BusinessMirror April 07, 2021

IMF hikes PHL growth forecast to 6.9% this year

By Bianca Cuaresma @BcuaresmaBM

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HE International Monetary Fund (IMF) forecasted a strong recovery for the Philippines for this year and sustained growth through 2022.

In its latest World Economic Outlook (WEO), the global monetary authority said the Philippines is likely to grow by 6.9 percent for this year, up from the contraction of 9.5 percent in 2020.

The new forecast is an upward revision from the 6.6-percent IMF forecast for the Philippines’s 2021 gross domestic product (GDP) growth.

For next year, the IMF kept its 6.5-percent projection for the country’s growth.

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B a sed on t he l atest W EO projections, the IMF sees the Philippines leading the growth among the five major economies in Southeast Asia (Asean-5).

Fol low ing the Phi lippines’ 6.9-percent projection is Vietnam and Malaysia, which are both projected to grow at 6.5 percent this year. This is followed by the IMF’s expected growth for Indonesia at 4.3 -percent growth and then Thailand’s 2.6-percent growth.

The improved forecast for the Philippine economy parallels IMF’s better view of the world economy.

The IMF adjusted its global growth projection to 6 percent, up from the 5.5-percent forecast in January due mainly to significant improvements in the two largest economies of the world—US and

China—along with prospects of a continued vaccination roll out.

For consumer prices, IMF forecasts a 3.6-percent growth in 2021 before receding to 3 percent in 2022. The government’s target range for inflation is 2 to 4 percent.

Earlier, the BSP adjusted its own inflation projection to 4.2 percent on supply-side shocks.

For the country’s unemployment rate, the IMF forecasts 7.4 percent—a significant improvement to the 10.4-percent actual unemployment rate in 2020. The IMF expects this to continue improving until 2022 with a forecast of 6.3 percent unemployment.

Earlier, Fitch Solutions slashed its 2021 Philippine growth forecast from 7.6 percent down to 5.8 percent, with risks “very much tilted

to the downside.”

“We expect the lockdown measures to be extended given the continued surge in cases and the prolonged impact on hospital capacity,” Fitch Solutions said.

“The likelihood of further outbreaks in other regions remains high and given the slow vaccination rollout in the country as less than 1 percent of the population has been vaccinated as of endMarch, we believe the Philippines’ recovery will continue to be hampered by the pandemic,” it added.

Moody’s Analytics—the research arm of Moody’s Group— also earlier said the Philippines “stands out as the laggard” in the region as it faces a surge of new infections and fresh lockdown measures.

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DOMINGUEZ SEES ’21 GROWTH NIPPED BY LOCKDOWN EFFECTS

By Bernadette D. Nicolas @BNicolasBM

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NOT ENOUGH ROOMS A patient of the Amang Rodriguez Memorial

Medical Center in Marikina City passes in front of the hospital lobby turned into an emergency room. The Philippine College of Physicians is now calling for the conversion of hotels into isolation units for patients as rising cases of Covid-19 continue to overwhelm hospitals in Metro Manila. NONOY LACZA

By Cai U. Ordinario

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@caiordinario

HE value of P100 continued to shrink in the first quarter, with the poorest households shelling out more for basic goods and services, the March inflation data released by the Philippine Statistics Authority (PSA) on Tuesday indicated.

Continued on A2

PESO exchange rates

March inflation dip affirms current policy stance–BSP

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HE slight dip in the countr y’s inf lation numbers in March af f ir med the Bangko Sentral ng Pilipinas continued accommodative stance to support the ailing economy, the BSP governor said on Tuesday.

In his statement after the Philippine Statistics Authority (PSA) announced the 4.5-percent March inflation, BSP Governor

Benjamin Diokno said the latest outturn is consistent with their initial expectations. “ The Monetar y Board is of the view that prevailing monetar y polic y settings remain appropriate to support the gover nment’s broader effor ts to facilitate the recover y of the economy,” Diokno said.

INANCE Secretary Carlos G. Dominguez III said he expects the country’s economic growth this year to be lower than expected as the government had to reimpose lockdowns in Metro Manila and surrounding areas due to the recent surge in Covid-19 infections.

Dominguez said in an interview with Bloomberg on Tuesday that the lockdown would dent the Philippines’s GDP growth by “one-half of 1 percent.”

“Well, I think it’s going to be lower than what we expected. This surge in the contagion which is incidentally happening in Brazil, Canada, France, and Turkey and other places, is certainly not good for the economy,” Dominguez said.

“However, we just want to emphasize that our death rate is much, much lower than other Western countries. We only have I think 12 deaths per 100,000, and other countries have over 150 deaths per 100,000. We are coping with this surge.

And the best way we thought to do it was to have a curtailment of activities, especially in Metro Manila Area for at least two weeks,” he added.

The National Economic and Development Authority (Neda) on Monday said it estimated t h e t wo - we e k e n h a n c e d c o m m u n i t y quarantine (ECQ) in the National Capital Region Plus would shave off 0.8 percentage points from economic growth this year. Apart from this, Neda said the most stringent quarantine status would result in the loss of 252,000 jobs, income loss of P30 billion, and send 102,000 more Filipinos into poverty.

The Cabinet-level Development Budget Coordination Committee (DBCC) has yet to meet to review the country’s macroeconomic assumptions.

In its December meeting, the DBCC projected the Philippine economy to grow by 6.5 to 7.5 percent this year and 8 to 10 percent in 2022.

S e ve r a l t h i n k t a n k s h a ve a l re a d y d o w n g r a d e d t h e i r 2 0 2 1 G D P g ro w t h

forecasts for the Philippine economy.

Because the country resorted to strict lockdowns last year to curb the rise of Covid-19 cases, the Philippine economy plunged by 9.5 percent, its worst performance on record since 1946.

Dollar bonds

M eanwhi l e , Dominguez also said the government is planning to sell dollar bonds “before rates skyrocket.”

Last week, the Philippine government raised 55 billion yen ($500 million or P24 billion) from its sale of three-year zero-coupon Samurai bonds.

The government aims to borrow P3 trillion this year.

In the same interview, Dominguez also said they have no plans to increase the national government’s borrowing from Bangko Sentral ng Pilipinas.

The finance chief said his department is already working on how to wind down the country’s debt, but reiterated they currently have no plans to introduce new tax measures.

“Although I must confess that yesterday I talked to our staff and I said, you know, we have to start thinking of winding down this debt, and by sometime next year, and we have to look at potential revenue sources.

So...they’re working on it right now,” he said.

Dominguez earlier said they expect the national government’s debt this year to reach 57 percent of GDP. As of end-2020, the countr y’s debt to GDP ratio surged to 54.5 percent—a 14-year-high—coming from a record-low 39.6 percent.

For this year, the government projects the budget deficit to rise to P1.78 trillion or 8.9 percent of GDP as expenditures are still expected to outpace revenues. Last year, fullyear budget deficit soared to a new recordhigh at P1.37 trillion, marking the first time since 1986 that it breached a trillion mark.

See “Inflation,” A2

n US 48.5560 n japan 0.4408 n UK 67.5463 n HK 6.2444 n CHINA 7.3934 n singapore 36.1980 n australia 37.1405 n EU 57.3738 n SAUDI arabia 12.9486

Source: BSP (6 April 2021)

BusinessMirror

Wednesday, April 7, 2021

A2

March inflation slows, but still impacts poor Continued from A1 PSA data showed that in the first quarter, the poorest households shelled out P132 for goods and services worth P100 in 2012. For all households, the average increase in expenditure was at P28 for every P100.

Inflation in the first quarter averaged 4.5 percent, higher than last year’s 2.7 percent. The March inflation print reached 4.5 percent, slower than February’s 4.7 percent, but higher than last year’s 2.5 percent. “[For all income households] yung P100 na nabibili mo nung 2012, P128 na ngayon ang halaga [goods and services you can buy for P100 in 2012 now cost P128]. So you need an additional P28,” PSA Price Statistics Division Chief Elena G. Varona said in a phone interview with the BusinessMirror on Tuesday.

Inflation for the poorest 30 percent of households averaged 5.5 percent in March, the same rate in February 2021 but higher than the 2.4 percent posted in March 2020.

In the first quarter, the average inflation experienced by the poorest Filipinos was at 5.3 percent, higher than the 2.3 percent posted in the Januaryto-March period last year.

Poverty The increase in inflation and the decline in the value of the purchasing power of the peso will ultimately impact the poverty threshold for this year.

National Statistician Claire Dennis S. Mapa told the BusinessMirror that this will likely increase the poverty threshold. A higher threshold may mean more Filipinos could live below the poverty line.

The Family Income and Expenditure Survey (FIES) will be conducted this year.

The FIES, used to compute poverty incidence, is conducted every three years.

The PSA defined the poverty threshold as “the minimum income/expenditure required for a family/individual to meet the basic food and non-food requirements.”

“It will have an impact on the poverty threshold [PT]. The PT will increase, because of relatively higher inflation—particularly on food items—just like what we saw in 2018,” Mapa said. “The other variable that will influence poverty incidence is the increase in household income.”

In an e-mail to the BusinessMirror, Ateneo de Manila University Department of Economics Associate Professor Geoffrey M. Ducanes said higher inflation, particularly food inflation, will raise the country’s poverty threshold.

The weight of food in the basket of goods used to compute inflation experienced by the poorest 30 percent, as previously explained by Mapa, is 70 percent against 39 percent for all the households.

Ducanes said this may explain why the Bottom 30 percent of households experienced a much higher inflation at 5.3 percent in the first quarter.

“From 2015 to 2018, the poverty threshold, on average, rose by 13.5 percent even as inflation during the 3-year period was only 9.6 percent. Perhaps something similar can be expected from 2018 to 2021,” Ducanes said.

Based on their poverty simulation model, should the current trend continue, some 225,000 households or about a million individuals will join the ranks of the poor this year, Ducanes said.

Their simulation model estimates that every percentage point increase in food inflation above normal, pegged at around 3 percent annually, will lead to an increase in household poverty incidence of 0.3 percentage points.

Continued on A6

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With no NG boost, Owwa may soon touch members’ trust fund

By Bernadette D. Nicolas @BNicolasBM & Samuel P. Medenilla @sam_medenilla

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ITH no additional funding coming from the national government until now, the Overseas Workers Welfare Administration (Owwa) may soon tap its trust fund to continue providing quarantine accommodations for overseas Filipino workers (OFW).

Ow wa Administrator Hans Cacdac said this will affect the implementation of their planned programs for the thousands of repatriated OFWs this year.

“We will have to use our P2.6 billion fund budget for 2021, to be used mostly for livelihood, sc hol a rsh ips a nd ot her soc i a l benefits programs. The use of the Ow wa trust fund for hotels etc.,

will be an added expense [under the trust fund],” Cacdac told the BusinessMirror in an SMS. Owwa asked for over P9 billion last month from the Department of Budget and Management (DBM) to augment its P6-billion budget for accommodations this year. It is now nearly depleted after the government implemented a five-day rule before any inbound passenger

is tested for Covid-19, resulting in extended hotel stays for OFWs, from just two days to over a week.

The policy was based on the premise that Covid does not immediately manifest in an infected person, so if a returning OFW is tested right after flight, he may test negative, and then be released to his final destination, infecting others.

Cur rent ly, Cacdac said they only have P2 billion left for OFW accommodations.

Alternative measures

Instead of granting Ow wa’s budget request, DBM suggested that Owwa should “maximize” its trust fund to provide quarantine accommodation to OFWs. Budget Assistant Secretary and spokesman Rolando Toledo told the BusinessMirror the Owwa still has an over P18-billion balance left in its fund as of end-January this year.

“The DBM recommends that the agency maximizes its available allotment for FY 2021, as well as assess and consider the utilization of its Owwa Fund. As of January 31,

2021, the Owwa fund has a balance of P18.362 billion and can be used by the agency to finance its core programs and services,” Toledo said in a message.

Cacdac said he is open to DBM’s recommendation, although he said he would have preferred that the Owwa trust fund, which is sourced from $25 membership fees, be used to give “more social benefits—or money straight into the hands of OFWs—in contrast to giving money to hotels, food caterers, and airlines or bus companies.”

Meanwhile, he hopes the Inter-A genc y Task Force for the Management of Emerging Infectious Diseases (IATF) will adjust its quarantine protocols, as this may reduce the accommodation expenses of Ow wa.

Cacdac did not elaborate on the said “measures,” but he noted it is “not necessarily to shorten the 5-day rule.”

Last Sunday, Owwa reported over 500,000 OFWs were already repatriated in the country.

Another 49,698 are scheduled to be repatriated in the coming weeks.

Inflation. . .

Continued from A1

“At the same time, the Monetar y Board emphasizes that the timely implementation of nonmonetary interventions is crucial in mitigating the impact of supply side pressures on inflation and thereby preventing them from spilling over as second round effects,” it added.

In its March monetary policy meeting, the BSP Monetary Board decided to maintain their accommodative stance, of a record-low interest of 2 percent, despite inflation expectations rising above the 2- to 4-percent target range for the year.

ING Bank economist Nicholas Mapa said they still expect the BSP to continue its accommodative monetary policy stance despite the rising inflation to support the economy.

“We expect BSP to keep policy rates at 2 percent in order to bolster the economic recovery with several regions now under strict lockdown due to a recent spike in new Covid-19 infections.

BSP will only consider recalibrating monetary policy should second-round effects such as wage hikes become apparent or if inflation expectations become disanchored,” Mapa said.

Despite this, the BSP chief expressed readiness to take monetary policy action once inflation pressures get out of hand.

“The BSP will remain watchful for any signs of inflation becoming broader based. The BSP is prepared to take immediate measures as appropriate to ensure that the monetary policy stance continues to support the BSP’s price and financial stability objectives,” the governor said on Tuesday.

Looking ahead, Diokno also said the balance of risks to the inflation outlook remains broadly balanced around the baseline path in 2021, while leaning toward the downside in 2022.

“Tighter domestic supply of meat products and improved global economic activity could lend further upward pressures on inflation. However, the ongoing pandemic also continues to pose downside risks to the inflation outlook, as the recent surge in virus infections and challenges over mass vaccination programs continue to temper prospects for domestic demand,” Diokno said.

Bianca Cuaresma

TUGADE FUMES OVER ‘COVID-19 SMUGGLING’ IN LUZON

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HE Department of Transportation (DOTr) branded the illegal commercial operations of various transport vehicles as “Covid-19 smuggling,” blaming them for the continued spread of the disease that has claimed the lives of tens of thousands of Filipinos.

Transportation Secretary Arthur P. Tugade called these operations “Covid-19 smuggling” after he saw a video of a truck that transported people reportedly from North Luzon to Metro Manila. As seen on the video, the people are huddled and many of them were not wearing any protective gear.

A man was then heard thanking the truck driver for transporting the people inside. The video then showed people being instructed to board unmarked commuter vans that will take them to cities inside Metro Manila.

Tugade said he was informed that closed

Special. . .

Continued from A10

The most important stimulus is vaccination, because it will help people return to their jobs, and help businesses return to normal demand. A big stimulus without fast vaccination is less effective than stimulus plus quick vaccination,” he added.

Salceda said financial assistance encourages compliance because people are less likely to break quarantine protocols when they have income security, while mass testing allows people not to choose between food and getting tested.

Drilon prods Duterte

Earlier on Tuesday, Senate Minority Leader Franklin Drilon prodded Duterte to ask Congress leaders to cut short their scheduled two-month recess, and convene a special session to quickly pass an enabling law for Bayanihan 3.

Timely enactment of the remedial legislation will “give emergency cash subsidies to vulnerable households and beef up the government’s dwindling pandemic war chest,” Drilon said.

Drilon expects a special session of Congress to quickly pass the proposed Bayanihan 3 and expand the government’s cash subsidy program amid the spike in Covid cases, adding that “after all, it is the ineptitude of the Department of Health and the IATF which brought us to this situation,” referring to the Inter-Agency Task Force on Managing Emerging Infectious Diseases.

In a statement, Drilon deplored it as “the longest lockdown in the world” that left 7.6 million families hungry. Likewise, the unemployment rate rose to 17.7 percent, equivalent to around 7.3 million unemployed Filipinos, last April 2020 due to the lockdown.

The opposition lawmaker lamented that “this is the situation that we have to prepare for.”

He recalled airing earlier remedial options government can implement as remedial measures to address the problem, including the “realignment of some items in the General Appropriations Act to boost the pandemic fund.”

Moreover, Drilon suggested tapping the P19-billion antiinsurgency fund and the P9.5 billion for confidential and intelligence funds.

vans and trucks “smuggle” people into the borders of Metro Manila in exchange for cash.

In a statement with expletives, Tugade said, “Sons of bitches, why are they doing this. Don’t they know that they are compromising and putting many people and livelihood at risk?”

He said this is a clear violation of health protocols and must be stopped immediately, calling on concerned agencies such as the Land Transportation Office (LTO), the Land Transportation Franchising and Regulatory Board (LTFRB), the Inter-Agency Council for Traffic (I-ACT), the Philippine National Police Highway Patrol Group (PNP-HPG) to immediately “act with urgency” to prevent a repeat of this activity.

“These things must not be tolerated.

Let’s move strong on this,” he said. “They

are compromising the whole country. Our handwork on testing, isolation and treatment will all be wiped out because of this madness,” Tugade said.

He explained that people who support these activities may become carriers of the virus, as they are all crammed in an illegal vehicle and are untested for the coronavirus disease.

The LTO, for its part, is issuing a show-cause order against the driver or the registered owner of the truck.

In the Greater Metro Manila Area alone, a total of 153 colorum vehicles were apprehended between January and March.

More recently, the DOTr apprehended 12 vehicles in Bicol, with 79 of their passengers testing positive for Covid-19.

Tugade noted that while he understands the reasons behind the need of people

availing these illegal transport services, he said these activities can only do more harm than good.

“I am calling on my fellow Filipinos. Let’s stop patronizing these illegal activities. We are allowed to make a living, but let us not do it by killing another person,” he said.

Tugade also noted that authorized persons outside of residence are allowed to reach Metro Manila through authorized forms of transportation.

Earlier, commuter group The Passenger Forum said the government must review the supply-demand ratio for transport modes during the quarantine period to adequately, efficiently, and safely ferry passengers from one point to another, thus discouraging them from using colorum services in the process.

Lorenz S. Marasigan

PHL logs 382 Covid deaths, but DOH says some were from delayed reports

By Claudeth Mocon-Ciriaco Correspondent

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HE Philippines on Tuesday recorded a total of 382 Covid-19 deaths, the highest number since the pandemic began, but the Department of Health (DOH) traced the high figure to a technical issue with the case collection systems.

This resulted in lower reporting of Covid-19 death counts over the past week, DOH explained.

The issue caused incomplete fatality numbers and data to be encoded and as a result, there were 341 deaths prior to April 2021 that went unreported.

“The number of deaths reported today [382] already includes the said deaths not reported in previous counts,” the DOH said.

“Despite the additional cases, the cumulative case fatality rate for the Philippines remains low at 1.7 percent, and the average deaths per day for March is at 28—comparable to the 27 average deaths per day seen in February and lower than the 32 average deaths per day last January.

There has been no reported spike in the number of deaths anywhere in the country,” the DOH said.

The DOH added that upon learning of the system malfunction, the DOH Epidemiology Bureau’s Covid-19 Surveillance Quick Action Unit “took immediate action.” “ The technical issue has been

resolved, and the Covid-19 dashboard now ref lects the submitted numbers.”

The DOH also assured the public it is continuously working to ensure consistent monitoring and maintenance of its information systems to ensure that they operate correctly.

The DOH also called on disease reporting units, local government units, and health facilities to ensure submission of complete and timely information of cases and deaths which are vital in guiding Covid-19 response strategies and interventions.

9,373 new cases The DOH also logged a total of 9,373 additional cases with 313 recoveries.

The total infections in the country stood at 812,760.

Of the total number of cases, 18.8 percent (152,562) are active cases, 79.5 percent (646,381) have recovered, and 1.70 percent (13,817) have died.

Ten laboratories were not able to submit their data to the Covid-19 Document Repositor y System on April 5, 2021.

Vaccine A member of the vaccine expert panel on Tuesday said that they will recommend to the Department of Health (DOH) that infected persons should no longer wait for 90 days after their recovery before getting the vaccine.

“Gagawa pa lang kami ng [We have yet

to write a] letter to make that recommendation not to wait for the 90 days for [a recovered person] to receive the vaccine,” Dr. Rontgene Solante said in an online Kapihan session.

Under the guidelines from the DOH, individuals who tested positive for Covid-19 should wait for 90 days after they have recovered before they can be vaccinated or get the second dose of the vaccine.

Meanwhile, an infected person who received the first shot of the vaccine shall also receive the second dose 14 days after the person has recovered.

Earlier, Health Undersecretary Maria Rosario Vergeire stressed that evidence shows that the benefits of Covid-19 vaccine “continue to outweigh the risk of severe illness and death from Covid-19.”

“The DOH advises that all eligible priority groups continue to be vaccinated. We recognize that many people are eager to be vaccinated and protect themselves and their loved ones against Covid-19. It is important to honor the priority groups in the rollout of vaccines throughout the country,” Vergeire added.

She also reminded vaccination sites to conduct thorough symptom and exposure screening.

“Potent ia l vacc inees a re a lso called on to be fully transparent when being assessed for history of exposure to Covid-19—this is for your protection,” she added.

PhilHealth. . .

Continued from A10

With the exponential surge in Covid cases prompting a return to the enhanced community quarantine of the National Capital Region Plus Bubble as the health-care system is overwhelmed, Gordon stressed that the total amount due from the PhilHealth would go a long way in sustaining the PRC’s pandemic operations.

Gordon explained that the continued failure of the state health insurer to fully settle its obligations is hurting the PRC’s operations, especially with the humanitarian organization about to set up isolation centers in schools, with beds, showers, bath and food, where asymptomatic spreaders can stay comfortably for the duration of their quarantine period.

He added that asymptomatic spreaders, most of whom are people who go out to work, should be pulled out of their multigeneration households to stop the spread of the virus.

At the same time, the families they left behind will also be provided with sufficient supplies because no one would provide for them while their breadwinner is on quarantine.

“I hope the PhilHealth realizes that the money they are not paying us hurts our operations. They are paying in trickles and we are really having a very, very hard time. It’s hard talking to somebody who will say we will cut it by half in about two weeks. They said that about a month and a half ago and nothing has happened,” he lamented. Claudeth Mocon-Ciriaco

Word war. . .

Continued from A10

I’m cool,” he said, apparently referring to the eight coup attempts during the late Corazon Aquino’s administration, where he used to be the spokesman.

“Just educating the pigheaded on both sides that it is a free world; you can say what you like. Missiles and hull ramming might break your bones—& trigger WW3—but words cannot hurt either side unless you let it by not answering back. It’s a free world after all, Disney sings,” Locsin added.

A Philippine Air Force plane that conducted aerial patrol of the contested waters last week was greeted by a Chinese voice over the radio saying, “This is Chinese Subi Reef. You are approaching a Chinese reef. To avoid any move that may cause misunderstanding, please leave immediately.”

The unidentified Filipino pilot replied: “This is government Philippine aircraft Charlie 2 niner 5 (RPC-295). We are conducting routine maritime patrol over Philippine EEZ. And we are proceeding based on our planned route.”

Locsin, meanwhile, said he met the editor of the Chinese mouthpiece, The Global Times , and had a clear and candid talk with them. While the newspaper “published a faithful report of what we each said,” Locsin said he was puzzled by the editor’s strange comment. “Our plane monitoring the reef is nothing compared to their new fighters. So? Go ahead, make the day,” Locsin said in reaction to this.

The Chinese has squadrons of the J-20 fighter jet, described as “the world’s third operational fifth-generation stealth fighter aircraft,” which are sometimes described as better than the US-made F-22 and a coequal of the F-35.

The Philippine Air Force has sent three of the 12 FA-50 Fighting Eagles to the West Philippine Sea to conduct air patrol. This fighter jet is a lightweight multirole fighter jet developed by Korea Aerospace Industries adapted from its T-50 Golden Eagle training jet.

The Nation BusinessMirror

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ECQ may further delay arguments on anti-terror law

By Joel R. San Juan

@jrsanjuan1573

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HE resolution of the petitions seeking to declare as unconstitutional the Anti-Terrorism Act of 2020 is expected to be further delayed as the Court said it would have to resume the oral arguments on the matter after the lifting of the enhanced community quarantine in the National Capital Regional (NCR).

The SC was supposed to hold the continuation of the oral argument on Tuesday but was canceled for the fifth time as the Supreme Court and other courts in the NCR and its nearby provinces have remained closed due to the surge in Covid-19 cases.

“Oral arguments on the consolidated cases in GR 252578, et al. questioning The Anti-Terrorism Act of 2020 [RA 11479] scheduled for tomorrow [April 6, 2021] is postponed and will resume two weeks after the ECQ is lifted in the NCR,” the SC announced.

The NCR, along with nearby provinces such as Laguna, Bulacan, Cavite and Rizal, were initially placed under ECQ from March 29 until April 4, but because of the continuing high cases of coronavirus 2019 (Covid-19), the government extended the ECQ period in these areas for another week, from April 5 until April 11.

This prompted the Court to extend anew the physical closure of all courts in areas under the ECQ. SC first postponed the oral arguments last February 23, followed by three consecutive postponements on March 9, March 16, and March 23, and the latest is April 6.

Newly appointed Chief Justice Alexander Gesmundo would preside over the continuation of the oral arguments, owing to the retirement of Chief Justice Diosdado Peralta last March 27.

The SC is expected to hear the arguments of the Office of the Solicitor General, the chief government counsel of the government, against the 37 petitions.

PNP calls on witnesses to testify after death of Covid-rule breaker

By Rene Acosta @reneacostaBM

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HE Philippine National Police (PNP) is urging witnesses to come out and help in its ongoing investigation into the case of a curfew violator who died after he was reportedly required by policemen to do a strenuous body exercise in General Trias, Cavite.

Darren Peñaredondo, 28, died on Black Saturday, two days after he was arrested by barangay officials of General Trias, Cavite and turned him over to the police, who allegedly forced him to complete 300 rounds of squats as punishment for violat-

ing quarantine protocols.

The chief of the General Trias police, Lt. Col. Mario Celero, denied Peñaredondo was made to undergo such a physical punishment, saying it was even his men who rushed the victim to the hospital where he died.

“It was the chief of police of Gen. Trias po denying they ever imposed physical exercises on the quarantine violators. We will take his word for that. He even claimed they provided assistance to the victim’s family to bring him to the different hospitals,” PNP spokesman Brig. Gen. Ildebrandi Usana said.

“But if there are witnesses to

the contrary, the PNP in the region will be there to get their side for the conduct of an investigation,” he added.

Usana said there other quarantine violators who were at the police station at what time, and they should know that really happened.

“The truth must come out. After all, there were seven other quarantine violators referred accordingly by the apprehending barangay officials to the Gen. Trias Police,” he said.

“The investigation can get their side one by one to shed light on the case,” he added.

Usana said it was not a policy of the police to impose punishment against

curfew violators, saying warning and fines will suffice.

“Even the CPNP [General Debold Sinas] himself wanted no arrests on ECQ violators, only warning and, or fines,” he said.

Meanwhile, the PNP said that its “Libreng-Sakay” program has served 13,378 stranded passengers since the Metro Manila and its nearby provinces plus were placed under ECQ on March 29.

