BusinessMirror April 08, 2020

With extension, selective ECQ calls rise

By Samuel P. Medenilla & Jovee Marie N. Dela Cruz

A

S the government announced on Tuesday the extension of the enhanced community quarantine (ECQ) in Luzon up to end-April to buy more time for it to employ its “test-andisolate” tactic against the novel coronavirus disease (Covid-19), calls mounted for a modified, area-specific lockdown to mitigate the continuing damage to businesses and jobs.

A leader of the House of Representatives said the extension should be a modified, areaspecific lockdown to “reboot certain businesses along with the government’s infrastructure buildup program in order to rejuvenate the economy even before the coronavirus pandemic is over.”

In an online press briefing Tuesday morning, Cabinet Secretary Karlo Nograles said President Duterte approved the recommendation of the Inter-Agency Task Force for the Management of Emerging Infectious

A WOMAN who used to earn a living inside a parlor doing manicure/ pedicure now does her business outside, as people practice social distancing, in Las Piñas City. She said she may not be earning a lot from this setup, but it definitely helps her family survive each day. NONIE REYES

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Diseases (IATF) to reset the initial date for the end of the ECQ from April 13, 2020, up to 11:59 pm of April 30, 2020.

Target capacity

NOGRALES said the extension will help the Department of Health (DOH) achieve its target of raising the country’s number of Covid-related tests to 8,000 to 10,000 per day before the end of the month.

As of Saturday, the DOH said the country's testing capacity is at 900 to 1,200 per day.

Nograles said the testing capacity is expected to improve to 2,600 to 7,000 per day

by April 13, 2020, a day before the scheduled start of the mass testing for Covid-19 to be implemented by the DOH.

For this purpose, the IATF approved the Guidelines for Covid-19 Mass Testing, which Nograles explained will still focus on those with a high risk of being infected by the virus.

Among the people prioritized for testing are those with severe symptoms with history of travel and/or contact; have mild symptoms and

vulnerable with history of travel and/or contact with a Covid-19 patient; have mild but not vulnerable with a history of travel and history of contact with a Covid-19 patient; and those who are asymptomatic but with history of travel and history of contact with a Covid-19 patient.

“There should be a reason why you will be tested. It should not just because you wanted to be tested,” Nograles said.

He said the higher testing capacity is crucial in the plan to immediately identify Covid-infected patients and then isolate them in established quarantine facilities to prevent further spreading the disease.

This will go with contact tracing of the people who interacted with the infected person.

Nograles said the current testing capacity of the country is insufficient to effectively implement the said plan if the ECQ is relaxed as scheduled.

Delayed spike

expected to surge if the ECQ in Luzon is finally relaxed.

“It is expected to soar since everybody will be allowed to move again. So, what do we need to do? That is to increase our testing capacity,” Nograles said.

As of Monday, the DOH reported 3,660 confirmed Covid-19 cases in the country, with 163 deaths and 73 recoveries.

The projected worst-case scenario of the World Health Organization (WHO) said Covid-19 cases in the country could reach 75,000 if the government fails to implement tough measures to contain it.

New normal

NOGRALES said extending the ECQ will give enough time for the IATF technical working group led by the National Economic and Development Authority to craft guidelines to set the “new normal” wherein social distancing will still be strictly enforced for business operation.

MODELS presented to them by medical experts, Nograles said, showed the number of cases is

See “ECQ,” A2

BusinessMirror A broader look at today’s business

In observance of Holy Week, the BusinessMirror will not publish its print version from April 9 to 12, but will continue posting urgent breaking news at businessmirror. com.ph.

JOB LOSSES FROM VIRUS TO HIT 200M–ILO REPORT www.businessmirror.com.ph

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Wednesday-Sunday, April 8-12, 2020 Vol. 15 No. 181

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MARCH 2020 INFLATION SLOWS TO 2.5%, BUT FOOD PRICES HIGH

ASSORTED fruits and vegetables are seen at a stall at the Farmers’ Market in Araneta Center in Quezon City. Amid the Luzon-wide lockdown, the Philippine Statistics Authority noted food prices were higher even though overall inflation had slowed to 2.5 percent. BERNARD TESTA

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MEMBERS of the District Mobile Force Battalion of the Pasig City Police get their dose of sanitizers as they disinfect themselves after their shift in Barangay Maybunga, Pasig City. BERNARD TESTA

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By Samuel P. Medenilla

LOBAL business disruptions and the economic slowdown caused by the novel coronavirus disease (Covid-19) are now expected to cost around 200 million workers their jobs, based on latest estimates of the International Labour Organization (ILO). The new figure is eight times more than the ILO’s initial estimates when the pandemic was just starting to spread.

PESO EXCHANGE RATES n US 50.7620

This has led the labor arm of the United Nations to tag the pandemic disease as the worst global crisis since World War II in terms of employment losses.

In its second monitoring report on the impact of Covid-19 on the world of work, ILO issued a bleaker forecast for workers this year, saying the pandemic could cause “catastrophic” displacement of 195 million full-time employees, mostly in the accommodation and food services, manufacturing, retail, and business and administrative activities.

The Asia and the Pacific region

is expected to suffer the biggest job losses at 125 million full-time workers. It was followed by Europe with 12 million and the Arab states with 5 million.

“Workers and businesses are facing catastrophe, in both developed and developing economies,” ILO Director-General Guy Ryder said in a statement.

Initial estimate

IN its initial report last month, ILO estimated the business effects of Covid-19 to spell the retrenchment of only around 25 million workers.

By Cai U. Ordinario

HE increase in commodity prices continued to slow in March, according to the latest data released by the Philippine Statistics Authority (PSA), though the inflation data for food showed still-higher prices, a fact seen as owing to the effects of Covid-19.

PSA data showed inflation slowed to 2.5 percent in March, slower than the 2.6 percent posted in February and 3.3 percent in March 2019.

National Statistician Claire Dennis S. Mapa said this means inflation in the first quarter of this year averaged 2.7 percent. This is slower than the estimated average of 3.8 percent last year.

“The slowdown in March 2020 inflation was primarily due to transport whose index dropped at an annual rate of 1.8 percent,” Mapa said. “Specifically, petroleum and fuels for personal transport equipment decreased at an annual rate of 12.3 percent in March 2020, from an annual increase of 1.2 percent in February 2020.”

Data also showed the slowdown in inflation was due to slower increases on ferry/ship fare at 12.5 percent in March from 39.3 percent in February, as well as domestic airfare to 1.8 percent in March from 4.9 percent in February.

Price increases for housing, water, electricity, gas, and other fuels also slowed in March on the back of cheaper kerosene and electricity prices.

There was also a slowdown in the annual increase of LPG prices at 3.6 percent in March 2020 from 10.8 percent in February 2020.

Mapa added the slowdown in overall inflation was due to the slowdown in the increase in price of “sin products,” specifically alcoholic beverages and tobacco.

See “Inflation,” A2

See “Job Losses,” A2

n JAPAN 0.4648 n UK 62.1073 n HK 6.5489 n CHINA 7.1558 n SINGAPORE 35.4483 n AUSTRALIA 30.8582 n EU 54.8027 n SAUDI ARABIA 13.5041

Source: BSP (April 7, 2020)

News BusinessMirror

A2 Wednesday-Sunday, April 8-12, 2020

Job losses…

Continued from A1

The revision—the eight-fold rise in estimates—came after ILO made use of the “nowcasting” model which relies on real-time economic and labor market data to predict loss in working hours in the second quarter.

Currently, ILO said the Covid pandemic has forced the employers of 81 percent of the world’s 3.3 billion workforce to undergo full or partial closure.

The impact of Covid, ILO noted, is worse for the 2 billion workers in the informal sector, where “a sudden loss of income is devastating.”

In the Philippines, the government expects the crisis will affect 1.8 million workers.

ILO is now pushing for a united international response to the Covid-19 crisis by creating the necessary fiscal and monetary policy; providing employment retention policies for companies and social protection for workers; implementing the necessary work arrangements during the Covid crisis and stopping discrimination against those affected by disease; and fostering social dialogue during crisis.

ILO said the interventions should focused on the “hardest hit” sectors to ensure “conditions for a prompt, job-rich recovery once the pandemic is under control.

This, Ryder said, is the greatest test for international cooperation in more than 75 years. “If one country fails, then we all fail.”

Moving “fast, decisively and together” is imperative, he said.

“The right, urgent measures could make the difference between survival and collapse.”

From 10% investment growth goal, Peza’s hopes crash on virus woes

By Elijah Felice Rosales

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HIS was not how the Philippine Economic Zone Authority (Peza) pictured it. Entering the year, the regulator of economic zones set a target of growing its investment haul by 10 percent, only to begin the first quarter with a double-digit slump on the confluence of numerous crises.

Investments registered with the Peza in the first quarter declined close to 28 percent to P16.49 billion, from P22.9 billion during the same period last year, according to official records. Worse, not a single peso was recorded in March, as board members were unable to convene.

The first-quarter registrations translated into 87 fresh projects as against the 128 in 2019.

Further, shipments made by economic zone locators crashed by more than 66 percent to $4.36 billion, from $12.94 billion. The Peza traced the steep declines in both investment and export figures to the calamities that struck the Philippines, particularly Taal Volcano’s eruption in January and the Covid-19 pandemic.

As the whole of Luzon remains under community quarantine—extended by President Duterte up to April 30—exporters were allowed to keep operating for as long as they house their workers near plants to

ECQ…

Continued from A1

He said the government hopes the measures will allow them to stall the spread of Covid-19 up to 2021, by which time, it is hoped, a vaccine would have been developed.

Selective lockdown

www.businessmirror.com.ph

DEPUTY Speaker for Finance Luis Raymund Villafuerte, a member of the Joint Congressional Oversight Committee, said a modified, area-specific lockdown will keep most people at home but it is vital to allow the resumption of certain businesses, especially those in vital sectors like food and health industries, to revive the economy and ensure the steady supply of foodstuff, medicines, health products and protective equipment.

“Certain businesses need to reopen, subject of course to the strict observance of social distancing and hygiene protocols by employers and their employees, in order to somehow revive the domestic economy this early after its sudden stop, following the implementation of personal movement restrictions in Luzon and other parts of the country to stop the quick spread of Covid-19,” he said in a statement.

Also, he said the President’s signature initiative “Build, Build, Build” must be put back on track as infrastructure investments offer the highest multiplier effects, including job generation, on the economy—and could thus stimulate high growth even while the health crisis is still raging across the globe.

“The President’s ‘Build, Build, Build’ is an engine of growth and should thus be put back on track during the extended ECQ period. The revival and acceleration of infrastructure investments are guaranteed to re-ignite economic activity and create jobs, especially for a lot of Filipino workers dependent on the ‘no-work, no-pay’ setup who have lost their means of livelihood when the domestic economy ground to a halt last month,” he added.

Meanwhile, Villafuerte said that if more funds are needed for social amelioration or to beef up the protection and resources of our frontline health-care workers in fighting the pandemic, the Department of Budget and Management (DBM) should consider realigning funds for nonessential items in the 2020 General Appropriations Act (GAA) to this purpose.

He proposed anew to the DBM to take “a long hard look” at adjusting 2020 GAA items for nonessential expenditures, so would-be savings can augment public funds for the protracted battle against Covid-19.

Villafuerte said that “forced savings in nonessential spending such as those on foreign travel or the purchase of brand-new official vehicles plus office supplies and equipment should go to a pool that the national government could use to expand and extend its programs to cushion the economic fallout from the pandemic and to better equip the country’s health workers in saving lives and treating infected Filipinos.”

He said the DBM should also look at realigning 2020 allocations for, among others, the Armed Forces modernization program, whose procurements could be made later after the pandemic; the budget for the 2020 Tokyo Olympics that has been postponed to next year; and the outlays for tourism expos and investment roadshows abroad, as the internal travel and business communities are obviously in no mood to entertain such activities at this time amid the global health crisis.

PLAZA: “Everybody is at halt, though we have many pending applications before the pandemic [reached here], affecting expansion plans; construction of plants of new investors for lack of workers [and] raw materials, and costly housing; and other quarantine measures to be complied with as our requirement to continue operations despite Covid.”

spare them of the hassle of passing through checkpoints daily.

However, not everyone has the liquidity to shell out more money for workers’ temporary shelter.

This is one of the reasons, on top

of restricted movement of people and goods, that only 78 percent of economic zone firms in Luzon are operating as of weekend.

Peza’s view

IN an interview with the BusinessMirror, Peza Director General Charito B. Plaza said many investment applications were submitted to the agency before things got worse, but are now on hold, as it will be difficult to implement projects with a lockdown in place.

She said the issue lies in the suspension of work and disrupted transport of goods, making it difficult to build new factories for lack of labor and raw materials. Moreover, some investors just lack the financial capacity to provide temporary shelter for their workers.

“Everybody is at halt,” Plaza admitted, “though we have many pending applications before the pandemic [reached here], affecting expansion plans; construction of plants of new investors for lack of workers [and] raw materials, and costly housing; and other quarantine measures to be complied with as our requirement to continue operations despite Covid.”

Plaza was really expecting the President to extend the quarantine in order to flatten the curve on Covid-19 cases. However, she was hoping changes would be introduced in the protocols, such that regular work will resume and containment efforts be concentrated on hotbed areas of the virus.

She and several business groups have been pushing a selec-

tive, or modified or targeted lockdown so that only areas deemed virus hot zones are affected.

The Peza can no longer take another year of investment losses, as it tries to recover from two consecutive double-digit declines. Last year investments applied to the agency slipped by over 16 percent to P117.54 billion, from P140.24 billion in 2018, on uncertainties brought about by the government’s move to rationalize fiscal incentives.

Economic zones, which the Peza regulates, employ nearly 1.6 million workers nationwide and contribute a huge sum of the country’s export total.

For two years now, the Duterte leadership has been pushing for the passage of the Corporate Income Tax and Incentives Rationalization Act (Citira) bill, a measure opposed by companies operating in economic zones. The Citira bill will cut corporate tax to 20 percent in 10 years on one end, but will overhaul incentives granted to investors on the other.

Locators, mostly multinationals, warned that lifting their tax perks, particularly the 5-percent tax on gross income earned in lieu of all local and national taxes, will compel them to pack up their operations here and transfer to another Southeast Asian economy.

The Joint Foreign Chambers of the Philippines put potential job losses at above 700,000 once the Citira bill is passed. The measure was approved by the House of Representatives last year and awaits passage in the Senate.

PHL must invest more in nursing or face 250K gap in ’30–WHO

By Claudeth Mocon-Ciriaco

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NLESS the Philippines makes a greater investment in nursing, it is projected to lack almost 250,000 nurses by 2030.

The warning is contained in a report of the World Health Organization (WHO), which projected the shortfall of nurses at 249,843, unless greater investment is made now to retain them.

As the number of Covid-19 cases keeps rising worldwide, the WHO released on World

Health Day a report which highlighted the global shortage of nurses worldwide.

By 2030, the WHO’s State of the World’s Nursing 2020 report projects that, without action, there will be a shortfall of 4.6 million nurses worldwide.

State of the World’s Nursing 2020 paints a picture of a complex health labor market challenges.

For the Western Pacific, WHO Regional Director Dr. Takeshi Kasai said the case for investing in the nursing workforce has never been “clearer.”

“Right now, nurses are on the front lines of the Covid-19 fight, working tirelessly to save lives and protect others in their community,” Kasai said.

“Governments across the Western Pacific Region must invest in strengthening their nursing workforce as an essential part of preparedness for health challenges such as emerging infectious diseases, but also the health challenges brought about by climate change, ageing populations and a growing burden of noncommunicable diseases,” he added.

In the case of the Philip-

pines, only 50 percent to 60 percent of nursing graduates become professional nurses who are eligible to practice as nurses in the country.

“The Philippine government, as well as the private sector, will need to address issues on uncoordinated production and inequitable distribution by promoting decent jobs and local opportunities for career development, if they are to retain an adequate number of appropriately trained nurses for the needs of the health system,” Continued on A5

DPWH, EEI, Villar Group complete PICC Forum PHL cases now 3,764; DOH cites experts’ Halls construction of Covid-19 facility in 7 days

work in assessing data

Pasa

T

HE Department of Public Works and Highways (DPWH), with the support of private firms EEI Corporation and the Villar-led Vista Land Group, has completed the construction works of the health facility at Philippine International Convention Center (PICC) Forum Halls in just seven days.

Secretary Mark A. Villar announced that civil works for the makeshift hospital at PICC Forum Tent are already completed with 294 patient cubicles, six nurse stations, and six smart houses outside the Forum building for the health workers.

The PICC Forum site was one of the three prioritized for conversion into health facilities for Covid-19 cases— for infected patients, or those persons under investigation and persons under monitoring—under a governmentprivate partnership meant to

WORKERS rush cubicles at the PICC Forum Tents in Pasay City so they can be ready for Covid-19 patients by April 15. ROY DOMINGO

prevent hospitals from being overwhelmed and unable to respond adequately as the pandemic spreads.

The two other priority sites, now also ready, are the Rizal Memorial Sports Complex in Manila and the World Trade Center in Pasay City.

“With the DPWH-EEIVillar Group Team working 24/7, we finished the

job quickly ahead of the 10 days’ work programmed for conversion of PICC Forum Tent,” said Secretary Villar on Tuesday.

The fully air-conditioned health facility at PICC complex will soon cater to patients with mild to moderate cases of coronavirus disease (Covid-19) once medical Continued on A5

THE total number of confirmed Covid-19 cases in the country rose to 3,764 with 84 recoveries and 177 deaths, the Department of Health said on Tuesday.

Health Secretary Francisco T. Duque III said that as of 4 pm (April 7), 104 new cases (PH3,661-PH3,764) of Covid-19 were reported.

Duque said 11 new recoveries and 14 new deaths were recorded.

Meanwhile, the DOH lauded the scientific community that helped develop the evidence needed by the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) to recommend the appropriate steps for the country to beat Covid-19.

“Each group used their own models based on the technology that they have.

In this way, we are assured that science is the basis of the IATF’s decision to extend the period of the enhanced community quarantine in Luzon,” said Duque during the Beat Covid-19 virtual presser.

He noted the Sub-Technical Working Group on Data Analytics is composed of groups from the Philippine Council for Health Research and Development, Department of Science Continued on A5

Inflation…

Continued from A1

“Specifically for this commodity group, the annual rate for cigarettes slowed down to 22.5 percent in March 2020, from 23.4 percent in February 2020,” Mapa said.

High food costs

DESPITE the slowdown in overall inflation, food inflation continued to increase to 2.6 percent in March. This is faster than the 2.1 percent posted in February but slower than the 3.1 percent posted in March 2019.

Mapa said fish prices were high with a 10.5-percent inflation posted in March 2020; followed by fruits, 9.9 percent; vegetables, 8.1 percent; food products, not elsewhere classified, 7.1 percent; and oils and fats, 1.3 percent.

He noted that food and non-alcoholic beverages continued to account for the bulk of the country’s Consumer Price Index (CPI) and, consequently, inflation.

Food and non-alcoholic beverages, with an annual rate of 2.6 percent, accounted for 45 percent of overall inflation.

This was largely due to higher prices of fish, vegetables and meat.

Effects of Covid-19

FOR his part, Socioeconomic Planning Secretary Ernesto M. Pernia said this could be one of the effects of the spread of Covid-19.

With this, Pernia said the government must implement seamless delivery of necessities and strict enforcement of price-control measures. These are needed to avoid possible profiteering of unscrupulous traders and retailers.

“We need to provide post-harvest facilities and logistic support, in close coordination with the local government.

Initial field reports show that supply, particularly of agricultural commodities, is adequate but suppliers are having problems getting their produce to the market, to help affected essential industries produce and deliver their goods and services to the market,” Pernia said.

He said the Department of Agriculture and some local government units have started buying the produce directly from the farmers and distributing these through Kadiwa outlets or mobile palengke.

Pernia also said, however, that the Philippines remains well-positioned against upward potential price pressures that may emanate from the tightening supply of rice from major markets such as Thailand and Vietnam.

He also said the government must provide immediate support and assistance to local farmers negatively affected by the enhanced community quarantine.

“While we expect that the rice supply in the country will remain sufficient, we need to ensure that the country will have enough buffer stock of rice as Thailand and Vietnam cut down their exports,” Pernia said.

“We need to fast-track the disbursement of the Rice Competitiveness Enhancement Fund to improve the country’s agricultural productivity and food security in the long term,” he added.

Pernia emphasized the need to intensify biosecurity and quarantine measures to control the spread of and eradicate African Swine Fever in the country.

“The presence of these animal-borne diseases in the country calls for a more effective implementation of the prevention and protection programs as well as heightened monitoring of possible resurgence of other infectious diseases,” he said.

Slower GDP growth

WITH slower inflation, JPMorgan’s Nur Raisah Rasid said in a statement on Tuesday that they expect further monetary policy support in the near term, bringing the policy rate to 2.75 percent by end-2020.

Rasid said inflation remains benign, with headline inflation likely averaging 2.1 percent in 2020, just slightly above BSP’s lower bound of its 2-4 percent target range.

The entire Luzon island was placed under enhanced community quarantine from March 16 to April 13 in a bid to control the spread of the coronavirus 2019 pandemic.

However, despite the ECQ, reports showed Covid-19 cases continued to rise and hit 3,660 on Monday with 163 fatalities and 73 recoveries.

This prompted the President to extend the ECQ on Luzon island to April 30, on recommendations by officials who said ending the quarantine just as mass testing had yet to get under way on April 14 would defeat the purpose of the original ECQ, unleashing workers out onto the streets without having a clear picture of who is infected.

“As the Covid-19 shock proliferates through 2Q20…the extension of ECQ measures likely implies a more protracted travel ban, thus weighing further on overall GDP,” Rasid said, noting that the dry season typically sees more seasonal tourism inflows.

“The closure of nonessential businesses suggests that discretionary household spending would be materially impacted. Thus, we now expect FY2020 GDP growth at 0.9 percent year-on-year from last week’s forecast of 2.1 percent,” she added.

The Nation BusinessMirror

www.businessmirror.com.ph

Editor: Vittorio V. Vitug • Wednesday-Sunday, April 8-12, 2020 A3

SC: Courts to remain closed until April 30 T

HE Supreme Court on Tuesday announced that all courts in the country will remain closed until April 30 following the decision of the government to extend the enhanced community quarantine (ECQ) being implemented in Luzon in line with the state of public health emergency declared

by President Duterte to fight the Covid-19 pandemic.

SC spokesman Brian Keith Hosaka said all Covid-19 circulars issued by the Court will be extended and remain effective

until end of the month.

However, Chief Justice Diosdado Peralta earlier said justices and judges will continue to be busy as they are required to draft decisions and orders in their respective residences during the work stoppage.

“The SC summer Baguio session has also been canceled. We will be releasing the corresponding orders once they have been signed by the Chief Justice,” Hosaka told reporters.

Hosaka said the Court has yet to decide if the April 15, 2020, special session will be moved to

another date.

The SC has also approved the online filing of criminal complaints —criminal, commercial and family—before the local courts as part of the ongoing measures to combat the spread of the virus in the country.

Peralta said the circular is intended “to further limit the physical movement of court users, judges and personnel during this period of public health emergency was declared by the President pursuant to existing laws.

ItcanberecalledthatlastMarch16,

the SC decided to order a work stoppage in all courts and court offices and units in the country, except for a skeleton-staff who will act on urgent matters brought before them due to the spread of Covid-19.

In his Administrative Circular 31-2020, Peralta said, upon the recommendation of the Judiciary Task Force on Covid-19 and consultation with the members of the Court en banc, he has decided to reduce court operations from March 16 until April 15, 2020.

During this period, at least the

majority of the justices of the collegiate courts, and one or two judges, in the multi-sala stations of the second and first level courts, together with the necessary skeletal-staff, will be in court, or on standby, at any given day to immediately act on these urgent matters.

For single-sala stations, their respective judges and the necessary skeletal-staff are required to be in court on standby.

It added that all night courts are completely suspended.

In an interview, Peralta assured

that the judiciary has initiated several reforms even before the Covid-19 pandemic that would address backlog of cases as a result of the court’s closure.

Among the built-in measures adopted by the SC were those revised and special rules on admiralty cases, small claims, continuous trial on criminal cases, and pilot testing of remote testimony, he said.

“I believe this will have a significant impact in addressing the case backlog in some of our courts,” Peralta said. Joel R. San Juan

Task force beefs up control points for food cargo delivery vehicles Army reports NPA’s foiled

A

DDITIONAL control points for cargo trucks and other delivery vehicles carrying food and other essential products would be set up across the country following President Duterte’s approval of the extension of the enhanced community quarantine (ECQ).

Lt. Gen. Guillermo Eleazar, Joint Task Force Corona Virus Shield commander, said the additional dedicated control points (DCPs) for vehicles would ensure the availability and movement of food and other basic supplies during the extended period of quarantine.

Eleazar said that 107 DCPs have been put up nationwide in a move to ensure the unhampered movement of cargo vehicles amid the quarantine in Luzon, which President Duterte has extended up to April 30 upon the recommendation of the Inter-Agency Task Force on Emerging Infectious Diseases (IATF-EID).

All of the control points are being manned and supervised by members of the Philippine National Police-Highway Patrol Group (PNPHPG) and were augmented by local police forces.

Of the 107 DCPs, 44 are in Luzon where the quarantine is strictly being implemented, 26 in the Visayas and 27 in Mindanao. They are all

manned and supervised by a total of 563 HPG personnel.

“The movement of cargo vehicles have significantly improved since the establishment of the DCPs. This is what President Duterte wants—ensure that delivery of food items and other basic goods are not delayed because of the current situation we are into,” Eleazar said.

“On behalf of the JTF CV Shield, we express gratitude to our Chief PNP for continuously providing us with more manpower to implement the home quarantine and other rules relating to the ECQ guidelines,” he added.

The JTF CV Shield is the enforcement arm of the IATF-EID. It is composed of the PNP, Armed Forces of the Philippines (AFP), Philippine Coast Guard (PCG) and the Bureau of Fire Protection (BFP).

On Tuesday, Eleazar and HPG Director Brig. Gen. Eliseo Cruz inspected several control points along major thoroughfares located within the boundaries of Metro Manila, such as the Valenzuela-Bulacan boundary, Marikina-Rizal boundary, Pasig-Rizal boundary and Muntinlupa-Laguna boundary.

Cruz said he is in constant coordination with his commanders across the country to ensure that

the rules in handling cargoes are strictly implemented in DCPs. Based on the rules, cargo vehicles will only be inspected at DCPs. The inspection will only be done if necessary.

“I have already ordered my local commanders to continue monitoring the situation in their AORs [areas of responsibility] that include identification of more strategic areas where we could put up more DCPs,” Cruz said.

Eleazar said a total of 3,593 quarantine control points (QCPs) were set up nationwide and they are being manned by a total of 33,828 policemen and other members of the JTF CV Shield.

Of the figure, 1,725 of them are in Luzon, 696 in the Visayas and 1,182 in Mindanao.

