BusinessMirror April 27, 2021

LOCKDOWNS TO DENT DBCC GROWTH TARGET

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n Tuesday, April 27, 2021 Vol. 16 No. 195

P25.00 nationwide | 2 sections 18 pages |

FINISHING touches by the Department of Public Works and Highways (DPWH) are ongoing at the Bonifacio Global City to Ortigas Center Road Link Project, which is set to be partially open to motorists by June 2021. Public Works Secretary Mark A. Villar said they aim to finish remaining civil work activities at the four-lane, two-way Sta. Monica-Lawton Bridge, a major component of the P1.793-billion BGC-Ortigas Road Link Project, one of several projects planned to ease congestion at Edsa by providing more alternate routes for motorists. Villar joined Undersecretary Emil K. Sadain and project managers in an inspection of the project on April 23, 2021. DPWH PHOTO

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By Cai U. Ordinario

@caiordinario

HE government’s growth targets this year may not be achieved due to the reimposition of the Enhanced Community Quarantine (ECQ) and Modified ECQ (MECQ) to control the spike in Covid-19, according to the National Economic and Development Authority (Neda).

In a presentation at the Sulong Pilipinas event on Monday, Socioeconomic Planning Secretary Karl Kendrick T. Chua said GDP growth this year may be lower than the 6.5to 7.5-percent target range set by

the Development Budget Coordination Committee (DBCC).

Chua said, however, that the economy remains on track to return to its prepandemic growth by the middle of 2022. The DBCC target

BSP chief: Loose monetary policy still necessary for now

By Bianca Cuaresma

B

@BcuaresmaBM

ANGKO Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said they are keen on giving more time for the recent monetary policy actions to work their way into the economy before pulling them out as the economy recovers.

Diokno made the statement on Monday at the government’s Sulong Pilipinas Economic Development and Infrastructure Clusters Forum.

The governor said that while the economy is “at the tail end of the crisis,” the BSP recognizes that economic recovery is “still in its early stage” and, as such, expansionary monetary support remains warranted.

“We recognize that the economy is still in its nascent recovery phase,” Diokno said.

“The accommodative monetary policy settings provide significant stimulus to demand and should be allowed to continue to work their way through the economy to bolster recovery in private consumption and investment,” the governor added.

The BSP has kept its record-low overnight reverse repurchase rate at 2 percent for three consecutive meetings since December 2020.

This is despite the acceleration in the country’s inflation, which the BSP projects would overshoot the ceiling of government targets for this year.

is for GDP to post a growth of 8 to 10 percent next year.

“Our recovery is slated for this year and we will achieve pre-pandemic [growth] level in 2022, middle of 2022. All of these are needed to prevent long-term scarring and productivity losses,” Chua said.

“Although the recent imposition of ECQ and MECQ may lower our growth estimate....we are still early in the year and there is ample opportunity to catch up,” he added.

Chua said any adjustments to the targets by the DBCC may be made after the release of the first quarter performance of the economy next month.

Also speaking in the Pre-Sona economic forum, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno reiterated that the country’s gross domestic product (GDP) growth will likely trend lower

than the current estimates due to the renewed lockdown measures.

Diokno reiterated his personal assessment—a growth range of 6 to 7 percent—but said that they will still deliberate on how the economy will fare in their next forecast setting meeting with other economic managers.

The governor earlier said the reimposition of stricter measures in the country’s capital—along with its neighboring provinces—may affect the pace of the country’s growth trajectory this year.

Catch-up

ME A N W HILE, Chua said the economy still had eight months to play catch up with its targets by making up for the damage inflicted on the economy by the ECQ and MECQ.

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GOVT NOT GIVING UP ON INFRA DRIVE, WILL FINISH ALL PROJECTS

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ESPITE the need to address hunger and poverty caused by the lockdowns, the national government is not ready to surrender the Build, Build, Build program and insists that the ambitious infrastructure initiative will contribute to the Philippines’s recovery from the recession.

Despite temporary snags, the National Economic and Development Authority (Neda) and the infrastructure agencies led by Public Works Secretary Mark A. Villar said the infrastructure projects will continue as planned. Neda said the government plans to spend P1.17 trillion for infrastructure this year.

Transportation Secretary Arthur Tugade noted that the government is bent on completing a total of 163 projects worth P88.75 billion by the end of this year.

“We continue to catch up in 2021 with the highest ever infra spending of P1.17 trillion and we will continue to do so until we complete the process in the BBB program,” Socioeconomic Planning Secretary Karl Kendrick T. Chua said on Monday. He reiterated that the recent dip in the country’s infrastructure spending was only temporary because of the mobility restrictions.

The country’s infrastructure spending declined to

P825 billion in 2020 due to the lockdowns. This is the lowest since 2017 when the gover nment spent a round P691 billion.

Chua said the most important aspect about infrastructure is the sector’s ability to create jobs that will address hunger and poverty.This year, the infrastructure sector is expected to generate 1.7 million jobs and for 2022, government projects additional employment for 1.5 million Filipinos.

These represent the highest number of jobs created by the infrastructure sector in at least two decades, according to Chua.

Since 2000, Neda data showed, infrastructure spending has been creating less than a million jobs annually.

“The full-time equivalent of jobs is expected to reach 1.7 million in 2021 because of the infrastructure program and this is much bigger than less than 1 million and as low as 100,000 10 or 20 years back,” Chua said.

Tugade said among those for completion this year are aviation projects worth P15.3 bi l l ion; mar itime projects worth P7.7 billion; railway projects, P34.4 billion; and road projects, over P30 billion.

These projects may either be fully or partially completed this year, he said.

See “Govt,” A2

Continued on A2

PESO EXCHANGE RATES n US 48.3830

n JAPAN 0.4483 n UK 67.1556 n HK 6.2350 n CHINA 7.4478 n SINGAPORE 36.4632 n AUSTRALIA 37.4775 n EU 58.5241 n SAUDI ARABIA 12.9014

Source: BSP (April 26, 2021)

News

BusinessMirror

A2 Tuesday, April 27, 2021

BFAR probes effect of illegal fishing by Chinese vessels

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By Samuel P. Medenilla

@sam_medenilla

HE Bureau of Fisheries and Aquatic Resources (BFAR) is now probing the impact of the alleged illegal fishing of Chinese ships, which are now moored inside the country’s exclusive economic zone (EEZ) in the West Philippine Sea (WPS).

In an online press briefing Monday, BFAR National Director, Undersecretary Eduardo Gongona, said they started looking into the concern of the National Task Force for the West Philippine Sea (NTFWPS) over China’s illegal fishing since it could reduce the country’s

food supply.

“The West Philippine Sea is an important fishing ground for Filipino fishermen. It should be enriched and protected against any act, which will destroy this natural resource,” Gongona said.

“Anything which will harm will

affect our seas...and those of others. Our seas and bodies of waters are linked,” he added.

Significant food source

LAST year, he noted 324,312 metric tons or 7.26 percent of fish caught in the country came from waters in the WPS. Due to the importance of the country’s EEZ in the WPS to the loca l f ishing industr y, BFA R supported the position of the Department of Foreign Affairs (DFA) and the NTF-WPS to protest the incursion of Chinese ships in said area.

“We condemn all the possible illegal fishing there. And if there are fishermen who will be affected because of the said incident [incursion], we assure the government will continue to address the said incident,” Gongona said.

Currently, Gongona said they

have yet to receive any report from the NTCF-WPS on the fishermen who were harassed by the Chinese vessels.

Traditional fishing grounds

PRESIDENTIAL spokesman Harry Roque, however, clarified there are parts of the WPS, such as Scarborough Shoal, where fishermen, regardless of their nationality, could do “traditional” fishing.

“This is not based in a joint fishing agreement, but because of the decision of the Arbitral Tribunal to establish a traditional fishing in Scarborough Shoal, where Chinese, Vietnamese,and Filipinos could do traditional fishing,” Roque said.

“This means it should not be commercial,” he added.

The Arbitral ruling, issued in 2016, dismissed China’s so-called historic claims in the WPS through its nine-dash line.

MAJORITY OF SENATORS SIGN CENSURE-PARLADE RESOLUTION

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AJORITY of the senators have signed a Senate Resolution seeking to censure Lt.Gen. Antonio Parlade, the controversial spokesman of the interagency task force on communist insurgency who called senators “stupid” for saying they will defund the task force.

Crossing partylines, at least 13 senators so far have affixed their signatures in a resolution authored by Minority Leader Franklin Drilon denouncing Parlade for insulting remarks against the lawmakers.

The draft resolution, still being circulated for signatures of

other senators, seeks sanctions against Parlade for “disrespectful, derogatory and demeaning statements without basis” that attacked the senators who criticized his penchant for “red-tagging” in linking various groups to leftist elements. The latest object of such red-tagging were organizers of the community pantries, a volunteer-led initiative that encourages people to donate what they can to a community pantry, and take what they need. The initiative began on Maginhawa Street in Quezon City has spread like wildfire.

While the organizers said they simply wanted to help those badly

hit by the pandemic-induced lockdowns, Parlade seized on critical comments that said the pantries show up government’s poor pandemic response.

Signatories to the resolution comprising a majority affirmed the need for higher authorities to castigate Lt. Gen.Parlade for “insulting remarks” against senators who commented on the military officer’s “red-tagging,” even calling senators “stupid.”

Parlade was reported to have made the insulting remark in an interview after lawmakers mulled over options to defund the National Task Force For Ending Local Communist Armed Con-

flict (NTF-Elcac) where he served as spokesman, saying lawmakers would be “stupid” to defund an agency after passing the appropriations law for 2021.

Apart from Drilon, other signatories as of 4 p.m. Monday are Senate President Vicente Sotto III, Senate President Pro Tempore Ralph Recto and Senators Risa Hontiveros, Nancy Binay, Grace Poe, Sherwin Gatchalian, Richard Gordon, Leila de Lima, Joel Villanueva, Francis Pangilinan, Pia Cayetano and Panfilo Lacson.

The Senate is expected to take plenary action on the resolution when regular session reconvenes on May 17. Butch Fernandez

LOCKDOWNS TO DENT DBCC GROWTH TARGET Continued from A1

The country’s recovery will be aided by three factors—efforts to manage health risks; the country’s P2-trillion fiscal and monetary packages including the 2021 budget and Bayanihan extension, among others; and the government’s vaccination program.

Chua added that a total of 1.6 million vaccine doses have been administered across A1 to A3 priority groups as of April 21. The A1 priority group is health workers; A2, seniors; and A3, Filipinos with comorbidities.

Based on data from the National Task Force Against Covid-19, at least 1.398 million Filipinos belonging to the A1 to A3 priority groups have received their first dose

of the vaccine while some 143,732 have received both their first and second doses.

“While all these quarantine restrictions may affect our GDP, we also see in the first two and a half months better data from trade and employment and we have eight months to go to actually speed up the implementation of our recovery program,” Chua said.

“So we will have to wait for the latest data for the first quarter to make our assessment and we will work hard to ensure that we vaccinate everyone, we speed up the recovery, and have a more riskmanaged approach to future lockdowns,” he added.

Apart from these, the govern-

ment, through the LegislativeExecutive Development Advisory Council (Ledac), has recommended priority legislation that needs to be passed by June this year to ensure the country’s recovery.

To-do list

THE priority list for June 2021 include the passage of the Government Financial Institutions Unified Initiatives to Distressed Enterprises for Economic Recovery (GUIDE) Act; Package 3 of Comprehensive Tax Reform Package (CTRP) or the Valuation Reform Act; and Package 4 of CTRP or the Passive Income and Financial Intermediary Taxation Act (Pifita).

The list includes amendments to

the Public Service Act, Retail Trade Liberalization Act, and Foreign Investments Act as well as passing the Rural Agricultural and Fisheries Development Financing System Act (Agri-Agra); Medical Reserve Corps Act; and Disease Prevention and Control Authority Act. The list also includes the passage of the Imposing Amusement Tax on Digital Platform and Offshore Betting Stations of Licensed Cockpits; Establishing the Tax Regime of Philippine Offshore Gaming Operators (Pogo); and Strengthening Local Government Participation in National Development by Increasing the Share of Local Government Units in the National Internal Revenue Taxes. With Bianca Cuaresma

PHL asks Asean: Help Myanmar find its way; seeks Suu Kyi release Continued from A10

Locsin proposed to consider all possible existing Asean mechanisms at hand.

“For a start we support the proposal for the Chair and the Asean Secretary-General to visit Myanmar to initiate talks among all concerned parties; with the view to improve the situation on the ground. Brunei Darussalam, as Chair, is in the position to accomplish significant and steady steps toward the restoration of peace, the return of political normalcy; most urgently, ending the

violence.”

He said he appointment of an Asean Special Envoy acceptable to Myanmar and all sides “assures all a mechanism for continuing dialogue and feedback; we support the Asean Troika mechanism.”

He said every step Asean actually takes can only be done together by consensus. And it must focus on Asean centrality. “But central in what respect?” he asked.

He provided the answer to his question, saying, “It must be a centrality for the good, such as to protect a member’s sovereign independence and advance its people’s

well-being and safety.”

Locsin said these times call for a vocal, polite but firm and clear Asean engagement in the form of a united appeal to the better angels of our nature.

“We are better than our critics make us out to be.”

“We offer this advice with the humility of those who went through the same experiences; faced the same choices; but received the help we now offer.”

Locsin recalled the bloodless 1986 Edsa Revolution “where soldiers and civilians faced off, and in that tense moment, when the

avenue could have been awash with the blood of fellow countrymen, Asean came together and called ‘on all parties to restore national unity and solidarity so as to maintain national resilience.’”

He said the protagonists in the Philippines listened. “Not a drop of blood was shed.” “ That prompting by family helped the Philippines tread the path towards the democracy that we are today,” he said.

“It reminded us that ‘[t]here is still time to act with restraint and bring about a peaceful resolution of the crisis’.”

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BSP chief: Loose monetary policy still necessary for now Continued from A1

In 2020, the BSP rate cuts reached a total 200 basis points for the year to bring the rates to an all-time low.

The BSP also so far infused over P2 trillion in liquidity into the financial system, equivalent to 11 percent of the country’s gross domestic product (GDP). It has also cut the reserve requirement for universal and commercial banks.

Diokno said the BSP will look into “certain factors” before pulling out their accommodative monetary policy stance.

“What are the factors that we are going to look into before we disengage? I think it makes sense that we look whether the growth is sustainable, whether there is traction.

So that’s growth targets, inflation

of course and employment. Those are the things that we consider,” Diokno said.

The economy contracted by 9.6 percent in 2020 as a result of the necessary quarantine measures, which restricted mobility.

Asked if he is still open to cut the banks’ reserve requirement ratios (RRR), Diokno said he believes cuts are still “on the table” but believes there is still enough liquidity currently in the system to support growth.

“The reserve requirement ratio will continue to be data-dependent, guided primarily by the outlook on inflation. At this point, there is enough liquidity in the system, but manageable inflation environment provides further room for reductions in our RRRs,” the governor said.

NBI told to sue fake RTPCR test forgers in Boracay Continued from A10

Covid cases in Boracay rising BORACAY Island, the acknowledged crown jewel of Philippine tourism, continues to remain closed to tourists from the National Capital Region, Rizal, Bulacan, Cavite, and Laguna (NCRplus), which remains under modified enhanced community quarantine status until April 30. President Duterte is expected to announce the quarantine status for NCR-plus on Wednesday.

In a news statement over the weekend, the DOT reminded the public that non-essential travel to and from the NCR Plus was still prohibited.

“Leisure travelers from the aforementioned region and provinces are encouraged to postpone their travel plans to any areas outside the bubble until such

Govt…

Continued from A1

The Transportation chief added that efforts are under way to increase the number of railway assets to date, including 1,209 kilometers in terms of route length; 168 stations; 1,381 trains; and 34 contracts. Tugade said another 20 railway contracts would be approved before the end of the Duterte administration.

“The investment poured by this administration in the Railways Sector under the Build, Build, Build Program is significantly larger than the total railway investments in the last 50 years combined,” Tugade said.

In terms of airports, Tugade said between July 2016 and March 2021, the administration completed 121 airport projects while the construction of 114 are ongoing. Another 75 projects are undergoing procurement.

For maritime, Tugade said 426 projects were completed, broken down into 215 commercial ports and 211 social tourism ports.

209% hike in projects

time that the Inter-Agency Task Force on the Management of Emerging Infectious Diseases will lift the travel restrictions,” said the DOT. Meanwhile, as of April 24, the Malay Inter-Agency Task Force reported nine new confirmed Covid-19 cases, raising the total confirmed cases in the municipality to 258.

The largest number of active cases were in Brgy. Manoc-Manoc at 30, followed by Brgy. Yapak at 17 (eight new), and Brgy. Balabag at 11 (one new)—all villages on the island.

The Malay government continued to prohibit the operation of bars on the entire island, live shows and music at restaurants and food parks, cockfighting and the operation of cockpits, and non-essential gatherings. Curfew hours are still between 11 p.m. and 4 a.m.

MEANWHILE, in a presentation, Villar said based on project accomplishments, the Department of Public Works and Highways (DPWH) has seen an increase of 209 percent or P1.716 billion in the 2011-2015 period versus the 2016-2020 period.

For projects accomplished in the 2016 to 2020 period, total infrastructure spending reached P2.537 trillion, higher than the P820.4 billion posted in the earlier period.

To date, Villar said DPWH has completed 10,376 flood mitigation structures; 89 projects under the Tatag Ng Imprastraktura Para sa Kapayapaan at Seguridad (Tikas); and Basic Education Facilities Fund Program consisting of 144,925 classrooms and 2,036 school workshop buildings and other school facilities.

DPWH also completed 187 evac-

uation centers and 130 more are undergoing construction; 5,555 bridges that were constructed, widened, upgraded, rehabilitated and strengthened; and 26,494 kilometers of roads constructed, maintained, widened, upgraded, and rehabilitated.

The DPWH also completed some 2,192 kilometers of tourism roads under the Tourism Road Infrastructure Program (TRIP); 606 kilometers of roads leading to industries and trade corridors; 406 kilometers of access roads under the Kalsada Tungo sa Paliparan, Riles at Daungan (Katuparan) program; and 1,835 kilometers of farm to market roads and 90 kilometers of farm to mill roads.

Health capacity

A FEW weeks ago, UP School of Economics Professor Toby Melissa C. Monsod said government spending that is not directed toward boosting the country’s health capacity may do more harm than good.

Monsod said the government should concentrate on boosting the country’s health capacity. Based on the findings of her recent study, the lockdowns do not account for the contraction of economic growth last year, but the country’s lack of capacity to detect and respond to the pandemic.

Monsod said, however, that the 2021 budget does not reflect this priority since the budget of the Department of Health (DOH) was reduced, while the infrastructure budgets for DPWH and DOTr were increased.

Investing in health capacity should be a priority moving forward since, Monsod said, the lack of investments in this sector 20 years ago, could have saved the country billions.

Based on her research, Monsod said, if the government in the 2000s only invested in laboratories, economic growth would not have plunged to 9.6 percent last year.

Cai U. Ordinario

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The Nation BusinessMirror

Editor: Vittorio V. Vitug • Tuesday, April 27, 2021 A3

Palace eyes ban on entry of travelers from India

By Samuel P. Medenilla @sam_medenilla

& Claudeth Mocon-Ciriaco Correspondent

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ALACAÑANG is eyeing to ban flights from India to prevent the possible entry of the so-called double-mutant Covid-19 variant, which was first reported in the South Asian country.

The Department of Health (DOH), meanwhile, said that it is set to come out with a recommendation on possible travel restrictions on travelers from New Delhi.

In an online press briefing, Presidential spokesman Harry Roque said the measure is now being studied by concerned government agencies.

Currently, he said, there is no direct flight between Philippines and India.

On Monday, the DOH and Department of Foreign Affairs (DFA) said the government is now considering imposing a travel ban on India as a precautionary measure against the new variant, B1617.

Some countries including New Zealand, Hong Kong, United Kingdom, and the United States already

issued advisories or restricted flights coming from India.

Earlier this month, India started reporting over 200,000 cases of Covid-19 per day amid the spread of B1617 in its communities.

Following the surge, India now has the second most number of Covid-19 cases with 16.96 million cases after the United States with 32.08 million, Roque said citing data from the Johns Hopkins Coronavirus Resource Center.

Several new Covid-19 variants, which were first reported in the United Kingdom and South Africa, were already detected in the country.

Some medical experts the said variants and the lax compliance of the public to minimum health standards contributed to spike in the number of Covid-19 cases in the country last month.

Health Undersecretary Maria Rosario Vergeire said that the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) on Covid variants is already studying the variant detected in India.

“We already had an initial talks with the Department of Foreign Affairs and they are just waiting for the recommendation of the Depart-

ment of Health, together with our experts,” Vergeire said in Filipino in an online forum.

Vergeire said that the India variant or the B1617 variant has been detected in October last year “in other countries.”

“Here in the Philippines, we reviewed our records and we even let our Philippine Genome Center study this. We have not detected yet this kind of variant across the 5,000 specimens that we have sequenced here in our country,” Vergeire said in Filipino.

“So we will give information as soon as the recommendations are out

from our experts and the DOH will recommend it to IATF,” she added.

The India variant, carries two mutations: E484Q and L452R. Experts said that the E484Q mutation is similar to E484K, a mutation found in the United Kingdom (lineage B117) and South Africa (B1351) variants.

On the other hand, the L452R mutation has been found in fast spreading variants in California (B1427 and B1429).

Having these two mutations, the E484Q and L452R are said to be more infectious, and may even evade antibodies.

DOJ order protects debtors from ‘unfair’ collection practices Bill proposes stiff sanctions vs

By Joel R. San Juan @jrsanjuan1573

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HE Department of Justice (DOJ) has moved to protect debtors against harassment, threats and other unfair collection practices by erring online lending companies. (OLCs).

In a seven-page public advisory issued by DOJ-Office of Cybercrime Officer in Charge lawyer Charito Zamora, the agency disclosed that it has been receiving numerous reports of unfair debt collection practices by OLCs and cybercrime harassments by OLCs. Among the acts complained of include accessing the debtors’ phone book/contact list for purposes of sending them messages in the event of untimely and/or non-payment; posting the debtors’ personal and sensitive personal information online for purposes of shaming them; threatening debtors with death and physical injuries if they fail to settle their account balances and using pro-

fane language through text message directly sent to the debtors and to the debtors’ references for purposes of shaming them.

Zamora said debtors who experienced such illegal practices by OLCs may file criminal charges under Republic Act 10175 or the Cybercrime Prevention Act of 2012, Republic Act 10173 or the Data Privacy Act of 2012 and the Revised Penal Code (RPC).

The official said the Cybercrime Prevention Act of 2012 criminalizes illegal access, which is defined as the access to the whole or any part of a computer system without right.

On the other hand, Zamora said the deliberate publishing of public and malicious imputation, such as posting the works magnanakaw (thief), patay gutom (greedy), “estafadora” (swindler) to describe a debtor may be held liable for Cyber Libel under Section 4 9 ( c ) (4) of RA 10175.

Likewise, the agency noted that the Data Privacy Act of 2012 also criminalizes certain acts such as unauthorized processing of personal

information and sensitive personal information for unauthorized purposes and malicious disclosure.

Under the said law, the penalty of imprisonment from one year to three years and a fine of not less than P500,000 but not more than P2 million shall be imposed on persons who process personal information without the consent of the subject.

If the information processed pertains to sensitive personal information, the imposable penalty will be imprisonment ranging from three to six years and a fine of not less than P500,000 but not more than P4 million.

Furthermore, Zamora said depending on the allegations made by the complainant, the OLCs engaged in unfair debt collection practices may be held liable for any of the crimes of grave or light threats, grave or light coercions, or unjust vexation in relation to Section 6 or RA 10175.

“Since the threat was committed by, through and with the use of information and communication

technology (ICT), Section 6 of the RA 10175 comes into play. Accordingly, the imposable penalty becomes one degree higher than that provided for under RPC [Revised Penal Code],” the OCC said.

Another possible offense committed is violating Memorandum Circular 18, Series of 2019, of the Securities and Exchange Commission (SEC).

This covers unfair debt practices that include the use of obscenities, insults or profane language, publication of the names and other personal information of the borrowers; and the use of any false representation or deceptive means to collect or attempt to collect any debt or to obtain information concerning a borrower.

The agency said aggrieved individuals may file a complaint either with the Office of the Prosecutor, National Bureau of Investigation- Cybercrime Division (NBI-CCD), the Philippine National Police-Anti-Cybercrime Group (PNP-ACG), or the National Privacy Commission (NPC).

Senators push reso condemning China’s illegal activities in WPS

By Butch Fernandez @butchfBM

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SENATE resolution initiated by the Minority bloc condemning China’s illegal activities in the West Philippine Sea (WPS), is expected to be formally adopted

by Majority senators led by Senate President Vicente Sotto III as soon as Congress reconvene plenary sessions.

The still unnumbered resolution, expected to be filed Monday by Minority Leader Franklin M. Drilon, affirms full support of senators for Foreign Affairs Secretary Teodoro Locsin Jr. who fired off a slew of diplomatic protests against China, as well as Defense Secretary Delfin Lorenzana who strongly condemned the intrusion of Chinese ships wellwithinWestPhilippineSeaterritory.

A total of eleven senators have t hus far e x pressed in-

The illegal occupation by China of parts of the West Philippine Sea Territory is well within the Exclusive Economic Zone of the Philippines.

tent to coauthor the resolution, conveying Senate’s condemnation of the illegal occupation of Philippine territory by a supposed long-time friend of the Philippines that has been hosting a huge Filipino-Chinese community dating back centuries sgo.

“The illegal occupation by China of parts of the West Philip-

MV ‘Racal IV’ owners assume full responsibility for MisOr oil spill

By Jonathan L. Mayuga @jonlmayuga

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HE owners of the MV Racal IV that sank in the waters of Jasaan will take full responsibility for the oil spill in Misamis Oriental last April 3, Environment Secretary Roy A. Cimatu said.

In a news statement issued on Monday, Cimatu said the Environmental Management Bureau (EMB) in Region 10 (Northern Mindanao) has held a meeting with the ship owners to discuss the damages brought about by the incident to the environment.

“The incident should serve as a lesson for business owners to take full responsibility for the damages brought about by their operations near the country’s rich ecosystems,” Cimatu said, citing a report from EMB-Region 10 Director Reynaldo Digamo submit-

BM

Sen. Franklin M. Drilon

ted to the DENR Central Office.

Digamo held the meeting with vessel owners Sherwin Doctora and Lord Sanny Salvaña, together with the Philippine Coast Guard (PCG) and the local government of Jasaan last April 13.

“It was agreed upon in the meeting that the owners should shoulder all the expenses, including the cleanup activities, as well as the transportation of the contaminated debris to the accredited treatment, storage, and disposal facility,” Digamo said in his report.

Digamo also emphasized in his report that the owners should be held accountable for the environmental damage caused by the incident, including the income opportunity lost on the part of the fishermen and other stakeholders affected by the oil spill which has adversely affected five barangays.

pine Sea Territory is well within the Exclusive Economic Zone of the Philipines,” Drilon stressed.

The lawmaker from Iloilo added that apart from his allies in the Minority bloc—Senators Francis Pangilinan, Risa Hontiveros and Leila de Lima as coauthors—they will be joined by other members of the Majority bloc, including Senate President

Pro Tempore Ralph Recto and Sens.

Richard J. Gordon, Nancy Binay, Grace Poe, Lito Lapid, Ramon “Bong” Revilla Jr. and Joel Villanueva, as co-sponsors, paving the way for quick adoption of the Resolution condemning China’s illegal intrusions.

Drilon said Senate’s condemnation of illegal acts by China in the WPS territory is expected to encourage more people to speak out against Chinese intrusions.

He added it could also be considered as the senators’ contribution as “partner of the Executive” branch in laying down the country’s foreign policy.

At the same time, Dr ilon backed the suggestion of Armed Forces of the Philippines Chief of Staff General Cirilito Sobejana to put up government structures in the West Philippine Sea to solidify the country’s claim affirming these are parts of Philippine territory.

negligent, corrupt govt execs

By Jovee Marie N. Dela Cruz @joveemarie

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EADERS of the House of Representatives are pushing for the passage a bill penalizing government negligence and lapses in responding to the ongoing Covid-19 state of public health emergency.

In House Bill 9230, or the Public Health Emergency Anti-Negligent and Corrupt Practices Act, Deputy Speaker Bro. Eddie Villanueva, Deputy Speaker Bienvenido Abante Jr., Deputy Speaker Bernadette Herrera-Dy, Deputy Speaker Michael Romero, Cibac Rep. Domingo Rivera and Quezon City Rep. Allan Benedict Reyes said they filed the bill to penalize acts of government negligence, inaction and irresponsibility during a state of public health emergency like the current pandemic.

“It’s high time to raise the bar of public service even during times of crisis and difficulty so that people will not be left at the mercies of non-responsive, non performing or underperforming, negligent and, worst, corrupt public officers and employees,” added Villanueva.

It also provides for stiffer penalties for certain graft and corrupt practices committed during a state of public health emergency.

“We should not only penalize acts of corruption, bribery or plunder; we must also deplore and punish inaction and acts that are manifest and imbued with intolerable negligence, irresponsibility, inefficiency and lack of vision especially during times of crisis such as this Covid-19 pandemic. Public officers and employees should neither be corrupt nor negligent. Or else, the public will suffer a great deal of undeserving disservice,” said Villanueva.

Among the prohibited acts under House Bill 9230 are the following: a. Negligence in crafting the necessary government response to the public health emergency; b. Neglecting or refusing, after due demand or request, without sufficient justification, to act within a reasonable time on anymatterpendingbeforehim/herrelative to any issue on public health threat; c. Negligence in the performance

of duty relative to securing needed medicines, vaccines, supplies or facilities necessary in the containment or eradication of public health threat; d. Delay or causing the delay in the disbursement of public funds intended for public health emergency response of the government; e. Failure to submit a certified report, within the time allowed, on disbursements made by a government agency or local government unit pursuant to a specific government response program or project; f. Tampering or non-disclosure of full and complete epidemiological data with the purpose of downplaying the real situation of the state of public health emergency; g. Gross violation of standard health protocols promulgated by the government; and h. Entering, on behalf of the government, into any contract or transaction manifestly and grossly disadvantageous to the same, whether or not the public officer profited or will profit thereby; i. Other similar or analogous acts, provided that these acts were committed in the course of or during a public health emergency.