Sinas said PNP’s heavy lift transport vehicles comprising two buses, five utility trucks, and two coasters alternately make regular round trips to and from designated pick-up and drop-off points within the city.

As supplies allow, Libreng-Sakay also provides face mask, bottled water and useful information materials to passengers, Sinas said.

PNP’s Libreng-Sakay vehicles ply seven regular routes from EdsaCrame to Meycauayan, Bulacan and San Jose del Monte City in the North; Zapote, Bacoor, Cavite in the South; and Rodriguez, Rizal, Antipolo City and Taytay, Rizal in the East.

Sinas said Libreng-Sakay is further complemented by 1,317 PNP mobile assets of the National Capital Region Police Office which has so far logged 2,743 sorties ferrying 11,558 passengers from March 29-April 4.

Velasco to global lawmakers: Let’s address ‘long-standing Davao Region social, economic and health inequalities’ amid pandemic posts high vaccination rate

By Jovee Marie N. Dela Cruz @joveemarie

A

S Covid-19 continues to ravage lives and livelihoods across the globe, the leader of the House of Representatives is urging the international community to take a collective effort to address socioeconomic inequalities further exposed and exacerbated by the pandemic.

In a news statement following the 2021 Global Parliamentary Workshop organized by the Paris-based The Parliamentary Network on the World Bank and International Monetary Fund (IMF) last Monday, House Speaker Lord Allan Velasco underscored the exigency to shift more investments to food security and to establish resilient health systems, provide relevant education and deliver responsive social protection programs.

“The pandemic continues to surface the fact that we are all intercon-

nected. Individuals, communities, and nations form a chain, and we all have the responsibility to assure that our own link is not the weakest in the midst of this global threat,” he said.

Addressing his fellow legislators around the world, Velasco said countries should take this crisis as an opportunity to “finally address long-standing social, economic and health inequalities.”

“As parliamentarians, we have the means to reallocate resources to where they can help our respective populations the most,” Velasco said, as he cited the need to come up with policies that would “benefit the unemployed and the informal sector, and support the marginalized, especially the young, the poor and women.”

“Even as this pandemic severely tests our respective health systems and economies, it can yet be our collective opportunity to harmoniously usher long-needed and wide-

ranging socioeconomic reforms toward a definitive and sustainable path,” Velasco said.

The workshop served as a venue for legislators from all corners of the planet to engage in a dialogue with World Bank and IMF senior management to share lessons learned and strategies looking forward to achieve a sustainable and inclusive Covid-19 recovery and strong country outcomes.

Velasco led the House delegation to the said workshop, which included Ways and Means Committee Chairman Joey S. Salceda, Committee on Banks and Financial Intermediaries Chairman Junie Cua, and Deputy Minority Leader Jose Christopher Belmonte.

Moreover, Velasco said a wholeof-nation approach is necessary to address health and socioeconomic inequalities.

“Effective coordination should be non-negotiable on all levels— local, regional, national, and

BOC seizes ₧3-M ecstasy, kush concealed in parcels

By Recto Mercene @rectomercene

global,” he said.

“Because of our shared goals, it should be easy to promote coalition building, and in so doing smoothly share technologies, exchange manpower, and align financing,” Velasco added.

“This will enable us to respond to both the urgencies of the present time and the projected demands on our health systems and economies, post-pandemic,” he said.

To buttress institutions and earn the trust of the people, Velasco also suggested the use of technology in ensuring up-to-date, useful and reliable information to support government decisions, plans and systems.

“Government must be the beacon of hope and stability during all crises, but especially during the present Covid-19 crisis,” Velasco said.

“Government must inform the people well, pursue restructuring of itself, and utilize resources toward a solid and sustainable economic recovery,” he added.

Whirlwind damages Tacloban City Airport passenger terminal

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HE Bureau of Customs (BOC) on Tuesday reported the seizure of various illegal drugs worth over P3 million in air parcels at different warehouses in Pasay City.

The joint operations yielded 1,681 tablets of ecstasy, a party drug, with an estimated street value of P2,857,700 concealed inside a microwave oven, and 133 grams of kush marijuana estimated to be worth P159,600.

The seized ecstasy and cannabis have been valued at P3,017,300, according to Customs Collector Carmelita “Mimel” Talusan.

Records showed that the ecstasy was shipped from the Netherlands and consigned to a recipient from Quezon City, while the Kush marijuana was shipped from the US and consigned to a certain individual from Pasay City.

Both parcels were turned over to the Philippine Drug Enforcement Agency (PDEA) also on Tuesday.

Editor: Vittorio V. Vitug • Wednesday, April 7, 2021 A3

AIRPORT Customs authorities conduct an inventory of P3 million worth of ecstasy and kush concealed in parcels seized at different warehouses in Pasay City. PHOTO COURTESY OF BOC

HE Tacloban City Airport suffered minor damages when heavy rains and strong winds from a passing whirlwind shattered glass panels and misaligned door hinges on Monday night, April 5, 2021.

According to the Civil Aviation Authority of the Philippines (CAAP) spokesman, Eric Apolonio, “a departing passenger who arrived much earlier for his morning flight suffered a wound in his right foot when he stepped on the shattered glass, and was immediately attended to by an on-duty doctor and nurses.”

Airport operations was not hindered as the Tacloban airport operates from 6 a.m. to 6 p.m. daily.

Apolonio said a portion of the outdoor ceiling was torn down, including part of the roofing sheets that were slightly detached.

In a news statement, Apolonio explained that portable tents were installed at the parking areas after “aircraft airstairs or passengers steps were tripped by the sudden strong whirlwind.”

Apolonio said airport officials and maintenance personnel “immediately conducted clearing operations, taking away the debris and fixing the damage.” Recto Mercene

By Manuel T. Cayon

@awimailbox Mindanao Bureau Chief

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AVAO CITY—Only less than 200 doses have not been administered yet to frontline workers for various individual reasons last week, making this region with one of the highest utilization rate in vaccines distributed last month.

The region received 16,800 Sinovac vaccines and 20,000 AstraZeneca doses and before the month of March closed for the Lenten week last week, three of six provinces posted 100 percent administration of the doses to medical personnel down to the barangay health workers. These were Davao del Sur, Davao Oriental and Davao de Oro, formerly Compostela Valley province.

Others posted almost 100 percent also, Davao del Norte (98.9 percent), Davao Occidental (92 percent) and Davao City (99.8 percent).

Overall for the Davao Region, vaccine utilization reached 99.5 percent, administering 36,634 doses and expected to be consumed this week.

The regional Department of Health here said the local government units maximized the use of their vaccine allocation to post high acceptance rate among the medical personnel.

Meanwhile, the National InterAgency Task Force for the Management of Emerging Infectious Diseases (IATF) has classified Davao City a “low risk” area in its April 3 monitoring and based on two indicators—the low 2-Week Growth Rate (2WGR) and the Average Daily Attack Rate (ADAR).

This new category shows the improvement in the city’s management of the Covid-19 infection. Last week, the city was in the “minimal risk” category, a sharp decline after hovering at the top among the country’s risky areas in February.

“Last week, Davao City was classified as minimum risk, it is now at low risk. This is because we have a negative 8.74 two-week growth rate [2WGR] which is still low but our ADAR reached 1, from .92 last week,” Lopez said.

DOTr report shows over 400 train personnel test positive for coronavirus 2019

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HE Department of Transportation (DOTr) on Tuesday reported that a total of 478 personnel from the four rail lines in Metro Manila have tested positive for the coronavirus disease 2019 (Covid-19).

“In order to ensure the safety and overall well-being of commuters, and to further avert the spread of Covid-19, especially to rail workers, DOTr Secretary Arthur Tugade has ordered for the

mass testing of all railway personnel, based on risk and targeted approach,” the DOTr said in a Facebook post.

So far, 281 out of the 1,185 personnel of the Light Rail Transit Line 1 (LRT 1) have been tested, with 94 confirmed to be infected with Covid-19.

In the Light Rail Transit Line 2 (LRT 2), 592 out of 1,696 have been tested, with 143 infected.

For the Metro Rail Transit Line 3

(MRT 3), 709 out of its 3,284 workers have been tested, with 120 found to be infected.

In the Philippine National Railways (PNR), 586 out of its 1,420 personnel have been tested, with 121 positive for the disease.

Aside from those who tested positive, all rail workers who are still awaiting test results, those identified as close contacts of confirmed cases, and

those showing symptoms of Covid-19 are also isolated and quarantined, the DOTr said.

To date, the MRT 3 is running under limited capacity with 10 to 12 trains deployed, the LRT 2 with five trains, and the LRT 1 with 17 trains.

“Meanwhile, the PNR will resume operations on Friday, 09 April 2021, and will be deploying 10 to12 trains,” the DOTr said.

Those affected by the limited capacity of trains, it said, may also take the additional public utility vehicles deployed by the DOTr road sector along train routes.

“Other initiatives that are still implemented and made available are the Free Ride for Health Workers and Medical Front liners, and the Free Ride for Authorized Persons Outside of their Residences [APOR] on jeepney

routes operating under the LTFRB [Land Transportation Franchising and Regulatory Board] Service Contracting Program,” the DOTr said.

Earlier, the LTFRB announced that all passenger buses under its Service Contracting Program plying the EDSA Busway will provide free rides to all health workers and APORs who can present their work ID beginning Wednesday, April 7. PNA

A4 Wednesday, April 7, 2021 • Editor: Vittorio V. Vitug

Economy BusinessMirror

Mining sector expects to get a ‘passing grade’ on EITI’s transparency validation

By Jonathan L. Mayuga @jonlmayuga

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HE Chamber of Mines of the Philippines (COMP) on Tuesday expressed confidence in hurdling the upcoming Extractive Industries Transparency Initiative (EITI) validation for the Philippines, which began last April 1, 2021.

The second to be conducted since 2017, the validation is the assessment of implementing countries’ capability to meet EITI standards.

The countries will be scored based on three components of the validation process, namely, 1) stakeholder engagement—participation of all stakeholders from government, industry, and civil society 2) transparency—disclosure requirements such as beneficial ownership registry and 3) outcomes and impact—addressing national priorities on natural resource governance.

The final result of the validation is expected to be announced by the EITI Board around the fourth quarter of 2021.

The first validation in 2017 found the Philippines to have made “satisfactory progress,” the first EITI implementing country to achieve such status, COMP said, adding that the industry remains committed to the EITI benchmark, with 95 percent of operating mines filing their reports,

COMP Executive Director Ronald Recidoro told the BusinessMirror.

“The Chamber of Mines of the Philippines looks forward to the validation. We hope to still be at the forefront of this transparency initiative just as we were in 2017 under the old standard,” he said.

In fact, Recidoro said, COMP member-companies, at the least, have been doing transparency reporting on their own even before it became mandatory.

“We have done a lot to move transparency reporting in the Philippines, including reporting on gender, environmental protection, etc., which is only now being made mandatory under the new standard,” he said.

The group Bantay Kita, a civil society representative to the Philippine EITI Multi-Stakeholder Group (PHEITI MSG) sees the validation as an opportunity to further discuss challenges in implementing the EITI and how it can be more relevant both at the national and subnational levels.

“Over the past months, the PHEITI MSG has been working to gather all evidence to show progress in the Philippines. All stakeholders, not only civil society, have contributed to communicating EITI data and initiated outreach activities from local communities to policymakers,” Vincent Lazatin, national coordinator of Bantay Kita, said in

a news statement.

“Stakeholders involved in the validation process would be honest and able to articulate what really is happening on the ground with the transparency initiative of extractive industries in our country. Beyond aiming to be on top, the one of greater value is knowing the real score, the PH-EITI’s actual situation, and how we can perform better,” said Aniceta Baltar, a civil society representative to the PH-EITI MSG. “The validation looks at how it continues to execute its mandate, and at what level it does. It also gauges what positive impacts the initiative were able to bring across to its constituents and stakeholders,” she added.

Pressed for further comment, Recidoro said that COMP, a founding member of PH-EITI, remains committed to participating in the ongoing validation.

He said there are new requirements under the 2019 EITI validation standard such as reporting on gender and environmental expenditures, and the controversial issue of beneficial ownership (BO).

“The PH-EITI has been reporting on gender and environmental expenditure since 2012, so we are ahead of the curve in that regard. We piloted beneficial ownership reporting last year,” Recidoro said.

However, he said, “BO reporting will still need some work.”

“We need SEC [Securities and Exchange Commission] to take the lead on this so that it doesn’t become redundant,” he said.

“There are also concerns about data privacy,” Recidoro added.

He explained that EITI wants companies to disclose details of ownership but he added this is already being done with SEC. Recidoro suggested that a clearcut policy or guidelines from the SEC are needed when it comes to BO reporting.

“Beneficial ownership disclosure is already part of the annual general information sheet [GIS], but the issue now is publication. SEC does not make that beneficial ownership disclosure public because of data privacy concerns,” he explained.

The GIS is an annual submission to the SEC where companies report on their basic corporate data and shareholders, among other information.

Recidoro said companies submit a separate GIS form containing their corporate data every year.

“Since last year, that GIS now has a beneficial ownership report portion.

The GIS is available for download with the SEC, but the BO portion is redacted. Because of data privacy concerns,” he said.

Filminera and PHL Gold win four environmental awards

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HE two firms of the Masbate Gold Project, Filminera Resources Corp. and Phil. Gold Processing & Refining Corp., received four awards in the recently concluded 2020 Presidential Min-

eral Industry Environmental Awards (PMIEA), in the Best Mining Forest and Safest Mine categories.

The PMIEAs are given to mining companies who exhibit best practices in safety and health manage-

www.businessmirror.com.ph

India keen on modern jeepney assembly and electronics in Philippines

By Tyrone Jasper C. Piad @TyronePiad

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NDIA expressed interests in investing in jeepney and electronics manufacturing in the Philippines amid discussions of a preferential trade agreement (PTA), the Department of Trade and Industry (DTI) reported.

In a news statement issued on Tuesday, DTI said Trade Secretary Ramon Lopez and India Ambassador to the Philippines Shambhu Kumaran recently met virtually, where the latter shared India’s plans to venture into mentioned manufacturing opportunities.

India made the statement amid the ongoing public-utility vehicle modernization program by the Department of Transportation. Meanwhile, DTI said earlier it wants to further cement the Philippines’s position in the global value chain of electronics industry.

Kumaran, apart from these, said that India is also keen on studying the geothermal energy sector in the Philippines to further its renewableenergy trade plans.

On the other hand, Lopez pitched the Philippines as a complementary site for India’s production of active pharmaceutical ingredients, vaccines, essential medicines and biologicals.

DTI Export Marketing Bureau Director Senen M. Perlada also asked last year the Indian pharmaceutical firms to make the Philippines their manufacturing hub in Southeast Asia. The trade department said that the country is ideal for manufacturing medicine because of its capacity to produce natural components for drugs.

The trade chief, in addition, shared the market opportunities in data centers and other related information-technology infrastructures, citing the local industry giants that can team up with Indian counterparts.

Lopez discussed with the Indian ambassador as well the recent enactment of the Corporate Recovery and Tax Incentives for Enterprises Act, which effectively slashes corporate income tax. The said measure “offers market potential to Indian manufacturing companies who plan to pursue business in the Philippines,” DTI said.

DTI added that the Philippines can be a “gateway” for India to join the Regional Comprehensive Economic Partnership (RCEP) Agreement. India did not sign the deal before due to unresolved trade concerns.

The PTA between the parties is currently in the pipeline.

During the 13th Meeting of the Joint Working Group on Trade and Investments in September last year, Manila and New Delhi agreed to consider such a deal, committing to expand partnership in agribusiness, electronics, infrastructure, renewable energy and manufacturing, among others.

According to Philippine Statistics Authority, the country’s export to India amounted to $547.98 million last year, which is 0.5 percent higher than $545.45 million in 2019. Meanwhile, imports from India in 2020 fell by 17.3 percent to $1.51 billion from $1.83 billion year-on-year.

Investments approved by the Board of Investments and Philippine Economic Zone Authority from India reached P1.02 billion last year.

149 CamSur ARBs get own land after 27 years

PHOTO shows the Syndicate Waste Dump inside the Masbate Gold Project mine site that was revegetated from 2016 to 2019 with a total rehabilitated area of 42.68 hectares. Cash crops like coffee, cacao, and coconut have been planted in the area as trial species. A 3.29-hectare experimental pineapple plantation was established on the flat portion of the dump to evaluate suitability to post-mining rehabilitation. To date, there have been 81,863 trees and 21,295 pineapples planted.

ment, environmental protection and community development.

Filminera is the recipient of the PMIEA Selection Committee Platinum Achievement Award in Surface Mining Operation Category, the Titanium Achievement Award, Mineral Exploration Category and the winner of the Safest Mineral Exploration - A Category. PHL Gold, on the other hand, received the PMIEA Selection Committee Titanium Achievement Award in the Mineral Processing Category.

Both companies have active programs geared towards the conservation of nature, biological diversity and integrated approaches to land use planning. As a result of these upland and coastal reforestation efforts, the reforested and rehabilitated areas are now home to a diverse range of flora and fauna species. Aside from enhancing biodiversity through their environmental programs, the firms have also spurred social development in the surrounding communities through various livelihood programs.

DENR launches search for climate, disaster resiliency movers, workers

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HE Department of Environment and Natural Resources (DENR) on Tuesday announced the launching of the Mga Kwentong KLIMA-likasan Tungo sa Katatagan: A Climate and Disaster Resiliency Recognition Awards.

“The awards launched through the DENR’s Gender and Development [GAD] Office and Climate-Change Service [CCS] aim to give recognition to Filipino ‘movers and workers’ who have been making change to bolster climate and disaster resiliency,” Environment Secretary Roy A. Cimatu said in a news statement.

“This awards will be a testament of the zeal and passion of all the people who do not merely talk, but labor in the peripherals to bring knowledge

and assistance on climate-change concerns to those who need them most,” Cimatu said.

The awards, which is in support to the Global Good Stories Movement, seek to recognize the stories of individuals, both women and men, and groups on the impacts of climate change and disasters in their communities, and on how they are addressing them through pursuing relevant programs on environmental protection and conservation, climate change, and disaster risk reduction.

The Global Good Stories Movement is a movement of people who share the common belief that “we can change the story of the world by changing the storyline.” Jonathan L. Mayuga

B

ENEFICIARIES of the Comprehensive Agrarian Reform Program (CARP) in Pili, Camarines Sur finally got what they wanted: Occupy their government-awarded lands. But it took them 27 long years to finally start cultivating their so-called CARP land.

The farmers were finally installed by the DAR Camarines Sur II led by agrarian reform chief Maria Gracia R. Sales.

The farmer-beneficiaries have now taken possession of the 81.85-hectare agricultural land in Barangay Cadlan, Pili town after a lifelong administrative and judicial fight with its former owner, the Manubay Agro-Industrial and Development Corp. (MANDECOR), says Sales.

“The final step in the land acquisition and distribution process is the installation of these ARBs on their Comprehensive Agrarian Reform Program [CARP]-awarded lands,” she said.

Sales said Land Tenure Services personnel at the provincial and municipal levels had worked tirelessly for the past 27 years to bring the activity to a successful conclusion.

Under the government’s agrarian reform law, the DAR is mandated to acquire public and private agricultural lands and distribute them to tenants, farmers, farmworkers, or other tillers who meet the qualifications to become ARBs. DAR acquired the land under the CARP in 1994 but pending cases and strong resistance of landowners contributed to the sluggish processes.

“I am extremely proud of all of our employees, including the PNP officers, ARB leaders, and barangay officials, who selflessly assisted in the execution of this important activity. I hope that these ARBs will

become responsible stewards of the lands that have been entrusted to them. I hope that they take good care of their lands and keep them productive,” said Sales.

Sheriff Vincent John Belleza said there are significant risks in implementing the plan because of strong opposition from the landowners, despite the writ of Installation issued by the Provincial Agrarian Reform Adjudication Board (PARAD).

“Fear is a natural reaction in high-risk situations, like this.

However, I feel it is my moral responsibility to ensure that justice is done to the farmer-beneficiaries,” said Belleza.

Municipal Agrarian Reform Program Officer Jemma G. Belaro was overjoyed seeing the farmers finally got their individual land titles and assigned to their respective farms and thanked the DAR personnel who worked hard to ensure the success of the endeavor. Farmer-leader Arturo Bismonte said “The blood and sweat of our forefathers who persevered in tilling and cultivating this soil have stained these lands. That is why we are willing to sacrifice our lives to fulfill our dream of claiming this land as our own.”

“We would like to express our heartfelt gratitude to DAR Camarines Sur II people for sticking with us through the tough years. Their perseverance paid off, and we have witnessed the final stage of the CARP process. We are indeed very happy and grateful to finally come home,” Bismonte added.

The farmers received their certificates of land ownership award (CLOAs) during a formal ceremony at the Pili Covered Court, where they were also told of their obligations and duties as beneficiaries of the government’s agrarian reform program.

Jonathan L. Mayuga

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

The World BusinessMirror

European countries scramble to tamp down Covid-19 surge

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OCHNIA, Poland—European countries scrambled on Monday to tamp down a surge in Covid-19 cases and ramp up vaccinations, hoping to spare hospitals from becoming overwhelmed by the pandemic’s latest deadly wave of infections.

The crush of coronavirus patients has been relentless for hospitals in Poland, where daily new infections hit records of over 35,000 on two recent days and the government ordered new restrictions to prevent large gatherings over the long Easter weekend.

France’s health minister warned that the number of intensive care unit patients could match levels from a year ago.

But in a sign of the disparities from one countr y to the next, Br itish Pr ime Minister Boris Johnson announced that barbers, gyms and outdoor bar and restaurant patios would be able to open next week after the country reported progress with vaccines and its recent lockdown.

Meanwhile, the US vaccination campaign kept accelerating, with 40 percent of the nation’s adult population receiv ing at least one dose.

On Sunday, coronavirus patients filled almost all of the 120 beds at the County Hospital of Bochnia, 40 kilometers (25 miles) east of the southern city of Krakow. One patient, 82-year-old Edward Szumanski, voiced concern that some people still refuse to see the virus that has killed over 2.8 million people worldwide as a threat. About 55,000 of those

deaths have occurred in Poland.

“The disease is certainly there, and it is very serious. Those who have not been through it, those who do not have it in their family, may be deluding themselves, but the reality is different,” he said.

T he more cont a g iou s a nd more aggressive virus variant identif ied in Br itain is f ueling muc h of t he increase in Europe. Meanwhile, voters in many countries are angry at the European Union’s strateg y but also at their own governments’ handling of the pandemic and the failure to prevent repeated spikes in infections.

France’s health minister, Olivier Veran, warned Monday that the number of Covid-19 patients in the country’s intensive care units might match the level of the first crisis a year ago. Speaking on TF1 television, he said the country could approach the ICU saturation levels of April 2020, when French ICUs held more than 7,000 virus patients, many of whom were in temporary facilities because demand far outstripped the country’s prepandemic ICU capacity.

Veran expressed hope that France’s new infections could peak this week thanks to new partial lockdown measures. After

Myanmar’s ruling junta charges celebrities with promoting protests

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ANGON, Myanmar—Myanmar’s ruling junta stepped up its campaign against celebrities who support nationwide protests against its seizure of power, publishing wanted lists in the state press and warning against using their work.

The move follows weeks of escalating violence by security forces in breaking up street protests against the Feb. 1 coup that ousted the elected government of Aung San Suu Kyi. At least 570 protesters and bystanders, including 47 children, have been killed since the takeover, according to the Assistance Association for Political Prisoners, which monitors casualties and arrests and says the true toll is likely higher. The coup reversed the country’s gradual return to democracy after five decades of military rule.

The lists published Sunday and Monday in the Global New Light of Myanmar newspaper include actors, musicians and social media influencers charged with violating Section 505(A) of the Penal Code for “spreading news to affect state stability.”

The penalty for the offense is up to three years’ imprisonment.

A chart filling most of a page lists 20 people, along with photos, hometowns and Facebook pages of each.

Several actors and directors were also charged in February, but the campaign against celebrity protest supporters was stepped up last week when army-controlled Myawaddy TV broadcast a wanted list. There are now at least 60 people on such lists.

May Toe Khine, who describes herself in her Twitter profile as “Full Time Burmese Actress / Part Time Fashion Designer Student,” tweeted after the

TV announcement that her arrest warrant was “for simply doing my job as a civilian: using my platform to speak out the truth.”

“Please always pay attention to news in Myanmar until we win,” she wrote.

What appears to be a leaked document from the Information Ministry advises broadcasters and production agencies of the accusations against people in the fields of literature, film, theater arts, music and journalism. It warns them not to publish or broadcast any of their work or face prosecution themselves.

The April 4 document, which could not be authenticated by The Associated Press, was reported by Khit Thit Media and widely circulated on social media.

Protests continued Monday around the country, but generally on a smaller scale than recently and often in ways intended to avoid confrontations.

On Sunday, an “Easter Egg Strike” was held with eggs painted in support of the protests displayed in public places and online.

In Dawei, a city in southeastern Myanmar that is a stronghold of the protest movement, a short march was accompanied by a motorcycle procession.

In Yangon, the countr y’s biggest city, a memorial march for the dead was held by mourners clad in black. Separately, about 20 people gathered briefly on a city street and burned Chinese flags. Many protesters believe that Beijing backs the military regime with economic and political support, including the threat of a veto at the UN Security Council against international sanctions. AP

Medical workers tend to a patient affected with the Covid-19 in the Amiens Picardie hospital on March 30, in Amiens, north of Paris. European countries scrambled on April 5, to tamp down a surge in Covid-19 cases and ramp up vaccinations, hoping to spare hospitals from becoming overwhelmed by the pandemic’s latest deadly wave of infections. AP/Francois Mori

long resisting calls for a new lockdown, the French government closed schools and shuttered all non-essential stores nationwide and imposed travel restrictions for four weeks.

“We will manage,” Veran said.

The British government announced Monday that all adults and children will be able to have routine coronavirus tests twice a week as a way to stamp out new outbreaks.

The tests are being introduced as Johnson announces the next steps in the country’s road map out of its three-month lockdown.

Britain has recorded almost 127,000 coronavirus deaths, the highest toll in Europe. But both infections and deaths have fallen sharply during the lockdown and since the start of a vaccination campaign that so far has given a first dose to more than 31 million people, or 6 in 10 adults.

Authorities in Ukraine’s capital, Kyiv, introduced tighter lockdown restrictions following a

recent spike in virus cases. All schools in the city of 3 million people will be closed for the next two weeks, and only people with special passes will be allowed on public transport.

“The hospitals are almost full.

The situation is difficult,” Kyiv Mayor Vitali Klitschko said.

Elsewhere, North Macedonia has delayed mass immunization amid vaccine shortages as its hospitals fill up following record new Covid-19 infections and deaths last week.

In Greece, wh ic h is st r uggl ing to emerge f rom a deep recession, most ret a i l stores were a l lowed to reopen Mond ay despite a n ongoing su rge in Cov id-19 infect ions. L oc kdow n measu res have been in force si nce ea rly November, a lt hough shops opened br ief ly a rou nd t he C hr ist mas season.

T he prolonged c losu res pi led pressu re on t he economy.

Serbia also has eased measures

China cautions Japan ahead of PM Suga’s Washington visit

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EIJING—China’s foreign minister has cautioned Japan against teaming up with the US to counter China, ahead of a US-Japan summit next week.

Chinese Foreign Minister Wang Yi told his Japanese counterpart in a phone call Monday evening that their two countries should ensure that bilateral relations “do not get involved in the so-called confrontation between major countries,” a Chinese Foreign Ministry statement said.

