BusinessMirror April 01, 2021

COA voids P376.6-M TCCs of textile firms B B D. N @BNicolasBM

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HE Commission on Audit (COA) invalidated an additional P376.63 million worth of tax credit certificates (TCCs) issued to six textile companies, bringing the firms’ total disallowed TCCs to nearly P1.2 billion.

The Department of Finance (DOF) on Wednesday said in a statement that COA-Special Audits Office (COA-SAO) issued last month Notices of Disallowances (NDs) on P376.63-million TCCs issued to several textile firms in the past.

Capital-Roll Knit Corp. (CRC), Uni-Glory’s Knitting Corp. (UKC), Primeknit Manufacturing Corp.

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(PMC), Tai-Cheng Integrated Resource Inc. (TICIRI), Miskhu Industrial Corp. (MIC) and Universal Pacific Knitting Mills Inc. (UPKM) were among the textile firms found to have secured illegal TCCs from the One-Stop Shop Inter-Agency Tax Credit and Duty Drawback Center (OSS).

According to the February 23 letter sent by COA-SAO Officerin-Charge (OIC) Gloria Silverio to Finance Secretary Carlos G. Dominguez III, the new set of NDs covered TCCs that were issued between 2009 and 2013.

This new set of NDs is on top of the P818.6-million TCCs disallowed by COA-SAO last year.

The audit body so far disallowed P567.2 million TCCs granted to

CRC, including the new set of NDs on its illegal tax credits totaling P111.30 million.

Apart from this, COA-SAO also issued NDs on P170.8-million TCCs of UKC, including the additional P55.48 million.

It also so far invalidated a total of P154.27-million illegal tax perks of PMC. This includes the P60.83million TCCs recently found by COA to have been illegally issued to the company.

Meanwhile, COA-SAO also found that P46.83 million of TCCs granted to TICIRI should also be disallowed, on top of the earlier NDs that the audit body issued against the firm— worth a combined P94.44 million.

The total value of TICIRI’s disallowed TCCs is now P141.27 million.

For UPKM Inc., its invalidated illegal tax credits went up to P81.59 million after the COA found a new set of spurious TCCs issued to the firm worth P53.26 million.

The illegal tax perks granted to MIC that COA has invalidated so far reached P80.11 million, including the new set of NDs totaling P48.94 million.

Tax credit body

CREATED under Administrative Order (AO) 266 issued in 1992 to process TCCs and duty drawback applications, the OSS is a composite body managed by the DOF, Bureau of Internal Revenue (BIR), Bureau of Customs (BOC) and the C  A

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A broader look at today’s business

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Thursday-Sunday, April 1-4, 2021 Vol. 16 No. 172

BSP PROJECTS SLIGHTLY ■

P.  |     | 7 DAYS A WEEK

LOWER MARCH INFLATION SOLON: DOMINGUEZ SHOULD BE OVERALL COVID CRISIS MANAGER

THE much-awaited LRT-1 Cavite Extension Project is more than halfway to completion, with reports quoting officials citing an overall progress rate of 50.61 percent. This extension of the existing 20.7-Km LRT-1 Line will increase the train network’s capacity from 300,000 to 800,000 passengers daily. It will also reduce travel time between Baclaran in Manila and Bacoor in Cavite from over one hour to just 25 minutes.

B J M N. D C @joveemarie

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HE chairman of the House Committee on Ways and Means on Wednesday asked President Duterte to designate Finance Secretary and Economic Development Cluster (EDC) Head Carlos G. Dominguez III as overall Covid-19 crisis manager.

In a statement, Albay Rep. Joey Sarte Salceda said the country needs someone who can readily decide on matters of government guarantees, borrowing, and spending.

“It will probably work better if testing, tracing, and treatment, as well as economic interventions and procurement were not siloed in different agencies or different persons-in-charge,” he said.

“Th is is the most challenging socioeconomic crisis we have dealt with in decades. I can think of no other person who already has the mandate, the gravitas, and the experience

ROY DOMINGO

B B C

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@BcuaresmaBM

HE Bangko Sentral ng Pilipinas (BSP) projected inflation to have hit slightly slower in March, owing largely to the downward adjustments of utility and food prices during the month.

C  A

PESO EXCHANGE RATES ■ US 48.4660

than Secretary Sonny Dominguez,” Salceda added.

According to the lawmaker, Dominguez, as head of EDC, already has supervision over “nearly every facet of pandemic response, from vaccine procurement through the Government Procurement Policy Board, to testing and isolation under Secretaries [Mark] Villar and [Vince] Dizon, to monetary and fiscal policy.”

He added, “Secretary Dominguez even oversees the Department of Agriculture and the Department of Trade and Industry as cluster head. This is critical as we face a food price hike and supply chain issues.”

He also said that Dominguez has the private sector experience and network necessary to mobilize Philippine industry.

“He was a top business executive during the Asian Financial Crisis. He knows how to deal with a crisis of this magnitude. He has S “S,” A

Amro bullish on region’s growth, recovery T

B C U. O @caiordinario

HE Asean+3 Macroeconomic Research Office (Amro) has a rosier economic outlook for the region this year, but sees some downside risks in the horizon, including another Covid-related fiscal crisis.

In the Asean+3 Regional Economic Outlook 2021, Amro said the region is poised to register a growth of 6.7 percent this year while the Philippines will become

the second fastest-growing economy in the 10-member Asean with a growth of 6.9 percent in 2021.

In an online briefing, Amro Financial and Regional Surveillance Group Head and Lead Specialist Li Lian Ong said the growth will mainly be driven by base effects. The risks to its outlook, therefore, are tilted to the downside.

“Our global risk map shows that regional growth will continue to be vulnerable to downside risks that are predominantly linked to the pandemic. Specifically,

rising financial distress among business and households could potentially lead to a financial crisis. Although we currently see that as a tail risk,” Ong said.

“The US-China tech tensions have been overshadowed by the pandemic, and represent other important risks. In the medium term, debt sustainability could be an issue if an unprecedented fiscal support is prolonged,” she added.

In her presentation, Ong said the likelihood of short-term risks happening is medium, citing these as

financial distress among businesses and households; another sustained wave of the pandemic; and escalating tech tensions.

Short-term risks with a low likelihood of happening include a financial crisis due to the pandemic and elevated trade tensions. All these short-term risks are expected in the next two years.

In the medium term risk, which could happen in C  A

■ JAPAN 0.4392 ■ UK 66.5874 ■ HK 6.2337 ■ CHINA 7.3742 ■ SINGAPORE 35.9593 ■ AUSTRALIA 36.8099 ■ EU 56.7925 ■ SAUDI ARABIA 12.9232

Source: BSP (March 31, 2021)

A2

News BusinessMirror

Thursday-Sunday, April 1-4, 2021

COA VOIDS P376.6-M TCCS OF TEXTILE FIRMS C  A

Board of Investments (BOI).

Tax credits were offered as incentives under the Omnibus Investments Code (Executive Order or EO 226) to exporters and manufacturers of BOI-registered products for export that have actually paid duties and taxes on the raw materials and supplies they had used in manufacturing their products.

Approved applications meant refunds on the duties and taxes that were supposedly used later to pay other tax liabilities due the government.

However, the OSS was subsequently found to have issued TCCs to either ghost exporters or real companies that were not in the export trade or did not deserve the tax credits issued to them.

Several past officials and employees of the DOF, BOI, BOC and OSS who were responsible for processing and approving the illegal TCCs between 2008 and 2014, as well as their recipients and claimants from the six companies, were held liable by COA in various instances when the TCCs were issued.

Solon...

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the experience needed to negotiate our vaccine procurement agreement. Most importantly, he has the respect of government leaders, including the President. So, he can candidly tell everyone what really needs to be done,” Salceda added.

Currently, the National Task Force (NTF) Against Covid-19 is headed by Secretary Carlito Galvez Jr. “Sec. Galvez was designated to implement emergency rules specific to Covid-19, such as testing, quarantine rules, among others.

But the crisis management role we need is broader than that,” said Salceda.

“Remember, we are still in a state of calamity , and we are dealing with broader problems than the kind Sec. Galvez has the mandate to do. Basically, what we need right now is something like a Chief Minister. And it has been standard for our presidents [and even other world leaders] to heavily rely on Finance Secretaries for that role,” he added.

Meanwhile, Salceda said mass testing will remain critical to preventing any further outbreaks.

“We have to break through the 100,000 mark and do so consistently with testing. That way, we can prevent further undetected infections. You have around 0.4 percent completely asymptomatic cases daily, and around 97-99 percent are mild cases, so it’s very hard to notice unless we test more,” Salceda said.

“If we can’t test more daily, we can’t vaccinate more. It requires basically the same set of capabilities, from storage, logistics, transport of patients, data analysis and records keeping, to administration by qualified health-care workers.

We have to take testing as practice, because I’m sure, once the vaccines arrive, there will be instances when you need to jab 1 million vaccines per day,” he added.

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Locsin meeting Chinese, KL, SG officials in Beijing

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B R L. M

@rectomercene

OREIGN Affairs Secretary Teodoro L. Locsin Jr., has left for Beijing for a scheduled meeting with Chinese and two Asean counterparts, with the tense situation in the West Philippine Sea (WPS) seen as part of the discussions.

Locsin, along with the foreign ministers of Malaysia and Singapore, will be in the Chinese capital from March 31 to April 2.

Since the beginning of March, the South China Sea (West Philippine Sea) became a flashpoint due to the continuing presence of hundreds of Chinese Maritime Militia vessels in Julian Felipe Reef, in the Philippines’s exclusive economic zone (EEZ).

Meanwhile, the National Task Force for the West Philippine Sea (NTF-WPS) on Wednesday repeat-

ed its assertion of Philippine sovereignty, and sovereign rights and jurisdiction over the KIG (Kalayaan Island Group) in the WPS. The Task Force said that despite the Philippines’s diplomatic protest over their fishing vessels swarming Julian Felipe Reef (Whitsun Reef), which the Chinese calls Niu’u Ejao Reef, “the Chinese Maritime Militia did not pull out and have remained in the reef.”

From Julian Felipe (Whitsun) Reef, the more than 200 fishing vessels “are now in other areas of

DOH: No manipulation of Covid-19 cases tally

EALTH Undersecretary Maria Rosario Vergeire on Wednesday brushed aside doubts raised in some quarters that manipulation could occur in the results of the number of cases being reported by government following the use of rapid antigen test results in the tally of Covid-19.

“Bakit natin ima-manipulate [Why are we going to manipulate the results]? What would be the objective [if the DOH will do the manipulation]?

Ang gusto nating ipakita ay ang totoong nangyayari sa ground [What we want to show is the real situation on the ground],” Vergeire clarified.

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the Kalayaan Island Group in the Municipality of Kalayaan, Palawan,” the task force added. See related story in Nation, A3, “Bulk of Chinese ships remain in reef, some disperse to other areas of WPS.” The NTF-WPS said it has conducted three routine aerial flights and maritime missions “complemented by the filing of a diplomatic protest by the Department of Foreign Affairs [DFA].”

The Task Force counted 220 Chinese militia vessels on March 7, 2021, and the number remained high at 183 on March 22, 2021.

On March 27, the Chinese vessels were counted at 199 and on March 29, there remained 44 CMM “moored, anchored, and stationary at Julian Felipe Reef.”

“The Philippines appreciates the statements of support from its international partners who share common adherence to rules-based order consistent with international law, including the Unclos, as affirmed by the 2016 Arbitral Award,”

the task force said.

“Neither the Philippines nor the international community will ever accept China’s assertion of its so-called indisputable integrated sovereignty over almost all of the South China Sea, part of which is the WPS.” “The Philippines calls on China to immediately withdraw these vessels flying its flag,” as the NTF-WPS stands by its observation that these so-called fishing vessels are maritime militia.

The task force said the Chinese build-up and massing formation from Julian Felipe Reef to other areas of the Kalayaan Island Group “is hazardous to navigation and safety of life at sea.”

“They may be doing illicit activities at night and their lingering [swarming] presence may cause irreparable damage to the marine environment due to marine pollution and destruction of coral reefs. Their swarming also poses a threat to the peaceful exercise of sovereign rights of the Philippines in its EEZ.”

She said the DOH has always been “transparent” and “accurate” in releasing the Covid data.

“The integrity of our data, you can check it. It is being validated everyday,” the DOH official added, stressing that all implementing units have access to their data.

“I can assure that no manipulation will happen,” Vergeire vowed.

The DOH said that they will also include suspect and probable cases and close contacts with positive rapid antigen tests from areas with declared outbreaks—in this case the NCR Plus area

which covers Metro Manila, Cavite, Rizal, Bulacan, and Laguna, as confirmed in the daily case count, as well as in the total case count being reported by the department.

However, reporting of Covid-19 cases shall be disaggregated based on the type of test used.

“Those cases who tested positive but do not fit the case definition of suspect and probable case or close contact under existing DOH issuances shall be retested using RT-PCR for them to be tagged as a confirmed Covid-19 case,” Vergeire said.

Claudeth Mocon-Ciriaco

PHL, D.O.T. ON SHORTLIST FOR WORLD TOURISM AWARDS ’21 B M. S F. A @akosistellaBM Special to the BM

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HE Philippines and the Department of Tourism (DOT) have landed nominations in the prestigious World Tourism Awards (WTA) 2021.

In a news statement, the DOT said the Philippines has been nominated as Asia’s Leading Beach Destination and Asia’s Leading Dive Destination. Cebu is also nominated as the Asia’s Leading Wedding Destination.

The DOT has also been shortlisted as Asia’s Leading Tourist Board.

The agency added that Intramuros was automatically nominated for the Leading Tourist Attraction in the Asia and world categories, having won the same in last year’s awards.

“I am very excited to share with you that, once again, the organiz-

ers of the WTA have shortlisted the DOT and the Philippines for multiple awards under the Asia category of its annual program, which is now in its 28th run this 2021,” said Tourism Secretary Bernadette Romulo Puyat in the same news statement.

“In addition to our efforts to expand the source markets for the Philippines and prepare for the eventual relaxation of our travel restrictions, we also put equal importance in maintaining the country’s image as a top-of-mind destination among international travelers through the help of notable industry platforms such as the WTA,” she added.

The WTA has opened voting across all regions worldwide for this year’s program. Travel professionals, media and consumers are invited to vote for their favorite travel brands, said the awards body in a separate news statement.

Categories cover the entire spectrum of the travel and tourism industry, and range from hotels, resorts and destinations to airlines and tour operators.

The general public and travel industry executives alike are eligible to vote. They can cast their vote via the WTA. The nominee in each category which receives the most votes will be announced as the 2021 World Travel Awards winner.

WTA was established in 1993 to acknowledge excellence across all sectors of the tourism industry. Today, the WTA brand is recognized globally as the ultimate hallmark of quality, with winners setting the benchmark to which all others aspire.

The 2021 WTA online voting period for Asia is from March 30 to August 16, 2021. Online users may simply register for an account on the WTA portal using a valid email address. After an e-mail veri-

fication, registrants will be able to cast their votes.

In addition, users who are members of the travel industry have the option to apply for an upgraded WTA account by providing additional details such as company name and association number upon registration and fulfilling the minimum requirement of 10 votes.

“On behalf of the DOT, I am enjoining our industry stakeholders, as well as Filipino and foreign travelers, to support the Philippines in the 2021 WTA. By casting our votes, we can show that the Philippine tourism industry is alive and even more determined to bounce back, despite the challenges posed by the Covid-19 pandemic,” said the DOT chief.

Prior to the pandemic, the Philippines tourism industry had been growing steadily, reaching 8.26 million foreign visitors in 2019, and 110 million domestic travelers.

BSP projects slightly lower March inflation C  A

BSP Governor Benjamin Diokno told reporters on Wednesday the Central Bank projects inflation to have hit 4.6 percent in March, with a range of 4.2 to 5 percent.

While this projection is slightly lower than the 4.7-percent infla-

tion in February, it is still beyond their 2- to 4-percent target range and almost double the 2.5-percent inflation seen in March 2020.

“The downward adjustment in Meralco electricity rates as well as lower prices of key food items due to improved supply conditions and the continued implementation of price caps on meat products are the main sources of downside prices pressures during the month,” Diokno said. “However, these factors could be partly offset by higher domestic oil prices and the depreciation of the peso,” he added.

In their March monetary policy meeting, the BSP announced they adjusted their average inflation forecast for 2021 to 4.2 percent, up from the 4-percent projection in the previous meeting. This means that the BSP is preparing for infla-

tion to breach the government’s target of 2 to 4 percent for this year.

For next year, the BSP also revised its inflation forecast slightly upward but still within target from 2.7 percent in the previous meeting now to 2.8 percent.

“Moving forward, the BSP will continue to monitor evolving economic and financial conditions to ensure that the monetary policy stance remains consistent with the BSP’s price stability mandate,” Diokno said.

On the same day, Security Bank chief economist Robert Dan Roces forecasted inflation to have hit 4.8 percent in March and average to 5 percent by year-end.

‘We expect headline’

INFLATION to be elevated this year and average 5 percent, with

the threat of forward inflationary pressures mostly emanating from commodity prices led by oil that could see a resurgence of upward movements should major economies reopen again; and this is on top of the low base effects from 2020,” Roces said.

“However, the reimposed ECQ in the Greater Manila Area as well as some localized curbs in major cities nationwide could cause slower price growth relative to the extent of the new lockdowns, thus our estimates have a downward bias. We maintain that core inflation will be a key determinant of consumption recovery, as the release of pent-up demand should increase consumption if the curbs are lifted amidst a wider vaccine rollout that may improve consumer confidence,” he added.

AMRO BULLISH ON REGION’S GROWTH, RECOVERY C  A

two to five years from now, is a sovereign debt crisis caused by pandemic spending. However, Amro said this only has a low likelihood of happening.

“Abundant liquidity support and debt moratoria have kept borrowers afloat, while regulatory forbearance has allowed banks to postpone recognizing NPLs and realizing losses,” the Areo said.

“However, the concern is that the Covid crisis could turn into a full-fledged financial crisis in a downside risk scenario, if the distribution of vaccines is delayed, the pandemic continues to intensify, economic recovery falters, and policy space continues to shrink,” it added.

Philippine economy

MEANWHILE, apart from posting a growth of 6.9 percent this year, the Philippine economy is also projected by Amro to post a growth of 7.8 percent in 2022.

Both forecasts are within government expectations. As of December 2020, the DBCC projects GDP growth to reach 6.5 to 7.5 percent in 2021 while growth is expected to hit 8 to 10 percent in 2022.

Amro economist and Areo Lead Author Anne Oeking said the economy, which was driven by domestic demand and services, was hit hard by the pandemic in 2020.

However, Oeking said the economy has seen a slight rebound given the easing of mobility restrictions, continued flow of remittances and policy support.

This will propel the economy to became the second fastest-growing Asean economy in 2021, second only to Vietnam which is expected to post a 7-percent growth. The growth in 2022 will make the Philippines the fastest-growing economy among Asean+3 regions. This growth, however, owes mainly to base effects.

“Having said that, a large part of that is the base effect because 2020 has been or was so weak, and that does not mean that output losses will be recovered this year,” Oeking said. “In the short term, at least, it’s really those pandemic-related risks that are so important. We cannot expect the economy to strongly recover until the virus is under control,” she added.

With stricter mobility restrictions put in place again in the country’s economic juggernauts— Metro Manila and surrounding provinces—Oeking said it is important to focus on the speedy rollout of accessible and acceptable vaccines.

Oeking said containment must also be targeted and made decisively; and implemented effectively and proactively.

The report also cited as risks to recovery the prolonged wave of Covid-19 infections, a slower-thanexpected global recovery and potential financial distress of businesses in the short term.

Further, it is possible that lower potential growth owing to the scarring effects of the pandemic could occur in the medium to long term.

“A service-oriented and micro, small, and medium enterprise-dominant economic structure also makes any economic recovery in the Philippines more arduous,” the Areo report stated.

Local outlook

MEANWHILE, given the repeat of the Enhanced Community Quarantine (ECQ), University of Asia and the Pacific (UA&P) economist Victor A. Abola told the BUSINESSMIRROR the government can already kiss its 2021 GDP goals goodbye.

Abola estimates GDP growth could only reach around 3.5 percent. Apart from the ECQ, inflation will likely cut the growth forecast.

Inflation, based on his estimates, could be around 4.4 percent to as much as 4.5 percent this year—higher than the Central Bank’s target of 2 to 4 percent in 2021 and 2022.

“The government forecast is no longer achievable with this lockdown in Metro Manila which is likely to be extended,” Abola said in a phone interview. “The stop and go [policy] prevents you from going full blast [with your business].”

In its latest Market Call report, First Metro Investment Corporation (FMIC) and UA&P Capital Markets Research said vaccinations will play a major role in the economy’s recovery.

Other factors include the confidence of firms to produce and consumers to spend as daily cases have soared beyond earlier records.

“The pace of economic recovery, however, will depend on how fast vaccines roll out, more effective medications are acquired, and firms rebuild supply chains and boost output and employment,” the think tank said.

However, “green shoots” have sprouted for the economy. These include the rise in employment of 1.4 million and IHS Markit’s Manufacturing PMI remaining on expansion mode at 52.2 in February.

The Bureau of Internal Revenue (BIR) also reported higher tax collections in December at 0.5 percent. The implementation of granular lockdowns in Metro Manila also supports the positive outlook.

“With inflation running high, BSP may not want to cut policy rates, unless the new ECQ significantly slows the economy further. With the US dollar regaining strength—up 2.2 percent since end-2020—and our trade deficits up for the second straight month, we retain our view that the peso may remain under slight upward pressure for the rest of the first semester,” the think tank said.

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The Nation BusinessMirror

Barangay-based mental health desks pressed

By Jovee Marie N. Dela Cruz @joveemarie

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HE chairman of the House Committee on People’s Participation has called for the creation of mental health desks in barangays that have been placed under enhanced community quarantine (ECQ) restrictions.

San Jose Del Monte City Rep. Florida Robes, the panel chairman, said the creation of mental health desks in the barangay level is “very urgent” after more than 3,000 Filipinos have sought help from National Center for Mental Health (NCMH) over their mental health concerns during this quarantine period.

“The need for mental health desks in every barangay is very important during this ECQ time. Barangays are the closest place where people can seek help,” Robes said.

President Duterte had earlier reimposed ECQ in NCR +, which covers Metro Manila, Bulacan, Rizal, Cavite,

and Laguna. The ECQ will take effect from March 29 to April 4, 2021.

“Professionals’ help is very much needed for the people [to] address their mental and emotional needs,” Robes added.

Under the 2021 national budget, the government has allocated P300 million for implementation of mental health program.

In a recent briefing, Health Undersecretary Maria Rosario Vergeire said NCMH has provided mental health services to 3,006 Filipinos from January to March 15.

Vergeire said anxiety and depression, stressful life event, mood concerns as reasons for the calls.

According to Vergeire, the national government is also focusing on mental health problems to assess the impact of long community quarantine.

The DOH said the public can call the National Center for Mental Health (NCMH) at 0917-899-USAP (8727) and 7-989-USAP (8727).

Govt urged to realign budget, boost health-care system amid Covid spike

By Samuel P. Medenilla @sam_medenilla

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EDICAL workers urged the government on Wednesday to realign a hefty sum of the 2021 national budget to address the record-high spike in Covid-19 cases not only in Metro Manila and adjacent provinces but to other regions as well.

In a news statement, the Filipino Nurses United (FNU) said the government should realign P200 billion of the 2021 budget to boost the protection of medical workers in public and private hospitals by allowing these entities to hire more personnel.

The Private Hospitals Association of the Philippines Inc. (PHAPI) earlier reported that some of its members could no longer increase the number of their bed capacity for Covid-19 patients due to lack of additional personnel.

“The country has reached a record high of more than 10,000 daily Covid-19 cases while we, nurses together

with the doctors and other health workers are in danger of contracting the Covid-19, too,” FNU said.

“Our hospitals are again full to the rim, understaffing worsens, and we are forced to carry heavier work and patient load with many in our ranks falling sick,” the group added.

Currently, FNU noted that a nurse is now being tasked to handle 12 severe cases in intensive care units (ICU), rather than the ideal ratio of one nurse per one ICU Covid patient.

It noted the government is trying to address this by hiring 42,000 nurses and doctors and deploying them to barangays and public hospitals.

FNU also urged the government to minimize the risk of infection for medical workers by providing them free personal protective equipment, transportation, and accommodation.

It also recommended boosting the morale of the said workers by providing them with a hazard pay, increased salaries, and a paid postvaccination and quarantine leaves.

Editor: Vittorio V. Vitug • Thursday-Sunday, April 1-4, 2021 A3

Bulk of Chinese ships remain in reef, some disperse to other areas of WPS

By Rene Acosta @reneacostaBM

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OME of the Chinese maritime militia vessels have left Julian Felipe Reef after berthing in the area for three weeks, but these ships have redeployed in swarming numbers in other features within the country’s maritime waters that China disputes.

The movement of the Chinese militia vessels was revealed by the National Task Force for the West Philippine Sea (NTF-WPS) on Wednesday, even it reiterated the government’s demand to these vessels to leave the West Philippine Sea, maintaining that these are indeed maritime militia ships, contrary to the claims of Beijing.

“The NTF-WPS reiterates its assertion of Philippine sovereignty, and sovereign rights and jurisdiction over the KIG [Kalayaan Island Group] and West Philippine Sea [WPS], and expresses deep concern over the continuing unlawful presence [or swarming] of the Chinese Maritime Militia [CMM], which did not pull out and have remained in Julian Felipe Reef [or Whitsun Reef] and are now in other areas of the Kalayaan Island Group in the Municipality of Kalayaan, Palawan,” the NTF-WPS said in a news statement issued on Wednesday.

The presence of these Chinese vessels, numbering more than 200, was first reported by the Philippine government on March 7 to have berthed in military type formation in the Julian Felipe Reef, with China claiming they were there to seek shelter from bad weather.

Defense Secretary Delfin N. Lorenzana, however, said there was no truth to Beijing’s claims since the weather was fine and the waters at the reef were calm, noting onset of the fishing season in the WPS, which China wholly claims.

The NTF-WPS said the number of Chinese ships at the Julian Felipe has scaled down and left only to fan out to other areas of the KIG and the

THIS satellite image provided by Maxar Technologies shows Chinese vessels in Julian Felipe Reef, or Whitsun Reef, located in the disputed South China Sea. AP

WPS, the military reported.

“After our three rounds of routine aerial and maritime sovereignty patrol missions complemented by the filing of a diplomatic protest by the Department of Foreign Affairs [DFA], the number of CMM [Chinese maritime militia] recorded at two hundred twenty [220] on 7 March 2021, remained high at one hundred eighty-three [183] on 22 March 2021 and one hundred ninety-nine [199] on 27 March 2021,” it said.

“On 29 March 2021, forty-four [44] CMM remain moored, anchored, and stationary in Julian Felipe Reef. In addition, one hundred fifteen [115] CMM vessels are now monitored in Chigua [Kennan] Reef, forty-five [45] vessels in Pag-asa [Thitu] Islands and the other fifty [50] vessels are dispersed in Panganiban [Mischief], Kagitingan [Fiery], and Zamora [Subi] Reefs, all within the Kalayaan Island Group,” the military report added.

The task force, chaired by National Security Adviser Hermogenes Esperon Jr., said four People’s Lib-

eration Army-Navy (PLAN) vessels were also spotted in the Panganiban Reef, which “forms part of the exclusive economic zone [EEZ] and continental shelf of the main Philippine archipelago.”

The task force also urged China to pull out all the ships as these pose danger to navigation, aside from possibly damaging the reefs.

“The Philippines calls on China to immediately withdraw these vessels flying its flag. NTF-WPS stands by its observation that these socalled ‘fishing’ vessels are maritime militia. Their build-up and massing formation from Julian Felipe Reef to other areas of the Kalayaan Island Group is hazardous to navigation and safety of life at sea,” the NTF-WPS said.

“They may be doing illicit activities at night and their lingering [swarming] presence may cause irreparable damage to the marine environment due to marine pollution and destruction of coral reefs. Their swarming also poses a threat to the peaceful exercise of sovereign rights of the Philip-

pines in its EEZ,” it added.

The task force reiterated the government’s determination to secure the country’s maritime waters and assert its sovereignty, adding that it had already increased the deployment of maritime vessels from the Navy, Philippine Coast Guard and Bureau of Fisheries and Aquatic Resources.

At the same time, the task force welcomed the support of other states to the Philippines over the current imbroglio.

“The Philippines appreciates the statements of support from its international partners who share common adherence to rules-based order consistent with international law, including the UNCLOS [United Nations Convention on the Law of the Sea], as affirmed by the 2016 Arbitral Award. Neither the Philippines nor the international community will ever accept China’s assertion of its so-called ‘indisputable’ integrated sovereignty over almost all of the South China Sea, part of which is the WPS,” the task force stressed.

With Samuel Raphael P. Medenilla

PLM condemns violence, threats against lawyers

Nine coastal areas still positive for ‘red tide’ poisoning–BFAR

HE Pamantasan ng Lungsod ng Maynila (PLM), together with the university’s College of Law and Graduate School of Law, denounce on Wednesday what they described as “targeted attacks and atrocious killings” of lawyers, judges, and legal practitioners.

In a news statement, PLM stressed, “Violence directed towards lawyers puts in peril the rule of law in the Philippines and empowers even greater impunity.”

PLM, however, lauded efforts by the Supreme Court to protect judges

T least nine coastal areas in six provinces remain positive for red tide poisoning, the Bureau of Fisheries and Aquatic Resources (BFAR) announced on Wednesday.

Shellfish Bulletin 8 dated March 29, 2021 revealed that based on the latest laboratory results of the BFAR and local government units (LGUs), shellfish collected at the coastal waters of Inner Malampaya Sound, Taytay in Palawan; Coastal Waters of Dauis and Tagbilaran City in Bohol; Tambobo Bay, Siaton in Negros

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and lawyers against threats to their safety and to deliver justice to those who have died in the line of duty.

Quoting figures released by the Free Legal Assistance Group, PLM said some 100 lawyers have died in the past 20 years, and 61 of them were killed within the past four years. Such a trend, the university said, “is appalling as this impairs legal representation and dispensation of justice.”

There is a “chilling effect” that leads to hesitancy in handling supposedly sensitive cases, PLM added.

“Mindful of its mandate, PLM as an institute of learning will remain steadfast in its resolve to advocate the role of education in the promotion of the rule of law and culture of lawfulness,” the statement read.

University President Emmanuel Leyco, Board of Regents Chairman Dr. Francisco Roman, Regent and College of Law Dean Atty. George Erwin Garcia, and Graduate School of Law Dean and retired Justice Hector Hofileña signed the statement of support dated March 26.

A

Oriental; Coastal Waters of Calubian, and Cancabato Bay, Tacloban City in Leyte; Dumanquillas Bay in Zamboanga del Sur; Balite Bay, Mati City in Davao Oriental; and Lianga Bay and coastal waters of Hinatuan in Surigao del Sur are still positive for paralytic shellfish poison that is beyond the regulatory limit.

According to BFAR, all types of shellfish and Acetes sp. or alamang gathered from the areas are not safe for human consumption.

Fish, squids, shrimps and crabs

are safe for human consumption provided that they are fresh and washed thoroughly, and internal organs such as gills and intestines are removed before cooking.

Meanwhile, areas previously found positive for red tide poisoning have been declared free of deadly toxin. These are Murcielagos Bay (Sapang Dalaga and Baliangao) and coastal waters of Ozamiz City in Misamis Occidental; and Taguines Lagoon, Benoni, Mahinog, in Camiguin are now free of the toxic red tides. Jonathan L. Mayuga

Singapore firm offers help for ‘safe, efficient’ commuter service to curb virus spread Over 16K farmers benefit from DA’s Kadiwa grant

S

INGAPORE-BASED transport solution, SWAT Mobility, said efficient and safe commute could help curb the spread of Covid-19 without sacrificing business operations and economic gains.