The bill said commission of the following prohibited acts shall be penalized with imprisonment of not less than five years nor more than 20 years, perpetual disqualification from public office, and confiscation or forfeiture in favor of the government of any prohibited interest and unexplained wealth.

In addition, the bill mandates the OmbudsmantodeputizeaSpecialOfficer to prioritize and prosecute offenses committed under the measure and ensure the immediate filing and resolution of cases.

“We never know how long this pandemic will last but one thing is certain, it’s high time to give our people greater participation, power and latitude to demand and dictate how the government should manage public affairs.

This measure simply gives the public a tool and mechanism to directly exact accountability and demand the exceptional and best possible performance government can offer. After all, we are all public servants,” said Villanueva.

Guagua hospital pursues expansion amid virus surge

By Roderick L. Abad @rodrik_28 Contributor

U

NFAZED by the recent Covid-19 resurgence, Rosario Memorial Hospital (RMH) in Guagua, Pampanga, has continued its expansion plans that involves “a sizable amount of investment” to upgrade its facilities and modernize the equipment beyond expectations from a Level 2 health-care institution.

In an e-mail interview, RMH Medical Director (MD) Dr. Lourdes Garcia Cordova bared that such initiative, per approval of their management, is progressing as scheduled, except for those that cannot be accomplished because of the spike of Covid-19 cases in the country lately that led to stricter community quarantines in Metro Manila and other areas nationwide.

“The expansion, structurally

speaking, has not been seriously affected by the present pandemic, but it somehow caused some delays because of government restrictions imposed by the IATF [Inter-Agency Task Force for Emerging Infectious Diseases],” she said.

The MD referred to the stalled inauguration last month of the newly built Medical Arts Building and Dialysis Center.

“It has been the intention of management to make the new facilities and services available to its prospective patients but, unfortunately, because of the present pandemic, the plan will have to be put on hold, as patients are now unwilling to be confined in the hospital or even to have a person-to-person consultation with the attending physician,” Cordova explained.

Seated within the more than 2-hectare lot of the hospital, the Medical Arts Building is where the

doctors’ out-patient clinics are located, while the Dialysis Center is well-equipped with modern medical technologies, including a stateof-the-art hemodialysis equipment and an osmosis machine that cannot be found elsewhere in the province.

While waiting for the right time and opportunity to formally introduce them to prospective patients, she noted that RMH can already utilize the new facilities and equipment if needed since their licenses and permits have already been secured.

The family-owned company looks forward to resume the launch of these new facilities once the lockdowns are lifted or downgraded and the Covid-19 situation in Guagua town, where the hospital is situated, and other parts of Pampanga improves further.

Going green

W HILE R MH has been lead-

ing the provision of affordable and quality health-care service within and outside of its home province since its inception in 1994, it has also transitioned into a “green” hospital.

According to her, the management believes that it must also be an advocate of environmental protection as shown in its eco-friendly facilities and equipment.

“We have installed solar panels in order to decrease our electric consumption,” cited the medical director. “We have installed a sewage treatment plant so we can reuse our wastewater for toilet use and to water our plants.”

Replacing the old 34-bed RMH building, the newly built green hospital is found in an adjacent property acquired by its owner, Engr. Eulogio del Carmen. Currently, its 98 beds separately serve patients with or without Covid-19.

A4 Tuesday, April 27, 2021 • Editor: Vittorio V. Vitug

Economy BusinessMirror

PHL starts vaccine trial against deadly ASF

By Jasper Emmanuel Y. Arcalas @jearcalas

T

HE Philippines has launched its trial test of a possible African swine fever (ASF) vaccine, a long-awaited solution to the dreaded fatal hog disease, in partnership with 10 private companies, Agriculture Secretary William D. Dar revealed on Monday.

“We have also linked with about 10 companies to undertake trial tests of ASF vaccines in the country. We just started this April 23 of 2021,” Dar said during the Sulong Pilipinas 2021 forum also on Monday.

Dar disclosed that one of the Department of Agriculture’s (DA) partner-companies for the ASF vaccine trial tests is Zoetis Inc., the largest producer of medicine and vaccination for pets and livestock.

Earlier, Dar disclosed that they are in talks with the United States Department of Agriculture (USDA) to include the Philippines in the trial

PNA PHOTO

tests of the ASF vaccine that Washington is currently developing.

“We are in discussion po with USDA kasi sila ’yong mayroong partnership sa Vietnam. They are testing what they have developed as a vaccine against African swine fever,” he said last week.

“So maganda naman po ’yong resulta ng usapan at in the very near future

ay te-testing-in rin natin ’yong bakuna dito sa bansa,” he added.

(We are in discussion with the USDA since they have an existing partnership with Vietnam to test what they have developed as a vaccine against African swine fever. The results of our discussion are very encouraging and in the very near future we can test the ASF vaccine

in the country.)

In September 2019, Zoetis said it reached a non-exclusive license agreement with the USDA Agricultural Research Service for the development and commercial production of ASF vaccines.

Zoetis added that their agreement with USDA ARS gives them “access to three patents related to ASF live attenuated vaccine strains.”

The country’s confirmed ASF cases in March fell to a 10-month low of 286, based on the latest data released by the DA. Furthermore, DA data showed that ASF cases continue to decline with April numbers poised to set a 20-month low of outbreaks since the fatal hog disease was confirmed in August 2019.

Latest DA data showed that it has confirmed only 98 ASF cases as of April 16. The DA recorded 82 ASF cases in August 2019, when the fatal hog disease was first confirmed in the country.

DAR calls in AFP, PNP to help install Capiz ARBs in former Nemesio Tan landholdings

T

HE Department of Agrarian Reform (DAR) may tap police and military forces to ensure the safety of agrarian beneficiaries organizations who will soon be installed in the vast landholding formerly owned by Nemesio Tan in the towns of Pilar and President Roxas in Capiz.

The DAR in Western Visayas has recently conducted a joint conference on April 20, 2021 with Philippine National Police (PNP) and Armed Forces of the Philippines (AFP) to enact policies, plans, and programs for the upcoming installation.

It took the DAR a decade to resolve the land dispute between the farmers and the heirs of Nemesio Tan with the awarding of land titles to the 175 ARBs covering a total of 188.08 hectares of land.

To ensure the safety and protection of the DAR involved

and ARBs to be installed in the contentious areas, the DAR deems it necessary to call in the local police and the army assigned in the area.

During the March 23, 2021 distribution of land titles to the ARBs, with no less than DAR Secretary John R. Castriciones gracing the event, DAR-Western Visayas Regional Director Sheila B. Enciso expressed her gratitude to the partner agencies for their support.

“The AFP and the PNP play vital roles in the implementation of Comprehensive Agrarian Reform Program [CARP].

The DAR in Western Visayas has been facing challenges in the implementation of land reform, specifically with private contentious landholding, but through their help we can exercise harmonious installation of ARBs,” Enciso said.

Powerful landowners, she said, have the means to harass even

DAR personnel and the ARBs to thwart CARP implementation.

Through the DAR’s strong partnership with the AFP and PNP, she said genuine implementation of the program is assured, eventually, helping lift the lives of the farmers.

Maj. Francis John Gabawa Operations Officer, 301st Infantry Brigade, on behalf of the Philippine Army, said that the agency is more than willing to support the department in the implementation of CARP as they are likewise implementing the government’s mission to improve the lives of its people.

During the meeting, Col. Julio T. Gustillo Jr., Provincial Director, Capiz Police Provincial Office (CPPO), discussed the plan for the peaceful installation ceremony assuring the participants of police protection and protecting the rights of the farmer-beneficiaries against

harassment and abuse by unscrupulous individuals.

The ARBs have the right to take physical possession of the land awarded to them through a registered Certified Land Ownership Award as embodied under Republic Act (RA) 6675, as amended.

The DAR, in cooperation with AFP and PNP has a continuing responsibility to ensure the installation of ARBs to exercise their rights of ownership and possession of the lands awarded to them. Jonathan L. Mayuga

@sam_medenilla

L

ABOR Day protests in the National Capital Region (NCR) and surrounding provinces will push through even if the government extends its modified enhanced community quarantine (MECQ) in the said areas.

Nagkaisa labor coalition, Kilusang Mayo Uno (KMU) and other major labor groups announced on Monday they have already drawn up contingency plans in case MECQ will be extended beyond April 30, 2021.

KMU Chairman Elmer Labog said aside from street demonstrations, they also planned online protests during the upcoming Labor Day. “It [extension] will not deter us to March and air our legitimate grievance. So whether there is an extension or not of the existing MECQ, all our plans for May will push through,” Labog said.

Nagkaisa Chairman and Federation of Free Workers (FFW) Sonny Matula said they have already sent a letter to Manila Mayor Francisco “Isko” Moreno Domagoso to inform him of their Labor Day activities, which will be held in Manila.

He assured the mayor that they would strictly implement minimum health standards in their onsite protest and prevent the possibility that the gathering would turn out to be a super spreader event.

“We will observe health protocols,

social distancing, and wearing of face mask and shield so we will not violate protocols,” Matula said.

For the Nagkaisa Labor Day motorcade, FFW Vice President Julius Cainglet said at least 50 cars and 50 motorcycles are expected to participate.

Labor demands

IN their Labor Day demonstrations, organized labor said they will demand for government aid to establishments to prevent more displacements; cash aid for those who were already displaced; vaccination of economic frontliners and a call to stop anti-labor policies such as red-tagging.

“More than a year into the pandemic and on our second Labor Day in quarantine, workers are still left suffering from the triple burden of bearing the brunt of the health pandemic, suffering from the ill effects of the economic crisis and agonizing over an inept and incompetent government,” their joint statement read.

“Duterte’s incompetence is killing the economy and is killing workers slowly from hunger and poverty. We therefore collectively call for Trabaho [jobs], Ayuda [assistance], Bakuna [vaccine], Karapatan at Kasarinlan [rights and sovereignty],” they added.

Aside from KMU and Nagkaisa, other participants in the Labor Day protest include the Bukluran ng Manggagawang Pilipino; Defend

Job Philippines; National Union of Bank Employees; National Congress of Unions in the Sugar Industry; Alliance of Health Workers; Alliance of Concerned Teachers; BPO Industry Employees Network; COURAGE, Ugnayan ng Manggagawa sa Agrikultura; PISTON; Migrante; and Kilos na Manggagawa.

Government initiatives

FOR its part, the Department of Labor and Employment (DOLE) announced it would be conducting an online Labor Day job fair, where at least 26,000 job vacancies from 500 employers as of Monday.

During the event, the government is also expected to hold the ceremonial launch of the Covid-19 vaccine deployment for economic frontliners.

DOLE will also hold a Job Summit, which include both employers and labor stakeholders, to finalize the National Employment Recovery Strategy (NERS), which aims to provide government aid to workers, who were displaced due to the pandemic. ������������������������������� Matula said they would be sending representatives in the summit, although he noted most labor leaders would likely be participating in their other Labor Day activities.

He noted labor leaders will particularly push for the passage of the pending Bayanihan 3 bill, which aims to fund their proposed P10,000 guaranteed income and wage subsidies for pandemic-affected workers and establishments.

DTI chief: LGU compliance with automation rule ‘slow’

By Tyrone Jasper C. Piad @TyronePiad

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HE clock is ticking for the majority of the local government units (LGUs) in the country as they have only about two months to comply with the automation of their business permit and licensing system (BPLS).

In a virtual presentation on Monday, Trade Secretary Ramon Lopez noted that only 39 percent, or 593 LGUs, out of the total 1,516 have set up an electronic business one-stop shop (eBoss).

Lopez was citing the BPLS Compliance Report as of April 14 by the Department of the Interior and Local Government and Bureau of Local Government Development.

“On the local level, many of our cities and municipalities are likewise automating their frontline services from business permitting, payment of taxes and even contact tracing,” Lopez said. “We expect the numbers to increase by June 2021.”

Earlierthismonth,theAnti-RedTape Authority (Arta) signed a joint memorandum circular with several agencies, including the Department of Trade and Industry(DTI),orderingLGUstolaunch their own eBoss by June 17.

The eBoss should be able to facilitate online submission of business permit applications; digital payment options; and issuance of electronic versions of permits, licenses or clearances.

Based on the report shared, 30 out of 33 highly urbanized cities are compliant already while 65 percent of the 110 component cities have set up eBoss.

More than half or 52 percent of the first-class municipalities and 41 percent of the second-class municipalities have their automated BPLS in place.

For third to sixth class municipalities, 30 percent or 256 out of 884

LGUs are operating an eBoss already.

“The cities in NCR [National Capital Region] have set up their own online registration system and payment system,” Lopez said. “Outside Metro Manila, we also have cities like San Fernando, Cagayan de Oro, Mandaue City, that have end-to-end systems just like Valenzuela and Parañaque in NCR.”

Business registrations

THE DTI chief said that business name registration fees collected last year amounted to P525 million—68 percent of which were paid online, higher than 35 percent in 2019. Over 916,100 business names were registered last year.

Lopez said the DTI’s system upgrade allowed applicants to register their business names online and obtain their business name certificate in eight minutes.

“We believe that the ease and positive user experience resulted in record breaking numbers,” he said.

Meanwhile, the first phase of the Central Business Portal (CBP)— which is a platform that aims to contain all business-related information—was launched already, Lopez said. It reduced both the number of forms and documentary requirements and the processing time to three to four days from over 10 days before.

The Phase 2 of CBP is already “under way and will further expand the coverage to integrate the registration with other agencies,” Lopez noted.

It will incorporate the “Philippine Business Number PHBN” which will serve as a unique business ID. “While there is Central Business Portal for registration, may I also point out the existence of a GOV. PH earlier developed by the DICT [Department of Information and Communications Technology], which is a single window uniting all Web-based government content,” Lopez added.

AI is it–but what about ethical deployment?

Workers vow to push through with protest gathering on Labor Day even with MECQ

By Samuel P. Medenilla

www.businessmirror.com.ph

By Henry J. Schumacher

W

HILE companies are making progress deploying artificial intelligence (AI), more than half of enterprises overestimate their levels of maturity in deploying responsible AI models, according to a report from BCG GAMMA, a research group within Boston Consulting Group. The responsible AI framework evaluates the technology’s potential effects on safety, privacy and society at large.

Businesses often str ug gle with three areas of responsible AI maturity: • fairness and equity, • social and environmental impact mitigation, and • whether a system is able to safeguard human well-being and preserve human authority.

AI technology underpins critical company systems. It’s becoming the backbone of services across the enterprise, from consumerfacing applications to tools that help coordinate manufacturing

or logistics. But leaders have long struggled with the ethical dimensions of the technology, including privacy and bias.

Businesses are working to deploy AI but for many, the ethical dimensions of AI are still out of grasp.

Companies find security or privacy concerns represent an obstacle in AI implementation, according to Gartner data. There are also challenges integrating AI solutions with existing architecture and the data volume or complexity.

However, benefits of responsible AI include brand differentiation and an upper hand in employee recruiting and retention, as well as a culture of responsible innovation.

Customer expectations, risk mitigation, regulatory compliance and social responsibility also need to drive business leaders to seek a responsible AI deployment.

To deal with the potential ethical implications of AI, business leaders need to focus on the traceability and explainability of AI models, minimum requirements expected by the Integrity Initiative and minimum compliance enforced by the National Privacy Commission.

The ethics of big data and AI have become hot topics, but the foundations of ethical technology stretch beyond the emerging trends.

While all businesses are required to follow certain regulatory and legal requirements, what it means to be ethical varies from company to company—and even from person to person.

Ethics can come up in unusual ways, such as blowback for not supporting social issues or labor practices. “Tech is not immune” to the ethical issues faced by all of the supply chain, such as whether to support a vendor known for union busting or a vendor contracting with controversial organizations. Amazon and Walmart have started to review the extent of their AI implementation.

IT business decisions bring a whole new set of ethical challenges. Use of data and AI, for example, can present privacy and discrimination issues on top of traditional supply chain ethics. And it falls on IT leaders to account for the ethical dilemmas.

The ethical issues fit into a business’s bottom line, too. Strong ethics sustains internal and external trust, which is good for competitive advantage. This notion of ethics is becoming much more visible to stakeholders across the board and they are using that as a measure of trust, both internally and externally.

But there’s no common definition for what ethical technology looks like and the conversation is ongoing. Instead, CIOs and other members of IT leadership are responsible for figuring out what tech ethics mean for their organizations in the near and long term.

If an organization doesn’t do its ethical due diligence, customers will catch on and trust will be diminished!

In conclusion, yes, AI is part of our future, but it is essential to understand the need for its ethical deployment. It is to be understood also that humans need to manage AI and see to it that AI does not drive the performance of the organization in the wrong direction.

As mentioned above, responsible AI benefits brand differentiation and an upper hand in employee recruiting and retention.

To deal with the potential ethical implications of AI, business leaders need to focus on the minimum requirements expected by the Integrity Initiative and minimum compliance enforced by the National Privacy Commission.

I look forward to your views on this topic; contact me at hjschumacher59@ gmail.com

News BusinessMirror

www.businessmirror.com.ph

Marcos to govt: Let’s explore preventive treatments vs virus

By Butch Fernandez @butchfBM

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HE Duterte government w a s prodded on Mond ay to t ap pre vent ive treatments and repurposed drugs as it awaits delivery of anti-Covid vaccines.

In a news statement Monday, Senator Imee Marcos pressed anew the Department of Health (DOH) and the Food and Drug Administration (FDA) to consider preventive treatments for Covid-19 and allow wider emergency use approval of repurposed drugs like Ivermectin in face of government’s “erratic timeline to procure vaccines.”

Marcos made t he sug gestion after the expected arrival Sunday of Russia’s Sputnik vaccine was delayed, recalling earlier delays have taken place even from the COVAX facility of the World Health Organization (WHO).

“Let us use preventive treatments and repurposed drugs while waiting for the vaccines,” the senator suggested, adding: “setbacks in deliver y timelines are taking place worldwide, not just in the Philippines.”

For instance, Marcos noted that India, the world’s largest vaccine manufacturer, has cut back on its vaccine exports as it faces an overwhelming surge in cases, while the EU and the UK continue to bicker over production and delivery delays, Marcos explained.

Moreover, Marcos recalled the drawback in vaccine shipments of Moderna to rich countries like Canada and Britain, adding that safety reviews also delayed the rollout of AstraZeneca and the J&J vaccine in other countries.

“We need a back-up plan to ease the burden on our health-care system,’’ she said, reminding that the global vaccine supply will remain uncertain for months to come. “So what’s the back-up plan to stop infection and transmission, especially of these Covid variants?” the senator wants to know.

Marcos recalled that repur-

posing drugs to treat Covid-19 has been undergoing further studies worldwide following testimonials of relief from patients and doctors alike, particularly in the use of Ivermectin, originally an anti-parasiticdrugthathasbeenusedinhumans to treat diseases such as elephantiasis and onchocersiasis or “river blindness.”

Reminding that the FDA granted emergency use of Ivermectin but only to certain hospitals, “I hope the hesitation is not because it is beholden to the interests of big pharma, since the drug costs only P35,” Marcos said.

The senator recalled recent results of a study by infectious d isease ex per ts in Singapore that showed the likelihood of Covid-19 infection was reduced with the use of hydroxychloroquine, Ivermectin, and a povidone-iodine throat spray among some 3,000 trial participants after the May 2020 outbreak in the dorms of migrant workers.

She added that only 201,521 Filipinos have so far received complete vaccination since the government rollout started in March, with 1,205,697 having received their first dose, according to the April 21 report of the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF).

Moreover, Marcos reminded that the government’s year-end goal is to administer 148 million jabs of single-dose and doubledose vaccines to cover 78 million Filipinos, or more than two-thirds of the country’s population of about 108 million, as recommended by the World Health Organization to achieve herd immunity.

“That means,” she added, “the government needs to achieve a daily vaccination rate of about 313,446 people every single day starting May until the end of the year,” pointing out that the latest IATF report said the fastest vaccination rate in a day has only been 93,849 people.

Harris to tell UN it’s time to prep for next pandemic

IN this Friday, April 23, 2021, file photo, Vice President Kamala Harris speaks at the IBEW Training Center in Concord, New Hampshire. Harris will make the case before United Nations members on Monday, April 26, 2021, that now is the time for global leaders to begin putting the serious work into how they will respond to the next global pandemic. AP

W

ASHINGTON—Vice President Kamala Harris will make the case before United Nations members on Monday that now is the time for global leaders to begin putting the serious work into how they will respond to the next global pandemic.

The virtual address, Harris’ second to a UN body since her inauguration, will come as the United States makes progress on vaccinating the public and much of the world struggles to acquire vaccines.

“At the same time that the world works to get through this pandemic, we also know that we must prepare for the next,” Harris will say, according to excerpts of the speech obtained

by The Associated Press. The speech will be co-hosted by UN permanent

representatives of Argentina, Japan, Norway and South Africa.

The Biden administration will mark its first 100 days in office this week. President Joe Biden is scheduled toaddressCongress on Wednesday and is certain to highlight the headway his administration has made in responding to the worst public health crisis in the US in more than a century.

Harris, according to the excerpts, will broadly outline how the administration thinks the US and other nations should consider focusing their attention. The steps include improving accessibility to health systems, investing in science, health workers and the well-being of women, and surging capacity for personal protective equipment and vaccine and test manufacturing. AP

Tuesday, April 27, 2021 A5

PHL logs grisly 1-million mark in Covid-19 cases on Monday

By Claudeth Mocon-Ciriaco Correspondent

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HE rising number of daily Covid-19 cases logged by the Department of Health (DOH) has breached the 1-million mark on Monday.

As of 4 p.m. of April 26, the DOH logged 8,929 additional cases, bringing the total number of cases in the country to 1,006,428.

The DOH also recorded 11,333

recoveries and 70 deaths.

Of the total number of cases, 7.4 percent (74,623) are active, 90.9 percent (914,952) have recovered, and 1.67 percent (16,853) have died.

Moreover, 27 cases that were previously tagged as recoveries were reclassified as deaths after final validation.

Two laboratories were not operational on April 24, 2021, while nine labs were not able to submit their data to the Covid-19 Document Re-

pository System.

No ‘artificial decline’

MEANWHILE,HealthUndersecretary Maria Rosario Vergeire agreed with the statement of the OCTA Research Group that they are seeing a decline in the number of infections and that it is no longer an “artificial decline.”

Vergeire explained that there was a decrease in the seven-day average of cases “as compared to before.”

From over 10,800, Vergeire said

Biden’s first 100 days: Where he stands on key promises W A SHINGTON—A s he rounds out his first 100 days in office, President Joe Biden’s focus on reining in the coronavirus during the early months of his administration seems to have paid off: He can check off nearly all his campaign promises centered on the pandemic.

Biden has delivered on a number of his biggest campaign pledges focused on climate change and the economy as well. But some issues have proved to be tougher for the administration—including immigration, where Biden is grappling with how to enact promised reforms in the face of a steep increase in unaccompanied minors seeking to cross the border. On some of his promises, Biden is waiting for Congress to act.

Where Biden stands on some of his key promises: Immigration

Raise refugee cap to 125,000, up from the 15,000 set by President Donald Trump.

Nowhere close. The White House first said it would stick to Trump’s 15,000 cap due to “humanitarian concerns.” After facing backlash from Democrats, it shifted gears and said Biden would increase the historically low cap on refugees set

by Trump—but probably not all the way to the 62,500 that Biden previously had planned. And the numbers actually admitted this year are likely to be closer to 15,000.

Surge humanitarian resources to the border and encourage publicprivate partnerships to deal with an increase in migration there.

Yes, but is it enough? The Department of Homeland Security has deployed the Federal Emergency Management Agency to help deal with the crisis a major increase of border arrivals, and Biden signed an executive order asking officials to prepare plans for using humanitarian resources there. He has yet to establish any new public-private partnerships. The largest number of unaccompanied children ever at the border created massive overcrowding at Customs and Border Protection facilities and set off a mad scramble for temporary space at convention centers, military bases and other large venues.

Deliver a comprehensive immigration reform bill to Congress within his first 100 days.

Done.

End travel restrictions on people from a number of Muslim-majority countries.

Done.

Reverse Trump-era order expanding criteria for deporting immigrants and return to Obama-era principle of prioritizing deportations of immigrants posing a national security, border security or public health risk.

Done.

Stop funding and building the border wall.

Done.

Reverse Trump’s public charge

IN this February 11, 2021, file photo, President Joe Biden looks at a model of Covid-19 as he visits the Viral Pathogenesis Laboratory at the National Institutes of Health in Bethesda, Md. AP

rule discouraging immigrants from using public benefits.

Done.

Restore the Obama-era principle of deporting foreigners who are seen as posing a national security threat or who have committed crimes in addition to the crime of illegal entry.

Done.

Freeze deportations for 100 days.

Attempted, but blocked in court.

Streamline and improve the naturalization process for green card holders.

In progress. Biden signed an executive order in February ordering a plan to improve the naturalization process, and the Department of Homeland Security has since revoked some Trump-era rules, sought public input into naturalization barriers and reverted to a 2008 version of the US civics test for applicants, considered more accessible than the Trump-era revamp.

End family separation and create task force to reunite families separated at the border.

In progress. Biden signed executive orders ending the policy and establishing a task force focused on reuniting families. The task force is making slow progress as it pores over thousands of records.

Covid-19 Rejoin World Health Organization.

Done.

Ensure 100 million vaccines have been administered before the end of his first 100 days, later increased to 200 million.

Done.

Increase access to testing and establish pandemic testing board.

Done.

Issue mask mandate on federal property and ask Americans to wear masks for 100 days.

Done.

Extend nationwide restrictions on home evictions and foreclosures.

Done.

Continue to pause student loan payments.

Done.

Safely reopen a majority of K-8 schools.

According to data collected by Burbio, a school-tracking site, as of April 18 62% of schools offered in-person learning every day. It’s unclear what percentage of those schools are elementary schools.

Push for passage of $1.9 trillion COVID-19 relief legislative package.

Done; the bill passed in March.

Climate Rescind Keystone XL oil pipeline permit, protect the Arctic National Wildlife Reserve, rejoin the Paris climate agreement and embrace the Kigali Amendment to the Montreal Protocol to reduce harmful hydrofluorocarbons, or HFC’s.

Done.

Convene climate world summit and persuade nations to set more ambitious emissions pledges.

Done.

Ban new oil and gas leases on federal lands and offshore waters.

Sort of—he’s imposed an indefinite moratorium on new oil and gas leases on federal lands and waters.

Reverse Trump rollbacks on 100 public health and environmental rules.

In progress. Biden signed an executive order on Inauguration Day ordering a review of Trump-era rules on the environment, public health and science, and has begun the process of rolling back some. AP

that the seven-day moving average in cases is at 9,500, “so the decline is not artificial.”

However, she warned that “almost” all cities of Metro Manila are still at risk and that there is no room for complacency.

“The average daily attack rate of almost all local government units in Metro Manila is still high. They are still at 19 to 55 number of cases per 100,000 population every day,” she said Filipino.

Oil firms raise fuel prices anew

By Lenie Lectura @llectura

A

NOTHER oil price increase takes effect this week.

Oil companies announced Monday they will hike pump prices Tuesday morning following movements in the world oil price market.

Gasoline prices will increase by P0.45 per liter, kerosene by P0.65 per liter and diesel by P0.35 per liter.

Petron Corporation, Pilipinas Shell, PTT Philippines, Phoenix Petroleum, Total Philippines, Caltex Philippines will implement the price adjustment at 6 a.m. of April 27.

Cleanfuel, meanwhile, said it would adjust its pump prices at 4:01 p.m., Tuesday.

Other oil firms are expected to follow suit.

This is the third oil price hike for the month.

Last week, gasoline prices went up

by P0.60 per liter, kerosene by P0.85 per liter and diesel by P0.70 per liter.

MECQ lifting rests on jabs drive pace, says expert

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HE government is not ready to lower the community quarantine classification in the National Capital Region (NCR) and its surrounding provinces until it could fast-track the pace of its vaccination drive and strictly enforce minimum health standards, according to a health expert.

Dr. John Wong of the Epimetrics said both factors should first be considered by the government before deciding whether to ease or extend the modified enhanced community quarantine (MECQ) in NCR Plus, which includes Metro Manila, Laguna, Rizal, Bulacan, and Cavite, by next month.

“So without accountability or visibility on these [additional] indicators, I would say we’re not yet ready for GCQ [general community quarantine],” Wong said.

Currently, the government decides on the community quarantine classifications based on the two-week attack rate, daily attack rate, healthcare utilization rate. NCR Plus is now under MECQ after the daily new Covid-19 cases nationwide rose from 4,000 to 10,000 last month.

Ideal factors

BEFORE lowering the community quarantine in NCR Plus to GCQ, the national government, Wong, said the government should increase the number of people it inoculates against Covid-19 to 350,000 per day.

As of April 21, the government was able to vaccinate around 1.4 million people against Covid-19 since it started its inoculation drive last month. Samuel P. Medenilla

BusinessMirror

A6 Tuesday, April 27, 2021

ESTABLISHMENT / ADDRESS NO.

FOREIGN NATIONAL / NATIONALITY

ESTABLISHMENT / ADDRESS POSITION

8 STONE BUSINESS OUTSOURCING OPC 5-10/f Tower 1 Pitx Kennedy Road Tambo Parañaque City

NO.

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS FOREIGN NATIONAL / NATIONALITY

ESTABLISHMENT / ADDRESS

FOREIGN NATIONAL / NATIONALITY

POSITION

NO.

POSITION

39.

NGUYEN GIANG HA Vietnamese

CUSTOMER SERVICE REPRESENTATIVE

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

NO.

FOREIGN NATIONAL / NATIONALITY

POSITION

127.

XU, JIANXING Chinese

CHINESE CUSTOMER SERVICE

1.

CHEN, QINGCHENG Chinese

MARKETING STAFF

40.

