BusinessMirror August 06, 2020

Food, utility prices, fares seen rising A

S consumer demand recovers in the coming months, food and utility prices as well as transportation fares may go up, according to the Philippine Statistics Authority (PSA).

On Wednesday, the PSA reported that commodity prices increased to 2.7 percent in July, higher than the 2.5 percent posted in June 2020 and 2.4 percent in July 2019.

In a briefing on Wednesday, National Statistician Claire Dennis S. Mapa said the recent uptick in prices would likely continue.

“We are still seeing a downward trend in several of the food items but of course there are items that are starting to increase, like—as we discussed a while ago—meat, chicken, pork. So these are items that would contribute to an increase in the inflation rate because of the bigger weight,” Mapa explained.

He said utility prices will also see an

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increase as the economy gradually reopens.

Mapa added that the weight of the housing, gas, electricity, water and fuels in the Consumer Price Index (CPI) will ensure that any price increase in these commodities will have an impact on overall inflation.

Further, the increase in transportation fares is another major commodity that will see an uptick in prices. In July, transportation was the top contributor to the increase in inflation.

Mapa said in July, tricycle fares surged 33.9 percent, higher than the 26.8-percent increase it posted in June 2020. He said in July 2019, the minimum fare being charged by tricycles was only P8.50 but now the average increased to P17 per passenger.

“Although we expect that the overall consumer prices will remain benign until 2021, we recognize that the upside risks to the inflation outlook still remain,” Acting

Socioeconomic Planning Secretary Karl Kendrick Chua said.

“We need to remain vigilant and ensure that strategies are well-placed to ensure stable supply and delivery of essential commodities in all parts of the country,” he added.

Economists

THE latest uptick in inflation, according to local economists, would not guarantee that domestic demand has already recovered.

De La Salle University economist Maria Ella C. Oplas told the BusinessMirror on Wednesday that the uptick in inflation was largely due to the relaxation of quarantine restrictions.

Another factor: some Filipinos “became creative” in the use of their money by buying online. Oplas said while dining out and traveling remain restricted, more

Filipinos found a way to spend, which caused inflation to rise.

However, the return to the modified enhanced community quarantine (MECQ) will have an impact on inflation and the performance of the economy in the third quarter.

Nonetheless, she expects inflation to settle within 2.6 percent to 2.5 percent this year, well within the Bangko Sentral ng Pilipinas’s targets.

Ateneo Center for Economic Research and Development (Acerd) Director Alvin P. Ang agreed and told the BusinessMirror that inflation will remain in check this year.

“Government just needs to ensure food availability and address transport, and inflation will be within this range of 2.5 percent to 2.8 percent for the rest of the year,” Ang said.

Continued on A3

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Thursday, August 6, 2020 Vol. 15 No. 301

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EXPORTS STILL AT RISK COVID-19 WAR CHEST FROM LOANS, GRANTS NOW AT $8.131B–DOF

By Bernadette D. Nicolas

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TO help prevent further spread of Covid-19 amid the modified enhanced community quarantine (MECQ) in Metro Manila, the Parañaque City government formally launched on Wednesday the on-site digital disbursement of its local cash assistance program called “Paraña-Cash” via “Bank-on-Wheels”. The partnership with Union Bank of the Philippines allows the city’s 50,000 household beneficiaries to withdraw their P5,000 Covid cash aid through BOW, a 5G-powered and airconditioned banking kiosk in a mobile van. Joining Parañaque Mayor Edwin Olivarez in the launch at San Agustin covered court were Director General Jeremiah Belgica of the Anti-Red Tape Authority, DILG Undersecretary Jonathan Malaya, BPLO Chief Atty. Melanie Malaya, UnionBank SVP Paolo Baltao,1st District Parañaque Rep. Eric Olivarez and Vice Mayor Rico Golez. NONIE REYES

T

By Cai U. Ordinario

HE easing of lockdown restrictions in foreign markets has allowed external trade figures to show signs of recovery, but the worst is not yet over for Philippine traders, according to economists.

On Wednesday, the Philippine Statistics Authority (PSA) said exports contracted 13.3 percent, while imports contracted 24.5 percent in June 2020.

In May 2020, exports contracted 26.9 percent and declined 3.3 percent in June 2019. Imports, meanwhile, contracted 40.6 percent in May 2020 and declined 7.2 percent in June 2019.

“The worst is not yet over be-

cause all our trade partners have not yet recovered,” Ateneo Center for Economic Research and Development (ACERD) Director Alvin P. Ang told the BusinessMirror. “Our trade [performance is] dependent on the global value chain [GVC].”

Ang said he hoped that China, which has been improving its factory output, would be able to increase the country’s chances of improving See “Exports,” A2

HE Department of Finance (DOF) has already secured a total of $8.131 billion or roughly P398.7 billion in loans and grants from foreign lenders while the country is still fighting the Covid-19 pandemic.

According to the updated list as of Wednesday, August 5, the DOF has raised $7.63 billion or about P374 billion in budgetary support financing, including the proceeds from the sale of $2.35-billion dollar-denominated global bonds.

Of the $7.63-billion budgetary support financing, $6.26 billion or about P306.96 billion has been disbursed to the government.

Meanwhile, $496.36 million or roughly P24.34 billion in grant and loan financing has been provided in support of various projects to be implemented by agencies involved in the government’s Covid-19 response.

Of the total financing of $8.131 billion, six came from Manilabased Asian Development Bank, five from Washington-based World Bank, two from Agence Française de Développement (AFD) of France, two from Japan, including the $458.95-million Covid-19 Crisis Response Emergency Support Loan, and $18.36 million nonproject grant aid from the Japanese government, and one from China-led Asian Infrastructure Investment Bank.

Finance Undersecretary Mark Dennis Y.C Joven, who heads the DOF’s International Finance Group, earlier said the government intends to tap a total of $8.6 billion (about P421.8 billion) this year, which will essentially be used to fund the government’s fight against the pandemic.

The government borrows mostly from the local debt market and the rest from external sources to finance its spending requirements and to cover its budget deficit, especially at this time that the gap is expected to more than double to P1.613 trillion or 8.4 percent of GDP from only P660.2 billion or 3.4 percent of GDP in 2019.

The national government’s budget deficit for the first half of the year soared to P560.4 billion, nearly matching the entire 2019 budget deficit. This was also a 13-fold increase from P42.6 billion as of endJune last year.

A budget deficit occurs when expenditures exceed revenues.

Due to the Covid-19-induced lockdown which caused a slowdown in economic activity, government revenues dropped despite the need for increased spending.

The country’s debt-to-GDP ratio, which is used to gauge the country’s ability to pay its debts, is also seen to increase to 49.8 percent this year from 39.6 percent last year.

Despite the projected increase in the country’s debt-to-GDP ratio, the government had said this is still far lower than the most recent peak of 71.6 percent in 2004.

As of end-June, the national government’s outstanding debt has already breached the P9-trillion mark from P7.869 trillion in the same period in 2019.

MECQ blunts manufacturing’s mild rise in June

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ESPITE the improvement in the country’s manufacturing performance in June, the National Economic and Development Authority (Neda) believes this may be short-lived as the National Capital Region and Calabarzon returned to modified enhanced community quarantine (MECQ) in August.

Data released on Wednesday by the Philippine Statistics Authority (PSA) showed the country’s manufacturing output contracted 19.3 percent in June, an improve-

ment from the contraction of 28.5 percent in May. In June 2019, the Volume of Production Index (VoPI) contracted 9 percent.

In a statement, Acting Socioeconomic Planning Secretary Karl Kendrick T. Chua said while this showed “slight improvements,” economic activities—including manufacturing production—will remain limited, especially with the MECQ.

NCR and the Calabarzon area are the primary drivers of the Philippine economy for a reason.

These regions are where busi-

PESO EXCHANGE RATES n US 49.1140

nesses, including manufacturing firms, are located.

“The return to MECQ in these areas is a difficult but important decision. Although this is expected to weigh down on the economy in the short term as resumption of business operations is limited, this will give our health system some respite amid the recent rise in Covid-19 cases. It will also help improve productivity in the near term as more lives are saved and consumer confidence restored,” Chua said.

In order to ease the impact of the MECQ on industries, Chua said there should be strict enforcement of containment measures by both government and the private sectors.

If the government and private sector cooperate, the government can gradually reopen the economy to ensure that jobs and incomes are protected.

He added that the government also aims to help improve the resilience of business establishments under the new normal.

See “MECQ,” A2

POLICEWOMAN trainees guard residents of San Andres Bukid in Manila to enforce social distancing, as they line up to buy essential needs at Dagonoy market on Wednesday. Metro Manila is back under modified enhanced community quarantine until August 18. ROY DOMINGO

n JAPAN 0.4645 n UK 64.1871 n HK 6.33733 n CHINA 7.0416 n SINGAPORE 35.7609 n AUSTRALIA 35.1509 n EU 57.9447 n SAUDI ARABIA 13.0988

Source: BSP (August 5, 2020)

News BusinessMirror

A2 Thursday, August 6, 2020

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BSP to keep policy rates despite slight uptick in inflation–analysts

T

By Tyrone Jasper C. Piad

HE Bangko Sentral ng Pilipinas (BSP) is likely to pause the easing of key policy rates this month despite the slight uptick in the recent inflation figure, analysts said.

Economists interviewed by the BusinessMirror noted that inflation has remained steady, which could encourage the Central Bank to hold off trimming the interest rates.

“Core inflation has been steady and has actually been above headline inflation for more than 16 months now. Core inflation is considered to be a longer-term indicator of headline trends,” UnionBank Chief Economist Ruben Carlo O. Asuncion said.

The Philippine Statistics Authority reported on Wednesday that headline inflation inched up

to 2.7 percent in July from 2.5 percent in the previous month due to increase in transport prices, among others, which Asuncion deemed as temporary only.

The UnionBank economist explained that the transport price uptick for the period might just be the result of the economy adjusting to a new normal as it reopened in the last two months.

“Thus, I am more likely on the hold side rather than the easing choice, at this point,” he said.

He added that the liquidity level in the economy was still “quite high” to consider additional

rate cuts. The BSP reported in July that it has released P1.3 trillion worth of liquidity into the financial system.

ING Bank Manila Economist Nicholas Antonio T. Mapa, meanwhile, said the “still wellbehaved dynamic of inflation will likely translate to a long pause.” In an earlier briefing, Mapa said he was expecting the BSP to maintain the current policy rates until the last quarter of next year.

Mapa noted that BSP Governor Benjamin E. Diokno previously said that policy rates would be unchanged for at least two quarters.

He said that the Central Bank might refrain from cutting key rates to prevent them from “falling too deep into negative territory.” The BSP’s inflation-adjusted policy rate currently stands at -0.45 percent.

In June, the country’s real policy rate was already the lowest among its neighbors in the Asean

region at -0.25 percent, according to a report by the Philippine National Bank.

RRR cut

WHILE trimming key interest rates may be off the table for now, RCBC Chief Economist Michael L. Ricafort said that the BSP might slash the reserve requirement ratio (RRR) of the banks instead to inject more liquidity into the economy.

“Inflation at a six-month high of 2.7 percent in July 2020 is already further above the local policy rate of 2.25 percent, a record low, thereby making it a bit tougher to further cut local policy rates at the moment [though this is not completely ruled out], so further cut/s in banks’ RRR may be more possible,” he explained.

Still, Ricafort said that the two-week modified enhanced community quarantine and bigger contraction in the country’s economic growth could lead to

further monetary easing measures.

The Monetary Board in June trimmed the interest rate on the BSP’s overnight reverse repurchase facility by 50 basis points (bp) to 2.25 percent, bringing deposit and lending rates to 1.75 percent and 2.75 percent, respectively.

Last month, the BSP reduced the RRR for thrift, rural and cooperative banks by 100 bp effective July 31. This is seen to release P10 billion worth of fresh liquidity infusion into the economy.

This, after approving the cut in the reserve requirements of universal/commercial banks and nonbank financial institutions with quasi-banking functions by 200 bp as well.

The reserve requirement is the part of the total deposit balance that banks secure in the BSP’s vaults as reserves. Reducing it means banks have more available funds for borrowings.

MECQ… Continued from A1

This will be done by providing technical assistance on business continuity planning and capacity building on new competencies, such as digital skills, digitalizing operations, and entrepreneurial mentoring, among others.

“The administration will pursue the swift passage of the Bayanihan II bill.

The bill allocates P50 billion to government financial institutions as capital infusion for the grant of low-interest loans and credit guarantees to micro, small and medium enterprises,” Chua said.

“It will also support strategically important and distressed firms. The bill also allocates P90 billion to support the healthcare system and the hardest hit sectors through targeted subsidies,” he added.

Based on the Monthly Integrated Survey of Selected Industries (Missi), the PSA reported that apart from the VoPI, the year-on-year Value of Production Index (VaPI) fell by 22.5 percent.

Neda said that based on this data, the three-month moving average growth rate of VoPI was -28.9 percent and VaPI, -31.6 percent. Neda said this is significantly lower compared to the previous month’s average of -24.9 percent for VoPI and -28.1 percent for VaPI.

The Acting Secretary said the slight improvement was due to the slower decline in the construction-related manufactures compared to the previous month.

This, Neda said, could be due to the easing of community quarantine measures across the country. This made possible the continuation of several public and private construction projects (e.g., quarantine and isolation facilities, rehabilitation works, sewerage projects, water service facilities and digital infrastructure, among others).

Further, Neda said construction activities were allowed to resume subject to minimum public health standards and social-distancing measures in the workplace. Cai U. Ordinario

Exports…

Continued from A1

its trade numbers, especially with Philippine electronic exports posting only a contraction of 10.4 percent.

But the trade sector’s recovery will still depend on the government’s response, Ang said. “Other value chain suppliers might get the electronics market like Vietnam and Thailand and Malaysia.”

Watch China–Oplas

DE La Salle University economist Maria Ella C. Oplas told this newspaper on Wednesday that China is really the trade partner to watch at this time.

Oplas said the Philippines still heavily relies on China for its exports and imports. This is especially the case now since it has been experiencing an outflow in its investors.

At this point, the Philippines can only hope to attract more foreign companies, including those leaving China. This will boost the country’s foreign direct investments and GDP growth.

“As of June 2020 China is still our major trading partner in terms of exports. Given this, we have to be on the lookout considering the recent outflow of investors from China. It could greatly affect our exports,” Oplas said. “The same goes for imports.”

UnionBank Chief Economist Ruben Carlo O. Asuncion agreed that the Philippines was “not out of the woods” yet when it comes to its lackluster trade performance.

While the recent data pointed toward some recovery, Asuncion said the Purchasing Managers Index (PMI) in July indicates further contraction in the coming months.

The recent decision to impose modified enhanced community quarantine (MECQ) will also affect the country’s trade performance, Asuncion added.

“These mixed signals do not readily tell me that we are finally out of the woods, especially with the shift back to tighter containment measures in NCR [National Capital Region] and Calabarzon this month,” Asuncion said.

Foundation for Economic Freedom (FEF) President Calixto V. Chikiamco told the BusinessMirror, however, that trade performance may improve toward the end of 2020, driven by the Christmas season and the gradual reopening of the economy. But these will not be enough to pull up the country’s GDP growth this year.

“Positive growth this year? That’s impossible. More likely, full-year GDP will contract by 7 percent or more. As for the steep drop in imports, that may be indicative of the severity of the recession,” he said.

Neda: Slower contractions pace

MEANWHILE, the National Economic and Development Authority said trade flows to most of the country’s major trading partners remained in negative territory but contractions were at a slower pace compared to previous months.

Exports of goods to the European Union improved largely by 25 percentage points, while the progress in East Asia and Asean continued as contraction narrowed by almost 18 percentage points from the previous period.

“As Asean countries account for more than 15 percent of the country’s total exports, the contraction in these countries’ GDP would need to be closely watched as further drop in their economies could affect trade flows and may reverse the improvements in trade observed during the period,” Acting Socioeconomic Planning Secretary Karl Kendrick T. Chua said in a statement.

Continued on A3

News BusinessMirror

www.businessmirror.com.ph

Thursday, August 6, 2020 A3

Lebanese confront devastation after massive Beirut explosion

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EIRUT— Residents of Beirut confronted a scene of utter devastation on Wednesday, a day after a massive explosion at the port rippled across the Lebanese capital, killing at least 100 people, wounding thousands and leaving entire city blocks flooded with glass and rubble.

Smoke was still rising from the port, where a towering building of silos was half destroyed, spilling out mounds of grain. Hangars around it were completely toppled. Much of the downtown area was littered with damaged vehicles and debris that had rained down from the shattered façades of buildings.

An official with the Lebanese Red Cross said at least 100 people were killed and more than 4,000 were wounded. George Kettaneh said the toll could rise further.

It was unclear what caused the blast, which appeared to have been triggered by a fire and struck with the force of an earthquake. It was the most powerful explosion ever seen in the city, which was split in half by the 1975-1990 civil war and has endured conflicts with neighboring Israel and periodic bombings and terror attacks.

Scores of people were missing, with relatives pleading on social media for help locating loved ones.

An Instagram page called “Locating Victims Beirut” sprang up with photos of missing people, and radio presenters read the names of missing or wounded people throughout the night. Many residents moved in with friends or relatives after their apartments were damaged and treated their own injuries because hospitals were overwhelmed.

ETERNAL GARDENS CELEBRATES FEAST DAY

The Transfiguration of Jesus in the time of the pandemic

C IN this drone picture, the destroyed silo sits in rubble and debris after an explosion at the seaport of Beirut, Lebanon, August 5, 2020. The massive explosion flattened much of the city’s port, damaging buildings across the capital and sending a giant mushroom cloud into the sky. AP/HUSSEIN MALLA

Lebanon was already on the appeared the blast was caused by the brink of collapse amid a severe ecodetonation of more than 2,700 tons nomic crisis that has ignited mass of ammonium nitrate that had been protests in recent months. Its health stored in a warehouse ever since it system is confronting a coronavirus was confiscated from a cargo ship surge, and there were concerns the impounded in 2013. virus could spread further as people Explosives experts and video flooded into hospitals. footage suggested the ammonium There was no evidence the exnitrate may have been ignited by a plosion was an attack. Instead, many fire at what appeared to be a nearby Lebanese blamed it on decades of corwarehouse containing fireworks. ruption and poor governance by the Ammonium nitrate is a comentrenched political class that has mon ingredient in fertilizer as well ruled the tiny Mediterranean country as explosives. It was used in the since the civil war.

Oklahoma City bombing in 1995, Saint George Univerwhen a truck bomb con2 OFWs DIE, sity Hospital, one of the taining 2,180 kilograms 12 MISSING major private hospitals in of fertilizer and fuel oil AFTER BEIRUT Beirut which had been reripped through a federal EXPLOSION ceiving Covid-19 patients, building, killing 168 peowas out of commission ple and wounding hun(Story on page A12) Wednesday after suffering dreds more. major damage. A physician forc Security who identified himself as Dr. Emile es cordoned off the port area on said 16 staff and patients, including Wednesday as a bulldozer entered four nurses, died in the blast. He deto help clear away debris. A young clined to give his last name out of priman begged troops to allow him to vacy concerns. enter and search for his father, who

The blast also wounded a numhas been missing since the blast ocber of UN peacekeepers stationed in curred. He was directed to a port ofthe area. Bangladesh said 21 memficial who wrote down his details. bers of its Navy were wounded, one In Beirut’s hard-hit Achrafieh critically. Italy, one of the top condistrict, civil defense workers and tributors to the UNIFIL mission, soldiers were working on locating said one of its soldiers was wounded. missing people and clearing the rub Interior Minister Mohammed ble. At least one man was still pinned Fahmi told a local TV station that it under stones from an old build-

ing that had collapsed. Volunteers hooked him up to an oxygen tank to help him breathe while others tried to free his leg.

The blast severely damaged numerous apartment buildings, potentially leaving large numbers of people homeless at a time when many Lebanese have lost their jobs and seen their savings evaporate because of a currency crisis. The explosion also raises concerns about how Lebanon will continue to import nearly all of its vital goods with its main port devastated.

Prime Minister Hassan Diab, in a short televised speech, appealed for international aid, saying: “We are witnessing a real catastrophe.” He reiterated his pledge that those responsible for the disaster will pay the price, without commenting on the cause.

There is also the issue of food security in Lebanon, a tiny country already hosting over 1 million Syrians displaced by that country’s nearly decade-long civil war.

Drone footage showed that the blast tore open a cluster of towering grain silos, dumping their contents into the debris and earth thrown up by the blast. Some 80 percent of Lebanon’s wheat supply is imported, according to the US Agriculture Department.

Estimates suggest some 85 percent of the country’s grain was stored at the now-destroyed silos. AP

Food, utility prices, fares seen rising Continued from A1

‘Still weak demand’

MEANWHILE, ING Bank Manila Senior Economist Nicholas T. Mapa said the 2.7 percent still represented weak economic demand since this is still at the midpoint of the BSP target.

With this, he expects the BSP to keep interest rates on hold at their next policy meeting. Mapa said the low inflation may lead to a “long pause for Governor [Benja-

min] Diokno.”

“I continue to expect growth to remain challenged over the next few quarters with Covid-19 cases still on the rise. Weak economic growth will likely force inflation to remain below the 3-percent midpoint over the next few months,” Mapa said.

Efforts

WITH Metro Manila and nearby provinces reverting to MECQ, Chua also highlighted the need to prevent a recurrence of supply

chain disruptions, especially for food supplies and basic necessities.

Chua also stressed the need to support farmers’ access to disaster-resilient farm technologies, cold storage facilities, and support for crop insurance and diversification to help the agriculture sector.

The country expects more heavy rains and typhoons in the succeeding months.

“We need to ensure a smooth functioning of checkpoints, continued implementation of food resiliency protocols,

extended provision of mobile markets, and constant encouragement on the use of digital marketing platforms, especially in the areas where MECQ was reimposed,” Chua said.

“We also need to guard against the spread of animal-borne diseases through strengthened border control and phyto­ sanitary measures and be well-prepared for upcoming typhoons this year to prevent loss of lives and mitigate damage to the economy,” he added. Cai U. Ordinario

HRISTIANS celebrate on August 6 (Thursday) the Feast of the Transfiguration of Jesus, believed by the Church as unique among other miracles in the Bible as it happens to Jesus Himself.

For Thomas Aquinas, one of the greatest scholars of the Catholic Church, the Transfiguration is “the greatest miracle” in that it complemented baptism and showed the perfection of life in Heaven.

Leading memorial care company Eternal Gardens is likewise unique among business groups in having dedicated itself to the popularization of the Transfiguration and its offer of a foretaste of the perfection of life in Heaven.

Its corporate slogan—A Glimpse of Heaven on a Patch of Earth—aptly expresses the promise that the Transfiguration event offers to the faithful.

Its promise of deliverance from life’s afflictions is especially significant at this time, when Filipinos and the rest of mankind all over the world face the challenge of the coronavirus disease pandemic and other hardships. The Transfiguration assures that with faith in the heart, mankind can look forward to its own transfiguration to a healed world.

The Transfiguration image looms high as the corporate symbol of Eternal Gardens over its 11 memorial parks in key places in Luzon and as far as Cagayan de Oro in Mindanao. The image, crafted by National Artist Napoleon Abueva for the maiden park in Baesa, Caloocan, was personally executed by him for that first park and later for two other parks in the cities of Cabanatuan and Santa Rosa.

Other notable artists would execute the image of Christ Transfigured following the original design of Dean Abueva. Amado Castrillo did the images in the second park in Dagupan in 1983, the company’s first expansion outside Metro Manila; the third in Biñan, Laguna in 1984; barangay Balagtas, Batangas City, in 1986; Lipa City in 1992; and farther south in Naga City in 2000. The Transfiguration at Eternal Gardens Cabuyao, the company’s newest park, is a work of leading sculptor Conrado F. Balubayan. Balubayan also made the image in Cagayan de Oro City.

All these renderings of the Transfiguration have made it an outstanding landmark in the places hosting the parks.

Eternal Gardens founder Ambassador Antonio L. Cabangon Chua, in setting up the first Eternal Gardens in Baesa, Caloocan, in 1976, had an inspired idea to put up a monument of Christ to set his park apart from the others. Equally inspired was his choice of Dean Abueva to design and execute the image. The National Artist is known to have a deep religious faith that made him try to give to every church or religious organization that would approach him.

His wife Dr. Cherry once said that while in the middle of several sculptural commissions, Dean Abueva would drop these projects if any Catholic organization or parish would ask him for a new sculpture for their church. Friends and employees in the ALC Group of Companies would agree that this description of how the Dean lived his faith aptly fits the ways of their founder and Chairman Emeritus as well.

The Transfiguration of Jesus is recorded in three of the four Gospels: Matthew 17:1-9; Mark 9:2-8; and Luke 9:28-36. According to these accounts, Jesus took the apostles Peter, James and John with Him up upon a mountain, and while they were on the mountain, Christ was transfigured. His face shone like the sun, and His garments became glistening white. As Christ was transfigured, two others appeared with Him: Moses, representing the Old Testament Law, and Elijah, representing the prophets. Thus Christ, who stood between the two and spoke with them, appeared to the disciples as the fulfillment of both the Law and the prophets.

Those with him were surprised, shocked and taken aback. Once composed, Peter utters the famous words, “Lord, it is wonderful for us to be here”. But more important than what was said is what they heard: “This is my Son, the beloved, he enjoys my favor, listen to him”.

These were the same words that God the Father was heard to proclaim at the baptism of Jesus in the river Jordan, affirming His divinity even as He assumed human nature.

The faithful believe that by His transfiguration, Jesus intended to strengthen the faith of His apostles at the time of His approaching earthly death by giving them a foretaste of His resurrection. At the same time, the brightness of His appearance reflected His true divine nature.

This article of faith is as much meant for the country and the whole world today, as communities cope and struggle to survive today’s pandemic crisis. Mankind is bombarded by news all the time, what with 24-hour news on radio and television, the internet and other communication mediums. They are filled with news, but not all of it good news.

The Transfigurations gives us a brief and fleeting glimpse of Jesus in all His glory. It is a taste of what is to come. It reminds us that our lives are far more than what we see, hear and experience every day. It is not just a matter of getting through the day. Being a follower of Jesus is about living with meaning, purpose and hope.

Eternal Gardens underscores the meaning of this feast day yearly by celebrating the Holy Mass at its branches. But because of the pandemic, the branches will instead sponsor Holy Masses at their respective parishes this year to mark the Feast of the Transfiguration and to remind all Eternalites, their friends and supporters of its important message.

Amid hint of recovery, exports still at risk Continued from A2

Chua agreed with economists in saying that the decline in merchandise exports can also be partly due to demand factors, particularly how the Philippines’s trading partners are faring economically.

“With restricted mobility and economic activity due to the global pandemic, GDP growth is negatively affected. Our major trading partners’ GDP has declined in the second quarter of the year, resulting in a reduced appetite for imported goods. This has led to lower

demand for Philippine exports,” the Neda chief said.

