BusinessMirror December 22, 2020

Megawide, partner seek return of OPS on Naia

By Lorenz S. Marasigan

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@lorenzmarasigan

Josue Dacame, 60, a former sculptor who suffered a stroke during the pandemic, checks on his papier mache and cement work on Dr. Jose Rizal, a few days before the nation remembers the national hero’s martyrdom. The Manila-based artist said a client commissioned the work seven years ago, but for some reason didn’t get it. Now it is displayed beside his house. NONIE REYES

EGAWIDE Construction Corp. and partner GMR Infrastructure Ltd. have officially filed a motion for reconsideration to overturn the revocation of their original proponent status (OPS) for their P109-billion proposal to redevelop the Ninoy Aquino International Airport (Naia).

Signed by authorized representative Louie B. Ferrer, the motion for reconsideration underscored the

group’s need for “equal treatment,” as they viewed the revocation of the OPS as a decision made hastily, when compared to the two-year negotiation that the government had with the first proponent of the same project.

“We respectfully point out as well that since the government had negotiated with the earlier proponents—otherwise known as the Super Consortium—for two years, it would be in keeping with good practice and fair play for us to be also afforded a reasonable period within which to negotiate with

the government and submit all the necessary documents to show our capabilities,” the motion read.

The Manila International Airport Authority (Miaa) issued the OPS to Megawide in July 2020, a few weeks since Super Consortium backed out of the project due to commercially unviable government demands. The proposal was then reviewed by the Miaa, the Department of Transportation (DOTr) and the National Economic and Development Authority (Neda).

T h e N e d a ’s I n v e s t m e n t

Coordination Council found later on that Megawide was supposedly incapable of funding the equity portion of the proposal, a finding that is contrary to Megawide’s interpretation of the rules and regulations of the Build-Operate-Transfer Law. Megawide then submitted various documents that support its claim that it can fund the project through its partnership with GMR, as well as the issuance of preferred shares to raise fresh capital for the airport project.

Continued on A2

PHL TO BORROW $325M w

n

Tuesday, December 22, 2020 Vol. 16 No. 75

P25.00 nationwide | 2 sections 22 pages |

MORE FOR VACCINES PHL STARTs VACCINE TALKS WITH MODERNA

BY YEAR-END: LOCSIN

Foreign Affairs SecretaryTeodoro L. Locsin Jr.

BM

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A member of the police Special Action Force (SAF) guards shoppers at Ylaya Street in Divisoria, Manila, as a big tarpaulin reads: “Distancia para hindi masakay sa ambulancia [Keep distance to avoid being ferried in an ambulance].” The City of Manila deployed hundreds of policemen as the surge of shoppers is feared to fuel a new surge in Covid-19 cases. ROY DOMINGO

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By Bianca Cuaresma

@BcuaresmaBM

HE Philippine government is seeking approval to borrow $325 million from Asian Development Bank’s (ADB) new financing facility. This, the government said, will help the country fund its efforts to procure vaccines for the country.

Speaking in a press briefing on Monday, ADB country director Kelly Bird confirmed that the Philippine government has already placed a request to borrow $325 million from the ADB’s Asia Pacific Vaccine Access Facility (APVAX).

The APVA X was launched on December 11 to offer “ rapid and equitable support” to its developing members as they procure and deliver Covid-19 vaccines.

ADB has allotted $9 billion for the region-wide vaccine funding

initiative.

APVAX has two components.

First, the rapid response component where financing will be used for the actual procurement of the vaccine and the logistics cost.

Second is the project investment component where the funds will be used to fund the necessary infrastructure to store and distribute the vaccine.

The Philippines’s $325-million request falls under the rapid response component, which means that the Philippines will use the funds to buy vaccines for the local population.

Bird said since the Philippines’s request, the ADB team has already been working “closely and intense-

ly” with the government to carry out the technical background work required.

ADB’s criteria

For the Philippines’s loan proposal to be approved, the government must adhere to APVAX’s criteria.

According to ADB, for a vaccine to be eligible for financing, it must meet one of three criteria: either it must be procured via Covax—a global initiative that brings together governments and manufacturers to ensure vaccines reach those in greatest need, prequalified by the World Health Organization (WHO), or authorized by a Stringent Regulatory Authority.

Continued on A2

HE Philippines will start talks with Moderna Inc. on or before December 30 to secure supply of the company’s coronavirus vaccine, Foreign Affairs Secretary Teodoro L. Locsin Jr. said Monday.

“Moderna is interested in giving an allocation,” he said in a livestreamed inter view with CNN Philippines, citing Philippine ambassador to the US Jose Manuel Romualdez.

The Philippines is also assured of 30 million doses of Novavax Inc.’s Covid-19 vaccine candidate, which will be produced

by Serum Institute of India, Locsin said. It would be available in July, “possibly with no cash advance,” he said, and the “term sheet might be signed before the year ends.”

Locsin’s announcements comes on the heels of frenzied exchanges between government officials and critics, after the DFA chief tweeted last week that someone had “dropped the ball” in negotiations for 10 million doses of vaccine from Pfizer, thus setting back the timeline for a crucial shipment.

Romualdez had been in touch with Pfizer and Moderna since Locsin secured a commitment from US Secretary of State Mike Pompeo that the US will help Manila source vaccines as nations scrambled in a race to get the first shots against the deadly infection.

PAL domestic flights up 103% from Nov. 2020

By Recto Mercene

@rectomercene

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LAG carrier Philippine Airlines (PAL) said on Monday it has increased domestic flights on various routes in line with its network restoration plan and in time for the holiday season.

At the same time, PAL has resumed services to 15 additional

destinations—increasing the PAL network to a grand total of 25 domestic and 32 international flights.

The expanded lineup of flights is so far the flag carrier’s biggest ramp-up of domestic commercial operations this year—a 103-percent increase in PAL flights vs.

November 2020 levels—as the local travel industry continues to bounce back gradually with

PESO exchange rates n US 48.0560

the calibrated easing of travel requirements, reopening of tourist routes and enhanced health and safety protocols.

PAL has doubled services on the prime trunk route between Manila and Cebu, from 14 to 28 round-trip flights weekly since December 1.

Flights between Manila and Cagayan de Oro will rise to three

times daily, while flights between Manila and Tacloban were doubled to two times a day.

The flag carrier has launched or resumed services to Antique, as well as to Catarman and to popular tourist destinations Coron (Busuanga), Siargao and Boracay. PAL operates up to two flights daily to Boracay’s Caticlan Airport from Manila.

See “PAL,” A2

n japan 0.4642 n UK 64.4239 n HK 6.1993 n CHINA 7.3497 n singapore 36.1568 n australia 36.4505 n EU 58.7437 n SAUDI arabia 12.8105

Source: BSP (December 21, 2020)

News

BusinessMirror

A2 Tuesday, December 22, 2020

www.businessmirror.com.ph

DOH on alert for new Covid PAL domestic flights up 103% strain in UK as cases rise

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By Claudeth Mocon-Ciriaco | Correspondent

HE Department of Health (DOH) is stepping up its monitoring following the reports of a new, more easily transmissible strain of Covid-19 found in the United Kingdom (UK).

Health Undersecretary Maria Rosario Vergeire said, however, the new variant is not yet in the country, per monitoring by the Research Institute for Tropical Medicine (RITM).

“We’ve coordinated with the

Research Institute for Tropical Medicine regarding this matter when we received the report, and accordingly, according to RITM sa ngayon, wala pa silang nakikitang bagong strain sa ating bansa [As of now, there is no new strain yet in

Health Undersecretary Maria Rosario Vergeire said, however, the new variant is not yet in the country, per monitoring by the Research Institute for Tropical Medicine (RITM).

the country] based on their monitoring,” Vergeire said in an online media briefing.

To be able to detect the new strain immediately—which reports say may be up to 70 percent more transmissible than the old one— she stressed, “we will be furthering this monitoring.”

The Covid-19 cases on Monday surged to 461,505 after an additional of 1,721 infections were logged.

On the other hand, Vergeire said that there is still no need to impose travel restrictions, noting that strict lockdown was already imposed there and that all flights to and from the UK were halted.

She said that besides Filipino citizens, the government only allows diplomats and individuals with businesses to enter the Philippines.

PHL TO BORROW $325M MORE FOR VACCINES Continued from A1

The Philippines must also present a “vaccination needs assessment” and a “vaccine allocation plan” to prove that the country will prioritize vaccinations for the vulnerable members of its population.

A mechanism for effective coordination should also be presented to ensure that the APVAX’s financial aid will be fairly and effectively implemented.

Vaccine fund timeline

While Bird did not specify the timeline of approval for the Philippines’s vaccine loan proposal, he said they are working closely with the Department of Finance (DoF) to expedite the country’s funding request.

“It’s important that the Covid-19 vaccines to be financed and procured, would be those that meet ADB’s eligibility criteria. The pro-

curement would follow ADB’s procurement processes. And under this new facility, these are also made more flexible and fast-tracked,” Bird said.

“We are in close discussions with the Department of Finance and the Department of Health, and we aim to bring the Philippine long proposal to our board of directors for formal consideration very, very quickly,” Bird further said, adding that the DoF and ADB team are “working intensely” even over the Christmas and the New Year period to get the loan approved.

The ADB official said they will also provide technical assistance to the government to provide capacity support, monitoring supply needs and other requests on a demand basis.

PHL’s rising debt

Just last week, ADB approved

its sovereign lending to the Philippines, which is expected to reach $9.4 billion between 2021 and 2023. At least two-thirds of this is going into infrastructure, health, and employment recovery to help the government revitalize the economy amid the Covid pandemic.

Bird said the Philippines’s $325-million vaccine loan proposal is separate from the approved $9.4 billion pipeline.

“This is a new facility and it will not impact the lending pipeline for the Philippines for 2021 to 2023.

And as I’ve mentioned, we approved our new lending pipeline last week, and that provides for funding on infrastructure, health projects, employment projects up to about $ 9.4 billion over that period,” Bird said.

“But this vaccine financing is over and above that lending pipe-

line,” he added.

As of late November, the Philippine government has so far secured $10.61 billion in loans and grants to boost its pandemic response.

Asked if the Philippines has already been borrowing too much, Bird expressed confidence that the country has enough space to handle its loans.

“The Philippines has a very strong fiscal situation coming into the crisis. They have significant fiscal space [and] a fiscal program that was announced a few months back for 2021 and 2022,” Bird said.

The ADB official said the country’s debt-to-GDP ratio is “still relatively low for a country that has a triple B plus rating.”

“So at this point in time, the country has quite strong fiscal fundamentals and debt is not really a concern,” he added.

Megawide, partner seek return of OPS on Naia Continued from A1

The consortium submitted these, including other requirements like a joint solidary agreement, on November 20 and December 1. The OPS of Megawide was revoked on December 15, after a December 4 meeting that based the revocation on the Neda’s earlier findings.

During a Senate hearing, Transportation Secretary Arthur P. Tugade said the consortium may file an appeal before the Miaa board, which will soon convene to discuss the merits of the motion for reconsideration.

“In view of the foregoing, Megawide GMR Consortium is hereby respectfully requesting for the reconsideration of the Miaa Board resolution revoking Megawide GMR Consortium’s OPS for the Naia Project, and pray for the reinstatement of such OPS,” the motion for reconsideration read.

As this developed, advocacy group The Passenger Forum (TPF) has asked the Miaa board to meet “in the soonest possible time” to evaluate the merits of the consortium’s plea.

“It is in the interest of passengers

to ensure that the Naia rehabilitation project will push through in the soonest possible time. We just hope that Megawide’s submissions are sufficient to prove they are qualified in rehabilitating our primary international gateway,” TPF Convenor Primo Morillo said.

Megawide has proposed to implement the P109-billion project in three phases.

The first phase includes the immediate improvement of the airside and landside segments of Naia through the improvements of the existing terminal and the optimization of the existing runways.

The second phase involves the construction of a new passenger terminal building and the improvements of the apron and taxi lane to provide access to the new terminal. The group will also relocate the cargo terminal and the fuel farm to accommodate the new terminal building.

The last phase will see the group building a rail-people mover system that will allow passengers to move

from one terminal to another through an overhead railway system.

2 other proposals

Should Megawide fail to win this appeal, the government has two more unsolicited proposals for the Naia lined up: one from Philippine Airports and Ground Services Inc. and another from San Miguel Corp. (SMC).

Reportedly, SMC President Ramon S. Ang said his group’s proposal was purely for the operations and maintenance of the old airport, and does not include construction works, as his group intends to make the airport closed in a decade, when the Bulacan International Airport will be opened for commercial use. SMC is developing the said airport.

Think tank Infrawatch Philippines Convenor Terry Ridon warned the government to only consider proposals for Naia that include the rehabilitation and reconstruction of the air hub, and not those that are purely for the operations and maintenance of the aiprort.

“Regardless of project proponent

or proposal, there should be no doubt that what Naia needs today is rehabilitation of a massive scale, befitting its status as the country’s premier international airport. Any talk of anything less, such as mere operations and maintenance proposals, should be outrightly dismissed as irrelevant and contrary to the vision of the President for a multi-airport strategy for the Greater Capital Region,” he said.

Ridon added that mere operations and maintenance proposals from the private sector contravene government’s Naia rehabilitation plans.

“Miaa should reject O&M proposals from the private sector, because aside from not bringing anything new to the table, it will not transform Naia into a world-class airport all Filipinos can pride themselves in.

More importantly, any O&M proposal will only duplicate the already good work the agency has been undertaking in operating the airport, despite no government funding and reliant only on internally generated income,” he said.

from Nov. 2020

Continued from A1

PAL’s Cebu hub continues to expand with flights to Clark, Puerto Princesa, Legazpi, Bacolod, General Santos and Siargao. PAL is likewise operating regularly from Davao to Zamboanga and vice versa.

PAL revived its service to Tagbilaran (Panglao airport) in November after the reopening of Bohol province to domestic tourism.

The airline is increasing flight frequencies on most domestic routes, including those from Manila to Laoag, Legazpi, Puerto Princesa, Kalibo, Cotabato, Butuan, Ozamiz and Pagadian; and likewise between Cebu and both Davao and Butuan.

According to Harry Inoferio, PAL Senior Assistant Vice President for Philippine Sales, “We are mobilizing more aircraft and hiking flights throughout our network to further help boost the recovery of the economy, including the tourism sector which is a major provider of jobs and business. At the same time, we are here to help our fellow Filipinos come home to be reunited with their families this Christmas and fly them back to their residences and work sites abroad.

The airline is adding more flights to New York, Honolulu, Guam, Jakarta, Bangkok, Tokyo, Osaka, Nagoya, Hong Kong, Taipei, Dammam and Riyadh.

The long-awaited global launch of the Covid-19 vaccine contributes to the cautious optimism of the Philippines’ travel and tourism sectors. PAL is readying its fleet of widebody aircraft for the task of transporting vaccines to the Philippines and around the region.

With passenger health and safety as a priority concern, PAL has set up a One-Stop-Shop center at Naia Terminal 2 that augments the national government’s existing facilities to conduct mandatory RT-PCR swab testing for arriving passengers.

Recently, the airline opened a testing center at the PAL Learning Center in Ermita, Manila, that conducts RT-PCR tests for PAL passengers who are taking domestic or international flights, with test results released within 12 to 24 hours.

The flag carrier continues to operate repatriation flights that bring home stranded OFWs and other Overseas Filipinos from all over the world, along with all-cargo flights to transport essential goods.

‘After raising Unclos Award, PHL should move more on WPS’ Continued from A14

On July 23, 2020, Australia sent a note verbale to the UN rejecting China’s claims in the South China Sea. It stated, among others, that the “Australian Government...disputes China’s claim that it is not bound by the Arbitral Award...[T]he Tribunal’s decision is final and binding on both parties to the dispute.”

On September 16, 2020, the United Kingdom, France and Germany sent a joint note verbale

to the UN invoking the primacy of Unclos and the importance of freedom of navigation and overflight in the South China Sea. These countries declared that China’s “historic rights” in the South China Sea, as encompassed by its nine-dash line claim, “do not comply with international law and Unclos provisions and…that the arbitral award in Philippines v.

China case dating to 12 July 2016 clearly confirms this point.”

At the September 2020 EUChina Leader’s Meeting, the European Union called on China to assume greater responsibility in upholding the rules-based international system and to refrain from unilateral actions in the South China Sea. President Duterte finally invoked the Unclos Award before the 75th UN General Assembly and at the 37th Asean Virtual Summit this year, “after our repeated calls for him to do so since the issuance of the Unclos Award in 2016,” del Rosario recalled.

The Nation BusinessMirror

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Editor: Vittorio V. Vitug • Tuesday, December 22, 2020 A3

Cop in viral shooting faces double murder charges

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By Rene Acosta @reneacostaBM Joel R. San Juan @jrsanjuan1573 & Samuel P. Medenilla @sam_medenilla

HILIPPINE National Police chief Gen. Debold Sinas said the PNP will file administrative and criminal charges against a police sergeant who shot dead a mother and her son in Paniqui, Tarlac, following an altercation.

At the Department of Justice (DOJ), Secretary Menardo Guevarra said that the justice department will immediately conduct a preliminary investigation into the incident once the PNP files appropriate charges against the suspect identified as Police Senior Master Sgt. Jonel Nuezca, 46, who is assigned at the Crime Laboratory based in Parañaque City.

The DOJ also said it has found probable cause to indict Nuezca for two counts of murder for the fatal twin shooting.

“Upon inquest, the Office of the Provincial Prosecutor of Tarlac has found probable cause to indict respondent Jonel Nuezca for two counts of murder,” the justice chief said.

The case will subsequently be elevated before a trial court, he added.

The administrative charges would be taken up by the PNP while the criminal charges, possibly murder, would be filed in court after it goes

through preliminary investigation.

Sinas and a number of officials, including Interior Secretary Eduardo Año condemned the “cold-blooded” murder, even as the PNP chief called the shooting as an isolated incident, which in no way mirrors the police organization as a whole.

“This time, the evidence is very strong against him that is why he was already under our custody and will be charged,” Sinas said of Nuezca, who shot dead Sonya Gregorio, 52, and her son, Anthony, 25. The suspect and the victims are neighbors at Barangay Cabayaoasan in Paniqui, Tarlac.

A video that went viral showed Nuezca shooting the victims in the head at close range with his service pistol. He also pumped another bullet into the head of the woman after she fell on the ground.

Nuezca escaped after the killing, but Police Regional Office 3 Director Brig. Gen. Valeriano de Leon said the

policeman surrendered hours after the incident to the Rosales Police Station in Pangasinan, which turned him over to the Paniqui Police Station.

The motive of the killing is still being looked into, but de Leon said the incident happened “after an altercation when the suspect confronted Anthony Gregorio, who was reportedly under the influence of liquor for using a polyvinyl pipe locally known as boga and creating noise which is prohibited.”

“After which, their old grudge over the right of way [land dispute] was brought out provoking the suspect,” said de Leon, who condemned the incident.

“Police Regional Office 3 strongly condemns this ruthless incident and I can guarantee that there will be no whitewash in the investigation and any infraction, or wrongdoing committed by any member of the PNP will never be tolerated,” de Leon said.

Sinas said the incident was an “isolated case” and assured the victims’ family that the PNP “does not and will never condone any criminal act by any member of the PNP.” “The PNP considers this as an isolated involvement of the person of PSSg [Nuezca]. In no way will such incident affect the sworn duty of the 221,000 police personnel to serve and protect our people,” the PNP chief stated.

Sinas said Nuezca had been charged with five separate cases before the PNP’s Internal Affairs Service (IAS) since 2014, but all of the cases, including two homicide cases, were dismissed.

“All of them were dismissed ex-

BI’s Morente places airport, port personnel on holiday season alert

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HE Bureau of Immigration (BI) has declared a heightened alert to thwart possible human trafficking activities and entry of illegal aliens in the country during the holiday season.

In a news statement, BI Commissioner Jaime Morente said an enhanced border security is necessary at all international airports and seaports as human trafficking syndicates are expected to take advantage of the holidays to conduct their illegal activities.

He said all immigration officers assigned in vital entry points have been directed to exercise extra vigilance in screening arriving and departing travelers.

“This is to ensure that our campaign to thwart the entry of illegal aliens and prevent the departure of trafficking victims is not compromised during this Christmas season,” Morente said.

He added the order was also imposed to also “ensure that our campaign to thwart the entry of illegal aliens, most of all the suspected terrorist, and prevent the departure of trafficking victims is not compromised during this Christmas season.”

Morente warned these syndicates from taking advantage of the holiday rush to bring their victims in or out of the country despite the Covid-19 pandemic.

“Do not even try because our officers at the airports will surely foil any attempt by these syndicates to ply their racket,” the BI chief warned.

Morente noted that immigration officers earlier arrested foreigners who were recently caught at the airports in Manila and Cebu with spurious documents, such as counterfeit Philippine visas and fake marriage and birth certificates.

He said these foreigners allegedly attempted to circumvent prevailing Covid travel restrictions.

Also recently, the BI managed to intercept suspected trafficking victims at the Ninoy Aquino International Airport wherein passengers, who are undocumented contract workers, attempted to leave with fake travel documents under the guise of being tourists.

“These tricks will not work as our immigration officers are trained in passenger assessment and detecting fraudulent travel documents,” Morente added.

The BI has temporarily deployed additional men at the ports to be on standby for the holiday season although an influx in the number of international travelers is not expected due to prevailing travel restrictions caused by the Covid-19 pandemic.

Joel R. San Juan and Recto Mercene

PAL bars Butuan-bound male passenger from boarding flight after testing positive for virus

By Recto Mercene @rectomercene

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BUTUAN-BOUND passenger from Manila was denied boarding by airline staff when he presented a swab test medical certificate with positive results Sunday morning.

Philippine Airlines (PAL) personnel said the 39-year-old passenger was immediately isolated by an airport medical team and later on picked up by ambulance from General Trias, Cavite.

The Manila International Airport Authority (Miaa) medics said they got in touch with the General Trias, Cavite local government unit that dispatched an ambulance and picked up the passenger back to Cavite for quarantine.

PAL said that all domestic and international bound

passengers are required to submit negative RT-PCR results to all airline counters before given boarding passes as a safety precaution.

Meanwhile, PAL has opened its Antigen Testing Facility for their clients who are required to present results that may arrange for testing through an antigen facility at PAL Gate 3 at Andrews Avenue, in Pasay City.

PAL spokesman Cielo Villaluna said both the LGUs of General Santos and Butuan Cities now accept negative antigen test results as a requirement for entry.

The tests will be conducted by Department of Health-accredited partner, Detoxicare Molecular Diagnostics Laboratory.

Testing is available from 1 a.m. to 7 a.m. daily (Monday to Sunday, including holidays) via

drive-thru or walk-in. Passengers must be tested no later than 2 hours before departure time.

The antigen test result is valid within 72 hours before departure for General Santos, and five days before departure for Butuan. Cost of test is P700 with results released within 30 minutes.

Upon entering the facility, passengers must present their ID, PAL ticket, and QR code indicating successful registration to PAL Passenger Profile Health Declaration.

They will also be asked to fill out a Health Assessment Checklist in compliance with the DOH’s requirements on entering public places.

For inquiries, PAL passengers may contact the PAL Testing Facility hot lines at +639685539214 (Smart) or +639062613074 (Globe).

The PNP considers this as an isolated involvement of the person of PSSg [Nuezca]. In no way will such incident affect the sworn duty of the 221,000 police personnel to serve and protect our people.

BM

PNP chief Gen. Debold Sinas cept for a case in 2016 for a less grave offense when he was suspended for 31 days,” Sinas said, adding the latest case would be investigated by the IAS. The PNP chief condoled with the family members of the victims and offered assistance to them.

“Again, let me express my sincere condolences to the family of the victims, and I am extending to them any form of assistance within my power as chief PNP to appease their emotions in this unexpected time of grief,” he said.

Justice SecretaryGuevarra for his part said, “I am disturbed that altercations like that in the subject incident could suddenly lead to deaths of persons. As soon as the local police has filed the appropriate charges, the prosecutor’s office will conduct a preliminary investigation to determine probable cause,” Guevarra said.

“The DOJ will closely monitor developments in this case and ensure that justice is done,” he added.

‘No ifs, no buts’

MALACAÑANG on Monday an-

nounced it will hold accountable the police, who shot dead a mother and her son in Tarlac during the weekend.

In an online press briefing, Presidential spokesman Harry Roque condemned the incident and assured it will not be tolerated by President Duterte.

“The police cannot invoke any defense [that his actions were] related to his duty [as a policeman]. The killing will be considered a murder case, which will be investigated, charged and tried [in court] and the police will be sanctioned. No ifs, no buts,” Roque said.

“He will not be protected by the President. We condemn such act,” he added.

Emboldening policy

THE President earlier assured he will protect the police from any reprisal on their activities related in the government’s war against illegal drugs.

Many human-rights advocates, including the labor group Sentro ng mga

Nagkakaisa at Progresibong Manggagawa (SENTRO), have criticized the said policy for allegedly emboldening the police from committing atrocities such as extrajudicial killings.

“The brazen murder, committed in broad daylight, demonstrates the degree in which impunity has been emboldened in Duterte’s Philippines. We cannot consider the incident as an ‘isolated event’ when so many cases of police brutality, murder, and complicity had been recorded before, and especially during the Duterte administration,” Sentro said in a news statement.

Uncalled for

SINCE the incident is not “service-related,” Roque said the police involved will not get any protection from the administration.

“The President have repeatedly said that the use of force [by the police] is only if the life of the police is threatened. So the wrong act will not be tolerated by the President,” Roque said.

Church leaders condemned the incident and have urged the administration to hold Nuezca accountable.

Oscar Florencio of the Military Ordinariate of the Philippines lamented the shooting, which he said is uncalled for amid the Christmas season.

This was echoed by Fr. Melvin Castro of the Diocese of Tarlac, who decried the violence and brutality of the action of Nuezca.

“We need also to investigate the incident and address the issue with fairness and justice,” Florencio said. With Ashley Manabat

A4 Tuesday, December 22, 2020 • Editor: Vittorio V. Vitug

Duterte grants ₧10K SRI perk to ‘exceptional’ govt workers

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XCEPTIONAL” government workers will be getting a P10,000 financial benefit in the coming days.

This after President Duterte issued last Friday Administrative Order (AO) 37, which authorized the grant of service recognition incentive (SRI) to government employees for fiscal year 2020.

“The payment of the SRI to all qualified government employees shall not be earlier than 21 December 2020,” the four-page issuance stated.

AO 37 will take effect immediately after being published in the Official Gazette or in a newspaper of general circulation.

It will cover civilian personnel in national government agencies (NGA); state universities and colleges (SUC); governmentowned or -controlled corporations (GOCC); and contractual or casual positions.

Uniformed personnel of the Armed Forces of the Philippines (AFP); Philippine National Police; Bureau of Fire Protection; Bureau of Jail Management and Penology; Bureau of Corrections; Philippine Coast Guard; and the National Mapping and Resource Information Authority may also avail of the perk.

The Legislative and Judicial Departments, and other offices vested with fiscal autonomy, local government units (LGU),and local water

districts may also chose to give a similar SRI.

Grant restrictions

TO qualify for the full benefit, a public servant should be still in government service as of November 30, 2020 and have rendered a total of four months of “satisfactory service.”

Those, who have rendered service less than the prescribed period will get a pro-rated SRI. Employees, who already got additional year-end benefit this year over and above what is authorized under Republic Act 6686, will no longer qualify for the SRI. Also disqualified from the benefit are consultants and experts engaged with the government for a limited period; laborers engaged through a job contracts (pakyaw) and those paid in piecework basis; student workers and apprentices; individuals and groups of people whose services are engaged through job orders, contracts of services or others similarly situated.

The funding for the SRI will be taken from the budget of the concerned government office.

“Should the identified funding source prove insufficient to cover the full amount of the SRI, a lower but uniform amount shall be paid to all qualified employees of the NGA or GOCC,” the new issuance read. Samuel P. Medenilla

Vicky leaves 8 dead, damages at least ₧10M worth of crops

By Samuel P. Medenilla @sam_medenilla

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HE Department of Agriculture (DA) reported on Monday that at least P10.5 million worth of agricultural products was damaged

by Typhoon Vicky when it hit parts of the country during the weekend.

Citing initial reports, Agriculture Secretary William Dar said this was the estimated impact of Typhoon Vicky in agriculture in Mindanao.

He said the figures could still change since they are still awaiting for the possible damage of the typhoon in Cagayan Valley.

“We still have no report of damage [in Cagayan Valley] but we know there was a heavy flooding in Tuguegarao and Enrile,” Dar said.

Dar, however, said the latest typhoon to hit the country is unlikely to affect the country’s prices of rice, especially after the harvest season.

However, he did admit there has been an increase in the price of pork due to interruption in the supply lines in Visayas and Mindanao.

The prices of fruits and vegetables also rose since the supply of the food items are still reeling from the last four typhoons, which hit the country in previous weeks.

“We know that during the Christmas season, the demand of these agricultural commodities is also higher,” Dar said.

As of 8 a.m. on Monday, the National Disaster Risk Reduction and Management Council reported Typhoon Vicky has led to the death of at least eight people and injured two others.

The Department of Social Welfare and Development said it was able to help 34,861 people, who were affected by Typhoon Vicky as of December 20, 2020.

Infra damage

THE Department of Public Works

and Highways (DPWH) has so far cleared nine road sections and is now clearing remaining 14 national road sections in Luzon and Visayas that were rendered impassable due to landslide, mudflow, flooding, fallen trees and damaged road and bridge brought by Typhoon Vicky.

As of 6 a.m. on Monday, December 21, 2020, two sections in Ifugao province are still being cleared namely: Kiangan-Tinoc-Buguias Road at K0357+850 in Ap-apid and at K0345+000 in Binablayan, Tinoc Town; and the Banaue-Mayoyao-A. Lista-Isabela Boundary Road in Barangay Mongol, Mayoyao due to soil collapse and landslide.

In Region 2, affected sections are: Cagayan Apayao Road, Itawes Bridge, K519+(-1044), Tuao, Cagayan; Cagayan Valley Road, Divisoria Bridge, K461+-459-K0461+-300, Namabalan Sur, Tuguegarao City; CabaganSta. Maria Overflow Bridge, Cabagan Sta. Maria; and the San Pedro Overflow bridge along NRJ-Villa Sur-San Pedro-Cabuaan-Ysmael- Disimungal Rd. K0367+786 in Maddela, Quirino.

DPWH identified closed roads in Region 3 as follows: Nueva Ecija-Aurora Road Camatis Section K0174+300 and Baler-Casiguran Road, Dibet A Abuttment A in Aurora while in Region 5, impassable roads are the following: Catanduanes Circumferential Road at K0081+350 and K0081+150 in Barangay Sagrada, Municipality of Bagamano, Catanduanes; Baras‐Gigmoto‐Viga Road at K0083+300 Barangay Ogbong, Municipality of Viga, Catanduanes; Jct. Panganiban‐ S a blo y on R o a d K 0 0 6 4 + 8 0 0, K0066+300, K0068+900, Brgy.

San Miguel, Mun. of Panganiban, Catanduanes.

Three road sections in Region 8 were also reported specifically along: Daang Maharlika, K0984+800-K1003+972 Layog Bridge (B00551LT); Tacloban-Baybay South Road, K0985+200, Brgy. Liberasion, Mahaplag, Leyte; and Bdry. Silago-Abuyog Road K0996+(-651) -K1011+931 Panalian Bridge.

Tropical Depression Vicky’s partial cost of damage on infrastructure has reached P110.4 million with P5 million from Region 5, and P96.4 million in Region 8.

Economy BusinessMirror

www.businessmirror.com.ph

DTI: Passage of CREATE bill to boost PHL copper industry

T

By Tyrone Jasper C. Piad

@TyronePiad

HE passage of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill will boost business activities in the proposed Leyte Ecological Industrial Zone (LEIZ), a Department of Trade and Industry (DTI) official said.

ties will then import the finished wire rods for further manufacturing. The wiring harness is a product being exported for the use of electric vehicles and appliances, among others, he added.

In short, having a wire rod facility in the economic zone will eliminate the need to import wire rods when producing wiring harnesses.