It is in the QCPs where private vehicles and persons are being checked. Only those considered as authorized persons outside residence (APOR) are being allowed to pass the QCPs. Eleazar reminded policemen, soldiers and other law-enforcement agencies to strictly observe the ECQ rules in order to come up with uniform guidelines across the country and eventually avoid confusion.

While the ECQ is only implemented in Luzon, various local government units have already implemented their own home quarantine rules in a bid to protect their constituents from being infected by the coronavirus disease (Covid-19).

Meanwhile, soldiers will donate a portion of their salary for the month of May to the Covid-19 funds after hearing President Duterte’s admission that the government will not have enough money to deal with the impact of the virus.

The donation will be made from the highest ranking general down to the lowest ranking personnel, a statement from the military said, adding that Armed Forces Chief of Staff General Felimon Santos Jr. will give P10,484 out of his pay while the lowest ranking soldier, a private, an airman, or apprentice seaman, will donate P100.

The military said around P16,953, 490.04 would be raised out of the donations and will be given to the Office of Civil Defense to procure medical supplies and equipment for the Covid-19 fight.

Santos also said he supports the decision of Duterte to extend the quarantine up to the end of next month. Rene Acosta

attempt to bomb soldiers

By Rene Acosta @reneacostaBM

T

HE military reported on Tuesday that it had foiled attempts by the New People’s Army (NPA) in Samar and Quezon provinces to attack its troops following the discovery of homemade bombs along their routes that may very well be a clear violation of the rebel-declared cease-fire.

The soldiers were doing frontline duties for the novel coronavirus which has already gripped various parts of the country, the Army’s second and 8th Infantry Divisions (ID) said in separate statements.

Elements of the 46th Infantry Battalion (IB) reportedly recovered four homemade bombs at Barangay Hubasan in Calbiga, Samar, on Monday, with the bombs directed against the soldiers involved in the effort against the Covid-19, 46th commander Lt. Col. Rhomel Langcauon, said.

The bombs were found after a resident reported to the 46th IB that the rebels were allegedly planning to ambush the soldiers through the use of the bombs.

“The mines were placed along the

only trail connecting barangays Hubasan and Binanggaran of the same municipality,” Langcauon said.

“We are thankful that a concerned citizenalertedourtroopsabouttheIEDs [improvised explosive devices] planted by the NPA. This is evidently laid to victimize frontliners as all our troops are conductingCovid-19preventionefforts,” the battalion commander said.

In Quezon, elements of the 1st IB recovered two anti-personnel mines and four blasting caps that were allegedly left behind by two rebels and intended to harm soldiers, in what the 2nd ID said was a fourth case of the NPA’s violation of their declared cease-fire.

The mines were discovered at Barangay Llavac in Real, Quezon, where soldiers have put up a quarantine control point under to enforce curfew hours being observed in the town.

Second ID commander Maj. Gen. Arnulfo Marcelo Burgos hit the rebels for their action, saying that “instead of practicing solidarity with our people, they are wasting this once in a lifetime opportunity for them to be bigger than themselves, walk the talk and join the entire Filipino nation in controlling the spread of this deadly virus.”

Criticisms won’t help win war vs virus–DENR exec PAL flies out stranded British passengers

By Jonathan L. Mayuga @jonlmayuga

A

N official of the Department of Environment and Natural Resources (DENR) on Tuesday reminded critics of the Duterte administration that negative criticisms would not help win the war against the coronavirus disease 2019 (Covid-19).

Benny D. Antiporda, DENR undersecretary for Solid Waste Management and Local Government Units (LGUs) Concerns, said while constructive criticisms are welcome as it helps the government realize its mistakes, ouster calls on social-media platforms, he said, are apparently not helping.

“I, myself, criticize the government but oust Duterte? That is not helping at all. We are fighting a war against an unseen enemy and right now, we need the people to fight like

one,” he told the BusinessMirror in a telephone interview.

Antiporda defended at least two DENR officials from Regions 1 and 2 who issued memorandum circulars telling DENR regular, job orders and service contract employees to refrain from criticizing the Duterte administration in various social-media platforms in connection with the government’s Covid-19 response.

In separate memorandums circulating on social media, Marcos G. Dacanay assistant regional director for Management Services of DENR Region 2 and Crizaldy M. Barcelo, assistant director for Management Services of Region 1, called out on regional directors of the Environmental Management Bureau, Mines and Geosciences Board, and DENR officials from the provincial down to city and municipal levels, pointing out that there are social-media posts of per-

sons under job order and contract of service criticizing the government’s response to Covid-19.

Such negative criticisms on social media are not helping any, they said.

Barcelo, in his order, directed job order employees and those under contracts of service, to submit their work-from-home accomplishment reports to him.

Sources said the issuance of the memorandum order reportedly emanated from Assistant Secretary Joan A. Lagunda of Administration, Human Resources and Legislative Affairs, who issued an “informal order” through their Viber chat room.

The order was apparently taken seriously and was put in black and white, drawing flak from “netizens” as the controversial memorandum orders and the Viber message started to circulate on various social-media platforms.

Covid-19 hot line launched in Pampanga, Tarlac

C

LARK FREEPORT—Authorities in Clark on Tuesday launched a Covid-19 central hot line that will serve towns and cities contiguous to Clark to help manage the spread of coronavirus (Covid-19).

Clark’s emergency hot line #1232 (#1CDC) will now have a dedicated prompt that will exclusively cater to Covid-19 concerns. Pressing No. 1 after hearing the main voice prompt, calls will be received and entertained by hot line operators who are capable of answering basic inquiries regarding Covid-19.

They may, in turn, direct them to nurses and medical staff at CDC Health and Sanitation Division to address more specific concerns. HSD staff will be on hand to help assess medical conditions of persons having flu-like symptoms and will advise them of home quarantine procedures.

The Bases Conversion and Development

Authority (BCDA) and Clark Development Corp. (CDC) tapped TaskUs, a customer experience company operating at Clark Global City. The central hot line will receive calls from 8 a.m. to 1 a.m. daily.

CDC Assistant Vice President Chito Dychioco, Information Technology Division head, said that this centralized helpline is essential and is designed to augment the existing hot lines of local communities.

Dra. Maria Clemencita Dobles, HSD head, said that this is part of the measures in Clark to help manage possible risks and threats by having medical professionals handle suspected Covid-19 cases.

Aside from providing immediate emergency response, the project also aims to lessen people going out of their homes following the announcement of enhanced community quarantine all over Luzon last March 17. Ashley Manabat

By Recto Mercene

F

@rectomercene

LAG carrier Philippine Airlines (PAL) on Tuesday flew out of the premier gateway 288 British passengers stranded in Cebu since March 15 when the country declared a lockdown called enhanced community quarantine (ECQ) to prevent the spread of coronavirus.

Flight PR720 left the Ninoy Aquino International Airport at 12 p.m. bound for Heathrow, London, followed by a second flight, PR8722 that departed the Naia at 1 p.m. also for Heathrow Airport. Both flights utilized Boeing B777-300ER aircraft with a capacity of 370 seats. The carrier said it will carry out “other sweeper flights—from Siargao, Tagbilaran and Puerto Princesa.

“One passenger on the Cebu to Manila flight told our crew [that] despite this experience of being stranded, I will visit your country again,’” said PAL spokesman Cielo Villaluna.

Many other foreign embassies heaped praises on Foreign Affairs Secretary Teodoro Locsin Jr., and Tourism Secretary Bernadette

Romulo Puyat who allowed sweeper flights and chartered flight during a three-day opening to fly out the stranded tourists from many parts of the country.

The Manila to London flights were organized by the British Embassy in Manila. These are only available to British travelers, normally residents in the United Kingdom, who wish to return home.

Meanwhile, PAL announced on social media that they will keep their passengers updated on its plans to resume “some international and domestic flights on selected routes in the coming weeks.”

“In its nearly 80 years of service to the world, PAL has never experienced a complete disruption of this scale, with the exception of World War II,” Villaluna said.

“The challenges are immense, but we can only ask for the cooperation and support of all our valued customers, our partners in government and the transport and tourism industry, and our family of PAL personnel, as we devote our energies to recovery and a gradual restoration of our flights and network,” she added.

DOE allots ER 1-94 funds to boost host LGU health capacity

E

NERGY Secretary Alfonso G. Cusi signed on Monday, April 6, a circular that effectively directs the utilization of Energy Regulations 1-94 (ER 1-94) funds to help local government units (LGUs) in their fight against the virus.

Under the ER 1-94 program, host communities to energy generation facilities and/or energy resource development are entitled to P 0.01 per kilowatt-hour of the total electricity sales of generation companies and energy resource developers to finance electrification, livelihood and development projects.

“There is a need to provide immediate financial assistance to the host LGUs to enhance their health services and, at the same time, temper the socioeconomic impact of the crisis, and the ER 1-94 funds are deemed to be viable, doable, and read-

ily available source of funding to empower host LGUs to help the national government to combat, before it is too late, Covid-19, which has continuously taken a heavy toll on lives, disrupting the way of life of the Filipino people,” stated the department circular entitled Rationalizing The Utilization of ER 1-94 Funds By Host LGUs In Response To Covid-19 Public Health Emergency.

The funds that would be used for this circular are funds that have already been remitted to host LGUs and those that are still with the DOE and concerned generation companies as of the last quarterly billing period of 2019, the DOE said.

These funds, added the DOE, will be utilized and disbursed by the host LGUs for the facilitation of mass testing; provision of an emergency subsidy in the form of nonfood items; assurance of uninterrupted

availability and access of essential commodities, particularly food and medicines; support feeding programs and provision of relief goods for low-income constituents; acquisition of personal protective equipment (PPE) for frontline medical workers, and medical and other decontamination/ disinfecting supplies and equipment; provision, by construction or lease, of additional medical facilities, tents, safe holding areas, including quarantine centers and distribution centers; provision of electricity cost subsidies to newly constructed facilities of hospitals and health clinics; provision of cremation, or burial services, to families affected by Covid-19; and other reasonable and tangible measures to contain, mitigate and eliminate the transmission of Covid-19, and manage and mitigate its effects to the community and individuals. Lenie Lectura

Economy

A4 Wednesday-Sunday, April 8-12, 2020 • Editor: Vittorio V. Vitug

BusinessMirror

www.businessmirror.com.ph

Asean+3, including PHL, to emerge ‘stronger’ from pandemic–AMRO

By Cai U. Ordinario @caiordinario

T

HE coronavirus 2019 (Covid-19) pandemic will test the soundness of the economic fundamentals of the Asean+3 economies, including the Philippines, but the region is bound to emerge from the crisis stronger, according to the Asean+3 Macroeconomic Research Office (AMRO).

In an online briefing, AMRO chief economist Hoe Ee Khor said that in the short term, the Asean+3 economies will see gross domestic product (GDP) slow to 2 percent in 2020 and grow faster to 5.2 percent in 2021.

This is as of the April 2020 estimates made by AMRO. As of April, the Philippines is projected to post a growth of 4 percent to 5 percent this year and a 6.4-percent to 7-percent GDP growth in 2021. In March when AMRO was doing the report, the projection for the country’s growth was higher at 6.2 percent in 2020 and 6.6 percent next year.

“I think the second and third quarters [are] going to be tough. And we still don’t know how long and how severe this pandemic is gonna be but I think the expectations is things will get worse before it gets better. How much worse and how long it takes is open, [it] depends on what kind of measures that governments take and how strongly they stick with it,” Khor said.

In his presentation, Khor said the Philippines is expected to see a 2.6 percentage point to as much as 4.4-percentage-point reduction in its GDP growth in case of a global recession and severe global recession this year.

Khor said, however, that governments have the resources to undertake massive spending. He said governments should prioritize helping businesses and households by “keeping them alive” in these difficult times.

In his presentation on Tuesday, data showed majority of Asean+3 economies have sufficient foreign-

exchange reserves at this time, which reserves averaging seven months to 10 months in the region.

Khor said the recommended level of foreign-exchange reserves is around 100 percent to 150 percent and Asean+3 countries, such as Korea, Indonesia and Malaysia, are within this range while the Philippines and Thailand have exceeded this range for the past three years.

“We will emerge out of this and I think we will emerge stronger. Because I think this crisis forced us to recognize that we are in this together and we need to support one another and we need to be prepared for the next big one [which] will be climate change and we need to get ready for that,” Khor said.

Khor said while AMRO is cautiously optimistic about the short and medium term outlook for regional growth, there were a few “bright spots” that would be crucial in the long term.

These bright spots include the fact that since the Asian Financial Crisis, Khor said the region has been

prudent and created financial safety nets, as well as strengthened surveillance capacity.

Khor said these are important in ensuring that the region’s macroeconomic fundamentals remain sound and hold much promise in the long term.

Further, the pandemic is an opportunity in itself. Khor said the pandemic has fast-tracked the fourth industrial revolution and is providing a major boost to e-commerce and logistics growth.

Khor said these are crucial building blocks in the “economy of the future” and could help Asia to transition to “ShopperAsia” from “FactoryAsia.”

Some of the signs that the region is becoming a shopping hub is an increase in intra-regional trade in the region. Khor said the share of value-added exports increased to 40 percent in Asean+3 from 38 percent in 2010 and 35 percent in 2005.

AMRO attributes this growth to the expansion of the middle class.

This means the region can become not only a global production network but also a global market place.

“The global tragedy of the Covid-19 pandemic reminds us of our collective destiny and challenges the region to demonstrate its resilience and commitment to come up with solutions that safeguard and strengthen our long-term interests. The capacity to rise to the challenge is not in doubt, and the will to shape our future together is strong,” Khor concluded.

To position the region strongly, policy-makers need to broaden and quicken their efforts in developing human capital, facilitating freer cross-border flow of skilled labor and professionals, and updating rules governing trade.

A fresh interpretation of “social safety net” is also necessary, particularly in view of the growing importance of the gig economy. It is crucial for regional governments to put in place stronger social safety nets in conjunction with efforts to enhance the regional financial safety net.

Govt draws money from Senators back bigger stake to slay virus ‘discontinued’ projects to boost Covid-19 fight S

By Butch Fernandez @butchfBM

T

O fund government’s response against Covid-19, President Duterte said the Department of Budget and Management (DBM) has identified items that may be discontinued in the 2019 and 2020 General Appropriations Act amounting to P189.82 billion.

In his second weekly report to Congress as mandated by the Bayanihan to Heal as One Act, the President said of this unreleased appropriations worth P189.8 billion, P186.5 billion were taken from the 2020 national budget, while P3.3 billion were from the 2019 national budget. These funds were sourced from the personal services (PS), maintenance and other operating expenses (MOOE), financial expenses (FinEx), and capital outlay (CO) items under the 2019 continuing appropriations and 2020 General Appropriations Act. According to the President, the line departments are assisting the DBM in determining their respective programs, projects, and activities, which can be discontinued to generate savings to augment Covid-19 response measures.

Of the total unreleased appropriations, he added P4.2 billion was sourced from the budgetary support to government corporations under the special purpose fund. President Duterte said P100 billion in allotments has already been released to the Department of Social Welfare and Development (DSWD).

As of April 3, the DBM reported that additional cash allocations worth P5.182 billion were released to the following departments to cover their Covid-19 response activities, namely: the Department

of Health (DOH) at P600 million; DSWD at P3.9 billion; Department of the Interior and Local Government at P520.62 million; Department of Science and Technology at P53.23 million; and Department of Labor and Employment at P100 million.

The President said the Land Bank of the Philippines has remitted to the Bureau of the Treasury cash balances from various government agencies amounting to P12.13 billion, unutilized balance of Letter of Credit procured by the DOH and the Armed Forces of the Philippines in the total amount of P4.4 billion and unutilized Unconditional Cash Transfer funds amounting to P5.5 billion.

He also said the Department of Finance has collected dividend contributions in the amount of P78.64 billion from 12 government-owned and -controlled corporations to fund the government’s Covid-19 response.

Meanwhile, President Duterte said other instrumentalities like the Environmental Management Bureau has allocated P2.352 million from its climate-change support activities to be realigned for Covid-19 programs and projects.

He said Transco has also directed the use of available unutilized funds for the purchase of personal protective equipment(PPE) for Covid-19 frontliners, thermal scanners, relief goods, and donation in the amount of P3 million to the Philippine Red Cross.

He added the Philippine Veterans Affairs Office has allocated its agency funds to address and respond to the Covid-19, including social amelioration measures for severely affected communities and sectors.

Jovee Marie N. Dela Cruz

ENATOR S crossed part y lines on Tuesday backing President Duterte’s option to divert multibillion-peso funds for non-urgent projects in the national budget to aid victims of the deadly coronavirus disease (Covid-19).

Members of the majority and minority blocs, in separate text messages, also conveyed readiness to front-load additional funding for Covid-19 containment efforts, even as senators suggested the President is empowered by Bayanihan Act to cancel projects that are not too urgent and use funds for more pressing needs as the lockdown has been extended until April 30.

“Most of us will support him [Duterte],” Senate President Vicente Sotto III told the BusinessMirror.

Given that the President signaled readiness to extend the lockdown as government prepares to aid virus victims, Sen. Imee Marcos readily agreed the Senate should support the Palace option.

“As I said one month ago, let us give our full support to the affected people, [Itodo na ang tulong; hirap ang tao],” Marcos said, adding that “there is money, I beg to disagree, from 2019 savings, u npro g r a m me d f u nd s, 2020 contingency-calamity fund, and Pagcor,” referring to the Philippine Amusement and Gaming Corp. that operates state-run casinos. She estimates these could cough up at least P350 million.

Moreover, she added: “ The Philippines is investment grade, halos zero interest mangutang, itaas sa 5.4 percent utang, P440 billion agad ’yun.”

In a separate statement, Sen-

ate Minority Leader Franklin M. Drilon suggested the Duterte administration may opt to review its spending program under the 2020 budget. “ Tough times call for tough decisions,” said Drilon, adding that the government should prepare to “sacrifice some projects, even f l agship inf rast r uct ure projects,” in order to generate f unds for Cov id-19 response activities.

Stressing the need for “greater government intervention” to cushion the impact of the pandemic, Drilon reminded that “we are now seeing the far-reaching effects.”

“It is not only the poorest that are affected but also the middle class, as well as small business owners,” he said, adding, “Sadly, the government’s wallet is depleting as the rest of the Filipino people.” “ K u n g a n g g o b y e r n o h i ra p maghanap ng pera sa panahon ngayon, paano pa kaya ang ordinaryong Pilipino, ang mga nawalan ng trabaho, ang maliliit na mamumuhunan na nawalan ng negosyo,” he said.

The Senate minority leader lamented the lack of sufficient f unds hinder ing gover nment f rom respond i ng to t he c r isis, even as he added there are items in the Bayanihan Act that remain unfunded. “It is a question of government fiscal position. Does the government have enough money to combat Covid-19?” he noted, “Perhaps our financial managers would be able to free up some funds that would not be utilized for the intended purpose and realign it to the amelioration programs.”

Citing the budget of the Department of Public Works and Highways, Drilon added “there

are about P30.17 billion for bridge construction, P52.8 billion for asset preservation program [road construction], P113.39 billion for network development program [road widening, diversion], and P90.12 billion for flood management program.”

“These projects will be impossible to be fully implemented within the year,” Drilon said, as he suggested the Duterte administration should consider realigning some funding to aid the affected sectors.

He pointed out that with the passage of the Bayanihan Act, the government can free up more resources, realign and reprogram the same to appropriate responses against the crisis.

Moreover, the senator suggested the Duterte administration should reach out to all affected sectors, voicing concern that “if we do not roll out a parallel assistance, our economy will surely collapse.” Drilon also noted that “families classified as middle class today are not earning any income.

Likewise, small business owners risk losing their jobs and livelihood due to the lockdown. Their needs may be different but all of them need help.”

At the same time, Drilon affirmed support for a two-week extension of the Luzon-w ide lockdown even as he stressed the Duterte administration “should be prepared to assist all Filipinos in distress during the crisis and ensure food supply and movement of essential goods and services during the lockdown.

This, even as Drilon aired concerns that the lack of sufficient funds is seen to undermine government interventions to fight Covid-19 “due to the pandemic and the lockdown,” Drilon noted.

Palace freezes P30.824-B infra projects, realigns fund to LGUs

By Bernadette D. Nicolas @BNicolasBM

P

RESIDENTDutertehasapproved the discontinuation of P30.824 billion worth of infrastructure projects of the Department of Public Works and Highways (DPWH) to fund the grant of financial assistance to local government units (LGUs).

A memorandum obtained by the BusinessMirror from the office of Executive Secretary Salvador C. Medialdea dated April 6, 2020, and addressed to Budget Secretary Wendel E. Avisado showed the approved financial assistance to LGUs will be dubbed as “Bayanihan Grant to Cities and Municipalities” in a bid to boost LGU capacity to respond to the Covid-19 pandemic.

The government said the fund will be sourced from the infrastructure projects of DPWH classified as “For Later Release” under the FY 2020 General Appropriations Act, or Republic Act 11465.

Moreover, the President also authorized the reprogramming and realignment of generated savings for the said grant equivalent to onemonth Internal Revenue Allotment of the city/municipality, subject to the availability of funds, and pertinent budgetary, accounting and auditing laws rules and regulations.

Avisado, who confirmed the authenticity of the document to the BusinessMirror, said the proposed freeze of infrastructure projects “was done in consultation and coordination with DPWH.” While he refused to elaborate on the details of these infrastructure projects, as well as the parameters that were taken into consideration on why these specific projects were chosen to be discontinued, the budget chief said in a text message: “That will form part of the report to Congress po. We need to focus first on the guidelines so that we can work on the release of the funds as quickly as we can.”

The President was supposed to submit his weekly report of all government actions performed in line with the Bayanihan to Heal as One Law to Congress every Monday.

Under the Bayanihan Law, the President may also direct the discontinuation of appropriated programs, projects, or activities of any agency of the Executive department, including government-owned or -controlled corporations in the 2019 and 2020 national budgets, whether released, or unreleased, as well as the allotments which remain unobligated.

The law also allowed to utilize the savings generated from these to augment the allocation for any item directly related to support operations and response measures to address the Covid-19 response.

“Notwithstanding the provisions of this act, the discontinued program, activity, or project, may be revived any time after the national emergency has ceased, and notwithstanding Section 67 of Republic Act 11465 or the General Appropriations Act of 2020,” may be revived and proposed for funding within the next two fiscal years,” read Section 4 Subsection V of the Bayanihan Law.

DHSUD declares moratorium on in-house financing to condo, house and lot buyers

By Rene Acosta @reneacostaBM

T

HE Department of Human Settlements and Urban Development (DHSUD) has declared another moratorium, this time, on the “in-house financing plans, or credit intermediation” extended by real-estate developers to house and lot and condominium buyers.

The moratorium was imposed by DHSUD Secretary Eduardo del Rosario as the agency’s contribution to the “Bayanihan to Heal as One Act,” which is being implemented

by the government in response to the novel coronavirus pandemic.

Republic Act 11469, or the “Bayanihan to Heal as One Act,” is a law recently enacted that gave President Duterte additional powers meant to prevent the further spread of Covid-19. It likewise authorized the President to carry out necessary steps to avert the pandemic.

“The unpaid amortizations during the moratorium shall be payable within six months thereafter without interests and penalties,” del Rosario said.

The moratorium initially covers a two-month period, starting from the implementation of the enhanced

community quarantine (ECQ ) on March 17, 2020, and may be extended if still necessary.

Del Rosario said the temporary reprieve will cover all subdivision, condominium and other projects that are required to be registered with DHSUD. Earlier, the DHSUD implemented a three-month moratorium on housing and short-term loan payments from its key shelter agencies (KSAs) which are the National Housing Authority (NHA), Home Development Mutual Fund, or Pag-IBIG, Social Housing Finance Corp.

(SHFC) and National Home Mortgage

Finance Corp. (NHMFC).

The agency admitted that the moratorium would likely result in the non-collection of P31.5 billion by the KSAs, but will benefit more than 5.5 million members.

Del Rosario said that while implementing a three-month moratorium on loan payments from KSAs is doable since they are part of the government, a win-win situation must be pushed also in the in-house financing scheme by private real-estate developers.

The Philippine National Police , the PNP Finance Service will also implement a 30-day moratorium on sal-

ary deductions representing monthly amortization for loans made by policemen in six accredited financial institutions that provide financial services to PNP members.

Upon the orders of PNP chief General Archie Gamboa, the PNP Directorate for Comptrollership under Brig. Gen. Marni Marcos Jr. coordinated with accredited private lending institutions for the suspension of loan deductions by policemen.

Marcos said the 30-day reprieve will take effect in the April 2020 pay period and will result in the increased net take home pay of PNP personnel

with outstanding loan balances in financial institutions.

Earlier, lending institutions, such as the Armed Forces and Police Savings and Loan Association Inc., Public Safety Savings and Loan Association Inc., Air Materiel Wing Savings and Loan Association Inc., PNP Provident Fund, Public Safety Mutual Benefit Fund Inc., and Armed Forces and Police Mutual Benefit Fund Inc. have already implemented their respective 30-day suspension of monthly payment of loan accounts of PNP members without penalty as provided under Bayanihan to Heal as One Act.

Agriculture/Commodities

www.businessmirror.com.ph

South Korea donates rice to Mindanao

T

he Department of Agriculture (DA) on Tuesday said South Korea donated 950 metric tons (MT) of rice to the Philippines for families affected by natural disasters and calamities last year.

The DA said the beneficiaries of the rice donation were the earthquake victims in Mindanao, particularly in North Cotabato and Davao del Sur, and other areas in Regions 11 and 12, and flood victims in Cagayan Valley.

“On behalf of President Duterte, we would like to thank President Moon Jae-in and the people of the Republic of Korea for their generosity in helping our countrymen who suffered and survived a series of earthquake in Mindanao and flooding in Cagayan Valley,” Agriculture Secretary William Dar said in a statement.

The DA said the rice donation is part of the emergency food assistance of South Korea’s Ministry of Agriculture, Food and Rural Affairs (MAFRA).

The donation was shipped by Korea Agro-Fisheries and Food Trade Corporation to the National Food Authority (NFA) as part of the Asean Plus Three Emergency Rice Reserve Tier 3 (APTERR Tier 3) Program, the DA added.

“South Korea’s donation is a manifestation of your country’s dependable support and concern to the Filipino people, and rest assured the rice will go beyond its initial intended purpose.” Dar said in his letter to MAFRA Minister Kim Hyeon-Soo. The DA said the rice shipments arrived last March at the ports of General Santos City (600 MT) and Manila (350 MT) and temporarily kept at NFA warehouses.

“The NFA is set to turn over the South Korean rice donation to the Department of Social Welfare and Development for distribution to affected families in Regions 11, 12, and Cagayan Valley as identified by the DSWD in coordination with the concerned LGUs,” said NFA Administrator Judy Carol Dansal.

The APTERR Tier 3 is a regional cooperation mechanism involving Asean member-countries plus the Republic of Korea, Japan and China, according to DA. It aims to strengthen food security and provide emergency rice assistance to victims of natural calamities in member countries, it added.

