BusinessMirror December 07, 2020

w

Monday, December 7, 2020 Vol. 16 No. 60

n

D.O.F.: FOOD TRAFFIC KEY P25.00 nationwide | 2 sections 20 pages |

TO INFLATION TARGETS

P206-B GOCC 10-MO SUBSIDIES BREACH TOTAL FOR 2019

By Tyrone Jasper C. Piad

S

@Tyronepiad

UBSIDIES given by the national government to state-run firms for January to October have already surpassed the amount disbursed for the entire 2019.

According to latest data from the Bureau of the Treasury (BTr), government-owned and -controlled corporations (GOCCs) received a total of P205.917 billion in the first 10 months, higher than the subsidies extended last year amounting to P201.524 billion.

The 10-month subsidies to state-run firms are also 25.32

percent more than P164.307 billion given last year for the same period.

For October alone, however, subsidies dropped by 12.8 percent to P6.311 billion from P7.238 billion in the same month a year ago.

Majority or 53.64 percent of the subsidies was given to major nonfinancial government corporations at P110.445 billion in January to October. Subsidies extended to other government corporations reached P95.009 billion or 46.14 percent of the total. The balance, P463 million, was for government financial institutions.

Continued on A4

Joyful treats are on offer at Times Square Food Park at the Araneta Center complex in Quezon City. Good food and a giant Christmas tree await the family that wanted to share the holiday spirit with loved ones. BERNARD TESTA

D

By Tyrone Jasper C. Piad @Tyronepiad & Cai U. Ordinario @caiordinario

ESPITE consumer price growth hitting a 19-month high in November, economists see inflation remaining within the government target band of 2.0-4.0 percent this year.

Continued on A2

PESO exchange rates n US 48.0460

DOLE: More alien workers getting work permits now

By Samuel P. Medenilla

T

@sam_medenilla

he number of foreign nationals (FN) who secured an Alien Employment Permit (AEP) has started to pick up in the third quarter as more establishments in the Philippine Offshore

Gaming Operators (POGO) sector resumed their operations.

In its latest AEP report obtained by the BusinessMirror, the Department of Labor and Employment (DOLE) said it was able to release 14,959 AEPs from July to September.

Continued on A4

The ALC Group of Companies, through its Central Human Resources Division (CHRD), turned over in-kind donations for the victims of recent typhoons to Caritas Manila on Saturday. Malu Santos (center), ALC Group CHRD Officer, hands over a bag of donations to Marilyn Fernandez (right) of the Donor Development Stewardship Division of Caritas Manila during the turnover at the Caritas Manila Office in Pandacan, Manila. Also with them is John Paul Estrella, Recruitment and Research Staff of the ALC Group CHRD. The ALC Group was founded by Ambassador Antonio L. Cabangon Chua, and is currently headed by its chairman, D. Edgard A. Cabangon. ROY DOMINGO

n japan 0.4627 n UK 64.6507 n HK 6.1988 n CHINA 7.3445 n singapore 36.0219 n australia 35.7366 n EU 58.3471 n SAUDI arabia 12.8095

Source: BSP (December 4, 2020)

News

BusinessMirror

A2 Monday, December 7, 2020

TPB tapping emergency fund for Covid test subsidy

By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

T

HE Tourism Promotions Board (TPB), the marketing arm of the Department of Tourism (DOT), will tap an emergency fund to subsidize the cost of RT-PCR tests of domestic tourists.

TPB Chief Operating Officer Ma. Anthonette C. Velasco-Allones disclosed to the BusinessMirror: “We are allotting P10 million initially from the SCF [Special Contingency Fund] this year” for the RT-PCR tests administered at the Philippine General Hospital [PGH].

Under Republic Act 9593 (Tourism Act of 2009), 10 percent of the al-

location for TPB’s promotions and marketing is set aside as a special contingency fund to be tapped in case of crises.

While guidelines on the subsidy still have to be finalized with PGH, Velasco-Allones also clarified that the subsidized tests are “actually open to all the multiverse,” and not just for tourists going to Boracay Island. At present, the RT-PCR test at PGH costs P1,800; TPB will subsidize half of the cost or P900 per person.

Thus, the P10-million allocation will be able to cover just 11,111 domestic tourists. RT-PCR tests at other medical facilities cost around P4,000 to P6,500 per kit.

Continued on A4

Fake news: Palace, NTF advise people to ignore ‘lockdown’ SMS

By Samuel P. Medenilla

T

@sam_medenilla

HERE will be no scheduled nationwide lockdown this month to contain the spread of the novel coronavirus disease (Covid-19).

Malacañang and the National Task Force (NTF) Against Covid-19 (novel coronavirus disease) issued the clarification amid circulating SMS, which claim the government will be implementing a lockdown from December 23, 2020 to January 3, 2020.

No less than Presidential spokesperson Harry Roque and Cabinet Secretary Karlo Nograles called the said SMS “fake news.”

NTF spokesperson Restituto Padilla Jr. also belied the message and urged the public to only

believe official sources. “Please ensure you verify or ask authorities or trusted organizations about the veracity of such information before believing and passing it around,” Padilla said.

“Let us not be instruments of fake news distribution and help out fellow kababayans,” he added.

Officials of the Department of Health (DOH) and the NTF earlier announced they are anticipating a post-holiday surge in Covid-19 cases as people celebrate the Christmas holidays.

However, aside from banning large scale Christmas parties and caroling as well as reminding people to strictly follow health protocols, the government has not imposed any movement restriction during the Christmas holidays.

www.businessmirror.com.ph

In nod to climate, Asean central banks to boost green financing

R

By Bianca Cuaresma

@BcuaresmaBM

EGIONAL central banks are looking to help address climate change through green financing, incentives and supervisory authority.

In a report released over the weekend, Asean central banks (ACBs)—which include the Bangko Sentral ng Pilipinas (BSP)—are eyeing more involvement and understanding of how central banks can advance the fight against one of the largest threats to economic and financial stability in the region in the coming years.

“As an area of common concern, governors of the Association of Southeast Asian Nations [Asean] central banks and monetary authorities unanimously concurred that the region should come to-

gether to better understand what climate and environment-related risks mean for the region and translate this understanding into actions that can be taken up individually and collectively,” the report read.

“Central banks should be in a state of readiness to manage the risks stemming from climate change and environment-related events more proactively to ensure Asean continues to grow and prosper in a sustainable manner, into the far future and for the generations to come,” it added.

The report is a collaborative

effort among the Asean central banks and monetary authorities, namely, Autoriti Monetari Brunei Darussalam (AMBD), National Bank of Cambodia (NBC), Bank Indonesia (BI), Bank of the Lao PDR (BOL), Bank Negara Malaysia (BNM), Monetary Authority of Singapore (MAS), Bank of Thailand (BOT), Bangko Sentral ng Pilipinas (BSP) and State Bank of Vietnam (SBV).

The report cited a 2019 study of an unmitigated climate-change scenario where all Asean countries are expected to incur severe dents to their GDP [gross domestic product] per capita in 2100, with effects of losses ranging from 0.7 to 8.5 percent. Indonesia and the Philippines are expected to incur the highest losses, beyond the global estimates.

As such, ACBs are looking for ways to nip these losses in the bud and create an environment friendly to green investments.

Among the report’s top recommendations for the region’s central

banks include urging central banks to take the lead in working with other domestic government agencies to grow the supply of green or sustainable finance.

Central banks should also consider providing incentives to financial institutions where appropriate and should integrate climate- and environment-related risks in the supervisory assessment framework of banks under their watch, the report said.

Before the pandemic, BSP Governor Benjamin Diokno had his eyes set on paying more attention to disaster- and climate-related incidents in conducting monetary policy in the country.

The BSP is known to extend regulatory relief packages to banks and non-banks in areas affected by typhoons, earthquakes and war to assist in their recovery and allow them to resume normal operations. The BSP has invested $150 million in the green bond fund launched by the Bank for International Settlements.

D.O.F.: FOOD TRAFFIC KEY TO INFLATION TARGETS Continued from A1

However, the Department of Finance (DOF) said more needs to be done to keep the country’s inflation rate within the government’s target range, especially in strategically deal-

ing with the traffic of food supplies.

The Philippine Statistics Authority (PSA) reported last week that inflation reached 3.3 percent in November, which is the highest since March 2019, mainly because of increases in food prices.

“Looking ahead, inflation may stay within the 2-4 percent target of the BSP [Bangko Sentral ng Pilipinas] by the end of the year, but upside risks to overall prices may keep inflation above the policy rate,” Bank of the Philippine Islands (BPI) Lead Economist Emilio Neri Jr. said.

Neri said the food prices surged as the African Swine Flu posed challenges to pork supply and the onslaught of typhoons adversely impacted the vegetable prices, among others. “[T]he contribution of food items to headline inflation roughly doubled compared to the previous month,” the BPI economist explained. “Food inflation may continue to face upward pressure in the coming months as the domestic pork shortfall may increase further by yearend due to the seasonally high demand for meat during Christmas season.”

He added that transport costs remained high because of rising oil prices for the period.

In November, Neri noted that global oil prices peaked at $45.8 per barrel from $41.4 per barrel in the previous month based on the West Texas Intermediate (WTI) benchmark. The economist warned that WTI oil may reach $50 per barrel in the first quarter of 2021 should oil prices continue to rise at the same rate, fueling more pressure to inf lation.

So far, Neri said the Philippines has the highest inflation among Association of Southeast Asian Nation (Asean) neighbors. Indonesia, Thailand, Vietnam and Malaysia registered 1.59 percent, -0.50 percent, 1.48 percent and -1.50 percent, respectively.

Rizal Commercial Banking Corp.

(RCBC) Chief Economist Michael L. Ricafort, meanwhile, said the November inflation spike was only temporary amid the damage brought about by the typhoons.

He believes the average inflation this year could still land around 2.5 percent to 2.6 percent.

“For the coming months, inflation would remain relatively benign at slightly above 2 percent or even slightly below 2 percent from December 2020 to February 2021 largely due to higher base/denominator effects,” he added.

Slower economic recovery due to lockdown measures amid the coronavirus can lead to relatively lower demand conditions, which can help in tempering inflationary pressure

moving forward, Ricafort said.

Impact on monetary policy

With record low policy rate and higher inflation, real interest rates plunged further to negative territory. Ricafort said this would make further cuts in policy rates “more challenging.”

The overnight reverse repurchase facility is currently at 2 percent after a 200-basis point cut in total. Interest rates on overnight deposit and lending facilities, meanwhile, stand at 1.5 percent and 2.5 percent, respectively.

Still, Ricafort said that with the inflation expected to be relatively benign in the coming months, BSP may still trim the reserve requirement ratio (RRR) of the big banks to inject additional liquidity into the financial system. He said this can help reduce borrowing and financing costs.

The RRR of big banks is currently at 12 percent.

“While the inflation path looks favorable in December onwards, flood, swine flu and oil-related risks remain elevated and can keep us at negative real yields for the policy rate,” Neri warned.

“Should this happen, we might see a scenario where the BSP is compelled to hike rates at a time the economy continues to see weak GDP [gross domestic product] performance,” he added. The Central Bank is set to have its last monetary policy meeting this year on December 17.

More must be done–DOF

The Department of Finance (DOF) said more needs to be done to keep the country’s inflation rate within the government’s 2 to 4 percent target.

In an economic bulletin, DOF said that while the inflation rate was still within the government’s inflation target, efforts to facilitate particularly the flow of food items must be improved.

“The inflation rate is still within the 2-4 percent inflation target range.

However, to ensure prompt price normalization, the DA (Department of Agriculture) and DOTr (Department of Transportation) may need to facilitate movement of food supplies from imports and food-surplus regions,” DOF said.

The DOF noted that average food prices increased by 4.49 percent, up from 2.13 percent In October. The increase in the price of some food commodities such as fish and vegetables, were due to the series of typhoons that swept the country.

PSA data showed the increase was driven by the uptick in the price of meat of 8.15 percent; fish, 5.32 percent; and vegetables, 14.6 percent.

However, the increase in the price of fuels and utilities contracted at 2.54 percent while rice prices saw a contraction of 0.15 percent. “(These) helped dampen the increase in prices of meat, fish, and vegetables and the double-digit increase in the price of transport services at 16.29 percent,” DOF said.

Ibon’s take

Meanwhile, Ibon Foundation Inc. noted that the high inflation in Metro Manila and among the poorest 30 percent of the population, the purchasing power of Filipinos suffered.

Inflation in Metro Manila was at 3.5 percent mainly due to higher Food and Non-alcoholic Beverage prices which increased 6.2 percent in November 2020 from 2.6 percent in October 2020.

Rice was one of the food items that saw a rapid increase in price in Metro Manila at 3.9 percent in November 2020 from 1.9 in October 2020.

In a statement, Ibon said the price of tilapia is now P130 per kilo from P120; galunggong, P260 from P220; and liempo, P350 from P220 per kilo.

Further, Ibon said the price of vegetables such as carrots increased to P120 from P80 per kilo; onions, P280 from P150; and eggplants, P160 from P100 per kilo.

“The NCR minimum wage is unchanged at P537. Inflation eroded its purchasing power and it’s now worth P525 or P12 less than last year,” Ibon Foundation said.

On Friday, the National Economic and Development Authority (Neda) said the restrictions on public transport as a result of Covid-19, persistence of African Swine Fever, and damage and losses in high-value crops following several typhoons and flooding in November 2020 had been a factor in the latest data.

Acting Socioeconomic Planning Secretary Karl Kendrick T. Chua said there is a need to revisit public transport system guidelines and for LGUs and the Land Transportation Franchising and Regulatory Board (LTFRB).

This will require monitoring and reviewing prevailing and unwarranted fare increases in public transport amid efforts to gradually reopen the economy and allow more public transport, while still reinforcing the “seven commandments” of safe public transportation.

The 7 commandments are wearing of face mask and face shield; no talking while in transit; no eating in public transport facilities; sufficient ventilation; frequent disinfection; preventing symptomatic passengers from using mass transport; and maintaining physical distancing.

News BusinessMirror

www.businessmirror.com.ph

Editor: Vittorio V. Vitug • Monday, December 7, 2020 A3

Reward now at ₧3.2M for failed ‘assassination’ try

A

By Ashley Manabat | Correspondent

NGELES CITY—The scion of a landed gentry in Pampanga has announced the increase of the reward money for information leading to the arrest of the suspect and the mastermind in the alleged sniper attack on him last February 29.

Forty-year-old Jeffrey S. Dizon announced an increase of P200,000 in the reward money, which now totals to P3.2 million, for the arrest of the suspected sniper and mastermind on the attack against him.

Dizon clarified that “the reward money will be given to anyone who can give and provide the name or identity of the sniper and/or gunman and his accomplice and the masterminds provided that the gunman or sniper or accomplice should all be alive or living and not dead and which will lead to their prosecution and conviction.”

Dizon said he increased the reward money upon the advice of his lawyer after the recent confluence of events. These events he said include the alleged “casing” that happened sometime in April 2020 where he and his daughter were followed at popular mall here. Another is the most recent incident on November 7 where he said he observed a couple taking photos and videos of him while inside a restaurant.

Dizon, the eldest son of the late Tomas D. Dizon, is a real estate developer based in Pampanga where he claimed that he and his family were being followed on several occasions by unidentified persons.

To decongest Metropolis, NG eyes Balik-Probinsya 2

By Cai U. Ordinario

@caiordinario

T

HE national government is keen on reviving Balik Probinsya, Bagong Pag-Asa (BP2) as one of the primary strategies to decongest Metro Manila, according to the National Housing Authority (NHA).

In a briefing over the weekend, NHA General Manager Marcelino P. Escalada Jr. said reviving the BP2 will depend on the “go signal” of the Inter-Agency Task Force on Covid-19.

Escalada said he is currently negotiating with Senator Christopher Lawrence T. Go and Executive Secretary Salvador C. Medialdea to ease the restrictions that will allow the BP2 to restart.

“Medyo may apprehension pa ang level ng [BP2] committee up until there is no clear go signal for the Inter-Agency Task Force na talagang iyong mga LGUs natin are ready to accept, kasi medyo mahirapan tayo, [The BP2 Council is apprehensive to restart the program if the IATF has not received a clear go signal from the accepting LGUs. Without this, we may encounter problems],” Escalada explained However, Escalada assured that at least five provinces have signified their willingness to accept long-time residents of Metro Manila who want to return to their province.

Escalada said these provinces are Leyte, Camarines Sur, Zamboanga del Norte, Lanao del Norte and Isabela. He said these provinces have already submitted key result areas where their provinces aim to work on to ensure that the returning residents won’t go back to Metro Manila.

Escalada said the government is also preparing Kauswagan in Lanao del Norte to accept Metro Manila residents. Part of this effort is the building of 100 housing units that could be completed by mid-2021.

He said these areas are the empowerment of local industries; food security and agricultural productivity; social welfare, health, and employment; and infrastructure development.

“We will not impose developments on these provinces, but they themselves will identify what they want to happen to their province, provided that everything is in place, they should be ready to accept their own constituents in time,” Escalada said.

While the government initially suspended the deployment for BP2, Escalada said the assessment for the program continued. This meant that 120,000 Metro Manila residents have signified their intention to go back to the province.

Escalada added that the national government has also approved a P1 billion fund for the BP2 to transport passengers. But before transporting them, all BP2 passengers will undergo swab tests.

The swab tests will be done at the BP2 depot in Quezon City, inside the NHA compound. The passengers will have to wait for 12 hours for the results.

Escalada said in the first hour after a negative swab result will be obtained, the BP2 passenger will be allowed to leave for the province.

Urbanization, internal migration

UNMANAGED urbanization and internal migration lead to wide inequality in cities, according to the Commission on Population and Development (Popcom).

Popcom Deputy Executive Director Lolito R. Tacardon said unmanaged urbanization could lead to socioeconomic disparities and inequality such as the depletion of resources and poverty.

Tacardon added that this would also cause environmental problems, congestion, crimes, and squatting or informal settlements.

Based on the latest data, Tacardon said the average population growth in urban areas is at 4.1 percent annually.

Nationwide, more than half of the population or 52 million Filipinos were living in urban areas as of 2015. Around 7,437 barangays were considered urban.

Metro Manila is 100 percent urbanized while Calabarzon and Davao were 66.4 percent and 63.5 percent urbanized, respectively.

Tacardon said data also showed Central Luzon was 61.6 percent urbanized while Soccsksargen is 51.6 percent urbanized.

Cities that were considered entirely urban are Metro Manila; Cabuyao City and Sta. Rosa in Laguna; Antipolo City in Rizal; and Marilao, Bulacan.

This has prompted Dizon to consult with his lawyers and security advisors. They recommend to increase the reward money from P3 million to P3.2 million, he said. Dizon said the move aims to persuade and encourage witnesses or those involved or who have any knowledge in the failed assassination on his life last February 29 inside his family’s compound in this city.

The family compound is approximately 15 hectares surrounded by a perimeter fence and secured by

security guards where there are only two residential houses. One belongs to Jeffrey Dizon while the other to his siblings, City of San Fernando Councilor Celestino S. Dizon, Lea Dizon-Angeles, Erwin S. Dizon and their mother Ludivina S. Dizon.

Last month, Dizon met with Central Luzon Police Director and Brig. Gen. Valeriano T. De Leon and sought his assistance and protection because of the recent events. Dizon said De Leon assured his and his family’s safety.

Three police blotters have been filed since the sniper attack—on February 29, 2020, for the failed assassination attempt, in April 2020 where he was allegedly followed; and, on November 7.

Dizon is a shareholder and director together with his siblings in a family corporation connected with several real estate projects in Pampanga and Angeles City.

Dizon stated that the only possible dispute he has right now concerns a business matter involving the family corporation.

A4

Monday, December 7, 2020

The World BusinessMirror

US vaccines may start Friday as coronavirus fatalities rise

V

accinations in the US could begin as early as Friday, with the Food and Drug Administration set to vote on emergency-use authorization for the Pfizer Inc./ BioNtech SE shot the day before, an FDA adviser told NBC News.

“If the FDA Commissioner decides to issue approval, the Emergency Use Authorization, on that day when the vote is taken, as early as Friday of next week we could see vaccinations happening across the country,” James Hildreth said on NBC’s “Weekend Today.”

As states put in their orders for vaccines—and began deciding who will get them first—fatalities across the US are rising sharply.

US deaths are up on average of 34% this week versus last week, or about 500 more per day. The nation reported 2,637 fatalities on Friday, the fourth day this week above 2,500, according to data compiled

by Johns Hopkins University and Bloomberg. Friday’s fatalities were below Thursday’s record of 2,867.

Compared to a month ago, total deaths have risen 134%. The Midwest, which was hit first in the now nationwide surge, and the South are leading the increases, according to the Covid Tracking Project.

New York state reported 10,761 new cases, its second consecutive day above 10,000 -- at the highest level since the peak of the outbreak in April.

Total hospitalizations rose almost 100 to 4,318. The statewide positive-test rate, which has been rising rapidly, dropped slightly to 5%, though it rose to more than 11% in a hot spot in Westchester County just north of the city. Another 69 people died.

California added a record 25,068 new cases, bringing the total to 1.3 million. It also reported 209 new deaths for a total fatality count of 19,791.

The state has been warning about the surge in cases and the strain on hospital beds, particularly those in intensive-care units. The numbers of ICU beds have fallen by 45 to 1,628, a new low, as hospitalizations increased 3.2% to 10,273.

A wide swath of the San Francisco Bay area has imposed stay-athome rules through Christmas and New Year’s Day, while Los Angeles warned that the number of cases could top 500,000 by the end of the year.

Alabama reported 3,390 new cases, the fifth consecutive day over 3,000, keeping infections at their highest level since the start of the pandemic. The state reported 46 deaths, in a week when fatalities have spiked: The seven-day average this week was 44, compared to 31 week before Thanksgiving. Hospitalizations are at an all-time high on a seven-day average, according to the Covid Tracking Project.

Key developments: France’s drop in new cases stalls

Fr ance’s reported confirmed coronavirus cases increased by 12,923 on Saturday to 2.28 million. The seven-day average of new cases rose by 0.5% to 10,397, climbing for the first time in more than two weeks.

The rate of positive Covid-19 tests remained at 10.7% for a third day, following three weeks of declines.

Hospitalizations and patients in intensive care for Covid-19 continued to fall from their mid-November peak. Deaths linked to the virus increased by 214 to 54,981.

The government started easing some lockdown measures a week ago, allowing non-essential stores to reopen.

Italy’s outbreak continues to ease

Italy reported 21,052 new cases on Saturday, confirming the downward trend from last week. Daily fatalities dropped to 662 from 814 on Friday.

Health Minister Roberto Speranza said on SkyTg24 television on Saturday that strict anti-Covid measures are a necessity to avoid a new uptick in virus cases that would swamp hospitals and cause a further increase in deaths.

Asked about vaccine distribution, he said the timing will depend on the European Medicines Agency and that the Italian government plans to administer the vaccine on a voluntary basis once it’s available.

Germany to spend $7.3 billion on vaccine

Germany will spend as much as 6

“As early as Friday of next week we could see vaccinations happening across the country,” FDA adviser James Hildreth said. Bloomberg news

billion euros ($7.3 billion) on vaccinating its population against the coronavirus.

“That’s a lot of money,” Health Minister Jens Spahn said at a conference in Berlin on Saturday. Still, the cost of “not getting it under control is higher,” he said.

By contrast, the nation will likely spend as much as 20 billion euros on November support for restaurants and cafes, he said. Germany aims to begin mass vaccinations by the summer of next year, Spahn said earlier in an interview with T-Online.

UK opposition leader self-isolates

Kier Starmer, leader of the opposition Labour Party in the UK, has gone into self-isolation after a member of his staff tested positive. Starmer is well and not showing any symptoms of Covid-19, a spokesperson said in an e-mailed statement.

Dutch infection rate worsens

The number of new cases in the Netherlands increased for the second day in a row. There were 6,577 new reported infections on Saturday, up from 5,921 on Friday and 5,634 on Thursday, ANP said.

Measures by the Dutch government had previously lowered the daily number of cases to below 5,000 from 10,000 or more.

Saudi cases ease; Iran tops 50,000 deaths

Saudi Arabia’s health ministry reported 190 new cases, the first daily count below 200 in eight months. Iran’s total Covid-19 fatalities since the start of the pandemic climbed above 50,000, making it the eighth country to breach that number. The nation had 321 deaths overnight, down from 347 a day earlier. The number of daily new infections fell 9% in the last 24 hours to 12,151, bringing total known cases to 1,028,986, the

health ministry reported.

Danish mink virus mutation spreads

There has been a marked increase in the number of Danes infected by a form of the coronavirus with mutations that originated in mink farms, Berlingske reported, citing SSI, the Danish government agency for fighting infectious diseases.

The estimated number of cases is approaching 2,700.

Hungary reports record deaths

Hungary set another daily record for Covid-19 related deaths, as Prime Minister Viktor Orban prepares to announce whether virus curbs will be relaxed for the holiday period.

The nation had 193 daily deaths and 5,525 new infections, its virus task force said in a statement on Saturday. Orban is scheduled to announce on Monday whether some restrictions will be eased for the upcoming holidays, including a curfew and a ban on public gatherings. The prime minister has said that his virus advisers oppose any loosening of curbs put in place almost a month ago.

Singapore Airlines readies vaccination flights

Singapore Airlines will prioritize freight capacity for shipping Covid-19 vaccines and it will soon conduct test flights to trial procedures, the Straits Times reported.

The carrier has seven Boeing Co. 747-400 freighters ready to carry vaccines. Its passenger fleet can also be used to ramp up capacity.

Tokyo posts record 584 new daily cases

Tokyo reported a daily record of 584 new Covid-19 infections on Saturday, bringing an accumulative total of reported cases to 43,377 in the capital, with 55 serious cases.

Bloomberg News

Colorado student and scientist named Time’s ‘Kid of the Year’

L

ONE TREE, Colorado—A 15-year-old Colorado high school student and young scientist who has used artificial intelligence and created apps to tackle contaminated drinking water, cyber bullying, opioid addiction and other social problems has been named Time Magazine's first-ever "Kid of the Year."

Gitanjali Rao, a sophomore at STEM School Highlands Ranch in suburban Denver who lives in the city of Lone Tree, was selected from more than 5,000 nominees in a process that culminated with a finalists' committee of children, Time for Kids reporters and comedian Trevor Noah.

Rao told The Associated Press in a Zoom interview from her home Friday that the prize is "nothing that I could have ever imagined. And I'm so grateful and just so excited that we're really taking a look at the upcoming generation and our generation, since the future is in our hands."

Time said in a statement that,

along with Nickelodeon, it wanted to recognize "the rising leaders of America's youngest generation" in making the award. For 92 years, Time has presented a "Person of the Year," and the youngest ever was Swedish climate activist Greta Thunberg, who was 16 when she graced the magazine's cover last year.

Time said Rao stood out for creating a global community of young innovators and inspiring them to pursue their goals. Rao insists that starting out small doesn't matter, as long as you're passionate about it.

Rao's innovating started early.

At age 12, she developed a portable device to detect lead in water.

She's created a device called Epione that diagnoses prescription opioid addiction at an early stage. She's also devised an app called Kindly that uses artificial intelligence to help prevent cyber bullying. It allows teens to type in a word or phrase to find out if the words they're using are bullying and lets them decide to edit

what they're sending or to proceed.

"And currently, I'm looking back at water, looking at moving things like parasitic compounds in water and how we can detect for that," Rao said after a day's remote schooling.

She told actress, activist and Time contributing editor Angelina Jolie in a Zoom interview that her science pursuits started early as a way to improve social conditions. The drinking water crisis in Flint, Michigan, inspired her work to develop a way to detect contaminants and send those results to a mobile phone, she said.

"I was like 10 when I told my parents that I wanted to research carbon nanotube sensor technology at the Denver Water quality research lab, and my mom was like, "A what?" Rao told Jolie. She said that work "is going to be in our generation's hands pretty soon. So if no one else is gonna do it, I'm gonna do it."

The sensor technology involves molecules of carbon atoms that can detect chemical changes, including

chemicals in water.

Rao has partnered with rural schools; museums; science, technology, engineering and mathematics organizations; and other institutions to run innovation workshops for thousands of other students.

In a world where science is increasingly questioned or challenged, Rao insisted that its pursuit is an essential act of kindness, the best way that a younger generation can better the world. Science and technology are being employed as never before to tackle the coronavirus pandemic, global warming and a host of other issues, she noted.

“We have science in everything we’re involved in, and I think that's the biggest thing to put out there, that science is cool, innovating is cool, and anybody can be an innovator,” Rao said. “Anybody can do science.”

Time was planning a Kid of the Year broadcast special at 7:30 p.m.

EST (5:30 p.m. MST) on Nickelodeon. AP

Editor: Angel R. Calso

China prepares large-scale rollout of Covid-19 vaccines

T

AIPEI, Taiwan—Provincial governments across China are placing orders for experimental, domestically made coronavirus vaccines, though health officials have yet to say how well they work or how they may reach the country's 1.4 billion people.