On November 26, 2020, the Senate passed on third and final reading the CREATE bill, voting 20-1. The House Committee on Ways and Means adopted the Senate version of the bill on the same day, but reversed its decision a few weeks later as some of its members raised concerns. Its chairman, Joey Sarte Salceda, said that the bicameral conference committee is eyeing to finish reconciling all the conflicting provisions by January next year.

“Given our country’s vast copper deposits amounting to an estimated 1.14 billion metric tons, we envision a fully integrated Philippine copper industry by the year 2030 through the development of a wire rod casting facility and higher value copper products,” Trade Secretary Ramon M. Lopez said.

According to LEIZ Core Master Plan, the industrial zone is proposed to cater to iron and steelmaking plants and downstream iron and steel industries (328 hectares); copper wire-rod casting and copper enamel wire casting (363 ha); and downstream copper industries (363 ha).

With a design population of around 500,000, some 60,000 industrial jobs are expected to be generated.

Palafox Associates, headed by architect Felino A. Palafox Jr., was chosen by the Board of Investments to develop the master plan during a public bidding.

In designing the project, Palafox said that the firm considered the impact of the coronavirus pandemic so it can adapt to the so-called new normal.

“This pandemic really changed our way of planning cities, designing buildings,” he said, noting that some revisions were made for the plan.

The Philippines’s only copper smelter and refinery is in Isabel, Leyte. The local industry exports approximately $2 billion worth of copper annually.

At a news event on Monday, Trade Undersecretary and Board of Investment (BOI) Managing Head Ceferino S. Rodolfo said that the LEIZ master plan project “hinges on several reforms that the national government has been undertaking,” pointing to the said bill, which was previously named as Corporate Income Tax and Incentive Rationalization Act (Citira).

“This is very important that Citira bill provided a robust framework to implement a time-bound, performance-based, focused and transparent regime, while the CREATE bill built on the framework that was forwarded already by the Citira bill,” he explained.

The measure is proposing to cut the corporate income tax (CIT) immediately to 25 percent from 30 percent upon effectivity.

The CIT will then be reduced further by 1 percentage point every

year from 2023 to 2027 until it reaches 20 percent.

“We hope that they [government] can rea l ly speed up....

Hopefully we could already pass a rationalized incentive reform bill,” he said.

Another key CREATE bill provision that Rodolfo highlighted was the removal of nationality and export bias when it comes to providing tax perks to investors.

He said that this can help in developing the local manufacturing chain for the copper industry in Leyte as foreign companies will be encouraged to set up their own wire rod facility in the Philippines.

Rodolfo explained that local copper facilities usually export cathode—a basic product in copper production—to factories in other countries like Japan to be processed into wire rods.

The local wiring harness facili-

Zamboanga del Sur ARBOs receive delivery truck, tractors from DAR

Let’s create change in 2021!

THE LEIZ master development plan was launched on Monday, a year after the initial integrative analysis on the conceptual master plan. In the first half, an environment impact assessment was conducted in relation to the project.

The master plan, which is included in the Copper Industry Roadmap crafted back in 2012, is aimed at promoting copper wire road and enameled wire manufacturing facilities. It is also set to identify downstream copper products that may be locally produced.

and took to the streets to demand that their governments serve public interest. We may see more protests in 2021 if political leaders don’t take urgent steps to eradicate corruption and make their countries a livable place for all citizens.

By Jonathan L. Mayuga @jonlmayuga

T

HE Department of Agrarian Reform (DAR) has recently turned over P3.2 million worth of support services to two agrarian reform beneficiaries’ organizations (ARBOs) in Zamboanga del Sur. Campo IV Agrarian Reform Beneficiaries and Farmers’ Cooperative (CIVCABEFAMCO) in Ramon Magsaysay town received a P1.15 million worth delivery truck and a P1.2-million multipurpose building/warehouse benefiting 379 farmers, while Lower Tiparak Tambulig Irrigator Association (LOWTIPTAM, IA) in the municipality of Tambulig received P950,000 worth of a four-wheel drive tractor benefiting 226 farmers.

DAR Secretary John Castriciones led the turnover last December 17.

In a news statement, the DAR chief said continuously providing support services projects to the agrarian reform beneficiaries (ARBs) is proof of the government’s recognition of the importance of farmers in ensuring food security in the country.

“This time of the pandemic showed the importance of the agricultural sector. Many people lost their jobs and stopped from working. The farmers did not stop working, but rather, despite the crisis, they keep on providing food to be served on our table. Our farmers deserve all the support we can provide,” Castriciones said.

For his part, Ramon Magsaysay Mayor Leonilo Borinaga Sr. said this is the first time that a DAR secretary visited their town and personally turned over projects and implements for the farmers.

Supporting copper industry

2. Advanced economies to end complicity in corruption abroad

By Henry J. Schumacher

A

S we are heading into a new year after a problematic 2020, it’s time to reflect on how corruption eats away at things we all care about, from fundamental human rights to socioeconomic equality and environmental protection.

Around the world, corruption made headlines, sparked demonstrations and toppled governments in what should be a wake-up call for leaders to follow through on their commitments and make good on old promises, as well as new and meaningful resolutions.

To give all of us some inspiration, here are four anti-corruption wishes we should have for us, the international community and our planet for 2021:

1. People power to transform countries

CORRUPTION is continually deepening the crisis of democracy in many parts of the world. Research shows that countries with higher rates of public sector corruption have weaker democratic institutions, depriving citizens of political and human rights.

In 2020, people lost patience

STRONG measures are needed by relatively “clean” countries that often enable cross-border corruption by maintaining loopholes and failing to prosecute foreign bribery by corporations. This has consequences for societies all over the globe.

Ending corporate secrecy and reining in banks and financial intermediaries of dirty deals must be among our top priorities for 2021.

3. Climate action to be free from corruption

WHERE corruption goes unchecked, this has devastating consequences for the environment, too.

The pandemic of 2020 has clearly shown us that we need climate action to create a better future for us and our children. Let’s initiate these changes in 2021.

4. Anti-Covid vaccines in 2021– hopefully free from corruption IT’S certainly good news that a number of vaccines were approved for application in the UK, the US, Canada and hopefully soon also in the Philippines. As I mentioned in an earlier column, let’s hope that the vaccination process will be executed without corruption.

Corruption does not stop when health is at stake. We have seen it regarding the PPEs, PhilHealth, hording and misappropriation of relief goods and payments, etc. The clear unmet demand for a vaccine and the willingness to pay for “immunity” must be of

deep concern for government and all of us. The vaccine is likely to have a high “street value,” making supplies by government and the private sector attractive targets for “diversion,” unless adequate safeguards are built into supply chains.

Let’s look to the new year with hope and create room for anti-corruption progresses to accelerate and some negative trends to reverse.

Let me conclude with a note of caution. There is risk in exposing people involved in corruption. Work in a group rather than alone.

And remember: the youth deserve an end to corruption. Young people are not just our future. They are key to creating a just, peaceful and prosperous world right now— here and abroad!

Finally, one more change: EACH of the five major American Internet companies Alphabet (Google), Facebook, Apple, Amazon and Microsoft is now more powerful than most governments of this world. They set standards that others only talk about. We need to change this balance of power. A “Digital Markets Act” and a “Digital Services Act” are needed in 2021, intended to regulate fair competition and an adequate handling of user content. The “Big Five” are to be obliged to report any plans to take over additional companies anywhere in the world, and, if necessary, to disclose their algorithms. In the future they must not be allowed to evaluate the data of their business customers in order to compete with them. After all, the US giants are supposed to adhere to rules in order to curb “fake news” and “hate speech.” Violations should result in penalties of up to 10 percent of sales—and even dismantling.

Feedback would be appreciated; you can contact me at hjschumacher59@ gmail.com

News BusinessMirror

www.businessmirror.com.ph

DENR claims 2nd legal victory, this time in case vs treasure hunter

By Jonathan L. Mayuga @jonlmayuga

A

TREASURE hunter, who was caught gathering and selling cave resources in 2016, was slapped with a P300,000 fine by the Bacoor Municipal Trial Court.

Joselito Laygan was found guilty of violating Section 7 of Republic Act 9072, or the National Caves and Cave Resources Management Protection Act. Laygan was caught harvesting stalactites and stalagmites in 2016 and failed to present proper documentation or permission from the Department of Environment and Natural Resources (DENR) during his arrest.

Environment Secretary Roy A. Cimatu, in a news statement said the guilty verdict against Laygan was a legal victory on the part of the DENR. A week ago, the DENR reported the conviction of a wildlife trader, who was behind the illegal shipment of over 700 pieces of live tarantulas intercepted at the Ninoy Aquino International Airport in 2019.

Cimatu said the twin victories were “an affirmation of the agency’s commitment to hold illegal wildlife traders accountable for their crimes against the Filipino people and the environment.”

“This decision comes at an opportune time when culprits are taking advantage of the challenges in travel and mobility of our environmental law enforcers,” he added. “We want to show these environmental criminals how stringent the law is even in the middle of this crisis.”

In a five-page decision penned by Judge Mary Rocelyn Lim-Guillano and promulgated last December 10, the Bacoor City Municipal Trial Court found Laygan guilty of violating Section 7 of Republic Act 9072, or the National Caves and Cave Resources Management and Protection Act. The provision states that “gathering, collecting, possessing, consuming, selling, bartering or exchanging or offering for sale without authority for any cave resource is prohibited.”

Laygan was caught in an entrapment operation conducted by the Philippine Operations Group on Ivory and Illegal Wildlife, or Task Force POGI, in February 2016.

Task Force POGI is a composite team of wildlife enforcers from various agencies, including the Biodiversity Management Bureau, the National Bureau of Investigation, and the Philippine National Police.

As a penalty, Laygan was ordered to pay P300,000 with an interest rate of 6 percent per annum from the date of the finality of the decision until it is fully paid.

At the same time, the Provincial Environment and Natural Resources Office in Cavite was directed to coordinate with the court for the turnover of the cave resources to the DENR secretary for proper disposition.

Tuesday, December 22, 2020 A5

Metro hotels prefer to remain as quarantine facilities–HSMA

By Ma. Stella F. Arnaldo

M

@akosistellaBM Special to the BusinessMirror

OST hotels in Metro Manila are still staying as quarantine hotels, despite the expected influx of balikbayans to the country beginning this holiday season.

PROTOCOL REMINDER

The station commander of Sampaloc, Manila district, Col. Gene Licud, leads the inspection of motorcycle riders and motorists on the road, reminding them on proper health protocols to prevent the spread of Covid-19 amid the Christmas season.

Health authorities have warned of a possible surge of virus if proper health protocols are neglected. NONIE REYES

Bill pushes issuance of vaccination passports after Covid inoculation

By Bernadette D. Nicolas @BNicolasBM

A

PARTY-LIST lawmaker is pushing for the passage of a measure seeking to provide vaccination passports for all those who would receive their Covid-19 vaccine shots.

In House Bill 8280, or the Vaccination Passport Act, Rep. Ronnie Ong of Ang Probinsyano party-list stressed the need to ensure the unhampered implementation and maximization of the government’s anti-Covid mass vaccination program as the country prepares to secure and roll out the needed vaccines to immunize the population against the virus.

“Beginning December of this year, various countries have already been leading the procurement of Covid-19 vaccines and have been positively considering the followup implementation of vaccine passports which would incentivize vaccination and would impose an artificial restriction on who can and cannot travel within and outside the country and participate in social, civil, and economic activities,” Ong said. “In line with this, it is our hope that this bill will be considered and approved the soonest possible time before the possible roll out of the vaccine in June 2021 in order to restore people’s trust and confidence to travel with the end view of reviving and bolstering our economy.”

The bill mandates the InterAgency Task Force for Emerging Infectious Diseases (IATF-EID), particularly the Departments of Health, Tourism, Foreign Affairs, Department of Trade and Industr y and Transportation, to “coordinate and provide for a single internationally recognized vaccine passport to serve as proof that a person has been vaccinated against Covid-19.”

With the issuance of vaccination passports, Ong is hoping that this would systematize the country’s vaccination protocols against Covid-19.

He said the government must fully document the entire inoculation process to ensure that health authorities can monitor the efficacy of the vaccines and determine its side effects, if there are any.

Ong added the passport can be used as an identification system that allows people unrestricted access to public facilities and participate in mass gatherings without the need to use face masks and face shields.

Some business establishments may opt to require people to show this passport until after the health department declares that the threat of the Covid-19 virus has been totally eradicated.

He also stressed that the vaccination passport “shall be issued as a matter of right whether or not the person availed of the free vaccination program of the government or

was vaccinated through personal and other means.”

Under the bill, the IATF-EID, in accordance with evidence-based or internationally recognized policies, shall list down and regularly update the exemptions or activities allowed for holders of Covid-19 Vaccine Passport such as, but not limited to: a) International and domestic travel, including non-essential travel; b) Employment abroad; c) Local checkpoint and quarantine exemptions; d) Opening of and access to some business establishments; and e) Post-vaccination protocols applicable to Vaccine Passport holders, as may be determined by the IATFEID, in relation to rules on public gatherings, use of face mask and face shield, etc.

In effect, Ong said, the vaccination passport is basically a badge that proves that one is safe to mingle with other people and engage in activities without the need to use face masks and face shields and observe social distancing rules.

The bill also provides penalties for production and possession of forged or fake vaccination passport as provided for under Republic Act 8239 or the Passport Act of 1996. This can be also used as a ground by the IATF-EID to deny a vaccine passport application, or revoke an already issued one.

Reelected president of the Hotel Sales and Marketing Association Inc. (HSMA) for 2021-2022 Christine Anne Ibarreta (Golden Phoenix) said in an online news conference over the weekend that, “Most are still quarantine hotels as it’s not sustainable to become staycation hotels.”

Some staycation hotels are reporting just 3 percent occupancy on weekends compared to quarantine hotels, where occupancy rates have reached an average of 50 percent in November. (See, “Metro Manila hotels record uptrend in occupancy and room rates–STR,” in the BusinessMirror, December 5, 2020.)

Also, Ibarreta noted, “Only four-star and five-star hotels” can apply as staycation hotels, per rules of the Department of Tourism (DOT). But she underscored, “From the airport [when the balikbayans arrive], they check into the quarantine hotels to wait their Covid-19 test results, then transfer to the staycation hotels [when they get a negative test result].”

HSMA’s new Director for Membership Celeste Romualdo (Linden Suites) added, “Most of us are still quarantine facilities. There are still a good number of arrivals who are OFWs [overseas Filipino workers].”

Ibarreta said as per information HSMA received from government authorities, there are 5,019 guests arriving at the airport [on December 20], “most of them, at 24, are commercial flights that will land in Naia [Ninoy Aquino International Airport.]” Commercial flights are those that bring in returning overseas Filipinos, as opposed to “repatriation flights,” which bring in OFWs, eight of which arrived on Sunday.

Earlier, she said a number of hotels are already upbeat about the holiday season due to increased bookings. (See, “Christmas looking sparkly for Metro Manila’s hotels,” in the BusinessMirror, December 14, 2020.)

Fractious election

IN a related development, the HSMA also appealed to Metro Manila mayors to come up with uniform regulations, especially regarding hotel events. “MMDA should have a realignment meeting. For instance, events are allowed in Quezon City, but in Pasay City, it’s not allowed,” said Ibarreta.

HSMA officers for 2021-2022, aside from Ibarreta and Romualdo are: Margarita Munsayac (Bluewa-

ter Resorts), chairman; Benjamin Martinez (The Bayleaf Hotels), Vice President; Desiree de Guzman (Astoria Plaza Ortigas), Treasurer; Amie Villena (The Bellevue Hotel and Resorts), Secretary; Carmela Bocanegra (Chroma Hospitality), public relations; Michael Jay Albana (Conrad Manila), Director for Programs; Cristian Carreon (Marriott Hotel Manila), Director for Ways and Means; and Loleth So (The Peninsula Manila), Director for Education.

Industry sources said the HSMA election this year was rather fractious as some members of the board tried to vote out Ibarreta as president, “on orders of their hotel owners.” Two hotel officials “were strongly pushing for Martinez to be the next president of HSMA,” although Martinez himself, preferred Ibarreta.

The HSMA chief apparently incurred the ill will of some hotel owners for her strong bid to get the Overseas Workers Welfare Administration (OWWA) to pay its debts to member-hotels, where OFWs had been billeted. Hotel owners, sources averred, had taken issue with her disclosure of the exact amount of OWWA’s arrears to their hotels.

Meanwhile, Microtel by Wyndham Baguio is offering to reimburse antigen test of guests for a minimum stay of two nights, for as low as P7,000 for a single-person stay, or P9,500 good for two persons. Rates are for room accommodation only.

Guests are offered P1,300 per person upon presentation of the official receipt of their antigen test. The promo runs until March 31, 2021.

Baguio City requires visitors to take an antigen test upon entry, or present their own negative test result.

Phinma Microtel Hotels Inc. President and CEO Jose Mari del Rosario said Microtel by Wyndham is “the first hotel chain in the country to launch this initiative to help revive domestic tourism.” He told the BusinessMirror a similar promo may be offered in the group’s other hotels. “We’re the only one doing this for Baguio; next is Boracay with RTPCR����������������������������������� test. We’re just awaiting the����� permit from DTI [Department of Trade and Industry].”

Earlier, the hospitality group said Covid-19 has put on hold a number of its hotel openings. (See, “Phinma Microtel slows timeline for opening new hotels, resorts,” in the BusinessMirror, October 24, 2020.)

QC ‘rescues’ 340 minors, shutters ‘tiangges’ for allowing entry of below-18 customers

S

TEPPING up its campaign to keep minors off the streets amid the pandemic, the Quezon City government has rescued 340 minors spotted in public places and shut down several establishments for allowing the entry of minors.

“This city is serious in implementing health rules to keep the youths safe from the grip of the virus,” stressed Mayor Joy Belmonte in Filipino.

She added: “Let’s not forget that the virus still lurks in our midst not mentioning the risks and dangers that go with it, especially this holiday season when people

tend go out and congregate.”

Belmonte recently approved an ordinance banning minors in all public places, whether alone or accompanied by parent or guardian, without any justification, to stop the spread of Covid-19.

In a report by action officer Rannie Ludovica of the Quezon City Task Force Disiplina, they have “rescued” 340 minors in a massive operation together with the Quezon City Police District’s District Mobile Force Battalion to monitor the presence of minors in public places.

The Business Permits and Licensing Department (BPLD), for its part, ordered the temporary

This city is serious in implementing health rules to keep the youths safe from the grip of the virus.

Quezon City Mayor Joy Belmonte

closure of several tiangges in Robinsons Novaliches for accepting minors.

BM

According to Ludovica, all rescued minors were brought to Centris Command post for

the profiling of their parents, while some were turned over to their respective barangays for counseling of Barangay Council for the Protection of Children (BCPC).

The Task Force also issued Ordinance Violation Receipts (OVR) to parents or guardians of rescued minors, as mandated by Ordinance SP-2985, S-2020, or the “Quezon City Special Protection of Children against Covid-19.”

“Ipinapaliwanag namin sa kanila na dahil malakas ang bata, maaaring wala silang symptoms pero carrier sila ng sakit. Kapag lumabas sila at pumunta in public places, puwede na sila maging superspreader at ito

ang iniiwasan nating mangyari,” Ludovica stressed.

Ludovica added that parents must be aware of their children’s whereabouts at all times and not use them as excuse to escape punishment.

“We are closely monitoring malls and tiangges na bukas ngayong holiday dahil patok itong puntahan ng mga kabataan,” said Ludovica.

Likewise, citizens are encouraged to report minors and parents violating the ordinance through the complaint-reporting platform, QCitizen Watch on the Official QC web site https:// qceservices.quezoncity.gov.ph/.

A6

Tuesday, December 22, 2020

The World BusinessMirror

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

EU nations, Canada impose UK travel bans over new virus strain

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ERLIN—A growing list of European Union nations and Canada barred travel from the UK on Sunday and others were considering similar action, in a bid to block a new strain of coronavirus sweeping across southern England from spreading to the continent.

People at St Pancras station in London wait to board the last train to Paris on December 20.

Millions of people in England have learned they must cancel their Christmas get-togethers and holiday shopping trips. British Prime Minister Boris Johnson said Saturday that holiday gatherings can’t go ahead and non-essential shops must close in London and much of southern England. Stefan Rousseau/PA via AP France, Germany, Italy, the Netherlands, Belgium, Austria, Ireland and Bulgaria all announced restrictions on UK travel, hours after British Prime Minister Boris Johnson announced that Christmas shopping and gatherings in southern England must be canceled because of rapidly spreading infections blamed on the new coronavirus variant.

Johnson immediately placed those regions under a strict new Tier 4 restriction level, upending Christmas plans for millions.

France banned all travel from the UK for 48 hours from midnight Sunday, including trucks carrying freight through the tunnel under the English Channel or from the port of Dover on England’s south coast. French officials said the pause would buy time to find a “common doctrine” on how to deal with the threat, but it threw the busy cross-channel route used by thousands of trucks a day into chaos.

The Port of Dover tweeted Sunday night that its ferry terminal was “closed to all accompanied traffic leaving the UK until further notice due to border restrictions in France.”

Eurostar passenger trains from London to Paris, Brussels and Amsterdam were also halted.

Germany said all flights coming from Britain, except cargo flights, were no longer allowed to land starting midnight Sunday. It didn’t immediately say how long the flight ban would last.

Belgian Prime Minister Alexander De Croo said he was issuing a flight ban for 24 hours starting at midnight “out of precaution.” “There are a great many questions about this new mutation,”

he said, adding he hoped to have more clarity by Tuesday.

Canada announced its own ban Sunday night. Prime Minister Justin Trudeau said in a statement that for 72 hours starting at midnight Sunday, “all flights from the UK will be prohibited from entering Canada.”

He added that travelers who arrived Sunday would be subject to secondary screening and other health measures.

A follow-up statement from the government said cargo flights were not included in the ban.

T h e C e nt r a l A m e r i c a n n at io n o f E l S a l v a d o r, m e a nw h i l e , s a i d it w o u l d r e f u s e e nt r y t o a n y o n e w ho h a s v i s it e d B r it a i n i n t h e preced ing 30 days.

The British government said Johnson would preside at a meeting of the government’s crisis committee, COBRA, on Monday in the wake of the other nations’ measures. They come at a time of huge economic uncertainty for the UK, less than two weeks before it leaves the EU’s economic structures December 31, and with talks on a new post-Brexit trade relationship still deadlocked.

Johnson said Saturday that a fastmoving new variant of the virus that is 70 percent more transmissible than existing strains appeared to be driving the rapid spread of new infections in London and southern England in recent weeks. But he stressed “there’s no evidence to suggest it is more lethal or causes more severe illness,” or that vaccines will be less effective against it.

On Sunday, British Health Secretary Matt Hancock added to the alarm

when he said “the new variant is out of control.” The UK recorded 35,928 further confirmed cases, around double the number from a week ago.

Germany, which holds the rotating EU presidency, called a special crisis meeting on Monday to coordinate the response to the virus news among the bloc’s 27 member states.

The Netherlands banned flights from the UK for at least the rest of the year. Ireland issued a 48-hour flight ban. Italy said it would block flights from the UK until January 6, and an order signed Sunday prohibits entry into Italy by anyone who has been in the UK in the last 14 days.

The Czech Republic imposed stricter quarantine measures from people arriving from Britain.

Beyond Europe, Israel also said it was banning flights from Britain, Denmark and South Africa because those were the countries where the mutation is found.

The World Health Organization tweeted late Saturday that it was “in close contact with UK officials on the new #COVID19 virus variant” and promised to update governments and the public as more is learned.

The new strain was identified in southeastern England in September and has been spreading in the area ever since, a WHO official told the BBC on Sunday.

“What we understand is that it does have increased transmissibility, in terms of its ability to spread,” said Maria Van Kerkhove, WHO’s technical lead on Covid-19.

Studies are under way to better understand how fast it spreads and whether “it’s related to the variant itself, or a combination of factors with behavior,” she added.

She said the strain had also been identified in Denmark, the Netherlands and Australia, where there was one case that didn’t spread further.

“The longer this virus spreads, the more opportunities it has to change,” she said. “So we really need to do everything we can right now to prevent spread.”

Viruses mutate regularly, and scientists have found thousands of different mutations among samples of the virus causing Covid-19. Many of these changes have no effect on how easily the virus spreads or how severe symptoms are.

British health authorities said that while the variant has been circulating since September, it wasn’t until the last week that officials felt they had enough evidence to declare that it has higher transmissibility than other circulating coronaviruses.

Patrick Vallance, the British government’s chief scientific adviser, said officials are concerned about the new variant because it contained 23 different changes, “an unusually large number of variants” affecting how the virus binds to and enters cells in the body.

Officials aren’t certain whether it originated in the UK, Vallance added.

But by December, he said it was causing over 60 percent of infections in London.

US President-elect Joe Biden’s

nominee for US surgeon general said Sunday that the emergence of the new strain doesn’t change the public health guidance on precautions for reducing the spread of the virus, such as wearing masks, social distancing and washing hands.

“While it seems to be more easily transmissible, we do not have evidence yet that this is a more deadly virus to an individual who acquires it,” Vivek Murthy said on NBC’s “Meet the Press.” “There’s no reason to believe that the vaccines that have been developed will not be effective against this virus, as well.”

Europe has been walloped this fall by soaring new infections and deaths due to a resurgence of the virus, and many nations have reimposed a series of restrictions to reign in their outbreaks.

Br itain has seen over 67,000 deaths in the pandemic, the second highest confirmed toll in Europe after Italy. Europe as a whole has recorded nearly 499,000 virus deaths, according to a tally by Johns Hopkins University that experts believe is an undercount, due to limited testing and missed cases.

The European Medicines Agency, meanwhile, is meeting Monday to approve the first Covid-19 vaccine for the European Union’s 27 nations, bringing vaccinations closer for millions of EU citizens. The vaccine made by German pharmaceutical company BioNTech and American drugmaker Pfizer is already in use in the United States, Britain, Canada and other countries.

The EMA moved up its assessment of the Pfizer-BioNTech vaccine by a week after heavy pressure from EU governments, especially Germany, which has said that after the EMA approval it could start vaccinating citizens as early as next Sunday.

In an urgent address to the nation on Saturday, Johnson ordered all non-essential shops, hairdressers and gyms in London and large parts of southern England closed and told Britons to reorganize their holiday plans. No mixing of households is allowed indoors in the region, and only essential travel is permitted. In the rest of England, people will be allowed to meet in Christmas bubbles for just one day instead of the five that were planned.

After he spoke, videos emerged online showing crowds of people at London’s train stations, apparently making a dash for places in the UK with less stringent coronavirus restrictions. Health Secretary Matt Hancock called those scenes “totally irresponsible.”

While Hancock insisted officials had acted “very quickly and decisively,” critics said Britain’s Conservative government should have moved against r ising infections much earlier.

“The alarm bells have been ringing for weeks, but the prime minister chose to ignore them,” said Keir Starmer, leader of the opposition Labour Party. “It is an act of gross negligence by a prime minister who, once again, has been caught behind the curve.” AP

China defends national security rules for foreign investment

C

hina’s new rules controlling foreign investment into areas related to national security aren’t protectionist and will provide clarity for companies looking to do business in China, according to the government.

The implementation of the review process “is not protectionist,” the National Development and Reform Commission said on its website Saturday in a Q&A explaining the new rules, and reviews will be “targeted,” it said. “Only by tightening controls to prevent and control security risks can we lay the foundations for a new round of opening up.”

The new regulations are linked to the gradual

opening up to more foreign firms in recent years, with a revamped investment law and fewer restrictions on sectors in which overseas companies can invest.

However, the conflict with the US has made the situation more difficult, with China repeatedly threatening to retaliate against foreign companies.

“In some respects this is a formalization of what existed before,” said Lester Ross, a Beijing-based partner at the law firm WilmerHale, noting that a security review process for foreign investment was included in China’s 2015 National Security Law. “One of the concerns is that national security is very broadly defined in this new announcement

and the national security law,” Ross added.

“Foreign companies should review their plans for investments going forward and recognize that this is an additional hurdle”.

Foreign investment involving production of military products, development of key agricultural, energy and natural resources as well as critical infrastructure and Internet technology will be subject to government review, the NDRC said.

The new rules will allow government agencies to preview, deny and punish foreign investment activities in areas that are deemed as important to national security.

The new regulation was drawn up based on the country’s existing foreign investment and national security laws and jointly issued by the NDRC and the Ministry of Commerce. It will go into effect 30 days from Saturday, and more specific measures on foreign investment through stock exchanges will be issued in the future.

The security review process will be similar on those in place in countries such as the US and the U.K., said Wang Huiyao, an adviser to China’s government and founder of the Center for China and Globalization. “Many countries have that and China is just following suit,” he said. Bloomberg News

Speaker of the House Nancy Pelosi, D-California, receives a Pfizer-BioNTech Covid-19 vaccine shot by Dr. Brian Monahan, attending physician, Congress of the United States, in Washington on Friday, December 18. Anna Moneymaker/The New York Times via AP

Biden to receive Covid vaccine as Trump remains on sidelines

W

ASHINGTON—The leader of the Trump administration’s vaccination program says people who have been infected with the coronavirus—a group that includes President Donald Trump—should receive the vaccine.

Moncef Slaoui, the chief adviser of Operation Warp Speed, told CNN’s “State of the Union” on Sunday that the vaccine is safe for those who have recovered and offers stronger and potentially longer protection than does the virus itself.

“We know that infection doesn’t induce a very strong immune response and it wanes over time.

So I think, as a clear precaution, it is appropriate to be vaccinated because it’s safe,” he said. “I think people should be vaccinated, indeed.”

Trump is now one of the only senior-most US officials who has not received the first of two vaccination shots, which began being administered last week as part of the largest vaccination campaign in the nation’s history. Vice President Mike Pence, House Speaker Nancy Pelosi, D-Calif., and Senate Majority Leader Mitch McConnell, R-Ky., all were given doses on Friday. President-elect Joe Biden was to receive his Monday.

All have chosen to publicize their injections as part of a campaign to convince a skeptical public that the vaccines are safe and effective, in hopes of finally putting an end to a pandemic that has killed more than 317,000 people in the United States and upended life around the globe.

Tr u m p, w h o i n t h e p a s t h a s s p re a d misinformation about vaccine risks, tweeted earlier this month that he was “not scheduled” to take the vaccine, but looked “forward to doing so at the appropriate time.” The White House says he is still discussing timing with his doctors.

Trump was hospitalized with Covid-19 in October and given an experimental monoclonal antibody treatment that he credited for his swift recovery.

A Centers for Disease Control and Prevention advisory board has said people who received that treatment should wait at least 90 days to be vaccinated to avoid any potential interference.

“When the time is right, I’m sure he will remain willing to take it,” White House spokesperson Brian Morgenstern echoed Friday. “It’s just something we’re working through.”

Trump has spent the last week largely out of sight as he continues to stew about his election loss and floats increasingly outlandish schemes to remain in power. It’s an approach that has bewildered top aides who see his silence as a missed opportunity for the president, who leaves office January 20, to claim credit for helping oversee the speedy development of the vaccine and to burnish his legacy.

Trump has also come under criticism for failing to take the vaccine himself as an example to help allay concerns about its safety, especially among Republicans.

The CDC’s Advisory Committee on Immunization Practices said the Pfizer-BioNTech vaccine, which was the first to receive authorization, “is safe and likely efficacious” in people who have been infected with Covid-19 and “should be offered regardless of history of prior symptomatic or asymptomatic SARS-CoV-2 infection.”

While there is no recommended minimum wait time between infection and vaccination, because reinfection is uncommon in the three months after a person is infected, the committee said people who tested positive in the preceding 90 days “may delay vaccination until near the end of this period, if desired.”

But the advisers also recommended that those who received the kind of treatment Trump did should put off being vaccinated for at least 90 days.

“Currently, there are no data on the safety a n d e f f i ca c y o f P f i ze r - B i o N Te c h Cov i d - 1 9 vaccination in persons who received monoclonal antibodies or convalescent plasma as part of Covid-19 treatment,” they wrote, recommending that vaccination “be deferred for at least 90 days, as a precautionary measure until additional i n f o r m at i o n b e co m e s a va i l a b l e, to a vo i d interference of the antibody treatment with vaccine-induced immune responses.”

Surgeon General Jerome Adams cited that recommendation on CBS’s “Face the Nation” on Sunday when asked if Trump planned to receive the shot on camera.