PANG, FEILONG Chinese

CUSTOMER SERVICE REPRESENTATIVE

77.

CHEN, ZEBIN Chinese

CHINESE CUSTOMER SERVICE

128.

XU, QINGQING Chinese

CHINESE CUSTOMER SERVICE

2.

XU, WEIWEI Chinese

MARKETING STAFF

41.

SI SI YIN Myanmari

CUSTOMER SERVICE REPRESENTATIVE

78.

CHEN, NAITING Chinese

CHINESE CUSTOMER SERVICE

129.

XU, SHENGZHANG Chinese

CHINESE CUSTOMER SERVICE

ACCENTURE, INC. 7f Robinsons Cybergate Tower 1 Pioneer St Mandaluyong City

42.

SONG, ZENGFA Chinese

CUSTOMER SERVICE REPRESENTATIVE

79.

CHEN, RUI Chinese

CHINESE CUSTOMER SERVICE

130.

YUAN, NAN Chinese

CHINESE CUSTOMER SERVICE

TECH WRITING AND TRANSLATION PROJECT EMPLOYEE

43.

TAN, YU Chinese

CUSTOMER SERVICE REPRESENTATIVE

80.

CHEN, PEIFENG Chinese

CHINESE CUSTOMER SERVICE

131.

ZHAN, SHUIFA Chinese

CHINESE CUSTOMER SERVICE

44.

TING JUN BIN Malaysian

CUSTOMER SERVICE REPRESENTATIVE

81.

DANG, MENG Chinese

CHINESE CUSTOMER SERVICE

132.

ZHANG, MAOMAO Chinese

CHINESE CUSTOMER SERVICE

45.

VUONG VAN TUAN Vietnamese

CUSTOMER SERVICE REPRESENTATIVE

82.

DANG HOAI NAM Vietnamese

CHINESE CUSTOMER SERVICE

133.

ZHANG, HEWEI Chinese

CHINESE CUSTOMER SERVICE

46.

WANG, DAPENG Chinese

CUSTOMER SERVICE REPRESENTATIVE

83.

DESMAND JEE SZE HAO Malaysian

CHINESE CUSTOMER SERVICE

134.

ZHANG, JING Chinese

CHINESE CUSTOMER SERVICE

47.

WANG, YONGCHUN Chinese

CUSTOMER SERVICE REPRESENTATIVE

84.

DU, RUOYU Chinese

CHINESE CUSTOMER SERVICE

135.

ZHAO, HAITAO Chinese

CHINESE CUSTOMER SERVICE

48.

WEN, JIAWEI Chinese

CUSTOMER SERVICE REPRESENTATIVE

85.

DUAN, XIEGUI Chinese

CHINESE CUSTOMER SERVICE

136.

ZHAO, WEN Chinese

CHINESE CUSTOMER SERVICE

49.

XU, MINGXIN Chinese

CUSTOMER SERVICE REPRESENTATIVE

86.

FAN, MUYU Chinese

CHINESE CUSTOMER SERVICE

137.

ZHENG, YUNDAN Chinese

CHINESE CUSTOMER SERVICE

50.

YANG, RENYUAN Chinese

CUSTOMER SERVICE REPRESENTATIVE

87.

GAO, GUOJUN Chinese

CHINESE CUSTOMER SERVICE

138.

ZHOU, XIAOMIN Chinese

CHINESE CUSTOMER SERVICE

3.

LEE, CHANGJUN South Korean

ANOC99 CORPORATION 5/f Ayala Malls Manila Bay Building D. Macapagal Blvd. Cor. Aseana Street Tambo Parañaque City 4.

GAO, MENGLIN Chinese

CHINESE CUSTOMER SPECIALIST

APLUS ACCEL INC. 9/f Burgundy Corporate Tower 252 Sen. Gil Puyat Ave. Pio Del Pilar Makati City 5.

TANG, JIXIN Chinese

CUSTOMER SERVICE REPRESENTATIVE

BIG EMPEROR TECHNOLOGY CORP. Eastfield Center Cbp1, Macapagal Blvd. Brgy. 076 Pasay City 5f-13f, Jiaxing Tower Building Aseana Avenue, Aseana Business Park Tambo Parañaque City 6.

GE, JING Chinese

MANDARIN CUSTOMER SERVICE

51.

GUO, YU Chinese

CHINESE CUSTOMER SERVICE

139.

CHEN, ZHEN Chinese

CHINESE CUSTOMER SPECIALIST

7.

MANDARIN CUSTOMER SERVICE

CUSTOMER SERVICE REPRESENTATIVE

88.

LIU, CHAO Chinese

YANG, MING Chinese

52.

HAO, CHEN Chinese

CHINESE CUSTOMER SERVICE

140.

CHU NGOC SON Vietnamese

CHINESE CUSTOMER SPECIALIST

8.

MANDARIN CUSTOMER SERVICE

CUSTOMER SERVICE REPRESENTATIVE

89.

WU, SHENGLI Chinese

ZHAI, YINLONG Chinese

53.

HOU, JINBIAO Chinese

CHINESE CUSTOMER SERVICE

141.

FU, SIYU Chinese

CHINESE CUSTOMER SPECIALIST

9.

MANDARIN LANGUAGE SPECIALIST

CUSTOMER SERVICE REPRESENTATIVE

90.

CHEN, PENG Chinese

ZHANG, YU Chinese

54.

HOU, PANLONG Chinese

CHINESE CUSTOMER SERVICE

142.

HAO, WEI Chinese

CHINESE CUSTOMER SPECIALIST

10.

MANDARIN LANGUAGE SPECIALIST

CUSTOMER SERVICE REPRESENTATIVE

91.

HUANG, XIAOFEI Chinese

ZHANG, LIYING Chinese

92.

CHINESE CUSTOMER SERVICE

143.

MANDARIN LANGUAGE SPECIALIST

LIN, FEIXIANG Chinese

CHINESE CUSTOMER SPECIALIST

11.

LI, LIANG Chinese

HU, YUNHUI Chinese

93.

CHINESE CUSTOMER SERVICE

LI, HUAXIN Chinese

MANDARIN LANGUAGE SPECIALIST

HU, YOUWEN Chinese

94.

HUANG, LIANGJI Chinese

CHINESE CUSTOMER SERVICE

95.

LAM QUANH THAI Vietnamese

CHINESE CUSTOMER SERVICE

12.

ELEX INC. 2802 The Trade And Financial Tower 7th Avenue 32nd Street Fort Bonifacio Taguig City 55.

HUYNH THI XUAN THO Vietnamese

CONSULTANT (MANDARIN SPEAKING)

NGUYEN THI THANH THUY Vietnamese

CONSULTANT (MANDARIN SPEAKING)

13.

LIN, JINCHENG Chinese

MANDARIN LANGUAGE SPECIALIST

56.

14.

LIN, GUANHONG Chinese

MANDARIN LANGUAGE SPECIALIST

57.

NGUYEN VAN TIEP Vietnamese

CONSULTANT (MANDARIN SPEAKING)

96.

CHINESE CUSTOMER SERVICE

15.

WAN, BO Chinese

MANDARIN LANGUAGE SPECIALIST

58.

NGUYEN TRI BAO Vietnamese

FINANCE SPECIALIST (MANDARIN SPEAKING)

LI, PEIPEI Chinese

97.

CHINESE CUSTOMER SERVICE

16.

WEN, XINGWANG Chinese

MANDARIN LANGUAGE SPECIALIST

98.

17.

MANDARIN LANGUAGE SPECIALIST

LI, JI Chinese

CHINESE CUSTOMER SERVICE

XIE, GUICHUN Chinese

FLYING DRAGON NETWORK PHILIPPINES INC. Malate Bayview Mansion 1781 M. Adriatico Street 076, Brgy. 699 Malate Manila

LI, CONGHUI Chinese

99.

CHINESE CUSTOMER SERVICE

18.

YANG, XIAOLI Chinese

MANDARIN LANGUAGE SPECIALIST

LI, ZHIGAO Chinese

CHINESE CUSTOMER SERVICE

BILLION DRAGON OUTSOURCE PHILS., INC. One Townsquare Place Bpo Bldg. Alabang Zapote Rd. Almanza Uno Las Piñas City 19.

ZHANG, QIANG Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

CEYLANKA TRADING INC. Nb 310-nb311 Sm North Edsa North Ave. Bagong Pag-asa 1 Quezon City 20.

DE SYLVA, MINODH GYAN Sri Lankan

21.

HARASGAMA, NIBODAKA PANDUKABAYA BANDARA Sri Lankan

LEAF DIRECTOR/TECHNICAL CONSULTANT

MANAGER TEA TASTING/ MARKET LEAD

CLUSTEND CORP. Rm.215 Marcos Alvarez Ave. Talon I Las Piñas City 22.

SONG, MIN SUP South Korean

CHIEF OPERATION MANAGER

DYNAMIC STUDIO TECHNOLOGY INC. 5th To 10th/f Platinum Tower Building Aseana Ave. Cor. Fuentes Street Baclaran Parañaque City 23.

24.

25.

26.

27.

28.

29.

BAI, TENGFEI Chinese

CUSTOMER SERVICE REPRESENTATIVE

CHEN, GUANGLU Chinese

CUSTOMER SERVICE REPRESENTATIVE

CHEN, SAI Chinese

CUSTOMER SERVICE REPRESENTATIVE

33.

34.

LIANG, KUNSHUAN Chinese

CUSTOMER SERVICE REPRESENTATIVE

35.

LIN, JUNLONG Chinese

CUSTOMER SERVICE REPRESENTATIVE

36.

LIU, XIAO Chinese

CUSTOMER SERVICE REPRESENTATIVE

37.

LIYANG, YINGZHONG Chinese

CUSTOMER SERVICE REPRESENTATIVE

38.

LY THAI HOA Vietnamese

CUSTOMER SERVICE REPRESENTATIVE

CHINESE CUSTOMER SERVICE

147.

CHEN, QIANG Chinese

CHINESE CUSTOMER SERVICE

148.

CHEN, ZHIHAN Chinese

CHINESE CUSTOMER SERVICE

149.

CHEN, JUNHUI Chinese

CHINESE CUSTOMER SERVICE

150.

CHEN, ZHU Chinese

CHINESE CUSTOMER SERVICE

151.

CHEN, HAORAN Chinese

CHINESE CUSTOMER SERVICE

152.

CHEN, XIANGKUI Chinese

CHINESE CUSTOMER SERVICE

153.

CHEN, WUJIE Chinese

CHINESE CUSTOMER SERVICE

154.

CUI, YU Chinese

CHINESE CUSTOMER SERVICE

155.

DOU, JINCHAO Chinese

CHINESE CUSTOMER SERVICE

156.

FAN, QILING Chinese

CHINESE CUSTOMER SERVICE

157.

FENG, QIANQIAN Chinese

CHINESE CUSTOMER SERVICE

158.

GAN, XIA Chinese

CHINESE CUSTOMER SERVICE

159.

GONG, HONGFEI Chinese

CHINESE CUSTOMER SERVICE

160.

GUO, CHENGUANG Chinese

CHINESE CUSTOMER SERVICE

161.

HE, HUAWEI Chinese

CHINESE CUSTOMER SERVICE

162.

JIANG, HUAN Chinese

CHINESE CUSTOMER SERVICE

163.

JIN, ZHENGQIANG Chinese

CHINESE CUSTOMER SERVICE

164.

KONG, LINGGUI Chinese

CHINESE CUSTOMER SERVICE

165.

LI, SHENGLI Chinese

CHINESE CUSTOMER SERVICE

166.

LI, HUAN Chinese

CHINESE CUSTOMER SERVICE

167.

LI, DEFENG Chinese

CHINESE CUSTOMER SERVICE

168.

LI, JIEMING Chinese

CHINESE CUSTOMER SERVICE

169.

LIU, YUQING Chinese

CHINESE CUSTOMER SERVICE

170.

LIU, XIANGYANG Chinese

CHINESE CUSTOMER SERVICE

CHINESE CUSTOMER SERVICE

101.

LIU, MING Chinese

CHINESE CUSTOMER SERVICE

102.

LIU, BEIBEI Chinese

CHINESE CUSTOMER SERVICE

103.

LIU, CHANGLIN Chinese

CHINESE CUSTOMER SERVICE

104.

LIU, RONGPU Chinese

CHINESE CUSTOMER SERVICE

105.

LIU, JIANHUA Chinese

CHINESE CUSTOMER SERVICE

106.

LUO, YAYUN Chinese

CHINESE CUSTOMER SERVICE

107.

MA, LI Chinese

CHINESE CUSTOMER SERVICE

108.

MA VAN TAM Vietnamese

CHINESE CUSTOMER SERVICE

109.

MAY THU NAING Myanmari

CHINESE CUSTOMER SERVICE

110.

MEI, YAN Chinese

CHINESE CUSTOMER SERVICE

111.

MOE MOE MAW Myanmari

CHINESE CUSTOMER SERVICE

112.

PU, YONGCHENG Chinese

CHINESE CUSTOMER SERVICE

113.

QIAN, BIKUN Chinese

CHINESE CUSTOMER SERVICE

114.

QIAN, BOZHI Chinese

CHINESE CUSTOMER SERVICE

115.

QIU, QIXIONG Chinese

CHINESE CUSTOMER SERVICE

116.

QIU, QINGSAN Chinese

CHINESE CUSTOMER SERVICE

117.

SHEN, LI Chinese

CHINESE CUSTOMER SERVICE

118.

SONG, YU Chinese

CHINESE CUSTOMER SERVICE

119.

SU, MINGLIANG Chinese

CHINESE CUSTOMER SERVICE

120.

SUN, HUAN Chinese

CHINESE CUSTOMER SERVICE

121.

TIAN, KAI Chinese

CHINESE CUSTOMER SERVICE

122.

WANG, JIAWEI Chinese

CHINESE CUSTOMER SERVICE

123.

WANG, QIAOXIA Chinese

CHINESE CUSTOMER SERVICE

124.

WANG, CHENGTIAN Chinese

CHINESE CUSTOMER SERVICE

171.

LIU, YAOLIANG Chinese

CHINESE CUSTOMER SERVICE

125.

WANG, YUEYUN Chinese

CHINESE CUSTOMER SERVICE

172.

LU, NING Chinese

CHINESE CUSTOMER SERVICE

126.

WANG, XUE Chinese

CHINESE CUSTOMER SERVICE

173.

LUO, GUIYIN Chinese

CHINESE CUSTOMER SERVICE

62.

ZHANG, XIAN Chinese

CHINESE CUSTOMER SERVICE

CHINESE CUSTOMER SERVICE

GENX SPORTS & MEDIA PRODUCTION CORP. 11/f Aseana I Bldg. Bradco Ave. Aseana City Tambo Parañaque City HUANG, YING Chinese

CUSTOMER SERVICE REPRESENTATIVE-MANDARIN SPEAKING

64.

YIN, SHIJUN Chinese

CUSTOMER SERVICE REPRESENTATIVE-MANDARIN SPEAKING

65.

ZHANG, JINLING Chinese

CUSTOMER SERVICE REPRESENTATIVE-MANDARIN SPEAKING

63.

66.

ZHANG, ZHEZHE Chinese

CUSTOMER SERVICE REPRESENTATIVE-MANDARIN SPEAKING

INQUICK SERVICES INC. Unit 606 6/f Itc Bldg. 337 Sen. Gil Puyat Ave. Bel-air Makati City 67.

SU, YANGHAI Chinese

MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE

INVECH TREASURE PROCESSING CORPORATION 2nd, 3rd, 4th, 5th Floor Six West Campus Mckinley West Fort Bonifacio Taguig City 68.

72.

CUSTOMER SERVICE REPRESENTATIVE

CHEN, ZEHONG Chinese

LIU, DONGHUA Chinese

CUSTOMER SERVICE REPRESENTATIVE

LE THI HAO Vietnamese

146.

61.

HOANG THI BICH LOAN Vietnamese

32.

CHINESE CUSTOMER SERVICE

100.

71.

CUSTOMER SERVICE REPRESENTATIVE

CAI, CHEN Chinese

CHINESE CUSTOMER SERVICE

CUSTOMER SERVICE REPRESENTATIVE

JING, YALONG Chinese

145.

60.

GUO, LIDONG Chinese

31.

NEW ORIENTAL CLUB88 CORPORATION Sky Garage Bldg. Aseana Avenue, Entertainment City Tambo Parañaque City 1331 Pearl Plaza Bldg. Quirino Ave. Tambo Parañaque City 1829 L M Guerrero St. 076, Bgy 697 Malate Manila

LIN, YONGFENG Chinese

CUSTOMER SERVICE REPRESENTATIVE

CUSTOMER SERVICE REPRESENTATIVE

CONSTRUCTION MANAGER

JIANG, YUE Chinese

GIP NHOC PHUNG Vietnamese

HU, WEI Chinese

LIU, WEI Chinese

59.

CUSTOMER SERVICE REPRESENTATIVE

CUSTOMER SERVICE REPRESENTATIVE

144.

CAO, MINJIE Chinese

DUONG TIEU BINH Vietnamese

HONG, YA Chinese

30.

NEPC POWER CONSTRUCTION CORP. 15/f Cyber One Bldg. Eastwood Cyberpark City Bagumbayan 3 Quezon City

69.

70.

73.

NOVI YANTI Indonesian GUAN, MINGCONG Chinese WU, JIANWEN Chinese

COMPUTER SYSTEM ANALYST I,T TECHNICAL MANDARIN I.T TECHNICAL MANDARIN

CHEN, YUANBEN Chinese

IT TECHNICAL MANDARIN

HUANG, YIFENG Chinese

IT TECHNICAL MANDARIN

HUANG, QIHAO Chinese

IT TECHNICAL MANDARIN

JIDA COMMUNICATION (PHILIPPINES) INC. 99 Comclark Reliance Center E. Rodriguez Jr. Ave. Ugong Pasig City 74.

LIU, HAO Chinese

DESIGN MANAGER

JSLINK INTERNATIONAL CORPORATION 803-804 Ri-rance Building Aseana Enclave Aseana City Tambo Parañaque City 75.

MAO, LIYONG Chinese

TECHNICAL CONSULTANT

MAYEKAWA PHILIPPINES CORPORATION 4f Unit A&b Suntree Tower 13 Meralco Avenue, Ortigas Center San Antonio Pasig City 76.

ITO, SHINICHI Japanese

CHIEF OPERATING OFFICER

Tuesday, April 27, 2021

News BusinessMirror

A7

DOF eyes higher NG share from GOCCs

T

By Bernadette D. Nicolas @BNicolasBM & Jovee Marie N. de la Cruz @joveemarie

HE Department of Finance (DOF) has proposed increasing the mandated dividend remittances of government-owned and -controlled corporations (GOCCs) to the national treasury from the current 50 percent to at least 75 percent of their net earnings in a bid to raise funds for a possible third economic stimulus bill or Bayanihan 3.

Finance Secretary Carlos G. Dominguez made this proposal to House Speaker Lord Allan Velasco after their recent meeting to discuss funding sources for a possible third economic stimulus measure to help the country recover from the economic shock of the prolonged Covid-19 pandemic.

Dominguez and Budget Secretary Wendel Avisado met with Velasco and other House leaders last April 8 to discuss the proposed Bayanihan 3 that was principally authored by the Speaker and Marikina Rep. Stella Luz Quimbo.

“I agree with you that fiscal stimulus measures need to be backed up by adequate revenue sources. As mentioned, we are currently looking at the possibility of increasing the dividend rates remitted by governmentowned or -controlled corporations (GOCCs) to the National Government (NG),” Dominguez said in his letter to Velasco.

Attached to Dominguez's letter are some of the DOF's proposed amendments to Republic Act 7656 or the GOCC Dividends Law. The DOF’s proposed amendments to the Dividend Law cover net earnings of GOCCs starting 2020.

In its proposed definition of net earnings, DOF wants to include exempt income, income subject to final tax, franchise tax, and other percentage taxes and other special taxes.

Apart from its proposal to increase the mandated dividend remit-

tances to 75 percent, DOF said "additional dividends may be collected out of accumulated earnings."

The Finance department also wants to include Social Security System and the Philippine Health Insurance Corporation among the list of GOCCs exempted from the mandatory declaration and dividend remittance to the national government.

Instead of imposing fines or the penalty of imprisonment for violating the provisions of the Dividend Law, the DOF also proposed that “government corporations not in compliance with the provisions of this Act as determined by the Department of Finance (DOF) shall not be entitled to any form of performance bonus or incentives.”

Dominguez told finance reporters on Monday that he favors a deficitneutral stimulus package.

The country's finance chief also said during a press conference on Monday that they are currently in talks with Congress on Bayanihan 3.

Aside from looking into hiking the mandated dividend remittances of GOCCs to the national treasury, Dominguez said they are also exploring the possibility of cutting down non-essential government expenditures.

"Together, we are exploring additional sources of revenue to mitigate the impact of an expenditure program on our fiscal deficit," he said.

Dominguez, who heads the President's economic team, has

Rice tariff collection rises to ₧4.3B in Q1

By Bernadette D. Nicolas @BNicolasBM

T

HE government's tariff collections from rice imports in the first quarter of the year rose by 9.2 percent to P4.29 billion from P3.92 billion in the same period last year.

Bureau of Customs (BOC) data shown by Finance Secretary Carlos G. Dominguez III during the Sulong Pilipinas forum on Monday showed 0.606 million kilograms of rice imports entered the country from January to March this year.

Based on separate BOC data obtained by the BusinessMirror, rice import volume for the first quarter of the year slid by 6.37 percent to 605,540 metric tons (MT) from 646,747 MT recorded in the same period last year.

For the months of January and February, rice tariff collection by the BOC went up by 58.5 percent and 37.9 percent year-on-year, respectively. Meanwhile, rice import volume climbed by 29 percent year-on-year in January and 21.2 percent in February.

Unlike the first two months of the year, rice import volume in March declined by 53.8 percent to 120,560 MT from 260,964 MT in the same month a year ago. Rice tariff collection in the same month also dropped by 47.8 percent year-on-year to P849.32 million from P1.63 billion in 2020.

Tariffs collected from rice imports are used to fund the six-year P10-billion annual Rice Competitiveness Enhancement Fund (RCEF) to bankroll programs that provide farmers with high-quality

seeds, machinery, easier credit access, and relevant training. This is meant to improve their productivity and become competitive.

Should annual tariff revenues from rice imports exceed P10 billion, the Rice Tariffication Law mandates earmarking the fund by Congress—and included in the national budget of the following year—for financial assistance to palay farmers, titling of agricultural lands, an expanded crop insurance program on rice, and crop diversification.

During his speech on Monday, Dominguez said the BOC has already collected a total of P31.9 billion in rice import tariffs since the Rice Tariffication Law took effect in March 2019.

“The law ensures that farmers benefit directly from import tariffs by providing at least 10 billion pesos each year for mechanization, high-quality seeds, access to credit, and training. Since the law’s effectivity, the Bureau of Customs has collected a total of 31.9 billion pesos in rice import tariffs, which is funding the modernization of our agricultural sector,” he said.

Last year, the government collected P15.47 billion in rice tariffs from 2.38 million metric tons (MMT).

In 2019, Customs collected P12.3 billion in rice tariffs from 2.03 MMT of rice imports from March to December following passage of the law.

The Rice Tariffication law, Dominguez said, paved the way for the opening up of the Philippine rice market and lowered the price of the country's staple. Without the law, Dominguez said the country would have experienced even higher inflation rates and seasonal rice shortages.

repeatedly pointed out the need to keep the amount of fiscal stimulus measures within levels so as to keep the budget deficit manageable and not burden future generations of Filipinos with unsustainable debt servicing.

In a related development, the proposed Bayanihan to Arise as One will authorize the President to withdraw capital from GOCCs and increase their dividend remittances to fund the Bayanihan 3, a leader of the House of Representatives confirmed on Monday.

Citing the draft of Bayanihan 3, the cochairman of the House Committee on Economic Recovery Cluster, Rep. Joey Sarte Salceda, said all proceeds from the use of the President’s flexible powers under Bayanihan 3 to withdraw capital and adjust dividend remittances under the GOCCs Dividend law shall be used exclusively to fund the measure.

Upon recommendation of the Secretary of Finance, Salceda said the bill authorizes the President to order the withdrawal of capital from GOCCs under certain conditions.

“It also mandates the Secretary of Finance to draw up a list of GOCCs that can be mandated to increase dividend remittances to the national government,” he said.

Earlier, Salceda said he estimates that the increase the mandatory dividend remittances of GOCCs to 75 percent will probably result in P70 billion in additional revenues.

According to Salceda, the current draft of the technical working group (TWG) on Bayanihan 3 includes P108 billion for universal basic income of P1,000 per head, with another P108 billion in standby funds; P12 billion in direct funding for assistance for individuals in crisis situations (AICS) of the Department of Social Welfare and Development, and P3 billion for Medical Assistance for Indigent Patients (MAIP).

The draft bill also said that to assist Micro, Small and Medium Enterprises (MSMEs), the Small Business Wage Subsidy (SBWS) program of the Department of Finance (DOF), Social Security System (SSS), and the Bureau of Internal Revenue (BIR) shall be continued and expanded, especially to MSMEs highly impacted by the Covid-19 crisis.

Home care kits eyed for Covid-19 patients

H

EALTH Undersecretary Maria Rosario Vergeire said the Department of Health will soon distribute “home care kits” in a bid to give treatment to mild and asymptomatic patients undergoing home quarantine.

In a media forum, Vergeire said the plan is also a way to “redirect” patients who are going straight to the hospitals.

The “home care kits” is apparently similar to the ones given out under the project of the Office of the Vice President.

However, Vergeire emphasized that the kit is just part of the “complete process” for the patient’s healing.

“This is not really just about the kits but it’s also the system, the process that goes with it because when we say home care package, we will have financing mechanism for that,” the DOH official said.

The kit will include: vitamins, paracetamol, face masks, face shields, alcohol and disinfection supplies.

Depending on their budget, Vergeire said they will check if they can also include a pulse oximeter, a small clamp-like device deemed crucial for measuring a person’s oxygen level.

The DOH will also talk with the Philippine Health Insurance Corp. (PhilHealth) as the home care kit will include a “financing mechanism.”

“That’s why we’re negotiating with the PhilHealth,” she said. Claudeth Mocon-Ciriaco

A8 Tuesday, April 27, 2021 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Not communist, just Christian

T

he late Brazilian Roman Catholic Archbishop Helder Camara, one of the most prominent liberation theologians of Latin America, who was also called the “Bishop of the slums,” once famously said: “When I give food to the poor, they call me a saint.

When I ask why they are poor, they call me a communist.”

Well, in the Philippines nowadays, it seems even giving food to the poor can get you branded a communist, like what Lt. Gen. Antonio Parlade Jr. and Undersecretary Lorraine Badoy, spokespersons of the government’s counterinsurgency task force, did to Ana Patricia Non, the young lady who started the Maginhawa community pantry in Quezon City.

But isn’t feeding the poor and helping people who are in need, more than anything else, Christian?

Feeding the hungry and giving drink to the thirsty are first and second among the seven acts of charity, what Catholics call the corporal works of mercy.

Indeed, the sprouting of hundreds of community pantries all over the country—bearing the same sign: Give what you can, take what you need— just barely two weeks after the first humble bamboo cart with free vegetables and canned goods was first set up by Non, has even been compared to Jesus’ miracle of feeding the multitude.

Jesus performed more than 40 miracles in the Gospels but the story of how he managed to feed thousands of hungry people from the only food available in the crowd—the five loaves of bread and two fish offered by a young boy— is one of his most often-told miracles, in fact, the only miracle recorded in all four Gospels aside from the resurrection.

Perhaps, it is no coincidence that many Filipinos felt an immediate and empathic connection with the Maginhawa community pantry, which is why they multiplied it, why it seems to have animated the Catholicism of this predominantly Catholic nation.

This year, we are celebrating 500 years of Christianity in the Philippines.

Archbishop Romulo Valles of Davao, president of the Catholic Bishops’ Conference of the Philippines, said the best way to celebrate this quincentennial is “to make our faith shine in deeds of charity and mercy.”

“Anyone of us can take up this challenge—to serve the least and lowest of our brethren,” Valles said in his opening remarks during the CBCP’s virtual plenary assembly held in January.

Well, Patricia Non and all the people who started their own little charitable grocery booths on streets and sidewalks all over the Philippines are taking up this challenge of faith. They are showing what it is to be truly Christian during this pandemic, when many people have gone hungry due to lockdowns and restrictions to curb the spread of the virus.

These Filipinos of all ages, genders and walks of life who lined up for hours waiting for their turn to stock up on donated food have no one else to turn to. Many of them have no way to earn an income and do not have access to any social welfare safety net. They have not received any ayuda. Indeed, these community pantries have been nothing short of a miracle to them.

Going by the number of religious festivals we have here, the places of worship that dot our landscape and the religious symbols we see at homes, in workplaces and worn by our people, one can’t deny by casual observation that Filipinos are a very religious people. Many times though it is the kind of religiosity wherein one can do what one wants for as long as he or she goes to mass on Sundays, says the rosary, or performs the rituals during Holy Week.

Catholicism, Christianity, or any faith for that matter—Muslims stress the value of acts of charity and generosity—would be nothing more than false enthusiasm and empty phrases, if it is not accompanied by appropriate actions, if it is not lived and fulfilled in the lives of its faithful.

In a world where more and more of the younger, affluent generation seem to be inclined to making their first million before they turn 30, there is something truly heroic and truly Christian in the simple act of service that Patricia Non started.

The ordinary Filipinos like her who put up these community pantries are living out their faith. Their religiosity is rooted in human experience. Working quietly and diligently without expectation of reward or recognition, they are trying to feed a hungry multitude.

Such compassion, kindness and generosity should be commended, not criticized, much more condemned. These are the everyday examples of Christianity that Filipinos could better relate to and imitate.

Since 2005

BusinessMirror A broader look at today’s business

Everybody must join in the recovery effort Manny B. Villar

THE Entrepreneur

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E Filipinos should not depend solely on the government to solve all the ills besetting our economy. We must contribute in our own little way to revive the economy.