Chua also shared his reservations in terms of trade performance, particularly in light of the MECQ over the country’s major economic drivers—Metro Manila, Bulacan, Cavite, Laguna and Rizal.

This, he said, temporarily affects businesses and the workforce as certain sectors need to scale back or temporarily suspend operations.

Still, government efforts will continue to focus on realizing structural reforms and supporting

needed legislations to ensure that businesses are supported as the economy recovers, he said.

“The two-week MECQ will allow the government to reassess approaches, procedures, and response protocols and capacities that may need to be improved to better contain the spread of the virus while ensuring that the gains from reopening the economy are not fully reversed,” Chua said.

PSA data

BASED on PSA data, total export earnings declined to $5.33 billion

in June 2020 from $6.15 billion in June 2019. However, the June 2020 figure was better than the $4.53 billion posted in May 2020.

Total import receipts only reached $6.63 billion in June 2020, lower than the $8.79 billion in June 2019. In May 2020, total imports reached $5.85 billion.

With this, the country’s total export earnings reached $12.699 billion in the April to June period while the country’s import bill amounted to $15.77 billion in the same period this year.

Electronic products continued

to be the country’s top export with total earnings of $3.18 billion.

This amount, which accounted for 59.6 percent of the total exports in June 2020, decreased annually by 10.4 percent, from $3.55 billion in June 2019.

This commodity was also the country’s top import valued at $2.04 billion, contributed the highest share of 30.8 percent to the total imports in June 2020.

Import value for electronic products, however, declined by 14.6 percent in June 2020, from $2.39 billion in June 2019.

Major trade partner

MEANWHILE, by major trading partner, exports to the People’s Republic of China comprised the highest value, at $891.58 million during the month. Exports to this country increased by 2.8 percent, from $867.28 million in June 2019.

Beijing was also the country’s top import source in June 2020, with a 23.7-percent share in total imports in June 2020.

The import value from China amounted to $1.57 billion during the month, from $1.99 billion in June 2019.

A4 Thursday, August 6, 2020 • Editor: Vittorio V. Vitug

The Nation BusinessMirror

Lorenzana: New AFP chief sought ‘dark net,’ not social-media control

I

By Rene Acosta

@reneacostaBM

T is the “dark net”—not the social media— which newly installed Armed Forces Chief of Staff Lt. Gen. Gilbert Gapay wants to regulate under the implementing rules and regulations (IRR) of the Anti-Terrorism law, Defense Secretary Delfin N. Lorenzana clarified on Wednesday.

The defense chief issued the clarification after Gapay’s statement on the regulation of social media, which the military official favored to be included in the still being crafted IRR, stirred criticisms from certain quarters that include Sen. Franklin M. Drilon.

“I asked Gen. Gapay yesterday [Tuesday] what he meant because I was likewise surprised to hear him say it during our press con after he was installed as CSAFP [Chief of Staff, Armed Forces of the Philippines]. He said his explanation was incomplete,” Lorenzana said.

“According to him he meant the dark net, that clandestine network that peddles drugs, traffic people, sells guns and explosives, hire assassins and other illegal activities. But even this

[the dark net] is difficult to regulate because it is underground and operates illegally,” he added.

Lorenzana said that Gapay pointed out that the dark net is also being used to “recruit and plan terroristic acts.”

Even the defense secretary is not in favor of regulating the social media and its inclusion in the IRR of the Anti-Terrorism Act of 2020.

“No, the ATL [anti-terrorism law] should not regulate social media. It is not part of its mandate and it would violate freedom of speech and discourse,” he said.

During his virtual news briefing with Lorenzana after he was installed as chief of staff on Monday, Gapay wanted the social media to be included under the coverage of the new law’s IRR, citing

how it has been used by IS-allied groups in Mindanao to recruit fighters.

“We’ll be providing some inputs on countering violent extremism, and likewise, maybe regulating, even regulating social media because this is the platform now being used by the terrorists to radicalize, to recruit and even plan terrorist acts,” Gapay said during the news briefing.

“That’s why we need to have to specific provisions of this in the IRR pertaining to regulating the use of social media, and of course, likewise regulating materials in the manufacture of IEDs [improvised explosive devices],” he added.

But again, as Lorenzana said, Gapay’s explanation was incomplete during the briefing.

Reacting to his statement, Drilon, who voted in favor of the anti-terrorism law, said the new law could not be used to regulate the social media since it would violate the constitutionally guaranteed freedom of speech, stressing the IRR cannot alter the law.

“That will go beyond the real intent of the law, and therefore, it is illegal and unconstitutional.

Freedom of speech is a sacred and inviolable right of every human being. The Constitution guarantees freedom of speech,” Drilon said.

Full understanding of the law is already being cascaded down to the local level, with military and police officials taking steps to educate local officials with the help of lawyers and advocates.

www.businessmirror.com.ph

Sobejana, of PMA Class 1987, Medal of Valor awardee takes top Army post

A

V ETER A N of the militar y’s anti-terror ism campaign in M i nd a n ao a nd one of t he more “ famous” members of Philippine Militar y Academy Class of 1987 formally assumed the helm of the Army’s leadership on Tuesday.

Lt. Gen. Cirilito Sobejana was installed as the new commanding general of the Army from his previous post as commander of the Armed Forces Western Mindanao Command during a ceremony at the Army headquarters in Fort Bonifacio, Taguig City.

Sobejana, a Medal of Valor awardee, succeeded Lt. Gen. Gilbert Gapay, who assumed as chief of staff of the Armed Forces of the Philippines (AFP) on Monday, replacing retired Gen. Felimon Santos Jr. The new Army commander is the only second Medal of Valor awardee after Lt. Gen. Arturo Ortiz, who also led the Army during the term of former President Noynoy Aquino III. “We are gathered here to witness this event, the changing of the guard of the Philippine Army, the premier service of the AFP,” Defense Secretary Delfin Lorenzana said during the ceremony.

“Expectations will be high on both.

The command will be looking at the new commander for leadership and inspiration. The commander, on the other hand, will be expecting no less than full cooperation from his men,” he added.

Sobejana is known for his exploits as a battle-scarred soldier and is considered as one of the country’s living heroes for his Medal of Valor award, the highest military honor bestowed for “demonstrating bravery and sacrifice above and beyond the call of duty.”

As a junior officer, he had commanded different units of the 1st Scout Ranger Company and the 3rd Scout Ranger Battalion, units adjudged as Best Company and Best Battalion, respectively, during Sobejano’s stint.

He had also served as the commandant of the Scout Ranger Training School.

Sobejana also commanded the Joint Task Force Sulu, the 6th Infantry Division and the Western Mindanao Command, which were all recognized as the best units under his helm.

The Army commander is known for leading the Rangers in hours of a bloody and decisive fight with an overwhelming number of Abu Sayyaf Group members in Basilan in 1995. Rene Acosta

Frenzied search for missing OFW after mega blast hits Beirut port continued from a12

There are 31,916 OFW in Beirut, although there used to be about 33,000, many of them illegals. So far, 1,500 OFWs have been repatriated following the loss of their jobs—the pandemic’s impact—between December 2019 and June 2020.

Arriola said the two dead OFWs would be brought home, along with the 230 OFWs scheduled for repatriation this weekened, “or cremated in Lebanon, depending on the decision of the relatives of the deceased.”

“The DFA is ready to provide assistance to most of our workers who are undocumented,” Arriola said, adding the number of illegal workers had increased when the Philippines stopped deploying

OFWs since the war.

“Many of these illegal workers were also trafficked,” she added.

According to Arriola, they would request for an emergency response team, “once we see the need.” The DFA stands ready to take care of all Filipinos, but she said they always coordinate with other agencies to check the accuracy of information on Filipinos.

“This is a one-country team approach,” she explained, adding the OFWs could also get in touch with the Overseas Workers Welfare Administration (OWWA) in Lebanon.

She said the DFA will issue a bulletin every four to six hours to be able to assist the OFWs, but due to Covid-19, “our personnel have to go out with caution.”

‘Kuya Eddie’ Ilarde, radio-TV host, senator bids goodbye continued from a12

He further established his foothold in the broadcast industry through a variety of “firsts,” that included: The Eddie Ilarde Show,the country’s first musical variety program (1959-1962); Kahapon Lamang, the first TV drama anthology and public service-oriented program (started in 1955; 1976-1986); Yagit, the first TV soap opera, about the twists and turns in the lives of child scavengers (mid-80s); and Student Canteen, the first student/youth talent search (19581965; 1975-1986).

Politics

ILARDE is perhaps the first radio-and-television personality to accomplish a successful crossover to the realm of politics.

In 1963, he got elected as the No. 1 councilor in Pasay City. Two years later, in 1965, he won as congressman in the first district of Rizal.

As congressman he authored the Police Reform Act of 1966 and the Rent Control Law. He led in the creation of the National Telecommunications Commission.

It is not surprising that during his stint in the Lower House, Ilarde was hailed as one of the 10 outstanding congressmen of the Sixth Congress.

Come 1971, Ilarde made his bid for the Senate. Almost three months before election day, he figured in and suffered a leg injury in the now infamous Plaza Miranda bombing.

Despite being unable to campaign during the last leg of the campaign, Ilarde landed No. 4 in the senatorial elections of that year.

But then martial law was declared in 1972 and Congress was abolished.

Ilarde made a political comeback in 1978 and won as assemblyman in the National Capital Region. There, he became the author of the “Ilarde-de Vera hospital deposit law.”

This law prohibited hospitals from demand-

ing cash deposits for emergency cases.

He is also credited for being the first to propose the creation of the Department of the Interior and Local Government (DILG).

He, likewise, advanced the Anti-Piracy Law and was the original author of the “Total Gun Ban” bill.

Ilarde also served as founding chairman of the Maharlika Foundation for national transformation. The values-oriented, non-profit organization sought to “redeem our noble past by adopting the name, ‘Maharlika,’ instead of the ‘Philippines’ as the name of our country.”

A committed public servant and family man, Ilarde and his wife of more than 60 years have seven children, 13 grandchildren, and one beautiful great granddaughter.

Seniors

LAST year, he continued to host his radio program, “Kahapon Lamang,” aired every Saturday and Sunday, from 1:30 to 2:30 pm at radio station DZBB. In between his radio host chore, Ilarde authored the Book of Seniors and founded the Golden Eagles Society International in 2003.

The organization claims to be the biggest organized group of Filipino senior citizens with a membership of 3,000.

In 2018, Ilarde was the recipient of the Ambassador Antonio L. Cabangon Chua Award— the highest recognition given to “living legend” senior citizens at the Dangal Awards, an annual recognition of outstanding senior citizens, founded by the BusinessMirror, Unilab, Ritemed Philippines, and the United Bayanihan Foundation.

That year, I interviewed him for the BusinessMirror and his first comment was, “Anak ka pala ni Clem.” Right that moment, I became a child again, awed by this charismatic broadcaster that many of us now know as Kuya Eddie.

www.businessmirror.com.ph

Economy BusinessMirror

Pandemic may delay poor Pinoys’ middle class aspiration by 25 years–PIDS study

By Cai U. Ordinario

@caiordinario

I

F household incomes were to fall by 20 percent, it may take nearly a quarter of a century for poor Filipinos to reach middle-income status, according to a study released by the Philippine Institute for Development Studies (PIDS).

In a study, titled Poverty, the Middle Class, and Income Distribution amid Covid-19, PIDS Senior Research Fellows Jose Ramon G. Albert, Michael Ralph M. Abrigo, and Francis Mark A. Quimba as well as Research Specialist Jana Flor V. Vizmanos said such could be an indication that the country will miss its longterm vision in 2040.

Under the AmBisyon2040, Filipinos would like to reach middle-income status in 25 years. The data, collected in 2015 and made public in 2016, showed that 79.2 percent of Filipinos wanted a “simple and comfortable life.”

“That’s what the simulation suggests,” Albert told the BusinessMirror on Wednesday. “Unless government has a concrete recovery plan that will put income growths much higher than the 2015-2018 growth.”

Under the worst-case scenario where incomes contract by 20 percent, notwithstanding the financial assistance to the bottom 90 percent of households, the average time it would take for a poor household to reach middle income is 24 years, three years longer than expected on the assumption that incomes rise 2.5 percent annually.

Under the medium-case scenario where there is a 10-percent income reduction in the wake of the Covid-19 pandemic and effective social protection, the average transition time increases, but only by a quarter of a year from the baseline scenario.

The authors estimated that given a Vshaped recovery and a growth rate of real income per capita of 2.5 percent per year, a low-income person transitioning into middle class in approximately 21.2 years if this growth rate in incomes were continuous and uniform across the population.

“For lower growth rates that could happen under a prolonged stress, i.e. if a W-, U- or L-shaped recovery results, then the transition of the low income to middle class will even take much longer, even with the current cash assistance by the national government to most households,”

the authors said.

The researchers noted, however, that based on the annualized growth rates of household income per capita in the Philippines among the bottom 40 percent of the population was 1.8 percent between 2012 and 2015, and 3.5 percent between 2015 and 2018.

Based on the authors’ estimates, if household per-capita incomes increases by 0.5 percent a year and a 1-percent gross domestic product (GDP) per-capita growth every year, it will take 119.4 years for low-income households to reach middle-income status.

In contrast, if household per-capita income grows 10 percent annually and GDP per capita grows 20 percent annually, it will take poor households only 5.97 years to transition to middle-income status.

“Prior to onset of Covid-19, incomes grew by around 2.5 percent per year for the bottom 40 percent so if there would be a V-shaped recovery, then the effect of reduced incomes of 10 percent this year with the SAP [Social Amelioration Program] would be to increase transition time of low income to middle class by half a year,” Albert said. “With lower growth, then transition time would be longer.”

In order to help the poor transition to middle-income status, the authors said the government should ensure that the poor are at the center of policy-making.

This is especially the case with the reduction of economic activities caused by Covid-19. This has not only affected the poor’s livelihood but likewise affected many poor individuals and households.

The authors said the poor do not have the access to health care due to high costs, as well as frequent handwashing given their low access to safe water and safe sanitation services.

“These vulnerable groups often have meager savings to cushion them against sustained economic disruptions, and may have even little protection against other related shocks, such as job losses, and food insecurity. Their recovery may be challenging compared to those in higher income groups,” the authors said.

The researchers also said social protection should also be treated as the core of government policy, even in times when there is no pandemic.

PSA revises Q1 growth figures

T

HE Philippine Statistics Authority (PSA) has revised the country’s first-quarter economic growth performance downward with additional data inputs from the private sector.

PSA revised data showed first quarter performance contracted 0.7 percent in the January-to-March period. This is lower than the contraction of 0.2 percent estimated in May 2020.

The agency said it revises the GDP estimates based on an approved revision policy that is consistent with international standard practices on national accounts revisions. “[The revision was] due to data updates, [we have] more data this time. [The] revised [estimates] now[contain]96percent[oftheavailable data, higher than the] 75 percent to 80 percent included in the preliminary estimates,” PSA Assistant National Statistician Vivian R. Ilarina told the BusinessMirror on Wednesday.

These data, Ilarina said, included more financial statements obtained from corpora-

tions. The additional data was also obtained from the results of the recent PSA surveys that were conducted.

PSA said due to the revisions, the growth rates of Net Primary Income (NPI) from the rest of the world was revised downward to a contraction of 5.9 percent from the initial estimate of a decline of 4.4 percent.

Further, the Gross National Income (GNI) also recorded downward revisions to a contraction of 1.2 percent from the initial estimate of a contraction of 0.6 percent.

“The top contributors to the downward revision were REOD [Real Estate and Ownership of Dwellings], Human Health and Social Work, Other services,” Ilarina said via SMS. Based on PSA Board Resolution 1, Series of 2017-053, the PSA assumed all the powers and functions of the agencies that were merged to create it—the National Statistics Office; National Statistical Coordination Board; Bureau of Agricultural Statistics; and Bureau of Labor and Employment Statistics. Cai U. Ordinario

Lawmaker calls for national unity, prayer in Covid fight

A

KO Bicol party-list Rep. Elizaldy S. Co on Wednesday appealed for unity and prayer as the country’s leaders and frontliners wage war against the Covid-19 pandemic.

In a news statement, Co said national unity is imperative to survive a crisis that has reached alarming levels with more than 112,000 positive Covid-19 cases as of Tuesday, August 4, 2020. The Department of Health also recorded 6,352 new positive cases, the biggest increase in a single day.

“At no other point in our recent history do we need to stand together to fight a common, yet invisible enemy. Let’s heed and help our medical experts and frontliners by staying home, wearing protective gear and frequent handwashing. Most of all, we should fervently pray for national healing,” he said.

“Let us also pray for our leaders, especially President Rodrigo Duterte, his Cabinet and members of the Inter-Agency Task Force on Emerging Infectious Diseases. They, too, need help and guidance in facing a pandemic no one has prepared for,” he added.

While the national Covid-19 response is not perfect, the lawmaker said President Duterte deserves much credit for distributing aid, providing treatment for the sick and maintaining law and order. “A weaker leader would have buckled down under tremendous pressure. If it were not for the President’s laser focus on security, we could be in the brink of chaos and riots with the growing number of hungry people locked down by the pandemic,” he said.

Editor: Vittorio V. Vitug • Thursday, August 6, 2020 A5

DA’s Dar takes DOF chief’s ‘dare’ for 2% yearly growth in agri sector

By Bernadette D. Nicolas @BNicolasBM & Jasper Emmanuel Y. Arcalas @jearcalas

F

INANCE Secretary Carlos G. Dominguez III on Wednesday challenged the Department of Agriculture (DA) to aim for and attain a 2-percent annual growth target in the agriculture sector to stabilize food prices amid the pandemic.

Dominguez, who served as agriculture secretary during the term of the late former President Corazon Aquino, said the growth target has to be achieved to cope with the country’s yearly population growth rate, which is estimated to be around 1.4 percent in 2019 based on data from the Philippine Statistics Authority (PSA).

The country’s finance chief issued the challenge after Agriculture Secretary William Dar delivered his “State of Philippine Agriculture Report” to commemorate his first year of service as Department of Agriculture secretary.

“Finally, I leave this challenge to Secretary Dar and the Department of Agriculture: You must fulfill the target of an annual growth rate of at least 2 percent for the agriculture sector,” Dominguez said. “The steady growth of our agriculture sector is crucial to achieving stable food prices for all Filipinos.”

Responding to the dare, Dar said he is taking on the challenge issued by Dominguez.

“This is a tall order set by our mentor, and

staunch friend and supporter Secretary Dominguez, but we accept his challenge. He has been instrumental in paving the way for the department to shine, especially as the Philippines faces one of its biggest threats, the Covid-19 pandemic,” Dar said in a news statement.

Dar had initially set a 2-percent growth target for the agriculture sector but revised it downward to 1.5 percent after the PSA reported on Wednesday that the farm sector grew by 0.5 percent during the second quarter of the year.

A preliminary PSA report showed that the value of agricultural output in the April-to-June period, at constant prices, reached P444.322 billion, slightly higher than the P440.309 billion recorded in the same period of last year.

PSA data showed that the 5-percent growth posted by the crops subsector, which accounted for 53.7 percent of total farm output, was sufficient to buoy the contractions in the livestock and poultry production.

Livestock output, which accounted for 17.3 percent of total farm production, declined by 8.5 percent while poultry production fell by 4.7 percent, according to PSA. The fisheries subsector, however, posted a 0.9-percent increment in production, PSA data showed.

The country’s farm output in the first half fell by 0.6 percent as the minimal increase in farm output in the second quarter was not

enough to offset the 1.7-percent contraction in the first quarter.

To support DA, Dominguez vowed that his office will work to unlock more financing for the agriculture sector by pushing amendments to the Agri-Agra Reform Act, which will provide more access to credit for the entire agricultural value chain.

Aside from this, he also suggested to Dar five ways to ensure that there would be no disruptions in food production in the future.

These include extending productivity gains in the rice sector to other plantation crops, particularly sugar; digitalizing agricultural systems; expanding access to digital marketing to boost consumer spending; mechanizing farm production; and improving the DA’s efficiency in program delivery.

As for improving the DA’s efficiency in program delivery, Dominguez said this includes completing the registry of farmers as soon as possible to have a more solid basis for policy formulation, especially in designing programs for them.

He also said the accurate estimating of the optimal rice buffer stock to reduce unnecessary costs and spoilage resulting from overstocking, and focusing research efforts on developing new farming technologies, are also among the ways that the DA can further improve its efficiency and empower the agriculture sector.

A6

Thursday, August 6, 2020

Show BusinessMirror

www.businessmirror.com.ph

As the world irritates, TV (some) brings happiness

Today’s Horoscope

By Eugenia Last

z

CELEBRITIES BORN ON THIS DAY: Vera Farmiga, 47; Geri Halliwell, 48; M. Night Shyamalan, 50; Michelle Yeoh, 58.

Happy Birthday: Take your time this year, and learn from the experiences you encounter. Don’t trust situations or people who are manipulative or play with your emotions. Separate the negative from positive and associate with those who bring out the best in you, and you’ll find the success you desire. This year isn’t about mass production; it’s about doing things right. Your numbers are 4, 10, 19, 23, 32, 38, 47.

a

ARIES (March 21-April 19): Decisiveness will be necessary when dealing with pending legal, health or financial matters. Don’t leave anything to chance, and it will make your quest a lot easier to achieve. Don’t allow emotional issues to stand between you and doing what’s right. HHH

E

VER since the lockdown, I have developed the habit of watching TV as I finish my breakfast. At 8 am, it is CNN International.

Black Lives Matter, Trump, and the Covid-19 epidemic fill the wide screen in front of me. Each day is an update of what the US has to offer or negate.

The remote control, of course, allows me to go to BBC and then to CNN Philippines and then back to CNN. I would have loved to follow Aljazeera but it disappeared from our cable. For some reason, the dumb responses of many Americans make me feel good about the dumb responses of our government to the pandemic.

Not misery but inutility somehow loves company.

When I have irritated myself to no end for the morning, I get ready for practically a whole day of TV-viewing (I write in the late afternoon until 2 or 3 in the morning).

From this daily habit, I have discovered engaging presentations. Let me list them down here. My choices may reflect who I have become as a media critic but they may also answer some of the readers’ questions about what I watch. Here they are in no particular order of significance: 1. American Pickers and Pawn Stars on History Channel. I put these two shows in one list because they are similar in that they deal with artefacts of yesterdays. Personally, I love antiques but I am no collector—I don’t have the moola for it. I love old things for what they represent, an age that has long been gone. The approach of Pickers is to bring us to where these old things are. It is like a fieldwork that does not have the stress of making a report afterwards. The tandem of Mike Wolfe and Frank Fritz scour the old towns of America to buy, recycle and sell again pieces of Americana. The fun part in this show is when they go around old barns and storage houses and find signage and ads that have stopped gracing highways. Pawn Stars, on the other hand, is about men and women who bring seemingly ordinary and worthless things to pawn. The surprise is when an old photo with signature or a pistol get more than what the owner ever imagined in terms of its value. Pawn Stars sources its charm also from the hosts, Rick Harrison, Corey Harrison and Chumlee.

They play their parts so well, one will never know who bullies who.

2. I am scared of big waves but who does not enjoy scaring himself of the things that he is frightened of?

Huge waves and an ocean beyond taming are just two of the factors that enable me to enjoy Wicked Tuna on the National Geographic Channel. This show follows the adventures of commercial tuna fishermen based in Gloucester, Massachusetts. They set out to catch the world-famous Atlantic Bluefin tuna found in the North Atlantic Ocean. Except for the use of sonars, the whole enterprise is done manually, including the spearing of caught fish and hauling it onto the boat. For us Filipinos, it is awesome to watch the team leaders of the boat follow US regulations, which determine the size limits and quotas for the season.

3. Who does not get excited with hidden treasures?

b

TAURUS (April 20-May 20): Be innovative and eager to get things done. How you attack a project or responsibility will be what counts in the end. Don’t let temptation or interference get in the way of your success. Make your position clear, and strive for consistency. HHHH

c

GEMINI (May 21-June 20): Take better care of your physical and emotional well-being.

Focus on fitness, diet and steering clear of situations that cause anxiety and stress. Think matters through, and take action based on truth and facts. Let experience guide you. HH

d

CANCER (June 21-July 22): Refuse to let anyone back you into a corner. Assess what’s going on, seek the truth and take action. If you don’t stand up for your rights and what you want, you’ll have no one to blame but yourself. HHHHH

It may sound childish but when a group of adults (or grown-up boys) spends a lifetime in search of lost treasures, one cannot/should not turn away from that adventure—popcorn optional. Two shows have intrigued me for days now since the lockdown: The Curse of the Oak Island and Lost Gold of the World War 2, both on History Channel.

The Curse of the Oak Island follows the team led by brothers Marty and Rick Lagina in their search for a notoriously popular treasure on Oak Island, in Nova Scotia, Canada. What is at stake are historical treasures linked to esoteric groups like the Rosicrucians and the Knight Templars, even jewelries from the Aztec empire. The unwavering intense interest of the team that meets in a “war room” fuels our very own gaze at this exciting journey.

Close to our thrilled hearts is Lost Gold of World War 2. It is, as you may have guessed, about the fabled Yamashita treasure buried somewhere in the mountains and jungles of the Philippines. Shot from a foreigner’s perspective, one is pushed to ask: Do we really still have those dense woodlands and mountains? What looks like an impossible quest is relieved by the log line: a treasure may have been found but carting it off is another matter.

4. With my health conditions, sugar is a no-no; and with the world afflicted, bingeing is a sin. But I can always relish the sight of pastries and cakes in their most decadent manifestations. This is the offering of Spring Baking Championship on The Food Network. It is a typical baking contest without the complications of sour intrigues and unwanted rivalries. The judges of this show are having fun and are not mean. Without spring in the country, the name of the show is really about being bright and full of hope. Bonus: You get to learn about the differences among types of cake— from torte to pound cake, from stack to sponge cake, from shortcake to savarin, from petit fours to petit gateau. And why not, naming what touches the tongue is always power.

The point of this exercise is that with all the bleakness and depression outside, no one is stopping us from bringing in sunshine to our living room.

What about the Philippines and its documentary?

With due respect to the hardworking documentarians in the country’s free TV, I find them not engaging

enough. It is typical of these documentaries to be overwhelmed by the persona of the documentarians whose profiles had to be developed by the network for ratings and popularity purposes.

What do I propose then? I am strongly recommending to the TV networks to go out there and try the many short and full-length documentaries being made by independent documentarians from the metropolis and the regions. These documentarians are looking into realities and phenomena with perspectives that are beautifully trenchant because they are not burdened by any corporate responsibilities huge networks impose on their talents. There is a whole original universe out there from which we could learn more about our country and its peoples and cultures. n

‘BASURERO,’ ‘HENERAL RIZAL,’ ‘NANG EM’ TO PREMIERE IN CINEMALAYA 2020

THREE short feature films will have their premiere at the Cinemalaya Philippine Independent Film Festival: Basurero by director Eileen Cabiling, Heneral Rizal by director Chuck Gutierrez, and Nang Em by director Maria S. Ranillo.