According to Maria Theresa Busmente, SWAT Mobility’s Business Head for the Philippines, through various stages of the quarantine, public transportation has proven to be unreliable due to long wait times, reduced capacity, and long walks.

“Riding public transportation exposes ourselves to more health risks because of the long journeys and queuing up at terminals or crowded bus stops; careful distancing and testing measures at the office can be easily undone during the commute,” she said.

However, Busmente explained that while it is not the ideal scenario, thousands of Filipinos are forced to take on this risk rather than lose income.

“That is why we encourage companies to provide corporate transportation services for their work force that is safe, efficient, and sustainable,” she said.

Busmente said professional transport solution providers can help companies keep their operations going and ultimately help the Philippine economy keep its balance.

“At SWAT Mobility, we work with fleet operators that provide safety checks such as temperature checking and hand sanitizers on board, not to mention enforcing safe distancing during trips,” Busmente said.

SWAT Mobility takes safety

one step further with their smart transport solution. It has a full suite of integrated systems designed to handle the complexities of an on-demand transport service. SWAT Mobility dynamically routes shared rides in real time through its technology, which includes the front-end use of a rider app, a driver app, and a fleet management dashboard.

“We are also able to have full data capture for contact tracing and record keeping. We all know how important contact tracing is when it comes to managing the spread of Covid-19,” she said.

“It’s easy to use, and is built to automate and optimize operations and requirements of any company transportation—big or small,” Busmente added.

SWAT Mobi l it y is opt im is -

t ic t hat t hrough tec hnolog yb a s e d s olut io n s t he Ph i l i p pine t ra nspor t system ca n be g reat ly improved.

Last year, SWAT joined hands with Toyota Mobility Foundation to provide an efficient and reliable transport solution to the frontliners serving at the Philippine General Hospital (PGH).

SWAT provided the technology needed to seamlessly and safely transport PGH doctors, nurses and other health workers between the hospital and their homes by giving them access to the SWATBiz app. Toyota Mobility Foundation fielded out several vans equipped with all safety and health measures.

The project has successfully ferried hundreds of PGH frontline workers with zero infections.

M

ORE than 16,000 farmers and fisherfolk have benefited from Kadiwa ni Ani at Kita program, Department of Agriculture (DA) Assistant Secretary for Agribusiness Kristine Evangelista said on Wednesday.

“They are able to sell their produce directly to the market, hence giving them a better income. Kadiwa is also their market entry to become suppliers of institutional buyers,” Evangelista said.

The program is a direct marketing scheme of the DA where producers (farmers/fisherfolk) are directly linked with the consuming public, making available food commodities at reasonable prices to consumers through accessible Kadiwa retail stores in strategic locations.

Kadiwa is loosely translated as

“one idea, one thought.”

The financial grants aim to enhance the capacities of farmers and fisherfolk organizations to become reliable food commodity suppliers to consumers and for community based-organizations to sustainably operate the Kadiwa retail stores.

Evangelista said Kadiwa-generated sales reached P875,764,798 from March 17, 2020 to March 27, 2021.

Meanwhile, she said an enhanced version of the Kadiwa Grant is also implemented to help cooperatives and farmers associations.

She said the associations are given working capital grants so they can become consolidators or buy trucks for delivery or packaging or processing equipment so they can sell their produce at a better price. PNA

A4 Thursday-Sunday, April 1-4, 2021 • Editor: Vittorio V. Vitug

Economy BusinessMirror

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DA moves to control spread of ASF in Visayas region

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By Jovee Marie N. Dela Cruz

@joveemarie

HE Department of Agriculture (DA) has ordered the mandatory inspection and clearance of local commercial fishing boats entering Visayas from Masbate to control the possible spread of the deadly African swine fever (ASF).

In Memorandum Order 25 dated March 25, 2021, Agriculture Secretary William Dar said the current ASF-infected zones in the towns of Aroroy and Milagros in Masbate pose a significant threat to disease-free areas in the Visayas regions and provinces

due to its geographical proximity as well as the frequent fishing and trading practices to and from these areas. “ T here is a need to arrest the spread of ASF to protect remaining d isease-f ree areas by enhancing current biosecu-

THIS undated photo shows the send-off of live hogs from Bohol province to Metro Manila. The Central Visayas region has been transporting live hogs to augment the supply of pork in Metro Manila and in other regions amid the threat of African swine fever. FILE PHOTO COURTESY OF DA-7

Fishery officials call on youth to seriously consider ‘promising’ career in aquaculture

A

N international research center is urging more youth to engage themselves in the aquaculture business amid the threat posed by the African swine fever (ASF) to meat supplies in the country.

Dan Baliao, chief of the Southeast Asian Fisheries Development Center Aquaculture Department (SEAFDEC/AQD) based in Iloilo, said fish is more efficient to produce than poultry. “[However] there are not enough skilled personnel to competently build and run fish farms in the country,” he said in a news statement.

“Now, more than ever, is the time for our youth to engage in the efficient production of healthy protein through aquaculture,” said Baliao.

Citing data from the Commission on Higher Education (CHED), Baliao said there are only 26,259 graduates from the agriculture, forestry, and fisheries disciplines from 2018 to 2019, comprising only 3 percent of all Philippine graduates in higher education.

Meanwhile, Baliao said results from the 2019 Fisheries Technologist board exams released by the Professional Regulation Commission (PRC)

also showed that only 731 fisheries technologists passed and obtained their certification out of 2,101 takers across the whole country.

As highly skilled work force is critical in the coming years, he said.

SEAFDEC/AQD is helping the Department of Agriculture-Bureau of Fisheries and Aquatic Resources (DA-BFAR) to build legislated multispecies hatcheries in at least 15 sites around the country.

“We should invest not only in infrastructure and technologies, but also in building up the work force that will run these critical government hatcheries and the grow-out farms that will receive the seeds,” he added.

Lea Cadapan, Aquaculturist II and Legislated Hatchery Project Coordinator of DA-BFAR, also cited the need for more competent aquaculturists.

“Aquaculturists should be kept abreast of the recent developments in the aquaculture industry to be more confident, more efficient, and boost their passion for serving the Filipino fish farmers in contributing to the attainment of the country’s goal of fish sufficiency towards food security,” she said.

New generation

TO jump-start a new generation of aquaculturists, Baliao said his group piloted the intensive selection of fisheries graduates, who were then given hands-on training on seed production, fish health management, and grow-out operations at SEAFDEC/ AQD stations in Iloilo, Guimaras and Rizal.

Upon completion of the training program, some trainees were deployed to upstart the multispecies hatchery operations of the DA-BFAR hatchery in Sagnay, Camarines Sur, which soon took off and produced 467,000 milkfish fry on its first run.

Baliao also revealed that they are planning to train more fisheries graduates from the Bicol region and Mindanao, where most legislated hatcheries will be built, as soon as measures are in place to navigate Covid-19 restrictions.

He said youth graduates of the training program of SEAFDEC/AQD assist in the stocking of milkfish breeders at the newly constructed broodstock facilities of the research center in Tigbauan, Iloilo.

Jovee Marie N. Dela Cruz

rity protocols,” he said.

Dar said all local fishing boats from the island of Masbate bound to the islands of Visayas shall pass through ASF inspection clearance for presence of prohibited commodities such as live swine or pork products.

The DA chief said the Bureau of A nimal Industr y-Veterinar y Quarantine Station Reg ion 5, in coordination w ith the Bureau of Fisher ies and Aquatic Resou rces (BFA R), Phi l ip pine Coast Guard (PCG), DA Reg iona l Field Office and loca l gover nment of f ice wou ld facilitate the inspection and issuance of ASF inspection clearance, which w il l be presented at the por t of transit/dock in the Visayas.

He said BFAR, in coordination with PCG shall only issue

a Certificate of Clearance and Local Transport Permit to fishing boats with ASF inspection clearance.

According to Dar, outbreaks of ASF in the country are continuing since its first confirmed incident in August 2019, gradually spreading to the island provinces/regions of Luzon, such as Masbate and in the islands of Visayas and Mindanao.

Earlier, the DA has recommended to President Duterte to declare a state of national emergency to prevent the further spread of ASF in the country.

T he agenc y said the A SF, a severe and fatal pig disease, has a lready spread to 12 reg ions, 40 prov inces, 466 cities and municipa lities and 2,425 barangays nationwide as of March 19, 2021.

DAR readies distribution of ‘idle’ public lands to Marawi farmers

By Jonathan L. Mayuga @jonlmayuga

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HE Department of Agrarian Reform (DAR) is now gearing up for the distribution of government-owned lands in warravaged Marawi City to qualified farmer-beneficiaries.

This came following a two-day consultative meeting held last March 29 and 30, 2021.

President Duterte ordered the distribution to implement land reform in Marawi City, which prompted the DAR to convene with other concerned government agencies including the Department of National Defense (DND), Department of Environment and Natural Resources (DENR), Ministry of Agriculture, Fisheries and Agrarian Reform-Bangsamoro Autonomous Region in Muslim Mindanao (M A FA R-BAR MM), Philippine National Police, the local government of Lanao del Sur, Task Force Bangon Marawi, and Marawi State University, among others.

Through the consultation, the

DAR hopes to execute land survey and land reform in the said city wherein four major areas to be subjected under the Comprehensive Agrarian Reform Program (CARP) are the idle lands in Camp Keithley, Mindanao State University, National Power Corp. and the Provincial Capitol.

“If we are all one here and willing to change the status quo in Marawi, we can come up with one strong unified position. We can prepare a resolution to effectuate change in Marawi and we will cover all lands that can be distributed legally, as in accordance with the law,” DAR Secretary John Castriciones said in a news statement.

Castr iciones emphasized that the basis for distributing government-owned lands is Executive Order (EO) 75, Series of 2019, which states that all idle public lands can be subjected to acquisition to be distributed to the beneficiaries.

The department’s Special Concerns Office (SCO), headed by Undersecretary Carim Panumpang, is

the lead convener of the consultation meeting.

Panumpang said this activity would result in legitimizing the ownership of Marawi farmers over the lands that they deserve to own a long time ago as part of their rights to their ancestral domain.

“We may have some disagreements in implement ing land reform in some concerned areas, so we will bring this up in Bangsamoro Autonomous Region in Muslim Mindanao [BARMM] and other proper forum to immediately resolve this,” Panumpang said.

MAFAR-BARMM Minister Mohammad Yacub expressed his gratitude to the government for its support to their agency. “ We a re t h a n k f u l for t he suppor t we found in our government. A nd this became possible because of our President’s ‘pusong-[maka]mamamayan’ and our par tnership w ith the DA R under the leadership of Secr e t a r y C a s t r i c io n e s ,” Ya c u b was quoted in the same DA R statement.

CDC and Clark Water launch wastewater

project for new environmental standards

C

LARK Development Corp. (CDC), together with Clark Water Corp., has initiated efforts to upgrade its wastewater treatment processes to prepare the sewage treatment facility serving the Clark Freeport Zone to comply with the new more stringent standards of the Department of Environment and Natural Resources Administrative Order (DAO) 2016-08 on Biological

Nutrient Removal (BNR).

The project focuses on improving the efficiency of the facility, which has the capacity to treat as much as 27 million liters of wastewater per day. The wastewater treatment facility will undergo a series of preparatory works including removal of sludge to maximize the processing capacity and improve the flow of water within the facility. These activities will

increase its overall treatment efficiency, as well as prepare the facility for the installation of upgrades required by DAO 2016-08.

The parties stressed that this collaboration is a testament of their dedication to adhere with the new government-mandated environmental regulations while serving the current and future needs of the locators of the free port.

ERC, Meralco cautioned vs new power bill shock continued from a12 Gatchalian also aired an appeal for concerned officials of local government units (LGUs) in areas declared under the so-called “NCR plus bubble” to cooperate with the Energy Regulatory Commission (ERC) and Meralco in allowing onsite meter readings to ensure the accuracy of billing to consumers, while observing health protocols.

The senator recalled the ERC was barraged

with numerous complaints over the sudden spike in consumers’ electric bills by midyear last year, prompting a Senate inquiry that led Meralco to admit it failed to indicate that it had included the estimated (as against actual) March and April consumption in the month of May billing, causing confusion among consumers.

He noted that the power distributor likewise admitted under investigation that consumers

were billed based on their average consumption from December 2019 to February 2020 because “no meter reading was conducted” from March to April while the ECQ was in effect.

Citing findings that over 4.2 million Filipinos were rendered jobless last February, higher than the previous month’s data, Gatchalian aired an appeal for power suppliers not to add to the burden and instead “let us help each other.” Butch Fernandez

NYC attack on 65-yr-old Pinay spurs big outrage continued from a12 There were 3,800 anti-Asian racist incidents, mostly against women, in the past year, according to a prestigious American news organization.

“There is an intersectional dynamic going on that others may perceive both Asians and women and Asian women as easier targets,” one professor was quoted as saying.

The latest data showed over the past year, the number of anti-Asian hate incidents—shun-

ning, slurs and physical attacks—is greater than previously reported. And, a disproportionate number of attacks have been directed at women.

The research released by reporting forum Stop AAPI Hate last week revealed nearly 3,800 incidents were reported in roughly a year during the pandemic. The nonprofit does not report incidents to police.

“I was mad, like blood boiling through my veins now, watching my community get slaughtered,” said Amanda Nguyen, a civil rights activist who was nominated for a Nobel Peace Prize for her work in advocating for sexual assault survivors.

“How many more people need to be killed in order for the news outlets, especially mainstream ones, to think that we’re worthy of a story?” she asked.

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FOREIGN NATIONAL / NATIONALITY

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WU, ZHENYAN Chinese

LOGISTIC SUPERVISOR

ABSOLUTE STAFF SOLUTIONS CORP. Unit 1710 Entrata Condo Tower 1 Fcc Alabang Muntinlupa City 4.

KIM, HYUNWOO South Korean

MASTER WEB DEVELOPER

ADVANCE BEYOND INTERNATIONAL CONSULTING, INC. 3/f Salcedo One Center 170 Salcedo St. San Lorenzo Makati City 5.

LUO, RONGLIN Chinese

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LI, PENGCHENG Chinese

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INVESTIGATION SPECIALIST I

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

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DYNA BINARY HOLDINGS INC. 18/f Tower 2 The Enterprise Center, 6766 Ayala Ave., Cor. Paseo De Roxas San Lorenzo Makati City 42.

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MANDARIN FIELD MARKETING OFFICER

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GUO, WANG, Chinese

DEPUTY HSE DIRECTOR

FANG, XIAOBIN Chinese

CUSTOMER SERVICE REPRESENTATIVE-MANDARIN SPEAKING

MINDSCAPE CREATIVES INC. Unit 19-o, Burgundy Corporate Tower 252 Sen. Gil Puyat Ave. Pio Del Pilar Makati City

32.

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34.

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FINANCIAL MANAGER

35.

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AXISCOVE INC. Unit 1 & 3 14/f Sshg Law Center Sycip Law Center 105 Paseo De Roxas San Lorenzo Makati City 21.

QIN, BO Chinese

CHINESE SPEAKING IT PROJECT ASSOCIATES

BAOLONG TECHNOLOGY INDUSTRY GROUP LIMITED INC. 20-29th/f Century Diamond Tower Kalayaan Ave. Cor. Salamanca St. Poblacion Makati City 22.

CHUNG TECK SIONG Malaysian

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LI, DONGXI Chinese

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DAELIM PHILIPPINES INC. Paragon Plaza Edsa Cor. Reliance Bargy. Barangka Ilaya Mandaluyong City 36.

SHIM, SANGSIK South Korean

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DING LI BUSINESS CONSULTANCY INC. Unit 25d 2/f Zeta Ii Bldg. Salcedo St. San Lorenzo Makati City LU, XIANYU Chinese

CHINESE MARKETING SPECIALIST

38.

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MANDARIN BUSINESS MARKET ANALYST

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LU, XINWEI Chinese

MANDARIN CLIENT RELATIONS SPECIALIST

ZHU, CHENCHEN Chinese

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DUNFENG MANAGEMENT INC. 35th Floor Wynsum Corporate Don F. Ortigas Jr. Road Ortigas Center, San Antonio Pasig City 41.

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74.

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PROJECT MANAGER

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PRESIDENT/CEO

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CHINESE CUSTOMER SERVICE

141.

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CHINESE CUSTOMER SERVICE

142.

ZHANG, JINGJING Chinese

CHINESE CUSTOMER SERVICE

143.

ZHAO, YONG Chinese

CHINESE CUSTOMER SERVICE

PRIME GREAT COMPUTER TECHNOLOGIES INC. 3/f To 8/f, Nissan Sucat Zentrum Building 8390 Dr. A Santos Avenue Bf Homes Parañaque City 144.

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MANDARIN CUSTOMER SERVICE

145.

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MANDARIN CUSTOMER SERVICE

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MANDARIN CUSTOMER SERVICE

147.

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MANDARIN CUSTOMER SERVICE

SHEVRONE INC. Unit No. 2c Floor No. 4/f, Zone 10 Barangay 76, District 1 Pasay City 148.

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SUPREME CHENGHAO MANAGEMENT OPC Level 26-a Rufino Pacific Tower 6784 Ayala Ave. San Lorenzo Makati City 149.

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SOFTWARE DEVELOPMENT SPECIALIST

SUTHERLAND GLOBAL SERVICES PHILIPPINES, INC. 12th Floor Philplans Corporate Center Kalayaan Avenue & Triangle Drive Fort Bonifacio Taguig City 150.

CHIENGCHAICHAN, SATHORN Thai

ASSOCIATE - ACCOUNT MANAGEMENT

TOPAZBLITZ INC. Unit No. Unit 2c, Flr. No. 4/f, One E-com Center Building Bldg.

Ocean Drive St., Mall Of Asia Complex Subd. Zone 10, Barangay 076, District 1 Pasay City 151.

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CHINESE SPEAKING BUSINESS ANALYST

152.

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CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

TWILIGHTBIZ INC. 40/f Pbcom Tower 6795 Ayala Ave., Cor. V.a Rufino St. Bel-air Makati City 153.

GUAN, JINTANG Chinese

CHINESE SPEAKING ADMIN ASSOCIATE

VPC CORPORATE SOLUTIONS INCORPORATED 11/f 100 West, Sen Gil Puyat Ave. Cor. Washington St. Pio Del Pilar Makati City 154.

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WISHLAND SOFTWARE TECHNOLOGY INC. 28/f Techzone Condo Corp. 213 Buendia Ave. San Antonio Makati City 155.

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CHINESE LANGUAGE MARKETING STAFF

ZX-PRO TECHNOLOGY CORPORATION 16/f Robinsons Cybergate 3 Pioneer Brgy. Barangka Ilaya Mandaluyong City 156.

DANG HO THANH THAO Vietnamese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

157.

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158.

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159.

XU, LISHA Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

160.

GIORDANO, VANESSA Brazilian

CUSTOMER SERVICE REPRESENTATIVE *Date Generated: Mar 31, 2021

Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at DOLE-NCR Regional Office located at DOLE-NCR Building, 967 Maligaya St., Malate Manila, within 30 days after this publication.

Please inform DOLE-NCR if you have any information on criminal offense committed by the foreign nationals.

ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

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Thursday-Sunday, April 1-4, 2021

The World BusinessMirror

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

Myanmar junta escalates violence with air attacks on ethnic groups W

Freed Polish journalist urges int’l pressure against Myanmar junta

M

AE SAM LAEP, Thailand— The military launched more airstrikes on Tuesday in eastern Myanmar after earlier attacks forced thousands of ethnic Karen to flee into Thailand and further escalating violence two months after the junta seized power.

Thailand’s prime minister said the villagers who fled the weekend airstrikes returned home of their own accord, denying that his country’s security forces had forced them back.

But the situation in eastern Myanmar appeared to be getting more, not less, dangerous.

The K aren National Union, the m a i n p ol it ic a l b o d y re pre s e nt ing the K aren minority, said the airstrikes were the latest case of My a n m a r ’s m i l it a r y brea k i ng a cease-fire agreement and it would have to respond.

The attacks came as protests continued in Myanmar cities against the Feb. 1 coup that ousted an elected civilian government and reversed a decade of progress toward democracy in the Southeast Asian country. Hundreds of civilians have been killed by security forces trying to put down opposition to the coup.

T he US State Depar tment on Tuesday ordered non-essential US diplomats and their families to leave Myanmar, expecting the protests to continue. The US earlier suspended a trade deal and imposed sanctions on junta leaders as well as restricted business with military holding companies.

Tuesday’s air raids in eastern Myanmar killed si x civ ilians and wounded 11, said Saw Taw Nee, head of the K NU’s foreign affairs department.

Dave Eubank, a member of the Free Burma Rangers, which provides medical assistance in the region, provided the same information on casualties.

The KNU has been fighting for greater autonomy for the Karen people. It issued a statement from one of its armed units saying “military ground troops are advancing into our territories from all fronts” and vowing to respond.

“We have no other options left but to confront these serious threats posed by the illegitimate military junta’s army in order to defend our territory, our Karen peoples, and their self-determination rights,” said the statement, issued in the name of the KNU office for the district that was first attacked on Saturday.

T hai Pr ime Minister Pray uth

Chan-ocha, spea k ing before the latest air attacks, said his country is ready to shelter anyone who is escaping fighting, as Thailand has done many times for decades. His comments came a day after humanitarian groups said Thailand has been sending back some of the thousands of people who f led.

“There is no inf lux of refugees yet. We asked those who crossed to Thailand if they have any problem in their area. When they say no problem, we just asked them to return to their land first. We asked, we did not use any force,” Prayuth told reporters.

“We won’t push them back,” he said.

‘If they are having fighting, how can we do so? But if they don’t have any fighting at the moment, can they go back first?”

The governor of Thailand’s Mae Hong Son province, where as many as 3,000 refugees had sought shelter, said later that those still on Thai soil were expected to return to their own country in a day or two.

Protests against the junta continued in several Myanmar cities Tuesday despite its lethal crackdown that killed more than 100 people on Saturday alone.

Engineers, teachers and students from the technology university in the southern city of Dawei marched without incident.

The number of protesters killed in the city rose to eight with the announcement of the death of a teenager who was shot by soldiers on Saturday as he rode a motorbike with two friends. According to local media, a hospital certificate attributed his death to “serious injuries as he fell from a motorbike.”

Medical workers in Mandalay, the country’s second-biggest city, honored three of their colleagues who have been killed by security forces. The two doctors and a nurse were remembered in a simple ceremony in front of a banner with their photographs and the words “Rest In Power.”

At a cemetery in the biggest city, Yangon, three families gave their last farewells to relatives killed Monday in a night of chaos in the South Dagon neighborhood. Residents said

Karenni villagers from Myanmar arrive on a boat with an injured person as they evacuate to Ban Mae Sam Laep Health Center in Mae Hong Son province, northern Thailand on March 30. Thai soldiers began sending back some of the thousands of people who have fled a series of airstrikes by the military in neighboring Myanmar, people familiar with the matter said Monday. But Thai officials denied that as the insecurity on the border added a new dimension to an already volatile crisis set off by a coup in Myanmar. AP/Sakchai Lalit police and soldiers moved through the streets firing randomly with live ammunition.

At least 510 protesters have been killed since the coup, according to Myanmar’s Assistance Association for Political Prisoners, which counts those it can document and says the actual toll is likely much higher. It says 2,574 people have been detained, a total that includes the deposed civilian leader Aung San Suu Kyi, whose National League for Democracy party was reelected in the November elections by a landslide.

At Thailand’s Mae Sam Laep village along the Salween River, which forms the border with Myanmar, paramilitary Thai Rangers on Tuesday twice waved off a boat that had come from the other side carrying seven people, including one lying flat and another with a bandage on his head. But ambulances soon arrived on the Thai side and it landed anyway.

Thai villagers helped medical staff carry the injured people on stretchers to a small clinic at a nearby checkpoint. One man had large bruises on his back with open wounds, an injury one medical staffer said could have been caused by an explosion.

An elderly woman in the group had small cuts and scabs all over her face. Thai nurses in protective gear to guard against Covid-19 attended to her, testing her and others for the coronavirus.

Another villager from the boat, 48-year-old Aye Ja Bi, said he had been wounded by a bomb dropped by a plane. His legs were hit by shrapnel and his ears were ringing, he said, but he was unable to travel to get help until Tuesday.

The airstrikes appeared to be retaliation for an attack by guerrillas under the command of the KNU on a government military outpost in which they claimed to have killed 10 soldiers and captured eight. Tuesday’s KNU statement charged that the strikes had been planned before that.

A b out 2, 50 0 - 3,0 0 0 re f u ge e s crossed into Thailand on Sunday, according to several humanitarian aid agencies that have long worked with the Karen.

They said on Monday, however, that Thai soldiers had begun to force people to return to Myanmar.

“They told them it was safe to go back even though it is not safe. They were afraid to go back but they had no choice,” said a spokesperson for the Karen Peace Support Network, a group of Karen civil society organizations in Myanmar.

The army has restricted journalists’ access to the area where the villagers crossed the border.

Myanmar’s government has battled Karen guerrillas on and off for years—along with other ethnic minorities seeking more autonomy—but the airstrikes marked a major escalation of violence.

Political organizations representing the Karen and Kachin in northern Myanmar have warned in recent weeks that junta forces have been shooting protesters in their regions and threatening a response.

They were joined Tuesday by the Three Brothers Alliance, which represent the guerrilla armies of the Rakhine, Kokang and Ta-ang—also know n as Pa laung. T he a l liance said if the killing of protesters did not stop immediately, they would abandon a self-declared cease-fire and join with other groups to protect the people.

The statements from the various ethnic minority groups seemed to suggest their own militaries would respond within their home regions, not in the cities of central Myanmar where the protests and the junta’s repression have been the strongest.

Supporters of the protest movement are hoping that the ethnic armed groups could help pressure the junta.

Protest leaders in hiding say they have held talks, but there have been no commitments. AP

Australia to build guided missiles to counter China’s assertiveness

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ELLINGTON, New Zealand—Australia announced on Wednesday it would begin building its own guided missiles in close collaboration with the US as it seeks to boost its defense capabilities.

The news comes amid growing unease in the Pacific region about China’s increasing assertiveness and military abilities.

Citing the “changing global environment,” Prime Minister Scott Morrison said it would partner with a weapons manufacturer to build the missiles in a plan that would create thousands of jobs as well as export opportunities.

Morrison said it would initially spend 1 billion Australian dollars ($761 million) on the plan as part of a huge 10-year investment in defense and the defense industry.

“Creating our own sovereign capability on Australian soil is essential to keep Australians safe,” Morrison said.

It has been decades since Australia last manufactured advanced missiles, and it currently relies on importing them from allies including the US. Australia does currently build a decoy rocket aimed at disrupting incoming missiles.

Michael Shoebridge, the director of defense, strategy and national security at the independent think tank Australian Strategic Policy Institute, said the announcement was welcome news and filled a strategic gap.

“It’s being driven by the two Cs, China and Covid,” Shoebridge said.

He said China’s increasing aggression was a big concern for Australia, as was the vulnerability of global supply chains that had been exposed by the coronavirus pandemic.

He said Australia’s most pressing need was for long-range anti-ship missiles that could be fired from warships or aircraft. He said that new army fighting vehicles also needed missile capabilities.

Shoebridge said it would make sense for Australia to build a new generation of hypersonic missiles in collaboration with the US. He said potential commercial partners included large US weapons manufacturers like Lockheed Martin and Raytheon, although other manufacturers might be involved in developing specific systems, for instance propulsion.

Australia is part of the “Five Eyes” intelligence alliance, along with the US, Canada, Britain and New Zealand.

“We will work closely with the United States on this important initiative to ensure that we understand how our enterprise can best support both Australia’s needs and the growing needs of our most important military partner,” Defense Minister Peter Dutton said.

He said building weapons in Australia would not only enhance its capabilities but would also ensure the nation had sufficient supply for combat

operations if there was any disruption to global supply chains.

Before the announcement, the Australian Strategic Policy Institute had estimated that Australia would need to spend AU$100 billion over the next 20 years on buying missiles and guided weapons.

Shoebridge said the home-built missiles would help provide a military deterrent during the current decade while Australia waited for a series of new frigates and attack-class submarines to be built.

He said that in the event of a conflict, Australia would need a lot of missiles quickly and couldn’t rely on importing them on time. He said such a scenario was possible, for instance if Beijing decided the time was right to take control of Taiwan by force.

He said the announcement also fitted with the US strategy of dispersing its forces and capabilities so it wasn’t vulnerable in any key locations. AP

ARSAW, Poland—A Polish journalist who was depor ted from Myanmar after spending two weeks under arrest is urging international pressure against the military junta that seized power in the country and authorized airstrikes and the killing of civilians.

Robert Bociaga, a freelance photojournalist, says the situation in the Southeast Asian country could turn into an even bigger tragedy if Myanmar is not helped back toward democracy.

“If the international community [does] not react in a more decisive way, this situation will only aggravate into a regional crisis,” Bociaga, 29, told The Associated Press in a remote video interview.

Myanmar’s military overthrew the elected government on Feb. 1, jailed civilian leaders, and has killed and imprisoned protesters as well as bystanders, including children.

Bociaga said that before he was arrested on March 11, he witnessed no violence and considered himself safe.

While visiting Taunggyi, a city in the country’s east, he covered a protest forming in the street and the military dispersing it. He was surrounded and beaten by soldiers, taken into police custody and brought before a judge, Bociaga said.

He thinks the soldiers did not realize he was a foreigner right away because he was wearing a mask for the coronavirus. Since then, a number of local journalists and publishers have been arrested.

The charges against B ociaga included overstaying his visa and working for foreign media, which is illegal for journalists who don’t have an accreditation. As a freelancer, he had been unable to secure media credentials.

He pretended he wasn’t a journalist and told the judge he had been unable to extend his visa, which expired in September, due to restrictions on movement during the pandemic.

The judge seemed truly concerned that a foreigner had been beaten up and arrested, but she told him she had no power to go against the instructions of immigration authorities and release him without allowing for an official investigation, Bociaga recalled.

His friends in Myanmar, whom he was allowed to call, alerted a local lawyer and the German Embassy, which also represents Poland’s interests in the country.

Bociaga said he was given fruit and treated

well while in detention. He was able to give his testimony sitting on a chair, while local inmates had to kneel down with their hands clasped behind their heads during interrogations by the police.

Eventually, the charge of working for foreign media “vanished from the documents,” he was fined an equivalent of $100 for overstaying the visa and released on March 22. Bociaga says he thinks there was never an investigation of whether he really was a journalist, which saved him from potentially having to serve a long prison term.

“Myanmar remains a ver y old-fashioned country, and they barely use the Internet for anything else than Facebook. So they don’t even check it in Google, and actually that saved my life,” he said with a smile of relief.

Bociaga assumes the German Embassy’s diplomatic efforts influenced how he was treated.

The once-stern immigration officer offered to pay the fine from his own pocket and have Bociaga repay him when he was given his wallet and other personal belongings back. He eventually was able to take a flight out of Myanmar on Thursday.

His experience was “not traumatic” but a “waste of time because I should be working in the field, I should be interviewing people and documenting everything,” he said.

He stressed that despite the arrest, he keeps “good memories from Myanmar.”

Since the coup, Myanmar’s confused people have relied on social media outlets for reliable information about the events in their country, which is also known as Burma, the Polish journalist said.

With the economy grinding down and schools, hospitals and post offices closing in massive acts of civil disobedience, Bociaga said that at first the protesters hoped the military leaders would have to change tactics and talk to them, but the situation is rather evolving toward “anarchy.”

The United States on Monday suspended a trade deal with Myanmar until a democratic government is brought back to the country. The US and other Western nations have already targeted the junta with other sanctions, but Russia and China—political allies as well as major weapons suppliers to Myanmar’s military—would almost certainly veto any concerted action by the United Nations, such as an arms embargo. AP

UN takes no action on latest North Korea missile tests

U

NITED NATIONS—The UN Security Council took no action after a brief meeting Tuesday on North Korea’s latest ballistic missile tests, the first since US President Joe Biden took office on January 20 and a violation of UN sanctions.