Many Filipinos, for one, are keeping their money in the banks. Many entrepreneurs remain hesitant to invest and spend amid the concerns related to the prolonged pandemic.

While this is understandable given the quarantine restrictions that continue to impede the opening of business establishments, we should prepare for opportunities that will be available once the vaccination program rolls out at full steam.

Data from the Bangko Sentral ng Pilipinas (BSP) show that while outstanding bank loans declined 0.7 percent year-on-year in 2020, bank deposits actually grew 9 percent in the same period. What this tells us is that while we have enough money in the banks, they are not fully utilized to support domestic investments and spending. No wonder, our gross domestic product contracted 9.6 percent in 2020, the worst among Southeast Asian economies.

Bank deposits last year reached P14.9 trillion, accounting for around 83 percent of our gross domestic product of P17.9 trillion at current

prices. Total deposits rose 9 percent, or P1.2 trillion, from P13.6 trillion in 2019, according to Philippine Deposit Insurance Corp. Meanwhile, outstanding loans of universal and commercial banks, net of reverse repurchase placements with the BSP, declined 0.7 percent to P9.18 trillion as of end-2020.

More people placed their money in the banks despite the pandemic, as shown by the 8.7-percent increase in the number of deposit accounts to 80.1 million in 2020 from 73.7 million in 2019. These included large accounts, or deposits with balances above P500,000, which expanded to 2.7 million in 2020 from 2.5 million in 2019. The combined assets of these large depositors increased to P13.1 trillion from P12 trillion.

The PDIC looks at the deposit growth as an indication of improved depositor confidence in the banking system despite the pandemic.

However, it may also mean Filipinos were shying away from purchasing big-ticket items, such as houses and cars, and were parking their money

With indications showing that the pandemic may not be resolved anytime soon, we have to rebuild our health-care infrastructure to make it more responsive and better equipped to handle the situation so that the government will not be forced to declare economic restrictions again.

in banks, to the detriment of the real estate and automotive sectors.

Such reluctance among consumers to spend actually hit most segments of the economy, which heavily relies on personal consumption expenditures. The Philippines, according to the World Bank, experienced the sharpest contraction of output among the largest economies in Southeast Asia, reflecting the impact of the pandemic, combined with strict nationwide lockdowns and mobility restrictions.

This is why it is important that we encourage entrepreneurs and consumers to support recovery efforts, while continuing to observe the health protocols mandated by the government.

I am impressed by recent data from the Department of Trade and Industry showing that 432,962 business names were registered in the first quarter of 2021.

The figures followed the 44-percent increase in business name registrations to 916,163 in 2020 from 637,580 in 2019. The DTI expects business name registrations to top 1 million this year on the back of the

growing e-commerce in the country.

Over 80,000 online sellers last year registered their business names, up from just around 6,000 in 2019.

I believe many entrepreneurs registered their business names in preparation for the full reopening of the economy once we bring the health crisis under control. Hopefully, the one-month ECQ and MECQ in Metro Manila, Bulacan, Rizal, Cavite and Laguna will lead to a more manageable situation that will allow the gradual reopening of businesses.

More hospitals

WE hope that the new hospitals being put up by the government, through the Department of Public Works and Highways, will increase the capacity of our health-care sector and subsequently ease the pressure to keep the strict quarantine measures that are shackling the economy.

The DPWH under the leadership of Secretary Mark Villar is building modular hospitals, temporary treatment and monitoring facilities nationwide to accommodate the rising number of people suffering from the disease. The agency is building offsite medical facilities with hundreds of beds for moderate, severe and critical patients. In Manila, government officials broke ground on the Manila Mega Covid Field Hospital at Rizal Park that can accommodate at least 500 patients once completed.

The truth is we need more hospitals to attend to the needs of every Filipino suffering from Covid-19. Our business sector should See “Villar,” A9

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Crisis manipulation John Mangun

OUTSIDE THE BOX

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merican political commentator and television host Bill Maher had some interesting things to say on his show last week, specifically about the nearly 68 million American millennials and Gen Z. Maher is a “Boomer.”

“You know the reason why advertisers in this country love the 18-34 demographic...because it’s the most gullible. According to a Gallup poll, 36 percent of millennials think it might be a good idea to try Communism. The problem isn’t that I don’t get what you’re saying or that I’m old. The problem is that your ideas are stupid.”

The reality is that most people never had the chance to decide to “try” communism. It was imposed.

The notable exception was India. In

1967, the Communist Party of India was the fourth largest holding seats in the Parliament of India, the Lok Sabha. The largest percentage of seats came in 1989 with 6.55 percent.

But as of 2019, that percentage has dropped to 1.49 percent. While the CPI fields many candidates in local state elections, even in the strongest CPI state of West Bengal, CPI holds only 9 percent of the local assembly seats.

We think of “democracy” as being able to vote for the govern-

Another manipulative scheme is to have the “administration” and “opposition” join hands in unity. “Working together” can often mean “working together for our benefactor’s interests.”

“Too Big To Fail” always seems to come ahead of the “Too Small To Complain” businesses and individuals. ment. That is only one part of the democratic process and maybe not the most important. Democracy is about the people being able to advocate—an activity that seeks to influence decisions within political, economic, and social institutions.

The advocacy ability of the people is what has created the frequently adversarial relationship between the leaders and the followers. From Charles Hugh Smith: “The state tolerates polite advocacy because it is easily dismissed, but it views dissent as a threat, and responds accordingly.

When the people realize advocacy is an empty promise of political influence and they move to dissent, the state’s powers of suppression are unleashed.”

Government manipulates—with the active help of media—to further fear-driven crisis policymaking.

“Nothing like this has ever happened before,” which requires that “unless the government intervenes, the situation will get worse and worse.” To speed a huge, complex, “anti-terrorism” Patriot Act bill through Congress in 2001, George W. Bush invoked the shadow of another terrorist attack. “The situation we face could not be more serious” and “we can’t afford to wait” are key fear-mongering phrases.

Government can get away with these actions—which in most cases assumes to outweigh its costs and potential negative consequences— for several reasons. We are told that government officials know or can quickly determine how to solve the problem. Therefore, the people are See “Mangun,” A9

Opinion BusinessMirror

www.businessmirror.com.ph

‘Viruses cause illness.

Governments cause pandemics’ Lyca Balita

Onwards

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t’s amazing how the country has had one new government-related controversy every week since the pandemic began. Each issue is so bad that it almost feels like new ones are created every week to cover up the previous week’s shameful events. Here’s a one-issue-a-week recap of April 2021 in the Philippines so far: (1) ECQ part two in the NCR plus bubble, (2) six-figure active cases per day, (3) the Ivermectin controversy, and (4) the recent community pantries, just to name a few.

And April isn’t over yet. Who knows what May has in store?

“Viruses cause illness. Governments cause pandemics,” wrote Linda Caroll. The Oxford dictionary defines a pandemic as a disease “prevalent over a whole country or the world.” With this, Caroll’s statement seems true: it would not be fair to blame governments for the nature and biological effects of Covid-19, but we can certainly blame governments all over the world for allowing the virus to spread so much all over the world and all over each country that we are now in a pandemic. Each person has an opinion on how the virus could be handled, but one thing’s for sure: the opinions that count are those that the governments choose to enforce, and it’s those opinions that have led to this situation.

Of course, we normal citizens have a responsibility. We have to stay home, observe health protocols, and try to get vaccinated while we wait for this to be over.

But our duty generally ends there.

Beyond that (and taxes), we don’t really owe any more. Wala na tayong utang na ambag sa lipunan. Then it’s perfectly fine and within our rights to ask for the proper implementation of laws, good faith public service, and true accountability. This means we can criticize acts that deserve criticism, and praise efforts that deserve praise; that’s only fair. For instance, we have several local government units efficiently administering vaccinations, providing effective medical assistance, and keeping active cases down. Those deserve appreciation. But reckless public statements, blatant double standards, and frustratingly inefficient processes? We can speak out about these. Speaking out is within our rights, and we do not have to prove that we’ve done anything miraculous or life-changing before we can exercise this right. Besides, we have a supposed symbiotic relationship with our government: we pay our taxes, they improve our lives.

Feeding the Filipino people, ensuring health care, and managing the pandemic are not the normal citizen’s responsibility. We are not the ones with the trillion-peso budgets and huge manpower. Interestingly, however, when there are genuine attempts to help fellow citizens achieve these goals through initiatives such as community pantries and free telemedicine consultations, the accusations and criticism come in. The initiators receive threats, trolls, and (red) tags. It makes no sense: those in charge are unable to effectively fulfill their duties, so

Villar. . .

Continued from A8

take this as a hint to invest in medical facilities, as the government cannot do it alone.

With indications showing that the pandemic may not be resolved anytime soon, we have to rebuild our health-care infrastructure to make it more responsive and better equipped to handle the situation so that the government will not be

Criticism does not mean we want the government to fail: there’s a thick line between objective critique and insurrection, so not all who speak out necessarily want to overthrow the government; we just want them to listen and do better. Giving out an opinion should not result in us being categorized as belonging to a communist organization or siding with a “yellow” political person. Giving out opinions just means we are Filipinos who actually care about the country and what happens to it, so we encourage conversations to figure out solutions and to develop more educated perspectives. Besides, the only people who still remain silent despite this whole situation are those who profit off the pandemic, so maybe the question shouldn’t be why one has so many opinions, but rather why someone is still apolitical today. others attempt to help, yet the latter are punished? The fragility is almost laughable. Maybe gag orders should have been issued to several persons earlier on.

Anyway, the point is this: we can reasonably criticize official government acts. We can begin and join conversations regarding the wisdom and legalities of decisions of our public officials, and we do not have to drastically change the nation before we can do so. Criticism does not mean we want the government to fail: there’s a thick line between objective critique and insurrection, so not all who speak out necessarily want to overthrow the government; we just want them to listen and do better. Giving out an opinion should not result in us being categorized as belonging to a communist organization or siding with a “yellow” political person.

Giving out opinions just means we are Filipinos who actually care about the country and what happens to it, so we encourage conversations to figure out solutions and to develop more educated perspectives. Besides, the only people who still remain silent despite this whole situation are those who profit off the pandemic, so maybe the question shouldn’t be why one has so many opinions, but rather why someone is still apolitical today.

For feedback, send an e-mail to lyca.balita@ gmail.com

forced to declare economic restrictions again.

The construction of more hospitals, along with the vaccination program, will help us reopen the economy and allow our entrepreneurs to support recovery efforts. Israel has shown that it could be achieved, when it recently lifted the mandatory face mask policy as the country’s mass vaccination showed dramatic results. The country reported that more than 80 percent of its population over the age of 16 received two

Tuesday, April 27, 2021 A9

500th anniversary of the Battle of Mactan

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It is only proper and fitting that we commemorate our victory at the Battle of Mactan and honor the audacity and heroism of Lapulapu and his men. RA 11040, otherwise known as “Lapulapu Day,” was enacted declaring April 27 each year as a special working public holiday throughout the Philippines and a special nonworking holiday in Lapulapu City.

One major historical event that every Filipino should recall and rescue from oblivion is the Battle of Mactan, which took place exactly 500 years ago today. We are celebrating today the quincentennial victory of Lapulapu over a foreign power that invaded our shores. It is one glorious battle, which our ancestor won even before the birth of our nation. It is historic not only as it marked our triumph over the future colonizers but also it was a momentous part in the first circumnavigation of the world. It demonstrated the gallantry and bravery of our ancestors and their love for freedom. Their valor and independent spirit signaled a dire warning to the whole world that: “Ne’er shall invaders trample thy sacred shores.”

The unprecedented act of courage of Lapulapu and his men is most worthy of remembrance. W hile other chieftains had submitted to the will of, and paid tributes to, the conquistadores, Lapulapu and his valiant warriors resisted and fought the invaders. Under Republic Act 10086,

rows, iron-tipped ‘bamboo’ throwing spears…, fire-hardened sticks, and even stones. They surrounded Magellan’s landing party, attacking from the front and both flanks. The heavy armor of the Spaniards largely protected them from this barrage, inflicting only a handful of fatalities on the Europeans, but it was heavily demoralizing to the troops. In the end, Magellan’s musketeers and crossbowmen were no match to Lapulapu’s strong will, conviction, and love for independence.”

The victory at the Battle of Mactan is a great story worth telling and retelling. Not through the maudlin song of Yoyoy Villame but the authentic narrative of a historian who has done a thorough study and research on the subject. This is what RA 10086 mandates: to develop genuine appreciation of our heroes by “raising social consciousness, reinvigorating government support for historical research, and sustaining and enhancing programs for the protection, preservation and conservation of historical relics and memorabilia, monuments, sites and other historical resources.”

Thus, it is only proper and fitting that we commemorate our victory at the Battle of Mactan and honor the audacity and heroism of Lapulapu and his men. RA 11040, otherwise known as “Lapulapu Day,” was enacted declaring April 27 each year as a special working public holiday

Manny F. Dooc

TELLTALES S a nation, Filipinos love to celebrate defeats and tragedies.

Our historical calendar is replete with grievous events that are marked red in our history such as the Fall of Bataan, the Battle of Tirad Pass, the execution of Jose P. Rizal and the assassination of Ninoy Aquino. Truly, they are significant and it would be ignoble to relegate them to the dustbin of history since they depict the true meaning and measure of their greatness. However, we should draw greater inspiration from triumphs and accomplishments that bring pride to our race. For instance, there is pure honor and joy when we observe the Philippine Independence Day, the Battle of Leyte and the Edsa Revolution. Victories uplift our spirits and ennoble our nationhood.

“Strengthening Peoples’ Nationalism Through Philippine History Act,” the State “shall provide the means to strengthen peoples’ nationalism, love of country, respect for its heroes and pride for the people’s accomplishments by reinforcing the importance of Philippine national and local history in daily life…” In this light, Senator Richard J. Gordon had filed Senate Resolution 652 on February 15, 2021 “expressing the sense of the Senate of the Philippines in acknowledging Lapulapu as a sentinel of freedom who courageously fought to protect his native land and led the victory at Mactan during the first circumnavigation of the world.” Quoting the work of Jose Amiel Angeles, “The Battle of Mactan and the Indigenous Discourse on War,” published in Philippine Studies Vol. 55, No.1 (2007), Senator Gordon cited Lapulapu’s bold courage and leadership. “To protect his land and his people, Lapulapu and his men attacked Ferdinand Magellan’s troops with a heavy barrage of ranged weapons, consisting of ar-

Tax incentives under CREATE Atty. Rodel C. Unciano

Tax Law for Business Part two

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N a previous column, I discussed the bundle of tax incentives that enterprises may avail under the Corporate Recovery and Tax Incentives for Enterprises Act or CREATE, which are generally categorized into five types as follows: 1) Income tax holiday, 2) Special corporate income tax, 3) Enhanced deductions, 4) Duty exemption on importation of capital equipment, raw materials, spare parts, or accessories, and 5) Value-added tax exemption on importation and VAT zero-rating on local purchases.

Subject to certain conditions, the ta x incentives under the CREATE law may be granted to registered enterprises only to the extent of their approved registered project or activity under the Strategic Investment Priority Plan (SIPP) to be formulated by the Board of Investments, in coordination with the Fiscal Incentives Review Board, Investment Promotion Agencies, other government agencies administering tax incentives, and the private sector, and subject to the approval of the President. Projects or activities not listed in the SIPP shall be automatically disapproved.

The SIPP shall contain a list of doses of Pfizer/BioNTech vaccines, resulting in sharp decline in hospitalizations.

While it may take us more than a year to have 70 million Filipinos inoculated, the example of Israel shows us that with the right approach, we can get through the challenges of the pandemic to restore our economy and support the creation of jobs for millions of Filipinos.

For comments, e-mail mbv.secretariat@gmail. com or visit www.mannyvillar.com.ph.

priority projects or activities taking into account the amount of investments, generation of employment especially in less developed areas, considerable amount of net exports, use of new technology, as well as processes and innovations that will lead to the attainment of sustainable development goals, including but not limited to the adoption of adequate environmental protection systems and sustainability strategies.

The SIPP shall also take into account the promotion of market competitiveness, enhancement of the capabilities of Filipino enterprises and professionals to produce and offer sophisticated products

Mangun. . .

Continued from A8

forced into accepting the “we must do something” mode because doing “something” is better than doing nothing.

In the wake of the Global Debt Crisis, President Obama announced that there was no need for fact-finding, study, and debate even though neither house of Congress stopped to hold hearings on

throughout the Philippines and a special non-working holiday in Lapulapu City. This is the least we can do to consecrate a man who undauntedly went to war and displayed indomitable courage to defeat a superior foe. In the process, Lapulapu had served notice to the whole world that our territories were not up for grabs by any foreign imperialist. And he did not need a UN Arbitral Tribunal Award to do that.

Lapulapu is more than just a fish delicacy that we feast on the table; he is a national hero who belongs in the pantheon of great men. We are grateful to Senator Gordon and his colleagues in rightfully acknowledging Lapulapu as “a Sentinel of Freedom and as a role model of chivalry and patriotism for the youth of today and tomorrow.” nnn

There are many noble and great deeds that transpire each day in our midst. The medical frontliners who attend to their work unmindful of the grave risks which they confront; the community pantry organizers who go about feeding the hungry despite the red-tagging and intimidation that they face; and many workers in the government and private sectors who expose themselves to the contagious virus by physically reporting to work and meeting various stakeholders to perform their duties.

In our own little way, even before the community pantries became a trend, we have provided free lunch or merienda to the garbage collectors who collect our trash every Monday, and relief bags of basic commodities to our driver, househelps, some village maintenance laborers and former household workers who have kept in touch with us. We treasure their services to us and the community, and every little act of courage should not pass unnoticed if we want to be worthy of their struggles and sacrifices.

and services. Contribution to Philippine food security, generation of incomes in the agriculture and fisheries sector and creation of services and activities that can promote regional and global operations in the country are likewise paramount considerations.

Notwithstanding the foregoing, the President may modify the mix, period or manner of availment of incentives or craft the appropriate financial support package for a highly desirable project or a specific industrial activity based on defined development strategies for creating high-value jobs, among others. This is, however, subject to maximum incentive levels recommended by the Fiscal Incentives Review Board and in no case that the period of incentive availment shall exceed 40 years.

With the effectivity of CREATE, what will happen to the incentives currently being enjoyed by enterprises pursuant to the provisions of existing laws?

Registered business enterprises whose projects or activities were granted only an income tax holiday prior to CREATE shall be allowed to continue with the availment of the income tax holiday for the remaining period of the income tax holiday as specified in the terms and conditions of their registration. Enterprises that have been granted the income tax holiday but have not yet availed of the incentive upon the effectiv-

ity of CREATE may use the income tax holiday for the period specified in the terms and conditions of their registration.

Registered enterprises whose projects or activities were granted an income tax holiday and the 5 percent tax on gross income after the income tax holiday shall be allowed to avail of the 5 percent tax on gross income for 10 years. Registered business enterprises currently availing of the 5 percent tax on gross income prior to the effectivity of CRETAE shall also be allowed to continue availing the said tax incentive at the rate of 5 percent for 10 years.

The reformed tax incentives under CREATE are expected to provide relief to small businesses, attract new investments and create new employment opportunities especially in less developed areas resulting to countrywide development and a more inclusive economic growth.

the bailout/stimulus legislation.

Most members had never read the entire bill. Obama: “We can’t posture and bicker. Endless delay and paralysis in Washington in the face of this crisis will only bring deepening disaster.”

Another manipulative scheme is to have the “administration” and “opposition” join hands in unity.

“Working together” can often mean “working together for our benefactor’s interests.” “Too Big To Fail” always seems to come ahead of the

“Too Small To Complain” businesses and individuals.

Finally, if and when a policy is not working as planned and promised, there is always the “Final Solution”: Pour in more money. But that is fine because, as we are told, it is really not “our” money and government knows how to spend it better anyway.

The author is a partner of Du-Baladad and Associates Law Offices (BDB Law), a member-firm of WTS Global.

The article is for general information only and is not intended, nor should be construed as a substitute for tax, legal or financial advice on any specific matter. Applicability of this article to any actual or particular tax or legal issue should be supported therefore by a professional study or advice. If you have any comments or questions concerning the article, you may e-mail the author at rodel.unciano@ bdblaw.com.ph or call 8403-2001 local 140.

E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.

A10 Tuesday, April 27, 2021

Agri sector aid, innovation, one-stop shops top biz pleas

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By Tyrone Jasper C. Piad @Tyronepiad

HE business sector pitched several actionable recommendations to the government’s economic managers, including aid to the agriculture sector, innovation and the setting up of onestop shops for government services.

During the Sulong Pilipinas event on Monday, the Philippine Chamber of Commerce and Industry (PCCI) suggested actions that are seen to help the country recover from the impact of the Covid-19 pandemic.

PCCI President Benedicto V. Yujuico said the Department of Agriculture and local government units (LGUs) should “provide farmers with financial aid, farming implements, and consistently market local produce by the end of 2021.”

Such efforts will assist and sustain farmers and organizations affected by the pandemic.

The business organization urged the Department of Education, the Department of Budget and Management and the Department of Science and Technology to come up with ways to strengthen the science and technology curriculum to enhance learning outcomes

and innovation. In addition, PCCI also asked the agencies to identify opportunities for investments in self-sufficient research facilities by 2022.

Yujuico called on the government to set up one-stop shops for all its services and portals to facilitate easier transactions. PCCI hopes various government services will be integrated within the year.

“To improve health and emergency response, the government, through the DOH, should provide more strategic investments, increased support for human resource, upgraded facilities, and upto-date technology that will create long-term impact post-pandemic by 2022,” PCCI said.

PCCI asked the Transportation department to craft an integrated transportation and logistics roadmap within five to eight years to make the mobility efficient.

Yujuico urged the Trade department to work with manufacturers and importers of construction materials to ensure enough supply for the country’s massive infrastructure drive.

“To ensure effective policy enforcement, the government agencies and the military should have a faster coordination and strategic communications strategy that reaches the grassroots- and community-level,” the PCCI official said.

“To attract regional investments, the LGUs, DepEd, and CHED [Commission on Higher Education] should establish programs to enhance skills and talents to support sectors and industries as part of the economic recovery program starting 2021,” he added.

The business group asked several government agencies to have more investments for universal social protection by 2022 so many women with young children will be enabled to work.

Lastly, PCCI suggested increasing spending on urban mobility infrastructure, like bike lanes, and public transport reform by 2022.

“Rest assured that we at the PCCI will continue to support the government in reviving our economy by providing employment opportunities and interventions for our people in a relatively safe and sustainable manner,” Yujuico said.

Reform on education

IN a separate statement on Mon-

day, the PCCI pushed a multistakeholder approach for education reforms to pinpoint the gaps and challenges in the system, adding that the group’s Education Task Force (ETF) convenes for the first time on April 28.

Yujuico said the ETF will assess and evaluate the current state of Philippine education to come up with policy recommendations that can make it more competitive.

“The Covid-19 pandemic has exposed the challenges, gaps, and deficiencies of our educational system. Now is the best time that we sit down and seriously discuss these gaps and provide solutions that would make the system at par with other countries,” Yujuico said.

The industry group noted that the Philippines ranked 61st in education among 63 countries in the latest World Competitiveness Survey.

PCCI said the policy paper to be produced by the ETF will use the Quality Improvement Framework to review the education system and to pitch reforms.

It will cover four major areas of development: Philippine Qualification and Learning Outcomes, Curriculum and Instructions, Competencies of Teachers and Educational Leaders, and Institutional and Policy Reforms.

The ETF will be composed of 12 officials from the academe.

PCC BACKS REMOVING MAV, REPLACING IT WITH RIGHT TARIFFS

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EMOVING the minimum access volume (MAV) for agricultural imports and replacing it with appropriate tariff may bode well for the consumers and local industry, the Philippine Competition Commission (PCC) said.

PCC Chairman Arsenio M. Balisacan told the BusinessMirror that the country can better regulate its imports if the MAV regime is abolished while imposing tariffs.

“Removing the MAV regime and using tariffs instead to regulate imports is a move in the right direction,” he said.

Agriculture Secretary William D. Dar told the BusinessMirror earlier they are looking into streamlining import procedures through reforms in the MAV system and placing a unitary tariff rate for both in-quota and out-quota.

The Department of Agriculture (DA), Dar said, is studying the removal of the current MAV licensing requirements to carry out a“first come, first serve”policy on securing existing quotas for certain agricultural imports.

MAV refers to the certain volume of agricultural imports that are imposed with lower tariffs. In the Philippines, it covers rice, corn, pork, poultry meat, coffee and sugar.

Moving away from the MAV regime, Balisacan said, can address both the concerns with price and supply stability of agricultural products.

There have been supply constraints in pork in the country amid the African Swine Fever (ASF) outbreak. The government has placed different measures to arrest the surging prices due to lack of supply, including imposing suggested retail prices.

“From my view, to enhance price/ supply predictability and stability in the industry over the medium to long haul, we should go away with MAV,” he said.

In addition, replacing the MAV with tariffs can“provide farmers with reasonable protection from import surges,” Balisacan said.

Tariffs are in place to protect the local sector as these increase prices for their competitors’goods. The PCC chief stressed that the tariff to be imposed if ever should be on a par with the Association of Southeast Asian Nation (Asean) peers.

On April 7, President Duterte issued Executive Order 128 following the recommendation of the DA and economic managers to stabilize pork supply and price.

The in-quota tariff for pork imports will be reduced to 5 percent for the first three months of implementation. During the 4th to 12th month of the effectivity of the EO, tariffs will be raised to 10 percent.

Out-quota pork products will be imposed with lower tariffs of 15 percent for the first three months and 20 percent during the 4th to 12th month of effectivity.

The original tariff rates of 30 percent and 40 percent for in-quota and outquota imported pork, respectively, will be implemented again a year after the implementation of EO 128.

Last week, Malacañang urged the lawmakers to give EO at least two months before they push to scrap the issuance. Senators said previously the order might result in imported pork cornering the market.

Tyrone Jasper C. Piad

PHL asks Asean: Help Myanmar find its way; seeks Suu Kyi release

By Recto Mercene

A

@rectomercene

FTER saying that Myanmar is a big part of the two hands that together make up the family of the Association of Southeast Asian Nations (Asean) 10, Foreign Affairs Secretary Teodoro L. Locsin Jr. asked the rest of Asean to stand by Myanmar, “ready to work with and give what help it is asked.”

“With Myanmar as lead, let us launch a process towards reconciliation. Towards a commitment to end violence on all sides and to de-escalate tension and unrest is vital,” Locsin said during the Philippines Intervention at the Asean Leaders’ Meeting in Jakarta.

He said reason cannot be heard above the shouting and shooting, the provocation and reaction. “We also call on security forces in Myanmar to exercise restraint; and refrain from using excessive force against unarmed citizens and demonstrators; especially against the children.”

Locsin said “it is crucial that we enable delivery of unhindered humanitarian assistance to all who need it. Prompt and adequate medical care and access to health services are priorities.”

Release Suu Kyi

“WE urge a return to dialogue. The release of Daw Aung San Suu Kyi, President Win Myint, and other political detainees sets a conducive environment for this,” he added.

Locsin is in Jakarta representing President Duterte as Special Envoy to discuss urgent matters in the region, including the key initiatives on Covid-19 recovery, Asean’s external relations, and regional and

international issues.

The former Makati lawmaker said the Asean Leaders’ Meeting “will affirm or cancel the core of our Asean identity, our Asean Way.” “The eyes of the world are upon us, but that matters the least. How we see ourselves in the future is what matters most,” he added.

According to Locsin, “Asean was founded on the determination of countries of Southeast Asia to ‘ensure their stability and security from external interference in any form or manifestation, in order to preserve their national identities in accordance with the ideals and aspirations of their peoples.’ Our peoples, the peoples of Southeast Asia are watching us now.”

He said Asean was born in reaction to the massive foreign intervention in the Vietnam War, “the cruelest conflict in the post-war world.”

Mercifully, the war ended well, “with the victories of our brothers in this room. Libya and Iraq, not so —and that is a fate I warned Daw Aung San Suu Kyi against when last we talked.”

Locsin affirmed the Philippines’s strong commitment to the sovereignty, political independence, territorial integrity and unity of Myanmar and its return firmly and irreversibly to the path of democracy.

Asean, he noted, is “cognizant of the Army’s role in preserving Myanmar’s territorial integrity and national security, ever under threat from those who wish to break her apart and feast on her dismembered parts.

“But even so, we equally recognize the unifying role of Daw Aung San Suu Kyi in her country’s history and its destiny.”

Continued on A2

HEALTH workers assist residents of Barangay Payatas in Quezon City as they get vaccinated on buses mobilized by the local government as part of its vaccine deployment plan. NONOY LACZA

NBI told to sue fake RT-PCR test forgers in Boracay

By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

T

HE Department of Justice (DOJ) has ordered the National Bureau of Investigation (NBI) to probe incidents arising from the spread of fake RT-PCR test results, and to file cases against perpetrators, if warranted.

In Department Order 088 dated April 23, 2021, Justice Secretary Menardo Guevarra said, “[The] NBI, through officer-in-charge Eric B, Dis-

tor, is hereby directed and granted authority to conduct an investigation and case build-up on the alleged proliferation of falsified negative Real-Time Reverse Transcription Polymerase Chain Reaction (RT-PCR) test results used to enter Boracay Island, and if evidence warrants, to file the appropriate charges against those found responsible therefor.”

The DOJ order was issued on the request of the Aklan provincial government, which sought the assistance of the DOJ during the Boracay Inter-Agency Task Force meeting

last March 18, due to the rampant fake negative RT-PCR test results being presented to the island.

In a Viber message to the BusinessMirror, Guevarra explained that not only the tourists who presented the fake negative RTPCR test results will be investigated, but “also included [are the forgers],” and those who scam the tourists into taking fake tests. “It’s more important to stop those who manufacture the fake test results,” he underscored.

To date, 166 tourists have been

found presenting fake negative RT-PCR test results, some of whom were caught in Manila before boarding the plane, and others at the Caticlan jetty port, according to the Malay local government.

The Department of TourismRegion 6 (Western Visayas) had filed charges in February against six tourists from Manila who submitted fake negative RT-PCR results to enter Boracay. They were arrested in January for falsification of public documents.

