Moody’s think tank: No BSP rate cut soon By Bianca Cuaresma
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@BcuaresmaBM
HE Bangko Sentral ng Pilipinas (BSP) is expected to keep its key rates unchanged in its first monetary-policy meeting in 2021. Moody’s Analytics Chief Asia Pacific Economist Steve Cochrane said the BSP has already cut heavily in 2020 and will likely wait for these cuts to take effect in 2021 before cutting further to support the economy. “ T he Phi l ippines’s Centra l Bank is expected to keep its key policy rate unchanged at 2 percent at its February meeting. The domestic health crisis has worsened since then, as have parameters of consumer and business
activity, but with rate cuts worth 200 basis points and a liquidity injection already delivered, the Central Bank has limited options but to wait for the returns from expansionary monetary policy to materialize in 2021, once local restrictions are fully relaxed,” Cochrane said. The current monetary-policy rate of the country at 2 percent is the lowest on record for the economy. This is after the Central Bank cut its rates by a total of 200 basis points in 2020—25 basis points in February, 50 basis points in March, another 50 basis points in an off-schedule Monetary Board meeting in April, another 50-basis-point cut in June and the latest 25-basis-point cut in November—in an effort to curb
the negative effects of pandemicinduced movement restrictions on the economy. In a separate statement, ING Bank economist Nicholas Antonio Mapa also expressed belief that the BSP will hold policy rates steady in its upcoming meeting on February 11 as inflation recently quickened above their target range in January. “[Bangko Sentral Governor Benjamin] Diokno is currently caught between a rock and a hard place with three options laid out before him. A rate cut would be in-line with his recent directive to bolster economic activity but is counter to his price stability objective,” Mapa said. “On the other hand, a rate hike at a time when economic activity
is floundering would knock out the fledgling recovery while establishing only a token effect on price pressures given the nature of the breach,” he added. At that rate, the BSP is left with leaving current monetary-policy conditions unchanged, especially in their February 11 meeting. “A pause would still provide accommodation for the recovery while not feeding any unneeded inflationary pressure. Thus, at this juncture, keeping policy rates unchanged would allow BSP to provide the economy support for the recovery while at t he sa me t i me sa feg u a rd against any budding demand side pressure, which appears to be negligible at the moment,” Mapa said.
AMID HOLIDAY, GOVT
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Tuesday, February 9, 2021 Vol. 16 No. 121
P25.00 nationwide | 2 sections 18 pages |
PUSHING PORK IMPORTS ANOTHER INFLATION WORRY: FARM-GATE BROILER PRICE RISES By Jasper Emmanuel Y. Arcalas
@jearcalas
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MEAT and chicken vendors go on pork holiday at Paco Market in Manila as the new Executive Order imposing a price ceiling on pork and chicken products in Metro Manila took effect on Monday. The tight supply, and resulting price spikes of pork—traced to the impact of the African swine fever and typhoons in late 2020—have helped drive high-than-expected inflation rate in January, but some economists dispute the wisdom of imposing price ceilings. ROY DOMINGO
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By Samuel P. Medenilla
@sam_medenilla
HE government is now poised to import more pork products to stabilize its price and supply in Metro Manila and other parts of the country.
This despite ongoing efforts by the Department of Agriculture (DA) to tap hog raisers in the Mindanao and Visayas, which remain unaffected by the African swine fever
(ASF), to address the reported supply shortage of pork in the National Capital Region (NCR). In an online interview with PTV on Monday, Agriculture Sec-
retary William Dar said President Duterte already approved in principle their proposal to increase the Minimum Access Volume (MAV) for pork. “We are now just in the process [of studying the proposal] so we will not be criticized that we did not hold any consultations for it,” Dar said. Last week, Malacañang announced Duterte and the Cabinet approved DA’s recommendation to study raising the MAV from 54,000 metric tons to 164,000 MT. The additional imported pork aims to bring down the price of pork below its current average of
P400 per kilogram (kg).
Pork holiday
THE sudden spike in pork prompted the President to issue Executive Order (EO) 124 imposing a price ceiling for kasim/pigue at P270 per kilo and liempo at P300 per kilo, which will be sold in NCR. The price ceiling, which took effect on Monday (February 8), was opposed by some pork retailers, who claimed it will force them to sell at loss. Many retailers resorted to stop selling pork for the duration of the 60-day EO 124. Continued on A2
OW domestic supply has pushed the farm-gate price of broilers to reach a historic-high of P130 per kilogram, something that the United Broiler Raisers Association (Ubra) said is another cause for concern of faster inflation in the coming months. Latest Ubra price survey as of February 5 showed the average price of off-sized broilers now at P120 per kg; while regular-sized ones are quoted at an average of P124.67 per kg. The group’s latest survey also showed that the average farm-gate price of prime-sized broilers is now at P125.06 per kg. The average prices for all three sizes of broiler are about P5 per kg higher compared to the farm-gate prices observed last January 29, based on Ubra data. Ubra President Elias Jose Inciong told the BusinessMirror that the increase in farm-gate prices reflects the all-time high prices of day-old chicks (DOCs) that have breached the P50 per chick level today. The spike in DOCs is a reflection of the reduction in breeders, as raisers adjusted to the anemic demand for chicken meat last year due to government-induced lockdowns against Covid-19. “DOCs are now at P52 per chick. It was just P14 per chick last September and P28 per chick last October,” Inciong said in a phone call. “Indeed this situation is really a cause for concern for higher meat prices.” Inciong described the government’s price ceiling on chicken meat— P160 per kg— as “not realistic” due to rising input prices that include not only DOCs but also feeds.
Inciong warned that broiler raisers may opt to reduce or stop restocking in the coming weeks due to the price ceiling, which is hard for them to comply with. He explained that the break-even cost now for broiler raisers ranges from P92 to P100 per kg, up from the usual P70 to P78 per kg. “Why will you restock? If you restock today and harvest next month you are still covered by the 60-day price ceiling. You cannot do anything with the selling price especially if input costs continue to increase,” he said. Inciong said they have repeatedly told the government about the eventual tightness in chicken meat supply as early as May 2020. He pointed out that it was a“natural market reaction”for raisers and breeders to cut their production due to low demand last year. He said most members of Ubra have been unable to fill the capacity of their farms due to lack of DOCs. “We have warned Agriculture Secretary William Dar back in May and again in June that once the breeders voluntarily culled their stocks, it would result in a big problem and it would be hard to resolve,” Inciong said. Inciong warned that the farm-gate prices of broilers would continue to rise once farms stop their next cycle of loading which results in tighter domestic supply. The Philippine Chamber of Agriculture and Food Inc. (Pcafi) earlier said inflation would accelerate in the coming months as the government is ill-prepared to deal with the country’s food supply problems. (Related story: https://businessmirror. com.ph/2021/02/08/food-supplywoes-to-put-pressure-on-inflation/)
Consolidated House bill lays down clear tax exemptions for vaccines By Jovee Marie N. dela Cruz
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@joveemarie
HE House Committee on Ways and Means on Monday approved a consolidated substitute bill exempting Covid-19 vaccines from duties and value-
added tax. Although the recently ratified proposed Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act already exempts Covid-19 from VAT and from import duties, “there is some room for interpretation on whether the duties
PESO EXCHANGE RATES n US 48.0900
apply to all importers, or only to registered enterprises,” Committee Chairman and Albay Rep. Joey Sarte Salceda said. “That is especially because we were only dealing with duty incentives in that bill. So, we want to make sure vaccines can be im-
ported duty-free and without friction at the ports. That is why we are taking these bills up,” Salceda said. BHW Rep. Angelica Natasha Co, an author of the bill, said public health, public safety, and the economic security require that
all impediments, including cost constraints, to the swift and effective implementation of the vaccination program must be cast aside. “To make all the Covid-19 vaccines affordable and reasonablypriced, [I] propose that all the
vaccines and everything needed in the fight against Covid-19 must be tax-free regardless of country of origin, manufacturer, and whether for the public vaccination program or for private inoculation by a health professional.
n JAPAN 0.4566 n UK 65.9891 n HK 6.2033 n CHINA 7.4369 n SINGAPORE 36.0441 n AUSTRALIA 36.8754 n EU 57.9004 n SAUDI ARABIA 12.8209
Continued on A2
Source: BSP (February 8, 2021)
News
BusinessMirror
A2 Tuesday, February 9, 2021
COMELEC TOLD: EXPAND SATELLITE VOTERS’ LISTING, GET SCANNERS
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HE Commission on Elections was asked Mond ay to ex pand satellite voters’ registration and “buy more biometric fingerprint scanners” to speed up voter’s registration ahead of the 2022 national and local elections. In a statement, Senate Minority Leader Franklin Drilon reminded Comelec that Congress allocated sufficient funds to the poll body under the 2020 and 2021 national budgets, prodding officials to “use it to buy more biometric gadgets, hire more consultants or job order employees and even rent out a bigger space or venue of voter registration.” Drilon added: “Let’s not scr imp on the budget. If there’s a need to bring voters’ registration to ever y barangay, the Comelec must do it.” The opposition senator stressed that “installing satellite voter registration sites is a solution within the law that Comelec should maximize and use efficiently” to increase voters for the 2022 national and local elections. This, even as the Minority Leader acknowledged it was obvious that due to Covid-19 health protocols, Comelec offices throughout the country have to limit the number of registrants they could accommodate in a day. Citing Comelec data, Drilon added there are still 3 million new voters to be registered and 7 million who need to renew their registration because they have not voted in the last two elections. The senator said, “there is no way the Comelec can reach its target number of voters for next year’s election at that rate of 50 to 70 registrants per day, airing concerns that “we are running out of time. Comelec should intensify its efforts to
install more registration sites.” Moreover, the lawmaker lamented that the lack of sufficient biometric scanners further slows down the process, noting there is only one biometric scanner per Comelec office. He added that “even if people go to the Comelec office to register, the Comelec has no capacity to accommodate a large number of applicants per day for a number of reasons,” which include insufficient manpower and few units of biometric scanners. Drilon said the lack of bigger Comelec offices in all districts to accommodate a large number of applicants adds to the problem, suggesting that “the Comelec can organize satellite registration in open courts, churches, schools with safety protocols followed to cover more applicants.” At the same time, the senator suggested that Comelec consider putting more than one satel lite reg istration sites for cities with voting big populations. “They can coordinate with the homeowner’s associations to open their clubhouse or basketball courts for the registration. They can coordinate with the churches to open their doors. The National Secretariat of Social Action had offered to facilitate opening up of the churches,” Drilon said. Drilon further suggested that the poll body “hire more people” to manage the satellite registration all over the country, saying: “Let us hire those IT people who lost their jobs. They know how to operate biometric machines. It can generate income for them for at least three to four months. They can be accompanied by a Comelec civil servant who can supervise the operation.” Butch Fernandez
LGUs not required to set up indemnity fund for vaccinees Continued from A10
Calixto clarified that the city government has long been helping and indemnifying their residents, who might suffer unwanted injuries arising from the local government’s various health and immunization campaigns. She added that they even improved the financial assistance relative to the Covid-19 vaccine campaign by raising the amount from P25,000 to P30,000.
Makati
THE Makati City government,
meanwhile, said Makati residents who may experience adverse effects after the vaccination would be hospitalized for free. Likewise, Mayor Abigail Binay announced that they have procured 42 biomedical refrigerators and laboratory freezers to ensure proper and safe storage of Covid-19 vaccines. The mayor urged Makatizens to take full advantage of the city’s free vaccination because it is scientifically proven to be effective against Covid-19. Related story on page A7.
Tieza eyes completion of 35 ongoing projects By Ma. Stella F. Arnaldo
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@akosistellaBM Special to the BusinessMirror
CTOR Mark T. Lapid was finally elected as chief operating officer of the Tourism Infrastructure and Enterprise Zone Authority (Tieza), during the government corporation’s first board meeting of the year. A BusinessMirror source said, “The election was done on January 11, right after his zoom oath-taking as board member with [Tourism] Secretary Berna [Romulo Puyat].” During the board meeting, the source said, “No new projects were presented...due to the limited travel tax collection. It’s a good thing there are still ongoing projects, because those will also require disbursements as they are constructed/ completed. But money has been set
maintain health systems capacity. Therefore, vaccine priority must be given to health-care workers, senior citizens and those with comorbidities,” they added. They added, “those with high exposure and high risk to Covid and ar-
aside for [these].” Earlier, travel tax collections were estimated to have plunged by 83 percent to P1.2 billion in 2020, owing to the continued international travel restrictions implemented to contain the spread of Covid-19. In 2019, travel tax collection was P7.2 billion. Tieza’s operations are mainly funded from its 50-percent take from travel taxes collected at the various international airports in the country.
Some P2 billion in funds were kept for Tieza’s projects and were not part of the funds turned over for the initial Covid-19 effort of the Duterte administration under Bayanihan 1 last year. But the source said this will likely have decreased “because there were already a number of payments/disbursements as projects were completed.” There are 35 ongoing projects slated to be completed this year, the largest of which is the Boracay Water Drainage Phase II-Package 1A, 3, 4 and 5 on Boracay Island, in Malay, Aklan. Phase I of the two-phase, fourstage Boracay drainage expansion project was completed in 2014 at a cost of P91.8 million. Phase II has a budget of P1 billion. The project has been a thorn in the side of Boracay residents and tourism stakeholders, as the annual monsoon rains usually result in flooding of the main beach road and a number of backroads. It was started by Tieza’s forerunner, the
Philippine Tourism Authority, and has been in a state of construction under several administrations. (See, “Tieza’s Boracay drainage project delayed anew,” in the BusinessMirror, October 22, 2020.) Other major projects slated for completion this year include: the rehabilitation of Club Intramuros and the rehabilitation of the Light and Sound Museum in Intramuros; redevelopment of Mt. Data Lodge in Bauko, Mountain Province and construction of a potable water system in Banaue, Ifugao; the sewerage and waste water facility and boardwalk in Puerto Galera, Oriental Mindoro; rehabilitation of a public restroom and water supply system at Poctoy White Beach in Torrijos, Marinduque; aesthetic lighting of the San Juanico Bridge in Samar and Leyte; rehabilitation and redevelopment of the McArthur Landing and Memorial Shrine and Park in Brgy. Baras, Palo, Leyte; among others.
Davao diversion road has direct N-S bus link
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AVAO CITY—The city’s diversion road is now open to public commuter service, allowing a direct north-south link without passing through the vehicle traffic-infested downtown roads and the main highways. Starting February 4, the Davao Metro Shuttle bus was granted the franchise for its 14 low-floor buses to service this six-lane Carlos P. Garcia highway that served as a freeway for vehicles traversing the north-to-south areas of the city. The buses will observe a schedule of about 20 minutes interval per bus, as mandated under the city’s
high-priority bus system, which started test runs on the Catalunan Grande and Toril routes in 2019 and were expected to go full blast last year. The bus system will eventually replace the jeepneys on the roads in the city. The third route opened for the bus system will observe 24 designated stops along the entire stretch of the 18-kilometer highway, from the junction of the bypass road in Ulas in the south, to the end of the diversion road, at the junction of the Panacan and Sasa highways, and to turn right going to the Sasa Wharf. The designated stops are at the
corner McArthur Highway, near La Vista Monte Subdivision, Matina Pangi intersection, Las Terrazas, GAP Farm, NHA Ma-a, Choice Mart, Crocodile Park, cor. Jade Valley, cor. El Rio, fronting San Ignacio School, Shell (Monclair), Buhangin Gym, San Isidro School, NHA Buhangin, Commission on Audit (COA), Laverna Hills, Camp Catitipan, Airport Layby, Landmark III, Relocation (Juanas Kubo), Panacan Junction, NCCC and MINCOR in Sasa. Mayor Sara Duterte-Carpio said, “transportation and mobility play an important role in communication, trade, tourism and
other forms of exchange between people. As such, there is a need for the public to have access to safe and efficient modes of transportation and travel.” “With the Interim Bus System Project, we hope to bring convenience and ease of transport to the riding public through the deployment of buses in selected areas,” she said. The Metro Shuttle buses are fully air-conditioned with beep card for cashless transaction, said Metro Shuttle Corp. Chief Executive Officer De Carlo “Oyo” L. Uy. Manuel T. Cayon
AMID HOLIDAY, GOVT PUSHING PORK IMPORTS Continued from A1
Presidential spokesman Harry Roque appealed to the retailers to reconsider their “pork holiday” and continue selling pork despite the prevailing price ceiling. He noted the DA is already implementing programs to ensure they will be supplied with affordable pork from Visayas and Mindanao. The Associated Labor Union (ALU) issued the same call, stating that the price ceiling is necessary for workers and other consumers to continue to afford basic goods
HPAAC flags private purchases of vaccines. . . Continued from A10
The group also cited the World Health Organization (WHO) warning that the global supply of vaccines is limited. Hence, there is a need to prioritize. “Vaccination programs must be aimed to reduce mortality and
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eas mostly affected by the virus must be first in line to get the vaccine.” “Herd immunity can be most efficiently achieved if the prioritization list is followed. This priority agenda is based on science and will result in achieving protection for the entire community in the most efficient manner,” the group explained. HPAAC also advised the public to refrain from paying for these vaccines and report such offers to the FDA, as these transactions are “in direct violation of current vaccine protocols and must be stopped.” Claudeth Mocon-Ciriaco
during the pandemic. “We hope they will cooperate [with the price freeze] and not just think about their profits especially during the pandemic, when so many workers lost their jobs and their wage remain low,” ALU spokesman Alan Tanjusay said.
Transport subsidy, loans
TO bring affordable pork to NCR, Dar said they started implementing their transport subsidy for hog raisers who will send their live hogs based on the recommended farmgate price of the government, which is between P165 and P171.
Under the scheme, Dar said they provide the following subsidies to be sold in NCR: P21 per kilo from those in Mindanao; P144 per kilo from those in Visayas, Bicol region and Mimaropa; and P10 per kilo from those in Calabarzon and other parts of Luzon. They secured a commitment from the Southern Cotabato Swine Producers Association to send 10,000 live hogs per week to NCR, Dar said. Besides the transportation subsidy, the government, Dar added, is providing concessional loans for hog raisers affected by the ASF, so
they could repopulate their farms. The Land Bank of the Philippines (LBP) allocated P15 billion and the Development Bank of the Philippines (DBP), P12 billion, for commercial hog raisers for this purpose. For backyard hog raisers, Dar said about a billion pesos is available to provide them loans to repopulate their farms. To qualify for the loan, backyard hog raisers need only to cluster themselves so the authorities and the raisers could effectively implement biosecurity measures.
Consolidated House bill lays down clear tax exemptions for vaccines. . . Continued from A1
Tax-free means not just zero import duties and administrative fees but also zero VAT, other sales taxes, other business taxes, and local taxes,” she said. “The national treasury, BIR [Bureau of Internal Revenue], Customs Bureau, and local governments need not gain financially from the importation and distribution of the Covid-19 vaccines because the country’s immediate gain is the further reopening of the economy and onwards to the new normal with the coronavirus still a lingering threat,” she added. Meanwhile, Salceda said his committee will consolidate five pending bills seeking to grant tax exemptions to vaccines not
only for the current Covid-19 pandemic but everytime the need arises in response to public health emergency situations. “We will consolidate these [five] bills. Let me be clear: the number one economic priority of the country must be fast, efficient, and safe delivery of vaccines. At this point, very little else matters. That is why we are prioritizing removing these friction costs,” Salceda said. “One day saved from the tax refund system, and one day of not having to deal with customs procedures is worth billions in economic output. As President Duterte said, when he cited a figure I calculated, we are losing some P20 billion in economic output due to delays in vaccination. So, the
revenue impact of these bills matters very little to me, in view of their overwhelming economic importance,” Salceda added. According to Salceda, the underlying economic principle that every country must bear in mind now is simple—”no vaccine, no normal life.” Earlier last year, Salceda said that all economic policy during this pandemic must be geared towards being a bridge to a Covid-19 vaccine. “The problem was not cyclical, unlike most crises. It was health-driven. If people are assured of their health, they will go out. That still holds now, that is why we need to pass measures that ease vaccination,” Salceda said.
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Solon to law enforcers: Hit hard on illegal vaccine traders
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ITH the expected delivery of the first batch of Covid-19 vaccines this month, the House deputy speaker for trade and industry on Monday urged law-enforcement agencies to intensify the crackdown against unregistered Covid-19 vaccines proliferating in the online market. Deputy Speaker Wes Gatchalian the statement following the warning of the Food and Drug Administration (FDA) to the public against buying and using unregistered Covid-19 vaccines being sold online. The FDA has warned the public to take extreme caution on the purchase and use of vaccines sold locally or online claiming to be safe and effective in preventing Covid-19. “We are anticipating that with the arrival of the Covid-19 vaccines in the country, there will also be an influx of unscrupulous individuals selling unregistered, or worse, fake vaccines,” Gatchalian said. “We call on all cybercrime agencies of the government to be on the lookout for illegal and unregistered Covid-19 vaccines and pool their resources to apprehend opportunists who prey on the public,” he added. To date, only Pfizer-BioNTech and AstraZeneca Covid-19 vaccines have been issued emergency use authorizations (EUAs) by the FDA. The government has allocated P75 billion for the procurement of Covid-19 vaccine for some 53 million Filipinos. Another 13 million Filipinos are set to be inoculated by vaccines procured by local government units and the private sector. The Valenzuela lawmaker also said that is not just the money of consumers that is at stake, but also their very lives. “The medicines that have not been pre-approved by the FDA may be highly harmful to the health of our consumers. I urge our kababayans to report any suspicious claims or advertisement claiming to be a vaccine for Covid-19,” he said. “Although these are indeed trying times, it is the height of insensitivity to take advantage of the need of our public,” he added.
IATF to tackle plea to raise number of participants in Church activities By Joel R. San Juan @jrsanjuan1573
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HE Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATFMEID) may tackle the plea of Catholic Church officials to further increase capacity for religious events. Justice Secretary Menardo Guevarra said the IATF-MEID “may in-
clude the request of the bishops for a higher limit” in their meeting scheduled either Tuesday or Thursday. Guevarra, however, noted that Church leaders have yet to make any formal request. “The IATF has not received any formal request from any religious group,” the DOJ chief said. The call of the Church leaders to increase the capacity of people in
religious events came just almost a week before the observance of Ash Wednesday and the country’s commemoration of the 500 years of Christianity in the Philippines. It was reported that Catholic Church officials are asking the government to expand the allowed capacity for religious activities after the OCTA Research Group said that the holiday season and the Feast of
To complement their pumping capability, each fire truck has Class A Type water pumps that can deliver “waterous” supply of water or foam from 100 percent rated capacity at 150 psi net pump pressure, to 50 percent of rated capacity at 250 psi net pump pressure. The new fire engines that arrived from the United States last December 28 meet and comply with international standards set by the National Fire Protection Associa-
SBMA Chairman and Administrator Wilma T. Eisma (right) and other SBMA officials inspect firefighting tools that were bundled with the new Pierce fire trucks By Henry Empeño Correspondent
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UBIC BAY FREEPORT—The Subic Bay Metropolitan Authority (SBMA) has acquired top-of-the-line Pierce fire trucks to augment the firefighting capability of its fire department. SBMA Chairman and Administrator Wilma T. Eisma said the new acquisitions consisted of three pumper trucks bundled with various firefighting equipment, as well as self-contained breathing apparatus, HAZMAT suits, and repair kits for all types of gas leaks.
The brand-new fire trucks were imported directly from Pierce Manufacturing, the Wisconsin, US-based manufacturer of custom fire and rescue apparatus, which is recognized as the largest producer of firefighting apparatus in the world. The custom-built structuralindustrial pumper trucks operate on digital technology and is reportedly the first of its kind in the Philippines. Eisma said the procurement of new fire engines for the SBMA Fire Department indicated how serious the SBMA is in keeping people and investments safe in Subic.
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“This is our legacy; this is something we need to do for Subic, especially now in these times of a pandemic,” Eisma stressed here on Friday during the blessing of the new equipment. “We would like to showcase Subic as a safe haven for tourists, as a safe haven for investments, and now as a haven safe from fire,” she added. SBMA Fire Chief Ranny Magno said each truck has a capacity of 1,000 gallons (3,785 liters) of water and 60 gallons (227 liters) of foam, and runs with Cummins ISL9 engine at the top speed of 96 kilometers per hour.
We anticipated our revenues to decrease due to the pandemic. BI Commissioner Jaime Morente
Morente also attributed the agency’s low revenue in 2020 to the sus-
BM
pension of transactions in the bureau for two months after the government
declared a lockdown in March last year. The BI chief, however, expressed optimism that its revenue would bounce back and gradually increase as the country awaits the arrival of the Covid-19 vaccine and once international travel restrictions are gradually lifted. For her part, BI Finance Chief Judith Ferrera, said the bureau was poised to post another record high income in 2020 if the pandemic did not occur. She noted that the agency started the year on a very positive note as its revenue collections in January and February amounted to P1.8 billion. Joel R. San Juan
UMRBPL not for cattle grazing, solar farming, DENR exec says
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HE Upper Marikina River Basin Protected Landscape (UMRBPL) may require massive scale of rehabilitation and tree planting to restore it back to health, an official of the Department of Environment and Natural Resources (DENR) said. This was according to Nonito Tamayo, DENR’s regional executive director for the Calabarzon, who rejected suggestions to allow cattle grazing in the UMRBPL. The official said any activity within the UMRBPL must be approved by the DENR, or at least the Protected
the Black Nazarene celebration last January 9 did not cause any spike in the number of Covid-19 cases in the National Capital Region (NCR). At present, public religious worship is allowed up to 50 percent of venue capacity in modified general community quarantine (MGCQ) areas and 30 percent in general community quarantine areas like in the NCR. The justice chief earlier said the
findings of the OCTA could have “persuasive effects” on the IATF-MEID policies “if it could be shown to have a sound empirical basis.” “Of course the government’s own data will be controlling [bases] most of the time,” he stressed. He also admitted that allowing more people to take part in religious gatherings has been a contentious issue among the IATF-MEID members.
SBMA acquires 3 top-of-the-line Pierce fire trucks from Wisconsin
BI’s revenue earnings drop 36.1 percent to ₧5.9B in ’20 HE Bureau of Immigration (BI) on Monday reported that its revenues dropped by 36.1 percent in 2020 due to the Covid-19 pandemic, which disrupted travel in and out of the country for several months. From the record high income of P9.3 billion in 2019, BI Commissioner Jaime Morente lamented that last year’s revenue reached nearly P5.9 billion. “We anticipated our revenues to decrease due to the pandemic,” said Morente. “With more foreign nationals going out of the country than going in, we were able to collect less revenue from visa applications,” Morente explained.
Editor: Vittorio V. Vitug • Tuesday, February 9, 2021 A3
Area Management Board (PAMB). The UMRBPL’s comprehensive management plan includes reforestation and stream-bank stabilization and rehabilitation, implementation of social, economics, livelihood and institutional arrangements; flooding and erosion control projects; water quality management and sanitation, public information, and awareness campaigns, and capacity building activities in partnership with various agencies of the government, the private sector, local governments, and other institutions. “When you use the area for cattle
grazing, what will you plant? Naturally grass. But what we want to do is plant more trees in the area,” he said, backing efforts to reforest denuded portions of the UMRBPL. Tamayo, who sits as chairman of the UMRBPL’s PAMB, rejected earlier plan of Rublou Inc. to raise cattle within the Protected Landscape. He also cautioned Rublou Inc.’s subsidiary, Green Atom, on its plan to put up a solar farm atop the mountain, saying like cattle grazing, such a project runs contrary to the objective of greening the open, degraded and denuded
portions of the forest. He said putting up solar panels in the area to harness the power of the sun may even trigger cutting of small trees in the area. “As far as I know, only hydropower is the only renewable energy project allowed in a Protected Area,” said Tamayo, a forester and former director of the DENR’s Forest Management Bureau. Officials of Rublou Inc. and Green Atom recently figured in a territorial dispute with conservation advocates running the award-winning Masungi Georeserve. Jonathan L. Mayuga
tion (NFPA), Magno added. Magno noted that to this day, only the SBMA Fire Department has this kind of custom-built structural/industrial fire truck in the country, a big boost to a firefighting unit that also assists in firefighting operations in communities around the Subic Bay Freeport. “These would make our job easier and allow us to respond more efficiently and effectively 24/7,” Magno added.