In Basurero, a fisherman finds himself in a dangerous side gig. Wracked with guilt and fear, he searches for a way out.

Actor Jericho Rosales will portray the embattled fisherman.

A Visayan short film based on a true story, Nang Em witnesses how an 85-year-old woman from Cebu tries to survive along through the quarantine. While she sometimes falls into depression and anxiety, she fights through these negativities. The film will open eyes to a whole understanding of being “old” in the time of “new.” Veteran actress Gloria Sevilla plays the lead role. Cinemalaya and Tanghalang Pilipino (TP), the resident theater company of the Cultural Center of the Philippines, synergize this year to bring Heneral Rizal to more audience online. Featuring actor Fernando “Nanding” Josef (also the artistic director of TP), the film shows the dying confession of Paciano Rizal about the Philippine revolution to his younger brother Jose.

Catch the premiere of these films on the online edition of Cinemalaya, slated on August 7 to 16, to be screened via Vimeo. Cinemalaya continues to set sails amid the pandemic through its online edition. Established in 2005, the film festival is coproduced by the Cultural Center of the Philippines and the Cinemalaya Foundation Inc.

e

LEO (July 23-Aug. 22): Hard work will keep you out of trouble. Put your energy where it counts most, and you’ll make a difference to the outcome of a situation that concerns you. Romance is in the stars and will improve your personal life. HHH

f

VIRGO (Aug. 23-Sept. 22): Address pending issues openly and honestly. The best course of action is to enforce a change that encourages better relationships. Stick to basics, as well as the rules, and move forward judiciously. HHH

g

LIBRA (Sept. 23-Oct. 22): Discipline will pay off. Keep busy, and finish what you start. Your reputation will depend on attitude and your ability to get things done correctly and on time. Don’t make personal changes that affect your appearance.

HHH

h

SCORPIO (Oct. 23-Nov. 21): Incorporate some fun into your day, but don’t go over budget. Use your imagination, and you’ll develop a plan that is both cost-efficient and enjoyable.

A creative endeavor will be enlightening and encourage greater discipline. HHHHH

i

SAGITTARIUS (Nov. 22-Dec. 21): Consider how or where you want to live. The personal changes you make should include the people you care about most. Don’t let an outsider come between you and someone you love. Analyze an emotional incident before you get involved. HH

j

CAPRICORN (Dec. 22-Jan. 19): Don’t let anger settle in, or you will fall short when you try to reach your accomplishments. Use your energy wisely, and make a point to be positive, accommodating and efficient. HHHH

k

AQUARIUS (Jan. 20-Feb. 18): Don’t make a change because someone else does. Weigh the pros and cons, and proceed down the path that will bring you the most in return. Personal gains look promising if you use your intelligence and your imagination to get ahead. HHH

l

PISCES (Feb. 19-March 20): Spend time helping others, and you will feel good about what you accomplish. The people you encounter will give you a different perspective on life.

A change someone close to you makes will disappoint you. Be honest about the way you feel. HHH Birthday Baby: You are imaginative, changeable and ambitious.

You are determined and passionate.

‘all the hits’ by matthew sewell The Universal Crossword/Edited by David Steinberg

ACROSS 1 Common office plant 5 “Success!”

10 Mischievous child 13 Octet of elite colleges 15 Mayhem 16 ___ date (deadline) 17 Food package abbr.

18 Does as one’s told 19 Nurse’s favorite R&B group?

20 Like unsorted laundry, often 22 Group whose aim, per Lauren Bacall, was “To drink a lot of bourbon and stay up late” 24 Childish denial 26 Comedy show sounds 27 Clock radio switch 30 Golfs on a highway, e.g.

31 R.R. stop 32 Harvest 33 Cartoonist’s supplies 35 Challenge to a bluff 39 Word after “time” or “space” 41 Spiral-shaped ear part 43 Lesley of 60 Minutes

44 Gravy thickener 46 Music player since 2001 47 “___ my pleasure!”

49 Box score stat 50 Prone to snooping 51 Religious leader 54 “Get me?”

56 Surfer’s navigation aid?

58 Wildflower habitats 62 Syllable after “oom” 63 Eatery enticement 65 It merged with Exxon 66 Singer Grande, familiarly 67 Their shells are edible 68 Used foul language 69 Foreign policy advisory grp.

70 Paperless read 71 Must-have DOWN 1 Done, in Dijon 2 Balanced 3 Moreno of One Day at a Time 4 The Granite State (see letters 3 to 6) 5 One who’s got the goods? (4 to 6) 6 Part of an airport queue

7 ___ the moon (thrilled) 8 The Crown subjects 9 Thrilled 10 Suitcase dangler 11 Landscaper’s bagful 12 Quick kisses 14 Wineglass part 21 Blacksmith’s block 23 Belittling the less powerful, or a hint to the starred answers’ indicated letters 25 Bit of a reprimand 27 Javelin paths 28 What an Impossible Burger lacks 29 Bear with hot porridge 34 Diver’s face cover (4 to 6) 36 Dog food brand 37 August 6 births 38 Lord’s counterpart 40 Nth 42 Rust, e.g., chemically 45 Suffix for “access” 48 Hieroglyph bug 51 Channel for many a press conference

52 Untruthful sorts 53 Moral code 55 Dog food brand 57 A little, in music 59 High-pitched woodwind 60 Current travels through one 61 Go downhill, perhaps 64 Holstein’s sound Solution to yesterday’s puzzle:

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Parentlife BusinessMirror

Thursday, August 6, 2020

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FROM left: Marcus during Teacher’s Day with his second grade teachers; my sister and I celebrating my dad’s birthday with our office managers at Sofitel a few years back; Meagan and I back in 2016 attending an iCanServe Foundation event.

Being alone together: Part II teacher to both me and my son. n I remember loving my own second grade experience. My teachers were truly kind and supportive. I am grateful today for all the people who continue to love and support me. n It was my first time to be class president and I discovered my love for leadership. This affirmed my career choice today.

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AST week I shared the different kinds of isolation we might be feeling in the face of this pandemic. I pointed out the need to be aware and accept what we are missing.

This week, I would like to share my view on isolation.

I hope that amid all the anxieties of when this pandemic will come to an end, we can actually find hope together.

PERSONAL ISOLATION MUCH of our activities now involve staying at home.

Even when we are at work or outside, we need to do social distancing. There are no meetings and no casual talks. What can we do with all this “alone time”?

From what I suggested last week, I hope you were able to gather photos and reflections. Now, get a blank piece of paper and draw a big T. On the left, label it as Positive/Continue and on the right side label it as “?” (question mark). As you go through each photo you, you can write what thoughts popped up that made you smile or brought about a question. The question can be a doubt, a wish, a painful past memory or a feeling, a regret and the like.

For example, for the first photo above: POSITIVE/CONTINUE: n I felt good being able to support my son in school that day; since I am not always available to attend my kids’ school activities. n I loved seeing my shy son be picked as Teachers’ Day escort of Liu Lao Shi, who was a second grade

? (QUESTION MARK): n How can I find time to be more involved with my kids’ school activities? n How can I find ways to show my gratitude to my past teachers? n Now that I am a licensed teacher, do I want to pursue teaching?

No need to put the photo on the list. Just continue building on the list. As you go through the left side, hopefully you will see there are many things to be grateful for. As you go through the right side, may it lead you to genuinely reflect on things you want done or changed in your life. Honesty is key. You might have picked photos that contain people you are estranged with. Be honest in facing your involvement in the estrangement. If you are at fault, plan to correct the mistake, then ask for forgiveness.

After you have gone through the photos, continue the list with other thoughts they might have triggered. Hopefully this exercise allows you to positively reflect, plan for tomorrow and, more important, practice finding the good in everyday things. Below is a journal entry I recently found that I put in my positive list: Monaco to Savona, Italy 3/23/13 A trip to be free and trip of realities. The rain falls without cease. And I can’t help but say thank you for fully cleansing my pain.

UNIT ISOLATION OUT “unit” is our familial unit or the group we belong to. If before we would usually spend time outside eating out, going to parties or traveling together, what

can we do with all the time we have at home together?

How do we connect and communicate with our familial unit that we have not been able to see face-toface at the moment?

For our family, we cherish most being able to have family meals now. This has allowed us to share stories of our childhood. It has allowed our kids to share their school life, their friends and their dreams. It has also opened us up to arguments and meaningful reconciliations. From planning meals every day to thinking of ways to make my son’s birthday special last weekend, we also discovered how fun it was to plan as a family. These plans have led to us constructively help each other to be better individuals like encouraging each other to exercise.

Even if we cannot be with our relatives now, we found creative ways to stay in touch. My dad now has a weekly Mandarin session with my kids by teaching them his favorite Teresa Teng songs. I would download the lyrics and the YouTube link ahead of time, then send these to both my dad and my kids.

During this time, it may be good to ask questions like, “Are we communicating enough as a couple? as a family?,” “How much do we know our kids?,” “Do they feel comfortable talking to us?” Most of all, do you show your “unit” how much they mean in your life?

I posit that we are given this much “alone time” today to force ourselves to confront our pains, our questions, our anger and our true passions. The hope is for us to transform these into meaningful action.

It is the hope that as we become better people, we are able to transcend ourselves to become people of hope and a gift to others.

While we are facing this pandemic feeling all alone, wouldn’t it be good to know we used this time to become better individuals...better families...ready to build a better society? These lines from Chicago Typewriter, a K-drama about resistance fighters in the 1930s, provides an apt conclusion for my thoughts: “No matter which era you live in, life is agony.

There is no such thing as a perfect world. Every era has its own problems and things you’d want to resist.

We resist, struggle, fight and win. That’s how we shape the world we live in.” n

Isabelle Daza learns to cook from her ‘lola’ Isabelle Daza is firing up her kitchen. The actress, television host, model, and granddaughter of Filipino culinary legend Nora Daza follows in her grandma’s footsteps, and enlists the help of renowned cooking brand Maya to navigate the kitchen with ease and confidence, and inspire a new breed of home cooks just like her.

Cooking With My Lola is Isabelle’s four-part online video series that kick starts her cooking adventures— and what better way to do so than to recreate recipes from seminal cookbook Let’s Cook With Nora. “Cooking has always been a huge part of my family, and now that I have my own, I want to bring the same joy and wonderful memories that I’ve associated with cooking into my home,” Isabelle shares.

She continues, “I also think that the art of Filipino home cooking that my lola carefully and lovingly documented in her book is a bit lost to the younger generation. I want to help change that, and get more people to love home cooking again. I thought since I’m a beginner cook, sharing my experiences would encourage others to learn with me!”

Isabelle has also gotten help from a very familiar quarter. Maya and The Maya Kitchen (www.themayakitchen.com) have close ties with her grandmother, hosting the pioneering cooking competition, The Great Maya Cookfest, which ran from 1976 to 1990, and together they helped launch the careers of a new generation of chefs and cooks.

Nora and Maya’s connection also goes beyond the cookfest, with the Philippines’s first culinary

Isabelle Daza (left) recreates her grandmother’s recipes, the culinary legend Nora Daza (right), straight from the iconic cookbook Lets Cook With Nora.

ambassador actively promoting The Maya Kitchen (formerly known as Maya Bakeshop) and Maya products by holding cooking demos all over the country. Some of the episodes of her show, Cooking It Up With Nora, were also shot at The Maya Kitchen.

The first episode of Cooking With My Lola also features another of Isabelle’s family, her tita—cook,

writer and editor Nina Daza-Puyat. Nina recently updated her mom’s cookbook Let’s Cook With Nora, retesting recipes and offering ingredient alternatives and modern variations that fit today’s home cooks.

Catch the first part of Cooking With My Lola as Isabelle tackles beef stroganoff with her tita Nina and Maya now live on her official YouTube channel.

3 ways to promote social skills in homebound kids

By Elizabeth Englander Bridgewater State University WITH the severity of the Covid-19 pandemic getting worse in most of the country, a growing number of school districts from San Francisco to Atlanta have determined that a return to daily in-person instruction isn’t yet safe or viable. They aim to stick with remote learning as the school year gets under way. Based on my research about the psychological effects of digital technology, I’ve seen that when children and teens spend a great deal of time isolated at home and gazing at screens their social skills and self-esteem can suffer and they may become lonelier.

Fortunately, there are ways to lower those risks while young people spend way more time than usual at home.

1. Practice paying attention to other people. One important social skill is the ability to pay attention to another person while you’re interacting with them. A long-term study of more than 300 teenagers found that those with the heaviest screen use were also the most likely to focus on their own needs, instead of those of the other people they were interacting with. Other research indicates that this self-centered behavior tends to lead to more social problems with friends. The good news is that regular, daily activities apart from technology can help kids focus in general and pay attention to other people.

For example, when families do things together, such as cooking meals and gardening, or have a designated time when everyone reads at the same time, it can help children maintain the social skill of paying attention to others. A large study found that adults and children who both engaged in these kinds of activities felt better about their relationships.

2. Foster the give-and-take of conversation.

Interactions at school help children learn to read facial expressions and body language, the give-and-take of conversations and how to change or initiate topics of conversation. Having these informal encounters regularly are one way that kids learn how to meet and greet people.

While there’s no perfect substitute online, there are steps parents and other guardians can take to help preserve a child’s social skills. Some online activities can help kids practice perceiving others’ emotions by looking at their faces.

One example is the “Eyes In the Mind Test,” in which people look at a picture of someone’s eyes and guesses the emotion that person is experiencing.

Family time can potentially make the biggest contribution to conversational and social skills. Plan to eat dinner together, without the distraction of any screens or phones because kids who eat dinner with their families tend to form stronger relationships with their peers, marked by less fighting and bullying.

3. Maintain friendships. Parents of home-bound kids may need to look for creative ways to keep school friendships going. Apps like Skype, Zoom and FaceTime can be useful but children—like adults—can grow tired of them. Fortunately, there are alternatives.

Remind your kids about the difference between brief messages or posts and longer communications. Through my research, I’ve found that children generally see the differences between brief but fun interactions versus feeling a deep connection to a good friend. Encourage kids to write longer, but less frequent, messages to their friends because it may help keep those relationships strong.

Despite having to socially distance, don’t forget that children of all ages can also connect with others outdoors, which is safer than being together indoors. Set up outdoor visits that keep children and teens and their friends six feet apart from each other and make sure everyone wears masks.

Last but not least, encourage teachers to break classes into small groups while they’re learning online. Kids can still learn how to study together, practice skills together, and talk and socialize while they learn outside the classroom.

THE CONVERSATION

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Thursday, August 6, 2020

PHL participates in regional post-pandemic recovery talks

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Team Europe activates aid in PHL, Asean vs Covid

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EARING up for economic recovery to sustainably address the impacts of the ongoing global health crisis, the Asean conducted a high-level dialogue on post-pandemic recovery to discuss best practices and recovery forecasts of various international organizations on their respective programs assisting countries in their respective amelioration plans.

Organized by the Asean Secretariat in Jakarta, representatives from the World Bank, Asian Development Bank, United Nations Economic and Social Commission for Asia and the Pacific as well as the World Economic Forum discussed via video conference on July 30 their organizations’ recovery methods and recommended relevant approaches for the Southeast Asian region.

The Philippines’s Senior Officials’ Meeting Leader and Ambassador Elizabeth P. Buensuceso, Foreign Affairs Assistant Secretary Junever M. Mahilum-West, Asean Socio-Cultural Community Council Leader and Social Welfare Assistant Secretary Noel M. Macalalad, as well as representatives from the Office of Asean Affairs of the Department of Foreign Affairs, Department of Trade and Industry, and the National Economic and Development Authority attended the virtual dialogue.

With Asean in the process of

formulating its own regional comprehensive recovery strategy, the dialogue provides regional policymakers and other stakeholders with pointers in ideating a framework suitable to the bloc’s vision for Southeast Asia. The Philippines stands to benefit from a wellplanned and properly executed regional revival, as it also prepares for its own.

Among the suggestions and ideas brought forward include implementing green recovery (renewable-energy projects, smart grids and low-carbon footprint, among others), investing on health and social welfare systems as well as basic infrastructure to make them more resilient to crises, creating inclusive measures to mitigate impacts on human capital—particularly the vulnerable sector, building more resilient and innovative educational systems, and focusing on the “blue economy,” enhanced public-private partnerships, and the importance of

ASEAN Secretary-General Dato Lim Jock Hoi (from top, left to right); Asean Economic Community Deputy Secretary-General Aladdin D. Rillo, the event’s moderator; World Bank Managing Director of Development Policy and Partnerships Prof. Mari Elka Pangestu; Asian Development Bank Vice President for East Asia, Southeast Asia and the Pacific Ahmed Saeed; United Nations Economic and Social Commission for Asia and the Pacific Executive Secretary Armida Salsiah Alisjahbana; and World Economic Forum Head of the Regional Agenda for Asia-Pacific Lee Joo-ok. DFA

transitioning to the digital economy, among others.

The participants agreed that the recovery will be remarkably difficult to forecast but for the short term, collective efforts need to focus on the revitalization of trade, tourism, transportation, entrepreneurship, agriculture and consumer confidence—sectors most adversely affected by the present economic downturn.

To better prepare for future pandemics, the dialogue urged for prioritization on research and de-

velopment; mainstreaming of standard health and safety protocols; zoonosis cooperation, production and distribution; as well as sharing of medical equipment and supplies, including vaccines.

All speakers agreed that the pandemic created an opportunity to fundamentally reshape Asean’s future, and to build back better.

The virtual dialogue had a broad spectrum of representation, which included students and other stakeholders from different parts of the world. DFA

UNDP, DOH help boost frontliners’ protection

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HE United Nations Development Programme (UNDP) Philippines’s Resident Representative Titon Mitra formally handed over 500,000 medical masks to Health Undersecretary Mario C. Villaverde in support of the ongoing efforts to protect frontline health-care workers fighting the pandemic.

The donation, estimated to be worth P8.5 million, came from the Soong Ching Ling Foundation and was facilitated by UNDP Philippines and UNDP China, in coordination with the Philippine Embassy in Beijing and the Department of Foreign Affairs.

“With the rising number of confirmed [coronavirus disease 2019] Covid-19 cases all over the

FOREIGN Affairs Division Director Emma R. Sarne (from left), Health Undersecretary Mario C. Villaverde and UNDP Philippines Resident Representative Titon Mitra. UNDP

country, health-care workers are at a high risk of contracting communicable diseases,” Mitra said. “[This] supply of personal protective equipment [in the form of medical masks will help ensure those] who are risking their lives day-in and day-out are well-looked after too. Their courage should never be understated.”

Villaverde formally accepted the donation on behalf of Health Secretary Francisco T. Duque III and noted that their department “commits to use the masks to protect the most vulnerable populations during the pandemic.” He stated that, “with dedicated allies [such as the UNDP], we are optimistic we have the strength to rise above this crisis.” UNDP

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HE European Union (EU), through its “Team Europe” approach, said it stands ready to assist the Philippine government in its fight against the coronavirus disease 2019 (Covid-19) as it reallocates funds in originally agreed programs from less-urgent elements to address short- to medium-term consequences of the pandemic.

The “Team Europe” method aims to combine resources from the EU, its member-states, and financial institutions outside the bloc. Meanwhile, the reorientation of funds is geared toward mitigation of the impact of pandemic to health, social and economic recovery, subject to discussion and agreement with concerned government agencies.

Subject to further discussions with the Philippine government, the EU estimates that up to €15 million could be reoriented to address the impact of the contagion in the Philippines.

Under “Team Europe,” the EU’s humanitarian aid has been widely responding to the ongoing crisis by reaching out to the most vulnerable communities with high vulnerability of Covid-19 infections.

Days after the national lockdown, the EU has provided roughly P50.21 million in aid to poor families through cash assistance, food distribution, hygiene kits and face masks, handwashing facilities and transportation for locally stranded individuals. To date, 489,885 individuals had directly received assistance.

The regional bloc, with the support of partner-civil society organizations, is also working on a Covid-19 information campaign. Advocacy materials tackling prevention and coping with the infection are being

developed. Multilingual videos and infographics are also being produced to ensure wider dissemination and understanding from the public, specifically targeting the youth and women.

At the regional level, the EU has confirmed funding of €20 million to support a World Health Organization (WHO) systemic response to Covid-19 in eight Asean countries to strengthen the preparedness of these countries in dealing with pandemics. Other EU member-states in the country are also giving direct support.

The EU has likewise mobilized a “Team Europe” package of more than €800 million for Southeast Asia, combining its resources with those of EU countries and financial institutions, according to the Ambassador of the EU to Asean Igor Driesmans. The funds will support actions at country and regional levels to address the health crisis by strengthening health, water and sanitation systems, as well as mitigating its socioeconomic impact.

The package includes regional support to the World Health Organization, as well as enhanced collaboration between scientific organizations. In Asean member-countries, programs target civil-society support, budgets for economic recovery, health-care facilities and testing capacities, as well as humanitarian assistance.

The EU is working with Asean on a regional level to exchange response experiences to the crisis. The first virtual EU-Asean Foreign Ministers Meeting on March 20 reached an agreement that both blocs would work together to deal with the Covid-19 crisis and its consequences. EU EMBASSY

YSEALI, team’s info materials promote safety protocols

France, MMDA to work on Pasig waterway waste

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HE French Development Agency (Agence Française de Développement, or AFD) and the Metropolitan Agency for the Treatment of Household Waste in the Paris Region, or Syctom, signed a grant agreement on July 21 for a pilot project aimed at strengthening household waste management in Pasay City.

This initiative, undertaken in partnership with the Metropolitan Manila Development Authority (MMDA), seeks to contribute to improve the quality of the Pasig River.

Both French entities noted that Metro Manila produces about 6,700 tons of household waste per day. In the absence of an effective waste collection system for its 17 million inhabitants, around 17 percent of the region’s waste ends up in the Pasig River either through dumping, or is washed away by floods.

To address this, Syctom, upon the request of the MMDA, will be leading a pilot project proposing waste treatment solutions at the Tripa de Gallina pumping station. This is expected to benefit between 20,000

and 25,000 residents of various barangays in Pasay City, and will complement the wastewater phytotreatment system managed by the Greater Paris Interdepartmental Syndicate for Sanitation.

The project’s objective is to locally implement a multichannel platform, which includes an electromechanical composting unit for organic waste to treat around 40 percent to 50 percent of household-waste deposits. It will also involve a reinforced materialrecovery facility: a small-scale waste disposal and transfer center for the management of recyclables, as well as the recovery of hazardous matter such as electrical- and electronicequipment waste.

Syctom also plans to seek the best solutions to improve the Tripa de Gallina pumping station’s treatment of screen waste, which does not allow recycling because of its level of contamination.

The project worth €623,000, or about P35.5 million, is financed by a grant work €425,000, or about P24.2 million, provided to Syctom

through the AFD supporting the MMDA. This effort aims to be eventually replicated throughout Metro Manila after an initial three-year phase aimed at raising awareness

among local residents toward more sustainable practices, improving the Pasig River’s water quality, and reducing health risks. Embassy of France in the Philippines and Micronesia

THE US Embassy, YSEALI alumni, Limitless Lab, Tagani Philippines and the Department of the Interior and Local Government’s “Disiplina Muna” campaign powers the web site www.adapt.ph. US EMBASSY

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BREATH OF LIFE VS. COVID: Ambassador of the Republic of Singapore Gerard Ho (Wei Hong) (second from left) presided the handover of the Temasek Foundation’s second batch of aid comprising 500 Yuwell 9F-5AW Oxygen Concentrators to Health Undersecretary Mario C. Villaverde (second from right) and Chief of Presidential Protocol and Presidential Assistant for Foreign Affairs Robert A. Borje on July 30. The Embassy of Singapore noted that its first batch of aid had “already been put to good use,” as it will continue to facilitate efforts to augment the Philippines’s health-care capacity in its fight against the pandemic. EMBASSY OF SINGAPORE FACEBOOK PAGE

HE United States’s (US) Department of Statesponsored Young Southeast Asian Leaders Initiative (YSEALI) has just launched AdaptPH, a nationwide campaign encouraging Filipinos to observe public safety protocols that help prevent the spread of the coronavirus disease 2019 (Covid-19).

The web site www.adapt.ph offers free downloadable information kits for local governments, public-transportation operators, public markets and small businesses, assisting them to implement proper social distancing, sanitation and hygiene practices.

It contains creative printable signs and infographics promoting basic safety protocols and providing accurate information on the health crisis.

AdaptPH also offers learning toolkits and guides for school administrators, teachers, parents and students on effective strategies for maximizing online learning. The materials are also highly contextualized.

“YSEALI empathized with stakeholders and observed their behaviors. Our team came up with creative tools to positively influence them to adapt to the current situation,” said Project Head Joie Cruz. “This

process resulted in distinct sets of resources designed for different types of businesses and organizations available in multiple languages, including English, Tagalog, Cebuano and Hiligaynon.”

The project is funded by the US Embassy in the Philippines and implemented in partnership with Limitless Lab, Tagani Philippines and the “Disiplina Muna” campaign of the Department of the Interior and Local Government.

“Supporting outstanding initiatives of US exchange alumni, like AdaptPH, is one way the US government is partnering with the Philippines during the pandemic,” the US Embassy’s Public Affairs Counselor Philip Roskamp said. “Since the outbreak began, US exchange alumni across the [Philippines] have donated personal protective equipment to frontliners, provided livelihood assistance to families in need, and launched online projects to share critical health and safety information. We commend these extraordinary efforts.”

For more information about AdaptPH and YSEALI, visit https://adapt.ph and https://yseali. state.gov. Recto L. Mercene

Sports BusinessMirror

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

Thursday, August 6, 2020 A9

TIGER WOODS: IN A BETTER PLACE

By Doug Ferguson

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The Associated Press

AN FRANCISCO—The course is one Tiger Woods knows well and where he has winning memories. The Professional Golfers Association (PGA) Championship is a major he has won four times, more than anyone except Jack Nicklaus and Walter Hagen.

Woods learned last year that brings no guarantee of playing well.

Coming off the deep emotions of a Masters victory that capped his remarkable comeback, Woods lasted only two days at Bethpage Black and missed the cut.

He said Tuesday he’s in a much better place at the TPC Harding Park.

Never mind that Woods has played only one tournament—a tie for 40th at the Memorial— in the last six months because of the Covid-19 pandemic and his own limited schedule. The biggest difference was showing up on Sunday in the sunshine to play 18 holes at Harding Park, followed by nine holes Monday as fog crept through the cypress trees and the temperature plunged into the 50s.

A year ago, he played 18 holes a week before the PGA Championship and only nine holes in the three days leading to the opening round. This year, his

approach appears more serious.

“After I won the Masters, it was a bit of a whirlwind,” Woods said. “We got a chance to go to the White House and meet with our president. I celebrated winning the Masters for quite some time. Came to Bethpage and played awful, and felt like Brooks [Koepka] beat me by like 30 shots in two days.”

It wasn’t that bad. Koepka pipped him by only 17 and went on to win a second straight Wanamaker Trophy.

“My game is better than it was going into that PGA,” Woods said, “and hopefully, I can put it together this week.”