Jasper Emmanuel Y. Arcalas

BusinessMirror

PHL buys more imported milk in 2019

T

By Jasper Emmanuel Y. Arcalas

@jearcalas

he country’s milk import bill rose by nearly 14.3 percent to a record $1.13 billion as traders increased their purchases of dairy products to meet growing local demand.

The latest data from the National Dairy Authority (NDA) showed that the total value of dairy products imported last year reached $1.129 billion, $141.44 million over the $807.72 million recorded in 2018.

This is the first time that the country’s milk import bill breached the $1-billion mark.

Also, total volume of milk imports in 2018 reached a record-high of 2.969 million metric tons (MMT) in liquid milk equivalent (LME), slightly higher than the 2.939 MMT-LME in 2018, NDA data showed.

The average import cost of milk products during the reference period was pegged at $0.38 per liter (P19.7 per liter), higher than the $0.34 per liter quotation (P17.70 per liter) in 2018, according to NDA data.

NDA data also showed that the average unit cost of imported milk went up as the price of evaporated milk jumped to $1.50 per liter, from $0.28 per liter in 2018. Quotations

for other milk products, including skim milk and whole milk, were also higher last year.

New Zealand remained as the country’s top import source for milk products, accounting for 36.6 percent of the Philippines’s import bill, followed by the United States.

New Zealand’s total milk exports to the Philippines last year expanded by 10.52 percent to $413.32 million, from $373.97 million in 2018.

Volume of shipment grew by 3.21 percent to 750,090 MT-LME from 726,730 MT-LME. The country’s milk import bill from the US rose by 8.55 percent to $226.89 million, from $209.01 million while shipments in terms of volume fell by an annualized 13 percent.

In its Dairy Market Review report, the United Nations’ Food and Agriculture Organization (FAO) said world dairy prices in 2019 were higher due to tight global supply.

Tyson, JBS closures show virus hitting American meat production

M

ajor meat plants in the United States are starting to take more drastic measures to deal with the coronavirus pandemic, fanning concerns of supply disruptions at a time when Americans are stocking up on food.

On Monday, Tyson Foods Inc. said it halted pork processing at a plant in Iowa after more than two dozen workers tested positive for coronavirus disease 2019 (Covid-19). JBS SA suspended operations until April 16 at a beef plant in Pennsylvania after several managers showed symptoms. Other producers have seen everything from walkouts to hundreds of staff quarantined.

The temporary shutdowns come as the virus spreads to rural areas that are the heart of US food production. In the early stages of the outbreak, producers opted to keep plants running when workers got sick by identifying specific areas where

infected people had direct contact.

Tyson’s meat and poultry plants are experiencing “varying levels” of impact to production, the company said in a statement. More workers are failing to show up to shifts, and additional sanitation efforts to keep people safe are spurring temporary closures, Chief Executive Officer Noel White said.

In the case of the Iowa plant, hogs are being sent to other pork facilities in the region to minimize disruption.

Meanwhile, Tyson is asking federal agencies for more personal protective equipment for its workers and trying to secure supplies of face coverings, White said.

“We’re working hard to protect our team members during this ever-changing situation, while also ensuring we continue fulfilling our critical role of helping feed people across the country,” he said.

Bloomberg News

PHL must invest more in nursing or face 250K gap in ’30–WHO continued from A2

said Drs. Tauhidul Islam and Socorro Escalante, current acting WHO Representatives for the Philippines.

They stressed that investments in quality nursing training and ensuring adequate pay and decent working conditions will help improve health outcomes, promote gender equality and support economic

growth in the Philippines.

For this year’s World Health Day, the State of the World’s Nursing 2020 was produced by WHO in partnership with the International Council of Nurses and the global Nursing Now campaign, with support from governments and other partners.

The report provides a global picture of the nursing work force, using data and standardized indicators

and Technology, and Ateneo de Manila University FASSSTER Team, Philippine Institute for Development Studies, volunteer groups from the Asian Institute of Management and UP College of Medicine, University of the Philippines-Manila College of Public Health, Epimetrics, Inc. Volunteers from the Ateneo

School of Medicine and Public Health were also instrumental in the DOH’s projections of resource needs for the coming months.

He said the DOH will continue to tap these groups as more data becomes available for analysis because of expanded testing efforts.

It is also widely expected that data from mass testing will improve the accuracy of the models and simula-

FAO said its Dairy Price Index in 2019 grew to a two-year high of 198.7 points, indicating the increase in global milk and dairy prices.

The Philippines virtually imports all its milk requirements, as local production remains miniscule compared to the country’s huge demand.

In January, the Department of Agriculture (DA) said it will seek

more funds from Congress for its new dairy road map which details strategies to improve local milk production.

The DA also said it would encourage the private sector, local government units and other concerned agencies to invest in the local dairy industry.

In particular, the DA said the Philippine Carabao Center and the

NDA would ”massively improve the genetics of dairy buffaloes and cattle to produce 7 liters and 18 liters, respectively.”

The DA said the country’s milk output last year grew by 5.4 percent to 23.69 million liters. However, Agriculture Secretary William D. Dar said this volume is not enough to meet the demand of Filipinos for dairy products.

Victorias Milling gets permits for commercial alcohol production

B

ACOLOD CITY—Negros Occidental-based sugar producer Victorias Milling Co. (VMC) has obtained permits from the Food and Drug Administration (FDA) and the Bureau of Internal Revenue (BIR) for the commercial production of ethyl alcohol amid the coronavirus disease 2019 (Covid-19) crisis.

VMC President Minnie Chua said the target is to double the capacity this month as they go full blast to address the scarcity of ethyl alcohol amid the high demand for the disinfectant.

“We finally got our clearance from the FDA and the BIR to produce ethyl alcohol that is badly needed in response to the Covid-19 situation,”

Chua said in a statement on Tuesday.

She said there has been a shortage of the product in Negros Occidental after supplies were compromised due to logistical difficulty.

“Thus, we at VMC decided to utilize our distillery for this very purpose during this period,” she added.

The VMC Distillery Plant, which manufactures the V-Protect ethyl alcohol brand, and other related by-products, is located in Barangay Purisima of neighboring Manapla town. It has a rated capacity of 28,000 liters per day.

So far, the VMC has donated more than 20,000 liters of ethyl to local government units (LGUs) and the provincial government in Negros Oc-

cidental and those in Panay Island.

“We prioritize for distribution the government hospitals, particularly the Covid-designated health facilities, LGUs, and frontliners like the military and the police,” Chua said.

For now, VMC is operating its sugar mills and subsidiaries with a skeletal force in compliance with enhanced community quarantine being enforced by the Negros Occidental provincial government.

“While it is business as usual, we have set up various measures, both emergency and preventive, to protect, not only our work force but the clients we serve. We are one with the nation in praying that this crisis will end soon,” Chua said. PNA

DPWH, EEI, Villar Group complete PICC Forum Halls construction of Covid-19 facility in 7 days

from 193 countries and areas, including the Philippines.

At the World Health Assembly in May 2019, ministers of health from across the globe designated 2020 as the Year of the Nurse and Midwife.

It marks 200 years since the birth of Florence Nightingale, the founder of modern nursing, and recognizes the critical contribution these professions make to global health.

PHL cases now 3,764; DOH cites experts’ work in assessing data continued from A2

Editor: Jennifer A. Ng • Wednesday-Sunday, April 8-12, 2020 A5

tions conducted by the said groups.

“While each group worked on their different models using technologies available to them, the groups acknowledged that working together has resulted [in] increased rigor for each team’s output,” Duque explained as he announced that details of the models will be made available to the public by the different groups any time soon. Claudeth Mocon-Ciriaco

INSIDE the PICC Forum in Pasay City, soon to be a quarantine facility for Covid-19 patients. NONIE REYES

continued from A2 equipment, such as hospital beds, are installed and disinfection activities are completed.

“The Philippine National Police [PNP] Medical Corps will manage the health service operation of PICC Forum Tent quarantine facility,” added Secretary Villar.

Earlier, Villar formed a DPWH Task Force on Augmentation of

Healthcare Facilities to work for the conversion of PICC, the Rizal Memorial, WTC and other largescale public buildings to be used as isolation sites to address hospital space shortage due to the rise of Covid-19 cases.

The task force headed by Undersecretary Emil K. Sadain has also identified open spaces in Metro Manila where prototype tents can be installed and transformed into

quarantine hubs.

Villar also directed the utilization of the available 114 DPWH-built evacuation centers nationwide as health-care facilities and for other Covid response purposes.

Meanwhile, Villar also lauded the DPWH men and women, who are also acting as support frontliners during this national health emergency.

A6 Wednesday-Sunday, April 8-12, 2020 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

When people fear their own heroes

I

N these stressful times brought about by the pandemic, the default reaction is self-preservation or avoiding the virus at all costs. Fear and anxiety, however, can lead to social stigma toward people in the frontline of our battle against Covid-19. For example, the tales of harassment and discrimination against our health-care workers are getting ugly.

On March 28, a hospital in Sultan Kudarat called for justice after five people attacked one of its personnel on his way home, splattering bleach all over his face. Fortunately, he was able to seek immediate treatment at the hospital.

In Cebu City, two unidentified men on board a motorcycle splashed chlorine on a male nurse who was also on his way home. He was unhurt, but now he fears for his safety.

Health workers in Iloilo and Negros Occidental, including doctors, nurses and hospital janitors, were refused services in eateries, denied rides in buses, or were asked to vacate their apartments.

In Quezon City, a nurse working at the East Avenue Medical Center was kicked out from an apartment she was renting due to her neighbors’ fears of potential contamination.

In Bataan, hospital security guards and nurses were evicted from their rented houses because the owners feared that these health workers would infect them.

In Mariveles, residents put up barricades to contain health workers and other hospital staff following the announcement that a patient with coronavirus symptoms died in said hospital.

These incidents prompted the Department of Health (DOH) to issue a statement condemning the discrimination and harassment against medical workers: “We denounce the acts of physical, harassment and discrimination committed against our fellow health-care workers. These acts cannot be tolerated. We appeal to the public to extend understanding and compassion to our health-care workers, who have responded to our country’s need with dedication, courage and selflessness. This is not the time for us to turn our backs on them.”

These incidents angered President Duterte, who ordered the police to go after those who harass health workers. He said those who harm or discriminate against medical workers will face the full might of the law.

Cabinet Secretary Karlo Nograles said in a press briefing: “Despite all the support and love our country has shown our health workers, it is unfortunate that we have received reports that these frontliners have come under attack.

To address this, Philippine National Police Chief Archie Gamboa has directed all local police units to provide every possible assistance and security to medical staff and health workers.”

Although public campaigns calling for support for heroic doctors and nurses have gained momentum in the Philippines and in other countries, and the World Health Organization has said their safety is paramount, it is painful to see some of them being subjected to hostility, as if they created the Covid-19.

Some of us find it hard to stay home. Our doctors, nurses and other frontliners don’t have the luxury of holing up in their homes to shield themselves from the deadly virus. They have to expose themselves to the risk of contracting Covid-19 and, sadly, we have lost a number of them to the virus.

As we recognize our frontline medical workers, however, let’s not forget the people doing backline support—grocery and food delivery workers, garbage men, bank employees, police and barangay workers, LGU volunteers and others who are also exposing themselves to the same risk in order to serve our needs.

At a time when hospitals and other health-care facilities are in danger of being overwhelmed, the best thing we can do for our burned out doctors and nurses is to protect them from all forms of discrimination, harassment, or assault. Let’s do the same for our backline soldiers in our fight against Covid-19. There is no better way to express our gratitude to our frontliners and backliners than giving them all the support they need to do their jobs well and stay alive.

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No worries: SSS contribution payment deadlines extended Aurora C. Ignacio

All About Social Security

T

he Covid-19 pandemic has significantly disrupted our everyday lives. It has restricted our movements and daily routine like going to work and traveling like we usually do.

Most of us, including our employers and SSS members, are currently confined in the corners of our homes after the national government imposed an enhanced community quarantine in different parts of the country to curb the spread of Covid-19. According to a recent report in The Economist, about 2.5 billion people around the world are put on some sort of lockdown due to this pandemic crisis.

In SSS, we implemented precautionary measures in line with the directive of the President, such as the no contact drop box system in accepting applications for benefits and loans from our members and the temporary suspension of the tellering services in our branches.

However, as a servicing agency, we are maintaining a skeletal work force in some critical areas of our operations. As a consequence, many employers are asking how they can remit the contributions of their employees within the scheduled payment deadlines.

We are aware of the difficulty that employers and individual

paying members are currently experiencing in paying their SSS contributions, considering that enhanced community quarantine has imposed limits on our ability to move freely and easily. Moreover, most of the over-the-counter payment facilities are either limited or have stopped operations. For these reasons, we decided to extend the payment deadlines for SSS contributions. Employers and individual paying members can pay their SSS obligations until June 1, 2020.

For regular and household employers, they have until June 1, 2020 to pay the contributions of their employees/household

We would like to take this opportunity to urge employers and individual paying members to use alternative online payment facilities in paying SSS contributions. Employers can pay using BPI BizLink, Security Bank Corporation DigiBanker, UnionBank OneHUB, and eGov BancNet Online.

helpers for February, March, and April 2020. Another good news is that they will not incur and be charged with any penalties until the extended deadline. Also, employers with approved installment proposals under the Contribution Penalty Condonation Program may deposit their post-dated checks due for February, March, April, and May 2020 on June 1, 2020. Payment deadlines for the applicable months after April 2020 will follow the regular payment schedules.

Aside from employers, we also extended the contribution payment deadlines for individual paying SSS members such as self-employed, voluntary and nonworking spouse members. They can pay their SSS contributions for the applicable months of January, February and March 2020, or the first quarter of 2020 until June 1, 2020. However, the contributions that they paid retroactively will not be used

as eligibility for any benefit claim if the payment date falls within or after the semester of contingency.

Moreover, the regular payment schedule will resume for the applicable months or quarters after March 2020.

We would also like to take this opportunity to urge employers and individual paying members to use alternative online payment facilities in paying SSS contributions. Employers can pay using BPI BizLink, Security Bank Corporation DigiBanker, UnionBank OneHUB, and eGov BancNet Online. On the other hand, individual paying members can pay using the Bayad Center mobile app, Moneygment through My.SSS, PayMaya through the SSS Mobile App, and Security Bank’s Internet banking. Paying contributions can be done at the safety of their homes or offices, especially in this time of pandemic crisis.

During these difficult times, we encourage everybody to stay at home until the quarantine period is over and help the government in its fight against this dreadful disease.

In the meantime, enjoy your bonding moments with your family and loved ones.

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.

It’s still hard to predict who will die from Covid-19

By Arturo Casadevall & Liise-anne Pirofski Bloomberg Opinion

I

N every epidemic, some die, others become ill and recover, and the luckiest live through infection without symptoms. In today’s pandemic, we are seeing this play out before our eyes.

Although the initial epidemiological data show that Covid-19 is more severe in older people, men and those with preexisting conditions such as heart and lung disease, not everyone with severe disease has these risk factors. And not everyone at risk has the same symptoms, prognosis or outcome.

Why do people manifest such differences? And why is it not possible to predict an individual’s experience?

To address this complex question, it is important to first get our terminology right. “Infection” means acquisition of the coronavirus after exposure to it. Infection is not synonymous with exposure—or with disease. Disease is a clinical state associated with cough, fever and other symptoms that ranges from mild to severe. These symptoms arise from damage to tissues and the immune system. Death occurs when there is so much damage that the body cannot maintain blood oxygenation and other necessary functions.

In past epidemics, death and survival were attributed to providence or fortune. Modern medicine and science provide a better understanding

of why infection can lead to such different outcomes. Among individuals in the same risk group—the same age, say—differences in infection outcome can result from five different variables outside their control.

The first of these is microbial dosage or inoculum, the number of viral particles that cause infection.

Small numbers of viral particles are more likely to be contained effectively by the body’s defenses. Then, infection may cause no symptoms or only mild disease. In contrast, a large number of particles can lead to increased viral growth, overwhelming the immune system and causing more severe disease.

Genetics may also influence susceptibility to severe infection.

Viruses often gain access to host cells via surface proteins, which

vary in presence and nature from person to person. Someone with no such surface proteins may be resistant to infection. In the case of HIV, for example, some people lack the receptors needed for viral infection and are not susceptible to the virus.

A third variable that influences infection outcome is the route by which a virus enters the body. It’s possible that virus inhaled in the form of aerosolized droplets triggers different immune defenses than does virus acquired by touching contaminated surfaces and then touching one’s face. The nose and the lung differ in local defenses, so the route of infection could significantly affect the outcome.

T he fourth variable is the strength of the coronavirus itself.

Viruses differ in virulence—their capacity to damage host tissues or immunity—even when they are all the same species. This is why flu seasons vary in severity from year to year. The varieties of a virus such as coronavirus differ depending on small genetic characteristics and how these affect the interaction with human hosts. As the coronavirus spreads from person to person, it may undergo unique changes in its genetic structure that enhance

or attenuate its capacity to do harm.

Strains that are more virulent could lead to more severe disease.

Finally, people’s immune status—especially their history of prior infectious diseases—crucially determines how they respond to a new infection. The immune system remembers previous encounters with microbes, and that affects how it fights and responds to new ones.

In the case of dengue, infection with one type of the virus can make the individual more susceptible to infection with a different type of the same virus. In other situations, a recent infection with a virus can affect susceptibility to an unrelated new infection. For example, having had the flu before coronavirus infection could change the course of Covid-19 disease in unpredictable ways. When a person’s immune system has no memory of an infectious agent, it may be unable to rapidly respond, and this may allow the invader to escape detection, giving it more time to cause damage.

Taken together, these variables create a complex picture. The amount of virus, our genes, the route of infection, the variety of the virus and our immunological history combine to produce outcomes ranging from See “Covid-19,” A7

Opinion BusinessMirror

www.businessmirror.com.ph

Wednesday-Sunday, April 8-12, 2020 A7

‘Driving Eco-Innovation The tomb emptied by the risen Lord thru Intellectual Property’

By Rowel S. Barba

L

etting loose the wrath of the lethal Covid-19 may be Nature’s way of moving toward a restoration of the ecological balance which we humans have perverted for too long, all in the name of selfish developmental interests.

The World Health Organization said the novel coronavirus is a disease that jumped to humans from animals, with bats as the likely source.

The United Nations Environment Programme has warned that the world is witnessing a rise in zoonotic diseases like the coronavirus family due to the “unprecedented destruction” of ecosystems by human activity.

This year, we heard Nature’s cries not only through the blow of a pandemic pathogen but also in the apocalyptic wildfires of Australia, the avalanche in Turkey’s eastern Van Province, and the rainstorms in Brazil’s Southeast Region, which was recorded to have the heaviest rainfall in more than 110 years.

While their resulting fatalities and damage to wildlife vary, all are equally jarring and should be alarming causes for us to get our act together.

As we mourn and hold on hopes with the rest of the world, the Philippines will celebrate the annual Intellectual Property (IP) Month this April 2020 with the theme “Driving Eco-Innovation thru Intellectual Property.” With this theme, the Intellectual Property Office of the Philippines (IPOPHL) urges innovators to develop solutions that are always in harmony with our environment.

Although we have been preparing for this IP Month’s activities weeks before the local Covid-19 outbreak, we knew better than to push through and endanger our stakeholders, exactly why we suspended all activities even before the Metro Manila-wide quarantine ordered by Malacañang.

But IPOPHL will not suspend efforts in raising awareness on the

Covid-19. . .

continued from A6

asymptomatic infection to death.

And because these parameters can vary so much from infected person to infected person, it’s impossible to predict who will live and who will die. Therefore, despite accumulating evidence that most who acquire the coronavirus will not develop severe disease, the uncertainty of who is at grave risk enhances the pandemic’s terror.

In this regard, today’s situation is similar to past pandemics in which the matter of who would live and

IPOPHL, through its social-media accounts, will be very active throughout April in sharing interesting facts on trademark, patent, utility model, industrial design and copyright. Our campaign will draw on the different reasons to celebrate the IP system and its indispensable role to our economic development, cultural advancement and, most important, in strengthening our environmental consciousness. importance of IP, especially in these times of adversity—one of the significant purposes of the IP system is to stir socially beneficial solutions through incentivizing inventors and innovators while ensuring that the fruits of these innovations are within the general public’s reach.

IPOPHL, through its socialmedia accounts, will be very active throughout April in sharing interesting facts on trademark, patent, utility model, industrial design and copyright. Our campaign will draw on the different reasons to celebrate the IP system and its indispensable role to our economic development, cultural advancement and, most important, in strengthening our environmental consciousness.

We hope this virtual IP Month Philippines 2020 will be far-reaching. We hope the IP system can aid not only in the world’s search for a quick fix medicine and a vaccine to combat Covid-19, but also in developing long term, innovative solutions for the healing of Nature.

Atty. Rowel S. Barba is the Director General of the Intellectual Property Office of the Philippines.

who would die was also mysterious —and led people to attribute outcomes to fortune or supernatural intervention. However, Covid-19 is different than the 1918 flu, in that today a robust scientific establishment can quickly analyze what’s happening and help figure out how best to prevent and treat infections.

Science is humanity’s lifeline. In the days ahead, physicians, scientists, epidemiologists and many more will work hard to understand individual susceptibility to coronavirus. The Covid-19 pandemic will teach us a great deal of new science that will make us better prepared for the next outbreak.

Msgr. Sabino A. Vengco Jr.

Alálaong Bagá

T

he gospel text (Matthew 28:1-10), which is not a report of the resurrection itself of Jesus, details however some of the circumstances that surrounded His resurrection. In a way, they complete our reflections on the meaning of Christ’s Passover as the foundation of our own sharing in the Paschal Mystery.

A heavenly event OF course nobody was there to witness the actual unique phenomenon of Jesus rising from the dead. That is why the early Christians’ resurrection accounts focus more on the appearances of the risen Lord, and also on the empty tomb. First the evangelist gives the detail that the discovery of the empty tomb was introduced by a great earthquake, indicating that the event of the resurrection of Jesus had repercussions in the very foundations of the Earth. Next there was the involvement of heaven in the coming down of an angel who rolled back the stone covering the entrance to the tomb and sat upon it, bright as a lightning and his clothing white as snow,

resembling the heavenly appearance of Jesus transfigured on the mountain (Matthew 17:2). The messenger from God was like a sentinel to ensure the proper signification of the empty tomb to any witness.

The whole experience was tremendous and terrifying, and the guards were shaken with fear and collapsed down like dead men. The women, who had come to see the tomb that first day of the week, the third since Jesus died on the cross and was buried, were reassured by the angel: “Do not be afraid! I know that you are seeking Jesus the crucified.” Then the angel made the grand proclamation of the Easter message apropos the empty tomb: “He is not here, for He has been raised just as

He said.” And the women were asked to see for themselves that the tomb indeed was empty: “Come and see the place where he lay.”

A message of new life

The tomb no longer possessed in its hold any body. Jesus is raised by the power of God! He is living, not dead!

This proclamation of the mystery of the resurrection was first announced to the women devout followers of Jesus. And the witness of these women has become the foundation of the message of the resurrection (Mark 16:1-7; Luke 24:1-2; John 20:11-18), although the witness of women in rabbinic Law was discounted. The proclamation of Jesus’ resurrection is also a commission instructing the women to share this heavenly event to the disciples of Jesus and to direct them to go to Galilee, thus the witness by the women would be confirmed by Jesus’ appearance to the disciples in Galilee. Jesus’ ministry is directed back to Galilee, where it began and where it would be brought to completion.

As the women hastened to carry out the task given them to announce to others the resurrection, they encountered Jesus. And as He greeted them, they approached Him and paid Him homage embracing His feet. The empty tomb with the subsequent

S

eafarers have a right to return home at the end of their contract at no cost to themselves. Unfortunately, thousands of seafarers, mostly from cruise liners with expired employment contracts, have been forced into continued labor aboard ships due to the Covid-19 pandemic.

Airline and port restrictions have made it difficult for seafarers to get home. In some instances, repatriation is almost impossible because most international air traffic is grounded.

As a general rule, the period of employment shall be for a period mutually agreed upon by the parties, but not to exceed 12 months.

The contract shall cease when the seafarer completes his period of contractual service aboard the ship, signs-off and arrives at either airport or seaport of the point of hire.

If a seafarer keeps working longer than the agreed period, any subsequent period is to be considered an extension of the contract.

An extension is not usually

encouraged due to factors such as fatigue, complacency, and other health reasons and the same may not be accepted if relief is already lined up.

Any extension of the contract can be voluntary or compulsory.

Extension is voluntary if it is with the mutual consent of both parties. It is compulsory if he stays until the ship’s arrival at a convenient port and/or after the arrival of the replacement crew provided that, in any case, the continuance of such service shall not exceed three months.

At present, there are many compulsory extensions because of port and airport restrictions.

Extending the contract due to

Alálaong bagá, Jesus risen has carried out his Passover from death to life in God’s glory, from this world into that eternal union with the Almighty. The way is now open for His followers and all believers to pass over into what truly lasts forever, to share in the victory of Him who is “the life and the resurrection.” We are initiated in our crossing through the saving waters of baptism, where we die to sin and rise up to new life in Jesus Christ. In this journey from darkness into light, we are like Abraham who, to follow God’s call, must relinquish all that one holds dear in this life, all our hopes and dreams, because God must be our hope and our dream and our future.

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

Emerging markets are peering over the precipice

By Marcus Ashworth |Bloomberg Opinion

T

he financial fallout from the coronavirus is spreading rapidly and that’s ugly news for many developing countries.

The risk of contagion, where the collapse of one currency triggers a global panic, is very real.

Outflows from emerging market funds totaled more than $83 billion in March ($53 billion in bonds, $31 billion in equities), according to data from the International Institute of Finance. The last thing the world needs is an emerging markets crisis, yet all the conditions are there: collapsing commodity prices, a sudden economic shock, over-indebtedness and fragile currencies.

The persistent strength of the dollar, despite plentiful liquidity, has pushed major emerging currencies such as the Mexican peso, the South African rand and the Brazilian real to depreciate by about 25 percent this year. The US Federal Reserve has acted swiftly to extend dollar swaps, which give foreign central banks the capacity to deliver US dollar funding to their institutions, but the attractiveness of dollar cash outweighs all in a crisis.

The oil price crash couldn’t have come at a worse time as it drags down commodity prices (on which many developing economies rely) generally and halts business investment.

The G-20’s energy ministers may

meet this week to discuss the slump.

They might want to encourage their finance ministers and central bank colleagues to try to find a mutual response for pegging back the dollar as well.

One radical approach would be joint action from central banks to sell dollar reserves in favor of other currencies. The G-7 countries did something similar to halt the rise of the yen after Japan’s earthquake and tsunami in 2011. More important is that the developed world has a financial response at the ready if this pandemic causes havoc among the weaker developing countries.

A global safety net is needed to keep funding available for low-income countries. The International Monetary Fund will need a major injection of capital. Its existing $1 trillion firepower is inadequate with more than 80 countries already sounding it out for help.

Confidence is low in the IMF after last year’s failed $57 billion bailout of Argentina, but it remains the best vehicle for the G-20 to use in a 2009-type response to a global

financial crisis.