Council diplomats said all 15 members encouraged dialogue and negotiations on North Korea’s nuclear program but disagreed on the need for a statement. Last Friday, the council unanimously adopted a resolution to renew the mandate of UN experts monitoring sanctions against the North. Hours earlier, the 15 council members discussed Pyongyang’s latest test firings at a sanctions committee meeting.

On Tuesday, Russia and China both mentioned their proposed December 2019 resolution, UN diplomats said, speaking on condition of anonymity because the meeting was pr ivate. It would ter minate sanctions on North Korean exports such as textiles, seafood and statues, “with the intent of enhancing the livelihood of the civilian population.”

The Russia-China draft resolution has languished, and whether the Security Council takes any action remains to be seen.

Russia’s deputy UN ambassador Dmitry Polyansky told a group of reporters Tuesday “it’s still a time of assessment” of the recent missile tests.

US Ambassador Linda ThomasGreenfield said Monday the Biden administration is looking at “additional actions” that the United Nations might take to respond to the latest tests, but she wasn’t specific about what those actions might entail.

Last week, North Korea fired two short-range ballistic missiles into the sea in defiance of UN resolutions banning such launches. Some experts said the launches, the first of their kind in a year, were aimed

at applying pressure on the Biden administration which is finalizing a review on how to approach the reclusive north Asian nation.

On Monday, North Korea accused the UN of a “double standard ” over its reaction to the launches, warning of serious consequences.

France’s UN Ambassador Nicolas De Riviere tweeted Tuesday: “Today at the Security Council, I recalled that North Korea’s recent ballistic missile launches violate Security Council resolutions. The continued development of #NKorea’s missiles and nuclear programs constitutes a major threat to international peace and security.”

US Secretar y of State A ntony Blinken, who recently returned from Tokyo and Seoul, said Monday the US, Japan and South Korea are united in dealing with the challenges posed

by Pyongyang.

“What we’re seeing from Pyongyang in terms of these provocations does nothing to shake the resolve of our three countries along with allies and partners around the world to approach North Korea from a position of strength in order to diminish the threat that it poses to the region and beyond,” Blinken said.

Past short-range missile launches

by North Korea have typically drawn UN Security Council condemnations, but not fresh sanctions.

North Korea has been hit with increasingly tough sanctions since its first nuclear test in 2006. The latest rounds in 2017 responded to its first successful tests of intercontinental ballistic missiles capable of reaching the United States and its sixth and strongest nuclear test.

The sanctions have banned key exports including coal and the import of an estimated 90 percent of refined oil products including diesel and kerosene, which are key to its economy. UN experts monitoring the sanctions have reported widespread violations by North Korea. AP

The World BusinessMirror

www.businessmirror.com.ph

BioNTech increases 2021 Covid vaccine target to 2.5 billion doses

B

ioNTech SE and Pfizer Inc. raised this year’s production target for their Covid-19 vaccine to as many as 2.5 billion doses, with the German biotech company’s chief predicting a version of the shot that can be stored in refrigerators will be ready within months.

The new target represents an increase of about one quarter from the company’s earlier estimate.

The world’s thirst for more shots has challenged vaccine makers, who had to pivot from a breakneck development pace to ensuring production capacity. Pfizer and BioNTech have repeatedly revised their targets as they scaled up production, largely avoiding the controversies facing other drugmakers such as AstraZeneca Plc. “We are seeing an increased demand,” BioNTech CEO Ugur Sahin said in an interview.

“At the moment we have prepared ourselves to produce 2.5 billion doses, but in principle there is room for further increase.”

On Tuesday, BioNTech said it’s also pushing forward to address a weakness of its shot—the need for longer-term storage at ultra-cold temperatures. The company said it’s advancing with two new formulations: a ready-to-use vaccine that can be stored at fridge temperatures, and a freeze-dried version that could be stockpiled by governments in the future.

Front ranks

The vaccine, the first cleared in the US and European Union, has catapulted BioNTech into the front ranks of European biotechs, allowing it to generate enough revenue to report its first annual profit.

Sahin and Ozlem Tureci, his wife and co-founder, have said they’ll use the vaccine profits to push forward with research in other areas as well. The messenger RNA technology is being studied for other types of vaccines, including seasonal flu, and could also have applications as a treatment for cancer and other diseases.

“That is the transformative impact of having the Covid-19 vaccine,” Sahin said.

He praised the Pfizer collaboration but said BioNTech could work with other big pharmaceutical companies as well— or press forward on its own. “Our priority is really to exploit the full potential of what we can develop.”

BioNTech’s American depositary receipts rose 9.4 percent at 3:17 p.m. in New York, while Pfizer shares fell 1.3 percent.

Fridge not freezer

The partners had previously said they could make about 2 billion pandemic shots this year, enough to immunize 1 billion people.

Next year, they could have capacity to make 3 billion doses, Sahin said in a March 9 interview.

By early in the second half of this year, the companies should be able to offer a ready-to-use formulation of the vaccine that could be stored at refrigerator temperatures, Sahin said. That would make it much easier for doctors’ offices and pharmacies to store and dispense the shot.

The current version requires freezer storage.

The freeze-dried formulation also in the works will require a clinical trial to ensure it’s safe and works as well as the original. That study will start in the US in April, BioNTech said, and should have data by the third quarter. The late stage trial will enroll up to 1,100 healthy participants aged 18 to 55, according to a US government database. Such a version of the vaccine could be stockpiled by governments and shipped and stored even more easily.

BioNTech said it expects 9.8 billion euros ($11.5 billion) in revenue from the supply contracts signed already. Even the people already vaccinated will probably require booster shots, potentially after six to nine months, Sahin said on a conference call.

The company reported 366.9 million euros in fourth-quarter profit and it had 1.2 billion euros in cash at the end of the year. It expects to spend as much as 850 million euros on research and development this year.

More than a dozen patient trials in oncology, including experimental mRNA treatments for melanoma and cancers of the head and neck, breast, kidney and liver are planned. BioNTech is also working on cell therapies and other ways of recruiting the immune system to fight cancer.

Bloomberg News

Thursday-Sunday, April 1-4, 2021

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IMF chief: Global growth prospects getting better but dangers remain

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ASHINGTON—The head of the 190-nation International Monetary Fund says prospects for global growth have brightened since January, helped by a $1.9 trillion US rescue package. But she warns that uneven progress in fighting the pandemic could jeopardize the economic gains.

IMF Managing Director Kristalina Georgieva said Tuesday that when the IMF releases its updated economic forecast next week, it will show the global economy growing at a faster pace than the 5.5 percent gain it projected at the start of the year.

In remarks hosted by the Council on Foreign Relations, she said

that the $1.9 trillion support package that President Joe Biden signed into law on March 11 along with rising confidence from increased vaccinations in many advanced economies were primary reasons for the forecast upgrade.

Georgieva said that governments around the globe had taken extraordinary actions over the

World leaders call for pandemic pact to protect future generations

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ONDON—More than 20 heads of government and global agencies called in a commentary published on Tuesday for an international treaty for pandemic preparedness that they say will protect future generations in the wake of Covid-19.

But there were few details to explain how such an agreement might actually compel countries to act more cooperatively.

World Health Organization Director-General Tedros Adhanom Ghebreyesus and leaders including Prime Minister Boris Johnson of Britain, Premier Mario Draghi of Italy and President Paul Kagame of Rwanda proposed “a renewed collective commitment” to reinforce preparedness and response systems by leveraging the U.N. health agency’s constitution.

“The world cannot afford to wait until the pandemic is over to start planning for the next one,” Tedros said during a news conference. He said the treaty would provide “a framework for international cooperation and solidarity” and address issues like surveillance systems and responding to outbreaks.

International regulations governing health and implemented

by WHO already exist—and can be disregarded by countries with few consequences. Despite an obligation for nations to share critical epidemic data and materials quickly with WHO, for example, China declined to do so when the coronavirus first broke out.

And with no enforcement powers, WHO officials had little means of compelling them to share details, an AP investigation last year found.

Steven Solomon, WHO’s principal legal officer, said the proposed pandemic treaty would need to be ratified by lawmakers in the participating countries.

“Specifics about enforcement will be up to member states to decide on,” Solomon said.

European Council President Charles Michel first laid out the idea of a pandemic treaty at the U.N. General Assembly in December. Joining Tedros at Tuesday’s briefing, Michel said the global community needs to “build a pandemic defense for future generations that extends far beyond today’s crisis. For this, we must translate the political will into concrete actions.”

Gian Luca Burci, a former WHO legal counsel who is now a professor at the Graduate Institute of international affairs in Geneva, described the proposal as an attempted “big fix” involving information sharing, preparedness and response, saying the concept is “like a Christmas tree, frankly.”

“But to me, the risk is that it diverts attention from the tool that we have”—WHO’s existing International Health Regulations, Burci said recently. He said his fear was those regulations would get short shrift and receive “cosmetic improvements, but fundamentally remain a weak instrument.”

Although the 25 signatories of the commentary called for “solidarity,” and greater “societal commitment,” there was no indication any country would soon change its own approach to responding to the pandemic. China, Russia and the United States didn’t join in signing the statement.

White House press secretary Jen Psaki said the US has concerns about the current push for a new pandemic treaty.

“We do have some concerns, primarily about the timing and launching into negotiations for a new treaty right now, and we believe that could divert attention away from substantive issues regarding the response, preparedness for future pandemic threats,” Psaki said Tuesday. “That should be our focus currently.”

WHO legal officer Solomon said the pandemic treaty might also address issues such as the sharing of vaccine technology and vaccine supplies, but gave no indication how that might happen. Despite WHO’s calls for patents to be waived during the pandemic, rich countries have continued to oppose efforts by poor countries to compel them to share vaccine manufacturing technology.

Tedros pleaded with rich countries last week to immediately donate 10 million Covid-19 vaccines so that immunization campaigns could start in all countries within the first 100 days of the year. Not a single country has yet publicly offered to share its vaccines immediately. Of the more than 459 million vaccines administered globally, the majority has been in just 10 countries—and 28 percent in just one. WHO didn’t identify the countries. AP

In this November 12, file photo, International Monetary Fund Managing Director Kristalina Georgieva attends the Paris Peace Forum at The Elysee Palace in Paris. Georgieva said March 30, that when the IMF releases its updated economic forecast next week, it will show the global economy growing at a faster pace than the 5.5 percent gain it projected at the start of the year. Ludovic Marin, Pool via AP

past year including providing a combined $16 trillion in support and a massive injection of liquidity into the financial sector by the world’s central banks. Without this prompt response, Georgieva said last year’s downturn would

have been three times worse.

But she said economic prospects are “diverging dangerously” with the global economy now in a multispeed recovery increasingly powered by two engines—the United States and China, the world’s two biggest economies, while other countries fall behind.

Georgieva said the world faced “extremely high uncertainty” with so much depending on the path of the pandemic with new strains of the virus now holding back growth prospects, especially in Europe and Latin America.

Private economists are forecasting that the US economy could grow by 6 percent to 7 percent this year, which would be the best performance since 1984. But Georgieva said strong growth in the United States could trigger a rapid rise in interest, which could trigger significant capital outflows from emerging market and developing economies.

She said that emerging market and low-income countries already have limited firepower to fight the crisis and are highly exposed to the declines in tourism and other sectors hit hard by the pandemic.

She said how to best address the pandemic would be the key agenda item when the IMF and its sister organization hold their virtual spring meetings next week.

Those discussions will also include a meeting of the finance ministers of the Group of 20 major industrial countries.

She said that the IMF estimates that faster progress in ending the health crisis could add almost $9 trillion to global GDP by 2025.

“Given diverging recoveries, it is prudent to keep a close eye on financial risk, including stretched asset valuations,” she said. “And major central banks have to carefully communicate their policy plans to prevent excess financial volatility at home and abroad.” AP

Banking&Finance BusinessMirror

A8 Thursday-Sunday, April 1-4, 2021

Bank lending at biggest contraction in 14 years

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By Bianca Cuaresma

@BcuaresmaBM

ANK lending in the country continued to contract in February this year, hitting its biggest contraction in more than 14 years.

The Bangko Sentral ng Pilipinas (BSP) reported on Wednesday that bank lending fell by 2.7 percent in February, contracting further from the 2.4 percent decline seen in the previous month.

Bank lending first collapsed into the contraction territory in December by 0.7 percent. February was the eleventh consecutive month that bank lending has slowed despite the aggressive efforts of the BSP to lower interest rates and boost

liquidity conditions.

In comparison, the Philippines’s bank-lending growth rate was at 13.6 percent in March last year.

Bank lending also contracted in the midst of growing liquidity conditions in the country.

The BSP also reported that domestic liquidity rose by 9.4 percent to hit P14 trillion in February. This was faster than the 8.9 percent revised growth in January.

In an economic analysis, Rizal

Commercial Banking Corp. (RCBC) economist Michael L. Ricafort said the grim bank lending rate of the country largely reflects slower demand for loans consistent with slower economic conditions.

Ricafort also said that for the coming months starting March, bank loans could further contract due to the tighter quarantine restrictions.

The economist added that the contraction in bank-loans growth could be partly attributed to less reliance on bank loans by some of the country’s biggest businesses or conglomerates.

This is in view of their increased fund-raising activities in the capital markets, especially through the bond and equity markets, amid the continuous development of the country’s capital markets in recent years.

In mid-February, Diokno admitted that the weakness of business confidence in the face of the pan-

LandBank waives online fund-transfer fees again

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HE Land Bank of the Philippines Inc. (LandBank) announced it is extending once again the waiver of fees for online fund transfers of retail clients until June 30.

The waiver of fees, previously extended only until March 31, covers online fund transfers facilitated through the stateowned bank’s online banking channels via InstaPay and PESONet. Among these platforms is the Landbank mobile banking application (app), which facilitated 14.1 million transactions valued at P20.27 billion as of endFebruary, amounting to increases of 71 percent and 230 percent, respectively, over the same period in 2020.

The LandBank said it upgraded its app last year to include new features such as an enhanced user interface, card-less withdrawal and registration of Mastercard credit and prepaid cards.

“Since the government imposed health restrictions in March last year, Landbank has been encouraging clients to utilize its digital and e-banking channels,” the state lender said. “This continues as the greater Manila area is again placed under enhanced community quarantine (ECQ).”

LandBank President and CEO Cecilia C. Borromeo was quoted in the statement as saying they remain “committed in balancing service delivery and safety, by providing secure and convenient digital

banking solutions while promoting health protection.”

“We continue to urge our clients to utilize our online banking platforms and make cashless transactions, especially at this time when Covid-19 cases are rising,” Borromeo added.

The lender said that as of February, its five major electronic channels recorded a cumulative 18.59 million transactions amounting to P247.08 billion. These represent increases of P16 percent and 47 percent, respectively, year-on-year, the bank said. It added its dedicated electronic channel for national government clients and partners recorded 191,494 transactions or a 10 percent increase in volume, amounting to P152.86 billion, or a 68-percent growth, from February last year.

Likewise, the bank’s e-payment platform facilitated 660,490 transactions amounting to P1.39 billion, or equivalent to 37 percent and 41 percent increases, respectively.

Meanwhile, the LandBank channel that provides “24/7” online banking services to individual retail clients, logged a total of 879,483 transactions with a total value of P2.28 billion representing an 83 percent growth rate.

LandBank said its channel that caters to the online banking needs of corporate clients facilitated 2,740,611 transactions amounting to P70.33 billion.

demic is limiting the potency of monetary policy to lift the economy from recession.

The BSP’s overnight reverse repurchase rate is now at an all-time low of 2 percent after BSP’s aggressive cuts to spur activity in the local economy in 2020. In total, the BSP cut its rates by 200 basis points last year.

“Any further monetary measures may continue to have a limited impact unless business and consumer confidence improves significantly,” the BSP Governor earlier said. “These limits to monetary policy underscore the need for a whole of government approach to address the impact of the pandemic.”

Ricafort also said that new coronavirus strains compose another risk factor as it could potentially slow down the economic recovery prospects, which could also slow down any pick up in loan demand.

Lender receives award for corporate securities

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AST West Banking Corp. announced recently it received an award from the PDS Group, a private firm composed of a holding company, the Philippine Dealing System Holdings Corp. and operating subsidiaries.

“In a testament to its position as one of the most active banks in the corporate fixedincome securities market, EastWest has been named among the top Corporate Issue Managers/Arrangers (Bank Category) in the 2021 PDS Awards,” the lender said.

The bank explained the award is given to the most active issue managers or arrangers in the corporate fixed-income securities market for 2020, determined by the volume of corporate securities in which they acted as lead manager.

“This successful effort is the result of effective collaboration between various units within EastWest,” the financial intermediary said. “[Our] Investment Banking Group originates the issue management and arrangement mandates, secures the necessary

underwriting approvals and executes the transactions.

Meanwhile, the trust, wealth management, retail banking, and securities, derivatives and FX [foreign exchange] distribution and sales groups all work together to distribute the securities to their respective retail, corporate and institutional investor clients.”

“The success of our deals is dependent on the smooth collaboration among key groups in the Bank,” Rafael S. Algarra Jr., senior executive vice-president and head of treasury, markets and off-balance sheet, was quoted in the statement as say7ing. “This joint effort makes EastWest able to cater to the ever-growing demands of our clients for alternative investment solutions.”

The PDS Group has been giving out the PDS Awards since 2006 in recognition of the financial institutions within its members that have exhibited outstanding performance, leadership, innovation, and overall contribution to the development of the domestic capital markets.

Latest Treasury selloff undercuts bond deals

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HE latest Treasury selloff is undercutting bond deals in far-flung corners of the world with Indonesia selling its smallest deal in at least five years.

Rather than paying a higher interest rate, the Asian nation chose to shrink the size of its debt offering last Tuesday, selling a fraction of its initial target.

It comes a week after a canceled bond sale in Russia and a South African debt auction that saw lower demand than usual.

The highest 10-year Treasury yields in more than a year and a stronger dollar are raising allin financing costs for new deals and spurring some borrowers to change their issuance plans.

“Eventually, governments have come to terms that financing costs are on the rise and the sweet spot is behind us,” Trieu Pham, a Londonbased emerging markets strategist at ING Bank NV. “We will probably have to monitor the situation for another few weeks.”

Indonesia’s Finance Ministry sold 4.75 trillion rupiah ($328 million) of non-Islamic bonds, well below a 30 trillion rupiah

The US Treasury Department Building is shown enclosed by a steel fence. BLOOMBERG NEWS

target, and the smallest amount on record, according to data compiled by Bloomberg going back to 2016. The ministry, which received 33.95 trillion rupiah of bids, plans a greenshoe option on Wednesday.

“Financial market conditions, both global and domestic, are still under pressure,” said Deni Ridwan, director of government securities at Indonesia’s Finance Ministry. Pressure on the rupiah

also “affected investor preference,” he said.

As the Biden administration accelerates the vaccine campaign and introduces a plan to rebuild US infrastructure, the Treasury selloff is back with 10-year yields at pre-pandemic levels of 1.77 percent in Tuesday trading.

While appetite for emergingmarket debt in local and offshore markets remains strong, returns are under pressure. A Bloomberg Barclays index tracking localc u r re nc y de ve lo pi n g n at ion bonds lost 3.3 percent this year to Monday.

Meanwhile, a domestic auction in South Africa last Tuesday saw yields for 2048 securities at 11.5 percent compared with 10.81 percent at the last sale of the securities on January 26. The bid-to-cover ratio was lower than the 2.8 average for this year. Higher debt issuance than budgeted in the fiscal year to date also damped demand.

Still, there are good reasons to be sanguine on the sovereign outlook with Russia, South Africa and Indonesia also boasting sizable currency reserves. Bloomberg News

www.businessmirror.com.ph

PDIC warns vs criminals misrepresenting insurer

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HE Philippine Deposit Insurance Corp. (PDIC) warned the public not to fall for new financial scams concocted by con artists misrepresenting the staterun agency.

The depositor-insurer said in a statement issued last Wednesday it discovered three fraudulent schemes by individuals claiming to be from PDIC. “Financial scams targeting hapless savers proliferated during the pandemic; even the deposit insurance system was not spared by ruthless scammers who were determined to con individuals out of their hardearned money,” it said.

Under these scams, the PDIC said certain individuals pose as employees to dupe victims to believe they can “help” recover investments lost in the stock market for a fee, or tricks them into paying a sum of money in order to receive funds remitted from another country through the issuance of surety bonds for tax payments.

In another scam, the PDIC said a fake document purportedly issued by a bank with forged signatures of officials claims that international bank transactions require PDIC insurance for a fee.

“The PDIC advised the public to ignore calls, messages or emails from individuals with ‘too good to be true’ promises or information regarding return of investments, deposit insurance, money transfers or any financial-related transactions,” it said.

Moreover, the PDIC also reminded the public not to give their

personal and sensitive financial information to any person who claims to be an employee of a financial institution or government agency without verifying their documents and credibility.

“Scammers often pretend to be contacting individuals on behalf of a financial institution or government agency,” it said. “The best way to check their legitimacy is to directly contact the institution they say they are representing.”

As a state deposit insurer, PDIC said their mandate is to protect depositors by way of providing deposit insurance up to the maximum deposit insurance coverage of P500,000 per depositor.

It clarified it is neither involved in investments nor any means to recover loss from any investment.

The PDIC emphasized it doesn’t provide insurance for international fund transfers. It is also not a surety bond firm that insures the issuance of surety bonds for tax payments.

Thus, the PDIC warned “it shall not be liable for any financial implications resulting from any related act, promise, pledge or guarantee made in PDIC’s name by unauthorized individuals.”

It also urged the public to report the scams to PDIC Public Assistance Department through the hotline number (02) 8841-4141 or toll-free number 1-800-1-888-7342 (for those outside Metro Manila) during office hours, or through e-mail at pad@pdic.gov.ph. The PDIC said it also could be reached in its official Facebook account. Bernadette D. Nicolas

American Associations Day

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first wrote about public policy advocacy for associations in my March 19, 2021, column where I described “grassroots and grasstops” campaign tools. These are used by the American Society of Association Executives (Asae) to voice out issues its members care about and to reach out to elected officials and policymakers in Capitol Hill, i.e., the United States Congress in Washington, D.C. Another tool the Asae uses is the holding of the “American Associations Day.” This event is usually a multi-day legislative “fly-in” designed to facilitate communication between association executives and lawmakers. Its goal is to raise the elected officials’ awareness of issues in association work and desired policy changes.

Due to the pandemic, this year’s event on March 25 to 26 was held virtually where attendees got two days of content, focusing on the issues affecting associations in 2021, the associations’ role in civil discourse, and the importance of grasstops programs and digital advocacy.

This was the second consecutive year the Asae has held the event virtually due to the Covid-19 pandemic. The participants used the event to showcase to policymakers why associations are an important part of the policymaking process, and to prepare for virtual meetings with congressional offices to discuss specific issues important to the association community.

The American Associations Day 2021 was packed with educational content to help prepare association leaders in effectively advocating for the community. Over 300 attendees—association executives, association advocates, association vendors and those with vested interest in the association community—joined the Asae’s Policy Advocacy Team. The virtual congressional meetings were held to demonstrate their association’s impact and promote the “Power of Associations,” Asae’s platform to highlight the accomplishments of associations.

One bill the Asae and other associations support is the “Freedom to Invest in Tomorrow’s Workforce Act” that two legislators reintro-

Association World Octavio Peralta duced. Last year, the Asae and its grassroots supporters successfully swayed Congress to expand the “Paycheck Protection Program” to include deserving organizations, including associations, financially impacted by the pandemic.

Attendees participated in a virtual congressional town hall with two senators who championed the PPP expansion for associations last year. They also participated in another town hall with two congressmen. Attendees also had the opportunity to sign up for virtual Capitol Hill meetings with their respective members of Congress during the weeks to follow.

“That’s why American Associations Day is so meaningful,” Asae President Susan Robertson said.

“You have the opportunity to leave an impression on the lawmakers’ offices you visit—to create a better understanding of who we are as a community and how we can help in the development of informed public policy.”

The Asae’s “Power of Associations” campaign, including the American Associations Day, is intended to provide an objective snapshot of the US association community—a diverse, vibrant sector and powerful contributor to the country’s economy and quality of life.

While Asae’s public policy advocacy work remains aspirational in the context of the PCAAE, we hope to someday follow in the footsteps of the 100-year old Asae.

The column contributor, Octavio ‘Bobby’ Peralta, is concurrently the secretary-general of the Association of Development Financing Institutions in Asia and the Pacific, Founder & CEO of the Philippine Council of Associations and Association Executives and President of the Asia-Pacific Federation of Association Organizations. The purpose of PCAAE— the “association of associations”—is to advance the association management profession and to make associations well-governed and sustainable.

PCAAE enjoys the support of Adfiap, the Tourism Promotions Board, and the Philippine International Convention Center. E-mail: obp@adfiap.org.

Sports BusinessMirror

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

MEDICAL EXPERTS WARY OF TOKYO

PEOPLE walk past the Olympic rings in Tokyo. AP

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OKYO—The Tokyo Olympics open in under four months, and the torch relay has begun to crisscross Japan with 10,000 runners. Organizers say they are mitigating the risks, but some medical experts aren’t convinced.

“It is best to not hold the Olympics given the considerable risks,” Dr. Norio Sugaya, an infectious diseases expert at Keiyu Hospital in Yokohama, told The Associated Press. “The risks are high in Japan. Japan is dangerous, not a safe place at all.”

Sugaya believes vaccinating 50 to 70 percent of the general public should be “a prerequisite” to safely hold the Olympics, a highly unlikely scenario given the slow vaccine rollout in Japan.

Fewer than 1 percent of the population

has been vaccinated so far, and all are medical professionals. Most of the general public is not expected to be vaccinated by the time the Olympics open July 23.

“Tens of thousands of foreigners are going to be entering the country, including mass media, in a short period of time,” Sugaya said, “the challenges are going to be enormous.”

The Japanese government and local Olympic organizers have said vaccination is not a prerequisite for the Olympics, although the International Olympic Committee (IOC) is encouraging the 15,400 Olympic and Paralympic athletes to be vaccinated when they enter Japan.

The number of Covid-19-related deaths in Japan is about 9,000—far fewer than many countries—but Sugaya stressed the number is

among the highest in Asia.

Hospital systems are stretched, especially in hardest hit areas such as Tokyo.

Japan never pushed PCR testing, meaning few mechanisms are in place to prevent infection clusters. There hasn’t been a national lockdown, but the government has periodically issued a “state of emergency,” urging people to work from home and restaurants to close early.

Dr. Toshio Nakagawa, who heads the Japan Medical Association, expressed serious concern about what he called “a rebound” of coronavirus cases. He called for preventive measures.

“To prevent a fourth wave, we have to act forcefully and extremely quickly,” he told reporters earlier this month.

Taisuke Nakata and Daisuke Fujii, professors of economics at the University of Tokyo, have

Nietes touches down in Dubai

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ORMER world champion Donnie “Ahas” Nietes arrived smoothly in Dubai on Tuesday night three days before his comeback fight on Saturday against Colombian Pablo Carillo at the Caesars Palace.

It will be the 38-year-old Nietes’s first fight in two years.

Nietes’s trainer Edmund Villamor said on Wednesday that they flew from Cebu to the UAE capital, adding their flight was hitch-free.

“We’re doing fine after our arrival and there’s no quarantine here. We directly

went to our hotel after our swab tests,” Villamor said.

Villamor said Nietes is all primed up for the fight.

“He is one of the very disciplined boxers so I believe we’re going to be successful in this fight,” Villamor said.

The former four-division world champion Nietes (42-1-5 win-loss-draw record with 23 knockouts) and Carillo (25-7-1 record with 16 knockouts) will vie for the vacant World Boxing Organization international super flyweight belt. Josef Ramos

Table tennis athletes shift attention on Vietnam SEAG

By Miguel La Torre

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ITH the Tokyo Olympics already gone in the radar, the national table tennis athletes shifted their focus to the 31st Southeast Asian Games Vietnam is hosting from November 21 to December 3.

Rose Jean Fadol, Jannah Romero, John Russel Misal, and Jann Mari Nayre missed earning tickets to Tokyo after crashing out of the Olympic qualifying tournament and the Asian Singles Qualifying Tournament in Doha last week.

National team head coach Annabelle Comendador said her wards are now focused on an improved performance in Vietnam.

“Because of the exposure and experience we got from the qualifiers, I believe that we

are in a stronger position now in getting a medal,” Comendador said. “The qualifiers gave us a boost and it gave us a big help in our preparations.”

The Philippines managed only one bronze medal—Richard Pugoy Gonzales in men’s singles—in the Philippines 2019 SEA Games which Singapore dominated by winning two of the four golds at stake.

The national athletes, however, could only do individual training because of the imposition of the enhanced community quarantine.

“We are scouting past games, watching films of their matches in the qualifiers,” Comendador said. “After the ECQ, we’ll go back to our normal training routine with the table and paddles.”

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By Josef Ramos

OP Rank big boss Bob Arum believes mandatory Filipino challenger Michael “Hot and Spicy” Dasmariñas could dethrone Japanese International Boxing Federation and World Boxing Association bantamweight champion Naoya Inoue on June 19 in Las Vegas, Nevada.

Arum told BusinessMirror over a WhatsApp call the noted promoter used for the first time on Wednesday that the boxer from Pili (Camarines Sur) could become the world’s next biggest star if he gets the job done.

“I am not going to write him [Dasmariñas] off. He has a lot of energy,” Arum said.

“It’s an intriguing fight and that’s what we’re going to see. It’s really a tough, tough fight but that’s how you become a big star, Comendador said the country has more chances in Vietnam where seven gold medals will be disputed.

“Our chances of winning a medal [in Vietnam] have also increased because the hosts added three more events,” she said.

At stake in Vietnam are the men’s and women’s singles, doubles and team events and a mixed doubles competition.

The Philippine Table Tennis Federation, through the Philippine Sports Commission, has a bubble training camp at the Semicon Building in Pasig City.

Also in the camp are athletes John Michael Castro, Emy Rose Dael, and Angelou Joyce Laude. With Comendador is Coach Johan Remaneses.

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SMART’S very own athletes are quick to the draw in giving their share.

“This is a big help to the team, especially that we didn’t stop training even during the pandemic,” Caranto said.

The national team is preparing for the Vietnam 31st Southeast Asian Games in December and the Hangzhou 19th Asian Games

been carrying out projections for the spread of the coronavirus, adapting a standard epidemiological model but taking into account economic activity as measured by GDP and mobility data.

According to their projections, daily infection cases in Tokyo will total more than 1,000 people by May, peaking in July, right about the time the Olympics are on. Daily cases have hovered at about 300 people for Tokyo lately.

They say that’s an “optimistic” scenario that assumes vaccines will be gradually rolling out by then.

The other possible scenario has the government declaring a state of emergency as daily cases climb. That could mean the Olympics will be held in the middle of an “emergency.”

The professors declined to comment directly on the wisdom of holding the Olympics.

Despite the warnings, the Japanese government and Tokyo Olympics organizers remain

Arum: Don’t write off Dasmariñas in fight vs Inoue

Smart sports teams support dragonboat squad PORTS teams composed of Smart employees recently donated 275 kilos of rice to the Philippine National Dragon Boat Team through the telco’s Buy Local campaign.

The Smart athletes come from the Smart Communications Dragon Boat Team, Smart Football Team and Samahang Mananakbo ng Smart.

Darwin Flores, a member of the SDBT and Head for Community Partnerships at Smart, said that this is part of Smart’s continuous mission to enable communities using technology, including sports and agriculture.

“Buy Local is one of the ways to show how simple solutions can make a difference in the world. And we can do this together, forged by our connections, while also pursuing independent initiatives that help make our homes, our communities, our country, and the world a better place to live in for us and for the future generations,” Flores said.

The “Buy Local, Buy Smart” initiative that enjoins employees of Smart and their families to buy their rice directly from local farmers via https:// store.cropital.com to help increase the income of supported rice farmers. A portion of the sales also goes to a sustainability fund that provides farmers access to capital that will allow them to continue planting for the next cropping cycle.