They were encouraging words, not quite to the level he shared about a few past majors. Woods said that only three times in the 15 majors he won did he realize “all I had to do was keep my heartbeat going and I was going to win.”

One was his 12-shot victory in the 1997 Masters. The others were his 15-shot win at Pebble Beach in 2000 and his eight-shot win at Saint Andrews in 2000.

“My game was clicking on all cylinders for maybe the week prior. The week of it, got a little bit better and just had to maintain it the rest of the week,” he said.

“Those were the rare exceptions.”

He can’t predict how his surgically repaired back will feel tomorrow, much less for an

entire week. And he hasn’t competed enough lately to get a true sense of how he will perform.

Woods just knows it will be quiet. This is the first major without spectators. The atmosphere is nothing new for players who have been back at work for the last two months on the fan-free PGA Tour. The stakes are higher now with a major, no matter how silent it might be.

“The atmosphere will not be the same, and I can say from experience,” Jon Rahm said.

“You’re coming down the stretch and you’re hitting some shots and you don’t know what’s going on, you don’t know what the people in front of you are doing. And you’re hitting shots into the green and you don’t know how close they can be. It’s very odd down the stretch.”

It wasn’t anything like that when Woods won at Harding Park in 2005, beating John Daly in a World Golf Championship that felt like a rock concert with two of the biggest draws in golf—one predictable, the other not so much—in a playoff. It was so loud that Woods recalled being half-deaf from the screaming.

And now there are only silent expectations, for him and so many others.

For the second straight year, Koepka comes to Northern California with a chance to win the same major three years in a row, a feat achieved by only six players in the 160year history of the majors. He was runner-up at Pebble Beach last summer in the US Open.

TIGER WOODS hasn’t competed enough lately to get a true sense of how he will perform. AP

Reigning champ Nadal to miss US Open amid Covid-19 crisis

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EFENDING champion Rafael Nadal will skip the US Open because of the coronavirus pandemic, putting on hold his bid to equal Roger Federer’s men’s record for Grand Slam titles.

Nadal explained his decision in a series of tweets sent

in Spanish and English on Tuesday.

“The situation is very complicated worldwide, the Covid-19 cases are increasing, it looks like we still don’t have control of it,” Nadal wrote.

The 34-year-old from Spain called sitting out the tournament scheduled to begin August 31 in New York “a decision I never wanted to take,” but added that he would “rather not travel.”

“Rafa is one of the greatest champions in our sport and we support his decision,” US Open Tournament Director Stacey Allaster said.

The current No. 1-ranked woman, Ash Barty, already had announced she would be missing the US Open. The US Tennis Association’s entry list announcements Tuesday noted that 2019 women’s champion Bianca Andreescu

RAFAEL NADAL announces his decision in a series of tweets sent in Spanish and English on Tuesday. AP

is in the field—at least for now; players can withdraw until the start of play—but made no mention of Nadal.

The professional tennis tours have been on hiatus since March because of the Covid-19 outbreak, with play resuming for women on Monday in Palermo, Italy. The first men’s event on the main tour is scheduled to be held later this month.

Nadal’s plan to skip the US Open came shortly after the Madrid Open, scheduled for September, was canceled because of the pandemic.

“We know that the reduced tennis calendar is barbaric this year after 4 months stopped with no play,” Nadal wrote on Twitter. “I understand and thank for the efforts they are putting in to make it happen.”

In last year’s thriller of a men’s final at Flushing Meadows, Nadal edged Daniil

Medvedev, 7-5, 6-3, 5-7, 4-6, 6-4, in four hours and 50 minutes. That gave Nadal four titles at the US Open and a total of 19 across all the Grand Slam tournaments, just one away from Federer’s career mark.

Federer will be absent from the US Open, too, but because of two operations on his right knee this year.

The last Grand Slam tournament contested without either Federer or Nadal was the 1999 US Open—four years before Nadal made his debut at one of the sport’s four most prestigious events.

The USTA has given repeated indications it intends to go forward with the US Open, despite the spikes in cases around the United States, saying in a news release last week: “New York State continues to be one of the safest places in the country as it relates to the Covid-19 virus.”

That is currently true—although the area was a major US hot spot early in the pandemic,

FANS YES, BEER NO

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ERMAN soccer is hoping to get fans back into the stadiums next month. It won’t look anything like a typical Bundesliga season.

Fans won’t be allowed to drink beer or stand on terraces such as Borussia Dortmund’s renowned “Yellow Wall,” at least to begin with, and it will be home fans only until the end of year.

The 36 clubs in Germany’s top 2 men’s divisions held a virtual meeting on Tuesday to define a broad outline for the leagues. The exact number of fans allowed could vary by club.

The tentative return depends on how the coronavirus spreads in Germany, and requires approval from a mosaic of regional and local authorities. Local health officials in Leipzig have backed plans for fans to return there, but the governor of Bavaria—home to champion Bayern Munich—has been more cautious.

Clubs agreed to prohibit away fans in the hope of reducing the number of people traveling across the country to games. Standing sections are a key part of Germany’s loud and colorful fan culture, but the thinking is that it’s easier to enforce social distancing between seated fans.

There are also plans to keep more personal data on fans with a personalized online ticket system to help contact tracing.

The new season begins in Germany with first-round cup games from September 11.

UEFA is staging the final rounds of the Europa League in Germany this month but all games are without spectators.

The league’s decisions came as Bundesliga club Borussia Mönchengladbach held an open training session in front of 300 face maskwearing fans on Tuesday. AP

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When the quarantine was eased, Magno, Petecio and several of their coaches were brought to the PSC facility at the PhilSports in Pasig City and underwent another round of quarantine procedures.

Then came the anxious wait for the plane tickets that would bring them home to their families.

Petecio was first to fly home to Davao last week, and Magno followed suit on Monday.

“I couldn’t control my emotions when I held that plane ticket in my hand, to sitting on the plane and landing here in Iloilo,” she said.

Nevermind if she will have to be quarantined for two weeks as prescribed by the local government unit. Magno’s eyes are sparkling differently now.

“A little wait and I will be with my family,” she said.

Magno admitted she gained some extra pounds because of limited activity during the pandemic, but she vowed to plunge into serious training under the online guidance of her Association of Boxing Alliances in the Philippines coaches.

“I also plan to reconnect with my former coaches here in the province and also train with them. I will ask if we could use the boxing gym here to keep myself conditioned,” the flyweight standout said. Ramon Rafael Bonilla

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IRISH MAGNO comes home to a hero’s welcome.

LSGH keeps 45 scholar-athletes despite absence of sports events

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A SALLE Green Hills (LSGH) announced on Wednesday that it is maintaining 45 scholar-athletes in the program despite the absence of sports events particularly the National Collegiate Athletic Association (NCAA) because of the Covid-19 pandemic.

The scholar-athletes are currently enrolled in the Flexible Lasallian Education through Technology and Collaboration at Home (FLETCH), a learner-driven collaborative experience presented through home-based online learning in the first semester and blended learning in the second and third semesters.

LSGH Athletic Scholarships are granted to qualified students who are recruited and who have shown remarkable performance in the previous seasons of the NCAA juniors

tournaments.

The school has a total of 700 studentathletes in Grades 1 to 12 in 14 sports— archery, basketball, baseball, badminton, chess, football, golf, karatedo, lawn tennis, swimming, taekwondo, table tennis, athletics and volleyball.

LSGH Sports Program and Development Office Head Marvin Bienvenida said that the main reason the student-athletes are in LSGH is to receive quality Lasallian education.

“We take pride in their academic standards and achievements. Having them allows us to stay true to our mission of making education accessible amid these trying times,” Bienvenida said. “By supporting them to continue, they are afforded with the opportunity to further

so much so that a building at the US Open site was used as a temporary hospital.

New York hospitals saw more than 18,000 patients with Covid-19 at a time in mid-April when infections surged and more than 750 patients with the illness died each day in hospitals and nursing homes. Those figures plunged in May, and rates of hospitalizations and new positive Covid-19 cases have been relatively stable since June.

There are still concerns about travel, as Nadal noted.

The USTA is planning a doubleheader of sorts at the Billie Jean King National Tennis Center. The Western & Southern Open, a hardcourt tournament normally played in Cincinnati, was moved to the US Open site this year because of the pandemic and is scheduled to be played August 20 to 28.

That is supposed to be followed by the US Open itself. And then, two weeks after the US Open closes on September 13, the French Open is scheduled to begin in Paris, having been postponed from its usual May start. AP

Sexual abuse mars French ice skating

MAGNO’S GLAD TO BE HOME AT LAST OKYO Olympics-bound Irish Magno is lucky to be home at last on Monday.

Magno, who turned 29 only last July 27, escaped being locked down anew by one day following President Duterte’s order for Metro Manila and nearby cities and provinces to revert to modified enhanced community quarantine.

“I’m very happy—new environment after months of being away,” Magno told BusinessMirror, adding she is very much relieved to be home in Janiuay, Iloilo.

Magno, like fellow national boxing team member and women’s world champion Nesthy Petecio, has all the reasons to be happy. Her journey home was long and stressful.

Following her successful stint at the Tokyo Olympics qualifier in Amman, Jordan, last February, Magno had to be quarantined in a rented room in Baguio City along with teammates and fellow Olympics qualifier Eumir Felix Marcial and Petecio.

After that, Magno and Petecio had to stay for almost five months at the Philippine Sports Commission training facility at the Teachers’ Camp. Marcial, on the other hand, was more privileged because he is now based in Cavite and only needed a car to travel.

Now he’s the two-time defending champion for the PGA, and he found some form last week with a runner-up finish in a World Golf Championship.

“My game feels like it’s in really, really good shape right now,” he said. “Every day is a lot more comfortable. I’m excited. This is a big-boy golf course.”

Harding Park at 7,251 yards feels long at sea level, with heavy air and marine layer so thick that the sun is a rumor. The PGA Championship has never been known for its sweaters. Woods said he was on the range Monday listening to players who were in Memphis, Tennessee, last week talking about the difference in how far the ball was going.

The cool air can be an issue for Woods, who has had four back surgeries and has struggled at times in the chill.

His back acted up in the cold of Riviera in Los Angeles in February, leading him to take off a few weeks, and then the pandemic shut down golf. Then again, his back didn’t feel right in the July heat of Ohio for a few days. That’s one area of his game Woods can’t control.

“I know I won’t have the same range of motion as I would back home in Florida where it’s 95 every day. That’s just the way it is,” Woods said. “I think the weather forecast is supposed to be like this all week—marine layer, cool, windy, and we’re all going to have to deal with it.”

develop themselves, their knowledge, and their skills, which they will use not only to improve their lives but to be of service to God and the society.”

Currently, the student-athletes are focusing on their online classes while their coaches continue to assist them through proper digital training.

“Remaining healthy and staying ready physically and mentally are the mindset of our athletes,” Bienvenida said.

LSGH, however, suspended its recruitment program this school year to give priority to the current athletes.

Bienvenida said that the school eyes opening different sports clubs to currently enrolled LSGH students so they can scout

promising prospects.

Among the current notable LSGH studentathletes are Jalil Taguinod, a member of the national swimming team, and Troy Limbo and Kyle Magdato, who played for the national football team in last December’s 30th Southeast Asian Games.

The 60-year-old institution has produced a crop of national athletes including the legendary Filipino bowler Rafael “Paeng” Nepomuceno, national football star Aly Borromeo and Olympians Luis Gabriel Moreno (archery) and Stephen Fernandez (taekwondo).

Fernandez is presently the Director of De La Salle-College of Saint Benilde’s Center for Sports Development.

ARIS—More than 20 coaches working with the French ice skating federation or its clubs have been identified following an investigation into accusations of sexual assault, harassment or violence, the French ministry of sports said on Tuesday.

The fact-finding probe was launched in February at the request of the sports ministry after 10-time French champion Sarah Abitbol said in a book she was raped by skating coach Gilles Beyer from 1990-92, when she was a teen.

Her revelations led to the resignation of the longserving head of France’s skating federation, Didier Gailhaguet, who denied protecting the coach.

In the wake of Abitbol’s accusations, more skaters spoke out to denounce alleged sexual violence from coaches over a 30-year period.

After conducting hearings and analyzing athletes’ testimonies on a dedicated platform set up by the ministry, the probe found out 12 coaches have been accused of harassment or sexual assault, including three who were sentenced to prison terms. In addition, seven cases of physical or verbal violence were reported, while two other cases related to trainers who died before the end of judicial proceedings.

“The volume of cases identified is indicative of practices and behaviors that have been replicated through generations of coaches,” the ministry said. “It is unparalleled internationally.”

The investigation also pointed out a “real alcohol problem” among some skating coaches.

Paris prosecutors opened a criminal investigation after Abitbol accused Beyer. According to the sports ministry, one coach was placed in detention in February while five others were banned in April from coaching. All of the administrative investigations that had stopped because of the coronavirus lockdown in France have resumed.

The Associated Press does not normally name sexual assault victims but Abitbol accused Beyer in a book published last week and has also spoken about her personal experience on television. AP

A10 Thursday, August 6, 2020 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Fast Internet speed as a Christmas gift?

E

nough is enough. That was the message President Duterte conveyed to the country’s telecommunication players—Globe Telecom and Smart—when he threatened to shut down both companies during his recent State of the Nation Address. “The patience of the Filipino people is reaching its limit and I will be the one to articulate their anger and you might not want what I intend to do with you.

Kindly improve the services before December. If you are not ready to improve, I might just as well close all of you and we revert back to the line telephone and government will expropriate you,” he said.

Earlier, Sen. Grace Poe may have inadvertently laid the blame on the National Telecommunications Commission for the country’s poor Internet speed, particularly after connectivity issues barred the agency from participating in a Senate hearing. “The NTC should be working on improving our connectivity, but as we’ve seen in the hearing, even the NTC cannot connect,” the senator said.

The disappointment felt by the good senator is directly tied to the expectations we place on the telcos at a time when the world is talking about 5G, or Internet as fast as the blink of an eye. But she was barking up the wrong tree when she blamed the NTC for our slow Internet connection. Let’s put this in context: As of April 2019, in terms of fixed line Internet, the Philippines ranked 101st among 179 countries with an average speed of 19.51 Mbps, which was much slower than the global average of 57.91 Mbps. In contrast, Singapore has an Internet speed of 153.85 Mbps.

Our Internet speed remains at a snail’s pace because we lack the needed telecommunications tower infrastructure. The culprits here are the local government units that make it difficult for the telcos to complete vital infrastructure projects. That’s the reason why the Philippines has the lowest tower density in Southeast Asia although it was the first to build towers for mobile networks. Now Vietnam has 70,000 towers against the country’s 22,000. We need 50,000 more if we want to improve the country’s Internet speed.

Compared with other countries where digital processing takes only a day to get permits, it takes at least 24 stages and close to a hundred days just to secure construction permits for a single tower in the Philippines. Here’s what the telcos have to hurdle: Right of way negotiations need four documents that take up to two months to process; social acceptability (consent from homeowners living near the cell site) needs 3 permits that take up to 2 months to process; barangay permit takes up to a month to secure; 14 national permits (DENR, LLDA, DOH, BFAR, DPWH, PENRO, CENRO, etc.) that take up to 12 months to get; up to 13 LGU structural permits (zoning, HLURB clearance, city or municipal resolution, mayor’s permit, special land use permit, locational clearance, building permit, electrical permit, sanitation permit and mechanical permit) that take up to five months to secure before site construction can start. Corruption and inefficiency at the LGU level can slow down cell tower construction for years.

After his meeting with Globe Telecom President Ernest Cu in Malacañang where the telco executive revealed the extent of corruption at the local level, and that one of the reasons for Globe Telecom’s poor services is the lack of cell sites because of such red tape, President Duterte ordered local government officials to release necessary papers within three days or face prosecution.

Interior Secretary Eduardo Año later announced that the processing time for permits for putting up cell site towers would be drastically shortened.

From the usual 200 days, it would be cut to 16 to 20 days, he said. He made the announcement after the signing of a joint memorandum circular by local government units and various departments to remove red tape in processing telco applications for licenses, permits and clearances.

In these pandemic times, we can’t stress enough the importance of fast and reliable Internet connection for distance e-learning, doing business, online medical consultation, e-payment, etc. The equation is simple: No additional towers for the telcos, no improvement in Internet speed for all of us. Come December, we hope to have fast Internet at home as a Christmas gift from the telcos.

Since 2005

BusinessMirror A broader look at today’s business

Time-out James Jimenez

spox

I

was one of those impatient for National Capital Region to slip into modified enhanced community quarantine (MECQ) and then general community quarantine; I was one of those who went huzzah, when GCQ finally happened; and yes, I was also one of those dreading a return to stricter grades of Q. But with the seemingly uncontrolled increase of Covid-19 positive cases, I’m also thinking that we might actually need a time-out.

Why a time-out?

First, a time-out would maybe— just maybe—slow the spread of Covid-19 simply by taking people out of infective (I think I may have just made that word up) situations.

No guarantee of that, of course, but a slim chance is better than no chance at all.

Second, a relapse into a stricter grade of Q might shock people into being more careful. Not to buy into that whole pasaway theory, but I have seen people of late being less protective of themselves and others. I’ve even seen people seeming to take

Try some economic common sense

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offense at the contact tracing and disinfection requirements instituted by commercial establishments. So, for those that have perhaps let their guard down, a brief foray into ECQ might not be a very bad thing.

Third, I’ve always said that when a person tells you he is thirsty, the only acceptable response is to give him a glass of water. If the doctors and nurses and other medical frontliners tell us they’re tired, we should give them a rest. Although they probably meant that metaphorically in the beginning, I’m pretty sure that they’re also in deadly earnest: they

are literally tired.

In all fairness, a time-out would not really de-load medical frontliners in any significant way. But a slowdown in transmission rates would necessarily bring about a reduced rate of admissions and that will, for sure, be a boon for medical workers.

Fourth, it’s not just the people needing a break. Hospitals and other medical facilities too are likely in drastic need of breathing room by now. I don’t know what the metric actually is, but if hospitals are reporting full ICUs, then that’s a problem.

While a majority of those afflicted

by Covid are fortunate enough to be able to survive it with minimal intervention, there still remains a significant fraction of persons who suffer really badly. These patients need ICU facilities, ventilators, and round-the-clock monitoring. If the hospitals are full up, where do we send those who need hospitalization?

With a time-out, many of these hospitals would be able to rebuild capacity, primarily by opening up new Covid wards—a process that takes time, by the way—or simply making new beds available. Can’t they do this without a time-out? If push came to shove, I have no doubt that people can find ways to do what’s

‘M

edicine” is a difficult discipline. “Economics” is a difficult discipline.

Deepak Chopra wrote, “Modern medicine knows less than 10 percent of what your body knows instinctively.” John Kenneth Galbraith said: “In economics, the majority is always wrong.”

It is not for me to question the efficacy of a tighter lockdown. I saw one comment that said that modified enhanced community quaratine would reduce cases by 50,000. That would be good as there is strain on the hospital system, and that is not good.

However, there’s a discipline that is more difficult than medicine or economics—and that is “common sense.” It is true that if a person dies from Covid complications it is an irreplaceable life that is lost forever. But Joseph Stalin said: “If only one man dies of hunger, that is a tragedy. If millions die, that’s only statistics.”

The United Nations Children’s Fund estimates that “every day, 95 children in the Philippines die from malnutrition. Twenty-seven out of

1,000 Filipino children do not get past their fifth birthday.” Tragedy or statistics? Need I mention that 27 out of 1,000 is 2.7 percent and that according to the European Centre for Disease Prevention and Control the Covid-19 Case Fatality Rate for the Philippines currently is 2 percent?

The idea that a “dead person” is lost forever is common sense.

But comments like “The economy can always recover” is lacking in common sense.

Here are three realities. “Home improvement retailer Wilcon Depot Inc. saw a 95-percent drop in second-quarter net profit.” If your toilet seat broke during lockdown, when Wilcon reopens you will go buy a replacement. But you will not buy

The income, wages, and taxes from those economic transactions cannot be “recovered” because they never existed. But maybe I am wrong. Maybe the economy can recover what did not happen during the lockdowns. All you have to do is get two haircuts next week instead of one. two toilet seats to help Wilcon make up its revenue decline. The same is true for the retail business in malls and for restaurants.

8890 Holdings, the affordable housing developer, suspended amortization collections during the lockdown. Eventually they will collect from their buyers but the “cost of money” during the lockdown is gone forever. Their unrealized sales of P8 billion will only be delayed—as for all property companies—like what happened in 1997. But the profit delay may also delay future plans and a large number of their workers did not make any money during the lockdowns.

Food and beverage kiosk operator Fruitas Inc. has reopened about 50 percent of its stores. They will never “recover” the revenue that was not generated during the lockdown. However, Fruitas like some

needed, but jury-rigged solutions like that are inevitably going to be flawed and likely to be more costly in the long run than if we simply took the time to do everything properly.

And fifth, a time-out would allow government to rebuild capacity as well. Maybe build more isolation centers, or something. At the very least, a lockdown would give the relevant authorities time to build and certify more testing centers in various places throughout the country. And maybe they could get that 1555 hotline up and running again while they’re at it.

The President listened

Late night, August 2, the President—apparently heeding the call for a time-out—went on television and announced that MECQ would be re-imposed on NCR, Laguna, Cavite, Rizal and Bulacan. So, wish granted, I guess.

The good news is that this won’t be the first time we’re in MECQ, so we know what to expect. Within hours of the President’s announcement— while he was talking, in fact—social media was already full of re-posted graphics of MECQ explainers from various sources, reminding everyone See “Jimenez,” A11

other companies are spending to expand their product lines to increase revenues and profits in the future.

Another example of this is AgriNurture Inc., which has expanded its business model to include direct consumer delivery of its fruits and vegetables. It is also looking to adopt an enhanced e-commerce/epayment platform.

The economy will not “recover” as if you can watch a movie on Netflix because you missed it in a theater. Let me explain so that even the person with a modicum of common sense might understand.

How many haircuts did you miss having in the past four months?

How many trips to the dentist for a teeth cleaning did you not take?

How many “staycations” were spent in your own house?

The income, wages, and taxes from those economic transactions cannot be “recovered” because they never existed. But maybe I am wrong. Maybe the economy can recover what did not happen during the lockdowns. All you have to do is get two haircuts next week instead of one.

E-mail me at mangun@gmail.com. Visit my

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Israeli democracy is facing a stress test

Do not be afraid!

By Zev Chafets | Bloomberg Opinion

F

or the past few weeks, Israel has been experiencing raucous street demonstrations against Benjamin “Bibi” Netanyahu. The rallies have no organized leadership, but the protesters share a goal: Fed up with the prime minister’s scandals and mismanagement of the coronavirus, they want to bring down his coalition and get him out of office. Netanyahu may be in serious political trouble.

His response to the unrest has been to incite his admirers against the protesters, the courts, the media, the parliamentary opposition and anyone else who stands in his way. On Sunday, at the weekly government meeting, he labeled the demonstrators “anarchists” whose gatherings “trample on democracy” and spread the dreaded coronavirus. He also accused the media of collaborating with the extremist left to bring down a legally elected prime minister.

Usually such incitement goes unchallenged in the Netanyahu government. But this time, Defense Minister and Alternate Prime Minister Benjamin “Benny” Gantz, begged to differ. Public demonstrations, he said, are not only legitimate, they are the lifeblood of democracy.

Gantz, a former army chief of staff and leader of the second-largest faction in Bibi’s government, has been hesitant to rock the boat since joining the coalition government in May. His boldness is a sign that the prime minister may be losing his mojo.

The Covid-19 crisis has been a clarifying moment. After so many years in office, many citizens—even those who don’t like Bibi personally—have come to regard the prime minister as Israel’s indispensable man. Indeed, his tenure has been a time of prosperity and relative peace.

Israelis routinely report high levels of happiness and satisfaction on international surveys, and they’ve rewarded him at the polls.

But Netanyahu has failed to rise to the challenge of the coronavirus.

Distracted by his trial—for criminal charges relating to bribery, fraud and corruption—he has been oddly detached and indecisive. Israel has one of the highest rates of infection in the world, but only now, after months of bureaucratic infighting, is there the glimmer of a pandemic policy. Economic aid has been too little and too late to save many small businesses and provide the working class (Netanyahu’s base) with a safety net.

A less egocentric prime minister might see this as an opportunity to cut a plea deal that would keep him out of jail, retire from electoral politics and spend the rest of his days defending himself in a memoir, raking in six-figure lecture fees and exploiting his many international connections for influence and profit.

However, that is not Bibi’s style.

He will fight, using the weapons of incitement and intimidation that have characterized his political career from the beginning. But he

Jimenez. . .

continued from A10

of what would be and what wouldn’t be permitted during MECQ. However, knowing what to expect doesn’t necessarily mean we’re ready for it, and that’s where this thing could go sideways really quickly.

According to the announcement, MECQ kicks in at the stroke of 12 midnight, August 4. As of this writing, that’s less than 12 hours within which to prepare for the imposition of stricter containment measures in the affected areas.

Take public transportation, for instance. Are the resources— whether private or public—in place to transport our medical workers to and from the hospitals where they work? What about financial support for those who will once again be jobless? And what about those quarantine passes? Will the relevant authorities be able to give out quarantine passes in time? Under these circumstances, it shouldn’t be a surprise if the first week of MECQ will

Netanyahu has failed to rise to the challenge of the coronavirus.

Distracted by his trial—for criminal charges relating to bribery, fraud and corruption—he has been oddly detached and indecisive. Israel has one of the highest rates of infection in the world, but only now, after months of bureaucratic infighting, is there the glimmer of a pandemic policy. might not win this time.

In 1995, as a rising politician of the Likud party, Netanyahu was part of the campaign to demonize Labor Party Prime Minister Yitzhak Rabin as an enemy of the state. Rabin was not long after assassinated by a rightwing fanatic and, within a year, Bibi took his place at the head of the government. It was a demonstration of where political incitement can lead.

Since then, Netanyahu has owned the streets. He has made common political cause with the openly racist Jewish Power Party and the far-right activists of the Beitar Jerusalem soccer fan club known as “La Familia.”

At the first large demonstration in Jerusalem last week, members of La Familia beat protestors bloody. The same thing happened in Tel Aviv.

Anti-Bibi combat veterans have since begun organizing security patrols to protect the demonstrators.

Cyber-intimidation is also part of Bibi’s campaign. Judges and officers of the court involved in his ongoing trial have received anonymous but convincing death threats via Twitter.

(In an effort at moral equivalence, Netanyahu claims to have received similar threats.) The chief prosecutor in his case is now under 24-hour guard, as is the attorney general.

Bibi says he has nothing to do with this, but one of the chief inciters is his troubled son, Yair, who still lives with his mother and father. He recently published the names and addresses of enemy protestors and invited Likudniks to pay them visits. A court ordered Yair to take down the post.

Israeli democracy is now in the midst of its stress test. The legal system is holding up under the pressure.

So are the media, despite Bibi’s efforts to portray reporters and critics as enemies of the state. Inspired by the courage of the protestors, some center-left members of Bibi’s coalition are also now standing up to the boss. Netanyahu still has his fans, but far fewer seem willing to defend his personal ambitions. also see a rise in reports of quarantine violations.