This might require new issuance of the only truly global currency, the IMF’s so-called “special drawing rights” (an international reserve asset whose value is based on the price of a basket of currencies: the dollar, the euro, the yuan, the yen and the pound). Wealthier countries could help by forgoing some of their own quota to let the IMF roll out much more comprehensive aid to countries that need it.

Speed and flexibility will be critical if the virus and its economic effects hit vulnerable markets as hard as they have major western economies. More than half of the world’s lowest-income countries were in distress before the pandemic. But borrowing has been rising fast with dollar debt in the “frontier markets” (the tier below emerging markets) now exceeding $200 billion. More than one-quarter of local currency debt in emerging markets is owned by foreigners, so it’s especially vulnerable to capital flight. Emerging market corporate debt has ballooned to more than $2.3 trillion.

China propped up much of the developing world during the last financial crisis but it doesn’t have the same firepower now with so much more credit leverage in its own financial system. The stability of the yuan to the dollar is paramount for

Covid-19: Extension and early termination of seafarer’s contract

By Dennis R. Gorecho

appearance of Jesus has now shared with the women its risen Lord. Jesus spoke to them the same words as did the angel: Do not be afraid! And the commission was repeated to the women to direct the disciples to meet him in Galilee. In this certainty that Jesus is alive and there with them, His followers are now to live a fellowship with Him which means total identification with His own mission for the whole world.

Covid-19 should only be used with appropriate safeguards to protect seafarers.

In the absence of a new document or POEA contract, as long as the seafarer has not yet arrived at the point of hire, it is legally presumed that the original contract is still subsisting.

The seafarer is entitled to be paid his wages and other benefits after the expiration of his contract and during the extended period. The obligations and liabilities of the employers do not end upon the expiration of the contracted period as they were duty bound to repatriate the seafarer to the point of hire to effectively terminate the contract of employment. (Inter-orient Maritime v. NLRC,330 Phil. 493).

The seafarer must not be forced to accept monetary benefits that are lower that those stated in the original contract. There are reports that some employers are paying only basic wages during the extension period.

On the other hand, the seafarer’s

The seafarer, when discharged and repatriated shall be entitled to basic wages from date of signing off until arrival at the point of hire.

He shall also be provided with accommodation and food, allowances and medical treatment, if necessary, during the same period.

employment is terminated even before the contract expires as soon as he arrives at the point of hire and signs off for medical reasons, due to shipwreck, voluntary resignation or for other just causes.

Where the ship’s voyage is discontinued necessitating early termination of the contract, the seafarer shall be entitled to earned wages, repatriation at employer’s cost and one month basic wage as termination pay, unless arrangements have been made for him to join another ship belonging to the same principal to

complete his contract in which case he shall be entitled to basic wages until the date of joining the other ship. (Section 23, POEA contract) If the ship arrives at a convenient port before the expiration of the contract, the employer may repatriate the seafarer from such port, provided the unserved portion of his contract is not more than one month. He shall be entitled only to his earned wages and earned leave pay and to his basic wages corresponding to the unserved portion of the contract.

The seafarer, when discharged and repatriated shall be entitled to basic wages from date of signing off until arrival at the point of hire. He shall also be provided with accommodation and food, allowances and medical treatment, if necessary, during the same period.

Seafarers must be cautious in signing documents of repatriation if it is part of the employer’s plan to cut operational losses due to the Covid-19 pandemic.

If the employer instructs seafarers to sign letters of resignation

Beijing. It cannot risk another capital outflow crisis as happened in 2015 and 2016.

Countries without oil and other big natural resource assets have also seen their currencies plunge, including those with large current account deficits (such as Turkey) or those that rely heavily on dollar funding (many Asian countries). Angola (oil), Ecuador (oil) and Zambia (copper) are close to defaulting. Argentina and Lebanon have already.

South Africa, which relies heavily on overseas funding, lost its last investment-grade rating recently.

Its already stricken state-owned power company Eskom is facing a big hit to revenue from the coronavirus lockdown.

Indonesia—whose virus death toll has surged to become the highest in Asia after China—managed to raise several billion dollars in a record bond sale on Monday at interest rates of between 3.9 percent and 4.5 percent (compared to 2.5 percent a month ago), showing that the debt capital markets remain open for at least the stronger emerging nations.

Being able to fund yourself is always better than relying on international support.

But not all countries are as fortunate as Indonesia. The G-20 needs to think now of a joined-up financial response for the rest of the world before it’s too late.

or request for early repatriation, it might be an attempt to evade its obligation under the contract. The seafarer shall be liable for his repatriation cost as well as the transportation cost of his replacement.

Referring to the issue of crew changes, the International Maritime Organizations (IMO) noted that professional seafarers should be granted any necessary and appropriate exemptions from national travel or movement restrictions to allow them to join or leave ships, and that governments should permit them to disembark ships in port and transit through their territory (i.e., to an airport) to allow crews to be changed and seafarers to be repatriated.

IMO Secretary-General Kitack Lim said it was “crucially important that the flow of commerce by sea should not be unnecessarily disrupted.”

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

A8 Wednesday-Sunday, April 8-12, 2020

Port utilization rates back at a high 90%

By Lorenz S. Marasigan @lorenzmarasigan

J

UST a few days after it was able to ease the looming congestion at the ports in Manila, the Philippine Ports Authority (PPA) noted that utilization rates at the international terminals have once again reached the 90-percent mark.

This, after cargo shippers and consignees fail to withdraw their containers from the ports, causing, yet again, another near-congestion incidence at the ports.

“The last time we called the attention of cargo shippers, and consignees, they pulled out their overstaying cargoes and we reached 75 percent utilization.

Now, it is over 90 percent again. I am again appealing to you—be consistent in pulling out your overstaying cargoes to make much needed space in our ports,” Transportation Secretary Arthur P. Tugade said.

Shippers and consignees last week explained that the red tape at the clearing facilities of the Bureau of Customs (BOC) and the process of shipping line documents were behind the overstaying of their cargo.

After the transportation department sought their cooperation, however, the yard utilization rates at the ports went down from 98 percent to 75 percent, almost close to the 60-percent rate goal of the agency.

“We are targeting an approximate of 60-percent utilization to achieve an ideal operation. This congestion will not only limit the movement of cargoes in our ports, it will also result in delays of cargo delivery, which will affect prices of goods,

and that’s not what we want right now, or ever,” Tugade said.

Jay Daniel R. Santiago, PPA general manager, said his group is coordinating with the BOC to hasten the clearing process, especially at the Manila International Container Terminal (MICT).

“We are appealing to consignees to continue withdrawing their cargo to sustain the momentum. In the meantime, PPA is coordinating with the BOC for the disposition of the over 800 overstaying reefer containers in order to make up much needed space in the reefer yard of MICT,” Santiago said.

The government, he said, has already issued a joint administrative order that spells out sanctions on overstaying cargo at the ports. Mainly, the sanctions involve confiscation of containers that have not been withdrawn by April 14.

“If we continue to ignore calls to withdraw even only those cleared, ready for delivery, and overstaying cargo, our ports are in danger of total collapse, resulting in full-blown port congestion, or worst, a shutdown, and consequently a shortage in the much-needed goods and supplies which are expected to address the demands of the market,” Santiago warned.

To complement the joint order, the PPA issued on Tuesday a new memo that allows truckers “unhampered access to and from the ports to enable them to proceed to their final destination.”

This new order was issued a few hours after Cabinet Secretary Karlo B. Nograles announced the extension to end-April of the enhanced community quarantine in Luzon due to the coronavirus disease 2019 (Covid-19) outbreak.

Production up in Feb, but ECQ to hit manufacturing in March

T

By Cai U. Ordinario

@caiordinario

HE implementation of the enhanced community quarantine (ECQ) would likely affect the overall production of the manufacturing output starting in March, according to the National Economic and Development Authority (Neda).

This despite the Volume of Production Index (VoPI) posting a growth of 3 percent in February 2020, faster than the 0.1-percent growth posted in January and the 9.3-percent contraction in February 2019.

In an e-mail to BusinessMirror, Assistant National Statistician Divina Gracia L. del Prado of the Philippine Statistics Authority (PSA) said this growth was the fastest since August 2018 when the VoPI posted a 3.1-percent growth.

“For March, we expect that the enhanced community quarantine has weighed heavily on the domestic demand on manufacturing

products. Strategies to help the manufacturing establishments affected by the outbreak have to be put in place,” Socioeconomic Planning Secretary Ernesto M. Pernia said.

“We also expect that the global supply chain disruptions brought by the pandemic will have a negative effect on the manufacturing and merchandise exports,” he added.

Neda listed those manufactured goods that will likely increase in production in the coming months as: food, beverages, chemical products and health-related manufactures.

Meanwhile, identifying sources of supply of raw materials, and ensuring that the supply and distribution chain remain unhampered are key elements for sustained production and distribution of essential goods and services, Pernia also said.

“The economy should be able to quickly adapt to and thrive under

the new normal. Utilizing digital platforms is crucial in optimizing production and distribution of goods and services. Business continuity plans must also be formulated, particularly for the most vulnerable micro, small and medium enterprises.” Pernia added.

The impact of Covid-19 on other countries is expected to be felt in the Philippines via tourism, aviation, trade, and overseas Filipino workers’ remittances.

To help sectors adjust to the “new normal,” the Inter-agency Task Force Technical Working Group for Anticipatory and Forward Planning, chaired by Neda, is discussing recommendations and possible interventions.

The group did surveys for business owners, consumers, and agriculture and fisheries sector. A public consultation on the new normal was opened. A report of the group will serve as blueprint for a whole-of-government-cumprivate-sector effort for the country’s recovery and rehabilitation.

February results

THE country’s manufacturing output posted its highest growth in over a year, according to results of the Monthly Integrated Survey of Selected Industries (Missi) released by the PSA. Missi data showed 10 major industry groups posted double-digit growth in February—led by printing, with growth of 38.4 percent and fabricated metal products, 30.3 percent.

PSA data also showed the VoPI growth of machinery except electri-

cal group at 28 percent, followed by chemical products with 23.8 percent; beverages, 16.9 percent; and wood and wood products, 11.3 percent.

Meanwhile, PSA data showed the Value of Production Index (VaPI) continued to decline, with a contraction of 1.8 percent in February.

The VaPI contracted by 5.2 percent in January and 6.2 percent in February last year.

The PSA traced the VaPI contraction largely due to 20 major industry groups that saw doubledigit contractions, led by petroleum products, the VaPI of which contracted 35.9 percent.

Data showed VaPI contracted for tobacco products at 26.1 percent; leather products, 26.1 percent; miscellaneous manufactures, 24.4 percent; basic metals, 14.9 percent; transport equipment, 12.1 percent; and paper and paper products, 10.6 percent.

Meanwhile, Missi data showed the average capacity utilization rate was at 84.6 percent. This was largely because 12 of the 20 major industries had at least 80-percent capacity utilization rates during the month.

“More than a quarter of total manufacturing establishments operate at full capacity,” PSA said.

Data showed factories that operated at full capacity or 90 percent to 100 percent in February accounted for 27.9 percent of total manufacturing firms. PSA also said more than half or 54.4 percent operated at 70 percent to 89 percent capacity, while almost one-fifth or 17.7 percent operated below 70 percent capacity.

DOF chief: Food security, LGUs, MSMEs get priority in funding

By Bernadette D. Nicolas

E

@BNicolasBM

CONOMIC managers admitted on Tuesday that government funds to respond to the pandemic are “not inexhaustible.”

Despite this, Finance Secretary Carlos G. Dominguez III was quick to reassure the public that the country is in a “good position to meet the financial challenge posed by Covid-19.”

“The President’s fiscal policies since the start of his administration, of vastly improving our revenue flows as well as being very judicious with expenditures and investments, have placed us in a good position to meet the financial challenge posed by Covid-19. We must realize however that we do not know how long this contagion will last and that our funds are not inexhaustible. We must therefore prudently marshal our resources and prepare for all eventualities,” said Dominguez in a Viber message to reporters.

Moreover, Dominguez, who also chairs the Economic Development Cluster, said the Bayanihan Law grants the President the power to use the funds of governmentowned and -controlled corporations as well as to realign the 2020 budget during the contagion to meet the new priorities due to the Covid-19 pandemic.

“We will reallocate funds for: 1) assistance to local governments, 2) assistance to MSMEs by subsidizing the salaries of their employees who are mostly what some would call lower middle class, 3) support the DA/DTI in enhancing food production and availability,” he said.

For his part, Budget Secretary Wendel E. Avisado told the BusinessMirror that he shares President Duterte’s opinion that the P275-billion fund under Republic Act 11469 or the Bayanihan to Heal Law may be insufficient to address the long-term effects of the disease.

Of this budget, P200 billion will be used by the Department of Social Welfare and Development (DSWD) to provide cash aid for two months to the 18 million “poorest of the poor” households.

Avisado said local government units (LGUs) have appealed for more funds.

“Yes, [I agree] because of the clamor from the LGUs that there are more to be given and included than the list/data of DSWD and to include even the middle class,” he said in a text message.

The budget chief said they would know how much more money should the government release following the required validation of the list of beneficiaries.

“We’re doing this one at a time.

We finish the 18 million first then work on the difference after the required validation is done. That would give us the true picture too of how much more money to raise,” he added.

Aside from the social amelioration program, Avisado also conceded that other government programs, projects and activities need additional funds to respond to the crisis.

Relatedly, state health insurer Philippine Health Insurance Corp.

(PhilHealth) approved the release of almost P6 billion out of the P30billion assistance package to accredited health-care institutions to help them respond to the pandemic.

“We have approved a fund release—about almost P6 billion— but the banks are operating for two hours in a day as well as our office personnel, half are operating as skeletal force so the fund transfer is not that fast. P30 billion is a huge amount but we are trying our best. We are talking to the banks to hasten the fund release,” PhilHealth President and CEO Ricardo C. Morales said in a mix of English and Filipino in a virtual Laging Handa public briefing.

Moreover, PhilHealth said it can sustain funding for the coverage of Covid-19 cases even though the Luzon-wide lockdown was extended until April 30.

According to Duterte’s second weekly report to Congress released on Monday night, PhilHealth approved the benefit packages to cover the cost of treatment for all patients with Covid-1 from February 1 until April 14.

Beyond April 14, PhilHealth will continue to provide financial coverage to Covid-19 cases through a recomputed case rate benefit package. “That is why we are enforcing a case rate so that we would have sustainability of our anti-Covid-19 campaign [and yet] still fund it,” he said.

Still, Morales said they must exercise prudence because the funds, while sufficient for now, are limited.

PhilHealth also announced on Tuesday that it is extending until April 30 the payment of contribution of self-paying direct individuals, professional practitioners and members of Group Enrollment Scheme for the the first quarter of the year.

www.businessmirror.com.ph

Companies BusinessMirror

Wednesday-Sunday, April 8-12, 2020

B1

Jollibee seeing early signs of recovery from virus fallout

J

By VG Cabuag

@villygc

ollibee Foods Corp. (JFC) on Tuesday said it is seeing early signs of recovery of its operations especially in China where the coronavirus disease 2019 (Covid-19) is believed to have originated.

Ernesto Tanmantiong, the company’s CEO, said the disease has brought “unprecedented disruption” to its operations in the Philippines and other parts of the world, but it is already planning for the full restoration of operations.

“We expect growth to resume even if gradually, driven by our delivery, takeout and drive thru business channels. We believe that our consumers will continue patronizing strongly our products and services, once constraints related to the control of the Covid-19 are lifted," said Tanmantiong.

“Our business and our people had shown great resilience in difficult times in the past, resulting eventually but always in the resurgence of our business. They are demonstrating this resilience once again in this crisis,” he added.

The company on Tuesday declared a cash dividend of P0.62 per share of common stock for all shareholders of

record as of April 27, or just half of the cash dividend declared at about the same time last year. Payment date will be on May 22.

“We continue to declare cash dividend even though at significantly reduced amount, as part of our effort to continue serving all our stakeholders even in the middle of a crisis. We will pay this dividend from JFC’s cash reserves,” said company Chief Financial Officer Ysmael V. Baysa.

“We look forward to the recovery of our business in different parts of the world in the months ahead following the trend that we are experiencing in China and Singapore,” Baysa added.

The company said it is postponing about P9 billion worth of capital expenditures from 2020 to 2021 given the operational constraints to the construction of facilities and uncertain demand volume due to the limited mobility of consumers.

Its planned capital expenditures for

2020 are being reduced by 64 percent to just P5 billion from P14 billion.

Operating costs are also significantly being reduced at all levels—at the stores, commissaries, support services and main offices in all regions in the world, it said.

The business in China has been showing indications of recovery, the company said.

At the height of the Covid-19 epidemic in China in the week of February 10, 107 of its 342 stores, or 31 percent, were closed temporarily due to the steep drop in customer visits and to ensure the safety of its employees.

However, the delivery business continued serving customers from the stores that were operating and continued to grow.

The delivery business, which accounted for 40 percent of sales of the company's biggest brand in China, Yonghe King, accounted for 76 percent of its sales as of the week of March 30. It is growing by 20 percent compared to the same period a year ago.

The number of temporarily closed stores declined to 22 representing 6 percent of Yonghe King’s total store network as of the week of March 30, it said.

It also implemented the contactless takeout in which the customer sends and pays for its order by mobile phone application to a particular store and picks up the order outside the store at a specified time with-

Frontliners, Red Cross tap tech to fight virus

F

ilipinos can now turn to a mobile app that uses wireless, geo-location and sensory capabilities of mobile phones to trace contact events between people to prevent the spread of coronavirus disease 2019 (Covid-19).

The Philippine Red Cross (PRC) said the app named “RC143” will also allow users to contact the Red Cross directly which will result in a more efficient, effective and personal response to questions and concerns.

“For the past few weeks, Red C ross volu nteers — sea soned veterans in mobile and Internet innovation in the Philippines, next generation developers, and data scientists—remotely collaborated on the RC143 project, leveraging the latest technologies to aid our nation’s war against Covid-19,” said Richard Gordon, chairman of the PRC. Gordon said the RC143 app is part of the Red Cross' end-to-end mobilization system.

“Data processed in the backend will allow Red Cross frontliners to talk to the right people, ask the right questions, act to isolate and treat the infected, and at the same time get their families and communities out of harm’s way,” said Gordon.

The Red Cross expects to integrate the end-to-end RC143 system in its command center, rollout the RC143 app to its frontliners, and the general public.

Further, the Red Cross is partnering with local government units (LGUs) and the private sector to push increasing adoption from where the app’s intelligent systems will benefit progressively.

Contact tracing

Available on the Google Playstore, the RC143 app periodically gathers data, primarily using phones’ wireless capabilities, layered with location data and other sensory capabilities of the

modern smartphone.

Each data point adds context, thus extending RC143’s accuracy and capabilities. For example, with more contextual data, the app can provide better tracing context (e.g., number of users within a close proximity, location, duration, etc.), allowing the Red Cross to notify users who had contact (direct or indirect) with a Covid-19 positive patient.

The app will also enable users to navigate away from high risk areas, guided by constant monitoring by Red Cross personnel and AI. “Intel is needed, so to speak, to outsmart an insidious enemy that is Covid-19. Our breakthrough for now, is in deploying CCT or contextual contact tracing to alert PUIs [persons under investigation] at various levels of risk in their asymptomatic stages, powered by AI and Deep Learning analytics to help determine where outbreaks are or may occur,” said Dennis Mendiola, Senior Consultant to the Chairman and former Governor of the Red Cross.

Mendiola added that the common smartphones in people’s hands interact with the network, with systems, and with other mobile devices passively, recording data that could be very meaningful in the fight against Covid-19.

According to Mendiola: “The Department of Information and Communications Technolog y [DICT] is actively supporting this initiative and supporting its wide deployment through its communication and computing resources. It is also providing valuable advice on how to accomplish these tasks while safeguarding the privacy of users.”

I n for m at ion g at he re d b y RC143 app is also expected to provide the national government, LGUs and communities impor tant scenar ios to plan mitigation and response. With

massive adoption, according to RC143’s developers, the app can provide more and more accurate data indicative of the health of users going in and out of lockdown zones.

Mendiola disclosed a navigational feature in RC143’s pipeline that will be useful for people to identify high-risk zones. "With more and more people downloading and carrying the app, it can aid citizens in their cautious but purposeful return to essential economic activity."

“We are aligned with the objectives and directives of the Philippine government, even as RC143 is compliant with the Mandatory Reporting of Notifiable Diseases and Health Events of Public Health Concern Act along with the Data Privacy Act," said Gordon.

Any resident of the Philippines with an active Philippine mobile number can use RC143, a free app. To download the app, users can simply go to Google Play and search for “RC143.”

The app is currently only available for Android users (version 6.0 and above). However, RC143’s developers have noted that it will soon be available for iOS. In a related development, the Department of Health (DOH) said it has partnered with Telimed Management Inc. and Medgate to provide free telemedicine consultations to patients who need Covid-19 medical advice, and other non-Covid-19 primary care consultations. The DOH launched its Covid-19 hotlines: 02-894-COVID(0289426843) and 1555.

Starting April 7, the DOH said residents in the National Capital Region can call the 24/7 telemedicine hotline at 02-8424-1724 to consult with a doctor for Covid-19 medical advice and non-Covid-19 healthrelated concerns, free charge. All consortium doctors are licensed and certified to provide telemedicine consultations. Claudeth Mocon-Ciriaco

out having direct interaction with the store crew, thus keeping social distancing even with a takeout purchase.

In the North America, Smashburger has suspended its dine-in services, but continued serving its customers through online delivery to homes and takeout business.

Filipino brands Jollibee, Chowking and Red Ribbon also continued to operate with drive-thru and takeout and will start operating its online delivery to homes this month.

In Singapore, the delivery business grew by 256 percent in the crisis period versus year ago, increasing its sales contribution to 22 percent from 7 percent, which pushed total same store sales to grow by about 4 percent.

In the Philippines, the delivery business had grown to 5 percent, from 3 percent of total system-wide sales in the early part of 2019.

In Metro Manila, and different parts of the country, the delivery business in stores that are currently open during the quarantine period is growing at an average of 50 percent of same store sales growth versus delivery sales in the early part of 2020.

Aboitiz extends aid to Visayas, Mindanao

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he Aboitiz Group has ramped up its efforts in helping frontliners and affected localities amid the ongoing health crisis, extending aid to Visayas and Mindanao in addition to simultaneous efforts in Luzon.

While the Aboitiz Group’s headquarters is in Manila, Cebu is home to some of its businesses including several AboitizPowersubsidiaries,AboitizLand,Pilmico,CitySavings, and Aboitiz Construction, among others.

OnApril3,AboitizPowerunitVisayan ElectricCo.(the country’s second-largest privately-owned distribution utility) dropped off 1,500 N95 masks, 10,000 pairs of nitrile gloves, and 1,300 safety goggles at the Vicente Sotto Memorial Medical Center, the designated testing facility for coronavirus disease (2019) in the Visayas.

AboitizLand also turned over 2,000 surgical masks to the local government of Liloan in northern Cebu while Aboitiz food business unit Pilmico is also distributing 1,200 pieces of bread to frontline workers around Cebu for one month starting March 26 and also gave N95 masksandgogglestotheprovincialgovernmentofLeyte.

The Aboitiz Group likewise donated nitrile gloves to the Bureau of Immigration in Cebu.

“The Aboitiz Group continues to put people first during this difficult time through our support for the government and our brave medical and security frontliners. We remain committed to supporting our Covid-19 frontliners for the long term, and we hope our assistance makes a difference in this ongoing battle,” said Sabin M. Aboitiz, Aboitiz Group president and CEO. In March, AboitizPower-led Therma Visayas Inc. (TVI) turned over close to P500,000 worth of medical supplies, personal protective equipment, and food to the Toledo City government. The donation included 200 bottles of ethanol alcohol, 100 boxes of surgical face masks, 100 boxes of sterile gloves, 2,500 food packs, 2,000 canned goods, 20 sacks of rice, and liquid hand soap and bleach.

TVI also extended support to the rest of Cebu’s third districtthroughitsdonationtotheofficeofDeputy House Speaker Pablo John Garcia. Among the items that were turned over last April 2 were 175 HazMat suits, 100 N95

masks, and 20 boxes of nitrile gloves.

Furthermore, AboitizPower unit Therma Power Visayas Inc. donated P500,000 worth of rice to the City of Naga through its General Services Office on March 26 and March 31, which the local government is eyeing to complement the food packs due for distribution to constituents within the month of April.

Meanwhile, the Ramon Aboitiz Foundation Inc. (RAFI), the Aboitiz’s family foundation, has partnered with the Cebu City government and Metropolitan Cebu Water District (MCWD) for the launching of a handwashing campaign called #HUNAWunaw to combat the spread of COVID-19.

Through #Hunaw, the Cebuano word for “wash,” RAFI aims to raise awareness on the importance of proper handwashing through the deployment of portable sinks at bus terminals, parking lots, jeepney stops, and other places where people frequent around the city.

Aid to Mindanao

In Mindanao, the Aboitiz Group, through the Aboitiz Foundation and AboitizPower subsidiaries Davao Light and Power Co., Inc., Hedcor Group, and Therma South Inc., donated over P785,000 worth of items (162 rice sacks and 17,665 assorted canned goods) to Davao City local government unit. The donations were turned over to Task Force Davao.

AboitizPower unit Cotabato Light & Power Co. also pitched in, donating 125 rice sacks and 3,648 canned goods to Cotabato City and the municipalities of Sultan Kudarat and Datu Odin Sinsuat.

TheAboitizGrouphassofarcontributedaroundP130 million to public and private campaigns nationwide, all of which are aimed at assisting communities affected by the Covid-19 pandemic. The amount includes P100 million recently donated to Project Ugnayan, a collaboration among local companies in partnership with the Philippine Disaster Relief Foundation.

TheserecentturnoversarepartoftheAboitizGroup’s long-term efforts to help the government address the concerns of frontliners as well as the communities it serves amid the pandemic.