Mabeth Caranto of the Philippine Canoe Kayak Dragon Boat Federation, which facilitates the training of the Philippine National Dragon Boat Team, thanked the SDBT for the support.

Thursday-Sunday, April 1-4, 2021 A9

in September 2022.

This assistance to the national team aligns with the broader program of Smart, parent company PLDT, and the MVP Sports Foundation, to support Filipino athletes and national teams.

you have to take the big fight.”

The 28-year-old southpaw Dasmariñas (30-2-1 win-loss-draw record with 20 knockouts) scored a devastating fifth-round technical knockout victory

determined to go ahead with the Games. Tokyo is officially spending $15.4 billion to prepare the Olympics, but several government audits say it might be twice that much. All but $6.7 billion is public money.

The chief driver of the Olympics is the IOC, which derives almost 75 percent of its income from broadcast rights and needs to get the games on television.

Organizers say they will hold a “safe and secure” Olympics by keeping athletes and officials in a “bubble,” administering periodic tests, and then getting everyone to leave Japan as soon as possible.

Last week the IOC said it would cut back on the number of accredited participants entering Japan, providing credentials only to those who “have essential and operational responsibilities.”

Japanese news agency Kyodo has reported, citing unidentified sources, that 90,000 people

are expected to enter Japan from abroad. About 30,000 of those are Olympic and Paralympic athletes, coaches, staff and officials.

That leaves 60,000, and Kyodo said the plan is to cut that to about 30,000, many of whom would be news media.

In addition, organizers said all ticket holders from abroad would be banned from entering.

Public opinion surveys show most Japanese want the Tokyo Games canceled or postponed again.

Taro Yamamoto, a former lawmaker, said Japan is not prepared to deal with an influx of travelers from abroad.

“If Japan has not been able to protect its own people, it cannot claim to be able to protect people from all over the world,” during the Olympics, he said. “To keep insisting the Games will go on is just madness.” AP

over Thailand’s Artid Bamrungauea in his last fight in October 26, 2019, in Valenzuela City. He didn’t fight in pandemic 2020.

Inoue, 27 and unbeaten in 20 fights with 17 knockouts, is coming from a seventh-round technical knockout win over Australian Jason Moloney last October 31 at the MGM Grand bubble in Las Vegas.

“It is a very, very good fight. The Filipino is a good, good pro, his hands are full because Inoue is a devastating fighter,” added Arum, noting that reigning World Boxing Organization bantamweight champion Johnriel Casimero would be next for Inoue if

he passes the test.

“If Inoue wins, he wants Casimero next,” Arum said.

Arum is hoping that by fight night, they will be allowed to fill half of the venue with fans.

“The people have been deprived for so long. So I am hoping by June we’ll be able to get 50 percent of the capacity,” said Arum, who is eyeing to hold the fight in one of the MGM properties in Las Vegas.”

“It’s not a lot of money, but it will help.

It’s better than zero,” added Arum, who also revealed he and his wife Lovee duBoef already got their Moderna vaccines.

A10 Thursday-Sunday, April 1-4, 2021 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

When vaccines can outrun infections

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loomberg’s vaccine tracker showed that as of March 31, more than 574 million doses have been administered across 141 countries. The latest rate was roughly 14.8 million doses a day. In the US, 148 million Americans have been inoculated.

Unfortunately, some Americans equate getting the jab to total immunity from the virus, which is not what science says. Health experts say people can still spread and even develop Covid-19 after getting a vaccine.

In the first week of March, governors in Mississippi, Texas, Alabama, Arizona, West Virginia and Connecticut announced significant loosening of statewide pandemic restrictions like mask mandates and indoors-capacity limits.

From Bloomberg News: “The head of the Centers for Disease Control and Prevention pleaded with Americans to wear masks and stick with Covid-19 mitigation measures, warning of ‘impending doom’ as cases, hospitalizations and deaths begin to rise again. Rochelle Walensky, speaking at a press briefing Monday, fought back tears as she outlined a series of warning signals and said she was frightened about a looming fourth wave of Covid cases. The seven-day average for new daily Covid-19 cases is now almost at 60,000, up 10 percent from the prior week. Hospitalizations are also up, to about 4,800 a day from 4,600 a week earlier. Deaths, a lagging indicator, have also started to rise again,” she said.

In Turkey, the AP reported that the number of infections hit a record on Tuesday, with the Health Ministry confirming 37,303 new cases in the past 24 hours. The country of nearly 84 million also reported 155 deaths on Tuesday, up from around 65 at the start of the month. In a televised address following a Cabinet meeting late Monday, President Recep Tayyip Erdogan said 58 out of Turkey’s 81 provinces, including Istanbul and Ankara, were now designated as “red” or “very high-risk” areas and would be subjected to lockdowns.

From the Associated Press: “Critical care doctors in Paris say surging coronavirus infections could soon overwhelm their ability to care for the sick in the French capital’s hospitals, possibly forcing them to choose which patients they have the resources to save. The sobering warnings were delivered Sunday in newspaper opinions signed by dozens of Paris-region doctors. They came as French President Emmanuel Macron has been vigorously defending his decision not to completely lockdown France again as he did last year. Since January, Macron’s government has instead imposed a nationwide overnight curfew and followed that with a grab bag of other restrictions. But with infections soaring and hospitals increasingly running short of intensive-care beds, doctors have been stepping up the pressure for a full French lockdown.”

On Saturday, the government placed Metro Manila and four adjacent provinces—Bulacan, Cavite, Laguna and Rizal—under enhanced community quarantine from March 29 to April 4 in an effort to stop the record surge of Covid-19 infections. The Philippines has recorded more than 741,000 Covid-19 cases and more than 13,000 deaths from the virus. Current infections are averaging at a daily high of more than 9,000. Although this is still low compared to Turkey’s 37,303 new cases, the Duterte administration needs to do its best to contain infections with stricter measures until it can outrun them with nationwide vaccinations.

All over the world, it’s still a life-and-death contest between the vaccine and the virus as new variants threaten renewed outbreaks.

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Forging a green social contract: A must-do for Asia’s labor movements Dr. Rene E. Ofreneo

LABOREM EXERCENS

‘G

reen-minded” politicians in the world have been spouting about the importance of a “green new deal” (GND), or a blueprint to stop the catastrophic global warming of Planet Earth. They are joined by CEOs who have embraced a green CSR framework in corporate operations.

The discourse on GND is loudest in Europe and North America. Recently, Ursula von der Leyen, president of the European Commission, and Werner Hoyer, president of the European Investment Bank, reiterated the call of the UN Environmental Programme (UNEP) for a “global green deal” on the de-carbonization of the world in order to limit the rise in global temperature to 1.5-degree Celsius. The two are proposing investments in green energy solutions, breakthrough green technologies (such as clean hydrogen and green energy storage), and circular energy (with focus on the re-use or recycling of materials).

In the United States, Washington’s commitment to the Paris Agreement of 2015 on climate change has been revived with the election of Joe Biden. He appointed John Kerry, a strong advocate of clean energy, as America’s climate ambassador. Further, Biden declared his administration’s goal of pushing for a $2 trillion investment package for clean energy to make America’s electricity carbonfree by 2035 and for the country to achieve net-zero greenhouse emissions by 2050.

But within the Democratic Party of Biden, there are voices calling for even much bolder measures. One of them is Alexandria Ocasio-Cortez,

who has been articulating the message of the young visionary leaders of the Democratic Socialists of America (DSA): climate change is a labor issue. Ocasio-Cortez, a waitress-turned-congresswoman in New York, has a resolution seeking a “10year national mobilization” to reduce carbon emissions. The mobilization program envisions the following critical components: n Sourcing of electricity only from renewable and zero-emissions power plants, n Building or upgrading “smart” power grids, n Building resiliency against climate-change risks and disasters, n Restoring forests to remove greenhouse gases from the atmosphere, n Working with farmers to cut emissions from the agricultural sector, and n Creation of millions of highwage jobs in a green economy.

The rationale for the DSA’s GND is well-articulated in the book A Planet to Win: Why We Need a Green New Deal, written by Kate Aronoff, Alyssa Battistoni, Daniel Cohen and Thea Riofrancos.

The existential climate change threat is a labor issue and requires solutions in support of the working people. In short, a GND is meaning-

less if the social and labor dimensions are not spelled out. A GND is inextricably linked to finding solutions to other societal problems such as poverty, unemployment and inequality.

The GND, as advanced by OcasioCortez and the DSA, has received the support of the International Trade Union Council and workers’ movements in a number of countries.

The ITUC itself has a long-running campaign enlisting workers and other segments of society to join the global campaign against global warming. The ITUC explained that there are “no jobs on a dead planet.”

It summarized beautifully the critical importance of the battle against climate change as follows: “WE know the science is unequivocal—The world’s temperature is rising, current trends will lead us to a 4 degrees celsius average increase or more in this century and without urgent, ambitious action we will face irreversible changes in our climate.

“WE have policy—The ITUC wants the world’s governments to agree on climate action and give us a fighting chance to limit the temperature rise to 2 degrees or less.

“WE are out of time—Climaterelated catastrophes such as cyclones, floods, drought, fires, melting glaciers, season changes and more are increasing and hurting working people now. Their impacts will only become stronger within 15 years— this will destroy more communities and jobs.

“WE demand industrial transformation—Science tells us we need to urgently stabilize carbon emissions at 44 Gigatonnes. Business as usual gets us to 59 Gigatonnes by 2020.

It doesn’t add up. All our economic sectors must change. We demand to be part of the industrial transformation with universal access to breakthrough technologies that will make our industries and our jobs sustainable for workers everywhere.

“WE demand a just transition— We have played our role in UN negotiations and fought and won commitments to ‘Just Transition.’ Now we want to see the transition happen on the ground, including through investment in new green jobs, skills, income protection and other necessary measures implemented everywhere, with adequate funding for the poorest and most vulnerable of nations.”

Fine. The problem is that the workers’ movements in the Philippines and other Asian countries are not making the same level of noise being created by the GND labor advocates in America and Europe. GND is often seen as the advocacy of the do-gooders among the consciencestricken business people, middleclass environmentalists, Church activists, concerned academics, investigative journalists and environmental conservationists. Governments readily call for tripartite conferences on minimum wage and employment issues, and yet, there are hardly any on climate change.

Fleshing out the GND is also problematic. In Asia, the call of UNEP for a global GND is interpreted to be mainly a plea to governments to reduce the GHG emissions issue on a country by country basis. Hence, the numerous discussions, seminars and conferences are on energy transition and exclude representatives of the trade and peasant unions, informal sector associations, transport workers’ organizations, urban poor and indigenous people movements and other organized groups at the grassroots.

To repeat, climate change is a labor issue. To tame the climate change risks, we can only agree with OcasioCortez, national mobilization involving the working people is a must.

Dr. Rene E. Ofreneo is a Professor Emeritus of University of the Philippines.

For comments, please write to reneofreneo@ gmail.com.

Volkswagen hoaxes media with fake statement on name change

By Tom Krisher | AP Auto Writer

D

ETROIT—Volkswagen of America issued false statements this week saying it would change its brand name to “Voltswagen,” to stress its commitment to electric vehicles, only to reverse course on Tuesday and admit that the supposed name change was a joke.

Mark Gillies, a company spokesman, confirmed Tuesday that the statement had been a pre-April Fool’s Day joke after having insisted Monday that the release was legitimate and the name change accurate. The company’s false statement was distributed again Tuesday, saying the brand-name change reflected a shift

to more battery-electric vehicles.

Volkswagen’s intentionally fake news release, highly unusual for a major public company, coincides with its efforts to repair its image as it tries to recover from a 2015 scandal in which it cheated on government emissions tests and allowed diesel-powered vehicles to illegally

Late Tuesday, VW issued a statement confirming that it won’t be changing its brand name to “Voltswagen.” “The renaming was designed to be an announcement in the spirit of April Fool’s Day,” the company said. pollute the air.

In that scandal, Volkswagen admitted that about 11 million diesel vehicles worldwide were fitted with the deceptive software. The software reduced nitrogen oxide emissions when the cars were placed on a test machine but allowed higher emissions and improved engine perfor-

mance during normal driving. The scandal cost Volkswagen $35 billion (30 billion euros) in fines and civil settlements and led to the recall of millions of vehicles.

The company’s fake news release, leaked on Monday and then repeated in a mass e-mail to reporters Tuesday, resulted in articles about the name change in multiple media outlets, including The Associated Press.

In falsely announcing a name change, the company went beyond telling reporters that its news release was legitimate. On Tuesday, the company emailed to reporters See “Volkswagen,” A11

Opinion BusinessMirror

www.businessmirror.com.ph

Thursday-Sunday, April 1-4, 2021 A11

German leaders meet as In the light of the resurrection some governors halt AstraZeneca for under-60s Msgr. Sabino A. Vengco Jr. They did not understand

buried, is the same Jesus now alive, who left the tomb and repeatedly appeared to them.

By Frank Jordans Associated Press

B

ERLIN—German Chancellor Angela Merkel held a crisis meeting on Thursday with state governors amid fresh concern over unusual blood clots reported in people who received AstraZeneca’s coronavirus vaccine.

Several German regions suspended use of the shots in people under 60, and the country’s independent vaccine expert panel recommended restricting them to people above that age after reviewing the latest data on the rare side-effects released by Germany’s medical regulator.

The news is a further blow to the vaccine, which is critical to Europe’s immunization campaign and a linchpin in the global strategy to get shots to poorer countries. It comes less than two weeks after the EU drug regulator said the vaccine does not increase the overall incidence of blood clots following a similar scare.

The European Medicines Agency said at the time that the benefits of vaccination outweigh the risk, but it could not rule out a link between the shot and some unusual kinds of clots and recommended adding a warning about possible rare side-effects.

Authorities in Berlin, Munich, Brandenburg state and the country’s biggest state, North Rhine-Westphalia, made the decision to temporarily halt vaccinations for younger people after the country’s medical regulator said it had received additional reports of an unusual form of blood clot in the head, known as sinus vein thrombosis, in recent recipients of the AstraZeneca vaccine. All together, those areas are home to almost a third of the German population.

The Paul Ehrlich Institute said a total of 31 such blood clots were reported by March 29 out of some 2.7 million doses of AstraZeneca that have been administered across the whole of Germany so far. Nine of the people died and all but two of the cases involved women, who were aged 20 to 63, it said.

In a statement, AstraZeneca said that tens of millions of people worldwide have received its vaccines and noted the EMA’s conclusion that the benefits of the shot outweigh the risks.

The company said it would continue to work with German authorities to address any questions they might have, while also analyzing its own records to understand whether the rare blood clots reported occur more commonly “than would be expected naturally in a population of millions of people.”

The suspensions come as Germany, along with other European countries, is scrambling to ramp up its vaccine program, which lags far behind those in Britain and the United States. By Monday, some 13.2 million people in the country had received at least one dose of vaccine, while nearly 4 million had received both shots.

Use of the AstraZeneca vaccine was temporarily halted in several European countries earlier this month over concerns about the rare blood clots. After a review by medical experts at the European Medicines Agency, most European Union countries, including Germany, resumed use of the vaccine on March 19.

On Monday, Canada suspended use of the AstraZeneca vaccine in

Volkswagen. . . continued from A10

a press release that quoted its CEO announcing the fake change: “We might be changing out our K for a T, but what we aren’t changing is this brand’s commitment to making best-in-class vehicles for drivers and people everywhere,” Scott Keogh, president and CEO of Volkswagen of America, said in the release.

The fake release could land Volkswagen in trouble with US securities

people under 55, citing new concerning data from Europe.

“There is substantial uncertainty about the benefit of providing AstraZeneca Covid-19 vaccines to adults under 55 given the potential risks,” said Dr. Shelley Deeks, vice chair of Canada’s National Advisory Committee on Immunization.

Deeks said the updated recommendations come amid new data from Europe that suggests the risk of blood clots is now potentially as high as one in 100,000, much higher than the one in one million risk believed before.

Two state-owned hospitals in Berlin announced on Tuesday that they had stopped giving the AstraZeneca vaccine to female staff members under 55. The heads of five university hospitals in western Germany called for a temporary halt to the vaccine for all younger women, citing the blood clot risk.

Berlin state’s top health official, Dilek Kalayci, said the suspension of AstraZeneca vaccines for younger people was done as a precaution.

“We have not had a case of serious side-effects in Berlin yet,” she said, adding that all of those who had received the AstraZeneca shot already could rest assured that it provides good protection against the coronavirus.

“Still, we need to treat it carefully and wait for the talks taking place at the federal level,” said Kalayci.

The decision could affect appointments for tens of thousands of teachers and people with preexisting conditions who received invitations to get vaccinated in Germany’s capital in recent days. Appointments for the AstraZeneca shot were available sooner than ones for the vaccines made by Pfizer-BioNTech and Moderna.

German news agency dpa quoted a spokesman for Munich, the country’s third-largest city, saying that the suspension of AstraZeneca vaccinations for people younger than 60 would last “until the issue of possible vaccine complications for this group of persons has been resolved.”

Scientists at the University of Greifswald, Germany, this week published the results of their investigation into the possible causes of the blood clots, saying the condition is similar to a side effect seen in some patients who receive the blood thinning medication heparin.

The study, which hasn’t been peer-reviewed yet, doesn’t provide a conclusive explanation for why some people vaccinated with the AstraZeneca shot develop the rare blood clots. Still, experts not involved in the study said it offers important information to doctors.

Alice Assinger, a specialist in vascular diseases and blood clot research at the Medical University of Vienna, said there is a treatment for the rare clots.

A further concern is that the latest hitch may further dent the shot’s reputation in the public eye.

The leader of the Norwegian Association for General Practice, Marte Kvittum Tangen, told Norway broadcaster NRK last week that while “there is no report of a general vaccine resistance... people clearly say that they do not want the AstraZeneca vaccine. There is a lot of uncertainty and skepticism.” AP medical writer Maria

Alálaong Bagá

O

ur Easter gospel narration (John 20:1-9) tells us that our faith in the risen Christ enables us to interpret the contradiction of the cross in our life as Christians. The resurrection is central to our life of faith, and we are called to an ongoing and profound recognition of this mystery in our daily life.

The empty tomb The friends of Jesus did not anticipate his resurrection; his disciples despaired of him as the promised messiah when they witnessed him executed on the cross. And when the empty tomb was discovered, there was no conclusion that he had risen.

“The Lord has been taken from the tomb! We don’t know where they have put him.” Clearly, the Christian faith in the resurrection and victory of Jesus is not based on the empty tomb, but on the appearances of the risen Lord to his followers. In fact, the empty tomb was not part of the earliest tradition about the resurrection of Jesus as found in Paul’s First Letter to the Corinthians (15:4-8).

The ambiguity of the empty tomb is resolved for those who believed in Jesus’ resurrection by virtue of his appearances to them.

Nonetheless, the empty tomb, although proving nothing, hinted at what had happened, the bodily resurrection of Jesus. In John’s account, the disciple whom Jesus loved played the role of the interpreter of the empty tomb and the burial cloths. The body was not stolen; the shroud and veil were all there neatly rolled up. The beloved disciple saw all these and believed. The same Jesus who had taught them, healed the sick and freed the possessed from evil before their eyes, broke bread with them, and was executed and

The evangelist’s editorial comment about the disciples “as yet they did not understand...about Jesus rising from the dead,” can be the most significant statement in our gospel narration of the event. The truth of the resurrection was something that took time to seep in and be integrated into the disciples’ new awareness of things. From the early centuries, even skeptics among the Christians would suggest that the so-called resurrection appearances of Jesus must have been made up by the disciples who were very traumatized by the death of their master.

In view of this innate difficulty to grasp the mystery of Easter, St. Paul nevertheless spelled out in all clarity the implications: “If Christ has not been raised, then empty is our preaching; empty, too, your faith... you are still in your sins...we are the most pitiable people of all” (1 Corinthians 15:14.17.19).

Unprepared, assisted by signs but still without the proper understanding, the disciples needed to struggle with themselves. But the clear reference was to the guidance available in

the Scriptures. It was in the light of Sacred Scriptures that they would come to recognize that the resurrection of Jesus was not simply a return to his pre-execution life, nor the last act of a life vindicating the previous humiliation, but the first moment of a new and eschatological dimension intended for all humankind. Jesus has become by virtue of his resurrection the norm for our relationship with God and with one another that will culminate in our own resurrection. And the Word of God is the basis of our faith.

Alálaong bagá, Jesus lives. Our celebration of Easter is our commemoration of his resurrection.

The fact that he rose in glory and triumphant over sin and death vindicated who he was and what he had done. We rejoice in the fact that through him and with him and in him we also live today with the life of love that is from God and for an eternity of tomorrows. We know we are graced in the assurance that not death but life in its fullness is to be the final word for us because of the risen Christ.

Join me in meditating on the Word of God every Sunday, from 5 to 6 a.m. on DWIZ 882, or by audio streaming on www.dwiz882.com.

A key to bridging the political divide: Sit down and talk?

Cheng in London contributed to this report

“I am not ever concerned about people arguing with each other, because that’s healthy,” Isay said. “But I was concerned with people treating one another with contempt.”

Isay, the recipient of a MacArthur “genius” grant, the winner of six Peabody awards and the founder of the oral history project StoryCorps, hatched an idea: The surest way to start rebuilding common ground, he decided, was to gather people of differing views and backgrounds to sit down and simply talk to each other.

It wouldn’t solve everything. But he felt it was a start, and he named his initiative accordingly: One Small Step.

One Small Step, which Isay established in 2018, is among a growing number of nonprofit initiatives whose aim is to narrow America’s increasingly toxic political divide. Philanthropic groups, which by law must remain non-political, may be ideally suited to serve that goal. Foundations last year donated $57 million to such civic education and leadership programs, according to the research group Candid.

“One Small Step is all about this idea that we don’t have to treat each other with contempt—that you can look across the political divide and see each other as human beings,” Isay said.

Which is what Gail Robinson and Kate Gareau found themselves doing late last month in a discussion organized by One Small Step that will eventually be heard in a StoryCorps podcast.

Robinson is a 74-year-old retiree who served in the administration of former Democratic Gov. Tim Kaine of Virginia.

Gareau is a 42-year-old real estate agent.

The two women live in Richmond, about 20 minutes apart. Yet they’d never met and probably never would have, if not for their joint involvement in One Small Step. During an hourlong conversation, Robinson and Kate

Gareau reflected on their families and their spirituality. For both women, though, the most powerful experience was recognizing their commonalities.

“I’ve been involved in racial reconciliation efforts going back to high school, when I was in the NAACP Youth Council,” Robinson said. “So this is something that’s very dear to my heart.”

“Our values are very similar,” she added. “I’ve never made judgments about people based on their political affiliation. That has nothing to do with your character—unless you act like an idiot. How we deal with each other— civility—matters. Dignity matters.”

Gareau, a political independent, arrived at a similar discovery.

“There is so much focus on people’s differences, especially where politics is concerned, that many forget how similar they are,” she said. “Between Covid and the election, we feel very insular, and we feel very separate. Showing we’re not is really important.”

That hardly means the two agree on political or other issues.

“While we talked about politics— and I can guess where she stands and she may guess where I stand—we didn’t really talk about politics in finite terms,” Gareau said. “I really appreciate her and her perspective, and I feel like she really appreciates me and my perspective.”

After their conversation, Gareau and Robinson each reached out to StoryCorps to provide their contact information to the other. They plan to stay in touch and hope to meet in person once Covid-19 restrictions have eased.

As Isay describes it, One Small Step is predicated on the theories of Gordon Allport, a Harvard professor who studied the roots of prejudice and discrimination in the 1950s.

“When you put enemies face to face, and they have a visceral experience with one another, that sense of hate and fear can melt away and you can

see the person in a new way,” Isay said.

Yet, he cautioned, “if you do it wrong, you can make things actually much worse.”

For that reason, StoryCorps began its new initiative gradually. But as One Small Step has developed, expansion has followed, with roughly 800 people meeting in pairs in about 40 cities. In Austin, Texas, for example, Amina Amdeen and Joseph Weidknecht discussed being on opposite sides at a rally protesting Donald Trump and yet still finding common ground. On the StoryCorps Connect app, a father and son strengthened their bond after decades of feeling distant from each other.

Some recorded conversations became part of the StoryCorps podcast or broadcast on NPR. Like all StoryCorps conversations, they were entered into the Library of Congress to be preserved as history. And this month, boosted by a national advertising campaign from The Ad Council, One Small Step is ready to grow even larger.

“The dream with One Small Step is that we convince the country it’s our patriotic duty to see the humanity in people with whom we disagree, which is a complete moon shot,” Isay said.

In the interest of fostering evenhandedness, StoryCorps has engaged both liberal and conservative donors.

One Small Step’s donors include the Hearthland Foundation, funded by Steven Spielberg and Kate Capshaw, well-known as progressive Hollywood donors, and the Charles Koch Initiative, funded by the billionaire philanthropist known for his support of Republican candidates and conservative issues.

“We’ve long held a vision of a world where people collaborate to solve problems and respect each other as different,” said Sarah Ruger, director of free speech initiatives at the Charles Koch Institute. “What actually helps people connect across differences and builds those bridges? It turns out stories are one of the most powerful ways.”

Rachel Levin, executive director of The Hearthland Foundation, noted that as storytellers themselves, Spielberg and Capshaw recognize the potency of storytelling and have supported Isay’s work in StoryCorps for two decades. The USC Shoah Foundation, which Spielberg established in 1994,

regulators because its stock price rose nearly 5 percent on Tuesday, the day the bogus statement was officially issued. Investors of late have been responding positively to news of companies increasing electric vehicle production, swelling the value of shares of Tesla as well as of some EV startups.

James Cox, who teaches corporate and securities law at Duke University, said the Securities and Exchange Commission should take action to deal with such misinformation, which can distort

stock prices.

“The whole market has gone crazy,” Cox said. “We need to throw a pretty clear line in the sand, I believe, about what is permissible and what isn’t permissible.”

This week’s Volkswagen incident bears some similarity to one in 2018 in which Tesla’s CEO Elon Musk tweeted that he had the funding secured to take the company private—a comment that drove up the stock price, Cox noted. Later, it was revealed that the funding had not been lined up. Musk and Tesla

each agreed to pay $20 million in penalties to the SEC. Erik Gordon, a business and law professor at the University of Michigan, said he thought that for the SEC to be interested, it would have to believe that VW knowingly issued the fake news release to manipulate its stock price.

“I don’t think the SEC is going to see this as stock price manipulation any more than when General Motors or Ford or Toyota or anybody talks about their [electric vehicle] future,” Gordon said. “It is incredibly stupid,

but if being stupid were illegal, a third of the CEOs in the US would be in jail.”

A message was left Tuesday seeking a comment from the SEC. Late Tuesday, VW issued a statement confirming that it won’t be changing its brand name to “Voltswagen.”

“The renaming was designed to be an announcement in the spirit of April Fool’s Day,” the company said.

Tim Calkins, a clinical professor of marketing at Northwestern University, said April Fool’s jokes are common in marketing. But he said

By Glenn Gamboa | AP Business Writer

N

EW YORK—A few years ago, Dave Isay started worrying about America as he saw the middle ground between the political parties vanish into what he calls “disconnection and a vast void.”

has worked to preserve the stories of Holocaust survivors and witnesses.

“Storytelling is key because you’re helping to humanize the other,” Levin said. “We live in such silos in our country. There’s something about hearing somebody else’s story, especially in audio. There’s something so intimate about that.” “People need to know each other,” Levin added. “They need to understand each other’s experiences, their perspectives and One Small Step is helping that happen.”

Likewise, Ruger said it’s important for philanthropic groups to model the kind of partnerships they want to see in society.

“Innovation is the bottom line,” she said. “And innovations require intellectual challenges and diversity.”

Heidi Arthur, The Ad Council’s chief campaign development officer, said One Small Step matches her group’s Love Has No Labels campaign, which manages to “take the most divisive moments in our country and bring people messages of unity and hope around inclusion.” That campaign, launched in 2015, has included recent commercials addressing the rising number of anti-Asian hate crimes during the pandemic. “There’s no silver bullet,” Arthur said. “But, you know, a lot of meaningful actions can add up to a real seismic shift in how people relate to each other.”

One Small Step was initially meant to be done face-to-face, with plans to take it online in 2023. But Isay said the pandemic changed that. Last April, with the help of communications platform Vonage, which donated $1 million in bandwidth to the project, One Small Step was up-and-running digitally.

“Remote interviews in some ways are more effective than face-to-face interviews because you don’t have to worry about geography,” Isay said.

“These are still strangers coming together, and people just feel a little bit safer digitally.”

That feeling of safety may be a key to its success.

“There’s a place for shouting, but there’s also a place for whispering in people’s ears,” Isay said. “Change can happen that way, too. We’re hopeful that we’ll be able to help the country take one small step back from this abyss that we’re standing at right now.”

it’s rare for a company to deliberately mislead reporters.

“The problem is that in the short run, you can fool people, and it seems cute and entertaining,” Calkins said.

“But in the long run, you really do need positive and good relations with the media. For a company that already has credibility problems, this is really a strange move.”

Calkins said that while the incident might not hurt VW with consumers, the company needs good relations with reporters to build its brand image over time.

A12 Thursday-Sunday, April 1-4 , 2021

ERC, Meralco cautioned vs new power bill shock

T

HE Senate’s Energy Committee chairman asked both the state regulator and power distributor Meralco to avoid inflicting “another round of bill shock” on electric consumers.

Sen. Sherwin Gatchalian asked concerned authorities to closely oversee the conduct of onsite electric meter reading following heightened restrictions imposed under the enhanced community quarantine (ECQ) to avoid a replay of last year’s widespread complaints from bill shocked consumers.

“We do not want a repeat of the widespread confusion over skyrocketing electric bills last year in the wake of the ECQ imposition,” the senator said in a statement on Wednesday. As of late Tuesday, officials said the extension of the weeklong ECQ beyond Easter (April 4) is still possible, and will hinge on discussions this Saturday.

Gatchalian said those concerned “should have learned a lesson on that to avoid another round of bill shocks,” adding in Filipino, “We don’t want a repeat of the confusion ensuing from last year’s sudden surge in billings after one month of ECQ. Those concerned should have learned how to avoid another bill shock.”

Continued on A4

DTI eyes June ’21 end of FTA talks with Korea

T

By Tyrone Jasper C. Piad

@Tyronepiad

HE Department of Trade and Industry (DTI) wants to complete by June the free trade negotiations with South Korea, which have been delayed by the Covid-19 pandemic.

Trade Undersecretary Ceferino Rodolfo, in a recent interview with reporters, said that Manila and Seoul will have a bilateral meeting in the first half of April to discuss their technical needs under the free trade agreement (FTA), including market access.

“It’s now timely to resume negotiations on the remaining issues, in particular on the market access for goods,” Rodolfo said. “On the Philippines’s side, our aim is to be able to conclude discussions and resolve all the divergent issues by end of June this year.”

Apart from the pandemic, the DTI official traced the delays in the discussion to a vacancy in South Korea’s chief negotiator post. Rodolfo said Seoul just recently appointed an official, his counterpart.

Rodolfo wants to fast-track the process so the deal can be presented

to Congress for approval before the 2022 elections. He said it will still take a few months for the parties to sign the FTA after the negotiations are completed, if ever, in June to make way for further review.

In 2019, the Philippines and South Korea launched their FTA negotiations with the hope of concluding talks by November of the same year. But the parties only signed an early achievement package in 2019, moving the deadline to first half of 2020.

At the time, they had only settled a chapter on competition. Manila and Seoul are yet to work on other matters, including trade in goods, trade in services, investments, rules of origin, economic and technical cooperation and legal and institutional issues.

The DTI also targeted deadlines to finish the FTA talks last year—

one in April and another in November—but was not able to meet them as well. The Philippines is eyeing to reduce, if not lift, the tariff on agricultural products shipped to Korea, particularly bananas, under the FTA deal.