I sure hope we don’t find out that this reversion to MECQ was precipitately done, otherwise, we will see yet another round of recriminations that really aren’t helpful.

All-nation approach

IN the end, there is no denying the need for some kind of time-out. And it helps no one to ignore or criticize or shame (looking at you, social media trolls) those calling for one—or now, possibly complaining about how the reversion to MECQ was carried out. We adhere to an all-government approach, do we not? Well, it should be an all-nation approach and that means listening to everyone with a good idea, or a valid sentiment, or a legitimate complaint. You never know where the good solution we are all looking for might be found.

It could be in a textbook, or in some best practice from overseas, or it might come from simply listening to each other. So for now, let’s listen.

Thanks to the reversion to MECQ, time-out na nga muna.

Msgr. Sabino A. Vengco Jr.

Alálaong Bagá

W

E need to have real faith in Jesus as we try to live up to our tasks in this world. For we are asked to cross to the other side of the sea and on a boat buffeted by waves and with opposing winds, and to do what Jesus does (Matthew 14:22-33).

Crossing a stormy sea Hearing of the death of His friend John the Baptizer, Jesus sought earlier to be alone in a deserted place. But the crowd came hungry for Him, and He ended up feeding thousands of them in that deserted location. Still wanting to be alone with His Father in prayer on the mountain, He sent His disciples on a boat to precede Him to the other side of the Sea of Galilee, while He sent the people away too (I think, giving them pabaon or provision for the road from the 12 baskets of leftover of the bread miraculously multiplied and also pasalubong or take-home for their families).

Themselves nourished by the bread from Jesus, the disciples received the instruction to go out to sea that same night and cross over to the other shore. Any questions the disciples might have they kept to themselves, for they have just seen

how their reservations about feeding the crowds in the desert were proven baseless. But after surviving one, they were to run into another crisis. Some kilometers offshore, all by themselves and in the dark, they found themselves being tossed about by the waves and tried hard by the turbulence caused by the contrary wind. The boat of Christ’s faithful, the Church, battered by waves and resisted by winds, is in peril.

Walking on the sea

The exhausting struggle against the stormy sea put uncertainty in their hearts, and it turned into terror around four in the morning when they saw someone walking on the water toward them. It was a ghost was their instinctive reaction, a specter sowing fear in their world of spirits. The disciples’ task to cross the sea was in itself fraught with risks.

Thursday, August 6, 2020 A11

On the boat with the disciples, the threatening forces died down and everyone recognized Jesus as the Son of God. It is clear that the homage of the disciples must include the understanding that faith in Jesus translates into participating in the work and mission of Jesus. And they still need to grow in that faith that is not afraid in the face of the storm.

The sea is the abode of evil spirits, the abyss and seat of the kingdom of darkness. For the “bark of Peter” to cross the sea is to bring the fight to the enemy. A stormy sea must be expected, for the Church as a counter culture naturally goes against the current in a world pervaded by evil.

But the community of faith is never really alone in the midst of the storm. Someone walks with sovereign power on the sea: Jesus the Christ, God’s chosen one in control over the chaotic waters. “It is He” who alone can say “I am” in identification with the Almighty. Jesus has already conquered the kingdom of darkness as He sends evil spirits scampering out of His way and as He walks on the sea triumphantly. Peter, representing the entire boatload of believers in Jesus even as they were tossed about by the waves, exemplified human wavering between trust and doubt in the face of conflicts and

dangers. “If it is you...,” then they can really cross the sea and weather the turbulent passage and be like Jesus on top of the situation walking on the sea. That would not be impossible; it is part of their mission.

Alálaong bagá, Peter asked Jesus to command him to come over on the water. He did not arrogate to himself the power of Jesus; He only requested to be ordered and empowered by Jesus. Believing and calling Jesus “Lord,” Peter took the steps on the water in his personal journey deeper into the mystery of God-intheir-midst. It entailed overcoming his fear, with his eyes on Jesus. But he wavered letting his mind fill with the noise of the protesting winds, and he started to sink. As Jesus, whom he asked for help, caught him, Peter was led to see that his “little faith” as demonstrated by his doubt needs to grow still. On the boat with the disciples, the threatening forces died down and everyone recognized Jesus as the Son of God. It is clear that the homage of the disciples must include the understanding that faith in Jesus translates into participating in the work and mission of Jesus. And they still need to grow in that faith that is not afraid in the face of the storm.

Join me in meditating on the Word of God every

Sunday, from 5 to 6 a.m. on DWIZ 882, or by audio streaming on www.dwiz882.com.

Philippine participation in the GVC system

uo vadis Department of Trade and Industry? Does the Department still view Philippine participation in the global value chain (GVC) manufacturing of multinationals (MNCs) central in the growth of the economy? Is this participation critical in ushering recovery in these difficult Covid times?

The vision of an industrialized self-reliant Philippines with limited dependence on imports was the dream of Filipino leaders and industrialists in the post-war period. Can the DTI help them realize this dream? With the Covid-19 pandemic, the answer can be either yes or no. The pandemic has flattened the economy. It has also flattened the GVC system around the world.

As a backgrounder, the DTI, in 2012, launched an Industrial Development Program (IDP) aimed at the revival and strengthening of Philippine manufacturing. Around 40 “industry road maps” were developed in 2012-2016 by the government and various industry associations. The IDP program was adopted by the Aquino administration in response to the criticism that the Philippines had become Asia’s industrial laggard because of policy neglect and weak infra support to manufacturing. Industrial Policy, with capitalized “I” and “P”, was abandoned by the government in the 1980s,1990s and 2000s.

A maverick ADB economist, Norio Usui, helped push the industrial revival program. He came up with a report, endorsed by the ADB leadership, documenting the de-industrialization that happened in the country in those fateful decades of the 1980s-2000s (see Usui, Taking the Right Road to Inclusive Growth, 2012).

These decades happened to be the decades when the IMF-World Bank reigned supreme in the management of the debt-ridden Philippine economy. The twins imposed on the country the neo-liberal structural adjustment program (SAP) that opened up the economy wholesale without any clear industrial development compass. Just liberalize this, liberalize that. In contrast, Usui sought a systemic upgrading of existing industrial facilities, especially the GVCs of the Japanese and other investors, so that the Philippines can produce higher value-adding parts, components and services.

Why the program encouraging more GVC investments and higher Philippine participation in the higher rungs of the GVC ladders? The quick explanation is that under the globalization processes, more and more goods and services are being traded worldwide between and among the subsidiaries of MNCs, including the

marketing the Philippines as a GVC investment destination.

The results of this DTI campaign are unclear. Nonetheless, it appears that the country is still no match to other Asian countries in luring FDI, especially vis-à-vis Vietnam, which has succeeded in enticing new Asiacentered GVC investments, including those relocating from China. The DTI’s Comprehensive Automotive Resurgence Strategy (CARS), which seeks to duplicate Thai success in developing a car manufacturing hub supported by hundreds of car parts suppliers, is still years away in attaining the target volume of cars assembled locally (which would allow Toyota or Mitsubisihi to avail of fiscal incentives).

But there are two success stories: the wire harness manufacturing and the call center/BPO sector.

However, their success is not due to the DTI campaign. The wire harness manufacturing was developed much earlier, in 2000s, by the MNCs who discovered the talents and skills of middle-level Filipino workers (high school graduates) in bundling together (manually) wires with different colors. As to the call center/ BPO sector, the talents and skills of Filipino workers had been discovered by the offshoring companies as far back as the 1990s. The so-called “revealed comparative advantage” of the Philippines in these two success stories was a product of the skillsand-talent hunt conducted by the MNCs themselves.

So, if there are positive reports on the “resurgence” of Philippine manufacturing, these are accounted for mainly by the domestic-oriented manufacturing sub-sector, not the export-oriented GVC-related industrial production. Here, the DTI needs to be commended. The DTI’s calls—go local, buy local and go into business (among the youth)—are working. This validates the thesis that the population of 110 million represents a huge domestic mar-

Dr. Rene E. Ofreneo

LABOREM EXERCENS

Q

supplier and outsourcing firms associated with these MNCs. In short, global trade has become intra- and inter-MNC trade, not simple trade between and among countries. Pascal Lamy, former DG of the World Trade Organization (WTO), christened the goods handled by the MNCs as goods “Made in the World.” For example, an iPhone can no longer be called a US product or a China-made one because certain designs, parts and processes that go in the making of the iPhone involve American, Chinese, German, Japanese, Korean and producers from other countries.

The same applies to automotive, electronics, garments and so on. Intraand inter-MNC trade is estimated to account for at least two-thirds of global trade.

Now back to the DTI. Under the Duterte administration, the Department continued the IDP program, with special focus on greater Philippine participation in the GVC system under a program labelled as the “Manufacturing Resurgence Program.” The USAID, under its STRIDE program for DTI, commissioned the Duke Global Value Chains Center to conduct value chain analyses in five sectors—electronics, automotive, aerospace, chemicals and paper. The triple objectives of the GVC analyses: strengthening entry in select GVCs, shift of Philippine GVC producers to higher level of value production, and improvement in production efficiency and technological innovation.

One outcome of the GVC analyses was the identification of “binding constraints” to FDI investments in GVC development, foremost of which were the weak infras in the country, specifically transport, power/electricity and communication. Other constraints cited were government red tape, especially in customs operations, and limited skills development.

By and large, the above constraints have remained. However, these have not stopped the DTI from

ket, a market which can easily support the operations of a dozen San Miguel. The domestic market can also be the platform in the development of a Filipino-led GVC system, as what Toyota has done for Japan and Samsung for Korea. GVCs carry the nationality of their home countries where they were developed.

The IDP of DTI, therefore, should give higher attention to the industrial possibilities of the domestic market. This market can pave the way for the deepening of the country’s industrial structure. As it is, the segments of manufacturing reported to be growing are mainly in light manufacturing such as the snacks industry. With the exception of the petrochem plant of the JG Summit, the Philippines cannot boast of any major mid-stream (intermediate products) and upstream (basic or foundation goods such as steel) industries.

The vision of an industrialized self-reliant Philippines with limited dependence on imports was the dream of Filipino leaders and industrialists in the post-war period. Can the DTI help them realize this dream?

With the Covid-19 pandemic, the answer can be either yes or no. The pandemic has flattened the economy.

It has also flattened the GVC system around the world.

Ironically, Covid-19 has also flattened free-trade globalization.

Instead, it has revived the spirit of industrial protectionism among the country’s trading partners in North America, Europe and Asia. The industrial protectionists are using the global backlash against China and China-made products in bringing back to their home countries businesses and jobs that their MNCs distributed around the world in the name of globalization. Economic nationalism is on the rise.

But is this not an opportunity for the Philippines to also create jobs at home by building up new industries that can produce all the essential goods needed by a quarantined population, e.g., health care materials, food packages, home products and various community needs? After all, this is what a number of developed and developing countries are now doing.

For a country that has stumbled very badly in its march towards full industrialization due to bad industrial policies in the past, the Covid-19 pandemic can turn out to be the surprise industrial savior for a deindustrialized Philippines.

A12 Thursday, August 6, 2020

‘Exports recovery hinges on full resumption of biz operations’

E

By Elijah Felice E. Rosales

@alyasjah

XPORTERS are projecting shipments to recover to positive figures by December, but said such will be possible only if the government allows the full resumption of work in business activities.

Sergio R. Ortiz-Luis Jr., president of the Philippine Exporters Confederation Inc., said the state has to authorize the full return to site of workers if it wants exports

to recover. He claimed the country’s shipment figures will continue to be in negative territory because not all workers have yet returned to their jobs; therefore, production

in factories remain slow.

“Not all exporting companies are operating fully at the moment, especially now that Metro Manila is back to enhanced quarantine,” Ortiz-Luis said over the phone.

About 2 million workers in exporting firms are waiting for their employers to call them to work again, according to Ortiz-Luis. Further, estimates by his group put at least 1 million carrying out their duties at home, although they are not related to manufacturing.

“Just in the export sector, there are millions awaiting the government’s directive for a return to work. As long as there are prohibitions, expect our numbers to be down. There will be some recovery, but not the recovery we want and

need,” he added.

Worse, Ortiz-Luis this early is forecasting that exports in December will not bring in as much value as it used to. Historically, shipments in the months leading up to Christmas are high, as demand for gifts, décors and houseware surge in many parts of the world.

“I don’t think people globally would be rushing to the malls this Christmas. I don’t think there is the usual high spirits for the export sector this year. People, now financially challenged, will be prioritizing their necessities over the usual Christmas celebrations,” the export leader said.

On the other hand, exporters are banking on the demand for electronic parts to keep the whole of the

sector from completely declining.

Ortiz-Luis said the supply chain for the country’s largest export item is “slowly but surely recovering.”

Data from the Philippine Statistics Authority showed electronic exports accounted for nearly 60 percent of total shipments in June at $3.17 billion. However, this was a decline of over 10 percent from the $3.54 billion of exported electronic parts during the same period last year.

“Export of electronics should be recovering by now given the rising production for hospital equipment in the time of the pandemic,” OrtizLuis explained. “That’s the largest.

All the other—mining, agriculture, garments—remain to be hanging on the balance.”

Frenzied search for missing OFWs after mega blast hits Beirut port

By Recto Mercene @rectomercene

T

WO Filipino household service workers died, eight others were wounded, and 12 Filipino are missing in the wake of a massive explosion that rocked the Beirut waterfront, reportedly from a huge cache of ammonium nitrate

stored in a nearby building for the last six years.

The Filipinos are part of the reported 78 who died and some 4,000 wounded in the explosion that rocked the capital city Tuesday afternoon. The blast was independently videotaped and immediately spread in social media, showing a mushroom cloud forming following

the explosion that could be heard 10 miles away and followed by a 3.3-magnitude earthquake.

“Our hearts go out to the Lebanese people. And I hope material and medical help as well. DFA will try to extend as much help as it can out of its own resources not just to OFWs but Lebanese communities,” said Foreign Affairs Secretary

Teodoro Locsin Jr. “Poor Lebanon. That humongous explosives stockpile must come from the endless conflicts into which the Lebanese were dragged or drawn by the many contending military forces in the area. It was once the jewel of tolerance, sophistication and freedom in the Middle East crown,” Locsin added in another tweet.

Lebanon officials were quoted as saying, “it appeared the blast in Beirut was caused by the detonation of more than 2,700 tons of ammonium nitrate, a chemical commonly used in fertilizer and bombs, which had been stored in a warehouse since it was confiscated in 2014.”

Two of those injured are currently recuperating at the Embassy Chancery after receiving treatment from a hospital, the DFA said. “They are part of a group of 13 Filipino seafarers whose ship was docked some 400 meters away from the blast zone. The other 11, as of this reporting, have been reported missing. In addition, another Filipino household service worker has been reported to be missing as well, bringing the total number of missing Filipinos to 12,” DFA said.

Undersecretary for Migrant Affairs Sarah Lou Arriola said during a zoom press conference the Filipino seafarers were in their boat docked some 400 meters from shore “when they decided to jump, fearing their ship will sink.”

Arriola did not say how many

Filipino seamen were in the boat but added that 11 of them are missing after they jumped in the sea.

“Maybe they were able to swim to port; we are awaiting confirmation from the ground,” she added.

She said the Filipinos in the embassy are making the rounds of hospitals in Beirut, looking for the missing.

Arriola said the two domestic helpers who died “were both were in the homes of employers. They sustained injuries because of the explosion. We are waiting to inform the families.”

Most of those injured sustained cuts from broken glass. One was seriously injured, she said, but stable and the DFA employees are going to hospitals to look at their conditions.

The Filipino employees in Beirut are helping in the search but are hampered by restrictions and precautions forced by Covid-19.

News agency reports said hospitals were swamped, and one Filipino HSW interviewed by CNN Philippines, Ursula Guila, confirmed this. She had just opened the window of her ward’s room when she was hurled several feet away by the hot blast of another explosion. She showed CNN Philippines deep cuts in her arm and some on her face, but said she opted to just return home and clean her own wounds after seeing the hospitals overflowing with people with far severe injuries.

Continued on A4

‘KUYA EDDIE‘ ILARDE, RADIO-TV HOST, SENATOR BIDS GOODBYE

By Psyche Roxas-Mendoza

T

@PsycheRoxas

HE first time I saw him was in 1965 and I was about five to six years old. He came to our house in Roxas District, Quezon City, to attend the birthday bash of my late father, short story writer, and public relations man Clemente M. Roxas.

He and Papa were both Bicolanos. And although my father was older by a good number of years, both were campus figures at the Far Eastern University (FEU) and moved in the same media circles.

Neighbors gawked as he entered our gate, because the tall man with the smiling face, who knew how to hold his liquor, was charismatic radio broadcaster and television host Eddie Ilarde.

Those were the early years

ILARDE

of radio and television in the country and Ilarde quickly established name recall because of his well-modulated voice that came across as warm and friendly to many listeners.

Continued on A4

Lax hotels may be abetting virus spread

By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

L

AX health and safety protocols in some hotels could be abetting the spread of the novel coronavirus in the general population.

Tourism Secretary Bernadette Romulo Puyat confirmed on Wednesday that a guest in the five-star hotel being investigated for health and quarantine violations tested positive for Covid-19, although asymptomatic.

She fumed,“Imagine how many people that guest may have already infected, including the hotel staff, because the guest was just there in the lobby, mingling with other guests, while waiting for her room!

Now the hotel has to contact-trace everyone that guest had interacted with.” The guest stayed in the lobby for more than nine hours, while waiting for a room since 3 a.m.

As of August 4, the Department of Health reported 6,352 new Covid cases, increasing the total infection cases to 112,593. Of these, 66,049 patients had recovered, and 44, 429 were active cases.

In a separate interview with the BusinessM irror, Hotel Sales and Marketing Association Inc. President Christine Ann U. Ibarreta said hotels should have “isolation” spaces to accommodate arriving guests, if their intended rooms have yet to be vacated, or prepared for occupancy.

She made this suggestion after receiving the Department of Tourism’s reports on two hotels violating health and safety protocols, by allowing their guests to move around freely and mingle with the general population, because they arrived ahead of the regular check-in time.

“If the rooms are not yet ready, hotels can isolate their newly arrived guests in their meeting or conference rooms,” she said. Hotels usually know the flight arrival details of their guests, she noted, so if they are scheduled to arrive ahead of the checkin time, “the hotel can charge the guests a half-day rate” so they can proceed to their booked rooms immediately. Most hotels have check-in times of 2 p.m. or 3 p.m.

Hotels currently serve as temporary quarantine facilities for returning overseas Filipinos and returning overseas Filipino workers who are waiting for their Covid-19 test results. But under the DOT guidelines, said guests have to be quarantined and isolated, not allowed to interact with other guests, and their rooms have to be booked for single occupancy, or have dividers between the beds, if the booking is for double occupancy. Their food is also served separately in well-packed containers.

In the case of the hotels that were the subject of the DOT reports, the guests arrived in the morning, and were allowed to leave their hotels to eat, or were kept waiting in the lobby, without physical distancing, and without masks. “At the minimum,”said Ibarreta,“the hotel should have given the guests face masks.” (See, “DOT chief cracks whip on hotels violating health, safety protocols,” in the BusinessMirror, August, 5, 2020.)

DOT chief said they will be revising their guidelines for accommodation establishments to require the hotels to implement flexible check-in procedures, and have rooms ready for occupancy of their guests upon arrival, or use their conference rooms to temporarily isolate the guests.

Also, she said the DOT will require the hotels to follow contactless booking and check-in procedures. Some five-star hotels recently checked by the DOT, Romulo Puyat said, did not even have QR codes for their restaurant menus or check-in procedures. “Some of them still used ball pens to fill out their paper health declaration forms,” she noted.

In contrast, she pointed out, some two-star hotels were early adapters to technology for booking procedures, as well as health and sanitation protocols, to protect their guests and staff from Covid-19. (See, “Tech-driven sanitation key part of the ‘new normal’ in hotels,” in the BusinessMirror, May 19, 2020.)

Companies BusinessMirror

www.businessmirror.com.ph

MPIC income plunges in H1 as Covid-19 bleeds economy

C

By VG Cabuag

@villygc

onglomerate Metro Pacific Investments Corp. (MPIC) on Wednesday said its core income fell 38 percent in the first half to P5.3 billion, from last year's P8.7 billion, as lockdown restrictions, which paralyzed economic activity in the country, affected its operations.

Operating revenues fell 17 percent to P30.7 billion, from last year's P36.97 billion, as the quarantines reduced toll road traffic, mandated the suspension of rail services and reduced commercial and industrial demand for water and power.

Power accounted for P5.2 billion or 68 percent of net operating income, water contributed P1.8 billion

or 23 percent, and toll roads contributed P900 million or 12 percent.

MPIC’s other business, being mainly hospitals, rail, and logistics, incurred a loss of P236 million.

“We have come through a difficult first half in decent financial shape. I am pleased to say that our Board of Directors has decided to maintain our interim dividend unchanged from 2019 at 3.45 centavos

per common share,” Jose Ma. K. Lim, the company’s president and CEO, said.

“Judicious management of our cash and liquidity position remains a key priority while helping to fund construction of important infrastructure projects that we were already embarked on. MPIC itself is well funded due to the P30.1 billion sell down of our interest in our hospitals business at the end of 2019 and the sale earlier this year of a 19.2-percent interest in our LRT 1 project for P3 billion.”

Lim said its transportation-related businesses, particularly the light rail transit, are encountering difficulties as trains can operate only at a maximum capacity of 30 percent.

“And so there's not even enough revenue to cover its expenses, so they will need capital.”

David Nicol, the company’s CFO, said MPIC is sticking to its P81billion capital expenditure (capex) program for the year.

“We are committed to building what we have already started, be-

cause a lot of the capex that’s going out is in support of the toll road projects. And, you know, there’s no point in having half a toll road.

So we'll continue to build that,” he said.

MPIC Chairman Manuel V. Pangilinan said the company's priority is the welfare of its people; service to its customers; and cash preservation while supporting construction already in progress.

“We are doing our best to support government as they grapple with balancing health management with the country’s economic welfare. On health, we are adding more Covid-19 beds, and to reduce infection points we are pushing for 100 percent cashless toll collection as well as full digital metering,” he said.

“On economic recovery, we are proceeding with needed infrastructure projects where we can. This said, the second half of 2020 will likely see lower economic activity than in 2019 and continuing uncertainty on Covid-19 infection rates and related government responses.”

Thursday, August 6, 2020

B1

SMIC reports steep drop in profits in H1

S

M Investments Corp. (SMIC), the Sy family's holding firm, said its net income in the first half slid 69 percent to P7.1 billion, from P23 billion last year, as the lockdowns affected its banking, retail, and mall operations.

Consolidated revenues fell 21 percent to P185.5 billion, from P233.7 billion recorded a year ago.

The property and banking businesses accounted for 61 percent and 34 percent of net income, respectively, while retail contributed 5 percent.

“Our half year financial results are within our overall expectations, given the context of the lockdown due to the Covid-19 outbreak which had a greater impact in the second quarter. The results also reflect the group’s continued financial prudence and conservative balance sheet after our banks made substantial provisions for potential customer delinquencies,” SMIC President and CEO Frederic C. DyBuncio said.

“Our food retail and residential property businesses have continued to perform well despite the pandemic as have the core businesses of our banks. The current environment has been most challenging for our non-food retail and mall operations which have adapted quickly to new customer needs and critical safety considerations.”

SM Retail's net income in the first half reached P522 million, down 90 percent from last year's P5.7 billion.

It also recorded revenues of P139.2 billion, lower by 18 percent from the previous year.

“Notable is the growth in food retail, particularly in store locations that are closer to residential communities and provide a sustained supply of essentials,” the company said.

In the first half, food retail revenues grew 15 percent with Alfamart posting an increase of 32 percent in revenues, the company said.

Shopping mall operator SM Prime Holdings Inc. posted a consolidated net income of P10.4 billion, down by 46 percent, from P19.3 billion a year ago.

Lender BDO Unibank Inc. recorded P4.3 billion in profits for the period, down 78 percent from last year's P20.1 billion as it booked total provisions of P22.4 billion in anticipation of potential delinquencies due to the pandemic.

China Banking Corp. posted P5.2 billion in net income in the first half, up 24 percent year-on-year. Income grow even as the bank ramped up provisions by more than fourteen times to P4.8 billion in anticipation of the impact of Covid-19 and ongoing quarantine measures on asset quality. VG Cabuag

Pandemic Meralco to continue meter readings hits DNL Lockdowns hammer earnings T FLI operations in H1

By Lenie Lectura @llectura

L

isted chemical manufacturer D and L Industries Inc. (DNL) said its recurring income in the first half fell 43 percent to P802 million, from last year's P1.41 billion, mainly due to the strict lockdown measures.

“The weak earnings for the period mainly stemmed from the unprecedented economic disruptions caused by the pandemic. Results for the second quarter didn’t come as a surprise as the strict lockdown measures were in effect in April and May," Alvin Lao, the company's president, said during the company’s media briefing conducted online.

Sales were down by 8 percent to P10.17 billion, from last year's P11.03 billion.

In the second quarter alone, net income fell 57 percent to P287 million, from last year's P665 million, while revenues declined 13 percent to P4.5 billion, from the previous year’s P5.16 billion.

“April was likely the worst for our business as it was the only month when Metro Manila was under 100 percent enhanced community quarantine. Nonetheless, our business remained profitable in April, and we didn’t post negative net income during the January-to-June period.”

He said the company’s income in the second half is expected to reach P900 million to P1 billion.

“We continue to sense that things are getting better each month as more and more of our customers are able to ramp-up operations under the new normal. A possible monkey wrench, however, is a second wave that can return us to a stricter quarantine,” he said.

“In June, we started seeing a pick up in activity, albeit still lower than pre-quarantine levels, due to pent-up demand and as the government started easing restrictions by shifting Metro Manila to general community quarantine.”

Lao said even if Metro Manila and other nearby provinces were reverted to the more stringent modified ECQ through mid-August, the impact on businesses will be less severe.

The company’s export business continues to show growth, increasing 25 percent during the first half. Export contribution to total revenues for the period rose to 26 percent, from 19 percent last year.

Coconut-based products under food and oleochemicals were the main drivers behind the robust export growth, as coconut oil continues to gain traction in the global market due to its perceived natural antiviral, antibacterial, and anti-fungal properties.

In the first half, the company saw its sales mix tilt towards commodities as demand focused on basic raw materials. Commodity sales accounted for 37 percent of total revenues, compared to just 31 percent in 2019. The high margin specialty products segment accounted for the remaining 63 percent of revenues. VG Cabuag

o ensure that the actual consumption of Manila Electric Co. (Meralco) customers is billed accurately, the utility firm said it would continue to conduct meter readings despite the enforcement of modified enhanced community quarantine (MECQ).

Also, Meralco said its business centers are also open to handle customer payments, concerns, inquiries and service applications.