Developers are speeding up final testing, the Chinese foreign minister said Thursday during a UN meeting, as Britain issued approval for emergency use of Pfizer Inc.'s vaccine candidate and providers scrambled to set up distribution.

China's fledgling pharmaceutical industry has at least five vaccines from four producers being tested in more than a dozen countries including Russia, Egypt and Mexico.

Health experts say even if they are successful, the certification process for the United States, Europe, Japan and other developed countries might be too complex for them to be used there. However, China said it will ensure the products are affordable for developing countries.

One developer, China National Pharmaceutical Group, known as Sinopharm, said in November it applied for final market approval for use of its vaccine in China. Others have been approved for emergency use on health workers and other people deemed at high risk of infection.

"We must be prepared for largescale production," said Vice Premier Sun Chunlan, who has overseen much of the country's response, during a visit Wednesday to developers, according to the official Xinhua News Agency.

Sun visited one of Sinopharm's Beijing subsidiary companies; another producer, Sinovac, and a research lab under the National Medical Products Administration, a regulatory agency that approves medical products for public use.

The government has yet to say how many people it plans to vaccinate. Sun said plans call for vaccinating border personnel and other high-risk populations this month.

The companies are using more traditional techniques than Western developers.

They say unlike Pfizer's vaccine, which must be kept frozen at temperatures as low as minus 70 degrees Celsius (minus 94 Fahrenheit), theirs can be stored at 2 to 8 C (36 to 46F). The Chinese producers have yet to say how they might be distributed.

More than 1 million people in China have received experimental vaccines under emergency use approval. Health experts question why China is using them on such a vast scale now that the outbreak is largely under control within its borders.

Health officials previously said

China will be able to manufacture 610 million doses by the end of this year and ramp up to 1 billion doses next year.

The government of Jiangsu province, where the major city of Nanjing is located, issued a procurement notice for vaccines from Sinovac and Sinopharm on Wednesday for emergency use vaccinations.

Authorities in Sichuan province in the west, which has about 85 million people, announced Monday they were already buying vaccines.

An official newspaper in Anhui province, southeast of Beijing, said a local residential committee issued a notice asking whether residents want a vaccine.

The Sichuan and Anhui announcements said the vaccine, given in two shots, would cost a total of 400 yuan ($60).

Vaccines from Sinovac and Sinopharm were approved for emergency use in July.

In October, Zhejiang province south of Shanghai offered the public vaccination under emergency use authorization. It said people considered high-risk would get priority.

In November, the Communist Party secretary for Sinopharm said almost 1 million people had received its vaccine.

In September, Sinovac's CEO said about 3,000 of its employees had taken their vaccine. He said the company provided tens of thousands of doses to the Beijing city government.

Developers have yet to disclose how effective their vaccines are and possible side effects.

Sinopharm has clinical trials under way in 10 countries including the United Arab Emirates, Egypt, Jordan, Peru and Argentina with nearly 60,000 volunteers. It has built two facilities in China capable of producing 200 million doses per year.

Sinovac has trials in Brazil, Turkey and Indonesia. Its most recent publicized data, a study in the science journal the Lancet, showed its candidate produced lower levels of antibodies in people than those who had recovered from Covid-19. The company projects it will be able to produce a few hundred million doses of the vaccine by February or March of next year.

Another producer, CanSino, is testing in Russia, Pakistan and Mexico and pursuing partnerships in Latin American countries. Its vaccine, which has been used on an emergency basis with the Chinese military, uses a harmless adenovirus to carry genes into human cells to generate an immune response.

A fourth company, Anhui Zhifei Longcom Biologic Pharmacy Co., is conducting final stage trials across China. AP

Indonesia minister in $1.2 million coronavirus aid graft surrenders

J

AKARTA, Indonesia—Indonesia's social affairs minister turned himself in to anti-corruption authorities on Sunday to face charges of taking bribes related to the government's Covid-19 aid distribution.

Social Affairs Minister Juliari Batubara arrived at the Corruption Eradication Commission's headquarters in the capital, Jakarta, hours after the commission's Chairman Firli Bahuri called on him to surrender in a news conference just before midnight Saturday.

Batubara, who is also a member of the ruling Indonesian Democratic Party of Struggle, made no comment.

The anti-corruption commission, known by its acronym KPK, said Batubara is accused of receiving at least 17 billion rupiah ($1.2 million) from two supplier companies through his two subordinates, who were also named as suspects.

Bahuri said the suppliers were asked to set aside $0.7 for each package of basic food distributed to the poor for Batubara's benefit.

He said Batubara could face up to life in prison if found guilty of stealing public money.

“We will not stop here. We will closely

watch how the government’s social assistance is being procured and channeled during the Covid-19 pandemic,” Bahuri said.

He's the second Cabinet member arrested for graft in less than two weeks. Maritime Affairs and Fisheries Minister Edhy Prabowo, who has since resigned, was also arrested on suspicion of taking bribes in connection with exports of lobster larvae, and allegedly used the money for a luxury shopping spree in the United States.

The cases could further tarnish President Joko Widodo's credibility in fighting corruption. Two other Cabinet ministers, including Batubara's predecessor, have been sentenced to prison terms in corruption cases.

Widodo campaigned in part on a pledge to run a clean government in a country that ranked 85th out of 180 nations in the 2019 Corruption Perceptions Index compiled by Transparency International.

Indonesia has reported nearly 570,000 confirmed cases of Covid-19, the largest in Southeast Asia and second in Asia only to India's 9.6 million confirmed cases. Indonesia also recorded more than 17,000 deaths from the coronavirus, and has been adding 4,000-6,000 cases daily since last month. AP

A

A6 Monday, December 7, 2020 |

BOUND BY CRISIS, SAME NOBLE GOALS New task force merges government, private sector efforts in curbing hunger worsened by pandemic

COCA-COLA Philippines is one of the companies in the country which readily heeded the call for help

by Pilipinas Kontra Gutom from the private sector.

W

By VG Cabuag

ITH the onset of the coronavirus pandemic in mid-March, companies started giving out relief, mostly to the communities where they operate, as well as to employees and other stakeholders.

Some of their efforts, however, suffered some “birthing pains,” and were not coordinated with each other even if they had a common goal of giving relief to the needy, mostly handing out food, as the pandemic worsened hunger in the country.

Early in November, a multisectoral body called Task Force Zero Hunger launched what they called a movement to eradicate hunger among the poor. The body, led by Cabinet Secretary Karlo Nograles, has asked the private sector and other nonprofit organizations to band together with a common goal of feeding the hungry.

“Hunger persists as a complex, multidimensional problem which we face

as a nation. This movement calls on all organizations and each and every Filipino to help our fellow Filipinos. Lahat kasali, lahat kasalo. Everyone must be involved and everyone must contribute so everyone will be able to partake of a meal so we can end hunger together,” Nograles said.

“We need to have a systemic and sustainable solution that engages our food producers, lawmakers, businesses and the general public. There is a need for a national movement, aimed at inspiring and empowering individuals, businesses and organizations and government to make tangible actions toward ending hunger in the Philippines,” he said.

PILIPINAS Kontra Gutom pledged to support the Task Force Zero Hunger by helping produce and distribute at least 100,000 meals in Metro Manila and key provinces. Donations are accepted through the Ronald McDonald House Charities. ( Photo source: pia.gov.ph)

Such program is needed since large companies that have responded at the onset of the pandemic have moved on from giving out relief to helping the government purchase the vaccines against the coronavirus and hand part of it to their employees.

At the moment, firms such as CocaCola Philippines, Johnson and Johnson Philippines Inc., Metrobank, Dole Philippines, Golden Arches Development Corp. and San Miguel Corp. were the initial members of the group called Pilipinas Kontra Gutom from the private sector.

Each of these firms already have their own programs to reach out to the needy, but they pledged to support the task force by helping produce and distribute at least 100,000 meals in Metro Manila and key provinces.

These foods may be cooked at the kitchen, for instance, of McDonald's fast food or other participating firms who want to volunteer their facilities.

Nograles said they will also populate the group with some of the NGOs and they are currently in talks with Gawad Kalinga and Kabisig ng Kalahi Inc. The task force also called on organizations, companies and groups in the country to support their programs that include a project for farmers and food producers; malnutrition advocacy for children as well as pregnant and lactating

mothers; assistance through meal donations during a crisis, among others. These support the roadmap to achieving zero hunger and the key result areas outlined in the National Food Policy.

Initially, the donations are accepted through rmhc.org.ph, or the Ronald McDonald House Charities, but Nograles said the plan was to create a website for the organization to accept the donations.

In addition to the initial demonstration of commitment to provide food for the affected communities, 3,000 infant kits for children below two years old will also be distributed.

As solving the problem on hunger and providing sustainable solutions require greater participation from various sectors of society, Pilipinas Kontra Gutom invites companies, the academe, and nongovernment organizations to join the movement.

“If there’s anything that I learned from this pandemic, it’s that the private sector is not insensitive. They listen, feel, are responsive, reliable. Ready to help,” Nograles said.

The main question, however, is what will be the benefit that the companies will get from joining the governmentinitiated project?

Aniceto Sobrepeña, president of Metrobank Foundation Inc. and executive director of GT Foundation Inc., said their support for the movement hopes to create

an impact on those who do not have access to food and nutrition, mainly for the marginalized and underprivileged families.

“Our grant-making initiatives have helped social development partners to implement programs that help raise the quality of life of the poorest, most vulnerable, and underserved sections of the community.

To arrive at a more strategic and responsive approach, development assistance are aligned to specific Sustainable Development Goals,” Sobrepeña said in an emailed statement to BusinessMirror.

“We acknowledge our role as member of the business community in contributing to the government’s priority programs. It is our duty to look for opportunities to create a positive social impact on our stakeholders and beneficiaries,” he said.

Jollibee Group Foundation, which is not part of the initial members of the movement, also has the same feeding program called Project Karinderya, which they had already scaled up, thanks to the backing of Singapore-based Temasek Foundation and the German Federal Ministry for Economic Cooperation and Development (BMZ) through the DEG (German Investment Corp.).

It was organized to help provide access to safe food to affected communities and sustain livelihood of small entrepreneurs most affected by covid-19. Civil society and private sector organizations banded together to make food immediately available to an increasing number of families who suffer hunger due to the effects of the lockdown, while helping carinderias survive and recover their source of income.

Gisela Tiongson, executive director of the foundation, said they met with Nograles and shared with him the Jollibee-led project.

“We are honored to be part of this coalition as it demonstrates public and private collaboration. The details of the participation are being worked out and by the time [of] the formal launch of Kontra Gutom we can share more,” she said.

As of November, the project has served 30-day meal subsidies in the form of meal vouchers to 1,000 families through 50 carinderias. Currently, 240 more carinderias are providing meals to 4,800 families until December.

The groups, however, acknowledged that giving food for 30 days can only go so much and they need to band together in order for them to eradicate hunger for all, especially during these trying times.

Home Credit: The approachable one-stop shop for your financial needs

I

N these trying times, people need someone they can rely on and easily approach for their new financial needs. With the goal of providing fast, convenient and affordable financing to Filipinos— along with its innovations and extensive network of partner stores and merchants—Home Credit has easily made its mark to Filipinos as a well-loved financial partner that’s reliable and approachable, especially during the new normal.

The country’s leading consumer finance company with nationwide store presence and rapidly growing mobile presence has grown to become a “madaling lapitan” or easy to approach one-stop shop for all financial needs—regardless of the type of customer.

For the online learners and work from home warriors

NEED to upgrade your gadgets—maybe a new laptop, tablet, or smartphone— without having to break the bank? Home Credit provides more affordable and lighter monthly payment options for remote workers and students through its 0% interest installments plans, especially during these trying times. This is offered for a wide range of gadgets essential for studying or working effectively from home as well as for appliances and other commodities. To apply, all you need to do is present 2 valid IDs to any partner store or start an application via the My Home Credit app.

For those who need financial support for big necessities and emergencies

MANAGING finances during uncertain times can be very challenging. On top of the daily expenses, there are also tuition fees, house renovations, and funds for emergency expenses that usually takes months or years to prepare for. But don’t be disheartened— Home Credit’s cash loan will help ease your financial burden. Existing Home Credit customers with good financial records can be eligible to apply for a cash loan and get approved for as much as Php 150,000.

Upon receiving a cash loan offer, you can choose whether to apply via the My Home Credit App, our telesales operator, or any Home Credit partner store. Just present your 2 valid IDs and wait for your loan decision in as fast as 1 minute.

Disbursement or release of your cash only takes 1 minute, too. Now, budgeting for big necessities and emergencies doesn’t seem so impossible anymore!

For customers who want daily expenses to be rewarding

Loyal customers deserve only the best financial partner they can count on in times of need. Whether it’s for groceries, household needs, and other necessities, your Home Credit Card diskarte partner has got you covered. Apply for a new gadget or appliance loan to get the Home Credit Card offer—now with a low monthly interest rate of 2%. Once approved, you can enjoy shopping at your favorite stores, earn 1% rebate for every purchase, and get a 5% discount with no convenience fee when buying load and paying bills. It is also QR-enabled—meaning you don’t need to bring your cards or wallets when making purchases at select stores!

For those who are navigating the new normal

WHILE the My Home Credit App is a very convenient and safe way to apply for Home Credit loans, the app offers so much more.

With the My Home Credit App, customers now have access to a variety of financial products and services at their fingertips.

Among these is Home Credit Pay, which

allows Home Credit Card users to make purchases and transactions via QR code, settle their bills payments, and pay for their Home Credit loans online anytime, anywhere.

Endless shopping deals and rewarding discounts can also be discovered in the My Home Credit App. With Smile Rewards, anyone with the app—even those with no prior or current loan with Home Credit— can enjoy up to 50% discounts at over 15,000 Home Credit partner merchants.

On the other hand, there is also the Home Credit Marketplace where you can conveniently shop for big-ticket items at participating partner stores nationwide— all while staying at the safety and comfort of your homes.

So, whether you’re a first-time borrower w ho wants to apply for a Home Credit loan or an existing customer who wants easier and safer payment and shopping options, Home Credit has the perfect product or service for you.

“More than just providing loans, we also want to be a meaningful partner to customers by being there for them in every step of their journey,” says Home Credit Philippines’ Chief Marketing Officer Sheila Paul.

Exciting promos for the holidays

THIS holiday season, Home Credit continues to provide its customers with a meaningful gift shopping experience through its ongoing deals and promos.

Starting November 28 until December 31, 2020, 500 lucky winners every week will win a P500 discount off their loan (onetime) thanks to Home Credit’s The Amazing 500 Raffle Promo. To qualify, just apply and get approved of a Home Credit loan with a minimum amount of P15,000 and above.

Customers can also get the best and latest gadgets and appliances with 0% interest installment from top mobile brands and retail partners nationwide, while cardholders can earn a raffle entry for every Home Credit Card transaction and be one of the potential 63 winners of

rebate worth P100,000.

Stay updated on the exciting activities Home Credit has in store this holiday season by following the Home Credit Philippines official

Facebook, Instagram, and Twitter pages.

For more information about Home Credit’s products and services, visit https:// homecredit.ph/.

Special Feature

| Monday, December 7, 2020

A7

‘Ingat Angat Tayong Lahat’ empowers Filipinos with vigilance in restarting the economy

T

By Leony R. Garcia

ODAY, more than ever, is the time to be compassionate –to show real care and compassion with one another.

2020 is a year like no other – it’s a crucial time challenging and calling for the best in humanity, for people to come out better – in the battle against an unseen enemy, COVID-19 – and to rise once again after the natural disaster brought by the recent typhoons.

This time around, the name of the game is not ‘survival of the fittest’ but ‘in unity we stand and win.’

The Filipino people’s resilience, hope and faith in God and in the bright future ahead is more evident nowadays. We hear, see and read reports of many individuals, various groups and organizations stepping up or banding together to help our many kababayans affected by these great challenges of the new era. Social media is abuzz with various activities creating funds and mobilizing volunteers and donors.

With 64 percent of Filipino internet users spending more time on social media (as of April 2020 Statshot report by Hootsuite and We Are Social), economic movement has also become on the rise which is actually beneficial for the citizens and the country as a whole.

Online businesses for food and necessities and services abound on FaceBook while various business communities support each other thereby keeping many Filipinos earn a living while protecting buyers at bay from virus infection.

On a larger scale, brands and companies across various industries have banded together to help restart the economy while ensuring consumers’ health and safety. One of the

private sector’s notable campaigns is called Ingat Angat Tayong Lahat which is geared for consumer confidence and economic recovery.

With nearly 200 supporters as of December 3, 2020, the campaign is committed to empowering Filipinos with vigilance to re-start the economy. The campaign has already obtained the support of the biggest corporations and brands in the country, including Aboitiz Equity Ventures, Alliance Global Group (Megaworld, Resorts World, Emperador), Jollibee Foods Corporation, McDonald’s Philippines, Goldilocks, BDO, BPI, Metrobank, Paymaya, Alaska, Champion, Century Pacific Food Inc., Coca Cola Philippines, Oishi LIwayway Marketing Corp., PepsiCo, Procter & Gamble Philippines, RFM Corporation, Unilever, Petron/San Miguel Corporation, Shell, Ayala Malls, Filinvest Development Corporation, Robinsons Malls, SM Supermalls, Globe Telecom, Smart Communications, Angkas and Food Panda.

The media partners include CNN Philippines, GMA, Kapamilya Channel, KBP (Kapisanan ng mga Brodkaster ng Pilipinas), Philippine Daily Inquirer, The Philippine Star, Solar Entertainment Corporation, TV5, Tiger 22, Facebook, Lazada, Shopee, Viber , Phar Partnerships; and LED OOH and Transit Outdoor partners Activations Advertising Inc. (AAI), Dooh.ph, Globaltronics, Krazy Media Ads Solution, Luneta Advertising, Nyxsys Philippines, Out of Home Advertising Association of the Philippines (OHAAP), Steel

Art, Summit Outdoor Media and United Neon (UN). While the agency partners include Bookt, Cobena, EON, HIT Productions, Nuworks, Omnicom Media Group, Pabrika, PSRC, Slingshot, Synergy, TBWA/Santiago Mangada Puno, and Viva Entertainment, Inc. The creative idea behind the campaign and its memorable tagline of Ingat Angat Tayong Lahat were crafte d by the genius of TBWA/ Santiago Mangada Puno’s Managing Partner and Chief Creative Officer Melvin Mangada.

Meanwhile, Savoy Hotel Manila and Mercato Centrale have supported the press launch of the campaign.

The Road to Economic Recovery: Ingat Angat Tayong Lahat

THE Ingat Angat Tayong Lahat campaign sends a message of resilience, hope and inspiration to boost businesses to continue to increase operations while ensuring strict safety standards and to encourage Filipinos to once again enjoy activities outside the confines of their homes slowly but surely.

The campaign is part of the private sector’s support for Taskforce T3 (Test, Trace, Treat), the multi-sector initiative put together in April 2020 to work closely with the Department of Health (DOH), the National Task Force (NTF) against COVID-19, and the Inter-Agency

Task Force on the Management of Emerging Infectious Diseases (IATF-EID) to manage the outbreak of the pandemic in the country.

With the reopening of the economy, the group realized the importance of rebuilding consumer confidence with health and safety still a priority.

Jaime Augusto Zobel de Ayala, Chairman and CEO of Ayala Corporation, a founding partner of TaskForce T3, underscored the importance of continued public-private sector cooperation. “The private sector has found a new front where we can be supportive of the fight against COVID, and that is in restoring the confidence of our citizens that we can all resume our lives and livelihoods, so long as we strictly follow the minimum health standards recommended by health experts.”

A Call for Greater Participation

ANOTHER lead proponent of Ingat Angat Tayong Lahat, Angkas’ Chief Transport Advocate George Royeca, calls on more companies, especially small and medium enterprises, to get on board with Ingat Angat.

“This campaign is for all businesses – not only the big brands, but more so for small and medium enterprises. We invite all businesses from all over the country to participate and embrace this advocacy. Let us

all help each other get back on our feet safely and surely,” Royeca said.

“Now we humbly ask for your commitment and support. By downloading and using our Ingat Angat materials, you are helping the country get back on its feet, safely and surely,” the group said.

“The tagline and the supporting visual brands and materials, which can be adapted by any brand, help promote the message of Ingat Angat Tayong Lahat, creating a sense of solidarity with the whole business community and our consumers,” Melvin Mangada, campaign creator, explained.

These visual aids include branding guidelines, logos and templates that business groups can download and adapt to their operations.

“We can help the country get back on its feet by supporting and keeping one another safe,” Ingat Angat stressed.

Department of Trade and Industry (DTI) Secretary Ramon M. Lopez praises this initiative and stresses the importance for businesses to unite in order to win back the confidence of consumers and get the economy back on its feet.

“At this point in managing the COVID-19 pandemic, balancing health and the economy is our main priority. This is why we are pushing for the gradual and safe reopening of the economy.

In line with the spirit of the campaign, we can only move forward by supporting and keeping one another safe while protecting lives and livelihoods,” Sec. Lopez said.

Watch the campaign video here: https:// youtu.be/Z0nTqLErv4o.

For more information, visit www.ingatangat.com. Join the Viber Community https:// vb.me/IngatAngat, where you can download Ingat Angat stickers and get information on safety guidelines of your favorite establishments, COVID-19 updates, and articles from credible sources.

Agriculture/Commodities BusinessMirror

A4 Monday, December 7, 2020 • Editor: Jennifer A. Ng A8

www.businessmirror.com.ph

Brazil to PHL: Lift ban on other poultry products

By Jasper Emmanuel Y. Arcalas @jearcalas

B

RASILIA reiterated its call to totally lift the import ban slapped on its poultry products by Manila, arguing that it has already complied with all the technical requirements imposed by Philippine authorities.

In a three-page letter to the Department of Foreign Affairs, the Embassy of the Federative Republic of Brazil provided an explanation on two issues raised by the Department of Agriculture (DA) as part of its technical assessment of the poultry import ban on the Latin American country. A copy of the letter was also sent to the DA. The two issues are: 1) list of slaughterhouses that export to the Philippines in whose premises cases of Covid-19 would have been found

among its employees and 2) current percentage of testing for Covid-19 of employees of establishments which presently export chicken meat to the Philippines.

Brazil said the two issues are still deemed by the Philippine authorities as “unanswered” despite a series of back-and-forth communication between the two countries on the matter.

Before providing an answer to the two issues, Brazil said the information being requested by Philippine authorities, which it insists does not have scientific basis, “can be considered” under the World Trade Organization (WTO) Sanitary and Phytosanitary Agreement (SPS) as “undue delay.”

“It is necessary to reiterate that Brazil disagrees with the relevance of these questions on a sanitary dimension, considering that there is consensus in the

scientific area, supported by the World Health Organization, FAO, Codex Alimentarius and various risk analysis agencies around the world, regarding the absence of any evidence that the new coronavirus that causes Covid-19 can be transmitted through food or through food packaging,” the letter, a copy of which was obtained by the BusinessMirror, read.

The principle that SPS measures should not constitute an “arbitrary or unjustified” trade barrier, it added, is more important than the precautionary principle during these “challenging times” to ensure food security amid the impact of the Covid-19 pandemic.

“In line with Articles 2.2, 2.3 5.1 and 5.2 of the SPS agreement, even if the Philippine side is seeking to evoke the precautionary principle, it is necessary to present the corre-

sponding scientific justification,” the letter dated December 3 read.

Brazil then answered the questions posed by the Philippines as “a gesture of good faith.”

On the first issue, Brazil said their existing rules do not allow any employee to enter his or her workplace if he or she tested positive for Covid-19 or even showed the symptoms of the novel coronavirus.

Brazil said at any given time, there must be “zero symptomatic employees with the potential for transmission within meat processing establishments, strictly for reasons of epidemiological safety of the work force.”

It continued: “In turn, the systems for official control and risk management put in place by the Federal Inspection Service guarantee the health security of products of animal origin marketed in Brazil

or exported,” it said.

Furthermore, Brazil said their existing Covid-19 measures and rules do not “require minimum testing percentages as it already provides for active search and consequent removal of symptomatic employees.”

This, it added, “has proven to be an effective procedure for disease control within work environments.

In any case, periodic tests are taken strictly to ensure the epidemiological safety of workers, since, as already mentioned, the occurrence of Covid-19 has no impact on the security of food and its packing.”

Given these measures, Brazil’s Ministry of Agriculture, Livestock and Food Supply, sought the “immediate review of the preventive measure implemented in detriment of poultry meat imports from Brazil.”

In October, Manila stood its ground and kept the ban on Brazilian poultry products, except mechanically deboned meat (MDM), until it was satisfied with how Brasilia curbed the Covid-19 outbreaks in its meat-exporting plants.

The DA then said it welcomes the action of the government of Brazil to raise a dispute case against the Philippines at the WTO for maintaining the import ban, which it called an “unjustified and undue barrier.”

Agriculture Secretary William D. Dar said the Brazilian government has yet to comply with all the documents that the DA is requiring regarding the Covid-19 infections in Brazil’s Philippine-accredited foreign meat establishments. (Related story here: https://businessmirror.com.ph/2020/10/26/da-firmon-poultry-ban-as-brazil-goesto-wto/).

Govt to build cold storage warehouses in 3 provinces

T

HE Department of Agriculture (DA) said it will spend P280 million to put up cold storage warehouses with meat-cutting facilities, which would allow local meat producers in three provinces to sell “choice cuts.”

The DA said the facilities would be constructed in Magalang, Pampanga; Tanauan and San Jose in Batangas; and in Malagos, Davao del Sur. The post-harvest facilities will be funded by the National Meat Inspection Service (NMIS), an attached agency of the DA. Agriculture Secretary William D. Dar said in a statement that these facilities “will help support the recovery of the country’s hog and poultry sub-sectors as they were adversely affected by the African swine fever and economic slowdown due to the Covid-19 pandemic, respectively.”

The country’s livestock and poultry sub-sectors are among the drivers of local rural economies, contributing to livelihood and employment, and generating income for poor farm households, according to the DA. “Efficient management and delivery of food crops, fruits and

vegetables, fishery, livestock and poultry products are imperative and critical, in response to the country’s food security requirements. Hence, now more than ever, we should put premium on the establishment of modern storage, processing, and logistics facilities to attain a globally-competitive food value chain system,” Dar said.

The 4 DA-NMIS-funded cold storage areas “will be complemented with meat-cutting facilities to allow further value-adding that will enhance farmers’ incomes as these can produce choice meat cuts to supply the growing market.”

With the new facilities the DA said the local meat industry could produce mechanically deboned meat (MDM), a primary raw material used by meat processors to produce products like hot dogs and meat loaf.

Dar said the DA-NMIS will partner with hog farmers and poultry raisers, industry stakeholders, respective local government units, and the academe in Pampanga, Batangas, and Davao in putting up, operating and maintaining the cold storages and meat-cutting facilities. NMIS

Executive Director Reildrin Morales said negotiations are ongoing with concerned stakeholders.

“Once established, the facilities will provide services to meat processing industries, serve as an avenue for research and learning, and help enhance the conduct of the government’s meat industry regulatory functions,” Morales said.

The DA said the budget for the 4 facilities would come from the Bayanihan 2 funds of which P24 billion was given to the department as supplemental budget to help address the impact of the Covid-19 pandemic on the agri-fishery sector.

“The DA is implementing a food logistics plan as part of its national ‘Plant, Plant, Plant’ program to revive, grow, and reboot the country’s agriculture and fishery sector amid the ongoing health crisis,” Dar said.

“We believe the initiatives of the Duterte administration will help reinvigorate the Philippine countryside after surmounting the Covid-19 pandemic, by increasing food production and establishing postharvest, storage and logistics systems.”

that energy efficiency is estimated to be “45 percent more labor-intensive than BBB [Build, Build, Build] infrastructure projects.”

The forum was organized by the European Chamber of Commerce of the Philippines (ECCP) in partnership with PE2. It was co-presented

by ABB and the Philippine Energy Independence Council (PEIC).

PEIC Director Amor Maclang highlighted the importance of collaboration among the players in the sector, saying it is “indispensable to the creation of a Philippines that is energyindependent and energy-secure.”

This, she said, “is one of the main goals of the partnership that has been forged between the PEIC and the ECCP,” adding, “Our unified vision is to tap into and harness the abundant natural resources that our country has, to provide energy in its remotest areas, as well as to ensure

₧206-B GOCC 10-mo subsidies breach total for 2019 continued from a1

Among the GOCCs, the Social Security System (SSS) received the most subsidies for the period at P51 billion. It had been used as conduit for releasing the Small Business Wage Subsidy Program aimed at helping the micro, small and medium enterprises amid the economic slowdown due to the coronavirus pandemic.

Following SSS are National Food Authority (NFA), Philippine Health Insurance Corp., National Irrigation Administration (NIA) and National Housing Authority with P37.65 billion, P30.448 billion, P29.239 billion and P17.992 billion, respectively.

In October, the major nonfinancial government corporations received most of the subsidies,

which amounted to P5.411 billion. This is over 85 percent of the total October subsidies.

The remaining P900 million, or 14.26 percent of the total subsidies extended for the same month, was accounted for by other government corporations. Government financial institutions did not receive subsidies in October.

