News BusinessMirror

A2 Friday, September 4, 2020

Budget… Continued from A1

On Friday invited agencies are Presidential Communications Operations Office, Department of Information and Communications Technology and Department of Public Works and Highways. On September 14 the Judiciary, Department of Justice, Department of Human Settlements and Urban Development, and Department of Health will face the members of the chamber. On September 15 the Office of the President, Office of the Vice President, Department of Transportation and Department of Education are expected to present their budget. The Department of Budget and Management (DBM) said the 2021 NEP will prioritize health-related response programs while restarting the economy amid the continuing threat of the Covid-19 pandemic. With the theme of “Reset, Rebound and Recover: Investing for Resiliency and Sustainability,” the DBM said the proposed 2021 national budget will sustain government efforts to improve the country’s health-care system, ensure food security, create jobs and enable digital infrastructure while protecting the most vulnerable sector of the society amid the pandemic. The 2021 expenditure plan is higher than this year’s budget by 9.9 percent and equivalent to 21.8 percent of GDP.

Public participation

MEANWHILE, Cayetano said the direct participation of the people in the national budget deliberations can help counter the misinformation prevalent on social media. He said Congress is taking advantage of the increased use of social media during the time of the pandemic to invite people to join the discussions even as direct participants. Villafuerte said the House is also looking into the possibility of creating a separate message board and a new social-media account to accommodate more participants. House Minority Leader Bienvenido Abante Jr. assured the public that lawmakers from the minority would thoroughly review the budget to ensure that funds go where they are most needed and financial resources are not wasted on unnecessary items. “Let me stress that while we are grateful to the Executive for preparing this budget and we respect the work they have put into it, we as legislators are dutybound to review the budget, reassess the priorities and line items, if necessary, and reallocate funds to other programs and projects that we believe require additional financial resources,” said Abante. “This does not mean we will not cooperate with efforts to pass the budget as fast as humanly possible,” he added.

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4-wk quarantine sked helps biz owners plan better–PCCI chief

By Elijah Felice Rosales

HE country’s largest business network on Thursday said firms are now given the room to plan ahead their operations crucial for recovery under the shift to a four-week quarantine. Philippine Chamber of Commerce and Industry (PCCI) President Benedicto V. Yujuico said the government’s move to extend the duration of quarantine is going to help business owners plan their actions ahead in a period of uncertainty. This will also allow them to take in workers and provide livelihood opportunities again, he added. “I am also glad that the government is lengthening the runways, so to speak, from a two-week quarantine to four weeks so that businesses can plan better,” Yujuico said in his speech at the opening of the

28th Metro Manila Business Conference. He explained the decision to prolong the period of quarantine before changing it again allows manufacturers to forecast their purchases and production, as well as distribution. Before, they can only make plans for a 14-day stretch, as President Duterte may enforce a different protocol after. “This is very important, particularly for those in the manufacturing sector, which have long lead times from receiving raw materials to delivery of finished products,” Yu-

juico said. As such, the PCCI chief expects employment and economic activity to rebound in the last four months of the year, especially in the fourth quarter. He said the government made the right move this week when it permitted gyms, Internet cafes and review centers to reopen, as more resumption of operations would translate to more work opportunities. “I am particularly relieved regarding the recent announcement of the government last Monday, August 31, allowing more businesses to operate,” he shared. Last Monday the President decided to keep Metro Manila under general community quarantine (GCQ) for until September 30. This marked the first time Duterte imposed a quarantine level for a period of 30 days. As in the past, local government leaders and the Inter-Agency Task Force for the Management of Emerging Infectious Diseases recommend to the Chief Executive the kind

of quarantine to be enforced in certain areas. Whatever the President imposes will last for an average of 14 days before the decisionmaking process is repeated. According to Trade Secretary Ramon M. Lopez, this change was made so people can get used to wearing face masks and face shields, keeping distance and disinfecting regularly regardless of the quarantine in place. Alongside Metro Manila, GCQ is maintained as well in Bulacan and Batangas, as well as in the cities of Tacloban and Bacolod, for until September 30. Only Iligan City was placed under modified enhanced community quarantine (MECQ), while the rest of the country is put under modified GCQ. Gyms, grooming services and review centers were also allowed to resume their enterprise in GCQ areas. They were scheduled to reopen on the first week of August before the government reverted Metro Manila and nearby provinces to MECQ; thus, delaying their resumption.

Moody’s… Continued from A1

ability to external shocks, although the global coronavirus outbreak will disrupt or potentially reverse these trends. Structural credit challenges include low per capita income and some constraints to the quality of institutions, which stands in contrast to strong policy effectiveness,” the credit watcher said. In the first half of the year, the Philippines entered its first bout of recession after 29 years of successive economic growth. The contraction, which was especially sharp in the second quarter, was attributed largely to the severe impact of the community quarantine on domestic demand. Household consumption fell 15.5 percent during the quarter, while import demand fell 40 percent. Exports of goods and services also fell 37 percent. The Philippines also reimposed tighter movement control measures in the first two weeks of August after the number of infections rose due to relaxed rules. Moody’s also noted that the sharp deterioration in labor market conditions and faltering remittance inflows has already weighed on consumer sentiment and spending. Nonseasonally adjusted unemployment rate rose to a record high of 17.7 percent in the second quarter 2020, while remittances from overseas Filipinos fell 9.9 percent during the same period. “In the context of these trends, our projection of an economic recovery in the second half—while still intact—will be less robust than previously assumed. Combining this view with the sharp contraction over the first six months of 2020, we have lowered our full-year real GDP growth forecast to a contraction of 7 percent, down from our earlier expectation of a 4.5-percent drop,” Moody’s said.

As jobless rates stay high, growth ‘limping’ Continued from A1

Asuncion said single-digit GDP growth performance will likely happen in the last quarter given Filipinos’ holiday spending. He said economic growth in the last quarter of the year may contract 3.9 percent. This will lead to a full-year contraction of 8 percent this year, deeper than the government’s expectation of a contraction of 5.5 percent.

Ateneo Center for Economic Research and Development (ACERD) Director Alvin P. Ang told the BusinessMirror that it is likely that thirdquarter GDP would contract 10 percent. “We may end the year in single-digit unemployment already but still at close to 10 percent,” Ang said. In a statement, ING Bank Manila Senior Economist Nicholas Anto-

nio T. Mapa said the improvement in unemployment rate compared to April “kindle hopes for a rebound.” However, Mapa said this will not do much for the country’s GDP growth numbers as the economy is expected to continue contracting until the first quarter of 2021. He said the chances of reversing the unemployment rate to around 5 percent may be remote until economic growth gets back to the 6-percent level. “The improvement in unemployment figures mirrors the trend seen in other indicators, bouncing from the lows during ECQ [enhanced community quarantine] but still [away] from pre-pandemic conditions. Given the sustained rise in new infections and partial lockdown measures in place, unemployment figures will likely remain elevated well into next year,” Mapa said. In its Market Call report, First Metro Investment CorporationUniversity of Asia and the Pacific (FMIC-UA&P) Capital Market Research said that while the worst is over for the economy, GDP growth in the third and fourth quarters will continue to contract. The local think tank said the economy will continue to be affected by the high number of Covid-19 cases, limited public transportation especially in Metro Manila, and the US-China trade war, among others. It said, however, that there are month-on-month gains in the real economy, such as in manufacturing, capital goods imports, exports and probably construction. “We think the Philippine economy has bottomed even though we will likely still see a significant single-digit fall (year-on-year) in Q3 with further improvement in Q4. However, the full-year GDP will likely register its first decline since 1998,” the think tank said. “The unexpectedly deeper dive of GDP in Q2 [second quarter] has lessened positive sentiments on the economy’s ability to get back to a fast growth pace,” it added.

Better prospects

ACTING Socioeconomic Planning Secretary Karl Kendrick T. Chua said the country’s performance is improving as he estimated that around 1.1 million jobs are being created through the government’s “Build, Build, Build” (BBB) program. Chua said this already included direct and indirect job creation data. It can be noted that infrastructure has “high multiplier effects” on the economy. By next year, Chua said the BBB can create even more jobs estimated at 1.7 million. As the economy further loosens restrictions on economic activities, more jobs will be created and are estimated to reach 2.4 million to 2.8 million additional jobs next year. Chua said, however, this will depend on the improvements, particularly on lowering the level of quarantine, which rests on the ability of all to follow minimum health standards. He also said more jobs can be created next year if the government improves testing, tracing, isolation capacity and, lastly, the extent to which the government is able to open public transportation. “If we achieve all these, we will see 2.4 million to 2.8 million additional employment next year that will allow us to lower our unemployment rate to around 6 percent to 8 percent by next year. This will be a gradual lowering,” Chua said. The state of the country’s labor market is improving as the LFS recorded a 7.5-million increase in employment compared to April. It added that all 17 regions showed employment improvements from the previous quarter. Neda also said employment in agriculture and forestry increased by 2.1 million from April, with higher agricultural output. Within the industry sector, employment growth was seen in construction with 1.2 million additional employment as the Build, Build, Build program and other construction activities resumed, as

well as in manufacturing at 671,000 additional employment. The July survey figures show a direct link between the level of quarantine restriction and labor market outcomes. In the first half of May 2020, more than three-fourths of the economy was placed under ECQ. As a result, GDP and unemployment worsened to record levels. In contrast, in the first half of July 2020, only 2.1 percent of the economy was placed under ECQ. The result is a significant reduction in the unemployment rate and the return of some 7.5 million jobs. “Without the public transport system back sufficiently, many people cannot go back to work. To illustrate, under GCQ, the share of the NCR economy that is allowed to open is 58.2 percent, but without sufficient public transport, it falls to 35.5 percent,” Chua said.

Informal workers

MEANWHILE, Ang traced the double-digit growth in unemployment mainly due to the GCQ that was in place in June. The GCQ prevented workers, including those in the informal sector, from working. Asuncion said the informal-sector workers, particularly those who are daily-wage earners, may have caused the uptick in unemployment in July. He said these workers who are the hardest hit include street vendors and the neighborhood carpenters/handymen who do odd jobs in local communities. National Statistician Claire Dennis S. Mapa told the BusinessMirror there was also a “big jump” in underemployment which may also be due to informal workers. The highest underemployment increases were observed in workers in private establishments at 735,000 and those who are selfemployed at 516,000. In terms of industry, Mapa said the highest increases were in wholesale and retail trade, with 315,000 joining the ranks of the underemployed; transportation and storage, 257,000; manufacturing, 113,000; and agriculture, 401,000. “For underemployment, I think that this has declined from the April survey but still higher than July 2019. It is highly likely that the most vulnerable one in the labor sector have contributed to the uptick. During a crisis, the vulnerable jobs are the ones easily laid off or affected,” Asuncion said. The government noted that the underemployment rate improved to 17.3 percent in July from 18.9 percent in April, as the increase in underemployed workers was outpaced by the overall increase in employment. The underemployment rate was at 13.6 percent in July 2019.

LFS results

THE PSA said employed persons who reported with jobs but are not at work were estimated at 3.3 percent or 1.4 million employed Filipinos in July 2020, with Covid-19 pandemic or community quarantines as the main reason given, similar to that of the second quarter. This was estimated at 0.8 percent or 328,000 employed persons with a job but not at work in July 2019, and 38.4 percent or 13 million in April 2020. The number of underemployed Filipinos reached 7.1 million as of July 2020, given the varying working arrangements and reduced working hours implemented by companies/establishments. In July 2019 and April 2020, about 5.8 million and 6.4 million Filipinos, respectively, were underemployed. Arts, entertainment and recreation was the most affected sector in July 2020 with a drop in employment rate of 72.9 percent year-on-year, and a drop of 41.4 percent compared to the second quarter of 2020. Employment rate in accommodation and food service activities came next. It dropped by 35.9 percent from last year, although there was an increase of 4.7 percent from April 2020. The youth labor force participation rate improved in July 2020 at 38.9 percent, compared to 38.3 percent in July 2019, and 32.4 percent in April 2020. There were about 7.8 million Filipino youth who were either employed (6 million) or unemployed (1.7 million) as of July 2020. In April 2020, about 6.5 million youth were in the labor force, of which 4.4 million were employed and 2 million were unemployed.

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Five rebels, including ‘Ka’ Roger Rosal’s daughter, die in Palawan clash with elite Marine soldiers By Rene Acosta @reneacostaBM

N elite unit of the Philippine Marines clashed briefly with suspected communist rebels in Palawan on Thursday, killing a daughter of the late Communist Party of the Philippines-New People’s Army spokesman Gregorio “Ka Roger” Rosal, along with four other rebels, one of them, the head of the group’s military unit in Southern Tagalog. Andrea Rosal, whom the military said was the deputy secretary of the rebels’ Southern Tagalog Regional Party Committee (STRPC), was killed during a firefight with members of the Marines’ Special Operations Force under the Marine Battalion Landing Team-4, according to Brig. Gen. Nestor Herico, commander of the 3rd Marine Brigade. The clash occurred at around 5:53 a.m. after members of the Marine unit which was among the crack military teams sent to liberate Marawi City from the Islamic State, raided the guerilla base of the NPA operating in Palawan following a report from civilians about the massing of armed men. “The firefight was very brief. These are the Special Operations Force of the Philippine Marines Corps, this is the Force Reconnaissance Group. It will not fire a shot unless it will hit. So I can assume,

they just fired five shots, and they also hit five. That’s how good they are,” Herico said of the unit involved in the operation. “A war will not last with these people, they are the warriors of Marawi, Force Recon Group,” he added. Rosal, whom Herico said was known with her alias as “Naya,” was freed by a court in Pasig City in 2014 after she was arrested in Caloocan City along with another alleged rebel and charged with cases that include abduction and murder and for being an alleged official of the armed underground movement. At the time of her arrest, Rosal was eight months pregnant and her unborn died while she was in jail. She was also the daughter of Ka Roger, the popular and charismatic spokesman of the communist movement before he died in 2011 in a guerilla base in Northern Luzon. Her mother, Rosario Dumanais, a rebel commander in Southern Tagalog, died years ago in a firefight with soldiers. Herico said that during the brief clash in Sitio Kabuyuan, Barangay Mainit, Brookes Point, Palawan, four other rebels were also killed, including Bonifacio Magramo, alias Boywan, secretary of the regional military Unit 4A of the STRPC. A Marine personnel also died during the battle after he was shot while chasing a fleeing rebel.

Editor: Vittorio V. Vitug • Friday, September 4, 2020 A3

Filipino survivor: Livestock ship with 42 crew sank off Japan coast T

OKYO—Japanese rescuers were searching Thursday for a livestock ship with 42 crew members on board that a Filipino survivor said sank during rough weather a day earlier off a southern Japanese island, the coast guard said. The Filipino crew member, identified in a Bloomberg News dispatch as Chief Officer Sareno Edvardo, 45, was rescued late Wednesday after a Japanese Navy P-3C surveillance aircraft spotted him wearing a life vest and waving while bobbing in the water. A wave tilted the Gulf Livestock 1’s hull to the right and the vessel overturned after its engine stopped, according to a statement from the Japanese coast guard. Edvardo jumped into the sea wearing a life jacket and was subsequently rescued. The ship’s other crew include 38 from the Philippines, two from New Zealand and another two from Australia. The rescued Filipino crew member, who was reported to be in good health, told rescuers the ship capsized before sinking, said spokesman Yuichiro Higashi at the Japanese coast guard’s regional headquarters conducting the search. The 11,947-ton Gulf Livestock 1 ship was carrying 5,800 cows west of the western coast of Amami Oshima in the East China Sea when it

IN this photo released by the 10th Regional Japan Coast Guard Headquarters, a Filipino crew member of a Panamanian cargo ship is rescued by Japanese Coast Guard members in the waters off the Amami Oshima, Japan, Wednesday, September 2, 2020. Japanese rescuers have safely plucked the crew member from the sea while searching for the cargo ship carrying more than 40 crew and thousands of cows went missing after sending a distress call off the southern Japanese island. AP

sent a distress call early Wednesday. The cause of the distress was not immediately known, but the weather was rough in the area due to Typhoon Maysak. The typhoon has since passed the

area and the weather during the ongoing search is fine, Higashi said. The ship, owned by Gulf Navigation Holding based in the United Arab Emirates, left the port of Napier in northeastern New Zealand

in mid-August and was on its way to the port of Tangshan on China’s eastern coast. The Department of Foreign Affairs (DFA), through the Philippine Embassy in Tokyo and the Philippine Consulate General in Osaka, meanwhile, confirmed that the Japanese coast guard immediately deployed patrol boats and airplanes to conduct the search for the missing vessel. The DFA said the Consulate General in Osaka is also monitoring of the progress of the search and rescue mission in coordination with the Japanese coast guard, which is launching a second search and rescue mission. The DFA Office of the Undersecretary for Migrant Workers’ Affairs and the Philippine Overseas Labor Office (POLO) in Osaka were also reported to beinclosecoordinationwithKorpilShip Management and Manning Corp., the local manning agency, in ascertaining the condition of the Filipino seafarers. The Gulf Livestock 1 sent a distress call around 1:45 a.m. when it was about 185 kilometers west of Amami-Oshima Island in Kagoshima Prefecture, according to the Japanese coast guard. The coast guard launched a search operation, joined by the Maritime Self-Defense Force, with a surveillance aircraft.

AP, Bloomberg News, with Recto Mercene

A4 Friday, September 4, 2020 • Editor: Vittorio V. Vitug

Economy BusinessMirror

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Flights bring fruits from Mindanao to Luzon, Visayas By Jasper Emmanuel Y. Arcalas @jearcalas

ILIPINO fruit producers in Mindanao would now be able to ship their harvest directly to Luzon and the Visayas daily amid the Covid-19 pandemic following the signing of a marketing agreement between the government and the private sector. In a news statement, the Department of Agriculture (DA) said its Field Office in Region 11 has signed a memorandum of agreement (MOA) with the Durian Industry Association of Davao City (DI ADC) and John Gold Cargo

Forwarder for the initiative. “The effort aims to facilitate the movement of fruits and help local farmers bring their produce to major markets, provide a stable source of income, and reduce losses in the middle of the ongoing pandemic,” it said on Thursday. Under the MOA, the DA said the three shippers will transport 15 metric tons (MT) of fruits from Davao to Manila at P35 per kilogram daily from September 1 to October 1. The DA added that there will be no “off-loading provided that the products will reach the airport before the cut-off time.”

The first shipment of fruits under the agreement arrived at Ninoy Aquino International Airport last September 1, according to the DA. “We can call this the durian flight,” Agriculture Undersecretary for Regulations and Infrastructure Zamzamin Ampatuan said as he noted that the bulk of the initial fruit shipment contains durian. Ampatuan explained that the flights are solely dedicated to the cargoes unlike in previous arrangements wherein cargo shipments go with passenger flights. “That’s why we are excited about this because it is an opportunity that

will benefit the farmers, producers and traders. We can serve the market and widen the opportunity for farmers to sell their produce with lower cost for cargo,” he added. Agriculture Undersecretary for High-Value Crops and Rural Credit Evelyn Laviña said that the unloading of the first shipment of fruits will hopefully encourage the involvement of more producers, consolidators and shippers in using air cargo to transport agricultural commodities. “There will be more like this not only in domestic flights but eventually our products will reach international markets,” Ampatuan said.