It quoted Wang as saying that “China hopes that Japan, as an independent country, will look at China’s development in an objective and rational way, instead of being misled by some countries holding biased view against China.”

Japan, a close US ally that hosts major American naval and air force bases, shares US concerns about China’s military buildup and claims to territory in the South and East China Seas. However, its major trade and investment interests in China have at times reined in its criticism of its larger neighbor.

Japanese Prime Minister Yoshihide Suga travels to Washington to meet President Joe Biden on April 16 in what will be the US leader’s first in-person summit since taking office in January.

Biden, in contrast to his predecessor Donald Trump, has stressed rebuilding ties with European and Asian allies as the US prepares for competition with a rising China.

Japanese Foreign Minister Toshimitsu Motegi raised human rights in China’s Xinjiang region and Hong Kong, both important issues for Biden. He also reiterated Japan’s protest against China’s presence in waters around a group of uninhabited, Japan-controlled islands that China claims in the East China Sea. Wang opposed Japan’s interference in China’s internal affairs in Xinjiang and Hong Kong, the Chinese statement said.

Taiwan is another potential flashpoint, with Suga saying earlier this week that Japan would cooperate with the US on the issue. China regards the self-governing island as a runaway province that should be under Chinese rule.

China, in a signal to the US and its allies, recently sent an aircraft carrier group to waters near Taiwan for training exercises. AP

against the coronavirus despite high numbers of infections and a slowdown in vaccinations. The government on Monday allowed bars and restaurants to ser ve guests outside at reduced capacity and with respect of social distancing rules.

In the US, a top public health official said young people are driving the latest uptick in Covid-19 cases, as the increasing rate of vaccination in older Americans prevents the most serious cases among seniors.

Dr. Rochelle Walensky, the director of the Centers for Disease Control and Prevention, cited the increasing spread of variants as well as a rise in youth sports and extracurricular activities as factors contributing to the steady increase in cases over the last four weeks.

B ut Wa le n s k y p oi nt e d t o positive developments among seniors, who are the most vulnerable age group. Senior virus deaths have fallen to their lowest level since the early fall. More than 75 percent of those age 65 or older nationally have received at least one dose of a Covid-19 vaccine, and nearly 55 percent are fully vaccinated.

“What we’re seeing is both a decrease in emergency department visits as well as hospitalizations associated with that demographic,” she said Monday.

More than 23 percent of all adults in the US are fully vaccinated, according to the CDC. Many states are making vaccines available to younger demographics. Starting Monday, any adult in Florida is eligible to receive the vaccine. In addition, the state announced that 16- and 17-year-olds also could get the vaccine with parental permission. AP

Wednesday, April 7, 2021

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China holds aircraft carrier drills in waters near Taiwan

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EIJING—China is holding naval drills involving an aircraft carrier battlegroup near Taiwan it said were aimed at safeguarding Chinese sovereignty, an apparent allusion to Beijing’s claim to the self-governed island.

The navy said the exercises involving the Liaoning, one of its two aircraft carriers, were routine and assigned under an annual schedule. China has been steadily upping its threat to take control of the island militarily with exercises and routine incursions into the island’s air defense identification zone by Chinese warplanes.

The navy’s statement late Monday did not say when the exercises began or how long they would last, but it said more such drills will be held in the future.

It said the naval exercises aimed to “assist in improving the ability to safeguard national sovereignty, security and development interests,” terms often interpreted as being directed at Taiwan’s democratically elected government, which has refused to give in to Beijing’s demands that it recognize the island as part of Chinese territory.

China operates two aircraft carriers, of which the Liaoning, originally purchased as a hulk from Ukraine, is the first, having been operating in a combat role since at least 2019.

US military officials and observers have recently warned of increased Chinese threats toward Taiwan, which split from the mainland amid civil war in 1949. The US has agreed to recent sales of upgraded warplanes, missiles and other defensive hardware to Taiwan and the island is also revitalizing its own defense industries, particularly by starting a submarine development program.

Japanese Prime Minister Yoshihide Suga on Sunday said Japan will cooperate with the United States to calm rising tensions between China and Taiwan, saying Taiwan’s peace and stability is key to the region.

Suga is set to meet with President Joe Biden in Washington in coming days, the US leader’s first in-person summit since taking office in January. AP

News

BusinessMirror

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Metro Manila ‘Oplan Kalinga’ hotels running at 77% occupancy A

Covid modular hospital, dorm launched at Quezon Institute

By Ma. Stella F. Arnaldo

T

@akosistellaBM Special to the BusinessMirror

WENTY-FOUR hotels in Metro Manila and various parts of the country are available as isolation facilities under government’s Oplan Kalinga program.

In a news statement, the Department of Tourism (DOT) said these 24 hotels in the National Capital Region (NCR), the Cordillera Administrative Region (CAR), Region 4A (Calabarzon), and 11 (Davao) have a total of 2,442 rooms. The bulk of these rooms are in Metro Manila.

Currently, Metro Manila has run out of Covid-19 hospital rooms due to the increasing number of infected cases. According to the Department of Health (DOH), there were 9,373 new Covid-19 cases as of Tuesday, raising the total active cases to 152,562.

Oplan Kalinga facilities, however,

are mostly for mild or asymptomatic cases. Presidential spokesman Harry Roque, for instance, was recently confined at Summit Hotel Greenhills, an Oplan Kalinga facility, when he had a mild bout of Covid-19.

As per a government report on 21 hotels, these Oplan Kalinga hotels are already running an average occupancy of 81 percent, as of April 5, 2021. Metro Manila hotels alone recorded a 77-percent occupancy; these include Astrotel in Novaliches; El Rancho Tunasan in Alabang; Go Hotel in Mandaluyong; Hotel 1010 in Alabang; Manila Prince in Ermita; Nice Hotel Mandaluyong; Nice

in North Edsa, Quezon City; Spiral Novaliches; and Summit Hotel in Greenhills, San Juan.

Of these nine Metro Manila hotels, only 157 rooms remain vacant, while 608 rooms are occupied. There were 50 guest-patients admitted on Monday, while 79 have been discharged.

More hotels have just been added to the Oplan Kalinga program, but were not part of the report yet. These include Red Doorz and Oyo Spring hotels, but a government source could not identify their locations.

According to Roseann Coscolluela Villegas, director for Corporate Public Relations for Robinsons Land Corp., which oversees the Go and Summit Hotels, “It’s the DOH who sends us the patients [for quarantine].” She added their hotels are staffed by doctors and nurses, as well as DOH staff.

No to becoming ‘hospi-tels’

MEANWHILE, an internal survey by the Hotel Sales and Marketing Association Inc. indicated that many of its members were not keen on becom-

ing isolation facilities for Covid-19 patients, or “hospi-tels.”

Of the 120 hotels in its membership, 50 members have voted so far, of which 46, or 92 percent voted “no” to the survey question: “Would your hotel consider to be a ‘hospi-tel’ by accepting mild cases of Covid?”

A large number of its memberhotels have already been accepting guests for limited quarantining purposes upon their arrival in the Philippines, since the pandemic started last year. Under new government guidelines, returning Filipinos, overseas contract workers, and expats are required to book a quarantine hotel for seven days, within which they are supposed to get tested for Covid-19 on the sixth day.

In the United States, many empty hotels have already been converted to hospi-tels in anticipation of the surge in Covid-19 cases, as well as rest spaces for emergency responders and overworked hospitals staff, providing much-needed income for their host cities. These hotels are located in New York, Chicago, San Francisco, Seattle and Baltimore.

110-bed capacity off-site modular hospital extension of the Jose R. Reyes Memorial Medical Center (JRRMMC) at the Quezon Institute was opened on Tuesday to augment Covid-19 dedicated beds amid Metro Manila hospital congestion.

“As we continue to respond to the rising Covid-19 cases, the modular hospitals will provide us, at a faster pace than traditional construction, the additional capacity to treat patients exhibiting moderate symptoms,” Health Secretary Francisco T. Duque III said. The Department of Health (DOH), with the Department of Public Works and Highways (DPWH) led the turnover of the modular hospital that will be under the direct supervision of JRRMMC. Also gracing the turnover ceremony were Sen. Christopher Lawrence “Bong” Go, Public Works Secretary Mark Villar, National Task Force against Covid-19 (NTF) chief implementer and vaccine czar Sec. Carlito Galvez Jr., Testing Czar Secretary Vivencio “Vince” Dizon, PhilHealth CEO Atty. Dante Gierran, Treatment Czar and DOH Undersecretary Leopoldo Vega, DPWH Undersecretary Emil Sadain, DOH Assistant Sec. Elmer Punzalan, DOH Asst. Secretary

Romeo Ong, and Dr. Camilo Roa of Philippine Tuberculosis Society Inc. The modular hospital will also have several medical specialists on regular duty such as infectious disease consultants, pulmonologists, cardiologists, nephrologists, pathologists, radiologists, geriatricians and internists.

Aside from the modular hospital, the facility also has dormitories with kitchen, pantry and laundry room, and can accommodate 64 health-care workers.

Due to alternating work schedules, these dormitories will protect on-duty health workers from further exposure and prevent them from bringing home the virus to their families and loved ones.

During the event, Duque also thanked other government agencies and private organizations in assisting the DOH in its fight against Covid-19.

“We extend our utmost gratitude to the DPWH, this is but one of the many efforts we are doing to continually expand our capacities and address the increasing occupancies in Metro Manila hospitals and in nearby provinces. We also extend our gratitude to the Quezon Institute and to PTSI for accommodating the off-site extension of JRRMMC,” Duque said. Claudeth Mocon-Ciriaco

Govt aims to widen vaccination coverage in urban and economic areas, Galvez says

By Samuel P. Medenilla @sam_medenilla

T

HE government and the private sector aim to finally start the vaccination of economic frontliners and indigents on Labor Day next month once it secures additional Covid-19 doses.

This as the government is now eyeing to achieve “herd immunity” in the country’s urban and economic centers where most of the infections have flared up.

Among the areas to be prioritized in the vaccine deployment are Greater Metro Manila, Calabarzon, Central Luzon, Western Visayas, Zamboanga Peninsula, and some areas in Davao region.

The World Health Organization (WHO) defines “herd immunity” the indirect protection from an infectious disease that happens when a

population is immune either through vaccination or immunity developed through previous infection.

Scheduled arrival

IN an online news briefing on Tuesday, chief implementer of the government’s national policy on Covid-19 Carlito G. Galvez Jr. disclosed they expect an additional 4 million doses of Covid-19 vaccine to be delivered by May in time for the expanded coverage of their inoculation drive.

Among the vaccines that are expected to arrive next month are the 2 million jabs from Sinovac Biotech, 2 million jabs from Gamaleya Research Institute of Epidemiology, and the remaining 104,000 doses from Moderna.

“Just in case all of these [doses] arrive, we could start the vaccination of those, who belong to the A1, A2, A3, as well as A4 and A5 [priority list],” Galvez said.

The government already secured a supply agreement with Sinovac and Moderna in previous months.

Galvez said they are scheduled to finalize their negotiation with Gamaleya this week.

Faster deployment

CURRENTLY, the government is vaccinating workers in frontline health services (A1), senior citizens (A2), and persons with comorbidities (A3) since they have the highest risk from Covid-19 infection.

It has yet to start the immunization of frontline personnel in essential sectors, including uniformed personnel (A4) and the indigent population (A5).

Galvez said he had already instructed the National Immunization Technical Advisory Group (NITAG) to start the vaccination of those belonging to the A4 to A5 groups to fast

Just in case all of these [doses] arrive, we could start the vaccination of those, who belong to the A1, A2, A3, as well as A4 and A5 [priority list].

BM

National Task Force Against Covid-19 chief implementer Secretary Carlito Galvez Jr. track the vaccine deployment in the country.

As of April 5, 2021, the government was able to give the first dose to 781,415 A1 beneficiaries, of which, 28,401 were given their second dose.

Among those who got their second dose are Galvez and Covid-19 Deputy Chief Implementer and testing czar

Vivencio “Vince” Dizon.

The government was also able to inoculate 21,810 A2 beneficiaries and 22,437 A3 beneficiaries.

It is targeting to inoculate 40 million to 70 million people this year.

Supply shortage

AMONG the factors, which had

March inflation slows, but still impacts poor Based on March inflation data, food inflation increased 6.2 percent in March, lower than the 7 percent posted in February but higher than the 2.9 percent posted in March last year.

On average, food inflation in the first quarter was at 6.6 percent in 2021, significantly higher than the 2.3 percent posted in JanuaryMarch 2020.

“Food inflation for the first three quarters is already about 3 percentage points above ‘normal’ at 6 percent, so if this continues to hold, we estimate it to add about 0.9 percentage point to household poverty incidence or about 225,000 new poor households or about a million poor individuals,” Ducanes said.

Wage hike?

Social protection

Priority: ‘Ayuda’

GIVEN the decline in the purchasing power of the peso, Ducanes thinks government must step up by providing cash aid and, where possible, food.

Continuing the Department of Education’s feeding program for young students, by delivering food directly to the home of students or for pick up in schools, would help, he added.

This can also be done through the use of barangay centers, provided that strict protocols and social distancing is observed. The food assistance could be expanded to include medicines and vitamins for poor communities.

INCREASING wages during a pandemic, Ducanes said, would only make matters worse as this could result in layoffs. Many businesses are suffering due to the mobility restrictions in effect in Metro Manila and nearby provinces.

“Higher wages is difficult to implement at this time and maybe counterproductive as businesses are also suffering. It may just lead to more layoffs,” Ducanes said.

“At this time, the government should really take the lead and provide aid to those affected—those who have lost their means of earning income due to the pandemic and the lockdown, especially those who are in immediate danger of going hungry,” he added.

UNIONBANK Chief Economist Ruben Carlo O. Asuncion said the priority now should be to distribute the “ayuda” or assistance efficiently.

While a wage increase may be considered, he agreed with Ducanes that it may do more harm than good.

Asuncion said if a wage increase is mandated, many micro, small, and medium enterprises (MSMEs) would again be placed in a “precarious position” as they are in varying stages of recovery or may be fighting for their survival.

Ultimately, he said inflation is market-driven and would be difficult to control. However, the government should continue working to achieve

food security and stability.

“Enforcement of existing laws pertaining to provision of goods and services should be effective and reliable. Institutions that are in charge of cushioning from higher prices should be correspondingly strengthened and capable,” Asuncion told this newspaper.

Neda: Help on way

FOR his part, Acting Socioeconomic Planning Secretary Karl Kendrick T. Chua told the BusinessMirror that help is on the way for Filipinos.

Chua said the government is providing a P22.9-billion subsidy, and the national budget also provides over P280 billion of subsidies.

Besides, Chua said, inflation will likely fall in the coming months to within the 2-4 percent target range of the Central Bank, as a result of the decline in tariffs on meat, which officials think would increase supply and depress prices. Based on the PSA data, meat inflation reached 20.9 percent in March.

Mapa said the price of pork in the National Capital Region (NCR) averaged P329 per kilo in March, a 59-percent increase from the P207 per kilo recorded in March last year.

Compared to February, when the price of pork averaged P323 per kilo, the increase was slower at 1.8 percent.

In Areas Outside NCR (AONCR), pork prices averaged P312 per kilo in March, a 50-percent increase from the P208 per kilo in the same

period last year.

However, compared to February, there was a 1.6-percent decline in pork prices. The average price of a kilo of pork in these areas was pegged at P317.

“We will see inflation fall within the 2 to 4 percent target as we lower the tariff on meat to increase supply.

We will also ensure unhampered flow of food products,” Chua said.

Despite being outside the Central Bank’s target range of 2.0 to 4.0 percent, the Neda said the lower inflation rate recorded for March is a good indicator of price stabilization and the government expects the succeeding inflation rates to align with targets soon as a result of proactive interventions.

Chua reiterated the government’s commitment to support farmers and producers by providing the necessary assistance and promoting innovative production technologies.

“The President has already proposed to Congress the increase in the minimum access volume of pork. A temporary decrease in pork tariffs is also being considered. These will help lower our inflation rate further and keep it within the government’s targets,” he added.

Chua renewed his call for the public and private sector to take advantage of the digital economy and e-commerce, especially for agricultural products and other basic commodities.

Digital platforms, he stressed, provide benefits to both produc-

slowed down the pace of the vaccination drive, was the existing international shortage of Covid-19 vaccines.

He noted they were initially expecting 4 million doses of Covid-19 vaccines to arrive this month.

However, due to supply woes, this was slashed by half to 2 million.

The trend, Galvez said, is expected to continue until the end of the second quarter of the year.

The delayed shipment of the Covid-19 vaccine, particularly that of the AstraZeneca jabs from the Vaccines Global Access (Covax) facility raised concerns since those who received its initial jab last month will soon need to get their second shot.

The WHO, which coordinates with the Covax Facility, has already committed the next round AstraZeneca vaccine will arrive before the end of the month, according to Galvez.

continued from a2

ers (they can market their goods to more buyers), and consumers (they get more options).

“In managing inflation throughout this crisis, we must innovate and adapt quickly. The government will continue to adopt evidence-based policy actions and seize opportunities to guarantee the Filipino people’s access to affordable, nutritious food and high-quality goods and services,” Chua said.

Inflation nationwide

PSA’S Mapa said the major contributors to inflation in March were higher food and non-alcoholic beverages; transport; and restaurant and miscellaneous goods and services.

Inflation for the food and nonalcoholic beverages index averaged 5.8 percent and accounted for 50.9 percent of the March inflation.

It was driven by meat inflation which averaged 20.9 percent; fish at 4.9 percent; and vegetables at 8.3 percent.

In a statement, Chua said the slower inflation in March 2021 was mainly driven by the decrease in the price indices for major food items.

Inflation eased for vegetables (8.3 percent from 16.7 percent), fruits (3.9 percent from 7.4 percent), and fish (4.9 percent from 5.1 percent).

The supply of vegetables and fruits has risen with better weather conditions and the onset of the harvest season for selected agricultural products.

However, he said the continued supply deficiency in meat, particularly pork, makes it the leading driver of inflation at 20.9 percent from 20.7 percent in the previous month.

For transport, Mapa said inflation averaged 13.8 percent in March which accounted for 25.5 percent of inflation during the month.

This was driven by higher tricycle fares which rose 47.5 percent; petroleum and fuels, 11.9 percent; and jeepney fares, 6.3 percent.

In terms of restaurant and miscellaneous goods and services, inflation reached 3.1 percent and accounted for 8.9 percent of March inflation.

This was driven by meals eaten outside the home which saw an inflation of 3.3 percent; articles for personal hygiene, 2.9 percent; and barbershop services, 10.4 percent.

Meanwhile, data showed that inflation in NCR averaged 3.7 percent in March 2021. This is slower than the 4.1 percent in February 2021 but faster than the 1.7 percent in March last year.

Inflation in AONCR averaged 4.7 percent in March 2021—slower than the 4.8 percent in February but higher than the 2.7 percent in March 2020.

The lowest inf lation among AONCR regions in March 2021 remained in Region 7 (Central Visayas) at 1.5 percent, while the highest was in Region 5 (Bicol region) at 8.0 percent.

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WU, QI Chinese

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ZHU, SHUKE Chinese

CHINESE CUSTOMER SERVICE

RIGHT CHOICE FINANCE CORP. 5e-1 Electra House Bldg. 115-117 Esteban Street San Lorenzo Makati City 166.

SHI, YANNI Chinese

CHINESE CUSTOMER SUPPORT

167.

WANG, XIAOLIN Chinese

CHINESE CUSTOMER SUPPORT

SECURE SMARTER SERVICES INC. Unit A 9/ F Bpi-philam Life Bldg. 6811 Ayala Ave. Bel-air Makati City 168.

LI, MENGJIE Chinese

CHINESE SPEAKING SITE TECHNICIAN

169.

SONG, LIYING Chinese

CHINESE SPEAKING SITE TECHNICIAN

TENMAN PROJECT MANAGEMENT INC. Unit 805-808 The One Executive Office Bldg. #5 West Ave. Nayong Kanluran 1 Quezon City

119.

CAI, KUNTING Chinese

MANDARIN DATA ANALYST

120.

KANG, QI Chinese

MANDARIN MARKETING SPECIALIST

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LAI, YING-SYUN Taiwanese

MANDARIN MARKETING SPECIALIST

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SUN, QI Chinese

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YE, HONGDA Chinese

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CHINESE CUSTOMER SERVICE REPRESENTATIVE

ZHOU, HAN Chinese

MANDARIN OPERATION SPECIALIST

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YANG, JIANBO Chinese

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CHEN, XIUHONG Chinese

MANDARIN OPERATIONS SPECIALIST

126.

WANG, CHAO Chinese

BILINGUAL MARKETING SPECIALIST

85.

CHINESE CUSTOMER SERVICE REPRESENTATIVE

MANDARIN OPERATIONS SPECIALIST

173.

YANG, YANLI Chinese

LI, ZHEN Chinese

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NGUYEN LE NHAT LINH Vietnamese

VIETNAM-SPEAKING CUSTOMER SERVICE OFFICER

86.

CHINESE CUSTOMER SERVICE REPRESENTATIVE

MANDARIN OPERATIONS SPECIALIST

174.

YANG, YUNGUI Chinese

WU, QIHUANG Chinese

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87.

ZHANG, YAO Chinese

GAO, FENG Chinese

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CHINESE CUSTOMER SERVICE REPRESENTATIVE

MANDARIN PROCUREMENT SPECIALIST

88.

ZHANG, GUANGFENG Chinese

WANG, YAN Chinese

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CHINESE CUSTOMER SERVICE REPRESENTATIVE

MANDARIN TECHNICAL SUPPORT

89.

ZHANG, JING Chinese

HUANG, ZHIWEI Chinese

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CHINESE CUSTOMER SERVICE REPRESENTATIVE

LI, ERYAN Chinese

MANDARIN TECHNICAL SUPPORT

34.

CHEN, SHIYAN Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

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LIU, LING Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

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LIU, CHANGXIAO Chinese

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90.

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LUO, QIAN Chinese

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ZHANG, YING Chinese

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ZHENG, YU Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

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XU, QIUYU Chinese

92.

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YAN, KUN Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

ZHENG, XIAORU Chinese

93.

FIRST GREAT COMPUTER TECHNOLOGIES INC. Lot 5 Sta. Agueda Cor. Queensway Pagcor Drive Sto. Niño Parañaque City

Wednesday, April 7, 2021

MOA CLOUDZONE CORP. 4th-11th Flr. Nexgen Tower C4 Rd. Edsa Ext. Brgy. 076 Pasay City

170.

SPOONER, CHRISTOPHER FRANCIS Australian

COMMERCIAL MANAGER

171.

DOWNS, JOHN RUSSELL British

PROJECT DIRECTOR

VENTANAS PHILIPPINES CONSTRUCTION INC. 9/f Philamlife Tower 8767 Paseo De Roxas Bel-air Makati City 172.

NOH, IN HWAN South Korean

PROCESS MANAGER

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

XU RI TRADING CORP. 17/f Unit 1702-1707 Sun Joy Bldg. 525 Lavezares St., 025 Bgy. 271 San Nicolas Manila 175.

ZENG, HUAJIANG Chinese

MARKETING MANAGER

176.

ZENG, GUOYOU Chinese

PURCHASING MANAGER *Date Generated: Apr 6, 2021

132.

CHINESE CUSTOMER SERVICE

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CHI QUAT THANH Vietnamese

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.

133.

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

134.

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ZHOU, LIJUN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

LUU THI QUYET Vietnamese

135.

PENG, XING Chinese

CHINESE CUSTOMER SERVICE

40.

HE, XIAOHU Chinese

MANDARIN CUSTOMER SERVICE

95.

LUONG MANH TIEN Vietnamese

VIETNAMESE CUSTOMER SERVICE REPRESENTATIVE

136.

RONG, DEXIN Chinese

CHINESE CUSTOMER SERVICE

41.

LYU, XINGXUE Chinese

MANDARIN CUSTOMER SERVICE

96.

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VIETNAMESE CUSTOMER SERVICE REPRESENTATIVE

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VONG MY LINH Vietnamese

CHINESE CUSTOMER SERVICE

ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

A7

A8 Wednesday, April 7, 2021 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

The key to a food secure Philippines

A

side from pork and chicken, Filipinos also consider seafood as their favorite source of protein. Local households are partial to a number of fish species including galunggong, tilapia and milkfish, which are used to make popular Filipino dishes.

Citing data from the Philippine Statistics Authority, an advocacy group noted that fish accounts for 66 percent of the 57-kilogram annual per capita protein source of Filipinos (See, “Group pushes aquaculture investments in lakes, dams,” in the BusinessMirror, January 26, 2021).

The spike in the prices of pork and chicken has recently trained the spotlight on the need to further boost the production of seafood items. The Covid-19 pandemic and the outbreak of animal diseases, such as the African swine fever (ASF), increased the demand for seafood as pork and chicken became more expensive. Consumers shifted to seafood because fish and other edible marine animals are still more affordable.

Until and unless ASF is eliminated and pork prices become stable, demand for chicken and seafood would remain robust and would eventually put pressure on domestic supply. The shortfall in pork supply presented market opportunities for fishers and even poultry raisers. However, increasing their output to meet demand would take time, including the resolve of stakeholders to address issues that prevent the fishery subsector from reaching its full potential.

Aquaculture, in particular, can help the country attain fish sufficiency and food security, but there is a dearth of qualified personnel such as aquaculturists who can build and run fish farms (See, “Fishery officials call on youth to seriously consider ‘promising’ career in aquaculture,” in the BusinessMirror, April 1, 2021). Citing data from the Commission on Higher Education, international research center Southeast Asian Fisheries Development Center Aquaculture Department noted that young Filipinos are not keen on a career in agriculture. SEAFDEC/AQD 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.

The Department of Agriculture-Bureau of Fisheries and Aquatic Resources is mandated to build legislated multi-species hatcheries in at least 15 sites around the country. Highly skilled personnel, such as aquaculturists, are needed to operate these hatcheries and grow-out farms, which can help other fish farms produce popular fish species, such as tilapia and bangus. While SEAFDEC/AQD has started training fisheries graduates who can help man the hatcheries, the country would need more people with the right skill set required by fish farms.

Expanding food output amid shrinking resources would require the expertise of graduates of agricultural engineering, plant sciences, food sciences, animal sciences, fisheries, and forestry and natural resources. Enticing the youth to go into agriculture, however, would require more than the scholarship and mentoring programs currently being offered by the government. Policy-makers must also help the sector attract more investments so it could create more jobs, which is the key to a food secure future.

Since 2005

BusinessMirror A broader look at today’s business

SSS and our unsung heroes Aurora C. Ignacio

All About Social Security “Diligence in your daily work to earn a living is the true expression of love and affection for yourself, for your wife, for your child, for your brother, and for your countryman.”—Andres Bonifacio

T

wo days from now we will be commemorating “Araw ng Kagitingan” or the Day of Valor, in remembrance of the Fall of Bataan during World War II when the Japanese soldiers forced 76,000 captured Allied forces (Filipinos and Americans) to march about 120 kilometers to prison camps, where some of our soldiers are left to die along the way.

We are currently experiencing another war where our main enemy remains unseen but has claimed millions of lives of people worldwide. Yes, we have passed the oneyear mark and yet the Covid-19 cases are still increasing in every country.

Whenever I turn on the radio or TV for the news, I hear doctors reminding everybody to stay home and strictly observe health and safety protocols.