The bulk or P4.266 billion of the subsidies in October were given to NIA, followed by National Electrification Administration and NFA with P885 million and P252 million, respectively.

The national government provides subsidies to state-run firms to fund operations not covered by the corporate revenues or to finance specific programs or projects. Tyrone Jasper C. Piad

his crop.

LAILA AUSTRIA

Jasper Emmanuel Y. Arcalas

‘Energy future must build on shifts in energy landscape’ continued from a12 “We have made steps towards digitization, and invested in technology that has allowed us to maintain facilities remotely. Digital tools keep teams engaged and investments have allowed businesses to move smoothly,” said Rubio.

Meanwhile, ABB Inc. Technical Design and Promotion Manager Jerico Medel likewise discussed digitalization as the key to efficient energy distribution, with the “smart grid” as a solution to overcoming logistical challenges, while providing improved operational efficiency, lowering operating costs, increasing system reliability, while improving the quality of service to customers.

Philippine Energy Efficiency Alliance (PE2) President Alexander Ablaza said Covid-19 “will not be the last economic slump” and asserted that “we have to be more flexible” to address future crises. He added

GOLDEN LEAVES' SHADE A farmer in Candon, Ilocos Sur, takes a break under a natural drying barn full of tobacco leaves after harvesting

that our economy does not just reopen, but to continue running in a stronger and more robust fashion.”

PEIC and ECCP will hold their next event on December 10 and January 21 to create concrete plans based on the discussions of this forum to develop lasting benefits that will benefit the country over the long-term.

Some of the topics to be discussed include: the modern enterprise and how the energy sector can thrive in the new normal; digital customer service solutions for power distribution; exploration prospects in the West Philippine Sea and their challenges, opportunities, and the necessary optimal response; the adaptation of energy self- sufficient infrastructure to offset operating costs and carbon footprint; and liquefied natural gas’s role in the next decade’s energy transition.

DOLE: More alien workers getting work permits now continued from a1 This, after the number of AEPs issued by the agency dropped to 5,311 from April to June with the onset of the Covid-19 pandemic from 62,934 in the first quarter of the year.

Of the 83,204 newly released AEPs this year, 69,867 or 83.97 percent were given to FNs employed in the POGO establishments.

Still Chinese-dominated

CHINESE nationals still make up most of the AEP applications in POGO-related establishments this year with 62,545.

The Vietnamese came in second place with 2,319, followed by Indonesians (1,230), Malaysians (1,215), Myanmari (1,053), Taiwanese (777), Koreans (355), and Thais (252).

The remaining 121 were issued to Singaporeans, Cambodians and other nationalities.

AEP is a document FNs must get

from DOLE to be allowed to work in the country for more than six months.

DOLE attributed the trend to the increase in the number of POGO-related establishments that managed to secure an Authorization to Operate (AO) from the Philippine Amusement and Gaming Corp. (Pagcor).

“Of the 338 POGO-related establishments, 152 establishments were granted authority to resume operations as of 1 October 2020,” DOLE said in its report.

It noted that among those granted the AO, only two are Local Gaming Agents, “which operate in the country, mostly acting as representative of offshore POGO licensees.”

Lower than expected

WITH many POGO-related firms still not able to operate, DOLE said the number of AEP it issue

this year may be less than 159,000 by year-end.

“It should be noted that early projections posited that 159,119 to 203,080 AEPs will be issued in 2020, which was calculated based on the 158,710 AEPs issued in the previous year,” DOLE said.

“However, as the economic and health impacts of the pandemic continue to manifest, AEP applications have yet to regain [their] momentum, bringing into question current projections,” it added.

Some lawmakers have expressed concern over the continuous operation of POGOs in the country due to the heavy reliance on FNs rather than local workers as well as the other problems associated with it such as money laundering and prostitution.

Despite these issues, there is currently no government policy banning POGO operations in the country.

TPB tapping emergency fund for Covid test subsidy Asked about the private sector’s reaction to this move of the DOT and TPB, re-elected president of the Tourism Congress of the Philippines (TCP) Jose C. Clemente III said, “While we welcome the offer of the DOT, through the TPB, to subsidize part of the testing for people who want to visit destinations around the country, there has to be a point where the local and provincial governments also have to ante up and take actions for themselves.”

He underscored, “The budget of TPB is not meant to cover things like these. It is not infinite. We also need these funds to continue marketing the country as we continue to march toward eventual normalcy.”

According to its board resolutions in 2013 and 2015, TPB is allowed to tap the SCF “in

the event of emergencies…to undertake marketing and promotions activities that will encourage sustained tourism interest in the Philippines and that will address the adverse effects of these emergencies.”

Further, the TPB can avail itself of the SCF “to respond to crisis situations including, but not limited to forestalling imminent threats or addressing new restrictions on tourism as well as compelling circumstances, urgent needs and unforeseen events that require emergency funding such as travel advisory, travel ban, political issues, slow growth of visitor arrivals and similar contingencies.”

The proposed RT-PCR subsidy was announced by Tourism Secretary Bernadette Romulo Puyat during an online presser on

December 2 with Environment Secretary Roy A. Cimatu and Interior Secretary Eduardo M. Año as they visited the island. (See, “Boracay to shift to antigen testing once health and safety protocols are tightened,” in the BusinessMirror, December 2, 2020.)

During Wednesday’s Boracay Inter-Agency Task Force (BIATF) meeting on the island, the DOT chief hammered on the importance of strictly enforcing health and safety protocols to raise visitor confidence. “We cannot stress fully enough the importance of showing our seriousness in carrying out our protocols and guidelines. Our local leadership is key in bringing forward our improved image. Furthermore, it is our wish to make more affordable RT-PCR tests to encourage more visits,” she stressed.

continued from a2

During the meeting, it was agreed the DOT will be responsible for securing at least 1,500 RT-PCR test kits for expanded testing on the island. The TPB is also paying for the cost of RTPCR tests for the island’s tourism work force.

Aside from Boracay, other destinations which require an RT-PCR test before arrival are Bohol, El Nido, Coron, Siargao, Ilocos Norte and Sur. Meanwhile, the TCP elected its officers last week. Aside from Clemente, also voted in were Lucas Nunag (Executive Vice President); Albert Banaag (VP for Luzon); Peter Tay (VP for Visayas); Harry Morris (VP for Mindanao); Orlando Ballesteros (Secretary); Marisa Nallana (Treasurer); Roberto Zozobrado (P.R.O.) and Trustees are Victor Martinez, Edgar Cases. Henry Oyao. Cindy Marie Verar, and Regina Amador.

www.businessmirror.com.ph

Banking&Finance BusinessMirror

China Banking Corp. keeps investment grade, outlook

By Tyrone Jasper C. Piad @Tyronepiad

C

hina Banking Corp. announced it was able to keep its Baa2 rating with stable outlook from debt watcher Moody’s Investor Service amid an ongoing economic slump.

The bank’s investment grade rating, which is at the same level as the Philippine sovereign rating, covers its long-term foreign currency counterparty risk and long-term foreign currency deposit.

In a recent Moody’s report, China Bank noted that the credit rating agency factored in its “stable capitalization and profitability.”

The rating also accounted for Moody’s expectation of risks to China Bank’s asset quality amid the economic slump because of the lockdown measures during this pandemic.

“We are very pleased to have maintained the investment grade rating from Moody’s, which confirms the Bank’s solid fundamentals and resilience,” China Bank President William C. Whang said. “We are proud that despite the challenging economic environment in 2020, we are able to continue to serve and support our customers and face the difficulties from a position of strength.”

In January to September, the

Sy-led bank saw its net income rise by 23 percent to P8.2 billion—translating to a return of equity of 11.15 percent—on the back of robust core businesses. Net earnings for the third quarter alone, meanwhile, improved by 21 percent to P3 billion year-on-year.

China Bank increased its loan loss reserves by 12 times to P6.3 billion. Nonperforming loans (NPL) ratio and NPL coverage stood at 2.5 percent and 104 percent in the first nine months.

The bank’s capitalization rose by 9 percent to P101 billion as of endSeptember. Capital adequacy ratio stood at 13.99 percent for the period, which is above minimum regulatory requirement.

In October, the bank raised over P15 billion from its fixed rate bond offering. Proceeds of the transaction were earmarked for the bank’s strategic initiatives and expansion plans.

China Bank Capital Corp. served as the issue coordinator, structuring advisor and bookrunner of the transaction. Meanwhile, the listed bank tapped Hongkong and Shanghai Banking Corp. Ltd., Philippine Commercial Capital Inc. and Standard Chartered Bank as the joint lead arrangers and selling agents.

The offering was drawn out from its P45-billion bond and commercial paper program.

Fintech, Globe unit ink deal for digital pay biz

F

inancial technology (fintech) startup JazzyPay Inc. is teaming up with GCash operator Globe Fintech Innovations Inc. (GFII) to provide cashless payment solutions to essential businesses amid lockdown measures due to the coronavirus pandemic.

In a statement, the fintech player noted that the GCash facility is now available in its platform as a payment method for hospitals, clinics, schools and other businesses in the country.

JazzyPay said that the partnership supports the shift to online payment as the Philippines moves closer to the financial digital age.

“For the Philippines to truly move forward in becoming a cashless society, these essential institutions need to be catered to as well,” Kathleen Acosta, co-founder and Chief Operating Officer of JazzyPay, was quoted in the statement as saying.

GFII President Martha Sazon welcomed the collaboration with JazzPay, noting that it can promote further financial inclusion in the country.

“Going beyond the definition of an e-wallet, GCash has now become a lifestyle app which greatly impacted Filipinos’ lives for the better amid the pandemic by helping them stay connected financially through contactless solutions,” Sazon said.

GCash reported registering a 700-percent surge in transactions in May. It is expecting its transaction volume to reach P1 trillion this year. The platform allows its users to transact with more than

86,000 merchants, pay to over 400 billers and send money to more than 40 banks.

JazzyPay said that even prior to the pandemic, the digital payment space has been gaining traction in the Philippines, noting that e-money transactions grew by 36 percent in 2019.

“Now, as the pandemic causes Filipinos to be more dependent on using cashless alternatives for payments, it is expected that the data for 2020 will reflect a more massive surge,” it added.

Last month, JazzyPay signed an accord with the Bank of the Philippine Islands (BPI) to provide digital payment scheme for online bank users as well.

The partnership is seen allowing millions of BPI clients to make cashless payments to its partner merchants.

Currently, JazzyPay is offering online payment gateway system allowing businesses to collect payments through 27 payment options, such as credit and debit cards, online banking, e-wallet and over-the-counter cash deposits.

Since its 2018 launch, JazzyPay has now hundreds of partner merchants across the country, including Manila Adventist College, Adventist Medical Center Manila, Adventist Hospital Santiago City and the Dr. Arturo P. Pingoy Medical Center.

It is a registered Operator of Payments System regulated by the Central Bank. The startup recently acquired the Payment Card Industry Data Security Standard Level 1 Certificate. Tyrone Jasper C. Piad

EXCLUSIVE

Experts see cash flow from OFWs to trickle until 2021 on job losses

T

By Cai U. Ordinario

@caiordinario

he Philippine economy’s best bet to shore up consumption and boost the economy—overseas Filipino worker (OFW) remittances—could remain weak until next year due to projected job losses and slow global economic recovery.

Ateneo Center for Economic Research and Development (ACERD) Director Alvin P. Ang told the BusinessMirror that, at best, remittance growth could remain flat next year.

This also means that another 400,000 OFWs could lose their jobs in 2021. This, he said, is the same number of OFWs expected to come home this year.

“With less new hires and more going home, remittance at best will be flat but basically will decline if global recovery is slower than expectations,” Ang told BusinessMirror over the weekend.

Ang added that other factors such as a strong peso and oil price issues in the Middle East where most of OFWs work, could further compound the problems of remittance-receiving families and the Philippine economy.

He explained that if oil prices remain erratic next year, there is a chance that remittance growth could contract in 2021.

Institute for Migration and Development Issues (IMDI) Executive

Director Jeremaiah M. Opiniano also said this is part of the reason for the call to “not expect too much from Pinoys abroad.”

According to Opiniano, who is also assistant professor at the University of Santo Tomas, OFWs are already feeling the stress of their limited financial capacity, especially given the state of the global economy and the pandemic, as well as the appreciation of the peso.

Earlier this year, Ang and Opiniano released two policy briefs which stated that lockdowns imposed on various host countries have reduced the financial capability of OFWs. This has caused many OFWs to be laid off from their jobs and forced to go home to the Philippines while others may have suffered pay cuts and forced to ride out the current crisis where they are.

“Months of remittance data reveal rising dollar volumes while the peso is appreciating. That is another stressful point: They had to send more, and we’re in a pandemic,”

Opiniano told this newspaper.

“We now see the real cost of this continued but surprising efforts of Pinoys abroad: how long can they, their physical and mental health, and their money hold on during this pandemic?” he added.

These local views lend credence to the report of the Asean+3 Macroeconomic Research Office (AMRO) that the recent increases in remittances were only temporary.

The report stated that temporary boost received by remittances from the availability of digital services such as mobile wallets and internet banking could just be “hiding ongoing weaknesses.”

The Amro noted that with mobility restrictions and closed borders, migrants are expected to send remittances through formal channels which may cost more compared to informal channels.

Further, the jump in remittances in the past few months, the Amro said may also speak of returning migrants who were repatriated due to job losses. The Amro added that in the region, it is expected that continuing “outbreaks and stop-go economic activity” in destination countries may not help the cause of migrants in the region, including OFWs. “Remittance receipts could remain sluggish if economic conditions in key sources outside and within the region need time to recover and resurgences in infections continue,” the Amro said.

“In addition, ongoing travel restrictions suggest that migrant deployment and re-migration will likely remain depressed for some

Perspectives

Why we need to rethink optimization

T

ransformation creates business value precisely by changing processes and structures, moving them towards leading practice. When customizing a platform, businesses can be left with a compromise that only perpetuates old ways of working, causing enough discontinuity to frustrate users yet failing to change the practices that are most important for ongoing value.

The result? n Business benefits are not realized n Projects are time-consuming, high risk, and high cost n Every part of the business works differently n Bigger visions or strategies never come to life n Structure and governance issues are overlooked n The whole process needs to be repeated a few years later Customization also compromises the potential benefits of new cloud platforms.

Every time these platforms are upgraded and improved, businesses need to adjust and test a customized solution. This leads to increased maintenance costs and makes the quality of outputs uncertain.

Unlocking value with a new approach

Agility is the new currency of business.

With market forces moving faster than ever, you need to bring people, processes, technology, service delivery models, performance insights and governance together.

Since a change in any one of these areas affects every other, optimizing across the interdependent layers is the key to getting the most from investments.

To unlock that value, new platforms alone aren’t enough. Instead, these platforms need to support and enable transformation in both culture and the way finance functions operate. That means minimizing customization and using technology to enable new ways of working by building leading practice into every layer of your finance function.

The excerpt was taken from “KPMG Thought Leadership, Follow the proven path to finance transformation: Take six steps to success.” © 2020 R.G. Manabat & Co., a Philippine partnership and a member-firm of the KPMG global organization of independent member-firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.

For more information on KPMG in the Philippines, you may visit www.kpmg.com.ph.

R.G. Manabat & Co., a Philippine partnership and a member-firm of the KPMG network of independent member-firms affiliated with KPMG International Cooperative, a Swiss entity.

Mastercard to review Pornhub ties after column spurs outrage

M

astercard Inc. is reviewing ties to MindGeek after a New York Times column accused the parent of the Pornhub.com website of distributing videos depicting child abuse and nonconsensual violence.

Mastercard said Saturday it doesn’t tolerate illegal activity on its payment network, and that it works with law enforcement and organizations like the National Center for Missing & Exploited Children to detect illegal transactions.

Pornhub denies it allows child videos on its site.

“We are investigating the allegations

Monday, December 7, 2020 A9

raised in the New York Times and are working with MindGeek’s bank to understand this situation, in addition to the other steps they have already taken,” Mastercard said in a statement. “If the claims are substantiated, we will take immediate action.”

Nicholas Kristof’s column in the Times describing recordings of assaults and a naked video of a 14-year-old girl sparked outrage on social media, including a Twitter post from activist investor Bill Ackman asserting card companies should withhold payments or withdraw participation with Pornhub “until this

is fixed.” Kristof wrote that Pornhub doesn’t adequately block or filter content depicting violence and allows videos to be downloaded directly from its site, meaning that material can spread even after it’s taken down.

Pornhub said any assertion that it

allows child sexual abuse material is untrue. The site is “unequivocally committed to combating” the content and has implemented an “industry-leading trust and safety policy to identify and eradicate illegal material,” Pornhub said in a statement.

Mastercard and its rival Visa Inc. don’t work directly with retailers. Instead, websites seeking to accept credit and debit cards sign up with a bank known as a merchant acquirer to help them process payments. A spokesperson for Visa didn’t respond to requests for comment. Bloomberg News

time to come and might even have a more permanent dampening effect on remittances,” it added.

Last month, the Bangko Sentral ng Pilipinas (BSP) reported that cash remittances from OFWs hit $2.6 billion in September, growing by 9.3 percent from the $2.34 billion they sent in September 2019 last year.

The 9.3-percent growth was the strongest monthly data seen for remittances since April 2018. The 9.3-percent growth in September also comes at the heels of a 4.1-percent contraction in the money OFWs sent in August.

The September inflow of remittances pushed the nine-month total money sent home to $21.89 billion.

This is 1.4 percent lower than the total money they sent in January to September last year. This is significantly better than the BSP’s forecast of a 5-percent decline in remittances on average by the end of the year.

By country source, Filipino migrant workers from the United States, Singapore, Qatar, Hong Kong and Taiwan sent more money in the first nine months of this year compared to the same period last year.

Their higher remittances compensated for the declines in remittances from Filipinos in Saudi Arabia, the United Arab Emirates, Germany, Kuwait and the United Kingdom.

The US posted the highest share to total remittances at 40.1 percent, followed by Singapore, Saudi Arabia, Japan, the UK, the UAE, Canada, Hong Kong, Qatar and Taiwan. The combined remittances from these countries accounted for 78.8 percent of total cash remittances.

Govt spends on housing

T

he Department of Human Settlements and Urban Development (DHSUD) will provide housing for 184 farmers in Pangasinan.

In a statement, DHSUD Secretary Eduardo D. Del Rosario said the housing units will be built through a project with the Department of Agrarian Reform (DAR) for local farmers in Pangasinan.

The houses will be built on a 2.6-hectare land owned by the Umingan, Pangasinan Local Government Unit (LGU) for the farmer-beneficiaries.

The houses, which will cost between P250,000 to P300,000 each, will be built on a 2.6-hectare land owned by the Umingan, Pangasinan Local Government Unit (LGU) for the farmer-beneficiaries.

“Napakaganda nitong programa na ito dahil ina-address na niya ’yung poverty incidence sa provinces and it also prevents internal migration to the metropolis. Napakaraming andito sa NCR (National Capital Region), Metro Manila, Region 4A, dito nagre-reside, they would like to migrate because naghihirap, so this program aims to minimize poverty and spur economic activity in the regions,” Del Rosario said.

According to the DHSUD, farmer beneficiaries will amortize the units with an interest of 2 percent per annum at P1,100 per month.

Based on data from the Philippine Statistics Authority (PSA), farmers are among the poorest in the Philippines.

The country’s average basic wage and salary paid to workers in the agriculture sector increased to P247.81 per day in 2019.

It increased yearly by an average of 6 percent growth from 2015 to 2019.

Agricultural workers engaged in fishing and aquaculture activities received higher basic wage and salary at an average of P262.42 per day, than those involved in agriculture and forestry whose payment averaged P246.62 per day.

In order to undertake the BALAI Farmers Housing Program, the DHSUD, DAR, Ayala Land Corp., and the National Home Mortgage Finance Corporation (NHMFC) signed two key pacts.

The Memorandum of Agreement and a Memorandum of Understanding were finalized by DHSUD, DAR, NHMFC with the Umingan, Pangasinan local government unit and the D’Plowman Cooperative.

“The BALAI Farmers Housing Program is a holistic and comprehensive solution aimed at achieving inclusive growth by means of uplifting the quality of lives of farmers, particularly the agrarian reform beneficiaries, through housing, livelihood, education and technological innovation,” DHSUD said.

Through the BALAI Farmers Housing Program, DHSUD hopes to tap the participation of private housing developers through balanced housing compliance, as well as facilitate affordable housing loans through the department’s key shelter agencies and government financial institutions.

The DAR, meanwhile, will spearhead efforts with regards to the provision of livelihood activities as an integral component of the housing program to ensure productivity of farmers.

Aside from Umingan, the project also has pilot sites in Bayombong, Nueva Vizvcaya, Gabaldon or San Jose City in Nueva Ecija, Basey in Samar, Argao, Cebu, Daet in Camarines Norte and Davao’s Calinan. Cai U. Ordinario

A10 Monday, December 7, 2020 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

The Southeast Asian oasis

I

F there is any silver lining in the pandemic cloud, maybe it’s the fact that terrorists in Europe and armies in the Middle East have cut back on blowing up people and stuff. Of course, you can always count on the Indians and the Chinese to have a go at each other over their border standoff in the western Himalayas.

Maybe it is because that area is so high in the mountains the troops on the ground are not aware of what is going on in the rest of the world. The most popular sport in the Ladakh region is ice hockey— real ice hockey played on natural ice.

Part of the India-China conflict may be that the national sport of India is cricket—only the British and former colonies understand that game—and in China table tennis, also known as “ping-pong” or “whiff-whaff.”

Cricket matches are played over three to five days; with spectators being reminded what the score was when the previous day ended.

Professional “whiff-whaff” is such a terrible spectator sport that the Olympics had to make the ball larger so the public could see what was happening during the game. This war will never end. There is no common ground.

Not a silver lining is this: There is civil unrest all over the world with one exception. Certainly, these are for the most part just “normal.” “An official from the Tigray People’s Liberation Front has told CNN the war in Ethiopia is far from over and that Eritrean troops are part of the conflict.” “Riots in Paris as furious masked mob set cars on fire and throw Molotov cocktails as thousands march against law making it illegal to film police.” The US is in total chaos.

The one oasis on the planet that is not under complete confusion and disarray is Asia, particularly Southeast Asia. No wars between nations. No riots over mask-wearing. Politically stable governments.

Great pre-Covid economic growth that will recover relatively quickly.

The unrest in Thailand is actually business-as-usual regardless of some local geo-political experts calling it the “Thai Edsa.” Since the post of prime minister was established in 1932, the longest serving non-military person to hold that office lasted five and a half years.

The shortest, 17 days. Thailand has experienced nine military coups since World War 2. Actually, they have been getting better with only two in the 21st century. But 2020 is not yet over.

And part of the reason that Thailand is having political problems is the 3 million foreign tourists locked up in their home countries that would normally be there right now providing jobs and income.

How good is the situation in our region? The press is desperate to find negative news. Nikkei Asia publishes a story on October 21, 2020: “Thai protests build as pandemic fuels unrest across Southeast Asia.” It says, “Efforts to quell growing unrest recently saw the violent dispersal of protesters in Manila who were demanding government relief support. They forgot to mention this was back in April and involved “21 protesters demanding food aid arrested in Quezon City.”

Indonesia did have protests over a new labor law that the unions oppose. That was two months ago.

Strangely enough, it seems as if the situation is never as bad as some of the press/media make it out to be. “If it bleeds, it leads” still holds, and perhaps has never been truer than in the Covid-19 era.

Since 2005

Let’s not go back to how things were Atty. Jose Ferdinand M. Rojas II

RISING SUN

I

n our haste to go back to the life that we knew before the pandemic, we might forget the lessons that Covid-19 is teaching us, and the problems that got us here in the first place. This, I believe, would be the greatest tragedy of this global experience.

For one thing, the lockdowns and quarantine protocols have shown us that we can have cleaner air and bodies of water, and that some animals can thrive better without the intervention of man. We have seen that we can get work done without having to use our car to get to meetings or workplaces—and that we can even be more productive this way.

We have learned how to plant in a garden, put plants in our homes, and grow our own food. We’ve learned to eat a more balanced diet because we have time to cook our meals, and we’ve learned to exercise regularly

The Edsa Skywalk

BusinessMirror A broader look at today’s business

Thomas M. Orbos

STREET TALK

✝ Ambassador Antonio L. Cabangon Chua Founder Publisher Editor in Chief Associate Editor News Editor

T. Anthony C. Cabangon Lourdes M. Fernandez Jennifer A. Ng Vittorio V. Vitug

Senior Editors

Lorenzo M. Lomibao Jr., Gerard S. Ramos Lyn B. Resurreccion, Dennis D. Estopace Angel R. Calso

Online Editor

Ruben M. Cruz Jr.

Creative Director Chief Photographer Chairman of the Board Ombudsman President Advertising Sales Manager Group Circulation Manager

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

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

Tel. Nos. (Editorial) 817-9467; 813-0725. Fax line: 813-7025.

(Advertising Sales) 893-2019; 817-1351, 817-2807.

(Circulation) 893-1662; 814-0134 to 36. E-mail: news@businessmirror.com.ph.

www.businessmirror.com.ph

Printed by brown madonna Press, Inc.–Sun Valley Drive KM-15, South Superhighway, Parañaque, Metro Manila MEMBER OF

and spend more time for self-care.

Hybrid has become a buzzword.

In the time of the pandemic, we have hybrid schooling, hybrid working, and hybrid this and that. It just means that there can be other ways of doing things that are also effective but are friendlier to man and his environment.

All this also means that if we act now, we can save the Earth. The pandemic has the whole world working together to achieve results never before have been achieved. After this, we really can’t go back to how we were and the way we did things. I hope this

E

DSA remains to be the transport and traffic barometer in the country for the simple reason that it is the most congested local roadway, even in these pandemic times. Hence, government interventions such as the number coding, the truck ban, as well as the recent Edsa bus carousel were intended to have vehicles and commuters move faster in this roadway. But one area that is wanting for improvement in this all-important corridor is the plight of pedestrians. Metro Manila Development Authority estimates more than 2 million pedestrians crisscrossing and traversing Edsa daily.

That is more than all the number of Metro Rail Transit (MRT) and bus commuters and all those in their vehicles put together. And for all the impact they have on Edsa mobility, pedestrians remain to be unnoticed and confined to a cramped space that is an excuse for a sidewalk, risking life and limb while competing with vendors and vehicles backing in and out of establishments that had encroached on what is supposed to be a people-space. The government is now given the rare pause—because of this pandemic, to redo and improve Edsa.

It will be good to allocate some of its attention and resources to attend to the plight of this segment of our society utilizing this most basic form of mobility.

One scheme that sprouts every now and then is the building of elevated walkways in this all-important corridor. Similar to the “High Line” in New York or the ones in downtown Kuala Lumpur, Singapore and Hong Kong, the elevated Edsa walkway would allow a safe walkable area despite the problem of limited space on the ground. And we are not just talking about footbridges that just cross Edsa. More importantly are the last mile walkways that intend to ferry people from the main Edsa public transport line to the business districts. Right now, we have but a few, notably the privately built walkway connecting the MRT Ayala Station to the Makati CBD and the local government-private sector initiated

Businessmen, owners, entrepreneurs need to realize that behaviors have to change and operations have to be examined and adjusted for the benefit of the environment and of the people.

Reduce travel, lessen our carbon footprint, transform the office and our ways of working, buy electric vehicles, use clean energy —these changes have to find their way into every organization in the months to come. sinks in with each one of us.

On the other side of the coin, it’s true that economies have suffered because of the pandemic, and too many lives were lost. More people have fallen below the poverty line, and there is a greater threat to the health—physical and mental—of mankind.

But even our losses are an opportunity to learn what we have been doing wrong and how we can make things better in all areas affected— economy and business, health, education, security, labor, and so on.

An elevated walkway would be cheaper and faster to build given the lesser structural tension and space requirements than those meant for vehicles and rails.

Right-of-way issues will also be minimal, as most of these will be built on public property. Budget should not be a problem.

Pasig walkway that is still a work-in progress because of what I hear are some jurisdiction issues.

An elevated walkway would be cheaper and faster to build given the lesser structural tension and space requirements than those meant for vehicles and rails. Right-of-way issues will also be minimal, as most of these will be built on public property.

Budget should not be a problem. A portion of this was already included in the national expenditure as well as part of an ADB loan package some years ago. I also remember an unsolicited proposal during the past administration that would connect the central business districts of Makati and Ortigas where the return of investments will be on the commercial establishments along the way.

There are other benefits. One can look at this being a form of economic stimulus. Formerly underutilized spaces tucked in between establishments can now be viable commercially. Shopping malls can be interconnected, bringing much

From hereon, we need to anticipate that another pandemic could happen anytime and so we must be ready for that.

I have read somewhere that business can and should lead the way towards building a better and more sustainable future. It’s true because business and the economy can indeed make the fastest and most significant impact.