Continued on A2

www.businessmirror.com.ph

Companies BusinessMirror

Tuesday, April 27, 2021

B1

Singapore power plant cuts core profit of Meralco in Q1

T

By Lenie Lectura

@llectura

he Manila Electric Co. (Meralco) posted in the first quarter a 66-percent increase in reported income to P4.3 billion, while core profit fell 11 percent to P5.1 billion compared to year-ago figures.

Meralco Chief Finance Officer Betty Siy-Yap said during Monday’s briefing that the company’s net income was largely attributed to foreign exchange (forex) gain, re-evaluation of Meralco’s investment in Global Business Power Corp. (GBPC) and non-core expense adjustment.

“Forex is a small amount. There was forex gain of P52 million because when we account for core net income, we take out forex. We considered it as a one-time thing. For GBPC, it was more of a re-evaluation of the

existing carrying amount of our 14-percent equity in GBPC. That was about P207 million. Another item is none-core expenses of P705 million and this relates to implementation of provisions of the CREATE [Corporate Recovery and Tax Incentives for Enterprises],” said Yap. Meralco’s power generation arm, Meralco PowerGen Corp., completed last March 31 the acquisition of the 86-percent combined equity in GBPC from Metro Pacific Investments Corp. and JG Summit Holdings Inc.

Meralco and MGen drew a 5-year term loan amounting to P5 billion and a P17-billion bridge loan, respectively, to cover the first installment of the GBPC purchase price of P19.6 billion. The balance of the installments is payable up to September 2022.

Meralco’s lower core profit, meanwhile, was due to its share in the P2.7billion investment impairment of Singapore-based PacificLight Power Pte. Ltd. Energy sales volume shrank by 4 percent to 10,473 gigawatt hours (GWh) as demand was affected by the pandemic. However, the general community quarantine (GCQ) and the re-imposition of the enhanced community quarantine (ECQ) beginning March 29 saw residential volumes taking a bigger share in the total volumes sold as work-fromhome arrangement and stay-at-home policies prevailed throughout the first quarter of 2021.

The share of Industrial sales volumes was at 31 percent, representing 3,261 GWh. Industrial sales volumes

Startups urged to use patent analytics

By Tyrone Jasper C. Piad @TyronePiad

S

tartups are encouraged to incorporate patent analytics in their business strategy development to identify trends and gaps in the market.

Intellectual Property (IP) Strategist Jason Loh, during a webinar hosted by the IP Office of the Philippines (IPOPHL), Japan External Trade Organization and the Japan Patent Office, said startups should be in the know about the industry of interest prior to developing a technology.

Loh is an innovation investor who has over two decades of experience in the startup sector in Asia. He is also a founder of Piece Future, which is an Asian IP investment bank with investments in more than 30 startups.

He said conducting IP research and analytics will bode well for the success of the startups. “You’ll be amazed by the amount of information you can find through patent analytics.”

According to IPOPHL, patent analytics refers to “an in-depth study of patent data from which meaningful correlations and patterns between and among inventors, key technologies, industries and geographical distributions

may be established to spot trends and identify gaps.”

Loh said the Philippines can benefit from patent intelligence as it has a lot to offer to international markets.

“Many startups often don’t know where to start, looking very deeply into new technology areas in the market when in fact they can utilize information generated from patent analysis to position themselves and develop their core competence from what they already have,” he said.

Noel A. Catibog, executive director of the Technology Transfer and Promotion Division of the Philippine Council for Agriculture, Aquatic and Natural Resources Research and Development (PCAARRD), told startups they should consult experts and seek government support in marketing and protecting their invented products.

Catibog stressed that the technology development should be hinging on an industry need, noting that many startups usually fail to consider this.

PCAARRD, he said, offers help in crafting business plans, marketing studies and feasibility studies.

“We have also established our technology network for our incubators and we provide grants now to startups adopting locally generated technologies,” Catibog added.

The council has 16 agri-aqua technology business incubators which gained from patent intelligence as of last year. They have generated 1,603 jobs and P68.7 million in gross income.

PCAARRD is teaming up with IPOPHL in seeking for new technologies to develop with the help of the latter’s patent analysis expertise.

IPOPHL said providing patent analytics is its primary service to promote the use of patent information for technology development.

This has resulted in several patent landscape reports (PLRs), which are comprehensive studies on an entire industry.

The agency’s Documentation, Information and Technology Transfer Bureau (DITTB) has produced a total of 40 PLRs to date. These are mostly in the areas of agriculture and electronics.

“To avoid commercialization pitfalls, innovators and startups must learn the value of having an IP-centric innovation and business model. They can start by exploring IPOPHL’s patent analytics service, which can help them map out their research and technology directions and even anticipate risks, all with a fuller view of the current and future industry landscape,” DITTB Director Mary Grace Cruz-Yap said.

SBMA operating revenue hits ₧820.8M in Q1

By Henry Empeño Correspondent

S

ubic Bay Freeport—Buoyed by its core seaport operations, the Subic Bay Metropolitan Authority (SBMA) registered a total of P820.84 million in operating revenues in the first quarter, even as the agency’s other business units underperformed due to the Covid-19 pandemic.

SBMA Chairman and Administrator Wilma T. Eisma said the P374.54 million collected by the Port Authority Group shored up the agency’s operating revenue by P60 million.

The agency's operating revenue in the first quarter was 5.23 percent higher than last year's figure.

“The good news was that the SBMA Seaport managed a 25-percent increase in port revenue because of a 10-percent increase in the volume of containerized cargo,” Eisma said on Monday.

“The pandemic might have caused losses to some of our units, but others—like our core business, which is the sea port—are com-

ing out as winners.” A report from the SBMA Financial Planning and Budget Department (FPBD) indicated that the agency’s Business and Investment Group (BIG) was among the SBMA strategic business units (SBUs) that suffered losses in the first quarter when compared to their performance in the same period last year.

BIG’s operating revenue dropped to P371.89 million from P373.69 million, or a decrease of P1.8 million.

Other SBUs also reported a decline in operating revenue: Regulatory Group, P8.39 million from last year’s P22.34 million; Chairman and Administrator’s Group, P1.77 million from P5.57 million; and Support Services Group, P5.92 million, from P7.63 million.

The only other unit which posted an increase was the Public Services Group, which recorded P56.87 million, or an increase of P2 million (3.64 percent) from last year’s P54.87 million.

Meanwhile, Eisma said the agency’s operating expenses rose to P298.35 million, from last year’s P293 million, while operat-

ing income went up to P522.49 million, from P487.08 million. Bad debts expense fell to P47.69 million, from P49.12 million.

“We have also recorded substantial income losses in the tourism sector, and understandably so because of so little visitor traffic since last year. But we have increases, too, in unexpected areas,” Eisma said.

She said collections in environmental and tourism fees dropped by 89 percent to P3.06 million in the first three months this year, along with a 99-percent decline in tourism facilities utilities fees; 98.7-percent drop in tour-guide fees; and a 100-percent decline in rental of the Subic Bay Exhibition and Convention Center, which was previously a major income earner.

However, Eisma said the agency made P241,637 in sports facilities rental in the first quarter, compared to zero last year; P35,000 in location-site shoot, which represented a 1160-percent increase over last year’s figure; and P15,000 in fishing permit collection, which was 113-percent higher than last year’s figure.

bounced back, reflecting a 4-percent quarter-on-quarter growth.

Commercial sales volumes were at 34 percent of the total, with total volume at 3,560 GWh or 18 percent lower.

Overall customer count grew to 7.2 million at end-March.

Meralco Chairman Manuel V. Pangilinan said the recent surge in the number of infections and its toll on the country’s healthcare system, as well as the delay in the arrival of vaccines, pushes back expectations of an early economic recovery.

“As such, we continue to revisit and recalibrate our strategies, priorities and plans. As we do so, we re-affirm our commitment to our customers to keep the lights on.

While doing so, we recognize that our people remain to be our single most important asset and will continue to ensure their well-being,” he said.

He said that second quarter demand should be better than what Meralco had recorded in the same period last year.

AirAsia secures CAAP nod to airlift vaccines

By Recto L. Mercene @rectomercene

A

irAsia was able to secure authorization from the Civil Aviation Authority of the Philippines (CAAP) to airlift Covid-19 vaccines across the archipelago, in time for the expected arrival of the bulk of vaccines in the coming weeks and months.

National Task Force Against Covid-19 Chief Implementer and Vaccine Czar Secretary Carlito G. Galvez Jr., said the country is expecting the delivery of 1 million doses of CoronaVac, 15,000 doses of Sputnik V, and 195,000 doses of Pfizer vaccines towards the end of April.

Moderna is slated to begin the delivery of 13 million doses starting June.

AirAsia targets to transport Covid-19 vaccines from Manila to Cebu and Davao starting this week, and thereafter, from Clark and Zamboanga, and other routes such as Bacolod, Bohol, Cagayan De Oro, Iloilo, General Santos City and Puerto Princesa.

Utilizing the A320 plane, AirAsia expressed willingness to mount chartered cargo flights to other destinations not presently covered by its existing route network to facilitate prompt delivery of much needed vaccines.

“We have actively participated in

different humanitarian projects in the past through a series of humanitarian flights to bring the much-needed help especially in the provinces which are not yet part of the AirAsia route network. Bringing the vaccines to the farthest localities in the provinces isn’t much of a challenge for us,” said Ricky Isla, the carrier’s Philippine CEO. “Our business model used to be purely air transport. The pandemic made us rethink and reassess areas that are essential. You can be assured that revitalizing the air transportation sector is AirAsia’s commitment to the Filipino people.” He said AirAsia’s personnel were subjected to “intense” technical training, and adequate preparations were also laid out to make sure the human and engineering components of vaccine handling are met, and of the highest standards.

AirAsia will utilize Aircraft CO2 Detectors which will play an important role in ensuring safety in the cabin during each delivery.

The carrier is already in talks with different local government units in their route network to efficiently map out the deliveries.

Meanwhile, the company’s cargo and logistic venture, Teleport, will also play a big role in the movement of the vaccines on land.

B2

Companies BusinessMirror

Tuesday, April 27, 2021

PSE STOCK QUOTATIONS

April 26, 2021

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

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

43.2 105 82.9 23.7 9.52 44.9 25.9 55.2 17.84 113.9 72.6 1.49 3.89 0.59 3.16 1.48 0.4 950 0.69 146.4 0.97

43.4 105.2 83 23.8 9.54 44.95 25.95 56 17.86 114.2 72.95 1.5 3.95 0.63 3.33 1.54 0.42 992 0.71 147 1.09

43.35 105.4 81.75 23.1 9.48 44.5 22.9 55.5 17.82 113.5 73 1.55 3.94 0.59 3.17 1.48 0.405 950 0.67 147 1.09

43.4 105.8 83.25 23.8 9.54 44.95 26.85 56.6 17.9 114.2 74 1.55 3.95 0.59 3.32 1.48 0.42 950 0.72 147 1.1

43.2 104.5 81.75 23.1 9.48 44.35 22.9 55.5 17.82 113 73 1.48 3.89 0.59 3.16 1.48 0.4 950 0.67 147 0.97

43.2 105.2 83 23.8 9.51 44.95 25.9 56 17.86 114.2 73 1.5 3.95 0.59 3.32 1.48 0.42 950 0.71 147 1

4,000 2,161,140 796,310 187,600 63,100 1,245,500 5,842,100 540 39,500 191,800 19,560 788,000 373,000 1,000 39,000 51,000 180,000 810 64,000 120 181,000

173,260 227,157,329 66,004,484 4,450,200 600,390 55,581,505 150,040,655 30,073 705,776 21,839,520 1,433,469 1,185,150 1,459,970 590 123,530 75,480 72,700 769,500 44,590 17,640 186,730

-20,723,004 -6,476,074 1,719,920 177,078 -16,122,030 -58,684,790 5,370 -6,545,695 7,550 -267,600 769,500 1,470 -

INDUSTRIAL AC ENERGY 7.04 7.05 7.05 7.17 6.95 7.05 15,232,700 107,121,552 1.29 1.3 1.29 1.31 1.29 1.29 760,000 984,520 ALSONS CONS ABOITIZ POWER 22.7 22.75 22.95 22.95 22.55 22.75 1,028,600 23,401,290 0.91 0.92 0.96 0.97 0.89 0.92 72,850,000 66,895,070 BASIC ENERGY 31.05 31.1 31.1 31.1 31 31.1 138,500 4,305,635 FIRST GEN FIRST PHIL HLDG 67.35 67.4 67.7 67.8 67.2 67.4 386,320 26,054,832 274 275 275 276.4 272.4 275 118,850 32,664,890 MERALCO 15 15.1 14.62 15.2 14.6 15 2,453,200 36,408,256 MANILA WATER PETRON 3.1 3.11 3.13 3.13 3.07 3.1 668,000 2,064,830 3.75 3.79 3.7 3.75 3.7 3.75 45,000 167,500 PETROENERGY 12 12.22 12 12.22 12 12.22 20,000 244,290 PHX PETROLEUM PILIPINAS SHELL 21.05 21.2 20.95 21.2 20.9 21.05 318,200 6,703,595 10.22 10.26 10.3 10.3 10.22 10.22 119,100 1,220,812 SPC POWER 6.41 6.61 6.6 6.92 6.4 6.63 2,307,200 15,114,537 AGRINURTURE AXELUM 3.16 3.17 3.26 3.26 3.13 3.17 1,138,000 3,608,700 19.86 20.3 20.5 20.5 19.54 20.3 2,595,700 51,890,502 CENTURY FOOD 10.9 11 10.4 11 10.4 11 286,200 3,094,590 DEL MONTE DNL INDUS 7.15 7.23 7.25 7.27 7.11 7.15 1,617,300 11,570,666 9.94 9.95 9.95 9.98 9.93 9.95 4,101,900 40,812,511 EMPERADOR 67 67.35 68 68 67 67 4,800 322,717 SMC FOODANDBEV ALLIANCE SELECT 0.62 0.65 0.66 0.66 0.66 0.66 2,000 1,320 1.36 1.38 1.38 1.38 1.36 1.38 1,749,000 2,398,670 FRUITAS HLDG 58.5 58.75 58 60 58 58.75 667,650 39,305,017.50 GINEBRA JOLLIBEE 175.8 175.9 176 177 175.3 175.9 319,270 56,129,964 31.25 32.95 33 33 33 33 500 16,500 LIBERTY FLOUR 7.12 7.8 7.39 7.8 7.1 7.8 17,800 128,870 MACAY HLDG MAXS GROUP 5.91 5.95 5.91 5.98 5.9 5.95 259,600 1,534,410 0.315 0.32 0.325 0.325 0.31 0.315 4,290,000 1,355,150 MG HLDG SHAKEYS PIZZA 7.28 7.35 7.3 7.4 7.28 7.28 39,400 287,518 ROXAS AND CO 1.01 1.03 1.03 1.03 1 1.03 1,152,000 1,166,260 1.45 1.49 1.5 1.5 1.46 1.46 26,000 38,360 ROXAS HLDG SWIFT FOODS 0.133 0.135 0.133 0.137 0.133 0.135 1,400,000 186,640 130.8 132 132 132.2 129.1 132 294,950 38,649,057 UNIV ROBINA 0.81 0.82 0.84 0.84 0.81 0.82 608,000 497,700 VITARICH VICTORIAS 2.39 2.4 2.38 2.41 2.38 2.4 89,000 213,710 55 55.7 55 55 55 55 500 27,500 CONCRETE A 60 62.95 60.05 60.4 60 60 1,000 60,035.50 CONCRETE B CEMEX HLDG 1.18 1.19 1.22 1.22 1.16 1.18 2,633,000 3,132,990 DAVINCI CAPITAL 2.8 2.83 2.96 3 2.75 2.8 3,816,000 10,710,770 11.9 12 12 12.02 11.82 11.9 20,600 246,682 EAGLE CEMENT EEI CORP 7.26 7.44 7.25 7.44 7.25 7.44 4,900 36,045 5.52 5.53 5.52 5.62 5.52 5.53 262,600 1,455,623 HOLCIM 6.75 6.78 7.13 7.13 6.68 6.78 983,500 6,700,026 MEGAWIDE PHINMA 12.2 12.34 12.2 12.3 11.96 12.3 85,400 1,038,732 1.12 1.14 1.14 1.16 1.11 1.12 601,000 675,800 TKC METALS 2.48 2.49 2.36 2.55 2.36 2.49 19,375,000 48,454,150 VULCAN INDL CROWN ASIA 1.79 1.8 1.8 1.83 1.79 1.79 929,000 1,674,580 1.99 2.02 2.01 2.01 1.99 1.99 56,000 112,110 EUROMED 4.61 4.69 4.61 4.69 4.61 4.69 9,000 41,970 MABUHAY VINYL PRYCE CORP 5.39 5.6 5.39 5.39 5.39 5.39 800 4,312 22.95 23 22.8 23 22.8 22.95 4,200 96,040 CONCEPCION 3.65 3.69 3.61 3.71 3.35 3.69 17,219,000 60,147,670 GREENERGY INTEGRATED MICR 10.22 10.24 10.78 10.78 10 10.22 2,608,900 26,728,760 1.09 1.1 1.12 1.12 1.09 1.1 144,000 158,370 IONICS 5.5 5.87 5.58 5.58 5.5 5.5 8,100 44,648 PANASONIC SFA SEMICON 1.34 1.35 1.36 1.36 1.33 1.34 61,000 81,470 5.81 5.82 5.87 6 5.79 5.81 834,700 4,848,263 CIRTEK HLDG

-1,485,617 -4,301,160 318,560 -836,240 -20,469,158 -16,371,964 -5,323,000 -669,140 -18,500 4,761,805 61,580 -208,906 95,500 -1,084,621 1,456,942 -8,194,270 -764,442 -104,257 14,659,702 -13,470,659 200,563 -35,950 -52,476 104,820 -9,574,686 -825,740 21,720 -72,920 -1,217,398 -465,709 5,600 -224,700 11,400 945,450 -23,249,220 21,614

HOLDING & FRIMS ABACORE CAPITAL 1.12 1.13 1.13 1.14 1.07 1.13 27,459,000 30,299,170 7.1 7.2 7 7.35 7 7.35 300 2,135 ASIABEST GROUP AYALA CORP 752 768 753.5 768 747 768 165,010 124,655,700 34.05 34.75 34.8 35.1 34.05 34.05 1,007,300 34,609,455 ABOITIZ EQUITY 10.38 10.48 10.44 10.48 10.3 10.48 1,305,200 13,570,908 ALLIANCE GLOBAL AYALA LAND LOG 2.96 2.97 3.05 3.12 2.92 2.96 5,801,000 17,287,450 6.61 6.79 6.8 6.8 6.61 6.61 4,900 33,244 ANSCOR 0.82 0.83 0.77 0.84 0.77 0.82 8,204,000 6,599,510 ANGLO PHIL HLDG ATN HLDG A 0.72 0.73 0.72 0.73 0.71 0.73 412,000 296,890 0.72 0.76 0.72 0.76 0.72 0.76 101,000 72,760 ATN HLDG B 5.08 5.09 5.18 5.18 5.07 5.08 2,874,500 14,606,409 COSCO CAPITAL DMCI HLDG 5.25 5.26 5.3 5.3 5.23 5.26 4,122,000 21,651,888 8.26 8.35 8.23 8.35 8.23 8.35 2,800 23,080 FILINVEST DEV 535.5 541 542 542.5 533 541 100,180 53,805,210 GT CAPITAL JG SUMMIT 51.5 51.55 54.4 54.4 51.2 51.55 3,161,150 164,667,831.50 4.6 5.02 4.65 4.65 4.56 4.56 30,000 138,080 KEPPEL HLDG A 1.02 1.03 1.07 1.09 0.99 1.03 4,012,000 4,074,610 LODESTAR LOPEZ HLDG 3.45 3.58 3.4 3.62 3.37 3.58 1,222,000 4,267,230 13.56 13.58 13.38 13.62 13.3 13.58 2,418,000 32,805,198 LT GROUP 0.475 0.495 0.475 0.475 0.475 0.475 10,000 4,750 MABUHAY HLDG METRO PAC INV 3.97 4 3.99 4 3.94 4 6,707,000 26,712,670 3.53 3.62 3.63 3.63 3.53 3.53 25,000 88,600 PACIFICA HLDG 2.83 2.89 2.91 3.05 2.72 2.83 2,762,000 7,898,140 PRIME MEDIA SOLID GROUP 1.29 1.32 1.31 1.31 1.29 1.29 21,000 27,300 374 392 410 410 371 392 1,800 683,496 SYNERGY GRID 956.5 958 969 969 952.5 958 262,470 251,218,200 SM INVESTMENTS SAN MIGUEL CORP 114.9 115 116.8 116.8 114.1 115 165,020 18,969,309 0.68 0.7 0.7 0.7 0.68 0.68 152,000 103,720 SOC RESOURCES TOP FRONTIER 133.1 136.5 134.9 134.9 133.1 133.1 454,270 61,273,550 0.25 0.26 0.255 0.255 0.25 0.25 2,690,000 678,500 WELLEX INDUS 0.23 0.232 0.233 0.233 0.221 0.23 1,140,000 256,370 ZEUS HLDG

130,540 -4,492,885 5,019,600 -10,158,258 421,970 -97,150 -1,621,713 5,886,595 -835 -6,784,785 -62,237,668 -612,070 -531,460 -21,528,176 -12,860,280 -1,705,020 -6,034,310 -6,211,800 680 -

PROPERTY ARTHALAND CORP 0.64 0.65 0.64 0.64 0.64 0.64 441,000 282,240 32.4 32.5 32.6 32.9 32.2 32.5 17,636,600 572,302,825 AYALA LAND ARANETA PROP 1.2 1.27 1.22 1.22 1.2 1.2 23,000 27,680 33.95 34 34.05 34.45 33.95 34 649,000 22,075,195 AREIT RT 1.53 1.58 1.58 1.58 1.53 1.53 495,000 763,320 BELLE CORP A BROWN 0.93 0.94 0.91 0.96 0.91 0.94 7,009,000 6,534,310 0.92 0.93 0.94 0.95 0.9 0.93 1,298,000 1,192,080 CITYLAND DEVT 0.131 0.135 0.136 0.136 0.131 0.135 2,980,000 394,380 CROWN EQUITIES CEBU HLDG 6.62 6.75 6.77 6.77 6.76 6.76 1,800 12,171 5.84 6 6 6.01 5.8 6 1,448,000 8,568,295 CEB LANDMASTERS 0.38 0.395 0.39 0.395 0.375 0.395 17,310,000 6,641,150 CENTURY PROP CYBER BAY 0.33 0.34 0.34 0.34 0.33 0.34 900,000 302,600 12.72 12.88 13 13.06 12.72 12.88 673,200 8,697,170 DOUBLEDRAGON 2.12 2.13 2.15 2.16 2.11 2.12 19,733,000 41,945,080 DDMP RT DM WENCESLAO 6.89 6.9 6.9 6.9 6.89 6.9 29,900 206,300 0.28 0.295 0.295 0.295 0.28 0.295 130,000 37,300 EMPIRE EAST 0.148 0.149 0.137 0.148 0.137 0.148 50,860,000 7,284,540 EVER GOTESCO FILINVEST LAND 1.1 1.11 1.1 1.11 1.09 1.11 9,626,000 10,548,970 0.82 0.83 0.84 0.84 0.8 0.82 139,000 112,930 GLOBAL ESTATE 7.11 7.4 7.46 7.48 7.2 7.47 18,500 135,023 8990 HLDG PHIL INFRADEV 1.35 1.38 1.43 1.43 1.34 1.38 206,000 279,830 2.05 2.06 2.18 2.19 1.92 2.06 7,413,000 14,940,540 CITY AND LAND 3.19 3.2 3.18 3.23 3.17 3.2 45,525,000 145,807,610 MEGAWORLD MRC ALLIED 0.41 0.415 0.41 0.42 0.395 0.41 35,090,000 14,250,650 0.62 0.63 0.63 0.65 0.58 0.63 23,596,000 14,322,840 PHIL ESTATES 3.24 3.25 3.06 3.26 3.06 3.24 5,744,000 18,267,660 PRIMEX CORP ROBINSONS LAND 16.96 16.98 17.3 17.3 16.98 16.98 989,300 16,861,682 0.25 0.255 0.255 0.265 0.25 0.255 930,000 237,100 PHIL REALTY ROCKWELL 1.53 1.54 1.5 1.53 1.5 1.53 158,000 239,440 2.67 2.69 2.66 2.69 2.66 2.66 14,000 37,270 SHANG PROP 2.22 2.31 2.31 2.35 2.31 2.34 32,000 74,330 STA LUCIA LAND SM PRIME HLDG 34.5 34.9 35.05 35.05 34.05 34.9 8,706,300 299,964,225 VISTAMALLS 3.73 3.9 3.7 3.9 3.7 3.9 8,000 30,420 1.5 1.52 1.54 1.54 1.5 1.5 682,000 1,027,550 SUNTRUST HOME VISTA LAND 3.59 3.6 3.66 3.66 3.52 3.6 1,921,000 6,911,720

-127,697,885 -18,000 150,825 -743,060 -173,640 209,800 -194,901 75,000 -99,000 -3,379,884 -1,251,220 -75,280 -6,567,270 -9,340 65,590 -17,459,120 655,800 118,620 8,905,800 2,465,302.00 -112,897,475 -2,192,170

SERVICES ABS CBN 10.98 11 10.98 11.1 10.96 11 63,200 695,186 7.8 7.82 7.85 7.98 7.71 7.8 1,107,600 8,650,347 GMA NETWORK MANILA BULLETIN 0.465 0.49 0.485 0.49 0.485 0.49 550,000 269,300 1,895 1,920 1,877 1,920 1,871 1,920 19,185 36,480,650 GLOBE TELECOM 1,278 1,280 1,289 1,289 1,267 1,280 42,635 54,510,050 PLDT APOLLO GLOBAL 0.211 0.212 0.223 0.224 0.203 0.211 654,310,000 139,530,660 18.4 18.44 18.94 19.18 18.34 18.4 3,802,900 71,036,466 CONVERGE 3.96 4.07 3.92 4.12 3.88 4 3,064,000 12,223,590 DFNN INC DITO CME HLDG 10.02 10.08 10.22 10.24 9.64 10.02 38,117,300 377,391,821 2.22 2.28 2.22 2.28 2.2 2.28 46,000 103,170 JACKSTONES 2.76 2.78 2.9 2.91 2.7 2.78 2,896,000 7,970,450 NOW CORP TRANSPACIFIC BR 0.43 0.435 0.445 0.445 0.42 0.43 12,490,000 5,350,750 2.55 2.59 2.6 2.6 2.52 2.59 412,000 1,053,530 PHILWEB 8.35 8.43 8.3 8.44 8.2 8.3 28,700 239,600 2GO GROUP ASIAN TERMINALS 15.7 15.9 15.9 15.9 15.7 15.7 15,300 241,000 3.02 3.06 3.2 3.22 2.9 3.06 3,761,000 11,480,550 CHELSEA 46.15 46.2 46 48 46 46.15 185,400 8,577,815 CEBU AIR INTL CONTAINER 127.5 128 129.4 129.4 126.9 127.5 983,770 125,569,857 16 16.2 15.36 16 15.36 16 6,300 99,328 LBC EXPRESS 0.99 1.04 1.04 1.04 1.04 1.04 100,000 104,000 LORENZO SHIPPNG MACROASIA 4.7 4.75 4.78 4.8 4.7 4.75 1,259,000 5,956,070 2.29 2.3 2.37 2.37 2.22 2.29 239,000 545,640 METROALLIANCE A 6.02 6.03 6.01 6.05 6.01 6.02 6,400 38,531 PAL HLDG HARBOR STAR 1.19 1.2 1.2 1.24 1.16 1.2 815,000 981,760 1.72 1.88 1.81 1.88 1.69 1.88 121,000 215,000 ACESITE HOTEL BOULEVARD HLDG 0.108 0.109 0.107 0.114 0.105 0.108 789,940,000 86,828,900 DISCOVERY WORLD 3.28 3.3 3.5 3.5 3.25 3.3 270,000 904,230 0.58 0.6 0.6 0.6 0.57 0.6 7,106,000 4,139,700 WATERFRONT IPEOPLE 6.88 7.43 6.87 6.87 6.87 6.87 10,000 68,700 0.37 0.38 0.37 0.37 0.37 0.37 660,000 244,200 STI HLDG 4.6 4.7 4.47 4.7 4.47 4.7 21,000 97,780 BERJAYA BLOOMBERRY 6.4 6.45 6.48 6.48 6.3 6.4 2,898,900 18,532,829 PACIFIC ONLINE 2.05 2.15 2.15 2.17 2.15 2.15 125,000 268,810 1.72 1.78 1.73 1.84 1.72 1.78 1,545,000 2,720,750 LEISURE AND RES MANILA JOCKEY 2.01 2.09 2.02 2.02 2.01 2.01 9,000 18,130 2.1 2.11 2.12 2.12 2.09 2.1 2,578,000 5,413,060 PH RESORTS GRP 0.41 0.42 0.43 0.43 0.41 0.42 2,980,000 1,246,950 PREMIUM LEISURE PHIL RACING 6.1 6.35 6.05 6.2 6.03 6.2 2,200 13,593 7.69 7.7 7.77 7.77 7.7 7.7 127,300 982,034 ALLHOME 1.3 1.31 1.31 1.31 1.3 1.3 294,000 382,350 METRO RETAIL PUREGOLD 36.4 36.9 37 37 36.35 36.9 649,300 23,799,855 ROBINSONS RTL 51.95 52 52.15 52.45 51.95 52 313,440 16,325,600.50 103 105 103 105.5 103 105.5 220 22,875 PHIL SEVEN CORP SSI GROUP 1.19 1.2 1.22 1.22 1.18 1.19 807,000 961,640 WILCON DEPOT 17.22 17.4 17.12 17.38 17.02 17.22 144,800 2,492,214 0.385 0.4 0.4 0.4 0.385 0.4 410,000 159,800 APC GROUP IPM HLDG 5 5.1 4.9 4.9 4.9 4.9 1,000 4,900 2.11 2.12 2.15 2.18 2.01 2.11 26,119,000 54,519,070 PRMIERE HORIZON