Currently, the country’s banana shipments to Seoul are given 30-percent duty. This puts the Philippines at a disadvantage given that Central American countries and Vietnam are given or will receive preferential treatment on their banana exports to South Korea.

South Korea, meanwhile, is asking the Philippines to eliminate the 5-percent tariff for vehicles 3,000 cc and below.

According to the Philippine Statistics Authority, the country’s exports to Korea dropped by 22.1 percent to $2.53 billion last year from $3.24 billion year-on-year. Imports from Korea, meanwhile, amounted to $6.68 billion last year, which is 21.2 percent lower than $8.48 billion in 2019.

Should the PHL-Korea FTA deal be signed, it will be the country’s second bilateral trade agreement following the Philippines-Japan Economic Partnership Agreement (Pjepa).

Pjepa, which entered into force in 2008, is under a general review this year.

NYC ATTACK ON 65-YR-OLD PINAY SPURS BIG OUTRAGE

By Recto Mercene

T

@rectomercene

HE Department of Foreign Affairs (DFA) on Wednesday said the apparently race-driven assaults on many Asian-Americans in the past months in several key United States cities could affect the country’s foreign policy.

“This is gravely noted and will influence Philippine foreign policy,” tweeted Foreign Affairs Secretary Teodoro L. Locsin Jr., without elaborating. He added that the Filipinos consider racial brutality seriously.

His remark was triggered by a video that had gone viral on social media, of a 65-year-old immigrant of Filipino descent who was attacked in New York’s Times Square. A burly, swarthy man kicked her while she was walking. After she fell, the man stomped on her head three times, yelling, “F—k you. You don’t belong here.”

Security guards in a bank nearby failed to intervene, and did not offer any help, footage showed, with one guard even closing the door.

Social media erupted with disgust at what is the latest in a recent series of attacks on

Asian-Americans: “DISGUSTED beyond words. A 65-yearold Asian lady brutally kicked and beaten in broad daylight in Manhattan. Worse three bystanders did nothing!! Even more worse, the security guard closed the door to ignore it!!

She is still hospitalized with fractured pelvis.”

Another netizen twitted: “Warning, graphic video: another angle of a 65-year-old Asian woman being brutally attacked on W 43rd St. yesterday. Police still looking for the attacker. The people who work in the building and did nothing to help her have been suspended.”

Locsin, a former journalistlawmaker, offered a sarcastic version of the immortal words etched on the plinth of the Statue of Liberty: “Give me your tired, your weary, your short and slinky eyed, those who can’t fight back so we can kick them to death like the cowards we are.”

The situation has become so scary for Asian Americans that Andrew M. Yang, an American entrepreneur, politician, political commentator, philanthropist and author, is advising “no Asians should walk outside alone but to only go out in pairs.”

Continued on A4

Companies BusinessMirror

www.businessmirror.com.ph

Thursday-Sunday, April 1-4, 2021

B1

Manila Water, govt ink new concession deal

J

By Joel R. San Juan

@jrsanjuan1573

USTICE Secretary Menardo I. Guevarra on Wednesday confirmed that the government and Manila Water Co. Inc. (Manila Water) have signed a new concession agreement.

Guevarra said the revised agreement was signed on Wednesday by the Metropolitan Waterworks and Sewerage System (MWSS), as representative of the government, and the

officials of Manila Water.

“The new concession agreement with Manila Water has been signed by the parties. The panel will start discussions with Maynilad after the

Holy Week,” Guevarra said.

Guevarra assured that the new contract would pave the way for “better overall service and more reasonable charges to consumers.”

The Department of Justice (DOJ) chief, however, could not say if the government would no longer pursue criminal action against the executives of water concessionaires Manila Water and Maynilad Water Services Inc. and government officials behind the “onerous” 1997 contracts.

“The new agreement is a lot more equitable than the original one, but I can’t say with any certainty if the government will still pursue any legal action arising from the old

agreement, there are many factors to consider,” said Guevarra.

The provisions of the new agreement was drafted by the government panel handling the review of the new water concession agreement composed of the DOJ, Office of the President, Department of Finance, Office of the Solicitor General, Office of the Government Corporate Counsel, and Bases Conversion and Development Authority President and Chief Executive Officer (CEO) Vivencio Dizon.

The government has yet to disclose the key provisions of the agreement but Guevarra earlier said it would reflect key agreements on

JG Summit suffers ₧468-M loss

By VG Cabuag @villygc

J

G Summit Holdings Inc., the holding firm of the Gokongwei Group, on Wednesday said it incurred a loss of P468 million for the entire 2020, a reversal of the P31.28-billion income in the previous year.

The holding firm’s operations were dragged by its budget airline which was affected by global flight restrictions following a series of lockdowns in many countries due to the Covid-19 pandemic.

Consolidated revenues for the year fell P221.6 billion, 27 percent lower from the previous P301.82 billion in 2019.

The company, however, reported a core income of P450 million, still down by 98 percent from the previous year.

“With our long term view, we will continue to invest in the necessary assets and capabilities needed to sustain the business in the years to come. This will allow us to take advantage of emerging opportunities as the economy pivots back to growth,” JG Summit President and

SMC food assistance hits ₧11M

C

onglomerate San Miguel Corp. (SMC) on Wednesday said its total donation to its ongoing food assistance program for poor communities affected by stricter quarantine protocols reached P11 million, as it extended its program to nearby provinces, such as Cavite and Laguna.

Thecompany’spresidentandCOORamonS.Ang said that soon as delivery of the first batch of food donations for Metro Manila cities started earlier this week,thecompanymayexpandtonearbyprovinces, especially those areas that are host to its facilities.

Areas that will receive donations of its ready-to-eat products include local government units in Metro Manila, Cavite and Laguna. The food packs consist of fully-prepareddishesthatcanbeheatedandserved.

The donation is seen to benefit over 19,500 families in these areas.

“While these stricter quarantine restrictions are necessary to curb the rising number of Covid-19 cases and reduce the strain on our health care facilities and workers, for many people who earn a living on a daily basis, hunger is an issue. Putting food on the table is a constant worry, especially if you can’t work for days,” Ang said.

“Through these food donations, we hope to be able to help local governments address the needs of vulnerablecommunities,andhopefully,helppeople to remain safe in their homes.”

Initially, the company donated some 86,400 pieces of canned goods to benefit around 17,280 families in 16 Metro Manila cities and municipalities. It also donated 148,000 packs of nutribuns for soup kitchens, hospital front liners, and villages in granular lockdown in Pasig.

“We will continue to work with the local government units to assess the needs of vulnerable communities in their areas and look at what other assistance we can provide. This implementation of enhanced community quarantine may be hard for most of us, but it’s something I know we can all get through,” said Ang. VG Cabuag

CEO Lance Gokongwei said.

“As we cautiously embark on this challenging path to recovery, our utmost priority is the health and welfare of our employees. Aligned with our purpose, we will also continue to provide better choices and the best value for our customers while ensuring business continuity and the exercise of prudence in liquidity and cost management. We will also support the government and the communities where we operate in as the vaccination program is rolled out. This is a necessary must to jumpstart the economy towards the new normal.”

The company said it had a doubledigit revenue growth in its banking and office segments, robust sales in food, and higher dividends from its telecommunications investment, which tempered the negative impact of the pandemic on the company’s overall operating results.

Its petrochemical unit saw lower sales volumes and selling prices on the back of weaker global industrial demand while its air transport business was severely impacted by flight restrictions particularly in the onset of the enhanced community quaran-

tine. Equity earnings from its core investments in Manila Electric Co., Global Business Power Corp. and United Industrial Corporation all declined year-on-year.

Cebu Air Inc. reported a steep loss of P22.2 billion last year due to the 78-percent decline in passengers as the number of its flights was reduced to a minimum.

The company renegotiated aircraft deliveries to manage capacity and minimize its monthly cash burn.

It also reconfigured an A330 aircraft to become a freighter to maximize cargo revenues.

Food group Universal Robina Corp. reported a 10-percent income last year to P10.7 billion from last year’s P10.11 billion, despite a 1-percent fall in revenues to P133.1 billion.

Property developer Robinsons Land Corp.’s income plunged 39 percent to P5.3 billion from last year’s P8.69 billion, as its malls and hotels were closed during the strictest lockdown period, while the pace of the recovery of foot traffic in its establishments has been slow.

JG Summit Petrochemicals Group also reported a net loss of P2 billion

last year from P1 billion in 2019, when it reversed an impairment loss amounting to P2.3 billion.

Full-year revenues reached P21.3 billion, down by 27 percent from the previous year. The company was able to continue with its manufacturing operations and perform its delivery commitments upon the restart of its integrated cracker and polymer operations in early March 2020.

As demand started to recover in the second half of the year with domestic customers restarting operations and with more countries reopening from lockdowns, polymer sales volumes increased by 14 percent year-on-year and the company gained market share as it capitalized on resilient demand for packaging of essential goods and agricultural requirements.

The company is nearing the final stages of its $1.1-billion expansion project with some of its key components coming online in the second quarter of 2021. This would improve overall profitability as the company starts to capture more margins with its new downstream products, the company said.

SNAP reviewing Alimit hydro project

By Lenie Lectura @llectura

S

N Aboitiz Power Group (SNAP)—the joint venture of SN Power of Norway and Aboitiz Power Corp.—is re-assessing its hydro project following challenges encountered in permitting process and grid interconnection.

“Actually, we’ve held back on Alimit given we have issues with the permitting,” said Aboitiz Power president Emmanuel Rubio, who was referring to the 390-megawatt (MW) Alimit Hydropower Complex.

Rubio also cited technical issues that affect the project’s viability. “We’re also reevaluating the route for the line. We have an SIS [System Impact Study], there were suggestions by NGCP on where to connect and it requires certain reconductoring of Magat-Santiago line. So with

that, we said maybe it’s time to reevaluate our position with Alimit.”

The project has not been cancelled, Rubio clarified. He only meant that it should be thoroughly reviewed to address the concerns. “That’s where it is. We have not stopped. That’s the official word. We are actually reevaluating given the situation that we have some permitting issues and the connection point that we have to finalize with the NGCP.” Once these issues are resolved, Rubio said the Alimit project would help alleviate flooding in Northern Luzon because it can trap certain amounts of water. “It will not prevent flooding, but at least it would help alleviate flooding and that’s the new track we’re evaluating with the government.”

In 2019, SNAP President and CEO Joseph Yu said the company’s board had directed to lower

the capital expenditure (capex) of the project by as much as 20 percent.

A framework agreement for the Alimit project was already signed with the municipal government of Lamut, the last of the four local government units to approve Ifugao’s first large-scale hydropower facility. Other municipalities are Aguinaldo, Lagawe and Mayoyao.

The complex encompasses four ancestral domains in the municipalities of Aguinaldo, Lagawe, Lamut and Mayoyao, with 81 host barangays under these domains.

The Alimit project consists of the 20-MW Ollilicon, the 120-MW Alimit hydroelectric power plants and the 250-MW Alimit Pumped Storage.

The project aims to combine the waters of the Alimit River and Ibulao River to generate electricity. To supply power to the grid, it requires a 42-km 230 KV transmission line.

Ayala vows to appoint more women execs

A

yala Corp. President and COO Fernando Zobel de Ayala said he would continue to promote gender diversity from the staff to the board level of the company, promising to continue increasing the number of women from entrylevel to senior leadership positions.

Zobel said during his keynote address at the “#ChooseToChallenge: Inclusive Leadership in Times of Crisis” webinar hosted by Male Champions of Change, the company already set a board diversity policy, to evolve its membership towards greater diversity and improved representation.

“Advancing workplace gender equality, and the other dimensions of diversity in all our companies is a priority area moving forward,” Zobel said.

“We plan to align our diversity programs with best-in-class global

standards, while working with peers to make diversity and inclusion as the norm in Philippine business.”

Across the Ayala group, based on 2014 to 2019 records, female employees dominate male employees by an average of 31 percent. At the top management level, 44 percent of senior leaders are women.

Globe Telecom Inc., the company’s telecommunications arm, recently announced the appointment of Issa Guevarra-Cabreira as the company’s first female deputy chief commercial officer. Mynt, Ayala’s digital financial services company that grew very significantly at the onslaught of the pandemic, is also headed by a female executive, Martha Sazon.

Ayala Land Inc., meanwhile, is among the founding members of the Philippine Business Coalition for Women Empowerment. Its

construction arm, Makati Development Corp., has a strong pool of female executives and skilled workers, a deviation from the traditionally male-dominated construction industry.

“Diversity is a means to a better end. But there’s still a lot of stereotyping like men are supposed to be the breadwinners and women are supposed to stay at home. I think there should be a whole re-education campaign on the benefits of gender equality, diversity and inclusion” Ayala’s Chief Human Resources Officer John Philip Orbeta, who was a panelist at the event, said.

Orbeta said the Ayala Group, which is committed to the United Nation’s Sustainable Development Goals, will continue to champion equality and inclusion in gender, age, or cultural background. VG Cabuag

important financial and commercial terms that were discussed during several preliminary meetings between the panel and MWCI. Once the agreement is signed, the panel will proceed with the negotiation for the revision of the government’s concession agreement with Maynilad.

The signing of the new agreement was in line with President Duterte’s directive for the the DOJ to review the water concession agreements after discovering onerous provisions in the existing contracts, and after the Permanent Court of Arbitration in Singapore issued a decision stating the Phil-

ippine government should pay P7.4 billion to Manila Water and P3.4 billion to Maynilad for the losses they suffered from unenforced water rate hike.

Duterte also threatened to file economic sabotage against the two water firms due to the “onerous” 1997 contracts with the government.

Guevarra earlier said among the provisions in the existing concession agreements that would have to go are the non-interference in the rate-setting mechanism of the two water firms and the MWSS and its twin provisions on indemnification arising from such government interference.

LinkedIn: Skills are the new currency in the world of work

By Cai U. Ordinario @caiordinario

M

illions of Filipinos looking for better or new employment have been offered a piece of advice by LinkedIn: Skills matter.

In a statement, LinkedIn said 77 percent of hiring managers and recruiters in the Asia and the Pacific region made skills and competencies the focus of job descriptions at least once in the last year.

Due to this, LinkedIn said it was estimated that people worldwide devoted 43 million hours to acquiring a new skill last year.

“More and more, we are seeing skills becoming the new currency in our world of work.

We’ve seen people worldwide express a desire to learn and build their skills. Organizations, too, are hiring based on skills instead of traditional qualifications,” Olivier Legrand, LinkedIn Managing Director and Vice-President, Asia Pacific and China, said.

Responding to this challenge in the Philippines should include efforts to improve the Technical Education and Skills Development Authority (TESDA) Technical and Vocational Education and Training (TVET).

In a study, Philippine Institute and Development Studies Fellow Aniceto C. Orbeta, Jr. and Supervising Research Specialist John Paul P. Corpus said the government needs to review the content of the TVET curricula such as the inclusion of communication skills and workplace discipline.

The training extended by TESDA should also become more flexible and should adopt online delivery and asynchronous modalities. This requires

investing in both infrastructure and trainers who are adept in teaching using these modalities.

Orbeta and Corpus said this revamp in the curricula and adoption of new teaching modalities should be accompanied by the recruitment of industry practitioners to become trainers and assessors. This will expose TVET students to industry practices.

“There is a perception that trainers and assessors tend to not be updated with current industry practices. It would be advisable to tap industry practitioners as trainers and assessors (i.e., to become National TVET Trainer Certificate holders) and promote continuous exposure of current trainers and assessors to industry practices,” they said.

For their part, Microsoft and LinkedIn committed to help 25 million people build digital skills for in-demand jobs through various initiatives and helped over 30 million people globally get reskilled for these jobs.

The two companies will also be offering courses and low-cost certifications that align with 10 of the most in-demand jobs through December 31.

They will also provide new resources from LinkedIn, GitHub, and Microsoft to help everyone—students, jobseekers, members, employers—move to a skills-based future.

“LinkedIn, together with Microsoft, is committed to helping everyone shift towards a skills-based economy. In 2021, we will continue our efforts to equip job seekers with the right resources to pick up new skills and connect them to opportunities, as well as aim to help 250,000 organizations make a skills-first hire,” Legrand said.

Nestlé Philippines: Accelerating gender balance in the workplace

I

n celebration of International Women’s Month, Nestlé Philippines recently held a series of online fora for its employees and external stakeholders tackling issues, challenges, and approaches in fostering diversity and inclusion in the workplace.

This year’s theme for the celebration is #ChoosetoChallenge, a call to action for all people to step up and challenge gender bias and inequality.

“At Nestlé Philippines which has been present in the country for 110 years, building diversity and inclusion in the workplace where everyone can thrive is a top priority. The pursuit of gender balance is key to Nestlé’s approach for accelerating diversity and nurturing inclusivity in our workforce,” said Chairman and CEO Kais Marzouki.

Marzouki shared a number of the company’s milestones towards achieving gender balance: Balance in Leadership Roles—Nestlé Philippines has attained a 50-50 gender balance for management positions, strengthening the representation of women in leadership roles. As for senior positions, 47 percent (vice presidents and upwards) are held by women.

Globally, Nestlé’s vision is to increase the representation of women in its top 200 senior executive positions through the Nestlé Gender Balance Acceleration Plan. Since its launch, the plan has driven a 25% increase in women for top senior executive positions.

Equal Pay—Nestlé has pledged to accelerate equal pay globally, which means that women and men are rewarded equally or similarly for performing the same work. Since 2019, monitoring for

In photo is KJ Aguinaga, recently appointed as the first female factory manager at Nestlé in the Philippines. Contributed Photo

equal pay at Nestlé Philippines shows that in the last two years there have been no significant gender pay gaps at all levels in the workforce. Proactive prevention measures of total rewards review systems and talent management are in place to maintain equal pay across all levels in all roles.

Parental Support Policy—Women are empowered to excel in every role they play. The Nestlé Philippines Parental Support Policy was launched in February 2020 as a gender-neutral policy in response to evolving parental roles.

Through this policy, fully paid leave for the primary caregiver is extended from 15 weeks to 18 weeks, while fully paid leave for the secondary caregiver is extended from 9 days to 4 weeks. The company uses the terms primary and secondary caregivers to signify support for all forms of family set-ups: biological or adoptive, including same-sex, and single parents, and legal guardians.

Balance in Candidate Sourcing—In sourcing talents, balanced representation is maintained regardless of role, by ensuring there is at least one female candidate in the pipeline.

B2

Companies BusinessMirror

Thursday-Sunday, April 1-4, 2021

PSE STOCK QUOTATIONS

March 31, 2021

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

ASIA UNITED BDO UNIBANK BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PB BANK PBCOM PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FIRST ABACUS FERRONOUX HLDG IREMIT MEDCO HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH

41.7 102 81.5 23.05 9.68 44.4 10.5 22.05 22.65 55.9 16.94 120.1 69.5 1.57 3.94 0.59 3.01 1.38 0.38 950 0.72 141.6

43 102.5 82 23.1 9.7 44.65 11 22.8 22.7 56.1 17.5 121 69.6 1.6 3.95 0.62 3.22 1.51 0.4 995 0.77 142.8

41.6 103.6 84.1 23.1 9.78 45.3 10.4 22.8 22.7 56.15 16.94 122 69.5 1.63 3.94 0.62 3.18 1.51 0.37 970 0.77 143.8

43.3 103.8 84.1 23.1 9.78 46.05 11 22.8 23 56.2 16.96 122 69.6 1.63 3.96 0.62 3.28 1.51 0.4 970 0.77 143.8

41.6 101.6 81.5 23 9.68 44.4 10.4 22.8 22.65 56 16.8 119.5 69.5 1.56 3.91 0.62 3.18 1.51 0.37 950 0.72 141

43.3 102 81.5 23.05 9.7 44.4 10.98 22.8 22.65 56.15 16.82 121 69.6 1.6 3.95 0.62 3.28 1.51 0.4 970 0.72 142.8

800 33,890 4,048,270 414,458,292 2,722,550 222,921,766.50 53,700 1,237,370 184,600 1,793,16 6,592,500 294,949,270 211,300 2,280,004 200 4,560 380,500 8,647,175 1,060 59,517.50 42,800 724,658 293,150 35,353,486 1,420 98,767 243,000 386,210 614,000 2,421,260 156,000 96,720 2,000 6,460 425,000 641,750 140,000 54,550 30 28,900 50,000 37,350 4,410 625,721

INDUSTRIAL

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

6.94 1.24 23.5 0.86 29.85 69.8 272 16.08 3.05 3.7 11.16 20.45 10.42 13.76 7 3.46 12.92 18.2 9.14 7.07 10.18 59.05 0.61 1.4 50.8 176.9 32.2 7.23 5.79 0.335 7 1.01 1.4 0.139 132.3 0.82 2.25 55.2 58 1.13 2.82 10.9 7.26 5.65 6.3 12.22 1.15 2.03 151 1.85 2.08 4.56 5.18 20.8 3.73 10.4 1.09 5.62 1.28 6.27

6.95 1.27 23.75 0.87 30.1 71 273.4 16.1 3.06 3.8 11.28 20.5 10.46 14.46 7.08 3.48 13.5 18.48 9.16 7.1 10.2 59.85 0.64 1.43 50.95 177.7 32.8 7.85 5.89 0.34 7.08 1.03 1.46 0.14 133 0.83 2.3 57.05 62.95 1.14 2.85 11 7.48 5.7 6.35 12.28 1.17 2.05 192.9 1.86 2.1 4.58 5.5 21 3.75 10.54 1.11 5.89 1.3 6.28

6.95 1.25 23.85 0.87 29.65 71 276.2 16 3.07 3.7 11.4 20.3 10.46 14.88 6.95 3.5 13.3 17.9 9.17 7.25 10.32 60.5 0.61 1.41 50.25 176.9 32 7.87 5.71 0.305 7.06 1.03 1.43 0.138 134.5 0.83 2.25 55 65 1.14 2.9 11 7.41 5.6 6.4 12.26 1.17 2.05 151 1.95 2.12 4.49 5.18 21.2 3.8 10.44 1.1 5.94 1.28 6.25

7 1.26 24 0.91 30.1 71 277 16.2 3.07 3.7 11.48 20.5 10.5 14.88 7.1 3.52 13.6 18.48 9.17 7.29 10.32 60.5 0.64 1.43 51.4 178.1 33 7.87 5.9 0.36 7.08 1.03 1.43 0.142 134.8 0.84 2.25 65 75 1.16 2.94 11.2 7.6 5.74 6.4 12.28 1.17 2.07 151 1.95 2.33 4.58 5.18 21.2 3.84 10.6 1.11 5.95 1.3 6.35

6.9 1.24 23.5 0.85 29.65 69.7 272 15.9 3.03 3.7 11.06 20.3 10.4 13.76 6.92 3.46 13.3 17.84 9.1 7.02 10.08 58.75 0.61 1.37 50.25 176 32 7.16 5.71 0.3 7 1.01 1.43 0.138 131.1 0.81 2.25 55 58 1.12 2.76 10.9 7.15 5.5 6.26 12.22 1.14 2.03 151 1.86 2.07 4.49 5.18 20.8 3.69 10.32 1.09 5.94 1.28 6.2

6.94 1.24 23.5 0.86 30.1 69.8 272 16.08 3.06 3.7 11.28 20.5 10.46 14.46 7.09 3.48 13.5 18.48 9.14 7.07 10.2 59.05 0.64 1.43 50.95 176.9 32.8 7.85 5.78 0.335 7.08 1.03 1.43 0.14 133 0.82 2.25 55.2 63.75 1.14 2.82 10.9 7.26 5.7 6.35 12.28 1.17 2.03 151 1.86 2.1 4.58 5.18 20.8 3.75 10.54 1.11 5.94 1.3 6.27

7,368,400 903,000 2,584,800 116,978,000 373,300 44,490 250,040 4,504,500 576,000 3,000 95,500 552,400 156,100 3,600 534,500 3,297,000 5,400 2,352,900 42,800 1,729,900 442,700 49,820 186,000 6,353,000 91,380 424,690 400 3,200 143,200 36,180,000 15,700 2,515,000 2,000 15,970,000 1,437,790 1,396,000 50,000 4,670 9,100 2,542,000 3,361,000 60,500 86,700 249,400 297,200 66,100 350,000 2,885,000 100 1,446,000 2,190,000 15,000 2,100 7,300 16,657,000 443,300 72,000 15,000 84,000 2,656,200

-226,421,332 -146,675,410.50 -586,200 2 (856,806) -174,960,235 1,546,808 -3,215,525 -22,022 -21,437,080 34,104.00 1,630 -1,644,050 9,500 -15,840 482,862

51,218,533 1,125,760 60,880,645 103,811,920 11,206,795 3,115,908.50 68,620,006 72,484,932 1,757,650 11,100 1,081,932 11,287,500 1,626,260 50,644 3,722,585 11,504,900 72,796 43,080,608 390,528 12,322,830 4,511,720 2,946,405.50 116,110 8,892,220 4,665,192 75,156,564 13,060 24,887 825,598 12,301,300 110,684 2,559,570 2,860 2,243,790 190,887,613 1,145,900 112,500 264,302.50 577,770.50 2,891,500 9,506,230 664,780 628,392 1,410,591 1,881,573 810,164 402,480 5,908,800 15,100 2,708,880 4,825,620 67,620 10,878 152,960 62,793,530 4,625,452 79,330 89,200 108,400 16,603,613

1,469,475 -185,660 -23,002,430 39,490 1,590,650 -1,573,823 -5,578,098 -3,692,346 112,500 3,816,460 93,600 -30,394 -4,154,920 67,476 8,054,762.00 13,680.00 -5,532,820 -795,924 -1,721,226.50 110,400 2,042,030.50 4,889,110 -630,442 -1,109,100 105,880 -19,880 -38,109,533 -830 -1,242,520.00 87,010 21,800 -10,127 -166,929 -57,096 -457,560 -34,600 -625,120 280,950 51,500.00 -972,910 -793,914 -290,890.00

HOLDING & FRIMS ABACORE CAPITAL 1.12 1.13 1.17 1.18 1.1 1.12 22,587,000 25,586,230 ASIABEST GROUP 6.95 7.28 7.29 7.29 7.28 7.28 900 6,553 AYALA CORP 738.5 740 752 755 738 740 236,180 174,870,665 ABOITIZ EQUITY 34.5 34.9 36 36 34.5 34.5 3,036,800 105,888,205 ALLIANCE GLOBAL 10.58 10.64 10.7 10.7 10.54 10.64 819,000 8,706,508 AYALA LAND LOG 3.05 3.06 2.95 3.09 2.92 3.06 2,438,000 7,346,680 ANSCOR 6.42 6.54 6.42 6.54 6.41 6.54 5,100 32,744 ANGLO PHIL HLDG 0.67 0.69 0.65 0.69 0.65 0.68 2,606,000 1,755,740 ATN HLDG A 0.74 0.75 0.76 0.76 0.74 0.75 1,715,000 1,280,490 ATN HLDG B 0.75 0.78 0.74 0.8 0.74 0.75 265,000 197,660 COSCO CAPITAL 5.14 5.15 5.2 5.2 5.14 5.15 797,200 4,109,933 DMCI HLDG 5.55 5.57 5.69 5.75 5.4 5.55 21,155,800 117,518,718 FILINVEST DEV 8.1 8.67 8.12 8.67 8.08 8.67 23,400 189,725 FORUM PACIFIC 0.245 0.25 0.25 0.25 0.238 0.25 600,000 148,800 GT CAPITAL 522 528 533.5 533.5 522 522 94,440 49,539,620 HOUSE OF INV 3.52 3.64 3.64 3.64 3.64 3.64 1,000 3,640 JG SUMMIT 59.2 59.75 60.9 61.15 58.85 59.75 2,128,690 126,881,658.50 KEPPEL HLDG A 4.68 4.98 4.76 4.76 4.76 4.76 4,000 19,040 LODESTAR 1.01 1.02 1.02 1.05 1.01 1.01 4,302,000 4,413,290 LOPEZ HLDG 3.33 3.36 3.35 3.38 3.33 3.33 287,000 959,800 LT GROUP 13.5 13.52 13.5 13.62 13.3 13.5 1,576,900 21,234,600 MABUHAY HLDG 0.47 0.49 0.47 0.48 0.47 0.47 750,000 352,700 METRO PAC INV 3.74 3.76 3.79 3.79 3.74 3.74 18,352,000 68,845,330 PACIFICA HLDG 3.5 3.69 3.52 3.53 3.52 3.53 10,000 35,280 PRIME MEDIA 2.58 2.59 2.6 2.71 2.51 2.59 4,463,000 11,621,260 REPUBLIC GLASS 2.5 2.78 2.5 2.5 2.5 2.5 3,000 7,500 SOLID GROUP 1.23 1.25 1.25 1.25 1.25 1.25 85,000 106,250 SYNERGY GRID 331 345 340 345 333 345 170 57,410 SM INVESTMENTS 960 970 972 972 960 960 405,350 390,224,595 SAN MIGUEL CORP 118.9 119 119.9 119.9 119 119 103,220 12,296,200 SOC RESOURCES 0.7 0.71 0.7 0.71 0.68 0.7 133,000 93,250 TOP FRONTIER 134.8 139.9 133.7 139.9 133.7 139.9 3,880 540,580 WELLEX INDUS 0.245 0.26 0.255 0.26 0.245 0.245 210,000 53,040 ZEUS HLDG 0.197 0.206 0.197 0.209 0.197 0.197 630,000 127,510

517,900.00 -37,056,460 -40,198,390 -2,591,736 2,986,600 25,670 10,560 112,500 -3,070,436 -28,390,005 -155,650.00 -6,729,835 -46,548,621.50 41,200 -297,900 470,748 -1,012,330 -35,050 -122,714,450 -3,520,051 -48,132.00 -

PROPERTY ARTHALAND CORP 0.62 0.64 0.63 0.64 0.63 0.63 505,000 322,850 ANCHOR LAND 7.51 8.49 8.5 8.5 8.49 8.49 800 6,798 AYALA LAND 34.35 34.55 35.5 35.6 34.35 34.35 14,151,100 489,359,085 ARANETA PROP 1.2 1.26 1.2 1.2 1.2 1.2 5,000 6,000 AREIT RT 34 34.1 33.8 34.3 33.8 34 690,700 23,563,170 BELLE CORP 1.47 1.5 1.47 1.51 1.47 1.47 741,000 1,096,450 A BROWN 0.87 0.88 0.86 0.88 0.86 0.88 340,000 294,750 CITYLAND DEVT 0.93 0.95 0.91 1.02 0.86 0.95 13,185,000 12,679,360 CEBU HLDG 6.4 6.8 6.4 6.4 6.4 6.4 53,900 344,960 CEB LANDMASTERS 5.88 5.9 5.81 5.92 5.8 5.9 1,661,300 9,726,423 CENTURY PROP 0.38 0.385 0.38 0.385 0.375 0.38 5,890,000 2,232,800 CYBER BAY 0.315 0.33 0.33 0.33 0.315 0.33 1,400,000 460,250 DOUBLEDRAGON 13.1 13.2 13.14 13.22 13.02 13.2 728,400 9,584,658 DDMP RT 2.15 2.16 2.15 2.17 2.11 2.15 76,441,000 163,911,190 DM WENCESLAO 6.9 6.91 6.92 6.92 6.9 6.9 13,400 92,590 EMPIRE EAST 0.275 0.28 0.28 0.28 0.275 0.28 290,000 80,250 EVER GOTESCO 0.097 0.102 0.103 0.105 0.096 0.097 4,780,000 475,270 FILINVEST LAND 1.1 1.11 1.11 1.12 1.1 1.1 6,095,000 6,712,660 GLOBAL ESTATE 0.81 0.82 0.82 0.82 0.81 0.81 393,000 319,580 8990 HLDG 7.07 7.59 7.12 7.65 7 7.07 75,500 552,085 PHIL INFRADEV 1.35 1.38 1.4 1.4 1.35 1.35 709,000 965,990 KEPPEL PROP 2.7 3 2.97 2.97 2.93 2.93 7,000 20,710 CITY AND LAND 2.24 2.25 1.67 2.34 1.67 2.25 47,777,000 98,609,190 MEGAWORLD 3.58 3.59 3.67 3.67 3.56 3.58 15,462,000 55,407,520 MRC ALLIED 0.385 0.39 0.42 0.435 0.385 0.385 151,650,000 62,172,500 PHIL ESTATES 0.62 0.63 0.55 0.71 0.52 0.63 232,794,000 151,554,820 PRIMEX CORP 2.1 2.11 2.22 2.25 2.05 2.1 12,629,000 27,149,500 ROBINSONS LAND 17.78 17.88 17.88 17.96 17.7 17.88 554,100 9,890,414 PHIL REALTY 0.255 0.265 0.25 0.265 0.25 0.265 110,000 28,250 ROCKWELL 1.57 1.6 1.58 1.63 1.51 1.57 2,254,000 3,584,600 SHANG PROP 2.72 2.73 2.72 2.72 2.7 2.72 104,000 281,990 STA LUCIA LAND 2.21 2.31 2.33 2.33 2.22 2.31 364,000 814,620 SM PRIME HLDG 35 35.05 35.45 35.75 35 35 7,659,700 268,754,070 VISTAMALLS 3.75 3.8 3.8 3.8 3.8 3.8 4,000 15,200 SUNTRUST HOME 1.49 1.5 1.48 1.53 1.46 1.49 1,481,000 2,182,590 VISTA LAND 3.74 3.75 3.8 3.8 3.73 3.74 520,000 1,947,780