Businessmen, owners, entrepreneurs need to realize that behaviors have to change and operations have to be examined and adjusted for the benefit of the environment and of the people. Reduce travel, lessen our carbon footprint, transform the office and our ways of working, buy electric vehicles, use clean energy— these changes have to find their way into every organization in the months to come.

At this point it is very important to make a commitment to our planet, on an organizational and individual level. Learn the lessons from the pandemic and make a commitment towards sustainability. The crisis is an opportunity being given to us. I hope we don’t waste it.

needed foot traffic to their establishments. In Hong Kong and Singapore, businesses vie for such access, which increases the value of their real estate. Also, a walkway is a good and proven pollution reduction measure, which has a direct correlation with the public health of the populace.

But maybe the greatest benefit would be its impact on people mobility. More than 30 percent of all bus trips on Edsa are short haul trips, meaning less than 5 kilometers. Just think of how much traffic is lessened and trips made faster. I would not mind walking 5 kilometers if there is such ample and safe space for me to walk on. It would be good for my health, for our environment; not to mention possibly a shorter travel time given the traffic that we have.

Maybe it is high time to revisit the Edsa walkway project and rethink the micro-mobility options in that corridor. Maybe we need to make it more exciting in order to make it happen. Having a name of that planned walkway perhaps? The Edsa Skywalk? Whatever it may be, we need to do it now, and the timing with this pandemic is just right. Let’s make it happen.

Thomas “Tim” Orbos is currently a transport policy advisor for an international organization and worked in government on transport and urban development matters. He is an alumnus of Georgetown University and the MIT Sloan School of Management. He can be reached via e-mail—tmo45@ georgetown.edu /thomas_orbos@sloan.mit.edu

Opinion BusinessMirror

www.businessmirror.com.ph

How does procurement digitization boost efficiency in your business?

Marvin Bunyag

DEBIT CREDIT

T

he procurement organization has considerably lagged in the digital revolution, especially for companies in developing countries. With the increasing need for efficiency, transparency, and cost-savings, automating the entire procurement processes will help organizations meet those demands.

Automation goes beyond spreadsheets and software that don’t deliver real-time business insights and collaboration across supply chain stakeholders. A truly digital procurement uses artificial intelligence (AI), blockchain, data analytics, and an intuitive dashboard to generate real-time insights critical to make smart decisions. Further, technology automates manual and repeatable tasks and freeing up time for more strategic activities—delivering optimal value to the business.

So how does digital procurement contribute to business efficiency?

Technology enables traceability through shared data across several stakeholders such as buyers, suppliers, finance, production, etc. It allows you to structure spend to all vendors and track information in real-time in a central dashboard location. The online dashboard provides spend analytics making cost reduction opportunities easy to find. Besides, tracking suppliers’ performance becomes handy which helps increase productivity and savings.

In contrast to the traditional approach, it is difficult to get total visibility of the real-time data you need for informed analysis and decision.

The manual processes involved in the traditional approach do not provide any competitive advantage for your business in today’s digital age.

Automating the procurement process reduces the order cycle time significantly because it eliminates manual documentation, data gathering, and analysis. Also, using technology gives alerts to approving officers allowing them to act timely before the required deadline of the request. There are still many companies today practicing paperbased purchase orders that are sent to approving officers and then to the next stage. The time it takes to go through this routine process creates inefficiencies.

Cost reduction is a primary performance indicator across sourcing activities. With greater visibility of information and data analytics, it is easy to determine cost-savings opportunities by analyzing cost trends, spend categories, or reviewing contract terms.

Having all your transactions in one database makes reporting easy on requisitions, purchases, orders,

A truly digital procurement uses artificial intelligence, blockchain, data analytics, and an intuitive dashboard to generate real-time insights critical to make smart decisions. Further, technology automates manual and repeatable tasks and freeing up time for more strategic activities— delivering optimal value to the business. and invoice payments. You can easily see which departments throughout the business are purchasing and receiving the most products, whether they are staying within the established spend limits, and so on.

The reverse auction is the latest trend disrupting how procurement is done today. It allows buyers to place their orders on the platform and suppliers to offer their prices. Everything is automated and transparent from documentation to placing a purchase order to invoice payment.

Using reverse procurement goes beyond efficiency and cost savings. It helps advance supplier relationships since pricing and negotiations can be done in the context of historical experience and additionally identified opportunities for adding value. Both buyers and vendors benefit from a complete visibility to run a successful and equitable auction. Suppliers have a clear insight into the requirements, and buyers can undertake due diligence on the auctions, seamlessly connecting the dots for all parties involved. There is a platform set up for this. Dealogikal is known for revolutionizing the procurement space in the Philippines through its online commodity marketplace. Dealogikal reported that businesses that are using a reverse auction strategy save up to 25 percent per transaction.

The rapid emergence of shared data platforms and emerging technologies created an opportunity for procurement to speed innovation. It is high time for companies to evolve from manual to automated procurement processes to boost efficiency and profitability.

Marvin Bunyag is an APICS-CPIM certified and a founder of ExploreSCM Supply Chain Insights.

He created SCM Knowledge platform for supply chain learners.

A king who kneels Siegfred Bueno Mison, Esq.

THE PATRIOT

A

lmost every young boy is into firearms—at least the toy type. Bring them to the stores and their interest is instantly drawn to toy guns at a certain point in their childish lives.

Along with this weapon comes the uniform that bespeak of the position, be it that of the police or a soldier. Others take their juvenile liking for guns, and for the authority garb, to adulthood. In their mental topography, firearms as well as a uniform or a badge are associated with power, authority or influence. And of course, such uniform can also be such a magnet for attraction to the opposite sex.

Since I was in a military uniform for 16 years, I came to know that a firearm goes beyond the macho image it organically generates. When I entered the Philippine Military Academy and eventually graduated from the United States Military Academy, I wore the uniform with so much pride knowing what being in the military represents. But the brute and brawn that drew me to an early liking for guns, as well as the uniform and authority that goes with it, soon dissipated with an understanding about the essential values of having guns or being in uniform. I realized all the more what my father and brother previously demonstrated (being forthright disciplinarians in the armed service)—that there is more to guns (or the uniform) than just symbols of force. Truly, being in the uniformed profession like the army, or navy, or air force, can be overrated unless men and women in the military consider their organizations as a service and not just a military force!

The academy taught me a plethora of lessons, such as the value of decency, as explained in a US Army Field Manual (F2 21-13), which entails giving others the same consideration that you would like them to give you. Much as being a gun-brandishing man in uniform has become a status symbol, desired by many, the eminence concept has become hyped or overestimated. So much like the heroes we admire in movies—from James Bond to Fernando Poe Jr., and

even the super-heroes from Captain America or Spiderman are adored by the young and old alike seeing them with a macho image. But as the stories go, these heroes do not wake up each day just to show off power and force in sheer bravado. They have a duty to serve and protect, and a corollary obligation to practice decency.

Together, these key elements form the qualities of servanthood, which can be readily evident when one understands the purpose of having guns!

The same Army Field Manual defines “conviction of purpose” as knowing and believing what you are fighting for—either for the country whose freedoms and principles cannot be bartered for anything, or simply for the service of the people around you.

Simply put, being a soldier is not just a symbol of power and might, but also a pictogram of service.

Recently, we have seen men and women in uniform saving lives at the cost of losing their own. At the height and in the aftermath of the typhoons that ravaged our country like a woman’s wrath, men and women from the Philippine Army, Navy, Air Force as well as from the Philippine Coast Guard, National Police and Bureau of Fire Protection braved the heavy rains, floodwaters, even lack of sleep and exposure to illnesses just to rescue families stranded atop their roofs, or deliver life-saving supplies, or gather displaced individuals into safety. Soldiers, sailors, policemen, and firemen alike, did not have to

A

little over a week ago I wrote that oil producers need a mechanism allowing them to respond quickly to changes in the oil market that could be both big and fast. I’m pleased to see that’s what they’ve tried to create, even if it isn’t quite what I had in mind.

My colleague Alaric Nightingale suggested the Opec+ alliance should assemble a small SWAT team that could take swift, tactical action. Instead, it has decided to mobilize its entire army as the rapid-response unit.

It did so at the end of another week of fractious meetings, which concluded with a signature Opec+ compromise that its 23 members could all sign on to. The group, which includes Saudi Arabia, Russia, Iraq and the United Arab Emirates, agreed to raise its collective

output by 500,000 barrels a day from January 1.

So far, so good. It wasn’t the three-month delay to raising output that markets had been expecting, but neither was it the imminent return of 1.9 million barrels a day envisaged under the deal struck in April. Then came the kicker: For the foreseeable future, the oil ministers will meet during the first week of each month to decide on subsequent action—all 23 of them. This after they’d only just shown us how unwieldy that can

flex their muscles as most powerful people do. Instead, they chose to get wet and muddy and soiled if only a child can be transferred to a warmer shelter, or an elderly can be assisted walking into a secure environment, and a family can survive the day with a kilo of rice and some cans of sardines. Images of rescue and relief operations, then and now, exhibit the value of service over force. In a string of occasions, these men and women in uniform did not exhibit their power and might. Instead, they opted to “kneel” and be of help on account of service.

We do not have to be in uniform to be of service to others. Many will forever remember Gina Lopez, the lady trooper from an affluent family with a thriving media business.

Decidedly, she had all the resources that could have been utilized in authority or “force”—akin to a soldier’s or policeman’s uniform, gun, and badge. But Gina Lopez trekked the path of service, choosing to extend a helping hand, and a heart, for children in need or in distress.

Instead of using her affluence to sip expensive cups of coffee or glasses of wine, Gina also went to remote areas in our country, understanding and protecting our environment for the sake of the people who stand to gain from it. Notwithstanding her crippling illness of cancer, she vigorously proceeded with her advocacy of service impacting as many lives as she could, her principle being: “One plus one equals one thousand.”

Conspicuously then, we can be “kingly” with our positions of authority, be it in the military or even in our humble ways as citizens when possessed with influence. The resources at our disposal, money or guns, position or ammunition, are not meant to be exploited as a means to showcase might or force. These resources should be used with much decency and purpose realizing that a guncarrying policeman cannot simply show off in any community to prove that he can shoot and kill anyone.

At the very least, decency dictates prudence before the use of violence, reading of the Miranda rights before any arrest, treatment of persons in custody with respect just like how he

PHL takes step to protect children

T

By Carlos H. Conde

he House of Representatives took an important step this week to protect children with the passage of a bill raising the age of sexual consent from 12 years, one of the lowest in the world, to 16. The proposed legislation, which must still pass the Senate to become law, will make it a crime for any adult to have sexual contact with a child under 16, but adopts an important exemption to avoid criminalizing consensual sexual activity among children who are close in age.

The House bill was passed overwhelmingly on December 1 with 207 votes in favor and 3 against. The Senate’s pending counterpart bill is also expected to pass, and President Duterte’s allies in Congress are confident that he will sign the mea-

sure into law. The law would repeal harmful provisions of the country’s Revised Penal Code and the 1997 Anti-Rape Law, which allow an adult to claim sex with a child aged 12 or older was consensual.

Apart from raising the age of con-

Opec+ needed a SWAT team, it got 23 battalions

By Julian Lee | Bloomberg Opinion

Monday, December 7, 2020 A11

get. Let’s hope this doesn’t become a roadmap for these new monthly powwows.

Monday’s virtual gathering of the 13 Opec ministers broke up without agreement, the bigger Opec+ meeting was delayed by two days and then by another two hours as the start time approached. The intervening days and hours were used for a sort of virtual shuttle diplomacy to try to find a deal everyone could accept.

When the full Opec+ meeting finally did get underway on Thursday, it was chaired alone by Russia, long an Opec foe until recently. Saudi Arabia’s Energy Minister Prince Abdulaziz Bin Salman had made good on his threat to relinquish co-leadership of the group. But there’s more than one way to read that decision. Either as the petulant reaction of a man who couldn’t get his own way, or as a deft

diplomatic move to create the environment needed to ease tensions and allow a compromise to be reached.

The prince is a seasoned diplomat who’s been credited with orchestrating many past Saudi successes at Opec as assistant oil minister under both Ali Al-Naimi and Khalid Al-Falih. I prefer to believe his action was intended to help reach an agreement, especially given Saudi Arabia had really wanted to delay any increase in production targets.

The whole week was an intricate, exhausting song and dance. The prince himself characterized it as “very excruciating.” It seems unimaginable that they really want to subject themselves — and oil markets — to that every month. They would have done better to devolve the monthly adjustments to a smaller group of members, perhaps using

himself wants himself to be treated.

The value of servanthood ought to make people with power to kneel in humility, to serve others from the heart, with decency and respect, by removing biases and ill motives in the performance of their duties.

To kneel from a “kingly” position is to demonstrate the virtues of humility, decency and conviction of purpose, just like how the greatest servant leader in our history, Jesus Christ, did while here on Earth. The Son of our Almighty God, while he had dominion and authority over all, yet, as the Bible tells us through Matthew 20:28, exercised humility and served the sick, the needy, the desperate, thus: “Just as the Son of Man did not come to be served, but to serve, and to give his life as a ransom for many.” We likewise find in John 13:1-17 how Jesus showed the disciples an example of being a true servant, despite his royalty: he knelt down and washed the feet of his disciples, hence, in verses 4-5 of the same Chapter 13, “so he got up from the meal, took off his outer clothing, and wrapped a towel around his waist. After that, he poured water into a basin and began to wash his disciples’ feet, drying them with the towel that was wrapped around him.”

The significance of a king kneeling down to wash his disciples’ feet cuts through the core of servanthood.

We can all learn to lead from The King who kneels such that donning a “uniform” or carrying a “firearm” of power, pride, influence or authority can easily convert one person to a king. But along with this “kingly” sovereignty comes the values of decency and purpose, understanding that we must lead to serve and not be served.

A former infantry and intelligence officer in the Army, Siegfred Mison showcased his servant leadership philosophy in organizations such as the Integrated Bar of the Philippines, Malcolm Law Offices, Infogix Inc., University of the East, Bureau of Immigration, and Philippine Airlines. He is a graduate of West Point in New York, Ateneo Law School, and University of Southern California. A corporate lawyer by profession, he is an inspirational teacher and a Spirit-filled writer with a mission.

For questions and comments, please e-mail me at sbmison@gmail.com.

sent and the “close in age exemption,” the proposed law also provides equal protection for rape victims of both genders and eliminates a provision in the Revised Penal Code that extinguishes the crime of rape if the offender offered marriage.

The proposed law is important because the Philippines has the lowest age of consent in Asia and one of the lowest in the world, according to UNICEF. This inappropriately low age for statutory rape has facilitated sexual violence against children, both in person and online.

Increasing prevalence of sexually transmitted diseases among children, particularly HIV/AIDS, and high rates of pregnancy point

to the need for the new law to be complemented by a stronger effort to ensure that all children receive comprehensive sexuality education in age-appropriate ways, from an early age, and have access to information, services, and supplies that make sex safer and can help avoid unplanned pregnancy.

Filipino children face tremendous challenges due to poverty, neglect, and rights-abusing government policies. The enactment of this law will be an important step forward that should be part of a broader effort to protect children’s health and safety.

the existing structure of the Joint Ministerial Monitoring Committee, a group of seven ministers that oversees the Opec+ accord but currently has no power to make policy.

There would of course be howls of protest that output levels are sovereign decisions that shouldn’t be given up, but the SWAT team’s mandate could be very tightly worded along the lines of the deal they just struck. Its monthly meetings would serve to examine market conditions and decide the following month’s production target, which would be applied on a pro-rata basis with a maximum change in either direction of 500,000 barrels a day.

An automatic sunset clause could end the arrangement when the total volume added to supply reaches 2 million barrels a day, the amount originally at stake in April’s accord.

It’s not as if Opec doesn’t have

form. Back in March 2000, the group introduced the automatic price band mechanism, which triggered changes of 500,000 barrels a day in overall output quotas when prices strayed outside a $22-$28 a barrel range on a 20-day average basis.

These are exceptional times.

Oil demand could move rapidly in either direction depending on the impact of the coronavirus, the need for lockdowns and the relief provided by vaccines. This unpredictable landscape will call for unusual nimbleness on the oil producers’ part. While Opec+ has in a sense heeded my call (we can all dream), it remains to be seen if the solution will really produce the rapid response required, or leave the group bogged down in one fractious meeting after another.

Tune in next month and every month thereafter to find out.

The author is a senior researcher at the Asia Division of Human Rights Watch.

A12 Monday, December 7, 2020

House leaders urged: Adopt Senate version of CREATE

By Jasper Emmanuel Y. Arcalas

H

@jearcalas

OUSE Ways and Means Chairman Joey Sarte Salceda has asked the leadership of the chamber to adopt the Senate version of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act to avoid having to convene a bicameral conference committee and formally send the measure cutting corporate income tax to President Duterte for his signature.

Salceda said he has formally asked House Speaker Lord Allan Velasco and Majority Leader Ferdinand Martin Romualdez to adopt the Senate version of the CREATE Act “as an omnibus amendment to the House version.”

In a statement over the weekend, Salceda said, “The House adoption

will mean that there are no disagreeing provisions between the two chambers, and formally send the final version straight to the President for his signature.

His aide memoire of December 4 noted the bill is “an urgent measure by President Duterte, and has been a top priority of his adminis-

tration from the very beginning of his term.”

He added, “In conversations with the economic managers in March and April, this representation pushed for several commitments towards Covid-19 economic recovery that have since materialized.”

These commitments “include but are not limited to the incremental P300 billion for infrastructure in the 2021 budget on the demand side and faster corporate income tax [CIT] reduction on the supply side,” he said.

“We particularly recommended at least a 5-percent across-theboard CIT cut for all resident corporations, which has since been reflected in the Senate-approved version of CREATE,” he added.

Salceda said the current Senate version already reflects the amendments proposed by the Executive branch that “helped” in moving “the needle towards approval.”

Simpler, fairer

Once signed by the President, CREATE will implement a 10 percent corporate income tax cut for corporations making P5 million and below in net taxable income, and a 5-percent reduction for all

other corporations.

Salceda said the reform “modernizes the tax incentives regime to make it simpler, fairer, and more efficient.”

The other economic recovery reforms, including FIST and GUIDE, are just there “to calm the fears of the market,” Salceda said. “CREATE will be the necessary boost to get the market to be more aggressive.

We need aggressive investment in 2021. Otherwise, the economic impacts of Covid-19 will be deeper and more lasting,” Salceda added.

The House economic recovery panel cochairman also said CREATE offers the opportunity for a Bayanihan III as it allows “supplyside tax cuts with demand-side interventions such as typhoon relief.”

He clarified he is “still pushing for Bayanihan III. But I want CREATE done now.”

The House can approve the CREATE bill on Monday as there are no more possible objections or delays to the measure, he said.

“The President’s supermajority coalition in the House has delivered on its commitment to pass its version swiftly before, and now has the chance to deliver the final, decisive action that will carry the reform to enactment as law,” he added.

‘ENERGY FUTURE MUST BUILD ON SHIFTS IN ENERGY LANDSCAPE’

By Lenie Lectura

E

@llectura

NERGY industry stakeholders are pushing for energy independence to improve the country’s growing need for a stable and efficient energy supply.

In a recent Energy Smart Forum, which focused on the theme “Improving Efficiency in the Energy Generation and Distribution Sectors,” Senator Sherwin Gatchalian, Senate Energy Committee chairman, pointed to the shifting landscape in terms of energy.

He observed that at the onset of the pandemic, oil prices crashed to negative levels. “Big oil” around the world, he said, is transitioning to other forms of energy, specifically renewable energy (RE). “This is a signal that the long-term choice for energy will not be oil and gas but technologies in the renewable space,” Gatchalian said. “This is a signal that big oil is moving to big RE.” Government, he said, is implementing and crafting essential laws that will help drive the transition from fossil fuels to RE

Bower: PHL will be focus of attention in Biden administration

By Recto Mercene @rectomercene

T

HE Philippines—because of its strategic location—would be a focus of attention by President-elect Joe Biden’s administration, as it gives priority to socioeconomic and security concerns in the Asia-Pacific region.

This is the prediction by Ernie Bower, who chairs the Advisory Board of the Center for Strategic and International Studies (CSIS), in a recent virtual forum.

Bower, president and CEO of Bower Group Asia, was guest speaker at the Pilipinas Conference 2020 organized by Stratbase Albert del Rosario Institute. “Diplomacy is back, there’ll be more investment in process and understanding and diplomacy, and I think this’ll be a more productive process,” he said.

“You’ll see a return of middle management in US engagement in Asia, and what I mean by that is US departments in Asian agencies will have an assistant and undersecretaries, deputies, assistant secretaries empowered to focus on Asia, including the Philippines and Asean.”

Bower’s forecast is an echo of Yukon Huang’s prognosis that the Philippines will find itself getting more attention “politically and economically” from the incoming Biden administration than what it got from President Donald Trump.

Speaking at the Global Media Webinar on the impact of the just-concluded US elections on the Philippines and the region, Huang, a former World Bank official, said Biden will most likely see the “major role” that the Philippines can play as the new US administration forms stronger alliances with countries in East Asia and Southeast Asia.

“It’s a combination of chance, political pressures, and economic roles [that] gives the Philippines a good opportunity to move ahead in a very positive way in the coming period of time. This is going to be potentially a Philippine period in the next decade,”said Huang, currently a senior fellow in the Asia Program of the Carnegie Endowment for International Peace said.

Economically, Huang pointed out that the Philippines is the next logical place in Southeast Asia for the so-called “manu-

facturers from China out” to expand and build their capacity in place of Vietnam.

“Vietnam’s capacity is more or less used up. The next logical place to build a capacity to diversify is the Philippines.

I think you’ll find yourself politically and economically getting more attention from the Biden administration than you got from a Trump administration,” he said.

He stressed that there is no other place in Southeast Asia where manufacturing could go to strengthen its regional supply centers except for the Philippines due to its good labor force, its willing people, its language capacity, and its “very receptive” culture.

Bower, on the other hand, said the Biden administration would also promote multilateral cooperation, including on health issues. “Think less transactional, more procedural. Chief among this area will be multilateral cooperation and coordination in the healthcare sector, specifically in the worldwide effort to manage the devastating impact of the Covid-19 pandemic.”

He said that under the Biden administration, there will be “more Asean centrality, less America-first,” and “the US will look to build teams and coalitions, cooperate, and not pursue American-only strategies.”

Bower said a multinational effort to address climate change would also rank high on Biden’s agenda, while on trade policy, he said, “it will be more diplomatic, less focused on deficits, less transactional, and more focused on worker’s rights, human rights, the environment, and social issues.”

Stratbase Albert del Rosario Institute president Dindo Manhit said the excessive focus placed on the strategic competition between the US and China has undermined the role of other states in the region.

“From a broader perspective, these are two powers within a regional system made up of middle to smaller powers whose stake and interests are just as substantial,” he said.

“The Indo-Pacific states have an equal, if not greater, impact on how the regional order will be shaped because of their significant political, economic, military, and sociocultural power,” Manhit added.

faster. Among these are Republic Act (RA) No. 9153 the Renewable Energy Act of 2008; RA 11285, the Energy Efficiency and Conservation Act; and Senate Bill (SB) No. 1382, the Electric Vehicles and Charging Stations Act. “The potential for RE is vast,” with a 31,000-megawatts (MW) capacity “that can power the country for next 15 years,” he added.

Aboitiz Power Corporation President Emmanuel Rubio named two important things in harnessing RE in order to bring about economic growth. The first is the creation of sound policies that will bring about investment, improve the supply chain, and upgrade the existing infrastructure. “Policy is the framework of energy industry. It is the primary governing law that dictates how everything works and how things flow from our sources of renewable energy,” he said.

The second mode is anchoring the march towards progress on a digital ecosystem. Aboitiz Power currently has a capacity of 4,300 MW, allowing them to address the 600 MW to 700 MW base demand in new capacity requirements.

Continued on A4

DOST-SEI assures scholars of stipends’ timely release

T

HE Science Education Institute (DOST-SEI) of the Department of Science and Technology reiterated its assurance to the public on its continued commitment to ensure the safety and welfare of its scholars, specifically in the timely disbursement of stipends and other scholarship funds, amid the current Covid-19 pandemic.

At the same time, the DOST-SEI announced in a statement that the stipends for the current undergraduate and graduate scholars “were already released in full in the latter half of this year” and it is “working for the prompt release of stipends for new scholars within the coming months.”

The DOST-SEI assurance came after some graduate scholars complained that they have not been receiving their stipends and allowances on time, if they are not slashed.

The agency, led by Director Dr. Josette Biyo, said it is “looking at ways to help our scholars receive funding in a more timely manner given the adjustments and concessions that universities have had to undertake in the wake of the pandemic.”

The statement said: “We recently consulted with the various universities under the National Science Consortium [NSC] toward revisiting our existing policies and revising these where possible so as to help our scholars better cope with these trying times.”

It said it is “revisiting our policies on the disbursement of funds” to better provide for the scholars’ needs above and beyond the demands of the classroom, which is an urgent concern, specially with the demands of research.”

The DOST-SEI added, “The unusual circumstances of the ongoing pandemic have necessitated major changes and adjustments across all sectors of society.

“It behooves us to join hands with our scholars and stakeholders in working through this temporary period of upheaval and uncertainty.”

While it is making adjustments, the agency said “we look forward to improving our services through constant dialogue with the NSC, our scholars and stakeholders.”

www.businessmirror.com.ph

Companies BusinessMirror

Monday, December 7, 2020

B1

Meralco: Slump in demand may cut Dec power rates

By Lenie Lectura

T

@llectura

HE Manila Electric Co. (Meralco) said Sunday that a drop in electricity demand could lead to lower generation charge this month.

The company hinted at the possibility that the electricity rate for December may go down as generation charge makes up the bulk of the monthly power bill of consumers.

“Initial data suggests slightly lower generation costs for December due to a decrease in demand,” said Meralco Spokesperson Joe Zaldarriaga said.

He said the recent typhoons

Quinta, Rolly, and Ulysses damaged transmission lines while several large plants went on forced outage. A cooler weather and the damaged power facilities led to a decrease in electricity demand.

While this happened, electricity spot market prices reached P20 per kilowatt hour (kWh) and P22/ kWh on October 27 and 28, respectively. However, the Wholesale Electricity Spot Market (WESM)

was suspended by the Energy Regulatory Commission (ERC) from November 12 to 13. Thus, WESM prices may not be affected by the increase in plant outages due to the typhoons.

“Note as well that Luzon grid demand in November decreased due to occurrence of the weather disturbances. From October 2020’s peak demand of 10,344 MW, November 2020 peak demand decreased to 9,886 MW. In sum, the effect of more plant outages seems to be offset by a decrease in demand, so generation costs appear on a downward trajectory,” Zaldarriaga said.

The overall power rate decrease since the start of 2020 has reached P1.35 per kWh. “We still expect the power rates this year to be sig-

nificantly lower than that of the previous year, especially given the projected flattish or even lower rate movement in December,” he added.

Last month, Meralco rates declined to P8.5105 per kWh from October’s P8.5500 per kWh. This is equivalent to a decrease of around P8 in the total bill of residential customers consuming 200 kWh. This was brought about by a lower generation charge, which stood at P4.2018 per kWh from P4.2233 per kWh in October. The decline in the generation charge was mainly due to the P1.2800 per kWh reduction in charges from the WESM. Meralco, meanwhile, assured its customers that it will not implement any disconnection on account of nonpayment of bills until December 31.

SNAP to proceed with solar project S N Aboitiz Power-Magat (SNAPMagat) is proceeding with its plan to put up a 67-megawatt (MW) floating solar power project over the Magat reservoir.

The company has secured board approval “for the project to proceed to engineering design for 67MW,” Aboitiz Power Corp. said in its report.

SNAP is a joint venture between SN Power AS and power firm Aboitiz Power.

It said that the planned 67MW has undergone an initial prefeasibility study. The results of which have shown “positive results” and the company is now conducting a feasibility study to validate the initial results and confirm the viability of a commercial-scale project, which may have a capacity of 67MW or higher.

The feasibility study is expected last for about 10 to 12 months. The project cost could be determined

after the results of the study are out.

The new floating solar project will also be placed on the Magat reservoir.

It can be recalled that SNAP switched on its first 200 kilowatt floating solar project over the Magat reservoir in Isabela in June last year.

This was the first non-hydro renewable energy project of SNAP, whichwaslookingatotherrenewables and complementary technologies to expand its portfolio. SNAP said the

floating solar project has proven its viability, both technical and commercial.

The 200kW floating solar project, which costs around P24 million, is made up of 720 solar panels held in place by four mooring systems over the reservoir in Isabela.

The company partnered with Ocean Sun, a Norwegian floating solar technology provider, for the project. Lenie Lectura

Vivant eyes Subic BPO to step up Covid-19 measures ₧3B from bond offer

By Henry Empeño Correspondent

By VG Cabuag @villygc

C

EBU-BASED Vivant Corp. said it signed a deal to float fixed-rate corporate notes worth P3 billion with tenors of two years and five years.

The issuance was arranged by First Metro Investment Corp., the company said.

Vivant appointed Metropolitan Bank and Trust Co.-Trust Banking Group as the notes facility agent.