Economy BusinessMirror
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Tuesday, February 9, 2021 • Editor: Vittorio V. Vitug
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DTI chief: Implementation of CREATE tax law expected to generate 2-M jobs By Elijah Felice E. Rosales @alyasjah
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HE Department of Trade and Industry (DTI) is banking on the new tax law to generate 2 million jobs at a time roughly 4 million Filipinos were left unemployed by the Covid-19 pandemic. In a news statement issued on Monday, Trade Secretary Ramon M. Lopez said the government is pinning its hopes of a job rebound on the implementation of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act. He argued the measure would encourage multinationals to locate in the Philippines, and their
investments should, in turn, create employment opportunities. “The landmark tax and incentives reform bill that we expect to be signed by the President is expected to bring in massive inflow of investments that will create more jobs, especially as we focus efforts in the national employment recovery during this period of the pandemic and beyond,” Lopez said. The trade chief added the CREATE Act is seen to remove the business uncertainties in the country that would allow investors to carry out their expansion plans stalled by the deliberations of the measure. Policy-makers estimate the CREATE Act can add up to 2 million jobs once signed into law.
“Based on our estimate and those from Cong. Joey Salceda, CREATE can bring in over P200 billion of new investments that can generate 1.4 million to 2 million incremental jobs,” the trade chief disclosed. The CREATE Act brings down corporate income tax (CIT) charged on firms to 25 percent, from 30 percent, the highest rate among Southeast Asian nations. Further, CIT paid by firms earning below P5 million yearly was pegged at 20 percent. The measure also introduces new fiscal incentives to replace those enjoyed by investors now, and institutes deductions on operational costs depending on the preference of the firm.
“The bill will certainly encourage more investments with the lowering of the corporate income taxes rate from 30 percent to 20 percent for MSMEs and 25 percent for large corporations. Modernizing the incentives system likewise makes the incentives such as income tax holiday, special corporate income tax rates or enhanced deductions, available to industries considered strategic, critical or export oriented,” Lopez said. Under the CREATE Act, new investments will be granted with up to seven years of tax break, and investors can apply for five years of extension for incentives based on the industry they belong to.
House leaders urged to prioritize ‘pandemic bills,’ set aside Cha-cha By Jovee Marie N. Dela Cruz @joveemarie
M
EMBERS of the independent majority bloc on Monday urged the leadership of the House of Representatives to approve bills that will immediately provide assistance to Filipinos amid the Covid-19 pandemic. Former Speaker Alan Peter Cayetano and Camarines Sur Rep. Luis Raymund Villafuerte issued separate statements following the filing of the proposed Bayanihan to Arise As One Act (Bayanihan 3) and the next week plenary deliberations of Charter-change proposal. “Many of our countrymen are already suffering and they cannot wait while the bill [Bayanihan 3] is being debated upon,” said Cayetano. Cayetano said the Bayanihan 3 being forwarded by his fellow lawmakers in Congress might not be approved in time to help those who need it the most. “I have always believed that the Filipino family deserves the best, and this [Bayanihan 3] is a step in that direction. But the reality is, it might not come soon enough for those who are struggling to make ends meet now,” Cayetano said. Speaker Lord Allan Velasco and Marikina City Second District Rep. Stella Luz Quimbo had filed House Bill (HB) 8628 on February 4 to provide a P420billion fund to help the country recover from the economic ravages of the Covid-19 pandemic.
Many of our countrymen are already suffering and they cannot wait while the bill [Bayanihan 3] is being debated upon.
BM
Former Speaker Alan Peter Cayetano
But Cayetano noted that while several such proposals have been filed both in the House and in the Senate, the country’s economic managers and the Executive department “still have a few concerns and objections about the package, especially on its fiscal impact.” He said the proposed bill would also have to face a long series of discussions in the House. Instead, Cayetano urged his fellow lawmakers to tackle House Bill 8597, or the proposed Bangon Pamilyang Pilipino (BPP) Assistance Program, which would provide P10,000 cash assistance per family. The bill, which Cayetano and his allies filed on February 1, aims to provide the beneficiaries with additional assistance amid the effects of the pandemic, the economic setbacks, and the hardships brought by the previous year.
Put off
MEANWHILE, Villafuerte said the apparent hesitation among many Filipinos to get inoculated against Covid-19, as reflected in opinion surveys and even admitted by key government officials, proves that the time and energy to be wasted on the planned plenary debates about Charter change should be spent instead on helping the government carry out a nationwide public information drive to persuade adults to take part in the upcoming mass vaccination program. Villafuerte said proponents of the move in the House to amend the Constitution, which is set to be discussed in the plenary next week, should realize their misplaced priorities and focus instead on helping educate their respective constituents on the need to get immunized against the deadly virus. He said a nationwide information campaign is needed at this point to send
the message across to the people that vaccines are safe, would protect us from the highly contagious coronavirus and let us fully reopen the economy, which, in turn, would lead to a quick recovery from the global economic chaos Covid-19 unleashed last year. “Why don’t they ask local officials if they still have time to tell people about Cha-cha while they are too busy with measures to contain the spread of Covid-19 in their communities and convincing people to get vaccinated to fight the disease?” Villafuerte said. The CamSur lawmaker recalled that a former fellow congressman, Navotas City Mayor Toby Tiangco, was quoted in news reports as saying that local government executives do not have the time to even talk or think about Cha-cha, much less promote it among their constituents as they have their hands full in dealing with the Covid-19 pandemic. Villafuerte said Cha-cha would only polarize the country at this point when national unity in fighting Covid-19 is of paramount importance, as shown by the opposition to Cha-cha by 10 business groups led by the Makati Business Club (MBC) and the Philippine Chamber of Commerce and Industry (PCCI) during the public hearings of the House constitutional amendments committee on the issue. He said legislators should also work with the Executive department in crafting or passing economic stimulus measures to further energize growth and speed up economic recovery.
Without teamwork–no progress in future we can all learn:
By Henry J. Schumacher
I
WAS recently reading two articles with great interest, on how millennials are sparking work changes; and how empathy has become interwoven as a “skill” in the workplace. I am glad to see the growing focus on the “Future of Work” and how we prepare for the business take-off in 2021.
Today, I would like to cover three areas in the Future of Work,” hoping that we will start a dialogue so that
Topic 1—Generations in the work force of the future We are increasingly faced with the fact that at least 3 generations are facing each other in companies today: the baby boomers, the millennials and the centennials. What issues do we have to deal with? The young ones want to become the biggest asset of your company In dealing with them, we have to be brave and think out of the box We have to find ways to dream jointly, inspire a team, be different, accept work changes, take risks and lead change As baby boomers we have no choice to embrace the millennials and centennials. You agree? Topic 2—Move over millennials, here come the centennials Many companies complain about unrealistic expectations of millennial workers and that millennials are sometimes difficult to manage and likely to quit at a moment’s notice. As mentioned above, we have to realize that millennials want work changes; if these changes are not allowed, they will take the consequences… Generation Z—born into the Age of Information, are not only digital
natives; they are a generation born into a flux of very fast technological advancement, heightened digital consumption, and hyper connectivity Centennials believe that the things that they own reflect the kind of people they want to be and the ideal world they want to create; as such they expect brands to be aligned with their personal values before they want to be employed and invest their time and creativity in the brands’ products and services development We need the right combination of high-tech and high-touch in human relations to attract and keep the right people; sustainable products and services and integrity and ethics are high on their agenda. And as indicated above, empathy is the skill of the future, needed in growing an innovation mindset in an organization as it helps business leaders to come up with better solutions. You agree? Topic 3: Is there a middle ground between employment and entrepreneurship? How can internal entrepreneurship ensure business growth momentum? Intrapreneurship is a very good way to encourage entrepreneurship inside the organization, but leaders
have to be courageous Creativity is not a product; we need somebody to take the creation and make it into a product Promoting entrepreneurship will advance the goal of sustainability but it has to be a collective effort Business leaders should help their teams develop an innovation mindset, understanding clearly that we all have to reframe challenges into opportunities You agree? If you do, let’s complicate matters a bit: Topic 3b—Navigating the GIG economy Companies are starting to embrace the new work setup and are employing freelancers for certain projects or tasks It is important for organizations to strike a balance between keeping a regular set of full-time employees and hiring remote experts as consultants for specific tasks and specific times, as we are living in a volatile, complex and ambiguous world Most freelancers want to become “solopreneurs”! You still agree? I sincerely hope for plenty of feedback so that we can all learn as we move forward; contact me at hjschumacher59@ gmail.com
BusinessMirror
www.businessmirror.com.ph
ESTABLISHMENT / ADDRESS
ESTABLISHMENT / ADDRESS NO.
FOREIGN NATIONAL / NATIONALITY
POSITION
24/7 BUSINESS PROCESSING INC. 11/f Capella Bldg. L-3&4 B2, Asian Drive Filinvest Alabang Muntinlupa City 1.
2.
3.
HUANG, HAITAO Chinese
MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE
JU, XUECHAO Chinese
MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE
SHI, WEI Chinese
MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE
4.
WANG, CHEN Chinese
MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE
5.
ZHU, HAO Chinese
MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE
8 STONE BUSINESS OUTSOURCING OPC 5/f To 10/f, Tower 4 Pitx #01 Kennedy Road Tambo Parañaque City
NO.
27.
FOREIGN NATIONAL / NATIONALITY CHEN, YANJU Chinese
Tuesday, February 9, 2021
ESTABLISHMENT / ADDRESS POSITION
NO.
IT TECHNICAL MANDARIN
FLYING DRAGON NETWORK PHILIPPINES INC. 4th-11th Floor Aseana 3 Building Aseana Avenue Corner Diosdado Macapagal Tambo Parañaque City
ESTABLISHMENT / ADDRESS
FOREIGN NATIONAL / NATIONALITY
POSITION
NO.
61.
YUE, YIYANG Chinese
CHINESE IT SUPPORT SPECIALIST
94.
JI, JINHUAI Chinese
CHINESE CUSTOMER SERVICE
62.
ZHENG, LEI Chinese
CHINESE IT SUPPORT SPECIALIST
95.
LE, ZHIQIANG Chinese
CHINESE CUSTOMER SERVICE
CHEN, MEIYING Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
63.
ZHENG, WENBIN Chinese
CHINESE IT SUPPORT SPECIALIST
96.
YANG, JUNLI Chinese
CHINESE CUSTOMER SERVICE
29.
DENG, BAOMING Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
64.
ZHUANG, JIAXIN Chinese
CHINESE IT SUPPORT SPECIALIST
97.
YANG, PENGJIE Chinese
CHINESE CUSTOMER SERVICE
30.
LI, CHANGSHUAI Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
65.
TRAN DINH CUONG Vietnamese
IT SUPPORT SPECIALIST
98.
HE, YUHANG Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
31.
LIN, JIAN Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
99.
LIU, XIAOCHEN Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
32.
LIU, YUANHAO Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
66.
DINH THI CAM THO Vietnamese
CUSTOMER SERVICE REPRESENTATIVE
100.
LU, WENXUAN Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
33.
WANG, JUN Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
67.
TRUONG THI THANH THUY Vietnamese
CUSTOMER SERVICE REPRESENTATIVE
101.
SHI, SHUHAO Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
YANG, JIE Chinese
CUSTOMER SERVICE REPRESENTATIVE
102.
WANG, CHENG Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
103.
KHAING KHAING THIN Myanmari
MYANMARI CUSTOMER SERVICE REPRESENTATIVE
104.
LIU, CHIH-WEI Taiwanese
TAIWANESE CUSTOMER SERVICE REPRESENTATIVE
105.
LIEU THI NHUNG Vietnamese
VIETNAMESE CUSTOMER SERVICE REPRESENTATIVE
JINDINGYUAN BUSINESS SUPPORT, INC. 3-9/f Filinvest Cyberzone Bldg. A, Bay City Brgy. 076 Pasay City
LY CHANH BAU Vietnamese
MANDARIN CUSTOMER SERVICE REPRESENTATIVE
34.
XU, BAORI Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
68.
7.
WANG, MING Chinese
MANDARIN CUSTOMER SERVICE REPRESENTATIVE
35.
ZHAO, CHAOXI Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
MAKLOOK CORPORATION Unit 1004 One Corporate Center Julia Vargas Ave. Cor. Meralco Ave. San Antonio Pasig City
8.
XIAO, LIANG Chinese
MANDARIN CUSTOMER SERVICE REPRESENTATIVE
9.
INOUE, SHODAI Japanese
10. 11.
DUONG THE LOI Vietnamese
CHINESE CUSTOMER SERVICE
NGUYEN THI HUYEN Vietnamese
CHINESE CUSTOMER SERVICE
BEST RELIABLE RESOURCES CORP. Ub 111 Paseo De Roxas Bldg. Paseo De Roxas San Lorenzo Makati City 12.
YURMAN, RAQUEL Israeli
13. 14.
ZHANG, LEI Chinese
36.
37.
38.
CAPSLOCK INC. 7th & 8th Flr. Y Tower Bldg. Coral Way Drive Cor. Macapagal Brgy. 076 Pasay City
22.
CHINESE SPEAKING ADMIN ASSOCIATE
DIGISPARK TECH CORP. Unit 1618 High Street, South Corporate Plaza, Tower 2 26th St. Corner 9th Ave. Bgc Fort Bonifacio Taguig City 23. 24.
WANG, YIQING Chinese
MARKETING SUPERVISOR
YIN, QINGFANG Chinese
TECHNICAL SUPPORT SPECIALIST
DYNA BINARY HOLDINGS INC. 18/f Tower 2 The Enterprise Center, 6766 Ayala Ave., Cor. Paseo De Roxas San Lorenzo Makati City
108.
BIAN, ZIYING Chinese
CHINESE CUSTOMER SERVICE
109.
CAI, FUMING Chinese
CHINESE CUSTOMER SERVICE
PROJECT CONSULTANT
75.
CHEN, WENJIN Chinese
MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER
110.
CAI, HAOJIE Chinese
CHINESE CUSTOMER SERVICE
42.
SU, XINGNAN Chinese
PROJECT CONSULTANT
76.
GU, PAN Chinese
111.
CAI, JIANWEN Chinese
CHINESE CUSTOMER SERVICE
43.
CHEN, SHIGANG Chinese
QUALITY ASSURANCE(QA)/ QUALITY CONTROL(QC) ADVISER
MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER
112.
CAI, RONG Chinese
CHINESE CUSTOMER SERVICE
JI, JUNQIANG Chinese
MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER
113.
CHINESE CUSTOMER SERVICE
78.
LI, RUI Chinese
MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER
CAO, JUNHENG Chinese
114.
CAO, NIANJUN Chinese
CHINESE CUSTOMER SERVICE
79.
LI, MINJUN Chinese
MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER
115.
CAO, LIANG Chinese
CHINESE CUSTOMER SERVICE
80.
LI, HAO Chinese
MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER
116.
CAO, YANYU Chinese
CHINESE CUSTOMER SERVICE
81.
LIU, YUQING Chinese
MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER
117.
CHEN, KUI Chinese
CHINESE CUSTOMER SERVICE
LIU, GUOLIANG Chinese
MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER
118.
CHEN, ZHENGUO Chinese
CHINESE CUSTOMER SERVICE
119.
CHEN, XIAOQIN Chinese
CHINESE CUSTOMER SERVICE
NING, PAN Chinese
MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER
120.
CHINESE CUSTOMER SERVICE
84.
TANG, JIANJUN Chinese
MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER
CHEN, WEITIAN Chinese
121.
CHEN, MING Chinese
CHINESE CUSTOMER SERVICE
85.
WANG, BO Chinese
MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER
122.
CHEN, JIE Chinese
CHINESE CUSTOMER SERVICE
86.
YANG, GUOJIE Chinese
MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER
123.
CHEN, CHAOXI Chinese
CHINESE CUSTOMER SERVICE
87.
ZHANG, SONG Chinese
MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER
124.
CHEN, JIE Chinese
CHINESE CUSTOMER SERVICE
125.
CHEN, JIE Chinese
CHINESE CUSTOMER SERVICE
ZHAO, GUANGYIN Chinese
MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER
126.
CHINESE CUSTOMER SERVICE
89.
ZHONG, ZHENG Chinese
MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER
CHEN, YIKUN Chinese
127.
CHEN, JINYUAN Chinese
CHINESE CUSTOMER SERVICE
ZHOU, WANDA Chinese
MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER
128.
CHEN, FAGANG Chinese
CHINESE CUSTOMER SERVICE
129.
CHEN, ZHITAO Chinese
CHINESE CUSTOMER SERVICE
IDNPLAY CORPORATION 8/f Burgundy Corporate Tower 252 Sen. Gil J.puyat Ave. Pio Del Pilar Makati City 44.
NG MIN LE Malaysian
MALAY-SPEAKING CUSTOMER SERVICE
INVECH TREASURE PROCESSING CORPORATION 2nd, 3rd, 4th, 5th Floor Six West Campus Mckinley West Fort Bonifacio Taguig City WEI, ZHIQIANG Chinese LIU, APENG Chinese
47.
50.
QA (QUALITY ASSURANCE) SPECIALIST
51.
CAO, KAIHUI Chinese
CHINESE IT SUPPORT SPECIALIST
CHEN, JUNLIN Chinese
CHINESE IT SUPPORT SPECIALIST
CHEN, MING Chinese
CHINESE IT SUPPORT SPECIALIST
DENG, FEI Chinese
CHINESE IT SUPPORT SPECIALIST
DENG, WENYI Chinese
77.
INFORMATION SECURITY ANALYST
ITECHNO SPECIALIST INC. 9/f 100 West Building Sen. Gil Puyat Ave. Pio Del Pilar Makati City
49.
CONSULTING SUPERIORS INC. Unit No. 2c, Flr. No. 4/f, One E-com Center Bldg. Ocean Drive Mall Of Asia Complex St. Zone 10, Barangay 076, District 1 Pasay City
CHINESE CUSTOMER SERVICE
GAO, JIANBO Chinese
48.
ADVISOR I, TECHNICAL SUPPORT
BAI, JINGRUI Chinese
41.
46.
GARCIA MENDOZA, MANUEL ENRIQUE Salvadoran
107.
MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER
CHINESE IT SUPPORT SPECIALIST
ADVISOR I, CUSTOMER CARE
MEGA-WEB TECHNOLOGIES INC. 6,7,8,9,10,11/f Met Live Bldg. Edsa Cor. Macapagal Blvd. Brgy. 076 Pasay City
NEW ORIENTAL CLUB88 CORPORATION 1331 Pearl Plaza Bldg. Quirino Ave. Tambo Parañaque City
CHEN, FUCAI Chinese
WANG, ZENGCHENG Chinese
ROBAINA ALLO, RONNY ALEXANDER Uruguayan
72.
TECHNICAL SERVICES CONSULTANT
74.
45.
CAO, XIAOFENG Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
DELLER, NOEL RUSSELL New Zealander
CHINESE FINANCIAL CONTROLLER
CHINESE IT SUPPORT SPECIALIST
21.
XIANG, JINWEN Chinese
106.
HE, QINGKE Chinese
LI, CHEN Chinese
20.
CUSTOMER SERVICE REPRESENTATIVE
71.
40.
17.
CONCENTRIX CVG PHILIPPINES, INC. 25/f Ayala North Exchange Tower 2, 6796 Ayala Ave. Cor. Salcedo & Amorsolo Streets Makati City
SAELEE, WALIKA Thai
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
BAI, LIANG Chinese
CHINESE IT SUPPORT SPECIALIST
CHINESE IT SUPPORT SPECIALIST
CUSTOMER SERVICE REPRESENTATIVE
PANG, CHAOMING Chinese
MONARK EQUIPMENT CORPORATION OF THE PHILIPPINES 13 Calle Economia Bagumbayan 3 Quezon City
73.
LI, HUISHAN Chinese
WANG, QIANG Chinese
RIAN, AHSAN UL HAQ Bangladeshi
70.
ASSISTANT PROJECT MANAGER
16.
19.
CUSTOMER SERVICE REPRESENTATIVE
HE, YUXUE Chinese
CHINESE IT SUPPORT SPECIALIST
18.
LIMON, MD HASIBUZZAMAN Bangladeshi
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
39.
CHEN, ZHIQI Chinese
15.
CUSTOMER SERVICE REPRESENTATIVE
MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER
MANDARIN CUSTOMER SERVICE MANDARIN CUSTOMER SERVICE
69.
AHAMED, MD KAISER Bangladeshi
LIAO, LIANGJUN Chinese
HAMMERTIME CONSTRUCTION INC. Unit 203-s3 2nd Flr. Fbr Arcade Bldg. #317 Katipunan Ave. Loyola Heights 3 Quezon City
GENERAL MANAGER
BIG EMPEROR TECHNOLOGY CORP. 5f-13f, Jiaxing Tower Building Aseana Avenue, Aseana Business Park Tambo Parañaque City YUAN, YUAN Chinese
GLOBALLGA BUSINESS PROCESS OUTSOURCING Ground Level, Level 2-5 Floor Silver City 4, Ortigas East Ugong Pasig City
SECURITY ANALYST
ANOC99 CORPORATION 5/f Ayala Malls Manila Bay Building D. Macapagal Blvd. Cor. Aseana Street Tambo Parañaque City
POSITION
28.
6.
ACCENTURE, INC. 7f Robinsons Cybergate Tower 1 Pioneer St Mandaluyong City
FOREIGN NATIONAL / NATIONALITY
CHINESE IT SUPPORT SPECIALIST
82.
83.
52.
HUANG, DAN Chinese
CHINESE IT SUPPORT SPECIALIST
53.
JIANG, JUN Chinese
CHINESE IT SUPPORT SPECIALIST
54.
LIU, BO Chinese
CHINESE IT SUPPORT SPECIALIST
55.
LIU, MING Chinese
CHINESE IT SUPPORT SPECIALIST
56.
QU, MENGTING Chinese
CHINESE IT SUPPORT SPECIALIST
90.
57.
SHI, XUXIN Chinese
CHINESE IT SUPPORT SPECIALIST
MOA CLOUDZONE CORP. 4th-11th Flr. Nexgen Tower C4 Rd. Edsa Ext. Brgy. 076 Pasay City
88.
25.
CHANG, YONG-YI Taiwanese
CHINESE SPEAKING ADMIN ASSOCIATE
58.
TANG, JIAWEN Chinese
CHINESE IT SUPPORT SPECIALIST
91.
CHEN, BINGYING Chinese
CHINESE CUSTOMER SERVICE
130.
CHEN, MEIZHEN Chinese
CHINESE CUSTOMER SERVICE
26.
LIN, ZHENZHEN Chinese
CHINESE SPEAKING ADMIN ASSOCIATE
59.
WANG, SHUANG Chinese
CHINESE IT SUPPORT SPECIALIST
92.
FENG, FENGFENG Chinese
CHINESE CUSTOMER SERVICE
131.
CHEN, GUANGJUN Chinese
CHINESE CUSTOMER SERVICE
60.
XU, MINGLIANG Chinese
CHINESE IT SUPPORT SPECIALIST
93.
FENG, XIN Chinese
CHINESE CUSTOMER SERVICE
132.
CHEN, HUI Chinese
CHINESE CUSTOMER SERVICE
FIRST GREAT COMPUTER TECHNOLOGIES INC. Lot 5 Sta. Agueda Cor. Queensway Pagcor Drive Sto. Niño Parañaque City
A5
BusinessMirror
A6 Tuesday, February 9, 2021 ESTABLISHMENT / ADDRESS NO.
FOREIGN NATIONAL / NATIONALITY
ESTABLISHMENT / ADDRESS POSITION
NO.
FOREIGN NATIONAL / NATIONALITY
www.businessmirror.com.ph
ESTABLISHMENT / ADDRESS POSITION
NO.
FOREIGN NATIONAL / NATIONALITY
ESTABLISHMENT / ADDRESS POSITION
NO.
FOREIGN NATIONAL / NATIONALITY
POSITION
133.
CHEN, YONGLIANG Chinese
CHINESE CUSTOMER SERVICE
190.
LI, PEI Chinese
CHINESE CUSTOMER SERVICE
247.
TAN, JUN Chinese
CHINESE CUSTOMER SERVICE
304.
YANG, CHEN Chinese
CHINESE CUSTOMER SERVICE
134.
CHENG, WEI Chinese
CHINESE CUSTOMER SERVICE
191.
LI, JIANGHUI Chinese
CHINESE CUSTOMER SERVICE
248.
TAN, ZIHU Chinese
CHINESE CUSTOMER SERVICE
305.
YANG, JIANBING Chinese
CHINESE CUSTOMER SERVICE
135.
CHENG, YI Chinese
CHINESE CUSTOMER SERVICE
192.
LI, SHITAO Chinese
CHINESE CUSTOMER SERVICE
249.
TAN, QICHAO Chinese
CHINESE CUSTOMER SERVICE
306.
YANG, WEIBIN Chinese
CHINESE CUSTOMER SERVICE
136.
CHI, QINGSHU Chinese
CHINESE CUSTOMER SERVICE
193.
LIANG, FENG Chinese
CHINESE CUSTOMER SERVICE
250.
TAN, MINGYUE Chinese
CHINESE CUSTOMER SERVICE
307.
YANG, YUN Chinese
CHINESE CUSTOMER SERVICE
137.
DENG, ZHAOYUAN Chinese
CHINESE CUSTOMER SERVICE
194.
LIANG, BOCHAO Chinese
CHINESE CUSTOMER SERVICE
251.
TANG, KAI Chinese
CHINESE CUSTOMER SERVICE
308.
YANG, HONGHUA Chinese
CHINESE CUSTOMER SERVICE
138.
DENG, XINSONG Chinese
CHINESE CUSTOMER SERVICE
195.
LIANG, HONGWEI Chinese
CHINESE CUSTOMER SERVICE
252.
TONG, HAIQI Chinese
CHINESE CUSTOMER SERVICE
309.
YANG, CHAO Chinese
CHINESE CUSTOMER SERVICE
139.
DENG, ZHIREN Chinese
CHINESE CUSTOMER SERVICE
196.
LIANG, JIELI Chinese
CHINESE CUSTOMER SERVICE
253.
TONG, QIANG Chinese
CHINESE CUSTOMER SERVICE
310.
YE, WEIJUN Chinese
CHINESE CUSTOMER SERVICE
140.
DI, LINGFENG Chinese
CHINESE CUSTOMER SERVICE
197.
LIN, YINBO Chinese
CHINESE CUSTOMER SERVICE
254.
WAN, YILIANG Chinese
CHINESE CUSTOMER SERVICE
311.
YIN, PENGHUI Chinese
CHINESE CUSTOMER SERVICE
141.
DONG, LIANG Chinese
CHINESE CUSTOMER SERVICE
198.
LIN, WENZHEN Chinese
CHINESE CUSTOMER SERVICE
255.
WANG, MENGXIAO Chinese
CHINESE CUSTOMER SERVICE
312.
YU, JICAI Chinese
CHINESE CUSTOMER SERVICE
142.
FAN, XUESONG Chinese
CHINESE CUSTOMER SERVICE
199.
LIU, XU Chinese
CHINESE CUSTOMER SERVICE
256.
WANG, YINGYING Chinese
CHINESE CUSTOMER SERVICE
313.
ZENG, FAN Chinese
CHINESE CUSTOMER SERVICE
143.
FANG, XIANGYU Chinese
CHINESE CUSTOMER SERVICE
200.