21,420 -191,680,615 -4,772,850.00 -4,420 -10,560 -452,820 86,073 45,500 -433,198 -15,995,020 -80,250 -4,049,390 7,070 -13,800 62,150 -26,475,000 -89,700 -206,450.00 2,797,030 -5,082,166 -886,920 8,160 445,000 -99,157,730 197,930 -587,560

SERVICES ABS CBN 10.88 10.9 11.26 11.26 10.86 10.9 400,600 4,385,852 GMA NETWORK 8.7 8.71 8.69 8.85 8.63 8.7 6,037,500 52,619,690 MLA BRDCASTING 9.82 11.5 11.48 11.48 11.48 11.48 4,600 52,808 GLOBE TELECOM 1,880 1,894 1,929 1,929 1,880 1,880 62,840 118,968,695 PLDT 1,221 1,245 1,268 1,268 1,221 1,221 152,710 188,089,485 APOLLO GLOBAL 0.197 0.198 0.195 0.2 0.194 0.197 232,120,000 45,692,360 CONVERGE 18.68 18.7 19.12 19.12 18.7 18.7 7,003,300 131,545,302 DFNN INC 3.65 3.74 3.63 3.74 3.61 3.65 182,000 662,230 DITO CME HLDG 10.14 10.16 10.18 10.22 10.06 10.16 8,736,100 88,511,872 IMPERIAL 1.65 1.79 1.7 1.7 1.7 1.7 7,000 11,900 JACKSTONES 1.98 2.05 1.95 2.08 1.95 2.08 71,000 142,790 NOW CORP 2.63 2.67 2.66 2.71 2.6 2.67 1,123,000 2,965,170 TRANSPACIFIC BR 0.425 0.43 0.425 0.44 0.42 0.425 18,750,000 7,916,850 PHILWEB 2.81 2.85 2.88 2.88 2.78 2.85 825,000 2,318,370 2GO GROUP 8.42 8.5 8.5 8.5 8.4 8.5 40,500 342,194 ASIAN TERMINALS 15.16 15.5 15.5 15.5 15.5 15.5 200 3,100 CHELSEA 3.19 3.25 3.22 3.28 3.17 3.28 831,000 2,655,390 CEBU AIR 45.05 45.1 45.1 45.1 44.6 45.05 329,900 14,802,840 INTL CONTAINER 121 121.9 121.4 122.1 121 121 2,826,970 342,633,982 LORENZO SHIPPNG 0.95 1.05 1.07 1.07 0.97 1.06 9,000 8,920 MACROASIA 4.91 4.92 4.8 4.96 4.76 4.92 1,097,000 5,387,360 METROALLIANCE A 2.53 2.57 2.4 2.57 2.4 2.53 805,000 2,018,300 PAL HLDG 6.1 6.2 6.15 6.2 6.01 6.2 6,800 41,807 HARBOR STAR 1.15 1.16 1.16 1.16 1.13 1.15 180,000 206,470 ACESITE HOTEL 1.62 1.67 1.52 1.74 1.52 1.67 400,000 662,030 BOULEVARD HLDG 0.081 0.083 0.084 0.084 0.08 0.083 144,190,000 11,780,200 DISCOVERY WORLD 3.95 3.97 4.16 4.16 3.9 3.95 582,000 2,288,880 WATERFRONT 0.58 0.59 0.59 0.61 0.56 0.59 28,318,000 16,630,180 CENTRO ESCOLAR 6.61 7.33 6.61 6.61 6.61 6.61 200 1,322 IPEOPLE 6.69 7.85 7.89 7.89 6.69 6.69 11,200 85,442 STI HLDG 0.38 0.385 0.385 0.39 0.38 0.38 780,000 299,150 BERJAYA 4.42 4.6 4.6 4.6 4.6 4.6 1,000 4,600 BLOOMBERRY 6.85 6.96 6.8 6.96 6.8 6.96 1,964,400 13,533,647 PACIFIC ONLINE 2.04 2.08 2.06 2.1 2.03 2.04 249,000 510,330 LEISURE AND RES 1.81 1.85 1.82 1.87 1.8 1.85 3,698,000 6,661,210 PH RESORTS GRP 2.07 2.08 2.02 2.12 2.01 2.08 3,854,000 8,036,210 PREMIUM LEISURE 0.385 0.39 0.39 0.39 0.385 0.385 1,110,000 428,300 PHIL RACING 6.1 6.5 6.1 6.6 6.1 6.5 2,800 17,730 ALLHOME 7.73 8 7.7 8 7.7 8 42,200 334,609 METRO RETAIL 1.33 1.35 1.37 1.37 1.33 1.35 572,000 769,280 PUREGOLD 39.3 39.4 40.4 40.5 39 39.3 4,740,100 188,371,755 ROBINSONS RTL 56.25 57.25 57 57.75 56.05 57.25 265,590 15,139,178 PHIL SEVEN CORP 91.5 92 92 92 91.5 92 62,670 5,765,390 SSI GROUP 1.2 1.21 1.22 1.23 1.2 1.21 657,000 792,630 WILCON DEPOT 17.18 17.8 17.46 17.8 17.08 17.8 1,542,900 27,192,176 APC GROUP 0.4 0.405 0.39 0.4 0.39 0.4 330,000 131,300 EASYCALL 6.32 6.5 6.6 6.6 6.32 6.32 204,700 1,315,006 GOLDEN MV 447 448.2 449 449 449 449 20 8,980 PRMIERE HORIZON 2.06 2.07 2.08 2.08 2.03 2.06 16,555,000 34,031,530

-77,418,400 -114,567,810 -247,450 -4,054,250 -372,470 -1,946,700.00 -179,090 303,400 -33,600 -153,600 9,764,650 -118,075,751 890,500 -4,305 -51,250.00 603,310 -1,870.00 -439,731 20,600 -29,620 88,950.00 -3,850 1,550 -183,550 -45,429,040 5,416,835.50 -79,140 24,600 572,842 13,675 653,150.00

MINING & OIL ATOK 9.12 9.2 9 9.5 8.79 9.12 2,013,800 18,304,584 -25,480 APEX MINING 1.41 1.43 1.42 1.43 1.41 1.41 441,000 626,890 38,560 ATLAS MINING 6.29 6.3 6.29 6.53 6.29 6.29 178,000 1,138,028 26,710 BENGUET A 2.35 2.72 2.55 2.72 2.55 2.72 5,000 12,920 COAL ASIA HLDG 0.28 0.295 0.285 0.285 0.28 0.28 120,000 34,150 CENTURY PEAK 2.75 2.8 2.7 2.8 2.7 2.8 222,000 605,400 586,350 DIZON MINES 8.8 9.49 9.16 9.49 8.6 9.49 27,100 233,882 FERRONICKEL 2.41 2.42 2.48 2.48 2.38 2.41 2,046,000 4,927,910 -937,400 GEOGRACE 0.315 0.325 0.325 0.33 0.31 0.325 880,000 280,000 3,200 LEPANTO A 0.13 0.132 0.133 0.133 0.129 0.132 8,890,000 1,161,330 LEPANTO B 0.131 0.139 0.139 0.139 0.139 0.139 80,000 11,120 11,120 MANILA MINING A 0.0096 0.0097 0.0097 0.0098 0.0097 0.0097 23,000,000 223,200 MANILA MINING B 0.0097 0.0099 0.0099 0.0099 0.0099 0.0099 2,000,000 19,800 19,800 MARCVENTURES 1.21 1.22 1.25 1.25 1.18 1.21 852,000 1,017,010 -18,050 NIHAO 2.19 2.24 2.29 2.29 2.18 2.24 55,000 121,680 NICKEL ASIA 5.09 5.1 5.19 5.23 5.06 5.1 898,600 4,601,053 118,511 OMICO CORP 0.405 0.42 0.435 0.44 0.42 0.42 110,000 46,850 ORNTL PENINSULA 0.83 0.85 0.86 0.86 0.83 0.85 248,000 206,750 PX MINING 4.55 4.6 4.8 4.8 4.54 4.55 177,000 811,560 26,460 SEMIRARA MINING 13.52 13.6 13.66 13.66 13.48 13.6 1,836,500 24,905,174 -2,497,474 UNITED PARAGON 0.0074 0.0075 0.0075 0.0078 0.0074 0.0075 96,000,000 734,100 ACE ENEXOR 22.6 22.85 23.1 23.1 22.2 22.85 217,600 4,962,100 120,630 ORNTL PETROL A 0.012 0.013 0.013 0.013 0.012 0.012 135,100,000 1,651,300 ORNTL PETROL B 0.012 0.013 0.012 0.013 0.012 0.013 1,600,000 19,300 PHILODRILL 0.011 0.012 0.012 0.013 0.011 0.011 113,500,000 1,311,100 PXP ENERGY 8.56 8.57 8.59 8.68 8.56 8.56 118,700 1,019,690 -338,506

PREFFERED HOUSE PREF B 100.4 101 100.9 100.9 100.9 100.9 500 50,450 HOUSE PREF A 100 101 101 101 101 101 170 17,170 AC PREF B1 524 534 530 534 530 534 52,730 27,956,195 ALCO PREF B 100.6 102.5 102 102 100.6 100.6 360 36,468 AC PREF B2R 526 530 531 531 527 530 26,820 14,214,490 CEB PREF 40.6 40.7 40.6 41 40.2 40.7 88,300 3,591,265 93,040 CPG PREF A 101.1 102.5 102.5 102.5 101.1 102.5 960 98,386 DD PREF 100.6 102.5 102.5 102.5 102.5 102.5 10 1,025 GLO PREF P 502 504 503.5 503.5 503.5 503.5 3,000 1,510,500 GTCAP PREF B 1,030 1,041 1,030 1,030 1,030 1,030 1,000 1,030,000 MWIDE PREF 99.9 100 100 100 99.9 99.9 15,000 1,499,719 MWIDE PREF 2A 100 101 100 100 100 100 100 10,000 10,000 MWIDE PREF 2B 100 101 101 101 100 101 1,740 175,440 PNX PREF 3B 100.4 104 101 104 100.2 104 55,040 5,551,951 10,400 PNX PREF 4 987.5 990 990 990 987.5 987.5 1,280 1,267,050 PCOR PREF 2B 1,000 1,030 1,000 1,030 1,000 1,030 145 146,350 PCOR PREF 3A 1,100 1,119 1,115 1,115 1,115 1,115 830 925,450 PCOR PREF 3B 1,124 1,150 1,130 1,130 1,130 1,130 100 113,000 SFI PREF 1.66 1.89 1.75 1.75 1.75 1.75 1,000 1,750 SMC PREF 2C 77.8 79.5 77.8 77.8 77.75 77.8 123,130 9,579,114 SMC PREF 2E 76 77.8 75.9 77 75.9 77 61,120 4,643,540 SMC PREF 2F 78.4 78.95 78.95 79 78.95 78.95 112,400 8,874,450 SMC PREF 2H 76.5 77.95 78 78 76.45 76.45 46,900 3,626,330 SMC PREF 2I 78.5 78.9 78.9 78.9 78.9 78.9 10 789 SMC PREF 2K 75.7 76 75.65 76 75.65 76 1,740 131,890 -

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 10.34 10.96 10.5 10.5 10.34 10.34 222,800 2,329,268 -2,329,268 GMA HLDG PDR 8.34 8.35 8.36 8.39 8.3 8.34 1,200,000 10,025,489 5,589,310

WARRANTS LR WARRANT 2.01 2.02 2.02 2.25 1.96 2.01 31,953,000 67,429,450 72,740

SMALL & MEDIUM ENTERPRISES ALTUS PROP 19 19.4 19.4 19.5 18.7 19.4 97,900 1,848,356 112,732 ITALPINAS 2.45 2.48 2.42 2.49 2.39 2.48 326,000 801,260 -46,590 KEPWEALTH 5.12 5.32 5.37 5.37 5.06 5.32 30,500 157,519 MERRYMART 5.43 5.44 5.02 5.45 4.99 5.44 32,479,700 169,863,961 -5,349,809

EXHANGE TRADE FUNDS

FIRST METRO ETF 98.9 100 100.8 100.8 98.2 98.9 38,520 3,819,473 152,296

www.businessmirror.com.ph

‘IT security budget stagnant despite rise in cyber attacks’

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By Lorenz S. Marasigan

@lorenzmarasigan

yber attacks against Philippine organizations continued to rise both in “frequency and severity” last year, but it seems that decision makers continue to remain apathetic about it and choose to retain their budgets instead of increasing them for heightened cybersecurity.

This was one of the key findings of next-generation cybersecurity solutions provider Sophos in its latest survey report titled “The Future of Cybersecurity in Asia Pacific and Japan,” which showed that cyberattacks in the Philippines increased by 7 points to 31 percent in 2020 from 24 percent the year prior.

According to the report, despite the increase in cyberattacks, there is no expected increase in the median percentage of information technol-

ogy (IT) budgets that is spent on cybersecurity, which is at 10 percent today and expected to remain the same for the next 24 months.

The report noted however that 44 percent of Philippine businesses are concerned that their cybersecurity budget is currently below where it needs to be.

“Ultimately, security is about right-sizing the risk. If the risk increases, budgets should also increase.

Yet, in this climate of uncertainty,

we’ve seen organizations take a conservative approach to security spending, which is limiting their ability to stay ahead of cybercriminals,” Trevor Clarke, lead analyst and director at Tech Research Asia, said in a statement sent by Sophos.

Sophos Global Solutions Engineer Aaron Bugal noted that the top frustrations in the region “reflect boardroom indifference” as survey respondents believe that cyber threats are “overblown.”

“Our research highlights a disturbing attitude—executive teams claiming that cybersecurity incidents are exaggerated. It is confounding that this attitude prevailed even when the end of 2020 showed us just how bad a global supply-chain attack could be. If that weren’t enough, the more recent zero-day vulnerabilities in widely deployed email platforms would demonstrate the desperate need for unification in cyber resilience.

Everybody needs to play their part as we all need to understand and mitigate the risk,” he said.

The report also found that there is a gap in cybersecurity skills in the

Philippines, as nearly 45 percent of Philippine businesses “have said that lack of cybersecurity skills is challenging for their organization.”

This has resulted in 48 percent of surveyed organizations finding it hard to recruit skilled cybersecurity professionals.

The pandemic, according to the statement sent by Sophos, made companies realize the need to upgrade their strategies and tools in combating cyber threats.

“Covid-19 compelled companies to refresh their cybersecurity strategies, yet the transformational shift to remote working also exposed additional weaknesses. Businesses have transformed their workplace environments, undergone an accelerated digitization period, yet continue to confront systemic cybersecurity issues, including executive apathy, low budgets, and a lack of skilled cybersecurity professionals. Despite improvements made, progress remains slow, reinforcing our belief that cybersecurity is never ‘finished’ and requires a constant focus, both from technological and cultural viewpoints,” Clarke said.

Coca-Cola to vaccinate 10,000 workers for free

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oca-Cola Beverages Philippines Inc. (CCBPI) provides Covid-19 relief to its 10,000 employees via its free vaccination program and a P2-billion assistance fund.

The local bottling arm of beverage giant Coca-Cola said in a statement on Wednesday that its employees and their immediate family members will be receiving free Covid-19 vaccination.

The company is currently working with partners for the immediate and efficient vaccine inoculation.

“Our People-First commitment means that we are responsible for our employees and their families especially during these most challenging times,” said Gareth McGeown, President and CEO of CCBPI. “2020 really tested us as a company—tested our policies, our culture, the way we do business, and I am extremely proud to say that we came out of it stronger as one Coke family. We intend to do the same this year and the years to come.”

The vaccination program, the bottling firm said, is aimed at boosting activity and mobility, allowing the continued operations of the Coke value chain. In a way, this initiative can also contribute to job generation as every direct job means seven more indirect jobs across its value chain, CCBPI said.

Meanwhile, the P2-billion employee assistance fund is an alloca-

tion to ensure that all employees will receive their salaries amid an economic turmoil.

“Our biggest achievement is that we did not have to let anyone go because of the pandemic,” McGeown said.

The company provides comprehensive HMO (health maintenance organization) coverage for employees and dependents. This, in addition to employing strict safety and sanitation standards in all its 20 manufacturing sites, 70 distribution centers and sales offices.

Coca-cola said it offers expanded maternity and paternity leaves and extended health coverage to samesex partners. The firm also implements a solo-parent policy that allows single parents to have more work schedule flexibility.

“At Coca-Cola, all teams are working toward a unified goal of providing equal opportunities and supporting everyone to thrive and grow, especially during these times. Our people have been integral to the company’s achievements throughout our 108 years of service in the country—with them, we are able to move forward and continue to serve for a hundred more,” McGeown said.

Last February, Coca-cola announced its $63-million investment to expand its facility in Sta. Rosa, Laguna. The bottling firm spent over $90 million in investments last year. Tyrone Jasper C. Piad

Ayala Land wins Awards of Excellence at PHL Quill

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yala Land Inc. (ALI) received top communications honors at the 18th Philippine Quill Awards of the International Association of Business Communicators (IABC). These included Awards of Excellence for its ‘Ayala Land Pays it Forward’ Covid-19 Response program, its redesigned Corporate Website and its 2019 Integrated Report.

ALI’s well-coordinated Covid response effort was executed despite the challenges of the nationwide quarantines, and was successful in helping millions of Filipinos by raising funds, providing logistical support, and easing the lockdown’s impact on the most vulnerable sectors of society. Its emergency response packages and public and private sector support initiatives collectively raised a total of P7.2 billion in aid to Filipinos.

The company’s redesigned Corporate Website and its Integrated Report also received Awards of Excellence from the IABC under the Communica-

tion for the Web and Publications categories. With the theme “A commitment to enrich lives for a more progressive future”, the Ayala Land 2019 Integrated Report communicated to stakeholders the company’s dedication to sustainability by reporting tangible results that have positively impacted communities nationwide.

ALI received a total of 10 Philippine Quill Awards, including several Awards of Merit for Ayala Malls under the brand communications, customer and media relations and events categories. Among them were the ‘Ayala Malls Awaken Amazing’, ‘Stylescapes at Ayala Malls’, ‘The Witcher Premiere with Netflix’, ‘Market!

Market! 15 on 15 Anniversary’, and the ‘Ayala Malls Pasyal’ campaigns.

ALI subsidiary Avida Land also won an Award of Merit for its HOMEPOSSIBLE: Ready to Restart Campaign.

mutual funds

March 31, 2021

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 210.04 22.02% -8.56% -3.83% -7.56% ATRAM Alpha Opportunity Fund, Inc. -a 1.289 51.63% -6.73% 1.5% -1.83% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.8779 23.82% -12.71% -6.01% -8.14% Climbs Share Capital Equity Investment Fund Corp. -a 0.7405 25.27% -8.15% n.a.

-7.89% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6647 10.8% n.a. n.a. -10.37% First Metro Save and Learn Equity Fund,Inc. -a 4.5885 22.71% -6.34% -2.69% -7.14% First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.6651 15.09% -10.21% -7.85% -12.46% MBG Equity Investment Fund, Inc. -a 95.77 45.02% -5.87% n.a.

-6.05% PAMI Equity Index Fund, Inc. -a 43.127 27.13% -6.57% -2.58% -7.94% Philam Strategic Growth Fund, Inc. -a 451.8 22.97% -6.49% -3.1% -7.6% Philequity Alpha One Fund, Inc. -a,d,5 1.013 30.71% n.a. n.a.

-7.68% Philequity Dividend Yield Fund, Inc. -a 1.0966 24.32% -6.02% -2.01% -6.13% Philequity Fund, Inc. -a 32.2146 24.61% -6.22% -1.62% -7.35% Philequity MSCI Philippine Index Fund, Inc. -a 0.839 25.26% n.a. n.a.

-8.11% Philequity PSE Index Fund Inc. -a 4.4153 27.65% -6.16% -1.82% -7.85% Philippine Stock Index Fund Corp. -a 738.59 28.01% -6.05% -1.96% -7.87% Soldivo Strategic Growth Fund, Inc. -a 0.6658 23.57% -10.08% -5.52% -7.39% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.3414 22.22% -8.21% -3.34% -7.79% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8445 27.34% -6.39% -2.07% -7.98% United Fund, Inc. -a 3.1016 25.56% -5.42% -0.78% -6.55% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 99.1054 28.19% -5.84% -1.29% -7.86% Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b

$1.2494 51.19% 3.71% 8.58% 3.87% Sun Life Prosperity World Voyager Fund, Inc. -a $1.6715 50.49% 9.61% n.a.

-0.08% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.6239 15.08% -2.84% -1.5% -2.68% ATRAM Philippine Balanced Fund, Inc. -a 2.1568 17.06% -3% -0.68% -5.63% First Metro Save and Learn Balanced Fund Inc. -a 2.4969 13.77% -2.07% -1.46% -4.95% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1879 8.36% n.a. n.a. -5.39% NCM Mutual Fund of the Phils., Inc. -a 1.9008 10.88% -0.23% 0.59% -3.22% PAMI Horizon Fund, Inc. -a 3.5601 15.22% -1.68% -0.71% -6.02% Philam Fund, Inc. -a 15.9608 14.82% -1.54% -0.72% -5.76% Solidaritas Fund, Inc. -a 1.9993 14.21% -2.52% -0.49% -4.53% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.3872 14.39% -4% -1.74% -5.21% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9498 15.23% n.a. n.a.

-7.12% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.8716 20.92% n.a. n.a.

-8.18% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.856 22.16% n.a. n.a.

-8.26% Sun Life Prosperity Dynamic Fund, Inc. -a 0.8373 17.98% -4.91% -2.33% -5.68% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03808 0.74% 2.56% 1.38% -2.66% PAMI Asia Balanced Fund, Inc. -b $1.1222 28.78% 1.84% 4.99% -2.43% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.4965 36.29% 7.1% 8% -0.36% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.1775 20.14% 3.39% n.a.

-2.05% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 369.78 2.6% 3.08% 2.53% -0.35% ATRAM Corporate Bond Fund, Inc. -a 1.9075 -0.45% 0.71% 0.14% 0.38% Cocolife Fixed Income Fund, Inc. -a 3.217 2.27% 4.1% 4.52% 0.07% Ekklesia Mutual Fund Inc. -a 2.2423 0.33% 2.11% 1.49% -2.34% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4241 2.89% 3.07% 1.71% -1.19% Philam Bond Fund, Inc. -a 4.4452 2.18% 3.68% 1.66% -4.09% Philam Managed Income Fund, Inc. -a,6 1.315 4.98% 4.19% 2.59% -0.47% Philequity Peso Bond Fund, Inc. -a 3.9595 5.45% 4.4% 2.45% -1.04% Soldivo Bond Fund, Inc. -a 1.0226 6.8% 3.98% 1.84% -1.86% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1644 3.7% 4.61% 2.64% -1.3% Sun Life Prosperity GS Fund, Inc. -a 1.7269 2.01% 3.89% 1.98% -1.6% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $481.58 3.18% 2.87% 2.38% -0.47% ALFM Euro Bond Fund, Inc. -a Є219.46 2.57% 1.08% 1.18% 0.13% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.1783 2.03% 1.77% 1.22% -7.97% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0257 1.18% 1.2% 0.88% -3.38% PAMI Global Bond Fund, Inc -b $1.0538 0.45% 0.28% -0.5% -3.56% Philam Dollar Bond Fund, Inc. -a $2.4555 5.46% 3.99% 2.12% -3.16% Philequity Dollar Income Fund Inc. -a $0.0625128 5.26% 3.22% 2.21% 0.31% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.0972 0.28% 1.79% 0.88% -3.92% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 129.84 2.45% 3.2% 2.53% 0.02% First Metro Save and Learn Money Market Fund, Inc. -a 1.0498 1.56% n.a. n.a.

0.16% Sun Life Prosperity Money Market Fund, Inc. -a 1.3008 2.1% 2.91% 2.58% 0.32% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0552 1.5% 1.76% n.a.

0.27% Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 1.1916 n.a. n.a. n.a. 5.49% Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $0.98 13.95% n.a. n.a.

0% a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. d - in Net Asset Value per Unit (NAVPU).

1 - Launch date is September 28, 2019. 2 - Launch date is November 15, 2019. 3 - Adjusted due to stock dividend issuance last October 9, 2019.

4 - Renaming was approved by the SEC last October 12, 2018 (formerly, One Wealthy Nation Fund, Inc.). 5 - Launch date is December 09, 2019.

6 - Re-classified into a Bond Fund starting February 21, 2020 (Formerly a Money Market Fund). 7 - Launch date is July 6, 2020.

"While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www. pifa.com.ph to see the latest NAVPS/NAVPU."

Envoys&Expats BusinessMirror

Thursday-Sunday, April 1-4, 2021

www.businessmirror.com.ph

PHL, US mark 75 years of diplomatic relations

W

ASHINGTON, D.C.—Top diplomats from the United States and the Philippines officially launched on March 27 a bilateral campaign to celebrate the 75th anniversary of the establishment of diplomatic relations between their two countries.

The Philippines and the US established formal diplomatic relations on July 4, 1946—the same day the former gained its status as an independent and sovereign republic.

Since then, the two countries have expanded and deepened bilateral cooperation in many areas—most notably defense and security, trade and commerce, as well as culture and education.

They are also marking the 70th year of the Mutual Defense Treaty that formalized their treaty alliance, enabling close security cooperation which enhancing mutual peace and security. The Philippines is the US’s oldest treaty ally in Asia.

“Some say 75 years is indeed a long time to stay as friends, partners, and allies; but I believe this is an undeniable testament to the depth and quality of the bilateral relationship,” the Philippines’s ambassador to the US Jose Manuel G. Romualdez said during a program held at the grounds of the Philippine Embassy in the American capital. “Our ties have withstood

the test of time, and have served both our countries and peoples well.”

“As you know, I served as ambassador to the Philippines just recently, and it’s a true privilege to see first-hand the strength of the bond between our two countries,” averred US Acting Assistant Secretary of State for East Asian and Pacific Affairs Ambassador Sung Y. Kim. “It starts with the unbreakable friendship between Americans and Filipinos; of course, the robust military partnership that we have, and an equally strong economic partnership.”

Kim further remarked: “What really impressed me the most was the potential for us to develop the relationship even further, even deeper…I think that starts with the warmth, affection, and mutual respect between our two countries.”

Central to the anniversary celebration are the unbreakable bonds between the Filipino and American people who continue to strengthen bilateral relations. There are over 4

AMBASSADORS Sung Y. Kim (from left), Jose Manuel G. Romualdez and Atul Keshap US EMBASSY IN THE PHILIPPINES

million American citizens of Philippine ancestry in the US. Under normal circumstances, more than 350,000 US citizens live and travel in the Philippines at any given time, with an estimated 650,000 of them visiting the country each year.

“Certainly, what truly binds our two countries together are our peoples, and it is for them that we are celebrating this momentous occasion,” Romualdez stated. “It also provides an opportunity for the Philippines and the US to not just take stock of what we have achieved together throughout the years, but also to reaffirm our commitment to more robust ties, and to a relationship that remains relevant in a world that will continue to face new and continuing challenges.”

The launch event marked the start of a year-long commemoration

through various activities and initiatives by the Philippine Embassy and Consulates General in the US, as well as the US Embassy in the Philippines.

The latter’s Chargé d’Affaires John Law joined the celebration by video link. He pointed out that “Over these decades, our countries have accomplished so much together… Moving forward, we will accomplish even more—thanks to the friendship, cooperation and mutual support between Americans and Filipinos.”

According to the US Embassy, the official logo of the 75th anniversary celebration highlights the common colors of the Philippine and American flags that symbolize their history, as well as the sun, stars and stripes that represent hope for the future of their deep relationship.

EU, Foreign Service Institute celebrate women in diplomacy

A

GROWING number of women are at the helm of diplomacy and achieving success in the field, closing the gender gap while also moving closer toward gender equality.

The Philippines, for instance, is a remarkable example of gender-equal status in Asia with its 90 women-ambassadors, as former secretary of Foreign Affairs Delia DomingoAlbert revealed in her keynote speech at the “Women in Diplomacy” webinar on March 22.

The webinar, held in celebration of Women’s Month hosted by the European Union (EU) Delegation to the Philippines and the Foreign Service Institute (FSI), discussed the state of play in gender equality in diplomacy, as well as proposed steps to further promote women empowerment.

“I am sure...many of you have contributed your share in narrowing the gender gap,” Albert declared. “However, the greater challenge for us women in the Philippines today is the gap between [those] who have it all, and [those] who have very little, or who have none at all.”

The webinar featured speakers such as Ambassador of EU to the Philippines Luc Véron, as well as the Department of Foreign Affairs (DFA) Human Resources Management Office’s Performance and Records Management Division Acting Director/Gender and Development (GAD) Focal Point Officer Anne Salvador.

“The EU works together to realize a world where women and men, girls and boys—in all their diversity, are free to pursue their chosen path in life, have equal opportunities to thrive, and can equally participate in and lead our society,” Véron said. “We can all come in—not just in diplomacy—but in all walks of life to have the political will to address gender equality, to generate awareness about the need to ensure gender equality and gender equity, to enforce gender mainstreaming in our workplace and in our day-to-day living, to provide support to gender-friendly endeavors, and to continue the inspiration and aspirations to make this world more gender-friendly.”

B3

India bats for bilateral exchanges on agritech, fintech, intelligent financing

T

HE Indian government has proposed a bilateral exchange with the Philippines involving agricultural technology (agritech) and financial technology (fintech), believing that vital technologies revolutionizing small farms in the South Asian country can benefit Filipino farmers.

On top of initially extending $50,000 to the local corn sector, Ambassador Shambhu S. Kumaran said India can exchange technologies with the Philippines that are at the forefront of improving the way small farms operate.

“We like to invite you to a discovery of India’s agritech ecosystem. We’ll look at a bilateral workshop, so you will see this vibrancy in India,” said Kumaran at a Philippine Chamber of Agriculture and Food Inc. (PCAFI) business meeting. “And India will see the positive developments in agritech in [this country].”

The bilateral meeting is earmarked to be coorganized by PCAFI and the Indian Embassy.

It may be held “sometime later this year.”

Philip L Ong, PCAFI chairman, said this fintech venture with India may involve the organization’s own Agrifood Hub Project, which is also involved in technology that links farmers with the market.

Since its launch in July 2020, PCAFI has so far linked 37,343 farmers and 315 farmer groups, primary traders and cooperatives to markets involving 109 municipalities. It had posted through its web site agrifoodhub.com a total of 980 food and crop requirements, as well as matched these requirements with 924 sellers. Ong reported that it has so far received 56 information requests and generated 55 active buyers per month.