“The proceeds from the issuance of the notes will be used to finance capital expenditures for existing assets and investments in power generation and/or water infrastructure projects and partly to refinance the existing seven-year fixed rate corporate notes maturing in February 2021,” the company said.

Arlo A.G. Sarmiento, the company's executive vice president, said the company will remain a niche player in the power sector, and will not compete head-on with the likes of Aboitiz Power and San Miguel Corp.

“But we see pockets of opportunity, such as the water sector in Cebu [province],” he said.

Sarmiento said the company hopes to bring the water desalination plant that it will use in Cebu. He said the capacity will be between 20 to 30 million liters a day, which may cost between P1.5 billion to P3 billion to construct, depending on the size of the plant.

The water desalination process is one of the most expensive ways to treat water and, as such, it is only being used in parched lands.

Metro Cebu, which has grown so large over the years, is experiencing annual water shortages that start as early as January and lasts throughout the summer season.

Last year, the company established Watermatic Philippines Corp., a joint venture of Vivant and its Israeli partner, Watermatic International Ltd. Vivant’s 60 percent owned subsidiary specializes in providing solutions for water treatment for a 13 variety of needs including for industry, drinking water, and agriculture. Its services include the design, engineering, construction, installation and operations and maintenance of water and wastewater treatment systems.

S

UBIC Bay Freeport—Buwelo BPO Solutions, the call center operator in this Freeport which made news recently when 25 of its employees tested positive for Cov id-19, has pledged to implement more measures to keep the virus at bay.

Pointing out that transmission has been contained within the identified cluster of workers who are already quarantined, Kevin Charles, the firm’s chief op e r at i ng of f icer, s a id i n a statement Friday that they will implement “localized lockdowns” that would involve stag gered pa r t i a l c losu re of of f ices i n the firm’s three-level business process outsourcing (BPO) facility at the Subic Gateway Park here.

Buwelo will also allow some of its more than 700 workers t e mp or a r y w or k- f ro m - ho me arrangements to further minimize hea lt h r i sk s, a nd u nder t a ke top-to-bottom disinfection of company premises.

As of Friday, Charles said 26 Buwelo employees have been confirmed to be infected with the virus out of the 65 that previous contact-tracing had identified to have been possibly exposed.

Of the 26 confirmed cases, only 21 remain active, he said, as three have already completed the 14day quarantine period while two have taken repeat swabs which yielded negative results.

Charles also said 37 of the 65 workers under quarantine have tested negative outright. Among these are three positive cases that cannot be linked to the positive clusters in the company, he added.

The company CEO said it was unfortunate that some Buwelo employees got infected, as the firm has been dutifully meeting all requirements of the Inter-Agency Task Force for the Management of

PLASTIC barriers separate workstations at the Buwelo BPO Solutions office in Subic even as workers are seated one workstation apart to help prevent virus transmission at the workplace. HENRY EMPEÑO

Emerging Infectious Disease, the Department of Health, and other concerned government agencies. “ This is one thing that we have been fervently praying not to happen all throughout these months since the world was hit by the Covid-19 pandemic,” Charles said. “Since the Covid-19 pandemic started, we have implemented stringent measures to keep our workplaces safe."

In an inter v iew w ith local r ad io st at ion s on Sat u rd ay, Buwelo operations manager Peter Liwanag said health protocols were a lready in place at the company since the pandemic broke out.

He said Buwelo offices are e qu ip p e d w it h a n adv a nce d ozone-generator system to purify air in work areas, and that plastic barriers have been installed to isolate individual workstations even as their call center agents are now seated one workstation apart.

He added that the firm has hand sanitizers and temperature scanning at facility entrance, and that the firm regularly released information on Covid-19 safety protocols to its employees.

Despite keeping the virus at bay for 8 months, Charles said

Covid-19 was able to penetrate the workplace when some employees d id not re por t t he i r he a lt h condition and went to work even when they were already exhibiting mild Covid-19 symptoms.

He added that two workers who attended parties in Olongapo a nd Za mba les, wh ic h hea lt h officials said are the likely source of exposure, did not also inform the company about the gatherings they joined.

“We did all that should be done within the bounds of our employer-employee relationship.

But (there is a) boundary between our business relationship and their private lives,” Charles said.

To f u r t he r he l p a f fe c t e d employees, C h a rles sa id t he company provided shouldered half of the cost of their swab tests and also paid the salary of all employees who were advised to undergo quarantine.

Charles also reiterated the company’s commitment to the safet y and the wel l-being of its employees and e x pressed t h e B u w e l o m a n a g e m e n t ’s appreciation to the Subic Bay Metropolitan Authority for its handling of the Covid-19 cases in the Subic Bay Freeport Zone.

Senators to grill telcos on tower construction

By Butch Fernandez @butchfBM

& Lorenz S. Marasigan @lorenzmarasigan

I

T’S almost Christmas and President Duterte might make a call to Bethlehem soon to check if telco services in the Philippines have improved since he threatened the two incumbent telco players of a government take over should they fail to provide proof of improved services

by December.

Senators sitting in the Committee on Public Services are poised to grill telecommunication officials at Monday’s Senate hearing to get updates on their compliance with an earlier government directive to put up more connection towers to improve telco services.

Sen. Grace Poe, its chairperson, indicated the panel is also keen to “ensure that the daily operations are manned by competent and knowledgeable people to provide reliable, accessible and affordable connection," even as the Duterte government "puts the screws on the telcos to erect more towers and needed infrastructure all over the country.”

In a statement issued on the eve of the hearing, Poe signaled the panel's intent to get an updated report on the telcos’ compliance with government’s directive to accelerate the construction of cell towers, to include far-flung areas.

She recalled that a remedial legislation, called "The Bayanihan to Recover As One Act" or Bayanihan 2, had waived several permit requirements for the telcos to allow them to hasten the construction of cell towers.

"We will ask them how many cell towers have they built this year?" says Poe, adding: "are these sufficient? Because, as of now it appears we are still short of the 50,000 cell towers needed to improve the service. How many towers have they built?"

At the same time, the Senator indicated the panel is likewise keen to scrutinize the application of Dito Telecommunity Corp., the third telco player, for another 25-year franchise.

Poe indicated the committee will require "an update on the earlier commitment of Dito to deliver a minimum internet speed of 27 mbps and to provide services to certain unserved and underserved areas in the country."

"We want any telco to succeed in giving satisfactory service, because if they do so, we all benefit from it. But if they don’t, we are not doing our responsibility and duty if we grant their franchise," Poe said in Filipino.

‘At full throttle’

OVER the weekend, PLDT Inc. and Globe Telecom Inc. recounted their accomplishments to prove that they were able to improve their services since Duterte’s tirade in July.

"The PLDT-Smart network expansion went full throttle this year, in response to the surge of demand for connectivity and data. It was not easy, but we managed to set all systems in motion to enable us to expand the reach and capacity of our fixed and wireless networks across the country amid the challenges brought about by the pandemic," Alfredo S. Panlilio, Smart Communications Inc. President and CEO and PLDT Chief Revenue Officer, said.

He reported that the telco group was able to accelerate the rollout of both fixed and wireless networks despite the limitations and restrictions required by the pandemic.

To date, he said PLDT’s fiber infrastructure spans 422,000 kilometers, making it the most extensive in the country. This, Panlilio explained, supports Smart’s mobile network, which cover 94 percent of the population with over 58,000 4G and 3G base stations, as well as 313 5G base stations.

Its home broadband business has also reached 8.7 million homes.

Globe President Ernest L. Cu, for his part, said Globe is on track to complete the construction of 1,300 new cell sites by the end of 2020. The builds include sites, such as Lanao del Sur, Sultan Kudarat, Antique, Iloilo, Leyte, Palawan, Aklan, Maguindanao, Cotabato, Misamis Oriental, and Davao del Oro. He added that Globe is building 600,000 broadband lines this year, which is 55 percent more than 2019, as a response to the growing demand for home Internet connectivity.

Globe has also upgraded 708 of its sites to 5G, making the service available in 17 cities in Metro Manila, Visayas, and Mindanao. It targets to cover 80 percent of Metro Manila with 5G by yearend.

“With the country’s improving state of overall Internet service in terms of speed, affordability, and access to a more advanced 4G and 5G technology, coupled with the strengthened support from the government, we are optimistic that the country's state of connectivity is well on its way to be at par with our Asian neighbors,” Cu said.

Collectively, the two telcos are spending roughly P120 billion in capital expenditures this year: P70 billion for PLDT and P50 billion for Globe.

Both telcos also affirmed their commitments to continue investing in new technologies to further improve the quality of Internet in the Philippines.

B2

Companies BusinessMirror

Monday, December 7, 2020

PSE STOCK QUOTATIONS

December 4, 2020

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

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

44.3 44.75 45 45 44.5 44.5 108.1 108.4 107.5 108.6 106.7 108.4 83.9 84.15 84.2 85.2 82.2 84.15 25.9 26 26.1 26.1 25.8 25.9 11.46 11.48 11.66 11.7 11.46 11.48 50.95 51 50.9 51.75 50.7 51 19.9 20.95 19.9 20 19.9 19.9 30.3 30.4 31 31 30.15 30.3 53.05 53.55 53.55 53.55 53 53.55 18.94 19 19 19.44 18.9 19 133.9 134 131.8 137.4 131 134 65.45 65.55 65.45 65.55 65 65.55 0.9 0.96 0.96 0.96 0.96 0.96 27.6 28.2 28.2 28.2 27.5 28.2 0.62 0.64 0.63 0.63 0.61 0.61 3.78 3.85 3.8 3.85 3.78 3.85 6.98 8 6.98 6.98 6.98 6.98 1.3 1.39 1.35 1.41 1.3 1.39 0.34 0.35 0.34 0.34 0.34 0.34 760 797 788 788 788 788 0.65 0.66 0.65 0.65 0.65 0.65 156.8 157 158 158 156.7 157 1,916 2,010 2,080 2,080 2,020 2,020 1.03 1.1 1.1 1.1 1.1 1.1

3,000 134,750 67,500 6,711,880 724,055,141 78,264,920 4,062,800 340,839,154 51,848,099 25,700 667,430 -2,700 991,100 11,444,676 -5,630,050 6,237,210 318,510,483 32,276,006 101,900 2,027,850 757,000 23,074,740 -14,515,510 1,510 80,442.50 245,700 4,688,654 306,040 2,066,480 276,646,890 137,132,787 9,140 595,459 -652 13,000 12,480 8,700 242,850 -77,700 3,000 1,850 83,000 315,730 1,000 6,980 157,000 211,120 100,000 34,000 10 7,880 150,000 97,500 32,110 5,043,742 -1,321,215 25 51,140 8,000 8,800 -

INDUSTRIAL AC ENERGY 6.29 6.3 6.27 6.3 6.16 6.3 10,466,200 65,500,842 1,956,438.00 ALSONS CONS 1.41 1.42 1.44 1.44 1.41 1.42 964,000 1,367,750 ABOITIZ POWER 26.85 26.9 26.95 27 26.7 26.85 3,076,000 82,574,445 -27,669,695 BASIC ENERGY 0.315 0.32 0.335 0.34 0.315 0.315 49,120,000 15,812,950 543,850 FIRST GEN 27.8 27.9 28.15 28.6 27.7 27.8 1,230,300 34,258,380 -9,106,605 76.55 77 77 78 75.65 76.55 168,100 12,941,141.50 -4,567,219 FIRST PHIL HLDG 294 295 296 300.4 294 295 196,500 58,209,592 -8,210,604 MERALCO 15.52 15.6 15.56 15.86 15.44 15.52 3,401,400 52,823,060 10,973,914 MANILA WATER 4 4.03 4.05 4.1 4 4 7,329,000 29,420,220 -2,222,700.00 PETRON 3.45 3.46 3.36 3.5 3.36 3.46 70,000 239,560 PETROENERGY PHX PETROLEUM 12.7 12.78 12.86 12.86 12.64 12.78 36,700 469,714 PILIPINAS SHELL 21.3 21.4 21.2 21.6 21.05 21.3 10,980,300 232,404,505 -201,164,025 SPC POWER 10.78 10.8 10.58 10.8 10.58 10.78 342,400 3,650,150 25,620 VIVANT 13.82 14.18 14 14.24 13.82 14.24 3,100 43,154 AGRINURTURE 8.5 8.54 8.35 8.6 8.34 8.54 582,300 4,909,928 -2,524,965 3.74 3.75 3.49 3.76 3.48 3.74 5,777,000 20,993,400 -625,050 AXELUM 14.9 15 15.3 15.3 15 15 21,500 323,950 CNTRL AZUCARERA CENTURY FOOD 17.54 17.58 17.7 17.7 17.42 17.58 5,094,200 89,220,572 -8,359,442 6.1 6.18 6.07 6.1 6 6.1 103,100 624,461 DEL MONTE DNL INDUS 7.15 7.16 7.1 7.17 7.1 7.15 2,668,500 19,059,083 -62,096 EMPERADOR 10 10.02 9.98 10.02 9.83 10.02 2,574,600 25,683,323 582,337 SMC FOODANDBEV 68.3 68.5 69 69 68.2 68.5 81,430 5,576,626 63,312.50 ALLIANCE SELECT 0.67 0.68 0.69 0.69 0.67 0.68 454,000 308,240 FRUITAS HLDG 1.65 1.66 1.53 1.67 1.53 1.66 76,989,000 122,156,380 -751,300 52 52.1 49.95 52.25 49.95 52.1 133,060 6,870,237.50 4,647,322 GINEBRA 206 206.4 204.8 207.2 202.4 206.4 1,116,580 228,791,110 20,548,188 JOLLIBEE 58 58.1 59 59.9 58 58.1 15,840 923,822 31,950 LIBERTY FLOUR 8.18 8.8 8.13 8.84 8.13 8.84 1,800 15,496 MACAY HLDG MAXS GROUP 8.05 8.1 8.1 8.18 8 8.1 592,800 4,795,834 167,277 MG HLDG 0.172 0.18 0.172 0.172 0.172 0.172 140,000 24,080 SHAKEYS PIZZA 8.55 8.56 8.66 8.66 8.4 8.56 102,500 870,994 -17,000 ROXAS AND CO 1.35 1.36 1.36 1.36 1.33 1.36 2,844,000 3,816,560 -119,980 RFM CORP 4.65 4.7 4.66 4.7 4.66 4.7 17,000 79,780 -56,400 ROXAS HLDG 1.82 1.87 1.85 1.9 1.76 1.87 34,000 62,880 0.115 0.117 0.118 0.118 0.117 0.117 50,000 5,880 -3,540 SWIFT FOODS 143 145.8 148.5 148.5 143 143 678,900 98,329,868 -23,033,499 UNIV ROBINA 1.02 1.03 1.05 1.05 1 1.03 18,109,000 18,505,250 -14,700 VITARICH 2.55 2.56 2.55 2.55 2.55 2.55 5,000 12,750 VICTORIAS CONCRETE A 53 57 52.55 58 52.5 58 600 32,396 CONCRETE B 55 58 59 60 58 58 800 47,467.50 CEMEX HLDG 1.68 1.71 1.7 1.71 1.67 1.71 6,394,000 10,783,380 -1,166,820 DAVINCI CAPITAL 5.1 5.2 5.3 5.3 5.05 5.2 40,000 207,220 EAGLE CEMENT 15 15.02 15.02 15.04 14.9 15.02 375,900 5,645,570 15,040 7.88 7.9 7.9 8.1 7.85 7.88 302,800 2,395,040 206,575 EEI CORP 6.88 6.89 6.92 6.92 6.78 6.89 1,349,200 9,245,757 504,492 HOLCIM 9.29 9.3 9.11 9.35 9.11 9.29 5,459,100 50,475,951 2,186,989 MEGAWIDE 8.6 9.15 9.16 9.2 9.15 9.2 21,400 196,076 PHINMA TKC METALS 0.85 0.86 0.85 0.87 0.83 0.86 305,000 258,600 VULCAN INDL 1.27 1.28 1.3 1.36 1.26 1.28 11,473,000 14,872,220 63,600 CHEMPHIL 140 148 159 159 155 155 20 3,140 CROWN ASIA 1.94 1.95 1.94 1.94 1.94 1.94 41,000 79,540 EUROMED 2.61 2.62 2.64 2.66 2.59 2.61 782,000 2,049,020 540,810 LMG CORP 4.43 4.58 4.41 4.5 4.4 4.43 164,000 732,100 4.5 4.68 4.5 4.68 4.5 4.68 7,000 31,680 -4,680 MABUHAY VINYL 5.2 5.29 5.4 5.44 5.01 5.2 106,500 561,187 1,360 PRYCE CORP 22.9 23.45 22.6 23.25 22.6 22.9 166,900 3,826,245 -1,574,105 CONCEPCION 2.56 2.57 2.58 2.62 2.55 2.56 5,373,000 13,807,390 157,650 GREENERGY 7.16 7.17 7.16 7.32 7.16 7.17 392,100 2,820,329 14,470 INTEGRATED MICR IONICS 1.1 1.12 1.07 1.14 1.07 1.12 3,262,000 3,604,790 15,350 PANASONIC 5.16 5.39 5.4 5.4 5.4 5.4 2,100 11,340 SFA SEMICON 1.51 1.52 1.57 1.57 1.5 1.52 2,611,000 3,961,260 7,800 CIRTEK HLDG 6.8 6.81 6.7 6.8 6.61 6.8 4,409,700 29,738,681 1,203,769

HOLDING & FRIMS ABACORE CAPITAL 0.64 0.65 0.66 0.68 0.64 0.65 39,240,000 25,883,850 -439,200 ASIABEST GROUP 8.45 8.5 8.67 8.68 8.33 8.48 39,400 334,822 AYALA CORP 855 864.5 859.5 864.5 841 864.5 454,520 390,925,800 48,737,310 ABOITIZ EQUITY 47 47.5 47 47.5 46.45 47.5 979,100 46,214,850 -11,320,060 ALLIANCE GLOBAL 10.08 10.1 10.16 10.2 10 10.1 7,759,900 78,468,796 -34,585,172 3.06 3.07 3.09 3.1 3.07 3.07 2,615,000 8,053,920 748,170 AYALA LAND LOG 6.4 6.5 6.4 6.84 6.4 6.4 1,793,500 11,481,708 -69,130 ANSCOR 0.71 0.72 0.73 0.73 0.69 0.72 267,000 188,240 ANGLO PHIL HLDG ATN HLDG A 0.97 0.98 1.04 1.04 0.97 0.98 30,590,000 30,375,040 ATN HLDG B 0.98 1 1.04 1.04 0.98 0.98 351,000 350,600 64,880 COSCO CAPITAL 5.6 5.7 5.72 5.89 5.55 5.6 3,977,600 22,604,415 -10,170,419 DMCI HLDG 5.77 5.78 5.74 5.77 5.68 5.77 9,656,700 55,364,385 17,642,080 FILINVEST DEV 9.33 9.36 9.32 9.36 9.32 9.36 13,400 125,292 112,221 FORUM PACIFIC 0.206 0.218 0.219 0.219 0.218 0.218 280,000 61,100 GT CAPITAL 644 649 639.5 650 625 649 253,760 161,968,550 5,625,415 4.2 4.21 4.24 4.24 4.2 4.2 36,000 151,780 HOUSE OF INV JG SUMMIT 70.2 71.2 73.3 73.3 70.2 70.2 1,910,720 136,146,343.50 -4,876,645 4.84 5.15 5 5 5 5 1,600 8,000 KEPPEL HLDG A LODESTAR 0.79 0.82 0.82 0.82 0.79 0.82 3,000 2,430 LOPEZ HLDG 3.72 3.73 3.73 3.73 3.72 3.72 9,724,000 36,223,140 -5,090,580 LT GROUP 13.48 13.5 13.58 13.66 13.48 13.5 2,707,000 36,567,608 7,411,602 MABUHAY HLDG 0.52 0.54 0.55 0.55 0.52 0.54 436,000 233,010 MJC INVESTMENTS 1.88 1.89 1.88 1.88 1.88 1.88 8,000 15,040 METRO PAC INV 4.55 4.56 4.52 4.55 4.41 4.55 46,721,000 209,335,390 -2,698,480.00 3.9 4.02 4.1 4.1 3.9 3.9 68,000 267,430 PACIFICA HLDG PRIME MEDIA 0.85 0.86 0.87 0.87 0.85 0.86 369,000 316,120 REPUBLIC GLASS 2.99 3.04 2.99 3 2.99 3 163,000 488,630 SOLID GROUP 1.16 1.17 1.16 1.18 1.14 1.16 308,000 355,310 57,000.00 268 278 267 270 267 270 110 29,670 SYNERGY GRID SM INVESTMENTS 1,026 1,030 1,033 1,044 1,019 1,026 299,540 307,477,350 -41,676,150 SAN MIGUEL CORP 132.8 132.9 134.8 134.8 132.1 132.9 510,530 68,283,200 -6,625,316 SOC RESOURCES 0.69 0.7 0.7 0.7 0.69 0.69 81,000 56,210 TOP FRONTIER 146.9 147 148 148 145 147 730 107,119 WELLEX INDUS 0.225 0.232 0.225 0.23 0.225 0.23 240,000 54,180 0.171 0.175 0.177 0.177 0.17 0.171 2,790,000 479,740 ZEUS HLDG

PROPERTY ARTHALAND CORP 0.7 0.71 0.67 0.73 0.67 0.71 12,353,000 8,687,400 -98,490 ANCHOR LAND 7.7 8.3 8 8.3 8 8.3 5,200 41,630 AYALA LAND 39.9 39.95 40 40.3 38.55 39.95 9,974,100 394,215,510 -46,968,400 ARANETA PROP 1.22 1.25 1.25 1.25 1.21 1.25 106,000 129,860 AREIT RT 27.55 27.6 27.55 27.6 27.5 27.55 688,800 18,970,815 819,485 1.65 1.66 1.65 1.66 1.63 1.65 819,000 1,350,050 -331,620 BELLE CORP 0.89 0.9 0.9 0.91 0.89 0.9 1,497,000 1,341,880 1,780 A BROWN 0.79 0.8 0.8 0.82 0.8 0.8 20,000 16,040 CITYLAND DEVT CROWN EQUITIES 0.151 0.153 0.155 0.155 0.15 0.154 1,550,000 237,190 CEBU HLDG 6.04 6.17 6.17 6.17 6.17 6.17 8,100 49,977 CEB LANDMASTERS 5.01 5.03 4.95 5.05 4.95 5.03 602,000 3,011,440 563,330 CENTURY PROP 0.49 0.495 0.48 0.495 0.48 0.49 24,000,000 11,698,400 91,800 CYBER BAY 0.325 0.33 0.33 0.335 0.325 0.325 11,760,000 3,845,150 DOUBLEDRAGON 14.9 14.92 14.98 15 14.88 14.92 1,127,300 16,816,730 -2,812,394 DM WENCESLAO 6.29 6.31 6.14 6.38 6.14 6.29 1,244,700 7,765,833 -2,985,473 0.32 0.325 0.325 0.325 0.315 0.325 15,100,000 4,839,550 19,050 EMPIRE EAST 0.084 0.085 0.084 0.085 0.081 0.085 2,830,000 237,380 EVER GOTESCO FILINVEST LAND 1.14 1.15 1.15 1.17 1.15 1.15 17,737,000 20,525,010 2,063,580 0.9 0.92 0.9 0.92 0.9 0.92 220,000 200,760 GLOBAL ESTATE 8990 HLDG 8.55 8.58 8.69 8.69 8.54 8.55 6,900 59,200 25,740 PHIL INFRADEV 1.62 1.63 1.58 1.63 1.58 1.62 3,446,000 5,548,980 17,520 KEPPEL PROP 3.08 3.96 3.25 3.34 3.25 3.3 13,000 42,860 CITY AND LAND 0.73 0.75 0.73 0.73 0.72 0.73 55,000 40,100 MEGAWORLD 4.01 4.02 3.97 4.03 3.9 4.02 32,867,000 130,825,650 -11,369,890 0.53 0.54 0.53 0.55 0.52 0.54 62,959,000 33,574,040 -763,340 MRC ALLIED 0.395 0.425 0.425 0.425 0.425 0.425 250,000 106,250 PHIL ESTATES PRIMEX CORP 1.31 1.33 1.34 1.34 1.27 1.32 734,000 963,810 10,720 19.1 19.16 18.52 19.24 18.5 19.16 12,697,400 240,459,850 40,620,388 ROBINSONS LAND 0.28 0.29 0.285 0.29 0.28 0.29 700,000 199,500 -20,300 PHIL REALTY ROCKWELL 1.56 1.57 1.56 1.57 1.55 1.56 744,000 1,160,710 -371,740 SHANG PROP 2.69 2.71 2.7 2.71 2.7 2.71 32,000 86,420 35,120 STA LUCIA LAND 2.18 2.2 2.17 2.25 2.12 2.2 1,414,000 3,094,290 SM PRIME HLDG 37.6 37.9 38.75 38.85 37.5 37.6 10,922,800 413,917,480 -57,066,760 VISTAMALLS 4.77 4.84 4.71 4.89 4.71 4.76 64,000 304,090 1.73 1.74 1.68 1.74 1.67 1.73 4,624,000 7,927,390 SUNTRUST HOME VISTA LAND 4.68 4.69 4.7 4.7 4.54 4.68 36,244,000 169,710,330 -10,060,670

SERVICES ABS CBN 12.16 12.18 12.5 12.5 12.18 12.18 481,700 5,913,182 GMA NETWORK 5.91 5.92 5.9 5.95 5.89 5.91 841,500 4,974,809 MANILA BULLETIN 0.42 0.435 0.425 0.425 0.42 0.42 710,000 299,350 MLA BRDCASTING 12.2 12.66 12.5 12.68 12.5 12.68 1,000 12,654 GLOBE TELECOM 2,022 2,046 2,010 2,046 2,010 2,046 52,535 106,702,730 -18,531,520 1,346 1,350 1,360 1,369 1,324 1,350 140,110 189,266,065 -68,884,465 PLDT 0.054 0.055 0.053 0.055 0.052 0.055 136,370,000 7,272,300 298,040 APOLLO GLOBAL 16 16.02 15.7 16 15.68 16 3,146,000 49,828,564 4,646,282 CONVERGE 4.29 4.49 4.28 4.49 4.28 4.49 237,000 1,046,130 44,500 DFNN INC 6.92 6.93 6.88 7 6.86 6.92 42,192,000 292,258,092 4,342,915 DITO CME HLDG IMPERIAL 1.35 1.49 1.35 1.36 1.35 1.36 31,000 42,150 ISLAND INFO 0.113 0.117 0.108 0.117 0.108 0.117 1,810,000 210,910 JACKSTONES 1.84 1.87 1.87 1.87 1.82 1.87 75,000 138,350 NOW CORP 4.73 4.74 4.8 4.84 4.72 4.74 6,300,000 30,048,970 334,820 TRANSPACIFIC BR 0.315 0.32 0.315 0.335 0.315 0.32 71,470,000 23,195,150 -135,200 2.94 2.95 2.94 2.97 2.89 2.94 766,000 2,234,640 188,030 PHILWEB 9.2 9.21 9.2 9.2 9.09 9.2 64,800 593,062 6,370 2GO GROUP 3,100 49,290 49,290 ASIAN TERMINALS 15.62 15.9 15.9 15.9 15.9 15.9 5.51 5.52 5.61 5.62 5.51 5.51 2,588,000 14,314,139 33,110.00 CHELSEA 51.3 51.35 51.4 51.95 50.85 51.3 551,340 28,362,893 -4,287,466.50 CEBU AIR INTL CONTAINER 121 121.5 122 122.8 120.6 121 2,143,040 259,643,393 4,815,671 LBC EXPRESS 15.38 15.96 15.98 15.98 15.5 15.8 6,300 99,326 LORENZO SHIPPNG 0.98 1.02 1 1.02 1 1.02 15,000 15,200 MACROASIA 8.04 8.06 8.03 8.2 7.99 8.06 3,781,800 30,645,261 -137,441.00 2.18 2.19 2.18 2.2 2.16 2.18 616,000 1,339,920 METROALLIANCE A METROALLIANCE B 1.95 2.12 2.13 2.13 2.13 2.13 1,000 2,130 PAL HLDG 7.29 7.3 7.3 7.4 7.3 7.3 82,000 603,222 HARBOR STAR 1.71 1.72 1.76 1.78 1.7 1.71 3,905,000 6,745,510 -25,940 1.4 1.45 1.45 1.45 1.4 1.45 347,000 489,150 ACESITE HOTEL BOULEVARD HLDG 0.034 0.035 0.036 0.036 0.034 0.035 70,800,000 2,483,400 -321,100.00 DISCOVERY WORLD 2.03 2.04 2 2.03 1.98 2.03 164,000 327,410 WATERFRONT 0.63 0.64 0.66 0.66 0.63 0.64 18,499,000 11,839,080 126,000 IPEOPLE 9 9.45 9 9 9 9 1,000 9,000 STI HLDG 0.395 0.4 0.405 0.405 0.395 0.4 5,760,000 2,296,150 -756,050 5.23 5.24 5.1 5.25 5 5.24 544,400 2,806,743 -10,200.00 BERJAYA 8.55 8.58 8.66 8.88 8.53 8.55 4,796,700 41,378,211 -14,852,957 BLOOMBERRY 2.05 2.12 2.01 2.13 2.01 2.05 120,000 245,650 -6,030.00 PACIFIC ONLINE 1.9 1.93 1.9 1.93 1.87 1.9 666,000 1,274,550 7,720 LEISURE AND RES 2.37 2.46 2.36 2.46 2.35 2.46 88,000 207,590 MANILA JOCKEY PH RESORTS GRP 3.02 3.03 3 3.05 2.96 3.03 9,287,000 27,927,540 -400,910 PREMIUM LEISURE 0.415 0.42 0.415 0.42 0.405 0.42 12,480,000 5,156,150 76,850 PHIL RACING 6.8 6.9 6.7 6.9 6.7 6.8 6,100 41,610 ALLHOME 8.38 8.47 8.5 8.6 8.38 8.38 1,781,800 15,114,063 -1,122,441 1.64 1.66 1.63 1.65 1.62 1.65 3,330,000 5,428,760 -1,385,500 METRO RETAIL 41.85 41.9 42.2 42.4 41.8 41.85 2,706,600 113,681,050 -59,374,400 PUREGOLD 68.25 68.35 69.15 69.3 67.95 68.35 705,390 48,231,310.50 -22,459,857.50 ROBINSONS RTL 105.8 106 109 109 106 106 800,680 85,034,178 1,374,320 PHIL SEVEN CORP 1.7 1.71 1.7 1.73 1.69 1.71 6,579,000 11,240,920 -5,528,500 SSI GROUP WILCON DEPOT 17.8 17.82 17.9 18 17.7 17.82 2,180,600 38,898,760 14,114,904.00 APC GROUP 0.42 0.425 0.415 0.425 0.415 0.42 2,520,000 1,052,300 EASYCALL 8.05 8.1 8 8.14 7.94 8.1 86,400 693,334 82,400 GOLDEN BRIA 437 450 438 450 437.2 450 6,060 2,662,720 -21,910 IPM HLDG 4.7 4.8 4.7 4.99 4.65 4.8 28,500 134,080 2.31 2.35 2.31 2.35 2.31 2.35 2,000 4,660 PAXYS PRMIERE HORIZON 0.76 0.77 0.75 0.76 0.73 0.76 20,483,000 15,421,790 8,500 5.06 5.19 5.23 5.23 5.01 5.06 41,600 214,765 37,500 SBS PHIL CORP