6,322,305 -474,550 1,463,590 -14,007,524 -1,236,100 -5,424,442 64,640 -77,700 17,780 -34,481 525,840 2,738,975 -16,882,444 2,451,640 29,510 1,040,550 201,280 -14,161,828 25,840 -547,630 -86,230 -20,750 -71,728 9,100 -7,703,835 -4,050,353.50 0 -16,630 1,302,450 20,000 -333,820

MINING & OIL

ATOK 9.1 9.18 9.26 9.59 9.04 9.1 4,170,000 37,949,420 -27,515,582 APEX MINING 1.61 1.62 1.55 1.62 1.54 1.62 2,117,000 3,352,140 -39,870 8.12 8.13 7.3 8.14 7.3 8.12 7,400,600 57,647,605 -2,859,363 ATLAS MINING 2.92 3.22 3.22 3.27 2.92 3.22 508,000 1,583,840 BENGUET B COAL ASIA HLDG 0.32 0.335 0.335 0.34 0.32 0.335 8,560,000 2,813,000 912,550 2.75 2.85 2.85 2.85 2.85 2.85 41,000 116,850 85,500 CENTURY PEAK 8.1 8.28 8.18 8.28 7.77 8.28 12,700 101,323 DIZON MINES FERRONICKEL 2.55 2.58 2.48 2.56 2.42 2.55 3,726,000 9,270,460 1,171,600 0.355 0.36 0.355 0.355 0.34 0.355 1,640,000 573,950 35,000 GEOGRACE 0.172 0.173 0.165 0.173 0.163 0.172 113,410,000 19,240,290 LEPANTO A LEPANTO B 0.172 0.174 0.165 0.174 0.165 0.174 1,830,000 316,280 0.013 0.015 0.013 0.015 0.012 0.014 1,394,200,000 19,287,800 MANILA MINING A 0.014 0.015 0.013 0.014 0.013 0.014 347,900,000 4,869,900 28,000 MANILA MINING B MARCVENTURES 1.3 1.33 1.28 1.34 1.23 1.33 848,000 1,076,720 -45,010 1.72 1.73 1.78 1.78 1.65 1.73 648,000 1,113,750 NIHAO 5.43 5.44 5.17 5.43 5.17 5.43 5,429,300 29,099,088 -1,736,953 NICKEL ASIA OMICO CORP 0.39 0.405 0.405 0.405 0.4 0.4 40,000 16,100 1.01 1.02 1 1.02 0.96 1.01 1,616,000 1,583,620 ORNTL PENINSULA 5.6 5.62 5.3 5.64 5.28 5.6 6,032,400 33,306,642 -1,107,748 PX MINING SEMIRARA MINING 12.04 12.06 12 12.08 12 12.04 952,400 11,448,302 -1,539,762 0.0098 0.0099 0.01 0.01 0.0095 0.0098 353,400,000 3,481,700 1,960 UNITED PARAGON 19.2 19.42 20.1 20.2 19.1 19.2 211,500 4,085,228 455,770 ACE ENEXOR ORNTL PETROL A 0.012 0.013 0.012 0.013 0.012 0.013 79,300,000 951,700 0.012 0.013 0.013 0.013 0.013 0.013 100,000 1,300 ORNTL PETROL B 0.012 0.013 0.012 0.013 0.012 0.013 34,400,000 419,900 26,400 PHILODRILL PXP ENERGY 7.5 7.59 7.53 7.72 7.5 7.5 427,000 3,220,217 640,645

PREFFERED HOUSE PREF B 100.3 101 101 101 100.3 100.3 630 63,623 100.5 101.5 100.5 100.5 100.5 100.5 19,600 1,969,800 HOUSE PREF A ALCO PREF B 101 115 115 115 115 115 100,000 11,500,000 511 530 530 530 530 530 10 5,300 AC PREF B2R 43.4 43.75 44 44.8 43.1 43.4 45,100 1,974,810 -436,550 CEB PREF DD PREF 100.8 102 102 102 102 102 70 7,140 1,005 1,028 1,002 1,028 1,002 1,002 120 120,370 GTCAP PREF A 1,031 1,048 1,048 1,048 1,048 1,048 1,000 1,048,000 GTCAP PREF B MWIDE PREF 100.7 101.5 101.5 101.5 100.8 100.8 5,210 525,532 101.5 101.7 101.7 101.7 101.7 101.7 15,000 1,525,500 MWIDE PREF 2B 103 104.5 103 104.5 103 104.5 210 21,720 -6,270 PNX PREF 3B PNX PREF 4 999.5 1,000 999.5 999.5 999.5 999.5 100 99,950 1,080 1,118 1,080 1,080 1,080 1,080 4,600 4,968,000 PCOR PREF 3A 79.5 79.8 79 79.8 79 79.5 1,110 88,148 SMC PREF 2C SMC PREF 2E 76.35 76.5 76.5 76.5 76.5 76.5 39,000 2,983,500 78.75 79.3 78.75 78.75 78.75 78.75 80 6,300 SMC PREF 2F 77.25 79.45 77.3 77.5 77.2 77.25 126,700 9,797,010 SMC PREF 2I SMC PREF 2J 77 77.2 76.95 77 76.95 77 155,040 11,937,574.50 77.1 77.15 77.15 77.15 77.1 77.1 854,750 65,943,787.50 - SMC PREF 2K

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 10.52 10.9 10.9 10.9 10.9 10.9 5,000 54,500 7.36 7.38 7.38 7.4 7.35 7.38 435,000 3,208,953 -1,545,204 GMA HLDG PDR

WARRANTS LR WARRANT 1.98 2.04 2.06 2.08 1.85 1.98 3,278,000 6,517,680 19,800

SMALL & MEDIUM ENTERPRISES ALTUS PROP 18.18 18.8 18.3 18.8 17.6 18.8 456,100 8,234,486 1,813,146 2.38 2.42 2.43 2.45 2.38 2.4 334,000 802,240 -16,980 ITALPINAS KEPWEALTH 5.35 5.55 5.39 5.59 5.39 5.55 2,700 14,823 5.08 5.09 5.21 5.3 4.95 5.09 21,864,000 110,866,478 1,180,753 MERRYMART

EXHANGE TRADE FUNDS

FIRST METRO ETF 96.8 97 99.15 99.15 96.7 96.8 19,790 1,924,848.50 -83,654

www.businessmirror.com.ph

SEC allows minority owners to call for special meetings

T

By VG Cabuag

@villygc

he Securities and Exchange Commission (SEC) has approved a new rule that allows minority shareholders in publicly listed companies to call for special stockholders’ meetings.

In its April 22 meeting, the SEC en banc approved the rules on the Calling of Special Stockholders’ Meetings, as embodied in SEC Memorandum Circular No. 7, Series of 2021.

“The newly issued rules empower minority shareholders to better protect and advance their interests, as well as help listed firms have a wider perspective and be more inclusive in their decision-making process,” SEC Chairman Emilio B. Aquino said.

“The greater protection afforded to minority shareholders should encourage increased participation

in the stock market and, in turn, further deepen our capital market to support business expansions, jobs creation and overall economic growth.”

Under the memorandum circular, any number of shareholders holding at least 10 percent of the outstanding capital stock of a listed firm shall have the right to call for a special stockholders’ meeting, subject to the guidelines provided under the Revised Corporation Code of the Philippines and other laws, rules and regulations.

The shareholders should have continuously held the shares for at least 1 year prior to the receipt by the corporate secretary of the written call for special meeting.

The call for special meeting should be in writing, addressed to the company’s board of directors and transmitted through the corporate secretary at least 45 days prior to the proposed date of the meeting.

The written request for the meeting must include the name of the stockholders and their respective percentage of shareholdings, which must constitute at least 10 percent of the outstanding capital stock of the corporation. The letter must be signed by all requesting shareholders.

The request should also provide the purpose, date and time, as well as proposed agenda items for the meeting.

The proposed agenda items should be matters that affect the legitimate interests of the shareholders on corporate actions where stockholders’ approval is required

under the Corporation Code, except the right to remove a director.

A stockholder may not call for a special meeting within 60 days from the previous meeting of the same nature where the same matter was discussed, unless allowed in the bylaws of the corporation or approved by the board.

Also, a special stockholders’ meeting cannot be called if the agenda will be covered in the next regular or special meeting scheduled not later than 30 days from the date of the request or if the agenda has already been discussed and resolved with finality in previous meetings.

Any officer or agent of a corporation who refuses to allow a qualifying shareholder to exercise his or her right to call a meeting shall be made liable under the law, which allows the SEC to impose a fine ranging from P5,000 to P2 million, issue a permanent cease and desist order, suspend a corporation, revoke the corporation’s certificate of incorporation and dissolve the corporation.

SMC plans to operate BRT on Skyway C onglomerate San Miguel Corp. (SMC) on Monday bared plans to operate the country’s first Bus Rapid Transit (BRT) system along Skyway Stage 3 to make commuting for Filipinos faster and more convenient.

The proposed BRT system will utilize the Skyway for buses that will function similar to trains that ferry a large numbers of passengers at a time and stopping only at designated stations at set intervals. It is similar to the point-to-point (P2P) bus system.

The BRT plan is still being studied. It will be soon presented to the Department of Transportation once ready. “We’re very excited to start discussions on this. The most important thing is that the platform is already here—the completed elevated Skyway system—and this BRT or high-capacity P2P system will make commutes faster and better for many Filipinos,” SMC President Ramon Ang said.

As the buses will run on a controlled expressway, Ang said they cannot deviate from their course or stop anywhere. Reliability and predictability of transportation will be higher for commuters.

“While we are looking to implement this on the Skyway system from Susanna Heights to Balintawak, in the future, we can also implement this for our other new projects to

expand the area of coverage. Our expressways are really designed not just for motorists, but also to serve as a platform for efficient and sustainable mass transportation.”

The BRT plan has been on the drawing board since 2017.

With Skyway 3 now in place, SMC is looking to make the elevated BRT system a reality, with the goal of implementing the system from Susanna Heights in Muntinlupa to Balintawak, towards the North Luzon Expressway.

Ang said Skyway 3 and all its expressway projects are designed primarily to divert and take away a significant number of vehicles from major roads such as EDSA and C-5, and even the at-grade section of the Skyway, which has been designated for use by buses. The BRT or highcapacity P2P system was always part of the vision for Skyway 3.

“Lessening the vehicles competing for road space is how elevated expressways ease traffic—as we have seen now on Edsa. This also means improving the daily commutes of Filipinos taking public transportation that use these roads,” Ang said.

“However, our need for efficient transport systems will always be there, so more solutions are required. The Skyway BRT system is one viable solution that is also highly scalable.” Lenie Lectura

Restrictions pull down GERI income in 2020

G

lobal-Estate Resorts Inc. (GERI), a unit of property developer Megaworld Corp., said it posted an income of P1.48 billion for 2020, a 22-percent fall from the previous year’s P1.9 billion, as pandemic-related restrictions slashed its revenues.

Excluding non-recurring gains of P188.5 million in 2019, GERI’s net income in 2020 reached P1.3 billion, a much deeper fall of 25 percent compared to last year’s figure, the company said.

Revenues fell 38 percent to P5.2 billion from the previous year’s P8.45 billion.

Revenues from the company’s leasing operations were down 17 percent to P619 million from the previous year’s P747 million, while the company’s commercial business was also affected due to the pandemic-related restrictions.

Hotel revenues declined 75 percent to P201 million in 2020 from P814 million in the previous year as a result of prevailing travel restrictions.

“Since most of our developments are in the countryside, and the demand is evidently there, we are optimistic that we will recover faster once the economy fully reopens soon,” Monica T. Salomon, the company’s president, said.

“So many people realized that living outside the busy metropolis is a wise decision to make during this time. Even our Alabang West property, which is still within Metro Manila, but already towards Cavite, sold more than a billion [pesos] worth of lots in the middle of the lockdown.

Demand for our residential properties in the provincial areas certainly boosted our revenues, offsetting the downtrend of our leasing businesses, which, just like our peers in the industry, have been affected by this pandemic.”

The company said it sold residential projects worth almost P12 billion in its various developments in Boracay, Antipolo, Cavite, Laguna and Batangas. VG Cabuag

mutual funds

April 26, 2021

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 205.41 11.1% -7.44% -4.11% -9.6% ATRAM Alpha Opportunity Fund, Inc. -a 1.2642 33.19% -6.44% 0.95% -3.72% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.8171 13.99% -11.79% -6.35% -10.08% Climbs Share Capital Equity Investment Fund Corp. -a 0.7228 13.42% -7.36% n.a. -10.09% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6757 3.7% -6.5% n.a.

-8.89% First Metro Save and Learn Equity Fund,Inc. -a 4.5196 12.65% -4.85% -3.04% -8.53% 3.57% First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.6477 -8.98% -7.83% -14.75% MBG Equity Investment Fund, Inc. -a 96.51 28.92% -5.55% n.a.

-5.33% PAMI Equity Index Fund, Inc. -a 42.0242 13.66% -5.48% -2.92% -10.3% Philam Strategic Growth Fund, Inc. -a 441.78 11.29% -5.45% -3.36% -9.65% Philequity Alpha One Fund, Inc. -a,d,5 1.0092 21.2% n.a. n.a.

-8.03% Philequity Dividend Yield Fund, Inc. -a 1.0818 14.27% -4.81% -2.17% -7.4% Philequity Fund, Inc. -a 31.5942 13.7% -5.06% -1.9% -9.13% Philequity MSCI Philippine Index Fund, Inc. -a 0.8184 12.12% n.a. n.a. -10.36% Philequity PSE Index Fund Inc. -a 4.3052 14.34% -5.01% -2.17% -10.14% 720.04 14.42% -4.91% -2.32% -10.18% Philippine Stock Index Fund Corp. -a Soldivo Strategic Growth Fund, Inc. -a 0.6534 14.15% -9.13% -5.68% -9.11% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.2671 10.79% -7.11% -3.65% -9.84% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8225 13.84% -5.27% -2.45% -10.37% United Fund, Inc. -a 3.0362 13.25% -4.61% -1.09% -8.52% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 96.6096 14.46% -4.71% -1.65% -10.18% Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b $1.2622 43.42% 5.04% 8.24% 4.93% Sun Life Prosperity World Voyager Fund, Inc. -a $1.7554 46.04% 11.25% n.a.

4.94% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.6197 9.08% -1.48% -1.46% -2.93% ATRAM Philippine Balanced Fund, Inc. -a 2.137 10.17% -2.27% -0.82% -6.49% First Metro Save and Learn Balanced Fund Inc. -a 2.4801 7.75% -0.82% -1.48% -5.59% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1865 2.47% n.a. n.a. -6.09% NCM Mutual Fund of the Phils., Inc. -a 1.8821 5.86% 0.64% 0.44% -4.17% PAMI Horizon Fund, Inc. -a 3.5169 7.46% -0.71% -0.83% -7.16% Philam Fund, Inc. -a 15.7653 7.62% -0.62% -0.85% -6.92% Solidaritas Fund, Inc. -a 1.9706 7.93% -1.84% -0.68% -5.9% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.3397 7.49% -3.15% -1.95% -6.53% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9536 7.74% n.a. n.a.

-6.75% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.8539 9.33% n.a. n.a. -10.04% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.8369 10.18% n.a. n.a. -10.31% Sun Life Prosperity Dynamic Fund, Inc. -a 0.8236 8.55% -4.2% -2.57% -7.22% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03818 1.06% 2.92% 1.38% -2.4% PAMI Asia Balanced Fund, Inc. -b $1.1421 25.6% 2.83% 4.94% -0.7% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.6696 33.12% 8.45% 8.46% 3.47% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.2062 17.47% 4.45% n.a.

0.34% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 370.33 2.42% 3.07% 2.52% -0.2% ATRAM Corporate Bond Fund, Inc. -a 1.911 -0.79% 0.78% 0.19% 0.56% Cocolife Fixed Income Fund, Inc. -a 3.2206 1.8% 3.96% 4.46% 0.18% Ekklesia Mutual Fund Inc. -a 2.2555 -0.08% 2.27% 1.57% -1.76% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.431 1.32% 3.18% 1.72% -0.9% Philam Bond Fund, Inc. -a 4.46 0.26% 4.09% 1.79% -3.77% Philam Managed Income Fund, Inc. -a,6 1.3187 3.83% 4.24% 2.7% -0.19% Philequity Peso Bond Fund, Inc. -a 3.959 3.07% 4.24% 2.5% -1.05% Soldivo Bond Fund, Inc. -a 1.0268 1.87% 4.27% 1.96% -1.46% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1825 2.55% 4.86% 2.76% -0.73% Sun Life Prosperity GS Fund, Inc. -a

1.7364 1.16% 4.15% 2.09% -1.06% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $483.52 3.52% 3.07% 2.33% -0.07% ALFM Euro Bond Fund, Inc. -a Є219.86 2.99% 1.09% 1.18% 0.31% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.1775 0.41% 1.82% 1.14% -8.04% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0259 0.78% 1.59% 0.95% -2.63% PAMI Global Bond Fund, Inc -b $1.0583 1.41% 0.76% -0.45% -3.15% Philam Dollar Bond Fund, Inc. -a $2.4853 4.48% 4.87% 2.13% -1.98% Philequity Dollar Income Fund Inc. -a $0.062662 5.36% 3.43% 2.19% 0.55% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1433 0.05% 2.68% 1% -2.49% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 129.95 2.14% 3.15% 2.52% 0.11% First Metro Save and Learn Money Market Fund, Inc. -a 1.0505 1.38% n.a. n.a.

0.23% Sun Life Prosperity Money Market Fund, Inc. -a 1.3021 1.99% 2.88% 2.57% 0.42% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0558 1.43% 1.72% n.a.

0.32% Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 1.2353 n.a. n.a. n.a. 9.36% Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $1 11.11% n.a. n.a.

2.04%

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

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

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

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

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

www.businessmirror.com.ph

Banking&Finance BusinessMirror

Safe-haven assets still bringing funds to govt

By Bernadette D. Nicolas @BNicolasBM

T

HE Bureau of the Treasury borrowed P25 billion from the local debt market on Monday as investors continue to flock to safehaven assets.

The government fully awarded P25 billion in Treasury Bills (T-bills) during the auction, which attracted total bids amounting to P71.6 billion, almost thrice the offering.

To take advantage of strong demand, the Treasury also opened the tap facility for an additional P5billion offering for 364-day T-bills.

Rates once again ended up mixed during the primary auction.

Following the auction National Treasurer Rosalia V. De Leon said there was “robust liquidity with P70 billion in maturities this week to be recycled with preference for safe assets.”

The 91-day T-bill fetched a higher average rate of 1.369 percent, up by 2 basis points (bps) from 1.349 percent in the previous auction. Total bids for the security reached P15.38 billion, thrice the P5-billion offer.

Meanwhile, the 182-day T-bill’s average rate stood at 1.714 percent, nearly flat compared to 1.713 percent

previously. Tenders for the tenor also hit P26.25 billion, more than thrice the P8-billion offer.

The 364-day T-bill settled at an average rate of 1.88 percent, slightly lower by 0.4 basis point compared to the previous auction’s 1.884 percent.

The security had P29.98 billion in total bids, more than twice the P12billion offer.

Despite the drop in 364-day Tbills’ average rate, De Leon said this was still aligned with the rate in the secondary market, adding that “rates [are] tracking USTs [US Treasuries], which have been creeping down.”

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

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

The national government’s outstanding debt as of end-February this year soared to a new record high of P10.406 trillion as the government continued to borrow more money as lockdown measures against the pandemic has impacted the economy.

Tuesday, April 27, 2021 B3

A bank account for every household seen via Natl ID

T

By Cai U. Ordinario

@caiordinario

HROUGH the National ID, every Filipino household could already have at least one bank account by the end of this year, according to the National Economic and Development Authority (Neda).

In a presentation at a government-organized event on Monday, Socioeconomic Planning Secretary Karl Kendrick T. Chua said Step 2 of the registration for the National ID or PhilSys already gives registrants the opportunity to open an account with the Land Bank of the Philippines (Landbank).

Chua said that of the 4.4 million Filipinos who have completed the second step of the registration, around 1.8 million of them already opened Landbank accounts on the spot.

“Our target by the end of the year is for every family, there must be one

bank account,” Chua said on Monday. “Every time a Filipino registers for Step 2 in the registration center, there is a LandBank desk where the person can automatically open a bank account on the spot.”

This is one of the three use-cases for the National ID. Chua said the other use-cases include Covd-19 vaccine administration and social protection subsidies.

Chua said the registry for the Philippine Identification System (PhilSys) can be used to make the distribution of COVID-19 vaccines to the general population more efficient.

The registry, the Neda Secretary said, can also be used for the distribution of social protection subsidies such as the Social Amelioration program (SAP).

“To have a more targeted way of giving social protection subsidies such as the present social amelioration program so that the amount goes directly to the bank account (of beneficiaries) and minimize leakages,” Chua said.

As of April 17, Chua said a total of 30.74 million Filipinos were able to complete Step 1 registration. This represented 104.6 percent of the target between October 2020 and April 30 this year.

Step 1 is the house-to-house or online collection of demographic data and setting of appointment schedule.

Chua said this step will be opened to the public by April 30 through an online portal.

Chua said Step-2 registration is taking longer because registrants need to proceed to registration centers to provide their biometric information such as fingerprints and iris scans.

“Step 2 is slower because people

have to go to the registration center, fall in line because they have already given their demographics, it is not a long wait,” Chua said.

“We are also doing this in a very calibrated gradual and safe approach so that we will not be spreading the virus in the registration center,” he added.

Earlier, the pandemic and the delay in the release of un-programmed funds from the Department of Budget and Management are among the major challenges of the Philippine Statistics Authority (PSA) in meeting the targets for the National ID this year.

PSA Assistant Secretary Rosalinda P. Bautista told the BusinessMirror over the weekend that in terms of implementing the Step-2 registration, the rising cases have prompted the agency to close registration centers.

The un-programmed funds, meanwhile, would be used in Step 3 of the PhilSys, which involves the printing of cards. Bautista said the PSA and Central Bank are discussing the possibility of printing more than 160,000 cards per day starting next month.

Managing finances this pandemic Lawmakers to agencies: Enforce Train’s tax provisions

A

S we continuously face the spread of Covid-19 globally, we are all affected in our financial, professional and social environments.

This health crisis also resulted to economic challenges with growing repercussions. A lot of organizations shut down their operations because of the effect of community quarantine to control the further spread of the virus.

Financial knowledge can help us better manage our finances through times of hardship and even in prosperity. Here are some of the ways on how we can maximize what we have at this season.

1. Assess your current situation.

Sit down with your spouse or family members and list down your current cash flow: “What are the things that we need to prioritize and the things that we can set aside as of the moment?”

Knowing your situation will help you in navigating the journey. it’s like when we are travelling; before arriving in our destination, we need to take note of the route that we will take.

Maybe your goal right now is to get out of debt because of a lost job or it could be to re-build your emergency fund as you recover from unforeseen expenses. Having a “bayanihan” spirit at home will boost you and me in taking small progress.

2. Create a budget. After evaluating what you have and listing down your priorities, it is good to stick to a budget. A budget plan can help us have wise decisions.

Even though we are facing an economic challenge, we might be unaware of the holes in our boat. Small expenses that are not essentials can make an impact to your monthly, quarterly or even annual budget.

What if you can save from your prepaid plan of around P2,000 per month, will that be a good amount to build a fund for your savings and/or insurances?

3. Rebuild your savings. Many, if not all, of us might have decrease in our savings because of unforeseen cut in your salary or your business was affected by the quarantine measures.

Once you regain back your income, it is wise to set aside again a portion of your income so you can rebuild your emergency fund. This will give us back the liquidity that we need in times of need like this season.

4. Check government initiatives. As an entrepreneur or employee, we can still check the opportunities being rolled out by the government.

Last year, the government launched programs that allowed small-scale and medium-scale enterprises to avail loans that provide low interest rates.

This can help you recover from where you are now. Just make sure to use the loan in your advantage to regain your profit and steadily grow your business.

5. Identify alternative sources of income. According to statistics given

By Jovee Marie N. dela Cruz @joveemarie

Karlo Biglang-Awa

personal finance by the Department of Trade and Industry, “amidst the pandemic, there are still many opportunities we can find and discover. In fact, now the pandemic in 2020, the newly-registered businesses increased to 900,000 as of December 17, 2020. That is the highest growth rate of 41 percent since 2010,” Lopez said in mixed English and Filipino.

If you are currently employed, why not try monetizing your skills such as baking, cooking meals, doing webinars to teach about your subject matter expert. I have seen a lot of my friends became Entrepreneurs at this season, this allowed them to have extra cash to boost their income. This way we can be more productive to contribute also in our economy.

If you are a business owner, you need to start adapting to technologies and pivoting your current set-up. There are a lot of restaurants that started their operations for take-out deliveries of orders. This way, they can still cater customers even though the dine-in is limited.

For some real estate developers, they are converting some of their office spaces outside the metropolis to become warehouses since online shopping of items is currently in demand, the need for storages of goods increased.

6. Seek help from family members or friends. If you are having a hard time figuring out what to do, always look for people whom can extend their help. It could be a financial need because of surge in expenses due to medical related circumstances. As we can see, the cases of Covid-19 are still increasing and there are situations wherein our resources can be constraint by the hospital expenses if in case someone in the family acquired the said virus.

As a nation, we are fighting this pandemic as one, unity is essential for us to be victorious. Always remember that each of us has a role to play, this is not the time to pin point fingers and blame people.

I believe this is a season for us to help one another, pray together and contribute in the best way we can. No matter how simple your job is right now, it is part of the bigger picture as we recover and gain back the life that we are all hoping for.

Karlo Biglang-awa is a registered financial planner of RFP Philippines. To learn more about personalfinancial planning, attend the 89th RFP program this May 2021. To inquire, e-mail info@rfp.ph or text at 0917-6248110.

T

O curb smuggling and tax evasion, the House Committee on Ways and Means has directed implementing agencies to strictly enforce excise taxes under Republic Act 10963 or the Tax Reform for Acceleration and Inclusion law.

The committee chaired by Albay Rep. Joey Sarte Salceda approved on Monday the committee report on House Resolution 227 that directed the panel to determine the challenges in implementing the excise tax on sweetened beverages and assess the accomplishment of the legislative intent on earmarking of funds to sugar farmers.

Salceda said during its investigation, the committee found a significant deficit in the target tax revenues primarily due to an industry shift

from the use of high-fructose corn syrup (HFCS). However, he said verifying the shift cannot be ascertained due to lapses in tax administration and implementation.

Also, Salceda said the investigation also discovered that allocated tax revenues to fund programs for sugarcane farmers under the Sugarcane Industry Development Act (SIDA) was not properly implemented with the Department of Budget and Management citing the low absorptive capacity or capacity to use public funds of the Sugar Regulatory Administration (SRA) as a critical factor.

“Because this is no time to raise new consumption taxes, we should catch those who escape current taxes so that we can fund our Covid-19 response,” he said.

“When we were raising new excise taxes from 2017 to 2019, we were

told to just strengthen tax enforcement instead of passing new taxes. I said, we can do both,” Salceda added.

“The new taxes are here. It’s time to strengthen enforcement.”

The excise tax on sweetened beverages took effect on January 1, 2018 as mandated by RA 10963.

To improve revenue collection and administration, the committee has recommended the following: auditing the implementation of the sweetened beverage excise tax; validation of Bureau of Internal Revenue beverage product registration and exemption; the creation of a database of accurate import statistics of HFCS; and, improvement of Food and Drug Administration product testing and implement FDA’s postmarketing surveillance.

The panel also said the FDA’s mandate should also be amended to include the evaluation of products.

The committee also wants improvements in the absorptive capacity of the SRA to deliver programs to develop the sugar industry.

It also mandated concerned agencies including the FDA, the SRA, the Department of Finance and the Bureau of Customs to submit periodic status reports to the committee for proper monitoring of deliverables.

The committee said its investigation resulted in FDA’s fast-tracking of the procurement of High-Performance Liquid Chromatography equipment to increase its capability to verify manufacturers’ claims on sweetener content of products subject to the SB excise tax.

“Our efforts to work with implementing agencies are already bearing fruit,” Salceda said. “Now, the FDA is procuring new machines to verify sugar content in response to our Committee’s pressure.”

BPI AMTC announces new investment funds

T BANK ALLIANCE This January 14, 2016, photo courtesy of Security Bank Corp. shows SBC Chairman Alberto S. Villarosa, SBC Chairman Emeritus Frederick Y. Dy and MUFG Bank of Japan Managing Executive Officer and CEO for Asia and Oceania Go Watanabe during ceremonies marking MUFG’s acquisition of a 20-percent stake in SBC for P36.9 billion. SBC said that since then, “the two lenders have capitalized on its partnership by bringing top-notch products and services to customers while enjoying the benefits of continued innovation in financial services.”

PNB execs OK issuing property dividends

T

HE Philippine National Bank (PNB) announced on Monday that its board approved the issuance of property dividends to its stockholders starting next month.

In a disclosure to the Philippine Stock Exchange (PSE) last April 23, the bank said its board approved the declaration of shares of PNB Holdings Corp. as property dividends to its stockholders on record effective May 18 this year. Property dividends occur when a company declares and distributes assets other than cash, such as shares of stocks in a company’s subsidiary or affiliate or tangible products of the company.

The investment into PNB Holdings and the dividend declaration are two important phases of the bank’s strategic initiative to recognize the value of its three major properties: the PNB Financial Center in Pasay, PNB Makati Center in Ayala’s Central Business District, and the Prime Property at the cor-

ner of Buendia Avenue and Paseo De Roxas, also in Makati. “The timing of the development of these properties are already being studied by the real estate experts, who are already working closely with PNB Holdings Corp. and PNB,” PNB President and CEO Jose Arnulfo A. Veloso said.

“The distribution of PNB Holdings shares through the dividend declaration allows PNB stockholders to share from the benefit of the realized values of the properties and any future valuation gains,” Veloso added.