Data for loans

KUMARAN said the Indian government has already touched based with Finance Secretary Carlos G. Dominguez for a possible agritech and fintech exchange.

“An Indian company allows banks to use geospatial [and] satellite data to make informed lending decisions,” explained Kumaran. “[They enable] banks to cut the risk, and [also] understand where and when credit dispersal is viable. They will have constant stream of data.”

The envoy shared that because of this agritech, an e-bank has raised “half-a-billion dollars using this tool that brings about revolutionary changes.” He said that Indian fintech companies are not big, but they address critical gaps in technology.

“We offer…the possibility that the DBP (Development Bank of the Philippines) could have this tool without having to procure it,” Kumaran commented. “It will be free-ofcharge. The revenue model allows…creditors and software companies [to] benefit from using the technology.”

Currently, banks are hesitant to lend to agriculture activities as they are yet to have mitigation strategies and risk-assessment tools to determine what is viable. But the said software makes that possible.

The Indian diplomat shared that from only a few agritech startups in 2013, India had 1,000 as of 2020. These are engaged in projects such as addressing water stress and

AMBASSADOR Shambhu S. Kumaran

crop stress in farm production. They advise farmers on what crops to use.

Agri-Agra Law

THE possible replication of an Indian financing system called “Viability Gap Fund” (VGP) has also been proposed by the Philippine Maize Federation Inc. This is to finance post-harvest facilities critical to corn-production storage of farmers, according to PMFI President Roger V. Navarro.

The VGP was put up in India to fund viable projects by small and medium farmers.

Navarro said the financing may come from the fund that form penalties from the AgriAgra Law. These, he said, amount to billions coming from banks that do not allocate 10 percent or 15 percent of their loanable amount for agriculture or agrarian reform funding as mandated.

As of 2019, given the compliance of all banks, the Agri-Agra Law fund would have been P1.384 trillion, according to the Department of Agriculture.

Kumaran affirmed the need for the VGF in the country: “We should have smart public policies. Food security is an absolute nonnegotiable. We have lots of small and marginalized farmers in India. They find it hard to access common assets, so government needs to come in,” he noted.

The ambassador said the bilateral meeting will have technical engagements, presentations, and contact-building. It will create platforms for conversation.

He noted that while having been importdependent for food in the 1960s and 1970s, his country now is the largest producer of food grain. In addition to feeding its 1.3 billion population, it also exports some surplus.

India’s other proposals included: (1) A partnership on training of skills where India may conduct pilot projects for modest funding from the said country; (2) Strong dialogue on market access, considering the Philippines is a major garlic importer, while India is a garlic producer; (3) Solar energy production, as a lot of irrigation canals in India are now used as areas for lake solar panels. These supply of energy is used for farmers’ needs, and any excess electricity goes to the national grid; (4) Exchange in integrated farming strategies, where energy generation from farming waste is used for other farming processes. This helps combat climate change and its adverse effects; and (5) Partnerships in organic food production.

Japan funds agri devt thru NGOs

A ‘WOMEN power’ in full display at the webinar EU IN THE PHILIPPINES

Equality, empowerment

WHILE the EU is a global leader in gender equality and has made significant progress in the last decades, gender-violence and stereotypes continue to persist. However, the bloc is firmly committed to continue its quest for gender equality and empowerment.

Salvador presented the GAD programs of the DFA, which included the GAD Focal Point System and the department’s fouryear GAD Agenda from 2019 to 2022. She also highlighted the significant achievements of the DFA in promoting gender equality in the international arena, then outlined the department’s GAD programs for 2021 as part of its efforts to continuously mainstream related policies in its programs and activities.

The country’s ambassador to Germany Ma. Theresa Dizon-De Vega and to Portugal Celia Anna Feria, as well as ambassadors to the Philippines Grete Sillasen of Denmark and Michèle Boccoz of France, also shared their best practices in gender mainstream-

ing, as well as their insights and reflections on the realities of gender dynamics in diplomacy.

Sillasen urged her fellow female diplomats to help one another make the foreign service a special place for women diplomats: “Those of us who work in diplomacy know that it also tends to be very competitive.”

For her part, Feria pointed out the need to focus on programs that will allow Filipino men to participate: “They need to appreciate more the value and significance of gender equality, and [the way it affects] interactions in our families, in our communities, in our societies, and in our country,” she suggested.

Gender champions

MANY countries acknowledge the role and contributions of women in diplomacy by adopting gender-parity initiatives and allowing them to occupy space in the field, as seen in the appointment of Ursula von der Leyen, the first female European Commission president.

The discussion was moderated by Ambassador Saskia de Lang of the Royal Netherlands Embassy, who is the EU’s gender champion. She noted that while there are plenty of gender policies being implemented to achieve a gender balance in the foreign service, much remains to be done.

Ambassador of Hungary to the Philippines Dr. Titanilla Tóth concluded the webinar on a realistic yet optimistic note, as she acknowledged the many milestones of women in diplomacy while recognizing the need to work together to address remaining challenges.

Participants of the webinar included representatives from various diplomatic posts, government agencies, and universities that offer gender studies and international relations courses. It was supported by the United Nations’ Women, the University of the Philippines’s Center for Women’s and Gender Studies, and the De La Salle-College of Saint Benilde School of Diplomacy and Governance.

MBASSADOR Kazuhiko Koshikawa signed grant contracts on March 17 with Japanese nongovernment organizations (NGOs) conducting activities in the Philippines. They are the following: Organization for Industrial, Spiritual and Cultural Advancement Int’l. for the “Negros spreading sericulture-based silkworms nationwide deployment support (Phase 3),” with a grant amount of $574,214 (approximately P27.7 million). In this project, seven provinces (Benguet, Nueva Vizcaya, Aklan, Iloilo, Antique, Misamis Oriental and Negros Occidental) will undergo mulberry field maintenance and other activities in each site to contribute in improving the skills of the farmers. This aims to develop model sericulture farmers, whose additional expertise in the future will increase the production of cocoon and high-quality raw silk.

Ikaw-Ako for the Commercialization of Japanese Quality Strawberry and Promotion of Agri-Tourism in Highland (Phase 2), with a grant amount of $263,644 (about P12.7 million). This project works to commercialize strawberry cultivation and encourage farm tourism in the village of Patag in Silay City, Negros Occidental. It will lay out an income option for the residents by utilizing Japan’s strawberry-cultivation technology and expertise in the operation of agri-tourism farms.

The Japan Agricultural Exchange Council for the Safe Vegetable Production Technology

AMBASSADOR Kazuhiko Koshikawa (right) and a beneficiary

Dissemination and Vegetable Distribution System Improvement Project, with the grant amount of $789,856 (around P38.1 million). This aims for the dissemination of the technology of applying charcoal, wood vinegar and compost produced by locally available materials in the vegetable fields to reduce production costs and secure income for farmers. It is also geared to improve the vegetabledistribution process in Central Luzon.

The Grant Assistance for Japanese NGO projects started in the Philippines in 2002. Since then Japan’s government has made contracts for 55 projects in the Philippines under this scheme, amounting to approximately ¥1.4 billion in total.

Its embassy in the country believes that these projects will not only strengthen the friendship between peoples of both countries, but also bolster their existing strategic partnership.

B4

Show BusinessMirror

Thursday-Sunday, April 1-4, 2021 • Editor: Gerard S. Ramos

www.businessmirror.com.ph

Today’s Horoscope

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Asa Butterfield, 24; Hillary Scott, 35; David Oyelowo, 45; Susan Boyle, 60.

HAPPY BIRTHDAY: Share your enthusiasm this year.

Step outside your comfort zone if it will help you get things done. Explore new places and pastimes. Check out what nature has to offer. Get back to the basics and enjoy life. Your ability to get things moving in a positive direction will give you the momentum and assistance that will help you excel. Your numbers are 9, 14, 19, 26, 31, 38, 44.

GAMES OF CHANCE

WE wonder how the public official, who was an actor and still has endorsement and ambassadorship gigs, feels now that casinos are closed again because of ECQ? The public official is always spotted in casinos and it’s been an open secret for years. He may have an clean public image and he may not seem to be the type to have vices but he is human. The public official loves to gamble and will even give up sleeping for it.

He has never kept this a secret and as early as 2014, he was already a frequent visitor at a casino. This is strange since by law, government officials are not allowed in casinos, much less gamble while they are there.

ARIES (March 21-April 19): Spend less and accomplish more. Put a budget in place, do the work yourself and bring about the changes that will make you feel good about your accomplishments as well as prospects. ★★★★★

TAURUS (April 20-May 20): Open up, discuss matters that concern you and look for solutions that everyone favors. Getting along will be half the battle and will also help you dismiss the uncertainty and confusion that comes hand in hand with indecisiveness. Focus on the future. ★★★

HE IS POSITIVE

THE actor was swabbed before he went into the locked-in taping and he was negative for Covid-19. He claimed that he quarantined before the taping period. While taping, the cast and crew were swabbed again and guess what? The actor was positive. He had to go home and his whole family was positive, too. Luckily, they have very minor symptoms. It’s not clear if any of the cast and crew of the drama the actor is working on have tested positive but what happened is quite scary and underscores the importance of maintaining health protocols. So for now, the actor is posting old photos on IG and making them look as if they were new shots. This isn’t his first bout with Covid-19, by the way. Last year, he had a scare when someone he worked with tested positive.

A SNOB

SO the actress and her rumored boyfriend, who is said to be the father of her child, went to the beach recently. Of course, fans at their destination were so thrilled to see them together publicly as they rarely are out. In fact, aside from the time they were working in a drama, they don’t have any public pictures together. So, yes, fans wanted a picture with one of local showbusiness’s most elusive couples. But while the actor was quite amiable, the actress was having none of it. She wasn’t hostile but she wasn’t friendly either. The actor was forced to wave off (in a very nice way) requests for photo-ops. While the actor was doing that, the actress was looking the other way in a haughty manner.

LOVE OF HIS LIFE

THE former beauty queen and actress is a very confident woman. Even if her husband had many girlfriends in the past, including two children with different women, she chose to accept him. But she draws the line at this celebrity who her husband was once in love with. The guy doesn’t deny that the celebrity was the love of his life. The husband and the celebrity still have fans rooting for their love team, which is strange considering that they haven’t had a project in years.

So a recent post of the celebrity that became sort of viral irked the wife so much that she had to tell her husband that she didn’t like the celebrity sort of talking over her.

BTS condemns anti-Asian racism, says they’ve

experienced it

GEMINI (May 21-June 20): Be aware of what’s going on around you and the limitations you face if you let others make decisions for you. Do your own thing, and make your decisions based on how you feel and what you can do. ★★★

CANCER (June 21-July 22): Be imaginative; put a unique spin on whatever job you are assigned. If you go the extra mile, success is sure to follow. A partnership looks promising. Don’t be afraid to make the first move. ★★★

S

BY JUWON PARK The Associated Press

they endured is “inconsequential” compared to “events that have occurred over the past few weeks,” they felt the need to speak out. “What’s happening right now cannot be disassociated from our identity as Asians,” the band said.

Many Asian Americans believe the Atlanta shootings were racially motivated. Police say they are still trying to determine a motive. High-profile stars of Asian descent like Steven Yeun, Simon Liu and Sandra Oh have been vocal about spreading awareness of anti-Asian violence. “I am proud to be Asian! We belong here,” Oh shouted into a megaphone at a Stop Asian Hate rally in Pittsburgh last week.

BTS is one of the first South Korean bands to openly condemn anti-Asian racism. K-pop bands are known to be careful about maintaining personas created by their labels, which often muzzle stars on touchy subjects like race and mental health.

BTS has addressed racial discrimination and violence. In 2020, the band donated $1 million to the Black Lives Matter movement, which was quickly matched by their fans within a day, according to One In An ARMY, a global fundraising team made up of BTS fans. ■

EOUL, South Korea—K-pop superstar group BTS has condemned racism against Asians, Asian Americans and Pacific Islanders in a statement saying they’ve experienced it themselves.

“We stand against racial discrimination,” BTS tweeted Tuesday in English and Korean. The band said their own painful encounters with racism included “expletives” and being “mocked for the way” they look.

BTS issued their statement after recent attacks against people with Asian heritage in the United States, which have risen during the coronavirus pandemic. A white gunman recently killed eight people, including six women of Asian descent, at Atlanta-area massage businesses.

“We cannot put into words the pain of becoming the subject of hatred and violence,” the band said in the statement, adding that their experiences made them feel powerless and chipped away at their selfesteem. In February, a German radio station drew ire when a host compared the band to the coronavirus.

The band said that although the discrimination

GMA First Vice President for Program Management Jose Mari Abacan

Telesine” stories that are engaging, topnotch quality movies that were made for television. Meanwhile, Takilya Throwback features local classics from the 1970s to early 2000s.

In Block Screening, hit foreign movies await viewers. Last, widely followed contemporary Filipino movies will air on the Pinoy Movie Date block.

“We want to provide the Filipino audience a one-stop shop, ‘freemium’ digital channel, which is readily accessible and offers a mix of foreign and local film features especially during this period of pandemic when viewers crave for entertaining content while in the convenience of their homes,” said GMA first vice president for program management Jose Mari Abacan.

VIRGO (Aug. 23-Sept. 22): Choose your battles wisely. You’ll be much further ahead if you concentrate on bringing about the changes that will make your life better. Learn, experience and make adjustments that allow you to up your game. Don’t get angry; get moving. ★★

LIBRA (Sept. 23-Oct. 22): Connecting with people who have similar ambitions will help you reach your goal quicker. A partnership looks inviting as long as you keep things equal.

Discipline and hard work will pay off, but letting others do something for you will not. ★★★★

SCORPIO (Oct. 23-Nov. 21): Focus on what matters to you. Take care of money matters so you are free to do the things you want to do. Personal growth, educational pursuits and getting back to your roots will help dismiss indecisiveness. Trust your intuition. ★★★

SAGITTARIUS (Nov. 22-Dec. 21): Put your heart into something that matters to you.

Personal and domestic improvements will pay off. Refuse to let an outsider interfere in what you are trying to accomplish. Moderation and discipline will help you excel. Romance is favored. ★★★

CAPRICORN (Dec. 22-Jan. 19): Share your thoughts, feelings and desires. Building a strong base with people heading in a similar direction will give you the strength, courage and resources to reach your destination. ★★★

New digital movie channel launched GMA again raises the bar in the viewing experience with the launch of the newest digital channel I Heart Movies on April 5.

A fun and energetic channel for the young and young-at-heart, I Heart Movies is set to give movie enthusiasts a new way to celebrate their relationship with cinema from the comfort of their home.

From romance, drama, horror, action to comedy, I Heart Movies offers a wide variety of free-to-air, all-time favorite Filipino and foreign titles that will capture hearts and touch lives. The channel introduces four movie blocks—Timeless Telesine, Takilya Throwback, Block Screening, and Pinoy Movie Date—each composed of movies for all ages.

Timeless Telesine presents various “GMA

LEO (July 23-Aug. 22): Learn from someone you look up to, and pitch in and help. What you do to make a difference will lead to opportunities to get ahead doing something gratifying. Romance is on the rise and will enhance your personal life. ★★★★★

“We are now contending with a fickleminded audience. The pandemic has given birth to an abundance of content and through the advent of OTT platform services, viewers are now spoiled for choice—where to watch, and when to watch. By offering a more diverse lineup of movies, we hope to provide a free TV alternative for everyone,” he added.

Viewers can catch I Heart Movies’ on channel 5 in GMA Affordabox and GMA Now. It will also be available on other digital TV boxes.

More information is available at www.gmanetwork.com.

AQUARIUS (Jan. 20-Feb. 18): Look at what you are capable of doing, and you’ll find a way to use your skills to advance.

Be inventive, and do your own thing. Physical fitness will ease stress and help you look and feel your best. ★★★★

PISCES (Feb. 19-March 20): Stick to the truth, and you’ll avoid an awkward moment.

Put your energy into self-improvement, fitness and a healthy diet, and it will help you avoid overindulgent behavior brought on by temptation and individuals who aren’t trustworthy. ★★ BIRTHDAY BABY: You are playful, friendly and persistent.

You are convincing and resourceful.

‘where’s the beef’ BY FRED PISCOP The Universal Crossword/Edited by David Steinberg

ACROSS 1 15-minute pursuit?

5 Plucked instrument 9 Skater Rippon 13 Drinks similar to Slurpees 15 Uzbekistan’s continent 16 One-named soccer great 17 Bronco’s activity (hint: delete letters 8 to 10 in this answer) 19 Walk like a hippo 20 Catchall abbr.

21 ___ de vie 22 Puts on, as makeup 24 Like some auto mirrors 27 Schreiber of Ray Donovan 28 “Bambi” collectible 29 Rescuers of 69-Across 33 Sporty Italian auto, briefly 36 Heavy-duty lifter 37 Word before “roaring” or “current” 38 Southeast Asian ethnic group 39 Airport rental (...2 to 5) 41 Smog watchdog org.

42 Blow it 43 Glowing reviews

44 45 47 49 50 55 58 59 60 61

Pivotal WWII date Some marbles Get benefit from Salt Lake City collegians Camp shelter’s “door” Had for supper A-lister, for short Eggs, to biologists Neighbor of Yemen Person who eschews the starred answers’ deleted portions 64 Furry visitor to Oz 65 Sportscaster Andrews 66 Far from long-winded 67 ___ out (barely manages) 68 Perot of the Reform Party 69 Microchipped animals, perhaps DOWN 1 Carpet material 2 Less than 90 degrees 3 Hajji’s destination 4 Cartoon shriek 5 Dutch court site, with “The” 6 Tree that rhymes with a synonym for “money”

7 8 9 10 11 12 14 18 23 25 26 30 31 32 33 34 35 36 39 40 44 46 47 48 51

Antipiracy org.

Running of the bulls site Bit of Java programming Monopoly card (...3 to 7) Moisturizer in tissues What docs prescribe Holey utensil Shingle securer “Pied” musician of legend Portable DVD player brand Most toasty Bits of gel Kelly on TV Fix at the vet’s office Baldwin of 30 Rock Dr. Zhivago’s beloved Strong suit (...4 to 7) Yield to pressure 2015 boxing film Takes a break from flying Dict. entry Transcription takers, briefly Watt or tesla Mar. 17 honoree Makes equal

52 53 54 55 56 57 62 63

Longest river in France Sailor’s “Stop!”

Windex surfaces Shower love (on) Post-accident assurance “Fiddling” emperor US soldiers One curl or press

Solution to Tuesday’s puzzle:

Parentlife BusinessMirror

www.businessmirror.com.ph

Editor: Gerard S. Ramos

• Thursday-Sunday, April 1-4, 2021

B5

My ‘ones’ in managing anxiety: Part II TOP TIPS FOR PREGNANT WOMEN DURING THE COVID-19 PANDEMIC

BEING pregnant should be the happiest time for expecting parents. These days, however, their excitement is most likely shrouded by stress and anxiety due to the ongoing Covid-19 pandemic. To help ease the worries of mothers-tobe, AXA Philippines, one of the country’s leading insurance providers, offers these tips to help them stay healthy and safe throughout their pregnancy: stay at home; maintain healthy habits; practice strict Covid-19 protocols; ensure your safety when going to the hospital; and prepare for any health-related situations.

With the company’s MyLifeChoice, the possibilities are endless as the new plan allows you to practice goal-based and long-term investment planning. More information is available at bit.ly/3sH0EVs. The Covid-19 pandemic is a difficult time for many families, but even moreso for mothersto-be. The tips meantioned earlier should help them to have a safe pregnancy journey.

Superstore brand caps year of outreach and giving LANDERS, the country’s fastest membership shopping establishment, capped off the pandemic and eventful year 2020, with a continuing series of community outreach and relief missions to help those badly affected by crises.

Right before the Christmas season, Landers partnered with the Armed Forces of the Philippines (AFP) to launch its #UlyssesPHAid relief effort which provided donations to affected areas, where Landers members and nonmembers dropped off their donations at branches in Metro Manila. Donations included water, canned goods, clean clothes, slippers, personal hygiene items, face masks and shields, blankets, pillows, sleeping mats, noodles, milk, diapers, and over-the-counter medicines, among others. The relief effort has provided aid to a total of 1,591 families across calamity-affected areas. Six hundred families in Rodriguez and Tanay, Rizal, 500 families in Cagayan de Oro, and 491 families in Isabela were aided through the relief effort.

But even before the typhoon, Landers has already been reaching out to the community all year long. It started with the launch of Help Taal which provided aid to the victims of the Taal volcano eruption. The superstore brand also initiated several efforts to help vulnerable families and communities during the Covid-19 lockdown. These include distribution of food packs to several hospitals, the Pantawid ng Pagibig partnership with ABS-CBN, and the Share the Hope campaign, among others.

Aside from these, Landers Superstore (www.landers.ph) also made sure to inspire hope by hosting virtual events with Sarah Geronimo and Matteo Guidicelli.

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AST week I shared how water may help relieve anxiety. This week, let’s go a bit deeper.

We must face the reality of less communication and understanding among family members, which studies have shown to be a source of anxiety to both parents and children. This is one of the results of too much individual gadget time and a generally more stressful environment after a day’s tasks. This may lead to kids not feeling their homes as a place to lay out their anxieties. Then before we know it, they grow into their teen years distant, and in more extreme cases in needing of more serious emotional help.

My daughter Meagan, at age 14, recently told me at dinner that she felt lucky she is able to tell me anything. On another instance, she showed me a note she wrote about how down she felt that particular day, but how lucky she felt to have a family that supports her, to have a roof over her head, and have a great relationship with her mom and dad. She ended the note with “I feel blessed.”

I believe healthy communication, as basic as it may sound, is fundamental in raising happy and fulfilled kids. That’s why my second installment of my “one” solutions for managing family anxiety and emotional health is about “words”.

I believe anxiety can be handled better by identifying one’s emotions. For me, the best way to identify it is to write it down. That’s why I have journaled since I was in the third grade. According to Health.harvard.edu, “writing about thoughts and feelings that arise from a traumatic or stressful life experience—called expressive writing—may help some people cope with the emotional fallout of such events.”

According to Healthline.com, writing can be an effective way to explore how you feel, especially if talking out loud feels impossible. According to the health platform, studies show that keeping a journal is actually a healthy way to deal with negative feelings and can help reduce stress.

Although writing alone may not provide all the solutions, I believe it helps at least organize our thoughts as we attempt to find meaning in these experiences. This, in my opinion, if continuously done, can serve as a great building block for emotional resiliency, both in kids and in adults.

So, for this Holy Week, I recommend the following activities: n READ TO THAT TRIGGER AND BE INSPIRED. My recent

re-read was What I Know For Sure by Oprah Winfrey.

Look through old journals, greeting cards or even notes from loved ones. Revisit the feelings they trigger. Relish especially the moments of joy. n WRITE IT OUT. Find a notebook, even those free ones you get, or open a new note in your Notes application. Start by writing down the date. Write about anything. Jot it down in poetry if you wish.

If nothings pops up, try to fill in the blanks to this sentence: “Life at [your age now] is [pick three adjectives] because....” Then, continue with “I am grateful for [write as many as you want].” I honestly do not journal now as much as I used to. But in quiet times like long holidays, I would open my Notes and continue on from my previous journals. Even your kids can do the same exercise. n CREATE SELF-QUOTES. After writing it out, one might get triggered with all the stressful things we are facing. Imagine what advice you can give yourself. You can even look through applications like Motivation and pick an uplifting quote. Bring out any colored material and just draw it out to post on your desk or work area. You can opt to create a digital artwork and keep it on your phone’s photo album. Then every so often, you can open that folder and read through these mantras when you feel down. You can even make this as a fun family activity this Holy Week by creating

positive quote artworks to serve as encouragement for each other. n ATTEMPT TO DO A LIFELINE EXERCISE. As I was researching for this column, I found a college submission I did for Psych 11 class, called The Lifeline Exercise. It basically tells you to chart your life in an excel sheet with the following columns: Age, Significant Experience, What Happened, Feelings, Significant People, Score of feeling from -5 to +5. n SHARE YOUR STORY WITH YOUR FAMILY. After doing this lifeline, I am certain you will feel nostalgic and maybe laugh a lot about the things you have done in the past. This can be a start of the many stories you can share with your kids about your childhood. You making the first move to share can bring forward their own sharing as well.

Let this Holy Week be a start of FAMILY WORDS. Let’s give each member the permission to be human and express both their happy and vulnerable sides.

I always believe that each of our lives is our own “handmade” story. If you are bold enough to write it out, it means you were bold enough to live it out your way. Let words with ourselves and our families allow us to listen, understand and give pride to our emotions. By doing so, we could lessen anxiety and appreciate our own stories a little bit more.

Advanced Happy Easter, everyone. n

Bruises and rashes: Common skin conditions or causes for concern?

SOMETIMES, you can judge a book by its cover. Take our skin, for instance. The most extensive organ of the human body is one of the first things doctors examine for telltale signs of an underlying disease.

A butterfly rash on the face suggests one might have rosacea, contact dermatitis, or lupus, while a dark neck or armpits is a symptom of diabetes.

Jaundice is the term for yellowish skin caused by an excess of bilirubin in your blood. It’s a sign that something may be wrong with your liver, gall bladder, or pancreas.

Bruises and rashes are common skin conditions that are generally harmless and temporary. But when are they signs of something more serious?

The country’s leading health institute, Makati Medical Center (MakatiMed, www.makatimed.net.ph), through its Section of Hematology, enumerates these conditions, their possible causes and when to see a doctor. n BRUISE. “A bruise occurs when a blow or impact to our body breaks the small blood vessels or capillaries near the surface of our skin, causing blood to leak out and appear as a black-and-blue mark,” says Rosalio Torres, MD, section chief of Hematology. “This eventually disappears as the blood is reabsorbed by the body.” Women are more prone to bruising than men, as are the elderly, as the fatty layer that cushions their blood vessels thins as they age.

Bruises are also caused by: certain medications such as aspirin, blood thinners, anti-platelet agents, and even some antibiotics and herbal supplements affect your blood’s ability to clot; vigorous exercise, which can cause microscopic tears in blood vessels; Von Willebrand Disease and Hemophilia, rare

disorders (Von Willebrand disease for women and hemophilia for men) characterized by a lack of sufficient blood-clotting proteins or clotting factors. n JAUNDICE. This is the yellowing of the skin and whites of the eyes, may also be an indicator of a blood disease. n NUTRIENT DEFICIENCY. A lack of vitamin C, vitamin K, and vitamin B-12 may result in bruising, he says. Consult your doctor if you show other symptoms of vitamin K deficiency like bleeding gums, blood

in your stool, profuse menstrual flow, and excessive bleeding from a wound. n DIABETES. “Diabetes per se does not cause bruising, but it slows down the healing of wounds and bruises,” Torres explains. See your health practitioner if the bruise is accompanied by other classic symptoms of diabetes: insatiable thirst and hunger, frequent urination, sudden weight loss, tingling or numbness in the hands or feet, and blurred vision. n THROMBOPHILIA. “When your body produces too

much clotting elements, you tend to form blood clots easily. This increases your risk of developing deep vein thrombosis [a blood clot in the vein of your leg] or pulmonary embolism [a blocked blood vessel in the lungs],” says Torres. Blood thinners are prescribed to patients with thrombophilia, and this makes them bruise easily.

Bruises normally go away on their own, he adds. But if a bruise doesn’t improve in two weeks, doesn’t disappear after three to four weeks, or if it is accompanied by some swelling and pain, see your doctor immediately. n RASHES. According to Torres, “A rash is a noticeable change in the texture and color of the skin.

It’s an irritation that is usually red and can be dry, scaly, bumpy, itchy, or slightly elevated.”

A number of conditions manifest in the form of rashes—from a simple diaper rash to fungal infections like ringworm and athlete’s foot and viral infections like chicken pox and measles, and more serious disorders like lupus erythematosus.

“Hives are the most common type of rash, affecting one out of five people,” he says. “They appear suddenly and are often triggered by a specific allergen.

Though irritating, hives are relieved once the allergen is identified and removed, or after you take an antihistamine. “See a doctor if the rash develops all over your body, is accompanied by a fever, begins to blister, and is painful,” says Torres.

If bruises or rashes have become a concern for you, don’t delay and consult with your doctor. With the skin being the most extensive organ of the body, and indicator of possible underlying illnesses, it deserves your attention and care.

ILLUSTRATION FROM MINDFULURGENTCARE. COM

B6 Thursday-Sunday, April 1-4, 2021

Puregold net income grew 18.9% to P 8.05 billion in FY 2020

Bellevue Bohol participates in Earth Hour with 60KM cycling and 1,000 trees initiative

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HE Green Hotel Awardee stays true to its promise to protect the environment despite the pandemic As a recipient of the ASEAN Green hotel awards for two consecutive years, The Bellevue Resort-Bohol vowed to continuously launch new and sustainable green initiatives. Gathering as early as 4am on March 27, 2021, 68 bikers from local volunteers assembled at The Bellevue Pavilion to kicked-off Earth Hour with a 60-kilometer fun ride around Panglao Island in an effort to promote fitness and awareness to reduce greenhouse gas emissions and global climate change.

Earth Hour (60+) is a collective effort to rehabilitate and preserve our

planet – the worldwide campaign is supported by volunteers from across the globe. This year, Bellevue Bohol organized 60KM for 60+, a Cycling and Tree Growing Event as part of its beyond-the-hour participation in partnership with Department of Tourism, Provincial Government of Bohol led by Governor Arthur C. Yap, LGU Panglao and Dauis, Globe Telecom and Clean Code. The resort has strictly implemented its health and safety measures throughout the event to ensure everyone’s safety.

The 1000 trees planting initiative for a greener Bohol was also achieved during the event with the help of 119 dedicated volunteers including bikers, in collaboration with the Department

of Environment and Natural Resources (DENR), Bohol Environment Management Office (BEMO) and the Provincial Youth Development Office (PYDO). The native tree seedlings have found its new home in Mahogany Water Reservoir, Brgy. Lourdes, Panglao, and now undercare with the resort’s tree growing project to ensure their survival as part of its sustainable tourism advocacy.

Since its opening in 2013, the luxury and eco-friendly resort has been participating in Earth Hour for its eighth consecutive year in efforts to reduce its industrial footprint and highlight the importance of playing an active role in protecting the environment in Bohol.

Visit www.thebellevue.

Manila Water Foundation, Teleperformance Philippines collaborate to support DepEd’s WASH in Schools

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ECOGNIZING the role of proper hand hygiene to children’s health and development even beyond the pandemic, Teleperformance Philippines, through its corporate social responsibility arm Citizen of the World (COTW) Foundation, teamed up with Manila Water Foundation (MWF) to build a ten-faucet hand hygiene facility in Tanay National High School in Rizal.

This is a collaboration project made possible through the LCFWinS: Lingap Eskwela sa Pandemya, an initiative of the League of Corporate Foundations (LCF), in support to the WASH in Schools program of the Department of Education.

Last March 10, MWF and Teleperformance Philippines formally turned over the hygiene facility to the

teachers and staff of Tanay National High School who frequent the school even at this time of the pandemic to prepare modules for distribution and parents who return the completed modules. The construction of the facility aims to help the school observe proper safety precautions. Strategically located beside the school’s main entrance and its toilet facility, this will benefit a total of 2,978 students, teachers, and nonteaching staff upon resumption of faceto-face classes.

Upholding health and safety above all, the handwashing facilities under the LCFWinS program can be operated by a pedal. There is a one-meter distance between faucets to observe physical distancing. Each facility is built with ten faucets with soap containers and

installed with signages about COVID-19 precautionary measures, proper handwashing, and proper toothbrushing.

The turnover last March 10 is only one of WASH projects that Teleperformance Philippines funded. In November 2020, Teleperformance Philippines also donated 300 food packs to MWF’s Agapay program for the benefit of the families affected by Typhoon Ulysses.

The COTW Foundation aims to support and give essential aid to vulnerable sectors of society including chronically-ill children, orphans and abandoned elderly, and victims of calamities and natural disasters. It has successfully fostered the culture of employee volunteerism, as it partnered with various institutions promoting different advocacies.