LIU, BEIBEI Chinese
CHINESE CUSTOMER SERVICE
257.
WANG, JUN Chinese
CHINESE CUSTOMER SERVICE
314.
ZENG, RONGRONG Chinese
CHINESE CUSTOMER SERVICE
144.
FEI, JIAHAO Chinese
CHINESE CUSTOMER SERVICE
201.
LIU, TAO Chinese
CHINESE CUSTOMER SERVICE
258.
WANG, HUIBO Chinese
CHINESE CUSTOMER SERVICE
315.
ZHAN, TIANLIU Chinese
CHINESE CUSTOMER SERVICE
145.
FU, YANQING Chinese
CHINESE CUSTOMER SERVICE
202.
LIU, XIA Chinese
CHINESE CUSTOMER SERVICE
259.
WANG, GUOCHANG Chinese
CHINESE CUSTOMER SERVICE
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News
BusinessMirror
Tuesday, February 9, 2021 A7
Makati procures 42 refs,
freezers in prep for Covid-19 vaccination As we wait for the vaccines to arrive, the city government is preparing the vaccination sites, vaccine depots and other logistic needs for cold chain management. I assure everyone that we are doing our best to achieve a 100 percent vaccination rate in Makati.
BM
Makati City Mayor Abby Binay
M
AKATI Mayor Abby Binay on Monday revealed that the city government has procured 42 biomedical refrigerators and laboratory freezers to ensure proper and safe storage of Covid-19 vaccines. “As we wait for the vaccines to arrive, the city government is preparing the vaccination sites, vaccine depots, and other logistic needs for cold chain management. I assure everyone that we are doing our best to achieve a 100 percent vaccination rate in Makati,” she said. Mayor Abby said the vaccine refrigerators and freezers will be housed in a vaccine depot being built at the City Hall quadrangle. The Makati Health Department (MHD) targets to finish the preparation of the site next week, she said. Mayor Abby led the inspection of
the city’s Covid-19 vaccination simulation exercise last Thursday at the Makati Coliseum. Residents and non-residents who work in Makati who will be vaccinated will undergo online registration, counseling, screening, vaccination, and post-vaccination monitoring. She said the Makati Coliseum will cater to the first batch of medical frontliners (public and private) and uniformed personnel who will be inoculated once the vaccines are available. Apart from the Makati Coliseum, Mayor Abby said, the MHD has identified 31 vaccination sites, including 24 public schools (divided into four zones), six villages, and the Ospital ng Makati. The other four vaccine depots are located at East Rembo Elementary School (Zone 1), Makati High School (Zone 2), Nicanor Garcia
ES (Zone 3), and Pio del Pilar ES Main (Zone 4). Zone 1 will be the source of vaccine supply for those living near the Cembo ES, South Cembo ES, Comembo ES, East Rembo ES, Fort Bonifacio ES, Rizal ES, and West Rembo ES, while Zone 2 will accommodate those near Nemesio Yabut ES, Guadalupe Viejo ES, San Jose ES, Pitogo ES, Makati HS, and Pio del Pilar HS. Zone 3 will serve those near the Nicanor Garcia ES, La Paz ES, Jose Magsaysay ES, F. Benitez III ES, and F. Benitez III Main ES, while Zone 4 will cater to those near the Bangkal Main ES, Palanan ES, Pio del Pilar ES I, Pio del Pilar ES Main, San Antonio ES, and San Isidro National HS. The mayor urged Makatizens to take full advantage of the city’s free vaccination because it is scientifically proven to be effective against Covid-19. She also said the city will launch an online registration portal in the coming weeks to determine the number of vaccines needed. Earlier, Mayor Abby said the city has allotted P1 billion for the purchase of Covid-19 vaccines for residents, non-resident workers, and business owners. Makati has already purchased 1 million doses from British-Swedish firm AstraZeneca and is currently negotiating with other pharmaceutical companies.
DA-BFAR project opens wider access to skills and knowledge in fish farming
I
NTERESTED groups or individuals may now avail of the Department of Agriculture’s Bureau of Fisheries and Aquatic Resources’ (DA-BFAR) collection of aquaculture technology as the agency made it more accessible during its virtual launching on Monday, February 8, 2021, in Quezon City. A component of the “Aqua Negosyo Para sa Pilipino” initiative of the DA-BFAR, the project emphasizes that the key to successful agribusiness, including aquaculture enterprise, is acquiring the right knowledge and technical skills. It also integrates the One DA approach to strategic communication, while hitting another of the agriculture department’s key initiative of jump-starting agribusiness and spurring entrepreneurial and economic development in the countryside through the establishment of Agro-Industrial Business
Corridors (ABC). “At the start of the year, the Department of Agriculture launched the One DA Approach, which follows the ‘whole of government approach’ of the Duterte administration. Under this approach, we laid down 12 key strategies to achieve a transformed and empowered agriculture and fisheries sector in the country,” Agriculture Secretary William Dar said. Putting emphasis on aquaculture development, the DA-BFAR has allotted 70 percent or an estimated amount of P1.3 billion of the total budget of the Fisheries Development Program under the National Fisheries Program to support the aquaculture sector this year. The Aqua Negosyo initiative provides availability of essential aqua technology information to every Filipino but highly promotes itself to returning overseas Filipino workers (OFW) and Balik Probinsya program
participants, as well as to small-scale farmers and fisherfolk Filipino who can potentially venture into agribusiness. Among the information materials developed by DA-BFAR’s National Technology Centers available to interested parties are videos of modern technology such as urban aquaponics and instructional guide of culturing sought-after fishery commodities like tilapia, bangus (milkfish), shrimp, seaweeds, and shellfish. Budding aqua entrepreneurs can choose which among the commodities are most appropriate in their area and they can also seek the assistance of the National Technology Centers or DA-BFAR’s regional offices nearest to them. The Aqua Negosyo information materials can be accessed online through DA-BFAR’s official web site and YouTube channel. They will also be available in the DA-BFAR Regional and Provincial Fisheries Offices.
5 hurt, 21 houses damaged as quakes jolt North Cotabato, Sultan Kudarat
C
OTABATO CITY—Five persons were hurt, 21 houses damaged, and eight landslides were reported in the provinces of North Cotabato and Sultan Kudarat following Sunday’s twin tremors that jolted south-central Mindanao, disaster officials said. Arnulfo Villaruz, North Cotabato Disaster Risk Reduction and Management Council (PDRRMC) warning and action officer said the five persons sustained minor injuries due to panic while the ground was shaking. Villaruz said the rapid assessment conducted by the provincial engineering office showed that 21 houses have been damaged by the quake in the towns of M’lang and Kabacan, both in North Cotabato.
“Two houses were severely damaged, while 19 sustained minor damages,” he said. He added that two local church buildings were also partially damaged in M’lang, and so with two private business establishments in Kabacan that incurred minor damages in the structures. Villaruz said that of the eight landslides reported in North Cotabato, seven occurred in Makilala and another in nearby M’lang town. In Sultan Kudarat province, the provincial disaster office reported that a hospital in Isulan town incurred minor damages. In Kidapawan City, work at the city hall has been suspended Monday morning to pave way for a building inspection.
Mayor Joseph Evangelista also said that patients in at least three major hospitals in the city were evacuated outside the buildings but later returned to their respective rooms after building assessment and evaluation were completed. The Magnitude 4.8 quake occurred at 7:28 a.m., and another Magnitude 6.1 hit at 12:22 p.m. Both had their epicenter in Magsaysay town in Davao del Sur. Engr. Ramil Amilbahar, Philippine Institute of Volcanology Cotabato station seismologist, said Sunday’s tremors were extra strong since it was felt to as far as Bukidnon and Misamis Occidental, Maguindanao, and Sultan Kudarat, which were hundreds of kilometers away from the epicenter. PNA
A8 Tuesday, February 9, 2021 • Editor: Angel R. Calso
Opinion BusinessMirror
www.businessmirror.com.ph
editorial
Saving our children from online predators
T
he Internet can be a risky place, especially for children or minors. Before the Covid-19 pandemic, concerned parents had a tough time keeping their kids off the Internet. When home quarantines were mandated and classes moved online, the challenge of monitoring children’s Internet activities multiplied. From The Associated Press: “Study: Philippines a global hot spot for online child abuse.” The United Nations International Children’s Emergency Fund has confirmed that the Philippines has become the global epicenter of the live-stream sexual abuse trade, and many of the victims are children. From the Unicef: “The Philippines is one of the top global sources of child sex abuse materials. In 2018 alone, 600,000 sexualized photos of Filipino children were bartered and traded. The Philippine Kids Online Survey found that 90 percent of Filipino children can access the Internet whenever they want or need to, and 59 percent connect to the Internet without supervision. It also revealed that 2 in 10 children are vulnerable to be victims of child online sexual exploitation and abuse.” Online predators are making money by exploiting Filipino children. In a public bulletin titled “Child Pornography in the Philippines,” the AntiMoney Laundering Council reported suspicious transactions worth P113 million related to child pornography in the first half of 2020, almost double the P65.8 million reported in 2019. To protect Filipino children from online predators, the Philippines joined the Safer Internet Day (SID) celebration in 2013 when Stairway Foundation (www.stairwayfoundation.org) became the country convener for SID Philippines. The celebration sees hundreds of organizations get involved to help promote the safe, responsible and positive use of digital technology for children and young people. Globally, Safer Internet Day is celebrated in over 100 countries, coordinated by the joint Insafe/INHOPE network, with the support of the European Commission, and national Safer Internet Centers across Europe. The day offers the opportunity to highlight positive uses of technology and to explore the role we all play in helping to create a better and safer online community. It calls upon young people, parents, teachers, social workers, law enforcers, companies and policy-makers to join together to create a better Internet for children. In 2016, the Inter-Agency Council Against Child Pornography adopted the Safer Internet Day Philippines in the National Response Plan for Online Sexual Abuse and Exploitation of Children 2016-2020. The Council then envisioned to institutionalize the advocacy through the massive nationwide information dissemination drive by securing a proclamation from the Office of the President. On February 5, 2018, President Duterte issued Proclamation 417, declaring the Second Tuesday of February of Every Year as Safer Internet Day for Children in the Philippines. On February 13, 2018, DSWD as the chair launched the Safer Internet Day Philippines in coordination with the Council’s members and partners. In this year’s Safer Internet Day Celebration, Stairway Foundation is spearheading a national network conference dubbed “Break The Silence.” All of us can help make the campaign against exploitation of children succeed. For example, those who witness online sexual abuse of children must report immediately to child support organizations such as Action Against Human Trafficking (1343 for Metro Manila; 021343 outside Metro Manila), Bantay Bata (163), and Philippine Red Cross (143). Online sexual exploitation violates our children’s rights, which affects their well-being and deny them the opportunity to reach their full potential. Let’s do everything we can to keep our children safe online. Since 2005
BusinessMirror A broader look at today’s business ✝ Ambassador Antonio L. Cabangon Chua
Conditions are getting better Manny B. Villar
THE Entrepreneur
T
he Philippines is not out of the woods yet, but I strongly believe things are looking up. For one, the worst is over for the Philippine economy. It has bottomed out after contracting 9.5 percent for the whole of 2020, and I can sense it will surely bounce back starting this year. The base effect naturally will induce growth starting in the second quarter of 2020 when the economy contracted 16.9 percent. It may be a distortion in the economic growth coming from a low base, but succeeding figures nonetheless will confirm that the Philippines is on the way up. The economic recovery is critical in shoring up consumer and business confidence amid the pandemic. The rate of recovery, of course, will heavily hinge on the success of the vaccine rollout and the speed by which the Philippines can achieve herd immunity. The positive news last week on the arrival and availability of vaccines in the Philippines gives us another reason to be upbeat. The World Health Organization
(WHO) assured the Philippines it will receive 44 million doses of Covid-19 vaccines this year through the Covax Facility, with up to 9.2 million doses arriving in the first half. This WHO initiative is a boon to the Philippines and other nations that are worrying about access to Covid vaccines. Rich countries like the US, China and those in Europe are practically assured of getting the vaccine because of their huge financial resources. With the Covax Facility, however, poorer nations like the Philippines can have equal access to the vaccine. Dr. Rabindra Abeyasinghe, the WHO representative to the Philippines, says vaccine deliveries will start once the government fulfills the necessary arrangements required by the Covax Facility and the
The next circus sideshow
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W
hen the circus came to town, it was the midway sideshows that were most exciting. Carnival barkers would entice customers to come inside.
“Hurry, hurry, hurry! Step right up. See the greatest, the most sensational show in town. See Little Egypt do her famous dance of the Pyramids. Meet Gertler and Myrtle, the two-headed turtle!” Maybe the most famous American sideshow was “Chang and Eng— The Siamese Twins.” The conjoined twin brothers fathered 21 children and died millionaires. Are you in “circus mode” yet? The reason I ask is that the next sideshow on the Philippine economic scene may be “Stag and Flation”— “The Economy Killers.” The usual analysis is that “stagflation is characterized by slow economic growth and relatively high unemployment—or economic stagnation—which is accompanied
by rising prices or inflation.” So, it is lower and/or slower economic growth, higher unemployment, and increasing prices. The term was first used in the 1970s when developed nations experienced rapid inflation and high unemployment because of the oil price “shock.” During the past 40 years, systemic inf lation—not price increases resulting from an imbalance in supply and demand— has usually been tied to the global crude oil price. The other primary factor has been “currency-induced cost push inflation” when an economy’s currency is in a depreciation trend. Here is the reality, though. Since the 1970s, rising price levels during periods of slow or negative eco-
other requirements of drug makers, such as Pfizer-BioNTech and AstraZeneca. The Covax Facility of the international health body aims to guarantee fair and equitable access of the vaccines for every country in the world to minimize the impact of the pandemic, save lives and help in the speedy economic recovery. The help from WHO is very assuring. The Covax program, led by WHO and the Gavi vaccine alliance, published its initial distribution list for 337.2 million doses, with the Philippines included in the top 10 recipients of Covid-19 vaccines. The Covax program is looking potentially to deliver a maximum of 9.2 million doses to the Philippines coming through the Covax facility by March or April of this year and the balance of the 44 million doses later this year. I have confidence the Philippines will keep its side of the bargain in receiving the badly-needed doses. The national government, local government units and the private sector have taken efforts to prepare the cold-chain facilities and manpower needed to roll out the vaccines under the National Deployment and Vaccination Plan. The Pfizer-BioNTech doses, for one, require special ultracold storage. The conditions in the Philippines, indeed, are improving and we are getting timely help to overcome the pan-
nomic growth have become almost the “normal” rather than the exception. This is partly because when a company experiences lower sales, it tends to increase prices to increase revenues. We are seeing that now. It seems like every restaurant has increased its menu prices even slightly to make up for the months of being closed. Maybe the circus is already coming to town. “As food prices soar, Duterte allows return of ‘stagflation,’” says one economic “expert.” However, gross domestic product is an economic data that wears many disguises. And you can pick whichever one you want to prove your narrative. Take GDP growth. The Philippine economy shrank 8.3 percent year-on-year in the fourth quarter of 2020. Bad. But that is better than the 16.9 percent contraction in the second quarter of 2020 and the 11.4 percent in the third quarter. Good. The Philippine GDP went up by 5.6 percent quarteron-quarter in fourth quarter of 2020 versus the third quarter. Also good. Therefore, the actual GDP trend through the economic disaster of 2020 is improving. The annual inflation rate rose to 4.2 percent in January 2021 from 3.5 percent a month earlier, meaning the
demic. The Asian Development Bank is earmarking $25 million (around P1.2 billion) to help the government purchase vaccines this year. The ADB assistance will enable the Philippine government to pay vaccine makers in advance to secure the delivery of the doses to the population. Things are also looking up in the economic front. The Philippine Manufacturing Purchasing Managers’ Index rose from 49.2 points in December to 52.5 points in January this year. This data is an indicator of the country’s economic health for the manufacturing sector. The Philippines’s external accounts, meanwhile, remain solid— an assurance that we are very far from a foreign exchange crisis despite the economic recession. The Philippines registered a record balance of payments surplus of $16 billion and gross international reserves of $110.12 billion in 2020 amid the challenging global environment precipitated by Covid-19. The peso is steady, hovering around 48 against the US dollar, while the Philippine stock market remains vibrant. Still, the economic conditions are far from ideal but the Philippines, I believe, will finally get over the hump. We just have to be patient and stay positive. For comments, e-mail mbv.secretariat@gmail. com or visit www.mannyvillar.com.ph.
“basket of goods” cost 4.2 percent more in January than during the same period a year earlier. That’s bad. But then again global crude oil prices are up almost 150 percent from April 2020. Even with all his authoritarian superpowers, there is little Duterte can do about that. The unemployment rate in the Philippines surged to 8.7 percent in the December quarter of 2020 from 4.5 percent in the same quarter a year earlier. That is not just bad. That is terrible. However, in July the unemployment rate was nearly 18 percent. These are perilous times. We are at the mercy of forces that no one—government or “experts”—can control. But there are tens of millions of Filipinos that wake up each morning concerned about putting food on the table and about their children’s future. There is a tiny cadre that wakes up each morning thinking how to push their political agenda, comfortable with their well-stocked refrigerators and gas filled cars. No wonder “coulrophobia” or fear of clowns is a real condition. E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.
Opinion BusinessMirror
www.businessmirror.com.ph
Tuesday, February 9, 2021 A9
Liquidation of business: Convicting Donald J. Trump Tax treatment of transfer Manny F. Dooc of assets to owners TELLTALES
Fulvio D. Dawilan
Tax Law for Business
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his pandemic has brought a lot of challenges to many businesses. We are already seeing businesses closing shops—some permanently. Others are undertaking corporate restructuring programs in order to expand their resources and maintain or improve their competitiveness.
The closure of business or the undertaking of restructuring activities may eventually result in the dissolution or liquidation. When a corporation dissolves, the shareholders surrender their shares of stock. In return, the shareholders receive cash and/or property from the corporation if anything remains after payments of third-party obligations. The amount in cash and/or other property received by a shareholder following the dissolution or partial liquidation of a corporation is often referred to as liquidating dividend. And let me note that even in death, there are taxes. So goes a familiar phrase—nothing can be certain, except death and taxes. The death of a business entity, voluntary or not, does not exonerate it from the resulting taxes. What is not certain is which part of the process is subject to tax and which tax is applicable. The tax treatment of the liquidating dividend by our tax authority, both on the part of the shareholder and on the part of the dissolving corporation, had been inconsistent, causing confusion on the part of the taxpayers. Let me then refresh the income tax consequences of the transfer of assets from the liquidating corporation to its shareholders. The other tax implications, such as the business tax, will be discussed in a later issue in this column. On the part of the shareholder/ owner: The description—liquidating dividend—itself has added to the confusion. While it is described as dividend, it is not to be treated as dividend for tax purposes. The tax on dividend will not apply. Rather, as emphasized in a number of cases, this is no different from a sale of shares of stock to a third party. Thus, the gain or loss to the shareholder is also referred to as capital gain or capital loss. But it is neither to be treated as a capital gain subject to capital gains tax. While the receipt of property is akin to a receipt of proceeds from sale of shares of stock which is usually subject to the capital gains tax, this is not so for the gain derived from the receipts of assets from a dissolving corporation. Instead, jurisprudence, as early as 1947, has characterized the gain or loss sustained by a stockholder of a dissolved corporation as a taxable income or a deductible loss. This characterization is already incorporated in the Tax Code. The present Section 73(A) of the said Code provides that where a corporation distributes all of its assets in complete liquidation or dissolution, the gain realized or loss sustained by the stockholder, whether individual or corporate, is a taxable income or a deductible loss, as the case may be. The same rule is provided in the implementing regulations (Section 8, Revenue Regulations 6-2008), which allows the investor to recognize either capital gain or capital loss upon the surrender of shares computed by comparing the cash and fair market value of property received against the cost of the investment in shares. The difference between the sum of the cash and the FMV of the property received and the cost of the investment in shares shall represent the capital gain or capital loss from the investment, whichever is applicable. Note that the capital gain is subject to the regular income tax rate on the part of the recipient—shareholder.
Whatever be the reason, it is clear that a corporation cannot be made liable for income tax (regular income tax or special/ final tax rates) by reason of the transfer of assets (either in cash or other forms of property) to its shareholder by reason of dissolution or liquidation. In case of a loss, the same shall be deducted from the other income of the shareholder subject to the regular income tax rate. Clearly, liquidating dividends are not taxed as dividends. Also, while the gain derived by the shareholder is the same as and often described as capital gain, the applicable tax is not the capital gains tax. Instead, the gain is included in the income of the shareholder subject to the regular income tax rate. On the part of a liquidating corporation: The tax treatment on the part of the dissolving or liquidating corporation is another cause of confusion, especially if it involves the transfer of assets other than cash, such as real properties and shares of stock in another corporation. The tax bureau itself has issued conflicting pronouncements on this matter. In BIR Ruling 479-11, for example, the BIR denied the request of a taxpayer for the exemption from tax of the transfer of real property by a dissolved corporation to its shareholder or on its receipt of the surrendered shares from the shareholder. In fact, the said ruling reversed and set aside prior inconsistent rulings. The Courts, however, have been consistent on the tax treatment on the part of the dissolving or liquidating corporations. In one case (CTA EB Case 1702/CTA Case 8940) involving the refund of capital gains tax paid on the transfer of parcels of land by a dissolved corporation to its shareholder, the Court granted the same on the ground that the transfer is not subject to CGT. This is not because, as explained by the Court, of the absence of income from or the absence of sale, disposition or conveyance of real property, but because such transaction is subject to the ordinary income tax on the part of the individual shareholder or corporate income tax for corporate shareholders. Whatever be the reason, it is clear that a corporation cannot be made liable for income tax (regular income tax or special/final tax rates) by reason of the transfer of assets (either in cash or other forms of property) to its shareholder by reason of dissolution or liquidation. In summary, for income tax purposes, only the shareholder may be subject to the regular income tax, if there is gain on the receipt of assets from a corporation as a result of a dissolution or complete or partial liquidation. No income tax shall be imposed on the liquidating corporation, by reason of the transfer or receipt of the surrendered shares. The author is the Managing Partner of DuBaladad and Associates Law Offices (BDB Law), a member-firm of WTS Global. The article is for general information only and is not intended, nor should be construed as a substitute for tax, legal or financial advice on any specific matter. Applicability of this article to any actual or particular tax or legal issue should be supported therefore by a professional study or advice. If you have any comments or questions concerning the article, you may e-mail the author at fulvio.dawilan@ bdblaw.com.ph or call 8403-2001 loc 310.
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oday unfurls a historic event in the US Senate that is unprecedented in its annals. It’s the start of the second impeachment trial of former President Donald J. Trump. Trump is the only president to be impeached twice by the US House of Representatives. In over 230 years since George Washington was installed as the country’s first president, this is only the 4th time that a US president or former president is put to trial in an impeachment proceedings—Andrew Johnson, Bill Clinton and twice for Trump. The US Congress is authorized under the US Constitution to impeach and remove the president, vice president, and all civil officers of the United States upon a determination that such officers have engaged in “treason, bribery, or other high crimes and misdemeanors.” The House of Representatives has impeached Trump the second time around under a single article of impeachment for “incitement of insurrection” resulting in the siege of the US Capitol on January 6, 2021. The events preceding the mob attack of the US Congress was well documented, with Trump seen urging his rowdy followers to “fight like hell” or “they wouldn’t have a country anymore,” and egged them to march to the Capitol. The article of impeachment was approved by a vote of 232-197. Ten Republican members of Congress have joined the Democrats in impeaching Trump. The impeachment trial, which is the second part of the proceedings, takes place in the Senate with all
the senators acting as jurors. To convict a president or former president, two-thirds or 67 members should find him guilty of the article of impeachment he is being charged of. In the Andrew Johnson case, the Senate fell short of one vote to convict Johnson. In the case of Clinton, the Senate lacked 22 votes to reach the required 2/3 votes. President Richard Nixon resigned from office before the Lower House voted to impeach him. And Nixon did it to spare himself from the agony of seeing many of his party mates deserting him to vote for his impeachment and conviction. Two days before he resigned from office, Nixon met with Republican leaders from Congress led by Senator Barry Goldwater who gave Nixon the grim news that he did not have enough votes in the HoR to overcome the impeachment and prevent his conviction when it is tried in the Senate. On his first impeachment trial, Trump was absolved by the Republican-controlled Senate.
Only one Republican, Senator Mitt Romney, voted against Trump. Since Trump is no longer in office on his second trial, the only other action that the Senate may take against him in the event he is convicted, and this would only require a majority vote, is to bar him from holding any public office. This would disqualify Trump from even considering running for president again in 2024 and frustrate his rabid supporters from making America great again. Even if Trump is acquitted, his flawed legacy is further tainted by his 2nd impeachment, a distinct dishonor that he would carry for life. Trump’s lawyers have taken the position that it is unconstitutional to try Trump after he has left office. They asserted that it would be moot and academic to convict him because the Senate “does not have jurisdiction to remove from office a man who does not hold office.” There are precedents for holding an impeachment trial even after the impeachable official has already left his office, but this has been done to officials other than the president. Similarly, a president should be accountable for his wrongful act up to his last day in office and the impeachment trial should continue beyond his term. It would be a travesty of justice if the trial expires with the president’s term. But it would take a higher act of statesmanship instead of petty partisanship on the part of Republican senators to convict their party’s powerful titular head. The key to Trump’s conviction will be Senator Mitch McConnell, the current Senate Minority Leader. McConnell counts the support of several Republican senators whose
votes he could sway to find Trump guilty. If McConnell gives a hint to dump Trump, a good number of his Republican colleagues may follow his cue. Seventeen Republican senators must defect to the other side to convict Trump, assuming that all 50 Democratic senators will toe the party line. These may be largely supplied by the 16 GOP senators who did not vote to sustain the objection against Joe Biden’s certification during the joint session of Congress last January 6. But this will be a herculean task. The more independent Republicans like Senators Romney and Liza Murkowski are likely candidates to bolt the party’s position. But those who harbor plans to seek the presidency in 2024 will ingratiate themselves to the former president to get his blessing when they run for the office. They will be joined by most incumbents who cannot afford to alienate Trump and his die-hard conservative base to win reelection. It seems that nothing can disgrace or shame Donald J. Trump. He seems to have taken to heart what another depraved politician, Richard Nixon, had advised his personal lawyer, Len Garment, that: “You’ll never make it in politics if you don’t know how to lie.” All his demagoguery and chicanery are second nature to Trump. He lost by over 7 million votes and yet he insists up to now that Biden has stolen the election from him despite the fact that all the courts he petitioned to subvert the people’s will have dismissed his unsupported claim. Republican senators should rise above politics if they want to regain the respect of the entire world, which looks up to the US as the beacon of democracy and good government.
Around the globe, virus cancels spring travel for millions By David Mchugh, Casey Smith And Joe Mcdonald AP Business Writers
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RANKFURT, Germany—They are the annual journeys of late winter and early spring: Factory workers in China heading home for the Lunar New Year; American college students going on road trips and hitting the beach over spring break; Germans and Britons fleeing drab skies for some Mediterranean sun over Easter. All of it canceled, in doubt or under pressure because of the coronavirus. Amid fears of new variants of the virus, new restrictions on movement have hit just as people start to look ahead to what is usually a busy time of year for travel. It means more pain for airlines, hotels, restaurants and tourist destinations that were already struggling more than a year into the pandemic, and a slower recovery for countries where tourism is a big chunk of the economy. Colleges around the US have been canceling spring break to discourage students from traveling. After Indiana University in Bloomington replaced its usual break with three “wellness days,” student Jacki Sylvester abandoned plans to celebrate her 21st birthday in Las Vegas. Instead she will mark the milestone closer to home, with a day at the casino in French Lick, Indiana, just 50 miles (80 kilometers) away. “I was really looking forward to getting out of here for a whole week. I wanted to be able to get some drinks and have fun—see the casinos and everything—and honestly see another city and just travel a little,” she said.