MINING & OIL

ATOK 8.51 8.86 8.99 9.06 8.5 8.89 123,400 1,084,508 8,710 APEX MINING 1.84 1.85 1.9 1.93 1.85 1.85 11,083,000 20,834,300 -219,020 ABRA MINING 0.001 0.0011 0.001 0.0011 0.0009 0.0011 11,219,000,000 11,439,600 -136,800 ATLAS MINING 6.1 6.12 6.05 6.13 6.05 6.12 553,300 3,368,323 -505,745 3.05 3.17 3.02 3.17 3.02 3.17 103,000 326,000 BENGUET A BENGUET B 3.1 3.15 3.1 3.1 3.1 3.1 75,000 232,500 34,100 0.305 0.31 0.3 0.315 0.295 0.305 2,810,000 857,100 COAL ASIA HLDG CENTURY PEAK 2.44 2.45 2.38 2.52 2.29 2.45 2,197,000 5,257,480 -586,250 8.16 8.38 8.49 8.49 8.17 8.38 2,900 23,932 DIZON MINES FERRONICKEL 2.24 2.25 2.2 2.27 2.19 2.25 5,805,000 13,004,960 1,299,950.00 GEOGRACE 0.255 0.26 0.255 0.255 0.249 0.255 450,000 114,440 LEPANTO A 0.156 0.157 0.16 0.16 0.156 0.157 23,540,000 3,711,130 LEPANTO B 0.156 0.159 0.16 0.16 0.155 0.159 1,860,000 294,120 -156,980 MANILA MINING A 0.0095 0.0097 0.0095 0.0096 0.0094 0.0095 14,000,000 132,900 0.0097 0.01 0.011 0.011 0.011 0.011 2,100,000 23,100 MANILA MINING B MARCVENTURES 1.23 1.24 1.26 1.27 1.22 1.23 3,363,000 4,134,410 1,232,250 2.86 2.91 2.93 2.95 2.85 2.86 491,000 1,411,700 -114,400 NIHAO 4.69 4.7 4.75 4.9 4.68 4.69 7,692,000 36,250,560 9,915,680 NICKEL ASIA 0.37 0.38 0.36 0.37 0.36 0.37 340,000 124,300 -14,800 OMICO CORP ORNTL PENINSULA 0.68 0.69 0.69 0.7 0.68 0.69 760,000 520,900 PX MINING 5.03 5.04 5 5.2 5 5.03 4,047,000 20,523,900 56,370 SEMIRARA MINING 12.04 12.08 12.28 12.28 11.98 12.04 3,490,600 42,109,138 -1,917,244 UNITED PARAGON 0.0053 0.0055 0.0055 0.0055 0.0052 0.0055 22,000,000 116,400 52,000 9.2 9.29 9.65 9.65 9.15 9.2 362,900 3,380,053 138,300 ACE ENEXOR 0.01 0.011 0.01 0.011 0.0099 0.011 63,700,000 639,230 ORNTL PETROL A ORNTL PETROL B 0.01 0.011 0.01 0.01 0.01 0.01 1,000,000 10,000 PHILODRILL 0.0083 0.0085 0.0085 0.0085 0.0082 0.0085 23,000,000 194,000 PXP ENERGY 13.56 13.58 13.78 14.4 13.4 13.56 4,208,100 58,107,176 108,408

PREFFERED AC PREF B1 512 515 513 513 512 512 6,000 3,073,760 ALCO PREF B 101 102 101 101 101 101 80 8,080 AC PREF B2R 500 509 509 509 500 500 26,360 13,227,070 DD PREF 100.4 101.9 100.8 102 100 102 202,480 20,297,178 15,105 GLO PREF P 510.5 517.5 510 510 510 510 8,000 4,080,000 1,029 1,031 1,029 1,029 1,029 1,029 130 133,770 GTCAP PREF B MWIDE PREF 2A 98.05 100.3 97.2 97.2 97.2 97.2 500 48,600 MWIDE PREF 2B 98.05 98.45 100.7 100.7 95 98.4 186,380 17,977,819.50 49,350 99.2 100 99.05 100 99.05 99.2 4,370 432,954 PNX PREF 3A PNX PREF 4 992 998 997.5 998 990 997.5 3,160 3,132,705 PCOR PREF 2B 1,008 1,029 1,030 1,030 1,030 1,030 65 66,950 PCOR PREF 3A 1,069 1,070 1,063 1,063 1,063 1,063 450 478,350 PCOR PREF 3B 1,110 1,114 1,114 1,114 1,114 1,114 20 22,280 SFI PREF 1.65 1.8 1.8 1.8 1.8 1.8 2,000 3,600 SMC PREF 2C 78.5 78.65 78.5 78.65 78.5 78.65 3,720 292,039.50 99,695 76.2 76.85 76.8 76.8 76.8 76.8 1,000 76,800 SMC PREF 2E SMC PREF 2F 77.15 78 77.55 77.55 77 77 129,080 9,977,375.50 SMC PREF 2H 76 76.2 76.25 76.25 76 76.2 54,820 4,174,745.50 SMC PREF 2I 77 77.8 77 77.5 77 77.5 6,700 518,072.50 SMC PREF 2J 76.1 76.5 76.1 76.5 76.1 76.5 20,970 1,595,850

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 12.4 12.8 12.5 12.8 12.5 12.8 109,800 1,404,540 GMA HLDG PDR 5.61 5.65 5.65 5.65 5.61 5.63 94,000 528,950 171,815

WARRANTS LR WARRANT 1.01 1.02 1 1.01 1 1.01 84,000 84,740 -

SMALL & MEDIUM ENTERPRISES ALTUS PROP 15.14 15.28 15.42 15.6 14.5 15.28 779,700 11,776,062 -1,207,212 ITALPINAS 3.05 3.1 3.04 3.12 3.02 3.05 2,437,000 7,471,000 -1,589,690 KEPWEALTH 6.29 6.31 6.06 6.35 6.06 6.3 84,000 525,154 MAKATI FINANCE 2.5 2.7 2.7 2.7 2.49 2.7 51,000 134,620 MERRYMART 6 6.03 5.94 6.14 5.93 6 21,603,100 130,555,052 -13,660,238

EXHANGE TRADE FUNDS

FIRST METRO ETF 107.5 108.2 108.4 109 107.5 107.5 10,690 1,157,253 129,850

www.businessmirror.com.ph

Anchor Land sees higher foot traffic in properties

B

By VG Cabuag

@villygc

OUTIQUE property developer Anchor Land Holdings Inc. said it saw an increase in foot traffic following the opening of its wholesale centers in preparation for the busy Christmas season.

“Our healthy balance sheet has helped us absorb the impact of the global health pandemic, allowing us to stay true to our commitment to our clients and shareholders,” Anchor Land CEO Steve Li said.

Li said the company is working with its construction partners on recovering delays and coming up

with measures to ensure the wellbeing and safety of their workers.

It has also provided necessary assistance to customers with financial burdens.

He said the company will continue to work on innovative solutions to provide “sustainable, future-proof” developments.

STOCK-MARKET OUTLOOK LAST WEEK

SHARE prices resumed its upward trend last week with the main index again returning to the 7,000-point level, as investors’ sentiment improved on assurances from pharmaceutical companies that the Covid-19 vaccines will become available next year.

The benchmark Philippine Stock Exchange index (PSEi) gained 343.10 points to close at 7,134.56 points.

The main index pierced the 7,000-point level as early as Tuesday, as it was a four-day work week, gaining more than 3 percent. It continued its gains in the succeeding days before giving up points on Friday.

November's inflation rate rose to 3.3 percent primarily due to supply-side pressures.

“So far, our data are still conveying a challenged local economy as the recent typhoons aggravated our pandemic-stricken situation,” Japhet Louis O. Tantiangco, senior research analyst at Philstocks Financials Inc., said.

Foreign investors, however, were still net sellers at P2.35 billion. Average value of trade for the week was high at P9.06 billion.

All other subindices posted points, led by the All Shares index that gained 150.09 points to close at 4,250.37, the Financials index added 53.44 to 1,480.73, the Industrial index rose 295.88 to 9,246.63, the Holding Firms index soared 451.91 to 7,382.98, the Property index climbed 164.85 to 3,575.87, the Services index increased 31.90 to 1,532.11 and the Mining and Oil index surged 242.08 to 8,717.48.

THIS WEEK

SHARE prices may continue its upward trend this week on optimism that the economy may recover next year and expectations of a much stronger recovery in 2022, an election year.

“Next technical tops to trounce are the 7,500, 7,793 and 7,890, the same levels that the index has gyrated sideways back in 2019, pre-Covid,” online broker 2TradeAsia said.

It said the main index may only hurdle these resistance points on positive news on the Covid-19 vaccines and stimulus injections by the government.

“Eyes will be on the December 17 [policy] meeting of the Monetary Board. Another rate cut of the same degree at 25 basis points will put policy rates below 2 percent, the lowest it has been in recent years,” it said.

Tantiangco, however, said that based on its chart readings, the PSEi has so far been unable to sustain its ground at the 7,150 level.

“With these, we see a downward bias for the local market in this week’s trading,” he said.

“Investors are expected to look towards the upcoming economic data including our September foreign direct investments and October foreign trade for further clues on our economic condition."

He said the PSEi's 10-day exponential moving average, currently at 7,041.08, is seen as its initial support. Next support is the 6,600 level. The market’s resistance, on the other hand, is seen at 7,150.

STOCK PICKS

BROKER Regina Capital Development Corp. advised to take profits on the stock of Security Bank Corp. (SECB) as its trading last week pushed it above its key short- and long-term moving averages.

“This comes after SECB traded between a relatively narrow range of P117.00 and P125.70 for over a week. Despite the relatively muted performance earlier though, its indicators have been in the overbought regions for an extended period of time,” it said.

The shares of the bank are currently trading at its highest level since the country was first put under lockdown in March. Some profit-taking may ensue due to the strong uptick but it may start consolidating sideways anew before picking up again.

Security Bank shares closed Friday at P134 apiece.

Meanwhile, it gave a hold recommendation on the stock of construction firm EEI Corp. as its recovery is seen during the latter half of 2021.

“We still expect EEI to benefit from the country’s infrastructure overhaul, but the effects will likely materialize in the latter half of 2021. Do note that the base effect will ensure EEI a strong rebound next year, but that will likely not measure up to its pre-Covid levels,” it said.

It gave a target price of P7.96 per share of EEI. The stock closed last week at P7.88 apiece. VG Cabuag

“Anchor Land has a solid foundation. And just like our people, we are resilient, adaptable, and relentless. Together we will see this through and come out stronger than ever,” Li said.

Company president Elizabeth Ventura, meanwhile, said despite the enhanced community quarantine, the company continued to keep in touch with its clients, giving them updates about its operations and providing support where needed.

“In fact, we have gradually resumed our construction activities in May when the national government partially eased its strict quarantine protocols. To date, we have continued 90 percent of our construction activities,” she said.

The company, at the moment, has 11 ongoing projects, five of which are high-end to luxury resi-

MUTUAL FUNDS

dential projects in Manila Chinatown, Bay City, Roxas Boulevard area and Davao City; two co-living establishments in Pasay City; one logistics center in Binondo; one luxury hotel along Roxas Boulevard; one premium office in Bay City; and one mixed-use property in partnership with the Parañaque City government.

Ventura said the company’s strong foundation, together with its support from its Binondo stronghold, will help it weather the temporary, short-term effects of the health crisis, now that the economy is picking up pace.

“We are grateful for the continuous support of our clients, especially in Manila Chinatown.

Despite the ongoing global crisis, Binondo market remains stable,” she said.

December 4, 2020

NAV ONE YEAR THREE YEAR FIVE YEAR Y-T-D

PER SHARE RETURN* RETURN STOCK FUNDS ALFM GROWTH FUND, INC. -A 229.13 -9.62% -6.42% -1.62% -9.02% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.3031 -9.43% -6.13% 1.51% -5.71% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 3.1687 -16.43% -10.31% -3.17% -13.85% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.8122 -10.53% -6.84% N.A. -9.55% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.7566 -12.09% N.A. N.A. -10.91% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 4.9905 -6.79% -4.9% -1.4% -6.34% FIRST METRO SAVE AND LEARN PHILIPPINE INDEX FUND, INC. -A,4 0.7712 -10.23% -7.67% N.A. -9.65% MBG EQUITY INVESTMENT FUND, INC. -A 99.35 -7.57% N.A. N.A. -3.75% PAMI EQUITY INDEX FUND, INC. -A 47.2394 -8.44% -4.25% 0.11% -7.88% PHILAM STRATEGIC GROWTH FUND, INC. -A 493.07 -8.24% -4.32% -0.59% -7.45% PHILEQUITY ALPHA ONE FUND, INC. -A,D,5 1.0887 N.A. N.A. N.A. 5.69% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.1714 -9.93% -4.62% -0.17% -8.98% PHILEQUITY FUND, INC. -A 34.8834 -8.74% -3.98% 0.49% -7.95% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A 0.9225 -10.19% N.A. N.A. -9.39% PHILEQUITY PSE INDEX FUND INC. -A

4.8303 -8.03% -3.65% 0.81% -7.53% PHILIPPINE STOCK INDEX FUND CORP. -A 807.93 -7.82% -3.54% 0.7% -7.35% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.7281 -17.01% -7.77% -3.35% -14.48% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 3.6408 -14.65% -6.09% -1.13% -13.5% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 0.925 -8.35% -3.89% 0.59% -7.57% UNITED FUND, INC. -A 3.3429 -9.56% -3.45% 1.06% -8.49% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C 108.4957 -7.68% -3.27% 1.48% -7.23% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ATRAM ASIAPLUS EQUITY FUND, INC. -B $1.1717 20.36% 1.97% 5.34% 13.93% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.6217 20.18% 9.09% N.A. 17.63% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.6605 5.3% -2.69% -0.94% 6.25% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.2869 2.55% -1.52% 1.19% 4.85% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.6426 0.38% -0.84% -0.71% 0.42% FIRST METRO SAVE AND LEARN F.O.C.C.U.S. DYNAMIC FUND, INC. -A,1 0.1996 -13.74% N.A. N.A. -12.65% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.9731 0.44% 0.74% 1.92% 0.59% PAMI HORIZON FUND, INC. -A 3.7993 0.13% 0.02% 1.27% 0.27% PHILAM FUND, INC. -A 16.9864 0.07% -0.12% 1.19% 0.15% SOLIDARITAS FUND, INC. -A 2.1011 -1.81% -1.27% 0.91% -0.99% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.5801 -7.73% -2.71% -0.11% -7.34% SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D 1.0235 0.64% N.A. N.A. 0.77% SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D 0.958 -4.22% N.A. N.A. -3.85% SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D 0.9419 -5.6% N.A. N.A. -5.17% SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.8901 -9.45% -3.55% -0.88% -8.69% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES $0.03913 2.87% 2.7% 2% 2.43% COCOLIFE DOLLAR FUND BUILDER, INC. -A PAMI ASIA BALANCED FUND, INC. -B $1.1232 12.59% 2.13% 4.63% 10.99% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $4.3903 13.99% 6.7% 6.85% 12.26% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A,3 $1.1818 5.75% 3.07% N.A. 4.7% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 369.97 3.72% 3.21% 2.78% 3.36% ATRAM CORPORATE BOND FUND, INC. -A 1.8976 -0.04% 0.13% 0% -0.23% COCOLIFE FIXED INCOME FUND, INC. -A

3.2101 3.26% 4.58% 4.86% 2.96% EKKLESIA MUTUAL FUND INC. -A 2.2916 3.58% 2.98% 2.38% 3.07% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.4461 4.32% 3.35% 2.08% 3.69% PHILAM BOND FUND, INC. -A 4.628 6.78% 4.57% 3.09% 5.83% PHILAM MANAGED INCOME FUND, INC. -A,6 1.3166 5.29% 4.41% 2.56% 4.77% PHILEQUITY PESO BOND FUND, INC. -A 3.9711 5.42% 4.4% 2.77% 4.83% SOLDIVO BOND FUND, INC. -A 1.0361 8.49% 4.02% 2.51% 7.45% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 3.1865 4.85% 4.65% 3.46% 3.61% SUN LIFE PROSPERITY GS FUND, INC. -A 1.7425 3.68% 3.93% 2.81% 2.43% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. -A $482.77 3.42% 2.74% 2.91% 3.08% ALFM EURO BOND FUND, INC. -A Є218.67 -0.4% 0.8% 1.14% -0.51% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.2687 5.44% 3.81% 2.97% 5.09% 1.75% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0265 2.71% 1.96% 2.71% PAMI GLOBAL BOND FUND, INC -B $1.0921 -0.16% 0.42% 0.86% -0.14% PHILAM DOLLAR BOND FUND, INC. -A

$2.5256 5.6% 4.02% 3.57% 5.08% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.0621684 3.2% 2.74% 2.3% 3.1% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $3.2031 1.31% 2.11% 2.39% 0.88% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC. -A 129.61 3.27% 3.34% 2.57% 3% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A 1.0472 2.09% N.A. N.A. 2.04% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.2949 2.63% 2.99% 2.62% 2.36% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.0517 1.53% 1.72% N.A. 1.29% FEEDER FUNDS PRIMARILY INVESTED IN PESO SECURITIES SUN LIFE PROSPERITY WORLD EQUITY INDEX FEEDER FUND, INC. -A,D,7 1.1001 N.A. N.A. N.A. N.A. PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM GLOBAL MULTI-ASSET INCOME FUND INC. -B,D,2 $0.97 -1.02% N.A. N.A. -2.02%

A - NAVPS AS OF THE PREVIOUS BANKING DAY. B - NAVPS AS OF TWO BANKING DAYS AGO. C - LISTED IN THE PSE. D - IN NET ASSET VALUE PER UNIT (NAVPU).

1 - LAUNCH DATE IS SEPTEMBER 28, 2019. 2 - LAUNCH DATE IS NOVEMBER 15, 2019. 3 - ADJUSTED DUE TO STOCK DIVIDEND ISSUANCE LAST OCTOBER 9, 2019.

4 - RENAMING WAS APPROVED BY THE SEC LAST OCTOBER 12, 2018 (FORMERLY, ONE WEALTHY NATION FUND, INC.). 5 - LAUNCH DATE IS DECEMBER 09, 2019.

6 - RE-CLASSIFIED INTO A BOND FUND STARTING FEBRUARY 21, 2020 (FORMERLY A MONEY MARKET FUND). 7 - LAUNCH DATE IS JULY 6, 2020.

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

HarvardManagementUpdate BusinessMirror BusinessMirror

www.businessmirror.com.ph www.businessmirror.com.ph

Monday, July 13, 2020 B Monday, December 7, 2020 b3

Maternity leave isn’t enough

to retain new moms A

By Mita Mallick

ramping back to work options after they return from leave. While some women will want options to help them ramp back to full-time work, others will want to explore alternative options. Offer a suite of possibilities including flexible working, part time or job-sharing opportunities for all individuals.

You may also want to ensure that your offices have a mother’s room, where women can pump milk comfortably and privately.

Design rooms to include comfortable seating, a fridge, a sink and a microwave. Backup child care is another key offering, which many companies have added during the pandemic. Finally, tech companies including Facebook, Google and Salesforce, have also started to offer additional paid time off for caregivers.

few weeks into my first maternity leave, a former colleague and friend called to check in on me and my infant son, Jay. It had been a rough birth physically and happened in Manhattan in the aftermath of Hurricane Sandy, which added to the stress. I welcomed her call, thankful to hear a familiar voice. end of my maternity leave after finding another opportunity.

The lesson I drew from this was simple. Maternity leave is one thing. Support for new mothers is an entirely different issue.

According to the Society for Human Resource Management, 60 percent of organizations offer 12 weeks of maternity leave and 33 percent offer longer leaves to new mothers. Some organizations are also making policies more inclusive: Spotify, Etsy, Twitter and others offer paid parental leave, filling the void that exists in countries like the US, where no mandated paid parental leave exists.

But paid time off is not enough.

Organizations need to create a broader ecosystem to support working mothers. Here are five questions to focus on as we look to retain, develop and promote them:

Who will take on her work?

When there’s no clear plan for transitioning responsibilities or the strategy is simply to throw work onto employees and colleagues, it can create a great deal of anxiety.

A new mom might feel like she is burdening her team, while her peers might become resentful.

One solution is to reach out to former employees who know your organization well and could con-

How will you know if you are successful?

WWW.FREEPIK.COM

“How are you doing?” she gently asked me, as we swapped new mom stories and made plans to meet up soon. “Is everything OK jobwise?

Are you still planning to return to work?”

“Oh yes,” I replied quickly, changing my son’s diaper as we spoke. “Why wouldn’t I?” She was silent for a moment, then said, “A recruiter called me about your job, and it’s also posted online, so I thought you weren’t coming back. I’m sorry to be the one to have to tell you that.”

I don’t remember what I said next. I don’t remember how the call ended. I do remember that my head was spinning. I finished feeding my son and put him down for a nap.

Why would my job be posted online when I was going back? Why hadn’t anyone told me?

I thought back to the period before I’d taken leave. When the doctor advised me to stop traveling to customer meetings in my third trimester, my bosses weren’t happy.

When I stayed at the office until 11 p.m. to work on urgent requests at seven months pregnant, no one ever suggested that I order dinner.

When I wrapped up things a few days before my due date, management assured me that I would come back to my role. But now I didn’t trust them. I resigned toward the

sult for a few months to cover the work. Another option is partnering with an organization like The Second Shift, which has created a marketplace to match companies with female experts who can help on certain projects or cover leaves.

If you can’t bring in a consultant and need current team members to help, ensure they are compensated with a cash bonus or an increase in salary.

place while they’re out, promise to conduct one when they return.

If you are forced to rank team members on a “bell curve,” evaluate those on maternity leave based on their performance before they left. If you find that new parents are falling to the lower end of the curve, your organization needs to have an open and honest dialogue about the biases you’re bringing to the table.

How will you assess her performance?

What are her career aspirations?

Sit down with people before they take leave and give them detailed feedback on their performance year-to-date versus their goals. If necessary, explain how the leave will affect any merit or bonus pay.

If a formal review would have taken

Don’t assume that new mothers want to stay on the “mommy track.” Continue to ask about and understand their career aspirations, checking in as you would with any employee on how they want to grow in the organization. Come into those conversations with an open

mind and listen carefully.

If you hear that the ambitions of an employee are unchanged, ensure that upon her return she is guaranteed the same role she had before leaving and include her in succession planning for key roles.

Give her clear guidance on what it takes to get that next assignment or promotion, and ask her if she would like to be contacted during the leave about upcoming opportunities.

What other policies do you have to support new mothers?

Companies need a robust suite of policies to make motherhood work for new working mothers. According to the Society for Human Resource Management, 81 percent of companies offer new mothers

What gets measured gets done.

How do you know if you are retaining mothers? Track how many return from leave. Measure how long they stay out after their first child and any subsequent children. Ask your new working parents what more they want. Host roundtables and listening tours to ensure you are meeting their needs. Crowdsource ideas and co-create solutions to be a better place to work for employees with young children.

Patagonia is a great example of a company that focuses on data and has strong retention. It supports working mothers with policies such as on-site child care and an organizational culture that embraces employees’ families.

Senior leaders have to commit to creating an environment that is supportive of new parents, and particularly mothers, beyond paid leave. Only once they do, their employees will feel that they can build a long-term career—and a family— at your organization.

Mita Mallick is the head of inclusion, equity and impact at Carta.

Managing someone whose life has been upended T

By Bruce Feiler

he coronavirus pandemic marks the first time in a century that the entire planet is going through the same disruption at the same time. For businesses, that means that all employees are confronting a degree of change. Transitions might range from the loss of a loved one to the loss of a spouse's income; the turmoil is so widespread that executives and managers have no choice but to step in and help.

The good news: There is plenty of research that can help employees navigate these life-changing events.

I have spent the last five years talking to people about the biggest transitions of their lives. What I have learned is that the average adult experiences around three dozen disrupting events in the course of their lives—averaging out to one every 12 to 18 months. These disrupters can be involuntary (a downsizing or a cancer diagnosis) or voluntary (embarking on a new venture, having a child).

We get through most such events with relative ease. We adjust, draw on our support networks and move on. But every now and then, one

of these disrupters can rise to the level of being truly disorienting and destabilizing. I call these episodes “lifequakes.”

The pandemic represents a massive, collective lifequake. But while this lifequake has been involuntary, the life transitions that grow out of it must be voluntary. We must choose to take the steps. A life transition, at its heart, is the period of adjustment, creativity and rebirth that helps one find meaning after a major life upheaval.

So what role do managers play in this process? A hallmark of the first century of management theory was that “personal issues” should be kept separate from “office issues,” and that work and family need not mix.

That strict separation of church and state had already been eroding in recent years with the influx of more mothers into the workplace, more dads into the parenting space and round-the-clock connective technology into every space. The once-airtight membrane that divided work life from family life had already become porous.

The pandemic has blown that membrane to smithereens. Working remotely, supervising children as they attempt remote learning,

finding a quiet space for an uninterrupted call with a client: Issues that were once the sole domain of family are now the undeniable terrain of business.

Start with transition superpowers

The most valuable thing a manager can provide to people going through life transitions is calm, empathic perspective on the fact that they will get through whatever challenges they are facing.

That posture begins with pointing out that transitions have a clear structure that may not always be apparent.

Transitions involve three phases n The Long Goodbye: You mourn the old you. n The Messy Middle: You shed habits and create new ones. n The New Beginning: You unveil your fresh self.

Individuals tend to gravitate to the phase they perform best (their transition superpower) and get bogged down in the one at which they are weakest (their transition kryptonite).

The three phases need not oc-

cur in order. Since managers tend to know the strengths and weaknesses of their employees, helping team members determine where to begin would be a simple and helpful step. Those who excel at navigating emotions might start with the Long Goodbye; those who excel at blocking out noise and plunging into challenging initiatives might begin with the New Beginning; those who excel at spreadsheets or complex tasks might begin with the Messy Middle.

Use rituals to say goodbye

The key to navigating a big shift is to accept that the moment we are facing is bound to be an emotional experience. When I asked people about the biggest emotions they had struggled with in their life transitions, many mentioned fear, sadness and shame. Some people coped with those emotions by writing down their feelings; others plunged into new tasks.

But 8 in 10 said they turn to rituals. They held memorial services, got tattoos, visited sweat lodges, purged.…

In a similar spirit, managers can play a helpful role in the Long Goodbye phase by encouraging team members to use collective,

symbolic gestures or experiences as a way of making the statement that they’re going a change and are ready for what comes next.