In line with this, Meralco appealed to local government units (LGUs) and barangay officials to MECQ and allow them to read the meters of residences. The company guaranteed its strict adherence to the Inter-Agency Task Force’s (IATF) protocol against Covid-19. “Rest assured this will be unobtrusive and the deployed meter readers will be in complete personal protective equipment, bearing in mind safety procedures.”

The utility firm’s announcement was made on Wednesday after Senator Sherwin Gatchalian warned Meralco and other distribution utilities (DUs) against possible unexplained bill shocks.

Meralco, which services Metro Manila, Laguna, Cavite, Rizal and Bulacan, faced rampant complaints over the unexplained surge in the monthly electricity bills of consumers at the height of the summer community quarantine.

“The consumers cannot afford another round of bill shock in their electricity bills,” Gatchalian said.

When sought for comment, Energy Secretary Alfonso G. Cusi said, “I believe that Meralco has learned from their mistakes already and will be more sensitive and responsible.

I’m equally concerned about service continuity and I have told them to let us know how the DOE [Department of Energy] can be of assistance.”

Meralco said it is also closely coordinating with the Energy Regulatory Commission [ERC] and the DOE with regard to business operations continuation during the MECQ period.

Gatchalian, meanwhile, told the ERC and the DOE to do everything possible to assure consumers that they would be spared from bill shocks.

“Just like the time when the Luzon-wide enhanced community quarantine (ECQ) was extended, the ERC undertook measures that somehow eased the burden of affected consumers by directing all DUs in

P

the country such as Meralco to allow a staggered payment scheme. We’re hoping to hear a similar directive in the days to come.”

The ERC and the DOE, added Gatchalian, should immediately issue the corresponding directives applicable to all areas in the country in whatever classification of community quarantine they are in. The ERC has issued several advisories deferring the payment of electricity bills falling due within the ECQ, without interests, penalties, fees and other charges—the April 15 advisory covering the period March 16 to April 30, and the May 5 advisory extending the deferment period until May 15.

Sought for comment, the ERC said it is continuously monitoring the situation and has been coordinating with the DOE on the issuance of IATF passes to meter readers.

Meanwhile, Meralco said August power rates might remain flat or go down slightly. “Currently, overall power rate movement looks flattish, due to improved power situation for the July supply month, stronger peso, and quarterly repricing of Malampaya natural gas prices.

There is a possibility for a minimal decrease in overall power rates and generation charge because of these factors,” Meralco Spokesman Joe Zaldariaga said.

roperty developer Filinvest Land Inc. (FLI) said its income in the first half fell 24 percent to P2.41 billion, from last year’s P3.03 billion, reflecting the full impact of quarantine restrictions on the company.

Revenues declined 30 percent to P8.81 billion, from last year's P12.62 billion, after its operations were hampered by the lockdown and construction activities were delayed.

Rental revenues slightly increased by 1 percent to P3.42 billion, as it saw growth in office leasing that offset the decline in mall revenues. FLI’s office buildings continued to enjoy high occupancy rates and remained operationalduringtheenhancedcommunityquarantine (ECQ) period, the company said.

“The second quarter was a most difficult time for the company with ECQ limiting the operations of our malls and construction restrictions affecting residential revenue recognition,” FLI President and CEO Josephine Gotianun-Yap said.

“Despite the challenges, we prioritized easing the burden of our customers by providing payment grace periods or rental relief. Our past efforts in process improvement and digitalization allowed us to oper-

ate efficiently and effectively during this period as we continued to serve our customers.”

For the second quarter alone, its income fell 23 percent to P1 billion from last year's P1.3 billion, while revenues fell at a much steeper rate at 38 percent to P3.09 billion, from last year's P4.98 billion.

As Metro Manila and other cities transitioned to less stringent community quarantine from June to August 3, FLI malls were 60 percent operational, with more establishments allowed to open.

Real estate sales revenues for the first half went down by 46 percent to P4.56 billion, resulting from lower sales take-up coupled with revenue recognition delay brought about by the construction restrictions during the quarantine period. For the second half of the year, the company is rolling out a two-pronged strategy of expanding its investment property portfolio and prudent residential development focusing on the enduser, affordable and middle-income markets, she said.

FLI said it will file with the Securities and Exchange Commission a shelf registration of a fixed-rate pesodenominated retail bonds issuance, to partially fund its construction activities. VG Cabuag

B2

Thursday, August 6, 2020

Companies BusinessMirror

Lockdown restrictions dent SMFB income in Jan-June

By VG Cabuag

S

@villygc

an Miguel Food and Beverage Inc. (SMFB) said its income in the January-to-June period was cut in half to P7.34 billion, from last year’s P14.67 billion, as the lockdowns weighed on the performance of its beer and spirits divisions.

Consolidated revenues reached P122.82 billion in the first half, 19 percent lower than last year’s P151.1 billion.

The company said it had consolidated earnings before interest, taxes depreciation and amortization (Ebitda) of P17.67 billion, some P8.89 billion lower than last year, mainly due to P11.49-billion decline recorded by the beer division.

This was, however, partly offset by the positive performance of the food and spirits divisions. Consolidated operating income reached P11.36

billion, the company said.

“As the pandemic continues to affect our everyday lives, we keep in mind that this is only temporary.

We remain steadfast in our commitment to ensure food sufficiency and help and provide opportunities to the most vulnerable communities,” Ramon S. Ang, the company’s president and CEO, said.

“We continue to build long-term resilience across SMFB. At the same time, we are mindful of the changes necessary to help us navigate through the crisis in the short-term. All told, we believe that SMFB is in a position to emerge stronger and better than it was before.”

San Miguel Foods, formerly Pure Foods, registered consolidated revenues of P65.18 billion in the first semester, 1 percent lower than last year’s P66.13 billion.

Consolidated net income more than doubled to P1.34 billion for the period, from last year’s P447 million.

The prepared and packaged food segment sustained its revenue growth of 17 percent, cushioning the impact of the community quarantines on the food division, as it benefitted from consumer stockpiling and demand for essential packaged goods during the quarantine period, the company said.

Consumer demand for canned meats, such as corned beef and Spam, as well as refrigerated meats soared.

Sales of dairy products also grew by double digits.

The flour segment, meanwhile, registered a slight growth in revenues, driven by the increased demand for breads by households and the resumption of operations of institutional customers, it said.

San Miguel Brewery Inc.’s income in the first half fell 62 percent to P5.03 billion, from last year’s P13.25 billion as sales dropped. Its revenues in the first half ended at P42.79 billion, down 39 percent from last year's P70.28 billion.

Liquor maker Ginebra San Miguel

mutual funds

Inc., meanwhile, managed to grow slightly to P14.84 billion, from last year’s P14.69 billion.

Net income rose 28 percent to P1.26 billion, from P980 million last year, a turnaround from its first quarter performance.

The company said it remains optimistic given the recovery in actual volume which started mid-May and continued to July, with beer posting a double-digit volume increase from June to July. Spirits volumes remained strong, with July recording higher annual volumes.

“On the food side, there has been an increase in the number of food service and institutional customers resuming operations, paving the way for a recovery in the segment in the coming months,” it said.

“SMFB remains fundamentally sound with a strong balance sheet, relatively light debt service obligations, and sufficient liquidity. It has reduced its planned expenses for the year without sacrificing long-term investments.”

August 5, 2020

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 190.55 -29.25% -11.29% -6.66% -24.34% ATRAM Alpha Opportunity Fund, Inc. -a 1.0054 -39.2% -14.27% -6.78% -27.25% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.5487 -39.11% -16.05% -9.3% -30.71% Climbs Share Capital Equity Investment Fund Corp. -a 0.6552 -32.97% -13.35% n.a. -27.04% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6501 -27.4% n.a. n.a. -23.45% First Metro Save and Learn Equity Fund,Inc. -a 4.0956 -26.61% -10% -6.33% -23.13% First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.641 -28.57% -12.66% n.a.

-24.91% MBG Equity Investment Fund, Inc. -a 77.2 -35.89% n.a. n.a. -25.21% PAMI Equity Index Fund, Inc. -a 38.1032 -28.85% -9.93% -5.65% -25.7% Philam Strategic Growth Fund, Inc. -a 411.62 -26.4% -9.05% -5.7% -22.74% Philequity Alpha One Fund, Inc. -a,d,5 0.8437 n.a. n.a. n.a.

-18.1% Philequity Dividend Yield Fund, Inc. -a 0.9745 -28.25% -9.39% -5.35% -24.28% Philequity Fund, Inc. -a 28.5649 -28.21% -9.03% -5.12% -24.63% Philequity MSCI Philippine Index Fund, Inc. -a 0.7539 -29.42% n.a. n.a. -25.95% Philequity PSE Index Fund Inc. -a 3.8769 -28.68% -9.45% -5.03% -25.78% Philippine Stock Index Fund Corp. -a 649.82 -28.42% -9.38% -5.2% -25.48% Soldivo Strategic Growth Fund, Inc. -a 0.5869 -38.54% -13.39% -9.16% -31.07% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.0137 -32.29% -10.78% -6.3% -28.4% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.7448 -28.58% -9.58% -5.19% -25.58% United Fund, Inc. -a 2.7451 -28.06% -8.17% -4.47% -24.86% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 87.2279 -28.23% -8.92% -4.4% -25.42% Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b

$1.0383 9.27% 0.03% 1.69% 0.96% Sun Life Prosperity World Voyager Fund, Inc. -a $1.4749 12.53% 7.52% n.a.

6.98% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.56 -11.81% -4.2% -3.71% -0.18% ATRAM Philippine Balanced Fund, Inc. -a 2.0213 -14.47% -5.12% -2.5% -7.33% First Metro Save and Learn Balanced Fund Inc. -a 2.3609 -12.8% -3.83% -3.67% -10.28% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.181 n.a. n.a. n.a.

-20.79% NCM Mutual Fund of the Phils., Inc. -a 1.8103 -8.22% -1.68% -0.84% -7.71% PAMI Horizon Fund, Inc. -a 3.4229 -10.93% -2.9% -2.05% -9.66% Philam Fund, Inc. -a 15.2574 -11.64% -3.2% -2.21% -10.04% 1.8777 -13.96% -4.38% -2.18% -11.52% Solidaritas Fund, Inc. -a Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.1982 -19.47% -5.53% -3.49% -17.22% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9219 -11.53% n.a. n.a.

-9.24% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.8138 -21.52% n.a. n.a. -18.33% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.7868 -23.89% n.a. n.a. -20.78% Sun Life Prosperity Dynamic Fund, Inc. -a 0.7849 -22.85% -6.65% -4.75% -19.48% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03953 4.83% 3.31% 2.16% 3.48% 2.03% 1.9% PAMI Asia Balanced Fund, Inc. -b $1.0312 4.14% 0.71% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.0749 7.71% 5.35% 4.46% 4.2% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.156 4.29% 2.92% n.a.

2.42% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 367.4 4.3% 3.18% 2.58% 2.64% ATRAM Corporate Bond Fund, Inc. -a 1.9468 2.09% 1.11% -0.05% 2.36% Cocolife Fixed Income Fund, Inc. -a 3.1977 4.55% 5.02% 5.03% 2.56% Ekklesia Mutual Fund Inc. -a 2.3051 4.44% 3.04% 2.36% 3.67% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.435 4.15% 3.27% 1.84% 3.22% 4.6691 9.46% 4.59% 2.78% 6.77% Philam Bond Fund, Inc. -a Philam Managed Income Fund, Inc. -a,6 1.3043 6.01% 4.24% 2.35% 3.79% Philequity Peso Bond Fund, Inc. -a 3.9626 6.44% 4.46% 2.35% 4.6% Soldivo Bond Fund, Inc. -a 1.0388 9.42% 3.81% 1.86% 7.73% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1785 5.56% 4.87% 2.87% 3.35% Sun Life Prosperity GS Fund, Inc. -a 1.7464 4.51% 4.26% 2.36% 2.66% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $477.98 3.74% 2.6% 2.78% 2.05% ALFM Euro Bond Fund, Inc. -a Є216.64 -1.16% 0.69% 1.03% -1.43% 3.05% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.244 4.73% 3.33% 2.76% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0265 3.11% 2.1% 1.66% 2.71% PAMI Global Bond Fund, Inc -b $1.0944 0.29% 0.5% 0.58% 0.07% Philam Dollar Bond Fund, Inc. -a $2.5107 6.06% 3.96% 3.43% 4.46% Philequity Dollar Income Fund Inc. -a $0.0610601 2.51% 2.15% 1.91% 1.26% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.2534 4.18% 2.55% 2.75% 2.46% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 128.63 3.63% 3.28% 2.47% 2.23% First Metro Save and Learn Money Market Fund, Inc. -a 1.0434 2.49% n.a. n.a.

1.67% 2.95% 3.03% 2.59% 1.67% Sun Life Prosperity Money Market Fund, Inc. -a 1.2861 Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0467 1.62% n.a. n.a.

0.81% Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 1.0136 n.a. n.a. n.a. n.a.

Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $0.95 n.a. n.a. n.a.

-4.04%

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

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

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

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

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

pifa.com.ph to see the latest NAVPS/NAVPU."

www.businessmirror.com.ph

PSE STOCK QUOTATIONS

August 5, 2020

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

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

46 90.85 65.5 20 7.2 34.85 8 19.72 47.25 15.72 88.5 53 0.67 20.75 2.45 0.27 680 0.6 154 1

46.2 91 65.95 20.05 7.25 34.9 8.2 19.74 48.4 15.98 88.9 53.05 0.75 21.6 2.64 0.285 730 0.61 158 1.14

44.55 87.2 65.5 19.7 7.3 33.8 8.01 19.9 47.2 15.72 89.25 53.1 0.73 21.3 2.42 0.275 745 0.63 155 1.01

46.15 91.5 66.5 20.05 7.3 35.3 8.01 19.9 47.25 15.98 90.1 53.8 0.75 21.7 2.65 0.275 745 0.63 156 1.01

44.55 87.2 64.95 19.7 7.2 33.8 8 19.74 47.2 15.6 88 53 0.67 21.3 2.41 0.265 745 0.6 154 1

46.15 91 65.5 20.05 7.2 34.9 8 19.74 47.25 15.72 88.5 53.05 0.75 21.65 2.65 0.265 745 0.6 154 1

2200 4024770 2970940 78400 73200 4891100 6000 62600 600 5600 925780 22830 11000 13400 37000 220000 10 53000 230720 5086000

101200 365079687.5 195161429 1566756 528833 170687495 48002 1238654 28325 87954 82533387.5 1211968.5 8070 285965 90870 59350 7450 32130 35531100 5086300

96745 119530776.5 -18188107.5 -86210 -87916 -34379135 -702904.0001 -62880 -48887343.5 -319410 -1340 -35426230 -

INDUSTRIAL AC ENERGY 2.62 2.63 2.68 2.71 2.61 2.63 16007000 42449630 1028480 ALSONS CONS 1.2 1.21 1.15 1.23 1.15 1.21 931000 1118350 300 ABOITIZ POWER 24.5 24.55 25 25.3 24.5 24.5 859700 21404350 -10128890 BASIC ENERGY 0.17 0.173 0.163 0.173 0.163 0.173 2330000 391820 FIRST GEN 26.7 26.75 26.8 27 26.4 26.7 451400 12059120 4899730 FIRST PHIL HLDG 58.65 60 58.1 58.8 58.1 58.65 95170 5580712 -4995989 258 261.2 261.4 264.8 258 258 268730 70,087,382( 10,392,081.9997) MERALCO 12.7 12.72 12.5 12.72 12.44 12.72 2642000 33470920 -3123532 MANILA WATER 3.09 3.1 3.06 3.12 3.06 3.1 1488000 4605310 976430 PETRON 3.17 3.32 3.42 3.42 3.16 3.18 37000 118060 PETROENERGY PHX PETROLEUM 11.14 11.4 11.08 11.4 11.08 11.4 89000 1008328 PILIPINAS SHELL 17.4 17.42 17.1 17.5 17.1 17.4 499200 8627790 2261470 SPC POWER 8 8.05 7.99 8.04 7.95 8 179500 1431331 AGRINURTURE 7.3 7.43 7.3 7.44 7.2 7.43 84800 617310 187222 AXELUM 2.15 2.16 2.05 2.17 2.01 2.15 11852000 24218750 85840 CENTURY FOOD 14.64 14.86 14.5 14.86 14.5 14.64 8255600 120321448 -80944386 DEL MONTE 6 6.09 5.98 6.09 5.7 6.09 574000 3400133 -1693670 DNL INDUS 4.5 4.6 4.55 4.56 4.5 4.5 3746000 16924930 -8276490 9.09 9.1 9.09 9.12 9.06 9.1 1973400 17962214 -2280441 EMPERADOR 62.25 62.9 62.3 63.95 62 62.9 93360 5853983.5 -4075427.5 SMC FOODANDBEV 0.61 0.63 0.61 0.63 0.61 0.63 177000 108290 ALLIANCE SELECT FRUITAS HLDG 1.22 1.23 1.25 1.27 1.21 1.23 8364000 10267620 125470 33.9 34 33 33.9 33 33.9 86000 2879495 2446585 GINEBRA 131 132.5 128 133.4 128 131 870380 114195523 54749506 JOLLIBEE MACAY HLDG 6.81 7.4 7.15 7.5 7.15 7.5 10500 75617 MAXS GROUP 4.41 4.45 4.5 4.52 4.41 4.41 936000 4173620 142549.9999 SHAKEYS PIZZA 5.59 5.6 5.6 5.99 5.58 5.6 2753800 15440458 -1754151 ROXAS AND CO 1.18 1.19 1.18 1.21 1.16 1.19 2499000 2941210 ROXAS HLDG 1.4 1.66 1.4 1.4 1.4 1.4 9000 12600 SWIFT FOODS 0.102 0.108 0.108 0.108 0.108 0.108 10000 1080 131.5 132.1 131.1 133.5 131.1 131.5 1382320 182764809 51526530 UNIV ROBINA 0.78 0.79 0.76 0.79 0.76 0.79 1237000 960190 120120 VITARICH 51.5 54.95 56.5 56.5 52 52.05 2420 127026 CONCRETE A CONCRETE B 53 55.9 52.2 56 51.3 53 2010 107577.5 CEMEX HLDG 0.99 1 0.92 1.01 0.92 1 35834000 35012400 -5490530 3.9 4.19 3.9 3.9 3.9 3.9 5000 19500 DAVINCI CAPITAL EAGLE CEMENT 10.2 10.3 10.08 10.4 10.08 10.3 35200 359564 26682 EEI CORP 5.02 5.05 5.05 5.09 5 5.02 254200 1277546 42130 HOLCIM 5.26 5.28 4.97 5.29 4.93 5.28 1468000 7586620 249020 MEGAWIDE 6.66 6.67 6.75 6.75 6.65 6.67 1246100 8337590 -2577560 PHINMA 8.36 8.9 9 9 9 9 2500 22500 TKC METALS 0.66 0.7 0.65 0.7 0.64 0.64 417000 270030 0.72 0.73 0.74 0.74 0.72 0.73 824000 602970 VULCAN INDL CROWN ASIA 1.84 1.89 1.82 1.88 1.82 1.88 18000 33300 EUROMED 2 2.04 2.08 2.13 1.95 2.04 1474000 2979740 121370 3.61 3.81 3.83 3.83 3.83 3.83 2000 7660 7660 MABUHAY VINYL 4.03 4.1 4.03 4.03 4.02 4.02 7000 28160 PRYCE CORP CONCEPCION 18.3 18.98 18.3 18.3 18.1 18.1 1500 27350 GREENERGY 1.7 1.71 1.65 1.77 1.65 1.71 3783000 6477820 -408210 INTEGRATED MICR 4.64 4.65 4.6 4.7 4.6 4.65 129000 599600 -55620 IONICS 0.95 0.97 0.95 0.98 0.95 0.97 41000 39570 PANASONIC 4.16 4.77 4.01 4.78 4.01 4.78 3000 13400 SFA SEMICON 1.41 1.42 1.4 1.42 1.36 1.42 3400000 4760410 -72570 CIRTEK HLDG 5.87 5.88 5.55 5.99 5.55 5.88 2062500 11982225 109917

HOLDING & FRIMS ABACORE CAPITAL 0.48 0.485 0.47 0.49 0.465 0.485 6590000 3165650 ASIABEST GROUP 7.71 7.94 7.91 7.93 7.51 7.93 7700 60834 AYALA CORP 700 700.5 710 713 700 700 200870 141335590 ABOITIZ EQUITY 45.8 45.85 46 46.05 45.4 45.8 908400 41656340 ALLIANCE GLOBAL 5.59 5.6 5.6 5.62 5.49 5.6 38938400 214934292 AYALA LAND LOG 1.73 1.74 1.66 1.74 1.65 1.73 2104000 3616210 0.58 0.6 0.59 0.6 0.57 0.6 1694000 992040 ATN HLDG A ATN HLDG B 0.57 0.6 0.57 0.6 0.55 0.6 36000 20460 COSCO CAPITAL 4.88 4.89 5 5 4.87 4.89 4283000 21273170 3.73 3.74 3.67 3.75 3.67 3.73 8410000 31349510 DMCI HLDG 8.5 8.58 8.2 8.5 8.2 8.5 18200 154490 FILINVEST DEV FJ PRINCE B 2.81 3.98 3.83 3.83 3.83 3.83 3000 11490 GT CAPITAL 405 405.2 409 416 404 405.2 208610 84950852 HOUSE OF INV 2.89 3.04 2.92 2.92 2.9 2.9 32000 92920 JG SUMMIT 60.75 61.5 61.1 62.45 60.75 60.75 618950 38011339.5 JOLLIVILLE HLDG 4.38 4.86 4.52 4.88 4.5 4.88 2100 9508 LODESTAR 0.59 0.6 0.58 0.6 0.58 0.59 566000 333660 LOPEZ HLDG 2.33 2.37 2.35 2.37 2.32 2.33 659000 1544050 7.41 7.5 7.45 7.57 7.36 7.5 3783000 28181482 LT GROUP 0.46 0.51 0.5 0.51 0.49 0.51 34000 16800 MABUHAY HLDG METRO PAC INV 3.1 3.11 3.07 3.14 3.07 3.11 29145000 90606790 0.73 0.76 0.7 0.76 0.7 0.76 84000 61130 PRIME MEDIA SYNERGY GRID 152 170 152 170 152 152 2600 417134 SM INVESTMENTS 869 870 880 888 866 870 451400 397308285 SAN MIGUEL CORP 96.95 97 98.5 98.8 96.8 97 230510 22428330.5 SOC RESOURCES 0.66 0.69 0.69 0.7 0.66 0.66 103000 70110 TOP FRONTIER 122 124.4 123.5 124.5 123.5 124.5 2470 306187 WELLEX INDUS 0.178 0.19 0.178 0.178 0.178 0.178 50000 8900 ZEUS HLDG 0.148 0.15 0.15 0.15 0.147 0.148 3610000 538910

-388700 -71911440 7237230 -190884085 -622350 -1605750 -44415088 -92920 -20054359 -172270 -19597742 -28839020 185727575 9691225.5 -

PROPERTY ARTHALAND CORP 0.51 0.52 0.51 0.51 0.5 0.51 515000 261990 AYALA LAND 32.5 32.8 32 33.2 32 32.5 13408100 436062950 ARANETA PROP 0.99 1 1 1 0.99 1 138000 137460 BELLE CORP 1.34 1.36 1.33 1.36 1.33 1.36 11000 14730 A BROWN 0.75 0.77 0.78 0.78 0.74 0.76 5459000 4126370 CITYLAND DEVT 0.75 0.77 0.74 0.74 0.74 0.74 79000 58460 0.117 0.119 0.117 0.119 0.117 0.119 960000 112360 CROWN EQUITIES CEB LANDMASTERS 5 5.04 5.04 5.04 5 5.04 478500 2405579 0.355 0.36 0.355 0.36 0.355 0.36 380000 136350 CENTURY PROP CYBER BAY 0.255 0.275 0.275 0.28 0.275 0.28 130000 36250 DOUBLEDRAGON 15.98 16 16.1 16.2 15.98 15.98 221000 3538404 6.05 6.1 6 6.1 6 6.1 528800 3225200 DM WENCESLAO EMPIRE EAST 0.243 0.247 0.241 0.247 0.241 0.247 390000 94470 EVER GOTESCO 0.091 0.099 0.099 0.099 0.087 0.099 260000 24420 FILINVEST LAND 0.84 0.85 0.85 0.85 0.83 0.84 16252000 13656220 GLOBAL ESTATE 0.79 0.8 0.8 0.81 0.8 0.8 213000 170750 8990 HLDG 8.35 8.37 8.41 8.41 8.38 8.38 28000 234670 PHIL INFRADEV 0.84 0.85 0.84 0.86 0.84 0.85 271000 230540 0.68 0.75 0.68 0.68 0.68 0.68 2000 1360 CITY AND LAND MEGAWORLD 2.98 2.99 2.99 3.01 2.95 2.99 18690000 55756230 0.233 0.235 0.221 0.238 0.219 0.233 66980000 15398660 MRC ALLIED 0.285 0.29 0.29 0.29 0.29 0.29 90000 26100 PHIL ESTATES PRIMEX CORP 1.3 1.33 1.35 1.35 1.29 1.33 28000 36320 14.22 14.32 14.2 14.5 14.2 14.22 2810800 40267682 ROBINSONS LAND PHIL REALTY 0.224 0.23 0.224 0.224 0.224 0.224 20000 4480 ROCKWELL 1.51 1.55 1.5 1.5 1.5 1.5 240000 360000 STA LUCIA LAND 1.8 1.85 1.85 1.86 1.85 1.86 15000 27770 SM PRIME HLDG 29 29.1 28.55 29.3 28.5 29 10324300 299933890 VISTAMALLS 3.75 3.88 3.79 3.92 3.74 3.9 105000 404610 SUNTRUST HOME 1.12 1.13 1.1 1.12 1.08 1.12 1230000 1366870 2.93 2.98 2.98 3.08 2.92 2.93 4420000 13197460 VISTA LAND

18360 187469470 18500 501 -1875968 -30500 9900 -3827580 -119834 -21245170 -241900 1300 -19421118 -3720 13099950 -563370