‘Almost miraculous’ LFS stirs LMB and LRA online data-sharing system lawmaker’s optimism on job paves way for ‘seamless’ land transactions generation amid Covid-19 By Jonathan L. Mayuga @jonlmayuga

LEADER of the House of Representatives on Thursday laid out a broad outline for a jobcreation plan for the rest of the year following the “almost miraculous” results of the Labor Force Survey (LFS) of the Philippine Statistics Authority (PSA). While LFS results show the resilience of the Philippine economy, House Committee on Ways and Means Committee Chairman Joey Salceda urged Congress to pass jobcreating measures. “The second quarter job numbers are almost miraculous and demonstrate that the country’s underlying economy remains fundamentally resilient, despite seemingly slower progress in aggregate demand. This is a strongly encouraging sign that our economy can return to its high-growth path as soon as we can defeat Covid-19. At the same time, we will have to work on restoring confidence among consumers and businesses,” the lawmaker said. “7.5 million more Filipinos went to work in the second quarter compared to the first quarter. This is a remarkable development. The unemployment rate also declined from the April highs of 17.7 percent. This means that as we gradually reopen the economy, we will see further improvements in the job situation,” Salceda added. According to the LFS data, yearon-year and the number of unemployed persons increased by 2.1 million but declined 37 percent compared to the first quarter, when the most stringent lockdowns were implemented. “We should be able to achieve further improvements during the rest of the year with the Bayanihan 2 stimulus coming, and if we can keep Covid-19 contained. I already have the assurance of the Executive

[branch] that there will be funding for an ‘enhanced’ Build, Build, Build [program],” Salceda said. “Around 25 centavos of every peso spent on infrastructure goes to labor costs, so infrastructure will be crucial. In the private sector, I also expect an immediate boost of at least 300,000 new jobs due to the passage of the Corporate Recovery and Tax Incentives for Enterprises and the investor confidence and certainty that it will induce. I hope the Senate passes this soon,” the lawmaker said. According to Salceda, the construction of the Bulacan airport and the digital economy improvements will create more jobs for Filipinos. “The need for job creation is also why I strongly pushed for a revision of the proposed New Manila International Airport franchise and the adjacent economic zone. Under the original proposal, the franchise and ecozone components would have been tackled together in one bill, with potentially contentious tax and economic provisions,” Salceda said. “It’s a relief that we were able to reemploy 7.7 percent of the labor force in the span of a quarter. Clearly, the fundamentals of the economy are strong. We will do even better with CREATE and other job-creating initiatives such as the P740-billion Bulacan Airport, and improvements in the digital economy,” he said. Salceda submitted an urgent aide memoire to the House leadership outlining his recommended changes to the original proposal under House Bill 7241. The subsequently revised franchise under House Bill 7507 and ecozone bill under House Bill 7575. Salceda added the shift to the digital economy and to agriculture was the main driver of improvements in the job figures. Jovee Marie N. Dela Cruz

DICT activates free Wi-fi access points in Zambales

EPARTMENT of Information and Communications Technology (DICT) has activated free Wi-fi access points in hospitals and schools around Zambales province, whose sites have been previously listed as “unserved and underserved.” The sites where the free Wi-fi access points were launched are: President Ramon Magsaysay Memorial Hospital, Masinloc Isolation Facility, Candelaria District Hospital, San Marcelino District Hospital, and Kolehiyo ng Subic, among others. “Our goal had always been to make Zambales a showcase for ICT initiatives by helping the province meet its connectivity demands for the new normal,” DICT Secretary Gregorio B. Honasan II said. He explained that Zambales is home to communities that either lie outside of commercial Internet

service coverage, or those that lack sufficient ICT infrastructure to support either wired or wireless Internet connectivity. Honasan said the rollout of Internet access sites is “very timely for the province,”asdemandforInternet connectivity continues to rise given the limitations on education and employment. He added that his group “is continuously facilitating the installation of Internet hot spots in public elementary and high schools and state universities and colleges, including the provision of technical assistance whenever necessary, in various areas across the country in line with the resumption of school activities.” “We shall continue to move forward with the aim of accelerating ICT infrastructure buildup,” he said. Currently, there are a total of 4,758 free Wi-fi access points nationwide. Lorenz S. Marasigan

N online data sharing system designed to provide the public with seamless and worry-free land-related transactions will soon be made available to the public. The Land Management Bureau (LMB) of the Department of Environment and Natural Resources and the Land Registration Authority (LRA) are now drafting a joint memorandum circular that would allow them to link together their respective land information databases using a software intermediary called Application Programming Interface (API), the DENR said in a statement. LMB is the agency responsible for providing direction and technical support to DENR field offices on land management and administration, while the LRA is an attached agency of the Department of Justice that handles the registration and transfer of land titles issued through administrative and judicial proceedings. API will connect the LMB’s Land Administration and Management System (LAMS) with the LRA’s Philippine Land Registration and Information System (PHILARIS). The data sharing innovation is part of the government’s intensified efforts to cut red tape and improve the quality of frontline services to the public, pursuant to Ease of Doing Business and Efficient Government Service Delivery Act of 2018, LMB Director Emelyne Talabis said.

“The new system will relieve the land title applicants from directly requesting and submitting land records from each agency as part of the verification and registration requirements,” Talabis said. “This will significantly reduce turnaround time in the processing of land transactions,” she added. Under the planned online data sharing system, applicants— through accredited geodetic engineers (GEs)—will no longer need to personally request and submit necessary requirements, such as lot status certification from the LRA as a requirement for the verification and approval of survey plans and issuance of patents by the DENR. GEs will also no longer need to submit the technical description hard copy of DENR-approved plans to LRA when registering subdivision surveys as a prerequisite to the issuance of land title certificates. “With the implementation of the data linkage eliminating manual submission of documents, not only will the efficiency of land transaction processes be improved: it will also help reduce physical contacts from clients as required under the so-called new normal brought about by the Covid-19 crisis,” Talabis pointed out. Using the API and following the agreed specified system protocols and format, acquiring data from LAMS and PHILARIS can be done without physically accessing the database servers and compromising data security of each agency, Talabis said.

27 power projects cleared for grid impact study–DOE By Lenie Lectura @llectura

HE Department of Energy (DOE) has cleared 27 power projects for the conduct of a grid impact study (GIS). These projects, if pursued, could generate 9,681.366 megawatts (MW) of additional capacity for the country. Prior to construction, a power firm must secure the go-ahead of the DOE for it to conduct a GIS. This is necessary in determining if the electricity to be generated by the power project can be absorbed by the country’s transmission system. Based on DOE data for July and August this year, the group of Solar Philippines has lined up seven solar power projects with a capacity of 1,200 MW each. These are the Cardona Solar Power Plant and Naga Solar Power Plant of Solar Philippines South Luzon Corp.; KanangaOrmoc Solar Power Project of Solar Philippines Visayas Corp.; Maragondon 1 Solar Power Project of Solar Philippines Tanauan Corp.; Sta. Rosa Nueva Ecija 3 Solar Power Project and General Santos Solar Power Project of Solar Philippines Commercial Rooftop Projects Inc.; and Padre Garcia Solar Power Project of Solar Philippines Batangas Corp.

Solar Philippines Commercial Rooftop Projects Inc.’s 5-MW SM City Tuguegarao solar power project was also issued a GIS permit by the DOE. Universal Power Solutions Inc., a subsidiary of SMC Global Power Holdings Corp., is putting up 11 integrated renewable power facility hub (R-HUB), 10 of which have a capacity of 40 MW each while the 11th R-HUB project’s capacity is 20 MW. The DOE also issued permits to the PowerSource First Bulacan Solar Inc. for its 61.866-MW San Miguel Solar Power Plant Project; Cell Power Energy Corp.’s 20-MW Lumban Energy Storage System and 20-MW Toril Energy Storage System; 3 Barracuda Energy Corp.’s 50-MW Currimao Energy Storage Plant and 50MW Tinampa-an Energy Storage Project; JBD Management and Consulting Services Inc.’s Pakil Pumped Storage Hydroelectric Power Plant; Hydrocore Corp.’s 4.5-MW Ibulao Hydroelectric Power Plant; and Ingrid2 Power Corp.’s 300-MW diesel/gas turbine power plant project. The agency earlier issued GIS permits to 25 power projects with a total power generation capacity of 2,009.74 MW in the second quarter of the year.

The DA noted that the agreement is a huge step in ensuring smooth flow of goods during the Covid-19 pandemic since the health crisis has restricted movement of farm and fishery commodities. “The DA also partnered with the Department of the Interior and Local Government and the Department of

Trade and Industry to ensure smooth and unhampered movement in the food value chain,” it added. The DA noted that the Department of Transportation also issued an order in June for domestic shipping lines “to allot at least 12 percent of the vessel’s cargo space per trip for agricultural and food products.”

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

The World BusinessMirror

CDC tells states to get ready for Nov. 1 vaccine distribution T

he US Centers for Disease Control and Prevention has told states to prepare for a Covid-19 vaccine to be ready by November 1 and asked them to remove obstacles that would prevent distribution sites from opening. The date suggests the federal government anticipates a vaccine will become available just days before President Donald J. Trump stands for reelection November 3, an aggressive goal that would depend on shots being tested and reviewed by then. Trump’s political future hinges on the response to the virus that has killed almost 185,000 Americans. The CDC in early August told states to assume that “limited doses” of a vaccine could be available in fall. The new letter said the Department of Health and Human Services and CDC “are rapidly making preparations to implement large-scale distribution of Covid-19 vaccines in the fall of 2020,” according to a copy provided to Bloomberg. The CDC declined to comment on the letter, the contents of which were reported earlier by the news organization McClatchy.

Trump has previously said that he thinks a vaccine will be ready by Election Day or soon before. He’s also accused staff at the Food and Drug Administration of slowing vaccine work to hurt him politically. The claims have raised questions about political interference in vaccine reviews; FDA Commissioner Stephen Hahn has promised repeatedly that science will guide any decisions. Asked about the CDC letter, Health and Human Services spokesman Michael Caputo said it was “increasingly likely” that many vaccine doses would be available by January. “Doctors and data are driving the development of all Covid-19 countermeasures,” Caputo said in an e-mail. “FDA career scientists will make these calls -independent government experts solemnly devoted to assuring the safety and efficacy of all vaccines.” States have been aggressively readying themselves for a Covid-19 vaccine, and the Nov. 1 date has been consistent with earlier preparations, said Michael Fraser, chief executive officer

of the Association of State and Territorial Health Officials. Fraser said a FDA emergency-use authorization would likely be needed to distribute a vaccine that soon. The designation allows the agency to use limited data to make a vaccine available for a narrower group of people. The health officials association “would be extremely concerned about a vaccine that hasn’t completed Phase 3 trials,” Fraser said. A federal official familiar with the plans said that the Nov. 1 date is for planning only, and wasn’t meant to influence the presidential election. The official said the government is proceeding on the assumption that a vaccine will be ready.

Clearing the way

The CDC letter asks governors to expedite facility permit applications from McKesson Corp., the distributor that the government has contracted for the vaccine, and to waive rules that would prevent the sites from “becoming fully operational” by November 1. State health officials have

separately been told to get distribution plans to the federal government by October 1, Bloomberg reported this week. The Association of State and Territorial Health Officials on Wednesday criticized the Trump administration for excluding members before announcing major decisions. It called for insulating federal health agencies from political pressure. “CDC, FDA, and other federal agencies must be empowered to lead in order to maintain the scientific integrity of these decisions without fear of political retribution,” the group said in a statement from its president, Pennsylvania Secretary of Health Rachel Levine. Early supplies of any vaccine are likely to be limited. Along with making distribution plans, the government has been developing priorities for early access. An outside panel of advisers on Tuesday said that first doses should be given to front-line health workers, followed by people at high medical risk. Much of the rest of the population will likely have to wait until 2021 for additional doses. Bloomberg News

Friday, September 4, 2020

Large antibody study offers hope for virus vaccine efforts

ntibodies that people make to fight the new coronavirus last for at least four months after diagnosis and do not fade quickly as some earlier reports suggested, scientists have found. Tuesday’s report, from tests on more than 30,000 people in Iceland, is the most extensive work yet on the immune system’s response to the virus over time, and is good news for efforts to develop vaccines. If a vaccine can spur production of long-lasting antibodies as natural infection seems to do, it gives hope that “immunity to this unpredictable and highly contagious virus may not be fleeting,” scientists from Harvard University and the US National Institutes of Health wrote in a commentary published with the study in the New England Journal of Medicine. One of the big mysteries of the pandemic is whether having had the coronavirus helps protect against future infection, and for how long. Some smaller studies previously suggested that antibodies may disappear quickly and that some people with few or no symptoms may not make many at all. The new study was done by Reykjavik-based deCODE Genetics, a subsidiary of the US biotech company Amgen, with several hospitals, universities and health officials in Iceland. The country tested 15 percnet of its population since late February, when its first Covid-19 cases were detected, giving a solid base for comparisons. Scientists used two different types of coronavirus testing: the kind from nose swabs or other samples that detects bits of the virus, indicating infection, and tests that measure antibodies in the blood, which can show whether someone was infected now or in the past. Blood samples were analyzed from 30,576 people using various methods, and someone was counted as a case if at least two of the antibody tests were positive. These included a range of people, from those without symptoms to people hospitalized with signs of Covid-19. In a subgroup that tested positive, further testing found that antibodies rose for two months after their infection initially was diagnosed and then plateaued and

remained stable for four months. Previous studies suggesting antibodies faded quickly may have been just looking at the first wave of antibodies the immune system makes in response to infection; those studies mostly looked 28 days after diagnosis. A second wave of antibodies forms after a month or two into infection, and this seems more stable and long lasting, the researchers report. The results don’t necessarily mean that all countries’ populations will be the same, or that every person has this sort of response. Other scientists recently documented at least two cases where people seem to have been reinfected with the coronavirus months after their first bout. The new study does not establish how much or which type of antibody confers immunity or protection—that remains unknown. The study also found: n Testing through the bits-of-virus method that’s commonly done in community settings missed nearly half of people who were found to have had the virus by blood antibody testing. That means the blood tests are far more reliable and better for tracking spread of the disease in a region and for guiding decisions and returning to work or school, researchers say. n Nearly a third of infections were in people who reported no symptoms. n Nearly 1 percnet of Iceland’s population was infected in this first wave of the pandemic, meaning the other 99 percnet are still vulnerable to the virus. n The infection fatality rate was 0.3 percnet. That’s about three times the fatality rate of seasonal flu and in keeping with some other more recent estimates, said Dr. Derek Angus, critical care chief at the University of Pittsburgh Medical Center. Although many studies have been reporting death rates based on specific groups such as hospitalized patients, the rate of death among all infected with the coronavirus has been unknown. The news that natural antibodies don’t quickly disappear “will be encouraging for people working on vaccines,” Angus said. AP

Friday, September 4, 2020 • Editor: Angel R. Calso

Opinion

BusinessMirror

www.businessmirror.com.ph

editorial

Fundamentals or confidence: Which is more important?

N September 15, 2008 a global financial services firm and the fourth-largest investment bank in the United States declared the largest bankruptcy in US history. This was triggered by massive defaults in the subprime mortgage market that rippled throughout the global financial system. This event was the tip of a fundamental problem in the financial system. During the following two weeks, the Dow Jones Industrial Average fell some 6 percent. Several other private and government owned financial institutions, including “Fannie Mae,” “Freddie Mac,” and American International Group (AIG), experienced severe financial problems. Investment companies Goldman Sachs and Morgan Stanley scrambled to shore up their balance sheets. However, when the government passed Troubled Asset Relief Program on October 3, 2008, the Dow then fell from over 10,000 to mid 7,000 levels in five days. TARP was created to “stabilize the country’s financial system, return to economic growth, and restore confidence.” Since the beginning of the year, we have heard the Bangko Sentral ng Pilipinas (BSP) and its Governor Benjamin Diokno speak repeatedly about the fundamental soundness of the Philippine economy and financial system. “Diokno also dismissed as “grossly exaggerated” the negative reactions from several quarters on the second-quarter gross domestic product decline because of the Covid-19 pandemic, saying the economy was fundamentally sound and strong.” Diokno’s statements: “The Philippines has enjoyed strong and sustained economic growth founded on sound macroeconomic fundamentals.” “The Philippines’s strong macroeconomic fundamentals continue to support the peso.” “The Philippines’s macroeconomic fundamentals remain sound despite a record contraction of gross domestic product due to the impact of the coronavirus pandemic.” Former Sen. Manny Villar weighed in on the pages of BusinessMirror in his column: “We have solid macroeconomic fundamentals that will shield the Philippines from a possible slowdown in global economic growth.” Those assessments about the Philippine economy are not an exaggeration when you look at the bigger picture. In fact, that is probably why the local stock market recovered from its 2020 low at about 4,500 to the current 5,700 area. However, the stock market does not look very confident about the future. The Dow Jones dropped some 30 percent after TARP was passed into law because investors were not confident that the government could make a positive impact with that program. While the stock market is not any indication of the strength of the economy, it is a clear and reliable indication of confidence. We think that investors wanting short-term game are disconnected from the rest of the business community. However, stock market investors plainly reflect the rest of the business community. Investors can see if companies are increasing or decreasing their capital expenditures, which in turn will generate future profits. Investors know whether listed companies in general and specifically are in expansion or contraction mode. A nation’s economy is built upon confidence and then it moves in anticipation of events that often may never even happen in the future. “Fundamentals” are what you have done for me yesterday and maybe today. “Confidence” is what I think you are going to do for me in the future. Positive confidence in the future is going to determine what actions we take today. Since 2005

BusinessMirror A broader look at today’s business

Bayanihan 2–Keeping the economy going Sonny M. Angara

Better Days

he Covid-19 pandemic, undoubtedly, is a historical and global turning point. The term “new normal,” in fact, is a telling indicator of just how much has changed. For the pandemic affects not only a person’s health, but also his or her ability to work, travel, interact in public spaces, and become a productive citizen. And this is why our economy is taking a big hit, resulting in some very disconcerting numbers for the second quarter of the year. Consumer spending went down by 15.5 percent. Household consumption fell by 10.7 percent. And as of April, the unemployment rate was at 17.7 percent—translating to about 7.3 million people jobless. All these contributed to why our economy shrank by 16.5 percent, putting us technically into a recession. This is why the Bayanihan to Recover As One Act, or Bayanihan 2—which the House and the Senate recently passed—has several

What ‘revgov’ implies

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T. Anthony C. Cabangon Lourdes M. Fernandez

provisions aimed at providing aid in various ways to both consumers and businesses, in a bid to keep the economy going. When it comes to paying bills and loans, Bayanihan 2 provides for a one time 60-day grace period for the payment of all loans that are due on or before December 31, 2020. Utility providers for water, electricity, telecommunications, and other similar services will also be directed to provide a 30-day grace period for bills that fall within the period of enhance community quarantine or modified enhanced community quarantine, with a similar provision for the pay-

rothers and sisters, the discussion about a revolutionary government or “revgov” dominated the news and social media this past week.

In establishing this kind of government, the Constitution that ordinates one government led by a president freely chosen by the people will be set aside. This will be replaced by a federal form of government, which, according to those pushing for revgov, can only happen if President Duterte leads the revgov after December 2021. If the revgov exists, constitutional succession or the succession of the vice president in case the current president can no longer fulfill his duties, would no longer be followed. If the group that promotes revgov prevails, President Duterte will continue as president in the revolutionary government. And since this government doesn’t recognize the Constitution, Duterte may even remain in position as long as he wants, and he oversees every branch of government.

President Duterte’s supporters introduced this initiative after the news spread about his critical condition. As expected, the palace denied this. President Duterte also distanced himself from the group pushing for revgov. He said he doesn’t know who are in this group, even if he attended a huge meeting of the group a few years ago. Some members of this group were also assigned by President Duterte in different positions in government. And in some instances, President Duterte warned that he is ready to declare revgov in order to arrest his critics. Although there are some people who say that we shouldn’t take the group’s assertion on revgov seriously, Defense Secretary Delfin Lorenzana made sure to remind the public that this kind of government is illegal and it violates the Constitution. Even the

Other provisions in Bayanihan 2 are forward-looking in terms of helping businesses recover. Under the approved measure, government financial institutions will receive about P55 billion to provide low-interest loans to sectors badly affected by the pandemic.

ment of residential and commercial rent payments of lessees who are not permitted to work within the community quarantine period. Deadlines for the filing and submission of documents, tax payments and other fees required by law will also be moved. Meanwhile, the net operating loss of businesses for the taxable years of 2020 and 2021 will be carried over as deductible from gross income for the next five taxable years. Finally, retirement benefits that officials and employees in private firms will receive from June 5 to December 31 of this year will be exempt from taxation. All these grace periods and specific exclusions are to support both businesses and employees, as the necessary suspension of busi-

As said in the book of Proverbs 29:4, “By justice a king gives a country stability, but those who are greedy for bribes tear it down.” Setting the Constitution aside is only a hint that good governance isn’t occurring, that there isn’t stability in our nation. Philippine National Police and the Armed Forces of the Philippines are against revgov. They will remain true to the Constitution and to the flag that is embodied in every citizen and the state. The assurances from those who defend our independence as one country and those who maintain order in our nation serve as rays of light. Some say that promoting revgov is one way for the President’s supporters to divert the public’s attention from the lack of action the administration has taken during this Covid-19 pandemic that we are enduring. This would cover the controversies involving PhilHealth’s personnel that President Duterte himself assigned. But a more resounding reason would be to make sure that the administration would not fall at the hands of Vice President Leni Robredo in case something unfortunate happens to President Duterte who was rumored to be severely ill. In other

ness activities during the quarantine has made it hard for business owners and their staff to settle obligations. Other provisions in Bayanihan 2 are forward-looking in terms of helping businesses recover. Under the approved measure, government financial institutions will receive about P55 billion to provide low-interest loans to sectors badly affected by the pandemic. P10 billion of this will serve as additional funding for the Small Business Corp. for its Covid-19 Assistance to Restart Enterprises program for providing low-interest loans to micro and small enterprises, tourism businesses, cooperatives, hospitals, and even displaced overseas Filipino workers. This will support an estimated 100,000 enterprises and 200,000 workers in all. On the other hand, Landbank will receive about P18.5 billion, also for lowinterest loans, while the Development Bank of the Philippines will get P6 billion. The Philippine Guarantee Corp. will also receive P5 billion to bolster its credit guarantee program. All these institutions will have standby funds, in case more See “Angara,” A7

words, these supporters wish to keep their idol in power. Power that should be passed down to one destined by the Constitution to succeed as the highest leader in government the moment the former is no longer able to lead. This is not right. It is said in the Catholic social teaching Centesimus Annus that the Holy Church recognizes the democratic system of government because it ensures the participation of the people and hold leaders responsible to be replaced by others in a peaceful way. The Church discourages the forming of a reigning group aiming to use the power of the State for their own interests, the interests of a few, or in asserting their ideologies. Brothers and sisters, the strength of a nation is brought by good governance. As said in the book of Proverbs 29:4, “By justice a king gives a country stability, but those who are greedy for bribes tear it down.” If our leaders are focused on what is truly good and just, everyone would flourish. Setting the Constitution aside is only a hint that good governance isn’t occurring, that there isn’t stability in our nation. Make it a habit to listen to Radio Veritas 846 Ang Radyo ng Simbahan in the AM band, or through live streaming at www.veritas846.ph, and follow its Twitter and Instagram accounts @veritasph, and YouTube at veritas846.ph. For your comments, e-mail veritas846pr@gmail.com.