P

UREGOLD Price Club, Inc. (PGOLD) has reported unaudited consolidated net income of Php 8.05 billion in full year of 2020 which represents an 18.9 percent growth compared to Php 6.77 billion in the same period in 2019.

Consolidated Net margin for the period is at 4.8 percent.

Puregold unaudited consolidated net sales increased by 9.2 percent to Php 168.63 billion in 2020. 73 percent of the revenues is attributed from the Puregold Stores network and 27 percent coming from S&R Membership warehouse clubs and S&R New York Style Pizza stores. Unaudited consolidated Income from Operations grew to Php 13.4 billion in 2020, up by 17.3 percent compared to Php 11.4 billion during the same period last year. Puregold stores registered same store sales growth (SSSG) of 2.4 percent in 2020 while S&R registered a SSSG of 8.7 percent during the same period.

“Our company has achieved a record-

Boat makers get help through a donation drive

SOME of the recipients from Pioneer’s Donation Drive.

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RUE to its slogan “Do It Right”, Pioneer Adhesives, the makers of several top-of-the-line adhesives, sealants and paint brands, recently donated a variety of products to members of Angat Sa Dagat (ASD), an organization which aims to uplift and recognize the quality of work of boat makers in the country.

The donation, which included Pioneer Epoxy, Pioneer Marine Quick Dry Enamel Paint, Pioneer Elastoseal, Polyfil, and White Glue, benefited some 50 boat makers from Batangas, Camarines Sur, and Albay that were badly affected by Typhoons Quinta

and Rolly late last year. The superior line of Pioneer products will greatly help the boat makers in their effort to repair their seagoing vessels that were damaged by the two typhoons.

Pioneer continues its donation drive in the provinces of Catanduanes, Camarines Sur, Oriental Mindoro, and Occidental Mindoro in a bid to lend assistance to nearly 100 boat makers in the coastal areas severely affected by the typhoons. Aside from which, ASD members are entitled to join Pioneer’s loyalty program and other promotional activities.

Mondelez Philippines to provide free COVID-19 vaccines for all employees plus two of their beneficiaries

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AT THE TURNOVER OF THE HYGIENE FACILITY TO TANAY NATIONAL HIGH SCHOOL, FROM LEFT: Norman Littaua (Vice President, Citizen of the World Foundation of Teleperformance Philippines), Katrina Cruz (Project Manager, Citizen of the World, Teleperformance Philippines), Vidal Mendoza (Principal, Tanay National High School), and Reginald Andal (Executive Director, Manila Water Foundation).

breaking year in 2020 despite a lot of challenges due to the Covid-19 pandemic.

We cannot achieve this without the support and commitment of our suppliers and employees on providing the best product and service to our customers. We are committed to drive sustainable growth in 2021 thru continued store expansions and innovations in grocery retailing.” said Mr. Lucio Co, Chairman of Puregold.

As of end December 2020, Puregold group has a total of 469 stores nationwide.

These include 403 Puregold stores, 20 S&R membership shopping warehouse, and 46 S&R New York Style QSR.

S the country gears up to recover from the impacts of the pandemic, companies continue to prioritize the safety and well-being of their people. If there’s anything businesses have learned during the past year, it is that people should always come first. Safeguarding the safety of their people ensures companies can withstand the impacts of the pandemic and strengthen their organization for what comes next. For snacks maker Mondelez Philippines, this includes providing protective vaccines against COVID-19 for their people and their families.

“Our frontline essential workers have continued to make, ship and sell our food products during the pandemic, to ensure Filipino consumers always have continued access to the brands they love,” shares Ashish Pisharodi, Country Director of Mondelez Philippines. “When the pandemic started, we strengthened our safety procedures in our plant and office.

These included enhanced protocols around sanitization, mask and face shield use, site-specific technology-enabled visitor management, and social distancing measures. We established on-site testing protocols and secured the services of an infectious diseases doctor on-site to continue guiding us. Colleagues who did not need to report to the office have also been working from home for more than a year now and benefit from a Flexible Working Policy to allow them time to perform both their work and home duties.”

This support has also extended to sharing expert guidance to adopt safe practices when commuting to

and from work and at home, to reinforce the health and safety culture in its workplace. The same principle applies to the Company’s next step of vaccinating its people, as well as their families.

“Experts are clear that safe and effective vaccines are what will end this pandemic,” adds Ashish. “Vaccine hesitancy has been observed to varying degrees across the globe. To encourage and incentivize our people to get vaccinated as soon as they’re made available, we will cover the cost of vaccine for each employee as well as two of their chosen beneficiaries. We will also provide flexibility to allow time for employees to get the vaccine. A survey we conducted recently reveals that most of our employees will avail of the vaccine as soon as local rollout plans permit.” Mondelez Philippines has placed an order for vaccines from Moderna through a Tripartite Supply Agreement signed by the latter, a private sector representative, and the Philippine government. “ “It is important for us to provide access to vaccines to our people’s families as well to ensure they not only stay safe at work but more importantly, at home. For employees who wish to secure vaccines for additional family members, we have also offered them this flexibility at cost,” ends Ashish.

While vaccination will not be mandatory, the survey results are a source of great encouragement. Mondelez Philippines is anticipating the arrival of the vaccines in a staggered manner through this year and is preparing its teams for vaccination day.

Editor: Anne Ruth Dela Cruz

Health&Fitness BusinessMirror

FDA calls on public not to patronize fake vaccines

By Claudeth Mocon-Ciriaco

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ovid-19 vaccines are considered one of the country’s most precious commodities nowadays.

While everybody wants to be protected against the virus, Food and Drug Administration Deputy Director General Dr. Oscar G. Gutierrez Jr. warned that people should not buy vaccines online for these are not genuine products and may be harmful to their health.

“I am sure that vaccines sold online are fake vaccines. They should not be patronized by anybody.... otherwise, they are just giving money to the criminals,” Dr. Gutierrez said during the Kapihan session of the Department of Health (DOH).

Risk of fake vaccines Dr. Gutierrez stressed that fake vaccines may be contaminated and/or adulterated with hazardous substances that may even result in death.

Fake vaccines, he said, are ineffective and give a false sense of protection.

“Thus, the person may get infected and spread the infection in the community,” he said.

Vaccines that are accessed or bought from illegitimate and unauthorized sources are the most expensive vaccines, he added.

“It can lead to infection, severe disease, permanent disability or death,” he warned.

How can we spot fake vaccines?

Fake vaccines, he explained, are produced by criminals with the goal of imitating the genuine ones.

They are even labelled and packaged in a way that they look like the real thing.

“It is difficult to spot one,” he said.

However, a laboratory test is the only way to identify the difference.

He advised to look out for the

following features:

Label: Is not correctly labelled or not labelled at all; Has an out-of-date or missing expiry date; and Does not contain information on how to store the medicine.

Packaging: The packaging looks poorly constructed or appears to have been altered; and There are spelling or grammatical errors on the packaging or instructions

Vial Dirty or scratched vials (bottle); There are dents on the cap (plastic/aluminum) or it may be broken; The rubber seal is already punctured; and For products that need to be diluted, the color changes or the solution becomes cloudy because there are foreign matters inside the vial.

To ensure that the vaccine is not fake, Dr. Gutierrez said people should receive their vaccines only in DOH vaccination sites.

“As long as the public receives their vaccinations from a DOHauthorized vaccination site and the vaccines are given by licensed health practitioners, they can be confident that they are receiving genuine vaccines,” he said adding that the FDA has been coordinating with the World Health Organization, INTERPOL, and even with the Association of Southeast Asian Nations, Asia-Pacific Economic Cooperation, and United States Pharmacopeia.

Moms can still breastfeed if infected with and vaccinated vs Covid-19

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s it safe for a mother who contracted Covid-19 to breastfeed her baby?

Dr. Maria Asuncion Silvestre, said that mothers, even symptomatic, can continue breastfeeding their babies.

Mothers, according to Dr. Silvestre who is a member of the Healthcare Professionals Alliance Against Covid-19, should not forget to wear their face masks, wash their hands, and make sure that their surroundings are disinfected before they breastfeed for the very reason that the virus is transmitted through droplets.

“Breast milk itself has not been demonstrated to transmit the virus,” she added.

The mother should not also be separated from the baby for she might transmit antibodies to her baby.

Continuous breastfeeding Trizia, a Registered NutritionistDietitian, of Las Piñas City, continues to breastfeed her one year five months old toddler even if she contracted the virus.

Dr. Silvestre said that Trizia breastfed her baby throughout her own Covid illness and even after her vaccination.

“The baby is fine,” Dr. Silvestre shared.

Lovelinne, a registered nurse, is also a Covid-19 survivor. She was not separated from her baby while she was in a quarantine facility in Tacloban City.

After surpassing the allotted 90 day recovery period from Covid, she

Start early for successful

brain aging, expert says

Product: Fake vaccines may have striking physical differences from the genuine one as approved by the FDA with Emergency Use Authorization.

was vaccinated. “[She] breastfed her baby immediately after vaccination,” Dr. Silvestre added.

Meanwhile, Badit, the head nurse of Eastern Visayas Regional Medical Center, was caring for her mother who was infected.

“Both contracted Covid...[but she] continued breastfeeding,” Dr. Silvestre said. Her husband and baby on the other hand tested negative.

Covid-19 vaccines Dr. Silvestre also clarified that breastfeeding women can be vaccinated with any of the Covid-19 vaccines as supported by the guidelines of the World Health Organization (WHO).

“If a breastfeeding woman is part of a group recommended for vaccination, Covid-19 vaccination can be offered,” she said adding that it is not recommended to discontinue breastfeeding before or after vaccination.

She reiterated that there is no data on the safety of Covid-19 vaccines in breastfeeding or on the breastfed infant.

“Despite this, Covid-19 vaccines are not thought to be a risk to the breastfeeding infant, and the benefits of breastfeeding are well known,” she said.

Because of this, Dr. Silvestre also said, many countries recommended that the vaccine can be received while breastfeeding.

“This is in line with the recommendations of WHO, UK, Australia, US and others,” Dr. Silvestre concluded. Claudeth Mocon-Ciriaco

Thursday-Sunday, April 1-4, 2021 B7

By Rory Visco

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Contributor

hen terms such as “brain health” or “mind health” are mentioned, what comes to people’s minds is “memory.”

However, a lot of experts on the study of the brain say there is a lot more than just strong memory when it comes to active brain health.

And as people age, the brain likewise ages with the rest of the body.

We all know the wear and tear that happens to our physical nature so we protect and prolong our body’s efficiency and effectivity through exercise, proper diet, managed work-life balance, and eliminating or reducing daily stress levels.

Is there a formula?

When it comes to brain aging, we should start by recognizing that we all need to protect our brain health as we age. Perhaps the biggest test is this Covid-19 pandemic, where our brains are subjected to so many kinds of factors that could perhaps contribute to stress and duress or unfortunately, even breakdowns.

In his talk during the recent Herbalife Nutrition e-Wellness tour with local media, Dr. Gary Small, a professor of psychiatry and aging at the University of CaliforniaLos Angeles where he directs the Longevity Center, a member of the Herbalife Nutrition Advisory Board, and best-selling author of the book, “The Memory Bible,” focused on the topic, “Healthy Aging: Brain Fitness for Healthy Adults.”

According to Dr. Small, “brain aging” is inevitable among people,

to some extent, but it is not, in any way, uniform. “It affects everyone differently based on genetics, lifestyle, and the environment.”

He said that there is a growing body of evidence that suggests people who experience the least decline in cognition and memory share a certain healthy and active lifestyle.

Moreover, he said, populations with extreme longevity, where a large number of people live for 100 years or more, were noticed to have a few common traits with regard to their lifestyle: a diet that consists of the consumption of plenty of antioxidant fruits and vegetables, healthy grains, and protein, but also included is regular physical activity, and strong social networks.

In order to support a healthy aging process, Dr. Small said we all need to take care of both the body and mind. He enumerated at least six ways where Filipinos can start practicing the longevity lifestyle not tomorrow, but today.

Start exercising the brain early He said that once cognitive function becomes severe enough to cause dementia, it can be difficult or impossible to recover. That is why focusing on early intervention and protecting a healthy brain, instead of attempting an extensive repair, is so vital. “Research has consistently shown that people who spend more time in mentally stim-

ulating activities such as reading, playing word games, or learning a new skill, have a greater likelihood of sustaining and even improving memory, processing speed, attention, and perception.”

Just like any muscle in the body, the brain appears to perform better when it gets regular exercise. Mental stimulation has been shown to activate neural circuits and is associated with lower Alzheimer’s risk, he said. Educational achievements, bilingualism, or doing puzzles, according to Dr. Small, have all been shown to lower the risk of dementia.

“Memory training can also improve memory recall and help you maintain higher cognitive performance for five or more years.”

Do more activities and consume a healthy diet Several studies have already shown that people who get regular cardiovascular conditioning have larger parietal, temporal, and frontal brain areas, parts that are usually associated with stronger cognitive performance.

Doing exercises with a balanced diet supports brain and cardiovascular health. Dr. Small suggested consuming a healthy brain diet by eating food rich in omega-3 fats like fish and nuts, consuming more antioxidant-rich fruits and vegetables like mangosteen, durian, and eggplant, bitter gourd (ampalaya) and even garlic and more importantly, avoiding processed foods like it is the Covid-19 disease.

“Remember that these are tactics for maintaining a healthy body, as nutrition and exercise alone don’t prevent the onset of disease or reverse the effects of aging,” he said.

Make your own medicine He said it is of utmost importance that everyone should partner with

their doctor to help manage their wellness journey. Medicines for treating hypertension and high cholesterol, Dr. Small said, are commonly associated with better brain health and longer life expectancy.

Master the environment No one is perfect but if one can muster enough courage to manage and create a healthy environment, well and good. It is basically about limiting one’s exposure to dangerous environment-related things like smoke, smog, mold, and other toxins. Even avoiding information overload, TV addiction (where there is a borderline hunger for entertainment and actual addiction), and clutter by managing your residence and ridding it with unnecessary eyesores.

Keep a positive outlook This may be easier said than done but many people believe it is true that optimists generally live longer than pessimists. And optimism can be learned. Dr. Small said we need to find positive outlook, even in this time of great uncertainty and anxiety, through spirituality or being in harmony with nature.

“Practicing mindfulness, yoga, and meditation can help you get started on this track.”

There’s nothing wrong in being social Nurturing a strong community that one can rely on during both good times and the bad is essential to feeling supported and loved. Research suggests that having a large social network (not much probably on Facebook and other social media sites) with real people that one can touch, see and feel, can positively impact how one should feel, and therefore slow brain aging and preserve memory.

UST engineers make entrances safer with BEATRICE

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t is all part of the new normal to observe safety precautionary measures, wear face masks and face shields and observe social distancing when people are outside. Additionally, people have to fill out contact tracing forms before entering any establishment or make use of a QR code.

While vaccination is seen as the only hope to fight the effects of Covid-19, the government’s vaccination roll out program is seeing some delays. Due to this, the practice of safety precautionary measures remains a priority.

The European Centre for Disease Prevention and Control implemented the Non- Pharmaceutical Intervention (NPI) against Covid-19. NPI is a public measure which aims to mitigate the transmission of Covid-19 According to Centers for Disease Control and Prevention (CDC), NPIs are among the best public health interventions against the pandemic consisting of three main categories: (1) individual, (2) environmental, (3) population related with widespread, timely testing and contact tracing.

Contact Tracing is one of the NPIs used to battle against Covid-19, and one form of this is to require all establishments to ask people to fill out several contact tracing forms or scan QR codes before entering their establishment.

However, the practice of writing the same details all over again each time we an establishment does not only eat up one’s time; it can also be tiresome. This is where Project B.E.A.T.R.I.C.E. comes in.

Project B.E.A.T.R.I.C.E., an acronym for “Buildings and Establishments Automated Temperature Reading Integrated Contact Tracing Equipment,’’ is both a hardware and software system designed to increase the efficiency of contact tracing in buildings and establishments.

This is a dedicated, full contactless contact tracing equipment where the user will have a one-time registration to acquire a QR code I.D, and all that he has to do is to bring his I.D anywhere. For as long as Project B.E.A.T.R.I.C.E. is there, and as easy as 1,2,3, tap, he taps his I.D,

scans his temperature, disinfects, and he is good to go! Being contactless, this will also provide more safety to establishment frontliners such as the guards and door attendants.

The project was developed by EEnovatics, a startup under the Department of Science and Technology TOMASInno Center (DOSTTOMASInno Center UST). EEnovatics’ tagline is “We create and integrate.”

EEnovatics is composed of two Electrical Engineering graduates from the University of Santo Tomas, Souichi A. Takahama, who graduated in 2018 and Andrea Pauline D. De Guzman, who graduated in 2020. Their mission is “to provide technological innovation to issues faced by the world through research and development, with a vision of continuously innovating and creating solutions for a better world.”

EEnovatics developed project B.E.A.T.R.I.C.E. as a way to address particular issues that are encountered in the existing contact tracing efforts. Some of these issues include incomplete contact tracing forms, no centralized contact

tracing solutions, long queues at every entrance and the unavailability of smartphones and/or access to the internet of some citizens.

With project B.E.A.T.R.I.C.E., EEnovatics aims to provide a permanent solution as a preparation for any future pandemic.

The EEnovatics team conducted its pilot testing on December 18, 2020 at D’Banquet, a restaurant in Tagaytay City. The team was able to deploy and test its first prototype and is now continuously improving the system. The goal is to deploy Project B.E.A.T.R.I.C.E. in different establishments in Tagaytay City and eventually, in the whole country to centralize the contact tracing initiative, with the collective efforts and collaboration of business owners and citizens who patronize the establishments.

Currently, EEnovatics is looking for investors to help their startup business grow. With the intention of making every entrance safer, they hope that B.E.A.T.R.I.C.E can soon provide the safety and convenience that it is intended to offer.

Japanese scientists discover fabric spray kills 99.9% of Covid-19 virus

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eading Japanese household company Earth Corporation has announced breakthrough clinical studies confirming that Natucair, its brand of fabric and linen spray, kills more than 99.9 percent of the SARS-CoV-2 virus that causes Covid-19.

Shintaro Noda, in charge of Regional Marketing of Earth Corporation, disclosed that based on clinical studies made by the Japan Textile Products Quality and Technology Center in Kobe, Natucair was effective in killing 99.9 percent SARS-CoV-2 in suspension.

With 17 testing centers in Japan and around the world, the Japan Textile Products Quality and Technology Center is one of the most credible and trusted institutions when it comes to evaluating the efficacy of products to be used internationally.

The testing involved mixing nine parts of Natucair with one part sample of the SARS-CoV-2

using the plaque assay protocol. After five minutes of contact, the samples were re-examined to see the effect on the SARS-CoV-2 particles.

“We are extremely proud of our team of scientists and researchers who have made this groundbreaking confirmation,” says Yuya Suzuki of Research and Development. “Everyday, Filipinos should be able to have options and products that can help them stay safe from the dangers of Covid-19 and we’re happy to add Natucair to that list.”

This scientific breakthrough comes at a time when the Department of Health reported the highest surge of Covid-19 cases in the Philippines since the third quarter of 2020. Since early March, the Department of Health (DOH) reported more than 3,000 Covid-19 cases daily, peaking recently with over 8,000 to 10,000 cases reported in a single day.

As the numbers continue to rise, scien-

tists and researchers continuously search to identify key risks of transmission that help the virus spread and how to potentially counteract these risks.

One potential point of transmission that should not be taken for granted is fabrics. Recently, the BBC reported a study led by microbiologist Dr. Katie Laird that looked into the survival rate of Covid-19 on commonly worn fabrics.

According to Dr. Laird, these fabrics “pose a risk for transmission of the virus.”

Laird’s study showed droplets of the coronavirus added to three commonly used fabrics—polyester, polycotton and 100 percent cotton. Scientists then monitored the stability of the virus on each fabric for 72 hours. It was found that of the three fabrics, polyester posed the greatest risk as the virus survived for the full 3-day test period. Serious risks were also discovered on the other two fabrics. The virus

lasted for a full 24 hours on 100 percent cotton and six hours on polycotton.

Laird pointed out that these fabrics—commonly used in the uniforms of health-care professionals that regularly come into contact with Covid-19 patients—pose a great threat.

“If nurses and healthcare workers take their uniforms home,” said Laird, “they could be leaving traces of the virus on other surfaces.”

Shintaro explains that Natucair can become a handy part of every Filipino’s day. “As we all continue to remain vigilant and cautious in the face of the Covid-19 pandemic, it is encouraging to find that Natucair effectively kills SARS-CoV-2. As Natucair is designed to be used on fabrics, we recommend that all Filipinos should make it a daily routine to spray down their shirts, pants, and other fabrics in their outfits including the inner cloth linings of shoes with Natucair.”

Motoring BusinessMirror

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

Editor: Tet Andolong

B8 Thursday-Sunday, April 1-4, 2021

Nissan unleashes the new Navara

NPI president and managing director, Atsushi Najima with the new Navara Pro-4X variant

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Story & photo

by Randy S. Peregrino

INCE its introduction in 2015, the Navara pickup’s current generation undoubtedly gained a stronghold in the vehicle segment.

More so, Nissan’s brave move to adopt a coil-sprung rear suspension system, the first and only in its class, proved that toughness and comfort could go along. So recently, Nissan finally gave its versatile workhorse the needed makeover.

“We are unveiling the latest in Nissan’s 80-year pickup heritage— the tougher and smarter Nissan Navara. We build our pickups on the basic customer needs of versatility, quality, durability, and reliability. We pushed the basics to elevate the new Nissan Navara with more technology, more safety, more comfort, and more style,” said Nissan Philippines Inc. (NPI) president and managing director, Atsushi Najima.

‘Unbreakable’ design language

According to Nissan, this new pickup is the latest translation of its frame vehicles’ ‘unbreakable’ design language.

Notably, an enlarged front grille with a thick frame design gave the new Navara the same commanding looks its bigger sibling, the Titan, has. It is matched with unique and standard sharp-looking headlamps with quad LED beams and integrated daytime running lights.

Even the bonnet received new sharper profiles aligned to the overlapping top portion (with ‘NAVARA’ engravings) of

the grille. Of course, the front bumper looks better with a new set of fog lamps and bottom trims.

Inside, we noticed the new car-like steering wheel with controls along with new leather and fabric seat designs (zero gravity seats). Also, there’s a dual-zone automatic air-conditioning and seveninch high-resolution Nissan Advanced Display Audio unit. Other upgrades are auto-folding mirrors, rain-sensing wipers, lighter tailgate operation, and updated rear suspension with dual-rate coil springs. Impressively, the level of significant changes in the exterior could even pass for an all-new look, at least for unsuspecting onlookers.

Make way for the new Pro-4X variant

Also introduced is the new ruggedlooking Pro-4X grade designed for pickup enthusiasts and adventure lovers. Exclusive to this new variant are matte black grille and Nissan emblem, along with gloss black door handles and roof racks and 17-inch wheels. Moreover, it has lava orange accents on tow hook covers, fenders, and the Nissan badge. It’s also fitted with gloss black 17-inch wheels wrapped in all-terrain tires for that enhanced posture and off-road capabilities. Inside, the leather seats have exclusive PRO-4X stitching.

Blissful drive up north

Apart from the launch event, NPI also hosted a drive event for select members of the media up to Ilocos Norte. This was also to commemorate

the Navara’s first expedition to the province six years ago. Assigned to the entire fleet was none other than the new Pro-4X version. We took all the long connecting expressways and provincial highways for the pick to demonstrate its comfort and power on stretches. The highway cruise gave the new pickup enough room to stretch its legs.

Retained was the existing 2.5-liter diesel engine equipped with variable turbocharger dishing out 187 hp and 450 N-m of maximum torque mated to a seven-speed auto gearbox with manual mode. As expected, acceleration was unrelenting when you step on it. Passing multiple vehicles has never been easier, having a staggering torque at our disposal. Safe to say, the smaller rim size and wider tires of the Pro-4X also factored in providing that beefier acceleration.

But what amazed us was the level of steadiness during our entire freeway run, particularly at high-speed limits. Everything became seamless and cozy thanks to the cruise control, gentle ride, cool air-conditioning, and crisp music from the audio system. We reached Laoag City feeling we drove for lesser distance.

Dune adventure

Perhaps the best experience during our entire drive was when we get to test the Pro-4X’s off-road prowess on sandy terrain. For this particular test drive alone, we needed to set the drivetrain to 4H with Traction Control turned off to tackle the

challenging granulated terrain. In every section, our lead instructor was clear in giving out pointers on how to attack every varying trail. In one particular situation, we enabled the Hill Descent control to showcase the vehicle’s ability to apply the amount of braking on downward slopes autonomously.

But on open and winding paths, we were able to push the vehicle to its limits further. Every attack, it seemed that the Navara Pro-4X was telling us to step on it, never hesitate, as it hurdled every difficult section. We felt how the gearbox swiftly shifted on gears to maintain within optimum rpm range during challenging climbs.

Even the suspension system took most of the beating but performed well, nonetheless. More so, the light and responsive helm made constant steering, including counter steering, easier while charging to remain in the path.

In the end, we all felt wanting more from the Pro-4X impressive off-road performance.

Smarter and safer than ever

According to Nissan, this new pickup is the smartest one to date, packed with several Nissan Intelligent Mobility features such as Forward Collision Warning, Emergency Braking, Lane Departure Warning, and Around View Monitor (with off-road monitor), among others. These intelligent features demonstrated well during our highway cruise.

Now with a new radar system installed, alarms are emitted real-time on vehicles sensed from all directions, especially oncoming ones, within the safe distance and time for the driver to react. More so, there’s Driver Attention Alert, Blind Spot Warning, Rear Cross Traffic Alert, and High Beam Assist.

On top of the Nissan Intelligent Mobility technologies and numerous upgrades, Nissan will provide a fiveyear warranty exclusive for new Navara customers—a first in its product lineup. Price points for the new Navara variants are as follows: Pro-4X AT 4x4 (P1.849 million), VL AT 4x4 AT (P1.779 million), VL MT 4x4 (P1.699 million), VE MT 4x4 (P1.499 million), VL Calibre AT 4x2 (P1.599 million), VE Calibre AT 4x2 (P1.459 million), VE Calibre MT 4x2 (P1.369 million), and EL MT 4x2 (P1.149 million). All prices are inclusive of the provisional safeguard duties.

Suzuki introduces bigger and better Auto Pasong Tamo Satellite

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uzuki Philippines Inc. (SPH), the pioneer compact car distributor in the country, announces the opening of a new and improved satellite dealership in Pasong Tamo, aiming to provide an additional all-around service to Suzuki customers in Makati City and nearby areas.

The new Suzuki Auto Pasong Tamo Satellite is the company’s sixth dealership under the administration of The Shaw Motor Plaza Corp. Other existing dealerships under the latter’s management include Suzuki Auto Shaw, Suzuki Auto Batangas, Suzuki Auto Biñan, Suzuki Auto Lipa and Suzuki Auto Sta. Rosa.

The dealership, located at 2326 Pasong Tamo Extension, Brgy. Magallanes, Makati City, resides in a 695 square meter space, with a showroom that can comfortably exhibit 3 units. The newest addition to the Suzuki Auto Pasong Tamo Satellite dealership is its newly built service center boasting a total of 4 working bays. With this expansion, they will

be able to provide all-around services to Suzuki customers.

The Virtual Grand Opening Ceremony held last 22nd of March, was attended

by The Shaw Motor Plaza President/ Chairman Felix Limcaoco and Managing Director Rene Limcaoco together with the department heads of Suzuki Philippines headed by Mr. Keiichi Suzuki, VP and General Manager for Automobile.

The opening of this new-and-improved dealership, which now houses a service center as well, reflects Suzuki’s unrivaled commitment in providing only the best first-class service to its customers. The continuing challenges brought about by the current pandemic has not slowed down the company’s relentless pursuit in providing its products and services to the general public, all while following health and safety protocols. Let us continue to champion the Suzuki Way of Life!

For more information about Suzuki visit http://suzuki.com.ph/auto/, like it on https://twitter.com/SuzukiAutoPH and follow on Instagram at @suzukiautoph.

Teamwork elusive as ever; SMC’s ₧190-M aid & more

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HILE the ECQ (Enhanced Community Quarantine) is in force, a curfew of from 6 p.m. to 5 a.m. in Metro Manila has remained in force for two weeks since March 29. Just right. This is to arrest the scary spike of Covid-19 cases now rising to almost 10,000 infections daily beginning fourth week of March.

But exempted are the public buses that ply the metropolis, chiefly to transport employees maintained by vital industries, frontline health workers and those identified with operations/concerns on pandemic issues. Just right.

One year after the pandemic scourge, the government, sadly, finds itself still against the ropes. A slew of factors has conspired to put us in a bind: slow vaccine rollouts, late arrivals of ordered vaccines, confusion on prioritized vaccine recipients, the people’s inclination to not heed safety health protocols and many more, including resorting to blame-game and making petty matters big deal.

Unless real teamwork among our leaders is forged, quickly, and indulging in badmouthing and grandstanding isn’t thrown out the window, instantly, the road to recovery, if not normalcy, will remain, sadly, a dream as elusive as our first gold in the Olympic Games. Sigh.

SMC a bright note amid the crisis T W ELV E months later, San Miguel Corporation (SMC) has waived P190.7 million for medical frontliners passing through expressways it operates, SMC’s Jon Hernandez said.

SMC, which operates the Southern Tagalog Arterial Road (STAR), South Luzon Expressway (SLEX), the Skyway system, including the newly opened Skyway Stage 3; NAIA Expressway, and Tarlac-Pangasinan-La Union Expressway, is the only toll operator in the country that continues to implement the “no toll policy” in support of Covid-19 medical frontliners.

A total of 10,402 Covid-19 frontliners—doctors, nurses,

laboratory technicians, and other medical workers—currently benefit from the program, first announced by SMC at the start of the lockdown last year.

“One year on and the fight against Covid-19 continues. In fact, with this recent surge in cases, our medical frontliners are again facing a difficult challenge, and their lives are again at higher risk,” said SMC president Ramon S. Ang. “We are so grateful to them, and proud that we have continued to help them and provided them this privilege of free toll for one whole year now. We hope that at least, it has lightened their burden, and that every day they go to work, they are reminded of how San Miguel and the whole country are grateful for their sacrifices,” he said.

The free toll privilege was among numerous efforts by SMC to help the medical sector last year. These included donations of PCR testing machines and testing kits, fully-automated RNA extraction machines, high-flow cannula respiratory machines, temporary quarantine facilities, life insurance for frontliners, personal protective equipment, disinfecting alcohol, and free fuel for shuttle services.

“Even while our medical frontliners have already started receiving the vaccines, the threat of Covid-19 persists. It really falls on our collective shoulders to reduce the strain on our medical frontliners and workers. We can all do our part and contribute.

For us, it is through this program, and through our other initiatives, that aim to keep our employees safe. Each of us can help out, just by following health protocols,” Ang said.

P1B for vaccines SINCE the pandemic, SMC has put in place many measures to take care of its own employees to help unburden the medical system.

These include the strict implementation of health protocols and limited work place hours, regular testing of employees through its own RT-PCR laboratory, and recently, its setting aside of P1 billion to purchase vaccines for SMC’s 70,000-strong workforce.

“While we wait for the life-saving vaccines to arrive for the rest of the population in the coming months, we need to be very vigilant in protecting ourselves and preventing an even bigger surge in cases,” Ang said.

“These safety measures, which we all know by now—wearing of masks, face shields, washing of hands, keeping social distance— are keys to limiting the spread of the disease and in keeping all of us healthy and safe,” he said.

We need more Angs, please?

PEE STOP

Campi says Toyota is No. 1 in total units sold with 23,894 in February, with Mitsubishi a far second at 8,590 and Nissan third at 3,640. From 4th to 10th are Ford with 3,489, Suzuki 3,069, Honda 2,487, Hyundai 2,417, Isuzu 2,069, Geely 780 and Kia 648. Happy Easter!