Everyone profits from sharing

Many of the tools for navigating transitions are connected to one of the three specific phases. But one tool has no temporal element at all: It floats, it recurs; it happens all the time. It’s sharing your story with others, and it’s one part of a life transition where managers can have the most impact—by encouraging team members to open up about their challenges.

Humans like to share. Personal revelation releases soothing chemicals in our brains and activates special systems in our bodies that help us relate better to others. When people relate their most traumatic experiences, their blood pressure, heart rate and other physiological functions rise in the short term, but afterward fall to below where they were before their confessions—and remain there for weeks afterward.

Priorities will change

A life transition is fundamentally a meaning-making exercise.

It is an autobiographical occasion,

in which we are called upon to revise and retell our life stories, adding a new chapter in which to find meaning. The lifequake itself may have been positive or negative, but the story we tell about it has an ending that’s upbeat and forward-looking.

This may be the most important role managers can play. Clearly communicate to employees that everyone is dealing with the same kinds of adjustments; reassure them that minor accommodations in their work schedules are not an existential threat to their jobs; remind them that life is nonlinear and that modest career oscillations, even ones that oblige them to step away for a while, are not permanent and can change once the pandemic passes.

Above all, focus on a truth we all need to be reminded of these days: Transitions work. Ninety percent of the people I spoke with got through their difficult time. By being an outlet as well as a source of wisdom and comfort, you’re not just being a good colleague and friend, you’re also being a good leader.

Bruce Feiler is the author of Life Is in the Transitions: Mastering Change at Any Age.

B4

Show BusinessMirror

Monday, December 7, 2020 • Editor: Gerard S. Ramos

www.businessmirror.com.ph

Dream comes true for Sean de Guzman

Today’s Horoscope

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Larry Bird, 63; Arron Carter, 32; Emily Browning, 31; Jasmine Villegas, 26.

makers, which included filmmaker Joel Lamangan, to play the lead role.”

Ten days was all it took to finish the principal photography of the project. It helped that Lamangan was also his director in the recent movie he did, titled Lockdown, where de Guzman was given a daring supporting role. “I really prepared and went through the script over and over again. Somehow, I already know how Direk Joel is like on the set, and how strict and uncompromising he can be when it comes to the performance and delivery of his actors. I would always remind myself that my director expects to see my character Ino and not me.”

De Guzman shared that he had to shed off all inhibitions to be able to give life to his character.

“I am not the typical boy-next-door, matinee idol type of actor that is usually accorded shrieks and adulation, but that’s not my goal. I want to be known as a competent, good, reliable actor, and I aim for longevity in this business. Just like Alan Paule, the original Macho Dancer in the Lino Brocka film who agreed to play my father in this movie.”

He added that he had a lot of realizations about life, survival and hard work during filming. “Society generally looks down on the flesh trade. But we shouldn’t be quick in passing judgment. Many of these dancers and sex workers are thrown into what they do because they simply want to survive, they simply want to help their families get by day after day after day. If they had more options, they’d be elsewhere.

Oftentimes, poverty drives people into directions they do not want to be on in the first place. Besides, we all have our imperfections that we do not divulge in our respective stories.”

For someone who once quietly dreamed of seeing himself on the big screen, de Guzman has taken one big step by bagging this debut lead role on film.

Perhaps it’s destiny, and he is aware that the road ahead won’t be easy if he wants to be in the big league.

“Hype is not everything for a new actor. In the end, an actor will be evaluated by the quality of work he gives. Not the photos that titillate, not the videos they upload, not the daring gimmicks they think of. It’s how sincere you are as an artist and how serious you are with your craft.”

For now, Sean de Guzman is a reminder to many of us that dreams do come true. n

M

ANY dream of becoming an actor.

Many wait for a long time before they get their big break. While a few are destined to be big stars, a lot of our newcomers work hard to prove themselves worthy to move forward to their next project. So when a big opportunity comes, whether it be for TV, film or commercials, they grab it and take their big leap.

Such is the case of newbie Sean de Guzman, who has just wrapped up filming for what he considers the biggest “surprise” of his life, the titular role in the movie Anak ng Macho Dancer.

“I never expected to be cast as the lead character,” he said in almost a whisper, his modesty obvious. “I went to the auditions with a very realistic goal, just to be included in the movie. There was also a buzz going around that that there was already someone who had been pre-cast by the producer for the lead role. I knew I had the skills as a dancer because of my years of training as part of Clique V, but I only had one movie credit as an actor, which I did only a few months ago.”

Clique V is a sing-and-dance boy band managed

by Len Carillo, proprietress of 3:16 Events & Talents Company where de Guzman is an original, active member. The 20-year-old de Guzman kept his expectations really low even if he had researched and studied the standard choreography used by real life go-go boys when they perform before he went to audition.

De Guzman didn’t have to wait for long for the results. On his way home from the auditions, he received a call to go back to the venue. “Everything happened so fast and just like that, I was told that I was the preferred one of the small group of decision-

‘Bilangin ang Bituin sa Langit’ brings vengeance back to TV FROM left: Mylene Dizon, Nora Aunor and Kyline Alcantara

BEGINNING today, December 7, GMA brings back the wellloved TV adaptation of the 1989 award-winning blockbuster movie by Regal Films, Bilangin ang Bituin sa Langit, on the afternoon block. After several months of hiatus due to the pandemic, the star-studded cast offer their loyal fans and followers a recap of the heartwarming series that they have consistently followed since its pilot airing. Meanwhile, its much-awaited all-new episodes are set to air starting January 2021.

The drama series is top-billed by the one and only Superstar Nora Aunor as Mercedes “Cedes” dela Cruz.

Playing equally important roles are highly acclaimed actress Mylene Dizon as Magnolia “Nolie” dela Cruz and Kyline Alcantara as Maggie dela Cruz.

Bilangin ang Bituin sa Langit follows the story of Cedes, Nolie, and Maggie—three generations of women who will take on a quest to pursue their dreams and to avenge the indignities they suffered from those who have wronged them.

Completing the powerhouse cast are: Zoren Legaspi as Anselmo, conceited son of Martina and Ramon who pursues Nolie for his selfish needs; Gabby Eigenmann as Arthur, an eligible bachelor and entrepreneur who helps Nolie to exact revenge; Ina Feleo as Margaux, classy and self-absorbed wife

of Anselmo who thinks lowly of Nolie; Yasser Marta as Jun, charming and carefree son of Anselmo and Margaux who falls in love with Maggie; Divina Valencia as Editha, a rich widow who crosses paths with Cedes and takes her in; Candy Pangilinan as Connie, close confidante of Nolie who sticks up

z

Happy Birthday: You’ll see the good and the bad this year, making it easier to use discretion when necessary and to encourage help in the most efficient way possible. What you contribute this year will turn heads and encourage others to follow suit. Don’t let the changes others decide to make cause distraction.

Personal gain, enlightenment and respect are heading your way. Your numbers are 5, 11, 21, 27, 35, 41, 47.

a

ARIES (March 21-April 19): Your actions will make a statement. Don’t take a risk when dealing with your health or affairs of the heart.

Stick to your plan, regardless of what others do or say.

You’ll gain stability by doing what’s right and best for you. HHH

b

TAURUS (April 20-May 20): Inconsistency will be your downfall. Stop second-guessing, and trust your intuition to guide you in the right direction. Positive thoughts will help you deter those trying to lead you astray. HHHH

c

GEMINI (May 21-June 20): Refuse to let emotional matters stifle your plans. Stay focused on what you are trying to achieve, and say no to anyone who is tempting you with anything that will interfere with your progress. Discipline and hard work will pay off. HH

d

CANCER (June 21-July 22): What are you waiting for? Push your ideas and plans through. Be innovative, persistent and ready to challenge anyone who stands between you and what you want. Opportunity is within reach; refuse to let anyone stand in your way. HHHHH

e

LEO (July 23-Aug. 22): You’ll get charged up quickly and respond with finesse. The attention you attract will invite criticism as well as praise. Be prepared to stand up for your beliefs and to follow through with your promises. HHH

f

VIRGO (Aug. 23-Sept. 22): Handle decisions concerning money, livelihood and reputation with care. The threat of emotional interference is apparent. A mistake will hinder reaching your full potential. Clear your mind, and make practical decisions. HHH

g

LIBRA (Sept. 23-Oct. 22): Look at every angle before entering a confrontation. Know what you want and what you are willing to give up. Don’t try to change others or a plan that’s already in motion.

Change your attitude, and do what’s best for you. HHH

h

SCORPIO (Oct. 23-Nov. 21): Confusion will set in if you believe everything you hear.

The changes someone wants you to make will be for his or her benefit, not yours. Rethink your strategy, and consider what makes you happy before you commit to someone’s plan. HHH

i

for her through ups and downs; and Isabel Rivas as Martina, controlling and condescending wife of Ramon who will go to great lengths to get what she wants.

Bilangin ang Bituin sa Langit also features the special participation of Ricky Davao as Damian, calm and charitable husband of Cedes; and Dante Rivero as Ramon, Martina’s successful husband. As the series airs anew, the cast members talked about returning on air, how they feel about working in the new normal, and what’s in store for the fans in the coming episodes.

Mylene shares what she appreciates most about working in the new normal: “Magkakasama kaming lahat sa set, arawaraw kaming nagta-trabaho, so it’s easier to stay in character. ’Yung time frame rin, mas mabilis naming natatapos ’yung work. Nagkakaroon talaga ng tunay na bonding ang lahat ng tao sa set.” Meanwhile, Zoren feels fortunate and at ease to have worked in a safe location: “Ever since naman nagkapandemic, I’ve been very careful sa pagsunod sa health protocols. Lahat din ng tao sa set ay dumaan sa swab test at talagang maingat.”

The highly anticipated recap of Bilangin ang Bituin sa Langit begins today, December 7 on weekdays. The series is under the helm of esteemed director Laurice Guillen.

SAGITTARIUS (Nov. 22-Dec. 21): You can wheel and deal, finalize an agreement, start a new fitness routine or anything else you fancy as long as you thwart interference. Know when to say no, and you’ll have more time to follow your dream.

Romance is encouraged. HHHHH

j

CAPRICORN (Dec. 22-Jan. 19): A steady pace forward with little interaction will help you reach your goal. An emotional situation will put you in a precarious position with someone you deal with daily.

Concentrate on getting concrete results. HH

k

AQUARIUS (Jan. 20-Feb. 18): Work hard to finish what you start, and you will get good results and gain respect. Plan something special, celebrate with someone you love or pamper yourself. Don’t let anyone coerce you into something you don’t want to do. HHHH

l

PISCES (Feb. 19-March 20): Get approval from someone you are trying to please before you make a change. Someone’s response to your work or attitude will make you consider heading in a different direction. Wait until you have all the facts. A premature move will be costly. HHH Birthday Baby: You are charming, playful and competitive.

You are helpful and sentimental.

‘football action’ by gary larson The Universal Crossword/Edited by David Steinberg

ACROSS 1 Farm buildings 6 Headed for overtime 10 Breakfast place’s meat and potatoes 14 Strand during the winter 15 Berry from a palm 16 Look at creepily 17 Football player gets ahead in line?

19 Worsted fabric 20 One may be one-way 21 Caught on a nail, say 23 Middle Earth menace 24 Exercise system popular in the 1990s 25 Smart dresser 28 Football player sings loudly?

33 Queequeg’s captain 35 Gained a lap?

36 Newton who studied gravity 37 Card game with melds 39 “Alas!”

41 Writer Jong 42 Beaker’s place 43 One may be allowed to smoke but not drink

4 Football player fights in a ring?

4 48 Banned pesticide 49 Things to hawk 50 Affirmative answer 52 Temples with many tiers 55 Any singer of “She Loves You” 58 Three-layer cookie 59 Football player complains bitterly?

62 It may be 0.7 millimeters wide 63 Largest member of the dolphin family 64 Swindler 65 Crew implements 66 Butterfly catchers 67 Reddish-brown dye DOWN 1 Pen brand 2 Lowest cards in gin rummy 3 Unit cost?

4 Middle part of TNT 5 Villainous looks 6 Diplomat’s delicacy 7 Post-O.R. place 8 Annoys constantly 9 Mulan studio

0 “What’s happenin’?”

1 11 All excited 12 Gin flavoring 13 Clutched 18 Hire new actors 22 1960s radical Hoffman 24 Vietnamese New Year 25 Diamond surface 26 Schitt’s Creek star Catherine 27 Word before “button” or “room” 29 LAX watchdog 30 Zapped with a powerful beam 31 Broken, like a horse 32 Bloodhound’s clue 34 Forested rural region 38 Kind of fork 39 Water-repellent car cover?

40 Did as directed 42 ___ Angeles Times 45 2006 film about a dragon rider 46 Make certain 47 Look for a body part in this clue’s answer, say 51 Rude look 52 Horseback sport

53 Carpeting measurement 54 Park or drive 55 Bikini parts 56 Aslan, for one 57 Billionaire Musk 60 One of five in Hamlet 61 Calypso cousin

Solution to Friday’s puzzle:

Style

BusinessMirror

www.businessmirror.com.ph

Editor: Gerard S. Ramos

• Monday, December 7, 2020

Proenza designers reflect on getting off the ‘hamster wheel’

❶ WHEN it

comes to a gift for someone special in your life, ECCO’s luxe leather goods are timeless classics.

❷ THE smart

BY JOCELYN NOVECK The Associated Press NEW YORK—As New York was grinding to a halt in the spring, Lazaro Hernandez and Jack McCollough, the designers behind Proenza Schouler, were a world away, trekking in Patagonia. They came back to a changed city.

“Those first couple of weeks were obviously spent just figuring out how to keep the company afloat,” says Hernandez. Then the duo realized they had to start drawing their next collection. They sat in their studio in Massachusetts “with a blank sheet of paper, a pencil, blank walls, and we’re like, ‘All right, here we go...what are we gonna draw?’ We had NO idea.”

What eventually emerged was a collection, just released, that dispensed with much of the spectacle and structure of a fashion show—because for once, there wasn’t going to BE a show—and focused on ease, heavy on soft fabrics and, strikingly, shoes that resemble mini-puffer jackets.

“We wanted a sense of serenity to the collection,” says McCollough. Of course, they also didn’t know if anyone was going to feel like buying clothes.

The designers also had to figure out how to present their wares. Most labels have been embracing digital presentations. Proenza Schouler opted to make a hardcover book—“something that stands the test of time”—setting models against evocative New York settings like midtown at sunset or amidst skateboarders in the park.

The designers have also been thinking about longterm changes to the way they and their colleagues work. Maybe, they mused in an interview, less is more, and they don’t need to do runway shows with every collection.

“Maybe we don’t need to be in this rat race of a show every season,” says McCollough.

Everyone in New York has a story about where they were when the city suddenly shut down in the spring. What’s yours?

Hernandez: We were actually in Patagonia. We came back and it was immediate lockdown.... But you know us designers, we’re on this insane schedule, so we had to basically start thinking about drawing our spring collection. We had none of our usual processes in play. Usually we start with a feeling, a mood, and then start doing some research and we go through our archives and pull some of our old stuff, and start creating looks...then we go away and draw. This season we had none of that. It’s like a writer writing a book without an outline. So we just started doodling and drawing and riffing off each other. We dug deep into what we were feeling and all the conversations we were having with our friends.

Mccollough: This season was incredibly freeing in a lot of ways, knowing we weren’t having a show. We’ve had a show every single season since we started our career. (This time) we were a little more free, thinking about the woman’s life and how she’s living in these clothes, less about creating this spectacle and more about creating a wardrobe that can stand the test of time.

Hernandez: And those feelings have manifested themselves in the actual clothes. We’re all just wearing sweaters now. “Cozy” is such a non-fashion word...but what does that word mean in a fashion context? We wanted everything so you could move in it, nothing restricting.

Mccollough: We wanted to destroy all the sharp lines. We wanted the shoes to feel like slippers, we wanted the bags to feel like pillows, we wanted the tailoring to feel soft and slouchy.

Are people still even buying luxury clothes?

Hernandez: People are still buying clothes. Business is not horrible. But I think the function of clothes has changed, no one is going to cocktail parties or...corporate work meetings.

It’s all happening at a more intimate level, whether it’s via Zoom like we’re doing now or a small gathering at people’s homes. I think this calls for a kind of intimacy in clothing, it’s not this idea of peacocking that people used to do on the streets.

Mccollough: I think people want to dream, though, of things they desire. Even if they don’t have a purpose for them right in the moment. So finding that balance is important.

You must have worried at some point that nobody would want to buy clothes again.

Mccollough: March and April were really scary. It was very unprecedented times and we were dealing with this for the first time ever. It was so unclear as to what the future would look like. Also, (usually) in April we get all our fabrics from Italy. But Italy was in lockdown, so what were we going to do?

We went back to this archive of fabrics we have. I’d say about 80 percent to 90 percent of the collection is all upcycled from stuff we already owned.

What changes will last from all this, when the pandemic is over?

Mccollough: It would be really unfortunate if the world went back to normal and it was just business as usual.

Everything from our exploration into sustainability—it’s almost irresponsible not to be talking about that—to just approaching things differently. We’re on this hamster wheel of show after show after show, and we’ve realized we could say something as strong about a collection without having a show. Maybe we don’t need to be in this rat race of having a show every season. Maybe take a season off when we don’t have something to say.

B5

ECCO Leif Formal Belt walks the line between contemporary and classic.

❸ THE Casper

Tote is crafted from ECCO Fine Pebble Full Grain leather for a soft and lightweight feel, and a natural finish.

❹ THE ECCO ❶

Linnea Work Bag features unique veg-tanned leather detailing within a distinctive geometric design.

❷

Leather to love over the holidays and beyond I

F you are looking for gift inspiration this Christmas, Danish brand ECCO has exquisitely crafted leather bags and accessories that make special gifts for special people.

Leather, after all, offers a sense of luxury with its high quality and durability, making it an investment piece that will stand the test of time.

ECCO uses leather made from their tanneries—a main facility in the Netherlands, along with award-winning facilities across Europe, Southeast Asia, and the Far East, providing an everyday sense of luxury with each product.

Working together with creatives, developers and designers from all over the world, collaborative innovation is part of ECCO leather’s DNA. Its Open Circle Lab is an inner circle of progressive designers and brands that have been quietly invited to imagine the unimaginable, and to challenge its tanning technicians to create leathers that designers once could only dream about.

The brand’s new collection of bags and accessories are all made from exquisite materials, making them statement pieces with unique form and functions. Its bags for women— backpacks, totes, and work bags—are effortless everyday essentials. Relaxed and refined, these showcase that famous minimalist Scandinavian aesthetic.

ECCO also has a wide array of must-have pieces for men—wallets, belts, messenger or laptop bags. These are playful designs in a formal universe—contemporary casual belts, plus wallets generously sized with multiple compartments, making this a wise investment.

Founded in 1963 in Bredebro, Denmark, by Karl Toosbuy and his wife Birte. ECCO products can now be found in over 90 countries at 2,989 ECCO shops and shop-in-shops and 15,000 sales points worldwide. It continues to expand its footwear heritage in the Philippines with its stores at SM Megamall and SM Mall of Asia, plus shop-in-shop concepts at The SM Store. ■

❺ SHOWCASING a minimalist, Scandinavian aesthetic, the relaxed and refined ECCO Casper Backpack is an effortless everyday essential.

❹ ❸

❺

Bea Alonzo is Filipino beauty brand’s new ambassador

POPULAR beauty brand Beautéderm Corp. recently welcomed actress Bea Alonzo to its roster of brand ambassadors, which includes Lorna Tolentino, Sylvia Sanchez, Arjo Atayde, Carlo Aquino, and many other popular names in show business.

The company’s president and CEO, Rhea AnicocheTan has always believed in the power of celebrity in brand marketing and having Bea on board has always been one of her dreams.

The actress, who recently made the news after she left Star Magic to sign up with a new manager (Shirley Kuan), is the endorser of Beautéderm’s newest product Etre Clair Refreshing Mouth Spray.

Etre Clair, an antibacterial mouth spray, is part of the brand’s all-natural health-care line. Made with 100 percent organic ingredients, this mouth spray has antibacterial properties that help ease throat discomfort caused by harmful microorganisms.

Among the product’s claims are that when used three times a day, the product can destroy airborne germs breathed in for up to six hours and stop the growth of harmful bacteria that can cause gum problems, and teeth and gum diseases.

It’s also a product that’s apt for the times as it helps keep breath fresh-smelling.

“It has always been a dream of mine to collaborate with Bea. At first, it really seemed to be a far-fetched

truly worth the long wait. She is so professional and so humble—she is everything that I imagined her to be. This is truly a wonderful birthday gift to me,” said Anicoche-Tan, who celebrated her birthday recently.

“I’ve always been curious about the brand. I like how it has progressed and how its family grew so fast.

A lot of my friends are part of the Beautéderm family, and I’m happy that I can finally endorse this brand alongside them,” said Bea. Just like all Beautéderm ambassadors, Bea gets the royal treatment from Anicoche-Tan, including a photo shoot and billboards along NLEX. More information about Etre Clair and exciting updates on Bea Alonzo and Beautéderm can be found at the brand’s Facebook page and Beautéderm TV on YouTube.

dream because of the humble beginnings of the company, so my team and I worked very hard until the day finally came when it became a reality. It took me 11 years to make my dream come true, and Bea is

CONTINUING QUEST FOR BEST LIP BALM MY favorite lip balm is from La Mer and it’s something I intend to change by finding one that works just as well and costs less.

I will admit though that as far as lip balms are concerned, La Mer is the standard. It works really well. Anyway, among the lip balms I have tried are one from Laura Mercier, another from MAC (I think this is the lip conditioner) and the Lip Glow from Dior (which dries my lips for some strange reason). I’ve also tried drugstore brands and nothing has worked for the long term.

There was one that worked for a while and it was this Japanese brand, called Lip Fondue. I bought it from Shopee for over P500 and for a month, it worked just like La Mer and then one day, it just stopped being effective.

So here I am, with a favorite lip balm with 20 percent left and hesitant to buy a new one and still hopeful that I would find another one like it. If anyone reading this has any suggestions, I would welcome them.

B6 Monday, December 7, 2020

OMD’s Bravery bags gold in Campaign Asia’s Philippines Media Agency of the Year 2020

Novotel Manila heartists make holiday spirits bright and festive

‘T

IS the season to be grateful, share best-loved goodies and all-time holiday favorites as thoughtful little gifts to family and friends. Novotel Manila Araneta City brings cheerful and delicious tidings this holiday season with a line-up of unforgettable dining feasts.

The hotel's culinary selection is sure to end your meal on a festive note.

Share the holiday’s bests and express the season’s greetings with hampers that are prepared with love and thoughtfulness, perfect for everyone

at home or at the privacy of your space. Choose from a wide selection of “Celebration in a Box” with selected cheese, premium cold cuts, honey jar with honey comb, caramelized nuts, olives in a jar, cracker bread, focaccia log, Auro chocolate and a bottle of red wine or opt for “Masagana holiday hamper” with your all-time Filipino favorites such as quezo de bola, smoked tuyo in a jar, Auro chocolate, chili garlic sambal, chocolate chip banana pound cake, holiday pork ham and a bottle of red wine.

Freshly baked and freshly prepared Ube and Cheese Ensaymada, Garlic Cheese Bread, Mochi, Box of Cookies, Auro Chocolates and Chocolate Banana Pound Cake will surely be a hit on your holiday tables.

We've got a list of flavors to curate your own Christmas Feast including a good selection of appetizers, salads, pasta/paella/ roasted chicken, beef, pork and seafood. Holidays are made more cheerful as Novotel Manila invites you to a confectionary and delightful sweet journey. Experience the unforgettable combination of overflowing indulgent goodies from Indulge Gelato, homemade chocolate bars, ube jack fruit and coconut and mango log cakes.

All hotel's goodies are available from December 1, 2020 to January 1, 2021.

There is Christmas feast good for sharing for 4 to 5 persons. The hotel’s finest savories showcase one showstopper after another, boasting aromas to choose from, such as choice of 2 salads or appetizers, 2 hot entrees, 1 rice or pasta and 2 desserts. Compliment it with a choice of a bottle of wine or sparkling juice.

For Christmas Feast and TakeMeOut holiday orders please call, +632 8990 7999 or 0949 886 5591 or email H7090FB1@accor.com.

Coca-Cola partners with OWWA, TESDA, PTTC for OFW RISE Program

A

RMED with fearlessness, OMD Philippines faced a global challenge head on and started a cultural revolution, earning its rightful spot as this year’s Gold Winner in Campaign Asia’s Philippines Media Agency of the Year.

Since the early 1990s, Campaign’s Agency of the Year awards have recognized inspiring leadership, management excellence, out-standing business performance and overall achievements in advertising and brand communications.

OMD has revolutionized internal systems — becoming masters of OMD Design powered by OMNI, the world’s leading People-Based, Precision Marketing Platform. This allowed the agency to adapt to the new normal with empathy- based consumer insights at the heart of its work.

As media and business environments become more challenging, OMD delivered strategically innovative thinking and exceptional service, creating fullyintegrated marketing solutions which are measurable and deliver tangible results.

It gained further strength by harnessing the power

SM-Pasay Tech-Voc Scholarship Program launched

AT THE TURNOVER OF SCHOLARSHIP GRANTS FOR PASAY RESIDENTS, FROM LEFT: Pasay City Public Information Office Head Eduardo Burgos Jr., Protocol Officer Adrian Martinez, and Pasay City Mayor Imelda Calixto-Rubiano; SM Prime SVP for Special Projects Siegfred Ramon Mison; SM Foundation AVP for Scholarship Program Eleanor Lansang; and Don Bosco External Relations Officer Carlo Sigua.

T

Coca-Cola Philippines has partnered with government agencies OWWA DOLE, TESDA, and the PTTC to establish the OFW RISE Program that provides educational and financial support to repatriated OFWs as they stay for good in the country.

W

ITH more than 327,000 overseas Filipino workers (OFWs) returning to the country after being displaced from their jobs abroad due to the COVID-19 pandemic, the Philippine government and Coca-Cola Philippines have joined hands to help these “balikbayanis” bounce back from the crisis by enabling them to rebuild their lives here.

Under the OFW Re-Integration through Skills and Entrepreneurship Program or OFW RISE, Coca-Cola and government agencies Overseas Workers Welfare Administration (OWWA) of the Department of Labor and Employment (DOLE), Technical Education and Skills Development Authority (TESDA), and the Philippine Trade Training Center (PTTC), an attached agency of the Department of Trade and Industry (DTI), have signed a memorandum of agreement (MOA) to jointly develop and implement the program that provides repatriated OFWs the option to become micro-entrepreneurs upon returning to their hometowns.

DOLE Secretary Silvestre Bello III shared that the OFW RISE Program will enable displaced overseas Filipinos to sustain their livelihood as the government remains firmly committed to the productive reintegration of OFW returnees into the country.

According to a survey conducted by DOLE’s National Reintegration Center for OFWs (NRCO), majority or 60% of the displaced overseas Filipinos dream of establishing a business when they return home. The top businesses they have in mind are sari-sari stores, bigasan, water refilling stations, food store or carinderias, meat processing, farming and livestock raising.

The RISE Program gives OFWs access to web-based training on basic

entrepreneurship and business idea development, supported by practical business coaching as well as establishing linkages to livelihood assistance and other microfinancing programs.

Joy Munsayac-Cacal, Public Affairs and Sustainability Manager at Coca-Cola Philippines, said that the participating overseas Filipinos will experience the whole entrepreneurial cycle from idea generation to incubation and implementation, and access livelihood support. She noted that some of our OFWs already have their business ideas, but they do not know how to turn these ideas into an economically viable business. “Under OFW RISE, they will learn how to prepare their own business plan and will have the opportunity to access possible livelihood grants and micro-finance loan through OWWA, DTI, and other microfinance institutions, so that they can start their own business successfully,” Munsayac-Cacal said.

Designed in an edutainment format, the digital course runs for just four hours and can be accessed through the TESDA online learning platform using gadgets that can connect to the internet. The online course is easy to follow and understand which can be accessed while the OFWs are quarantined upon their arrival or upon their return to their home provinces.

Among the business opportunities that will open up to repatriated overseas Filipinos is becoming a Coca-Cola partner as distributors, wholesalers, or resellers of its beverage products under the OFW RISE program’s complementary project, Balik Pinas.

"Through the OFW RISE Program, we will continue to keep their dreams alive so they can keep thriving and providing for their families,” said Jonah de Lumen-

Pernia, Public Affairs, Communications and Sustainability Director at Coca-Cola Philippines.

In its 108 years presence in the Philippines, Coca-Cola has always been there to support micro, small and medium enterprises (MSMEs), especially OFWs, as it believes that with proper access to training and resources, these displaced overseas Filipinos will succeed and rise again.

For business ideas that need bigger capital, PTTC as the DTI’s delivery arm of capacity building programs for MSME development has also launched HEROES or Helping the Economy Recover thru OFW Enterprise Start-ups Program that taps the Small Business Corporation (SB Corp.) for financing.

With a P100 million loan facility, HEROES helps repatriated OFWs rebuild their lives through interest-free and collateral-free loans ranging from P10,000 to P100,000 to be used as working capital to start and sustain their own business.