B2

Companies BusinessMirror

Wednesday-Sunday, April 8-12, 2020

PSE STOCK QUOTATIONS

April 7, 2020

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

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

47 101.1 61 20.1 7.8 37.05 8.66 19.82 41 88.05 17.62 106.8 53 0.61 15.3 0.5 2.51 0.86 0.3 0.63 169 1580

47.5 101.5 61.3 20.55 7.88 37.4 10 19.9 43.8 102.9 17.92 107 53.9 0.67 15.9 0.58 2.67 0.94 0.315 0.68 169.5 1620

47.5 105.3 62.95 21 7.9 38.1 8.61 19.52 43.95 76.6 17.68 109 53.8 0.56 15.8 0.5 2.66 0.86 0.32 0.62 170 1620

47.5 106 63.4 21 7.97 38.4 8.65 20.2 43.95 76.6 17.68 112.5 53.9 0.61 15.9 0.5 2.67 0.87 0.34 0.68 170 1620

47.4 100 59.7 19.94 7.8 37.05 8.61 19.52 43.95 76.6 17.68 107 53 0.56 15.3 0.5 2.5 0.86 0.29 0.62 169 1620

47.5 101.5 61 20.8 7.8 37.05 8.65 19.82 43.95 76.6 17.68 107 53 0.61 15.3 0.5 2.67 0.86 0.29 0.68 169.5 1620

5200 3394950 3209690 72800 125500 6284300 1100 457800 300 10 34700 784170 15890 52000 46400 7000 150000 223000 460000 3000 1680 10

246850 347976610 197443250.5 1470911 989894 238431880 9487 9077000 13185 766 613496 85156260 848103.5 31010 733610 3500 379980 191990 147100 1980 285045 16200

237350 -151190265 -71997579 -1104566 -546291 -91726665 -4057178 -10608 -24324639 -752640 -52730 -

INDUSTRIAL AC ENERGY 2.02 2.04 2.11 2.12 2.01 2.04 6391000 13068260 0.95 1 1 1 1 1 13000 13000 ALSONS CONS ABOITIZ POWER 28.75 28.9 28.95 29.3 28.05 28.9 3048800 88044370 BASIC ENERGY 0.171 0.179 0.165 0.179 0.165 0.179 690000 117260 17.6 17.9 18.3 18.98 17.6 17.6 1210200 21926802 FIRST GEN 51.15 52.9 53.5 53.7 51 51.15 22200 1139969 FIRST PHIL HLDG MERALCO 258.6 266.2 270 275 251 266.2 462560 121607674 MANILA WATER 10.62 10.68 10.7 10.8 10.52 10.62 6184700 66254204 2.6 2.61 2.61 2.63 2.58 2.61 1319000 3432190 PETRON 2.27 2.44 2.44 2.44 2.44 2.44 13000 31720 PETROENERGY PHX PETROLEUM 10.26 10.28 10 10.5 10 10.28 75300 767316 PILIPINAS SHELL 18.06 18.22 18.9 18.9 18.02 18.06 960700 17865740 7.77 7.92 7.95 7.95 7.72 7.92 194900 1523742 SPC POWER 14 15.1 15.06 15.1 13.8 15.1 2200 33072 VIVANT AGRINURTURE 6.35 6.5 6.46 6.5 6.32 6.5 168400 1086314 AXELUM 2.53 2.55 2.55 2.64 2.51 2.53 2608000 6684890 74.85 96.95 84.95 97.45 84.95 88 220 19248 BOGO MEDELLIN 11 13.78 13.7 13.8 13.12 13.12 3400 45140 CNTRL AZUCARERA CENTURY FOOD 14.26 14.3 13.9 14.4 13.9 14.3 545200 7777764 DEL MONTE 3.35 3.58 3.3 3.6 3.3 3.59 39000 135000 5 5.08 5.05 5.1 4.95 5 4555000 22829670 DNL INDUS 7.98 7.99 8 8 7.88 7.99 5401300 43199607 EMPERADOR SMC FOODANDBEV 53.5 54 53 56 52.9 54 369240 20124765 ALLIANCE SELECT 0.52 0.54 0.5 0.54 0.5 0.52 223000 117960 1.33 1.34 1.29 1.35 1.29 1.33 23005000 30460130 FRUITAS HLDG 31.5 32 32 32.5 31.3 32 668000 21380420 GINEBRA JOLLIBEE 110.3 110.5 110.2 112.5 109 110.5 2745330 304363805 LIBERTY FLOUR 30.1 42.95 39 39 39 39 800 31200 5.01 6.07 6.15 6.15 5.8 5.8 1500 8840 MACAY HLDG 4.55 4.58 4.6 4.63 4.51 4.55 1415000 6475960 MAXS GROUP MG HLDG 0.113 0.14 0.144 0.144 0.14 0.14 810000 115340 1.79 1.8 1.79 1.8 1.78 1.8 191000 341810 PEPSI COLA 5.09 5.1 5.01 5.18 5.01 5.1 5756000 29402640 SHAKEYS PIZZA 1.4 1.44 1.45 1.45 1.44 1.44 172000 249300 ROXAS AND CO RFM CORP 4.4 4.57 4.41 4.42 4.41 4.42 6000 26480 SWIFT FOODS 0.103 0.11 0.103 0.11 0.102 0.11 820000 84210 122.4 122.6 117.5 122.6 117.5 122.6 2118760 255275976 UNIV ROBINA 0.79 0.8 0.86 0.86 0.8 0.8 9917000 8010960 VITARICH CONCRETE B 48.1 66 48 48 48 48 200 9600 1.04 1.05 1.06 1.07 1.05 1.05 4983000 5266800 CEMEX HLDG 7.62 7.65 7.54 7.74 7.54 7.62 288700 2203990 EAGLE CEMENT 5.33 5.39 5.46 5.49 5.3 5.39 1157100 6233831 EEI CORP HOLCIM 12.06 12.2 12.3 12.3 12.06 12.2 504900 6190334 6.26 6.29 6.35 6.45 6.15 6.26 2048200 12829303 MEGAWIDE 8.8 8.95 8.5 8.7 8.5 8.7 7300 63100 PHINMA TKC METALS 0.71 0.74 0.68 0.75 0.68 0.74 311000 215010 0.58 0.61 0.58 0.65 0.58 0.58 1751000 1078450 VULCAN INDL 1.84 1.91 1.84 1.91 1.8 1.91 15000 27670 CROWN ASIA 1.85 1.88 1.95 1.95 1.82 1.85 2042000 3859930 EUROMED LMG CHEMICALS 4.5 4.7 4.6 4.7 4.6 4.7 5000 23200 3.07 3.15 3.1 3.1 3.1 3.1 18000 55800 MABUHAY VINYL 4.3 4.78 4.4 4.5 4.38 4.5 37000 164780 PRYCE CORP 0.77 0.79 0.79 0.8 0.77 0.79 738000 579180 GREENERGY INTEGRATED MICR 4.5 4.59 4.6 4.6 4.51 4.59 223000 1022500 IONICS 0.95 0.97 0.97 0.97 0.94 0.97 91000 87100 0.78 0.79 0.78 0.81 0.76 0.78 598000 471030 SFA SEMICON 6.2 6.28 6.75 6.9 6.17 6.2 2059000 13234550 CIRTEK HLDG

-432010 15167960 -5911718 -416817.5 30048624 -28873392 -1131080 -61160 -14985310 19858 -19630 -354780 -3675230 1761280 -24130 2016250 -40825547 -1408051 127000 18681600 -27863100 -4246020 89550 -15531150 17640 74699828 34110 -3635270 -92904 -2363170 -2936886 -187760 -27060 -12930 -12400 13390 55200 -125050 18920

HOLDING & FRIMS ABACORE CAPITAL 0.51 0.52 0.51 0.53 0.5 0.51 5457000 2803300 33410 5.71 5.81 5.82 5.82 5.55 5.71 16300 92444 ASIABEST GROUP AYALA CORP 491 493.4 493 503 489.4 493.4 617740 304393172 12134820 ABOITIZ EQUITY 44.15 44.6 45.1 46 43.55 44.6 2304900 101730770 10349645 6.91 7.1 7.01 7.19 6.91 6.91 2791800 19594793 -9918066 ALLIANCE GLOBAL 1.54 1.55 1.56 1.65 1.54 1.55 1791000 2786660 AYALA LAND LOG ANSCOR 5.91 6.05 6 6.02 6 6 42100 252700 165000 ANGLO PHIL HLDG 0.495 0.51 0.495 0.51 0.495 0.51 36000 18275 0.42 0.43 0.45 0.45 0.42 0.42 5270000 2270200 ATN HLDG A 0.47 0.495 0.47 0.47 0.47 0.47 250000 117500 ATN HLDG B COSCO CAPITAL 4.99 5 5.1 5.19 4.98 5 1389200 6,960,143( 2,704,975.0003) DMCI HLDG 4.03 4.04 4.1 4.25 4.04 4.04 9071000 37,443,530( 18,269,259.9999) 8.3 8.5 9 9.5 8.3 8.5 5400 46110 FILINVEST DEV 0.152 0.223 0.18 0.18 0.18 0.18 170000 30600 FORUM PACIFIC GT CAPITAL 404 404.6 410 419.8 403.4 404 330100 134370204 -16201740 HOUSE OF INV 3.7 3.79 3.71 3.79 3.6 3.79 154000 564920 -561130 56.2 56.5 55.8 56.5 55.05 56.5 2154530 120750488 -3567901.5 JG SUMMIT 0.42 0.43 0.425 0.435 0.42 0.42 30000 12800 LODESTAR LOPEZ HLDG 2.96 2.99 3.54 3.54 2.91 2.96 664000 2254550 -1161280 LT GROUP 7.21 7.28 7.42 7.5 7.21 7.21 7524700 55898952 -9291897 2.13 2.99 2.1 2.1 2.1 2.1 1000 2100 MJC INVESTMENTS 2.54 2.55 2.63 2.66 2.53 2.54 54924000 141642290 8056660 METRO PAC INV PACIFICA HLDG 2.9 3 2.75 2.75 2.75 2.75 3000 8250 0.71 0.75 0.72 0.72 0.72 0.72 27000 19440 PRIME MEDIA 0.86 0.9 0.9 0.9 0.85 0.9 531000 452900 SOLID GROUP 175.1 183.9 183.1 194 175 180 6010 1083338 1832 SYNERGY GRID SM INVESTMENTS 867 878 875 878 860.5 878 333100 291035820 -2537570 SAN MIGUEL CORP 93 93.05 95.2 97 93 93.05 573420 53909246.5 1829641.5 0.62 0.66 0.64 0.68 0.62 0.67 141000 90430 SOC RESOURCES 151.2 153 153 155 151.2 153 7780 1182537 -236976.0001 TOP FRONTIER WELLEX INDUS 0.19 0.209 0.168 0.19 0.168 0.19 910000 172620 0.127 0.134 0.124 0.139 0.124 0.135 1030000 134530 ZEUS HLDG

PROPERTY ARTHALAND CORP 0.58 0.6 0.59 0.61 0.58 0.58 2480000 1474570 33.3 33.5 33.5 34 32.7 33.5 8308100 275815335 AYALA LAND ARANETA PROP 1.02 1.06 1.05 1.05 1.04 1.04 44000 45890 BELLE CORP 1.33 1.35 1.33 1.38 1.32 1.33 123000 164650 0.55 0.56 0.54 0.57 0.52 0.55 3287000 1801480 A BROWN 0.7 0.74 0.71 0.72 0.7 0.72 170000 120560 CITYLAND DEVT CEB LANDMASTERS 3.71 3.8 3.8 3.9 3 3.8 3697000 13019270 CENTURY PROP 0.365 0.37 0.365 0.37 0.365 0.37 2810000 1037650 0.241 0.25 0.241 0.242 0.241 0.241 180000 43430 CYBER BAY 16 16.16 16.16 16.18 15.84 16.16 164600 2646288 DOUBLEDRAGON DM WENCESLAO 6.75 7 7 7 6.7 6.75 36100 251628 EMPIRE EAST 0.3 0.31 0.285 0.31 0.285 0.3 180000 53500 0.94 0.96 0.94 0.96 0.93 0.94 28751000 27244640 FILINVEST LAND 0.77 0.78 0.78 0.78 0.75 0.77 440000 335680 GLOBAL ESTATE 8990 HLDG 11.6 11.64 11.6 11.64 11.6 11.64 107100 1245166 PHIL INFRADEV 0.69 0.72 0.7 0.73 0.7 0.7 586000 411670 3.59 3.94 3.5 3.5 3.5 3.5 4000 14000 KEPPEL PROP 0.63 0.75 0.74 0.74 0.74 0.74 1000 740 CITY AND LAND MEGAWORLD 2.69 2.7 2.75 2.8 2.65 2.69 78743000 213779450 MRC ALLIED 0.14 0.141 0.14 0.143 0.139 0.14 3710000 519240 0.35 0.37 0.33 0.365 0.33 0.34 1090000 361400 PHIL ESTATES 1.56 1.73 1.73 1.73 1.73 1.73 5000 8650 PRIMEX CORP ROBINSONS LAND 14.22 14.28 14.54 15 14.2 14.22 2867300 41702456 PHIL REALTY 0.236 0.255 0.25 0.275 0.235 0.25 770000 192830 1.5 1.51 1.52 1.53 1.5 1.5 226000 341510 ROCKWELL 2.7 2.71 2.88 2.95 2.6 2.71 682000 1841010 SHANG PROP STA LUCIA LAND 1.85 1.93 1.86 1.98 1.83 1.93 792000 1472140 SM PRIME HLDG 31 31.1 31 31.6 30.2 31.1 14784600 456054050 3.55 3.59 3.42 3.59 3.39 3.59 86000 301940 VISTAMALLS 1.16 1.18 1.24 1.25 1.15 1.16 731000 868750 SUNTRUST HOME VISTA LAND 4.11 4.12 4.16 4.17 4.1 4.12 1211000 5003030

77560285 -6180 -7950 380520 -339528 -9414 -15437350 26726 35000 78744350 -11928072 95700 7440 -2316975 -2545900

SERVICES ABS CBN 17.06 17.16 16.64 17.42 16.64 17.1 752400 12683502 4.96 5 5.1 5.15 5 5 446800 2262863 GMA NETWORK MANILA BULLETIN 0.35 0.365 0.365 0.365 0.35 0.35 70000 25250 10.28 11.4 10.22 10.22 10.22 10.22 600 6132 MLA BRDCASTING 2186 2194 2280 2280 2130 2194 90795 198577600 GLOBE TELECOM 1127 1130 1175 1175 1130 1130 154595 177224965 PLDT APOLLO GLOBAL 0.036 0.039 0.038 0.039 0.037 0.039 4300000 164200 2.71 2.82 2.82 2.82 2.7 2.7 147000 410400 DFNN INC 1.65 1.66 1.72 1.78 1.65 1.66 46406000 79755840 DITO CME HLDG 0.076 0.084 0.073 0.084 0.073 0.084 520000 42780 ISLAND INFO JACKSTONES 1.42 1.94 1.78 1.78 1.78 1.78 5000 8900 1.62 1.64 1.65 1.72 1.62 1.62 3534000 5885100 NOW CORP 0.161 0.164 0.159 0.165 0.159 0.164 3820000 620280 TRANSPACIFIC BR 1.69 1.7 1.59 1.69 1.58 1.69 1468000 2416580 PHILWEB 2GO GROUP 5.7 5.9 6.14 6.2 5.5 5.9 149400 868780 CHELSEA 2.58 2.59 2.68 2.74 2.58 2.58 1196000 3169650 50.85 50.95 48.75 52 48.5 50.95 345600 17400850 CEBU AIR 74.8 75 76.1 77.3 73.05 75 2062980 155774950 INTL CONTAINER LBC EXPRESS 11.8 12.18 11.8 12.2 11.62 12.18 11700 140228 4.25 4.26 4.32 4.4 4.23 4.26 3530000 15204260 MACROASIA 1.44 1.47 1.43 1.6 1.4 1.44 1259000 1837700 METROALLIANCE A 1.36 1.59 1.6 1.6 1.6 1.6 1000 1600 METROALLIANCE B PAL HLDG 6.7 6.75 6.5 6.75 6.5 6.75 48000 322721 HARBOR STAR 0.75 0.76 0.78 0.78 0.76 0.76 192000 147240 1.15 1.26 1.2 1.2 1.15 1.2 15000 17900 ACESITE HOTEL 0.028 0.03 0.027 0.03 0.027 0.03 1600000 45700 BOULEVARD HLDG GRAND PLAZA 9.11 12.72 12.72 12.72 12.72 12.72 100 1272 0.43 0.435 0.395 0.45 0.395 0.43 1290000 547550 WATERFRONT 6.07 6.59 6.59 6.59 6.59 6.59 900 5931 CENTRO ESCOLAR 561.5 830 830 830 830 830 10 8300 FAR EASTERN U IPEOPLE 6.93 8.39 7 8.49 5.22 8.49 3000 20224 0.39 0.4 0.395 0.395 0.39 0.39 750000 295700 STI HLDG 2.1 2.24 2.24 2.24 2.1 2.24 63000 138040 BERJAYA 5.9 5.96 5.94 6.02 5.78 5.9 9201600 54275733 BLOOMBERRY PACIFIC ONLINE 1.53 1.75 1.78 1.79 1.75 1.75 40000 70600 1.34 1.35 1.33 1.4 1.31 1.35 444000 597300 LEISURE AND RES 2.05 2.15 2 2.15 2 2.06 40000 82540 MANILA JOCKEY 3.46 4 3.41 4 3.41 4 7000 25180 PH RESORTS GRP PREMIUM LEISURE 0.295 0.3 0.3 0.31 0.295 0.3 6920000 2078450 ALLHOME 4.64 4.65 4.75 4.79 4.64 4.65 1470000 6913270 1.5 1.51 1.59 1.59 1.45 1.51 3800000 5762810 METRO RETAIL 40.2 40.65 41.5 43.1 40.2 40.2 6518100 267801140 PUREGOLD ROBINSONS RTL 61.2 61.45 63 63 61 61.45 252730 15541580 133 135 132 132 132 132 1210 159720 PHIL SEVEN CORP 1.24 1.27 1.3 1.34 1.24 1.24 2069000 2648820 SSI GROUP WILCON DEPOT 12.62 12.68 13 13 12.56 12.68 1252100 15889220 APC GROUP 0.275 0.28 0.27 0.295 0.27 0.275 1360000 378050 4.9 4.99 4.98 5 4.9 4.99 13000 64320 EASYCALL 2.14 2.29 2.14 2.14 2.14 2.14 3000 6420 PAXYS PRMIERE HORIZON 0.2 0.201 0.201 0.205 0.2 0.2 1580000 317540 SBS PHIL CORP 5.19 5.75 5.75 5.75 5.74 5.75 13600 78185

-38527630 -69522520 3740250 914850 -60 -112100 65492 -2352125 25986578.5 -2236010 -13460 -279900 -6358015 5380 30000 742800 -836610 36925700 -1352707.5 -118800 -170770 5164602 22000 -

MINING & OIL ATOK 9.81 10.86 10.86 10.86 10.86 10.86 5500 59730 APEX MINING 0.75 0.76 0.75 0.78 0.74 0.76 1272000 961950 -32320 ABRA MINING 0.0009 0.001 0.0011 0.0011 0.001 0.001 319000000 319300 1.71 1.84 1.71 1.71 1.71 1.71 59000 100890 ATLAS MINING 0.202 0.236 0.21 0.239 0.21 0.239 20000 4490 COAL ASIA HLDG CENTURY PEAK 2.5 2.55 2.55 2.6 2.55 2.6 101000 257600 6.06 6.23 6.21 6.21 6.06 6.19 6500 40210 DIZON MINES 0.66 0.67 0.64 0.68 0.62 0.67 6952000 4530500 -620420 FERRONICKEL 0.187 0.2 0.186 0.2 0.186 0.188 4980000 932880 GEOGRACE LEPANTO A 0.072 0.075 0.072 0.076 0.07 0.071 2670000 190430 0.0063 0.0068 0.0065 0.0065 0.0064 0.0065 22000000 142900 MANILA MINING A 0.0069 0.0078 0.006 0.0069 0.006 0.0069 27000000 177900 MANILA MINING B 0.56 0.57 0.59 0.59 0.54 0.56 200000 111470 MARCVENTURES NIHAO 0.9 0.91 0.9 0.94 0.9 0.91 144000 130990 1.59 1.6 1.64 1.69 1.58 1.59 7148000 11584350 -6565180 NICKEL ASIA 0.46 0.47 0.46 0.47 0.46 0.47 110000 50900 ORNTL PENINSULA 1.99 2 2.07 2.1 2 2 396000 798380 -625500 PX MINING SEMIRARA MINING 11.98 12 12 12.4 11.92 12 4226000 50907666 1963512 UNITED PARAGON 0.0041 0.0045 0.0039 0.004 0.0039 0.004 6000000 23700 5.15 5.31 5.26 5.33 5.26 5.31 100400 528116 ACE ENEXOR 0.0082 0.0089 0.0083 0.0083 0.0082 0.0082 60000000 493100 ORNTL PETROL A PHILODRILL 0.0082 0.0086 0.0082 0.0082 0.0082 0.0082 1000000 8200 3.84 3.85 3.98 4 3.84 3.85 2822000 11010790 348160 PXP ENERGY

PREFFERED HOUSE PREF A 93.55 95 95 95 95 95 50 4750 ALCO PREF B 98.5 100 98 100 98 100 330 32380 480.2 490 490 490 490 490 210 102900 53900 AC PREF B2R 97.4 97.5 97 97.5 97 97.5 29870 2911771 DD PREF 99 99.5 99 99 97.5 97.5 12000 1177580 MWIDE PREF PNX PREF 3B 102 104 102 102 102 102 350 35700 994 996 995 995 993 993 8200 8147010 PNX PREF 4 992 1039 1039 1039 1039 1039 10 10390 PCOR PREF 2B 1002 1015 1015 1015 1015 1015 1465 1486975 PCOR PREF 3A SMC PREF 2C 76 76.4 76 76.1 75.85 76.1 2820 214343 73.75 74.25 74 74 74 74 3200 236800 SMC PREF 2D 73.8 74.4 74.4 74.4 74.4 74.4 490 36456 SMC PREF 2E 74.75 75 74.85 75 74.8 75 89660 6716168 3742.4999 SMC PREF 2F SMC PREF 2G 74 75.1 74.05 74.05 74 74 22700 1679900 74.1 74.95 74.8 75 74.8 74.8 50650 3794620 SMC PREF 2H 73.55 74.8 74.8 74.8 73.5 74.8 83550 6146040 SMC PREF 2I

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 15.4 15.94 15 17.7 15 15.4 59100 919620 319780 GMA HLDG PDR 4.81 4.9 4.9 4.9 4.9 4.9 57000 279300 -279300

WARRANTS LR WARRANT 0.79 0.81 0.81 0.81 0.8 0.81 55000 44500

SMALL & MEDIUM ENTERPRISES ITALPINAS 1.78 1.8 1.93 1.93 1.8 1.8 680000 1257160 KEPWEALTH 5.9 5.95 5.99 6.19 5.8 5.9 104000 615157 0.49 0.5 0.49 0.49 0.48 0.49 950000 463950 24500 XURPAS

EXHANGE TRADE FUNDS

FIRST METRO ETF 86.1 86.9 87.9 89 86.25 86.25 44010 3859208.5 18375

www.businessmirror.com.ph

MORE Power modernization program kicks off in Iloilo City

M

By Lenie Lectura

@llectura

ORE Electric and Power Corp.

(MORE Power) has commenced a program that aims to modernize Iloilo City’s power distribution system.

The Department of Energy (DOE) said it will monitor the progress of the P1.8-billion modernization program.

“We are hopeful but we have to see the improvements for its franchise area,” said Energy Undersecretar y Felix William B. Fuentebella.

Prior to MORE Power, Iloilo City’s electricity distribution service was under Panay Electric Co. (Peco).

Included in the modernization program are the installation of new electric meters, replacement of electric poles, transformers, conductors and improvement in substation facilities.

MORE Power President and Chief Operating Officer Roel Z. Castro said modernization program aims to cut systems losses, among others, “in order to provide Iloilo a more reliable, safer and cheaper electricity supply than they got from the previous utility.”

System loss refers to the amount of electricity lost in the inefficient distribution because of faulty lines and equipment or from pilferage.

At the end of 2019, Peco recorded a system loss of 9.03 percent. The figure exceeds the 6.5-percent cap set by the Energy Regulatory Commission (ERC).

DOE Director Mario Marasigan said the agency will conduct a validation work on MORE Power’s modernization program as soon as the enhanced community quarantine

(ECQ) is lifted.

Castro also assured Iloilo City Mayor Geronimo Treñas and the city’s residents that MORE Power will work on providing a reliable, safe and cheap supply of electricity.

“Ilonggos deserve the best from us. Nothing more, nothing less.”

MORE Power formally started managing the city’s power distribution utility with the issuance by the Iloilo City Regional Trial Court of a writ of possession in line with the expropriation case it filed against Peco.

After an inspection of its operation and the state of the city’s distribution system, the ERC issued MORE Power its Provisional Authority and revoked the Certificate of Public Convenience and Necessity issued to Peco.

Procter & Gamble to manufacture face masks

P

rocter & Gamble (P&G) Philippines has announced that its manufacturing plant in Cabuyao City will manufacture face masks to help reduce the spread of coronavirus disease 2019 (Covid-19).

The company said in a statement on Tuesday that the face masks will not be for sale, but will be for donation and for the use of their employees.

“P&G will invest in additional equipment for the plant to manufacture face masks for donation which will be routed through the Department of Health and used to help protect our employees as they work to produce critically important cleaning, health and hygiene products for the nation,” said P&G Philippines President and General Manager Raffy Fajardo.

“Hopefully these marks, along with the thousands of hygiene kits we are donating to several [Covid-19] hospitals and frontliners will play a big part in helping frontliners in the fight against Covid-19,” Fajardo added.

The company’s donation of face masks is on top of its donation of P100 million worth of P&G products to hospitals and frontliners,

employee job safety and security assistance and aid it has extended to its business partners.

Through this investment, P&G said it aims to address the growing need for face masks given the Inter-Agency Task Force’s (IATF) announcement requiring citizens to wear face masks upon leaving their homes.

The IATF requirement seeks to minimize the transmission of Covid-19, which has already infected more than 3,000 Filipinos, according to data from the DOH. The government placed the entire island of Luzon under enhanced community quarantine to stop the spread of the infectious disease.

“P&G will collaborate closely with the DOH and the Department of Trade and Industry and the Board of Investments to help hospitals and communities nationwide where there is an unprecedented need for protective supplies,” the company said.

P&G serves consumers around the world with the strongest portfolios of trusted and quality brands.

The P&G community includes operations. in approximately 70 countries worldwide.

FPIP offers free ride to Batangas frontliners

L

opez-led First Philippine Industrial Park (FPIP), the developer and operator of the industrial park in Batangas, has provided shuttle service to medical workers and other frontliners of two leading hospitals in Tanuan and Santo Tomas.

Si nce t he pro v i nce of Batangas implemented an enhanced community quarantine, public transportation has been virtually shut down, making it difficult for many medical workers battling coronavirus disease 2019 (Covid-19) to commute from their homes to their workplace.

The company noted that some of these workers, who are providing essential services to those suffering from Covid-19 and other ailments, live as far away as Batangas City and Laguna.

FPIP said it is providing two shuttles each to ferry frontliners in Sant Francis Cabrini in Santo Tomas and Daniel Medical Center in Tanuan.

“While much of the atten-

tion in the fight against Covid-19 is focused on Metro Manila, we realize that the battle extends here to our own backyard, and we wanted to support our community health workers who are working bravely and tirelessly to save lives,” said FPIP COO. FPIP has been a solid corporate citizen in its host cities of Tanauan and Santo Tomas, providing employment for thousands of residents. During the Taal volcanic eruption in January, FPIP provided support and relief to residents temporarily housed in evacuation centers.