Earlier this year, PNB obtained regulatory approval to make additional investments in PNB Holdings in exchange for certain properties of the bank.

The bank also said it is pursuing plans to reduce its low-earning assets to build up its financial position. PNB Holdings increased its authorized capital stock to reflect the value of the three prime properties.

Bianca Cuaresma

HE Bank of the Philippine Islands (BPI) Asset Management and Trust Corp.

(AMTC) launched two new investment vehicles that will allow its Filipino customers access to global healthcare and technology companies.

BPI AMTC said the rationale behind two new global investments funds—BPI Invest Global Health Care Feeder Fund and the BPI Invest World Technology Feeder Fund—is to let Filipinos invest in the two sectors, which have performed resiliently amid the Covid-19 pandemic.

“Our new BPI Invest funds seek to better position investors for future rebound by providing access to investment themes currently in the spotlight,” BPI AMTC President Sheila Marie U. Tan said.

“With the health care sector leading our battle against Covid-19 and the technology sector providing support as we adapt to the new normal, investors of these funds are able to capitalize on growth opportunities ahead,” she added.

BPI Invest Global Health Care Feeder Fund invests at least 90 percent of its assets in a target fund, the Wellington Global

Health Care Equity Fund. Among the companies in the portfolio of this feeder fund include Pfizer Inc. and AstraZeneca Plc., two major producers of Covid-19 vaccines and other widely used pharmaceuticals.

The fund portfolio also features global manufacturers of medical devices such as Boston Scientific, and renowned healthcare companies such as UnitedHealth Group.

Meanwhile, the BPI Invest World Technology Feeder Fund is BPI AMTC’s first technologyfocused fund that invests in today’s leaders and tomorrow’s winners in the technology space. Its February 2021 portfolio includes household tech names such as Apple, Microsoft, Tesla, Amazon, and PayPal. As a feeder fund, BPI Invest World Technology Feeder Fund allocates at least 90 percent of its assets in BlackRock’s World Technology Fund. BlackRock is the world’s largest asset manager as of January 2021, with over $8 trillion assets under management.

BPI said investment in the new funds start at $1,000 and additional investments can be done in increments of $500. The new funds have no holding period.

Bianca Cuaresma

B4

Tuesday, April 27, 2021 • Editor: Gerard S. Ramos

Art

BusinessMirror

www.businessmirror.com.ph

Relics seized from smugglers are returning to Afghanistan Afghan Ambassador to the US Roya Rahmani, accompanied by embassy staff, speaks as she gives the Associated Press a tour at the Afghanistan Embassy in Washington on April 21, of looted and stolen Afghan religious relics and antiquities recovered

by US government authorities as part of a wider investigation into global trafficking in rare and ancient artifacts. AP

W

By Ben Fox The Associated Press

CELEBRITIES BORN ON THIS DAY: Jenna-Louise Coleman, 35; William Moseley, 33; Ari Graynor, 38; Ingrid Rogers, 53.

a

ARIES (March 21-April 19): Take care of your responsibilities before someone reminds you to.

Dig in and get something done that makes you proud and fulfilled. Don’t get angry over something you cannot change. HHH

b

TAURUS (April 20-May 20): Address issues that can hold you back or cost you emotionally, mentally or physically. Set high standards and work hard, and you’ll gain the respect of those you live or work alongside. Add a personal touch to whatever you pursue. HHH

c

GEMINI (May 21-June 20): Ponder what’s possible. Check out what’s required to move forward with something you want to pursue.

Show discipline and patience when dealing with people you find challenging. Leave nothing to chance or incomplete. Don’t count on anyone but yourself. HHH

d

CANCER (June 21-July 22): Say no to a joint venture. Use your skills and knowledge to your advantage. You can make a difference if you take a leadership position. Take control, and you’ll get the results you desire. HHHHH

allowing al-Qaida to operate from Afghanistan.

Before the September 11 attacks, the Taliban had already become internationally notorious for enforcing a harsh form of Islamic law that kept women out of public view and for destroying—with rockets, shells and dynamite—the famed giant, sixth century sandstone Buddha statues built into a cliff in Bamiyan province. The destruction of the statues was on the ambassador’s mind as she prepared to ship the artifacts to her homeland, not only because a mural of the sandstone Buddhas adorns the room at the embassy where visitors gathered this week to see the relics.

Rahmani, her country’s first female ambassador to the United States, recalls that she wept when she first learned what the Taliban had done to the Buddhas. It was an important moment, she says, because she had pledged never to let anyone see her cry as a way to defy the male-dominated culture of her homeland.

“I broke my vow,” she said. “I really cried hard. I wept and wept.”

In contrast, the items are “returning to a government and people who cherish their past”

and will make sure they are preserved for future generations, Rahmani said. She doesn’t expect the Taliban, if they return to power, would dare to destroy them.

“Our security forces and our government would not let that happen,” she said. “We are determined not to let that happen.”

Like the statues, some of the recovered antiquities depict Buddha. There’s also a marble statue of Shiva and a Greek mask. The artifacts reflect the multicultural influences on Afghanistan, an important center of trade and commerce, according to Fredrik Hiebert, an archaeologist and National Geographic Fellow who studies the country.

There are at least 2,600 archaeological sites around the country, said Hiebert, who helped authenticate some of the items after they had been confiscated by federal agents and discuss the relics at a gathering on Tuesday at the embassy.

“Afghanistan is one of the richest countries in archaeology and history in the world,” he said. And there’s very good reason, of course. For 6,000 years there’s been civilization based in Afghanistan.” n

Castrillo brass sculptures showcased THE works of Ronald Castrillo, one of the most acclaimed sculptors of his generation, were featured recently and are for sale exclusively at Newport Mall, Resorts World Manila.

The 56-year-old Pinoy sculpting pioneer has been creating art since the age of 10, as influenced by his father Amado Castrillo, a well-regarded writer, illustrator and sculptor. Ronald then went on to graduate from the PATTS School of Aeronautics, with a degree in Aeronautical Engineering Major in Aircraft Design. With his technical know-how and a passion for the craft that began at a very young age, he has become a master at combining his “artistic process and technical knowledge to create unrivaled sculptures and pieces of art.”

Ronald’s recent exhibit Arts by the Garden at Newport Mall featured his newest collection that consisted of 13 one-of-a-kind pieces. The exhibit was

By Eugenia Last

z

Happy Birthday: Control will be an issue when it comes to partnerships, loyalty and sorting through your differences. Stick to the rules; take good care of yourself and those you love. Go above and beyond the call of duty to get things done right and on time. Progress will unfold if you are willing to put your all into whatever you pursue. Your numbers are 9, 12, 16, 23, 32, 45, 48.

ASHINGTON—Precious relics of Afghanistan’s ancient past are returning home as the nation confronts deepening uncertainty

about its future.

A collection of 33 artifacts seized from a New York-based art dealer who authorities say was one of the world’s most prolific smugglers of antiquities was turned over by the US to the government of Afghanistan this week.

“The significance of the material is huge,” Roya Rahmani, the country’s ambassador to the US, said Wednesday. “Each one of these pieces are priceless depictions of our history.”

Rahmani formally took control of the collection in a ceremony Monday in New York with the Manhattan District Attorney’s office and Homeland Security Investigations, which recovered the artifacts as part of a larger investigation into the trafficking of antiquities from a number of countries.

Now, after briefly being displayed at the embassy in Washington, the masks, sculptures and other items, some from the second and third centuries, are en route to Kabul, where they are expected to go on display at the National Museum.

It’s the same museum where members of the Taliban destroyed artifacts in 2001 as part of a cultural rampage rooted in a fundamentalist version of Islam in which depictions of the human form are considered offensive.

The Taliban is now out of power. But it controls much of the country outside of Kabul amid stalled talks with the government and the looming withdrawal of US and NATO forces after two decades of war. Rahmani concedes it’s a delicate time.

“However, what I know is that our security forces are determined to defend our people,” she said in an interview with The Associated Press. “The government is committed to do its part for peace and stability in a way that would bring durable peace.”

They may get a chance earlier than expected.

Germany’s Defense Ministry said Wednesday that discussions are underway among military planners with the NATO-led Resolute Support Mission in Kabul for a possible withdrawal of international troops from Afghanistan as early as July 4.

President Joe Biden has already said the US would remove all its troops by September 11, the 20th anniversary of the attacks that prompted the American invasion to dislodge the Taliban in 2001 for

Today’s Horoscope

e

LEO (July 23-Aug. 22): Show discipline, stick to your plan, and say no to temptation, excessiveness and overspending. Stop worrying about what others do, and concentrate on what you are doing. Partnership problems will arise if you let your emotions interfere with how you behave.

HH

f

VIRGO (Aug. 23-Sept. 22): Learn from the best, follow through with your plans and don’t be afraid to do things your way. Take a unique approach. Opportunities to use your skills diversely and to connect with people who share your sentiments will unfold. HHHH

g

LIBRA (Sept. 23-Oct. 22): Refuse to let your emotions interfere with your financial matters.

Live up to your promises, take care of your personal and professional responsibilities, and aim to stabilize your life. Avoid getting involved in joint ventures or agreeing to share expenses. HHH

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SCORPIO (Oct. 23-Nov. 21): Concentrate on what you are trying to achieve. Take the path that leads to personal growth and a change of scenery. Focus on decluttering your life and letting go of situations holding you back or limiting your freedom. HHH

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SAGITTARIUS (Nov. 22-Dec. 21): Keep life simple, be moderate and avoid letting others dictate what you can do. Spend more time at home altering your space to accommodate what you want to do next. HHH

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CAPRICORN (Dec. 22-Jan. 19): You’ve got what it takes to excel. Put your energy where it counts, and don’t stop until you reach your destination.

Look at obscure propositions and adjust them to fit into your lifestyle and dreams. HHHH

followed by a show, titled Shaping Wonders & Dreams, featuring the works of Karen Castrillo-Villaseñor, Ronald’s daughter. The exhibit spotlighted unique collaboration pieces between father and daughter.

Karen, who grew up “to the sound of sander and brass hammering” every morning has always been his father’s protege. She said, “As his eldest, I’ve become his partner in his art journey and officially worked with him in 2014. Exploring new ideas to share more of his passion in the arts, I started helping him with new concepts.”

An accomplished artist herself, Karen incorporated the use of copper, healing crystals, and gems to his father’s classic brass sculptures. For her, the fusion of the contrasting materials makes the masterpieces “extraordinary.”

More information can be found at www.facebook. com/NewportMall or www.megaworld-lifestylemalls.com.

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AQUARIUS (Jan. 20-Feb. 18): Dealing with a friend, colleague or relative will be difficult.

Give others the freedom to do as they please, and redirect your energy into something that will benefit you personally. Fitness, health and personal growth are in your best interest. HH

l

PISCES (Feb. 19-March 20): Invest time and money in your surroundings, skills and plans to get ahead. A change in direction will be rejuvenating and give you something to embrace.

Follow your heart, and take the initiative to make your dreams come true. Romance is favored. HHHHH Birthday Baby: You are intense, disciplined and complex.

You are intuitive and possessive.

‘inner beauty’ by sally hoelscher and brooke husic The Universal Crossword/Edited by David Steinberg

ACROSS 1 Woe for a streamer 4 Sign of a Realtor’s success?

8 Ancient Andeans 13 Yours and mine 15 “With this ring I ___ wed” 16 Tennis star/activist Osaka 17 Write to 19 On better behavior, to Santa 20 See 10-Down 21 Drain of energy 22 Solo 23 Card-guessing ability, for short 24 Issa of The Lovebirds 26 2019 film with “digital fur technology” 28 Gets a head start on the day 33 Hagia ___ (Istanbul mosque) 36 Colorado people 37 Stead 38 Work, as dough 39 Malia, to Sasha, briefly 40 Try to get 41 Law & Order: SVU costar 42 Word before “pal” or “name” 43 Apt-sounding name for a sincere person?

44 Philanthropist who wrote The Moment of Lift 47 Fly high 48 ___ Bo 49 Tarnish 52 Ice cream drinks 55 Budget exec 57 “Level Up” singer 59 Honolulu greeting 60 Description in many a travel guide, and a hint to a word concealed in 17-, 28- and 44-Across 62 Busy month for CPAs 63 Little whirlpool 64 Point value of EIGHT in Scrabble 65 Like sweaty palms 66 Prescription amount 67 White Claw or Schweppes container DOWN 1 File, as a complaint 2 Intangible vibes 3 Pool together 4 City in eastern Mo. 5 “Ah, understood” 6 Emmy winner Waithe 7 Singer’s lesser-known songs

8 Inherent 9 Places to get manicures 10 With 20-Across, tennis star/activist who upset Venus Williams at age 15 11 “Well said!”

12 Father, as a horse 14 Beach lotion initials 18 Scared 25 Letters before an alias 27 “Great” animal 28 “Could you please explain?!”

29 Seeking damages 30 Teeming 31 Many August babies 32 Round dwelling 33 Look over quickly 34 “___ is enough” 35 Bananagrams shout 39 Googled, say 40 Mykonos’ country 42 Kissing on the sidewalk, e.g., briefly 43 Lyft info 45 Margarita option 46 Disagreeing 49 Sorceress’s specialty 50 Amway Center, for one

51 Noodle soup that might be topped with an egg 52 Polite address 53 Iams competitior 54 Model Harvey 56 Generic dog name 58 Holiday ___ 61 Henna, for instance Solution to Friday’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

Editor: Gerard S. Ramos

• Tuesday, April 27, 2021

B5

Daniel Kaluuya, winner of the award for best actor in a supporting role for Judas and the Black Messiah.

Chloe Zhao accepts the award for best director for Nomadland. PHOTOS: AP

Youn Yuh-jung, winner of the award for best actress in a supporting role for Minari.

‘Nomadland’ wins best picture at a social distanced Oscars C

By Jake Coyle The Associated Press

hloe Zhao’s Nomadland, a wistful portrait of itinerant lives on open roads across the American West, won best picture Sunday at the 93rd Academy Awards, where the China-born Zhao also became just the second woman to win best director, and the first woman of color.

The Nomadland victory, while widely expected, nevertheless capped the extraordinary rise of Zhao, a lyrical filmmaker whose winning film is just her third, and which—with a budget less than $5 million and featuring a cast populated by non-professional actors—ranks as one of the most modest-sized movies to win Hollywood’s top honor. Zhao’s next film, Marvel’s Eternals, has a budget approximately 40 times that of Nomadland. Only Kathryn Bigelow, 11 years ago for The Hurt Locker, had previously won best director.

But Nomadland, as a plain-spoken meditation on solitude, grief and grit, stuck a chord in a pandemicravaged year. It made for an unlikely Oscar champ: a film about people who gravitate to the margins took center stage.

“I have always found goodness in the people I’ve met everywhere I went in the world,” said Zhao when accepting best director. “This is for anyone who has the faith and the courage to hold on to the goodness in themselves and to hold on the goodness in other no matter how difficult it is to do that.”

With a howl, Nomadland star Frances McDormand implored people to seek out her film and others on the big screen. Released by the Disney-owned Searchlight Pictures, Nomadland premiered at a drive in and debuted in theaters, but found its largest audience on Hulu. “Please watch our movie on the largest screen possible and one day very, very soon, take everyone you know into a theater, shoulder to shoulder in that dark space, and watch every film that’s represented

here tonight,” McDormand said.

Soon after, McDormand won best actress, too.

The win puts McDormand (previously a winner for Fargo and Three Billboards Outside Ebbing, Missouri) in rare company as a three-time acting winner. Only Katherine Hepburn (a four-time winner) has won best actress more times.

In the night’s biggest surprise, best actor went to Anthony Hopkins for the dementia drama The Father. The award had been widely expected to go to Chadwick Boseman for his final performance in Ma Rainey’s Black Bottom. Hopkins was not in attendance.

The most ambitious award show held during the pandemic, the Oscars rolled out a red carpet and restored some glamour to the nearly century-old movie institution, but with a much transformed— and in some ways downsized—telecast. It was a year when, to paraphrase Norma Desmond, the pictures got smaller were overwhelmingly seen in the home, not in the big screen, during a pandemic year that forced theaters close and prompted radical change in Hollywood.

It was also perhaps the diverse Academy Awards ever, with more women and more actors of color nominated than ever before—and Sunday brought a litany of records and firsts across many categories, spanning everything from hairstyling to composing to acting. It was, some observers said, a sea change for an awards harshly criticized as “OscarsSoWhite” in recent years, leading the film academy to greatly expand membership.

The ceremony—fashioned as a movie of its own and styled as a laidback party—kicked off with opening credits and a slinky Regina King entrance, as the camera followed the actress and One Night in Miami director in one take as she strode with an Oscar in hand into Los Angeles’s Union Station and onto the stage. Inside the transit hub (trains kept running), nominees sat at cozy, lamp-lit tables around an

intimate amphitheater. Some moments—like Glenn Close getting down to “Da Butt”—were more relaxed, but the ceremony couldn’t just shake off the past 14 months.

“It has been quite a year and we are still smack dab in the middle of it,” King said.

Daniel Kaluuya won best supporting actor for Judas and the Black Messiah. The win for the 32-yearold British actor who was previously nominated for Get Out, was widely expected. Kaluuya won for his fiery performance as the Black Panther leader Fred Hampton, whom Kaluuya thanked for showing him “how to love myself.”

With the awards capping a year of national reckoning on race and coming days after Minneapolis police officer Derek Chauvin was convicted for killing George Floyd, police brutality was on the minds of many attendees. King said that if the verdict had been different, she might have traded her heels for marching boots.

Travon Free, codirector of the live-action short winner Two Perfect Strangers, wore a suit jacket lined with the names of those killed by police. His film dramatizes police brutality as an inescapable time loop like a tragic Groundhog’s Day for Black Americans.

Best supporting actress went to Yuh-Jung Youn for the matriarch of Lee Isaac Chung’s tender KoreanAmerican family drama Minari. The 72-year-old Youn, a well-known actress in her native South Korea, is the first Asian actress to win an Oscar since 1957 and the second in history. She accepted the award from Brad Pitt, an executive producer on Minari. “Mr. Brad Pitt, finally,” said Youn. “Nice to meet you.”

The night’s first award went to Emerald Fennell, the writer-director of the provocative revenge thriller Promising Young Woman, for best screenplay. Fennell, winning for her feature debut, is the first woman win solo in the category since Diablo Cody (Juno) in 2007.

The broadcast instantly looked different. It’s being

shot in 24 frames-per-second and in more widescreen format. In a more intimate show without an audience beyond nominees, winners were given wider latitude in their speeches.

The telecast, produced by a team led by filmmaker Steven Soderbergh, moved out of the awards’ usual home, the Dolby Theatre, for Union Station. With Zoom ruled out for nominees, the telecast included satellite feeds from around the world. Performances of the song nominees were pretaped and aired during the preshow. “Husavik [My Hometown]” from Eurovision Song Contest: The Story of Fire Saga, was preformed from the Iceland town’s harbor.

David Fincher’s Mank, a lavishly crafted drama of 1940s Hollywood made for Netflix, came in the lead nominee with 10 nods and went home with award for cinematography and for production design.

Best adapted screenplay went to the dementia drama The Father. My Octopus Teacher, a film that found a passionate following on Netflix, won best documentary. Danish director Thomas Vinterberg’s Another Round won best international film, an award he dedicated to his daughter, Ida, who in 2019 was killed in a car crash at age 19.

The red carpet was back on Sunday, minus the throngs of onlookers and with socially distanced interviews. Only a handful of media outlets were allowed on site, behind a velvet rope and some distance from the nominees. Casual wear, the academy warned nominees early on, was a no-no.

Stars, limited to a plus-one, went without their usual battalions of publicists.

But even good show may not be enough to save the Oscars from an expected ratings slide. Award show ratings have cratered during the pandemic, and this year’s nominees—many of them smaller, lowerbudget dramas—won’t come close to the drawing power of past Oscar heavyweights like Titanic or Black Panther. n

day are all fully-booked because of the activities linedup for the pageant. “The candidates are all arriving one after the other and we are in charge of their skincare needs and requirements. I’m just happy that Filipinos will be taking care of the skin essentials of the candidates. It is truly an honor to be selected as the official skin-care partner of this prestigious pageant,” she quipped.

Also sharing the spotlight this year with Mateo and Quido-Co is young Filipino shoemaker and designer Jojo Bragais, who has been announced as the official footwear provider for all the 76 candidates during pageant night.

Despite the fact that the all-important confirmatory phone call from the pageant organizers came in just sometime in early March, Bragais was all pumped-up and deliver he did. He said that each candidate will be given two pairs of shoes, and he is just grateful that for the first time in the history of the pageant, a Filipino has been chosen to provide the official shoes of the candidates.

The very first Binibining Pilipinas candidate to wear his shoes was Yvethe Santiago (who bagged the Supranational title) during the 2014 edition. When the organizers saw Santiago’s shoes, they were impressed and invited Bragais to provide the official shoes of the pageant the following year.

Bragais, who is originally from Albay in Bicol, became more popular when he formed part of the core team of Catriona Gray who was crowned Miss Universe in 2018. A generous guy, not many know that Bragais gave more than just his shoes and moral support to Gray when she competed in Bangkok.

A man of few words, Bragais said that this is a dream come true for him. “I have had my share of disappointments and rejections, but I believe that when one works hard and focuses on his strengths, counts his blessings, and remains kind, humble and grateful for every new opportunity that comes, then big doors will eventually open.”

Naturally, both Bragais and Quido-Co are quietly rooting for the country’s representative but they agree that in the end, destiny plays a big part as to which girl will be crowned Miss Universe.

Philippine pride in Miss Universe, times three

Come May 17 when a new Miss Universe will be proclaimed in the state of Florida, US, the Philippine flag will be raised much higher than ever before in the world’s most prestigious beauty pageant.

In the past, all eyes were only focused on the Philippine representative—how she carried her gown, sauntered in her swimwear, or answered in the Q&A. The Miss Universe pageant is something that many fans follow and viewers would make time to watch the live satellite feed usually aired in the morning in this part of Asia.

During the past 10 years, the Philippines has fared very well, producing two grand winners, three runners-up, and the rest were semi-finalists.

This year, it is the hope of many Filipinos that Rabiya Mateo of Iloilo will bring home the sixth crown for the country. Mateo has been in the United States for more than a week now, and activities of the international pageant are starting to shift to full gear

with a lot of interviews, fashion photoshoots, sponsor visits, lunches, cocktails and dinners happening daily.

Mateo, together with the candidates from El Salvador and Colombia, have already visited the spa of Filipina beauty expert Olivia Quido-Co, whose line of beauty care products was designated as the official skin-care partner of the Miss Universe pageant. “We have tried her products, and we have been pampered by the many services her spa offers. I am just happy and proud that a Filipina will share her expertise and her much sought-after products with girls from around the globe this year,” Mateo enthused.

Quido-Co admits the days leading to coronation

FROM left: Rabiya Mateo, Olivia QuidoCo and Jojo Bragais

B6 Tuesday, April 27, 2021

RED Fiber is now ‘Broadband of Choices’

Sun Life Philippines launches three new maturity date options for MyFuture Fund

SUN Life Philippines Chief Marketing and Client Experience Officer Gilbert Simpao

SUN Life Bldg facade

S

UN Life of Canada (Philippines), Inc. is launching three new maturity date options for its pioneering target-date investment solution, MyFuture Fund, in a bid to help more clients fulfill their long-term goals according to their timelines.

MyFuture Fund is a target-date fund managed by Sun Life’s professional fund managers. It follows a predetermined glide path that is designed to provide medium to long-term capital appreciation in the early years of investment, shifting to wealth preservation as the fund’s maturity date nears. Paired with a Sun Life Peso Variable Life insurance product whose primary benefit is life insurance protection, MyFuture Fund will now carry 2045, 2050, and 2055 maturity date options.

“We were inspired by the success of MyFuture Fund 2020 which culminated

on a high note last year,” Sun Life Philippines Chief Marketing and Client Experience Officer Gilbert Simpao said.

“With the three new variants, we hope to cater to more clients and a wider variety of needs.”

The first of its kind in the market, MyFuture Fund is a distinct and simple investment solution that follows a pre-determined glide path designed to provide clients with medium to longterm capital appreciation. During the early years of the fund, asset allocation is tilted towards high-quality equities to provide greater opportunity for asset appreciation. The strategy later shifts to more fixed income allocation to minimize the exposure to risk as the maturity date nears, thereby preserving the wealth accumulated.

“This means that the funds use a strategy that maximizes the earning

potential of our clients’ investments while also shielding them from possible volatilities in the financial markets,” Simpao noted.

Following the launch of the three new maturity date options, clients may now choose from a total of six options for MyFuture Fund. The three others are 2030, 2035, and 2040. MyFuture Fund can only be availed for the following Sun Life investment-linked insurance products: Sun MaxiLink One, Sun FlexiLink1, Sun MaxiLink Prime, Sun MaxiLink Bright, Sun MaxiLink 100, and Sun FlexiLink.

Know more about MyFuture Fund and other Sun Life investment solutions and insurance products. Consult a Sun Life Advisor or connect with one via bit. ly/advisormatch. For other inquiries, contact Sun Life Client Care at 88499888 or sunlife.com.ph.

I

N response to the overwhelming need of Filipinos for better internet service, Radius Telecoms, a 100% subsidiary of MERALCO, is launching its latest fibe broadband service, RED Fiber.

Since its launch last November 2020, RED Fiber has proven to be a game changer.

It maintains its progressive approach as the “Broadband of Choices” in Greater Metro Manila, CALABARZON, and parts of Central Luzon.

Radius Telecoms President and CEO Exequiel Delgado says, “Certain areas are implementing granular lockdowns brought about by this global health crisis. Having a grand product launch doesn’t feel right at the moment. But at the same time, we want to continue creating ways to serve our customers safely and efficiently. That is why we launched RED Fiber online—to provide ease of transaction for our customers.”

The online portal facilitates the speedy processing of new subscriber applications.

Customers can check the availability of RED Fiber’s service in any residential area. Upon approval of the application, the fiber internet service can be installed within 48 hours.

Radius Telecoms also forged a partnership with Cignal TV, the #1 payTV provider, to launch dual-play plans, giving consumers unlimited fiber internet, plus awesome premium channels.

Radius Telecoms’ superior internet network ensures 90% service reliability and 33% minimum speed for their fiber internet home plans. This kind of service level commitment was previously limited to business customers.

“It is high time for internet home users to get acquainted with a broadband provider

that commits a service level agreement (SLA). At RED Fiber, we will work hard to deliver this SLA consistently,” Delgado says.

RED Fiber plans start at P1,699 per month inclusive of a 20Mbps connection bundled with IPTV from Cignal TV. For a limited time, customers may avail of its introductory offer of a total of three-months free monthly service fee with the option to double the bandwidth for 30 days and get the highest TV plan free also for the first three months.

“Prospective customers will need to prepare soft copies of their valid ID and proof of billing, and note their Meralco customer account number for the real time application review. Our 24x7 Customer Care team will then initiate a chat in our portal to update them on the progress of their application,” says Jessica Bragas, Radius Business Unit Head for Consumer and SME segments.

“In case we are not yet available in their location, we still encourage applicants to register their contact information and installation address so they will be notified once their address becomes serviceable by RED Fiber,” Bragas adds.

To learn more about RED Fiber, visit its customer portal at www.redfiber.com or call their 24/7 Customer Care Hotline at (02) 8256-2888.

Rex Book Store rebrands to meet the demands of the 21st century learner

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N celebration of its 70th year of delivering service and dedication to Philippine education as a creator and publisher of comprehensive learning tools, the iconic Rex Book Store has now embraced its evolution into a brand that encompasses the whole learning experience of every Filipino learner.

Its new identity, Rex Education, signifies the commitment of the company as a brand, community, and advocacy dedicated to inspiring every Filipino lifelong learner to advance themselves, uplift others and sustain the environment for a better world. It was born out of the need to respond to the growing demands of the 21st-century learner and the necessity to pivot during the challenges of last year’s pandemic situation.

“Every learner has the right to education. For the last 70 years since Rex Education started, we have always rallied behind this advocacy. To bring learning and quality education to every Filipino— no matter their age, no matter where they come from, no matter their status in life. The past months’ events have compelled us to reflect on what we have accomplished and what we can still improve on as

we provide our service to the Filipino community.

After many discussions, moments of reflection, and responding to the call of educators and institutions nationwide, we have decided that it is time for Rex Education to step up and embrace who we have become. And now, we are Rex Education—every learner’s companion throughout their lifelong journey,” said Don Timothy Buhain, chief executive officer of Rex Education.

Accompanying the new brand name is a brandnew logo that reflects the journey that has led to the brand’s transformation. The logo communicates Rex Education’s call that “What we learn, we wear like a crown.”

“Through the decades, we have endured, expanded, and evolved. But since then and for decades to come, we pledge ourselves to the cause of education. This Learner’s Crown is not a crown worn by a king but by the humble servant for learning in all of us. It symbolizes the nobility in our purpose, our lifelong adventures and experiences, and our resolve for continuous growth, enlightenment, empowerment, and fulfillment,” said Jeanne Marie

Fontelera-Tordesillas, chief marketing officer of Rex Education.

The new name and logo debuted at the 2021 Annual Educators’ Conference (AECON) Education Heroes’ Summit, held virtually last January 22-23, 2021. It was attended by thousands of teachers, educators, and Rex Education’s learning partners from all over the country.

Rex Education has been at the forefront of addressing the gaps and challenges that came with the shift to online and distance learning. The company had always prided itself in advocating cutting-edge educational innovations even before the pandemic. Rex Education introduced Schoology, a learning management system that incentivized teachers to use student-centered teaching methods with an online platform.

In response to the need for online learning materials, Rex Education made many of its instructional materials available online through the Rex Education’s E-store. Rex Education also launched the HOMES Guide, a learning companion developed based on the Department of Education’s Most Essential Learning Competencies (MELCs) to provide guidance on using Rex Education’s printed and online resources for home-based learning.

The guide is available for all major subject areas for grades 1 to 10 and core subjects and applied track subjects for grades 11 and 12.

“Our learners now are digital natives, so it only makes sense that we develop our suite of learning products and solutions to meet the demands and conditions of the 21st century,” explained Don Timothy Buhain.