“From a scientific point of view, I will remind people that the president has had Covid within the last 90 days. He received the monoclonal antibodies. And that is actually one scenario where we tell people maybe you should hold off on getting the vaccine, talk to your health provider to find out the right time,” Adams said.

White House press secretary Kayleigh McEnany has given other explanations for the delay. She told reporters last week that Trump was holding off, in part, “to show Americans that our priority are the most vulnerable.”

“The President wants to send a parallel message, which is, you know, our long-term care facility residents and our frontline workers are paramount in importance, and he wants to set an example in that regard,” she said.

Dr. Anthony Fauci, the nation’s top infectious diseases exper t, is among those who have re c o m m e n d e d t h a t Tr u m p b e v a c c i n a t e d without delay.

“Even though the president himself was infected, and he has, likely, antibodies that likely would be protective, we’re not sure how long that protection lasts. So, to be doubly sure, I would recommend that he get vaccinated,” he told ABC News. AP

Japan approves record $1 trillion budget for 2021

J

apan’s cabinet approved a record budget next fiscal year that tops $1 trillion and adds to the developed world’s heaviest debt burden as Prime Minister Yoshihide Suga struggles to fight the coronavirus and bolster an economic recovery.

Japan’s fiscal 2021 budget calls for 106.6 trillion yen in overall spending during the 12 months starting in April, a 3.8 percent increase from last year’s initial budget, the finance ministry confirmed on Monday. Actual spending could rise much higher, given the likelihood of extra budgets, three of which were drafted this year amid the pandemic, adding 73 trillion yen to total spending.

“We’ve had to balance preventing further infections, economic recovery and fiscal consolidation,” Finance Minister Taro Aso said. “That balancing act was the most difficult part of compiling the budget.”

The pandemic has forced Japan to add to its mountain of public debt, with new debt issuance hitting a record this year. Even before last week’s third extra budget, the International Monetary Fund saw public debt hitting 266 percent of gross domestic product this year with a budget deficit at 14.2 percent of GDP. The Suga administration this month announced over $700 billion in stimulus, partly funded by next year’s budget. The package aims to contain the virus while helping the economy transition into a post-Covid world.

Japan’s daily virus cases have twice risen above 3,000 in recent days. Suga has already been forced to declare a temporary suspension to a travel subsidy program he’d promoted, robbing him of an efficient way of boosting an economy that some economists see under threat of falling back into a recession.

On the monetary policy side, the Bank of Japan maintained its ultra-easy stance Friday, also extending its coronavirus response program by six months. The bank also surprised the market by promising a policy review without a total overhaul, leaving economists and investors with three months to speculate about possible changes.

Here’s the breakdown of next year’s budget expenditures: n 66.9 trillion yen in general spending, including: n Around 35.8 trillion yen for social security n 5 trillion yen for a coronavirus response reserve fund n Debt servicing of 23.8 trillion yen n 16 trillion yen in transfers to regional and local governments.

On the income side, bond issuance is planned to rise to its highest since the global financial crisis.

Income derived from debt will rise to 40.9 percent of total revenue, compared with 31.7 percent in 2020. The Finance Ministry plans to offer a total of 236 trillion yen worth of government bonds next fiscal year, the majority of which will be refinancing bonds. Bloomberg News

BusinessMirror

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ESTABLISHMENT / ADDRESS

ESTABLISHMENT / ADDRESS NO.

FOREIGN NATIONAL / NATIONALITY

POSITION

8 STONE BUSINESS OUTSOURCING OPC 5th-10th/f Tower 3, Pitx #1 Kennedy Road Tambo Parañaque City

NO.

FOREIGN NATIONAL / NATIONALITY

Tuesday, December 22, 2020

ESTABLISHMENT / ADDRESS POSITION

NO.

FLYING DRAGON NETWORK PHILIPPINES INC. 4th-11th Floor Aseana 3 Building Aseana Avenue Corner Diosdado Macapagal Tambo Parañaque City

39.

LY THI LOAN Vietnamese

VIETNAMESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

FOREIGN NATIONAL / NATIONALITY

ESTABLISHMENT / ADDRESS POSITION

NO.

FOREIGN NATIONAL / NATIONALITY

POSITION

107.

CAI, XINWEI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

1.

CAO, LI Chinese

CUSTOMER SERVICE REPRESENTATIVE

40.

NGUYEN THU TRANG Vietnamese

VIETNAMESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

72.

CAI, ZHIPENG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

108.

CHEN, QUNCHAO Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

2.

CHEN, YUXUAN Chinese

CUSTOMER SERVICE REPRESENTATIVE

41.

PHAM BAO LIEN Vietnamese

VIETNAMESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

73.

CAI, HUIBIAO Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

109.

DONG, YINGMAN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

3.

CHEN, JIALI Chinese

CUSTOMER SERVICE REPRESENTATIVE

42.

PHAM VAN TU Vietnamese

VIETNAMESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

74.

CHEN, YIJIE Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

110.

FAN, YANGE Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

4.

DING, DAIJU Chinese

CUSTOMER SERVICE REPRESENTATIVE

43.

TRUONG THI MY DIEM Vietnamese

VIETNAMESE SPEAKING DIGITAL MARKETING SPECIALIST

75.

CHEN, XIONGYING Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

111.

GUO, LUYAO Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

5.

FANG, YUNJIE Chinese

CUSTOMER SERVICE REPRESENTATIVE

44.

NGUYEN NGOC MAI Vietnamese

VIETNAMESE SPEAKING PRODUCT MARKETING SPECIALIST

76.

DOU, YUANZE Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

112.

HE, XINGLAI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

6.

GENG, YUHAN Chinese

CUSTOMER SERVICE REPRESENTATIVE

AMDOCS PHILIPPINES INC. 23/f, 25th And 26th Floors Eco Tower 32nd St. Cor. 9th Ave. Bonifacio Global City Fort Bonifacio Taguig City

77.

LIN, YANGLONG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

113.

HU, XIJIA Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

7.

HUANG, LUHUA Chinese

CUSTOMER SERVICE REPRESENTATIVE

45.

78.

LIU, ZHENPENG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

114.

JI, ZHENDUO Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

8.

LI, JIANZAO Chinese

CUSTOMER SERVICE REPRESENTATIVE

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

79.

LIU, GUO Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

115.

JIANG, XIANGPING Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

9.

LI, JIAYI Chinese

CUSTOMER SERVICE REPRESENTATIVE

46.

DANH MINH TOAN Vietnamese

CHINESE CUSTOMER SERVICE

80.

LIU, CHAO Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

116.

LEI, GAOGUI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

10.

LYU, ZIKUAN Chinese

CUSTOMER SERVICE REPRESENTATIVE

47.

DAO VAN HUNG Vietnamese

CHINESE CUSTOMER SERVICE

81.

QIAO, JIANGTAO Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

117.

LI, KAI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

11.

SU, LING Chinese

CUSTOMER SERVICE REPRESENTATIVE

48.

DUAN, YINGAO Chinese

CHINESE CUSTOMER SERVICE

82.

WANG, LIN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

118.

LI, YI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

12.

SUN, YIHUANG Chinese

CUSTOMER SERVICE REPRESENTATIVE

49.

HA VI KHANH Vietnamese

CHINESE CUSTOMER SERVICE

83.

WANG, YU Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

119.

LI, CHANGYU Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

13.

WANG, XIAOYAN Chinese

CUSTOMER SERVICE REPRESENTATIVE

84.

WANG, JIANKANG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

120.

LI, CHUNXIAO Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

14.

WANG, SHUXIN Chinese

CUSTOMER SERVICE REPRESENTATIVE

50.

PHENG, SREY LEAK Cambodian

RISK ANALYST

85.

XIE, XIAOFENG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

121.

LIN, BINGKUN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

15.

WANG, WEI Chinese

CUSTOMER SERVICE REPRESENTATIVE

51.

EGA AGIO MONDE Indonesian

RISK SENIOR ANALYST

86.

YAN, TINGHUI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

122.

LIU, HUIFENG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

16.

WANG, ZILIN Chinese

CUSTOMER SERVICE REPRESENTATIVE

87.

YANG, HAOHAO Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

123.

LIU, TING Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

17.

WANG, WENLONG Chinese

CUSTOMER SERVICE REPRESENTATIVE

88.

YING, WENXIANG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

124.

LIU, HUAN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

18.

WANG, YINING Chinese

CUSTOMER SERVICE REPRESENTATIVE

89.

YU, CHUNYUAN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

125.

MAO, YUYING Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

19.

XIAO, BO Chinese

CUSTOMER SERVICE REPRESENTATIVE

90.

ZENG, CUILAN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

126.

QIN, JINGXI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

20.

XU, HUAJIE Chinese

CUSTOMER SERVICE REPRESENTATIVE

91.

ZENG, GUODE Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

127.

QIU, TIANYU Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

21.

XU, YUHANG Chinese

CUSTOMER SERVICE REPRESENTATIVE

54.

LIAO, TE-JEN Taiwanese

CHINESE LANGUAGE HR OFFICER

92.

ZHAO, FANGFANG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

128.

SONG, ZHE Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

22.

YUAN, JIANBING Chinese

CUSTOMER SERVICE REPRESENTATIVE

55.

SU, CHIA-HONG Taiwanese

MANDARIN SPEAKING CUSTOMER SERVICE SPECIALIST

93.

ZHAO, WEI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

129.

SUN, LEI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

23.

ZHANG, XINYE Chinese

CUSTOMER SERVICE REPRESENTATIVE

56.

XIAO, BAI-HENG Taiwanese

MANDARIN SPEAKING CUSTOMER SERVICE SPECIALIST

94.

ZHU, YAQIN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

130.

SUN, SHANSHAN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

24.

ZHOU, HONGCHUAN Chinese

CUSTOMER SERVICE REPRESENTATIVE

57.

YAPP LI JIN Malaysian

MANDARIN SPEAKING CUSTOMER SERVICE SPECIALIST

95.

ME ME AUNG Myanmari

MYANMARI CUSTOMER SERVICE REPRESENTATIVE

131.

TU, LONGLONG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

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

58.

HO GIA AN Vietnamese

VIETNAMESE SPEAKING CUSTOMER SERVICE SPECIALIST

96.

SU MYAT MON Myanmari

MYANMARI CUSTOMER SERVICE REPRESENTATIVE

132.

WAN, QING Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

59.

LE THI HONG NGOC Vietnamese

VIETNAMESE SPEAKING CUSTOMER SERVICE SPECIALIST

133.

WANG, YOUCHENG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

60.

NGUYEN THI HOA Vietnamese

VIETNAMESE SPEAKING CUSTOMER SERVICE SPECIALIST

97.

CHENG, SHIWEI Chinese

PLDT/SMART NETWORK EVOLUTION PROJECT MANAGER

134.

WANG, YANFEN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

98.

LU, KAIFENG Chinese

SMART PIVOT CLOUD CORE PROJECT DIRECTOR

135.

WU, YANDONG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

136.

WU, JINLONG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

137.

WU, JIONG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

138.

WU, XIAOHUI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

139.

WU, XIULONG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

140.

XIONG, LIJIA Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

141.

XU, WEIBING Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

142.

XU, XIAOHUI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

25.

VERMA, ADITI Indian

SERVICE NOW DELIVERY LEAD

ALFANET GLOBAL SOLUTIONS, INC. Flr. No. 4th & 5th W Mall Bldg. Diosdado Macapagal Ave. St. Zone 10.

Barangay 076, District 1 Pasay City

SINGH, ANUPAMA Indian

SW TEST ENGINEER

AVANTICE CORPORATION 19/f Pbcom Tower Ayala Ave. Bel-air Makati City

C’EST LA VIE EVENT MANAGEMENT INC. 230 Narra Street Marikina Heights Marikina City

52.

ZHANG, ZHUHAO Chinese

EVENT PLANNER

CROWNTECH CORPORATION Unit 1203-1204 Techzone Bldg. Sen. Gil Puyat Ave. San Antonio Makati City

53.

HUANG, JING Chinese

CUSTOMER SERVICE OFFICER

DIGICHROM INC. Unit 2602 & 2603 26/f Pbcom Tower 6795 Ayala Ave. Bel-air Makati City

HUAWEI TECHNOLOGIES PHILS. INC. U-5302, 53/f Pbcom Tower 6795 Ayala Ave., Cor., V.a. Rufino St. Bel-air Makati City

26.

CHONG CHIN YANG Malaysian

MANDARIN SPEAKING CUSTOMER RETENTION SPECIALIST

61.

NGUYEN THI HONG Vietnamese

VIETNAMESE SPEAKING CUSTOMER SERVICE SPECIALIST

27.

WONG CHIN YIN Malaysian

MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE

62.

VUONG BOI BOI Vietnamese

VIETNAMESE SPEAKING CUSTOMER SERVICE SPECIALIST

28.

CAO, JIFENG Chinese

MANDARIN SPEAKING DATA ANALYTICS MANAGER

29.

SEERANAPHATRASIRI, CHATRAPAT Thai

THAI SPEAKING CUSTOMER RETENTION SPECIALIST

63.

DENG, HUANG Chinese

MARKETING AND SALES AGENT

LOGICALSOURCE1 CALL CENTER INC. 8/f Sultan Cityland Central Brgy. Highway Hills Mandaluyong City

30.

KANPROM, APISIT Thai

THAI SPEAKING CUSTOMER SERVICE REPRESENTATIVE

64.

HONG, LINA Chinese

MARKETING AND SALES AGENT

100.

31.

PAENGBUDDA, LALITA Thai

THAI SPEAKING CUSTOMER SERVICE REPRESENTATIVE

65.

LUO, JINWEN Chinese

MARKETING AND SALES AGENT

MINGCHAO INC. G/f Alphaland Makati Place Ayala Ave. Cor., Malugay St. Bel-air Makati City

32.

THONGSING, APINYA Thai

THAI SPEAKING CUSTOMER SERVICE REPRESENTATIVE

33.

SURASEN, CHINDANAI Thai

THAI SPEAKING DIGITAL MARKETING SPECIALIST

66.

CHEN, GUIDE Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

34.

PINKLAI, SAHAKORN Thai

THAI SPEAKING PRODUCT MARKETING SUPERVISOR

67.

CHEN, GUOHUI Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

102.

CHEN, JIUYUE Chinese

CHINESE CUSTOMER SERVICE

143.

YANG, FAN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

35.

HUYNH TU TRINH Vietnamese

VIETNAMESE SPEAKING CUSTOMER RETENTION SPECIALIST

68.

WEI, ZIWEI Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

103.

DENG, XIULAN Chinese

CHINESE CUSTOMER SERVICE

144.

ZHANG, KAIXIN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

36.

NGUYEN VAN SANG Vietnamese

VIETNAMESE SPEAKING CUSTOMER RETENTION SPECIALIST

69.

WEI, WANLONG Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

104.

GUO, WEI Chinese

CHINESE CUSTOMER SERVICE

145.

ZHANG, WANHUA Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

37.

TRAN CONG DUY Vietnamese

VIETNAMESE SPEAKING CUSTOMER RETENTION SPECIALIST

70.

ZHANG, FU Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

105.

JIANG, NAN Chinese

CHINESE CUSTOMER SERVICE

146.

ZHAO, ZHIAN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

38.

CHU THI THOM Vietnamese

VIETNAMESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

71.

ZHOU, QUAN Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

106.

LIU, HAO Chinese

CHINESE CUSTOMER SERVICE

147.

ZHAO, HONGBO Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

EASTERN GOLD CORPORATION 503 Nueva St Binondo Manila

IP CLOUD NET SOLUTIONS, INC. Unit 1001 Centerpoint Bldg. Garnet Road Cor. Julia Vargas Avenue Ortigas Center San Antonio Pasig City

99.

FAREAST OUTSOURCE PROCESSING INC. 7th, 8th, 9th Flr. Nu Tower Moa Coral Way Brgy. 076 Pasay City

101.

HATUNOGLU, VEDAT MURAT Turkish

YU, CHENGLONG Chinese

YI, YONGQIANG Chinese

CHIEF TECHNICAL OFFICER

CUSTOMER SERVICE REPRESENTATIVE

CHINESE CUISINE SPECIALIST CHEF

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

A7

A8

News

Tuesday, December 22, 2020

www.businessmirror.com.ph

‘Farmers, fishers must get Covid vax promptly’

S

EN. Francis “Kiko” Pangilinan prodded the Duterte administration on Monday to include farmers and fisherfolk in the government’s anti-Covid game plan.

Pangilinan pointed out Monday that farmers and fisherfolk are "frontliners too and should be prioritized in the government’s game plan to control Covid, including its plan to vaccinate essential workers."

Noting that farmers and fisherfolk are the ones who produce food for the people, Pangilinan asked, partly in Filipino, “shouldn’t they be priority in the vaccination plan?”

Pangilinan added, “Their livelihood was also a victim of the pandemic; and their misery was made worse by the recent typhoons. And yet they keep tilling the land so we won’t go hungry.”

In a statement, the senator sig-

nalled he intends to raise the issue when the Senate convenes as a Committee of the Whole to review the Duterte government's vaccination program.

Senators adopted on December 14 Pangilinan’s Senate Resolution 594 asking the chamber to convene as a Committee of the Whole to review the vaccination program.

In filing the Resolution, Pangilinan stressed that majority of the farmers and fisherfolks are among the poorest sectors affected by the Covid-19 contagion and its resulting lockdowns. “They will not be able to afford the vaccines without government support. Many of them

have no ID, no access to hospitals. So, what’s the plan? How do we ensure the vaccines will reach them as early as possible?” he asked.

The senator cited the Department of Agriculture (DA) report putting losses in agriculture due to typhoons Quinta, Ulysses and Rolly at P12.3 billion.

In Cagayan Valley alone, agriculture damage was at P2.2 billion. “The DA budget for 2021 barely increased.

Yet many things need urgent attention, like improving crop protection and insurance schemes so that we have buffers to cushion the impact of the pandemic and the calamities.

We should also include in the priority the vaccines for our farmers and fisherfolk,” Pangilinan said.

He voiced his dismay over the government’s reported failure to secure the early delivery of 10 million doses of Pfizer vaccines as early as January. The issue is likely to be raised anew at the Senate Committee of the Whole hearing when Congress reconvenes in January 2021. Butch Fernandez

9 Cavite towns clinch drug-cleared awards

R

OSARIO, Cavite—Nine municipal here including four coastal towns here received Drug Cleared Sustained Awards during the Online 2020 Anti Drug Abuse Council (Adac) Special Awards on December 18, 2020.

The towns of Amadeo, Carmona, Maga l lanes, Maragondon, Mendez in upland parts and Naic, Noveleta, Rosario and Ternate from the coastal part of the province received recognition as Drug Cleared awardees during the formal online program together with other towns and cities in the Philipppines.

"This award is due to the joint efforts of the local police under Police Major Alexis Tuazon, local police chief, each barangay and the local government. You dear Nov-

Nearly 900K join Comelec voter listing drive; registration halted for holidays

N

EARLY 900,000 more Filipinos have registered with the Commission on Elections (Comelec) to be able to participate in the 2022 National and Local polls.

Since the poll body resumed its voter registration on September 1, 2020, it was able to tally 863,309 people who participated in the activity.

Most or 466,271 of the registration applicants as of December 11, 2020 were female, while the remaining 397,038 were males.

The regions with the highest number of applicants were Calabarzon (129,653); Central Luzon (97,455) and the National Capital Region (84.497).

Applicants have until September 30, 2021 to become registered voters.

Comelec is temporarily suspending the registration on December 24 and December 25, as well as from December 29, 2020 to January 4, 2021 for the Christmas and New Year holidays, respectively.

Comelec said the ongoing quarantine protocols and minimum health standards due to the Covid-19 pandemic have affected the number of applicants in their voter registration.

It earlier announced another 4 million new voters are eligible to become registered voters for the 2022 National and Local elections. Samuel P. Medenilla

THE Noveleta town hall in Cavite located at Barangay Poblacion was awarded Drug Free locality for two consecutive year. DENNIS ABRINA

eletenos [are assured] that we will intensify the anti-drug campaign in our town," Mayor Dino Chua of Noveleta town said.

Speaking partly in Filipino, PDEA Director General Wilkins Villanueva said, “it’s only right that you be given recognition for your fight against drugs. The PDEA

salutes all its partners in the campaign against illegal drugs.”

Interior and Local Government Secretary Eduardo Año said in his speech, "Please continue to join the DILG, PDEA and the PNP in fighting and defeating the scourge of illegal drugs, as advocated by President Duterte." Dennis Abrina

Senators to probe recent wave of lawyer’s killings, abductions

S

ENATE probers are poised to open an inquiry into the alarming recent wave of killings and abductions of lawyers in the country.

Senator Imee R. Marcos, in filing Senate Resolution 593, pressed for a deeper probe into mounting cases of reported cases of recent killings and kidnappping of members of the legal profession.

“In recent months, the entire legal community has been shocked by the successive assaults committed against members of the bar, leading to serious harm, disappearances, and, for some, their untimely death,” Marcos said.

Senate Resolution No. 593 listed five deaths and two disappearances this year that, the senator said, "caused grave concern that must be taken up" in an upcoming Senate inquiry.

For instance, Marcos suggested that Senate probers look deeper into the death of Batangas Representative and law yer Edgar Mendoza, along with his driverbodyguard who were "found lifeless in a burned vehicle in Tiaong, Quezon.

She cited reports that "a money dispute” between Mendoza and a client was "behind the gruesome crime."

The senator also listed the ambush of Camarines Sur Re-

gional Trial Court Judge Jeaneth Gaminde-San Joaquin and the deaths of Manila Regional Trial Court Judge Maria Teresa Abadilla, Atty. Eric Jay Magcamit, and Atty. Joey Luis Wee, recalling that these cases also "shocked not only the legal community but the whole country."

At the same time, she recalled earlier reports that former Court of Appeals Judge Normandie Pizarro and more recently Atty.

Ryan Oliva "have been reported missing with no leads of their whereabouts as of press time."

“The entire legal community, in various fora, have expressed their dismay, condemnation, and fear for these rampant and vicious attacks against members of the bar and other court officers," the senator said, lamenting that the perpetrtators "seem to escape with impunity.”

Marcos added: “While these are independent cases, there is a need to look at the common threads that make one interconnected with the others, as these i nvolve i nd iv idu a l s who a re tasked with the administration of justice and in upholding the rule of law.”

“Let us not wait for another crime committed against the respected members of the legal community before we take action on these unfortunate events,” she stressed. Butch Fernandez

www.businessmirror.com.ph

The World BusinessMirror

Tuesday, December 22, 2020

A9

Biden introduces his climate team, says ‘no time to waste’

In this October 12 file photo, Sen. Chuck Grassley, R-Iowa, uses his smartphone during a hearing on Capitol Hill in Washington. Researchers from Nato StratCom, a Nato-accredited research group based in Riga, Latvia, paid three Russian companies 300 euros ($368) to buy 337,768 fake likes, views and shares of posts on Facebook, Instagram, Twitter, YouTube and TikTok, including content from verified accounts of Senators Grassley and Chris Murphy.

Both senators consented to participate. Erin Schaff/The New York Times via AP

Social media manipulation affects even US senators–Nato StratCom

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RUSSELS—The conversation taking place on the verified social media accounts of two US senators remained vulnerable to manipulation, even amid heightened scrutiny in the run up to the US presidential election, an investigation by the Nato Strategic Communications Centre of Excellence found.

Researchers from the center, a Nato-accredited research group based in Riga, Latvia, paid three Russian companies 300 euros ($368) to buy 337,768 fake likes, views and shares of posts on Facebook, Instagram, Twitter, YouTube and TikTok, including content from verified accounts of Sens.

Chuck Grassley and Chris Murphy.

Grassley’s office confirmed that the Republican from Iowa participated in the experiment. Murphy, a Connecticut Democrat, said in a statement that he agreed to participate because it’s important to understand how vulnerable even verified accounts are.

“We’ve seen how easy it is for foreign adversaries to use social media as a tool to manipulate election campaigns and stoke political unrest,” Murphy said. “It’s clear that social media companies are not doing enough to combat misinformation and paid manipulation on their own platforms and more needs to be done to prevent abuse.”

In an age when much public debate has moved online, widespread social media manipulation not only distorts commercial markets, it is also a threat to national security, Nato StratCom Director Janis Sarts told The Associated Press.

“These kinds of inauthentic accounts are being hired to trick the algorithm into thinking this is very popular information and thus make divisive things seem more popular and get them to more people. That in turn deepens divisions and thus weakens us as a society,” he explained.

More than 98% of the fake engagements remained active after four weeks, researchers found, and 97% of the accounts they reported for inauthentic activity were still active five days later.

Nato StratCom did a similar exercise in 2019 with the accounts of European officials. They found that Twitter is now taking down inauthentic content faster and Facebook has made it harder to create fake accounts, pushing manipulators to use real people instead of bots, which is more costly and less scalable.

“We’ve spent years strengthening our detection systems against fake engagement with a focus

on stopping the accounts that have the potential to cause the most harm,” a Facebook company spokesperson said in an e-mail.

But YouTube and Facebook-owned Instagram remain vulnerable, researchers said, and TikTok appeared “defenseless.”

“The level of resources they spend matters a lot to how vulnerable they are,” said Sebastian Bay, the lead author of the report. “It means you are unequally protected across social media platforms.

It makes the case for regulation stronger. It’s as if you had cars with and without seatbelts.”

Researchers said that for the purposes of this experiment they promoted apolitical content, including pictures of dogs and food, to avoid actual impact during the US election season.

Ben Scott, executive director of Reset.tech, a London-based initiative that works to combat digital threats to democracy, said the investigation showed how easy it is to manipulate political communication and how little platforms have done to fix long-standing problems.

“What’s most galling is the simplicity of manipulation,” he said. “Basic democratic principles of how societies make decisions get corrupted if you have organized manipulation that is this widespread and this easy to do.”

Twitter said it proactively tackles platform manipulation and works to mitigate it at scale.

“This is an evolving challenge and this study reflects the immense effort that Twitter has made to improve the health of the public conversation,” Yoel Roth, Twitter’s head of site integrity, said in an e-mail.

YouTube said it has put in place safeguards to root out inauthentic activity on its site, and noted that more than 2 million videos were removed from the site in the third quarter of 2020 for violating its spam policies.

“We’ll continue to deal with attempts to abuse our systems and share relevant information with industry partners,” the company said in a statement.

TikTok said it has zero tolerance toward inauthentic behavior on its platform and that it removes content or accounts that promote spam or fake engagement, impersonation or misleading information that may cause harm.

“We’re also investing in third-party testing, automated technology, and comprehensive policies to get ahead of the ever-evolving tactics of people and organizations who aim to mislead others,” a company spokesperson said in an e-mail. AP

U.S. Congress seals agreement on $900 billion Covid relief bill

W

ASHINGTON—Top Capitol Hill negotiators sealed a deal Sunday on a $900 billion Covid-19 economic relief package, finally delivering long-overdue help to businesses and individuals and providing money to deliver vaccines to a nation eager for them.

The agreement, announced by congressional leaders, would establish a temporary $300 per week supplemental jobless benefit and a $600 direct stimulus payment to most Americans, along with a new round of subsidies for hard-hit businesses and money for schools, health care providers and renters facing eviction.

It came af ter months of battling and posturing, but the negotiating dynamic changed in Republicans’ favor after the election and as the end of the congressional session neared.

President-elect Joe Biden was eager for a deal to deliver long-awaited help to suffering people and a boost to the economy, even though it was less than half the size that Democrats wanted this fall.

Biden praised the bipartisan spirit that produced the measure, which he called “just the beginning.”

“This is a model for the challenging work ahead for our nation,” Biden said in a statement.

House leaders informed lawmakers that they would vote on the legislation on Monday, and the Senate was likely to vote on Monday, too. Lawmakers were eager to leave Washington and close out a tumultuous year.

“There will be another major rescue package for the American people,” Senate Majority Leader Mitch McConnell, R-Ky., said in announcing the agreement for a relief bill that would total almost $900 billion.

“It is packed with targeted policies to help struggling Americans who have already waited too long.”

Democrats acknowledged it wasn’t as robust a relief package as they initially sought — or, they say, the country needs. House Speaker Nancy Pelosi vowed more to come once President-elect Joe Biden takes office.

“It is a first step,” she said. “We have to do more.”

A fight over Federal Reserve emergency powers was resolved Saturday night by the Senate’s top Democrat, Chuck Schumer of New York, and conservative Republican Pat Toomey of Pennsylvania. That breakthrough led to a final round of negotiations Sunday.

Still, delays in finalizing the agreement prompted the House to pass a one-day stopgap spending bill to prevent a government shutdown at midnight Sunday. The Senate was likely to pass the measure Sunday night as well.

The final agreement would be the largest spending measure yet. It combined $900 billion for Covid-19 relief with a $1.4 trillion government-wide funding plan and lots of other unrelated measures on taxes, health, infrastructure and education.

The government-wide funding would keep the government open through September.

Passage neared as coronavirus cases and deaths spiked and evidence piled up that the economy was struggling. The legislation had been held up by months of dysfunction, posturing and bad faith. But talks turned serious in recent days as lawmakers on both sides finally faced the deadline of acting before leaving Washington for Christmas.

“This bill is a good bill. Tonight is a good night.

But it is not the end of the story, it is not the end of the job,” Schumer told reporters. “Anyone who thinks this bill is enough does not know what’s going on in America.” AP

W

ILMINGTON, Del.—Just as the United States has needed a unified, national response to Covid-19, it needs one for dealing with climate change, President-elect Joe Biden said Saturday as he rolled out key members of his environmental team.

“We literally have no time to waste,” Biden told reporters as he introduced his choices.

The approach is a shift from Donald Trump’s presidency, which has been marked by efforts to boost oil and gas production while rolling back government efforts intended to safeguard the environment. The incoming Biden team will try to undo or block many of the current administration’s initiatives. There also will be an emphasis on looking out for the low-income, working class and minority communities hit hardest by fossil fuel pollution and climate change.

In his remarks, Biden stressed the diversity of an emerging team that he described as “brilliant, qualified, tested and they are barrier-busting.”

“Already there are more people of color in our Cabinet than any Cabinet ever, more women than ever,” said the former vice president, who has promised to assemble a group of department leaders who reflect the diversity of America.

The nominees Biden introduced Saturday had compelling personal stories that they cited as guiding

them if confirmed by the Senate.

New Mexico Rep. Deb Haaland would be the first Native American to lead the Interior Department, which has wielded influence over the nation’s tribes for generations. She said her life has not been easy. She struggled with homelessness and relied on food stamps at one point. “ T his moment is profound when we consider the fact that a former secretary of the Interior once proclaimed his goal, was to quote, ‘civilize or exterminate’ us,” Haaland said. “I’m a living testament to the failure of that horrific ideology.”

Haaland was referring to Alexander H.H. Stuart, who said that in 1851.

Former two-term Michigan Gov. Jennifer Granholm is in line to be energy secretary. She described arriving in the US at age 4 and brought from Canada by a family “seeking opportunity.”

She said her father found work as a bank teller and retired as head of the bank.

“It ’s because of my fa m i ly ’s j o u r ne y a nd m y e x p e r i e n c e i n f ight i ng for h a rdwork i ng Mic h iga n fa m i l ies t hat I have

President-elect Joe Biden announces his climate and energy team nominees and appointees at The Queen Theater in Wilmington Del., on December 19. AP/Carolyn Kaster

become obsessed, obsessed w it h ga ining good-pay ing jobs in A mer ica in a globa l econo my,” Gra n hol m sa id.

North Carolina official Michael Regan would be the first African American man to run the Environmental Protection Agency. Regan, the state environmental head since 2017, has made a name for himself by pursuing cleanups of industrial toxins and helping the low-income and minority communities significantly affected by pollution.

Regan said he grew up in North Carolina hunting and fishing with his father and grandfather and that he has great respect for the outdoors and the country’s natural resources, but he also had a respiratory condition that required him to use an inhaler.

“Since the start of my career, my goals have been the same,” Regan said. “To safeguard our natural

resources, to improve the quality of our air and water, to protect our families and our communities, and to help them see the opportunities of a cleaner, healthier world.”

Biden’s nominee to oversee the Council on Environmental Quality is Brenda Mallory. The office oversees environmental reviews for virtually all major infrastructure projects and advises the president on major environmental issues. If confirmed, she would be the first African American to hold the position since it was created more than half a century ago.