But daily life continues despite the pandemic. I see health-care workers, especially doctors and nurses, tak-

Dennis Gorecho

Kuwentong kule

Founder

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Eduardo A. Davad Nonilon G. Reyes D. Edgard A. Cabangon Judge Pedro T. Santiago (Ret.) Benjamin V. Ramos Aldwin Maralit Tolosa Rolando M. Manangan

BusinessMirror is published daily by the Philippine Business Daily Mirror Publishing, Inc., with offices on the 3rd floor of Dominga Building III 2113 Chino Roces Avenue corner De La Rosa Street, Makati City, Philippines.

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while 0.5 million are OFW members).

Nowadays, becoming an SSS member is easy and convenient. You can apply for an SS number online through our web site (www.sss.gov. ph). Moreover, for members who have their own My.SSS account, they can access their SS records anytime and anywhere through our web site or the SSS Mobile App, which can be downloaded from the Google Play Store, App Store, or Huawei AppGallery.

Making sure that you and your family have a pool of financial resources in these difficult times is, in itself, a heroic act. And we at SSS commend our members and pensioners that they were able to provide and take care of their families whatever the circumstances are through our various programs and services.

Just like what Andres Bonifacio wrote in his Decalogue of the Duties of the Sons of the People, earning a living and providing for yourself, your wife, and your family in general is indeed a true expression of love and a heroic act.

Saludo kami sa inyo, mga bayaning Pilipino!

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

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

The growing danger of practicing the legal profession

✝ Ambassador Antonio L. Cabangon Chua Publisher

ing time away from their families to take care of their patients. I also get to meet employees of retail and food establishments walking and biking to their workplaces; street sweepers making sure that public areas remain clean; janitorial staff meticulously cleaning and sanitizing offices; as well as garbage collectors regularly going house to house and picking up trash within the neighborhood.

I have also heard stories of overseas Filipino workers (OFWs) opting to stay overseas just to be able to send money to their families in the Philip-

pines. We all have to make our own sacrifice for this fight that all of us are trying to win.

In situations like these, people— specifically those in the private sector—need to make sure that they have an active SSS membership.

Being a contributing member of the pension fund assures you benefits in times of contingencies such as sickness, maternity, disability, unemployment, retirement, funeral and death.

Aside from the benefits that SSS offers, members are also entitled to various loan privileges such as Salary, Calamity, Educational Assistance, among others. For employed workers, they have an added protection from the Employees’ Compensation Commission where they can also get paid for work-related contingencies such as sickness, disability and death.

Whether you are an employed, self-employed, voluntary or OFW member, you are entitled to all of these since social security is a universal right of every working individual.

Currently, SSS has a membership base of 38.8 million members, of whom 16.2 million are paying members from January to December 2020 (further broken down, there are 12.4 million employed members, 2.5 million voluntary members and 0.8 million self-employed members,

I

T was 1:30 a.m. on April 6, 1999, a Tuesday, when a friend sent a message via my beeper that read: “Dennis, Congrats! You are now officially Atty. Gorecho.”

I was among the lucky 1,465 examinees who passed, or 39.63 percent out of the 3,697 examinees of the 1998 bar exams, which is considered as one of the highest in the bar exam history.

The exams are grouped into eight legal areas: political, labor, criminal, commercial, taxation, civil, remedial and legal ethics and forms.

One has to gain an average of 75 percent with no subject falling below 50 percent, otherwise he will be disqualified.

I failed in my Political law but my final grade was pulled up by my score in Remedial law, which was my highest.

The bar exams is considered one of the toughest and most difficult among the professional board exams, having one of the highest mortality rate.

Passing is obviously not that easy. The discipline in terms of time management and patience is crucial during the review period.

It is also a yearly spectacle on the performance of law schools measured

on the most number of topnotchers or scoring the highest passing rate.

The 1998 bar topnotchers include one from the Baguio Colleges Foundation (now University of the Cordilleras) as the first placer, three from my alma mater University of the Philippines (second,third and fifth ), University of Sto. Thomas (fourth), Ateneo de Manila (sixth, seventh, ninth, 10th) and University of San Carlos (eighth).

I belong to the working student program of UP Law as a reporter for the TODAY broadsheet and other international news agencies. I do my coverage during the day then attend my evening classes. I read my cases in the bus on the way home to Las Piñas from Diliman, always looking for the seat with the strongest headlight.

Former Solicitor General Florin Hilbay was my bar exam buddy who topped the following year’s bar exam with one of the lowest passing rate of 16.59 percent, with three UP Law again in the top 10.

I jokingly tell friends that he became a topnotcher because of my reviewers he borrowed.

Ultimately, being a good lawyer is another thing. Passing the bar is not enough.

There were those who joined law offices for private practice while others joined the government, judiciary, politics or the academe.

I am now connected with a law firm specializing in intellectual property law and seafarers’ rights, among others.

And there’s alternative lawyering.

It is legal practice either individually or through legal resource organizations that work with the poor and marginalized groups, identities and communities toward their empowerment, greater access to justice, and building peace.

Many alternative lawyers are guided by the words of former President Ramon Magsaysay: “Those who have less in life should have more in law.”

Twenty-two years later, the Supreme Court has issued a statement on the killings and threats against judges and lawyers, saying that such actions are “no less than an assault on the Judiciary.”

The statement was released in response to the petition filed by the Free Legal Action Group (FLAG) on the continued attacks on the legal profession citing at least 61 law practitioners killed since 2016 under the Duterte administration.

As the number is higher than all the recorded deadly attacks on lawyers in the last 50 years under six previous presidents, FLAG noted that this is an indicator of the growing danger of

practicing the legal profession in the country. I used to be a FLAG volunteer myself.

Many other lawyers have been redtagged and others surveilled, including some counsels appearing before the Supreme Court in the consolidated cases challenging the Anti-Terror Law of 2020. Some of the human rights advocates and defenders were eventually physically attacked and assaulted.

Critics argued that with Duterte being so “vocal” in expressing his disdain for human rights, it sends “a chilling message” that anyone who demands that their rights be protected “is now considered an enemy of the state.”

The Supreme Court stressed that “to assault the Judiciary is to shake the very bedrock on which the rule of law stands. This cannot be allowed in a civilized society like ours.

This cannot go undenounced on the Court’s watch.”

“In this light, the Court condemns in the strongest sense every instance where a lawyer is threatened or killed, and where a judge is threatened and unfairly labeled. We do not and will not tolerate such acts that only perverse justice, defeat the rule of law, undermine the most basic of constitutional principles, and speculate on the worth of human lives,” the Supreme Court said.

Kule is the monicker of Philippine Collegian, the official student publication of UP Diliman.

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

Opinion BusinessMirror

www.businessmirror.com.ph

The ‘deadly’ trend of using TROs vs product standards Dr. Jesus Lim Arranza

MAKE SENSE

T

here’s this emerging trend of using injunction orders to prevent the Department of Trade and Industry from implementing certain mandatory product standards. In particular, two trial courts have shelved the mandatory standards on flat glass. The DTI has already filed a petition for certiorari against these injunction orders before the Court of Appeals, which is still pending. Just recently also, another case was filed enjoining the DTI from implementing the standards on roofing materials.

Section 9 Article XVI of the 1987 Constitution provides that “the State shall protect consumers from trade malpractices and from substandard or hazardous products, thus, the continuous updating of all existing standards and policies and procedures regarding the mandatory implementation.”

It is a fact that product standards are set for the protection of all consumers, be they rich or poor.

It does not necessarily follow that when you put or improve standards it will increase prices.

Imagine what would happen to consumers who bought substandard GI Sheets, for example. They would have to replace their roofing materials earlier than those who bought quality GI sheets. This means they would have to spend for laborers who would dismantle the damaged GI sheets. After that, they’ll buy new ones and have them installed again. Isn’t that a disservice to the consumers? Factor in the risk to the life of their loved ones and the unnecessary wastes generated.

Do we want to see more substandard GI sheets getting torn and being blown all over the place and hurting people during typhoons? Do we want to see roofing materials caving in because they couldn’t hold the accumulated ashes from volcanoes that erupted?

Do we want to see people getting injured—even fatally—by glasses that broke during an earthquake or typhoon?

We have experienced all these in previous disasters. When do we learn from experience? Have we not noticed that typhoons are becoming stronger, not to mention we are preparing for the so-called Big One? I repeat, we have been practicing the “Duck, Cover, and Hold” drill to perfection, but can the building materials hold?

This is why we need better standards, the implementation of which should not be hindered by court injunctions.

Every time a court would issue a TRO or injunction, there are literally no standards in effect. The DTI and other concerned agencies have no legal basis to conduct market monitoring and check the adherence of importers and manufacturers to established quality metrics.

Can we prevent natural and even man-made calamities from occurring while the courts are still resolving these petitions for injunction filed by traders versus the product standards? Will the calamities wait until we’ve reinstituted the standards?

Obviously, this is becoming a deadly trend. This is why I’m reiterating my call for action from our three branches of government, and I discussed this in the recent Serious and Organized Crime Threat Assessments meeting. I also noted there the injunction order issued against the Department of Finance, which seized boxes of unlicensed cigarettes manufactured inside an economic zone in Pampanga for non-payment of appropriate taxes and violation of labeling provisions.

To speed up the resolution of

these cases, we have to select trial courts, probably two per city, and make them the venues for petitions concerning the implementation of product standards and smuggling.

Being knowledgeable of the nuances of these types of cases, the judges in these trial courts will be able to treat them with urgency and decide immediately. While they can also hear other cases, these courts will specialize in smuggling and product standards.

For Congress, I’m calling on the Oversight Committee of both houses to review the implementation of Consumer Act provisions pertaining to product standards. Perhaps there should be a law preventing the court from issuing injunctions versus product standards because of the supremacy of the welfare of the Filipino consumers.

We need quick action on this matter. While the injunction cases are pending, the market is vulnerable to the deluge of imported substandard products, especially in this time of pandemic when manufacturers and traders in other countries are looking at other economies to offset lost sales on the domestic front.

What’s interesting is when I talked to both importers and local manufacturers, none of them said they were against product standards per se. Of course, nobody would just admit that they do not want to follow quality standards; you’ll lose customers automatically if you do that.

Instead, what the importers complained about were the voluminous reports and documentation that they were being made to produce, causing them delay and higher demurrage, costs that will eventually be passed on to consumers. We also do not want that. We do not want product standards to cause delay and additional costs to both local manufacturers and importers.

Standards are necessary to protect consumers, in the same way competition is also beneficial to consumers.

Though we are for “Buy Pinoy, Buy Local,” there are times, particularly if there are shortages, we also need importation to make the market contestable.

The manufacturers and importers shouldn’t quarrel over this, if they have the noble intention of protecting the consumers. So if the problem is voluminous reporting, bring it to the concerned agencies, like the Anti-Red Tape Authority.

If you file an injunction, you are doing a disservice to the consumers while making the claim that you are for the welfare of the consumers.

Caveat emptor (let the buyer beware) is a thing of the past. The doctrine now is “Consumer is the King.” Anyone disagreeing?

In a country without product standards, how will the consumers be protected?

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

Wednesday, April 7, 2021 A9

Dying, grieving and the pandemic Dr. Carl E. Balita

Entrepreneurs’ Footprints

F

acebook has become an obituary. Many profile pictures have become candles, black ribbons, and black backgrounds for our own relatives, friends and acquaintances. In the past, Covid-19 was statistics we monitor. Now it is a horror movie we cannot dare watch anymore but couldn’t turn off either. The movie is interactive that the terror is knocking on the doors of many while others have it within the household already. The scare is real. And the serial killer is on the loose.

Covid-19 is not synonymous to death. Low at 1.67 percent death rate among all cases, Covid-19 caused 13,435 Filipinos to die from it and 143,726 active cases (as of this writing) and growing. The people who succumb to death are beloved members of an extended family, treasured friends to many, valued members of a community and Filipinos who could be dreaming of a better Philippines in their dying moments. There is no consolation in comparing our statistics with the global norm, because these are still deaths. There is no victory in realizing it kills less as compared with other causes of deaths, because these are still deaths. There is no relief in rationalizing that government is excellent and we are doing something to stop it, because these are still deaths. The fact is that many are dead, more are in critical condition, much more are grieving for their loss and everyone lives scared of an enemy that is so real.

Death is surely a part of life and not opposite it. It completes a cycle of life with a beginning and an end.

But death from Covid-19 is a lonely death enduring painful symptoms— alone—and anticipating cremation, which turns your flesh to ashes to be brought home in an urn. Thank God there are compassionate medical frontliners who could at least hold their hands in empathy during those dying moments. But the dying must be as difficult as the grieving and bereavement experienced by the family that never will have the chance

to care for the dying, to embrace the body to comfort and to console, or even to undergo the normal process of mourning and grieving. And by the way, many Covid-19 deaths were preventable and unnecessary.

Dying, grieving and bereavement go through human processes that are understood and explained by theorists. This is not to intellectualize over and to romanticize the death and dying experiences of many but to explain and describe the phenomenon to bring greater meaning to this inevitable human experience.

A dying person undergoes a journey through denial, anger, bargaining, depression and acceptance as introduced by Kubler-Ross. Denial is the usual psychological defense to anything unpleasant with a response that communicates the message, “no, not me!” A usual diagnosis of a dreaded disease or condition will lead the person, the family or even the medical professional to get a second opinion, take another confirmatory test or simply express doubt over the objective evidence that led to the diagnosis. These behaviors are unconscious to resolve the anxiety and use denial, which is the safest available psychological defense, with prayerful hope that the findings is false and the “bad news” is not true. Once denial fails and the “bad news” is confirmed, anger state asks the question, “why me?” This relieves the tension from within—rationalizing over the person’s unworthiness to be in

Life ends in the same way, but indeed the difference is on how we live and how we will die. As one ends a life in this pandemic experience, those who are left behind should not fear beginning life anew, without those they may have lost.

the situation. Anger is that emotional state of wanting to project the situation on blameable external factors soothing the psychological trauma within. After the anger is exhausted, partial acceptance sets in through bargaining, where the person accepts the reality with wishful thinking and conditional resolve, saying, “yes me but…”. Here is where resolution of conflicts may need to be addressed ahead of the anticipated death. Bargaining lightens the burden of death by fixing what may still be fixed and by creating a more ideal “pre-departure” setting. Realizing the limited time, in anticipation of death, the person becomes more passively responding with depression, which need not be the clinical state, but an emotional sadness to say, “Yes me, I want to be alone.” And this connects to acceptance where the person surrenders to the inevitable and will communicate, “I am ready, my time has come.”

The above theory explains and describes the psychological state of a person in a dying experience.

Grieving or bereavement is a person’s experience of and state of desolation resulting from a loss, not necessarily death. But yes, this applies to the family members and friends who lost someone through death. It also follows a process. Engel’s model enumerates shock and disbelief, developing awareness, restitution, resolving the loss, idealization and outcome. Shock and disbelief is where there may be intellectual acceptance but emotional denial of the loss. Grief is much less traumatic cognitively than emotionally. Developing awareness is where there is consciousness of the reality of the loss. Here is why grieving is derailed in the absence of the cadaver to prove such death.

Restitution is the part of mourning that includes rituals, which actually is not for the dead but for the living.

This is the part that is deprived in Covid-19 deaths because the wake and other rituals are limited, if not prohibited. Resolving the loss is through a focus on the thoughts about the deceased. Idealization represses all negative feelings toward the deceased. Here is why there is sympathy, and not empathy, for the dead because sympathy is subjective and empathy is objective. Every dead person is accorded good memories, or at least forgiven for the bad ones.

And outcome stage happens when the psychological dependence on the deceased is reduced as interest in new relationships and experiences resumes. And life goes on and moves forward.

Mourning is a socially conventional bereavement behavior after a death. We feel this from people around us these days. And we cannot be grateful enough to celebrate of our own safety and life as we bear witness to the many lives others have lost. The grief cycle of shock, protest and disorganization brings us to the challenge of re-organizing lives forward. We all are mourning, grieving and bereaved, and if careless and unlucky could be dying, sooner or later.

Life ends in the same way, but indeed the difference is on how we live and how we will die. As one ends a life in this pandemic experience, those who are left behind should not fear beginning life anew, without those they may have lost. This is because the dead are not dead in those they left behind, unless they are forgotten. It is in the death of many that we value our lives more—and everything essential around it, which this pandemic has defined so well.

The deaths become a reminder that they left us but they were not able to bring with them their material wealth but has left a legacy of how they lived their lives through the footprints they leave behind.

With prayers for the lives we have lost and the life we still are blessed to keep.

For feedback, please send e-mail to drcarlbalita@ yahoo.com.

China tests Biden with South China Sea tactic that misled Obama

By Andreo Calonzo & Philip J. Heijmans Bloomberg Opinion

B

ased on the official view from Beijing, the Philippines has no reason to worry about Chinese fishing boats sitting along a disputed reef in the South China Sea. The vessels— initially numbering in the hundreds—were simply “taking shelter from the wind” and the Philippines should view the situation in a “rational light,” Chinese Foreign Ministry spokeswoman Hua Chunying said on March 22 when the news first broke.

Two weeks later, more than 40 boats are still at Whitsun Reef and the statements are getting more and more terse. The Philippine Foreign Affairs Department on Monday warned China it would issue daily diplomatic protests as long as the “maritime militia” remains in place, using the same language as the US to describe the fleet stationed in an area known as Julian Felipe Reef in the Philippines and Niu’e Jiao in China.

“If your goal is to take over a sea space and atoll without fighting for it, this is a brilliant if dishonest tactic,” said Carl Schuster, a former operations director at US Pacific Command’s Joint Intelligence Center. “Only professional seamen know it’s a lie—no one ‘shelters’ their ships in a storm area weeks ahead of a storm. If they truly are commercial craft, it is costing hundreds if not thousands of dollars a day having them sit idly lashed together.”

All in all, it’s beginning to look more and more like Beijing is probing whether President Joe Biden will take any action after pledging to work with allies in the region to deter Chinese assertiveness. Philippine Foreign Affairs Secretary Teodoro Locsin Jr. has

All in all, it’s beginning to look more and more like Beijing is probing whether President Joe Biden will take any action after pledging to work with allies in the region to deter Chinese assertiveness. Philippine Foreign Affairs Secretary Teodoro Locsin Jr. has blamed the Obama administration for failing to stop China during a similar incident in 2012 at the Scarborough Shoal, a precursor to President Xi Jinping’s move to build military installations throughout the South China Sea.

blamed the Obama administration for failing to stop China during a similar incident in 2012 at the Scarborough Shoal, a precursor to President Xi Jinping’s move to build military installations throughout the South China Sea. “It is a test to see what the administration is willing to do,” said Schuster, who is now an adjunct faculty member of Hawaii Pacific University’s diplomacy and military science program.

“How the US reacts will determine the next test. Right now, everything we have done is more rhetorical than substantive.”

The US last month said it stands by the Philippines while accusing China of using a “maritime militia to intimidate, provoke and threaten other nations.”

Asked about Chinese relations at a press briefing last month, Biden said his administration was “going to hold China accountable to follow the rules” in the South China Sea and elsewhere.

One big problem is how to calibrate the response. China’s use of commercial fishing boats amounts to a “gray zone” tactic that allows Beijing to deny anything is amiss. Sending an aircraft carrier or other warships near the reef risks appearing like an overreaction

that would make the US look like the aggressor.

On the other hand, doing nothing could look weak. Over the past few years the US has stepped up challenges to Chinese sovereignty in the waters, increasing the frequency of so-called freedom of navigation operations around disputed territory. The Biden administration also reaffirmed that the US-Philippine defense treaty covers any attacks in the South China Sea, a clarification made under President Donald Trump that came after decades of official ambiguity. Another major complication for Biden is Philippine leader Rodrigo Duterte, who has undermined the alliance while hailing closer ties with Beijing.

“As long as President Duterte is in power there are very limited options for the Navy,” said Rommel Ong, a retired rear admiral in the Philippine Navy who is now a professor at Ateneo de Manila University’s School of Government. “Bereft of any coherent strategy it is limited to filing diplomatic protests and pronouncements against China’s through social media.”

The Philippine statement on Monday used some of the strongest language yet, saying a 2016 international arbitration award made clear China has no historic rights to fish in the area, which falls within the Southeast Asian country’s exclusive economic zone. It also denounced the Chinese Embassy for criticizing Defense Secretary Delfin Lorenzana, who has said the weather is fine and the boats have no reason to stay. “I am no fool,” he said over the weekend.

‘Irrational emotions’

Duterte’s government was reacting to an April 3 statement by China saying the waters had been “a traditional fishing ground for Chinese fishermen

for many years” and reiterating that it was “completely normal” for the vessels to “take shelter near the reef during rough sea conditions.” China has denied the boats constitute a maritime militia and said it hoped Philippine officials would “avoid any unprofessional remarks which may further fan irrational emotions.” Duterte has so far personally stayed quiet, though his spokesman Harry Roque said his view of the situation hasn’t changed.

“The President’s stand is that we will stand by our rights, but this is not a reason to resort to violence,” Roque said. “He is confident that because of our close friendship with China, we will be able to resolve this.”

Credibility damaged

One factor restraining Duterte from a tougher stance may be the need to secure vaccines: Metro Manila was locked down again last week amid the nation’s worst coronavirus surge. The Philippines currently sources most of its vaccines from China’s Sinovac Biotech Ltd., with Duterte attending a March 29 ceremony in which Chinese Ambassador Huang Zilian said the jabs were testament of a “closer partnership in the new era.”

The US “isn’t so naive” this time around after its failed 2012 effort to strike a deal for a mutual withdrawal at the Scarborough Shoal “caused immense damage to US credibility in Southeast Asia,” said Shahriman Lockman, a senior analyst at the Institute of Strategic and International Studies in Malaysia.

“The Americans are wary of wading into this and not knowing if they’ll end up being blamed for escalating the situation, which is a real possibility with the capricious leadership in Manila,” he said. “A perfunctory response—that’s all that’s available to the Philippines.”

A10 Wednesday, April 7, 2021

Gordon tells PhilHealth: ₧876M due will help many

P

H I L I PP I N E R e d C r o s s chairman and CEO Senator Richard J. Gordon on Tuesday called on the Philippine Health Insurance Corporation (PhilHealth) to pay them the over P876 million that the agency owes to “alleviate the suffering of a greater number of the most vulnerable residents as well as enable [Red Cross] to conduct more Covid tests.”

“I wish PhilHealth would pay us the amount [they owe us] para magamit namin ’yan para matulungan ang mga nangangailangan [we will use that money to help those who are in need]. Hindi naman kami naningil just for the sake of makapaningil [We are not asking them to pay just for the sake of getting paid] but to roll over. Aside from replenishing our testing supplies, at the same time, we are going into this because there is a need to make sure that our people are safe in their homes, that the asymptomatic will be taken out to isolation facilities where they will be taken care of,” Gordon said, referring to the P876,048,574 payment due of PhilHealth as of April 5.

See “PhilHealth,” A2

Special session pitched to approve Bayanihan 3

S

By Jovee Marie N. dela Cruz @joveemarie & Butch Fernandez @butchfBM

PEAKER Lord Allan Velasco on Tuesday backed the call for a special session for the immediate passage of a P420billion stimulus package under the Bayanihan 3.

Velasco, principal author of the Bayanihan 3, said the House is ready to conduct a special session if President Duterte calls for it.

“Right now, the Bayanihan 3 and related bills are already being studied by the Committees on Economic Affairs and on Social Services; by the time the measures are finished at the committee level, we would have resumed session in May,” said Velasco.

The Congress is on recess and is scheduled to resume sessions on May 17, 2021.

“However, if Malacañang certifies the bill as urgent, we will comply,” he added.

Velasco made the statement

after Senate Minority Leader Franklin Drilon urged Duterte to call for a special session of Congress to pass another stimulus package.

Earlier, Velasco said the Department of Finance (DOF) assured the House that efforts are being made to identify funding sources for the P420-billion Bayanihan 3.

The economic managers had reportedly said they were not sure if the third stimulus package would still be necessary if quarantine restrictions were eased further and the economy moves faster.

According to the Speaker, the House is continuously studying the sources of funding for the proposal.

Velasco filed Bayanihan 3 in

February after the passage of the bill extending the validity of Bayanihan 2, and upon seeing further need to allocate additional funds to help the nation cope with the pandemic.

“A third economic stimulus package will provide much-needed lifeline to individuals, families and businesses severely affected by the pandemic,” said Velasco.

For his part, House Committee on Ways and Means Chairman Joey Sarte Salceda, another principal author of the Bayanihan 3, said what the country needs now is lifeline interventions, or ayuda, and mass testing.

“I agree. The Secretary of Finance and I talk on a regular basis on these matters, and the last time we had a conversation, he said he might have a hard time finding the money. That said, my committee will continue to help him find the revenues and improve our collection performance, as we have been doing over the past few weeks,” he said.

“I am fully on board with a third round of stimulus. After all, I am a principal author of the House proposal, and will likely be asked by the Speaker to defend it on the floor.

See “Special,” A2

WORD WAR ON REEF BETTER THAN MISSILES, SAYS LOCSIN

By Recto Mercene @rectomercene

F

OREIGN Affairs Secretary Teodoro L. Locsin Jr., on Tuesday said exchanges of words are better than missiles, referring to the ongoing word war between the Philippines and China over the continued stay of Chinese fishing vessels in Julian Felipe Reef, inside the country’s exclusive economic zone (EEZ).

“We cannot be children in a grown-up world. We and China gotta take as good as we dish out to the other. Growing up is called maturation. If we were eggs we’d start to hatch but some countries are delayed in hatching,” Locsin said on Twitter, as he engaged netizens skeptical of the effect of Manila’s increasingly strong rhetoric against Beijing’s refusal to leave the reef.

Earlier, from over 200 maritime militia vessels—which China insists are fishing boats— only 40 plus were left in the reef, but satellite images shared by the Philippine military showed those that left the reef simply redeployed to other areas in Philippine territory.

On Friday, Defense Secretary Delfin Lorenzana said on Twitter all the Chinese boats should leave the Philippines’s EEZ, and assailed the excuse that these were fishermen

seeking shelter from bad weather. “I am no fool,” Lorenzana said, noting clear weather all throughout.

The Chinese Embassy issued a strongly worded reply on Saturday, taking Lorenzana to task.

On Sunday, Locsin said the DFA would issue a “demarche,” upping the ante on diplomatic protests that his agency had filed but which Beijing just seems to brush off. On Monday, DFA issued a statement warning the embassy to back off from the defense chief, and said “traditional fishing rites” as claimed by China mean nothing because “tradition yields to law,” and in this case, only two things govern: the UN Convention on the Law of the Sea upholding countries’ rights over their EEZ, and the 2016 arbitral ruling favoring Manila over Beijing.

Still, netizens seem impatient over the word war that Lorenzana and Locsin had gotten entangled with, to which Locsin replied on Tuesday: “Then you know what will trigger a resolution possibly also WW3. Sail a public vessel into the flotilla. Line may part, boats depart—or not. I heard a clear-cut commitment from the US side in ongoing VFA talks. Talk’s cheap.

8 coups, biggest mutiny, war in Mindanao.

See “Word war,” A2

www.businessmirror.com.ph

Companies BusinessMirror

Wednesday, April 7, 2021

B1

JFC targets European expansion

F

By VG Cabuag

@villygc

ast-food chain operator Jollibee Foods Corp. (JFC) on Tuesday said it is investing some 50 million pounds (or P3.36 billion) to expand its flagship brand in Europe.