FPIP is controlled by a First Philippine Holdings Corp.

(FPH) with Sumitomo Corp. of Japan as partner. FPH also donated P100 million to ABSCBN’s “Pantawid ng Pag-Ibig” program, which is providing food and other basic goods to local governments as they help their communities deal with the Covid-19 pandemic.

FPIP, FPH, and ABS-CBN are all part of the Lopez group of companies.

mutual funds

April 7, 2020

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 183.97 -29.87% -11.23% -8.68% -26.96% ATRAM Alpha Opportunity Fund, Inc. -a 0.8977 -44.63% -14.44% -9.91% -35.04% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.4582 -39.75% -16.2% -11.23% -33.17% Climbs Share Capital Equity Investment Fund Corp. -a 0.6166 -33.84% n.a. n.a. -31.27% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6215 -27.76% n.a. n.a. -26.82% First Metro Save and Learn Equity Fund,Inc. -a 3.9995 -26.79% -8.57% -7.77% -24.94% First Metro Save and Learn Philippine Index Fund, Inc. -a,6 0.6232 -28.51% -12.43% n.a.

-26.99% MBG Equity Investment Fund, Inc. -a 69.17 -45.61% n.a. n.a. -33.06% PAMI Equity Index Fund, Inc. -a 36.8113 -28.88% -9.84% n.a. -28.22% Philam Strategic Growth Fund, Inc. -a 392.57 -27.37% -9.43% -7.86% -26.32% Philequity Alpha One Fund, Inc. -a,d,8 0.8299 n.a. n.a. n.a. -19.44% Philequity Dividend Yield Fund, Inc. -a 0.9446 -27.51% -9.17% -7.03% -26.6% Philequity Fund, Inc. -a 27.6607 -28.19% -8.58% -6.93% -27.01% Philequity MSCI Philippine Index Fund, Inc. -a,1 0.7257 -29.63% n.a. n.a. -28.72% Philequity PSE Index Fund Inc. -a 3.7478 -28.47% -9.33% -6.78% -28.25% Philippine Stock Index Fund Corp. -a 626.24 -28.39% -9.3% -7% -28.19% Soldivo Strategic Growth Fund, Inc. -a 0.5664 -38.48% -13.53% -11.06% -33.47% Sun Life Prosperity Philippine Equity Fund, Inc. -a 2.9177 -31.92% -10.36% -8.14% -30.68% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.7198 -28.42% -9.43% n.a. -28.08% United Fund, Inc. -a 2.6344 -28.54% -7.67% -6% -27.89% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 83.9797 -28.22% -8.82% -6.17% -28.19% ATRAM AsiaPlus Equity Fund, Inc. -b $0.8238 -20.7% -4.2% -4.18% -19.89% Sun Life Prosperity World Voyager Fund, Inc. -a $1.0837 -15.59% -0.53% n.a.

-21.4% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.4354 -16.4% -6.36% -6.11% -8.15% ATRAM Philippine Balanced Fund, Inc. -a 1.9032 -17.62% -6.3% -4.4% -12.74% First Metro Save and Learn Balanced Fund Inc. -a 2.2768 -13.59% -3.37% -5.14% -13.48% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,5 0.1785 n.a. n.a. n.a.

-21.88% NCM Mutual Fund of the Phils., Inc. -a 1.7583 -8.05% -1.94% -2.37% -10.43% PAMI Horizon Fund, Inc. -a 3.2036 -12.57% -4.38% -4.28% -15.45% Philam Fund, Inc. -a 14.3752 -13.12% -4.41% -4.3% -15.24% -3.55% -14.67% Solidaritas Fund, Inc. -a 1.814 -15.15% -4.89% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.0867 -19.46% -5.66% -5.03% -20.11% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d,2 0.8643 -13.2% n.a. n.a. -14.91% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d,2 0.7693 -22.64% n.a. n.a. -22.79% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d,2 0.7511 -24.29% n.a. n.a. -24.38% Sun Life Prosperity Dynamic Fund, Inc. -a 0.7449 -23.67% -7.5% -7.15% -23.58% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03745 3.97% 1.88% 1.25% -2.04% PAMI Asia Balanced Fund, Inc. -a $0.866 -13.55% -2.78% -2.84% -16.56% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $3.2591 -11.89% -0.19% -0.19% -16.66% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,7 $0.996 -7.92% -0.73% n.a. -11.76% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 360.68 3.83% 2.86% 2.3% 0.8% ATRAM Corporate Bond Fund, Inc. -a 1.919 1.99% 0.86% -0.43% 0.89% Cocolife Fixed Income Fund, Inc. -a 3.1512 4.74% 5.11% 5.08% 1.12% Ekklesia Mutual Fund Inc. -a 2.2371 3.68% 2.26% 1.82% 0.54% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.3636 4.54% 2.3% 1.21% 0.19% 1.34% Philam Bond Fund, Inc. -a 4.3578 8.25% 2.41% -0.35% Philequity Peso Bond Fund, Inc. -a 3.7873 4.8% 2.89% 1.42% -0.02% Soldivo Bond Fund, Inc. -a 0.9658 5.02% 1.5% 0.2% 0.16% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.0688 6.4% 4.08% 2.36% -0.23% Sun Life Prosperity GS Fund, Inc. -a

1.7009 6.2% 3.64% 2.02% -0.01% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $466.71 2.89% 2.28% 2.36% -0.32% ALFM Euro Bond Fund, Inc. -a Є213.8 -1.01% 0.52% 0.55% -2.7% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.1616 -0.28% 1.34% 1.45% -3.78% -1.16% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0255 1.19% 0.8% 0.89% PAMI Global Bond Fund, Inc -a $1.0452 -1.54% -0.78% -0.93% -4.57% Philam Dollar Bond Fund, Inc. -a $2.3506 4.3% 2.24% 1.86% -2.21% Philequity Dollar Income Fund Inc. -a $0.0591957 1.99% 1.32% 1.29% -1.85% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1052 4.45% 1.76% 1.79% -2.21% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 126.85 3.74% 3% 2.27% 0.85% First Metro Save and Learn Money Market Fund, Inc. -a,3 1.0345 2.76% n.a. n.a.

0.8% Philam Managed Income Fund, Inc. -a 1.256 5.17% 3.06% 1.63% -0.06% 3.46% 2.98% 2.49% 0.8% Sun Life Prosperity Money Market Fund, Inc. -a 1.2747 Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.04 1.71% n.a. n.a.

0.27% Feeder Fund Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,4 $0.87 n.a. n.a. n.a. -12.12% 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 January 3, 2019. 2 - Launch date is January 28, 2019. 3 - Launch date is February 1, 2019. 4 - Launch date is November 15, 2019.

5 - Launch date is September 28, 2019. 6 - Renaming was approved by the SEC last October 12, 2018 (formerly, One Wealthy Nation Fund, Inc.).

7 - Adjusted due to stock dividend issuance last October 9, 2019. 8 - Launch date is December 09, 2019.

"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."

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Banking&Finance BusinessMirror

SSS extends deadline of contribution payment

By Bernadette D. Nicolas @BNicolasBM

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tate-run Social Security System (SSS) announced the extension of the deadline of payment of monthly contributions of its members and employers until June 1.

SSS President and Chief Executive Officer Aurora C. Ignacio said in a statement on Tuesday that they moved the deadline after the President placed the entire country under a state of calamity due to the coronavirus disease 2019 (Covid-19) pandemic.

“For self-employed, voluntary and nonworking spouse members, they can pay their SSS contributions for the applicable months of January, February and March 2020, or the first quarter of 2020, until June 1, 2020,” Ignacio said. “On the other hand, regular and household employers have until June 1, 2020 to pay for their employee’s contributions from February to April May 2020 without incurring any penalties.”

Employers with approved installment proposals under the “Contribution Penalty Condonation” program must deposit their post-dated checks due in February, March, April and May 2020 on June 1, 2020.

Ignacio added that contributions paid retroactively by self-employed, voluntary, and nonworking spouse members will not be used as eligibility for any benefit claim if the payment date falls within or after the semester of contingency.

“As we all know, the entire country was placed on community quarantine and enhanced community quarantine to limit the movement

of the general public. We recognize the difficulty encountered by our members and employers in paying SSS contributions since teller services in SSS branches are temporarily suspended and some banks are implementing limited operations,” Ignacio said. “Thus, we have decided to extend the payment deadlines for SSS contributions for the mutual protection of our members and personnel.”

Members and employers are also urged to use alternative online and mobile payment facilities in paying SSS contributions.

For individual paying members, they can pay their contributions using the Bayad Center mobile application, Moneygment through My.SSS and PayMaya through the SSS mobile app. On the other hand, members with an existing deposit account in Security Bank Corp. can use the bank’s Internet banking facility to pay their contributions.

Meanwhile, regular and household employers can pay SSS contributions through the following bank web facilities: BPI Bizlink, Security Bank DigiBanker, and UnionBank OneHUB. Employers can also pay their SSS obligations using the eGov BancNet Online.

The online payment facility includes the following banks: Asia United Bank, Bank of Commerce, China Bank, CTBC Bank, Metropolitan Bank and Trust Company, MUFG Bank, Philippine Bank of Communications, Rizal Commercial Banking Corp., Robinsons Bank and Standard Chartered. Employers must have an existing account with any of these banks to use their online services.

‘Bayanihan’ and Associations

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he Filipino word bayanihan is derived from the root word bayani (hero) plus the suffix “-han,” and roughly translates to a “heroic group work.” It signifies the spirit of helping each other, a culture of sharing, unity and cooperation.

It has been a long-held belief in the association community that associations and bayanihan are synonymous. Here are aspects of bayanihan found in the work and advocacies of associations: Volunteerism. Volunteering, generally considered an altruistic activity, is where an individual or group provides services for no financial or social gain to benefit another person or group. Associations in the country, be it a trade or industry association or professional society, are mainly volunteer-driven organizations— providing continuing education, codes of conducts and standards, and emergency relief such as in response to a disaster, among others. Needless to say, many nameless associations are now doing bayanihan during the coronavirus disease 2019 (Covid-19) pandemic.

Resource sharing. Associations share information, knowledge, talents, networks, and even funding. My organization, the Philippine Council of Associations and Association Executives (PCAAE), as the “association of associations,” provides a common platform where associations and association leaders and professionals share problems and solutions for the betterment of their members and constituencies.

Partnership and collaboration. Working together and leveraging each other’s strengths are hallmarks of bayanihan. Associations realize that they are not alone entities and do not have the mastery of everything, hence they partner and collaborate with other associations to fulfill and advance their missions.

A PCAAE-member and LandBank’s flagship CSR (corporate social responsibility) program for the environment, the Manila Bay Sunset Partnership Program Inc. is a collaboration of 28 organizations to help implement a sustainable approach to clean and protect Manila Bay. Adherence to democratic principles. Associations are democratic institutions that allow members to

Association World Octavio Peralta be treated equally, to be involved in making decisions, and to abide by the rule of law. As in a democratic system, members elect their own representatives to a governing board which looks after their welfare and interests. Consensus building and working for the common good are also part of this bayanihan component.

Collective voice. Associations are defined as “organizations or groups of individuals affiliated with one another who share a common purpose, interest, or mission and exist for the mutual enrichment and advancement of their membership.” In essence, they speak with one voice because their aspirations, hopes, dreams, challenges and joys are the same or at least, similar. The voice, therefore, of the association is also the voice of its members and vice-versa. Unity of purpose is an essential component of bayanihan.

It is no wonder that 22 associations and business organizations here had earlier written an open letter urging the government for the immediate passage of a special law to address Covid-19. This has led in part to the enactment of “The Bayanihan to Heal as One Act” or Republic Act 11469, a law granting the President additional authority to combat the coronavirus pandemic in the country.

Bayanihan and associations in this country are indeed alive and well!

The column contributor, Octavio “Bobby” Peralta, is concurrently the secretary-general of the Association of Development Financing Institutions in Asia and the Pacific and the Founder & CEO of the Philippine Council of Associations and Association Executives. PCAAE is holding the Associations Summit 8 on November 25 and 26, 2020 at the Philippine International Convention Center which is expected to draw over 200 association professionals here and abroad. The two-day event is supported by Adfiap, the Tourism Promotions Board, and the PICC. E-mail inquiries@adfiap.org for more details on AS8.

Wednesday-Sunday, April 8-12, 2020 B3

Digital banking seen preferred platform after Luzon lockdown

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By Tyrone Jasper C. Piad

@Tyronepiad

ollowing the anticipated conclusion of the monthlong Luzon lockdown, customer behavior toward banking may change as more could be expected opting to use digital channels after the community quarantine.

The country’s biggest island was placed under a lockdown midMarch as coronavirus disease 2019 (Covid-19) continued to infect more people, prompting local banks to operate in limited capacity and shortened hours.

To compensate, monetary authorities and local bank executives have been urging the customers to transact online via digital platforms at the comfort and safety of their homes.

“The potential that people would

be opting lesser face-to-face contact transactions is very high in the eventual lifting of the enhanced community quarantine,” UnionBank Chief Economist Ruben Carlo O. Asuncion told the BusinessMirror.

This could lead to increase in preference over digital banking, Asuncion added.

UnionBank, for its part, recently introduced a new online platform it dubbed “Dashboard,” which allows user to transfer funds, pay bills and

manage accounts and credit cards, among others.

RCBC Chief Economist Michael L. Ricafort said that digital banking has lessened the need for cash withdrawal, as this allows customer to accomplish transactions online.

“As more people are encouraged to stay and work at home as part of the stringent measures to prevent the coronavirus from spreading under the enhanced community quarantine of Luzon, they also need to purchase and stockpile food and other basic necessities using cash or through digital/electronic payment channels,” he explained.

Ricafort added that businesses also use digital platforms to pay off the salaries of their employees.

In a recent report, RCBC noted that the daily average of new signups in the first two weeks of the enhanced community quarantine rose by 117 percent from the two weeks prior.

Cash withdrawals

W hil e ba n k s of fe r on l i ne

platforms, some customers would still prefer to hold on to cash and transact traditionally due to uncertainties amid the lockdown.

“During times of crisis or panic, economic agents would tend to demand cash given the uncertainty and anxiety,” ING Bank Manila economist Nicholas Mapa said. “Should the situation deteriorate rapidly, consumers would like to have cash on hand to afford buying basic goods and necessities or even just to have access to their wealth in case banks are forced to close down altogether,” Mapa added.”

Mapa is confident that the banking system has ample liquidity amid the surge in withdrawals. Monetary authorities and the Bankers Association of the Philippines offered the same assurance earlier.

“After the community quarantine is lifted, we may see an increase in deposits or a slowdown in withdrawals as people simply use the cash they had previously withdrew over the quarantine period,” he added.

Banks closed for Holy Week; to open Easter Monday

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anks will be closed in from Maundy Thursday to Easter Sunday in observance of the Holy Week celebration.

In separate advisories, the banks said that operations will resume on Monday, April 13.

BDO Unibank Inc. said that customers can still pay bills and send money via BDO Online and Mobile Banking. “We encourage everyone to bank safely from home,” it added.

Philippine National Bank (PNB) advised its customers to plan their transactions ahead of the holidays to avoid the hassle. Its automated teller machines (ATMs) and PNB Digital

Banking will remain operational during the Holy Week.

Metropolitan Bank & Trust Co. (Metrobank) told its customers to transfer funds, pay bills and buy load through Metrobank Mobile App and other online platforms. The bank is keeping its lines open for inquiries.

“For assistance during this period, you may call our Customer Service hotline at [02] 8887-9188 from 8 a.m. to 5 p.m.,” Security Bank said.

The bank also informed customers to visit its social-media page for other updates.

Philippine Savings Bank said that its ATMs, PSBank Mobile and

PSBank Online facilities will be available during the holidays. Payroll crediting will still proceed as scheduled on April 9 and 10.

“Check deposits and settlements received for deposit after 12 p.m. cutoff time on April 8 via branch overthe-counter and via PSBank Mobile Check Deposit will be processed on April 13,” it added.

Bank of the Philippine Islands (BPI) said that its branches, along with BPI Family Savings Bank and BPI Direct BanKo, will be closed on April 9 to 12. “Please schedule your branch-related financial transactions ahead of time,” the bank

suggested to its customers.

Union Bank of the Philippines will also be suspending branch operations on the said date, encouraging customers to transact via digital platforms. The Aboitiz-led bank earlier urged public to settle tax payments online during the pandemic to lessen exposure to the virus.

This was made possible after launching an ePayment facility last year in partnership with the Bureau of Internal Revenue. In 2019, the bank collected over P338-billion worth of taxes, which was 16 percent of the total tax collections.

Tyrone Jasper C. Piad

You need only watch the dollar to track market harm

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S the coronavirus economic fallout accelerates around the globe, some experts say the US dollar’s ups and downs are the best way to divine whether market mayhem is easing.

Wall Street pros have a huge arsenal of funny-sounding indexes like the VIX and FRA-OIS they can use to gauge how risky and stressed financial markets are.

But something far more straightforward yet vital—the US currency—looks like an ideal benchmark in this moment. A mixture of panic and actual liquidity shortages have corporations, central banks and investors around the world amassing dollars, making it like an MRI scoping beneath the surface of markets to show exactly how bad things are.

The Bank for International Settlements, an authority on the global financial system given its role as the central bank for central banks, has concluded the greenback is a key indicator for banking risk. During the worst moments of last month’s global liquidity crunch, the dollar surged as all manner of institutions rushed to obtain funding. The Bloomberg Dollar Spot Index advanced

The greenback is a key indicator for banking risk, according to the Bank for International Settlements. Bloomberg News 10 straight days through March 23 as strains grew.

When the Federal Reserve introduced new liquidity measures to supply needed dollars, the currency lost momentum and slid. But the Bloomberg index rose again last week on Thursday and Friday after reports showed a record surge in Americans seeking jobless benefits and the US unemployment

rate spiked. On Monday, it slid amid optimism coronavirus deaths might be slowing in some hot spots.

“When markets become disorderly and there’s a mad scramble for dollar financing, then the dollar is a better measure than typical safe-haven currencies” in assessing systemic stress, David Loevinger, a former China specialist at the US Treasury and now an

analyst at fund manager TCW Group Inc. in Los Angeles, said in an email.

Even the yen and franc—the typical refuges—lagged the greenback last month “during the period of max market distress,” he added.

Granted, no one says the dollar is the only useful barometer. Traders are keyed into a worrisome surge in cross-currency basis swaps, a more-than-20 percent plunge in the S&P 500 and carnage in junk bonds to sort out whether the worst has passed. But as the world’s primary reserve currency, the dollar stands out.

Much of the globe’s business is conducted in the greenback, while commodities, including gold, are also priced in the US currency. When the liquidity crunch intensified last month, stressed international investors mopped up safer dollar-denominated assets that could be used as collateral, while they sold a variety of other assets.

That sent dollar funding costs surging to record levels, and leading to that 10-day rally in the Bloomberg dollar index, the longest winning streak since 2012. The index is still up almost 7 percent in 2020. Bloomberg News

RCBC lures investors to ₧7.05-B fixed rate bonds

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izal Commercial Banking Corp. (RCBC) listed its P7.05billion fixed rate bonds on the Philippine Dealing and Exchange Corp. (PDEx) on Tuesday.

The Yuchengco-led bank said that strong demand from investors allowed its offering to be oversubscribed by more than two times from the original P3-billion offering.

“This is a strong indication of investors’ continuing trust and confidence in the bank,” RCBC Senior Executive Vice President and Treasurer Horacio E. Cebrero III said in a

disclosure on Tuesday. “It is an assurance for the investors in the capital markets that the bank will continue to be supportive of business activities despite the current challenges in the environment.”

RCBC concluded the offer period on March 25, earlier than the initially planned March 27 after filling up its order book. Proceeds of the fixed rate bond offering are allocated to finance asset growth, maturing obligations and other general corporate matters.

Each bond has a tenor of two years and carries a coupon rate of 4.848 percent per annum.

The bonds were offered in denominations of P100,000 and increments of P10,000, thereafter.

RCBC appointed Hongkong and Shanghai Banking Corp. Ltd. (HSBC) as the sole lead arranger and bookrunner of the transaction while RCBC Capital Corp. served as financial advisor. HSBC and RCBC acted as selling agents for the bond issuance.

The latest bond offering came from RCBC’s P100-billion bond and commercial paper program, assigning HSBC and RCBC Capital as the joint arrangers of the transaction.

RCBC first participated in the

bond market through its P15-billion Association of Southeast Asian (Asean) green bond issuance in 2019.

This was followed by two more Asean sustainability bonds amounting to a total of P15.5 billion in the same year.

Amid the pandemic, the Yuchengco-owned bank said it was currently assessing the financial impact of the enhanced community quarantine on its operations.

RCBC shares climbed 28 centavos or 1.61 percent to close at P17.68 each amid the 1.42-percent spike for the main index on Tuesday.

Tyrone Jasper C. Piad

B4

Show BusinessMirror

Wednesday-Sunday, April 8-12, 2020

www.businessmirror.com.ph

z

Today’s Horoscope

National Artist Ryan Cayabyab

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Taylor Kitsch, 39; Patricia Arquette, 52; Robin Wright, 54; John Schneider, 60.

Happy Birthday: A steady pace forward will encourage success. Sticking to your plans and your budget will help alleviate setbacks and losses. Too much of anything will lead to criticism. Don’t take the chance of putting a dent in a relationship that is meaningful to you. It’s important to protect what you have, not to jeopardize what you’ve worked so hard to build. Your lucky numbers are 8, 15, 23, 25, 32, 34, 44.

a

ARIES (March 21-April 19): Don’t dawdle.

Concentrate on getting things done. Refuse to let emotions take over or cause you to overreact to a situation that you have no control over. Choose to work on self-improvement instead of trying to change someone. HHH

b

TAURUS (April 20-May 20): Refuse to take on responsibilities that don’t belong to you.

Concentrate on taking care of business directly linked to your advancement, not someone else’s. Put your talents to the test, and take a position of leadership. HHH

Artists act to save community

By Joel Saracho I’ll get by with a little help from my friends...

J

—The Beatles

hemer Cauigan is a 30-year-old father of three children living in Montalban. He hops from one film set to another either as utility man serving coffee and drinks to the crew, staff and actors, or a crowd control staff, the one assigned to make sure oglers get out of the way of the camera.

He earns between a thousand pesos to P1,500 per shooting day. If a shoot is canceled for the day, he doesn’t get paid.

Thousands of other workers in the entertainment industry share the same story. A thousand or P2,000 a day...no work, no pay. For an 18-hour work day at the minimum.

Since the lockdown was imposed on March 15, about 200 concerts have been canceled, so did theater productions, including those being produced by university-based companies. Likewise, tapings of teleseryes and live shows of the different networks have ceased production, different film festivals have canceled their scheduled events resulting in various film projects put on hold. As a result, thousands of industry freelance workers have been rendered jobless.

Considering that freelancers are not covered by state protection in terms of labor laws and no employer-employee relationship exists between them and whoever is producing the projects they are involved in, freelance workers can only rely on the support of friends, relatives and allies in times of distress.

Such as today’s pandemic that prompted a national lockdown.

It could be a good thing that the entertainment world is a small community. About a week after the lockdown was declared, the bigger names in the different subsections of the industry stood up to help take care of the small workers.

Lockdown Cinema Club (LCC) was initiated by independent film leaders to provide assistance to the low-income crew and staff of the film industry.

LCC partnered with the Lupon ng Pilipinong

Sinematograpo, Directors’ Guild of the Philippines, Ricky Lee Scriptwriting Workshop, UP Cineastes’ Studio, UP Cinema and UP Cinema Arts Society. To raise funds, LCC and its partners initiated projects like free download of films to watch at home, the Ricky Lee Scriptwriting Workshop (now three batches, for three online sessions each), and a weekly online forum with cinematographers.

As of April 5, Lockdown Cinema Club posted in its Facebook page that LCC has been able to raise P2,278,681.50 and was able to provide assistance reach-out to almost 1,000 families. It is short of P800,000 to reach the target 1,500 beneficiaries.

Jhemer is one of those who has received his P2,000 from the LCC. “Malaking tulong na po ito sa pamilya ko lalo na walang dumarating na relief dito sa amin,” said Jhemer, whose family has (as of this writing) yet to receive any relief package from his barangay.

Steering the LCC program are Mackie Galvez (representing cinematographers), Xeph Suarez and Camille Aragona (assistant directors), Pat Sumaguil (line producers), Ilsa Malsi (editors), Mau Fadul (production designers), Alemberg Ang and Carl Chavez (producers) and Pam Miras and Dod Dayao (writer-directors). Those who wish donate may send a message to LCC’s Facebook page.

Meanwhile, the Film Development Council of the Philippines (FDCP) launched its Disaster/Emergency Assistance and Relief Program (DEAR) “to help freelance audio visual content workers who have suddenly lost work or became out of work because of a major natural disaster or public health emergency such as the Covid-19 pandemic.” It prioritizes lowincome earners who have a talent fee of P3,000 or less per day. The DEAR program aims to reach 2,500 beneficiaries with a P20 million budget. As of April 3, more than 500 applications were approved and granted the one-time P8,000 tax-free benefit payment, the FDCP said.

On the live entertainment front, movers of theater and concerts organized Open House for those under contract to work between March 12 to April 12, with the cumulative amount of contracts not exceeding P15,000, not employed by any company and have completed work on at least two performing arts projects within the last six months.

c

GEMINI (May 21-June 20): You’ve got some great ideas. Proceed with passion until you are happy with what you accomplish. Discipline and brute force will help you get the results you want.

Don’t trust anyone to take care of your responsibilities.

HHHHH

d

CANCER (June 21-July 22): Show sensitivity when dealing with others. Someone you care about will be jealous or upset with what you are doing or saying if they feel threatened or left out. Get approval before you start something that may not be popular. HH

Open House raised funds by offering online performances, lectures and workshops in exchange of donations. Classes included barre sessions with prima ballerina Lisa Macuja-Elizalde; Audie Gemora on song interpretation; Rony Fortich on how to audition, while Philippine Educational Theater Association’s Jack Yabut is doing a series on Filipino martial arts.

Other features were a Theater Quiz Night with Reb Atadero and Tanya Manalang. After Party fun talks are offered by different companies, among them Ateneo Blue Repertory and Sandbox Collective. There was also open mic performances by the Ampalaya Collective.

A roundtable discussion featuring female theater directors was held with Jenny Jamora, Jose Estrella, Maribel Legarda, Menchu Lauchengco-Yulo and Missy Maramara. And what would a gathering of theater people be without a reading of scripts, both new and previously staged. In the line-up for reading are Ang Goldfish ni Prof. Dimaandal, while National Artist Ryan Cayabyab shared his experience in creating his original musicals Katy!, Noli Me Tangere, El Filibusterismo and Ang Larawan.

Open House is a collaboration of the Artists’ Welfare Project, Philstage, Theater Actors’ Guild, SPIT and Third World Improv. As of April 5, Open House has been able to disburse P180,000 reaching 80 low-income workers in its roster. To donate, visit bit.ly/ DonateOpenHouse.