“At least it’s letting us have a little fun for a day in a condensed version of our original Vegas plans. Like, I’m still going to be able to celebrate.... I’m just forced to do it closer to home.” At bus and train stations in China, there is no sign of the annual Lunar New Year rush. The government has called on the public to avoid travel following new coronavirus outbreaks. Only five of 15 security gates at Beijing’s cavernous central railway station were open; the crowds of travelers who usually camp on the sprawling plaza outside were absent. The holiday, which starts February 12, is usually the world’s single biggest movement of humanity as hundreds of millions of Chinese leave cities to visit their hometowns or tourist spots or travel abroad. For millions of migrant workers, it usually is the only chance to visit their hometowns during the year. This year, authorities are promising extra pay if they stay put. The government says people will make 1.7 billion trips during the holiday, but that is down 40 percent from 2019. Departures from Beijing and Chengdu in the southwest are forecast to drop 75 percent, according to travel associations.
Each news cycle seems to bring new restrictions. US President Joe Biden reinstituted restrictions on travelers from more than two-dozen European countries, South Africa and Brazil, while people leaving the US are now required to show a negative test before returning. Canada barred flights to the Caribbean. Israel closed its main international airport. Travel into the European Union is severely restricted, with entry bans and quarantine requirements for returning citizens. For air travel, “the short-term outlook has definitely darkened,” said Brian Pearce, chief economist for the International Air Transport Association. Governments have poured $200 billion into propping up the industry. The United Nations World Tourism Organization says international arrivals fell 74 percent last year, wiping out $1.3 trillion in revenue and putting up to 120 million jobs at risk. A UNWTO expert panel had a mixed outlook for 2021, with 45 percent expecting a better year, 25 percent no change and 30 percent a worse one. “The overall prospects of a rebound in 2021 seem to have worsened,” the organization said. In Europe, the outlook is clouded by lagging vaccine rollouts and the spread of the new variants. That means “there is a growing risk of another summer tourist season being lost,” said Jack AllenReynolds at Capital Economics. “That would put a huge dent in the Greek economy and substantially delay the recoveries in Spain and Portugal.” Travel company TUI is offer-
ing package vacations in the sun in Greece and Spain, but with broad cancellation provisions to attract cautious customers. Places that can be reached by car, such as Germany’s North Sea islands and the Alps, are benefiting to some extent because they offer a chance to isolate. The German Vacation Home Association says the popular locations are 60 percent booked for July and August already. Thailand, where about a tenth of the population depends on tourism for its livelihood, requires a two-week quarantine for foreigners at designated hotels costing about $1,000 and up. So far, only a few dozen people a day are opting to visit. Tourist arrivals fell to under 7 million in Thailand in 2020 and are forecast to reach only 10 million this year from 40 million in 2019. Indonesia’s resort island of Bali has deported dozens of foreigners and began restricting foreign arrivals on Jan. 1 as its coronavirus caseload has exceeded 1 million. Gerasimos Bakogiannis, owner of the Portes Palace hotel in Potidaia in Greece’s northern Halkidiki region, said he is not even opening for Western Easter on April 4 but will wait a month for Greek Orthodox Easter on May 2—and, he hopes, the start of a better summer. “If this year is like last year, tourism will be destroyed,” he said. McDonald contributed from Beijing and Smith from Indianapolis. Elaine Kurtenbach contributed from Bangkok and Costas Kantouris from Thessaloniki, Greece.
UK plans annual vaccinations to fight new coronavirus strains
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he UK is on track to vaccinate all people over age 50 by May and is already planning for a program of top-up immunizations to fight new variants of coronavirus from the autumn, officials said. Health Minister Nadhim Zahawi predicted annual vaccination drives similar to the program of injections given for influenza each year. Work is already under way to develop a shot that will offer better protection against the South Africa variant, after a study suggested the
Oxford University-AstraZeneca vaccine had limited effect on mild Covid-19. The government expects “probably an annual or a booster in the autumn and then an annual” dose of vaccines to be given “in the way we do with flu vaccinations,” Zahawi told the BBC on Sunday. “You look at what variant of virus is spreading around the world, you rapidly produce a variant of vaccine, and then begin to vaccinate and protect the nation,” he said.
The UK is a month into its third national lockdown, with businesses shuttered and schools closed. With the economy already damaged by its deepest recession in more than 300 years, Prime Minister Boris Johnson’s government is racing to roll out enough vaccines to be able to begin lifting curbs next month.
Target date
Zahawi, who is responsible for the vaccine rollout, said 979 doses per minute were given to patients
between 11 a.m. and 12 p.m. in the busiest period on Saturday. Speaking to Sky News, he said he was “confident” the government would meet its target to offer vaccines to the 15 million most vulnerable people by Feb. 15 and to have provided doses to everyone over the age of 50 by May. The government is now starting to stockpile shots for the second doses that will be administered from March, Zahawi said in an interview with Sky’s Sophy Ridge on Sunday. Bloomberg Opinion
A10 Tuesday, February 9, 2021
SC RESUMES HEARINGS ON ANTI-TERROR SUITS By Joel R. San Juan
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@jrsanjuan1573
HE Supreme Court will resume on Tuesday (February 9) the debate on the 37 petitions seeking to declare unconstitutional the provisions of the Anti-Terrorism Act (ATA) of 2020. During last week’s start of the oral arguments on the petitions, several justices had started grilling the lawyers who were tasked to raise the issues under six clusters. After the petitioners, the SC will hear the oral arguments of Solicitor General Jose Calida, who represents the government officials named as respondents in the petition -- Executive Secretary Salvador Medialdea, National Security Adviser Hermogenes Esperon, Foreign Affairs Secretary Teodoro L. Locsin Jr., National Defense Secretary Delfin Lorenzana, Interior and Local Government Secretary Eduardo Año, Finance Secretary Carlos Dominguez III, Justice Secretary Menardo Guevarra, Information and Communications Technology Secretary Gregorio Honasan II, Anti-Money Laundering Council Executive Director Mel Georgie Racela, Budget and Management Secretary Wendel Avisado, the Anti-Terrorism Council, and the National Intelligence Coordinating Agency (Nica). Calida is expected to ask the magistrates to dismiss the petitions outright on the ground of lack of jurisdiction. He had insisted that the petitions raised factual issues which are not within the SC’s jurisdiction since it is not a trier of facts. Most of the petitions had sought the Court’s issuance of a temporary restraining order to immediately enjoin ATA’s implementation. However, Chief Justice Diosdado Peralta had said the SC will resolve the pleas for TRO once the oral arguments are terminated. The Court also announced that only authorized lawyers and their staff are allowed inside the main session hall. Those waiting for their turn to argue are cloistered in the division session hall where monitors were
set up. Mediamen are allowed to enter the SC premises during the oral arguments provided they show proof of a negative Covid RT-PCR test result taken within 72 hours prior to the oral arguments. The issues raised by the petitioners were divided into six clusters. Cluster 1 focuses on the preliminary issues such as whether the petitioners have legal standing to sue and if Anti-Terrorism Act (ATA) or Republic Act 11479 should be declared unconstitutional in its entirety if the Court finds the definition of terrorism as well as the powers of the Anti-Terrorism Council (ATC) are constitutionally infirm. Cluster 2 is on whether facial challenge is proper; and if the definition of “terrorism” in Section 4 is void for being vague and overbroad, and thus in violation of constitutional rights such as free speech and expression. Former Solicitor General Jose Anselmo Cadiz, human-rights lawyer Jose Diokno and Lawyer Alfredo Molo argued for clusters 1 and 2. The petition also asks if Section 5-14 defining and penalizing threats to commit terrorism and others are void for vagueness and overbroad and violate constitutional rights. Cluster 3 raises the questions on whether the powers of the ATC are unconstitutional. Issues under this cluster were assigned to lawyer Evalyn Ursua. Lawyer Neri Colmenares argued on the issues under Cluster 4— whether Section 16 violates the constitutional rights to due process and against unreasonable searches and seizures, privacy of communication and freedom of speech and freedom of religion. Cluster 5, which inquires about the ATC’s power to detain without judicial warrant based on mere suspicion, was tackled by Rep. Edcel Lagman. Cluster 6 is about whether RA 11479 violates the Indigenous People and Moro’s rights to selfdetermination and self-governance under the Constitution. This was argued by lawyer Algamar Latiph.
Food security TF forms unit on fish-based protein supply
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By Jasper Emmanuel Y. Arcalas
@jearcalas
HE Interagency Task Force on Food Security (IATF-FS) has created a sub task force group that would focus on the improvement of domestic fisheries and aquaculture sectors to boost the country’s animal protein supply. In a virtual press briefing on Monday, Agriculture Undersecretary for Agri-Industrialization and for Fisheries Cheryl Marie Natividad-Caballero disclosed that the IATF-FS recently created a sub task force group on fisheries and aquaculture. The new sub task force group, which Natividad-Caballero would lead, will focus on addressing challenges and problems in the fisheries and aquaculture sector in order to boost investment, productivity and supply. “The creation of the sub task force group is in cognizance of the limitless opportunities that we can do and harness [from the sector],” Natividad-Caballero said in a brief-
ing organized by advocacy group Tugon Kabuhayan. “Our goal is to address certain issues that hamper the growth of the sector. The sub task force group will look at constraints and challenges that can be addressed through partnerships and discussions among government offices and with the private sector,” she added. On top of the new sub task force group’s agenda are the review of the mariculture highway and study of non-traditional areas for aquaculture to encourage private sector investment that would lead to higher fish supply and generate domestic employment, Natividad-Caballero said.
“We will look at areas that are not traditionally used as aquaculture sites, which can be used for fish farming activities. Our membership includes the National Irrigation Administration, environment agencies particularly the Department of Environment and Natural Resources,” she added. Natividad-Caballero said they have already met with the DENR to carefully scrutinize areas where aquaculture sites can be put up in consideration of marine protected areas. “We will address the policy issues and come up with a strategic mechanism to help the sector grow and expand,” she said. The goal, according to Natividad-Caballero, is to grow the sector’s output by 2 percent to 3 percent with new investments in aquaculture. She said the sub task force group will address also “the constraint of taxes that is imposed in aquaculture in accordance to existing laws.” They are now studying the option of allowing aquaculture and fish farming in dams since 10 percent of the country’s dams are suitable for such agricultural activity, she added. “Initial discussions are being done. Memoranda of agreement
are being finalized. We just have to define the protocols and terms of reference, so [that] when the private sector or whoever goes into aquaculture farming in this nontraditional areas, [they] would have reduced risks in terms of predictability,” she said. Tugon Kabuhayan dubbed the creation of the sub task force group a step in the right direction in “boosting aquaculture production by streamlining processes necessary to identify potential sites and private sector investments.” The group added, “We appreciate IATF’s initiative to ensure food security during the pandemic and beyond. Industry stakeholders are ready to work with STG to create a policy framework for sustainable growth of the aqua and fisheries sector.” “The Philippine aquaculture industry is efficient, strong, and competitive. It doesn’t require state subsidies to survive. All it needs is a policy environment conducive for sustainable growth,” it added. Last month, Tugon Kabuhayan urged the government to open investments in dams, rivers and lakes for aquaculture as a means to boost food security and provide alternative protein sources amid rising pork and chicken prices.
LGUs not required to set up indemnity fund for vaccinees By Claudeth Mocon-Ciriaco
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Correspondent
EALTH Undersecretary Maria Rosario Vergeire on Monday clarified that local government units (LGUs) are not required to set aside a budget for an indemnification fund for their constituents who may suffer from severe side effects of Covid-19 vaccines. Responding to a BusinessMirror question in an online media forum, Vergeire said that there is no need for a separate indemnification fund besides that of the national government for that purpose. “No more [LGUs not required to have indemnification fund] ...whatever the indemnification agreements that will be agreed on and will be made official by the national government, would already cover the local government units,” Vergeire said. Quezon City Mayor Joy Belmonte said that the tripartite agreement with AstraZeneca has an indemnity clause already. “And this is fair,” Belmonte said. Earlier, Health Secretary Fran-
cisco T. Duque III urged lawmakers to fast-track the creation of an indemnification fund law. He said they have already submitted the proposed bill to both houses of Congress.
Marikina and Pasay
DUQUE, however, commended LGUs who allotted a budget for the indemnification fund even though they are not required to do so. The cities of Marikina and Pasay have prepared for an indemnification fund respectively, in case of any adverse reaction to the vaccine. Marikina City Mayor Marcelino Teodoro said the city government has prepared an indemnification fund of about P5 million for affected individuals. For her part, Pasay City Mayor Emi Calixto-Rubiano has allotted an indemnification fund of P30,000 for every resident who might incur sickness arising from the immunization drive. Still, she said that she is confident on the efficacy of the vaccines against Covid-19. Continued on A2
LAS PIÑAS City Mayor Imelda Aguilar leads the city’s Vaccination Simulation Exercise on Monday (February 8) in anticipation of the arrival of Covid-19 vaccines in the country. The exercise aims to prepare local teams on the proper handling and vaccine administration. The Las Piñas City government aims to have 50 to 60 percent of the 500,000-plus residents inoculated with the 300,000 doses of AstraZeneca vaccines procured by City Hall. Witnessing the event are Department of Health Regional Director Maria Paz Corrales, Las Piñas Vice Mayor April Aguilar-Nery and Las Piñas City Health Officer Dr. Ferdinand Eusebio. NONIE REYES
HPAAC flags private purchases of vaccines
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HE Hea lthcare Professionals Alliance Against Covid-19 (HPAAC) has expressed alarm over the reports that some private entities are purchasing Covid-19 vaccines even if the Food and Drug Administration has not issued any marketing authorization yet for Covid-19 vaccines. “And some are even asking their employees to already pay for these purchases. “We also received reports that there are multiple offers from social media and other communication apps already asking for pre-
order payments from the public to directly purchase these vaccines,” the HPAAC said in a statement. The HPAAC, an alliance of more than 170 healthcare professionals and health workers organizations with the goal of ensuring that the Covid vaccine distribution will be just and equitable, noted that FDA Director Eric Domingo had clarified that the government has only issued an emergency use authorization (EUA) for Covid vaccines and that it is not a marketing authorization. “We fear that instead of prioritizing those with vulnerabilities and
high exposure to Covid-19 such as our frontline health workers and senior citizens, these purchases can tilt the priority only to those with the capacity to pay. It also shows the existence of a Covid-19 black market.” These illegal transactions, they urged, must be stopped “if we are to prevent ineffective vaccines and worse, vaccines with detrimental health effects to be consumed by the public.” While they welcome the efforts of the private sector in assisting the government in the procurement and distribution of the vaccines, the
group appealed to them to respect the Covid-19 vaccine priority agenda. “The central government can already procure vaccines but the private sector and ordinary citizens are not allowed to purchase vaccines on their own. This is because the vaccines are still in Phase 3 of the trial process. It is the responsibility of the government to manage the distribution and procurement because this is a health emergency. Ignoring this process may cause harm to the general public,” the HPAAC explained. Continued on A2
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Tuesday, February 9, 2021
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Amid telcos’ move to block child-porn sites, govt readies EO listing sanctions by NTC
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By Joel R. San Juan
@jrsanjuan1573
USTICE Secretary Menardo Guevarra on Monday said the President has approved the imposition of sanctions against internet service providers (ISPs) in the country by the National Telecommunications Commission (NTC) for their failure to comply with their obligations under Republic Act (RA) 9775.
The Department of Justice (DOJ) has been pressuring the companies to comply with their duty under the
law to install a program or software that will block access to or transmittal of any form of child pornography.
The DOJ lamented it has been 11 years since the passage of RA 9755 or the Anti-Child Pornography Act of 2009, but the ISP companies continue to be remiss of their duties. The justice department has seen the need for the ISPs to assume their obligations after the DOJOffice of Cybercrime reported a 264.63-percent increase in the number of reported online sexual exploitation of children during the 3-month quarantine period imposed by the government to contain the Covid-19 outbreak from March to May 2020. “The following recommendations of the DOJ on fighting online sexual exploitation of children were recently approved by the President: direct the NTC to impose sanctions on internet service providers for failure to fulfill their duties un-
der RA 9775; issue an executive order strengthening cooperation among the Inter-Agency Council Against Trafficking (IACAT), the Inter-Agency Council Against Child Pornography (IACACP), and other relevant agencies,” Guevarra said. He said the DOJ would be drafting the executive order and would request other relevant agencies to comment. The impending sanctions came despite telecom operators and ISP operators claim that they have blocked a total of 2,521 child pornographic websites as part of their commitment to help the government curb online child pornography and sexual abuse in the country. In a position paper submitted to Guevarra last year, members of the Philippine Chamber of Telecom Operators (PCTO) have also acknowl-
edged their duty under the law to install a program or software that will block access to or transmittal of any form of child pornography in the internet. Section 9 of RA 9775 requires ISPs to notify authorities within 7 days from discovery that any form of child pornography is being committed using their servers or facilities. PCTO is the umbrella organization of duly enfranchised telecommunication entities and ISPs, including telco giants PLDT Inc. and Ayala-owned Globe Telecom. The NTC, which is an active member of IACAP established has endorsed to the telcos and ISPs more than 6,000 websites and links for to comply with their duty under the law to install a program or software that will block access to
or transmittal of any form of child pornography. Based on the position paper, PCTO member Globe Telecom said it has blocked a total of 2,521 sites that have been identified by the NTC and law enforcement agencies. The Ayala-owned telco invested in a software filtering system worth $2.7 million to support its “PlayItRight” campaign targeting illegal or pirated content and online child pornography. PLDT and Smart said they have also provided connectivity and technical assistance to enable services for the quick reporting of cases of online sex exploitation of children through text hotline 7444-64 set up by the PNP Women and Children Protection Center and the International Justice Mission.
Fruitas kiosks to sell bakery items SBITC to serve By VG Cabuag @villygc
F
ood and beverage kiosk operator Fruitas Holdings Inc. on Monday said its community stores will soon sell pan de sal and other bakery items as sales of these products rose during the lockdown. In its disclosure, the company said it will open several standalone Babot’s Panaderya, with initial rollout plans of 4 branches in Metro Manila and one in a provincial area. Fruitas said it is leveraging off the baking expertise and capac-
Red Cross, Lina Group tie up for vaccine bus
T
he Philippine Red Cross (PRC) has partnered with UBE Express of the Bert Lina Group of Companies to be able to reach more communities and provide vaccines even in far-flung areas by making their newly- designed bus available to the humanitarian organization. Dubbed PRC Bus 143, it has a unique design that is tailored to the needs of vaccination as well as other mobile health services. It was used in a mobile vaccination for measles in Brgy. Holy Spirit, Quezon City on February 6. PRC Bus 143 can also be used for vitamin A administration, well-baby clinics, out-patient consultations for hypertension and diabetes, TB diagnosis and pre-natal care. “This new transportation by PRC and the Bert Lina Group of Companies will be consistent in providing vaccines to communities. PRC Bus 143 also ensures a secure place for vaccination. The bus itself has a clinic-like setup,” said Sen. Richard Gordon, who is also chairman and CEO of PRC. As of February 5, PRC have vaccinated 108,184 children against measles-rubella and polio, exceeding its target accomplishment for this month. With around 1,363 volunteers, PRC also reached 449 communities in 78 cities/municipalities through 33 chapters with the support of the IFRC, American Red Cross, Canadian Red Cross, and Netherland Red Cross. Gordon made an assurance that after the success of its pilot rollout in Quezon City, the PRC Bus 143 will also reach Visayas and Mindanao. “We will bring PRC Bus 143 anywhere in the Philippines—whether Visayas or Mindanao. We are focusing on vaccination for measles and polio to prepare also for the vaccination for Covid-19,” Gordon said. PRC Bus 143 will be manned by a driver on a 14-day duty, a doctor who will serve as the team leader, six nurses, one med technologist, four assistants for the IT/medical records, communications officer, logistics officer, and a security officer. Claudeth Mocon-Ciriaco
ity of Negril Trading Inc., which houses its De Original Jamaican Pattie brand. As a result, Fruitas is initially entering the bakery business with minimal capital expenditure. Moreover, it is building on its track record of providing fresh and alternatives for fruit juices, soy-based products, ice cream and milk, it said. “Pan de sal is a staple in Filipinos’ daily diet. Our entry into the bakery business is a natural step to achieve our vision of having every Filipino household consume at least one Fruitas product every day. At the same time, freshly baked
bread is a perfect addition to our community stores,” Lester Yu, the company’s president and CEO, said. As the company enters the bakery business, Yu said it will have the advantage of being a company that offers flexible and enhanced consumer distribution. The Fruitas community stores currently offer curbside ordering and pickup as well as home and office delivery through its CocoDelivery subsidiary. Fruitas bread products will be available to consumers through its community stores, CocoDelivery, and soon through Babot’s Panaderya. Fruitas is also explor-
ing the sale of its own bread products in some of its kiosks and to selected institutional customers. The total bread market in the Philippines is estimated to be as much as P200 billion per year. Bread sales increased by around 30 percent in the second quarter of 2020, during the height of the lockdown. In the past few months, Fruitas has expanded its product suite and also tapped partners to distribute some of its products. It decided to enter the bakery business itself to serve the demand of its customers for freshly baked bread.
as discharge port for meat imports
SBMA pushes jet maintenance ‘bubble’ in Subic By Henry Empeño
Photo from www.sbitc.ph
Correspondent
T
S
ubic Bay Freeport—Banking on Subic’s health safety record as an international gateway, the Subic Bay Metropolitan Authority (SBMA) is pushing for the operation of a “corporate jet maintenance bubble” (CJMB) here. SMBA said the CJMB will deliver maintenance services for business aircraft despite the continuing Covid-19 pandemic. SBMA Chairman and Administrator Wilma T. Eisma said the end-to-end bubble platform will be located at the Subic Bay International Airport (SBIA), which also houses a crew-change hub for mariners under the supervision of the Department of Transportation (DOTr). “ The corporate jet maintenance bubble works with roughly the same concept—it will be a complete process that precludes any third-party engagement because the accommodations, amenities and services are all in one place, and everything stays isolated,” Eisma said. She said the SBMA recognized the financial pressure faced by the aviation industry and thus developed the CJMB to provide a safe, seamless, and efficient mechanism for business jet operators in the Asia-Pacific region to meet their maintenance needs here in the Philippines despite the Covid-19 crisis. The CJMB was developed in accordance with Resolution No. 84 of the Inter-Agency Task Force on Emerging Infectious Diseases (IATF), Eisma said. This authorized the SBM A to set up a corporate jet flight
A business jet shelters inside Subic’s maintenance, repair and overhaul hub during the facility’s launch in 2019. Photo by Henry Empeño
maintenance and crew layover hub at the Subic Freeport under a strict “bubble” concept, as recommended by the DOTr and the Civil Aviation Authority of the Philippines (CAAP). “With this project, we can also generate income for the Subic airport and once more push its potential as a regional aviation hub,” Eisma added. Under the bubble concept, business jets may come into Subic for maintenance work without the limiting restrictions currently being implemented at other local airports. The end-to-end process was carefully tailored to ensure a level of safety that would meet existing guidelines from regulatory agencies like CAAP, International Civil Aviation Organization (ICAO), International Air Transport Association (IATA), as well as the World Health Organization (WHO), Department
of Health (DOH), and the IATF. Eisma said the SBMA “will strive to continuously work with the IATF, BI [Bureau of Immigration], DOTr and other stakeholders to ensure transparency and commitment to safety while facilitating the safe positioning of flights and their respective crew to and from Subic.” The SBMA approved the aviation maintenance, repair and overhaul facility at the Subic airport as early as August 2019 and gave aviation services provider Aviation Concepts Technical Services Inc. its go-ahead for the full development of the local airport as a 24/7 hub for business aviation. The SBMA had since marketed SBIA for its strategic location, it being only 1.5 hours away from Hong Kong, Macau and Taiwan and just 3 hours away from Singapore and Kuala Lumpur, as well as for Subic’s manpower talent and cost-effectiveness.