Opinion

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The heavy cross of Archbishop Oscar Cruz

annotations

Manny F. Dooc

rchbishop Oscar V. Cruz was born on November 17, 1934 in Balanga, Bataan. On August 26, he died from multiple organ failure caused by Covid-19 infection at age 85. He was the first Filipino Rector of San Carlos Seminary. He served as Auxiliary Bishop of Manila, Archbishop of San Fernando and later as Archbishop Emeritus of Lingayen-Dagupan. He completed his seminary studies at the University of Santo Tomas Central Seminary and earned his Theology at the Lateran University. He was also a canon lawyer. Cruz authored several books on religious subjects, which are well read by both the clergy and the lay people. He was an outspoken man of cloth who was an uncompromising nemesis of gambling, corruption and other social ills of the country. After his retirement in 2009 at the age of 75, he acted as the judicial vicar of the National Appellate Tribunal of Appeals in the Philippines. He devoted his life to a crusade against gambling, particularly jueteng, which he described as a “veritable social cancer.” This illegal numbers game has funded political campaigns and a source of graft. “It foments indolence and dependence on luck.” He joined marches and rallies against gambling, corruption and supported land reform. He visited farmers as they camped outside the DAR Building and brought food to them. He celebrated masses with the poor and led their prayers. He denounced government officials, including the top military brasses that were protectors of illegal gambling. He had the guts to name them and in the process got sued. One time, he was issued a warrant of arrest but was released on bail when libel cases were filed against him after accusing the Philippine Amusement and Gaming Corp. of engaging its female employees as “guest relations officers” during the birthday celebration of First Gentleman Mike Arroyo. He did not mince words in assailing their depraved acts and would call them rascals in their faces. I recall a couple of congressional hearings where he served as a resource person where the subpoenaed ranking government officials would be fidgeting on their witness seats, discombobulated by his blatant assertions. Archbishop Cruz did not spare his fellow priests from his crusade against venalities and corruption. Our holy men also suffer from human frailties like you and me. He exposed sexual indiscretions committed by these supposed holy men. He once said: “Ano sila sinusuwerte? Gagawa sila ng kalokohan tapos gusto nila solusyunan ng simbahan?” He wrote the “CBCP Guidelines on Sexual Abuse and Misconduct: A Critique” that serves as textbook on the subject. We can recall the earlier exposes he made against Monte de Piedad, a bank previously owned by the Catholic Church, when it suffered from a rush of deposit withdrawals in 1996. Some years later in 2003, a newspaper magazine published Bishop Crisostomo Yalung’s affair with a young parishioner. This was followed by an article dealing on the alleged sexual harassment complaint lodged against the venerable Bishop Teodoro Bacani. Even a revered institution like the Church has skeletons in its closet and they didn’t escape Archbishop Cruz’s condemnation. Archbishop Cruz would not hesitate to call a spade a spade. When he was the president of the Catholic Bishops’ Conference of the Philippines , a dormant organization turned into a vibrant assembly of bishops when he took over its helm,

Angara. . .

continued from A6

is needed. These are just some of the interventions encompassed in Bayanihan 2 for keeping our economy afloat, both in the short and long terms. Hopefully, President Duterte signs the measure soon, so that both our

Bishop Soc Villegas, Cruz’s successor in Lingayen-Dagupan Archdiocese, eulogized his predecessor by writing on his Facebook: “He was a faithful shepherd. He was a courageous prophet. He was a brilliant canon lawyer. My heart is grateful that in this lifetime I met a great churchman like Archbishop Oscar V. Cruz.” Cruz was accused of irregularity as a man of cloth. The accuser called him names and one who was unworthy of his sacred calling. A press conference was convened at the CBCP office in Intramuros, Manila that the accuser with his lawyer and a couple of supporters personally attended. Quietly, Cruz also joined the conference and sat on the table together with his accuser. In the course of the conference, the charges were repeated by the person who allegedly had personal knowledge of the irregularity. Cruz just sat and listened stoically without saying a word. The conference was concluded without the accuser recognizing Cruz, who was seated almost next to him. Cruz’s silence spoke volumes, and he never taunted his accuser. The poor guy was never heard from again. The Church is a tightly cloistered institution and is not known for its transparency and openness. While it admits its shortcomings, it’s slow in adopting reforms. When the wind of change finally blows, let’s not forget the whiff of reform that Cruz had brought. In the words of Senator Francis Pangilinan, Archbishop Cruz was “an activist who fought against corruption and other wrongs of society not just on the pulpit but in the streets with the people. He lived out what he preached—justice, equality and compassion for the needy.” Cruz saw both the imperfections in and outside of the church, the clergy and the laity and their officialdoms, and he did not hesitate to blow the whistle. When President Duterte was still seeking the presidency in 2016, Cruz called him “a dangerous man and worse than a dictator.” Fear was not in his vocabulary. It was a heavy burden and carries a great amount of risks, but Cruz embraced his cross. Bishop Soc Villegas, Cruz’s successor in Lingayen-Dagupan Archdiocese, eulogized his predecessor by writing on his Facebook: “He was a faithful shepherd. He was a courageous prophet. He was a brilliant canon lawyer. My heart is grateful that in this lifetime I met a great churchman like Archbishop Oscar V. Cruz.” We all are. enterprises and our workers are able to adjust to the new normal, and get our economy running again.

Senator Sonny Angara has been in public service for 16 years—nine years as Representative of the Lone District of Aurora, and seven as Senator. He has authored and sponsored more than 200 laws. He is currently serving his second term in the Senate. E-mail: sensonnyangara@yahoo.com| Facebook, Twitter & Instagram: @sonnyangara

And when September goes, we shall all be counted Tito Genova Valiente

TELLTALES

Friday, September 4, 2020

easting on its national heroes on the last day of August, the country began counting its people on the first day of September.

It was census all over the archipelago. Except for a few places where the spread of Covid-19 was surging, the entire country was subjected to the national census of population. Even as two young man and woman were at our gate, the other households were also experiencing this intervention on a grand scale. You could hear the command: Go forth and count them all. This census was supposed to take place in May but the pandemic halted everything—from schools to offices, from parties to the holy sacrifice of the Mass. And now this intervention was happening. The last census in 2015 counted us at 100.9 million people. Under Spain, we would have been counted as souls. And yet, the colonial histories under Spain, then the United States of America always involved a kind of counting. Population was marked by colonizers because any decrease in the number of men could be a victory in the colonizer’s battle against the insurgents, or any noticeable diminishing in the general population could implicate the presence of diseases. Even as late as 1912, the publication date of the book by James Blount, entitled The American Occupation of the Philippines 1898-1912, the discrepant description of the Filipinos as colonized had not been altered. Blount who described himself in the book as “Officer of the United States Volunteers in the Philippines, 1899-1901” and “United States District Judge to the Philippines, 1901-1905,” had this to say of us in his preface: To have gone out to the other side of the world with an army of invasion, and had a part, however small, in the subjugation of a strange people, and then to see a new government set up, and, as an official of that government, watch it work out through a number of years, is an unusual and interesting experience, especially to a lawyer. “Strange” as we were, we were counted. It also appears that the invasion started with the military but continued with health practitioners whose idea of the islands was as a

place of contagion. The present-day census aims at counting population—living human beings. In colonial Philippines of 1900, the counting of deaths was obvious. Death then was always connected with a report on diseases, with smallpox and the vaccination made for its eradication appearing in many documents. In one online document, Immunization and Hygiene in the Colonial Philippines, by Warwick Anderson, there is a mention of the American civil health service reporting about its enforced smallpox vaccination in the islands. The paper notes how the “annual deaths from smallpox during the Philippine-American war were estimated at 40,000; yet in 1913, only 823 deaths were reported.” Published in the Journal of the History of Medicine, January 2007, the paper has vignettes about us as a people: “Most Filipinos, mindful of the smallpox outbreak during the war, came voluntarily to the vaccinators, but the few who did not were tracked down. During the early vaccination programs, soldiers often accompanied

the vaccinators. Sometimes Filipinos actively resisted their serological protectors.” Citing the case of Batangas, it writes how in 1902, the teams would “enter first the most crowded houses and drive the inmates to the farthest room, then working at the doorway, natives are led out singly and each of any age not showing pock-marks, vaccinated.” The report mentions “pacified areas, where vaccinators depended more on the cooperation of local officials.” Perhaps, because of the political situation then, the military was very much a part of the health operations. The memories of an army medical officer startle even now: “No small problem to sanitate eight millions of semi-civilized and savage people, inhabiting scores of islands with the aggregate area of a continent.” These facts appear to resonate at present where the military is also at the forefront albeit with different, always distorted results. The difference is that, in the case of the American colonial government, the health officers were part of the military campaign: “Mass vaccination against smallpox was evidently an important activity of American colonial health authorities in the Philippines. These campaigns, conducted with a military rigor, permitted the early registration of the population of the archipelago.” Personal and domestic hygiene meant in those years the building of structures that will provide clean supply of water. Heiser, the chief health official of the colony, was quoted as imagining himself

Keep looking for the upside Susan V. Ople

Scribbles

his morning, I woke up to see my first green siling labuyo turn a bright, glorious red, while rooted in its humble clay pot. Pre-Covid days, I wouldn’t even know how it grew, and what its leaves looked like. I dislike spicy food. Yet, here I am—enthralled by my tiny chili pepper dangling from the slimmest stem, so delicate and beautiful in its being. Last week, I completed four rounds of chemotherapy. Do you know what a personal blessing it is to be able to even write that sentence? OMG. Well, I am glad that you don’t know because that means you’re cancer-free. But hey, it’s no secret to friends and family that I have Stage 2 breast cancer. Last February, I had a tumor removed from my left breast, which basically demolished the lot, leaving behind what appears to be a tiny house standing next to a medium-rise condo on my lopsided chest. After surgery, came a series of chemotherapy treatments. I need to have 8 cycles of chemo so I have reached my mid-way mark. But, hey, four rounds! And these are said to be the most difficult

rounds of chemotherapy, the dreaded A/C or as breast cancer survivors and “thrivers” call as the “red devil.” So toxic is the first medicine to be infused that you pee in red because such is its color. Well, been there, done that. I have four more cycles to go, but now using a different medicine at a much lighter dose. What is the upside? Hair. I lost around 80 percent of it during my first four cycles. This morning, I see growth. Of course, some of you may lecture me that the upside should be my finishing the first four cycles. My quick retort would be: “Have you lost your hair to drugs?” Pre-chemo, I had scrunchies and ponytail bands in my bag. Now, I scrunch my face, because I have no hair. So, any sign

of growth is good. I have so many bald friends who’d be thrilled to see signs of hair regrowth. My hair will hopefully grow back, better. Pre-Covid times, I owned several rosaries but never had the desire or the need to pray the mysteries. Like books standing on shelves, they were just there. During this pandemic, praying the rosary at night with my family has become life’s biggest joys. I fall asleep knowing God is here, there, and everywhere and that Mama Mary loves me. I now read and share books written by Father Jerry Orbos, SVD, the priest with dimples and an acoustic guitar that loves to sing Beatle songs and share stories of his own bout with lung cancer. He introduced me and so many other cancer patients to Saint Ezekiel Moreno, the patron saint of people with cancer. Whenever I feel something, good or bad, I talk to St. Ezekiel. The upside in life is that it is never too late to revive your faith. I am now a fan girl of priests who make sense, and of rosary beads that account for prayers uttered with fervor. I spend more time searching for the homilies of Father Jerry on YouTube than watching politicians pontificate on the evening news. People who rely on government to lift them up are missing the point of this pandemic. Rely on people who love and know you, and rely on your

“washing up the Orient.” The said health official is also the source of observations, where he cites as obstacles the “unsuitable dietary of the people, their peculiar superstitions concerning the contraction of the disease, their almost unshakable fear of night air as a poisonous thing, a fear which has kept their houses tightly closed at night for generations past, their habit of chewing betel nut which has made the custom of expectorating in public.” Nearly a century later, our health researchers are bound to encounter the same situations. It would be more interesting if the present-day census will take up health-seeking behavior. They will not; the census, despite its coverage, will not be dwelling on health matters. It is a census of population. These enumerators will not be accompanied by soldiers, the assumption is that the people will cooperate. If they will not, then they must be ready to shell out P100,000. There are other instructions for the field enumerators: they should stand outside the gate (assuming the homes have gates), they should maintain distancing, and they should wear face mask and shield. There is also a report saying that when the budget for this census was made, Covid-19 was not yet present. As a result, there is no fund for the testing of fieldworkers. Welcome to the new census. Welcome to new carriers of virus and/ or victims.

E-mail: titovaliente@yahoo.com

inner gifts and talents, but always trust that God is in control. Please look at the upside of things. Do not mope because you choose to prefer sad over glorious, and anger over love. Peace comes with love, not with anger. Moping causes wrinkles. I look outside my window, which I now see needs to be cleaned, and see the brightness of the sky. The sun is out, and the –ber months are in. Three months from now, I shall have finished the last four cycles of my chemotherapy. I will be able to celebrate the month of December knowing that I have seized every medical opportunity to heal myself. Are you healing yourself, too? I learned through months of cancer treatments that time will always be in great deficit. The upside is that we have enough of it to make a real difference. Live life always looking for the upside. Like the siling labuyo turning red in my urban garden, there are miracles before you, spiced with joy. In time, this global pandemic will pass. Meanwhile, what are you doing different or better to prepare for the rest of your life? Do not lock down your spirit. Live. Always look for the upside. Whoever you are, rich or poor, fat or thin, sick or healthy—know that you are loved, up and beyond galaxies far, far away. Isn’t that the best upside of all?

A8 Friday, September 4, 2020

DOF, AMLC vow tougher drive vs money laundering, terror funding A By Cai U. Ordinario

@caiordinario

NEW anti-money laundering drive aims to prevent the Philippines from becoming a “safe harbor” for money laundering and terrorism financing, according to the Department of Finance (DOF). In a statement on Thursday, DOF and the Anti-Money Laundering Council (AMLC) signed a new memorandum of agreement (MOA) to strengthen the cooperation between the two agencies in the fight against money laundering. The new MOA aims to improve the exchange of information between DOF and AMLC in detecting, investigating, and prosecuting persons suspected of money laundering, and terrorism financing.

“ This updated MOA underlines the unrelenting drive by the Duterte administration to flush out money launderers and terrorist financiers and stop the Philippine financial system from becoming a harbor for their nefarious activities along with other AMLA violations,” Finance Secretary Carlos G. Dominguez said. The DOF and AMLC previously signed a MOA on information-sharing and capacity building in 2014 to

facilitate the efficient investigation and prosecution of officials and employees of revenue-generating agencies engaged in smuggling and graft and corruption. DOF said the revised MOA aims to further institutionalize mechanisms for the efficient exchange of information. Created under Executive Order (EO) 259, Series of 2003, RIPS is the anti-corruption arm of the DOF, which under the MOA may request financial information from the AMLC to support its probe of suspected money laundering activities. The MOA allows these information requests to include those needed in probing other violations of the AMLA by officials and employees of the DOF and its attached agencies, including their family members. “As the countr y’s situation evolves, so does the fight against

money laundering and terrorism financing. This MOA represents another chapter of collaboration and information-sharing between the DOF and the AMLC,” AMLC Secretariat Executive Director Mel Georgie Racela said. The RIPS is tasked to investigate allegations of corrupt practices of officials and employees of the DOF and all its agencies, such as the Bureaus of Internal Revenue (BIR) and of Customs (BOC). It investigates unusual or unjustified accumulation of wealth disproportionate to the earning capacity of government officials and employees. RIPS also gathers evidence and files appropriate criminal, administrative, and civil complaints against errant government officials and employees and assists in the prosecution of cases for the

recovery or forfeiture of ill-gotten wealth. The AMLC is the Philippines’s Financial Intelligence Unit (FIU). Unlike most FIUs, the AMLC is a hybrid FIU with authority to receive and analyze suspicious transaction reports, investigate money laundering and terrorism financing, and initiate the filing of forfeiture proceedings and money laundering cases. This is pursuant to the AMLC’s mandate under the AMLA, as amended, the Terrorism Financing Prevention and Suppression Act of 2012, and the Anti-Terrorism Act of 2020. The DOF, on the other hand, is the government’s steward of sound fiscal policy. It formulates revenue policies to ensure funding of critical government programs that promote public welfare and accelerate economic growth and stability.

Solons questions P600-M PhilHealth claims; Duque rues inclusion by senate

SENIOR lawmaker has revealed another anomalous deal involving officials of the Philippine Health Insurance Corp. (PhilHealth). During a House hearing last Wednesday, Surigao del Norte Rep. Robert Ace S. Barbers asked PhilHealth

officials on the approval of more than P600 million in late payments to hospitals with rejected claims from 2011 to 2019. Since 2011, Barbers said various hospitals all over the country have been claiming payments from PhilHealth.

All these claims amounting to more P4 billion have been rejected by the Protest and Appeals Review Department (PARD) of PhilHealth. In an unexplainable sudden turn of events last May 2020, without the required detailed evaluation of each

claim, PARD reversed its decisions and decided to grant its version of an “amnesty” by paying all these hospitals, the lawmaker said. However, he said the board only allowed a little over P600 million to be paid, out of a total of more than P4 billion in claims. “First, each claim should have undergone detailed scrutiny and evaluation before being reconsidered. Second, how do you evaluate claims from two to nine years ago? Third, why the need to pay those claims that have undergone evaluation and have been rejected a long time ago for various reasons? Fourth, if the reason for resuscitating them is because PhilHealth erred, then these officials are liable for gross negligence and gross neglect of duty under the Anti-Graft and Corrupt Practices Act, for sitting on these transactions all these years,” Barbers said.

‘Not an easy thing’ Meanwhile, Health Secretary Francisco T. Duque admitted that attending to various concerns of his agency, Inter-Agency Task Force and PhilHealth are not “an easy thing.” “These are not normal times and it is not easy for me to just accept all the blows. I attended the Senate hearing to cooperate with the Senate in ascertaining the truth. I am disappointed though that the Senate has recommended the filing of charges against me when I have not done any wrongdoing,” said Duque. “How can the Senate implead me on Resolution No 2515 series 2020 [Annex A], of which I did not participate in the deliberation and did not sign the said document? Why are they pinning me when the rest who participated in the deliberation and signed the IRM resolution were not included? Is the Senate so intent in removing me that they invent a finding that is not supported by official documents?” he said. In April 2020, 14 senators called on Duque to resign. Duque was included by the Senate’s Committee of the Whole in its PhilHealth findings on two counts: implementation of the Interim Reimbursement Mechanism and the failure to withhold tax liabilities of health-care institutions which Philhealth released IRM funds to, among others. “If the findings are by design so that they can remove me, let it be said that I have a constitutional duty to do my job unless the President says otherwise. If my service is no longer needed, I will go but I will clear the name of my father first because I have not caused any injury to government. We may have differences in policies, on how to manage the pandemic and the like, but I continue to do my job despite the attacks made

against my person,” Duque said.