Aside from HEROES, other government financing and grants and micro financing programs for OFWs are the Balik-Pinas! Balik-Hanapbuhay! Tulong PUSO, DOLE-AKAP, ASA Philippines, Alalay sa Kaunlaran, Inc. (ASKI), and First Community Cooperative (FICCO).

With just a snap of the QR code on flyers and banners placed at the NAIA terminals and quarantine hotels or wherever OFWs are expected to congregate, our balikbayanis can already learn about and apply for the OFW RISE Program.

OFWs can register by visiting https:// cokeurl.com/ofwrise and OFW RISE Facebook page. Other than that, they can also connect through OFWRISEprogram@ gmail.com or mobile hotline number 09772638213.

of specialist disciplines and non-traditional tools such as PR, content, activation, programmatic, search and social.

The resiliency gained 10 new business wins, specialized business unit growth at 30% and a client retention rate of 99%.

On top of its business growth, OMD also achieved recognition from the industry winning a total of 16 awards in MSAP’s (Media Specialists Association of the Philippines) ICE (Insight, Creativity and Effectiveness) Awards.

Omnicom Media Group Philippines President and CEO, Mary Buenaventura, recognizes the vital elements behind this year’s AOY win, “This accolade is a testament to the great work, entrepreneurial mindset and consistent client satisfaction rate from our OMD teams. This is made possible by the leadership by example shown by Carla Jose-Cifra, General Manager of OMD Philippines.”

Carla Cifra says Buenaventura’s guidance kept the team formidable amidst the pandemic. She adds, “We are grateful for this achievement. It’s a milestone that we dedicate to our people, our Omnicom Media Group family.”

O complement the efforts of local governments to provide education for gainful employment, SM Prime Holdings, Inc. (SM Prime) together with SM Foundation, Don Bosco One TVET Phils. Inc and the City of Pasay launched the SM-Pasay Tech-voc Scholarship Program in line with the celebration of Pasay Day on December 2.

Since 1993, SM, through SM Foundation has provided college scholarships to the residents of Pasay City and was able to produce more than 40 college scholar alumni with 29 current scholars.

The quadripartite partnership initially intends to offer a full technical vocational (tech voc) scholarship to 20 competent students from financially challenged families residing in Pasay City. Aside from free tuition fees, the program will also provide monthly allowance and enrichment activities to successful applicants.

The 15-month training is composed of 10 months in-campus academic learning and 5 months On-the-Job Training (OJT) and will start June of 2021 for the

following tech-voc courses: Automotive Servicing NC I; Electrical Installation & Maintenance NC II; Machining NC II; Mechatronics Servicing NC II; Shielded Metal Arc Welding (SMAW) NC II; and Refrigeration and Air Conditioning NC II. The SM-Pasay Tech-Voc Scholarship Program is open to 17-30 year-old residents of Pasay city who have finished at least the 10th Grade (For graduates of the new DepEd curriculum) or HS graduate (For graduates of the old DepEd curriculum), single, and with a total household income less than PHP150,000 per year.

Interested applicants may get the SM-Pasay Tech Voc Scholarship Program application form and apply through the Pasay City Mayor’s office from January 4, 2021 to February 28, 2021.

SM, through SM Foundation, has been providing deserving and qualified students with access to technical-vocational studies since 1993. To date, SMFI has produced almost 5,500 tech-voc scholar graduates nationwide.

Globe’s sustainability practice empowers customers to help frontliners, beneficiaries

E

NGAGING customers in its various sustainability programs is one of the many ways Globe empowers its communities of subscribers and business partners to make an impact and contribute especially during these uncertain times. Among Globe’s sustainability efforts embraced by its customers is the continuous support for frontliners fighting the COVID-19 battle.

So far, over 1,800 customers of Globe Platinum, the country’s premier postpaid brand, have joined Globe in its Thank-A-Hero Program (https://www.globe.com. ph/platinum/thank-a-hero.html). The program, which will last until Christmas, honors the hard work of the country’s frontliners by providing them with tokens as a sign of gratitude.

From initially sending sweet treats to frontliners, Globe Platinum customers will now be able to help those working hard on Christmas eve to celebrate Noche Buena with individual meals that will be delivered to eight key hospitals around the country, namely: Antipolo City Hospital System – Annex 3 (Rizal), Bulacan Medical Center (Bulacan), Corazon Locsin Montelibano Regional Hospital (Bacolod), Quezon City General Hospital (NCR), San Pablo City District Hospital (Laguna), Southern Philippines Medical Center (Davao), Southern Tagalog Regional Hospital (Cavite), and Vicente Sotto Memorial Medical Center (Cebu).

“Being at risk on a daily basis might be a part of the new normal when it comes to the nature of their jobs but giving back to our frontliners is such an important gesture to signify our continued support for all their efforts. Small acts of kindness can go a long way,

making them feel valued now more than ever,” said Mike Magpily, Globe Vice President and Head of Platinum.

Globe myBusiness, the small and medium enterprise arm of Globe, also did its share. Through the Heroes for Heroes program, Globe myBusiness partnered with its food and beverage SMEs clients to distribute free meal packs to hospitals throughout the country.

Globe Rewards, on the other hand, opened its donation channel for various hospitals at the onset of the pandemic. From this, Globe subscribers were able to raise over P36 million in support of 11 hospitals in Metro Manila, Baguio, and Cagayan de Oro. Globe Platinum, in partnership with BGC Arts Center, will host a weekend of arts and crafts workshops (https://www.globe.com.ph/platinum/perks/futureheroes.html) on December 12-13 designed to create therapeutic bonding between parents and kids over weaving ornaments, hand-painting cards, and other activities that bring anticipation for Christmas as a whole. Proceeds from the workshops will be matched

by Globe Platinum for school kits donations to World Vision so that underprivileged kids from Baseco compound can continue studying at home.

Globe remains committed to the 10 UN Global Compact principles and contributes to 10 of the UN Sustainable Development Goals. Visit https://www. globe.com.ph/about-us/sustainability.html.

Marketing BusinessMirror

www.businessmirror.com.ph

Monday, December 7, 2020 B7

THE CORONAVIRUS CHRONICLES:

EVERYDAY GRATITUDE PR Matters

Peggy Anke | www. Pexels.com

By Millie F. Dizon

H

AVING just celebrated Thanksgiving has given us pause to refocus on something that has not been top of mind for some time: being grateful. Of course, finding reasons for gratitude in a world reeling from the effects of the coronavirus, natural disasters, and economic difficulties is not easy.

A nd wh i le ou r l ives h ave changed, we are still thankful that we have somehow adapted to these lifestyle shifts and yes, we are still around. At the same time, we have discovered that with these difficulties come blessings—like closer family ties—that we may have taken for granted in our former frenzied world.

But in good or bad times, an attitude of gratitude is always good not only during Thanksgiving, but in our daily life. An article in PositivePsychology.com cites research that shows that gratitude can improve your physical and psychological health. Grateful people also have an advantage in overcoming trauma, and have an enhanced resilience that helps them bounce back from highly stressful situations. They are also happier people.

It goes on to suggest gratitude practices like journaling, starting a gratitude jar or box; and for kids, activities that appeal to their sense of fun and wonder like creating gratitude tree, and walking around a gratitude garden.

Awards: DDB Group bags 3 metals at Campaign AsiaPacific Agency of the Year Awards

MANILA, PHILIPPINES—DDB Group Philippines received three citations in the recently concluded Campaign Asia-Pacific Agency of the Year awards.

The leading integrated marketing

group’s winning entries this year straddled three different categories— Philippines PR Agency of the Year, Philippines Media Agency of the Year, and Southeast Asia Best Culture.

DDB’s integrated PR solutions firm, Ripple8, Inc., won Silver as Philippines PR Agency of the Year.

Winning in its first year of joining the coveted regional awards made it extra special for Ripple8.

“It is a deep honor to be recognized by Campaign, especially during this pandemic. We never expected to join award competitions this year.

People are our priority. But thankfully, we were able to secure our people’s

Likewise, in an article “8 Ways to Have More Gratitude Every Day,” in ForbesWomen, Janet Miller, says that “a life well lived is one of gratitude and thankfulness.” Here, she shares eight ways to guide us in our daily gratitude journey.

1. Don’t be picky: appreciate everything

“Gratitude doesn’t have to be saved for the big things in life,” says Miller. “The habit of being grateful starts with appreciating every good thing in life and realizing that there is nothing too small to be grateful for.”

Even if it as simple as appreciating good weather, a warm greeting from a colleague, or quick service in a restaurant. “Don’t leave anything out when practicing gratitude.”

2. Find gratitude in your challenges

There is, believe it or not, a silver living behind the challenges we experience, especially during these times. We learn to work harder, become more resilient, and look for creative and innovative solutions.

That way, we become better and kinder persons.

“Gratitude is not only about being thankful for positive experiences,” says Miller. “Dig a little deeper into some of your own past experiences and try to figure how they have helped shape you into the person you are today.”

jobs and found opportunities to grow even stronger. Crisis indeed reveals character. We are grateful to our neversay-die team, our collaborative clients, and our supportive sister agencies for making this possible,” said Ripple8 Managing Director Bob Vito.

R8 believes in disruptive solutions to change the dynamics of how clients run operations and the perception of stakeholders. As its strategies and content are informed and augmented by data-based insights, the agency has created a specialization in its integrated PR solutions called predictive PR. DDB’s independent media outfit Touch XDA, Inc. won Bronze

3. Practice mindfulness

Miller suggests that we “sit down daily and think through five to ten things you are grateful for. Doing this everyday will rewire your brain to be naturally more grateful, and you’ll start feeling happier after each session."

She adds that, “your brain is a powerful tool and training it towards gratitude is all part of ensuring that the gratitude comes more easily as you practice.”

4. Keep a gratitude journal

Keeping a journal of all of the things you are thankful for can help you keep track of and refer back to your positives in life, says Miller.

She says, “you can journal every day after your gratitude practice, or you can come back to the journal on a regular basis weekly or monthly.”

In the process, we can appreciate all the things we have to be grateful for in our everyday life.

5. Volunteer

Helping others can help you!

For many people, Miller says that “the key to having more gratitude is to give back to others in their local community. Not only will it make you more grateful for the things that you may take for granted, but studies have shown that volunteering for the purpose of helping others increases our own well-being, and thus our ability to have more gratitude.”

In fact, in his research Flourish:

as Philippines Media Agency of the Year. One of the growing local media agencies in the Philippines, Touch XDA has enjoyed record new business wins, and comprehensive revenue growth across organic, new business, and agency partnership despite the pandemic.

“We are grateful that our first time with Campaign Asia-Pacific has given us such honor. We dedicate this to our hardworking teams as well as to our clients and partners who have trusted us,” said Touch XDA Managing Partner, Dyan Rosal-Em. Last but not the least, DDB Group Philippines won a Silver award as

A Visionary New Understanding of Happiness and Well-Being, University of Pennsylvania professor Martin Seligman tested all kinds of variables that help improve our well-being, and found that volunteering is the single most reliable way to momentarily increase your well-being.

6. Express yourself

What we consider a simple “thank you” can actually work wonders.

After all, “not only does expressing your gratitude for someone make their day a little brighter,” says Miller, “but it can do wonders for increasing your own levels of gratitude and happiness in the long run.”

Soul Pancake, a group that works to discover “the science of happiness,” recently ran an experiment where it encouraged people to write a letter to a person they were grateful for. While this exercise increased their levels of happiness from 2 to 4 percent, making a phone call to thank the person they were thankful for saw a leap in their happiness levels from 4 percent to 19 percent.

7. Spend time with loved ones

Miller says that spending time with friends and family will not only help you grow closer to them and strengthen your relationship, but will also give you a chance to practice your acts of gratitude on people you care about.

Southeast Asia (SEA) Best Culture for the second consecutive year. In the past years, the agency group had won several metals from Campaign under Talent Development, Corporate Communication, and SEA Best Culture categories. A testament to how DDB has nurtured and motivated the Group’s talents through purposeful and progressive training opportunities, a culture of holistic health, a fun and accepting environment, and strategic communication program.

DDB Group Philippines Culture Chief Anna Chua-Norbert said that she is immensely proud that DDB has been recognized as “Agency of

When together, you can “listen intently the next time someone shares a story with you instead of waiting for your own chance to speak. Or start a conversation with a difficult member of the family by complimenting their new shoes or haircut.”

8. Improve happiness in other areas of your life

“Being grateful can make you happy, but being happy can also make you grateful,” says Miller.

She suggests looking into other ways that make us happy like exercising or participating in a hobby you enjoy.

Once you get into the flow of things, “showing gratitude will become even easier and you’ll start to be able to make list after list of all the things in your life you’re thankful for.”

PR Matters is a roundtable column by members of the local chapter of the United Kingdom-based International Public Relations Association (Ipra), the world’s premier association for senior professionals around the world. Millie Dizon, the senior vice president for Marketing and Communications of SM, is the former local chairman.

We are devoting a special column each month to answer the reader’s questions about public relations.

Please send your comments and questions to askipraphil@gmail.com.

the Year” in the last five years, and thanks Campaign for all the recognitions that have served as inspiration to the group’s employees throughout the years.

We all know that 2020 has been an unprecedented year for everyone and I have been humbled to see how our people have come together to support not only each other but our clients during these extraordinary times. This award is truly a reflection of all the hard work and dedication of our employees, and the strength of our belief in ‘People First.’ It is a fitting tribute to our people who have made all these possible,” she said.

B8

Monday, December 7, 2020

Sports BusinessMirror

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

MEN’S BASKETBALL, WOMEN’S VOLLEY ONLY IN UAAP S83?

By Josef Ramos

T

ABBY AREVALO: Anything can happen at Langer, which is my favorite course in the country.

Arevalo targets repeat at Langer in LPGT tourney

R

ETURNING to the very scene of one of her biggest amateur triumphs should more than motivate Abby Arevalo—not just in stopping a fancied Princess Superal but more so in scoring a breakthrough two tournaments into her pro campaign.

The San Jose State U product finished second to Superal in the first of two Ladies Philippine Golf Tour (PGT) bubble tournaments, the International Container Terminal Services Inc. (ICTSI) Riviera Invitational Challenge at the Couples course three weeks ago. But the ICTSI Riviera Championship firing off Tuesday evokes warm memories for the rising star who spiked a brilliant amateur career with a thrilling victory at Riviera’s Langer course three years ago.

“Anything can happen at Langer, which is my favorite course in the country. I definitely have a lot of confidence playing it,” said Arevalo, who birdied No. 18 to nip then brand-new pro Pauline del Rosario by one and snare the LPGT Riviera crown in 2017, joining the elite roster of amateurs who have won in the country’s premier ladies circuit.

“I’ve never been so excited to come back and play Langer again. I know the course well. I won my first pro event as an amateur at Langer and I’m not afraid to do it again,” said the 2020 Philippine Ladies Open runaway champion.

She, however, won’t disclose what she believes are factors to consider in tackling the dreaded par71 layout where dangers lurk practically in every corner but said: “My plan is to play my own game and manage my shots well.”

Like the rest of the bidders in the P400,000, 54-hole championship put up by ICTSI, Arevalo has opted to downplay her chances but stressed her desire and determination to emerge on top on Thursday.

“I got no expectations but I know I have the ability and competence to win,” she said.

But Superal is likewise brimming with confidence, vowing to go all-out for a sweep of the two LPGT tournaments in the pandemic-hit season while the likes of Pauline del Rosario, Chanelle Avaricio, Chihiro Ikeda, Marvi Monsalve, Cyna Rodriguez and Gretchen Villacencio are all geared up for a three-day test not only of shotmaking but also endurance at the up-and-down, long ravine-laced layout.

That should guarantee a fitting ending to LPGT’s restart in new normal after an eightmonth hiatus due to the global health crisis.

WO of the country’s oldest school leagues— the 96-yearold National Collegiate Athletic Association (NCAA) and the 83-year-old University Athletic Association of the Philippines (UAAP)—has already written off Covid-19 pandemic year 2020 from their calendars.

And although both leagues are enthusiastic at returning to action, neither is comfortable at playing a full program in 2021 with the NCAA eyeing only four sports—basketball, volleyball, swimming and athletics—and the UAAP targeting only two events—

K

AKOU ANGE FRANCK WILLIAMS KOUAME already has his roots embedded on Philippine soil and admits he feels and acts like a Filipino now.

What’s left to accomplish are his naturalization papers and off he goes with his commitment to help the men’s national team program.

“I am praying to God [for my naturalization].

I want to say thank everyone who is supporting me,” Kouame told BusinessMirror. “It’s been a tough year for all of us and I just want to make everybody happy—and that’s my goal for now.”

Tab Baldwin, the Samahang Basketbol

men’s basketball and women’s volleyball.

NCAA Season 92 Management Committee Chairman Fr. Victor Calvo of Letran confirmed the league’s intention of staging only four from the normal 11 sports, citing the absence of a vaccine remains a primary concern.

“It’s for the safety of the student athletes and for everyone,” Calvo told BusinessMirror on Sunday.

No one from the UAAP board of directors, including from season host De La Salle, agreed to be named as sources of what BusinessMirror learned that the league would focus on only two of its most popular events for Season 83.

The same reasons bordering from safety to the availability of a vaccine is prompting

ng Pilipinas program director, said Kouame is for the long haul for Gilas Pilipinas, adding it would be better to invest in Kaoume over National Basketball Association and European players because of his commitment and availability.

“He has adopted with the local players and the country,” Baldwin said.

SBP officials are hoping for the naturalization of Kouame in time for the

T

third window of the International Basketball Federation Asian Qualifiers in February. Gilas played all-homegrown and all-amateur in the second window in Bahrain where they swept Thailand in two games.

Kouame said he is focusing his 6-foot-10 frame on defense.

“It’s my defense for sure

Pros all fired up for season’s final 2 bubble tournaments

T

HE last two bubble tournaments in the Philippine Golf Tour (PGT) restart begins Tuesday at the Riviera Golf and Country Club in Silang, Cavite, with the protagonists putting emphasis on shotmaking and putting—plus a lot of endurance.

The par-71 Langer course was spruced up to championship condition for the International Container Terminal Services Inc. (ICTSI) Riviera Championship and unlike in the ICTSI Riviera Invitational Challenge at Couples three weeks ago, the upcoming 72-hole event promises to be a test of will and character given the layout’s length which measures up to more than 7,000 yards and hazards that come into play in most holes.

There are also the terrors lurking on the sleek putting surface to consider and conquer.

“Tony [Lascuña] can be beaten. At Langer,

it’s more of a question of endurance since it a long course,” said multi-titled Jhonnel Ababa, who struggled with a wrist injury and tied for 19th the first time out, in Filipino. “But I’m good and I expect to be in the mix this time.”

Lascuña ran away with a four-shot victory over Ira Alido and Rupert Zaragosa at Couples but the seasoned campaigner believes scoring a sweep would take a lot of hard work and luck.

“I expect a tougher challenge as Langer is a long course and there are so many tests to consider and overcome along the way. Every shot counts and one also has to be a sort of lucky to win,” Lascuña said. “Besides, there are just too many strong players ready and raring to win.”

The young Alido, for one, is due for a breakthrough after a number of close stabs at

A

YEAR ago today, young arnisador Abegail Dulawan Abad was on cloud nine for having won one of the 14 gold medals the Philippines hauled in arnis when the country hosted the 30th Southeast Asian Games.

A large haul for a Philippine contingent in the sport our forefathers developed, mastered and propagated all over the world as an effective martial art for self defense.

“It was unexpected. At first it didn’t sink in to me that I won a gold medal,” said Abad, who beat Nguyen Thi Cuc of Vietnam in the gold medal play of the +60kg padded stick

women’s category.

“Then eventually, I realized that ‘ah yeah I really won.’ I trained hard for that so I thought I deserved to win,” the 20-year-old Abad said.

The Philippines emerged overall champion with 149 gold, 117 silver and 121 bronze medals in what went down as the country’s best performance ever in the biennial regional games that was also described as the best games ever.

Abad, a native of Baguio City, was introduced to arnis at 13 by her high school teacher Mary Ann Grace Bolla at the Remnant International College also in Baguio City.

“She was the one who encouraged me to play arnis and then she helped us, me and my

Juico said they expect two more teams to join the season. He didn’t name these teams but bared that the PSL Beach Volleyball Challenge Cup will open the season in a bubble environment in Subic from February 25 to 27.

The Subic tournament was set from November 28 to 30 but was postponed because of the two typhoons that ravaged Luzon.

After the beach volleyball tourney, the league will hold the PSL Fans Day in March before rolling out the All-Filipino Conference on March 13.

There will be a brief break to give way for the Lent, but the league will prepare for the

and I can be a good help for the Philippines,” said the 22-year-old Kouame, who averaged 12.5 points, 14 rebounds and 5.5 blocks in the University Athletic Association of the Philippines Season 82 tournament.

Kouame, an Interdisciplinary Studies sophomore, debuted for Ateneo in 2018 and won the Rookie of the Year honor and helped the school win two of its three straight UAAP crown.

Josef Ramos a first victory with the 19-year-old hoping to ride on her closing 69 at Couples that earned him a joint second effort with Zaragosa, whose game many believe suits best at the tight Langer layout.

“My expectations remain the same before I compete in every tournament—with a mindset that I can win,” Alido said.

But the likes of Miguel Tabuena and Angelo Que are still tipped to bank on their power as they seek to make up for their fourth place and tied for seventh finishes, respectively, at Couples.

Tabuena, who has vastly improved on his length during the long break, is likely to settle down and produce the kind of game expected of him while Que is raring to stamp his class over a field that features Justin Quiban, Fidel Concepcion, Jay Bayron, Michael Bibat, Albin Engino, Rico Depilo and Dutch Guido van der Valk.

JHONNEL ABABA expects to be in the mix this time.

No pandemic issues for arnisador Abad

By Annie Abad

“If there is no vaccine yet by first quarter of 2021 and still no face-to-face classes, the only option is to hold tournaments in a bubble. We will discuss budget for potential bubble soon,” Far Eastern University’s board of of the UAAP board Mark Molina said.

Jojo Posadas, athletics coach of reigning UAAP champion UP and also mentor of the Jose Rizal University team in the NCAA, said a scaled down season would impact the league although such a decision is imperative under the circumstances.

“As far as our previous meeting is concerned, I’ve heard that they [league officials] are not comfortable yet especially because there is still no vaccine and the schools don’t want to take the risk,” Posadas said.

The leagues will be broadcast over two new networks after ABS-CBN shut down with Cignal/TV5 bagging the UAAP and GMA Network securing the NCAA.

Kouame eager to play for PHL flag and country

high school friends to develop our skills even more,” she said.

“Of all the sports I tried, I learned to love arnis because it is unique, besides it is our national sports,” she said. “The love of playing our national sport just makes me so proud of being a Filipino.”

The Covid-19 pandemic lulled Abad’s trek, so to speak, as everyone else. But Abad viewed the situation as half full and not half empty.

“I learned to save. I went online, watched some educational videos on how to save up and spend the money wisely,” she said. “I kept myself busy just to overcome anxiety during the lockdown.

Abad and her national teammates were tasked to take videos of their train-at-home

program and sent them to their coaches for evaluation.

“I’m busy with my online classes now and of course, my online training,” said Abad, the fourth in a brood of five by her parents Pepito and Fe. Abad is now a Nursing freshman at the University of Baguio and hopes to someday bring her winning act to the health service.

ABEGAIL DULAWAN ABAD makes sensible use of lockdown.

BLEACHERS’ BREW

Rigodon atop football tables I AM massively enjoying this Premier League 20-21 season. Every weekend, we see the top of the table change hands.

It is an indication of the competitiveness of the league while defending champion Liverpool struggles with a multitude of injuries that has befallen nearly the entire first team including some key bench players.

Right before the season began, I saw a survey where fans were speculating which manager would be among the first fired—Manchester United’ Ole Gunnar Solskjaer or Tottenham’s Jose Mourinho.

Well, the Red Devils have fought all the way from 17th in the league (early in the season) to #4 after last Saturday’s matches.

Tottenham is second.

I was also listening to other pundits share their observations and many said it will come down to Liverpool and Manchester City once more (as it has been in the last two seasons). The Citizens have also fought back from a rash of injuries that saw them at 15th spot to now at fifth place; on the outside looking in the top four (that guarantees UEFA Champions League sports for the next season).

The league’s early leaders—Everton and Aston Villa who were both at 4-0 at one point have dropped in the standings.

Everton drew 1-1 with lowly Burnley and are now at ninth. From 4-0 they are now at 5-2-4.

Aston Villa is at 11th with a 5-0-4 slate.

Leeds United impressed with their first four fixtures but have since lost their way. They scored early against Chelsea this weekend but eventually lost, 3-1. Now, they are at 4-2-5.

Everton’s Coach Carlo Ancelotti and Leeds’ Marcelo Bielsa, both the toast of the league early in the season...well, now they aren’t being mentioned much.

The unpredictable season is now looking “normal” as the six squads that have contested these positions are once more back in place— Chelsea, Tottenham, Liverpool, Manchester United, Manchester City, and Leicester. Arsenal, not being a power in the last few years, is at 14th. The good vibes of its late season success (2019-20) and this year’s Community Shield have been forgotten.

While it is looking like the league is back to normal, I think this so-called new normal isn’t done yet. All the squads are bunched close to each other. A win here, a loss there, sees the standings re-arranged every playdate.

So it is entirely possible that teams like West Ham, Southampton, Wolverhampton, and Everton and Aston Villa can find themselves in the thick of the fight in a matter of a few games and positive results.

Add to that issues such as VAR, the tightlypacked schedules, and the call for five substitutes (and the verbal sparring between some managers), this has been a most exciting and nerve wracking season.

If you look laterally at the Spanish La Liga, Atletico Madrid and Real Sociedad—yes, Real Sociedad—are both first and second respectively while Real Madrid is third.

Cadiz is on the outside at fifth after its huge 2-1 win over struggling Barcelona (seventh with a 4-2-4 slate).

The Italian Serie A and German Bundesliga have their surprises. In Italy Sassuolo is at fourth with a 5-3-1 record. As for the top tier league in Germany, I like the fact that 1. FC Union Berlin is at sixth place. They could make a play for fourth spot.

Crazy times, but definitely interesting.

Stakeholders support summit

Superliga draws busy 2021 sked HE Philippine Superliga (PSL) drew a busy and explosive 2021 season following a year of inactivity because of the Covid-19 pandemic.

PSL Chairman Philip Ella Juico said the 2021 calendar underscores the league’s all-out support to the national team and grassroots program.

Three teams—Petron, Generika-Ayala and Marinerang Pilipina—are taking the season off though, but Juico said the league remains active with guest team Petro Gazz joining the field composed of F2 Logistics, Cignal, Chery Tiggo, Sta. Lucia and PLDT Home Fibr.

the UAAP to hold an asterisked season. Both leagues was shut down from 1941 to 1946 because of World War II. UAAP board member Dean Francisco “Kiko” Diaz of the University of the Philippines (UP) told BusinessMirror on Sunday that the league’s trustees composed of the eight member universities’ presidents are holding an emergency meeting this week and will make an official announcement through Season 83 President Emannuel Calanog.

“We are just waiting for the board of trustees meeting this week. So far, we’re not allowed to speak,” Diaz said. “All options were presented to the board of trustees, and it’s up to them to decide. It will be the general policy statement for Season 83.”

RICK OLIVARES bleachersbrew@gmail.com

Asian Volleyball Confederation Asian Women’s Club Championship from April 11 to 18 in Taipei.

“We promise to be back with a bang,” said Juico, a former Philippine Sports Commission chairman and president of the national athletics federation.

The PSL will hold the Collegiate Grand Slam from July 10 to August 14.

The first Collegiate Grand Slam was held at the Smart Araneta Coliseum in 2018 with University of the Philippines emerging victorious. University of San Agustin in Iloilo City hosted the 2019 with De La Salle University winning the crown.

C

LOSE to 300 participants attended the online Second Professional Sports Summit on Saturday with the organizing Games and Amusements Board (GAB) securing full support from pro sports stakeholders “The summit exceeded our expectations. During the start of the year when the pandemic started, the future of sports was very dark and with no hope in sight,” Chairman Abraham Khalil Mitra said.

“Who would have known at the end of

the year and even amid the Covid-19 pandemic, that the GAB family would grow into having to welcome and embrace more members of its pro sports family,” he added.

The GAB held the inaugural summit in September last year at the Philippine International Convention Center with more than 600 participants from all over the world.

Saturday’s summit drew professional boxer Gerry Penalosa, Grandmaster, Eugene Torre and billiards greats Efren “Bata” Reyes and Django Bustamante.

Also present in the virtual summit were Philippine Football League Commissioner Koko Torre, Philippine Football Federation secretary general Atty. Edwin Gastanes, Premier Volleyball League head Ricky Palou, World Boxing Council (WBC) President Mauricio Sulaiman and WBCA Cares International chairman Jill Diamond.

The summit gathered professional athletes and organizations to gather their ideas and best practices related to the socalled new normal. Annie Abad