he Department of Agriculture (DA) has endorsed the Subic Bay International Terminal Corp. (SBITC) as a discharge port for containers of imported livestock and raw materials. In a statement sent by International Container Terminal Services Inc. (ICTSI) to members of the media, the company said the endorsement “highlights the terminal’s role in ensuring unimpeded trade for the livestock and feed milling industries.” The endorsement is also seen to encourage importers to use the port to ensure that feeds are readily available to farmers, which may lower market prices of meat products in Manila and nearby provinces. “Given the initiatives of the current administration to support affordable and accessible food for the Filipino people, industry players should be able to tap services which are competitive and will provide access where Filipino consumers demand products,” the statement, quoting a DA letter, read. It added that the strategic location of SBITC will help curb delays in transporting cargo in Lu-
zon, especially during peak season. Roberto R. Locsin, SBITC president and general manager, said the group is “making conscious efforts to make transactions more seamless and beneficial for industry end users, which help reduce livestock production costs and ease the burden on consumers.” “SBITC is a strategic hub connecting the greater Manila and Central Luzon, the center of the country’s agriculture trade. Compared to other ports, we offer lower port fees and up to 10 days of free storage for our partners. This helps businesses and suppliers arrange for transport and delivery to their intended destination without the burden of extra cost, making us the ideal port of choice,” he said. Locsin said travel between Subic and Manila is expected to improve given the new infrastructure projects in the pipeline. “Additionally, trucks can freely move to and from Subic to facilities north of Metro Manila, contributing to faster movement of goods and supplies during critical months,” he said. Lorenz S. Marasigan
‘Cebu Landmasters still top developer in VisMin’
R
egional property developer Cebu Landmasters Inc. (CLI) has maintained its status as the leading residential developer in the Visayas and Mindanao last year among a handful of real-estate firms that offer condominium and subdivision projects the region. Property consultant Santos Knight Frank said CLI accounted for about 12 percent of the market in terms of sales for the third quarter of 2020 data or about 18,683 housing units. The company edged out Manila-based developers Sta. Lucia Realty and Development Corp. and Villar-led Camella Homes with at 11,897 units and 11,768 units, respectively. “The high sales velocity of our projects even at the height of the lockdowns in key cities verifies a deeply felt need especially among VisMin economic and mid-income earners to own their own homes. We intend to continue fulfilling this need in 2021 with 8,000 more units in 15 residential projects in Cebu, Ormoc, Bacolod, Iloilo, Cagayan de Oro and Davao,” Franco Soberano, the
company’s executive vice president and COO, said. CLI announced record reservation sales of P14.25 billion in 2020 accounting for 5,300 units sold across key cities in the region despite the pandemic. “The year 2020 opened our eyes further to how high the demand truly is for quality housing in VisMin, and we hope to build on our growth momentum to satisfy this great need,” he said. According to the study, the housing backlog in Visayas and Mindanao would hit 2.85 million houses by 2022 with an average annual demand of 475,000 new housing units. Of this number, 200,000 mid and economic housing units are needed per year. The property consultant said only a handful of the current top 10 VisMin developers in 2020 are likely to meet the backlog on the mid and economic segments in 2021 and beyond. A number of these developers extended project completion and turnover dates due to the pandemic. VG Cabuag
B2
Companies BusinessMirror
Tuesday, February 9, 2021
PSE STOCK QUOTATIONS
February 8, 2021
Net Foreign Stocks Bid Ask Open High Low Close Volume Value Trade (Peso) Buy (Sell) FINANCIALs
ASIA UNITED BDO UNIBANK BANK PH ISLANDS CHINABANK CITYSTATE BANK EAST WEST BANK METROBANK PBCOM PHIL NATL BANK PSBANK PHILTRUST RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FIRST ABACUS FERRONOUX HLDG IREMIT MEDCO HLDG NTL REINSURANCE PHIL STOCK EXCH SUN LIFE
43.55 111.1 86.05 24.5 7.6 10.16 49.45 21.25 25.95 54.5 96.3 17.84 132.7 75.1 1.05 4.01 0.57 3.79 1.52 0.43 0.67 151.6 2,100
45 111.4 86.1 24.7 8.44 10.2 49.5 23.45 26.1 55 114.9 17.9 133 75.15 1.07 4.05 0.6 3.8 1.55 0.44 0.71 153.8 2,148
44.5 109 83.95 24.1 7.58 10.2 47.5 22.85 26.2 55 98.6 17.9 129 75 1 4.09 0.6 3.92 1.54 0.44 0.67 152.9 2,100
45 112 86.3 24.8 8.44 10.22 49.5 22.85 26.45 55 98.6 17.94 134 75.2 1.1 4.2 0.6 3.92 1.54 0.45 0.72 153.8 2,100
44.5 108 83.8 24.1 7.58 10.12 47.2 22.85 25.9 54.25 98.6 17.6 129 74.95 1 4 0.6 3.6 1.5 0.44 0.67 151.4 2,100
45 111.1 86.1 24.75 8.44 10.2 49.45 22.85 25.95 54.5 98.6 17.9 133 75.15 1.05 4 0.6 3.79 1.52 0.44 0.71 153.8 2,100
35,600 3,687,110 2,649,260 50,100 8,400 412,900 20,137,600 1,000 364,100 630 20 112,300 497,090 69,110 1,617,000 394,000 1,000 404,000 446,000 320,000 135,000 2,280 5
1,597,600 407,510,581 226,057,420 1,232,310 63,935 4,199,514 963,347,390 22,850 9,491,220 34,572.50 1,972 1,997,626 65,885,215 5,185,662 1,678,840 1,624,240 600 1,495,640 675,820 141,200 95,730 346,322 10,500
154,377,313 67,064,575.50 -519,746 -176,063,415 -4,887,395 4,902.50 -7,008,475 -9,038.50 -140,390 3,730 77,000 8,800 35,248 10,500
INDUSTRIAL AC ENERGY 7.75 7.76 7.27 7.83 7.27 7.75 72,895,800 552,430,352 1.35 1.37 1.35 1.37 1.33 1.34 3,241,000 4,363,070 ALSONS CONS ABOITIZ POWER 26.45 26.5 26.35 26.45 26 26.45 794,300 20,906,725 1.05 1.06 1.11 1.12 1.05 1.05 133,368,000 143,109,960 BASIC ENERGY 29.8 29.85 30.05 30.05 29.7 29.85 1,448,600 43,299,000 FIRST GEN FIRST PHIL HLDG 75.65 75.8 75.55 76 75.5 75.8 19,530 1,478,967 291 292.2 293 295 289 291 371,380 108,653,966 MERALCO MANILA WATER 15.8 15.88 15.52 15.8 15.34 15.8 814,900 12,731,950 PETRON 3.67 3.68 3.61 3.69 3.6 3.68 1,096,000 4,000,920 3.76 3.98 3.94 4 3.94 4 23,000 91,370 PETROENERGY PHX PETROLEUM 12.6 12.76 12.08 12.76 11.72 12.76 207,400 2,556,278 21.45 21.5 21.5 21.8 21.4 21.5 418,600 9,013,160 PILIPINAS SHELL 10.2 10.22 10.1 10.22 10.04 10.22 73,800 749,824 SPC POWER VIVANT 13.86 14.6 14.64 14.66 14.64 14.66 2,600 38,094 7.09 7.1 7.3 7.35 7.09 7.1 511,700 3,657,276 AGRINURTURE 3.46 3.49 3.55 3.6 3.42 3.46 2,078,000 7,285,470 AXELUM BOGO MEDELLIN 70.95 76.75 70.95 70.95 70.95 70.95 100 7,095 13.82 14.1 14.1 14.1 13.8 14 8,700 121,090 CNTRL AZUCARERA CENTURY FOOD 18 18.14 17.96 18.2 17.4 18 1,110,100 19,933,068 DEL MONTE 9 9.04 9.03 9.06 8.95 9.04 115,500 1,041,686 7.45 7.47 7.17 7.47 7.16 7.45 2,092,600 15,421,636 DNL INDUS EMPERADOR 10 10.14 10.02 10.14 9.93 10.14 325,400 3,280,146 68 68.15 68.5 68.5 67.55 68.15 266,000 18,107,568.50 SMC FOODANDBEV 0.63 0.64 0.64 0.64 0.62 0.63 292,000 183,140 ALLIANCE SELECT FRUITAS HLDG 1.55 1.56 1.46 1.58 1.43 1.56 35,330,000 53,672,250 53.35 53.5 55 55 53.3 53.5 114,470 6,162,836 GINEBRA 183 183.1 183.7 184 182.5 183 767,150 140,719,319 JOLLIBEE LIBERTY FLOUR 33.9 34 34.1 34.1 33.75 33.9 3,800 129,120 7.9 8.18 8.18 8.18 7.89 7.9 30,500 241,223 MACAY HLDG MAXS GROUP 6.7 6.75 6.62 6.7 6.6 6.7 230,800 1,527,299 MG HLDG 0.395 0.4 0.46 0.46 0.39 0.4 88,990,000 36,749,000 7.35 7.39 7.38 7.39 7.17 7.39 139,600 1,022,235 SHAKEYS PIZZA ROXAS AND CO 1.16 1.18 1.19 1.2 1.14 1.18 6,850,000 7,961,750 4.63 4.73 4.74 4.74 4.61 4.61 23,000 108,760 RFM CORP 1.64 1.71 1.63 1.64 1.63 1.64 7,000 11,430 ROXAS HLDG SWIFT FOODS 0.158 0.159 0.162 0.174 0.147 0.158 167,100,000 27,319,630 146.5 146.8 146.5 148.5 145 146.8 761,200 111,774,594 UNIV ROBINA VITARICH 0.94 0.95 0.95 0.96 0.93 0.95 5,269,000 4,948,000 VICTORIAS 2.23 2.3 2.28 2.3 2.28 2.3 15,000 34,460 56 59.85 56 56 56 56 400 22,400 CONCRETE B CEMEX HLDG 1.41 1.42 1.42 1.42 1.39 1.41 3,642,000 5,128,580 DAVINCI CAPITAL 7 7.04 7.12 7.26 6.9 7 1,397,400 9,954,568 13.24 13.4 13.5 13.8 13.24 13.4 6,576,100 88,196,794 EAGLE CEMENT EEI CORP 8.11 8.12 7.72 8.2 7.72 8.12 2,971,800 24,028,149 6.49 6.5 6.35 6.49 6.35 6.49 600,300 3,844,517 HOLCIM 7.61 7.69 7.36 7.78 7.26 7.69 1,536,000 11,580,920 MEGAWIDE PHINMA 10.06 10.34 10.1 11 9.82 10.04 179,500 1,823,898 1.23 1.27 1.29 1.31 1.23 1.23 1,218,000 1,529,060 TKC METALS VULCAN INDL 2.59 2.6 2.65 2.69 2.47 2.59 19,091,000 49,542,310 CHEMPHIL 150 174.9 150 150 138 149 370 54,660 1.78 1.79 1.79 1.81 1.78 1.79 93,000 166,260 CROWN ASIA EUROMED 2.22 2.24 2.2 2.25 2.2 2.22 109,000 241,160 4.71 4.95 4.68 4.98 4.68 4.71 22,000 104,210 LMG CORP 5.85 6 5.82 6 5.8 6 286,600 1,676,276 PRYCE CORP CONCEPCION 20.2 20.45 20.6 20.6 19.9 20.4 22,100 446,036 2.91 2.95 2.98 2.98 2.9 2.91 14,291,000 42,089,410 GREENERGY 12.62 12.66 12.42 12.76 12.02 12.62 3,515,200 43,868,304 INTEGRATED MICR IONICS 1.19 1.2 1.21 1.25 1.19 1.2 664,000 797,510 1.51 1.55 1.5 1.65 1.5 1.55 3,835,000 5,958,690 SFA SEMICON CIRTEK HLDG 7.21 7.22 7.1 7.23 6.81 7.21 7,469,300 52,290,459
32,299,561 26,900 4,929,620 37,900 11,214,565 -1,022,869.50 -36,822,238 901,558 292,820 -314,026 1,159,020 -257,913 -252,040 12,420 -1,832,502 -135,400 1,428,384 190,624 -2,032,207.50 109,150 1,719,380 -51,276,858 59,568 -3,242,550 49,491 -3,368,920 -94,800 -383,300 27,962,116 108,660 550,600 14,000 -83,827,610 1,250,104 15,456 3,103,199 -3,770 1,366,160 -2,910 -329,360 789,600 17,330,166 -35,700 86,150 -871,140
HOLDING & FRIMS ABACORE CAPITAL 1.22 1.24 1.29 1.29 1.22 1.23 33,827,000 42,142,940 8.76 8.77 8.34 8.99 8.34 8.76 109,700 958,239 ASIABEST GROUP AYALA CORP 800 802 790.5 804.5 787 802 195,110 155,881,220 44 44.05 44.75 44.75 43.65 44 854,500 37,630,330 ABOITIZ EQUITY 10.12 10.14 10 10.2 9.95 10.12 4,920,500 49,541,896 ALLIANCE GLOBAL AYALA LAND LOG 3.16 3.17 3.14 3.17 3.12 3.16 2,865,000 9,041,870 6.7 6.9 6.93 6.93 6.7 6.7 23,800 163,040 ANSCOR ANGLO PHIL HLDG 0.86 0.87 0.94 0.94 0.84 0.86 6,724,000 5,885,440 ATN HLDG A 0.85 0.86 0.85 0.88 0.84 0.86 1,571,000 1,334,910 5.21 5.22 5.2 5.24 5.19 5.21 2,870,000 14,973,881 COSCO CAPITAL DMCI HLDG 5.39 5.4 5.3 5.43 5.29 5.4 4,844,600 26,064,472 8.85 9.12 9 9.12 8.78 8.85 15,000 132,770 FILINVEST DEV 0.226 0.243 0.226 0.226 0.226 0.226 200,000 45,200 FORUM PACIFIC GT CAPITAL 540 547 538 554 538 540 226,490 123,825,745 3.84 3.88 3.8 3.9 3.8 3.88 116,000 448,340 HOUSE OF INV 67 67.9 66.75 67.9 66.05 67.9 879,970 59,428,195.50 JG SUMMIT KEPPEL HLDG A 5.25 5.68 5.68 5.68 5.25 5.68 6,100 32,928 1.37 1.38 1.45 1.51 1.33 1.37 20,363,000 28,859,450 LODESTAR LOPEZ HLDG 3.72 3.73 3.8 3.8 3.72 3.72 646,000 2,413,700 LT GROUP 14.9 14.92 14.98 15.02 14.6 14.9 1,329,900 19,744,686 0.53 0.54 0.53 0.55 0.52 0.54 279,000 150,560 MABUHAY HLDG METRO PAC INV 4.3 4.36 4.26 4.36 4.21 4.36 19,303,000 83,008,280 4.61 4.78 4.6 4.8 4.55 4.75 99,000 459,550 PACIFICA HLDG 1.1 1.11 0.93 1.13 0.92 1.1 8,248,000 8,735,630 PRIME MEDIA REPUBLIC GLASS 2.86 2.95 2.97 2.97 2.97 2.97 5,000 14,850 1.2 1.26 1.2 1.24 1.18 1.23 244,000 300,100 SOLID GROUP 312 315 312 315 312 315 120 37,500 SYNERGY GRID SM INVESTMENTS 1,020 1,030 1,020 1,048 1,013 1,020 219,285 224,217,990 127.9 128.8 128.9 128.9 126.6 128.8 71,670 9,164,696 SAN MIGUEL CORP SOC RESOURCES 0.81 0.82 0.77 0.82 0.77 0.82 141,000 112,520 2.45 2.78 2.79 2.79 2.45 2.45 15,000 38,790 SEAFRONT RES 138.1 142 139.9 140 138.1 138.1 5,840 816,434 TOP FRONTIER ZEUS HLDG 0.229 0.235 0.239 0.25 0.228 0.23 1,370,000 322,570
1,133,910 -34,400 12,651,360 15,385,305 -18,619,598 -31,500 72,360 86,500 477,802 -4,308,358 -28,467,885 -131,400 -8,817,663 73,500 -690,290 -3,591,098 33,849,300 -41,410 -74,601,865 -47,034 -371,234 -
PROPERTY ARTHALAND CORP 0.68 0.7 0.7 0.7 0.68 0.7 649,000 447,410 40.75 40.8 39.85 40.75 39.55 40.75 9,445,400 380,365,815 AYALA LAND ARANETA PROP 1.27 1.33 1.26 1.33 1.26 1.33 36,000 47,670 32.85 32.9 32.8 32.95 32.7 32.9 1,080,300 35,494,340 AREIT RT 1.64 1.65 1.62 1.65 1.61 1.64 254,000 415,270 BELLE CORP A BROWN 0.97 0.98 0.98 1.01 0.95 0.97 6,631,000 6,545,410 0.78 0.8 0.79 0.79 0.78 0.78 72,000 56,270 CITYLAND DEVT CROWN EQUITIES 0.152 0.154 0.152 0.159 0.148 0.154 5,140,000 783,660 5.68 5.89 5.63 5.89 5.63 5.89 1,400 8,196 CEBU HLDG 5.11 5.13 5.13 5.15 5.1 5.13 219,200 1,123,639 CEB LANDMASTERS CENTURY PROP 0.415 0.425 0.43 0.43 0.41 0.415 5,710,000 2,378,800 0.35 0.36 0.365 0.365 0.35 0.36 510,000 182,500 CYBER BAY 14.8 14.82 15 15.1 14.74 14.82 1,068,500 15,889,624 DOUBLEDRAGON DM WENCESLAO 6.94 7 7 7 6.94 7 208,600 1,457,636 0.295 0.305 0.305 0.31 0.28 0.305 9,450,000 2,790,250 EMPIRE EAST 0.092 0.095 0.095 0.095 0.094 0.095 170,000 16,050 EVER GOTESCO FILINVEST LAND 1.21 1.22 1.2 1.23 1.19 1.21 11,353,000 13,740,710 0.88 0.9 0.88 0.89 0.88 0.89 27,000 23,860 GLOBAL ESTATE 8990 HLDG 7.6 7.7 7.86 7.86 7.55 7.7 269,500 2,048,460 PHIL INFRADEV 1.47 1.49 1.48 1.55 1.47 1.47 13,361,000 20,074,620 3 3.09 3.01 3.05 3 3.05 25,000 75,670 KEPPEL PROP MEGAWORLD 3.97 3.99 4 4.01 3.96 3.97 8,428,000 33,579,740 0.48 0.485 0.495 0.5 0.475 0.48 94,230,000 45,673,300 MRC ALLIED 0.4 0.415 0.4 0.4 0.4 0.4 860,000 344,000 PHIL ESTATES PRIMEX CORP 1.49 1.51 1.49 1.87 1.49 1.49 18,465,000 29,834,550 19.12 19.14 19.6 19.7 19.04 19.12 8,863,100 169,523,740 ROBINSONS LAND 0.295 0.305 0.315 0.315 0.295 0.305 470,000 143,550 PHIL REALTY ROCKWELL 1.44 1.45 1.45 1.47 1.43 1.45 2,309,000 3,348,350 2.6 2.65 2.65 2.66 2.6 2.6 344,000 895,630 SHANG PROP STA LUCIA LAND 2.22 2.28 2.25 2.38 2.21 2.28 3,014,000 6,756,450 SM PRIME HLDG 37.45 37.8 38.7 38.7 37.45 37.45 5,791,700 218,630,490 4.01 4.09 4.02 4.09 3.98 4.01 43,000 172,580 VISTAMALLS SUNTRUST HOME 1.8 1.83 1.81 1.86 1.8 1.8 1,581,000 2,874,320 4.45 4.49 4.32 4.54 4.29 4.45 1,881,000 8,336,360 VISTA LAND
10,500 142,784,480 -13,807,160 -6,570 -39,900 212,600 1,348,128 181,000 -378,220 7,600 -204,380 -4,436,720 -771,200 37,900 -114,300,304 633,190 803,400 -138,600 -95,398,760 3,460 -1,061,640
SERVICES ABS CBN 12.7 12.8 12.7 12.8 12.5 12.7 121,600 1,543,320 6.41 6.42 6.35 6.43 6.28 6.41 2,402,100 15,297,482 GMA NETWORK MANILA BULLETIN 0.485 0.49 0.49 0.51 0.485 0.49 1,130,000 552,850 11.02 11.5 11.2 11.5 11.2 11.5 2,200 25,270 MLA BRDCASTING 2,018 2,020 2,026 2,030 2,016 2,020 38,970 78,806,320 GLOBE TELECOM PLDT 1,361 1,363 1,371 1,398 1,361 1,361 134,385 184,268,260 0.212 0.213 0.201 0.215 0.197 0.213 1,391,340,000 288,697,620 APOLLO GLOBAL CONVERGE 18.1 18.12 17.16 18.18 17.16 18.12 21,929,500 390,629,856 DFNN INC 5.12 5.15 5.14 5.38 5.12 5.12 1,879,600 9,785,405 16.4 16.42 14.92 16.4 14.8 16.4 144,786,100 2,261,647,970 DITO CME HLDG IMPERIAL 1.98 2 2 2.02 2 2 46,000 92,100 0.198 0.199 0.189 0.205 0.184 0.199 167,700,000 33,127,260 ISLAND INFO 2 2.06 1.99 2.16 1.98 2 261,000 526,730 JACKSTONES NOW CORP 3.53 3.54 3.45 3.55 3.42 3.53 4,715,000 16,392,670 0.37 0.375 0.385 0.39 0.365 0.37 27,880,000 10,317,850 TRANSPACIFIC BR 2.65 2.67 2.79 2.8 2.6 2.65 724,000 1,933,640 PHILWEB 2GO GROUP 8.39 8.4 8.55 8.55 8.36 8.39 59,200 497,266 14.7 15.4 14.7 14.7 14.7 14.7 100 1,470 ASIAN TERMINALS CHELSEA 4.84 4.85 4.58 4.88 4.58 4.85 4,839,000 23,081,180 CEBU AIR 48 48.05 48.5 48.6 48 48 413,700 19,891,190 124 124.5 123.6 125.8 123.1 124.5 491,220 61,138,031 INTL CONTAINER LBC EXPRESS 15.84 16.56 16.58 16.58 15.8 16.56 5,600 90,338 0.98 1 0.97 1 0.97 1 64,000 62,530 LORENZO SHIPPNG 5.71 5.72 5.44 5.75 5.44 5.72 1,681,100 9,450,042 MACROASIA METROALLIANCE A 3 3.01 3.08 3.1 2.93 3.01 2,216,000 6,650,120 6.5 6.65 6.5 6.75 6.47 6.65 39,700 262,292 PAL HLDG 1.4 1.42 1.45 1.45 1.37 1.4 1,423,000 1,993,500 HARBOR STAR DISCOVERY WORLD 4.85 4.9 4.82 5.2 4.82 4.9 4,999,000 24,882,200 10.08 11.48 10.08 10.08 10.08 10.08 300 3,024 GRAND PLAZA WATERFRONT 0.52 0.53 0.55 0.57 0.52 0.53 8,887,000 4,722,890 CENTRO ESCOLAR 6.55 7 7.05 7.05 7 7 4,600 32,280 668 670 569 670 569 668 1,170 749,160 FAR EASTERN U IPEOPLE 8.08 8.5 8.1 8.76 8.1 8.5 9,500 78,462 0.395 0.4 0.4 0.405 0.395 0.4 4,980,000 1,992,100 STI HLDG 4.38 4.69 5.29 5.29 4.3 4.37 20,000 99,950 BERJAYA BLOOMBERRY 7.84 7.85 7.79 7.87 7.7 7.85 1,139,600 8,907,291 2.04 2.09 2.05 2.05 2.03 2.03 21,000 42,790 PACIFIC ONLINE LEISURE AND RES 1.78 1.79 1.85 1.85 1.74 1.79 174,000 305,930 2.1 2.18 2.12 2.12 2.1 2.1 6,000 12,700 MANILA JOCKEY 2.84 2.85 2.74 2.85 2.72 2.85 8,785,000 24,752,630 PH RESORTS GRP PREMIUM LEISURE 0.455 0.46 0.46 0.465 0.455 0.46 1,910,000 876,300 PHIL RACING 6.5 6.6 6.5 6.5 6.5 6.5 30,000 195,000 8.63 8.7 8.7 8.79 8.59 8.63 1,444,400 12,512,712 ALLHOME METRO RETAIL 1.44 1.45 1.46 1.46 1.44 1.45 984,000 1,422,510 38.65 38.7 38.7 38.85 38.4 38.7 2,261,600 87,487,760 PUREGOLD 56.9 57 58.2 58.2 57 57 1,357,570 78,021,750.50 ROBINSONS RTL PHIL SEVEN CORP 101.7 102.9 105 105 101 102.9 79,250 8,061,895 1.45 1.46 1.39 1.45 1.37 1.45 7,183,000 10,190,590 SSI GROUP WILCON DEPOT 17.98 18 17.98 18.3 17.9 18 4,266,400 76,892,228 APC GROUP 0.445 0.455 0.45 0.46 0.445 0.445 5,200,000 2,351,350 6.91 7.13 7.16 7.16 6.91 6.91 44,400 309,821 EASYCALL GOLDEN MV 437 450 450 450 450 450 200 90,000 4.61 5.2 5.25 5.25 5.25 5.25 1,200 6,300 IPM HLDG 2.6 2.61 2.6 2.63 2.51 2.6 61,499,000 158,734,300 PRMIERE HORIZON SBS PHIL CORP 4.75 4.98 4.85 4.98 4.75 4.98 5,000 24,310
-3,066,550 15,740,000 14,082,700 -58,426,174.00 515,830 47,938,428 783,430 1,411,110 808,000 -40,220 -99,120 870,490 1,375,180 11,762,187 581,722 650 -31,290 2,100,000 -191,600 -1,468,000 -63,266 -5,620 18,250 4,629,522.00 -526,550 7,258,410 -419,133.50 -43,043 12,490.00 5,425,854 2,435,490 -
MINING & OIL ATOK 6.79 6.99 7.11 7.11 6.75 7 861,100 5,920,867 1,551,664 APEX MINING 1.57 1.58 1.55 1.58 1.55 1.57 1,529,000 2,388,550 466,660 0.0053 0.0054 0.0057 0.0057 0.005 0.0053 24,352,000,000 130,188,100 404,900 ABRA MINING 5.57 5.6 5.72 5.75 5.55 5.57 1,542,400 8,667,858 17,873 ATLAS MINING BENGUET A 3.01 3.18 3.05 3.2 3.01 3.19 122,000 368,170 2.99 3.05 3 3 3 3 3,000 9,000 3,000 BENGUET B COAL ASIA HLDG 0.3 0.305 0.3 0.305 0.295 0.3 1,900,000 567,350 -29,500 CENTURY PEAK 2.72 2.81 2.72 2.72 2.72 2.72 2,000 5,440 8.9 8.95 8.78 8.98 8.68 8.95 30,800 270,832 17,560 DIZON MINES FERRONICKEL 2.68 2.69 2.62 2.74 2.61 2.69 10,863,000 29,194,240 -2,475,570 0.405 0.41 0.41 0.41 0.38 0.405 3,840,000 1,532,800 -143,500 GEOGRACE 0.154 0.155 0.155 0.158 0.152 0.154 21,630,000 3,355,720 LEPANTO A LEPANTO B 0.155 0.16 0.16 0.16 0.155 0.16 550,000 86,670 0.01 0.011 0.01 0.011 0.01 0.01 115,900,000 1,172,300 MANILA MINING A 0.01 0.011 0.011 0.011 0.01 0.01 8,700,000 87,400 MANILA MINING B MARCVENTURES 1.48 1.49 1.45 1.51 1.44 1.49 3,167,000 4,694,480 1,895,810 2.66 2.72 2.69 2.74 2.64 2.72 37,000 99,380 37,520 NIHAO NICKEL ASIA 5.65 5.68 5.41 5.72 5.41 5.65 14,151,800 79,628,759 10,086,632 OMICO CORP 0.415 0.44 0.44 0.44 0.44 0.44 440,000 193,600 1.09 1.1 1.12 1.16 1.08 1.1 3,485,000 3,897,600 5,000 ORNTL PENINSULA PX MINING 4.26 4.27 4.2 4.32 4.2 4.26 556,000 2,377,550 98,480 12.74 12.76 12.84 12.9 12.76 12.76 1,243,700 15,928,874 -258,920 SEMIRARA MINING 0.01 0.011 0.011 0.012 0.01 0.01 818,100,000 8,505,600 1,100 UNITED PARAGON ACE ENEXOR 21.15 21.2 18.82 22.5 18.08 21.2 1,649,900 33,428,990 -62,845 0.013 0.014 0.014 0.015 0.013 0.013 356,400,000 4,918,400 ORNTL PETROL A 0.014 0.015 0.014 0.014 0.014 0.014 11,100,000 155,400 ORNTL PETROL B PHILODRILL 0.014 0.015 0.015 0.016 0.014 0.014 742,300,000 10,579,900 163,300 9.14 9.3 9.4 9.4 9.1 9.14 1,299,900 11,889,932 1,620,917 PXP ENERGY PREFFERED HOUSE PREF A 100.5 102 100 100 100 100 1,740 174,000 516 - 516 516 516 516 8,220 4,241,520 AC PREF B1 ALCO PREF B 102 104.2 102 102.1 102 102 16,360 1,668,770 512 522 512 512 512 512 240 122,880 AC PREF B2R 102.2 104.4 102.1 102.1 102.1 102.1 200 20,420 CPG PREF A FPH PREF C 500 550 500 500 500 500 50 25,000 1,000 1,030 1,030 1,030 1,030 1,030 5 5,150 GTCAP PREF A GTCAP PREF B 1,028 1,035 1,031 1,035 1,031 1,035 4,430 4,578,700 100.8 101 101 101 101 101 13,880 1,401,880 MWIDE PREF 101 101.6 101 101.6 101 101.6 1,080 109,158 MWIDE PREF 2B PNX PREF 4 1,009 1,010 1,010 1,010 1,010 1,010 5,115 5,166,150 1,015 1,050 1,049 1,049 1,015 1,015 110 111,820 PCOR PREF 2B 1,093 1,094 1,093 1,093 1,093 1,093 175 191,275 PCOR PREF 3A PCOR PREF 3B 1,110 1,128 1,110 1,110 1,110 1,110 120 133,200 1.6 1.75 1.76 1.76 1.5 1.6 64,000 102,850 SFI PREF 79.35 79.5 79.35 80.9 79.3 79.5 25,280 2,009,218.50 SMC PREF 2C SMC PREF 2E 76 77 77 77 77 77 1,000 77,000 78 79.1 79.1 79.1 79 79 8,210 648,941 SMC PREF 2F SMC PREF 2H 76.5 77.5 77 77 77 77 1,100 84,700 77.3 78 76.95 76.95 76.95 76.95 100 7,695 SMC PREF 2I 76.2 76.3 76.05 76.3 76 76.2 8,820 672,020 SMC PREF 2J SMC PREF 2K 76.25 76.3 76.25 76.3 76.25 76.25 6,500 495,709 PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 12.5 12.98 12.5 12.5 12.5 12.5 7,200 90,000 -90,000 6.21 6.35 6.34 6.34 6.15 6.21 224,500 1,409,666 610,610 GMA HLDG PDR WARRANTS LR WARRANT 0.9 0.94 0.9 0.96 0.9 0.91 168,000 154,170 - SMALL & MEDIUM ENTERPRISES ALTUS PROP 21.1 21.45 22.7 22.75 20.25 21.1 800,500 17,344,815 -200,860 3.02 3.04 3.06 3.11 3 3.02 2,982,000 9,032,170 -27,300 ITALPINAS KEPWEALTH 5.95 6.1 6 6.1 6 6 38,100 228,740 3.02 3.43 3.42 3.43 3 3 20,000 64,210 MAKATI FINANCE 7.06 7.07 6.81 7.12 6.81 7.06 27,593,300 193,311,624 -399,219 MERRYMART EXHANGE TRADE FUNDS FIRST METRO ETF 105.5 106 106.5 106.5 105 106 12,300 1,297,779 140,355
www.businessmirror.com.ph
Globe constructs new cell towers to beef up network
G
By Lorenz S. Marasigan
@lorenzmarasigan
lobe Telecom Inc. has installed 39 new cell towers in underserved areas across the country, claiming that these new towers in 23 provinces will “improve the call, SMS and data experience of more than 100,000 current Globe and future customers.” Joel Agustin, Globe SVP for Program Delivery, said the new towers are in Agusan Del Norte, Bukidnon, Davao City, Davao Oriental, Maguindanao, Agusan del Sur, Coron, Puerto Princesa, Camarines Norte, Camarines Sur, Marinduque, Mindoro, Oriental Mindoro, and Quezon. The towers were also deployed in Leyte, Bohol, Capiz, Cebu, Cebu
City, Guimaras, Negros Occidental, Aurora, Cagayan, Isabela, and La Union. “This is just the start because Globe recognizes the value of connectivity as the rest of the country continues to cope with the demands of the new normal,” Agustin said. He noted that more installations are underway as Globe is
targeting to build at least 2,000 new cell towers this year. “Our aggressive network builds and investments in areas that matter to us, where our customers need the service they deserve, will continue in 2021. Our rollouts in previously underserved areas will set the stage for more builds as we reach out to more far-flung areas in the country,” Agustin added. Globe is spending P70 billion in capital expenditures this year to further expand its network through the installation of new cell towers and the deployment of more fiber optic lines across
the country. The company said its “rigorous network improvements” over the past months has contributed largely to the total internet speed readings across the Philippines. Data shows one of the biggest jumps in mobile internet speeds in the past few months, the company claimed. According to Ook la, which tests and analyze internet speeds, Globe has been registering better consistency scores in 16 of 17 regions in the fourth quarter last year compared to the third quarter.