2 Senate reports Meanwhile, Senate President Vicente Sotto III said he sees no conflict in two reports submitted by the Committee of the Whole and the Blue Ribbon Committee that conducted separate inquiries into the multimillion PhilHealth fund mess. “As I said, malamang complementary kasi so yung pinapasabi kanina na narinig ko na palusot nung isa sa official ng dating PhilHealth, ang sinasabi ay bakit daw kami nag concentrate sa kanila, mas malala daw yung nangyayari sa hospital at saka sa mga doctor,” Sotto said, referring to the report of Blue Ribbon Chairman Sen. Richard Gordon. Sotto noted that the Committee of the Whole did not tackle that issue anymore. “It was Senator Gordon and the Blue Ribbon that tackled that issue, we did not,” referring to the Senate Committee of the Whole hearings on the PhilHealth mess. Moreover, Sotto observed that “the total of IRM funds involved and what happened to it was ‘unbelievable and unacceptable.”’ As 22 senators signed the report he did not foresee any problem in its adoption by the plenary so it can be promptly forwarded to the Department of Justice and the Office of the Ombudsman for appropriate action. The Senate leader recalled that Duque was included for indictment being Chairman of the Board of PhilHealth. “Even if you consider what he says that he didn’t sign anything, but of course he didn’t because he is not voting; but he is the chairman of PhilHealth.” Sotto advised Duque to look up Article 217 ng Revised Penal Code which directly dealt with malversation of public funds or property, noting it provides that “any public officer who by reason of the duties of his office is accountable for public funds or property, shall appropriate the same or shall take or misappropriate, or shall consent through abandonment or negligence, shall permit any other person to claim such public funds or property wholly or partially or shall otherwise must be guilty of the misappropriation of or malversation of public funds or property.” He pointed out that “the chairman of the board leads the direction and the agenda of the board.“ I think Sec. Duque should get a good lawyer because he is practically admitting guilt to Article 217 when he says he doesn’t know.” At the same time, Sotto admitted he was at first “reluctant to discuss the issue because of the pandemic,” but decided the Senate cannot close its eyes on the issue.

Jovee Marie N. Dela Cruz, Butch Fernandez

DBM says funding for creating jobs is in budget By Tyrone Jasper C. Piad

@Tyronepiad

HE Department of Budget and Management (DBM) has given assurances that the government has set aside funding for the employment sector, which is currently fighting the surge in joblessness. DBM Assistant Secretary Rolando U. Toledo said in a briefing on Thursday that the 2021 national budget and Bayanihan to Recover as One Act or the Bayanihan II are both taking into account the need for job generation. Out of the proposed national budget for next year, P1.65 trillion and P1.35 trillion are allocated for the social services sector and economic services sector, respectively. He is expecting these budget allocations to generate job opportunities. “Through the national government programs that will be implemented under these sectors, we hope to regain our losses in our labor and employment,” he said. “For this to transpire, we aim to generate some 140,000 to 220,000 jobs next year and catalyze business activities by restarting and accelerating the ‘Build, Build, Build’ program,” Toledo added, noting that P1.11 trillion is allotted for infrastructure development. Meanwhile, Toledo reiterated that the DBM is ready to release P140 billion more to the economy once the Bayanihan II is signed into law. “Under the Bayanihan II, we have already provided around P18.82 billion to be allocated for the employment sector,” he added. Toledo said the bill is opening up opportunities to displaced workers through hiring of additional health-care providers and 50,000 contract tracers. Recently, DBM reported that it has released P389.06 billion to beef up the government agencies’ Covid-19 war chest. Toledo said that, of this amount, P63.59 billion was given to the employment sector. This includes the P51-billion small business wage subsidy program of the Department of Finance and Social Security System. “With the onslaught of the pandemic, the relevance of assistance for our workers has been even more apparent,” he said. “As we strive towards making a better normal, we will continue to support and promote initiatives that will support our workers.” The DBM official added that P3.6 billion was earmarked for digital training and upskilling of the workers. Toledo also reported that the government has registered a 26-percent growth in disbursement—amounting to P2.01 trillion—in the first half. “This uptick highlights our commitment to revive and accelerate the infrastructure program which helps boost employment generation and preservation for the remainder of the year,” he said. The Philippine Statistics Authority reported that unemployment rate climbed by 10 percent in July year-on-year. It is better than the 17.7-percent uptick in April but higher compared to 5.4-percent growth last year for the same month.

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Friday, September 4, 2020

Gonzales group asks CA to nullify SEC ruling

By Joel R. San Juan

@jrsanjuan1573

PETITION has been filed before the Court of Appeals (CA) seeking to enjoin the Securities and Exchange Commission (SEC) from implementing its August 13 decision nullifying the majority stake acquired by a group of shareholders led by the family of Jose Xavier Gonzales. In a 141-page petition filed with the Court of Appeals (CA) , Fountel Corp. and Felicitas Antoinette Inc. (FAI), both controlled by the Gonzales family, argued that the supposed fraudulent practices committed against the board of directors of Professional Services Inc. (PSI), the operator of The Medical City (TMC), is an intra-corporate dispute that falls outside SEC’s jurisdiction. They maintained that the jurisdiction belongs to the Special Commercial Court (SCC). Aside from Fountel and FAI, the other shareholders sanctioned by the SEC in its August 12 resolution were Viva Holdings (Philippines) Pre. Ltd. and Viva Healthcare Ltd. The SEC held that these group of shareholders violated the mandatory tender offer rules and committed fraud in taking over PSI. The Gonzales family and the camp of former Health Secretary Alfredo Bengzon are contesting control over PSI.

Bengzon, a stockholder of PSI, is a former member of the Board of Directors of PSI and was also previously its president and chief executive officer. The SEC’s decision stemmed from the complaint of several shareholders, including Bengzon, questioning the acquisition of the company’s majority shares by entities related to his nephew, Gonzales. In its petition before the CA, Fountel and FAI stressed that the SEC’s ruling should be nullified since this would have an impact on the collective efforts of the government and the private sector to stop the spread of Covid-19. The petitioners said the dispute involves the control and ownership of PSI, which owns and manages at least five major hospitals in Metro Manila, Pampanga, Iloilo, Pangasinan and Laguna and at least 48 clinics all over the country and 216 beds specifically for Covid-19 cases.

“All of these hospitals and clinics are presently at the forefront of the Philippines’s battle against a worldwide pandemic—and with the Securities and Exchange Commission voiding the ownership of more than 51 percent of shares in the corporation, and thereby throwing the ownership and management of these entities up in the air, operations of these frontline institutions are being placed at risk by a threatened complete change in management at a time when seamless and unhampered operations can mean the difference between the life and death of their patients,” the petitioners added. Gonzales, current chairman of the board of TMC, also expressed his disappointment over the SEC ruling. “Everything we did was guided by adhering to the law and the SRC [Securities Regulations Code], so we were surprised that the SEC, which has in its own records all our documents, claims that we did not disclose any of our actions," he said. “They themselves gave us approval to conduct a mandatory tender offer to all the minority shareholders of TMC in April 2018. But now they say we were hiding information that they themselves possessed in their files.” Furthermore, the petitioners said the SEC ruling voided several private billionpeso transactions, without the benefit of a judicial trial, and in violation of the constitutional proscription against deprivation of property without due process of law. Gonzales’s camp added that SEC was never granted the power to nullify transac-

SMC wants to ‘revive’ Pasig River By Lorenz S. Marasigan @lorenzmarasigan

an Miguel Corp. (SMC) plans to “revive” the Pasig River through a cleanup drive that is part of its P95.4-billion Pasig River Expressway (Parex) project. Ramon S. Ang, the company’s president, said Parex is a “solution within a solution,” as it will not only help alleviate traffic congestion in Metro Manila, but will also bring back to life the “biologically dead” Pasig River. “Of all the projects we have done, this will perhaps be among the most challenging, and at the same time, the most fulfilling. Not only will we be building a much-needed direct link between eastern and western Metro Manila, but we will also be leading a historic effort to bring the Pasig River back to health,” he said. Parex entails the construction of a 19.40-kilometer, six-lane elevated expressway along the banks of the river. This requires the river bed to be dredged and cleared of decades of debris and garbage, to attain its optimum depth and ensure the constant flow of water. It will also help address flooding in Metro Manila, he added. “For so many decades, even when I was young, the Pasig River had been synonymous to pollution. Many Filipinos have long wanted to clean it and revive it, bring it back to its old glory.

Filipino-owned firm wins No. 1 brand award in Thailand

Marketeer Business Magazine awards Universal Robina Corp. (URC) Thailand's Fun-O as No.1 Brand Thailand for 2019-2020, Biscuits & Crackers categories. Receiving the award are URC Thailand’s officers: (from left) marketing manager Porntip Leelalertwong, senior advisor Premchai Navarasuchitr, general manager Tanant Suwanraks, marketing director Jane Bernardo, and brand manager Vipa Vanlopnusorn. Contributed Photo

hrough a nationwide survey conducted among thousands of real Thai consumers, Universal Robina Corp. (URC) Thailand’s Jack n Jill Fun-O came out as the most popular brand in the category of biscuits and crackers. The survey was conducted by Marketeer Magazine in partnership with Kadence International (Thailand) Co., Ltd.—Japan’s leading Market Research Agency. Thus, Marketeer Business magazine awarded Fun-O as No.1 Brand Thailand for 2019-2020, Biscuits & Crackers categories. URC Thailand’s Marketing Director, Jane Bernardo said, “This award inspires us even more to continue delighting our Thai consumers with innovative and world-class products.” One of the largest food and beverage manufacturing companies in the Philippines, URC has expanded its presence in the ASEAN and Oceania regions. It also exports to markets like the US, Europe and New Zealand. URC is known for well-loved brands like Chippy, Great Taste, Magic Crackers, Piattos, Cloud 9, C2 and Nips. For 20 years now, its Thailand arm has been producing and distributing a broad range of snack and confectionary products such as Fun-O, Tivoli, Roller Coaster, Dewberry, Cream-O, Lush, Dynamite and Wiggles. Learn more about URC and URC Thailand by visiting its web sites, www.urc.com.ph and www. urcthailand.com, as well as its Facebook pages, @URCPhilippines and @URCThailandOfficial.

There were even high-profile fund-raising projects and similar initiatives to clean it. But unfortunately, not much has changed,” Ang said. Parex will start from Radial Road 10 (R10) in the City of Manila and end at a connection to the South East Metro Manila Expressway (SEMME), otherwise known as Circumferential Road 6 (C6). It is seen to reduce travel time from Manila to Rizal to just 15 minutes. From R10, or the port area, it will have entry and exit points at the University Belt area, San Juan, Buendia, Mandaluyong, Makati, Rockwell, Edsa, Pioneer St., Bonifacio Global City, C5, before terminating at C6. It is aims to provide an alternative and faster access to the country’s largest business districts—Makati, Ortigas, and Bonifacio Global City.

tions under the SRC. They added that there were sufficient evidence on record to clearly show that proper disclosures were made to the PSI Board in the course of their acquisition of PSI shares. TMC’s intra-corporate dispute started in 2018, when then CEO Bengzon refused to hold the legally mandated shareholder elections scheduled in June of that year. Doctors and shareholders, upset over the violation of their rights to vote, banded together to hold a special shareholder meeting and voted in

a new board and a new management team led by Dr. Eugenio Jose F. Ramos as CEO. Based on the audited financial results for 2019, TMC had the highest revenue on record under the first full year of Ramos; TMC Ortigas grew more than 7 percent, while at the same time managing costs which had spiraled out of control under the previous management. Petitioners also sought the issuance of an ex-parte temporary restraining order to immediately enjoin the SEC from implementing its decision.

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Friday, September 4, 2020

‘NGCP deferred rate adjustment’ mutual funds

September 3, 2020

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 189.83 -26.76% -11.64% -5.61% -24.62% ATRAM Alpha Opportunity Fund, Inc. -a 1.0501 -32.86% -13.41% -3.71% -24.02% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.5367 -36.96% -16.38% -7.78% -31.03% Climbs Share Capital Equity Investment Fund Corp. -a 0.6549 -32.04% -13.35% n.a. -27.07% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.688 -20.1% n.a. n.a. -18.99% First Metro Save and Learn Equity Fund,Inc. -a 4.095 -24.63% -9.85% -5.1% -23.15% First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.6357 -27.22% -12.83% n.a. -25.53% MBG Equity Investment Fund, Inc. -a 80.25 -31.67% n.a. n.a. -22.26% PAMI Equity Index Fund, Inc. -a 37.8843 -27.41% -10.32% -4.51% -26.12% Philam Strategic Growth Fund, Inc. -a 409.64 -24.61% -9.41% -4.55% -23.11% Philequity Alpha One Fund, Inc. -a,d,5 0.8655 n.a. n.a. n.a. -15.98% Philequity Dividend Yield Fund, Inc. -a 0.9761 -25.76% -9.54% -4.1% -24.15% Philequity Fund, Inc. -a 28.5329 -26.22% -9.24% -3.81% -24.71% Philequity MSCI Philippine Index Fund, Inc. -a 0.7467 -27.83% n.a. n.a. -26.66% Philequity PSE Index Fund Inc. -a 3.8674 -27.02% -9.87% -3.86% -25.96% Philippine Stock Index Fund Corp. -a 646.56 -26.91% -9.88% -3.98% -25.85% Soldivo Strategic Growth Fund, Inc. -a 0.5848 -36.3% -13.69% -7.88% -31.31% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.0052 -30.23% -11.12% -5.17% -28.6% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.7407 -27.15% -10.08% -4.05% -25.99% United Fund, Inc. -a 2.7004 -27.31% -8.92% -3.57% -26.08% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 86.796 -26.83% -9.45% -3.19% -25.79% Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b $1.0763 15.21% 1.02% 4.73% 4.66% 22.39% Sun Life Prosperity World Voyager Fund, Inc. -a $1.5703 10.13% n.a. 13.9% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.5758 -6.35% -4.05% -2.79% 0.83% ATRAM Philippine Balanced Fund, Inc. -a 2.0204 -12.64% -5.27% -1.72% -7.37% First Metro Save and Learn Balanced Fund Inc. -a 2.3572 -11.49% -3.85% -2.63% -10.42% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1701 n.a. n.a. n.a. -25.56% NCM Mutual Fund of the Phils., Inc. -a 1.8074 -7.91% -1.92% -0.09% -7.86% PAMI Horizon Fund, Inc. -a 3.4068 -10.81% -3.19% -1.31% -10.09% Philam Fund, Inc. -a 15.1982 -11.14% -3.45% -1.45% -10.39% -4.65% -1.5% -11.64% Solidaritas Fund, Inc. -a 1.8751 -13.01% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.1947 -18.15% -5.71% -2.75% -17.31% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9172 -10.69% n.a. n.a. -9.7% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.8094 -20.3% n.a. n.a. -18.77% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.7826 -22.68% n.a. n.a. -21.2% Sun Life Prosperity Dynamic Fund, Inc. -a 0.7849 -21.28% -6.99% -3.73% -19.48% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03891 0.52% 2.67% 1.93% 1.86% 4.07% PAMI Asia Balanced Fund, Inc. -b $1.0569 9.08% 1.61% 4.44% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.2595 13.54% 7.06% 6.79% 8.92% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.1824 6.22% 3.65% n.a. 4.76% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 368.2 4.07% 3.17% 2.61% 2.87% ATRAM Corporate Bond Fund, Inc. -a 1.949 1.87% 1.05% 0.07% 2.47% Cocolife Fixed Income Fund, Inc. -a 3.1991 3.91% 4.91% 5.02% 2.6% Ekklesia Mutual Fund Inc. -a 2.2997 3.52% 2.91% 2.3% 3.43% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4527 4.36% 3.46% 1.97% 3.97% Philam Bond Fund, Inc. -a 4.6648 4.61% 2.72% 6.68% 7.59% Philam Managed Income Fund, Inc. -a,6 1.311 5.75% 4.39% 2.47% 4.32% Philequity Peso Bond Fund, Inc. -a 3.9608 5.71% 4.38% 2.55% 4.56% Soldivo Bond Fund, Inc. -a 1.0371 8.67% 3.74% 1.96% 7.55% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1786 4.78% 4.84% 2.86% 3.35% Sun Life Prosperity GS Fund, Inc. -a 1.743 3.68% 4.18% 2.37% 2.46% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $478.22 3.09% 2.51% 2.88% 2.11% ALFM Euro Bond Fund, Inc. -a Є217.01 -1.52% 0.69% 1.17% -1.26% 2.49% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2373 3.38% 2.97% 2.77% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0263 1.54% 1.7% 1.59% 1.94% PAMI Global Bond Fund, Inc -b $1.086 -1.82% 0.02% 0.32% -0.69% Philam Dollar Bond Fund, Inc. -a $2.4915 2.64% 3.55% 3.43% 3.66% Philequity Dollar Income Fund Inc. -a $0.0610035 1.52% 2.06% 2.06% 1.17% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.2233 0.92% 2.1% 2.7% 1.51% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 128.96 3.55% 3.31% 2.51% 2.49% First Metro Save and Learn Money Market Fund, Inc. -a 1.0441 2.22% n.a. n.a. 1.73% Sun Life Prosperity Money Market Fund, Inc. -a 1.2888 2.89% 3.04% 2.61% 1.88% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0479 1.57% n.a. n.a. 0.92% Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 1.0453 n.a. n.a. n.a. n.a. Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $0.95 n.a. n.a. n.a. -4.04% 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."

By Lenie Lectura

@llectura

he National Grid Corporation of the Philippines (NGCP) said it has decided to defer the implementation of the approved 2020 interim maximum allowable revenue (iMAR) even before the Energy Regulatory Commission (ERC) released its decision suspending the iMAR. NGCP Spokesperson Cynthia Alabanza said the company has unilaterally deferred the implementation of its ERC-approved iMAR. To date, it has not implemented the rate adjustment. “NGCP is focusing its energies into finding ways to help the country battle this unprecedented global health crisis directly by deferring the implementation of the iMAR, and indirectly, by giving aid to local governments, medical institutions, and other entities in need,” she said. “Without being prompted or ordered to do so, we are already thinking of ways to balance the needs of the country for a continually strengthened power grid, and the difficulties that beset many Filipinos.” Alabanza issued the statement after the ERC promulgated an order suspending the implementation of the approved 2020 iMAR of the NGCP. The MAR refers to the maximum revenue that the grid operator is allowed to earn from its transmission operations. In a 5-page order promulgated last September 2, the ERC suspended its February 13 order granting NGCP an interim relief to implement an iMAR in the amount of P47,051,640,000. The suspension is subject to a 2020 year-end review, taking into consideration all updated economic indicators. “It is the Commission’s view that the supply and demand assumptions need to be re-assessed and analyzed as such no longer hold true in the light of economic disruptions brought about by the Covid-19 pandemic,” said the ERC. April registered the steepest decline by 20 percent to

11,840M W f rom the same month a year ago at 14,965MW. June actual demand figure has increased to 14,593MW from actual demand figures of April and May’s 13,403MW this year. The ERC said the actual power demand from January to June is crucial in determining the demand trend as it was within this period that various modes of community quarantine were enforced by the government. “ The onslaught of the Covid-19 pandemic, however, has brought about adverse fallouts that curtailed, if not totally shut down business operations. The resulting slowdown in business activities generated demand and supply shocks across various sectors, including the power industry,” said the ERC. A s suc h t he Com m i ssion deems it necessary to suspend the implementation of the approved iMAR 2020, considering that the demand forecasts, which were used as basis for its determination, are no longer valid and would therefore need to be re-assessed. With the suspension, NGCP will collect on the basis of the previous approved iMAR, which stood at P43.78 billion in 2016. NGCP’s iMAR, which are used for transmission projects and other grid investments based on the Department of Energy's Power Development Plan, are subject to ERC’s approval for every regulatory period. However, administrative concerns faced by the ERC in 2015 and 2016, which included constraints in the procurement of regulatory experts, resulted in the delay of the reset process for NGCP’s 4th Regulatory Period.

www.businessmirror.com.ph

PSE STOCK QUOTATIONS

September 3, 2020

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

ASIA UNITED BDO UNIBANK BANK PH ISLANDS CHINABANK CITYSTATE BANK EAST WEST BANK METROBANK PB BANK PHIL NATL BANK PSBANK SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FERRONOUX HLDG IREMIT MEDCO HLDG NTL REINSURANCE PHIL STOCK EXCH SUN LIFE

45.7 86.2 66 20.8 6.62 8.16 33.4 7.92 19.66 49 94.5 54.1 0.79 21.25 2.61 0.95 0.3 0.59 154.5 1937

46 86.5 67.6 20.85 8.25 8.17 33.5 8.49 19.7 49.7 94.9 54.2 0.84 22.3 2.71 0.96 0.31 0.6 157.9 1948

46 85.95 66 20.65 8.25 8.22 33.5 8.49 19.68 49.75 95 54.25 0.77 21.05 2.7 0.96 0.3 0.62 153.9 1950

46 86.5 67.6 20.85 8.25 8.22 33.85 8.49 19.7 49.8 95.75 54.25 0.8 22.3 2.77 0.96 0.3 0.62 157.9 1950

46 85.2 65.25 20.6 8.25 8.13 33.2 8.49 19.6 49 94.05 54.2 0.77 21.05 2.6 0.96 0.3 0.59 153 1925

46 86.2 67.6 20.85 8.25 8.16 33.5 8.49 19.7 49.7 94.9 54.2 0.79 22.3 2.7 0.96 0.3 0.59 157.9 1925

1000 3351160 2027830 62300 300 190400 2067000 2400 672100 1000 162870 79050 24000 13600 323000 25000 230000 171000 20790 30