Two other members of the team introduced Saturday do not need Senate confirmation. They are Gina McCarthy, to serve as national climate adviser, and­ Ali Zaidi, to serve as her deputy. McCarthy was EPA administrator from 2013 to 2017 during President Barack Obama’s second term. AP

EU-UK trade talks floundering over fish as cutoff day nears

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RUSSELS—With yet another Brexit deadline disappearing in the rearview mirror, a breakthrough on fishing rights remained elusive for the European Union and Britain on Sunday—leaving both without a trade agreement that would dull the cutting edge of a chaotic, costly economic break on New Year’s Day. With hundreds of thousands of jobs at stake throughout the economy, the tiny sector of fisheries continued to drive a wedge between the 27-nation bloc and the UK, highlighting the animosity that drove them to a Brexit divorce over the past four years.

Britain left the bloc in January, but an 11-month economic transition period ends on December 31.

“We continue to work hard,” EU chief negotiator Michel Barnier said in a statement as light faded over EU headquarters on Sunday.

British Prime Minister Boris Johnson’s office said that the EU is “continuing to make demands that are incompatible with our independence. We cannot accept a deal that doesn’t leave us in control of our own laws or waters.”

Barnier didn’t question that both sides “have the right to set their own laws & control their own waters.” But, he countered, “we should both be able to act when our interests are at stake.”

The fighting words took away all hope that a deal could be found before midnight, which the European Parliament had set as a deadline if it was to have enough time to vet and approve the deal before New Year’s. Officials on both sides said positions had hardly moved throughout the weekend of near-

Britain’s chief negotiator David Frost leaves the UK ambassadors residence in Brussels on Sunday December 20. The EU and the United Kingdom are still working on a “last attempt” to clinch a post-Brexit trade deal, with EU fishing rights in British waters the most notable remaining obstacle to avoid a chaotic and costly changeover on New Year. AP/Virginia Mayo

continuous talks.

A senior British government official said that both sides “have been negotiating throughout the day and expect to continue tomorrow. Talks remain difficult and significant differences remain.”

The European Parliament’s top Brexit legislators are set to meet Monday to assess their options anew after their deadline was flatly disregarded by both sides. Deadlines have been set and missed almost throughout the four-year acrimonious divorce proceedings.

The legislature’s top Brexit official said parliamentary approval would not be possible during the remaining days this year, leaving it unclear how the parliament could give its consent to any deal.

“We have just learned that there will be no agreement today,” German MEP David McAllister said in a statement late Sunday. “There-

fore, the European Parliament will not be in a position to grant consent to an agreement this year.”

The almost mythical sense of Britain’s rights to rule its waves was an essential part of what drove Brexiteers to victory in the 2016 referendum. Johnson is seeking to make sure that as much as possible of the shared British waters are now returned to UK vessels only.

The EU has always maintained that those waters have been shared for decades, if not centuries, and insists if too many fishing rights are taken away, it will punish Britain by imposing hefty import fees to the mainland market, which is essential to the UK seafood industry.

The stalemate has left the overall talks inconclusive with businesses on both sides clamoring for a deal that would save tens of billions in costs. Johnson, though,

could not be budged.

“We need to get any deal right and based on terms which respect what the British people voted for,” his office said.

One official from an EU coastal nation said the EU was refusing to yield more than a quarter of the fishing quotas the bloc stands to lose now that Britain is regaining full control of its waters due to Brexit. Britain is also steadfast that a 3-year transition period would be long enough for EU fishermen to adapt to the new rules, while the EU wants at least six years.

The official spoke on condition of anonymity because the talks were still ongoing.

A failure to reach a post-Brexit deal would lead to more chaos on Britain’s borders with the EU at the start of 2021, when new tariffs would add to other impediments to trade enacted by both sides. The talks have bogged down on two main issues over the past days—the EU’s access to UK fishing waters and assurances of fair competition between businesses.

A trade deal would ensure there are no tariffs and quotas on trade in goods between the two sides, but there would still be technical costs, partly associated with customs checks and non-tariff barriers on services.

While both sides would suffer economically from a failure to secure a trade deal, most economists think the British economy would take a greater hit, at least in the near-term, as it is relatively more reliant on trade with the EU than vice versa. AP

A10 Tuesday, December 22, 2020 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Congressional absurdity

T

here is no better argument in favor of a smaller, less costly and more accountable government than the absurdity of the House of Representatives having 32 deputy speakers.

Especially at this time, when the government is racking up debts to combat the pandemic, trying to make government services more effective and efficient, to make the most out of its limited resources, it really makes one ask: Why do we need 32 deputy House speakers?

Raising the number of deputy speakers to 32 during this 18th Congress— the highest number of lawmakers holding such a position in the history of the House—only means additional budget allocations next year, according to political analysts.

This was the subject of a recent story we published, written by our House reporter Jovee dela Cruz.

During the last session day of Congress for 2020, the House elected Cavite 8th District Rep. Abraham “Bambol” Tolentino and Davao City 3rd District Rep. Isidro Ungab as its new deputy speakers.

Just a few days before, House Speaker Lord Allan Velasco administered the oath of office of newly elected deputy speakers, namely, Reps. Arnulfo Teves Jr. (Negros Oriental), Juan Pablo Bondoc (Pampanga), Eric Martinez (Valenzuela City), and Weslie Gatchalian (Valenzuela City).

The plenary also recently elected Rep. Bernadette Herrera of Bagong Henerasyon, Rep. Kristine Singson Meehan of Ilocos, Rep. Divina Grace Yu of Zamboanga del Sur, Rep. Rogelio Pacquiao of Sarangani and Rep. Bienvenido Abante Jr. of Manila as new deputy speakers.

Meanwhile, other deputy speakers include Rep. Salvador Leachon of Oriental Mindoro, Rep. Ferdinand Hernandez of South Cotabato, Rep. Evelina Escudero of Sorsogon, Rep. Loren Legarda of Antique, Rep. Conrad Estrella III of Abono Party-list, Rep. Prospero Pichay Jr. of Surigao del Sur, Rep. Roberto Puno of Antipolo City, Rep. Eduardo Villanueva of Cibac Party-list, Rep. Michael Romero of 1-Pacman, Rep. Neptali Gonzales II of Mandaluyong, Rep. Lito Atienza of Buhay, Rep. Rose Marie Arenas of Pangasinan, Rep. Rodante Marcoleta of Sagip, Rep. Henry Oaminal of Misamis Occidental, Rep. Pablo John Garcia of Cebu, Rep. Deogracias Victor Savellano of Ilocos Sur, Rep. Vilma Santos Recto of Batangas, Rep. Mujiv Hataman of Basilan and Rep. Rufus Rodriguez of Cagayan de Oro City.

UP Political Science Assistant Professor Jean Franco said that aside from their regular office budgets, the deputy speakers also get additional budgets and additional staff for their offices at the Batasan Pambansa Complex in Quezon City, as well as their district offices. They also automatically become exofficio members of all House committees, meaning they have voting powers.

Political analyst Ramon Casiple described the election of new deputy speakers as a “very partisan move.”

“Nothing much was done. It was just splitting funds,” Casiple noted. “The appointment of numerous deputy speakers will not serve their respective constituents. Their bloated allowances will only bleed the public’s coffers dry.”

Indeed, the expenses of the House seem to be increasing in proportion to its number of speakers.

In 2017, after then Speaker Pantaleon Alvarez (Davao del Norte) appointed 14 deputy speakers, the Commission on Audit reported that the House’s spending increased 16 percent from the previous year to P8.27 billion. In 2018, it increased by 21 percent to P10.02 billion.

The House started with just three deputy speakers during the 8th Congress.

They were supposed to represent the three major islands of the country—one each for Luzon, the Visayas and Mindanao.

Deputy speakers assume the duties and powers of the Speaker in his absence or temporary incapacity. In case of resignation, removal, permanent incapacity or death, deputy speakers take over until such time that a new Speaker is elected and qualified. They also preside over the session if they are designated as temporary presiding officer.

So, does it really take 32 deputy speakers to be on standby and serve in case the Speaker of the House is incapable of doing his duties?

Perhaps not many Filipinos suffering during this pandemic will agree that having so many deputy speakers can provide benefits greater than their costs; that it could translate to the House making better decisions, policies and laws; or that it could lead to the House having more integrity and leadership the country needs now.

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Reopening key to speedy vaccine distribution in PHL Manny B. Villar

THE Entrepreneur

F

irst of all, let me greet you Merry Christmas. May our Lord bless everyone as we celebrate this meaningful occasion, while still observing health protocols, to protect and cherish our family and loved ones.

This year has been a challenging one, but I like to believe the worst is over. Despite the 10-percent contraction in the gross domestic product in the first three quarters of 2020, we see silver linings on the horizon.

Several countries such as the United Kingdom, the United States, Russia and China have started dispensing Covid-19 vaccine shots to their people. While it may still take a few weeks or months before the vaccines become available in the Philippines, we should use the lag time to enhance our logistics sector so that we can properly handle the storage and distribution of the vaccines.

It will also give us an opportunity to assess and learn lessons from the first countries to administer mass vaccination. This does not mean we should wait too long. In fact, the Philippines’s Food and Drug Administration should take the cue from other international regulatory agencies that issued emergency authorization

for the vaccine use.

We need to encourage the private sector to invest in the vaccine supply chain, including freezer vans and warehouses that are capable of storing the delicate vaccines at extremely low temperatures. Let us also make sure that our transport infrastructures are up to the task, including seaports, airports and highways.

The cost of shipping, airfreight and trucking should be reduced to avoid passing on additional charges to vaccine prices.

The safe opening of the economy will be crucial to the fast and efficient distribution of the vaccines to our people. The reopening will lead to an overall improvement in our logistics and distribution sector, which will play a key role in our economic rebound.

International Finance Corp., the private sector arm of the World Bank, estimates that logistics accounts for 6 percent to 25 percent of a country’s

Despite the serious challenges we faced in the past 10 months, there are a lot of things we should be thankful for this Christmas. We have a resilient economy, thanks to our solid fundamentals, political stability and the contribution of our OFWs. We have a thriving labor market that is ready to unleash its full potential once the pandemic dissipates, hopefully by next year. So, let us remain upbeat and be prepared for the coming year.

gross domestic product. Countries with efficient logistics sectors are able to keep products and services more affordable to their people.

This is why we need to keep the economy open and the supply chain fully functional. The National Economic and Development Authority is right—a calibrated and gradual resumption of businesses with strict implementation of health and safety protocols are critical in reinvigorating the economy.

Neda has cited the need for logistics reforms, such as rationalizing the freight system and establishing strategic warehousing and cold chain networks to bring down costs, improve the trade sector’s competitiveness and help the economy recover from the impact of the pandemic.

If we make it easier and more affordable for the people to trade and

transport goods, they will do so enthusiastically and contribute to economic recovery.

Help from abroad

Overseas Filipino workers, meanwhile, are already doing their part in the economic recovery, as they sent $2.75 billion to their families in October alone, up 2.9 percent from $2.67 billion in the same month last year, notwithstanding the situation in the countries they work in. Total cash remittances in the first 10 months amounted to $24.633 billion, or almost unchanged from the same period last year.

Remittances account for about a tenth of our gross national income, formerly known as gross national product. They support household spending as well as several industries like banking and finance, healthcare, education, real estate, automotive, retail, tourism and travel, hotel and accommodation and food establishments.

Money sent home by OFWs will likely further increase in December to support the domestic economy.

This Christmas, we should remember the sacrifice of our OFWs as they continue to provide a lifeline to our economy amid the challenging period.

Remittances also help stabilize our foreign exchange rate. The peso is among the strongest currencies in the region this year, thanks to the foreign exchange inflows from more See “Villar,” A11

The cold, hard barriers to getting vaccinated

By Anjani Trivedi | Bloomberg Opinion

D

octors, nurses and other essential workers are getting vaccinated against Covid-19 in the US and UK. Yet in Asia, where several countries led the way in reining in the viral outbreak, there are few signs that detailed distribution plans are ready to be implemented. Supplies are limited and unknowns plentiful. Governments need to jump-start the process to get shots into arms. In most cases, however, their capacity to distribute the vaccine is a constraint or simply doesn’t exist.

Some nations have signed on to procurement and advanced purchasing plans from vaccine manufacturers. Others are working on collaborations and homegrown options. But everywhere, the need to maintain optimal temperatures for certain vaccines raises hard issues, such as cold-storage warehouses and adequate last-mile delivery.

McKinsey & Co. has said that just 1 percent of existing vaccine distribution networks is set up for cold-chain requirements that keep the new Covid-19 serums viable—temperatures at the frozen or deep frozen levels.

Most low- and middle-income countries can’t afford the infrastructure

investment in a short period. Many may have to borrow from multilateral organizations like the World Bank. That means limited funding and one shot at getting it right.

So how do governments in their second, third or even fourth waves prepare? Most are using immunization plans from previous vaccine rollouts. These were typically targeted at pregnant women and children, which are not the populations at the top of the list in this pandemic.

India’s universal immunization program covers 26 million infants and 29 million mothers annually and is the largest of its kind in the world.

Yet experts say it won’t be sufficient.

Andrea Taylor of Duke University’s Global Health Institute says distribution plans will be based on four scenarios, rooted in refrigeration temperatures. Most mid-income and poorer countries have ruled out vaccines that need deep freezing, she says, and are preparing for the standard refrigeration scenario. Eventually, heat-stable vaccines and nasal spray formats could be the way.

Andrea Taylor of Duke University’s Global Health Institute says distribution plans will be based on four scenarios, rooted in refrigeration temperatures. Most mid-income and poorer countries have ruled out vaccines that need deep freezing, she says, and are preparing for the standard refrigeration scenario. Eventually, heat-stable vaccines and nasal spray formats could be the way.

None of this is easy, but vaccine rollouts have always been more problematic in non-wealthy countries. Al-

most two decades after the hepatitis B vaccine came out, the population covered was estimated at around 90 percent in the Americas and just 28 percent in Southeast Asia, where the disease is a far larger problem.

South Korea’s concurrent experience with a campaign to inoculate 30 million people against influenza shows that there’s always room for error, even in countries with wellestablished plans. The government recalled more than 1 million doses, to be on the safe side, after photos circulated online of boxes of vaccines stacked in parking lots. Health authorities said that they found no direct causal links between the flu vaccine and the deaths of more than 100 people who died after getting it. But the panic means that only 19 million people have so far taken the shots. Singapore suspended its use. South Korea was an early global model for tracking, tracing and testing the rapid spread of Covid-19, but it’s facing another surge in cases. Prime Minister Chung Syekyun says authorities will come up See “Trivedi,” A11

www.businessmirror.com.ph

Opinion

Thinking of Rod…

The US presidential transition

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By Etta P. Rosales | Claimants 1081

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tty. Rod Domingo took over the place of Atty. Velez as Filipino partner of Bob Swift in the victorious class suit we had won in 1992 when the Hawaii District Court ruled—for the first time in a court ruling—that Marcos was guilty of human-rights violations. Three years following, the class suit was awarded $1.9 billion for both exemplary and compensatory damages.

In the entire process—from 1992 to the present—Rod was Bob’s Filipino Counsel who explained to us the intricate process of the continuing class suit struggle which succeeded in gaining for the claimants three distributions here in the Philippines (2011, 2014, 2019) despite the apathy, even hostility of the Philippine government.

As Filipino counsel, Rod was very generous in several ways, but we remember him most in two ways: He always found time to explain to us claimants the intricate legal processes demanded of a class suit and he did this through generous cups of brewed, hot coffee, tasty sandwiches and inviting pancit with lots of recado. We would spend an hour for the class suit as Claimants 1081 but another hour and a half on political analysis of the current situation, whoever was sitting as post-Marcos president – from Erap to the present.

There is another side to Rod I wish to mention. Ultimately, he got very sick but he never talked about it. He only said he and Senator Miriam Santiago were taking the same medicine, so we had an inkling of what it was. And because I suffered the same illness, he would tell me we come from the same family of grass and it is hard to kill our kind.

So we would talk about death…until we heard of Senator Miriam’s death. He never took pity on himself. He had countless bouts going back and forth to the hospital, but he would bounce back and I would visit him for regular talks as best as we still could, until we saw how he got weaker and weaker, he needed an assistant to take over.

Villar. . .

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than 10 million OFWs and Filipino migrants.

In fact, our gross international reserves hit an all-time high of $104.51 billion as of November 2020, which is more than adequate to cushion the domestic economy against external shocks. According to the Bangko Sentral ng Pilipinas, this buffer is equivalent to 11.2 months’ worth of imports of goods and payments of services and primary income, which is above the international benchmark of just three months.

The BSP expects the GIR to further rise to $105 billion by December,

Trivedi. . .

Continued from A10

with a plan allowing pre-purchased vaccines to be acquired in the first quarter of 2021; the country has said it’s in the process of securing doses from companies including AstraZeneca Plc, Moderna Inc., Pfizer Inc. and Johnson & Johnson’s Janssen Pharmaceuticals Inc. But the health minister has said there’s no hurry “when the risks have not been verified yet.” That’s a fair concern.

However, Covid-19 doesn’t allow the luxury of time of the typical manufacturing supply chain. “We cannot afford a sequential process,” David Simchi-Levi, director of the MIT Data Science Lab, told Supply Chain Dive. “We need to start the manufacturing capacity today, and the problem is it requires significant investment.”

Then there’s the more mundane but crucial matter of trade facilitation: how to get vaccines across national borders. Think of this as the software of trade—approvals, customs, tariffs, rules and regulations on inspection services, certification, permissions, how packages are handled, and the intellectual property

Rod became a close friend. There were times he would say there are just a few of us so we stick together and we don’t give up our fight for the implementation of the class suit we had won. Rod and the claimants have always admired Bob’s passion for the class suit implementation. But if Bob had the passion and the rigor, Rod had the wit, the warmth and a love for the good life that made the struggle for the class suit fun for all of us even if we felt much hostility all around.

We will miss Rod. I offer each Mass in the nine-day Misa de Gallo for the repose of his soul and that of Zeny Mique of Claimants 1081 who left us last June 2019. Judge Real, who made the Hawaii Ruling for the class suit died in 2019 too.

All three of them played their significant roles in making sure that thousands of Filipino victims and survivors under martial rule are compensated. While the compensation was just enough to save for a kid’s three years of education, or badly needed repairs in the house, what the class suit distribution gradually symbolized for us in spirit was the self-esteem, the dignity that is restored in each and everyone; that as a human being, whether activist or ordinary farmer, each one must be recognized and duly compensated for the abuses suffered under the repressive rule of Marcos.

Goodbye Rod. You have done your part and we are grateful, the people who suffered under Marcos are grateful. But it is time to go home.

Manny F. Dooc

TELLTALES

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he US presidential election does not end at the close of polls nor at the time when a clear winner is called by credible media organizations based on the results of the voting. In fact in the recent election, President Donald J. Trump has not conceded to Joe Biden even after the presidential electoral college has duly voted for Biden as the duly President-Elect of the US. Not even the rejection by the US Supreme Court of Trump’s and his lawyers’ allegation that the election was stolen has stopped Trump from his harebrained and quixotic quest of overturning Biden’s victory at the polls. Thus, we have not seen a peaceful presidential transition less than 30 days before the inauguration of Biden, the 46th President of the US. Trump continues to defy overwhelming evidence that he lost the last election fair and square. It’s a good thing that the extended lame-duck period for the outgoing president was cut short from March 4 to January 20 at noon by an amendment to the US Constitution on January 23, 1933.

Can you imagine what Trump can, or not, do, if he stays in office until March 4? He’s a lame duck who still wants to call the shot.

One important part of the transition process is the relationship of the two principal characters on the inauguration of the President-elect every January 20 following the election. It’s a tradition for the PresidentElect and his wife to pick up the outgoing president and his First Lady for a joint ride to the Capitol to attend the inauguration. How they treat and behave towards each other during this brief journey speaks volume of their mutual esteem. For instance, when the Eisenhowers reached the White House to fetch Truman, they refused to enter for the usual cup of coffee and small talk and they stayed inside the car until the Trumans came outside. It was a chilly journey to the inauguration site with hardly

any exchange of words. The Trumans “had thought that since the relations between himself and the incoming President were, to state it gently, strained, he [President Truman] and Bess might have to walk from the White House to the railroad station, or perhaps take a taxi.” Soon after the swearing in of Eisenhower, the Truman couple went to the Union Station and took the train from Washington back to their home in Independence, Missouri.

The Bill Clinton-George W. Bush transfer of power in 2000 was marked by bitterness, which was inevitable following the hotly contested election between Bush and Vice President Al Gore. A case reached the Supreme Court, which ordered the Florida re-

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

rules. An Asian Development Bank study in 2017 found that getting it right increases immunization rates, especially in low-income countries.

A look at the trade of medicines, totaling almost $50 billion globally, shows why the process isn’t so straightforward. Some regulations seem absurd in a time of global pandemic. For instance, the average applied tariff for hand soap is 17 percent, while some World Trade Organization members put it as high as 65 percent. The average tariff on protective supplies is 11.5 percent.

In May, Canada invested more than $40 million to upgrade a vaccine production facility in Montreal “to ensure readiness for Canadian bioprocessing of potential vaccine candidates as they become available.” It was supposed to produce 250,000 doses by November. Then a partnership with China’s CanSino Biologics Inc. fell apart because Chinese customs authorities held up the first shipment of trial doses to Canada.

Without a timely and straightforward way to get a vaccine, Covid-19 won’t be eradicated. And the economic recovery that we see signs of won’t really take off.

count of votes stopped resulting in the electoral victory of Bush. Allegations were made that the outgoing administration ripped cable and telephone lines, defaced the bathrooms and vandalized some equipment at the White House resulting in some $15,000 worth of damages.

When it was his turn to pass power to Barack Obama, President Bush cooperated and extended all help to his successor. Bush even left a short personal letter of best wishes to Obama inside the drawer of the presidential desk. In the New York Times best seller, “Becoming”, PresidentElect Barack Obama and his wife, Michelle Obama, visited the White House soon after the election upon invitation of Bush. The First Couple warmly welcomed the Obamas, burying whatever political hard feelings they had during the campaign. Bush, as the leader of the Republican Party, supported John McCain against Obama for president. But soon after the election, Bush vowed to make the turn over of power the smoothest presidential transition ever. Bush ordered every department under the POTUS to prepare briefing materials for the incoming administration to prepare them for the job ahead.

Michelle Obama was shown every room of the White House by First Lady Laura Bush who recalled that her predecessor, Hillary Clinton, did the same to her. Bush’s conduct is considered as the “gold standard” for a presidential transition. It is heartening that the outgoing President through an orderly transition process passes on to his successor the wisdom he has gathered during his term in office. It is also an occasion when the incumbent President points out any major blunder he has committed as the President so that the President-

elect can avoid the same pitfall. It is a laudable tradition that should be observed and maintained if the US wants to remain as the show window of democracy and good government in the eyes of the whole world.

Biden would be occupying an office which only 45 people had held before. He would need every pointer to successfully perform his new job.

The transition allows the incoming president to prepare for his take over of the federal government from the outgoing administration. It’s the time when the incoming president selects and names his cabinet members, White House staff and outlines his immediate agenda which he shall prioritize during the first 100 days of his administration. Every Presidentelect aims to achieve them before Christmas Day. A peaceful transition of power is a big step toward unification following a bitter and divisive election campaign. It is heartening when an outgoing president carries out an effective and orderly transition of power to his successor. There were US presidents who did not attend the inauguration of their successor. The father and son, John Adams and John Quincy Adams, smarting from their loss in their reelection bids, did not join Thomas Jefferson and Andrew Jackson when they were sworn into office, respectively. Likewise, Andrew Johnson stayed at the White House to sign documents. Johnson was slighted when President-elect Ulysses Grant refused to ride with him in the same carriage. The big question is: given the recalcitrant and belligerent behavior of Trump towards Biden, will Trump attend Biden’s inauguration?

I hope Trump will not let this great opportunity pass. It will be his final act to heal a divided America.

CREATE Bill’s VAT amendments and real property exemptions

Loretta Ann Rosales is a former chairman of the Commission on Human Rights.

equivalent to 11.6 months worth of import cover.

Despite the serious challenges we faced in the past 10 months, there are a lot of things we should be thankful for this Christmas. We have a resilient economy, thanks to our solid fundamentals, political stability and the contribution of our OFWs. We have a thriving labor market that is ready to unleash its full potential once the pandemic dissipates, hopefully by next year. So, let us remain upbeat and be prepared for the coming year.

Again, let me greet everyone— Merry Christmas!

Tuesday, December 22, 2020 A11

Atty. Lino Ernie M. Guevara

Tax law for business

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S the end of 2020, a year like no other, draws near, the CREATE Bill also inches closer to becoming a law.

The last week of November saw the Upper House approving Senate Bill 1357 in its third and final reading. SB 1357, now known as the CREATE Bill (Corporate Recovery and Tax Incentives for Enterprises Act), with its pre-pandemic sobriquet Citira (Corporate Income Tax and Incentives Rationalization Act), was certified by the President for immediate enactment. Initially, the Lower House announced its intention to adopt the Senate version en toto. But our congressmen, as of this writing, backpedaled and are now gunning for the Bicameral Conference Committee to reconcile their differing versions of the bills.

This may delay its enactment, as feared by the Senate.

The CREATE Bill falls under the government’s Tax Reform Package 2, after Package 1 was successfully shepherded into law, the Tax Reform for Acceleration and Inclusion Law amending our 1997 Tax Code. But unlike previous tax reform bills, CREATE is sort of sui generis, a class by itself.

Ironically, CREATE, as succinctly described by the Department of Finance, is the country’s “first-ever revenueeroding tax reform package” proposed.

Instead of raising more revenues for the government, CREATE was recalibrated as a response to the economic havoc of the Covid-19 pandemic. Thus, it morphed into what is supposedly the largest fiscal stimulus program for enterprises in the country’s history.

CREATE is creating headlines mainly due to the promised drastic cut in the Philippine corporate income tax (CIT) as well as the rationalization of the fiscal incentives under various special laws, including the withdrawal of the 10% special tax rate for Regional Operating Headquarters by December 31, 2021 and subjecting it to the regular corporate income tax.

Ditching the graduated and yearly decreases in the tax rate as previously espoused under the Citira Bill, CREATE goes for the jugular by having an outright 5 percentcut from the CIT rate to make it 25 percent retroactive to July 1, 2020. The rate is further reduced to 20 percent for domestic corporations

with net taxable income not exceeding P5 million and with total assets not exceeding P100 million, excluding the land on which the entity’s office, plant and equipment are situated. But the real deal of the bill was rationalizing the fiscal incentives granted to various qualified companies under different incentive laws. In gist, it seeks to plug leaks in the government’s much needed revenue collection. It likewise reduces the Minimum Corporate Income Tax from the current 2 percent to only 1 percent from July 1, 2020 to June 30, 2023. One welcome news for the education and health sectors is the reduction of the CIT beginning July 1, 2020 until June 30, 2023 from 10 percent to 1 percent CIT covering proprietary educational institutions and hospitals which are nonprofit. The 10 percent Improperly Accumulated Earnings Tax, which usually is a staple issue during a tax audit, is repealed. Although some of these cuts are merely timebound, they are nonetheless beneficial and critical for companies during this time of tumult.

But for this article, I would like to highlight more CREATE’s proposed amendments in our current business taxes, specifically the percentage tax and value added tax (VAT) exemptions.

First, there would be a reduction of the percentage tax rate imposed on persons whose sales are exempt from VAT (i.e., not having exceeded the P3

million threshold for sale or lease of goods or sale of service) from 3 percent to 1 percent effective July 1, 2020 until June 30, 2023.

Now, the VAT exemptions under the CREATE Bill include the following: 1. Sale, importation, printing or publication of books, newspapers, etc. and now to include journal and educational reading materials under the Unesco Agreement and their digital or electronic format; 2. Sale or importation of certain prescription drugs and medicines including those for cancer, mental illness, tuberculosis and kidney disease beginning January 1, 2021(instead of January 1, 2023); 3. Sale or importation of the following beginning January 1, 2021 to December 31, 2023: a. Capital equipment, spare parts and raw materials for the production of personal protective equipment components (e.g., coveralls, gown, surgical cap/mask and N95 mask, gloves, etc.). b. All drugs, vaccines and medical devices for Covid-19 treatment. c. Food and Drug Administration (FDA)-approved drugs for Covid-19 treatment for use in clinical trials, including raw materials directly necessary for the production of such drugs, subject to certain conditions and that the same will be subject to post-audit

by BIR and BOC, as may be applicable.

Lastly, and one of the more important amendments at that, pertains to the sale of real property.

For one, SB 1357 increased the threshold amount for the purchase of residential lot to P2.5 million and below (from the current rule of P1.5 million and below) and house and lot and other residential dwellings valued at P4.2 million and below (from the current P2.5 million and below).

Following the current proviso of Section 109 (P) of the 1997 Tax Code, as amended, the sale of low-cost housing will already be subjected to VAT beginning January 1, 2021 and that only the sale of house and lot and other residential dwellings with selling price of not more than P2 million shall be VAT-exempt. With CREATE’s deletion of this sunset proviso under the current law, it in effect restores said VAT exemption for the sale of low-cost housing and residential lot

with an increased threshold amount.

It likewise retained the VAT exemption for the sale of house and lot and residential dwellings further granting the increased threshold of P4.2 million from the previous one of P2.5 million.

If passed, the amendments on real property VAT exemptions could be great news for the real estate developers and other stakeholders in the housing sector, in general. The housing advocates are concerned that the withdrawal by the current law of said exemptions starting next year would certainly increase the cost of acquiring a home. And this would be a major setback to the housing sector faced with a colossal housing backlog. According to reports, the Department of Human Settlements and Urban Development pegs the country’s housing need at a whopping 6.5 million that could balloon to 22 million by 2040. And there seems to be no panacea for this housing conundrum anytime soon. On the other hand, some tax reform groups are opposed to such grant of continuing VAT exemptions as they will just purportedly erode government’s tax collections and undermine the VAT efficacy. This stirs a balancing act for the government tasked to increase tax collection but expected to fulfill its mandate to address the basic need for shelter of its populace.

We should all be discerning on what the final CREATE Bill would be. For CREATE will be critical as to how we cope in our continuing fight against this pandemic and would even be more telling as to charting our country’s future economic growth and competitiveness in the region for the years to come.

And in closing for this final article, let me ardently wish you all a safe but still a Merry Christmas and a hopefilled New Year come 2021.

The author is a Special Counsel of Du-Baladad and Associates Law Offices (BDB Law), a memberfirm of WTS Global.

The article is for general information only and is not intended, nor should be construed as a substitute for tax, legal or financial advice on any specific matter. Applicability of this article to any actual or particular tax or legal issue should be supported therefore by a professional study or advice. If you have any comments or questions concerning the article, you may e-mail the author at ernie.guevara@ bdblaw.com.ph or call 8403-201 local 160.

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Gatchalian: RFID mess still being monitored

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EN. Sherwin Gatchalian bared “more loopholes” in the glitchridden radio frequency identification (RFID) cashless toll collection system at the expressways, as calls mounted for the relief of regulators who had allowed the poor state of affairs to go on for the past few years.

Gatchalian revealed more problems even as his brother, Valenzuela Mayor Rex Gatchalian, conditionally restored the business permit of the Nlex operator, the Metro Pacific Tollways Corp., on the latter’s failure to promptly resolve RFID glitches that had caused long lines of vehicles near the Valenzuela toll booth, causing traffic jams.

Senator Gatchalian indicated they are keeping close watch of the promised reforms even as “more loopholes” were uncovered in the implementation of the RFID system.

A c cord i n g to S e n ator Gatc h a l i a n, t he g l itc hes prompted Department of Transportation (DOTr) Secretary Arthur Tugade to “accede to the overall impression of failure of leadership and failure of enforcement of regulatory officials manning the expressways.” He was alluding to the DOTr’s a nd t he Tol l R eg u l ator y Board ’s (TRB) imposition of an arbitrary deadline for the shift to a cashless system, without making enough preparations.

At a recent Senate hearing on the RFID fiasco, Gatchalian said lawmakers learned that “the mandatory cashless toll collection proceeded, even sans any clear-cut policy and sanctions against erring toll operators, plan on the site for installation and reloading lanes, and without ensuring first whether there are still glitches in the system.”