‘Composition of PSEi remains intact’ T he Philippine Stock Exchange, Inc. (PSE) said on Monday that the PSE index (PSEi) will see no changes in its composition based on the regular stock performance review for the January to December 2020 period. Only companies with common stocks listed in the main board of the PSE for at least 12 months during the review period are eligible for inclusion in the PSEi and sector indices. To further qualify for inclusion in the PSEi, a listed company should be among the top companies in terms of liquidity and market capitalization. A listed company should also have a free float level of at least 15 percent of its outstanding shares. The PSE also takes into account relevant financial criteria in the review. In terms of sector indices, 10 companies will be added while 7 will be removed. Among the 10 listed firms are the three companies that listed on the main board in 2019 namely Axelum Resources Corp. (A XLM), AllHome Corp. (HOME), and Fruitas Holdings, Inc. (FRUIT). “We are pleased that these companies were included in the indices of their respective sectors
after their first review period. This is an indication that investor interest in these stocks continued even after their initial public offering,” said President and CEO Ramon S. Monzon. AXLM and FRUIT will become constituents of the Industrial Sector together with Agrinurture, Inc., Phoenix Petroleum Philippines, Inc., Roxas and Company, Inc., and SFA Semicon Philippines Corp. Meantime, A l liance Select Foods International, Inc. will be excluded from the same sector. HOME, Metro Alliance Holdings and Equities Corp., and Philippine Seven Corp. will form part of the Services Sector, which will also see the removal of Leisure and Resorts World Corp.. To be included in the Mining and Oil Sector is Lepanto Consolidated Mining Company while Belle Corp., Global-Estate Resorts, Inc., 8990 Holdings, Inc., Primex Corp. and Sta. Lucia Land, Inc. will all be taken out from the Property Sector. There are no changes in the Financials and Holding Firms Sectors. The new composition of sectoral indices will take effect on February 15.
AFAB taps Citicore for solar project
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he Authority of the Freeport Area of Bataan (AFAB) has tapped Citicore Power Inc. to develop a solar rooftop project with a total capacity of 6.64 megawatts (MW) for its locators in Mariveles, Bataan. Citicore President Oliver Tan said the project involves the construction of solar rooftop systems that have 14,756 pieces of monocrystalline photovoltaic panels with 450 watts power class and string inverter with 60KW capacity and can generate electricity up to 6,554 gigawatt hours annually. This will power up 14 buildings of AFAB locators in Bataan. “We aspire to help more businesses to harness the power of the
sun and we hope other companies will follow AFAB’s example. This solar installation demonstrates that with innovative energy solutions and collaboration among partners, solar energy can provide cost-effective solutions for electricity generation,” Tan said. Already, one of the buildings has already been commissioned, delivering power to AFAB’s locators. The project is expected to reduce AFAB’s carbon footprint by over 9,000 tons every year. Citicore currently owns and operates eight solar farms across the country. It plans to add 1.5 GW to its current capacity in the next 5 years. Lorenz S. Marasigan
mutual funds
February 8, 2021
NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 222.79 -8.37% -8.79% -1.19% -1.95% ATRAM Alpha Opportunity Fund, Inc. -a 1.2963 2.99% -7.23% 4.46% -1.27% ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.0706 -9.38% -12.76% -2.38% -1.99% Climbs Share Capital Equity Investment Fund Corp. -a 0.7817 -8.04% -7.87% n.a. -2.76% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.7106 -13.52% n.a. n.a. -4.18% First Metro Save and Learn Equity Fund,Inc. -a 4.8464 -5.32% -6.89% -0.34% -1.92% First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.7236 -11.43% -9.94% -5.82% -4.76% MBG Equity Investment Fund, Inc. -a 98.72 2.97% -5.7% n.a. -3.16% PAMI Equity Index Fund, Inc. -a 45.9933 -6.45% -6.8% 0.53% -1.82% Philam Strategic Growth Fund, Inc. -a 479.45 -6.5% -6.78% -0.27% -1.95% Philequity Alpha One Fund, Inc. -a,d,5 1.0655 6% n.a. n.a. -2.9% Philequity Dividend Yield Fund, Inc. -a 1.1533 -7.14% -6.37% 0.61% -1.28% Philequity Fund, Inc. -a 34.1694 -6.22% -6.25% 1.25% -1.73% Philequity MSCI Philippine Index Fund, Inc. -a 0.8957 -9.14% n.a. n.a. -1.89% Philequity PSE Index Fund Inc. -a 4.705 -6.1% -6.39% 1.29% -1.8% Philippine Stock Index Fund Corp. -a 787.26 -5.9% -6.26% 1.23% -1.79% Soldivo Strategic Growth Fund, Inc. -a 0.7052 -10.47% -10.3% -2.91% -1.91% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.5571 -10.93% -8.4% -0.34% -1.84% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.9007 - 6.2% -6.58% 1.05% -1.85% United Fund, Inc. -a 3.2745 -6.87% -5.38% 1.77% -1.34% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 105.6512 -5.87% -6.05% 1.96% -1.77% Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b $1.3179 31.53% 4.99% 11.09% 9.56% Sun Life Prosperity World Voyager Fund, Inc. -a $1.7421 23.23% 11.13% n.a. 4.14% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.6552 7.87% -3.78% -0.27% -0.8% ATRAM Philippine Balanced Fund, Inc. -a 2.2586 7.1% -2.78% 1.72% -1.17% First Metro Save and Learn Balanced Fund Inc. -a 2.5928 0.87% -2.31% 0.38% -1.3% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1957 -11.33% n.a. n.a. -1.46% NCM Mutual Fund of the Phils., Inc. -a 1.9586 1.07% -0.63% 2.19% -0.27% PAMI Horizon Fund, Inc. -a 3.7468 0.91% -1.48% 1.38% -1.09% Philam Fund, Inc. -a 16.7588 0.87% -1.53% 1.32% -1.05% 1.1% Solidaritas Fund, Inc. -a 2.0724 -0.65% -2.68% -1.04% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.5397 -5.36% -4.29% 0.24% -0.94% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 1.0121 1.65% n.a. n.a. -1.03% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.9347 -3.11% n.a. n.a. -1.53% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.9178 -4.42% n.a. n.a. -1.64% Sun Life Prosperity Dynamic Fund, Inc. -a 0.8797 -6.1% -4.97% -0.39% -0.9% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03879 0.41% 3.01% 1.83% -0.84% PAMI Asia Balanced Fund, Inc. -b $1.213 18.89% 4.72% 7.66% 5.46% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.645 16.46% 8.28% 9.48% 2.93% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.2128 8% 4.35% n.a. 0.89% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 371.44 3.63% 3.26% 2.75% 0.1% ATRAM Corporate Bond Fund, Inc. -a 1.9039 -0.14% 0.4% 0.15% 0.19% Cocolife Fixed Income Fund, Inc. -a 3.2187 2.77% 4.35% 4.73% 0.12% Ekklesia Mutual Fund Inc. -a 2.2965 2.8% 2.93% 2.28% 0.02% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4496 3.84% 3.41% 2.13% -0.15% 2.83% Philam Bond Fund, Inc. -a 4.6375 5.81% 4.89% 0.06% Philam Managed Income Fund, Inc. -a,6 1.3231 5.61% 4.48% 2.74% 0.14% Philequity Peso Bond Fund, Inc. -a 3.9851 5.54% 4.5% 2.75% -0.4% Soldivo Bond Fund, Inc. -a 1.0393 7.4% 4.35% 2.4% -0.26% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.2053 4.2% 4.68% 3.36% -0.02% Sun Life Prosperity GS Fund, Inc. -a 1.7499 3.29% 3.93% 2.77% -0.29% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $484.88 3.05% 2.99% 2.8% 0.21% ALFM Euro Bond Fund, Inc. -a Є219.4 -0.45% 0.95% 1.27% 0.1% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2689 4.69% 4.12% 2.85% -0.9% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0264 1.93% 2.11% 1.59% -0.75% PAMI Global Bond Fund, Inc -b $1.09 -1.35% 1.09% 0.17% -0.25% Philam Dollar Bond Fund, Inc. -a $2.5286 3.83% 4.7% 3.23% -0.28% Philequity Dollar Income Fund Inc. -a $0.0625143 3.04% 3.22% 2.36% 0.31% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.2097 -0.78% 2.65% 2.03% -0.43% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 130 2.99% 3.35% 2.58% 0.15% First Metro Save and Learn Money Market Fund, Inc. -a 1.049 2.29% n.a. n.a. 0.09% Sun Life Prosperity Money Market Fund, Inc. -a 1.2984 2.37% 2.94% 2.61% 0.14% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0536 1.4% 1.77% n.a. 0.11% Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 1.1647 n.a. n.a. n.a. 3.11% Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $0.99 0% n.a. n.a. 1.02%
a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. d - in Net Asset Value per Unit (NAVPU). 1 - Launch date is September 28, 2019. 2 - Launch date is November 15, 2019. 3 - Adjusted due to stock dividend issuance last October 9, 2019. 4 - Renaming was approved by the SEC last October 12, 2018 (formerly, One Wealthy Nation Fund, Inc.). 5 - Launch date is December 09, 2019. 6 - Re-classified into a Bond Fund starting February 21, 2020 (Formerly a Money Market Fund). 7 - Launch date is July 6, 2020. "While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www. pifa.com.ph to see the latest NAVPS/NAVPU."
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Banking&Finance BusinessMirror
Asia United Bank moves to hasten loan approvals By Tyrone Jasper C. Piad @Tyronepiad
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SIA United Bank Corp. (AUB) aims to accelerate processing of loans and other financial products by becoming an accessing entity in the country’s central credit registry. In a statement on Monday, the Credit Information Corp. (CIC) said that the listed bank has recently onboarded with the central credit information repository. AUB is now authorized to access borrowers’ credit reports through CIC’s database, CIBI Information Inc., CRIF D-B Philippines Inc. and Transunion Information Solutions Inc. “Being an accessing entity of the CIC means that we have ready access to comprehensive credit reports which will then expedite the process of granting loans and other financial services to our wide range of consumers including SMEs (small and medium enterprises) and even corporations,” AUB First Vice President Ma. Magdalena V. Surtida said. “This is a testament to our commitment to fully understand and anticipate our clients’ needs.” Aileen L. Amor-Bautista, Senior Vice President for Business Development and Communications of CIC, said AUB is a “significant addition” to the agency’s growing list of accessing entities. These include major universal and commercial banks, savings and loan associations, rural banks, cooperatives, thrift banks and government lending institutions.
Amor-Bautista said this “attests to the usability of the CIC database which contains the credit history of almost 23 million Filipino borrowers with more than 80 million contract data.” She added that the borrowers are the ultimate beneficiaries of having a credit repository because financial institutions will have access to credit reports when assessing loans. Apart from AUB, other recently onboarded accessing entities are Cooperative Bank of Quezon Province, Philippine Star Development Bank, Kviku Lending Co. Ltd., Rural Bank of Central Pangasinan and The Insular Life Assurance Co. Ltd. “We are glad that these financial institutions are complying with the requirements for accessing entities; they are recognizing the value of the credit registry, and they are seeing an actual solutions partner in CIC,” Amor-Bautista said. In the first nine months of 2020, AUB’s net earnings were flat at P3.8 billion despite operating income rising by 25 percent to P11.5 billion due to robust core businesses. The bank’s bottom-line figures were tempered by the four-fold increase in credit loss provisions amounting to P3 billion for the period. AUB’s borrowings portfolio improved by 4 percent to P165.4 billion in January to September of 2020 from P158.6 billion in the comparable period in 2019. Nonperforming loans (NPL) ratio stood at 2.2 percent while NPL coverage was at 96.3 percent. As of end-September 2020, the bank has total assets of P290.1 billion.
BSP complaint filed vs BDO on holding back remittance
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complaint has been filed with the Bangko Sentral ng Pilipinas (BSP) against BDO Unibank for having withheld the release of a remittance sent to a beneficiary just because he cannot state the birthdate of the remitter from California, United States of America. Now docketed as CX-2021-0127001-ENP at the BSP’s Consumer Protection and Market Conduct Office, Pateros senior citizen Hipolito U. Gagni filed the complaint for the denial of the $200 (about P9,614) because of what he said was the additional burden of having to provide the birthdate of the remitter, Alfredo Ruiz Tutaan, even after he has satisfied all the requirements that he is the beneficiary of the said remittance. “I am filing a complaint against BDO Unibank, specifically its Katipunan Branch where I was denied the money meant for me via remittance that was sent to me and for which I was sent a text message from BDO-Remit informing me of a remittance that was sent to me from California, USA, simply because I cannot provide the birthdate of the remitter,” the lettercomplaint said. According to the complaint, “the incident happened before 4 p.m. of January 26.” “I was told that I can get the money remitted and converted to P9,614 as per the receipt from the remitter who sent me the same via messenger on my FB [Facebook] page ONLY upon my providing the birthdate of the remitter.” “The need for the birthdate of the remitter is apparently a requirement that BDO Unibank has set forth for its bank employees concerning the release of the amount remitted. I would like then to file this complaint for the
Bangko Sentral ng Pilipinas (BSP) to come out with a Memorandum Circular that would address this additional requirement, an unnecessary burden being imposed for Over-the-Counter satisfaction of the BDO rule that sets an extra layer of burden for a beneficiary of a remittance,” the letter-complaint said. In the letter-complaint, Gagni said that he has presented one valid ID, his senior citizen ID card that matches the address therein to the receipt that Tutaan sent via messenger that was presented to a bank employee of the said Katipunan branch. Also, he showed his DWIZ ID that again matches the address. However, the remittance was denied him as he cannot state the birthdate of the remitter. Gagni said he is willing to wait a little longer for the disposal of the lettercomplaint as he has already told the remitter that there is a need for what he said “was a clear-cut” rule from the BSP on the matter of remittances. “The BSP should have a clearcut circular on this as a beneficiary , who is need of money to, say buy blood for a relative in the hospital, will be denied the remittance because he/she cannot state the birthdate of the remitter,” he said. “I am willing to wait a little longer to satisfy my knowledge that this additional burden is a requirement from the Bangko Sentral itself or just that of BDO Unibank. Anyway, the money that I was supposed to receive was to help for the purchase of a printer for a depressed community in San Fabian, Pangasinan, from where I came from, for the printing of the modules for the students of the said locality.”
Tuesday, February 9, 2021 B3
BTr doubles noncompetitive bids for T-bills as rates slink
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By Bernadette D. Nicolas
@BNicolasBM
HE Bureau of the Treasury raised P24 billion after auctioning off Treasury Bills (T-bills) on Monday as rates continue to follow a downtrend path.
This was an upsize from its initial P20-billion offer after the Treasury decided to double the non-competitive bids for 91-day and 182-day Tbills to P4 billion. National Treasurer Rosalia V. De Leon said the rates declined amid “temporary” price pressures.
The auction was oversubscribed by almost five times as total tenders reached P95.3 billion. “Liquidity remains strong with P20-billion maturity this week. Price pressures seen as temporary and will be alleviated with measures like price caps and food imports,” De Leon said
in a message to reporters. The 91-day T-bills settled at an average rate of 0.846 percent, falling by 7.1 basis points from the previous average rate of 0.917 percent. Tenders for the security amounted to P21.6 billion, more than four times the initial P5-billion offer. The average rate of the 182-day T-bills dropped by 11.6 basis points to 1.094 percent compared to 1.21 percent previously. Total bids for the tenor reached P29.83 billion, nearly six times the initial P5-billion offer. Lastly, the 364-day T-bills recorded an average rate of 1.446 percent, contracting by 4.6 basis points from previous auction’s 1.492 percent. The security attracted total tenders of P43.9 billion, more than four times the 10-billion offer.
Covey’s matrix to personal finance
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AVE you ever felt torn when it comes to which expenses should be prioritized? How about deferring preparation for something even though you know it is important? Or have you spent on something that either fulfills a temporary urge or does not provide value at all? To better address these familiar scenarios, one way to approach this issue is to use the time management quadrant of Stephen Covey. Covey’s matrix provides a framework in which we can categorize our expenses based on urgency and importance.
High importance, high urgency (HI-HU)
IN personal finance, these are the events that must be addressed immediately. Usually, events of high importance and urgency are emergencies with significant financial impact. Examples of such are hospitalization, house and car repairs, loss of income due to job redundancy and/or retrenchment or other medical concerns such as death, disability, etc. The two common ways to deal with these issues are through use of emergency funds and/or insurance so it is essential that the level of emergency funds is commensurate with the needs of the family (on average around 6-months’ worth of expenses this time of pandemic) and that the household has sufficient insurance coverage (complementary to any employment benefits).
Low importance, low urgency (LI-LU)
John Hero Salvador
personal finance Low importance, high urgency (LI-HU)
IN other words, cravings. These are usually impulses to buy something (usually of small value) when there is really no need for such item now, or perhaps in the future. Cravings have been more tempting and easier to satisfy especially now that things can be bought online and sometimes via credit. To manage cravings, always defer buying something that is not planned as this urge to buy usually goes away after few days or so. It is also suggested to decrease usage of online shopping apps and to buy things in cash if buying on credit results to uncontrolled spending. This is not to say that buying to satisfy your wants is inherently bad but, rather, it should be planned properly. It’s recommended that one sets aside a small amount each payday for such purchases. In a way, this guilt-free fund can be spent in any way chosen. Just remember that before allocation of financial resources to this fund, all other financial responsibilities should be addressed first.
THINGS or purchases under this category are not aligned with the household’s goals or priorities. Cash resources allocated for this category are basically wasted as it does not fulfill immediate need for the household nor provide any long-term fulfillment. In many cases, these purchases are usually small items that can be result of aimless spending and a household which has a poorly developed financial plan. In order to minimize expenditures under this category, a household should have a solid financial plan anchored on what really matters to the members of the household. Having a well-monitored cash flow statement and planned budget will also provide household with additional benchmarks to ensure that whatever financial resources they have are put into good use.
High importance, low urgency (HI-LU)
ONE can think of the expenditures under this category as the true financial goals of the household. Having a thorough understanding of what is important for the household will lead to development of financial plans centered on these goals. Take retirement for example. It is undeniably essential for any person to prepare for retirement and with this level of importance, a longer time
For this month, the Treasury programmed to borrow P140 billion from the local debt market, the same amount it planned to raise in January. Finance officials expect the national government’s debt this year to settle at 57 percent of gross domestic product (GDP) with a borrowing target of P3.03 trillion, roughly the same amount the state borrowed in 2020. The government posted a record-high outstanding debt of P9.795 trillion and a 14-year-high debt-to-GDP ratio of P54.5 percent. This came a year after the country recorded an outstanding debt level of P7.73 trillion as it snatched a historic low debt-to-GDP ratio of 39.6 percent.
horizon allows an individual to have more time preparing for it. Having a working financial plan as early as possible provides an individual or a household ample time to prepare for things that they need and want to achieve. The critical thing to remember here is that the individual or a household should know what really matters for them. An honest evaluation centered in knowing what will provide fulfillment will set the goals from which a financial plan can be created. Another reminder to bear in mind is that the low urgency of these important goals sometimes becomes a pitfall and reason for us to procrastinate until such time that we lost the momentum and leverage of time. Citing retirement as example again, we have read stories or know of people that put off retirement preparation until it is too late, forcing them to live in conditions different from what they could have had and sometimes working far longer than they really like to. In a nutshell, hedge against emergencies, resist cravings, drop the unnecessary expenses and focus on what really matters. It is easier said than done but let us all work together to have a good start for 2021. John Hero Salvador is a registered financial planner of RFP Philippines. To learn more about personal-financial planning, attend the 87th RFP program this January 2021. To inquire, e-mail info@rfp.ph or text at 0917-6248110.
DENR to borrow funds BDO unit to help train to build sanitary landfills fishermen in finance
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he Department of Environment and Natural Resources (DENR) plans to tap the Green Financing Program (GFP) of the Development Bank of the Philippines (DBP) to fill up the financing gap in the establishment of some 300 sanitary landfills across the country. “We are looking forward to a collaboration with the DENR because ever since DBP is very much involved into the different projects or thrust of the DENR,” Paul D. Lazaro, head of the DBP Lending Program Management Group, was quoted in a statement as saying. The DENR plans to close all remaining open dumps, about 230, in the country by the end of March. The DENR is tasked to help local government units (LGUs) establish their own sanitary landfills for proper waste disposal. Resource-poor LGUs often complain of the cost of putting up engineered sanitary landfills, the final waste-disposal facility allowed under Republic Act 9003 or the Ecological Solid Waste Management Act of 2000, to justify the operation of open dumps by private firms in their localities.
The meeting between the DENR and the DBP, Lazaro said, will give the DBP “a better approach in terms of solid waste management.” Before the meeting, the DENR facilitated the creation of the sanitary landfill operators’ coalition to boost collaboration with the agency and help in identifying strategic areas where they can operate. The DENR plans to link the LGU to the DBP for the purchase of the land for the SLF site. The DENR also plans to link the LGU with the private sector who will construct the facility. Lazaro said the DBP can consider the public-private partnershop because it can finance both the local government and the private sector. Rustico Noli D. Cruz, head of the DBP Program Development and Management Department, said the bank can provide financing solution to SLF operators through its GFP. According to Cruz, the GFP is the bank’s umbrella program for all environmental and climate change projects, including solid and hazardous waste management, air and water pollution, resource conservation, and energy efficiency. Jonathan L. Mayuga
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DO Unibank Inc. said its corporate social responsibility unit teamed up with several agencies to launch a financial education drive for fishermen across the country. In a statement on Monday, BDO Foundation announced its partnership with the Department of Agriculture’s Bureau of Fisheries and Aquatic Resources (DA-BFAR), Bangko Sentral ng Pilipinas (BSP) and the Fish Right program of the US Agency for International Development (USAID). The multi-sectoral collaboration aims to further educate fishermen on topics such as saving and budgeting, supplementary income sources and proper use of micro-loans and microinsurance. “Financial education interventions for underserved sectors of society are critical especially now that we are coping with the effects of a pandemic,” BDO Foundation President Mario A. Deriquito said. “We hope to be able to use the learning resources we have developed with BSP and other partners to further push financial inclusion, contribute to the government’s capacity building efforts, and make a difference in the lives of fishers and their families,” Deriquito added. BSP Governor Benjamin E. Diokno said that the Central Bank is hoping
to empower the poor and low-income households with financial education and inclusion initiatives, noting that the agri-fisheries sector has the potential for inclusive growth and development. “We aim to equip fishers and their families with prudent financial management skills and right attitudes toward money to help them cope with irregular incomes and other economic shocks that they typically encounter in their livelihoods,” Diokno said. Leveraging its over two-decade experience in marine biodiversity and fisheries management, the Fish Right Program will be supporting the design of the financial education module and its rollout in the local fishing communities. “Through USAID Fish Right program, we hope to build the capacity of more than 25,000 fishers with the intent to reach even more with the help of our partner NGOs and universities in Calamianes Island Group, South Negros and Visayan Sea,” said Patrick Wesner, Deputy Mission Director of USAID in the Philippines. A system will be in place to measure the impact of the program on the fishers’ financial behavior, the statement said. BFAR and civil society organizations will then train personnel tasked with teaching the module to the fishers.
Tyrone Jasper C. Piad
Art
BusinessMirror
Tuesday, February 9, 2021 • Editor: Gerard S. Ramos
B4
www.businessmirror.com.ph
Today’s Horoscope By Eugenia Last
z
CELEBRITIES BORN ON THIS DAY: Tyson Houseman, 31; Michael B. Jordan, 34; Mia Farrow, 76; Joe Pesci, 78. Happy Birthday: Look for the positive in every situation this year, and you will find it easier to make headway. How you approach people and situations will determine how much help and support you receive. Personal growth and a plan will help you achieve the success you desire. Refuse to let outside influences slow you down. Strive for perfection and stability. Your numbers are 6, 9, 17, 22, 27, 32, 36.
a
ARIES (March 21-April 19): Keep things moving forward. A positive attitude will help ward off emotional interference. Stay focused on what you are trying to achieve, and the difference you make will encourage others to follow suit. HH
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❶ Self-
portrait, July 2014, Mars Bugaoan, 2014, pronto litography, 1/1, 35x23.75 cm
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Thrones I Etching, Kristen Cain, 2015, monoprint, 1/2, 12.75x15.25 cm
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❸
b
TAURUS (April 20-May 20): Put your differences aside; focus your energy on getting things done on time. A push to bring about personal change that promotes a relaxing atmosphere will ease stress. HHHHH
Printmakers make an impression
❸ Which Way?, Benjamin Torrado Cabrera, 2019, Drypoint, 1/2, 30.48x29.9 cm
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HILE printmaking in the modern era commonly refers to the mechanical mass production of commercial products such as books and newspapers, a local artist organization has been keeping the practice alive for more than half a century in its vintage form as a multidisciplinary artistic process. The Association of Pinoyprintmakers traces its roots to 1968 when it was founded by Manuel Rodriguez Sr., tagged as the “Father of Philippine Printmaking.” In the group’s latest effort to raise awareness on the art form, which involves a range of techniques in transferring images from a matrix
onto another surface, the AP showcases different printmaking artworks in a group exhibition at Gallery C. The show, titled Thrive, is part of the Conrad Manila’s “Of Art and Wine” series and runs until February 19. “The exhibit’s self-titled theme, Thrive, resonates perfectly with Conrad Manila’s commitment to stay strong and resolute for the institution, the industry, and the country,” said Conrad Manila General Manager Linda Pecoraro. “It’s a perfect reminder for us to remain focused on what is important to transform our future.” The group show brings together 24 artists, featuring 34 art pieces. Each one is made using different printmaking techniques, including traditional methods such as woodcut, etching, engraving and lithography. Among the featured artworks are two late 1990’s litographs by acclaimed artist Ronald Ventura. There is also a pair of rare 1991 etchings from Ibarra dela Rosa—one with the subject of orchids, the other a jackfruit, both rendered with soft, carefully-carved details. Promising artist Jone Sibugan is part of the fold, too, with her 2019 serigraph, titled White Umbrella. Meanwhile, Yas Doctor, another participating artist for Thrive, presented a live demo of the printmaking
c
GEMINI (May 21-June 20): Take on something that interests you. A new position, project or partnership will challenge you intellectually and push you to learn more and take better care of yourself and your financial future. Romance is featured, and personal gain looks promising. HHH
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process during the show’s recent media launch. The artist underscored how anyone can practice printmaking at home using everyday items. “Art can be expensive, it even might have an elitist feel, but art is for all,” said AP Board Member Ambie Abaño, who is also part of the group show with two woodcut works on handmade paper. “We like to reach as many people as we can.” Thrive serves as the year-opening exhibition and 15th overall edition of Conrad Manila’s Of Art and Wine series at Gallery C. According to Nestor Jardin, former president of the Cultural Center of the Philippines and current executive consultant of SM Hotels and Conventions Corp., Conrad Manila has lined up an exciting slate of shows this year. “A forthcoming exhibit will open on February 23, titled New Earth, New Life, New Hope,” Jardin said. “It will be an environmental art exhibit focusing on sustainability, featuring the works of Bulacan artist Gilbert Angeles, who uses found materials such as coffee sachets, recycled wood. There will also be a sculpture exhibit by Impy Pilapil towards the third quarter of the year.” More information on Of Art and Wine: Thrive including the price list is available through (632) 88339999.