46000 287679054.5 134325828 1295965 2475 1554835 69153130 20376 13174020 49575 15427963.5 4284525 18720 300630 871570 24000 69000 101130 3201857 57875

46000 -143108028.5 -15067252.5 74340 -57926 -26806525 -11765910 -9263767.5 -284540 -15600 -5900 -90860 48125

INDUSTRIAL AC ENERGY 2.7 2.71 2.75 2.75 2.7 2.7 2995000 8107290 1.26 1.27 1.29 1.29 1.25 1.26 1832000 2317310 ALSONS CONS 26.1 26.6 25.95 26.7 25.95 26.6 1022900 26991870 ABOITIZ POWER 0.186 0.187 0.178 0.188 0.178 0.186 6390000 1177340 BASIC ENERGY FIRST GEN 24.7 24.75 24.35 24.7 24.3 24.7 1518400 37244825 FIRST PHIL HLDG 60.1 61 61 61 59.9 60.1 90170 5403357.5 MERALCO 262.2 263 261.4 264.2 261 263 217900 57185782 MANILA WATER 14.4 14.5 14.1 14.5 14 14.5 4027600 57605944 3.02 3.03 3.04 3.09 3.03 3.03 344000 1044950 PETRON 10.66 11 10.8 11 10.8 11 84300 915380 PHX PETROLEUM 17.82 17.84 17.64 18.04 17.6 17.84 768600 13706554 PILIPINAS SHELL 8.97 9 9.06 9.08 8.9 8.97 134400 1210357 SPC POWER AGRINURTURE 8.03 8.05 8.01 8.17 8.01 8.05 87100 703027 AXELUM 2.56 2.57 2.4 2.56 2.4 2.56 13548000 33270560 CNTRL AZUCARERA 11.48 12 12 12 12 12 5000 60000 17.5 17.58 16.8 17.5 16.8 17.5 5384600 93025264 CENTURY FOOD 4.88 4.91 4.9 4.91 4.88 4.88 48000 235100 DEL MONTE 5 5.02 5.04 5.04 4.89 5.02 1227100 6119146 DNL INDUS 9.88 9.98 9.9 9.98 9.85 9.98 575000 5706012 EMPERADOR SMC FOODANDBEV 65.05 66 66.1 66.95 65.05 66 31360 2065689.5 ALLIANCE SELECT 0.65 0.66 0.66 0.66 0.65 0.65 414000 270390 1.16 1.17 1.17 1.17 1.16 1.17 1079000 1258080 FRUITAS HLDG GINEBRA 42.15 43 44.8 45 41.6 43 111000 4758755 137.2 137.8 137 139 137 137.8 661710 91204999 JOLLIBEE 37.05 43 43 43 43 43 200 8600 LIBERTY FLOUR 7.92 7.95 7.92 7.98 7.9 7.98 3700 29352 MACAY HLDG 4.74 4.78 4.73 4.8 4.71 4.78 177000 841880 MAXS GROUP SHAKEYS PIZZA 5.64 5.65 5.62 5.64 5.6 5.64 368500 2066123 ROXAS AND CO 1.12 1.13 1.17 1.17 1.12 1.13 6611000 7518710 RFM CORP 4.4 4.59 4.53 4.53 4.53 4.53 3000 13590 139 140 140.5 142.8 137.6 140 1117900 156776112 UNIV ROBINA 0.76 0.77 0.77 0.78 0.76 0.76 981000 752850 VITARICH 51.15 52 52.45 52.45 52 52 270 14071.5 CONCRETE A 51.1 52.9 53.9 53.9 53.9 53.9 30 1617 CONCRETE B 1.51 1.52 1.54 1.55 1.51 1.51 21460000 32840800 CEMEX HLDG EAGLE CEMENT 12.18 12.4 12.4 12.4 12.18 12.4 218000 2687242 6.1 6.11 6.29 6.29 6 6.1 2290600 13954882 EEI CORP HOLCIM 5.67 5.68 5.89 5.95 5.64 5.67 3225800 18498041 6.95 6.97 6.83 7 6.74 6.95 2609100 18,033,012( MEGAWIDE 8.37 9 9 9 9 9 5800 52200 PHINMA 0.72 0.73 0.74 0.74 0.72 0.73 159000 116220 VULCAN INDL 1.94 1.96 1.98 1.98 1.95 1.95 95000 186460 CROWN ASIA EUROMED 1.81 1.85 1.84 1.88 1.8 1.85 196000 359600 4 4.19 4 4.2 4 4.2 32000 130280 MABUHAY VINYL 4.1 4.13 4.1 4.11 4.1 4.1 47000 192720 PRYCE CORP CONCEPCION 18.66 19 19 19 19 19 100 1900 2.07 2.08 2.01 2.1 1.97 2.08 11859000 24317700 GREENERGY 5.3 5.33 5.05 5.34 5.05 5.3 325700 1703313 INTEGRATED MICR 0.96 0.97 0.97 0.98 0.97 0.97 63000 61150 IONICS 4.28 4.68 4.4 4.69 4.4 4.69 8000 35690 PANASONIC SFA SEMICON 1.37 1.38 1.32 1.38 1.31 1.37 599000 815500 5.55 5.59 5.65 5.67 5.5 5.55 1144100 6343591 CIRTEK HLDG

4005840 -7119630 -4839530 -50457 -24460350 10498102 -893150 -1124120 -9888 3964.0001 -24905480 28273348 -29400 -40701 8523.0003 -763396.5 -112570 4319760 -24942861 331360 991972 28010 -8795008 -9240 -6673020 8990007 181998 6,799,251.0001) 8200 4119700 -25098 -51359

HOLDING & FRIMS ABACORE CAPITAL 0.465 0.47 0.47 0.47 0.465 0.47 930000 436300 7.63 7.82 7.66 7.97 7.62 7.63 13800 105548 ASIABEST GROUP 699 700 704 706 695 700 369960 258644275 AYALA CORP 47.6 49 47 49 46.9 49 379500 18435265 ABOITIZ EQUITY ALLIANCE GLOBAL 6.16 6.18 6.08 6.18 6.07 6.18 6791600 41851826 AYALA LAND LOG 1.73 1.74 1.72 1.74 1.72 1.73 351000 607130 6.21 6.28 6.44 6.44 6.21 6.21 12600 78464 ANSCOR 0.52 0.54 0.52 0.53 0.52 0.52 284000 147980 ANGLO PHIL HLDG 0.55 0.56 0.54 0.56 0.54 0.56 518000 284450 ATN HLDG A 0.55 0.58 0.58 0.58 0.58 0.58 5000 2900 ATN HLDG B 5.04 5.05 5.07 5.1 5.02 5.05 1411500 7125980 COSCO CAPITAL 3.99 4 4 4.02 3.96 4 2424000 9675750 DMCI HLDG FILINVEST DEV 8.42 8.5 8.4 8.55 8.4 8.5 611900 5139995 380 381 385 393.8 380 380 371360 142057458 GT CAPITAL HOUSE OF INV 3.07 3.18 3.18 3.18 3.18 3.18 15000 47700 60.45 61.05 61 61.05 60.1 61.05 1086630 65943754 JG SUMMIT 0.61 0.63 0.61 0.64 0.59 0.62 295000 184770 LODESTAR 2.38 2.4 2.41 2.41 2.38 2.38 75000 178760 LOPEZ HLDG 8.53 8.6 8.4 8.6 8.38 8.6 1059700 9018368 LT GROUP MABUHAY HLDG 0.52 0.57 0.57 0.57 0.57 0.57 5000 2850 3.28 3.29 3.28 3.31 3.23 3.29 17109000 56242250 METRO PAC INV PRIME MEDIA 0.76 0.78 0.8 0.8 0.76 0.79 51000 39360 0.98 1.01 1 1 1 1 60000 60000 SOLID GROUP 153 168.3 153 153 153 153 40 6120 SYNERGY GRID 835 836.5 841 847 831 836.5 201400 168437500 SM INVESTMENTS 98.6 99 101.5 101.5 98 99 166240 16474980 SAN MIGUEL CORP 1.82 1.97 1.82 1.83 1.82 1.83 52000 94650 SEAFRONT RES ZEUS HLDG 0.14 0.143 0.144 0.144 0.14 0.14 280000 39440

-37600 -54323380 -3995600 9219645 -5201274 -1660830 -93601592 -22922518 -11390 -16680 -463403.0003 -24305470 -100851680 -3712724 -

PROPERTY ARTHALAND CORP 0.51 0.52 0.51 0.53 0.51 0.52 937000 486700 26.9 27 27.05 27.75 26.5 26.9 22755600 617040365 AYALA LAND 0.94 1 0.99 1 0.93 0.99 300000 292700 ARANETA PROP 25.4 25.45 25.4 25.45 25.4 25.45 943200 23976325 AREIT RT BELLE CORP 1.37 1.38 1.35 1.38 1.35 1.37 257000 352060 A BROWN 0.76 0.77 0.8 0.8 0.76 0.76 7766000 5971960 CITYLAND DEVT 0.82 0.86 0.86 0.86 0.86 0.86 12000 10320 0.121 0.123 0.124 0.124 0.121 0.124 230000 28190 CROWN EQUITIES 5.65 5.9 5.95 5.95 5.9 5.9 500 2955 CEBU HLDG 5.09 5.14 5.09 5.15 5.05 5.14 1659300 8469029 CEB LANDMASTERS 0.37 0.375 0.37 0.375 0.365 0.37 3660000 1359850 CENTURY PROP 0.26 0.27 0.255 0.255 0.255 0.255 10000 2550 CYBER BAY DOUBLEDRAGON 14.7 14.74 14.76 14.8 13 14.74 409700 5937582 DM WENCESLAO 5.95 5.99 5.92 6 5.92 5.95 676500 4028997 EMPIRE EAST 0.255 0.265 0.26 0.265 0.255 0.265 480000 123350 0.089 0.09 0.089 0.089 0.088 0.088 1440000 126920 EVER GOTESCO 0.92 0.93 0.94 0.94 0.92 0.93 4096000 3804350 FILINVEST LAND 0.79 0.82 0.79 0.79 0.79 0.79 538000 425020 GLOBAL ESTATE 7.5 7.67 8 8 7.7 7.7 39000 302216 8990 HLDG PHIL INFRADEV 1.14 1.15 1.13 1.16 1.08 1.15 5637000 6307710 CITY AND LAND 0.7 0.73 0.72 0.73 0.72 0.73 56000 40580 2.88 2.89 2.92 2.92 2.84 2.88 7929000 22802790 MEGAWORLD MRC ALLIED 0.234 0.235 0.237 0.239 0.235 0.235 8500000 2009650 1.15 1.17 1.17 1.19 1.13 1.17 257000 295560 PRIMEX CORP 14.28 14.42 14.2 14.5 14.18 14.42 1077200 15456778 ROBINSONS LAND 0.224 0.233 0.226 0.226 0.223 0.223 290000 65110 PHIL REALTY 2.66 2.72 2.67 2.67 2.67 2.67 6000 16020 SHANG PROP STA LUCIA LAND 1.95 1.97 1.86 1.96 1.86 1.96 317000 613020 27.95 28 28.1 28.4 27.7 27.95 18089500 507906145 SM PRIME HLDG VISTAMALLS 3.75 3.78 3.75 3.78 3.75 3.78 12000 45320 1.21 1.24 1.21 1.24 1.2 1.24 400000 487130 SUNTRUST HOME 3.05 3.07 3.1 3.12 3.03 3.05 1192000 3649560 VISTA LAND

-343022320 -5237765 -149030 164120 -2638045 -99900 9988 -216718 71560 7900 -258816 -168000 -8667710 59500 -4893746 76533170 -2373290

SERVICES ABS CBN 6.77 6.8 6.76 6.9 6.66 6.77 441800 2979976 5.06 5.08 5.09 5.1 5.05 5.06 338200 1716508 GMA NETWORK 0.395 0.4 0.395 0.4 0.395 0.395 50000 19850 MANILA BULLETIN 2056 2090 2050 2090 2030 2090 38920 80065190 GLOBE TELECOM PLDT 1440 1450 1422 1450 1413 1450 166400 238681505 APOLLO GLOBAL 0.051 0.052 0.052 0.053 0.051 0.053 4530000 235930 2.92 2.99 3 3 2.91 2.91 23000 68460 DFNN INC 3.32 3.33 3.31 3.38 3.3 3.33 16032000 53502860 DITO CME HLDG 1.14 1.28 1.23 1.29 1.14 1.14 32000 39780 IMPERIAL 1.56 1.6 1.51 1.56 1.51 1.56 11000 16970 JACKSTONES 2.21 2.22 2.2 2.26 2.17 2.22 8976000 19861320 NOW CORP 0.178 0.179 0.176 0.178 0.175 0.178 3510000 617340 TRANSPACIFIC BR PHILWEB 2.25 2.27 2.15 2.28 2.15 2.25 3263000 7338200 2GO GROUP 8.4 8.42 8.45 8.45 8.43 8.43 3000 25313 3.31 3.33 3.32 3.33 3.29 3.31 165000 546570 CHELSEA 35.75 35.95 36.45 36.5 35.75 35.75 107500 3868700 CEBU AIR 105 105.4 102.6 105.9 102.5 105.4 1181300 124243972 INTL CONTAINER 14.98 15.78 15 15 14.98 14.98 4500 67430 LBC EXPRESS 0.77 0.83 0.83 0.83 0.77 0.77 3000 2430 LORENZO SHIPPNG MACROASIA 4.88 4.89 4.8 4.91 4.8 4.88 1311000 6396470 METROALLIANCE A 1.55 1.58 1.6 1.6 1.55 1.55 99000 154020 5.7 5.9 5.7 6 5.7 5.7 22000 129756 PAL HLDG 1.06 1.07 1.04 1.12 1.02 1.07 7668000 8247480 HARBOR STAR 0.028 0.029 0.029 0.029 0.028 0.029 26400000 750100 BOULEVARD HLDG 1.4 1.47 1.42 1.42 1.36 1.36 5000 6900 DISCOVERY WORLD 0.375 0.385 0.375 0.38 0.375 0.38 70000 26350 WATERFRONT 6.32 6.5 6.49 6.49 6.49 6.49 1000 6490 CENTRO ESCOLAR STI HLDG 0.305 0.31 0.305 0.31 0.305 0.31 1360000 418050 2.38 2.44 2.23 2.46 2.23 2.44 764000 1810490 BERJAYA BLOOMBERRY 7 7.05 6.65 7.05 6.65 7.05 24481200 167996437 PACIFIC ONLINE 1.94 2.06 1.9 2.07 1.9 1.95 124000 250480 1.19 1.24 1.2 1.25 1.2 1.24 36000 44570 LEISURE AND RES 2.15 2.22 2.15 2.22 2.15 2.22 6000 13250 PH RESORTS GRP 0.32 0.325 0.315 0.335 0.31 0.32 41280000 13449950 PREMIUM LEISURE 6.02 6.03 6.05 6.05 5.99 6.03 1779900 10711247 ALLHOME METRO RETAIL 1.39 1.4 1.39 1.41 1.39 1.39 2746000 3842570 PUREGOLD 51.05 51.5 51.8 52.75 51 51.05 2079150 106699148 ROBINSONS RTL 67.95 68.2 68.55 68.55 67.9 67.95 646760 43977118.5 121.1 124.9 124.9 124.9 121.1 121.1 760 92302 PHIL SEVEN CORP 1.03 1.04 1.02 1.04 1.01 1.04 4161000 4276530 SSI GROUP 16 16.1 15.88 16 15.8 16 1245100 19847156 WILCON DEPOT 0.29 0.295 0.3 0.3 0.29 0.295 2030000 599500 APC GROUP EASYCALL 6.11 6.2 6.15 6.18 6.15 6.18 3200 19695 284 299 284 299 284 299 200 58600 GOLDEN BRIA 0.228 0.229 0.219 0.229 0.216 0.229 14070000 3139280 PRMIERE HORIZON 4.3 4.8 4.4 4.4 4.4 4.4 5000 22000 SBS PHIL CORP

-30690240 -66167635 579320 -1057150 33250 -250830 -2300130 10040705 -53850 61440 -12250 -51589392 70480 -845550 -6008932 -477810 -30739712.5 -13173346 83559 -317020 4046650 236250 -

MINING & OIL ATOK 7.13 7.94 7.95 7.95 7.95 7.95 200 1590 1.6 1.61 1.62 1.62 1.59 1.6 4884000 7820080 48240 APEX MINING 0.0008 0.0009 0.0008 0.0009 0.0008 0.0009 238000000 203100 -69300 ABRA MINING ATLAS MINING 3.53 3.54 3.48 3.6 3.48 3.54 450000 1580090 -215190 BENGUET A 2.8 2.89 2.87 2.9 2.5 2.89 226000 632850 2.68 2.86 2.89 2.89 2.87 2.87 15000 43200 -2890 BENGUET B COAL ASIA HLDG 0.209 0.218 0.217 0.218 0.207 0.218 470000 100780 1400 2.58 2.6 2.52 2.6 2.46 2.6 421000 1059680 129600 CENTURY PEAK 7.85 7.86 7.9 7.9 7.67 7.86 29900 230404 DIZON MINES 1.32 1.33 1.32 1.34 1.28 1.33 56665000 74105830 1094730 FERRONICKEL 0.23 0.233 0.232 0.233 0.229 0.232 100000 23090 GEOGRACE LEPANTO A 0.152 0.154 0.154 0.154 0.149 0.152 14360000 2165380 0.15 0.152 0.155 0.155 0.15 0.151 230000 34930 -16840 LEPANTO B MANILA MINING A 0.0097 0.0099 0.0098 0.01 0.0097 0.0097 15100000 148600 0.01 0.011 0.011 0.011 0.011 0.011 30000000 330000 MANILA MINING B 1 1.01 1.03 1.03 0.99 1.01 3542000 3558690 17160 MARCVENTURES 2.21 2.22 2.16 2.23 2.15 2.21 1777000 3894020 -44400 NIHAO 3.27 3.28 3.33 3.35 3.26 3.27 8963000 29426590 5499500.0003 NICKEL ASIA ORNTL PENINSULA 0.59 0.6 0.61 0.61 0.59 0.6 580000 347500 4.09 4.1 3.95 4.12 3.85 4.1 4484000 18185050 8551770 PX MINING SEMIRARA MINING 9.68 9.72 9.83 9.84 9.6 9.68 2007000 19476026 -7731303 UNITED PARAGON 0.0049 0.0051 0.005 0.005 0.0048 0.0049 16000000 78700 -58800 5.55 5.69 5.7 5.74 5.51 5.7 65900 375577 ACE ENEXOR 0.0087 0.0088 0.0092 0.0092 0.0085 0.0087 75000000 655100 PHILODRILL 5.28 5.29 5.3 5.38 5.26 5.29 1066200 5656483 -502653 PXP ENERGY PREFFERED HOUSE PREF A 100.2 100.3 100.5 100.5 100.3 100.3 810 81305 507 515 515 515 515 515 20 10300 AC PREF B2R 100.8 101.3 101.3 101.3 101.3 101.3 400 40520 CPG PREF A 100.8 102 102 102 100 100.7 62060 6240280 3021000 DD PREF FGEN PREF G 106.5 108.9 106.5 106.5 106.5 106.5 560 59640 100.1 101.5 101.5 101.5 101.5 101.5 600 60900 MWIDE PREF 96.25 96.75 96.75 96.75 96.2 96.75 28660 2760803 PNX PREF 3A 99.75 100 100 100 100 100 4700 470000 PNX PREF 3B 940.5 949 949 949 940 949 6200 5830965 PNX PREF 4 1005 1075 1080 1080 1070 1080 70 75500 PCOR PREF 2B 78.4 78.45 78.5 78.5 78.45 78.45 8860 695162.5 119307.5 SMC PREF 2C 75.35 75.9 75.3 75.3 75.3 75.3 20 1506 SMC PREF 2D SMC PREF 2E 75.55 76 75.5 76 75.5 76 110 8355 79 79.2 79 79 79 79 30 2370 SMC PREF 2F 76.05 76.75 76 76.75 76 76.75 240 18262.5 SMC PREF 2G 76 76.6 76 76.5 76 76 27310 2076875 SMC PREF 2H 78.3 78.5 78.3 78.5 78.3 78.5 14100 1106570 SMC PREF 2I PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 6.6 6.9 6.9 6.9 6.9 6.9 85300 588570 588570 4.81 4.95 4.9 4.99 4.75 4.95 1324000 6305820 GMA HLDG PDR WARRANTS LR WARRANT 0.6 0.63 0.6 0.6 0.6 0.6 20000 12000 SMALL & MEDIUM ENTERPRISES ALTUS PROP 11.54 11.64 12.02 12.02 11.54 11.54 635900 7442566 -2474844 1.82 1.85 1.8 1.85 1.78 1.85 1256000 2266580 -79000 ITALPINAS 5.12 5.2 5.1 5.13 5.1 5.12 9600 49148 KEPWEALTH 3 3.01 3.06 3.1 2.99 3.01 16981000 51799530 620810 MERRYMART XURPAS 0.5 0.51 0.54 0.54 0.5 0.51 4580000 2351820 133030 EXHANGE TRADE FUNDS FIRST METRO ETF 86.75 87.5 88.95 88.95 86.75 87.5 42680 3740612 633296

www.businessmirror.com.ph

Banking&Finance

Review PhilHealth’s actuarial life–Drilon By Butch Fernandez

@butchfBM

ollowing the conclusion of the Senate inquiry into the fund mess in the Philippine Health Insurance Corp., Senate Minority Leader Franklin Drilon on Thursday pressed for the creation of an ad hoc panel of “actuarial experts” to assess the financial status of PhilHealth and its ability to sustain the health expenses of its members. The Senator suggested creating an ad hoc committee composed of experts from the Government Service Insurance System (GSIS), the Social Security System (SSS) and the Insurance Commission to carry out the task as soon as possible. Drilon asserts the need for the review, saying it is crucial to determine PhilHealth’s actual fund today to verify how long it will last. This, he added, will also enable lawmakers to assess the financial stability of PhilHealth in order to

pinpoint the appropriate subsidy the national government needs to provide. The Senator noted there was no “clear information” on the remaining funds of the governmentowned and controlled corporation. The Senate Minoriy Leader noted it came from Finance Secretary Carlos Dominguez himself that PhilHealth’s data was a mess (“magulo”), which was why they do not know exactly how much is left in reserve funds. Drilon recalled that in a Senate hearing, acting PhilHealth Senior Vice President Nerissa R. Santiago estimated that PhilHealth funds may last only up to 2021 if the pandemic continues. In a bid to address the problem, Senate President Vicente Sotto III and Senate President Pro Tempore Ralph Recto backed the move to tap actuarial experts, apart from assuring allocation of over P71 billion budget for PhilHealth this year.