T he sen ator l a mented that Tugade “subscribed to ineptness in overseeing the

accountability of toll operators due to the absence of any specific sanctions or penalties and key performance indicators.”

Grilling transportation officials at the recent Senate hearing, Gatchalian asked “Whose leadership are you talking about? You said leadership, whose leadership?” In reply, Tugade pointed to “the head of the TRB (Toll Regulatory Board), the executive director, among others.” Tugade sits as the chairman of the board in the TRB, overseeing its executive director Abraham Sales.

Sales, in turn, informed senators that “the matter on the glitches in the RFID system was only discussed in a consultation meeting after the DOTr issued Department Order (DO) No. 2020-012— the policy mandating cashless transactions in all toll roads in the country beginning December 1, 2020.” Moreover, he said those glitches are “still currently being addressed by toll operators.”

Gatchalian joined Senator Grace Poe, Public Services Committee cha ir man, in highlighting, among others, “the lack of schedule of penalties in the concession agreement of the TRB with Nlex Corporation, operator of the 101-kilometer North Luzon expressway (Nlex), the gateway of Metro Manila to Central and Northern Luzon, as well as in the i mpleme nt i ng r u les a nd regulations (IRR) of DOTR’s department order.

The senators lamented the lack of any existing sanctions and performance standards that could hold toll operators liable on issues such as the radio frequency identification (RFID) mess. “How did it come to this when we have regulators assigned and given powers to do their job?

We are shortchanging the motorists,” Gatchalian said.

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By Samuel P. Medenilla

@sam_medenilla

HE deployment of overseas Filipino workers (OFW) to Qatar is expected to pick up next year, especially once it starts its vaccination drive against the novel coronavirus disease (Covid-19) in the coming weeks.

In an online press briefing on Monday, Labor Attache for Qatar David Dicang said OFWs may be included in the initiative of the Qatari government to immunize the people within its jurisdiction.

He said the Qatari government was able to secure its first shipment of vaccine from Pfizer and BioN-

Tech on Monday, and this will be first administered to elderly people, those with chronic diseases, and the frontline health workers.

It is expected to start its free vaccination drive for the general population, which includes OFWs, within its jurisdiction by next month.

“Although it is not mandatory, they are encouraging the public to choose to take the vaccine,” Dicang said.

Dicang said the people in Qatar are expected to avail themselves of the benefit since airlines, hotels and stadiums in the Arab country may require their clients to be first vaccinated for Covid-19 before being allowed entry.

Business rebound

The labor official is confident the vaccination can restore customer confidence in Qatar, allowing more business to expand their pandemicstricken operations.

“Once there is a vaccine, it [quarantine restrictions] will be less stringent and the jobs will flow. We are hoping for a better and more jobs for our Filipinos here in Qatar,” Dicang said.

Despite the pandemic, he said

the demand for Filipino health care workers and those employed in the hospitality sector remains high.

He did admit that the Covid-19 has affected the employment of at least 26,000 OFWs. Of the Covid-affected OFWs, he said 15,000 were already given the one-time P10,000 cash aid through the DOLE’s Abot Kamay Ang Pagtulong for OFWs (Akap) program.

“We are still distributing the [Akap for the] remaining 5,000 to 20,000 in a couple of weeks times,” Dicang said.

Most or 17,000 of the OFWs, Dicang said, opted to remain in Qatar despite the uncertainty.

“The DOLE-Akap may have been crucial for them to stay [in Qatar] and then work again,” Dicang said.

There are currently, 260,000 OFWs in Qatar. Most or 90,000 of them are employed as household service workers (HSW).

Butch Fernandez

USAID, Popcom to young Pinoys: ‘It’s OK to delay!’

HERE are important things in life that cannot be delayed: paying bills, having birthdays, and getting older—to name a few. But there are some life decisions that can be postponed. Having a baby is one of those.

With that in mind, the Commission on Population and Development (Popcom) and the United States Agency for International Development (Usaid) launched the “It’s OK to Delay!” socialmedia campaign to urge young Filipinos to consider the right time to have a first baby. The 2017 National Demographic and Health Survey found that young Filipino women often get pregnant within a year of beginning sexual activity.

“It’s OK to Delay!” recognizes that young people can have a variety of educational and economic goals—such as finishing school, getting a promotion at work, or owning a house—that they want to achieve before building their own family.

The campaign will introduce family planning (FP) methods that will give them peace of mind while they are pursuing personal goals until they are ready to have a newborn.

“Young adults 18 to 30 years

OFWs in Qatar vaccine plan; deployment seen rising in ’21

old are not traditionally reached by family planning demand-generation activities,” said Michelle Lang-A lli, Usaid/Philippines Office of Health Director. “‘It’s OK to Delay!’ will let these young Filipinos know they have options too—and that it’s okay to wait until the time is right to have a baby and start a family.”

“It’s OK to Delay!” uses humor and a playful vibe to urge young people to engage in “adulting” with confidence and pursue their aspirations, whether big or small.

“The campaign’s non-threatening approach is designed to let young people know they have FP options, and that it is alright to ask for—and receive—FP information and services,” Popcom Undersecretary Juan Antonio Perez III, MD, explained. “They can visit their local health centers or pharmacies, or call the Popcom Helpline, at 09175970770 and 09988652810 for information and referral to FP services.”

A joint engagement between USAID and Popcom, “It’s OK to Delay!” can be found on Facebook, Twitter and YouTube, where it features a humorous four-episode video series, “That Tita.”

Senior citizens, among those badly impacted by the pandemic, are feted to a pre-Christmas gathering inside the Camillus Medhaven facility in Marikina City. The elderly aged 65 above are not allowed to go out because they are among those deemed vulnerable to the Covid-19 infection. BERNARD TESTA

‘After raising Unclos Award, PHL should move more on WPS’

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RESIDENT Duterte should follow up on his invocation at the United Nations of the 2016 Unclos Award to the Philippines with more concrete actions that build on the momentum from countries in the Asean, the United States and in Europe—all of which slammed China’s bully tactics in the South China Sea, Manila’s former top diplomat said Monday.

Invoking the July 2016 ruling of the Permanent Court of Arbitration, favoring the Philippine position, “is not enough,” said former Foreign affairs Secretary Albert del Rosario. “It is critical that the Philippines, as the party which won the Award, undertake actions that actually enforce the Award. As we said before, there is no world policeman and it is up to us to enforce this victory for the Filipino people, as well as for the Rule of Law that is followed by almost all nations,” he said in a statement sent to media.

“Given the consolidating support of the Unclos Award not only by the

South China Sea countries but also

by States which follow Unclos, it makes abundant sense for our Philippine Government to act now.

“Our Philippine Government should actively build on this support by entering into conventions or treaties with countries which embody the Award; we should welcome and join joint patrols and freedom of navigation and overflight operations (Fonops) conducted by the United States, United Kingdom, France, Australia and Japan; and we should develop a credible defense posture to protect our land and waters from the invasive tactics of China.”

He asserted that while 2020 may be the year of the Covid-19 global pandemic, it was also “a year where a number of countries came out to strongly oppose China’s expansionism in the South China Sea, as China took advantage of the pandemic to further its legally and historically baseless claims.”

On July 13, 2020, US Secretary of State Michael Pompeo declared that the United States is “aligning”

its position on China’s maritime claims with the July 12, 2016 Arbitral Award that the Philippines won against China under the 1982 United Nations Convention on the Law of the Sea (Unclos), del Rosario recalled.

US “alignment” with the Unclos Award, he said, “unequivocally means that the US is siding with the Philippines over its rights in the West Philippine Sea. This is backed by last year’s pronouncement by Secretary Pompeo that the US-PH Mutual Defense Treaty applies in the South China Sea as part of the Pacific and “any armed attack on any Philippine forces, aircraft, or public vessels in the South China Sea will trigger mutual defense obligations under . . . our Mutual Defense Treaty.” Thus, based on these pronouncements, the US will back the Philippines in the event of a Chinese armed attack against Philippine armed forces, public vessels or aircraft which are rightfully stationed or transiting in the South China Sea,

the former DFA chief said.

US “alignment” with the Unclos Award also means that America “is siding with Vietnam, Malaysia, Indonesia and Brunei over their maritime rights in the South China Sea in accordance with Unclos. Like the Philippines, these coastal States in the South China Sea primarily rely on Unclos in defending their maritime rights against China’s preposterous nine-dash line claim,” he added.

He recalled that in 2020, the Philippines, Vietnam and Malaysia were the first to issue notes verbales strongly rejecting China’s claims in the South China Sea before the United Nations, as these countries have been doing so since China formally introduced its nine-dash line claim to the world in 2009. These countries were followed by Indonesia’s note verbale on May 26, 2020 which expressly affirmed the Unclos Award and declared that “it is not bound by any claims made in contravention to international law, including Unclos 1982.”

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Tuesday, December 22, 2020

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First Gen: 3 firms advance to next stage of FSRU tender

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By VG Cabuag

@villygc

OPEZ-LED First Gen Corp. on Monday said it will accelerate the introduction of liquefied natural gas (LNG) in the country to serve the requirements of its gas-fired power plants.

In a statement, First Gen's unit FGEN LNG Corp. has selected BW Gas Limited, Dynagas Ltd. and Hoegh LNG Asia Pte Ltd. to continue to the next stage of its binding tender process for the charter of a floating storage regasification unit (FSRU) of the company's interim offshore LNG terminal. The said terminal will be built at the First Gen Clean Energy Complex in Batangas City.

The said facility will serve the natural gas requirements of existing and future gas-fired power plants of third parties and FGEN LNG affiliates.

An FSRU is a liquefied natural gas carrier capable of storing LNG and which has an onboard regasification plant capable of returning LNG into a gaseous state and then supplying it directly into the gas network.

A typical FSRU has a storage

capacity of between 125,000 cubic meters and 170,000 cubic meters.

According to the International Gas Union World LNG Report - 2020 Edition, approximately 6 percent of the global fleet of 541 LNGC vessels operate as FSRUs as of the end of 2019.

BW Gas is a wholly-owned subsidiary of the BW Group, and is involved in the global market of transportation and floating regasification services of LNG, including construction, ownership and operation of FSRUs and other LNG carriers.

It provides integrated solutions to clients across the LNG value chain, and claims to be a leader in maritime energy transportation.

Dynagas Ltd., meanwhile, is an LNG maritime transportation company, headquartered in Athens, Greece. The company manages a fleet of LNG carriers, 15 on the water plus two under construction,

on long term charters with major energy companies and two FSRU’s currently under construction.

The company was established in 2004 to manage LNG carriers and other LNG infrastructure assets, and took delivery of its first vessel in 2007.

Prior to placing an order for two high specification FSRUs in Hudong Shipyard, Dynagas has since 2007 been involved in concepts and plans for regasification projects ranging from FSRU conversions to FSRU new builds.

Hoegh LNG is a wholly-owned subsidiary of Hoegh LNG Ltd., which is itself a wholly-owned subsidiary of Hoegh LNG Holdings. Hoegh LNG Holdings, which is listed on the Oslo stock exchange, specializes in the global market of transportation and floating regasification services of LNG, including the construction, ownership and operation of FSRUs and LNGCs.

M2DC buys stake in Basic Energy M

AP 2000 Development Corp. (M2DC) is acquiring a majority stake in Basic Energy Corp., the energy company led by the De Venecia Group.

In its disclosure, a memorandum of agreement was signed between the two companies in which M2DC will buy at least 67 percent of Basic Energy, subject to several conditions.

M2DC will acquire some 9.82 billion shares of Basic Energy that it will issue out of the increase in authorized capital stock to P5 billion from the previous P2.5 billion. “[The] said capital increase was approved by the Company’s stockholders at the annual stockholders’ meeting held last October 23, 2020,” the company said in a disclosure.

The said move may trigger the

Philippine Stock Exchange's tender offer rule, which requires the buyer to purchase the rest of company.

“If any acquisition that would result in ownership of over 50 percent of the total outstanding equity securities of a public company, the acquirer shall be required to make a tender offer under this rule for all the outstanding equity securities to all remaining stockholders of the said company at a price supported by a fairness opinion provided by an independent financial advisor or equivalent third party. The acquirer in such a tender offer shall be required to accept all securities tendered,” according to the rule.

“M2DC is a Philippine registered company engaged in real estate acquisition, development,

and management, and as well as in investing in real properties and acquiring shares of stocks of viable corporations to exercise rights of a shareholder,” Basic Energy said in its disclosure.

The company declined to give other details of the deal.

The company was awarded by the Department of Energy a total of five service contracts for the exploration and development of geothermal energy in Mabini, Batangas; Mariveles, Bataan; East Mankayan, Benguet; Iriga, Camarines Sur; and West Bulusan, Sorsogon. The company was also previously awarded by the DOE four hydro-power service contracts all located in Negros Occidental, but it has withdrawn from these service contracts to focus on

its drilling operations in Mabini, Batangas. This service contract was, however, terminated by the DOE in June last year.

The company owns Basic Diversified Industrial Holdings Inc., an investment holding company; iBasic Inc., an information technology management company and service integrator; Basic Biofuels Corp., a biofuels developer; Basic Renewables, which is into the development of renewable energy; Basic Geothermal Energy Corp., which is into geothermal energy development; and Grandway Group Limited, a Hong Kong-based unit in charge of equity investments abroad. It also owns 72.58 percent of Southwest Resources Inc., an oil exploration company. VG Cabuag

MVP Group donates resources across the country Shell points to another bleak quarter for Big Oil

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NVESTORS expecting an end-of-year rebound in the oil and gas industry could be in for a disappointment, if figures published

by Royal Dutch Shell Plc are any indication.

The Anglo-Dutch energy giant gave a first taste of what could prove to be another bleak quarter for the industry. It warned of another multibillion-dollar impairment charge, significantly weaker oil trading, a loss in its upstream division and fuel sales that remain sluggish.

“The indicative guidance looks disappointing, particularly in the context of the strong run Shell has had in recent weeks,” RBC analyst Biraj Borkhataria said in a note.

Shell, along with its peers, is coming to the end of a tumultuous year. Its finances have been pummeled as the coronavirus pandemic decimated oil and gas demand. The company has been forced to slash its dividend and plan thousands of layoffs.

More pain

INITIAL fourth-quarter figures published on Monday, before full results on February 4, show the pain is not yet over for the company.

Trading results in the oil-products division will be “significantly lower compared with the third quarter,” when the unit helped Shell avoid a loss. The company sees fuel sales volumes of 4 million to 5 million barrels a day, in line with the prior quarter but down from more than 6 million a year earlier.

Shell’s B share prices were down 3.3 percent at 1,296 pence at 8:44 a.m. in London. BloombergNews

S the Covid-19 pandemic and various typhoons batter the country in 2020, many Filipinos have been left with very little, making the coming holidays difficult to celebrate. Steadfast in its commitment to heed the call of those in need, the MVP Group is embarking on a country-wide donation drive called “Tuloy Pa Rin Ang Pasko,” where 22 companies and foundations under the leadership of Manuel V. Pangilinan are uniting to pool funds for Noche Buena packs for families to enjoy.

The Noche Buena packs include meals and rice sacks which will depend on each company’s contribution. Some of the companies will also donate other essentials such as printers, pocket wifi, and toys for the children among others. Part of the donation will also include a fund to support various sectors and advocacies amid the new normal. These include teachers, farmers, public hospitals, as well as communities affected by recent typhoons and the Taal Volcano eruption of January.

“Filipino traditions are usually the strongest and warmest at this time of the year. Sadly, this pandemic has not only radically changed our work and our lives, but it has also dampened the festive mood of Christmas. With Tuloy Pa Rin Ang Pasko, our group aims to ignite even the smallest spark of hope in our countrymen and let them know that they can count on us,” said Group Chairman Manuel V Pangilinan.

The MVP Group aims to reach

CONTRIBUTED PHOTO

out to communities from Luzon, Visayas and Mindanao. These include Aeata communities in Sitio Villa Maria in Porac, Pampanga; blind masseurs in Sta. Mesa, Manila; indigent patients and hospital personnel from the East Avenue Medical Center; jeepney and tricycle drivers from General Santos City, Manila and select towns in Batangas; students and low-income households from Cagbalete Island, Quezon and Dona Remedios Trinidad in Bulacan which Meralco energized, persons with disability community, vegetable vendors from Sitio Magnolia in Quezon City; Sining Ipo Indigent Dumagats; Dumagat farmers in Marikina Watershed; and farmers in North and Central Luzon.

The Group also provided support to various sectors, including Caritas Manila; Radio Veritas; affected communities of Taal eruption and recent typhoons; Jolohanon Women’s Association, a Tausug fishing village in Jolo; Pangasinan farmers that were supported by Smart through its #BuyLocal campaign and sustain-

CDC ISO Core Team cited for efforts on ISO certification audit

ability fund; lastly, Metro Pacific Investments Foundation delivered 200 Noche Buena packages to boatmen and their families whose livelihoods have been destroyed during the onslaught of successive typhoons in Mabini, Batangas.

Other areas across the country include Mabini, Batangas; Siargao; Alaminos City; Puerto Galera; Albay; Cagayan; Camarines Sur; Camarines Norte; Isabela; Batangas; Catanduanes; Tuguegarao City; Surigao City; Aloguinsan and Boljoon, Cebu; Zamboanga City; Iligan City; and Quezon Province.

“I commend all our employees who are stepping up to give some of what they have for this endeavor.

This bayanihan spirit is what will help us rise and overcome our challenges and make us appreciate the true essence of Christmas,” Pangilinan said.

The Tuloy Pa Rin Ang Pasko initiative also introduces an anthem composed exclusively for the campaign that aims to uplift Filipinos’ spirits this season.

CLARK Development Corp. (CDC) Officer-in-Charge for Office of the President and CEO Mariza Mandocdoc (center) speaks before the member of the CDC-International Organization for Standardization (ISO) Core Team and commended them for the support and effort that they have put in completion and recertification of the state-owned firm during the 2020 ISO Second Surveillance Audit conducted by SOCOTEC Certification Philippines, Inc. CONTRIBUTED PHOTO

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LARK FREEPORT—The Clark Development Corp. (CDC) International Organization for Standardization (ISO) Core Team were cited for their efforts in ensuring the preservation of quality systems in the state-owned firm.

During a recent activity, CDC Officer-in-Charge for Office of the President and CEO Mariza Mandocdoc led the conferment of certificates of appreciation to the members of CDC–ISO Core Team.

Mandocdoc commended the group for being instrumental in assuring the completion and recertification of the state-owned firm during the 2020 ISO Second Surveillance Audit conducted by SOCOTEC Certification Philippines, Inc. SOCOTEC is an ISO certification body that audits and certifies clients’ management systems to meet their challenges, and optimize the performances of organizations.

Through the conduct of the second surveillance audit, CDC was issued recertification on the Provision of Business Development, Business

Enhancement, and Zone Management Services.

Members of the CDC ISO Core Team are Assistant Vice President for Business Enhancement Atty. Noelle Mina Meneses, Corporate Planning Division Manager Arch. Tarcisius Tiotuyco, External Affairs Department Assistant Manager Ronald Antonio, Corporate Planning Officers Bella Aslarona, Jennifer Tayag, and Mylene Paraan.

Meanwhile, the ISO Quality Management System (QMS) Auditors are Angeliza Montellana as team leader for Team A with members Wyda M. Cosme, Emalyn D. Gonzales, Lowela L. Isip, Gian Carlo P. Legaspi, and Jennylou C. Cajucom.

Team B is led by Mary Janet M. Castro with members Rosalie R. Ocampo, Mary Elizabeth J. Magat, and Andrea Gayle B. Co. For Team C, Walter San Diego served as the team leader and joined by his members Elizabeth M. Tiria, Rossana D. Manalili, Ma. Bernadette P. Bucad, Judy Ann V. Cabarle, and Rowena T. Arroyo.

London luxury homes prime location to hide dirty money

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HE United Kingdom property market is increasingly a prime target for money laundering, with London’s most expensive homes attracting criminal buyers as a way to hide dirty cash.

There’s now a high likelihood of buyers using UK real estate to disguise illegal activity, up from a medium risk three years ago, the UK government said in a December report assessing money laundering and terrorist financing this year. The findings also upgraded the risk to the estate agency sector to medium.

“It is likely that criminals favor locations with high value properties such as London, Edinburgh or university towns, with London in particular considered highly desirable for overseas entities to operate a residential or commercial base in,” the report said. The Covid-19 pandemic has only made the sector more vulnerable to dirty money, as shaky demand for extravagant homes increases the chances of getting a discount. While criminals may also exploit struggling businesses to obtain real estate sold out of desperation or bankruptcy, residential property is seen as a higher risk than commercial, aided

by the speed and ease of deals, the report found. Transactions made by corporate structures or trusts in tax havens such as the Cayman Islands make the practice difficult to track— three quarters of properties linked to corruption are owned by companies registered in such locations, according to Transparency International.

The nongovernment organization has found over 500 properties in the UK that have been bought with suspicious wealth, with a combined value of over 5 billion pounds ($6.6 billion), the report said. That’s probably only a fraction of the real value of dirty money hidden in UK real estate, it added.

The UK had a victory in an attempt to crack down on dirty money in October, when the National Crime Agency used a so-called Unexplained Wealth Order to come to a 9.8-million-pound settlement with a Leeds businessman over accusations including criminal ties to build a property portfolio. Mansoor “Manni” Mahmood Hussain handed over more than 45 properties across the country, including two apartments in the swanky Knightsbridge neighborhood of London. Bloomberg News

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Companies BusinessMirror

Tuesday, December 22, 2020

PSE STOCK QUOTATIONS

December 21, 2020

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

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

45.05 46 46 46 45 45.05 109.8 109.9 111 111.5 108.1 109.9 82 82.2 82.4 82.85 82 82 25.45 25.5 25.4 25.45 25.4 25.45 6.45 8.48 8.5 8.5 8.5 8.5 11.28 11.3 11.42 11.44 11.28 11.3 50.2 50.35 49.5 50.5 48.4 50.35 10.74 13.38 12.58 12.58 12.52 12.52 30.95 31 30.85 31.2 30.85 30.95 53.8 54.3 54.25 54.3 53.8 54.3 99 100 100 100 100 100 19.22 19.44 19.26 19.46 19.12 19.32 137.5 137.9 138 138 131 137.9 71.2 71.25 70 71.2 69.5 71.2 1 1.04 1.1 1.1 1 1.05 30 30.5 28.6 31 28.6 30.5 0.63 0.67 0.63 0.63 0.63 0.63 4.43 4.44 4.55 4.55 4.4 4.44 1.95 1.97 2 2 1.83 1.97 0.375 0.38 0.395 0.395 0.37 0.375 0.72 0.74 0.68 0.74 0.68 0.74 154.6 154.8 154.8 154.8 154.1 154.8 1.04 1.09 1.04 1.04 1.04 1.04

3,600 165,155 -9,095 4,324,610 475,667,324 -23,281,835 2,086,100 171,814,633 -33,717,059 75,500 1,919,805 -862,755 100 850 1,433,000 16,204,322 -7,923,112 4,323,200 215,133,550 1,482,130 3,000 37,620 1,036,800 32,113,525 -21,377,660 2,930 158,480.50 10 1,000 38,600 747,704 981,740 133,345,260 -51,600,831 37,410 2,643,462 147,474 80,000 82,380 59,800 1,801,560 20,000 12,600 630,000 2,797,900 57,340 2,638,000 5,006,730 9,260 840,000 318,850 3,750 208,000 146,680 4,440 686,928 -510,987 16,000 16,640 -

INDUSTRIAL AC ENERGY 7.14 7.15 6.7 7.15 6.7 7.15 52,907,800 367,708,689 14,415,056 ALSONS CONS 1.38 1.39 1.4 1.4 1.38 1.38 1,815,000 2,510,890 26.95 27 27.85 27.85 26.85 26.95 3,113,600 84,367,305 -24,740,220 ABOITIZ POWER FIRST GEN 29.05 29.1 28.2 29.15 28.2 29.1 1,096,900 31,726,895 17,445,475 FIRST PHIL HLDG 77.3 77.5 78 79 77.5 77.5 290,230 22,510,349 -19,691,742.50 282.8 283 283 285.8 282 282.8 257,050 72,774,172 -12,876,616 MERALCO MANILA WATER 15.92 16 15.96 16 15.82 16 832,700 13,275,198 1,863,850 4.07 4.12 4.03 4.14 4.01 4.12 7,422,000 30,348,210 -2,731,690 PETRON 3.47 3.56 3.55 3.56 3.55 3.56 35,000 124,400 PETROENERGY PHX PETROLEUM 12.54 12.74 12.78 12.8 12.52 12.76 17,300 218,396 21.3 21.45 21.55 21.6 21.3 21.3 602,200 12,901,960 -663,805 PILIPINAS SHELL SPC POWER 10.32 10.34 10.58 10.58 10.3 10.32 496,000 5,133,156 -512,902 VIVANT 14.02 14.96 14.96 15 14.96 15 16,100 241,242 -13,608 8.26 8.42 8.35 8.55 8.24 8.42 845,300 7,039,182 -1,772,490.00 AGRINURTURE AXELUM 3.52 3.57 3.52 3.6 3.52 3.57 2,237,000 7,940,830 -58,850 15 15.22 15.22 15.22 15 15.22 4,700 71,352 CNTRL AZUCARERA CENTURY FOOD 17.52 17.54 17.52 17.68 17.46 17.52 2,930,800 51,374,258 13,274 DEL MONTE 7.91 7.95 7.95 8 7.79 7.95 136,000 1,079,261 18,216 7.35 7.44 7.31 7.45 7.3 7.35 2,473,800 18,204,444 2,326,286 DNL INDUS EMPERADOR 9.99 10 10.04 10.04 9.84 10 870,800 8,644,074 -956,912 SMC FOODANDBEV 71.2 71.4 71.95 72.35 71.15 71.4 266,150 18,997,739 15,052,532.50 0.71 0.72 0.7 0.72 0.7 0.71 672,000 472,270 ALLIANCE SELECT FRUITAS HLDG 1.77 1.79 1.8 1.82 1.74 1.79 27,209,000 48,012,690 -10,073,450 53.3 53.4 53 53.6 53 53.4 185,650 9,910,633.50 2,399,741 GINEBRA 201.6 201.8 203.2 204 201.8 201.8 577,690 116,913,994 -39,146,306 JOLLIBEE LIBERTY FLOUR 42.55 43 45.2 45.2 42.25 43 24,800 1,079,790 21,500 8.67 8.8 8.3 8.67 8.3 8.67 37,300 311,327 MACAY HLDG MAXS GROUP 7.54 7.55 7.91 7.91 7.41 7.55 1,479,900 11,196,399 -183,763 MG HLDG 0.25 0.255 0.224 0.255 0.222 0.255 31,830,000 7,820,630 -69,420 8.11 8.14 8.3 8.3 8.03 8.11 84,700 686,170 -123,261.00 SHAKEYS PIZZA ROXAS AND CO 1.46 1.47 1.45 1.49 1.41 1.46 12,072,000 17,578,790 309,170 RFM CORP 4.59 4.7 4.78 4.78 4.51 4.59 206,000 950,250 -805,980 1.74 1.75 1.77 1.77 1.69 1.75 207,000 353,740 20,280 ROXAS HLDG SWIFT FOODS 0.125 0.129 0.129 0.131 0.12 0.125 7,830,000 975,620 -61,920 155.5 157.1 160 160 155.3 155.5 1,193,280 187,178,391 54,685,762 UNIV ROBINA 1 1.01 1.01 1.01 0.99 1 6,893,000 6,894,670 280,600 VITARICH VICTORIAS 2.5 2.55 2.55 2.57 2.55 2.55 90,000 230,500 52.5 56.25 53 53 52.25 52.25 3,640 191,665 CONCRETE A CONCRETE B 54.75 57 57 57.95 56.95 57 290 16,546 CEMEX HLDG 1.64 1.65 1.67 1.68 1.64 1.64 9,158,000 15,096,000 -411,220 5.6 5.68 5.05 5.71 5.05 5.6 509,800 2,818,660 -39,620 DAVINCI CAPITAL EAGLE CEMENT 14.78 15 15 15 14.74 15 127,400 1,909,072 -1,500 7.8 7.85 8.01 8.01 7.85 7.85 123,300 975,217 26,103 EEI CORP 7.4 7.45 7.45 7.51 7.21 7.4 4,299,000 31,534,056 9,895,338 HOLCIM MEGAWIDE 8.49 8.5 8.6 8.6 8.45 8.5 3,849,400 32,681,088 -3,901,845 9.12 9.85 9.74 9.8 9.05 9.8 223,100 2,147,246 PHINMA TKC METALS 1 1.02 1 1.04 0.96 1.02 546,000 538,080 VULCAN INDL 1.3 1.31 1.33 1.33 1.3 1.31 2,102,000 2,755,530 -99,380 125.5 149.9 122.9 125.2 122.9 125.2 30 3,732 CHEMPHIL CROWN ASIA 1.92 1.94 1.91 1.99 1.87 1.94 117,000 221,430 2.55 2.56 2.61 2.62 2.55 2.56 838,000 2,157,370 -12,800 EUROMED 4.55 4.87 4.59 4.59 4.53 4.55 36,000 163,880 LMG CORP MABUHAY VINYL 4.65 4.69 4.6 4.69 4.6 4.69 7,000 32,380 -9,380 5.28 5.45 5.6 5.6 5.26 5.45 75,700 399,701 PRYCE CORP CONCEPCION 23 23.35 22.95 23.4 22.95 23.3 7,700 179,150 GREENERGY 2.57 2.58 2.57 2.6 2.57 2.58 8,771,000 22,672,040 1,786,430 8.4 8.42 8.45 8.49 8.02 8.42 1,065,000 8,913,484 514,578 INTEGRATED MICR IONICS 1.35 1.36 1.37 1.38 1.3 1.35 7,274,000 9,695,290 92,630 PANASONIC 5.21 5.41 5.21 5.43 5.21 5.43 5,100 26,593 1.67 1.68 1.71 1.75 1.67 1.68 4,771,000 8,098,920 48,500 SFA SEMICON CIRTEK HLDG 7.19 7.2 7.49 7.65 7.2 7.2 11,547,000 83,818,046 1,537,571