Throughout 2020, Schoology and the HOMES Guide’s demand increased, proving that Rex Education was indeed one step ahead of its time.

“This foresight and dedication to innovation have always been at the core of Rex Education, even before the brand transformation. And as we enter a new era of education, one driven by technology and centered on individual learning, Rex Education assures its clients and partners that we will live up to our name and continue to keep up with the global standard of education and help raise the bar in the Philippines for a better climate of learning for our learners of all ages,” said Don Timothy Buhain.

For more information, visit www.rex.com.ph.

IATF OFFICIALS VISITED SM AURA VACCINE SITE. In line with the SM Malls‘ support for the vaccination programs of local government units, the Samsung Hall at SM Aura Premier was converted into a long term vaccination site for Taguig, and the first vaccination center in BGC. Photo shows IATF officials and local government officials at the site during the first round (from left) Senator Pia Cayetano, Chief Implementer and Vaccine czar Carlito Galvez, Taguig City Mayor Lino Cayetano, SM Aura Premier Operations Head Bernice Baculi and covid-19 testing czar Vince Dizon. The City of Taguig continues its vaccination rollout to all health workers, senior citizens, and persons with comorbidities, and assures that the process is guided by strict compliance and protocols especially to the vulnerable sectors.

PROMIL launches first online talent search this April

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ROM being the partner of the country’s gifted kids, PROMIL continues its legacy of nurturing child’s gifts with the launch of its first online talent search this April.

Dubbed as “Search for the next PROMIL Kid”, kids will now have a chance to bring into center stage their gifts such as singing, dancing, art, vlogging, podcasting, and more.

“Two years ago, we launched Sheena Bentoy as the new PROMIL Kid. What she has achieved at such a young age is also attributed to her mom, Irish, who has given her unwavering support, love, and has continued to nurture her gift.

With our “Search for the Next Promil Kid”, we hope to inspire parents to spot and nurture their child’s gifts because their child, just like Sheena and countless others before her, could be the next PROMIL Kid,” shares Maria Carmela Gabunada, Associate Marketing Director - GPM, Promil Original and Organic for Wyeth Nutrition.

The search is open to moms with children aged 3-7 years old. All they need to do is go to Promil Four’s official Facebook page (www.facebook.com/ promilfour) and click the “Search for the next PROMIL KID” post to sign up.

Once signed up, wait for the confirmation email from PROMIL FOUR with details on the required audition videos and supporting documents to send to promilnurturethegift@gmail.com.

Moms can just use a camera phone to

shoot the required virtual video audition from the comfort of their homes and show the world what their gifted kids can do.

Video entries will be judged this May and will go through various levels of eliminations until only the most exciting and exceptionally gifted kid will be crowned the winner and announced as the new Promil Kid. As the parent’s partner in nurturing their child’s gifts, PROMIL® FOUR is filled with essential nutrients like Lutein, Vitamin C, Zinc, DHA, Choline, Vitamin D, and Calcium. These nutrients can help them learn new gifts, bring out the best in them, and support them from shining at every stage. Visit promilnurturethegift.com. ph to learn more.

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

The World BusinessMirror

Tuesday, April 27, 2021

B7

Coronavirus ‘swallowing’ people in India; crematoriums swamped N

EW DELHI—With life-saving oxygen in short supply, families are left on their own to ferry people sick with Covid-19 from hospital to hospital in search of treatment as India is engulfed in a devastating surge of infections. Too often, their efforts end in mourning.

On social media and in television footage, desperate relatives plead for oxygen outside hospitals or weep in the street for loved ones who died waiting for treatment.

One woman mourned the death of her younger brother, aged 50. He was turned away by two hospitals and died waiting to be seen at a third, gasping after his oxygen tank ran out and no replacements were to be had.

She blamed Prime Minister Narendra Modi’s government for the crisis.

“He has lit funeral pyres in every house,’’ she cried in a video shot by The Caravan magazine.

For the fourth straight day, India on Sunday set a global daily record of new coronavirus infections, spurred by an insidious new variant that emerged here. The surge has undermined the government’s premature claims of victory over the pandemic.

T he 3 4 9,6 91 ne w i n fe c t ion s brought India’s total to more than 16.9 million, behind only the United States. The Health Ministry reported another 2,767 deaths in the past 24 hours, pushing India’s fatalities to 192,311.

The death toll could be a huge undercount, as suspected cases are not included, and many Covid-19 deaths are being attributed to underlying conditions.

T he u nfold ing c r isis is most v iscera l in Ind ia’s over whelmed graveyards and crematoriums, and in heartbreaking images of gasping patients dying on their way to hospitals due to lack of oxygen.

Burial grounds in the capital New Delhi are running out of space. Bright, glowing funeral pyres light up the night sky in other badly hit cities.

In the central city of Bhopal, some crematoriums have increased their capacity from dozens of pyres to more than 50. Yet there are still hours-long waits.

At the city’s Bhadbhada Vishram Ghat crematorium, workers said they cremated more than 110 people on Saturday, even as government figures in the entire city of 1.8 million put the total number of virus deaths at just 10.

“The virus is swallowing our city’s people like a monster,” said Mamtesh Sharma, an official at the site.

Thai premier says more curbs planned to control virus surge

T

hailand is weighing fresh control measures to contain the biggest wave of coronavirus outbreak to hit the Southeast Asian nation after capital Bangkok ordered more businesses to close from Monday.

The Center for Covid-19 Situation Administration, the nation’s main virus task force chaired by Prime Minister Prayuth Chan-Ocha, will consider the new restrictions on Wednesday, National Security Council Secretary General Natthapol Nakpanich said in Bangkok. The panel will also consider whether more stringent curbs on movements and businesses are needed in Bangkok, he said.

Thailand has seen its total Covid-19 cases nearly double since the beginning of April with the

resurgence of an outbreak tied to entertainment venues in Bangkok that has since spread to much of the nation of 77 provinces. The country reported its biggest one-day jump in new infections on Saturday and record fatalities on Sunday, with total case count reaching 57,508.

Au t h o ri t i e s i n B a n g ko k c l o s e d d oze n s of businesses such as cinemas, gyms, and convention centers for two weeks star ting Monday, while allowing malls and convenience stores to remain open but with shortened hours.

Earlier this month, the city of 10 million people had ordered the shutdown of pubs and bars, which were identified as sources for new clusters of infections. Bloomberg News

Relatives mourn near a coffin containing the body of a person who died of Covid-19 in Srinagar, Indian controlled Kashmir on April 25. India’s crematoriums and burial grounds are being overwhelmed by the devastating new surge of infections tearing through the populous country with terrifying speed, depleting the supply of life-saving oxygen to critical levels and leaving patients to die while waiting in line to see doctors. AP/Mukhtar Khan The unprecedented rush of bodies has forced the crematorium to skip individual ceremonies and exhaustive rituals that Hindus believe release the soul from the cycle of rebirth.

“We are just burning bodies as they arrive,” said Sharma. “It is as if we are in the middle of a war.”

The head gravedigger at New Delhi’s largest Muslim cemetery, where 1,000 people have been buried during the pandemic, said more bodies are arriving now than last year. “I fear we will run out of space very soon,” said Mohammad Shameem.

The situation is equally grim at unbearably full hospitals, where desperate people are dying in line, sometimes on the roads outside, waiting to see doctors.

Health officials are scrambling to expand critical care units and stock up on dwindling supplies of oxygen. Hospitals and patients alike are struggling

to procure scarce medical equipment that’s being sold on the black market at an exponential markup.

The drama is in direct contrast with government claims that “nobody in the country was left without oxygen,” in a statement made Saturday by India’s Solicitor General Tushar Mehta before Delhi High Court.

The breakdown is a stark failure for a country whose prime minister only in January had declared victory over Covid-19, and which boasted of being the “world’s pharmacy,” a global producer of vaccines and a model for other developing nations.

Caught off-guard by the latest deadly spike, the federal government has asked industrialists to increase the production of oxygen and other life-saving drugs in short supply. But health experts say India had an entire year to prepare for the inevitable— and it didn’t.

including the health minister and the governor of Baghdad province. Other officials, including the hospital director, were dismissed from their posts.

It took firefighters and civil defense teams until early Sunday to put out the flames.

Among the dead were at least 28 patients on ventilators, tweeted Ali al-Bayati, a spokesman of the countr y’s independent Human Rights Commission, a semi-official body.

Paramedics carried the bodies, many burned beyond recognition, to al-Zafaraniya Hospital, where Ahmed said forensics teams will attempt to identify them by matching DNA samples to relatives.

By midday Sunday, relatives were still searching anxiously for loved ones.

“Please, two of my relatives are missing. ... I am going to die [without news about them],” posted a young woman on social media after a fruitless search for her family members. “I hope someone can help us find Sadi Abdul Kareem and Samir Abdul Kareem, they were in the ICU.” Rokya Kareem, 30, was looking frantically for her friend Riyam Rahman, a pharmacist, who was visiting her mother at the hospital. Rahman’s mother, Basima, was admitted to the hospital 45 days ago with complications from Covid-19.

“All we know is they were in the room next to where the fire started,” she said. “Her phone is switched off, and her family has gone to every hospital trying to find them.”

The fire happened as Iraq grapples with a

termined the content to be “illegal in a particular jurisdiction.” The company said it had responded to an order by the government and notified people whose tweets were withheld.

India’s Information Technology Ministry did not respond to a request for comment.

Even with the targeted blocks, horrific scenes of overwhelmed hospitals and cremation grounds spread on Twitter and drew appeals for help.

President Joe Biden said the US was determined to help. “Just as India sent assistance to the United States as our hospitals were strained early in the pandemic, we are determined to help India in its time of need,” Biden said in a tweet.

The W hite House said the US was “working around the clock ” to deploy testing kits, ventilators a nd person a l protec t ive equ ip ment, and it would seek to prov ide ox ygen supplies as well. It said it would also make available sources of raw material urgently needed to m a nu fact u re Cov ish ield, t he Oxford-AstraZeneca vaccine made by the Serum Institute of India.

Help and support were also offered from archrival Pakistan, with politicians and citizens in the neighboring country expressing solidarity. Pakistan’s Foreign Affairs Ministry said it offered to provide relief including ventilators, oxygen supply kits, digital X-ray machines, PPE and related items.

“Humanitarian issues require responses beyond political consideration,” Foreign Minister Shah Mehmood Qureshi said.

The Indian government did not immediately respond to Qureshi’s statement. AP

Indonesian brigadier general killed in 2-week Papua clash

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AYAPURA, Indonesia—An Indonesian brigadier general was killed in an ongoing clash between security forces and a rebel group in restive Papua province, authorities said Monday.

The clashes started April 8 in Indonesia’s easternmost Papua province after rebels set fire to three schools and shot to death a teacher in Beoga village in Puncak district. Police, military and intelligence forces joined Operation Nemangkawi to find the attackers, who authorities believe belong to the West Papua Liberation

Army, the military wing of the Free Papua Organization.

Rebels have been fighting a lowlevel insurgency since the early 1960s, when Indonesia annexed Papua, a former Dutch colony. Papua was formally incorporated into Indonesia in 1969 after a UN-sponsored ballot that was seen as a sham by many.

Papua’s intelligence agency chief Brig.

Gen. Gusti Putu Danny Nugraha was shot in his head and died in a rebel ambush, said Col. Iqbal Alqudusy, the Operation Nemangkawi’s spokesperson.

Death toll in fire at Iraqi Covid hospital surpasses 80 B

AGHDAD—The death toll from a massive fire at a Baghdad hospital for coronavirus patients rose to at least 82 Sunday as anxious families searched for missing relatives and the government suspended key health officials for alleged negligence.

The flames, described by one witness as“volcanoes of fire,” swept through the intensive care unit of the Ibn al-Khatib Hospital, which tends exclusively to Covid-19 patients with severe symptoms. Officials said the blaze, which also injured 110 people, was set off by an exploding oxygen cylinder.

Nurse Maher Ahmed was called to the scene late Saturday to help evacuate patients.

“I could not have imagined it would be a massive blaze like that,” he said. The flames overwhelmed the hospital’s second floor isolation hall within three to four minutes of the oxygen cylinder exploding, he said. “Volcanoes of fire.”

Most of those killed suffered severe burns, he said. Others were overcome by smoke, unwilling to leave behind relatives hooked up to ventilators.

Ahmed said the patients could not be moved.

“They would have minutes to live without oxygen.”

He said he and others watched helplessly as one patient struggled to breathe amid the smoke.

Widespread negligence on the part of health officials is to blame for the fire, Iraq’s prime minister, Mustafa al-Kadhimi, said Sunday.

Following a special cabinet meeting to discuss the blaze, the government suspended key officials,

Dr. Krutika Kuppalli, assistant professor of medicine in the division of infectious diseases at the Medical University of South Carolina, said the government should have used the last year, when the virus was more under control, to stockpile medicines and develop systems to confront the likelihood of a new surge.

“Most importantly, they should have looked at what was going on in other parts of the world and understood that it was a matter of time before they would be in a similar situation,’’ Kuppalli said.

Instead, the government’s premature declarations of victory encouraged people to relax when they should have continued strict adherence to physical distancing, wearing masks and avoiding large crowds.

Modi is facing mounting criticism for allowing Hindu festivals and attending mammoth election rallies that experts suspect accelerated the spread of infections. At one such rally on April 17, Modi expressed his delight at the huge crowd, even as experts warned that a deadly surge was inevitable with India already counting 250,000 new daily cases.

Now, with the death toll mounting, his Hindu nationalist government is trying to quell critical voices.

On Saturday, Twitter complied with the government’s request and prevented people in India from viewing more than 50 tweets that appeared to criticize the administration’s handling of the pandemic. The targeted posts include tweets from opposition ministers critical of Modi, journalists and ordinary Indians.

A Twitter spokesperson said it had powers to “withhold access to the content in India only” if the company de-

severe second wave of the coronavirus pandemic.

Daily virus cases now average around 8,000, the highest level since Iraq began recording infection rates early last year. At least 15,200 people have died of coronavirus in Iraq among at least 100,000 confirmed cases.

Years of sanctions and war have crippled the country’s health sector, and the latest infection wave has tested the limits of health facilities. Security concerns also plague the country as frequent rocket attacks continue to target army bases hosting foreign troops and the seat of Iraq’s government.

The deadly fire was only the latest chapter in Iraq’s poor record for public safety.

In March 2019, over 100 people died when a ferry capsized on the Tigris River near the northern city of Mosul. The boat overturned due to overcrowding and high water. A few months later, in September 2019, a fire ripped through Baghdad’s Shorja market, a major commercial area in the city, burning many shops to the ground.

Part of the problem is that laws and regulations governing public safety and health are old, said Yesar al-Maliki, an adviser to the Iraq Energy Institute.

“It has to do with the overall system. There are no detailed regulations and [standard operating procedures] on how to do basic things step by step, especially when handling risky equipment,” said Al-Maliki, who also worked in Iraq’s oil and gas industry.

“There needs to be specialists handling policy,

regulation and implementation,” he said. “If there was a standard operating procedure on how to handle oxygen bottles, especially noticing wear and tear ... This wouldn’t have happened.”

The prime minster convened the special cabinet session hours after the flames broke out.

In addition to suspending the health minister, Hasan al-Tamimi, and Baghdad’s governor, the cabinet ordered an investigation of the health minister and key hospital officials responsible for overseeing safety measures.

The cabinet also fired the director-general of the Baghdad health department in the al-Rusafa area, where the hospital is located, and the hospital’s director of engineering and maintenance, according to a statement from the Health Ministry and the prime minister’s office.

“Negligence in such matters is not a mistake, but a crime for which all negligent parties must bear responsibility,” al-Kadhimi said Sunday after a meeting.

The United Nations envoy to Iraq, Jeannine Hennis-Plasschaert, expressed “shock and pain” over the fire in a statement and called for stronger protection measures in hospitals.

At the Vatican, Pope Francis, who concluded a historic trip to Iraq last month, remembered those who perished in the blaze. Addressing people gathered in St. Peter’s Square for his customary Sunday appearance, Francis mentioned the news of the dead. “Let’s pray for them,’’ he said. AP

The ambush occurred while the general was patrolling Beoga’s neighboring village of Dambet with 13 other personnel on motorcycles Sunday afternoon after rebels set fire to an elementary school and houses in the village, he said.

He said security forces managed to evacuate the body on Monday morning while a joint military and police force was hunting “an armed separatist criminal group.”

“We are on the highest alert as instructed to all troops on the ground,”

Alqudusy said.

Attacks by rebels in several districts in Papua have spiked in the past year, including in the Grasberg mine.

The Grasberg mine’s vast gold and copper reserves have been extracted for decades by Freeport-McMoRan, damaging the surrounding environment while providing significant tax income for the Indonesian government.

But indigenous Papuans have benefited little and are poorer, sicker and more likely to die young than people elsewhere in Indonesia. AP

HK, Singapore to launch air travel bubble from May 26

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ONG KONG—Hong Kong and Singapore said Monday they would launch an air travel bubble in May, months after an initial arrangement that would allow tourists to fly between both cities without having to serve quarantine was postponed.

Flights will begin from May 26. Visitors will not have to go through the quarantine as long as they fulfill the conditions of travelling within the air travel bubble.

Hong Kong and Singapore had previously announced the launch of an air travel bubble in November last year but shelved the plan days before it was to start after Hong Kong saw a surge in Covid-19 infections.

Th e a i r t r a ve l b u b b l e co m e s a s b o t h Singapore and Hong Kong seek to boost tourism amid the pandemic, which has seen various countries close borders and declining air travel.

“The two governments have reached consensus on the latest arrangement and will put in place more stringent public health protocols in response to the latest epidemic development,” said Hong Kong’s Secretary for Commerce and Economic Development, Edward Yau in a statement.

“Our goal remains striking a right balance between public health and travel convenience so that the public will rest assured while maintaining certainty.”

Travelers from Hong Kong will need to be fully vaccinated two weeks prior to departing for Singapore, although this requirement will not apply to those going from Singapore to Hong Kong. They are also required to have spent 14 days in each city before travelling, with compulsory quarantine periods not counting towards this period.

Under the new arrangement, the air travel bubble would be suspended for two weeks if the seven-day moving average of local, untraceable coronavirus cases in either city exceed five.

It will only be resumed after the threshold of unlinked cases has been met, with three consecutive days of three or less unlinked infections and a daily moving average of not more than five such cases on the third day.

Travelers from both cities will also be expected to download the tracing apps of the destination.

“I am happy that Hong Kong got the Covid-19 situation under control. It has been a long few months, but the conditions are now ripe again to re-launch the ATB,” said Singapore’s Minister for Transport, Ong Ye Kung, in a statement.

“Both sides will need to stay very vigilant in the next one month, so that we can launch the first flights smoothly. It is a significant ATB between two aviation and financial services hubs in Asia,” he said. AP

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Tuesday, April 27, 2021 • Editor: Jun Lomibao

Curry sets NBA record for 3-pointers in a month

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AN FRANCISCO—Greeted by more “M-V-P!” chants, Stephen Curry dazzled again in one of the most dominant stretches of his career.

Curry scored 37 points and set an National Basketball Association record for three-pointers in a month at 85, leading the Golden State Warriors past the Sacramento Kings, 117-113, on Sunday night.

“Obviously when I'm out there I definitely feel like I'm the best shooter in the world,” Curry said good-naturedly when asked if he's not the best, who possibly could be.

“But it still means I still got to put the work in.”

Kelly Oubre Jr.’s jumper with 1:42 left put Golden State ahead 112111 before Richaun Holmes missed a pair of free throws at the 1:25 mark, then Draymond Green scored moments later.

Curry shot 11 of 21 with seven more 3-pointers after the two-time MVP rolled his right ankle during Friday’s win against Denver but didn’t consider it serious or seem hobbled. His April total surpassed James Harden’s NBA record of 82 in November 2019.

“Incredible, man,” Green said of the Splash Brother. “It looked like the rim is the size of the ocean, literally.” Green had 14 rebounds and 13 assists in the Warriors' fourth straight home win. That matches the team's longest winning streak of the season at Chase Center, where Golden State drew 3,252 fans—up

from 1,935 on Friday in the first game fans returned.

Curry even hit from way back.

“It really is crazy. He hit a couple tonight, even for him...he came right across half court and Sacramento knew he was going to shoot, Luke Walton's yelling on the sidelines, the whole team comes out to try to defend him and he steps over half court and knocks down about, I don't know, a 38-footer," coach Steve Kerr said. "It's incredible. I don't know what to say."

Harrison Barnes had 23 points and seven rebounds against his former team and Buddy Hield scored 25 to lead the Kings, who had won four of five in the series.

Golden State beat the Kings 137-106 at Chase Center on January 4, but had lost four of seven in the rivalry at home.

Sacramento center Holmes returned from a five-game absence with a strained right hamstring and contributed 11 points and five rebounds.

“We had our chances," Walton said. “We missed some free throws. We had some looks that we could have scored on, but overall a really good game by our team tonight.” AP STEPHEN CURRY dazzled again in one of the most dominant stretches of his career. AP

Sports PSC: WE ARE READY BusinessMirror

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BY JOSEF RAMOS

ROM a little over 30 sports in 1990, the Philippine Sports Commission (PSC) family has grown to 71 national sports associations (NSAs) that chairman William Ramirez wanted to be happy all the time.

And with the Covid-19 pandemic still sowing havoc everywhere, Ramirez said the PSC will remain resilient especially in an Olympic and Southeast Asian Games year.

“We are ready!”

Ramirez told an online news conference with the sports media on Monday, addressing a question on how the PSC will face the next two months when more than a dozen athletes try to qualify for the

Tokyo Olympics and further after that when 626 others start prepping for the 31st Hanoi SEA Games.

Ramirez affirmed the PSC’s commitment to fund the Tokyo Olympics campaign pegged at P250 million and the SEA Games bid at P200 million.

So far, seven Filipinos—boxers Eumir Felix Marcial, Irish Magno, Nesthy Petecio and Carlo Paalam, pole vaulter EJ Obiena, weightlifter Hidilyn Diaz and gymnast Carlos Yulo—have qualified for Tokyo.

“The PSC is always committed to support our Olympic campaign with a very strong hope of winning our country’s first gold medal in the Games,” Ramirez said. “And we are confident there will be more athletes who would qualify for Tokyo.”

“We are always ready to support our athletes despite these tough challenges,” he said. “We have the budget.”

The PSC flock, meanwhile, has increased to 71 NSAs and other organizations, double the former figure of 35 organizations, all of which

www.businessmirror.com.ph

PHILIPPINE Sports Commission chairman William Ramirez says the agency will always fulfill its commitment to the athletes.

were traditional Olympic sports—when the PSC was established in 1990.

“This will be one of the problems the PSC will encounter in the years to come as to how we rationally allocate our budget,” PSC Executive Director Atty. Guillermo Iroy told the same virtual news conference.

Of the 71 organizations, 51 are regular members of the Philippine Olympic Committee (POC), 10 are association and 10 are recognized members. “The existing NSAs right now are doubled than the previous numbers. So that’s one of the major concerns the PSC will soon have to face,” added Iroy, who was also joined by PSC National Team Director Marc Velasco in the news conference.

Iroy said that despite the increase in the number of organizations which will be funded, the PSC will always find ways to fuilfill its commitment.

“When you speak of funds, there can never be enough for the requirements of the NSAs,” Iroy said. “We always look for sources to ensure that we have enough funds.”

Tokyo Olympics: More tests, no quarantine in updated rules

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OKYO—Tokyo Olympic organizers and the International Olympic Committee (IOC) are to unveil new plans this week to explain how 15,400 Olympic and Paralympic athletes can compete in Japan when the games open in three months in the midst of a pandemic.

The rollout of the second edition

of the so-called “Playbooks”—an IOC guidebook explaining how the games can be pulled off—comes as Tokyo, Osaka and several other areas have been placed under a third state of emergency as coronavirus cases surge.

Japan, which has attributed about 10,000 deaths to Covid-19, has also been slow with local vaccination with about 1 percent so far getting shots.

Organizers are expected to announce daily testing for athletes.

They are also expected to drop a 14-day quarantine requirement, allowing athletes to train when they arrive. Athletes will be required to stay within a “bubble” consisting of the Olympic Village on Tokyo Bay, and venues and training areas.

Japan's Kyodo news, citing unnamed sources, said athletes and staff will have to be tested twice within 96 hours before leaving home. They will also be

tested upon arrival in Japan.

The Playbook for athletes is to be updated on Wednesday, with Playbooks for media and others unveiled on Friday. A final edition of all Playbooks will be published in June.

Resistance to the Olympics in Japan is still running high with 70 percent to 80 percent opposed in recent polls. Fans from abroad have already been barred, and organizers have put off until as late a June a decision on having any fans at all at Olympic venues. Taro Kono, the minister in charge of vaccination in Japan, suggested earlier this month that empty venues was a probable option.

IOC President Thomas Bach last week said his plans to meet the torch relay in Hiroshima on May 17 and 18 are still not confirmed. Bach's arrival would be just days after the latest state of emergency ends on May 11. Opposition lawmakers in Japan's national legislature have suggested Prime Minister Yoshihide Suga scheduled the state of emergency to accommodate Bach.

The government and the International Olympic Committee have said the precautions are in place specifically for Japan's “Golden Week" holiday, which begins on Thursday.

The torch relay, which began on March 25 in Fukushima in northeastern Japan, has been detoured several times this month and was forced to run in an empty city park in Osaka. It was also rerouted in Matsuyama City Ehime prefecture. It will be banned altogether this weekend on the Okinawa island of Miyakojima. The small island has only one hospital. The relay will run through other locations on Okinawa.

The heavily sponsored relay is a caravan of more than a dozen cars and other vehicles festooned with advertising from major sponsors like Coca-Cola and Toyota.

Torch runners—there are 10,000 in total— typically bring up the rear amid blaring music and banter from DJs. The relay is scheduled to end at the National Stadium on July 23 for the opening ceremony of the Tokyo Games. AP

PNVF BEACH VOLLEY COMMISSION SUPPORTS ILOCOS NORTE PROGRAM

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HE Beach Volleyball Commission (BVC) of the Philippine National Volleyball Federation (PNVF) recently supported the AMB Beach Volleyball Clinic held over the weekend in Currimao, Ilocos Norte.

Charo Soriano, the PNVF executive board member who also chairs the BVC, said that the AMB beach volleyball technical and demo workshop held last April 23 is part of improving the game by teaching

updated regulations of the sport to local officials.

“Learning the updated rules of the game is vital in any sport developmental program. For us to be able to improve the sport, we must learn how it’s being played in a more technical manner,” Soriano said.

“I applaud the sports resiliency of the north in making sure that they not only focus on the growth of the players but also of the technical officials,” she added.

Health and safety protocols were strictly implemented during the event.

Helen Molina-Domingo, secretarygeneral of Ilocos Norte Volleyball, said it was the first time that the beach volleyball clinic was organized in Ilocos Norte.

“In Ilocos Norte we formulated a risk assessment plan under the Play Safe Fearless program approved by Gov. Matthew Marcos Manotoc and beach volleyball is assessed between the low and medium risk," Molina-Domingo said.

"So we wrote to Rep. Angelo Marcos Barba to stage the send series of the AMB beach volleyball and this time it would be aligned with the PNVF grassroots development plan which Rep. Barba also agreed,” MolinaA LOCAL participant wears a mask during the volleyball clinic.

Marcial in PSA Forum

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HILIPPINE Basketball Association Commissioner Willie Marcial joins Samahang Weightlifting ng Pilipinas President Monico Puentevella in an interesting two-part session of the Philippine Sportswriters Association Forum online edition on Tuesday.

Marcial will give an update on the league’s plan to have a late May or an early June opening for its 46th season.

Puentevella, meanwhile, will discuss Rio 2016 silver medalist Hidilyn Diaz’s bid in Tokyo, her fourthstraight Olympic appearance.

Puentevella, also a former Philippine Sports Commission commissioner, will also talk about the bright future of the sport in the country

in the wake of the Filipino lifters’ successful campaign in the recent Asian Weightlifting Championship in Tashkent led by Vanessa Sarno (two golds, one silver), Erleen Ando (three silvers) and Mary Flor Diaz (three silvers).

The session—presented by San Miguel Corp., Milo, Amelie Hotel Manila, Braska Restaurant, and the Philippine Amusement and Gaming Corp.—starts at 10 a.m.

Powered by Smart and Upstream Media as the official webcast partner, the Forum is livestreamed via the PSA Facebook page fb.com/ PhilippineSportswritersAssociation and also shared by Radyo Pilipinas 2 Facebook page.

Domingo added.

The very objective why we re-start sports activity even during pandemic is to help revive the businesses of SME's where we conduct sporting activity that was affected by the pandemic.

The next circuit of the AMB Beach Volleyball is slated from May 14 to 25 in Ilocos Norte’s First District.

Mandaue City squares off with Tubigon in VisMin Cup

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CS Computer Specialist-Mandaue City tries to get back on track when it tackles Tubigon Bohol in the Chooks-to-Go Pilipinas VisMin Super Cup on Tuesday at the Alcantara Civic Center in Cebu.

Mandaue City absorbed a 73-81 loss to rampaging MJAS Zenith-Talisay City on Saturday to see its unbeaten snapped at five-game for a 5-2 win-loss record.

The Mandaue City-Tubigon match is set at 3 p.m.

Despite the loss, Mandaue City assistant coach Jappy Bautista said they will continue to focus on playing their system. “We just want to keep on playing our game. Before we focus on our opponents’ mistakes, we want to make sure that we’re doing the right thing as a team and the rest will follow,” Bautista said.

Talisay City, meanwhile, targets its ninth consecutive victory when it faces a reeling Dumaguete City at 7 p.m.

Darrell Shane Menina was spectacular in the second half in their last game against Mandaue City as he piled on 25 of his 28 points in that crucial stretch where they overhauled a thirdquarter 40-47 deficit.

Jaymar Gimpayan was just as efficient as he tallied a double-double of 19 points and 10 rebounds. The Warriors, which are near the bottom of the standings with a 1-5 card, will now be led by new head coach Leode Garcia.