Ex-Rep. Quimbo voted AUB independent director

ormer Rep. Romero Federico S. Quimbo (second district of Marikina City) was elected as new independent director of the Asia United Bank (AUB), the bank announced after its special meeting of stockholders held last September 3. Quimbo, a lawyer, was elected by AUB’s stockholders to be part of its 9-member board of directors, the bank’s statement read. “Prior to his election to the board of AUB, Quimbo was a member of the Congress of the Philippines from 2010 to 2019. He was a Deputy Speaker of the 17th Congress, chairman of the Committee on Ways and Means of the 16th Congress and Deputy Majority Leader of the 15th Congress,” the bank said. Quimbo was also the president and Chief Executive Officer of the Pag-IBIG Fund from 2002 to 2009, during which the Fund became the only triple-A rated government-owned and operated corporation and one of the top ten taxpayers of the country. In 2016, he received the Ten Outstanding Young Men (TOYM) Award from the Philippine Jaycees, in recognition of his exemplary public service. He was an Associate of the Poblador, Bau-

BusinessMirror

ADB pressed further to stop funding coal-power projects

By Cai U. Ordinario

@caiordinario

ivil society organizations (CSOs) expressed its support for the call of the Independent Evaluation Department (IED) that the Asian Development Bank (ADB) should revisit its energy policy and avoid financing new coal projects. In a statement, a coalition of people’s movements across Asia demanding greater action to tackle climate change has called on ADB to heed the recommendations made by IED in its recently-issued evaluation report of the ADB energy policy. Lidy Nacpil, coordinator of the Asian People’s Movement on Debt and Development, said multilateral development banks have a crucial role in achieving the goal of the Paris Agreement to limit the rise of global average temperature to 1.5 °C and stabilize globa l temperature,

preventing catastrophic climate change. “It is an urgent recommendation and articulates what should have been done yesterday. And so we say to ADB: We await your immediate coal exit,” Nacpil said. In an email to BusinessMirror, the IED said the ADB approved $2.06 billion in financing for coalfired power plants between 2009 and 2019. The IED said the financing for coal-fired power plants located in Pakistan, Philippines, China and Viet Nam, accounted for a total of 4.8 percent of the total financial support of

Coffee, tea, cocktails

Quimbo

tista, and Reyes Law Offices from 1998 to 2001, where he practiced criminal, civil and appellate litigation. He completed BA History and Bachelor of Laws at the University of the Philippines in 1991 and 1996, respectively. Quimbo will join the other AUB directors, led by Chairman Abraham Co, Vice Chairman and Director Ramon Sy, President and Director Manuel A. Gomez, Directors Jacob Ng, George Chua, lawyer Lily Gruba and Independent Directors retired Supreme Court Justice Adolfo Azcuna and former Commission on Audit Chairman Grace Pulido Tan.

Friday, September 4, 2020 B3

he American Society of Association Executives (ASAE) is celebrating its 100 years anniversary this year. The ASAE was supposed to hold its in-person annual meeting and exposition for its centennial celebration in Las Vegas, Nevada, United States of America, last August 10 to 12, but the pandemic made it pivot to a virtual event. Interestingly, its past annual meeting attendance was 6,000-plus participants; this time, more than 14,000 registered for the 3-day online learning, networking and expo. The virtual program, themed “Make your Mark: Co-write the Future through the Powerful Work of Associations,” highlighted the association community’s significant contributions and profound impact on society over the last century. It also asked associations to focus on a future that requires them to innovate and exceed expectations. Through three keynotes, 92

Association World Octavio Peralta timely educational sessions, five game-changers, 57 virtual exhibit booths representing technology, business, hospitality, meeting services and endless networking opportunities during the event, the Asae encouraged associations around the world to work together to create, learn and connect to advance their missions and commit to continue making a mark in the world. The ASAE is a membership organization of more than 46,000 association executives and industry partners representing 7,400 organizations worldwide. Its members lead, manage and work in or partner with organizations in more than a dozen association man-

ADB for the energy sector. The report stated that the ADB approved $42.5 billion for the energy sector between 2009 and 2019, the second largest sector allocation after transport. “With respect to financing coalfired power plants—a contentious issue in the past few years—there is a disconnect between what the policy formally allows and what ADB finances in practice,” the IED said in the report. “[The] ADB’s stance on financing coal-fired generation is not consistent, as the Energy Policy 2009 allows such financing but [the] ADB refrains in practice from investing in these projects, which confuses counterparts and other stakeholders,” IED added. At last year’s Asia Clean Energy Forum, the CSOs said then ADB President Takehiko Nakao said the bank has plans to stop funding coalfired power plants except in selected countries where the bank considers

the alternatives to be limited. Based on 2015-2016 data of the think-tank E3G, ADB’s fossil finance is slightly higher than its energy related climate finance at a ratio of 1:0.9. “Despite its declarations that it is committed to clean energy, ADB is sti l l f undi ng coa l a nd fossil fuels. In t he pa st fe w years, it has invested in fossil gas and related infrastructure across Asia and i n coa l proj ects, such as the controversial 4,000-megawatt Tata Mundra Ultra Mega Coal plant in the Indian state of Gujarat and the Jamshoro coalfired power plant project in Pakistan,” added Nacpil. The IED also recommends that ADB update its energy policy to emphasize climate change mitigation and adaptation as a core priority, and place higher emphasis on promoting a more active high-level engagement with developing member countries in their energy sectors.

agement disciplines, from executive management to finance to technology. I have been a member of the ASAE since early 2000. As a member and a task force volunteer for Asia-Pacific, I was invited for free to attend the event. The timing was on the Eastern Time zone in the US so the event started at 8 p.m. in the Philippines. With this time difference, the daily 8 a.m.-to-8:45 a.m. slots, which were for international meet-and-greet sessions, were dubbed “Coffee, Tea, Cocktails.” I attended the global gathering for three days and was also able to virtually meet old and new friends in the association world through chat rooms and video conference platforms. While virtual events will not replace face-to-face events, associations like us will have to live with doing meetings and events online in the meantime so we can engage with and deliver ser-

vices to our members. Around 70 percent of associations have already run virtual events. Moving forward, hybrid events (part in-person, part virtual) will be increasing in number. There is also a consensus among event planners that virtual events will be part of associations’ offerings for meetings, conferences, and exhibitions in the future. Welcome to the virtual world, everyone, and enjoy attending online events while drinking your coffee, sipping your tea or having cocktails! The column contributor, Octavio “Bobby” Peralta, is concurrently the secretary-general of the Association of Development Financing Institutions in Asia and the Pacific and the Founder & CEO of the Philippine Council of Associations and Association Executives. PCAAE is holding the Associations Summit 8 on November 25 and 26, 2020 with the theme, “Leading with Agility.” The two-day virtual event is supported by Adfiap, the Tourism Promotions Board and the PICC. E-mail inquiries@adfiap.org for more details on AS8.

Relationships

Friday, September 4, 2020 • Editor: Gerard S. Ramos

BusinessMirror

www.businessmirror.com.ph

Today’s Horoscope By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Whitney Cummings, 38; Beyonce Knowles, 39; Wes Bentley, 42; Damon Wayans, 60. Happy Birthday: Take care of money matters personally this year. Refuse to take part in other people’s business or to bail out someone from a tight spot. You’ll gain the most if you are true to yourself and take care of business responsibly on your own. Positive change is heading your way. Stay focused on what makes you happy and what you want most. Your numbers are 4, 12, 21, 25, 32, 43, 47.

ARIES (March 21-April 19): Back down. Being argumentative or pushy won’t help you get your way. Be helpful, understanding and willing to work with others to reach similar goals. Take care of your health and physical well-being. HHH MYANMAR'S Mohinga

TAURUS (April 20-May 20): Plan carefully. Adhere to a budget, and don’t promise more than you can deliver. Focus on positive change and using your intelligence, not letting yourself get caught in something that may be harmful to you emotionally or physically. Avoid arguments. HHH

THE Philippines’s Traditional Adobo

Culinary diplomacy

ALF Chairman Louie B. Locsin

HEN North Korean President Kim Jong-un crossed over to the South Korea side of the demilitarized zone for a meeting with South Korean President Moon Jae-in in April 2018, the latter made sure Kim was fed well. On the menu for the two leaders’ dinner was a Korean-style Swiss potato rosti as appetizer, to recall Kim’s youth in Switzerland where he studied. Also, among the main entrees was a steamed red snapper and catfish, which are found in both Koreas, to underscore the similarities between both countries. For decades, food has been used to forge better relations between nations and, hopefully, keep the peace in many regions. Culinary diplomacy, in fact, is now a subject taught in many universities in the United States as part of a wider course on public diplomacy. As the Philippines commemorates Asean Month, which was in August, the Asean Ladies Foundation Inc. (ALF), in cooperation with the Philippines’s Department of Foreign Affairs and PXP Energy Corp., recently launched a series of cooking videos that showcase beloved national recipes from the 10 member-nations. The cooking videos have not come at a better time, since a lot of people who have been forced to stay home due to the community quarantines implemented to control the spread of Covid-19, have gotten productive, even creative in the kitchen. Member-nations of the Association of Southeast Nations (Asean) were unable to undertake the usual Asean Month festivities, thus ALF members thought these videos were an interesting and inspiring way to highlight home cooking from their respective countries. The video series “Flavorful Journeys: Exploring Asean Cuisine” shows that learning about the cultures of our Asean neighbors is not always limited to physical travels abroad. Thanks to the power of the Internet, foodies and home cooks will have a fun opportunity to cook as the locals do, and also learn a little bit about the history and culture of each nation’s cuisine.

The video series was launched via Zoom on Tuesday, led by ALF Chairman Louie B. Locsin, spouse of our fiery Twitter “darling” Foreign Affairs Secretary Teodoro “Teddyboy” Locsin, and ALF President Linda Rahmanto, spouse of the Indonesian Embassy’s Deputy Chief of Mission Widya Rahmanto. “Food brings people together. We noticed that a lot of people have become creative and productive in the kitchen, especially during this pandemic. So we thought that creating cooking videos highlighting some of the most beloved dishes from our respective countries was a good way to share a little bit of home with everyone,” said Locsin. Rahmanto added, “With the cooking videos, we will still give everyone a taste of our countries’ culture and favorite dresses, and we do hope that you will be inspired to bring our cuisine into your home.” Locsin shared that she wanted to showcase the adobo in a cooking demo by Chef Myrna Segismundo because “can you imagine there are more than 100 versions of the dish? I’d like to learn 50 more!” She added, “ It’s a very common thing in every household. Adobo is included in every Filipino restaurant menu, but there are just so many versions.” Segismundo cooks Chicken and Pork Adobo and Chicken Adobo in Coconut Milk in the video series. Personally, said Locsin, her family enjoys an adobo achuete (adobo in annatto oil), because they like their adobo “redder.” After the press briefing, she shared with me her family’s adobo recipe: “I use vinegar, toyo [soy sauce] and achuete oil to marinate [the pork and chicken pieces]. Then we boil it. Then I fry. But you save a bit of achuete oil to pour after all has been fried.” And just like any good Filipino comfort dish, “it’s the oil from the fat that matters.” (For cooking rookies out there, you get achuete oil by slowly panfrying achuete seeds in a bit of cooking oil until the red color is rendered.) Rahmanto, for her part, chose to feature the Ayam Bakar Bumbu Rujak because “I know a lot of Filipinos here love grilled chicken.” The bumbu rujak actually refers to a special spice base made of palm sugar, terasi (Indonesian shrimp paste), bird’s eye chili, salt, tamarind pulp, garlic, shallot, kaffir lime leaves, galangal, lemon grass and water. This is then massaged into the dried whole chicken or chicken cutlets, which earlier had been brined. It’s best to keep the chicken marinated overnight before it’s grilled. I was most intrigued by Brunei’s dish, the Ambuyat. According Noraimi Rosli, spouse of Khairul Hazwan Mohd Nor, Second Secretary of the Brunei Embassy, “We picked [the ambuyat] because of its texture. There’s nothing like it.” Made from ambulung, a powder from sago starch, it is mixed with boiling water resulting in a gelatinous sticky goo that you have to twirl in a bamboo fork called the chandas. It’s

GEMINI (May 21-June 20): Strive to get things done on time. Consider what you want and how to go about getting it without taking a risk or putting yourself in harm’s way. Patience and truth will be required if you want to avoid uncertainty. HHHH

CANCER (June 21-July 22): Keep your emotions in check. If you overreact or take on too much, it will lead to regret. Home improvements and dealing with contracts and personal finances will help you bring about substantial stability and security to your life. HH

LEO (July 23-Aug. 22): Keep an open mind, and learn from the experience. Be willing to do the work yourself to achieve your objective. If you rely on someone or you follow instead of lead, you will have to backtrack. HHHHH

VIRGO (Aug. 23-Sept. 22): Don’t make promises you cannot keep or depend on someone trying to get you to buy into his or her plans. Concentrate on the changes you want to make that will bring you peace of mind and improve your life. HHH

g best served with special side dishes made from fried mackerel, salted minced meat, the bin jai fruit, beef, or prawns. Watching some of the videos, I was quite fascinated with the Mohinga, which was cooked by Myint Thandar, the spouse of Lwin Oo, Myanmar’s Ambassador to the Philippines. The ingredients are quite numerous—from catfish, chickpeas, lemongrass, noodles to banana stem, etc.—and where you have to make two different kinds of paste before putting them into a soup. It seemed quite daunting for the sheer labor that went into cooking it, although I imagine all that work could only produce a gently aromatic and comforting dish. “We used to eat Mohinga as breakfast, but as a snack we eat [it] anytime,” said Thandar, adding that they eat it with coffee or tea. (Did I mention that it’s a soup?) The other dishes featured in the video series are: Trey Amok or Steamed Fish Curry (Cambodia), Jamu Kunyit Asam or Turmeric and Tamarind Herbal Drink (Indonesia), Larp/Larb Kai or Chicken Salad (Laos), Ayam Masak Merah or Spicy Tomato Chicken (Malaysia), Hokkien Mee or Noodles in a Prawn-Pork Broth (Singapore), Tom Yung Goong or Spicy-Sour Seafood Soup (Thailand), as well as Goi Cuon or Fresh Spring Rolls, and Fried Chicken Spring Rolls (Vietnam). n The ALF is a nonprofit organization incorporated in 2007, whose aim is to help strengthen the ties between the membercountries by fostering unity and cooperation through sociocultural programs and events. The cooking videos are available on the foundation’s Facebook page and on YouTube.

LIBRA (Sept. 23-Oct. 22): Look over personal papers, and update anything due to expire. A change that will lower your expenses will put your mind at ease. Take better care of your health and physical well-being. All work and no play will be stressful. HHH

SCORPIO (Oct. 23-Nov. 21): A change will be good for your morale. Consider who you like to spend time with and the activities that bring you the most joy, and pursue your goal. Be honest with yourself as well as others regarding your needs. HHH

SAGITTARIUS (Nov. 22-Dec. 21): Take on projects at home to cut your overhead or add to your convenience or entertainment. Refuse to get caught in someone else’s goal instead of focusing on what you want to happen. Protect against fatigue and lowering your immune system. HHHHH

CAPRICORN (Dec. 22-Jan. 19): Think twice before you engage in an emotional battle with someone you love. Listen, be patient and try to find a workable solution. Getting along will be far less stressful in the end. Choose love over discord. HH

AQUARIUS (Jan. 20-Feb. 18): Put your heart into whatever job or responsibility you encounter. Focus on making money and handling your finances properly. Don’t give in to temptation or someone playing games with you. Take extra precautions when you are in public places. HHHH

PISCES (Feb. 19-March 20): Be careful what you agree to when asked for help. Make suggestions rather than donating your time or cash. Spend more time with someone you love who brings out the best in you. HHH Birthday Baby: You are impulsive, sensitive and helpful. You are adaptable and reliable.

‘headwear-turning’ by paul coulter The Universal Crossword/Edited by David Steinberg

ACROSS 1 John, Paul and George: Abbr. 4 He-Man’s twin sister 9 Up, in baseball 14 H+ or Cl 15 Silent actors? 16 Care deeply about 17 Line about 23 degrees south of the equator (look down after reading letter 9) 20 Island such as Bikini 21 “Bingo!” 22 ___ King Cole 23 Fix 25 Treated maliciously 27 Atlas enlargement 29 Most recent 32 Flexible fee format (...letter 2) 36 Surfing need 37 Photo 38 Out ___ limb 39 Superman enemy Luthor 40 Citrus drink suffixes 42 Numbers’ place (...letter 7) 46 World capital with many onion

domes 8 Bright aquarium fish 4 49 Kind of bean that’s shaped like an organ 51 Fighting fleet 55 One may have pink feathers 57 Org. that seizes kilos 58 More fitting 59 Without warning, and where the starred answers get tricky 64 Squirrels climb them 65 Circumvent 66 Tiebreaker periods, briefly 67 “It ___ been easy” 68 No longer in 69 Scared of public speaking, perhaps DOWN 1 “Norwegian Wood” instrument 2 Cake with a hazelnut variety 3 Be a busybody 4 Showing pleasure 5 Fruit punch brand 6 Moody music genre 7 Call, as a game 8 Songwriters’ rights org.

9 Do the Wright thing? 10 Tic-toe connector 11 Pale beer 12 Halo, e.g. 13 Shelter around a tenant? 18 Everyday 19 German wine valley 24 Blog feed letters 25 Wait-listed passenger 26 “Gross!” 28 Subj. concerned with biodiversity 30 Reindeer in Frozen 31 Passage for a sermon 32 Junk email 33 ___ deck (place for a pool) 34 Footwear for Alina Zagitova or Michelle Kwan 35 Like the White Rabbit 41 “Comp” or “poli” follower 42 Confessed, with “up” 43 Pilot’s guess, briefly 44 Attacked from the air 45 Florida city by a bay 47 Most curious 50 Lop-___ rabbit

52 A Musketeer 53 Life partner? 54 Pretentiously creative 55 Relaxing soak 56 Other, in Ecuador 60 Chick’s mother 61 Egg cells 62 Touch on the back 63 Praiseful poem Solution to yesterday’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

Editor: Gerard S. Ramos

• Friday, September 4, 2020

Will people go out to see ‘Wonder Woman 1984’? Darren Espanto and Jayda Avanzado

HE follow-up movie to Patty Jenkins’s Wonder Woman has made fans all over the country excited. After all, the first movie was a thrilling spectacle with a careermaking performance by Gal Gadot in the title role. Not only did it champion female power but the genius of Jenkins was that she turned out a movie that didn’t make male viewers intimidated by the fact it was a woman kicking butt onscreen. Recently, SM Cinemas started its first drive-in theater experience in Pampanga. I am assuming it was a success as they’re now bringing it to the Metro, turning the SM Mall of Asia’s concert grounds into an improvised drive-in cinema, and it will begin holding screenings as early as next week. I still have no idea which movie will unreel on its debut week but I’m pretty sure Wonder Woman 1984 will be in the lineup when it is released in October. This is the movie that my friends and I are very excited about, and we have already made plans to catch this via this drive-thru experience. Actually, I don’t mind catching a movie or two before Wonder Woman 1984 via a drive-thru. While I know that the virus hasn’t been curbed and cases are spiking again, I want to support this endeavor of SM and moviemakers continuing to release films this year. It gives me a semblance of normalcy and as much as possible, I really want to hold on to the things that can be saved before we actually arrive at a new normal. Call me foolish but if there are pre-Covid things one can do, with all the safety measures in place, I’d jump at the chance. So far, the details I’ve gotten about the SM Cinema drive-thru experience are that tickets cost P400 inclusive of some snacks, two people per car to a maximum of four people per vehicle can be accommodated, masks are a must even inside the vehicle, and the audio will come from an FM signal in the vehicle’s stereo system. Sounds sweet to me. I can’t wait to try it soon. And so what does this say about the future of moviegoing?