These initiatives are for workers in the entertainment field. Other artist initiatives focused on supporting frontliners and the less-privileged are ongoing. Musika Publiko has partnered with the Citizens Disaster Response Center for a series of online concerts to support to 50 health workers at the East Avenue Medical Center, 1,433 at the National Kidney and Transplant Institute, and 20 at the Philippine Orthopedic Center. The biggest fundraiser has been Ryan Cayabyab, who started the Bayanihan Musikahan, where singers perform for an hour for free to raise donations. Bayanihan Musikahan has raised P37,435,540 as of April 6.

With the lockdown possibly getting extended, more will be in need. Hopefully, more will continue supporting the arts and its creators in saving the community. n

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LEO (July 23-Aug. 22): Take a moment to reconstruct your next move. If something doesn’t appear to be right, take a pass. Do what’s necessary, and protect what you’ve worked so hard to achieve. HHHH

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VIRGO (Aug. 23-Sept. 22): Remain intent on reaching your objective, regardless of what is going on around you. Refuse to let someone lead you astray. A change that is good for someone else may not be as good for you. HHH

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LIBRA (Sept. 23-Oct. 22): Make a change that will improve the way you look or where and how you live. Refuse to let anyone put you down or hold you back. Don’t get involved in someone’s scheme. Hold on to your cash. HHH

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SCORPIO (Oct. 23-Nov. 21): Don’t leave anything to chance. Finish what you start, live up to your word and move forward alone if that’s what it takes to get what you want. Refuse to let emotional situations undermine you. HHH

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SAGITTARIUS (Nov. 22-Dec. 21): Stick to what and who you know. Letting an outsider take part in your decisions will not bring the results you want. Firm up your plans with someone who has always been supportive and offered practical advice. Make a substantial commitment. HHH

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CAPRICORN (Dec. 22-Jan. 19): Handle situations and people carefully. If you are too aggressive or expect too much, you will end up in a situation that sets you back. If you want to change, do the work and be prepared to suffer any fallout that occurs. HH

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AQUARIUS (Jan. 20-Feb. 18): Ideas will flourish. A chance to try something new and exciting will come your way. Don’t feel you have to follow in someone’s footsteps if you have something you’d prefer to pursue. Follow your heart, and spend time with someone you love. HHHHH

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PISCES (Feb. 19-March 20): Take a unique path. A change you want to make will be met with opposition, but if you persevere, you will find a way to overcome any obstacle you face. Don’t let someone from your past interfere in your personal affairs. HHH Birthday Baby: You are conscientious, loving and sensitive.

You are progressive and caring.

‘African leaders’ by todd gross The Universal Crossword/Edited by David Steinberg

ACROSS 1 Make a meal of 5 Physics particle 9 Informal “What if...”

14 Wicked 15 Small string ensemble 16 HBO host Bill 17 Repetitve learning 18 Soft powder 19 Prefix for “Saxon” 20 Comedian in “Black-ish,” after being “nationalized”?

23 UK reference work 24 When Daylight Saving Time starts 25 Seat of power 27 ___ tai 29 “That’s more like it!”

32 Chose from a lineup, briefly 33 Airline until late 1991 35 Keto and Paleo 37 1980s tennis champion, after being “nationalized”?

43 Headquarters for Panasonic 44 Pessimistic sort 45 Mechanical pencil need

8 Illuminated like old streets 4 51 Rest one’s feet 52 Trouser measurement 54 Designer Mizrahi 56 Ones who right words?: Abbr.

57 Love Story costar, after being “nationalized”?

62 Rainer of The Great Ziegfeld 64 Book series with object-filled pictures 65 Prefix for “nautical” 66 Choir accompaniment 67 British brews 68 Sneak a look 69 Makes (one’s way) 70 Second take, say 71 Reaches a conclusion DOWN 1 Mister, in Munich 2 Openly confess 3 Nutrient found in carrots 4 Justice Kagan 5 Include in an e-mail 6 Like some lowbrow novels 7 Slick to the touch 8 Parody

9 Powerful table tennis shot 10 Low-tech fryer?

11 “Phew!”

12 Moon goddess 13 Ate away 21 Shows, such as Game of Thrones 22 Singer Merman 26 Like inves-ting all your money in one stock 27 City or highway stat 28 Ooh’s partner 30 Ferber and Saint Vincent Millay 31 Give a hand to 34 Battery terminal 36 Breath mint brand 38 Underground rock 39 Alias initials 40 In a sitcom, say 41 Roman seven 42 Part of a play 45 Try to go unnoticed 46 Stand the test of time 47 Give, as a task 49 Walked with difficulty 50 Parent’s words after “because”

53 Prayer enders 55 Open with amazement 58 One who should fail a polygraph test 59 Small, sandy spot 60 Ran ___ light 61 Chinese cookers 63 Feeling :-(

Solution to yesterday’s puzzle:

www.businessmirror.com.ph

Image BusinessMirror

Wednesday-Sunday, April 8-12, 2020

MAKATIMED UPDATES LATEST NUMBERS FOR COVID-19 CASES

LEADING health institution Makati Medical Center (MakatiMed) updated the relevant numbers for Covid-19 cases the hospital is handling as of April 6.

According to the latest summary report, there are now 53 Covid-19 positive patients who have been either discharged or declared clinically improved.

MakatiMed also has 51 Covid-19 positive patients who are currently admitted. Coronavirus deaths are at 16 as of the latest count.

The hospital, headed by medical director and interim co-CEO Saturnino P. Javier, MD, has seen a total of 1,616 persons under investigation and persons under monitoring (PUMs) as of April 2, with 1,270 seen at the MakatiMed ER. Figures for Covid-19 testing are at 191 positives and 529 negatives. Currently, MakatiMed has 92 rooms occupied by Covid-19 positive patients and PUIs. The updated report covers the period from March 8, 2020, when MakatiMed had its first reported case of a Covid-19 positive patient listed as Department of Healt Patient 7, to April 2.

More information is available 8888-8999 or mmc@ makatimed.net.ph.

Protecting your mental health SUI GENERIS CARLO ATIENZA

biblisko@gmail.com

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ITH the enhanced community quarantine, people are starting to get cabin fever and they are slowly discovering that working from home is not what they imagined it to be. People are becoming creative on ways to finish their workload and, at the same time, keep an eye on what is happening in the outside world. And with all the uncertainties and precautionary measures, people are becoming anxious not only of what to expect when they go back to work, but the entire state of the country.

While it is important to take care of our physical well-being, we should not forget to also take care of our minds. With all the equivocal news, belligerent politicians, and social tensions we see on television, it becomes painfully easy to capitulate to mental wanderings. We take care of our bodies by eating well and exercising regularly, but we often overlook what we can do for the mind simply because we do not know how to go about taking care of it. To safeguard your mental health and protect yourself from unnecessary worrying and doubts, here are some things you can do to take care of your mental health.

Physical activity has been known to increase the level of endorphin and dopamine in your body.

These are the hormones responsible for boosting your mood and producing feelings of pleasure. You do not actually have to go to the gym to do any physical activity, as there are numerous home workouts you can do with just a bench or a mat. If you do not want to do home workouts, you can do housework and declutter by focusing on one area of your house at a time. I did that with my cabinet, and I was able to organize my clothes better and make it easier for me to look for the things I need.

And while you are decluttering your house, you might also want to look for a spot you can call your own. Choose an area where it is quiet and where you can stay undisturbed and uninterrupted. This can be your personal private space. When you get really anxious, confused, or angry, you can go to this spot and just sort out what you are feeling. It is very important for you to sort out what you are feeling by acknowledging them and, if you can, writing them down. And when you do, you have to be very honest with yourself.

Take the time to identify what you are feeling

5 easy steps to combat fake news while on your mobile phone

Life as we know it will never be the same after this global pandemic. But you have the time and the capacity to prepare yourself for the changes which are coming. Safeguarding your mental health will help you become resilient and adapt quickly to those changes. And while everything is still up in the air, we can remain grounded with ourselves by taking care not just of our bodies but our minds as well. and list down what triggered you to feel that way and what you could have done differently. This can help you from reacting negatively the next time, or to totally avoid circumstances where you will just be despondent. If you worry too much, write it down and then review what you can and cannot do, so you can focus on what you can do. Put more attention on the things you can control and your sphere of influence because they are more important. There is no use in worrying about things you cannot change, but you can gain control of your own emotions and mental health by focusing on what you can do so you can avoid feelings of frustrations and disappointment.

Some companies have resorted to asking for workload deliverables and asking for productivity measures with the current work-from-home setup.

Sometimes, it becomes frustratingly tiring especially if you are asked more than what is required under the circumstances. You can negotiate with your managers on the scope of work and deliverables, and be realistic about your circumstances. Now is not the time to be granular about productivity considering that not everyone is properly equipped to work from home or have optimal environmental conditions to fulfill work requests. Be honest with your manager and list down what you can and cannot do so you can negotiate what is beneficial for the company and to you.

Write down your personal and career goals so when the going gets tough, look at it to remind yourself what you are aiming for. Sometimes, the work required from you is something you need to do to further your professional development, and your manager will assign projects which might seem out of scope or more than what you are capable of doing. Ask your manager if the extra work required will give you

a better chance of being promoted. This will help your manager get an idea of your professional aspirations and if they are intent on helping you develop professionally, they will have that discussion with you. Whatever the case, note your accomplishments so when that annual evaluation comes, you have a list of all these.

One of the most important things you can do is to take a break from technology. Social media is replete with fake news and Internet trolls who do nothing but mess up your mental health. Do not hesitate to unfollow people who are negative, or if you don’t want to do that, mute them. Your peace of mind is not worth the emotional investment you put into reading trash.

One of the reasons I have been on social media fast for about 16 months now is that I found myself engaged in a discussion with someone that quickly escalated into a heated argument. I realized it was not worth the effort nor the friendship.

Take the technology break a step further by not using your phone, tablet or laptop for a few hours or, if you feel brave enough, for a day. This will help you get over FOMO (fear of missing out). For news, schedule a time in the day to update yourself from a credible source so you do not get bogged down with unnecessary details or sensationalized reporting.

Validate facts and protect yourself from unwittingly spreading fake news by thinking before you click.

Life as we know it will never be the same after this global pandemic. But you have the time and the capacity to prepare yourself for the changes which are coming. Safeguarding your mental health will help you become resilient and adapt quickly to those changes. And while everything is still up in the air, we can remain grounded with ourselves by taking care not just of our bodies but our minds as well. ■

ALONG with the pandemic, fake news also spreads bringing to attention the important need to combat the scourge of misinformation.

Right now, people around the globe are stuck at home in a bid to fight the spread of the Covid-19 pandemic glued to their mobile phones, consuming the rapid spread of news and information that has multiplied even more in the already fast-paced online platforms.

With the need for credible real-time updates, the call for social-media responsibility has also risen exponentially with fake news keeping pace with the spread of the virus.

Here are five easy steps to be a responsible mobile phone user by keeping the “fake news virus” at bay: 1. DON’T SHARE POSTS AND NEWS STORIES IMMEDIATELY. Most headlines are crafted to give an enticing summary or lead-in to a story, but they aren’t always what they are, so it’s better to go through the entire story first. Oh, and make sure to check the date as well because some people tend to share news updates from even a few years back.

2. READ THROUGH FOR INCONSISTENCIES. Are you fond of reading stories actively or passively? By actively reading through articles, one could already deduce the credibility of the story. Fake news tends to include outrageous claims, biases, questionable facts and figures, and grammatical errors—one that a credible writer would seldom commit.

3. BE ON THE LOOKOUT FOR THE SOURCE. We sometimes open shared articles or read news posts without checking who shared or posted these. To be sure, check the source of the story or post—it is usually located at the top or bottom of posts and images. For external links, scan through the web site address located on top of the headline and verify it first before clicking. Shady web addresses can lead to virus-infested web sites.

4. VISIT THE SUPPOSED SOURCE. Does a source seem credible because of its name? Not entirely. News update templates can easily be retouched using readily available photo-editing apps. To be sure, visit the official news sites or social-media pages of the supposed source and verify if they did release the story. It would also be wise to check if other credible news sites released a similar story.

5. REFLECT ON ACTUALLY POSTING OR SHARING. By the time you’ve finished verifying, and given that it is indeed a credible story from a bona fide source, you’ve probably had enough time to reflect on whether it is actually worth sharing in the first place.

It would also be good to review your intentions in sharing the material.

To get authentic news updates and stories, you can download apps developed by the top news sites in the country and around the world. These are readily available through the seamless Vivo app store, available in all Vivo smartphones (www.facebook.com/ vivophil).

B5

B6 Wednesday-Sunday, April 8-12, 2020

Enderun Colleges launches free online learning web series amid COVID-19 outbreak

RedDoorz forges key government partnerships

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EDDOORZ partners with the Department of Tourism (DOT) and Manila City Hall to provide free accommodation for frontline healthcare workers in Manila.

Southeast Asia’s largest and fastestgrowing online hotel management and booking platform, is offering free temporary accommodation for frontline healthcare workers and emergency first responders treating COVID-19 cases.

“Red Heroes” initiative, which it is now rolling out across the region.

The initiative is designed to help and provide frontline healthcare workers with a place to stay and rest during the COVID-19 pandemic as hospitals and local authorities continue to treat and manage a growing number of cases.

“Our Red Heroes program across

Southeast Asia - in the Philippines, Indonesia, and Singapore - helps us alleviate the heavy pressures placed on national governments by providing free, clean, safe, and comfortable accommodation for those on the frontlines. Through our partnerships with key sectors, we are positive that we will be able to overcome this challenge if we stand together. We hope more companies with the means to support the initiative will participate during this challenging time,” said Amit Saberwal, CEO and Founder of RedDoorz.

The three hotels are located near UST Manila, Quiapo Church, and Quirino Station. These hotels were selected and offered by RedDoorz due to their close proximity to the following Manila-based hospitals: Gat Andres Tondo, Hospital ng Tondo, Justice Abad Santos, Hospital ng

Sampaloc, Hospital ng Manila, and Sta. Ana Hospital. These strategically situated properties make it easier for frontline healthcare workers within the area to find a place to cut their commute times and find a safe, clean and comfortable place to rest amid the Luzon lockdown.

“Our frontliners deserve nothing but the best help, as they selflessly give their time and effort to combat this pandemic. We’re thankful that RedDoorz reached out to us as we work with local government units to make the lives of frontliners easier amid the current COVID-19 pandemic. Together with the Manila City Hall, we are hopeful that this partnership will go a long way in helping our modern-day heroes as they help our nation flatten the curve,” said Charlie Dungo, OIC for the Department of Tourism Culture and Arts of Manila.

RedDoorz was also tapped by the Department of Tourism for an initiative aimed to help house Overseas Filipino Workers (OFWs) returning to the Philippines from other countries around the world. This initiative is an extension to RedDoorz’s “Red Heroes” program, whereby the company is extending its support to the latest government efforts, in assisting OFWs temporary shelter while the enhanced community quarantine is still in place. RedDoorz will provide rooms for around 80-100 OFWs in select properties across Metro Manila to help them repatriate amid the current Luzon-wide lockdown.

Learn more about Red Heroes initiative in via RedDoorz’s Facebook page.

Meralco to keep the lights on, assures public of 24/7 service during entire enhanced community quarantine period

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HE Manila Electric Company (MERALCO) has assured the public that it will keep the lights on and continue to serve its customers, operating 24/7 to ensure uninterrupted distribution of power during the 30-day community quarantine (15 March to 14 April 2020) and enable business continuity amid the lockdown.

Prior to the implementation of the enhanced community quarantine, the distribution utility readied its business continuity plan and stated that it has taken all precautions to preserve the safety and health of its employees while also sustaining its continuous operations in the franchise area.

Meralco again reiterated that it will defer its earlier scheduled maintenance activities during the community quarantine period except for those deemed as critically loaded areas, as approved by the Department of Energy (DOE). The distribution utility reassured the public that aside from these crucial maintenance activities, which affected only a small number of customers for a short period of time, there has been close to zero interruptions experienced in the franchise area as a whole.

Meralco SVP & Head of Networks Engr.

Ronnie L. Aperocho said "During these

challenging times, Meralco remains always ready and will continue working with the energy sector so as to ensure that electric power services remain uninterrupted.

Meralco is implementing its business continuity plan and emergency measures to distribute power around the clock, especially to crucial installations such as hospitals. At the same time, we are one with the power sector in our total compliance with the directives of the DOH in order to arrest the COVID 19 situation. Our customers can rest assured that safety is also of paramount concern to us and we will continue to cooperate with the government in ensuring that we will provide the best level of service expected from us."

Among Meralco’s operational highlights during the lockdown include installations in Cavite City Hall and Maynilad facilities in Cavite last March 21, as well as the March 23 installations in the Manila Disaster Risk Reduction and Management Office and the completion of the service application of Urban Homes on the same day, which will provide free lodging to health workers at St. Luke's Medical Center in BGC, and the energization last March 25 of Quezon City’s COVID-19 regional evacuation center. The distribution utility reassured its customers

that many more facilities ensuring continuous public service by the national government, LGUs, and utilities are being attended to by the company’s dispatch of crews with the utmost top priority.

Meralco President and CEO Ray C. Espinosa also assured the public that “all hands are on deck to ensure Meralco runs like clockwork. Our company continues to keep up the good fight and sustain our mission to keep the lights on for each and every single customer in our franchise area. Going beyond the power and light we deliver, this current crisis that our country faces calls for us to be a beacon of reliability and hope. We are keeping the lights on for our customers as we also provision for the safety and comfort of our employees.”

For the safety and health of its customers during the community quarantine, Meralco also continues to offer its Meralco Online service for all updates and transactions. Customers may download the Meralco Mobile App at http://onelink. to/meralcomobile or check out other online options at bit.ly/MeralcoPaymentPartners.

Regular updates will also be provided through the Meralco Website: www.meralco. com.ph, Meralco FB page: www.facebook. com/meralco, Meralco Twitter Account: @ meralco

Free highlands coffee for health heroes

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URING a crisis, there are those who step up and take on the burden of saving lives, usually at the cost of their own safety. These are the frontliners: medical practitioners, service professionals, and members of law enforcement who ensure that peace, order, safety, and health standards are upheld in these trying times.

As dedicated as our frontliners are to ensuring the safety of the general public, sometimes they miss out on the little things that can help provide mental respite in the face of challenges. In order to make sure that they are taken care of, Highlands Coffee has pledged to supply their product free of charge to frontliners.

After a successful run of providing free Vietnamese Iced Coffee to VRP Medical Center and the Medical City in Ortigas, Highlands Coffee will be providing the same

service to other key hospitals around the city. They have partnered with the delivery channel, Happy Move, in order to facilitate delivery of the products to the frontliners who have been working tirelessly for the good of all. Furthermore, thanks to efforts on social media, Highlands Coffee has started to provide coffee to fronliners based on recommendations from users and customers. This is an ongoing social media program, open to all via their social media pages www.facebook.com/ highlandscoffeeph and www.instagram. com/highlandscoffeeph. Highlands Coffee urges the public to use social media to nominate frontliners to receive a batch of Vietnamese Iced Coffee while on duty at the hospital.

“We’re committing to supplying coffee to our frontliners until the end of the lockdown,” said Francis San Gabriel,

Group Head of Highlands Coffee.

“When it comes to fighting the spread of COVID-19, we trust the experts.

When it comes to coffee, we are happy that our expertise can assist them in our own small way,” he concluded.

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NDERUN Extension, the continuing education arm of Enderun Colleges, launches the first installment of its webinar series entitled, “What Makes Online Learning Work in the Time of COVID-19?” which aims to equip educators and trainers to cope with learning challenges and effectively plan and execute online learning endeavors.

The speakers are composed of various industry practitioners with each topic assigned for discussion.

The speakers of the webinar points out the importance of understanding the current global concern and presenting infrastructure solutions essential for online learning. Staying connected, finding a safe space to work and setting expectations for availability are some of the ideal solutions to make online learning effective. There are also online tools such as Google Meet, Microsoft Teams, and Zoom that can be utilized to efficiently establish active learning among students.

Challenges and limitations such as poor internet connection, lack of technical skills, and students’ level of engagement are a few of the many issues that arise with online learning.

Providing feasible avenues, making materials downloadable for offline learning, and exploring simulation apps and data-free platforms are a few of the ideal urgent solutions to uphold learning between students and educators.

With efforts to transition from face-to-

face to online method, it is also notable to see the situation of the teachers from a humancentered perspective. According to Mr. Gerson Abesamis, Executive Director of Habi Education Labs, being able to take that extra step to ask questions such as the type of inter-access these educators have, their available devices, even their schedule in a day, would give a much better idea whether online learning is fit for them.

Ms. Arlynne Roa-Awayan, Director of Customer Success of Cypher Learning, gives emphasis on the personalized and adaptive assessments for online learning. She explains, “The learning management systems for teachers act like digital acting assistants.

It saves time, avoids repetitive tasks and also allows personalized experiences for learners.

It’s not just about grades but also how learners are achieving the target skills and competencies that we intended for them in the course.”

Speakers of the webinar are Mr. Colin Christie, Director of Digital Transformation of Enderun Colleges; Mr. Dann de Guzman, CEO and Founder of Cloudswyft; Mr. Gerson Abesamis, Executive Director of Habi Education Labs; Ms. Bel Castro, Associate Dean of Hospitality of Enderun Colleges; Ms. Arlynne Roa-Awayan, Director of Customer Success of Cypher Learning; and Dr. Jessie Barrot, Dean of the College of Education, Arts and Sciences of National University.

CIMB Bank named “Best Digital Bank Philippines 2020” in the Global Banking & Finance Awards

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IMB Bank Philippines was named “Best Digital Bank Philippines 2020” by the Global Banking & Finance Review in recognition for its innovation and market leadership in digital banking.

The award winners were selected by a distinguished panel of judges based on the following criteria: innovative use of digital banking in place of traditional banks, investments in digital banking technology, development of digital applications, infrastructure for its digital banking platform, and exceptional user experience.

The Global Banking & Finance Review considered CIMB Bank Philippines on its own merit without the bank having submitted itself as a potential award candidate.

“CIMB Bank Philippines is leading the way in banking innovation,” Editor of Global Banking & Finance Review Wanda Rich said. “It is easy to see why over 2 million Filipinos have chosen them as their bank.”

The multi-awarded bank has already signed more than 2 million clients since its launch in December 2018 and is set to double its customer base by year-end to hit its target of 4 million users. CIMB Bank Chief Executive Officer Vijay Manoharan attributes this growth to the continuous enhancements in their product offerings and establishment of new strategic alliances.

Manoharan shared that future plans for CIMB Bank include the formation of partnerships in the e-commerce, travel, transportation, and fast-moving consumer goods (FMCG) industries as they continue to provide added-value to their customers through widely-accessible safe and secure

banking services In building the CIMB Bank’s platform banking model, they are also exploring the expansion of their services to other segments outside of retail banking.

Clients are given the permanent upgrade of as high as 4.1% per annum interest rate with no conditions— that is 4.1% on their GSave Account and 4% on their UpSave account offering. This rate is 1600% higher than other major banks in the country.

In line with CIMB Bank’s goal of giving Filipinos the opportunity to seize life’s moments, the CIMB Personal Loans product enables consumers to have a seamless, fast, and secure loan application with no face-to-face interactions, zero processing fees, and zero settlement fees.

“We are humbled by this recognition and are grateful for being seen as the Best Digital Bank in the Philippines this year,” Manoharan said. He added, “We remain steadfast in providing the Philippine market the digital banking solutions it needs. We are here to change the banking landscape and to ensure that every Filipino has access to banking services. We look forward to continuing our efforts in servicing them.”

SSS pensioners to receive their April pension starting March 23

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HE state-run Social Security System (SSS) announced on Monday that its pensioners would receive their regular monthly pensions for April earlier than usual, and it will be credited in their bank accounts starting today, March 23, 2020.

“We allowed the early release of their monthly pension to provide them with some financial assistance. It will help our pensioners cope with the situation that the country is facing right now brought by the dreadful coronavirus disease 2019 (COVID-19),” SSS President and Chief Executive Officer Aurora C. Ignacio said.

Ignacio added that SSS has already requested its partner-banks to grant the release of the April 2020 pension on a much earlier date than the regular schedule of its release.

“We always take into consideration the safety and financial security of all SSS pensioners; thus, we made this decision to address their financial needs, especially those who are residing in areas that are

currently under enhanced community quarantine,” Ignacio explained.

SSS reported that Dumaguete City Development Bank started the release of the April pension on March 23. First Consolidated Bank, Cooperative Bank of Quezon Province, BDO, CTBC Bank, and Country Builders Bank will release it by April 1. Money Mall Rural Bank and Bank of Commerce will credit the pensions by April 3. “Aside from these partner-banks, we are still waiting for the response of other partner-banks for the early release of the April 2020 pension,” she said.

The SSS has already released a total of P11.9 billion to its disbursing partner-banks for the April 2020 pension. More than 2.7 million pensioners will benefit from the early pension release.

SSS also reminded the pensioners that on the succeeding months, their monthly pensions would resume to its regular schedule of release, which is based on the contingency date of the pensioner.

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

The World

EU eyes half-trillion euro rescue package to stem virus recession

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t’s crunch time for the European Union as it strives to stem a virus-led downturn that could eclipse the severity of the Great Recession more than a decade ago.

The EU’s finance ministers on Tuesday will seek to endorse a list of measures worth more than half a trillion euros to mitigate the impact of the coronavirus on the region’s economies. If enough headway is made, the bloc’s leaders could debate and sign-off on the measures later in the week.

With the euro area facing an economic slump of unprecedented scale, countries have instituted fiscal measures wor th 3 percent of EU gross domestic product as well as liquidity guarantees worth 18 percent of the bloc’s output. The European Central Bank has also launched massive bond purchases in what could end up becoming the biggest economic rescue package the continent has seen in peacetime.

German Chancellor Angela Merkel on Monday said that the pandemic was the EU’s biggest challenge since its founding and that “the answer can only be: more Europe, a stronger Europe and a well-functioning Europe.”

Bailout fund

O n e measure that’s gained broad suppor t i s to h ave t h e e u ro - a re a b a i l o u t f u n d, the European Stabilit y Mechanism, offer credit lines wor th up to around 2 percent of output to all the bloc’s members. These loans could be granted to countries with few strings attached that focus mainly on the money going to virus-related spending.

Still, some debate is expec ted on whether the funds should also be conditional on the countries’ fiscal health in the longer run, a longstanding demand of hawkish nor thern governments including the Netherlands and Austria.

The existence of such facilities should bring down borrowing costs for euro-area countries, and if the loans were needed, they would be available very quickly. Crucially, tapping into the ESM’s €410 billion ($440

billion) war chest could also pave the way for the ECB to buy vast amounts of sovereign b o n d s t h ro u g h i t s O u t r i g h t M o n e t a r y Transactions program.

Another proposal expected to get the green light is the creation of a pan-European G uarantee Fund to be managed by the European Investment Bank that could mobilize more than 200 billion euros in liquidity for the region’s small- and medium-sized enterprises.