JFC said its stores are starting to get out of its traditional market of mainly Filipinos living abroad. The company has set its sights on more domestic customers by offering local favorites.

The company said it will expand its store network in Europe by 50 stores in the next 5 years as 70 percent of its customers in the United Kingdom are locals. JFC last year opened its stores in Rome, Liverpool and Leicester City to much fanfare despite the pandemic.

This year, Jollibee will open its Europe

flagship location in Leicester Square, London. This will be followed by 7 other store openings, including its first stores in Scotland in Edinburgh, its first in Wales in Cardiff, and its first in Spain in Madrid.

Jollibee’s new stores in Europe have been designed to adapt to changes brought about by the pandemic by including contactless kiosks for speed and safety, and pick-up settings to make take-outs even more convenient.

“The Jollibee Group is dedicated to grow-

ing the Jollibee brand in the UK and across Europe. Investing £50 million demonstrates our commitment to become a major player in the European quick-service industry,” said Dennis Flores, Jollibee Group regional business head for Europe, Middle East, Asia and Australia.

“The pandemic may have been a setback, but it will not deter us from pursuing our vision for Jollibee in the UK and the rest of Europe.”

Jollibee has introduced multiple new menu items that cater to the local market palate, including Asian Slaw, Tropical Burger, Mango Coconut Sundae and Asian Chicken Tender Rice Bowl.

The Jollibee fast-food brand hopes to draw in more local customers through its new and refreshed store design that showcases its Filipino heritage while adapting to the European market.

“We know from our research that the overall dining experience is just as important as the quality of our food. So, while we pride ourselves on our delicious menu, we knew we could do more to enhance the

overall restaurant experience for our UK customers,” William Tan Untiong, Jollibee’s chief real estate officer, said.

“Jollibee is a place of joy across the world, and so the ‘upbeat’ part of our restaurant branding was crucial to get right.

It is lighthearted, fun, and built on the idea of community spirit. Across the business, the customer always comes first, a value we are proud of here in the Philippines and one which guides us in every new market.”

By end-April, Jollibee UK will launch an app that will allow customers to order in advance.

“When restrictions are lifted, we know our customers will want to return to their social lives, and restaurants play a key role in that. We are committed to creating a great place for our customers to spend time with loved ones—something everyone is craving for right now. Simultaneously, we are investing in technologies such as a mobile app for click and collect along with in-store contact-less kiosk options to bring additional convenience to our customers,” the company said.

Philweb incurs ₧60-M loss due to lockdowns G ambling firm Philweb Corp. on Tuesday said it incurred a net loss of P60 million in 2020, steeper than the previous year’s P59.5-million loss, after its gaming sites were shuttered due to quarantine restrictions.

Revenues were cut in half to about P132 milion from last year’s P264.88 million, as a result of the closure of eGames

and eBingo outlets from March 16 last year, and which only began to gradually re-open at reduced capacities starting June 15, 2020. For the fourth quarter alone, the company had revenues of P105 million and a net income of P7 million.

“Philweb has been EBITDA [earnings before interest, taxes, depreciation and amortization] positive since Oc-

tober 2020 and net income since November 2020 despite gaming venues generally averaging 60 percent daily revenues from pre-quarantine levels,” Brian Ng, the company’s president, said.

“Our fourth quarter 2020 results came before Philweb’s acquisition of 16 eBingo venues and two accredited eBingo

machine providers, as well as the revenue contribution of additional eGames sites incrementally converting back to our Electronic Gaming System at the start of 2021. The company is on stable ground and well positioned as we anticipate the return to economic activity in the second half of the year.” VG Cabuag

B2

Companies BusinessMirror

Wednesday, April 7, 2021

Cebu Pacific forges ahead with refleeting program

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By Lorenz S. Marasigan @lorenzmarasigan & Recto L. Mercene @rectomercene

UDGET carrier Cebu Pacific is pushing through with its refleeting program despite the pandemic, taking delivery of a brand new fuelefficient aircraft this month, a move that the airline sees as a worthy initiative for the post-pandemic economy.

Last week, Cebu Pacific (CEB) welcomed the arrival of its new A321 neo (new engine option), the eight out of its 47 narrow-body orders from Airbus.

“Pre-pandemic, we have already started embarking on our long-term vision and fleet strategy, which includes an orderly exit of older aircraft. We envision the total Cebu Pacific fleet to be composed of newgeneration aircraft in the next few years,” Cebu Pacific Deputy CFO Mark Cezar said.

The new airliner has a capacity of 236 seats, 31-percent more than its predecessor. It likewise optimizes fuel usage, allowing

the carrier to save as much as 20 percent in fuel costs, while also reducing carbon footprint by half.

The new jet will be deployed on Friday to serve domestic routes.

Cezar said Cebu Pacific is expecting the delivery of seven more planes this year. It is composed of a “mix of Airbus and ATR” planes.

Most of these planes will be used to replace older aircraft.

Currently, Cebu Pacific has a fleet of 74 airliners: eight A321 neos, 25 Airbus A320s, seven Airbus A321 ceos, five Airbus A320 neos, seven Airbus A330s, six ATR 72-500s, and 13 ATR 72-600s.

PSE entices firms to go public via new rules

By VG Cabuag @villygc

T

he Philippine Stock Exchange Inc. (PSE) on Tuesday released its Amended Listing Rules, which relaxed some of its rules and requirements to encourage more companies to go public.

The rules include relaxed profitability and operating history requirements and a temporary relief clause in considering applications due to the pandemic.

“The Philippine stock market lags behind when it comes to the number of companies going public.

To address this issue, we relaxed certain requirements for listing in both the Main and SME Boards and we introduced a measure that will gauge a company’s suitability for listing despite the challenges it is facing due to the pandemic,” PSE President and CEO Ramon S. Monzon said.

“We are thankful to the Securities and Exchange Commission [SEC] for acknowledging our recommendations to ease some of our listing criteria. With this, we hope

to attract more companies to dip their foot in the water and consider the stock market as their preferred avenue for capital raising.”

To formally apprise key initial public offering (IPO) stakeholders about the Amended Listing Rules, the PSE will hold a 2-part roundtable discussion this April entitled “The Road to IPO.” On April 7, top PSE executives and its listings team will take the lead in the information session to discuss the Amended Listing Rules together with officers of investment houses, sponsors for listing applicants in the Small, Medium, Emerging (SME) Board, and other key members of IPO deal teams.

Aside from the easing of the track record and operating history requirements and the Covid-relief clauses, the amended listing rules now contain Sponsor Model provisions for listing applicant companies in the SME Board.

Under the sponsor model, the applicant’s suitability for listing will be evaluated in the first instance by a listing sponsor accredited by the PSE and if the applicant meets the suitability for listing criteria, after thorough assessment of its financial condition, business viability, future prospects and management track record among others, listing sponsor shall endorse the listing application to the PSE. “The sponsor model has been practiced in other bourses and we see the merit of adopting this in the PSE. This listing format will be beneficial to SMEs and startup companies that have very good profitability and expansion potential but could not tap the stock market for funding because they do not qualify to list based on the set criteria,” Monzon said.

Advisory

Flag carrier Philippine Airlines (PAL) temporarily suspended domestic flights to Region 6 (Western Visayas) from National Capital Region (NCR) Plus as well as from Cebu and Davao from April 6 to April 10 in compliance with government’s Covid-19 regulations.

PAL said the suspension of travel to Region 6 was a directive from the Civil Aeronautics Board (CAB), as requested by the concerned local government units (LGUs) and as endorsed by the Department of the Interior and Local Government (DILG).

PAL has cancelled all flights from Manila to Bacolod, Iloilo, Antique, Caticlan, Kalibo and Roxas cities, until April 10 and also canceled flights from Cebu to Caticlan until April 10.

PAL flights from Iloilo, Bacolod, Roxas and Kalibo to Manila, however, will continue to operate during this period. Its flight from Antique to Manila will operate on April 10.

The airline said flights to and from other regions, including those from Manila, Cebu and Davao, shall continue to operate during the extension of the enhanced commu-

mutual funds

nity quarantine (ECQ) period until April 11, subject to restrictions and requirements imposed by each LGU. Allowed to travel to all other regions within this ECQ period are: health/emergency frontline services personnel; government officials and frontline personnel; duly-authorized humanitarian assistance actors; persons traveling for medical/humanitarian reasons, persons going to the airport for travel abroad; persons crossing zones for work or business permitted in the zone of destination, and going back home; returning or repatriated overseas Filipino worker and other returning overseas Filipinos returning to their places of residence; and locally stranded individuals.

“If you are affected with the cancellations of flights passengers were advice to convert your ticket to a travel voucher until June 30, 2021, avail unlimited rebooking until December 31, 2021 or refund your ticket without penalties,” the airline said.

“This is an evolving situation and we seek your understanding and cooperation as we make adjustments in our operations.”

April 6, 2021

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 208.55 17.42% -8.59% -3.79% -8.22% ATRAM Alpha Opportunity Fund, Inc. -a 1.2934 46.68% -7.39% 1.54% -1.49% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.8634 19.61% -12.85% -5.93% -8.61% Climbs Share Capital Equity Investment Fund Corp. -a 0.7382 23.47% -8.04% n.a.

-8.17% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6699 10.71% n.a. n.a.

-9.67% First Metro Save and Learn Equity Fund,Inc. -a 4.5619 18.07% -6.68% -2.8% -7.68% First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.6599 10.17% -10.36% -7.88% -13.15% MBG Equity Investment Fund, Inc. -a 96.44 39.46% -6.62% n.a.

-5.4% PAMI Equity Index Fund, Inc. -a 42.7928 21.02% -6.71% -2.52% -8.66% Philam Strategic Growth Fund, Inc. -a 448.59 18.25% -6.64% -3.04% -8.26% Philequity Alpha One Fund, Inc. -a,d,5 1.0143 26.5% n.a. n.a.

-7.56% Philequity Dividend Yield Fund, Inc. - 1.0903 19.55% -6.1% -1.88% -6.67% Philequity Fund, Inc. -a 32.0476 19.94% -6.29% -1.5% -7.83% Philequity MSCI Philippine Index Fund, Inc. -a 0.8297 19.3% n.a. n.a.

-9.12% Philequity PSE Index Fund Inc. -a 4.3815 21.64% -6.3% -1.77% -8.55% Philippine Stock Index Fund Corp. -a 732.9 21.85% -6.19% -1.91% -8.58% Soldivo Strategic Growth Fund, Inc. -a 0.6634 20.01% -10.25% -5.37% -7.72% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.3161 17.52% -8.4% -3.28% -8.49% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8376 21.15% -6.53% -2.02% -8.73% United Fund, Inc. -a 3.0758 20.52% -5.75% -0.88% -7.33% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 98.3435 22.01% -5.99% -1.23% -8.56% Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b

$1.2555 50.25% 4.34% 8.48% 4.37% Sun Life Prosperity World Voyager Fund, Inc. -a $1.7033 56.76% 10.8% n.a.

1.82% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.6232 13.96% -2.69% -1.44% -2.72% ATRAM Philippine Balanced Fund, Inc. -a 2.1491 14.51% -3.06% -0.68% -5.96% First Metro Save and Learn Balanced Fund Inc. -a 2.4894 11.47% -2.29% -1.5% -5.24% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1873 6.78% n.a. n.a. -5.69% NCM Mutual Fund of the Phils., Inc. -a 1.8933 9.05% -0.24% 0.59% -3.6% PAMI Horizon Fund, Inc. -a 3.5439 12.8% -1.67% -0.75% -6.45% Philam Fund, Inc. -a 15.8865 12.51% -1.57% -0.7% -6.2% Solidaritas Fund, Inc. -a 1.9914 11.91% -2.5% -0.46% -4.9% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.37 11.49% -4.15% -1.75% -5.69% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9482 12.35% n.a. n.a.

-7.28% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.866 16.27% n.a. n.a.

-8.77% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.8503 17.19% n.a. n.a. -8.87% Sun Life Prosperity Dynamic Fund, Inc. -a 0.8323 14.52% -5.06% -2.38% -6.24% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03794 1.36% 2.37% 1.3% -3.02% PAMI Asia Balanced Fund, Inc. -b $1.1187 28.87% 2.25% 4.66% -2.74% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.5602 40.03% 7.9% 8.15% 1.05% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.1867 21.45% 3.82% n.a.

-1.28% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 369.95 2.6% 3.06% 2.53% -0.3% ATRAM Corporate Bond Fund, Inc. -a 1.9079 -0.51% 0.71% 0.2% 0.4% Cocolife Fixed Income Fund, Inc. -a 3.2176 2.18% 4.05% 4.51% 0.09% Ekklesia Mutual Fund Inc. -a 2.2433 0.33% 2.13% 1.43% -2.3% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4247 2.77% 3.06% 1.72% -1.16% Philam Bond Fund, Inc. -a 4.4449 2.14% 3.92% 1.67% -4.09% Philam Managed Income Fund, Inc. -a,6 1.3151 4.84% 4.18% 2.61% -0.46% Philequity Peso Bond Fund, Inc. -a 3.9524 4.65% 4.24% 2.41% -1.22% Soldivo Bond Fund, Inc. -a 1.0228 6.23% 4.13% 1.66% -1.84% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1656 3.45% 4.57% 2.61% -1.26% Sun Life Prosperity GS Fund, Inc. -a

1.7281 1.82% 3.85% 1.93% -1.53% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $481.74 3.21% 2.85% 2.31% -0.44% ALFM Euro Bond Fund, Inc. -a Є219.52 2.68% 1.04% 1.16% 0.16% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.175 1.28% 1.67% 1.09% -8.23% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0257 0.78% 1.2% 0.88% -3.38% PAMI Global Bond Fund, Inc -b $1.0474 0.15% 0.03% -0.69% -4.15% Philam Dollar Bond Fund, Inc. -a $2.4574 4.61% 3.85% 2.02% -3.08% Philequity Dollar Income Fund Inc. -a $0.0625248 5.57% 3.21% 2.2% 0.33% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1041 -0.05% 1.82% 0.8% -3.71% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 129.87 2.43% 3.19% 2.52% 0.05% First Metro Save and Learn Money Market Fund, Inc. -a 1.0499 1.53% n.a. n.a.

0.17% Sun Life Prosperity Money Market Fund, Inc. -a 1.3011 2.1% 2.9% 2.58% 0.35% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0553 1.49% 1.75% n.a.

0.28% Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 1.206 n.a. n.a. n.a. 6.76% Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $0.99 15.12% n.a. n.a.

1.02% a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. d - in Net Asset Value per Unit (NAVPU).

1 - Launch date is September 28, 2019. 2 - Launch date is November 15, 2019. 3 - Adjusted due to stock dividend issuance last October 9, 2019.

4 - Renaming was approved by the SEC last October 12, 2018 (formerly, One Wealthy Nation Fund, Inc.). 5 - Launch date is December 09, 2019.

6 - Re-classified into a Bond Fund starting February 21, 2020 (Formerly a Money Market Fund). 7 - Launch date is July 6, 2020.

"While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www. pifa.com.ph to see the latest NAVPS/NAVPU."

www.businessmirror.com.ph

PSE STOCK QUOTATIONS

April 6, 2021

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

BDO UNIBANK BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PB BANK PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FIRST ABACUS FERRONOUX HLDG FILIPINO FUND IREMIT MEDCO HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH

101.8 82.9 22.9 9.46 44.7 10.52 22.8 55 17.3 122 69.7 1.65 3.97 0.59 3.1 7.52 1.42 0.385 950 0.75 143

102 83.05 23.05 9.57 44.8 10.92 22.95 55.7 17.5 123 70 1.68 3.99 0.62 3.21 8.66 1.49 0.4 995 0.79 143.8

102 83 23 9.57 45 10.52 23 55 17.94 121.2 70 1.55 3.98 0.62 3.22 7.52 1.35 0.4 970 0.76 141

103.5 83.05 23.1 9.57 45.25 10.92 23.15 56 17.94 123 70 1.7 3.99 0.62 3.22 7.52 1.49 0.4 970 0.79 143.8

101.1 82.1 22.9 9.45 44.7 10.52 22.8 55 17.3 121 69.6 1.55 3.92 0.62 3.1 7.52 1.35 0.4 970 0.73 141

101.8 83.05 23 9.46 44.7 10.92 22.85 55 17.5 123 69.7 1.68 3.99 0.62 3.21 7.52 1.49 0.4 970 0.79 143.8

2,845,770 1,055,000 58,400 281,900 2,185,400 1,100 480,800 1,230 1,300 185,990 49,680 1,357,000 473,000 1,000 10,000 100 9,000 40,000 20 48,000 530

289,886,283 87,511,117 1,343,300 2,682,059 97,961,335 11,612 11,019,770 67,670 22,738 22,652,207 3,461,925 2,236,450 1,873,260 620 32,020 752 12,820 16,000 19,400 36,440 75,994

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 RFM CORP ROXAS HLDG SWIFT FOODS UNIV ROBINA VITARICH VICTORIAS CONCRETE B CEMEX HLDG DAVINCI CAPITAL EAGLE CEMENT EEI CORP HOLCIM MEGAWIDE PHINMA TKC METALS VULCAN INDL CHEMPHIL CROWN ASIA EUROMED LMG CORP MABUHAY VINYL PRYCE CORP CONCEPCION GREENERGY INTEGRATED MICR IONICS PANASONIC SFA SEMICON CIRTEK HLDG

7.48 1.25 24 0.97 30 69.7 276 15.3 3.04 3.85 11.68 20.3 10.58 13.68 7.07 3.46 13.02 18.36 9.1 7.22 10.24 63.5 0.62 1.4 50.8 185 31.95 7.29 5.85 0.36 7.08 1.05 4.63 1.44 0.139 139.7 0.82 2.23 56.3 1.22 3.1 10.76 7.49 5.53 6.66 12.22 1.21 2.43 144.1 1.83 2.05 4.5 4.46 5.2 20.65 3.67 11.6 1.12 5.61 1.34 6.34

7.49 1.26 24.05 0.98 30.15 69.8 276.2 15.4 3.05 3.9 12 20.4 10.6 14.46 7.15 3.47 13.4 18.4 9.12 7.3 10.38 65 0.63 1.43 51.4 185.2 32.6 7.85 5.89 0.37 7.1 1.07 4.75 1.5 0.14 141 0.83 2.3 63.95 1.23 3.11 10.94 7.7 5.65 6.67 12.28 1.22 2.44 192 1.84 2.11 4.65 4.6 5.51 21.15 3.68 11.7 1.13 5.93 1.35 6.35

7.37 1.24 23.9 0.95 30.1 70.95 275 16.08 3.06 3.89 11.5 20.5 10.44 13.76 7 3.48 13.42 18.92 9.08 7.25 10.26 59.95 0.61 1.41 51.4 181.4 32.5 7.27 5.8 0.36 7 1.03 4.6 1.46 0.137 133.8 0.82 2.3 56 1.19 3.12 10.94 7.7 5.65 6.43 12.28 1.16 2.35 192.5 1.84 2.12 4.5 4.58 5.29 20.6 3.64 11.12 1.12 5.92 1.32 6.22

7.49 1.26 24.1 0.99 30.65 70.95 276.8 16.08 3.06 3.9 12 20.5 10.62 14.8 7.16 3.5 13.42 18.94 9.11 7.31 10.38 65 0.63 1.44 51.4 186 32.5 7.85 5.9 0.37 7.1 1.12 4.75 1.5 0.148 141 0.83 2.3 64.95 1.23 3.18 10.96 7.7 5.7 6.69 12.28 1.26 2.47 192.5 1.85 2.12 4.5 4.6 5.29 21.2 3.72 11.6 1.18 5.93 1.38 6.37

7.32 1.23 23.8 0.93 29.9 69.65 274.8 15.12 3.03 3.8 11.5 20.2 10.42 13.68 6.82 3.45 13.02 18.36 9.06 7.18 10.1 59.4 0.61 1.37 50.55 180.8 32.5 7.27 5.8 0.355 7 1.03 4.6 1.44 0.136 133.8 0.81 2.3 56 1.18 2.98 10.7 7.4 5.53 6.43 12.22 1.15 2.3 192.5 1.82 2.09 4.5 4.46 5.2 20.6 3.56 11 1.12 5.92 1.31 6.2

7.48 1.26 24 0.97 30.15 69.75 276 15.4 3.05 3.9 12 20.3 10.58 14.46 7.15 3.47 13.4 18.36 9.11 7.22 10.38 65 0.62 1.43 51.4 185 32.5 7.85 5.89 0.365 7.08 1.05 4.75 1.5 0.14 141 0.83 2.3 59.9 1.23 3.11 10.74 7.49 5.53 6.67 12.28 1.21 2.43 192.5 1.84 2.11 4.5 4.6 5.2 20.65 3.68 11.6 1.13 5.93 1.35 6.34

21,359,300 229,000 683,600 127,949,000 712,500 91,520 93,910 10,018,900 1,300,000 45,000 464,000 134,200 568,200 4,200 9,421,500 795,000 2,500 1,011,200 43,600 1,118,700 169,800 218,140 185,000 7,983,000 101,680 1,056,660 100 4,900 51,000 24,180,000 58,800 4,905,000 10,000 96,000 53,130,000 2,234,210 545,000 5,000 150 3,229,000 5,969,000 9,500 17,000 99,300 1,061,400 32,900 2,554,000 16,634,000 140 236,000 40,000 3,000 9,000 12,900 7,700 24,688,000 547,700 377,000 2,300 1,117,000 1,213,900

-154,992,245 -12,668,660 -837,080 -593,303.00 -70,967,265 -9,202,070 -3,815,617 -2,967,241.50 103,800 -3,100 -9,700 -17,050 53,002

158,729,442 285,020 16,403,140 123,622,620 21,431,145 6,384,286.50 25,906,526 153,684,312 3,960,510 173,950 5,425,994 2,728,705 5,945,322 58,168 65,835,481 2,753,470 33,474 18,671,678 395,989 8,107,122 1,754,014 13,754,490.50 115,010 11,212,660 5,198,580.50 195,711,865 3,250 37,247 298,223 8,805,750 415,968 5,185,280 47,050 140,770 7,630,220 312,068,743 446,740 11,500 8,617.50 3,924,610 18,349,870 103,054 128,499 555,097 7,013,170 403,930 3,107,120 40,030,800 26,950 433,140 83,870 13,500 40,940 67,395 161,625 89,837,110 6,218,414 433,710 13,617 1,494,940 7,670,735

-2,310,260 -5,360,450 978,620 2,752,620 -2,728,481.50 -11,309,212 -10,456,112 -1,277,600 -42,790 -69,175.00 -2,889,312 -63,423 -806,670 13,400 -9,950,718 -3,855,989 -719,083.50 -10,440 4,906,478.50 7,322,866 -34,932 -1,182,150 259,429 1,824,920 1,830 185,476,626 -922,970 293,750 -11,834 -14,886 -18,191 -810,952 -245,600 -154,600 -392,890 -204,940 -662,018 -27,280 -189,310 6,220

HOLDING & FRIMS ABACORE CAPITAL 1.23 1.24 1.2 1.24 1.18 1.24 41,438,000 50,209,690 ASIABEST GROUP 6.91 7.15 7.29 7.29 6.91 7.16 4,000 28,516 AYALA CORP 770 790 750 790 750 790 107,980 83,584,275 ABOITIZ EQUITY 36.05 36.1 35.6 36.25 35.55 36.1 1,574,900 56,758,345 ALLIANCE GLOBAL 11.2 11.28 10.9 11.28 10.86 11.28 9,255,800 102,734,890 AYALA LAND LOG 3.09 3.1 3.03 3.15 3 3.1 2,550,000 7,879,940 ANSCOR 6.44 6.69 6.6 6.7 6.42 6.69 13,800 89,879 ANGLO PHIL HLDG 0.68 0.7 0.71 0.71 0.66 0.7 1,349,000 914,050 ATN HLDG A 0.77 0.78 0.74 0.78 0.73 0.78 6,500,000 4,955,920 ATN HLDG B 0.75 0.77 0.74 0.78 0.73 0.78 474,000 349,600 COSCO CAPITAL 5.19 5.2 5.2 5.21 5.18 5.2 1,154,800 6,005,137 DMCI HLDG 5.6 5.63 5.61 5.65 5.56 5.6 7,879,200 44,233,453 GT CAPITAL 535.5 537 534 538 530 537 62,880 33,698,620 JG SUMMIT 59.9 60.5 60 60.5 59.35 60.5 573,080 34,545,006 LODESTAR 1.09 1.1 1.01 1.1 1 1.1 9,148,000 9,772,400 LOPEZ HLDG 3.28 3.31 3.31 3.32 3.28 3.28 321,000 1,058,100 LT GROUP 13.4 13.9 13.3 13.9 13.28 13.9 563,800 7,644,016 METRO PAC INV 3.92 3.93 3.9 3.96 3.89 3.92 10,302,000 40,319,310 PACIFICA HLDG 3.61 3.64 3.51 3.65 3.51 3.61 10,000 35,930 PRIME MEDIA 3.03 3.04 2.62 3.05 2.62 3.03 15,303,000 44,558,610 SOLID GROUP 1.24 1.25 1.25 1.25 1.25 1.25 11,000 13,750 SYNERGY GRID 336 347 340 348 339 348 150 51,240 SM INVESTMENTS 982.5 992 982 992 972 992 147,280 145,169,925 SAN MIGUEL CORP 117.4 117.5 118.6 118.6 117 117.5 173,320 20,384,013 SOC RESOURCES 0.71 0.72 0.7 0.71 0.7 0.71 25,000 17,700 TOP FRONTIER 132.3 136 136 136 136 136 600 81,600 WELLEX INDUS 0.26 0.27 0.26 0.27 0.255 0.27 4,830,000 1,289,450 ZEUS HLDG 0.198 0.205 0.2 0.206 0.2 0.205 750,000 150,710

-923,950 20,952,760 -39,924,545.00 3,425,678 -53,000 32,200 41,800 -3,105,401 493,918 2,201,855 4,566,191 -451,080 -2,903,676 14,859,630 2,491,810 -13,600 -23,546,610 -4,795,184 20,000

PROPERTY

ARTHALAND CORP ANCHOR LAND AYALA LAND ARANETA PROP AREIT RT BELLE CORP A BROWN CITYLAND DEVT CROWN EQUITIES CEBU HLDG CEB LANDMASTERS CENTURY PROP CYBER BAY DOUBLEDRAGON DDMP RT DM WENCESLAO EMPIRE EAST EVER GOTESCO FILINVEST LAND GLOBAL ESTATE 8990 HLDG PHIL INFRADEV KEPPEL PROP CITY AND LAND MEGAWORLD MRC ALLIED PHIL ESTATES PRIMEX CORP ROBINSONS LAND PHIL REALTY ROCKWELL SHANG PROP STA LUCIA LAND SM PRIME HLDG VISTAMALLS SUNTRUST HOME VISTA LAND

0.66 7.41 34.55 1.21 34.8 1.51 0.86 1.25 0.13 6.56 5.98 0.375 0.32 13.4 2.27 6.88 0.28 0.125 1.13 0.81 7.45 1.44 2.77 2.49 3.63 0.405 0.72 2.58 18.3 0.26 1.55 2.7 2.25 34.95 3.72 1.49 3.75

0.67 8.4 34.6 1.29 34.85 1.53 0.87 1.26 0.131 6.8 5.99 0.385 0.33 13.44 2.28 6.89 0.29 0.127 1.14 0.82 7.47 1.45 3.58 2.5 3.65 0.41 0.73 2.59 18.48 0.27 1.6 2.73 2.3 35 3.8 1.52 3.77