SM is doing their damn best to ensure there is one. nnn YOUNG singers Darren Espanto and Jayda Avanzado have partnered for the first time for the warm and rosy love song “Sana Tayo Na,” produced under Star Music. The two initially teased the collaboration by simply tweeting “Sana tayo na” and tagging each other’s accounts, which immediately sent Twitter abuzz with assumptions on what the post meant. “Sana Tayo Na” even landed on the platform’s Philippine trends list. A feel-good love poem, “Sana Tayo Na” confesses two people’s hopes of being together in the future with assurance and stability. It’s a lighthearted take on expecting the stars would align someday to unite two people in love.

The track is a revival of Jayda’s father Dingdong Avanzado’s composition, which was originally a part of his Coming of Age album. The new version was produced by Jayda and ABS-CBN Music creative director Jonathan Manalo. Jayda’s last collaboration was with The Voice Teens finalist Jeremy G in 2019 for the heartening track “Perfectly Imperfect” which she penned. Darren, on the other hand, is fresh from performing his latest single “Sasagipin Kita” at the virtual celebration of MYX Awards 2020. Believe that you’ll eventually be with the one you love by listening to Darren and Jayda’s “Sana Tayo Na” on various digital streaming services. For more details, like Star Music on Facebook (www.facebook.com/starmusicph), and follow it on Twitter and Instagram (@StarMusicPH). n

‘Pepito Manaloto’ airs special comeback episode this Saturday THIS Saturday, September 5, TV viewers welcome back the beloved family of Pepito Manaloto: Ang Tunay Na Kuwento, as it airs a special comeback episode in thanks to fans’ continuing support. “The cast and I are all very excited. We have a lot of quarantine stories we would love to share with our audience,” said Michael V., the show’s creative director and concept creator. “This Saturday’s episode is a good way to start the ‘new normal’ for our show.” The multi-awarded comedian added how new and different this experience was for all of them, “Shooting from home is a

very different experience. There’s a lot of discipline involved. You gain a new appreciation for the crew during times like these.” As a survivor of Covid-19, Michael V. will open up about what he went through during his self-quarantine period so that the audience may find hope and inspiration amid these trying times. The episode will also feature an amusing “kamustahan” segment where the cast members will showcase the skills and talents they have learned during quarantine; “Pipito Para Manalo,” an intriguing mystery object game; and “Bring It Tommy,” a new spin

on a classic game. Together with Michael V. are Manilyn Reynes, John Feir, Maureen Larrazabal, Arthur Solinap, Mosang, Mikoy Morales, Janna Dominguez and Ronnie Henares. Michael V. promised that they will amp up the fun and deliver the same flavor of comedy that viewers love about the series: “Makaka-asa ang mga Kapuso natin na hindi mawawala ang signature ‘Pepito humor’ sa upcoming episodes.” Pepito Manaloto: Ang Tunay na Kuwento airs this Saturday after 24 Oras Weekend on GMA.

Cate Blanchett on Venice, virus and why lessons weren’t learned By Nicole Winfield The Associated Press VENICE—Australian actress Cate Blanchett said on Wednesday she is baffled that other countries didn’t learn from Italy’s pain to be better prepared to fight the coronavirus outbreak when it spread. Blanchett, who is heading the jury at the virusrestricted Venice Film Festival, arrived on the Lido wearing a surgical mask and skipped the typical water taxi photo-op that stars have long used. Both were evidence of the safety and social distancing norms that have added a certain degree of sobriety to the usually glamorous festival, the first international in-person film showcase after Covid-19 shut down the film industry in March. At an opening-day press conference, Blanchett was asked whether she feared coming to Italy, the first country in the West to be slammed by Covid-19. Hospitals, cemeteries and morgues were overflowing in nearby Lombardy, which became the epicenter of the outbreak in Europe.

Blanchett said she had many fears, but also said “we have to be courageous.” “Every time one starts a project, whether it’s in a pandemic or not, it always feels like the first day of school,” she said. But Blanchett, a UN goodwill ambassador who has previously criticized the US decision to pull out of the World Health Organization, also said she couldn’t understand why the UN agency wasn’t being allowed to have a greater leadership role in the ongoing crisis. “I think we’re a very strange species that we don’t learn by the painful examples, for example, of the terrible stress that Italy was under,” to have been better prepared when the virus spread elsewhere, she said. “We often behave in quite obtuse and fragmented and destructive ways, which is not particularly helpful.” Italy largely tamed the virus with a strict, 10-week lockdown, progressive reopening and continued social distancing norms and mask mandates. While infections have been rising again after Italians returned from vacation, Italy has been able to keep its

cases low compared to Spain and France, which were both hard hit in the initial wave of Covid and have seen cases rise again. Blanchett’s native Australia in recent days saw its single biggest daily jump in fatalities and on Wednesday Australia’s main hotspot, Victoria state, extended its state of emergency for another six months. Blanchett said she was honored to be part of a festival that is helping the industry re-emerge from an economically and artistically devastating lockdown that shuttered movie theaters and production sets, forced the cancellation of the Cannes Film Festival and moved other festivals online. “It seems miraculous actually,” she said. Blanchett is heading the jury that also includes US actor Matt Dillon, Austrian director Veronika Franz, British director Joanna Hogg, Italian writer Nicola Lagioia, German director Christian Petzold and French actress Ludivine Sagnier. They will award the coveted Golden Lion and other awards to winners of the 18 in-competition films when the festival wraps up September 12.

Prince Harry and Meghan sign production deal with Netflix NEW YORK—The Duke and Duchess of Sussex have a new home: Netflix. Six months after detangling their work lives from the British royal family, Prince Harry and his wife, Meghan, have signed a multiyear deal to produce nature series, documentaries and children’s programming for the streamer, according to a statement on Wednesday. The two, who recently relocated to Santa Barbara, California, plan to focus on stories and issues that elevate diverse voices and other issues close to their hearts. Several projects are already in development, including a nature docu-series and a series focused on women who inspire. “Our lives, both independent of each other and as a couple, have allowed us to understand the power of the human spirit: of courage, resilience, and the need for connection,” the pair said in the joint statement. “Through our work with diverse communities and their environments, to shining a light on people and causes around the world, our focus will be on creating content that informs but also gives hope.” The couple also pledged to promote diversity behind the camera as their production company gets off the ground. Meghan has said she will not return to acting. She has done some voice work since the couple left the UK with baby Archie in search of their financial independence. The prince worked closely with the filmmakers of the documentary Rising Phoenix, in which he also appears. It premiered last week on Netflix. Ted Sarandos, co-CEO and chief content officer for Netflix, said in the statement that the decamped royals have “inspired millions of people all around the world with their authenticity, optimism and leadership.” He said the company is proud they have made Netflix their creative home and looks forward to “telling stories with them that can help build resilience and increase understanding for audiences everywhere.” AP

B6 Friday, September 4, 2020

Gen. Santos City Covid-19 patient reunites with newborn baby

Got a Toyota? Get a friend to buy a Vios and get rewarded!

O St. Elizabeth Hospital medical staff send off Amor and baby Angela

MID the Covid-19 pandemic which has claimed more than 3,000 lives in the country, a heart-warming story was unfolding quietly in the south about a mother’s unconditional love. In late July, Amor Tomaquin, 26, a returning overseas from Abu Dhabi who was eight and a half months pregnant, tested positive for Covid-19. When she was due to give birth, she was transferred from the quarantine facility in her hometown in Malungon, Sarangani province to the St. Elizabeth Hospital in Gen. Santos City where she was isolated in the Covid ward. The ISO-accredited tertiary medical facility, has allocated 30% of its 273 beds for Covid-19 patients based on Department of Health guidelines, and is

the city’s only accredited RT-PCR testing laboratory which provides confirmatory testing services to nearby Sarangani. Considered the top in Region 12, St. Elizabeth is part of the Metro Pacific Hospital Holdings, Inc. the Philippines’s largest private hospital operator which has a nationwide portfolio of 16 medical centers. According to the hospital’s chief of clinics Dr. Helena Veneracion Garcia, Tomaquin was informed that as a standard procedure, her baby would have to be separated from her after she is born. Angela Faith, a healthy baby girl, was delivered on Aug. 6 and was found to be negative of the virus within 24 hours when tested. However, the patient had to remain

isolated until she is declared no longer infectious. The hospital staff helped ease her worries by taking photographs of the baby, which she in turn sent to her Abu Dhabi-based partner, the father of the child. Fifteen days after giving birth, she was shown her new-born for the first time, but was unable to carry her in her arms due to medical restrictions. When she was later declared to have recovered clinically, she and her baby were finally united and discharged in a simple but touching send-off gesture by the hospital personnel. “We are in an unprecedented medical emergency which pushes us to our limits. Stories of hope like this inspire us to keep giving our best and to give people hope in these uncertain times,” Garcia concludes.

Rolex introduces the latest creations in its Oyster Perpetual collection

HE Oyster Perpetual Submariner and Oyster Perpetual Submariner Date, professional divers’ watches par excellence, are unveiled with a redesigned and slightly larger 41 mm case. They are equipped respectively with calibre 3230, launched this year, and calibre 3235. The Oyster Perpetual Datejust 31 is presented in a white Rolesor version (combining Oystersteel and 18 ct white gold) and features dials in a variety of colours, with either index hour markers or Roman numerals made of 18 ct white gold. Completely revised, the Oyster Perpetual range welcomes a new, 41 mm model: the Oyster Perpetual 41. The Oyster Perpetual 36 brings vibrant dials to the range. Both of these watches are fitted with calibre 3230. The Oyster

Perpetual Sky-Dweller is fitted with an Oysterflex bracelet for the first time. The innovative, high-performance elastomer bracelet on this 18 ct yellow gold version has an Oysterclasp and the Rolex Glidelock extension system for enhanced comfort on the wrist. The timepieces presented this year are equipped with movements at the forefront of watchmaking technology. Like all Rolex watches, they carry the brand’s own Superlative Chronometer certification, symbolized by a green seal. This certification guarantees that they satisfy performance criteria which exceed watchmaking norms and standards in terms of precision, waterproofness, self-winding and power reserve. The certification is coupled with an international five-year guarantee.

Oyster Perpetual SKY-DWELLER

Oyster Perpetual SUBMARINER

Security Bank Foundation breaks ground on new classroom building

Security Bank Solano Branch Manager Rafael Llarde (left) Municipal Mayor Eufemia A. Dacayo (middle) Schools Division Superintendent Rachel Llana (middle) and Principal Rubilyn Gajo (right) lead the groundbreaking ceremony for a two-storey, tenclassroom public school building from the Security Bank Foundation

ECURITY Bank Foundation, Inc. (SBFI), Department of Education Division of Nueva Vizcaya Province and the Municipal Government of Solano held a groundbreaking ceremony for the soon to rise two-storey, ten-classroom school building donation of SBFI in Solano East Central School in Nueva Viscaya. Despite the transition to modular and online learning due to the pandemic, SBFI continues to build public school classrooms for use in 2021. “As part of our mission to enrich the education of every Filipino, we at Security Bank Foundation are excited to see this school building at Solano East Central School rise. We hope that it will be properly utilized by the learners of the school and the generations to come,” said Rafael F. Simpao, Jr., Security Bank Foundation chairman. The school building, designed to

accommodate 500 students, is expected to be completed in 2021. According to SBFI, public schools must be prepared with more facilities if partial face-to-face classes will be implemented next year due to socialdistancing measures in place. Under social distancing measures, the seating capacity of the 10 classrooms is reduced from 500 to 250. The school building is among the 106 classrooms currently being constructed by SBFI in 11 cities/municipalities across the country. These classroom construction projects aim to address the classroom gap in Philippine public schools. "Sana pangalagaan at gamitin ito nang maayos upang magtagal at maraming mga bata ang makinabang hanggang sa susunod pang mga henerasyon," said Mayor Eufemia Dacayo. Solano East Central School is a primary school in the Province of Nueva Vizcaya.

WNING a Toyota gets even more rewarding! For Toyota owners who know anyone looking to level up their drive, Toyota Referral Rewards is the program for you! From August 10, 2020 to September 30, 2020, existing Toyota customers can receive Php5,000 worth of digital gift certificates when they successfully refer a Vios buyer to any of Toyota Motor Philippines’ 70 dealerships nationwide. "Through the Toyota Referral Rewards program, we want to give incentives to the loyal Toyota customers who best know the great value and quality of a Toyota vehicle. After all, who better to share the advantages and fulfillment of owning a Toyota than our own customers?” said Mr. Sherwin Chualim, TMP's First Vice President. To get rewarded, Toyota customers simply have to visit www.toyotareferral. com.ph and submit the required details. Purchase of Vios under fleet accounts or vehicles to be invoiced under a company or government institution are not qualified to join this program. Alternately, they may also contact Toyota’s Customer Assistance Center at customerassistance@toyota.com.

ph or (02) 8819-2912 to inquire and refer. To qualify, the referrer's Toyota vehicle must be invoiced under their name. A Toyota representative will verify this referral via e-mail using the registered information from the microsite and referrer will be requested to submit a copy of the vehicle ORCR together with their valid ID. For every successful vehicle release of a Toyota Vios through the program, the referrer will be rewarded P5,000 worth of gift certificates. There are no limits to the number of referrals so more successful referrals mean more rewards! Referrers will be notified via e-mail to confirm his successful referral and to issue his digital reward. These digital gift certificates can be used on a wide selection of partner merchants such as restaurants, clothing and apparel stores, supermarkets, department stores, and more. The Toyota Referral Rewards promo only runs until September 30, 2020. Terms and conditions apply. For more information, visit www.toyota.com.ph or join Toyota’s official social media pages at ToyotaMotorPhilippines (Facebook and Instagram), and @ToyotaMotorPH (Twitter).

Experts view digitalization as key to stop corruption, hasten recovery program

XPERTS asked the government to prioritize the digital transformation of the bureaucracy to stop corruption that remains unabated despite the strong pronouncements of President Rodrigo Duterte against such practices. Anti-corruption advocates discussed the risks and made recommendations to ensure that the massive funds being spent for the government’s COVID-19 response programs will not fall prey to corruption at a recent virtual forum hosted by Stratbase ADR Institute in partnership with Transparency International Philippines and Democracy Watch. “COVID-19 has given governments the opportunity to skip accountability measures and democratic procedures under the guise of emergency powers," said Prof. Dindo Manhit, President of Stratbase ADR Institute, said during the forum with the topic “Fighting the Pandemic of Corruption”. Manhit said there is a need for a responsive governance founded on the principles of transparency and accountability to surmount the economic and health challenges in the wake of the “Covid-19”. "Now that the value of technology as a productivity tool for communication, collaboration, and efficiency has been proven, our government must now harness digital technologies as a weapon against corruption. Fast development of our digital infrastructure now becomes a critical element of our recovery strategy," said Manhit. Sarah Steingrüber, affiliate expert on corruption in the health sector of U4 AntiCorruption Resource Center and global health lead on curbing corruption at TI School on Integrity, said: “In the health sector, undue influence can lead to misinformation or corruption of information if you will, which can break down a health system’s ability to function and have serious implications.” "COVID-19 is a corruption accelerator and has really shown the major cracks in the system, but it is an anti-corruption opportunity if we get it right, if we're willing to work,” Steingrüber said. Dr. Francisco Magno, trustee and program convenor of Stratbase ADR Institute and senior fellow at De La Salle Institute of Governance said "the lack of digital tools is a real constraint for the government to address the distribution of relief services. So, the thing about digitizing is that you really need data.” “We should definitely go digital, and we need to invest in Internet connectivity, all the digital equipment needed. Digital technology

is important, plus the database that is needed,” Magno said. Prof. Heidi Mendoza of Ateneo School of Government and a former commissioner of the Commission on Audit noted the case of the Philippine Health Insurance Corp. She said that when the Commission on Audit was allowed to view the IT system of PhilHealth, they were given the database of claimants from 2011 to 2015. When they compared the database with the information available in the Philippine Statistics Office, the auditors discovered that a lot of the claimants were already dead, with at least 300 hospitals still claiming reimbursements for patients who are already dead. “So, in this particular example, we're seeing that it’s not actually the complication of the IT system. It’s the integrity of the data and the approach of, or what I refer to as the data-mining technique,” Mendoza said. Finance Secretary Carlos Dominguez expressed support to the digitalization program and even reported to the President that cash aid programs will be digitized to prevent corruption in the distribution of subsidies to target beneficiaries. In a recent public address President Duterte said, “I will hold myself responsible for this sole and solemn duty of answering for and in behalf of the executive department of all the funds that were spent in the fight against COVID”. The proposed national government budget of P4.506 trillion for 2021 focuses government spending on improving healthcare systems, ensuring food security and increasing investments in public and digital infrastructure, among others. President Rodrigo Duterte also ordered government agencies to improve connectivity and Internet services in the country by removing red tape in the approval of telecommunication projects. Last month, the Department of Information and Communications Technology, Anti-Red Tape Authority, Department of the Interior and Local Government, Department of Public Works and Highways, Department of Human Settlements and Urban Development, Department of Transportation, Civil Aviation Authority of the Philippines, Department of Health and Food and Drug Administration issued a joint memorandum circular to remove five prerequisites for the construction of passive telecommunications towers and reduce the timeline of permit issuance from 200 days to only 16 days.

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

Sports BusinessMirror

FOOLISH BREACH!

CHED CHAIR: U.S.T. BROKE QUARANTINE PROTOCOLS

OMMISSION on Higher Education (CHED) Chairman Prospero de Vera III on Thursday declared that University of Santo Tomas (UST) broke health protocols by simply allowing its men’s basketball team, the Growling Tigers, to hold a training “bubble” in Sorsogon City. “Yes, I think clearly holding a student activity in a faraway place...clearly there’s seem to be a violation of IATF rules,” de Vera said. The Inter-Agency Task Force (IATF) for the Management of Emerging Infectious Diseases already relaxed return-to-training protocols in sports but still disapproves team training, more so traveling in a big group anywhere in the country. De Vera also said UST didn’t deny knowledge of the “Sorsogon bubble,” giving away the meat of UST’s report from its internal investigation of the controversy that the school refuses to bare to the public. The CHED chief beat to the draw Games and Amusements Board (GAB) Chairman Abraham Mitra and even University Athletic Association of the Philippines (UAAP) Executive Director Atty. Rebo Saguisag and Season 83 President Emmanuel Calanog of De La Salle in making a declaration on the UST “bubble.” The GAB, UAAP, Department of Health and the Philippine Sports Commission (PSC) compose the body investigating the alleged “bubble” that also involved National University. The PSC, however, did not receive a copy of the report which were submitted to the body on Tuesday by UST’s lawyers. “They [UST] admitted that [something] happened and UST didn’t even deny that there was a bubble—even [the] coach didn’t deny that there was a bubble,” said de Vera, but didn’t divulge if the coach he was referring to was Aldin Ayo. Tigers Head Coach Ayo is in the epicenter of the controversy because the alleged “bubble” was staged in his native Sorsogon City. “The posts of the students attest that there’s a bubble,” added de Vera, referring to the revelations made by former UST star CJ Cansino in social media. Despite making an earnest conclusion, de Vera said he has yet to determine the sanctions that could be imposed on UST. “We are in the stage of verifying who are responsible for the violation based on the report submitted by the university’s legal team,” he said. But de Vera cleared the student athletes of any wrongdoing. “ The student athletes or the players who joined UST Head Coach Aldin Ayo in Sorsogon will not be accountable or liable to the IATF,” he said, hinting the athletes, who are under 21 years old, could have been forced to join the bubble. The IATF prohibits individuals aged 20 below and 60 above from going out of their homes.