Call for nominations for the CCP 13 Artists Awards 2021 THE Cultural Center of the Philippines, through its Visual Arts and Museum Division, is now accepting nominations for the 2021 Thirteen Artists Awards. Since its first presentation 50 years ago, the Thirteen Artists Awards started as a curatorial project of the Cultural Center of the Philippines Museum under the directorship of its first curator, Roberto Chabet. The TAA was created in order to showcase the works of artists who grasped to “restructure, restrengthen and renew artmaking and art thinking...that lend viability to Philippine art.” It was Raymundo Albano, the next director of the CCP Museum and Non-Theater Operations, who transformed the Thirteen Artists into the awards program that it is today. The Thirteen Artists exhibition was mounted every two years from 1970 to 1980, and again in 1988, 1990, 1992 and 1994. It was revived in 2000, and changed to a triennial format, which it follows until today. Nominated artists must possess the following eligibility
requirements: n Body of work characterized by artistic integrity, innovativeness, and forcefulness of ideas. n Responsiveness to contemporary realities. n Evidence of sustained artistic activity demonstrated by a track record of individual exhibitions and group shows for at least the past three years. n Engagement with contemporary visual art forms including, but not limited to, painting, sculpture, new media, installation, performance art, photography, printmaking and digital imaging. n Filipino citizenship. n Less than 40 years old in the year of conferment or must be born 1982 onwards. Art councils, art groups, heads/deans of art schools, museum and gallery curators and directors, art critics and past Thirteen Artists Awardees may nominate a maximum of three artists each. The CCP Visual Arts and Museum Division (VAMD) under
the Production and Exhibition Department and the Office of the Artistic Director will convene a Selection Committee composed of four past awardees and the head of the CCP VAMD. The decision of the Selection Committee is final. The prizes of a Thirteen Artists Awardee include a cash grant to defray the cost of materials for producing new work for a group exhibition at the CCP Bulwagang Juan Luna (Main Gallery), which will open with the formal awarding ceremonies; a trophy designed by a 13 Artists Awardee and specially commissioned for the 2021 Thirteen Artists Awards, as well as participation in CCP’s public programs of discussions, lectures, workshops and other activities. The deadline for nominations is on March 1 at 11:59 pm. The nomination form can be downloaded from bit.ly/ taa2021nominations and the completed form sent to ccp. thirteenartists@gmail.com. Hardcopy nomination forms will not be accepted. More information is available at www.culturalcenter.gov. ph.
CANCER (June 21-July 22): Offer suggestions, do your part and put unfinished business to rest. Handle money matters, contracts or joint endeavors with enthusiasm, and you will make a difference to the recipients of your hard work and dedication. Your efforts will result in rewards. HHH
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LEO (July 23-Aug. 22): Don’t let what others do upset you. Take the initiative, look out for your interests and get things done on time. Opportunity is apparent, but it’s up to you to take advantage of whatever situation you face. HHH
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VIRGO (Aug. 23-Sept. 22): Live and learn. Take your time, listen carefully and make changes that improve your social standing, attitude and relationships with others. Don’t take a risk with your health or jeopardize your position because of someone’s indiscretion. HHHHH
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LIBRA (Sept. 23-Oct. 22): Control your emotions, and concentrate on your responsibilities. How you conduct business, handle investments and deal with health issues will make differences to the way you live. Personal changes may be beneficial for you, but they’ll likely make someone close to you rebel. HH
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SCORPIO (Oct. 23-Nov. 21): Proceed with caution. A problem with a partner, friend or relative will surface if you are outspoken or indulgent. Relax, be introspective and let situations unfold naturally. Now is not the time to start a war with someone you love. HHHH
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SAGITTARIUS (Nov. 22-Dec. 21): Take hold of whatever situation you face. Be positive, offer insight and come to conclusions based on facts, not hearsay. The way you present your ideas will determine the rewards you reap. Proceed with patience, enthusiasm and thoughtfulness. HHH
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CAPRICORN (Dec. 22-Jan. 19): Formulate your plan, then put it in motion. Don’t let what others do or say deter you from reaching your destination. A unique approach will lead to an exciting offer. HHH
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AQUARIUS (Jan. 20-Feb. 18): Someone will outsmart you if you don’t prepare appropriately. Leave nothing to chance, and you will outmaneuver anyone who tries to upstage you. Confidence, dedication and discipline will be your tickets to success. Romance is favored. HHH
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PISCES (Feb. 19-March 20): Look for an opportunity, and don’t hesitate to take advantage of an offer. How you conduct yourself will make an impression on someone who can help you advance. HHHH Birthday Baby: You are restless, ambitious and confident. You are perceptive and imaginative.
‘following directions’ by pam klawitter The Universal Crossword/Edited by David Steinberg
ACROSS 1 Bit of bounce 4 They’re in charge (think “top”) 8 “I’m outta here!” 13 One might propel a lifeboat 14 Puma competitor 15 ___ E. Neuman 16 Point where good momentum stops, in football (“forward”) 18 Alternative to an exchange 19 Sends romantic signals 20 Doomsday for Caesar 21 Stick up for 23 Dishwasher soap brand 26 All tied up 27 Choose to take part 30 Typical young adult novel reader 31 Green, in Granada 33 French ___ (big instruments) 35 Dr.’s field 36 Heartland residents (“Middle”) 39 ___ choy 42 Tiny 43 Enticed 47 Some raggedy dolls 49 Braying bunch
1 Roberts of romance 5 52 Gymnast’s performance 54 Got class credit 56 Countess Grantham on Downton Abbey 57 Oscar winner Matlin 59 Loosen up on the massage table 61 Senior homeowner’s cash source (“reverse”) 64 Greek moon goddess 65 Opera highlight 66 Dot-com or #MeToo 67 ___ so often 68 Final financial figure (“bottom”) 69 Lawn droplets DOWN 1 Part of a Rice Krispies trio 2 Kernel holder 3 Suggest, as a solution 4 “Splish Splash” singer Bobby 5 Go too far with 6 Crux 7 Back talk 8 Downhill coasters 9 Cause’s follow-up 10 Show your worth (“up”)
1 Kyoto cash 1 12 Throw in 15 Huffington with a Post 17 Actress/former Parliament member Jackson 21 App coder, slangily 22 Night of anticipation 23 Ring shape 24 Don’t start? 25 London setting of Call the Midwife (“East”) 28 Expression that’s coined 29 Works up a sweat 32 Ambulance initials 34 Show with Ego Nwodim and Chris Redd, briefly 37 Give forth 38 End-of-day photo op 39 Conference without the jury (“side”) 40 Peace activist Yoko 41 Work hard (“down”) 44 Snow-White’s sibling 45 Prior to, poetically 46 One honored in June 48 Person opposed to weed control? 50 Injury you may ice
3 Proofreader introducing an error, e.g. 5 55 Birdbath buildup 57 Ground-up corn 58 Prefix for “cultural” 59 Find a purpose for 60 Calif. neighbor 62 Calif. neighbor 63 Wide-open mouth Solution to Friday’s puzzle:
Show BusinessMirror
www.businessmirror.com.ph
Editor: Gerard S. Ramos
• Tuesday, February 9, 2021
B5
Christopher Plummer got a third act worth singing about I
By Lindsey Bahr The Associated Press
t’s one of the great Hollywood ironies that Christopher Plummer didn’t like the film that made him a legend. He was an actor’s actor and had cut his teeth doing Shakespeare. The Sound of Music, he thought, was sentimental shlock. And he wasn’t alone—reviews at the time were famously terrible. Then, like a personal curse, it would go on to become a universally beloved classic. He’d played Henry V and Hamlet and yet Captain von Trapp, he said in 1982, followed him around “like an albatross.” But even Plummer, who died on Friday at the age of 91, lived long enough to soften a bit. And why wouldn’t he? He also got to enjoy something that so few actors do: a genuine third act with terrific roles as 60 Minutes correspondent Mike Wallace in Michael Mann’s The Insider, a widower who comes out later in life in Mike Mills’ Beginners and, most recently, a slain mystery writer in Rian Johnson’s whodunnit Knives Out. He got three Academy Award nominations in one decade and, at age 82, would become the oldest actor to ever win an Oscar (for Beginners). He still holds that title. “You’re only two years older than me, darling. Where have you been all my life?” he said to his Oscar in 2012. “When I first emerged from my mother’s womb, I was already rehearsing my Academy thank you speech. But it was so long ago, mercifully for you I’ve forgotten it.” Dapper and dashing with an aristocratic air, Plummer could have been a leading man without the talent. With it he was a star with a character actor’s spirit, which he later would attribute his longevity to. “I’m thrilled that I turned into a character actor quite early on. I hated being a poncey leading man,” he told Vanity Fair in 2015. “You really start to worry about your jawline. Please.” Born in Toronto in 1929, Plummer was the great grandson of Canadian Prime Minister John Abbott and fell for the theater at a young age. Classically trained, he was a self-proclaimed snob about the stage and resisted the allure of the big screen for a time. As if to prove his own point, his first few films are not well-remembered. Then came The Sound of Music. It didn’t help that he got the added blow that his singing voice was going to be dubbed in the final film. “The only reason I did this bloody thing was so I could do a musical on stage on film!” he said. But he did get a lifelong friendship with Julie Andrews out of the deal. He retreated to the theater for a time, which would be a refrain through his life. He won Tony Awards for Cyrano and Barrymore and would even get to go back to Shakespeare, as King Lear, later in life. Over his six-decade career, his screen credits would prove wildly diverse. He was in \Malcolm X and Must Love Dogs. He was a Klingon in a Star Trek and Tolstoy in The Last Station, Rudyard Kipling in The Man Who Would Be King and Captain Newport in The New World. “For a long time, I accepted parts that took me to attractive places in the world. Rather than shooting in the Bronx, I would rather go to the south of France, crazed creature than I am,” he told The Associated Press in 2007. “I sacrificed a lot of my career for nicer hotels and more attractive beaches.” Plummer was also a legendary “hard-fisted” drinker, alongside similarly inclined friends, like Jason Robards, Richard Harris and Peter O’Toole. “Our intention was that we should be if were to be
GMA NEWS AND PUBLIC AFFAIRS DOMINATED DIGITAL PLATFORMS IN 2020
called men. We must drink as much as we can. And if we can still get through Hamlet the next day without a hitch, that made you a man, my son,” he told Terry Gross in 2008. “You weren’t worth anything unless you could.” A little Fernet-Branca laced with creme de menthe was his preferred “pick me up” before going on stage after an especially heavy night. But, he warned, stick to one. Two or three and “you’re drunk again.” He slowed down in later years and would write about his own antics in his acclaimed memoir In Spite of Myself. Plummer had decided that he was going to “keep crackin’” since “retirement in any profession is death.” And he did, marking his turn in The Insider, from 1999, as a turning point. “Then the scripts improved. I was upgraded! Since then, they’ve been first-class scripts,” he told the AP at the time. “Not all successful, but worth doing.” In 2017 in the thick of the first #MeToo revelations, he made headlines when he replaced a disgraced Kevin Spacey as J. Paul Getty in Ridley Scott’s All the Money in the World just six weeks before the film was set to hit theaters. Not only did the rush recall
the energy of the theater for him, it also proved professionally fruitful: the role got him his third Oscar nomination. And although he retained some of that charming arrogance to the end, Plummer was also a man capable of evolving, even about The Sound of Music. “As cynical as I always was about The Sound of Music,” Plummer told Vanity Fair, “I do respect that it is a bit of relief from all the gunfire and car chases you see these days. It’s sort of wonderfully, oldfashionedly universal.” Plummer entered his 80s worried about what he’d be able to accomplish, but a few years in he had put those worries aside. “I’m enjoying myself very much. And in my 80s, I had another career. I’m very happy about that. It’s gone better than most other decades have,” he said in 2018. “I played everything in the theater. I still would like to do something else in the theater, of course. But I’ve played all the great parts. And not too shabbily. Now I want the same great parts, if I can, on the screen. And so far, yes. I’ve played marvelous characters.” n
GMA News and Public Affairs dominated the Philippine online space for 2020, with viewers trooping to its digital platforms in a tumultuous year. According to data from video analytics firm Tubular Labs, GMA News led all Philippine media organizations in video viewership across all digital platforms for the year, peaking at No. 5 worldwide in May 2020 at the height of the enhanced community quarantine in Luzon. On YouTube, GMA News had over 2 billion video views, leading ABS-CBN News which had 1.6 billion views for the year. Likewise on Facebook, GMA News had over 3 billion views, compared to ABS-CBN News’ 2.5 billion views. The network’s main news page also led all Philippine news pages in total engagement for the year, with 536 million likes, clicks and shares, compared to ABS-CBN News’ 493 million, according to data from social analytics platform CrowdTangle. Across all platforms, GMA News ended the year with more than 52 million followers. These GMA News digital platforms, including GMA News Online, feature live and up-to-the-minute reports from the network’s award-winning News and Public Affairs programs. These include the nightly live streams of the network’s flagship newscast 24 Oras. Viewers from around the world can also catch up on the news through “Express” versions of newscasts 24 Oras, Unang Balita sa Unang Hirit, Balitanghali, State of the Nation, and Saksi. “As Filipinos here and around the world continue the battle the Covid-19 pandemic, it is more important than ever for viewers to get access to timely and trustworthy news about the country. This reflects our commitment to ‘Serbisyong Totoo,’ the hallmark of GMA News and Public Affairs,” says GMA Senior Vice President for News and Public Affairs Marissa L. Flores. GMA News has also stepped up the production of original videos for digital platforms. GMA “News Feed, a mobilefriendly, shortform video series that delivers breaking news online, garnered nearly 700 million views in 2020. Need To Know, a long-form explanatory journalism series providing much-needed context to breaking news issues, was also a big success with nearly 70 million views. Similarly, digital powerhouse GMA Public Affairs recorded a total of 80 million followers across popular platforms. Videos of its various programs tallied over 6.5 billion combined views on social media last year based on data from Tubular Labs and CrowdTangle. With 1.3 billion minutes, it even emerged as the most-watched News and Politics media creator in the Asia-Pacific region in terms of total minutes last September 2020. GMA Public Affairs’ official YouTube channel remains as one of the biggest content creators in the country with over 13.6 million subscribers, still ahead of ABS-CBN News’ 11.6 million. In the past 12 months, it generated over 2.8 billion views on YouTube—compared to rival’s 1.6 billion views. In April 2020, the GMA Public Affairs group hit 10 million subscribers that enabled GMA Network to be the first Philippine TV company to receive two Diamond Play Button Awards from the online video-sharing giant. Moreover, GMA News and Public Affairs continues to navigate other budding social platforms to reach more audiences across different demographics, including Spotify, iTunes, and TikTok. In 2020, GMA Public Affairs was listed among the Top 5 Philippine media creators on TikTok. “Our digital team always aims to bring the most important and engaging news to Filipinos here and abroad, no matter what device or platform they use,” said Jaemark Tordecilla, GMA Network Assistant Vice President for News and Public Affairs Digital Media. All these videos and more are being premiered on GMA News Online (www.gmanews.tv), GMA News and GMA Public Affairs official Facebook page and YouTube channel.
Here, there and everywhere
Janine Gutierrez is no doubt the local entertainment world’s lady of the hour, the brightest star for this season. Taking the biggest risk of her career by making a courageous leap of faith, Gutierrez simply followed what her heart and her mind have been telling her all along. And it seems that the stars have all aligned in her favor. A third-generation actor, Gutierrez’s family tree is almost showbiz royalty. Her paternal grandmother is Asia’s Queen of Songs, the indefatigable Pilita Corrales. Her maternal grandparents are iconic actors Nora Aunor and Christopher de Leon. Her dad is Ramon Christopher, Corrales’s son from actor Eddie Gutierrez. Her mom is the well-loved Lotlot de Leon, who has also been making her own mark as a
wonderful actress. Gutierrez is entering her new galaxy armed with everything she needs. Before 2020 ended, she was hailed best actress by the Urian and the Famas for her brilliant performance in Rae Red’s Babae at Baril. Very soon, Gutierrez’s romantic movie, titled Dito at Doon, will be shown in different new-normal platforms. From TBA Studios, and directed by JP Habac (his debut feature I’m Drunk, I Love You is wonderfully crafted), the contemporary film delves on the lives of two ordinary people whose paths cross in the time of quarantine. Gutierrez plays the assertive, opinionated female lead opposite the delivery boy character of JC Santos. “When I got a message that there’s this inquiry for a movie project that will be directed by JP, and that it will be produced by TBA Studios, I immediately agreed even without the benefit of a script,” she volunteered. Perhaps Gutierrez is one lady who listens to her inner voice, who trusts her intuition. “Oh, yes, always,” she asserted. “We all are more than what people see from the outside. Each of us is so interestingly complex that there are so many things within us that cannot just be explained by words alone.” Working on a movie set during the strict quarantine months was something Gutierrez had
to get used to. “Imagine, I wasn’t working for more than half a year, and suddenly the conditions are so different, with health and safety protocols taking priority. I am just thankful that I was working with an amazing team of young professionals that made work a breeze.” The 30-year-old actress made sure that before she was lured into acting, she finished her European studies first at the Ateneo de Manila University, upon the prodding of her mom. “Looking back, it was the wisest thing to do. Besides, I think I am a late bloomer when it comes to wanting to be an actor. I initially wanted to be an ambassador,” she shared. As she looks forward to her 10th year in this crazy business, Gutierrez can perhaps be an ambassador of beauty, grit and talent, changing the perception of many out there who still think that show business is all shallow, hallow and purely superficial glamour. After Dito at Doon, she will embark on her new starstudded TV series for her new network, and perhaps do one or two more films this year—that is, if her schedule permits. Yes, the beauteous and bewitching Janine Marie Elizabeth Gutierrez will be here, there and everywhere because her career will soon be running at a blistering pace. And we bet that she will be the year’s busiest and most celebrated actress as well.
JANINE GUTIERREZ
B6 Tuesday, February 9, 2021
TCL donates P1.8-M to PH Red Cross
Sun Life Philippines opens 2021 with back-to-back finlit webinars
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N a bid to help Filipinos achieve their financial goals this 2021, Sun Life Philippines opened the year with back-to-back free financial literacy webinars featuring wealth coach Chinkee Tan and tax expert Atty. Benedict Tugonon. Over 800 participants joined Tan’s virtual workshop entitled “Changing Your Money Mindset” held last January 16. Designed to be interactive, the event featured lectures such as “Reasons Why Some People Are Unlikely to Succeed Financially” and “How to Reprogram Your Money Mindset for Success,” as well as activities that prompted the participants to immediately apply the learnings. Tan, dubbed the “Pambansang Wealth Coach,” was a hit among the participants with his unique way of engaging the audience while imparting insightful lessons and tips. Meanwhile, over 500 participants joined Atty. Tugonon’s talk entitled “Effective Tax Planning for SMEs and Family Businesses” held on January 27. The event was aimed at empowering Filipino entrepreneurs as they navigate through the uncertainty caused by the prevailing pandemic. An internationally renowned subject matter expert, Atty. Tugonon earned praises from the
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HE Philippine Red Cross (PRC) received PHP 1.8 million and 100 wheelchairs from TCL as part of its “Be a Christmas Hero Campaign” launched last year. The donated funds aim to help indigent patients in need of blood under PRC’s Samaritan Program. Also benefitting from this campaign are PWDs (persons with disability) and the elderly, from different Red Cross chapters nationwide, who will seek assistance from PRC. Last January, PRC also provided food assistance to 5,800 PWDs from 58 PRC Chapters. This is part of PRC’s core value to help the most vulnerable groups, like PWDs, who are greatly affected by the COVID19 pandemic. “Hindi namin kayo makakalimutan. Inuna naming talaga kayo upang masigurado na maayos ang inyong kalagayan lalo na sa panahon ng pandemya,” Chairman Gordon said. The event was attended by PRC
Chairman and CEO Sen. Richard Gordon, PRC Secretary General Elizabeth Zavalla and representatives from TCL - Senior Manager of Whitelines & SO Mr. Jay Guanzon, TCL Marketing Manager Ms. Angeli Patricio and HRA Manager Ms. Fiona Gozon. The event also showcased PRC’s Valentine's campaign, “Spread #PulaV”. For every adoption of PULA “the giving bear”, PRC will be able to provide the needs of families and communities affected by the pandemic and aggravated by the recent calamities. The Red Cross Chairman and CEO Sen. Richard Gordon expressed his gratitude to TCL Philippines for their support of 100 wheelchairs for PWD and elderly beneficiaries - groups within PRC's priority for assistance. TCL representatives, headed by Senior Manager Jay Guanzon also donated PHP 1.8 million to PRC’s Blood Samaritan Program that helps indigent patients with immediate blood needs.
WEALTH coach Chinkee Tan led the ‘Changing Your INTERNATIONALLY renowned tax expert Atty Benedict Money Mindset’ workshop. Tugonon discussed the ‘Effective Tax Planning for SMEs and Family Businesses.’ audience for explaining technical matters in solutions,” Sun Life Chief Marketing and a clear and relatable way. Client Experience Officer Gilbert Simpao The two virtual events are among the said. “Sun Life is ready to be their lifetime many that Sun Life will be holding this year. partner in this pursuit.” “The new year presents a fresh start in Those who would like to stay updated the Filipinos’ financial journey. We aim to be about Sun Life’s upcoming webinars and of help through learning sessions like these, other events may follow @SunLifePH on along with quality advice from our advisors Twitter, Facebook, and Instagram for and relevant insurance and investment updates.
Rooftop V-date at Seda BGC
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STUNNING skyline views from Straight Up at Seda BGC make celebrations extra-special. (Actual set-up may be different due to safety guidelines.)
TRAIGHT Up at Seda BGC is proposing a rooftop romance for couples to celebrate Valentine’s Day on February 13 and 14, 2021! With exquisite views of the city skyline from the hotel’s 22nd floor, Straight Up offers diners three six-course menu options highlighted by either Broiled Boston Lobster or Argentinian Tenderloin as main course, and for the healthconscious, Moussaka, from a special and equally-delicious vegetarian menu. Diners have the option of sitting at the spacious main lounge indoors, or “al fresco”, perfect in this season’s cool evening breeze. This extraordinary culinary experience costs from Php2,100 to Php2,800 net per person. Other ways to sweep someone off their feet — Sweet Treats bursting with delicious flavors — available to-go. For table reservations and sweet treat orders: call Straight Up at (0917)8663860, 79458888 or 85885700.
MULAT 2021: ‘SustainAbility: Highlighting the Role of Environment Statistics in Building our Country’s Future’
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OR 40 years, the UPLB Statistical Society (STATS), a duly recognized academic organization in the University of the Philippines Los Baños, has committed itself to the pursuit of academic and professional excellence. The organization continues to work towards its goal of advancing and promoting proper application of statistics in all fields of learning endeavors. Though an academic organization, UPLB STATS does not set its limit in developing academic excellence among its members but also in promoting awareness among the youth nationwide. In recognition of its outstanding efforts and exemplary dedication to the successful conduct of various statistical advocacy activities for the youth, UPLB STATS was awarded as the Best Youth Advocate for Statistics during the 27th and 28th National Statistics Month. ESTADISTIKA is an annual, invitational statistics quiz, poster-making, essay- writing, and photo contest. However, due to the pandemic, the organization opted to re-invent the said activity and make an ESTADISTIKA Special Edition—with the same aim to introduce the proper application of statistics in various disciplines, and to promote intellectual growth in statistics nationwide. In its 15th year, high school and
college students nationwide are invited to participate in Mulat 2021: A Nationwide ESTADISTIKA Special Edition for Essay Writing and Vlog Making Contests. The vlog making contest will officially start on 15th of March 2021 while the essay writing contest will start on 22nd of March 2021, with the theme “SustainAbility: Highlighting the Role of Environment Statistics in Building our Country’s Future”. Essay writing contest is divided into two divisions (high school and college). For high school division, the contest is open to all Grades 9-12, and for college division, the contest is open to all undergraduate students. Meanwhile, the vlog making contest is open to Grade 11 senior high school to undergraduate college students. All participants for Mulat 2021 must be currently enrolled this Academic Year 20202021. Moreover, both contests have No Registration Fee. For each division in the essay writing contest, the participants have a chance to win Php 2,500.00 for first place, Php 1,500.00 for second place, and Php 1,000.00 for third place. On the other hand, participating teams in the vlog making contests have the opportunity to win as much as Php 6,000.00 for the grand prize, Php 3,000.00 for the
first runner up, and Php 1,000.00 for being the most liked video on ESTADISTIKA’s Facebook page. MULAT 2021 officially launches today, Feb 14, 2021 and the registration period for the contests starts tomorrow, Feb 15 at 10am. Registration links are provided down below, which will be open starting from Feb 15, 10am until March 14, 12nn only. Vlog Making Contest - https://forms. gle/8h55PUwvNLTVHjCu8 Essay Writing Contest (High School) https://forms.gle/2agueZAj7DnCf4um8 Essay Writing Contest (College) - https:// forms.gle/hPMKMDpQKiBQkJAo9 For further inquiries regarding Mulat 2021, you may contact us through email (estadistikastats@gmail.com) or on our Facebook page (https://www.facebook.com/ STATS.ESTADISTIKA/). MULAT 2021 is brought to you by the UPLB Statistical Society, together with our Major Media Partners: InqPOP of Inquirer.net, SparkUp of BusinessWorld, BusinessMirror, WhenInManila.com, and MovePH of Rappler. Sponsored by PSA Region 4A - CALABARZON and PSA Region 4B - MIMAROPA. Endorsed by PSA Region II - Cagayan Valley and PSA Region XI Davao Region.
12 YEAR old Charles Benedict Faderon is among the differently-abled beneficiaries granted with wheelchairs by the Philippine Red Cross through the help of TCL (The Creative Life). During the turn-over event, Charles also expressed his desire to attend online classes and PRC Chairman Richard Gordon was pleased to know that although he is bound to a wheelchair, the boy is eager to study and learn. The PRC Chair handed him a cellphone which he can use for his online classes.