0.64 8.4 34.95 1.33 34.7 1.5 0.87 1.11 0.129 6.56 5.91 0.38 0.32 13.5 2.17 6.86 0.28 0.105 1.14 0.82 7.48 1.43 2.71 2.91 3.63 0.395 0.77 2.83 18.42 0.28 1.65 2.77 2.3 34.75 3.74 1.45 3.79

0.7 8.4 35.05 1.36 35 1.54 0.88 1.35 0.134 6.56 5.98 0.39 0.33 13.58 2.3 6.89 0.285 0.136 1.14 0.82 7.48 1.45 2.71 2.91 3.65 0.41 0.79 2.84 18.48 0.28 1.65 2.77 2.35 35.3 3.78 1.55 3.79

0.64 8.39 34.45 1.18 34.7 1.5 0.85 1.09 0.129 6.56 5.9 0.375 0.32 13.34 2.16 6.82 0.28 0.102 1.12 0.81 7.05 1.43 2.71 2.5 3.6 0.39 0.7 2.4 18.14 0.27 1.53 2.7 2.3 34.7 3.72 1.45 3.75

0.67 8.4 34.6 1.28 34.85 1.51 0.86 1.25 0.131 6.56 5.98 0.385 0.33 13.44 2.28 6.89 0.285 0.127 1.13 0.82 7.45 1.44 2.71 2.5 3.65 0.405 0.73 2.59 18.48 0.27 1.6 2.7 2.31 35 3.78 1.52 3.75

3,205,000 1,100 8,003,500 305,000 702,300 123,000 411,000 28,117,000 9,320,000 200 1,949,900 5,330,000 450,000 759,200 70,012,000 27,900 690,000 147,310,000 22,281,000 178,000 51,500 269,000 1,000 23,004,000 14,255,000 39,500,000 74,587,000 23,042,000 348,200 490,000 1,610,000 99,000 907,000 2,848,400 16,000 363,000 861,000

2,173,510 9,239 276,991,125 396,410 24,463,160 187,780 355,750 33,968,990 1,222,130 1,312 11,613,487 2,022,700 147,050 10,200,126 158,051,150 191,523 194,700 18,836,180 25,232,240 144,750 373,565 387,020 2,710 60,004,610 51,974,330 15,859,450 54,872,960 58,618,720 6,397,062 133,450 2,587,540 268,180 2,103,550 99,738,205 59,780 540,580 3,240,100

-313,800 -133,773,250 -244,755 12,280 -300 -1,508,530 914,528 56,750 -4,548,008 5,621,120 85,450.00 266,570 -10,986,470.00 62,510 -1,450 685,050 -43,756,040 584,100 -363,260 1,868,230.00 -2,457,830 -823,230 -48,955,130 -6,020 -1,708,230

SERVICES ABS CBN 10.9 10.94 10.98 10.98 10.84 10.9 44,000 480,152 GMA NETWORK 8.78 8.79 8.86 8.86 8.77 8.78 1,758,900 15,476,610 MANILA BULLETIN 0.44 0.455 0.435 0.45 0.435 0.45 210,000 93,950 GLOBE TELECOM 1,842 1,850 1,872 1,875 1,841 1,843 31,410 58,133,885 PLDT 1,244 1,245 1,261 1,280 1,233 1,245 101,665 126,376,700 APOLLO GLOBAL 0.213 0.214 0.205 0.217 0.205 0.213 569,890,000 120,943,480 CONVERGE 18.62 18.64 18.42 18.68 18.42 18.62 3,828,900 71,235,000 DFNN INC 3.71 3.8 3.67 3.82 3.67 3.8 87,000 324,490 DITO CME HLDG 11.08 11.1 10.44 11.18 10.42 11.08 51,232,200 555,928,468 IMPERIAL 1.65 1.78 1.78 1.78 1.78 1.78 1,000 1,780 JACKSTONES 2.12 2.17 2.11 2.25 2.11 2.14 344,000 752,440 NOW CORP 2.65 2.68 2.62 2.67 2.62 2.65 1,463,000 3,882,750 TRANSPACIFIC BR 0.46 0.465 0.435 0.46 0.435 0.46 45,720,000 20,638,650 PHILWEB 2.89 2.91 2.85 2.91 2.77 2.91 1,440,000 4,115,290 2GO GROUP 8.41 8.49 8.4 8.5 8.4 8.41 61,300 517,216 ASIAN TERMINALS 15.3 15.5 15.3 15.5 15.3 15.4 4,300 66,600 CHELSEA 3.21 3.22 3.2 3.28 3.2 3.22 1,021,000 3,291,640 CEBU AIR 45.7 45.75 46.35 46.35 45 45.7 99,800 4,566,310 INTL CONTAINER 125 128 122.1 128 121.8 128 1,237,970 155,512,440 LORENZO SHIPPNG 1.05 1.06 1 1.08 1 1.06 119,000 124,270 MACROASIA 4.88 4.89 4.9 5 4.84 4.89 1,516,000 7,452,270 METROALLIANCE A 2.39 2.4 2.46 2.47 2.39 2.39 509,000 1,225,420 PAL HLDG 6.08 6.1 6.1 6.24 6.08 6.08 19,800 121,667 HARBOR STAR 1.27 1.28 1.23 1.31 1.2 1.27 562,000 717,970 ACESITE HOTEL 1.85 1.89 1.74 1.9 1.64 1.89 1,183,000 2,152,730 BOULEVARD HLDG 0.091 0.092 0.085 0.092 0.084 0.092 386,630,000 34,039,340 DISCOVERY WORLD 3.94 4 3.98 4 3.88 4 411,000 1,618,270 WATERFRONT 0.58 0.59 0.61 0.61 0.58 0.59 4,691,000 2,784,220 CENTRO ESCOLAR 6.61 7.33 7.33 7.33 7.33 7.33 200 1,466 FAR EASTERN U 580 600 580 580 580 580 770 446,600 IPEOPLE 6.76 7.81 6.76 6.76 6.76 6.76 390,000 2,636,400 STI HLDG 0.385 0.39 0.38 0.395 0.38 0.39 520,000 199,550 BERJAYA 4.43 4.6 4.6 4.6 4.6 4.6 6,000 27,600 BLOOMBERRY 7 7.01 7.01 7.03 6.98 7 2,174,100 15,217,284 PACIFIC ONLINE 2.04 2.07 2.04 2.04 2.03 2.04 581,000 1,179,560 LEISURE AND RES 1.78 1.8 1.8 1.84 1.78 1.82 275,000 496,450 MANILA JOCKEY 2.09 2.1 2.09 2.09 2.09 2.09 5,000 10,450 PH RESORTS GRP 2.15 2.16 2.13 2.19 2.13 2.16 2,798,000 6,051,990 PREMIUM LEISURE 0.395 0.4 0.38 0.395 0.38 0.395 2,420,000 949,100 PHIL RACING 6.03 6.5 6.5 6.5 6.02 6.02 200 1,252 ALLHOME 8 8.08 8.1 8.1 8 8.08 338,300 2,710,545 METRO RETAIL 1.31 1.32 1.31 1.33 1.3 1.32 819,000 1,080,460 PUREGOLD 37.65 37.7 38.9 39.3 37.5 37.65 5,499,200 208,676,070 ROBINSONS RTL 55.55 55.6 56.8 56.8 55.4 55.6 2,479,740 137,877,412 PHIL SEVEN CORP 96.95 98 95 95.1 95 95 214,140 20,343,530 SSI GROUP 1.25 1.26 1.21 1.26 1.21 1.25 1,282,000 1,590,240 WILCON DEPOT 17.3 17.5 17.7 17.7 17.26 17.3 1,188,600 20,602,480 APC GROUP 0.39 0.395 0.385 0.395 0.385 0.395 510,000 197,750 EASYCALL 6.45 6.65 6.36 6.7 6.36 6.65 15,100 99,499 IPM HLDG 5.09 5.1 5 5.1 5 5.1 20,000 100,439 PAXYS 2.25 2.33 2.25 2.3 2.25 2.3 70,000 160,900 PRMIERE HORIZON 2.27 2.28 2.18 2.29 2.17 2.27 50,514,000 112,582,620 SBS PHIL CORP 4.5 4.74 4.5 4.5 4.5 4.5 10,000 45,000

-45,447,220 -63,998,150 -50,640 -46,482,934 11,300 -3,168,536 9,150 -54,060 682,200 -92,410 45,010 1,517,495 -12,147,941 -2,002,920 -6,100 -62,140 3,800 155,520 4,000 51,330 3,800 3,348,857 12,240 177,620 296,400 470,135 -613,720 -12,493,050 12,357,020 -112,220 -341,890 -8,888,354.00 11,550 -156,400.00 3,857,440 -

MINING & OIL ATOK 9.4 9.45 10.38 10.5 9.12 9.4 3,608,200 35,742,684 -114,122 APEX MINING 1.46 1.47 1.46 1.48 1.45 1.47 286,000 419,550 ATLAS MINING 6.2 6.25 6.2 6.25 6.18 6.25 502,100 3,121,500 1,863 BENGUET A 2.69 2.83 2.69 2.85 2.69 2.85 13,000 35,150 COAL ASIA HLDG 0.285 0.295 0.285 0.29 0.28 0.29 150,000 43,150 11,600 CENTURY PEAK 2.6 2.77 2.75 2.8 2.75 2.8 15,000 41,380 41,380 DIZON MINES 8.68 9.19 9.35 9.35 9.3 9.3 700 6,537 -1,863 FERRONICKEL 2.49 2.5 2.41 2.5 2.41 2.49 2,627,000 6,509,300 -294,250 GEOGRACE 0.32 0.325 0.31 0.325 0.31 0.325 1,200,000 380,850 LEPANTO A 0.133 0.134 0.135 0.135 0.13 0.133 3,630,000 479,550 MANILA MINING A 0.0096 0.0097 0.0096 0.0098 0.0096 0.0097 68,000,000 659,600 MANILA MINING B 0.0097 0.01 0.0099 0.0099 0.0099 0.0099 5,000,000 49,500 MARCVENTURES 1.24 1.27 1.24 1.28 1.24 1.26 771,000 966,080 -25,070 NIHAO 1.76 1.77 1.9 2 1.66 1.76 7,051,000 12,651,390 -1,759,400 NICKEL ASIA 5.1 5.11 5.05 5.2 5.05 5.11 1,440,400 7,356,629 117,207.00 OMICO CORP 0.405 0.445 0.44 0.44 0.44 0.44 100,000 44,000 ORNTL PENINSULA 0.93 0.94 0.85 0.94 0.84 0.94 3,359,000 3,020,710 -16,810 PX MINING 4.56 4.59 4.54 4.58 4.53 4.55 235,000 1,067,450 63,760 SEMIRARA MINING 13.48 13.5 13.58 13.62 13.48 13.48 4,662,500 62,964,064 -5,805,720 UNITED PARAGON 0.0075 0.0076 0.0076 0.0077 0.0075 0.0075 71,000,000 536,300 ACE ENEXOR 21.9 22 21.75 22.6 21.75 22 259,000 5,721,510 1,392,015 ORNTL PETROL A 0.012 0.013 0.012 0.013 0.012 0.012 67,900,000 816,300 ORNTL PETROL B 0.012 0.013 0.012 0.013 0.012 0.013 4,400,000 52,900 PHILODRILL 0.012 0.013 0.013 0.013 0.012 0.013 67,700,000 834,700 1,200 PXP ENERGY 8.35 8.5 8.47 8.55 8.22 8.35 1,092,500 9,095,919 -498,523

PREFFERED HOUSE PREF B 100.4 101 101 101 101 101 110 11,110 AC PREF B1 529.5 535 530 530 529.5 529.5 1,010 534,800 ALCO PREF B 101 102.9 102.5 102.5 102.5 102.5 600 61,500 AC PREF B2R 526 530 526 526 526 526 300 157,800 CEB PREF 40.85 40.9 40.9 40.95 40.75 40.9 124,400 5,078,225 2,851,925 CPG PREF A 101.1 102.4 101.1 102.4 101.1 102.4 5,020 513,918 DD PREF 101.5 102.4 100.6 101.5 100.6 101.5 3,250 329,830 FGEN PREF G 107 110.7 107 110.7 106.5 110.7 16,400 1,749,068 GLO PREF P 502 515 503.5 503.5 502 502 8,190 4,114,530 GTCAP PREF A 973 1,038 1,038 1,038 1,038 1,038 5 5,190 MWIDE PREF 100.1 101.8 101 101 100 100.2 23,010 2,303,522 50,150 MWIDE PREF 2B 100.5 101 100.5 101 100.5 101 7,000 704,000 PNX PREF 3B 101.2 103.9 104 104 103.9 103.9 1,410 146,594 -29,092 PNX PREF 4 992 995 990 995 988 994 3,600 3,564,830 99,000 PCOR PREF 3A 1,070 1,115 1,068 1,068 1,068 1,068 1,000 1,068,000 PCOR PREF 3B 1,130 1,145 1,124 1,124 1,124 1,124 3,345 3,759,780 SFI PREF 1.68 1.99 1.68 1.68 1.68 1.68 1,000 1,680 SMC PREF 2C 77.85 79 77.85 77.9 77.65 77.85 59,680 4,642,462 12,464 SMC PREF 2E 76 77.8 75.95 75.95 75.95 75.95 80,400 6,106,380 SMC PREF 2F 78.95 79.2 79 79 78.95 78.95 10,500 828,980.50 SMC PREF 2H 76.7 77 77 77.05 77 77.05 9,000 693,260 SMC PREF 2I 78.3 79.5 78.9 78.9 78.9 78.9 320 25,248 SMC PREF 2J 76.2 76.8 76.2 76.9 76.2 76.8 1,080 82,351 SMC PREF 2K 76 76.5 76 76.5 76 76.5 4,890 371,675 -

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 10.5 10.96 10.5 10.5 10.32 10.5 101,300 1,063,476 -3,120 GMA HLDG PDR 8.38 8.4 8.49 8.49 8.36 8.4 575,600 4,869,443 -77,335

WARRANTS LR WARRANT 2.06 2.07 2.11 2.16 2.04 2.07 2,934,000 6,094,840 -

SMALL & MEDIUM ENTERPRISES ALTUS PROP 19.06 19.08 19 19.22 18.98 19.08 99,300 1,895,488 51,672 ITALPINAS 2.63 2.65 2.7 2.7 2.6 2.63 488,000 1,287,180 -15,870 KEPWEALTH 5.11 5.25 5.3 5.3 5.09 5.25 20,400 104,075 MAKATI FINANCE 2.53 2.59 2.53 2.53 2.53 2.53 9,000 22,770 MERRYMART 5.51 5.52 5.48 5.6 5.47 5.51 10,956,600 60,629,291 -229,552

EXHANGE TRADE FUNDS

FIRST METRO ETF 99.55 99.8 99.5 99.8 99 99.8 28,980 2,885,862 102,664.50

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Banking&Finance BusinessMirror

BSP told to help fraud victims recover money

By Butch Fernandez @butchfBM

T

HE chairman of the Senate Committee on Banks, Financial institutions an Currencies, Senator Grace Poe prodded the Bangko Sentral ng Pilipinas (BSP) regulators to “help fraud victims get their money back.”

In a statement last Tuesday, Senator Grace Poe prodded the BSP to “advocate for the rights of consumers and use its influence on banks to ensure fraud victims get their money back.

“Financial regulators are keen on throwing banks a line when they are deemed to be too big to fail,” Poe, panel chairman, noted adding a reminder that “equally, individuals deserve proper and timely support.”

“People should be at the core of what government does and no one should be too small to ignore,” Poe said.

The Senator recalled the BSP itself had earlier noted that people were still hesitant to transact online for fear of getting scammed or hacked, attributing such to lack of awareness.

She cited reports that groups in social media have been created by victims of online bank fraud, noting that “one group collated data on the amounts people lost to fraud, with over 150 victims coming out and losses amounting to P7.5 million.”

According to her, “addressing the

As Pinoys go cashless, LandBank says enough cash in ATMs

L

ANDBANK of the Philippines CEO Cecilia C. Borromeo assured its clients on Tuesday that they have cash in their automated teller machines (ATMs) amid the re-imposition of lockdown measures in some areas of the country.

“Amid the recent rise in Covid-19 cases, LandBank remains committed to balancing uninterrupted service delivery while prioritizing your health and safety,” Borromeo said. “While we continue to promote cashless transactions, we also ensure sufficient cash availability in all our ATMs should you need cash.”

The CEO also said their branches will remain open but with “strict but necessary health protocols in place.”

Earlier this month, LandBank announced it is extending once again the waiver of fees for online fund transfers of retail clients until June 30.

Previously extended only until March 31, the waiver of fees covers online fund transfers facilitated through the state-owned bank’s online banking channels via InstaPay and PESONet. It has also reported that its mobile banking application (app) facilitated 14.1 million transactions valued at P20.27 billion as of end-February. This represents a 71-percent increase in transaction and a 230-percent increase in total volume from the previous year.

Borromeo also called on clients to “be extra vigilant” in protecting accounts against scams and security threats as cybercrimes threats remain in the midst of restrictions in mobility and travel.

“Do not share your personal account details to prevent unauthorized use of your bank accounts or credit cards,” the LandBank CEO said. “Please report to us immediately if you notice any unusual transactions or activities in your accounts.” Bianca Cuaresma

concerns of consumers and helping them get their hard-earned money back will help improve confidence” in online transactions.

Likewise, the lawmaker noted that overseas Filipino workers (OFW) have also been victimized but some are fortunate enough to be in a different time zone and are awake when the crime happens that they got a chance to call the bank to freeze their accounts and limit their losses.

Poe cited the BSP’s chatbot, where victims can raise their complaints, as a good start as well as the central bank’s information campaigns to increase the awareness on how to avoid being a victim of fraud also help. However, she stressed heightened measures are demanded by the public.

“Some of the money stolen go to accounts that victims have identified,” the Senator said, reminding that banks are expected to timely and effectively act. “Certainly, the BSP must leave no stone unturned in safeguarding the welfare of our consumers.”

Poe recalled that Republic Act 11521 (An Act Further Amending the Anti-Money Laundering Act) was timely passed and enacted into law in January this year.

“Such should also help equip regulators with a way of tracking the money trail to help resolve some cases,” Poe said. “Coordination with other government agencies must also be improved.”

Wednesday, April 7, 2021 B3

Govt raises ₧35B from sale of newly issued 5-yr bonds

T

By Bernadette D. Nicolas

@BNicolasBM

HE Bureau of the Treasury raised P35 billion from fully awarding newly issued five-year Treasury Bonds (T-bonds).

The auction was also oversubscribed by more than twice the P35-billion offering as the tenor attracted tenders amounting to P80.78 billion.

The security fetched a coupon rate

of 3.375 percent and an average rate of 3.301 percent.

National Treasurer Rosalia V. De Leon said the committee decided to fully award the security on the back of “strong market demand.”

De Leon added it fetched a lower rate than the secondary level for comparable tenor.

For this week, the Treasury has so far raised P60 billion from auctioning off government securities.

On Monday, it sold P25 billion in Treasury Bills.

In a bid to take advantage of good liquidity conditions, the government has also programmed to borrow a total of P170 billion in April, higher than the P160-billion it programmed in March.

The national government’s outstanding debt as of end-February this year soared to a new record high of

P10.406 trillion as the government continued to borrow more money to respond to the raging Covid-19 pandemic.

Finance officials earlier said they expect the national government’s debt this year to reach 57 percent of gross domestic product (GDP).

The government aims to borrow a total of P3.03 trillion this year, roughly the same amount it borrowed in 2020.

As of end-2020, the country’s debt to GDP ratio surged to 54.5 percent—a 14-year-high—coming from a record-low 39.6 percent in the previous year.

BPI announces digital programs for corporate clients

By Bianca Cuaresma @BcuaresmaBM

T

HE Bank of the Philippine Islands (BPI) announced last Tuesday two new digital efforts in an effort to decrease reliance of local businesses on paper documents when doing financial transactions.

The bank launched the Electronic Automatic Debit Arrangement (eADA) on its BizLink platform for corporate clients.

The e-ADA will allow digital enrollment for biller companies and their customers, thereby enhancing customer collection by reducing costs and providing better customer experience overall. BPI is the first bank to offer a fully digitized e-ADA enrollment experience.

“This new service eliminates the dependence on paper documents which come with manual enrollment to ADA. Electronic-based enrollments would allow for more accurate and convenient processing for both

the company and the customer,” BPI Transaction Services Head Ana maria C. Sison said.

The lender also announced it has a new Bulk Check Deposit facility.

This facility, it explained, allows corporate clients to process checks by scanning and depositing checks from their offices instead of going to the bank branches.

The bank said the new innovations are aimed at helping businesses streamline their processes, enhance customer experience, reduce costs,

and lessen the chances of spreading Covid-19.

“The pandemic and the corresponding lockdowns have greatly accelerated digitalization among industries and established highlydigital customer behaviors. While we look forward to a Covid-free world, we believe that when it comes to digitalization, there is no turning back and businesses need to embrace it,” BPI Corporate Banking Head Juan Carlos L. Syquia said. “Digital is the way of the future.”

Direct tariff revenues to investments in biosecurity–Rep. Salceda

By Jovee Marie N. dela Cruz @joveemarie

T

HE chairman of the House Committee on Ways and Means last Tuesday proposed to direct tariff revenues from current tariff rates towards biosecurity and investments in safe feeding of the country’s livestock.

Albay Rep. Joey Sarte Salceda said the African swine fever (ASF) was spread in large part of the country because of swill feeding or leftover human food and infected imported meat passing through Philippine borders.

“We need to invest in biosecure import inspection, sanitation of our swine farms and better feeding,” Salceda said. He added his policy team is calculating the hypothetical foregone revenue and he will propose “that these revenues be dedicated to these efforts instead.” “[During our committee hearing] It was also made clear to us that the process for inspecting imported meat is not yet strong enough to protect the country from biohazards, including new strains of ASF.” He added that the officials of the Department of Agriculture “themselves manifested that the process needs improvement.”

Salceda’s ways and means committee covers all matters directly and principally relating to the fiscal, monetary and financial affairs of the national government including tariff, taxation, revenues, borrowing, credit and bonded indebtedness.

“As changes in tariff rates fall under the Committee on Ways and Means, my committee stands prepared to do what is necessary to chart a course that both protects domestic industry and benefits Filipino consumers,” the lawmaker said. “I already recommended that we instead allocate the tariff revenues for biosafety and feeding of our swine population.”

Retain tariff rate

MEANWHILE, Salceda also wants the government to retain the existing 40-percent tariff, saying lowering tariffs without stronger inspection mechanisms carries the risk of increasing ASF infections among domestic livestock.

“I warn against a knee-jerk tendency to lower imports for pork. Imported pork prices are already low, at around P190 per kilo, even with the current tariff rates,” he said.

“Lowering the tariffs further down will only harm revenues and the domestic industry, while

padding the profits of traders and importers.

With or without lower tariffs, there is a high commercial incentive to import because of the price differential,” he said.

The Committee on Tariff and Related Matters (CTRM) has proposed to immediately lower pork tariffs to 5 percent within the Minimum Access Volume (MAV) and 15 percent outside the MAV for three months, with a slight increase to 10 percent within the MAV and 20 percent outside the MAV for nine months. These rates are significantly lower than the current 30 percent within the MAV and 40 percent outside the MAV. But the leadership of the lower chamber has asked President Rodrigo Duterte to reconsider his recommendation increasing the MAV for pork by 350,000 metric tons (MT) and retain the existing tariff rate.

Salceda, however, said he is supporting the move to increase the MAV. “I am supportive of efforts to increase the MAV for pork imports and to rationalize our import procedures. We almost always import above the MAV, but the MAV itself is not fully utilized,” he said. “Last month, my committee already held hearings on the matter, and we

PDIC’s checkup process passes int’l standards

T

HE Philippine Deposit Insurance Corp. (PDIC) said its bank examination process has been recently certified by TÜV Rheinland Philippines Inc. as compliant with ISO 9001:2015 standards.

This quality assurance provides confidence to PDIC’s stakeholders that the PDIC’s process is at par with international standards and responsive even during times of crisis, such as the current pandemic.

The PDIC conducts bank examination as part of its risk mitigation function to protect the Deposit Insurance Fund (DIF), which represents PDIC’s overall capacity to respond to insurance calls due to bank failures. Consistent with its Memorandum of Agreement on Bank Examination signed with the Bangko Sentral ng Pilipinas (BSP), the PDIC’s examination of banks focuses on a bank’s deposit operations and compliance with deposit-related laws, rules and regulations. During its bank examinations, the PDIC is able to assess if a bank’s deposit-related activities are done in a safe and sound manner thereby reinforcing protection of the depositing public. Deficiencies and findings uncovered during PDIC’s examination are communicated to the subject banks,

which are then enjoined to correct the deficiencies.

TÜV Rheinland also cited the PDIC’s resourceful approach in conducting offsite bank examination through a virtual platform in response to the Covid-19 pandemic.

In addition to PDIC’s bank examination process, TÜV Rheinland also recommended two other PDIC frontline services for continued ISO certification under the 9001:2015 standards following successful virtual audits held in November and December last year. These processes include real property disposal operations and loans management and their support processes.

TÜV Rheinland noted that the PDIC has established and continues to maintain an effective system to ensure compliance with its policy and objectives.

As statutory receiver, the PDIC collects loans from closed banks’ borrowers and disposes of the bank’s remaining assets. Proceeds from loan collections and asset disposal initiatives are later distributed to creditors of closed banks to the extent of recovered assets of the closed banks.

The QMS for loans management and real property disposal operations were first certified under ISO 9001:2015

standards in 2018 and 2019, respectively. In 2020, the QMS for two other PDIC’s frontline services namely, claims settlement operations and assessment of member banks, have also been recommended for continued certification under ISO 9001:2015 standards by another certifying body.

“The adherence to international standards of the quality management systems of our core processes helps increase depositor confidence in PDIC’s ability to carry outs its mandates of depositor protection and financial stability. The continuing certification of our frontline services under ISO 9001:2015 standards is a seal of excellence that speaks of our commitment and responsiveness to serve our stakeholders despite the challenges of the pandemic,” PDIC President and CEO Roberto B. Tan was quoted in the statement as saying.

An ISO certification is a seal of approval from a third-party certifying body, which adds credibility to an organization’s processes and services. The ISO certifications on PDIC’s frontline services assure its stakeholders and clients of an efficient service delivery through systems and processes duly audited by a third party.

continue to work on policy solutions to help lower pork prices.”

“While our imports always exceed the MAV, the MAV itself is underutilized due to red tape in the process of applying for the MAV. Industry players claim that other players corner MAV approvals. While this claim may or may not be true, we are certain that merely expanding the existing system will only result in expanding its current flaws The proposed rate differential (in-quota 5 percent and outquota 15 percent) is extremely attractive to those who would attempt to corner MAV allocations,” he added.

Last March 26, the Palace submitted a letter to the House of Representatives recommending the increase in the MAV for pork by 350,000 MT. The current MAV is only at 54,000 MT. “I propose instead that we expand the MAV, but make its approval automatic for importers (first-come, first-served). This makes the process fair and efficient, and would effectively lower tariffs by 10 percent to the extent that we need additional imports. Lowering tariffs beyond the volumes we need is tantamount to a bonanza for importers and a bane for alreadystruggling domestic producers,” he said.