SERVICES ABS CBN 7.31 7.34 7.35 7.48 7.3 7.31 133700 982291 GMA NETWORK 5.02 5.07 5.04 5.15 5 5.02 1714500 8613948 MANILA BULLETIN 0.38 0.395 0.38 0.39 0.38 0.39 480000 184750 MLA BRDCASTING 11.02 11.7 11.02 11.02 11.02 11.02 800 8816 GLOBE TELECOM 2106 2108 2096 2116 2094 2106 70160 147787350 PLDT 1350 1360 1345 1378 1340 1353 221295 300197250 0.049 0.052 0.049 0.052 0.047 0.052 9400000 464500 APOLLO GLOBAL DFNN INC 2.9 2.92 2.73 2.9 2.73 2.9 43000 124320 DITO CME HLDG 2.73 2.74 2.72 2.82 2.72 2.74 19365000 53462350 0.068 0.07 0.068 0.068 0.068 0.068 250000 17000 ISLAND INFO JACKSTONES 1.61 1.68 1.66 1.69 1.61 1.61 47000 78420 NOW CORP 1.98 1.99 1.97 2 1.95 1.99 2174000 4321390 TRANSPACIFIC BR 0.17 0.172 0.17 0.172 0.169 0.17 2480000 422650 PHILWEB 1.86 1.87 1.86 1.87 1.83 1.87 238000 441510 2GO GROUP 8.4 8.48 8.36 8.6 8.3 8.48 27600 232620 CHELSEA 3.34 3.35 3.3 3.37 3.3 3.35 279000 932320 CEBU AIR 37.9 39.65 35.3 39.7 35.3 39.65 585100 21,406,470( INTL CONTAINER 96.85 97 95.5 97.35 94 97 1190570 115400937.5 13.88 14.36 13.82 14.38 13.82 14.36 2400 33396 LBC EXPRESS MACROASIA 5.29 5.3 5.15 5.34 5.15 5.3 3110500 16392485 1.74 1.77 1.84 1.84 1.72 1.77 889000 1572440 METROALLIANCE A METROALLIANCE B 1.68 2.22 1.68 1.68 1.68 1.68 4000 6720 PAL HLDG 5.92 5.95 5.9 5.95 5.9 5.92 12100 71536 0.77 0.78 0.76 0.79 0.75 0.77 148000 115750 HARBOR STAR BOULEVARD HLDG 0.034 0.035 0.036 0.037 0.033 0.034 223100000 7734800 GRAND PLAZA 10.18 11.7 11.02 11.92 11.02 11.92 3900 43158 IPEOPLE 7.04 8.78 7.01 7.01 7.01 7.01 500 3505 STI HLDG 0.29 0.295 0.295 0.295 0.29 0.295 1750000 514050 BERJAYA 2.1 2.16 2.11 2.18 2.1 2.16 141000 297560 BLOOMBERRY 6.28 6.35 6.17 6.4 6.17 6.28 7378200 46337513 1.95 2.05 1.96 2.07 1.96 2.07 68000 133390 PACIFIC ONLINE LEISURE AND RES 1.19 1.25 1.23 1.25 1.23 1.25 67000 82940 PH RESORTS GRP 2.1 2.17 2.01 2.16 2.01 2.1 19000 39690 PREMIUM LEISURE 0.285 0.295 0.285 0.295 0.28 0.295 2450000 701050 ALLHOME 6.35 6.38 6.29 6.4 6.29 6.35 808300 5145589 1.44 1.46 1.4 1.46 1.4 1.46 353000 508070 METRO RETAIL PUREGOLD 48 48.55 48.7 48.95 48 48 1519300 73718065 ROBINSONS RTL 58.75 59 59.6 59.6 58.8 59 716280 42445879.5 PHIL SEVEN CORP 125 126 123 125.9 123 125 34560 4320186 SSI GROUP 1.02 1.03 1.02 1.04 1.01 1.03 1599000 1636180 WILCON DEPOT 14.9 15 14.8 15 14.7 15 1720900 25774784 APC GROUP 0.31 0.315 0.31 0.315 0.3 0.315 410000 125350 6.2 6.3 6.06 6.42 6.01 6.2 21400 130820 EASYCALL GOLDEN BRIA 280.4 300 300 300 300 300 500 150000 4.48 5.39 4.48 4.48 4.48 4.48 3000 13440 IPM HLDG PRMIERE HORIZON 0.213 0.216 0.21 0.215 0.21 0.215 1280000 271430 4.24 4.75 4.06 4.96 4.06 4.74 31000 140620 SBS PHIL CORP

31652470 -101977060 1118240 -1134600 -80000 -36760 -18668 8,334,024.9999) -1097217 1108504 5920 255999.9995 -280250 4649150 -836036 43500 -39553335 -34601776.5 -25426 -240310 -9872974 -6000 -12600 -

MINING & OIL ATOK 7.6 8 8.16 8.16 7.6 8.03 4800 37775 APEX MINING 1.71 1.72 1.69 1.71 1.65 1.71 26303000 44465550 -1399150 ABRA MINING 0.0008 0.0009 0.0008 0.0008 0.0008 0.0008 256000000 204800 ATLAS MINING 2.65 2.68 2.73 2.73 2.64 2.68 311000 830130 208220 BENGUET A 2.21 2.24 2 2.32 1.99 2.21 1436000 3121660 2.15 2.22 2 2.25 2 2.22 536000 1141850 -71060 BENGUET B 0.192 0.203 0.187 0.203 0.186 0.203 430000 83620 COAL ASIA HLDG CENTURY PEAK 2.6 2.64 2.62 2.62 2.6 2.6 338000 882560 DIZON MINES 7.61 7.76 7.55 7.8 7.52 7.76 34500 263087 FERRONICKEL 1.12 1.14 1.11 1.17 1.11 1.12 17370000 19707640 -37670 0.235 0.236 0.232 0.235 0.231 0.235 190000 44320 GEOGRACE LEPANTO A 0.161 0.162 0.164 0.17 0.158 0.162 105540000 17068890 LEPANTO B 0.161 0.162 0.161 0.164 0.16 0.161 5180000 837990 123970 MANILA MINING A 0.01 0.011 0.011 0.012 0.01 0.011 368100000 4109300 MANILA MINING B 0.01 0.011 0.011 0.012 0.01 0.011 109700000 1178900 MARCVENTURES 0.84 0.85 0.84 0.88 0.84 0.85 2766000 2376700 25200 NIHAO 1.62 1.63 1.51 1.67 1.51 1.62 2908000 4654160 -287600 2.78 2.79 2.7 2.81 2.7 2.78 25116000 69308770 10251210 NICKEL ASIA 0.38 0.395 0.395 0.395 0.395 0.395 60000 23700 OMICO CORP ORNTL PENINSULA 0.57 0.58 0.57 0.58 0.57 0.58 1779000 1023580 PX MINING 3.49 3.5 3.47 3.55 3.43 3.5 10068000 35185200 -4024130 10.4 10.44 10.06 10.44 10.06 10.44 5935200 61487312 -15868178 SEMIRARA MINING 0.0054 0.0056 0.0057 0.0059 0.0054 0.0054 121000000 677700 UNITED PARAGON ACE ENEXOR 5.93 6.1 6.1 6.1 5.91 6.1 12200 74257 ORNTL PETROL A 0.0084 0.0086 0.0083 0.0087 0.0083 0.0086 50000000 427200 PHILODRILL 0.0095 0.0096 0.009 0.0099 0.009 0.0096 193000000 1849900 9500 PXP ENERGY 5.35 5.37 5.31 5.5 5.22 5.35 873800 4651440 -250

PREFFERED HOUSE PREF A 100.4 101 101.1 101.1 101 101 5120 517123 CPG PREF A 101 102 100.7 100.7 100 100 19690 1973244 436000 DD PREF 100.6 101.3 101 101 101 101 800 80800 FGEN PREF G 104 105.9 105.9 105.9 104 104 25000 2601315 GTCAP PREF A 1000 1010 995 1000 990 1000 500 498950 MWIDE PREF 100.5 101.5 101.5 101.5 101.5 101.5 9500 964250 106 108 107 107 107 107 100 10700 PNX PREF 3B PNX PREF 4 1007 1028 1018 1034 1000 1010 14440 14505205 PCOR PREF 2B 1020 1050 1050 1050 1040 1040 15 15650 PCOR PREF 3A 1050 1060 1060 1060 1060 1060 2010 2130600 SMC PREF 2C 78 78.5 78.5 78.5 78 78 53200 4151889 SMC PREF 2G 75.75 76.95 76.95 76.95 76.95 76.95 30 2308.5 SMC PREF 2I 78.3 79 79 79 79 79 81500 6438500

PHIL. DEPOSITARY RECEIPTS GMA HLDG PDR 4.57 4.63 4.68 4.68 4.55 4.63 1861000 8564940 -8301150

WARRANTS LR WARRANT 0.62 0.67 0.62 0.67 0.62 0.67 22000 14590

SMALL & MEDIUM ENTERPRISES ALTUS PROP 12.92 12.94 13.2 13.7 12.8 12.92 1304200 17148334 -304420 ITALPINAS 1.89 1.9 1.92 1.93 1.86 1.89 5462000 10393700 4221500 KEPWEALTH 5.11 5.18 5.08 5.18 5.08 5.18 41900 215365 MAKATI FINANCE 1.89 2.14 1.89 1.89 1.89 1.89 2000 3780 MERRYMART 2.75 2.76 2.75 2.84 2.74 2.76 42970000 119986140 -156690 XURPAS 0.55 0.56 0.56 0.56 0.54 0.56 811000 445170 35200

EXHANGE TRADE FUNDS

FIRST METRO ETF 88.7 90 89 91 89 89 12630 1132081.5 159681

Editor: Anne Ruth Dela Cruz

Health&Fitness BusinessMirror

Timing is key to accurate

COVID-19 test diagnosis

W

By Anne Ruth Dela Cruz

hile the RT-PCR test is considered the gold standard in testing for the Covid-19 virus, it is important that the test is administered at the right time to ensure the accuracy of the diagnosis.

In a special episode of the webinar series organized by The Medical City (TMC) Monday titled “The New Norm Series: Coping in a Quarantine Community” which tackled “Covid-19 Tests: What are they and what are they not?” Dr. Karl Events Henson, Head of TMC’s Hospital Infection Control and Epidemiology Center, said the kind of test the patient will undergo will depend on where he is “in the cycle” of the virus.

“You have to know when you are infected,” Dr. Henson said. “You have to know when your symptoms started so that the doctors can determine the kind of test that will be administered to you.”

genetic material that can be found at the center of the virus cell and this is what is duplicated to enable the virus to multiply.

The Antibody is produced by the body in response to a foreign body. The Antigens, on the other hand, are pieces of the virus that is detected by the human body in order to produce antibodies.

“When we consider detecting genetic materials, that usually means RT-PCR and this is known as the gold standard in detecting the Covid-19 virus,” Dr. Henson said. “The test sample starts to be positive two to three days before the onset of the symptoms and then it peaks at the start of the symptoms and then it tapers off.”

Onset of symptoms

Test positivity

He noted that the virus in the nose and in the respiratory tract start to grow around a week before the symptoms start to show and can already be detected two or three days before the onset of the symptoms. After the body encounters the virus, the body will start producing antibodies, usually beyond the first week, either on Day 7 or Day 8.

Currently, there are three tests, or more specifically, three molecules that are used to detect the Covid-19 virus— RNA, Antibody and Antigen. RNA is the

Hence, it is important that the RT-PCR test is administered at the onset of the symptoms. The positivity of the test, Dr. Henson said, also depends on the quality of the sample because if the sample is not taken properly, there will be a false negative result.

“Since genetic material can stay in the respiratory tract for a long time, RT-PCR should not be used to monitor recovery,” Dr. Henson said. “Getting two negative RT-PCR tests used to be the basis for the discharge of Covid-19 patients but this

is no longer the practice.”

The Antibody test is the ECLIA test that is available at TMC and the ELISA test is the test being provided free of charge by the Manila City government.

Antibodies start to show after seven days on the onset of the symptoms.

“Antibody tests should not be used to diagnose acute infection. If you just started to have symptoms then you don’t need an antibody test at that point in time. What you need is an RT-PCR,” Dr. Henson said. “An antibody test may be useful in several scenarios like a recovered or asymptomatic patient who wishes to confirm the presence of antibodies in preparation for plasma donation.”

Pieces of the virus

The third test are those that detect antigens. Antigens are pieces of the virus and “we know that when you detect the presence of the virus, we know that you are detecting acute infection.”

“So like RT-PCR, antigen tests can also be used to detect acute infection. The sample for Antigen tests can be obtained from the nose because it needs the sample of the virus,” Dr. Henson said. “Compared to RT-PCR tests, Antigen tests are much cheaper when cost is considered.”

At the end of his talk, Dr. Henson reminded that the best time to take the RT-PCR and antigen test is when the symptoms are visible. The antibody test should be used in the second, third and fourth week and should not be used to diagnose the acute infection.

“If you have moderate or severe s ymptoms, please get yourselves checked even through telemedicine,” Dr. Henson said. “If you feel that your symptoms are urgent enough, drive yourself to the nearest emergency department. Always consult your doctor

so that they will know what test should be given to you.”

Stop rapid antibody tests

Meanwhile, Dr. Antonio Dans, spokesman for the Healthcare Professions Alliance Against Covid-19 reiterated their appeal to the government to halt the use of rapid antibody test kits for workers returning to work, stressing that it could not accurately detect the virus.

At the Philippine College of Physicians health forum titled “Solidarity in Combatting Covid-19,” Dr. Dans also warned that if half of the population in the workplace, for example, were undetected for Covid-19, they would become carriers.”

“Dapat ihinto na yang rapid antibody test nayan. Sa buong mundo, tayo na lang yata ang gumagamit niyan,” Dr. Dans said.

The call was echoed by Dr. Aileen Espina of the Philippine Society of Public Health Physicians who said the test would give a “false level of security.”

For their part, the Department of Health said they have been constantly reminding the public that rapid antibody testing should not be used as a stand alone test to definitively diagnose or rule out Covid-19 as stipulated in the Department Memorandum 2020-0258.

They added that they also stipulated in the DOH guidelines that consultation with a doctor with regard to rapid antibody testing is necessary to ensure proper timing of testing and correct interpretation of results.

“We are currently in the process of developing omnibus guidelines on the use of the different types of test kits so as to strictly specify what these different types of tests are for and the conditions under which they may be used,” the DOH concluded. ­— with a report from Claudeth Mocon-Ciriaco

Get a flu shot to strengthen immunity

By Claudeth Mocon-Ciriaco

W

hile the world is still waiting for the Covid-19 vaccine, there are other safety measures apart from hand-washing and physical distancing that can help in the efforts to stay healthy amid the pandemic.

Immunization advocate Philippine Foundation for Vaccination (PFV) reminded everyone, especially the elderly, of the importance of getting the flu vaccine to lessen the risk of getting sick as the country is faced with this health crisis.

The PFV issued the reminder as senior citizens are more susceptible to being infected by the Covid-19 virus and other infectious diseases. The flu and Covid-19 have similar symptoms such as fever, cough, body aches, fatigue, and sore throat.

The Department of Health (DOH) recently reported that the flu and pneumonia vaccines can help prevent complications from Covid-19.

Be proactive in fight against disease

PFV President Dr. Liza Gonzales underscored the importance of being proactive in fighting not just COVID-19 but also other infectious diseases that continuously affect the lives of many Filipinos.

“While we all look forward to the development of the Covid-19 vaccine, we must also take the initiative to protect ourselves against many health threats in the environment,” Gonzales said.

Although the flu vaccine cannot prevent Covid-19, it can still “help protect even the most vulnerable among us against complications from the

disease, making it a beneficial option we can take advantage of to keep ourselves healthy.”

With this, the PFV called on the public to continue immunization during the community quarantine and prioritize the elderly in their recent webinar titled “Protect The Elderly.”

Weakened immune system

“As people age, the immune system grows weaker, making it susceptible to infections and diseases,” Internist and Infectious Disease Specialist Dr. Arthur Dessi Roman explained in the webinar recently.

He added, “Since we are a culture that values the closeness of a family, it is not uncommon for us to live with many relatives, and some of them are senior citizens. It is, then, highly important

for us to get them vaccinated to add a layer of protection from diseases.”

According to the Philippine Center for Disease Control, citizens 65 years and older account for 50 to 70 percent of the seasonal flu-related hospitalizations. In the Philippines, 28 percent of households have elderly residents above 60 years of age.

Aside from the fear of being exposed to the virus, the main barrier for widespread immunization is the restriction of movement and activities under the community quarantine imposed by the government to locally contain the pandemic.

Dr. Roman noted that medical professionals have developed their own initiatives to continue immunization while the government also recently disclosed that they have programs to support immunization efforts.

Bike your way to fitness with folding e-Bike

T

he country is on its fifth month of quarantine due to the COVID-19 virus and keeping your immune system in tip top shape is a priority.

The World Health Organization continues to emphasize that adults should maintain moderate daily physical activity to enhance muscular strength and physical wellness. Many doctors also advised doing regular home exercises to help increase immunity and resistance from sickness during the pandemic.

One form of exercise that will also help bring you to your destination when there is no public transportation is cycling. Taiwan recently introduced its line of portable folding bikes, one of the fastestgrowing sectors in the bicycle industry where one out of 10 bicycles produced annually in the world is a folding bike. Folding bike makers also got on the recent trend toward e-bikes, or electric bikes.

Folding e-bikes feature two major advantages—it can switch to bicycle mode during exercise, or electric mode during breaks. Pacific Cycles, a Taiwan Excellence awarded company, is a leading e-bike manufacturer that develops high-performance folding bikes and mini velos.

For more than 40 years, it has focused on designing and manufacturing distinctive products, including e-bikes. Their HANDY hand-propelled trike is tailored for the disabled; the REACH folding road bike is for long-distance travel and can be loaded into a 29-inch suitcase; and the IF MOVE for city commuting and folds in just two seconds.

Darfon Innovation established BESV, a smart e-bike brand and proud Taiwan Excellence Silver Award winner with its PSF1 Folding e-Bike. While most folding bikes are designed with an external battery and motor attached to the structure of an ordinary folding bike, the PSF1 was designed as an e-bike from the ground up to enhance the product’s rigidity, electronic control unit, and overall performance.

Taiwan is the leader in the global bicycle market, with an average annual revenue of US$3.8 billion. Bicycle components, which account for over half the yearly revenue, have also provided valuable support to the development of Taiwan’s bicycle industry.

Prime examples include chains manufactured

by KMC, one of the three giants in Taiwan’s bicycle industry. It accounts for more than 80 percent of the global market share. In 2019, as the e-bike sector grew, KMC kickstarted development of e-bike chains and won the e101 e-Bike Chain Award in the 2020 Taiwan Excellence Awards. KMC’s chains are ideal for high-strength, mid-mount motors and with a chainring customized for KMC’s e-bike for more mileage of up to 10,000 km.

The special riveted joints provide superb resistance to tensile and lateral-torsional forces to withstand the tremendous power output generated by the motor when pedaling, and also offers a stable riding experience. The company invested US$26.45 million to establish a state-of-the-art,

BESV’s PSF1, performance folding e-bike

intelligent production line in their Tainan Xinhua Plant to further cement its position as the world’s leading brand.

Meanwhile, Joy Industrial, another Taiwan Excellence Award winner, developed the Asymmetric E-MTB Wheelset for their Novatec brand, designed for off-road terrain. The wheelset is made of asymmetric super rigid aluminum with a strengthened ratchet attached to the hub to enhance steering flexibility and pedaling efficiency.

It is also environment friendly with its tubeless tire design, with recyclable production materials that do not require multi-stage processing.

Lastly is Kenda’s XC Cross-Country Tires that

provide ideal riding experiences. This brand-new product is one of the lightest XC tires on the market and is recognized by the UCI Track Cycling World Cup with its exceptional braking performance and steering control.

The performance of Taiwan’s bicycle industry makes it one of Taiwan Excellence’s strongest national exports ensuring that its bicycles and components are revered internationally.

For further information on high-end bicycle components, visit the official Taiwan Excellence website (www.taiwanexcellence.org/en), or join the Taiwan Excellence Facebook fan page (www.facebook.com/TaiwanExcellence.en) for the latest news.

Thursday, August 6, 2020 B3

Newlywed COUPLE switch to a better smoking ALTERNATIVE Various studies have shown that smokers are able to quit successfully via e-cigs if the nicotine strength in the latter approximates that of conventional cigarettes.

By Lorenz S. Marasigan

N

ewlyweds CA and Pao Goco were your usual smokers, lighting a cigarette whenever stress creeps in and they need a slight hit of nicotine for a quick fix. They had puffed and huffed cigarettes for more than a decade, during times of need and times of success.

For CA, a communication professional for a fast-fashion brand, it started out of mere curiosity, when she saw different packs of cigarettes readily available at her Singapore hotel back when she was in high school.

What started out as curiosity suddenly turned into a habit.

“I usually smoke more when I go out with friends to catch up. It’s a form of socializing, and because I don’t drink, I compensate by smoking,” she says.

Pao, who works for an online marketplace, started smoking out of peer pressure.

“When I ended my career in collegiate basketball, it became a habit.

Then, I started working, and I had my own money, so I smoked more freely without the guilt of using my parents’ money for my vice,” he says.

Both athletes, they noticed something different when smoking became a norm in their lives.

“Whenever I play football, I feel like I was slower compared to my teammates who don’t smoke. I get tired easily,” CA says.

The same is true for Pao. “I noticed that from the time I was an athlete in college, the dip in energy was there. It might be a sign of aging, but I feel like it’s because of smoking as well,” he shares.

Pao also suffered from smoker’s cough, a condition that is best describe as a coughing paired with wheezing and crackling noises that come from the phlegm buildup in the throat.

“The feeling is like you are very thirsty in the morning, and you chronically cough after you wake up. It wasn’t pleasant at all,” Pao says. “I had to look for a better option.”

Finding alternatives

These negative effects, coupled with what they describe as repulsive smell of post-cigarette smoke, made them search for better alternatives for nicotine fixes.

“Because I was reliant to nicotine, I started looking for alternatives to smoking. First, I tried the big vapes, but then I didn’t have the patience to change the coil. Then, I tried the pentype vape, but it wasn’t as satisfying as smoking. Then, I tried the pod-type devices,” he says.

He stuck with the pod-type electronic cigarette because it gives him the satisfaction that comes from the nicotine content of smoking that he wasn’t able to get from other types of e-cigarettes. Various studies have shown that smokers are able to quit successfully via e-cigs if the nicotine strength in the latter approximates that of conventional cigarettes.

It has been a year since he started using the device and now, he swears by it.

Pao was also able to convince his ex-girlfriend and now wife, CA, to shift to e-cigarettes.

“When I was still smoking cigarettes, I noticed that my skin became wrinkly and my nails sometimes turn yellow. My fiancé convinced me to stop because we’re getting married,”

CA says.

She adds that since they got married earlier this year, they have decided that they want to have a child. CA became weary of the stories that she heard and personally witnessed about mothers bearing children with defects all because of smoking.

“I had officemates that had children that suffered from different birth defects such as late development, soft palate, and one was even deaf. The mothers were either smoking or were former smokers. I couldn’t shake it off my mind,” she says. “My doctor told me to prepare myself.”

CA notes that while she is using ecigarettes today, when she gets pregnant she might decide to quit using the vaping device.

Not a walk in the park

Shifting to pod-type devices was almost easy for Pao, as he had tried other vaping devices in the past.

But for CA, it was not exactly a walk in the park.

“It was a struggle at first. I didn’t know how to use it. My eyes watered the first time I used it, but Pao taught me, and I then learned it,” she says.

She quips that she had to continue using e-cigs, because she smells like burnt cigarette after a stick of conventional tobacco product.

“I can really smell myself, and since Pao shifted first, I can really say that he doesn’t smell like smoke at all,” she says.

Pao interjects jokingly: “I didn’t want to be near you because you stink.”

Aside from the taste and the nicotine fix that he gets from using the smoking alternative, Pao says the sleek design and convenience of using the product is what convinced him to stick with the device.

To use a the pod-type e-cigarette, one only needs to have a fully-charged device and a pod of salt nicotine juice.

The pod will be attached to the device and the user can start vaping.

“It’s very handy—it’s even thinner than a normal USB device. It has a sleek design and it’s very convenient.

It doesn’t leave a foul smell after usage,” CA adds.

Noticing improvements

Since they shifted to pen-type vape products, both Pao and CA had seen improvements in their lives.

“My smokers cough was gone.

I don’t have a raspy voice now, and the little things that smoking did to me slowly found their way out of my body,” Pao says.

CA says she felt different after quitting smoking, and noticed that her body is now more active than before.

“My lungs used to feel heavy and my chest a bit sore when I was still smoking. But now, I feel lighter and cleaner,” she explains.

Convincing others to shift

Pao and CA were so convinced that they made the right choice to switch to the smoking alternative that they started persuading their friends to quit smoking and start vaping.

“A lot of our closest friends and family have switched already,” Pao says.

For CA, people should consider new alternatives to see improvements in their lives.

“They should switch because it’s going to be very different lifestyle after the switch and at the same time, the switch should be wholeheartedly.

It cannot be half-hearted,” she says.

TheBroa

Business

B4 Thursday, August 6, 2020 • www.businessmirror.com.ph

Stakeholders grapple w impact on migrants, PH

By Jovee Marie N. Dela Cruz @joveemarie & Samuel P. Medenilla @sam_medenilla,

A

Reporters

DECADE ago, the amendment to Republic Act (RA) 8042 was enacted into RA 10022 on July 8, 2010. Those were different times. With migrant workers under pressure from health woes and employment problems in their host countries, government’s overseas employment policy deemed a temporary solution against unemployment is under scrutiny as the coronavirus disease 2019 (Covid-19) wreaked havoc on labor sending and receiving countries.

the victims.

As of Tuesday, the Department of Foreign Affairs (DFA) revealed 9,607 confirmed cases of Filipinos in 71 countries afflicted with Covid-19.

About 5,681 of them already recovered from the disease while another 3,233 are undergoing treatment. A total of 693 Filipinos were not as fortunate and succumbed to the deadly virus.

The Middle East and North Africa (MENA) region, which is the top destination for overseas Filipino workers (OFWs), has the biggest concentration of Filipinos who were infected with Covid-19 with 6,785. Incidentally, the region also has the most number of Covid-related fatalities with 417.

Health experts said these cases are expected to continue to increase until a vaccine for Covid-19 is finally discovered and become widely used.

Retrenchment wave

This as government data revealed more Filipinos seek jobs abroad.

Based on the initial deployment data from the Philippine Overseas Employment Administration (POEA) at least 460,264 Filipinos sought employment overseas during the first five months of the year. This number represents around half of the 870,015 deployed in the same period last year.

According to Makati Rep. Luis Campos Jr., only a few Filipinos are expected to seek or obtain new employment abroad this year, mainly because many businesses around the world are still shedding jobs.

Campos, a vice chairman of the House Committee on Appropriations, cited an example the recent announcement by a Dubai-based airline, “which employs many

Filipinos,” that it would be cutting 8,000 jobs.

“Other businesses around the world that have dismissed as many workers as they could, have adopted a wait-and-see approach while the pandemic is taking its course and are thus not expected to rehire anytime soon,” Campos added.

Public health

LABOR officials attribute the steep decline in deployment figures to the community quarantine implemented by countries to contain the spread of Covid-19, which has now infected over 18 million people worldwide as of August 4.

Of these cases, 691,013 died from the disease, making it a major public health threat for almost all countries.

Filipinos abroad were among

COVID-19 also battered the economy of many countries as the limited movement of people halted the operations of businesses and arrested demand for goods and services.

The International Labor Organization (ILO) estimated that as many as 400 million workers will be displaced because of the pandemic.

The ILO has said that most of these affected workers are employed in industries hit hard by Covid-19: accommodation and food services; wholesale and retail trade; real estate, business and administrative activities; and, manufacturing.