Th e m i n i s te r s a re a l s o e x p e c te d to broadly support a program proposed by the European Commission that would give up to 100 billion euros in loans to countries facing rising joblessness because of the lockdown.

The plan would see the EU raise money on international markets backed by guarantees from member-states.

Joint debt

Amo n g the more contentious ideas that will likely be discussed is an emergency fund proposed by the French government.

According to the plan, the temporary reserve of 3 percent of GDP would be around for as long as 10 years and would be funded by the joint issuance of debt instruments to mutualize the cost of the crisis.

That would be more controversial as it closely resembles a proposal backed by several euro-area countries for so- called coronabonds—joint debt instruments that would ease pressure on highly indebted countries like Italy and, to a lesser extent, Spain and France, and would reduce the risk of a backlash from bond investors.

Officials say the French proposal could be considered as part of the EU’s plan for economic recovery once the health crisis is over. But it’s still likely to face pushback by countries like Germany and the Netherlands that have long opposed the idea of mutualizing risk. They argue that it wouldn’t solve the issue at hand and are wary that they could end up on the hook for spending in the poorer south. Bloomberg News

165 VIPs urge 20 economic powers for billions of dollars for Covid-19

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NITED NATIONS—Many former global lead e r s a n d o t h e r V I Ps u rg e d t h e world’s 20 major industrialized nations to approve $8 billion in emergency funding to speed the search for a vaccine, cure and treatment for Covid-19 and prevent a second wave of the coronavirus pandemic.

In an open letter to governments of the Group of 20 nations, the leaders, ministers, top executives and scientists also called for $35 billion to support countries with weaker health systems and especially vulnerable populations, and at least $150 billion for developing countries to fight the medical and economic crisis.

And they urged the international community to waive this year’s debt repayments from poorer countries, including $44 billion due from Africa.

The letter released on Monday night urged coordinated action—“within the next few days—to address our deepening global health and economic crises from Covid-19.”

The communiqué from the G-20 leaders’ summit on March 26 recognized the gravity and urgency of the crisis, the signatories said, but “we now require urgent specific measures that can be agreed on with speed and at scale.”

The letter noted the problems were interconnected. “The economic emergency will not be resolved until the health emergency is effectively addressed: the health emergency will not end simply by conquering the disease in one country alone, but by ensuring recovery from Covid-19 in all countries.”

The group called for a global pledging conference, coordinated by a G-20 task force, to commit resources to meet emergency needs.

“All health systems— even the most sophisticated and best funded—are buckling

under the pressures of the virus,” it said.

“Yet if we do nothing as the disease spreads in poorer African, Asian, and Latin American cities and in fragile communities which have little testing equipment, ventilators, and medical supplies; and where social distancing and even washing hands are difficult to achieve,” the group warned, “Covid-19 will persist there and re-emerge to hit the rest of the world with further rounds that will prolong the crisis.”

The 165 signatories included former UN Secretary-General Ban Ki-moon, 92 former presidents and prime ministers, the current prime ministers of Ethiopia and Bangladesh, Sierra Leone’s president, philanthropist George Soros, former Irish president Mary Robinson, who chairs The Elders, and Graca Machel, the group’s deputy chair.

Others include former British Prime Ministers Tony Blair, Gordon Brown and John Major, former US Treasury Secretary Lawrence Summers, International Economic Association President Kaushik Basu, who was a World Bank chief economist, and Georgetown University Associate Professor Deus Bazira, co-director of the Center for Global Health Practice and Impact.

Instead of countries and localities competing for a share of the existing capacity, with the risk of spiking prices, the world should be vastly increasing capacity by supporting the World Health Organization in coordinating the production and procurement of medical supplies and technology to meet fully the worldwide demand, it said.

As for the economy, the group said, “our aim should be to prevent a liquidity crisis turning into a solvency crisis, and a global recession becoming a global depression.” AP

China faces fresh virus threat from its border with Russia

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hina is facing a wave of coronavirus infections from Russia, with more than half of the countr y’s total impor ted cases in the past two days coming through its northeastern land border.

H e i l o n g j i a n g, C h i n a’s n o r t h e r n m o s t province that borders Russia, has reported 60 imported cases this month, according to the Health Commission of Heilongjiang Province.

All but one entered the Chinese border by car or coach from the nearby Russian city of Vladivostok, after they flew from Moscow, where more than half of Russia’s 6,300 cases have been reported.

The Russian cases account for one third of all the confirmed coronavirus infections China has detected in people traveling from other countries in April.

Imported infections have become a major threat to rekindling the virus in China after draconian measures managed to reduce local infections to a crawl. The jump in cases from Russia shows the challenge China faces in policing its land borders after aggressively

reducing international flights to stem the flow of virus-carrying travelers.

China shares an extensive land border with Russia along its northeastern provinces such as Heilongjiang. Bustling trade and commerce connections between the people living in either border region keep cross-border traffic high during normal times. Now, with Russia shutting down international flights, the border has become one of the few entryways for Chinese living in Russia to come home.

All the 59 people that crossed the border in Heilongjiang province in April are Chinese, a telling sign that the country’s diaspora are increasingly seeking refuge back in China as the virus epicenter has shifted to other places in Europe and the US. Russia had been playing down the severity of the coronavirus outbreak in the country. It has recorded 47 deaths so far, relatively low compared with other nations in Europe and the US. But Russia’s cases have spiked in recent days, with 954 new infections reported on Monday, bringing its total to 6,343. Bloomberg News

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Wednesday-Sunday, April 8-12, 2020

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British premier gets worse as UK virus crisis escalates

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EW YORK—The steep rise in coronavirus deaths appeared to be leveling off on Monday in hard-hit New York, echoing a trend underway in Italy and Spain, while the crisis escalated alarmingly in Britain, where Prime Minister Boris Johnson was moved to intensive care after his condition deteriorated.

Johnson, 55, was conscious and did not immediately need to be put on a ventilator, his office said. The prime minister is the world’s first known head of government to fall ill with the virus.

US President Donald Trump said he asked “leading companies” to contact officials in London about therapies that could help Johnson, calling them complex treatments recently developed by the unnamed firms.

“We have contacted all of Boris’ doctors, and we’ll see what’s going to take place, but they are ready to go,” Trump told reporters.

The president said mitigation efforts are showing signs of slowing the spread of the virus. The nation’s top infectious disease specialist, Dr. Anthony Fauci, was cautiously optimistic, saying that in New York, “what we have been doing has been working.”

Gov. Andrew Cuomo announced the first, faint signs the outbreak in New York might be at or near its peak, while warning that it’s no time to relax social distancing restrictions.

He ordered schools and nonessential businesses to remain closed until the end of the month and doubled fines for rule breakers to $1,000.

“The numbers look like it may be turning. ‘Yay, it’s over!’ No, it’s not. And other places have made that mistake,” Cuomo said as deaths in the US neared 11,000, with over 365,000 confirmed infections.

Stocks rallied on Wall Street and

around the world on the news out of the US and places like Italy and Spain. The Dow Jones Industrial Average gained more than 1,600 points, or nearly 8 percent.

O ut b re a k s i n ot he r p l a c e s moved in the opposite direction: France recorded its highest 24hour death toll since the epidemic began—833. Japan considered a state of emergency for Tokyo and other areas because of soaring infections in the country with the world’s third-largest economy and its oldest population.

Worldwide, more than 1.3 million people have been confirmed infected and over 74,000 have died, according to Johns Hopkins University. The true numbers are certainly much higher, because of limited testing, different ways nations count the dead and deliberate underreporting by some governments.

The latest data suggests social distancing appears to be working in some countries, and better than expected.

One of the main models on the outbreak, the University of Washington’s, is now projecting about 82,000 US deaths through early August, or 12 percent fewer than previously forecast, with the highest number of daily deaths occurring on April 16. The model relies on much more robust data from Italy and Spain and from hospitals.

The number of dead in New York

state rose past 4,700, and the death toll in New York City closed in on the 2,753 lives lost at the World Trade Center on 9/11.

The state has averaged just under 600 deaths daily for the past four days. Though horrific, the somewhat steady daily totals were seen as a positive sign. Cuomo also reported that the number of new people entering hospitals daily has dropped, as has the number of critically ill patients needing ventilators.

But the health care system is still strained. To help, Trump said a military hospital ship sent to New York City can now accept Covid-19 patients. Cuomo tweeted that the USNS Comfort would add 1,000 beds staffed by federal personnel, providing “much-needed relief.”

Elsewhere, China, where the outbreak began, reported no new deaths over 24 hours for the first time since it started releasing nationwide numbers in late January. Austria and the Czech Republic began discussing how to ease some restrictions, starting with reopening some small shops and garden centers next week.

But deaths in Britain climbed by more than 400 on Monday, for a total of nearly 5,400. Sunday was especially bleak, with more than 600 deaths—more than Italy recorded.

Italy, ravaged by the virus, had its smallest one-day increase of new Covid-19 cases in early three weeks. It also saw a drop for the third straight day in intensive care beds occupied by infected patients.

Premier Giuseppe Conte promised Italians that they will soon “reap the fruit of these sacrifices” in personal liberties, though he declined to say when the lockdown would be lifted.

Italy has the world ’s highest death toll—over 16,500—but the pressure on intensive care units in the north has eased so much that it’s no longer airlifting patients to other regions.

Nursing coordinator Maria Berardelli at the hard-hit Pope John X XIII hospital in Bergamo said

that while the numbers of new patients had eased a bit, hospital staffers were still pulling long, difficult shifts.

“There has been no reduction in the work,” Berardelli said. “There have been fewer admissions to the emergency room, but our intensive care units are still full, so the activity hasn’t been reduced.”

In Spain, deaths and new infections dropped again. The health ministry reported 637 new deaths, the lowest toll in 13 days, for a total of over 13,000 dead. New infections were also the lowest in two weeks.

It shows Spain is entering “a new phase of the battle,” said Transport, Mobility and Urban Affairs Minister José Luis Ábalos. But “this new phase does not mean we can let down our guard.”

It was a message repeated worldwide: Any gains could be reversed if people don’t keep following lockdown rules.

A report from a federal watchdog agency found that three out of four US hospitals surveyed are already treating patients with confirmed or suspected Covid-19. Some places, like Maryland, Virginia and Washington, D.C., are predicting the peak won’t come until May or well into summer.

Baton Rouge, Louisiana, reported the death of a girl born prematurely after her mother contracted the disease and was put on a ventilator.

Louisiana, where millions of tourists visit New Orleans yearly, had over 500 deaths.

However, Gov. John Bel Edwards says the state’s death and hospital admission rates could suggest infections are slowing.

“We are starting to see real signs that these mitigation measures that we put into place weeks ago are starting to bear real results,” he said.

For most people, the virus causes mild to moderate symptoms such as fever and cough. But for some, especially older adults and the infirm, it can cause pneumonia. Over 270,000 people have recovered worldwide. AP

US weighs ‘war bonds’; Japan readies $1-T economic package

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shipped over 1 million clear plastic face shields to hospitals and first responders all over the US. The company sent its millionth protective shield to New York City as part of a shipment of more than 30,000, spokeswoman Elizabeth Kraft said.

Hilton and American Express are donating a million US hotel rooms to medical workers who need to sleep or isolate from their families.

American Express and Hilton are paying for the rooms, which are being provided at or below cost by Hilton franchisees.

h e outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments on Monday related to the global economy, the work place and the spread of the virus.

Central banks and government

The White House is considering coronavirus “war bonds” to fund the federal response to the pandemic.

Larry Kudlow, the director of the national economic council, says the federal government, like most Americans, should make the most of low interest rates.

The US government has had little trouble finding people willing to lend it money so far, even without anything branded as “war bonds.” It’s been able to borrow at interest rates near record lows despite ballooning deficits, as investors around the world look for safe places to park cash.

Japanese Prime Minister Shinzo Abe is preparing to announce a ¥108 trillion ($1 trillion) economic package to help the country weather the coronavirus crisis. Abe said on Monday he plans to disclose details of the package as early as Tuesday.

Abe is expected to announce a state of emergency on Tuesday, at least for cities like Tokyo.

Airlines

American Airlines is suspending more flights at the city’s three major airports, JFK, LaGuardia and Newark, in New Jersey.

American said late Sunday that it will run 13 flights daily from the three airports beginning this week, down from an average of 271 flights per day.

Virus data

Japanese Prime Minister Shinzo Abe (left), speaks during a meeting at the prime minister official residence in Tokyo, Japan on Monday, April 6, 2020. Abe said that he will declare a state of emergency for Tokyo and six other prefectures as early as Tuesday to bolster measures to fight the coronavirus outbreak, but that there will be no hard lockdowns. Franck Robichon/Pool Photo via AP

United Airlines over the weekend reduced its 157 daily flights, to 17. Spirit Airlines has completely cut off service to the city and JetBlue, which is based in New York City, has slashed operations in the city by about 80 percent.

Delta Air Lines, American Airlines, United Airlines and JetBlue applied for a share of the $25 billion in federal grants designed to cover airline payrolls for the next six months. None disclosed the amount they are seeking.

Boeing said it will suspend operations on Wednesday at a South Carolina plant where it builds the two-aisle 787 passenger jet. Over the weekend, Boeing extended a two-week halt in work at assembly plants in the Seattle area.

Several Boeing workers have tested positive

for the new coronavirus.

Boeing rival Airbus is also suspending production at assembly plants in Germany and the US as the coronavirus continues to hit airlines and aircraft makers.

Stepping up

Apple has sourced more than 20 million facemasks through its supply chain, CEO Tim Cook said in a video posted on Twitter.

Apple hopes to quickly expand distribution beyond the US. It plans to ship over a million face shields to health-care workers by the end of the week, and continue to send that many every week going forward, Cook said.

Ford Motor Co. has manufactured and

Facebook is inviting users to share their coronavirus symptoms and location to help researchers track how the disease is spreading or abating.

A survey will appear on Facebook starting this week for some US users and is run by health researchers at Carnegie Mellon University. If it works, it could later expand worldwide.

Facebook CEO Mark Zuckerberg said in a post on Monday that “researchers and health officials think the data from these surveys can help determine where to allocate health resources like ventilators, where to tighten lockdown orders, and eventually which counties can safely start opening back up again.”

The company says it is also ramping up efforts to provide user location data to a network of epidemiology researchers who then share their analyses—but not individual data—with cities and states.

Those data-sharing agreements started in March and are supplying customized reports to states including California and Massachusetts, as well as parts of India, to show how social distancing practices are working in specific regions. AP

Sports BusinessMirror

B8 Wednesday-Sunday, April 8-12, 2020

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

Silver: I don’t expect any decisions before May N

IT has been, by far and for obvious reasons, the most personally trying season of Adam Silver’s tenure as commissioner. AP

By Doug Ferguson

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The Associated Press

HE Masters goes from that annual rite of spring to two weeks before Thanksgiving. The US Open now is scheduled in September for the first time since amateur Francis Ouimet took down Britain’s best at Brookline in 1913 to put golf on the map in America.

And the oldest championship of them all won’t even be played.

Golf organizations tried to salvage a season unlike any other Monday with a series of changes, starting with the British Open being canceled for the first time since 1945.

The Professional Golfers Associaton (PGA) Championship, which last year moved to May, would go back to August. That would be followed by the PGA Tour’s postseason, the US Open and Ryder Cup in consecutive weeks, and then the Masters from November 12 to 15.

“Any Masters is better than no Masters,” Augusta native Charles Howell III said.

Still to be determined was when—or even if—golf could resume because of the Covid-19 pandemic that has shut down sports worldwide.

Augusta National Chairman Fred Ridley said the Masters identified November as “intended dates.” CEO Seth Waugh said the PGA of America was “holding” August 6 to 9 as dates for the PGA Championship at Harding Park in San Francisco.

USGA Chief Mike Davis said moving from June to September was the best chance to mitigate health and safety concerns—Winged Foot is 5 miles from New Rochelle, New York, a virus hot spot—to have “the best opportunity” of staging the US Open.

The British Open effectively is pushing its schedule back one year, saying the 149th Open still is set for Royal St. George’s from July 15 to 18, leaving the 150th Open for St. Andrews the following year.

“I can assure everyone that we have explored every option for playing The Open this year, but it is not going to be possible,” R&A Chief Martin Slumbers said.

Golf’s major organizations, starting with the PGA Tour and its calendar filled with tournaments, have been trying to piece together a puzzle for the last three weeks. Each agreed to announce their plans together in a show of collaboration.

Still missing is the starting line, along with some details on what could be the most hectic pace golf has ever known.

“We hope the anticipation of staging the Masters Tournament in the fall brings a moment of joy to the Augusta community and all those who love the sport,” Ridley said. “We want to emphasize that our future plans are incumbent upon favorable counsel and direction from health officials.”

Augusta National closed early this year because of the coronavirus and does not open until October.

The bloom of dogwoods and azaleas will give way to fall foliage. Instead of being the second full week in April, it will compete against football.

“It feels like in these extraordinary times, we need to do extraordinary things,” said Kevin Kisner, who grew up 20 miles away in Aiken,

ATIONAL Basketball Association (NBA) Commissioner Adam Silver is bracing for several more weeks of uncertainty about the remainder of this halted season, revealing Monday night that he does not expect the league will be able to decide anything until at least May. Silver spoke on the NBA’s Twitter account as part of the league’s new NBATogether initiative, in a conversation hosted by Turner Sports’ Ernie Johnson. Silver touched on many topics, including how the league is looking at numerous scenarios for a return, but in every case the uncertainty of the coronavirus pandemic makes it impossible right now to move too far forward.

“Essentially, what I’ve told my folks over the last week is that we just should just accept that, at least for the month of April, we won’t be in a position to make any decisions,” Silver said. “And I don’t think that necessarily means on May 1 we will be.”

The NBA was the first of the major US pro leagues to shut down because of the Covid-19 threat, doing so after Utah Jazz center Rudy Gobert

became the first player in the league to test positive for the virus. The league’s regular season was to end April 15, and the playoffs were to begin April 18.

That isn’t going to happen, and that has been known for some time. The NBA wants this season to resume, but simply cannot say with any certainty if it will or will not happen.

“We miss it badly,” Silver said. “To all the families watching this, I know the NBA is a big part of their lives. We just want to assure everybody that while we’re putting the health and safety of everyone first, we’re looking at every possibility to get our players back on the floor and to play NBA basketball again.”

Among the decisions that have yet to be made, Silver said: whether the regular season will resume in some form or if the NBA would go immediately into the playoffs—assuming the league can salvage this season at all.

Also on the drawing board: if games would be played in NBA arenas or practice facilities, how televising games would work and if the

league would take everybody to one site to finish the season. Cities have expressed interest in that option and have reached out to the NBA to say as much, Silver said.

“We’re in listening mode right now,” he said.

The news likely wasn’t unexpected, but it still hit All-Star center Bam Adebayo of the Miami Heat hard when told that no decision on the fate of the season is expected anytime soon.

“It’s a whole spectrum of the unknown,” Adebayo told The Associated Press after Silver spoke.

“But at the end of the day, it’s about safety, it’s about our families and it’s bigger than us. It’s a global thing and we’ve all got to take it even more seriously.”

Silver also discussed Saturday’s 45-minute conference call that he and other major US sports leaders had with President Donald J. Trump.

The president said he had been watching some replays of past major sports events, then asked the commissioners and others for their thoughts.

“It wasn’t just a pep talk, but I think it was a reminder of what the meaning is of sports to

Americans, to our culture in particular,” Silver said. “What came back from all the leagues collectively was once we get the all-clear, however that’s determined, of course with public health officials and by our government...we’re going to be ready to go. But first and foremost is the health and safety of everyone involved.”

It has been, by far and for obvious reasons, the most personally trying season of Silver’s tenure as commissioner. The NBA got into a major and costly rift with China in October after Houston General Manager Daryl Morey tweeted support for anti-government protesters in Hong Kong around the same time as the league was making its annual visit to that basketballwild nation for two preseason games that became incredibly awkward. Commissioner Emeritus David Stern, Silver’s predecessor and mentor, died January 1. Kobe Bryant, who was announced as a Hall of Fame inductee on Saturday, died January 26 in a helicopter crash with his daughter Gianna and seven others. AP

MAJOR SHAKE UP FOR GOLF MAJORS

IRELAND’S Shane Lowry holds and kisses the Claret Jug trophy on the 18th green as he poses for the crowd and media after winning the British Open at Royal Portrush in Northern Ireland last July. AP

South Carolina. “We can sacrifice a little bit of our life being perfect.”

The PGA Tour has tentatively planned to complete its FedEx Cup season close to schedule, with the Tour Championship finishing on Labor Day. It is contemplating putting tournaments in dates that previously belonged to the US Open, British Open and Olympics.

“It’s a complex situation, and we want to balance the commitments to our various partners with playing opportunities for our members—

WHILE Novak Djokovic and his fellow superstars have earned millions upon millions over the years—more from sponsorships than prize money—lowerranked players depend on playing regularly in tournaments for their income. AP

while providing compelling competition to our fans,” PGA Tour Commissioner Jay Monahan said.

“But all of that must be done while navigating the unprecedented global crisis that is impacting every single one of us.”

It was not immediately clear how the teams from Europe and the United States would be determined for the Ryder Cup, although European captain Padraig Harrington has said he would not be opposed to picking all 12 players.

For the 24 players, that means going from

what long has been regarded as the toughest test in golf to what has become the most tiresome three days in golf.

“It’s definitely better than leaving the Tour Championship and going to France, or leaving the Bahamas to go to Australia,” said Patrick Cantlay, referring to the Americans’ most recent Ryder and Presidents cup itineraries.

Like everything else, so much remains up in the air until golf get the signal to resume.

Gian Paolo Montali, the general director for

the 2022 Ryder Cup, said on Italian radio Monday that officials faced a May deadline to postpone the Ryder Cup to odd-numbered years (as it was before the matches were postponed by the September 11 attacks). He described the chances as 50-50. Montali also said players already have vetoed a Ryder Cup without its raucous fans.

Other details must be sorted out, such as US Open qualifying. The next tournament on the PGA Tour schedule is Colonial from May 21 to 24, though that appears unlikely.

Tennis tours ponder post-virus reschedule

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HE men’s and women’s professional tennis tours are examining contingency plans for post-coronavirus rescheduling, including the possibility of pushing back the end of the 2020 season.

The heads of the Women’s Tennis Association (WTA) and Association of Tennis Professionals (ATP) said Monday their groups are working together on ways to assemble a new calendar.

Under consideration: moving postponed tournaments into weeks that already have events and making the season longer than it already is by playing past the tours’ originally slated November finishes.

As of now, all of pro tennis is suspended at least until July 13 because of the Covid-19 outbreak. That is the day after Wimbledon

was supposed to end; the All England Club announced last week it was canceling the oldest Grand Slam tournament for the first time since it was shelved from 1940-45 during World War II. WTA Chairman Steve Simon said in a statement e-mailed to the AP that the women’s tour “is diligently working with our tournaments to maximize earning possibilities when the professional tennis circuit is able to resume and is considering an extension to the current 44-week season to enable more tournaments to take place.”

The tours have been periodically telling tournaments, players and the public how long the suspension will last. Another update is expected by the middle of May. ATP Chairman Andrea Gaudenzi said the

men’s tour ideally would like to finish the season on time in November if competition can resume in July.

But he also said: “Nothing is ruled out at this stage.”

“We are currently assessing a number of revised calendars based on different return dates for the Tour, with the aim of rescheduling as many tournaments as possible,” Gaudenzi said in a statement e-mailed to the AP. “We are liaising closely with the other governing bodies with the common goal of trying to salvage as much of the season as possible,” he said, “once it is safe for the Tour to resume.”

More than 1.3 million people worldwide have been confirmed infected with the novel

Al Mendoza alsol47@yahoo.com

THAT’S ALL

Remembering Sydney Olympics THE virus veers us away from the usual. That’s because Covid-19 paralyzed practically the universe.

No games so no gyms.

No plays and shin-busting so no pitches.

No three-point shootouts so no arenas.

No cheering as coliseums are closed.

No queues as ticket booths are shuttered.

Empty parking lots at the Cubao Big Dome.

Smokeless hot dog/burger stands. Popping popcorns gone silent.

In short, no events at all so nothing to write about. Nada.

What to do in this eerie dead-air situation when topics for sportswriters have become as scarce as rains in summer, as invisible as a bank deposit of a businessman gone bankrupt?

Improvise. Rummage through my souvenirs?

Or diary time? Either way, go.

It was almost 20 years ago today when the XXVII (27th) Olympics played in Sydney, New South Wales, Australia.

Before the Games could begin on September 15, 2000 (ending October 1), I flew to Sydney one week ahead of the opening ceremonies.

You know, I had to fix my habitat at the Olympic Village.

For one, I needed to install my war room within the confines of the Olympic Village, where I was one of more than a thousand sportswriters around the world were billeted. You know, my laptop connections, modems and e-mail traffic, anything about transmitting my stories to the Inquirer real fast—direct from my foxhole for nearly three weeks.

For another, I had to acquaint myself with the Aussie transport. From the Olympic Village where I stayed to the Olympic Stadium where the massive Press Center was located was a train ride lasting about 30 minutes. Since the train system to me was as alien as online banking, I made several roundtrip stints to really master travel time and the route. You miss one coverage due to tardiness, your day is fucked up.

Thank God, I never missed one beat. Even as I had to produce a minimum of five stories a day (one was my interview of Venus Williams, the female tennis gold medalist that year).

That was a ton of stories a day, considering that we didn’t have athletes good enough to be competing for medals. Truth to tell, we didn’t win even a single bronze that year, a far cry from our silver finish in the 1996 Atlanta Olympiad from boxer Onyok Velasco.

Well, we did almost crash into the medal tally in Sydney but for a bum officiating that robbed our boxer surnamed Ladon of a quarterfinal stint.

After the debacle, I distinctly remember what the late Mel Lopez, the former Manila mayor and our feisty national boxing president then, whispered to me—almost sobbing: “Sorry, Al, but we didn’t have enough money for the referees and judges.”

Sad, but if it was happening then, it does still today. The reason why our Olympic moguls have barred boxing federation officials from overseeing the 2020 Tokyo Olympic slugfest. Pathetic.

THAT’S IT The historic Rizal Memorial Coliseum, built in 1954 for the Manila Asian Games, is now one of Metro Manila’s improvised quarantine stations for Covid-19 patients. It was refurbished for the just-ended SEA Games where world champion Carlos Yulo easily won the gymnastics’ floor exercise gold. coronavirus, and more than 70,000 have died, according to Johns Hopkins University. The true numbers are certainly much higher, because of limited testing, different ways nations count the dead and deliberate underreporting by some governments.

In recent weeks, nearly all sports events around the globe have been canceled, rescheduled or indefinitely postponed.

Tennis finds itself in a somewhat unique position because of the international travel required of athletes from week to week, the players’ status as independent contractors and the lack of one overarching governing body.

While superstars such as Serena Williams, Roger Federer, Rafael Nadal and Novak Djokovic have earned millions upon millions over the years—more from sponsorships than prize money—lower-ranked players depend on playing regularly in tournaments for their income. AP