Subway offers sandwiches for sharing
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N this month of hearts, get ready to fall head over heels in love with Subway’ newest offering – the 2 for 220 Ultimate Cheesy Garlic Bread with Sliced Chicken Promo. This ultimate treat aims to satiate your cravings for delightfully tempting – but healthy– sandwiches. Order its six-inch Ultimate Cheesy Garlic Bread and its regular six-inch Sliced Chicken Sandwich for just 220, and save as much as P50. It’s a generous sub that’s made for sharing, perfect for those casual and cozy dates at home. Your hearts may be full this Valentine’s Day, so make sure that your tummies are full too! Every Subway sandwich is lovingly made-toorder and loaded with the freshest of ingredients, offering so much flavor in every bite. As an additional treat from from February 10-16, you get (2) Free Coke
for every 2 for 220 purchase. If you’re feeling extra cheesy, order the Ultimate Toasties in Garlic Butter or Garlic Butter and Mozzarella Cheese for just P89. Get that gooey-gooey pull and crunch that you simply cannot resist. Enjoy these delicious temptations starting February 10 until March 30, 2021. The promo is valid in select participating stores across the Metro for both dine-in and take out transactions. The promo is not valid for the footlong Subway sandwiches. Spread the love with an amazing sub from Subway. For more information, follow www.facebook.com/subwayphilippines; visit the website: www.subway.com or contact Subway International B.V. Tel: (+632) 8737 9584 located at 4/F Unit 2C, One E-Com Building, Ocean Drive, Mall of Asia Complex, Pasay City, Philippines 1300
www.businessmirror.com.ph • Editor: Angel R. Calso
The World BusinessMirror
Tuesday, February 9, 2021
B7
Myanmar coup past turning point, risk of violence rising
In this December 4, 2013 file photo, Chinese President Xi Jinping, (right), shakes hands with then US Vice President Joe Biden as they pose for photos at the Great Hall of the People in Beijing. President Biden said he will not pursue US-China relations in the way that Trump did but will focus on “international rules of the road.” AP/Lintao Zhang
Biden says China should expect ‘extreme competition’ from US
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ASHINGTON—President Joe Biden says China is in for “extreme competition” from the US under his administration, but that the new relationship he wants to forge need not be one of conflict. In an inter view broadcast on Sund ay, Biden ac k nowledged that he has yet to speak with Chinese President X i Jinping since his inauguration Januar y 20, but noted that the two leaders had met many times when both men served their countries as vice president. “I know him pretty well,” Biden said in an excerpt of the interview aired Sunday by CBS’ “Face the Nation.” When they do speak, they will have “a whole lot to talk about,” Biden said. Biden appears to be concentrating his initial telephone diplomacy on US allies. He so far has spoken with the leaders of Canada, Mexico, the United Kingdom, France, Germany, Japan, South Korea, Australia and the NATO secretary-general. He also worked in a conversation with Russian President Vladimir Putin.
In the interview, Biden described Xi as “very bright” and “very tough” but without “a democratic, small D, bone in his body.” Shortly after Biden succeeded President Donald J. Trump in the White House, a spokesperson for China’s Foreign Ministry said that “after this very difficult and extraordinary time, both the Chinese and American people deserve a better future.” Beijing welcomed the Biden administration’s decision to remain in the World Health Organization and return to the Paris climate agreement. The new administration, however, is unlikely to significantly alter US policies on trade, Taiwan, human rights and the South China Sea that have angered Xi’s increasingly assertive government. Biden, in the interview taped Friday, said he has said to Xi “all along, that we need not have a conflict.” But, Biden added, there will be “extreme competition. And I’m not going to do it the way that he knows. And that’s because he’s sending signals as well.” Biden said he will not pursue US-China relations in the way that Trump did but will focus on “international rules of the road.” AP
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he military coup in Myanmar has gone past the point of no return, according to a confidential UK foreign office assessment, in a sign that major democracies expect to have limited ability to influence the events unfolding inside the country.
The bleak view last week from a senior British diplomat concludes the coup is irreversible, and that army chief Min Aung Hlaing will seek to crush ousted leader Aung San Suu Kyi’s pro-democracy party in order to install himself as president. The assessment, the broad outlines of which were shared with Bloomberg News, also cites the risk that anti-coup protests—with tens of thousands subsequently demonstrating on the weekend— could turn bloody. With Suu Kyi and former President Win Myint in detention and facing criminal charges, the British conclusion is that a leaderless National League for Democracy will likely start to fracture. That will allow the military, which seized power on Feb. 1, to dominate in an election it has promised to hold following a one-year state of emergency. Nations including the UK, the US and Australia have condemned the coup, which followed Suu Kyi’s landslide win in an election in November that outside observers deem to have been largely free and fair. Some countries have raised the prospect of renewed sanctions on Myanmar, which has made only
tentative efforts in recent years to open up its economy to outside investment. The perspective from the British diplomat, however, suggests that external inter vention in Myanmar beyond potential sanctions is highly unlikely. The regime may also turn to China—by far Myanmar’s biggest trading partner—for further support. Beijing did sign up to a United Nations Security Council statement emphasizing the need for “continued support of the democratic transition” in the Southeast Asian nation, but also issued a separate missive noting that China is a “friendly neighbor.” The UK government declined to comment in detail on the confidential assessment. In a statement, the Foreign, Commonwealth and Development Office said it condemned the coup and renewed calls for the military to respect the rule of law and human rights. “We need to see the peaceful reconvening of the National Assembly, and respect for the results of the November 2020 general election and the expressed wishes of the people of Myanmar,” the Foreign Office said.
Protesters gather at an intersection in downtown Yangon on February 7. Bloomberg photo
Massive protests
T ensions w it h i n My a n m a r picked up over the weekend, with tens of thousands of protesters on the streets of Yangon and other cities demanding the release of Suu Kyi. The showing at Sule Pagoda was the biggest rally there since the monk-led, anti-junta demonstrations in 2007 as part of the Saffron Revolution. Worries of a crackdown have grown in a country with a history of violent suppression of dissent. The UK assessment warned the situation could deteriorate. There’s been limited information from Myanmar as the military-run government cuts Internet access and orders service providers to block social media networks. Some access was restored on Sunday, allowing footage of the demonstrations to flood social media. Still, the military—also called the Tatmadaw—has tried to convey an air of stability, moving quickly to fill top positions in the government and the courts. It claims, without presenting evidence, that Suu Kyi’s election win was tainted with fraud. T he Tatmadaw w ill now turn
to shor ing up suppor t a head of elect ions, wh ic h it ca n do by negot i at ing dea ls w it h et hnic pa r t ies a nd u si ng it s Un ion Sol id a r it y a nd De ve lopment Pa r t y to a l ig n w it h pro -m i l itar y fact ions, accord ing to t he U K a s ses sme nt . T he re g i me w i l l a lso seek to mobi l i ze t he vote by appea l ing to Budd h ist nat iona l ist sent iment, it sa id. UK Foreign Minister Dominic Raab has publicly condemned the detention of Suu Kyi and other officials, calling for their immediate release in a Tweet on Feb. 4. He said the UK, which ruled what was previously known as Burma for more than a century until its independence in 1948, is consulting with international partners on next steps. The UN special rapporteur on human rights in Myanmar, Tom Andrews, has called on the agency’s Human Rights Council to convene a special session on the “unfolding crisis” in the country. He urged nations to “exert maximum pressure on the military dictators who have seized power, including through the imposition of targeted sanctions.” Bloomberg News
South Africa suspends AstraZeneca vaccine drive Trump impeachment trial to open with sense of urgency and speed
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OHANNESBURG—South Africa has suspended plans to inoculate its frontline health-care workers with the Oxford-AstraZeneca vaccine after a small clinical trial suggested that it isn’t effective in preventing mild to moderate illness from the variant dominant in the country. South Africa received its first 1 million doses of the AstraZeneca vaccine last week and was expected to begin giving jabs to health-care workers in mid-February. The disappointing early results indicate that an inoculation drive using the AstraZeneca vaccine may not be useful. P re l i m i n a r y d a t a f ro m a s m a l l s t u d y suggested that the AstraZeneca vaccine offers only “minimal protection against mild-moderate disease” caused by the variant in South Africa. The variant appears more infectious and is driving a deadly resurgence of the disease in the country, currently accounting for more than 90 percent of the Covid-19 cases, health minister Zweli Mkhize said Sunday night. “The AstraZeneca vaccine appeared effective against the original strain, but not against the variant,” Mkhize said. “We have decided to put a temporary hold on the rollout of the vaccine... more work needs to be done.” The study, which hasn’t yet been peer-reviewed, involved 2,000 people, most of whom were young and healthy. The volunteers’ average age was 31. “Protection against moderate-severe disease, hospitalization or death could not be assessed in this study as the target population were at such low risk,” said a statement issued by Oxford University and the University of the Witwatersrand in Johannesburg. Scientists will be studying whether or not the AstraZeneca vaccine is effective in preventing severe disease and death against the variant, Mkhize said. Other vaccines have shown reduced efficacy against the variant, but have provided good protection from serious disease and death. Public health officials are concerned about the South Africa variant because it contains a mutation
of the virus’ characteristic spike protein, which is targeted by existing vaccines. South African officials say the variant is more contagious and evidence is emerging that it may be more virulent. South Africa will urgently roll out other vaccines to inoculate as many as possible in the coming months, Mkhize said. Other South African scientists on Sunday said the clinical trials for the Johnson & Johnson vaccine show good results against the variant. The early results for the AstraZeneca vaccine against the variant could have far-reaching implications as many other countries in Africa and beyond have been planning to use the AstraZeneca shot. The international COVAX initiative has bought the AstraZeneca vaccine in bulk from the Serum Institute of India. Developers of the Oxford-AstraZeneca vaccine expect to have a modified jab to cope with the South Africa coronavirus variant by autumn, the vaccine’s lead researcher said Sunday. Sarah Gilbert, lead researcher for the Oxford team, told the BBC on Sunday that “we have a version with the South African spike sequence in the works.” “It looks very likely that we can have a new version ready to use in the autumn,” she added. Authorities in England last week went houseto-house to administer Covid-19 testing in eight areas where the South Africa variant is believed to be spreading, after a handful of cases were found in people who had no contact with the country or anyone who traveled there. More than 100 cases of the South African variant have been found in the UK The testing blitz is a bid to snuff out the variant before it spreads widely and undermines the UK’s vaccination rollout. Britain has seen Europe’s deadliest coronavirus outbreak, with over 112,000 confirmed deaths, but it has embarked on a speedier vaccination plan than the neighboring European Union. So far, the UK has given a first coronavirus vaccine jab to about 11.5 million people. AP
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ASHINGTON—Donald Trump’s historic second impeachment trial is opening this week with a sense of urgency—by Democrats who want to hold the former president accountable for the violent US Capitol siege and Republicans who want it over as fast as possible. Scheduled to begin on Tuesday, just over a month since the deadly riot, the proceedings are expected to diverge from the lengthy, complicated trial that resulted in Trump’s acquittal a year ago on charges that he privately pressured Ukraine to dig up dirt on a Democratic rival, Joe Biden, now the president. This time, Trump’s Jan. 6 rally cry to “fight like hell” and the storming of the Capitol played out for the world to see. While Trump very well could be acquitted again, the trial could be over in half the time. Details of the proceedings are still being negotiated by the Senate leaders, with the duration of opening arguments, senators’ questions and deliberations all up for debate. So far, it appears there will be few witnesses called, as the prosecutors and defense attorneys speak directly to senators who have been sworn to deliver “impartial justice” as jurors. Most are also witnesses to the siege, having fled for safety that day as the rioters broke into the Capitol and temporarily halted the electoral count certifying Biden’s victory. Defense attorneys for Trump declined a request for him to testify. Holed up at his Mar-a-Lago club, the former president has been silenced on social media by Twitter without public comments since leaving the White House. Instead, House managers prosecuting the case are expected to rely on the trove of videos from the siege, along with Trump’s incendiar y rhetoric refusing to concede the elec tion, to make their case. His new defense team has said it plans to counter with its own cache of videos of D emocratic politicians making fier y speeches. “We have the unusual circumstance where on
In this January 6, 2021 file photo, rioters loyal to President Donald Trump storm the US Capitol in Washington. Arguments begin on February 9, in the impeachment trial of Donald Trump on allegations that he incited the violent mob that stormed the US Capitol on January 6. AP/John Minchillo
the very first day of the trial, when those managers walk on the floor of the Senate, there will already be over 100 witnesses present,” said Rep. Adam Schiff, D-Calif., who led Trump’s first impeachment. “Whether you need additional witnesses will be a strategic call.” Trump is the first president to be t wice impeached, and the only one to face trial after leaving the White House. The Democratic-led House approved a sole charge, “incitement of insurrec tion,” ac ting swiftly one week after the riot, the most violent attack on Congress in more than 200 years. Five people died including a woman shot by police inside the building and a police officer who died of injuries the nex t day. Democrats argue it’s not only about winning conviction, but holding the former president accountable for his actions, even though he’s
out of office. For Republicans, the trial will test their political loyalty to Trump and his enduring grip on the GOP. Initially repulsed by the graphic images of the siege, Republican senators including Senate Republican leader Mitch McConnell denounced the violence and pointed a finger of blame at Trump. But in recent weeks GOP senators have rallied around Trump arguing his comments do not make him responsible for the violence. They question the legitimacy of even conducting a trial of someone no longer in office. On Sunday, Republican Sen. Roger Wicker of Mississippi described Trump’s impeachment trial as a “meaningless messaging partisan exercise.” Republican Sen. Rand Paul of Kentucky called the proceedings a farce with “zero chance of conviction” and described Trump’s language and rally words as “figurative” speech.
Senators were sworn in as jurors late last month, shortly after Biden was inaugurated, but the trial proceedings were delayed as Democrats focused on confirming the new president’s initial Cabinet picks and Republicans sought to put as much distance as possible from the bloody riot. At the time, Paul forced a vote to set aside the trial as unconstitutional because Trump is no longer in office, drawing 44 other Republicans to his argument. A prominent conservative lawyer, Charles Cooper, rejects that view, writing in a Wall Street Journal opinion piece Sunday that the Constitution permits the Senate to try an ex-official, a significant counterpoint to that of Republican senators who have looked toward acquittal by advancing constitutional claims. Republican Sen. Lindsey Graham of South Carolina, one of Trump’s ardent defenders, said he believes Trump’s actions were wrong and “he’s going to have a place in history for all of this,” but insisted it’s not the Senate’s job to judge. “It’s not a question of how the trial ends, it’s a question of when it ends,” G raham said. “Republicans are going to view this as an unconstitutional exercise, and the only question is, will they call witnesses, how long does the trial take? But the outcome is really not in doubt.” But 45 votes in favor of Paul’s measure suggested the near impossibility of reaching a conviction in a Senate where Democrats hold 50 seats but a two-thirds vote—or 67 senators— would be needed to convict Trump. Only five Republican senators joined with Democrats to reject Paul’s motion: Mitt Romney of Utah, Ben Sasse of Nebraska, Susan Collins of Maine, Lisa Murkowski of Alaska and Pat Toomey of Pennsylvania. Schiff was on NBC’s “Meet the Press, Wicker spoke on ABC’s “This Week,” Paul was on “Fox News Sunday” and Graham was on CBS’ “Face the Nation.” AP
All about volleyball in PSA Forum
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OP officials of the Philippine National Volleyball Federation Inc. (PNVFI) and some of the country’s volleyball superstars are gracing the special session of the online Philippine Sportswriters Association (PSA) Forum on Tuesday. PNVFI President Tats Suzara, Vice President Arnel Hajan and board member Charo Soriano will join star players Alyssa Valdez, Aby Maraño and Jaja Santiago in an expectedly lively discussion that centers on Philippine volleyball. The guesting stint in the 10 a.m. public sports
program comes two days after the International Volleyball Federation unanimously accepted the PNVFI as its official affiliate in the country. The forum is presented by San Miguel Corp., Go For Gold, Milo, Amelie Hotel Manila, Braska Restaurant, and the Philippine Amusement and Gaming Corp. and is powered by Smart with Upstream Media as its official webcast partner. The session is livestreamed via the PSA Facebook page fb.com/ PhilippineSportswritersAssociation and also shared by Radyo Pilipinas 2 Facebook page.
Sports BusinessMirror
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RNEST JOHN “EJ” OBIENA symbolically planted his 16-foot USC pole on German soil with the country’s colors proudly waving on the top end following his victory at the PSD Athletics Indoor meet in Dortmund on Sunday (early morning Monday in Manila). Obiena was a little below his elements in Dortmund and cleared 5.68 meters but still
snatched the pole vault gold medal, his second straight in his three-day German sortie. The Tokyo Olympics-bound Obiena cleared 5.80m to rule the ISTAF Indoor Athletics in Berlin on Saturday, resetting his own national record in the process. Before Berlin, he warmed up at the Karsruhe World Indoor Tour also in Germany with 5.62 meters that landed him in fifth place—yet again good enough for him to reset the national record a first time. But Obiena couldn’t take calls or answer texted
ERNEST JOHN “EJ” OBIENA wins a second gold medal in Germany.
messages right after his conquest in Berlin. The reason? He and a fellow Italian athlete had to take turns on the wheel as they motored to their next competition in France—the World Indoor Tour Lievin on Tuesday (Manila time). “EJ will have to drive by land to France and take turns with his Italian friend,” his father, Emerson, told BusinessMirror. “They cannot take the train—which would be quicker—because they are bringing their poles with them.” Lieven is a good 397 kms and five hours of
Prioritize athletes, coaches for vaccination—Go
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ATIONAL Task Force against Covid-19 chief Carlito Galvez Jr. agreed to review the possibility of putting national athletes and coaches high on the priority list of individuals who will receive the Covid-19 vaccine. Senate Committee on Youth and Sports and Health chair Christopher Lawrence “Bong” Go told BusinessMirror that he appealed on Monday to Galvez to also prioritize the athletes and coaches particularly those who are bound for the Tokyo Olympics in July and the 31st Southeast Asian Games in Vietnam in November. “As chair of both health and sports committees, I appealed to our Vaccine Czar, Gen.
Carlito Galvez Jr. to include in the priority list for Covid-19 vaccination our athletes and other delegates who will be competing in the Tokyo Olympics and Southeast Asian Games in Hanoi, both this year,” Go said. “Secretary Galvez responded positively to this appeal and they are currently studying how our competing athletes could be prioritized without prejudice to other sectors that have already been identified as top priority for vaccination such as frontliners and those belonging in poor and vulnerable sectors,” he added. Go said that the Filipino athletes deserve all the protection during the pandemic because they
B-R-A-D-Y: G.O.A.T
| Tuesday, February 9, 2021 mirror_sports@yahoo.com.ph Editor: Jun Lomibao
BACK-TO-BACK GOLDS By Josef Ramos
Tom Brady wins Super Bowl No. 7. AP
represent the country in overseas competitions. “They carry our flag to bring home glory. And in the 2019 SEA Games hosted by our country, the Philippines became the overall champion,” Go said. “Our government, the private sector and ordinary Filipinos united as one for our athletes.” There are only 996 national athletes, 262 coaches, 280 para athletes and 82 para coaches in the roster of the Philippine Sports Commission. Galvez earlier said that number of athletes and coaches is “small” but stressed he needs the approval of the Inter-Agency Task Force for the Management of Emerging Infectious Diseases before prioritizing the sports sector. Josef Ramos
T driving from Dortmund. “He’s going to France right now so he’ll be using his remaining time for recovery and rest because it’s competition time again for EJ,” Emerson Obiena said. “I asked him to sleep very well. He needs all the rest to be ready for Lievin,” he added. “If he needs massage or therapy, I told him to go for it.” German Oleg Zernikel and Torben Blech both cleared 5.65m to settle for the silver and bronze medals, respectively, in Dortmund.
Sports summit back Thursday
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HE Philippine Sports Commission’s (PSC) National Sports Summit 2021 tackles grassroots sports as a key to Olympic success on its third session on Thursday. The PSC will share its programs catering to amateur athletes in the Philippines as the foundation of elite sports excellence through the Philippine Sports Institute (PSI). The online summit starts at 1 p.m. PSI Dean Prof. Henry Daut will lead the discussion focusing on the nature, status and challenges of implementing science-based measures in tapping the local rich source of talents. “It is high time that we give educators, athletes and sports stakeholders a clear picture of what the PSC has been doing through these years to develop the amateur talents we have,” PSC Chairman William Ramirez said.
AMPA, Florida—Tom Brady made the Buccaneers, their fans and their city believe from the moment he arrived in Tampa Bay. With help from old friend Rob Gronkowsk and a ferocious defense, Brady and the Buccaneers are Super Bowl champions. Brady threw two touchdown passes to Gronkowski and one to good pal Antonio Brown, and the Buccaneers routed Patrick Mahomes and Kansas City 31-9 on their home field in Super Bowl 55 on Sunday. “You get this far and you wanna get the job done and we did it,” Brady said. “We just believed. I”m so proud of the guys.” Despite moving south to a new team and conference during a pandemic, Brady didn’t slow down at age 43. The GOAT earned his fifth Super Bowl MVP award and extended his Super Bowl titles’ record in his 10th appearance, nine with New England. Brady broke his own mark for oldest player to win a Super Bowl and joined Hall of Famer Peyton Manning as the only quarterbacks to win one with multiple franchises. “I think they’re all special,” Brady said. “I’m not making any comparisons. Experiencing it with this group of guys is amazing.” Stunningly, it was easier than any of his previous Super Bowl victories, which came by an average margin of five points. Mahomes lost by double digits for the first time in his four-year career. The Buccaneers (15-5) took their second National Football League (NFL) title and first in 18 years as the first team to play the big game at home, capping an unusual and challenging season played through the novel coronavirus. They won three road games as a wild card to reach the Super Bowl, and joined the NHL’s Lightning as a 2020 season champion. The Rays also went to the World Series but lost to the Dodgers. Mahomes and the Chiefs (16-3) failed to become the first repeat champions since Brady’s Patriots in 2003-04. “I didn’t see it coming at all,” Chiefs coach Andy Reid said. “I thought we were going to come in and play these guys just like we’ve been playing teams, and it didn’t happen that way. I give them credit on that.” The NFL completed its 269-game season on
time without any cancellations, a remarkable accomplishment that required nearly 1 million Covid-19 tests for players and team personnel. Due to the virus, only 25,000 mask-wearing fans attended, including approximately 7,500 vaccinated health care workers given free tickets by the NFL. About 30,000 cardboard cutouts made the stadium look full. A streaker wearing a hot-pink onesie eluded security and slid into the end zone with 5:03 left in the game. Kansas City’s high-powered offense never got that far against Tampa’s ferocious defense. “Obviously I didn’t play the way I wanted to play,” Mahomes said. “What else can you say? All you can do is leave everything you have on the field. I feel like the guys did that.... They beat us pretty good, the worst I’ve been beaten in a long time.” Bruce Arians became the oldest coach at age 68 to win the Super Bowl. His mom, 95-year-old Kay Arians, witnessed it in person. Brady, Gronk and defensive coordinator Todd Bowles helped Arians get that Vince Lombardi Trophy. “This really belongs to the coaching staff and our players. I didn’t do a damn thing,” Arians said after he was handed the trophy. Bowles devised a masterful plan to frustrate Mahomes and shut down the Chiefs, the complete opposite of Kansas City’s 27-24 win in Tampa in Week 12, when the Chiefs jumped to a 17-0 lead in the first quarter. Tyreek Hill had 269 yards receiving and three TDs in that one. He was held to 73 yards on seven catches Sunday. “Coach Bowles is a mastermind,” Bucs cornerback Sean Murphy-Bunting said. After the Chiefs took a 3-0 early lead, it was all Brady and the Bucs. Brady accomplished a career-first with an 8-yard TD pass to Gronkowksi for a 7-3 lead with 37 seconds left in the first quarter. Brady’s nine Super Bowl teams in New England produced just three points total in the first quarter. Gronkowski, who came out of retirement to play with his buddy, caught his 13th and 14th postseason TDs from Brady. They had been tied at 12 with Jerry Rice and Joe Montana. “To come here and be Super Bowl champs, it’s surreal, man,” said Gronkowski, who came out of retirement to play with Brady. “We have so many superstars on this team but nobody’s head was too big. Whoever got the ball got the ball. That’s what was so great about being on this team. There was no one who was selfish on this team. No one selfish in the organization. It just happened to be me this time getting the touchdown passes.” AP
GO SAYTI!
Members of the Sayti Bikers Club from Caloocan—(from left) Shine Angel Lopez, Patrick Jacobe, Rocky Bulambao, Florence Nebre, Lorrie Ann Atractivo, Myco Aniban,and Allan Venus, Jr.—share their greetings to BM Cycling, the BusinessMirror’s cycling show on Facebook live and YouTube that airs 5 p.m. to 6:30 p.m. every Monday. BERNARD TESTA
Loaded then assaulted Vincent Juico @VJuico, Instagram vpjp_j, vince.juico@gmail.com
SPORTS WITHOUT BORDERS Luis Resto was born in Puerto Rico then moved to New York when he was nine years old. In what may have been an unfortunate premonition of him as a fighter, as an eighth-grade student, he elbowed his teacher in the face which got him six months in a rehabilitation center for the mentally disturbed. After the incident, his uncle signed him up for boxing lessons at a Bronx gym, and, as they say, the rest is history. In 1975 and 1976, Resto won the 147-lb Golden Glove Open Championships. After winning back-to-back Golden Gloves titles, he turned professional in 1977. Six years into his young career, he had a decent 20-8-1 win-lossdraw record. Resto faced Billy Collins Jr. on June 16, 1983. Styles makes fights in boxing, but the fight was expected to be one-sided considering Resto’s light-punching style against Collins’s 11 wins by way of knockout. According to George Mackenzie of theversed.com, 10 rounds later, and the fight is over. Collins’s eyes are swollen shut, Resto has tampered with his gloves. The alarm was raised by Collins’s father and trainer, Billy Sr., who
shook Resto’s hand. Screaming that he thought the gloves had no padding, Collins Sr. demanded that the New York State Athletic Commission impound the gloves. An investigation discovered that an ounce of padding had been removed from each glove, the barroom equivalent of using a knuckleduster. To think Collins’s was subjected to 10 rounds of this is bad enough—it would later emerge that Resto’s wraps had been hardened in plaster of Paris. After a month’s investigation, the New York State Boxing Commission determined that Resto’s trainer, Panama Lewis, had removed the padding from Resto’s gloves. The commission suspended Resto’s boxing license for at least a year, stating that Resto should have known the gloves were illegal. Collins, who suffered a torn iris and permanently blurred vision, would never fight again. His career was over, and he fell into a downward spiral. He drove his car into a culvert while intoxicated and died a few months after the fight—his father would later speculate that this was a suicide. Randy Gordon, former Chairman of the
New York State Athletic Commission, wrote in his Bleacher Report article in 2011 in The Ring and called it “Murder, Plain and Simple.” Resto, who had worn the gloves which did the damage to Collins, swore he didn’t know the gloves had been tampered with. His cornermen pointed fingers at each other and whispered behind each other’s backs. One cornerman, Artie Curley, died of cancer not long after the incident. He had told me—and others—that Panama Lewis had doctored Resto’s gloves. The editorial opened up a legal case and both Lewis and Resto were put on trial. They were found guilty of assault, conspiracy and criminal possession of a deadly weapon. They were sent to prison for several years. Gordon continues, “Three summers ago, HBO aired a documentary entitled Assault in the Ring. It was a disturbing, human drama piece about an incident which took place inside the ring at Madison Square Garden in 1983 and the three young men involved. It was so disturbing it won an Emmy for Executive Producer Eric Drath.” Drath also directed a documentary on the same story and he said, “It was like a bare knuckle fight,” with Collins the only person in the ring wearing padded gloves as Resto was “killing” and “assaulting” Collins with loaded gloves. In “Assault in the Ring,” after 25 years, Resto admitted to Collins’s widow, now Andrea Collins-Nile, that he cheated, that knew the gloves were loaded and the padding was removed and that there was hardened plaster on his wraps. One might ask, was Resto ever remorseful?