B4

Show BusinessMirror

Wednesday, April 7, 2021 • Editor: Gerard S. Ramos

www.businessmirror.com.ph

Today’s Horoscope

By Eugenia Last

z

CELEBRITIES BORN ON THIS DAY: Ismael Cruz Cordova, 34; Elaine Miles, 61; Jackie Chan, 67; Francis Ford Coppola, 82.

Happy Birthday: An open mind will lead to lots of interesting alternatives this year. Dive into the unknown and discover what life has to offer. Do the legwork necessary to make your dreams come true. Refuse to let obstacles intimidate you when turning a negative into a positive will help you find the best path forward. Do what you do best—prosper. Your numbers are 5, 17, 20, 24, 35, 37, 42.

PROBLEMATIC PARENTING

MANY people were shocked to see the TikTok video of a girl dissing her allegedly sex-hungry ex-boyfriend, who is all of 14 years old. The shocking part is that the boy is the son of an actress and her ex-husband. The actress is known to be a well-mannered woman and it was really shocking to see those words coming from her son. The ex-girlfriend even provided screenshots of conversations involving the boy. In one, the boy reportedly said his father was helping find girls for him to have carnal relations with. In another screenshot, the boy allegedly said he doesn’t mind getting other girls pregnant because they’re nobodies anyway. Everything the boy allegedly said could just be bragging but the fact that he has these ideas in his head is disturbing, don’t you think so? Let’s hope his parents are doing something about this.

MINI OUTBREAK

WHEN the government declared ECQ in Metro Manila and the NCR Plus bubble, this show, which was usually broadcast live, immediately said they would stop doing so. But the truth, according to sources, is that there was a mini Covid-19 outbreak on the set, a result of there being so many people there all the time. The show was really going to announce a shutdown but ECQ happened and they were given a graceful way to do so.

NOT APPROVED

THE family of a young starlet was horrified when they learned of her romance with a much older celebrity. The older celebrity is single but the age difference between him and the starlet is too big for it to be comfortable with anyone. The family is afraid because the starlet is not yet financially stable and her boyfriend being older means they could get married soon. While they will suffer if and when the starlet gets married, as she helps the family financially, they also want her to be successful on her own like her peers.

TIKTOK SCANDAL

SPEAKING of TikTok, a scandal is brewing in connection with a certain talent manager and their underage talents. The talents allege that the manager groomed and abused some of them. The talents have aired their stories via TikTok and they said they have evidences and witnesses. The manager (also via TikTok) has warned they could be sued for these accusations. One talent has already shown a video containing inappropriate messages from the manager. Among the accusations are casting couchrelated incidents.

a

ARIES (March 21-April 19): Present your thoughts and actions with clarity, determination and the will to succeed. Use your connections and credentials to wiggle your way into a position that interests you. Personal gain is apparent. HHHHH Olivia Liang as Nicky Shen in a scene from Kung Fu.

A new ‘Kung Fu’ debuts at a crucial time for Asian Americans

N

By Alicia Rancilio The Associated Press

EW YORK—Up-and-coming actors will sometimes claim to know a variety of skills to be considered for roles, but Olivia Liang set a boundary early in her career.

“When I started off in the industry, people would ask me why martial arts wasn’t on my resume because it was such a typecast for Asians to do martial arts roles,” said Liang. “So I made a promise to myself.

I was like, ‘I’ll never learn martial arts until someone pays me to learn martial arts.’”

Liang kept that promise. She learned martial arts as the lead of The CW’s new series, Kung Fu—and she’s getting paid for it.

Kung Fu is inspired by the 1972 series starring David Carradine. It stars Liang as Nicky Shen, who while visiting China joins a monastery where she is taught Shaolin values and martial arts. When her mentor is killed, she returns home to find her community disrupted by a local gang. She must use the martial arts skills she learned to protect her neighborhood and family, and soon discovers she’s being targeted by the same assassin who killed her Shaolin mentor.

Liang says what makes Kung Fu different than the superhero shows The CW is known for is that Nicky is not a vigilante.

“Nicky is heroic, but she doesn’t see herself as a hero. She doesn’t have a hero complex where she is going out to find bad guys. She sees bad things happening and feels like she needs to do something about it.”

The series has a mostly Asian American cast with an Asian American showrunner and executive producer, Christina M. Kim. “I’m so excited that I get to give some people this opportunity to shine,” said Kim. “When I was on set for the first time, we did a camera test and I literally was staring at the monitor and it just hit me. I was like, ‘I’ve never seen the screen filled with Asian American faces like this is.’”

Kim says her writers room is also diverse. She

has five writers of Asian descent on staff. Half of the writers are also women, which Kim says is a novelty.

“Usually it’s just me and one other woman in a room.”

Kung Fu premieres on Wednesday on The CW. Tzi Ma, who plays Nicky’s father, Jin, says it’s remarkable to have so many people with Asian backgrounds working on the show, because he doesn’t have to explain the Asian experience to people who are making creative assumptions to what that’s like.

Ma hopes the authenticity of the series will help to change the public consciousness at a time when hate crimes against Asian Americans are on the rise.

“The camera is a very interesting instrument. I want the audience to have the opportunity finally to see what real reputation representation is like. And when they get educated...they will begin to develop their taste of what’s good, what’s real and what’s true.”

The Asian American community is also paying attention, not only to see their stories on TV but to see how they’re told. Valerie Soe, a professor in the Asian American Studies Department at San Francisco State University, hopes the producers and writers will be careful with what imagery is presented to viewers.

“The tricky part will be for the folks who are in charge to make sure that the show doesn’t veer too much into older stereotypes and tropes.” She cites the gang storyline as potentially problematic because it promotes the theory “that all Asian men are gangsters and villains.”

Overall, Soe says the series is a win because it’s one more example of an Asian American story being told.

“There’s a phrase called ‘narrative plentitude’ that Viet Thanh Nguyen the author uses—about having a lot of different stories out there to pick from so we don’t have to just like obsessively focus on one. Like, ‘Is Crazy Rich Asians going to represent us accurately?

Is Joy Luck Club going to represent us accurately?’ It’s like, ‘Well, if that one doesn’t, then we’ve got this other one,’” she said. “The more the merrier. I think not everything’s going to be fabulous and not everything’s going to be exactly what we want. But, if you have a lot of different choices, then you don’t expect everything from one.” n

b

TAURUS (April 20-May 20): Keep your life simple, your thoughts in perspective, and stick to a moderate lifestyle. Too much of anything will lead you down the wrong path. Focus on disciplined activities, taking care of your responsibilities and doing your best to excel. HH

c

GEMINI (May 21-June 20): Participate in virtual events, and you will meet someone interesting.

Accept the inevitable, and you will discover a way to take better care of yourself and your finances.

An opportunity to use your knowledge and charm to get ahead will pay off. HHHHH

d

CANCER (June 21-July 22): Use your skills uniquely, and you’ll bypass some of the pettiness going on around you. Avoid joint ventures and shared expenses. You are better off working alone and not being bound by what others do or say. HHH

e

LEO (July 23-Aug. 22): Tag along with people you find refreshing and trendy, and you’ll latch on to information and ideas that will help you get ahead. Learn all you can. Strive to make changes that support better relationships with individuals who share your beliefs. HHH

f

VIRGO (Aug. 23-Sept. 22): Don’t limit yourself. Aim to please and get things done correctly and on time. Your performance will make a difference in the way others treat you. Don’t waste time criticizing others when practicing what you preach will lead to success. HHH

g

LIBRA (Sept. 23-Oct. 22): Be open to suggestions that will save you time and money.

A commitment to someone will encourage a positive lifestyle change. Be honest about the way you feel, what you want and what you are willing to give in return. HHH

h

SCORPIO (Oct. 23-Nov. 21): Make a domestic change, but don’t go over budget.

Price everything out to ensure you get what you want at the cost you can afford. Refuse to let anyone play on your emotions. HHHHH

i

SAGITTARIUS (Nov. 22-Dec. 21): Look out for a friend or relative. Your interest and concern will make you more aware of what’s going on around you. A positive change at home will encourage a better relationship with someone you love. HHHH

j

CAPRICORN (Dec. 22-Jan. 19): You won’t get along with everyone today, so keep your opinion to yourself. Bide your time, check out new possibilities and make a domestic adjustment that will ease stress and add to your comfort and convenience.

HHH

k

AQUARIUS (Jan. 20-Feb. 18): Spring forward with enthusiasm. Get fit, healthy and ready for your next adventure. Look for prospects that interest you, and start conversations that can lead to a new and exciting position. HHH

l

PISCES (Feb. 19-March 20): Look for new ways to use your skills, knowledge and attributes. Connect with someone you enjoy collaborating with, and the suggestions offered will lead to a better position. Don’t share your plans with someone who criticizes you prematurely. HHH Birthday Baby: You are smart, charming and dedicated.

You are outgoing and proactive.

‘do the limbo’ by jo deeney The Universal Crossword/Edited by David Steinberg

ACROSS 1 Greet a monarch 4 Targets of certain combs 8 Protestant work ___ 13 Moby-Dick captain 15 Latke topping 17 Muslim sect 18 Political spending on pet projects (note letters 5 to 7 in this answer) 19 Living room piece 21 “No ifs, ands or ___!”

22 Toymaker for Santa 23 With part of 32-Across and all of 27-Across, American Red Cross founder 27 Heavy weight 30 Dishwasher sound 32 Whom “everybody loves” 36 Three-layer cookie 37 Examines, as a crystal ball 38 With part of 50-Across and all of 40-Across, expelled from legal practice 40 Main color on China’s flag 41 Leaders of small colonies?

47 Cohort before Gen Y

0 Gym snack 5 51 By means of 53 Palme ___ (Cannes award) 54 Ancient market 56 According to 57 With part of 72-Across and all of 61-Across, “It’s quite dark!”

61 Parisian palace 63 Hot-and-cold dessert 68 Take the chance 69 Artisans’ online shops 70 The ugly duckling, eventually 71 “That’s incorrect!”

72 Show, as one’s teeth 73 Some cross aves.

DOWN 1 They start and end on low notes 2 “Fancy meeting you here!”

3 Anticipate 4 Flag pin’s place 5 Nasdaq debut 6 EMT’s specialty 7 Caribou relative 8 Biblical birthright seller 9 Sour 10 Their Eyes Were Watching God

author 1 Diamonds, in slang 1 12 Cartoon frame 14 Not ___ an eye 16 Flow back 20 Repeating exactly 24 Dadaist Jean 25 Issa of Awkward Black Girl 26 “Yes,” to a sailor 28 Province by N.Y. 29 Romantic introduction?

31 Meal with a special plate 33 “Turn up the heat!”

34 Without erotic attraction, say 35 Six Flags draws 39 Utter 41 Proof letters 42 Cry in a popular card game 43 Most paranormal 44 LeBron James’ org.

45 Cleaning instructions’ location 46 Hit show initials 48 Some wood cutters 49 Give a mean look 52 Salad basics 55 Actress Witherspoon

8 Small islands 5 59 As well 60 ___ Geo Wild 62 RB’s gains 63 One may be erasable 64 Judge Lance 65 Crowd around, as a celebrity 66 “...___ lack thereof” 67 German article Solution to yesterday’s puzzle:

Image BusinessMirror

www.businessmirror.com.ph

Editor: Gerard S. Ramos

• Wednesday, April 7, 2021

B5

The power of powerful stories IMAGE FROM BIGTHINKEDGE.COM

I

SPOKE one time at a church, and I talked about a man who carried water from a well to their house in broken pots, and how the side of the road where the water had dripped produced a row of flowers after some time. I explained how even in our brokenness, we can do good work, and hopefully that work could help others find inspiration. A few months later, a nine-year-old girl came up to me and told me she still remembered that story. It was a minor point in my talk, but I was surprised she remembered.

Stories have that power—they carry grains of truth which can stay with you and if allowed to germinate and grow, they can help you have a different perspective of your environment.

In a world of competing ideas and fake news, stories can help filter out the noise and focus attention to what are essential. As leaders, you can use it to help you motivate people and inspire them to move toward a common goal. I remember a teacher who instead of directly asking people to help during the pandemic, he shared his story on social media and was surprised to receive help from anonymous donors who saw his need and responded even if they were not asked.

Leaders can learn from this. They do not always have to direct and command their team. They can use stories to persuade people to do more and go beyond what they are normally willing to give.

Another story I came across recently was a thread in social media of a woman who described their experience of looking for an available hospital that would take in their sick father. They ended up waiting outside of an emergency room where their father lay on a stretcher, and there he died surrounded by others waiting to be treated. Stories have a way of putting a face to an issue and makes it more relatable because the issue just might hit close to home. It allows people to see lives more just than numbers, appreciate the effort and dedication more than occupation, and feel the heart more than the act. People understand an issue better when contextualized through the experiences of another person.

Similarly, as leaders, you can use your own struggles and hardships as an illustration of how your team members can also surpass their own difficulties.

It takes a little bit of creativity to share your story in a way your team can relate to. You can also invite other

people to encourage your team and help them gain a different perspective to issues you face as a team.

One reason why stories are powerful tools of teaching is the emotional connection made to the listener when these are used to illustrate a point. That is why testimonials are effective tools for persuading people to adopt a certain perspective because they are won over by something they can relate to. Your personal intent and authenticity can help people see beyond what you are saying and be moved to act. But like any other tool, testimonials can be used to spread disinformation and serve personal exigencies. People will know if you are being duplicitous. And when they do, stories lose their power to persuade. As a leader, your true self should show enough for your team to be inspired and moved to act.

When used properly, stories can also soften even the hardest hearts and the most stubborn of heads to see a point of view that would otherwise be lost in technical discussions. Your experience can become the springboard to make your point, especially when it resonates with people’s own experiences and reflects their own desires and aspirations. Stories become doubly powerful when drawn from personal experience and delivered by a trusted and charismatic person. While your difficulties help your team see

beyond their limitations, your personal victories can help you boost your team’s morale and motivate them.

Stories can also be used to help elevate issues to people’s level of consciousness, which they would not have thought of if not for good storytelling. I especially like how TED Talks is formatted because the topics they showcase are not typical, and the speakers are assisted in how they organize their materials and even how to deliver them. This creates an environment where subject matter experts can talk about their expertise on a level that is practical and useful for everyday living.

It takes lots of practice to become a good storyteller, as in the TED Talks speakers, but it is not impossible. Stories can especially be helpful for when you need to coach someone on an issue which they see as a non-issue but affects their productivity and other team members. Instead of directly confronting the person, you can use stories and use characters in the story to represent people and ask questions on how those characters would react and later relate it to what is happening to the team.

To use your stories effectively, take time to reflect on your own experiences and the lessons you learned from them. Keeping a journal would help but a regular time to reflect and internalize lessons learned will

help you pass on the wisdom to others. Your journal or internalizations will provide a rich resource for when you will need them later.

Be honest about your experience and be authentic—show how the story has changed you and its effect on how you view things and how the experience has shaped the way you do your work.

Avoid glossing over achievements but focus on the how of your story so your team knows it is possible.

And lastly, know your audience. Your experience must resonate with the person you are talking to.

By spending time getting to know your audience— whether a team member or the entire organization, you will understand better what is relevant to them.

This will help you craft your story to achieve its maximum impact. Stories have a way of shaping information primarily because they speak to the heart more than the head. That is not to say it is illogical but rather, reason has found a way other than through the eyes and ears.

As the champion of multiple intelligences in educational theory Harvard professor Dr. Howard Gardner would say, “Stories constitute the single most powerful weapon in a leader’s arsenal.”

So, if you want to enjoin people to change, try using stories. n

Why remembering matters for healing

By Nancy Berns Drake University

Natural blends for your health Botanical infusions are often referred to as tea, which isn’t surprising since it’s what most of us are familiar with. Technically speaking though, true teas are made from the leaves of a specific plant, Camellia sinensis, and only include black, green, white, oolong, and pu-erh in its roster. Using other plants and plant parts then takes us to the domain of botanical or herbal infusions.

Containing leaves, barks, roots, seeds, flowers, and fruits of different plants that are valued for their therapeutic properties, botanical infusions have a long history that dates back to ancient China and Egypt where these were served as drinks for both enjoyment and medicinal purposes.

Popular for its signature Botanic Infusions, Filipino plant-based brand Sekaya (www.sekaya. com.ph) helps break down what botanical infusions are all about, and how the ingredients and their respective healing abilities make for flavorful drinks that can help keep you healthy and well.

Botanical infusions can be made from one plant part, multiple parts of one plant, or a blend of different plant types.

Botanical blends, in particular, combine different plants based on their traditional uses, keeping in mind how these benefits can complement each other to address a certain health concern.

Let’s take chamomile flowers, licorice root and cinnamon bark as examples. Chamomile flowers

are known to help relax the digestive muscles, licorice root has been traditionally used to calm an upset stomach, while cinnamon bark helps reduce gassiness and bloating. It makes sense then to put these three botanicals together to create a synergized infusion that can help alleviate stomach discomforts.

Aside from the traditional uses of plants and herbs, some brands like Sekaya go further when it comes to selecting ingredients that make up their botanical infusions. It’s always good to have scientific studies and research backing what the botanicals have long been used for, and especially important for consumers who often purchase these to support their specific health goals.

According to Dr. Eca Lorenzo, Internal Medicine doctor and Functional Medicine practitioner, “Scientific research has confirmed the traditional uses of many plants. For example, some herbs used to treat infections like cough and colds have indeed been found to possess anti-viral or antibacterial properties. Herbs used to treat pain or fever actually do have anti-inflammatory effects.”

She points out, “Such findings from research allows us to combine different herbs and plants into synergistic blends to address specific needs or goals. These studies also help confirm the safety and tolerability of such plants or herbs for human consumption.”

Holocaust Remembrance Day begins on the evening of April 7. Each year communities and schools plan various events such as reading the names of Holocaust victims and survivors, forums of Holocaust survivor speakers, or panel discussions with historians. These events run through an entire week of remembrance.

Such formal days of remembrance are important. As a sociologist who studies grief and justice, I have seen how these events and permanent memorials can be both healing and inspirational. I will share four reasons why remembrance activities are important. n Telling one’s story. An essential part of healing rests on the ability to tell one’s story—to have someone listen and acknowledge pain and suffering. Scholars have explained how stories help people make sense of their experience.

Stories can provide a release of emotion and help one connect to others when learning to live with loss.

How one grieves is dependent on social and cultural contexts. If one is surrounded, for example, by people who refuse to acknowledge someone’s loss, it will be a more traumatic experience than being in a culture that recognizes the loss.

Remembrance days, such as the Holocaust Remembrance, and memorials, in particular, can provide opportunities to share stories with a community, especially for those who might have trouble finding people to listen to them. n Providing public bonds. Research shows that many people develop continuing bonds with individuals who have died. Often people want to keep a deceased loved one’s memory in their lives. Remembrance events can present opportunities and rituals to help in sustaining those connections.

A person establishes private bonds with the deceased, through internal conversations, private rituals, or holding on to symbolic objects. Public bonds, on the other hand, require more people to help make connections, such as telling their story to an audience and hearing others’ stories through films, books, speakers or museum exhibits.

Community events that are scheduled as part of a day of remembrance provide resources for people who may want

to develop more public bonds. n Documenting history through stories. Storytelling does not just benefit survivors and victims’ families.

Individual stories can help the world understand the human toll of mass tragedy.

When entering the Holocaust Memorial and Museum in Washington, D.C., for example, visitors are handed an ID card that describes an individual who lived, or died, in Europe during the Holocaust.

Further along, there is a permanent exhibit that includes a large wall of portraits.

Seeing family pictures and knowing how their lives were devastated poignantly brings the tragedy home in a way that numbers alone cannot do. Such stories become the building blocks of history, for they are never simply individual.

They are told in specific historical times and they help us understand the relationships between people and society. n Inspiring other movements. Stories can also help inspire healing movements for other mass tragedies. One example of this inspiration can be found in the work of Bryan Stevenson, founder and executive director of the Equal Justice Initiative (EJI). Stevenson and his team have been helping audienceshear the stories of people who have been victims of racial injustice in the United States.

Stevenson was inspired by the Holocaust memorials he visited when he went to Germany: “You can’t go anywhere in Germany without seeing reminders of the people’s commitment not to repeat the Holocaust.”

It led him to build the National Museum for Peace and Justice in Montgomery, Alabama. The museum includes a history of lynchings in the United States that occurred between the Civil War and World War II. EJI has documented over 4,000 lynchings that mostly targeted African-Americans. As Stevenson explains, the history of terrorism through lynching shapes the context of racial injustice in the United States. The museum aims to open up conversations and memorialize lives lost.

Conversations about a painful past are not something to be feared but rather remembered and shared. Healing does not come by closing the books and turning away from individual stories of trauma. Healing starts when the devastating consequences of injustice and loss are seen and acknowledged. THE CONVERSATION

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SM Foundation bags seven PH Quill Awards

THE men and women behind SMFI, top photo, fron left: Executive Director Debbie P. Sy, Chito Macapagal, Carmen Linda Atayde, Connie Angeles, Cristie Angeles, (bottom): Juris Umali, Lingling Lansang, Vic Chan, Neny Regino, and Rhoyal Ancheta.

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M Foundation (SMFI) recently received honors and recognition at the recent 18th Philippine Quill Awards held virtually last March 25, 2021.

A total of seven awards were bestowed to SM Foundation—three Merit and four Excellence awards—for its exemplary communications strategies and efforts under five categories namely Audio/Visual, Social Media Programs, Publications, Community Relations, and Corporate Social Responsibility.

SMFI executive director Debbie P. Sy expressed her gratitude for the International Association of Business Communicators (IABC) Philippines for the said awards. The IABC Philippines, through the Philippine Quill Awards, honors exemplary communication research, programs, skills, and creative work.

She highlighted that these recognitions confirm the efficiency of the communications strategies of the SMFI in cascading its social good efforts to its stakeholders, “Being able to bag several Quill awards is a bonus for us since our main goal is to promote social development, especially in areas where we operate. Winning the Quill means that we are on the right track especially on communicating our social good efforts.”

The executive director further mentioned that at SMFI, personnel and officials believe that effective communication engages their stakeholders, “As a practice, we will continuously innovate our social good programs to provide social development for our stakeholders. And of course,

we also continuously improve our CSR communications through our #SocialGoodStories program.

And it’s not just putting our message out there, but it’s also making sure that our stakeholders can hear us.”

“We believe that end-to-end communication efforts present proof of a company’s commitment to sustainable social development. If your communication strategy is well contextualized and authentic, your social good program can unite various institutions in spreading social good - which in turn multiplies impact,” Sy added.

SM Foundation is the corporate social responsibility arm of the SM Group that intends to improve the quality of life of Filipinos through its Social Good programs.

Calcium Cee brand Ambassador Jessy Mendiola shares her secrets to achieving stronger immunity

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S the country waits for the highly anticipated vaccine to help us combat COVID-19, Filipinos can go further in strengthening their first line of defense, which is their immunity.

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ESSY Mendiola, the newest ambassador of Calcium Cee, shares her secrets to being fit and healthy in this time of pandemic. “Firstly, I try to combat the worries and the fears with a more positive mindset,” reveals the young 28-year-old actress. “I make sure to pray every day to nurture a sense of calm and remind myself of His love. And I try to keep myself fit and strong with the right exercise, proper nutrition, and, of course, my daily dose of Calcium Cee.” As an active individual, Jessy admits that she’s had to make major adjustments to her routines due to the lockdown and has had to find other ways to stay healthy. Today, she stays active by doing more challenging workouts at home and a little weightlifting.

Aside from working out, her secret, Jessy says, to staying fit while in lockdown is complementing her healthy eating with supplements. “Calcium CEE is my choice of vitamin C because it offers double C protection. It has both vitamin C and calcium, which helps fortify my immune system and protects my body from diseases. Also, it helps keep me healthy, energetic, and protected throughout the day!”

Calcium Cee is a unique non-acidic supplement that combines the potent powers of two essential

Eagle Cement sweeps 7th achievement award for sustainable development

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AGLE Cement Corporation (Eagle Cement), one of the largest producers of cement in the Philippines, bags its seventh consecutive win from the Presidential Mineral Industry and Environmental Awards (PMIEA), in recognition of the Company’s initiatives to enforce sustainable development practices in its mining operations amid the new normal.

Last March 18, Eagle Cement received another Platinum Achievement Award under the Quarry Operations Category from PMIEA for its sustainability performance in 2020, marking the company’s seventh consecutive year of being recognized by the PMIEA Selection Committee. Eagle Cement has been assessed in the following criteria: Environmental Management and Protection, Rehabilitation/ Mining Forest Program, Safety and Health, and Social and Community Development, among others.

Prior to this, Eagle Cement has been a Titanium Achievement Awardee for four successive years since 2014 and a Platinum Achievement Awardee from 2018.

“We, at Eagle Cement, are proud to have sustained the work and operations amid the lockdown and ensure that we continuously comply with the industry standards and new regulations on sustainability practices,” said Paul Ang, President & CEO of Eagle Cement, in a statement. “This recognition is a reflection of our unwavering commitment to deliver more positive impact and value to the community by continuously mitigating the impact brought about by our operations even in the midst of challenges we faced in the past year.”

The PMIEA recognizes the commitment and outstanding efforts of companies and organizations in mining and quarry operations and mineral exploration.

The award honored Eagle Cement’s best practices in the past year for responsible management of the environment and natural resources, improvement of land use, development of its host and neighboring communities, and site rehabilitation among others.

“We hope that this award further inspires our employees and partners to work towards building a stronger and more resilient Eagle Cement, fully understanding the need to maintain responsible and sustainable practices within the organization. Sustainability is always at the core of our business operations, and will remain to be a driving factor in the company,” Ang added.

Eagle Cement is optimistic about its growth as the Company is scheduled to complete by the first half of 2021 a new mill in Bulacan, which will increase its operations capacity and support Eagle Cement’s upcoming projects as most construction operations resume.

TAHBAP offers no down payment deal

TAHBAP President Jerome B. Mansibang EROME B. Mansibang, President of Trucking and Hauling Businessowners Association of the Philippines (TAHBAP), announces a great bargain to be availed in these trying times.

Truck buyers and business owners can take Advantage of the “No Down Payment

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Truck Deal” now being implemented by Mars Trucks. According to Mansibang, the trucking business is a pandemic-proof industry, thus, there are several projects and contracts in line with the trucks and their trucking businesses that are currently on hand. Although non TAHBAP members may avail of the deal, members get extra benefits that they can enjoy. In connection to that, Mansibang released “The Ultimate Guide in Starting, Operating and Growing a Trucking Business from Scratch” which provides everything needed to know regarding the business. Among them, building the fleet trade, getting licenses and permits, funding, operations management, free trucking technologies and tools, specialized knowledge, getting contracts, growing customer base and sustainability.

Information and other details in line with the promo may be obtained at 855-72063 and 837-51925.

Experience the best winning moments with Vivo’s affordable top-notch gamer nutrients – calcium and vitamin C. Calcium – aside from building strong bones and teeth to combat osteoporosis – strengthens the circulatory system. It helps blood vessels and muscles contract, aids in sending messages through the nervous system, and plays an important role in the secretion of hormones and enzymes in the body.

Calcium is great in correcting imbalances, especially hormonal and mineral (phosphate and potassium) imbalances. In women, in particular, calcium is seen to greatly relieve common PMS symptoms such as bloating and mood swings, and helps in weight loss.

Offering greater health benefits, calcium has also been shown to decrease the risk of kidney stones and colon cancer, too.

On the other hand, vitamin C is a well-known antioxidant that neutralizes harmful free radicals in the body. It also helps control infections and healing wounds.