HOLDING & FRIMS ABACORE CAPITAL 0.72 0.73 0.72 0.74 0.7 0.73 40,859,000 29,323,830 532,500 ASIABEST GROUP 9.1 9.25 9 9.26 8.85 9.25 47,900 438,429 833.5 835 840 840 826 835 122,110 101,609,425 -2,530,170 AYALA CORP ABOITIZ EQUITY 46.1 46.5 47 47.05 45.9 46.1 2,071,500 95,828,260 23,427,540 ALLIANCE GLOBAL 10.88 10.9 11.02 11.02 10.7 10.88 4,080,600 44,337,998 7,100,056 3.52 3.53 3.7 3.74 3.5 3.53 7,965,000 28,504,050 435,960 AYALA LAND LOG ANSCOR 6.55 6.78 6.56 6.56 6.56 6.56 7,000 45,920 0.82 0.83 0.85 0.86 0.81 0.83 652,000 536,630 ANGLO PHIL HLDG ATN HLDG A 0.94 0.95 0.95 0.96 0.93 0.95 3,451,000 3,248,230 ATN HLDG B 0.96 0.97 0.97 0.97 0.94 0.97 164,000 154,330 5.77 5.78 5.65 5.78 5.65 5.78 2,875,500 16,472,675 -919,920 COSCO CAPITAL DMCI HLDG 5.8 5.84 6 6 5.79 5.8 15,423,600 90,523,956 -804,519 FILINVEST DEV 9.85 10 10.1 10.1 10 10 4,500 45,100 -20,000 3.41 3.64 3.38 3.41 3.38 3.41 19,000 64,400 FJ PRINCE A FORUM PACIFIC 0.212 0.232 0.215 0.215 0.214 0.214 20,000 4,290 609.5 610 632 632.5 606 609.5 594,610 363,951,360 -143,764,730 GT CAPITAL 4.25 4.3 4.2 4.36 4.2 4.36 25,000 108,200 HOUSE OF INV JG SUMMIT 73.05 73.1 72.9 73.4 71.3 73.1 958,880 70,039,760.50 30,341,752.50 4.94 5.15 4.93 5 4.93 4.93 2,100 10,423 JOLLIVILLE HLDG KEPPEL HLDG A 4.93 5.2 5.2 5.2 5.2 5.2 2,200 11,440 LODESTAR 0.9 0.91 0.92 0.93 0.9 0.9 2,056,000 1,872,910 3.72 3.73 3.74 3.74 3.72 3.73 1,065,000 3,971,110 -7,160 LOPEZ HLDG LT GROUP 13.4 13.5 13.9 13.9 13.34 13.4 4,052,700 54,482,044 7,318,848 0.53 0.54 0.54 0.57 0.52 0.54 794,000 423,220 MABUHAY HLDG MJC INVESTMENTS 1.81 1.9 1.9 1.9 1.9 1.9 7,000 13,300 METRO PAC INV 4.33 4.34 4.36 4.38 4.27 4.34 30,455,000 131,711,330 -35,307,150.00 3.74 3.8 3.99 3.99 3.7 3.8 308,000 1,165,320 40,700 PACIFICA HLDG 0.94 0.95 1 1 0.92 0.94 622,000 590,570 PRIME MEDIA REPUBLIC GLASS 2.98 3.03 3.01 3.01 3.01 3.01 8,000 24,080 1.14 1.2 1.2 1.2 1.13 1.2 948,000 1,103,090 443,910 SOLID GROUP SYNERGY GRID 241 246 250 250 241 241 800 197,710 SM INVESTMENTS 1,065 1,070 1,061 1,081 1,042 1,065 137,535 146,761,270 27,037,015 133.5 133.6 139 139.8 133.2 133.5 406,820 54,744,283 -2,478,958 SAN MIGUEL CORP SOC RESOURCES 0.79 0.84 0.85 0.85 0.8 0.84 227,000 181,890 1.86 2.12 2.1 2.1 2.06 2.06 10,000 20,920 SEAFRONT RES TOP FRONTIER 144.9 145 145 145.7 144.6 145 138,510 20,085,754 -714,997 WELLEX INDUS 0.23 0.236 0.24 0.24 0.225 0.236 620,000 143,120 0.19 0.191 0.197 0.197 0.18 0.19 5,490,000 1,016,490 ZEUS HLDG

PROPERTY ARTHALAND CORP 0.7 0.71 0.73 0.73 0.69 0.7 2,071,000 1,453,970 8,280 AYALA LAND 41.5 41.75 41.1 41.75 40.9 41.75 6,142,900 254,606,595 -24,564,540 1.29 1.3 1.34 1.34 1.25 1.28 71,000 90,310 ARANETA PROP AREIT RT 29.5 29.55 29.75 29.75 29.5 29.55 1,088,900 32,188,470 -19,090,835 BELLE CORP 1.73 1.76 1.77 1.77 1.73 1.73 1,628,000 2,858,580 -17,460 0.97 0.98 0.99 0.99 0.95 0.98 12,321,000 11,913,400 64,320 A BROWN CITYLAND DEVT 0.82 0.84 0.81 0.84 0.81 0.84 198,000 162,690 0.165 0.166 0.169 0.172 0.165 0.166 7,710,000 1,287,590 191,550 CROWN EQUITIES 5.85 6 6 6 6 6 500 3,000 CEBU HLDG CEB LANDMASTERS 4.96 5 4.95 5 4.94 4.96 455,000 2,260,730 -981,970 0.46 0.475 0.48 0.48 0.46 0.475 30,530,000 14,372,650 -80,600 CENTURY PROP CYBER BAY 0.38 0.385 0.38 0.385 0.365 0.38 7,290,000 2,752,650 -3,750 DOUBLEDRAGON 16.52 16.6 16.4 16.8 16.38 16.52 4,700,900 77,857,112 -22,477,032.00 7.86 8 8.2 8.2 7.68 7.86 525,000 4,170,796 -16,780 DM WENCESLAO EMPIRE EAST 0.335 0.34 0.35 0.35 0.34 0.34 2,660,000 908,350 20,400 0.093 0.094 0.101 0.101 0.093 0.093 5,090,000 478,280 47,000 EVER GOTESCO 1.17 1.18 1.19 1.19 1.16 1.18 16,659,000 19,588,320 3,902,110 FILINVEST LAND GLOBAL ESTATE 0.97 0.99 0.97 0.99 0.95 0.99 2,467,000 2,377,990 8.4 8.48 8.36 8.7 8.28 8.48 111,300 948,462 -399,184 8990 HLDG PHIL INFRADEV 1.56 1.57 1.59 1.59 1.55 1.57 3,500,000 5,464,960 288,040 KEPPEL PROP 3.46 3.62 3.72 3.75 3.36 3.46 51,000 177,030 0.75 0.77 0.8 0.8 0.75 0.75 100,000 77,430 45,800 CITY AND LAND MEGAWORLD 3.99 4 4.02 4.05 3.95 4 20,521,000 81,899,160 -24,134,530 0.64 0.65 0.6 0.67 0.58 0.64 309,257,000 195,556,020 5,122,810 MRC ALLIED 0.42 0.425 0.39 0.42 0.38 0.42 440,000 175,250 -63,000 PHIL ESTATES PRIMEX CORP 1.58 1.59 1.65 1.65 1.57 1.59 373,000 595,690 -47,700 20.95 21 20.85 21.3 19.54 21 7,163,300 149,364,699 10,173,850 ROBINSONS LAND 0.32 0.33 0.325 0.33 0.32 0.33 490,000 158,800 PHIL REALTY ROCKWELL 1.61 1.62 1.64 1.64 1.6 1.62 748,000 1,209,110 599.9999 2.69 2.73 2.68 2.73 2.68 2.69 30,000 81,240 SHANG PROP STA LUCIA LAND 2.02 2.08 2.14 2.14 2.02 2.02 425,000 869,210 20,400 SM PRIME HLDG 37.95 38.1 37.8 38.35 37.55 38.1 8,128,700 309,070,545 -16,870,960.00 4.68 4.69 4.68 4.7 4.68 4.68 64,000 300,410 VISTAMALLS SUNTRUST HOME 1.78 1.79 1.84 1.84 1.76 1.79 2,472,000 4,383,250 -41,990 4.89 4.9 4.82 4.92 4.71 4.9 9,910,000 48,180,720 4,499,570 VISTA LAND

SERVICES ABS CBN 12.18 12.2 12.2 12.2 12.12 12.18 292,600 3,554,282 GMA NETWORK 6.04 6.05 6.03 6.07 6.03 6.05 682,500 4,121,989 0.46 0.48 0.455 0.48 0.45 0.48 2,480,000 1,162,450 MANILA BULLETIN MLA BRDCASTING 12.1 12.3 12.1 12.2 12.1 12.2 2,200 26,630 GLOBE TELECOM 2,052 2,060 2,092 2,092 2,040 2,060 24,225 50,035,010 9,350,400 1,352 1,354 1,371 1,371 1,345 1,352 89,295 121,314,145 26,545,055 PLDT APOLLO GLOBAL 0.097 0.098 0.091 0.102 0.091 0.097 1,534,580,000 149,774,390 -198,690 15.6 15.7 15.8 15.84 15.54 15.7 8,866,800 139,509,154 -68,352,140 CONVERGE 5.52 5.53 5.7 5.8 5.52 5.52 184,200 1,022,901 39,595 DFNN INC DITO CME HLDG 8.35 8.36 8 8.43 7.96 8.35 79,158,200 653,480,378 34,115,358 1.71 1.82 2 2 1.71 1.82 38,000 70,590 -220 IMPERIAL ISLAND INFO 0.133 0.135 0.131 0.133 0.126 0.133 8,070,000 1,036,410 -511,870 JACKSTONES 2.13 2.31 2.23 2.35 2.11 2.32 147,000 329,960 5.11 5.12 5.09 5.21 4.85 5.11 21,147,000 106,956,515 1,718,450 NOW CORP TRANSPACIFIC BR 0.38 0.385 0.385 0.41 0.375 0.38 209,170,000 81,497,900 -1,340,200 3.09 3.1 3.18 3.21 3.06 3.1 2,858,000 8,914,270 190,060 PHILWEB 8.85 8.95 9.07 9.07 8.8 8.85 137,800 1,224,028 -253,079 2GO GROUP ASIAN TERMINALS 15.42 15.5 15.5 15.5 15.5 15.5 800 12,400 5.37 5.38 5.42 5.47 5.3 5.37 4,380,100 23,594,753 -242,612 CHELSEA CEBU AIR 54.8 54.9 57.8 58.1 53.25 54.8 1,170,690 64,661,923 7,526,705 INTL CONTAINER 124 124.2 124.3 124.5 122 124 945,500 117,221,284 25,681,474 15.6 16.2 16.24 16.24 15.6 15.6 6,000 93,920 15,600 LBC EXPRESS LORENZO SHIPPNG 0.99 1.02 0.97 1.02 0.97 0.98 64,000 62,730 7.32 7.33 7.5 7.5 7.27 7.32 8,852,000 64,860,937 -433,570 MACROASIA 2.07 2.08 2.13 2.13 2.02 2.08 1,183,000 2,444,020 METROALLIANCE A PAL HLDG 7.18 7.2 7.34 7.35 7.17 7.2 98,400 713,110 -7,100 1.65 1.66 1.72 1.76 1.65 1.65 3,823,000 6,417,960 9,740 HARBOR STAR 1.43 1.5 1.5 1.53 1.5 1.5 62,000 93,030 -19,500 ACESITE HOTEL BOULEVARD HLDG 0.043 0.044 0.045 0.045 0.043 0.044 146,300,000 6,343,400 21,500 2.24 2.29 2.3 2.3 2.11 2.24 121,000 276,910 DISCOVERY WORLD GRAND PLAZA 10.52 11.66 11.2 11.2 11.2 11.2 200 2,240 WATERFRONT 0.63 0.64 0.66 0.66 0.63 0.64 22,505,000 14,400,010 449,080 9.25 9.49 9.5 9.5 9.5 9.5 100 950 IPEOPLE STI HLDG 0.475 0.48 0.475 0.48 0.47 0.48 4,910,000 2,330,400 -28,550 5.3 5.39 5.33 5.45 5.32 5.32 1,195,800 6,482,472 BERJAYA BLOOMBERRY 8.57 8.59 8.6 8.64 8.51 8.57 1,518,700 13,014,340 3,211,389 PACIFIC ONLINE 2.33 2.35 2.25 2.33 2.2 2.33 290,000 660,230 2.04 2.06 2.09 2.09 2.01 2.04 1,177,000 2,413,430 -9,890 LEISURE AND RES MANILA JOCKEY 2.39 2.44 2.41 2.45 2.41 2.45 3,000 7,310 PH RESORTS GRP 3.09 3.1 3.03 3.13 3.03 3.09 7,712,000 23,736,780 -1,332,180 529,200 PREMIUM LEISURE 0.485 0.49 0.485 0.49 0.485 0.49 11,860,000 5,791,950 PHIL RACING 6.92 7 7 7 7 7 3,000 21,000 8.76 8.82 8.76 8.87 8.74 8.76 4,229,100 37,073,474 15,396,722 ALLHOME 1.68 1.69 1.71 1.71 1.65 1.69 2,562,000 4,272,640 10,020 METRO RETAIL PUREGOLD 40.4 40.5 41 41.2 40.3 40.5 4,369,200 177,062,700 -89,319,580 66.25 66.5 66.3 67.85 66.25 66.25 1,068,990 71,089,853 33,782,886.50 ROBINSONS RTL PHIL SEVEN CORP 120 123 123.3 124.9 123 123 14,680 1,807,651 543,053 SSI GROUP 1.64 1.65 1.68 1.69 1.63 1.64 7,514,000 12,375,640 40,490 17.54 17.98 17.02 17.98 17 17.98 1,325,600 23,409,618 2,679,618 WILCON DEPOT APC GROUP 0.47 0.475 0.48 0.49 0.47 0.475 1,170,000 555,800 8.5 8.59 8.5 8.8 8.5 8.5 125,200 1,072,132 EASYCALL GOLDEN BRIA 441 455 440.2 455 440.2 455 180 80,740 IPM HLDG 5.51 5.79 5.9 5.9 5.3 5.51 18,400 102,131 1.03 1.04 1.01 1.06 0.97 1.03 94,744,000 96,497,990 -1,928,070 PRMIERE HORIZON 6.3 6.5 6.55 6.55 6.25 6.5 69,700 444,281 SBS PHIL CORP

MINING & OIL ATOK 8.5 8.64 8.49 8.74 8.23 8.64 299,900 2,537,316 16,800 1.79 1.8 1.85 1.85 1.77 1.79 9,150,000 16,410,910 -663,060 APEX MINING ABRA MINING 0.0028 0.0029 0.0027 0.003 0.0026 0.0029 29,494,000,000 83,132,400 948,700 ATLAS MINING 6.83 6.85 6.89 6.97 6.76 6.83 987,400 6,777,928 -2,007,666 3.05 3.13 3.13 3.13 3.05 3.13 48,000 148,070 BENGUET A BENGUET B 3 3.13 3.05 3.09 3.05 3.09 19,000 58,470 0.3 0.305 0.31 0.31 0.29 0.3 6,940,000 2,038,450 COAL ASIA HLDG CENTURY PEAK 2.49 2.5 2.48 2.5 2.47 2.5 500,000 1,242,320 536,460 DIZON MINES 8.01 8.28 8.1 8.29 7.83 8.01 54,400 431,873 2.59 2.6 2.65 2.66 2.54 2.59 7,615,000 19,706,770 4,153,970 FERRONICKEL GEOGRACE 0.285 0.29 0.295 0.3 0.285 0.295 460,000 131,850 LEPANTO A 0.17 0.171 0.174 0.175 0.165 0.17 64,480,000 10,922,750 0.17 0.174 0.171 0.175 0.17 0.17 1,860,000 321,820 54,050 LEPANTO B MANILA MINING A 0.01 0.011 0.01 0.011 0.01 0.011 141,900,000 1,514,300 0.011 0.012 0.012 0.012 0.011 0.011 17,600,000 207,700 118,800 MANILA MINING B 1.46 1.47 1.47 1.48 1.41 1.46 2,345,000 3,404,740 238,610 MARCVENTURES NIHAO 3.02 3.08 3.1 3.15 3.02 3.08 728,000 2,215,660 6,120 5.21 5.22 5.21 5.29 5.2 5.21 3,757,500 19,640,950 1,540,128 NICKEL ASIA OMICO CORP 0.395 0.4 0.4 0.41 0.395 0.395 630,000 252,100 ORNTL PENINSULA 0.77 0.79 0.81 0.81 0.77 0.79 1,025,000 799,930 53,900 5.37 5.39 5.13 5.4 5 5.39 5,654,100 29,637,432 -1,597,404 PX MINING SEMIRARA MINING 14.44 14.46 15 15.08 14.2 14.44 5,011,400 72,558,820 27,082,586 0.0065 0.0069 0.0066 0.0066 0.0064 0.0065 74,000,000 483,600 UNITED PARAGON ACE ENEXOR 11.96 12.02 12.32 12.4 11.86 12 355,000 4,303,394 -12,320 ORNTL PETROL A 0.013 0.014 0.013 0.014 0.012 0.013 389,700,000 5,075,200 0.013 0.014 0.014 0.014 0.012 0.013 54,200,000 703,400 ORNTL PETROL B PHILODRILL 0.011 0.012 0.012 0.012 0.011 0.011 54,900,000 605,400 PXP ENERGY 11.88 11.9 12.48 12.48 11.88 11.88 3,731,900 44,698,264 1,744,014

PREFFERED HOUSE PREF A 100.1 100.5 100.1 100.5 100.1 100.1 260 26,066 AC PREF B1 515 516 515 515 515 515 1,020 525,300 101.6 103 101.6 101.6 101.6 101.6 190 19,304 CPG PREF A FGEN PREF G 110 111 112 112 110 111 890 98,820 -8,960 GLO PREF P 506.5 509 506 508 506 508 270 136,800 -136,800 1,018 1,050 1,030 1,030 1,030 1,030 1,000 1,030,000 GTCAP PREF A GTCAP PREF B 1,035 1,038 1,035 1,035 1,035 1,035 480 496,800 100.4 101.5 101 101 100.4 100.4 190 19,124 MWIDE PREF MWIDE PREF 2A 100 100.9 100.9 100.9 100.9 100.9 10 1,009 PNX PREF 3B 102.5 103.6 102.5 103.6 102.5 102.5 950 97,430 1,000 1,006 1,000 1,009 1,000 1,005 3,820 3,820,475 PNX PREF 4 PCOR PREF 2B 1,006 1,029 1,029 1,029 1,006 1,006 10 10,175 PCOR PREF 3A 1,065 1,071 1,060 1,065 1,060 1,065 325 346,100 1,080 1,110 1,110 1,110 1,110 1,110 10 11,100 PCOR PREF 3B SMC PREF 2C 78 78.55 78.5 78.6 78 78 9,160 716,150 76.25 77 77 77 77 77 1,173,530 90,361,810 SMC PREF 2E SMC PREF 2G 75.25 76 75.15 76 75.15 76 30 2,271.50 1,520 SMC PREF 2H 75.6 77.95 75.7 75.7 75.5 75.5 4,920 371,517.50 76 76.1 75.5 76.1 75.3 76 81,080 6,115,838 SMC PREF 2J SMC PREF 2K 75.1 75.6 75 75.65 75 75.6 28,520 2,154,970.50 -158,004

PHIL. DEPOSITARY RECEIPTS GMA HLDG PDR 5.78 5.87 5.74 5.87 5.73 5.87 84,200 487,670 117,740

WARRANTS LR WARRANT 1.15 1.16 1.1 1.18 1.05 1.15 764,000 849,380 -42,400

SMALL & MEDIUM ENTERPRISES ALTUS PROP 13.36 13.38 13.64 13.66 13.16 13.36 481,500 6,424,182 ITALPINAS 3.2 3.21 3.14 3.25 3.11 3.2 3,147,000 9,928,600 -1,053,020 7.21 7.26 7.26 7.49 6.95 7.26 117,900 831,850 -13,900 KEPWEALTH MERRYMART 6.2 6.21 5.91 6.23 5.91 6.2 58,785,100 358,781,349 7,099,410

EXHANGE TRADE FUNDS

FIRST METRO ETF 109 109.5 109.8 109.8 108.5 109 37,730 4,112,190 87,384

www.businessmirror.com.ph

Ang: Toll fees waived by SMC for health workers hit ₧138M

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By Lorenz S. Marasigan

@lorenzmarasigan

IVERSIFIED conglomerate San Miguel Corp. (SMC) said on Monday that waived toll fees for frontline workers have reached over P138 million as of Sunday, nine months since the company implemented the policy to help combat Covid-19.

Ramon S. Ang, the company’s president, said the program will remain in place, as part of the company’s efforts to help curb the spread

of the deadly virus.

“It has been nine months since we started this program. And while our situation these days may be a

little different since we have less restrictions, make no mistake: We are still in a pandemic, and our medical practitioners have not stopped fighting. They are still battling Covid-19 and sacrificing so much to save lives.

That is why we have also not stopped showing our appreciation for them” Ang said.

The free toll will be extended indefinitely.

“This year has been quite difficult for our country, and for all of us Filipinos. Through it all, our frontliners have worked tirelessly and selflessly to save lives and help contain this virus. This Christmas season especially, let us be reminded that they are a gift and a blessing to all of us,” Ang added.

Company data showed that “a total of 10,402 medical frontline workers, including doctors, nurses, and laboratory technicians, among others, continue to enjoy the special privilege.” They were given special toll-free RFID tags that allow them free pass on all expressways operated

by SMC, namely: the Skyway System, the South Luzon Expressway (Slex), the Naia Expressway (Naiax), the Star Tollways, and the Tarlac-Pangasinan-La Union Expressway (Tplex).

“We are glad that every day for the past nine months, when our medical front liners go through our toll plazas, whether at Star, Slex, Skyway, Naiax, or Tplex, they can be reminded of our gratitude for their efforts and sacrifices,” Ang said.

Sweden gaming stocks crowned lockdown winners

A

CLUSTER of Swedish gaming developers have taken the stock market by storm this year, and the rally may have further to run.

Stillfront Group AB and Embracer Group AB have advanced more than 170 percent in 2020, making them the two best stocks of the global Solactive Video Games Index, which is up 39 percent this year. Another standout, G5 Entertainment AB, has more than quadrupled in value, the second-best gain among the OMX Stockholm Index’s 365 members.

Helped by a wave of lockdowns that spurred a global gaming industry boom, these developers may now enjoy some lasting benefits from a larger market, according to Bloomberg Intelligence analyst Matthew Kanterman.

Fueling that growth are so-called Covid players that are likely to stay on-board, Jefferies analysts said earlier this month. That’s a view shared by Stillfront, which expects users picked up after the virus outbreak to “play our games over a long period of time.”

Carl Armfelt, a portfolio manager at TIN Fonder in Stockholm, points to how adept the games companies have been at releasing strong titles and developing their operations this year.

“Both Embracer and Stillfront still look cheap,” said Armfelt, who sees more gains coming from the release of new games consoles by Sony Corp. and Microsoft Corp.

“Fundamentals for PC and console with the transition to next generation for PS5 and Xbox Series X make the sector look attractive,“ Armfelt said.

Hunted turn hunter

THIS year’s growth is also part of a longer-term trend for Swedish game developers, which have seen their sales more than double to 24.3 billion kronor ($2.9 billion) between 2014 and 2019, according to the trade group the Swedish Games Industry.

“There’s a notable indie scene in Sweden, with quite a lot of studios and relatively good access to venture capital,” said Tomas Otterbeck, an analyst at Redeye AB in Stockholm.

The ability to access capital has enabled Swedish developers to go on a buying spree. Stillfront recently announced acquisitions of Sandbox and Super Free Games totaling about 2.6 billion kronor, and last month Embracer announced no fewer than 13 acquisition agreements. Nor does the pace of acquisitions look to be slowing: Embracer said on on December 17 it had signed a new M&A credit line of 3 billion kronor.

Per Stromback, spokesman for the Swedish Games Industry, says that publicly traded games companies in Stockholm are using “their shares to acquire other businesses, in addition to the underlying organic growth of the industry.”

That’s in contrast to past years, when the country’s biggest successes were snapped up by giants in the United States. Microsoft Corp., which bought Stockholm-based Mojang AB in 2014, said in May that Minecraft has sold more than 200 million copies. Candy Crush Saga, which became a part of Activision Blizzard Inc. in 2016, ranks among the most popular games on Apple Inc.’s iOS platform, according to analytics firm App Annie.

Still, with growth rates for the industry set to return back to nor-

Maersk warns of Africa piracy risk after attack

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CONTAINER ship owned by A.P. Moller-Maersk A/S was attacked off the West African coast, prompting the company to warn of a rising risk from piracy in the area.

The Maersk Cadiz was boarded by “criminals” on Saturday at about 2:30 p.m. Nigeria time while traveling from Tema in Ghana to Kribi in Cameroon, Maersk said in a statement. Nigerian naval ships have arrived to help the vessel, which can transport the equivalent of as many as 4,500 twenty-foot containers.

All 21 crew have been confirmed as safe, and the vessel has been secured, a spokeswoman for Copenhagen-based Maersk said. The ship was carrying cargo when attacked.

The boarding of the Maersk Cadiz follows an attack on another Maersk container ship near the West African nation of Guinea in February. That vessel, known at the time as the Maersk Tema, was

owned and operated by two German companies.

The West African coast overtook Southeast Asia last year as the worst area for reported piracy and kidnappings at sea, with the number of seafarers seized rising by more than 50 percent, according to a study. Despite a global decline in piracy in 2019, attacks have continued in the Gulf of Guinea this year, especially off Nigeria’s coast.

“We are very concerned about the increased security risk from armed attacks on merchant vessels in the area,” Maersk Chief Technical Officer Palle Laursen said in a statement. “The risk has reached a level where local governments and the international community must take action to deal effectively with an unacceptable situation.”

The Maersk Cadiz was built in 2013 and sails under the Singaporean flag. Bloomberg News

malized levels later in 2021 and valuations near all-time peaks, “there’s little room for error in terms of execu-

MUTUAL FUNDS

tion to meet elevated expectations,” Bloomberg Intelligence’s Kanterman said. Bloomberg News

December 21, 2020

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

PER SHARE RETURN* RETURN STOCK FUNDS ALFM GROWTH FUND, INC. -A 230.75 -6.74% -7.02% -1.12% -8.37% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.3354 -2.58% -5.55% 2.91% -3.37% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 3.1954 -11.92% -10.73% -2.48% -13.13% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.8206 - 6.55% -6.74% N.A. -8.62% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.7673 -8.06% N.A. N.A. -9.66% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 5.0357 -3.46% -5.13% -0.78% -5.49% FIRST METRO SAVE AND LEARN PHILIPPINE INDEX FUND, INC. -A,4 0.7761 -7.3% -7.42% N.A. -9.08% MBG EQUITY INVESTMENT FUND, INC. -A 102.35 -0.29% N.A. N.A. -0.85% PAMI EQUITY INDEX FUND, INC. -A 47.733 -5.05% -4.73% 0.67% -6.92% PHILAM STRATEGIC GROWTH FUND, INC. -A 496.19 -5.16% -4.92% -0.18% -6.87% PHILEQUITY ALPHA ONE FUND, INC. -A,D,5 1.1044 10.47% N.A. N.A. 7.21% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.1876 -5.94% -4.76% 0.41% -7.72% PHILEQUITY FUND, INC. -A 35.2917 -5.15% -4.29% 1.07% -6.87% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A 0.9293 -6.98% N.A. N.A. -8.72% PHILEQUITY PSE INDEX FUND INC. -A 4.8831 -4.59% -4.14% 1.39% -6.52% PHILIPPINE STOCK INDEX FUND CORP. -A 816.71 -4.39% -4.03% 1.29% -6.34% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.7336 -12.72% -8.24% -2.86% -13.84% -0.51% -12.27% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 3.6925 -10.46% -6.24% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 0.9351 -4.64% -4.35% 1.17% -6.56% UNITED FUND, INC. -A 3.3693 -6.26% -3.94% 1.58% -7.77% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C 109.5756 -4.33% -3.79% 2.05% -6.31% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ATRAM ASIAPLUS EQUITY FUND, INC. -B $1.1999 17.26% 3.67% 6.3% 16.68% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.6709 22.82% 9.84% N.A. 21.19% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.6837 8.5% -2.82% -0.45% 7.74% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.3127 7.07% -1.56% 1.73% 6.03% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.6575 2.38% -0.95% -0.1% 0.99% FIRST METRO SAVE AND LEARN F.O.C.C.U.S. DYNAMIC FUND, INC. -A,1 0.2009 -11.58% N.A. N.A. -12.08% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.982 1.93% 0.38% 2.18% 1.04% PAMI HORIZON FUND, INC. -A 3.819 2% -0.39% 1.54% 0.79% PHILAM FUND, INC. -A 17.072 1.78% -0.51% 1.46% 0.66% SOLIDARITAS FUND, INC. -A 2.1126 0.31% -1.59% 1.2% -0.45% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.613 -5.14% -2.83% 0.23% -6.48% SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D 1.0292 2.72% N.A. N.A. 1.33% SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D 0.9644 -1.4% N.A. N.A. -3.21% SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D 0.949 -2.65% N.A. N.A. -4.45% SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.9019 -5.85% -3.41% -0.44% -7.48% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES 2.04% 2.64% 2.01% 2.3% COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03908 PAMI ASIA BALANCED FUND, INC. -B

$1.1517 11.47% 3.29% 5.53% 13.8% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $4.5083 16.33% 7.36% 7.74% 15.28% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A,3 $1.2021 7.11% 3.54% N.A. 6.5% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 370.85 3.75% 3.24% 2.79% 3.61% ATRAM CORPORATE BOND FUND, INC. -A 1.8995 -0.06% 0.1% 0% -0.13% COCOLIFE FIXED INCOME FUND, INC. -A

3.212 3.23% 4.49% 4.82% 3.02% EKKLESIA MUTUAL FUND INC. -A 2.2949 3.36% 2.94% 2.41% 3.22% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.4506 4.04% 3.43% 2.15% 3.88% PHILAM BOND FUND, INC. -A 4.6289 6.1% 4.56% 3.11% 5.85% PHILAM MANAGED INCOME FUND, INC. -A,6 1.3195 5.14% 4.47% 2.63% 5% PHILEQUITY PESO BOND FUND, INC. -A 3.9901 6.03% 4.57% 2.8% 5.33% SOLDIVO BOND FUND, INC. -A 1.0391 8.07% 4.05% 2.54% 7.76% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 3.1962 4.31% 4.78% 3.46% 3.92% SUN LIFE PROSPERITY GS FUND, INC. -A 1.7486 3.15% 4.11% 2.86% 2.79% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. -A $483.44 3.31% 2.76% 2.96% 3.22% ALFM EURO BOND FUND, INC. -A Є219.13 -0.3% 0.8% 1.22% -0.3% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.2747 5.67% 3.96% 3.12% 5.59% 2.71% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0265 2.71% 1.96% 1.75% PAMI GLOBAL BOND FUND, INC -B $1.0919 -0.15% 0.68% 0.83% -0.16% PHILAM DOLLAR BOND FUND, INC. -A $2.5295 5.4% 4% 3.7% 5.24% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.0623417 3.36% 2.79% 2.38% 3.39% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $3.2115 1.22% 2.2% 2.53% 1.14% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC. -A 129.74 3.23% 3.34% 2.6% 3.11% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A 1.0476 1.56% N.A. N.A. 2.08% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.2958 2.56% 2.98% 2.61% 2.43% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.0521 1.49% 1.74% N.A. 1.33% FEEDER FUNDS PRIMARILY INVESTED IN PESO SECURITIES SUN LIFE PROSPERITY WORLD EQUITY INDEX FEEDER FUND, INC. -A,D,7 1.1257 N.A. N.A. N.A. N.A. PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM GLOBAL MULTI-ASSET INCOME FUND INC. -B,D,2 $0.98 -1.01% N.A. N.A. -1.01%

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."

Editor: Angel R. Calso

World Companies BusinessMirror

Honda to shut India factory, reduce four-wheeler output

Tesla joins S&P 500 Index; skeptics say buyer beware

D Bloomberg

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onda Motor Co. w ill close one of its plants in India and cut production of four-wheel vehicles in the country by 40% as the coronavirus pandemic continues to hurt sales, the Nikkei newspaper reported.

The Japanese automaker is closing its factory in Noida to the east of Delhi and moving all India production to its newer Tapukara plant to the southwest of the capital, according to the Nikkei. The Noida

facility opened in 1997 and has annual capacity of 100,000 vehicles, including the subcompact City, Civic sedan and CR-V crossover.

A Honda spokesperson declined to comment on the Nikkei report.

Honda has scaled back operations elsewhere too, with plans to close facilities in Sayama in Japan and Swindon in the UK, and ending production of four-wheel cars in the Philippines and Argentina.

Bloomberg News

China’s top chipmaker tumbles after joining Huawei on blacklist

SMIC’s inclusion in a US blacklist threatens to cripple China’s longer-term ambitions by depriving it of crucial gear.Bloomberg

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emiconductor Manufacturing International Corp., China’s largest chipmaker, saw its shares fall as much as 4.8 percent in Hong Kong on Monday after warning that its inclusion in a US blacklist will have “major adverse impact” on the development of advanced technology.

Research and development of 10-nanometer chips and more sophisticated technologies will be affected, though the blacklist won’t have significant impact on SMIC’s operations and finances in the short term, the company said in a statement to the Shanghai Stock Exchange.

SMIC will keep communicating with the US government to seek a solution and minimize the impact on the company, according to the exchange filing.

The US Commerce Department on Friday blacklisted more than 60 Chinese companies including SMIC, citing national security and human rights violations as reasons.

China’s Ministry of Commerce later threatened to impose countermeasures against the US sanctions.

“Though the incremental impact is unclear, the uncertainty likely will prompt customers to look for other suppliers more actively,” Bernstein analysts wrote in a note following the news.

Incumbent President Donald Trump had been widely expected to level more sanctions against China’s national champions before Joe Biden formally takes over the office in January. SMIC has lost more than 6 percent of its value since joining the likes of Huawei Technologies Co. on a list that denies them access to US technology from software to circuitry.