Friday, September 4, 2020 B7

RIVAS, France—Julian Alaphilippe’s ride in the yellow jersey is over, and his rivals had nothing to do with it. The Tour de France leader was stripped of the coveted shirt on Wednesday after being handed a time penalty for illegally receiving provisions near the end of Stage 5, which had been largely uneventful until then. British rider Adam Yates was moved up to first place in the revised general standings after Alaphilippe was docked 20 seconds. “I don’t think any rider would want to take the jersey like this,” Yates said. “I just found out. Nobody wants to take a jersey like this.” Only minutes after versatile Belgian rider Wout van Aert won the stage in a sprint finish, TV footage showed Alaphilippe grabbing a bottle from a staff member of his Deceuninck-Quick Step squad about 18 kilometers from the finish. Under racing rules, riders are not allowed to receive provisions—either drinks or food—during the final 20 kilometers of a stage. Deceuninck-Quick Step did not immediately explain why the staff member was posted inside that zone and why he handed out

the bottle to the French rider. Cycling’s governing body, the International Cycling Union (UCI), said in a statement that two other riders, Sepp Kuss and Carlos Verona, were also penalized 20 seconds for the same offense. “The absence of feeding in the last 20 kilometers is a rule that the teams are familiar with and that prevents that the feeding doesn’t disturb the race at the entrance of the last kilometers,” the UCI said. Alaphilippe’s teammate Dries Devenyns said the jury’s decision was harsh. “There is no time gain in taking a bottle from the side of the road,” he wrote on Twitter. Yates now tops the standings with a threesecond lead over Primoz Roglic. Tadej Pogacar, another Slovenian rider, stands third, four seconds further back. Alaphilippe dropped to 16th overall, 16 seconds behind the new leader. Alaphilippe waived to the crowd as he left the finish area without the race leader’s jersey he had worn for the last three stages. “It was a very long and very boring stage, with a very nervous finale. I had to stay concentrated to defend the jersey,” said the Frenchman, who is not seen as a contender for the overall victory. “But if that’s how it is, then no worries, tomorrow I’ll pick myself up and we won’t talk about it anymore.” The jury’s decision overshadowed Van Aert’s second career stage win at cycling’s marquee event, a day after he produced a tremendous effort in the Alps in support of Roglic, his Jumbo Visma team leader. Van Aert used his power in the slight uphill finish to win by half a wheel ahead of Cees Bol and Sam Bennett.

Julian Alaphilippe is stripped of the yellow jersey by the Tour de France jury. AP

“It was a heavy finish. It was maybe the most easy stage I ever did in a cycling race because there was no breakaway, not a high pace at all, but then the last hour was really hectic with the wind,” Van Aert said. The Belgian abandoned the Tour last year with a serious leg injury that kept him sidelined for several months. But the three-time cyclocross world champion has been in superb form since the cycling season resumed last month, posting victories at the Strade Bianche, Milan-San Remo, as well as a stage win at the Criterium du Dauphine. A humble rider regarded as a future great, Van Aert will now return to his “domestique” role, as a support rider for Roglic and other teammates. “With a lot of happiness,” he said. Sandwiched between the race’s first summit finish in the Alps and Thursday’s tough climb up Mont Aigoual, the 183-kilometer stage through the Drome Provencale region gave the peloton a chance to relax a bit. The stage started from Gap at a moderate pace under a bright sunshine, with riders talking to each other inside the peloton as they gently rode toward Privas, the French town famous for its chestnut cream. French hope Thibaut Pinot, who crashed hea vily during the opening stage last week, made the most of the pedestrian tempo to have his shoulder checked by the race doctor, then returned inside the pack without problem. The strong headwinds deterred attacks and the race only heated up with 35 kilometers left when the big teams moved forward and jostled for position at the front to make sure they did not get caught in crosswinds. Kuss, an American riding in support of Roglic, crashed in the peloton but was able to resume racing and did not lose time. The Tour, which was postponed from its usual July slot due to the coronavirus, ends in Paris on September 20. AP

Pliskova: I didn’t play good...that’s it ACCIDENTAL top seed Karolina Pliskova is in no mood to answer the media’s questions. AP

EW YORK—Under normal circumstances, Karolina Pliskova would not have been seeded No. 1 at the US Open and so, while a second-round loss certainly would have been disappointing to her, and noticed by others, it wouldn’t have been as newsworthy. But what’s normal in 2020? With the women who are 1-2 in the rankings choosing to skip the trip to Flushing Meadows because of the pandemic, No. 3 Pliskova ascended to the top spot in the draw—and by Day 3, she was gone. Pliskova, the 2016 runner-up at the US Open, made her mood clear during a 6-1, 7-6 (2) loss to 50th-ranked Caroline Garcia on Wednesday by throwing a racket, then again afterward with a series of clipped responses at her news conference. Pliskova fidgeted with the microphone. Sighed. Shrugged her shoulders. Rolled her eyes. When a reporter offered possible explanations for the defeat—a new, faster surface on the courts, a lack of atmosphere because there are no spectators, the pressure of her high seeding—Pliskova replied:

“Nothing from what you said.” Her reasoning for the result? “I didn’t play good,” Pliskova said, “so that’s it.” When another member of the media said this back-and-forth must be boring to Pliskova, she said, “Yeah, a little bit. Did you see the match or no?” and soon after remarked, “I don’t know if you understand tennis well enough.” After a first round that went more to form than ever—29 of 32 seeded women won their opening matches, a US Open record since the number of seeds was doubled from 16 in 2001—the surprises started in the second round. Three Americans turned in upsets of seeded women. Shelby Rogers, ranked 93rd, beat 11th-seeded Elena Rybakina, 7-5, 6-1; Ann Li, who is ranked 128th, topped 13th-seeded Alison Riske, 6-0, 6-3, in a matchup between two players from Pennsylvania; and Madison Brengle, ranked 84th, took out 19th-seeded Dayana Yastremska, 6-2, 6-3. Other seeded women who were eliminated: No. 12 Marketa Vondrousova, No. 30 Kristina Mladenovic, No. 31 Anastasija Sevastova. Mladenovic’s loss was the wildest of them all. She led 6-1, 5-1, then later held four match points, but never was able to finish things off and ended up on the wrong end of a 1-6, 7-6 (2), 6-0 result against

Rockets edge Thunder, face Lakers next

AKE BUENA VISTA, Florida—James Harden couldn’t get his shot to fall all night, so the scorer turned stopper. In this wild Game Seven that took one strange turn after another in the final seconds, the biggest play came when a guy known almost entirely for his offense turned up the defense. Harden made up for a miserable shooting night with a big blocked shot, Russell Westbrook scored 20 points against his former team and the Houston Rockets edged the Oklahoma City Thunder, 104-102, on Wednesday night to win the first-round series. “It was one of

those nights offensively so I just wanted to change the game defensively and I think I did that,” Harden said. The Rockets pulled out a tense final game of the first round that lasted long past the final basket as replays and fouls were sorted out. “I’ve been around a long time and just at the end it was a little crazy,” Houston Coach Mike D’Antoni said. In the end, Houston

THE Thunder’s Dennis Schroder smiles as the Rockets’ James Harden looks back after being called with an offensive foul during the first half of Game Seven. AP

102nd-ranked Varvara Gracheva. Two seeded men exited, too: No. 13 Cristian Garin and No. 24 Hubert Hurkacz. Other winners Wednesday included No. 4 Stefanos Tsitsipas, No. 5 Alexander Zverev and No. 7 Davis Goffin. Tsitsipas made it to the US Open’s third round for the first time by withstanding the so-rare-these-days serve-and-volley style of his 168th-ranked American opponent, Maxime Cressy, 7-6 (2), 6-3, 6-4, after two-time Grand Slam champion Naomi Osaka’s 6-1, 6-2 win against Camila Giorgi. Pliskova had chances to take the second set against Garcia, who had been 0-8 against top-five opponents at Grand Slam tournaments. Garcia trailed 5-4 in that set while serving at 15-40. Two break points that also were set points. On the first, Pliskova got a look at an 89 mph second serve, but she pushed a forehand return wide. On the second, Garcia smacked a quick-strike forehand to a corner and Pliskova’s running reply found the net. Garcia grabbed the next two points with a service winner followed by a gutsy secondserve ace to take that game and then was superior in the tiebreaker. “I knew she was going to come back and not give me the match. When she came back very well,” Garcia said, “I stayed calm and that was important.” AP prevailed to set up a second-round matchup with the Los Angeles Lakers that begins Friday despite Harden, the National Basketball Association’s (NBA) leading scorer, going four for 15 from the field. “These are the games, you want to win a championship or win playoff games, you’ve got to do it with your heart,” D’Antoni added. The frantic final seconds of a game that was tight throughout had Houston take the lead for good at 103-102 when PJ Tucker scored with 1:25 remaining. After changes of possession, the Thunder got the ball to Lu Dort, who attempted a 3-pointer that Harden blocked with 4.8 seconds left. Robert Covington made a free throw with 1.4 seconds to go and Harden was whistled for fouling Danilo Gallinari before the ball was inbounded, giving the Thunder one free throw and the ball. But Gallinari missed the free throw and the Thunder turned it over on the last inbounds pass. Westbrook helped defend that, perhaps remembering some of his old coach’s plays. “I kind of know a little bit,” Westbrook said. Covington had 21 points and 10 rebounds, and Eric Gordon also scored 21 points for the Rockets. Harden finished with 17 points and nine assists. AP

Motoring BusinessMirror

Henry Ford Awards Best Motoring Section 2007, 2008, 2009, 2010 2011 Hall of Fame

B8 Friday, September 4, 2020

Editor: Tet Andolong

After game-changing Cross, another Toyota stunner up

LIKE what Froilan Dytianquin, now the general manager for Sojitz G Auto/Geely Philippines’s sales and marketing division, told the Inquirer’s Tessa R. Salazar just a while back on digital platform embracing the auto world today. Here: “I believe this will be the way of doing things from now on. This situation has taught us a lot in doing things, like adapting, while at the same time being efficient. Online seminars, and virtual car launches prove to be cost effective

too in relaying your messages to employees and customers alike. I’m sure software developers are further on the grind to find better solutions to bring the better experience of communicating and selling to customers.”

Short but sweet. That’s always been the way with Froi, the longtime vital cog of Mitsubishi before moving to Sojitz G/Geely. Good job, buddy. And speaking of virtual car launches, Nadinne B. Capistrano said Toyota will unwrap another model shortly (September 12?)— practically just days after the world’s No. 1 carmaker unfurled its game-changing Corolla Cross that caught the industry by surprise. Happily that is, because the Corolla, the Toyota icon for the longest time, has stunningly metamorphosed into an SU V. What a move! And a hybrid at that. That’s like seeing LeBron James being suddenly transformed from an adroit point guard to a slamming slot man. Any shape and any size you want to do with the Corolla, it will always perform well and be a looker as well. Any position you give to James, he’d always rule like the king that he is in any assigned task. With the arrival here of the Corolla Cross, the landscape was transformed into another eyepopping panorama not seen, or

even expected, by even the keenest observers in the industry. My friend in America had bought a Corolla Cross just a while back and you know what he said to me? “After owning and driving many models here in LA, I’ve never been so satisfied. The new Corolla SUV has revolutionized car appreciation.” W ho said the future hasn’t arrived?

seat (1972), Side Impact Protection System (1991), Whiplash Protection System (1998) the Inflatable Curtain (1998), Roll Stability Control (2002), Pedestrian Detection with Full Auto Brake (2010), Run-off Road Protection (2014) and more. It is estimated these innovations have saved more than 1 million lives. “Awarded 5-Star ratings were the 2021 Volvo S60 T5, 2021 Volvo S60 T6 AWD, 2021 Volvo V60 T5, 2021 Volvo XC40 T5 AWD, 2021 Volvo V60 T5 AWD Cross Country, 2021 Volvo XC40 T4, 2021 Volvo XC60 T5 / T5 AWD, 2021 Volvo XC60 T6 AWD, 2021 Volvo XC90 T5 / T5 AWD, 2021 Volvo XC90 T6 AWD and the 2021 Volvo XC90 Recharge T8 AWD. “Models the NHTSA has not tested are the 2021 S90, V90 and V90 Cross Country, T8 Recharge plug-in hybrid variants of the S60, V60 and XC60, and the XC40 P8 Recharge pure electric SUV. “Volvo has always been and always will be about people, which means safety is our number one priority,” said Anders Gustafsson, Senior Vice President Americas and President and CEO, Volvo Car

11 Volvos feted

FROM Albert Paolo Ella, lawyer Albert Arcilla’s hardworking lieutenant, this: “Eleven Volvo car models have earned five stars, the highest possible safety rating, from the National Highway Traffic Safety Administration’s New Car Assessment Program for 2021. “Volvo has a long history as a leader in passenger vehicle safety innovation. In 1959 the company introduced the three-point safety belt, one of the most important pieces of safety equipment ever invented. Since then Volvo has introduced many more world firsts in safety, including the Rearward-facing child

USA. “These NHTSA 5-Star ratings confirm Volvo Cars’ continued commitment to protecting what’s important to our customers.” Volvo has always prided itself as the world’s safest vehicle. Take a bow, Sir Albert.

PEE STOP Visor chief Vernon B. Sarne, the former Top Gear PHL editor in chief, is back on his feet after a three-week battle against aneurysm that put him precariously under the knife to repair a ligament tear near his brain. By God’s grace, Vernon hurdled the ordeal in flying colors, thanks in large part to the stupendous assist provided him by Ariel “SPO2” de Jesus. Ariel practically herded the entire motoring media and several industry moguls to rally round Vernon during those most crucial moments, when life literally hung by the thread for the feistiest motoring journalist popping out this side of the globe. Nice to have you back, Sean. Indeed, God still needs you to continue fulfilling your mission: Afflict the comfortable and comfort the afflicted. Mabuhay ka, VBS!

Maxus rolls out the G50 compact MPV Story by Randy S. Peregrino

AXUS Philippines recently rolled out its newest addition to the country’s growing lineup—the Maxus G50 compact MPV. In its first-ever virtual launch event, Maxus Philippines is now taking a slice of the pie in the segment with its slogan “To the Max” and radiant color options to add flavor to the model. Introduced in three variants (1.5 Turbo DCT Pro, 1.5 Turbo DCT Elite, and 1.5 Turbo DCT Premium), each G50 edition epitomizes the “do-it-all” attitude of a multi-purpose vehicle. Not to mention, infused with the brand’s 124 years of British-bred heritage, global expertise, and experience in light commercial vehicles. The G50 is an MPV that can do “Max more.” With a modern design, spacious interior, superior features, and value-for-money price point, the G50 is ideal for young entrepreneurs seeking not just an all-in-one vehicle, but also a ‘more-in-one’ MPV for daily transport, business, and delivery vehicle. This new MPV is also tailored for up-and-coming corporate managers in need of weekend leisure ride with the entire household. Automobile Central Enterprise Inc. President Felipe Estrella described how the G50 further enhances the role Maxus’s lineup of LCVs plays

The Maxus G50 MPV in radiant Water Blue shade. Maxus Philippines

in Filipinos’ lives. “We have recognized the importance of families since we launched our flagship model, the G10 multipurpose vehicle in 2019. Our other models, the V80 van and our pick-up, the T60, match the continuously evolving needs and wants of Filipino families. We likewise appreciate the hard work of micro, small, and medium enterprise owners. The reliability, efficiency, power, and versatility of our products make them ideal for businesses and even essential, life-saving purposes. The G50 is our latest vehicle that caters, again, to the Filipino family.” Maxus Philippines General Manager Reginald See, for his part, expounded on family needs. “The G50 is an MPV that can take in even your extended family members since it’s an 8-seater. It’s ideal for long road trips and family picnics. The great thing about this is that it has the price of a subcompact MPV.” When it comes to safety, feature, and performance, the G50 ticks off all the boxes that define an ideal compact MPV. Further, it goes the extra mile by adding more to the total package. Apart from the spacious eightseater cabin, a 12-inch infotainment system is equipped with a 360-degree view camera. Leather seats are added for the Premium and Elite variants. In contrast, a panoramic

sunroof, mobile wireless charging, LED headlights, and a power tailgate is available for the top-of-the-line Premium variant. Available as standard are keyless entry with push-start button, reverse camera, Park Distance Control, Electronic Stabilization Program, and Electronic Parking Brake with Auto Hold. Motivation comes from a 1.5-liter four-cylinder turbocharged gasoline engine generating 167 hp at 5,500 rpm and 250 N-m of maximum torque at 1,700-4,300 rpm. The 1.5 Turbo DCT Pro is priced at P1.088 million (Warm White, Warm Argent, Metal Black, and Water Blue), while the 1.5 Turbo DCT Elite is valued at P1.168 million (Roland Purple, Polar Ash, and Warm White, plus the exclusive Deep Golden shade). The 1.5 Turbo DCT Premium, meantime, is priced at P1.288 million (Roland Purple, Polar Ash, and Warm White). The G50 enjoys “Max” quality, efficiency, and convenience of aftersales products, services, and worry-free ownership backed by a warranty coverage of five years or 100,000 km, whichever comes first. Maxus Philippines also offers 24/7 emergency roadside assistance and on-site servicing for corporate fleet accounts. For more information about the G50, log on to www.maxus.com.ph .

Mazda Philippines celebrates Centenary

AZDA Philippines commemorates the iconic Japanese brand’s 100th Anniversary this 2020 with the limited release of Mazda3 and Mazda MX-5 100th Anniversary Special Edition models in the country. Only 15 examples for the Mazda3, and 24 for the Mazda MX-5, will be made available to customers in the Philippines to mark this historic milestone. Inspired by the Mazda R360 Coupe, the marque’s first passenger car model, the 100th Anniversary Special Edition models sport a Snowflake White Pearl finish with red seats and floor carpets. The two-color retro motif represents the brand’s dream and Never Stop Challenging spirit that have been passed on from one generation to the next since the company’s inception as a cork manufacturer a century ago. “For 100 years now, Mazda has remained true to its promise of making cars that defy convention,” shared Mazda Philippines President and CEO Steven Tan. “As we celebrate a century of manufacturing, design, and engineering expertise, we also would like to thank our customers by letting them

commemorate this milestone with us.” Tan added, “By making these 100th Anniversary Special Edition models available in the Philippines, Mazda acknowledges the passion of our loyal customers. We wish to thank them for allowing us to create unique products that continue to brighten their lives.” A special Mazda 100th Anniversary Logo combines the original corporate logo layout of Toyo Cork Kogyo and today’s modern Mazda wing brand symbol. This logo is embossed on the seat headrests, the wheel center caps and the key fobs of each commemorative model. While Mazda 100th Anniversary badges embellish the fender wings and floor mats. With these commemorative details, owners will surely be reminded of Mazda’s rich heritage and its long time commitment to contribute to the world through engineering. Only 700 units of various 100th Anniversary Special Edition Mazda models will be produced and sold around the world. With the coming arrival of 15 Mazda3 and 24 Mazda MX-5 commemorative models in the Philippines, the privileged few

who will revel in the honor of celebrating a century of engineering innovation, design heritage, and driving passion with Mazda will surely be rewarded with a stunning collector’s masterpiece that is a hundred years in the making.

A tribute to 100 years of design and innovation

A car for the people, honed with cutting-edge technology. A fulfillment of many a drivers’ dreams and aspirations—today’s Mazda3 is the modern-day interpretation of the dream that made the Mazda R360 Coupe possible. With more than 6 million units sold globally since 2003, and more than 20,000 sold in the Philippines, the Mazda3 continues to be one of the most notable nameplates for pushing the envelopes of design, engineering, innovation, and direction for the brand. Priced at P1,570,000 with an optional Mazdaspeed body kit for P75,000, the Mazda3 100th Anniversary Special Edition is a true representation of a century’s commitment to human-centric design and a rich heritage borne of culture and passion. It is the everyday

collectable for the most loyal of Mazda fans.

Engineered to Celebrate driving

When Mazda set forth to create a lightweight sports car in the 1980s, it not only benchmarked the classic roadster design but also the inherent freedom driving one entails. With this industry-changing model, Mazda’s horse and rider as one philosophy, Jinba Ittai, came to the fore. Since its introduction in 1989, the Mazda MX-5 has become the symbol of pure, unadulterated driving. With over 1 million units

sold, it has earned the reputation as the most popular sports car in the world. The Mazda 100th Anniversary logo is embossed on the special edition MX-5’s Red Nappa Leather seat headrests and key fobs. Other commemorative embellishments include red carpets and floor mats to complete the two-tone retro theme, special Mazda 100th Anniversary badges on its front fenders and mattings, and the bright silver 17-inch wheels with the Mazda 100th Anniversary logo center caps. All these come together as the embodiment of the cherished ideals of the centuryold Japanese brand.

The 24 examples of the commemorative roadster to be made available in the Philippines are equipped with the latest 2-liter Skyactiv-G motor producing 184PS and 205N-m of torque. They all feature a 9-speaker Bose Sound System along with top-of-the-line features currently available in the MX-5. The Mazda MX-5 100th Anniversary Special Edition will be available as an open-air Soft Top with automatic transmission priced at P2,335,000. It will also be available as a stylish Retractable Fastback with either a manual transmission for P2,390,000, or an automatic transmission for P2,480,000.