“What I like about Calcium Cee is that it is a non-acidic type of vitamin C, which makes it safe and gentle to take even on an empty stomach,” Jessy says. “Plus, it offers the added perk of helping me look younger . Calcium Cee also helps in achieving a more youthful-looking by boosting collagen

formation, repairing key tissues, and easing stress, among other benefits.

Calcium Cee – compared to other brands in the market - utilizes a non-sodium ascorbate, a healthier form of the vitamin. This is in contract to the majority of vitamin C formulations on the shelves today that use sodium ascorbate, which has high levels of salt that may cause water retention and hypertension.

“If you’re looking for a simple, safe, and gentle means to boost your immunity, try Calcium Cee,” Jessy recommends. “It provides two-for-one benefits of vitamin C and calcium in just one capsule.

It’s a powerful and potent combination that can help everyone stay protected.”#CalciumCeeEveryday #StrongandHealthyEveryday Calcium cee, ascorbic acid is vitamin c in calcium ascorbate form. It is non acidic and non sodium, which can be taken in an empty stomach.

Calcium Cee is available at Mercury Drug (https://www.mercurydrug.com/) and Watson’s (https://www.watsons.com.ph/calcium-ascorbate1-tablet/p/BP_10076743). Merry mart, All day Green Pharma , Alturas Bohol and leading drugstores nationwide. For more details, visit Calcium Cee on Facebook: https://www.facebook.com/calciumc/.

Or call Calcium Cee hotline: 09175642233.

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INNING does not have to be expensive. Victory could come from a mobile device packed with the essential top-notch gaming features with an affordable price tag. New generation smartphones are giving gamers a more competitive advantage by improving the features they actually need.

To help users reach their full gaming potential, Vivo, the leading global smartphone brand, is set to launch the Vivo Y20s [G]. The new device is packed only with the important stuff: a smooth performance even in heavyloading game engines, a bigger phone capacity, and a long-lasting battery.

Coming to stores really soon, the Vivo Y20s [G] runs on a MediaTek Helio G80 octa-core gaming processor that ensures your machine’s lag-free and accurate performance. Avoiding delays prove the processor’s capability for prompt response between smartphone and cell tower while including advanced mechanisms in AI-supported games, and a highly accurate positioning engine.

It is also important for a smartphone to anticipate incoming issues before it affects gaming performance. The Multi-Turbo 3.0, another key feature of the Vivo Y20s [G], does this. It predicts system abnormalities caused

by third-party apps and solving problems even before they occur. The HyperEngine Game Technology meanwhile speeds up game load times and takes care of latency issues by managing multiple networks.

Completing the important gaming features in the latest vivo handset is its big smartphone capacity that has a 6GB and 128GB RAM + ROM support. This seals the realization that in a time when people think that a lot is lost, the Vivo Y20s [G] refuels passions by providing gamers only with what’s necessary.

Watch out for the launch and know more about this new smartphone by visiting www. vivo.com/ph or following @vivophilippines on Facebook, Twitter and Instagram.

BusinessMirror

Editor: Tet Andolong

Wednesday, April 7, 2021 B7

Diversifying portfolio through REIT

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By Rizal Raoul Reyes

ORE investors and property developers will use the realestate investment trust (REIT) market to expand their portfolio, according to real-estate services and consultancy firm JLL Philippines.

“We believe REITs will play an important role in jump-starting the economy from the adverse effects of the pandemic and will promote growth in the real-estate sector,” said P. Ryan Isip, JLL Philippines’ head of Capital Markets in a press statement.

Isip added, “Because of the nature of REITs, properties will need to be transparent in its income, occupancy, and prospects to make it more attractive to be invested in. Due to this, the REIT market promotes transparency in the real-estate industry. Ultimately, REITs will help attract a lot of investors in the medium to long term and will pave way for us to develop capital investments in the country.”

In a recent webinar, JLL pointed out that the launching of the country’s REIT market in 2020 was a much-needed development and boosted investment sentiment for the property sector.

With REIT going full steam in the local property market, JLL believes more property developers will diversify their portfolio and seek new capital to expand their real-estate buildings. Further, JLL Philippines also stressed profits earned from being a REITlisted property can be a source of funding for developers, raising fresh capital to finance future projects, which in turn will ramp up construction activities and employment.

Isip said developers are also

Ayala North Exchange is one of the three initial AREIT buildings along with McKinley Exchange, and Solaris One. These were followed by the acquisition of the Teleperformance Cebu building and The 30th in Pasig.

Globe Telecom ties up with Ortigas Land

By Roderick L. Abad

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HE real-estate company Ortigas Land has tied up with Globe Telecom to enable its property buyers to future-proof their homes with built-in smart home systems and high-speed fiber connectivity.

With their collaborative efforts, the property developer’s upcoming luxurious residential offerings, namely, the Maple at Ortigas East, The Empress at Capitol Commons, and Residences at The Galleon in Ortigas, will be equipped with Globe At Home’s (GAH) Fiber Internet Broadband even before the homeowners move in.

“At Ortigas Land, we are always seeking innovations that would

elevate the living standards of our future residents. By integrating smart home systems into our residential properties and with high-speed fiber Internet from Globe, we believe we would be enabling our residents even more to achieve a balance of life, work and leisure,” said Jenna Belardo, assistant vice president, strategic business unit head of property sales at Ortigas Land.

These residential towers will be ready for occupancy between 2024 and 2028. With GAH’s ultra-fast Internet service combined with the latest digital technologies, residents of the said condominiums can easily transform their living space into an intelligent home that is fit to their needs

and desires.

“We want to address the need of people for high-quality Internet with built-in Wi-fi connectivity that covers the different aspects of the home including entertainment, comfort, security, productivity, and safety. This is why we are very excited about this project as these three properties will exemplify our vision of powering the country’s modern homes,” said Darius Delgado, Globe head for broadband business.

The Ayala-led telco firm keeps on strengthening its fiber-to-thehome rollout and has earmarked a record-level cash capital expenditure of about P70 billion to provide customers with high-quality network performance and service

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More than a roof over one’s head

Community building, for SMDC, is more than just providing a roof over one’s head. It is about creating a place that allows people to thrive, where all the living essentials are within striking distance—from one’s daily necessities to opportunities for commerce, for jobs and for livelihood.

Building a nation of homeowners, as envisioned by Chairman Henry Sy Jr., means providing homes that are practical—efficient in size, generous in amenities, luxurious in

services and facilities.

Sustainability, after all, is about sharing spaces and resources, so that they become inclusive and affordable, while providing enough space for others to thrive. For people to continue to thrive, they need to be close to where the economic opportunities are, in major CBDs whose property prices are constantly skyrocketing. An SMDC home, therefore, does not just take care of today’s dwellers; it is a place where homeowners can reap good financial rewards, as a legacy that can be passed on to their children and their children’s children.

It is this idea of shared spaces that opens SMDC communities to the everyday home seeker. To be able to live in a safe community with hotel-like lobbies, resort-style amenities, 24/7 security, located in a major CBD, was a luxury available only to the rich. Now everyone can have a piece of that luxury. And by everyone, it also means individuals who may be challenged to live in vertical spaces. SMDC homes are built with accessibility provisions for seniors, children and PWDs.

More than just a breathing space

City living spaces are often viewed as concrete jungles devoid of breathing spaces.

Community building by way of SMDC means creating homes where residents and guests not only enjoy vast, open spaces with lots of greenery, but also with energy efficiency as part and parcel of every design. Units are built to bring in natural light and ventilation, LED

Home

Simple way to make your kitchen smarter

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Building happy, healthy, secure and thriving communities is the heart of sustainable living, as exemplified in SMDC

fixtures are used and a waste management system is in place.

Every development is built with disasterresiliency and future-readiness in mind—from site selection to construction and beyond.

SMDC’s property management personnel are trained to respond quickly to emergencies of all kinds. These trainings are made available to residents through regular workshops.

Being situated where all of life’s daily essentials are within walkable distances, not only encourages residents to walk, jog or bike, but also allows them to become stewards of the Earth by reducing their carbon footprint.

SMDC’s sprawling amenities and activity areas encourage residents to spend more time outdoors, savor Nature and reduce energy consumption.

More than just existing

Sustainability is built around the concept of continued existence for people. But to con-

investment in the Teleperformance Cebu Building acquiring it in September using primary proceeds from the initial public offering, which quickly contributed to the company’s operating income.

As part of its growth strategy, the company also acquired in January of this year The 30th, a 75,000sq m commercial development located in Pasig City. In the same month, AREIT also acquired 98,000 square meters of land located at Laguna Technopark currently leased

by Integrated Micro-Electronics Inc. for its manufacturing business.

Right now, AREIT’s total assets has grown from 153 thousand during its IPO to 344 thousand square meters of gross leasable space, including land that is directly leased and generating income. The company’s total deposited property is valued at P37 billion.

“Operations remained strong throughout the year. Business resilience, health and safety of all our building locators and service personnel were our focus areas as all our properties remained open throughout the pandemic,” added Mills.

AREIT said it aims to provide a 10 to 12 percent total shareholder return per year through organic growth and new acquisitions.

with an end-goal of delivering first-world Internet connectivity for every Filipino.

Globe’s initiative to provide state-of-the-art telecom infrastructure and innovative solutions are in line with the United Nations Sustainable Development Goals, specifically Goal No. 9 that aims to build resilient infrastructure, promote sustainable industrialization, and foster innovation.

Marking its 90th year in the business this 2021, Ortigas Land is committed to continuously develop master-planned communities in the country. Other properties of the developer include Circulo Verde in Quezon City and Greenhills Center in San Juan City.

Taking sustainable living to heart ITY life is often compared to an urban jungle where people merely exist in a given space, in a given time.

But what if space and time are rediscovered with fulfillment felt by the dwellers in a community that thrives in sustainability of living?

What if time and space are elements that give birth to economic advancement, environmental preservation and community progress?

The one thousand and one “what-ifs” are a thousand and one realities SMDC offers to people who deserve a thousand and one more chances of a life of quality. Not only today, but also in the years—many, many years—to come.

“Making cities sustainable means creating career and business opportunities, safe and affordable housing, and building resilient societies and economies,” the United Nations has said. Because today and tomorrow are important to SMDC, its communities are designed and run based on three sustainability pillars: economic, environmental and social.

aiming to increase their properties’ asset value to make them more attractive investments. “REIT-listed properties tend to be better managed and maintained to make them attractive for tenants to move in.

Therefore, it becomes an attractive income-generating property for REITs,” he said.

Philip Mareschal, JLL Philippines’ head of property and asset management, pointed out the importance of contracting thirdparty property managers to uphold transparency and discover innovative ways of protecting, or even increasing, the asset value to maintain the REIT. He pointed out that REITs could be also an attractive and substantial investment alternative vehicle for investors.

In a related development, AREIT Inc., the real-estate investment trust of property colossus Ayala Land Inc. (ALI), achieved a milestone when it earned P1.23 billion last year, 42 percent higher than the previous year.

“As the first Philippine REIT, AREIT performed consistently, delivering dividends and growing its assets,” Carol Mills, president and chief executive officer of AREIT said in a press statement.

In 2020, ALI made a strategic

tinue to exist, i.e., to extend today’s lives and to continue life for the future, means being in a place where health and happiness are given primary importance. SMDC’s properties allow residents to take care of their physical, mental and emotional health through spaces designed for these activities, spaces that encourage the creation of social connections, the very concept of community building.

But mere spaces are not enough. There has to be a catalyst to make these connections, and community spirit, come to life. SMDC’s The Good Guys program, enables SMDC communities to come together in the spirit of conviviality, to provide for both economic and social progress for residents, and to extend this altruism beyond its communities.

There is no life in mere existing. To live is to exist sustainably.

In a given space and a given time, SMDC creates the space for people to live today and to continue to survive the challenges of time.

OME is where the heart is.” This could not be truer than now when most of our time revolves around the four corners of our abodes. Though some of us feel that our worlds have become smaller because of the restrictions we have to observe, there are also those who found newfound passions in turning their private spaces into their very own havens.

For example, anyone who has been following social-media trends knows the increase in interest in home renovations, indoor plants, and other activities that we can enjoy without having to leave our houses. Of course, we cannot leave out those who turned their interests to cooking by trying to become true masters of their kitchens.

If you think about it, there really is no downside to this newfound love. People who have always enjoyed a good balance of going out and staying in can attest to this—for them, enjoying your time at home and making the most out of it is a form of sophisticated lifestyle in itself. As some passions shifted and others strengthened, many of us also started to become more discerning in choosing the home partners that we invest in.

This is very evident when it comes to preparing home-cooked meals since many of us now forego going out just to grab a bite or two. The good news is that there is definitely no shortage of high-quality kitchen essentials that can help deliver the same quality and experience of dining out now.

At least this is the truth for Breville (www. breville.com.ph/the-smart-oven-air-fryer), an Australian kitchen brand that has perfected the manufacturing of appliances that not only help

common kitchen dilemmas but also allow users to be masters of their own kitchens. Its userfriendly, sophisticated designs and continuous innovations in its technology have earned it a solid following in the 50 countries where it is distributed, the Philippines included.

One of the best examples of its products that perfectly capture its brand essence is its series of Smart Ovens. Now on its 11th year of being distributed in the Philippines, Breville is once again releasing an improved version of this best seller: the Smart Oven Air Fryer.

The timing for this new kitchen master could not be more perfect. Similar to its predecessors, this version packs a punch when it comes to features that are perfect for both pro and novice cooks, though it is made so much better thanks to its air frying feature and other functions that just got smarter. This is a welcome surprise for everyone, especially since, air frying has increased in popularity lately due to people wanting to enjoy their favorite fried meals without having to worry about their health.

Its dedicated air fryer setting uses maximized airflow and high temperatures to fry fried favorites like chicken wings and french fries in a guilt-free way. Moreover, its Super Convection feature, combined with higher temperatures, delivers delicious, crispy golden air fried foods.

Last, users of this smarter version of Breville oven do not have to worry about using this technology. Like its other products, the Smart Oven Air Fryer is designed for ease of use with its simple yet needed features like its digital LCD Display and interior oven light.

Reni Salvador

NORTH KOREA TO SKIP OLYMPICS S EOUL, South Korea—North Korea became the first country to drop out of the Tokyo Olympics because of coronavirus fears, a decision that underscores the challenges facing Japan as it struggles to stage a global sporting event amid a raging pandemic.

A website run by North Korea’s Sports Ministry said its national Olympic committee during a meeting on March 25 decided not to participate in the Games to protect athletes from the “world public health crisis caused by Covid-19.”

The pandemic has already pushed back the Tokyo Games, which were originally scheduled for 2020, and organizers have scrambled to put in place preventive measures, such as banning international spectators, to ensure the safety of athletes and residents.

However, there’s still concern that the Olympics could worsen the spread of the virus and Japan’s rising caseload and slow vaccine rollout have raised public questions about whether the Games should be held at all.

Japan’s Olympic Committee said Tuesday that North Korea has not yet notified it that it wouldn’t participate in the Tokyo Games.

Katsunobu Kato, Japan’s chief cabinet secretary, said the government hopes many countries will join the Olympics and he promised ample anti-virus measures.

South Korea’s Unification Ministry expressed regret over the North’s decision, saying it had hoped that the Tokyo Olympics would provide an opportunity to improve inter-Korean relations, which have declined amid a stalemate in larger nuclear

negotiations between Washington and Pyongyang.

North Korea sent 22 athletes to the 2018 Winter Olympics in South Korea, along with government officials, performance artists, journalists and a 230-member all-female cheering group.

At the Pyeongchang Games, the North and South Korean athletes jointly marched under a blue map symbolizing a unified Korean Peninsula, while the red-clad North Korean cheerleaders captivated global attention. The Koreas also fielded their first combined Olympic team in women’s ice hockey, which drew passionate support from crowds despite losing all five of its games by a combined score of 28-2.

Those games were also much about politics.

The North Korean contingent included the powerful sister of North Korean leader Kim Jong Un, who conveyed her brother’s desire for a summit with South Korean President Moon Jae-in, a move that helped the North initiate talks with South Korea and the United States.

Diplomatic efforts have been at a stalemate since, and North Korea’s decision to sit out the Tokyo Olympics is a setback for hopes to revive it.

While North Korea has steadfastly claimed to be coronavirus-free, outsiders have expressed doubt about whether the country has escaped the pandemic entirely, given its poor health infrastructure and a porous border it shares with China, its economic lifeline.

Describing its anti-virus efforts as a “matter of national existence,” North Korea has severely limited cross-border traffic, banned tourists, jetted out diplomats and mobilized health workers with quarantine tens of

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Pandemic won’t beat online games

“Even before they left for Thailand last month, we presented them a scenario that they would be heading straight to Tokyo. And they understood,” Picson said.

Picson said that on top of strict travel restrictions, the goal of pushing the boxers’ training to the highest level is the most important.

“We’ve talked about it that their overseas training might be extended all the way up to the Olympics. No chance to come home,” Picson told

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OSTING the Asia-Pacific Predator League 2020 to 2021 at the height of the Covid-19 pandemic makes online gaming competitions grow even faster around the world, according to Acer Pan Asia Pacific Regional

Knott runs closer to clinching 100m berth in Tokyo

| Wednesday, April 7, 2021

mirror_sports@yahoo.com.ph Editor: Jun Lomibao

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A WOMAN wearing a protective mask walks near banners for Tokyo 2020 Olympic and Paralympic Games in Tokyo. AP thousands of people who had shown symptoms.

Japanese Prime Minister Yoshihide Suga previously said he expected to invite US President Joe Biden to the Olympics and was willing to meet with Kim Jong Un or his sister if either attended the Games. Suga, however, did not say if he will invite either of them.

Experts say pandemic border closures have further shocked North Korea’s economy, already broken by decades of mismanagement, aggressive

No going back home for Olympic boxers from Thai training camp HE three Filipino boxers currently training in Thailand could be heading straight to Japan with only 107 days to go before the Tokyo Olympics.

Association of Boxing Alliances in the Philippines (Abap) Secretary-General Ed Picson told Tuesday’s online Philippine Sportswriters Association Forum that Olympic qualifiers Nesthy Petecio, Irish Magno and Carlo Paalam doesn’t have the luxury of time as they complete their training camp in Thailand.

KRISTINA KNOTT clocks better in Florida race.

the forum presented by San Miguel Corp., Milo, Amelie Hotel Manila, Braska Restaurant and the Philippine Amusement and Gaming Corp.

The fourth qualifier, Eumir Felix Marcial, has been training at the Wild Card Gym in Los Angeles since October.

Picson said they are convincing Marcial to join the team in Thailand, assuring the pro boxer that he will be provided quality sparring partners while he trains with his countrymen.

Operations President Andrew Hou. “There’re a lot of countries that host games [via] online, even if we cannot do it offline.

So the challenge is to do it offline and online, depending on the situation,” Hou told an online

military spending and crippling US-led sanctions over its nuclear weapons program.

The economic setbacks have left Kim with nothing to show for his ambitious diplomacy with former President Donald J. Trump, which derailed over disagreements in exchanging the release of sanctions and the North’s nuclear disarmament steps.

Kim in recent political speeches has pledged to bolster his nuclear deterrent in face of

US-led pressure, and his government has so far rejected the Biden administration’s overture for talks, demanding that Washington abandon its “hostile” policies first.

The North ended a yearlong pause in ballistic testing activity last month by firing two short-range missiles off its eastern coast, continuing a tradition of testing new US administrations with weapons demonstrations aimed at measuring Washington’s response and wresting concessions. AP

“The training in Thailand will be an Olympics style training and not a professional style,” Picson said. “So it might be better for Eumir to join the rest of the team there.”

Seven other members of the national team and five coaches led by Nolito Velasco are in Thailand as part of the preparations for the Hanoi Southeast Asian Games in November.

“We have other boxers in Thailand helping our Olympians train, and at the same time raise their level heading to the SEA Games,” said Picson in the forum powered by Smart with Upstream Media as webcast partner.

From Thailand, the Filipino boxers will compete in the Asian Championships starting on May 21 in New Delhi. And if the Covid-19 situation allows, they might stay longer in the Indian capital to train.

“Then they return to Thailand. Actually, we’re looking at other places or other countries where they can train but it depends which country is willing to let us in,” Picson said.

The Olympics are set from July 23 to August 8.

press conference on Tuesday. “That is why we decided to do this in 2021 to learn and practice.”

“We will continue doing this even if the Covid-19 pandemic continues until next year,” added Hou, referring to the e-sports competition that gathers top teams from 17 regions vying in Dota 2 and PUBG and cash prizes totalling $400,000.

There will be four champions in the sub-tournaments—two each for Dota 2 and PUBG. The league will be aired live on Acer Predator’s channels, Facebook and Twitch.

Teams from the Asia Pacific regions—among them from Singapore, Vietnam, Malaysia and Taiwan—are competing in the event.

The Asia-Pacific Predator League 2020-2021 Grand Finals will run online until April 11.

Josef Ramos

TEST EVENT

China’s Yang Yixi and Deng Shun Yuyao perform their pairs short program routine during a test event for the 2022 Beijing Winter Olympics at the Capital Indoor Stadium in Beijing on Tuesday.

Organizers started 10 days of testing for several events in five different indoor venues in Beijing, the first city to hold both the Winter and Summer Olympics. AP

Ozamis, Tawi-Tawi join VisMin hoops

O

ZAMIS City and Tawi-Tawi decided to join the Mindanao leg even before the Visayas leg of the VisMin Super Cup kicks off on Friday.

The Ozamis team is owned by Ramoncito Talisayon while the Tawi-Tawi squad is owned by Wesley Allen Sun. This early, Talisayon and Sun are excited to find out how their teams will fare against other

powerhouse squads from Mindanao.

Talisayon and Sun assured Rocky Chan, COO of VisMin Super Cup, that they will be fielding competitive teams for the tournament slated to start after the Visayas leg set in Alcantara, Cebu, ends.

Campus Clutch qualifiers up

T

HE Red Bull Campus Clutch: Valorant reels off with seven qualifiers this month leading to the national finals in May and the regional finals in June.

The qualifiers are set on April 10, 11, 17, 18, 23 and 24 with the Last Chance Qualifier set on April 25.

The event is the first of its kind in the Philippines. Students could represent their schools and compete on a national level.

The event is held in collaboration with multiple sponsors including AOC, SteelSeries and Intel NUC. College students in the Philippines ages 18 and

Why not just one conference again?

Al Mendoza | alsol47@yahoo.com

THAT’S ALL I THINK it’s just right if the Philippine Basketball Association (PBA) moves its opening in May—or even at a later date.

Even better, it adopts the bubble platform again. With its success in 2020, I don’t see any reason why it won’t achieve the same results if and when it is done again this year.

With the pandemic’s rage not seen to die down that fast, it’s really high time that we take measures, drastic they may seem, to adapt to the virus’ penchant for viciousness.

While it is, indeed, expensive when it was held the first time at Clark—not to mention the mental and physical toll it brought to all the players, coaches and the entire PBA personnel all clustered in the bubble—it was all worth it in the end.

RISTINA KNOTT clinched another silver medal in a 100-meter race in the US on Monday, but the Filipino-American still has work to do to qualify for the Tokyo Olympics.

Knott clocked 11.36 seconds to settle for the silver behind Ecuador’s Angela Tenoria (11.33) at the Pure Athletics Invitational in Clermont, Florida. American Quanera Hayes (11.38) completed the podium.

Knott improved on the 11.54-second clocking she booked in clinching a silver medal at the Clyde Littlefield Texas Relays last March 27 but has yet to get closer to the Olympic qualifying time for the event of 11.15 seconds.

“I’m preparing to reach the qualifying time by executing my race pattern every competition,” Knott told BusinessMirror in a phone interview.

Knott’s personal best stands at 11.27 seconds, a new Philippine record she set at the Dark Blue Oval meet in Iowa last August 30 and broke former Asian Sprint Queen Lydia de Vega’s 33-year-old record by one-hundredths of a second.

“Running with people faster than me helps me in pushing myself to reach my highest potential,” said the 25-year-old Knott.

Her opponents in Florida were no pushover—Tenoria, 25 and currently No. 60 in the world in the 100m, has a personal best of 10.99 and is a former South American Championships gold medalist, while the 29-year-old Hayes’s best time stands at 11.27 but has two US national outdoor and indoor 400m gold medals.

Knott is ranked No. 115 in the 100m and No. 101 in the 200m.

But the 200 tolled on Knott, who clocked 23.61 for seventh place in a 21-runner field in the same Florida race won by Bahamas’s Shaunae Miller-Uibo (22.03) with Hayes (22.68) clinching silver and American Lynna Irby (22.75) bagging the bronze. No one made the 22.80-second qualifying time for Tokyo.

That clocking was way below the 23.01 seconds Knott recorded in clinching the gold medal in the 2019 Southeast Asian Games.

Next up for Knott are the Miramar Invitational on Saturday and Gainesville on April 17, both in Florida. Miguel La Torre

Money can be earned, but lost opportunities can be hard to recover. So, bite the bullet if need be.

For the sake of the so-called basketball republic.

To quote PBA commissioner Willie Marcial: “April is off. We can’t do that anymore...Teams need at least two to three weeks to get in shape before we can even begin the season.”

And, if I may add another one: Let’s make it a one-conference season again? While two conferences are fine over a six-month period, the risks involved may prove too much in the end. But with just one conference, bigger are our chances to escape the wrath of the coronavirus.

Less movement, good. Less exposure, the better. Less contact, the best.

It’s not the quantity but the quality. With one

According to Talisayon, Ozamis intends to bring honor and distinction to the city in Misamis Occidental through sports, while Sun said Tawi-Tawi, an island province in Southern Mindanao, aims to showcase the authenticity and beauty of the place.

The Ozamis and Tawi-Tawi teams will be pitted against the Pagadian Explorers, Roxas Vanguards, Cagayan de Oro Rafters, Sindanang Saints, Zamboanga City Los Valientes, and the Basilan Peace Riders. above, with their own Steam and Discord accounts, can sign up to compete in several phases.

The best team from each round will advance to the national finals on May 22 and the winner will represent the country in the regional finals for a chance to compete in the world finals in July.

The event has the Youth Esports Program as partner through a collaboration between Mineski Philippines and the Philippine Collegiate Champions League. Registration is ongoing through www.redbullcampusclutch.com/ph. conference, as in a Philippine Cup again, we even do away with imports. Imagine the expenses saved.

Not to mention the rigors of health protocols these aliens will have to go through.

Simplification is the call of the times.

THAT’S IT With his recent nail-biting win in the Texas Open, Jordan Spieth is suddenly a force to reckon with in the Masters teeing off on Friday (PH time). Winless since his 2017 British Open victory, Spieth, 27, has become a wise-money bet in the first major of the year in Augusta, Georgia. His Masters triumph in 2015 at the age of 21 made Spieth an instant poster boy in golf. He followed that up with a US Open win in the same year before piling up 10 PGA Tour wins, capping his run by taking home the Claret Jug in the 2017 British Open for his 11th career victory. Then came his inexplicable slump lasting nearly four years. Now that he’s a winner again, expect the old Spieth to fly high anew, starting with the Masters...I bid farewell to my dear buddy, George Alcantara, who succumbed to Covid-19 Monday. He was the most trusted lieutenant of the late, lamented Rudy Salud, a former commissioner of the Philippine Basketball Association who wrote the PBA By-Laws and Constitution. Reunited in the Great Beyond, the duo will be all laughter and joy again.