The Shanghai-based company, a supplier to Qualcomm Inc. and Broadcom Inc., lies at the heart of Beijing’s intention to build a worldclass semiconductor industry and wean itself off a reliance on American technology. Washington in turn views China’s ascendancy and its ambitions to dominate spheres of technology as a potential geopolitical threat. A blacklisting threatens to cripple China’s longer-term ambitions by depriving it of crucial gear. Bloomberg News

Tuesday, December 22, 2020 B3

ETROIT—In the middle of last year, Tesla’s losses were piling up, sales weren’t enough to cover expenses and big debt payments loomed. The situation was so bad that one influential Wall Street analyst raised the possibility that Tesla wouldn't be able to pay its bills and would have to be restructured financially.

Since then, the electric car and solar panel maker's shares have skyrocketed, rising over 700 this year alone. Monday morning it will join the prestigious S&P 500 index with a market value of over $600 billion. It's the largest addition in the history of the index.

Tesla's r ise to become the world's most valuable automaker and rank among the top 10 biggest US companies is a surprising accomplishment considering that the company lost $1.1 billion in the first half of 2019. The increase is so stunning that even CEO Elon Musk has said the shares are overpriced.

Global sales hit a record of almost 140,000 in the third quarter, debt has been reduced with proceeds from stock offerings, and Musk's company is building two huge factories to make new vehicles and satisfy demand. Intensely loyal followers have invested billions and Musk has become the world's third-richest man, according to Forbes.

Tesla and Musk have for years engendered strong divisions on Wall Street, and the rise from near-collapse to an astronomical valuation is no exception.

Many investors who drove Tesla's value higher are individuals who bought the stock after a

five-for-one split reduced the price of a single share last summer. The bulls are largely betting on the company's future and point to five straight profitable quarters, rising sales, and world-leading battery and software technology to justify their bets.

Bears, including short sellers who have lost millions betting against the stock, still predict a collapse. They cite limited markets for high-priced Tesla vehicles, repeated quality problems, huge capital costs for factories, and growing competition from conventional automakers.

New York investment manager Ark Invest has consistently predicted Tesla's meteoric rise. Ark says Tesla has a technology advantage over other auto companies in performance and range of its vehicles. And if Musk makes good on his pledge to reduce battery costs, demand for electric vehicles will rise, with Tesla uniquely positioned to respond at large scale.

"If you look at a company like Tesla, they're single-handedly in a way sort of making that curve, because they're the largest producer of batteries," said analyst Tasha Keeney.

Tesla's lowest-priced vehicle, the Model 3, is pulling buyers

from mainstream brands with a base price of $37,990, Keeney said. That can quickly rise above $40,000 or even $50,000 with options. Tesla's upcoming angular Cybertruck pickup, starting at $39,900, will hit a mass market price comparable to other pickups, Keeney said. And Musk has promised battery breakthroughs that will bring a more affordable $25,000 vehicle, she said.

Ark sees Tesla's shares rising to $1,400 by 2024. The investment firm also sees earnings potential from Tesla one day using its vehicles to run a profitable autonomous robotaxi service. Tesla, Keeney said, is building a huge database of experiences from cars now on the roads, giving it an advantage over competitors including Alphabet Inc.'s Waymo, considered to be the leader in autonomous driving technology.

This all makes little sense to the bears, who consider Tesla's valuation absurdly high. On paper, Tesla is worth more than Toyota, Volkswagen, General Motors, Ford, Fiat Chrysler, Nissan and Daimler combined.

"Tesla shares are in our view, and by virtually every conventional metric, not only overvalued, but dramatically so," J.P. Morgan analyst Ryan Brinkman wrote in a note to investors. He has a $90 oneyear price target on the stock, even though it closed Friday at $695.

Demand for Tesla shares is expected to be strong on Monday as institutional investors buy to make their portfolios mirror the S&P 500. But Brinkman recommends against that.

Tesla Inc.'s valuation is more than double that of Toyota Motor Corp., which typically sells over 10 million vehicles worldwide every year. Last year Tesla sold 367,500.

Toyota's July-September profit of $4.5 billion was over six times

higher than Tesla's net income during its five-quarter profit streak.

On a November earnings conference call, Toyota President Akio Toyoda said that Tesla isn't a real automaker yet. "You can use the analogy of kitchen and chef," Toyoda said. "They have not created a real business yet or a real world yet, but they're trying to trade the recipes. And the chef is saying that, well, our recipe is going to become the standard of the world in the future. I think that is a kind of business they have," he said.

Tesla, which this year disbanded its media relations office, did not respond to requests for comment.

One of Tesla's challenges is to make a profit from the sales of vehicles. The company would lose money if not for payments from other automakers who buy regulatory credits to make up for failing to meet government pollution standards.

Erik Gordon, a business and law professor at the University of Michigan, notes that the income from those credits will fall as other automakers roll out their own electric vehicles, he said.

"At some point Tesla has to prove itself as a business, not as a stock market phenomenon," Gordon said.

To do so, Tesla has to sell more vehicles. The Model 3 was initially billed as a $35,000 vehicle for the masses, but it doesn't make money at that price, Gordon said. The Cybertruck is Tesla's best chance to move beyond a niche seller because people will pay more for pickups, he says.

But Detroit's three automakers all have announced plans for electric pickups of their own and will defend their main profit source.

"They will fight to the death over that," Gordon said. AP

Lockheed Martin to buy Aerojet Rocketdyne Holdings for $4.4-B

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ockheed Martin Corp. agreed to acquire the defense industr y supplier Aerojet Rocketdyne Holdings Inc. in a deal valued at $4.4 billion.

As part of the transaction, Aerojet declared a $5 per share special dividend, to be paid on March 24, to holders of record as of March 10. The payment of that special dividend will adjust the $56 per share consideration to be paid by Lockheed Martin, according to a statement Sunday. At $51, Lockheed will be buying Aerojet at a 21 percent premium from the closing price on Friday.

Chief Executive Officer Jim Taiclet, who stepped into the top job this year, has said he was keen to

expand the world’s largest defense contractor through acquisitions.

With Aerojet, he’s picking up a key US supplier of propulsion systems for missiles, rockets and other space and defense applications.

“Acquiring Aerojet Rocketdyne will preserve and strengthen an essential component of the domestic defense industrial base,” Taiclet said in the statement.

Lockheed has been scouting for deals. In January, the company said it’s flush with cash and open to deals as rival Raytheon Co. prepares to combine with United Technologies Corp. to create an aerospace-and-defense powerhouse. Lockheed has been seeking opportunities to “bring in the

technologies faster into the company that we think are going to be crucial for the future,” Taiclet said during its October earnings call.

“So we plan to be active, but we also plan to be very, very prudent.”

The Aerojet transaction is expected to close in the second half of 2021 after getting regulatory approvals and a nod from Aerojet’s shareholders.

Aerojet rose 0.5 percent to $42.04 Friday, giving the El Segundo, California-based company a market value of $3.25 billion.

Lockheed climbed 1 percent to $356.03 for a market value of about $100 billion.

Aerojet’s stock is trading at 25 times expected earnings, com-

pared with 16 times for Lockheed.

Aerojet’s shares have fallen 7.9 percent this year and Lockheed dropped 8.6 percent, both underperforming the S&P 500 Index, which climbed 15 percent.

Lockheed’s space division is its third-largest business, contributing 18 percent of its 2019 revenue.

The company competes with Elon Musk’s SpaceX for US government rocket launches through the United Launch Alliance, its joint venture with Boeing Co. Lockheed was advised by Goldman Sachs, Ardea Partners and Hogan Lovells, while Citigroup and Evercore, as well as Jenner & Block and Gibson, Dunn & Crutcher represented Aerojet.Bloomberg News

32 firms named in HR Asia’s ‘Best Companies to Work for in Asia’

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I NG A P OR E — I n a y e a r marked by a pandemic and continued globa l uncertainty, 32 companies across Singapore have been named among HR Asia's Best Companies to Work for in Asia.

HR Asia's Best Companies to Work for in Asia Awards recognizes companies that have shown world-class employee engagement and workplace excellence, while displaying demonstrable empathy

and care for their employees.

The awards is Asia's largest, covering over 300,000 employees across 11 markets. Employees rate their employers using the proprietary Total Engagement Assessment Model (TEAM) survey, which covers collective consciousness, workplace sentiment, and team dynamics—making the HR Asia Best Companies to Work for in Asia Awards the only awards program that is entirely employee driven.

In Singapore, over 180 companies were shortlisted, with the final 32 named as winners.

Award winners include six-time consecutive winner Far East Organization, four-time consecutive winners British American Tobacco, Mazars LLP, and Mundipharma Singapore, three-time consecutive winner Borouge Pte Ltd and SAS Institute Pte Ltd, as well as the two-time consecutive winners City Developments Limited, Coach

Singapore Pte Ltd, Evonik (SEA) Pte Ltd, NTUC First Campus Cooperative Ltd, Sanofi and Zuellig Pharma Singapore.

"The survey in Singapore this year has once again highlighted the leading role played by Singaporean companies in promoting employee welfare and engagement. Singaporean companies consistently score higher than regional peers in such areas as group dynamics and team cohesion; and this year is no

different", said William Ng, group publisher and editor-in-chief of Business Media International, the publisher of HR Asia.

"In times like these, we ask the all-important question: what separates the absolute best of employers from the good ones? Over the past 11 years of running Asia's largest HR media brand, and 7 of those years surveying thousands of companies and millions of employees for the HR Asia Best

Companies to Work for in Asia, we distilled the shortlist of answers to only one: empathy," added Ng. This year, 6 Singaporean companies also won the WeCare certification, which is given out along with the HR Asia Best Companies to Work for in Asia 2020. They are Baxter Healthcare (Asia) Pte. Ltd., Borouge Pte Ltd, Certis, Johnson and Johnson Pte Ltd, Lazada Singapore Pte Ltd, and SAS Institute Pte Ltd.

B4

Art

BusinessMirror

Tuesday, December 22, 2020 • Editor: Gerard S. Ramos

www.businessmirror.com.ph

Dutch court refuses to return painting to Jewish heirs

T ‘Jefrë: Points of Connection’ first solo exhibit AN interactive exhibit featuring 40 new human-scale, site-specific installations and sculptures is Point of Connection, the first solo show of Jefrë spread across an 800 sqm floor space. The artist’s past projects are displayed alongside a series of sculptures that take visitors through an interactive and personal journey guided by stanzas from “Heart to Heart,” a poem written by Jefrë himself.

The collection of immersive installations will explore the artist’s personal history as a child of immigrants, survivor of heart disease, and his practice as a city placemaker.

This includes pieces from his highly lauded Talking Heads series, as well as new installations that celebrate cultural symbols.

More than an interactive museum exhibit, Points of Connection uses Jefrë’s personal journey to weave a story that illuminates the common human experiences shared across age, gender, ethnicity, and nationality.

Additionally, Jefrë: Points of Connection showcases an exciting collaboration with Grammy Award-winning artist AYO The Producer’s Sound Art. AYO The Producer’s recent success includes Cardi B’s recordbreaking hit song, “WAP.” Jefrë: Points of Connection is the artist’s first solo museum exhibit featuring multimedia sculptures and installations that are now signature hallmarks of his practice. The exhibit is presented by Advent Health and Dr. Philipps Charities, with additional support from Monster XP and Mall at Millenia.

Jefrë Figueras Manuel is a Filipino-American landscape and public artist. As a graduate of Ohio State University, Jefrë found work with many highprofile clients such as Skidmore Owings and Merrill, Santiago Calatrava, and Philippe Starck. However, Jefrë’s flourishing career was almost cut short when he suffered an unexpected heart attack at the age of 35. Taking a newfound sense of inspiration, Jefrë launched his own firm, Studio Jefrë to work on functional pieces of public art that fosters dialogue between people of all walks of life.

Jefrë: Points of Connection runs until January 3 exclusively at the Orlando Museum of Art in Orlando, Florida, USA. More information about his latest work can be found at www.facebook.com/jefre.manuel.90.

HE HAGUE, Netherlands—A Dutch court on Wednesday rejected a restitution case brought by heirs of a Jewish family that originally owned a painting by Wassily Kandinsky that was bought by the city of Amsterdam at an auction in 1940.

The Amsterdam District Court upheld a 2018 ruling by The Netherlands’ restitution committee that the artwork, titled Painting With Houses, which is the collection of Amsterdam’s Stedelijk Museum, does not have to be returned to the family.

James Palmer, who represents the heirs, called the decision unacceptable. Lawyers for the heirs said they will appeal.

“If this court decision is left unchallenged, then Dutch restitution policy will effectively be nonexistent, and important looted art in The Netherlands will likely never be restituted,” he said.

“After many years of struggles, the Lewenstein family is very disappointed that the Amsterdam District Court did not recognize the Lewenstein family’s rights to the restitution of its property, which was misappropriated during the Holocaust,” defense lawyers said in a statement.

The 2018 ruling said the painting was not stolen

or confiscated before it was auctioned, but also stated that the sale “cannot on the one hand be considered in isolation from the Nazi regime, but on the other hand has to have been caused to an extent by the deteriorating financial circumstances” of the original owners before Nazi Germany invaded and occupied The Netherlands during World War II. Lawyers for the heirs argued that the restitution committee included members “who apparently have a strong bias in favor of the Stedelijk Museum” and ignored other legal issues linked to the restitution of art sold by Jewish families before and during the war.

The court rejected the arguments.

In a written response, the City of Amsterdam, which owns the Stedelijk, said the court had ruled that the 2018 restitution committee decision “is not unacceptable by standards or reasonableness and fairness and therefore should not be set aside.”

“We are well aware that this is disappointing for the claimants,” the municipality added. “This painting will forever be linked to a painful history. The relationship of our collection with the Second World War will always be important, [and] we will continue to show information about this to the public, online and also in the gallery.” AP

Today’s Horoscope

By Eugenia Last

z

CELEBRITIES BORN ON THIS DAY: Jordin Sparks, 31; Brooke Nevin, 38; Ralph Fiennes, 58; Diane Sawyer, 75.

Happy Birthday: Verify information carefully this year. The best way to eliminate uncertainty is to know what you are up against and to act accordingly. Refuse to let anyone use pressure or emotional tactics to sway your opinions or decisions. Run the show instead of taking a wait-and-see approach. Be direct and forceful, and pursue your goals with passion. Your numbers are 7, 19, 23, 27, 30, 41, 44.

a

ARIES (March 21-April 19): You could feel pressure to get things done before the year comes to a close. Don’t let trivial matters get to you when it’s the big picture that counts. Stay focused on what’s important to you, and tie up loose ends. HHH

b

TAURUS (April 20-May 20): A sudden change will cause uncertainty. Figure out precisely what you want to do, and put your strategy in place. Use your intelligence to navigate your way forward. Put together the documents required to make a move when the time is right. HHH

c

GEMINI (May 21-June 20): Trust in yourself, not what someone is telling you. Look at every angle and consider the consequences of your actions. Look over personal and professional contacts, and evaluate your options. Solidify your relationship with someone special. Romance is favored. HHHH

d

CANCER (June 21-July 22): Rely on your intelligence, creativity and charisma to help you seal a deal, connect with someone you want to work alongside next year or commit to someone special. Make plans, and put an end to uncertainty. HH

e

LEO (July 23-Aug. 22): Don’t jump to conclusions. Document what you spend, what you do and what’s still on your to-do list.

Organization and preparation will eliminate stress and ensure that you have time left to spend with someone you love. Romance is encouraged. HHHHH

f

VIRGO (Aug. 23-Sept. 22): Embrace change. Making room for projects and home improvements or clearing a space conducive to learning something new will empower you to reach your goal. Don’t let a pretense someone offers herd you in the wrong direction. HHH

g

LIBRA (Sept. 23-Oct. 22): Consider what will make your life easier and less stressful and encourage better concentration, then make the necessary adjustments. How you structure your life and space will determine how well you do. HHH

h

SCORPIO (Oct. 23-Nov. 21): Think outside the box, and you’ll surprise someone special. A unique approach to how you live will attract someone who wants to be on your team.

Speak up and take action; everything will fall into place.

Take control and run the show. HHH

Haegue Yang art pieces now open for online and physical tours THE thought-provoking and genre-defying artworks and installations of celebrated South Korean artist Haegue Yang may now be viewed through guided online and physical tours.

Cone of Concern, Yang’s first solo exhibition in the Philippines, is brought by the Museum of Contemporary Art and Design of the De La Salle-College of Saint Benilde.

Curated by its director Joselina “Yeyey” Cruz, it exemplifies how one of the most prolific creators of her generation in the world today produces a form of conceptual language and an aesthetic vocabulary that is uniquely interwoven.

The titular Cone of Concern refers to a graphic tool for weather forecasting that specifically traces the path of an oncoming tropical depression or devastating storm. This system built to predict the trail of the disturbances present how humans attempt to confront natural phenomena. The artistic proposal in the midst of this concept is to draw out the metaphoric toward the notion of solidarity among those facing difficult circumstances, and with human imagination understand our very own condition in the universe.

Throughout the online tour, spectators can virtually walk through the exhibition and view the internationally admired

creations, to include the angled graphic works on the Mezzanine.

The trip concludes with engaging live discussions between the guides and the viewers for further explorations.

Haegue Yang: The Cone of Concern is supported by the Ministry of Culture, Sports and Tourism of Korea, Korea Arts Management Service, Fund for Korean Art Abroad, Hyundai Card, Goethe-Institut Philippinen and IFA (Institut für Auslandsbeziehungen). It is produced in collaboration with S.C. Vizcarra.

Book an online tour or a private appointment through www.mcadmanila.org.ph/visit. The exhibit is on view until March 31, 2021.

Art enthusiasts who wish visit physically should book a private appointment from Tuesday through Thursday, 10 am to 5 pm. Health and social distancing protocols will be enforced. Each guest is encouraged to register individually.

Slots are limited per day and must be secured in advance.

The Museum of Contemporary Art and Design is at the De La Salle-College of Saint Benilde, School of Design and Arts Campus, Dominga Street, Malate, Manila.

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SAGITTARIUS (Nov. 22-Dec. 21): Control your emotions in order to avoid appearing insecure or indecisive. Focus on getting things done, taking good care of yourself and loved ones, and creating a strategy that will lead to a better future. Avoid questionable people and offers. HHHHH

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CAPRICORN (Dec. 22-Jan. 19): An aggressive stance will help you get your way. Use your intelligence to outmaneuver any competition you face. Don’t let uncertainty cause you to miss an opportunity. HH

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AQUARIUS (Jan. 20-Feb. 18): Be careful not to start something you cannot finish. You’ll come up against opposition if you try to make changes that others don’t like or refuse to accept. Pay more attention to personal growth, better health and fitness, and nurturing meaningful relationships. HHHH

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PISCES (Feb. 19-March 20): Connect with people who have helped you in the past, and show interest in what others are doing. The information offered will encourage you to assess your direction and modify what you are doing to suit trends.

HHH Birthday Baby: You are intense, ambitious and perceptive.

You are innovative and charming.

‘wrest-le’ by pam klawitter The Universal Crossword/Edited by David Steinberg

ACROSS 1 Places where cranberries grow 5 ___ up with (tolerates) 9 Stumble 13 Smooth out wrinkles 14 Still competing 15 One lacking netiquette 16 Colorado tributary 17 Spanish for “girl” 18 The Office cocreator Gervais 19 Starbucks record keeper?

22 Some native Alaskans 23 Tool with teeth 24 Work with a Singer 27 Online talk type 28 Work up a sweat 31 Get all snug 33 Actors at the queen’s Scottish retreat?

35 Japanese beverage 38 A Wrinkle in Time director DuVernay 39 Greek war god 40 Bit of LeBron’s baby memorabilia?

45 Flowers named for a rainbow goddess

46 Couple’s clash 47 Scoreboard tally, briefly 50 Hrs. that ended on Nov. 1 in 2020 51 ___ de Janeiro 53 Man 55 Smartphone program I cherish most?

59 “Eat crow” or “talk turkey” 61 ___ Grey tea 62 Self-defense spray 63 Doherty of The Mamas and the Papas 64 Red beans go-with 65 H.S. exam with two sections 66 Herb that’s also a color 67 “Unfortunately...”

68 That doe’s DOWN 1 The Siberian tiger is the largest one 2 Baltimore bird 3 Enjoyed a round of shots?

4 Big muddle 5 Evergreen-scented cleaner 6 Ounce, for one 7 Funny Fey

8 Casual attempts 9 Group of Jeopardy! contestants 10 Totally awesome person 11 Category 12 Toilet paper layer 15 Gardening or masonry tool 20 James in the Blues Hall of Fame 21 Eric of Dirty John 25 “Anyone ___?”

26 Dampens 29 Mosque prayer leader 30 Is really, really into 32 One who crosses a line 33 Seeks people food 34 Hoarse sound 35 Slide sideways 36 Snobs put them on 37 Making a muffler, say 41 Main character in Zits 42 Continent with the shortest name 43 Stumps 44 Thing in a shopping basket 47 Request that may be “pretty” 48 Part of a Hot Wheels collection 49 Cookies, candy and cake

52 Puccini work 54 ___ node (immune system part) 56 Refine, as a skill 57 Sandcastle tool 58 Black-and-white predator 59 Boarding requirements, briefly 60 Narcs’ org.

Solution to Friday’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

Editor: Gerard S. Ramos

• Tuesday, December 22, 2020

B5

A time of healing and forgiving JOHN ARCILLA

‘Wonder Woman 1984’ grabs $38.5 million overseas

By Lindsey Bahr The Associated Press THE superhero sequel Wonder Woman 1984 has earned an estimated $38.5 million in ticket sales from international theaters, Warner Bros. said on Sunday.

The film starring Gal Gadot started its rollout abroad last week, opening in 32 markets including China and playing on upwards of 30,000 screens. The studio said admissions totaled over 6 million and that the largely positive reviews bode well for its future.

Most of the earnings came from Chinese theaters, where it earned an estimated $18.8 million. It wasn’t enough to take first place in the country, however— that honor went to a local release.

Wonder Woman 1984 won’t open in US theaters until Christmas Day, when it will also debut on HBO Max. The pandemic has forced studios, like Warner Bros. to embrace unconventional release plans to get films out to audiences.

Originally, Wonder Woman 1984 was supposed to open in theaters worldwide this summer, but its release date kept getting pushed back. The first film made over $821 million worldwide in 2017 and absent the pandemic, the hope was that the sequel, which cost around $200 million to make, would even surpass that total.

Warner Bros. has tried a few different strategies with its films this year, including releasing Tenet in theaters and sending The Witches straight to HBO Max. Finally last month the studio decided to embrace a hybrid release for Wonder Woman 1984. Tenet opened internationally first as well, taking off with $53 million from 41 markets in late August.

MAINE MENDOZA

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OR sure, this Christmas will be most different from all the past holiday seasons that we can remember. Celebrations all over the world will have to adjust to the call of the times, when human health continues to be endangered and put at risk by the unseen enemy that has changed the way we live our lives.

Normally, this is the busiest week of the year— when families get together for their holiday feasts, when employees prepare for their year-end office parties, when overseas workers come home to be reunited with their loved ones, when malls and supermarkets are filled with last-minute shoppers, when traffic becomes the greatest equalizer, when watching local films becomes an annual holiday activity.

For the coming Metro Manila Film Festival (MMFF), one movie about the life of a healing priest stands out to deliver the most appropriate message of the season about faith, healing and forgiveness. Suarez, The Healing Priest chronicles the colorful life of one of the few celebrated Filipino Catholic priests who was bestowed with the rare gift of instant healing.

We recently spoke to actor John Arcilla, who gives life to Fr. Fernando Suarez in the biopic directed

by Joven Tan, the debut film project of Saranggola Productions, owned by former concert production executive turned businesswoman Edith Fider.

Arcilla requested to meet with Fr. Suarez before he decided to take on the offer of the producers.

“We met him in a hotel lobby, and he struck me as a simple, unassuming person who was a charismatic conversationalist. I knew a little of him in the past and have researched about him before that meeting. Fr. Suarez told me that he saw Heneral Luna, and he really handpicked me to portray him should his biopic push through. Of course, I was flattered and everything felt right during the meeting, so I accepted the offer from my producer.”

The meeting will turn out to be the only chance Arcilla will have to come face to face with Fr. Suarez, because in early February this year the priest collapsed and died in the middle of a tennis game.

“Everything happens for a reason and always in God’s time,” said Arcilla, adding, “Fr. Suarez shared that

ATOM ARAULLO

tennis was his favorite because he got to release all his suppressed and pent-up energies in the game. The man had his share of controversies and stress, but he was vindicated just before he died when the higher orders of the Catholic Church declared him innocent of the charges against him.”

Arcilla, who was raised by Catholic priests during his teens in Quezon province and was twice denied when he applied to enter priesthood, went on to share that the movie deals a lot about faith and forgiveness.

“There are many kinds of healing, and like many other people who has that special gift, Fr. Suarez’s brand of healing was based on faith. He would reiterate to me that he is not the healer but God. There were accounts of instant healing that led to his popularity and being labeled as the healing priest. I feel it’s the perfect time to show the film because the pandemic has caused a lot of unwelcome emotions of sadness, grief, worry and anxiety. At a most difficult time in our lives, we all need to hold on to something to be able to hang on and face our day-to-day challenges, and that is faith.”

The underlying message of Arcilla’s movie is clear: It is not only the physically sick who needs healing.

May the true spirit of the season illuminate our lives darkened by these forces that we have to fight and conquer soon. And may love restore our faith in ourselves and each other, so we can all heal and be whole again.

Let us all have a healthy, happy, hopeful Christmas. n

LAURICE GUILLEN

Ariana Grande announces engagement, shows ring on Instagram LOS ANGELES—Ariana Grande has announced she is engaged in a series of photos of her and her fiance and her engagement ring.

The “Rain on Me” singer posted the photos of her cuddling with Dalton Gomez, a luxury real estate agent, on Instagram on Sunday. Grande included a close-up shot of the ring in the post, which was captioned “forever n then some.”

The singer’s mother congratulated the couple on Twitter, saying she was excited to welcome Gomez to the family.

People magazine reported Grande and Gomez started dating earlier this year.

Grande released her latest studio album Positions in November. On Monday, Netflix will release a behind-the-scenes movie on her Sweetener world tour, titled excuse me, i love you.

She was previously engaged to Saturday Night Live cast member Pete Davidson in 2018, but they ended their relationship later that year. AP

MEL TIANGCO

GMA programs, personalities win top honors from various award-giving bodies GMA continues to receive accolades with its various programs and personalities earning multiple feats from various award-giving bodies.

The Clash master Julie Anne San Jose won big at this year’s Aliw Awards after being named Entertainer of the Year and Best Rhythm and Blues Artist, another notable feat she can add to her growing achievements.

On the other hand, The Clash journey hosts Rita Daniela and Ken Chan took home the Best Featured Performance plum for their number at the Two-gether Again concert.

Earning the nod as Best Male Host was Derrick Monasterio. Fast-rising singer Golden Cañedo received the Best New Female Artist award, while comedian and TV host Donita Nose was chosen as the Best Stand-Up Comedian.

The Clash director Louie Ignacio was inducted into the Aliw Hall of Fame for Best Concert Stage Director after winning the said award for the fifth time.

Bilangin ang Bituin sa Langit director Laurice Guillen was given the Lifetime Achievement Award,

while daughter Ana Feleo—a professional actor, distinguished classical performer and acting coach— was recognized as Best Classical Performer.

At the recently concluded Paragala: The Central Luzon Media Awards, GMA News and Public Affairs dominated the News and Current Affairs category.

The network’s flagship newscast 24 Oras was again hailed as Best News Program. This is the seventh time the much-honored program was given the award, making it the only newscast to win the recognition since Paragala was launched. The acclaimed i-Witness won the Best Documentary for Kara David’s episode “Silaki,” while travel and adventure program Biyahe ni Drew won as Best Magazine Show.

Six out of Paragala’s top 7 news personalities also came from GMA. These included top GMA News figures Mike Enriquez, Mel Tiangco and Arnold Clavio, as well as award-winning broadcast journalists Kara David, Ivan Mayrina and Atom Araullo. Various GMA shows also received special awards by various Paragala juries.

iJuander was given this year’s Paragala Pang Kultura, which was chosen by the Center for Kapampangan Studies. Earning the Paragala Pampamilya award was Pepito Manaloto as it was the Jury’s Choice of Holy Angel University’s Campus Ministry and Guidance Office. Infotainment show AHA!, on the other hand, received the Paragala Pang-Likhaan as decided by the Communicator’s League, the official organization of the Holy Angel University’s Communication students.

Meanwhile, at the 10th EdukCircle Awards, Alden Richards and Maine Mendoza were recognized as part of the Most Influential Celebrities of the Decade for their impact among audiences and using their platform for social good.

For their exceptional performances in the past year, several GMA personalities were also honored by local entertainment web site LionhearTV.net at its annual RAWR Awards.

Alden was named as Actor of the Year while Maine won the Actress of the Year plum. Aiko Melendez was

named Favorite Kontrabida for her work in the toprating GMA afternoon series Prima Donnas.

GMA News and Public Affairs also scored notable wins with top GMA News figure Jessica Soho named as Female News Personality of the Year and Atom Araullo taking home the Male News Personality of the Year prize.

Finally, Descendants of the Sun Philippines lead actor Dingdong Dantes was among the recipients of their Most Admired Celebrities plum.

Founded by Alice H. Reyes in 1976, Aliw Awards is the country’s pioneering award-giving body for live entertainment. The 7th Paragala: The Central Luzon Media Awards was organized by Holy Angels University where 30,000 students from 31 schools in Central Luzon chose the winners. The EdukCircle Awards, on the other hand, recognizes personalities for their outstanding contribution to Philippine television, while LionhearTV’s RAWR Awards honors the best and the brightest in the Philippine entertainment industry.

B6 Tuesday, December 22, 2020

SM Foundation turns over super health center for Manileños

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upgraded diagnostics and laboratory services, improved pharmacy, women’s wellness center and treatment hub for HIV patients.

This two-story health center, which caters to a population of 45,200 individuals, is located near SM City Manila and SM City San Lazaro.

SM Foundation helps empower the Health Centers ability to transition to the new normal by renovating and refurbishing the facility and strengthening its capacity to provide health services, especially during this pandemic.

To sustain the project, SM Foundation teamed up with the Philippine Business for Social Progress (PBSP) to conduct health related training programs to capacitate and empower the community

health workers of Manila in their delivery of health services. In addition, SMFI was also able to engage Boysen (through PBSP), by donating paints that contributed in the beautification of the façade of the Super Health Center.

SMFI also ensures the safety of both patients and frontliners by classifying its areas using a color-coded zoning markers and by installing acrylic barriers to augment the safety features of areas where face-to-face assessment or consultations are conducted.

The “zoning” will be used to segregate the most vulnerable areas from safe zones inside the Health Center namely: Red Zone for the most infectious area; Green Zone for transition area, and Blue Zone for the safe areas.

Enchanted Kingdom’s eco-friendly Christmas centerpiece is a ‘Tree of Faith, Hope and Love’

ENCHANTED Kingdom's Christmas Tree Lighting Ceremony was graced by Department of Tourism Assec for Product and Market Development Verna Buensuceso, VIPs from the Park and Attractions Industry, Media partners, social media influencers, and EK’s Executive Committee. The annual tree lighting ceremony is a long-running December tradition, awaited by visitors and the park’s cast members alike.

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HIS year’s dazzling Christmas Tree, towering at 35 feet, is made from 6,000 empty alcohol bottles provided by partner-sponsor PHILUSA Corporation, the country’s leading maker of affordably priced personal, baby, home and health care products since 1957. The PET bottles were upcycled to become EK’s magical Christmas centerpiece, a symbolic offering to all park guests as the year comes to a close. PHILUSA President and General Manager Neogin A. Evangelista

said this partnership between Enchanted Kingdom and PHILUSA is very meaningful as both share a commitment to social responsibility even at this time of pandemic. The eco-friendly masterpiece is a glowing reminder for everyone to stay safe at all times. It is, after all, a Tree of Faith, Hope and Love— Faith that comes from believing in the magic and meaning of the season and having complete trust in God; Hope in holding on to our dreams and aspirations for better days to come;

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OCAL automotive leader Toyota Motor Philippines (TMP) has pledged Php5,000,000 as aid for typhoon relief operations in several locations in the country affected by Typhoon Ulysses. Hitting the country in the last quarter of 2020, Typhoon Ulysses caused flooding and devastation, severely affecting families and livelihoods in Cagayan Valley and Metro Manila, and Rizal.