The Department of Labor and Employment (DOLE) said the pandemic has already affected the employment of at least 3.2 million local workers. Of these figures, 141,958 were permanently displaced.

As of July, Labor and Employment Secretary Silvestre H. Bello III said the pandemic also displaced or reduced the working hours of at least 400,000 OFWs. Of the Covid-affected OFWs, 122,369 were repatriated by the Department of Foreign Affairs and DOLE, and given assistance by the Overseas Workers Welfare Administration (OWWA) and other concerned agencies.

OWWA funds

THE mass repatriation has put considerable strain on the government’s existing mechanism to help OFWs. L a s t m o n t h , t h e O W WA warned that its P18.7-billion trust fund is in danger of being exhausted because of the mounting expenses in providing food, accommodations during quarantine and transportation services for the affected OFWs. The OWWA said it already spent over a billion of its trust fund this year for its Covid response. The agency expects expenses to increase once it launches in the third quarter of this year a P2.5-billion assistance and reintegration program for the affected OFWs. To help pay for these programs, the Department of Budget and

Management (DBM) allocated another P5 billion to augment of OWWA’s existing funds.

With the fresh infusion of funds, OWWA administrator Hans Cacdac said they are now targeting to provide aid to 250,000 OFWs this year.

The labor official said this may include providing cash aid to those who did not benefit from the labor department’s Abot Kamay ang Pagtulong (Akap) program. This program provides Covid-affected OFWs a one-time cash aid of P10,000 (around $200) each.

Last Tuesday, the DOLE reported it has already used P2.324 billion, which benefited 226,714 beneficiaries, of the P2.5-billion budget for the program.

The DOLE is requesting for additional funds to cater to the remaining 11,543 OFWs, who also qualified for AKAP but will not get cash aid because its cash pool is running empty.

Trickled remittances

THE reintegration services will be crucial to ensure returning OFWs would be able to integrate productively in the country’s local jobs sector and minimize the impact of the expected decline in OFW remittance this year.

The Asian Development Bank (ADB) estimated remittances, which serve as one of the main sources of dollar reser ves of the country, could drop by as much as 20.2 percent this year, affecting 8.4-percent recipient households.

The DOLE, however, has made a bleaker projection, saying remittances could decline by as much as 30 percent to 40 percent.

Aside from affecting the country’s finances, Labor Assistant Secretary Dominique R. Tutay said jobless OFWs will form part of the country’s already rising local unemployment.

“It depends whether or not they will actively participate in the labor market and what the outcomes would be,” Tutay said.

“While we hope that employment situation recovers fast, it may not be achieved very soon due to the current pandemic situation.”

Tutay said they plan to hold this month an online jobs fair to provide alternative employment opportunities for displaced OFWs. The April round of the Labor Force Survey by the Philippine Statistics Authority (PSA) showed there were 7.3 million unemployed workers.

Based from its own job displacement report, DOLE said the lockdown measures have already affected the employment of 3.2 million workers. About 141,958 of these were permanently displaced by 6.843 establishments.

Easing restrictions

NOT all was bleak, according to Campos, as many Filipino migrant workers performing “essential” or “critical” services managed to keep their jobs amid the impact of antiCovid measures, like lockdowns, by labor-hosting countries.

“They are mostly in healthcare, finance, merchant shipping and household services,” Campos said.

The easing of restrictions of lockdowns by labor-hosting countries also proved beneficial for aspiring OFWs, especially those with already verified employment contracts. The easing allowed them to still move to and from the country during quarantine period.

However, their deployment remained limited because of the reduced operation capacity of the POEA as well as recruitment agencies within quarantined areas.

Furthermore, the government also temporarily banned the deployment of medical workers for the duration of the Covid-19 crisis to ensure the country will have a sufficient pool of medical professionals, who could assist in its measures for the pandemic.

POEA administrator Bernard P. Olalia also noted there was a “significant decline” in the job orders for OFWs in previous months as countries temporarily closed down their borders to foreigners because of Covid-19.

BusinessMirror tried since July to get the latest job order figures from the POEA to verify Olalia’s claims, but the agency hasn’t replied to this newspaper as of press time.

Crisis pre-Covid

STILL, Olalia said last month they have observed a slight recovery in the number of deployed OFWs, particularly those in the seabased category with the resumption of operations of some cruise ships abroad.

However, Migrante Chairman Joanna Concepcion said it may take years before deployment

figures could return to pre-Covid period levels.

“The Middle East region, where a significant percentage of our temporary migrant workers are deployed each year, was already facing an economic crisis even before the pandemic,” Concepcion told the BusinessMirror.

“Companies were already executing mass layoffs of workers, affecting our OFWs. OFWs who work there would share that many OFWs were being replaced with migrant workers from Africa because they would accept cheaper wages,” she added.

Based on preliminary data from the POEA, the number of deployed OFWs started to decline again in 2019, when it dropped to 1.1 million from 2.09 million in 2018.

Tinkering with contract

WITH the expected gradual increase in the deployment figures in the coming months, both the recruitment industry as well as migrant stakeholders raised concerns regarding the sufficiency of the existing employment contract of OFWs during the time of Covid-19 pandemic.

In a position paper submitted to POEA on June 2, the Coalition of Licensed Agencies for Domestic and Services Workers (Clads) together with five other recruitment agencies, appealed to the POEA to allow changes, through a new issuance, in the employment contract even while OFWs are still abroad.

Currently, the alteration of an employment contract of an already deployed OFW is prohibited under

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with pandemic’s HL labor export policy the 2016 POEA Revised Rules and Regulations.

Among the provisions that Clads want to be ref lected in t he employ ment cont r ac t i s that an OFW must abide by the health safety policies of the host countr y and not be entitled to salaries while on quarantine except when he/she is required to work from his/her home and/or quarantine facility.

They also requested that the OFW must be allowed to “request his/her employer to utilize his/her leave credits, if available, while on quarantine.”

“We cannot overemphasize that requiring the foreign employers to pay the salaries while in quarantine will increase the cost of employing an OFW. Ultimately, we will lose our competitive advantage against our Asian neighbors,” the recruitment organization said in their 5-page letter.

Opportunities missed

TO justify these recommendations, the recruiters cited DOLE’s Labor Advisory 17 series of 2020 or the Guidelines on Employment Preservation upon the Resumption of Business Operations.

The advisory allows employers and their employees to “modify wage-related benefits specified in their individual employment contracts” and engaged in alternative work schemes “to prevent displacement of workers.”

Recruiters pointed out that it is in the best interest of OFW for the implementation of these arrangements since their foreign employer can fire them on account

of the pandemic.

“The displacement of OFWs due to the pandemic is a force majeure for which an OFW has no recourse against the foreign employer and the LRA (local recruitment agency),” the Clads said.

However, they noted that employers must pay the OFW his/ her salaries for the hours worked during the quarantine. “ T he adoption of the proposed measures will ease the financial burdens of the foreign employer who are likewise impacted by the pandemic and assist us in finding employment opportunities for our OFWs,” the recruiters said.

Foreign employers

MIGR ANT stakeholders rejected the proposal of recruiters to allow foreign employers to make changes in the employment contract of OFWs, which could include their transfer to other employers.

“We have numerous experiences of our migrant domestic workers who were being sent from one employer to another and, in some cases, even being sold by their previous employers,” Center for Migrant Advocacy Executive Director Ellene Sana said in an online forum on July 24.

“Our point here is [the government] should not allow proposals [that] we think will be subject to abuse,” Sana added.

Erwin Puhawan, a paralegal officer with Kanlungan Centre Foundation Inc., agreed with Sana in raising concern over the risk of any changes in the employment con-

tract of already-deployed OFWs. Puhawan noted that the act, “which is currently illegal and called ‘contract substitution,’” is already the most common recruitment violation prior to the pandemic.

“If we will give the recruitment agencies and foreign employers this kind of power, this will be greatly abused,” Puhawan said.

Both Sana and Puhawan are included in the joint position paper submitted by nine migrant advocates and labor groups to the POEA in response to the letter sent by Clads and the recruiters.

Worker’s burden

IN their joint position paper, the migrant advocates also opposed the proposal of the recruitment industry that OFWs not be paid during quarantine.

They said this violates the provision of the UN “Global Compact for Safe, Orderly and Regular Migration,” which prohibits “recruiters and employers from charging or shifting recruitment fees or related costs to migrant workers.”

“It is hard to believe that employers, who consciously decide to hire migrant workers, have not anticipated such additional costs.

Further, if the employers are not to shoulder the cost of quarantine, it will fall on the workers themselves,” the migrant advocates said.

They said POEA’s approval of the suggestion of the recruitment industry will place an additional burden for OFWs since quarantine has become a mandatory requirement in the ongoing Covid pandemic.

Advocates said that instead of the additional burden, OFWs should even be given additional protection through their employment contracts, which should now guarantee they will have safe workplaces and accommodations once deployed.

They said the new employment contract should also ensure an OFW will be provided treatment and still be paid salaries if they get infected with Covid-19.

Studying proposals

OLALIA said the proposal submitted by the recruitment industry and the migrant advocates are currently being studied by a technical working group (TWG) created by the POEA. Olalia told BusinessMirror this TWG “is now consolidating the inputs if all the sectors and recommendation will be made to come out with a policy.”

He said they will focus on the legal issues raised by both parties.

As of Wednesday, the POEA chief said the TWG has yet to come out with its recommendation on the new employment contract on labor standards for OFWs during the pandemic.

He noted the policy proposal will be implemented either through issuance from DOLE or the POEA.

Right time

CAMPOS said now would be a good time for Congress to pass the bills “that we have introduced to assure Filipino migrant workers

and their families here superior protection and a higher standard of living and to enable the country to take full advantage of the economic benefits of their cash remittances.”

He said he already filed House Bill (HB) 1433 further amending RA 8042 or the Migrant Workers and Overseas Act, as amended by RA 10022.

Campos said he filed the bill to strengthen the standard of protection of the welfare of migrant workers by criminalizing the practice of “decking.”

T he l aw ma ker sa id “ dec king” is a practice that requires overseas Filipino workers to go first to an office for registration for their pre-employment medical examination and then being farmed out to a selected c linic located elsewhere; “an invention of unscrupulous and greedy elements.”

“It is a lucrative practice as the OFW has to pay the registrar or ‘decker’ an amount more than double the fee charged by a medical clinic,” Campos said. “ This practice has directly contributed to the establishment of monopolies in the medical examination of OFWs, in the process increasing pre-employment cost shouldered by the employers and workers,” Campos added. “This practice also violated the guaranteed rights of workers to choose from among government-accredited medical clinics.”

The bill defines and criminalizes the practice of decking. It also clarifies that those who imposed, established, managed and participated in decking are committing illegal recruitment and these acts would be meted with appropriate penalties and sanctions.

Initiatives

MOREOVER, Campos said he is also pushing for several bills protecting the country’s migrant workers.

These bills include HB 1439, creating the Department of Migration and Development (DMD), also known as the Department of OFWs, which no less than President Duterte asked Congress, during his 2019 State of the Nation Address, to pass.

Ot her bi l ls f i led inc lude the following: HB 1435 (“Enhancing On-site Protection for OFWs”) by establishing a registration and monitoring system in all Philippine foreign posts; HB 1429 (“Creating the OFW Bank ”); and, HB 1440 (“Providing Incentives for OFWs and Filipinos Residing Overseas to Invest and Establish Businesses in the Philippines”).

“The new DMD is particularly important to enable the government to concentrate on providing highly improved ser v ices to Filipino migrant workers,” Campos said.

Going digital

ACCORDING to Campos, they have seen how the DOLE, between April to June this year, “was overwhelmed by simultaneous appeals for help from distressed Filipino workers here at home and abroad, leaving many

of those overseas neglected and abandoned.”

Campos said the DFA was also hard put scrambling sweeper flights just to bring home stranded Filipino migrant workers.

“As to the proposed OFW bank, we envision it providing low-cost remittance services and small business loans to Filipino migrant workers and/or their families here,” he said.

“We also want the bank to provide every departing Filipino migrant worker with a free international debit card and free access to Internet banking facilities,” Campos added.

The lawmaker said that through debit cards and access to online banking, Filipino migrant workers would be able to receive emergency cash assistance from the Philippine government and transfer money to mobile phones or virtual wallets.

Besides, he said, the physical distribution of cash assistance by Philippine Overseas Labor Offices “is difficult and prone to delays and/or corruption.”

“Between April to June, tens of thousands of Filipino migrant workers were marooned around the world with little or no access to Philippine government support,” Campos said.

“We even had cases wherein Filipino workers on international cruise ships were unable to send money to their families here at home for two or three months,” he added.

Due to severe travel restrictions, Campos said their vessels were barred from docking at any port. They could not disembark and send money, “yet, they had internet access on their ships while they were isolated.”

House bills

HOUSE Committee on L abor and Employment Chairman Eric Pineda of 1-Pacman partylist said the government is doing the best it can for the OFWs given the pandemic.

The “DOLE already ran out of funds. We are doing all we can to ensure that DOLE is well funded so that the department may be able to address the problems faced by our modern heroes,” Pineda said. The lawmaker cited the P1.3-trillion “Accelerated Recovery and Investments Stimulus for the Economy” bill, which provides aid. He also cited the P1.5- trillion “Covid-19 Unemployment Reduction Economic Stimulus” bill, which proposes job creation to address the unemployment problems caused after the lockdowns.

According to Pineda, the government is continuously implementing the provisions of the Migrant Workers and Overseas Act to protect all Filipinos aboard. “ The provisions of the law have not been suspended. The government is just implementing measures to protect the health of its citizens by imposing travel restrictions. Many government offices have been operating on a skeletal work force, making it difficult to address all problems in a timely manner, as we also need to consider the health of government workers,” he said.

Pineda said the Lower House has passed the bill creating the Department of Filipinos Overseas and Foreign Employment. He believes the creation of the department will streamline procedures for assistance to OFWs. He said he has also filed a bill to amend RA 10022 to mandate every OFW to be insured “as the current law only requires first-time OFWs to be insured.”

Pineda added the bill proposes that even the “ ba lik-manggagawa” [retur ning OFWs] w ill be covered by insurance, which w il l address ex penses brought about by unforeseen events, including pandemics.

Transportation costs

MEANWHILE, Marino partylist Reps. Sandro Gonzalez and Macnell Lusotan are pushing for the passage of a bill extending government assistance to repatriated OFWs affected by the imposition of community quarantines and lockdowns by labor-hosting countries.

The lawmakers have filed HB 6778 to provide for the “domestic repatriation” of migrant workers who want to go to their hometowns to find jobs.

The lawmakers said that after the worker has been repatriated to the Philippines, the amended R A 8042 and the POEA Rules on Overseas Employment of OFWs are silent about the transport of the worker and his personal belongings back to his hometown, “despite the fact that a large number of OF Ws come f rom provinces.”

“We must consider that in cases of repatriation, the OFW was not able to finish his contract and that most likely he has no savings to use to cover the costs of his transportation back to his family, thereby adding more suffering to his already miserable state,” the bill said.

Under the bill, the repatriation of the worker and the transport of his personal belongings to his hometown shall be the primary responsibility of the agency which recruited or deployed the worker overseas. All costs attendant to repatriation shall be borne by or charged to the agency concerned and/or its principal.

Starts, re-start

CAMPOS said he believes that lingering global air travel restrictions are bound to temporarily discourage large-scale labor migration.

“It remains unclear when foreign labor markets will recover.

This all depends on how the pandemic will take its course, and how quickly industries will find ways to keep on running,” he said.

In any case, Campos said the world has become a “global village” and countries around the world have become interdependent on each other not just for raw materials and finished goods, but also for human resources and/or labor supply.

“Thus, once the global economy starts to pull through, industries abroad should start hiring foreign workers again, including Filipinos,” he said.

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Valenzuela answers education’s new normal with “Valenzuela Live Online Streaming School”

The Valenzuela Live Online Streaming School is Valenzuela City's new platform and an answer to education's new normal as the Philippines now adapts to a distance learning modality to keep learning and education "going". (Kevin Gatchalian/VC PIO)

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RINGING the “classroom feels” to a whole new level, students can now adapt to the new normal way of learning with Valenzuela Live Online Streaming School – Valenzuela City’s newest platform for education’s distance learning modality to manage the risks brought by the coronavirus disease (COVID-19) pandemic.

This school year marks another hopeful year for every Batang Valenzuelano as they embark on a new lifestyle on meeting their teachers, accessing their lessons and listening to discussions outside the traditional classroom set up.

The City Government of Valenzuela and the Department of Education (DepEd) Valenzuela heeds the call for a major change in the education arena. The Valenzuela Live Online Streaming School will now roll out this incoming school year 2020-2021 after weeks of live simulations throughout the different public elementary and high school institutions in the City.

Speaking before all public elementary and high school principals as the implementor of the program, Mayor REX Gatchalian shares the “Valenzuela formula,” stating “I think we are the only LGU that gotten as far as trying to come up with an actual package on how we do distance learning. We complemented your [DepEd] learning module with technology...

We simulated it, we have done everything already... Lahat naman iyan template ng [All of

the templates are from] DepEd except we put something unique in the middle which is the Valenzuela formula.”

“The difference here is that we are going to still pretend that there is school through [video] streaming... It is like a real classroom pa rin naman nawala lang doon iyong estudyante kasi nasa bahay sila [Still, it is like a real classroom but the only difference is that the students are not physically around since they are at home],” Mayor REX added.

Understanding that school opening is just around the corner, DepEd Valenzuela readily prepared all the learning packets including modules, work sheets and study guides designed for the most essential learning competencies of students, making this accessible through door-to-door delivery, barangay delivery or parents can pick-up the learning packets at designated schools or 3S Centers. Announcement on the distribution will be announced in the next coming weeks.

According to a study by DepEd Valenzuela, it is estimated that 22,000 students do not have a smartphone out of 130,000 public elementary and high school enrollees for this school year. With this, the City Government of Valenzuela will also lend gadgets to target beneficiaries for them to catch up with the online lessons – the estimated cost of the gadgets amounting to PhP 69 million for the program to roll out.

Instead of parents allotting their budget for

school uniforms and daily “baon” of their kids, the budget will now be prioritized for ensuring a WiFi, mobile data or internet connection is available while students watch the video streaming of lessons through their gadget, with Valenzuela City School of Mathematics and Science (ValMaSci) serving as an offsite classroom.

An I.T. technician and a moderator will also aid the teachers on their discussions.

For students who have questions and queries about a certain lesson, virtual communities for follow-up discussions are also set up and can be accessed using free online platforms like Facebook. For the grades, students will create their own portfolios for assessment of teachers which will still be based on the grading system and policies set by DepEd. As hard as it may seem at first, parents are also adjusting to education’s new normal as they help their children to also learn and catch up with their lessons while securing them at the safety of their homes.

During one of the live simulations of the Valenzuela Live Online Streaming School, a parent from Punturin Elementary School commented that the idea at first is quite difficult along with the challenges on having a stable internet connection at home but upon seeing what the video streaming would be like, it seemed okay for them saying “Sa akin noong una, parang mahirap kung through internet lang talaga kasi unang unang iniisip ko yung sa connection... Pero noong nakita ko, okay naman sa akin [For me at first it seemed difficult if it will be through the internet only and I was also concerned of our connection… But when I saw it I thought it was okay.]”

Ensuring that education continues, the City Government of Valenzuela, DepEd Valenzuela and all parents are in unison to its objective to give the best for every Batang Valenzuelano – with education within reach beyond the limits of the four corners of the classroom with Valenzuela Live Online Streaming School.

Online live simulation between students, parents and teachers can be seen at https://drive.google. com/drive/folders/1vkk-HEk9MDA-Rzvg63tWfxa3m4ne48J?usp=sharing See the preview of the Valenzuela Live at https://www.youtube.com/watch?v=IN_ jA04k9f8&t=92s

Lark disrupts traditional email with new product offering, Lark Mail

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ARK, a next-generation digital collaboration suite, has launched its latest product offering, Lark Mail, which redefines the email experience for enterprises in the Philippines. Breaking down the barrier of information silos by providing more transparent and collaborative communications, Lark Mail will now be seamlessly integrated with Lark’s suite of collaboration tools including Messenger, Video Calling, Docs and Sheets, Cloud Storage, and Calendar.

As one of the most important business tools, email continues to be a siloed form of communication that keeps information away from teams who primarily communicate using digital collaboration platforms. Lark Mail has finally connected email to the other essential tools used in today’s workplace, allowing users to: Email a Chat Group: In the recipients field, users can input the names of not just individual colleagues, but also chat groups to send team emails to.

Keep Email Organized with Smart Inbox: Lark Mail automatically surfaces "Priority" emails first so users can see what's important at a glance.

Provide Quick Permissions: When sending a Lark Doc in an email, users can see clearly whether the recipients have access to it or not, and give them the permission to read or edit the Lark Doc with one click.

Out of Office Reply: Create a personalized out of office reply to automatically respond to emails you receive when on a business trip or leave.

Gmail Integration: Instead of logging into Gmail each day, users can link their Gmail accounts to Lark to enjoy seamless integration between email, messenger and drive.

“Email remains a core component to the workflow of many organizations, but its separation from other collaborative tools such as messenger creates bottlenecks in productivity and makes it hard to stay on the same page," said Joey Lim, Lark VP of Commercial, Asia. "We strongly believe Lark Mail's integration of email with Messenger, Video Calling, Docs, Cloud Storage and Calendar will break

down these barriers and transform the way email is used within our customers' organizations.”

Generated, In addition to Lark Mail, the company also recently introduced a new feature called Magic Share, which allows participants to edit content within the video call window, and view content being presented at their own pace. Magic Share eliminates the need to have multiple tabs open when working with colleagues on a collaborative document during a video call, and means users no longer have to worry about keeping up with a presenter that goes too fast or too slow. Once a document is shared, teammates can view it at their own pace and co-edit directly from within the video call window, effectively breaking down the wall between visual and written communication. Latecomers to a meeting can now scroll up to see material previously presented without interrupting the flow of the presenter, while presenters no longer have to worry about issues common to traditional screen sharing such as clients or internal stakeholders seeing inappropriate tabs on their computer or irritating notifications.

Lark Mail, along with the rest of Lark’s suite of collaboration tools consisting of 200GB cloud storage, 500GB email storage and unlimited video call minutes, are available free for businesses in the Philippines. Simply visit www.larksuite. com to switch over to Lark Mail from any email services.

Gushcloud shares how Covid-19 changed influencer marketing in sea

Access to world-class learning made possible through 88Tuition, Security Bank partnership

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INGAPORE based e-learning platform 88Tuition’s partnership with Security Bank has led to an increase of users of the platform, especially in the Philippines. From March 30 to June 30, a total of 2,615 parents started using 88tuition’s e-learning platform, wherein 69% of children enrolled accessed primary level topics while 22% accessed the secondary level.

Users were given free access to 88Tuition’s comprehensive library of educational materials and online classes created by some of the best teachers in Singapore. The online lessons were designed to simulate a normal class routine and provided homework that parents could access as well.

“I have been using 88tuition for a while now. So far I think it is a good learning platform,” said Jericho Apostol, a student from Colegio San Agustin. “It is a fun way to learn new things. And the teachers share much easier and faster ways to learn.”

Jillian Loriega, a third grader from School of The Holy Spirit of Quezon City, said, “I had a nice experience using the application. It is good because after answering the questions, there is an explanation if your answer is right or wrong. It also has video lessons which helps students understand better. Plus, I find it useful as it provides various worksheets that enhance my problem-solving skills.”

86% of the users watched 50 videos at the most, while the remaining 14% watched more than 50 videos ranging from different subjects like Mathematics, Science, English, and Chinese language education. Some parents watched over 400 videos and were satisfied with the effectiveness of the learning platform.

A parent of Jaden San Pedro, a first

T grader from Right Start Child Learning & Development Center, remarked, “The platform was very helpful. The overall experience was excellent since it gave way for my son to continue learning even if he is on summer break. It helped him learn to manage time daily to finish his lessons.”

The e-learning platform reported a total of 1,000 assessments over the course of the free access period.

Security Bank has been a longtime advocate of promoting quality basic education. Prior to the pandemic, the bank has been actively funding and building public school classrooms. It has also been helping improve teaching and learning standards by conducting training and development programs for teachers. Since the lockdown, it has shifted its initiatives to online learning in order to adapt in the new normal.

“Our partnership with 88Tuition over the last few months shows our commitment to help ease the disruption of classes for children in primary and secondary levels. As part of our

advocacy, we will continue to look for effective avenues to provide quality education, especially during these difficult times,” says Security Bank President and CEO Sanjiv Vohra.

The partnership of Security Bank and 88Tuition ran for three months from March to June 2020. Seeing the success of the partnership and its impact towards families, Security Bank is launching an exclusive pricing offer with 88Tuition for Security Bank Credit and Debit cardholders. To know more about this exclusive you may visit Security Bank’s facebook page at facebook. com/securitybank or www.securitybank.com/ promos/services/88tuition/ Security Bank is one with the nation in providing e-learning access to Filipinos through partnerships with 88Tuition, Edukasyon.ph and Knowledge Channel. The bank is with every Filipino in overcoming the pandemic and believes that together, we can get better. To know more about its responses to COVID-19 you may visit Securitybank. com/Get-better

HE global health crisis brought by COVID-19 has definitely impacted the economy, causing businesses to pivot their strategies to cope and adapt to the new normal. Companies are reevaluating their marketing plans, pushing the boundaries of digital including that of influencer marketing to continuously reach out to and engage with their target audience.

Gushcloud International, a global digital talent and marketing group, has released a whitepaper detailing the effects of the COVID-19 pandemic on influencer marketing in Southeast Asia. Titled “The New Normal: How COVID-19 has Changed the Fundamentals of Influencer Marketing in Southeast Asia,” the whitepaper is available for public access on the Gushcloud website.

The report explores how COVID-19 has prompted businesses to immediately offer consumers various means for online purchase, pushing brands and influencers to get on board live commerce and social commerce as new revenue opportunities.

In terms of content output, adoption of new formats and platforms such as TikTok, Twitch, and Instagram Live are expected to

stay for the long term, so these must also be optimized for branded content releases.

The whitepaper features insights from industry professionals from around the region, and was written with the guidance of Dr. Crystal Abidin, an anthropologist and ethnographer who researches influencer cultures, especially young people's relationships with internet celebrity, online visibility, and social media pop culture.

“2020 has definitely caught everyone by surprise, and the COVID-19 outbreak currently takes the top spot. With consumers slowly adapting to the new normal, brands must continue to offer greater value to them not just in terms of product benefit but also social content as more and more people look to digital creators as a source of information, entertainment, and social connection,” shared Isha Fermin, Country Director of Gushcloud Philippines.

For more information on Gushcloud’s COVID-19 whitepaper, “The New Normal: How COVID-19 has Changed the Fundamentals of Influencer Marketing in Southeast Asia”, visit the website at https:// www.gushcloud.com/covid19whitepaper.

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Thursday, August 6, 2020

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