“We hope this donation will help support the recovery of our kababayans affected by the typhoon,” said TMP President Atsuhiro Okamoto. “2020 has been an extraordinary year because of the impacts of natural disasters and the pandemic, yet I am truly in awe of the Filipino spirit of strength and bayanihan that continues to rise above the challenges.”

“Since moving here in the Philippines last January, I have constantly witnessed Filipinos’ unwavering support in helping each other in times like these. These are important values that help move this country forward,” he added.

Earlier this year, TMP also initiated numerous efforts in helping communities by donating P2,000,000 for Santa Rosa and Batangas evacuees from the Taal eruption, lending out vehicles for health care workers, LGUs, and volunteer groups during the COVID-19 ECQ, providing mobility solutions for PGH health care workers through sanitized Just-In-Time free shuttle services, donating

PPEs, supplies, and groceries in nearby communities in Santa Rosa and the Santa Rosa Community Hospital, and donating 30 Vios units to various DOH and LGU hospitals in Metro Manila and Santa Rosa.

“As this year comes to a close, we remain hopeful and optimistic in taking our learnings from this year and starting anew in 2021.

Thank you for letting Toyota be a part the nation’s journey to better days ahead. TMP continues to be one with the country towards nation building and economic recovery,” concluded Okamoto.

TMP is also providing sales and service discounts on Toyota vehicles that sustained damage as a result of the recent typhoons. For details, click https://toyota.com.ph/promos/ typhoonsupport. For updates on programs and partnerships with communities, visit www.toyota.com.ph or check out ToyotaMotorPhilippines (Facebook and Instagram), and @ToyotaMotorPH (Twitter).

#WeDontStop movement offers fun, innovative free-to-enjoy ways this Christmas season

ACRYLIC barriers were installed in areas where face-to-face assessments or consultations are conducted.

M Foundation Inc. (SMFI) turns over on December 17 its gift for Manila residents—the newlyrenovated Tondo Foreshore Super Health Center and Lying-in Clinic.

This serves as the 171st Wellness Center of SM Foundation and the first “super health center” in Manila with a one-stop shop polyclinic that provides: medical consultations, dental services, elderly and PWD care, diabetes and hypertension clinic, immunization, prenatal and post-partum care, adolescent care, IDOTS Clinic (attending to drug susceptible TB), RTDL (or Rapid TB diagnostic laboratories) and a 24/7 lying-in clinic.

The additional services available in the center are the specialty clinics, an

Toyota Motor Philippines donates P5M to areas stricken by Typhoon Ulysses

and Love that we experience and share with our families and friends all 366 days of this very trying 2020.

Despite EK’s grand plans for its 25th year anniversary last October, the park scaled down the fanfare and festivities and instead focused on “Celebrating the Magic of Faith, Hope and Love,” a very relevant and meaningful theme to mark its silver milestone.

EK continues its magical entertainment throughout this Christmas season with the following shows: the Journey of Love and Hope, Eldar’s Symphony of Lights and Sounds and EK’s Moonlight Parade performed by EK’s Circle of Artists, and special performances by Victoria’s Way and Kingsmen. Dancing and singing to everyone’s hearts is their way of saying “A Magical Christmas and Thank you to All!” The Christmas Tree will shine bright every night this holiday season with strict observance of safety measures to prevent crowding. Trust that your favorite theme park has all its health and safety protocols in place to give everyone the most magical and worry-free park experience in the remaining days of 2020 and beyond.

Follow EK’s official Facebook page www.facebook.com/enchantedkingdom. ph and official Twitter & Instagram accounts to get the latest updates on promos and ticket reservations and bookings. Click and visit EK’s official website www.enchantedkingdom.ph for more information.

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HE holidays this year look very different from what we’re all used to,’ said Eric Tanbauco, Head of GOMO. “We understand that a lot of people will be missing nights out and Christmas parties. We wanted to give everyone a way to still enjoy celebrating through inventive digital experiences that only GOMO can provide.”

First on the roster of holiday happenings is the #WeDontStop Nightlife Virtual Pub Crawl. Partnering with Shoor, GOMO has created a virtual night out, which invites participants to have a drink and play some interactive games at some of their favorite pubs and restaurants in the city.

Poblacion serves as the backdrop for this virtual night out. Hosted by Lexi Mendiola, the pub crawl lets users bar hop their way through Poblacion favorites Agimat, Kampai, Filling Station, A’toda Madre, and Wyp & Unwind. Each venue hosts different guests and games to play like “Never

Have I Ever”, “Diner Dash”, and “Invent a Cocktail Challenge”.

The best part is that players can dress to the nines and enjoy the experience together with friends through their favorite video conferencing app, just as if they were all together.

The new game-changing telco brand is also launching the #WeDontStop Christmas GOMO Ultimate Christmas Party Guide experience. Through this experience, themed Christmas events are enjoyed Bandersnatch style either alone or with friends and family. Party themes include “Homechella”, “Lounge Party”, and “Geek Night”.

Throughout the experience, a virtual barkada invites participants to enjoy different interactive challenges like “Christmas Charades”, “Guess Who”, “Whistle a Tune”, “Stocking Stuffers”, and more. Participants will also be given tips and tricks on how to host these games on their own and amp up their own virtual Christmas gatherings.

Sign up and experience all events for free!

“These events are the part of our exciting ongoing #WeDontStop movement where we encourage everyone to continue enjoying awesome experiences and doing more of what they love despite the current situation.”

GOMO offers a digital-only experience via its all-inone mobile app. Customers can discover new ways to access the internet and have enough data to enjoy GOMO events and experiences free for all to play. To learn more, check out gomo.ph.

Massive Ipo Watershed reforestation slated next year

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PO Watershed, which supplies fresh water to 20 million people living or working in Metro Manila, will be bolstered with hundreds of thousands of new trees next year.

Through donations generated from GCash, the Department of Environment and Natural Resources (DENR), the United Nations Development Programme’s Biodiversity Finance Initiative (BIOFIN) and the World Wide Fund for Nature (WWF) will plant the first of 365,000 native trees like Narra, Lauaan, Kupang and Yakal as soon as COVID-19 restrictions are lifted in 2021.

Using their mobile phones, users can plant trees through GCash Forest. Users earn Green Energy Points by reducing their individual carbon footprints. Paying bills online for instance, eliminates the need to drive to a bank and consume paper for receipts and forms. More points can be garnered for walking to work, taking the stairs and avoiding single-use plastic items.

GCash is the Philippines’ top cashless service and serves a fifth of its population, plus 75,000 partner merchants and 75 nonprofits.

The Philippines is losing at least 52,000 trees daily. Logging, slash-and-burnfarming and land development are annually erasing 47,000 hectares of forestland – an area thrice the size of Quezon City.

Just 7.168 million hectares of forestland remains in the Philippines.

Watersheds are zones which naturally collect and store water.

Ipo Watershed, together with the Angat and Umiray watersheds, supplies 98% of Metro Manila’s water needs. Situated northeast of the sprawling Metropolis, it covers 7236 hectares in Norzagaray and San Jose Del Monte in Bulacan, plus Rodriguez in Rizal. It is home to several species of charismatic animals, including the Philippine

RAINFORESTATION is the process of restoring ailing forests with native rainforest species instead of commercial or fruit-bearing trees. Ipo Watershed’s plant nursery brims with native species like Yakal, Kupang, Narra, Lauaan and Dau. DENR, GCash, BIOFIN and WWF aim to plant 365,000 new trees as soon as COVID-19 restrictions are lifted in 2021. (Gregg Yan) Brown Deer, Philippine Warty Pig, Tarictic Hornbill, Grey-headed Fish Eagle and Osprey.

Though protected by several proclamations including a Certificate of Ancestral Domain Title for the Indigenous Dumagat tribes of the watershed, Ipo Watershed is pockmarked by patches of burnt soil. From 85%, forest cover plummeted to 40% in recent years, mostly due to slash-and-burn or kaingin farming and charcoal-making.

It is estimated that for 2021, Metro Manila’s water demands will overtake supply by as much as 13% during peak days, meaning more dry faucets and unserved households – but taking care of watersheds can avert this.

www.businessmirror.com.ph

Banking&Finance BusinessMirror

Citystate Savings increases authorized capital to ₧1.8B

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itystate Savings Bank Inc.’s shareholders approved the increase of its authorized capital stock to P1.8 billion during a special meeting on Monday.

In a disclosure, the listed bank said that the recent move effectively amends the previous approval to hike the authorized shares last year.

The bank’s board of directors back in May 2019 greenlighted an amendment to raise the authorized capital stock to P1.5 billion from P1 billion. The shares were divided into 150 million common stocks with P10 par value apiece.

It did not provide further details about the transaction.

In the same disclosure, the bank also shared that it approved Top Ventures Investments and Management Corp.’s subscription to 600,000 shares. The said company in July also bought 7.68 million shares for P10 each or a total of P76.8 million.

Citystate’s shares surged by 5.07 percent, or 41 centavos, to close at P8.50 each amid the 0.66-percent drop for the main index on Monday.

Apart from Top Ventures, AMB.

ALC Holdings and Management Corp. in July subscribed to 42 million shares at par value of P10 each, bringing the total investment to P420 million.

Eternal Gardens Memorial Park Corp. also infused P3.2 million to acquire 320,000 stocks for P10 per share. In 2018, the memorial park developer inked an agreement with Citystate to purchase 1.43 million shares for P10 apiece or P14.3 million in total.

In the first nine months, Citystate saw its net income reach P5.93 million, which is a turnaround from a net loss of P31.59 million a year ago for the same period.

The growth in the bottom-line figures was supported by net interest income, which grew by 11.65 percent to P155 million as of end-September from last year’s P138.83 million.

The listed bank’s deposit liabilities and loan portfolio stood at P3.02 billion and P2.26 billion in the first three quarters, respectively.

Meanwhile, total assets and capitalization reached P4.33 billion and P645.48 million, respectively, as of end-September. Tyrone Jasper C. Piad

Fed decision sets stage for $11B in buybacks

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he six biggest US banks will be able to buy back as much as $11 billion of their own shares in the first quarter of next year after the Federal Reserve gave lenders the green light to resume purchases.

The central bank’s show of confidence released late Friday followed a second round of 2020 stress tests, which indicated Wall Street navigated the Covid-19 turbulence and has adequate capital to weather an extended economic downturn caused by the virus. In June, the Fed put temporary caps on shareholder payouts by the biggest banks, prohibiting them from buying back their own stocks or increasing dividend payments.

JPMorgan Chase & Co. and Morgan Stanley said in statements they plan to resume buybacks starting next quarter. Citigroup Inc. and Goldman Sachs Group Inc. said they also intend to resume purchases next year, while Bank of America Corp. Chief Executive Officer Brian Moynihan has said the firm plans to buy back stock “as soon as we’re allowed to.”

Bank buybacks to resume

Based on the new distribution policy, the six biggest US banks could buy back as much as $11 billion of shares in the first quarter, assuming fourth-quarter earnings come in at the levels analysts estimate. That would roughly triple their shareholder payouts.

Wall Street banks have been largely

on the sidelines during this year’s stock market rally as they’ve eagerly awaited permission to boost capital distributions. Following Friday’s Fed announcement, shares of the six banks all rose more than 3 percent in late New York trading.

Bank stocks have been laggards since the pandemic began.

Dividends unchanged

Even as buybacks resume, dividends will remain unchanged through March, capped at whatever each bank returned in this year’s second quarter.

The Fed said banks’ payouts to shareholders in the first quarter of next year can’t exceed their average quarterly income for 2020.

The banks currently distribute about 30 percent of their profit to shareholders through dividends. The buybacks can bring total payouts to 100 percent of banks’ average net income over the previous four quarters.

Source of strength

Fed Vice Chairman for Supervision Randal Quarles said the banking system has been “a source of strength during the past year,” adding that the second round of stress tests “confirm that large banks could continue to lend to households and businesses even during a sharply adverse future turn in the economy.” None of the largest banks fell beneath their capital minimums under the Fed test’s hypothetical scenarios. Bloomberg News

Customs Davao port sets 2nd single-day collection

By Manuel T. Cayon

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@awimailbox Mindanao Bureau Chief

AVAO CITY—The Port of Davao posted another national highest single-day collection for the month last week, its second this year and beating the first record by nearly P60 billion.

This amount is also the year’s record nationwide.

The Bureau of Customs (BOC) said it collected P876,050,359.99 on December 17, the highest by any of the BOC ports in the country this month.

This amount was higher to its

previous best single-day collection record set on September 10 this year, when it collected P817,736,040.92.

It was the highest collection that month and was already equivalent to one-half of the target for the month.

The BOC Port of Davao described

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Fitz Gerard Villafuerte

personal finance to provide you not only with customers but also with employees as well.

The second factor is not as important as the first, but employing people from the area will greatly help in your marketing efforts. Do some due diligence and study the communities within and around your prospective location.

2. Determine the sources of foot traffic Foot traffic or the number of people who pass by the area is important if your business will mostly rely on walk-in customers. You can do a physical count during different times and days to come up with an estimate of the foot traffic.

But beside that, you should also consider the sources and quality of

its record as astonishing and said this would be “an immense help to the government’s health, education and infrastructure programs among others, especially those that are deemed essential during this challenging time.”

Meanwhile, Customs agents and environment personnel intercepted in the Davao City port on December 10 this year a shipment of agarwood, classified as the most expensive tree.

The shipment was valued at P1.72 million.

This type of wood is included in the National List of Threatened Philippine Plants as contained in the Department of the Environment and Natural Resources (DENR) Administrative Order 2007-01.

The BOC coordinated its operation with the Davao International Airport, its Environmental Protec-

tion and Compliance Division, with the BOC-Ninoy Aquino International Airport, the Philippine National Police Aviation Security Group and the DENR Region XI. It said its records show that the package was initially mis-declared as “wood frames for souvenirs.”

However, after x-ray scanning and physical examination, the package was instead found to contain 671 pieces of Agarwood chips sought to be illegally exported from the country without the necessary permits from the DENR. The same operation was “interestingly similar” to the recent interception by the BOC-NAIA office of 28 kilos outbound package of Agarwood worth P2.4 million last December 2, the BOC said.

The seized package would be turned over to the DENR.

DBP, DA to distribute cash aid to 900,000 farmers

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he Development Bank of the Philippines (DBP) inked an agreement with the Department of Agriculture (DA) to distribute cash subsidies to around 900,000 marginal farmers.

In a statement on Tuesday, DBP President and Chief Executive Officer Emmanuel G. Herbosa said that a financial technology-enabled electronic voucher (e-voucher) system is being used to ensure the efficient distribution of the cash aid.

“Through the e-voucher system, beneficiaries can claim their cash assistance of P3000 each at any DBP-accredited payout center by presenting their government-issued ID [identification] and the unique reference code sent via text message by the implementing agencies,”

Herbosa said.

The distribution of cash subsidies is under the DA’s Cash and Food Subsidy to Marginal Farmers and Fishers (CFSMFF) program.

The said program provides P5,000-worth of subsidy—P3,000 in cash and P2,000 in food items— for the marginal farmers and fishermen who are enrolled in the “Registry System for Basic Sectors in Agriculture.”

In total, 890,294 farmers and fishermen are expected to benefit from the program. Breaking this down, 346,534 are coconut farmers, 287,128 fisherfolk, 198,023 are corn farmers, 29,702 are sugarcane farmers, while the remaining 29,407 are members of the indigenous communities.

“I am confident that the CFSMFF program would be able to achieve its noble goals, which includes providing market support to local producers of rice, chicken, and eggs; and opening up sources of livelihood for farmers, farmer cooperatives and associations, and micro enterprises as distribution partners in the program,” Herbosa said.

DBP Executive Vice President for Branch Banking Susan Z. Prado, meanwhile, said that the partnership will help the marginal members of the agricultural sector who are severely affected by the pandemic.

“DBP is emboldened by these programs and we hope that the beneficiaries would be able to put to good use the assistance given to them so

that they can recover and rebuild their lives despite the current pandemic,” Prado said.

The DBP has been working with the Agriculture department to promote financial inclusion in the past year, including the distribution of cash aids under the Rice Competitiveness Enhancement Fund and enrollment with the bank of over 5,000 farmer-members.

Both parties also teamed up in disbursing over P1.4-billion worth of cash subsidies to around 300,000 farmers.

Last week, DBP reported that its nine-month net income fell by 26.69 percent to P3.24 billion from P4.42 billion year-on-year because of a higher buffer for credit losses.

Tyrone Jasper C. Piad

AUB receives ‘PRS Aa plus’ from PhilRatings

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he Philippine Rating Services Corp. (PhilRatings) gave Asia United Bank Corp. (AUB) a credit rating of PRS Aa plus with stable outlook.

In a disclosure on Monday, the credit rating agency said that the rating given to the listed bank indicates it has a “strong capacity to meet its financial commitments relative to that of other Philippine corporates.”

A stable outlook, meanwhile, means that the rating is likely to be maintained in the next 12 months.

Shares in AUB went down by 2.8 percent, or P1.30, to settle at P45.05 each amid the 0.66-percent decline

for the benchmark index on Monday.

In coming up with the rating decision, PhilRatings considered its funding profile, capitalization and management and strategy.

The agency said that the bank’s funding profile was “more than satisfactory,” noting that its deposits comprised 90.3 percent of the total liabilities as of end-2019. Of the total deposits, it pointed out that bulk or 82.3 percent were accounted for by current and savings accounts (Casa).

The bank expects its core deposits to keep on growing to improve its funding profile.

“The Group will concentrate its

8 tips to finding the right location for your business

t’s often said that the three most important things to consider when buying a home are location, location, location.

I believe it’s the same when you’re looking for a place to put up your business. Especially for retail stores, restaurants and many other enterprises, finding the right location is a crucial step to ensure immediate profits and initial success.

So how do you find that most suitable place to put up your business?

Do you simply look for a commercial area with a lot of people? What role does competition play when choosing your business location?

Here are eight tips that can help you check if that space available for lease that you’re considering is the right one for your business.

1. Study the demographics of the area There are two things to bear in mind when studying the demographics of a potential location.

First is your target market and second is your manpower requirement. Your location should be able

Tuesday, December 22, 2020 B7

this traffic. Where are they coming from and where are they going to?

This will help you determine the mindset of the crowd and check if your business can catch their attention or if they’ll just ignore and pass you by.

3. Evaluate the security and accessibility of the location There are three groups you should think about when studying the security and accessibility of an area–your employees, your customers, and your suppliers.

Some of the questions you should ask yourself are: Is it safe to do your planned business in the area? Is it accessible to you and your employees?

Will it be easy for your customers to find you? Is there ample parking for customers who have cars? Are there accessible suppliers in the area?

4. Analyze the competition Who will be and where are your competitors? How is their business doing? If these establishments are already having a hard time keeping themselves afloat, then putting up a similar business in the locality is

close to suicide.

However, if you believe that the business is indeed profitable and you want to penetrate the existing market, then the best place to put your business is as close to your competition as possible. Why? Because by doing so, you are likewise making yourself closer and more available to your target market.

5. Get to know your neighbors Always consider what businesses are operating near your planned location. These can affect the image of your business and may give wrong impressions to your potential customers.

For example, a laundry shop will probably not do well if it’s located beside a vulcanizing shop because these establishments give conflicting images of cleanliness. However, a coffee shop may be able to drive customers in if it’s located near a video rental shop because both businesses usually have the same target market.

6. Check it against your space, facility and utility requirements Will the area be enough for your business? It may be tempting to lease

operations on aggressively increasing Casa deposits, through marketing of the bank’s cash management solutions, deposit growth of existing high value clients, new products, and renewed efforts on new customer acquisition,” PhilRatings said.

Meanwhile, it also noted that AUB’s equity to assets ratio improved to 12.5 percent in 2019 from 12.3 percent in the previous year.

The bank’s total equity rose by 13.5 percent to P33.2 billion in 2019 from P29.2 billion in the previous year, owing it to higher retained earnings.

PhilRatings added that the bank’s

asset growth was due to continued expansion of its loan portfolio and financial assets.

“Considering the bank’s more than satisfactory asset quality, AUB’s capital base appears to provide sufficient protection against credit risk, at least in the immediate short-term,” it said.

AUB’s capital adequacy ratio stood at 18 percent.

PhilRatings said that AUB will be focusing on information technology platforms to improve its market presence, remain competitive and enhance customers’ banking experience. Tyrone Jasper C. Piad

out an area because it’s in a good location or because the rent is cheap, but always make sure that it can also satisfy your space requirements and has all the facilities you need.

Additionally, check your utility service providers if the place is within their coverage area. A friend of mine almost rented a place to put up an internet cafe but he canceled his plans when he found out that there is no broadband internet service available for the area.

7. Be aware of the local ordinances and zoning policies Don’t jeopardize your business by operating illegally.

Make sure that your business location will not break any city ordinance or zoning policy. For example, adult entertainment establishments are normally banned from operating within a certain distance from schools.

Furthermore, you should also be aware of other local regulations that could affect your business operations. For example, most homeowners’ associations ask for

monthly fees to operate a business inside their subdivision. You should become aware of this and include it in your initial capitalization and list of overhead costs.

8. Consider possible plans for expansion This may not be an immediate concern, but optimistically thinking about business expansion helps in determining the potential of your desired location. Moving your business to another location is not an easy task. That’s why you have to consider the options available if ever your business would grow and require more space.

If it’s not possible to rent out the adjacent lots or do a reconstruction of the place, then at least go around the area to see if there are bigger and better spaces you can move into when the time comes.

Fitz Villafuerte is a registered financial planner of RFP Philippines. To learn more about personalfinancial planning, attend the 87th RFP program this January 2021. To inquire, e-mail info@rfp.ph or text at 0917-6248110.

B8 Tuesday, December 22, 2020 | mirror_sports@yahoo.com.ph

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RLANDO, Florida—Justin Thomas and Tiger Woods traded text messages on the eve of the final round at the PNC Championship, their teams tied for the lead and in contention. Neither mentioned winning.

This was about Woods getting to play alongside 11-year-old son Charlie, watching him twirl the club after a good drive and yes, even deliver a fist pump in his red shirt on Sunday. For Thomas, it was about competing with his father Mike, a longtime club professional in Kentucky and the only coach he’s ever had.

Team Thomas birdied the opening seven holes and the father delivered a five-foot birdie putt on the 18th hole that gave them a 15-under 57 in the scramble format and a one-shot victory over Vijay Singh and son Qass.

They won the Willie Park Trophy. It only felt like the other 19 teams won a participation trophy.

“Memories we’ll have for our entire lives,” Woods said after he and Charlie posted another 62 to finish seventh. “He’s not going to appreciate this at 11 years old. I didn’t when I

Sports BusinessMirror

Editor: Jun Lomibao

Woods celebrates memory with son was with my dad. As the years go by, you start appreciating it more.”

Woods and his son dressed in his traditional Sunday red with black trousers. Charlie’s mother, Elin Nordegren, walked the final round at The Ritz-Carlton Club at Grande Lakes, her first time at a golf tournament since the 2009 Presidents Cup at Harding Park.

The Woodses played the final six holes in six-under par, too late by then to do anything about Thomas and his father. Thomas, a former world No. 1 and Professional Golf Association champion, has grown close to the Woods clan and talked in the days leading up to this event about how badly Charlie wants to beat him.

Mike Thomas said young Woods took $1 off him on the putting green Saturday afternoon and said with a laugh, “I’ll show him what I got here.”

Mike Thomas specializes in working with juniors

and spends time with Charlie when he’s in Florida.

Thomas, who has multiple PGA Tour titles in each of his last four years, wasn’t about to compare this with with his PGA Championship, World Golf Championships or any other of his 13 tour victories.

Even so, he called the PNC Championship “100 percent the most enjoyable.”

When his father holed the birdie putt, he said he knew there were 10 teams still on the course and it still felt as though the tournament was over.

“A part of you didn’t care who won,” he said. “We were here as father and son to enjoy a special moment.”

That’s what Alastair Johnston, the vice chairman at IMG, had in mind when he created this tournament 25 years ago. It started as the FatherSon Challenge. It since has changed into major champions and Players Championship winners competing with a family member—son, daughter,

Vargas: TNT stays intact for now

father-in-law, grandson.

The idea was that golf fans would be curious to see the children of great players.

Throw in the 11-year-old son of golf’s biggest star, and interest surged to new levels. Charlie Woods delivered a great show, unfazed by the 250 spectators (mostly sponsor guests) or the national TV spotlight.

“I’d like to find the right way to tell Charlie that thousands of kids watching at home will be inspired to want to play golf with their dads,” Johnston said. “He wouldn’t appreciate it now.

But one day he might.” AP

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TIGER WOODS watches his son Charlie’s shoot from the third fairway on Sunday. AP

STRONGER THAN EVER N

APLES, Florida—Ladies Professional Golf Association (LPGA) Tour Commissioner Mike Whan no longer measures success by making it to the end of year disrupted by the Covid-19 pandemic. A schedule for 2021 he released Friday suggests the LPGA Tour came out stronger than ever.

The LPGA Tour has added two tournaments and didn’t lose any of the ones that had to cancel because of the shutdown.

Whan left little wiggle room for more interruptions with a schedule that starts January 21 in Florida and ends with 10 months later with consecutive events in Florida. The first seven tournaments are all in the United States, with the Asia swing moving to the spring.

The 34 official events offer a record $76.45 million in prize money. The largest purse is the $5.5 million for the US Women’s Open at Olympic Club the first week in June, while the largest payoff is the CME Group Tour Championship, which typically awards $1.5 million to the winner.

“We are recapturing the momentum that we had at the beginning of 2020 and we are excited about our future, which will include news of new title sponsors and several significant purse increases,” Whan said.

The LPGA had plenty of momentum a year ago when it announced a 34-tournament schedule. That was before the pandemic shut down the LPGA Tour just four tournaments into the season. It didn’t resume until late July, with two additional events using the “Drive On”

theme to fill some gaps.

The opening event is the Diamond Resorts Tournament of Champions from January 21 to 24 in Orlando. A month later, instead of heading to Australia and Asia, the tour will have consecutive weeks in Florida before moving west for the Kia Classic north of San Diego, the ANA Inspiration as its first major in the California desert. After a week break during the Masters, the LPGA resumes with events in Hawaii and Los Angeles before going to Asia for three weeks.

Whan hopes that moving the Asia events back three months will be enough time for travel restrictions to be eased.

The US Women’s Open goes to Olympic Club in San Francisco for the first time, while the Women’s PGA Championship will be a Atlanta Athletic Club

and the Women’s British Open will be at Carnoustie.

The Founders Cup is leaving Arizona for the first time in its 10-year history, to Mountain Ridge Country Club in northern New Jersey.

The LPGA has added a match play event and an event that will be co-sanctioned with the Ladies European Tour. Details have not been announced on the new events.

Asia has three consecutive events in May and three more in October. Europe also has a stretch of LPGA golf for a month, with the two majors (Evian and the Women’s British Open) along with the Ladies Scottish Open and the new tournament with the LET. The schedule includes the Solheim Cup on Labor Day weekend, to be held at Inverness Club in Toledo, Ohio. AP

Thai club tabs young Azkal Diano

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EFENDER Mar Diano of the Azkals Development Team (ADT) will fly to Thailand next week to play for Muangthong United in the Thai League 1, ADT Head Coach Scott Cooper confirmed on Monday.

ADT, Cooper said, Diano—as well as team captain Jarvey Gayoso who was first hired by the Thai club—would get the much needed experience playing overseas.

“We feel that it’s a good move because Muangthong is a strong club with a big history,” Cooper said. “Both players can make a huge impact in Thailand.”

The 23-year-old Diano, a native of Masbate who played for University of the East in the University Athletic Association of the Philippines, was a member of the Azkals Under-22 squad that saw action in last year’s

Southeast Asian Games where he scored a goal against Timor Leste.

“He had a wonderful SEA Games campaign and we feel that this move will develop his career, help him go from

strength to strength and hopefully develop him into an Azkal,” Cooper said.

The two players will play under Serbiaborn Macedonian Coach Mario Gjurovski in Muangthong.

“I’ve never been afraid to give young players an opportunity. I think we can be proud that we have two ADT players moving to Thailand,” Cooper said. Annie Abad DEFENDER Mar Diano is playing in Thailand.

Marcial, Dizon talk bubble in forum

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HE post-Philippine Basketball Association (PBA) bubble and what’s in store for Season 46 are in the menu on Tuesday as the Philippine Sportswriters Association (PSA) Forum holds its last webcast for 2020.

PBA Commissioner Willie Marcial

and Bases Conversion and Development Authority President and CEO Vince Dizon will be the special guests in the session as they talk about the more than two month Philippine Cup bubble conference in Clark.

The forum—presented by San

By Josef Ramos

NT Tropang Giga will remain intact for the 46th season of the Philippine Basketball Association (PBA) despite finishing the team’s bridesmaid finish in the recent Philippine Cup. VARGAS TNT governor Ricky Vargas, also the PBA chairman, told BusinessMirror that all the players and coaching staff will be retained for the coming season that is tentatively set for an April opening.

“We do our own assessment while everybody is resting so we can plan for the next conference and map out our training program,” said Vargas, adding finishing runner-up to Barangay Ginebra San Miguel in the Philippine Cup was already an accomplishment.

The Gin Kings won in five games.

“We got to the Finals and that’s not a bad accomplishment for a team that was just put together [before the pandemic, while the season was suspended and our key players were injured,]” Vargas said. “Ginebra is a seasoned veteran, much more experienced, they did better than us, and they deserved to win the title.”

Bobby Ray Parks Jr., the most consistent among the TNT players, suffered a right calf injury in Game One and sat out the rest of the series. Jayson Castro was also in Game Four and couldn’t return, too.

Parks went on to win the statistical points race with 38.2 statistical points (SP) with Phoenix’s Calvin Abueva (37.1), Terrafirma’s CJ Perez of (35.7) and Phoenix’s Matthew Wright (35.65) finishing behind the Tropang Giga.

Vargas said guard Simon Enciso was a revelation in the Philippine Cup, taking charge in certain games including the Finals, while swingman Pogoy was also outstanding for making the SP race with 35.64 average.

The coaching staff, Vargas said, will be untouched.

“We are just moving positively and we are looking for the development of the team,” he said.

TNT could only pick starting in the third round of Rookie Draft in March.

AC MILAN’S Rafael Leão scores six seconds into the match. AP

Fastest goal in Serie A history

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ILAN—Rafael Leão scored the fastest goal in Serie A history on Sunday, netting after just six seconds to set league leader AC Milan on the way to a 2-1 win at Sassuolo.

Alexis Saelemaekers scored Milan’s other goal as the Rossoneri remained a point clear of secondplace Inter Milan, which beat promoted Spezia 2-1.

“Yes, it’s not like we’re brushing our dolls,” said Milan Coach Stefano Pioli, when asked if Milan had prepared the goal in training.

“We prepare ourselves, we study our opponents and we try things to put them in difficulty. Today it went well.”

Roma lost 4-1 at Atalanta and missed the chance to move level on points with third-place Juventus.

Roma remained fourth, a point above Napoli after Gennaro Gattuso’s side lost 2-0 at Lazio.

Milan was missing several top players, with a number of others joining star forward Zlatan Ibrahimović in the treatment room.

The average age of its starting lineup was again under 23 but it got off to the perfect start when Hakan Çalhanoğlu surged forward from kickoff and threaded the ball through to Leão, who fired it into the back of the net.

Statistics supplier Opta said the Portuguese youngster’s goal beat the previous record of eight seconds set by Piacenza’s Paolo Poggi against Fiorentina in 2001.

Milan later tweeted that the 21-year-old Leão’s goal was scored after precisely 6.2 seconds.

Miguel Corp., Go For Gold, Milo, Amelie Hotel Manila, Braska Restaurant and the Philippine Amusement and Gaming Corp., starts at 10:30 a.m.

Powered by Smart and Upstream Media as webcast partner, the public sports program is livestreamed via the PSA Facebook page fb.com/PhilippineSportswritersAssociation and also shared by Radyo Pilipinas 2 Facebook page.